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Category: Economy

  • MIL-OSI Africa: African Development Bank supports BIASHARA Africa 2024 Business Forum

    Source: Africa Press Organisation – English (2) – Report:

    KIGALI, Rwanda, October 15, 2024/APO Group/ —

    The African Development Bank (www.AfDB.org) has lent support to the Biashara Africa 2024 Business Forum or AfCFTA Business Forum, held from 9-11 October 2024 in Kigali, Rwanda. 

    The meeting, organized by the African Continental Free Trade Area (AfCFTA) (https://apo-opa.co/4h90Ciq), brought together industry leaders, policymakers and government representatives to promote African trade and foster economic growth on the continent. This year’s forum was themed “Dare to Invent the Future of the AfCFTA.” 

    As part of ongoing institutional support to the AfCFTA Secretariat, an African Development Bank delegation to the forum included Acting Director for the Bank’s Industrial and Trade Development department Ousmane Fall, Trade Policy Officer Abou Fall and Trade Facilitation Officer Rachael Nsubuga. 

    During the opening ceremony President Paul Kagame of Rwanda and AfCFTA champion emphasized connectivity across the continent in his remarks. 

    “How well we adapt as Africa to crisis depends on how strongly connected, we are,” Kagame said, urging governments to strengthen governance and institutions to prioritize implementation of AfCFTA protocols on trade in goods, services and movement of people for efficient trade.  

    Fall delivered a statement underscoring the Bank’s commitment to support African member countries through a comprehensive strategy to address investments tacking policy and regulation, corridors infrastructure, technology and connectivity constraints.  

    He noted that the African Development Bank has been very active in addressing access to trade finance as a major impediment to productivity. So far, the Bank has facilitated more than 3,000 trade transactions involving 170 financial institutions in all regional member countries  for a cumulative trade value of over $12 billion since the inception of The Bank Trade Finance Program.  

    Africa accounts for only two percent of global production, although it is most integrated in global value chains, but in the less profitable segments of value chains, Fall said.   

    The Biashara 2024 Business Forum held business exhibitions and side events on diverse topics such as unlocking the trade potential of Africa; trade finance; value chains; partnerships for Africa’s trade; and business to business events. 

    The AfCFTA is the world’s largest free trade area bringing together the 55 countries of the African Union (AU) and eight regional economic communities. The overall mandate of the AfCFTA is to create a single continental market with a population of about 1.3 billion people and a combined GDP of approximately US$ 3.4 trillion. 

    MIL OSI Africa –

    January 23, 2025
  • MIL-OSI Africa: World Future Economy Digital Leaders Summit debuts at GITEX GLOBAL, shaping the future global tech and policy landscape

    Source: Africa Press Organisation – English (2) – Report:

    DUBAI, United Arab Emirates, October 15, 2024/APO Group/ —

    Government officials, global industry leaders and experts gathered in Dubai for the opening day of the World Future Economy Digital Leaders Summit on Monday as conversations began about charting a course for AI Compute-Driven economic transformation.

    GITEX GLOBAL, the world’s largest tech event, got underway at Dubai World Trade Centre (DWTC), as topics on ‘Tech Investment Day’ centred around the next-gen semi-conductors market, which is expected to be valued USD $1 trillion by 2030, and the future of data governance. The mega event is under the theme of ‘Global Collaboration to Forge a Future AI Economy’.

    The World Future Economy Digital Leaders Summit comes at a time where UAE is accelerating its efforts in adopting AI in different sectors. Last year, the country’s AI market was valued (https://apo-opa.co/3zPf3HZ) at USD $3.47 billion. H.E. Abdullah Bin Touq Al Marri, Cabinet Member & Minister of Economy at UAE’s Ministry of Economy, explained the importance of AI and how it is central to the country’s economic future.

    Addressing the audience, he highlighted AI is a major driver for the future and is already impacting our everyday lives whether it is transportation or ordering food but to propel growth even further across different sectors, people and companies need to learn how to enable AI effectively.

    This year’s GITEX GLOBAL has attracted its largest international participation with 40% growth, welcoming new nations to the 44th edition of the showpiece event. Europe has a major presence this week, the biggest in the event’s history with the region’s tech industry projected to grow by 12% by the end of this year.

    Stephane Ouaki, Head of Department at European Innovation Council outlined how the continent is accelerating its tech ecosystem. He said the Council is supporting game-changing innovations, giving entrepreneurs access to opportunities to enhance their knowledge, and learn from other professionals to boost the growth of their businesses which benefits not only economies nationally but also regionally.

    Ignacy Niemczycki, Undersecretary of State Ministry of Economic Development and Technology of Poland, delivered a presentation on how the country is embracing technology. He said: “Our culture is a key pillar in our journey of being a tech leader and we have a stable economy which has been very resilient for the last 30 years.

    “More importantly, there is a real interest in the STEM field – if you ask most people in Poland, their choice would be to become an software engineer and this has created a situation where we have one of the best IT programmers in the world with some great tech entrepreneurs already from Poland.”

    Attendees also heard from Dr. Jaroslaw Kutylowski, the founder and CEO of DeepL a German-leading global language AI company, on how his business utilises large language models (LLMs). He said: “The models that we have been building have all stayed true to our products which has brought us success so far. As the company has been growing, we have been able to invest more into compute technologies and have built a data centre facility in Sweden. However, we need to keep innovating and see what the next step is. If we do not think ahead, we would be in the same position as we are today.”

    Meanwhile, Heman Bekele, who was named TIME’s 2024 Kid of the Year for inventing a potential treatment for skin cancer, shared his inspiring story. He explained how the failures that he experienced in life in producing his innovative soap product has made him a stronger individual and passion has a been a key attribute to his career success so far.

    Taking place at Dubai World Trade Centre (DWTC) until 18 October, GITEX GLOBAL presents its biggest, most international edition in its 44th year, welcoming over 6,500 exhibitors, 1,800 startups, 1,200 investors alongside governments from more than 180 countries.

    GITEX GLOBAL is seamlessly connecting with world’s largest network of tech events with its stellar list including GITEX EUROPE Berlin, GITEX ASIA Singapore, GITEX AFRICA Morocco, and GITEX NIGERIA. These events are fostering collaboration and driving innovation to shape the tech landscape of tomorrow.

    For more information on GITEX GLOBAL 2024 and to secure your passes, please visit http://www.GITEX.com.

    MIL OSI Africa –

    January 23, 2025
  • MIL-OSI: ASML reports €7.5 billion total net sales and €2.1 billion net income in Q3 2024

    Source: GlobeNewswire (MIL-OSI)

    ASML reports €7.5 billion total net sales and €2.1 billion net income in Q3 2024
    ASML expects total net sales for 2024 of around €28 billion

    VELDHOVEN, the Netherlands, October 15, 2024 – Today, ASML Holding NV (ASML) has published its 2024 third-quarter results.

    • Q3 total net sales of €7.5 billion, gross margin of 50.8%, net income of €2.1 billion
    • Quarterly net bookings in Q3 of €2.6 billion2 of which €1.4 billion is EUV
    • ASML expects Q4 2024 total net sales between €8.8 billion and €9.2 billion, and a gross margin between 49% and 50%
    • ASML expects 2024 total net sales of around €28 billion
    • ASML expects 2025 total net sales to be between €30 billion and €35 billion, with a gross margin between 51% and 53%
    (Figures in millions of euros unless otherwise indicated) Q2 2024   Q3 2024  
    Total net sales 6,243   7,467  
    …of which Installed Base Management sales1 1,482   1,541  
             
    New lithography systems sold (units) 89   106  
    Used lithography systems sold (units) 11   10  
             
    Net bookings2 5,567   2,633  
             
    Gross profit 3,212   3,793  
    Gross margin (%) 51.5   50.8  
             
    Net income 1,578   2,077  
    EPS (basic; in euros) 4.01   5.28  
             
    End-quarter cash and cash equivalents and short-term investments 5,019   4,985  

    (1) Installed Base Management sales equals our net service and field option sales
    (2) Net bookings include all system sales orders and inflation-related adjustments, for which written authorizations have been accepted.

    Numbers have been rounded for readers’ convenience. A complete summary of US GAAP Consolidated Statements of Operations is published on http://www.asml.com

    CEO statement and outlook
    “Our third-quarter total net sales came in at €7.5 billion, above our guidance, driven by more DUV and Installed Base Management1 sales. The gross margin came in at 50.8%, within guidance.

    “While there continue to be strong developments and upside potential in AI, other market segments are taking longer to recover. It now appears the recovery is more gradual than previously expected. This is expected to continue in 2025, which is leading to customer cautiousness. Regarding Logic, the competitive foundry dynamics have resulted in a slower ramp of new nodes at certain customers, leading to several fab push outs and resulting changes in litho demand timing, in particular EUV. In Memory, we see limited capacity additions, with the focus still on technology transitions supporting the HBM and DDR5 AI-related demand.

    “We expect fourth-quarter total net sales between €8.8 billion and €9.2 billion with a gross margin between 49% and 50% which includes the recognition of the first two High NA systems upon customer acceptance, reflecting progress on imaging, overlay and contrast. ASML expects R&D costs of around €1.1 billion and SG&A costs of around €300 million. We expect full-year 2024 total net sales of around €28 billion. Based on the recent market dynamics as mentioned above, we expect our 2025 total net sales to grow to a range between €30 billion and €35 billion, which is the lower half of the range that we provided at our 2022 Investor Day. We expect a gross margin between 51% and 53%, which is below the range we then provided, mainly related to the delayed timing of EUV demand,” said ASML President and Chief Executive Officer Christophe Fouquet.

       
    Update dividend and share buyback program
    An interim dividend of €1.52 per ordinary share will be made payable on November 7, 2024.

    In the third quarter, we did not purchase any shares under the current 2022-2025 share buyback program.

    Details of the share buyback program as well as transactions pursuant thereto, and details of the dividend are published on ASML’s website (www.asml.com/investors).

    Media Relations contacts Investor Relations contacts
    Monique Mols +31 6 5284 4418 Skip Miller +1 480 235 0934
    Sarah de Crescenzo +1 925 899 8985 Marcel Kemp +31 40 268 6494
    Karen Lo +886 939788635 Peter Cheang +886 3 659 6771

    Quarterly video interview and investor call
    With this press release, ASML has published a video interview in which CFO Roger Dassen discusses the 2024 third-quarter results and outlook for 2024 and 2025. This video and the transcript can be viewed on http://www.asml.com.

    An investor call for both investors and the media will be hosted by CEO Christophe Fouquet and CFO Roger Dassen on October 16, 2024 at 15:00 Central European Time / 09:00 US Eastern Time. Details can be found on our website.

    About ASML
    ASML is a leading supplier to the semiconductor industry. The company provides chipmakers with hardware, software and services to mass produce the patterns of integrated circuits (microchips). Together with its partners, ASML drives the advancement of more affordable, more powerful, more energy-efficient microchips. ASML enables groundbreaking technology to solve some of humanity’s toughest challenges, such as in healthcare, energy use and conservation, mobility and agriculture. ASML is a multinational company headquartered in Veldhoven, the Netherlands, with offices across EMEA, the US and Asia. Every day, ASML’s more than 43,700 employees (FTE) challenge the status quo and push technology to new limits. ASML is traded on Euronext Amsterdam and NASDAQ under the symbol ASML. Discover ASML – our products, technology and career opportunities – at http://www.asml.com.

    US GAAP Financial Reporting
    ASML’s primary accounting standard for quarterly earnings releases and annual reports is US GAAP, the accounting principles generally accepted in the United States of America. Quarterly Summary US GAAP consolidated statements of operations, consolidated statements of cash flows and consolidated balance sheets are available on http://www.asml.com.

    The consolidated balance sheets of ASML Holding N.V. as of September 29, 2024, the related consolidated statements of operations and consolidated statements of cash flows for the quarter and nine months ended September 29, 2024 as presented in this press release are unaudited. 

    Regulated information
    This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Forward Looking Statements
    This document and related discussions contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to plans, strategies, expected trends, including trends in the semiconductor industry and end markets and business environment trends, expected demand, bookings, backlog, expected recovery in the semiconductor industry and expected timing thereof including expected industry recovery continuing in 2025, plans to continue to build capacity, outlook and expected financial results, outlook of market segments, including expected results for Q4 2024, including net sales, IBM sales, gross margin, R&D costs, SG&A costs, outlook for full year 2024, including expected full year 2024 total net sales, gross margin and estimated annualized effective tax rate, expectations and modelling with respect to 2025 revenue and gross margin, statements made at our 2022 Investor Day, including revenue and gross margin opportunity for 2025 and 2030, statements with respect to execution of ESG sustainability strategy, our expectation to continue to return significant amounts of cash to shareholders through growing dividends and share buybacks, statements with respect to our share buyback program, including the amount of shares that may be repurchased thereunder and statements with respect to dividends, statements with respect to expected performance and capabilities of our systems and customer plans and other non-historical statements. You can generally identify these statements by the use of words like “may”, “will”, “could”, “should”, “project”, “believe”, “anticipate”, “expect”, “plan”, “estimate”, “forecast”, “potential”, “intend”, “continue”, “target”, “future”, “progress”, “goal”, “model”, “opportunity” and variations of these words or comparable words. These statements are not historical facts, but rather are based on current expectations, estimates, assumptions, plans and projections about our business and our future financial results and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve a number of substantial known and unknown risks and uncertainties. These risks and uncertainties include, without limitation, customer demand, semiconductor equipment industry capacity, worldwide demand for semiconductors and semiconductor manufacturing capacity, lithography tool utilization and semiconductor inventory levels, general trends and consumer confidence in the semiconductor industry, the impact of general economic conditions, including the impact of the current macroeconomic environment on the semiconductor industry, uncertainty around a market recovery including the timing thereof, the impact of inflation, interest rates, wars and geopolitical developments, the impact of pandemics, the performance of our systems, the success of technology advances and the pace of new product development and customer acceptance of and demand for new products, our production capacity and ability to adjust capacity to meet demand, supply chain capacity, timely availability of parts and components, raw materials, critical manufacturing equipment and qualified employees, our ability to produce systems to meet demand, the number and timing of systems ordered, shipped and recognized in revenue, risks relating to fluctuations in net bookings and our ability to convert bookings into sales, the risk of order cancellation or push outs and restrictions on shipments of ordered systems under export controls, risks relating to the trade environment, import/export and national security regulations and orders and their impact on us, including the impact of changes in export regulations and the impact of such regulations on our ability to obtain necessary licenses and to sell our systems and provide services to certain customers, exchange rate fluctuations, changes in tax rates, available liquidity and free cash flow and liquidity requirements, our ability to refinance our indebtedness, available cash and distributable reserves for, and other factors impacting, dividend payments and share repurchases, the number of shares that we repurchase under our share repurchase programs, our ability to enforce patents and protect intellectual property rights and the outcome of intellectual property disputes and litigation, our ability to meet ESG goals and execute our ESG strategy, other factors that may impact ASML’s business or financial results, and other risks indicated in the risk factors included in ASML’s Annual Report on Form 20-F for the year ended December 31, 2023 and other filings with and submissions to the US Securities and Exchange Commission. These forward-looking statements are made only as of the date of this document. We undertake no obligation to update any forward-looking statements after the date of this report or to conform such statements to actual results or revised expectations, except as required by law.

    Attachments

    • Link to consolidated financial statements
    • Link to press release

    The MIL Network –

    January 23, 2025
  • MIL-OSI Security: Connecticut U.S. Attorney’s Office Celebrates Annual U.S. Attorney’s Awards

    Source: Federal Bureau of Investigation (FBI) State Crime News

    The United States Attorney’s Office annual law enforcement awards ceremony was celebrated yesterday in New Haven.  The ceremony at the City of New Haven’s aldermanic chambers recognized approximately 160 individuals for their investigative work and other contributions to significant federal criminal prosecutions, civil cases, and community engagement efforts in Connecticut.  The majority of recipients are members of federal, state, and local law enforcement agencies, including 16 municipal police departments in Connecticut and Massachusetts.

    “This celebration recognizes the many valuable contributions of law enforcement professionals from police departments in cities and towns across Connecticut, those employed by state and federal agencies, and other dedicated individuals who regularly and actively join us in achieving the Office’s mission,” said U.S. Attorney Vanessa Roberts Avery.  “That singular mission is to do justice – do the right and just thing, in every circumstance.  It requires us to always stand firm in furtherance of our three primary and co-equal priorities: upholding the rule of law, safeguarding civil rights, and doing all we can to keep our residents and our communities safe.  We know that our law enforcement collaborations have been, and continue to be, essential to achieving that goal, and we thank each recipient for their invaluable commitment.  We are stronger and safer because of them.”

    In addition to criminal and civil case awards that recognized investigators of violent crime, drug trafficking, national security, child exploitation, public corruption, financial fraud, health care fraud, and other matters, U.S. Attorney Avery presented three special awards during the ceremony.

    The U.S. Attorney’s Award for Outstanding Investigator was presented to FBI New Haven Supervisory Special Agent Wendy Bowersox for her persistence and dedication that led to many federal and state prosecutions of dangerous human traffickers, and her empathy in interacting with trafficking victims, many of whom are often suspicious of law enforcement and fearful, and traumatized by the sexual, physical, and mental abuse they have suffered.  Agent Bowersox was recently promoted to the position of profiler at the FBI’s Behavioral Analysis Unit in Quantico, Virginia.

    The U.S. Attorney’s Outstanding Community Award was presented to DEA Special Agent Jonah Mazzacane and several individuals who have lost family members to overdose, who have presented to thousands of students across Connecticut about the dangers of fentanyl, other opioids, and counterfeit pills, through the U.S. Attorney’s Office’s HEAT program.

    The U.S. Attorney’s Outstanding Partnership Award was presented to members of the FBI, Connecticut State Police, State’s Attorneys, and Assistant State’s Attorneys, who participate in United Against Hate events across the state.  UAH helps raise community awareness about hate crimes, hate incidents, and discrimination, and is building bridges between law enforcement and community, ethnic, and religious groups, particularly those with members who have been reluctant to contact law enforcement for help.

    U.S. Attorney Avery also recognized members of the FBI, ATF, Bridgeport Police Department, and the U.S. Attorney’s Office, who recently won an Executive Office for United States Attorneys (EOUSA) Award for Superior Performance by a Litigative Team for their investigation and prosecution of 47 members and associates of three Bridgeport gangs who terrorized city residents from 2015 to 2022.  The investigation solved eight murders and approximately 20 attempted murders.

    The U.S. Attorney’s Office is charged with enforcing federal criminal laws in Connecticut and representing the federal government in civil litigation.  The Office is composed of approximately 68 Assistant U.S. Attorneys and 57 staff members at offices in New Haven, Bridgeport, and Hartford.

    For more information about the U.S. Attorney’s Office for the District of Connecticut, please visit http://www.justice.gov/ct.

    MIL Security OSI –

    January 23, 2025
  • MIL-OSI United Kingdom: ‘People-powered archaeology’ boosts residents’ wellbeing

    Source: City of York

    A partnership between City of York Council and York Archaeology is helping residents uncover the hidden history of Walmgate, while improving their wellbeing, making connections and gaining skills.

    The award-winning Archaeology on Prescription project is one of the first in the world to apply the social prescribing model to archaeology and heritage.

    Social prescribing connects people to activities, groups and services in their local community and has been shown to benefit those with long-term medical conditions, who need support with mental health, or who are socially isolated.

    The project is taking place on the site of Willow House, a former care home, which sits a stone’s throw from the city’s historic walls.

    Speaking in a new video about the project, Archaeology on Prescription participant, Jean, said:

    “I’d never really thought about archaeology or history before, but having got here, I was hooked and I’ve kept going since.”

    Explaining the personal impact of the programme, Jean explained:

    “When I’m here, I’m concentrating on something, so I haven’t got all sorts of other thoughts going round – I’ve got that little bit of ground.

    “I’ve found something new that I really enjoy doing. It’s no pressure, but we’re doing archaeology.”

    Participants often have never taken part in an archaeological project before but have been referred to the project by local GPs and charities such as Converge, The Hut and Blueberry Academy.

    Once onsite, they can get involved in all aspects of the archaeological process, from carrying out pre-excavation research through maps and census data, to excavating trenches and cataloguing finds.

    Another participant, Jane, speaking as she helped uncover the cellar of a Victorian terraced house, said that the programme had helped her regain her confidence after a period of illness:

    “I was looking for something to do with my time and to meet new people, because I was new to York.

    “Since doing the dig, I’ve found that my confidence that I had while I was here, that I’ve rediscovered, has stayed with me, even when I haven’t been digging.”

    Reflecting on the project, Arran Johnson, Assistant Community Project Manager, said:

    “Alongside the benefits gained through taking part, participants are also carrying out meaningful research, discovering evidence of the area’s development from as far back as prehistory to as recently as the 1970s.

    “The most exciting part for me is that our participants’ discoveries are even beginning to call some accepted theories into question, such as the extent of Roman activity in this area, which seems to be greater than previously thought. 

    “We will continue this project in 2025, continuing to provide social prescribing, alongside broadening access to wider community involvement as part of our mission to make archaeology more accessible and allow everyone to experience the wonder of uncovering the past.”

    Cllr Pete Kilbane, Executive Member for Economy and Culture at City of York Council, said:

    “The rich tapestry of York’s long history is something that belongs to all of us.

    It is truly inspiring to see how this project is empowering residents to take an active role in learning more about the people who’ve shaped the city over centuries.

    “The results have been transformative for many of the participants, who have had the opportunity not only to discover a new passion for archaeology, but to make social connections, gain new skills and build their confidence.”

    As well as providing permission to dig on the site, the council has provided £85,000 of financial support to the project through the UK Shared Prosperity Fund, and has previously provided £120,0000 through the Community Renewal Fund.

    Find out more about the project and its impact by watching the full case study video.

    MIL OSI United Kingdom –

    January 23, 2025
  • MIL-OSI USA: Deadline Approaching in Washington for SBA Working Capital Loans Due to Excessive Heat

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, today reminded small nonfarm businesses in 22 Washington counties and neighboring counties in Oregon of the Nov. 14, 2024, deadline to apply for an SBA federal disaster loan for economic injury. These low-interest loans are to offset economic losses because of reduced revenues caused by excessive heat in the following primary counties that occurred March 15–July 31, 2023.

    Primary Washington counties:  Adams, Benton, Chelan, Douglas, Franklin, Grant, Kittitas, Klickitat, Okanogan, Walla Walla and Yakima;
    Neighboring Washington counties: Columbia, Ferry, King, Lewis, Lincoln, Pierce, Skagit, Skamania, Snohomish, Whatcom and Whitman;
    Neighboring Oregon counties:  Hood River, Gilliam, Umatilla, Morrow, Wasco and Sherman.

    When farmers face crop losses and a disaster is declared by the Secretary of Agriculture, SBA working capital loans become a lifeline for eligible small businesses. “These loans are the backbone that helps rural communities bounce back and thrive after a disaster strikes,” Sánchez said.

    According to Sánchez, small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disaster. “Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact,” Sánchez continued.

    “SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster. Economic injury assistance is available regardless of whether the applicant suffered any property damage,” Sánchez added.

    The interest rate is 4 percent for businesses and 2.375 percent for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

    Interest does not begin to accrue until 12 months from the date of the initial disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.

    By law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on March 14.

    Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration.

    Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    ###

    About the U.S. Small Business Administration
    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit http://www.sba.gov.

    MIL OSI USA News –

    January 23, 2025
  • MIL-OSI Europe: EU funding available for European literary translation

    Source: European Union 2

    Apply before 11 February 2025 to get funding for the translation, publication, distribution, and promotion of European literary works of fiction. With a budget of €5 million, Creative Europe finances about 40 projects this call.

    The call Circulation of European Literary Works supports the transnational circulation and the diversity of European literary works through the translation, publication, distribution, and promotion of European literary works of fiction .

    With a budget of €5 million, about 40 projects will be selected for funding.

    The deadline for applications is 11 February 2025.

    Eligibility

    Interested organisations can apply individually or as a consortium of at least 2 eligible organisations. Each project must have a sound editorial, distribution and promotion strategy and propose a minimum of 5 eligible works of fiction written by authors who are nationals of, or residents in, or recognised as part of the literary heritage of an eligible country.

    Applicants can apply with projects of different sizes:

    • Small scale: projects proposing at least 5 translations of eligible works 
    • Medium scale: projects proposing at least 11 translations of eligible works
    • Large scale: projects proposing at least 21 translations of eligible work

    MIL OSI Europe News –

    January 23, 2025
  • MIL-OSI: Introducing the RWA Launchpad: Your All-In-One Platform for Launching Real-World Asset Tokens

    Source: GlobeNewswire (MIL-OSI)

    ROAD TOWN, British Virgin Islands, Oct. 15, 2024 (GLOBE NEWSWIRE) — RWA Inc. is thrilled to announce the official launch of the RWA Launchpad — This all-in-one platform is set to redefine how entrepreneurs, investors, and businesses engage with tokenized markets, offering opportunities to raise funds, launch tokens, and participate in the rapidly growing world of real-world asset (RWA) markets.

    Tokenizing real-world assets creates a wide range of investment opportunities, democratizing access to traditionally illiquid markets like real estate, commodities, and private equity. Historically, asset tokenization has been a complex process, creating barriers for asset owners and investors alike. The RWA Launchpad removes these barriers by offering a secure, intuitive, and compliant solution for users to explore new investment opportunities in tokenized assets.

    The RWA Launchpad stands out with its focus on security, efficiency, and ease of use, offering unparalleled solutions for both asset owners and investors, its key features include:

    1. Flexible Investment Opportunities
      The RWA Launchpad provides various ways to participate in tokenized markets, including Initial DEX Offerings (IDOs), private sales, staking, and community-driven crowdfunding. The platform accommodates a range of investment strategies, making participation simple and accessible.
    2. Comprehensive Platform
      From token minting to liquidity and trading, the RWA Launchpad offers an end-to-end platform for managing digital assets. Allowing the user to launch startup utility tokens seamlessly, while maintaining regulatory compliance.
    3. User-Centric Approach
      Designed for all user levels, the platform’s intuitive interface, KYC/AML infrastructure, and dedicated support ensure a smooth experience for both newcomers and seasoned investors. From token creation to secondary market trading, the platform provides transparency, security, and convenience.

    At RWA Inc., our mission is clear: to revolutionize access to investment through the seamless tokenization, listing and trading of real-world assets. Web3 is transforming how assets like real estate, startup equity, and collectibles are bought, sold, and traded. By fractionalizing high-value assets, the RWA Launchpad broadens their market reach and unlocks liquidity, creating opportunities for investors who may not have had access to these markets previously.

    As one of the fastest-growing sectors in decentralized finance (DeFi), real-world asset tokenization has drawn the attention of major investment firms, including BlackRock. Market research predicts that the RWA tokenization market will surpass $16 trillion by 2030, and RWA Inc. is poised to lead this space by providing secure, scalable solutions for both asset owners and investors.

    Getting started with the RWA Launchpad is simple. Users can register via the platform’s streamlined onboarding process and immediately begin exploring tokenization opportunities or investing in Web3 projects. With access to educational resources and tools, the platform ensures users of all experience levels can confidently navigate the tokenized market.

    Getting started with the RWA Launchpad is a straightforward process. Our website contains a comprehensive guide so both new and experienced users can explore our products with confidence.

    The launch of the RWA Launchpad is just the beginning. RWA Inc. plans to introduce new features, including secondary market trading and advanced analytics, as we continue to innovate and expand the tokenization landscape. By enhancing liquidity, empowering startups, and opening access to tokenized RWAs, we aim to drive the future of investment.

    The RWA Launchpad is designed for everyone—whether you’re a seasoned investor, an entrepreneur, or someone new to the world of tokenization. Our comprehensive platform is your gateway to a world of tokenized assets and Web3 projects, ensuring anyone can participate in this rapidly growing market.

    For more information, or to sign up for the RWA Launchpad, visit our website.

    Stay connected:

    Twitter/X | Telegram Community | Medium | Website

    Contact Details:

    Kevin Yunai
    Founder and CEO
    kevin@rwa.inc 

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

    Images accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/556b4388-be9d-4dfe-af35-aee594ae1806
    https://www.globenewswire.com/NewsRoom/AttachmentNg/4c87380d-7d21-4ce5-bd67-a99fac7537b1

    The MIL Network –

    January 23, 2025
  • MIL-OSI Canada: Appointments to the Judicial Compensation and Benefits Commission

    Source: Government of Canada News (2)

    The Honourable Arif Virani, Minister of Justice and Attorney General of Canada, today announced the appointments of Graham Flack, Douglas Hodson, and Anne Giardini, to the Judicial Compensation and Benefits Commission.

    October 15, 2024 – Ottawa – Department of Justice Canada

    The Honourable Arif Virani, Minister of Justice and Attorney General of Canada, today announced the appointments of Graham Flack, Douglas Hodson, and Anne Giardini, to the Judicial Compensation and Benefits Commission.

    The Judicial Compensation and Benefits Commission, also known as the Quadrennial Commission, is established under the Judges Act (the Act) to examine the adequacy of the salaries and benefits of the federally appointed judiciary. Additional information on the Judicial Compensation and Benefits Commission is available at quadcom.gc.ca.

    Biographies

    Graham Flack of Ottawa is appointed as the member nominated by the Minister of Justice and Attorney General of Canada. Mr. Flack received degrees in political science and economics from Dalhousie and Oxford University where he was a Rhodes Scholar. He is a former law clerk of the Supreme Court of Canada and graduated with an LL.B. from Dalhousie University and an LL.M. from Harvard University. Mr. Flack began his career in the Privy Council Office and worked on the Quebec referendum campaign, the Quebec Secession Reference and Clarity Act. Following 9/11 he became Director of Operations and led work on the Canada-US Smart Borders Declaration, as well as Canada’s first National Security Policy. He held senior executive roles at Natural Resources Canada and the Department of Finance where he was Assistant Deputy Minister, International Trade and Finance and worked on the G7 and G20 response to the worst economic crisis since the Great Depression. From 2010-2013, he was Associate Deputy Minister then-Acting Deputy Minister at Public Safety Canada. From 2013-14, he was Deputy Secretary to the Cabinet at the Privy Council Office. From 2014-18, he was Deputy Minister of Canadian Heritage. From 2018-2022, he was Deputy Minister of Employment and Social Development Canada. From 2022-2024, he was Secretary of the Treasury Board. Mr. Flack is the founding chair of the Deputy Minister Committee on Innovation and Deputy Minister Champion for the Federal Youth Network and for Dalhousie University.

    Douglas Hodson, K.C., of Saskatoon is appointed as the member nominated by the judiciary. Mr. Hodson attended the University of Saskatchewan and earned a B.Comm. (with honours) in 1981 and a LL.B. (with distinction) in 1984. He was admitted to the Saskatchewan bar in 1985. Mr. Hodson is a partner at MLT Aikins LLP in Saskatoon since 1984. He focuses on commercial litigation and has significant experience in complex arbitrations, transportation law, and shareholder disputes. He has argued significant cases before all levels of court in Saskatchewan, British Columbia, Alberta, Manitoba and Ontario and before the Federal Courts and the Supreme Court of Canada. He was appointed King’s Counsel in 2007. Mr. Hodson is a fellow of the American College of Trial Lawyers and a fellow of the Litigation Counsel of America. He is one of the most distinguished community leaders in Saskatoon. His volunteer portfolio is diverse and extensive, and includes active involvement with a number of professional, business and social organizations. His significant contributions to his profession and community have been recognized on numerous occasions.

    Anne Giardini, K.C., of Toronto is appointed Chair following her nomination by the other two members of the Judicial Compensation and Benefits Commission. Ms. Giardini is a Canadian business executive, journalist, lawyer, and writer. She earned a B.A. from Simon Fraser University and a LL.B. from the University of British Columbia. She also holds an LL.M. from Cambridge University. She was admitted to practise in Ontario, British Columbia, and Washington State. From 1985 to 2020, Ms. Giardini clerked at the Court of Appeal for British Columbia, articled at Bull Housser & Tupper (now Norton Rose), practised at Mawhinney & Kellough (now Dentons) in Vancouver, before moving to Italy to work for a US law firm. In 1994, she joined Weyerhaeuser Company Limited, Canadian subsidiary of Weyerhaeuser Company, an international forest products company with a head office in Washington. She was Canadian vice-president and general counsel from 2006 to 2008 and president from 2008 to 2015. Since 2015, she is a sole corporate director. She was appointed King’s Counsel in 2009. Ms. Giardini is an active volunteer and has served as Chair of the Greater Vancouver Board of Trade, Vancouver International Writers Festival, UniverCity at SFU, and Simon Fraser University as deputy chair. She is also a supporter of Plan Canada and volunteer for Vancouver YWCA’s Women of Distinction Awards and Young Women in Business. She served as the 11th chancellor of Simon Fraser University from 2014 to 2020. She has been on the boards of Hydro One, mining companies, the Sustainable Forestry Initiative Inc. and other companies. Ms. Giardini was awarded a Queen Elizabeth II Diamond Jubilee Medal in January 2013 for her fundraising efforts for Plan Canada’s Because I’m a Girl campaign. She was appointed an Officer of the Order of Canada in 2016 and was appointed an Officer of British Columbia in 2018.

    Chantalle Aubertin
    Deputy Director, Communications
    Office of the Minister of Justice and Attorney General
    613-992-6568
    Chantalle.Aubertin@justice.gc.ca

    MIL OSI Canada News –

    January 23, 2025
  • MIL-OSI Security: Former Health Care Manager Sentenced to Prison for Embezzlement Scheme

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

    MACON, Ga. – The former office manager of a Middle Georgia chiropractic office was sentenced to serve more than five years in prison after a federal jury found her guilty of committing bank fraud and other federal crimes in an embezzlement scheme that cost an established spinal center more than $200,000 in losses and resulted in its closure.

    Emiliya Radford, 33, of Warner Robins, Georgia, was sentenced to serve 66 months in prison to be followed by three years of supervised release by U.S. District Judge Marc Treadwell on Oct. 9. In addition, Radford will pay $298,042.72 in restitution to Dr. James C. Smith on behalf of Smith Spinal Care Center. Radford was found guilty of one count each of bank fraud, wire fraud and federal program theft following approximately one hour of deliberations by a federal jury on June 27. There is no parole in the federal system.

    “Financial crime can be life-changing for its victims; here, it forced a business’s closure and burdened innocent people with debt and other troubles,” said U.S. Attorney Peter D. Leary. “FBI and our other federal, state and local law enforcement partners will work to protect small businesses from financial crimes and hold fraudsters accountable.”

    “Radford violated the trust of the company that hired her and elevated her to a position of leadership,” said Robert Gibbs, Senior Supervisory Senior Resident Agent of FBI Atlanta’s Macon office. “Because of her selfishness and greed, she has not only thrown away her career, but crippled a business and took away jobs from numerous victims. She will now serve a well-deserved prison sentence.”

    According to court documents and evidence submitted at trial, Radford’s company, Cyber Pinecone, was hired in Sept. 2019 under a one-year contract to perform marketing work for Smith Spinal Care Center (SSCC) in Warner Robins. In May 2020, Radford was hired as Office Manager at the business, and her new salary included marketing work. Radford was given signatory authority over the SSCC bank account and was responsible for issuing and signing all biweekly payroll checks, including her own.

    Radford collected her salary as office manager and, without authorization of SSCC, continued to write and endorse checks to her business, Cyber Pinecone, for extensive marketing work totaling more than $200,000. In addition, she gave herself an unauthorized pay raise and used money from the SSCC bank account to purchase $11,015.67 worth of items from the Apple store that she shipped to her residence. When Radford quit on Dec. 19, 2022, none of the Apple items could be located at SSCC, but some were found inside her home when federal agents executed a search warrant on May 4, 2023. A portion of the embezzled funds came from COVID-19 Federal Economic Disaster Loans (EIDL) directed to aid the business.

    The case was investigated by FBI.

    Assistant U.S. Attorney Elizabeth Howard prosecuted the case for the Government.

    MIL Security OSI –

    January 23, 2025
  • MIL-OSI Economics: Swaminathan J: Central banks and financial stability

    Source: Bank for International Settlements

    Distinguished panellists – Prof. Randall S. Kroszner, Professor, University of Chicago and Former Governor, Federal Reserve Board; Ms. Emmanuelle Assouan, Director General, Financial Stability and Operations, Banque de France; Ms. Sarah Breeden, Deputy Governor for Financial Stability, Bank of England; Dr. Sajjid Chinoy, Managing Director and Chief Economist India, JP Morgan; esteemed delegates and colleagues from the Reserve Bank. A very good afternoon to all of you.

    It is an honour to open this discussion on this very important and pertinent topic in today’s financial world – “Central Banks and Financial Stability: Assessing Risks and Building Resilience.”

    The financial sector is the backbone of the economy, enabling efficient allocation of resources, managing risks through various instruments, and ensuring smooth payments and settlements. It performs crucial functions that support investments and drives economic growth. Therefore, the financial sector becomes the cornerstone of a well-functioning economy.

    The financial sector is vulnerable to risks-especially systemic ones that, which if left unchecked, can have far-reaching consequences. As you are aware these systemic risks manifest across two dimensions: time and interconnectedness. On the one hand, financial risks can build up over time, especially in periods of economic euphoria. On the other, the growing interconnections between financial institutions, markets, and the broader economy make the system more open to shocks.

    In today’s world, challenges are more complex and unpredictable than ever. Traditional risks, like credit and liquidity risks, now have new and faster drivers. For example, bank runs that once unfolded over days, giving regulators time to respond, can now occur within hours due to the speed of internet and mobile banking. The increasing reliance on technology also introduces vulnerabilities, such as dependence on third-party service providers and heightened cybersecurity threats, all while customers expect uninterrupted services. Additionally, we face emerging risks, such as climate risk.

    In this increasingly volatile environment, building resilience is crucial to maintaining financial stability. However, resilience is a balancing act-too much emphasis on safeguarding can stifle innovation and growth, while too little can expose the system to significant vulnerabilities. Finding that right balance so that we can have a robust financial system that can weather crises without constraining economic progress is one of the key challenges that we face today.

    Indeed, central banks are much like wicketkeepers in cricket or goalkeepers in football-often unnoticed in success but always in the spotlight during failure. When everything works seamlessly, their efforts remain behind the scenes, often taken for granted. However, when a crisis occurs, they are asked as to how they could allow the ball to slip through their fingers! In addition, Central Bankers are also tasked with preventing further damage and restoring stability quickly.

    Let me offer an analogy: imagine a person teetering on the edge of a cliff, seemingly about to fall, only to be pulled back just in time by a watchful observer. When central banks intervene in such a manner to prevent a potential crisis, those they protect may claim they didn’t need saving at all. This highlights a common paradox-while regulators work tirelessly to maintain stability and avert disasters, their successes often go unnoticed, and their actions are sometimes viewed as unnecessary, intrusive or excessive by those unaware of the risks. Yet it is precisely this proactive oversight that ensures the safety and soundness of the financial system, allowing it to function smoothly even in times of uncertainty.

    Over the years, the role of central banks has significantly evolved. Initially seen as the lender of last resort, today, central banks are equipped with a broad range of tools-regulatory, supervisory, and monetary-to ensure the stability of the financial system. In some countries, central banks do not have supervisory roles, with the supervision being carried out by a separate agency, but a coordinated approach is essential. Governments, central banks, financial regulators, and the industry must all work together to ensure appropriate and timely action is taken to safeguard financial stability.

    In India, the Financial Stability and Development Council (FSDC), chaired by the Union Finance Minister, along with its sub-committee led by the Governor of the Reserve Bank, has been effectively facilitating discussions and enhanced understanding of risks across the financial sector. Biannually, Reserve Bank publishes Financial Stability Reports that deliver a thorough risk assessment of India’s financial landscape. These reports utilise macro stress tests, sensitivity analyses, network and contagion assessments, and systemic risk surveys to provide valuable insights into potential vulnerabilities that affect the financial sector. Apart from inter-regulatory coordination, RBI also actively engages with the industry through regular engagements/ interactions including conferences with the Boards of supervised entities, periodic meetings with the MDs & CEOs, Heads of Assurance functions as well as interactions with auditors.

    Having discussed the importance of domestic coordination, I would also like to emphasise the significance of global supervisory cooperation. Historically, crises have acted as catalysts for bringing supervisors together to address shared challenges. For instance, the Basel Committee on Banking Supervision was formed in the aftermath of the Herstatt Bank failure, highlighting the necessity for a coordinated response to systemic risks. However, we should not wait for crises to play out before strengthening international collaboration. Greater engagement for proactive horizon scanning of potential risks and vulnerabilities, along with discussions on strategies to mitigate and address these challenges, can enhance our collective resilience and crisis preparedness.

    Indeed, as a part of our agenda for the next decade, RBI@100, the Reserve Bank intends to engage more with the central banks of the global south. The Reserve Bank also aims to establish a global model of risk-focused supervision by fostering a strong risk discovery and compliance culture, building a “through-the-cycle” risk assessment framework. Reserve Bank is working to create a comprehensive data analytics ecosystem to support its supervisory functions.

    With these thoughts in mind, I look forward to a rich and insightful panel discussion on how central banks can continue to enhance financial stability and build a resilient global financial system. Thank you!

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI Economics: Michael Debabrata Patra: Assessing inflation targeting

    Source: Bank for International Settlements

    The Context

    Over the past three and a half decades since the formal adoption of inflation targeting (IT), it has proliferated across continents, regardless of the position of host jurisdictions in the developmental ladder. By the turn of this century, it has been increasingly embraced by emerging market economies (EMEs) so much so that they now outnumber advanced economies (AEs) as practitioners. A unique feature of IT is its operationalisation even before the development of a formal theory. The journey of IT has been tumultuous, navigating as it has the Great Moderation and ‘once in a century’ shocks such as the global financial crisis (GFC), the COVID-19 pandemic, and persisting geopolitical conflicts that have had a direct bearing on both inflation’s evolution and on financial conditions. Yet, there is no evidence of any major country abandoning it. On the other hand, central banks have drawn lessons from these humungous challenges and innovated and refined their policy frameworks. The endogenous evolution of IT has rendered it the longest surviving monetary policy framework in modern times.

    Three pillars of the framework – flexibility; transparency and, therefore, accountability; and credibility – have enabled IT to stand the test of time. Empirical evidence suggests that the post-pandemic price shocks have actually had relatively short-lived effects in comparison with the persistence of the price shocks of the 1970s on the wider acceptance that monetary policy will do whatever it takes. The effectiveness of inflation targeting is also found to be underpinned by its institutional quality, reinforcing pre-pandemic evidence pointing to IT being a better absorber of shocks than other regimes. The taming of the post-pandemic surge in inflation down to its last lap provides further validation of the framework. Everywhere, long-term inflation expectations remain broadly anchored in spite of heightened uncertainty.

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI USA: The

    Source: US State of Pennsylvania

    October 11, 2024 – Yardley, PA

    The “It’s Fall-ier in PA Swagon” is On the Road to Promote Pennsylvania as The Great American Getaway

    The Department of Community and Economic Development (DCED) launched the “It’s Fall-ier in PA Swagon” to demonstrate why Pennsylvania: The Great American Getaway is the ultimate destination for fall enthusiasts. The Swagon is a classic hay wagon and rustically designed trailer that will provide an immersive experience to evoke the scents and sights of fall in Pennsylvania.

    Announced September 23, the Visit PA “It’s Fall-ier in PA” campaign is leaning into Pennsylvania’s premier position as the place to experience the very best of autumn – from unrivaled fall foliage and the nation’s most historical haunts to the season’s best scents and treats. On Wednesday, Governor Josh Shapiro promoted fall travel in Pennsylvania by visiting Black Moshannon State Park – one of 124 free state parks in Pennsylvania – and unveiled new color-correcting viewfinders to help colorblind and color deficient visitors view the best fall foliage in the nation.

    “We’re excited to take Pennsylvania’s fabulous fall season on the road to encourage and inspire more people to experience all that the Commonwealth has to offer,” said DCED Deputy Secretary of Tourism Anne Ryan. “Fall travel is vital to Pennsylvania’s economy and contributes significantly to the $76.7 billion impact that tourism generates for the Commonwealth. Our “It’s Fall-ier in PA Swagon” will help entice the millions who live within a four-hour drive of the Commonwealth to discover why they should plan their perfect fall getaway in Pennsylvania.”

    MIL OSI USA News –

    January 23, 2025
  • MIL-OSI USA: Treasurer Stacy Garrity and Senator Bob Casey: PA ABLE Savings Program Surpasses $135 Million in Assets

    Source: US State of Pennsylvania

    October 14, 2024 – Allentown, PA

    Treasurer Stacy Garrity and Senator Bob Casey: PA ABLE Savings Program Surpasses $135 Million in Assets

    Treasurer Stacy Garrity and Senator Bob Casey announced the PA ABLE Savings Program has surpassed $135 million in assets, a major program milestone. PA ABLE (Achieving a Better Life Experience) accounts help Pennsylvanians with disabilities and their families to save for disability-related expenses without impacting important benefits.

    “The growth of PA ABLE is truly amazing and it’s changing lives,” Treasurer Garrity said. “Earlier this year, we announced that we surpassed $100 million in assets. Today, we’re over $135 million. Those are great numbers, but it’s far more important to understand what they mean: Pennsylvanians with disabilities are saving with PA ABLE because it works. I will keep fighting to make PA ABLE even stronger because everyone deserves financial independence and security. ABLE has deep, bipartisan roots in Pennsylvania, and I’m proud to promote it everywhere I go.”

    Senator Casey joined Pennsylvania Treasury’s Deputy Treasurer for Consumer Programs, Julie Peachey, at the Lehigh Valley Center for Independent Living (LVCIL) in Allentown Monday to make the announcement.

    Speakers Include:
    Tony Swartz, LVCIL Board President
    Senator Bob Casey
    Julie Peachey, Deputy Treasurer for Consumer Programs
    Jacey Surbrook, ABLE Account Owner
    Lisa Sportelli, Parent of an ABLE Account Owner

    MIL OSI USA News –

    January 23, 2025
  • MIL-OSI: Prospect Capital Corporation Closes $764 Million of New Investments in Fiscal Year June 2024

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) — Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) closed $764 million of new investments during its fiscal year ended June 30, 2024, investing in 38 new and existing portfolio companies.

    91% of PSEC’s originations during fiscal year 2024 were first lien, senior secured loans.

    Selected investments in both new and existing portfolio companies during fiscal year 2024 include:

    • $56 million of first lien loans to refinance the debt of a provider of clinical trial services. The company is a clinical development services provider that operates and conducts clinical trials for pharmaceutical and biotechnology customers.
    • $60 million of primarily first lien loans to finance an acquisition of a provider of business process outsourcing solutions. The company provides customer experience services and business process outsourcing services, which includes customer call centers, online chat, text message, and general ‘contact center as a service’.
    • $26 million of primarily first lien loans to finance an acquisition of a healthcare services provider. The company is a detox and rehabilitation provider that offers residential inpatient treatment, partial hospital programs, and intensive outpatient care in multiple restore facilities.
    • $30 million of a first lien loan to finance a shareholder distribution for a direct-to-consumer marketing company. The company is a direct marketer and distributor of modern-era government-issued gold and silver coins.
    • $37 million of primarily first lien loans to finance an add-on acquisition and shareholder distribution for a logistics service provider. The company provides turnkey inventory management and transportation services.
    • $13 million of a first lien loan to finance an add-on acquisition by a furniture provider. The company provides furniture and furnishings to residential and commercial end markets, including churches, hospitality, offices, restaurants, and schools.
    • $10 million of first lien loans for a healthcare services provider in a secondary transaction. The company is a home-based infusion pharmacy services provider serving patients with chronic conditions.
    • $20 million of first lien loans to finance a shareholder distribution of a branded jeweler designer. The company is a designer and retailer of distinctive handcrafted gold-plated women’s jewelry decorated with semi-precious stones, including necklaces, bracelets, rings, and earrings.

    In addition, as of October 14, 2024, Prospect is processing an investment pipeline of more than $350 million, which includes transactions where due diligence and analysis are still in process.

    The investment pipeline includes transactions for which a formal mandate, letter of intent, or signed commitment may or may not have been issued. The consummation of any of the investments in this pipeline depends upon, among other things, one or more of the following: satisfactory completion of Prospect’s due diligence investigation of the prospective portfolio company, Prospect’s acceptance of the terms and structure of such investment, and the execution and delivery of transaction documentation satisfactory to Prospect. In addition, Prospect may sell all or a portion of these investments and certain of these investments may result in the repayment of existing investments. Prospect cannot assure you that it will make any of these investments or that Prospect will sell all or any portion of these investments.

    About Prospect Capital Corporation

    Prospect is a business development company that focuses on lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

    Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 (“1940 Act”). Prospect is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. We have elected to be treated as a regulated investment company under the Internal Revenue Code of 1986.

    Caution Concerning Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.

    For further information, contact:

    Grier Eliasek, President and Chief Operating Officer

    grier@prospectcap.com

    Telephone (212) 448-0702

    The MIL Network –

    January 23, 2025
  • MIL-OSI USA: Wasserman Schultz, Salazar Sponsor Bipartisan REVOCAR Act to Defund Maduro’s Repression of Venezuelans

    Source: United States House of Representatives – Representative Debbie Wasserman Schultz (FL-23)

    “Maduro’s brutal regime refuses to honor the undeniable election results, despite clear evidence proving his loss. Rescinding these special licenses, which exclusively serve to subsidize the regime’s crony corruption, violent repression, and flagrant human rights abuses, must be part of our international effort to reject Maduro’s election theft,” said Wasserman Schultz. “If we truly intend to see through a peaceful transition of power and honor the will of the Venezuelan people, we cannot afford to indulge fossil fuel companies’ investors at the expense of democracy.”

    WASHINGTON, D.C. – Today, U.S. Reps. Debbie Wasserman Schultz (FL-25), co-chair of the Congressional Venezuela Democracy Caucus, and María Elvira Salazar (FL-27), Chair of the House Foreign Affairs Subcommittee on the Western Hemisphere, introduced the bipartisan Revoke Exemptions for Venezuelan Oil to Curb Autocratic Repression Act, or REVOCAR Act, to prohibit new and existing licenses for companies to transact with Venezuela’s state oil company, which provides revenue for the Maduro regime’s crimes against humanity. U.S. Senator Dick Durbin (D-IL) previously introduced a similar bill in the Senate.

    “Maduro’s brutal regime refuses to honor the undeniable election results, despite clear evidence proving his loss. Rescinding these special licenses, which exclusively serve to subsidize the regime’s crony corruption, violent repression, and flagrant human rights abuses, must be part of our international effort to reject Maduro’s election theft,” said Wasserman Schultz. “If we truly intend to see through a peaceful transition of power and honor the will of the Venezuelan people, we cannot afford to indulge fossil fuel companies’ investors at the expense of democracy.”

    “It’s long past time to cut off the flow of money that the Maduro Dictatorship uses to oppress their people,” said Salazar. “We are sending a loud and clear message that if Maduro stays, there will be no oil money for the Venezuelan regime.”

    “Despite the sweeping and clear opposition victory in the recent Venezuelan presidential election, the Maduro regime refused to release results, announced that it had won instead, and arbitrarily arrested thousands of opposition supporters,” said Durbin. “We must put an end to the outright theft of the Venezuelan voters’ overwhelming choice for a better future.  I’m pleased that Reps. Wasserman Schultz and Salazar are introducing the House bill to terminate all U.S. petroleum cooperation and related trade with Venezuela until the legitimate results of the recent election are respected. The Maduro regime clings to power using oil revenues dependent on U.S. involvement.  Under our bill, that will end, and so will Maduro’s financial strength.”

    The REVOCAR Act would prohibit U.S. persons and entities from engaging in transactions with PdVSA, Venezuela’s regime-controlled energy company, eliminating General Licenses issued by the Treasury Department’s Office of Foreign Assets Control (OFAC) that allow certain companies to do business with the Maduro regime. These prohibitions would extend for three years or until the President certifies that a democratic transfer of power to Venezuelan president-elect Edmundo González has taken place.

    On July 28, 2024, more than 10,000,000 citizens of Venezuela voted in a presidential election in which meticulously documented and publicized data from credible election monitors clearly and convincingly showed that opposition candidate Edmundo Gonzalez received more than two-thirds of the votes against the regime of Nicolas Maduro. The Maduro regime has refused to respect the overwhelming choice of the people of Venezuela and subsequently arrested and abused thousands of innocent citizens of Venezuela, including children, for peaceful political participation.

    Reps. Wasserman Schultz and Salazar have partnered on recent efforts promoting democracy in Venezuela including the VOICE Act, which would place individual sanctions on anti-democratic officials in the Maduro regime, and the AFFECT Human Rights in Venezuela Act, which would direct U.S. support for international investigations and reporting on the Maduro regime’s criminal repression of the Venezuelan people.

    The full text of the bill can be found here.

    ###

    MIL OSI USA News –

    January 23, 2025
  • MIL-OSI: Sheaff Brock is #7 on the CNBC Financial Advisor 100 List

    Source: GlobeNewswire (MIL-OSI)

    INDIANAPOLIS, Oct. 15, 2024 (GLOBE NEWSWIRE) — Ranking at #7 in the 2024 CNBC FA 100 list, Sheaff Brock announced its 5th consecutive year in being selected as one of CNBC’s top 100 advisory firms from across the United States that help clients successfully navigate their financial lives.

    Sheaff Brock ranks #7 on the 2024 CNBC FA 100 list,
    its 5th consecutive year of placing as one of CNBC’s top 100
    registered investment advisory firms in the U.S.

    Sheaff Brock Managing Directors and co-founders Dave Gilreath and Ron Brock shared their excitement with the 2024 results. “To be ranked 7th in the U.S. is an incredible achievement. We’re honored to be on this list for our straight fifth year, and even more proud of this year’s ranking,” said Brock.

    Gilreath added, “I believe being listed at #7 is a testament to the strength of our team here at Sheaff Brock. It shows the dedication of our certified financial planners, portfolio consultants, administrative coordinators—and our entire team—to supporting our clients and helping them achieve their long-term financial goals.”

    To develop the 2024 list, CNBC enlisted data provider AccuPoint Solutions to assist with the ranking of registered investment advisors for the 2024 CNBC FA 100 list. Analyzing data from 40,896 RIAs, AccuPoint screened multiple aspects such as years in business, total accounts, total assets under management, number of certified financial planners, number of employees, and the firm’s compliance record to trim the list down to 903 RIAs. From there, CNBC and AccuPoint distilled the list into the final 100 advisory firms based on additional data provided by each firm via email survey.

    In 2020, the first year Sheaff Brock made the list, the company ranked #95; in 2021, Sheaff Brock ranked #82; in 2022, #68; and the firm came in at #10 in last year’s list in 2023.

    About Sheaff Brock:
    Sheaff Brock is an SEC-registered, fee-only independent investment firm striving to enhance portfolios of growth- and income-oriented investors, managing $1.3 billion in assets nationwide as of 06/30/2024. Managing Director David Gilreath contributes investment commentary to CNBC.com, ThinkAdvisor, Medical Economics, and Financial Advisor magazine. Visit sheaffbrock.com for more information.

    Disclosure: 
    Sheaff Brock Investment Advisors, LLC (“SBIA”) is an SEC-registered investment advisor founded in 2001. Clients or prospective clients are directed to SBIA’s Form ADV Part 2A prior to deciding to participate in any portfolio or making any investment decision. The views and opinions in the preceding commentary are subject to change without notice and are as of the date of the report. There is no guarantee that any market forecast set forth in the commentary will be realized. This material represents an assessment of the market environment at a specific point in time, should not be relied upon as investment advice, and is not intended to predict or depict performance of any investment.

    About CNBC Financial Advisor 100
    The 2024 CNBC Financial Advisor 100 (ranked 7th 10/2/24), 2023 CNBC Financial Advisor 100 (ranked 10th, 9/12/23), 2022 CNBC Financial Advisor 100 (ranked 68th, 10/4/22), 2021 CNBC Financial Advisor 100 (ranked 82nd, 10/6/21) & the 2020 CNBC Financial Advisor 100 (ranked 95th, 10/6/20) list is an independent ranking. CNBC enlisted data provider AccuPoint Solutions to assist with the ranking of registered investment advisors for the CNBC FA 100 list. The analysis started with 40,896 RIA firms for 2024, 40,646, RIA firms for 2023, 39,818 RIA firms for 2022, 38,302 for 2021 and 37,369 for 2020 from the Securities and Exchange Commission regulatory database. AccuPoint screened the list down to 903 RIAs for 2024, 812 RIAs for 2023, 904 RIAs for 2022, 749 for 2021, and 750 for 2020 who were required to complete a survey to be in consideration for the CNBC FA 100 list. Sheaff Brock does not pay for applying for the award; however, Sheaff Brock does pay for use of the CNBC Financial Advisor 100 logo.

    Data points used by AccuPoint for the ranking included regulatory/compliance record, number of years in the business, number of certified financial planners, number of employees, number of investment advisors registered with the firm, ratio of investment advisors to total number of employees, total assets under management, percentage of discretionary assets under management, total accounts under management, number of states where the RIA is registered and country of domicile.

    Third-party rankings and recognition from rating services or publications, such as the CNBC FA 100, is no guarantee of future investment success and working with a highly rated advisor does not ensure that a client or prospective client will experience a higher level of performance or results. The ranking may not reflect a client or prospective client’s experience with the registered investment advisor. Past performance does not guarantee or indicate future results.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b7c16cee-9ec4-4c47-b365-939d99e7291c

    The MIL Network –

    January 23, 2025
  • MIL-OSI Canada: Minister MacAulay announces research funding for an innovative, sustainable poultry sector

    Source: Government of Canada News

    News release

    Today, the Honorable Lawrence MacAulay, Minister of Agriculture and Agri-Food, toured the University of Guelph’s research facilities to meet with researchers and learn about their innovative work in support of a sustainable poultry sector.

    October 15, 2024 – Guelph, Ontario – Agriculture and Agri-Food Canada

    Today, the Honorable Lawrence MacAulay, Minister of Agriculture and Agri-Food, toured the University of Guelph’s research facilities to meet with researchers and learn about their innovative work in support of a sustainable poultry sector. As part of his visit, Minister MacAulay highlighted that the Government of Canada is delivering an investment of $5,155,608 to the Canadian Poultry Research Council (CPRC) through the AgriScience Program – Clusters Component, an initiative under the Sustainable Canadian Agricultural Partnership.

    This funding will allow the CPRC to partner on research that will ensure poultry welfare at all levels of the production chain, meeting the consumer demand for healthy and safe poultry products, and decreasing the environmental impacts of poultry farms—including ambient air quality, emissions, and the effect on humans and birds in the surrounding area.

    Some examples of Cluster activities include upcycling Canadian fruit waste to develop novel feed ingredients, managing environmental conditions to reduce the risk of avian influenza, researching alternatives to antimicrobials, and optimizing feed to reduce particulate matter emissions.

    Research funding in the poultry sector is crucial for the continued development of sustainable practices and improved animal welfare.

    Quotes

    “Investments in research are vitally important to the future of our agricultural sector. By making sure our hardworking poultry farmers are using best practices and adopting innovative solutions, we’re not only strengthening our economy, we’re building a resilient industry that meets the needs of consumers, while protecting our environment for generations to come.”

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

    “This new injection of funding from AAFC will ensure continued innovation and excellence in research that benefits the entire Canadian poultry supply chain. Research will focus on three main areas – environment and climate change, economic growth, and sector resilience – looking for ways to reduce greenhouse gas emissions, find innovative approaches to disease management, and improve the overall strength of the poultry sector.”

    – Caroline Wilson, Executive Director of the Canadian Poultry Research Council

    Quick facts

    • The Canadian poultry industry contributed about $5.5 billion in farm cash receipts in 2021, with over 2,800 chicken producers, 1,200 egg producers, 513 turkey producers, and 232 hatching egg producers across the country.

    • The CPRC leads the industry in its national research endeavours and seeks to address national poultry and egg research priorities, driven by the National Research Strategy for Canada’s Poultry Sector.

    • The CPRC has delivered the 3 previous poultry clusters and is made up of five members: the Canadian Hatching Egg Producers, the Egg Farmers of Canada, the Turkey Farmers of Canada, the Chicken Farmers of Canada, and the Canadian Poultry and Egg Processors.

    • The Sustainable Canadian Agricultural Partnership (Sustainable CAP) is a $3.5-billion, 5-year agreement (2023 to 2028), between the federal, provincial and territorial governments to strengthen the competitiveness, innovation, and resiliency of the agriculture, agri‐food and agri‐based products sector.

    • The AgriScience Program, under the Sustainable CAP, aims to accelerate innovation by providing funding and support for pre-commercial science activities and research that benefits the agriculture and agri-food sector, and Canadians.

    • The AgriScience Program – Clusters Component supports projects intended to mobilize industry, government and academia through partnerships, and address priority national themes and horizontal issues.

    Associated links

    Contacts

    For media:

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

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

    MIL OSI Canada News –

    January 23, 2025
  • MIL-OSI Canada: Minister Hussen to make an announcement in support of small-scale financial institutions in developing countries

    Source: Government of Canada News

    The Honourable Ahmed Hussen, Minister of International Development—accompanied by President and CEO, Desjardins International Development (DID), Gerardo Almaguer, will make an important announcement related to improving the availability of financial products and services for micro, small and medium entrepreneurs in developing countries.

    October 15, 2024 – The Honourable Ahmed Hussen, Minister of International Development—accompanied by President and CEO, Desjardins International Development (DID), Gerardo Almaguer, will make an important announcement related to improving the availability of financial products and services for micro, small and medium entrepreneurs in developing countries.

    The announcement will be followed by a media availability.  

    Date: Wednesday, October 16, 2024
    Time: 
    10:30 am EDT
    Location: 
    Montreal, Quebec

    Notes:

    Media representatives who wish to attend the event must arrive before 10:15 am EDT.

    Media are asked to confirm their attendance by contacting media@international.gc.ca. The exact address will be shared following confirmation.

    MIL OSI Canada News –

    January 23, 2025
  • MIL-OSI Russia: IMF Staff Completes 2024 Article IV Consultation Mission to Chad

    Source: IMF – News in Russian

    October 15, 2024

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision.

    • After increasing to 4.9 percent in 2023, growth is expected to moderate this year, reflecting a slight decline in oil production and the impact of floods.
    • Following a decline in 2023, inflation is expected to increase significantly in 2024 on account of higher fuel and food prices before moderating over the medium term.
    • The authorities are encouraged to pursue ongoing efforts to enhance sustainability of public finances and increase their contribution to development objectives.
    • As the authorities are finalizing their National Development Plan for the next five years, the IMF staff team discussed with them a number of medium-term macroeconomic challenges Chad is facing. The team made recommendations aimed at increasing resilience against climate change, improving the business climate, strengthening governance, and reducing gender disparities.

    Washington, DC: An International Monetary Fund (IMF) team, led by Mr. Édouard Martin, Mission Chief for Chad, visited N’Djamena to hold discussions on the 2024 Article IV consultation from October 3–15, 2024. Mr. Vitaliy Kramarenko, Deputy Director of the IMF African department, joined the mission for policy discussions. The Article IV discussions will continue in the coming days.

    At the conclusion of the discussions, Mr. Martin issued the following statement:

    “Chad’s economic activity grew by 4.9 percent in 2023, driven by a rebound in agricultural production, an increase in public investment, and higher oil production. After declining in 2023 (to 4.2 percent from 8.3 percent at end-2022) owing to a slowdown in food prices, year-over-year inflation went back up to 8.7 percent at end-August 2024, reflecting a rebalancing in domestic fuel prices and a rebound in food prices during a particularly difficult lean season.

    “The overall fiscal balance deteriorated substantially in 2023—to -2.7 percent of non-oil GDP from +4.9 percent in 2022. Non-oil revenue increased steadily as a result of tax administration reforms while current expenditures remained elevated, reflecting in part spending pressures related to the arrival of refugees from Sudan and the large use of emergency spending procedures (Dépenses avant ordonnancement, DAOs).

    “The banking sector remains undercapitalized. At end-December 2023, the sector’s capital adequacy ratio was below the regulatory minimum, while non-performing loans amounted to 31.5 percent of total loans. The mission emphasized the need to promptly finalize and start implementing restructuring plans for the two systemic public banks.

    “Looking ahead, the outlook for 2024-25 remains broadly favorable but subject to significant risks. The economy is expected to decelerate this year owing to a slight decline in oil production and the impact of floods. Despite a further decline in oil production, growth would increase to 3.4 percent in 2025 owing to better agricultural crops and livestock activity. Reflecting substantial increases in food and fuel prices, inflation would increase to 8.8 percent year-over-year at end- 2024 before gradually declining over the medium term. Risks include a possible intensification of regional conflicts, large fluctuations in oil prices, and an increase in climate-change related events, such as the recent floods.

    “Despite a further decline in oil revenue, the overall fiscal balance would somewhat recover in 2024. Non-oil revenue would increase significantly, reflecting further tax administration reforms, the increase in domestic fuel prices, and the renewal of telecommunications licenses. Current spending would decline, reflecting the phasing out of one-off spending related to the political transition and the election and the progress in reducing the use of emergency spending procedures.

    “With oil revenue expected to further decline over the medium term, discussions focused on measures to further improve domestic non-oil revenue mobilization, including through digitalization, and contain current expenditure, including the wage bill and transfers to the energy sector. The mission also encouraged the authorities to ensure that budget allocations for social spending (e.g., health, education, women, and environment) are actually spent and to reform public procurement to increase the efficiency of public investment.

    “The authorities are finalizing their National Development Plan, which will articulate the policies and reforms the government intends to implement over  the next five years to meet its development objectives. In this context, the mission discussed the key medium-term macroeconomic challenges that Chad is facing. It stressed the importance of ensuring a sustainable and inclusive development, which will notably require mobilizing concessional financing and grants to finance investment in key areas and taking measures to promote the development of the private sector and the diversification of the economy. It also made recommendations aimed at increasing resilience against climate change, improving the business climate, strengthening governance, and reducing gender disparities.

    “The IMF team would like to thank the Chadian authorities and other counterparts for their hospitality, excellent cooperation, and candid and constructive discussions.”

    The mission met with Mr. Mahamat Idriss Déby Into, President of the Republic of Chad; Mr. Tahir Hamid Nguilin, Minister of State for Finance, Budget, Economy and Planning; Ms. Ndolenodji Alixe Naïmbaye, Minister of Hydrocarbons, Mines, and Geology; Mr. Patalet Kanabe Marcelin, Minister of Water and Energy]; Mr. Idriss Ahmat Idriss, National Director of the regional central bank (BEAC); and other senior officials, as well as representatives of the private sector, civil society and international development partners.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Julie Ziegler

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

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2024/10/15/pr-370-chad-imf-staff-completes-2024-article-iv-consultation-mission

    MIL OSI

    MIL OSI Russia News –

    January 23, 2025
  • MIL-OSI Security: Former Chief Executive Officer of Chicago Hospital Added to Federal Indictment Alleging Corruption and Embezzlement

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

    CHICAGO — An ongoing federal investigation into alleged corruption and embezzlement at a Chicago hospital has resulted in a conspiracy charge against the hospital’s former Chief Executive Officer.

    A 45-count, second superseding indictment accuses former CEO GEORGE MILLER, JR., 73, of Dallas, Texas, of conspiring with the hospital’s then-Chief Financial Officer, ANOSH AHMED, 40, of Houston, Texas, to corruptly steer vendor contracts and other hospital business to certain medical supply companies in exchange for cash from the companies’ owner, SAMEER SUHAIL, 47, of Chicago.  Ahmed, Suhail, and the hospital’s former Chief Transformation Officer, HEATHER BERGDAHL, 37, of Houston, Texas, were originally indicted earlier this year on fraud, embezzlement, and money laundering counts.  The charges accused them of causing the hospital to issue payments to purported vendor companies for goods and services that they knew had not been provided.  Many of the purported vendor companies were created by Suhail and Ahmed under various names to conceal their association with the fraudulent payments, the charges alleged.  Bergdahl allegedly opened bank accounts in the names of two legitimate hospital vendors and caused the hospital to deposit fraudulent payments into those accounts.

    The second superseding indictment, which was returned Thursday in U.S. District Court in Chicago, renews the prior charges against Ahmed, Suhail, and Bergdahl, adds Miller as a defendant, and includes new tax charges against Ahmed for allegedly underreporting income in his individual tax returns.  The newly returned indictment alleges that from 2018 to 2021, Suhail paid Miller and Ahmed a share of $19 million in payments that he received from the hospital, in return for Miller and Ahmed steering those contracts and business to him.  The payments to Miller and Ahmed were in addition to the millions of dollars in fraudulent payments charged in the prior indictment.

    Arraignments on the second superseding indictment have not yet been scheduled.

    The second superseding indictment was announced by Morris Pasqual, Acting United States Attorney for the Northern District of Illinois, Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI, Mario Pinto, Special Agent-in-Charge of the U.S. Department of Health and Human Services, Office of Inspector General, and Ramsey E. Covington, Acting Special Agent-in-Charge of IRS Criminal Investigation in Chicago.  The government is represented by Assistant U.S. Attorneys Sheri H. Mecklenburg and Kelly L. Guzman.

    The public is reminded that an indictment is not evidence of guilt.  The defendants are presumed innocent and entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.

    MIL Security OSI –

    January 23, 2025
  • MIL-OSI USA: Deadline Approaching in North Dakota for SBA Working Capital Loans Due to Severe Winter Storm and Straight-line Winds

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, today reminded North Dakota private nonprofit organizations of the Nov. 15, 2024, deadline to apply for an SBA federal disaster loan for economic injury caused by severe winter storm and straight-line winds that occurred Dec. 25‑27, 2023. Private nonprofits that provide essential services of a governmental nature are eligible for assistance.

    According to Sánchez, eligible private nonprofits of any size may apply for SBA Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disaster. “Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the private nonprofit suffered any property damage,” Sánchez said.

    These low-interest federal disaster loans are available in Barnes, Cass, Dickey, Grant, LaMoure, Logan, McIntosh, Ransom, Richland, Sargent, Steele, Stutsman and Traill counties.

    The interest rate is 3.25 percent with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

    Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.

    Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    ###

    About the U.S. Small Business Administration
    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit http://www.sba.gov.

    MIL OSI USA News –

    January 23, 2025
  • MIL-OSI: Five Star Bancorp Announces Third Quarter 2024 Earnings Release Date and Webcast

    Source: GlobeNewswire (MIL-OSI)

    RANCHO CORDOVA, Calif., Oct. 15, 2024 (GLOBE NEWSWIRE) — Five Star Bancorp (Nasdaq: FSBC) (“Five Star” or the “Company”), a holding company that operates through its wholly owned banking subsidiary, Five Star Bank (the “Bank”), expects to report its financial results for the quarter ended September 30, 2024, after the stock market closes on Monday, October 28, 2024.

    Management will host a live webcast for analysts and investors to review this information at 1:00 PM ET (10:00 AM PT) on October 29, 2024.

    The live webcast will be accessible from the “News & Events” section of the Company’s website under “Events” at https://investors.fivestarbank.com/news-events/events. Please pre-register for the event using this link. The webcast will be archived on the Company’s website for a period of 90 days.

    About Five Star Bancorp
    Five Star is a bank holding company headquartered in Rancho Cordova, California. Five Star operates through its wholly owned banking subsidiary, Five Star Bank. The Bank has eight branches in Northern California. For more information, visit https://www.fivestarbank.com.

    Investor Contact:
    Heather C. Luck, Chief Financial Officer
    Five Star Bancorp
    (916) 626-5008
    hluck@fivestarbank.com

    Media Contact:
    Shelley R. Wetton, Chief Marketing Officer
    Five Star Bancorp
    (916) 284-7827
    swetton@fivestarbank.com

    The MIL Network –

    January 23, 2025
  • MIL-OSI: ProCap Ushers in the Grand Opening of a New Business Lounge in China Hong Kong SAR

    Source: GlobeNewswire (MIL-OSI)

    Hong Kong, Oct. 15, 2024 (GLOBE NEWSWIRE) — On 9th October 2024, ProCap leaders from China, Japan, The Philippines, and South Korea graced the grand opening of ProCap’s new Hong Kong business lounge. The business lounge is located right in the heart of Tsim Sha Tsui district and marks a significant milestone in ProCap’s business expansion plans as the company is preparing to launch a strategic entry in the Mainland Chinese markets. The grand opening is a testament of ProCap’s commitment to serving our valued partners and business associates in the Pearl River Delta Region. Additionally, the new business lounge is a symbol of the company’s confidence in Hong Kong and the Greater China Region as the company continues to regard it as a key strategic focus market for expansion.

    Last Wednesday’s grand opening was the culmination of the hard work and dedication by ProCap’s management team and Hong Kong’s leaders as the company intends to capitalise on our presence in Hong Kong as a launching pad to realise the huge business potential in the Pearl River Delta Region. Specifically, the Pearl River Delta Economic Zone as a trading and logistics hub presents itself with unique opportunities for ProCap as the company seeks to make inroads into a bustling regional hub for trade and commerce. Additionally, the Pearl River Delta Economic Zone is also where the different economies of China, Hong Kong, and Macau converge, which gives rise to a dynamic and robust business environment; this is crucial and in-line with ProCap’s business ethos as the company seeks to grow continuously amidst an ever-changing fast paced regional backdrop.  

    At ProCap, we believe in constantly expanding our presence and network to better serve our growing customer base. With the new business lounge sited in Hong Kong, it will provide ProCap with access to a dynamic and vibrant region of Southern China while providing greater connectivity to our valued customers in the region. Additionally, the presence of the Hong Kong-Zhuhai-Macao Bridge will provide ProCap with further expansion and growth opportunities beyond Hong Kong. The company is aware of recent developments in China’s fiscal and monetary stimulus push and looks optimistically towards a better outlook for the domestic economic situation.

    ProCap would like to express our immense gratitude to all leaders and associates for attending the grand opening ceremony in Hong Kong. The company would also like to express our heartfelt thanks to our valued clients for their continuous support and trust placed in ProCap as your preferred partners for capital protection. ProCap will continue to grow as a company as we strive to be the world’s leading capital protection services provider by providing our clients with world class protection coverage.

    About Procap International

    ProCap International a technology-empowered, innovative financial services provider, is the pioneer of Capital Protection. The company is built on the basis of risk management in prediction games; and selected trading instruments on exchanges.

    By following the ProCap Formula, clients can get to enjoy stable returns daily by making the correct predictions; without the need to worry about making the wrong predictions and incurring any financial losses.

    As the industry transits through consolidation and technological disruptions, ProCap’s avant-garde operating model is poised to provide the most competitive and cost-effective insurance products tailored to our clients’ ever evolving needs. The amalgamation of ProCap, Clients and Gaming Operators seamlessly is an industry first with the company having tremendous growth potential to carve out a niche for itself with this revolutionary business model.

    Web: http://www.procap.insure

    The MIL Network –

    January 23, 2025
  • MIL-OSI Europe: Villers-Cotterêts Declaration (7 Oct. 2024)

    Source: Republic of France in English
    The Republic of France has issued the following statement:

    1. We, the Heads of State and Government of countries which have a shared relationship with the French language, meeting on 4 and 5 October 2024 for the 19th Francophonie Summit in the French Republic;

    2. Welcome the opening of this Summit at the Cité Internationale de la Langue Française, where in 1539 the Ordinance of Villers-Cotterêts was signed, for the first time making French the official language of France;

    3. Reiterate our commitment to the French language, a language of teaching and communication, development, transmission and sharing, of creation and opportunities, a language of negotiation in international forums, for our populations, particularly young people, in accordance with the Declaration on the French Language in the Linguistic Diversity of Francophonie, adopted at the 18th Summit in Djerba;

    4. Aware of the multi-faceted crises affecting the Francophone space, including armed conflict, situations of occupation and settlement, as well as terrorist acts, support the International Organisation of la Francophonie in its role as a key forum for dialogue, which is essential to strengthen the shared values of humanity, i.e. peace, sustainable development, democracy, the rule of law and human rights, pursuant to the Charter of the Francophonie, the Bamako Declaration (2000) and the Saint-Boniface Declaration (2006) and in compliance with the principles of the Universal Declaration of Human Rights and the Charter of the United Nations, international law and the United Nations Security Council resolutions;

    5. Condemn violations of international law and international humanitarian law;

    6. Remain committed to addressing the challenges of climate change, working to protect the environment, and supporting the work of the OIF through the 2023-2030 Francophonie Strategic Framework in order to encourage Francophone synergies and consultations prior to multilateral events on these issues, and highlight that the Agreement under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas beyond National Jurisdiction (BBNJ Agreement) must urgently enter into force and call for swift progress in negotiating the International Treaty against Plastic Pollution with a view to the UN Ocean Conference (UNOC 2025); remain committed to the challenge of climate finance and recall that no State or government should have to choose between fighting poverty and preserving the planet; and in that regard, welcome the organization by France of the Summit for a New Global Financing Pact in Paris in 2023;

    7. We therefore recall that climate financing is the cornerstone in the global effort to fight climate change and highlight, in that regard, the importance of the Loss and Damage Fund established at COP27 in Sharm-el-Sheikh, recognizing its role in addressing the negative impact of climate change; Welcome the support provided by the OIF through the training of climate negotiators, in achieving this objective;

    8. Recall our commitment to the role of civil society and non-governmental organizations, and support an active Conference of International Non-Governmental Organisations for the benefit of populations and Francophone institutions.

    9. Renew our commitment to promoting gender equality, in accordance with the Francophonie Strategy for the Promotion of Gender Equality, the Rights and the Empowerment of Women and Girls, adopted at the 17th Francophonie Summit in Yerevan;

    10. Believe that the future of our young people is a priority which requires us to continually work with them to foster peace and sustainable development in our societies, in line with the Francophonie values of solidarity, tolerance, justice and inclusiveness;

    11. Reiterate that the promotion of the diversity of languages and cultures, as well as the diversity of expression and creation of cultural and educational content within the framework of a pluralistic, knowledge-based society are Francophonie’s most precious assets;

    12. Urge all OIF countries as well as institutions and agencies of the Charter of the Francophonie to promote the spirit of solidarity and respect shown both at the 2023 Francophone Games in the Democratic Republic of the Congo and the Olympic and Paralympic Games in France in the summer of 2024, with a view to upcoming international sporting events, particularly the Francophone Games, to be hosted by Armenia in 2027;

    13. Building on the legacy of Francophonie institutions, including the 36th session of the Francophonie Ministerial Conference (FMC) in Monaco and the 18th Francophonie Summit in Djerba, having highlighted the importance of innovation in promoting science and the digital economy in order to reduce the digital divide, ensure high-quality education and better access to employment;

    Have decided to make the theme of the 19th Summit: “Create, innovate and do business in French”

    I. The French language, serving an education, training and employability continuum

    Considering that the French language remains the bedrock of our Organisation, while respecting linguistic diversity and promoting multilingualism;

    14. Reiterate our commitment to the teaching of French, and teaching in French, and welcome the key role of educators and school communities. Commit to working alongside the OIF to develop linguistic training and teaching, in order to significantly increase the number of trained educators to ensure high-quality education for all; to this end, encourage sharing of expertise and best practices among training institution networks, the implementation of shared programmes and mechanisms, including greater online resources for educators and educational officials in the Francophone space;

    15. Support the adaptation of academic, professional and technical Francophone training, including through work-based learning, apprenticeships and mentoring in French, in order to promote a spirit of creation, innovation and entrepreneurship for young people, in line with the necessary skills to make them employable and boost the economic development of OIF member countries;

    16. Highlight the importance of facilitating exchanges among young Francophones in training, volunteers, academics, researchers and entrepreneurs, particularly within the framework of cross-cutting mobility projects in the Francophone space; encourage, to that end, multi-stakeholder cooperation involving OIF member countries and Charter of the Francophonie institutions and agencies, with economic and civil society stakeholders;

    17. To better tackle pandemics, call for greater French-language training in the area of healthcare through digital tools and in this regard, welcome national and multilateral efforts, particularly within the World Health Organization (WHO) in Geneva, which this year will open its continuous training centre, the WHO Academy in Lyon, and the cooperation agreement signed between the OIF and WHO in 2021;

    18. Encourage Charter of the Francophonie institutions and agencies to strengthen their work for cultural diversity, in line with the Convention on the Protection and Promotion of the Diversity of Cultural Expressions, adopted by UNESCO in 2005, thus enabling greater visibility among the huge diversity of French-language productions;

    19. Recall that Francophone cultural and linguistic diversity is very important within the digital space, and encourage Francophonie to actively continue its contribution to global digital governance, in accordance with the 2022-2026 Strategy for Digital Francophonie, particularly the process linked to the World Summit on the Information Society (WSIS) in Geneva, the Global Digital Compact in New York and the 2025 Artificial Intelligence (AI) Action Summit in Paris.

    20. Recognize the urgent need to take action in the digital environment and urge Charter of the Francophonie institutions and agencies to implement solutions for accessibility, linguistic diversity and the discoverability of French-language cultural, educational and scientific content and French-language training of generative artificial intelligence; welcome the scale of digitized collections of Francophone documentation centres and new cooperation opportunities created by the Cité Internationale de la Langue Française in Villers-Cotterêts in these areas;

    21. Call for high-level dialogue and advocacy to continue in the area of culture, particularly with regard to protecting and promoting the diversity of cultural and linguistic expressions;

    22. Reiterate our commitment to the multilateral media outlet, TV5, and commit to promote and distribute it; in this regard, we will take every appropriate measure, using all distribution methods, to ensure our populations have the widest possible access to TV5’s channels and the TV5MondePlus digital platform, which showcase the cultural diversity of the Francophone space;

    23. Recalling UNESCO’s Recommendation on the Ethics of Artificial Intelligence, welcome the fact that advances in artificial intelligence can contribute to the fields of translation and interpreting, including within international bodies; and call for these technological developments to fully respect the essential role of French-speaking translators and interpreters;

    24. Highlight the determination of OIF member countries to maintain a reliable, free and safe information space, in accordance with the resolution on good governance adopted at the 44th Ministerial Conference of La Francophonie (CMF) in Yaoundé; declare our full support for the Information and Democracy Partnership and the need to promote media and information education; in this regard, we welcome the 1st High-Level Forum of members of the Network of French-speaking media regulatory authorities (REFRAM) and the major digital space platforms, the adoption of the Abidjan Declaration of 24 April 2024 aimed at strengthening dialogue between regulators and major online platforms in Africa and the Francophone space, as well as the signing of the voluntary commitment protocol, and in this regard, welcome the Villers-Cotterêts Call for an honest, trustworthy digital space in the Francophone world, launched at the opening of this 19th Francophonie Summit;

    II. Create, innovate and do business in the Francophone space

    Considering that success in Francophonie can only be achieved once the French language has been acquired;

    25. Highlight the essential role of compliance with the fundamental freedoms of creation, innovation and enterprise, in accordance with the Bamako Declaration;

    26. Together call on all Charter of the Francophonie institutions and agencies to encourage freedom of creation, in all the diversity of artistic expression, invite them to develop their work for cultural and creative industries, particularly through the development and improvement of vocational training in these sectors, which offer a wide range of employment opportunities;

    27. Recall that the future of artists and creators from all cultural sectors requires working in compliance with copyright and neighbouring rights, and we are committed to strengthening these legal and administrative mechanisms for the regular collection and payment of royalties, and to support the international distribution of works, including within the digital space;

    28. Welcome the work of the OIF for Francophone authors and express our commitment to the Francophonie literary awards, including the Prix des cinq continents, as well as the programmes to support broadcasting productions through the Images de la Francophonie and the Francophonie TV5Mondeplus Funds;

    29. Invite Charter of the Francophonie institutions and agencies in collaboration with civil society, to discuss the importance of Francophonie in sport, highlighting the social and economic opportunities it offers for young Francophones, as well as its positive impact on health and well-being;

    30. Welcome the meaningful results of the Francophonie economic and trade missions, as part of the Economic Strategy for La Francophonie 2020-2025, and reiterate our support for the involvement of women and young entrepreneurs in these missions; support partnerships with Francophone economic networks to back companies as they develop internationally;

    31. Encourage initiatives to promote Francophone entrepreneurship, particularly in sectors linked to climate change and sustainable tourism, and call for enhanced relations between companies and academic, vocational and technical training institutions, as well as Francophone standardization and intellectual property networks;

    32. Also encourage concerted Francophone efforts to facilitate access for OIF member countries and local authorities to climate and biodiversity finance, in support of innovation and entrepreneurship;

    33. Place special emphasis on actions to promote the empowerment of women and urge all OIF member countries to support the strengthening of the La Francophonie Avec Elles Fund, with regard to its importance for direct beneficiaries and positive impacts for local communities;

    34. Aware of the economic and cultural cooperation opportunities opened up by the French language, we are committed to promoting mobility via Francophonie programmes and movement within our space for nationals of our countries, entrepreneurs, artists and graduates who, for professional purposes, are required to travel regularly, in compliance with national visa legislation and regulations;

    35. Take note, in this regard, that the Parliamentary Assembly of the Francophonie (APF), in its declaration on citizen mobility in the Francophone space, recommends implementing measures to consolidate Francophonie as a more integrated space and to make better use of its social and economic potential;

    36. In the interests of all these commitments, encourage the institutions and agencies of the Charter of the Francophonie to continue diversifying their sources of finance, in addition to voluntary contributions from OIF member countries, in order to strengthen the implementation of their programmes, including through public-private partnerships and development banks.

    Source: Website of the Presidency of the Republic

    MIL OSI Europe News –

    January 23, 2025
  • MIL-OSI: StableMetal Disrupts Traditional Metals Market with Innovative Tokenized Assets

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 15, 2024 (GLOBE NEWSWIRE) — StableMetal, a trailblazing project on the ToneOpenNetwork, is ecstatic to announce the forthcoming launch of its innovative tokenized metals – AuS, CuS, and FeS – scheduled for early 2025. These tokens, backed by real-world physical assets, aim to revolutionize the commodities market by introducing stability, security, and accessibility to metal trading.

    Reshaping the Metals Trading Landscape with Tokenization

    Driven by its mission to transform the metal trading landscape, StableMetal has constructed a robust platform that leverages derivative tokens secured by NFTs. This ingenious approach empowers investors to participate in the tokenized metals market while ensuring transparency and liquidity. The STBL token, the lifeblood of the platform’s ecosystem, has already gained significant traction with a market cap of $6 million, while the combined capitalization of its upcoming tokenized metals approaches a staggering $2 billion.

    Expanding Reach: Upcoming Listings on Major Cryptocurrency Exchanges

    StableMetal is actively engaged in discussions with leading cryptocurrency exchanges, including MEXC, BitMart, and Bitvavo, for listing the STBL token. Acquiring the necessary funds will be the final step before securing these listings, which will play a pivotal role in enabling global access to STBL and its tokenized metal derivatives.

    The project has further ambitions to secure additional listings on prominent exchanges like Gate.io, KuCoin, and Bybit, solidifying its market presence and bolstering liquidity. “Our primary objective is to make STBL and our tokenized metals universally available, granting investors effortless access to metal-backed assets,” stated the StableMetal Team.

    Rewarding Early Supporters and Bolstering Growth

    To commemorate the launch of these novel tokenized metals, StableMetal is planning a unique airdrop catering to early investors and active users. This campaign will shower participants with exclusive tokens, presenting an exciting opportunity to become an integral part of the StableMetal community.

    Furthermore, StableMetal is gearing up for a funding round, prioritizing a decentralized token distribution strategy. “We are thrilled to welcome new investors who share our vision of building a transparent and highly liquid metal trading ecosystem,” commented Semion Bozbei, CEO of StableMetal.

    Seamless Integration and Continued Expansion

    While STBL currently lacks EVM compatibility, StableMetal is diligently developing bridge solutions to achieve cross-chain compatibility. This initiative will ultimately enhance accessibility and facilitate integration with other platforms.

    Join the StableMetal Revolution

    StableMetal extends an open invitation to metal enthusiasts, investors, and traders to join its journey as it redefines the future of metal trading. To learn more, explore their website or connect with them on their social media platforms.

    About Us

    Stable Metal is a ground-breaking platform that combines blockchain technology with real-world precious metals. Built on top of vast metal reserves, the platform’s native token, STBL, ushers in a new era of market stability for cryptocurrencies. Combining the stability of precious metals with the potential of blockchain technology on the TON network, this novel strategy gives investors a chance to partake in the conventional and digital asset markets at the same time.

    Contact

    Company: StableMetal
    Name: Semion Bozbei, CEO
    Email: mail@stablemetal.com
    Website: https://stablemetal.com/

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/867ad240-f580-42ea-94b6-4a62c03be312

    The MIL Network –

    January 23, 2025
  • MIL-OSI: Bybit’s World Series of Trading (WSOT) 2024 with DEX Integration is Now Open for Registration, Offering Over 10 Million USDT in Rewards

    Source: GlobeNewswire (MIL-OSI)

    WSOT 2024 partners with the world’s top crypto ecosystem players, offering traders access to exclusive content, Web3 engagement, and a chance for incredible prizes.

    DUBAI, United Arab Emirates, Oct. 15, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has officially opened registration for traders worldwide for the World Series of Trading (WSOT) 2024.

    Now in its fifth year, WSOT 2024 is bigger, better, more connected and more innovative than ever and offers participants the opportunity to compete for the largest prize pool to date: more than 10,000,000 USDT.

    Don’t Miss Out on a 100,000 USDT Airdrop Special Event on 9 Oct 2024!

    In a one-day special event, Bybit is offering participants the chance to win a share of 100,000 USDT in an airdrop. Simply register and join a squad to boost your rewards. With multiple subaccounts allowed, participants can significantly increase their chances of claiming more prizes!

    Partnering with the World’s Top Crypto Ecosystem Players

    For WSOT 2024, Bybit has established strong collaborations with Web3 builders, top crypto platforms, and Key Opinion Leaders (KOLs). This year, participants will stay connected to the crypto world like never before, gaining access to exclusive livestreams, special events, and in-depth content.

    These partnerships will offer real-time insight and expert opinions, allowing traders to stay ahead of the curve in decentralized finance (DeFi) and Web3 projects. Participants will have access to the minds behind the top projects in the space, learn from the most innovative crypto industry leaders, and network with a like-minded community.

    WSOT Goes DeFi with DEX integration

    This year’s edition introduces the integration of centralized exchanges (CEXs) and, for the first time, decentralized exchanges (DEXs) trading, connecting participants from both backgrounds. This feature also introduces the WSOT DEX Wave, a decentralized side campaign integrating Web3 voting and rewards.

    Through Bybit’s DEX Wave, traders can engage with over 1 million decentralized tokens, including memecoins, GameFi tokens, and DeFi projects, earning points by completing tasks and voting for their favorite Web3 projects. With a daily prize pool of 200,000 MNT for top scorers, the DEX Wave allows participants to compete for a whopping 1,000,000 MNT prize pool.

    Fair Competition with Tiered Structure

    WSOT 2024 is committed to fairness and features a tiered competition structure that divides traders into lightweight, middleweight, and heavyweight categories based on their account balance. This system balances the scales for newcomers and seasoned traders alike, ensuring a fair competition that prioritizes skill and methodology above all else.

    For the first time in the series, WSOT 2024 introduces the ROI Reset Card, enabling participants to reset their profit and loss (PnL) metrics if they fall into negative values. This new feature gives traders a fresh start and a confidence boost as they persevere through the competition’s highs and lows.

    For even more fairness and an edge in the competition, Bybit’s Unified Trading Account (UTA) will allow participants to use one main account and up to four subaccounts. This multi-account flexibility enables traders to maximize their shot at winning in both the Squad Showdown and individual rankings.

    More Than 10M USDT Prize Pool and Luxury Rewards

    WSOT 2024 will feature the biggest prize pool to date: a staggering 10 million USDT in rewards and luxury prizes, including a yacht, Rolex watches, and world trips.

    Whether part of a Squad or flying solo, traders can get a chance to claim their share of these incredible prize offerings.

    WSOT 2024 Registration

    To participate in WSOT 2024, traders must hold at least 500 USDT in their participating Bybit account. Registration is now open for WSOT 2024, with different windows for Squad Leaders and general participants:

    • Squad Leader registration is open until Oct. 9, 10 am UTC,
    • Standard registration runs until Oct. 10, 10 am UTC, with late registration available until Oct. 20, 10 am UTC.

    The competition kicks off on Oct. 10, 10 am UTC, and runs through until Oct. 31, 10 am UTC.

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 53 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

    To learn more about Bybit, please visit https://www.bybit.com.

    Contact:
    Belinda Goh
    Belinda.goh@bybit.com

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7e5a7b1d-27c1-485b-96c8-a2d21a0fb51f

    The MIL Network –

    January 23, 2025
  • MIL-OSI Canada: Government of Canada continues progress on greening operations and supporting clean electricity infrastructure

    Source: Government of Canada News (2)

    October 15, 2024 Calgary, Alberta Public Services and Procurement Canada The Government of Canada is taking further action on its Greening Government Strategy commitment to use 100 per cent clean electricity in federal buildings. This strategy supports green energy projects and reduces greenhouse gas emissions, leading Canada’s continued energy transition.

    October 15, 2024          Calgary, Alberta                         Public Services and Procurement Canada

    The Government of Canada is taking further action on its Greening Government Strategy commitment to use 100 per cent clean electricity in federal buildings. This strategy supports green energy projects and reduces greenhouse gas emissions, leading Canada’s continued energy transition.

    Today, on behalf the Honourable Jean-Yves Duclos, Minister of Public Services and Procurement and Quebec Lieutenant, George Chahal, Member of Parliament for Calgary Skyview, announced contracts totalling over $73 million, awarded to hep solar and South Head Switch Power, for the supply of Renewable Energy Certificates (RECs).  

    These contracts support the Government of Canada’s commitment to the goal of net-zero emissions by 2050. The announcement aligns with Public Services and Procurement Canada’s (PSPC) clean electricity initiative and Canada’s ongoing commitment to invest in renewable energy. These contracts will supply 100,600 RECs annually from new clean electricity solar facilities.

    This agreement will enable the Government of Canada to attribute its electricity consumption as being clean in regions where opportunities for new clean renewable sources are not yet available, while supporting the creation of new green energy facilities. The RECs will reduce up to 32,600 tonnes of Carbon Dioxide Equivalent (eCO2) for the Government of Canada’s real property operations, which is equivalent to the annual greenhouse gas (GHG) emissions of more than 9,980 gas-powered passenger vehicles.  

    Furthermore, these contracts will help promote Indigenous business capacity in the clean energy sector and contribute to Canada’s efforts to strengthen economic relationships with Indigenous entrepreneurs. South Head Energy is an Indigenous-owned business, and South Head Switch Power is joint venture with Switch Power, which is registered with the Indigenous Business Directory.

     

    “As a leader in clean energy, Canada is making significant progress toward a sustainable future with the announcement of over $73 million in Renewable Energy Certificates (RECs). This investment supports our commitment to powering federal buildings with 100% clean electricity, reducing greenhouse gas emissions all while boosting our economy. Together, with our Indigenous partners, we are not just envisioning a net-zero future by 2050; we are actively creating it, ensuring that environmental responsibility and economic growth go hand in hand.”

    George Chahal
    Member of Parliament of Calgary Skyview

    MIL OSI Canada News –

    January 23, 2025
  • MIL-OSI United Kingdom: UK-Switzerland Financial Dialogue 2024 Joint Statement

    Source: United Kingdom – Executive Government & Departments

    Joint Statement between HM Treasury and the State Secretariat for International Finance on the UK-Switzerland Financial Dialogue.

    Documents

    UK-Switzerland Financial Dialogue Joint Statement – October 2024

    MS Word Document, 35.5 KB

    This file may not be suitable for users of assistive technology.

    Request an accessible format.
    If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

    Details

    This is a joint statement between HM Treasury and the State Secretariat for International Finance following the UK-Switzerland Financial Dialogue, held on Tuesday 15 October 2024. The statement summarises what was discussed at the meeting and the key outcomes.

    Updates to this page

    Published 15 October 2024

    Sign up for emails or print this page

    MIL OSI United Kingdom –

    January 23, 2025
  • MIL-OSI Global: Who really holds the purse strings? Why it matters which partner decides where the money goes

    Source: The Conversation – UK – By Ran Gu, Lecturer in Economics, University of Essex

    Kmpzzz/Shutterstock

    In an era of increasing financial complexity, who really calls the shots when it comes to investing your household’s savings? This question has significant implications for financial health and overall wellbeing.

    As economists, we specifically wanted to understand how “bargaining power” is distributed between men and women in a mixed-sex household when it comes to finances. This bargaining power refers to the ability of one partner to influence decisions that affect the household – the partner with more bargaining power has a greater say.

    To investigate this, my research partners and I analysed household investment decisions in Australia, Germany and the US. Our recent research reveals a persistent gender gap in household investment decisions, with men often wielding greater influence, even when their female partners may be more risk-averse.

    This isn’t just a matter of who manages the online brokerage account – it has real consequences for families. In many households, partners have different levels of risk tolerance.

    In Australia, this was the case for 43% of households, increasing to 57% in Germany and 65% in the US. This suggests that disagreements over investment decisions are common.

    For example, a man might prefer high-risk, high-reward stocks, while his female partner prioritises safer, long-term investments. If the man dominates the decision-making, the family portfolio might be exposed to a level of risk the woman finds uncomfortable, potentially jeopardising their financial security.

    But how do we measure this “bargaining power” within households? We developed an approach that goes beyond simply asking couples who makes the decisions. Instead, we looked at actual investment choices and combined this with data on individual risk tolerances. This allowed us to estimate how much each partner’s preferences influenced the final investment decisions.

    Across all three countries, men tend to have more control over investment decisions than their female partners. In an average Australian household, the man’s bargaining power is 60%, compared to 40% for the woman.

    In the US and Germany, men hold even greater sway, with their bargaining power rising to 61% and 69% respectively. While men’s greater bargaining power could be justified if they were better traders, evidence suggests they tend to trade more frequently and underperform compared to women.

    This power imbalance stems from two main sources.

    The first of these is individual characteristics. In our study, male partners are often older, more likely to be employed, and have higher incomes – factors that tend to increase their influence in financial decision-making. These characteristics can give male partners a sense of authority and control over financial matters, leading to an unequal balance of power in investment decisions.

    Our study found that personality traits also play a part, with individuals who are less agreeable and less extroverted – typically more likely to be men – tending to have more bargaining power.

    And the second is traditional gender norms. Typically, men tend to have extra bargaining power – this can be due to deeply rooted societal expectations about them being the primary breadwinners and financial decision-makers. This effect is amplified when women also adhere to these norms.

    Of the two, we found that gender norms are a far more powerful force than individual characteristics in explaining the gender gap in bargaining power.

    Why this matters

    This gender gap in investment decision-making is closely linked to other household money matters, such as day-to-day spending and large purchases. Household investment and consumption decisions are highly correlated and usually made by the same person, with male partners often appearing to have the upper hand.

    This imbalance can have significant implications for women’s financial wellbeing. Being exposed to higher investment risk than they are comfortable with can leave female partners feeling vulnerable and undermine their sense of financial security.

    The gender patterns spill over into other financial decisions too.
    fizkes/Shutterstock

    Our research provides evidence that supports the idea that gender inequality is not just a public issue but one that exists in private spaces as well. By showing that men often hold more bargaining power in discussions around investments, it underscores the need for policies that address gender disparities at home, not just in the workplace.

    So, what can be done? Promoting gender equality in financial decision-making starts with open communication and recognising that both partners’ perspectives are valuable. Couples should discuss their financial goals, risk tolerance and investment strategies together, ensuring that both partners feel heard and understood.

    Beyond individual households, challenging traditional gender norms is a crucial step towards creating a more equitable financial future for everyone. This isn’t just about fairness; it’s about ensuring that families make sound financial decisions that reflect the needs and preferences of all members. By empowering women to take an active role in investment decisions, we can help to create a more secure and equitable financial future for families everywhere.

    Ran Gu receives funding from the British Academy, award reference RG1920101488, and the Keynes Fund at Cambridge. He is affiliated with the Institute for Fiscal Studies.

    – ref. Who really holds the purse strings? Why it matters which partner decides where the money goes – https://theconversation.com/who-really-holds-the-purse-strings-why-it-matters-which-partner-decides-where-the-money-goes-241089

    MIL OSI – Global Reports –

    January 23, 2025
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