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Category: Economy

  • MIL-OSI Global: How to get Britain back to work

    Source: The Conversation – UK – By Pete Robertson, Professor of Career Guidance, Edinburgh Napier University

    BasPhoto/Shutterstock

    Addressing his party conference as prime minister for the first time, Keir Starmer made it clear that moving people into work is a priority for his government. He said even the long-term sick should be looking for a job where possible.

    In the last fourteen years, progressively more demands have been made on UK benefit claimants to prove that they are looking for a job. This approach is not based on evidence but rather rooted in an ideology with international reach. (Similar approaches have been seen in places like Australia and Ireland).

    This involves a simplistic carrot-and-stick model of human motivation to work, and a “work-first” doctrine of getting people into the first available job irrespective of its appropriateness or sustainability.

    But as a new report makes clear, looking at people’s lives in a more holistic, long-term way, with a sensitivity to the barriers they face is more likely to get results. Rather than work-first, we need a career-first approach.

    Since the start of the COVID pandemic, levels of economic inactivity
    in the UK have grown significantly. Fewer workers are entering the labour market and more older people are leaving the workforce early. The number of people not working because of long-term illness has also risen substantially.

    This isn’t great news for the new Labour government that is counting on economic growth to get the country into better financial health. It is hard to grow the economy with improved efficiency because that requires investment. A much easier route is to increase the size of the workforce.

    Recognising the risks of economic inactivity, the Commission for the Future of Employment Support was launched in December 2022 by the thinktank the Institute for Employment Studies to review the public services that help people to find a job and employers to find staff.

    Its newly released report places employment support in the wider context of the challenges in the UK labour market and its effect on economic growth. With the UK government ruling out raising the three main taxes, it must prioritise economic growth. This is why economic inactivity in the workforce really matters.



    Read more:
    Three ways politicians always promise to raise money without increasing taxes – and why they rarely deliver

    The commission reserves its strongest criticism for the extent to which employment support has become entangled with welfare conditionality. That is, making behavioural demands on claimants, using surveillance to ensure they comply, and using sanctions – typically withholding benefit payments.

    Adults lead complicated lives, and they are unemployed for a reason (or more often, for multiple reasons). This may be to do with skills, confidence, health, local geography, the needs of dependants or many other factors. These issues will not go away if a service fails to address them. So effective career support must consider the whole person and pathways to sustainable work.

    A jobs and careers service

    The report’s recommendations are aligned with the Labour party promise to create a jobs and careers service, one of its manifesto pledges to kickstart economic growth. Labour has suggested bringing the Jobcentre Plus network together with the National Careers Service.

    The commission recommends three modes of delivery: local offices, an online service and outreach for those facing the most significant barriers. It also recommends entitlement-to-employment advice, and drawing a clearer distinction between employment support and welfare benefit administration.

    But will it work? It is hard to disagree with the recommendations – the rationale is sound and well argued. It is based on historical experience, international comparison, economic analysis and service evaluation. If a reimagined jobs and career service was provided along the lines described by the commission, then its success will probably depend on sticking closely to this vision.

    To make it happen, there are three inter-related problems to overcome. The first is financial pressures on the UK government, which limit its ability to invest.

    Second, if service users are seen as a reserve pool of labour that the government can activate in pursuit of economic growth, this may undermine reform.

    Third, career development is a professional service involving person-centred counselling and an educational approach. This requires staff trained to a professional level, with a code of ethics, who put the service user first. Previous experience of integrating career guidance in public employment services in Europe suggests that their professionalism can be undermined by the host agency.

    Now, the ball will be in the court of the Department for Work and Pensions, specifically work and pensions secretary Liz Kendall and minister Alison McGovern.

    The devolved governments of Wales, Scotland and Northern Ireland may also have a role, as these matters are at least partially in their remit. The report argues for a more complete and consistent devolution of powers for employment support to the UK nations.

    Local labour market partnerships in England are also part of this vision. This means bringing the jobs and career service together with local government, skills agencies, employers, trade unions, voluntary and community organisations and health services. Given the enormous geographical variation in labour markets, it makes sense for local areas to develop their own structures for cooperation between services.

    The main issue is that employment support policy has tended to see unemployed people as units that could and should be contributing to the economy. This needs to be flipped so that services become about helping people to get the economy to work for them, and to build a decent life with some dignity in the process. Unless this is deep in the DNA of the new service, it won’t be that new after all.

    Pete Robertson is the President of the Career Development Institute (CDI). This is the UK professional body for career development practitioners.

    – ref. How to get Britain back to work – https://theconversation.com/how-to-get-britain-back-to-work-239678

    MIL OSI – Global Reports –

  • MIL-OSI Global: Fyre Festival II: why people give fraudsters a second chance

    Source: The Conversation – UK – By Daniel Read, Professor of Behavioural Science, Warwick Business School, University of Warwick

    The Fyre music festival and its well-publicised failure are widely seen as a mixture of incompetence and fraud, embodied in Billy McFarland, its chief architect. People paid thousands of dollars for what was advertised as a luxury music festival but they were served simple cheese sandwiches and the entertainment was cancelled. McFarland spent almost four years in prison for fraud.

    But now McFarland is out and promoting Fyre Festival II. He claims that he has already sold 100 tickets at the early bird price of £499.

    Why would anyone give the Fyre Festival a second chance? Research shows that people’s mental shortcuts can give them confidence in someone who has let them down before.

    Prices for Fyre Festival II range from US$1,400 and $1.1 million (£1,050 and £824,000). Nothing specific has yet been offered, other than an indefinite location (a private island off the Caribbean coast of Mexico), some activities including scuba diving with McFarland himself, and an approximate date (April, 2025).

    McFarland’s former business partner Andy King has said that Fyre Festival II raises “a lot of red flags.”. Yet even King, who lost US$1 million on the original Fyre Festival, admitted he met McFarland for Fyre Festival II talks before becoming wary.

    There is little research on this topic, but I found some help in The Big Con, written in 1940 by David Maurer, a professor of linguistics who dedicated his career to studying the language and culture of those leading a criminal lifestyle, including con artists.

    The Big Con was the inspiration for the 1973 Paul Newman movie The Sting. You may remember that (spoilers) Newman and Robert Redford and his team fleece Robert Shaw using a con in which the mark is persuaded that he can bet on horse races after they are run because of a delay in messages received by a betting shop.

    A central factor is ambiguity. It is hard to be certain from accounts of Fyre Festival whether McFarland set out to be a con man, or is simply a persuasive person who took on more than he could handle. Perhaps McFarland has learned his lessons and will not make the same mistakes. In The Big Con, the grifters tried to make their marks unsure whether they were really being scammed, even after the money changed hands. In The Sting, Robert Shaw’s character never learns that he was conned.

    Maurer documents many cases of marks coming back for more, convinced that the original failure was due to bad luck that won’t be repeated. A typical example comes from a con artist named the Big Alabama Kid, who tells Maurer about a mark they had conned out of US$50,000 in Miami. After he had lost all his money in a gambling con they offered him a chance to try again. But he did not return.

    Three months later, “who should come in smiling but Mr. Bates with a lot of apologies for keeping me waiting so long. He said that his banker had tried to tell him that this deal was a swindle, and wouldn’t let him have his money. So he waited until things had cooled off at home and the banker had forgotten all about it. Then he went to the bank, drew out his money, and caught the first train for the south.”

    Giving the right impression

    It is sometimes hard to persuade even the victims of a con that they are victims.

    Another factor is confidence, both on the part of the grifter and the mark. People often follow the confidence heuristic (or mental shortcut) when judging whether to believe others. The confidence heuristic is that people are confident when they believe they are right, and this confidence makes them persuasive. Such an ability to exude confidence is one of the key skills that all con men must have.

    The mark also has to be confident. That is, to be able to rely on their own ability to discern a good opportunity when they see it. Maurer finds the mark is typically someone who has achieved high social status, and sees themselves as having “some inherent superiority, especially as regards matters of sound judgment in finance and investment … as a person of vision and even of genius”.

    It is not hard to see the potential Fyre Festival attendee or investor here, someone who has money to spare, and who hopes to discover the new Burning Man or invest in it.

    Scarcity, time pressure and the fear of missing out are also powerful psychological motivators likely to make people susceptible to being conned – especially if the essence of the con is that the opportunity is one time only. If we think something is difficult to get, we want it more.

    This is what US psychologist Robert Cialdini refers to as the scarcity principle, and is a motivation that emerges early in life. A 2018 study I co-authored found children as young as six preferred scarce goods compared to abundant ones.

    Maurer’s studies of con artists showed that they carefully craft the set up so that the mark has an exclusive one time only opportunity to make his big score.

    McFarland claims to have 5,000 unique requests for tickets, but only 3,000 slots available. If you go to the Fyre Festival website you cannot buy tickets. Applicants receive the message “Thank you for your application. If approved, the FYRE concierge will be in touch.”

    I am currently in the queue for one of these tickets, and so far the concierge has not been in touch. Will I be lucky enough to be one of the chosen few?

    Daniel Read 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. Fyre Festival II: why people give fraudsters a second chance – https://theconversation.com/fyre-festival-ii-why-people-give-fraudsters-a-second-chance-239013

    MIL OSI – Global Reports –

  • MIL-OSI Global: Harris leads Trump in the polls – here’s what they really tell us about her chances

    Source: The Conversation – UK – By Paul Whiteley, Professor, Department of Government, University of Essex

    Poll data shows that Kamala Harris now leads Donald Trump in the US presidential election campaign. She has an average vote intention score of 48.2%, compared with Trump’s 45.8%, according to FiveThirtyEight, a website that looks at a range of polls.

    She leads in the race, although the margins are still tight. A poll of polls like this one is likely to be more accurate than a single one, giving a much better indication of any trends.

    Many factors are at work when people decide how to vote, but four things really matter. These are voter evaluations of the candidates; their perceptions of the major issues; identifying with the Democratic or Republican parties, or being independents; and whether they think of themselves as liberals, conservatives or moderates.

    To look closely at these factors we can examine the details of an Economist/YouGov survey of the US electorate completed on September 17. The survey puts Harris on 49%, with Trump on 45% in voting intentions.

    There are significant variations in support among different groups and as the figure below shows, there is a large gender gap with women much more likely to vote for Harris than men. In addition, white people favour Trump, whereas Hispanic and black people lean heavily towards Harris. Harris is also strongly supported by those under the age of 45 with Trump leading Harris by a small margin in the 45-64 group – and by a large margin among the over 65s.

    Voting intentions for the upcoming US election:

    When it comes to judging candidates, voters use several criteria including perceptions that they are strong, competent, honest and in touch with people like themselves. But a good overall measure is the extent to which they like or dislike a candidate. In the Economist/YouGov poll 48% liked Harris and 47% disliked her. In Trump’s case 42% liked him and 55% disliked him. Clearly, Harris has the edge in leadership evaluations in the race.

    Existing ideological positions are a very important factor in influencing the vote as the chart below shows. When it comes to ideological preferences liberals overwhelmingly support Harris and conservatives do the same with Trump.

    However, 57% of moderates favour Harris compared, with only 30% who favour Trump. Trump’s problem is that his style of campaigning may energise his core supporters, but it tends to alienate many moderates.

    In the case of political partisanship, again Democrats overwhelmingly support Harris and Republicans Trump. In this case the independents are neck and neck, with Harris ahead of Trump by only 1%. But she does get more Republicans (5%) than Trump gets Democrats (1%).

    Voting intentions among independents and other groups

    Harris has the edge when it comes to three of the really important factors that explain voting behaviour. However, she is weak on some issues compared with Trump. When asked about their most important issue, respondents ranked inflation first, immigration second, and jobs, the economy and abortion tied in third place.

    The problem for Harris is illustrated by the most salient issue of inflation. Some 96% of respondents thought that this is important, but only 33% approved of the way that Joe Biden had handled the issue, compared with 59% who disapproved.

    Since Kamala Harris is the vice-president, she shares responsibility for this. That said, 56% think that Trump’s claim that Haitian immigrants are eating pet dogs is false, while 27% think it is true. So there is a question over his credibility when it comes to issues as well.

    More generally, 25% approved of the general direction the country was headed, while 58% thought that America was on the wrong track. When asked if they felt better off or worse off than a year ago, only 12% said better off, 42% said about the same and 40% said worse off. The US economy has been growing rapidly since Biden took office, but clearly many voters still don’t feel the benefits.

    Biden stepped down as the Democratic nominee for president following his disastrous performance in the debate with Donald Trump. But the polling shows that discontent with the Biden administration was a lot more widespread than just concerns about his age and ability to communicate.

    In relation to the recent TV debate, 56% of respondents thought that Harris won, compared with only 27% who thought the winner was Trump. As a result, she has made a strong start to her campaign. When asked who they thought would win the election in November, 42% said Harris and 32% Trump with 26% unsure.

    With that kind of momentum, Harris can be optimistic, though not certain, about the outcome.

    Paul Whiteley has received funding from the British Academy and the ESRC.

    – ref. Harris leads Trump in the polls – here’s what they really tell us about her chances – https://theconversation.com/harris-leads-trump-in-the-polls-heres-what-they-really-tell-us-about-her-chances-239887

    MIL OSI – Global Reports –

  • MIL-OSI Russia: “Our students will be happy to come to HSE campuses in Moscow, St. Petersburg and other cities”

    MILES AXLE Translation. Region: Russian Federation –

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

    © Mikhail Dmitriev / Higher School of Economics

    On September 26, a meeting of the HSE management with a delegation from Azerbaijan took place in the historic building of the National Research University Higher School of Economics on Pokrovsky Boulevard — the Durasov House. Representatives of higher education institutions discussed possible areas of cooperation. An agreement was also signed between the Higher School of Economics and Baku State University.

    Before the official part, the guests were given a tour of the Pokrovka building and the Durasov House. Nikita Anisimov, Rector of the HSE, gave a welcoming speech and spoke in detail about the HSE. In particular, he noted the multidisciplinary nature of the university, drawing attention to the fact that, in addition to economic departments, the HSE has departments of mathematics, physics, chemistry, biology, geography, computer science and creative industries, as well as engineering training areas. He emphasized that the Higher School of Economics is the first choice university for talented applicants from both Russia and other countries. Nikita Anisimov expressed confidence that cooperation with Azerbaijani universities will allow for the creation of high-quality academic exchange and student mobility programs.

    The rector was supported by other representatives of the HSE management – the vice-rector, the head BRICS Expert Council – Russia Victoria Panova, Vice-Rector, Head of Department Laboratory of Labor Market Research Faculty of Economic Sciences Sergey Roshchin, Dean Faculty of Physics Mikhail Trunin, Deputy Director MIEM Veronica Prokhorova, Director Centre for Comprehensive European and International Studies (CKEMI) Faculty of World Economy and World Politics Vasily Kashin.

    Adalat Jalal oglu Muradov, Rector of the Azerbaijan State University of Economics, greeted those present and thanked them for the warm welcome. He introduced his university: “We have more than 20 thousand students. We conduct training in the main educational programs in several languages. We also have 10 training programs within the framework of two diplomas.”

    He also noted that the Azerbaijan State University of Economics sees demand for education in Russian and the creation of new joint programs, including online, which could lead to increased attractiveness of education.

    “We can think about creating a joint faculty, if you are interested. I am ready to transfer all powers to the HSE within the framework of this faculty. Our students will be happy to come to Moscow, St. Petersburg and other cities,” Adalat Jalal ogly Muradov is confident.

    Elchin Safarali oglu Babayev, rector of Baku State University, noted that HSE is famous not only for the quality of education and research, but also for its infrastructure. “We are interested in cooperation, we need to move forward and expand the horizons of interaction. We are interested in your scientists and professors to teach here,” he said.

    At the same time, the rector of Baku State University emphasized that the name “Higher School of Economics” does not reflect the entire spectrum of areas of study and the diversity of levels of education that are represented at the university. “The university could be called the Higher School of All Sciences,” said Elchin Safarali oglu Babayev.

    Rector of the Azerbaijan Technological University Yashar Adil oglu Omarov, in turn, expressed a desire to create dual degree programs with Russian universities, including the Higher School of Economics. “We have a faculty of economics and management, where we could establish cooperation, and there are also programs in design and IT,” he noted.

    The Azerbaijani delegation expressed interest not only in opening dual degree programs, but also in joint publications.

    At the end of the official part, the Higher School of Economics and Baku State University signed a cooperation agreement.

    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/nevs/edu/967246868.html

    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 Africa: Government welcomes slight increases in employment

    Source: South Africa News Agency

    Friday, September 27, 2024

    Government has welcomed the marginal employment growth and expansion of South Africa’s real Gross Domestic Product (GDP) in the second quarter of this year.

    “The growth bears testament to the government’s commitment made during the State of the Nation Address in February to ensure positive economic growth that will encourage business development and provide more employment opportunities,” Acting Director-General of Government Communication and Information System (GCIS), Nomonde Mnukwa ,said on Friday. 

    According to the Quarterly Employment Statistics survey released by Statistics South Africa (Stats SA) this week, the total employment in the formal non-agricultural sector increased by 42 000 in the second quarter of 2024, bringing the level of employment to 10.7 million. 

    While the survey shows that 144 000 jobs were lost between June 2023 and June 2024, the total number of employees grew by 42 000 (0.4%), with employment rising from 10.67 million in March 2024 to 10.72 million by June 2024.

    “The positive developments mean that government’s structural reforms are unlocking the bottlenecks and removing red tape to drive inclusive growth and job creation. South Africa’s business-friendly approach paves a positive sentiment, signalling that South Africa is becoming more and more of an investment destination,” Mnukwa said. 

    The GCIS said this growth shows commitment by government to work with social partners to stabilise the economy. 

    “The prudent economic path pursued to turn around our economy is starting to show improvement,” GCIS said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Europe: AFRICA/NIGERIA – Further protests against the government’s economic policies announced

    Source: Agenzia Fides – MIL OSI

    Abuja (Agenzia Fides) – Various civil society groups in Nigeria have declared a “National Day for Survival” for October 1. The date has a high symbolic value as it coincides with the 64th anniversary of Nigeria’s independence.The initiative was presented to the press on September 26 at the “International Press Center” in Ogba, in Lagos, by Hassan Taiwo Soweto, coordinator of the “Education Rights Campaign (ERC)”, one of the organizations opposing the economic policies initiated by President Bola Tinubu, which were already the subject of a ten-day protest in August organized through social media under the hashtag #EndBadGovernance (see Fides, 1/8/2024).The organizers of the day of action are calling on the government to “say no to the neoliberal policies of the International Monetary Fund (IMF), restore fuel prices and electricity tariffs to pre-29 May 2023 levels, operate state-owned refineries to ensure affordable petroleum products, reduce food prices and support farmers to ensure sustainable food production.”The organizers are also calling for the unconditional release of protesters and journalists arrested during the August protests, tackling insecurity, including by providing adequate support to soldiers and police officers, introducing a minimum wage and cutting the high salaries of senior officials.“We call on the Nigerian people, progressive organizations, groups, unions, student associations and youth movements to take to the streets on October 1 and protest and demonstrate peacefully,” said Hassan Taiwo Soweto. The October 1st action is an urgent warning and a call to the Tinubu government to “meet our demands immediately. If our demands are not met, further protests will follow on National Survival Day.” He added: “We need a different way of governing our country, one that ensures that national wealth benefits the needs of all and not the greed of a few.”The demands of the organizers of the “National Survival Day” are also to be seen in the context of widespread corruption in the country, which is one of the richest countries in Africa thanks to oil production. A wealth that seeps into countless channels, which in turn has fueled the country’s foreign debt. In the face of the demands of international creditors, President Tinubu has initiated an economic policy focused on higher taxes and cutting state subsidies, which has severely worsened the living conditions of the majority of Nigerians.In his speech to the 79th session of the UN General Assembly, President Bola Tinubu called on world leaders to consider “comprehensive debt relief” for Nigeria and other developing countries to enable them to progress economically.”We must ensure that any reform of the international financial system includes comprehensive debt relief to enable sustainable development financing. Countries in the global South cannot make meaningful economic progress without special concessions and a review of their current debt burden,” warned Tinubu. (L.M.) (Agenzia Fides, 27/9/2024)
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    MIL OSI Europe News –

  • MIL-OSI: Partners Value Split Corp. Announces Completion of $150,000,000 Public Offering of Class AA Preferred Shares, Series 14

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION
    TO U.S. WIRE SERVICES

    TORONTO, Sept. 27, 2024 (GLOBE NEWSWIRE) —  Partners Value Split Corp. (the “Company”) announced today the completion of its previously announced offering of Class AA Preferred Shares, Series 14 (the “Series 14 Preferred Shares”). A total of 6,000,000 Series 14 Preferred Shares were issued at an offering price of $25.00 per Series 14 Preferred Share, raising gross proceeds of $150,000,000. The issuance included 1,000,000 Series 14 Preferred Shares issued pursuant to the exercise, in full, of the underwriters’ option granted by the Company to the underwriters in the offering. The Series 14 Preferred Shares carry quarterly fixed cumulative preferential dividends representing a 5.50% annualized yield on the offering price and have a final maturity of June 30, 2030. The Series 14 Preferred Shares have been listed and posted for trading on the Toronto Stock Exchange under the symbol PVS.PR.L.

    The net proceeds of the offering will be used by the Company in connection with the Company’s redemption of its outstanding Class AA Preferred Shares, Series 8 and to pay a special dividend on the Company’s capital shares.

    Prior to the closing of the offering, the Company subdivided the existing capital shares held by Partners Value Investments Inc. so that there are an equal number of preferred shares and capital shares outstanding.

    The Company owns a portfolio consisting of approximately 120 million Class A Limited Voting Shares of Brookfield Corporation and approximately 30 million Class A Limited Voting Shares of Brookfield Asset Management Ltd. (collectively, the “Brookfield Securities”), which are expected to yield quarterly dividends that are sufficient to fund quarterly fixed cumulative preferential dividends for the holders of the Company’s preferred shares and to enable the holders of the Company’s capital shares to participate in any capital appreciation of the Brookfield Securities.

    Brookfield Corporation is a leading global investment firm focused on building long term-wealth for institutions and individuals around the world. Brookfield Corporation has three core businesses: alternative asset management, wealth solutions, and its operating businesses which are in renewable power, infrastructure, business and industrial services, and real estate. Brookfield Corporation is listed on the New York Stock Exchange and Toronto Stock Exchange under the symbol BN.

    Brookfield Asset Management Ltd. (“BAM”) is a leading global alternative asset manager with approximately US$1 trillion of assets under management across renewable power & transition, infrastructure, private equity, real estate, and credit. BAM’s objective is to generate attractive, long-term risk-adjusted returns for the benefit of its clients and shareholders. BAM is listed on the New York Stock Exchange and Toronto Stock Exchange under the symbol BAM.

    Jason Weckwerth, Chief Financial Officer, will be available at (416) 363-9491 to answer any questions regarding the offering.

    This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and regulations. The words “expected”, “will”, “agreed” and “enable” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters or identify forward-looking information. Forward-looking information in this news release includes statements with regard to the use of proceeds of the offering and quarterly dividends from the Company’s portfolio of Brookfield Securities which are expected to fund quarterly fixed cumulative preferential dividends for holders of the Company’s preferred shares and to enable holders of its capital shares to participate in any capital appreciation of the Brookfield Securities. Although the Company believes that the anticipated future results or achievements expressed or implied by the forward-looking information and statements are based upon reasonable assumptions and expectations, the reader should not place undue reliance on the forward-looking information and statements because they involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking information and statements. Factors that could cause actual results to differ materially from those contemplated or implied by the forward-looking information and statements include: the behaviour of financial markets, including fluctuations in interest and exchange rates, availability of equity and debt financing and other risks and factors detailed from time to time in the Company’s other documents filed with the Canadian securities regulators. We caution that the foregoing list of important factors that may affect future results is not exhaustive. When relying on our forward-looking information to make decisions with respect to the Company, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as may be required by law, the Company undertakes no obligation to publicly update or revise any forward-looking information or statements, whether written or oral, that may be as a result of new information, future events or otherwise. Reference should be made to the Company’s short form base shelf prospectus dated September 19, 2024 and the prospectus supplement dated September 23, 2024 for a description of the major risk factors.

    The MIL Network –

  • MIL-OSI: Bitget Takes the Spotlight at TOKEN2049 Singapore with Industry-Leading Announcements

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Sept. 27, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, is pleased to reflect on its impactful participation at TOKEN2049 held at Marina Bay Sands in Singapore on September 18-19. The event this year was one of the biggest in the blockchain and cryptocurrency industry, drawing in over 20,000 attendees. TOKEN2049 provided a significant platform for industry leaders, influencers, and enthusiasts to connect and exchange insights. It attracted over 400 exhibitors and garnered an impressive 123 million online impressions.

    As TOKEN2049’s title partner, Bitget showcased its dedication to advancing innovation in the cryptocurrency industry. The company announced some of the most important news of the year during the conference, including reaching 45 million users amidst its 6th anniversary celebration, $30 million investment in TON Blockchain, and being the Official Crypto Partner of the World’s Top Professional Football League, LALIGA, in EASTERN, SEA and LATAM. Moreover, Bitget threw private boat parties, hosted exclusive meetups, and sponsored the Blockchain4Her Awards at the SheFi Summit, which honors female leaders in the blockchain and cryptocurrency industries.

    Exchanges are essential to the development of the cryptocurrency market, as Bitget’s CEO Gracy Chen highlighted in her keynote speech, “Exchanges at the Helm: Driving Crypto from Niche to Mainstream.” Gracy Chen stressed the company’s strategic focus on localization and customization to improve user experience across diverse markets during a panel discussion at the event. She emphasized that Bitget has teams dedicated to these tasks, making sure their products are in line with local culture and preferences. “We focus on customization and localization in our product listings, language support, and cultural considerations,” Chen stated. “We are still learning how to better serve our global audience.”

    “TOKEN2049 has been a remarkable opportunity for Bitget to engage with Web3 leaders and reflect on the industry’s challenges and growth,” said Gracy Chen. “Our presence as a title partner allowed us to make significant investment and partnership announcements that will help shape the future narrative for crypto.”

    Apart from its official obligations, Bitget threw a colorful Nightopia celebration at Zouk. More than 2,000 people attended the event, which included world-famous DJ Don Diablo and Bassjackers, and created an exciting atmosphere that combined entertainment and cryptocurrency culture. Those who purchased their NFT tickets with Bitget Wallet were eligible for special benefits, like a chance to win a $10,000 BWB airdrop and free drinks all evening.

    Bitget’s team engaged with over 3,000 attendees at side events during TOKEN2049, showcasing its creative offerings and initiatives within the cryptocurrency ecosystem. With close to 6-figure social media mentions, the exchange garnered significant attention and enhanced its position as a prominent player in the market.

    Bitget’s participation in TOKEN2049 reaffirmed its goal to empower users through cutting-edge trading solutions and showcased its commitment to encouraging community involvement. Bitget was founded in 2018 and now has over 30 million users worldwide. It is dedicated to improving the user experience by offering features like the first copy trading system.

    Bitget’s strategic focus on fostering relationships within the cryptocurrency community and advancing inclusivity and diversity in Web3 is highlighted by the successful execution of these events. As the company looks ahead, it remains dedicated to shaping the future of finance by ensuring secure, efficient digital transactions for all users.

    Event highlights

    About Bitget

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

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

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

    Photos accompanying this announcement are available at

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    https://www.globenewswire.com/NewsRoom/AttachmentNg/e465b6ab-ec4e-4c78-8076-613c67192269

    https://www.globenewswire.com/NewsRoom/AttachmentNg/577a3f9c-aa7e-41de-a4af-e170bcbf2f28

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    The MIL Network –

  • MIL-OSI: Nadero Wealth Management Opens New Tax Consultancy in Jersey

    Source: GlobeNewswire (MIL-OSI)

    CHONGQING, China, Sept. 27, 2024 (GLOBE NEWSWIRE) — Nadero Wealth Management, a leading financial services company based in Chongqing, is proud to announce the opening of its new tax consultancy office in Jersey in a move designed to enhance its international presence and provide comprehensive tax services to clients in the region. This strategic expansion accentuates the company’s commitment to delivering exceptional financial solutions that meet the diverse needs of businesses operating within and beyond the Channel Islands.

    New Office Location and Services Offered

    The new St Helier office offers a wide range of tax-related services, including corporate tax planning, compliance advisory, personal taxation, and cross-border taxation strategies. The highly qualified team has extensive experience in both local and international tax regulations, ensuring that clients receive expert guidance tailored to their specific circumstances.

    Strategic Importance of Jersey

    Jersey is renowned for its robust financial services sector and favorable business environment. As a leading offshore jurisdiction, it provides numerous advantages for companies looking to optimize their tax strategies while ensuring compliance with global standards. By establishing a presence in Jersey, Nadero aims to support local businesses as well as international clients seeking to navigate the complexities of taxation in this unique market.

    Commitment to Client Success

    “We are excited about this new chapter for our company,” said Dennis Zheng, CEO of Nadero. “Our goal is to empower our clients with the knowledge and tools they need to succeed in an increasingly complex global landscape. With our new office in Jersey, we are better positioned than ever to provide personalized service and innovative solutions that drive growth.”

    About Nadero

    Founded in 2010, Nadero Wealth Management has established itself as a trusted global provider of financial services. With a focus on integrity, innovation, and client satisfaction, the company has built a reputation for excellence across various sectors. The opening of the Jersey office marks an important step in its mission to expand while maintaining high standards of service.

    For more information, please contact:
    Sandra Clifford, Chief Operations Officer
    s.clifford@nadero.com
    https://www.nadero.com

    To contact one of Nadero Wealth Management’s Offshore Tax Consultancy Offices, please email tax@nadero.com or visit www.nadero.com/contact-us.

    Disclaimer: This content is provided by the sponsor. The statements, views, and opinions expressed in this column are solely those of the content provider. The information shared in this press release is not a solicitation for investment, nor is it intended as investment, financial, or trading advice. It is strongly recommended that you conduct thorough research and consult with a professional financial advisor before making any investment or trading decisions. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cad54dbb-09ae-4a4a-89b9-25133a6b38bd

    The MIL Network –

  • MIL-OSI USA: Statement from President Joe  Biden on the August PCE  Report

    US Senate News:

    Source: The White House
    Today’s report shows inflation has come back down to 2.2%, similar to pre-pandemic levels, at a time when interest rates have fallen—lowering the cost of buying a home or car, or operating a small business. This follows yesterday’s news that on my watch the economy has grown more than 10% and incomes are up nearly $4,000, after accounting for inflation. The economy, incomes, savings, and consumer spending are all stronger than previously estimated. We have more work to do to lower costs and create opportunities for Americans. The Vice President and I want to build millions of new homes, continue to lower the price of prescription drugs and health care, and cut taxes for families, small businesses, and industries of the future. Congressional Republicans would take the opposite approach—raising costs for middle-class families by nearly $4,000 per year while giving more tax cuts to the wealthy and big corporations. That’s not how you grow the economy, or the middle class.

    MIL OSI USA News –

  • MIL-OSI USA News: Statement from President Joe  Biden on the August PCE  Report

    Source: The White House

    Today’s report shows inflation has come back down to 2.2%, similar to pre-pandemic levels, at a time when interest rates have fallen—lowering the cost of buying a home or car, or operating a small business. This follows yesterday’s news that on my watch the economy has grown more than 10% and incomes are up nearly $4,000, after accounting for inflation. The economy, incomes, savings, and consumer spending are all stronger than previously estimated.
     
    We have more work to do to lower costs and create opportunities for Americans. The Vice President and I want to build millions of new homes, continue to lower the price of prescription drugs and health care, and cut taxes for families, small businesses, and industries of the future. Congressional Republicans would take the opposite approach—raising costs for middle-class families by nearly $4,000 per year while giving more tax cuts to the wealthy and big corporations. That’s not how you grow the economy, or the middle class.

    ###

    MIL OSI USA News –

  • MIL-OSI Canada: Indigenous Guardians projects 2024–2025

    Source: Government of Canada News

    Today, Jaimee Gaunce, Executive Director of the First Nations National Guardians Network (NGN), joined the Honourable Steven Guilbeault, Minister of Environment and Climate Change; the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for the Federal Economic Development Agency for Northern Ontario; and Marcus Powlowski, Member of Parliament for Thunder Bay—Rainy River, to announce the investment of up to $27.6 million to support 80 First Nations Guardians initiatives.

    Alberta

    Project title: Mikisew Cree First Nation Guardian Program
    Recipient: Mikisew Cree First Nation – Government and Industry Relations
    Funding amount: $350,000
    Project description: This two-year, ongoing initiative will study how oil sands development, particularly bitumen mining and hydroelectric projects, are affecting the health of the Peace-Athabasca Delta, the heart of Mikisew’s traditional territory. Guardians work year-round to monitor water quality, collect data, track flood events, and monitor the fish population.

    Project title: Ni Ho Ghe Di – ACFN Guardian Program Athabasca Chipewyan First Nation
    Recipient: Dene Lands and Resource Management
    Funding amount: $350,000
    Project description: This two-year initiative will monitor and report on activities that may cause harm to the ecology, traditional lands, or traditional resources of Athabasca Chipewyan First Nation (ACFN), such as poaching and illegally hunting on the traditional territory, especially to protect Ronald Lake Buffalos. The initiative will also support youth to strengthen their cultural pride and connection to the land and develop on-the-land skills.

    Project title: Guardians of the Territory – Dene Tha’ First Nation
    Recipient: Dene Tha’ First Nation
    Funding amount: $350,000
    Project description: This two-year initiative will engage in diverse activities, such as ecological restoration, supporting resource management plans, and ensuring compliance with laws and regulations. Guardians will protect and recover species at risk, manage land use in the proposed Indigenous Protected and Conserved Area at M’behcholia (Bistcho Lake, Alberta), and conduct environmental and wildlife monitoring.

    Project title: Alexis Nakota Sioux Nations Guardians Initiative
    Recipient: Alexis Nakota Sioux Nation
    Funding amount: $346,400
    Project description: This two-year initiative will involve conducting and analyzing aerial surveys, creating a geographic information system (GIS) data management and visualization system using R-Studio and ArcPY, and continue to develop the Stoney Land and Water Course.

    British Columbia

    Project title: Kitasoo Xai’xais Guardian Watchmen Program Enhancement
    Recipient: Kitasoo Xai’xais Nation
    Funding amount: $604,925
    Project description: This two-year initiative focuses on marine and terrestrial surveying, along with compliance and enforcement practices involving education, observation, and reporting. The Guardians also actively participate in the Coastal Nations Coast Guard Auxiliary and undertake training for emergency response in search and rescue and oil spills.

    Project title: Coastal Stewardship Network
    Recipient: Great Bear Initiative Society
    Funding amount: $499,785
    Project description: This two-year initiative provides programming to the Coastal First Nations – Great Bear Initiative’s eight member nations, who work directly with communities to support Guardians along the North and Central Coast and Haida Gwaii to track resource use and ecosystem health, provide training and professional development, raise awareness, and help establish a stewardship presence on the coast.

    Project title: Songhees Nation Guardians Program
    Recipient: Songhees Nation
    Funding amount: $50,000
    Project description: This one-year initiative continues work with community members, Band Council, and outside organizations to provide monitoring services, promote stewardship in the community, and restore habitat areas. This initiative helps establish stronger Indigenous presence on the water during fishing seasons, as it is critical in establishing more authority over fisheries and coastal resources on the land.

    Project title: Lower Nicola Indian Band – Indigenous Guardians Program – Tier 1
    Recipient: Lower Nicola Indian Band
    Funding amount: $49,450
    Project description: This one-year initiative aims to build capacity, skills, and knowledge for a new Guardians program in the community. This will involve mapping and indexing areas in the territory, engaging with Elders and knowledge keepers, engaging with the community, drafting a plan, and working with chief and council to ensure the vision aligns with the strategic plan.

    Project title: Mamalilikulla First Nation Guardian Program
    Recipient: Mamalilikulla First Nation
    Funding amount: $350,000
    Project description: This two-year initiative involves ongoing activities where Guardians spend time on the land to collect data, monitor cultural sites, manage Grizzly Bear populations, plant crab apple trees to provide food for the bears, and improve fisheries. This work helps the Chief and Council make informed decisions.

    Project title: Wet’suwet’en First Nation Guardian Initiative: A Holistic Approach
    Recipient: Wet’suwet’en First Nation
    Funding amount: $75,745
    Project description: This one-year initiative will monitor and collect data on moose population and mortality rates, assess wildlife habitats, setup wildlife cameras, and conduct riparian assessments. It will also explore starting a water-monitoring program in identified priority areas. These efforts will help the community observe and document activities or cumulative effects that impact their ability to practice traditional ways of life.

    Project title: Saulteau First Nations Indigenous Guardian Proposal
    Recipient: Saulteau First Nations
    Funding amount: $350,000
    Project description: This two-year initiative will help the community take leadership in monitoring, protecting, and restoring the lands and waters, which is essential for the health and well-being of the community. Activities include supporting safe food harvesting and cultural activities, protecting Klinse-za Park, monitoring climate changes, and understanding how events like forest fires affect the community, fluctuations in weather patterns, and alterations in animal movements and water availability.

    Project title: Saik’uz Guardian Program
    Recipient: Saik’uz First Nation
    Funding amount: $350,000
    Project description: This two-year initiative will build upon long-term monitoring efforts through a self-sustaining, community-based Saik’uz Guardians Initiative. The Guardians will be guided by the wisdom of both Indigenous Knowledge and western science, for the purposes of empowerment and self-determination of the Nation’s future connected to the water and land of the Territory.

    Project title: P’egp’ig’lha Guardians
    Recipient: P’egp’ig’lha Council / T’it’q’et First Nation
    Funding amount: $350,000
    Project description: This two-year initiative will conduct patrols of the land to ensure territorial health and study wildlife and fisheries. Guardians play an essential role in protecting and restoring the Stein-Nahatlatch Grizzly Bear population, assisting with wildfire recovery, and strengthening collaboration with other nearby Guardian programs.

    Project title: Pauquachin First Nation Marine Department – Stewardship Initiative
    Recipient: Pauquachin First Nation
    Funding amount: $350,000
    Project description: This two-year initiative monitors one of the most heavily travelled and utilized waterways within British Columbia. Guardians review culturally sensitive archaeological sites, harvesting areas, recreational and commercial fisheries use, environmental threats (pollution sources, dumping, illegal activities, and poaching), and conduct restoration in specified areas of importance. This initiative represents the community’s interests, concerns, and objectives to ensure waterways, food, historical sites, and cultural practices continue for generations to come.

    Project title: Takla Nation’s Tier 2 Guardians Initiative
    Recipient: Takla Nation
    Funding amount: $499,959
    Project description: This ongoing initiative monitors more than 30 established sites across Takla’s lands and waters. This work is essential for Takla to implement environmental and cultural protections, including ensuring archaeological impact assessments are carried out by various proponents and government agencies align with Takla’s Archaeology Policy. Additionally, it builds capacity to monitor the caribou and moose populations and sustains the Guardians program by fostering engagement with youth in the community.

    Project title: Tsilhqot’in Guardian Network
    Recipient: Tsilhqot’in National Government
    Funding amount: $500,000
    Project description: This two-year initiative, led by the Tsilhqot’in National Government in collaboration with six Tsilhqot’in communities—Xeni Gwet’in, Tlesqox, Tletinqox, Tsi Del Del, ?Esdilagh, and Yunesit’in—aims to integrate and strengthen Tsilhqot’in values in the management of the region’s lands and waters. Working in partnership with provincial and federal land and water management agencies, the initiative will see Guardians will conducting patrols for hunting, fishing, and fire prevention, as well as wildlife- and water-monitoring research to ensure the sustainable stewardship of Tsilhqot’in territories.

    Project title: Quatsino Axsilaxa Ahwheatnagwusn Guardians Program
    Recipient: Quatsino First Nation
    Funding amount: $342,765
    Project description: This two-year initiative aims to support the implementation of the Quatsino Land Use Plan and the Marine Use Plan. This will be done through field-based work, such as data collection and monitoring. These efforts will be central to ecosystem restoration and establishing food security through the local harvesting of traditional foods.

    Project title: nłeʔképmx Guardians
    Recipient: Citxw Nlaka’pamux Assembly
    Funding amount: $350,000
    Project description: This two-year initiative will continue to establish presence on the land and provide public education and awareness about the nłeʔképmx territory, protocols, and cultural practices. Guardians will monitor and record activities on the land with a focus on priority areas determined by the Citxw Nlaka’pamux Assembly. These priority areas include critical hunting, fishing, gathering, and other culturally important areas. nłeʔképmx Guardians will record, monitor, and manage for invasive species and will contribute to research regarding species at risk in the territory.

    Project title: Supporting and Maintaining a Strong and Efficient Heiltsuk Guardian Watchmen Program
    Recipient: Heiltsuk Integrated Resource Management Department of the Heiltsuk Tribal Council
    Funding amount: $349,499
    Project description: This two-year initiative will focus on capacity-building, monitoring local aquatics ecosystems and community fisheries for safe harvesting and to support and reestablish this life-sustaining relationship between the people and territory.

    Project title: Haa Aaní Tulatín – Taku River Tlingit First Nation Land Guardian Program
    Recipient: Taku River Tlingit First Nation
    Funding amount: $349,600
    Project description: This two-year initiative will respond to threats to the territory and monitor salmon populations. The Guardians will work to strengthen salmon stewardship by organizing multi-day camps that focus on traditional fishing, intergenerational knowledge transfer, and on-the-land monitoring.

    Project title: Spuzzum Nation Land Guardians Initiative
    Recipient: Spuzzum Indian Band
    Funding amount: $50,020
    Project description: This one-year initiative will focus on protecting important ecosystems by monitoring key territorial and cultural sites, collecting ecological data, and safeguarding species like the endangered Northern Spotted Owl. The Guardians will also help to develop a framework for stewardship policies.

    Project title: Kwadacha Nation Tier 2 Guardian Proposal
    Recipient: Kwadacha Nation
    Funding amount: $348,734
    Project description: This two-year initiative aims to provide long-term ecological and cultural monitoring to track changes on key wildlife habitats, traditional food sources, and water sources. This will aid in discussing how potential changes may impact the roles and responsibilities of being Dena on the land.

    Project title: Doig River First Nation Guardian Program
    Recipient: Doig River First Nation
    Funding amount: $349,188
    Project description: This two-year initiative will focus on improving monitoring of the lands and waters by combining cultural methods and western science. Doig River First Nation Guardians will continue to monitor the health of the land, guided by members, and will work collaboratively with the government to address any impacts.

    Project title: Nahnéhé Gegenı́hı / Kakinawetakwow Uski / FNFN Land Guardian Initiative
    Recipient: Fort Nelson First Nation
    Funding amount: $375,000
    Project description: This two-year initiative supports the Fort Nelson First Nation (FNFN) stewardship, land management, and on-the-land cultural activities. The Guardian is guided by western science monitoring and research while grounded in Indigenous ways of knowing and understanding the health and condition of the lands and waters.

    Project title: Scianew Guardians Initiative
    Recipient: Beecher Bay First Nation
    Funding amount: $348,614
    Project description: This two-year initiative will work toward environmental conservation, monitoring, training for Guardians, impact assessments, land sovereignty, and marine safety. This will be done through partnerships with neighbouring nations, Western Canada Marine Response Corporation (WCMRC) and Kotug Canada.

    Project title: USIB Land Guardian Program
    Recipient: Upper Similkameen Indian Band
    Funding amount: $391,894
    Project description: This two-year initiative aims to address critical environmental challenges while deeply integrating Indigenous Knowledge, community engagement, and sustainable practices. The Guardians initiative emphasizes land conservation, sustainable resource management, and fostering ecosystem resilience.

    Project title: Establishing Boothroyd Guardians Program
    Recipient: Boothroyd Indian Band
    Funding amount: $50,000
    Project description: This one-year initiative will monitor environmental indicators within the territory, support restoration work in areas damaged by wildfire, and the subsequent erosion. Boothroyd Guardians will engage with land-user groups to increase understanding and respect for the environment.

    Project title: TTQ Guardians Program Initiation Project
    Recipient: TTQ Economic Development Corporation
    Funding amount: $62,533
    Project description: This one-year initiative aims to collect and organize Xa’xtsa’s previously recorded cultural knowledge data, map priority areas, and develop a monitoring plan. The goal is to observe changes in the supply of traditional herbs and plants, the frequency and impacts of foraging on the land, vitality of salmon spawning, changes in unauthorized camping, and invasive plants and animals.

    Project title: Wildfire Recovery Monitoring
    Recipient: Okanagan Indian Band
    Funding amount: $350,000
    Project description: This two-year initiative will assess the conditions of the White Rock Lake watershed before and after wildfires for the Okanagan Indian Band. The Guardians will conduct site assessments, inventory culturally significant resources, monitor wildlife, and assess the severity of burn damage to guide restoration efforts.

    Project title: Nanwakolas – Stewarding Through Indigenous Scientific Knowledge
    Recipient: Nanwakolas Council Society
    Funding amount: $500,000
    Project description: This two-year initiative will apply Kwakwaka’wakw values and Indigenous scientific knowledge on a variety of projects, including loxiwe (clam garden) restoration, canoe carving, hosting Guardian seasonal gathering events, as well as data collection on water, wildlife monitoring, climate change studies, and emergency response planning.

    Project title: Continuing to Build the Skwxwú7mesh Úxwumixw (Squamish Nation) Guardians Programs Initiative
    Recipient: Squamish Nation – Squamish Indian Band 555
    Funding amount: $349,505
    Project description: This two-year initiative will conduct stewardship activities, respond to climate events and emergencies, and increase public safety. The Guardians will continue to be on the land engaging and learning from Elders, knowledge keepers, and youth, as well as collaborating with other Nations to share information and build capacity across the National Guardians Network.

    Project title: St’át’imc Land Guardians
    Recipient: St’at’imc Government Services
    Funding amount: $425,180
    Project description: This two-year initiative will focus on the implementation of the St’át’imc Water Accord. This includes collecting baseline data of three intact watersheds and three impacted watersheds to assess water quality. Other activities include capacity-building and reviewing stories and legends through workshops/collaborative research with the Indigenous Law Research Unit.

    Project title: Nak’azdli Whut’en Yinka Huwunline (Looking After/Taking Care) Guardians Program
    Recipient: Nak’azdli Whut’en
    Funding amount: $349,942
    Project description: This two-year initiative will build geospatial mapping technology for Guardians to use in monitoring. It will create open portals for communication while protecting internal data and cultural information. The project will use remote sensing technology to create “living maps” that track seasonal phenology, quantify impacts, and present informed engagements on stewardship with industry, government, consultants, and academics.

    Project title: Lake Babine Nation Yintah Guardians
    Recipient: Lake Babine Nation
    Funding amount: $350,000
    Project description: This two-year initiative will lead the collaborative stewardship of yintah Lake Babine Nation (LBN) territory and the resources of two cultural keystone species, talok (Sockeye Salmon) and khida (moose), to restore moose populations to culturally meaningful levels, and to support fish monitoring, habitat restoration, and collaborative management.

    Manitoba

    Project title: Seal River Watershed Alliance Land Guardians Network
    Recipient: Seal River Watershed Alliance
    Funding amount: $500,000
    Project description: This two-year initiative will employ 14 youth and senior staff in Land Guardian positions across the four Nations of the Alliance. This initiative builds technical capacity and administers species and habitat identification, monitoring, and protection, and stewards the watershed.

    Project title: Askiy Okanawaynichikaywuk (Keepers of the Land)
    Recipient: York Factory First Nation
    Funding amount: $349,860
    Project description: This two-year initiative will maintain trails, monitor cultural and historic sites, observe changes in the land, and support respectful land use. Guardians will have a visible presence, doing community outreach, participating in land-based events, and helping to inform Council’s decisions about land use, stewardship, and protection.

    Project title: Pimachiowin Aki First Nations Guardians Network
    Recipient: Pimachiowin Aki Corporation
    Funding amount: $499,615
    Project description: This two-year initiative will focus on seasonal fishing monitoring of Pickerel (Walleye), all-season road alignment, wildfire management, and climate change adaptation and mitigation. Guardians provide professional capacity and presence in Pimachiowin Aki, expressing Anishinaabe nationhood, as well as filling gaps in the Information Management System and provincial patrols and monitoring activities throughout the year.

    Project title: SCO First Nations Guardians Regional Network
    Recipient: Southern Chiefs’ Organization Inc.
    Funding amount: $500,000
    Project description: This two-year initiative will focus on strengthening Indigenous jurisdiction over their traditional lands, capacity-building, training and skills development in environmental monitoring and management, and encouraging cooperation and collaboration between communities on stewardship and natural resource management issues.

    Project title: SLFN Land-Water-Nature Indigenous Guardianship Stewardship Initiative
    Recipient: Swan Lake First Nation
    Funding amount: $349,285
    Project description: This two-year initiative, together with Agriculture and Agri-Food Canada, will continue to evaluate the revegetation terraces and re-seed as necessary, monitor water quality from the tile drainage structure, and monitor wildlife and pollinator populations. The data collected will assist in understanding the success rate of this project in reducing nutrient pollution and enhancing ecosystems.

    New Brunswick

    Project title: Amlamgog Earth Keepers
    Recipient: Fort Folly First Nation
    Funding amount: $321,411
    Project description: This two-year initiative will expand and enhance an existing salmon recovery initiative. This initiative will focus on flora and fauna monitoring, following the traditional guiding principle of Etuaptmumk (two-eyed seeing).

    Project title: Wotstak First Nation Guardians Initiative – Tier 1
    Recipient: Woodstock First Nation
    Funding amount: $50,000
    Project description: This one-year initiative will collect data and conduct ecosystem monitoring guided by Woodstock’s Aboriginal Traditional Knowledge for conservation, with the goal of developing a land use plan.

    Project title: Elugweieg Toqwe’gig ugjit Ugs’tqamu aq ugjit Sapo’nug (We Work Together for Earth and for Tomorrow)
    Recipient: Esgenoôpetitj Watershed Association
    Funding amount: $349,923
    Project description: This two-year initiative will expand Esgenoôpetitj aquatic monitoring and governance, led by Esgenoôpetitj First Nation (EFN) Fishery Guardians in collaboration with Fisheries and Oceans Canada enforcement personnel in the management, conservation, and protection of the fisheries in the areas most utilized by the community.

    Newfoundland and Labrador

    Project title: Innu Nation Guardian Program
    Recipient: Innu Nation – Environment and Parks Offices
    Funding amount: $700,000
    Project description: This two-year initiative will integrate the Sheshatshiu and Mushuau Innu (Natuashish) communities through environmental stewardship and cultural preservation. The initiative will focus on five objectives: creating additional Guardian positions, providing technical and safety training, hosting youth workshops for knowledge transfer, purchasing necessary equipment, and developing cultural initiatives to uphold and promote Innu traditions and ecological knowledge.

    Nova Scotia

    Project title: Re-Connecting Our People with the Land
    Recipient: Eskasoni Fish & Wildlife Commission Inc.
    Funding amount: $375,000
    Project description: This two-year initiative will help protect the Eskasoni Watershed and the bio-cultural diversity within the Nation for future generations, as well as reconnecting the people with the land by supporting community-led research and conducting surveys to monitor the changes in the fisheries and ecosystems. The Guardians will be responsible for monitoring activities within the watershed that could impact fish habitat, fish passage, and other species at risk or culturally significant species. This initiative will also support designation of an Indigenous Protected and Conserved Area.

    Project title: Nova Scotia Earth Keepers / Nuji kelo’toqatijik Network
    Recipient: Unama’ki Institute of Natural Resources Society
    Funding amount: $500,000
    Project description: This two-year initiative includes gathering and sharing of Indigenous Knowledge, promoting Netukulimk hunting practices, and monitoring and data collection, including identifying areas suitable for cultural activities, harvesting of medical plants, monitoring species at risk, and education and outreach about culturally important species.

    Northwest Territories

    Project title: Ni hat’ni Dene (Watchers of the Land)
    Recipient: Lutsel K’e Dene First Nation
    Funding amount: $349,600
    Project description: This two-year initiative maintains a long-term mandate to promote stewardship of Thaidene Nene, working full-time as caretakers of the land, water, and animals, ambassadors of the Dene way of life, and hosting visitors. Initiatives include protecting the Bathurst Caribou, passing on cultural knowledge to youth, and ensuring food security.

    Project title: DKFN Guardians
    Recipient: Deninu Kue First Nation
    Funding amount: $333,055
    Project description: This two-year initiative will monitor the lands and water. Guardians will patrol the land to ensure it is kept clean and will conduct water-quality sampling and clean fish monitoring.

    Project title: LKFN Guardians and Climate Change Monitoring Project
    Recipient: Łı́ı́dlı̨́ı̨́ Kų́ę́ First Nation
    Funding amount: $349,961
    Project description: This two-year initiative aims to monitor the environmental impacts of climate change in the Dehcho Region of Northwest Territories. The initiative will include monitoring of various indicators, such as permafrost melt, riverbank slumping/erosion, and shifting species populations. Guardians will be equipped with specialized training to monitor erosion, permafrost conditions, observe melt patterns, and assess the depth of thaw. This crucial data collection is important to assess the changing landscape.

    Project title: Sahtu K’aowe Guardians Project in Support of the Tsá Tué Biosphere Reserve
    Recipient: Délįnę Got’įnę Government
    Funding amount: $350,000
    Project description: This two-year initiative supports monitoring of the Great Bear Lake and its watershed using two-eyed seeing methods (bridging western science and Indigenous Knowledge) for the conservation of biodiversity, ecological integrity, climate change adaptation, sustenance of local wildlife, and food security, as well as for cultural continuity and revitalization.

    Ontario

    Project title: Environmental Stewardship on Air Quality Issues for Aamjiwnaang First Nation
    Recipient: Aamjiwnaang First Nation
    Funding amount: $48,732
    Project description: This one-year initiative will monitor the air, water, and land surrounding Aamjiwnaang First Nation (AFN) that has been impacted by industry development. Guardians will identify environmental monitoring gaps (for example, soil, water, air, fish, plants, and species at risk), develop plans for data collection, improve emergency notification, as well as community responses to petroleum refineries, chemical plants, and other industrial facilities in proximity to AFN.

    Project title: Temagami First Nation Guardians
    Recipient: Temagami First Nation
    Funding amount: $451,000
    Project description: This two-year initiative prioritizes water quality, species, and habitat protection; preservation of Indigenous wisdom; and data collection and monitoring. Guardians will be engaged in monitoring, recording, and reporting activities related to land use and environmental protection. Specific attention will be given to Lake Temagami, including monitoring ice huts, houseboats, shores, and more.

    Project title: Atikameksheng Anishnawbek – Phase 2 – Monitoring of Atikameksheng Traditional Land
    Recipient: Atikameksheng Anishnawbek
    Funding amount: $347,263
    Project description: This two-year initiative will help with the collection of maple sap during Sugar Moon and other food harvestings, which is provided to Elders and the Nations’ food bank. Guardians will monitor the lands, conduct field site inspections for proposed forestry cuts to ensure grandmother trees are protected, and complete daily field work sheets and site inspections that will provide important environmental information on spills, violations, and forestry cuts.

    Project title: Anishinabek Traditional Ecological Guardians of Georgian Bay
    Recipient: Magnetawan First Nation
    Funding amount: $500,000
    Project description: This two-year initiative supports land-based learning, knowledge transfer, and technical skills training on species at risk, species monitoring, data collections, and other land-management activities using the two-eyed seeing approach. The initiative will also help to strengthen capacity and sustainable management for other First Nation groups.

    Project title: Charting the Path Ahead – Anishinaabe Aki Shkabewisag (Niiwin Wendaanimok Anishinaabe Guardians Network)
    Recipient: Niiwin Wendaanimok Limited Partnership
    Funding amount: $500,000
    Project description: This two-year initiative will support four Anishinaabe Nations to mitigate and monitor compliance on development in the territory; increase capacity to care for lands, water, plants, and animals; and work collaboratively to identify individual needs and create personalized coaching and mentorship programs. The Anishinaabe Guardians will identify and protect areas of significance by interviewing Elders and knowledge keepers.

    Project title: Ketegaunseebee Aki Guardians
    Recipient: Garden River First Nation
    Funding amount: $301,400
    Project description: This two-year initiative will assist Garden River First Nation in monitoring and protecting the St. Marys River and the lands to uphold a treaty made with neighbouring Indigenous Nations. The initiative will focus on capacity-building, community engagement, and fieldwork including patrolling, monitoring species at risk and invasive species, and forestry.

    Project title: Four Rivers Regional Guardians Network
    Recipient: Matawa First Nations Management
    Funding amount: $389,771
    Project description: This two-year initiative focuses on environmental stewardship and capacity-building in nine Matawa First Nations. The Four Rivers Regional Guardian Network will engage in virtual and in-person networking to expand its knowledge and capacity, including cultural exchanges within the network.

    Project title: Biinjitawaabik Zaaging Anishnaabek Community Guardians
    Recipient: Biinjitiwaabik Zaaging Anishnaabek Rocky Bay First Nation
    Funding amount: $350,000
    Project description: This two-year initiative will implement sturgeon and mining site protocols, conduct environmental monitoring analysis, map the Lake Nipigon basin, and integrate the data into a geographic information system database.

    Project title: The Height of Land Wakohtowin Guardian Program – Treaty No.9
    Recipient: Wahkohtowin Development General Partnership Inc.
    Funding amount: $499,300
    Project description: This two-year initiative is designed to enhance traditional knowledge, practices, and way of life within the communities. Guardians will have first-hand experience in how ecosystem services and the conservation economy work.

    Project title: The Neya Waban Guardian Program – Caretakers of the Land
    Recipient: Algonquins of Pikwakanagan First Nation
    Funding amount: $349,650
    Project description: This two-year initiative will gather crucial information that will support decision-making, identify quality habitat areas for wildlife, and develop management plans and protocols. The Algonquins of Pikwakanagan First Nation will continue to conduct Algonquin knowledge-based data collection to further protect the lands, water, animals, and air for the eleven communities across Ontario and Quebec.

    Project title: Mnisinoog (Warriors for the Bay): Shawanaga First Nation’s Guardians Program
    Recipient: Shawanaga First Nation
    Funding amount: $350,000
    Project description: This two-year initiative focuses on improving aquatic life by using river monitors to sustain and protect the health of the river ecosystem. Aquatic stewardship takes precedence with creel surveys, wide-scale monitoring of waterbodies, and a detailed study on fish consumption.

    Project title: Caldwell First Nation Land Guardian Program
    Recipient: Caldwell First Nation
    Funding amount: $345,840
    Project description: This two-year initiative will focus on education, training, on-the-land learning with technical experts and knowledge holders, and listening sessions with the community. The Guardians will review class environmental assessments on behalf of Caldwell First Nation, monitor and participate in environmental projects in the Territory, and build multi-year capacity initiatives with emphasis on supporting the creation, development, and management of Indigenous Protected and Conserved Areas within traditional territory.

    Prince Edward Island

    Project title: Lennox Island First Nation Guardians Program
    Recipient: Lennox Island First Nation
    Funding amount: $346,800
    Project description: This two-year initiative will help better manage, protect, and utilize the marine resources the community relies on. It will allow the Lennox Island watershed conservation group to participate in coastal erosion studies, take part in fisheries workshops (lobster-handling practices), a Black Ash reforestation project, and the development of a modernized solid-waste management plan.

    Project title: Abegweit Guardians
    Recipient: Abegweit First Nation
    Funding amount: $350,000
    Project description: This two-year initiative embodies a cultural and traditional approach to natural resource management. The initiative also includes data collection and monitoring, and focusing on the use of lands, waters, and resources on traditional territories, including cultural sites.

    Quebec

    Project title: Gardiens du Ndakina
    Recipient: W8banaki
    Funding amount: $500,000
    Project description: This two-year initiative will support the sustainability of traditional practices of members of the Nation, protect their rights to access ancestral territory, and preserve cultural heritage. This initiative will create conservation spaces, share and transfer Indigenous Knowledge, mentor youth, engage with the community, and promote food sovereignty, as well as many other activities.

    Project title: Pushing Forth: Taking the Pessamit Land Guardians to the Next Level
    Recipient: Conseil des Innus de Pessamit
    Funding amount: $349,550
    Project description: This two-year initiative includes a team of six territorial agents, specializing in data collection, surveillance of the lands, and comprehensive inventories of biodiversity and ecosystem processes. The initiative will focus on monitoring and assessments, conducting an inventory of cultural sites, developing expertise in sampling, and community engagement and visibility.

    Project title: Gardiens de territoire Abitibiwinnik
    Recipient: Première Nation Abitibiwinni
    Funding amount: $195,931
    Project description: This two-year initiative will continue to train community members to conduct land surveillance and acquire new skills and knowledge from field work, utilizing both Indigenous Knowledge and western science. The initiative aims to document information acquired from Guardians’ activities, community members, and Elders.

    Project title: Cumulative Effects Assessment of Chisasibi’s Intertidal Zones: Integrating Science, Tradition, and Stewardship
    Recipient: Cree Nation of Chisasibi
    Funding amount: $348,468
    Project description: This two-year initiative will focus on integrating western science, Indigenous Knowledge, and stewardship to address key challenges in the Chisasibi community. The initiative will study the impact of development by reviewing existing research, mapping the community, analyzing vegetation, and collecting environmental samples. Additionally, it will build capacity through workshops and a mentorship initiative involving Kinwhapmaakins (Trapline Managers/Guardians). All data will be collected and combined into a detailed report on cumulative effects.

    Project title: Gardiens Atikamekw de Manawan
    Recipient: Conseil des Atikamekw de Manawan
    Funding amount: $350,000
    Project description: This two-year initiative will enhance the role of the Guardians in working with non-Indigenous land users and partners within the heart of the Nation and the community. This next phase focuses on being active on the land, collecting data, establishing an official community-recognized mandate, and increasing capacity and training, as well as strengthening the role of the Guardians within the community.

    Project title: Kitigan Zibi Anishinabeg Nagadjitòdjig Guardian Initiative
    Recipient: Kitigan Zibi Anishinabeg First Nation
    Funding amount: $594,020
    Project description: This two-year initiative will monitor and inventory cultural keystone species, wild foods, and trees. The Guardians will provide water quality studies, identify culturally significant sites, and record videos to document traditional practices and activities.

    Project title: Protection et participation à la mise en valeur de l’héritage Pekuakamiulnuatsh sur Nitassinan
    Recipient: Pekuakamiulnuatsh Takuhikan
    Funding amount: $49,995
    Project description: This one-year initiative aims to ensure the protection and preservation of the territory while maintaining the well-being of the Nation’s community members as they conduct their Nation’s traditional activities. The Guardians play a crucial role in supporting the Nation’s community, in land surveillance, and accompanying community members onto the Nation’s land.

    Project title: Essipiu Assinu Nakatuenitamu (celui qui prend soin du territoire d’Essipit)
    Recipient: Conseil de la Première Nation des Innus Essipit
    Funding amount: $246,308
    Project description: This two-year initiative supports responsible governance and occupation of the Nation’s territory, land surveillance, and participation in community events, as well as collaboration on a variety of projects that encourage learning and skill development for Guardians and community members.

    Project title: Nutshimiunnuat d’ITUM (gardiens du Nitassinan d’ITUM)
    Recipient: Innu Takuaikan Uashat mak Mani-Utenam
    Funding amount: $350,000
    Project description: This two-year initiative consists of monitoring, protecting, and carrying out stewardship activities in the traditional territory of the Nation. Its objective is to ensure surveillance on the land and protection of the Nation, as well as contribute to studies and inventories on the impacts of climate change and industrial development within the territory.

    Project title: Iakwatonhontsanónhnha (We All Mind Her, the Earth)
    Recipient: Mohawk Council of Kahnawà:ke
    Funding amount: $256,416
    Project description: This two-year initiative will develop an Environmental Charter for the community, helping to define roles and responsibilities of Conservation Officers. It will also consult on a Rights of Nature approach to protect the St. Lawrence River.

    Saskatchewan

    Project title: File Hills Qu’Appelle Guardian Initiative
    Recipient: File Hills Qu’Appelle Tribal Council
    Funding amount: $354,180
    Project description: This two-year initiative will monitor and document the health of waterways, including water quality, medicines, and the condition of riverbanks, focusing specifically on the Lower Qu’Appelle River and Chain of Lakes. It will also work to revitalize language and land stewardship practices.

    Project title: Monitoring and Protection of Athabasca Denesųłiné Nuhenéné in Saskatchewan
    Recipient: Ya’thi Néné Land and Resource Office
    Funding amount: $498,916
    Project description: This two-year initiative will monitor lands and waters in Nuhenéné including Indigenous Protected Areas, caribou harvest areas, mineral exploration, and extraction activities. Guided by Elders, a focus of the Ya’thi Néné Lands and Resources’ Guardians is to connect youth back to the land and build future leaders in sustainable management practices.

    Project title: The Birch Narrows Dene Nation Nuh Nene Strategic Plan
    Recipient: Birch Narrows Dene Nation
    Funding amount: $49,917
    Project description: This one-year initiative will monitor the land, combining ancestral wisdom with modern ecological approaches. Strategic partnerships with neighbouring First Nations and partners, such as Tamarack Environmental Associates, NexGen Energy Ltd., and Fission Uranium Corp. will amplify the impact of conservation efforts. Through training, mentorship, and community engagement, the initiative will help the Nuh Nene Department in its goal of safeguarding cultural identity and the natural environment.

    Project title: Pheasant Rump Nakota First Nation Community-Based Guardians Initiative
    Recipient: Pheasant Rump Nakota First Nation
    Funding amount: $350,000
    Project description: This two-year initiative aims to enhance capacity-building by training and employing youth to collect and analyze data about climate change and industrial impacts in the territory. Data will be used to draft a Land Use Management Plan to inform the Chief and Council’s decision-making on stewardship initiatives and habitat management to ensure sustainable sources of traditional food for the community.

    Project title: Muskowekwan First Nation Community-Based Guardians Initiative
    Recipient: Muskowekwan First Nation
    Funding amount: $350,000
    Project description: This two-year initiative aims to enhance capacity-building for community members to monitor and understand the impacts of climate change. This will provide youth with an opportunity to be trained in Indigenous Knowledge, western science, and climate and environmental monitoring practices, including Geographic Information Systems (GIS) and remote sensing, participatory mapping, and knowledge gathering.

    Yukon

    Project title: Teechik Land Guardians: Nanh gwiinzii vik’ite’tri’giikhii (We Read the Land Well)
    Recipient: Vuntut Gwitchin First Nation
    Funding amount: $349,333
    Project description: This two-year initiative will operate a network of camera traps to monitor predator–prey interactions on the Old Crow winter road and conduct baseline fish and water sampling at the headwaters of the Porcupine River. The Guardian Coordinator will be tasked with organizing patrols, analyzing monitoring data, and preparing communication material for community members and leaders. This capacity-building will strengthen monitoring efforts by enabling the initiative to process more samples, improve use of camera data, and allow Guardians to establish an annual trapping camp to expand into furbearer monitoring.

    MIL OSI Canada News –

  • MIL-OSI: Qifu Technology Responds to Short Seller Report

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, Sept. 27, 2024 (GLOBE NEWSWIRE) — Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology” or the “Company”), a leading Credit-Tech platform in China, today issues the following preliminary responses to the key claims made in a report (the “Report”) by Grizzly Research, a short seller, on September 26, 2024.

    The Company believes that the Report is without merit and contains inaccurate information, flawed analyses, misleading conclusions and interpretations regarding information relating to the Company. Specifically:

    The SAMR (SAIC) Financial Data Used in the Report is Completely Wrong.

    The Report makes material mistakes in referring to incorrect financial data (i.e. the combined revenues and net profits) from the filings with the State Administration for Market Regulation (“SAMR”), formerly known as the State Administration for Industry and Commerce (“SAIC”) submitted by the operating entities of the Company. In fact, as the Company’s SAMR filing records demonstrate, the Company’ s major operating entities in China collectively reported total revenues of RMB 17.0 billion in 2022 and RMB 16.0 billion in 2023, with corresponding net profits of RMB 5.2 billion and RMB 4.7 billion, respectively. These revenues and net profits were recorded under PRC GAAP.

    According to the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), for the years 2022 and 2023, under U.S. GAAP and on a consolidated basis, the Company recorded total revenues of RMB16.6 billion and RMB16.3 billion, respectively, and net profits of RMB4.0 billion and RMB4.3 billion, respectively. The differences in total revenues and net profits between the filings with the SAMR and those with the SEC are primarily attributable to differences in accounting treatments under PRC GAAP and U.S. GAAP, as well as the fact that the Company’s major operating entities in China reflected in the SAMR filings do not represent all of the Company’s subsidiaries and consolidated affiliated entities in China.

    The Company has consistently generated robust operating cash flow in recent years and delivered significant returns to shareholders through dividends and stock repurchases. As of the date of this press release, in 2024, the Company has spent more than US$300 million to repurchase its America Depositary Shares (ADSs) on the open market and distributed approximately US$180 million cash dividends to shareholders. The Company’s strong commitment to, and proven track record of, shareholder returns further underscore the baseless nature of the claims made in the Report.

    Rebuttal of Unsubstantiated Media Reports about the Company’s Regional Headquarters

    The Report cites certain media reports about the Company’s regional headquarters in Shanghai that are false and unsubstantiated. In fact, as disclosed in the Company’s filings with the SEC, in October 2020, the Company established a joint venture in Shanghai, together with one of 360 Group entities and an independent third party, to build its regional headquarters and an affiliated industrial park to support the future operations of the Company and 360 Group. The Company and the 360 Group entity held 40% and 30% of the equity interest in the joint venture, respectively. In December 2021, considering the Company’s significant business expansion in Shanghai, the Company acquired the entire 30% equity interest held by the 360 Group entity in the joint venture. Consequently, these facilities will enable the Company to consolidate all its Shanghai-based departments and employees, who are currently dispersed across different locations, into a single office space. The Company believes this will further reduce administrative costs and improve operational efficiency.

    Both the co-investment with the 360 Group in October 2020 and the acquisition of the equity interest in the joint venture from the 360 Group in December 2021 were negotiated and conducted at arm’s length and were approved by the board of directors and the audit committee of the Company.

    The Report also makes a false claim that the Company has acquired another piece of land in the Huangpu District of Shanghai. In fact, the Company did not acquire any land in the Huangpu District of Shanghai.

    Rebuttal of Unsubstantiated Financial Manipulation Claim and Relationship between Shanghai Qibutianxia and the Company

    The claim made in the Report that the Company uses Shanghai Qibutianxia Information Technology Co., Ltd.  (“Shanghai Qibutianxia,” formerly known as Beijing Qibutianxia Technology Co., Ltd.) to manipulate its financial statements is false and unsubstantiated.

    In fact, Shanghai Qibutianxia was the holding company for the Company’s operating entities in China prior to the Company’s reorganization in 2018 for financing and offshore listing on Nasdaq. In July 2016, as a spin-off from 360 Group, Shanghai Qibutianxia incorporated Shanghai Qiyu Information & Technology Co., Ltd. (“Shanghai Qiyu”), and thereafter, the Company started operating independently under Shanghai Qiyu.

    In April 2018, to facilitate the Company’s financing and offshore listing on Nasdaq, a holding company under the Company’s former name, 360 Finance, Inc. was incorporated in the Cayman Islands. As part of the reorganization, the Cayman holding company incorporated an indirectly wholly-owned subsidiary in China, namely Shanghai Qiyue Information & Technology Co., Ltd. (“Shanghai Qiyue”). Shanghai Qiyue entered into a series of “VIE” contractual arrangements with the Company’s three major operating entities in China and their shareholder Shanghai Qibutianxia. As a result, these major operating entities in China became the Company’s VIEs, and Shanghai Qibutianxia remained the nominal shareholder of these VIEs. The contractual arrangements enable the Company to exercise effective control over the Company’s VIEs; receive substantially all of the economic benefits and powers to exercise voting rights of the Company’s VIEs from Shanghai Qibutianxia, and have an exclusive option to purchase all or part of the equity interests in and assets of them when and to the extent permitted by PRC law.

    In addition, the Report erroneously claims that the Company utilized the back-to-back guarantee arrangement with Shanghai Qibutianxia to manipulate its financial statements. In fact, prior to 2023, certain financial institutions required the nominal shareholder of our operating entities (i.e., Shanghai Qibutianxia) to supplementally provide back-to-back guarantees for certain loans facilitated and guaranteed by the Company’s operating entities. Specifically, Shanghai Qibutianxia committed to cover any shortfall if the Company’s operating entities fail to meet its guaranteed repayment obligations to the banks on time. This back-to-back guarantee arrangement did not increase the Company’s risk exposures, nor did it transfer any interest to Shanghai Qibutianxia. As of the date of this press release, there is no outstanding balance under this arrangement.

    The Report erroneously states that Mr. Hongyi Zhou is the controlling shareholder of the Company. In fact, The Company does not have a controlling shareholder. According to the Company’s annual report on Form 20-F filed with the SEC on April 26, 2024, Mr. Hongyi Zhou beneficially owned approximately 13.8% of total ordinary shares of the Company as of February 29, 2024. Mr. Hongyi Zhou was the chairman of the board directors of the Company, but has not been involved day-to-day operations of the company. As announced by the Company on August 13, 2024, Mr. Hongyi Zhou has resigned as a director and the chairman of the board of directors of the Company.

    Rebuttal of Unsubstantiated Claim about Delinquency Rates and Provisions

    The claim made in the Report in relation to the Company’s delinquency rates and provision booking exhibits a fundamental misunderstanding of the Company’s financial practices and the relevant accounting standards. Specifically:

    • The Report inaccurately calculated the Company’s provision ratios by using the total reported provisions to calculate the provision ratio for each period.
    • The Report erroneously included provisions for contingent liabilities in the analysis of receivables provisioning.
    • The Report’s focus on a backward-looking 90 day+ delinquency rate is misplaced.
    • The Report’s claim that the Company’s reported profits are fabricated to account for the missing cash is completely false and unsubstantiated.

    Provision Ratios

    The Report inaccurately calculated the Company’s provision ratios by using the total reported provisions to calculate the provision ratio for each period, which is fundamentally incorrect. According to the accounting standards under U.S. GAAP, each reported provision item reflects the net result of new provisions booked for current period loans and the revision of provisions for existing loans. The Company maintains clear and distinct categories for provisions related to the Company’s loan products: (i) provision for loan receivable, relating solely to the Company’s on-balance sheet loans; (ii) provision for financial assets receivable, relating to the guarantee service fees; (iii) provision for accounts receivable and contract assets, relating to, relating to the loan facilitation service fees;; and (iv) provision for contingent liabilities, relating to the off-balance sheet loans for which the Company provides guarantee services.

    The following chart delineates the components of the Company’s reported provisions for 2022, 2023, and the first half of 2023 and 2024, demonstrating compliance with accounting standards:

    (RMB in millions) 2022   2023   First Half
    of 2023    		   First Half
    of 2024    		  
    New Provisions for Current Period New Loans 7,355   7,647   3,573   2,694  
    Revision of Previous Provisions (write-back) (771 ) (1,880 ) (936 ) (489 )
    Net Provisions 6,584   5,767   2,636   2,205  
    Provision for Loans Receivable 1,580   2,151   1,002   1,697  
    Provision for Financial Assets Receivable 398   386   151   169  
    Provision for Accounts Receivable and Contract Assets 238   176   45   235  
    Provision for Contingent Liabilities 4,368   3,054   1,438   103  
    New Provisions Booking Ratio                
    Provision Ratio for Loan Receivable1 2.9 % 2.9 % 2.8 % 3.4 %
    Provision Ratio for Contingent Liabilities2 4.1 % 4.0 % 3.7 % 4.1 %
                     

    __________________
    Notes:
    1. “Provision Ratio for Loan Receivable” refers to the total amount of new provisions for loan receivable for a specific period divided by the loan facilitation volume of on-balance sheet loans for that period.
    2. “Provision Ratio for Contingent Liabilities” refers to the total amount of new provisions for contingent liabilities for a specific period divided by capital-heavy loan facilitation volume for that period.

    Provisions for Contingent Liabilities

    In addition, the Report erroneously included provisions for contingent liabilities in the analysis of receivables provisioning. In fact, provisions for contingent liabilities pertain only to off-balance sheet loans that the Company guarantees. These provisions are entirely separate from receivables on the balance sheet and should not be conflated. In fact, the Company has consistently applied a prudent approach to managing business risks and financial provisions. The historical data listed above also showcases the Company’s commitment to maintaining appropriate provision ratios against the Company’s risk-bearing loans.

    Delinquency Rate

    The Report’s focus on a backward-looking 90 day+ delinquency rate1 is misplaced. The Company prioritizes leading risk indicators that provide a proactive view of credit risk, such as: (i) Day-1 delinquency rate2, which measures delinquency based on the day before the reporting period, offering a real-time risk assessment; and (ii) 30 day collection rate3, which tracks the efficiency of collections within a short timeframe, enabling timely interventions. These forward-looking metrics provide a more accurate and actionable assessment of credit risk compared to traditional delinquency rates. In fact, the Company’s D-1 delinquency rate and 30 day collection rate in the past two quarters both indicate the improving quality of the Company’s loan portfolios.

    Decreases in Cash

    The Report’s claim that the Company’s reported profits are fabricated to account for the missing cash is completely false and unsubstantiated. The Company’s cash and cash equivalent decreased from RMB10.5 billion as of December 31, 2022 to RMB 8.4 billion as of June 30, 2024 primarily because the growth in the Company’s on-balance sheet loans, cash dividends distributed to shareholders, and stock repurchase program. Specifically, the Company’s on-balance sheet loan balances increased from RMB19.5 billion as of December 31, 2022 to RMB32.1 billion as of June 30, 2024. In addition, from December 31, 2022 to June 30, 2024, the Company has distributed approximately RMB3.6 billion to shareholders through dividends and share buybacks, resulting in a reduction in cash and cash equivalent.

    Non-Risk-Bearing Loans are Irrelevant to Leverage Ratio

    The claim made in the Report that the Company’s is secretly overleveraged lacks factual basis and misunderstands the Company’s financial structure and risk management strategies. Specifically, the Report erroneously uses the total outstanding loan balances facilitated by the Company for calculating its leverage ratio. By definition, the leverage ratio is relevant only to risk-bearing assets, which include both on-balance sheet loans and capital-heavy loan facilitation. As disclosed in the Company’s filings with the SEC, the outstanding balances of the Company’s risk-bearing loans accounted for only 34.2% of the total outstanding loan balances facilitated by the Company as of June 30, 2024. As of the same date, the Company’s leverage ratio was 2.4, reaching a historical low. The company employs robust risk management frameworks to monitor and control leverage, ensuring sustainability and financial stability.

    Rebuttal of Unsubstantiated Claim About Loan Annual Interest Rates

    The claim made in the Report that the Company issues loans at rates that exceed legal limits is categorically false and misleading. For example, the Report falsely claimed that regulatory guidance in China stipulates that the interest rate for the Company’s businesses should not exceed four times the one-year Loan Prime Rate at the time of the establishment of an agreement (the “Quadruple LPR Limit”). In fact, the Chinese Supreme People’s Court issued a guidance in December 2020, stipulating that the Quadruple LPR Limit does not apply to disputes arising from engagement in relevant financial businesses of certain financial institutions, including micro-lending companies and financing guarantee companies, such as the Company’s operating entities. The Company operates in strict compliance with all regulatory requirements that governs loan annual interest rate limits.

    The Company emphasizes its continued and unwavering commitment to maintaining high standards of corporate governance and internal control, as well as transparent and timely disclosure in compliance with applicable rules and regulations. To protect the interests of the Company and its shareholders, the Company will vigorously defend itself against false and baseless claims made by short seller reports.

    The Company’s board of directors (the “Board”), including the audit committee, is reviewing the allegations and considering the appropriate course of action to protect the interests of all shareholders. The Company will make additional disclosures in due course consistent with the requirements of applicable rules and regulations of the U.S. Securities and Exchange Commission, The Nasdaq Stock Market, and The Stock Exchange of Hong Kong Limited.

    About Qifu Technology

    Qifu Technology is a leading Credit-Tech platform in China that provides a comprehensive suite of technology services to assist financial institutions and consumers and SMEs in the loan lifecycle, ranging from borrower acquisition, preliminary credit assessment, fund matching and post-facilitation services. The Company is dedicated to making credit services more accessible and personalized to consumers and SMEs through Credit-Tech services to financial institutions.

    For more information, please visit: https://ir.qifu.tech.

    Safe Harbor Statement

    Any forward-looking statements contained in this announcement are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. Qifu Technology may also make written or oral forward-looking statements in its periodic reports to the SEC, in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including the Company’s business outlook, beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, which factors include but not limited to the following: the Company’s growth strategies, the Company’s cooperation with 360 Group, changes in laws, rules and regulatory environments, the recognition of the Company’s brand, market acceptance of the Company’s products and services, trends and developments in the credit-tech industry, governmental policies relating to the credit-tech industry, general economic conditions in China and around the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks and uncertainties is included in Qifu Technology’s filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and Qifu Technology does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For more information, please contact:

    Qifu Technology

    E-mail: ir@360shuke.com

    _____________________________________
    1 “90 day+ delinquency rate” refers to the outstanding principal balance of on- and off-balance sheet loans that were 91 to 180 calendar days past due as a percentage of the total outstanding principal balance of on- and off-balance sheet loans across our platform as of a specific date. Loans that are charged-off and loans under “ICE” and other technology solutions are not included in the delinquency rate calculation.
    2“Day-1 delinquency rate” is defined as (i) the total amount of principal that became overdue as of a specified date, divided by (ii) the total amount of principal that was due for repayment as of such specified date.
    3 “30 day collection rate” is defined as (i) the amount of principal that was repaid in one month among the total amount of principal that became overdue as of a specified date, divided by (ii) the total amount of principal that became overdue as of such specified date.

    The MIL Network –

  • MIL-OSI Russia: Financial News: Loan Volume Increases as Collateral Values Rise: Pawnshop Market Trends in H1 2024

    MILES AXLE Translation. Region: Russian Federation –

    Source: Central Bank of Russia –

    The loan portfolio has grown by 13% since the beginning of the year and amounted to 62.6 billion rubles. Demand for loans remains stable: in the first half of 2024, pawnshops concluded slightly more than 4 million contracts per quarter on average. The average loan amount increased by 8% compared to the previous period and exceeded 17 thousand rubles. This dynamic is due to the increase in the cost of collateral – mainly gold items.

    According to a survey conducted by the Bank of Russia, pawnshops identify three main factors that determine the demand for their services: the income level of the population, financial accessibility and the debt burden of the population.

    Read more in the article “Trends in the development of the pawnshop market”.

    Preview photo: LanKS / Shutterstock / Fotodom

    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.kbr.ru/press/event/?id=21037

    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 Banking: BaFin warns consumers about website arrowfortune.com

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about services offered on the website arrowfortune.com. According to information available to BaFin, the operator, Arrow Fortune Limited, is offering financial and investment services on this website without authorisation.

    On its website, Arrow Fortune Limited provides a business address in London, United Kingdom. The company also claims to be registered in St. Vincent and the Grenadines and that it is regulated by BaFin, among others. However, this is not the case.

    Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

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

    MIL OSI Global Banks –

  • MIL-OSI Banking: finacix.com: BaFin warns about website and suspected identity theft

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The website contains contradictory information on the identity of the provider. According to the “Risk Warning”, the website is operated by Finance and Investment Solutions Ltd., while the “Website Terms of Use” names Finacix Ltd. as operator.

    Finance and Investment Solutions Ltd. claims to be registered with the British Financial Conduct Authority (FCA). Since a company by this name is indeed registered with the FCA, BaFin suspects this to be a case of identity theft.

    Finacix Ltd., on the other hand, claims to be registered with the “Securities Commission of the United Kingdom (SCUK)”. There is no such authority in the United Kingdom. The website states an address in London, United Kingdom, as the company’s registered office.

    Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

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

    MIL OSI Global Banks –

  • MIL-OSI Banking: BaFin warns consumers about websites westhill-pros.net and kaiser-investrade.com

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The operator of the website westhill-pros.net refers to itself only as “Westhill Pros” without stating the company’s legal form and provides business addresses in Sydney, Australia, in Stockholm, Sweden, and in London, United Kingdom. Responsibility for the website kaiser-investrade.com is claimed by Kaiser Invest Trade, which likewise does not state the company’s legal form. The company claims to be domiciled in London, United Kingdom, without providing a specific business address.

    BaFin has recently become aware of a number of websites with almost identical content and has warned consumers about them. On all of the websites, the following sentence is displayed at the top of the homepage: “Step Into the Trading Arena with Confidence & [name of website]“.

    Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

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

    MIL OSI Global Banks –

  • MIL-OSI USA: Reschenthaler Opposes Allegheny Mountain Realignment Turnpike Project Proposal

    Source: United States House of Representatives – Congressman Guy Reschenthaler (PA-14)

    September 27, 2024

    WASHINGTON, D.C.—Chief Deputy Whip Guy Reschenthaler (R-PA) urged the Pennsylvania Turnpike Commission (PTC) to reconsider its plans regarding the Allegheny Mountain Realignment Project in Allegheny and Stonycreek Townships, Pennsylvania.

    According to local officials and community stakeholders, the Gray Cut plan which includes constructing a 3.8-mile three lane roadway south of the existing tunnel would cause a groundwater loss that will negatively impact wetland and water sources. Thousands of businesses, organizations, and communities in Pennsylvania’s 14th Congressional District rely on the Laurel Highlands and its scenery to stimulate our region’s economy and foster a sense of community.

    In the letter, Reschenthaler wrote: “I urge PTC to reconsider alternative plans in collaboration with the local community. It is critical that we do not jeopardize decades of work done by these stakeholders to make Somerset County a beautiful place to live, visit, and do business.”

    In November 2021, PTC commissioned a study that determined improvements to the Allegheny Tunnel in Somerset County were necessary. After exploring eight potential alternatives to address the needs, PTC chose the Gray Cut option despite concerns from the local community and burden on taxpayers and motorists.

    Others opposed to the proposal include State Representative Carl Metzgar, Somerset County Commissioners, the Somerset County Conservancy, and the Municipal Authority of the Borough of Berlin, among other local organizations.

    Read the full letter here.

    MIL OSI USA News –

  • MIL-OSI Africa: African Development Bank Group’s Sustainable Energy Fund for Africa approves €6 Million for Desert to Power – Burkina Faso Solar Project

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

    African Development Bank Group’s Sustainable Energy Fund for Africa approves €6 Million for Desert to Power – Burkina Faso Solar Project Burkina Faso is one of five priority countries under the Desert-to-Power initiative, which aims to generate 10 gigawatts of solar power across 11 Sahelian countries by 2030 ABIDJAN, Ivory Coast, September 27, 2024/APO Group/ — The African Development Bank Group (www.AfDB.org) has approved a €6 million concessional financing package from the Sustainable Energy Fund for Africa (SEFA), a special multi-donor fund managed by the Bank, to accelerate the completion of Burkina Faso’s Dédougou photovoltaic solar project in support of the Bank’s Desert-to-Power initiative (https://apo-opa.co/3XKXpwG). The project involves designing, constructing and operating an 18-megawatt solar power plant in Dédougou, located 250 kilometres west of the capital, Ouagadougou. Burkina Faso is one of five priority countries under the Desert-to-Power initiative, which aims to generate 10 gigawatts of solar power across 11 Sahelian countries by 2030, promoting socio-economic development. This project stands as one of the first independent power producers (IPPs) in Burkina Faso and has secured both senior and subordinated loans, along with a 25-year Power Purchase Agreement (PPA) with the Société Nationale d’électricité du Burkina Faso (SONABEL). However, the project encountered challenges in reaching financial close due to cost escalations resulting from the COVID-19 pandemic.  The SEFA Covid-19 IPP Relief Programme (SEFA Programme) played a pivotal role in overcoming these hurdles. Through concessional financing, SEFA helped restructure the financial arrangements to absorb the pandemic-related cost increases, ensuring the project’s viability and preserving the originally agreed structure with the Government of Burkina Faso, thereby contributing to the country’s energy security. Under the SEFA Programme, a €2.5 million senior concessional loan and a €3.5 million reimbursable grant have been provided through its concessional finance facility. SEFA’s involvement has been instrumental in unlocking additional financing from the Dutch entrepreneurial development bank, FMO (www.FMO.nl), including subordinated and senior loans. These funds will be disbursed to Dédougou Solaire SARL, the project company jointly developed by QAIR (www.Qair.Energy), which is responsible for managing the project. As part of the Desert-to-Power initiative, the project is expected to contribute to energy security, diversification of the energy mix, reduced electricity costs, and increased national electrification rates. “The Dédougou Solar PV project increases Burkina Faso’s renewable energy generation capacity in line with the objectives of the Desert-to-Power Initiative. By backing projects like this, we are making tangible strides toward electrifying the Sahel, bolstering energy security, and improving the lives of millions,” said Dr. Daniel SCHROTH, Director of the Renewable Energy and Energy Efficiency Department at the African Development Bank. “Abdoulaye Toure, CFO at Qair Africa, acknowledged SEFA’s support and the project’s advancement: “We are pleased with this approval by SEFA and thank the African Development Bank for their support of the project. This allows us to move forward with our commitment to supporting Burkina Faso’s energy goals by developing a second solar plant, just a year after the successful commissioning of Zano. This achievement aligns with the country’s ambitions for energy supply and reinforces Qair’s vision of becoming a leading player in Africa’s renewable energy sector in the coming years.” Distributed by APO Group on behalf of African Development Bank Group (AfDB). Contact: Communication and External Relations media@afdb.org About SEFA: SEFA is a multi-donor Special Fund that provides catalytic finance to unlock private sector investments in renewable energy and energy efficiency. SEFA offers technical assistance and concessional finance instruments to remove market barriers, build a more robust pipeline of projects and improve the risk-return profile of individual investments. The Fund’s overarching goal is to contribute to universal access to affordable, reliable, sustainable, and modern energy services for all in Africa, in line with the New Deal on Energy for Africa and Sustainable Development Goal 7. About Qair: Qair is an independent renewable energy company developing, financing, building, and operating solar, onshore and offshore wind, hydroelectric, tidal energy, waste-to-energy, battery storage and green hydrogen production. With 1.1 GW of capacity in operation, the group’s 640 employees are developing a portfolio pipeline of 30 GW in 20 countries across Europe, Latin America and Africa. Our ambition is to become an independent leader in responsible energy. In Africa, Qair’s portfolio of wind, PV and BESS assets includes 65 MW operational projects, 174 MW/262 MWh under construction or financing and a robust pipeline under development of 2GW+. With over 15 years of presence in Africa and teams established in Burkina Faso, Chad, Mauritius, Morocco, Seychelles, and Tunisia, Qair continually expands its geographical footprint across North, Central and West Africa and the Indian Ocean. Qair has already completed another 24MW solar PV project (Zano) in Burkina Faso, which was awarded under a public-private partnership (PPP) with GoBF along with a PPA with the National Electricity Company (SONABEL). About FMO: FMO is the Dutch entrepreneurial development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a 50+ year proven track record in empowering entrepreneurs to make local economies more inclusive, productive, resilient and sustainable. FMO focuses on three sectors with a high development impact: Agribusiness, Food & Water, Energy, and Financial Institutions. With a total committed portfolio of EUR ~13 billion spanning over 85 countries, FMO is one of the larger bilateral private sector development banks globally. About the African Development Bank Group: The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

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    MIL OSI Africa –

  • MIL-OSI USA: President Biden Approves Major Disaster Declaration for July 29-31 Flooding

    Source: US State of Vermont

    Montpelier, Vt. – President Joe Biden has approved a Major Disaster Declaration to help communities and individuals in Caledonia, Essex, and Orleans counties recover from damages caused by rainfall and severe flooding July 29-31, 2024.

    The overnight storm devastated areas of the Northeast Kingdom, some for the second time in three weeks. The storm left beleaguered road crews with weeks more of repair work and some residents without homes. This declaration includes Public Assistance funding to pay for public infrastructure repairs, Individual Assistance grants to help people recover some of their losses, and Hazard Mitigation Grant Program funding to help Vermont towns build back stronger.

    “This is our third disaster declaration in just over a month and seventh in 14 months,” Governor Phil Scott said. “This disaster declaration will bring much needed financial resources to towns and individuals as they continue to recover from the impacts of this storm.”

    A partial federal damage assessment identified more than $3.7 million in public infrastructure damage caused by that storm, and the final tally will likely be much higher. According to the initial assessment, floodwaters also destroyed or damaged 85 homes across the three counties.

    The Individual Assistance (IA) program helps people impacted by the disaster seek some reimbursement for necessary expenses and serious needs that cannot be met through insurance or other forms of assistance. Eligible expenses include rental assistance, home repair, home replacement, lodging, and other expenses.

    To apply for IA funds, impacted Vermonters in the eligible counties should register at www.DisasterAssistance.gov or call 1-800-621-3362. Even if you have previously reported damage to 2-1-1, you must register with and apply to FEMA.

    Vermont Emergency Management will contact communities in Caledonia, Essex, and Orleans counties seeking reimbursement for storm response and recovery to provide information about the Public Assistance (PA) program for federal reimbursement.

    ###

    MIL OSI USA News –

  • MIL-OSI Translation: Indigenous Guardian Projects 2024-2025

    MIL OSI Translation. Canadian French to English –

    Source: Government of Canada – in French 2

    Today, Jaimee Gaunce, Executive Director of the First Nations National Guardians Network (FNGN), joined the Honourable Steven Guilbeault, Minister of Environment and Climate Change, the Honourable Patty Hajdu, Minister of Indigenous Services and Minister responsible for the Federal Economic Development Agency for Northern Ontario, and Marcus Powlowski, Member of Parliament for Thunder Bay–Rainy River, to announce an investment of up to $27.6 million to support 80 First Nations Guardians initiatives.

    Alberta

    Project Title: Mikisew Cree First Nation Guardians ProgramRecipient: Mikisew Cree First Nation – Government and Industry RelationsFunding Amount: $350,000Project Description: This ongoing, two-year initiative will study how oil sands development, specifically bitumen extraction and hydroelectric projects, is affecting the health of the Peace-Athabasca Delta, the heart of the Mikisew’s traditional territory. Guardians work throughout the year to monitor water quality, collect data, detect flooding and monitor fish populations.

    Project Title: Ni Ho Ghe Di – Athabasca Chipewyan First Nation Guardians ProgramRecipient: Dene Land and Resource ManagementFunding Amount: $350,000Project Description: This two-year initiative will monitor and report activities that may harm the ecology, traditional lands or traditional resources of the Athabasca Chipewyan First Nation, such as poaching and illegal hunting on traditional territory, particularly to protect the Ronald Lake bison. The initiative will also help youth build cultural pride and connection to the land, as well as develop on-the-land skills.

    Project Title: Guardians of the Land – Dene Tha’ First NationRecipient: Dene Tha’ First NationFunding Amount: $350,000Project Description: This two-year initiative will include activities such as ecological restoration, support for resource management plans, and compliance with laws and regulations. Guardians will contribute to the protection and recovery of species at risk, manage land use in the proposed M’behcholia Indigenous Protected and Conserved Area (Bistcho Lake, Alberta), and provide environmental and wildlife monitoring.

    Project Title: Alexis Nakota Sioux Nation Guardians InitiativeRecipient: Alexis Nakota Sioux NationFunding Amount: $346,400Project Description: This two-year initiative will include conducting and analyzing aerial surveys, creating a Geographic Information System (GIS) data management and visualization system using RStudio and ArcPY, and continuing to develop the Stoney Lands and Waters course.

    British Columbia

    Project Title: Kitasoo Xai’xais Nation Guardian Program EnhancementRecipient: Kitasoo Xai’xais NationFunding Amount: $604,925Project Description: This two-year initiative will focus on marine and terrestrial surveys, as well as compliance and enforcement practices that include education, observation and reporting. In addition, guardians participate in Coastal First Nations Coast Guard Auxiliary activities and receive training on emergency response to search and rescue and oil spills.

    Project Title: Coastal Stewardship NetworkRecipient: Great Bear Initiative SocietyFunding Amount: $499,785Project Description: This two-year initiative provides programming to the eight member nations of the Great Bear Initiative of Coastal First Nations, who work directly with communities to support Guardians along the North and Central Coast and Haida Gwaii to monitor resource use and ecosystem health, provide training and professional development opportunities, raise awareness, and foster coastal stewardship.

    Project Title: Songhees Nation Guardians ProgramRecipient: Songhees NationFunding Amount: $50,000Project Description: This one-year initiative continues work already begun with community members, band council and outside organizations to provide monitoring services, promote community stewardship and restore habitat areas. This initiative helps strengthen Indigenous presence on the water during fishing seasons as it is essential to establishing greater authority over fisheries and coastal resources on the land.

    Project Title: Lower Nicola Indian Band – Indigenous Guardians Program – Tier 1Recipient: Lower Nicola Indian BandFunding Amount: $49,450Project Description: This one-year initiative aims to build capacity, skills and knowledge to implement a new Guardians Program in the community. This program will include mapping and indexing areas of the territory, consulting with Elders and Knowledge Keepers, community engagement, developing a plan and working with Chief and Council to ensure alignment of the vision and strategic plan.

    Project Title: Mamalilikulla First Nation Guardian ProgramRecipient: Mamalilikulla First NationFunding Amount: $350,000Project Description: This two-year initiative includes ongoing activities where guardians will spend time in the field collecting data, monitoring cultural sites, managing grizzly bear populations, planting crabapple trees to feed the bears, and improving fisheries. This work will help Chief and Council make informed decisions.

    Project Title: Wet’suwet’en First Nation Guardians Initiative: A Holistic ApproachRecipient: Wet’suwet’en First NationFunding Amount: $75,745Project Description: This one-year initiative will monitor and collect data on moose populations and mortality rates, assess wildlife habitat, install camera traps, and assess riparian areas. It will also explore the possibility of launching a water monitoring program in identified priority areas. These efforts will help the community observe and document activities or cumulative effects that impact their ability to practice their traditional way of life.

    Project Title: Indigenous Guardians Proposal for Saulteau First NationsRecipient: Saulteau First NationsFunding Amount: $350,000Project Description: This two-year initiative will support the community in taking the lead in monitoring, protecting and restoring lands and waters, which is essential to the health and well-being of the community. Activities include supporting healthy food harvesting, cultural activities, protecting Klinse-za Park, monitoring climate change and understanding how events such as wildfires affect the community, changes in weather patterns, and changes in animal movements and water availability.

    Project Title: Saik’uz Guardians ProgramRecipient: Saik’uz First NationFunding Amount: $350,000Project Description: This two-year initiative will build on the long-term monitoring efforts of the Saik’uz Guardians community-based initiative. Guardians will be guided by the wisdom of Indigenous knowledge and Western science, with the goal of empowering the Nation with respect to the water and land of the territory.

    Project Title: P’egp’ig’lha GuardiansRecipient: P’egp’ig’lha Council/T’it’q’et First NationFunding Amount: $350,000Project Description: This two-year initiative will conduct land patrols to monitor the health of the land and study wildlife and fisheries. Guardians play a vital role in protecting and restoring the Stein-Nahatlatch grizzly bear population, supporting wildfire recovery efforts, and strengthening collaboration with other guardian programs in the area.

    Project Title: Pauquachin First Nation Marine Department – Stewardship InitiativeRecipient: Pauquachin First NationFunding Amount: $350,000Project Description: This two-year initiative will monitor one of British Columbia’s busiest and most heavily used waterways. Guardians monitor culturally sensitive archaeological sites, harvest areas, recreational and commercial fisheries use, environmental threats (pollution sources, marine waste disposal, illegal activities and poaching), and conduct restoration work in designated areas of significance. This initiative represents the interests, concerns and goals of the community to ensure that waterways, foods, historic sites and cultural practices are sustained for generations to come.

    Project Title: Takla Nation Guardians Initiative – Tier 2Recipient: Takla NationFunding Amount: $499,959Project Description: This ongoing initiative is monitoring over 30 sites on Takla lands and waters. This work is critical to the Takla’s ability to implement environmental and cultural protections, including ensuring that archaeological impact assessments conducted by various developers and government agencies are consistent with the Takla Archaeology Policy. It also builds capacity to monitor caribou and moose populations and supports the Guardians program by encouraging youth engagement in the community.

    Project Title: Tsilhqot’in Guardians NetworkRecipient: Tsilhqot’in National GovernmentFunding Amount: $500,000Project Description: This two-year initiative, led by the Tsilhqot’in National Government in collaboration with six Tsilhqot’in communities – Xeni Gwet’in, Tlesqox, Tletinqox, Tsi Del Del, ?Esdilagh and Yunesit’in – aims to integrate and strengthen Tsilhqot’in values into the management of lands and waters in the region. In partnership with provincial and federal land and water management agencies, the Guardians will conduct hunting, fishing and fire prevention patrols, as well as wildlife and water monitoring research to ensure sustainable management of Tsilhqot’in territories.

    Project Title: Quatsino Axsilaxa Ahwheatnagwusn Guardians ProgramRecipient: Quatsino First NationFunding Amount: $342,765Project Description: This two-year initiative will support the implementation of the Quatsino Land Use and Marine Resource Use Plan. This will be done through field work such as data collection and monitoring. These efforts will be critical to ecosystem restoration and food security through local harvesting of traditional foods.

    Project Title: Nłeʔképmx GuardiansRecipient: Citxw Nlaka’pamux AssemblyFunding Amount: $350,000Project Description: This two-year initiative will continue to build on-the-ground presence and awareness of Nłeʔképmx territory, protocols and cultural practices. Guardians will monitor and record activities on the land, focusing on priority areas identified by the Citxw Nlaka’pamux Assembly. These priority areas include hunting, fishing, gathering and other culturally significant areas. Nłeʔképmx Guardians will record, monitor and manage invasive species and contribute to research on species at risk on the territory.

    Project Title: Supporting and Maintaining a Strong and Effective Heiltsuk Guardian ProgramRecipient: Heiltsuk Integrated Resource Management Department of the Heiltsuk Tribal CouncilFunding Amount: $349,499Project Description: This two-year initiative will focus on building capacity, monitoring local aquatic ecosystems and community fisheries for safe operations, and supporting and restoring the vital relationship between people and the land.

    Project Title: Haa Aaní Tulatín – Taku River Tlingit First Nation Land Guardians ProgramRecipient: Taku River Tlingit First NationFunding Amount: $349,600Project Description: This two-year initiative will address threats to the land and monitor salmon populations. The guardians will work to strengthen salmon stewardship by hosting multi-day camps that focus on traditional fishing, intergenerational knowledge transfer, and land monitoring.

    Project Title: Spuzzum First Nation Land Guardians InitiativeRecipient: Spuzzum Indian BandFunding Amount: $50,020Project Description: This one-year initiative will focus on protecting important ecosystems by monitoring key territorial and cultural sites, collecting ecological data, and saving endangered species such as the Northern Spotted Owl. The guardians will also contribute to the development of a stewardship policy framework.

    Project Title: Kwadacha First Nation Guardians Project – Level 2Recipient: Kwadacha First NationFunding Amount: $348,734Project Description: This two-year initiative will provide long-term ecological and cultural monitoring to track changes in key wildlife habitats, traditional food sources and water sources. This will provide an opportunity to discuss how potential changes may impact Dene roles and responsibilities on the land.

    Project Title: Doig River First Nation Guardians ProgramRecipient: Doig River First NationFunding Amount: $349,188Project Description: This two-year initiative will focus on improving land and water monitoring by combining cultural methods and western science. Doig River First Nation Guardians will continue to monitor the health of the land, guided by their members, and will work collaboratively with government to address any impacts.

    Project Title: Nahnéhé Gegenı́hı/Kakinawetakwow Uski/Fort Nelson First Nation Land Guardians InitiativeRecipient: Fort Nelson First NationFunding Amount: $375,000Project Description: This two-year initiative supports stewardship, land management and cultural activities on Fort Nelson First Nation territory. The initiative is informed by Western scientific monitoring and research, while drawing on Indigenous ways of knowing and understanding the health and condition of lands and waters.

    Project Title: Scianew Guardians InitiativeRecipient: Beecher Bay First NationFunding Amount: $348,614Project Description: This two-year initiative will focus on environmental conservation and monitoring, guardian training, impact assessments, territorial sovereignty and maritime safety. This will be accomplished through partnerships with neighbouring nations, the Western Canada Marine Response Corporation (WCMRC) and Kotug Canada.

    Project Title: Upper Similkameen Indian Band Land Guardians ProgramRecipient: Upper Similkameen Indian BandFunding Amount: $391,894Project Description: This two-year initiative aims to address critical environmental challenges while deeply integrating Indigenous knowledge, community engagement and sustainable practices. The Guardians initiative focuses on land conservation, sustainable resource management and building ecosystem resilience.

    Project Title: Boothroyd Guardians Program ImplementationRecipient: Boothroyd Indian BandFunding Amount: $50,000Project Description: This one-year initiative will monitor environmental indicators on the land and support restoration work in areas damaged by wildfires and subsequent erosion. Boothroyd Guardians will work with land user groups to improve understanding and respect for the environment.

    Project Title: TTQ Guardian Program Initiation ProjectRecipient: TTQ Economic Development CorporationFunding Amount: $62,533Project Description: This one-year initiative will collect and interpret previously recorded Xa’xtsa cultural knowledge data, map priority areas, and develop a monitoring plan. The goal is to observe changes in the supply of traditional herbs and plants, the frequency and impact of foraging on the territory, the vitality of salmon spawning, changes in unauthorized camping, and invasive plant and animal species.

    Project Title: Wildfire Recovery MonitoringRecipient: Okanagan Indian BandFunding Amount: $350,000Project Description: This two-year initiative will assess the condition of the White Rock Lake watershed before and after the wildfires on behalf of the Okanagan Indian Band. Guardians will conduct site assessments, inventory significant cultural resources, monitor wildlife, and assess the severity of fire damage to guide restoration efforts.

    Project Title: Nanwakolas – Stewardship through Indigenous Scientific KnowledgeRecipient: Nanwakolas Council CorporationFunding Amount: $500,000Project Description: This two-year initiative will apply Kwakwaka’wakw values and Indigenous scientific knowledge to a variety of projects including loxiwe (clam garden) restoration, canoe carving, seasonal Guardian Gathering events, and data collection on water, wildlife monitoring, climate change studies, and emergency response planning.

    Project Title: Continuing Implementation of the Skwxwú7mesh Úxwumixw (Squamish Nation) Guardian Program InitiativeRecipient: Squamish Nation – Squamish Indian Band 555Funding Amount: $349,505Project Description: This two-year initiative will provide stewardship activities, respond to climate events and emergencies, and enhance public safety. Guardians will continue to be present on the land and learn from Elders, Knowledge Keepers and youth; and collaborate with other Nations to share information and build capacity across the national Guardian network.

    Project Title: Guardians of the St’át’imc LandRecipient: St’at’imc Government ServicesFunding Amount: $425,180Project Description: This two-year initiative will focus on implementing the St’át’imc Water Agreement. It includes collecting baseline data on three intact watersheds and three impacted watersheds to assess water quality. Other activities include capacity building and examining stories and legends through workshops and research in collaboration with the Indigenous Law Research Unit.

    Project Title: Nak’azdli Whut’en Yinka Huwunline (Caring) Guardian ProgramRecipient: Nak’azdli Whut’enFunding Amount: $349,942Project Description: This two-year initiative will develop geospatial mapping technology for Guardians to use in their monitoring activities. This will create open portals for communication while protecting internal data and cultural information. The project will use remote sensing technology to create “living maps” that will track seasonal phenology, quantify impacts, and provide informed stewardship engagements with industry, government, consultants, and academia.

    Project Title: Yintah Guardians of Lake Babine NationRecipient: Lake Babine NationFunding Amount: $350,000Project Description: This two-year initiative will lead the collaborative management of the Yintahs of Lake Babine Nation territory and resources of two key cultural species, talok (sockeye) and khida (moose), to restore moose populations to culturally significant levels, and support fish monitoring, habitat restoration and cooperative management.

    Manitoba

    Project Title: Seal River Watershed Alliance Land Guardian NetworkRecipient: Seal River Watershed AllianceFunding Amount: $500,000Project Description: This two-year initiative will hire 14 youth and Elders as Land Guardians across the four Alliance Nations. This initiative builds technical capacity and manages species and habitat identification, monitoring, protection, and watershed stewardship.

    Project Title: Askiy Okanawaynichikaywuk – Guardians of the LandRecipient: York Factory First Nation Funding Amount: $349,860Project Description: This two-year initiative will maintain trails, monitor cultural and historical sites, observe changes in the land, and support respectful land use. Guardians will provide a visible presence, conduct community outreach, participate in on-the-ground activities, and help guide Council decisions on land use, stewardship, and protection.

    Project Title: Pimachiowin Aki First Nations Guardians NetworkRecipient: Pimachiowin Aki CorporationFunding Amount: $499,615Project Description: This two-year initiative will focus on monitoring the seasonal walleye fishery, all-season road design, wildfire management, and climate change adaptation and mitigation. Guardians provide a professional presence and expertise in Pimachiowin Aki, expressing their belonging to the Anishinaabe Nation, filling gaps in the provincial information management system and patrols, and conducting year-round monitoring activities.

    Project Title: SCOB Regional First Nations Guardians NetworkRecipient: Southern Chiefs’ Organization Inc.Funding Amount: $500,000Project Description: This two-year initiative will focus on strengthening Indigenous jurisdiction over their traditional lands, developing capacity, training and skills in environmental monitoring and management, and promoting cooperation and collaboration among communities on natural resource stewardship and management issues.

    Project Title: Swan Lake First Nation Indigenous Guardians Land, Water and Nature Stewardship InitiativeRecipient: Swan Lake First NationFunding Amount: $349,285Project Description: This two-year initiative, in collaboration with Agriculture and Agri-Food Canada, will continue to assess and reseed revegetation terraces if necessary, monitor water quality from the tile drainage structure, and monitor animal and pollinator populations. The data collected will help understand the success of this project in reducing nutrient pollution and improving ecosystems.

    New Brunswick

    Project Title: Amlamgog Earth GuardiansRecipient: Fort Folly First NationFunding Amount: $321,411Project Description: This two-year initiative will expand and enhance an existing salmon recovery initiative. This initiative will focus on monitoring flora and fauna, in accordance with the traditional guiding principle of “Etuaptmumk” (two-eyed vision).

    Project Title: Wotstak First Nation Guardians Initiative – Tier 1Recipient: Woodstock First NationFunding Amount: $50,000Project Description: This one-year initiative will collect data and monitor the ecosystem, drawing on the knowledge of Woodstock First Nation’s Indigenous traditions of conservation, with the goal of developing a land use plan.

    Project Title: Elugweieg Toqwe’gig ugjit Ugs’tqamu aq ugjit Sapo’nug (We work together for the land and for tomorrow)Recipient: Esgenoôpetitj Watershed AssociationFunding Amount: $349,923Project Description: This two-year initiative will expand monitoring and governance of the Esgenoôpetitj aquatic environment, led by Esgenoôpetitj First Nation Fishery Guardians, in collaboration with Fisheries and Oceans Canada enforcement staff, as part of the management, conservation and protection of fisheries in areas most frequented by the community.

    Newfoundland and Labrador

    Project Title: Innu Nation Guardians ProgramRecipient: Innu Nation – Environment and Parks OfficesFunding Amount: $700,000Project Description: This two-year initiative will integrate the Innu (Natuashish) communities of Sheshatshiu and Mushuau Innu through environmental stewardship and cultural preservation. The initiative will focus on five objectives: the creation of additional guardian positions, technical and safety training, the organization of youth workshops on knowledge transfer, the purchase of necessary equipment, and the development of cultural initiatives to maintain and promote Innu traditions and ecological knowledge.

    Nova Scotia

    Project Title: Reconnecting Our People with the LandBeneficiary: Eskasoni Fish

    Project Title: Nova Scotia Land Guardians Network/Nuji kelo’toqatijikRecipient: Unama’ki Institute of the Natural Resources SocietyFunding Amount: $500,000Project Description: This two-year initiative involves collecting and sharing Indigenous knowledge, promoting Netukulimk hunting practices, monitoring and data collection including designating areas suitable for cultural activities, harvesting medicinal plants, monitoring species at risk, and education and awareness of culturally significant species.

    Northwest Territories

    Project Title: Ni hat’ni Dene (“Keepers of the Land”)Recipient: Lutsel K’e Dene First NationFunding Amount: $349,600Project Description: This two-year initiative is part of a long-term mandate to promote Thaidene Nene stewardship, working full-time as guardians of the land, water and animals, and as ambassadors of the Dene way of life, and welcoming visitors. Initiatives include protecting Bathurst caribou, sharing cultural knowledge with youth, and protecting food security.

    Project Title: Deninu Kue First Nation GuardiansRecipient: Deninu Kue First NationFunding Amount: $333,055Project Description: This two-year initiative will monitor the land and waters. Guardians will patrol the territory to ensure it remains clean and will conduct water quality sampling and fish cleanliness monitoring.

    Project Title: Łı́ı́dlı̨́ı̨́ Kų́ę́ First Nation Guardians and Climate Change Monitoring ProjectRecipient: Łı́ı́dlı̨́ı̨́ Kų́ę́ First NationFunding Amount: $349,961Project Description: This two-year initiative aims to monitor the impacts of climate change on the environment in the Dehcho region of the Northwest Territories. The initiative will include monitoring a variety of indicators such as permafrost thaw, streambank subsidence/erosion, and species population shifts. Guardians will receive specialized training in monitoring erosion and permafrost conditions, observing thaw patterns, and assessing thaw depth. This data collection is essential to assess the evolution of the landscape.

    Project Title: Sahtu K’aowe Guardians Project for Tsá Tué Biosphere ReserveRecipient: Délįnę Got’įnę GovernmentFunding Amount: $350,000Project Description: This two-year initiative supports monitoring of Great Bear Lake and its watershed using the “Two-Eyed Seeing Approach” (uniting Western science and Indigenous knowledge) to ensure biodiversity conservation, ecological integrity, climate change adaptation, local wildlife subsistence, food security, and the continuity and revitalization of cultural practices.

    Ontario

    Project Title: Environmental Stewardship of Air Quality Issues for Aamjiwnaang First NationRecipient: Aamjiwnaang First NationFunding Amount: $48,732Project Description: This one-year initiative will monitor the air, water and lands surrounding Aamjiwnaang First Nation that have been impacted by industrial development. Guardians will identify environmental monitoring gaps (soil, water, air, fish, plants and endangered species), develop data collection plans, and improve emergency notifications and community responses to oil refineries, chemical plants and other industrial facilities located near Aamjiwnaang First Nation.

    Project Title: Temagami First Nation GuardiansRecipient: Temagami First NationFunding Amount: $451,000Project Description: This two-year initiative focuses on water quality, species and habitat protection, preserving Indigenous wisdom, data collection and monitoring. Guardians will participate in tracking, recording and reporting activities related to land use and environmental protection. Special attention will be paid to Lake Temagami, including monitoring ice fishing huts, houseboats, shorelines and more.

    Project Title: Atikameksheng Anishnawbek – Phase 2 – Monitoring the Atikameksheng Traditional TerritoryRecipient: Atikameksheng AnishnawbekFunding Amount: $347,263Project Description: This two-year initiative will collect maple sap during the sugar moon and harvest other food items, which will be distributed to Elders and the Nations Food Bank. Guardians will monitor the land, conduct field inspections for proposed logging operations to ensure that Grandmother Trees are protected, and complete daily field worksheets and site inspections that will provide important environmental information on spills, violations, and logging operations.

    Project Title: Anishinabek Traditional Ecological Guardians of Georgian BayRecipient: Magnetawan First NationFunding Amount: $500,000Project Description: This two-year initiative supports on-the-ground learning, knowledge transfer and technical skills training on species at risk, species monitoring, data collection and other land management activities using the “Two-Eyed Seeing Approach”. The initiative will also help build sustainable management capacity in other First Nations groups.

    Project Title: Charting the Path Ahead – Anishinaabe Aki Shkabewisag (Niiwin Wendaanimok Anishinaabe Guardians Network)Recipient: Niiwin Wendaanimok Limited PartnershipFunding Amount: $500,000Project Description: This two-year initiative will support four Anishinaabe Nations to mitigate and monitor development compliance on the land, increase their capacity to care for land, water, plants and animals, and collaborate to identify individual needs and create customized support and mentorship programs. Anishinaabe Guardians will identify and protect important areas through consultation with Elders and Knowledge Keepers.

    Project Title: Ketegaunseebee Aki GuardiansRecipient: Garden River First NationFunding Amount: $301,400Project Description: This two-year initiative will help Garden River First Nation monitor and protect the St. Mary’s River and lands in fulfillment of a treaty with neighbouring Indigenous nations. The initiative will focus on capacity building, community engagement and on-the-ground work, including species at risk, invasive species and logging monitoring patrols.

    Project Title: Four Rivers Regional Guardians NetworkRecipient: Matawa First Nations ManagementFunding Amount: $389,771Project Description: This two-year initiative focuses on environmental stewardship and capacity building in nine Matawa First Nations. The Four Rivers Regional Guardians Network will participate in virtual and in-person networking events to expand their knowledge and capacity, including cultural exchanges within the network.

    Project Title: Biinjitawaabik Zaaging Anishnaabek Community GuardiansRecipient: Biinjitiwaabik Zaaging Anishnaabek First Nation of Rocky BayFunding Amount: $350,000Project Description: This two-year initiative will implement sturgeon and mine site protocols, conduct environmental monitoring analyses, map the Lake Nipigon basin and compile the data into a geographic information system database.

    Project Title: The Height Of Land Wakohtowin Guardians Program – Treaty 9Recipient: Wahkohtowin Development General Partnership INC.Funding Amount: $499,300Project Description: This two-year initiative aims to strengthen traditional knowledge, practices and lifestyles within communities. Guardians will have first-hand experience in the functioning of ecosystem services and the economics of conservation.

    Project Title: Neya Waban Guardians Program – Guardians of the LandRecipient: Algonquins of Pikwakanagan First NationFunding Amount: $349,650Project Description: This two-year initiative will gather critical information for decision-making, identify areas of quality wildlife habitat, and develop management plans and protocols. The Algonquins of Pikwakanagan First Nation will continue to collect data based on Algonquin knowledge to better protect the land, water, animals and air of the eleven communities in Ontario and Quebec.

    Project Title: Mnisinoog (Warriors for the Bay): Shawanaga First Nation Guardians ProgramRecipient: Shawanaga First NationFunding Amount: $350,000Project Description: This two-year initiative focuses on enhancing aquatic life, using river monitors to maintain and protect the health of the river ecosystem. Aquatic stewardship is a priority, through catch surveys, large-scale monitoring of water bodies, and a detailed study of fish consumption.

    Project Title: Caldwell First Nation Land Guardians ProgramRecipient: Caldwell First NationFunding Amount: $345,840Project Description: This two-year initiative will focus on education, training, on-the-ground learning with technical experts and knowledge holders, and listening sessions with the community. The Guardians will review classroom environmental assessments on behalf of Caldwell First Nation, monitor and participate in environmental projects on the land, and implement multi-year capacity building initiatives, with a focus on supporting the creation, development and management of Indigenous protected and conserved areas on their traditional territory.

    Prince Edward Island

    Project Title: Lennox Island First Nation Guardians ProgramRecipient: Lennox Island First NationFunding Amount: $346,800Project Description: This two-year initiative will help better manage, protect and utilize the marine resources that the community relies on. It will allow the Lennox Island Watershed Conservation Group to participate in coastal erosion studies, fisheries workshops (lobster handling practices), a black ash reforestation project and the development of a modernized solid waste management plan.

    Project Title: Guardians of AbegweitRecipient: Abegweit First NationFunding Amount: $350,000Project Description: This two-year initiative embodies a cultural and traditional approach to natural resource management. The initiative also includes data collection and monitoring, with a focus on land, water and resource use on traditional territories, including cultural sites.

    Quebec

    Project Title: Guardians of the NdakinaRecipient: W8banakiFunding Amount: $500,000Project Description: This two-year initiative will support the sustainability of traditional practices of members of the Nation, protect their rights of access to ancestral territories and preserve cultural heritage. This initiative will create conservation spaces, share and transmit Indigenous knowledge, mentor youth, consult the community, promote food sovereignty and many other activities.

    Project Title: Moving Forward: Taking Pessamit’s Land Guardians to the Next LevelRecipient: Conseil des Innus de PessamitFunding Amount: $349,550Project Description: This two-year initiative involves a team of six territorial agents specializing in data collection, land monitoring, and comprehensive inventories of biodiversity and ecosystem processes. The initiative will focus on monitoring and assessments, conducting an inventory of cultural sites, developing sampling expertise, and community engagement and visibility.

    Project Title: Abitibiwinnik Land GuardiansRecipient: Abitibiwinni First NationFunding Amount: $195,931Project Description: This two-year initiative will continue to train community members in land monitoring and develop new skills and knowledge through fieldwork that uses both Indigenous knowledge and Western science. The initiative aims to document information gathered through the activities of guardians, community members and elders.

    Project Title: Chisasibi Intertidal Cumulative Impact Assessment: Integrating Science, Tradition and StewardshipRecipient: Chisasibi Cree NationFunding Amount: $348,468Project Description: This two-year initiative will focus on integrating western science, Indigenous knowledge and stewardship to address key challenges in the Chisasibi community. The initiative will study the impact of land use planning by reviewing existing research, mapping the community, analyzing vegetation and collecting environmental samples. In addition, it will build capacity through workshops and a mentoring initiative involving the Kinwhapmaakins (trapkeepers/managers). All data will be collected and combined into a detailed cumulative effects report.

    Project Title: Atikamekw Guardians of ManawanRecipient: Atikamekw Council of ManawanFunding Amount: $350,000Project Description: This two-year initiative will strengthen the role of Guardians in working with non-Indigenous land users and partners within the Nation and community. The next phase will focus on field activity, data collection, establishing a formal mandate recognized by the community, capacity building and training, and strengthening the role of Guardians within the community.

    Project Title: Kitigan Zibi Anishinabeg Nagadjitòdjig Guardians InitiativeRecipient: Kitigan Zibi Anishinabeg First NationFunding Amount: $594,020Project Description: This two-year initiative will monitor and inventory key cultural species, wild foods and trees. Guardians will conduct water quality studies, identify sites of cultural significance and record videos to document traditional practices and activities.

    Project Title: Protection and Participation in the Development of Pekuakamiulnuatsh Heritage on NitassinanRecipient: Pekuakamiulnuatsh TakuhikanFunding Amount: $49,995Project Description: This one-year initiative aims to ensure the protection and preservation of the territory, while maintaining the well-being of the members of the Nation community, as they carry out the traditional activities of their Nation. Guardians play a crucial role in supporting the Nation community, monitoring the lands and accompanying community members on Nation lands.

    Project Title: Essipiu Assinu Nakatuenitamu (He who takes care of the territory of Essipit)Recipient: Council of the Innu Essipit First NationFunding Amount: $246,308Project Description: This two-year initiative supports responsible governance and occupation of the Nation’s territory, land monitoring, participation in community events, and collaboration on various projects that encourage learning and skills development for guardians and community members.

    Project Title: Nutshimiunnuat d’ITUM (Guardians of the Nitassinan d’ITUM)Beneficiary: Innu Takuaikan Uashat mak Mani-UtenamFunding Amount: $350,000Project Description: This two-year initiative involves monitoring, protection and stewardship activities on the Nation’s traditional territory. Its objective is to ensure monitoring of the territory and protection of the Nation, as well as to contribute to studies and inventories on the impacts of climate change and industrial development on the territory.

    Project Title: Iakwatonhontsanónhnha – We all mind her, the EarthRecipient: Mohawk Council of Kahnawà:keFunding Amount: $256,416Project Description: This two-year initiative will develop a community environmental charter that will help define the roles and responsibilities of conservation officers. It will also provide an opportunity to consult on a “Rights of Nature” approach to protecting the St. Lawrence River.

    Saskatchewan

    Project Title: File Hills Qu’Appelle Guardians InitiativeRecipient: File Hills Qu’Appelle Tribal CouncilFunding Amount: $354,180Project Description: This two-year initiative will monitor and document stream health, including water quality, medicinal plants, and bank conditions, particularly on the lower Qu’Appelle River and its chain of lakes. It will also revitalize language and land stewardship practices.

    Project Title: Monitoring and Protection of Athabasca Denesųłiné Nuhenéné in SaskatchewanRecipient: Ya’thi Néné Lands and Resources OfficeFunding Amount: $498,916Project Description: This two-year initiative will monitor the lands and waters of Nuhenéné, including Indigenous protected areas, caribou hunting areas, and mining and prospecting activities. Guided by Elders, Ya’thi Néné Land and Resource Guardians are working to reconnect youth to the land and train future leaders in sustainable management practices.

    Project Title: Birch Narrows Dene Nation Nuh Nene Strategic PlanRecipient: Birch Narrows Dene NationFunding Amount: $49,917Project Description: This one-year initiative will monitor the land, combining ancestral wisdom and modern ecological approaches. Strategic partnerships with neighbouring First Nations and partners such as Tamarack Environmental Associates, Nexgen Energy Ltd. and Fission Uranium Corp. will amplify the impact of conservation efforts. Through training, mentoring and community engagement, the initiative will help the Nuh Nene Department achieve its goal of safeguarding cultural identity and the natural environment.

    Project Title: Pheasant Rump Nakota First Nation Community Guardians InitiativeRecipient: Pheasant Rump Nakota First NationFunding Amount: $350,000Project Description: This two-year initiative aims to build capacity by training and employing youth to collect and analyze data on climate change and industry impacts on the land. The data will be used to develop a land use plan to inform Chief and Council decision-making on stewardship and habitat management initiatives to ensure sustainable sources of traditional foods for the community.

    Project Title: Muskowekwan First Nation Community Guardians InitiativeRecipient: Muskowekwan First NationFunding Amount: $350,000Project Description: This two-year initiative aims to build the capacity of community members to monitor and understand the impacts of climate change. Youth will have the opportunity to receive training in Indigenous knowledge, Western science, climate and environmental monitoring practices including geographic information systems and remote sensing, participatory mapping and knowledge gathering.

    Yukon

    Project Title: Teechik Land Guardians: Nanh gwiinzii vik’ite’tri’giikhii/We read the land wellRecipient: Vuntut Gwitchin First NationFunding Amount: $349,333Project Description: This two-year initiative will operate a camera trap network to monitor predator-prey interactions on the Old Crow Winter Road and conduct baseline fish and water sampling at the headwaters of the Porcupine River. The Guardian Coordinator will be responsible for organizing patrols, analyzing monitoring data, and preparing communications materials for community members and leaders. This capacity building will strengthen monitoring efforts by enabling the initiative to process more samples, improve the use of camera data, and enable keepers to establish an annual trapping camp to extend monitoring to furbearers.

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

    MIL Translation OSI

  • MIL-OSI: Safeguard Against Credit Application Fraud with Bectran and Cobalt Integration

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Sept. 27, 2024 (GLOBE NEWSWIRE) — Bectran, Inc., the industry leader in credit, collections and accounts receivable management technology, has introduced a new collaboration with Cobalt Intelligence, a highly regarded data solutions firm specializing in secretary of state (SOS) data collection. Bectran’s new API integration with Cobalt provides users with a powerful anti-fraud and efficiency generating toolkit.

    “This collaboration is a realization of our goal to make fraud solutions easier to implement and provide impactful solutions for improving risk management,” comments Louis Ifeguni, Bectran CEO. “The integration will equip credit managers with real-time SOS data at the moment of application submission, resulting in tighter fraud security measures and faster credit approvals.”

    Credit Application Fraud Prevention 

    Fraud agents prey on out-of-date data, presenting a false face to credit departments with their intimate knowledge of the application process. Utilizing secretary of state real-time data, the risk of approving fraudulent credit applications can be severely curtailed. With direct integration into SOS websites, credit departments can be assured of their data integrity by using up-to-date and reliable records.

    Bectran’s automatic credit application system with real-time SOS website data pulls creates corporate verification reports seamlessly alongside application submissions. The SOS data will then be evaluated through Bectran’s scoring models to determine the authenticity of the application. To ensure data accuracy, a screenshot and link to the corresponding SOS document will be displayed immediately alongside the report. For further protection, a timestamp and watermark are attached to every screenshot, providing users with an audit trail for the verification process. The reports, links and screenshots will include all data and documents available on the corresponding SOS website. This varies by state but can include entity type, corporation status, articles of incorporation, SOS ID, corporate officer information, filing date and more. Credit applicants whose corporation status is found to be inactive or out-of-date can be automatically declined.

    Driving Credit Application Efficiency

    In addition to the benefits of fraud protection, automatic SOS verification brings unparalleled efficiency to the credit application process.

    This integration will lead to quicker credit application approvals, with verification done almost instantly. Manual verification processes are tedious in comparison, as they require significant time and effort from credit departments.

    For more information and to automate your credit applications, visit Bectran.com

    About Cobalt

    Cobalt Intelligence is at the forefront of real-time Secretary of State Data and AI automation. Our mission is to streamline the approval process, enhance compliance and drive ethical decision-making using a seamless API integration.

    We are committed to reducing fraud and operational costs and fostering ethical practices in alternative financing. Our real-time Secretary of State data verification and automated KYB compliance ensure precise business analysis and a comprehensive view across multiple states, empowering smarter underwriting decisions.

    About Bectran

    Bectran is the premier SaaS platform for Finance Departments, akin to CRM for Sales. Trusted by diverse organizations, from SMEs to Fortune 500 companies, we streamline credit processing by over 98%, reducing credit defaults and collection costs. Many businesses rely on Bectran for efficient Accounts Receivable and Collections management, achieving up to 95% cost savings. With rapid onboarding in days, our platform is hailed by credit professionals as the future of credit management. Visit Bectran.com to learn more about financial solutions for your industry.

    Aidan Starkes

    Content & Copywriter

    Bectran Inc

    (888) 791-6620

    PR@Bectran.com

    The MIL Network –

  • MIL-OSI Russia: Digest

    MILES AXLE Translation. Region: Russian Federation –

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

    Last week, a representative delegation of the rector’s office of the State University of Management made a working trip to the southern regions of Russia, visiting Rostov-on-Don and the Donetsk People’s Republic. Meanwhile, our experts turned their attention to the increase in pensions, fines for dangerous driving and car prices after October 1. Also, the curious reader is invited to read about emotional intelligence, cash flow gap, principles of the Scrum management methodology, methods of counteracting high inflation and find out in which countries of the world it is the lowest.

    — Director of the Institute of Economics and Finance of the State University of Management Galina Sorokina recalled the increase in pensions for Russians over 80 years old from October 1. “This form of social support for long-livers is important, since with age, more funds are needed for medicines and help with the household, especially since people over 80 in Russia make up about 3.6% of the total population,” the expert noted. — Also, from October 1, military pensions will be indexed, which Galina Sorokina also reminds about. She listed the categories of citizens who are considered military pensioners: former military personnel, persons who served in the Internal Affairs Directorate, the State Fire Service, the National Guard and other categories, including family members of deceased military personnel. — Galina Sorokina also told what the minimum wage will be in 2025. “The amount of the subsistence minimum depends on the region and the population group – the working-age population, children and pensioners. Regions can also set their own minimum wage, which, however, should not be lower than the Russian average,” explains the economist.

    — Associate Professor of the Department of Economic Policy and Economic Measurements of the Institute of Economics and Finance of the State University of Management Maxim Chirkov appreciated the initiative to pay Russian pensioners the 13th pension. “From my point of view, such an initiative is quite realistic. Although inflation remains quite high, it has begun to decline. Therefore, increasing the incomes of pensioners becomes a top priority, since they are often the most vulnerable part of Russian society,” the economist said. 
    — Maxim Chirkov also explained why in Russia they want to limit online installment payments. “If these restrictions are not in place, it turns out that the established institutions that are supposed to limit citizens’ risks, including credit risks, may turn out to be useless and the risks will increase,” the expert explained. 
    — Maxim Chirkov also outlined the relationship between inflation and public sector salaries. “The Russian economy is growing sharply in the areas of IT, finance, manufacturing, including manufacturing, and others. Under these conditions, civil servants may leave their jobs to take high-paying jobs. Therefore, it is necessary to raise salaries for public sector employees and compare them not with inflation, but with the growth of the average salary in the country,” explained Maxim Chirkov. 
    — In addition, Maxim Chirkov commented on Putin’s statement about working on the creation of a BRICS payment circuit. “The creation of such a system is a logical continuation of the move away from the dollar, financial systems and organizations that have centers in Western countries. Of course, an analogue of SWIFT will be created, that is, a system of interbank transfers, payment systems for individuals using plastic cards,” Chirkov said. 

    — Head of the Department of World Economy and International Economic Relations at the State University of Management Evgeny Smirnov made assumptions about the purposes of the proposed visit of IMF representatives to Russia. “Considering that the IMF is considered a “pro-Western” organization, the visit may also be connected with an attempt to obtain data on the net income Russia receives from participation in international trade by publishing statistics on the external sector,” the expert suspects.

    — Director of the Russian Center for Socio-Economic and Political Research of China at the State University of Management Fanis Sharipov commented on the Moscow BRICS Forum and Symposium on Public Administration. The expert noted that the BRICS association is committed to supporting sustainable development and mutually beneficial cooperation. “The West does not agree to give up its positions. But the world is entering a new era of global economic relations, where the role of the East and the South is growing,” said Fanis Sharipov.

    — Associate Professor of the Department of Institutional Economics of the State University of Management Svetlana Sazanova named the countries with the lowest inflation over the past year. These are China (-0.1%), Switzerland (1.6%), Saudi Arabia (2%), Spain (2.6%), and the Netherlands (3%). “Creeping inflation, within 10%, even has a stimulating effect on the economy, because producers, as a rule, perceive such price increases as increased demand for their products and, in response, increase their production,” the economist notes. — Svetlana Sazanova also explained the reasons for the growth of the Russian economy. In general, economic growth in Russia in 2024 cannot be considered to be caused only by defense orders and an increase in the money supply in the hands of the population. It is also caused by its structural restructuring: an increase in the share of the manufacturing industry and related industries,” the expert is convinced. — Svetlana Sazanova and Associate Professor of the Department of Institutional Economics of the State University of Management Konstantin Andrianov discussed what awaits the United States as a result of the growth of the national debt. “The issue of solving the national debt problem will be postponed until the next president. At the moment, the US debt is about 120% of GDP, which significantly limits the possibilities for stimulating the economy with the help of budget and tax policy,” noted Svetlana Sazanova. “Countries have begun to withdraw their foreign exchange reserves and gold from American depositories, which could lead to a collapse of the dollar exchange rate. The scale of this fall is difficult to predict, but it could be multiple,” said Konstantin Andrianov.

    — Associate Professor of the Department of Institutional Economics of the State University of Management and expert of the Central Bank of the Russian Federation Konstantin Andrianov discussed possible changes in exchange rates after the lifting of sanctions. “At the moment, it is impossible to predict the exact value of the dollar after the sanctions are lifted. We don’t even know when these sanctions will be lifted. Sanctions are in the hands of countries guided by anti-Russian policies, and their political elites are gripped by Russophobia,” the expert said. 
    — Konstantin Andrianov also named the reasons and methods of countering high inflation in Russia. “Since mid-summer, the exchange rate of our national currency has fallen by 7% against the dollar and euro, and by 8% against the yuan, although nothing negative has happened in the economy. This significantly affects the level of inflation; for stable prices we need a stable ruble,” the economist said. 
    — In addition, Konstantin Andrianov assessed the extension of sanctions against the Moscow Exchange. “If the ruble has successfully withstood the sanctions against the Moscow Exchange adopted in June of this year, then it is unlikely that anything else from the outside can become more or less a serious threat for it,” the expert is sure. 
    — Konstantin Andrianov and Deputy Director of the IFE GUM Valeria Ivanova also predicted changes in the euro exchange rate in the event of some countries leaving the EU. “A sharp collapse in the exchange rate is possible due to the loss of investor confidence in the euro as a stable currency. Also, a sharp collapse is possible, especially if the exit of these countries becomes a signal for others, which will lead to a chain reaction,” noted Valeria Ivanova. Konstantin Andrianov notes that the situation in the eurozone remains extremely unstable. Against the background of the refusal of Germany and other EU countries from Russian energy resources, macroeconomic problems began to intensify in many European countries, including France and Italy. 

    — Associate Professor of the Department of Transport Complex Management at the State University of Management Artem Merenkov warned about the increase in prices for cars from October 1. “There is a stock of cars at old prices. That is, this will definitely not be a momentary adjustment. Nevertheless, we can say that a price increase of 5-10% is possible before the end of the year,” the expert believes. — Artem Merenkov also assessed the State Duma’s decision to increase the fine for dangerous driving to 5,000 rubles from October 1. “Whether it will help or not is a matter of time and a combination of actions. Such measures work in a complex. If we look at the data from the State Traffic Safety Inspectorate, we will see that the number of accidents on the roads is decreasing, that is, systematic work definitely yields results,” the specialist said.

    — Professor of the Department of Accounting, Auditing and Taxation of the State University of Management Olga Ageeva told how to determine the profit and loss of a business. “The amount of net profit for the period indicates the same growth in the company’s net assets. In turn, net loss is associated with their decrease by the same amount. And as is known, net assets are what will remain to the owners in the event of liquidation of the enterprise,” the expert noted.

    — Associate Professor of the Department of Economic Policy and Economic Measurements of the State University of Management Natalia Kazantseva reported on the crisis in the area of family mortgages. “The funds allocated from the state budget to support family mortgages have almost been exhausted. Many banks have already stopped accepting orders for their registration, the remaining limits are not enough for its rapid development. This means that the real estate market will have to survive in the current market conditions, where the price of housing is determined by its laws,” the expert noted. — Natalia Kazantseva also spoke about what a cash gap is and how to avoid it. “Daily monitoring of cash balances at the beginning of the day, receipts and expenses will help to avoid a cash gap, this advice is especially relevant for small and medium-sized enterprises. It is important to use electronic document management and negotiate with suppliers, apply installment and deferment tools,” the economist advises.

    — Candidate of Psychological Sciences, Associate Professor of the State University of Management Svetlana Grishaeva commented on the State Duma initiative to ban childfree propaganda. “Childfree propaganda forms attitudes towards childlessness, the less such propaganda and such movements there are, the more likely it is that attitudes towards childlessness will decrease. Children and teenagers are easily influenced by something new, so movements like childfree have imitators and followers,” the psychologist said. — Svetlana Grishaeva also explained in detail what emotional intelligence is. “It is the ability to understand the emotions of other people and the ability to control your feelings. But to control is not the same as not to experience, so you should not think that a low-emotional person has a high level of EI, because emotions are our helpers in many situations,” the expert noted.

    — Senior lecturer of the HR department of the State University of Management Ekaterina Illarionova spoke about the principles of the Scrum management methodology. “The peculiarity of Scrum is that the team works on only one product. This is more expensive than the typical assignment of one specialist to several projects, but this is a story from the series about the stingy who pays twice,” the expert says.

    — Vladimir Popov, Associate Professor of the Department of Private Law at the State University of Management, commented on the new fine from the Ministry of Transport for carrying foreign objects while driving. The Associate Professor believes that this could create problems for drivers. “After all, if a driver eats or drinks while driving, he is also distracted, which increases the likelihood of an accident, but I do not propose banning such behavior yet,” the expert noted.

    — Doctor of Political Sciences, Professor of the State University of Management Viktor Titov discusses the possibilities of reconciliation between Iran and Israel. “Firstly, a very strong argument “for” a partial easing of the Iranian-Israeli confrontation is the fatigue of Israeli society: both from the war that began in October 2023 and from the long-term, virtually permanent confrontation with the Islamic world,” the expert believes.

    These are the topics covered by the experts of the State University of Management this week. Conclusions later, and now let’s run to the anniversary final of the State University of Management KVN League!

    Subscribe to the TG channel “Our GUU” Date of publication: 09/27/2024

    Ростов-на-Дону и Донецкую Народную Республику….” data-yashareImage=”https://guu.ru/wp-content/uploads/photo_2023-03-04_01-46-02.jpg” data-yashareLink=”https://guu.ru/%d0%b4%d0%b0%d0%b9%d0%b4%d0%b6%d0%b5%d1%81%d1%82-%d0%b3%d1%83%d1%83%d0%b3%d0%be%d0%b2%d0%be%d1%80%d0%b8%d1%82-%d0%b2-%d0%be%d0%b6%d0%b8%d0%b4%d0%b0%d0%bd%d0%b8%d0%b8-1-%d0%be%d0%ba%d1%82%d1%8f%d0%b1/”>

    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.

    Digest

    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 Economics: Best Direct Finance: BaFin investigates purported sale of shares in “OpenAI Inc.” and warns against identity theft

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The unknown perpetrators also operate the website bestdirect-finance.com. On this website, they advertise other services, e.g. in the areas of time deposits or overnight money, asset management, investment advice or securities trading. Until recently, the website included a legal notice. There, the operator referred to itself as a “Zurich branch (…) of the parent company, Best Direct Finance LTD, from the United Kingdom”. According to information available to BaFin, there is no such connection. This is a case of identity theft.

    In the past, there have been frequent reports of attempted fraud where shares in well-known companies are offered for subscription. However, these shares are not delivered to the clients after payment is made, and the offerors can no longer be reached; in some cases, the offered shares do not even exist.

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

    Background information:

    Unless an exemption from the prospectus requirement applies, securities may be offered to the public in Germany only if a prospectus approved by BaFin in advance has been published. During the approval process, BaFin checks whether the minimum information required by law is included in the prospectus and whether its content is understandable, coherent and consistent. However, BaFin does not check whether the information contained in the prospectus is correct. Moreover, it does not check whether the issuer is reliable nor does it examine the product in question.

    No securities prospectus relating to OpenAI shares has been submitted to BaFin for approval. You can check whether an approved prospectus for an offer of securities to the public has been filed with BaFin by consulting the Prospectuses filed database on the BaFin website.

    In addition, companies offering shares of other companies to consumers need prior authorisation from BaFin. The same applies for pre-IPO shares. Information on whether particular companies have been authorised by BaFin can be found in BaFin’s database of companies.

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

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

    MIL OSI Economics –

  • MIL-OSI Canada: Burlington manufacturer improves production of innovative technologies for the aerospace sector

    Source: Government of Canada News (2)

    News release

    Government of Canada investment supports Formula Solutions Inc. to commercialize its innovative jet engine component manufacturing process 

    September 27, 2024 – Burlington, Ontario

    With skilled talent, proximity to critical economic hubs and established industry and academic leaders, Burlington has emerged as a prominent hub for advanced manufacturing, specifically in the aerospace industry. The Government of Canada is committed to supporting our local manufacturing industries as they adopt new processes and develop made-in-Canada products to strengthen their position in global supply chains and create good jobs for Canadians.

    Today, on behalf of the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), Pam Damoff, Parliamentary Secretary to the Minister of Foreign Affairs (Consular Affairs) and Member of Parliament for Oakville North–Burlington, visited Formula Solutions Inc. (FSI), a globally recognized aerospace composite material manufacturer that is developing and building technologies for the aerospace sector.

    While there, PS Damoff met with employees and celebrated how FedDev Ontario’s $1.7-million investment helped the company accelerate the commercialization of its innovative jet engine component manufacturing process. As a result, FSI has been able to increase the production of quality, cost-effective, and environmentally friendly jet engine parts for high-volume commercial aircraft and continues to be an important global player in the aerospace industry supply chain.

    The Government of Canada is committed to supporting opportunities for all Canadians by providing the tools they need to scale up and seize new opportunities, contribute to opportunities in our most critical sectors, and grow our economy.

    Quotes

    “Manufacturing plays a critical role in southern Ontario’s economic growth. When we invest in a business’ potential, we invest in a strong future for our province and our country. Formula Solutions Inc. is producing cutting-edge, Canadian-made parts and products and is embracing next-generation innovations to meet the evolving needs of the aerospace industry. Our Government’s investments prioritize people and pave the way for our businesses to thrive.”
    – The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) 

    “Formula Solutions is an excellent example of the innovation that takes place here in the region. Through strategic investments, we are supporting businesses like Formula Solutions, growing and strengthening our aerospace industry, while also contributing to a more resilient future for our manufacturing sector.”
    – Pam Damoff, Parliamentary Secretary to the Minister of Foreign Affairs (Consular Affairs) and Member of Parliament for Oakville North–Burlington

    “We appreciate the exceptional support provided by FedDev Ontario to Formula Solutions Inc (FSI) to further advance our innovative aerospace manufacturing technology. The funding received through this program has helped to establish FSI as a world-class advanced composites supplier in the commercial aerospace sector and provide a platform for future growth and technological advancement. This will create additional direct and indirect STEM employment opportunities and help to strengthen Ontario’s status as a global aerospace manufacturing hub.”
    – James Peters, Chief Executive Officer and Chaiman, Formula Solutions Inc.

    Quick facts

    • Ontario’s aerospace manufacturers are well-regarded for their talent and play a key role in the global supply chain for many passenger aircraft. 

    • Ontario’s aerospace industry contains over 200 firms, employing more than 45,000 workers and is responsible for more than $6 billion in revenue.

    • Founded in 2018, Burlington-based Formula Solutions Inc. is a composite material manufacturer specializing in Carbon Fibre Reinforced Plastic aerospace components. 

    • Since 2015, the Government of Canada, through FedDev Ontario, has invested over $885 million in 415 manufacturing projects, supporting over 26,000 jobs.

    Associated links

    Contacts

    Edward Hutchinson
    Press Secretary
    Office of the Minister responsible for the Federal Economic Development Agency for Southern Ontario
    Edward.Hutchinson@feddevontario.gc.ca

    Media Relations
    FedDev Ontario
    media@feddevontario.gc.ca

    Stay Connected:

    FedDev-Ontario.Canada.ca

    Follow us X, Instagram, LinkedIn and Facebook.

    Subscribe to FedDev Ontario’s Southern Ontario Spotlight newsletter, featuring economic development news and updates from across the region.

    MIL OSI Canada News –

  • MIL-OSI Canada: More opportunities to stay and play in Ingonish

    Source: Government of Canada News (2)

    News release

    Support for four Cape Breton businesses enhances year-round visitor experience

    September 27, 2024 · Ingonish, Nova Scotia · Atlantic Canada Opportunities Agency (ACOA)

    Tourism plays a vital role in Atlantic Canada, driving local economies, creating jobs and strengthening communities. Tourism also helps preserve, promote and celebrate the region’s diverse cultural heritage – fostering awareness and understanding of the many peoples who call this place home. The Government of Canada is investing to help four tourism operators in Ingonish expand their winter offerings, extending the region’s tourism season. 

    Escape to winter in Cape Breton

    Today, Jaime Battiste, Parliamentary Secretary to the Minister of Crown-Indigenous Relations  and Member of Parliament for Sydney-Victoria announced a total investment of $1,262,165 to support growing tourism in Ingonish. The announcement was made on behalf of the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA.

    This investment will help Cape Smokey, the Cabot Snowmobile Club, Ingonish Harbour-View Chalets, and MacKinnon House ltd. improve recreation, and accommodation options in the region, making it an even more desireable destination for visitors and helping to boost the economy all year long. Please see the attached backgrounder for more information on the businesses and projects.

    Today’s announcement further demonstrates the Government of Canada’s commitment to supporting a diverse tourism industry in rural communities.

    Quotes

    “From breathtaking vistas, to vibrant culture, and the friendliest people, Ingonish is ready for you to explore all year long. And this magical region sees folks returning again and again to explore more and more. It’s World Tourism Day, so make sure you plan to discover all that this incredible community has to offer.”

    –      The Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA

    “Tourism is a powerful economic driver that supports job creation, local businesses and community growth. These projects will give visitors the fantastic outdoor experiences they seek, while filling demand for more high-quality, four-season accommodations in the area.”

    – Jaime Battiste, Parliamentary Secretary to the Minister of Crown-Indigenous Relations  and Member of Parliament for Sydney-Victoria

    “Victoria County Council has made trails development a strategic priority and we are excited to see this investment into a key piece of the Victoria County Trails development plan. This plan is working to connect communities and their businesses with the Highlands Trail system to improve access and user experience for all participants. Victoria County is proud to work with strong volunteer driven organizations like Cabot Snowmobile Club and recognize the unique skills and passion these clubs bring to trail development.”

    – Bruce J Morrison, Warden of Victoria County

    “This new infrastructure will significantly increase our snowmaking capabilities, allowing us to produce more snow, more quickly. This will provide visitors with the certainty they need to confidently book their winter holidays here, knowing they’ll be able to ski or snowboard. This will also help ensure that accommodations are fully booked and that restaurants in the area can operate smoothly. In other words, it’s the spark that ignites the fire for the entire winter season.”

    – Martin Kejval, CEO of Cape Smokey

    “The new trail officially connects Ingonish with the SANS Cape Breton Highlands Trail System. It establishes Ingonish as both a recreational launch point and destination for year-round tourism. The project will not only enhance the snowmobiler’s experience with more awesome groomed trails and a new destination but also promote other recreation such as cross-country skiing, snowshoeing, winter wilderness camping, ATV’ing, bird watching, hiking, mountain biking, and more. The assistance to this community project is greatly appreciated!”

    –      Gordon LeBlanc, Cabot Snowmobile Club Member

    “We are grateful to ACOA for supporting our small business with access to funding! Their support will allow us to realize a dream of being entrepreneurs and open luxury accommodations in our home town of Ingonish. We are excited to open, provide job opportunities, and help the community increase supply of four season accommodations.”

    –      Juanita Butler, Co-owner of Ingonish Harbour-View Chalets

    “I am very excited to see this development happening in this place of historical significance to myself and my family. Thanks to ACOA for helping to make this happen!”

    –      Perry MacKinnon, Owner of MacKinnon House Ltd.

    Quick facts

    Related products

    Contacts

    Connor Burton
    Press Secretary
    Office of the Minister of Rural Economic Development and of the
    Atlantic Canada Opportunities Agency
    Connor.Burton@acoa-apeca.gc.ca

    Lauren Sinclair
    Director of Communications
    Atlantic Canada Opportunities Agency
    Lauren.Sinclair@acoa-apeca.gc.ca
    782-641-6365

    Martin Kejval
    CEO
    Cape Smokey
    martin.kejval@capesmokeyholding.com
    902-294-0051

    Clifford AuCoin
    President
    Cabot Snowmobile Club of Cape Breton Island
    ftaucoin@hotmail.com
    902-563-6749 

    Juanita Butler
    Co-Owner
    4535562 Nova Scotia Limited
    juanitabarron@hotmail.com
    902-717-5906

    R Perry MacKinnon
    Owner
    MacKinnon House Ltd.
    pmackinnon3@gmail.com
    902-285-4261

    Stay connected

    Follow ACOA on Facebook, X, LinkedIn and Instagram.

    MIL OSI Canada News –

  • MIL-OSI China: Foreign investors upbeat on opportunities in China’s capital market

    Source: People’s Republic of China – State Council News

    BEIJING, Sept. 27 — As China maintains its steady economic growth momentum, more foreign institutional investors have quickened the pace of their investments in the Chinese capital market.

    In early September, M&G Investments, one of Europe’s leading asset managers headquartered in London, announced the launch of the M&G China Fund, aiming to provide investors with access to what it called “one of the world’s most compelling markets for long-term stock picking.”

    The M&G China Fund’s investment approach will center on a universe of circa 300 Chinese stocks, the company said in a statement posted on its website.

    “In our view, China’s stock market capitalization is currently disproportionately small compared to the size of its economy, with many stocks trading at compelling levels of valuation. At the same time, many Chinese companies are showing improving operational resilience during recent tough times and are increasingly focused on maximizing profits and boosting shareholder returns through both higher dividends and share buy-backs,” said David Perrett, manager of the M&G China Fund and co-head of the Asia Pacific equity investment team.

    “In addition to ongoing corporate self-help, many Chinese businesses are also leaders in globally growing areas such as renewable energy and digital supply chain-management,” said Perrett, who has spent more than three decades investing in China.

    M&G Investments is not alone in the effort to tap into the Chinese capital market. In late August, Krane Funds Advisors, or KraneShares, a U.S.-based asset management firm known for its global exchange-traded funds (ETFs), launched the KraneShares China Alpha Index (KCAI) ETF at the New York Stock Exchange.

    According to a statement released by KraneShares, KCAI’s index was developed by the firm’s sub-advisor Quant Insight to generate returns in China A-shares through an optimization filtering process combined with AI technology.

    China’s A-share market is a prime candidate for KraneShares’s strategy, the statement quoted Mahmood Noorani, CEO of Quant Insight, as saying.

    Like M&G Investments and KraneShares, foreign investors’ appetite for buying Chinese assets has been growing, underpinned by their strong confidence in the long-term fundamentals of the Chinese economy.

    So far this year, multiple international institutions, including the World Bank and the International Monetary Fund (IMF), have raised their forecast for China’s economic growth in 2024.

    The World Bank has raised its growth forecast to 4.8 percent, 0.3 percentage points higher than its previous forecast, while the IMF revised up China’s growth outlook to 5 percent, increasing by 0.4 percentage points from its previous forecast.

    Despite challenges at home and abroad, China’s economy grew by 5 percent in the first half of this year.

    At a meeting of the Political Bureau of the Communist Party of China Central Committee on Thursday, the leadership stressed effectively implementing existing policies, rolling out incremental policies and making policy measures more targeted and effective, and striving to accomplish the targets and tasks for this year’s economic and social development.

    The meeting, which analyzed China’s current economic situation and made further arrangements for economic work, also called for efforts to boost the capital market and vigorously guide medium and long-term funds to enter the capital market.

    Buoyed by the sound fundamentals of China’s economy, the number of U.S. dollar-denominated qualified foreign institutional investors, or QFII, has expanded to 841, with 43 foreign investors being granted QFII status this year, according to the latest data from the China Securities Regulatory Commission.

    The QFII scheme and its RMB-denominated sibling, RQFII, are designed to allow overseas investors to invest in China’s domestic capital markets.

    As the number of foreign investors has continued to grow, their holdings of Chinese bonds are also increasing.

    Foreign investors’ holdings of Chinese bonds in the interbank market increased to 4.5 trillion yuan (about 641.9 billion U.S. dollars) at the end of July, reaching a record high, according to data from the People’s Bank of China (PBOC), the country’s central bank.

    Industry insiders noted that foreign investors’ active buy-in of Chinese assets has been facilitated by the country’s continuous opening-up measures in the capital market over the years, and the encouraging institutional arrangements are still gaining steam.

    Since Aug. 26, the PBOC and the State Administration of Foreign Exchange have started to implement revised rules for the QFII and RQFII.

    With the aim to steadily expand the opening-up of the financial sector, key revisions include simplifying business registration procedures, and optimizing the management of accounts and cross-border fund flows.

    As Chinese authorities have repeatedly pledged to advance the opening-up in the capital market to a higher level, analysts said more overseas investors are expected to be attracted to invest in the market.

    MIL OSI China News –

  • MIL-OSI Africa: Africa Finance Corporation partners with Itana for the creation of Africa’s first digital economic zone

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

    NEW YORK, United States of America, September 27, 2024/APO Group/ —

    Itana (http://apo-opa.co/4dnuip1), Nigeria’s first licensed digital economic zone management company, and Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, have agreed to jointly develop the first digital economic zone in Africa designed for global and Pan-African technology, finance and service-based businesses to operate and scale with ease across Africa, unlocking the continent’s digital economy. The formalisation of this partnership took place yesterday in front of global government and business leaders, at the Global Africa Business Initiative (GABI), on the sidelines of the ongoing United Nations General Assembly (UNGA) in New York.

    The Itana Digital Economic Zone in Lagos, Nigeria is intended as an online jurisdiction and to serve as a gateway to build a global business in Nigeria. Through Itana, companies can remotely incorporate and operate their businesses in the Itana zone, with laws, business incentives (tax, immigration & banking), and services optimized for the digital economy. This will be coupled with eco-friendly live-work districts and a live-in accelerator program, showcasing the future of African cities and providing the ideal infrastructure and support for businesses in Africa to scale and compete globally.

    AFC will support Itana with project development funding and intends to lead in the financing of phase 1 of the Itana project which is budgeted at around $100m. This will include an eco-friendly tech campus in Lagos, Nigeria, and funding of startups in Accelerate Africa, the accelerator program of Itana in partnership with Future Africa. AFC will also support the roll-out of the Itana Digital Economic Zone for global and Pan-African tech, finance, and service-based businesses seeking to operate across Africa.

    Itana and AFC are already collaborating alongside Future Africa, PwC Nigeria, and Charter Cities Institute as technical advisers to the Initiative for the Promotion of Digital Free Zones in Nigeria (DiFZIN) (http://apo-opa.co/3BuB4Mm), a non-profit advocacy and policy research organization representing the private sector in the recently announced Nigerian Federal Government steering committee for the establishment of Digital Economic Zones in Nigeria. The committee is chaired by President Bola Tinubu and includes relevant Government Ministers and Agency Heads.

    Itana (http://apo-opa.co/47FY7jz) will be a conducive environment tailored to the 21st-century digital trade and technological age. The organization recently launched the Itana Application (http://apo-opa.co/4dnSUOB) where individuals can join the community and have access to events and services such as business visa facilitation, local bank accounts, and a curated marketplace of trusted vendors and consultants for doing business in Africa. Businesses that meet the criteria can register as a Free Zone Enterprise (FZE) with ease and will receive a Business Operating license that enables them to do business in Nigeria like numerous digital companies including Reliance Info and Future Africa.

    Post business incorporation, businesses can operate in the zone with tax and capital repatriation incentives, get access to the Itana business community, apply for business banking in the Digital Economic Zone, and special work and residency permits without limitations imposed by expatriate quotas.

    “Itana intends to be to Nigeria and Africa what Delaware & Silicon Valley is to the U.S., the DIFC is to Dubai, and e-Estonia is to the European Union,” said Luqman Edu, CEO of Itana. “Itana is poised as the gateway to doing business in Africa. Local and International businesses looking to expand their operations across Africa will naturally look to Itana as their point of entry”.

    “Africa’s digital economy is poised for significant expansion and innovation following the rapid adoption of mobile technology, a burgeoning youth population, and the growing importance of digital commerce and services,” said Samaila Zubairu, President & CEO, Africa Finance Corporation. “In support of this, AFC is proud to be a pioneer alongside Itana, in building Africa’s first digital economic zone. This unprecedented initiative marks a pivotal step towards creating a thriving hub for the African digital economy, cementing the Corporation’s commitment to driving innovation, job creation, and sustainable economic development across the continent,” he added.

    Last year, Itana announced (http://apo-opa.co/4eIELg1) a funding round backed by leading technology venture capitals and highly influential tech industry leaders including LocalGlobe, Amplo, Pronomos Capital (backed by Peter Thiel), Balaji, and Future Africa (led by Nigerian entrepreneur Iyinoluwa Aboyeji, co-founder of Andela and Flutterwave).

    As the first Digital Economic Zone, Itana remains committed to making Nigeria a powerhouse in the global digital economy. It will be hosted in Alaro City, an integrated, mixed-use city planned on over 2,000 hectares in the Lekki Free Zone.

    MIL OSI Africa –

  • MIL-OSI USA: Gross Domestic Product by State and Personal Income by State, 2nd Quarter 2024

    Source: US Bureau of Economic Analysis

    Real gross domestic product increased in 49 states and the District of Columbia in the second quarter of 2024, with the percent change ranging from 5.9 percent at an annual rate in Idaho to –1.1 percent in Alaska, according to statistics released today by the U.S. Bureau of Economic Analysis (table 1).

    Current-dollar gross domestic product (GDP) increased in all 50 states and the District of Columbia, with the percent change ranging from 8.0 percent at an annual rate in Idaho to 3.0 percent in Alaska (table 1).

    Personal income, in current dollars, increased in all 50 states and the District of Columbia, with the percent change ranging from 6.9 percent at an annual rate in South Carolina to 2.3 percent in North Dakota (table 3).

    Real GDP

    In the second quarter of 2024, real GDP for the nation grew at an annual rate of 3.0 percent. Real GDP increased in 16 of the 23 industry groups for which BEA prepares quarterly state estimates (table 2). Nondurable-goods manufacturing, finance and insurance, and health care and social assistance were the leading contributors to growth in real GDP nationally (table 2).

    • Agriculture, forestry, fishing, and hunting, which increased in 29 states, was the leading contributor to growth in 11 states including Idaho, Kansas, and Nebraska, the states with the fastest increases in real GDP. In contrast, this industry was the leading offset to growth in 10 states including North Dakota, the slowest growing state.
    • Nondurable-goods manufacturing, which increased in all 50 states and the District of Columbia, was the leading contributor to growth in 12 states including Utah, the state with the fourth-fastest increase in real GDP.
    • Mining, which declined in 33 states, was the leading contributor to the decrease in real GDP in Alaska, the only state with a decline in real GDP.

    Personal income

    In the second quarter of 2024, current-dollar personal income increased $315.6 billion, or 5.3 percent at an annual rate (table 3). Nationally, earnings, transfer receipts, and property income (dividends, interest, and rent) all contributed to the increase in personal income (chart 1).

    Earnings increased in all 50 states and the District of Columbia, while growing 6.3 percent nationally. The percent change in earnings ranged from 8.3 percent in Idaho to 2.1 percent in North Dakota. Earnings increased in 22 of the 24 industries for which BEA prepares quarterly estimates and was the largest contributor to growth in personal income in all 50 states and the District of Columbia (tables 4 and 5).

    • In South Carolina, the state with the fastest growth in personal income, durable-goods manufacturing was the leading contributor to the increase in earnings.
    • In Utah, the state with the second-fastest growth in personal income, professional, scientific, and technical services was the leading contributor to the increase in earnings.
    • In Nebraska, the state with the third-fastest growth in personal income, farm earnings was the leading contributor to the increase. In contrast, farm earnings was the leading contributor to the decline in earnings in North Dakota, the state with the slowest growth in personal income.

    Transfer receipts increased in 49 states and the District of Columbia, while growing 6.1 percent nationally. The percent change in transfer receipts ranged from 14.9 percent in California to –0.5 percent in Massachusetts (table 4).

    • The increase in transfer receipts in California was due in part to an increase in Medicaid benefits, which increased 47.8 percent due to program expansion.

    Property income increased in all 50 states and the District of Columbia, while growing 1.5 percent nationally. The percent change ranged from 2.4 percent in Wyoming to 1.0 percent in Nebraska and Mississippi (table 4).

    Update of state statistics

    The estimates for the second quarter of 2024 incorporate the results of BEA’s annual updates of GDP and personal income by state that are also being released today. The annual estimates of GDP and personal income by state from 2019 to 2023 and quarterly estimates of GDP and personal income by state from the first quarter of 2019 through the first quarter of 2024 were revised. This update incorporates new and revised source data that are more complete and more detailed than previously available, updates to seasonal factors, and aligns the states with the annual update of the National Income and Product Accounts and the GDP by industry statistics released on September 26, 2024. Our online journal, the Survey of Current Business, will publish an article in November describing the results.

    BEA released new estimates of per capita personal income for the second quarter of 2024, along with revised estimates for the first quarter of 2019 through the first quarter of 2024. BEA used U.S. Census Bureau population figures to calculate per capita personal income estimates for the first quarter of 2020 through the second quarter of 2024. For earlier estimates, BEA continues to use intercensal population statistics that it developed based on Census Bureau methodology. See “Note on Per Capita Personal Income and Population.”

    Starting in September 2025, BEA will begin to regularly publish quarterly GDP and personal income by state along with annual personal consumption expenditures by state together in a single news release, providing a fuller picture of the economies of all states and the District of Columbia. The combined news release will replace the publication of two separate releases issued on different days.

    *          *          *

    Next release: December 20, 2024, at 10:00 a.m. EST
    Gross Domestic Product by State and Personal Income by State, 3rd Quarter 2024

    MIL OSI USA News –

  • MIL-OSI Europe: Climate COP Troïka “Roadmap to Mission 1.5: Driving the next generation of climate action and ambition” – Address by Minister Jean-Noël Barrot, minister for Europe and Foreign Affairs (26.09.24)

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

    Ministers,

    Executive Secretary of the United Nations Framework Convention on Climate Change,

    Ambassadors,

    Colleagues,

    This year, we were convened for a Summit of the Future. Actually, what we are talking about is a threat of the present time: climate change kills, climate change impoverishes and climate change destroys.

    I would like to thank the Climate COP Presidencies Troika for convening us today to make progress in the fight against this scourge.

    We owe it to all our populations, all of our fellow citizens, to be effective. Therefore, we need to set a clear course. The 1.5°C goal is our compass. That is a demanding goal but not one that is totally beyond our reach. If we hope to achieve it, we must take action immediately. And to prepare, at the latest by the Belem COP, enhanced nationally determined contributions that are commensurate with the issue. We need to implement the Paris Agreement.

    Significant strides were made at COP28 when it was jointly decided to phase out fossil fuels. That was vital but it is also vital to actually make this transition in concrete terms.

    France and its European partners are working with determination, which involves a considerable effort to deploy low-carbon and low-emission energy technologies. France has committed to phase out coal by 2030, oil by 2045 and gas by 2050. We call on all Parties to set out and comply with timelines to phase out fossil energy sources. The G7 has started to do this with the phasing out of coal. It needs to do more and other big emitters should follow suit.

    At COP29, an ambitious new climate finance goal needs to be adopted to support developing countries.

    France has fully contributed to the current collective USD 100 billion goal, providing a record €7.6 billion of climate finance in 2022, including €2.6 billion dedicated to adaptation, and €7.1 billion in 2023. Every time we have contributed high and above commitments taken nationally, surpassing goals.

    Now that we have collectively achieved the USD 100 billion goal, it is time for a financing boost. That is what French President Emmanuel Macron proposed in Paris in June 2023 with the Paris Pact for Peoples and the Planet. All the finance sources – public, private and innovative instruments – need to be mobilized.

    The ambitious road map set out in the Paris Pact for Peoples and the Planet has produced tangible progress for the climate. I am thinking of the climate-resilient debt clauses implemented by the World Bank and its peers, as well as the international taxation task force launched at COP28 that Brazil has joined today.

    COP30 in Belem is crucial and we must now begin preparing for it with determination. I call on all Parties to publish nationally determined contributions that reflect the decisions made at COP28. They should be ambitious, cover all economic sectors and all greenhouse gases, be science-based and rooted in a timeline to phase out of fossil fuels.

    EU Member States are currently working on defining our 2040 climate target based on a European Commission proposal of a 90% cut in emissions. The EU will continue to show the highest possible ambition to deliver on our commitment to carbon neutrality by 2050.

    France stands with Brazil to make COP30 the COP of ambition. All our diplomatic firepower will be focused on this goal, alongside all our partners and the United Nations.

    And I am pleased to announce that we will host a high-level event in early 2025 to commemorate the 10-year anniversary of the Paris Agreement. There is only one way forward and that is to scale up the level of ambition on a par with the legitimate expectations of our populations. Let us not get distracted.

    Thank you.

    MIL OSI Europe News –