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Category: Entertainment

  • MIL-OSI Europe: Written question – Non-conformity of feed used in the production of ‘Prosciutto di Parma’ PDO – E-000204/2025

    Source: European Parliament

    Question for written answer  E-000204/2025
    to the Commission
    Rule 144
    Cristina Guarda (Verts/ALE), Benedetta Scuderi (Verts/ALE)

    Article 47(2) of Regulation (EU) 2024/1143 on geographical indications provides that the amount of feed not originating in the demarcated geographical area may not exceed 50 % of dry matter each year. The product specification for ‘Prosciutto di Parma’ (Parma ham) has recently been amended to ensure compliance with this requirement regarding the origin of feed.

    A recent television investigation[1] carried out by RAI – Italian Radio Television – into Parma ham revealed a failure to comply with Article 47(2) of Regulation (EU) 2024/1143, highlighting in particular the clear failure to verify the origin of the feed for pigs intended for the production of such ham.

    In view of the above, can the Commission answer the following questions:

    • 1.Is the Commission aware of this situation and the infringement of EU law?
    • 2.Does it consider it appropriate to take action and request an intervention by the Italian Ministry of Agriculture, Food Sovereignty and Forestry to put an end to this situation that is detrimental to the consumer and to the system of certification of geographical indications?
    • 3.What is its assessment of hams from pigs reared on feed of unverified origin and their placing on the market following the entry into force of the new specification?

    Submitted: 17.1.2025

    • [1] Minuto 31 https://www.rai.it/programmi/report/inchieste/Il-virus-e-il-nemico-in-casa-bf8df870-3e2b-40f7-a0e0-f66979e908a4.html.
    Last updated: 28 January 2025

    MIL OSI Europe News –

  • MIL-OSI Europe: Netherlands: Royal Schiphol Group enters into a loan agreement with the EIB for infrastructure investments

    Source: European Investment Bank

    Royal Schiphol Group and the European Investment Bank (EIB) have entered into a loan agreement to the value of EUR 175 million. This represents the first installment of a total financing of EUR 400 million. The loan contributes to the financial stability of Schiphol and is an important milestone in the realisation of the major EUR 6 million investment programme.

    CFO Robert Carsouw: ’The largest investment programme in the airport’s history asks for robust finances and healthy cashflows. Additional financial resources are necessary in order to realise the infrastructure investments. We are very pleased with the support of the EIB and look forward to continuing our longstanding relationship. This loan contributes to ensuring our financial foundation.’

    EIB Vice-President Robert de Groot added: ‘Our relationship with Schiphol goes back more than two decades, and we are committed to supporting them in these efficiency improvements, to the benefit of both staff and travelers. The EIB finances projects that matter to people, and align with the strategic priorities of the EU, this is a great example of both.’

    New baggage basement

    This loan will be used primarily for the construction of a new baggage basement. The new baggage basement will provide the necessary capacity to replace and upgrade the existing baggage system, which will improve working conditions for baggage handlers. The preparations for construction started recently.

    Investment portfolio: EUR 6 billion in 5 years

    Schiphol is investing EUR 6 billion over the next 5 years in the improvement of airport facilities including the maintenance and renovation of aviation infrastructure, renovation of passenger and employee facilities and implementation of innovative improvements to working conditions. Read more here.

    Ongoing EIB support

    Apart from previous financing for Schiphol’s infrastructure projects, in 2023, the EIB supported the airport’s electrification of airside equipment, which helped to lower emissions in line with Schiphol’s sustainability targets. With the planned investments related to this new loan, Schiphol will enhance its operational capabilities and contribute to the critical civilian infrastructure. The loan therefore falls under the EIB’s Strategic European Security Initiative (SESI).

    MIL OSI Europe News –

  • MIL-OSI USA: More Than $100M Awarded to Pro-Housing Communities

    Source: US State of New York

    January 28, 2025

    Albany, NY

    Governor Kathy Hochul today announced new investments of more than $100 million for projects located in certified Pro-Housing Communities, part of a total $123 million allocated as part of the latest round of the State’s Regional Economic Development Council initiative. Governor Hochul’s Pro-Housing Communities initiative allocates up to $650 million each year in discretionary funds for communities that pledge to modestly increase their housing supply; to date, 273 communities across New York have been certified as Pro-Housing Communities. This year, Governor Hochul is proposing an additional $110 million in funding to cover infrastructure and planning costs for Pro-Housing Communities.

    “There’s only one solution to New York’s housing affordability crisis: we’ve got to build more housing,” Governor Hochul said. “The Pro-Housing Communities initiative is delivering the incentives communities are looking for, and this latest round of grant funding will make a real difference in every region of New York. We’re proud of all the certified Pro-Housing Communities in New York and look forward to seeing their continued growth.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “The Round XIV awards demonstrate how local priorities align with the state’s economic development goals – especially in our Pro-Housing Communities. The overwhelming response to the new Capital Improvement Grants program reflects how municipalities are eager to strengthen their foundations while addressing critical housing needs. Under Governor Hochul’s leadership, we continue to create new and dynamic opportunities to create jobs and generate sustainable and equitable growth throughout New York State.”

    New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Governor Hochul has been clear – municipalities who share our vision for smart housing growth will be rewarded. Through these $100 million awards announced today, Pro-Housing Communities will receive a financial boost to their efforts to upgrade infrastructure, strengthen their economies, and embark on projects that improve the quality-of-life for New Yorkers. We thank the Governor for her continued leadership and applaud our partners at the local level who are working diligently in every region of the state to find solutions to the housing shortage.”

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    Regional Economic Development Council Round XIV

    Round XIV of the Regional Council initiative further advanced Governor Hochul’s housing agenda by including a new program featuring funding earmarked for projects located in Pro-Housing Communities, as certified by Homes and Community Renewal (HCR). The Capital Improvement Grants for Pro-Housing Communities Program, administered by Empire State Development (ESD), made up to $40 million available to municipalities, counties and not-for-profits to support capital improvement and placemaking projects within Pro-Housing Communities. Due to an overwhelming response in applications and high demand, more than $55 million is being awarded to support these projects, reflecting the strong pro-housing commitment of the State’s municipalities.

    Three other programs in Round XIV were included in the Pro-Housing Community designation: ESD’s Grants and Market New York programs, and HCR’s New York Main Street program. Additionally, more than $9 million in Excelsior Jobs Program tax credits have been awarded to support the job creation and investment goals in projects located throughout the State. In the coming weeks, more than $250 million will be awarded to Pro-Housing Communities from the Downtown Revitalization Initiative, New York Forward and Mid-Hudson Momentum Programs.

    Select projects in Pro-Housing Communities from Round XIV include:

    • Capital Region – Schenectady Community Action Program – SCAP Campus: In partnership with DePaul Properties, Inc., SCAP will construct a building to house a new child care center, program space and administrative offices for its wide array of family support services, including employment services, supportive housing services and individual and family crisis intervention. The new site is in a New York State-designated child care desert and will provide new classrooms for comprehensive child care slots. The building is expected to be part of a larger mixed-use redevelopment that will create a one-of-a-kind campus in the City of Schenectady where housing, child care and family support services are co-located. ESD Grant – $4.975 million; Total Project Cost – $12.4 million.
    • Central New York – SEED Syracuse, Inc. – Chimes Building: The not-for-profit group will redevelop the Chimes Building into a mixed-use, mixed-income building. The project will create several residential units available to a mix of incomes and includes commercial space to house telecommunications tenants that serve as a fiber optic hub, providing internet access for roughly half of the City of Syracuse, including hospitals, fire departments, local businesses and residential users. ESD Grant – $1.25 million; Total Project Cost – $40.7 million.
    • Finger Lakes – Rochester Housing Authority – Fernwood Avenue Library & Mixed-Use Development: The project includes building a new branch of the Rochester Public Library System within a four-story, 80,000 square foot mixed-use building that includes affordable housing. The site will include 65 housing units with space for the new library to also provide support services, computer training and workforce development. Community Action Agencies will help coordinate and administer an integrated system of support services, creating new opportunities for success through targeted education and training efforts. The new building will be located on a Brownfield site. Capital Improvement for Pro-Housing Communities – $775,000; Total Project Cost – $4 million.
    • Long Island – Town of Riverhead – Downtown Riverfront Amphitheater: The Town will create a riverfront amphitheater and public park. Due to their location below the flood plain and increasing flood risks from climate change, the buildings will be relocated to the northern end of the property and elevated on new foundations. The southern end, with a 13-foot slope, will be converted into tiered seating with a stage and bandshell near the Peconic River. This design leverages the natural slope to protect the buildings while creating a flood barrier. The amphitheater will double as a public park, hosting activities like exercise classes, movie nights and children’s events. Capital Improvement Grant for Pro-Housing Communities – $1.4 million; Total Project Cost – $2.8 million.
    • Mid-Hudson – Habitat for Humanity of Dutchess County, Inc. – Taylor Ave. Development: Working in partnership with the City of Poughkeepsie, HFHDC will undertake the site preparation and construction of a mixed-use development that includes a child care center and housing units, with a portion of the units dedicated to senior and workforce housing. The project involves comprehensive site planning, modular townhouse designs, and the integration of necessary infrastructure such as roads, utilities and green spaces. ESD Grant – $1.6 million; Total Project Cost – $14.5 million.
    • Mohawk Valley – Municipal Housing Authority of the City of Utica (People First) – THRIVE Cornhill: This project will integrate two mixed-use buildings in the Cornhill section of Utica, offering two Community Impact Centers and several mixed-income apartments. The Impact Centers will support community-focused programs including a multipurpose gym, urban grocery, coworking space, test kitchen, entrepreneurial incubator, dance, art space and a courtyard. Capital Improvements for Pro-Housing Communities – $3 million; Total Project Cost – $17.6 million.
    • New York City – Brooklyn Navy Yard Development Corporation – Center for Planetary Health: The Center will establish a cutting-edge biotech innovation hub at Newlab in the Brooklyn Navy Yard. C4PH is purpose-built to accelerate the commercialization of non-therapeutic life sciences that can be applied to address climate change. The Center will be able to support over 30 companies, focusing on sectors like agriculture, textiles and building materials. ESD Grant – $1.6 million; Total Project Cost – $8 million.
    • North Country – Village of Massena – Raw Water Capital Project: The Village will construct a secondary raw water transmission line from the Massena Intake Dam to the water treatment plant. The new line will provide redundancy in the case of an emergency or routine maintenance, should the older main line fail. It will provide critical water service to residential, commercial, and industrial users in the Village and Town of Massena, plus Norfolk and Louisville. The line will also include new taps for the extension of raw water service to the proposed Air Products Green Hydrogen Facility. Capital Improvement Grant for Pro-Housing Communities – $2.34 million; Total Project Cost – $4.69 million.
    • Southern Tier – Village of Dryden – Water and Sewer Infrastructure Improvements: The Village will upgrade its water and sewer infrastructure as the first phase in having several hundred workforce apartments being built as Ezra Village in Tompkins County. The water improvements include extending water mains, and the sewer infrastructure upgrades include replacing several thousand feet of pipeline. Capital Improvements for Pro-Housing Communities – $1.82 million; Total Project Cost – $3.64 million.
    • Western New York – Jewish Community Center of Greater Buffalo, Inc. – Workforce Child Care Initiative: The project includes the construction of a two-story child care center on the Buffalo Niagara Medical Campus that will provide much needed service and provide specialized space for children with special needs. Partnerships within the campus like BestSelf Behavior Health and Buffalo Hearing and Speech will enable the new center to offer specialized resources and services to children in need, and a space to host these services for parents and their children. ESD Grant – $3 million; Total Project Cost – $8.2 million.

    More information on the projects awarded through the 2024 Regional Economic Development Council initiative, including a full list of awardees, is available here.

    There’s only one solution to New York’s housing affordability crisis: we’ve got to build more housing.”

    Governor Hochul

    Governor Hochul’s Housing Agenda

    Today, Governor Hochul announced that 273 municipalities have been certified as Pro-Housing Communities. The Governor is committed to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers.

    As part of her 2025 State of the State, Governor Hochul proposed a bold plan to make owning and renting a home more affordable. The Governor proposed bolstering the Pro-Housing Community Program by investing $100 million to support critical housing infrastructure projects and providing $10.5 million technical assistance grants to help communities adopt pro-housing policies. The Governor also proposed creating the State’s first revolving loan fund to spur mixed-income rental development outside of New York City, as well as legislation to address rent-price fixing collusion by landlords, increase the effectiveness of State tax credits that support affordable housing development, and extending security deposit protections that market rate tenants currently have to rent-regulated tenants.

    Additionally, Governor Hochul proposed new steps to make homeownership more accessible and affordable to all New Yorkers, including funding for starter home development and first-time homebuyer downpayment assistance, and disincentivizing private equity firms from buying single-family and two-family homes across the State. The State of the State also proposes increased support for supportive housing that serves some of the most vulnerable New Yorkers.

    As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York’s housing supply through new tax incentives for Upstate communities, new incentives and relief from certain State-imposed restrictions to create more housing in New York City, a $500 million capital fund to build up to 15,000 new homes on State-owned property, an additional $600 million in funding to support a variety of housing developments statewide and new protections for renters and homeowners.

    In addition, as part of the FY23 Enacted Budget, the Governor announced a five-year, $25 billion Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. More than 55,000 homes have been created or preserved to date.

    Embedded Flickr Album

    State Senator Brian Kavanagh said, “Addressing our statewide housing shortage requires that we use all the tools we have. Today’s announcement by Governor Kathy Hochul underscores our collective commitment to fostering vibrant, sustainable communities, while incentivizing localities to be open to producing more housing. I am proud to support the State budget that makes these funds available and I commend the Governor, Housing Commissioner RuthAnne Visnauskas, and their colleagues in the administration for effectively implementing and growing the Pro-Housing initiative.”

    State Senator Sean Ryan said, “New York’s housing affordability crisis is a problem we can solve, but it’s going to require creative ideas and consistent support for a wide range of programs to deal with this problem’s many causes. I thank Governor Hochul for her commitment to meeting this challenge, and I look forward to continuing to work together to implement solutions that address the unique problems facing Upstate communities.”

    Assemblymember Linda B. Rosenthal said, “Communities in every region of the state need to step up to the plate to build a more affordable New York. With the latest round of funding awarded by the Regional Economic Development Council, public housing authorities and non-profit organizations will be able to create much-needed affordable housing for those who are struggling to stay financially afloat in the Empire State. As we look toward the start of another budget season, I am once again committed to fighting for every available cent to build and preserve our state’s affordable housing stock. I applaud the Governor’s tenacity in addressing the housing crisis and her continued partnership on this critical issue.”

    Assemblymember Al Stirpe said, “Today’s announcement of ESD Round XIV grants truly benefits the Pro-Housing Communities as well as addresses critical needs throughout the state. Here in Central New York, SEED Syracuse, Inc. received funding for their project creating mixed income housing and commercial space in the City of Syracuse by redeveloping an iconic 1929 office building. Funding local projects in Pro-Housing Communities strengthens the fundamental economic base in these municipalities. Whether it is supporting child care, water infrastructure, innovative technologies, or libraries, all contribute to enhancing the daily lives of New Yorkers and the health of their neighborhoods and the region. Governor Hochul has taken the lead to address the state’s housing needs while, at the same time, reinforcing job creation and a spectrum of economic development opportunities.”

    Assemblymember Angelo Santabarbara said, “This initiative is about more than housing—it’s about creating opportunity and building a foundation for families to thrive. Growing up in the City of Schenectady, I saw how challenging it was for families like mine to get by without the resources we’re now able to provide. Investments like these in affordable housing, child care, and support services give families the tools they need to build a brighter future. I’m grateful for the collaboration and shared vision that made this possible, and I look forward to seeing how these projects transform our communities for generations to come.”

    MIL OSI USA News –

  • MIL-OSI Global: Armenia and Azerbaijan are at loggerheads again – here’s why tensions are rising

    Source: The Conversation – UK – By Svante Lundgren, Researcher, Lund University

    Azerbaijan’s president, Ilham Aliyev, has launched a fierce verbal attack on Armenia, which he has called a fascist state. “Fascism must be destroyed,” he said in an interview on local TV networks on January 7. “Either the Armenian leadership will destroy it, or we will.”

    This rhetoric is strongly reminiscent of baseless claims used by Vladimir Putin about Ukraine to justify Russia’s invasion. He has claimed that Ukraine must be “denazified”.

    There are also reports that Azerbaijan’s acquisition of advanced Israeli weapons have increased recently, according to Israeli journalist Avi Sharf, national security, cyber and open source intelligence editor at Israeli news outlet Haaretz.

    Armenia and Azerbaijan have a long history of conflict over Nagorno-Karabakh, a region within Azerbaijan until recently mainly populated by Armenians. The first war between them in the 1990s led to the establishment of a self-proclaimed Armenian republic, which no country recognised.

    Then, after a 44-day war in 2020, Azerbaijan took control over most of the enclave. The rest was conquered in September 2023, prompting Armenians living there (more than 100,000 people) to flee to Armenia.

    In the last few months Aliyev accused Armenia of preparing a “war of revenge”. Since its devastating defeat in the second Karabakh war in 2020, Armenia has taken steps to strengthen its defences. Among other things, it has made significant arms purchases from France. This has also provoked Aliyev to criticise France and its president, Emmanuel Macron.

    But, although Armenia has been trying to reduce Azerbaijan’s military advantage through reforms in the army and arms purchases, the country is still militarily inferior to its neighbour. Any military confrontation is likely to result in an early defeat for Armenia.



    Read more:
    Future of Russian gas looking bleak as Ukraine turns off taps and Europe eyes ending all imports

    The argument from Azerbaijan is clearly that if there is conflict in the region, it will be part of an Armenian “preparation for a war”. Baku suggests that therefore the responsibility for any conflict would lie with Armenia and those who arm the country (in particular, France). It’s possible that this rhetoric is intended to legitimise some kind of military action.

    Because of escalating tension in the past few years, Armenia invited the European Union to monitor the border between the countries. This was to help address Azerbaijani accusations that Armenia was preparing for war, and to monitor, and prevent, shootings along the border.


    Peter Hermes Furian/Shutterstock

    Over the past two years Azerbaijan has denied these unarmed EU observers permission to operate on its territory, so they were only able to work from the Armenian side. It has also strongly condemned the EU for this mission.

    The EU monitors have been in place since February 2023, and should be due to withdraw next month. Armenia has suggested the EU monitors continue but Baku has made clear it wants them removed.

    So, why might Azerbaijan want to reignite tensions with Armenia? One point of contention between them is access to the “Zangezur corridor”, a land connection between Azerbaijan and its autonomous republic, Nakhichevan,.

    Long-running regional conflict

    Azerbaijan has long demanded access to, and control of, this route. The natural corridor runs through Armenia’s Syunik region (in Azerbaijani “Zangezur”, hence the Zangezur corridor). Armenia has declared its willingness to open up transport connections throughout the region – including between Azerbaijan and Nakhichevan – but opposes a corridor through its territory that it does not control.

    The south Caucasus (the region including Georgia, Armenia and Azerbaijan) has long been an area that Putin sees as part of his sphere of influence. After the break-up of the Soviet Union, Russia tried to keep the region relatively calm, but in 2020 Putin allowed the war to continue until Armenia was defeated, before putting pressure on Aliyev to stop. Three years later, Azerbaijan took what was left of Nagorno-Karabakh while Russian peacekeepers looked on.

    Armenian concern over what it sees as Russian bias towards Azerbaijan has led Yerevan to increasingly turn towards the west. On January 14 2025, a “strategic partnership charter” was signed between Armenia and the US, which includes an economic and defence partnership, but whether the new Trump administration will want to build on, or even ignore, that relationship is not yet clear.

    In what is considered an important symbolic move Armenia is also currently negotiating with Russia over the removal of its Federal Security Service (FSB security service) guards along the Armenian border in an attempt to reduce reliance on Moscow for its security. Armenian prime minister Nikol Pashinyan said in 2024 that the nation would pull out of the Russian-led Collective Security Treaty Organization in another move that signals Armenia’s increasingly fragile relationship with Moscow.

    Will there be a war?

    The EU has meanwhile strengthened relations with Armenia.

    While Azerbaijan may have escaped international fallout over the attack on Nagorno-Karabakh in the autumn of 2020, and over the ethnic cleansing of the enclave’s Armenian population in 2023. But if a new war led to a large-scale attack on Armenia it would unlikely to be ignored by the west.

    Despite the west’s minimal reactions to Azerbaijani incursions across the Armenian border in May 2021 and September 2022, in 2025 there is more international focus on the region and on the potential consequences of ignoring what’s going on around Russia’s borders.

    Although military intervention from the west is unlikely, the possibility of sanctions against Azerbaijan could be enough of an incentive for Aliyev to try to maintain the peace.

    Svante Lundgren 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. Armenia and Azerbaijan are at loggerheads again – here’s why tensions are rising – https://theconversation.com/armenia-and-azerbaijan-are-at-loggerheads-again-heres-why-tensions-are-rising-247533

    MIL OSI – Global Reports –

  • MIL-OSI Russia: Tea ceremonies, pandas and xiangqi: the Chinese New Year festival in Moscow has begun

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    The Chinese New Year in Moscow festival has begun in the capital. It will last until February 9 and will unite two dozen venues, including Manezhnaya, Tverskaya and Bolotnaya squares, Kamergersky and Stoleshnikov lanes, Tverskoy Boulevard, Novy Arbat, VDNKh, Moscow Zoo and others. The festival is held as part of a cross-program dedicated to the mutual Years of Culture of Russia and China.

    The opening ceremony was attended by the Director of the Department of Information and Press, official representative of the Ministry of Foreign Affairs of the Russian Federation Maria Zakharova, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Russian Federation Zhang Hanhui and the Deputy Mayor of Moscow Natalia Sergunina.

    “We invite everyone to celebrate the New Year in Moscow once again, this time according to the Eastern calendar. The January holidays were a great success, and the New Year’s venues welcomed millions of visitors. In the next two weeks, we will also have a rich and interesting program. More than 400 events are planned – theatrical performances, master classes, lectures, film screenings and tea ceremonies. The central streets are decorated with light installations,” noted Natalia Sergunina.

    A bright discovery

    The festival opened with a procession of symbols of the outgoing and incoming year – a dragon and a snake. Participants set off from the monument to Kliment Timiryazev on Tverskoy Boulevard and reached Manezhnaya Square. Here a drum show was organized for the guests.

    “The festival’s events are aimed at getting Russians and Chinese to know each other’s customs and traditions better. Guests can expect a colorful program that will last 13 days. Last year, the festival was held for the first time, but already then it was visited by more than 700 thousand people. I think this year the record will be broken,” shared Maria Zakharova.

    In 2024, the holiday received many positive responses from city residents and tourists. Famous Chinese bloggers attended the event and told their subscribers about it. In total, their videos collected about 45 million views. Reports from the Russian capital were shown on China’s central television channel.

    “In 2024, a large-scale celebration of the Spring Festival was held for the first time in the center of the Russian capital. Russia also brightly celebrated Maslenitsa in Beijing, Xi’an and other Chinese cities, which was to the liking of the Chinese people. The holding of traditional holidays by China and Russia in each other’s countries contributes to further strengthening mutual understanding and ties between us. This year, the Chinese New Year in Moscow festival will be even larger and, I believe, will definitely attract even more Chinese tourists who will share the joy of this holiday with their Russian friends,” Zhang Hanhui emphasized.

    Immersive shows and tea ceremonies

    Manezhnaya Square, the festival’s central venue, will host performances featuring Chinese artists for two weeks. In festive pagoda-style chalets, visitors will be offered traditional cuisine, from Hong Kong waffles to Peking duck. Anyone can also play xiangqi, the Chinese equivalent of chess.

    On Tverskaya Square, Muscovites and tourists can expect tea ceremonies, culinary competitions and oriental music in a modern arrangement.

    At VDNKh, dance master classes will be held on the skating rink and themed excursions. During them, experts will talk about the similarities and differences in celebrating the New Year in Russia and China, about painting styles and the space programs of the two countries.

    The Moscow Zoo invites you to watch immersive shows and documentaries about its inhabitants, including the favorite of the capital’s residents – panda Katyusha. On February 1 and 2, admission will be free for all guests named Ekaterina or in a panda costume.

    More than 120 restaurants in the city will join the event’s gastronomic program. They will present special menus with authentic dishes prepared according to traditional Chinese recipes.

    You can view the event schedule and learn about the conditions for visiting individual venues in the online publication “Russpass-magazine”.

    Traditional lanterns and panda figurines: how the capital was decorated in honor of the Chinese New YearDragon on Ice, Guohua Painting, and Go: VDNKh to Celebrate Chinese New Year

    Guests from China

    Today, China is a confident leader among foreign countries in the number of travelers coming to Moscow. And their number is constantly growing. In just nine months of last year, 335 thousand people from the Celestial Empire visited the capital. For comparison: in all of 2023, 245 thousand Chinese guests came to Moscow.

    Many tourists choose independent travel, their share is up to 83 percent of all guests from China. This provides an additional economic effect, since they spend on average four to six times more than participants in tourist groups.

    In addition, the share of business tourism has more than doubled in five years: now every fifth tourist from China comes to the capital for business purposes.

    Chinese New Year Festival will become part of large-scale project “Winter in Moscow”, which unites over 1.9 thousand sites. City residents and tourists are invited to warm up with tea and hot buns, go skating, skiing and tubing, participate in master classes, watch ice shows and theatrical performances, and show concern for those who need it.

    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 access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/149448073/

    MIL OSI Russia News –

  • MIL-OSI: Philadelphia Union & Atomic Data Announce Multi-Year Partnership Extension

    Source: GlobeNewswire (MIL-OSI)

    CHESTER, Pa. and MINNEAPOLIS, Jan. 28, 2025 (GLOBE NEWSWIRE) — Philadelphia Union and Atomic Data announced today that they have extended their partnership for five more years, bringing a wide range of managed IT services to the Major League Soccer Club through 2029. Under the official IT partnership, Atomic Data and Game Day Technologies will continue to oversee all of the Union’s IT operations and security measures.

    “We are excited to announce the extension of our multi-year partnership with Atomic Data,” said Chief Revenue Officer Charlie Slonaker. “Since our collaboration began in 2022, Atomic Data has significantly enhanced our technology operations and IT resources. Their 24×7 support has been instrumental in helping us achieve several key club goals. We look forward to continuing to develop innovative strategies to drive growth over the next five years.”

    As the official IT provider for Philadelphia Union, Subaru Park, & WSFS Bank Sportsplex, Atomic Data manages their servers and endpoints, monitors their network around the clock, and provides 24×7 end-user help desk support. They also strengthen the team’s cybersecurity with advanced tools and offer on-site tech support for the organization as needed.

    Atomic Data’s Yagya Mahadevan, head of sports and entertainment division Game Day Technologies, commented: “This multi-year extension reaffirms the strong partnership we’ve built with Philadelphia Union over the past three years, and we’re thrilled to enter the next phase. Looking ahead, we’re committed to helping Philadelphia Union implement robust processes to enhance their technology operations and deliver world-class infrastructure for the WSFS Bank Sportsplex.”

    About Atomic Data & Game Day Technologies
    Atomic Data, trusted IT provider for hundreds of enterprises, sports teams, and large venues, is on a mission to deliver always-on, custom-tailored technology solutions and objective IT leadership.

    Game Day Technologies® powered by Atomic Data enables owners and teams to right size and modernize their venues, districts, training facilities, and back offices with objective, holistic technology oversight and activation.

    For more information, please visit www.philadelphiaunion.com.

    The MIL Network –

  • MIL-OSI United Kingdom: Duchess of Edinburgh opens Sandhurst facility for army musicians

    Source: United Kingdom – Government Statements

    A new band facility on the Sandhurst Estate, Surrey has been formally opened by Her Royal Highness The Duchess of Edinburgh.

    HRH The Duchess of Edinburgh talks to some of the musicians during her visit. (MOD Crown Copyright)

    Her Royal Highness opened the facility in her role as Colonel-in-Chief of the Royal Corps of Army Music (RCAM).

    The new purpose-built band facility – named The Duchess of Edinburgh Hall – houses two distinguished bands from RCAM: the Band of the Coldstream Guards and the Army Engagement Ensemble. The building provides a modern, sustainable acoustic space for rehearsals and performances.

    The RCAM, which performs at State Ceremonial events, has received significant MOD investment under the £5.1 billion Defence Estate Optimisation (DEO) Portfolio.

    The facility was delivered by the Defence Infrastructure Organisation (DIO) contracting to Willmott Dixon, Pick Everard and HLM Architects. It was funded under the DEO Army Programme, which makes up the largest share of the DEO Portfolio, and is delivering a better structured and more sustainable defence estate. This supports military capability and enhances the lived experience of service personnel.

    Major General Richard Clements CBE, Director of Basing and Infrastructure, said:

    The new band facility at Sandhurst will enable army musicians to carry out their supporting state and ceremonial duties and national and international engagement for defence, both today and into the future. It is a fantastic example of the significant investment we are making to deliver benefits for our people, support military training and capability, and build a more sustainable estate.

    Combining modern buildings with the refurbishment of existing infrastructure, the Duchess of Edinburgh Hall comprises a glass-roofed atrium for ensemble performance practice, rehearsal rooms, an instrument store, music library, offices, storage space and a crew room. The design also includes solar panels and air source heat pumps.

    Sherin Aminossehe, MOD Director of Infrastructure and the Senior Responsible Owner for the DEO Portfolio, said:

    DEO is committed to delivering the highest quality buildings that improve the lived experience of our military personnel. This is evidenced in these impressive new facilities being opened today, which not only provide bespoke and very modern spaces for these prestigious bands to train in, but do so in a way that carefully integrates itself within the existing infrastructure to preserve the important history of the site.

    Historic stables dating back to the 1800s have been transformed into modern changing facilities, including the refurbished ‘Sullivan Block’, which is named after Thomas Sullivan who served as Bandmaster at The Royal Military Academy, Sandhurst from 1845 to 1857. He was the father of Sir Arthur Seymour Sullivan of ‘Gilbert and Sullivan’ fame. 

    Warren Webster, DIO MPP Army Programme Director, said:

    It’s fantastic to see this excellent new facility being opened by HRH The Duchess of Edinburgh. The different elements of the facility were carefully designed to meet the needs of army musicians and it was a pleasure to see Her Royal Highness’s reaction to them. The musicians have been making great use of the Duchess of Edinburgh Hall since its completion and we look forward to hearing their music fill these spaces for decades to come.

    The Band of the Coldstream Guards is a 54-piece symphonic wind band that supports a variety of high-profile events, including state ceremonies, public duties, commemorative and celebratory events, and repatriations. Additionally, it contributes to the UK’s defence efforts both domestically and internationally through community engagement and events. The Army Engagement Ensemble focuses on recruitment, supporting Recruiting Group and the army’s main effort to attract future soldiers.

    Major Justin Teggarty, Director of Music and Officer Commanding, Band of the Coldstream Guards said:

    This new facility is perfect for the Band’s needs. The quality of the design and finish is highly impressive, and we now have a comfortable, purpose-built, modern building in which to rehearse, collaborate and function to the highest standard. I am particularly impressed with the acoustics in the atrium: it is fantastic to be able to play together in a space that does justice to the talent and professionalism of army musicians.

    Updates to this page

    Published 28 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: TODAY: Governor Newsom, Magic Johnson, and Casey Wasserman to announce details of ‘LA Rises’ initiative

    Source: US State of California Governor

    Jan 28, 2025

    LOS ANGELES COUNTY — Governor Gavin Newsom, Earvin “Magic” Johnson, and Casey Wasserman, will announce “LA Rises,” a new public-private philanthropic initiative supporting Los Angeles as it recovers and rebuilds from recent firestorms.

    WHEN: Tuesday, January 28 at approximately 1 p.m.

    LIVESTREAM: Governor’s Twitter page, Governor’s Facebook page, and the Governor’s YouTube page. This event will also be available to TV stations on the LiveU Matrix under “California Governor.”

    **NOTE: This in-person press event will be open to credentialed media only. Media interested in attending must RSVP by clicking here no later than 11 a.m., January 28. Location information will be provided upon confirmation.

    Media Advisories, Recent News

    Recent news

    Jan 28, 2025

    News Dodgers Chairman Mark Walter, Mark Walter Family Foundation, and Los Angeles Dodgers Foundation will provide an initial commitment of up to $100 million  LA Rises will support city and county efforts to help accelerate recovery LOS ANGELES — In the wake of one of…

    Jan 27, 2025

    News LOS ANGELES — Scientists, water managers, state leaders, and experts throughout the state are calling out the federal administration’s ongoing misinformation campaign on water management in California. Here is a snapshot of what water leaders and media are saying…

    Jan 25, 2025

    News SACRAMENTO – Governor Gavin Newsom today announced the following appointments:Bret Ladine, of Sacramento, has been appointed Director of the Financial Information System for California (FI$Cal). Ladine has been General Counsel at the California State…

    MIL OSI USA News –

  • MIL-OSI: Atomicwork Secures $25M in Series A Funding to Transform Enterprise IT with Agentic AI

    Source: GlobeNewswire (MIL-OSI)

    San Francisco, Jan. 28, 2025 (GLOBE NEWSWIRE) — Atomicwork, a leading innovator in agentic service management solutions for Enterprise IT, today announced that it has raised $25 million in their Series A funding round. The round was led by Khosla Ventures and Z47, with participation from Battery Ventures, Blume Ventures, and Peak XV Partners. This new infusion of capital accelerates Atomicwork’s mission to transform IT service management (ITSM) with its innovative AI-native platform that modernizes how businesses operate and drive growth.

    A New Era for Enterprise IT Service Management
    Today’s enterprises face a pivotal moment. As operations expand globally and digital systems multiply, traditional ITSM tools are reaching their limits. These legacy solutions – built for an earlier era of process management – can’t keep pace with modern business demands. 

    CEOs and CIOs recognize the need for transformative change. The challenge isn’t just about managing IT anymore – it’s about empowering organizations to thrive in an increasingly dynamic digital landscape. 

    Atomicwork’s agentic service management platform combines an enterprise knowledge graph with agentic AI to offload work from IT teams, allowing them to focus on driving business impact rather than managing everyday processes. By radically simplifying enterprise workflows, managing incidents in real-time, and enabling self-healing, Atomicwork is helping businesses stay ahead in today’s fast-moving digital business environment. 

    Atomicwork founders: (L to R): Kiran Darisi, Vijay Rayapati and Parsuram Vijayasankar.

    “We are pioneering agentic service management to transform how companies manage their IT workflows and enterprise services. This investment is a significant milestone, validating our vision of a future where smarter IT teams drive business growth and companies are empowered by technology, not bogged down by it.” said Vijay Rayapati, co-founder and CEO of Atomicwork. “Our unified and adaptive self-service experience will enable businesses to move faster.” 

    Global businesses like Zuora and Pepper Money use Atomicwork to empower their teams with seamless service, intelligent automation, and actionable insights, driving productivity and transforming their digital workplace experience. 

    Backing by Industry Leaders 
    The funding round comes on the heels of strong product adoption and backing from 40+ global CIOs, CTOs and industry veterans. 

    “Atomicwork’s AI agents can autonomously handle everyday IT services, and employees can then focus on actually growing the business,” said Kanu Gulati of Khosla Ventures. “This is the AI innovation that large organizations need to radically transform how they work.”  

    “Atomicwork has built a remarkable team and proven technology, and we’ve witnessed firsthand how they’re transforming IT service management for global businesses. Their potential is immense to redefine the future of enterprise IT with Agentic AI.” said Pranay Desai, Managing Director at Z47.  “Having been part of their journey since the seed round, we’re thrilled to continue our partnership and support their next phase of growth. ”  

    Future growth and expansion 
    These Series A funds will be used to further scale and deploy Enterprise AI agents and invest in GTM expansion. The company plans to enhance its platform support for key enterprise integrations and ensure seamless scalability. 

    “Enterprise IT is undergoing a radical transformation and Atomicwork’s agentic service management platform is in a great position to innovate in this space,” said Neeraj Agrawal, General Partner at Battery Ventures. “We are excited to be a part of the company’s journey as it continues to scale and innovate for enterprise IT teams.”

    Ends

    Media images can be found here. 

    About Atomicwork 
    Atomicwork helps enterprises reduce IT service costs and boost productivity through its agentic service management platform. Built for modern businesses, Atomicwork eliminates manual IT tasks, reducing resolution times by 90%, and empowers IT teams to focus on strategic initiatives that drive growth.

    Trusted by leading enterprises, Atomicwork transforms enterprise service management while delivering exceptional employee experiences and accelerating business success. Headquartered in San Francisco, Atomicwork also has offices in Singapore and India. For more information please visit: www.atomicwork.com

    The MIL Network –

  • MIL-OSI Russia: Results of the International Festival of the Merry and Inventive: the Scientific and Methodological Center of KVN will open at the State University of Management

    Translartion. Region: Russians Fedetion –

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

    From January 21 to 25 this year, the fourth All-Russian forum “KVN – School of Leaders” was held in Sochi as part of the International Festival “KiViN-2025”. The event was organized by the Ministry of Science and Higher Education of the Russian Federation, the State University of Management and the Television Creative Association “AMiK”.

    The goal of the Forum is to strengthen and further develop the youth movement of the Club of the Merry and Resourceful among employees of federal and regional executive authorities involved in the implementation of youth policy and educational work, as well as specialists from higher education institutions involved in programs in the same areas.

    The central event of the Forum was the panel discussion “KVN – School of Leaders”. The participants were greeted via videoconference by Deputy Minister of Science and Higher Education Olga Petrova. The speakers of the panel discussion were:

    — Tatyana Omelchuk – representative of the Department for Public Projects of the Presidential Administration; — Vladimir Stroyev – rector of the State University of Management; — Alexander Maslyakov – general director of TTO “AMiK”; — Anton Serikov – general director of the Mashuk Knowledge Center; — Ruben Partevyan – deputy general director of TTO “AMiK”; — Pavel Pavlovsky – vice-rector of the State University of Management.

    The participants discussed the scale of the KVN movement in Russian universities, which involves about 22 thousand activists from all over the country, who played about 650 games at their universities last year. “KiViN-2025” brought together more than 550 teams in Sochi. All of them represent enormous potential for the development of youth policy and creative industry in their regions.

    In order to develop the university movement of the cheerful and resourceful, with the support of the Ministry of Education and Science of Russia, it was decided to create a Scientific and Methodological Center for KVN on the basis of the State University of Management, which will help everyone who wants to organize their games, leagues and cups, teach them how to interact with the management of universities, seek financial support outside of universities, and set the right vector for the development of student KVN in Russia.

    The Forum program was rich and diverse. Key tasks and goals were presented at the introductory session. During the first day, participants also had a unique opportunity to meet with the management of TTO “AMiK”, discuss the prospects for the development of the KVN movement, and exchange their experiences with each other in an informal setting.

    The second day opened with a lecture on the role and importance of the movement of the cheerful and resourceful in achieving the national goal – revealing the potential of each person, developing their talents and nurturing patriotism and social responsibility. Later, the participants had the opportunity to talk with the head of the Safe Internet League Ekaterina Mizulina. During the day, master classes were held on the legal aspects of organizing KVN games, as well as issues of interaction between official children’s leagues and regional branches of the “Movement of the First”.

    The third day of the forum included a workshop on “Creative and motivational aspects of organizing Club games in educational institutions.” A strategic session on new forms of integrating the KVN movement into state youth policy was also held with the participation of representatives of the Department of State Youth Policy and Educational Activities of the Ministry of Education and Science of the Russian Federation.

    The last, fourth day, January 24, gave the participants the opportunity to attend a lecture on the formation of federal standards for organizing KVN games and training teams of various levels. This was followed by a strategic session dedicated to children’s KVN, issues of its development and interaction at the local level.

    The organizers expressed confidence that the Forum will be an important step towards strengthening and further developing the KVN youth movement in Russia, contributing to the formation of a new generation of leaders capable of making a significant contribution to the future of the country.

    At the International Festival “KiViN-2025” the State University of Management was represented by four teams: “Singlplayer”, “Ikhnie”, “Fildepersovye” and “Kontora”. The guys coped with dignity, showing brilliant performances and a high level of training.

    “Singlplayer” once again made it to the second round of the festival and eventually received an invitation to the show “League of Cities” on TNT. “Fildepersovye” made it to the second round for the first time, performed in front of Alexander Maslyakov and got the opportunity to play in the Central Leagues of the International Union of KVN. “Kontora” made a successful debut at the Sochi festival and received an “increased rating”, which is a significant achievement for newcomers and gives the right to perform in the Central Leagues.

    Moreover, these three teams were nominated for the “Break of the Day” after their performances in the first round. The editors only award this nomination to 5 out of 80-90 teams whose performances were the funniest and most memorable.

    The KiViN-2025 festival for the teams of the KVN League of the State University of Management was incredibly successful. We are proud of the guys for their work, creativity and desire to win. Congratulations to everyone and wish them great success in the next season!

    Subscribe to the TG channel “Our GUU” Date of publication: 01/28/2025

    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.

    MIL OSI Russia News –

  • MIL-OSI: Golar LNG Limited – Q4 2024 results presentation

    Source: GlobeNewswire (MIL-OSI)

    Golar LNG’s 4th Quarter 2024 results will be released before the NASDAQ opens on Thursday, February 27, 2025. In connection with this a webcast presentation will be held at 1:00 P.M (London Time) on Thursday February 27, 2025. The presentation will be available to download from the Investor Relations section at www.golarlng.com

    We recommend that participants join the conference call via the listen-only live webcast link provided. Sell-side analysts interested in raising a question during the Q&A session that will immediately follow the presentation should access the event via the conference call by clicking on this link. We recommend connecting 10 minutes prior to the call start. Information on how to ask questions will be given at the beginning of the Q&A session. There will be a limit of two questions per participant.

    a. Listen-only live webcast link
    Go to the Investors, Results Centre section at www.golarlng.com and click on the link to “Webcast”. To listen to the conference call from the web, you need to have a sound card on your computer, but no special plug ins are required to access the webcast.  There is a “Help” link available on the webcast pages for anyone who may have issues accessing.

    b. Teleconference

    Conference call participants should register to obtain their dial in and passcode details. This process eliminates wait times when joining the call.

    When you log in, you can either dial in using the provided numbers and your unique PIN, or select the “Call me” option and type in your phone number to be instantly connected to the call. Use the following link to register.

    Please download the presentation material from www.golarlng.com (Investors, Results Centre) to view it while listening to the conference.

    If you are not able to listen at the time of the call, you can assess a replay of the event audio for a limited time on www.golarlng.com (Investors, Results Centre).

    This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

    The MIL Network –

  • MIL-OSI: Verity and Landus Announce Agreement to Track and Verify Sustainable Agriculture Attributes at Soybean Facility

    Source: GlobeNewswire (MIL-OSI)

    ENGLEWOOD, Colo., Jan. 28, 2025 (GLOBE NEWSWIRE) — Verity Holdings, LLC (“Verity”), a subsidiary of Gevo, Inc. (NASDAQ: GEVO), and Landus are pleased to announce a new agreement aimed at unlocking added value for farmers through sustainability premiums via export markets. This collaboration leverages Verity’s advanced platform to track and verify the attributes of agricultural products, enabling Landus to document and assign value metrics for soybeans processed at its soybean facility in Ralston, Iowa.

    This farmer-centric agreement reinforces Verity and Landus’ commitment to expanding opportunities in international markets for sustainably certified products, such as those derived from regeneratively grown soybeans and corn. By streamlining the certification and data-verification process, the partnership aims to deliver measurable premiums to farmers meeting program requirements while incentivizing processors to adopt efficiency-enhancing systems that drive long-term sustainable outcomes.

    “Landus and Verity will work together to capture and verify key attribute data that drives value throughout the supply chain,” said Paul Bloom, Chief Business Officer for Gevo. “As a leader in the industry, Landus recognizes the importance of collecting trustworthy, verifiable data to document agriculture attributes and connect them to finished products through the supply chain. Farmers and customers are realizing the power of collaboration across the supply chain to drive meaningful and scalable impact.”

    As part of this partnership, Landus and Verity plan to expand data-verification efforts to additional Landus facilities and pilot innovative market solutions. By sharing regular progress updates, they remain committed to building trust and transparency with farmer-owners and stakeholders.

    “Our focus on quality, a unique soybean supply chain, and our commitment to creating value-added opportunities for farmer-owners have always set us apart,” said Craig Mouchka, Director of Strategic Partnerships and Sustainability at Landus. “Verity equips us with the tools to maximize sustainability premiums through export markets while fulfilling our promise to deliver innovative solutions and new opportunities for our farmer-owners.”

    Farmer-owners interested in participating in sustainability initiatives or learning more about market premiums can contact their local Landus representative.

    “We are partnering with organizations that prioritize scalable solutions and sustainable agriculture done right,” said Bloom. “Landus and Verity are demonstrating the value of collaboration from field to finished product, ensuring that sustainability premiums benefit farmers, processors, and their customers alike—particularly in the growing export markets for differentiated agricultural goods.”

    About Gevo
    Gevo’s mission is to convert renewable energy and biogenic carbon into sustainable fuels and chemicals with a net zero or better carbon footprint. Gevo’s innovative technology can be used to make a variety of products, including sustainable aviation fuel (“SAF”), motor fuels, chemicals, and other materials. Gevo’s business model includes developing, financing, and operating production facilities for these renewable fuels and other products. It currently runs one of the largest dairy-based renewable natural gas (“RNG”) facilities in the United States. It also owns the world’s first production facility for specialty alcohol-to-jet (“ATJ”) fuels and chemicals. Gevo emphasizes the importance of sustainability by tracking and verifying the carbon footprint of its business systems through its Verity subsidiary.
    For more information, see www.gevo.com.

    About Verity
    Verity is at the forefront of creating the ability to track, verify, and empirically value carbon intensity across the full carbon lifecycle. Verity Holdings, LLC is a wholly owned subsidiary of Gevo, Inc. For more information, see www.veritytracking.com.

    About Landus
    Landus is a forward-thinking agriculture solutions company that keeps the farmer at the center of every decision it makes. The company connects thousands of farmer-owners with the world through grain, agronomy, and distribution, deploying traditional and nontraditional methods fueled by innovation and sustainability. Landus’ businesses touch 34 states and 16 countries. To learn more about Landus, and the company’s commitment to solving critical issues for the farmer of tomorrow, please visit landus.ag.

    Forward Looking Statement
    Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, Verity’s technology and platform, the commercial benefits of using the Verity platform, and the attributes of Verity’s platform, the value of sustainability premiums and other statements that are not purely statements of historical fact. These forward-looking statements are made based on the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

    Media Contact
    Heather Manuel
    VP, Stakeholder Engagement & Partnerships
    PR@gevo.com

    Kaylie Tighe
    Communications Manager
    Kaylie.tighe@trailrunnerint.com

    IR Contact
    Eric Frey
    VP, Finance & Strategy
    IR@Gevo.com

    The MIL Network –

  • MIL-OSI: Exela Technologies Announces Strategic Partnership with Michael Page

    Source: GlobeNewswire (MIL-OSI)

    IRVING, Texas, Jan. 28, 2025 (GLOBE NEWSWIRE) — Exela Technologies, Inc. (“Exela” or the “Company”) (OTC: XELA, XELAP), a global business process automation (BPA) leader, has announced a strategic partnership between its Finance and Accounting Outsourcing (FAO) Business Unit and Michael Page, a leading recruitment firm specializing in leadership hiring for large enterprises.

    Michael Page, through this partnership, plans to expand Exela’s successful Center of Excellence across various corporate functions, including Finance Shared Services, by deploying Build-Operate-Transfer, Captive, and Business Processes as a Service to their enterprise customers. This collaboration is expected to further strengthen Exela’s position as a trusted partner for delivering tailored, scalable financial solutions.

    “Partnering with Michael Page opens up exciting new avenues for us,” said Sandeep Sapru, President, APAC, Exela Technologies. “This collaboration allows us to bring our deep expertise in finance outsourcing to a wider global audience, helping enterprise clients streamline operations, drive efficiency, and enhance financial outcomes.”

    The partnership reflects a rigorous, strategic process showcasing Exela’s expertise in consulting and executing BOT and captive models. Michael Page’s confidence in Exela was bolstered by the success of its Shared Services Center (SSC) and Full-Service Play (FSP) model, demonstrating Exela’s ability to meet the unique needs of enterprise clients.

    “India continues to be a hub of exceptional talent, with enterprises seeking innovative solutions to optimize their operations and drive strategic growth,” said Anshul Lodha, Managing Director of Michael Page India. “Our partnership with Exela Technologies combines our deep expertise in leadership recruitment with their proven capabilities in finance outsourcing, enabling us to deliver tailored solutions that meet the evolving needs of the Indian business landscape. Together, we are well-positioned to help organizations in India and beyond build resilient, high-performing teams that drive long-term success.”

    As Exela enters FY25, the partnership underscores its commitment to driving growth, innovation, and impactful collaborations that redefine finance outsourcing and shared services.

    About Exela

    Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune® 100. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry, departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Through cloud-enabled platforms, built on a configurable stack of automation modules, and approximately 15,000 employees operating in 21 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.

    To automatically receive Exela financial news by email, please visit the Exela Investor Relations website, http://investors.exelatech.com/, and subscribe to Email Alerts.

    Forward-Looking Statements

    Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may”, “should”, “would”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “seem”, “seek”, “continue”, “future”, “will”, “expect”, “outlook” or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, and those discussed under the heading “Risk Factors” in our Annual Report and in subsequent filings with the U.S. Securities and Exchange Commission (“SEC”). In addition, forward-looking statements provide expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause assessments to change. These forward-looking statements should not be relied upon as representing Exela’s assessments as of any date subsequent to the date of this press release.

    For more Exela news, commentary, and industry perspectives, visit:

    Website: https://investors.exelatech.com/
    X: @ExelaTech
    LinkedIn: /exela-technologies
    Facebook: @exelatechnologies
    Instagram: @exelatechnologies

    Investor and/or Media Contacts:

    ir@exelatech.com

    Source: Exela Technologies, Inc.

    The MIL Network –

  • MIL-OSI: The Trade Anything Vision: Unlocking Instant Liquidity and Infinite Markets on dYdX in 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Jan. 28, 2025 (GLOBE NEWSWIRE) — The dYdX Foundation reflects on 2024 achievements, including $270B+ in trading volume, 175 markets, and $79M+ USDC in MegaVault, while highlighting the 2025 roadmap.
    The dYdX Foundation (“the Foundation”), an organization focused on supporting and growing the dYdX protocol ecosystem, today released the 2024 dYdX Ecosystem Report and highlighted dYdX Trading’s 2025 software roadmap built around the ecosystem’s “Trade Anything” vision. The report showcases a notable year of growth for dYdX, with $270B in trading volume, pushing the total cumulative volume to $1.46T since 2021. The Unlimited upgrade, launched in November 2024, proved to be a significant catalyst for the protocol, introducing MegaVault, a liquidity tool that surpassed $79M USDC in TVL to support the over 175 markets available on dYdX, many of which have been added through the new instant market listings feature. 
    The traction behind decentralized trading, especially within perpetual markets, continues to project favorably in 2025 and beyond. Up 132% to $1.5T in 2024, the total perp DEX volumes skyrocketed – dYdX’s 2024 trading volume alone would’ve amounted to over one-third of the entire industry’s volume in 2023, and the exchange has remained at the forefront of what is projected to be one of the fastest growing sectors in the space in 2025. This momentum is reflected in the dYdX community with the number of DYDX holders increasing by 290% to 53,000 in 2024. To remain at the cutting edge of the market, dYdX is going all-in on its “Trade Anything” vision, seeking to empower users to trade thousands of markets with instant liquidity through the growth and evolution of MegaVault.  
    “dYdX is breaking barriers to enable a permissionless future where any asset can be traded instantly with immediate liquidity. In 2024, we saw transformative growth driven by our community, through upgrades, DAO proposals, grants, and the Affiliate Program. We’re carrying this momentum into 2025” said Charles d’Haussy, CEO of the dYdX Foundation.
    The launch of dYdX Unlimited in November 2024 introduced innovative features like Instant Market Listings and MegaVault, unlocking hundreds of new markets. Over 150 have already been launched permissionless by the dYdX community, including the pioneering Trump prediction market perpetual ahead of the U.S. election, as well as perps on FX markets like the Turkish Lira and the Euro. In just six weeks, MegaVault reached a TVL of over $70M with an APR exceeding 40%, showcasing a strong product-market fit. As MegaVault continues to mature, liquidity across all markets will continue to improve, solidifying dYdX as DeFi’s pro trading platform for markets of all sizes. 
    According to the team, looking ahead, the community can anticipate instant deposits, an enhanced mobile UX, and various onboarding upgrades, all geared to onboard a slew of new traders entering the space in the new year. Trading enhancements, including permissioned keys and optimized execution speeds, are set to go live imminently. 
    “With institutional and retail interest continuing to evolve, we’re confident that dYdX is positioned as the go-to-market option for derivatives trading, catering to investors of all levels. Alongside the community, we’re excited about the enhancements coming to the protocol in 2025 to make the trading experience on dYdX best-in-market in terms of simplicity and efficiency”, added d’Haussy.
    On the governance front, the number of DYDX holders increased by 290% to 53,000 in 2024, adding more voices to shape the future of the ecosystem. With the launch of a revamped Trading Rewards Program allowing traders to gain back a portion of the fees they pay in the form of rewards distributed in $DYDX, traders received over $63 million in rewards and incentives (excluding staking rewards), including instant rewards paid out by the protocol and the monthly Chaos Labs incentive program.
    Looking ahead to 2025, trading rewards will continue at the protocol level, with an additional $1.5 million allocated for the monthly Chaos Labs incentive program. The DAO will focus on infrastructure optimization, comprehensive documentation, and quality assurance as key priorities in 2025.
    To review the full report, users can visit here. 
    About dYdX Foundation
    The dYdX Foundation‘s purpose is to support and grow the dYdX protocol ecosystem by enabling communities, developers, and decentralized governance.
    The dYdX Chain software is open-source software to be used or implemented by any party in accordance with the applicable license. At no time should the dYdX Chain or its software be deemed to be a product or service provided or made available in any way by the dYdX Foundation. Interactions with the dYdX Chain software or any implementation thereof are permissionless and disintermediated, subject to the terms of the applicable licenses and code. Users who interact with the dYdX Chain software (or any implementations thereof) will not be interacting with the dYdX Foundation in any way whatsoever.
    The dYdX Foundation does not make any representations, warranties, or covenants in connection with the dYdX Chain software (or any implementations and/or components thereof), including (without limitation) with regard to their technical properties or performance, as well as their actual or potential usefulness or suitability for any particular purpose. Nothing in this post should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act by anyone. The dYdX Foundation makes no recommendation as to how to vote on any proposal in dYdX governance or to take any action whatsoever. The dYdX community is sovereign to make decisions freely and at its sole discretion, in accordance with the governance rules, principles, and mechanisms adopted by the dYdX DAO. The dYdX Foundation does not participate in governance decisions to be made by the dYdX community, including, without limitation, by voting on governance proposals. The dYdX Foundation makes no guarantees and is under no obligation to undertake any of the activities contemplated herein.
    Nothing in this post should be considered as financial, investment or any other advice. Crypto-assets can be highly volatile and trading crypto-assets involves risk of loss, particularly when using leverage. Investment into crypto-assets may not be regulated and may not be adequate for retail investors. Do your own research and due diligence before engaging in any activity involving crypto-assets. 
    Media Contact 
    M Group Strategic Communications (on behalf of dYdX Foundation)
    dydx@mgroupsc.com

    Contact

    Dillon Arace
    darace@mgroupsc.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1a75c40a-28bc-405e-afbe-b7d34a9df4b5

     

    The MIL Network –

  • MIL-OSI Economics: François Villeroy de Galhau: For a high speed and safe journey into the financial future

    Source: Bank for International Settlements

    Ladies and gentlemen,
    It is a great pleasure to welcome you to this high-level conference organised by the Banque de France on speed and innovation, and how they could be disruptive for financial markets and market infrastructures. Let me thank Emmanuelle Assouan and her teams for setting up this event. I would also like to extend my warm thanks to all participants from industry, public authorities and central banks who will give their views during three roundtables today, including my colleagues and friends Andrea Maechler, Piero Cipollone and Naoto Shimoda.

    It is a première for a Banque de France conference to be held here at the Cinémathèque française, which is definitely an excellent venue for our theme of today: we are here in the place where speed is made art. As you know, cinema was invented in France by the Lumière brothers in the late 19th century. During the projection in 1896 of one of their very first movies, The arrival of a train at La Ciotat station, the audience was so overwhelmed by the moving image of a train coming directly at them that people ran away. But we do not fear speed anymore, on the contrary: it has become a key success factor in financial markets and market infrastructures, yielding high benefits. Transactions and their settlement have already become dramatically swifter over the last decades – notably in France, which was at the forefront in dematerialising securities – and will continue gathering speed. I will first elaborate on the reasons why, in a fast-moving environment, resilience must be preserved in order to ensure financial stability (I). Our public-private partnership has to evolve, with a view to enhancing cross-border payments and the holistic project of creating a shared ledger (II). 

    I. A fast-moving financial system whose resilience must be preserved in order to ensure financial stability

    Markets are undergoing structural changes, all driven by increased speed aimed at achieving higher efficiency. Automation and high-frequency trading are driving a rise in daily trading volumes; new participants have emerged, and incumbents have evolved. Nowadays, robots and algorithms are unlocking new possibilities, while artificial intelligence offers the promise of value added in trading, customer relationships and investment decisions. From photography to digital movies, from local theatres to global web platforms, cinematography has gone through technological revolutions over the years. However, whether it’s in cinema or finance, speed is not a goal per se. The social utility of certain accelerations such as high-frequency trading remains to be seen, and they carry risks. We must reflect on new guardrails to protect against possible increased market volatility – and even potential flash crashes caused by poorly coordinated algorithms that can amplify massive sell-offs.
     
    Post-market processes are keeping pace with this acceleration in trading: settlement is getting ever faster. A few years ago, implementing T+2 (i.e. ensuring settlement within two days of transaction execution) was a major step forward for all players, as enshrined in the European CSDR regulation.i Nowadays we are once again aiming for more ambitious targets, with an objective of T+1 in Europe in 2027 – as has already been the case in the United States, Canada and Mexico since end-May last year. Interestingly, across the Atlantic, this evolution was driven by market players, who saw in the shortening of the settlement cycle an opportunity to further reduce liquidity, counterparty and operational risks. The American experience also shows that T+1 yields direct financial benefits, in particular a significant lowering of CCP margins. T+1 therefore received overall support in ESMA’s and the Commission’s public consultations. I trust that we are all well aware of the operational requirements and challenges to be met:ii  preparatory work must start now, with the adaptation of IT systems and further automation of processes. It is also important to coordinate with the United Kingdom and Switzerland, and to pay due attention to the consequences in terms of shorter cut-offs – notably for FX transactions.
     
    The tokenisation of assets is obviously another groundswell movement, which could further enhance the straight-through processing of trade and post-trade activities, and paves the way for yet another acceleration with a widespread implementation of T+0. It has the potential to generate even greater savings both for the financial industry and end-users. To date, the nascent DLTiii  finance has used new forms of commercial bank money as settlement assets, such as tokenised deposits or so-called stablecoins. As experience has shown in the last few years, they are far from immune, and Europe has made the right step by adopting the MiCA regulation. Failing to regulate crypto-assets and non-banks today would merely sow the seeds for tomorrow’s financial crisis.
     
    Beyond these regulatory issues, it has become more and more apparent that we currently lack the anchor provided by central bank money, which drastically reduces counterparty and liquidity risks, and crucially ensures the finality of payments. A wholesale central bank digital currency would ensure convertibility between tokenised assets, exactly as central banks currently ensure convertibility between commercial bank monies, allowing for delivery-versus-payment and payment-versus-payment. In short, tokenised central bank money would provide a “safety pivot”, and serve as a reliable basis of trust on which these new technologies could realise their full potential.

    II. A step further with the interlinking of fast-payment systems and a European shared ledger to meet the challenges of transition and growth

     
    Central banks must therefore keep up with these developments,iv  in order to explore the potential of DLT and foster innovation while preserving the anchoring role of central bank money. Building among others on the Banque de France’s pioneering experiments between 2020 and 2023,v  the Eurosystem conducted a series of new experiments on wholesale CBDC between April and November 2024,vi  with the active involvement of the Banque de France, Banca d’Italia and Bundesbank as solution providers. We witnessed active industry participation in the Eurosystem experiments, and I would like to take the opportunity to pay tribute to your strong commitment – which, I believe, also reflects the growing awareness of the need for a safe settlement asset.
     
    Together, we successfully tested numerous and very diverse use cases, ranging from primary issues to cross-currency payments, repos, margin calls and asset management, to give a few examples. Actual settlement was even tested for the lifecycle management of securities and secondary market transactions. With this ambitious programme, we have further delivered on our learning-by-doing approach, which is of the essence. As announced, the Eurosystem will draw lessons from the exploratory work, including on how to facilitate the provision of central bank money settlement for wholesale asset transactions on DLT platforms. Clearly, it is in the interest of both European commercial banks and the public sector to work together towards a tokenised European framework: money is and will remain a public-private partnership, which has to evolve.
     
    As regards cross-border payments, the Eurosystem has launched initiatives to help improve them, including exploratory work on linking TIPS with other fast-payment systems such as UPI in India. We thereby support the G20 roadmap for creating a faster, cheaper, more transparent and accessible global payments ecosystem, while ensuring secure and reliable instant payments. The G20 roadmap also foresees, in the longer term, the use of tokenisation to further enhance cross-border payments.
     
    We now need to bring all these advances together to create a global motion picture, in a holistic manner. Here, the idea of a “unified ledger” put forward by the BISvii  looks like more than a promising technology: a rallying concept, or even a utopia. This next-generation market infrastructure would take one day in the future the shape of a shared, seamless and programmable platform that integrates central bank money, commercial bank money and tokenised financial assets – which would call for redefined and improved public-private partnerships. Accordingly, in April 2024 the BIS launched Project Agorá,viii  to explore the tokenisation of cross-border payments to improve the existing correspondent banking model. This major project brings together seven central banks worldwide, including the Banque de France which represents the Eurosystem, and a large group of private financial firms. But a first and necessary step towards such a global infrastructure should be to build regional shared ledgers – one of which would be European.
     
    A European shared ledger could prove an efficient means to overcome European market fragmentation and current inefficiencies, by facilitating the provision of seamlessly connected services across Europe. It would therefore act as a catalyst for a Savings and Investments Union, and provide tools such as green bonds and securities to finance the green transition, at a time where we have to mobilise Europe’s private savings surplus of more than EUR 300 billion a year. In short, it would be an important lever for achieving our climate but also digital transformations, which are among our main challenges; it would also help Europe to gain in both size – by unifying its single market – and speed. Achieving this ambitious vision requires moving forward step by step, in a phased approach. Rather than replacing existing infrastructures which have already helped to reduce fragmentation in Europe – like the harmonised settlement system T2S –, this new shared infrastructure would tackle markets which still rely on manual processes and lack standardisation, such as OTC markets and unlisted stocks. A crucial first step will be to make central bank money available on this infrastructure: this makes it all the more important to offer a wholesale CBDC solution in the short term to prepare this long term target.

    Let me conclude with Billy Wilder, the director of Some like it hot. He once gave this sound piece of advice: “If you have a problem with the third act, the real problem is in the first act.” This leads me to a twofold conclusion: first, that it is the right time to engage in the design and experimentation of market infrastructures of the future; second, that fast-paced transformations should not be at the expense of past achievements in financial stability, and increase risks. Central bank money must remain the settlement asset at the core of the financial system, whether tokenised or not. Under this condition, our common technological breakthroughs could contribute to meeting our major challenges. Thank you for your attention. 

    MIL OSI Economics –

  • MIL-OSI Video: UK Misogyny in music: follow up – Women and Equalities Committee

    Source: United Kingdom UK Parliament (video statements)

    The Women and Equalities Committee are taking evidence on misogyny in the music industry

    They will assess what progress has been made since they published their report in January 2024, including:

    what support is available for those experiencing discrimination and abuse
    representation and safety at concerts and festivals
    what steps the Government and industry bodies should take to combat misogyny

    #SelectCommittee #Politics #UKPolitics #MusicIndustry #MusicIndustryNews #WomenInMusic #MisogynyinMusic

    https://www.youtube.com/watch?v=PSFkgvNTqKA

    MIL OSI Video –

  • MIL-OSI: Maris-Tech Announces First Customer Conference: Edge of Tomorrow – Video & AI at the Frontier of Defense Innovation

    Source: GlobeNewswire (MIL-OSI)

    Join industry leaders and innovators on February 27, 2025 for a day of industry insights and networking opportunities

    Rehovot, Israel, Jan. 28, 2025 (GLOBE NEWSWIRE) — Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the “Company”), a global leader in video and artificial intelligence (“AI”) based edge computing technology, is thrilled to announce its first annual customer conference, Edge of Tomorrow – Video & AI at the Frontier of Defense Innovation. This exclusive event will place on February 27, 2025, in Rishon LeZion, Israel, and will gather industry professionals, thought leaders and collaborators to explore cutting-edge developments in edge computing and its central role in defense operations.

    Attendees will gain valuable insights into the future of video and AI acceleration, with a sharp focus on how this innovation is reshaping defense operations, enabling faster decision-making and independent functionality in challenging environments.

    The conference agenda features keynote presentations by renowned guest speakers, in-depth technical sessions, and live product demonstrations during session breaks. Attendees will also have the chance to network with peers, engage with Maris-Tech’s expert team, and gain hands-on experience with the Company’s innovative solutions.

    “We are very excited to present our first customer conference,” said Israel Bar, Chief Executive Officer of Maris-Tech. “It’s an honor to host some of the most influential guest speakers in our field and to welcome our valued customers and partners. This event will represent a unique opportunity to foster collaboration and share knowledge about the cutting-edge technologies driving the future of defense innovation.”

    For more information, to view the agenda, and to register, visit the event’s official webpage: https://maris-tech.forms-wizard.co/users/new.

    About Maris-Tech Ltd.

    Maris-Tech is a global leader in video and AI-based edge computing technology, pioneering intelligent video transmission solutions that conquer complex encoding-decoding challenges. Our miniature, lightweight, and low-power products deliver high-performance capabilities including raw data processing, seamless transfer, advanced image processing, and AI-driven analytics. Founded by Israel technology sector veterans, Maris-Tech serves leading manufacturers worldwide in defense, aerospace, Intelligence gathering, homeland security (HLS), and communication industries worldwide. We’re pushing the boundaries of video transmission and edge computing, driving innovation in mission-critical applications across commercial and defense sectors.

    For more information, visit https://www.maris-tech.com/

    Forward-Looking Statement Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect”,” “may”, “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, the Company is  using forward-looking statements when it is discussing the conference and the Company’s expectation for the benefits of the conference and anticipated opportunities to foster collaboration and share knowledge about the cutting-edge technologies driving the future of defense innovation; and the benefits and advantages of video and AI acceleration. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully market our products and services, including in the United States; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in the Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 21, 2024, and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Relations:

    Nir Bussy, CFO
    Tel: +972-72-2424022
    Nir@maris-tech.com

    The MIL Network –

  • MIL-OSI: First Financial Northwest, Inc. Reports Net Income of $1.2 Million or $0.13 per Diluted Share for the Fourth Quarter and $1.1 Million or $0.12 per Diluted Share for the Year Ended December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    RENTON, Wash., Jan. 28, 2025 (GLOBE NEWSWIRE) — First Financial Northwest, Inc. (the “Company”) (NASDAQ GS: FFNW), the holding company for First Financial Northwest Bank (the “Bank”), today reported net income for the quarter ended December 31, 2024, of $1.2 million, or $0.13 per diluted share, compared to a net loss of $608,000, or $(0.07) per diluted share, for the quarter ended September 30, 2024, and net income of $1.2 million, or $0.13 per diluted share, for the quarter ended December 31, 2023. For the twelve months ended December 31, 2024, the Company reported net income of $1.1 million, or $0.12 per diluted share, compared to net income of $6.3 million, or $0.69 per diluted share, for the year ended December 31, 2023.

    The improved performance in the current quarter compared to the quarter ended September 30, 2024, was due primarily to a $1.3 million recapture of provision for credit losses. This compares to a provision for credit losses of $1.6 million in the prior quarter that mainly related to two participation loans to a single borrowing entity totaling approximately $6.0 million, where we were not the lead lender. During the quarter ended December 31, 2024, one of the two loans was paid in full and the borrower paid down the balance on the other loan using proceeds from the sale of another property. Subsequently, we received an updated appraisal of the property securing the remaining loan that confirmed a value sufficient to support the recapture of the previously allocated specific reserve for this loan.

    “I am pleased to report that our net loans receivable increased $14.0 million in the quarter as our lending teams continue to focus on growing our loan portfolio. In addition, our credit quality remained strong, with only $842,000 in nonaccrual loans, representing 0.07% of our $1.16 billion total loan portfolio,” stated Joseph W. Kiley III, President and CEO.

    “We continue to prepare for the closing of the sale of the Bank to Global Federal Credit Union (“Global”), as we await the final required approval from Global’s primary regulator, the National Credit Union Administration, before we can proceed towards closing the transaction,” concluded Kiley.

    Highlights for the quarter and year ended December 31, 2024:

    • Net loans receivable totaled $1.14 billion at December 31, 2024, compared to $1.13 billion at September 30, 2024, and $1.18 billion at December 31, 2023.
    • Book value per common share was $17.50 at December 31, 2024, compared to $17.39 at September 30, 2024, and $17.61 at December 31, 2023.
    • The Bank’s Tier 1 leverage and total capital ratios were 11.2% and 16.7% at December 31, 2024, compared to 10.9% and 16.7% at September 30, 2024, and 10.2% and 16.2% at December 31, 2023, respectively.
    • Credit quality remained strong with nonaccrual loans totaling $842,000, or 0.07% of total loans at December 31, 2024.
    • A $1.3 million recapture of provision for credit losses was recorded in the current quarter, compared to a $1.6 million and no provision for credit losses recorded during the prior quarter and the same quarter a year ago, respectively. We recorded a $50,000 recapture of provision for credit losses for the year ended December 31, 2024, compared to a $208,000 recapture of provision for credit losses for the year ended December 31, 2023.

    Deposits decreased $36.0 million to $1.13 billion at December 31, 2024, compared to $1.17 billion at September 30, 2024, and decreased $62.7 million compared to $1.19 billion at December 31, 2023. The decrease in deposits at December 31, 2024, compared to September 30, 2024, was due primarily to a $19.7 million decrease in noninterest-bearing demand deposits and a $15.5 million decrease in money market deposits. The decrease in deposits at December 31, 2024, from December 31, 2023, reflects declines in all deposit categories except for retail certificates of deposit which increased $91.8 million.

    Federal Home Loan Bank (“FHLB”) advances totaled $110.0 million at December 31, 2024, compared to $100.0 million at September 30, 2024, and $125.0 million at December 31, 2023. Of the total FHLB advances at December 31, 2024, $100.0 million were tied to cash flow hedge agreements under which the Bank pays a fixed rate and receives a variable rate in return to assist in the Bank’s interest rate risk management efforts. These cash flow hedge agreements had a weighted average remaining term of 27.8 months and a weighted average fixed interest rate of 1.93% as of December 31, 2024. The average cost of borrowings was 2.35% for the quarter ended December 31, 2024, compared to 3.19% for the quarter ended September 30, 2024, and 2.40% for the quarter ended December 31, 2023.

    The following table presents a breakdown of our total deposits (unaudited):

      Dec 31,
    2024    		   Sep 30,
    2024    		   Dec 31,
    2023    		   Three
    Month
    Change    		   One
    Year
    Change
    Deposits: (Dollars in thousands)
    Noninterest-bearing demand $ 80,772   $ 100,466   $ 100,899   $ (19,694 )   $ (20,127 )
    Interest-bearing demand   56,957     55,506     56,968     1,451       (11 )
    Savings   16,277     17,031     18,886     (754 )     (2,609 )
    Money market   480,520     495,978     529,411     (15,458 )     (48,891 )
    Certificates of deposit, retail   448,974     447,474     357,153     1,500       91,821  
    Brokered deposits   47,900     50,900     130,790     (3,000 )     (82,890 )
    Total deposits $ 1,131,400   $ 1,167,355   $ 1,194,107   $ (35,955 )   $ (62,707 )

    The following tables present an analysis of total deposits by branch office (unaudited):

    December 31, 2024
      Noninterest-
    bearing
    demand    		 Interest-
    bearing
    demand    		 Savings Money
    market    		 Certificates
    of deposit,
    retail    		 Brokered
    deposits    		 Total
      (Dollars in thousands)
    King County              
    Renton $ 26,242 $ 14,786 $ 10,197 $ 284,670 $ 309,858 $ – $ 645,753
    Landing   3,245   1,359   170   7,958   14,965   –   27,697
    Woodinville   1,738   3,168   620   8,834   11,511   –   25,871
    Bothell   2,792   930   408   1,421   6,762   –   12,313
    Crossroads   11,075   2,762   86   29,208   18,772   –   61,903
    Kent   3,766   4,873   40   18,673   8,471   –   35,823
    Kirkland   5,524   1,924   208   11,574   1,855   –   21,085
    Issaquah   1,244   238   13   2,298   6,562   –   10,355
    Total King County   55,626   30,040   11,742   364,636   378,756   –   840,800
    Snohomish County              
    Mill Creek   3,184   3,496   342   16,135   12,487   –   35,644
    Edmonds   7,316   8,542   338   16,482   13,003   –   45,681
    Clearview   4,909   5,653   1,494   17,934   13,778   –   43,768
    Lake Stevens   3,633   5,946   1,314   24,571   17,004   –   52,468
    Smokey Point   2,544   1,800   1,032   36,950   9,619   –   51,945
    Total Snohomish County   21,586   25,437   4,520   112,072   65,891   –   229,506
    Pierce County              
    University Place   1,837   54   1   2,113   2,122   –   6,127
    Gig Harbor   1,723   1,426   14   1,699   2,205   –   7,067
    Total Pierce County   3,560   1,480   15   3,812   4,327   –   13,194
                   
    Brokered deposits   –   –   –   –   –   47,900   47,900
                   
    Total deposits $ 80,772 $          56,957 $         16,277 $      480,520 $       448,974 $         47,900 $    1,131,400
    September 30, 2024
      Noninterest-
    bearing
    demand    		 Interest-
    bearing
    demand    		 Savings Money
    market    		 Certificates
    of deposit,
    retail    		 Brokered
    deposits    		 Total
      (Dollars in thousands)
    King County               
    Renton $ 29,388 $ 14,153 $ 10,654 $ 305,836 $ 315,721 $ – $ 675,752
    Landing   3,442   1,660   237   8,348   12,733   –   26,420
    Woodinville   1,968   2,234   959   8,852   11,522   –   25,535
    Bothell   2,965   1,151   401   1,536   5,918   –   11,971
    Crossroads   14,770   2,039   107   31,665   18,136   –   66,717
    Kent   5,417   10,502   44   16,053   8,562   –   40,578
    Kirkland   10,967   1,890   206   11,243   2,240   –   26,546
    Issaquah   1,186   294   18   2,547   6,580   –   10,625
    Total King County   70,103   33,923   12,626   386,080   381,412   –   884,144
    Snohomish County              
    Mill Creek   3,990   2,171   384   14,628   10,312   –   31,485
    Edmonds   9,254   6,831   330   18,549   13,281   –   48,245
    Clearview   5,587   5,242   1,462   21,206   12,251   –   45,748
    Lake Stevens   3,970   4,282   1,244   23,257   15,571   –   48,324
    Smokey Point   2,994   1,664   969   29,353   11,387   –   46,367
    Total Snohomish County   25,795   20,190   4,389   106,993   62,802   –   220,169
    Pierce County              
    University Place   2,940   53   4   1,848   1,458   –   6,303
    Gig Harbor   1,628   1,340   12   1,057   1,802   –   5,839
    Total Pierce County   4,568   1,393   16   2,905   3,260   –   12,142
                   
    Brokered deposits   –   –   –   –   –   50,900   50,900
                   
    Total deposits $ 100,466 $ 55,506 $ 17,031 $ 495,978 $ 447,474 $ 50,900 $ 1,167,355
     

    Net loans receivable totaled $1.14 billion at December 31, 2024, compared to $1.13 billion at September 30, 2024, and $1.18 billion at December 31, 2023. The increase in the current quarter compared to the quarter ended September 30, 2024, was due to growth in non-residential commercial real estate, construction/land, consumer and one-to-four family residential loans, partially offset by declines in multifamily and business lending. The average balance of net loans receivable totaled $1.13 billion for both the quarters ended December 31, 2024, and September 30, 2024, compared to $1.17 billion for the quarter ended December 31, 2023. For the year ended December 31, 2024, the average balance of net loans receivable was $1.14 billion, compared to $1.17 billion for the year ended December 31, 2023.

    The allowance for credit losses (“ACL”) represented 1.30% of total loans receivable at December 31, 2024, compared to 1.42% of total loans receivable at September 30, 2024, and 1.28% at December 31, 2023. The change in the ACL at December 31, 2024, compared to September 30, 2024, related primarily to activity on the single lending relationship discussed above.

    Nonaccrual loans totaled $842,000 at December 31, 2024, compared to $853,000 at September 30, 2024, and $220,000 at December 31, 2023. There was no other real estate owned at December 31, 2024, September 30, 2024, or December 31, 2023.

    Net interest income totaled $8.4 million for the quarter ended December 31, 2024, compared to $8.5 million for the quarter ended September 30, 2024, and $9.3 million for the quarter ended December 31, 2023. The decrease in the current quarter compared to the quarter ended September 30, 2024, was primarily due to declines in interest from earning assets, partially offset by declines in interest expense. For the year ended December 31, 2024, net interest income totaled $34.8 million, compared to $40.5 million for the year ended December 31, 2023, as total interest expense increased by $5.0 million and total interest income declined by $800,000.

    Total interest income decreased $419,000 to $19.0 million for the quarter ended December 31, 2024, compared to $19.4 million for the quarter ended September 30, 2024, and decreased $1.3 million compared to $20.3 million for the quarter ended December 31, 2023. The decrease in total interest income during the current quarter compared to the prior quarter was primarily due to a $250,000 or 29.0% decline in interest income earned on interest-earning deposits held with banks. This decline resulted from a 54 basis point decrease in the average yield earned on these deposits, coupled with a $13.6 million reduction in their average balance. Additionally, interest income on loans, including fees, declined by $146,000 or 0.9%, primarily due to a $2.5 million decrease in the average balance of loans and, to a lesser extent, a four basis point decrease in the yield earned on loans. The decrease in total interest income during the current quarter compared to the comparable quarter in 2023 was primarily due to declines in interest income on loans, including fees, of $631,000, investments of $449,000, and interest-earning deposits with banks of $267,000, partially offset by an increase in dividends on FHLB stock of $56,000.

    Yield on loans, the largest component of our interest-earning assets, declined to 5.82% during the recent quarter, compared to 5.86% and 5.83% for the quarters ended September 30, 2024, and December 31, 2023, respectively. The yield on investment securities for the current quarter was 4.29%, down slightly from 4.30% last quarter and up from 4.11% a year ago.

    Total interest expense was $10.6 million for the quarter ended December 31, 2024, down from $11.0 million for both quarters ended September 30, 2024, and December 31, 2023. The decrease from the quarter ended September 30, 2024, was due to lower interest expense related to FHLB advances and other borrowings, which declined due to a decline in the average balance of FHLB advances and other borrowings, partially offset by higher interest expense on deposits driven by an increase in the average balance of interest-bearing deposits. The decrease from the quarter ended December 31, 2023, was due to lower interest expense on deposits and FHLB advances and other borrowings, primarily as a result of lower average balances of these liabilities.

    Net interest margin was 2.50% for the quarter ended December 31, 2024, compared to 2.46% for the quarter ended September 30, 2024, and 2.54% for the quarter ended December 31, 2023. The increase in the net interest margin for the quarter ended December 31, 2024, compared to the prior quarter was primarily due to a decline in the average balance of total interest-earning assets, as net interest income was relatively unchanged during the periods. The decrease in the net interest margin for the quarter ended December 31, 2024, compared to the same quarter a year ago was primarily due to a decline in net interest income, which was partially offset by a decline in the average balance of total interest-earning assets. The net interest margin for the month of December 2024 was 2.55%.

    Noninterest income for the quarter ended December 31, 2024, totaled $658,000, down from $677,000 for the quarter ended September 30, 2024, and up from $633,000 for the quarter ended December 31, 2023. The decrease compared to the quarter ended September 30, 2024, was primarily due to lower loan and deposit related fees and BOLI income, partially offset by an increase in wealth management revenue. Noninterest income remained nearly flat at $2.8 million for both the years ended December 31, 2024, and December 31, 2023, as increases in BOLI income, wealth management revenue and loan related fees in the current year were nearly entirely offset by decreases in deposit related fees and other noninterest income.

    Noninterest expense totaled $8.9 million for the quarter ended December 31, 2024, compared to $8.5 million for the quarter ended September 30, 2024, and $8.4 million for the quarter ended December 31, 2023. The increase from the quarter ended September 30, 2024, was primarily due to a $860,000 increase in salaries and employee benefits due to 2025 merit increases implemented in December 2024, as well as year-end accruals related to incentive compensation, partially offset by decreases in nearly all other categories, most notably professional fees and other general and administrative expenses. Incentive compensation increased due to the project that modified certain loans that would have otherwise been ineligible for Global Federal Credit Union to hold on their balance sheet. The increase compared to the quarter ended December 31, 2023, was primarily due to a $644,000 increase in salaries and employee benefits and an $87,000 increase in data processing expenses, partially offset by decreases across other expense categories. Noninterest expense totaled $36.7 million for the year ended December 31, 2024, compared to $35.7 million for the year ended December 31, 2023. The year-over-year increase was primarily due to an increase in professional fees, data processing and salaries and employee benefits, partially offset by lower marketing and other general and administrative expenses and regulatory assessments.

    First Financial Northwest, Inc. is the parent company of First Financial Northwest Bank; an FDIC insured Washington State-chartered commercial bank headquartered in Renton, Washington, serving the Puget Sound Region through 15 full-service banking offices. For additional information about us, please visit our website at ffnwb.com and click on the “Investor Relations” link at the bottom of the page.

    Forward-looking statements:

    When used in this press release and in other documents filed with or furnished to the Securities and Exchange Commission (the “SEC”), in press releases or other public stockholder communications, or in oral statements made with the approval of an authorized executive officer, the words or phrases “believe,” “will,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “plans,” or similar expressions are intended to identify “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts but instead represent management’s current expectations and forecasts regarding future events many of which are inherently uncertain and outside of our control. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, assumptions and statements about, among other things, our pending transaction with Global Federal Credit Union (“Global”) whereby Global, pursuant to the definitive purchase and assumption agreement (the “P&A Agreement”), will acquire substantially all of the assets and assume substantially all of the liabilities of the Bank, expectations of the business environment in which we operate, projections of future performance or financial items, perceived opportunities in the market, potential future credit experience, and statements regarding our mission and vision. These forward-looking statements are based on current management expectations and may, therefore, involve risks and uncertainties. Actual results may differ, possibly materially from those currently expected or projected in these forward-looking statements made by, or on behalf of, us and could negatively affect our operating and stock performance. Factors that could cause our actual results to differ materially from those described in the forward-looking statements, include, but are not limited to, the following: the occurrence of any event, change or other circumstances that could give rise to the right of one or all of the parties to terminate the P&A Agreement; delays in completing the P&A Agreement; the failure to obtain necessary regulatory approvals or to satisfy any of the other conditions to the Global transaction, including the P&A Agreement, on a timely basis or at all; delays or other circumstances arising from the dissolution of the Bank and the Company following completion of the P&A Agreement; diversion of management’s attention from ongoing business operations and opportunities during the pending Global transaction; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement of the Global transaction; adverse impacts to economic conditions in our local market areas, other markets where the Company has lending relationships, or other aspects of the Company’s business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a recession or slowed economic growth; changes in the interest rate environment, including increases or decreases in the Federal Reserve benchmark rate and duration at which such interest rate levels are maintained, which could adversely affect our revenues and expenses, the value of assets and obligations, and the availability and cost of capital and liquidity; the impact of inflation and the current and future monetary policies of the Federal Reserve in response thereto; the effects of any federal government shutdown; increased competitive pressures, including repricing and competitors’ pricing initiatives, and their impact on our market position, loan, and deposit products; legislative and regulatory changes; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; disruptions, security breaches, or other adverse events, failures or interruptions in, or attacks on, our information technology systems or on the third-party vendors who perform several of our critical processing functions; effects of critical accounting policies and judgments, including the use of estimates in determining the fair value of certain of our assets, which estimates may prove to be incorrect and result in significant declines in valuation; the potential effects of new tariffs or changes to existing trade policies that could affect economic activity or specific industry sectors; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, civil unrest and other external events on our business; and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other reports filed with or furnished to the Securities and Exchange Commission – that are available on our website at www.ffnwb.com and on the SEC’s website at www.sec.gov.

    Any of the forward-looking statements that we make in this Press Release and in the other public statements are based upon management’s beliefs and assumptions at the time they are made and may turn out to be wrong because of the inaccurate assumptions we might make, because of the factors illustrated above or because of other factors that we cannot foresee. Therefore, these factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

    FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES
     Consolidated Balance Sheets
    (Dollars in thousands)
    (Unaudited)
    Assets Dec 31,
    2024    		   Sep 30,
    2024    		   Dec 31,
    2023    		   Three
    Month
    Change    		   One
    Year
    Change
                       
    Cash on hand and in banks $ 9,535     $ 8,423     $ 8,391     13.2 %   13.6 %
    Interest-earning deposits with banks   36,182       72,884       22,138     (50.4 )   63.4  
    Investments available-for-sale, at fair value   151,642       156,609       207,915     (3.2 )   (27.1 )
    Investments held-to-maturity, at amortized cost   2,468       2,462       2,456     0.2     0.5  
    Loans receivable, net of allowance of $15,066, $16,265 and $15,306, respectively   1,140,186       1,126,146       1,175,925     1.2     (3.0 )
    Federal Home Loan Bank (“FHLB”) stock, at cost   5,853       5,403       6,527     8.3     (10.3 )
    Accrued interest receivable   6,108       6,638       7,359     (8.0 )   (17.0 )
    Deferred tax assets, net   2,582       2,690       2,648     (4.0 )   (2.5 )
    Premises and equipment, net   18,166       18,584       19,667     (2.2 )   (7.6 )
    Bank owned life insurance (“BOLI”), net   38,950       38,661       37,653     0.7     3.4  
    Prepaid expenses and other assets   9,676       8,898       10,478     8.7     (7.7 )
    Right of use asset (“ROU”), net   2,357       2,473       2,617     (4.7 )   (9.9 )
    Goodwill   889       889       889     0.0     0.0  
    Core deposit intangible, net   295       326       419     (9.5 )   (29.6 )
    Total assets $ 1,424,889     $ 1,451,086     $ 1,505,082     (1.8 )   (5.3 )
                       
    Liabilities and Stockholders’ Equity                  
                       
    Deposits                  
    Noninterest-bearing deposits $ 80,772     $ 100,466     $ 100,899     (19.6 )   (19.9 )
    Interest-bearing deposits   1,050,628       1,066,889       1,093,208     (1.5 )   (3.9 )
    Total deposits   1,131,400       1,167,355       1,194,107     (3.1 )   (5.3 )
    FHLB advances   110,000       100,000       125,000     10.0     (12.0 )
    Advance payments from borrowers for taxes and insurance   2,873       5,211       2,952     (44.9 )   (2.7 )
    Lease liability, net   2,550       2,673       2,806     (4.6 )   (9.1 )
    Accrued interest payable   526       294       2,739     78.9     (80.8 )
    Other liabilities   15,985       15,340       15,818     4.2     1.1  
    Total liabilities   1,263,334       1,290,873       1,343,422     (2.1 )   (6.0 )
                       
    Commitments and contingencies                  
                       
    Stockholders’ Equity                  
    Preferred stock, $0.01 par value; authorized 10,000,000 shares; no shares issued or outstanding   –       –       –     n/a     n/a  
    Common stock, $0.01 par value; authorized 90,000,000 shares; issued and outstanding 9,230,010 shares at December 31, 2024, 9,213,969 shares at September 30, 2024, and 9,179,510 shares at December 31, 2023   93       92       92     1.1     1.1  
    Additional paid-in capital   72,823       72,916       73,035     (0.1 )   (0.3 )
    Retained earnings   94,892       93,692       96,206     1.3     (1.4 )
    Accumulated other comprehensive loss, net of tax   (6,253 )     (6,487 )     (7,673 )   (3.6 )   (18.5 )
    Total stockholders’ equity   161,555       160,213       161,660     0.8     (0.1 )
    Total liabilities and stockholders’ equity $ 1,424,889     $ 1,451,086     $ 1,505,082     (1.8 )%   (5.3 )%
     
    FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES
     Consolidated Income Statements
    (Dollars in thousands, except per share data)
    (Unaudited)
      Quarter Ended        
      Dec 31,
    2024    		   Sep 30,
    2024    		   Dec 31,
    2023    		   Three
    Month
    Change    		   One
    Year
    Change
    Interest income                  
    Loans, including fees $ 16,512     $ 16,658     $ 17,143   (0.9 )%   (3.7 )%
    Investments   1,694       1,744       2,143   (2.9 )   (21.0 )
    Interest-earning deposits with banks   613       863       880   (29.0 )   (30.3 )
    Dividends on FHLB Stock   177       150       121   18.0     46.3  
    Total interest income   18,996       19,415       20,287   (2.2 )   (6.4 )
    Interest expense                  
    Deposits   9,956       9,748       10,281   2.1     (3.2 )
    FHLB advances and other borrowings   600       1,213       731   (50.5 )   (17.9 )
    Total interest expense   10,556       10,961       11,012   (3.7 )   (4.1 )
    Net interest income   8,440       8,454       9,275   (0.2 )   (9.0 )
    (Recapture of provision) provision for credit losses   (1,250 )     1,575       –   (179.4 )   n/a  
    Net interest income after (recapture of provision) provision for credit losses   9,690       6,879       9,275   40.9     4.5  
                       
    Noninterest income                  
    BOLI income   289       295       255   (2.0 )   13.3  
    Wealth management revenue   88       42       60   109.5     46.7  
    Deposit related fees   226       236       234   (4.2 )   (3.4 )
    Loan related fees   44       96       60   (54.2 )   (26.7 )
    Other   11       8       24   37.5     (54.2 )
    Total noninterest income   658       677       633   (2.8 )   3.9  
                       
    Noninterest expense                  
    Salaries and employee benefits   5,466       4,606       4,822   18.7     13.4  
    Occupancy and equipment   1,154       1,183       1,231   (2.5 )   (6.3 )
    Professional fees   377       585       431   (35.6 )   (12.5 )
    Data processing   805       838       718   (3.9 )   12.1  
    Regulatory assessments   160       165       196   (3.0 )   (18.4 )
    Insurance and bond premiums   114       113       113   0.9     0.9  
    Marketing   24       46       70   (47.8 )   (65.7 )
    Other general and administrative   834       952       858   (12.4 )   (2.8 )
    Total noninterest expense   8,934       8,488       8,439   5.3     5.9  
    Income before federal income tax provision (benefit)   1,414       (932 )     1,469   (251.7 )   (3.7 )
    Federal income tax provision (benefit)   214       (324 )     275   (166.0 )   (22.2 )
    Net income (loss) $ 1,200     $ (608 )   $ 1,194   (297.4 )%   0.5 %
                       
    Basic earnings (loss) per share $ 0.13     $ (0.07 )   $ 0.13        
    Diluted earnings (loss) per share $ 0.13     $ (0.07 )   $ 0.13        
    Weighted average number of common shares outstanding   9,220,593       9,190,146       9,151,892        
    Weighted average number of diluted shares outstanding   9,238,565       9,190,146       9,176,724        
                                 
    FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES
     Consolidated Income Statements
    (Dollars in thousands, except per share data)
    (Unaudited)
      Year Ended December 31,    
        2024       2023     One Year
    Change
    Interest income          
    Loans, including fees $ 66,941     $ 66,938     0.0 %
    Investments   7,388       8,474     (12.8 )
    Interest-earning deposits with banks   2,444       2,261     8.1  
    Dividends on FHLB Stock   597       485     23.1  
    Total interest income   77,370       78,158     (1.0 )
    Interest expense          
    Deposits   39,117       34,407     13.7  
    FHLB advances and other borrowings   3,490       3,208     8.8  
    Total interest expense   42,607       37,615     13.3  
    Net interest income   34,763       40,543     (14.3 )
    Recapture of provision for credit losses   (50 )     (208 )   (76.0 )
    Net interest income after recapture of provision for credit losses   34,813       40,751     (14.6 )
               
    Noninterest income          
    BOLI   1,245       1,081     15.2  
    Wealth management revenue   279       253     10.3  
    Deposit accounts related fees   923       956     (3.5 )
    Loan related fees   296       275     7.6  
    Other   53       208     (74.5 )
    Total noninterest income   2,796       2,773     0.8  
               
    Noninterest expense          
    Salaries and employee benefits   20,652       20,366     1.4  
    Occupancy and equipment   4,789       4,748     0.9  
    Professional fees   3,011       2,288     31.6  
    Data processing   3,285       2,857     15.0  
    Regulatory assessments   662       763     (13.2 )
    Insurance and bond premiums   477       468     1.9  
    Marketing   179       343     (47.8 )
    Other general and administrative   3,638       3,833     (5.1 )
    Total noninterest expense   36,693       35,666     2.9  
    Income before federal income tax (benefit) provision   916       7,858     (88.3 )
    Federal income tax (benefit) provision   (156 )     1,553     (110.0 )
    Net income $ 1,072     $ 6,305     (83.0 )%
               
    Basic earnings per share $ 0.12     $ 0.69      
    Diluted earnings per share $ 0.12     $ 0.69      
    Weighted average number of common shares outstanding   9,183,900       9,126,209      
    Weighted average number of diluted shares outstanding   9,238,016       9,152,617      
                       

    The following table presents a breakdown of the loan portfolio (unaudited):

      December 31, 2024 September 30, 2024 December 31, 2023
      Amount   Percent   Amount   Percent   Amount   Percent
      (Dollars in thousands)
    Commercial real estate:                      
    Residential:                      
    Multifamily $ 126,303     10.9 %   $ 132,811     11.6 %   $ 138,149     11.6 %
    Total multifamily residential   126,303     10.9       132,811     11.6       138,149     11.6  
                           
    Non-residential:                      
    Retail   110,787     9.6       118,840     10.4       124,172     10.4  
    Office   73,306     6.3       73,778     6.5       72,778     6.1  
    Hotel / motel   72,434     6.3       54,716     4.8       63,597     5.3  
    Storage   32,229     2.8       32,443     2.8       33,033     2.8  
    Mobile home park   22,701     2.0       22,443     2.0       21,701     1.8  
    Warehouse   23,363     2.0       18,743     1.6       19,218     1.6  
    Nursing Home   9,713     0.8       11,407     1.0       11,610     1.0  
    Other non-residential   29,865     2.5       30,719     2.7       31,750     2.6  
    Total non-residential   374,398     32.3       363,089     31.8       377,859     31.6  
                           
    Construction/land:                      
    One-to-four family residential   49,674     4.3       42,846     3.8       47,149     4.0  
    Multifamily   7,884     0.7       7,227     0.6       4,004     0.3  
    Land development   9,582     0.8       10,148     0.8       9,771     0.8  
    Total construction/land   67,140     5.8       60,221     5.2       60,924     5.1  
                           
    One-to-four family residential:                      
    Permanent owner occupied   284,650     24.7       279,744     24.5       284,471     23.9  
    Permanent non-owner occupied   217,420     18.8       221,127     19.4       228,752     19.2  
    Total one-to-four family residential   502,070     43.5       500,871     43.9       513,223     43.1  
                           
    Business                      
    Aircraft   –     0.0       –     0.0       1,945     0.1  
    Small Business Administration (“SBA”)   1,729     0.2       1,745     0.2       1,794     0.3  
    Paycheck Protection Plan (“PPP”)   159     0.0       238     0.0       473     0.0  
    Other business   10,247     0.9       12,416     1.1       24,869     2.1  
    Total business   12,135     1.1       14,399     1.3       29,081     2.5  
                           
    Consumer                      
    Classic, collectible and other auto   59,580     5.2       58,085     5.1       58,618     5.0  
    Other consumer   13,626     1.2       12,935     1.1       13,377     1.1  
    Total consumer   73,206     6.4       71,020     6.2       71,995     6.1  
    Total loans   1,155,252     100.0 %     1,142,411     100.0 %     1,191,231     100.0 %
    Less:                      
    ACL   15,066           16,265           15,306      
    Loans receivable, net $ 1,140,186         $ 1,126,146         $ 1,175,925      
                           
    Concentrations of credit: (1)                      
    Construction loans as % of total capital   40.5 %         36.8 %         38.3 %      
    Total non-owner occupied commercial
    real estate as % of total capital    		   300.8 %         296.2 %         316.8 %    

    (1) Concentrations of credit percentages are for First Financial Northwest Bank only using classifications in accordance with FDIC regulatory guidelines.

    FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES
     Key Financial Measures
    (Unaudited)
      At or For the Quarter Ended
      Dec 31,   Sep 30,   Jun 30,   Mar 31,   Dec 31,
        2024       2024       2024       2024       2023  
      (Dollars in thousands, except per share data)
    Performance Ratios: (1)                  
    Return on assets   0.33 %     (0.17 )%     0.43 %     (0.29 )%     0.31 %
    Return on equity   2.96       (1.50 )     3.88       (2.67 )     2.97  
    Dividend payout ratio   0.00       0.00       76.47       (108.33 )     100.00  
    Equity-to-assets ratio   11.34       11.04       11.10       10.91       10.74  
    Tangible equity ratio (2)   11.26       10.97       11.02       10.83       10.66  
    Net interest margin   2.50       2.46       2.66       2.55       2.54  
    Average interest-earning assets to average interest-bearing liabilities   116.51       116.46       117.01       116.40       115.84  
    Efficiency ratio   98.20       92.96       82.35       116.97       85.17  
    Noninterest expense as a percent of average total assets   2.49       2.32       2.21       3.05       2.18  
    Book value per common share $ 17.50     $ 17.39     $ 17.51     $ 17.46     $ 17.61  
    Tangible book value per share (2)   17.37       17.26       17.37       17.32       17.47  
                       
    Capital Ratios: (3)                  
    Tier 1 leverage ratio   11.16 %     10.86 %     10.91 %     10.41 %     10.18 %
    Common equity tier 1 capital ratio   15.40       15.43       15.39       14.98       14.90  
    Tier 1 capital ratio   15.40       15.43       15.39       14.98       14.90  
    Total capital ratio   16.65       16.68       16.64       16.24       16.15  
                       
    Asset Quality Ratios: (4)                  
    Nonaccrual loans as a percent of total loans   0.07 %     0.07 %     0.41 %     0.02 %     0.02 %
    Nonaccrual loans as a percent of total assets   0.06       0.06       0.32       0.01       0.01  
    ACL as a percent of total loans   1.30       1.42       1.29       1.30       1.28  
    Net charge-offs to average loans receivable, net   (0.00 )     0.00       0.00       0.00       0.00  
                       
    Allowance for Credit Losses:                  
    ACL – loans                  
    Beginning balance $ 16,265     $ 14,796     $ 14,996     $ 15,306     $ 15,306  
    (Recapture of provision) provision for credit losses   (1,200 )     1,500       (200 )     (300 )     –  
    Charge-offs   –       (31 )     –       (10 )     –  
    Recoveries   1       –       –       –       –  
    Ending balance $ 15,066     $ 16,265     $ 14,796     $ 14,996     $ 15,306  
                       
    Allowance for unfunded commitments                  
    Beginning balance $ 639     $ 564     $ 564     $ 439     $ 439  
    (Recapture of provision) provision for credit losses   (50 )     75       –       125       –  
    Ending balance $ 589     $ 639     $ 564     $ 564     $ 439  
                       
    (Recapture of provision) provision for credit losses                  
    ACL – loans $ (1,200 )   $ 1,500     $ (200 )   $ (300 )   $ –  
    Allowance for unfunded commitments   (50 )     75       –       125       –  
    Total $ (1,250 )   $ 1,575     $ (200 )   $ (175 )   $ –  

    (1) Performance ratios are calculated on an annualized basis.
    (2) Non-GAAP financial measures. Refer to Non-GAAP Financial Measures at the end of this press release for a reconciliation to the nearest GAAP equivalents.
    (3) Capital ratios are for First Financial Northwest Bank only.
    (4) Loans are reported net of undisbursed funds.

    FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES
     Key Financial Measures
    (Unaudited)
      At or For the Quarter Ended
      Dec 31,   Sep 30,   Jun 30,   Mar 31,   Dec 31,
        2024       2024       2024       2024       2023  
      (Dollars in thousands)
    Yields and Costs: (1)                  
    Yield on loans   5.82 %     5.86 %     5.93 %     5.88 %     5.83 %
    Yield on investments   4.29       4.30       4.38       4.11       4.11  
    Yield on interest-earning deposits   4.73       5.27       5.25       5.28       5.32  
    Yield on FHLB stock   12.87       7.73       8.63       7.79       7.29  
    Yield on interest-earning assets   5.63 %     5.66 %     5.73 %     5.62 %     5.56 %
                       
    Cost of interest-bearing deposits   3.77 %     3.80 %     3.71 %     3.69 %     3.62 %
    Cost of borrowings   2.35       3.19       2.64       2.65       2.40  
    Cost of interest-bearing liabilities   3.64 %     3.72 %     3.59 %     3.58 %     3.50 %
                       
    Cost of total deposits (2)   3.46 %     3.47 %     3.38 %     3.38 %     3.31 %
    Cost of funds (2)   3.37       3.44       3.30       3.31       3.23  
                       
    Average Balances:                  
    Loans $ 1,129,019     $ 1,131,473     $ 1,139,017     $ 1,160,156     $ 1,167,339  
    Investments   156,975       161,232       173,102       202,106       206,837  
    Interest-earning deposits   51,518       65,149       36,959       37,032       65,680  
    FHLB stock   5,471       7,719       6,714       6,554       6,584  
    Total interest-earning assets $ 1,342,983     $ 1,365,573     $ 1,355,792     $ 1,405,848     $ 1,446,440  
                       
    Interest-bearing deposits $ 1,051,201     $ 1,021,041     $ 1,029,608     $ 1,082,168     $ 1,127,690  
    Borrowings   101,522       151,478       129,126       125,604       120,978  
    Total interest-bearing liabilities   1,152,723       1,172,519       1,158,734       1,207,772       1,248,668  
    Noninterest-bearing deposits   93,331       96,003       101,196       99,173       102,869  
    Total deposits and borrowings $ 1,246,054     $ 1,268,522     $ 1,259,930     $ 1,306,945     $ 1,351,537  
                       
    Average assets $ 1,429,788     $ 1,453,431     $ 1,446,207     $ 1,495,753     $ 1,538,955  
    Average stockholders’ equity   161,093       161,569       161,057       161,823       159,659  

    (1) Yields and costs are annualized.
    (2) Includes noninterest-bearing deposits.
    (3) Includes total borrowings and deposits (including noninterest-bearing deposits).

    FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES
     Key Financial Measures
    (Unaudited)
      At or For the Year Ended December 31,
        2024       2023       2022       2021       2020  
          (Dollars in thousands, except per share data)  
    Performance Ratios:                  
    Return on assets   0.07 %     0.41 %     0.91 %     0.86 %     0.63 %
    Return on equity   0.66       3.93       8.34       7.65       5.50  
    Dividend payout ratio   216.67       75.36       32.65       33.59       45.45  
    Equity-to-assets ratio   11.34       10.74       10.67       11.07       11.26  
    Tangible equity ratio (1)   11.26       10.66       10.58       10.97       11.15  
    Net interest margin   2.54       2.82       3.54       3.35       3.15  
    Average interest-earning assets to average interest-bearing liabilities   116.59       116.69       119.18       118.59       115.62  
    Efficiency ratio   97.69       82.34       69.04       68.32       72.39  
    Noninterest expense as a percent of average total assets   2.52       2.33       2.44       2.35       2.39  
    Book value per common share $ 17.50     $ 17.61     $ 17.57     $ 17.30     $ 16.05  
    Tangible book value per share (1)   17.37       17.47       17.41       17.13       15.88  
                       
    Capital Ratios: (2)                  
    Tier 1 leverage ratio   11.16 %     10.18 %     10.31 %     10.34 %     10.29 %
    Common equity tier 1 capital ratio   15.40       14.90       14.37       14.23       14.32  
    Tier 1 capital ratio   15.40       14.90       14.37       14.23       14.32  
    Total capital ratio   16.65       16.15       15.62       15.48       15.57  
                       
    Asset Quality Ratios: (3)                  
    Nonaccrual loans as a percent of total loans   0.07 %     0.02 %     0.02 %     0.00 %     0.19 %
    Nonaccrual loans as a percent of total assets   0.06       0.01       0.01       0.00       0.18  
    ACL as a percent of total loans   1.30       1.28       1.29       1.40       1.36  
    Net charge-offs (recoveries) to average loans receivable, net   0.00       0.00       0.00       (0.02 )     (0.00 )
                       
    ACL – loans                  
    Beginning balance $ 15,306     $ 15,227     $ 15,657     $ 15,174     $ 13,218  
    Beginning balance adjustment from adoption of Topic 326   –       500       –       –       –  
    (Recapture of provision) provision for credit losses   (200 )     (400 )     (400 )     300       1,900  
    Charge-offs   (41 )     (22 )     (37 )     –       (2 )
    Recoveries   1       1       7       183       58  
    Ending balance $ 15,066     $ 15,306     $ 15,227     $ 15,657     $ 15,174  
                       
    Allowance for unfunded commitments                  
    Beginning balance $ 439     $ 247     $ 281     $ 351     $ 428  
    Provision (recapture of provision) for credit losses   150       192       (34 )     (70 )     (77 )
    Ending balance $ 589     $ 439     $ 247     $ 281     $ 351  
                       
    (Recapture of provision) provision for credit losses                  
    ACL – loans $ (200 )   $ (400 )   $ (400 )   $ 300     $ 1,900  
    Allowance for unfunded commitments   150       192       (34 )     (70 )     (77 )
    Total $ (50 )   $ (208 )   $ (434 )   $ 230     $ 1,823  

    (1) Non-GAAP financial measures. Refer to Non-GAAP Financial Measures at the end of this press release for a reconciliation to the nearest GAAP equivalents.
    (2) Capital ratios are for First Financial Northwest Bank only.
    (3) Loans are reported net of undisbursed funds.

    FIRST FINANCIAL NORTHWEST, INC. AND SUBSIDIARIES
     Key Financial Measures
    (Unaudited)
      At or For the Year Ended December 31,
        2024       2023       2022       2021       2020  
      (Dollars in thousands)
    Yields and Costs:                  
    Yield on loans   5.87 %     5.71 %     4.69 %     4.57 %     4.69 %
    Yield on investments   4.26       3.97       2.77       1.83       2.39  
    Yield on interest-earning deposits   5.12       5.06       1.28       0.12       0.21  
    Yield on FHLB stock   9.03       7.07       5.08       5.29       4.85  
    Yield on interest-earning assets   5.66 %     5.44 %     4.33 %     4.01 %     4.36 %
                       
    Cost of deposits   3.74 %     3.12 %     0.87 %     0.71 %     1.42 %
    Cost of borrowings   2.75       2.52       1.70       1.39       1.31  
    Cost of interest-bearing liabilities   3.63 %     3.05 %     0.95 %     0.78 %     1.41 %
                       
    Cost of interest-bearing deposits   3.42 %     2.83 %     0.77 %     0.64 %     1.32 %
    Cost of funds   3.35       2.80       0.86       0.71       1.32  
                       
    Average Balances:                  
    Loans $ 1,139,864     $ 1,172,569     $ 1,128,835     $ 1,098,772     $ 1,120,889  
    Investments   173,276       213,261       203,165       176,110       133,584  
    Interest-earning deposits   47,723       44,684       30,176       60,482       25,108  
    FHLB stock   6,614       6,857       6,256       6,271       6,600  
    Total interest-earning assets $ 1,367,477     $ 1,437,371     $ 1,368,432     $ 1,341,635     $ 1,286,181  
                       
    Interest-bearing deposits $ 1,045,950     $ 1,104,510     $ 1,034,351     $ 1,015,852     $ 987,069  
    Borrowings   126,931       127,263       113,890       115,466       125,392  
    Total interest-bearing liabilities   1,172,881       1,231,773       1,148,241       1,131,318       1,112,461  
    Noninterest-bearing deposits   97,411       109,795       125,166       112,484       75,388  
    Total deposits and borrowings $ 1,270,292     $ 1,341,568     $ 1,273,407     $ 1,243,802     $ 1,187,849  
                       
    Average assets $ 1,456,215     $ 1,529,511     $ 1,455,739     $ 1,421,476     $ 1,361,604  
    Average stockholders’ equity   161,385       160,428       158,685       160,041       155,587  

    Non-GAAP Financial Measures

    In addition to financial results presented in accordance with generally accepted accounting principles (“GAAP”) utilized in the United States, this earnings release contains non-GAAP financial measures that include tangible equity, tangible assets, tangible book value per share, and the tangible equity-to-assets ratio. The Company believes that these non-GAAP financial measures and ratios as presented are useful for both investors and management to understand the effects of goodwill and core deposit intangible, net and provides an alternative view of the Company’s performance over time and in comparison to the Company’s competitors. Non-GAAP financial measures have limitations, are not required to be uniformly applied and are not audited. They should not be considered in isolation and are not a substitute for other measures in this earnings release that are presented in accordance with GAAP. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.

    The following tables provide a reconciliation between the GAAP and non-GAAP measures:

      Quarter Ended
        Dec 31,
    2024    		       Sep 30,
    2024    		       Jun 30,
    2024    		       Mar 31,
    2024    		       Dec 31,
    2023    		  
      (Dollars in thousands, except per share data)
    Tangible equity to tangible assets and tangible book value per share:  
    Total stockholders’ equity (GAAP) $ 161,555     $ 160,213     $ 160,693     $ 160,183     $ 161,660  
    Less:                  
    Goodwill   889       889       889       889       889  
    Core deposit intangible, net   295       326       357       388       419  
    Tangible equity (Non-GAAP) $ 160,371     $ 158,998     $ 159,447     $ 158,906     $ 160,352  
                       
    Total assets (GAAP) $ 1,424,889     $ 1,451,086     $ 1,447,753     $ 1,468,350     $ 1,505,082  
    Less:                  
    Goodwill   889       889       889       889       889  
    Core deposit intangible, net   295       326       357       388       419  
    Tangible assets (Non-GAAP) $ 1,423,705     $ 1,449,871     $ 1,446,507     $ 1,467,073     $ 1,503,774  
                       
    Common shares outstanding at period end   9,230,010       9,213,969       9,179,825       9,174,425       9,179,510  
                       
    Equity-to-assets ratio (GAAP)   11.34 %     11.04 %     11.10 %     10.91 %     10.74 %
    Tangible equity-to-tangible assets ratio (Non-GAAP)   11.26       10.97       11.02       10.83       10.66  
    Book value per common share (GAAP) $ 17.50     $ 17.39     $ 17.51     $ 17.46     $ 17.61  
    Tangible book value per share (Non-GAAP)   17.37       17.26       17.37       17.32       17.47  
                                           
    Non-GAAP Financial Measures (continued)
     
      Year Ended December 31,
        2024       2023       2022       2021       2020  
      (Dollars in thousands, except per share data)
    Tangible equity to tangible assets and tangible book value per share:
    Total stockholders’ equity (GAAP) $ 161,555     $ 161,660     $ 160,360     $ 157,879     $ 156,302  
    Less:                  
    Goodwill   889       889       889       889       889  
    Core deposit intangible   295       419       548       684       824  
    Tangible equity (Non-GAAP) $ 160,371     $ 160,352     $ 158,923     $ 156,306     $ 154,589  
                       
    Total assets (GAAP)   1,424,889       1,505,082       1,502,916       1,426,329       1,387,669  
    Less:                  
    Goodwill   889       889       889       889       889  
        295       419       548       684       824  
    Tangible assets (Non-GAAP) $ 1,423,705     $ 1,503,774     $ 1,501,479     $ 1,424,756     $ 1,385,956  
                       
    Common shares outstanding at period end   9,230,010       9,179,510       9,127,595       9,125,759       9,736,875  
                       
    Equity-to-assets ratio (GAAP)   11.34 %     10.74 %     10.67 %     11.07 %     11.26 %
    Tangible equity ratio (Non-GAAP)   11.26       10.66       10.58       10.97       11.15  
    Book value per common share (GAAP) $ 17.50     $ 17.61     $ 17.57     $ 17.30     $ 16.05  
    Tangible book value per share (Non-GAAP)   17.37       17.47       17.41       17.13       15.88  

    For more information, contact:
    Joseph W. Kiley III, President and Chief Executive Officer
    Rich Jacobson, Executive Vice President and Chief Financial Officer
    (425) 255-4400

    The MIL Network –

  • MIL-OSI: E Ink and Cream Guitars Debuted World’s First Color-Changing Guitar

    Source: GlobeNewswire (MIL-OSI)

    BILLERICA, Mass., Jan. 28, 2025 (GLOBE NEWSWIRE) — E Ink (8069.TW) the originator, pioneer, and global commercial leader in ePaper technology, announced its collaboration with Cream Guitars that features the world’s first color-changing guitars. Cream Guitars integrated E Ink Prism 3 ePaper into the Voltage DaVinci design and showcased the latest models at NAMM 2025.

    True tastemakers, Cream Guitars is challenging legacy manufacturers by adopting cutting-edge technology that not only inspires artists and onlookers but also pushes the boundaries of personalization and customization. The E Ink wrapped guitars feature seven colors and enables players to express themselves in unique ways.

    “We had the idea to break all the rules of the traditional guitar,” said Luis Ortiz, CEO, Cream Guitars. “We’ve redesigned every part of an electric guitar to broaden and enhance the playing experience. Through our innovative collaboration with E Ink, we are providing artists a level of creativity that extends well beyond anything available in today’s market.”

    E Ink Prism 3 bridges the gap between traditional static materials and digital technology with dynamically changing materials. The Prism 3 technology is known for its low power consumption, durability, and color-changing capabilities, and is disrupting industries, including automobile, fashion, architecture, and now, music.

    “Cream Guitars is at the forefront of instrument design, and this collaboration marks a significant milestone in their commitment to pushing the boundaries of what is possible,” said Pete Valianatos, Senior Director of Strategic Initiatives, E Ink. “We are proud to work with them to create an instrument that not only sounds great but makes a visual statement as powerful as their music.”

    Beyond the color-changing capabilities, E Ink’s technology is ultra-low power and is an energy-efficient alternative to other display technologies available. E Ink’s ePaper technology has been designated as a contributor to environmental progress by offering efficient and low-carbon displays. E Ink’s commitment to sustainability goes beyond the technology with nearly 60% of its global operations powered by renewable energy and aims to reach 65% renewable energy usage by next year. E Ink is so efficient, the company was included in the Dow Jones Sustainability World and Emerging Markets Indices for the third consecutive year.

    Similarly, Cream Guitars also has a strong commitment to the environment. The company strives to ensure that the woods used in production are 100% renewable and focuses on minimizing waste at every step of the manufacturing process. This ensures that their guitars make a minimal environmental impact, while maintaining their high-quality standards.

    About E Ink
    E Ink Holdings Inc. (8069.TWO), based on technology from MIT’s Media Lab, provides an ideal display medium for applications spanning eReaders and eNotes, retail, home, hospital, transportation, logistics, and more, enabling customers to put displays in locations previously impossible. E Ink’s electrophoretic display products make it the worldwide leader for ePaper. Its low power displays enable customers to reach their sustainability goals, and E Ink has pledged using 100% renewable energy in 2030 and reaching net zero carbon emissions by 2040. E Ink has been recognized for their efforts by receiving, validation from Science-Based Targets (SBTi) and is listed in both the DJSI World and DJSI Emerging Indexes. Listed in Taiwan’s Taipei Exchange (TPEx) and the Luxembourg market, E Ink Holdings is now the world’s largest supplier of ePaper displays. For more information please visit www.eink.com. E Ink. We Make Surfaces Smart and Green.

    Contact:
    V2 Communications on behalf of E Ink
    eink@v2comms.com

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/e9ae74a8-6453-4337-a161-760143463043
    https://www.globenewswire.com/NewsRoom/AttachmentNg/da17054c-b8dc-426d-9e83-6bd25e588244

    The MIL Network –

  • MIL-OSI: authID Launches PrivacyKey™, Embedding Groundbreaking Privacy and Compliance in Its Biometric Identity Authentication Platform

    Source: GlobeNewswire (MIL-OSI)

    The unmatched speed and accuracy of authID’s Proof and Verified identity authentication solutions now provide enterprises with care-free compliance that eliminates the issues and risks associated with biometric data storage.

    DENVER, Jan. 28, 2025 (GLOBE NEWSWIRE) — authID®  (Nasdaq: AUID) (“authID”), a leading provider of biometric identity verification and authentication solutions, today announced the release of PrivacyKey™, a first-of-its-kind solution for protecting user biometric data while also avoiding all the compliance issues and risks related to biometric information storage. With the addition of PrivacyKey, authID serves as the ideal partner for organizations that previously delayed or avoided implementation of biometric solutions due to concerns over liability or potential user apprehension regarding privacy. This technology also prevents duplicate registrations without storing actual images of users’ faces.

    authID’s Proof™ solution for onboarding users captures images of physical identification documents and faces, validates both for liveness and authenticity, then matches up the facial images for positive identification, all with market-leading speed and accuracy. Historically, authID has retained an encrypted hash of the calculus of each face for subsequent authentication through its Verified™ solution. With PrivacyKey, available with authID’s Proof and Verified platform Version 4.0, authID stores no biometric data whatsoever, thereby ensuring user privacy and regulatory compliance while providing authID customers absolute confidence in the security measures they implement to authenticate and verify identities.

    PrivacyKey also features critical key-management capabilities that ensure the highest level of user protection and privacy. Enterprises using the platform can rotate and revoke keys with ease, ensuring the keys are accessible only to those who are authorized to access them. This offers authID customers a level of security no other biometric authentication solution can offer.

    “We’ve never stored any biometric data that could be reverse-engineered into a face. Today we’re innovating even further to satisfy even the most stringent compliance concerns,” explained Rhon Daguro, CEO of authID. “By leveraging technology that retains no biometric artifact whatsoever, authID provides secure verification that enterprises can trust, all at 700ms processing speeds and with one-in-one billion false-match accuracy. Companies that use authID will have cutting-edge security and data privacy compliance because PrivacyKey™ eliminates biometric data storage.”

    While biometric authentication usage is on the rise, fears of any collected biometric data being vulnerable to theft or misuse persist as the primary barrier to adoption. This leads to consumers and even employees opting out of participating in biometric systems, regardless of guarantees that their data is safe from breaches or resale. An increasing number of states and countries are also enacting laws limiting or even banning biometric data retention, meaning companies incur additional legal burdens. With the addition of PrivacyKey™, authID provides assurance to users as well as their organizations, and broadens the market for its best-in-class biometric platform.

    “Identity verification products based on personally-identifiable information are always vulnerable to data breaches, but authID’s platform subtracts that risk, allowing businesses to leverage biometric signals that can’t be breached and can’t be phished,” said Erick Soto, authID Chief Product Officer. “At time of identity proofing and onboarding, we utilize the facial biometric to create a public and private key pair. We immediately destroy the private key, and store only the public key. Each time that an onboarded user authenticates with their face, we recreate the private key, which is then matched to the public key with an encrypted message for verification. And during a search, even the keys are only matched within their organization’s ecosystem, not the universe.”

    “With PrivacyKey™, users don’t have to worry about their facial biometrics being at risk in our cloud, and our customers avoid compliance risks, since there’s nothing to steal,” added Daguro. “We provide the ultimate in data privacy protection.”

    For more information and a video demonstration of PrivacyKey, click here. For additional information, visit https://authid.ai/   

    About authID
    authID® (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented, biometric identity platform. authID quickly and accurately verifies a user’s identity and eliminates any assumption of ‘who’ is behind a device to prevent cybercriminals from compromising account openings or taking over accounts. Combining secure digital onboarding, biometric authentication, and account recovery with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, eliminates password risks and costs, and provides the fastest, frictionless, and the more accurate user identity experience demanded by today’s digital ecosystem. Contact us to discover how authID can help your organization secure your workforce or consumer applications against identity fraud, cyberattacks and account takeover.

    Media Contacts
    Walter Fowler
    1-631-334-3864
    wfowler@nexttechcomms.com

    Investor Relations Contacts

    Gateway Group, Inc.
    Cody Slach and Alex Thompson
    1-949-574-3860
    AUID@gateway-grp.com
    Investor-Relations@authid.ai

    The MIL Network –

  • MIL-OSI United Kingdom: Mayor delighted to launch Feel the Beat: An Afro-Inspired Bank Holiday Celebration

    Source: Northern Ireland – City of Derry

    Mayor delighted to launch Feel the Beat: An Afro-Inspired Bank Holiday Celebration

    28 January 2025

    The amazing sound and incredible energy of Afrobeats is set to vibrate around St Columb’s Hall at a special fundraising night planned by the Mayor of Derry City and Strabane District Council for Spring this year.

    Feel the Beat: An Afro-Inspired Bank Holiday Celebration will feature top DJs Renzo Rose, DJ Rob and DJ Lui who will play a mix of Afrobeats, amapiano, dancehall, hip-hop, R’n’B and commercial music guaranteed to have you on the dancefloor all night long.  

    Revealing her plans for Feel the Beat, which will take place on 25th May 2025, Mayor Lilian Seenoi Barr said: “I am so excited to bring this night of Afrobeats to St Columb’s Hall. I would encourage everyone to come along and enjoy a night of incredible energy and top tunes. It doesn’t matter if you’ve never been to an Afrobeats event before, if you love music you’ll love this night.”

    The event is planned as a fundraiser for the Bud Club, the charity the Mayor has chosen to support during her year in office. BUD is an inclusive provision for young people with disabilities and specific/complex needs.

    Tickets are now on sale and the Mayor is encouraging people to get theirs early to avoid disappointment. She explained: “This night is perfect for anyone who loves energetic music and would enjoy a night full of friendship and positivity. And remember, by buying a ticket you will also be supporting the awesome Bud Club and all the work that they do.  This is all possible because of the sponsorship support given by the Garvan O’Doherty group.

    “So get your tickets now and get ready to dance like you have never danced before at Feel the Beat in St Columb’s Hall. I can’t wait to see you all on the dancefloor.”

    Tickets for the Feel the Beat: An Afro-Inspired Bank Holiday Celebration are now on sale and can be purchased at https://AfroBeatCelebration.eventbrite.co.uk

    MIL OSI United Kingdom –

  • MIL-Evening Report: ‘Turn it into a retirement village’: Inside the war of words over Eden Park

    After lengthy, torrid and emotional debate a critical decision for the future of Auckland Tāmaki Makaurau is being made in March. One party will celebrate; the other will slink back to the drawing board. But will it really settle the great Auckland stadium debate?

    SPECIAL REPORT: By Chris Schulz

    It resembles a building from Blade Runner. It looks like somewhere the Avengers might assemble. It is, believes Paul Nisbet, the future.

    “It’s innovative, it’s groundbreaking, it’s something different,” says the driving force behind Te Tōangaroa, a new stadium mooted for downtown Auckland.

    He has spent 13 years dreaming up this moon shot, and it shows. “We have an opportunity here to deliver something special for the country.”

    Located behind Spark Arena, Te Tōangaroa — also called “Quay Park” — is Nisbet’s big gamble, the stadium he believes Tāmaki Makaurau needs to sustain the city’s live sport and entertainment demands for the next 100 years.

    His is a concept as grand as it gets, a U-shaped dream with winged rooftops that will sweep around fans sitting in the stands, each getting unimpeded views out over the Waitematā Harbour and Rangitoto Island.

    Located behind Spark Arena, Te Tōangaroa is also called “Quay Park”. Image: Te Tōangaroa

    Nisbet calls his vision a “gateway for the world,” a structure so grand he believes it would attract the biggest sports teams, stars and sponsors to Aotearoa while offering visitors a must-see tourist destination. Nestled alongside residential areas, commercial zones and an All Blacks-themed hotel, designs show a retractable roof protecting 55,000 punters from the elements and a sky turret towering over neighbouring buildings.

    He’s gone all in on this. Nisbet’s quit his job, assembled a consortium of experts — called Cenfield MXD — and attracted financial backers to turn his vision into a reality. It is, Nisbet believes, the culmination of his 30-year career working in major stadiums, including 11 years as director of Auckland Stadiums.

    “I’ve had the chance to travel extensively,” he says. “I’ve been to over 50 stadiums around the world.”

    Tāmaki Makaurau, he says, needs Te Tōangaroa — urgently. If approved, it will be built over an ageing commercial space and an unused railway yard sitting behind Spark Arena, what Nisbet calls “a dirty old brownfields location that’s sapping the economic viability out of the city”.

    He calls it a “regeneration” project. “You couldn’t mistake you’re in Auckland, or New Zealand, when you see images of it,” he says.

    The All Blacks are on board, says Nisbet, and they want Te Tōangaroa built by 2029 in time for a Lions tour. (The All Blacks didn’t respond to a request for comment, but former players John Kirwan and Sean Fitzpatrick have backed the team moving to Te Tōangaroa.)

    Concert promoters are on board too, says Nisbet. He believes Te Tōangaroa would end the Taylor Swift debacle that’s seen her and many major acts skip us in favour of touring Australian stadiums.

    “It will be one of those special places that international acts just have to play,” he says.

    The problem? Nisbet’s made a gamble that may not pay off. In March, a decision is due to be made about the city’s stadium future. Building Te Tōangaroa, with an estimated construction time of six years and a budget of $1 billion, is just one option.

    The other, Eden Park, has 125 years of history, a long-standing All Blacks record and a huge number of supporters behind it — as well as a CEO willing to do anything to win.

    The stadium standing in Te Tōangaroa’s way
     Stand in Eden Park’s foyer for a few minutes and history will smack you in the face. It’s there in the photos framed on the wall from a 1937 All Blacks test match. It’s sitting in Anton Oliver’s rugby boots from 2001, presumably fumigated and placed inside a glass case.

    More recent history is on display too, with floor-to-ceiling photographs showing off concerts headlined by by Ed Sheeran and Six60, a pivot only possible since 2021.

    Soon, the man in charge of all of this arrives. “Very few people have seen this space,” says Nick Sautner, the Eden Park CEO who shakes my hand, pulls me down a hallway and invites me into a secret room in the bowels of Eden Park. With gleaming wood panels, leather couches and top-shelf liquor, Sautner’s proud of his hidden bar.

    “It’s invite-only . . . a VIP experience,” says Sautner, whose Australian accent remains easily identifiable despite seven years at the helm of Eden Park.

    The future of Eden Park if a refurb is granted. Image: YouTube

    This bar, he says, is just one of the many innovations Eden Park has undertaken in recent years. Built in 1900, the Mt Eden stadium remains the home of the All Blacks — but Eden Park is no longer considered a specialty sports venue.

    Up to 70 percent of the stadium’s revenue now comes from non-sporting activities, Sautner confirms. You can golf, abseil onto the rooftops and stay the night in dedicated glamping venues. It’s also become promoters’ choice for major concerts, with Coldplay and Luke Combs recently hosting multiple shows there. “We will consider any innovation you can imagine,” Sautner tells me. “We’re a blank canvas.”

    Throughout our interview, Sautner refers to Eden Park as the “national stadium”. He’s upbeat and on form, rattling off statistics and renovations from memory. His social media feeds — especially LinkedIn — are full of posts promoting the stadium’s achievements. He’ll pick up the phone to anyone who will talk to him.

    “Whatsapp is the best way of contacting me,” he says. Residents have his number and can call directly with complaints. After our interview, Sautner passes me his business card then follows it up with an email making sure I have everything I need. “My phone’s always on,” he assures me.

    He may not admit it, but Sautner’s doing all of this in an attempt to get ahead of what’s shaping up as the biggest crisis of Eden Park’s 125 years. If Te Tōangaroa is chosen in March, Eden Park — as well as Albany’s North Harbour Stadium and Onehunga’s Go Media Stadium – will all take a back seat.

    If Eden Park loses the All Blacks and their 31-year unbeaten record, then there’s no other word for it: the threat is existential.

    Called Eden Park 2.1, Sautner is promoting a three-stage renovation plan. Image: YouTube

    Ask Sautner if he’s losing sleep over his stadium’s future and he shakes his head. To him, Te Tōangaroa’s numbers don’t stack up. “If someone can make the business model work for an alternative stadium in Auckland, I’m all for activating the waterfront,” he says.

    Then he poses a series of questions: “How many events a year would a downtown stadium hold? Forty-five?” he asks. “So 320 other days a year, what’s going to be in that stadium?”

    He is, of course, biased. But Sautner believes upgrading Eden Park is the right move. Called Eden Park 2.1, Sautner is promoting a three-stage renovation plan that includes building a $100 million retractable rooftop. A new North Stand would lift Eden Park’s capacity to 70,000, and improved function facilities and a pedestrian bridge would turn the venue into “a fortress . . . capable of hosting every event”.

    He’s veering into corporate speak, but Sautner sees the vision clearly. With his annual concert consent recently raised from six to 12 shows, he already thinks he’s got it in the bag, “Eden Park has the land, it has the consent, it has the community, it has the infrastructure,” he says. “I’m very confident Eden Park is going to be here for another 100 years.”

    Instead of a drink, Sautner offers RNZ a personal stadium tour that takes us through the exact same doors that open when the All Blacks emerge onto the hallowed turf. There, blinking in the sunlight, Sautner sweeps his arms around the stadium and grins. “I get up every day and I think of my family,” he says. “Then I think, ‘How can I make Eden Park better?”

    The stadium debate: ‘It began when the dinosaurs died out’
     It is, says Shane Henderson, an argument for the ages. It never seems to quit. How long have Aucklanders been feuding about stadiums? “It began when the dinosaurs died out,” jokes Henderson.

    For the past year, he’s been chairing a working group that will make the decision on Auckland’s stadium future. That group whittled four options down to the current two, eliminating a sunken waterfront stadium, and another based in Silo Park.

    He’s doing this because Wayne Brown asked him to. “The mayor said, ‘We need to say to the public, ‘This is our preferred option for a stadium for the city.’” It’s taken over Henderson’s life. Every summer barbecue has turned into a forum for people to share their views.

    “People say, “Why don’t you do this?’” he says. Henderson won’t be drawn on which way he’s leaning ahead of March’s decision, but he’s well aware of the stakes. “We’re talking about the future of our city for generations to come,” he says. “It’s natural feelings are going to run high.”

    That’s true. As I researched this story, the main parties engaged in a back-and-forth discussion that became increasingly heated. Jim Doyle, from Te Tōangaroa’s Cenfield MXD team, described Eden Park’s situation as desperate.

    “Eden Park can’t fund itself . . . it’s got no money, it’s costing ratepayers,” he said. Doyle alleged the stadium “wouldn’t be fit for purpose”. “You’re going to have to spend probably close to $1 billion to upgrade it.” Asked what should happen to Eden Park should the decision go Te Tōangaroa’s way, Doyle shrugged his shoulders. “Turn it into a retirement village.”

    Eden Park’s Sautner immediately struck back. Yes, he admits Eden Park owes $40 million to Auckland Council, calling that debt a “legacy left over from the Rugby World Cup 2011”. But he denied most of the consortium’s claims.

    “Eden Park does not receive any funding or subsidies from Auckland ratepayers,” Sautner said in a written statement. He confirmed renovations had already begun. “Over the past three years, the Trust has invested more than $30 million to enhance infrastructure and upgrade facilities . . . creating flexible spaces to meet evolving market demands.”

    Sautner said Doyle’s statement was evidence of his team’s inexperience. “We are extremely disappointed that comments of this nature have been made,” he said. “They are factually incorrect and highlight Quay Park consortium’s lack of understanding of stadium economics.”

    Do we even need to do this?
     As the stadium debate turns into a showdown, major stars continue to skip Aotearoa in favour of huge Australian shows, with Katy Perry, Kylie Minogue and Oasis all giving us a miss this year. New Zealand music fans are reluctantly spending large sums on flights and accommodation if they want to see them. Until Metallica arrives in November, there are no stadium shows booked; just three of Eden Park’s 12 allotted concert slots are taken this year.

    Yet, Auckland City councillors will soon study feasibility reports being submitted by both stadium options.

    On March 24, Henderson, the working group chair, says councillors will come together to “thrash it out” and vote for their preferred option. There will only be one winner, and The New Zealand Herald reports either building Te Tōangaroa or Eden Park 2.1 is likely to cost more than $1 billion. Either we’re spending that on a brand new waterfront stadium, or we’re upgrading an old one.

    “Is that the best use of that money?” asks David Benge. The managing director for events company TEG Live doesn’t believe Tāmaki Makaurau needs another stadium because it’s barely using those it already has. He has questions.

    “I understand the excitement around a shiny new toy, but to what end?” he asks. “Can Auckland sustain a show at Go Media Stadium, a show at Western Springs, a show at Eden Park, and a show at this new stadium on the same night — or even in the same week?”

    Benge doesn’t believe Te Tōangaroa would entice more artists to play here either. “I’m yet to meet an artist who’s going to be swayed by how iconic a venue is,” he says. Bigger problems include the size of our population and the strength of our dollar.

    No matter the venue, “you’re still incurring the same expenses to produce the show,” he says. Instead, he suggests Pōneke as the next city needing a new venue. “If you could wave a magic wand and invest in a 10,000-12,000-capacity indoor arena in Wellington, that would be fantastic,” he says.

    Would a new stadium really lure big artists to NZ? Image: Te Tōangaroa

    Live Nation, the touring juggernaut that hosts most of the country’s stadium shows, didn’t respond to a request for comment. Other promoters canvassed by RNZ offered mixed views. Some wanted a new stadium, while others wanted a refurbished one. Every single one of them said that any new stadium needed to be built with concerts — not sport — in mind.

    “We’re fitting a square peg in a round hole,” one said about the production costs involved in trucking temporary stages into Eden Park or Go Media Stadium. “Turf replacement can add hundreds of thousands — if not $1 million — to your bottom line,” said another.

    Some wanted something else entirely. Veteran promoter Campbell Smith pointed out Auckland Council is seeking input for a potential redevelopment of Western Springs. One mooted option is turning it into a home ground for the rapidly rising football club Auckland FC. Smith doesn’t agree with that. “I think it’s a really attractive option for music and festivals,” he says. “It’s got a large footprint, it’s easily accessible, it’s close to the city … It would be a travesty if it was developed entirely for sport.”

    One thing is for certain: a decision on this lengthy, torrid and emotional topic is being made in March. One party will celebrate; the other will slink back to the drawing board. Will it finally end the great Auckland stadium debate? That’s a question that seems easier to answer than any of the others.

    Chris Schulz is a freelance entertainment journalist and author of the industry newsletter, Boiler Room. This article was first published by RNZ and is republished with the author’s permission. Asia Pacific Report has a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: HomeTrust Announces the Sale of Knoxville Branches to Apex Bank

    Source: GlobeNewswire (MIL-OSI)

    ASHEVILLE, N.C. and CAMDEN, Tenn., Jan. 28, 2025 (GLOBE NEWSWIRE) — HomeTrust Bancshares, Inc. (NASDAQ: HTBI) (“Company”), the holding company of HomeTrust Bank (“HomeTrust”), and Apex Bank (“Apex”) today announced that HomeTrust and Apex have entered into a definitive purchase and assumption agreement (the “agreement”) under which Apex will acquire HomeTrust’s two branches in Knoxville, Tennessee. Under the terms of the agreement, Apex will acquire the physical locations, related fixed assets, and substantially all the customer deposit accounts which are currently estimated at $42 million. HomeTrust will retain the loan accounts associated with the branches.

    “This transaction aligns with our strategic plan to tighten our geographic footprint, improve our branch efficiencies, and allocate our capital to support our long-term growth in other core markets,” said Hunter Westbrook, HomeTrust’s President and Chief Executive Officer.

    Matt Daniels, President and CEO of Apex Bank said, “Being locally owned and operated, we are excited to expand our footprint in Knoxville. This investment will allow us to better serve customers and support the community. We will continue to look for opportunities to expand our presence in the area and remain committed to providing personalized financial solutions that help individuals and businesses thrive.”

    The proposed transaction, which is subject to customary closing conditions, including approval by applicable regulatory authorities, is currently anticipated to close in the second quarter of 2025.

    Piper Sandler & Co. served as HomeTrust’s financial advisor for the transaction, while Silver, Freedman Taff & Tiernan LLP provided legal counsel. Baker Donelson provided legal counsel for Apex.

    About HomeTrust Bancshares, Inc.
    HomeTrust Bancshares, Inc. is the holding company for HomeTrust Bank. As of December 31, 2024, the Company had assets of $4.6 billion. The Bank, founded in 1926, is a North Carolina state chartered, community-focused financial institution committed to providing value added relationship banking with over 30 locations as well as online/mobile channels. Locations include: North Carolina (the Asheville metropolitan area, the “Piedmont” region, Charlotte, and Raleigh/Cary), South Carolina (Greenville and Charleston), East Tennessee (Kingsport/Johnson City, Knoxville, and Morristown), Southwest Virginia (Roanoke Valley) and Georgia (Greater Atlanta).

    About Apex Bank
    Apex Bank was founded in 1931 and is headquartered in Knoxville, Tennessee. Apex Bank has experienced tremendous growth since 2008, increasing total assets from $157 million to over $1.35 billion in 2025. The bank currently has 20 retail locations and a Knoxville-based national mortgage servicing center. Apex Bank has consistently been ranked as one of the best-performing community banks in the nation for the past 16 years, including the award of Tennessee’s Top Community Bank from Independent Community Bankers of America and other leading rankings in the financial industry.

    Forward-Looking Statements
    This press release may include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact, but instead are based on certain assumptions including statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, assumptions and statements about future economic performance and projections of financial items. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated or implied by forward-looking statements. The factors that could result in material differentiation include, but are not limited to, the impact of bank failures or adverse developments involving other banks and related negative press about the banking industry in general on investor and depositor sentiment; the remaining effects of the COVID-19 pandemic on general economic and financial market conditions and on public health, both nationally and in the Company’s market areas; natural disasters, including the effects of Hurricane Helene; expected revenues, cost savings, synergies and other benefits from merger and acquisition activities might not be realized to the extent anticipated, within the anticipated time frames, or at all, costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected, and goodwill impairment charges might be incurred; increased competitive pressures among financial services companies; changes in the interest rate environment; changes in general economic conditions, both nationally and in our market areas; legislative and regulatory changes; and the effects of inflation, a potential recession, and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other documents filed with or furnished to the Securities and Exchange Commission – which are available on the Company’s website at www.htb.com and on the SEC’s website at www.sec.gov. Any of the forward-looking statements that the Company makes in this press release or in the documents the Company files with or furnishes to the SEC are based upon management’s beliefs and assumptions at the time they are made and may turn out to be wrong because of inaccurate assumptions, the factors described above or other factors that management cannot foresee. The Company does not undertake, and specifically disclaims any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

    www.htb.com
    www.apexbank.com

    The MIL Network –

  • MIL-OSI: Dave Cantin Group Positions for Growth in 2025 with New Leadership Appointments and Promotions

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Jan. 28, 2025 (GLOBE NEWSWIRE) — Dave Cantin Group (DCG), a leading mergers and acquisitions advisory company to retail automotive groups and their owners, has announced several strategic leadership advancements and new hires to support its growth in 2025 being fueled by an accelerating M&A environment as part of its ambitious growth strategy for 2025.

    The industry’s largest and most experienced executive leadership team realigns roles in preparation for a milestone year. Brian Traugott has been promoted to Chief of Staff to President and CEO Dave Cantin and Chief Business and Strategy Officer Brian Gordon. Other executive appointments included Tony Karabon as Executive Vice President, Head of Acquisition Management, and Stephen Jones as Executive Vice President, Head of Acquisition Strategy.

    Within the DCG central support team, Brandon Werley has been promoted to Vice President of M&A Advisory Services, bolstering DCG’s client service group, which utilizes the company’s proprietary AI tool, Jump IQ. Denise Salzstein has moved to Director of CRM, and Cameron Markeson to Associate, Business Analysis. The company also welcomed Zach Orr as Marketing Coordinator.

    All these moves follow a robust year in 2024 for DCG and foreshadow what is shaping up to be the company’s busiest year in history in 2025. “The number of large, quality deals we already have scheduled for closing in the first half of 2025, combined with the current level of client activity indicated that we needed to staff up across the organization to meet our clients’ needs,” said Dave Cantin, President and CEO of Dave Cantin Group. “We’re excited to see our team growing and to maximize the exceptional talent of our Executive Leadership Team, delivering unparalleled service, innovation, and results for our clients.”

    About Dave Cantin Group

    The Dave Cantin Group is a leading automotive M&A advisory company specializing in acquisitions, divestitures, intelligence, and other advisory services. The company is the M&A services provider of choice for North America’s top automotive dealership groups, advising on approximately 40 transactions annually, DCG is differentiated by its advisory approach, long term lens on client relationships, and commitment to market intelligence tools that inform DCG and client strategies. In 2023, DCG became the only retail automotive M&A company with a significant strategic investor, welcoming Kaltroco to the DCG family.

    Through its M&A intelligence division, DCG produces automotive content and delivers relevant, timely marketing intelligence, including the automotive industry Market Outlook Report (MOR). Together with CBT News, DCG produces the Inside M&A studio show and podcast to share stories, news and trends impacting the retail automotive industry. DCG’s proprietary AI-enabled software, Jump IQ, anchors its advisory services that support retail automotive dealers in developing informed M&A strategies and making smarter M&A decisions.

    The company’s nonprofit initiative, DCG Giving, funds child and adolescent cancer research and treatment in communities nationwide and other worthy charitable initiatives. DCG team members regularly feature on the industry speaking circuit and are regularly cited by top national and global news outlets. For more information, please visit davecantingroup.com.

    Media Contact:

    Katie Merx

    katiemerx@gmail.com

    313.510.5090

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f162c27f-9bab-4734-b906-64b9644192bc

    The MIL Network –

  • MIL-OSI Global: Patrick Doyle’s five best film scores – including his pick of an undiscovered gem

    Source: The Conversation – UK – By David Scott, Head of Division, School of Business and Creative Industries, University of the West of Scotland

    Scottish musician Patrick Doyle is an acclaimed composer of over 60 feature film scores with many attendant accolades, honours and awards. I first met him in 2001 while making a now long-vanished series on movie music called Silverscreen Beats for BBC Radio.

    I visited him at his office on the Shepperton lot in Surrey. There, I watched, enchanted, as he flitted between desk and piano bringing his creativity to life with his incredible musicality and riotous humour illustrating scores like Carlito’s Way (1993), Sense and Sensibility (1995) and Gosford Park (2001).

    So years later, when the University of the West of Scotland (UWS) presented Doyle with an honorary doctorate, I wasted no time in asking him to visit and talk to our students. The film of that event is finally available online and is a treat for all fans of film music.

    I could pick 20 favourite Patrick Doyle soundtracks for this “best of” list. In the end, I selected these four and asked him to pick a fifth.

    1. Henry V (1989)

    Back in 2001, Doyle told me he loves to get the opportunity to compose a song for a movie soundtrack. Henry V, his first full-length feature score, includes one of the greatest examples, Non-Nobis Domine, sung after the key battle scene of Kenneth Branagh’s 1989 film.

    It builds from a plain opening verse, sung in the film by young Doyle himself who remembers, with a humorous twinkle, trying to sing it slightly “off key” to enhance its authenticity.

    Non-Nobis Domine in Henry V.

    From that simple introduction, the composer gradually adds choral, orchestral and complex harmonic elements, skilfully balancing the elation and darkness of triumph. And for all its harmonic counterpoint and rich orchestration, he never lets you forget that lonely central melody, doubling it down the octave on bowed double basses as it reaches the climax.

    The soundtrack recording, conducted by Simon Rattle with the Birmingham Symphony Orchestra, is a thing of wonder. But to truly understand the perfect marriage of story and music – even if orchestras and choirs did not typically boom across 15th-century battlefields – experience Non-Nobis Domine in the original movie.

    2. Brave (2012)

    The Scottish tradition is never far from Patrick’s music. Indeed, O! For a Muse of Fire, the opening theme from Henry V, uses a recognisably Scottish sound, two notes played quickly across a five note interval, as a key motif, expanding this in a melodic phrase that recalls the cries of seagulls.

    In Disney Pixar’s Brave (2012), Doyle brings an authentic voice to the imaginary Scotland of its central character, the indefatigable Merida. Her defiant exuberance is mirrored in the rhythm of pieces like The Games and Remember to Smile where the composer uses a traditional hand-held drum (the bodhran), bagpipes and fiddles, with the harmony instruments often playing in tight unison to rousing effect.

    Remember to Smile from the Brave score.

    If a key role of the movie soundtrack is to extend narrative or visual language, the effect wrought here is almost physical – to the extent that my own embarrassed grandchildren have had to restrain me from dancing on the couch during screenings of Brave.

    Elsewhere though, the slow mystery of a beautifully animated landscape is matched by atmospheric, languid passages that call on deep reserves of the tradition and its melancholy.

    3. Sense and Sensibility (1995)

    Patrick’s Catholic upbringing is another constant presence in his music. He was greatly influenced by the beautiful Irish melodic hymns which were imported to the west of Scotland. His soundtrack for Ang Lee’s Sense and Sensibility was nominated for a raft of music awards including the Baftas, the Oscars and Golden Globes.

    It has marvellous passages of yearning and almost devotional melody and harmony, but I include it selfishly for the hymnal Weep No More You Sad Fountains alone. It’s one of my very favourite melodies, and one I was privileged to hear him play at close quarters at UWS.

    The Dreame from Sense and Sensibility.

    This majestic piece can be heard on the original soundtrack, sung by English soprano Jane Eaglen, on Patrick’s 2015 album of solo piano pieces and, of course, during my interview with him. Perhaps less well known from the same film is The Dreame, another devotional piece, again sung by Eaglen and set to a Ben Johnson poem. Complex in conception and virtuosic in execution, the piece is nevertheless understated, underplayed, and more devastating for it.

    Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here.

    4. Carlito’s Way (1993)

    Doyle’s hilarious and hugely affectionate account of working with one of cinema’s greats, the director Brian DePalma, is a highlight of the conversation I had with him at UWS. His insights range from the creation of the music, the larger-than-life DePalma himself and descriptions of giant cranes chucking down fake rain onto a Biblical-scale location shoot in New York.

    The music created for Carlito’s Way, DePalma’s crime classic starring Al Pacino, is dramatic and rangy, with passages of glacial orchestrated strings – the title theme is a highlight – sitting alongside solo piano, small jazz ensemble and interesting sonic juxtapositions.

    The Elevator from Carlitto’s Way.

    One piece, The Elevator, combines marimba, piano and plucked strings in unison against guiro and woodblocks. It establishes a theme that builds intensely, adding different instrumental colour towards the famous climax in Grand Central Station in New York. It is recognisably “movie music”, but tells its own melodic story.

    5. Doyle’s choice – Indochine (1993)

    When I asked Patrick to choose an “undiscovered gem for a new generation”, he quickly picked Indochine, the 1993 drama starring Catherine Deneuve. The movie won the Oscar for best foreign film in that year and the music is classic Doyle, melodic, rich in harmony and grand enough in orchestral scale to match the sumptuous visual language of the film.

    Premier Rendez-Vous from Indochine.

    That devotional, romantic sound is in full flow too. Pieces like Premier Rendez-Vous and Journey’s End are almost heady in conception and execution. Among the most distinctive themes in this hugely expansive work are also among the most distinctive pieces in Doyle’s own canon: two sure-footed tango and rumba pieces and the title theme itself with its unusual and atmospheric combination of ethereal wordless vocal, eastern bass drum, gong and finger bells. Essential.

    David Scott 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. Patrick Doyle’s five best film scores – including his pick of an undiscovered gem – https://theconversation.com/patrick-doyles-five-best-film-scores-including-his-pick-of-an-undiscovered-gem-247132

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Radio 1 Big Weekend is coming to Liverpool!

    Source: City of Liverpool

    Radio 1 Breakfast Show, Greg James has revealed that superstar Sam Fender will be headlining Radio 1’s Big Weekend 2025 which will be held in Liverpool from Friday 23 May – Sunday 25 May. Myles Smith, Wet Leg, Blossoms and Lola Young (following her debut UK #1 with ‘Messy’ as announced on Radio 1’s Official Chart last Friday) were also announced as the first acts set to perform.

    Over the course of the weekend, around 100 acts will take to the stage, from the biggest artists in the world to exciting new and emerging artists, performing across four stages: Radio 1 Main Stage, Radio 1 New Music Stage, Radio 1 Dance and BBC Introducing. With over 100,000 music fans expected to attend, the event promises to be an unforgettable music spectacular.

    The first artists to be announced are (in alphabetical order):

    • Blossoms
    • Lola Young
    • Myles Smith
    • Sam Fender
    • Wet Leg

    Radio 1’s Big Weekend, the station’s flagship live music event, kicks off the UK’s festival season by bringing some of the biggest UK and international artists to cities that may not otherwise host such a large scale event. From Taylor Swift in Norwich, Miley Cyrus in Middlesbrough, Stormzy in Exeter, Lana Del Rey in Hull, Ed Sheeran in Coventry, Bruno Mars in Derry/Londonderry, The 1975 in Dundee, and Sabrina Carpenter in Luton, music fans around the UK have seen superstar acts perform on their doorsteps. The festival shines a light on the surrounding area and provides a major boost to the local economy, with huge demand for tickets ensuring the event sells out almost immediately every year. Last year’s festival generated £7 million for the host city of Luton.

    This year, the BBC is working closely with Liverpool City Council to ensure that Radio 1’s Big Weekend 2025 is a safe and secure environment for all those attending the festival.

    Sam Fender says: “Excited to announce we’re coming to Liverpool for Radio 1’s Big Weekend in May. Thanks for inviting us – see you there!”

    Myles Smith says: “This is unreal. Big Weekend was always a dream of mine, and to be on the line-up again is insane. Thank you to everyone who’s been listening, supporting, and coming to shows. I couldn’t have done this without you. See you there!”

    Blossoms say: “We’re delighted that Radio 1 have invited us to play at this year’s Big Weekend. Even more so because it’s taking place in Liverpool, a city close to our hearts, where we’ve worked and recorded every single one of our albums since our debut in 2016. It’s going to be a really special weekend and we can’t wait to perform.”

    Lola Young says: “I can’t wait to play Radio 1’s Big Weekend. It’s going to get Messy! Me + the Liverpool crowd = One Big Weekend… see what I did there!!”

    Greg James says: “FINALLY…Radio 1 HAS COME BACK…to Liv…er…pooool!

    “The last time I was there I was doing a big game of Hide and Seek and was hidden in the Liver building for a week so it’ll be nice to see some daylight and enjoy it properly this time. We can’t wait to bring the biggest artists in the world to this brilliant city in May. Everyone’s going to LOVE the line-up!”

    Aled Haydn Jones, Head of Radio 1, says: “We’re thrilled to bring Radio 1’s Big Weekend 2025 to Liverpool. Liverpool’s vibrant music scene and rich history make it the perfect setting for this iconic event. With incredible artists already announced and more to be announced in the coming months, it’s set to be an unmissable weekend.”

    Councillor Liam Robinson, Leader of Liverpool City Council, says: “Radio 1’s Big Weekend has found the perfect home this year in Liverpool. Our music, our audiences and our history of delivering world class major events add up to what is certain to be an incredible three days this May.”

    Further information about Radio 1’s Big Weekend 2025, including headliners and full line-up and ticketing details will be announced on Radio 1 in the coming months.

    BBC Radio 1 will broadcast live from the festival site across the weekend, with performances and tracks available live and on demand across Radio 1’s iPlayer channel and BBC Sounds.

    Radio 1 and Liverpool City Council will be working together to try and make this the most sustainable outdoor live music event ever produced in the city in line with the BBC’s Sustainability programme and Liverpool’s status as the first UN Accelerator City for climate action. For more information about Liverpool please head to the Visit Liverpool website.

    MIL OSI United Kingdom –

  • MIL-OSI: CareCloud to Present at The Microcap Conference 2025

    Source: GlobeNewswire (MIL-OSI)

    Somerset, NJ, Jan. 28, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDO, CCLDP), a leading provider of healthcare technology and generative AI solutions for medical practices and health systems nationwide, is pleased to announce its participation in The Microcap Conference 2025, the premier event for growth-focused companies and investors. The conference will take place January 28-30, 2025 at the Borgata Hotel Spa & Casino in Atlantic City, NJ.

    CareCloud’s management team will deliver a corporate presentation highlighting the Company’s recent developments, innovative solutions, and strategic growth initiatives. Additionally, the team will participate in one-on-one meetings with institutional and individual investors to explore opportunities and discuss CareCloud’s roadmap for continued growth and value creation.

    “We are excited to discuss CareCloud’s many recent milestones, including the imminent resumption of our Preferred Stock dividends in February 2025, the overwhelming support we received from shareholders in our most recent proxy to increase our authorized common shares, and our strong profitability growth during 2024,” said Stephen Snyder, Co-CEO of CareCloud. “These achievements, together with our stock performance over the last year, reflect investor confidence in our strategy and execution.”

    About The Microcap Conference 2025

    The Microcap Conference is the largest independent microcap event in the U.S., bringing together top-tier investors and executives from growth-oriented companies. The event provides an unparalleled platform for companies to showcase their value propositions through corporate presentations, expert panels, and networking opportunities.

    The 2025 conference highlights include:

    • Keynote Speakers: Renowned industry leaders, including Jon Ledecky, Co-Owner of the New York Islanders, and Tom Gardner, CEO of Motley Fool, will share their insights on investing and market trends.
    • Expert Panels and Presentations: Financial commentators Ron Insana (CNBC) and Charlie Gasparino (FOX Business) will cover pressing topics, including capital formation, regulatory updates, and equity market trends.
    • Entertainment Headliner: Comedian and Netflix star Tom Papa will headline an evening performance, adding a touch of entertainment to the event.

    Hosted by DealFlow Events, The Microcap Conference is celebrated for combining high-quality financial insights with engaging networking and entertainment experiences. For more information, visit The Microcap Conference.

    About CareCloud

    CareCloud brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com.

    To listen to video presentations by CareCloud’s management team, read recent press releases and view our latest investor presentation, please visit ir.carecloud.com.

    Follow CareCloud on LinkedIn, X and Facebook.

    Forward-Looking Statements

    This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

    Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

    These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

    The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    SOURCE CareCloud

    Company Contact:
    Norman Roth
    Interim Chief Financial Officer and Corporate Controller
    CareCloud, Inc.
    nroth@carecloud.com

    Investor Contact:
    Stephen Snyder
    Co-Chief Executive Officer
    CareCloud, Inc.
    ir@carecloud.com

    The MIL Network –

  • MIL-OSI: Gilat Receives $4M in Orders for Advanced Portable Satellite Terminals from Global Defense Customers

    Source: GlobeNewswire (MIL-OSI)

    PETAH TIKVA, Israel, Jan. 28, 2025 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that its wholly owned US-based subsidiary, Gilat DataPath, has been awarded $4M contracts from global Defense customers. These orders, for the company’s CCT200, CCT120 and QCT90 portable terminals, are slated for delivery over the next 12 months.

    Gilat DataPath’s C-Series and Q-Series Portable Satellite Antenna Terminals (PSATs) are renowned for their robust performance and rugged design. Engineered to withstand harsh environmental conditions such as wind, rain, dust, and extreme temperatures, these terminals are rigorously tested to meet the MIL-STD-810G standard while maintaining a compact and sleek design.

    The advanced antenna technology powering the CCT200, CCT120, and QCT90 ensures reliable, high-speed connectivity in even the most challenging operational environments. These follow-on orders reflect the continued trust and satisfaction of defense organizations worldwide with Gilat DataPath’s solutions.

    “The global defense landscape demands reliable, high-performance communication solutions capable of operating seamlessly under extreme conditions,” said Nicole Robinson, President of Gilat DataPath. “Gilat DataPath portable SATCOM terminals are meticulously designed to meet these requirements, offering exceptional durability, ease of transport, and operational simplicity. These terminals empower Ministries of Defense with the critical connectivity they need to support diverse and dynamic military operations.”

    Gilat DataPath innovative SATCOM solutions continue to strengthen its position as a trusted partner for defense organizations around the globe, ensuring mission-critical communications are always within reach.

    About Gilat
    Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we create and deliver deep technology solutions for satellite, ground, and new space connectivity and provide comprehensive, secure end-to-end solutions and services for mission-critical operations, powered by our innovative technology. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.

    Our portfolio includes a diverse offering to deliver high-value solutions for multiple orbit constellations with very high throughput satellites (VHTS) and software-defined satellites (SDS). Our offering is comprised of a cloud-based platform and high-performance satellite terminals; high-performance Satellite On-the-Move (SOTM) antennas; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense, field services, network management software, and cybersecurity services.

    Gilat’s comprehensive offering supports multiple applications with a full portfolio of products and tailored solutions to address key applications including broadband access, mobility, cellular backhaul, enterprise, defense, aerospace, broadcast, government, and critical infrastructure clients all while meeting the most stringent service level requirements. For more information, please visit: http://www.gilat.com

    Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect Gilat’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel, including those related to the war and hostilities between Israel and Hamas, Hezbollah, Iran and Yemen and the instability in the middle east; and other factors discussed under the heading “Risk Factors” in Gilat’s most recent annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and Gilat undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Gilat Satellite Networks
    Hagay Katz, Chief Products and Marketing Officer
    hagayk@gilat.com

    Alliance Advisors:
    GilatIR@allianceadvisors.com
    Phone: +1 212 838 3777

    The MIL Network –

  • MIL-OSI Russia: Dmitry Chernyshenko presented the Government awards in the field of tourism for 2024

    Translartion. Region: Russians Fedetion –

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

    Deputy Prime Minister Dmitry Chernyshenko took part in the award ceremony of the Russian Government Prize in Tourism for 2024, which is being held as part of the national project “Tourism and Hospitality”. The list of winners was approved by order of Prime Minister Mikhail Mishustin.

    Dmitry Chernyshenko presented the Russian Government awards in the field of tourism for 2024

    January 28, 2025

    Dmitry Chernyshenko presented the Russian Government awards in the field of tourism for 2024

    January 28, 2025

    Dmitry Chernyshenko presented the Russian Government awards in the field of tourism for 2024

    January 28, 2025

    Dmitry Chernyshenko presented the Russian Government awards in the field of tourism for 2024

    January 28, 2025

    Dmitry Chernyshenko presented the Russian Government awards in the field of tourism for 2024

    January 28, 2025

    Dmitry Chernyshenko presented the Russian Government awards in the field of tourism for 2024

    January 28, 2025

    Dmitry Chernyshenko presented the Russian Government awards in the field of tourism for 2024

    January 28, 2025

    Dmitry Chernyshenko presented the Russian Government awards in the field of tourism for 2024

    January 28, 2025

    Dmitry Chernyshenko presented the Russian Government awards in the field of tourism for 2024

    January 28, 2025

    Dmitry Chernyshenko presented the Russian Government awards in the field of tourism for 2024

    January 28, 2025

    Dmitry Chernyshenko presented the Russian Government awards in the field of tourism for 2024. Deputy Chairperson of the Federation Council of the Federal Assembly of the Russian Federation Inna Svyatenko

    January 28, 2025

    Previous news Next news

    Dmitry Chernyshenko presented the Russian Government awards in the field of tourism for 2024

    The winners of the award were the authors of 10 successful projects that contributed to the development of the Russian hospitality industry. Among them are initiatives to create new tourist facilities, innovative digital solutions, training programs, popularization of event tourism, as well as the development of tourism products accessible to everyone, including people with disabilities.

    The Deputy Prime Minister thanked the laureates for their significant contribution to the tourism and hospitality industry. According to him, this award recognizes the best industry practices and a highly professional approach to work. The laureates’ projects are not only effective from a business perspective, they change people’s lives for the better.

    Russian President Vladimir Putin has named the development of domestic tourism as one of his priorities. According to his instructions, the tourism industry’s share in GDP should increase to 5% by 2030, and the number of annual trips around the country should grow to 140 million.

    “We see that more and more of our citizens are traveling around Russia, discovering its beauty, exploring new destinations and routes. By the end of 2024, Russians had made more than 92 million domestic trips – this is good growth. It is important that the laureates’ projects are aimed at creating hotel rooms for families with children in holiday destinations, as instructed by President Vladimir Putin, as well as a barrier-free environment for people with disabilities. We will continue to provide comfortable and accessible conditions for tourists. We will build hotels, seaside and ski resorts, amusement parks and other infrastructure. This will not only develop domestic tourism, but also increase the number of foreign guests,” Dmitry Chernyshenko emphasized.

    He added that by decree of the head of state, 2025 has been declared the Year of the Defender of the Fatherland. It is important to build tourist routes to places of (military) glory of the Great Patriotic War in order to preserve the memory of the heroes and their exploits.

    “Russian tourism is developing rapidly today. We see a growing interest in traveling around the country every year, both from Russians and our foreign guests. The hospitality industry has seen a large increase in investment in recent years, both private and public. But in addition to financial resources, tourism now needs new ideas that will allow it to create world-class tourism products and services. Therefore, the federal tourism award every year encourages authors of interesting projects that offer unconventional approaches to the development of the industry,” said Minister of Economic Development Maxim Reshetnikov.

    The award winners were also congratulated by Deputy Chairperson of the Federation Council Inna Svyatenko and Chairman of the State Duma Committee on Tourism and Development of Tourism Infrastructure Sangadzhi Tarbaev.

    The winners receive a cash prize– 1 million rubles. In 2024, 88 projects were submitted for consideration by the award council.

    Applications are currently being accepted for the 2025 Government Tourism Prize. Projects nominated for the prize must have been implemented in practice at least one year before the start of the application process. Works will be accepted until March 1, 2025. More details are inannouncement of the start of the collection of applications for the Russian Government Awards in the field of tourism in 2025.

    Projects that received the Russian Government Prize in 2024

    1. The Attraction project is a complex development in Magnitogorsk, Chelyabinsk Region, with social, sports and cultural facilities. The project area is a venue for mass festivals. From 2019 to 2024, the volume of investments in the project exceeded 15 billion rubles. (Awardee – R.V. Novitsky)

    2. The project “Ecopark “Yasnopole”. Living Village” is an association of several farms on a territory of 500 hectares in the Yasnogorsk district of the Tula region, which are engaged in agricultural and agrotourism activities, creating all the conditions for the development of surrounding villages and settlements. The ecopark uses energy-efficient technologies in construction and alternative energy sources, as well as advanced eco-technologies in agriculture – organic farming, a nursery of soil-forming microorganisms and others. The ecopark is visited by more than 20 thousand people per year. (Awardee – D.A. Cherepkov)

    3. The Green Path of the Krasnaya Polyana Resort Project, during which 29 events were held with the participation of over 2.5 thousand people. Within the framework of the project, several popular science books were published, the accessibility of the Krasnaya Polyana resort territory for people with limited mobility was increased, and projects to support children’s adaptive sports and physical education were implemented. Seven of the nine hotels of the resort passed independent environmental certification. (Awardees – L.M. Shagarov, A.A. Molochkova)

    4. TV channel “My Planet”, which has been covering the sphere of Russian tourism for 15 years. The TV channel ranks third in the rating of cited popular science TV channels. The audience of the TV channel is 55 million viewers per year. (Awardees – G.V.Kovbasyuk, N.A.Kuznetsova, A.B.Pankratov)

    5. The Hospitality Classes project in Crimea is aimed at creating conditions for successful socialization and professional self-determination of teenagers. The project program consists of nine modules, each of which is dedicated to a separate area in the hospitality industry and professions in this area. (Awardees – N.A. Vistunova, D.S. Kolesnikova, A.S. Petrova, E.V. Ponomareva)

    6. The project “System for the Development of Domestic and Inbound Tourism Based on the Synergy of the Tourism Business and the Government” – includes analytical and expert work on studying the preferences of Russians in recreation, assessment and analysis of the tourism potential of the regions, a set of training events for the regional tourism business. Based on this data, a tourism product is formed, a strategy for its promotion and implementation is developed. (Awardees – S.I. Gonetskaya, O.N. Ivanova, A.L. Malinina, G.Sh. Musalova, A.E. Fokeeva)

    7. The project of the active recreation park “Malskaya Dolina” is a modern complex for active recreation with developed infrastructure. It is located in the village of Rogovo in the Pskov region, a historical place on the territory of the Izborsko-Malskaya Valley – a natural monument of regional significance. The territory of the park is 194 hectares. (Awardee – V.A. Seliverstov)

    8. “Glamping Ecosystem “Green Trail”” is one of the first glampings in Russia, which contributed to the development of the corresponding recreation format. On its territory there are tents and guest houses, as well as a clearing for accommodating tent tourists and caravanners. Every year the hotel receives about 7 thousand people. (Awardee – I.I. Mamai)

    9. The project “Inclusive tourism as a comprehensive system of habilitation and rehabilitation of children with autism spectrum disorders”, during the existence of which more than 200 children with disabilities took part in trips. (Awardee – A.V. Senik)

    10. Research project “Rating of the event potential of Russian regions” is the first analytical tool for assessing the level of development of infrastructure for event and business tourism in the regions. Since 2014, the rating has annually assessed the potential of Russian regions in the sphere of organizing events on their territory that contribute to the development of business and event tourism, the growth of the investment attractiveness of the region, as well as support for the socio-economic and cultural life of the region. (Awardee – D.A. Ostrovskaya)

    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.

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi inaugurates the ‘Utkarsh Odisha’ – Make in Odisha Conclave 2025 in Bhubaneswar

    Source: Government of India

    Prime Minister Shri Narendra Modi inaugurates the ‘Utkarsh Odisha’ – Make in Odisha Conclave 2025 in Bhubaneswar

    The programme showcases the state’s immense potential as a thriving hub for investment and business opportunities: PM

    Eastern India is a growth engine in the development of the country, Odisha plays a key role in this: PM

    Today, India is moving on a path of development driven by the aspirations of crores of people: PM

    Odisha is truly Outstanding, Odisha symbolises the Optimism and Originality of New India, Odisha is a land of Opportunities, and the people here have always shown a passion to Outperform: PM

    India is focusing on green future and green tech: PM

    For 21st century India, this era is all about connected infrastructure and multi-modal connectivity: PM

    Odisha holds immense potential for tourism: PM

    With a vast pool of young talent and a massive audience for concerts, India has great possibilities for a thriving concert economy: PM

    Posted On: 28 JAN 2025 1:33PM by PIB Delhi

    The Prime Minister, Shri Narendra Modi inaugurated the Utkarsh Odisha – Make in Odisha Conclave 2025 and  Make in Odisha Exhibition in Bhubaneswar, Odisha today. Addressing the gathering, the Prime Minister said this was his second visit to Odisha in the month of January 2025, recalling his visit to inaugurate Pravasi Bharatiya Divas 2025 event. Noting that this was the biggest business Summit in Odisha till date, Shri Modi said that there were around 5-6 times more investors participating in Make in Odisha Conclave 2025. He also congratulated the people and the Government of Odisha for organising the grand event.

    “Eastern India is a growth engine in the development of the country and Odisha plays a key role in this”, exclaimed the Prime Minister. He added that historic data also reveals that the contributions of Eastern India were remarkable when India played a major role in global growth. Shri Modi noted that there were huge industrial hubs, ports, trade hubs in Eastern India and Odisha’s participation in this was remarkable. “Odisha used to be an important center in South Eastern Asian trade and the ports were a gateway to India”, said the Prime Minister. He added that Bali Yatra is celebrated even today in Odisha. Recalling the recent visit of the President of Indonesia to India, the Prime Minister said that the President’s words that there were probably traces of Odisha in his DNA.  

    The Prime Minister remarked that Odisha celebrates a legacy which connects it with South East Asia. He added that Odisha had now begun to revive the glorious heritage in the 21st century. He noted that the President of Singapore recently visited Odisha and Singapore was very enthusiastic about its relationship with Odisha. He highlighted that ASEAN countries have also shown interest in strengthening trade and traditional connections with Odisha. The Prime Minister emphasized that numerous opportunities were opening up in this region, more than ever before since independence. He called upon all the investors present, stating that now is the right time to invest in Odisha’s development journey and assured that their investment would lead to new heights of success.

    “India is on a path of development driven by the aspirations of crores of people”, remarked Shri Modi and emphasized that AI stands for both Artificial Intelligence and Aspiration of India, which is the country’s strength. He said that aspirations grow when people’s needs are met, and the past decade has empowered crores of citizens, benefiting the nation. The Prime Minister highlighted that Odisha represents this aspiration. He described Odisha as outstanding, symbolizing the optimism and originality of New India. He added that Odisha had numerous opportunities, and its people have always shown a passion for outperforming. Sharing his personal experience of witnessing the skills, hard work, and honesty of people from Odisha in Gujarat, the Prime Minister expressed confidence that with new opportunities emerging in Odisha, the state will soon reach unprecedented heights of development. He praised Chief Minister Shri Mohan Charan Manjhi and his team for their efforts in accelerating Odisha’s development. The Prime Minister noted that Odisha is becoming one of India’s leading states in various industries, including food processing, petrochemicals, port-led development, fisheries, IT, edutech, textiles, tourism, mining, and green energy.

    Underscoring that India was rapidly progressing towards becoming the world’s third-largest economy, the Prime Minister said that the milestone of a five trillion-dollar economy was not far away. He added that over the past decade, India’s strength in manufacturing had also become evident. The Prime Minister highlighted that the expansion of India’s economy rests on two major pillars: the innovative service sector and quality products. He emphasized that the country’s rapid progress cannot rely solely on the export of raw materials and therefore, the entire ecosystem was being transformed with a new vision. The Prime Minister mentioned that India was changing the trend of extracting minerals and sending them abroad for product manufacturing and value addition, only to have those products return to India. Similarly, he added that the trend of exporting seafood for processing in other countries was also being changed. Shri Modi stated that the Government was working to ensure that industries related to the resources in Odisha are established within the state. He highlighted that Utkarsh Odisha Conclave 2025 was a means to realize this vision.

    Remarking that the world was increasingly focusing on sustainable lifestyles and moving towards a green future, Shri Modi noted that the potential for green jobs is also growing significantly. He emphasized the need to adapt to the demands and requirements of the times. He highlighted that India was focusing on green technology and a green future, including solar, wind, hydro, and green hydrogen, which will power the energy security of a developed India. The Prime Minister mentioned that Odisha had immense potential in this regard and stated that the country had launched national-level Green Hydrogen and Solar Power Missions. Shri Modi noted that significant policy decisions were being made to promote renewable energy industries in Odisha, and several steps were being taken for hydrogen energy production.

    Prime Minister remarked that alongside green energy, initiatives were being taken to expand the petro and petrochemical sector in Odisha. He highlighted that dedicated industrial parks and investment regions were being developed in Paradip and Gopalpur, indicating significant investment potential in this sector. Shri Modi congratulated the Odisha government for making swift decisions and developing a new ecosystem, considering the potential of different regions in the state.

    “21st century is an era of connected infrastructure and multi-modal connectivity for India”, said Shri Modi and highlighted that the scale and speed at which specialized infrastructure was being developed in India was making the country an excellent investment destination. He noted that dedicated freight corridors were connecting the east and west coastlines, providing faster access to the sea for previously land-locked regions. He mentioned that dozens of industrial cities with plug-and-play facilities were being constructed across the country. Shri Modi emphasized that similar opportunities were being enhanced in Odisha and thousands of crores worth of projects related to railway and highway networks are underway in the state. He added that to reduce logistics costs for industries in Odisha, the Government was connecting ports with industrial clusters and mentioned that both the expansion of existing ports and the construction of new ports are taking place. He stressed that Odisha was set to become one of the top states in the country in terms of the blue economy.

    Urging everyone to recognize the challenges of the global supply chain in a rapidly changing world, the Prime Minister emphasized that India cannot rely on fragmented and import-based supply chains. Instead, a robust supply and value chain must be built within India to minimize the impact of global fluctuations, he added. He highlighted that this responsibility lies with both the government and the industry. Shri Modi called on industries to support MSMEs and young startups, stressing the importance of research and innovation for growth. He added that theGovernment was creating a vibrant research ecosystem in the country, with a special fund and a package for internships and skill development. He encouraged industries to actively participate and collaborate with the Government. Emphasising that a strong research ecosystem and a skilled young workforce will directly benefit the industry, Shri Modi urged industry partners and the Odisha government to work together to build a modern ecosystem aligned with Odisha’s aspirations, providing new opportunities for the youth. This, he said, will create more job opportunities within Odisha, leading to prosperity, strength, and progress for the state.

    The Prime Minister remarked that people around the world were eager to understand and learn about India. He highlighted that Odisha was an excellent destination to understand India, with its thousands of years of heritage and history. He added that the state offers a unique blend of faith, spirituality, forests, mountains, and the sea, all in one place. Shri Modi described Odisha as a model of development and heritage and mentioned that G-20 cultural events were held in Odisha, and the Konark Sun Temple’s wheel was made a part of the main event. He emphasized the need to explore Odisha’s tourism potential, with its 500-kilometer coastline, over 33% forest cover, and endless possibilities for eco-tourism and adventure tourism. Prime Minister noted that India’s focus was on “Wed in India” and “Heal in India,” and Odisha’s natural beauty and environment were very supportive of these initiatives.

    Highlighting that India had significant potential for conference tourism, the Prime Minister said that venues like Bharat Mandapam and Yashobhoomi in Delhi were becoming major centers for this sector. He also mentioned the emerging sector of the concert economy. He noted that India, with its rich heritage of music, dance, and storytelling, and a large pool of young concert-goers, has immense possibilities for the concert economy. He added that over the past decade, the trend and demand for live events have increased. Pointing out the recent Coldplay concerts in Mumbai and Ahmedabad as evidence of the scope for live concerts in India, Shri Modi emphasized that major global artists were attracted to India, and the concert economy boosts tourism and creates numerous jobs. He urged states and the private sector to focus on the necessary infrastructure and skills for the concert economy. This includes event management, artist grooming, security, and other arrangements, where new opportunities are emerging.

    Shri Modi remarked that next month, India will host the World Audio Visual and Entertainment Summit (WAVES) for the first time. He highlighted that this significant event will showcase India’s creative power to the world. He emphasized that such events generate revenue and shape perceptions, contributing to the economy’s growth. He noted that Odisha has immense potential for hosting such events.

    “Odisha plays a significant role in building a developed India”, emphasized the Prime Minister. He highlighted that the people of Odisha have resolved to build a prosperous state, and the Union government was providing all possible support to achieve this goal. He expressed his affection for Odisha, noting that he had visited the state nearly 30 times as Prime Minister and has been to most of its districts. He emphasized his trust in Odisha’s potential and its people. Concluding his address, the Prime Minister expressed confidence that the investments made by all partners will elevate both their businesses and Odisha’s progress to new heights. He extended his best wishes to everyone involved. 

    The Governor of Odisha, Dr. Hari Babu Kambhampati, Chief Minister of Odisha, Shri Mohan Charan Manjhi, Union Ministers Shri Dharmendra Pradhan, Shri Ashwini Vaishnaw were present among other dignitaries at the event.

    Background

    Utkarsh Odisha – Make in Odisha Conclave 2025 is a flagship Global Investment Summit, being hosted by the Government of Odisha, which aims to position the state as the anchor of the Purvodaya vision as well as a leading investment destination and industrial hub in India.

    Prime Minister also inaugurated the Make in Odisha Exhibition that highlights achievements of the state in developing a vibrant industrial ecosystem. The two day conclave will be held from 28th to 29th January. It will serve as a platform for industry leaders, investors, and policymakers to converge and discuss the opportunities Odisha offers as a preferred investment destination. The conclave will host CEOs and Leaders’ Roundtables, Sectoral Sessions, B2B meetings, and Policy Discussions, ensuring targeted engagement with investors across the globe.

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