Category: Economy

  • MIL-OSI USA: Statement from Vice President Kamala  Harris on One Million Public Service Workers Receiving Student Debt  Cancellation

    US Senate News:

    Source: The White House
    Higher education should be a pathway to economic opportunity – not a lifetime of debt. That is why I have fought to make education more affordable and reduce the burden of student debt throughout my career.
    When President Biden and I took office, only 7,000 people had ever been approved for Public Service Loan Forgiveness. Today, I am proud to say that a record one million teachers, nurses, first responders, social workers, and other public service workers have received student debt cancellation. As I travel our nation, I meet many of these public servants who say they now have more money in their pocket to put towards buying a home, renting an apartment, getting a car, starting a family, and saving up for the future.
    Our Administration has forgiven over $170 billion in student debt for nearly five million people throughout the country — more than any Administration in history. And while Republican elected officials do everything in their power to block millions of their own constituents from receiving this much needed economic relief, I will continue our work to lower costs, make higher education more affordable, and relieve the burden of student debt. I am fully committed to doing what is necessary to build an economy that works for every American.

    MIL OSI USA News

  • MIL-OSI Germany: Together for Frankfurt: New corporate initiative supports social projects in the city’s station district

    Source: Deutsche Bundesbank in English

    A joint initiative by companies and institutions based in and around Frankfurt’s Bahnhofsviertel – the district surrounding its central railway station – intends to help improve the difficult situation in the area. Known as the BHV corporate initiative (BHV being an acronym for Bahnhofsviertel), it aims to make a positive contribution to the district and support selected social projects through constructive dialogue with the city. Representatives of the participating companies presented the initiative at a joint event today with Frankfurt’s mayor Mike Josef. Speaking at the K9 advice centre, one of the welfare facilities to receive financial support from the BHV corporate initiative, they reaffirmed their commitment to the district and called for further intensive efforts to find solutions to the area’s problems.
    Mayor Josef highlighted the following: When I took office one and a half years ago, a particularly important topic was the situation in the station district. And it remains so to this day. The many meetings I have had over the past few months have included conversations with companies, their representatives and employees based in or near the station district. It has become clear that the situation in the district needs to change. He went on to say: I am pleased that many conversations have been very constructive. With the BHV corporate initiative, several companies and institutions have decided to provide financial support to social facilities in the station district. I would like to take this opportunity to express my sincere thanks for this.
    We have joined forces in a cross-sectoral initiative to improve the situation in the station district for people who spend time here for a multitude of different reasons. We want to achieve this by supporting tangible projects, said Stephan Bredt, chief operating officer at the Bundesbank, one of the institutions bringing ideas to the joint initiative. The Bundesbank, which has offices in and around the station district, is happy to contribute to its success by getting involved and providing good ideas. We see ourselves at the beginning of a long-term undertaking and invite other interested parties to join in.
    The BHV corporate initiative, which currently comprises eleven companies and institutions with around 26,000 employees in and around the station district, is supporting various aid projects for people in need. Indirectly, these may also help to improve the district’s appearance. In a first step, the initiative will support four facilities in the district with funding of €100,000 each:
    The K9 advice centre for projects that help people with drug addiction regain a foothold in labour market;
    La Strada drug help centre to extend and renovate its community café and drug consumption rooms and expand its provision of medical care;
    The night café on Moselstrasse to provide warm meals for people battling addiction;
    Malteser Werke to expand their emergency medical service in the district as part of their proactive social work.
    As a gateway to the city, the station district has great economic, cultural and social potential. In order to harness this, the current problems need to be tackled on a lasting basis, said Christian Sewing, CEO of Deutsche Bank, speaking on behalf of the companies involved. We welcome the initiative of the mayor and the municipal administration of Frankfurt to develop and implement forward-looking solutions for the station district. It is important that initial improvements are now quickly followed by further tangible steps. As corporate citizens, we want to exercise our social responsibility and make an active contribution to improving the situation and unlocking the district’s full potential.
    The participants of the BHV initiative are making a long-term commitment. In addition to the specific financial support to social facilities provided by the companies involved, the initiative aims to liaise closely with the city on the progress made in the district. Moreover, participants are harnessing the initiative to improve the exchange of information with regard to the challenges and opportunities in the district. Other companies and institutions that would like to get involved are welcome to join at any time.
    Current participants
    Bank of America
    Deutsche Bundesbank
    Deutsche Bank
    Deutsche Vermögensberatung
    DWS
    DZ Bank
    Frankfurter Volksbank Rhein-Main
    Helaba
    Merz Pharma
    Momeni Group
    Nestlé Deutschland

    MIL OSI

    MIL OSI German News

  • MIL-OSI: Kvika banki hf.: Publication of Financial Results and Capital Markets Day

    Source: GlobeNewswire (MIL-OSI)

    The Board of Directors of Kvika banki hf. is set to approve the financial statements of the Group for the third quarter and the first nine months of 2024 at a board meeting on Wednesday 6 November. The financial statements will subsequently be published after domestic markets have closed.

    On Thursday, November 7, a presentation for shareholders and market participants will be held as a part of Kvika’s Capital Markets Day. During the event, Kvika’s management will present the company’s strategic priorities following the expected sale of TM, and provide an overview of the key highlights from the third quarter financial results.

    The event will take place at Harpa’s Northern Lights Hall from 12:00 to 16:00. The presentation will be conducted in Icelandic and a live stream of the event will be available. 

    The registration deadline for the event is October 25 and you can register here. Please note that registration for the event is limited due to capacity restraints.

    Further information please contact Kvika‘s investor relations. ir@kvika.is

    The MIL Network

  • MIL-OSI: reAlpha’s ‘Be My Neighbor’ Secures Mortgage Broker License in New Mexico

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Ohio, Oct. 17, 2024 (GLOBE NEWSWIRE) — reAlpha Tech Corp. (“reAlpha” or the “Company”) (Nasdaq: AIRE), a real estate technology company developing and commercializing artificial intelligence (“AI”) technologies, today announces the operational expansion of its subsidiary, Be My Neighbor (“BMN”). BMN, a veteran-operated mortgage brokerage company, has obtained its broker license in the State of New Mexico.

    “Securing this license in New Mexico is a pivotal step in our expansion strategy,” said Nathan Nottingham, Chief of Staff of BMN. “We’re excited to bring our client-focused mortgage services to New Mexico, providing residents with a more personalized and efficient home financing experience.”

    As part of its strategic growth plan, BMN will continue to expand into additional states, delivering accessible, transparent, and community-driven mortgage solutions.

    About reAlpha Tech Corp.
    reAlpha Tech Corp. (Nasdaq: AIRE) is a real estate technology company developing an end-to-end commission-free homebuying platform. Utilizing the power of AI and an acquisition-led growth strategy, reAlpha’s goal is to offer a more affordable, streamlined experience for those on the journey to homeownership. For more information, visit http://www.realpha.com.

    About Be My Neighbor
    Debt Does Deals, LLC (d/b/a Be My Neighbor) is a veteran-operated mortgage brokerage company operating in 27 states. The company believes that one house has the power to make a life-changing impact for a family and future generations. Their mission is to bring humanity back into the biggest financial real estate decision that a person will make in their lifetime by showing them how to build generational wealth through smart real estate decisions and actually enjoy the process along the way. For more information, visit bemyneighbor.mortgage.

    Forward-Looking Statements
    The information in this press release includes “forward-looking statements”. Forward-looking statements include, among other things, statements about BMN’s recently acquired broker license in New Mexico; the anticipated benefits of BMN’s expansion into New Mexico and plan to expand into additional states; reAlpha’s and BMN’s ability to anticipate the future needs of the short-term rental market; future trends in the real estate, technology and artificial intelligence industries, generally; and reAlpha’s and BMN’s future growth strategy and growth rate. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: reAlpha’s limited operating history and that reAlpha has not yet fully developed its AI-based technologies; reAlpha’s ability to commercialize its developing AI-based technologies; whether reAlpha’s technology and products will be accepted and adopted by its customers and intended users; reAlpha’s ability to integrate the business of BMN into its existing business and the anticipated demand for BMN’s services in any of the markets reAlpha or BMN operates or provide services in; BMN’s ability to expand into additional states; reAlpha’s ability or the inability to maintain and strengthen reAlpha’s brand and reputation; the inability to accurately forecast demand for short-term rentals and AI-based real estate focused products; the inability to execute business objectives and growth strategies successfully or sustain reAlpha’s growth; the inability of reAlpha’s customers to pay for reAlpha’s services; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment; and other risks and uncertainties indicated in reAlpha’s U.S. Securities and Exchange Commission (“SEC”) filings.

    Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements.

    Although reAlpha believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. reAlpha’s future results, level of activity, performance or achievements may differ materially from those contemplated, expressed or implied by the forward-looking statements, and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements.

    For more information about the factors that could cause such differences, please refer to reAlpha’s filings with the SEC.

    Readers are cautioned not to put undue reliance on forward-looking statements, and reAlpha does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Company Contact
    Investor Relations
    investorrelations@realpha.com

    Media Contact
    irlabs on behalf of reAlpha
    Fatema Bhabrawala
    fatema@irlabs.ca

    The MIL Network

  • MIL-OSI Economics: Identity theft: BaFin warns consumers about the website fips-finance.com

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) has information that the company FIPS Finance & Development is providing financial services in Germany on its website fips-finance.com without the required authorisation. The company is not supervised by BaFin. Customers are incorrectly led to believe that the website is operated by an Austrian company that is registered in the Austrian company register. This is not the case. It is a case of identity fraud.

    Anyone wishing to conduct banking business or provide financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation.

    BaFin is issuing this information on the basis of section section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

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

    MIL OSI Economics

  • MIL-OSI: Carbon Streaming Initiates Claims in Connection With the Rimba Raya Project

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 17, 2024 (GLOBE NEWSWIRE) — Carbon Streaming Corporation (Cboe CA: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) today announces that on October 16, 2024 it initiated arbitration proceedings and an Ontario court action to enforce its legal and contractual rights under the Rimba Raya PSA (as defined below). The Company had previously indicated that it would be evaluating all legal avenues to enforce its legal and contractual rights under the Rimba Raya PSA, the SAA (as defined below) and related agreements. Initiating the arbitration proceedings and the Ontario court action are an important step in preserving the Company’s legal and contractual rights.

    The Company delivered a Notice of Arbitration to Infinite-Earth Limited and PT Infinite Earth Nusantara, the operators of the Rimba Raya project (“Infinite-Earth”) in accordance with the purchase and sale agreement between the Company and Infinite-Earth dated July 30, 2021, as amended on February 28, 2023 (the “Rimba Raya PSA“); a Notice of Arbitration to the shareholders of Infinite-Earth Limited in accordance with the strategic alliance agreement between the Company and the shareholders of Infinite-Earth Limited dated July 30, 2021, as amended on November 17, 2021 (the “SAA”); and issued a Notice of Action in the Ontario Superior Court of Justice seeking declaratory relief against the principals of Infinite-Earth Limited and their related entities.

    The dispute between the Company, Infinite-Earth, and the principals of Infinite-Earth Limited arises out of acts and omissions that the Company alleges are improper and in breach of the Rimba Raya PSA, the SAA, and related agreements.

    On April 26, 2024, the Company announced that it was informed that PT Rimba Raya Conservation (“PT Rimba”), the local concession holder for the Rimba Raya project, had its Forest Utilization Business License (the “Concession License”) revoked by the Indonesian Government’s Ministry of Environment and Forestry (the “MOEF”). On May 15, 2024, the Company announced its financial results for the three months ended March 31, 2024, and determined the fair value of the Rimba Raya PSA to be nil. On July 11, 2024, the Court reached a decision on the claim filed by PT Rimba against the MOEF before the State Administrative Court of Jakarta (the “Court of Jakarta”) challenging the MOEF’s revocation of the Concession License and declared the MOEF’s revocation of the Concession License to be void. The MOEF subsequently appealed the Court of Jakarta’s decision, and on September 30, 2024, the Court of Jakarta upheld its decision. The MOEF has until Friday, October 18, 2024, to initiate an appeal to overturn the decision to the Supreme Court of Jakarta.

    For a comprehensive discussion regarding the risks, assumptions and uncertainties that could further impact the Rimba Raya project and the Rimba Raya PSA, including without limitation, concerning the legal status of the Concession License and the Rimba Raya PSA, investors are urged to review the section of the Company’s management’s discussion and analysis for the three months ended June 30, 2024 dated as of August 12, 2024 entitled “Strategy and Outlook – Indonesia Update”, the section of the Company’s Annual Information Form dated as of March 27, 2024 entitled “Risk Factors” and the press releases dated April 26, 2024, May 15, 2024 and May 21, 2024, copies of which are available on SEDAR+ at http://www.sedarplus.ca.

    About Carbon Streaming

    Carbon Streaming aims to accelerate a net-zero future. We pioneered the use of streaming transactions, a proven and flexible funding model, to scale high-integrity carbon credit projects to advance global climate action and additional United Nations Sustainable Development Goals. This approach aligns our strategic interests with those of project partners to create long-term relationships built on a shared commitment to sustainability and accountability and positions us as a trusted source for buyers seeking high-quality carbon credits.

    The Company’s focus is on projects that have a positive impact on the environment, local communities, and biodiversity, in addition to their carbon reduction or removal potential. The Company has carbon credit streams and royalties related to over 20 projects around the world, including high-integrity removal, reduction and avoidance projects from nature-based, agricultural, engineered and community-based methodologies.

    To receive corporate updates via e-mail, please subscribe here

    ON BEHALF OF THE COMPANY:
    Christian Milau, Interim Chief Executive Officer
    Tel: 647.846.7765
    info@carbonstreaming.com
    http://www.carbonstreaming.com

    Investor Relations
    investors@carbonstreaming.com

    Media
    media@carbonstreaming.com

    Advisories

    The references to third party websites and sources contained in this news release are provided for informational purposes and are not to be considered statements of the Company.

    Cautionary Statement Regarding Forward-Looking Information

    This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking information, including, without limitation: statements regarding acts and omissions of Infinite-Earth and the shareholders and principals of Infinite-Earth Limited; and statements with respect to the status of the Concession License held by PT Rimba with the MOEF.

    When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements. This forward-looking information is based on the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. They should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the outcome of the final ruling with respect to the revocation of the Concession License held by PT Rimba; general economic, market and business conditions and global financial conditions, including fluctuations in interest rates, foreign exchange rates and stock market volatility; volatility in prices of carbon credits and demand for carbon credits; change in social or political views towards climate change, carbon credits and ESG initiatives and subsequent changes in corporate or government policies or regulations and associated changes in demand for carbon credits; limited operating history for the Company’s current strategy; risks arising from competition and future acquisition activities; concentration risk; inaccurate estimates of growth strategy; dependence upon key management; impact of corporate restructurings; reputational risk; failure or timing delays for projects to be registered, validated and ultimately developed and for emission reductions or removals to be verified and carbon credits issued (and other risks associated with carbon credits standards and registries); foreign operations and political risks including actions by governmental authorities, including changes in or to government regulation, taxation and carbon pricing initiatives; uncertainties and ongoing market developments surrounding the validation and verification requirements of the voluntary and/or compliance markets; due diligence risks, including failure of third parties’ reviews, reports and projections to be accurate; dependence on project partners, operators and owners, including failure by such counterparties to make payments or perform their operational or other obligations to the Company in compliance with the terms of contractual arrangements between the Company and such counterparties; failure of projects to generate carbon credits, or natural disasters such as flood or fire which could have a material adverse effect on the ability of any project to generate carbon credits; volatility in the market price of the Company’s common shares or warrants; the effect that the issuance of additional securities by the Company could have on the market price of the Company’s common shares or warrants; global health crises, such as pandemics and epidemics; and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s Annual Information Form dated as of March 27, 2024 filed on SEDAR+ at http://www.sedarplus.ca.

    Any forward-looking information speaks only as of the date of this news release. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.

    The MIL Network

  • MIL-OSI United Kingdom: Department for Education establishes Science Advisory Council

    Source: United Kingdom – Executive Government & Departments

    New team of experts to provide the latest scientific advice across a range of specialisms to support the department’s work.

    A panel of scientific experts is set to provide education policy makers with advice on strategic and emerging issues through a new Science Advisory Council, the Department for Education announced today (Thursday 17 October). 

    Professor Russell Viner, the Department for Education’s Chief Scientific Adviser, has established a team of 12 experts with a range of specialisms to ensure access to the best and latest scientific advice – helping the department’s work to break down the barriers to opportunity by protecting children and ensuring the delivery of higher standards of education, training and care. 

    Led by Professor Dame Athene Donald as chair, the independent panel will provide scientific advice to the Department for Education on matters relevant to its policy and operations. This will include areas such as early identification and support of children with Special Educational Needs and Disabilities (SEND), mental health support, online harms prevention, a sustainable and secure school estate and Artificial Intelligence and education technology.  

    The Council will also work with the Chief Scientific Adviser to identify and share emerging scientific trends with officials and facilitate effective links between the department and the wider scientific community. 

    Professor Russell Viner, Chief Scientific Adviser at the Department for Education, said: 

    We are the department for opportunity, working to deliver better life chances for all – and that means being at the forefront of cutting-edge scientific evidence to ensure we are doing everything we can to break the link between background and success. 

    We must keep pace with technological and scientific advancements if we are to deliver the highest standards for the people we serve. Science alone can’t address the challenges the department faces – but it can inform robust, evidence-informed decision making.

    Chair Professor Dame Athene Donald, Professor Emerita of Experimental Physics and former Master of Churchill College, University of Cambridge, will be supported by Deputy Chair, Professor Mark Mon-Williams. Mark is the Chair of Cognitive Psychology at the University of Leeds and the Founder Director of the Centre of Applied Education Research. 

    The other ten members have expertise in fields including economics, social science, statistics, operational research and engineering, physical and life sciences, ethics, and data science. Between them they have worked on studies looking at school health interventions, the impact of AI on learning, how digital technologies affect adolescent mental health, how childhood circumstances influence child development and early interventions. 

    Plenary meetings will be held quarterly and will include attendance by the Chief Scientific Adviser, a non-executive board member and other relevant officials. Smaller, task-relevant meetings and workshops will occur as needed in response to departmental requests and needs.

    The panel members are: 

    • Chair: Professor Dame Athene Donald, DBE, FRS, Professor Emerita of Experimental Physics and former Master of Churchill College, University of Cambridge.  

    • Deputy Chair: Professor Mark Mon-Williams, Chair of Cognitive Psychology, University of Leeds.  

    • Professor Chris Bonell, Professor of Public Health & Sociology, London School of Hygiene and Tropical Medicine.  

    • Professor William J. Browne, Professor of Statistics & Head of the School of Education, University of Bristol.  

    • Dr Claire Crawford, Associate Professor at the Centre for Education Policy and Equalising Opportunities, University College London.  

    • Michael Cribb, Chartered Structural Engineer and Associate Director, Arup.  

    • Dr Dougal Hargreaves, Houston Reader in Paediatrics & Population Health, Imperial College London.  

    • Dr Sonya Krutikova, Associate Professor of Economics, University of Manchester, & Deputy Research Director, Institute for Fiscal Studies.  

    • Professor Rose Luckin, Professor Emeritus of Learner Centred Design, University College London.  

    • Dr Amy Orben, Leader of the Digital Mental Health Group at the MRC Cognition and Brain Sciences Unit, University of Cambridge.  

    • Professor Paul Ramchandani, LEGO Professor of Play in Education, Learning and Development, University of Cambridge. 

    • Professor Michael J. Reiss, Professor of Science Education at the Institute of Education, University of London & University College London.

    DfE media enquiries

    Central newsdesk – for journalists 020 7783 8300

    Updates to this page

    Published 17 October 2024

    MIL OSI United Kingdom

  • MIL-OSI: Transocean Ltd. Announces $193 Million Ultra-Deepwater Drillship Contract

    Source: GlobeNewswire (MIL-OSI)

    STEINHAUSEN, Switzerland, Oct. 17, 2024 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced a one-year contract for the Deepwater Conqueror with an undisclosed operator in the U.S. Gulf of Mexico. The contract is expected to commence in October 2025 and contribute approximately $193 million in backlog, including additional services.

    About Transocean

    Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.

    Transocean owns or has partial ownership interests in and operates a fleet of 34 mobile offshore drilling units, consisting of 26 ultra-deepwater floaters and eight harsh environment floaters.

    Forward-Looking Statements

    The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain words such as “possible,” “intend,” “will,” “if,” “expect,” or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are beyond our control, and in many cases, cannot be predicted. As a result, actual results could differ materially from those indicated by these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out-of-service time, sales of drilling units, the cost and timing of mobilizations and reactivations, operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, and other factors, including those and other risks discussed in the company’s most recent Annual Report on Form 10-K for the year ended December 31, 2023, and in the company’s other filings with the SEC, which are available free of charge on the SEC’s website at: http://www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in our expectations or beliefs with regard to the statement or any change in events, conditions or circumstances on which any forward-looking statement is based, except as required by law. All non-GAAP financial measure reconciliations to the most comparative GAAP measure are displayed in quantitative schedules on the company’s website at: http://www.deepwater.com.

    This press release, or referenced documents, do not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and do not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”) or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean.

    Analyst Contact:
    Alison Johnson
    +1 713-232-7214

    Media Contact:
    Pam Easton
    +1 713-232-7647

    The MIL Network

  • MIL-OSI Europe: Germany: EIB backs Vay’s launch of teledriven car-sharing services

    Source: European Investment Bank

    Vay

    • The EIB is lending €34 million to German remote-driving company Vay.
    • Berlin-based Vay is set to launch commercial services in Europe.
    • The investment is backed by the European Union’s InvestEU guarantee programme.

    The European Investment Bank (EIB) is lending €34 million to German teledriving technology startup Vay to help it develop its operations in Europe. The EIB loan will enable the Berlin-based company to accelerate the development of technology that enables a vehicle to be safely driven on city streets by a professionally trained human driver located at a remote teledrive station. Vay launched its first commercial service in the US city of Las Vegas in January 2024.

    Vay plans to offer door-to-door car sharing in more cities in Europe and North America, while it also develops business-to-business partnerships with car manufacturers and other strategic players in the sector. 

    “This investment once again demonstrates our commitment to supporting European tech pioneers with global ambitions, like Vay,” said EIB Vice-President Nicola Beer. “Developed here in Europe, their innovative technology opens up new ways to make passenger and goods transport more efficient while delivering clean, efficient and inclusive urban mobility in our cities.”

    Vay’s technology enables professionally trained teledrivers to drive vehicles to the customer’s pick-up location remotely. Once the car arrives, the user takes manual control and drives as with any regular vehicle. After the journey is complete, the user can exit without worrying about parking because a teledriver handles parking or drives the car to the next customer. The system offers more sustainable, door-to-door mobility at half the cost of traditional ride-hailing.

    Teledriving provides the distinct advantage of having a human driver remotely controlling the vehicle in real-time. As a result, the system of teledriven cars is simple to operate and offers a wide range of capabilities. This is different from fully autonomous vehicles, which face a greater number of technical and legal complexities.

    “We are proud that EIB has decided to invest in Vay as these funds will be instrumental in further developing our technology and supporting the company’s growth,” said Co-founder and Chief Executive Officer of Vay Thomas von der Ohe. “We share the same goal and are committed to promoting economic development within the European Union. Moreover, this investment will play a crucial role in strengthening the confidence and trust that EU regulators, partners and consumers have in Vay, paving the way for the commercial rollout of our services in European cities.”

    Vay is the only company in Europe to operate on public roads without a safety driver. At the start of 2024, it expanded its reach by launching a commercial teledriving service in Las Vegas, establishing itself as a pioneer in teledriven vehicles. Committed to creating safer, more sustainable and liveable cities, Vay leverages its teledriving technology to optimise the use of its electric fleet – potentially reducing the number of cars on roads.

    Vay is actively engaging with several cities and states across Europe and the United States to explore future launches of its teledriving service. In 2023, the company successfully conducted test drives without a safety driver on public roads in Hamburg, Germany. Following that significant milestone, Vay has been working closely with German authorities to prepare for the commercial launch of its service in Hamburg.

    The EIB loan is supported by the European InvestEU programme, which aims to trigger more than €372 billion in additional investment in new technologies until 2027. The deal is aligned with the InvestEU objective of promoting research, development and innovation.

    Background information

    The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. Its key priorities are climate and the environment, development, innovation and skills, small and medium companies (SMEs), infrastructure and cohesion. It works closely with other EU institutions to foster European integration, promote the development of the European Union and support EU policies in more than 140 countries worldwide.

    The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

    EIB venture debt is a quasi-equity investment product suitable for early and growth stage ventures, combining a long-term loan with an instrument linking the return to the performance of the company. The EIB has made over  100 venture debt investments since 2015 across Europe, totalling over €2.1  billion. With the backing of InvestEU, the EIB aims to support European ventures and scale-ups in the cleantech, deeptech and life sciences sectors.

    Vay develops automotive-grade technology for remote driving (“teledriving”), paving the way for sustainable and driverless mobility services. In February 2023, Vay became Europe’s first and only company to operate driverless vehicles on public roads. In January 2024, Vay launched its first commercial mobility service in Las Vegas, USA. Founded in Berlin in 2018 by Thomas von der Ohe, Fabrizio Scelsi, and Bogdan Djukic, Vay has 150+ employees and offices in Berlin, Hamburg, and Las Vegas, USA.

    Vay raised a USD 95m Series B funding round, attracting investors worldwide. These include Kinnevik, Coatue, Eurazeo, Atomico, La Famiglia, and Creandum, as well as prominent business angels such as former Alphabet CFO Patrick Pichette, former member of the Management Board for R&D, Design, CTO of Audi Peter Mertens and Spotify’s Chief Technology & Chief Product Officer Gustav Söderström. In 2024, Vay received a EUR 34m investment from the European Investment Bank (EIB).

    MIL OSI Europe News

  • MIL-OSI Europe: Press release – European Parliament Press Kit for the European Council of 17 and 18 October 2024

    Source: European Parliament

    European Parliament President Roberta Metsola will represent the European Parliament at the summit, where she will address the heads of state or government at 10.00 and hold a press conference after her speech.

    When: Press conference at around 11.00 on 17 October

    Where: European Council press room and via Parliament’s webstreaming or EbS.

    At their meeting in Brussels, heads of state or government will discuss how the EU can continue supporting Kyiv against Russian aggression, and the EU’s response to the latest events in the Middle East, where Israeli forces continue their attacks on Gaza and in Lebanon, while Iran has launched missiles against Israel. EU leaders will also focus on making the European economy more competitive, following the publication of Mario Draghi’s report, which calls for a boost in public investment and wide-ranging economic reforms. They will also discuss ways to manage migration flows and ensure border protection, climate change and biodiversity, and the situation in Georgia, Moldova, Venezuela and Sudan.

    Hamas terrorist attacks against Israel / Escalating violence in the Middle East

    President Metsola marked the one-year anniversary of terrorist attacks in Israel at the opening of the 7-10 October plenary session in Strasbourg. Recalling the horror of that day “that will live in infamy”, President Metsola said nothing could ever justify the indiscriminate mass murder, rape, kidnapping and torture that occurred one year ago. Since then, too few have been able to make it back to their loved ones – “this house will continue to do what we can to help bring them all home”, she said.

    The 7 October attacks triggered a cycle of war, death and devastation that has seen thousands killed in Gaza, and instability across the region, President Metsola stated. In remembering all those lost and taken, the President added that “Parliament’s calls for the immediate release of the remaining hostages will remain steadfast, our calls for ceasefire will remain resolute, and our efforts towards de-escalation will remain strong.” The work for real, dignified, long-term and sustainable peace will remain unwavering, she concluded. MEPs held a minute of silence in memory of all the innocent lives lost.

    In a resolution adopted on 25 April, MEPs strongly condemn the Iranian drone and missile attack on Israel and call for further sanctions against Iran. Parliament voices serious concern over the escalation and threat to regional security. MEPs reiterate their full support for the security of the State of Israel and its citizens and condemn the simultaneous rocket launches carried out by Iran’s proxies Hezbollah in Lebanon and Houthi rebels in Yemen against the Golan Heights and Israeli territory before and during the Iranian attack.

    At the same time, they deplore the attack on the Iranian consulate in the Syrian capital Damascus on 1 April, which is widely attributed to Israel. The resolution recalls the importance of the principle of the inviolability of diplomatic and consular premises, which must be respected in all cases under international law.

    Further reading

    Parliament marks one year from the October 7th attacks in Israel

    Parliament condemns Iran’s attack on Israel and calls for de-escalation

    Parliament calls on Israel to open all crossings to Gaza for humanitarian aid

    Israel-Hamas war: MEPs call for a permanent ceasefire under two conditions


    MEPs condemn Hamas attack on Israel and call for a humanitarian pause

    Resolution: The despicable terrorist attacks by Hamas against Israel, Israel’s right to defend itself in line with humanitarian and international law and the humanitarian situation in Gaza

    President Metsola at the European Council: EU must remain coherent and united

    Leading MEPs condemn attack by Hamas terrorists against Israel

    MEPs to contact

    David McALLISTER, (EPP, DE), Chair of the Committee on Foreign Affairs

    Marie-Agnes STRACK-ZIMMERMANN (Renew, DE), Chair of the Subcommittee on Security and Defence

    Russia’s war against Ukraine

    On 14 October, MEPs on the Trade Committee endorsed the Commission’s proposal to support Ukraine with an exceptional Macro-Financial Assistance (MFA) loan of up to €35 billion. This is the EU’s contribution under the G7’s initiative to support Ukraine with up to $50 billion (approximately €45 billion) to address Ukraine’s urgent financing needs in the face of Russia’s brutal war of aggression. The repayment of this exceptional MFA loan and of the loans from other G7 countries will come from the extraordinary revenues made from immobilised Russian Central Bank assets, and enabled by the Ukraine Loan Cooperation Mechanism, newly established under the Commission’s proposal. The plenary vote is scheduled during next week’s session in Strasbourg.

    In a resolution adopted on 19 September, MEPs want EU countries to lift current restrictions hindering Ukraine from using Western weapons systems against legitimate military targets in Russia. The text states that if current restrictions are not lifted, Ukraine cannot fully exercise its right to self-defence and remains exposed to attacks on its population and infrastructure. Parliament underlines that insufficient deliveries of ammunition and restrictions on their use risks offsetting the impact of efforts made to date, and deplores that EU countries are offering less bilateral military aid to Ukraine. MEPs reiterate their call for member states to fulfil their March 2023 commitment to deliver one million rounds of ammunition to Ukraine, and to accelerate the delivery of weapons, air defence systems and ammunition, including TAURUS missiles. They also restate their position that all EU countries and NATO allies should collectively and individually commit to annual military support for Ukraine of no less than 0.25% of their GDP.

    While calling on the EU and its member states to actively work towards achieving the broadest possible international support for Ukraine and identifying a peaceful solution to the war, MEPs say that any resolution must be based on full respect for Ukraine’s independence, sovereignty and territorial integrity. They also view holding Russia accountable for war crimes and reparations, and other payments by Moscow, as essential aspects of any solution. To this end, MEPs want the EU and like-minded partners to establish a sound legal regime to confiscate Russian state-owned assets frozen by the EU as part of efforts to compensate Ukraine for the massive damage it has suffered.

    With Russia’s war against Ukraine raging on, Parliament reconfirmed on 17 July its view that the EU must continue to support Kyiv for as long as it takes until victory. The resolution, which sets out the newly-elected European Parliament’s first official position on Russia’s war of aggression against Ukraine, restates MEPs’ continued support for Ukraine’s independence, sovereignty, and territorial integrity within its internationally recognised borders. It calls on the EU to maintain and extend its sanctions policy against Russia and Belarus, monitor and review its effectiveness and impact, and systematically tackle the issue of EU-based companies, third parties, and third countries that circumvent sanctions.

    Further reading

    Ukraine: Trade Committee endorses financial support backed by Russian assets

    MEPs: Ukraine must be able to strike legitimate military targets in Russia

    Newly elected Parliament reaffirms its strong support for Ukraine

    MEPs approve trade support measures for Ukraine with protection for EU farmers

    Joint Statement by the Presidents of the European Union Institutions on the occasion of the 2 year anniversary of the Russian invasion of Ukraine

    Parliament calls on the EU to give Ukraine whatever it needs to defeat Russia

    EU sanctions: new rules to crack down on violations

    MEPs: EU must actively support Russia’s democratic opposition

    Yulia Navalnaya: “If you want to defeat Putin, fight his criminal gang”

    Debate 12 March 2024: Preparation of the European Council meeting of 21 and 22 March 2024

    Debate 13 March 2024: Need to address the urgent concerns surrounding Ukrainian children forcibly deported to Russia

    Parliament wants tougher enforcement of EU sanctions against Russia

    A long-term solution for Ukraine’s funding needs

    How the EU is supporting Ukraine

    EU stands with Ukraine

    MEPs to contact

    David McALLISTER, (EPP, DE) Chair of the Committee on Foreign Affairs

    Marie-Agnes STRACK-ZIMMERMANN (Renew, DE), Chair of the Subcommittee on Security and Defence

    Karin KARLSBRO (Renew, SE), rapporteur on macro-financial assistance to Ukraine

    Competitiveness

    On 17 September, Mario Draghi outlined his blueprint for making Europe more competitive through closer cooperation in core areas and massive investment in shared objectives.

    Mr Draghi said that the EU needed to focus on three crucial issues: closing the innovation gap with the US and China; developing a joint plan to link the goal of decarbonisation with increased competitiveness; and boosting Europe’s security and reducing its dependence on foreign economic powers. A fit-for-purpose competitiveness agenda would require annual funding of between EUR 750 – EUR 800 billion for projects whose objectives were already agreed upon by the EU. Some of this money could come from private sources, but some would also need to be secured through public investment, including by new common debt issued specifically to fund key joint projects, Mr Draghi said.

    In a debate following Mr Draghi’s address, many MEPs agreed with his analysis that the EU economy must urgently change course. The EU should focus, they argued, on competition and innovation in key industries, along with more public and private investments in social, green and digital transformations. Some MEPs called for greater sovereignty and freer markets, and stressed that fighting climate change sabotages the EU economy. Others observed that growth is compatible with clean innovative technologies and social investment, to help citizens to learn new skills.

    Further reading

    Draghi to MEPs: “Europe faces a choice between exit, paralysis, or integration”

    MEPs adopt plans to boost Europe’s Net-Zero technology production

    New EU fiscal rules approved by MEPs

    MEPs to contact

    Borys Budka (EPP, PL), Chair Committee on Industry, Research and Energy

    Migration

    During a press point with the Estonian Prime Minister on 16 October, EP President Roberta Metsola stressed that it is “important that we implement the migration pact. We need to be fair with those eligible for protection, firm with those who are not, and harsh with smugglers and malign states like Belarus or Russia who seek to exploit those most vulnerable. Only a coordinated European approach can ensure the integrity of our borderless Schengen area.”

    On 9 October, Parliament debated how to strengthen the security of Europe’s external borders and the need for a comprehensive approach and enhanced Frontex support. You can watch the debate here. On 7 October, MEPs discussed the reintroduction of internal border controls in a number of member states and its impact on the Schengen Area. Watch the debate here.

    On 10 April, MEPs approved the new Migration and Asylum Pact. The package consists of ten legislative texts to reform the European migration and asylum policy and was agreed with EU member states. You can find the adopted texts here and watch the plenary debate here.

    Further reading

    MEPs approve the new Migration and Asylum Pact

    MEP to contact

    Javier ZARZALEJOS (EPP, ES), Chair of the Committee on Civil Liberties, Justice and Home Affairs

    Foreign affairs: Georgia, Moldova, Venezuela, Sudan

    In a resolution adopted on 9 October, MEPs say current democratic backsliding in Georgia effectively puts the country’s integration with the EU on hold. The text highlights how the ruling Georgian Dream party has pushed an increasingly authoritarian agenda, including on media freedom and LGBTQ+ rights. Coupled with changes to the country’s electoral legislation and growing anti-EU rhetoric, MEPs say these laws violate the freedom of expression, censor media, impose restrictions on critical voices in civil society and the NGO sector and discriminate against vulnerable people. They also make clear that unless the legislation is rescinded, progress cannot be made in Georgia’s relations with the EU.

    Against the backdrop of the continuing decline of Georgia’s democracy, Parliament demands that all EU funding provided to the Georgian government be frozen until the undemocratic laws are repealed. Any future funding of the Georgian government can only be disbursed under strict conditions, MEPs argue.

    On 9 October, MEPs adopted a resolution issuing a strong warning against continued Russian attempts to derail Moldova’s pro-European trajectory. The text vehemently condemns Russia’s escalating malicious activities, interference and hybrid operations ahead of Moldovans going to the polls to vote in the country’s presidential election and constitutional referendum on EU integration on 20 October. MEPs highlight the role played by a plethora of malicious actors, including pro-Russian Moldovan oligarchs and Russia’s state-funded RT network, in carrying out voter fraud schemes as well as cyber operations and information warfare. They also call on the EU and its member states to ensure that all necessary assistance is provided to Moldova to strengthen its institutional mechanisms and ability to respond to hybrid threats.

    The European Parliament reaffirms its support for Moldova’s path towards EU accession, calling on the European Commission to include the country in the Instrument for Pre-Accession Assistance (IPA III) and to prioritise funding for EU candidate countries in the next Multiannual Financial Framework (MFF) for 2028-2034. With EU accession talks with Moldova already having begun, MEPs call for a faster screening process and the timely organisation of the subsequent intergovernmental conferences.

    In a resolution adopted on 19 September, Parliament says the EU should do its utmost to ensure that Edmundo González Urrutia, the legitimate and democratically elected President of Venezuela, can take office on 10 January 2025. MEPs “strongly condemn and fully reject the electoral fraud orchestrated by the regime-controlled National Electoral Council, which refused to make public the official result.” They recognise Edmundo González Urrutia as the country’s legitimate and democratically elected president, and María Corina Machado as the leader of the democratic forces in Venezuela. They also strongly condemn the Venezuelan Government’s issuance of an arrest warrant for Mr González.

    On 8 October, MEPs held a plenary debate on the situation in Sudan. You can watch the debate here.

    Further reading

    Parliament says Georgia’s democracy is at risk

    Resolution: The democratic backsliding and threats to political pluralism in Georgia

    Parliament condemns Russia’s interference in Moldova

    Resolution: Strengthening Moldova’s resilience against Russian interference ahead of the upcoming presidential elections and a constitutional referendum on EU integration

    Venezuela: MEPs recognise Edmundo González as President

    Resolution: Situation in Venezuela

    MEPs to contact

    David McALLISTER, (EPP, DE) Chair of the Committee on Foreign Affairs

    Nils UŠAKOVS (S&D, LV), Chair of the Delegation to the EU-Armenia Parliamentary Partnership Committee, the EU-Azerbaijan Parliamentary Cooperation Committee and the EU-Georgia Parliamentary Association Committee

    Climate change and biodiversity

    A Parliament delegation will attend the UN Climate Change Conference (COP29) in Baku, Azerbaijan between 18 and 22 November 2024. MEPs will also adopt a resolution during the 13-14 November plenary session, which will constitute the delegation’s mandate for talks with international partners.

    Parliament will also send a delegation to the UN Biodiversity Conference (COP16) in Cali, Colombia, between 28 and 31 October 2024.

    MEPs to contact

    Lídia PEREIRA (EPP, PT), Chair of the delegation to the COP29 UN Climate Change Conference, Baku, Azerbaijan

    Antonio DECARO (S&D, IT), Chair of the Committee on the Environment, Public Health and Food Safety

    MIL OSI Europe News

  • MIL-OSI Europe: MOTION FOR A RESOLUTION on the urgent need to revise the Medical Devices Regulation – B10-0125/2024

    Source: European Parliament

    B10‑0125/2024

    European Parliament resolution on the urgent need to revise the Medical Devices Regulation

    (2024/2849(RSP))

    The European Parliament,

      having regard to Article 168 of the Treaty on the Functioning of the European Union, which provides that ‘a high level of human health protection shall be ensured in the definition and implementation of all Union policies and activities’,

     having regard to Regulation (EU) 2017/745 of the European Parliament and of the Council of 5 April 2017 on medical devices, amending Directive 2001/83/EC, Regulation (EC) No 178/2002 and Regulation (EC) No 1223/2009 and repealing Council Directives 90/385/EEC and 93/42/EEC (MDR)[1], and Regulation (EU) 2017/746 of the European Parliament and of the Council of 5 April 2017 on in vitro diagnostic medical devices and repealing Directive 98/79/EC and Commission Decision 2010/227/EU (IVDR)[2],

     having regard to the Commission’s 2023 implementation report on the MDR/IVDR[3],

     having regard to the European Medicines Agency’s 2023 Annual Report and its review on market access and safety concerns for medical devices[4],

     having regard to Rule 136(2) of its Rules of Procedure,

    A. whereas medical devices and in vitro diagnostic medical devices play a crucial role in modern healthcare, directly affecting the health, safety and well-being of millions of patients across the EU;

    B. whereas the introduction of the MDR and the IVDR was intended to strengthen the regulatory framework for medical devices and in vitro diagnostic medical devices, ensuring higher standards of safety, transparency and clinical performance, while also fostering innovation in the sector;

    C. whereas despite these aims, significant challenges have been encountered in implementing the MDR and the IVDR, not only leading to delays but also resulting in failures to achieve certification and approval of medical devices and in vitro diagnostic medical devices, particularly impacting small- and medium-sized enterprises (SMEs), as well as resulting in shortages of medical devices and in vitro diagnostic medical devices, thus restricting patient access to innovative therapeutic and diagnostic technologies;

    D. whereas many stakeholders, especially including SMEs, notified bodies and healthcare providers, have reported difficulties in navigating the complex and costly regulatory procedures under the current MDR and IVDR framework, with potential risks posed to the continuous availability of life-saving medical devices and critical in vitro diagnostic tests in Europe as manufacturers reduce their product portfolios and withdraw from the EU;

    E. whereas recent scientific and market data point to concerns about shortages of capacity among notified bodies, leading to bottlenecks in the certification process, as well as a lack of clarity around the interpretation of several key provisions of the MDR and the IVDR;

    F. whereas the COVID-19 pandemic further exposed vulnerabilities in the EU’s supply chain for medical devices and in vitro diagnostic medical devices, highlighting the need for more flexible and efficient regulatory mechanisms to ensure timely access to essential devices during public health emergencies;

    G. whereas given the rapid pace of innovation, including advances in digital health, artificial intelligence and personalised medicine, there is an urgent need to revise the MDR and the IVDR in order to accommodate new technologies and ensure that the regulatory framework remains fit for purpose;

    H. whereas practical observations following the adoption of the MDR and the IVDR indicate that significant financial and administrative barriers for orphan and innovative devices stem from the complex procedures of conformity assessment, including obtaining scientific advice, fees required by notified bodies, the extensive and unpredictable duration of the conformity assessment process, and the associated costs;

    I. whereas the MDR and the IVDR also present challenges for maintaining equitable access to devices across all of the Member States, with patients in less economically developed regions facing additional delays in accessing new technologies;

    1. Calls on the Commission to put forward, in the first hundred days of the new mandate, a proposal for a systematic revision of Medical Devices Regulation (EU) 2017/745 (MDR) and In Vitro Diagnostic Medical Devices Regulation (EU) 2017/746 (IVDR);

    2. Recognises the significant contributions of the MDR and the IVDR to enhancing the safety and quality of medical devices, but stresses the need for an urgent review of some of its provisions to address the delays and bottlenecks that are currently hampering access to medical technologies; underlines that the review must aim to make full use of the mechanisms in Article 36(3) MDR to adopt implementing acts in order to resolve issues of divergent interpretation and of practical application to streamline the regulatory process, improve transparency and reduce the bureaucratic burden by eliminating any unnecessary administrative work for notified bodies and manufacturers, particularly SMEs, without compromising on patient safety;

    3. Stresses the importance of increasing the capacity of notified bodies in order to ensure the timely certification of medical devices and in vitro diagnostic medical devices; urges the Member States and the Commission to implement measures that significantly increase the speed and efficiency of these bodies in order to address the critical demand in the medical device sector;

    4. Advocates for the abolition of re-certification for lower-risk products, including Class IIa and certain Class IIb devices, which should continue to be valid subject to appropriate surveillance by the notified body;

    5. Asks the Commission also to consider the abolition of re-certification for implantable devices in Class IIb and devices in Class III, provided ongoing compliance with post-market surveillance and periodic safety update reports demonstrate that the devices perform as intended;

    6. Asks the Commission also to consider the abolition of repeated re-certification for in-vitro diagnostic medical devices after an initial re-certification after five years, subject to appropriate surveillance by the notified body;

    7. Advocates for the creation of transparent, harmonised, maximum durations for procedural steps in conformity assessments by notified bodies, which would create legal certainty for manufacturers regarding the market access procedure and its duration within the EU;

    8. Demands the transparency and EU-wide harmonisation of notified bodies’ fees and fee structures, published in a standardised EU dashboard to allow economic operators to compare notified bodies and make informed choices, ensuring that fees remain a fair compensation for the public service provided;

    9. Calls for a revision of the qualification criteria for persons responsible for regulatory compliance (PRRCs) in the MDR and the IVDR; recommends that the criteria be changed to allow practical experience and training as an alternative to academic qualifications, thereby ensuring that a broader range of competencies are considered for the qualification of PRRCs;

    10. Calls for the regulatory adaptation of the MDR and the IVDR to accommodate new technologies; recognises that the current framework of the MDR and the IVDR does not fully accommodate rapid advancements in medical technology, especially in fields such as digital health, AI-driven diagnostics and personalised medical devices; calls for amendments to the MDR and the IVDR to establish clear and fast-track pathways for the approval of innovative technologies, ensuring their safety and performance; proposes the introduction of a prioritisation procedure for innovative medical devices and in vitro diagnostic medical devices, including a fast-track approval process for breakthrough devices that are potentially life-saving or otherwise significantly improve the standard of care;

    11. Calls for clear definitions of ‘orphan device,’ ‘orphan population’ and ‘orphan subpopulation’, as determined by the Medical Device Coordination Group in the MDR and the IVDR, to be given in order to provide legal clarity and facilitate the adoption of harmonised measures across the EU, thereby ensuring a high level of safety, quality and transparency in the granting of market access to critical medical devices and in vitro diagnostic medical devices;

    12. Calls for the introduction of simplified rules for niche market (and orphan) medical devices analogous to those in other jurisdictions, such as the US; emphasises the need for less burdensome conformity assessment procedures tailored to medical devices and in vitro diagnostic medical devices serving relatively small markets, such as products for the treatment of children or rare diseases;

    13. Urges the creation of a register to monitor and ensure the safety and efficacy of these niche and orphan devices; suggests, further, the creation of EU-wide clinical registries, or the amalgamation of data from current national registries, in order to gather comprehensive clinical data on small patient groups that benefit from the availability of orphan devices; notes that this initiative aims to enhance the overall quality of care and support manufacturers in collecting necessary clinical data, especially in indications where multiple orphan devices are available, allowing for combined treatment data to be evaluated and published regularly; observes that the goal is to assure maximum transparency and safety while allowing a streamlined and less bureaucratic approach for niche and orphan devices;

    14. Recognises the disproportionate regulatory burden faced by SMEs, which are responsible for the majority of products in the medical device and in vitro diagnostic medical device sector; highlights that this burden threatens to stifle innovation and reduce competition; urges the Commission to develop specific measures to support SMEs, including the provision of model application documents and forms, financial assistance, regulatory guidance and tailored certification pathways that reduce costs and complexity while maintaining high standards of patient safety; proposes the reduction of conformity assessment costs for SMEs by implementing specific provisions such as a reduction in fees, deferral of the payment of fees and provision of administrative assistance through a central EU contact point;

    15. Calls for enhanced flexibility in the regulatory process during public health emergencies; stresses the need for a dynamic regulatory framework capable of a rapid response to public health crises, such as pandemics or unforeseen emergencies; urges the Commission to establish emergency provisions that allow for the temporary streamlining of certification processes for critical medical devices, ensuring that such adjustments do not compromise safety standards, thereby facilitating timely access to essential devices during times of crisis; calls for the Commission, in cooperation with the Health Emergency Preparedness and Response structure, to establish a non-exhaustive list of critical medical devices;

    16. Calls for the establishment of a central governance structure or medical device office within the Commission’s Directorate-General for Health to centralise responsibilities and powers in the designation management and surveillance of notified bodies, the harmonisation of administrative practices, the development of guidance on the implementation and application of EU regulations applicable to medical devices and in vitro diagnostic medical devices, and the coordination of the applicability of other EU regulations to medical devices and in vitro diagnostic medical devices with other directorates-general of the Commission;

    17. Calls for a stronger and more harmonised post-market surveillance system that makes use of real-world data and patient feedback to identify and address safety issues more rapidly; encourages, therefore, the establishment of a centralised EU database for post-market data as part of the module for vigilance and post-market surveillance of the European Database on Medical Devices that ensures transparency and facilitates cross-border cooperation in monitoring device performance and addressing risks;

    18. Calls on the Member States to inform the central governance structure or office of the results of notified body audits and specific instructions issued to notified bodies concerning administrative practices and conformity assessment procedures; highlights the need for this central governance structure or office to coordinate Member States’ market surveillance and vigilance activities in order to enhance the efficiency of market surveillance across the EU;

    19. Urges the Commission to strengthen international cooperation on the simplification, assimilation and mutual recognition of national certification processes, in particular with the US Food and Drug Administration;

    20. Calls for an appropriate transition period before the implementation of new rules; emphasises the need to set a transition period before the enforcement of new regulations that would allow enough time for manufacturers to prepare and for the necessary institutional infrastructure to be established; notes that this measure ensures that all stakeholders are fully equipped to meet the regulatory requirements without compromising the overarching objectives of the legislation;

    21. Instructs its President to forward this resolution to the Council, the Commission and the governments and parliaments of the Member States.

     

     

     

    MIL OSI Europe News

  • MIL-OSI: CIB Marine Bancshares, Inc. Announces Final Redemption of Preferred Stock

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, Wis., Oct. 17, 2024 (GLOBE NEWSWIRE) — CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH) announces the full and final redemption of all preferred stock pursuant to its Second Amended and Restated Articles of Organization. Effective October 31, 2024, approximately 14,633 of CIB Marine’s Series A Preferred shares and 1,610 of Series B Preferred shares will be redeemed at $825 per share. This redemption is a full redemption of all outstanding preferred stock; there will be no preferred stock remaining in the Company’s capital structure. The $13.4 million redemption will be funded by cash on hand resulting from a distribution from the Company’s wholly-owned subsidiary, CIBM Bank; a distribution from the Company’s non-bank subsidiary, CIB Marine Capital, LLC; and a portion of the $10 million subordinated debt offering completed in the first quarter of 2022. Documentation will be mailed to all preferred shareholders of record by the Company’s redemption agent, Computershare Trust Company, N.A., on or about October 17, 2024.

    Mr. J. Brian Chaffin, President and CEO of the Company stated, “The October 31st redemption of all remaining preferred stock is a great achievement for the Company and all our shareholders. This transaction increases liquidity for the remaining preferred shares and benefits our common shareholders in two ways: by eliminating the potentially dilutive convertible Series B shares and redeeming all outstanding preferred stock at a discounted rate. The $825 per share redemption price is below both its balance sheet carrying value of $850 per share and its liquidation preference value of $1,000 per share.”

    In addition, Mr. Mark Elste, Chaiman of the Board of Directors, noted. “This is a significant accomplishment that the Board of Directors and management have been focused on for more than four years. The redemption of all preferred stock simplifies the Company’s capital structure to only one form of equity: common stock with full voting rights. It opens up opportunities to continue building shareholder value, the likes of which have been constrained by the outstanding preferred stock.”

    CIB Marine Bancshares, Inc. is the holding company for CIBM Bank, which operates nine banking offices Illinois, Wisconsin, and Indiana, and has mortgage loan officers and/or offices in ten states. More information on the Company is available at http://www.cibmarine.com, including recent shareholder letters, links to regulatory financial reports, and audited financial statements.

    FORWARD-LOOKING STATEMENTS
    CIB Marine has made statements in this release that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. CIB Marine intends these forward-looking statements to be subject to the safe harbor created thereby and is including this statement to avail itself of the safe harbor. Forward-looking statements are identified generally by statements containing words and phrases such as “may,” “project,” “are confident,” “should be,” “intend,” “predict,” “believe,” “plan,” “expect,” “estimate,” “anticipate” and similar expressions. These forward-looking statements reflect CIB Marine’s current views with respect to future events and financial performance that are subject to many uncertainties and factors relating to CIB Marine’s operations and the business environment, which could change at any time.

    There are inherent difficulties in predicting factors that may affect the accuracy of forward-looking statements.

    Stockholders should note that many factors, some of which are discussed elsewhere in this release and in the documents that are incorporated by reference, could affect the future financial results of CIB Marine and could cause those results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. These factors, many of which are beyond CIB Marine’s control, include but are not limited to:

    • operating, legal, execution, credit, market, security (including cyber), and regulatory risks;
    • economic, political, and competitive forces affecting CIB Marine’s banking business;
    • the impact on net interest income and securities values from changes in monetary policy and general economic and political conditions; and
    • the risk that CIB Marine’s analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.

    These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Forward-looking statements speak only as of the date they are made. CIB Marine undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are subject to significant risks and uncertainties and CIB Marine’s actual results may differ materially from the results discussed in forward-looking statements.

    FOR INFORMATION CONTACT:
    J. Brian Chaffin, President & CEO
    (217) 355-0900
    brian.chaffin@cibmbank.com

    The MIL Network

  • MIL-OSI: Banzai Announces Expanded Partnership with Salesforce, Today’s Industry Leading AI CRM Company for Smarter Webinar Campaigns

    Source: GlobeNewswire (MIL-OSI)

    Simplified Workflows and Real-Time Insights with Account Engagement Integration in Demio Give Salesforce Users the Tools They Need to Enhance Their Webinar Strategy

    SEATTLE, Oct. 17, 2024 (GLOBE NEWSWIRE) — Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, today announced significant enhancements to its Demio platform through deeper integration with Salesforce, the industry leading AI CRM company.

    These new features address key operational challenges faced by marketing teams, delivering an improved level of precision in webinar data management, from automated lead capture to real-time UTM tracking. Marketers leveraging this integration will not only see immediate efficiency gains but will also benefit from enhanced decision-making capabilities, thanks to cleaner, more accurate data pipelines.

    Key Enhancements Designed to Maximize Efficiency and Insight

    This integration addresses common pain points for Salesforce Account Engagement users by automating the syncing of webinar data—from contact information to UTM tracking—greatly reducing the time and effort required for manual processes. Marketers can now focus on optimizing campaigns with real-time insights, enabling data-driven adjustments with speed and precision. The seamless UTM tracking integration offers a comprehensive view of campaign performance across channels, while Demio’s smart list management feature ensures that webinar registrants are automatically added to targeted Salesforce Account Engagement lists, ensuring no lead slips through the cracks.

    Key capabilities include:

    • Automated List Management: Simplify the process by automatically syncing registrants to Salesforce Account Engagement, ensuring optimal engagement across the funnel.
    • Real-Time UTM Tracking: Gain holistic insights into campaign performance with real-time tracking at both session and individual contact levels.
    • Advanced Search for List Management: Quickly navigate extensive lists with Demio’s new auto-search feature, saving time and boosting productivity.
    • Custom Field Syncing: Ensure accurate and up-to-date information across platforms, enabling targeted segmentation and precision marketing.

    Joe Davy, CEO of Banzai, emphasized the power of this upgraded integration: “By deepening our connectivity with Pardot, we’re offering marketers a more scalable, data-rich experience. This isn’t just a product enhancement; it’s a strategy shift that will drive better outcomes with less effort.”

    A Future-Focused Solution for Salesforce Customers

    Banzai continues to innovate to ensure its solutions meet the evolving needs of marketing teams. By integrating powerful features directly into users’ workflows, this enhancement sets a new standard for what’s possible in webinar campaign management—paving the way for more strategic, data-driven marketing operations.

    About Salesforce

    Salesforce is the #1 AI CRM, empowering companies to connect with their customers in a whole new way through the power of CRM + AI + Data + Trust on one unified platform: Einstein 1. For more information visit: http://www.salesforce.com.

    About Banzai
    Banzai is a marketing technology company that provides essential marketing and sales solutions for businesses of all sizes. On a mission to help their customers achieve their mission, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Banzai customers include Square, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among thousands of others. Learn more at http://www.banzai.io. For investors, please visit https://ir.banzai.io/.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.’s (the “Company’s”): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company’s industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company’s ability to execute on its strategy. More detailed information about risk factors can be found in the Company’s Annual Report on Form 10-K and the Company’s Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release.

    Investor Relations
    Chris Tyson
    Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    BNZI@mzgroup.us
    http://www.mzgroup.us

    Media
    Rachel Meyrowitz
    Director, Demand Generation, Banzai
    media@banzai.io

    The MIL Network

  • MIL-OSI: Convex partners with EXL to accelerate operational excellence through data and technology

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) — EXL [NASDAQ: EXLS], a leading data analytics and digital operations and solutions company, was selected by Convex Group Limited (“Convex”), the international specialty insurer and reinsurer, for a multiyear engagement focused on accelerating delivery of its business operations. The program will improve efficiency and customer experience, delivering a more cost-effective, scalable and resilient operating model.

    As part of Convex’s strategically differentiated approach to outsourcing, EXL will help deliver the next phase of development in operational excellence and efficiency, enhancing workflows and delivering integrated data-enriched management information, analytics and AI across the breadth of the operating model. This will allow Convex to continue to maintain its client-centric focus and growth momentum while drawing on EXL’s deep expertise in insurance operations and market-proven AI and data capabilities. In addition, EXL’s multi-tower and multi-geography delivery centers and transformation center of excellence will support Convex’s requirements for flexible and adaptable access to evolving skills and resources.

    “We are excited to work closely with Convex to evolve their operating model, supporting better business decisions through data and technology while delivering greater scalability and efficiency in their operations,” said Vikas Bhalla, president, EXL and head of Insurance business. “Partnering with EXL will not only support Convex in its continued growth and deployment of current technologies but also help the organization leverage future technological advancements with speed and agility.”

    “We selected EXL as a strategic partner because we felt they aligned well with our values while demonstrating a strong capability and drive to leverage cutting-edge technology and data in the delivery of services,” said Adrian Spieler, chief operating officer at Convex. “EXL not only brings the London market experience but also the experience of implementing transformational solutions alongside transparency and high-quality management information into operations. We see this engagement as an accelerator for delivering operational excellence to our brokers and clients.”

    EXL works with more than 550 global insurers, re-insurers, brokers and Insurtech firms to leverage data and artificial intelligent based solutions to help our clients improve risk mitigation, reduce indemnity spend, enhance customer experience and lower service costs. With a 25-year heritage in the insurance industry, EXL’s global presence and deep insurance expertise help clients stay resilient and leverage the best-of-breed solutions to stay ahead.

    To learn more about EXL’s data-led approach to digital transformation, please visit here.

    About EXL
    EXL (NASDAQ: EXLS) is a leading data analytics and digital operations and solutions company. We partner with clients using a data and AI-led approach to reinvent business models, drive better business outcomes and unlock growth with speed. EXL harnesses the power of data, analytics, AI, and deep industry knowledge to transform operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have more than 55,000 employees spanning six continents. For more information, visit http://www.exlservice.com.

    Cautionary Statement Regarding Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL’s operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management’s experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
    © 2024 ExlService Holdings, Inc.  All rights reserved. For more information go to http://www.exlservice.com/legal-disclaimer

    Contacts
    Media
    Keith Little
    +1 703-598-0980
    media.relations@exlservice.com

    Investor Relations
    John Kristoff
    +1 212 209 4613
    IR@exlservice.com

    The MIL Network

  • MIL-OSI: LM Funding America, Inc.’s Bitcoin Holdings was Valued at $9.6 million in Monthly Update

    Source: GlobeNewswire (MIL-OSI)

    TAMPA, Fla., Oct. 17, 2024 (GLOBE NEWSWIRE) — LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a cryptocurrency mining and technology-based specialty finance company, today provided a preliminary, unaudited Bitcoin mining and operational update for the month ended September 30, 2024.

    Metrics *

    Three
    Months
    1
    stQtr.
    2024

    Three
    Months
    2
    ndQtr.
    2024

     

    One Month
    September 30,
    2024

    Three
    Months
    3
    rdQtr.
    2024

     

    Nine Months
    Ended September
    30, 2024

    Bitcoin Beginning Balance 95.1   163.4     135.7 160.4     95.1  
    Bitcoin Mined, net 86.4   44.1     6.6 18.4     148.9  
    Bitcoin Sold (18.0)   (47.0)     (36.5)     (101.5)  
    Service Fee (rounding) (0.1)   (0.1)     0.1     (0.2)  
    Bitcoin Holdings at Month End 163.4   160.4     142.3 142.3     142.3  
                   
    Approximate Miners Deployed at Month End 5,940   5,880     3,700     3,700  
    Approximate Miners In-Transit at Month End       2,200     2,200  
    Approximate Potential Hash Rate at Month End (PH/s) 614   639     639     639  

    *Unaudited

    The Company estimates that the value of its 142.3 Bitcoin holdings on September 30, 2024, was approximately $9.6 million, based on an estimated October 16, 2024 BTC price of $67,500.

    About LM Funding America
    LM Funding America, Inc. (Nasdaq: LMFA), operates as a cryptocurrency mining and specialty finance company. It operates through two segments, Specialty Finance and Mining Operations. The company has approximately 5,880 miners, electrified and actively mining Bitcoin, providing the company with approx. 639 petahash of mining capacity. The company was founded in 2008 and is based in Tampa, Florida. For more information, please visit https://www.lmfunding.com.

    Forward-Looking Statements
    This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guaranties of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company’s most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at http://www.sec.gov. These risks and uncertainties include, without limitation, uncertainty created by the risks of entering into and operating in the cryptocurrency mining business, uncertainty in the cryptocurrency mining business in general, problems with hosting vendors in the mining business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, the ability to finance and grow our cryptocurrency mining operations, our ability to acquire new accounts in our specialty finance business at appropriate prices, the potential need for additional capital in the future, changes in governmental regulations that affect our ability to collected sufficient amounts on defaulted consumer receivables, changes in the credit or capital markets, changes in interest rates, and negative press regarding the debt collection industry. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations.

    Contact:
    Crescendo Communications, LLC
    Tel: (212) 671-1021
    Email: LMFA@crescendo-ir.com

    The MIL Network

  • MIL-OSI: Astronaut Tim Peake to Headline Timeline’s Adviser 3.0 Conference 2025

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Oct. 17, 2024 (GLOBE NEWSWIRE) — Timeline is thrilled to announce the return of its flagship event, Adviser 3.0, on 15th May 2025 at Magazine London. This high-energy conference, designed to inspire and equip financial planners with actionable insights, will feature Major Tim Peake, renowned astronaut, as the headline speaker. He will be joined by industry heavyweights, including US leading expert on psychology of financial planning, Dr Meghaan Lurtz, together with sector experts Abraham Okusanya and Brett Davidson and a host of others.

    Attendees will have the chance to tailor their experience with over 20 varied sessions spread across five stages. The conference will tackle cutting-edge themes in financial planning such as technology, artificial intelligence, growth and profitability, wealth transfer, succession planning, client communications, leadership, marketing, and the economy. These topics will have practitioners at their core, ensuring content is relevant and applicable to today’s advisory firms.

    Adding a burst of colour and energy, the conference’s vibrant Rio Carnival theme will set the stage for a day filled with valuable insights, networking opportunities, and delicious food. The programme will run from 9:00am to 5:30pm, followed by a networking drinks reception and an unforgettable after-party that will carry on until 10:00 pm.

    Abraham Okusanya, CEO of Timeline and host of Adviser 3.0, shares his excitement: “We are thrilled to present such a rich and diverse line-up of speakers to the UK advice community. Major Tim Peake’s experiences are truly inspirational, and his insights will beautifully complement the practical sessions we have planned. After two years of learning and fine-tuning, we’re confident this year’s event will exceed all expectations. Tickets are on sale now – they won’t last, so don’t miss out on being part of something amazing.”

    For more information and to secure tickets, visit the Adviser 3.0 website.

    The MIL Network

  • MIL-OSI: Richtech Robotics Expands Agreement with Ghost Kitchens to Manage 20 Additional Walmart-Located Restaurants, Growing its Restaurant Operations Model

    Source: GlobeNewswire (MIL-OSI)

    Company’s subsidiary, AlphaMax Management LLC, will optimize operations through the use of robotics and AI cloud technology at restaurants across Arizona, Colorado, and Texas

    LAS VEGAS, Oct. 17, 2024 (GLOBE NEWSWIRE) — Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics” or the “Company”), a Nevada-based provider of AI-driven service robots, today announces that it is expanding its restaurant operations model with the signing of a binding Letter of Intent (LOI) with Ghost Kitchens America. Under the terms of the LOI, Richtech Robotics agreed to enter into a franchise agreement with Ghost Kitchens America, pursuant to which the Company will acquire exclusive rights to operate 20 Walmart-located restaurants in Arizona, Colorado, and Texas. These restaurants will be directly managed by Richtech Robotics’ subsidiary, AlphaMax Management LLC, with the aim of optimizing restaurant operations through robotics and AI cloud technology. Each location is expected to generate between $700 thousand and $2 million in annual revenue.

    Richtech Robotics is deploying its proprietary automation to enhance operational efficiency, augment and personalize customer experiences, and lower operational costs. The establishment and ongoing management of these restaurants is anticipated to provide a clear, repeatable operational blueprint that businesses can use to scale robotic deployment and optimize their business model.

    Matt Casella, President of Richtech Robotics, stated: “Richtech Robotics is committed to the commercialization of robotics, through both robotic sales and the operation of our own robot-powered restaurants. This agreement will significantly add to our restaurant portfolio, and these high-traffic locations will bring greater visibility to our brand and our solutions. Our restaurant operations will showcase the very same robotic and AI platforms offered through our RaaS (Robotics-as-a-Service) business model. We expect these platforms to become a fast-growing and stable revenue stream for us as we leverage them to manage thousands, and eventually tens of thousands, of restaurant operations in the future.”

    George Kottas, CEO of Ghost Kitchens America, commented: “All Walmart locations where we’ve signed agreements with Richtech Robotics have strong sales numbers and steady customer traffic. Based on our previous collaborations, Ghost Kitchens is confident that Richtech Robotics’ robotic technology and operational management services will maximize the performance of these restaurants. We look forward to further expanding our partnership with Richtech Robotics as we rapidly grow our restaurant footprint.”

    In addition to today’s announcement, the Company has already secured exclusive operational rights for the Ghost Kitchen at a Walmart location in Rockford, Illinois. Additionally, Richtech Robotics has signed a franchise agreement for another Walmart restaurant in Peachtree, Georgia, which is expected to begin operations later this year.

    Through AlphaMax Management LLC, Richtech Robotics is operating these restaurants and advancing the application of robotic technology in the food service industry, with the goal of helping businesses reduce costs and improve efficiency.

    About Richtech Robotics

    Richtech Robotics is a provider of collaborative robotic solutions specializing in the service industry, including the hospitality and healthcare sectors. Our mission is to transform the service industry through collaborative robotic solutions that enhance the customer experience and empower businesses to achieve more. By seamlessly integrating cutting-edge automation, we aspire to create a landscape of enhanced interactions, efficiency, and innovation, propelling organizations toward unparalleled levels of excellence and satisfaction. Learn more at http://www.RichtechRobotics.com and connect with us on X (Twitter), LinkedIn, and YouTube.

    About Ghost Kitchens International (GKI)

    With restaurants across Canada and the US, GKI is expanding to open 240 new restaurants under the ONE KITCHEN banner in USA and Canada. Each restaurant features multiple national brands made to order, a single operator, innovative front and back-of-house technology, and walk-in and delivery customers. For more information go to http://www.ghostkitchenbrands.com.

    Forward Looking Statements

    Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Such forward-looking statements include, but are not limited to, statements regarding the anticipated success and benefits of the partnership with Ghost Kitchens America, including the ability of each location to generated expected annual revenue.

    These forward-looking statements are based on Richtech Robotics’ current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements include, among others, risks and uncertainties related to the parties’ ability to negotiate and execute a definitive agreement in connection with the LOI; Richtech Robotics’ ability to implement the definitive agreement; the ability of each location to generated the expected amount of annual revenue; and Richtech Robotics’ ability to realize the benefits described herein. Investors should read the risk factors set forth in Richtech Robotics’ Annual Report on Form 10-K/A, filed with the SEC on March 27, 2024, the Registration Statement and periodic reports filed with the SEC on or after the date thereof. All of Richtech Robotics’ forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. New risks and uncertainties arise over time, and it is not possible for Richtech Robotics to predict those events or how they may affect Richtech Robotics. If a change to the events and circumstances reflected in Richtech Robotics’ forward-looking statements occurs, Richtech Robotics’ business, financial condition and operating results may vary materially from those expressed in Richtech Robotics’ forward-looking statements.

    Readers are cautioned not to put undue reliance on forward-looking statements, and Richtech Robotics assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:

    Investors:
    CORE IR
    Matt Blazei
    ir@richtechrobotics.com

    Media: 
    Timothy Tanksley
    Director of Marketing
    Richtech Robotics, Inc
    press@richtechrobotics.com
    702-534-0050

    The MIL Network

  • MIL-OSI Europe: ASIA/INDIA – Bishops on the death of businessman Ratan Tata: “A beacon of compassion” esteemed by the Catholics

    Source: Agenzia Fides – MIL OSI

    Bangalore (Agenzia Fides) – “Ratan Tata was an icon among entrepreneurs, a visionary leader and a philanthropist whose indelible contribution to society will be remembered for generations,” said the Indian Bishops’ Conference on the death of the well-known Indian businessman Ratan Tata, who died on October 9 at the age of 86. The former chairman of the “Tata Group”, which operates mainly in the automobile sector, was a “beacon of mercy and generosity”. “Through the Tata Trusts and his numerous philanthropic initiatives,” say the bishops, “he changed the lives of millions of people by supporting the cause of the marginalized and playing a fundamental role in the development of India. His unwavering commitment to social justice, education, healthcare and rural development was closely aligned with the core values of the Catholic Church, particularly its mandate to serve the poor and the vulnerable,” the statement said. The moral and spiritual legacy of Tata, who was born into a family of Parsi origin, is particularly recognized for his “ethical leadership, integrity and commitment to social causes” that “set a new standard for corporate social responsibility in India.” In addition to his remarkable contribution to the Indian economy, “he did not lose sight of the need to help the underprivileged,” the statement said. The Catholic Church in India recognizes him as an “extraordinary human being” and hopes that “his inspiring leadership and boundless generosity” will inspire many people and entrepreneurs in India, especially the youth, to “work for the betterment of society and serve others with selflessness and compassion.” Catholics will work together with all Indian citizens from all cultural and religious groups “for a fairer and more balanced society, realizing the values that Tata upheld and lived throughout his life,” the bishops assured. The Claretian missionary George Kannanthanam, who lives with lepers in Sumanahalli near Bangalore, commented: “Tata was a great role model by putting the Christian principles of truth, justice, equality, humility and mercy into practice.” “He spent most of his wealth on the welfare of the weaker sections of the population. He created great institutions for social welfare and development that changed India’s social landscape. He supported educational centers to encourage youth,” the priest recalls. “As an entrepreneur, he stood by the workers and gave them dignity and hope. He made life better for the disabled and the elderly,” the priest continues, describing Tata as “a different kind of businessman, compassionate, guided by the Gandhian motto: When you make a decision, think whether it will benefit the poorest person in the country.” For all this, he was loved by the 700,000 employees of his 19 companies in more than 100 countries, with a net worth of $400 billion. For example, in 2012, when the Tata Steel Company in Jamshedpur was downsized from 78,000 to 40,000 employees, the entrepreneur ensured that all laid-off workers continued to receive their wages until retirement age. “A decision that is unprecedented in history anywhere else in the world,” Father Kannanthanam notes, recalling that Tata’s total contribution to various charitable initiatives is roughly estimated at around $100 billion. If “God loves a cheerful giver, God loves Ratan Tata very much,” he concludes. (PA) (Agenzia Fides, 17/10/2024)
    Share:

    MIL OSI Europe News

  • MIL-OSI Russia: Poland: Staff Concluding Statement of the 2024 Article IV Mission

    Source: IMF – News in Russian

    October 17, 2024

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. 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 Executive Board for discussion and decision.

    Washington, DC – October 17, 2024:

    An International Monetary Fund mission visited Warsaw during October 8-17 in the context of the 2024 Article IV consultation.

    Poland’s near-term outlook is positive and has improved relative to last year despite ongoing sluggish growth across Europe and Russia’s war in Ukraine. A consumption-led recovery is underway, and the outlook is further supported by recently unlocked NextGen EU Funds (NGEU). Inflation has declined helped by a tight monetary stance, and its descent to the target range by close to end-2025 is on track, provided prudent policies are maintained. Policy priorities for the near- and medium-term include balancing the mix of monetary and fiscal policy , preserving debt sustainability, while strengthening the economy to face longer-term challenges. Specifically:

    • Monetary policy is appropriately tight and interest rate cuts should commence only when there is clear evidence that wage growth is decelerating, and inflation is firmly on track towards the target.

    • The medium-term Fiscal Structural Plan is welcome and it targets sufficient cumulative fiscal consolidation by 2028, meeting the EU’s new fiscal rules. The full set of measures to achieve this is yet to be identified.

    • Bringing more of the authorities’ medium-term deficit reduction plans up front in 2025 would build more resilience against future shocks, reduce debt, and support more rapid interest rate reductions, which would foster private sector investment and growth while still bringing inflation to target.

    • Population ageing, diminishing cost-competitiveness, and climate transition present significant challenges to Poland’s export-driven growth model. Thus, medium-term growth is expected to decline, unless structural reforms are deepened and progress on the energy transition accelerates.

    Economic growth is accelerating in 2024 led by recovering domestic demand. Private consumption has picked up as strong nominal wage growth coupled with lower inflation led to a sharp rebound in real wages. Fixed investment also continued its gradual recovery though remaining as a share of GDP below pre-pandemic levels. Net exports, however, are imposing some drag as imports recovered on the back of higher consumption while exports are held back by weak demand from the Euro Area. As a result, growth is expected at 3 percent in 2024 up from around 0 in 2023.

    The near-term outlook is positive due to the ongoing cyclical recovery in consumption and investment, and the absorption of EU funds. Growth is expected to accelerate to 3.5 percent in 2025 and 3.4 percent in 2026. Real and nominal wage growth are expected to gradually decelerate, while profits are expected to continue declining as firms have limited capacity to pass-through increases in wage costs into prices given that the output gap remains negative. Stronger consumption, normalization of inventories, lagged impact of the appreciation of the real exchange rate, and release of EU funds are expected to support imports and with it a narrowing in the current account surplus.

    Over the medium term, growth is expected to moderate and converge to potential as the support from rebounding consumption and NGEU funds subside. Growth will decelerate to slightly below 3 percent by 2029 as EU-financed investments decline and the population ages. Productivity is expected to modestly recover from the impact of recent labor hoarding. However, productivity growth is not expected to return to pre-pandemic levels given that much of the productivity gap with advanced economies has already been closed.

    Amidst high uncertainty, risks remain elevated and tilted towards lower growth and higher inflation. A slower-than-expected recovery in the Euro Area, delayed absorption of EU funds, and heightened geopolitical tensions could dampen the recovery. At the same time, risks to inflation remain elevated from the tight labor market against the backdrop of accelerating domestic demand and potential supply-side shocks. There are also upside risks to growth including a stronger-than-expected catalytic role from EU funds on private investment and productivity, a larger-than-expected workforce from higher immigration, and potential nearshoring as a result of geoeconomic fragmentation. Risks are well mitigated by ample foreign exchange reserves, a flexible exchange rate, modest debt levels, and robust financial sector buffers.

    Monetary policy is appropriately tight.While the policy rate was kept on hold at 5.75 percent since November 2023, the monetary stance has tightened as inflation expectations declined. This is appropriate because inflation is well above the central bank inflation target. The momentum of core inflation is elevated in the context of strong wages growth amid still-tight labor market and substantial wage increases in the public sector.

    Monetary policy should remain tight at least through 2025 with rate cuts commencing only when data and forecasts confirm that inflation is on a clear downward path towards the target. Absent surprises, both core and headline inflation should peak in year-on-year terms before mid-2025, significantly above the target, before moderating around the upper end of the target range of 2.5±1 percent by end-2025. However, uncertainty on the inflation trajectory is substantial, including due to uncertainty regarding energy prices, developments in the labor market, and the pace of economic recovery. While, monetary policy should remain both data-dependent and forward-looking, the current context warrants placing significant weight on realized inflation declining towards the target over several months on the back of decelerating wages. On this basis, there may be scope for limited and gradual policy rate cuts to start around mid-2025.

    Near-term growth acceleration presents an opportunity to rebuild buffers and help complete the disinflation process by tightening fiscal policies. The general government (GG) deficit is projected to widen from 5.1 percent of GDP in 2023 to 5.7 percent of GDP in

    2024, due to expansionary policies resulting in a fiscal impulse of 0.4 percent of GDP. The 2025 budget targets a slightly lower GG deficit of 5.5 percent of GDP largely owing to higher growth. Staff recommends a tighter fiscal stance by around 0.5 percent of GDP. This can be still achievable within the 2025 budget by saving possible revenue overperformance and limiting non-priority spending. Such a shift would lower debt, thereby rebuilding fiscal space to mitigate against future shocks. It would also lift some of the burden from tight monetary policies to rein in inflation, potentially freeing space for additional policy rate cuts.

    Fiscal consolidation should be anchored in a clear medium-term plan to stabilize debt. The recently published Fiscal Structural Plan is an important and welcome step in this regard as it targets appropriate fiscal balances by 2028 – entailing an adjustment of about 2½ percent of GDP from 2024 in terms of the structural fiscal balance – that would allow exiting the EU’s Excessive Deficit Procedure while stabilizing debt at levels close to 60 percent of GDP notwithstanding large increases in spending on defense. Fully identifying the necessary fiscal measures now and bringing more of the planned fiscal consolidation upfront into 2025 would help strengthen its credibility.

    Potential measures that would support consolidation while also further reducing inequality include: i) raising Personal Income Tax revenues by increasing progressivity to bring them more in line with EU peers , ii) addressing the preferential and regressive treatment of the self-employed, iii) better targeting of social benefits to more effectively support the vulnerable, iv) raising property tax revenues closer to EU comparators, and v) taxing more non-essential items at the standard VAT rate. In this context, raising the PIT tax-exempt threshold, which is under consideration, would require even stronger consolidation measures to offset the fiscal cost. Finally, aligning the retirement age for men and women and then adjusting it over time in line with longevity would help limit the expected shortfall in pensions’ adequacy over the longer-term.

    The authorities have made commendable progress in strengthening the fiscal framework. They have expanded the coverage of the stabilizing expenditure rule and improved oversight over extrabudgetary funds. Establishing a fiscal council as planned would further strengthen accountability and governance.

    Financial sector policies should safeguard the nascent credit recovery, building on a robust banking system. Systemic risks to the financial sector have moderated, with the banking sector being well-capitalized and liquid. Past prudential policies have focused on buttressing stability through regulatory tightening. At the same time banks had to face large costs of legal risks and regulatory burdens such as mortgage credit holidays. Together with weak credit demand and serious legal and regulatory uncertainties, this has created further headwinds for new credit resulting in one of the steepest declines in private sector credit-to-GDP in the EU. Moving forward, policy makers should: (i) take into account the impact of possible further tightening of regulations on the nascent credit recovery, while enhancing regulatory stability; (ii) proactively reduce legal risks to financial sector stability, including by exploring legislative solutions; (iii) even the playing field for private sector credit by replacing the bank asset tax in a manner that eliminates the preferential treatment of public debt` and (iv) allow the mortgage credit holiday to expire.

    After two decades of impressive income convergence, Poland’s growth model needs to adjust to new economic conditions. Exports, especially to the EU, have played a significant role in Poland’s success. However, sizable real appreciation over the past two years weighs on cost-competitiveness. Meanwhile, the regional growth outlook remains subdued, and geopolitical conflicts and geoeconomic fragmentation present headwinds to penetrating new markets. In addition, shallow domestic capital markets and low savings weigh on investment, with population ageing posing a substantial drag on the future size of the workforce. To sustain growth, policies should focus on: i) deepening capital markets (including steps towards a capital market union within the EU), ii) lowering barriers to resource reallocation (for example by strengthening re-skilling programs for adults), iii) fostering innovation capacity (including by promoting private equity and venture capital), and iv) supporting higher labor participation especially for women (by ensuring adequate child and elderly care). The new program supporting young parents’ return to the labor market aims to address this gap. Building on the successful absorption of refugees from Ukraine into the Polish labor market, ongoing efforts to enhance the integration of immigrants can further help contain labor shortages.

    The government’s new decarbonization targets are appropriate; meeting these while safeguarding competitiveness and social cohesion will require strong measures.

    Significant progress has been made on climate mitigation, but more is needed given Poland’s costly dependence on coal, which also undercuts competitiveness. The recent draft energy strategy update outlines additional policy targets and measures for bringing emissions in line with EU climate goals. Its success will be supported by EU funds, and depends on removing barriers to private investment in renewable energy, including by adopting EU legislation on faster permitting for green projects, liberalizing regulations for onshore windfarms, and prioritizing NextGen EU funds for expanding electricity grids. Extending carbon pricing to transportation and heating would also be important for reducing emissions; an early and gradual introduction would help limit adjustment costs. The authorities must address social challenges from the climate transition by cushioning the social impact on coal mining regions and reducing energy poverty.

    The mission thanks the authorities and other counterparts for the fruitful discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER:

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

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2024/10/17/CS-poland-2024

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI Russia: GUU at the All-Russian Conference on Technological Entrepreneurship

    MILES AXLE Translation. Region: Russian Federation –

    Source: State University of Management – Official website of the State –

    The Director of the Business Incubator of the State University of Management took part in the All-Russian Conference “Technological Entrepreneurship, Science and Financial Development of Universities”, which was held from October 14 to 16 at the Moscow Institute of Physics and Technology.

    The conference discussed current issues related to the development of technological entrepreneurship, commercialization of scientific developments and startup projects, financial support for innovative and technological business processes in higher education. The speakers shared best practices and their personal experience with the participants, talked about current support measures and mechanisms for increasing the effectiveness of interaction between science, business and the state in the field of technological entrepreneurship.

    The event was opened by Oleg Churilov, Director of the Department for Development of Technological Entrepreneurship and Technology Transfer of the Ministry of Education and Science of Russia. He presented the results of the implementation of the federal project “University Technological Entrepreneurship Platform” and emphasized that technological entrepreneurship today is a driver of economic development, because it is thanks to entrepreneurship that technological startups and new jobs are created.

    MIPT Rector Dmitry Livanov told conference participants about the role of universities in technological development and shared his experience in creating innovative products, noting the importance of applied science, which facilitates the implementation of new technologies and solutions.

    The State University of Management was represented at the meeting by the Director of the State University of Management Business Incubator, Dmitry Rogov.

    A separate section of the conference was devoted to the implementation of the Startup as a Diploma program in universities. Olga Serebryannikova, Director of the Project Office for the Development of Youth Entrepreneurship in Higher Education Institutions of the Ministry of Education and Science of Russia, presented key indicators for the program’s implementation in the 2023/24 academic year to the event participants.

    The speakers also included representatives of the Skolkovo Foundation, Sberbank PJSC, Gazprom Neft PJSC, NTI Platform ANO and other organizations.

    It should be noted that the State University of Management has been successfully integrated into the projects of the Platform of University Technological Entrepreneurship of the Ministry of Education and Science of Russia. Our students took part in the All-Russian Forum of Technological Entrepreneurship, thematic day “Science and Universities”, the festival “Technocode” and other events of the Platform.

    In addition, the university is implementing acceleration programs for NTI markets, and this academic year, GUU has become a partner university for entrepreneurial competencies training, which will be held at the First Management University on October 24 and November 28.

    Subscribe to the TG channel “Our GUU” Date of publication: 10/17/2024

    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.

    GUU at the All-Russian Conference on Technological Entrepreneurship

    MIL OSI Russia News

  • MIL-OSI Russia: The government has increased the volume of support for the Project Financing Factory program

    MILES AXLE Translation. Region: Russian Federation –

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

    Resolution of October 4, 2024 No. 1337

    The government continues to support investors implementing large projects in priority sectors of the economy. On the instructions of the President, a decision was made to increase the amount of state support for the “Project Financing Factory” program.

    Document

    Resolution of October 4, 2024 No. 1337

    The resolution signed by Prime Minister Mikhail Mishustin increases the size of the state corporation VEB.RF’s participation in syndicated loans from 500 billion to 600 billion rubles, which will help increase the total lending for investment projects in priority sectors of the economy to 6 trillion rubles.

    As Mikhail Mishustin noted atGovernment meeting, in general, the program is designed to solve the problem of insufficient capital. Within its framework, large facilities are being built in the gas chemical industry, trunk infrastructure, metallurgy and other areas. They contribute to the achievement of national goals approved by the head of state, the development of Russian regions and the country as a whole.

    The Project Financing Factory was launched in 2018, becoming a new mechanism for attracting investment. The program involves issuing loans for the implementation of investment projects in priority sectors of the economy. Such loans can be obtained for projects worth from 3 billion rubles. The operator of the program, coordinating its work, selecting and examining projects, is VEB.RF.

    The resolution was prepared to implement the instructions of the President following the XXVII St. Petersburg International Economic Forum, held in June 2024, and the meeting with members of the board of directors of the Russian Union of Industrialists and Entrepreneurs, held in April 2024.

    The signed document introduces changes toGovernment Resolution of February 15, 2018 No. 158.

    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/53023/

    MIL OSI Russia News

  • MIL-OSI United Kingdom: Regulators urge safer giving to help people impacted by humanitarian crisis in the Middle East

    Source: United Kingdom – Executive Government & Departments

    The Charity Commission for England and Wales and the Fundraising Regulator advise people to give support via registered charities.

    Today (17 October 2024) the Charity Commission for England and Wales and the Fundraising Regulator have published advice on how people can help civilians impacted by the ongoing conflict in the Middle East.

    The advice comes as the Disasters Emergency Committee (DEC) launches a humanitarian appeal to help civilians affected by humanitarian crises in Gaza and Lebanon caused by conflict.

    DEC brings together 15 leading registered UK aid charities to raise funds quickly and efficiently in times of crisis overseas.

    The appeal will fund the distribution of emergency items such as mattresses, blankets, tents, food and water to those in need of basic humanitarian relief in the region.

    The government has pledged to match donations received by the DEC appeal, up to £10million, which will make the public’s generosity go up to twice as far to help those in need.

    Many people in the UK will separately be wishing to support charities operating in or supporting those across communities impacted by recent events in Israel. Checking charity registers before donating will ensure that support reaches its intended cause.

    By supporting existing, registered charities, including through the DEC, people can be assured that they are giving safely.  

    David Holdsworth, Chief Executive of the Charity Commission said:

    As we’ve watched the appalling humanitarian crisis unfold in the Middle East, many of us will be asking how best to help the millions of people in need of basic aid.

    Registered charities with experience working in incredibly complex and dangerous circumstances, across and within borders, are the best organisations to support financially to ensure donations reach civilians in need.

    That’s why we’re reminding people to give with confidence through registered charities, including the appeal launched by the Disasters Emergency Committee.

    Gerald Oppenheim, Chief Executive of the Fundraising Regulator said:

    The ongoing humanitarian crisis in the Middle East is devastating for so many people. The generosity of the British public means that many will be eager to support those affected in any way they can.

    Supporting registered charities, which have infrastructure established within the region, ensures that your donations will reach those who need it.

    Steps to giving safely 

    People can give with confidence to relief efforts by following a few simple steps: 

    • consider donating through the DEC’s emergency appeal
    • for those who choose to donate to other charities, the charity regulator is reminding people to check charities are registered and legitimate
    • look out for the Fundraising Badge – the logo that says ‘registered with Fundraising Regulator’ – and check the Fundraising Regulator’s Directory of organisations committed to fundraise in line with its Code of Fundraising Practice. 
    • contact a charity directly or find out more online about the charity that you’re seeking to donate to or work with to understand how it is spending funds 
    • make sure the charity is genuine before giving any financial information 
    • be careful when responding to emails or clicking on links within them 
    • check the charity’s name and registration number on the Charity Register – most charities with an annual income of £5,000 or more must be registered in England and Wales 

    ENDS  

    Notes to editors:  

    1. Further tips on donating with confidence to registered charities are available on GOV.UK 
    2. The Charity Commission for England and Wales is the independent, non-ministerial government department that registers and regulates charities in England and Wales. Its purpose is to ensure charity can thrive and inspire trust so that people can improve lives and strengthen society. It can be reached on 
    3. There are separate registers for charities in England and Wales, charities in Scotland and charities in Northern Ireland. Charities can be on more than one register, reflecting the nations where they operate
    4. The Fundraising Regulator is the independent regulator of charitable fundraising in England, Wales and Northern Ireland. Further guidance on giving safely to charity is available on the Fundraising Regulator’s website. It can be reached on FR@pagefield.co.uk

    Press office

    Email pressenquiries@charitycommission.gov.uk

    Out of hours press office contact number: 07785 748787

    Updates to this page

    Published 17 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: G7 Cyber Expert Group recommends action to combat financial sector risks from quantum computing

    Source: United Kingdom – Executive Government & Departments

    G7 Cyber Expert Group publishes guidance for the finance sector on planning for quantum computing.

    The G7 Cyber Expert Group (CEG) – chaired by the U.S. Department of the Treasury and the Bank of England – released a public statement on 25 September highlighting the potential cybersecurity risks associated with developments in quantum computing and recommending steps for financial authorities and institutions to take to address those risks.

    Quantum computers are being built that will be able to solve computational problems currently deemed impossible for conventional computers to solve within a reasonable amount of time.  While potentially providing significant benefits to the financial system, these powerful computers will also carry with them unique cybersecurity risks.  One of the most significant is that cyber threat actors could use quantum computers to defeat certain cryptographic techniques that secure communications and IT systems, potentially exposing financial entity data, including customer information.

    While the exact timeline for developing quantum computers with these capabilities is uncertain, there is a real possibility that such capabilities could emerge within a decade. These quantum computers would not only put future data at risk, but also any previously transmitted data that cyber adversaries have been able to intercept and store with the intent of decrypting later with quantum computers. Due to the potentially long lead time needed to put in place quantum-resilient technologies, the time to start planning is now.

    An initial set of quantum-resilient encryption standards was released by the National Institute of Standards and Technology (NIST) last month. Additional standards from NIST and other standard-setting bodies are expected in the future. It is important for financial entities to maintain the agility required to incorporate new encryption standards in a timely and appropriate manner as they become available.

    With the availability of NIST’s standards, some financial entities may be in a position now to start making the needed changes to implement quantum resilient technologies within their systems. Others may be dependent on vendors and other third parties to develop implementations of the new standards that can be incorporated once they become available. No matter where entities are in their adoption timelines, the G7 CEG strongly encourages financial authorities and institutions to begin taking the following steps to build resilience against quantum computing risks:

    1. Develop a better understanding of the issue, the risks involved, and strategies for mitigating those risks.
    2. Assess quantum computing risks in their areas of responsibility.
    3. Develop a plan for mitigating quantum computing risks.

    The CEG statement provides additional details on quantum computing risks and the specific actions that financial entities can start taking to build quantum resilience within the financial system.

    The G7 CEG’s membership includes representatives of financial authorities across all G7 jurisdictions as well as the European Central Bank.  It was founded in 2015 to serve as a multi-year working group that coordinates cybersecurity policy and strategy across the member jurisdictions.  In addition to policy coordination, the G7 CEG also acts as a vehicle for information sharing, cooperation, and incident response.

    Updates to this page

    Published 17 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Economics: U.S. Economic Footing Firmer Than Previously Thought, Projected to Expand 2.3 Percent in 2024

    Source: Fannie Mae

    WASHINGTON, DC – Following annual revisions to the national accounts and an improvement in payroll employment growth in both August and September, the economy now appears to be on firmer footing than previously thought, according to the October 2024 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. While the ESR Group still expects economic growth to slow from the robust 3.2 percent pace recorded in 2023, the degree of expected slowing is smaller; growth in 2024 and 2025 is now expected to be 2.3 percent and 2.0 percent, respectively, near the long-run trend growth rate. The improved economic outlook stems in large part from significant upward revisions to recent personal income data. Previously, the ESR Group expected consumption growth to retrench, as it had grown unsustainably relative to incomes, but revised data now show the relationship between income and consumption to be closer to historical levels. As such, the ESR Group believes the economy can maintain growth closer to its long-run potential through its forecast horizon, barring an unforeseen shock to consumer or business confidence from an adverse exogenous event.

    Following data revisions and recent employment data, bond market expectations for rate cuts have moved into closer alignment with the dot plot from the Federal Reserve’s latest Summary of Economic Projections. As a result, the 10-year Treasury is currently up more than 40 basis points from its mid-September low. This represents upside risk to the ESR Group’s latest mortgage rate forecast, which now sees the 30-year mortgage rate ending the year at 6.0 percent, down from last month’s 6.2 percent projection, and to decline steadily to 5.7 percent by the end of 2025. Meanwhile, the ESR Group expects annual home prices to grow 5.8 percent in 2024 and 3.6 percent in 2025, both slight adjustments to their previous forecasts of 6.1 percent and 3.0 percent, respectively. While the general low level of homes available for sale is expected to continue to exert upward pressure on prices, the ESR Group expects ongoing affordability constraints and rising inventories of homes available for sale to help moderate the magnitude of home price growth moving forward.

    “While potential homebuyers have noticed the decline in mortgage rates over the last few months, they are equally aware that there has been little relief on the home price side, the other primary driver of unaffordability, particularly for first-time buyers,” said Mark Palim, Fannie Mae Senior Vice President and Chief Economist. “The timing of the long-expected pick-up in home sales activity, as well as a further moderation in home price appreciation, will depend in part on the willingness of current homeowners to relinquish their low mortgage rates by offering their homes for sale. Of course, continued strong homebuilding activity will also play a significant role as the shortage of national housing stock remains the primary impediment to affordability.”

    Visit the Economic and Strategic Research site at fanniemae.com to read the full October 2024 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary. To receive e-mail updates with other housing market research from Fannie Mae’s Economic and Strategic Research Group, please click here.

    About the ESR Group
    Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Mark Palim, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets.

    Opinions, analyses, estimates, forecasts, beliefs, and other views of Fannie Mae’s Economic and Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, beliefs, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, beliefs, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

    MIL OSI Economics

  • MIL-OSI Economics: RBI imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Mandsaur, Madhya Pradesh

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹2.50 lakh (Rupees Two Lakh Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Mandsaur, Madhya Pradesh (the bank), for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with section 46(4)(i) and section 56 of the BR Act.

    The statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with statutory provisions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said provisions.

    After considering the bank’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty.

    The bank had failed to transfer eligible unclaimed deposit amounts to the Depositor Education and Awareness Fund within the prescribed period.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1327

    MIL OSI Economics

  • MIL-OSI Economics: RBI imposes monetary penalty on The Kottarakara Co-operative Urban Bank Limited, Kerala

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Kottarakara Co-operative Urban Bank Limited, Kerala (the bank) for non-compliance with specific directions issued by RBI under Supervisory Action Framework (SAF). This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with RBI instructions issued under SAF and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.

    After considering the bank’s reply to the notice and oral submissions made by it during the personal hearing, RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty.

    The bank had sanctioned/renewed credit facilities to sectors having high level of NPA / defaults in non-adherence to directions issued under SAF.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1325

    MIL OSI Economics

  • MIL-OSI: FSI ANNOUNCES THIRD QUARTER 2024 REVENUE

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, BRITISH COLUMBIA, Oct. 17, 2024 (GLOBE NEWSWIRE) — FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE- AMERICAN: FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also makes nutraceuticals, biodegradable and environmentally safe water and energy conservation technologies. Today the Company announces top line revenue for third quarter (Q3), 2024.

    Sales were up in Q3, 2024 compared to Q3, 2023. Flexible Solutions’ top line revenue increased from $8.721 million (Q3, 2023) to $9.287 million (Q3, 2024), up approximately 6.5% year over year.

    Complete financial results will be available after market close on Thursday, November 14, 2024, concurrent with the Company’s SEC second quarter filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, the following business day, Friday, November 15, 2024. See the FSI November 14, 2024 financials news release for the dial in numbers.

    About Flexible Solutions International
    Flexible Solutions International, Inc. (http://www.flexiblesolutions.com), based in Victoria, British Columbia, is an environmental technology company. The Company’s NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic and have wide usage including scale inhibitors, detergent ingredients, water treatment and crop enhancement. Along with TPA, this division started producing other crop enhancement products as well. The other divisions manufacture energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. FSI is the developer and manufacturer of WaterSavrTM, the world’s first commercially viable water evaporation retardant. WaterSavrTM reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. HeatsavrTM, a “liquid blanket” evaporation retardant for the commercial swimming pool and spa markets, reduces energy costs by 15% to 40% and can result in reduced indoor pool humidity.

    Safe Harbor Provision
    The Private Securities Litigation Reform Act of 1995 provides a “Safe Harbor” for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company’s reports filed with the Securities and Exchange Commission.

    Flexible Solutions International
    6001 54thAve, Taber, Alberta, CANADA T1G 1X4

    Company Contacts
    Jason Bloom
    Toll Free: 800.661.3560
    Fax: 403.223.2905
    Email: info@flexiblesolutions.com

    To find out more information about Flexible Solutions and our products please visit http://www.flexiblesolutions.com

    If you have received this news release by mistake or if you would like to be removed from our update list please reply to: info@flexiblesolutions.com

    The MIL Network

  • MIL-OSI: Trade Without Limits: Orderly Unity by Orderly Network Unleashes First-Ever Omnichain Orderbook on Solana

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) — Orderly Network is proud to unveil its groundbreaking expansion to the Solana Network following the successful deployment of its omnichain vault on the Solana Blockchain, allowing both EVM and non-EVM users to trade perps from a single, shared orderbook.

    Centered around unified liquidity, the mainstay of Orderly Network’s DeFi solutions, the initiative known as Orderly Unity will see Solana become the latest blockchain equipped to provide a truly omnichain trading experience to users.

    Solana-based traders can now deposit their assets on Orderly and trade against counterparts on all other Orderly-supported chains from the same orderbook, without their funds ever needing to leave the parent network. As of today, the Solana integration is now live on testnet, with mainnet set to go live in November.

    By bringing Solana into the fold, Orderly takes another decisive step forward in creating a DeFi ecosystem where anyone can trade any asset seamlessly, on any platform.

    Thanks to Co-Founder Ran Yi’s unique background in traditional finance, Orderly is able to position itself via Orderly Unity as the equivalent of the Chicago Mercantile Exchange (CME).

    By deploying asset vaults on multiple chains, with all trades then executed and settled on the Orderly Chain, cross-netting capabilities and better capital efficiency is created. The result is an inclusive, trader-first approach to the expansion of DeFi that’s not yet been seen, with Orderly leading firmly from the front.

    Focused on creating omnichain trading infrastructure with ready-to-use liquidity for builders, Orderly is already deployed across major chains, such as Arbitrum, Base, Mantle, Ethereum Mainnet, OP, Polygon, and now Solana, wrapping up an impressive market offering that will allow traders better access to popular assets such as memecoins. Through Orderly, traders and exchanges have access to over 50 markets, ensuring robust liquidity on all major chains through a unified trading infrastructure.

    “We’re excited to see Orderly take its place as the first trading solution in DeFi to unite onchain perps trading for both EVM and non-EVM users in the same shared orderbook,” says Ran Yi, Orderly Network CoFounder. “This is in-line with our protocol’s charge forward: Orderly Unity. We’re on a mission to unify liquidity across all chains and create an environment for trading without limits.”

    “Solana is renowned for its high throughput, low latency, and cost-effective transactions, making it an ideal network for the next phase of Orderly’s omnichain expansion,” says Arjun Arora, Orderly Network COO.

    “By deploying our omnichain vault on Solana, we are bringing a seamless perps trading experience to Solana’s vibrant ecosystem of traders, builders, and dApps. This expansion marks the first in the space to offer perpetuals to both EVM and non-EVM users within one unified orderbook, supporting our Orderly Unity mission of a truly omnichain DeFi ecosystem.”

    The latest in a string of useful, high-profile integrations and initiatives, 2024 has been a year of consistent growth for Orderly Network, which has already surpassed its recent milestone of $83 billion in total trading volume.

    About Orderly Network
    Orderly Network is transforming DeFi with its cutting-edge cloud liquidity infrastructure by unifying cross-chain trading through its Orderly Chain and a single shared orderbook, while enhancing trading efficiency, delivering deeper liquidity, and ensuring tighter spreads. The platform provides seamless access to over 50 markets, empowering developers, traders, and exchanges to engage in limitless trading through a streamlined, cohesive trading ecosystem.

    Learn more at orderly.network        
    For PR enquiries related to this release, please contact pr@orderly.network

    The MIL Network

  • MIL-OSI: Automation Drives Higher Career Satisfaction for Accounts Payable Professionals, New Survey Reveals

    Source: GlobeNewswire (MIL-OSI)

    CHARLOTTE, N.C., Oct. 17, 2024 (GLOBE NEWSWIRE) — In today’s fast-paced business environment, more and more finance departments are beginning to turn to automation to improve efficiency and job satisfaction. As automation continues to transform the landscape of financial operations, new data suggests that accounts payable (AP) professionals with a higher degree of automation are benefiting both in their careers and lifestyles. According to a new survey conducted by the Institute of Finance and Management (IOFM), in partnership with AvidXchange, more than 500 AP professionals across various industries revealed that greater automation within AP departments is linked to improved job satisfaction, healthier work/life balance, and more opportunities to work on strategic initiatives to advance their careers.

    Career and Lifestyle Satisfaction

    Based on the survey results, higher levels of automation are correlated with higher career satisfaction and growth opportunities. The majority of AP professionals who are “extremely satisfied” with their role work in mostly automated AP departments, and staff in fully automated departments are twice as likely to “strongly agree” that there are career advancement opportunities at their organization compared to those in manual environments. AP professionals believe the lack of automation in their departments impacts their career advancement opportunities, with 74% believing access to technology like automation aids in professional development and skills growth.

    Automation isn’t only enhancing job satisfaction; it’s also contributing to a healthier work/life balance for AP professionals. The survey revealed that nearly 75% of AP departments with some level of automation operate remotely or in a hybrid setting. In contrast, departments with lower levels of automation are often confined to office-based work. In fact, the survey showed that teams relying entirely on manual AP processes are more than twice as likely to work exclusively in the office compared to those with fully automated systems, showcasing how automated systems support flexible work environments. Additionally, there has been a decrease in AP professionals working solely in the office between 2023 and 2024, highlighting a broader movement towards more flexible work environments. For departments aiming to adapt to this trend, investing in automation is essential. 

    Strategic Decision-Making

    Another significant finding from the survey highlights the advantages AP professionals can gain from greater access to automation, advanced reporting, and key analytics. Finance teams are becoming an increasingly important influence on business growth and operational efficiency, and they are being tasked with more value-added responsibilities such as data analytics, business advisory, and financial technology integration.

    Finance teams with mostly manual processes can spend much of their time on repetitive tasks, leaving little room to focus on strategic initiatives. AP professionals with a higher degree of automation are more likely to work on strategic initiatives. 78% percent of AP professionals in mostly automated departments also have access to the technology, reports, and analytics they need to make strategic business decisions, making the connection between the level of automation and the ability to engage in strategic work clear. 

    “The results of this survey are reflective of the value we’ve been bringing to our customers for years,” said AvidXchange President Dan Drees. “Automation is a game-changer for modern AP professionals. Not only does it improve work/life balance and enable access to data-driven analytics, but it also empowers finance teams to work on more strategic initiatives. AvidXchange is proud to pioneer solutions and tools that help finance teams succeed.”

    For more information on how end-to-end AP automation can help companies improve overall satisfaction and work/life balance and for a deeper look into the AP professional career satisfaction survey results, download the white paper: 2024 Accounts Payable Career Satisfaction Report.

    Survey Methodology

    IOFM conducted a survey, in partnership with AvidXchange, comprising of more than 500 Accounts Payable professionals. Survey respondents worked in organizations with annual revenue ranging from less than $500,000 to $1 billion or more from various industries and represented staff, middle management, and upper management. The survey was conducted in June 2024.

    About AvidXchange
    AvidXchange is a trusted, leading provider of accounts payable (“AP”) automation software and payment solutions for middle market businesses and their suppliers. AvidXchange’s Software-as-a-Service (“SaaS”) based, end-to-end software and payment platform digitizes and automates the AP workflows for over 8,000 buyer customers, and it has made payments to more than 1.2 million supplier customers of its buyers over the past five years. Additionally, AvidXchange, Inc. is a licensed money transmitter for US B2B payments, licensed as a Money Transmitter by the New York State Department of Financial Services, as well as all other states that require AvidXchange to have an applicable license. 

    To learn more about how AvidXchange, and its publicly traded parent AvidXchange Holdings, Inc. (Nasdaq: AVDX), are transforming the way companies pay their bills, visit avidxchange.com.

    About the Institute of Finance & Management

    Accounting and finance professions have each undergone nothing short of a complete transformation since the Institute of Finance and Management (IOFM) was founded in 1982. Since then, our mission has been, and continues to be, to align the resources, events, certifications, and networking opportunities we offer with what companies need from the accounting and finance functions to deliver market leadership. IOFM empowers accounting and finance professionals to maximize the strategic value they offer their employers. Our enduring commitment to serving the accounting and finance professions is unmatched. IOFM has certified over 25,000 accounting and finance professionals and serves several thousand conference and webinar attendees each year. IOFM is proud to be recognized as the leading organization in providing training, education and certification programs specifically for professionals in accounts payable, procure-to-pay, accounts receivable and order-to-cash, as well as key tax and compliance resources for global and shared services professionals, controllers, and their finance and administration (F&A) teams. Learn more at IOFM.com

    Contact:

    Kevin Logan
    Manager, Corporate Communications
    pr@avidxchange.com

    The MIL Network

  • MIL-OSI: Top KingWin Ltd. Announces Trading Ticker Symbol Change to “WAI”

    Source: GlobeNewswire (MIL-OSI)

    Guangzhou, China, Oct. 17, 2024 (GLOBE NEWSWIRE) — Top KingWin Ltd. (“Top KingWin” or the “Company”) (NASDAQ: TCJH) announced today that effective on October 21, 2024, its Class A ordinary shares will begin trading on the Nasdaq Capital Market under the ticker symbol “WAI”. This new ticker symbol will replace the Company’s previous ticker symbol “TCJH”.

    No action by the Company’s shareholders is required with respect to the ticker symbol change. The Company’s Class A ordinary shares continue to be listed on the Nasdaq Capital Market and the CUSIP number remains unchanged.

    About Top KingWin Ltd

    Top KingWin’s main clients are entrepreneurs and executives in small and medium-sized enterprises in China. Services provided by Top KingWin to its clients including (i) corporate business training services, which mainly focus on providing training services of advanced knowledge and new perspectives on the capital markets, (ii) corporate consulting services, which mainly focus on providing a combination of customized corporate consulting services to fulfill client’s unique financial needs, and (iii) advisory and transaction services, which mainly focus on connecting entrepreneurs and businesses with diversified sources of capital. Its mission is to provide comprehensive services to address clients’ needs throughout all phases of their development and growth.

    Forward-Looking Statements

    This press release contains forward-looking statements. All statements other than statements of historical fact in this press release are forward-looking statements, including but not limited to, the use of proceeds from the Company’s offering, the intent, belief or current expectations of Top KingWin and members of its management, as well as the assumptions on which such statements are based. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

    For more information, please contact:
    Bonnie
    Email: IR@tcjhgw.cn

    The MIL Network