NewzIntel.com

Category: Economy

  • MIL-OSI United Kingdom: Two new School Streets launched in Leeds to support children travelling safely and sustainably on the school run

    Source: City of Leeds

    More than 200 pupils in Leeds have become the latest local youngsters to benefit from a scheme that makes journeys to and from school safer, healthier and more enjoyable. 

    School Streets create a safer and more pleasant environment for children and families by restricting motorised traffic and turning the space outside school gates into a pedestrian and cyclist-only zone during pick-up and drop-off times. 

    A total of 15 schools in Leeds have previously signed up to the scheme, which aims to ease traffic congestion and tackle poor air quality while also improving safety.  

    Now two more – Ireland Wood Primary and St Bartholomew’s Primary – have followed suit. 

    And last week, a celebration event was held at Ireland Wood Primary School to mark the introduction of its new School Street on Raynel Gardens. 

    Leeds City Council’s new safe and sustainable travel mascot, Arlo the Owl, named by pupils from the school, guided pupils from the Park and Stride location at High Farm car park, across the new School Street, showcasing the benefits of a vehicle-free environment.  

    Councillor Jonathan Pryor, Leeds City Council’s deputy leader and executive member for economy, transport and sustainable development, said: 

    “I’m thrilled to see two more schools joining the School Streets programme in Leeds this year, as it continues to make a significant difference in promoting road safety and sustainability in local communities. With just over 30%  of primary school children in Leeds still driven to school, the school run contributes to congestion, pollution, and increased road safety risks around schools. 

    “School Streets are a key part of our commitment to Vision Zero, the council’s ambition to eliminate serious and fatal road injuries by 2040. By creating safer, vehicle-free spaces, we’re making the journey to school healthier for children and their families. This initiative aligns with our vision of making Leeds a city where you don’t need a car.” 

    Ian Blackburn, Headteacher at Ireland Wood Primary School, said: 

    “We are really pleased to have a School Street so our pupils can travel safely and actively to and from school. 

    “Reducing traffic around school during peak times will help to improve road safety and encourage more families to choose active modes of travel like walking, cycling, wheeling and scooting. This initiative supports us to promote healthy lifestyles and foster independence for our pupils.”  

    Last year, 28,955 school children across Leeds participated in 596 sessions that the council’s road safety trainers delivered to promote safe and sustainable travel.  

    Safe behaviours and people are at the heart of the Vision Zero Strategy and is one of five key themes. The other themes are safe roads, safe speeds, post collision care and safe vehicles. To achieve Vision Zero everyone needs to play their part and travel safely. A pledge to play a part in eliminating road deaths can be signed here.  

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Households and non-financial corporations in the euro area: second quarter of 2024

    Source: European Central Bank

    4 October 2024

    • Households’ financial investment increased at higher annual rate of 2.1% in second quarter of 2024, after 1.9% in previous quarter
    • Non-financial corporations’ financing grew at higher annual rate of 1.0% (after 0.8%)
    • Non-financial corporations’ gross operating surplus decreased more slowly at annual rate of ‑3.5% (after -4.2%)

    Chart 1

    Household financing and financial and non-financial investment

    (annual growth rates)

    Sources: ECB and Eurostat.

    Data for household financing and financial and non-financial investment

    Chart 2

    NFC gross-operating surplus, non-financial investment and financing

    (annual growth rates)

    Source: ECB and Eurostat.

    Data for NFC gross-operating surplus, non-financial investment and financing

    Households

    Household gross disposable income increased in second quarter of 2024 at a lower annual rate of 4.8%, after 6.1% in the first quarter of 2024. The compensation of employees grew at a lower rate of 5.5% (after 6.0%), and gross operating surplus and mixed income of the self-employed increased at a lower rate of 4.6% (after 5.9%). Household consumption expenditure grew at a lower rate of 3.1% (after 4.2%).

    The household gross saving rate increased to 14.9% in the second quarter of 2024, compared with 14.5% in the previous quarter.

    Household gross non-financial investment (which refers mainly to housing) decreased at a lower annual rate of -1.7% in the second quarter of 2024 (after -3.2% ). Loans to households, the main component of household financing, increased at an unchanged rate of 0.5%.

    Household financial investment increased at a higher annual rate of 2.1% in the four quarters to the second quarter of 2024, after 1.9% in the four quarters to the first quarter of 2024. Among its components, currency and deposits grew at a higher rate of 2.3% (after 1.5%), while investment in debt securities increased at a lower rate (28.1% after 40.2%). Investment in shares and other equity grew at a higher rate of 0.3% (after 0.0%). This was due to unlisted shares and other equity decreasing more slowly (-0.3% after -0.9%), while investment fund shares grew at a broadly unchanged rate (1.9%). Investment in listed shares decreased faster (-0.9% after -0.6%). Life insurance decreased at a broadly unchanged rate (-0.2%) and pension schemes grew at a lower rate (2.2% after 2.4%).

    Household net worth increased at an annual rate of 2.8% in the second quarter of 2024, after 2.1% in the previous quarter. Net financial and non-financial assets grew due to valuation gains in addition to investments. Housing wealth, the main component of non-financial assets, increased (0.5%) after decreasing in the previous quarter (-1.3%). The household debt-to-income ratio decreased to 83.1% in the second quarter of 2024 from 87.5% in the second quarter of 2023.

    Non-financial corporations

    Net value added by NFCs grew at a higher annual rate of 1.6% in the second quarter of 2024 (after 1.2% in the previous quarter). The negative growth rate of gross operating surplus decreased (-3.5% after -4.2%), while the growth rate of net property income – defined in this context as property income receivable minus interest and rent payable – increased (4.2% after 0.7%). As a result gross entrepreneurial income (broadly equivalent to cash flow) decreased at a lower rate of -1.3% (after ‑3.7%).[1]

    NFCs’ gross non-financial investment decreased at a faster annual rate of -7.0% (after -5.8% in the previous quarter).[2] NFCs’ financial investment grew at a higher rate of 2.2% (after 1.9%) in the four quarters to the second quarter of 2024. Among its components, currency and deposits grew at a higher rate (2.5% after 0.4%), while loans granted increased at a lower rate (3.8% after 4.2%). Investment in shares and other equity grew at an unchanged rate of 1.6%.

    Financing of NFCs increased at a higher annual rate of 1.0% (after 0.8%), as financing via debt securities (3.1% after 2.2%), shares and other equity (0.8% after 0.4%) and trade credits (2.1% after 0.4%) all grew at higher rates. Loan financing grew at a lower rate of 0.8% (after 1.2%).[3]

    NFCs’ debt-to-GDP ratio (consolidated measure) decreased to 66.7% in the second quarter of 2024, from 69.2% in the same quarter of the previous year; the non-consolidated, wider debt measure decreased to 128.2% from 131.3%.

    For queries, please use the Statistical information request form.

    Notes

    • This statistical release incorporates revisions to the data since the first quarter of 2020.
    • Revisions of the entire time series may be more pronounced in this and the following release as in 2024 EU countries implement a benchmark revision in national accounts statistics. For further information see also: https://ec.europa.eu/eurostat/web/esa-2010/data-revision.
    • The annual growth rate of non-financial transactions and of outstanding assets and liabilities (stocks) is calculated as the percentage change between the value for a given quarter and that value recorded four quarters earlier. The annual growth rates used for financial transactions refer to the total value of transactions during the year in relation to the outstanding stock a year before.
    • The euro area and national financial accounts data of non-financial corporations and households are available in an interactive dashboard.
    • Hyperlinks in the main body of the statistical release are dynamic. The data they lead to may therefore change with subsequent data releases as a result of revisions. Figures shown in annex tables are a snapshot of the data as at the time of the current release.
    • The ECB publishes experimental Distributional Wealth Accounts (DWA), which provide additional breakdowns for the household sector. The release of results for 2024 Q2 is planned for 29 November 2024 (tentative date).

    MIL OSI Economics –

  • MIL-OSI Russia: “I dream that all universities in Russia would have the same conditions for scientists as HSE”

    MILES AXLE Translation. Region: Russian Federation –

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

    Anastasia Sherubneva studies spatial economics and is writing a dissertation on the crises of 2020 and 2022. In an interview with the Young Scientists of HSE project, she spoke about the influence of agglomeration effects on enterprises, the Novosibirsk Akademgorodok, and a meeting with Nobel laureate Paul Krugman in Portugal.

    How I got started in science

    Since childhood, I liked creativity. I always came up with something new, tried to find non-standard solutions to problems. In the 10th grade, I took a six-month course in economics, and I liked that real processes are described by clear mathematical models.

    After school, I entered NSU to major in business informatics, where they study, on the one hand, economics, and on the other, programming. My favorite course in the first year of study was microeconomics. Our seminars on it were taught by Elizaveta Andreyevna Gaivoronskaya. She was then about the same age as I am now, and was passionate about science. She explained things in an interesting way, and I inherited her desire to do economic research.

    From my first year, I started thinking about how I could apply what we were taught in lectures and seminars, what I would do after graduating. I started planning a scientific career.

    NSU is located in Akademgorodok, where several dozen research institutes are located. In my third year, I was invited to work in the Department of Territorial Systems of the Institute of Economics and Industrial Engineering of the Siberian Branch of the Russian Academy of Sciences. I began to study regional economics under the supervision of Evgeniya Anatolyevna Kolomak. At the same time, my programming skills helped me work with real data. The institute had a great team, the seniors always supported the juniors. There was a Council of Young Scientists, we came up with activities, organized conferences, and could just go for a walk together.

    After working there for two years, I entered the Higher School of Economics and got into a single track “master’s degree – postgraduate study”. My academic supervisor was Olga Anatolyevna DemidovaShe works in spatial econometrics, and our research interests coincided.

    When I was in my second year of master’s degree, Olga Anatolyevna created the Scientific and Educational Laboratory of Spatial-Econometric Modeling of Socioeconomic Processes in Russia. I ended up in this laboratory. Now I am a postgraduate student, working under the supervision of Olga Anatolyevna on my PhD dissertation. Here, too, a wonderful scientific team has formed, and I am very glad that I went into science.

    What I am researching

    My area of research is spatial economics. Globally, this section of economics studies how the economic position of an entity depends on its geographical location.

    In my dissertation, I study the impact of macroeconomic shocks on the performance of Russian enterprises using the 2020 and 2022 crises as examples. I examine whether the impact of these shocks differed across enterprises located in different locations, both in different regions and within one, for example, in the capital and on the periphery.

    And while many researchers conduct interregional comparisons, few study spatial differences at the intraregional level. This is the main novelty of my research.

    I am currently finishing my research on the 2020 crisis and will be working on the 2022 crisis in graduate school.

    What business data do I use?

    I work with micro data, and I have the ability to build models at the enterprise level. I am currently using data from the SPARK database: financial statements of enterprises, their geographic location, individual characteristics.

    What I wanted to know

    I asked the question this way: how did the influence of various factors, in particular geographic location, on the efficiency of enterprises change during the crises of 2020 and 2022?

    Existing studies have shown that the differentiation of the COVID-19 crisis was mainly not regional, but sectoral. The sectors that suffered were those related to offline interaction: tourism, transport, hotels, and catering. This primarily concerned the regions where they are more represented. Another important factor was the state of medicine. In poor regions, quarantine measures were stricter because the medical system could not cope, and the economy began to decline. And regions where digitalization is developed, everyone has smartphones, experience using deliveries, good healthcare, survived the crisis easier.

    However, within a region, the effects of crises can also vary, and this is precisely the aspect I am exploring.

    My conclusions

    I studied how the financial performance of enterprises depends on similar performance of neighboring enterprises. Let’s say there is an enterprise, its neighbor has gone bad, the company closes or goes into the red. What happens to it? It is assumed that nearby enterprises interact with each other. I came to the conclusion that before the 2020 crisis, the financial condition of the enterprise had a positive impact on neighboring ones and during the crisis too, but this impact became weaker. The explanation here is obvious: offline interaction decreased during the pandemic, and this was confirmed by microdata using mathematical methods.

    Another interesting result describes the influence of agglomeration effects on the performance of enterprises depending on their location – in the city center, where there are many other enterprises and a high population density, or on the outskirts, where there is nothing.

    In general, agglomeration effects are beneficial for enterprises in Russia. But if we approach large agglomerations such as Moscow, St. Petersburg, Kazan, the influence of agglomeration effects becomes negative. This is true both during and outside of a crisis. Big city effects (traffic jams, inflated prices, etc.) hinder the work of enterprises. These results indicate that large Russian agglomerations are heavily overloaded.

    What I am proud of

    In July, I published my independent article in the American journal Regional Science Policy

    I recently attended a conference of the European Regional Science Association in Portugal and gave a talk there. I mentioned that I used the HSE supercomputer in my research. And the discussant in my section said that it was great that I was able to use the supercomputer for such purposes and get new results.

    What is the HSE supercomputer?

    A supercomputer is a system of clusters between which computational processes can be distributed. It has a huge operational memory, which is measured in terabytes, and if calculations are parallelized between cores, it is possible to make cumbersome calculations.

    Using the HSE supercomputer allowed me to work with data from enterprises all over Russia, my sample included 300 thousand enterprises. I used a geographically weighted regression model, and for this you need to calculate pairwise distances between all enterprises, which requires enormous computing power.

    What I dream about

    I want to conduct a study on how enterprises in different industries influence each other geographically. For example, if a cinema and a cafe are located nearby, then most likely they will influence each other positively. But if it is a chemical plant and an eco-farm, it is clear that the mutual influence will be negative. This study requires certain data that is not yet available.

    For me, science is a way to learn something globally new and share it with others, to understand how this result relates to the results of other studies.

    I dream that all universities and research institutes in Russia would have the same comfortable conditions for scientists as HSE. If we talk about young scientists, there is a single track “Master’s degree – postgraduate study” with a large stipend. Postgraduate students are not forced, as happens in other organizations, to look for part-time jobs and can focus on writing a dissertation. HSE offers bonuses for publications, and there is an additional incentive to publish in high-level journals. Here, scientists receive a decent salary and are motivated to work for the benefit of science.

    If I hadn’t become a scientist

    I would become a human rights activist because justice has always been the highest value for me. Even at school I was interested in law, in any unclear situation I read the laws and in the 11th grade I became a prize winner of the regional stage of the All-Russian School Olympiad.

    Which scientist would I like to meet?

    If we talk about living scientists, it is Paul Krugman, the 2008 Nobel laureate in economics. He also studies regional economics, we are in the same field. I like his concept of new economic geography – it is a pool of theoretical models that explains the emergence of agglomerations from an economic point of view. This year at the congress in Portugal I met him, I even have a photo with Paul.

    If we talk about those who are no longer alive, it would be Marie Sklodowska-Curie. A great scientist, the first woman to win the Nobel Prize, the first person to have two Nobel Prizes, and the only one to have these prizes in different sciences.

    I admire her for being so enthusiastic about her work, for overcoming obstacles all her life for the sake of science. The University of Warsaw in her native Poland did not accept women at the time, so she went to study in Paris. She was not accepted as a teacher or in a laboratory simply because she was a woman. Her colleagues did not recognize her achievements, even when she received her first Nobel Prize. At the same time, she worked with radioactive substances that were dangerous to health, and was one of the inventors of the X-ray machine, which saved many lives. I would like to ask her where she found the strength for this daily struggle.

    I often think about her now, when they are trying to return women to the kitchen again and deputies are talking about how women do not need an education, but rather need to give birth to five children.

    What my typical day looks like

    Basically, different combinations of work tasks. A significant part of my work consists of doing calculations, programming, writing articles, texts. In addition, I recently became a teacher, conducting seminars in English on the course “Mathematics for Economists” in my own master’s program, which I completed this year.

    Do I get burnout?

    I have not encountered burnout yet. My total scientific and pedagogical experience is about four years. And it is probably too early to talk about burnout, especially since I love my job. It is clear that there are more productive days, less productive days, but I try not to allow burnout. I arrange rest days when I do not think about work, walk in the fresh air, listen to music, read books, watch movies. I also like to ride a bike and swim.

    What am I interested in besides science?

    I like making memes. It helps me cope with life stress, because turning something into a joke is a kind of psychotherapy. The Institute of Economics has a group of the Council of Young Scientists on VKontakte. When I was a 4th-year undergraduate, I became one of the admins of this group, ran a section and published memes about our work and the institute.

    Now I have a Telegram channel “Nastya Sherubneva in …”, but I have become less likely to make memes. It is more dedicated to trips to conferences. I started it when I went to the European Regional Science Association (ERSA) conference in Spain a year ago. It was my first trip abroad, not counting Belarus, I was happy and wanted to document every second. At first, the channel was planned only for friends, but I thought that someone else might be interested, so I made it open access. Every time I go to a new place, I rename it.

    What was the last thing I read and watched?

    From books – “1984” by George Orwell. And from films – “Don’t Worry, Darling” by Olivia Wilde. A married couple lives in a small closed town, they have an ideal life, they are rich, they love each other. But at some point the wife notices that something is wrong, people are disappearing, and as a result she finds out that their whole life is a simulation. She got there thanks to her husband, who himself wanted to get rid of unbearable experiences and save her. The film raises the question of whether such a simulation is a way out, whether it is possible to pretend that everything is wonderful, to invent an imaginary world. And even more so to be a victim of someone else’s decision. I believe that a person should decide for himself, I am against lies and restrictions for the good.

    Advice to young scientists

    Start writing your own articles as early as possible. You don’t need to become a teaching assistant or do technical work, because later it will be hard to start writing articles, working with texts, and creating literature reviews. You also need to try to decide on a scientific direction as early as possible, to understand what undeveloped problems exist in this area. A good scientific supervisor who is interested in the student and sees the trajectory of his development can help you do this.

    Favorite place in Moscow

    Museum-Reserve “Tsaritsyno”. This place has a great history, but I also like it because it is a park-estate. Akademgorodok, where I used to live, is in the forest, and in Moscow I miss forest walks. But in Tsaritsyno it is green and you can walk.

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

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

    http://vvv.hse.ru/jung-scientists/sherubneva

    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: Antidote Announces $100M for Community Building and User Rewards

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, Oct. 04, 2024 (GLOBE NEWSWIRE) — The Antidote platform, known for its innovative solutions in the field of investment strategies, has announced the distribution of $100 million to its users. This step is aimed at supporting hundreds of thousands of people worldwide and providing access to the most advanced arbitrage technologies.

    Alex Miron, co-founder, Vice President, and CVO of Antidote, who launched the platform in November 2023, comments on this initiative: “We have chosen a strategy where each user may earn up to 1% in daily returns. This result is achieved thanks to our arbitrage bot, which automatically analyzes numerous exchanges, identifying price discrepancies, and executes trades with maximum speed.” $100 million will be distributed among users who have joined the community and actively participate by investing any amount. Thus, all participants will receive higher return percentages, supplemented by bonuses for contributing to the development of the algorithm.

    However, as the company’s capitalization grows to $500 million, Antidote plans to gradually reduce the estimated yield percentages to 5-10% per month, maintaining high profitability while adapting to market conditions. “We are focused on long-term sustainable growth. Our goal is to offer stable and secure returns based on real arbitrage market opportunities,” adds Alex Miron.

    The Antidote technology relies on powerful algorithms that monitor millions of data points in real-time, automatically executing trades as soon as an opportunity arises to profit from price differences on different exchanges. This technological process makes the platform one of the most competitive in the world.

    Antidote is headquartered in Dubai and adheres to all international safety standards and regulatory requirements. It is encouraging that regulators are facilitating the global operation of cryptocurrency, thereby providing opportunities for a broad audience. (Please note: Antidote does not operate within the United States and does not accept investments from American citizens, nor from entities listed on the FATF blacklist.)

    One of the company’s partners, ByBit, provided the meeting and negotiation office in Dubai. Understanding that we are all working towards a common goal – educating the public on financial literacy and cryptocurrency – this collaboration was the right strategic move for Antidote.

    Recently, the company attracted the attention of international media, including Nasdaq TV, where the company’s successes and plans were discussed. The interview was conducted by Nasdaq’s leading journalist, Jane King, which is already a unique event for startups. Usually, journalists interview only stars and large corporations. It seems we are indeed witnessing the rise of a new unicorn in the financial market.

    In addition to its arbitrage opportunities, Antidote is developing initiatives in financial literacy, including educational projects in BRICS countries. These programs are aimed at giving people access to modern financial tools and helping them improve their financial well-being.

    Social Links

    Facebook: https://www.facebook.com/antidoteoffcl

    X: https://x.com/Antidote_Offcl

    Instagram: https://www.instagram.com/antidote_offcl

    YouTube: https://www.youtube.com/@Antidote_Official

    Telegram: https://t.me/+FLAkKOsvfXplZmU1?start=2jhq4cv

    Media contact

    Brand: Antidote

    Contact: Media contact

    Email: support@antidt.com

    Website: https://iamantidote.com

    The MIL Network –

  • MIL-OSI Economics: Euro area quarterly balance of payments and international investment position: second quarter of 2024

    Source: European Central Bank

    04 October 2024

    • Current account surplus at €381 billion (2.6% of euro area GDP) in four quarters to second quarter of 2024, after a €76 billion surplus (0.5% of GDP) a year earlier.
    • Geographical counterparts: largest bilateral current account surpluses vis-à-vis United Kingdom (€215 billion) and Switzerland (€79 billion) and largest deficits vis-à-vis China (€78 billion) and United States (€18 billion).
    • International investment position showed net assets of €1.2 trillion (8.0% of euro area GDP) at end of second quarter of 2024.

    Current account

    The current account of the euro area recorded a surplus of €381 billion (2.6% of euro area GDP) in the four quarters to the second quarter of 2024, following a €76 billion surplus (0.5% of GDP) a year earlier (Table 1). This development was mainly driven by a larger surplus for goods (from €72 billion to €358 billion) and, to a lesser extent, by widening surpluses for services (from €134 billion to €149 billion) and for primary income (from €34 billion to €37 billion). Moreover, the deficit for secondary income decreased slightly from €164 billion to €163 billion.

    The estimates on goods trade broken down by product group show that, in the four quarters to the second quarter of 2024, the increase in the goods surplus was mainly due to a smaller deficit in energy products (from €454 billion to €275 billion). In addition, the surplus for machinery and manufactured products increased from €240 billion to €318 billion, while the balance for other products switched from a €28 billion deficit to a €2 billion surplus.

    The higher surplus for services in the four quarters to the second quarter of 2024 was mainly due to larger surpluses for telecommunication, computer and information (from €159 billion to €184 billion) and for travel (from €47 billion to €57 billion), and a lower deficit for other business services (from €54 billion to €42 billion). This was partly offset by a widening deficit for other services (from €55 billion to €75 billion) and a decreasing surplus for transport (from €16 billion to €1 billion).

    The increase in the primary income surplus in the four quarters to the second quarter of 2024 was mainly due to larger surpluses in direct investment (from €73 billion to €100 billion) and other primary income (from €5 billion to €14 billion), partly offset by a larger deficit in portfolio equity (from €143 billion to €182 billion).

    Table 1

    Current account of the euro area

    (EUR billions, unless otherwise indicated; transactions during the period; non-working day and non-seasonally adjusted)

    Source: ECB.
    Notes: “Equity” comprises equity and investment fund shares. Goods by product group is an estimated breakdown using a method based on statistics on international trade in goods. Discrepancies between totals and their components may arise from rounding.

    Data for the current account of the euro area

    Data on the geographical counterparts of the euro area current account (Chart 1) show that in the four quarters to the second quarter of 2024, the euro area recorded its largest bilateral surpluses vis-à-vis the United Kingdom (€215 billion, up from €184 billion a year earlier) and Switzerland (€79 billion, down from €89 billion). The euro area also recorded a surplus vis-à-vis the residual group of other countries of €96 billion, after a €21 billion deficit a year earlier. The largest bilateral deficits were recorded vis-à-vis China (€78 billion, down from €135 billion a year earlier) and the United States (€18 billion, down from €32 billion).

    The most significant changes in the geographical components of the current account relative to the previous year were as follows: the goods deficit vis-à-vis China declined from €166 billion to €105 billion, while the balance vis-à-vis Russia shifted from a deficit (€41 billion) to a surplus (€3 billion). Furthermore, the balance vis-à-vis the residual group of Other countries shifted from a deficit (€104 billion) to a surplus (€39 billion), which was partly explained by a smaller deficit vis-à-vis Norway (from €39 billion to €21 billion) and a shift from a deficit (€6 billion) to a surplus (€5 billion) vis-à-vis Saudi Arabia. The goods surplus increased vis-à-vis the United Kingdom (from €116 billion to €148 billion) and vis-à-vis the United States (from €169 billion to €191 billion). In services, the deficit vis-à-vis the United States increased (from €117 billion to €141 billion), which was more than offset by a shift from a deficit (€15 billion) to a surplus (€18 billion) vis-à-vis Offshore centres. In primary income, the deficit vis-à-vis Offshore centres (€11 billion) turned to a surplus (€21 billion), while a smaller deficit is recorded vis-à-vis the United States (from €82 billion to €67 billion). The deficit in secondary income vis-à-vis the EU Member States and EU institutions outside the euro area decreased (from €77 billion to €71 billion).

    Chart 1

    Geographical breakdown of the euro area current account balance

    (four-quarter moving sums in EUR billions; non-seasonally adjusted)

    Source: ECB.
    Note: “EU non-EA” comprises the non-euro area EU Member States and those EU institutions and bodies that are considered for statistical purposes as being outside the euro area, such as the European Commission and the European Investment Bank. “Other countries” includes all countries and country groups not shown in the chart, as well as unallocated transactions.

    international investment position of the euro area recorded its largest net assets on record, increasing to €1.18 trillion vis-à-vis the rest of the world (8.0% of euro area GDP), up from €0.76 trillion in the previous quarter (Chart 2 and Table 2).

    Chart 2

    Net international investment position of the euro area

    (net amounts outstanding at the end of the period as a percentage of four-quarter moving sums of GDP)

    Source: ECB.

    The €423 billion increase in net assets was mainly driven by lower net liabilities in other investment (down from €0.76 trillion to €0.63 trillion) and in portfolio equity (from €3.31 trillion to €3.19 trillion), as well as larger net assets in direct investment (up from €2.41 trillion to €2.52 trillion) and in reserve assets (up from €1.22 trillion to €1.27 trillion).

    Table 2

    International investment position of the euro area

    (EUR billions, unless otherwise indicated; amounts outstanding at the end of the period, flows during the period; non-working day and non-seasonally adjusted)

    Source: ECB.
    Notes: “Equity” comprises equity and investment fund shares. Net financial derivatives are reported under assets. “Other volume changes” mainly reflect reclassifications and data enhancements. Discrepancies between totals and their components may arise from rounding.

    Note: “Other volume changes” mainly reflect reclassifications and data enhancements. 

    MIL OSI Economics –

  • MIL-OSI: Biz2Credit to Host “Small Business, Inflation, and the Economy in 2024” Online Town Hall on Tuesday, Oct. 8, with U.S. Representatives Nick LaLota (R-NY) and Sylvia Garcia (D-TX)

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 04, 2024 (GLOBE NEWSWIRE) — Biz2Credit will host U.S. Representatives Nick LaLota (R, NY-01) and Sylvia Garcia (D, TX-29) to discuss the state of the small business economy in 2024 and the actions that Congress is taking to support business owners. The virtual forum will take place on Tuesday, October 8, at 2:00 p.m. (EDT) and will explore topics including:

    • Challenges for small business owners in 2024 and looking into 2025.
    • Initiatives the Federal government is considering next that may provide further economic support to American small businesses.
    • How a President Harris or President Trump will address small business issues.
    • Preparing for what’s coming next with Biz2Credit’s review of business financing options as 2024 closes and amid the recent interest rate cut by the Federal Reserve.
    • Biz2Credit’s research and insights on primary data from small business owners.

    This online forum will give business owners a chance to hear from Rep. LaLota, a member of the House Committee on Small Business, and Rep. Garcia, who has helped provide crucial aid to Texas small businesses. They will discuss the small business environment in their districts, provide insights on how the Federal government and private industry are collaborating to help entrepreneurs, and respond to questions from constituents and business owners. To register for this event, click here.

    “We are thrilled to have Rep. LaLota and Rep. Garcia join our online Town Hall and discuss their positions on small business, the current economic environments in their home districts, and how Washington can best support entrepreneurial growth,” said Rohit Arora, CEO of Biz2Credit and one of the nation’s leading experts in small business finance.

    U.S. Representative Nick LaLota (R, NY-01) was sworn into office in January 2023. Inspired by his family’s history of service, he graduated from the U.S. Naval Academy and reached the rank of Lieutenant. Later, he earned his MBA at Hofstra University’s Zarb School of Business and his J.D. from Hofstra’s Maurice A. Deane School of Law. As a member of the Amityville Board of Trustees, he focused on reducing taxes and improving services. Today, in Congress, he advocates for lower taxes, energy independence, and the protection of constitutional freedoms. As a member of the House Committee on Small Business, he serves as chair of the Subcommittee on Contracting and Infrastructure and is a member of the Subcommittee on Economic Growth, Tax, and Capital Access.

    “I’m excited to join the Biz2Credit Small Business Town Hall to tackle the challenges and opportunities our small businesses face,” said Rep. LaLota. “As a proud member of the House Small Business Committee, I know just how crucial these businesses are to our economy. I’ll keep pushing for policies that strengthen small businesses as the backbone of America!”

    U.S. Representative Sylvia R. Garcia (D, TX-29) was sworn into Congress in January 2019 and thereby became the first Latina to represent Texas in her district. She graduated from Texas Woman’s University with a degree in social work and political science, and later graduated from the Thurgood Marshall School of Law at Texas Southern University. Rep. Garcia has served as a social worker and a legal aid lawyer and later as Presiding Judge of the Houston Municipal System, Houston City Controller, and Harris County Commissioner. After serving in the Texas State Senate, she was elected to represent Texas’s 29th Congressional District 29 and became the first Hispanic member of the Houston Congressional Delegation and one of the first two Latinas to represent Texas in the Congress. She has long been an advocate for working families and economic development.

    “Small businesses are the backbone of our communities and the start of so many American Dreams. Women and minority entrepreneurs, especially in the Latino community, have been driving our recovery with strength and resilience,” said Rep. Garcia, who serves as the Vice Ranking Member of the House Financial Services Committee. “It’s our job in Congress to ensure they have the tools and resources to keep thriving. I’m excited to join Rep. LaLota and Biz2Credit to talk about how we can make that happen.”

    About Biz2Credit
    Founded in 2007, Biz2Credit has helped thousands of companies access more than $10 billion in small business financing. The company is expanding its industry-leading Biz2X® technology in custom digital platform solutions for banks and other financial institutions, investors, and service providers. Visit http://www.biz2credit.com, Instagram, Facebook, and X (formerly Twitter).

    Media Contact: John Mooney, (908) 720-6057, john@overthemoonpr.com

    The MIL Network –

  • MIL-OSI: Beneficient Appoints Patrick J. Donegan to Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Oct. 04, 2024 (GLOBE NEWSWIRE) — Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled financial services holding company, today announced the appointment of Patrick J. Donegan as an independent member of the Company’s Board of Directors as of September 30, 2024. In addition to being an independent director, he was appointed to serve on the Audit, Products and Related Party Transactions, Credit and Enterprise Risk committees of the Board.

    Mr. Donegan brings almost thirty years of compliance, legal, banking and capital markets experience to Ben, having held various senior compliance positions, including as Chief Compliance Officer, for bank holding companies and broker dealers and as Assistant General Counsel for a securities company. Over the course of his career, Mr. Donegan has attained eleven FINRA licenses and two certifications from the American Bankers Association, including the Certified Regulatory Compliance Mangers designation, and currently holds a Certified Anti-Money Laundering Specialist certification.

    “Our Board worked to identify a new, independent director who would bring unique skills and senior experience to support Ben’s commitment to operate using industry best practices,” said Beneficient’s CEO and Chairman Brad Heppner. “I am pleased to welcome Patrick to Ben’s Board. Patrick’s extensive legal and regulatory compliance experience – specifically within the FinTech industry – will provide valuable leadership and governance insights to the Board.”

    Mr. Donegan received a Bachelor of Science in Accounting from St. John’s University and a J.D. from St. John’s University School of Law. Mr. Donegan currently serves as a Senior Adviser at Premier Consulting Partners, Inc., a consulting firm focused on operational risk evaluation and compliance, and previously served as the Global Chief Compliance Officer of OKX Group from August 2023 to January 2024. From 2015 to 2023, Mr. Donegan held various leadership positions at Signature Bank, including Chief Compliance Officer, Senior Vice President and Sanctions Compliance Officer. Mr. Donegan’s professional career has also included positions with a number of prominent investment banks, including Cantor Fitzgerald, RBC, Guggenheim, BNP Paribas and Nat West, and compliance roles at Mitsubishi UFJ and Hudson City Bancorp. Through his legal experience and compliance officer roles, Mr. Donegan has developed expertise in identifying risks and establishing policies and procedure to effectively manage those risks. Mr. Donegan’s understanding of banking and capital markets rules and the related regulatory processes will benefit the Company’s efforts to maintain industry best practices across the organization.

    About Beneficient

    Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds − with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote™ tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.

    Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.

    For more information, visit http://www.trustben.com or follow us on LinkedIn.

    Investors

    investors@beneficient.com

    Contacts

    Matt Kreps: 214-597-8200, mkreps@darrowir.com
    Michael Wetherington: 214-284-1199, mwetherington@darrowir.com
    Investor Relations: investors@beneficient.com

    Disclaimer and Cautionary Note Regarding Forward-Looking Statements

    Certain of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be generally identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and, in each case, their negative or other various or comparable terminology. These forward-looking statements reflect our views with respect to future events as of the date of this document and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to, the risk factors that are described under the section titled “Risk Factors” in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings with the Securities and Exchange Commission (the “SEC”). These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document and in our SEC filings. We expressly disclaim any obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

    The MIL Network –

  • MIL-OSI: Beneficient Consummates Transaction to Increase Permanent Equity by $126 Million

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Oct. 04, 2024 (GLOBE NEWSWIRE) — Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled financial services holding company announces that its subsidiary Beneficient Company Holdings, L.P. consummated a previously announced transaction pursuant to which approximately $126 million of its preferred equity was redesignated as non-redeemable. As a result of the transaction, which was approved by the Company’s founders holding the majority of the preferred equity, Beneficient expects approximately $126 million of temporary equity to be reclassified to permanent equity on its balance sheet as of September 30, 2024.

    About Beneficient

    Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds− with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote™ tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.        

    Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.

    For more information, visit http://www.trustben.com or follow us on LinkedIn.

    Investors

    investors@beneficient.com

    Contacts

    Matt Kreps: 214-597-8200, mkreps@darrowir.com
    Michael Wetherington: 214-284-1199, mwetherington@darrowir.com
    Investor Relations: investors@beneficient.com

    Disclaimer and Cautionary Note Regarding Forward-Looking Statements

    Certain of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be generally identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and, in each case, their negative or other various or comparable terminology. These forward-looking statements reflect our views with respect to future events as of the date of this document and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to, the risk factors that are described under the section titled “Risk Factors” in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings with the Securities and Exchange Commission (the “SEC”). These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document and in our SEC filings. We expressly disclaim any obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

    The MIL Network –

  • MIL-OSI: Hut 8 Operations Update for September 2024

    Source: GlobeNewswire (MIL-OSI)

    19.5 EH/s and 762 MW under management in mining with path to 33.5 EH/s

    Announced partnership with BITMAIN to host next-generation ASIC miner with purchase option to reach 20 EH/s of self-mining

    GPU-as-a-service subsidiary generating revenue with first cluster fully online

    Outstanding balance of Anchorage Digital loan equitized at price of $16.395 per share

    MIAMI, Oct. 04, 2024 (GLOBE NEWSWIRE) — Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, today released its operations update for September 2024.

    “We made significant strides in scaling our compute layer across Bitcoin mining and AI this month,” said Asher Genoot, CEO of Hut 8. “In partnership with Bitmain, we launched a next-generation, DLC-cooled ASIC miner. We are targeting a 15 EH/s hosting deployment at our Vega site in the Texas Panhandle by H1 2025, which is expected to generate ~$135 million in annualized hosting revenue on a fully ramped basis. The agreement’s purchase option creates a clear path to 20 EH/s of self-mining capacity by allowing us to fully acquire the hosted machines for our fleet. This deal demonstrates our commitment to pushing the mining industry forward while positioning for expansion into AI data centers.”

    “Our GPU-as-a-service vertical is now fully operational and generating revenue. As we advance discussions with potential partners to expand our digital infrastructure layer across Bitcoin mining and AI compute, we remain committed to maintaining balance sheet strength and creative structuring. To that end, we have also enhanced our financial position by fully converting our ~$38 million Anchorage Digital loan into equity at $16.395 per share of common stock, which represents a 51% premium to the Company’s 20-day VWAP through the day prior to the signing of the equitization agreement.”

    Highlights:

    • Announced partnership with BITMAIN to host U3S21EXPH ASIC miner in H1 2025 with path to 20 EH/s of self-mining capacity; partnership is expected to generate ~$135 million in annualized hosting revenue on a fully ramped basis
    • Brought 1,000 NVIDIA H100 GPUs online and began generating revenue for new GPU-as-a-service subsidiary Highrise AI, Inc.
    • Announced equitization of ~$38 million Anchorage Digital loan at a price of $16.395 per share
    • Continued construction of Ionic Digital’s Cedarvale site and remain on track to complete site buildout by December

    Operating Metrics

    Average during the period unless otherwise noted September 2024 August 2024
    Total energy capacity under management1,2,3 762 MW 762 MW
    Total deployed miners under management4 189.9K 179.5K
    Total hashrate under management5 19.5 EH/s 18.5 EH/s
         
    Self-Mining6    
    Deployed miners7 58.6K 58.5K
    Deployed hashrate8 5.6 EH/s 5.6 EH/s
    Bitcoin produced1,9 85 BTC 87 BTC
    Bitcoin on balance sheet1 9,106 BTC 9,105 BTC
         
    Managed Services2,10    
    Energy capacity under management1 582 MW 582 MW
    Deployed miners under management 140.8K 130.5K
    Hashrate under management 14.9 EH/s 13.9 EH/s
         
    Hosting    
    Deployed miners under management11,12 76.7K 76.7K
    Hashrate under management13 8.6 EH/s 8.5 EH/s
         

    Energy Infrastructure Platform1

            Current/Contracted Revenue Stream(s)14
    Site Location Owner Power
    Capacity    		 Self-
    Mining    		 Managed
    Services    		 Hosting HPC Power
    Sales
    Vega15 Texas Panhandle Hut 8 205 MW     Yes16    
    Medicine Hat Medicine Hat, AB Hut 8 67 MW Yes        
    Salt Creek Orla, TX Hut 8 63 MW Yes        
    Alpha Niagara Falls, NY Hut 8 50 MW Yes   Yes    
    Drumheller17 Drumheller, AB Hut 8 42 MW          
    Kelowna Kelowna, BC Hut 8 1.1 MW       Yes  
    Mississauga Mississauga, ON Hut 8 0.9 MW       Yes  
    Vaughan Vaughan, ON Hut 8 0.6 MW       Yes  
    Vancouver II Vancouver, BC Hut 8 0.5 MW       Yes  
    Vancouver I Vancouver, BC Hut 8 0.3 MW       Yes  
    King Mountain18 McCamey, TX Hut 8 (JV) 280 MW Yes Yes Yes   Yes
    Iroquois Falls19 Iroquois Falls, ON Hut 8 (JV) 120 MW         Yes
    Kingston19 Kingston, ON Hut 8 (JV) 110 MW         Yes
    North Bay19 North Bay, ON Hut 8 (JV) 40 MW         Yes
    Kapuskasing19 Kapuskasing, ON Hut 8 (JV) 40 MW         Yes
    Cedarvale3 Barstow, TX Managed 215 MW   Yes      
    East Stiles Midland, TX Managed 30 MW   Yes      
    Rebel Midland, TX Managed 25 MW   Yes      
    Stiles Midland, TX Managed 20 MW   Yes      
    Garden City Midland, TX Managed 12 MW   Yes      
    Total     1,322 MW          
                     

    Upcoming Conferences & Events:

    • October 7–9, 2024: Yotta 2024
    • October 15, 2024: USC Marshall Energy Business Summit 2024
    • November 13–14, 2024: Cantor Fitzgerald Crypto, Digital Assets & AI Infrastructure Conference 2024
    • November 19, 2024: Craig-Hallum 15th Annual Alpha Select Conference
    • November 19, 2024: Benzinga Future of Digital Assets Conference 2024
    Notes:
    (1) As of the end of the period
    (2) Includes all Self-Mining, Managed Services, and Hosting infrastructure, including 100% of the energy capacity at the King Mountain site, which is owned by the King Mountain JV in which the Company has a 50% membership interest and a Fortune 200 renewable energy producer has the remaining 50% membership interest (the “King Mountain JV”).
    (3) Includes 215 megawatts assuming full capacity at Cedarvale, which was first energized in April and is currently under construction.
    (4) Includes all miners that are racked with power and networking, rounded to the nearest 100, in Self-Mining, Managed Services, and Hosting infrastructure with power and networking, including all miners at the King Mountain site.
    (5) Includes all Self-Mining, Managed Services, and Hosting hashrate, including 100% of the hashrate at the King Mountain site.
    (6) Self-Mining operations for Hut 8 include 100% of operations at the King Mountain site.
    (7) Deployed miners are defined as those physically racked with power and networking, rounded to the nearest 100; deployed self-mining miners net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 49.6K during September and 49.5K during August.
    (8) Indicates the target hashrate of all deployed miners; deployed self-mining hashrate net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 4.7 EH/s during September and August, respectively.
    (9) Bitcoin produced net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 72 BTC during September and 74 BTC during August.
    (10) The Managed Services figures reflected in this table include the Self-Mining and Hosting metrics from the sites where Hut 8’s Managed Services business is an additional service layer in the operation of the site (at King Mountain, Rebel, Stiles, East Stiles, and Garden City). As a result, the sum of the Self-Mining, Managed Services, and Hosting numbers will not add up to the “Total energy capacity under management”, “Total deployed miners under management”, and “Total hashrate under management” figures that are also reflected in the table.
    (11) Miners are rounded to the nearest 100.
    (12) 42.6K deployed miners under management net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner during September and August, respectively.
    (13) 4.7 EH/s under management net of Hut 8’s joint venture partner’s 50% share of the King Mountain JV during September and August, respectively.
    (14) Reflects revenue sources to Hut 8, its subsidiaries, and/or joint ventures in which they participate.
    (15) Site is currently under development.
    (16) Anticipated to begin generating revenue in H1 2025
    (17) Site currently shut down; Hut 8 maintaining lease with option value of re-energizing site.
    (18) Owned by a JV between Hut 8 and a Fortune 200 renewable energy producer in which Hut 8 has an approximately 50% membership interest.
    (19) Owned by a JV between Hut 8 and Macquarie in which Hut 8 has an approximately 80% membership interest.
       

    About Hut 8 

    Hut 8 Corp. is an energy infrastructure operator and Bitcoin miner with self-mining, hosting, managed services, and traditional data center operations across North America. Headquartered in Miami, Florida, Hut 8 Corp. has a portfolio comprising twenty sites: eleven Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, and four power generation assets in Ontario. For more information, visit http://www.hut8.com and follow us on X (formerly known as Twitter) at @Hut8Corp.

    Cautionary Note Regarding Forward–Looking Information

    This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical facts, included in this press release that address activities, events or developments that Hut 8 expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of the business, operations, plans and other such matters is forward-looking information. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “allow”, “believe”, “estimate”, “expect”, “predict”, “can”, “might”, “potential”, “predict”, “is designed to”, “likely” or similar expressions. Specifically, such forward-looking information included in this press release includes statements relating to our path to increase our EH/s under management to 33.5 EH/s, our path to increase self-mining EH/s to 20 EH/s through the purchase option with Bitmain, the timing and potential revenues for the hosting deployment at our Vega site, our plans to expand into AI data centers, our discussions with potential partners to expand our digital infrastructure layer across Bitcoin mining and AI compute, our commitment to balance sheet strength and creative structuring, and the timing to complete the Cedarvale site buildout for Ionic Digital.

    Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to, security and cybersecurity threats and hacks; malicious actors or botnet obtaining control of processing power on the Bitcoin network; further development and acceptance of the Bitcoin network; changes to Bitcoin mining difficulty; loss or destruction of private keys; increases in fees for recording transactions in the Blockchain; erroneous transactions; reliance on a limited number of key employees; reliance on third party mining pool service providers; regulatory changes; classification and tax changes; momentum pricing risk; fraud and failure related to digital asset exchanges; difficulty in obtaining banking services and financing; difficulty in obtaining insurance, permits and licenses; internet and power disruptions; geopolitical events; uncertainty in the development of cryptographic and algorithmic protocols; uncertainty about the acceptance or widespread use of digital assets; failure to anticipate technology innovations; the COVID19 pandemic, climate change; currency risk; lending risk and recovery of potential losses; litigation risk; business integration risk; changes in market demand; changes in network and infrastructure; system interruption; changes in leasing arrangements; failure to achieve intended benefits of power purchase agreements; potential for interrupted delivery, or suspension of the delivery, of energy to mining sites and other risks related to the digital asset mining and data center business. For a complete list of the factors that could affect Hut 8, please see the “Risk Factors” section of Hut 8’s Transition Report on Form 10-K, available under the Company’s EDGAR profile at http://www.sec.gov, and Hut 8’s other continuous disclosure documents which are available under the Company’s SEDAR+ profile at www.sedarplus.ca and EDGAR profile at www.sec.gov.

    Hut 8 Corp. Investor Relations
    Sue Ennis
    ir@hut8.com

    Hut 8 Corp. Media Relations
    media@hut8.com

    The MIL Network –

  • MIL-OSI Russia: Putin and Sobyanin opened an innovative practical platform in Rudnev

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    On the Day of Secondary Vocational Education, Russian President Vladimir Putin, Moscow Mayor Sergei Sobyanin and Russian Minister of Education Sergei Kravtsov opened the Rudnevo practical training site for Moscow colleges.

    “We have started building a large area related to education. This is secondary vocational education. This building where we are is an intercollegiate center for training specialists on high-tech equipment. Next, a laboratory complex is being built. Next, a building for the Stankin University is being built, where there will be a student training center, their laboratories and production areas. Next, a building for the production of Rostec machine tools will be built. So this is a large machine-building complex that will be a center of competence for our country,” the Moscow Mayor said.

    The Rudnevo site is the first innovative educational space for practical training of qualified personnel taking into account the needs of the Moscow economy, which is the largest production and scientific-engineering center of Russia. More than 4.5 thousand enterprises operate here and over 750 thousand people work.

    Educational platform “Rudnevo”

    The college training platform was created taking into account the new concept of secondary vocational education (SVE) development. The capital’s industrial enterprises took part in the development of the project. Advanced training programs, workshops equipped with the most modern equipment, close cooperation with future employers ensure high quality training of sought-after specialists.

    The educational platform is located in the industrial park “Rudnevo”, which is part of the special economic zone “Technopolis Moscow”. College students will study on the same territory with industrial partners – future employers.

    “The site’s capacity allows for training more than three thousand people per year. Practical classes are conducted by the most competent and experienced master teachers and employees of partner employers. Students from 15 Moscow colleges will be the first to undergo practical training here. A Center for Professional Competencies has also been created on the site. Its tasks include updating educational programs and forecasting the emergence of new competencies,” he wrote in his

    telegram channel Sergei Sobyanin.

    Source: Sergei Sobyanin’s Telegram channel @mos_sobyanin

    The building with a total area of 9.1 thousand square meters houses a high-tech complex, which includes 21 workshops and laboratories. It is as close as possible to the conditions of real production. Here, students will be able to practice professional skills in production conditions in such areas and specialties as:

    — mechanical engineering (assembly mechanic, turner, milling machine operator, operator of CNC machines, general machine operator, welder (manual and partially mechanized welding – surfacing), adjuster of machines and equipment in mechanical processing, specialist in the quality control department);

    — electronics (installer of electronic equipment and devices, assembler of electronic equipment and devices, adjuster of electronic equipment and devices, SMD line operator);

    — automation of production (specialist in servicing mechatronic and robotic systems, fitter of control and measuring instruments and automation, specialist in additive technologies);

    — aviation industry, including unmanned aircraft systems (UAS) (aircraft electrical equipment fitter, aircraft equipment assembler, aircraft composite parts assembler, unmanned aircraft system operator up to 30 kilograms).

    Thanks to cooperation with residents of the Rudnevo Industrial Park, all conditions for training have been created on the site. Workshops and laboratories are equipped with equipment that is installed in production facilities, and the training programs take into account the needs of future employers.

    The training and production complex of the site includes three blocks.

    The industrial block consists of a section where CNC machines are installed, laboratories for metrology, standardization and certification, precision digital measurements, mechanical engineering design, as well as testing grounds for turning, milling machines, and metalworking and welding work.

    The UAS production site includes areas for programming, installation of aviation and electronic equipment, final assembly of UAS, modeling and manufacturing of molds, composite materials, unit and modular assembly, as well as laboratories for aerodynamics, aeromechanics and UAS data analysis.

    The multi-profile unit consists of metalworking and electrical installation workshops, laboratories for technical systems control, materials science and composite materials, pneumatic and hydraulic systems.

    The uniqueness of the workshops is that they allow for a full-fledged production process to be organized. At the UAS site, students will be able to manufacture drone bodies, solder electronic boards, program, assemble, pilot, and decipher flight data, and in the mechanical engineering zone, they will be able to do metalwork and evaluate the quality of finished products.

    Large industrial enterprises take part in the practical training of students. Among them are the Moscow machine-building plants Avangard and Skorost, the production complex Salut, the National Helicopter Manufacturing Center named after M.L. Mil and N.I. Kamov, the Moscow Design and Production Complex Universal named after A.I. Privalov, the companies Gaskar Group, Kronstadt, Aeromax, Nyukon Energy, CARS, Vemina Aviaprestige, Monolith, Aeropribor-Voskhod.

    Preparing students at the educational site “Rudnevo”

    The capacity of the Rudnevo educational site allows it to train more than three thousand students per year.

    In the 2024/2025 academic year, practical training will be provided to students from 15 secondary specialized educational institutions. These include Polytechnic College No. 8 named after I.F. Pavlov, Polytechnic College named after N.N. Godovikov, Moscow State Educational Complex, College of Communications No. 54 named after P.M. Vostrukhin, College of Automation and Information Technology No. 20, Educational Complex “Yugo-Zapad”, Moscow Industrial College, College of Architecture, Design and Reengineering No. 26, College of Hospitality Industry and Management No. 23, Police College, Moscow College of Business Technologies, College of Modern Technologies named after M.F. Panov, College of Entrepreneurship No. 11, First Moscow Educational Complex and Technological College No. 24.

    Depending on the specialty, students will be able to complete a single professional module in one of the courses or work on site for the entire period of study. In addition, they will have the opportunity to find employment at a partner enterprise. In this case, you can complete your studies according to an individual schedule.

    Practical classes will be conducted by competent and experienced master teachers, as well as representatives of partner employers. In total, 42 masters of industrial training from Moscow colleges and 40 current employees of industrial enterprises of the capital will be able to teach at the site.

    A center of professional competencies has been created on the basis of the site. Here they will be engaged in updating educational programs taking into account the prospective development of science and production technologies, forecasting the emergence of new competencies based on the transformation of production and including them in training programs, as well as methodological support for industrial training masters and improving their pedagogical and professional skills. Cooperation with the country’s leading engineering universities, such as the Moscow State Technological University (MSTU) “Stankin” and the Moscow State Technical University named after N.E. Bauman, will help solve these problems.

    In addition, an entrance control of students’ readiness to master programs at the Rudnevo educational platform is provided. For this purpose, the center of professional competencies will interact with partner colleges, providing them with methodological and consulting support.

    Each student has an individual work place on the site. The logistics of the classrooms are well thought out: for example, there are areas for project and group work. Modern public spaces will make extracurricular time comfortable.

    In the coworking space, students can work on projects, discuss ideas, and analyze situations they have considered in class. The assembly hall is designed for conferences and business events.

    The college has a 147-seat canteen where students on a budget are provided with free hot meals. On the third floor there is a cafe whose products are produced and sold by students of Moscow food colleges.

    In addition to the practical training platform for colleges, the Moscow Government, together with MSTU Stankin, is implementing a project within the framework of which the first competence center for the machine tool industry in the country is being created in Rudnev.

    The 19.5 thousand square meter building will house a tool and equipment testing center, an expert analysis center, a design bureau, pilot production, a reverse engineering center, and a numerical control center.

    The center will be able to train and practice about a thousand students per year. The site also organizes pilot and small-scale production of specialized products.

    On the industrial policy of the city of Moscow

    Modern Moscow is the largest industrial and scientific-engineering center of Russia. There are more than 4.5 thousand industrial enterprises in the capital, employing more than 750 thousand people.

    Every year, 150 new technology companies open in Moscow and dozens of investment projects are implemented, providing the city with additional jobs. By 2030, the number of industrial production facilities will increase to 5.5 thousand, and their employees – to 850 thousand. The total area of industrial infrastructure will grow from 14 million square meters to 21 million.

    The manufacturing industry is the driving force behind Moscow’s economic development.

    “I will say about industry that in general it is actively developing. Over the past five years, I reported, the manufacturing industry has doubled,” said Sergei Sobyanin.

    By the end of 2024, private and public investment will amount to 310 billion rubles. According to forecasts, by 2030 they will grow by 620 billion rubles – to 930 billion rubles.

    One of the effective measures to support the city is the localization of industrial enterprises in the special economic zone “Technopolis Moscow”. This is the center for the development of the capital’s advanced high-tech industry, which includes six sites with a total area of more than 280 hectares. More than 1.5 million square meters of industrial and public-business areas have been built here. The plan is to increase this figure to 3.8 million square meters by 2030.

    Today, there are more than 220 enterprises operating in Technopolis Moscow, 112 of which have resident status and receive tax preferences. Residents are exempt from paying property, land and transport taxes for 10 years, and the income tax rate for them is only two percent instead of 20.

    During the operation of the special economic zone, companies invested about 330 billion rubles in the development of their high-tech production facilities and created 22 thousand jobs. The volume of investments from the Moscow budget amounted to almost 135 billion rubles.

    Innovative developments of enterprises can be applied in various fields – from microelectronics to medicine and space. Among them are optical multiplexers, portable ultrasound machines, mobile ventilator complexes, multifunctional amphibious robots designed for reconnaissance and liquidation of consequences of accidents at various flooded objects, nuclear power plants and mines.

    Another tool for developing Moscow industry is clustering. By 2030, more than 13 inter-industry clusters will operate in Moscow – this is over seven million square meters of production space and 100 thousand jobs.

    Thus, one of the largest pharmaceutical clusters in the country, which includes 13 companies, is successfully operating at the Alabushevo site of the Technopolis Moscow special economic zone. A photonics and microelectronics cluster has also opened there, with 61 companies participating. Total investments in this site amounted to 137.9 billion rubles, of which 7.9 billion rubles were invested by the Moscow Government. Total investments will grow to 353 billion rubles by 2030.

    Two years ago, the Moscow cluster of electric vehicle manufacturing began its work. It included 64 companies, most of which receive benefits from the city. In particular, they are exempt from paying property, land and transport taxes.

    One of the important projects is the construction of the first gigafactory in Russia for the production of batteries. The city has signed an offset contract for the supply of batteries for public electric transport. The total purchase amount will be 172 billion rubles over six years. The enterprise will produce 50 thousand batteries per year, which will cover about 40 percent of the needs of the Russian market. The opening of the production will create 900 new jobs. The total investment in the project is 52 billion rubles, of which 25 billion rubles were allocated by the Moscow Government, and 27 billion are private funds.

    On behalf of the President of the Russian Federation Vladimir Putin, a new industrial park was opened in Rudnevo in 2023. Federal Center for Unmanned Aircraft Systems. Today it unites 11 leading developers and manufacturers of unmanned aircraft systems. The enterprises have created more than 2.8 thousand jobs. Investments in the industrial park “Rudnevo” amounted to 97 billion rubles, of which 20 billion rubles are private funds, and 77 billion rubles were invested by the Government of Moscow. By 2030, a total of 490 billion rubles will be invested.

    Work is currently underway to form food and construction clusters in TiNAO.

    The food cluster will build over 800 thousand square meters of industrial space and create 11.4 thousand jobs. Private investments will reach almost 90 billion rubles.

    The opening of the construction cluster will create 30 thousand jobs. More than 1.6 million square meters of industrial real estate will be built within its boundaries. Private investments will amount to almost 145 billion rubles.

    In the capital it is being created shipyard for the production of electric ships. Its capacity will occupy 23 thousand square meters. Commissioning is scheduled for the first quarter of 2025. The enterprise will provide more than 500 new high-tech jobs. Investments from the Moscow Government amount to more than 4.6 billion rubles.

    In addition, two new large industrial clusters will appear in TiNAO – automobile manufacturing and eco-industrial. In total, almost 23 thousand highly qualified jobs will be created there.

    Sobyanin named innovative clusters that will be created in New Moscow

    A cluster of innovative technologies in the field of construction is being created on the basis of OOO “Innovative Technology Plant – Monarch”. Last year, the first stage was put into operation – this is an experimental plant with an area of 26.6 thousand square meters. The volume of investments amounted to 3.4 billion rubles. Today, 500 people work here.

    A glass cluster is also being built in TiNAO. 120 hectares will be allocated for it for facilities with a total area of 840 thousand square meters. 9.6 thousand jobs will appear here. Investments will exceed 105 billion rubles. The implementation of the project will allow to cover the need for special glass, including medical glass.

    The elevator construction industry is quite promising for investment. The departure of foreign companies from the domestic market opens up new opportunities for capital enterprises to occupy vacant niches. Thus, on the basis of the Karacharovsky Mechanical Plant, a cluster of elevator construction and vertical transport of Moscow is being formed, which will accelerate the development and localization of vertical transport production in Russia.

    The National Space Center is being built on the territory of the Khrunichev State Research and Production Space Center. This is a large-scale project implemented jointly with Roscosmos. According to preliminary estimates, about 27 thousand jobs will be created on the site.

    Moscow has historically had a strong scientific base. Today, in the R sphere

    There are 735 higher education institutions (excluding branches) in Russia. At the same time, every fifth university is located in Moscow, which confirms the presence of significant human resources potential in the capital and the high level of training of students for work in high-tech enterprises.

    Today in Moscow, specialists in engineering and technical fields are trained at the Bauman Moscow State Technical University, the Stankin Moscow State Technological University, the Moscow Institute of Physics and Technology, the Lomonosov Moscow State University, the National Research Nuclear University MEPhI, the MISiS University of Science and Technology and other leading universities.

    In order to increase the number of qualified personnel annually graduating for the industrial sector, the Moscow Government is modernizing the system of secondary vocational education and implementing accelerated training of engineering personnel.

    Industrial Park “Rudnevo”

    “Rudnevo” is an industrial park within the SEZ “Technopolis Moscow”, built in the east of the city in record time to accommodate critically important production. This is an example of a modern high-tech industrial park, where it is convenient to work, study, create production and educational clusters.

    Construction work in Rudnev began at the end of 2020. During the construction of production buildings, domestic materials were used (for a number of items, import substitution was 100%) and modern technologies, which made it possible to reduce construction time by 35-50 percent, and the cost of work by 10-15 percent.

    Currently, 21 production buildings with a total area of 377 thousand square meters have been erected, including a pilot production facility and a design bureau. Additional production buildings are in the active stage of construction, as well as a social infrastructure building, which will house laboratories, office space, a training center and other social facilities for company employees.

    In the future, 21 thousand highly qualified jobs will be created at the enterprises in Rudnev, primarily for residents of the rapidly developing Moscow districts of Kosino-Ukhtomsky, Vykhino-Zhulebino and Nekrasovka, as well as the urban district of Lyubertsy in the Moscow region.

    Thanks to the SEZ regime, companies – residents of Rudnev receive significant tax benefits. In particular, they are exempt from property, transport and land taxes. The income tax rate for them is only two percent. Residents have a free customs zone regime and land lease benefits.

    In addition to the Federal Center for Unmanned Aircraft Systems, the Rudnevo Industrial Park also houses a production building for the Almaz-Antey Air Defense Concern and an industrial complex for PJSC Yakovlev, which currently produces wing kits for the MS-21 medium-range aircraft.

    In addition, enterprises producing ATMs, electrical capacitors, absorbent linen, equipment for industrial waste sorting, and others have set up their production facilities in Rudnev.

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

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

    https://vvv.mos.ru/major/themes/11847050/

    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 Russia: Sobyanin spoke about the development of secondary vocational education in Moscow

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Today, 275 thousand students study in Moscow colleges, and by 2030 their number will double to 420 thousand. This was announced by Moscow Mayor Sergei Sobyanin during the opening of the practical training site for Moscow colleges “Rudnevo”. The event was attended by Russian President Vladimir Putin and Russian Minister of Education Sergei Kravtsov.

    “We plan to double the number of students studying in colleges and graduates in five years. Thus, the number of students in colleges and higher education institutions will be comparable. Which, in general, is necessary for the economy today. What do we plan to do? We have two thousand real laboratories, workshops. We plan to update them by 100 percent by 2027. To make both laboratories and workshops modern,” said Sergei Sobyanin.

    In addition, according to the Mayor of Moscow, it is planned to build 400 thousand square meters of campuses, renovate existing sites and create shared-use centers.

    Today, there are 178 colleges operating in Moscow. Most specialists are trained for the IT sector, industry, creative industry and construction. Thanks to the high quality of training, graduates of the capital’s colleges quickly find work, Sergei Sobyanin said in on your telegram channel.

    Source: Sergei Sobyanin’s Telegram channel @mos_sobyanin

    Secondary vocational education is actively developing throughout the country. More than 65 percent of all workers are specialists with secondary vocational education, noted Sergey Kravtsov.

    “It is important that the programs in colleges have become as practice-oriented as possible. About 80 percent of the educational process is practice. We updated the standards together with the industries. New 400 standards, directly with the enterprises for the requirements that the enterprises need. We do not forget about general education: Russian, mathematics, history, new history textbooks for colleges from this year and education. Each college has an education advisor,” said Sergey Kravtsov.

    Colleges prepare specialists that industries need. Some of the students begin their professional activities while still studying. According to Sergey Kravtsov, today more than 90 thousand college students are employed in the military-industrial complex.

    “The measures that are being implemented increase the prestige of blue-collar jobs. Last year, 1.25 million applications were submitted to colleges. Three people per place on average, in some specialties – nine people per place. 62.5 percent of ninth-graders choose colleges. In particular, career guidance helps, which we have been conducting in schools since last year from the sixth grade, when children come to colleges and to production facilities,” said Sergey Kravtsov.

    Labor market in Moscow

    The capital’s labor market is one of the largest and most diversified in the world. More than 8.6 million people are employed in the city’s economic sectors. Moscow has a constant need for qualified personnel, as well as a minimal level of unemployment.

    75 percent of employers are interested in specialists with secondary vocational education. Demand for college graduates is observed in such industries as industry, transport, logistics, construction, trade and information technology (IT).

    “Today, 75 percent of secondary vocational education personnel are required. At the same time, we train 63 percent of specialists with higher education in Moscow, and only 18 percent of secondary vocational education specialists. And another 19 percent of short programs are workers,” added Sergei Sobyanin.

    At the same time, the professional training system is primarily focused on specialists with higher education. There is an imbalance between the needs of the market and the capabilities of the professional education system. The demand for mid-level specialists with decent salaries is a stable trend in the capital’s labor market.

    The city pays special attention to the development of the secondary vocational education system. Currently, there are 178 colleges in the capital, including 71 private, 44 federal and 63 colleges under the jurisdiction of the Moscow Government. More than 270 thousand students study there, including almost 130 thousand people receive education in city colleges.

    20.6 thousand students study in city colleges in IT fields. 20.1 thousand people receive education in the industrial sector, 14.7 thousand Muscovites in creative industries and construction, 14.2 thousand and 13.4 thousand students in transport and healthcare, respectively. 12.9 thousand city residents study specialties related to hospitality, nine thousand students in education and social spheres, and 6.5 thousand people in security and law. 3.2 thousand Muscovites receive education in finance and trade, 1.5 thousand in culture and art, and 0.4 thousand students in sports.

    Last year, 93 percent of city college graduates found jobs.

    In 2023, an additional program of career guidance and career testing for ninth-graders was introduced. Thanks to this, graduates were able to get acquainted with modern professions taught in Moscow colleges. The program aroused great interest among teenagers and their parents. More than 60 thousand schoolchildren took free career testing, and over 70 percent of its participants decided to enroll in secondary vocational education institutions.

    Professional auditions, excursions to employers and interactive quests: Moscow ninth-graders completed a comprehensive career guidance program

    In 2024, the Moscow Government doubled the number of Moscow schoolchildren who graduated from city colleges nine classes. In total, 16 thousand additional budget places were created in popular areas. These include medicine, security, finance, information technology, hospitality, creative industries, industry, construction and transport.

    As a result, about 45 thousand students entered city colleges. Of these, about 36 thousand ninth-grade graduates study on a budget basis.

    The increase in budget places satisfies the demand of young people to obtain promising and in-demand specialties, allowing them to begin professional activities as early as 18–19 years of age.

    It is planned that by 2030 the number of students in Moscow (city, federal and private) colleges will grow to 420 thousand. Admission will increase by 53 percent: more than 150 thousand students will enroll in colleges annually – primarily ninth-grade graduates from the capital and other regions. Secondary vocational education programs will be taught to 11th-grade graduates and adults who want to obtain a popular and promising specialty.

    Modernization of the secondary vocational education system

    Increasing the number of college students is an important component of the modernization of the secondary vocational education system carried out by the Moscow Government. It is based on two basic principles:

    — relevance and demand — educational programs are developed with the participation of employers and professional associations;

    — practical orientation — students are immersed in a professional environment from the first year, and practical classes make up at least 70 percent of the total training time and are conducted under the guidance of experienced mentors.

    Sergei Sobyanin: At least 70% of classes in Moscow colleges will be practical

    As part of the modernization of the secondary vocational education system, the infrastructure and content of educational programs are being updated. This work includes several aspects.

    Constant interaction with enterprises and work at their request. For this purpose, colleges cooperate with many organizations. Today, among the partners of the capital’s institutions of secondary vocational education are more than three thousand employers. Among them are the state corporation Rostec, the State Unitary Enterprise Moscow Metro, JSC Sheremetyevo Security, PJSC MOEK, JSC Concern VKO Almaz-Antey, OOO Glavstroy, PJSC MGTS, PJSC Rostelecom, GUP Mosgortrans, PJSC Sberbank of Russia, PJSC Gazprom, the association of Russian automobile dealers, OOO Inzhenerstroy, OOO Spetsgrad, JSC Moscow Automobile Plant Moskvich, JSC NPP Toriy, the holding company United Confectioners and other companies.

    For the second year, a unique practice has been implemented — conducting a qualification exam in the conditions of a real production process. Its successful completion provides an opportunity to receive a rank and a job offer at the same time. In addition, employers participate in the development of the content and criteria for assessing the final demonstration exam and are part of the examination committee.

    Updating educational programs. The content of educational programs is formed on the basis of a competency profile compiled jointly with the professional community and industry representatives. In total, city colleges provide training in 170 specialties.

    By September 1, 2024, 60 percent of the programs currently being studied by 43 thousand college students have been updated. By the 2026/2027 academic year, all educational programs will be brought up to the new standard. In addition, a system for adapting programs to new technologies and changing labor market needs will be created. The main objective is to train a student who is ready to start full-time work immediately after graduation.

    “One of the most important problems is the quality of teachers. Since we have a large production potential, we are solving this problem. Reducing the training time to three years, today – four years. We are simply compressing some programs so that the guys can enter real life faster,” said Sergei Sobyanin.

    The duration of training is reduced by increasing its intensity. This academic year, the number of four-year programs has been reduced by 70 percent. Starting from the 2025/2026 academic year, all preparatory programs will be designed for two years for those who have completed 11th grade and three years for ninth-graders.

    Multidisciplinary and increasing the level of qualification. Students have the opportunity to master not one, but even two or three professions during their studies. This increases the competitiveness of young specialists in the labor market.

    For example, in the specialty “mechanical engineering technology”, a graduate receives the basic qualification of “technician-technologist”, as well as the opportunity to work in the professions of “general profile machine operator”, “setter of machines and manipulators with program control”, “controller of machine and metalwork works”.

    The city is forming a mandatory level of training quality for each profession. The minimum standard of qualification level will be the third category, and for some specialties – the fourth.

    Previously, college graduates received no higher than a second degree. They were not allowed to work in complex types of production. The guys had to be trained further. As a result, the wages of young specialists were low.

    Digitalization of education using the services of “MES College”. Since September 2024, teachers and students of 47 city colleges have had access to the electronic services of the “Moscow Electronic School” to prepare for classes (“MESH”). This improved the quality of education and made the educational process more accessible and convenient for all participants.

    Currently, the “MES” is being finalized to meet the specifics and objectives of professional education. It will be completed by 2026. Specialized forms of control and certification will be introduced, a student portfolio, an electronic grade book, personal student and teacher accounts, as well as an electronic library of materials for teachers will be created.

    The MES library will feature a set of materials designed for modern formats and teaching technologies: electronic lesson plans with video assignments and tests, interactive applications, virtual laboratories, electronic teaching aids, and digital textbooks.

    Improving the material and technical base of secondary vocational education. A practical training site for Moscow colleges operates in the Rudnevo industrial park. In 2024–2025, it is planned to open two more similar sites — Pechatniki and Yug. Their educational capacity will allow them to train 20,000 students annually, as well as adults who want to get a new specialty.

    A large-scale process of equipping colleges with new modern equipment has begun. Thus, by the end of 2024, it is planned to update and create about 650 educational laboratories and workshops. In 2025, 1,450 workshops will be updated, and in 2026-2027 – another 300 workshops.

    In total, it is planned to re-equip about 2050 laboratories and workshops. This will allow practical and laboratory work to be carried out at a modern technological level using equipment installed at the capital’s enterprises.

    It is planned to build seven innovative educational campuses with a total area of almost 400 thousand square meters to accommodate more than 60 thousand students. Among them are colleges in the fields of creative industry, information technology, healthcare, hospitality, industry, transport, construction and others. The buildings are designed for modern educational technologies taking into account the best world practices. There will be ergonomic premises with a comfortable educational environment and the effect of complete immersion in the profession.

    The new campuses will feature professional workshops, as well as internal and external full-cycle production sites for students to practice their complex skills in conditions close to reality. The educational space will include coworking spaces and transformable rooms for group and project work.

    In addition, the plans include a major overhaul of the Moscow Technological College and the Moscow College of Management, Hotel Business and Information Technology “Tsaritsyno”. These are three buildings with a total area of 50 thousand square meters.

    By 2031, it is planned to completely renew the infrastructure of city colleges.

    Expansion of the career guidance program for schoolchildren. In the 2024/2025 academic year, the program will cover eighth-graders in addition to ninth-graders. It is expected that about 100 thousand Moscow schoolchildren will be able to take part in it.

    One of the new areas will be student-to-school mentoring. Senior students will visit schools and talk about college education, share their success stories, and help kids make the right choice.

    The pool of employers — project partners — will expand. In the new academic year, schoolchildren will visit companies operating in all sectors of the city’s economy. They will get acquainted with high-tech equipment and talk to specialists.

    In particular, excursions to the territories of industrial enterprises of the special economic zone “Technopolis Moscow”, professional tests and master classes with the best employees of resident companies are planned.

    Particular attention will be paid to working with parents. Saturday meetings are planned at career guidance centers with labor market experts and college representatives.

    You can find out more about the in-demand professions and specialties taught in the capital’s colleges on the portal “School. Moscow”, in the section “Atlas of Professions” and podcast “The Key to the Profession”. Useful content about secondary vocational education is also published in the telegram channel “Moscow education” and the group of the same name on the social network “VKontakte”.

    Raising the prestige of secondary vocational education. In 2024, the Moscow Government established grants for capital colleges for achieving high results in teaching students.

    In total, it is planned to award 20 grants: three first-degree grants of 40 million rubles, seven second-degree grants of 25 million rubles, and 10 third-degree grants of 15 million rubles.

    When determining grant recipients, students’ results in passing qualification and demonstration exams, victories in professional skills championships, as well as graduate employment results and other achievements will be taken into account.

    The grant funds are planned to be used for additional material incentives for teachers and masters of industrial training who have achieved high results in their work. This will become an additional incentive for improving the quality of secondary vocational education in Moscow.

    The first colleges to receive grants will be determined based on the results of the 2024/2025 academic year. In the future, incentive funds are planned to be awarded to the best secondary vocational education institutions annually.

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

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

    https://vvv.mos.ru/major/themes/11848050/

    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 Translation: Government of Canada, CRITUC, and FortisAlberta support project to plan transition to zero-emission vehicles

    MIL OSI Translation. Canadian French to English –

    Source: Government of Canada – MIL OSI Regional News in French

    Press release

    Edmonton, Alberta, January 31, 2024 — Communities across the country are developing strategies to reduce greenhouse gas emissions, including reducing carbon emissions from public transit.

    Today, Minister Randy Boissonnault, Curtis Eck, Vice President, Engineering, FortisAlberta, and Josipa Petrunic, President and CEO of the Canadian Urban Transit Research and Innovation Consortium (CUTRIC), announced a combined investment of $550,092 for the Alberta Municipal Constellation Project.

    The Alberta Municipal Constellation Project is a comprehensive study to guide the acquisition and deployment of zero-emission buses for nine transit agencies – Airdrie, Banff/Bow Valley, Fort Saskatchewan, Hinton, Leduc, Rocky View, Spruce Grove, Strathcona County and Whitecourt – in Alberta by assessing the economic, technical and environmental considerations associated with this transition. The study, led by CUTRIC and FortisAlberta, is being conducted in collaboration with local municipalities and the Ontario Society of Professional Engineers (OSPE). The project will guide local transit agencies in planning for the integration of zero-emission buses in the years ahead and provide a regional energy needs modelling study to ensure that needs can be met. Once the project is complete, the results will be shared with all participating communities, helping to spread the benefits of this important project.

    By investing in the electrification of Canada’s public transit systems, the Government of Canada is ensuring that communities across the country have access to clean and affordable transportation, which helps grow our country’s economy and improve the lives of Canadians.

    Quotes

    “When we invest in Alberta, we must consider current and future generations of our province. Our government remains committed to achieving net-zero emissions by 2050, and we will achieve this goal by funding clean transit projects, like this collaboration with FortisAlberta, OSPE, CUTRIC and local transit agencies. This project will provide Albertans with cleaner, quieter and more efficient travel, while contributing to our collective efforts to combat climate change.”

    The Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

    “We are committed to supporting municipalities in our service area in their efforts to decarbonize their transit fleets. Our collaboration is designed to provide a comprehensive analytical framework that assesses economic impacts and designs energy management strategies for seamless integration into Alberta’s electricity grid. Leveraging our distribution planning expertise, FortisAlberta will assess and mitigate the challenges of grid capacity and voltage constraints associated with the decarbonization of municipal fleets. This initiative will facilitate the efficient and effective use of existing distribution infrastructure, ensuring a sustainable transition to greener transit solutions.”

    Curtis Eck, Vice President, Engineering, FortisAlberta

    “This first-of-its-kind project symbolizes the power of collaboration, bringing together municipalities and FortisAlberta to lead the way in zero-emission vehicles in the years to come. Through this project, we hope to not only meet the evolving energy needs of these regions, but also serve as a catalyst for positive change in sustainable transportation. We are confident that the results of this study will guide our partner organizations in their strategic planning and decision-making, fostering a cleaner, greener future for Alberta communities. CUTRIC looks forward to leading the way in innovative and environmentally responsible public transit.”

    Josipa Petrunić, President and CEO of the Canadian Urban Transit Research and Innovation Consortium (CUTRIC)

    “The Bow Valley Regional Transit Services Commission is committed to supporting the introduction of low-emission vehicles and related infrastructure in our region. As we operate in and around Banff National Park, it is essential that we respect the environment and be at the forefront of reducing emissions in the operation of our transit services. Fortis and CUTRIC’s involvement in the project is a critical step in continuing our transition and we are excited to be part of this initiative!”

    Martin Bean, CEO, Roam Transit

    “Our partnership with FortisAlberta and other municipalities on the electric bus feasibility study reflects our commitment to a more sustainable future. We are grateful for the support we receive from Infrastructure Canada through the Zero Emission Transit Fund. Airdrie is on the path to sustainable and efficient public transit.”

    Peter Brown, Mayor of the City of Airdrie

    Quick Facts

    The Government of Canada is providing a contribution of $440,074 to this project through the Zero Emission Public Transit Fund (ZETF). FortisAlberta is contributing $110,018.

    The nine Alberta communities included in this study are: Airdrie, Banff/Bow Valley, Fort Saskatchewan, Hinton, Leduc, Rocky View, Spruce Grove, Strathcona County and Whitecourt. The study will help these communities plan their transition to zero-emission buses.

    The FTCZE helps communities transition to zero-emission school and transit buses to reduce greenhouse gas emissions and contribute to Canada’s net-zero emissions targets. By electrifying their bus fleets, communities are working to ensure our children benefit from a cleaner environment, while supporting Canada’s manufacturing sector.

    This Fund is closely coordinated with the Zero-Emission Bus Initiative, under which the BIC has committed to investing more than $1.5 billion to support the acquisition of zero-emission buses.

    The Government of Canada is investing billions of dollars to provide predictable federal funding for public transit. This funding will be available starting in 2026–27 to support solutions for reliable, fast, affordable and clean public transit. The CZETF complements Canada’s Strengthened Climate Plan: A Healthy Environment and a Healthy Economy. As part of this plan, the federal government is committing to providing permanent federal funding for public transit to ensure every community has clean and affordable transportation options.

    Under an agreement with CRITUC, the Government of Canada is investing $10 million over five years through the FTCZE to help transit bus operators conduct planning work and improve their readiness for a transition to zero-emission bus fleets.

    CRITUC’s mission is to support the commercialization of technologies through industry-led research, development, demonstration and integration projects that bring innovative design to Canada’s low-carbon smart mobility ecosystem.

    Related links

    Contact persons

    For further information (media only), please contact:

    Micaal AhmedManager, CommunicationsOffice of the Minister of Housing, Infrastructure and Communities343-598-3920micaal.ahmed@infc.gc.ca

    Media RelationsInfrastructure Canada613-960-9251Toll Free: 1-877-250-7154Email: media-medias@infc.gc.caFollow us on Twitter, Facebook, Instagram And LinkedInWebsite: Infrastructure Canada

    Media RelationsFortisAlbertaPeter BrodskyManager, Public Affairs and Corporate Communications403-514-4040peter.brodsky@fortisalberta.com

    Media RelationsCanadian Urban Transit Research and Innovation Consortium (CUTRIC)Rachael D’AmoreTalk Shop Mediarachael@talkshopmedia.com

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

    MIL Translation OSI

  • MIL-OSI USA: Texas Hospital CEO to Pay Over $5.3M to Settle Kickback Allegations Involving Laboratory Testing

    Source: US State of Vermont

    Former hospital chief executive officer (CEO) Jeffrey Madison, of Georgetown, Texas, has agreed to pay $5,343,630 to resolve allegations under the False Claims Act involving illegal payments to physicians for laboratory referrals in violation of the Anti-Kickback Statute. Madison also has agreed to cooperate with the Justice Department’s investigations of, and litigation against, other participants in the alleged schemes.

    “The Justice Department will continue to pursue individuals — including C-suite executives — who commit health care fraud,” said Principal Deputy Assistant Attorney General Brian M. Boynton, head of the Justice Department’s Civil Division. “Kickbacks to physicians from laboratories or other healthcare providers can undermine healthcare decision-making, subject patients to unnecessary medical services and waste taxpayer funds.”

    The Anti-Kickback Statute prohibits offering, paying, soliciting or receiving remuneration to induce referrals of items or services covered by Medicare, Medicaid and other federally funded health care programs. The Anti-Kickback Statute is intended to ensure that medical providers’ judgments are not compromised by improper financial incentives and are instead based on the best interests of their patients.

    The settlement announced today resolves allegations in a lawsuit alleging that Madison, the former CEO of Little River Healthcare (Little River), a critical access hospital in Rockdale, Texas, caused the submission of false claims for laboratory testing to Medicare, Medicaid and TRICARE from January 2015 to June 2018. Madison allegedly agreed to a kickback scheme in which Little River paid commissions to recruiters who used purported management service organizations (MSOs) to pay kickbacks to doctors to induce their laboratory testing referrals to Little River. The settlement resolves allegations that Madison knowingly signed, and caused others to sign, false certifications in Medicare cost reports regarding Little River’s compliance with the Anti-Kickback Statute, and thereby caused the submission of false claims to federal health care programs.

    In addition, the settlement resolves allegations in the same lawsuit that, after defendant Doyce Cartrett Jr., M.D., of Silsbee, Texas, informed Little River of his potential laboratory testing referral volume, Madison agreed to have Little River pay Cartrett $2,000 per month in kickbacks disguised as purported medical director fees from February 2015 to May 2017, to induce Cartrett to shift his laboratory testing referrals to Little River. Madison allegedly agreed for Little River to pay the monthly fees, even though Little River did not receive any genuine medical director services from Dr. Cartrett.

    Madison did not contest, and accepted responsibility for, the allegations against him in the United States’ amended complaint. Under the terms of the settlement agreement, Madison was excluded from participating in federal healthcare programs for 25 years. The lawsuit is captioned United States, et al. ex rel. STF LLC v. True Health Diagnostics LLC et al., No. 4:16-cv-547 (EDTX).

    “Seeing past a corporate entity and holding individuals responsible for making the decisions to engage marketers to pay providers for their laboratory referrals is what justice requires,” said U.S. Attorney Damien M. Diggs for the Eastern District of Texas. “This settlement is a testament to our continued efforts to combat fraud against our federal healthcare programs and to hold accountable all participants who profited from knowingly violating the laws meant to guard against overutilization of medical services and protect the public fisc.”

    “Illegal kickback payments, even when disguised as medical director fees, undermine and corrupt the medical decision-making process,” said Special Agent in Charge Jason E. Meadows of the Department of Health and Human Services Office of Inspector General (HHS-OIG). “Both the payer and recipient benefit from these schemes, but it is ultimately the taxpayers who foot the bill. HHS-OIG will continue collaborating with law enforcement and prosecutors to protect the Medicare trust fund that millions of Americans depend on.”

    “Our nation’s uniformed military service members and their families should never have to question the integrity of their healthcare providers,” said Acting Special Agent in Charge Ryan Settle of the Department of Defense Office of Inspector General, Defense Criminal Investigative Service (DCIS), Southwest Field Office. “Medical decisions influenced by greed destroy the fundamental element of trust in patient care. This settlement reinforces the commitment the DCIS shares with our law enforcement partners and the Justice Department to pursue all available remedies against those who conspire to commit fraud against our Military Health System.”

    The settlement was the result of a coordinated effort between the Civil Division’s Commercial Litigation Branch, Fraud Section, and the U.S. Attorney’s Office for the Eastern District of Texas, with assistance from HHS-OIG and DCIS. The United States has recovered over $52 million relating to conduct involving MSO kickbacks to health care providers, which includes recoveries from 46 physicians.

    Trial Attorneys Christopher Terranova and Gavin Thole of the Civil Division’s Commercial Litigation Branch, Fraud Section, and Assistant U.S. Attorneys James Gillingham and Betty Young for the Eastern District of Texas handled the case.

    The government’s pursuit of this matter illustrates the government’s emphasis on combating health care fraud. One of the most powerful tools in this effort is the False Claims Act. Tips and complaints from all sources about potential fraud, waste, abuse and mismanagement can be reported to HHS at 1-800-HHS-TIPS (800-447-8477).

    Settlement

    MIL OSI USA News –

  • MIL-OSI USA: Sixty-Eight Defendants Charged in Indictment of Dozens of Members and Associates of California White Supremacist Gang

    Source: US State of Vermont

    Federal and local law enforcement today arrested 42 members and associates of the SFV Peckerwoods, a San Fernando Valley, California-based white supremacist street gang, on a 76-count federal grand jury indictment alleging they engaged in a years-long pattern of racketeering activity that included trafficking of drugs — including fentanyl — illegal firearms possession, and COVID-19 benefits and loan fraud.

    “The Justice Department has dealt a decisive blow to the San Fernando Valley (SFV) Peckerwoods, a violent white supremacist gang that we charge is responsible for trafficking deadly fentanyl and other drugs, committing robberies, and perpetrating financial fraud to fund both their criminal enterprise and that of the Aryan Brotherhood,” said Attorney General Merrick B. Garland. “With today’s charges and arrests, the Justice Department, together with our state, local, and federal partners has targeted the heart of this gang’s operations, and we will continue to zero in on the criminal enterprises that endanger our communities.”

    The indictment unsealed today charges a total of 68 defendants with a score of federal crimes: conspiracy to violate the Racketeer Influenced and Corrupt Organizations (RICO) Act, conspiracy to distribute controlled substances, distribution of controlled substances, bank fraud, conspiracy to commit bank fraud, aggravated identity theft, possession of a firearm in furtherance of a drug trafficking crime, unlawful possession of a firearm and ammunition by a felon, and possession of 15 or more unauthorized access devices.

    The defendants arrested today are expected to be arraigned this afternoon in U.S. District Court in downtown Los Angeles.

    During the investigation, law enforcement seized large quantities of illegal firearms, and dozens of pounds of fentanyl, methamphetamine, and heroin, according to the indictment.

    “The Peckerwoods’ violent white-supremacist ideology and wide-ranging criminal activity pose a grave menace to our community,” said U.S. Attorney Martin Estrada for the Central District of California. “By allegedly engaging in everything from drug-trafficking to firearms offenses to identity theft to COVID fraud, and through their alliance with a neo-Nazi prison gang, the Peckerwoods are a destructive force. In prosecuting the members of the Peckerwoods criminal organization, our office is carrying out its mission to protect the public from the most dangerous threats.”

    “This operation, led by our Joint Terrorism Task Force, disrupted a racially motivated violent extremist group who engaged in a wide range of criminal activity,” said Assistant Director in Charge Akil Davis of the FBI Los Angeles Field Office. “This case strikes at the heart of our collective mission to rid our communities of the corrosive elements that fuel violence and extremism that greatly impact our way of life. The FBI, along with our federal, state, and local partners, remains strongly committed to working every day to make sure the people of the Southland remain safe.”

    “The San Fernando Valley Peckerwoods, the Aryan Brotherhood, and their associates are fused by one thing: hatred,” said Special Agent in Charge Matthew Allen of the Drug Enforcement Administration (DEA) Los Angeles Field Division. “It appears, however, that the business of hate was not enough for them. Driven by greed, they engaged in other crimes, including drug distribution, pushing out deadly fentanyl onto our streets. Operating from corners of the San Fernando Valley, they conducted their crimes within and beyond the 8-1-8 community. Today’s large-scale indictments and arrests reflect our relentless commitment to dismantling criminal organizations that continue to harm our communities.”

    According to the indictment that a grand jury returned on Sept. 26, the Peckerwoods is a street gang based in communities in the San Fernando Valley whose members engage in a wide variety of criminal activity, including drug trafficking, violent crime, and fraud. As a white supremacist gang, the Peckerwoods at times takes orders from the Aryan Brotherhood, California’s dominant prison-based white supremacist gang, and maintains an alliance with the Mexican Mafia prison gang, which controls most Latino street gangs in California. The Peckerwoods use Nazi tattoos, graffiti, and iconography to indicate their violent white supremacy extremist ideology. These tattoos and iconography include swastikas, the symbol “88”, used by violent white supremacy extremists as code for “Heil Hitler”, and images of Nazi aircraft.

    Members and associates of the gang used social media to share information with each other about their criminal activities and gang rules, to identify gang members in good standing, and to target people who broke the gang’s rules. The social media use included a members-only Facebook group and private, direct messages between the gang’s members and associates.

    From at least December 2016 to September, Peckerwoods members conducted and participated in the affairs of their criminal enterprise by engaging in violence and threats of violence to preserve and expand the gang’s criminal operations, which promoted a climate of fear. Members and associates of the gang illegally maintained firearms and ammunition in furtherance of these aims.

    To generate revenue for the gang, its members trafficked narcotics, including fentanyl, heroin, and methamphetamine. Specifically, lead defendant Claire Patricia Haviland, 62, of Chatsworth, California, and co-defendants Brian Glenn Ekelund, 53, of Chatsworth, and Brianne Brewer, 38, of North Hollywood, California, maintained and oversaw drug stash houses where large quantities of fentanyl, heroin, methamphetamine, and other drugs were stored prior to distribution. Haviland and Ekelund allegedly mailed illegal drugs to customers and used applications such as Zelle and CashApp to receive money from drug buyers and send money to their drug sources.

    They also generated revenue via robberies and financial fraud and participated in identity theft schemes. For example, from at least March 2021 to July 2023, defendants Sean Craig Gluckman, 35, of Encino, California; Maria Anna James, 30, of Canyon Country, California; and others submitted false and fraudulent applications for the Paycheck Protection Program (PPP), which was designed to aid businesses harmed by the economic fallout from the COVID-19 pandemic. The defendants – posing as sole proprietors – signed fraudulent PPP loan applications on behalf of individuals incarcerated in California state prisons and collected a portion of the fraudulently obtained proceeds from co-conspirators as payment for their assistance.

    In April 2021, Gluckman submitted an application that falsely stated he was a self-employed “artist/writer” with a gross income of nearly $250,000. Later that month, he obtained a PPP loan in the amount of $20,833. In a separate scheme, Gluckman submitted fraudulent unemployment insurance (UI) applications in the names of other people to the California Employment Development Department (EDD) to fraudulently obtain jobless benefits.

    “The proliferation of gang related organized crime deteriorates the core of our society,” said Chief Dominic Choi of the Los Angeles Police Department. “Taking guns out of the hands of gang members and drugs from our streets is just one more step towards reducing this deterioration. Today is yet another example of how local, regional, and federal law enforcement, with a matched dedication, are working together to investigate, apprehend and prosecute criminals.”          

    “When criminal organizations cross jurisdictional lines, it makes conducting investigations and subsequent prosecutions much more difficult,” said Sheriff Jim Fryhoff of the Ventura County, California, Sheriff’s Office. “Having our federal law enforcement partners involvement in such cases greatly enhances our ability to protect not only the citizens of our county, but also those of our region of the state.”

    If convicted, the defendants face a maximum penalty of life in prison.

    The FBI, DEA, Los Angeles Police Department, and Ventura County Sheriff’s Office are investigating the case. The Simi Valley Police Department; California Highway Patrol; Glendale Police Department; Burbank Police Department; Redondo Beach Police Department; Beverly Hills Police Department; Los Angeles County Sheriff’s Department; U.S. Marshals Service; Bureau of Alcohol, Tobacco, Firearms and Explosives; Department of Veterans Affairs Police; Department of Labor; Federal Bureau of Prisons; Los Angeles County Probation Department; Los Angeles County Department of Children and Family Services; Pasadena Fire Department; U.S. Customs and Border Protection; and IRS Criminal Investigation provided assistance in the investigation.

    Assistant U.S. Attorneys Reema M. El-Amamy, Jeremiah M. Levine, and Alexander Su for the Central District of California are prosecuting this case.

    On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Justice Department in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit http://www.justice.gov/coronavirus.

    On Sept. 15, 2022, the Attorney General selected the U.S. Attorneys’ Offices for the Central and Eastern Districts of California to jointly head one of three national COVID-19 Fraud Strike Force Teams. The Justice Department established the Strike Force to enhance existing efforts to combat and prevent COVID-19 related financial fraud. The Strike Force combines law enforcement and prosecutorial resources and focuses on large-scale, multistate pandemic relief fraud perpetrated by criminal organizations and transnational actors, as well as those who committed multiple instances of pandemic relief fraud. The Strike Force uses prosecutor-led and data analyst-driven teams to identify and bring to justice those who stole pandemic relief funds. Additional information regarding the Strike Force may be found at http://www.justice.gov/opa/pr/justice-department-announces-covid-19-fraud-strike-force-teams.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Justice Department’s National Center for Disaster Fraud (NCDF) Hotline at (866) 720-5721 or via the NCDF Web Complaint Form at http://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News –

  • MIL-OSI USA: DHS’ 2025 Homeland Threat Assessment Indicates the Threat of Domestic and Foreign Terrorism in the Homeland Remains High

    Source: US Federal Emergency Management Agency

    Headline: DHS’ 2025 Homeland Threat Assessment Indicates the Threat of Domestic and Foreign Terrorism in the Homeland Remains High

    “The Homeland Security Assessment provides an important overview of the dynamic and evolving threat landscape, illustrating just how varied and challenging the threats we confront are,” said Secretary of Homeland Security Alejandro N. Mayorkas. “It is because of the remarkable DHS workforce, and our close collaboration with our federal, state, local, tribal, territorial, and private sector partners, that we are able to meet the challenges and keep the American people safe and secure.” 

    Assessments from the 2025 HTA: 

    • Public Safety and Security: The terrorism threat environment in the Homeland is expected to remain high over the coming year. This is due to a confluence of factors, including potential violent extremist responses to domestic sociopolitical developments — particularly the 2024 election cycle — and international events like the ongoing Israel-Hamas conflict. Lone offenders and small groups continue to pose the greatest threat. Meanwhile, foreign terrorist organizations, including ISIS and al Qa’ida maintain their enduring intent to conduct or inspire attacks in the Homeland. 
    • Illegal Drugs: Illegal drugs smuggled into and sold in the United States by transnational and domestic criminal actors continue to pose a lethal threat to communities in the United States. DHS has surged resources to address this threat, seized more fentanyl in the last two fiscal years than in the prior five years combined, and is investing in new technology to increase detection capabilities. Thanks to these and other efforts, the number of overdose deaths have declined by more than 10 percent in the 12 months leading up to April 2024 – the largest drop in overdose deaths in recorded history. That said, fentanyl and other synthetic opioids remain the most lethal of drugs trafficked into the country and continue to pose a national security threat. Adulterated cocaine and methamphetamine also pose a threat. 
    • Influence Operations and Transnational Repression: We expect the Homeland will face threats to public safety from state actors using subversive tactics in an effort to stroke discord and undermine confidence in U.S. domestic institutions. Malign foreign actors seek to target ethnic and religious minorities, political dissidents, and journalists in the United States to silence and harass its critics abroad. 
    • Border and Immigration Security: Migrant encounters at our border have steadily declined since the beginning of 2024 and have declined even further since the issuance of the Presidential Proclamation and complementary Interim Final Rule (IFR) were announced on June 4 – decreasing more than 55% in the past four months. We nonetheless expect some individuals with criminal connections to seek to continue to exploit migrants. DHS remains acutely focused on identifying those who may present a threat to public safety or national security and stopping them from entering the United States. 
    • Critical Infrastructure Security: Domestic and foreign adversaries are expected to continue to target our critical infrastructure via prepositioning, cyber, and physical attacks. The People’s Republic of China (PRC), Russia, and Iran are expected to remain the most pressing foreign threats to our critical infrastructure.  Nation-states, criminal hacktivists, and financially motivated criminals will likely hone their techniques to disrupt U.S. services or to conduct espionage focused on gaining access to U.S. networks and critical infrastructure entities. We assess that domestic and foreign violent extremists will continue to call for physical attacks on critical infrastructure in furtherance of their ideological goals and, in response to international conflicts and crises. 
    • Economic Security: Our adversaries – including the PRC – will continue non-market policies and practices, economic espionage and coercive economic tools, and illicit acquisition of technologies and intellectual property to undercut U.S. and partner competitiveness. 

    Operational components and offices across the Department are involved in combatting threats and working alongside our federal, state, and local partners. Some examples of these efforts include:  

    • DHS conducts screening and vetting of individuals encountered at the border to identify national security or public safety threats and refers any individuals who are identified as posing a threat to public safety or national security to the appropriate law enforcement authority for detention, removal, and potential prosecution. DHS continually monitors available sources of intelligence and law enforcement information to identify new threats and public safety risks. If and when any new information emerges, DHS, including ICE and CBP, works closely with the FBI and other partners to take appropriate action. 
    • In addition to biometric and biographic screening and vetting of every individual encountered, U.S. Customs and Border Protection (CBP) has expanded information sharing agreements with international partners to enhance their ability to prevent, detect, and investigate trafficking and other crimes. CBP’s National Targeting Center continuously works to detect individuals and travelers that threaten our country’s security, while also building a network of partner nations committed to fighting global threats. 
    • DHS, through CBP and Homeland Security Investigations (HSI), has stopped more illicit fentanyl and 
      arrested more individuals for fentanyl-related crimes in the last two fiscal years than in the previous five 
      years combined. 
    • DHS is leading the federal effort to combat fentanyl internationally, through information-sharing, 
      multinational enforcement operations, and global cooperation with federal, state, and local 
      partners and stakeholder to disrupt fentanyl networks within our communities. 
    • DHS has arrested over 3,600 subjects connected to fentanyl-seizure events, which directly 
      degrades the organized criminal networks responsible for bringing fentanyl into our communities, seized over 2,200 pill presses, and seized over 27,000 pounds of illicit fentanyl to stop it at our 
      borders and in our communities before it can hurt the American public. 

    MIL OSI USA News –

  • MIL-OSI Translation: Increasing energy efficiency of Elizabeth Métis Settlement community hall will improve this local gathering place

    MIL OSI Translation. Canadian French to English –

    Source: Government of Canada – MIL OSI Regional News in French

    Press release

    Elizabeth Métis Settlement, Alberta, April 29, 2024 — Upgrades to the local community hall will make this gathering place better and more energy efficient thanks to an investment of nearly $250,000 from the federal government.

    Announced by Minister Randy Boissonnault and Elizabeth Métis Settlement President Kathy Lepine, this project will improve the settlement’s main community centre, where people come together for cultural, recreational and local activities throughout the year.

    Improvements are underway to the Community Hall, which will reduce greenhouse gas emissions and maintenance costs through boiler replacements, smart thermostats, low-flow fixtures, and LED and solar-powered lighting. The Community Hall at Elizabeth Métis Settlement is located in the centre of the community and is widely used by local residents as a gathering place for social activities and celebrations. The hall is a communal gathering place for youth and seniors. It features a stage for performances, a kitchen, a nursing station, outdoor play areas, and baseball diamonds. Improvements to this central hub for community members will enhance the quality of life for all members of Elizabeth Métis Settlement.

    The funding announced today by the federal government through the Green and Inclusive Community Buildings program aims to improve the places where Canadians work, learn, play, live, and gather by reducing pollution, reducing costs, and supporting thousands of good jobs. Through green and other retrofits to existing public community buildings and new construction in underserved communities, these investments will help ensure community facilities are inclusive, accessible, and have a long service life, while also helping Canada achieve its net-zero emissions targets by 2050.

    Quotes

    “Transforming recreational spaces into green and accessible places is important if we are to support Canadians. Energy efficiency in the Prairies is essential to the economic development of communities. By improving parts of the Elizabeth Métis Settlement, our government is working to create a better quality of life through investments that will last for generations to come.”

    The Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

    “The natural environment has always been an important aspect of Métis culture. The Elizabeth Métis Settlement is proud to be part of Canada’s plan to reduce greenhouse gas emissions. On behalf of our people and future generations, we thank you for your work and the steps you have taken to keep our beautiful country clean, hee hee.”

    Kathy Lepine, President, Elizabeth Métis Settlement

    Quick Facts

    The federal government is investing $249,999 in this project through the Green and Inclusive Community Buildings (GICB) Program, and the Elizabeth Métis Settlement is providing $39,719.

    These improvements should allow annual fuel savings of around 47.30% for the facility and a reduction in greenhouse gas emissions of 79.30 tonnes.

    The Green and Inclusive Community Buildings (GICB) program was created to support Canada’s Strengthened Climate Plan: A Healthy Environment and a Healthy Economy. It supports the first pillar of the Plan by reducing greenhouse gas emissions, increasing energy efficiency and helping to build resilience to climate change.

    The program provides $1.5 billion over five years for modernization, repair or improvement work that promotes the environment and accessibility.

    At least 10 percent of the funds are allocated to projects for First Nations, Inuit and Métis communities, which includes Indigenous populations in urban centres.

    The application period for the Green and Inclusive Community Buildings program is now closed.

    On December 18, 2023, the federal government launched the Prairie Green Economy Framework, which highlights the need for a collaborative, regional approach to sustainability, focused on strengthening the coordination of federal programs and initiatives with significant investments. The Framework is the first step in a journey that will bring together many stakeholders. PrairiesCan, the federal department responsible for diversifying the economy in Canada’s Prairies, is providing $100 million over three years to support projects aligned with priority areas identified by Prairie stakeholders to create a stronger, more sustainable and inclusive economy for the Prairie provinces and Canada.

    Infrastructure Canada supports the Prairie Green Economy Framework to encourage greater collaboration on investment opportunities, leverage additional funding and attract new investment to the Prairies to better meet their needs.

    Related links

    Contact persons

    For further information (media only), please contact:

    Micaal Ahmed Manager, CommunicationsOffice of the Minister of Housing, Infrastructure and Communities343-598-3920micaal.ahmed@infc.gc.ca

    Media Relations Infrastructure Canada613-960-9251Toll free: 1-877-250-7154Email: media-medias@infc.gc.caFollow us on Twitter, Facebook, Instagram And LinkedInWebsite: Infrastructure Canada

    Deloris Courtepatte Project ManagerElizabeth Métis Settlement587-986 0020courtepatteconsulting@gmail.com

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

    MIL Translation OSI

  • MIL-OSI USA: Cassidy Meets Employees at CF Industries and Essential Federal Credit Union

    US Senate News:

    Source: United States Senator for Louisiana Bill Cassidy

    BATON ROUGE – Yesterday, U.S. Senator Bill Cassidy, M.D. (R-LA) visited CF Industries’ ammonia production facility in Donaldsonville, and later the Essential Federal Credit Union in Baton Rouge. During both visits, he learned how Louisianans are supporting small businesses and both the local and global economies.

    At CF’s Donaldsonville Complex, Cassidy learned about its capability of producing nearly 8 million tons of nitrogen products for agricultural and industrial use. CF uses the facility’s access to the Mississippi River and other modes of transportation to ship its products to major crop-producing states in the interior of America. They also utilize ocean-going vessels to Europe, South America, and Asia. 
    CF is also working to produce green ammonia and sequester carbon that would otherwise be released into the atmosphere as it produces its products. Thanks to their efforts, they will capture and sequester up to 2 million metric tons of carbon dioxide from its Donaldsonville Complex by 2025. This is in line with Cassidy’s Infrastructure Investment and Jobs Act (IIJA), which provided $5.1 billion to invest in carbon capture, utilization, and storage technology.
    “CF Industries and its employees have done more than anyone else in the world to make clean products,” said Dr. Cassidy. “Efforts like this help put the United States at a competitive advantage. We need to do more of this to create more jobs and make a competitive economy.”

    CF’s Donaldsonville Complex supports 566 permanent employees and 640 contractors, generates $16.8 million in annual state and parish sales taxes, and provided $430 million to local suppliers last year. Cassidy was welcomed there by Mr. Morris Johnson, General Manager for the facility.
    “At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably,” said Mr. Johnson. “To achieve this mission, we are investing in the decarbonization of our network with significant projects underway right here in Ascension Parish at our Donaldsonville Complex, located in the heart of this community we’ve called home for nearly 60 years. We thank Senator Cassidy for his visit to our site and his work on behalf of Donaldsonville and Louisiana through forward-leading competitiveness, energy and trade policies.”

    Later, Cassidy visited the Essential Federal Credit Union, which was chartered in 1972 by a group of Dow Chemical employees and now has more than 46,000 members and $378 million in assets. Cassidy met with Essential’s employees, and also with executives from other local credit unions who discussed how they’re serving their members. He discussed his efforts to preserve the Tax Cuts and Jobs Act of 2017, make flood insurance rates affordable, and invest in high-speed broadband and water and sewer projects for Louisiana’s rural communities.
    “Our credit unions always know how their communities are doing, since people go to them to finance a house or a small business,” said Dr. Cassidy. “By making flood insurance affordable and investing in rural broadband, we can help more families buy a home or grow their business, which makes our credit unions stronger.”

    Cassidy participated in a roundtable with credit union directors from across Louisiana. He was welcomed by Mr. Anthony Ware, II, Director of Legislative Advocacy for the Louisiana Credit Union Association, of which the Essential Federal Credit Union is a member.
    “Thank you, Senator Cassidy, for taking the time to meet with the Louisiana Credit Union Association powered by Luminate, and visiting Essential Federal Credit Union today,” said Mr. Ware. “We truly appreciate you taking the time to hear from credit unions on the issues that are important to us and vital to helping Louisiana residents. We value your continued support of credit unions as we serve our members and strengthen our communities.”

    MIL OSI USA News –

  • MIL-OSI NGOs: One year of war without rules leaves Gaza shattered News Oct 02, 2024

    Source: Doctors Without Borders –

    NEW YORK/JERUSALEM, October 2, 2024 — One year into the escalation of war in Gaza, the medical and humanitarian situation is catastrophic, said Doctors Without Borders/Medecins Sans Frontieres (MSF). Israel’s all-out war and punishing siege have destroyed Gaza’s already fragile health system, repeatedly displaced people who have been forced into smaller and smaller areas, and choked off access to desperately needed food, water, and medicines. 

    On October 7, 2023, Hamas militants launched a horrific attack inside Israel, leaving 1,200 people dead and taking 251 people as hostages. In response, the Israeli military launched an assault on Gaza that has so far killed more than 41,500 people, wounded 96,000, and displaced approximately 1.9 million people. Violence has since surged in the West Bank, in Lebanon, and across the region. 

    Widespread destruction in Gaza following Israel bombardments on October 9, 2023.
    Palestine 2023 © MSF

    “This has been a year of unrelenting horror and violence against civilians, with no end in sight,” said Avril Benoît, chief executive officer of MSF USA. “As this conflict spreads across the region, we repeat our urgent call for an immediate ceasefire in Gaza. This is the only way to stop the spiraling violence and bring lifesaving care to people who are struggling to survive.” 

    Medical needs of Palestinians in Gaza

    Palestinians in Gaza are suffering from war wounds, infectious diseases, malnutrition, and mental trauma while living in overcrowded and inhumane conditions. MSF medical staff have treated patients on a daily basis with wounds caused by bombings. People have extensive burns, crushed bones, and amputated limbs—all of which require intensive and long-term care that is not possible under current conditions. Since the escalation of war last October, MSF teams have treated more than 27,500 patients for violence-related injuries, with more than 80 percent of the wounds linked to shelling. 

    Our teams have been forced to perform surgeries without anesthesia, witness children die on hospital floors due to a lack of resources, and even treat their own colleagues and family members. Meanwhile, the health care system in Gaza has been systematically dismantled by Israeli forces.

    Dr. Amber Alayyan, MSF medical program manager

    “Israeli bombardments of densely populated areas have repeatedly caused injuries on a massive scale,” said Dr. Amber Alayyan, MSF medical program manager. “Our teams have been forced to perform surgeries without anesthesia, witness children die on hospital floors due to a lack of resources, and even treat their own colleagues and family members. Meanwhile, the health care system in Gaza has been systematically dismantled by Israeli forces.”

    Well before October 7, MSF was already treating people in Gaza suffering from the effects of Israel’s 17-year occupation, blockade, and recurrent attacks. Teams have cared for patients with life-altering physical injuries, severe burns, and mental health conditions.

    Attacks on health care leave few medical options

    As medical needs are growing exponentially, people’s options for care are shrinking. Israeli forces have committed widespread and systematic attacks on Gaza’s health care system and other vital civilian infrastructure. The health care system is now on the edge of collapse. Today, only 17 out of 36 hospitals are partially functional. Warring parties have conducted hostilities near medical facilities, endangering patients, caretakers, and medical staff. Six MSF colleagues have been killed. From October 2023, staff and patients from MSF have had to leave 14 different health structures, due to serious incidents and ongoing fighting. Each time a medical facility is evacuated, thousands of people lose access to lifesaving medical care. This will have consequences on people’s health, not just in the immediate term, but in the weeks and months to come.

    Destruction at Nasser Hospital following Israeli forces’ siege of the facility earlier this year. Palestine 2024 © Ben Milpas/MSF

    The lack of access to health care is compounded by the lack of humanitarian and medical supplies in Gaza. Israeli authorities have routinely imposed unclear, unpredictable criteria for authorizing the entry of supplies. Once supplies cross into the Gaza Strip, they often do not make it to their destination, due to an absence of safe and accessible roads, ongoing fighting, and looting of food and basic items. The first step in addressing this is for Israel to open vital land borders to ensure massive humanitarian and medical aid can reach those in need. The blockade on Gaza must end.  

    Displaced Palestinian children fill buckets from water during an MSF water distribution in Rafah’s Al Shaboura neighborhood. Water has been extremely scarce in Gaza since the start of the war due to Israel’s tightening of its blockade and restrictions.
    Palestine 2024 © MSF

    The US has a responsibility to ensure its support is not used to harm civilians 

    “For one year, Israel’s allies have continued to provide their military support to Israel, as children are killed en masse, tanks fire on deconflicted shelters, and fighter jets bomb so-called humanitarian zones,” said Chris Lockyear, MSF’s secretary general. “This has been accompanied by a consistent public narrative dehumanizing people in Gaza and failing to distinguish between military targets and civilian lives. The only way to stop the killing is with an immediate and sustained ceasefire.”

    Israel and Hamas, supported by their respective allies, have failed time and time again to implement a sustained ceasefire in Gaza. While the US led efforts in June to secure passage of a ceasefire resolution by the UN Security Council, it has vetoed previous resolutions brought by other Council members and continues to provide arms to Israel. Israel must immediately stop the indiscriminate killing of civilians in Gaza and urgently facilitate the delivery of aid to alleviate suffering inside the Strip—and its allies must demand they do so. Under international norms and laws, civilians must be protected from violence and have the right to access humanitarian assistance, especially medical care. 

    As a leading ally of Israel, the US has a particular responsibility to ensure that its support is not used to kill and maim civilians, attack hospitals and health workers, and block the delivery of humanitarian aid in Gaza.

    Avril Benoît, chief executive officer of MSF USA

    “The US remains the leading provider of military and financial support to Israel, fueling the destruction of Gaza and the resulting humanitarian crisis,” Benoît said. “As a leading ally of Israel, the US has a particular responsibility to ensure that its support is not used to kill and maim civilians, attack hospitals and health workers, and block the delivery of humanitarian aid in Gaza.”

    In Gaza, MSF is currently running medical activities in two hospitals, Al-Aqsa and Nasser Hospitals, eight health care facilities, and two field hospitals in Deir al-Balah. Field hospitals cannot replace the health care system that Israel has dismantled in Gaza. Since the beginning of the war, MSF teams have offered surgical support, wound care, physiotherapy, maternity and pediatric care, primary health care, vaccination, mental health services, and water distribution. 

    MIL OSI NGO –

  • MIL-OSI Translation: Calgary’s South Fish Creek Complex Receives Funding for Green Improvements

    MIL OSI Translation. Canadian French to English –

    Source: Government of Canada – MIL OSI Regional News in French

    Press release

    Calgary, Alberta, May 2, 2024 — Energy upgrades are coming to the South Fish Creek complex thanks to a joint investment of more than $1.2 million from the federal government, the YMCA of Calgary and the complex’s partners.

    Announced by MP George Chahal and Shannon Doram, President and CEO of the YMCA of Calgary, this project will extend the life of the facility and improve energy efficiency. The South Fish Creek complex has served the needs of Calgarians for over twenty years. These renovations will extend the life of the facility, improve air quality and energy efficiency, and reduce greenhouse gas emissions. By replacing the systems that keep the complex running, the YMCA will be able to continue to provide important services and programs that meet the needs of children, youth, newcomers and residents of all ages and backgrounds.

    The YMCA of Calgary will replace its current heating systems with more efficient models and upgrade air handling units. These upgrades are expected to generate cost savings that can be reallocated to meet the community’s future needs. The upgrades will allow the systems that help operate the complex to adapt to a changing environment, maintaining a comfortable atmosphere and improved air quality during the cold winter months and the scorching summer months.

    The Green and Inclusive Community Buildings (GICB) program aims to improve the places where Canadians work, learn, play, live and gather by reducing pollution and costs, while supporting thousands of good jobs. By making green and other improvements to existing public community buildings and constructing new buildings in underserved communities, the Green and Inclusive Community Buildings program helps ensure the inclusivity, accessibility and longevity of community facilities, while helping Canada achieve its net-zero emissions targets by 2050.

    Quotes

    “The Shawnessy YMCA plays an important role in our community by preparing our children, youth, newcomer neighbours and people of all ages and backgrounds for success. The Green and Inclusive Community Buildings program encourages innovative and clean solutions to help Canada adapt to a greener, lower-carbon economy. With the funding announced today, the South Fish Creek complex will be able to continue to meet the needs of Calgarians for years to come.”

    George Chahal, Member of Parliament for Calgary Skyview, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

    “The Shawnessy YMCA is an important community hub that provides Calgary’s rapidly growing southwest quadrant with a place to play, grow and connect. The Government of Canada’s investment through the Green and Inclusive Community Buildings Program will enable the YMCA Calgary to be more energy efficient and help us deliver the programs and services that are essential to building vibrant communities for years to come. We are pleased to partner with the Government of Canada to address climate change and build community resilience.”

    Shannon Doram, President and CEO of the YMCA of Calgary

    “As the building owner of the South Fish Creek Recreation Centre, the City of Calgary is pleased with the energy efficiency upgrades made by the YMCA of Calgary. Not only will these upgrades ensure the facility will be available for future generations of Calgarians, they will also reduce the building’s carbon footprint. Addressing climate change is a strategic priority for the City of Calgary, and supporting our partners to reduce emissions is a key part of delivering on City Council’s commitment.”

    Tim Mowrey, Manager, Recreation, Sports and Community Partners, City of Calgary

    Quick Facts

    The federal government is investing $979,800 in this project through the Green and Inclusive Community Buildings (GICB) Program, and the YMCA of Calgary is providing $244,950.

    These improvements are expected to result in annual fuel savings of approximately 20.5% for the facility and a reduction in greenhouse gas emissions of 268 tonnes.

    The Green and Inclusive Community Buildings (GICB) program was created to support Canada’s Strengthened Climate Plan: A Healthy Environment and a Healthy Economy. It supports the first pillar of the Plan by reducing greenhouse gas emissions and increasing energy efficiency, and by helping to build resilience to climate change.

    The program provides $1.5 billion over five years for modernization, repair or improvement work that promotes the environment and accessibility.

    At least 10% of the funds are allocated to projects for First Nations, Inuit and Métis communities, which includes Indigenous populations in urban centres.

    The application period for the Green and Inclusive Community Buildings program is now closed.

    On December 18, 2023, the federal government launched the Prairie Green Economy Framework, which highlights the need for a collaborative, regional approach to sustainability, focused on strengthening the coordination of federal programs and initiatives with significant investments. The Framework is the first step in a journey that will bring together many stakeholders. PrairiesCan, the federal department responsible for diversifying Canada’s Prairie economy, has committed $100 million over three years to support projects aligned with priority areas identified by Prairie stakeholders to create a stronger, more sustainable and inclusive economy for the Prairie provinces and Canada.

    Infrastructure Canada supports the Prairie Green Economy Framework to encourage greater collaboration on investment opportunities, leverage additional funding and attract new investment to the Prairies to better meet needs.

    Related links

    Contact persons

    For further information (media only), please contact:

    Micaal Ahmed Manager, CommunicationsOffice of the Minister of Housing, Infrastructure and Communities343-598-3920micaal.ahmed@infc.gc.ca

    Media Relations Infrastructure Canada613-960-9251Toll free: 1-877-250-7154Email: media-medias@infc.gc.caFollow us on Twitter, Facebook, Instagram And LinkedInWebsite: Infrastructure Canada

    Dean Paddock Vice President, Community EngagementYMCA of CalgaryDean.Paddock@calgary.ymca.ca

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

    MIL Translation OSI

  • MIL-Evening Report: OECD comparisons reveal an unflattering picture of inequality in NZ – could that change?

    Source: The Conversation (Au and NZ) – By Colin Campbell-Hunt, Emeritus Professor in Business, University of Otago

    Getty Images

    Recent research showing the richest New Zealanders pay less tax than their counterparts in nine similar OECD countries raises, yet again, serious questions about wealth, equality and fairness.

    How unequal is the distribution of income in New Zealand? How do we compare with some of the countries we might benchmark against? And, if we don’t like what we see, can we change it?

    The metric most widely used by economists to measure inequality in incomes is called the Gini coefficient (named after the Italian statistician Corrado Gini who developed it).

    It brings together income data across all households, typically divided into groupings of 10% or 20% of the total. When there is no inequality of incomes between groups, Gini equals zero. When the top group captures all income, Gini equals 1.

    Measuring inequality

    The graph below shows Gini coefficients, before taxes and welfare payments (known as “transfers”), for all 37 countries in the OECD in 2019 (before the COVID pandemic disrupted household surveys). Ginis are ranked left to right, from least to most unequal.

    The Gini before taxes and transfers is a measure of the inequality produced by the structures of a country’s economy: the way value chains operate, the markets for products and services, the scarcity of certain skills, rates of unionisation, and so on.

    This gives us a measure of structural inequalities in a country. Governments, however, use taxes and transfers to shift income between households. They take taxes from some and boost incomes of the more disadvantaged.

    Ginis of incomes after taxes and transfers give us a measure of how well members of a society can support similar standards of living. They are shown in the following graph, again from least to most unequal. These give us a measure of social inequalities.

    Focusing just on social inequality, it is no surprise Scandinavian countries are among the least unequal, as well as Canada and Ireland. Neither is it surprising the UK and US approach the highest levels of social inequality in the OECD.

    Inequalities in Australia and New Zealand lie between these, but further from the Scandinavians and closer to the Anglo-Americans.

    Social inequality in NZ

    When we look at the difference between structural and social inequalities, we can see the extent to which taxes and transfers – government redistribution of income – reduce inequality.

    As we can see, New Zealand’s structural inequality, shaped by the economic reforms of the mid-1980s, is middling by comparison to other OECD countries.

    But New Zealand’s social inequality lies near the bottom third of OECD measures. A halving of top income tax rates in the mid-1980s and the rollback of the welfare state in the 1990s (after then finance minister Ruth Richardson’s 1991 “mother of all budgets”) significantly contributed to this.

    The downward columns in the following graph show the effect of government redistributive measures, ranked from most to least active. The result of these government redistributions in New Zealand is weaker even than in the laissez-faire economies of the United Kingdom and United States.

    Where does NZ sit?

    How do New Zealand’s inequalities compare with countries we might choose to benchmark against?

    Below, the Scandinavian countries famous for their egalitarian social systems are shown in orange. In green are countries that tolerate slightly higher social inequality: Sweden, Canada and Ireland.

    And the UK and US – exemplars of free-market capitalism that were the models for New Zealand’s reforms of the mid-1980s – are highlighted in grey.

    Reducing inequality

    How hard would it be to change? Could New Zealand, for example, reduce its level of social inequality to match Canada? Absolutely, yes.

    Other OECD data show Canada significantly cut its inequalities between 2010 and 2019. The country moved from a position identical to Luxembourg (haven for Europe’s wealthy) to be roughly level with Sweden.

    To match Canada’s level now, New Zealand would need to reduce structural inequalities further, or redistribute about as much as Norway and Denmark do. It can be done, in other words.

    Indeed, Finland shows government redistributions can transform some of the worst levels of structural inequality to produce outcomes comparable to other Scandinavian countries.

    New Zealand can aspire to goals for social equality matching those in the upper half of OECD countries. Beyond revisions to taxation and transfers, inequalities in health and education would also need to come down to reduce the social and economic costs of poverty and disadvantage that should bring shame to us all.

    The author acknowledges the contribution of data provided by Max Rashbrooke.

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

    – ref. OECD comparisons reveal an unflattering picture of inequality in NZ – could that change? – https://theconversation.com/oecd-comparisons-reveal-an-unflattering-picture-of-inequality-in-nz-could-that-change-239306

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Reportage: Education key to open banking success, BNZ survey finds

    Source: BNZ statements

    While many New Zealanders have heard of open banking, few understand its benefits, according to new research from BNZ.*

    Open banking gives bank customers the power to control and securely share their financial data with trusted third parties like fintechs.

    Access to that data means banks and fintechs can create highly tailored products and services, such as apps that offer insights into spending habits, budget planning and savings goals, or that instantly share financial information with multiple lenders, making it easier and faster to apply for a loan.

    “Our survey found that while 60% of respondents have heard of open banking, only a quarter (26%) have some understanding of what it means,” says Karna Luke, BNZ Executive, Customer Products and Services.

    “However, after learning more about its capabilities, nearly three-quarters (73%) expressed an interest in using open banking services.

    “This shows that New Zealanders are very open to new ways of managing their finances but need the right information to feel confident about using the technology,” says Luke.

    The survey also shed light on some risky practices highlighting a need for greater education. Two-thirds (66%) of respondents reported having used payment services that rely on screen scraping. This practice puts users’ data at risk by requiring them to share their online banking login credentials with third parties to access certain services.

    “Open banking provides a safe and secure way to share your financial data with trusted third parties without ever having to disclose your banking login details. It’s much more secure than screen scraping, but our survey shows a big gap between awareness and understanding of open banking’s benefits, particularly around security,” says Luke.

    Bridging the knowledge gap

    Luke says education is key to building the trust and confidence needed to drive greater adoption of open banking and realise its benefits.

    “At BNZ, we’ve been collaborating with fintechs since 2018 to develop innovative products and services that showcase open banking’s potential, and we’ve developed content and resources to inform and engage our customers about the benefits. Already, more than 250,000 BNZ customers are using apps and other services made possible through open banking.”

    “While we’ve made good progress, there’s still more work to be done to educate New Zealanders about the benefits of open banking and build trust in its capabilities. This will be crucial to ensure that everyone can take advantage of the huge potential open banking offers.”

    Luke highlighted the importance of the Consumer Data Right (CDR), which is currently progressing through Parliament as part of the Customer and Product Data Bill. The CDR sets rules around how customer data is shared and managed and ensures legal safeguards are in place to protect New Zealanders.

    “While banks have been working hard to build the technology needed for open banking, the CDR will provide the rules and protections necessary to ensure people feel secure and confident using these new services,” Luke says.

    “The Government’s commitment to investigate opportunities for early adoption of open banking by government agencies, in line with recommendations from the Commerce Commission, is also a welcome move which could significantly boost public trust and understanding.

    “We’re committed to working alongside regulators and the wider industry to ensure that open banking delivers on its promise of greater financial empowerment and choice for all New Zealanders.”

    For more information about open banking and BNZ’s initiatives, visit bnz.co.nz/openbanking.

    *Source:  BNZ Voice customer panel survey, 18th to 28th July 2024. Total responses: n=355. The profile of participating customers was not controlled for this survey.

    The post Education key to open banking success, BNZ survey finds appeared first on BNZ Debrief.

    MIL OSI Analysis –

  • MIL-Evening Report: Return-to-office mandates may not be the solution to downtown struggles that Canadian cities are banking on

    Source: The Conversation (Au and NZ) – By Alexander Wray, PhD Candidate in Geography, Western University

    In recent months, many Canadian employers in both the public and private sectors have implemented return-to-office mandates, requiring workers that transitioned to remote or hybrid work during the COVID-19 pandemic to work in-person again.

    Employers are justifying these mandates by arguing they improve productivity, build more collaborative teams and improve mentorship for junior employees.

    Employers are not the only group ecstatic about these mandates. Municipalities and business owners are also expressing hope that the presence of office workers will spin off into greater consumer spending at restaurants and other businesses near office buildings. The expectation is that office workers will once again start spending money on coffee, lunch or after-work beverages.

    In 2022, the mayor of Ottawa partially blamed the downtown core’s economic struggles on the fact that federal public service workers were still largely working remotely. Federal workers have since been mandated to return to work in-person three days a week in late fall.

    The Canadian Federation of Independent Business similarly criticized the slow return to offices as a leading factor behind why small and medium-size businesses, especially restaurants and bars, are facing challenges in downtown areas.

    Insight into restaurant success

    During the pandemic, there were predictions that more than half of Canada’s independent restaurants would fail as part of their customer base — office workers — shifted to working from home.

    Our recent study investigated which operational, demographic and land use factors affected restaurant survival during the first year of the pandemic in London, Ont.

    We found no significant differences between restaurants that failed and restaurants that survived based on proximity to office uses. Instead, operational decisions made by restaurants individually were much more predictive of their survival than any geographic factor, including the presence of offices.

    Restaurants are seen along Richmond Street in downtown London, Ontario, in June 2021.
    (Alexander Wray), CC BY-NC-SA

    We found that restaurants located in areas receiving more CERB (Canadian Emergency Response Benefit) payments, and with a higher density of entertainment venues around them, were less likely to survive.

    Restaurants that adapted by offering pickup and delivery options were more likely to survive, though only for those that did their own delivery in-house rather than relying on platforms like UberEats and SkipTheDishes. Restaurants that had drive-thrus, held liquor licenses, or had been established for more than five years were more likely to survive. These older, more established restaurants were likely more resilient because of financial stability and customer loyalty.

    Table-service restaurants fared better than fast food outlets, likely because they could offer large patio dining spaces during the summer. Restaurants with liquor licenses substantially benefited, especially after a regulatory change by the Ontario government that allowed alcohol sales with takeout and delivery — a first for the province.

    In short, restaurant success was driven more by individual business decisions rather than being in a specific location. People working remotely instead of in the office did not significantly affect restaurant survival during the first year of the pandemic.

    Downtown struggles

    As Canadian downtowns look to recover, many face ongoing challenges. Activity levels are down by about 20 per cent from pre-pandemic levels in many places, lagging behind many similarly sized downtowns in the United States.

    This downturn has been partially attributed to a combination of higher office building vacancies and fewer workers downtown. For the first time, downtown office vacancy rates have exceeded suburban rates in the Greater Toronto Area. There has also been tremendous housing growth within many downtown cores.

    At the same time, downtowns have become a highly visible focal point of Canada’s growing addictions, mental health and housing crises. The pandemic fully revealed the deeper social, economic and health challenges happening in Canadian society.

    While violent incidents are rare, the social incivilities and disorder on display — public urination and defecation, open drug use, visible tents and property crime — contributes to a perception that Canadian downtowns are unsafe. This perception, whether accurate or not, has an impact on the willingness of people to engage with their downtowns.

    A way forward

    The damage to the reputation of Canada’s downtowns has been done. Downtown London now has the highest office vacancy rate in the country. The Workplace Safety Insurance Board of Ontario, for instance, recently chose to consolidate its offices in the outskirts of London, rather than downtown.

    Many people now elect to spend their time and money in areas that have embraced the “experience economy.” These are places that provide highly manicured entertainment and shopping destinations, with restaurants being the bedrock of enabling high quality experiences in these areas.

    Foot traffic is at an all-time high in suburban shopping centres. The downtowns of cities that are widely known as global tourist destinations — Las Vegas, Miami and Nashville — have activity levels close to or higher than their pre-pandemic levels.

    These are places that are developing highly attractive economies that provide people with the safe, fun and exciting experiences they are looking for locally and internationally. Instead of trying to force unwilling workers back to the office, Canadian cities should instead focus on developing downtowns that people genuinely want to visit and experience.

    One potential way to do this is to provide wrap-around support services and direct pathways to stable housing across the entire community, as the City of London has done. By spreading care and outreach services across the entire city, rather than concentrating them exclusively in downtown areas, the negative effects from Canada’s homelessness crisis can be reduced on urban cores.

    This type of strategy will direct those who need help away from downtowns, and may even permanently lift them out of poverty. In turn, Canadian downtowns can return to being places for everyone to shop, eat, relax, and work in comfort.

    Alexander Wray is President of the Town and Gown Association of Ontario, and a Board Member of Mainstreet London.

    Jamie Seabrook, Jason Gilliland, and Sean Doherty do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Return-to-office mandates may not be the solution to downtown struggles that Canadian cities are banking on – https://theconversation.com/return-to-office-mandates-may-not-be-the-solution-to-downtown-struggles-that-canadian-cities-are-banking-on-239682

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: SBA Provides Critical Disaster Assistance to Help Georgians Recover from Hurricane Helene

    Source: United States Small Business Administration

    WASHINGTON – Low-interest disaster loans from the U.S. Small Business Administration (SBA) are available to businesses and residents in Georgia following the announcement of a Presidential disaster declaration for Hurricane Helene that began on Sept. 25.

    “SBA’s mission-driven team stands ready to help small businesses and residents in Georgia impacted by this disaster in every way possible under President Biden’s disaster declaration for certain affected areas,” said SBA Administrator Isabel Casillas Guzman. “We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.”

    The disaster declaration covers Appling, Atkinson, Bacon, Ben Hill, Berrien, Brooks, Bulloch, Burke, Candler, Chatham, Clinch, Coffee, Colquitt, Columbia, Cook, Echols, Emanuel, Evans, Glascock, Irwin, Jeff Davis, Jefferson, Jenkins, Johnson, Lanier, Laurens, Liberty, Lincoln, Lowndes, McDuffie, Montgomery, Pierce, Richmond, Screven, Tattnall, Telfair, Toombs, Treutlen, Ware, Washington and Wheeler; which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans (EIDLs): Baldwin, Bleckley, Brantley, Bryan, Charlton, Dodge, Effingham, Elbert, Hancock, Long, McIntosh, Mitchell, Thomas, Tift, Turner, Twiggs, Warren, Wayne, Wilcox, Wilkes, Wilkinson and Worth counties in Georgia; Baker, Columbia, Hamilton, Jefferson and Madison in Florida; Aiken, Allendale, Barnwell, Edgefield, Hampton, Jasper and McCormick in South Carolina.

    Disaster survivors should not wait to settle with their insurance company before applying for a disaster loan. If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay the loan.

    Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.  

    For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.

    Disaster loans up to $500,000 are available to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace disaster-damaged or destroyed personal property.

    Interest rates are as low as 4% for businesses, 3.25% for nonprofit organizations, and 2.813% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and monthly payments are not due, until 12 months from the date of the initial disbursement. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

    Building back smarter and stronger can be an effective recovery tool for future disasters. Applicants may be eligible for a loan amount increase of up to 20% of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain or retaining wall to help protect property and occupants from future disasters.

    “SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” said Francisco Sánchez, Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.” 

    With the changes to FEMA’s Sequence of Delivery, survivors are now encouraged to simultaneously apply for FEMA grants and SBA low-interest disaster loan assistance to fully recover.  FEMA grants are intended to cover necessary expenses and serious needs not paid by insurance or other sources. The SBA disaster loan program is designed for your long-term recovery, to make you whole and get you back to your pre-disaster condition.  Do not wait on the decision for a FEMA grant; apply online and receive additional disaster assistance information at sba.gov/disaster.

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

    The filing deadline to return applications for physical property damage is Nov. 29, 2024. The deadline to return economic injury applications is June 30, 2025.

    ###

    About the U.S. Small Business Administration 

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

    MIL OSI USA News –

  • MIL-OSI USA: SBA Tops $60 Million in Disaster Assistance Loans for Severe Storms, Flooding, Straight-line Winds and Tornadoes

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, announced today that SBA has approved more than $60 million in federal disaster loans for Iowabusinesses and residents impacted by severe storms, flooding, straight-line winds and tornadoes that occurred June 16–July 23. According to Sánchez, SBA has approved $10,075,000 for businesses and $49,984,200 for residents to help rebuild and recover from this disaster.

    “SBA’s disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible,” said Sánchez. Businesses and residents in Buena Vista, Cherokee, Clay, Dickinson, Emmet, Humboldt, Lyon, Monona, O’Brien, Osceola, Palo Alto, Plymouth, Pottawattamie, Scott, Sioux and Woodbury counties who sustained damages are encouraged to apply prior to the Oct. 22 deadline at SBA.gov/disaster. “Don’t miss out on any assistance you may be entitled to by not registering for help. You don’t need to wait for your insurance to settle or obtain a contractor’s estimate,” he continued.

    SBA continues to provide one-on-one assistance to disaster loan applicants at all the federal-state Disaster Recovery Centers and the SBA Business Recovery Center throughout the affected areas to explain SBA’s disaster loan program and help business owners and residents close their approved disaster loans.

    Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

    For small businesses and most private nonprofit organizations of all sizes, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage. The deadline to apply for economic injury is March 24, 2025.

    “SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” Sánchez added. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.”

    Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.

    Interest rates can be as low as 4 percent for businesses, 3.25 percent for private nonprofit organizations and 2.688 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

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

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

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News –

  • MIL-OSI New Zealand: Federated Farmers demand fairer debt solutions

    Source: Federated Farmers

    More than one in five Kiwi farmers say their bank isn’t allowing them to structure their debt in the most interest-efficient way.
    That’s a key finding put forward by Federated Farmers in its recent submission to Parliament’s banking inquiry.
    “New Zealand farmers are clearly under huge pressure from the banks because we had more than 1000 farmers come forward to share their frustrations with us,” Federated Farmers banking spokesperson Richard McIntyre says.
    “We’ve used that feedback in our submission, leaving the select committee in no doubt about what farmers are dealing with and how banking issues are affecting them.”
    McIntyre says it’s highly concerning to hear so many farmers (22%) haven’t been allowed to structure their debt to minimise interest payments as much as possible.
    “We also had another 18% of farmers tell us they’re unsure of their options.
    “In total, 40% of farmers either find their debt structure inefficient or aren’t receiving the information they need to improve it.
    “That’s something we need this inquiry to sort out – and fast.”
    McIntyre says another recurring theme in feedback from farmers is the lack of transparency and the one-size-fits-all approach banks take to lending.
    One significant issue is the pressure farmers feel to use overdrafts to manage debt repayments or fund capital projects – tasks overdrafts were never intended for.
    In fact, 12% of farmers say their bank has asked them to fund capital work using an overdraft.
    “This is unacceptable,” McIntyre says.
    “Overdrafts are designed for managing seasonal cash flow, not to burden farmers with higher-interest debt, which only serves to boost bank profits.”
    He says many farmers are stuck in overdraft facilities that never return to positive balances, with banks reluctant to offer more sustainable solutions.
    This creates a cycle of high-interest debt, leaving farmers financially strained over the long term.
    “This isn’t just bad practice – it’s bad faith,” McIntyre says.
    “Banks are prioritising profits over the long-term financial health of New Zealand’s farmers.”
    He emphasises that overdrafts should be a tool, not a trap.
    Farmers have reported that, even when it makes good business sense, they’re unable to convert overdraft debt into term debt.
    “The advantage for the bank is that overdrafts generate higher interest, and banks can call in the debt at any time,” McIntyre says.
    “This practice leaves farmers vulnerable, with overdraft rates often 3-4% higher than term debt.”
    Federated Farmers is calling for banks to provide fair access to more efficient debt structures, particularly term debt, which would allow farmers to plan for the long term.
    “Farmers aren’t asking for special treatment,” McIntyre says. “We just want a fair go.”
    Federated Farmers has been instrumental in securing an initial briefing on rural banking, led by the Primary Production Committee.
    This has now developed into a full inquiry into banking competition, led by Parliament’s Finance and Expenditure Committee.
    Federated Farmers will ensure farmers’ perspectives are taken seriously, pushing for real changes in New Zealand’s banking system, McIntyre says.
    He says Federated Farmers is incredibly grateful to the thousands of farmers who shared their experiences as part of the submission process.
    “Farmers want change, and they’ve added significant weight to our submission.
    “Their voices are the backbone of this submission, and they’ve given us the momentum we need to keep pushing for real solutions.”
    Federated Farmers is now preparing to present its oral submission to Parliament.
    “We’re not just here to highlight the problems,” McIntyre says. “We’re here to advocate for real solutions that will make a difference for every farmer in New Zealand.”
    “We’re 100% committed to ensuring the banking inquiry delivers meaningful change for rural banking.
    “We won’t stop until every farmer has access to banking that is fair, efficient, and on our terms.”

    MIL OSI New Zealand News –

  • MIL-OSI USA: Rep. Cuellar Announces $3,125,000 in Federal Funding to Hire 25 New Police Officers in Laredo

    Source: United States House of Representatives – Congressman Henry Cuellar (TX-28)

    Today, Congressman Henry Cuellar, Ph.D. (TX-28) announced $3,125,000 in federal funding to hire 25 new police officers in Laredo. This federal funding was awarded to the City of Laredo from the Office of the Community Oriented Policing Services (COPS Office) through the Department of Justice (DOJ) and is administered through the COPS Hiring Program (CHP).

    “It is essential that our local law enforcement agencies have the resources they need to protect our community,” said Congressman Cuellar, a senior member of the Appropriations Committee. “These federal dollars are vital for Laredo by enabling the city to hire more police officers – which will increase public safety, help prevent crime and add to the local economy. I would like to thank Laredo Mayor Dr. Victor Trevino and Chief of Police Miguel A. Rodriquez Jr., for working with me to deliver essential funding to Laredo. I would also like to thank Laredo law enforcement for the important work they do day in and day out to keep our community safe.”

    “We are deeply grateful for the Department of Justice’s support through the COPS grant, which will allow us to add 25 new officers to our ranks. This significant investment in our community’s safety underscores our commitment to enhancing public safety and fostering strong community relationships. With these additional resources, we are better equipped to address the needs of our growing city and ensure a safer environment for all residents. Additionally, I would like to thank and give credit to our city management, council, and mayor that supported this,” said Miguel A. Rodriguez Jr, Chief of Laredo Police

    The COPS program provides grants, training, and technical assistance to law enforcement agencies across the country as they work to reduce violent crime. 

    The COPS Hiring Program pays up to 75% of entry-level officer salary and up to $125,000 per position, with three years of funding over a five-year period. Local agencies must match at least 25% of the funding awarded. 

    These officers will be strategically placed in high-activity areas based on data. Their presence will disrupt criminal activity and make our streets safer.  Laredo PD will use a data-driven approach to adjust resources as needed. This flexibility ensures that we respond quickly to emerging issues. 

    Dr. Cuellar has long fought for Laredo law enforcement. Last year, Laredo received $1.875 million to hire 15 officers – totaling 40 new officers for the City of Laredo through the COPS Program in the past two years and 234 officers that the City of Laredo has been able to hire through the COPS Hiring Program from current and past program awards.

    ### 

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Apprentice Store Are On The Move

    Source: Scotland – Highland Council

    Managing Director David Massie pictured with Hagen Wagner, Highland Opportunity (Investments) Limited Investment Manager

    Highland Opportunity (Investments) Limited (HOIL) has recently provided The Apprentice Store Ltd with funding towards their ambitious business development. HOIL, The Highland Council’s business loan company, supports Highland based businesses and encourages applications from all business sectors, including community organisations. Interested businesses benefit from straightforward loan conditions and a tailored offer to support their project.  HOIL has financially supported more than 1,200 local start-up businesses, community organisations and growth projects within the Highland Business community since it was established in 1986.

    The Apprentice Store approached HO(IL) for a working capital loan of £25,000 to help achieve their growth aspirations.  Currently based in the Impact Hub in Castle Street, they are about to relocate to larger premises in Academy Street, where they will be the flag ship tenant of an innovative, vibrant and friendly co-working space in the centre of Inverness.

    The Apprentice Store was founded in 2016 and have a unique setup, whereby they support employment of young people and inclusivity on an apprenticeship basis, led by a number of mentors. To date, the company has trained and employed more than 23 young people. The business understands how important computer systems are in a modern business. From their Scottish base in Inverness they offer a range of quality remote IT services for small and medium sized businesses throughout the United Kingdom and Europe. 

    Councillor Paul Oldham, Chair of HOIL said: “The Apprentice Store’s way of working, that encourages young people to work in IT while staying in the Highlands rather than feeling they have to move away, has got to be good news for the Highland economy.

     “HOIL’s accessible and affordable business finance helps promote business across the area. It’s an important part of the Council’s aim to keep business vibrant and growing in the Highlands.”

    David Massie, Managing Director of the Apprentice Store Limited said: “The Apprentice Store approached HOIL to secure some funding and found the application process quick and easy to complete. This funding will help our social purpose of creating sustainable employment to young people who have challenges of entering the workforce. Our clients from across the UK in the public, private and sectors help support continuous employment by outsourcing their IT services to The Apprentice Store. Our team return on our client’s commitment by offering quality IT support and development services as they care about the opportunity offered to them by The Apprentice Store and its clients.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Partners launch revised timetable to improve reliability and connectivity of Wick John O’Groats Airport flights

    Source: Scotland – Highland Council

    The Highland Council and Eastern Airways have agreed a number of changes to scheduled flight times on the Wick-Aberdeen air route.

    The changes have been carefully considered to reduce cancellations and restore public trust. All partners have reiterated their commitment to protecting the service and retaining flights six days a week.

    Highland Council and Eastern Airways met last week and agreed the following key measures:

    Measure

    Rationale

    Protect Wick/Aberdeen as a 6-day service

    Essential for business connectivity and wider economy

    Reduce from twice-daily to daily flights on Tuesday, Wednesday and Thursday

    Very low demand for morning midweek service. Consolidated flight improves aircraft availability, reduces impact of winter weather, eases staffing pressures, provides a more sustainable service

    Earlier departure times on afternoon/evening flights

    Reduces chance of adverse weather disruption in winter. Improves onward connectivity with Manchester, Humberside, Birmingham and London

    Retain Sunday service unchanged

    Strong demand for Sunday flight

    No price changes until March 2025

    Maintain value for money and work to restore passenger confidence

    Guaranteed offer of refund or taxi transfer in cases of cancellation

    Reassures passengers concerned about travel in adverse weather

    The new timetable will come into effect on Monday 14 October, and operate throughout the winter until March 2025.

    These changes are designed to protect the future sustainability of the service, which is funded by Transport Scotland and the Highland Council as a public service obligation (PSO). PSO status is awarded to services that provide ‘lifeline’ connectivity but would not be viable to operate on a commercial basis. The Wick-Aberdeen route is regarded as crucial to the north Highland economy and the wider community. It provides better access to employment, leisure, healthcare and social opportunities whilst making it easier to do business across Scotland and the rest of the UK.

    The Wick-Aberdeen route has enjoyed considerable early success, with passenger growth of 25% in the second year and monthly passenger numbers often exceeding one thousand. However, over the past 12 months, overall reliability fell from upwards of 90% to an average of 85%, while September 2024 dipped to 79%. This reflects a number of cancellations caused by operational issues or adverse weather.

    Partners believe the new timetable will deliver meaningful service improvements in the months ahead.

    Roger Hage, Eastern Airways, said: “We are acutely conscious that recent service levels have fallen short of the standards our passengers expect. We have listened to passenger feedback and on discussion with partners we have decided to make some changes which we believe will deliver improvements in the Wick-Aberdeen service. We hope to restore confidence in the service and welcome an increased focus on onward connectivity to allow easier use of Aberdeen through the more challenging winter months.”

    Malcolm MacLeod, Assistant Chief Executive (Place) of the Highland Council said: “In light of recent issues with the service, all stakeholders got around the table and had a deep and constructive conversation about improving service standards. We believe that these changes are the right move to create a more reliable and sustainable service, and we are confident from our discussion with Eastern Airways that the changes will bring immediate improvements.

    “We view the Wick-Aberdeen flights as a lifeline service to the north Highlands and we all remain absolutely committed to making a go of it. We would ask passengers and the wider community to support the service as we deliver these improvements.”

    Stakeholders will continue to regularly review service performance and work together to deliver positive progress in the months ahead.

    Full details of the new timetable can be found online   or by visiting easternairways.co.uk

    MIL OSI United Kingdom –

  • MIL-OSI USA: Steel Introduces Legislation to End Port Strike

    Source: United States House of Representatives – Representative Michelle Steel (CA-48)

    WASHINGTON, D.C. – Rep. Michelle Steel has filed legislation that would effectively end strikes at U.S. East and Gulf Coast ports by requiring mediation efforts to be exhausted before port workers can undertake a labor strike. Such processes currently govern labor disputes for rail workers and airlines workers under the Railroad Labor Act.

    The Safeguarding The Supply Chain Act would prevent economic harm to American supply chains by creating the conditions for a resolution to recent port strikes. Such conditions include negotiations before the National Mediation Board and potential action by Congress to approve a new labor agreement.

    Ports are critical to U.S. infrastructure and trade and should be governed in the same manner as the railroad and airline industries, reflecting their essential role in the supply chain.

    “Widespread strikes at American ports threaten product shortages and price increases for consumers. Congress must act to protect our economy and get our supply chains moving again – especially when many Americans continue to feel the negative effects of inflation,” said Rep. Steel. “My bill would force both sides back to the negotiating table for a resolution and get our economy moving again.”

    ###

    MIL OSI USA News –

  • MIL-OSI: QCR Holdings, Inc. to Report Third Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    MOLINE, Ill., Oct. 02, 2024 (GLOBE NEWSWIRE) — QCR Holdings, Inc. (NASDAQ: QCRH) (“QCRH” or the “Company”) announced today that its third quarter ended September 30, 2024 financial results will be released after the market closes on Wednesday, October 23, 2024. The Company will host a conference call and webcast the next day, Thursday, October 24, 2024, at 10:00 a.m. Central Time to discuss the results. Shareholders, analysts, and other interested parties are invited to join.

    Teleconference: 

    Dial-in information for the call is 888-346-9286 (international 412-317-5253). Participants should request to join the QCR Holdings, Inc. call. The event will be archived and available for replay through October 31, 2024. The replay access information is 877-344-7529 (international 412-317-0088); access code 4892655.

    Webcast: 

    A webcast of the teleconference can be accessed at the Company’s News and Events page at http://www.qcrh.com. An archived version of the webcast will be available at the same location shortly after the live event has ended.

    About QCR Holdings, Inc.

    QCR Holdings, Inc., headquartered in Moline, Illinois, is a relationship-driven, multi-bank holding company serving the Quad Cities, Cedar Rapids, Cedar Valley, Des Moines/Ankeny and Springfield communities through its wholly owned subsidiary banks. The banks provide full-service commercial and consumer banking and trust and wealth management services. Quad City Bank & Trust Company, based in Bettendorf, Iowa, commenced operations in 1994, Cedar Rapids Bank & Trust Company, based in Cedar Rapids, Iowa, commenced operations in 2001, Community State Bank, based in Ankeny, Iowa, was acquired by the Company in 2016, Springfield First Community Bank, based in Springfield, Missouri, was acquired by the Company in 2018, and Guaranty Bank, also based in Springfield, Missouri, was acquired by the Company and merged with Springfield First Community Bank in 2022, with the combined entity operating under the Guaranty Bank name. Additionally, the Company serves the Waterloo/Cedar Falls, Iowa community through Community Bank & Trust, a division of Cedar Rapids Bank & Trust Company. The Company has 36 locations in Iowa, Missouri, Wisconsin and Illinois. As of June 30, 2024, the Company had $8.9 billion in assets, $6.9 billion in loans and $6.8 billion in deposits. For additional information, please visit the Company’s website at http://www.qcrh.com.

    Contacts:

    Todd A. Gipple                                        
    President                                        
    Chief Financial Officer                                
    (309) 743-7745                                        
    tgipple@qcrh.com                                

    The MIL Network –