NewzIntel.com

Category: Economy

  • MIL-OSI: First Guaranty Bancshares, Inc. Announces Third Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    HAMMOND, La., Oct. 31, 2024 (GLOBE NEWSWIRE) — First Guaranty Bancshares, Inc. (“First Guaranty”) (NASDAQ: FGBI), the holding company for First Guaranty Bank, announced its unaudited financial results for the third quarter and nine months ending September 30, 2024.

    Financial Highlights for the third quarter and nine months ended September 30, 2024, are as follows:

    • Total assets increased $371.2 million and were $3.9 billion at September 30, 2024 and $3.6 billion at December 31, 2023. Total loans at September 30, 2024 were $2.8 billion, an increase of $20.9 million, or 0.8%, compared with December 31, 2023. Total deposits were $3.4 billion at September 30, 2024, an increase of $420.8 million, or 14.0%, compared with December 31, 2023. Retained earnings were $72.7 million at September 30, 2024, an increase of $4.7 million compared to $68.0 million at December 31, 2023. Shareholders’ equity was $256.4 million and $249.6 million at September 30, 2024 and December 31, 2023, respectively.
    • Net income for the third quarter of 2024 and 2023 was $1.9 million and $1.8 million, respectively, an increase of $0.2 million or 8.7%. Net income for the nine months ended September 30, 2024 and 2023 was $11.4 million and $7.9 million, respectively, an increase of $3.5 million or 44.5%.
    • Earnings per common share were $0.11 and $0.10 for the third quarter of 2024 and 2023, respectively, and $0.78 and $0.56 for the nine months ended September 30, 2024 and 2023, respectively. Total weighted average shares outstanding were 12,504,717 and 11,431,083 for the third quarter of 2024 and 2023, respectively, and 12,499,799 and 11,022,919 for the nine months ended September 30, 2024 and 2023, respectively. The change in shares was due to the issuance of 44,341 and 29,293 shares of common stock under the Equity Bonus Plan during the fourth quarter of 2023 and the first quarter of 2024, respectively, and the issuance of 1,714,287 shares of common stock under private placement in 2023.
    • The allowance for credit losses was 1.20% of total loans at September 30, 2024 compared to 1.13% at December 31, 2023.
    • Net interest income for the third quarter of 2024 was $22.7 million compared to $20.4 million for the same period in 2023. Net interest income for the nine months ended September 30, 2024 was $65.9 million compared to $63.7 million for the nine months ended September 30, 2023.
    • The provision for credit losses for the third quarter of 2024 was $4.9 million compared to $0.6 million for the same period in 2023. The provision for credit losses for the nine months ended September 30, 2024 was $14.0 million compared to $1.5 million for the nine months ended September 30, 2023.
    • Charge-offs were $13.7 million during the first nine months ended September 30, 2024 and $2.0 million during the same period in 2023. Recoveries totaled $0.7 million during the first nine months ended September 30, 2024 and $1.2 million during the same period in 2023.
    • Net gains on the sale of loans for the third quarter of 2024 was $1.5 million compared to $0 for the same period in 2023. Net gains on the sale of loans for the nine months ended September 30, 2024 was $1.5 million compared to $12,000 for the nine months ended September 30, 2023.
    • First Guaranty had $1.2 million of other real estate owned as of September 30, 2024 compared to $1.3 million at December 31, 2023.
    • The net interest margin for the three months ended September 30, 2024 was 2.51% which was a decrease of 3 basis points from the net interest margin of 2.54% for the same period in 2023. The net interest margin for the nine months ended September 30, 2024 was 2.52% which was a decrease of 23 basis points from the net interest margin of 2.75% for the same period in 2023. First Guaranty attributed the decrease in the net interest margin to the increase in market interest rates that began in 2022 and continued through 2023 that increased the cost of liabilities. Loans as a percentage of average interest earning assets decreased to 80.0% at September 30, 2024 compared to 83.2% at September 30, 2023.
    • Investment securities totaled $664.0 million at September 30, 2024, an increase of $259.9 million when compared to $404.1 million at December 31, 2023. At September 30, 2024, available for sale securities, at fair value, totaled $342.6 million, an increase of $259.1 million when compared to $83.5 million at December 31, 2023. The increase in available for sale securities was primarily due to purchase of Treasury securities. At September 30, 2024, held to maturity securities, at amortized cost and net of the allowance for credit losses totaled $321.4 million, an increase of $0.8 million when compared to $320.6 million at December 31, 2023. The allowance for credit losses for HTM securities was $0.1 million at September 30, 2024 and December 31, 2023.
    • Total loans net of unearned income were $2.8 billion at September 30, 2024, a net increase of $20.9 million from December 31, 2023. Total loans net of unearned income are reduced by the allowance for credit losses which totaled $33.3 million at September 30, 2024 and $30.9 million at December 31, 2023, respectively.
    • Nonaccrual loans increased $40.6 million to $65.8 million at September 30, 2024 compared to $25.2 million at December 31, 2023. The increase in total nonaccrual loans was concentrated primarily in one commercial real estate relationship that totaled $37.0 million. This relationship is comprised of five loans secured by real estate located in the Midwest. $13.9 million of this relationship was previously reported in 90 day plus but still accruing at December 31, 2023.
    • At September 30, 2024, our largest non-performing assets were comprised of the following nonaccrual loans: (1) a $37.0 million non-farm non-residential loan relationship comprised of five loans with a specific reserve of $4.1 million; (2) a $3.3 million one- to four-family loan relationship; (3) a $1.8 million commercial real estate loan; (4) a commercial lease loan that totaled $1.7 million; (5) a commercial lease loan that totaled $1.6 million; (6) a $1.3 million one- to four-family loan relationship; and (7) a $1.3 million loan relationship that is classified as purchased credit deteriorated.
    • First Guaranty charged off $2.6 million in loan balances during the third quarter of 2024. The details of the $2.6 million in charged-off loans were as follows:
    1. First Guaranty charged off $0.5 million in consumer loans during the third quarter of 2024. The consumer loan charge offs included $0.1 million in credit card loans, $0.1 million of loans secured by automobiles or equipment, and $0.3 million in unsecured loans.
    2. First Guaranty charged off $1.0 million on a loan relationship that is classified as purchased credit deteriorated during the third quarter of 2024. This relationship had remaining principal balance of $1.3 million at September 30, 2024.
    3. First Guaranty charged off $0.1 million on a commercial and industrial loan relationship during the third quarter of 2024. This relationship had a remaining principal balance of $1.0 million at September 30, 2024.
    4. First Guaranty charged off $0.1 million on a one- to four-family loan during the third quarter of 2024. This loan had no remaining principal balance at September 30, 2024.
    5. Smaller loans and overdrawn deposit accounts comprised the remaining $0.9 million of charge-offs for the third quarter of 2024.
    • Return on average assets for the three months ended September 30, 2024 and 2023 was 0.21%, for each period. Return on average assets for the nine months ended September 30, 2024 and 2023 was 0.42% and 0.33%, respectively. Return on average common equity for the three months ended September 30, 2024 and 2023 was 2.40% and 2.27%, respectively. Return on average common equity for the nine months ended September 30, 2024 and 2023 was 5.87% and 4.06% respectively. Return on average assets is calculated by dividing annualized net income by average assets. Return on average common equity is calculated by dividing annualized net income by average common equity.
    • Book value per common share was $17.86 as of September 30, 2024 compared to $17.36 as of December 31, 2023. The increase was due primarily to the recent issuance of new shares and changes in accumulated other comprehensive income (“AOCI”). AOCI is comprised of unrealized gains and losses on available for sale securities, including unrealized losses on available for sale securities at the time of transfer to held to maturity.
    • First Guaranty’s Board of Directors declared cash dividends of $0.08 and $0.16 per common share in the third quarter of 2024 and 2023. First Guaranty has paid 125 consecutive quarterly dividends as of September 30, 2024.
    • First Guaranty paid preferred stock dividends of $1.7 million during the first nine months of 2024 and 2023.
    • As previously announced, on June 28, 2024, the Bank consummated a sale-leaseback transaction relating to two stand-alone branches and a portion of the headquarters building which also contains a branch (collectively, the “Properties”). The aggregate cash purchase price was $14.7 million. The sale-leaseback transaction resulted in a pre-tax gain of approximately $13.2 million, or $10.4 million after tax. Aggregate first full year of rent expense under the Lease Agreements will be approximately $1.3 million pre-tax, or $1.0 million after tax.

    About First Guaranty Bancshares, Inc.

    First Guaranty Bancshares, Inc. is the holding company for First Guaranty Bank, a Louisiana state-chartered bank. Founded in 1934, First Guaranty Bank offers a wide range of financial services and focuses on building client relationships and providing exceptional customer service. First Guaranty Bank currently operates thirty-six locations throughout Louisiana, Texas, Kentucky and West Virginia. First Guaranty’s common stock trades on the NASDAQ under the symbol FGBI. For more information, visit www.fgb.net.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact which represent our current judgement about possible future events. We believe these judgements are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or otherwise revise any forward-looking statements.

    For full release click here.

    CONTACT: ERIC DOSCH, CFO

    985.375.0308

    The MIL Network –

  • MIL-OSI Global: US-Africa relations under Biden: a mismatch between talk and action

    Source: The Conversation – Africa – By Christopher Isike, Director, African Centre for the Study of the United States, University of Pretoria

    In his first year in office, US president Joe Biden committed to resetting US-Africa relations based on a doctrine of equal partnership.

    He sent his secretary of state, Antony Blinken, to Kenya, Côte d’Ivoire and Nigeria. The visit was used to outline the administration’s policy outlook towards Africa. It laid the ground for the official US-Africa policy commitment that Blinken launched the following year in South Africa.

    Since then, there have been high level engagements between the US and African countries to deepen ties. They included visits by top cabinet members of the administration: vice-president Kamala Harris, secretary of defence Lloyd Austin and treasury secretary Janet Yellen. First lady Jill Biden also came.

    Biden hosted a well attended US-Africa Leaders Summit in Washington DC in December 2022. Kenyan president William Ruto paid a state visit to the White House in May.

    Yet our view, which is based on years of studying and writing on US and Africa relations, is that the Biden administration has not fulfilled its commitment to resetting US-Africa relations based on an equal partnership. It hasn’t recognised Africa’s growing agency in international affairs.

    We argue that there has been a mismatch between the rhetoric and practice of an equal partnership. For example, African leaders or the African Union were not consulted about the agenda of the 2022 US-Africa Leaders Summit. This was also the case with the US’s Africa strategy.

    This reflects the traditional paternalistic relationship of the US with Africa.



    Read more:
    Joe Biden in Africa: US president has ignored the continent for his entire term — why he’s visiting Angola

    Biden is due to visit Angola in December – his only African visit as president. A much more encouraging message of equal partnership would have been delivered if the US-Africa Leaders Summit, for example, had been held at the African Union headquarters in Ethiopia. Biden would have then been able to engage with African leaders in the continent early in his term.

    A full diary of engagements

    There are a number of positive indicators of Biden’s commitment to reset relations with Africa.

    August 2022: The first tangible step was through the US Strategy Toward Sub-Saharan Africa. This presented a shift in emphasis from great power politics (vis-a-vis China and Russia in Africa) and Trump’s America First diplomacy, to one of mutual respect and partnership (at least on paper) under Biden.

    Priorities included fostering open societies, delivering democratic and security dividends, advancing pandemic recovery and economic opportunity, and supporting the climate agenda.

    December 2022: The US-Africa Leaders Summit in Washington DC was attended by 49 African leaders, three months after the release of the Africa strategy. The focus was on

    strengthening ties with African partners based on principles of mutual respect and shared interests and values.

    Biden pledged US$55 billion in investments until 2025 to advance goals that aligned with shared priorities. The US is said to have allocated 80% of said funds.

    The US used the summit to formally announce its support for the African Union’s membership of the G20. This was realised when the AU officially joined the G20 as a permanent member in 2023.

    November 2023: Biden hosted Angolan president João Lourenço at the White House on an official visit. They discussed cooperation on the economy, security, energy, transport, telecommunications, agriculture and outer space.

    May 2024: Kenyan president William Ruto’s state visit was the first by an African leader in more than 15 years.

    September 2024: US ambassador to the United Nations Linda Thomas-Greenfield announced US support for Africa getting two permanent seats on the UN security council.

    Finally, Biden’s visit to Angola, set for the first week in December would be the first by a US president since 2015.

    What’s gone wrong

    It’s possible to see serious flaws in the US approach towards Africa set against the expectation of an equal partnership.

    Firstly, the US has attempted to undermine African agency through its bid to pressure African countries to condemn Russia’s invasion of Ukraine. Many African countries chose non-alignment.

    Secondly, the US championing two seats for Africa on the security council looks commendable on the surface. But the lack of veto power perpetuates power imbalances between Africa and the current permanent security council members – the US, France, the UK, Russia and China.

    The question again is how equal the partnership is if Africa will be a junior member of the security council.

    Thirdly, there has been a lack of joint agenda setting. African countries have made no input into US-Africa strategy or the US-Africa Leaders Summit.

    Failing to consult African leaders, institutions and civil society on the continent’s own priorities reflects the same old practice of imposing priorities on African states. It looks like a continuation of the usual passing off of American national interests as African interests.

    Fourthly, there have been challenges in implementing what’s set out in the US Strategy Toward Sub-Saharan Africa. These have included inadequate resource allocation.



    Read more:
    US-Africa trade deal turns 25 next year: Agoa’s winners, losers and what should come next

    Fifth, the Biden administration has used the Africa Growth and Opportunity Act (Agoa) as diplomatic leverage over African countries. For example, in October 2023 it announced the removal of Uganda, Niger, Gabon and Central African Republic from the beneficiaries. Earlier, the administration removed Ethiopia, Guinea, Mali and Burkina Faso. These countries were removed from Agoa for not complying with US human rights and political demands.

    Between February and March 2024, the US Congress also considered the US-South Africa Bilateral Relations Bill, which risks South Africa’s exclusion from Agoa because of Pretoria’s position on the Israel/Palestine conflict.

    Lastly, the fact that Biden is only visiting Africa in the last days of his presidency suggests Africa is not a priority. The fact that only one African head of state has been afforded a state visit to Washington reinforces this thinking.

    If the US is serious about equal partnership, it mustn’t treat Africa as an afterthought. It must always consult African states in shaping policies that affect them and the continent.

    Ruth Kasanga, a postgraduate student in the Department of Political Sciences and Research Assistant at the African Centre for the Study of the United States, University of Pretoria, made contributions to this article.

    Samuel Oyewole is affiliated with Federal University Oye-Ekiti, Nigeria.

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

    – ref. US-Africa relations under Biden: a mismatch between talk and action – https://theconversation.com/us-africa-relations-under-biden-a-mismatch-between-talk-and-action-242307

    MIL OSI – Global Reports –

  • MIL-OSI Global: Russia is meddling in politics in Georgia and Moldova – trying to do by stealth what it is doing by war in Ukraine

    Source: The Conversation – UK – By Amy Eaglestone, PhD Candidate, University of Birmingham; Visiting Lecturer, Institute of Political Science, Leiden University

    Recent votes in the former Soviet states of Georgia and Moldova have been dogged by interference from Russian-backed elements. Both countries had previously aspired towards closer ties with western Europe and future membership of the EU. And in both countries there is a strong suggestion of influence from Moscow that could jeopardise those aspirations.

    The Moldovan government held a referendum on the country’s EU accession target for 2030 on October 20. Despite consistent polling suggesting that 60% of Moldovans support further integration, the referendum only passed by a slim majority of 50.4%.

    On the same day, the first round of Moldova’s presidential election saw pro-European incumbent Maia Sandu secure 41% of the vote. This was insufficient for an outright win. Sandu now faces a run off against her closest rival, pro-Russian Alexandr Stoianoglo, who garnered 26% of the first vote.

    In the run-off, Stoianoglo will be backed by the two other candidates, both them pro-Russian populists. This makes a Sandu reelection far from inevitable.

    Meanwhile, in Georgia’s parliamentary elections on October 26, Georgian Dream won its fourth consecutive term with 54% of the vote, its best result to date. It will allow the pro-Russia party to retain control of the government and continue the process of pulling the country further away from Europe and towards closer ties with Moscow.

    This is despite the fact that there has been consistently strong popular support for EU integration and growing dissatisfaction toward Georgian Dream’s increasingly pro-Russian policies.

    The difference between public opinion as expressed by independent polling in both Moldova and Georgia and the outcomes of these votes has raised suspicions of interference. These suspicions have been further corroborated by international and domestic election monitoring organisations raising concerns that the elections were not entirely free and fair.

    The pro-European camps in both Moldova and Georgia say Russia is behind this. There is a suggestion that these efforts are part of Russia’s multifaceted hybrid warfare. It’s a campaign aimed at destabilising these countries and hindering their European integration.

    Russia has long manipulated domestic fears and grievances. The Kremlin and its agents have strong influence over media, civil society organisations and the orthodox church.

    Both Moldova and Georgia also have a Russian military presence. In Moldova this is in the breakaway region of Transnistria, where there is a “peacekeeping force” of about 2,000 troops. Georgia has two pro-Russia breakaways making up 20% of the total land area of the country, Abkhazia and South Ossetia.

    The war in Ukraine has also heightened concerns in both both countries about Moscow’s ambitions towards them. Georgia’s ruling Georgian Dream party campaigned for a closer relationship with Russia.

    Its slogan, “No to war! Choose peace!” contrasted peace and alignment with Russia with being dragged into a war by the west. In Moldova opposition parties used similar rhetoric, calling for Russian protection and framing EU integration as a threat to national sovereignty. This resonated particularly among Russian-speaking populations.

    Russia’s influencers have also escalated cultural tensions in both countries. In Moldova, Moscow-backed opposition groups have rallied conservative segments of society to fight against governments efforts to introduce EU-aligned anti-discrimination legislation.

    Similarly, the Georgian Dream party introduced Russian-style anti-LGBTQ+ legislation in Georgia to appeal to the traditional family values of conservative and religious voters. By leveraging such issues, Russia has aimed to exploit people’s cultural concerns, to increase political polarisation, and to affect political choices.

    Follow the money

    But the most important way the Kremlin, or people associated with Russia, is interfering in the domestic politics of Georgia and Moldova is money. In the case of Moldova, fugitive pro-Moscow tycoon Ilan Shor (who lives in Moscow after being found guilty of fraud in Moldova) has been accused of bribery and helping orchestrate electoral fraud. Shor has denied any wrongdoing connected to the election.

    Georgian banking and tech billionaire Bidzina Ivanishvili one of the country’s wealthiest oligarchs, founded Georgian Dream in 2012. He has been described in one article as “the man who bought a country”. With a fortune worth the equivalent of 25% of Georgia’s GDP, he is thought to wield an outsize influence in the country’s politics, influence he reportedly uses to “tilt the country towards Moscow” (although some say he primarily furthers his own interests).

    Ivanishvili himself, announcing his return to mainstream politics in 2023 as the honorary chair of Georgian Dream, said the party’s role was to “protect our national identity, restore state sovereignty and territorial integrity, and transform Georgian into a high-income state till 2030 and bring it into the European Union”.

    In the conditions in these countries, individuals’ vast resources can be used unchecked for political activities. The influx of funds disadvantages opposing parties, who don’t have access to similar financial backing. They have created a lopsided political environment that favours Russian-aligned candidates.

    There is also a risk that informal or unchecked financing could also have funded election day irregularities. Reports of vote buying, ballot stuffing and violence at polling stations were observed in both countries.

    In one incident in Moldova captured by the BBC, a woman from Transnistria, where people still hold Moldovan citizenship, was filmed openly inquiring where she should go to receive payment for her vote.

    In Georgia, Ivanishvili’s influence allegedly extends to civil servants and the electoral commission as well as the judiciary, which rules on complaints of vote rigging. Claiming victory shortly after polls closed, Ivanishvili said: “It is a rare case in the world that the same party achieves such success in such a difficult situation.”

    The exact impact of Russian interference remains difficult to prove. But the dramatic apparent shifts in electoral sentiment are highly suggestive. This kind of election interference opens the door for autocratic leaders to gradually dismantle democratic institutions.

    This then allows them to enact further illiberal policies, such as the hated recent “foreign agents” law modelled after similar Russian legislation, which targets pro-democracy civil society organisations critical of the government.

    Moldovans are now preparing to vote in the run-off election on November 3, which will determine the immediate future of the country and could affect its future relationship with Europe. Many Georgians, meanwhile – led by the country’s president, Salome Zourabichvili – have taken to the streets to protest what Zourabichvili has called the “total falsification” of the vote.

    If she and Sandu are right, Russia – along with its supporters – appears to be trying to achieve, through this “hybrid warfare” in Georgia and Moldova, what it is striving for on the battlefield in Ukraine: regaining control over currently free nations that used to be Russia’s obedient satellites.

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

    – ref. Russia is meddling in politics in Georgia and Moldova – trying to do by stealth what it is doing by war in Ukraine – https://theconversation.com/russia-is-meddling-in-politics-in-georgia-and-moldova-trying-to-do-by-stealth-what-it-is-doing-by-war-in-ukraine-242135

    MIL OSI – Global Reports –

  • MIL-OSI Russia: Interest of foreign citizens in studying at HSE is growing: results of 2024/25 admissions and the start of a new campaign

    Translation. Region: Russian Federation –

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

    The steady growth of interest in studying at HSE, especially among applicants from the CIS and Asia, speaks to the high quality of Russian education. This year, as part of a separate competition for foreign citizens, 2,267 students were enrolled in all HSE campuses for the 2024/25 academic year, which is 14% more than last year.

    November 1st starts Admission campaign for foreign citizens planning to enter in 2025. The results of the 2024/25 admissions campaign for foreign applicants were previously announced.

    HSE Vice-Rector Victoria Panova commented on the growing demand for Russian higher education, emphasizing the campaign’s success: “There are a number of factors that explain the interest in studying at HSE. Applicants and their parents are attracted by the opportunity to receive a high-quality, world-class education in various fields of study. HSE occupies leading positions in national and international rankings. Our graduates are in demand in most sectors of the labor market and can count on a very high level of salary already at the start of their careers, which is proven, among other things, by first place in the ranking of universities with the best reputation among employers by Forbes Education“.

    Having received a diploma from the National Research University Higher School of Economics, a graduate receives a ticket to a world of great opportunities and a wide range of modern, well-paid professions.

    Total number of applicants

    The number of applications for undergraduate and graduate programs has also increased this year: 33.3% more applications for undergraduate programs and almost twice as many for graduate programs. At the same time, the ratio of the number of enrolled students to the number of applications has decreased, which indicates that the requirements for international applicants have increased. Among the first-year undergraduate students of 2024/25, as in the previous year, the majority are from Kazakhstan, Kyrgyzstan, China and Turkmenistan. The number of students from Moldova, Vietnam and Armenia has increased. In the graduate program, there has been a noticeable increase in the number of enrolled citizens of Pakistan, Nigeria, Ghana, Afghanistan and Bangladesh, while the number of applicants from Kazakhstan, Uzbekistan, India and Kyrgyzstan has decreased.

    What areas do foreign applicants choose?

    Among the most popular areas for international undergraduate students are still “Design”, “Business Management” And “Economy”. Master’s programs are in demand “Data Analytics for Business and Economics”, “International Relations: European and Asian Studies” And “Finance”.

    Alexander Deev, Director of Talent Abroad, notes: “The 2024/25 admissions campaign was a success, and this was made possible by the coordinated work of all HSE campuses. We are proud that HSE attracts truly talented applicants not only from Russia, but also from around the world. Thanks to the unified admissions system, international applicants do not need to take exams at each individual campus, or travel or fly in, which makes the process more convenient and creates equal opportunities for everyone.”

    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 Canada: An additional $22.2 million to support farm businesses affected by weather hazards in 2023

    Source: Government of Canada News (2)

    News release

    Canada-Quebec Initiative to Help Mitigate the Impacts of Excess Rainfall in Quebec in 2023

    October 31, 2024 – Quebec City, Quebec – Agriculture and Agri-Food Canada

    The Government of Canada and the Government of Quebec are launching the Canada-Quebec Initiative to Help Mitigate the Impacts of Excess Rainfall in Quebec in 2023 (known as AgriRecovery). The Canada-Quebec Initiative will provide $22,2 million in addition to the sums already allocated by existing programs. The financial support will partially offset the extraordinary costs incurred by vegetable, potato, strawberry and raspberry growers affected by the exceptionally adverse weather conditions of summer 2023.

    André Lamontagne, Minister of Agriculture, Fisheries and Food and Minister responsible for the Centre-du-Québec Region, and the Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food, made the announcement today.

    Here are the key points for companies affected by the Initiative:

    • The registration form will be available in December 2024 in the producer’s online account at La Financière agricole du Québec (FADQ).
    • The registration period will run from December 2024 to February 2025.
    • The registration will be online only, and no paper forms will be made available.
    • If necessary, a FADQ staff member will contact the company to obtain information or request additional supporting documents.
    • To demonstrate that they have incurred costs beyond their capacity, companies will have to provide financial data covering the 2022 and 2023 growing seasons if they have not already done so. They will also have to meet the Initiative’s criteria, in particular having incurred a given level of expenditure for the categories eligible for the Initiative.

    In the meantime, companies are asked to create or update their FADQ online account. If they need assistance in this regard, they are asked to contact their service centre.

    To speed up the processing of applications, if they have not already done so, companies participating in AgriStability are encouraged to submit their financial data for the 2023 participation year to the FADQ as soon as possible. For companies not participating in AgriStability, it will be possible to register by filing audited tax documents, such as the T2042 form.

    Full participation details will be available shortly on the FADQ website.

    Quotes

    “Our farmers work so hard every single day, often in the face of different challenges, including unpredictable weather. Our government will always be there to support them and help them build resilience, so they can continue to produce the top-quality products they have become known for.”

    – The Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food

    “For our government, it was essential to come to the aid of agricultural businesses to respond to the consequences of exceptional weather, which were disastrous for many of them. I would like to take this opportunity to reaffirm our commitment to supporting farms in their efforts to improve their resilience to the impacts of climate change, for a strong, agile and competitive sector.”

    – André Lamontagne, Minister of Agriculture, Fisheries and Food and Minister responsible for the Centre-du-Québec Region

    Quick facts

    • Summer 2023 was characterized by abundant and frequent rainfall in the regions of Montérégie, Capitale-Nationale, Laurentides, Montréal-Laval-Lanaudière, Chaudière-Appalaches, Mauricie, Estrie, Centre-du-Québec, Saguenay–Lac-Saint-Jean, Outaouais, Bas-Saint-Laurent, Gaspésie–Îles-de-la-Madeleine and Côte-Nord.

    • Production losses, combined with the extraordinary costs due to the situation, have had an impact on the liquidity and financial capacity of Quebec horticultural companies.

    • The Initiative, which will be administered by the FADQ, stems from the AgriRecovery disaster relief framework under the Sustainable Canadian Agricultural Partnership Multilateral Framework Agreement.

    • AgriRecovery is a federal-provincial/territorial disaster relief framework. It is more precisely designed to help agricultural producers meet the extraordinary costs of recovering from natural disasters. AgriRecovery initiatives are cost-shared by the federal government and the provinces and territories concerned on a 60%-40% basis, as set out by the Sustainable Canadian Agricultural Partnership (Sustainable CAP).

    • In addition to risk management programs, the Initiative completes a series of measures put in place by the FADQ and the Ministère de l’Agriculture, des Pêcheries et de l’Alimentation (MAPAQ) to support horticultural producers following the excess rainfall in 2023, for example:

      • Introduction of the Mesure complémentaire pour certaines productions horticoles affectées lors de la saison de culture 2023 (Complementary assistance measure for certain horticultural crops affected during the 2023 growing season). This measure offers assistance, which is complementary to the Agri-Québec Plus assistance, which allows the company to record at most $200,000 in net profit, depending on the number of shareholders or the equivalent established by the FADQ;
      • $30 million increase in the Working Capital component of the Sustainable Growth Investment Program, for a total of $55 million;
      • Grant of $50,000 in financial assistance to the Association des producteurs maraîchers du Québec to conduct a study explaining the low rate of enrollment in crop insurance;
      • Payment of indemnities in advance at the request of producers;
      • Extension of warehouse loss coverage for some crops;
      • Extensions of sowing deadlines for market garden crops;

    • Cancellation of the account-to-account policy for companies that request it.

    • Financial assistance could reach up to $904 per hectare for vegetable crops and potatoes, and up to $3,613 per hectare for strawberries and raspberries.

    • This announcement is the result of discussions and exchanges between various stakeholders involved.

    • Agricultural associations and the MAPAQ continue their collaboration to adapt the sector to climate change.

    Associated links

    Contacts

    For media:

    Annie Cullinan
    Director of Communications
    Office of the Minister of Agriculture and Agri-Food
    annie.cullinan@agr.gc.ca

    Media Relations
    Agriculture and Agri-Food Canada
    Ottawa, Ontario
    613-773-7972
    1-866-345-7972
    aafc.mediarelations-relationsmedias.aac@agr.gc.ca
    Follow us on Twitter, Facebook, Instagram, and LinkedIn
    Web: Agriculture and Agri-Food Canada

    Makena Mahoney
    Minister’s Office
    Makena.Mahoney@ontario.ca

    Meaghan Evans
    Communications Branch
    OMAFRA.media@ontario.ca
    519-826-3145

    MIL OSI Canada News –

  • MIL-OSI: Baron Capital Enterprise, Inc. (OTC: BCAP) Announces Successful Reinstatement with the State of Florida and Outlines Strategic Path to Regulatory Compliance and Market Expansion

    Source: GlobeNewswire (MIL-OSI)

    Miami, FL, Oct. 31, 2024 (GLOBE NEWSWIRE) — Baron Capital Enterprise, Inc. (OTC: BCAP) is pleased to announce its successful reinstatement with the State of Florida Secretary of State, effective October 30, 2024. This significant milestone underscores the company’s commitment to regulatory compliance and sets the foundation for a new era of growth and development.

    Strategic Compliance Initiatives

    Under the leadership of Jake P. Noch, Chief Executive Officer and Chairman of the Board, Baron Capital Enterprise, Inc. is undertaking several key initiatives to enhance its corporate governance and regulatory standing:

    •       Updating Articles of Incorporation: The company will proceed to update its Articles of Incorporation to reflect its renewed strategic direction and operational focus.

    •       Financial Statement Preparation: Baron Capital is committed to preparing and filing comprehensive financial statements covering the period from 2017 to the present. This effort is crucial for regaining compliance with disclosure requirements and ensuring transparency for shareholders and regulatory bodies.

    •       Regaining Disclosure Compliance: By addressing past filing deficiencies, the company aims to restore its compliance with all regulatory disclosure obligations, reinforcing its reputation as a trustworthy publicly traded entity.

    •       Engaging a Market Maker: The company plans to engage a leading market maker to assist in filing a new Form 211 with the Financial Industry Regulatory Authority (FINRA). This action is intended to restore proprietary quote eligibility, enhancing market confidence and facilitating efficient trading of the company’s shares.

    Rebranding and Expansion Strategy

    In alignment with its forward-looking strategy, Baron Capital Enterprise, Inc. plans to rename and rebrand itself as Sunset Trading Group LTD. This rebranding initiative reflects the company’s commitment to innovation and its focus on emerging opportunities in the financial services sector.

    As part of its expansion plans, the company intends to establish or acquire a non-U.S. subsidiary that will seek registration as an offshore broker-dealer. This subsidiary will specialize in ultra-high-frequency proprietary trading, leveraging advanced trading algorithms and strategies to capitalize on market inefficiencies and drive profitability.

    Commitment to Shareholders

    Baron Capital Enterprise, Inc. extends its sincere gratitude to its shareholders for their patience and unwavering support during this transitional period. The company is dedicated to maintaining open and transparent communication as it progresses through each phase of its strategic plan. Under Mr. Noch’s leadership, Baron Capital is poised to re-emerge as a dynamic and influential player in the financial markets, with a focus on sustainable, long-term growth.

    About Baron Capital Enterprise, Inc. (OTC: BCAP)

    https://www.sunsettg.com

    Baron Capital Enterprise, Inc. (OTC: BCAP) is a publicly traded portfolio company of Jake P. Noch Family Office, LLC., a St. Kitts & Nevis-based single family office. The company is currently undergoing a comprehensive restoration and restructuring process under the leadership of Jake P. Noch. Baron Capital is focused on exploring new business opportunities in the financial services sector, including the establishment of an offshore Broker-Dealer subsidiary to engage in ultra-high-frequency proprietary trading. As part of its transformation, the company plans to rename and rebrand itself as Sunset Trading Group LTD.

    About Jake P. Noch Family Office, LLC

    https://www.jakepnoch.com/

    Jake P. Noch Family Office, LLC is a single-family office with no outside clients, dedicated to strategically investing in Qualified Small Business Stock (QSBS) and fostering the growth of emerging companies. Our firm specializes in guiding these ventures towards successful exits through public market mergers, leveraging our expertise and resources to maximize their potential. At Jake P. Noch Family Office, LLC, we are more than just investors—we are partners committed to the long-term success of the companies we support. Through continuous financial backing facilitated by court-approved 3(a)(10) mechanisms, we provide ongoing support to ensure sustained growth and prosperity, driving value creation and innovation in the businesses we invest in.

    Forward-Looking Statements:

    This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Jake P. Noch Family Office, LLC., BARON CAPITAL ENTERPRISE, INC. to accomplish their stated plan of business. Jake P. Noch Family Office, LLC., BARON CAPITAL ENTERPRISE, INC. believe that the assumptions underlying the forward-looking statements contained herein are reasonable; however, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Jake P. Noch Family Office, LLC., BARON CAPITAL ENTERPRISE, INC., or any other person.

    Non-Legal Advice Disclosure:

    This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.

    Non-Investment Advice Disclosure:

    This communication is intended solely for informational purposes and does not in any way imply or constitute a recommendation or solicitation for the purchase or sale of any securities, commodities, bonds, options, derivatives, or any other investment products. Any decisions related to investments should be made after thorough research and consultation with a qualified financial advisor or professional. We assume no liability for any actions taken or not taken based on the information provided in this communication.

    Contact

    investors@ProMusicRights.com

    Twitter: https://twitter.com/JPNFamilyOffice

    Twitter: https://x.com/Sunset_TG

    SOURCE: BARON CAPITAL ENTERPRISE, INC.

    The MIL Network –

  • MIL-OSI Canada: October Oil and Gas Public Offering Generates $7.3 Million in Revenue

    Source: Government of Canada regional news

    Released on October 31, 2024

    The Government of Saskatchewan’s Crown oil and natural gas public offering, held on Tuesday, October 29, 2024, raised $7,304,936.95 for the province, with the Estevan area generating the majority of the revenue.

    Of the 112 parcels posted for this offering, 93 received acceptable bids, covering a total 15,347.639 hectares.

    The Estevan area generated the most financial interest, bringing in $5,417,916.25 for 56 leases and one exploration licence for a total of 8,330.517 hectares.

    The Kindersley area generated $1,325,636.53 for 21 leases for a total of 5,063.604 hectares.

    Surge Energy Inc. made the highest bonus bid and the highest dollars-per-hectare bid in its offering of $1,369,276.03, or $5,284.76 per hectare. This was for a 259.099 hectare lease in the Estevan area, northeast of Macoun. 

    Millennium Land (444) Ltd. won the single exploration licence posted in this offering, bidding $407,670.71 for a 2,318.023 hectare licence in the Estevan area, south of Minton.

    After four public offerings this fiscal year, the provincial government has raised $37,382,523.18 in revenue. The next offering is scheduled for December 3, 2024. 

    There are six scheduled public offerings of oil and natural gas dispositions held each fiscal year in Saskatchewan. This process uses an open and competitive bidding system to issue oil and natural gas dispositions.

    Several factors affect public offering activity, including changes in oil and gas prices, land availability, geological and technological constraints and various market conditions.

    For more information about oil and gas public offerings in Saskatchewan, please visit the Schedule of Public Offerings webpage on saskatchewan.ca. 

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI: UK-Based HealthTech Startup Definition Health Raises £5.75 million in Pre-Seed Funding to Streamline Surgical Care with Advanced Predictive AI Technology

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Oct. 31, 2024 (GLOBE NEWSWIRE) — Definition Health, a UK-based, clinician-led HealthTech innovator, has secured £5.75 million ($7.5 million USD) in pre-seed funding for surgical care with cutting-edge predictive AI. This funding will further fuel the enhancement of its platform, designed to seamlessly integrate into healthcare systems, transforming surgical workflows. By delivering personalized, data-driven care, Definition Health’s platform improves surgical efficiency, reduces complications, and optimizes outcomes for patients, hospitals, and insurers—positioning the company as the leader in value-based care.

    “Medicine does not stand still, nor should it. In my opinion, Definition Health is quite literally a glimpse into the future,” says Dr. David Redfern, CEO of David Redfern Surgery, Orthopedic Surgeon, and Definition Health Angel Investor. “Not only do Definition Health systems already improve patient safety in the hospital environment but they offer perhaps one of the Holy Grails of medicine – The opportunity to tailor treatments to specific patient attributes. To link a whole host of parameters to outcomes and understand how to improve those outcomes.”

    Co-founded by Dr. Sandeep Chauhan, an internationally renowned practicing orthopedic surgeon with over two decades of clinical experience, and Dr. Rosie Scott, an NHS Clinical Entrepreneur and celebrated radiologist, Definition Health was born from a vision to modernize surgical care by addressing the inefficiencies that burden both clinicians and patients. “We saw firsthand how fragmented the surgical care process was, leading to delays, cancellations, and complications,” said Dr. Chauhan. “Our platform streamlines the entire surgical journey, surfacing actionable patient data to clinicians, enabling them to intervene earlier and make more informed decisions, resulting in better outcomes for patients.”

    U.S. hospitals face increasing pressure to maximize revenue from elective surgeries, a critical income stream that accounts for 48% of hospital gross revenue. With 40% of U.S. hospitals operating at a loss, current solutions are failing to address both financial and clinical inefficiencies. Definition Health combats this by drawing on proprietary data from over 400,000 surgeries to build predictive models that optimize care and mitigate surgical risk. With U.S. healthcare under pressure from staffing shortages, rising costs, and growing surgical demands, Definition Health’s platform integrates predictive analytics and machine learning into clinical workflows to optimize pre-op planning, reduce complications, and accelerate recovery.

    Their platform has already saved the NHS the equivalent of $2.6 million per 40,000 patients by reducing surgical cancellations, and Definition Health is eager to replicate this success in the U.S., where outpatient surgeries are growing exponentially. As a participant in the UK-Florida Life Sciences Trade Corridor, the company is well-positioned to connect with key players in Florida’s healthcare market, including leading hospitals and healthcare systems, making it an ideal partner for U.S. institutions looking to improve efficiency and patient outcomes.

    “As a former NHS Hospital CEO with over two decades of experience, I immediately recognised the transformative potential of Definition Health. Sandeep and Rosie’s vision for revolutionizing end-to-end surgical pathways is not just innovative – it’s essential for the future of healthcare. Their solution is a game-changer, offering tangible benefits for both patients and front-line staff. The evaluation results are not just impressive; they’re indicative of a significant leap forward in healthcare delivery. I am truly excited to see the contribution Definition Health will make to healthcare, not only in the UK and US but on a global scale. This is the kind of innovation that investors and healthcare systems should be paying close attention to.” – Dame Jackie Daniel, former CEO of NHS Newcastle Hospitals, Healthcare Advisor to Definition Health, and Global Luminary for Accenture

    As Definition Health scales, the company is focused on expanding into key U.S. markets, starting with Florida, where the demand for surgical innovation is growing rapidly. With the success of their pre-seed round, Definition Health has opened a Series A funding round to support this growth and foster strategic partnerships in the U.S. By combining AI-powered predictive analytics with seamless clinical integration, Definition Health is transforming surgical care and providing a comprehensive solution to the challenges facing hospitals globally. The company’s success in the NHS, the largest single-payer system in the world, demonstrates its capacity to deliver value-based care at scale.

    About Definition Health
    Definition Health is a clinician-led HealthTech company transforming surgical care through advanced predictive AI technology. By streamlining the entire surgical journey, from pre-op to recovery, its AI-powered platform improves patient outcomes, enhances clinical workflows, and reduces costs for hospitals and insurers. With proven success in the NHS, Definition Health is poised to expand globally, delivering value-based care solutions that address the critical challenges facing modern healthcare systems.

    Contact:
    Sandeep Chauhan, CEO
    hello@definitionhealth.co.uk
    sandeep@lifeboxhealth.com

    Disclaimer: This content is provided by Definition Health. This press release includes forward-looking statements about Definition Health’s future plans and growth, subject to risks and uncertainties that may cause actual outcomes to differ. These statements reflect current expectations and are not guarantees of future performance. Definition Health assumes no obligation to update these statements. This release is for informational purposes only, not investment advice.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/14572bea-f33e-4cbe-b409-d58b9e129005

    The MIL Network –

  • MIL-OSI USA: Hickenlooper, Bennet Bipartisan Colleagues Push for More Temporary Work Visas to Help Small Businesses in Colorado

    US Senate News:

    Source: United States Senator for Colorado John Hickenlooper

    WASHINGTON – Today, U.S. Senators John Hickenlooper and Michael Bennet joined U.S. Senators Angus King and Mike Rounds, alongside 37 of their bipartisan colleagues, to urge the U.S. Department of Labor (DOL) and the U.S. Department of Homeland Security (DHS) to release the maximum number of additional temporary, non-agricultural (H-2B) visas for fiscal year 2025 to support local economies and fill needed roles for American small businesses.

    “Many employers turn to the H-2B program to meet their workforce needs to not only sustain their businesses, but also support their American workers,” wrote the senators. “The H-2B program places requirements on employers to recruit U.S. workers, who are intentionally prioritized by the program and also receive demonstrated, positive impacts from their seasonal colleagues.”

    In Colorado, more than 8,400 temporary H-2B visas were requested by over 250 employers in fiscal year 2021 – reflecting a strong demand for H-2B workers in the state. The H-2B program permits employers to temporarily hire noncitizens to perform nonagricultural labor or services for a limited period of time, such as a one-time occurrence, seasonal, or intermittent need.

    In the letter, the senators highlight recent data from DOL’s Job Openings and Labor Turnover Surveys that shows that the rate of job openings have increased annually for top five H-2B occupations. Landscaping, hospitality, and the ski industry – all key to Colorado’s economy – are among the industries with the highest share of certified H-2B workers

    “As you know, the FY 2025 H-2B first half fiscal year cap was met on September 18, 2024—roughly three weeks earlier than the cap was met in FY 2024. The result is that seasonal employers whose peak seasons are in late fall and winter are capped out before their period of seasonal need begins. Absent cap relief, these employers will be unable to receive temporary, U.S. government-vetted guest workers,” continued the senators.

    Hickenlooper previously introduced the SEASONAL Act which would permit governors to petition the federal government for supplemental H-2B visas beyond the national cap of 66,000. Hickenlooper and Bennet have also pushed DHS and DOL to increase the availability of H-2B visas and worked to ensure that the visa program is efficient and effective.

    The text of the letter is available HERE and below.

    Dear Secretaries Mayorkas and Su:

    We write on behalf of seasonal businesses in our states—including employers of housekeepers in tourist destinations, landscapers with defined seasons, seafood processors with short harvesting windows, and fairs and carnivals—who are struggling to hire a sufficient number of temporary, seasonal laborers to support their operations.

    In light of these labor shortages, we strongly urge the Department of Homeland Security (DHS), in consultation with the Department of Labor (DOL), to utilize the authority provided by Congress in the FY2025 Continuing Appropriations and Extensions Act to release the maximum allowable number of additional H-2B visas for Fiscal Year 2025, as you did for Fiscal Year 2024. These visas will help employers handle their labor challenges, and provide additional certainty regarding their workforce planning decisions in the coming months. We urge you to promptly publish a temporary rule implementing the release of these supplemental visas.

    Many employers turn to the H-2B program to meet their workforce needs to not only sustain their businesses, but also support their American workers. The H-2B program places requirements on employers to recruit U.S. workers, who are intentionally prioritized by the program and also receive demonstrated, positive impacts from their seasonal colleagues. In fact, a 2020 Government Accountability Office report concluded that “counties with H-2B employers generally had lower unemployment rates and higher average weekly wages than counties that do not have any H-2B employers.”

    The most current employment data illustrates the workforce struggles of seasonal businesses nationwide. The Department of Labor’s Job Openings and Labor Turnover Surveys (JOLTS) show the rate of job openings have increased year over year for the industries that represent the top five H-2B occupations. As you know, the FY 2025 H-2B first half fiscal year cap was met on September 18, 2024—roughly three weeks earlier than the cap was met in FY 2024. The result is that seasonal employers whose peak seasons are in late fall and winter are capped out before their period of seasonal need begins. Absent cap relief, these employers will be unable to receive temporary, U.S. government-vetted guest workers. Congress has acknowledged this seasonal labor shortage by providing DHS with the authority to lift the H-2B visa cap for each of the past eight fiscal years. Given the growing demand for H-2B workers as employers continue to struggle with staffing shortages, we encourage you to promptly promulgate a temporary final rule for FY 2025 along the same lines as the FY 2024 rule.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Preston City Council commended in a recent report for its dedication to Community Wealth Building

    Source: City of Preston

    The Centre for Local Economic Strategies, (CLES) recently released ‘Powering Up Planning’, a report investigating different councils’ approach to using the planning system to deliver better outcomes for their towns and cities and how the planning system builds community wealth.

    The findings in the report, were compiled through roundtables and conversations with local authority representatives, planners and planning authorities from across the UK, interested in sharing insights on how their work is demonstrating the social value impact that can be achieved by applicants within the existing planning system.

    In the report’s case studies, CLES took a deep dive into Preston, Salford, Islington and Scotland’s approach to creating Community Wealth Building through the planning system and how it benefited the community.

    Preston was commended for becoming a champion for Community Wealth Building in 2012, when the Council and anchor partners adopted a more active approach to using their procurement spend, land and other assets, and role as major employers to support the development of a more inclusive local economy.

    In 2017, Preston City Council adopted the Central Lancashire Employment and Skills Supplementary Planning Document (SPD) to deliver its ambitions for Community Wealth Building, particularly with regards to local employment and skills. As a requirement, the SPD insists that planning applications for major commercial, employment and residential developments must include an Employment and Skills Statement (ESS).

    Aligning with the SPD, Preston City Council developed Building Foundations, a bespoke and innovative partnership with Calico Enterprise Ltd, a social enterprise based in East Lancashire. Planning applicants can choose to pay Calico to act for the Council and review an ESS which they (the applicant) have prepared; or engage Calico directly to prepare an ESS on their behalf. The cost of monitoring the delivery of all approved ESSs is met through the Section 106 agreement1.

    Building Foundations connects developers with local partners and the Council’s Community Engagement team to encourage the promotion of employment, training and skills to local residents, helping to meet targets approved in ESSs.

    Since Building Foundations was established in November 2021, three developments in Preston East, have been completed under the new partnership, all of which have met or exceeded the targets set out in the ESS.

    There are now 17 signed Section 106 agreements, which require a developer contribution to monitor the delivery of the approved ESS.

    Highlighting the success of this initiative, in June 2024, Preston City Council and Calico were commended for their Building Foundations partnership at the Royal Town Planning Institute North West Awards in the “Excellence in Planning for a Successful Economy” category.

    The Cabinet Member for Community Wealth Building, Councillor Valerie Wise said:

    “The inclusion of Building Foundations in the CLES report and the project’s commendation at the Royal Town Planning Institute’s North West Awards provides more evidence of how Community Wealth Building is benefiting local people by improving access to good jobs and training. We look forward to seeing more jobs and apprentices on sites across the city as more developers start delivering their employment and skills commitments.”

    This new report highlights good practice in applying the principles of Community Wealth Building in innovative ways at Preston and other local authorities to deliver benefits to residents.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Government backs UK R&D with record £20.4 billion investment at Autumn Budget

    Source: United Kingdom – Executive Government & Departments

    Yesterday’s Autumn Budget backs UK’s R&D sector with record highest ever level of government investment.

    DSIT in the Autumn Budget 2024 £20.4 billion to boost UK Science and Tech

    • The Chancellor announced £20.4 billion in investment for UK R&D to drive economic growth, including fully funding association to Horizon Europe research programme
    • Up to £520 million Life Sciences Fund to unlock £1.8 billion in private investment, advance health resilience and create high-quality jobs across the country
    • New R&D investments to power the UK’s national missions, with regional innovation accelerators supporting growth across the country

    At yesterday’s Budget (Wednesday 30 October) the Chancellor has announced the highest ever level of government investment of £20.4 billion in research and development for next year, reinforcing the government’s commitment to back the UK’s R&D ecosystem to drive economic growth and achieve its five national missions.

    The Budget will fully fund the UK’s association with Horizon Europe, providing scientists and innovators access to the world’s largest collaborative funding scheme, with over £80 billion available for cutting-edge projects under the EU scheme. DSIT’s own R&D budget has increased to £13.9 billion, and core research funding has also been increased to a record £6.1 billion, bolstering the UK’s leading research base.  

    A significant part of this Budget is dedicated to the UK’s life sciences sector, a cornerstone for positioning the UK as a leader in science and innovation, through a £520 million commitment to the Life Sciences Innovative Manufacturing Fund.

    Additionally, the Chancellor announced funding for several other programmes to be led by DSIT. Together, these investments underscore the importance of science and technology in driving economic growth essential to raising living standards and funding public services, positioning the UK at the forefront of global innovation and progress.

    Science and Technology Secretary Peter Kyle said:

    The Autumn Budget is clear recognition of this government’s view that driving economic growth and improving people’s lives cannot be done without investing in science and technology.

    That’s why we are taking R&D investment to record levels and matching our words with action by empowering researchers and businesses to solve real-world problems, grow emerging new industries and create high-quality jobs.

    DSIT’s Autumn Budget announcements include:

    Life Sciences Innovative Manufacturing Fund

    The Chancellor unveiled the Life Sciences Innovative Manufacturing Fund (LSIMF), starting with £70 million in grants, as part of a long-term commitment of up to £520 million to secure major life sciences manufacturing investments across the UK.

    This fund strengthens the country’s ability to develop and produce life-saving treatments, ensuring quicker access to vital medicines and bolstering NHS stability.

    The LSIMF is expected to unlock up to £1.8 billion in private investment, supporting thousands of high-skilled jobs and driving economic growth nationwide, while preparing the UK for future health emergencies and enhancing NHS resilience.

    R&D Missions Programme

    The new R&D Missions Programme (RDMP), which we are initially investing £25 million for, will address specific challenges our National Missions face, such as advancing healthcare and transitioning to cleaner energy. Partnering with private and third-sector organisations, this initiative aims to turn scientific advancements into real-world benefits, improving public services and quality of life across the UK.

    Spin-Out Review Proof of Concept Fund

    To support the UK’s Growth Mission, the government is investing £40 million over five years in a Proof of Concept Fund, to turn pioneering university research into successful companies. This initiative aids researchers in bringing their innovative ideas to the market, creating high-potential start-ups that drive job creation and economic growth.

    Successful spinouts like Pragmatic Semiconductor, which raised £182 million to help open its first manufacturing facility and create 500 high-skilled jobs, or Oxford Nanopore with over 1,000 employees, highlight the potential impact of research-led innovation.

    Innovation Accelerators and Made Smarter Innovation programmes

    The government has extended for a further year, two key programmes that promote innovation across UK regions and manufacturing. The Innovation Accelerator programme will continue for another year, focusing on high-potential clusters in the Glasgow City Region, Greater Manchester, and the West Midlands.

    Successes include Chemify, a Glasgow-based spin-out developing new methods for chemical manufacturing, which has since attracted £28 million in private funding, and the Biochar Cleantech Accelerator in the West Midlands, which is creating new products to support green growth. These projects demonstrate the benefits of R&D across the country and its support for regional economic growth.

    Meanwhile, the Made Smarter Innovation programme will continue to be funded with up to £37 million, and empowers manufacturers to adopt digital technologies, enhancing productivity and sustainability by connecting digital solution providers with industry. 

    Project Gigabit

    The government will invest at least £500 million over the next year in Project Gigabit and the Shared Rural Network, accelerating the rollout of digital infrastructure to underserved regions in the UK. The funding aims to deliver full gigabit coverage by 2030, ensuring fast, reliable internet access for communities and businesses, enabling equal access to digital opportunities nationwide.

    Shared Services Strategy

    DSIT will invest up to £80 million to enhance corporate functions across nine government departments. It aims to transform shared services and streamline systems, making them more efficient, modern, and cost-effective, delivering better value for taxpayers.

    Review of barriers to the adoption transformative technologies

    The government has commissioned a review led by the government Chief Scientific Adviser, Professor Dame Angela McLean, and National Technology Adviser, Dr Dave Smith, to identify barriers to adopting transformative technologies. This review will focus on the high-growth sectors in the government’s Industrial Strategy, aiming to enhance and productivity and drive growth to boost the UK economy.

    In response to today’s Budget, Sir Adrian Smith, President of the Royal Society, said:  

    It is very good news for the science sector and for the UK that the Chancellor has recognised research and innovation as a ‘crucial national asset’ for delivering long-term economic growth. 

    Protecting the science budget, despite the challenges facing public finances, and investing £20.4 billion in 2025/2026, will create conditions that generate new knowledge, boost productivity and unlock opportunities for every corner of the UK. 

    There is clear recognition that delivery of net zero and support for innovation in growth sectors, like AI, will be key to capturing these economic opportunities. 

    The Chancellor rightly recognises that investing in education and skills today lays the foundation for the UK’s future prosperity and international competitiveness. Recruitment of specialist science teachers and reform of mathematical education as part of the upcoming curriculum review will be key to delivering this pledge.

    Professor Andrew Morris PMedSci, President of the Academy of Medical Sciences, said:

    With this Budget, we are pleased that the government has recognised the pivotal role of research and innovation in powering economic growth and prosperity. The Academy will continue to support this by working with our partners to deliver the best possible outcomes for research and for the health of people everywhere. 

    It is encouraging that the Chancellor is providing much-needed stability for our research community by protecting core R&D budgets and we particularly welcome the real-terms increase in National Institute for Health Research investments, which are an important step towards delivering health research and innovations for patients across the UK.  

    The government’s commitment to fully cover the cost of the Horizon Europe programme is essential for advancing medical science and addressing global health challenges across borders and we encourage the UK research community to actively pursue these funding opportunities.

    By recognising innovation as one of the seven pillars of its Growth Mission, alongside the commitment to establish 10-year budgets in the Spring Statement and a roadmap to rebuild the NHS, the government is signalling an important shift to longer-term thinking. Stable, sustained funding is crucial for fostering productive partnerships between academia, industry and the NHS, and enabling the kind of transformative research that improves the lives of people across the UK.

    Dr Tim Bradshaw, Chief Executive of the Russell Group said:

    In a challenging fiscal landscape, we are pleased to see the government has protected the R&D budget, including core research funding, and recognised the value of research and innovation as a key pillar of the growth mission. This will allow universities to continue to deliver on growth and productivity, contributing to job creation, regional investment and advances that improve public services.

    We particularly welcome the introduction of a multi-year R&D missions programme which highlights the role of R&D in achieving the government’s top priorities, including the Industrial Strategy. We are also very encouraged to hear that full funding has been made available for our association to Horizon Europe. In both of these areas we will be working with our partners across industry and academia to maximise the benefits for the UK.

    Continuing to grow R&D investment for the UK, including in fundamental research, will be crucial to creating new industries, leveraging private investment and delivering high-value jobs across the country.

    DSIT media enquiries

    Email press@dsit.gov.uk

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

    Updates to this page

    Published 31 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI USA: A Proclamation on National Entrepreneurship Month,  2024

    US Senate News:

    Source: The White House
         Entrepreneurs embody the essence of America — their ideas and energy have always kept our country on the cutting edge, and their determination and drive uplift communities, create millions of jobs, and keep our Nation moving forward.  This month, we celebrate their unstoppable spirit.
         Supporting entrepreneurs, especially small business owners, has always been key in growing our economy from the middle out and bottom up, giving everyone a fair shot to get ahead.  Many entrepreneurs are at the heart and soul of their communities, running the mom-and-pop shops that are the glue of our neighborhoods.  But when Vice President Harris and I took office, hundreds of thousands of small businesses had been forced to close down due to the pandemic, and millions more were hanging by a thread.  Not only were entrepreneurs’ livelihoods on the line but also their life’s savings and hopes of growing wealth for the next generation. 
         That is why Vice President Harris and I were committed to investing in America’s entrepreneurs and innovators.  My American Rescue Plan provided billions of dollars in capital and support to small businesses.  My CHIPS and Science Act is investing more into research and manufacturing than ever before, building the high-tech industries of the future and the small-business supply chains to support them right here at home while helping them expand their businesses in high-growth, high-wage industries.  And my Inflation Reduction Act is incentivizing manufacturers to help tackle the climate crisis using American suppliers while cutting down on entrepreneurs’ overhead costs like health insurance and energy bills.
         The Biden-Harris Administration is also committed to ensuring every small business and entrepreneur has a fair shot.  This year, the Small Business Administration (SBA) provided a record $56 billion through more than 100,000 small business financings — the most in more than 15 years and a 50 percent increase over 2020.  The Federal Government has invested tens of billions of dollars into small disadvantaged businesses.  The SBA is lending tens of billions of dollars to small businesses that would otherwise struggle to access capital.  Since 2020, the number of SBA-backed loans doubled for women-owned businesses, tripled for Black-owned businesses, more than doubled for Latino-owned businesses, and increased by about 70 percent for Asian American-owned businesses.  And my Bipartisan Infrastructure Law also made the Minority Business Development Agency permanent to help close the gap for these and other entrepreneurs from underserved and underrepresented communities too long left behind. 
         Today, entrepreneurs across the country have filed nearly 20 million new business applications since Vice President Harris and I took office — each an act of hope and confidence in our economy.  A record number of those businesses are being opened by Black, Latino, and women entrepreneurs.  And 16 million new jobs have been created.
         I have often said that America can be defined in one word:  possibilities.  That is what entrepreneurship is all about.  During National Entrepreneurship Month, we honor every entrepreneur with a vision for something better and the grit to make it real, growing our economy and creating new possibilities for everyone.
         NOW, THEREFORE, I, JOSEPH R. BIDEN JR., President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim November 2024 as National Entrepreneurship Month.  I call upon all Americans to commemorate this month with appropriate programs and activities and to celebrate November 19, 2024, as National Entrepreneurs’ Day.
         IN WITNESS WHEREOF, I have hereunto set my hand this thirty-first day of October, in the year of our Lord two thousand twenty-four, and of the Independence of the United States of America the two hundred and forty-ninth.
                                 JOSEPH R. BIDEN JR.

    MIL OSI USA News –

  • MIL-OSI USA: A Proclamation on National Native American Heritage Month,  2024

    US Senate News:

    Source: The White House
         During National Native American Heritage Month, we honor the history, rich cultures, and vast contributions of Native peoples.  We celebrate the hundreds of Tribal Nations that are ushering in a new era in our Nation-to-Nation relationships.  And we recommit to respecting Tribal sovereignty and self-determination and working in partnership with Tribal Nations to bring new prosperity and security to Native peoples.
         Indigenous peoples’ history in the United States is defined by strength, survival, and a deep commitment to and pride in their heritage, right to self-governance, and ways of life.  Native peoples have built and sustained powerful Tribal Nations, and the knowledge they developed still benefits us today.  However, our Nation’s failed policies of the past subjected generations of Native peoples to cruelty, violence, and intimidation.  The forced removal of Native peoples from their homes and ancestral homelands; attempts to assimilate entire generations; and stripping of Indigenous peoples of their identities, cultures, and traditions are some of the darkest chapters of our Nation’s history.  The trauma and turmoil fundamentally altered their communities.  As the first President to visit Indian Country in 10 years, I delivered a national apology for the unspeakable harms caused to Native peoples at Federal Indian Boarding Schools.
         Indigenous peoples have persisted and survived — a testament to their resilience and resolve.  Today, Native communities are leading the way forward and continuing to strengthen the fabric of the United States.  They have long served in the United States military and currently serve in the highest levels of government — including the Secretary of the Interior, Deb Haaland, America’s first Native American Cabinet secretary.  In every field and sector, Native peoples are pushing for progress and contributing to our shared prosperity.  
         Since I came into office, the Federal Government has made record investments in Tribal Nations.  Federal contracts with Native American-owned companies increased by over $8 billion from 2020 to 2023.  My American Rescue Plan made the largest direct Federal investment in Tribal Nations ever, helping vaccinate Tribal communities during the COVID-19 pandemic and keeping the economy going.  My Bipartisan Infrastructure Law made the single biggest investment in Tribal roads, bridges, water, high-speed internet, electricity, irrigation, environmental cleanup, and so much more.  My Inflation Reduction Act made the biggest investment in fighting climate change ever — including funding to help Tribal communities lead in the just transition to clean energy and ease the impact of droughts, wildfires, and rising sea levels, which threaten Native lives and precious homelands. 
         My Administration is also working to ensure that Native communities are safe and secure and have the resources they need to thrive.  I signed an Executive Order that improves the Federal response to the epidemic of missing and murdered Indigenous peoples.  When we reauthorized the Violence Against Women Act in 2022, we included historic provisions to reaffirm Tribal sovereignty and expand Tribal jurisdiction in cases where outside perpetrators harm members of their Nation.  And for the first time ever, my Administration also secured advance funding for the Indian Health Service so hospitals can plan ahead, order supplies, and hire doctors.  We have provided historic funding to Tribal communities to help fight the behavioral health crisis and taken significant steps to improve maternal health for Native American women, who are twice as likely to die from pregnancy-related complications as white women. 
         I have always believed that we must know the good, the bad, and the truth of who we are as a Nation — we must acknowledge our history so that we can begin to remember and heal.  That is why I became the first President to issue a formal apology for the Federal Indian Boarding School era, one of the most horrific chapters in our Nation’s history.  For 150 years, the Federal Government mandated the removal of Native children from their families and Tribes — and as a result, generations of Native children had their childhoods stolen and whole Tribal cultures were erased.  I am proud to formally end the silence surrounding this shameful era and I remain proud that my Administration defended the Indian Child Welfare Act in court, ensuring that our Nation respects Tribal sovereignty and protects Native children by helping Native families stay together and grow up with their languages and cultures.  And we are working to support Native American families and communities as they heal from the Federal Indian Boarding School era through the Department of the Interior’s Road to Healing initiative and by supporting Native language preservation and public safety initiatives.  
         My Administration has also worked with Tribal Nations to preserve, protect, and steward important ancestral Tribal lands and waters.  Through more than 200 co-stewardship and co-management agreements signed under my leadership, we are working side by side with Tribes to make decisions about how to manage the lands that are most precious to them.  And to date, I have protected and conserved more than 45 million acres of our Nation’s lands and waters.  That includes the Chumash Heritage National Marine Sanctuary, vast offshore waters off California’s coast and the first sanctuary to be proposed by Indigenous communities.  I have also established, expanded, and restored 11 national monuments, many containing sites considered sacred to Tribal Nations — from Bears Ears National Monument, Grand Staircase-Escalante National Monument, and Avi Kwa Ame National Monument to Baaj Nwaavjo I’tah Kukveni-Ancestral Footprints of the Grand Canyon National Monument, Berryessa Snow Mountain National Monument, and others.  
         During National Native American Heritage Month, we honor the heritage and contributions of Native peoples, and we work tirelessly to build a future grounded in dignity, respect, and partnership.  We remain committed to working with Native communities to write a new and better chapter in American history for Tribal Nations — one that honors the solemn promise the United States made to Tribal Nations, fulfills our Federal trust and treaty obligations, and works together to rebuild Tribal economies and institutions.  
         NOW, THEREFORE, I, JOSEPH R. BIDEN JR., President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim November 2024 as National Native American Heritage Month.  I urge all Americans, as well as their elected representatives at the Federal, State, and local levels, to observe this month with appropriate programs, ceremonies, and activities.  Also, I urge all Americans to celebrate November 29, 2024, as Native American Heritage Day.
         IN WITNESS WHEREOF, I have hereunto set my hand this thirty-first day of October, in the year of our Lord two thousand twenty-four, and of the Independence of the United States of America the two hundred and forty-ninth.
                                   JOSEPH R. BIDEN JR.

    MIL OSI USA News –

  • MIL-OSI USA: A Proclamation on National Veterans and Military Families Month,  2024

    US Senate News:

    Source: The White House
         Each veteran and military family represents a link in a chain of honor that stretches back to our founding days, unwavering in their devotion to their loved ones who served in uniform.  This month, we honor all of our military and veteran families.  They too serve and sacrifice to answer our Nation’s call to duty.  We owe them a debt of gratitude we can never fully repay.
         I often say that, as a Nation, we have many obligations, but only one is truly sacred:  to prepare and equip those we send into harm’s way and to care for them and their families when they come home.
         We are continually working to make sure that our Nation’s veterans and service members have access to the benefits and care they deserve.  I have signed more than 34 bipartisan bills to better support our service members, veterans and their families, caregivers, and survivors.  One of those bills, the Sergeant First Class Heath Robinson Honoring our Promise to Address Comprehensive Toxics (PACT) Act, was the most significant expansion of benefits and services for toxic-exposed veterans and survivors in nearly 30 years.  To date, more than 1.1 million veterans and over 11,000 survivors are now receiving new service-connected disability benefits, and over 796,000 veterans have newly enrolled in Veterans Affairs health care since the law was enacted.  This law is helping families who lost loved ones to toxic illness gain access to critical resources and services, including monthly benefits, educational assistance, home loans, and more.  Actions outlined in our national strategy to prevent military and veteran suicide are tackling the root causes of the military and veteran suicide crisis, including by better supporting families through the Governor’s Challenge to Prevent Suicide Among Service Members, Veterans, and their Families.  And we are making progress in eliminating homelessness and improving financial security for veteran and military families.  Too often, veteran and military families become the targets of bad actors and scam artists.  My Administration’s Veteran Service Member Family Fraud Evasion initiative is providing easy, one stop access to resources to report fraud and get help from the Federal Government to combat scams.  Additionally, I signed an Executive Order that implemented historic, bipartisan military justice reforms to transform how the military handles sexual assault and domestic violence cases.  And I directed the Department of Defense to review pay and benefits for our service members — an important step toward ensuring their compensation reflects their service and sacrifice.
         Military-connected families sacrifice for our country, answering the call to duty over and over again.  Many military and veteran spouses, caregivers, and survivors struggle to achieve their desired career goals due to unique challenges military-connected families face.  This is why I signed an Executive Order that takes the most comprehensive set of administrative actions in history to support the economic security of military families and veterans’ spouses, caregivers, and survivors.  I encouraged Federal agencies to do more to retain military spouses through flexible policies, ensuring they have access to stable jobs throughout their careers.  Last year, I signed an Executive Order that directed more than 50 actions to improve the care economy, which included critical actions to better support military and veteran caregivers and expand access to military child care.  These orders build on the efforts taken by my Administration to improve the quality of life for military families, including initiatives to ease military moves, afford housing, and find child care.  Joining Forces, the First Lady’s initiative, is working to better support military and veteran families — doing everything from making school transitions easier for military children to expanding economic opportunities for military spouses and caregivers.
         This is personal for my family and for me.  We know the pride of seeing your child wear the uniform of the United States.  We know the pain of long deployments far from home.  We know what it is like to pray for the safe return of someone you love.  This month, may we show our immense gratitude for our military and veteran families, whose courage and dedication represent the best of who we are as a Nation.
         NOW, THEREFORE, I, JOSEPH R. BIDEN JR., President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim November 2024 as National Veterans and Military Families Month.  I call upon the people of the United States to honor veterans and military families with appropriate ceremonies and activities.
         IN WITNESS WHEREOF, I have hereunto set my hand this thirty-first day of October, in the year of our Lord two thousand twenty-four, and of the Independence of the United States of America the two hundred and forty-ninth.
                                   JOSEPH R. BIDEN JR.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Putin’s illegal war on Ukraine is reckless and self-harming: UK statement at the UN Security Council

    Source: United Kingdom – Executive Government & Departments

    Statement by Fergus Eckersley, UK Minister Counsellor, at the UN Security Council meeting on threats to international peace and security.

    Location:
    United Nations, New York
    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    Let me start with a basic fact. Western support for Ukraine’s self-defence is both legal and moral. Any support for Russia’s act of aggression, whether by Iran, DPRK or anyone else, is neither.

    Russia calls these meetings to talk up the scale and costs of Western support for Ukraine, to try to undermine public support, and to claim the West is the aggressor. But their concerns should really be closer to home.

    It is clear where President Putin’s priorities lie: defence and national security will consume over 40% of Russia’s entire federal spending next year – a post-Soviet record high, exceeding expenditure on healthcare, education, and the environment combined.

    Let me repeat that: the Russian government is spending more on killing Ukrainians and trying to steal their land than it is on the health and education of its own people, and the environmental protection of its own territory, all put together.

    It is reckless and it is self-harming.

    It has fueled inflation, forced interest rates up to a 20-year high, and increased dramatically the cost of government, corporate and household borrowing.

    As a consequence, Russia has become poorer than all G7 and EU countries on a per capita basis, including Eastern bloc states.

    The more Russian capital is funneled into defence spending, the weaker the finances of the Russian economy, which will directly harm the livelihoods and futures of Russia’s own people.

    The costs of Russia’s aggression go further. Not only is the Russian government finding it harder to recruit Russians to sacrifice their lives for its illegal war, they are also haemorrhaging human capital at home.

    Russian citizens are leaving Russia at a rapid rate, especially high-skilled workers. 668,000 people left Russia in 2022, causing severe labour shortages. That’s in addition to the over 600,000 casualties on the battlefield in Ukraine. It’s no surprise that Russian economists have predicted these labour shortages are set to continue.

    So Russia’s out-of-control defence spending is not only wholly unjustified; it is not only a recipe for misery and suffering in Ukraine; it is not only driving global instability– it is also hugely damaging to Russia itself.

    We urge Russia to take a different path, and to bring to an end its illegal, unprovoked and self-harming invasion.

    Until then, we will continue to provide Ukraine with the support it requires to defend itself and to secure a just and lasting peace in line with the UN Charter.

    Updates to this page

    Published 31 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI USA: SCHUMER: THIS IS IT! AFTER YEARS OF ADVOCACY, ALBANY NANOTECH SELECTED AS AMERICA’S FIRST NATIONAL SEMICONDUCTOR TECHNOLOGY CENTER – CREATED BY HIS CHIPS & SCIENCE LAW

    US Senate News:

    Source: United States Senator for New York Charles E Schumer

    Schumer Lands A Whopping $825 Million Initial Federal Investment And Establishes Albany NanoTech As Fed Headquarters For Semiconductor Research; A Once In A Generation Recognition Making The Capital Region A Chip R&D Center For The Entire World

    Schumer Created NSTC Program — With Albany As His North Star — And Worked Relentlessly To Secure This Prestigious Investment, Bringing Good-Paying Jobs, New Companies, And Innovation With Most Advanced Machinery In World To Upstate NY

    Schumer: A Historic Moment. Uncle Sam Just Picked Upstate NY & The Capital Region As THE Place To Develop The Future Of America’s Chip Industry

    After years of relentless advocacy, U.S. Senate Majority Leader Chuck Schumer today announced Albany NanoTech has been selected as America’s first location for the National Semiconductor Technology Center (NSTC) supported by an up to $825 million federal investment from Schumer’s bipartisan CHIPS & Science Law.

    The NSTC is a critical part of Schumer’s and the Biden-Harris Administration’s mission of re-establishing America’s leadership in the semiconductor industry and will bring together industry leaders, researchers from the nation’s top universities, innovators, and entrepreneurs to help give them access to the most advanced chip making machinery in the world and drive the next frontier of innovation.

    “This is the dawn of a new day for Upstate NY and a turning point in U.S. leadership in semiconductor research. I am proud to announce America’s first major National Semiconductor Technology Center facility will be right here in Albany. This will help ensure advancements in semiconductors that will shape the next century are stamped ‘Made in America’ and not developed and made in places like China,” said Senator Schumer. “Today, Uncle Sam is saying that Albany NanoTech is THE place for developing the next frontier of America’s technological future. I wrote the NSTC in my CHIPS & Science Law with Albany NanoTech as my inspiration, and now that dream is becoming a reality. Today we help usher in America’s next era of chip research and manufacturing, with Upstate NY leading the way.”

    The Department of Commerce and Natcast, the operator of the NSTC, will invest an initial up to $825 million to further build out equipment at Albany NanoTech, to conduct cutting-edge extreme ultraviolet (EUV) research and development (R&D), and to establish an NSTC presence with offices and support services in Albany. Today’s announcement not only makes Albany NanoTech the CHIPS for America R&D flagship facility but also the headquarters for national EUV research as the country’s NSTC EUV Accelerator. EUV technology is essential to the semiconductor industry and some of the most advanced machinery in the world, in which light is used to print patterns and make chips on wafers. EUV lithography is what has allowed the breakthroughs to make this technology nanoscopic and allows for the chips that power everything from smartphones, computers, and vehicles to artificial intelligence. Albany NanoTech will soon be one of the only two public facilities in the world with the most advanced EUV technology, a High NA Extreme Ultraviolet Lithography tool, and will be the only publicly-owned High NA EUV Center in North America.

    Schumer continued, “The NSTC is a historic and new effort by the federal government to fuel the quest to make breakthroughs in chips that engineers today cannot even fathom, just as Albany NanoTech had produced before, including most recently with the development of the world’s first 2 nanometer chip. This $825 million initial federal investment will further equip Albany NanoTech and fund EUV research projects that are central to the global chip industry, ensuring the U.S. leads the world in semiconductor innovation and manufacturing, with the Capital Region and Upstate NY central to that effort.”

    Schumer explained that the state-of-the-art new EUV facility at Albany NanoTech and today’s designation and federal investment will help the United States establish dominance in advanced semiconductor research and development. The NSTC EUV Accelerator will help address gaps in American knowledge about semiconductors and provide information to stakeholders including universities, small businesses and entrepreneurs, large manufacturers, and government agencies by providing NSTC members with access to EUV technology to facilitate research and commercialization.

    The NSTC EUV Accelerator at Albany NanoTech will be a place for leaders in the semiconductor industry to conduct research and collaborate, including bringing industry leaders like Micron, IBM, GlobalFoundries, Applied Materials, Tokyo Electron, ASML, and more to the table to partner on next-generation R&D. Being designated the EUV accelerator will also open up opportunities for Albany NanoTech and Upstate NY to attract further federal investment and help attract more companies from around the world to Albany to conduct research, all with the potential of creating more good-paying jobs and making Upstate NY a global leader in semiconductors. The U.S. Department of Commerce and Natcast intend for the NSTC EUV Center at Albany NanoTech to be operational by 2025. 

    Schumer added, “Having the federal headquarters for EUV research that is critical to the most advanced chip development in the world will benefit every corner of NY. It will supercharge the historic investments and thousands of new, good-paying jobs the chip industry has proposed across the state, spurred by my CHIPS & Science Law. The NSTC will help complete my vision of Upstate NY’s I-90 corridor becoming America’s Semiconductor Superhighway. From our Tech Hub in Western NY and Rochester to Micron’s massive $100+ billion planned investment near Syracuse and Wolfspeed’s investment in the Mohawk Valley, to now the National Semiconductor Technology Center here in Albany.”

    The NSTC, first authorized by Schumer in 2020 and then funded by the CHIPS & Science Law, which Schumer crafted and led to passage, will bridge the gap between research and industry to bolster semiconductor research and development for the U.S. and its allies. Today, practically none of the most advanced chips – which are critical to national security and growing industries like artificial intelligence – are manufactured in the United States. The research conducted through the NSTC will help ensure the U.S. remains on the cutting-edge globally in chip R&D and bring this manufacturing back to the United States, boosting local economies by creating good-paying jobs and strengthening the country’s national security.

    The EUV Center at Albany NanoTech is the first of three planned major NSTC facilities. The U.S. Department of Commerce has not yet made announcements about the NSTC’s Administrative and Design Facility and Prototyping and NAPMP Advanced Packaging Piloting Facility. Together, these three major hubs will lead the NSTC’s core functions and help fulfill the CHIPS & Science Law’s vision of developing more American-made technology and boosting America as a global semiconductor leader. The new NSTC EUV Center at Albany NanoTech will also open the doors to millions of dollars in additional awards and research opportunities with the federal government, as well as help bring in additional industry partners to leverage the state-of-the-art facilities to develop and manufacture advanced chips.

    Schumer said, “In the past two years, the federal government has made unprecedented investments in Upstate NY because of my CHIPS & Science Law. They listened when I said this community is the most qualified in the nation to bring this industry back from overseas, the most ready to build America’s future, and the NSTC is the crown jewel that will complete this vision as the centerpiece of research in the most cutting-edge chip development.”

    “From day one of my administration, I pledged that New York State would lead the charge to bring back advanced manufacturing and R&D to the U.S., creating good jobs and opportunity in the process,” Governor Hochul said. “Thanks to the winning combination of federal CHIPS funding and New York’s determination and ingenuity, the Albany NanoTech Complex will be home to the CHIPS for America EUV Accelerator, an NSTC Facility, and fuel America’s advanced manufacturing renaissance. I thank the Biden-Harris Administration, the Department of Commerce, Natcast, and our federal delegation for their partnership as we continue to work together to advance U.S. semiconductor leadership, safeguard our national security and create a brighter future for all.”

    “Building up America’s domestic semiconductor industry is critical to create good-paying jobs, protect our supply chains, and strengthen our national security, and I’m proud to see New York leading this effort,” said Senator Gillibrand. “Upstate New York is already a hub for cutting-edge semiconductor manufacturing, research, and development, and the designation of NY CREATES’ Albany NanoTech Complex as the location of the CHIPS for America EUV Accelerator will help us maintain our status as a global leader in such a vital industry. I fought hard to pass the CHIPS and Science Act, and I’m proud to see this historic legislation bring scientific innovation and economic development to the Capital Region.”

    “Today is a monumental moment for our region, for job creation, for cutting-edge research, and for our 21st century precision economy,” Congressman Paul Tonko (NY-20) said. “In the years since Congress passed the CHIPS and Science Act, I have been relentlessly advocating alongside the many stakeholders who call NY CREATES home to leverage the shovel-ready infrastructure and advanced R&D capabilities right here at the Albany NanoTech Complex. Our region has long been poised to take the reins to steer America’s semiconductor revitalization and, thanks to the pioneering work and sound investment of New York leadership, local chip manufacturers, researchers, educational institutions, and other stakeholders, that reality is upon us. I’m thrilled to celebrate this groundbreaking announcement and remain as determined as ever to secure strong federal action that delivers for American workers, consumers, and communities.”

    NY CREATES’ President Dave Anderson said, “With a legacy spanning more than 20 years of technological achievements, NY CREATES and our industry partners have been central to establishing and growing New York’s — and the nation’s — semiconductor R&D ecosystem. This is an historic moment for New York and the semiconductor industry, and we look forward to working closely with Natcast to leverage our resources, capabilities, and know-how to bring this innovative vision to fruition. We are thrilled that the NSTC at NY CREATES will become an even greater beacon of opportunity and collaboration for our partners as we transform today’s ideas into tomorrow’s technologies. Together, we can shape the future and in doing so, bolster America’s economic and national security while cementing our position as a global leader. We are grateful to Governor Hochul, whose unwavering commitment to the industry has positioned NY CREATES to host the NSTC EUV Center, and to Majority Leader Schumer, who not only helped author and lead to passage the CHIPS & Science Act but also made the case for Albany NanoTech’s leadership of the NSTC, all of which makes today’s investment possible.”

    “Nearly 20 years ago, ASML shipped one of the world’s first EUV lithography demo tools to Albany, NY. The important role that New York has played in the industrialization of this critical technology is reflected in today’s announcement that the NSTC EUV Accelerator will be based at the Albany NanoTech Complex. The first chips made using High NA, ASML’s most advanced EUV tool, will power the technology of the future: robotics, artificial intelligence, the internet of things, and beyond. As we work with partners across the industry to push technology to new limits, we applaud Senator Schumer and Governor Hochul’s clear commitment to semiconductor innovation in the U.S.,” said Christophe Fouquet, President and CEO of ASML.

    “GF applauds the decision to base the NSTC EUV Accelerator in Albany, NY. Building on years of R&D, semiconductor leadership and ecosystem partnerships, this center will stimulate innovation and work to develop the talent our industry needs to continue to grow and succeed. Congratulations to NYCREATES and thank you to Senator Schumer and Governor Hochul for their enduring leadership and commitment to strengthening both the U.S. and NY semiconductor industry,” said Dr. Thomas Caulfield, president and CEO of GlobalFoundries.

    “We are thrilled that New York State has been selected as the home of our nation’s first NSTC EUV Center. For over 20 years, IBM and our public-private partners at NY CREATES’s Albany NanoTech Complex have produced many of the technical breakthroughs that have propelled the semiconductor industry forward. Thanks to Sec. Raimondo, Gov. Hochul, Sen. Schumer, and many others, the new Center in Albany will support the United States’ mission to lead global chip innovation,” said Arvind Krishna, Chairman and CEO of IBM.

    “The compelling factors for Micron in choosing New York as home to our megafab are the rich ecosystem in support of research and development, synergistic university partnerships, an exceptional talent pipeline, and strong public support, which fosters an environment to grow semiconductor R&D in the U.S.  Micron is pleased to see that the U.S. Department of Commerce has awarded the NY CREATES Albany NanoTech Center the designation of being named the NSTC’s EUV Accelerator. Thanks to the leadership of Majority Leader Schumer and Governor Hochul, we will be able to scale our memory technology leadership and advance next-generation semiconductor R&D,” said Scott DeBoer, Micron’s Executive Vice President, Chief Technology and Products Officer.

    “The announcement of the National Semiconductor Technology Center here in New York State is a monumental step forward, not only for Wolfspeed but for the entire U.S. semiconductor industry. This Center will become a cornerstone of innovation, helping drive the research, development, and workforce training critical to meeting the world’s surging demand for advanced semiconductor technology. Thanks to Senator Schumer’s visionary leadership, New York State is now positioned at the forefront of this vital industry, advancing our nation’s technological independence and reinforcing its global leadership,” said Gregg Lowe, CEO of Wolfspeed.

    THIS HAS BEEN A YEARS-LONG EFFORT BY SCHUMER TO LAND THE NSTC IN THE CAPITAL REGION

    Schumer has worked for years to highlight Albany NanoTech and the Capital Region’s ability to lead the country’s semiconductor research and development efforts. In December 2020, after Schumer worked with key stakeholders across the semiconductor industry, including key partners at Albany NanoTech like IBM to develop the federal CHIPS programs, including the NSTC, he successfully authorized these programs in law as part of the Fiscal Year 2021 National Defense Authorization Act.

    In addition to directly highlighting Albany NanoTech to President Biden, Schumer has brought top government officials to the Capital Region to promote Albany NanoTech as a major hub for the NSTC. In July 2021 prior to the passage of the CHIPS & Science Law, Schumer brought Commerce Secretary Gina Raimondo to Albany to show that Albany is a global leader in semiconductor research and development. Schumer brought Commerce Deputy Secretary Don Graves to tour Albany NanoTech’s facility in January 2022 and National Economic Council Director Lael Brainard toured the facility in February 2024 after Schumer’s invitation. In 2023, Schumer additionally brought Albany Nanotech head David Anderson as his personal guest to President Biden’s 2023 State of the Union to highlight the facility and leadership.

    Schumer has also promoted Albany NanoTech while meeting with both semiconductor industry and international leaders. Schumer highlighted Albany NanoTech when pitching Micron to locate their massive $100+ billion megafab project in Upstate NY, which Micron said was a critical factor in their selection of Central NY. Schumer also secured a commitment for South Korea to partner with Albany Nanotech on research, pushed for increased collaboration on semiconductor R&D between Japan and the United States, pitched Albany NanoTech to major Japanese chip suppliers for further investment, and met with the leadership of Belgium’s imec on multiple occasions to discuss ways Albany NanoTech and imec can collaborate as the two global leading semiconductor public-private research institutions. Schumer said these international partnerships underscore the ability of Albany NanoTech’s unique and world-renowned assets to help forge deeper ties with allies and partners in building more resilient chip supply chains and encouraging R&D collaboration, a key national security priority of the CHIPS programs, including the NSTC.

    Late last year, Schumer and Governor Hochul announced a new $10 billion public-private investment at Albany Nanotech which will help install a High NA EUV lithography machine, the most advanced semiconductor equipment ever made, designed, and manufactured by ASML, at its Albany NanoTech Complex. Schumer said this helps uniquely prepare them to quickly lead the NSTC as one of only two public research institutions in the world home to the new advanced EUV tool. In September 2023, Schumer announced NY CREATES, which leads Albany NanoTech, as one of the first to tap CHIPS funding with a $40 million award through the CHIPS DoD Microelectronics Commons Program to establish a new consortium, known as the Northeast Regional Defense Technology Hub. In September 2024, the consortium received an additional $30 million. Schumer also recently helped secure $4.7 million from the National Science Foundation for NY CREATES to provide workforce training associated with Albany NanoTech. These funds, made possible by a program boosted in the CHIPS & Science Law, will support the establishment of the Education Alliance for Semiconductor Experiential Learning (EASEL) program to help address the growing national demand for a skilled workforce in the semiconductor industry.

    ACROSS NEW YORK THE CHIPS & SCIENCE LAW HAS DELIVERED HISTORIC INVESTMENT & IS CREATING THOUSANDS OF GOOD-PAYING JOBS

    Thanks to Schumer’s CHIPS & Science Law, Upstate New York has seen a major revival in tech manufacturing. Micron has announced plans for a historic $100+ billion investment to build a cutting-edge memory megafab in Central New York with the support of an over $6 billion preliminary CHIPS agreement. GlobalFoundries plans to invest over $12 billion to expand and construct a second, new state-of-the-art computer chip factory in the Capital Region, with support from a $1.5 billion preliminary CHIPS agreement. Wolfspeed has opened a 200mm silicon carbide fabrication facility in the Mohawk Valley, one of the largest in the world, with a $750 million preliminary CHIPS agreement accelerating their ongoing expansion in the Mohawk Valley and boosting good-paying jobs expected to be created at the Marcy facility. TTM Technologies, a printed circuit board manufacturer, plans to invest up to $130 million to expand its facilities in Onondaga County, supported by federal investment to strengthen domestic supply chains, creating up to 400 good-paying jobs. Menlo Micro will invest $150 million to build their microchip switch manufacturing facility in Tompkins County, creating over 100 new good-paying jobs. In addition, Upstate New York is home to semiconductor supply chain companies like Corning Incorporated, which manufactures glass critical to the microchip industry at its Canton and Fairport, NY plants, and following Schumer’s advocacy, Edwards Vacuum has announced a $300+ million investment to build a dry pump manufacturing facility, made possible by a $18 million preliminary CHIPS agreement, creating 600 good-paying jobs to support the growing chip industry in Western New York. Earlier this year, Schumer also secured a major $40 million in federal funding for the federally-designated “NY SMART I-Corridor Tech Hub”, one of only 12 awardees nationally, to further position Upstate NY as a semiconductor center for the world.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: ‘Green’ tea and economic growth on the menu at Minister’s SUKI TEA visit

    Source: United Kingdom – Executive Government & Departments

    Minister Anderson discusses UK Government’s plans for investment and growth in Northern Ireland which follows the Budget’s largest real terms settlement for Northern Ireland since devolution. 

    Minister Anderson with SUKI TEA co-founder, Oscar Wooley.

    Parliamentary Under-Secretary of State for Northern Ireland, Fleur Anderson MP, highlighted Northern Ireland’s crucial role in delivering the Government’s missions of kickstarting economic growth and making the UK a clean energy superpower during today’s (Thursday 31 October) visit to Lisburn-based global tea exporter SUKI TEA.

    Minister Anderson met with SUKI TEA’s co-founder, Oscar Woolley and took part in a tour of the factory and a tea tasting, enjoying blends which included SUKI TEA’s own Northern Ireland-grown tea. SUKI TEA uses fair trade products and as a result, are an ethically responsible company. 

    The Minister and Mr Woolley discussed the opportunities and challenges facing the company, including the £500k investment SUKI TEA has made in its eco-friendly headquarters, and the Government’s Industrial Strategy, “Invest 2035”. 

    Reflecting on the “Invest 2035” Industrial Strategy, which will be developed in lockstep with local and regional leaders, the Minister highlighted how it will enable innovative and enterprising companies like SUKI TEA adapt and grow in key areas to support Net Zero, regional growth and economic security and resilience. The public consultation on this strategy closes on 24 November. 

    Speaking after the visit, Minister Anderson said:

    SUKI TEA is a perfect example of the crucial role Northern Ireland businesses play in delivering this Government’s missions to kickstart economic growth and make the UK a clean energy superpower.

    Yesterday’s Budget was the biggest real terms settlement for Northern Ireland since devolution. 

    Stability is the foundation for growth, and I am wholly confident that yesterday’s Budget will provide a strong foundation for growth and stability for real change in Northern Ireland.

    This is why we are working closely and collaboratively with the Northern Ireland Executive to unlock greater investment, put more money in people’s pockets and boost opportunities and outcomes for everyone across Northern Ireland.

    Following today’s visit, Co-Founder of SUKI TEA, Oscar Woolley, said:

    SUKI TEA was delighted to welcome Minister Fleur Anderson to our new Eco Factory today, discussing the essential role SMEs play as the backbone of Northern Ireland’s economy, driving growth, innovation, and resilience across the region. 

    We also had the unique opportunity to taste SUKI’s locally grown tea, the first tea cultivated on the island of Ireland.

    Notes to editors: 

    • For further details on the implications of the Chancellor’s Budget on Northern Ireland, see here.
    • To view the open consultation on Invest 2035: the UK’s modern industrial strategy, see here.

    Updates to this page

    Published 31 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Financial news: Ksenia Yudaeva leaves the Bank of Russia on October 31 due to the decision to continue working outside of it (10/31/2024)

    Translation. Region: Russian Federation –

    Source: Central Bank of Russia –

    Ksenia Yudaeva, Advisor to the Chairman of the Bank of Russia, and previously First Deputy Chairman of the Bank of Russia and member of the Board of Directors of the Bank of Russia, has decided to continue her career outside the Bank of Russia.

    The Chairman of the Bank of Russia Elvira Nabiullina noted:

    “Ksenia Yudaeva made an invaluable contribution to the development of the Bank of Russia as a modern institution. It was she who helped implement the inflation targeting mechanism. Together with her, we went through a series of crises. And each time, her knowledge, ability to see the whole picture, and sharpness of reaction helped formulate an accurate response to these challenges. The fact that we managed to maintain financial stability during crises is largely due to her merit.

    We owe it to a professional team of researchers on macroeconomics, finance, banking, and the climate agenda that any central bank would be proud of. All of this will continue to help us move forward.

    We wish Ksenia Valentinovna success in all her endeavors!”

    When using the material, a link to the Press Service of the Bank of Russia is required.

    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.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.kbr.ru/press/PR/?file=638659756497718291ХП.хтм

    MIL OSI Russia News –

  • MIL-OSI Canada: 2023-24 Public Accounts Volume 2 Released

    Source: Government of Canada regional news

    Released on October 31, 2024

    The 2023-24 Public Accounts Volume 2 was released today, containing financial information for the General Revenue Fund.

    Volume 2 of the 2023-24 Public Accounts provides detailed expenses for ministries, the Legislative Assembly and its officers. It also includes a summary of pension plan and trust fund balances, a summary of individual pension plans and trust funds, a Statement of Remission of Taxes and Fees, and the Road-use Fuel Tax Accountability Report. 

    Volume 1, which reports on the Summary Financial Statements, was released on June 27, 2024. 

    Volume 1 and Volume 2 of the 2023-24 Public Accounts are available in the Government of Saskatchewan’s Publications Centre at: https://publications.saskatchewan.ca/#/categories/6118.

    -30-

    For more information, contact:

    MIL OSI Canada News –

  • MIL-OSI: BBAChain Pre-Seed Round Closes as Demand Surges, Seed Round Now Open

    Source: GlobeNewswire (MIL-OSI)

    TALLINN, Estonia, Oct. 31, 2024 (GLOBE NEWSWIRE) —  BBAChain is celebrating important achievements. With the project’s Pre-Seed Round completed and all BSP (BBAChain Revenue Sharing Program) packages sold out, BBAChain is positioning itself for a successful bull run.

    The Pre-Seed Round saw strong support from early backers, contributing to the success of BBAChain’s roadmap and creating a solid foundation for what’s coming. The BSP program, designed to share revenue with early participants, reached full capacity, signaling high investor interest and confidence in BBAChain’s future.

    The recent BBAChain halving event marked an important milestone for the project and a strong advantage against other blockchains, reducing BBA supply and potentially increasing the value of the coin as scarcity grows. The timing of the halving aligns with the first anniversary of BBAChain’s Mainnet, following the roadmap of the project and showing the ongoing commitment of the company to delivering on its promises.

    Now that BBAChain is launching its Seed Round, the project hopes to expand further and create partnerships that will help it achieve more. According to the roadmap, the company plans to list BBA Coin on exchanges before the end of 2024, as well as develop various aspects of the BBAChain ecosystem, such as BTI Exchange and BTI Swap.

    BBAChain’s Seed Round of financing has officially started, welcoming not only VCs, angel investors, accelerators, and incubators, but also retail investors and anyone who wants to be part of the next cryptocurrency generation.

    What is BBAChain?
    BBAChain is a high-performance Layer 1 blockchain aiming to reshape different areas of society. With the ability to process more than 100,000 transactions per second for less than a few cents, BBAChain offers speed and scalability. Beyond technical efficiency, BBAChain is building a native ecosystem that includes a decentralized exchange, centralized exchange, crypto academy, NFT marketplace, euro-pegged stablecoin, pay adapter, and a multi-chain wallet. What truly sets BBAChain apart is its ambition to bring national elections onto the blockchain through its Decentralized Democracy initiative, ensuring transparent and secure voting processes. An initiative that has multiple applications not only in the public sector but also in the private one too. With a powerful referral program incentivizing growth, strategic partnerships, and the upcoming listing of the BBA Coin, BBAChain positions itself as a unique opportunity in the evolving crypto space.

    Contact
    Name: Christian Trejo, CSO
    Email: contact@bbachain.com
    Website: https://bbachain.com

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/217e3ce1-9442-4786-97dc-736bd3fd2743

    The MIL Network –

  • MIL-OSI United Kingdom: UK Export Finance support for export of air defence systems to Poland

    Source: United Kingdom – Executive Government & Departments

    The UK government supports the export of air defence systems and associated goods and services (the ‘NAREW Programme’) by UK defence and Polish companies MBDA UK Limited and Polska Grupa Zbrojeniowa.

    Documents

    Letter from UK Export Finance to Secretary of State for Business & Trade on NAREW air defence programme, 2024

    PDF, 123 KB, 2 pages

    Letter from Secretary of State for Business & Trade to UK Export Finance on NAREW air defence programme, 2024

    PDF, 112 KB, 1 page

    Letter from UK Export Finance to Secretary of State for Business & Trade on NAREW air defence programme, 2024

    HTML

    Letter from Secretary of State for Business & Trade to UK Export Finance on NAREW air defence programme, 2024

    HTML

    Details

    The first letter is from the UK Export Finance (UKEF) Chief Executive and Accounting Officer to the DBT Secretary of State. It requests ministerial direction on UKEF financing support associated with the NAREW air defence programme in Poland, in which MBDA UK Limited is a key supplier. The reasons for the request are set out in this letter.

    The second letter is from the DBT Secretary of State to the UKEF Chief Executive and Accounting Officer. It confirms the ministerial direction on UKEF financing support associated with the NAREW air defence programme in Poland.

    Updates to this page

    Published 31 October 2024

    Sign up for emails or print this page

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Leading expert appointed to turbocharge Euston housebuilding

    Source: United Kingdom – Executive Government & Departments

    Regeneration expert Bek Seeley will chair the government’s Euston Housing Delivery Group.

    • Yesterday’s Budget confirmed Bek Seeley will chair government’s Euston Housing Deliver Group to deliver ambitious Euston regeneration.
    • Work begins immediately to support delivery of thousands of new homes and drive growth at the heart of the capital.
    • Appointment supports government’s plan to deliver biggest increase in social and affordable housing in a generation.

    A leading regeneration expert has been appointed as the Chair of a flagship government programme to drive growth and build thousands of new homes, in the heart of central London.  

    Yesterday’s Budget announced Bek Seeley, who has overseen major projects in London, Birmingham and Manchester, to chair the Euston Housing Delivery Group – which will drive forward an ambitious housing and regeneration initiative for the local area.

    The scheme will also include supporting a thriving life sciences district which will bolster the area’s existing Knowledge Quarter which works on important scientific discoveries and technological advances.  

    The Delivery Group will be made up of industry experts in urban design, landscape architecture, affordable housing delivery and financing large-scale projects. Their core focus is to unlock more investment in Euston and drive economic growth across the capital.   

    Working closely with the local community in Euston, Camden Council, the Mayor of London and ministers, the Group will help the area become one of Europe’s leading hubs for life sciences and innovation and set out wider ambitions to tackle the capital’s housing crisis with a new era of affordable homes.   

    Housing and Planning Minister, Matthew Pennycook said: 

    “The appointment of Bek Seeley as the Chair of the Euston Housing Delivery Group is an important milestone on the journey toward regenerating this historic London neighbourhood and supporting economic growth across the country.

    “The Government will continue to work with the London Borough of Camden, the Mayor of London, and local partners and communities to accelerate the delivery of significant numbers of new homes and an expanded Knowledge Quarter alongside a much-improved Euston Station”.

    The announcement comes as it was also confirmed HS2 trains will run to Euston, with funding provided for tunnelling to the central London terminus, catalysing private investment into the station and local area.

    The Delivery Group’s work begins immediately in Euston. A housing site under-construction in Somers Town was recently visited by the Housing Minister to see first-hand the progress being made to transform the area and deliver a new economic hub where people want to live and work.  
      
    Chair of the Euston Housing Delivery Group, Bek Seeley said:   

    “I’m hugely excited to be asked to chair the EHDG as we set about the task of delivering thousands of new homes to benefit the existing community and to also underpin growth in one of the world’s leading knowledge and life science districts.   

    “My ambition is that Euston provides safe and welcoming homes, ensuring that every resident feels secure and valued and that Euston is also a place that the UK is proud of on the world stage, driving our broader economy forwards.” 

    Leader of Camden Council, Cllr Richard Olszewski said:   

    “This commitment to deliver new and affordable homes in Euston, together with the local community, is a much-needed step forward to get Euston on track towards a better future. 
     
    “Not only have many families in Euston felt the impacts of the housing crisis, but they have lived through years of uncertainty and upheaval. They rightly deserve hope for the future and a Euston that delivers for them with job opportunities, affordable homes, new open spaces, and community facilities.   
     
    “At Euston, we also have a once-in-a-generation opportunity to achieve this alongside a rapid expansion of London’s Knowledge Quarter, transforming it into a tech and science powerhouse that generates investment and opportunity for the entire country. We look forward to working in partnership with the Housing Delivery Group, Government, and our residents to turn this opportunity into a reality.”  

    The government and the Mayor will be working hand-in-hand to ensure that London plays its part to deliver record levels of housebuilding and support ambitions for 1.5 million homes over this Parliament.   

    This includes working together on all possible steps to deliver the homes that London needs – and to meet the updated housing target for the capital that is more than double the delivery of recent years.   

    Deputy Mayor of London for Planning and Regeneration, Jules Pipe said:

    “I am looking forward to working with Bek and the Euston Housing Delivery Group to ensure that we maximise Euston’s contribution to housing alongside delivering a world-class transport hub and supporting the development and growth of the Knowledge Quarter.

    “The Mayor is committed to doing all he can to accelerate the pace of housing delivery in London. The unlocking of major sites such as Euston, which has been on hold for far too long has a vital part to play in delivering the growth we need. Leveraging the link between transport investment and housing, here and in other locations such as Thamesmead, will enable the delivery of new homes and jobs as part of building a fairer, greener and more prosperous London for everyone.”

    Alongside the Delivery Group, the New Homes Accelerator will see work across government and with the Mayor and boroughs to fast-track large sites in London to unlock more homes and offer direct support to speed up delivery.   

    A new housing package was also announced yesterday including £500 million in new funding for the Affordable Homes Programme – the biggest annual budget for affordable housing in over a decade which will support government efforts to deliver thousands of new homes in London and across the country.

    Further information

    In Spring, the previous government and London Borough of Camden announced the establishment of the Euston Housing Delivery Group, tasked with assessing the scale of housing opportunities in the Euston area.   

    Bek Seeley was previously the European Managing Director for Development at Lendlease, which is a multinational construction and real estate company. She also holds several senior advisory roles in regeneration and affordable housing delivery. Bek is responsible for leading major housing projects across London, Manchester and Birmingham.

    Updates to this page

    Published 31 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Radio 2 in the Park Boosts Preston Economy by £5.3 Million

    Source: City of Preston

    In September, Preston’s Moor Park was the vibrant setting for BBC Radio 2 in the Park, as global superstars like the Pet Shop Boys, Sting, and Sugababes drew thousands of music fans from across the country. 

    Over three days, the festival welcomed 68,100 attendees, sparking a major economic boost for the city. This brought over £5 million in visitor spending, creating jobs and supporting local businesses throughout Preston.

    The BBC-hosted event attracted both local residents and visitors from across the UK. Around 13% of attendees were from Preston itself, while the majority were from further afield. It is estimated around 16,000 visitors stayed overnight, and a further 31,000 came for day trips, making Preston a vibrant hub over the course of the weekend.

    Councillor Hindle, Cabinet Member for Culture and Arts at Preston City Council said:

    Radio 2 in the Park has proven to be a tremendous success for the city of Preston. Not only did it attract thousands of visitors to enjoy top-quality entertainment, it also delivered a substantial boost to our local economy.

    “The £5.3 million spent in the city over the weekend is a testament to Preston’s appeal as a destination for major events. We are proud of the way the city welcomed visitors and demonstrated our ability to host events on this scale. The lasting economic impact, including the jobs supported, shows just how valuable these events are for our community. We look forward to building on this momentum for future opportunities.”

    John Chesworth, Chair of Preston Partnership said:

    At Preston Partnership, we are dedicated to driving place direction and sustainable growth in the city. Radio 2 in the Park has been a fantastic opportunity to showcase Preston, bringing significant economic benefits to the area. Events like this not only boost the local economy through increased footfall and tourism but also provide a valuable platform for local businesses to thrive. We are proud to have been part of this venture, which has contributed to Preston’s economic development and future resilience.”

    Helen Thomas, Head of Radio 2 said:

    I’m so pleased the event has had such positive impact for the local economy, businesses and communities. All of us at Radio 2 would like to thank Preston City Council and the people of Preston for the incredibly warm welcome they gave Radio 2 in the Park when the station decamped to the city in September. We were delighted to broadcast live from several local venues during the build-up to the epic weekend in Moor Park and were proud to shine a light on this fantastic city across our shows during the event weekend and beyond.”

    This influx of visitors led to an estimated £2.4 million in Gross Value Added (GVA) for the city of Preston, helping to support an estimated 2,100 jobs in the city during the three-day event. The figures provided exclude expenditure by Preston residents. However, local attendees spent an estimated £434,000 during the event, further adding to the local economy.

    Economic analysis of the event was conducted by Hatch, a global consultancy with expertise in economic development and social impact assessment.

    Tim Fanning, Director at Hatch, stated:

    Events like this bring a range of benefits to their host locations. Our analysis shows that Radio 2 in the Park has provided a large economic boost to the city of Preston – boosting spending by up to 5% over the September weekend. Moreover, it has generated significant profile for the city, which has knock-on benefits for the visitor economy.”

    This year’s Radio 2 in the Park not only provided unforgettable entertainment for thousands but also left a lasting positive impact on the city of Preston, highlighting its potential as a host city for future large-scale events. Radio 2 in the Park has shone a spotlight on Preston and provided national media coverage from March this year helping to put Preston on the map.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Warm welcome for energy efficiency improvements to back-to-back homes

    Source: City of Leeds

    Dozens of back-to-back terraced homes are set to receive energy efficiency upgrades as Leeds City Council continues its efforts to deliver the best possible housing standards for all local communities.

    The improvements will be made to as many as 100 back-to-backs in the Cedars area of Armley during a £4.4m scheme that is due to get under way in January.

    Planned measures include new insulation for external walls and attic rooms as well as the installation of replacement doors and windows where required.

    The work is designed to make the homes easier and more affordable to heat, which should in turn lead to a reduction in fuel poverty and cold-related illness. A detailed technical study will also be carried out to assess the suitability of the area for the possible future use of carbon-cutting ground source heat pumps.

    The scheme is being part-funded by the council, with the West Yorkshire Combined Authority, central government and energy suppliers among those providing additional support. Energy and regeneration specialist Equans will act as delivery partner.

    The Cedars was chosen as the location for the work due to its comparatively high levels of deprivation, with an above-average proportion of residents living in fuel poverty. Many of the back-to-back houses in the area are more than 100 years old.

    Under current plans, just over half of the homes to be improved will be from the council’s housing stock. The remainder will be privately owned, with up to 25 per cent of the cost of changes to these properties being met by landlords or owner-occupiers.

    The inclusion of a range of tenures will, it is hoped, allow the scheme to have a positive visual impact on whole streets and ‘clusters’ of housing rather than dispersed individual homes.

    Scheduled for completion by the end of 2025, the programme follows similar improvements to around 300 properties in Holbeck.

    Hundreds of flats in tower blocks in Little London and Seacroft have also recently benefited from energy efficiency upgrades.

    These projects, and others like them, underline the council’s commitment to addressing social and health inequalities and the part they play in causing illness and lower life expectancy.

    They also show how the council is working with partners to tackle climate change as it seeks to make Leeds the first net zero city in the UK.

    Councillor Jess Lennox, Leeds City Council’s executive member for housing, said:

    “As a council, we are determined to ensure that everyone in Leeds has a home that gives them the right foundation for leading a happy and healthy life.

    “Schemes like the one which will soon be starting in the Cedars can move us another step towards achieving that hugely important goal.

    “The work will make homes easier and cheaper to heat, a vital consideration at a time when many households are experiencing fuel poverty.

    “There will also be environmental benefits, with improved energy efficiency for properties meaning a reduction in carbon emissions.

    “We’re grateful to our partners for supporting a scheme that will have a really positive impact on this community.”

    Tracy Brabin, Mayor of West Yorkshire, said:

    “Our region is home to some of the oldest houses in the country, including our famous back-to-back terraces in Leeds.

    “In this cost of living crisis, it’s vital that we invest now to upgrade these homes for the long term, saving some households hundreds of pounds a year off their energy bills.

    “By working with Leeds City Council and providing free support through our Home Energy West Yorkshire initiative, we’ll build a greener, more secure region with warmer homes and brighter communities for all.”

    The provision of good quality housing is a key objective of Leeds’s ongoing Marmot programme, which aims to reduce health inequalities using an approach developed by leading epidemiologist Professor Sir Michael Marmot.

    Launched in June last year, the programme is being spearheaded by the council alongside University College London’s Institute of Health Equity.

    ENDS

    MIL OSI United Kingdom –

  • MIL-Evening Report: Peter Dutton’s reshuffle: David Coleman the surprise choice as shadow foreign minister

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Peter Dutton has chosen a dark horse in naming David Coleman for the key shadow foreign affairs portfolio, in a reshuffle that also seeks to boost the opposition’s credentials with women.

    Coleman has been communications spokesman. He led the opposition’s campaign for an age limit on young people’s access to social media – a policy that was later adopted by the government and now has been legislated by the parliament.

    He is one of the opposition’s small band of moderates although not seen as a factional player.

    Coleman, who holds the Sydney marginal seat of Banks, has done extensive work with Middle East communities and the Chinese community. He is a former minister for immigration, citizenship, migrant services and multicultural affairs.

    The foreign affairs job, previously held by Simon Birmingham, who is departing parliament, was keenly sought by a number of frontbenchers. One of the aspirants was deputy Liberal leader Sussan Ley, whose position entitles her to choose her portfolio, at least in theory.

    Dutton has also brought Julian Leeser back onto the frontbench, as shadow assistant minister for foreign affairs. Leeser quit the shadow ministry to fight for the yes case in the 2023 Voice referendum.

    While his return will be welcomed by many on merit grounds, it also reflects the high profile that Leeser, who is Jewish, has taken in demanding more action against the wave of antiseminism in Australia. Announcing his reshuffle on Saturday, Dutton described Leeser as “a powerhouse of support for Australia’s Jewish community”.

    The new shadow cabinet has 11 women, the same number as in the Albanese cabinet.

    Melissa McIntosh, from NSW, has been promoted to the shadow cabinet and takes Coleman’s previous job of communications. She stays shadow minister for Western Sydney.

    Claire Chandler, from Tasmania and the right, is promoted to shadow cabinet as shadow minister for government services and the digital economy and shadow minister science and the arts. Chandler was in the headlines before the last election for her campaigning against trans women’s access to female sports.

    The high profile Jacinta Price receives a promotion. In shades of Elon Musk’s role in the United States, in addition to her current responsibility as shadow minister for Indigenous Australians, she has been given a new role as shadow minister for government efficiency.

    Tony Pasin, from South Australia and the right faction, joins the shadow ministry as spokesman on roads and road safety. The government is emphasising its roads program in its campaigning, this month announcing $7.2 billion to upgrade the Bruce Highway.

    Matt O’Sullivan, a senator from Western Australia, joins the outer shadow ministry as shadow assistant minister for education.

    Ted O’Brien adds energy affordability and reliability to his key role as the opposition’s energy spokesman, in which he is prosecuting the nuclear debate. It has been speculated that the government is likely to do more to give people relief on their power bills.

    Kerrynne Liddle adds Indigenous health services to her responsibilities as shadow minister for child protection and the prevention of family violence.

    Victorian senator James Paterson, who as home affairs spokesman has been regarded as one of the opposition’s best performers, joins the Coalition leadership group.

    Michael Sukkar becomes manager of opposition business in the House of Representatives, the position that has been held by Paul Fletcher, who is retiring at the election.

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

    – ref. Peter Dutton’s reshuffle: David Coleman the surprise choice as shadow foreign minister – https://theconversation.com/peter-duttons-reshuffle-david-coleman-the-surprise-choice-as-shadow-foreign-minister-248303

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: International Petroleum Corporation Announces Results of Normal Course Issuer Bid and Updated Share Capital

    Source: GlobeNewswire (MIL-OSI)

    International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 66,800 IPC common shares (ISIN: CA46016U1084) during the period of October 28 to 31, 2024 under IPC’s normal course issuer bid / share repurchase program (NCIB).

    IPC’s NCIB, announced on December 1, 2023, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbour Regulation) and the applicable rules and policies of the Toronto Stock Exchange (TSX) and Nasdaq Stockholm and applicable Canadian and Swedish securities laws.

    During the period of October 28 to 31, 2024, IPC repurchased a total of 52,500 IPC common shares on Nasdaq Stockholm. All of these share repurchases were carried out by Pareto Securities AB on behalf of IPC.

    For more information regarding transactions under the NCIB in Sweden, including aggregated volume, weighted average price per share and total transaction value for each trading day during the period of October 28 to 31, 2024, see the following link to Nasdaq Stockholm’s website:

    www.nasdaqomx.com/transactions/markets/nordic/corporate-actions/stockholm/repurchases-of-own-shares

    A detailed breakdown of the transactions conducted on Nasdaq Stockholm during the period of October 28 to 31, 2024 according to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is available with this press release on IPC’s website: www.international-petroleum.com/news-and-media/press-releases.

    During the same period, IPC purchased a total of 14,300 IPC common shares on the TSX. All of these share repurchases were carried out by ATB Capital Markets Inc. on behalf of IPC.

    All common shares repurchased by IPC under the NCIB will be cancelled. During October 2024, IPC cancelled 506,400 common shares repurchased under the NCIB. As at October 31, 2024, the total number of issued and outstanding IPC common shares is 120,244,638 with voting rights and IPC holds 44,400 common shares in treasury.

    Since December 5, 2023 up to and including October 31, 2024, a total of 8,024,582 IPC common shares have been repurchased under the NCIB through the facilities of the TSX and Nasdaq Stockholm. A maximum of 8,342,119 IPC common shares may be repurchased over the period of twelve months commencing December 5, 2023 and ending December 4, 2024, or until such earlier date as the NCIB is completed or terminated by IPC.

    International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and France, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the symbol “IPCO”.

    For further information, please contact:

    Rebecca Gordon
    SVP Corporate Planning and Investor Relations
    rebecca.gordon@international-petroleum.com
    Tel: +41 22 595 10 50    		   Robert Eriksson
    Media Manager
    reriksson@rive6.ch
    Tel: +46 701 11 26 15

    This information is information that International Petroleum Corporation is required to make public pursuant to the Swedish Financial Instruments Trading Act. The information
    was submitted for publication, through the contact persons set out above, at 17:30 CET on October 31, 2024.

    Forward-Looking Statements
    This press release contains statements and information which constitute “forward-looking statements” or “forward-looking information” (within the meaning of applicable securities legislation). Such statements and information (together, “forward-looking statements”) relate to future events, including the Corporation’s future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “forecast”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe”, “budget” and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements with respect to: the ability and willingness of IPC to continue the NCIB, including the number of common shares to be acquired and cancelled and the timing of such purchases and cancellations; and the return of value to IPC’s shareholders as a result of any common share repurchases.

    The forward-looking statements are based on certain key expectations and assumptions made by IPC, including expectations and assumptions concerning: prevailing commodity prices and currency exchange rates; applicable royalty rates and tax laws; interest rates; future well production rates and reserve and contingent resource volumes; operating costs; our ability to maintain our existing credit ratings; our ability to achieve our performance targets; the timing of receipt of regulatory approvals; the performance of existing wells; the success obtained in drilling new wells; anticipated timing and results of capital expenditures; the sufficiency of budgeted capital expenditures in carrying out planned activities; the timing, location and extent of future drilling operations; the successful completion of acquisitions and dispositions and that we will be able to implement our standards, controls, procedures and policies in respect of any acquisitions and realize the expected synergies on the anticipated timeline or at all; the benefits of acquisitions; the state of the economy and the exploration and production business in the jurisdictions in which IPC operates and globally; the availability and cost of financing, labour and services; our intention to complete share repurchases under our normal course issuer bid program, including the funding of such share repurchases, existing and future market conditions, including with respect to the price of our common shares, and compliance with respect to applicable limitations under securities laws and regulations and stock exchange policies; and the ability to market crude oil, natural gas and natural gas liquids successfully.

    Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because IPC can give no assurances that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to: general global economic, market and business conditions; the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, costs and expenses; health, safety and environmental risks; commodity price fluctuations; interest rate and exchange rate fluctuations; marketing and transportation; loss of markets; environmental and climate-related risks; competition; innovation and cybersecurity risks related to our systems, including our costs of addressing or mitigating such risks; the ability to attract, engage and retain skilled employees; incorrect assessment of the value of acquisitions; failure to complete or realize the anticipated benefits of acquisitions or dispositions; the ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals; geopolitical conflicts, including the war between Ukraine and Russia and the conflict in the Middle East, and their potential impact on, among other things, global market conditions; and changes in legislation, including but not limited to tax laws, royalties and environmental regulations. Readers are cautioned that the foregoing list of factors is not exhaustive.

    Additional information on these and other factors that could affect IPC, or its operations or financial results, are included in IPC’s annual information form for the year ended December 31, 2023 (See “Cautionary Statement Regarding Forward-Looking Information”, “Risks Factors” and “Reserves and Resources Advisory” therein), in the management’s discussion and analysis (MD&A) for the three and six months ended June 30, 2024 (See “Cautionary Statement Regarding Forward-Looking Information”, “Risks Factors” and “Reserves and Resources Advisory” therein) and other reports on file with applicable securities regulatory authorities, including previous financial reports, management’s discussion and analysis and material change reports, which may be accessed through the SEDAR+ website (www.sedarplus.ca) or IPC’s website (www.international-petroleum.com).

    Attachment

    The MIL Network –

  • MIL-OSI: Monster League Studios Announces Upcoming $MOKA Token Sale for Mokens League Platform, Powering the Next-Gen Web3 Gaming Ecosystem

    Source: GlobeNewswire (MIL-OSI)

    BARCELONA, Spain, Oct. 31, 2024 (GLOBE NEWSWIRE) — Monster League Studios, the visionary company behind the Mokens League gaming platform, is thrilled to announce the upcoming public sale of its highly anticipated utility token, $MOKA. Designed to fuel an ecosystem of interconnected games and experiences, $MOKA will serve as the backbone for in-game transactions, rewards, and player engagement across the Mokens League universe.

    Scheduled to go live on [31.10.2024], the $MOKA token sale represents a key milestone in Monster League Studios’ mission to redefine gaming through blockchain technology. With Mokens League, the company is creating a universe of games where players can seamlessly interact and carry their assets across different game experiences. Beginning with its flagship soccer game, the platform will soon expand to titles such as Padel, Tennis, Racing, and more, broadening the reach and utility of $MOKA.

    Mokens League Soccer is the first game that allows players to compete in team-based or individual matches. It features multiple gameplay modes, with match length and rules varying by mode. Players need 1–6 NFTs to participate, which act as in-game characters. The game has already reached over 50,000 active users. Mokens League Soccer is available on PC, App Store, and Google Play.

    “At Mokens League, we believe in building more than just individual games—we’re creating a full gaming universe,” said Martin Repetto, CEO of Monster League Studios. “The launch of $MOKA will empower our players and community by giving them real value and utility across all our games, allowing them to participate in our Win-to-Earn model, earn exclusive rewards, and explore a connected universe of Web3 gaming experiences.”

    Key Highlights of the $MOKA Token Sale:

    • Utility-Driven Token: $MOKA is designed to be more than just a currency. As a utility token, it will support in-game purchases, facilitate player rewards, and unlock exclusive features across all Mokens League games.
    • Two NFT Tiers: FAN and VIP Packs: Recently, Mokens League announced two NFT tiers—FAN and VIP packs—as essential components of its promotional series, aimed at unlocking exclusive features and rewards within the Mokens Hub. These packs drive engagement by providing early access to various platform functionalities. The initial launch of FAN packs was met with great success, as NFTs were claimed in record time, underscoring high demand and the platform’s effectiveness in expanding the user base and creating a vibrant gaming community.
    • Cross-Game Compatibility: Players can use $MOKA across the entire Mokens League ecosystem, allowing their assets, achievements, and rewards to transcend individual games, from sports-based titles like soccer and padel to exciting genres like racing and brawling.
    • User-Friendly Web3 Integration: Mokens League has partnered with ImmutableX (IMX) to ensure seamless onboarding for Web2 users unfamiliar with crypto. Players can create a secure Web3 wallet effortlessly using just their email, Apple ID, or Google Play account.
    • Accessible to All: The $MOKA token sale will be conducted in stages, with the first phase launching as a community sale. This will be followed by public sales on leading launchpads, including Bit2Me, Kanga, and Gamestarter, ensuring broad accessibility to both seasoned crypto investors and gaming enthusiasts new to Web3.

    The tokenomics of the $MOKA token are carefully designed. 10% of the total supply is allocated for the community sale, 1% for the public sale, and 17% for the team. A substantial 42% is dedicated to the community, ecosystem, and rewards. This tokenomics structure is community-centered, prioritizing user needs to drive high engagement and reward active participation in Mokens League.

    The $MOKA token sale provides a unique opportunity for investors to join a pioneering project in the rapidly expanding blockchain gaming space. Mokens League’s commitment to innovation, combined with its seasoned team of game developers with over 25 years of experience, positions it as a formidable player in the Web3 gaming industry.

    Contact:
    Martin Repetto CEO
    Email: hello@mokensleague.com

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/376d9a5a-bebd-4af6-879e-2793bd3e7f89

    The MIL Network –

  • MIL-OSI USA: CFTC Warns of Potential Dangers for Messaging App Users

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — The Commodity Futures Trading Commission’s Office of Customer Education and Outreach today released a customer advisory alerting messaging app users to beware of schemes to defraud them of assets, specifically crypto assets.

    Fraudsters are exploiting the default settings of commonly used messaging apps, telephone networks, and mobile devices to lure users into crypto pump-and-dump schemes and other scams.

    The customer advisory, Use Caution Responding to Messaging Apps, informs users of the default settings of WhatsApp, Telegram, and other popular messaging apps that allow scammers to add random or targeted phone numbers to group chats that are used for fraudulent activity. Similarly, default SMS text settings on smart phones allow for a greater number of spam texts that can result in fraud.

    “People who use these apps may not be familiar with the risks and frauds commonly associated with crypto assets,” said Melanie Devoe, director of the CFTC’s Office of Customer Education and Outreach. “Receiving a group message promising 300% or 1,000% returns with zero risk or getting in on a supposed crypto opportunity, can be enticing, but it is best to not engage.”

    The customer advisory, provides easy actions app users should take if they receive a message from an unfamiliar person or number saying “you’ve been added to a messaging app’s group chat”:

    • Do not reply.
    • Delete the messages or group discussions, block the senders and send text messages to junk or forward it to 7726 (SPAM).
    • Change your privacy settings to protect your information and reduce future spam.
    • Most apps, mobile carriers and devices provide ways to restrict who may contact you or block specific numbers. Check each messaging apps’ settings. Next, check your carrier’s account app settings, and your device settings. Many major carriers also offer free SMS spam-blocking or call filtering apps that can be added to your phone.

    About the Office of Customer Education and Outreach

    OCEO is dedicated to helping customers protect themselves from fraud or violations of the Commodity Exchange Act through the research and development of effective financial education materials and initiatives. OCEO engages in outreach and education to retail investors. The office also frequently partners with federal and state regulators as well as consumer protection groups. The CFTC’s full repository of customer education materials can be found at: cftc.gov/LearnAndProtect.

    Customer Advisory: Use Caution Responding to Messaging Apps is available in full below and HERE

    ###

    Customer Advisory: Use Caution Responding to Messaging Apps

    Fraudsters are contacting potential victims on their phones to try to lure them into cryptocurrency scams with promises of guaranteed returns. Spot the fraud by remembering all trades involve a risk of loss. Be suspicious of any messages you receive via WhatsApp, Telegram, SnapChat, WeChat, SMS texts, or other apps that promise guaranteed oversized returns. If you receive a suspicious message:

    • Do not reply.
    • Delete the messages or group discussions and block the senders. Send text messages to junk.
    • Review your privacy settings to protect your information and reduce future spam.

    Deception in the Palm of Your Hand

    By default, messaging apps allow anyone with your phone number to call or add you to a discussion group. Scammers use this vulnerability to add random or targeted phone numbers to WhatsApp groups or Telegram chats. You might see a message that you’ve been added to a group, then other messages follow. They might talk about trading crypto futures with leverage, “cooperative trading projects” (also called pump-and-dump schemes), 100, 500, 1,000 percent profits, advanced artificial intelligence, can’t-miss investment programs, or other supposed opportunities. You might also see testimonials from other group members. It’s all fake, lies designed to steal your money.

    Don’t Talk to Strangers

    Stranger danger applies to your mobile device too. Responding or complaining confirms to scammers that your number is active and will only lead to more fraud attempts. The same is true for answering unknown callers. Scammers sometimes use robocalls to identify working numbers.

    Caller ID can be easily faked. If you don’t recognize the phone number, or message sender, do not respond. If you receive an urgent message about a financial account, or from law enforcement, the CFTC, or other government agencies, visit the entity’s official website and confirm the message with customer service staff. Do not use phone numbers or links provided in the message.

    You should only trade futures with regulated individuals and firms that follow strict qualification, supervision, and customer protection requirements. Learn more about registration at cftc.gov/check. Taking financial advice from unregistered, random people online or trading with unregistered companies that don’t have a physical presence in the United States substantially increase your fraud risk.

    Tighten your Security

    Most apps let you adjust your privacy settings to only allow your contacts or specific numbers to message you or see your personal information, including your picture, location, and activity status. Check and adjust your settings in each app you use. Delete unwanted groups, block the admins, and report the groups and admins to the platform.

    For SMS and phone messages, check your carrier’s apps and account settings. Most major carriers offer free SMS spam and call blockers. Next, adjust phone and message settings on your device, including blocking unwanted callers or silencing spam calls. Activate options to filter unknown senders and junk. If you have the option to “delete and report junk,” use it. If not, forward unwanted messages to 7726 (SPAM). Both options help filter and block bad actors systemwide.

    MIL OSI USA News –

  • MIL-OSI: US employers prioritize wellbeing but miss the mark with employees

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) — While employers are taking steps to support employees’ physical and mental wellbeing, there is a disparity between the focus of employer wellbeing programs and what employees need the most. This is according to the latest Wellbeing Diagnostic Survey by WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company.

    The survey found U.S. employers are prioritizing support for mental (73%) and physical (50%) wellbeing. Yet, employees say that financial wellbeing support is their top area of concern (66%), despite being the lowest priority for employers (23%).

    Almost half of U.S. employees (48%) are struggling with moderate or major issues in at least two areas of their wellbeing, according to WTW’s 2024 Global Benefits Attitudes Survey (GBAS). Employees with wellbeing issues show lower productivity (higher absence and presenteeism) and report higher rates of burnout and lower levels of engagement. Over half of employees (56%) have above-average levels of stress, while 37% have reported symptoms of anxiety or depression.

    “The mental health crisis has brought employee wellbeing to the forefront of employers’ minds in recent years,” said Regina Ihrke, Health, Equity and Wellbeing leader, North America, WTW. “Companies have been leaning heavily into physical and mental wellbeing to make it a core part of their human capital strategy. We know that these investments have improved employees’ perceptions of the growing initiatives.”

    “Organizations that are highly effective at employee wellbeing often report better business outcomes, such as enhanced financial performance and reduced employee turnover. However, there is a disconnect between the wellbeing areas that employers are investing in and what employees are saying they need help with,” said Ihrke.

    Indeed, employers are showing to be least effective in the areas where employees need the most help, identifying financial wellbeing initiatives at the very bottom (19%). Only two in five employees (41%), however, feel financially secure and identify that their financial situation is the area of their wellbeing where they face the biggest challenges, according to GBAS.

    Employees report mixed feelings about employer initiatives with a net promoter score (a measure of customer loyalty and satisfaction with a company) of –20; however, employers have made significant progress since 2019 when the net promoter score was –45. Companies are committed to seeking additional improvement over the next three years, with 46% striving to embed wellbeing programs and practices into their company culture and effectively communicating its value to employees throughout the year, compared with 33% today.

    Moreover, more than four in five (91%) are prioritizing the employee experience as an outcome of their wellbeing strategy, and 37% are looking to make wellbeing a foundational element of their human capital strategy in the next three years, compared with only 11% today. Specifically, many employers (71%) are planning to boost communication about their wellbeing programs and connect wellbeing to company culture (49%) to raise the bar on employee health and wellbeing.

    “The delivery of wellbeing initiatives is just as important as the content of the programs. Communication, accessibility and creating a connected culture that links back to company and employee values is key to building a stronger employee experience when it comes to wellbeing. It’s important that employers focus on getting the right priorities in place to support the varied needs of their workforce as well as creating an enabling environment that promotes the services they make available,” said Jill Havely, managing director, Employee Experience, WTW.

    About the study

    The 2024 Wellbeing Diagnostic Survey was conducted from March to April 2024. Respondents include 535 U.S. employees working at medium and large private sector employers, representing a broad range of industries.

    The 2024 Global Benefits Attitudes Survey was conducted from January to March 2024. Respondents include 10,000 U.S. employees working at medium and large private sector employers, representing a broad range of industries.

    About WTW

    At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

    Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.

    Media contacts:

    Stacy Bronstein
    stacy.bronstein@wtwco.com

    Ileana Feoli
    ileana.feoli@wtwco.com

    The MIL Network –

  • MIL-OSI: Q3 & 9 MONTHS 2024 RESULTS

    Source: GlobeNewswire (MIL-OSI)

    Paris (France), October 31st, 2024, 17h45 CET

    Q3 & 9 MONTHS 2024 RESULTS

    DELIVERING ON CASH GENERATION AND FINANCIAL ROADMAP

    ON TRACK TO HIT OUR FULL YEAR TARGET

      Q3 9M1
    Revenue2 $246m $778m (-3%)
    Adjusted EBITDA2 $98m $298m (+7%)
    Net Cash-Flow $10m $34m (vs -$15m in 9M 2023)

    Sophie Zurquiyah, Chief Executive Officer of Viridien, said:

    “Our results since the start of the year demonstrate the strength of our strategic vision, with technology leadership, new business growth, and cash flow all showing significant progress.

    Geoscience was particularly strong this quarter, leveraging its clear differentiation, best-in class imaging technology and HPC computing power to achieve a record high order book. In Earth Data, the Laconia project, using our most advanced technology, saw increased prefunding and is continuing to progress well.

    Sensing & Monitoring is actively implementing its adaption plan and is on track to achieve in 2025 the expected outcomes in cost reduction and operational flexibility to improve performance across the industry cycles.

    Lastly, we continue to address our financial roadmap with the implementation of the bond buyback program and looking forward, reaffirm our full-year targets”.

    Third Quarter Highlights2

    • Group2
      • IFRS Revenue, EBITDA and Net Income of respectively $219 million, $71 million, $(10) million.
      • Overall group revenue decline in absence of mega crew in Sensing & Monitoring (SMO, revenue down 50%) compared to Q3 2023. Stable DDE revenue, with very strong momentum at Geoscience (revenue + 32% and order intake +91%).
      • Group adjusted EBITDA of $98M, including -$12M penalty fees from vessel commitment. DDE Adjusted EBITDA of $108 million, up 5% thanks to strong Geoscience performance. SMO adjusted EBITDA of $1M (vs $12M).  
    • Net Cash flow of $10 million, including -$18 million contractual fees from vessel commitment.
    • Implementation of the bond buy back program. $25M already bought on the $30M 2024 program as of October 31 (o.w. $12M bought and cancelled as of September 30).
    • Liquidity at $442 million (including $100 million undrawn RCF).
    • Digital, Data and Energy Transition (DDE)
      • Revenue $187 million, up 1%: strong revenue growth at Geoscience offset by lower level of aftersale at Earth Data.
      • Adjusted EBITDA $108 million, up 5%: profitability impacted by -$12 million in penalty fees from vessel commitments (vs -$20 million during Q3 2003).
      • Geoscience
        • Revenue at $103 million (+32%).
        • Geoscience performance continues to be driven by technology leadership. Order intake (up 91%) benefits from best in class imaging technology, new UK HPC hub and increased activity in the Middle East.
        • The new businesses confirm positive momentum, both in CCUS with the release of the latest phase of Gulf of Mexico Carbon Storage Study to support upcoming lease rounds and in Minerals & Mining with the award of a sensing program in Oman, to identify, map and rank mineralization prospectivity potential.
      • Earth Data
        • Revenue: $83 million (-22%).
        • Prefunding revenue at $58 million (+4%). First contribution of the Laconia project in the Gulf of Mexico. Weaker after-sales in Q3 (down 50% at $26 million) with unfavorable cut offs.
        • New businesses: revenue from the Norwegian survey for Carbon storage leading to the reprocessing of legacy data in the area.
    • Sensing and Monitoring (SMO)
      • Revenue at $59 million, down 51% across land and marine products, following delivery of the “mega crew” systems in 2023.
      • Adjusted EBITDA at $1 million (vs $12M).
      • Transformation plan on track to achieve the expected cost reduction and operational flexibility.
      • New businesses representing 17% of revenue. Delivery of land seismic nodes for large-scale seismic surveys planned in urban areas to target energy resources, including geothermal.
    • 2024 Financial objectives
      • The Group reiterates its 2024 financial objectives and confirms its 2024-2025 financial roadmap.
        • Revenue expected to be in line with 2023
        • EBITDA to be positively impacted by business mix
        • Earth Data cash Capex expected at $230-250M
        • Net Cash Flow to reach similar level as 2023
    • Q3 2024 Conference call
      • The press release and the presentation are available on our website www.viridiengroup.com at 5:45 pm (CET)
      • An English language analysts conference call is scheduled today at 6.00 pm (CET)

    Participants should register for the call here to receive a dial-in number and code or participate in the live webcast from here.

    A replay of the conference call will be made available the day after for a period of 12 months in audio format on the Company’s website.

    The Board of Directors met on October 31, 2024 and approved the consolidated financial statements ending September 30, 2024.

    About Viridien:

    Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,500 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN until July 30: FR0013181864 and ISIN as from July 31: FR001400PVN6).

    Contact:

     VP Corporate Finance

    Jean-Baptiste Roussille
    jean-baptiste.roussille@viridiengroup.com

    Q3 2024 – Financial Results

     CONSOLIDATED FINANCIAL STATEMENTS – September 30th, 2024

    Unaudited Interim Consolidated statement of operations – Year-To-Date

        Nine months ended September 30,
    (In millions of US$, except per share data) Notes 2024 2023
    Operating revenues   784.8 810.4
    Other income from ordinary activities   0.1 0.2
    Total income from ordinary activities   784.9 810.6
    Cost of operations   (587.1) (578.0)
    Gross profit   197.8 232.6
    Research and development expenses – net   (15.2) (20.5)
    Marketing and selling expenses   (28.6) (26.6)
    General and administrative expenses   (55.9) (54.2)
    Other revenues (expenses) – net 8 (3.6) (0.9)
    Operating income (loss)   94.6 130.4
    Cost of financial debt – gross   (82.3) (79.5)
    Income provided by cash and cash equivalents   8.7 4.0
    Cost of financial debt, net   (73.6) (75.5)
    Other financial income (loss) 9 (0.9) (1.6)
    Income (loss) before incomes taxes and share of income (loss) from companies accounted for under the equity method   20.1 53.3
    Income taxes   (14.2) (24.6)
    Net income (loss) before share of income (loss) from companies accounted for under the equity method   6.0 28.7
    Net income (loss) from companies accounted for under the equity method   0.9 0.5
    Net income (loss) from continuing operations   6.9 29.2
    Net income (loss) from discontinued operations 3 14.7 2.3
    Consolidated net income (loss)   21.6 31.5
    Attributable to :      
    Owners of Viridien S.A $ 21.2 28.0
    Non-controlling interests $ 0.4 3.5
    Net income (loss) per share      
    Basic $ 2.97 0.04
    Diluted $ 2.95 0.04
    Net income (loss) from continuing operations per share      
    Basic $ 0.91 0.04
    Diluted $ 0.91 0.04
    Net income (loss) from discontinued operations per share (a)      
    Basic $ 2.06 –
    Diluted $ 2.05 –

    (a)   Earning per share is presented as nil being less than US$0.01 at September 30,2023.

    See the notes to the Unaudited Interim Consolidated Financial Statements

    Unaudited Interim Consolidated statement of comprehensive income (loss) – Year-To-Date

        Nine months ended September 30,
    (In millions of US$) Notes 2024 (a) 2023 (a)
    Net income (loss) from statements of operations   21.6 31.5
    Net gain (loss) on cash flow hedges   0.2 0.2
    Variation in translation adjustments   3.3 10.5
    Net other comprehensive income (loss) to be reclassified in profit (loss) in subsequent period (1)   3.5 10.7
    Net gain (loss) on actuarial changes on pension plan   0.4 (0.7)
    Net other comprehensive income (loss) not to be reclassified in profit (loss) in subsequent period (2)   0.4 (0.7)
    Total other comprehensive income (loss) for the period. net of taxes (1) + (2)   3.9 10.0
    Total comprehensive income (loss) for the period   25.5 41.5
    Attributable to:   –  
    Owners of Viridien S.A.   24.7 39.2
    Non-controlling interests   0.8 2.3

    (a)  Including other comprehensive income related to the discontinued operations.

    Unaudited Interim Consolidated statement of financial position

    (In millions of US$) Notes September 30,
    2023    		 December 31, 2023
    ASSETS      
    Cash and cash equivalents   341.7 327.0
    Trade accounts and notes receivable, net   287.3 310.9
    Inventories and work-in-progress, net   207.1 212.9
    Income tax assets   37.0 30.8
    Other current assets, net   67.4 92.1
    Total current assets   940.5 973.7
    Deferred tax assets   35.5 29.9
    Other non-current assets, net   7.8 6.8
    Investments and other financial assets, net   25.3 22.7
    Investments in companies under the equity method   2.6 2.2
    Property, plant and equipment, net 4 230.7 206.1
    Intangible assets, net   611.5 579.7
    Goodwill, net   1 098.1 1 095.5
    Total non-current assets   2 011.4 1 942.9
    TOTAL ASSETS   2 951.9 2 916.6
    LIABILITIES AND EQUITY      
    Financial debt – current portion 5 79.8 58.0
    Trade accounts and notes payables   94.1 86.4
    Accrued payroll costs   87.9 89.1
    Income taxes payable   21.2 12.5
    Advance billings to customers   19.1 24.0
    Provisions — current portion   8.1 8.7
    Other current financial liabilities   5.9 21.3
    Other current liabilities   233.6 250.3
    Total current liabilities   549.8 550.3
    Deferred tax liabilities   22.1 24.3
    Provisions — non-current portion   32.8 30.1
    Financial debt – non-current portion 5 1 265.1 1 242.8
    Other non-current financial liabilities   – 0.5
    Other non-current liabilities   1.7 4.3
    Total non-current liabilities   1 321.7 1 302.0
    Common stock: 11,212,215 shares authorized and 7,161,465 shares with a €1.00 nominal value outstanding at September 30, 2024   8.7 8.7
    Additional paid-in capital   118.7 118.7
    Retained earnings   1 004.0 980.4
    Other Reserves   19.8 27.3
    Treasury shares   (20.1) (20.1)
    Cumulative income and expense recognized directly in equity   (1.2) (1.4)
    Cumulative translation adjustment   (87.9) (90.8)
    Equity attributable to owners of Viridien S.A.   1 042.0 1 022.8
    Non-controlling interests   38.5 41.5
    Total equity   1 080.5 1 064.3
    TOTAL LIABILITIES AND EQUITY   2 951.9 2 916.6

    See the notes to the Unaudited Interim Consolidated Financial Statements

    Unaudited Interim Consolidated statement of cash flows

        Nine months ended September 30,
    (In millions of US$) Notes 2024 2023
    OPERATING ACTIVITIES      
    Consolidated net income (loss)   21.6 31.5
    Less: Net income (loss) from discontinued operations 3 (14.7) (2.3)
    Net income (loss) from continuing operations   6.9 29.2
    Depreciation, amortization and impairment   71.8 63.3
    Earth Data surveys impairment and amortization   144.0 99.8
    Depreciation and amortization capitalized in Earth Data surveys   (11.6) (11.8)
    Variance on provisions   0.2 0.5
    Share-based compensation expenses   2.2 1.7
    Net (gain) loss on disposal of fixed and financial assets   0.1 0.1
    Share of (income) loss in companies recognized under equity method   (0.9) (0.5)
    Other non-cash items   (2.5) 1.8
    Net cash-flow including net cost of financial debt and income tax   210.2 184.1
    Less : Cost of financial debt   73.6 75.5
    Less : Income tax expense (gain)   14.2 24.6
    Net cash-flow excluding net cost of financial debt and income tax   297.9 284.2
    Income tax paid   (10.0) (3.8)
    Net cash-flow before changes in working capital   287.9 280.4
    Changes in working capital   10.0 (23.5)
    – change in trade accounts and notes receivable   (2.3) (29.4)
    – change in inventories and work-in-progress   7.0 17.4
    – change in other current assets   14.9 6.6
    – change in trade accounts and notes payable   10.6 (0.4)
    – change in other current liabilities   (20.2) (17.7)
    Net cash-flow from operating activities   297.8 256.9
    INVESTING ACTIVITIES      
    Total capital expenditures (tangible and intangible assets) net of variation of fixed assets suppliers, excluding Earth Data surveys) 4 (24.3) (48.3)
    Investment in Earth Data surveys   (180.1) (141.7)
    Proceeds from disposals of tangible and intangible assets   1.1 –
    Dividends received from investments in companies under the equity method   0.5 –
    Total net proceeds from financial assets   – (1.9)
    Variation in other non-current financial assets   (2.1) (2.9)
    Net cash-flow used in investing activities   (205.0) (194.8)
        Nine months ended September 30
    (In millions of US$) Notes 2024 2023
    FINANCING ACTIVITIES      
    Repayment of long-term debt 5 (12.2) (1.5)
    Total issuance of long-term debt 5 0.1 23.0
    Lease repayments 5 (43.4) (37.9)
    Financial expenses paid 5 (42.2) (46.5)
    Dividends paid and share capital reimbursements:   –  
    — to owners of Viridien   0.0 –
    — to non-controlling interests of integrated companies   (3.8) (0.8)
    Net cash-flow provided by (used in) financing activities   (101.6) (63.7)
    Effects of exchange rates on cash   1.1 (4.3)
    Net cash flows incurred by discontinued operations 3 22.4 (17.0)
    Net increase (decrease) in cash and cash equivalents   14.7 (22.9)
    Cash and cash equivalents at beginning of year   327.0 298.0
    Cash and cash equivalents at end of period   341.7 275.1

    See the notes to the Interim Consolidated Financial Statements

    Unaudited Interim Consolidated statements of changes in equity

    Amounts in millions of
    US$. except share data    		 Number of Shares issued Share capital Additional paid-in capital Retained earnings Other reserves Treasury shares Income and expense recognized directly in equity Cumulative translation adjustment Equity attributable to owners of Viridien S.A. Non-controlling interests Total equity
    Balance at January 1, 2023 7 123 573 8.7 118.6 967.9 50.0 (20.1) (3.4) (102.4) 1 019.3 39.5 1 058.8
    Net gain (loss) on actuarial changes on pension plan (1)       (0.7)         (0.7)   (0.7)
    Net gain (loss) on cash flow hedges (2)             0.2   0.2   0.2
    Net gain (loss) on translation adjustments (3)               11.7 11.7 (1.2) 10.5
    Other comprehensive income (1)+(2)+(3) – – – (0.7) – – 0.2 11.7 11.2 (1.2) 10.0
    Net income (loss) (4)       28.0         28.0 3.5 31.5
    Comprehensive income (1)+(2)+(3)+(4) – – – 27.3 – – 0.2 11.7 39.2 2.3 41.5
    Exercise of warrants 238   0.1           0.1   0.1
    Dividends                 – (0.9) (0.9)
    Cost of share-based payment 12 951     1.7         1.7   1.7
    Variation in translation adjustments generated by the parent company         (10.7)       (10.7)   (10.7)
    Balance at September 30, 2023 7 136 763(a) 8.7 118.7 996.9 39.3 (20.1) (3.2) (90.7) 1 049.6 40.9 1 090.5
    Amounts in millions of
    US$. except share data    		 Number of Shares issued Share capital Additional paid-in capital Retained earnings Other reserves Treasury shares Income and expense recognized directly in equity Cumulative translation adjustment Equity attributable to owners of Viridien S.A. Non-controlling interests Total equity
    Balance at January 1, 2024 7 136 763 8.7 118.7 980.4 27.3 (20.1) (1.4) (90.8) 1 022.8 41.5 1 064.3
    Net gain (loss) on actuarial changes on pension plan (1)       0.4         0.4   0.4
    Net gain (loss) on cash flow hedges (2)             0.2   0.2   0.2
    Net gain (loss) on translation adjustments (3)               2.9 2.9 0.4 3.3
    Other comprehensive income (1)+(2)+(3) – – – 0.4 – – 0.2 2.9 3.5 0.4 3.9
    Net income (loss) (4)       21.2         21.2 0.4 21.6
    Comprehensive income (1)+(2)+(3)+(4) – – – 21.6 – – 0.2 2.9 24.7 0,8 25.5
    Dividends                 – (3.8) (3.8)
    Cost of share-based payment 24 703     2.0         2.0   2.0
    Variation in translation adjustments generated by the parent company         (7.5)       (7.5)   (7.5)
    Balance at September 30, 2024 7 161 465(b) 8.7 118.7 1 004.0 19.8 (20.1) (1.2) (87.9) 1 042.0 38.5 1 080.5

    (a)   Pro forma following Reverse Share Split

    (b)   Reverse Share Split: Pursuant to a delegation from the Combined General Meeting of shareholders of May 15, 2024, and a sub-delegation from the Board of Directors held on the same day, the Company’s Chief Executive Officer has decided to implement a reverse share split on the basis of 1 new share of €1.00 nominal value for 100 old shares of €0.01 nominal value.

    1All variations refer to the same period last year
    2Unless otherwise stated, all figures and comments are referring to “Segment” (i.e. pre-IFRS 15), as defined in the 2023 Universal Registration Document’s glossary, under section 8.7

    Attachment

    The MIL Network –