NewzIntel.com

Category: Economy

  • MIL-OSI Asia-Pac: HKSAR Government and Ministry of Commerce sign Second Agreement Concerning Amendment to CEPA Agreement on Trade in Services (with photos/video)

    Source: Hong Kong Government special administrative region

         The Chief Executive, Mr John Lee, witnessed the signing of the Second Agreement Concerning Amendment to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) Agreement on Trade in Services (Amendment Agreement II) by the Financial Secretary, Mr Paul Chan, and Deputy China International Trade Representative of the Ministry of Commerce Ms Li Yongjie today (October 9).     “I would like to express my sincere gratitude to the Central Government for its care and support for the Hong Kong Special Administrative Region (HKSAR). I also thank the Ministry of Commerce and relevant authorities for actively working towards the HKSAR Government’s proposal of further opening up the Mainland market to Hong Kong in trade in services. The Amendment Agreement II introduces new liberalisation measures across different service sectors where Hong Kong enjoys competitive advantages, making it easier for Hong Kong service suppliers to establish enterprises and develop business on the Mainland, enabling more Hong Kong professionals to obtain qualifications to practise on the Mainland, allowing more of Hong Kong’s quality services to be provided to the Mainland market, and contributing to and serving the country’s development. The HKSAR Government will continue to encourage different sectors of the community to leverage the unique advantages of ‘one country, two systems’ and join hands with their counterparts on the Mainland to promote the competitiveness of the professional services sector, in order to inject new impetus to economic development and achieve high-quality development,” said Mr Lee.     The HKSAR Government and the Ministry of Commerce signed the Agreement on Trade in Services (Services Agreement) under the framework of CEPA in November 2015 to basically achieve liberalisation of trade in services between the Mainland and Hong Kong. The two sides signed an agreement in November 2019 to amend the Services Agreement and add new liberalisation measures that have been implemented since June 2020. To further enhance liberalisation and facilitate trade in services in response to the aspirations of the Hong Kong business community for greater participation in the development of the Mainland market, the two sides agreed to make further amendments to the Services Agreement and signed the new agreement today.     The Amendment Agreement II introduces new liberalisation measures across several service sectors where Hong Kong enjoys competitive advantages, such as financial services, construction and related engineering services, testing and certification, telecommunications, motion pictures, television and tourism services. The liberalisation measures take various forms, including removing or relaxing restrictions on equity shareholding and business scope in the establishment of enterprises; relaxing qualification requirements for Hong Kong professionals providing services; and easing restrictions on Hong Kong’s exports of services to the Mainland market. Most of the liberalisation measures apply to the whole Mainland, while some of them are designated for pilot implementation in the nine Pearl River Delta municipalities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Examples are as follows:(1) Construction and related engineering services: To allow Hong Kong general practice surveying enterprises to provide professional services in Guangdong Province through filing of records; and to allow Hong Kong engineering construction consultant enterprises that have completed filing of records to bid for consultancy services projects in joint venture in compliance with the laws in the nine Pearl River Delta municipalities in the GBA;(2) Motion pictures: To remove the restriction on investment in enterprises engaging in film production by Hong Kong service suppliers; and to allow enterprises established by Hong Kong service suppliers and approved by the relevant Mainland authorities to operate distribution of imported buy-out Hong Kong motion pictures;(3) Television: To remove the quantitative restriction on Hong Kong people participating as principal creative personnel in online television dramas; and to allow imported dramas produced in Hong Kong to be broadcast during prime time in television stations on the Mainland after obtaining approval from the National Radio and Television Administration;(4) Tourism services: To optimise the implementation of the 144-hour visa-exemption policy for foreign group tours entering Guangdong from Hong Kong through increasing the number of inbound control points and expanding the stay areas to the whole of Guangdong Province, and to provide facilitation for Mainland travel agents when receiving group tours at West Kowloon Station of the High Speed Rail; and to support cruise companies to arrange international cruise itineraries involving port-of-call in the Mainland cruise ports in accordance with the laws. In respect of Mainland visitors participating in such cruise itineraries, they can travel to Hong Kong in transit to join all sorts of cruise itineraries, by presenting their passports and confirmation documents of the relevant cruise itineraries; and(5) Financial services: To remove the asset requirement of not less than US$2 billion as at the end of the most recent year for Hong Kong financial institutions investing in shares of insurance companies; to remove the restriction prohibiting foreign bank branches established by Hong Kong service suppliers from conducting bank cards services; to consider extending the scope of eligible products under the mutual market access programme by including REITs (Real Estate Investment Trusts); to continuously promote and enhance the Cross-boundary Wealth Management Connect Pilot Scheme and the Mainland-Hong Kong Mutual Recognition of Funds scheme; and to continuously promote the cross listing arrangement of the Mainland and Hong Kong ETF (open-ended index-tracking exchange-traded funds) as well as enhance Southbound Trading and Northbound Trading under Bond Connect.     In addition, the Amendment Agreement II brings institutional innovation and collaboration enhancement, including:(1) Addition of “allowing Hong Kong-invested enterprises to adopt Hong Kong law” and “allowing Hong Kong-invested enterprises to choose for arbitration to be seated in Hong Kong” as facilitation measures for Hong Kong investors, supporting Hong Kong-invested enterprises registered in the pilot municipalities of the GBA to adopt Hong Kong law or Macao law as the applicable law in their contracts; as well as supporting Hong Kong-invested enterprises registered in the nine Pearl River Delta municipalities in the GBA to choose Hong Kong or Macao as the seat of arbitration. The measures provide flexibility and convenience for Hong Kong enterprises, facilitating their investment and business development on the Mainland;(2) Addition of commitments regarding domestic regulation to ensure transparency, predictability and efficiency of regulations on trade in services, so as to align with high-standard international economic and trade rules, cutting red tape and lowering trade costs when enterprises supply their services in a market to facilitate trade in services; and(3) Removal of the period requirement on Hong Kong service suppliers to engage in substantive business operations in Hong Kong for three years in most service sectors, allowing Hong Kong start-ups to enjoy the preferential treatment under CEPA in a shorter time and attracting enterprises and talent from around the world to establish a presence in Hong Kong and explore the Mainland market, thus increasing local employment, promoting Hong Kong’s economic development and giving full play to Hong Kong’s roles as a “super connector” and “super value-adder”.     The Amendment Agreement II will be implemented on March 1, 2025. Details and the latest information on CEPA are available on the Trade and Industry Department website at http://www.tid.gov.hk/english/cepa/index.html.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Remarks by FS at media session after Signing Ceremony of Second Agreement Concerning Amendment to CEPA Agreement on Trade in Services (with photo/video)

    Source: Hong Kong Government special administrative region

         Following are the remarks by the Financial Secretary, Mr Paul Chan, at a media session after the Signing Ceremony of the Second Agreement Concerning Amendment to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) Agreement on Trade in Services today (October 9):
     
    Reporter: How would you quantify the impact of this amendment on Hong Kong’s economy, and how should Hong Kongers grasp this opportunity? And secondly, why is film included in this round of amendments? Can you cite examples of how the film industry can benefit from the liberalised measures? Thank you very much.
     
    Financial Secretary: The further liberalisation measures under the CEPA Amendment Agreement will enable Hong Kong firms and professional sectors to go into the Mainland market a lot easier. With the reduced threshold, reduced qualification requirements, and expanded scope of liberalisation, depending on specific sectors, the progress will be different, but I am sure for the professional sectors, people are very keen to expand their foothold into the Mainland by using the Greater Bay Area as the starting point. This will create a very positive impact on Hong Kong. As to the specific examples, in the Amendment Agreement, certain industries will be directly benefitting from it, including the testing and certification sector, telecommunications, films, television, financial services and tourism. We will be communicating with the different sectors and working with the different stakeholders to move as fast as possible to work out the various implementation details, so that businesses and professionals in Hong Kong would find it more convenient to expand into the Mainland market. Thank you.
     
    (Please also refer to the Chinese portion of the remarks.)   

    MIL OSI Asia Pacific News –

  • MIL-OSI: Xypher.io’s Comprehensive Crypto Alert System to Empower Traders with Real-Time Insights

    Source: GlobeNewswire (MIL-OSI)

    MIDDLETOWN, Del., Oct. 09, 2024 (GLOBE NEWSWIRE) — Xypher.io, a leading innovator in cryptocurrency trading tools and advanced alert systems designed to help traders and investors stay ahead in the dynamic world of digital assets. The Xypher.io platform provides a comprehensive suite of alerts, including DeFi Alerts for monitoring wallet and coin activities, and Volume Alerts to track unusual market activity and price movements in real-time.

    DeFi Alerts: Tracking Wallets and Coin Movements

    • Monitor key wallet addresses and follow significant transactions.
    • Receive notifications of major token movements, swaps, deposits, withdrawals, mints, and more.
    • Track whale transactions, monitor liquidity pool movements, and keep tabs on major staking activities.
    • Empower traders to act decisively with timely information.

    Volume Alerts: Gaining Insight into Market Momentum

    • Volume is a key indicator of market interest and momentum.
    • Receive notifications of significant spikes in trading volume.
    • Gain deeper insights into market trends with volume alerts that often signal potential price movements.
    • Identify emerging opportunities and receive timely updates on price changes triggered by high-volume activities.
    • Make informed decisions to capitalize on price rallies or mitigate risk during downturns.

    “Xypher.io was created to provide traders with the critical data they need, exactly when they need it,” said Carlos Guadamuz, Founder of Xypher.io. “Our alert system is designed to deliver actionable insights, whether you’re monitoring DeFi wallets or watching for sudden changes in market volume. We’re empowering traders to be proactive rather than reactive.”

    Receive Alerts Where You Need Them

    Xypher.io allows users to receive real-time alerts through their preferred communication channels, including Telegram, Discord, and Slack. With customizable filtering options, users can tailor their alerts to match their specific interests and trading strategies. Whether you need updates on whale wallet activities, changes in DeFi liquidity, or high-volume trading events, Xypher.io ensures you receive the right information at the right time.

    Use Cases for Xypher.io’s Alerts

    • Day Traders: Benefit from real-time alerts on wallet activities, volume spikes, and price changes, allowing for quick and informed decision-making.
    • DeFi Investors: Stay updated on key wallet transactions, liquidity pool shifts, and major token movements to anticipate market trends and opportunities.
    • Volume Traders: Utilize volume alerts to identify unusual trading activity, helping to pinpoint potential market manipulation or price trends before they fully unfold.

    For more information about Xypher.io and its suite of alert tools visit xypher.io

    Contact:
    Hana Rita
    hana@xypher.io

    Disclaimer: This content is provided by Xypher. 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.

    The MIL Network –

  • MIL-OSI: Marex Agrees Terms to Acquire UK FX Specialist Hamilton Court Group

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Oct. 09, 2024 (GLOBE NEWSWIRE) — Marex Group plc (‘Marex’ or the ‘Group’; NASDAQ: MRX), the diversified global financial services platform, today announces that it has agreed terms to acquire Hamilton Court Group which will expand the foreign exchange (FX) services it offers clients, consistent with its strategy to bring new clients and new capabilities onto its platform and diversify its earnings.

    Headquartered in London, Hamilton Court Group offers a full suite of FX products, ranging from bespoke complex FX options and derivative structures to more ‘vanilla’ products such as forwards, spots and swaps. Its clients are primarily mid-sized UK and European corporates and it has about 170 employees located in London, Milan, Madrid, and Toronto.

    The acquisition of Hamilton Court Group, which is subject to contract and regulatory approval, would be complementary to Marex’s existing FX operations.

    Ian Lowitt, CEO of Marex, commented:

    “This agreement supports our strategy to bring new clients onto our platform and is in line with our goal to add both clients and capabilities, as we continue to diversify our business to ensure we can grow through various market conditions.”

    Tony Keterman, CEO of Hamilton Court Group, said:

    “Joining Marex will give us access to a larger balance sheet and a growing global footprint, both of which will support our own continued expansion. Our clients will benefit from this support as well as being able to access the broader range of products and services Marex can offer. We are excited to be joining a like-minded, ambitious firm where we can flourish.”

    About Marex:
    Marex Group plc (NASDAQ: MRX) is a diversified global financial services platform providing essential liquidity, market access and infrastructure services to clients across energy, commodities and financial markets. Enabling access to 58 exchanges, the Group provides coverage across four core services: Clearing, Agency and Execution, Market Making and Hedging, and Investment Solutions. It has a leading franchise in many major metals, energy and agricultural products, serving over 4,000 active clients and executing around 129 million trades and clearing 856 million contracts in 2023. The Group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds, and asset managers. Headquartered in London with more than 35 offices worldwide, the Group has over 2,000 employees across Europe, Asia and the Americas. For more information visit http://www.marex.com.

    The MIL Network –

  • MIL-OSI: Calvetti Ferguson Adds Assurance Partner to Growing Nashville Office

    Source: GlobeNewswire (MIL-OSI)

    NASHVILLE, Tenn., Oct. 09, 2024 (GLOBE NEWSWIRE) — Calvetti Ferguson, a Top 200 accounting firm, welcomes its newest partner, Johanna Young, to its assurance practice in Nashville, propelling the service line further in the Tennessee market and continuing to add to the firm’s commitment to delivering exceptional client service.

    In her previous role at a Big Four firm, Johanna led a team specializing in financial services, serving asset managers and funds with a specific focus on private equity, venture capital, and hedge funds. With over a decade of assurance experience spanning the US and the UK, she has also served growth-stage businesses by helping them navigate strategic business decisions and future-proof their finance functions.

    Her diverse background equips her to meet the needs of Calvetti Ferguson’s growing client portfolio, focusing on private equity, venture capital funds, and their companies across various sectors. In addition to Johanna’s professional experience, she is active in networks and initiatives that foster community, agency, and careers for women investors, financial professionals, and entrepreneurs.

    Johanna joins top management in assurance, risk advisory, and tax in the Nashville office. Her presence marks a significant step for the firm as it continues to grow in Tennessee and the city’s fund and financial services sectors.

    “The tremendous growth in Nashville has continued to reinforce the city as a place where collaboration and community are at the forefront,” says Johanna Young, assurance partner at Calvetti Ferguson. “I’m excited to join Calvetti Ferguson, where fostering strong relationships and delivering the highest value to our clients is at the core of what we do as we address their evolving strategic and operational needs.”

    “As we continue expanding our comprehensive service offerings in Nashville and the financial services sector with exceptional talent like Johanna, we also enrich our firm’s overall culture,” says Nicholas McClay, Calvetti Ferguson Nashville office managing partner. “Johanna brings a wealth of expertise to our market, which will show in her dedication to clients as she leads the assurance practice, all while maintaining a strong focus on people, teams, and community.”

    Calvetti Ferguson provides financial statement audits, employee benefit plan audits, and SOC reporting within its assurance service line. Johanna will be instrumental in delivering clients high-quality financial statement audits and assurance solutions.

    The firm’s Nashville office is progressing rapidly following its official move to the One22One building in the Gulch last week. The firm is eager to leverage Johanna’s expertise to enhance audit capabilities and drive growth for its assurance clients and the community, solidifying its position as a leading accounting and advisory firm.

    About Calvetti Ferguson

    Calvetti Ferguson is a nationally recognized CPA and advisory firm serving companies across the United States. The firm provides assurance, tax, advisory, accounting, risk advisory, and technology advisory services to middle-market businesses, family offices, and private equity firms.

    Media contact:
    Emily Martin
    VP of Marketing
    emartin@calvettiferguson.com
    (713) 726-5723

    The MIL Network –

  • MIL-OSI: Asset Entities Signs Pivotal Agreement to Build What Could Become The World’s Largest Digital Fitness Community

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Oct. 09, 2024 (GLOBE NEWSWIRE) — Asset Entities Inc. (“Asset Entities” or “the Company”) (NASDAQ: ASST), a provider of digital marketing and content delivery services across Discord and other social media platforms, and a Ternary Payment Platform company, announced today that well-known social media influencer, American fitness model, training specialist, actor, and entrepreneur, Scott Mathison, has selected Asset Entities to Design, Develop, and Manage his digital fitness community server on the Discord social community platform and has entered into a new client Agreement with the Company.

    Considered one of today’s most followed fitness social media influencers with over 1.5 million followers on Instagram and 2.1 million followers on TikTok, Asset Entities will be working with Scott Mathison to build a subscription based digital fitness community to provide education for those trying to reach their fitness goals. The community will have many features including, workout routines, meal prep plans, workout challenges, and other resources.

    The Company is extremely excited that Scott Mathison made the decision to select Asset Entities to Design, Develop, and Manage his server on the Discord social community platform. The Asset Entities team is excited to be embarking on this journey with Scott. 

    Asset Entities Chief Executive Officer, Arshia Sarkhani, commented, “One of our many passions in this unique space is the future of fan engagement via Discord, and developing and helping communities grow. We are thrilled to be working with Scott Mathison. His passion to pursue his dream and never giving up, is the hallmark of a role model one can be immensely proud of. We look forward to working with Scott on his digital fitness community and to sharing that message on Discord and other social media.” 

    To visit Scott Mathison’s social media and fitness pages, go to:

    https://www.instagram.com/scott_mathison_/?hl=en

    https://www.tiktok.com/@scott_mathison_?lang=en

    To learn about Asset Entities, please go to http://www.assetentities.com. To learn about the Ternary payment platform, please go to http://www.ternarydev.com. To learn about Asset Entities 360 suite of discord services, go to  https://www.ae360ddm.com/ and https://discord.gg/ae360ddm.  

    About Asset Entities, Inc.

    Asset Entities Inc. is a technology company providing social media marketing, management, and content delivery across Discord, TikTok, Instagram, X (formerly Twitter), YouTube, and other social media platforms. Asset Entities is believed to be the first publicly traded Company based on the Discord platform, where it hosts some of Discord’s largest social community-based education and entertainment servers. The Company’s AE.360.DDM suite of services is believed to be the first of its kind for the Design, Development, and Management of Discord community servers. Asset Entities’ initial AE.360.DDM customers have included businesses and celebrities. The Company also has its Ternary payment platform that is a Stripe-verified partner and CRM for Discord communities. The Company’s Social Influencer Network (SiN) service offers white-label marketing, content creation, content management, TikTok promotions, and TikTok consulting to clients in all industries and markets. The Company’s SiN influencers can increase the social media reach of client Discord servers and drives traffic to their businesses. Learn more at assetentities.com, and follow the Company on X at $ASST and @assetentities.

    Important Cautions Regarding Forward-Looking Statements

    This press release contains forward-looking statements. In addition, from time to time, representatives of the Company may make forward-looking statements orally or in writing. These forward-looking statements are based on expectations and projections about future events, which are derived from the information currently available to the Company. Such forward-looking statements relate to future events or the Company’s future performance, including its financial performance and projections, growth in revenue and earnings, and business prospects and opportunities. Forward-looking statements can be identified by those statements that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors including those that are described in the section titled “Risk Factors” in the Company’s periodic reports which are filed with the Securities and Exchange Commission. These and other factors may cause the Company’s actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

    Company Contacts:

    Arshia Sarkhani, President and Chief Executive Officer
    Michael Gaubert, Executive Chairman
    Asset Entities Inc.
    Tel +1 (214) 459-3117 
    Email Contact

    Investor Contact:

    Skyline Corporate Communications Group, LLC
    Scott Powell, President
    1177 Avenue of the Americas, 5th Floor
    New York, NY 10036
    Office: (646) 893-5835
    Email: info@skylineccg.com

    The MIL Network –

  • MIL-OSI: Dayforce to Announce Third Quarter 2024 Financial Results on October 30th and Participate in Upcoming Investor Events and Conferences

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS and TORONTO, Oct. 09, 2024 (GLOBE NEWSWIRE) — Dayforce, Inc. (NYSE:DAY) (TSX:DAY), a global human capital management (HCM) leader that makes work life better, today announced the date for the release of its third quarter 2024 earnings and its participation in upcoming investor conferences.

    Third Quarter 2024 Earnings Date

    Dayforce will release third quarter 2024 financial results before the open of regular market trading on Wednesday, October 30, 2024.

    The company will host a live webcast and conference call at 8:00 a.m. Eastern Time on October 30, 2024 to discuss the aforementioned financial results. Those wishing to participate via the webcast should access the call through the Investor Relations section of the Dayforce website. Those wishing to participate via the telephone may dial in at 877-497-9071 (USA) or 201-689-8727 (International). The webcast replay will be available through the Investor Relations section of the Dayforce website.

    Upcoming Investor Events and Conferences

    Members of Dayforce management will participate in the following investor events and conferences:

    • Dayforce’s inaugural Investor Day at the Wynn Las Vegas in Las Vegas, Nevada on Tuesday, November 12, 2024. David Ossip, Chair and Chief Executive Officer, Jeremy Johnson, Chief Financial Officer, and other key members of the management team will present that day.
    • The UBS Global Technology Conference at the Phoenician Hotel in Scottsdale, Arizona on Tuesday, December 3, 2024. Jeremy Johnson will present that day.
    • The TD Cowen Human Capital Management Summit held virtually on Monday, December 9, 2024. David Ossip will present that day.

    A live webcast and replay of the presentations will be available through the Investor Relations section of the Dayforce website. Management will also be available for one-on-one and small group meetings with investors.

    About Dayforce

    Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, payroll, talent, workforce management, and benefits equips Dayforce customers to unlock their full workforce potential and operate with confidence. To learn how Dayforce helps create quantifiable value for organizations of all sizes and industries, visit dayforce.com.

    Source: Dayforce, Inc.

    For more information, contact:

    David Niederman
    Investor Relations
    1-844-829-9499
    investors@dayforce.com

    The MIL Network –

  • MIL-OSI: Byrna Technologies Reports Fiscal Third Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    Q3 Revenue Hits New Record of $20.9 Million, a 194% Increase from Q3 2023

    Gross Margin Improves to 62.4% as Manufacturing Scales

    ANDOVER, Mass., Oct. 09, 2024 (GLOBE NEWSWIRE) — Byrna Technologies Inc. (“Byrna” or the “Company”) (Nasdaq: BYRN), a personal defense technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today reported select financial results for its fiscal third quarter (“Q3 2024”) ended August 31, 2024.

    Fiscal Third Quarter 2024 and Recent Operational Highlights

    • Continued to generate a highly accretive return on ad spend (ROAS) of 5.0X through the celebrity endorsement program, even as Byrna’s advertising spend grew from $800,000 per month in Q2 to $1.0 million per month in Q3, fueling record quarterly results and strong year-over-year growth.
    • Added Mike Huckabee, former Governor of Arkansas, to its roster of high-profile celebrity endorsers, and has signed agreements with two additional prominent celebrities, which will kick-off in December.
    • Secured earned media placements to date on over two dozen news programs, including ABC, Fox, Newsmax, NewsNation, and numerous other local radio and television news shows. Total media coverage continues to grow, with the celebrity endorsement program playing a key role in driving this earned media for Byrna, helping build significant brand awareness and contributing to the continued normalization of the less-lethal industry.
    • Reached national account status with Bass Pro Shops and Cabela’s, expanding Byrna’s presence from 42 stores to 137 stores nationwide and demonstrating the growing awareness around Byrna launchers.
    • Expanded Byrna’s sales reach into Mexico following a successful partnership with the Secretaría de Trabajo y Previsión Social (STPS) of Mexico to create a federally certified training program allowing civilians to legally carry the Byrna.
    • Secured an initial order with the Ministry of the Interior of Uruguay for 400 Byrna launchers and over 100,000 rounds of less-lethal ammunition for the Uruguayan National Police.
    • Deployed 1,000 launchers across airports in Argentina with the Policía de Seguridad Aeroportuaria.
    • Transferred its 51% stake in Byrna LATAM S.A. to its joint venture partner, enabling Byrna to earn royalty income and recognize revenue directly from sales to Byrna LATAM. Additionally, by selling its stake, the Company no longer needs to report Byrna LATAM’s losses in its financial statements.
    • Repurchased $3.0 million of stock at an average price of $10.25 as part of a new $10 million stock repurchase program commenced in August.

    Fiscal Third Quarter 2024 Financial Results
    Results compare Q3 2024 to the 2023 fiscal third quarter ended August 31, 2023 unless otherwise indicated.

    Net revenue for Q3 2024 was $20.9 million, compared to $7.1 million in the fiscal third quarter of 2023 (“Q3 2023”). The 194% year-over-year increase is primarily due to the transformational shift in Byrna’s advertising strategy implemented in September of last year and the resulting normalization of Byrna and the less-lethal space generally. For the first nine months of 2024, revenue was $57.8 million, compared to $27.0 million in the prior year period, an increase of 114% year-over-year.

    Gross profit for Q3 2024 was $13.0 million (62.4% of net revenue), up from $3.2 million (44.6% of net revenue) in Q3 2023. The increase in gross profit was driven by the increase in the proportion of sales made through the high-margin direct-to-consumer (DTC) channels (Byrna.com and Amazon.com), a reduction in component costs driven through an intensive cost reduction effort focused on “design for manufacturability” spearheaded by Byrna’s engineering team, and the economies of scale resulting from increased production volumes. For the first nine months of 2024, gross margin was 60.9%, compared to 54.1% for the same period in 2023.

    Operating expenses for Q3 2024 were $12.2 million, compared to $7.3 million for Q3 2023, an increase of 67%. The increase in operating expenses was driven by an increase in variable selling costs (such as freight and third-party processing fees), increased marketing spend tied to the Company’s celebrity endorsement strategy, and higher payroll expenses in marketing and engineering as the Company has added personnel to handle the higher sales and production volumes. For the first nine months of 2024, operating expenses were $32.6 million compared to $21.5 million in 2023, a 52% increase year-over-year.

    Net income for Q3 2024 was $1.0 million compared to a loss of $(4.1) million for Q3 2023, a $5.1 million improvement. For the first nine months of 2024, net income was $3.1, compared to a loss of $(7.4) million in 2023, a $10.5 million year-over-year improvement.

    Adjusted EBITDA1, a non-GAAP metric reconciled below, for Q3 2024 totaled $1.9 million, compared to $(2.4) million in Q3 2023. For the first nine months of 2024, adjusted EBITDA totaled $6.3 million, an $8.5 million improvement over the loss of $(2.2) million in the prior year period, ahead of the traditionally strong fourth quarter.

    Cash and cash equivalents at August 31, 2024 totaled $20.1 million compared to $20.5 million at November 30, 2023. Inventory at August 31, 2024 totaled $19.8 million compared to $13.9 million at November 30, 2023. The Company has no current or long-term debt.

    Management Commentary
    Byrna CEO Bryan Ganz stated: “In the third quarter, we generated $20.9 million in revenue while also improving our gross margin and operating leverage. This performance underscores the continued impact of our celebrity influencer strategy, which has driven increasing brand recognition and contributed to the growing normalization of our product category.

    “Since launching the celebrity advertising program in Q4 of last year, we’ve consistently maintained a highly accretive 5.0X ROAS, driving profitable growth throughout the year. Today, over ten celebrities are actively evangelizing Byrna’s less-lethal mission, helping to normalize less-lethal as a legitimate alternative to lethal force, build brand awareness, and drive both consumer and institutional demand. The continued success of this program is evident in our September sales, which came in at $8.3 million—averaging just over $275,000 in sales per day during what is traditionally our weakest month of the seasonally strong fourth quarter.

    “As we continue to post record sales, we remain focused on scaling up production to meet this increasing demand. In Q3, production totaled over 55,000 units as we build inventory to support current sales growth, the anticipated holiday season surge, and the upcoming launch of the Compact Launcher.

    “To further increase capacity, we are introducing a partial second shift in the fourth fiscal quarter of 2024, with plans to operate a full second shift by the end of the first quarter next year. Additionally, we are adding a third production line dedicated to the Byrna Compact Launcher. We are also preparing to scale domestic ammunition production, enabling us to meet growing demand and position Byrna to support future product lines. This will also allow us to offer a full range of ammunition that is Made in America. These measures will ensure we can keep up with current launcher demand while building inventory for the Compact Launcher, slated for release in Summer 2025.

    “With this continued growth, Byrna is now a self-sustaining, profitable, and cash-flowing enterprise. As we scale, we are strategically investing in initiatives that will drive growth while we continue to focus on returning value to shareholders. In the third quarter, we authorized a $10 million buyback, and, to date, have repurchased $3 million of shares at an average price of $10.25, demonstrating our confidence in Byrna’s long-term strategy and growth potential.

    “In addition to expanding production, we are also investing in our retail footprint. We have recently signed leases for Byrna-owned stores in key markets, including Nashville, Tennessee; Ft. Wayne, Indiana; Scottsdale, Arizona; and Salem, New Hampshire. We are also finalizing a lease for a proposed Pasadena, California location. These new stores, which build on the successful proof-of-concept from our Las Vegas location—launched two years ago and running at a $1 million annual revenue rate with a 60%+ gross profit margin—will provide valuable market data for future expansion. Each store will feature a shooting range for customers to experience our products firsthand, supporting both revenue growth and brand awareness, complementing our continued success in DTC sales.

    “Internationally, we are seeing strong momentum in Latin America, with a string of recent law enforcement deployments reinforcing our optimism for the region’s growth potential. Our strategic divestment of our stake in Byrna LATAM allows us to fully recognize revenue from future sales to Byrna LATAM and earn a royalty on every launcher produced in Argentina. Additionally, we no longer have to report Byrna LATAM’s losses in its financial statements, improving our reported income and enabling us to focus on our core markets.

    “We are confident that our growth will continue into 2025 and beyond, driven by increased advertising, which will result in both direct and indirect sales as less-lethal weapons become normalized, alongside new retail stores, mobile trailers, and the launch of our anticipated Compact Launcher. The Compact Launcher, set for release in mid-2025, will strengthen our product lineup by enhancing accessibility and ease of use, allowing for broader market penetration and increased consumer adoption. As we scale and expand production, we expect further improvements in manufacturing efficiency, which will enhance both gross and net margins. With these initiatives, Byrna is positioned for sustained growth and success well into 2025 and 2026.”

    Conference Call
    The Company’s management will host a conference call today, October 9, 2024, at 9:00 a.m. Eastern time (6:00 a.m. Pacific time) to discuss these results, followed by a question-and-answer period.

    Toll-Free Dial-In: 877-709-8150
    International Dial-In: +1 201-689-8354
    Confirmation: 13748618

    Please call the conference telephone number 5-10 minutes prior to the start time of the conference call. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group at 949-574-3860.

    The conference call will be broadcast live and available for replay here and via the Investor Relations section of Byrna’s website.

    About Byrna Technologies Inc.
    Byrna is a technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions. For more information on the Company, please visit the corporate website here or the Company’s investor relations site here. The Company is the manufacturer of the Byrna® SD personal security device, a state-of-the-art handheld CO2 powered launcher designed to provide a less-lethal alternative to a firearm for the consumer, private security, and law enforcement markets. To purchase Byrna products, visit the Company’s e-commerce store.

    Forward-Looking Statements
    This news release contains “forward-looking statements” within the meaning of the securities laws. All statements contained in this news release, other than statements of current and historical fact, are forward-looking. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “expects,” “intends,” “anticipates,” and “believes” and statements that certain actions, events or results “may,” “could,” “would,” “should,” “might,” “occur,” or “be achieved,” or “will be taken.” Forward-looking statements include descriptions of currently occurring matters which may continue in the future. Forward-looking statements in this news release include but are not limited to our statements related to our expected sales during the fourth quarter, our ability to scale production, add shifts and production lines, the expected timing for the launch of the Compact Launcher, Byrna’s ability to remain self-sustaining, profitable and cash flow positive, Byrna’s ability to open new retail locations and realize revenue growth from them, continued momentum in the Latin American market, expected increases in gross and net margins, and Byrna’s positioning for sustained growth in 2025 and 2026. Forward-looking statements are not, and cannot be, a guarantee of future results or events. Forward-looking statements are based on, among other things, opinions, assumptions, estimates, and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies, and other factors that may cause actual results and events to be materially different from those expressed or implied.

    Any number of risk factors could affect our actual results and cause them to differ materially from those expressed or implied by the forward-looking statements in this news release, including, but not limited to, disappointing market responses to current or future products or services; prolonged, new, or exacerbated disruption of our supply chain; the further or prolonged disruption of new product development; production or distribution disruption or delays in entry or penetration of sales channels due to inventory constraints, competitive factors, increased transportation costs or interruptions, including due to weather, flooding or fires; prototype, parts and material shortages, particularly of parts sourced from limited or sole source providers; determinations by third party controlled distribution channels, including Amazon, not to carry or reduce inventory of the Company’s products; determinations by advertisers or social media platforms, or legislation that prevents or limits marketing of some or all Byrna products; the loss of marketing partners; increases in marketing expenditure may not yield expected revenue increases; potential cancellations of existing or future orders including as a result of any fulfillment delays, introduction of competing products, negative publicity, or other factors; product design or manufacturing defects or recalls; litigation, enforcement proceedings or other regulatory or legal developments; changes in consumer or political sentiment affecting product demand; regulatory factors including the impact of commerce and trade laws and regulations; and future restrictions on the Company’s cash resources, increased costs and other events that could potentially reduce demand for the Company’s products or result in order cancellations. The order in which these factors appear should not be construed to indicate their relative importance or priority. We caution that these factors may not be exhaustive; accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. Investors should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, (“Risk Factors”) in the Company’s most recent Form 10-K and Part II, Item 1A (“Risk Factors”) in the Company’s most recent Form 10-Q, should understand it is impossible to predict or identify all such factors or risks, should not consider the foregoing list, or the risks identified in the Company’s SEC filings, to be a complete discussion of all potential risks or uncertainties, and should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise any forward-looking information, except as required by applicable law.

    Investor Contact:
    Tom Colton and Alec Wilson
    Gateway Group, Inc.
    949-574-3860
    BYRN@gateway-grp.com

    -Financial Tables to Follow-

    BYRNA TECHNOLOGIES INC.
    Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
    (Amounts in thousands except share and per share data)
    (Unaudited)
                                     
        For the Three Months Ended
    		     For the Nine Months Ended
    		  
        August 31,
    		     August 31,
    		  
          2024       2023       2024       2023  
    Net revenue   $ 20,854     $ 7,085     $ 57,777     $ 27,004  
    Cost of goods sold     7,842       3,927       22,566       12,402  
    Gross profit     13,012       3,158       35,211       14,602  
    Operating expenses     12,184       7,267       32,633       21,522  
    INCOME (LOSS) FROM OPERATIONS     828       (4,109 )     2,578       (6,920 )
    OTHER INCOME (EXPENSE)                
    Foreign currency transaction loss     (103 )     (54 )     (381 )     (238 )
    Interest income     281       239       883       525  
    Loss from joint venture     (62 )     (287 )     (42 )     (625 )
    Other income (expense)     3       (7 )     7       (270 )
    INCOME (LOSS) BEFORE INCOME TAXES     947       (4,218 )     3,045       (7,528 )
    Income tax benefit     78       124       75       165  
    NET INCOME (LOSS)   $ 1,025     $ (4,094 )   $ 3,120     $ (7,363 )
                     
    Foreign currency translation adjustment for the period     381       585       410       (641 )
    COMPREHENSIVE INCOME (LOSS)   $ 1,406     $ (3,509 )   $ 3,530     $ (8,004 )
                     
    Basic net income (loss) per share   $ 0.05     $ (0.19 )   $ 0.14     $ (0.34 )
    Diluted net income (loss) per share   $ 0.04     $ (0.19 )   $ 0.14     $ (0.34 )
                     
    Weighted-average number of common shares outstanding – basic     22,758,155       21,960,163       22,509,018       21,895,815  
    Weighted-average number of common shares outstanding – diluted     23,410,159       21,960,163       23,072,498       21,895,815  
                     
                     
    BYRNA TECHNOLOGIES INC.
    Condensed Consolidated Balance Sheets
    (Amounts in thousands, except share and per share data)
                     
        August 31,
    		     November 30,
    		  
         2024      2023  
        Unaudited
    		      
    ASSETS        
    CURRENT ASSETS        
    Cash and cash equivalents   $ 20,077     $ 20,498  
    Accounts receivable, net     2,128       2,945  
    Inventory, net     19,797       13,890  
    Prepaid expenses and other current assets     1,983       868  
    Total current assets     43,985       38,201  
    LONG TERM ASSETS        
    Intangible assets, net     3,401       3,583  
    Deposits for equipment     1,927       1,163  
    Right-of-use asset, net     2,404       1,805  
    Property and equipment, net     3,481       3,803  
    Goodwill     2,258       2,258  
    Loan to joint venture     —       1,473  
    Other assets     1,548       28  
    TOTAL ASSETS   $ 59,004     $ 52,314  
             
    LIABILITIES        
    CURRENT LIABILITIES        
    Accounts payable and accrued liabilities   $ 11,124     $ 6,158  
    Operating lease liabilities, current     596       644  
    Deferred revenue, current     818       1,844  
    Total current liabilities     12,538       8,646  
    LONG TERM LIABILITIES        
    Deferred revenue, non-current     28       91  
    Operating lease liabilities, non-current     1,899       1,258  
    Total liabilities     14,465       9,995  
             
             
    STOCKHOLDERS‘ EQUITY        
    Preferred stock     —       —  
    Common stock     24       24  
    Additional paid-in capital     132,364       130,426  
    Treasury stock     (20,747 )     (17,500 )
    Accumulated deficit     (66,456 )     (69,575 )
    Accumulated other comprehensive loss     (646 )     (1,056 )
             
    Total Stockholders’ Equity     44,539       42,319  
             
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   $ 59,004     $ 52,314  
             

    Non-GAAP Financial Measures

    In addition to providing financial measurements based on generally accepted accounting principles in the United States (GAAP), we provide an additional financial metric that is not prepared in accordance with GAAP (non-GAAP) with presenting non-GAAP adjusted EBITDA. Management uses this non-GAAP financial measure, in addition to GAAP financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes and to evaluate our financial performance. We believe that this non-GAAP financial measure helps us to identify underlying trends in our business that could otherwise be masked by the effect of certain expenses that we exclude in the calculations of the non-GAAP financial measure.

    Accordingly, we believe that this non-GAAP financial measure reflects our ongoing business in a manner that allows for meaningful comparisons and analysis of trends in the business and provides useful information to investors and others in understanding and evaluating our operating results, enhancing the overall understanding of our past performance and future prospects.

    This non-GAAP financial measure does not replace the presentation of our GAAP financial results and should only be used as a supplement to, not as a substitute for, our financial results presented in accordance with GAAP. There are limitations in the use of non-GAAP measures, because they do not include all the expenses that must be included under GAAP and because they involve the exercise of judgment concerning exclusions of items from the comparable non-GAAP financial measure. In addition, other companies may use other non-GAAP measures to evaluate their performance, or may calculate non-GAAP measures differently, all of which could reduce the usefulness of our non-GAAP financial measure as a tool for comparison.

    Adjusted EBITDA

    Adjusted EBITDA is defined as net (loss) income as reported in our condensed consolidated statements of operations and comprehensive (loss) income excluding the impact of (i) depreciation and amortization; (ii) income tax provision (benefit); (iii) interest income (expense); (iv) stock-based compensation expense, (v) impairment loss, and (vi) one time, non-recurring other expenses or income. Our Adjusted EBITDA measure eliminates potential differences in performance caused by variations in capital structures (affecting finance costs), tax positions, the cost and age of tangible assets (affecting relative depreciation expense) and the extent to which intangible assets are identifiable (affecting relative amortization expense). We also exclude certain one-time and non-cash costs. Reconciliation of Adjusted EBITDA to net (loss) income, the most directly comparable GAAP measure, is as follows (in thousands):

        For the Three Months Ended   For the Nine Months Ended
        August 31,   August 31,
         2024     2023     2024     2023 
    Net Income (Loss)   $ 1,025     $ (4,094 )   $ 3,120     $ (7,363 )
                     
    Adjustments:                
    Interest income     (281 )     (239 )     (883 )     (525 )
    Income tax benefit     (78 )     (124 )     (75 )     (165 )
    Depreciation and amortization     263       333       1,113       897  
    Non-GAAP EBITDA   $ 929     $ (4,124 )   $ 3,275     $ (7,156 )
                     
    Stock-based compensation expense     819       1,738       2,615       4,691  
    Impairment loss     –       –       –       176  
    Severance/Separation/Officer recruiting     196       30       431       82  
    Non-GAAP adjusted EBITDA   $ 1,944     $ (2,356 )   $ 6,321     $ (2,207 )
                     

    1 See non-GAAP financial measures at the end of this press release for a reconciliation and a discussion of non-GAAP financial measures.

    The MIL Network –

  • MIL-OSI Security: Independent Review Assesses IAEA’s Internal Safety Regulatory System for First Time, Finds Well-Established Framework

    Source: International Atomic Energy Agency – IAEA

    IAEA Director General Rafael Mariano Grossi (center) at the opening of the Integrated Regulatory Review Service (IRRS) mission to the IAEA.  (Yiran Zhang/IAEA)

    The first-ever independent review of the International Atomic Energy Agency’s (IAEA) internal radiation safety regulatory framework has confirmed that the system is well-established, with the IAEA’s regulator showing a strong dedication to ongoing enhancement and improvement. The review provided recommendations for a further strengthening and enhancing of the Agency’s regulatory system for safety.

    The Integrated Regulatory Review Service (IRRS) mission, held from 30 September to 9 October, was requested by IAEA Director General Rafael Mariano Grossi last year. In line with his request, the mission covered all core regulatory areas of radiation safety, waste safety, emergency preparedness and response, transport, and the interface with nuclear security.

    The IAEA uses radiation technologies and implements international safety standards in its own operations, overseen by an independent regulator who is also part of IAEA staff.

     This regulator provides safety oversight of activities which involve radiation uses at the Agency’s laboratories in Vienna, Seibersdorf, and Monaco. Additionally, the regulator oversees the IAEA’s involvement in activities conducted, organized, or contracted within its Member States.

    “Radiation safety demands unwavering vigilance and preparedness,” said Director General Grossi. “By initiating this unique IRRS mission, the IAEA is leading by example, applying the best safety practices also to our own work and openly communicating on any gaps. This is especially important today, as the number of new nuclear projects continues to grow worldwide.”

    Using IAEA safety standards and international good practices, IRRS missions are designed to strengthen the effectiveness of the national legal and regulatory infrastructures while recognizing the responsibility of each country to ensure nuclear and radiation safety. It is the first time an IRRS was conducted in an organization that does not belong to one Member State, a fact that was recognized by the IRRS team as a good practice.  

    “The Agency has demonstrated a strong commitment to IAEA safety standards by proactively utilizing the peer review system, typically designed for Member States, to evaluate its own internal implementation of these standards,” said Carl-Magnus Larsson, IRRS Team Leader. “This approach goes beyond what is required, is unique, and serves as a replicable model for other organizations”.

    During the ten-day mission, the IRRS team – comprised of 10 senior regulatory experts from Canada, Czech Republic, Brazil, Norway, Qatar, Slovenia, United Arab Emirates, United Kingdom, United States of America and Zimbabwe, two IAEA staff members and one observer from Austria – held discussions with Agency staff and observed regulatory inspections at the Agency’s Insect Pest Control Laboratory in its nuclear applications laboratories in Seibersdorf, Austria.

    The IRRS team concluded that the IAEA’s regulatory programme for radiation, transport, and waste safety is well-established, demonstrating its strong commitment to upholding international safety standards. Additionally, the IRRS team welcomed the regulator’s dedication to continuously advancing and improving the IAEA regulatory system.

    The review also included recommendations to help the Agency further strengthen the effectiveness of its regulatory framework and functions. These recommendations will be detailed in the final report, which is expected to be completed within the next three months.

    The findings included the need for the IAEA to:

    • Develop a comprehensive policy and strategy for safety, tailored to the IAEA’s specific strategic and operational activities.
    • Initiate a review of resourcing to ensure that the Regulator has sufficient human and financial resources for sustainable discharge of its assigned responsibilities, including the resources needed to continuously improve the regulatory framework and to enhance the competence of the regulatory staff.
    • Consider formalising arrangements to ensure continued regulatory independence.
    • Consider assessing events occurring at the IAEA laboratories involving radiation technologies at the Agency Seat against the International Nuclear and Radiological Event Scale (INES) and report those events at Level 2 and above to Member States.

    The Team provided specific recommendations for the IAEA Regulator, including:

    • Completing the documentation for the regulatory management system.
    • Arranging for independent assessments of the regulator’s leadership for safety and safety culture at planned intervals to improve the overall safety performance.
    • Finalizing and formally adopting procedures for authorization taking into account a graded approach.  
    • Developing an inspection programme and plan in accordance with a graded approach.
    • Formally adopting a process for establishing regulations and regulatory guides, including the frequency for reviewing the regulatory guides and a system to ensure that the development and implementation of regulations and guides is based on a graded approach.

    IAEA Deputy Director General and Head of the Department of Nuclear Safety and Security Lydie Evrard said that at a time when several countries are setting up or strengthening their regulatory frameworks the IRRS mission to the IAEA is indicative of the Agency’s own commitment to the international safety standards. This mission also demonstrates that every regulatory body can benefit enormously from such a review regardless of their size and status.

    “The recommendations from this mission will help us to continuously improve and we are committed to further strengthening and enhancing the Agency’s regulatory framework for radiation safety,” said Deputy Director General Evrard.

    IAEA safety standards

    The IAEA safety standards provide a robust framework of fundamental principles, requirements and guidance to ensure safety. They reflect an international consensus and serve as a global reference for protecting people and the environment from the harmful effects of ionizing radiation.

    MIL Security OSI –

  • MIL-OSI: Bitget Integrates GMCI Indices Enabling Curated-Secured Trading

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Oct. 09, 2024 (GLOBE NEWSWIRE) — Bitget, the world’s leading cryptocurrency exchange and Web3 company, has announced the addition of the GMCI indices to its futures market, enabling traders to access a diversified range of assets securely. The GMCI indices are curated based on strict criteria to ensure a verified overview of the market. For any coin to be included in the GMCI indices, it must be actively traded on at least one of eight major centralized exchanges (CEXs) with sufficient trading volume.

    Additionally, each coin must have the support of at least one of three custodians, ensuring the integrity and security of assets. The indices focus on coins with transparent circulating market capitalization. Circulating Market Cap information is obtained from CoinMarketCap and CoinGecko, and live pricing information is sourced from Coin Metrics, which also serves as GMCI’s third-party index calculation agent.

    The GMCI 30 index stands out by featuring the top 30 coins within the GMCI asset universe, excluding stablecoins, wrapped assets, and staked assets such as USDC, WBTC, and stETH. This index provides traders with exposure to a comprehensive set of the leading digital assets, capturing the broader market’s movements while maintaining diversification and reducing over-concentration in any single asset.

    “At Bitget we prioritize the security of our users while delivering world-class innovation. This aligns with Bitget’s broader strategy of accelerating utility and mass adoption of crypto within a safe and secure ecosystem,” said Gracy Chen, CEO at Bitget. “By providing a curated set of assets backed by trusted custodians, we aim to empower traders with informed, diversified options to enhance the ease of managing wealth,” she added.

    Rebalancing occurs monthly, on the last Friday of each month, with adjustments made according to the circulating market capitalization of the coins. This process ensures the indices remain up-to-date with market fluctuations, allowing them to reflect current trends and price movements accurately. While individual token positions are capped at 25% during rebalancing, they can float based on price performance, offering a dynamic representation of the market’s momentum throughout the month.

    The GMCI Meme index caters to the growing interest in meme coins, a segment that has garnered significant attention and trading volume within the crypto community. This index includes the top meme coins traded across selected exchanges, allowing users to hop on emerging memecoin trends securely.

    “Our collaboration with Bitget to launch a perpetual contract on the GMCI 30 index is a significant step in expanding the accessibility of our index solutions to a broader market. As a leading crypto exchange in terms of trading volume and innovation, Bitget shares our vision of delivering cutting-edge, reliable products to the trading community. This marks the beginning of further partnerships that will see GMCI indices used as the benchmark of choice for innovative trading products across leading platforms,” said Maarten Botman, CEO at GMCI.

    Offering exposure to a range of assets, GMCI indices help traders navigate diverse market segments. GMCI indices provide the robustness and transparency investors are accustomed to on the traditional financial markets while tapping into expertise in crypto much like Bitget. With this, Bitget users can now access GMCI indices including memecoins indices on the platform.

    To get started, please visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading, AI bot and other trading solutions. Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including being the Official Crypto Partner of the World’s Top Professional Football League, LALIGA, in EASTERN, SEA and LATAM, as well as a global partner of Olympic Athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

    For media inquiries, please contact: media@bitget.com

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/459f37c8-cd0b-4be2-a7ba-6fcfd6f5e43e

    The MIL Network –

  • MIL-OSI: Airship AI Announces $1.2 Million Contract Award with Fortune 100 Transportation & E-Commerce Company for Acropolis Enterprise Video and Data Management Platform

    Source: GlobeNewswire (MIL-OSI)

    Continuation of Support and Maintenance for Existing Deployment Supporting
    Operational and Physical Security Requirements for Global Operations

    REDMOND, Wash., Oct. 08, 2024 (GLOBE NEWSWIRE) — Airship AI Holdings, Inc. (NASDAQ: AISP) (“Airship AI” or the “Company”), a leader in AI-driven video, sensor, and data management surveillance solutions, has been awarded a contract worth $1.2 million with a Fortune 100 transportation and e-commerce company for the support and maintenance over the next nine months for an existing globally deployed Acropolis Enterprise Video and Data Management platform supporting the company’s operational and physical security requirements.

    “This award underscores the significance of our platform in enhancing our customers’ deployment of the Acropolis ecosystem, which enables them to federate and manage global logistics operations from a unified security operations center,” said Paul Allen, President of Airship AI. “Our support and maintenance agreements ensure that customers can connect with the Airship technical support team anytime, anywhere, receiving comprehensive electronic and telephonic assistance for our entire suite of products.”

    Airship AI’s Acropolis backend enterprise management system enables customers to manage devices and sensors across their entire digital ecosystem via hardware deployed on-premises or in the cloud while utilizing Artificial Intelligence (AI) at the edge and/or the backend to optimize operational efficiency and improve real-time decision-making capabilities. Combining the sensor-agnostic nature of our Acropolis platform with our edge-based AI platform, Outpost AI customers can efficiently add “smarts” to existing edge sensors, avoiding costly and operationally disruptive “rip and replace” requirements.

    “Migrating customers to Airship AI is just the beginning of our relationship. Once our platform is operational in their environment, we focus on supporting their workflows to enhance their operational effectiveness and efficiencies. This support includes new software releases, patches, and updates. Our comprehensive approach to building and maintaining relationships at the manufacturer level is a key factor in our impressive customer retention rate, which remains in the high 90th percentile,” concluded Mr. Allen.

    To experience how Airship AI and its suite of enterprise video and data management solutions can help your organization solve your complex video and data management challenges, please email your request to info@airship.ai.

    About Airship AI Holdings, Inc.

    Founded in 2006, Airship AI is a U.S. owned and operated technology company headquartered in Redmond, Washington. Airship AI is an AI-driven video, sensor and data management surveillance platform that improves public safety and operational efficiency for public sector and commercial customers by providing predictive analysis of events before they occur and meaningful intelligence to decision makers. Airship AI’s product suite includes Outpost AI edge hardware and software offerings, Acropolis enterprise management software stack, and Command family of visualization tools.
    For more information, visit https://airship.ai.

    Forward-Looking Statements

    The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, (1) statements regarding estimates and forecasts of financial, performance and operational metrics and projections of market opportunity; (2) changes in the market for Airship AI’s services and technology, expansion plans and opportunities; (3) the projected technological developments of Airship AI; and (4) current and future potential commercial and customer relationships. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Airship AI’s management and are not predictions of actual performance. These forward-looking statements are also subject to a number of risks and uncertainties, as set forth in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on April 1, 2024, and the other documents that the Company has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while it may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

    Investor Contact:
    Chris Tyson/Larry Holub
    MZ North America
    949-491-8235
    AISP@mzgroup.us

    The MIL Network –

  • MIL-OSI: Avetta Appoints Brandon Grinwis as Chief Financial Officer

    Source: GlobeNewswire (MIL-OSI)

    LEHI, Utah and HOUSTON, Oct. 08, 2024 (GLOBE NEWSWIRE) — Avetta®, the leading provider of supply chain risk management (SCRM) software, announced Brandon Grinwis as the company’s next Chief Financial Officer. Grinwis will oversee the company’s financial strategy through its next stage of growth and will report directly to Avetta’s CEO, Arshad Matin.

    “We are thrilled to welcome Brandon as the CFO of Avetta,” said Arshad Matin, CEO of Avetta. “Brandon is a proven leader who will oversee our finance team during an important time for Avetta in our ongoing growth and innovation journey. An executive of his caliber brings a wealth of knowledge that will offer great value to Avetta through its next chapter of growth.”

    Grinwis is a business-focused CFO with a background in technology and has proven experience making operational and strategic contributions to growth-oriented companies. He brings over 20 years of experience in finance and accounting, ranging from management consulting to private equity and publicly traded environments. Previously, he served as Chief Financial Officer and Executive Vice President of Customer Operations at Insurity, where he was responsible for developing and leading world-class teams focused on driving customer success and supporting organizational growth. Before that, he held leadership roles at Ascentis (acquired by UKG) as CFO and Code42 as Vice President of Finance and Business Operations.

    “I am excited to join Avetta as the company executes its mission to create safer and more sustainable workplaces,” said Brandon Grinwis, CFO of Avetta. “There is a tremendous opportunity to scale the business and make an even greater impact on the industry. I look forward to bringing my experience to advance the company’s mission and deliver value to suppliers and clients globally.”

    Grinwis holds a Master of Business Administration from the University of Notre Dame and a Bachelor’s in Finance and Economics from Ohio University.

    About Avetta

    The Avetta SaaS platform helps clients manage supply chain risk and their suppliers to become more qualified for jobs. For the hiring clients in our network, we offer the world’s largest supply chain risk management network to manage supplier safety, sustainability, worker competency and performance. We perform contractor prequalification and worker competency management across major industries, all over the globe, including construction, energy, facilities, high tech, manufacturing, mining and telecom.

    Media Contact

    avetta@hoffman.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cebd8353-64c3-497d-8220-9eaf2b16c708

    The MIL Network –

  • MIL-OSI Russia: Complete in 2024 – VTB accelerates merger with Pochta Bank

    MILES AXLE Translation. Region: Russian Federation –

    Source: Mainfin Bank –

    Why is VTB accelerating integration with Post Bank?

    Post Bank is jointly owned VTB and Russian Post, but after the deal, VTB will become the institution’s sole shareholder. The acceleration of integration into Post Bank is explained by several reasons:

    the merger of the two banks will be easier to implement if there is a single decision-making center; Russian Post is experiencing a financial deficit; last year the company suffered a loss of over 7 billion rubles; high key rate – the seller of Post Bank will be able to place the received capital with maximum benefit.

    The financial difficulties of Russian Post have been going on for a long time, for example, in 2022 the company suffered a loss of 27 billion rubles. In 2023, the organization developed a plan to overcome the crisis, among the possible measures is obtaining additional capital.

    What is known about the merger deal between Pochta Bank and VTB?

    VTB management plans to complete the buyout of shares in Pochta Bank in the coming months – the deal is currently undergoing preparation and approval by regulatory authorities (permission from the FAS and the Central Bank of the Russian Federation has not yet been received). The following is known about the merger:

    VTB is to buy out 49.99% of shares from Russian Post and two shares from the bank’s top manager; the deal is valued at an average of RUB 35 billion; the integration of the two banks will be carried out throughout 2025; the complete closure of the Post Bank brand will take place in 2026.

    “A decision on the integration processes has not yet been made; a separate sub-brand may appear on the basis of Pochta Bank – this issue will be discussed only after the completion of the deal,” VTB states.

    Pochta Bank enters the top 30 banks countries in terms of asset size and capital volume, the key area of work is serving individuals and providing consumer creditsThe key feature of the company is an extensive network of offices, represented both independently and in the branches of Russian Post.

    12:00 08.10.2024

    Source:

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

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

    http://mainfin.ru/news/completion-in-2024-VTB-accelerates-merger-with-post-bank

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News –

  • MIL-OSI: OMNIQ to Present at the Small Cap Virtual Investor Conference October 10th

    Source: GlobeNewswire (MIL-OSI)

    SALT LAKE CITY, Oct. 08, 2024 (GLOBE NEWSWIRE) — OMNIQ CORP. (OMQS), a leader in AI-machine vision and automation technology, today announced that Shai Lustgarten, CEO will present live at the Small Cap Virtual Investor Conference, hosted by VirtualInvestorConferences.com, on October 10th 2024.

    DATE: October 10th
    TIME: 11:00 AM ET
    LINK: https://bit.ly/47jLzOI

    Available for 1×1 meetings upon request

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.  

    Learn more about the event at http://www.virtualinvestorconferences.com.

    Recent Company Highlights

    • OMNIQ Recently announced a collaboration with NEC to enhance public safety.
    • Following recent purchase orders for $2.5M and $1M.
    • This is following a strategic alliance with Ingenico to enhance fintech capabilities.

    About OMNIQ

    OMNIQ Corp. (OTCQB: OMQS) provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver real-time object identification, tracking, surveillance, and monitoring for the Supply Chain Management, Public Safety, and Traffic Management applications. The technology and services provided by the Company help clients move people, objects, and big data safely and securely through airports, warehouses, schools, and national borders and in many other applications and environments.

    OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have more than doubled, reaching $81 million in 2023, from clients in more than forty countries.

    The Company currently addresses several billion-dollar markets with double-digit growth, including the Global Smart City & Public Safety markets.  

    For more information visit http://www.omniq.com

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

    Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    Forward-Looking Statements:
    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “anticipate,” “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Examples of forward-looking statements include, among others, statements made in this press release regarding the closing of the private placement and the use of proceeds received in the private placement. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company’s products particularly during the current health crisis, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, and other information that may be detailed from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting OMNIQ Corp., please refer to the Company’s recent Securities and Exchange Commission filings, which are available at SEC.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless otherwise required by law.

    CONTACTS:
    OMNIQ
    ir@omniq.com
    http://www.omniq.com

    Virtual Investor Conferences
    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com

    The MIL Network –

  • MIL-OSI: Enact to Host Third Quarter 2024 Earnings Call November 7th

    Source: GlobeNewswire (MIL-OSI)

    RALEIGH, N.C., Oct. 08, 2024 (GLOBE NEWSWIRE) — Enact Holdings, Inc. (Nasdaq: ACT) (Enact) announced it will issue its third quarter earnings release after the market closes on November 6, 2024. Enact will host a conference call to review third quarter 2024 financial results on November 7, 2024 at 8:00 a.m. (ET).

    Enact’s earnings release, summary presentation and financial supplement will be available through the company’s website, https://ir.enactmi.com/, at the time of their release to the public.

    Participants interested in joining the call’s live question and answer session are required to pre-register by clicking here to obtain a dial-in number and unique PIN. It is recommended to join at least 15 minutes in advance, although you may register ahead of the call and dial in at any time during the call. If you wish to join the call but do not plan to ask questions, a live webcast of the event will be available on our website, https://ir.enactmi.com/news-and-events/events.

    The webcast also will be archived on the company’s website for one year.

    About Enact Holdings, Inc.
    Enact (Nasdaq: ACT), operating principally through its wholly-owned subsidiary Enact Mortgage Insurance Corporation since 1981, is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders’ businesses and a legacy of financial strength, we partner with lenders to bring best-in class service, leading underwriting expertise, and extensive risk and capital management to the mortgage process, helping to put more people in homes and keep them there. By empowering customers and their borrowers, Enact seeks to positively impact the lives of those in the communities in which it serves in a sustainable way. Enact is headquartered in Raleigh, North Carolina.

    The MIL Network –

  • MIL-OSI: Rocket Software Study Finds Less than One-Third of Businesses are Using all Available Data to Inform AI Models

    Source: GlobeNewswire (MIL-OSI)

    WALTHAM, Mass., Oct. 08, 2024 (GLOBE NEWSWIRE) — Rocket Software, a global technology leader in modernization software, today announced the findings from its survey, Rethinking the Role of Mainframe Data in Enterprise AI and Analytics. Conducted by Foundry Media for Rocket Software, the survey polled over 200 business leaders and decision-makers in data analytics, management, engineering, and architecture across the U.S., U.K., Germany, and France, to understand how organizations are leveraging mainframe data as part of their AI and analytics initiatives. The survey found that only 28% of survey respondents are using mainframe data extensively in data-driven initiatives. Not factoring mainframe data – which includes both real-time and historical information on customer interactions, account data, financial transactions, and inventory – into AI models is a missed opportunity. By integrating this rich data, models become more accurate, insightful, and reflective of the full scope of an organization’s operations, unlocking powerful insights and driving more informed decision-making.

    AI and advanced analytics are playing an increasing role in how businesses differentiate themselves, unlocking opportunities for new efficiencies, growth drivers, and customer experiences. The success and usefulness of an AI model lies in the data that it is trained on. In the race to adopt AI, a majority of organizations have failed to fully leverage mainframe data to enhance their models. AI that accurately represents all of a business’s data empowers leaders with greater visibility into operations and provides deeper insights, facilitating informed decision-making in real-time. In fact, 46% of respondents said mainframe data was a potential means for improving data quality, accuracy, and completeness of existing datasets.

    Challenges, both real and perceived, have led many to struggle when it comes to integrating mainframe data into their AI and analytics capabilities:

    • 76% of leaders said they found accessing mainframe data and contextual metadata to be either very or somewhat challenging
    • 64% said they considered integrating mainframe data with cloud data sources to be somewhat to very challenging
    • The biggest obstacles to leveraging mainframe data were found to be:
      • Complexity of data retrieval and extraction processes (59%)
      • Concerns regarding security, compliance, and data privacy (56%)
      • Proprietary data formats (41%)

    “If organizations fail to incorporate their mainframe data into AI and analytics, they risk developing models that are less intelligent, powerful, or accurate,” said Michael Curry, President, Data Modernization Business Unit, at Rocket Software. “Rocket Software has the technology and expertise to help enterprises easily bridge their mainframe data into their AI and analytics initiatives, automating away the complexity, and reducing the need for specialized skills and knowledge to protect, retrieve, and extract mainframe data.”

    Mainframe modernization is a worthwhile pursuit. Forty two percent of respondents said they prefer to adopt a prebuilt solution to integrate their mainframe data with cloud data, and 51% cited building new analytical capabilities or business initiatives that were not previously possible was the most attractive use case for mainframe data. That’s where experienced partners, who offer resources across the modernization continuum, can support businesses by mitigating challenges to unlock data’s full potential. Survey respondents noted scalability for large datasets (82%), interoperability with existing data management tools and platforms (82%), and robust security and encryption (81%) as the top benefits for integrating mainframe and cloud data.

    To download the full study, click here. For further insights, register for Rocket Software’s webinar on November 12, here.

    Methodology
    Foundry surveyed 213 business leaders and decision-makers, including those employed in data analytics, data management, data engineering, or data architecture roles between May 10, 2024, and May 27, 2024, to understand how organizations are leveraging or planning to leverage mainframe data as part of their AI and analytics initiatives to drive strategy, improve operational efficiencies, and enhance competitive advantage.

    About Rocket Software
    Rocket Software is a global technology leader in modernization and a partner of choice that empowers the world’s leading businesses on their modernization journeys, spanning core systems to the cloud. Trusted by over 12,500 customers and 750 partners, and with more than 3,000 global employees, Rocket Software enables customers to maximize their data, applications, and infrastructure to deliver critical services that power our modern world. Rocket Software is a privately held U.S. corporation headquartered in the Boston area with centers of excellence strategically located throughout North America, Europe, Asia and Australia. Rocket Software is a portfolio company of Bain Capital Private Equity. Follow Rocket Software on LinkedIn and Twitter or visit http://www.RocketSoftware.com.

    Media Contact
    Lacey Darrow
    ldarrow@rocketsoftware.com

    The MIL Network –

  • MIL-OSI: Syncfusion Presents Essential Studio 2024 Volume 3

    Source: GlobeNewswire (MIL-OSI)

    RESEARCH TRIANGLE PARK, N.C., Oct. 08, 2024 (GLOBE NEWSWIRE) — Syncfusion, Inc., the enterprise technology partner of choice, announces the release of Essential Studio 2024 Volume 3. This release introduces two new controls for .NET MAUI, four for Blazor, three for the JS 2 suites, a new Chat widget for Flutter, and lots of new features and enhancements for our developers to enjoy.

    “As artificial intelligence features more in our everyday technology, people expect to find it making their lives easier. Our teams have been focused on providing developers with the tools to make this happen in their apps for this release,” said Syncfusion CEO Daniel Jebaraj. “With all the innovation surrounding AI right now, we hope our new controls will help them make really cool smart apps.”

    .NET MAUI
    The 2024 Volume 3 release provides two new controls for .NET MAUI in preview:

    • AI AssistView: Provides a customizable, user-friendly interface for interaction between users and AI services.
    • Kanban: Helps teams track and manage work in progress by organizing tasks into columns representing stages in a project.

    A highlight of the suite’s new features is three new series types for the Cartesian Charts component: stacked line, 100% stacked line, and spline range area. The TreeMap gains drill-down support and rows can now be dragged and dropped to reorder them in the DataGrid control.

    Essential JS 2
    The JS 2 component suites have all received three new AI-powered components in preview:

    • AI AssistView
    • Smart Paste Button: This button simplifies form-filling by pulling content from the clipboard, using AI to match form fields.
    • Smart TextArea: An advanced input area offering context-aware autocomplete suggestions using AI.

    The MultiColumn ComboBox and OTP Input components are now ready for production. Angular components can take advantage of the Fluent 2 high contrast theme and the Bootstrap 5.3 theme upgrade. There are also lots of new features for components like Charts, Diagram, and the Rich Text Editor, as well as performance improvements for the PDF Viewer.

    Blazor
    The Syncfusion Blazor suite also gains four new controls in Volume 3:

    In addition, the OTP Input and TextArea controls have been developed to industry standards and are ready for production. The Diagram control gains a multitude of new features and all Blazor controls can now use a Fluent 2 high contrast theme.

    Flutter
    A brand-new Chat widget has been developed for the Flutter platform, available in preview. This chat interface was designed to facilitate one-on-one or group conversations. Developers can customize the appearance and behavior of its features, like the chat bubbles, input composer, and action buttons. Flutter users can also enjoy sticky note annotations in the PDF Viewer and axes enhancements in the Charts widget.

    These are just a few of the highlights from the Essential Studio 2024 Volume 3 release. To see all the new features and enhancements, check out the Volume 3 blog, What’s New page, or release notes. Current subscribers can download the new version from the License and Downloads page after logging in.

    About Syncfusion, Inc.

    Syncfusion is the enterprise technology partner of choice for software development and business intelligence, delivering an ecosystem of compatible developer control suites, embeddable BI platforms, and business software. Headquartered in Research Triangle Park, N.C., Syncfusion has established itself as a trusted partner worldwide for use in mission-critical applications through its service-oriented approach. Syncfusion’s Essential Studio suite has expanded from one data grid at its launch in 2001, to over 1,800 controls for web, mobile, and desktop development. After nearly two decades of helping developers build business software with Essential Studio, the company channeled this expertise into its own line of enterprise products: Bold BI and Bold Reports for embedded business intelligence, data analysis, and visualization; BoldSign, an embeddable e-signing solution; and most recently, BoldDesk, a customer support platform. Today, Syncfusion has more than 33,000 customers, including large financial institutions, Fortune 500 companies, and global IT consultancies, relying on Essential Studio and Bold products for their business success.

    Contact: Brittany Kearns
    Phone: 919-270-8054
    Email: brittany@crossroadsb2b.com

    The MIL Network –

  • MIL-OSI: Airship AI Announces $1.2 Million Contract Award with Fortune 100 Transportation & E-Commerce Company for Acropolis Enterprise Video and Data Management Platform

    Source: GlobeNewswire (MIL-OSI)

    Continuation of Support and Maintenance for Existing Deployment Supporting
    Operational and Physical Security Requirements for Global Operations

    REDMOND, Wash., Oct. 08, 2024 (GLOBE NEWSWIRE) — Airship AI Holdings, Inc. (NASDAQ: AISP) (“Airship AI” or the “Company”), a leader in AI-driven video, sensor, and data management surveillance solutions, has been awarded a contract worth $1.2 million with a Fortune 100 transportation and e-commerce company for the support and maintenance over the next nine months for an existing globally deployed Acropolis Enterprise Video and Data Management platform supporting the company’s operational and physical security requirements.

    “This award underscores the significance of our platform in enhancing our customers’ deployment of the Acropolis ecosystem, which enables them to federate and manage global logistics operations from a unified security operations center,” said Paul Allen, President of Airship AI. “Our support and maintenance agreements ensure that customers can connect with the Airship technical support team anytime, anywhere, receiving comprehensive electronic and telephonic assistance for our entire suite of products.”

    Airship AI’s Acropolis backend enterprise management system enables customers to manage devices and sensors across their entire digital ecosystem via hardware deployed on-premises or in the cloud while utilizing Artificial Intelligence (AI) at the edge and/or the backend to optimize operational efficiency and improve real-time decision-making capabilities. Combining the sensor-agnostic nature of our Acropolis platform with our edge-based AI platform, Outpost AI customers can efficiently add “smarts” to existing edge sensors, avoiding costly and operationally disruptive “rip and replace” requirements.

    “Migrating customers to Airship AI is just the beginning of our relationship. Once our platform is operational in their environment, we focus on supporting their workflows to enhance their operational effectiveness and efficiencies. This support includes new software releases, patches, and updates. Our comprehensive approach to building and maintaining relationships at the manufacturer level is a key factor in our impressive customer retention rate, which remains in the high 90th percentile,” concluded Mr. Allen.

    To experience how Airship AI and its suite of enterprise video and data management solutions can help your organization solve your complex video and data management challenges, please email your request to info@airship.ai.

    About Airship AI Holdings, Inc.

    Founded in 2006, Airship AI is a U.S. owned and operated technology company headquartered in Redmond, Washington. Airship AI is an AI-driven video, sensor and data management surveillance platform that improves public safety and operational efficiency for public sector and commercial customers by providing predictive analysis of events before they occur and meaningful intelligence to decision makers. Airship AI’s product suite includes Outpost AI edge hardware and software offerings, Acropolis enterprise management software stack, and Command family of visualization tools.
    For more information, visit https://airship.ai.

    Forward-Looking Statements

    The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, (1) statements regarding estimates and forecasts of financial, performance and operational metrics and projections of market opportunity; (2) changes in the market for Airship AI’s services and technology, expansion plans and opportunities; (3) the projected technological developments of Airship AI; and (4) current and future potential commercial and customer relationships. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Airship AI’s management and are not predictions of actual performance. These forward-looking statements are also subject to a number of risks and uncertainties, as set forth in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on April 1, 2024, and the other documents that the Company has filed, or will file, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while it may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

    Investor Contact:
    Chris Tyson/Larry Holub
    MZ North America
    949-491-8235
    AISP@mzgroup.us

    The MIL Network –

  • MIL-OSI: Richtech Robotics Signs Distribution Agreement with Sproutmation, LLC, Commercial Robotics and Automation Solutions Delivery Provider

    Source: GlobeNewswire (MIL-OSI)

    First purchase order under agreement is for 20 Scorpion units

    LAS VEGAS, Oct. 08, 2024 (GLOBE NEWSWIRE) — Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics”), a Nevada-based provider of AI-driven service robots, today announces it has signed a distribution agreement with Sproutmation, LLC (“Sproutmation”), a commercial robotics and automation solutions delivery provider. Sproutmation’s first purchase order is for 20 Scorpion units. Under the arrangement, Sproutmation has agreed to an annual sales target of 100 robot units.

    “We are continuously expanding our ecosystem of distribution partners and are pleased to announce our agreement with Sproutmation,” said Matt Casella, President of Richtech Robotics. “Our solutions are synergistic with Sproutmation’s offerings as the company is focused on robots that provide automation for clients. This collaboration will allow us to reach even more organizations across the country.”

    “We are impressed with Richtech Robotics’ suite of solutions, as they provide enhanced customer experiences and increased efficiencies,” stated Thean Ang, CEO of Sproutmation. “Providing these robots to our clients will help elevate our offerings, and we look forward to beginning their deliveries.”

    About Richtech Robotics

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

    About Sproutmation

    Sproutmation specializes in delivering commercial robotics and automation solutions, focusing on cleaning, delivery, and industrial robots. The company’s offerings cater to a range of sectors, including hospitality and industry, with a mission to streamline tasks and boost efficiency through cutting-edge technology. Based in Minnesota, USA, Sproutmation is dedicated to innovation and enhancing operational productivity with its robotic systems. For more information, you can visit http://www.sproutmation.com.

    Forward Looking Statements

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

    These forward-looking statements are based on Richtech Robotics’ current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements include, among others, risks and uncertainties related to market and other conditions, Richtech Robotics’ ability to deliver the requisite number of robot units under the distribution agreement, and Sproutmation’s ability to sell the requisite number of robotiunits under the distribution agreement. Investors should read the risk factors set forth in Richtech Robotics’ Annual Report on Form 10-K/A, filed with the SEC on March 27, 2024, the Registration Statement and periodic reports filed with the SEC on or after the date thereof. All of Richtech Robotics’ forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. New risks and uncertainties arise over time, and it is not possible for Richtech Robotics to predict those events or how they may affect Richtech Robotics. If a change to the events and circumstances reflected in Richtech Robotics’ forward-looking statements occurs, Richtech Robotics’ business, financial condition and operating results may vary materially from those expressed in Richtech Robotics’ forward-looking statements.

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

    Contact:

    Investors:
    CORE IR
    Matt Blazei
    ir@richtechrobotics.com

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

    The MIL Network –

  • MIL-OSI: Runway Growth Finance Corp. Provides Third Quarter 2024 Portfolio Update

    Source: GlobeNewswire (MIL-OSI)

    • Completed Seven Investments in New and Existing Portfolio Companies Representing $75.3 Million in Funded Investments

    MENLO PARK, Calif., Oct. 08, 2024 (GLOBE NEWSWIRE) — Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth” or the “Company”), a leading provider of flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity, today provided an operational and portfolio update for the third quarter ended September 30, 2024.

    “Runway Growth added attractive investments with new and existing portfolio companies in the third quarter as we seek to drive measured and strategic growth,” said David Spreng, Founder and CEO of Runway Growth. “We are pleased to announce two new investments during the quarter, which we believe embody our focus on high-quality, late and growth-stage companies in the fastest growing sectors of the economy. Runway Growth is positioned to execute disciplined investments, support our existing borrowers and generate solid risk-adjusted returns for our shareholders in the long term.”

    Originations
    In the third quarter of 2024, Runway Growth funded seven investments: two investments in new portfolio companies and five investments in existing portfolio companies. These include:

    • Completion of a new $23.0 million investment to Snap! Mobile, Inc. (“Snap”), funding $18.0 million at close. Snap offers a software platform designed to help schools, clubs, and teams fundraise, manage their rosters, communicate with parents and fans, and sell merchandise;
    • Completion of a new $45.3 million investment to Zinnia Corporate Holdings, LLC (“Zinnia”), funding $40.0 million at close. Zinnia provides business processing and technology solutions to the life insurance and annuity industry. Zinnia’s range of solutions includes distribution services and new business issuance, administration processing and call center operations, as well as compliance, fulfillment, and quality assurance services;
    • Completion of a new $20 million investment to existing portfolio company Elevate Services, Inc. (“Elevate”), funding $6.0 million during the quarter, which upsized Elevate’s previous $20 million senior secured term loan. Elevate is a global alternative legal services provider and legal process outsourcer that serves members of the Fortune 500 and 60+ global law firms with outsourced consultancy, technology, and managed services. Elevate has a suite of products and services across several different operating business units including contracts, contract lifetime management and insights, ElevateNext, med legal, ElevateFlex, consulting, and software;
    • Completion of follow-on investments with an aggregate amount of $6.3 million to two existing portfolio companies; and
    • During the quarter Runway-Cadma I LLC (the “JV”), our joint venture with Cadma Capital Partners LLC, purchased a portion of our Airship Group, Inc. loan, amounting to a $5.0 million equity investment in the JV subsidiary.

    Liquidity Events
    During the third quarter ended September 30, 2024, Runway Growth experienced the following liquidity events:

    • Full principal repayment of the Company’s senior secured term loan to CloudPay, Inc. of $75.0 million;
    • An assignment of $10.0 million of the Company’s investment in Airship Group, Inc. to the JV; and
    • Other scheduled principal amortization of $0.6 million.

    Portfolio Construction and Management
    Runway Growth is a credit-first organization, carefully structured to focus on what it believes to be the highest quality, late-stage companies in the venture debt market. The Company is committed to upholding what it believes to be industry-leading investment standards combined with disciplined underwriting and diligent monitoring of its portfolio. Runway Growth is positioned as a preferred lender in the venture debt space, supporting and working closely with companies to help them reach their full growth potential. Since inception, the Company has focused on the fastest growing sectors of the economy, including healthcare, technology and select consumer services and products industries.

    As of September 30, 2024, the Runway Growth portfolio included 49 debt investments to 32 portfolio companies and 86 equity investments in 53 portfolio companies, including 28 portfolio companies where Runway Growth holds both a debt and equity investment. Investments were comprised of late and growth-stage businesses in the technology, healthcare and consumer services and products industries. Runway Growth’s normal business operations include frequent communication with portfolio companies.

    About Runway Growth Finance Corp.
    Runway Growth is a growing specialty finance company focused on providing flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity. Runway Growth is a closed-end investment fund that has elected to be regulated as a business development company under the Investment Company Act of 1940. Runway Growth is externally managed by Runway Growth Capital LLC, an established registered investment advisor that was formed in 2015 and led by industry veteran David Spreng. For more information, please visit http://www.runwaygrowth.com.

    Forward-Looking Statements
    Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway Growth’s filings with the Securities and Exchange Commission. Runway Growth undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

    Important Disclosures
    Strategies described involve special risks that should be evaluated carefully before a decision is made to invest. Not all of the risks and other significant aspects of these strategies are discussed herein. Please see a more detailed discussion of these risk factors and other related risks in the Company’s most recent annual report on Form 10-K in the section entitled “Risk Factors”, which may be obtained on the Company’s website, http://www.runwaygrowth.com, or the SEC’s website, http://www.sec.gov.

    IR Contacts:
    Stefan Norbom, Prosek Partners, snorbom@prosek.com
    Thomas B. Raterman, Chief Financial Officer and Chief Operating Officer, tr@runwaygrowth.com

    The MIL Network –

  • MIL-OSI: Sunrun Announces Date for Third Quarter 2024 Earnings Report

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Oct. 08, 2024 (GLOBE NEWSWIRE) — Sunrun (Nasdaq: RUN) today announced that it will issue its third quarter 2024 earnings report after the market closes on Thursday, November 7, 2024.

    A conference call has been scheduled to discuss these earnings results at 1:30 p.m. Pacific Time. The conference call can be accessed live via the Sunrun Investor Relations website at https://investors.sunrun.com or over the phone by dialing (877) 407-5989 (toll-free) or (201) 689-8434 (toll). An audio replay will be available following the call on the Sunrun Investor Relations website for approximately one month. A transcript of the conference call will also be posted to the Sunrun Investor Relations website the following day.

    About Sunrun
    Sunrun Inc. (Nasdaq: RUN) revolutionized the solar industry in 2007 by removing financial barriers and democratizing access to locally-generated, renewable energy. Today, Sunrun is the nation’s leading provider of clean energy as a subscription service, offering residential solar and storage with no upfront costs. Sunrun’s innovative products and solutions can connect homes to the cleanest energy on earth, providing them with energy security, predictability, and peace of mind. Sunrun also manages energy services that benefit communities, utilities, and the electric grid while enhancing customer value. Discover more at http://www.sunrun.com

    Investor & Analyst Contact:

    Patrick Jobin
    SVP, Deputy CFO & Investor Relations Officer
    investors@sunrun.com

    Media Contact:

    Wyatt Semanek
    Director, Corporate Communications
    press@sunrun.com

    The MIL Network –

  • MIL-OSI: Taoshi to Showcase World’s First Decentralized and Fair Proprietary Trading Challenge, Built on Bittensor, at Permissionless III

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Oct. 08, 2024 (GLOBE NEWSWIRE) — Taoshi, a forefront innovator in decentralized finance, will showcase its Proprietary Trading Network (PTN) at the upcoming Permissionless III conference in Salt Lake City, Utah, from October 9 to 11, 2024. Exhibiting at Booth #1433, Taoshi’s Manager of Research and Development, Thomas Dougherty, PhD, will be present to provide insights into the company’s breakthrough tool.

    PTN is the world’s first fair, decentralized proprietary trading challenge. Built on Bittensor, PTN allows traders to compete transparently and earn significantly more than they would with traditional proprietary firms, incentivizing some of the world’s best traders to provide actionable trading insights.

    Taoshi’s PTN sets itself apart from most traditional proprietary trading firms, whose revenue comes from charging entry fees to traders. “When a disproportionate reliance is placed on the entry fees, there is little motivation to ensure long-term success for traders. Ironically, existing profit-sharing models are incentivized by traders failing their challenge period. With PTN, we want to change this,” said Dougherty.

    Taoshi’s mission is to disrupt financial market trading by democratizing access to sophisticated and ever-evolving trading strategies. Taoshi’s PTN is leading the way in innovation through its decentralized AI technology that delivers exceptional advantages for traders.

    About Taoshi:
    Founded in 2023, Taoshi, Inc. is a software company that creates blockchain subnetworks built on Bittensor to revolutionize financial market trading. Taoshi is a trusted leader in the crypto space, celebrated for its innovative solutions and commitment to community impact. Explore how Taoshi is shaping the future of technology at http://www.taoshi.io.

    About Thomas Dougherty, PhD:
    Thomas Dougherty, PhD, is the Manager of Research & Development at Taoshi, where he applies his extensive expertise in machine learning and computer vision to advance financial technology innovation. With a doctorate from Stanford University, he oversees the research and development division, focusing on creating sophisticated trading strategies that balance predictability, risk exposure, and returns while addressing statistical instabilities.

    At Taoshi, Thomas is the primary architect of the SN8 incentive mechanism, a cornerstone of the company’s Proprietary Trading Network (PTN). He spearheaded the development of SN8’s scoring system, which evaluates traders through a comprehensive approach that includes risk-adjusted returns, Sharpe ratio, and Omega ratio.

    About Permissionless:
    Permissionless is a conference for founders, application developers, investors, policymakers, and users. Permissionless III will gather the most influential minds in crypto for three days of networking, engaging content, and live conversations.

    MEDIA CONTACT
    Mairi Morrison
    mairi@prlab.co
    +1 512 731 4977

    The MIL Network –

  • MIL-OSI Europe: Measures adopted following the 19th International Francophonie Summit (5 October 2024)

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

    Following the 19th international summit of La Francophonie [OIF – international Francophone organization], which was held in France for the first time in 33 years, Jean-Noël Barrot, Minister for Europe and Foreign Affairs, and Thani Mohamed-Soilihi, Minister of State for Francophonie and International Partnerships, are announcing a series of measures furthering France’s contribution to raising the international profile of La Francophonie.

    In line with President Macron’s announcements and to reaffirm France’s commitment to raising La Francophonie’s international profile, Jean-Noël Barrot, Minister for Europe and Foreign Affairs, and Thani Mohamed-Soilihi, Minister of State for Francophonie and International Partnerships, are announcing a series of measures.

    Firstly, because the OIF is a space for exchanges fostering the economic prosperity of Francophone peoples, the Minister of State is announcing the creation of an International Francophone Mobility and Employability Programme (PIMEF). The PIMEF is aimed at young people:

    • It networks 1,100 universities and research centres that are members of the Agence universitaire de la Francophonie (AUF) in 120 countries (students, teaching staff, researchers, administrative staff) from all over the world. The AUF, one of the OIF’s four operators, will work throughout this year so that it is gradually rolled out from the start of the academic year 2025-2026. France supports the AUF alongside the OIF.
    • Young French-speaking people from these universities will be able to benefit from mobility programmes geared to professionalization and/or employability.
    • The programme will operate on a principle of reciprocity. Universities and institutions will decide on the number of students to be sent to partner structures, which will be identical to the number of students received.

    Secondly, the Minister of State is announcing the creation of the Volontaires unis pour la Francophonie [volunteers united for La Francophonie] programme. The Francophone world is also a space for cultural and educational development. To promote its attractiveness, the programme will enable 100 young volunteers, nationals from OIF member States, to take part in missions lasting several months in another country of the Francophone world, attached to civil-society organizations and public bodies active as regards educational cooperation, social entrepreneurship and the upholding of La Francophonie’s values.

    As regards the cultural aspect, the Minister of State is next announcing exceptional financial support for the TV5 Monde Maghreb group’s television channel for young people “Tivi 5” making widely accessible an offer of varied, good quality Francophone content for young people in that region and encouraging locally produced content in French for young people, showcasing the diversity of Francophone cultural heritage.

    The Minister of State wishes to reiterate his commitment to promoting the French language as a force for transforming society. France supports the feminist organizations whose activities have a transforming effect on society and public policy. In this respect, two projects have been created to help promote gender equality and the progression of women’s rights.

    • The Alliance féministe francophone [Francophone Feminist Alliance]: to ensure that the French language cannot be an obstacle to the participation, influence and networking of feminist organizations in conveying messages promoting gender equality at the highest level, France is launching the Alliance féministe francophone, in addition to the OIF women’s empowerment programme La Francophonie avec elles. Under this alliance, a consortium of voluntary organizations will be supported to coordinate and finance the participation of feminist organizations at major events and international summits, increase their technical capabilities for representation and negotiation, support their plea for greater funding for the international feminist ecosystem.
    • Alongside Martine Biron, Quebec’s Minister of International Relations and La Francophonie and Minister Responsible for the Status of Women, and Salima Saa, Minister of State for Gender Equality, France is launching a Francophone network for women’s equality and rights.

      This initiative will allow us to offer a space for consultation and coordination, bringing together representatives of States that are members and observers to the OIF – Francophone and non-Francophone – and Francophone States that are not members or observers, with a shared interest in and shared commitment to the promotion of women’s and girls’ rights and gender equality, and advisory bodies for equality between men and women. This network will bring together representatives of civil-society organizations. The initiative will gradually take shape, firstly with a limited number of States at the launch, and will have to take account of the Francophone world’s geographical diversity in its composition.

    Minister of State Thani Mohamed-Soilihi says:

    “This 19th summit has shown us that the Francophone world is resolutely forward-looking.

    “This series of measures is another step forward for an OIF that takes action on the educational, economic and cultural fronts and in terms of gender equality and furthering opportunities for our young people.

    “In a world in crisis, La Francophonie provides a remarkable space for multilateral cooperation, allowing its members to coordinate their vision of the world and be a force for progress and for transforming the world.”

    MIL OSI Europe News –

  • MIL-OSI Global: UN extends Kenyan policing mission in Haiti in futile attempt to tackle gangs

    Source: The Conversation – UK – By Amalendu Misra, Professor of International Politics, Lancaster University

    Haiti is being choked to death by its 200 or so violent criminal gangs. The latest figures to be released by the UN suggest that more than 3,600 people have been killed in the country since January, including over 100 children, while more than 500,000 Haitians have been displaced.

    The situation prompted the country’s unelected prime minister, Ariel Henry, to resign in April. And, two months later, a Kenyan-led policing mission tasked with establishing order was deployed to the Caribbean nation. But the operation has so far struggled to rein in the gangs.

    So, the UN security council unanimously adopted a resolution on September 30 to extend the mandate of the mission for another year. There was consensus that the law-and-order situation in Haiti is still deteriorating by the day.

    The move to extend the mission is, in my opinion, hollow and fails to address the real challenges on the ground. It doesn’t tackle the rampant arms trafficking that is fuelling the violence in Haiti, nor does it secure the funding that will allow the mission to operate effectively.



    Read more:
    How Haiti became a failed state

    Haiti has no firearms or ammunition manufacturing capabilities. Yet the country’s gangs are brutalising the masses with all sorts of sophisticated small arms, including sniper rifles, pump-action shotguns and automatic weapons of every kind.

    All of these weapons originate outside of the island, primarily from the US, but also from neighbouring Dominican Republic and Jamaica. Experts say lax firearm laws in the US states of Arizona, Florida and Georgia have created a sophisticated arms peddling racket into Haiti.

    There is no exact number for how many trafficked firearms are currently in Haiti. But Haiti’s disarmament commission estimated in 2020 that there could be as many as 500,000 small arms in Haiti illegally – a number that is now likely to be even higher. This figure dwarfs the 38,000 registered firearms in the country.

    The effectiveness of the Kenyan operation is also being undermined by gross resource limitations. While the mission was approved by the UN security council, it is not a UN operation and relies on voluntary financial contributions. It was originally promised US$600 million (£458 million) by UN member nations, but it has received only a fraction of that fund.

    According to Human Rights Watch, the mission has so far received a mere US$85 million in contributions through a trust fund set up by the UN. Haiti’s former colonial master, France, and several other G7 countries have not been so forthcoming.

    Inadequate funding has hindered the procurement of advanced weaponry, delayed the payment of police officers’ salaries and has prevented the deployment of more forces on the ground.

    Just 400 Kenyan officers and two dozen policemen from Jamaica have arrived in Haiti so far. This is significantly less than the 2,500 officers pledged initially by various countries including Chad, Benin, Bangladesh and Barbados.

    This financial woe has had a negative impact not only on the morale of Kenyan police officers, but it has also made Haitians despondent. Haitians are increasingly expressing impatience and disappointment with the Kenyan force in the media and online.

    Some critics have accused the officers of being “tourists”, and have pointed out that the gangs have tightened their grip on large swathes of Haiti’s capital, Port-au-Prince, since the mission began.

    The pessimism within Haiti was eloquently highlighted by the country’s interim prime minister, Garry Conille, on September 25. Speaking on the sidelines of the UN General Assembly meet in New York, he confessed: “We are nowhere near winning this, and the simple reality is that we won’t without your help.”

    Advantage gangs

    Finding the Kenyan-led operation a mere irritant, and not a worthy adversary, the gangs have only stepped up the ante. According to a spokesperson for Volker Türk, the UN’s human rights chief, the country’s armed gangs are now doing “everything they can” to maintain control. This has included using sexual assault to instil fear on local populations and expand their influence.

    Some UN member nations, such as the US and Ecuador, have requested that a formal UN peacekeeping mission takes place. And, despite previous peacekeeping operations in the country being marred in controversy, Haiti has asked the UN to consider turning the current operation into a peacekeeping mission.



    Read more:
    Haiti: first Kenyan police arrive to help tackle gang violence – but the prospects for success are slim

    This mission, which would probably include a larger contingent of troops, should not face the same financial constraints as the current operation. It would have greater visibility on the ground, and more fire power and authority to tackle the gangs.

    Past evidence also demonstrates that UN peackeeping missions significantly reduce civilian casualties, shorten conflicts and help make peace agreements stick.

    However, the recent push for a peacekeeping mission was thwarted because of opposition by China and Russia, two of the five permanent veto-wielding members of the UN security council.

    Beijing and Moscow have consistently argued that political conditions in Haiti are “not conducive” to a new UN peacekeeping operation. They have maintained that the current operation “should reach its full operational capacity before discussing such a transformation”.

    Meanwhile, the gangs continue tightening their vice-like grip on the country, with accounts emerging of rampant sexual violence against civilians, the closure of humanitarian corridors, the extension of their territorial control and – of course – even more killings.

    Amalendu Misra is a recipient of Nuffield Foundation and British Academy research grants.

    – ref. UN extends Kenyan policing mission in Haiti in futile attempt to tackle gangs – https://theconversation.com/un-extends-kenyan-policing-mission-in-haiti-in-futile-attempt-to-tackle-gangs-240234

    MIL OSI – Global Reports –

  • MIL-OSI Global: Turkey’s plan to recycle more has made life hard for its informal waste pickers

    Source: The Conversation – UK – By Tulin Dzhengiz, Lecturer in Sustainability, Manchester Metropolitan University

    A waste picker towing his cart through a street in Antalya, Turkey. Evgeny Haritonov/Shutterstock

    Turkey’s 500,000 or so informal waste pickers carry out around 80% of the recycling in the country. These workers, who are also known as çekçekçi, are essential for separating out waste in a country where this is rarely done at source.

    But their lives are precarious. Most of them are unregistered, lack social security, and have no access to basic services such as healthcare. And now they find themselves affected by efforts that formalise Turkey’s waste management system.

    Many of the workers are migrants. But large-scale immigration over recent years, particularly from conflict zones such as Afghanistan and Syria, has contributed to a rise in nationalistic sentiment throughout the country.

    This has seen immigrants – and particularly waste pickers – portrayed in a negative fashion. Waste pickers have, for instance, been labelled “şehir eşkıyası” (urban bandits) by the media. And many people have argued that Turkiye’s informal waste-picking practices should come to an end.

    Yavuz Eroğlu, the president of a non-profit organisation called PAGÇEV that promotes plastic recycling in Turkey, pointed out recently that the country’s “real problem” is its informal waste collection system. In Eroğlu’s view, informal waste picking impedes the effective scaling of recycling initiatives and prevents Turkey from improving its position in the global recycling market.

    Recycling facilities in Turkey require a steady and substantial supply of raw waste materials to function efficiently. But, according to the Turkish Statistics Institution, a mere 12% of the country’s municipal waste was recovered in 2018 – and it is not clear how much of this was actually recycled. This is not nearly enough to keep recycling companies afloat.

    So, in an effort to improve Turkey’s domestic waste management, the Turkish government launched an initiative in 2022 to regulate and formalise waste collection. The legislation requires that local authorities work exclusively with licensed recyclers and registered pickers to sort through and sell waste.

    Resistance movements have subsequently emerged within the çekçekçi community that advocate for the rights and recognition of informal waste pickers in Turkey. These movements have either reinforced the importance of existing waste picker collectives, or led to the creation of new non-profit organisations and cooperatives.

    In Istanbul, for example, the Şişli municipality launched an environmental waste collectors cooperative in 2023 in an attempt to formally integrate informal waste pickers into the municipal waste management system.

    This has involved registering waste pickers, issuing official identification cards, and providing them with access to designated waste collection zones. Similar models have also emerged in different parts of the country. But many of Turkey’s waste pickers remain locked out of the new formal system.

    The framing of informality as the problem is not new, nor is it limited to representatives of Turkey’s plastic recycling industry. In August 2021, the governor of Istanbul’s office ordered a crackdown on informal waste collection activities.

    Police carried out raids on nearly 100 waste collection depots and seized 650 collection carts. More than 200 people were detained in the raids, including 145 Afghan migrants who were sent to a deportation centre.

    The governor’s office justified the action by citing environmental and public health concerns, as well as the unregulated nature of employment in informal waste picking. In a statement, the office argued that unauthorised waste collection leads to unfair profits and announced that inspections would continue.

    Waste workers responded by criticising the governor’s claims and expressed frustration over being labelled as benefiting from unfair profits while living in precarious conditions without social security or a stable income.

    Importing more waste

    In fieldwork carried out between March and April 2024, I spoke with representatives of waste collectors, junk shop owners and waste traders in Istanbul.

    Some reported that there had been a decline in waste-picking rates since the crackdown of 2021. Waste collectors and their representatives expressed concerns that this decline could lead to a further reduction in domestic recycling rates and increase the reliance of recycling facilities on imported waste.

    Turkey is already one of the largest importers of waste from Europe. In 2022, for example, Turkey accounted for 39% of Europe’s waste exports, which included around 400,000 tonnes of plastic.

    Turkiye is a major importer of waste from Europe.
    Sahan Nuhoglu / Shutterstock

    This waste has serious consequences for the environment and human health. A Greenpeace report published in 2022 found that toxins released from Turkey’s plastic waste end up in the fruit and vegetables produced in the Çukurova valley, one of the most fertile valleys in the world.

    A continued decline in domestic waste collection in Turkey would create a vicious cycle. The value of Turkey’s own waste will decrease, further impoverishing informal waste pickers, all while the country’s reliance on imported waste grows to sustain its recycling infrastructure.

    The future of informal waste picking in Turkey remains uncertain. But as the country continues to formalise its waste management system, the challenges facing the sector’s informal workers must not be ignored.

    Tulin Dzhengiz receives funding from Manchester Metropolitan University’s Research Accelarator Grant to carry out this research.

    – ref. Turkey’s plan to recycle more has made life hard for its informal waste pickers – https://theconversation.com/turkeys-plan-to-recycle-more-has-made-life-hard-for-its-informal-waste-pickers-238661

    MIL OSI – Global Reports –

  • MIL-OSI: Ship and Rail Compensation Canada becomes new hub for compensation

    Source: GlobeNewswire (MIL-OSI)

    OTTAWA, Ontario, Oct. 08, 2024 (GLOBE NEWSWIRE) — In a forward-thinking move to increase awareness and strengthen access to justice, the Ship-source Oil Pollution Fund and the Fund for Railway Accidents Involving Designated Goods have merged into a single federal office.

    Ship and Rail Compensation Canada is now Canada’s central hub for anyone affected by oil spills from ships or boats or major railway accidents involving crude oil.

    For years, a lack of awareness of available compensation has prevented many from accessing the support they need. Recent outreach efforts, however, were made to address this issue resulting in increased diversity among claimants and a broader geographic reach.

    Building on this progress, Ship and Rail Compensation Canada will aim to ensure that Canadians know where to turn to for help. This includes collaborating with our partners on how to integrate cost-recovery measures into emergency protocols. With greater access to compensation, those responsible for damages will bear more of the financial burden, not the victims.

    A cornerstone of this initiative is the launch of the new website, designed to be the central point of contact and information for claimants and key stakeholders: http://www.ship-rail.gc.ca.

    Quotes

    “With millions of litres of oil used or transported across Canada by ship, boat, and rail, it’s crucial that Canadians are financially protected from the risks of spills and accidents. We are here to help victims, responders, and anyone else affected receive the financial compensation they need.

    “Our new brand will reach more people than ever before and mitigate the impacts of oil pollution on our cities, towns, oceans, lakes, rivers, and livelihoods. It will significantly boost our outreach and awareness efforts, which are essential to fulfilling our mission of providing compensation and improving emergency preparedness.”

    Mark A.M. Gauthier, Administrator of Ship and Rail Compensation Canada

    About Ship and Rail Compensation Canada

    Ship and Rail Compensation Canada is Canada’s compensation hub for anyone affected by oil spills from ships or boats and by major rail accidents involving crude oil. Its mission is to help victims, responders, and anyone else affected get financial compensation and to hold polluters responsible for damages, losses, and response costs. Ship and Rail Compensation Canada is an independent federal office managing two funds: the Ship Fund and the Rail Fund. It is managed by an Administrator, with each Fund also having a Deputy Administrator.

    For more information or to file a claim, visit ship-rail.gc.ca.

    The MIL Network –

  • MIL-OSI: MoneyHero Enhances Car Insurance Vertical via Strategic Partnership with bolttech

    Source: GlobeNewswire (MIL-OSI)

    MoneyHero to leverage bolttech’s cutting-edge insurance exchange technology to power the Company’s new car insurance platform

    New digital marketplace enhances MoneyHero’s insurance brokerage and conversion expertise, offering a streamlined end-to-end consumer journey across Hong Kong, Singapore and the Philippines

    SINGAPORE, Oct. 08, 2024 (GLOBE NEWSWIRE) — MoneyHero Limited (NASDAQ: MNY) (“MoneyHero” or the “Company”), a leading personal finance and digital insurance brokerage platform in Greater Southeast Asia, today announced the launch of its brand-new car insurance platform through a strategic partnership with bolttech, a global leader in insurtech. This collaboration will transform MoneyHero’s consumer experience for car insurance by integrating bolttech’s cutting-edge insurance exchange technology into the MoneyHero platform. The enhanced marketplace is now live in Hong Kong, with rollouts planned for Singapore by Q4 2024 and the Philippines by the end of Q1 2025.

    Through this strategic partnership, MoneyHero is strengthening its position as a digital insurance leader in the region, combining its expertise in financial product comparison and conversion optimization with bolttech’s innovative insurance capabilities. The new car insurance platform will empower consumers with better insights, broader options, and a more seamless purchase process, setting a new standard for the car insurance industry.

    Rohith Murthy, CEO of MoneyHero, said: “This launch marks a significant milestone for MoneyHero as we expand our car insurance offerings and enhance our capabilities as a leading digital insurance brokerage. By partnering with bolttech, we are not only elevating the user experience but also taking full ownership of the entire car insurance purchase journey—from comparison to conversion—within our ecosystem. This enhanced platform is aligned with our strategic pillars of brokerage excellence and conversion expertise, and it further underscores our commitment to making personal finance and insurance decisions easier for consumers across Greater Southeast Asia.

    “With bolttech’s expertise, we are offering an unmatched level of insight and simplicity that will reshape how consumers choose their car insurance. This partnership strengthens our position as a market leader, and together, we’re setting the stage for the future of digital insurance.”

    Enhanced Platform Benefits and Strategic Alignment

    Leveraging bolttech’s cutting-edge insurance exchange technology, MoneyHero’s car insurance platform offers users a best-in-class experience, including comprehensive comparison tools, accurate pricing references, and a streamlined end-to-end user journey. These features will allow consumers to make more informed and confident decisions about their car insurance, all within a seamless, fully integrated platform.

    Philip Weiner, CEO – Asia & Middle East, bolttech said, “We are thrilled to partner with MoneyHero to create an enhanced customer experience for car insurance across Southeast Asia. By digitally integrating with our insurance exchange platform, we are empowering MoneyHero to offer a seamless and transparent user experience, giving customers greater control and clarity in their car insurance decisions. Together, we look forward to delivering more value-added services to MoneyHero’s customers and driving further innovation in the insurtech space.”

    bolttech, with over 230 insurers and 6,000 products on its platform globally, brings unmatched expertise and market access to this partnership, ensuring that MoneyHero’s customers have access to a wide array of insurance options tailored to their needs.

    Revenue Growth and Strategic Expansion

    MoneyHero’s insurance vertical has been a key driver of growth, contributing 7% to total revenue in 2023 and has grown 89% year-over-over in Q2 2024, contributing to 11% of Group revenues in Q2 2024. The launch of the new car insurance platform is expected to significantly accelerate this growth, as it capitalizes on the increasing demand for digital insurance solutions in Greater Southeast Asia.

    Mr. Murthy added: “Our vertically integrated approach to brokerage, combined with this partnership, positions us to capture a larger share of the car insurance market. Insurance will continue to be a key contributor to our bottom line, driving new customer acquisition across our broader personal finance platform.”

    For more information about MoneyHero, including information for investors and learning about career opportunities, please visit http://www.MoneyHeroGroup.com.

    About MoneyHero Group
    MoneyHero Limited (NASDAQ: MNY) is a market leader in the online personal finance and digital insurance aggregation and comparison sector in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines.  Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory.  The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero currently manages 279 commercial partner relationships and services 8.1 million Monthly Unique Users across its platform for the six months ended June 30, 2024. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving Greater Southeast Asia’s digital economy, please visit http://www.MoneyHeroGroup.com.

    About bolttech
    bolttech is a global insurtech with a mission to build the world’s leading, technology-enabled ecosystem for protection and insurance. bolttech serves customers in more than 35+ markets across four continents, North America, Asia, Europe, and Africa. With a full suite of digital and data-driven capabilities, bolttech powers connections between insurers, distributors, and customers to make it easier and more efficient to buy and sell insurance and protection products.

    For more information, please visit http://www.bolttech.io.

    For MoneyHero inquiries, please contact:

    Investors:
    MoneyHero IR Team
    IR@MoneyHeroGroup.com

    Media:
    Gaffney Bennett PR
    MoneyHero@gbpr.com

    For bolttech inquiries, please contact:
    bolttech Group Communications
    enquiries@bolttech.io

    The MIL Network –

  • MIL-OSI: Awangarda-Marketing Announces Global Live Lead Generation Solutions for Finance, Real Estate, and More – New Offers until End of 2024

    Source: GlobeNewswire (MIL-OSI)

    PIOTRKOWSKA, POLAND, Oct. 08, 2024 (GLOBE NEWSWIRE) — Awangarda-Marketing, a global leader in live lead generation, is redefining how businesses acquire high-quality leads across multiple industries, including finance, investments, insurance, real estate, and cosmetics. With an innovative online service that allows advertisers to buy leads directly in CPA (Cost Per Acquisition) and CPL (Cost Per Lead) models, Awangarda-Marketing ensures that every lead meets strict qualification criteria, providing clients with optimal results and a higher conversion rate.

    Their new offer, available until the end of 2024, includes only live leads that have been pre-qualified through direct calls, guaranteeing high engagement and superior answer rates. To further enhance their commitment to quality, the company is offering up to 10% money back for any invalid numbers, making it a risk-free investment for advertisers worldwide.

    “We prioritize quality and transparency. Our team uses AI smart funnels to ensure lead optimization and the highest possible conversion rates,” said a spokesperson for Awangarda-Marketing. “By leveraging platforms like Facebook, Instagram, YouTube, Taboola, Outbrain, MSN, Bing, and Native, we provide advertisers with the best traffic sources, ensuring that all leads are current, engaged, and ready to convert.”

    As part of its expansion plans, Awangarda-Marketing is continually optimizing its AI-driven lead funnels, offering a suite of tools to track and analyze lead engagement. Their approach combines the latest technological advancements with deep industry knowledge, ensuring that every lead is not only captured but also converted into a valuable customer. For more information on their services and new offers, visit their official website.

    Awangarda-Marketing specializes in live lead generation services for multiple industries, with a focus on delivering high-quality, qualified leads that drive business growth. Their global network and expertise in platforms such as Facebook, Instagram, YouTube, and others make them the go-to partner for businesses seeking reliable lead generation solutions for insurance and finance sectors, for instance, they implement advanced programmatic marketing strategies that allow for precise targeting, ensuring that leads are not only plentiful but also aligned with specific demographic and psychographic profiles. This targeted approach significantly boosts conversion rates, turning prospects into loyal customers.

    In the real estate market, Awangarda-Marketing employs long warm-up funnels, nurturing leads through personalized content and engagement strategies over time. This method creates a strong rapport with potential buyers, leading to increased trust and a higher likelihood of conversion. Similarly, in the cosmetics industry, the focus is on engaging with leads through tailored campaigns that resonate with their beauty preferences and lifestyle choices. By utilizing data-driven insights and effective segmentation, Awangarda-Marketing helps businesses connect meaningfully with their audience, driving higher sales and customer loyalty.

    With a commitment to innovation and results, Awangarda-Marketing continues to set the standard for lead generation across various sectors, making it a strategic partner for businesses aiming to thrive in a competitive landscape.

    Media Contact

    Brand: Awangarda-Marketing

    Contact: George Andris

    Email:  georgea@awangarda-marketing.com

    Website: https://awangarda-marketing.com

    The MIL Network –

  • MIL-OSI Africa: National Basketball Association (NBA) Africa and Opportunity International to Build Basketball Courts and Conduct Youth Clinics in Kenya and Rwanda

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

    NAIROBI, Kenya, October 8, 2024/APO Group/ —

    NBA Africa (https://Africa.NBA.com/) and Opportunity International, a global nonprofit organization that develops innovative programs that use financial services, training and support to address some of the greatest challenges facing those living in poverty around the world, today announced a collaboration to build outdoor basketball courts and conduct youth clinics in Nairobi, Kenya and Kigali, Rwanda next year.  The collaboration will support NBA Africa’s commitment to build 1,000 courts in Africa over the next decade, including 100 in Kenya.

    As part of the collaboration, NBA Africa and Opportunity International will also hold a development program for coaches and teachers in both cities aimed at providing them with skills and best practices in coaching, refereeing, game operations, event management, program administration, and more.

    The announcement was made today by NBA Deputy Commissioner and Chief Operating Officer Mark Tatum, Opportunity International CEO Atul Tandon and five-time NBA champion Derek Fisher at a press conference in Nairobi.

    “Our collaboration with Opportunity International reflects our commitment to investing in local basketball ecosystems across Africa and providing youth with the resources and opportunities to develop their leadership and basketball skills,” said Tatum.  “We look forward to working together to create safe spaces where Kenyan and Rwandan youth can play the game and participate in programs that help develop the next generation of coaches and mentors.”

    “We are absolutely thrilled to work with NBA Africa to bring world-class basketball courts and coaches to Africa,” said Tandon.  “This initiative is key to our longstanding commitment to bring more education and more opportunities to the youth of Africa, and we are grateful to NBA Africa, NBA Deputy Commissioner Tatum, and our longtime friend and partner Sam Garvin for coming together to help build a rising Africa.”

    The Jr. NBA, the league’s global youth basketball participation program for boys and girls, teaches the fundamental skills as well as the core values of the game at the grassroots level in an effort to help grow and improve the youth basketball experience for players, coaches and parents.  Last year, Jr. NBA programming directly reached more than 170,000 youth across Africa.

    MIL OSI Africa –

  • MIL-OSI Canada: Deputy Prime Minister announces new actions to build secondary suites and unlock vacant lands to build more homes

    Source: Government of Canada News

    News release

    October 8, 2024 – Ottawa, Ontario – Department of Finance Canada

    Across Canada, too many properties are underused or vacant—from unused basements, to empty office towers, to vacant lots—and could be used to build more homes. By making it easier for homeowners to add secondary suites to their existing homes, and unlocking vacant lands and underused federal properties for housing, we can build the supply of homes Canada needs to make housing more affordable for every generation.

    Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, alongside the Honourable Jean-Yves Duclos, Minister of Public Services and Procurement, and the Honourable Terry Beech, Minister of Citizens’ Services, announced significant progress in the federal government’s work to unlock more land in our communities for housing.    

    First, the Deputy Prime Minister and Minister of Finance announced technical guidance for lenders and insurers to offer mortgage refinancing for homeowners looking to add secondary suites to their homes, starting January 15, 2025. These mortgage insurance reforms, as well as the forthcoming Canada Secondary Suite Loan Program, will make it easier for homeowners to convert an unused basement into a rental apartment or a garage into a laneway home to increase density in our communities. Secondary suites can help homeowners pay their mortgage with a new rental apartment and bring families closer together. For example, a retired couple may wish to downsize into a new laneway home or in-law suite, so their children could raise their young family in the property’s existing home. More specifically, these changes will:

    • Allow refinancing of insured mortgages for secondary suites, to let homeowners access the equity in their homes to finance the construction of secondary suites. Borrowers will be able to access financing of up to 90 per cent of the home value, including the value added by the secondary suite(s), and amortize the refinanced mortgage over a period of up to 30 years.
    • Increase the mortgage insurance home price limit to $2 million for those refinancing to build a secondary suite, to ensure homeowners can access this refinancing in all housing markets across the country.

    Second, the Deputy Prime Minister and Minister of Finance launched consultations on the taxation of vacant land. The federal government is seeking feedback from provinces, territories, and municipalities that are interested in implementing their own vacant land taxes. By taxing vacant lands, landowners would be incentivized to maximize the full potential of their land—building homes.

    Third, the Minister of Public Services and Procurement announced that an additional 14 underused federal properties have been identified as suitable for building new homes. With these additional federal properties added to the Canada Public Land Bank, a total of 70 federal properties have now been unlocked and are available to homebuilders as of today. This is part of the federal government’s work—as Canada’s largest landowner—to turn unused and underused federal properties into 250,000 new homes.

    The federal government is delivering on its ambitious plan to build 4 million homes by using all tools at its disposal. The actions announced today are about maximizing the use of available land in our communities—turning unused basements, empty lots, and underused federal offices into homes—to build a country where everyone has access to a home they can afford. 

    Quotes

    “We must use every possible tool to build more homes and make housing affordable for every generation of Canadians. That is why we announced the most ambitious housing plan in Canada’s history—a plan to build 4 million new homes. Today, we are taking bold action to deliver on key parts of that plan which will build new homes by making it easier to add a secondary suite to your existing home and making full use of available land in our communities.”

    – The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance

    “Safe, accessible, and affordable housing options are out of reach for far too many Canadians. The launch of the Canada Public Land Bank in August 2024 laid the foundation for our efforts to unlock public lands for housing at a pace and scale not seen in generations. We are delivering on our promise to continue to add more properties to the land bank and meet the deliverables outlined in Budget 2024 to support a new, ambitious Public Lands for Homes Plan. In doing so, we can build strong communities and more affordable housing across the country.”

    – The Honourable Jean-Yves Duclos, Minister of Public Services and Procurement 

    “Our government is unlocking new opportunities for homeownership by building homes on underused public lands, retrofitting federal buildings, and empowering homeowners to construct additional units. Young British Columbians and Canadians across the country face a tougher housing market than the generations before them and our plan will help create more housing options for them and their families.”

    – The Honourable Terry Beech, Minister of Citizens’ Services

    “The measures announced today are another step forward in our work to tackle the housing crisis, build more homes, and ensure that everyone has a safe and affordable place to call their own.”

     

    – The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

    Quick facts

    • Today’s mortgage reforms to make it easier for homeowners to add secondary suites, such as basement apartments, in-law suites, and laneway homes, build on the federal government’s recent announcement of the boldest mortgage reforms in decades to unlock homeownership for every generation of Canadians. Starting December 15, 2024, Canadians will be able to apply for reformed mortgages and benefit from lower monthly payments. These reforms include:

      • Increasing the $1 million price cap for insured mortgages to $1.5 million, to reflect current housing market realities and help more Canadians qualify for a mortgage with a downpayment below 20 per cent. Increasing the insured-mortgage cap—which has not been adjusted since 2012—to $1.5 million will help more Canadians buy a home.
      • Expanding eligibility for 30 year mortgage amortizations to all first-time homebuyers and to all buyers of new builds, to reduce the cost of monthly mortgage payments and help more Canadians buy a home. By helping Canadians buy new builds, including condos, the government is announcing yet another measure to incentivize more new housing construction and tackle the housing shortage. This builds on the Budget 2024 commitment, which came into effect on August 1, 2024, permitting 30 year mortgage amortizations for first-time homebuyers purchasing new builds, including condos.

    • In addition to reforming mortgage insurance rules to make it easier to add secondary suites, the federal government is:

      • Helping families afford to have a grandparent or a family member with a disability move back in if they want to with a new, refundable Multigenerational Home Renovation Tax Credit of up to $7,500, available as of January 1, 2023; and,
      • Launching a new Canada Secondary Suite Loan Program to enable homeowners to access low-interest loans to help with the cost of renovations. More details will be announced before the end of the year.

    • In Budget 2024 and Canada’s Housing Plan, the federal government announced the most ambitious housing plan—a plan which will build nearly 4 million homes by 2031. This plan takes a whole-of-government approach to addressing the housing crisis by building more homes, making it easier to rent or own a home, and helping Canadians who cannot afford a home.

      • A key component of Canada’s Housing Plan is the Public Lands for Homes Plan, which will build 250,000 new homes by partnering with all order of government, homebuilders, and housing providers to build homes on surplus and underused public lands, such as unused federal offices, across the country.
      • Budget 2024 provided $500 million to launch the new Public Lands Acquisition Fund, which will buy land from other orders of government to allow the federal government to acquire more land to be used for housing to help build middle-class homes. Work on the fund is already underway, and more details will be released in the coming weeks. 

    • The 14 federal properties added today to the Canada Public Land Bank are located in:

      • Vernon, British Columbia;
      • Ottawa, Ontario;
      • Gatineau, Quebec;
      • Québec City, Quebec;
      • Cape Breton, Nova Scotia; and,
      • St. John’s, Newfoundland and Labrador.

    • Provinces, territories, and municipalities that choose to implement vacant land taxes would be incentivized to design these taxes around a core tax base of land that is:

      • Vacant;
      • Residentially (or mixed-use) zoned;
      • Serviceable by municipal infrastructure (e.g., roads, water, sewage, and electricity); and,
      • Physically developable (e.g., appropriate lot size, no site contamination).

    • Applying specialized taxes on vacant land would be intended to:

      • Encourage the development of land into housing rather than leaving it idle;
      • Discourage speculative holding of land by making it more costly to keep land undeveloped; and,
      • Provide a source of revenue, which could potentially be used to fund further investments to build more homes.

    Associated links

    Contacts

    Media may contact:

    Katherine Cuplinskas
    Deputy Director of Communications
    Office of the Deputy Prime Minister and Minister of Finance
    Katherine.Cuplinskas@fin.gc.ca

    Media Relations
    Department of Finance Canada
    mediare@fin.gc.ca
    613-369-4000

    General enquiries:

    Phone: 1-833-712-2292
    TTY: 613-369-3230
    E-mail: financepublic-financepublique@fin.gc.ca

    Stay Connected

    MIL OSI Canada News –