Category: Economy

MIL-OSI Russia: IMF Staff Reaches Staff-Level Agreement with Serbia on the Fourth Review under the Stand-By Arrangement and on a 36-Month Policy Coordination Instrument Request
Source: IMF – News in Russian

October 16, 2024

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.
- The Serbian authorities and IMF staff reached staff-level agreement on the fourth and final review under the Stand-By Arrangement (SBA) and on a successor 36-month Policy Coordination Instrument (PCI) request. The PCI is a non-financing instrument designed to support strong economic policies. The agreement is subject to approval by the IMF Executive Board and is expected to be considered by the Board in December 2024.
- Macroeconomic outcomes in Serbia remain strong. Growth and the labor market are robust, and inflation has fallen. Foreign exchange reserves are at a record high, and the public debt burden continues to decline.
- Under the PCI, Serbia commits to fiscal deficits not exceeding 3.0 percent of GDP over 2025-27, to further prioritize spending in case of fiscal shocks, and to keep public wage and pension increases aligned with its fiscal rules. The PCI will balance Serbia’s public investment and social expenditure needs with continued fiscal discipline to support sustainable growth while keeping public debt on a downward path.
Washington, DC: An International Monetary Fund (IMF) mission, led by Donal McGettigan, met with the Serbian authorities during October 3-15, 2024, to discuss performance under Serbia’s Stand-By Arrangement (SBA) and the authorities’ request for a successor 36-month Policy Coordination Instrument (PCI) that will run from December 2024 to December 2027. The PCI is a non-financing instrument designed to support strong economic policies. At the conclusion of the mission, Mr. McGettigan issued the following statement:

“I am pleased to announce that the Serbian authorities and the IMF team have reached staff-level agreement on the conclusion of the fourth and final review under the SBA and on a successor 36-month PCI.

“The two-year SBA was approved by the IMF Executive Board in December 2022. It supported Serbia in navigating a period of major economic uncertainty and energy price volatility. Under the SBA, Serbia successfully implemented macroeconomic policies that underpinned external and fiscal sustainability and that rebuilt buffers to deal with future shocks. Serbia has increased and modernized its energy tariffs and has initiated corporate restructuring at the electricity provider EPS to improve the financial sustainability and efficiency of the energy sector. Serbia also made good progress on important fiscal structural reforms and advanced efforts to improve state-owned enterprise (SOE) governance.

“Reflecting the success of the economic program supported by the SBA, and in view of Serbia’s commitment to continued strong economic policies, Serbia was awarded an investment grade credit rating for the first time, by S&P Global Ratings, in October 2024.

“Serbia’s macroeconomic outcomes in 2024 are impressive. We project growth to reach 3.9 percent in 2024 and to increase to around 4¼ percent over the coming years. Headline inflation has returned to the National Bank of Serbia’s target band, supported by tighter monetary policy and easing energy and food prices, but core inflation remains elevated.

“The fiscal deficit is set to increase to 2.7 percent of GDP in 2024, to help fund additional infrastructure, social, and defense spending needs. Based on strong fiscal revenue performance, robust economic growth, and a recent upward GDP revision, public debt is expected to fall to about 48 percent of GDP by end-2024.

“As domestic demand picks up, and Serbia’s public investment drive continues, the current account deficit is projected to widen in 2024 and to increase further over the medium term. Continued strong FDI inflows are, however, expected to more than offset the current account deficit over the coming years and to allow for ongoing reserve accumulation. The financial sector is well-capitalized and liquid.

“Key risks to Serbia’s economic outlook include: foreign demand, FDI and commodity price outlooks that are subject to uncertainty and risks, deepening geoeconomic fragmentation, and the exposure of agricultural output and economic activity to climate change and extreme weather events.

“Serbia therefore needs ample buffers against uncertainties and risks. Encouragingly, foreign exchange reserves and government deposits are high, public debt and external debt are sustainable, and the banking system is strong. Continued prudent polices provide an additional important buffer.

“Serbia’s program performance under the SBA remains strong. All relevant quantitative and standard continuous performance criteria have been met, as have most indicative targets and structural benchmarks. Thanks to progress made under the SBA, Serbia intends to continue to treat the SBA, set to expire in December 2024, as precautionary.

“To continue leveraging IMF support for Serbia’s economic policies, the Serbian authorities and IMF staff also reached an agreement on medium-term macroeconomic and financial policies under a successor 36-month Policy Coordination Instrument (PCI) that will run from December 2024 to December 2027. The PCI will support Serbia in credibly maintaining fiscal discipline while making room for spending on public investment and other essential items. The PCI will also help Serbia advance its ongoing ambitious structural reform agenda, focused on fiscal, SOE, and energy reforms.

“Under the PCI, the Serbian authorities commit to keeping the annual overall fiscal deficit at no more than 3.0 percent of GDP over 2025-27. Absent large adverse shocks, this would be consistent with an ongoing decline in the public debt burden. To achieve this core macroeconomic objective, the authorities commit to adhere to their special fiscal rules on public wages and pensions which they adopted in 2022, and to review options for rationalizing and monitoring expenditure items that grew rapidly in 2024. In the event of additional fiscal spending pressures, the authorities commit to further prioritizing public spending.

“The PCI will help the authorities improve public financial management, public investment management, fiscal risk management, fiscal transparency, and public workforce and pension planning. It will also leverage extensive IMF technical assistance to resolve staffing challenges in the tax administration, an urgent and macro-critical priority. It will assist the authorities in refining and operationalizing the energy investment plan, improving the financial sustainability of energy SOEs, and preparing Serbia for the introduction of the EU carbon border adjustment mechanism (CBAM). Finally, the PCI will aid the authorities with important and complex SOE governance reforms, including in the energy sector.

“The IMF team would like to thank all their counterparts for the open and constructive discussions.”

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Camila Perez

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

@IMFSpokesperson

https://www.imf.org/en/News/Articles/2024/10/15/pr-24371-serbia-imf-agreement-4th-rev-arrangement-36mo-policy-coordination-instrument

MIL OSI
MIL OSI Russia News –
January 23, 2025
MIL-OSI United Kingdom: Motor insurance

Source: United Kingdom – Executive Government & Departments 2

Cross-government taskforce created to evaluate the impact of increased insurance costs on consumers and industry.

Delivered on:

16 October 2024

Today (16 October 2024) the Economic Secretary to the Treasury and I will co-chair the first meeting of a new cross-government taskforce on motor insurance.

Motor insurance is an essential, not a luxury. It is vital to accessing economic opportunities and this government is committed to ensuring drivers are treated fairly.

This government is committed to tackling increases in motor insurance premiums – which have risen at far higher rates in the UK than in other comparable economies. While motor insurance is a complex market, the government wants to ensure that it works well for the drivers it serves.

The taskforce, which will be attended by ministers from several departments and by the Financial Conduct Authority (FCA) and Competition and Markets Authority (CMA), has a strategic remit to set the direction for government policy in this area. It will identify the drivers behind rising premiums and will agree short-term and long-term actions for departments that can contribute to stabilising or reducing premiums, while maintaining appropriate levels of cover.

The taskforce will evaluate the impact of increased insurance costs on consumers and the insurance industry, including how this impacts different demographics, geographies and communities.

Whilst all drivers have struggled with rising costs, it is important to recognise the particular pressures on specific groups that face barriers to accessing fair and affordable motor insurance. This includes ethnic minorities, those on lower incomes, and elderly and young drivers. This taskforce will therefore have an additional focus on those groups.

The taskforce’s first meeting will also be attended by representatives from the motor and insurance industries, consumer champions and other relevant groups.

Improving access to appropriate and affordable insurance is key to supporting people’s financial resilience, wellbeing and making sure they can benefit fully from this government’s wider economic agenda of inclusive growth and breaking down the barriers to opportunities. I look forward to updating the House on the taskforce’s progress on these matters in the coming months.

Updates to this page

Published 16 October 2024

MIL OSI United Kingdom –

January 23, 2025
MIL-OSI United Kingdom: Press Release – Alderney Budget 2025 Wednesday 16 October 2024

Source: Channel Islands – States of Alderney

Press Release

Date: 16^th October 2024

Alderney balances the books despite a fragile economy

Alderney’s senior politician presented a balanced budget to the States today (October 16^th) but he warned Members that the Island was “living beyond its means”.

Policy & Finance Chair Nigel Vooght announced a revised £400,000 surplus in this year’s forecast which allowed the States to approve a 2025 Budget with no increases in Alderney Property Tax (APT) or Water Rates.

He told the States meeting:

“Despite delivering this balanced budget, we must be conscious of the simple fact that Alderney is living beyond its means as the cost of transferred services such as healthcare, education, the airport and emergency services exceed the taxes paid to the Bailiwick to help to pay for these. Despite the likelihood that income tax may increase, these services cost more than we contribute to the Guernsey Treasury.

“The 1948 agreement was set up post-war when Alderney needed expertise and resources in return for which we entered a fiscal union which initially resulted in us producing a surplus of revenue versus the cost of transferred services. This is not the case today.

“We are grateful to Guernsey for these transferred services but we must be mindful that this is not a sustainable position, especially given the financial difficulties Guernsey faces. Although we are a separate jurisdiction, we are in a fiscal union and partnership with Guernsey and must look for ways to grow our economy to generate new revenue streams.”

The immediate priority is a refurbished runway and improved air connectivity which will help make Alderney more attractive as a place to live and work, thus growing the economy and attracting inward investment. In the medium term, seeking new sustainable economic growth that will create revenue streams.

Key points in the 2025 Budget approved by the States include:

·         No increase to APT in 2025

·         Fuel Duty to be consistent with the States of Guernsey rate for 2025

·         Document Duty pegged at 2024 levels

·         No increase to Water Rates which went up marginally in 2024

An increase in investment interest and higher than expected returns from Document Duty and Property Transfer duties were key factors contributing to a revised £400,000 surplus for this year, despite an increase in the cost of services.

However, the budget for next year indicates a more modest “break even” surplus of £29,000 as operational costs are budgeted to increase by £354,000 compared with 2024, accounting for almost all of expected operating income and taxation.

Mr Vooght explained:

“Alderney is reliant on limited income streams such as APT, Fuel Duty, and Document Duty and this needs to be taken into consideration for future budgets and how we manage growing costs. Efforts to improve efficiency and reduce costs across various departments is being addressed with all budget holders.”

Meanwhile, the States’ Capital Programme is mainly funded by Alderney Gambling Control Commission (AGCC) surpluses, together with income from asset sales. Estimated AGCC gross distribution for 2025 is expected to be in the region of £1.9M, a decrease in the income from 2024 which has been maintained at £2.2M.

There is no cash allocation received from the States of Guernsey in respect of Capital funding.

Mr Vooght concluded:

“While the budget demonstrates a responsible financial approach, it’s essential to remain vigilant about potential risks and uncertainties. Factors such as geopolitical and economic fluctuations, changes in government policies and unforeseen expenses could impact future budgets.

“Recommendations for future consideration will include exploring alternative revenue sources to diversify the States’ income streams and reduce reliance on a few key taxes. We also need to continue to review and optimise operational costs to identify areas for further efficiency gains.”

His report paid tribute to the Head of Finance, Liz Maurice, supported by the Treasury team as well as budget holders for their work involved in preparing the Budget.

Ends

States of Alderney media enquiries:Alistair.Forrest2@gov.gg

MIL OSI United Kingdom –

January 23, 2025

MIL-OSI New Zealand: Property and Social Trends – Are Kiwis moving more often than ever?

Source: RealEstate.nz

New data suggests the ‘forever home’ may be a thing of the past, with the ‘seven-year itch’ now closer to five.

Auckland, where properties were sold the fastest saw a modest 12.2% increase in average asking prices.
Conversely, West Coast, where properties were held for longer, saw an impressive 97.9% rise over the average selling period.
Taranaki tops the list for staying power, holding onto their homes the longest— six years and five months on average.

17 October 2024 – The concept of the ‘forever home’ appears to be fading in New Zealand, with new data from realestate.co.nz revealing that Kiwis now hold onto their homes for an average of just five and a half years before selling.

The data, which looks at the amount of time that property is held onto until it is re-sold, shows, on average, people hold properties for the least time in Auckland.

The time between sales for properties in Auckland was approximately five years and three months. At the other end of the scale, Kiwis held onto their properties for the longest in Taranaki (six years and five months) and Manawatu/Whanganui (six years and four months).

“People move for many reasons—employment opportunities, the desire for more space, the need to accommodate aging parents, or even downsizing after the kids have left. This frequent movement is likely a reflection of changing lifestyle needs and opportunities across New Zealand,” says Vanessa Williams, realestate.co.nz spokesperson.

The movers: Auckland, Waikato, Nelson & Bays, and Bay of Plenty

Whether it’s the pace of the city, the pull of keeping up with the Joneses, or the appeal of various lifestyle changes, Auckland has seen its properties change hands the most often.

Williams says as our most populated region, Auckland’s size is likely a factor:

“Auckland offers good employment opportunities while catering for lifestyle changes of all kinds, including for those looking for their second home or wanting to downsize into retirement. This could explain why properties are sold more often in this region.”

Other regions where property moved more quickly than the national average were Waikato, Nelson and Bays, and Bay of Plenty, where the average time between sales was five years and four months.

The districts where properties were sold the most often were Selwyn in Canterbury (four years and nine months), Franklin in Auckland (four years and 10 months), the Waikato district (five years), and Papakura in Auckland (five years).

Williams notes that it’s no surprise the districts with the fastest sales are in Canterbury, Auckland, and Waikato.

“Buying a property is so often an emotional decision. And in these larger regions, where there is more to choose from, the chances of wandering into an open home and falling in love or spotting a for sale sign on a house in the perfect location are probably higher.”

Region

District

Average time between sales

Canterbury

Selwyn

4 years, 9 months

Auckland

Franklin

4 years, 10 months

Waikato

5 years, 0 months

Auckland

Papakura

5 years, 0 months

Auckland

Rodney

5 years, 1 months

Waikato

Waipa

5 years, 1 months

Canterbury

Waimakariri

5 years, 1 months

Wairarapa

Carterton

5 years, 2 months

Bay of Plenty

Tauranga

5 years, 2 months

Auckland

North Shore City

5 years, 3 months

The districts where people are re-selling their properties faster

The stayers: Taranaki, Manawatu/Whanganui, Gisborne, West Coast, and Hawke’s Bay

Kiwis held onto their homes longest in Taranaki (six years and five months), Manawatu/Whanganui (six years and four months), Gisborne (six years and three months), West Coast (six years and two months), and Hawke’s Bay (six years).

At a district level, properties in South Taranaki were held the longest (six years and eight months), followed by Tararua in Manawatu/Whanganui (six years and six months) and Ruapehu in Central North Island (six years and six months).

Williams says smaller towns tend to have fewer properties available for sale:

“In smaller regions, limited housing options often lead people to stay in their homes longer while waiting for the ideal property to hit the market,” says Williams. “In addition, close-knit communities and businesses like farms can create a deeper connection to the area, making people less inclined to move frequently.”

The districts where people are holding onto their properties for longer

Region

District

Average time between sales

Southland

Gore

6 years, 4 months

Wellington

Wellington City

6 years, 4 months

Manawatu / Whanganui

Horowhenua

6 years, 4 months

Wellington

Lower Hutt City

6 years, 4 months

West Coast

Buller

6 years, 4 months

Manawatu / Whanganui

Palmerston North City

6 years, 4 months

Manawatu / Whanganui

Whanganui

6 years, 5 months

Central North Island

Ruapehu

6 years, 6 months

Manawatu / Whanganui

Tararua

6 years, 6 months

Taranaki

South Taranaki

6 years, 8 months

But what about the financial gains? Does it pay to stay, or should you go?

All regions saw a lift in their average asking prices, regardless of how long properties were held between sales. However, there were some regional differences.

Five years and three months ago, in June 2019, the average asking price in Auckland was $929,742; in September 2024 it was 12.2% higher at $1,042,883. In Waikato, the increase was more substantial, with average asking prices rising 32.6%, from $609,272 in May 2019 to $808,153 in September 2024.

“Aucklanders have been the fastest to move on, but of all regions, they have seen the smallest financial gain over the last five and a half years.”

“Holding for longer can sometimes mean bigger gains, but many factors can impact this, including market conditions, economic factors, legislative changes, your region, and demand in your area,” says Williams.

The biggest increases in average asking prices over the average selling period were seen on the West Coast, where prices rose by 97.9% over six years and two months. In Gisborne, where homes were sold on average every six years and three months, prices increased by 79.1%. In Manawatu/Whanganui, where properties changed hands every six years and four months, prices rose by 76.7%.

Ultimately, Williams urges people to buy based on their personal circumstances, rather than trying to predict what the market might do.

More than a million New Zealand homes have never been sold

We may be a nation of property fanatics, but well over a million homes have never gone up for sale on realestate.co.nz, despite the site listing 935,048 individual properties since records began 17 years ago.

“Statistics New Zealand data from September 2024 estimates there are just over 2 million private dwellings in New Zealand, meaning there are more than a million homes that have been in the same hands since realestate.co.nz records began 17 years ago,” says Williams.

She notes that Kiwis tend to have a strong connection to property and place.

“It will be interesting to look back again in another decade or two and see, as lifestyles change if we see a similar percentage of homes staying with the same owners,” adds Williams.

About realestate.co.nz

We’ve been helping people buy, sell, or rent property since 1996.

Established before Google, realestate.co.nz is New Zealand’s longest-standing property website and the official website of the real estate industry.

Dedicated only to property, our mission is to empower people with a property search tool they can use to find the life they want to live. With residential, lifestyle, rural and commercial property listings, realestate.co.nz is the place to start for those looking to buy or sell property.

Whatever life you’re searching for, it all starts here.

Want more property insights?

Market insights: Search by suburb to see median sale prices, popular property types and trends over time.
Sold properties: Switch your search to sold to see the last 12 months of sales and prices.
Valuations: Get a gauge on property prices by browsing sold residential properties, with the latest sale prices and an estimated value in the current market.

Glossary of terms:

Average asking price (AAP) is neither a valuation nor the sale price. It is an indication of current market sentiment. Statistically, asking prices tend to correlate closely with the sales prices recorded in future months when those properties are sold. As it looks at different data, average asking prices may differ from recorded sales data released simultaneously.

Sales data is provided by the Real Estate Institute of New Zealand (REINZ)

New listings are a record of all the new residential dwellings listed for sale on realestate.co.nz for the relevant calendar month. The site reflects 97% of all properties listed through licensed real estate agents and major developers in New Zealand. This description gives a representative view of the New Zealand property market.

Stock is the total number of residential dwellings that are for sale on realestate.co.nz on the penultimate day of the month.

Rate of sale is a measure of how long it would take, theoretically, to sell the current stock at current average rates of sale if no new properties were to be listed for sale. It provides a measure of the rate of turnover in the market.

Seasonal adjustment is a method realestate.co.nz uses to represent better the core underlying trend of the property market in New Zealand. This is done using methodology from the New Zealand Institute of Economic Research.

Truncated mean is the method realestate.co.nz uses to supply statistically relevant asking prices. The top and bottom 10% of listings in each area are removed before the average is calculated to prevent exceptional listings from providing false impressions.

MIL OSI New Zealand News –

January 23, 2025

MIL-OSI Africa: Secretary-General’s remarks to the Fifth Committee of the General Assembly on the Proposed Programme Budget for 2025

Source: United Nations – English

xcellencies, Distinguished delegates,

I welcome this opportunity to introduce the proposed programme budget for 2025.

I do so in a context of a multiplicity of challenges and with a strong sense of urgency.

In a context of major global shocks, the United Nations is more needed than ever — with our unmatched convening power.

The Pact for the Future, the Global Digital Compact and the Declaration on Future Generations represent a commitment towards updating and reforming international cooperation to make it more networked, effective, fair and inclusive.

The 2025 programme budget proposal reflects in many ways, the priorities set out in these landmark agreements.

The proposal renews our commitment to deliver on our mandates to advance peace, sustainable development, and human rights.

At the same time, we will continue to work to cement our reforms, fostering a culture of continuous improvement.

In the new digital age, the United Nations has an essential part to play.

We reached a milestone with the Global Digital Compact which includes the first truly universal agreement on the international governance of Artificial Intelligence with the UN at its centre.

Madam Chair, distinguished delegates,

In December 2022, the General Assembly lifted the trial period and formalized the change to an annual budget period.

The format of the programme budget has stabilized. The programme plans reflect our increased results-orientation.
Our 350 results frameworks continue to move further towards demonstrating the impact and positive change of our work on the ground.

The planned targets have become more ambitious.

More than 65 percent of quantitative planned targets are now aiming to achieve a 10 percent or more increase in performance. This is an increase from less than 30 percent in the 2018-19 biennium, 45 percent for 2023, and 60 percent for 2024.

We have reduced duplication in the strategies and deliverables, while maintaining the same level of programmatic information.

Every programme manager is expected to scrutinize every dollar spent and planned to be spent.

And they must constantly review and adjust programmatic activities to achieve planned results.

This will allow us to optimize resources for mandate delivery and focus even more effectively on results.

Let me now turn to the overall resource requirements.

To fully implement our mandates, we will require a total of $3.6 billion in 2025.

Excluding Special Political Missions, this includes a total of 10,494 posts, representing a net increase of 115 posts required to implement new or strengthen existing mandates.

The proposed budget also includes $711 million for the continuation of 36 Special Political Missions for 2025.

This reflects a decrease of $31 million from last year primarily because of the discontinuation of the field mission in Sudan (UNITAMS), and our investigative team to promote accountability for the crimes committed in Iraq by Da’esh/ISIL (UNITAD).

In line with the usual practice, you will consider later in the session additional proposals for construction, revised estimates and programme budget implications resulting from new or revised mandates. These include revised estimates in support of the implementation of the Pact of the Future, and for UNRWA.

We continue to make every effort to find efficiencies while also recognizing that any further cuts to support departments risk jeopardizing policy, operational, or communication support to our programmatic work.

Allow me to highlight five specific elements of our 2025 programme budget proposals:

First, we propose to continue our investment in sustainable development.

We propose an increase of approximately $4.5 million, the sixth consecutive annual increase for the development pillar.

The Regular Programme of Technical Cooperation – or RPTC — will be a key recipient.

The increases will further strengthen the direct support provided to governments to help advance their development efforts.

With the proposed increase of $2 million, resources for the RPTC will have grown by more than 45% since 2019.

The proposed increase in the RPTC will be split evenly between all entities.

However, we propose an additional $0.5 million for the Economic Commission for Africa for technical assistance and advice to Member States on the 2030 Agenda and the African Union’s Agenda 2063.

Our proposal also includes an increase of $1 million for the Development Account to enhance and expand targeted, country-level capacity development support and to broaden the dissemination of the projects’ results to more countries.

We also seek increases of $0.6 million for the Office of the Special Adviser on Africa and $0.75 million for the Office of the High Representative for Least Developed Countries, Landlocked Developing Countries, and Small Island Developing States.

Further, we want to strengthen the UN development system through structural changes to help ensure sufficient and predictable funding — and enhanced accountability.

The Resident Coordinator system has faced a chronic funding shortfall since day one.

A sustainable and predictable funding mechanism, through partial financing from the regular budget, is essential.

My proposal for assessed funding is under review by this Committee.

It is important to reach a decision on this topic.

Member States’ expectations of the RC system are growing.

The effects of the funding gap are felt every day. For example, the recruitment for 78 posts across 52 countries has been suspended.

We also seek to put the small System-Wide Evaluation Office on a firmer footing with regular budget funding.

This will further enhance transparency and ensure effective, independent evaluation of the UN development system at the country level – the raison d’etre of the UNSDG System-Wide Evaluation Office.

Second, human rights.

The proposal includes an additional $8.3 million to support the work of the Independent Institution on Missing Persons in the Syrian Arab Republic and ensure its functioning at full capacity in 2025.

We are also seeking an increase of $8 million for the Office of the High Commissioner for Human Rights for more effective implementation of mandates, especially at the regional level.

Additionally, based on the recommendation of the ACABQ and the guidance from the General Assembly, we have included resource requirements that will arise from anticipated mandate renewals by the Human Rights Council later in the year.

By presenting these resource requirements now rather than separately later in the session, Member States have a more complete picture of the resources being sought for the Office. This will also reduce fragmentation and increase transparency.

Let me emphasize that this consolidation, which amounts to $28.8 million, does not represent an increase in resources – only a change in presentation.

Third, boosting support for the unprecedented humanitarian challenges in Gaza, with approximately $3.5 million in additional resources.

This includes an increase of nearly $2.5 million for UNRWA which complements the additional $30 million approved for 2024.

UNRWA is a lifeline for Palestine refugees, and a crucial factor for regional stability.

Fourth, advancing peace and security.

This includes an increase of $2.5 million for disarmament, including the establishment of 9 posts to implement activities requested by the General Assembly.

We are also seeking an increase of $1 million for the Office of the UN Special Coordinator for the Middle East peace process to intensify its vital work.

Following the landmark decision of the General Assembly, we will address persistent funding challenges of the Peacebuilding Fund due to its exclusive reliance on voluntary contributions — by approving a $50 million dollar grant for the Peacebuilding and Recovery Facility of the Peacebuilding Fund starting in 2025.

And fifth, strengthening our capacities in investigation and ethics.
We are seeking an approximately $2 million increase, for the creation of three temporary positions for the Ethics Office and ten for the Office of Internal Oversight Services.

Madam Chair, distinguished delegates,

With the structural aspects of the reforms now well consolidated, it is imperative to keep working together to achieve the cultural change for results.

Our 2025 budget continues to strive towards our shared vision for UN 2.0, through a forward-thinking workforce culture, empowered by cutting-edge skills.

Gender equality and geographical representation remain priorities.

We are working nonstop to ensure that our workforce reflects the membership of the United Nations.

The General Assembly decision to increase the number of geographical posts has enabled us to reduce the total countries that were un- or under-represented and over-represented. 120 countries are now within range compared to 103 in December 2023.

We are revising our strategy for equitable geographical distribution to focus on attracting more staff from countries that are un-or under-represented.

Through our RC system and UN Information Centres, we have launched targeted outreach strategies in those countries, namely in many of the developing countries that are under-represented.

In the same vein, we strive to expand opportunities for recruitment from as wide a geographical basis as possible for all posts.

All these efforts are yielding results. For example, at the start of the UN development system reform, 41% of Resident Coordinators were from the global South. Today, this number has increased to 57%.

We have successfully maintained gender parity at senior levels and, based on current projections, we will be able to reach parity at an Organizational level before 2028.

But we must do more to achieve parity at every entity and every level.

We are also working on the next phase of our system-wide disability inclusion strategy and making progress in our efforts to combat racism and racial discrimination at work.

Madam Chair, distinguished delegates,

The proposal before you reflects our ambition to respond to new threats and opportunities.

For us to deliver on our promises, Member States must also honour their commitments to this Organization.

Ultimately, the effectiveness of programme delivery and use of financial resources in 2025 will depend on the availability of cash.

I hope that we can end the current trend of declining liquidity.

The Organization started this year with only about $67 million in cash, compared to $700 million last year, making it extremely vulnerable to adverse changes in payment patterns of assessed contributions.

On top of that, the Organization had to return $114 million as credits to Member States as part of the 2024 assessments, which meant that we would collect less than the budget approved for 2024, even if all Member States pay in full in 2024.

The depletion of the regular budget liquidity reserves at the end of 2023 therefore necessitated imposing stringent cash-conservation measures from the very beginning of 2024.

Unless the liquidity reserves are replenished fully at the end of this year, cash conservation measures are again likely to constrain budget implementation in 2025.

This is why I have proposed that the General Assembly temporarily suspend the return of credits for 2023 against the 2025 assessment.

The credits will be held in a reserve and released to Member States as soon as conditions improve.

This is critical to both minimize the risk of negative impact on programme delivery and the ability to fulfill even non-discretionary commitments to personnel and third-party partners in 2025.

I once again urge Member States to meet their financial obligations in full and on time.

I thank Member States that have paid in advance or earlier than before, and have made adjustments to their internal processes to continue to pay earlier.

We will keep monitoring the situation and reach out to Member States to pay in full and inform us of their plans so we can adapt our spending based as needed.

However, when programme delivery is repeatedly constrained by liquidity, past spending patterns become less reliable indicators of the real needs of the Organization.

Madam Chair, distinguished delegates,

The outcome of the Summit of the Future has opened pathways to new possibilities and opportunities towards securing a peaceful and livable future for everyone on our planet.

Against this backdrop, I look forward to your support for my 2025 programme budget proposal.

I welcome this opportunity to engage with you today and assure you that my senior managers will continue to support your deliberations on these proposals.

Thank you.

MIL OSI Africa –

January 23, 2025
MIL-OSI USA: Hickenlooper, Colleagues Push DOD to Fix Rule Hurting Colo. Springs Children’s Hospitals
US Senate News:
Source: United States Senator John Hickenlooper – Colorado

Rule change has caused financial challenges for Children’s hospitals serving defense communities, limited their ability to provide care

WASHINGTON – Today, U.S. Senators John Hickenlooper and Michael Bennet and U.S. Representatives Doug Lamborn and Jason Crow, along with 16 of their Senate and House colleagues, sent a letter to Secretary of Defense Lloyd Austin urging the Defense Health Agency (DHA) to address the financial burden caused by a change in the way children’s hospitals are reimbursed for the care they provide to military families covered by TRICARE, the government health care program for active duty service members and their families.

“We write to express our deep concerns about a 2023 Defense Health Agency (DHA) rule that catalyzed a major shift in the TRICARE reimbursement methodology for children’s hospitals,” wrote the lawmakers. “Children’s hospitals situated in defense communities in our home states are now grappling with the impacts of this change.”

DHA previously exempted children’s hospitals from the adult Medicare reimbursement process because the program’s policies aren’t applicable to the care children typically need. Over 2.4 million children obtain care from children’s hospitals through TRICARE each year, and the change has placed an outsized burden on children’s hospitals in major defense communities, like Colorado Springs. Specifically, the Children’s Hospital Colorado said one in five patients in their Colorado Springs facility pay with TRICARE. The rule change is expected to cost them over $25 million annually.

The Children’s Hospital Association (CHA) sent letters to the Department of Defense in 2020 and 2023 expressing their concerns about the proposed rule. However, they did not receive a response before the DHA implemented the change in October 2023.

The lawmakers specifically asked the following questions:
- What dialogue has DHA had with the affected children’s hospitals to understand how this new reimbursement methodology impacts operations and access to care?
- What data and sources informed the agency’s analysis of the impact on children’s hospitals that care for TRICARE patients?
- How did the agency account for the financial impacts of military families traveling for care in circumstances where local services are no longer available?
- How did the agency develop the contingency payment and why did the DHA set a lower contingency payment for pediatrics?
- Can the agency verify the number of children’s hospitals that are expected to qualify for the contingency payment that is outlined in the rule?
Hickenlooper has publicly supported reversing the rule change and offered an amendment to the annual National Defense Authorization Act that would have defrayed some of these costs.

The full text of the letter is available HERE.
MIL OSI USA News –
January 23, 2025
MIL-OSI Canada: Canada announces $29.4 million in funding to support small-scale financial institutions in developing countries

Source: Government of Canada News

Canada is helping companies of every size get a fair chance to succeed. But too often in developing countries around the world, financing, such as loans and insurance, is tough to access. That means that opportunities to grow are scarce.

October 16, 2024 – Montréal, Quebec – Global Affairs Canada

Canada is helping companies of every size get a fair chance to succeed. But too often in developing countries around the world, financing, such as loans and insurance, is tough to access. That means that opportunities to grow are scarce.

Canada is changing that by improving access to financial services for underserved global populations, including women.

Today, the Honourable Ahmed Hussen, Minister of International Development, announced $22.9 million in funding for the Aequitas Impact Investment Fund and $6.5 million for the fund’s Technical Assistance Facility, for a total of $29.4 million. This 12-year project, in partnership with Desjardins International Development (DID), will help make personalized financial services available to underserved communities around the world—helping them to grow and succeed.

The Aequitas Impact Investment Fund, launched in 2021, invests in small-scale financial institutions in developing countries to help them improve the availability of financial products, such as bank accounts, loans and insurance. These investments increase the availability of financial products and services for entrepreneurs who run micro-, small and medium-sized businesses, including women, youths and small-scale farmers in Africa, Asia, Eastern Europe and Latin America. Canada’s investment in this fund represents a key milestone in Canada’s progress in implementing the UN Sustainable Development Goals, particularly with investments in gender equality and international development.

Canada’s investment is supported by a technical assistance facility that helps financial institutions and their clients improve their access to financial products and services to build and sustain their businesses.

“We are extremely proud of the Government of Canada’s commitment to the Aequitas Impact Investment Fund. By pooling our efforts and resources, we will be able to do more to promote the economic empowerment of women, young people and entrepreneurs of micro-, small and medium-sized businesses. This investment lines up perfectly with our goal of having a positive impact on gender equality, climate action and sustainable development—not just in Canada, but around the world.”

– Guy Cormier, President and CEO, Desjardins Group

MIL OSI Canada News –

January 23, 2025
MIL-OSI Russia: The forum “Advanced digital and production technologies” has started at the Polytechnic University

MILES AXLE Translation. Region: Russian Federation –

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

On October 15, SPbPU opened the VI International Forum “Advanced Digital and Manufacturing Technologies”. The key topic of the forum is the development and application of advanced digital and manufacturing technologies as the basis for Russia’s technological leadership. The business program includes events dedicated to the most pressing topics of the national technological agenda.

Over the course of two days, leading experts will discuss the specifics of the development of the unmanned aircraft systems industry in Russia, trends and potential of domestic engineering software, the use of digital twin technology and new materials in industry, the advantages of seamless engineering education: “school — college — university — industry”, the possibilities of university technological entrepreneurship, as well as the specifics of ensuring legal protection and use of intellectual property and many other issues.

The organizers of the annual expert event are the structural divisions of the country’s leading technical university, which are the basis of the university’s technological development ecosystem. The forum is held with the support of the Ministry of Science and Higher Education of the Russian Federation within the framework of the national project “Science and Universities”, the federal project “Advanced Engineering Schools”.

The central event of the first day was the plenary session. It was attended by representatives of government agencies, development institutes, universities and leading enterprises in the high-tech industry.

First Deputy Chairman of the State Duma Committee of the Federal Assembly of the Russian Federation on Economic Policy Denis Kravchenko, Rector of the National Research Nuclear University MEPhI Vladimir Shevchenko, Deputy Chairman of the Council for the Development of the Digital Economy under the Federation Council of the Russian Federation Artem Sheikin, Director for Innovative Development of PJSC UEC-Saturn Dmitry Ivanov, Director of Science of PJSC Gazprom Neft Mars Khasanov became speakers of the session. The moderator of the event was Vice-Governor of St. Petersburg Vladimir Knyaginin.

A video address by the Minister of Science and Higher Education Valery Falkov opened the welcoming part. Valery Nikolaevich emphasized the importance of the forum as a platform for discussing the current agenda for the development of advanced digital and production technologies: The forum has acquired special significance in the context of solving the problems of achieving technological leadership in Russia. In order for these problems to be solved as quickly and efficiently as possible, the Ministry of Science and Higher Education is launching new projects for more effective interaction between universities and businesses. One of these projects is the Advanced Engineering School. It has proven its effectiveness precisely due to the close interaction of universities with companies. We are pleased to inform you that you will be presented with the positive experience and developments of one of the best advanced engineering schools – the school of the St. Petersburg Polytechnic University “Digital Engineering”. Specialists will tell you about new effective solutions and experience in the development and implementation of breakthrough technologies, as well as how to prepare a new generation of engineers.

On behalf of the Polytechnic University, the Rector of SPbPU, Academician of the Russian Academy of Sciences Andrey Rudskoy welcomed the forum participants: Peter the Great St. Petersburg Polytechnic University has always implemented a practice-oriented educational model aimed at fast and effective results for industry. We interact very closely with the industry. St. Petersburg Polytechnic University is a flagship university of PJSC Gazprom Neft, and among the university’s strategic partners are the state corporations Rosatom and Rostec, PJSC Severstal and other major enterprises that are systemically important for their industries. Representatives of many of them will participate in our forum as experts and speakers. The forum “Advanced Digital and Manufacturing Technologies” is a unique opportunity for direct communication, discussion of the most pressing issues on the educational, industrial, and technological agenda.

After this, the Vice-Governor of St. Petersburg Vladimir Knyaginin moved on to the main issues on the agenda of the plenary session.

Over the five years of its existence, the International Forum “Advanced Digital and Manufacturing Technologies” has become an authoritative platform for discussing current challenges and tasks. It is important that the organizer of this large-scale event is the Polytechnic University, which is one of the leaders in technical education and engineering sciences, not only in Russia, but also in the world. On the basis of the university, with the support of the Ministry of Education and Science of Russia and the Government of St. Petersburg, significant initiatives are being implemented aimed at the innovative development of our state and achieving its technological leadership, – Vladimir Nikolaevich emphasized.

Elena Druzhinina, Managing Director for Science and Business Cooperation at the Rostec State Corporation, presented the view of a participant in the real sector of the economy on the scientific, technological and educational agenda of the forum.

The St. Petersburg Polytechnic University and Rostec enterprises have been building various forms of interaction for a long time. We are ready to go further and create new forms of cooperation between science and business with the university. For example, the creation of a research and production association is a topic that is currently being actively discussed in this context. Also, the head of the Rostec State Corporation Sergey Chemezov supported the idea of creating an industrial postgraduate program, – concluded Elena Druzhinina.

First Deputy Chairman of the State Duma Committee on Economic Policy Denis Kravchenko supported the thesis on the need to expand cooperation between educational institutions and high-tech enterprises: I would like to emphasize the importance of close work on the part of the management of educational institutions and future employers in terms of equipping educational institutions and training students in working with domestic application software on real production equipment.

Vice-Rector for Digital Transformation of SPbPU Alexey Borovkov highlighted the approaches applied to the transformation of engineering education in his report and noted the dynamic growth of interest in advanced digital and production technologies, in particular, in the technology of digital twins. As well as in modern cross-industry platform solutions from industrial enterprises and government agencies: Digital twin technology is at the forefront, meeting the goal of achieving technological leadership, which consists in the superiority of technologies and products in key parameters over foreign analogues. The focus on technological leadership has pushed industries and the state to standardize and regulate those areas that were previously very cautiously discussed by the expert community. In recent years, we have seen how almost the same notes of our lectures with the terminology of advanced digital and production technologies are approved in regulatory documents, consolidating the scientific and technological groundwork formed by the ecosystem of technological development of SPbPU over many years.

Thus, the speaker noted the adoption of the national standard GOST R 57700.37-2021 “Computer models and modeling. DIGITAL DOUBLES OF PRODUCTS. General provisions” in Russia and in the international arena.

In 2023, the global digital twin market was valued at $10 billion, and by 2028, experts estimate it will reach $110 billion with an unprecedented annual CAGR growth of 61%. World leaders recognize digital twins as one of the technologies of the future, the speaker explained.

Alexey Ivanovich presented the ecosystem of technological development of SPbPU, which forms the “gold standard” of interaction between various federal structures, organized based on the results of victories in prestigious competitions of the Ministry of Education and Science of Russia with the aim of developing, replicating and expanding the scope of application of advanced digital and production technologies in industry and education.

Alexey Borovkov spoke about the key results of R&D of the SPbPU technological development ecosystem, carried out on the Digital Platform for the Development and Application of Digital Twins CML-Bench® in 2024.

In conclusion, Aleksey Borovkov noted the flagship role of the SPbPU Advanced Engineering School “Digital Engineering” in the ecosystem of technological development of the Polytechnic University and emphasized the growing interest in it from applicants and partner companies: Following the results of the admissions campaign in 2023, students were recruited to the SPbPU Advanced Engineering School “Digital Engineering” for 72 budget places. This year, the number of budget places and open educational programs has almost doubled, but we managed to maintain a high competition for admission, which is 4 people per place. The geography of admission covers almost all regions of our country, – Aleksey Ivanovich summed up.

Based on the methodology of the federal project “Advanced Engineering Schools”, the rector of the National Research Nuclear University MEPhI Vladimir Shevchenko identified common patterns in organizing cooperation between partner companies and advanced engineering schools in the context of transforming approaches to engineering education and developing a system for training highly qualified personnel.

The education of a modern engineer should, from the very beginning, assume an understanding that modern engineering and production activities occur in parallel in two worlds: physical and digital. I would like to emphasize the benefits of conducting early career guidance activities with applicants, which over the past year has made it possible to equalize the number of graduates taking the Unified State Exam in physics and computer science. For a modern engineer, these two disciplines should be in tandem, concluded Vladimir Igorevich.

Deputy Chairman of the Council for the Development of the Digital Economy under the Federation Council of the Russian Federation Artem Sheikin spoke in detail about the main barriers to the introduction of artificial intelligence in real sectors of the economy in order to automate business processes, reduce costs and increase the efficiency of enterprises, and also spoke about the cybersecurity of processes for handling large volumes of industrial data.

Director of Innovative Development of PJSC UEC-Saturn, Honorary Doctor of SPbPU Dmitry Ivanov shared his practical experience in developing digital twin of marine gas turbine engine gearbox as part of the unit within the framework of research work of national importance, carried out jointly with SPbPU, and highlighted a number of aspects.

Everyone perceives digital twin technology differently. Very often, the technology is presented to enterprises as another calculation tool, work with which should be transferred down the hierarchy of engineering teams. This is a mistake. The digital twin changes the ideology of product design and production, including changes in the system of division of labor, business processes at the enterprise level, – Dmitry Stanislavovich emphasized to the audience.

Director of Science at Gazprom Neft PJSC, Honorary Doctor of SPbPU Mars Khasanov presented an expert opinion on the implementation of system digital engineering technology, including digital twin technology, and considered the possibilities of combining it with neurosymbolic artificial intelligence to solve the company’s problems. Mars Magnavievich emphasized the need for practice-oriented training of personnel and highlighted various formats of project interaction at Gazprom Neft PJSC to form the required set of competencies of a future specialist.

At the plenary session, representatives of research centers, leading universities and industrial enterprises exchanged experience in the application of new technologies, assessed the dynamics of their development and the speed of implementation in real production practice, held a discussion on the main trends in the development of domestic engineering software and discussed current issues in engineering education. More details about the plenary session read here.

The business forum program traditionally consists of discussions, scientific and educational debates, pitch sessions, presentations. The full program of the forum can be found atevent website.

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.

https://vvv.spbstu.ru/media/nevs/science_and_innovations/forum-advanced-digital-and-production-technologies has started at the Polytechnic University/

MIL OSI Russia News –

January 23, 2025
MIL-OSI Russia: Marat Khusnullin took part in an extended joint meeting of the State Duma committees in preparation for the government hour

MILES AXLE Translation. Region: Russian Federation –

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

Marat Khusnullin took part in a meeting of the State Duma committees in preparation for the government hour

October 16, 2024

Marat Khusnullin took part in a meeting of the State Duma committees in preparation for the government hour

October 16, 2024

Previous news Next news

Marat Khusnullin took part in a meeting of the State Duma committees in preparation for the government hour

Deputy Prime Minister Marat Khusnullin took part in an extended joint meeting of three relevant committees in preparation for government hour.

On the eve of the government hour, the participants discussed the key areas of the new national project “Infrastructure for Life”, the main tasks for the country’s infrastructure development in the coming years, including the housing and utilities sector.

“On the instructions of the President, we are forming a new national project “Infrastructure for Life”, in which one of the key blocks is the modernization of the public utility infrastructure. We must form a clear plan and a set of specific mechanisms – how exactly we will improve the quality of existing public utilities for Russians and develop housing and communal services in the future. In particular, we must take into account that by 2030 the task is to build 1 billion square meters of housing. Thus, to fulfill all the tasks set in the housing and communal services sector, it is necessary to strictly account for the existing volume of public utility networks, their capacity, improve executive discipline, and develop related infrastructure. As part of the new national project, we will also determine master plans for at least 200 settlements, which, among other things, must have verified schemes of public utility networks. In general, we have a lot of, but very important, work ahead of us. By 2030, we will allocate 4.5 trillion rubles to modernize the public utility infrastructure, which will improve the quality of services provided to about 20 million people,” said Marat Khusnullin.

Chairman of the State Duma Committee on Construction and Housing and Utilities Sergey Pakhomov noted that there is a lot of joint work to be done with the Government related to the modernization of the housing and utilities infrastructure. “In addition to choosing the vector of this process, we also need to strengthen the staffing. The industry already uses modern technologies, their implementation will be more widespread, but today there is no one to service the new equipment from both a methodological and practical point of view. Objectively, we need to strengthen the staff, since the housing and utilities industry has a profound impact on many related industries and on the economy of the country as a whole. And most importantly, the state of the industry affects the mood of our residents,” said Sergey Pakhomov.

According to Nikolai Shulginov, Chairman of the State Duma Committee on Energy, in order to improve the reliability of the electric grid complex, the committee ensured the adoption of Federal Law No. 185-FZ “On Amendments to the Federal Law “On Electric Power Industry” and Certain Legislative Acts of the Russian Federation”. It launches a mechanism for creating system-forming territorial grid organizations in each region of Russia, which become single centers of responsibility for the electricity supply of regions and the elimination of accidents on electric grids. “Taking into account law enforcement practice, we consider it appropriate for the Government and the Ministry of Energy of Russia to consider the issue of introducing a similar mechanism for “picking up” heat supply facilities with a high accident rate of regional and municipal owners by owners of heat generation facilities that have heat supply sources, main networks, loops on their balance sheets and operate efficiently,” said Nikolai Shulginov.

“We continue to actively prepare for the government hour, where during the meeting we will tell our colleagues from the deputy corps about the current national and federal projects, plans, challenges and new solutions aimed at improving the housing and utilities sector, including within the framework of the national project being formed “Infrastructure for Life”. In this part, the Ministry of Construction of Russia has organized work on promptly responding to emerging issues and developing solutions for the effective modernization of the utilities infrastructure and improving the quality of services provided. Thanks to the support of our President, we are preparing a new federal project “Modernization of Utilities Infrastructure”, which includes current and planned support measures,” noted the head of the Ministry of Construction Irek Faizullin.

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://government.ru/nevs/53008/

MIL OSI Russia News –

January 23, 2025
MIL-OSI: Old National Bank Recognized as 2024 Leading Disability Employer

Source: GlobeNewswire (MIL-OSI)

EVANSVILLE, Ind., Oct. 16, 2024 (GLOBE NEWSWIRE) — Honoring National Disability Employment Awareness Month in October, the National Organization on Disability (NOD) named Old National Bank as one of only 59 Leading Disability Employers for 2024. This recognition formally acknowledges companies with the highest performance in disability inclusion practices and policies, benchmarked against more than 200 participating organizations.

In its 10th year, the NOD Leading Disability Employer Seal spotlights the transformative contributions made by business leaders in promoting employment opportunities for individuals with disabilities. It also honors those organizations that prioritize diversity, equity and importantly, accessibility — setting a high standard for others to follow.

“We’re incredibly grateful to this group of exceptional companies for their unwavering commitment to disability inclusion,” said Beth Sirull, President and Chief Executive Officer, National Organization on Disability. “We believe that diversity fuels innovation and growth, and inclusive workplaces reduce costly employee turnover. These employers embody that vision in action. We applaud their efforts and investments to provide pathways to fulfilling careers for Americans with disabilities.”

Leading Disability Employer Seal recipients are determined based on data provided by companies on the NOD Employment Tracker™. The Tracker is the only free assessment tool that helps companies understand which employment practices correlate to improved talent outcomes related to hiring, retention and advancement of people with disabilities.

“Inviting diversity and activating our core value of inclusion are critical to our success. We are thrilled to be recognized for what we believe is a differentiator for our team members, clients and the communities we serve,” says Corliss Garner, Chief Diversity, Equity and Inclusion Officer, Old National Bank. “Our commitment to uplifting people with apparent and non-apparent disabilities promote an inclusive work environment that attracts talent and makes us stronger as an organization.”

ABOUT THE NATIONAL ORGANIZATION ON DISABILITY (NOD)
The National Organization on Disability (NOD) is a private, non-profit organization that seeks to increase employment opportunities for the 60% of working-age Americans with disabilities who are not employed. To achieve this goal, NOD offers a suite of employment solutions, tailored to anticipate and meet leading companies’ workforce needs. NOD has helped some of the world’s most recognized brands be more competitive in today’s global economy by building or enriching their disability inclusion programs. For more information about NOD and how its portfolio of professional services, Leadership Council and Employment Tracker™ can help your business, visit http://www.NOD.org.

ABOUT OLD NATIONAL
Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank. As the sixth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $53 billion of assets and $30 billion of assets under management, Old National ranks among the top 30 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2024, Points of Light named Old National one of “The Civic 50” — an honor reserved for the 50 most community-minded companies in the United States.

Investor Relations:
Lynell Durchholz
(812) 464-1366
lynell.durchholz@oldnational.com

Media Relations:
Rick Vach
(904) 535-9489
rick.vach@oldnational.com

The MIL Network –

January 23, 2025
MIL-OSI: As the CFPB tightens restrictions on medical debt collections, Navicore Solutions provides invaluable resources to consumers affected by medical debt

Source: GlobeNewswire (MIL-OSI)

MANALAPAN, N.J., Oct. 16, 2024 (GLOBE NEWSWIRE) — Approximately 14 million people (6% of adults) in the U.S. owe over $1,000 in medical debt according to health policy research group KFF. The CFPB (Consumer Financial Protection Bureau) stated that about 100 million Americans owe over $220 billion in medical debt, a problem that’s compounded by medical billing complexity and the third-party vendors many healthcare organizations employ to complete that billing.

Medical debt can be overwhelming, especially when compounded with other debt loads such as credit card debt. Navicore Solutions provides a vital resource for households, providing guidance and solutions to alleviate the stress of a spiraling financial situation.

“Medical billing is often riddled with errors, including inflated or duplicative charges, fees for services the patient never received, or charges already paid,” CFPB Director Rohit Chopra said in a statement earlier this month. “The CFPB is taking action to ensure that Americans are not unfairly chased by debt collectors over unsubstantiated or invalid medical bills.”

The CFPB is focusing on the regulation of third-party medical debt collection companies, the enforcement of the ‘No Surprises Act’ which ensures that healthcare consumers do not face unjustifiably high medical debts, and that consumers are not pursued for falsified or ‘up-coded’ medical procedures.

Across the United States, 14.3% of households are carrying medical debt with the aging Boomer generation holding the most medical debt with an average of $22,000 owed. The problem of medical debt is exacerbated across all generations when there is low or no medical insurance coverage, or a household includes an individual with a disability.

“Medical debt can strike anyone at any time, throwing a household into financial uncertainty,” said Diane Gray, Navicore’s Chief Operating Officer. “Navicore offers a lifeline to those seeking actionable steps to overcome growing medical debt.”

As the medical debt issue in America mounts, CFPB asserted that all entities involved in patient collections, including debt collectors and patients themselves, must be aware of the federal laws protecting consumers. Navicore Solutions provides a help to consumers in search of a path forward.

About Navicore Solutions

Founded in 1991, Navicore Solutions is a national leader in the field of nonprofit financial counseling with a mission to strengthen the well-being of individuals and families through education, guidance, advocacy, and support.

Navicore counselors provide a wide range of services including credit counseling to consumers in need; education programs through workshops, courses and written material; debt management plan to provide relief for applicable consumers; student loan counseling for those struggling with student loan debt; and housing counseling services in the areas of rental, pre-purchase, default and reverse mortgage. The agency is an advocate of financial education helping communities achieve and maintain financial stability.

Contact:
Lori Stratford
Digital Marketing Manager
Navicore Solutions
lstratford@navicoresolutions.org
navicoresolutions.org

The MIL Network –

January 23, 2025
MIL-OSI: Surgent Knowledge Summit Offers Premium CPE Courses for Accounting and Tax Professionals
Source: GlobeNewswire (MIL-OSI)

RADNOR, Pa., Oct. 16, 2024 (GLOBE NEWSWIRE) — Surgent Accounting & Financial Education, a division of KnowFully Learning Group, is excited to announce the inaugural Surgent Knowledge Summit, a series of exclusive, live events celebrating International Accounting Week. The Knowledge Summit will provide accounting and tax professionals with valuable, premium content designed to enhance their expertise and support their ongoing professional development.

This event will feature a variety of insightful sessions aimed at helping attendees earn essential continuing professional education (CPE) credits while staying up to date with the latest industry trends and practices.

“At Surgent, we believe that continuous learning is the key to staying competitive in today’s fast-paced accounting and tax landscape,” said Liz Kolar, executive vice president of Surgent. “The Surgent Knowledge Summit is our commitment to helping professionals not only meet their CPE requirements but also stay informed on the latest industry trends and technologies.”

The Surgent Knowledge Summit features sessions led by industry experts and covers critical topics like the future of financial reporting, the impacts of artificial intelligence (AI) on accounting, post-election tax policy changes and much more. Below is the calendar of events, showcasing the diverse range of sessions that will be held during the summit.

“The Surgent Knowledge Summit offers unparalleled access to exclusive content delivered by top industry experts,” Kolar said. “From the latest AI developments to crucial tax updates following the 2024 elections, our courses are designed to equip professionals with the knowledge and tools they need to thrive in this dynamic industry.”

Surgent Knowledge Summit Events

Thursday, Nov. 7

AICPA and Surgent Panel on the CPA Exam and State of the Industry
We kick off the summit with a free webinar at noon ET featuring a panel discussion on the CPA exam and the state of the accounting industry. Liz Kolar will join Mike Decker and Joe Maslott from the Association of International Certified Professional Accountants (AICPA) to discuss the recent CPA exam overhaul, industry trends and what lies ahead for 2025 and beyond.

Free Premium CPE: Weekly Expert Hour Webinar
Later that afternoon, join Washington insider Ken Kies and Surgent instructor Mike Tucker for Surgent CPE’s exclusive free Weekly Expert Hour on how the 2024 election results may shape tax policies. They will explore potential changes to tax legislation and expiring provisions of the Tax Cuts and Jobs Act. This premium CPE course will be held 2-3 p.m. ET and attendees will earn one CPE credit.

Tuesday, Nov. 12

Mark Your Calendars: Surgent’s Most Exciting Annual Event Is Coming!
In celebration of International Accounting Day Surgent will be offering its biggest sale of the year.

Tax Preparation for Accountants
Join Surgent Income Tax School at 3 p.m. ET for a free webinar: How Accounting Firms Can Increase Revenue with Tax Prep. Surgent’s team of industry experts will share strategies on using tax preparation services to boost revenue and client retention.

Wednesday, Nov. 13

The Surgent Knowledge Summit will kick into high gear with a day dedicated to the future of accounting and auditing with cutting-edge webinars, including:
- What A&A Pros Need to Know About Blockchain, Bitcoin, and Digital Assets (BBD2) with Jack Castonguay will explore the impact of blockchain, Bitcoin and digital assets on accounting practices. Attendees will learn about the regulatory challenges, reporting standards and key accounting complexities related to these emerging technologies. This course will be held 9-11 a.m. ET and attendees will earn two CPE credits.
- Innovating Accounting: The Impact of AI, Automation and Blockchain on Financial Reporting and Auditing (AAB1) with Eric Cohen, owner of Cohen Computer Consulting and co-founder of XBRL. This webinar will cover how AI, automation and blockchain are transforming financial reporting and audit. This course will be 11 a.m.-noon ET and attendees will earn one CPE credit.
- CFOs as Leaders of Organizational Change (CFO1) will feature a panel facilitated by Cory Ng, Surgent’s accounting and auditing content developer, and will include Avia Yudalevich and Landon Cortenbach, two leading CFOs from diverse industries. This program will discuss how CFOs are driving innovation and navigating economic challenges. This course will be held 1-2 p.m. ET and attendees will earn one CPE credit.
- The Threat and Opportunity to Accounting Posed by Generative AI and Other Emerging Technologies (GEN1) with Dr. Sean Stein Smith, associate professor at Lehman College; Jack Castonguay, Surgent vice president of learning and development; and James Madison University associate professor, Dr. Nicole Wright, will explore how AI and emerging technologies are reshaping audit functions by automating tasks like data analysis and fraud detection. It will also address challenges related to ethics, data security and the evolving role of auditors in the AI-driven landscape. This course will be held 2-3 p.m. ET and attendees will earn one CPE credit.
- Quarterly Update: The FASB, AICPA, SEC, and PCAOB (QFA2) with Jack Castonguay and Cory Ng will cover new FASB, SEC, and PCAOB standards. This session provides an overview of key updates from the FASB, SEC and PCAOB. Attendees will learn about recent changes to accounting standards and auditing regulations, including new standards and guidance, and their impact on financial reporting. This course will be held 3-5 p.m. ET and attendees will earn two CPE credits.
Thursday, Nov. 14

The Knowledge Summit continues with a day dedicated to the tax industry and how the 2024 presidential and congressional elections will impact the profession. Here is a rundown of the CPE webinars that Surgent has planned for the day:
- 2024 Tax Changes and Year-end Planning Opportunities (YT24) featuring Surgent instructor Mike Tucker; Shannon Retzke Smith, a partner in the international law firm Withers Bergman; and Lance Weiss, a CPA and member of SFW Partners, LLC in St. Louis; will cover the key 2024 tax law changes and their implications for year-end planning. Attendees will gain valuable insights into new tax strategies and opportunities to optimize their tax positions before the end of the year. This course will be held 9 a.m.-12:30 p.m. ET and attendees will earn four CPE credits.
- How Our Economy and Markets Perform in Election Years (ELY2) will feature David Peters, founder and owner of Peters Tax Preparation & Consulting in Richmond, Va., and financial advisor for Peters Financial, LLC. This course will look at the economic cycle and the effect of election years. It will examine how certain key investments have performed, examine why this year is unique and look at how major tax policy changes affect our economy. This course will be held 1-3 p.m. ET and attendees will earn two CPE credits.
- Post-election Coverage of Potential Tax Changes and Planning Strategies (PEL2) with Mike Tucker, Ken Kies, Lance Weiss and Ed Renn, of counsel at the international tax law firm Withers Bergman, will examine potential tax law changes following the recent election. This course will explore how shifts in tax policy may impact individuals and businesses, offering strategies to adapt and plan for potential legislative changes. Participants will learn to navigate the evolving tax landscape. This course will be held 3-5 p.m. ET and attendees will earn two CPE credits.
Friday, Nov. 15

Mock CPA Exam
The Surgent Knowledge Summit concludes with a free virtual mock CPA exam facilitated by Michael Matthews, director of state society partnerships at Surgent. This online event will allow CPA candidates to practice CPA exam questions, pinpoint their strengths and identify areas that need extra attention before their exam day. By simulating the actual exam, candidates will gain the confidence and insights needed to improve their performance. Plus, they will receive detailed feedback to guide them through their final stages of preparation. The mock exam will be at 3 p.m. ET and is open to the public.

About Surgent
Surgent Accounting & Financial Education, a division of KnowFully Learning Group, is a provider of the high-impact education experiences that accounting, tax and financial professionals need throughout their careers. For most of the company’s 35-year history, Surgent has been a trusted provider of the continuing professional education (CPE), continuing education (CE) and skill-based training that professionals need to maintain their credentials and stay current on industry changes. More recently, Surgent became one of the fastest-growing certification exam review providers, offering adaptive learning-based courses that help learners pass accounting and finance credentialing exams faster. Learn more at Surgent.com.

About KnowFully
KnowFully Learning Group provides continuing professional education, exam preparation courses and education resources to the accounting, finance and healthcare sectors. KnowFully’s suite of learning solutions helps learners become credentialed, satisfy required credit hours to maintain credentials, and stay informed on the latest trends and critical changes in their industries over the course of their careers. The company provides exam preparation and continuing education for accounting, finance and tax professionals under the Surgent Accounting & Financial Education brand. KnowFully’s healthcare education brands include CME Outfitters, CE Concepts, PharmCon, The Rx Consultant, ChiroCredit, IA Med, EMT & Fire Training Inc., Psychotherapy.net and American Fitness Professionals & Associates. For more information, please visit KnowFully.com.

SOURCE: Surgent Accounting & Financial Education

Contact:
marketing@surgent.com

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/697a0e4f-d78c-414e-8545-08e12377070c

The MIL Network –
January 23, 2025
MIL-OSI Banking: Fannie Mae Forgoes Issuing Benchmark Notes on October 16, 2024 Announcement Date

Source: Fannie Mae

About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
fanniemae.com | X (formerly Twitter) | Facebook | LinkedIn | Instagram | YouTube | Blog

Media Contact
Christopher Davis
202-752-7724

Fannie Mae Newsroom
https://www.fanniemae.com/news

Photo of Fannie Mae
https://www.fanniemae.com/resources/img/about-fm/fm-building.tif

Fannie Mae Resource Center
1-800-2FANNIE

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of Fannie Mae. Nothing in this press release constitutes advice on the merits of buying or selling a particular investment. Any investment decision as to any purchase of securities referred to herein must be made solely on the basis of information contained in Fannie Mae’s applicable Offering Circular, and no reliance may be placed on the completeness or accuracy of the information contained in this press release.

You should not deal in securities unless you understand their nature and the extent of your exposure to risk. You should be satisfied that they are suitable for you in light of your circumstances and financial position. If you are in any doubt you should consult an appropriately qualified financial advisor.

Benchmark Notes and Benchmark Securities are registered trademarks of Fannie Mae. Unauthorized use of these trademarks is prohibited.

MIL OSI Global Banks –

January 23, 2025
MIL-OSI: Mountain America Named a Top Workplace by The Salt Lake Tribune

Source: GlobeNewswire (MIL-OSI)

SANDY, Utah, Oct. 16, 2024 (GLOBE NEWSWIRE) — Mountain America Credit Union has been ranked 4th out of 154 workplaces and is the highest-ranked financial institution to receive a Top Workplaces 2024 honor by The Salt Lake Tribune. This award is based on feedback from employees, collected through Energage, an independent employee engagement technology partner. The Salt Lake Tribune recently announced the rankings.

“Achieving the Top Workplace status for 2024 is a testament to the dedication and enthusiasm of our teams,” said Trent Savage, chief human resources officer at Mountain America. “We are committed to creating a workplace where team members feel valued and motivated. This award reflects our efforts to foster a culture of growth and development.”

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

Mountain America is committed to maintaining a high-quality workplace culture by emphasizing collaboration, innovation, and service excellence. This recognition showcases the dedication of our team members and their commitment to making the credit union an exceptional place to work.

“This award is a tribute to our dedicated team members who are the heart of Mountain America,” said Sterling Nielsen, president and chief executive officer at Mountain America. “Their feedback drives our continuous improvement and commitment to creating a workplace where everyone feels respected, supported, and empowered to succeed.”

The 2024 Salt Lake Tribune Top Workplaces award is based entirely on feedback from an employee engagement survey. The confidential survey measures various aspects of the employee experience, including respect, support, growth opportunities, and empowerment.

For more information about Top Workplaces, please visit https://topworkplaces.sltrib.com/

About Mountain America Credit Union
With more than 1 million members and $19 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with various convenient, flexible products and services and sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across six states, and over 50,000 surcharge-free ATMs. Mountain America—guiding you forward. Learn more at macu.com. 

Contact: publicrelations@macu.com, macu.com/newsroom

The MIL Network –

January 23, 2025
MIL-OSI USA: ICYMI: AG Platkin, Division of Consumer Affairs Announce New Rules Aimed at Promoting Greater Transparency in Prescription Drug Pricing, Including How and Why Prices Are Increased
Source: US State of New Jersey

TRENTON – Advancing the Murphy Administration’s efforts to rein in the high cost of prescription drugs in New Jersey, Attorney General Matthew J. Platkin and the Division of Consumer Affairs (“Division”) today announced specially adopted new rules promoting greater transparency in prescription drug pricing.

The new rules, which became effective upon acceptance for filing by the Office of Administrative Law yesterday, implement P.L. 2023, c. 106, signed into law by Governor Murphy in July 2023 as part of a legislative package to combat the rising costs of prescription drugs in the state.

“The high cost of prescription drugs is a financial burden that disproportionately impacts the health and well-being of the most vulnerable among us: low-income families, the elderly, the uninsured, and people with disabilities,” said Attorney General Matthew J. Platkin. “Until now, we’ve been kept in the dark about the main drivers of high prescription drug costs. The new rules allow us to gain greater insight into prescription drug pricing and a better understanding of how we can help advance the goal of prescription drug affordability and accessibility.”

The new rules establish registration, reporting, and compliance requirements for five entities across the prescription drug supply chain—manufacturers, insurance carriers, pharmacy benefits managers, wholesalers and pharmacy services administrative organizations. The entities will be required to provide the Division with information and data pertaining to drugs with significant price increases or high launch prices and other drugs of interest. The Division will then use this information to produce an annual report on emerging trends in prescription drug prices. The report, which will be posted on the Division’s newly created prescription drug pricing webpage, will also be used to help the newly created Drug Affordability Council formulate legislative and regulatory policy recommendations focused on prescription drug affordability.

“Establishing rules for the collection, analysis, and reporting of information that sheds light on drug pricing is integral to the Division’s core mission of ensuring fairness and transparency in the market for goods and services,” said Cari Fais, Acting Director of the Division of Consumer Affairs. “The information we collect will help us identify factors that contribute to the high cost of prescription drugs and improve oversight of the drug industry to the benefit of New Jersey consumers.”

Under the new rules:
- Manufacturers must notify the Division of price increases and new drugs that meet statutory price thresholds, and then report more detailed information on those drugs to the Division;
- Carriers must report to the Division information on spending for the top 25 prescription drugs and drug groups in certain categories;
- Pharmacy Services Administrative Organizations (PSAOs) must report negotiated reimbursement rates to the Division; and
- Wholesalers and Pharmacy Benefits Managers must provide pricing, volume, and discount information for drugs and drug groups identified by the Division as a result of the information provided by the manufacturers, carriers, and PSAOs.
The specially adopted new rules shall be effective for a period not to exceed 545 days from the date of filing. Concurrently, the provisions of the new rules will be proposed for readoption and published in the NJ Register on November 18, 2024, in accordance with the normal rulemaking requirements of the Administrative Procedure Act, N.J.S.A. 52:14B-1 et seq.

MIL OSI USA News –
January 23, 2025

MIL-OSI: BOUSSARD AND GAVAUDAN HOLDING LIMITED (GBP) – Final NAV

Source: GlobeNewswire (MIL-OSI)

BOUSSARD & GAVAUDAN HOLDING LIMITED
Ordinary Shares

The Directors of Boussard & Gavaudan Holding Limited would like to announce the following information for the Company.

Close of business 30/09/2024.

Final NAV

	Euro Shares	Sterling Shares
Final NAV	€ 28.3678	£ 25.4989
Final MTD return	-1.23 %	-0.89 %
Final YTD return	2.98 %	3.78 %
Final ITD return	183.68 %	154.99 %

NAV and returns are calculated net of management and performance fees

For further information please contact:

Boussard & Gavaudan Investment Management, LLP.
Emmanuel Gavaudan +44 (0) 20 3751 5389 Email : info@bgam-uk.com

The Company is established as a closed-ended investment company domiciled in Guernsey. The Company has received the necessary approval of the Guernsey Financial Services Commission and the States of Guernsey Policy Council. The Company is registered with the Dutch Authority for the Financial Markets as a collective investment scheme pursuant to article 2:73 in conjunction with 2:66 of the Dutch Financial Supervision Act (Wet op het financieel toezicht). The shares of the Company (the “Shares”) are listed on Euronext Amsterdam. The Shares are also listed on the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange plc’s main market for listed securities.

This is not an offer to sell or a solicitation of any offer to buy any securities in the United States or in any other jurisdiction. This announcement is not intended to and does not constitute, or form part of, any offer or invitation to purchase any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of the securities referred to in this announcement in any jurisdiction in contravention of applicable law.

Neither the Company nor BG Fund ICAV has been, and neither will be, registered under the US Investment Company Act of 1940, as amended (the “Investment Company Act”). In addition the securities referenced in this announcement have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”). Consequently any such securities may not be offered, sold or otherwise transferred within the United States or to, or for the account or benefit of, US persons except in accordance with the Securities Act or an exemption therefrom and under circumstances which will not require the issuer of such securities to register under the Investment Company Act. No public offering of any securities will be made in the United States.

You should always bear in mind that:

all investment is subject to risk;
results in the past are no guarantee of future results;
the investment performance of BGHL may go down as well as up. You may not get back all of your original investment; and
if you are in any doubt about the contents of this communication or if you consider making an investment decision, you are advised to seek expert financial advice.

This communication is for information purposes only and the information contained in this communication should not be relied upon as a substitute for financial or other professional advice.

Attachment

BGHL – Final NAV 09.30.24

The MIL Network –

January 23, 2025

MIL-OSI: WENDEL: Wendel completes the acquisition of c.50% of Globeducate, a leading international K-12 education group
Source: GlobeNewswire (MIL-OSI)

PRESS RELEASE – OCTOBER 16, 2024

Wendel completes the acquisition of c.50% of Globeducate, a leading international K-12 education group

Wendel (Euronext: MF.FP) has completed the acquisition of c.50% of Globeducate, one of the world’s leading international K-12 education groups, from Providence Equity Partners, (“Providence”), a premier private equity firm specializing in growth-oriented investments in media, communications, education and technology.

Wendel invested €625 million of equity, at an Enterprise Value of c.€2 billion¹, to join Providence, which has been the Globeducate reference shareholder since 2017, and both firms will now own c.50% of the group.

Founded in 1972 in Spain, Globeducate provides K-12 (primary and secondary) education through a network of 67 premium bilingual and international schools, as well as online programs, across 11 countries mostly in Europe. The Group employs more than 6,000 people, including 4,000 highly qualified teachers.

Globeducate schools provide more than 40,000 students with a world-class education adhering to high academic standards. Globeducate students representing a wide range of backgrounds, benefit from a comprehensive and innovative educational experience – as well as first-class pastoral care – to prepare them to become ‘global citizens who can shape the world’. Many students achieve top grades and are typically accepted into higher education programmes at 50 of the world’s top 100 universities. School facilities are modern and well-appointed, having benefited from significant investment in recent years. Importantly, Globeducate aligns closely with Wendel’s strategy and values.

Providence has been the majority shareholder of Globeducate since 2017. Under Providence’s ownership, Globeducate has delivered double-digit average annual revenue growth through a combination of organic growth new developments, and accretive external growth, with 23 international accretive acquisitions completed over the period and opportunities in the pipeline.

Globeducate is expected to achieve revenue² of c.€440 million, c.80% of which would be generated in Europe, and EBITDA³ of c.€120 million in its financial year ending August 2025.

Agenda

Thursday, October 24, 2024

Q3 2024 Trading update – Publication of NAV as of September 30, 2024 (post-market release)

Thursday, December 6, 2024,

2024 Investor Day.

Wednesday, February 26, 2025

Full-Year 2024 Results – Publication of NAV as of December 31, 2024, and Full-Year consolidated financial statements (post-market release)

Thursday, April 24, 2025

Q1 2025 Trading update – Publication of NAV as of March 31, 2025 (post-market release)

Thursday, May 15, 2025

Annual General Meeting

Wednesday, July 30, 2025

H1 2025 results – Publication of NAV as of June 30, 2025, and condensed Half-Year consolidated financial statements (post-market release)

1 EV including IFRS 16 impacts. Excluding IFRS 16, EV stands at c.€1.86 billion.

2 Including ongoing acquisitions under exclusivity (c.€25 million).

3 Including ongoing acquisitions under exclusivity (c.€9 million). Including IFRS 16 impacts. EBITDA excluding IFRS 16 impacts stands at c.€96m.

Attachment
- Closing Globeducate_10.16.2024
The MIL Network –
January 23, 2025

MIL-OSI: BOUSSARD AND GAVAUDAN HOLDING LIMITED (EUR) – Final NAV

Source: GlobeNewswire (MIL-OSI)

BOUSSARD & GAVAUDAN HOLDING LIMITED
Ordinary Shares

The Directors of Boussard & Gavaudan Holding Limited would like to announce the following information for the Company.

Close of business 30/09/2024.

Final NAV

	Euro Shares	Sterling Shares
Final NAV	€ 28.3678	£ 25.4989
Final MTD return	-1.23 %	-0.89 %
Final YTD return	2.98 %	3.78 %
Final ITD return	183.68 %	154.99 %

NAV and returns are calculated net of management and performance fees

For further information please contact:

Boussard & Gavaudan Investment Management, LLP.
Emmanuel Gavaudan +44 (0) 20 3751 5389 Email : info@bgam-uk.com

You should always bear in mind that:

all investment is subject to risk;
results in the past are no guarantee of future results;
the investment performance of BGHL may go down as well as up. You may not get back all of your original investment; and
if you are in any doubt about the contents of this communication or if you consider making an investment decision, you are advised to seek expert financial advice.

This communication is for information purposes only and the information contained in this communication should not be relied upon as a substitute for financial or other professional advice.

Attachment

BGHL – Final NAV 09.30.24

The MIL Network –

January 23, 2025

MIL-OSI: Bitget Wallet Becomes The Second Most Downloaded App Closing in on Binance

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Oct. 16, 2024 (GLOBE NEWSWIRE) — Bitget Wallet, the leading Web3 non-custodial wallet, has seen nearly 6 million app downloads in September, becoming the second most downloaded crypto app worldwide trailing Binance and surpassing the majority of Web3 wallets and crypto exchanges in new user adoption. Bitget Wallet has also announced the milestone of surpassing 40 million users globally, increasing over 100% since March 2024. This significant growth positions Bitget Wallet as the fastest-growing decentralized wallet this year, and shows the growing demand for decentralized solutions, positioning them as primary entry points into Web3.

Key Drivers Behind Explosive Growth

Several key factors have fueled Bitget Wallet’s impressive growth. Its intuitive user interface and robust product features make decentralized finance accessible, particularly for first-time crypto users. The wallet seamlessly integrates all of Web3 in one app—including asset management, swaps, launchpads, crypto trading, staking, and a DApp explorer—into a single platform. A pivotal aspect of its growth this year has been the integration with TON ecosystem and Telegram, which has facilitated user access to wallet services directly within the popular messaging platform, bridging Web2 users into Web3. In Q3 alone, the wallet saw an incredible 4886% growth in TON onchain addresses. Additionally, Bitget Wallet has gained significant traction in emerging markets, allowing for a smooth onboarding experience for new users entering crypto space. Notably, Bitget Wallet saw the strongest user growth in Q3 recorded in regions like Africa with a staggering 413% increase, followed by South Asia at 126% and the Middle-East at 105%.

Decentralized Wallets: The Future Gateway to Web3

Bitget Wallet’s rapid expansion signifies a broader trend in the industry: decentralized wallets are emerging as essential gateways to Web3, increasingly competing with centralized exchanges in terms of user base and functionality. More wallets are now working directly with Web2 platforms, such as payment solutions and social messaging apps, to increase the usability of tokens directly from self-custodial wallets. However, the Web3 landscape still faces challenges, particularly in terms of user retention. While onboarding has become easier, retaining users within decentralized ecosystems can be difficult due to limited real-world use cases and complex user interfaces. Therefore, it is critical to develop user-friendly applications and facilitate seamless interactions to ensure long-term engagement in this evolving digital landscape.

Seamless Integration of All Web3 Services in One App

Since its founding in 2018, Bitget Wallet has established itself as a comprehensive Web3 hub. It supports 100+ blockchains, 20,000+ DApps and millions of tokens onchain, positioning it among the largest decentralized marketplaces. The wallet’s seamless swap feature allows for fast and cost-effective token exchanges, sourcing the best prices by aggregating liquidity from 100+ DEXes. In Q3, swap activity on Bitget Wallet grew 125%, while DApp activities increased 128%, and token transfers jumped by 175%, reflecting the rising adoption of decentralized financial services. Furthermore, its advanced tools—including full candlestick charts, Smart Money Alerts and hot token discovery—provide users with real-time, in-depth market insights to make informed trading decisions. With a focus on security, Bitget Wallet includes features such as keyless MPC wallet, on-chain fund tracking, and a $300 million user protection fund, ensuring a safe and user-friendly experience.

A Vision for the Future of Web3

Alvin Kan, COO of Bitget Wallet, remarked, “Surpassing 40 million users is a testament to our vision of making crypto accessible to everyone, everywhere. Bitget Wallet registered nearly 6 million downloads in a month, closing in on top exchanges signaling that decentralized wallets are catching up with centralized platforms, and we’re excited to be leading this shift. Our mission is clear: to provide a secure and user-friendly gateway to Web3 for the next billion users.” He added, “The future of Web3 depends on how effectively we bridge the gap between Web2 and Web3. By integrating with platforms like Telegram, we’re simplifying crypto adoption for mainstream users and creating tools that enable seamless interaction with decentralized platforms. Decentralized wallets will evolve to serve as one of the primary entry points for billions of new users exploring Web3 for the first time.”

About Bitget Wallet

Bitget Wallet stands as one of the world’s leading non-custodial Web3 wallets and decentralized ecosystem platform. With the Bitget Onchain Layer, the wallet is well-poised to develop a burgeoning DeFi ecosystem through co-creation and strategic incubation. Aside from a powerful Swap function, Bitget Wallet also offers multi-chain asset management, smart money insights, a native Launchpad, Inscriptions Center, and an Earning Center. Supporting over 100 major blockchains, 500,000+ tokens, and a wide array of DApps, Bitget Wallet is your top wallet for asset discovery and Web3 exploration.

For more information, visit: Website | Twitter | Telegram | Discord

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/6a37bd8e-f170-43d7-8fa3-eb6f0cbf64da

https://www.globenewswire.com/NewsRoom/AttachmentNg/3f73fa7d-5f9f-4607-9f22-0dae149abbb4

The MIL Network –

January 23, 2025
MIL-OSI USA: Rep. Smith Sends Letter Urging Contract Negotiations Between Boeing and International Association of Machinists and Aerospace Workers

Source: United States House of Representatives – Congressman Adam Smith (9th District of Washington)

WASHINGTON, D.C. – Yesterday, Representative Adam Smith (D-Wash), alongside Representative Rick Larsen (D-Wash), Senator Maria Cantwell (D-Wash), and Senator Patty Murray (D-Wash), sent a letter to Boeing President and CEO Kelly Ortberg, IAM District W24 President Brandon Bryant, and IAM District 751 President Joe Holden urging further contract negotiations between their organizations.

See the full letter below.

Dear Mr. Ortberg, Mr. Holden, and Mr. Bryant:

We are writing about the contract negotiations between the Boeing Company and the International Association of Machinists and Aerospace Workers (1AM) Districts 751 and W24. With the machinist strike now lasting well over a month, and with no further talks currently scheduled, we urge you to redouble your efforts to reach a mutually beneficial resolution.

With over 42,000 single-aisle and wide body commercial aircraft projected to be manufactured over the next twenty years, valued at $8 trillion, now is the time to rebuild the historic partnership between management and workers in order to restore Boeing’s reputation for engineering and manufacturing excellence. This will require investing in next generation manufacturing techniques, innovative new materials, and providing workers with wages and benefits that acknowledge the essential and irreplaceable work they perform for the Company.

1AM 751 and W24 represent a vital workforce in the Pacific Northwest and for nearly a century have made it possible for Boeing to produce aircraft that fly millions of passengers each day, connecting communities and economies around the world. With these contributions in mind, we hope you will expeditiously work out a fair and durable deal that recognizes the importance of the machinist workforce to Boeing’s future, the aerospace economy of the Pacific Northwest, and the nation.

Thank you for your attention to this matter, we look forward to your timely response.

A full copy of the letter can be found at the link above.

MIL OSI USA News –

January 23, 2025
MIL-OSI Global: Three ways the upcoming UN biodiversity summit could make a difference

Source: The Conversation – UK – By Harriet Bulkeley, Professor of Geography, Durham University

Projects on the Indus River in Pakistan are helping to tackle biodiversity loss. Salik Javed/Shutterstock

When negotiations at Cop15 – the UN’s biodiversity conference – ended in December 2022, many delegates breathed a sigh of relief.

Threatening snowstorms outside the convention centre in Montreal, Canada seemed to lift just as the political weather changed and the long-awaited Kunming-Montreal global biodiversity framework was agreed. It’s mission: to halt and reverse biodiversity loss by 2030 in order to achieve the ultimate goal of a society living in harmony with nature by 2050.

Fast forward two years and governments, businesses, representatives of Indigenous people and local communities, experts from environmental groups such as the World Wildlife Fund (WWF) and scientists will gather for the follow-up Cop16 meeting in Cali, Colombia, from October 21. Many due to attend, including myself, wonder whether the promise made to “halt and reverse biodiversity loss by 2030” is achievable.

Initial signs are not promising. For starters, no international targets for biodiversity have ever been met.

Only a handful of countries, including China, Canada and France, have submitted new national biodiversity plans demonstrating how they will implement the promises made two years ago. Most countries, including the UK, (that’s more than 80% in total) haven’t submitted their full plans.

Countries can also submit updates for the 23 targets listed in the framework. The UK and others have submitted targets such as promising to reduce the impact of pollution on nature and ensuring that 30% of land is effectively protected in line with the framework.

But crucial questions remain about how those goals will be reached. To make Cop16 effective, three things need to happen.

1. Decide on a plan

When delegates gather in Cali, questions of implementation will be front and centre of the negotiations. The first challenge is that the approach for monitoring progress on all 23 targets – including issues such as improving access to nature in cities, reducing harmful subsidies and restoring 30% of degraded ecosystems – is yet to be agreed.

For some, the approach that has been developed so far lacks ambition in crucial areas. Indicators suggested for monitoring progress on reducing the impacts of consumption on nature remain very weak for example. For others, it may prove too challenging.

For example, countries with limited access to data might not be able to track alien species or assess how critical services provided by nature to make societies more resilient might be affected by climate change. Getting agreement at the Cop16 negotiations will be vital in order to hold countries to account as the 2030 deadline set to achieve all of the targets approaches.

2. Find the funds

Another crucial issue is funding: who will pay for the action required? The global biodiversity framework fund (GBFF) was established in 2023 to provide financial support.

Yet so far, it has only attracted contributions of around US$230 billion (£176 billion) from a small group of countries including Canada, the UK, Germany, Japan and Spain. Leaders gathering in Cali, and especially those from developing countries, are calling for more funding and for greater control over how it is allocated.

The next UN biodiversity conference will be held in Cali, Columbia from October 21 to November 1.
Tudoran Andrei/Shutterstock

3. Make biodiversity matter

A third debate will decide how best to ensure that biodiversity action is mainstreamed across governments, businesses and communities.

In Montreal, countries agreed to make sure that the impacts on nature were considered across different policy areas (such as building new roads or developing new energy sources) and in economic sectors, from fishing to agriculture and mining to tech.

They agreed that groups most likely to be affected by the loss of nature, including Indigenous people and local communities, women and youth, should help make key decisions. While targets such as protecting 30% of the land and sea for nature are crucial, progress will only happen if nature is put on everyone’s bottom line.

Delivering real change

The urgent need for action is not lost on delegates gathering in Cali. There is a real risk that the promise countries made in Montreal to deliver “transformative action by governments, and regional and local authorities, with the involvement of all of society” won’t be met.

But there are some hopeful signs of transformative change to conserve and restore nature and ensure its sustainable use.

Take, for example, the Tree Equity Partnership in Detroit, US. This partnership between the city, US-based charity American Forests and the local non-profit charity Greening of Detroit aims to plant 75,000 trees. This will create places of beauty, biodiversity and climate resilience in underserved neighbourhoods and generate 300 new jobs in the city.

In Pakistan, the Living Indus initiative is an umbrella organisation that has identified 25 projects involving local and regional governments, businesses and communities working together to restore the ecological health of the Indus river.

Businesses are also calling for real change. More than 170 investors have signed a pledge developed by a coalition of financial institutions called the Finance for Biodiversity Foundation to take action for nature across their portfolios.

New science-based standards are being developed to drive the mainstreaming of biodiversity action through their companies and associated supply chains. Cop16 is expected to see increased interest from the private sector and a focus on tackling climate change and biodiversity together.

These projects are successfully tackling the root causes of global biodiversity loss. They integrate solutions and deal with social and environmental issues – poverty and exploitation, climate risks and land use change. Tackling these problems is just as vital as the need for sustainable production and consumption plus investment that works for, not against, nature.

Projects such as these are the ones that give scientists and conservationists like me – and organisations like WWF that I work with – hope. We want to see more projects that take action on nature, climate and social justice together. If Cop16 can make even a small step in this direction, the world will be travelling towards making real progress by the end of this decade.

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

Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 35,000+ readers who’ve subscribed so far.

Harriet Bulkeley receives funding from the European Commission and currently serves as an advisor to the UK Department of Environment, Food and Rural Affairs.

– ref. Three ways the upcoming UN biodiversity summit could make a difference – https://theconversation.com/three-ways-the-upcoming-un-biodiversity-summit-could-make-a-difference-240225

MIL OSI – Global Reports –

January 23, 2025
MIL-OSI Global: Behavioural science: could supermarket loyalty cards nudge us to make healthier choices?

Source: The Conversation – UK – By Magda Osman, Professor of Policy Impact, University of Leeds

Prostock-studio/Shutterstock

Ken Murphy, CEO of the British multinational supermarket chain Tesco, recently said at a conference that Tesco “could use Clubcard data to nudge customers towards healthier choices”.

So how would this work, and do we want it? Our recent study, published in the Scientific Journal of Research and Reviews, provides an answer.

Loyalty schemes have been around as far back as the 1980s, with the introduction of airlines’ frequent flyer programmes.

Advancements in loyalty schemes have been huge, with some even using gamified approaches, such as leaderboards, trophies and treasure hunts, to keep us engaged. The loyalty principle relies on a form of social exchange, namely reciprocity.

The ongoing reciprocal relationship means that we use a good or service regularly because we trust the service provider, we are satisfied with the service, and we deem the rewards we get as reasonable – be they discounts, vouchers or gifts.

In exchange, we accept that, in many cases, loyalty schemes collect data on us. Our purchasing history, often tied to our demographics, generates improvements in the delivery of the service.

If we accept this, then we continue to benefit from reward schemes, such as promotional offers or other discounts. The effectiveness depends not only on making attractive offers to us for things we are interested in purchasing, but also other discounted items that we hadn’t considered buying.

Does it work?

So is this the future? The first issue is whether we’re happy to have data collected on us. There is a trade-off between the level of personalisation we want, and the amount of data we are willing to give. Research has shown that the more personalised the schemes are, the more alarmed we are about the crossing of privacy boundaries. For example, many of us dislike tailored communication about services through the use of chatbots.

The second, related point is that loyalty scheme data is, and will continue to be, of enormous value to third-party organisations. For instance, market research can use loyalty scheme data to track consumer trends more accurately. Researchers can use the data to make inferences about health-related behaviour.

As valuable as the data from loyalty schemes is for scientific purposes, not all shoppers are happy with having their data shared in this way. In one 2023 survey conducted by Yasemin Hirst from Lancaster University and colleagues of 1,539 people, 39% said they were unwilling to share their personal data with academic institutions, while 56.9% didn’t want to share with private organisations.

What data people were willing to share also varied: for example, people were happier sharing loyalty card data (51.8%) than social media data (30.4%) for research purposes. In general, people worried about privacy as well as misuses of their data.

All of this points to data privacy and permission being needed for sharing personal data with third-party advertisers and data brokers for people shopping online.

Tesco may try to nudge us towards healthier choices.
Steve Travelguide/Shutterstock

The final aspect is what the data reveals. Data from loyalty schemes does not present a complete picture of a shopper. We mix and match where we buy our food because of our budget and our geographical location. And some retailers have greater coverage and delivery in rural areas than others – further influencing our behaviour.

This also means that our degree of loyalty provides only a partial picture of what we end up buying, and how healthy our habits are.

New research

In our recent research, Sarah Jenkins and I conducted a study to look at issues related to what Murphy had in mind. We asked 389 people to evaluate ways their grocery shopping behaviour could be influenced.

We looked at three categories. One included financial incentives and discount offers. The second was classic “nudging” methods, such as labelling healthy or green options, campaigns or education schemes.

Finally, we looked at technological incentives that could be implemented via smart phones or laptops when making online purchases. For example, there could be suggestions as to nutritional choices, or an automated system that would select only healthy food choices. Alternatively, the system could score your shopping choice according to how healthy they were.

People assessed all of these options in terms of whether they could help boost healthy and green choices. Generally, participants preferred the financial methods overall, specifically discounts on healthy food options (44.7%). They also judged taxes on unhealthy food items as effective.

Campaigns for sustainability (6.3%) and automated choices for sustainability (6.5%), such as online shopping algorithms only offering us sustainable options, were least preferred. One possible reason for this might be a lack of understanding of what sustainability actually means.

Behavioural and financial methods were judged to be slightly more ethical than technological methods, though most people found all options fairly ethical.

That said, techniques to nudge people’s behaviour in the right direction don’t always work. People like or dislike them depending on a mix of factors, including whether it seems effective, whether it is ethical and whether they actually have a desire to change their behaviour.

Future options

Across the different ways market researchers study our shopping trends, the same pattern emerges: about 25% of the time, we buy our groceries online. The precise percentage varies by country and by foodstuffs we buy, but in general the forecasts is that it will increase to about 45% in the next 5-10 years.

This will mean further innovations in loyalty schemes, designed both to attract new customers as well as maintain the current base. Retailers therefore need to be aware of the shortcomings of such approaches, including that they don’t work on people who don’t want to change their behaviour, that they only provide limited information, and that there may be a point where services are so personalised that many people become unwilling to share their data.

Some of us will continue to enjoy the benefits of these schemes, so long as we have the chance to exercise choice. Indeed, some want to have suggestions made that ease the selection of healthy or sustainable options, but others don’t. What matters is having a choice.

Magda Osman receives funding from ESRC, Research England, British Academy, EPSRC, Food Standards Agency.

– ref. Behavioural science: could supermarket loyalty cards nudge us to make healthier choices? – https://theconversation.com/behavioural-science-could-supermarket-loyalty-cards-nudge-us-to-make-healthier-choices-241283

MIL OSI – Global Reports –

January 23, 2025
MIL-OSI Economics: Narrowing the Digital Divide: Households with broadband, laptops and desktops rising
Source: Microsoft

Headline: Narrowing the Digital Divide: Households with broadband, laptops and desktops rising

Today, we’re launching a refresh of the Microsoft Digital Equity Data Dashboard with current data from the FCC, the United States Census Bureau, Code.org, Broadband Now, and Microsoft to help federal, state, and local policymakers gain a better understanding of the factors contributing to the digital divide in communities across the United States. Originally launched in 2022 as part of our Airband Initiative, the dashboard provides critical data to help understand broadband gaps at the local level, allowing these decision makers to anchor their policies and programs in data and maximize investments in areas of highest need.

Today’s update allows tracking of historical broadband data to analyze trends and progress being made as a result of government and private sector investments. This includes the new data from the dashboard, which shows that all states, including Puerto Rico and the District of Columbia, saw an increase in the number of households with broadband connections as well as an increase in the number of households with laptops or desktops. The greatest changes were in households earning less than $20,000. These households saw an average increase of over 10.8 percentage points in internet connectivity compared to previous metrics, meaning there are nearly 325,000 more households connected in this group.

We’ve long held the belief in the value of data, and this dashboard refresh is the latest step in our ongoing journey to help close the digital divide around the world.

Bridging the Rural Broadband Gap in the United States

In 2017, we launched the Microsoft Airband Initiative with a clear mission: to bridge the significant rural broadband gap in the United States. That year, government data showed that at least 23.4 million people across the United States did not have access to reliable high-speed internet, and this lack of access created significant barriers to education, healthcare, and economic opportunities. At the same time, it’s been shown that increasing access and usage of broadband in rural areas leads to higher property values, increased job and population growth, increased entrepreneurship, and lower unemployment rates. This stark reality illustrated by this data highlighted the urgent need for action to bridge the digital divide. 

We set out to help solve the problem by bringing private sector investment and innovative technologies together with advocacy for regulatory support and financial frameworks to increase connectivity. Over the years, we have tried different approaches to bridging the digital divide, and we’ve learned a lot. We initially focused on TV White Spaces, believing this unique technology would extend reliable and affordable broadband to rural areas. As time went on, we determined that to make a tangible impact in rural communities, we couldn’t rely on specific technology, so we shifted to a technology neutral approach. Today, our partners are leveraging fiber, fixed wireless, satellite, and other disruptive technologies to drive broad networks deeper into rural areas. As a result, our partners have extended coverage to over 7.4 million people in rural communities across 41 states and territories in the United States.

But technology alone was not a solution. High costs, the absence of new and alternative technologies, and market and regulatory conditions all hampered efforts. The economic impact was substantial, not only hindering individual progress but also stifling the overall development of rural areas. So, we also used our corporate voice and joined forces with others to directly advocate for Congress to deploy targeted funding to combat the digital divide.

Targeted Funding to Combat the Digital Divide

In the U.S., none of the progress we’ve seen would be possible, without the vision of the U.S. Congress to proactively and significantly invest in broadband infrastructure programs. Our experiences since 2017 have made it clear that these government investments are necessary to drive deep impact. Bipartisan investments in digital infrastructure and inclusion through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the American Rescue Plan Act (ARPA), and the Infrastructure Investment and Jobs Act (IIJA) were a huge step forward in our journey to close the digital divide in the United States.

As a result of these government investments and public private partnerships, our internet service provider partners in the U.S. have received more than $725 million in government infrastructure funding awards to accelerate network expansion and drive broadband adoption across the country, with approximately 80% going to rural communities.

An example includes Microsoft partner, Nextlink Internet, which is leveraging government investment and partnership to bring meaningful connectivity to rural communities in the Midwest, Southwest, and Southeast regions of the United States. Federal infrastructure funding enabled Nextlink to extend their seven-state footprint to 11 states in total: Indiana, Illinois, Iowa, Kansas, Louisiana, Minnesota, Nebraska, Oklahoma, Texas, Wisconsin, and Wyoming.  

Looking Forward Globally with a Clear Vision

Outside of the United States, our global partnerships have brought coverage to nearly 100 million previously unserved and underserved people. Internationally, we’re also seeing success from similar models of participating in government infrastructure programs, with the U.S. government leading the way. This includes significant investments and leadership from the United States Agency for International Development (USAID) via the Digital Invest program and the Women in the Digital Economy Fund (Wi-DEF), as well as the United States Trade and Development Agency’s (USTDA) Digital Transformation with Africa initiative.

These partnerships have also enabled digital infrastructure and off-grid energy in unserved and underserved communities around the world. In Nigeria, for instance, providers like Tizeti are leveraging government investments to bring connectivity to schools, health clinics, and community anchor institutions. And communities are experiencing improved outcomes in education and healthcare as a result. If connectivity alone has enabled these outcomes, imagine what additional innovation AI could unlock.

But there are still 2.6 billion people who remain offline. Limited internet can exacerbate economic inequalities and inhibit access to social services, civic activities, and online learning resources. In places where we’re using AI to map global populations in real-time, we can provide early warnings that allow communities to better plan disaster recovery during times of crisis. Communities that remain offline do not get these early warnings and cannot act on them. As AI becomes more prevalent, communities that remain offline will not be able to fully access the benefits of this new technology.

To continue momentum, we are looking to the lessons we learned in the U.S. We must scale innovative technologies, expand connectivity and energy access, and leverage strategic partnerships. Governments, financial institutions, philanthropic institutions, and the private sector must come together to address critical financing barriers, invest in development finance, and expand digital infrastructure.

We’ve committed to reaching 250 million people with meaningful connectivity by the end of next year. Today, we’re calling for continued support and collaboration from all sectors to ensure no one is left behind. We call on all stakeholders to join us in this mission.
- Governments must create enabling regulatory environments that prioritize funding for digital infrastructure and support quick and efficient allocation of funding by federal, state, and local entities.
- The private sector must invest in innovative technologies and business models.
- Philanthropic organizations must continue to advocate for digital inclusion and develop initiatives anchored in the local community.
The journey to close the digital divide is a long one. Building out infrastructure takes time. It’ll take time for us to see some of the direct results of this work, but there is room for optimism. We are extremely grateful for the leadership and vision of the United States government, which is laying a blueprint for other countries to follow, as well as state and local leaders working to ensure these programs are successful. We encourage all policymakers to proceed efficiently so the benefits of these investments reach local communities sooner rather than later.

With continued collaboration and commitment, we can use the power of data, technology, and partnership to achieve our ambitious goals. We’re dedicated to making a lasting impact, and we are excited about the future. Let’s come together to bring the power of digital connectivity and transformation to people around the world.

Tags: Airband initiative, broadband, broadband access, connectivity, digital access, digital divide, digital inequity, Digital Inequity Dashboard, Internet access, rural broadband
MIL OSI Economics –
January 23, 2025
MIL-OSI USA: New Program to Keep Money in New Yorkers’ Pockets

Source: US State of New York

Governor Kathy Hochul today announced that the New York State Public Service Commission approved a request by the New York Power Authority to establish the Renewable Energy Access and Community Help program to provide electric bill credits for low-income households in disadvantaged communities across the state. The new program stems from NYPA’s expanded authority to develop, own and operate renewable energy generating projects—either alone or in collaboration with other entities—granted in last year’s State Budget.

“My administration remains steadfast in supporting that New York State remains an affordable place to live and do business,” Governor Hochul said. “The NYPA REACH program will help ensure that low-income New Yorkers in disadvantaged communities will not be left behind as we make the critical transition to a clean-energy economy.”

New York State Public Service Commission Chair Rory M. Christian said, “The PSC fights every day to protect the interests of consumers, and the program approved today is one step in that fight. Authorizing the implementation of the REACH program allows NYPA to make progress toward the State’s clean energy goals and ensures low-income customers in disadvantaged communities have access to renewable energy and directly benefit from NYPA’s new program.”

New York Power Authority President and CEO Justin E. Driscoll said, “REACH will directly benefit low-income electric ratepayers in disadvantaged communities using renewable generation from distributed energy sources in their communities or from large-scale renewable projects located throughout the state’s electric power grid. The bill credits will be funded from a portion of revenues from new renewable energy generation projects developed by NYPA and designated for REACH.”

Today, the PSC established a regulatory framework to allow electric utilities to receive funds from the Power Authority to credit the electric bills of low-income ratepayers in disadvantaged communities. New York Power Authority (NYPA) had requested that the New York State Public Service Commission (PSC) adopt the Renewable Energy Access and Community Help (REACH) program utilizing the same structure as the Energy Affordability Program (EAP) and as the Statewide Solar for All program, which Governor Hochul announced in this year’s State of the State and approved by the PSC earlier this year. The use of existing regulatory structures will lower costs for program administration and ultimately allow for more funds to be received by low-income ratepayers.

To align with the implementation of the Statewide Solar for All program, the PSC directed that the electric utilities initially enroll EAP eligible low-income customers within disadvantaged communities, and as more resources come online, expand enrollment to all low-income and moderate-income customers, regardless of location to align with the implementation of the Statewide Solar for All program.

NYPA will implement REACH with DPS Staff and the utilities according to the order, including arrangements to fund REACH bill credits as project revenues become available. Once the REACH framework is established, NYPA plans to confer with the Long Island Power Authority (LIPA) to implement REACH within LIPA’s service territory.

MIL OSI USA News –

January 23, 2025
MIL-OSI Russia: Sobyanin: The main idea of the development strategy is to make Moscow the best city in the world

MILES AXLE Translation. Region: Russian Federation –

Source: Moscow Government – Government of Moscow –

Sergei Sobyanin met with students of the Science and Technology University, College and Educational Centre “Sirius”. The meeting was held in the “Atom” hall in Sochi. The Moscow Mayor spoke about new solutions in the sphere of improving the quality of life in cities using the example of the strategy for the development of the capital until 2040 and answered questions.

According to the Mayor of Moscow, the main idea of the development strategy is to make the capital the best city in the world.

“For our city to be the best, it must have the most powerful economy in our country, it must have the best opportunities for every person, the best urban environment, and it must be a global center of attraction that the whole world would know and strive to come to Moscow,” said Sergei Sobyanin.

The capital has a large-scale public transport infrastructure – underground, surface and water. Over the past 14 years, the city has built a large number of new metro stations, equal in number to those built throughout the history of Moscow. An above-ground metro has appeared – four Moscow Central Diameters, which allow you to get to the Moscow region and nearby areas. In addition, a decision has been made to build a high-speed railway (VSM-1) to St. Petersburg.

“This is the President’s project, a high-speed railway (HSR) connecting St. Petersburg and Moscow, then Nizhny Novgorod, Rostov-on-Don, Voronezh. I think that most of you live in one or another region where this project should come. This means that the entire country will be closer, travel options will be more comfortable, accessible, and the country will develop differently,” the Moscow Mayor emphasized.

The new rail framework will become a powerful impetus for regional development. The HSR-1 (Moscow-St. Petersburg), the construction of which began in 2024, will cover more than 80 percent of the Russian population. The speed of trains will reach 400 kilometers per hour.

More than a million trips have been made by passengers on electric ships since the beginning of the year 110 carriages of the Ivolga 4.0 train will be launched on the MCD by the end of the year

New centers of economic activity are being created in the capital. In addition to the historical center, there will be six more comparable in size. They will be located in abandoned depressed areas where a large number of transport highways intersect. Thus, all districts of Moscow will receive their own modern center for life, work and leisure.

One such center of economic activity is “Yuzhny Port – Tekstilshchiki”It is being created as part of the world’s largest industrial zone reorganization project.

The city is implementing a complex renovation program that has no analogues in the world. It includes 5,175 buildings. City residents are moving from outdated apartments to new, modern and comfortable ones. In 2024, housing was provided for the resettlement of more than 170 thousand Muscovites. In addition, as part of the renovation program, over 400 social facilities will be built and more than 200 thousand jobs will be created.

Renovation program: about 75 percent of new residents took advantage of the city’s assistance when moving Sergei Sobyanin: About 1.7 thousand capital courtyards were improved this year

The capital is renewing its urban environment and creating comfortable public spaces. Moscow is developing not just residential areas, but complex districts with parks, squares and embankments where you can work and relax. They are becoming mini-cities with high-quality infrastructure, where there is everything necessary for life.

The world’s largest monument restoration program is in effect in the capital. More than 2,100 of them were restored in 2011–2024. More than 150 more monuments are planned to be restored annually.

“In total, more than two thousand monuments have been restored, are in very good condition and continue to serve Muscovites not only as monuments, but also as life, business, public and city organizations,” said Sergei Sobyanin.

Instead of old cultural centers, multifunctional recreation and entertainment centers are appearing in the city. The largest cinema park “Moskino” was built in TiNAO.

The capital can be proud of its unique, accessible and best healthcare system in the world. Today, artificial intelligence (AI) helps to recognize diseases from CT, MRI and ultrasound images. With the help of AI, it will be possible to predict health problems for each resident and conduct preventive work. The average life expectancy in the capital is expected to approach 80 years.

Digital technologies are also being implemented in the education system. The world’s largest project, the Moscow Electronic School, allows for the creation of a digital twin of each student and the personalization of their development trajectory. Secondary vocational education is being revived. The capital is dramatically improving its quality and doubling the number of colleges. 75 percent of vacancies on the labor market are for workers with this type of training.

Moscow Mayor: Funds for school reconstruction included in draft budget Sobyanin: Budget expenditures on healthcare development will be increased by 8%

The digital ecosystem is developing. Its 90 key projects cover all areas of city life, from public utilities to city services, transport, and education.

The digital system of Moscow services is the best in the world according to the United Nations. The mos.ru portal offers 420 electronic services. They allow you to draw up documents and social benefits, pay bills, and transmit meter readings.

A digital twin of a city is a project that helps to see its future for decades to come, plan development, design buildings, structures, engineering and social infrastructure, ensuring a comfortable life for Muscovites.

The capital is becoming safer thanks to new technologies, artificial intelligence systems, video surveillance, and facial recognition. The crime rate in Moscow is one of the lowest among world cities.

Sobyanin: The draft budget for 2025 includes the development of digital technologies

The capital’s economic structure corresponds to the world level: it has a powerful industry, government services, transport, logistics, creative industry, etc. Labor productivity in Moscow is twice as high as the national average.

“Well, Moscow ultimately occupies a worthy place among all the cities of the world in terms of economy, despite the fact that the largest financial centers of the world are ahead of us. Despite the sanctions, despite the sanctions war declared against us, despite the difficulties, the SVO and so on, Moscow today is one of the world leaders. It is very important that it maintains its leadership. It is the locomotive of the country’s development, and I hope that you will carry this flag further and develop our beautiful capital and wonderful Russia,” the Mayor of Moscow concluded.

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.

https://vvv.mos.ru/major/themes/11903050/

MIL OSI Russia News –

January 23, 2025
MIL-OSI Russia: Dmitry Grigorenko: The main challenge in digitalization is to fulfill the planned

MILES AXLE Translation. Region: Russian Federation –

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

Dmitry Grigorenko took part in the forum of innovative financial technologies Finopolis 2024 in Sochi

Deputy Prime Minister – Chief of the Government Staff Dmitry Grigorenko took part in the session “Digital technologies serving society: a new look at fintech and government services” as part of the Finopolis 2024 forum of innovative financial technologies in Sochi.

He noted that Russia is currently integrated into the global IT space. This is proven by the fact that our country faces the same digitalization challenges as all other countries. The key tasks remain the development of data transmission and processing infrastructure, the introduction of artificial intelligence, information protection, overcoming regulatory barriers and adaptation to changes in consumer expectations.

The Deputy Prime Minister stressed that these challenges concern both public and private institutions, including the banking sector.

“We have designed a national project, “Data Economy”. This is the basis for work. But it is important to remember that plans alone will not lead to results. Therefore, the main challenge in digitalization is to implement everything planned,” said Dmitry Grigorenko.

Today, the financial sector is helping to implement measures aimed at creating a safe digital space for citizens and businesses. In particular, together with the Bank of Russia, the Government is developing the architecture of a single anti-fraud platform. It is expected that it will ensure online interaction between government agencies, banks, telecom operators and digital platforms to combat telephone fraud. In addition, the platform will allow for the prompt identification and blocking of phishing sites, fraudsters’ phone numbers, as well as their accounts and cards, stolen accounts and suspicious transactions.

Currently, the development of a legislative initiative to combat cyber fraud is also being discussed together with the banking sector. It is aimed at eliminating the current problem of fraud, when criminals issue microloans to third-party accounts or anonymous electronic wallets.

It is assumed that the initiative will establish a ban on issuing microloans to third parties and will establish a requirement for the loan amount to be transferred exclusively to the borrower’s bank account. To open an account, the borrower will have to undergo an identification procedure – this can be done using biometrics or in person at the bank.

Earlier, as part of the work to combat cyber fraud, the Government approved a procedure for self-prohibition on the issuance of consumer loans and microloans. The corresponding resolution has been signed.

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://government.ru/nevs/53011/

MIL OSI Russia News –

January 23, 2025
MIL-OSI Russia: Denis Manturov took part in the opening of a customs and logistics terminal in Buryatia

MILES AXLE Translation. Region: Russian Federation –

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

Denis Manturov took part in the opening of the Kyakhta customs and logistics terminal on the Russian-Mongolian border

19 hours ago

First Deputy Prime Minister Denis Manturov took part in the opening of the new Kyakhta customs and logistics terminal on the Russian-Mongolian border via video link. The event was also attended by the head of Buryatia, Aleksey Tsydenov.

“A modern, technologically advanced complex has been created for cargo handling, temporary storage, customs clearance of goods, radiation and phytosanitary control. The formed infrastructure will increase the efficiency of customs procedures when moving goods across the Russian-Mongolian border. We currently have 10 border crossings in this direction. Among them, the Kyakhta automobile checkpoint is one of the busiest. The new terminal will allow us to expand bottlenecks and increase throughput. This is especially important given the growing role of Asian countries in the global economy and the reorientation of significant volumes of our foreign trade to this direction. The counter flow of goods with the states of the eastern macroregion will continue to expand. Therefore, today’s event, we can safely say, contributes to the development of Russia’s foreign economic activity,” Denis Manturov noted.

“The terminal that opens today in Kyakhta is the first and so far the only such facility. Kyakhta is the main checkpoint and communications hub between Russia and Mongolia. And the growing cargo flow is exactly what meets the task set by the President of increasing the throughput capacity of international transport corridors by one and a half times. The new infrastructure for handling cargo and handling vehicles creates all the necessary conditions for increasing throughput capacity,” said Alexey Tsydenov.

The total area of the terminal is 188.8 thousand square meters. The customs control zone is designed to accommodate 80 trucks at a time. Temporary storage warehouses can accommodate up to 350 trucks. There are also two accredited laboratories on the territory of the terminal, which will allow checking the quality of supplied products and other goods. All this will increase throughput: clearance at the point will take no more than 10 minutes.

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://government.ru/nevs/53010/

MIL OSI Russia News –

January 23, 2025
MIL-OSI USA: Poll Finds Swing State Voters Concerned About Out-of-Control National Debt
Source: United States House of Representatives – Congressman Jodey Arrington (TX-19)

Washington, D.C. – Recently, the Peter G. Peterson Foundation released a report showing that swing state voters overwhelmingly believe that the rising national debt is a critical campaign issue.

According to the report, more than 90 percent of voters across seven key states – Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin – say that it’s important for presidential candidates to have a plan to rein-in the national debt.

“The numbers don’t lie – the American people are concerned about our country’s unsustainable fiscal path, and rightfully so,” said House Budget Chairman Jodey Arrington (TX-19). “Record deficit spending is devaluing the dollar, weakening our economy, and pushing us closer to a debt crisis. We must rein-in Washington’s out-of-control spending and restore fiscal sanity before it’s too late. Instead of reducing the size of government and living within our means, we borrow from the future – placing a deferred tax on our children. We must reverse the Biden-Harris spending spree, fix the broken health care and welfare system, and reignite economic growth by lowering taxes, cutting regulations, and incentivizing work.”

Background:
- The poll was commissioned by the Peter G. Peterson Foundation, a nonprofit, nonpartisan organization that is dedicated to increasing public awareness of the nature and urgency of key fiscal challenges threatening America’s future, and to accelerating action on them.
- Read Chairman Arrington’s statement on the CBO report showing that the Biden-Harris Administration raised the deficit to $1.8 trillion in FY24 HERE.
- Read more about the sharp decline in consumer confidence HERE.
- Read more about how interest payments on the debt have skyrocketed by 153 percent under Biden and Harris HERE.
###

MIL OSI USA News –
January 23, 2025
MIL-OSI Canada: Government of Canada National Action Plan results in 19 per cent decline in auto theft
Source: Government of Canada News

News release

Today, the Honourable Anita Anand, President of the Treasury Board and Minister of Transport, released an update on the progress made under the National Action Plan on Combatting Auto Theft.
October 16, 2024 – Oakville, ON

Today, the Honourable Anita Anand, President of the Treasury Board and Minister of Transport, released an update on the progress made under the National Action Plan on Combatting Auto Theft.

The Action Plan, which was developed following the National Summit on Combatting Auto Theft, focuses on disrupting, dismantling and prosecuting the organized crime groups involved in auto theft. It is built on the following pillars: Intelligence and information sharing; Intervention; and Legislation, regulations and governance.

The Government of Canada’s efforts, guided by the Action Plan and done in collaboration with its domestic and international partners, including provinces, territories, municipalities, industry, and law enforcement, are yielding results. According to the Insurance Bureau of Canada, national auto theft trends for 2024 have shown a 19 per cent decline in auto theft in the first half of the year compared to the same period last year. As well, the Canada Border Services Agency (CBSA) has intercepted more than 1,900 stolen vehicles in railyards and ports this year, already exceeding last year’s total. In the Greater Toronto Area alone, 620 stolen vehicles have been intercepted by the CBSA in 2024.

To date, the following key milestones have been achieved through the Action Plan.
- Changes to the Criminal Code to provide additional tools for law enforcement and prosecutors to address auto theft, including the addition of new offences targeting the use of violence in the commission of a vehicle theft and links to organized crime, as well as offences for the possession or distribution of electronic tools used to commit auto theft and laundering proceeds of crime for the benefit of a criminal organization. These changes strengthen an already robust framework to address organized crime and auto theft.
- Enhancements to intelligence and information sharing between municipal, provincial, federal and international police and customs officials.
- Expansion of scanning technology, data analytics and targeting to increase the examination of shipping containers – including the deployment of additional scanning technology in the Greater Toronto Area.
- Launch of up-to-date specialized anti-auto theft training for law enforcement, delivered by the Canadian Police College.
- Radiocommunication Act amendments to regulate the sale, distribution, and importation of radio devices used for auto theft.
- Establishment of a National Intergovernmental Working Group on Auto Theft to coordinate actions, monitor progress and explore new initiatives to combat auto theft and transnational organized crime.
- New supports for the development of early-stage, pre-commercial, anti-theft technologies.
While this downward trend is promising, maintaining it will require continued focus and collaboration. Canadians can rest assured that the Government of Canada, as well as our law enforcement agencies, will continue to be vigilant.
Quotes

“When we see that auto theft rates are declining, we know that we’re taking steps in the right direction. Our Government is fighting to keep Canadians safe and implementing our Action Plan, including exploring new anti-theft technologies, regulatory updates, and improving port security.”

– The Honourable Anita Anand, President of the Treasury Board and Minister of Transport

“Today’s Action Plan update highlights some significant steps forward in our fight to combat this complex crime. Our government will continue to build on this progress to ensure we remain responsive and adaptable in our approach to combat auto theft and the organized crime groups behind it.”

– The Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs

“We have shown that by working together, we can tackle complex issues and ensure that all people in Canada can feel safe in their communities. We strengthened the Criminal Code to give law enforcement the full range of tools they need to address auto theft and ensure that offenders are held to account, while strengthening penalties to deter crime.”

– The Honourable Arif Virani, Minister of Justice and Attorney General of Canada

“No Canadian should wake up to discover their means of getting to work, school, or the grocery store has been stolen. We are working with Canadian companies, online retailers and the automotive industry to come up with new initiatives such as Innovative Solutions Canada’ Vehicle Theft Prevention challenge, launched last month. By fostering innovative ideas that will enhance vehicle security and working collaboratively, we can protect our communities and put a stop to auto theft.”

– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

“We have a common goal to prevent and reduce auto theft crimes, enforce the law and keep Canadians safe. The RCMP has been actively sharing intelligence and information between all levels of law enforcement partners across Canada and internationally, and training investigators with the latest techniques to better detect and disrupt this criminal activity.”

– Michael Duheme, Commissioner, Royal Canadian Mounted Police

“Combatting auto theft and the organized crime groups that benefit from it is a priority for the CBSA. So far this year, the CBSA has intercepted more than 1,900 stolen vehicles, already exceeding last year’s total. We have also deployed additional scanning technology in the Greater Toronto Area. Moreover, we continue to act on 100% of referrals by enforcement partners and have expanded data analytics and targeting to increase the targeting of shipping containers. Finally, we have established a 24/7 central point of contact for police to coordinate requests to locate vehicles that may be tracked to a port. While we are pleased with what has already been achieved through the National Action Plan, we know more work needs to be done and we will continue collaborating with our partners to intercept stolen vehicles before they leave the country.”

– Erin O’Gorman, President of the Canada Border Services Agency

Quick facts
- The Government of Canada has been engaging with industry and other stakeholders on auto theft, including port authorities, rail and shipping companies, as well as the automotive and insurance industries, as part of our collective effort to combat this crime.
- While the investigation of these types of offences falls under the police of jurisdiction, the Royal Canadian Mounted Police (RCMP) and the Canada Border Services Agency (CBSA) are supporting important work being done to make progress on this issue.
- The RCMP and CBSA continue to be involved in integrated task forces led by the Ontario Provincial Police and Sûreté du Québec.
- The CBSA has established a 24/7 central point of contact for police to coordinate requests to locate vehicles that may be tracked to a marine port or intermodal facility and continues to act on 100% of referrals.
- The RCMP continues to process international notifications and requests received through INTERPOL’s stolen motor vehicle database to better track stolen vehicles with international partners. From February to August 2024, the RCMP received 2,310 alerts about Canadian vehicles and 424 international collaboration requests.
- The CBSA, in collaboration with police forces across Ontario and Quebec, announced the recovery of nearly 600 stolen vehicles from the Port of Montreal through Project Vector, in April 2024.
- The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) continues to produce financial intelligence disclosures to law enforcement in support or investigations into organized crime, including auto theft.
- Police services have been encouraged to collect information from victims relating to tracking technology present in their vehicles (i.e., Apple AirTag, Tile Tracker, Samsung SmartTracker) and add this information to the Canadian Police Information Centre system.
- Transnational organized criminal groups are believed to be involved in the export of stolen vehicles from Canada; however, most vehicle thefts involve lower-level threat groups, with violent street gangs being the most prevalent.
- Most stolen vehicles exported are destined for Africa and the Middle East. Some stolen vehicles also remain in Canada, enabling other crimes to be committed with the vehicles and are destroyed afterwards.
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Contacts

Gabriel Brunet
Press Secretary
Office of the Honourable Dominic LeBlanc
Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs
819-665-6527
gabriel.brunet@iga-aig.gc.ca

Media Relations
Public Safety Canada
613-991-0657
media@ps-sp.gc.ca

MIL OSI Canada News –
January 23, 2025
MIL-OSI Canada: Federal government invests to strengthen Canada’s expertise in satellite communications
Source: Government of Canada News

News release

Kepler Communications is developing an in-orbit, high-speed connectivity network

Kepler Communications is developing an in-orbit, high-speed connectivity network

October 16, 2024 – Toronto, Ontario

Canada is a world leader in satellite communications, an industry that contributes billions of dollars to the Canadian economy each year and supports thousands of good-paying jobs. The federal government is committed to strengthening this crucial sector of our economy through key investments that will cement Canada’s global leadership position and expertise in space.

Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced a $20 million investment through the Strategic Innovation Fund (SIF) to support Kepler Communications’ development of the Aether constellation and its in-orbit, high-speed connectivity network, a project valued at $280.3 million. Kepler Communications, a Canadian leader in small satellite mass manufacturing, also received $2 million in funding for this project from the Canadian Space Agency in September 2024.

Today’s investment will advance Canada’s satellite communications capabilities to deliver higher-speed data relay between space and the earth by using optical intersatellite link laser technology. These SIF contributions will also enable Kepler to create 95 full-time jobs and 346 future co-op positions for students. Kepler will undertake this work at its headquarters in Toronto, Ontario.

The federal government is committed to strengthening the Canadian space sector’s leadership in space exploration, science and innovation.

Quotes

“Today, the government is investing in Kepler Communications’ Aether Network, an innovative project to establish an in-orbit high-speed connectivity network, which will create and maintain hundreds of highly skilled jobs and internships for Canadians in addition to partnerships with small and medium-sized enterprises and with universities and colleges. Through this investment and others, the government is positioning Canada as a global leader in space and developing critical technologies for Canadians.”

– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

“Space innovations such as the Aether constellation reinforce Canada’s reputation as a key player in the global space industry—for today and tomorrow. Thanks to our long-standing collaboration with the European Space Agency, Kepler will further advance its technology by leading a major mission, HydRON-DS, and will be positioned to become a global leader in providing Internet-like connectivity in space.”

– Lisa Campbell, President of the Canadian Space Agency
Quick facts
- In 2022, Canada’s space sector employed over 12,000 people and contributed over $3.2 billion to Canada’s GDP. The sector is highly innovative and R&D-intensive.
- Since 2016, the government has committed over $9 billion to the country’s space sector.
- Kepler Communications Inc. is a vertically integrated satellite manufacturing and telecommunications company that fully designs, manufactures and operates its satellites in-house.
- The company intends to further its satellite technology in collaboration with the European Space Agency (ESA) in the next phase of its satellite technology development and demonstration program, the High thRoughput Optical Network program, or HydRON Demonstration System.
- This contract is made possible by the long-standing cooperation agreement between Canada and the ESA.
- Canada has held the privileged position of being the only non-European cooperating state of the ESA since 1979, resulting in commercial sales and job creation, as well as knowledge and expertise sharing, all of which benefit the Canadian economy.
Associated links

Contacts
Audrey Milette
Press Secretary
Office of the Minister of Innovation, Science and Industry
audrey.milette@ised-isde.gc.ca

Media Relations
Innovation, Science and Economic Development Canada
media@ised-isde.gc.ca

Canadian Space Agency
Media Relations Office
asc.medias-media.csa@asc-csa.gc.ca

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MIL OSI Canada News –
January 23, 2025

Category: Economy

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