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Category: Europe

  • MIL-OSI USA: Murphy, Young Urge President Biden To Protect Undersea Cables From China, Russia

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    October 21, 2024

    WASHINGTON—U.S. Senators Chris Murphy (D-Conn.) and Todd Young (R-Ind.), members of the U.S. Senate Foreign Relations Committee, on Monday led 6 of their Senate colleagues in sending a bipartisan letter to President Biden expressing concerns about the security of the global network of undersea communications and energy cables upon which American workers and businesses rely.
    More than 95% of international internet traffic travels via these undersea cables, resulting in trillions of dollars in financial transactions each day. The locations of these cables are often openly published to prevent accidental damage.
    As American companies look to expand and invest in this critical infrastructure, it is imperative that the United States has a complete understanding of existing vulnerabilities, especially those that impact our economic and national security.
    “America’s adversaries have been developing their capabilities to attack or disrupt critical undersea infrastructure. There is a long tradition, dating back well over a century, of belligerents attacking their opponents’ underwater communications lines in the first phase of a conflict,” the senators wrote. “Given these threats and challenges, it is imperative that the United States undertake a review of existing vulnerabilities to global undersea cable infrastructure, including the threat of sabotage by Russia as well as the growing role of the People’s Republic of China in cable laying and repair. If we are truly to deepen vital commercial and security relationships with willing partners and allies, this must be a national priority.”
    U.S. Senators Marco Rubio (R-Fla.), Tim Kaine (D-Va.), Pete Ricketts (R-Neb.), Jeanne Shaheen (D-N.H.), Dan Sullivan (R-Alaska), and Brian Schatz (D-Hawaii) also signed the letter.
    Full text of the letter is available HERE and below:
    Dear Mr. President: 
    We write to you to express our concern about the security of global undersea communications and energy cables, especially those that impact America’s economic and national security and that of our allies and partners. As you are well aware, more than 95% of international internet traffic travels via undersea cables, including trillions of dollars in financial transactions each day. Moreover, the exact locations of most of these cables are openly published in order to reduce the likelihood of accidental damage from ships’ anchors or fishing activities. Internet and telecommunications providers, including American firms, intend to invest billions of dollars in expanding the global network of undersea communications cables. Additionally, energy transmission cables are proliferating as governments look to new sources of electricity generation. 
    America’s adversaries have been developing their capabilities to attack or disrupt critical undersea infrastructure. There is a long tradition, dating back well over a century, of belligerents attacking their opponents’ underwater communications lines in the first phase of a conflict. For example, in both World Wars, Britain’s first naval actions were to cut the telegraph cables connecting Germany to the Americas, and in 1918 a German U-boat severed lines connecting New York to both Nova Scotia and Panama. In addition to this kind of overt, kinetic attack, the nature of undersea infrastructure increases the feasibility of gray zone actions with plausible deniability. It is difficult to distinguish between an accident and a deliberate action on the seabed, and more difficult still to confirm who conducted such an action. On top of this, because this infrastructure is privately owned by commercial enterprises, repairs are the responsibility of these private companies, which are likely not prepared to maintain them under wartime conditions and are likely to seek the most cost-effective repair and maintenance options—even if that option is owned or operated by a foreign adversary or strategic competitor. 
    Given these threats and challenges, it is imperative that the United States undertake a review of existing vulnerabilities to global undersea cable infrastructure, including the threat of sabotage by Russia as well as the growing role of the People’s Republic of China in cable laying and repair. If we are truly to deepen vital commercial and security relationships with willing partners and allies, this must be a national priority. We respectfully request that you provide responses to the following questions and direct senior administration officials to brief Members of Congress, including members of relevant committees of jurisdiction, on your plans and the resources and authorities needed to carry them out.
    What is your Administration’s overall strategy to guarantee the security of America’s undersea infrastructure and to promote the security of that of our allies and partners? 
    The National Defense Authorization Act for Fiscal Year 2020 established the Cable Security Fleet (CSF). If authorized and sufficiently funded, what would be your assessment of the ideal size of the U.S.-flagged and -operated cable laying and repair vessel fleet to ensure sufficient cable repair capacity during a conflict or national emergency? How can the United States work with trusted allies and partners for additional capacity to support the expansion and repair of trusted undersea cable networks? 
    What is the Administration’s strategy to encourage other nations to choose trusted suppliers in their selection of undersea cable manufacturers, particularly in any nation of concern or which may be vulnerable to coercion or covert action by America’s adversaries? 
    How is the Administration working with the private sector to ensure that commercial enterprises’ investments in undersea cables align with U.S. national security priorities? 
    How do you intend to protect the physical security of undersea cables in the open ocean, including through any interpretation of customary international law? 
    How is the Administration working multilaterally to collectively enhance security and monitor potential threats to undersea infrastructure, including through NATO, the Quad, and the Indo-Pacific Economic Framework for Prosperity? 
    Thank you for your prompt attention to this request. As Congress works to continue its oversight of national security, it is vital that we understand the current state of the information backbone of our economy and efforts to protect it. 
    Sincerely, 

    MIL OSI USA News –

  • MIL-OSI Europe: German Chancellor Sholz to Visit Türkiye

    Source: Republic of Turkey

    Chancellor Olaf Scholz of Germany will pay a working visit to Türkiye on October 18-19, 2024 at the invitation of President Recep Tayyip Erdoğan.
    During the talks to be held in Istanbul on October 19 Saturday, the bilateral relations between Türkiye and Germany will be reviewed thoroughly and potential steps that would further improve the cooperation between the two countries will be addressed.
    The views on the current regional and global matters, particularly the Türkiye-European Union relations, Israel’s attacks on Gaza, the occupied Palestinian territories and Lebanon, the developments in Ukraine as well as the Türkiye-Germany bilateral relations, will be exchanged at the talks as well.
    Respectfully announced to the public.

    MIL OSI Europe News –

  • MIL-OSI Europe: President Erdoğan to Visit Albania and Serbia

    Source: Republic of Turkey

    President Recep Tayyip Erdoğan will pay official visits to Albania and Serbia respectively on October 10-11, 2024.
    During the talks to be held as part of the visits, all aspects of the bilateral relations with the abovementioned countries will be reviewed and works to be carried out to further improve the current cooperation in various areas will be addressed.
    President Erdoğan will co-chair the high-level cooperation council meetings with his counterparts in both countries, inaugurate the biggest mosque of the Balkans, Tirana Namazgah Mosque, which is funded by Türkiye, with the participation of Prime Minister Edi Rama of Albania, and attend together with President Aleksandar Vucic of Serbia the business forum to be held in Belgrade.
    Various agreements aimed at enhancing the contractual basis of the bilateral relations are planned to be signed on the occasion of the visits.
    Also, views on current global and regional matters, especially Gaza, the occupied Palestinian territories and Israeli attacks on Lebanon, as well as the developments in the Balkans are expected to be exchanged at the talks.
    Respectfully announced to the public.

    MIL OSI Europe News –

  • MIL-OSI Translation: October 5-13, 2024: Geneva launches the 1st Mental Health Week

    MIL OSI Translation. Government of the Republic of France statements from French to English –

    Source: Switzerland – Canton Government of Geneva in French

    The mental health of Genevans will be in the spotlight from October 5 to 13. Throughout the week, 126 activities will be offered free of charge to the population in order to raise awareness of this major public health issue.

    As part of the cantonal plan for health promotion and prevention 2024-2028 (PSP), the State of Geneva is launching the 1st edition of Mental Health Week.

    This topic concerns everyone because it is normal to experience difficulties in one’s life for a while. But when these difficulties persist or become too overwhelming and burdensome, help may be necessary.

    In order to inform the people of Geneva about the resources and tools available to them in this area, the Cantonal Health Office and 84 Geneva institutions have designed a rich programme of 126 activities – conferences, practical workshops, open days, sports and artistic activities – accessible free of charge to all.

    For more information:

    Find this week’s program as well as all the useful information on the dedicated websiteRead it press release from the Department of Health and Mobility (DSM)

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

    MIL Translation OSI

  • MIL-OSI Translation: Glarus Nord: Rabies confirmed in bat

    MIL OSI Translation. Region: Italy –

    Source: Switzerland – Canton Government of Grisons in Italian

    The Swiss Rabies Center has identified the presence of the rabies virus in a Daubenton’s bat found in the Canton of Glarus.

    The Daubenton’s bat was found in Mühlehorn (municipality of Glarus Nord) on 20 September 2024. Switzerland is considered free of rabies in domestic and wild animals. However, individual cases of rabies in bats can rarely occur. Since 1992, only seven cases have been diagnosed in Switzerland.

    What to do? If you find a wild animal, especially if it appears sick or exhibits abnormal behavior, it is important not to touch it and inform the foundation Fledermaus Protection Foundation or the hunting supervisory body. If you are bitten by a bat, you should immediately consult a doctor and take the necessary precautions. More information is available on the website of Swiss Rabies Center.

    The enforcement of veterinary, food and chemical law for the Canton of Glarus is a task undertaken by the Office for Food Safety and Animal Health of the Grisons.

    Contact person:

    Giochen Bearth, Head of the Office for Food Safety and Animal Health of the Grisons, Tel. 41 81 257 24 11 (reachable between 11:00 and 12:00), e-mailGiochen.Bearth@alt.gr.ch

    Competent body: Office for Food Safety and Animal Health

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

    MIL Translation OSI

  • MIL-OSI Translation: 07/10/2024 Conversation between the deputy ministers of foreign affairs of Poland and Panama

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    Conversation between the deputy ministers of foreign affairs of Poland and Panama07/10/2024The Undersecretary of State at the Ministry of Foreign Affairs, Jakub Wiśniewski, met on October 4 with the deputy head of Panamanian diplomacy, Carlos Guevara Mann.

    The talks concerned cooperation at the Community of Democracies forum, including the celebration of the 25th anniversary of the signing of the Warsaw Declaration. Panama and Poland currently sit on the Community’s Executive Committee, the deliberations of which, with the participation of the Panamanian Deputy Minister as an honorary guest, took place on October 3 in Warsaw. They also discussed the promotion of democracy in the world, emphasizing that in the face of contemporary global beliefs, cooperation between countries is becoming crucial de mentalidad similar. The interlocutors also expressed their interest in deepening economic cooperation. During their stay in Poland, the Panamanian delegation also met with representatives of the National Chamber of Commerce, among others. Deputy Minister Carols Guevara Mann spoke about preparations for the celebration of the 200th anniversary of the Panama Congress of 1926. To commemorate this event, in 2026 Panama will host, among others, the Summit of the Organization of American States. The celebrations will also be a good opportunity to prepare joint cultural and historical projects, including those concerning the struggle for independence of Polish heroes in the region.

    Photo: Konrad Laskowski/Ministry of Foreign Affairs

    Photos (3)

    MILES AXIS

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

    MIL Translation OSI

  • MIL-OSI Translation: 04/10/2024 Undersecretary of State Jakub Wiśniewski met with a delegation from the EU Council of Ministers.

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    Undersecretary of State Jakub Wiśniewski met with a delegation from the EU’s Home Rule 04/10/2024On October 3, 2024, a meeting was held at the headquarters of the Ministry of Foreign Affairs between Undersecretary of State Jakub Wiśniewski and a delegation from the EU’s Home Rule 04/10/2024, led by President Susan Danger. Amcham a la UE is a business organization that brings together over 160 American companies operating on the European market.

    During the meeting, issues related to the upcoming Polish presidency of the Council of the European Union were raised. The deputy head of Polish diplomacy emphasized that the Polish presidency will be held at a difficult time, at a time when the war in Ukraine significantly affects the stability and security of not only Poland, but the whole of Europe. Undersecretary of State Jakub Wiśniewski also noted that the Polish presidency coincides with the beginning of a new institutional cycle of the European Union, which means cooperation with the new European Parliament and the new European Commission. The meeting was also an opportunity to exchange opinions on the need to take action to improve the competitiveness of the EU and support the innovation of European companies. Both sides emphasized the ties between Poland and the United States, including the growing trend of trade between our countries. In 2023, our countries achieved a record trade turnover of almost 28 million USD. It was pointed out that Poland has become one of the most attractive destinations under the so-called friendshoring process, which includes investments in allied countries. Issues relating to energy, new technologies and intellectual property were also discussed.

    Photo: Sebastian Indra/Ministry of Foreign Affairs

    Photos (3)

    MILES AXIS

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

    MIL Translation OSI

  • MIL-OSI Translation: 04/10/2024 19th OTAN Conference on Arms Control, Disarmament and Non-Proliferation of Weapons of Mass Destruction

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    19th OTAN Conference on Arms Control, Disarmament and Non-Proliferation of Weapons of Mass Destruction04/10/2024This year’s Conference was opened by Deputy Minister of Foreign Affairs Robert Kupiecki and Acting Assistant to the NATO Secretary General for Political and Security Policy Javier Colomina.

    The two-day OTAN Conference on Arms Control, Disarmament and Non-Proliferation of Weapons of Mass Destruction (WMD), held on October 3 and 4 in Warsaw, was attended by the US Undersecretary of State for Arms Control and Security Affairs, Bonnie Jenkins, and the UN Secretary General’s High Representative for Disarmament, Izumi Nakamitsu (who is also Deputy Secretary General). The main topic of the meeting was an assessment of the current state of the non-proliferation regime of weapons of mass destruction, which is under pressure from states trying to undermine the international order. The Russian aggression in Ukraine has a particularly negative impact on the regime’s condition. The analysis of threats and ways to counter them in the context of Russia’s actions was an important thread of the meeting. The event was attended by over 100 participants from over 40 countries, including NATO member states, associated countries and invited partner countries and international organizations. On the sidelines of the conference, a panel discussion on arms control and deterrence was held, organized by the Polish Institute of International Affairs (PISM). The event was broadcast on social media.***The annual NATO Conferences on Arms Control, Disarmament and Non-Proliferation of Weapons of Mass Destruction (WMD) have been organized continuously by NATO since 2004. They are co-hosted by NATO allies. The meetings offer the opportunity for informal discussions on WMD threats by senior state representatives and experts. The 19th Conference is being held for the second time in Poland. The first time was co-hosted by Polonia in December 2009.

    Photos (3)

    MILES AXIS

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

    MIL Translation OSI

  • MIL-OSI Russia: Denis Manturov visited aviation enterprises in Kazan

    Translation. Region: Russian Federation –

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

    Denis Manturov visited aviation enterprises in Kazan. At the Kazan Aviation Plant named after S.P. Gorbunov

    October 22, 2024

    Denis Manturov visited aviation enterprises in Kazan. At the Kazan Helicopter Plant

    October 22, 2024

    Denis Manturov visited aviation enterprises in Kazan. At the Kazan Helicopter Plant

    October 22, 2024

    Previous news Next news

    Denis Manturov visited aviation enterprises in Kazan. At the Kazan Aviation Plant named after S.P. Gorbunov

    First Deputy Prime Minister Denis Manturov visited the aircraft manufacturing enterprises of the Rostec state corporation in Kazan. Together with the head of Tatarstan Rustam Minnikhanov, he familiarized himself with the implementation of the program for the Tu-214 civil airliner and the expansion of the production capacity of the Kazan Aviation Plant named after S.P. Gorbunov. The First Deputy Prime Minister also visited the Kazan Helicopter Plant, where he assessed the progress of work on the import-substituting Ansat helicopter and inspected the latest modification of the Mi-171A3 in the Aurus configuration.

    The First Deputy Prime Minister’s visit took place ahead of the BRICS summit, which will be held in Kazan from October 22 to 24. Guests of the event, as part of the Made in Tatarstan exhibition, will be shown aircraft and helicopters manufactured by Rostec enterprises. In particular, the Mi-171A3 helicopter in the Aurus configuration, the modernized Ansat with an ambulance module, the Mi-38 in a business configuration, and the Tu-214 civil airliner will be on display.

    First Deputy Head of UAC, Managing Director of JSC Tupolev Konstantin Timofeev reported to Denis Manturov on the modernization of the Kazan Aircraft Plant and the prospects for increasing the production of Tu-214 aircraft. Large-scale construction and reconstruction work at the enterprise is planned to be completed by the end of 2026. The process of constructing new and modernizing existing production buildings, a flight test base and a number of other facilities is currently underway.

    “Of the 24 planned facilities, nine have already been commissioned, 15 facilities are at various stages of readiness. With the commissioning of all planned facilities, the enterprise will significantly reduce the production time. The new premises and equipment will allow us to begin serial production of civil aircraft and ensure the construction of 20 Tu-214 aircraft per year,” said Konstantin Timofeev.

    The First Deputy Prime Minister also inspected high-tech equipment for manufacturing large-sized parts, recently launched at the Kazan Aviation Plant. The new product was developed and manufactured by specialists from the STAN holding company of the Rostec state corporation. The Russian portal 5-axis milling machining center with a vacuum table will make it possible to manufacture components from aluminum alloys, including wing parts with a maximum size of up to 24 meters. At the same time, the time required to complete individual stages of the production cycle will be reduced several times. In 2025, the aircraft plant plans to commission another similar machine.

    In addition, the First Deputy Prime Minister, accompanied by the Director General of the Kazan Helicopter Plant Nikolay Yakovlev, inspected the main production workshops of the enterprise. The site produces helicopters of the Mi-8/17 family, multi-purpose Mi-38 and light Ansat helicopters. Denis Manturov also inspected a prototype of the light single-engine Mi-34M1 helicopter, equipped with a VK-650 engine, which took to the air for the first time last week, and spoke with test pilot Sergei Barkov.

    The First Deputy Prime Minister got acquainted with the progress of a major modernization of the helicopter manufacturing enterprise. He inspected the mechanical assembly production building under construction, visited the new building of the final assembly shop and the hangar of the flight test complex. There, Denis Manturov was shown the Mi-8MTV-1 helicopters and the latest multi-purpose Mi-38, and was also informed about the status of the import-substituting Ansat program. At the moment, all foreign components of the control system and autopilot have been replaced with domestic ones, and Russian VK-650V engines manufactured by the United Engine Corporation (part of Rostec) have been installed. Preparations are currently underway for ground checks of the aircraft, which will be followed by flight tests of the Ansat with the new engines. The first flight is planned to be completed before the end of this year.

    In addition, a program to modernize the helicopter is being implemented in parallel – increasing its takeoff weight and installing an anti-icing system. The flight range will also increase to 640 km (up to 800 km with an additional fuel tank).

    The Deputy Prime Minister inspected the Mi-171A3 in its latest Aurus modification, created specifically for business transportation. In this version, the helicopter can carry up to ten passengers, its cabin includes everything necessary for a comfortable flight over long distances. This helicopter is a successful example of expanding interplant cooperation. The Kazan Helicopter Plant manufactures the cargo floor and propeller blades. The Far Eastern enterprise AAK Progress manufactures composite elements – the pilot’s cabin and side panels of the fuselage, the production of other elements and final assembly is carried out at the Ulan-Ude Aviation Plant.

    Denis Manturov was also shown the newest Production and Training Center (PTC). This unique industrial and educational complex will train up to 3.5 thousand highly qualified multi-specialists per year. Classes have already begun here for students and plant employees, who are simultaneously receiving several in-demand professions. Educational programs have been developed for the center in eight areas and 38 professions. The emphasis in training is on practice, which takes up to 70% of the training time. For this purpose, the PTC has 15 production sites, 12 laboratories and 21 classrooms.

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

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

    http://government.ru/nevs/53074/

    MIL OSI Russia News –

  • MIL-OSI Russia: IMF Managing Director Kristalina Georgieva’s Statement on the Review of Charges and the Surcharge Policy

    Source: IMF – News in Russian

    October 11, 2024

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded today the Review of Charges and the Surcharge Policy.[1] Ms. Kristalina Georgieva, Managing Director of the IMF, issued the following statement.

    “In a challenging global environment and at a time of high interest rates, our membership has reached consensus on a comprehensive package that substantially reduces the cost of borrowing, while safeguarding the IMF’s financial capacity to support countries in need.”

    “The approved measures will lower IMF borrowing costs for members by 36 percent, or about US$1.2 billion annually. The expected number of countries subject to surcharges in fiscal year 2026 will fall from 20 to 13.”

    “This is achieved by reducing the margin over the SDR interest rate, raising the threshold for level-based surcharges, lowering the rate for time-based surcharges, and increasing the thresholds for commitment fees. The approved package will take effect on November 1, 2024.” 

    “While substantially lowered, charges and surcharges remain an essential part of the IMF’s cooperative lending and risk management framework, where all members contribute and all can benefit from support when needed. Together, charges and surcharges cover lending intermediation expenses, help accumulate reserves to protect against financial risks, and provide incentives for prudent borrowing. This provides a strong financial foundation that allows the IMF to extend vital balance of payments support on affordable terms to member countries when they need it most.”

    “This reform helps ensure that the IMF can continue serving our members in a changing world.”

    Link to FAQs

    [1] Charges and surcharges do not apply to borrowing from the IMF’s Poverty Reduction and Growth Trust, under which low-income members receive financial support on concessional terms.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Camila Perez

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

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2024/10/11/pr-24368-imf-md-kristalina-georgieva-statement-on-the-review-of-charges-and-surcharge-policy

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Russia: IMF Executive Board Concludes 2024 Article IV Consultation with Türkiye

    Source: IMF – News in Russian

    October 11, 2024

    Washington, DC: On September 27, 2024, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation[1] with Türkiye.

    A decisive shift in economic policies over the past year has tightened Türkiye’s overall policy stance. The Central Bank of the Republic of Türkiye (CBRT) has brought the ex ante real policy rate into positive territory while reducing regulatory complexity. Tax and expenditure measures underpin efforts to restore fiscal prudence and the commitment to stronger incomes policies has strengthened credibility.

    The policy turnaround has reduced economic imbalances and revived confidence. Headline inflation has fallen as tighter financial conditions are weighing on domestic demand. Market sentiment has sharply improved, with domestic and foreign investors shifting into lira-denominated assets while lower commodity prices, buoyant exports, and reduced gold imports have strengthened the current account, supporting a large improvement in both the gross and net reserves position. The financial and corporate sectors appear to have weathered the policy tightening and financial liberalization so far. Credit default swaps (CDS) spreads are now at about half their mid-2023 levels.

    Under the authorities’ gradual policy adjustment, inflation is expected to further decline. Contractionary ex ante real policy rates, moderating wage growth, and more contractionary fiscal policy in 2025 are expected to reduce inflation to 43 percent this year and 24 percent in end-2025. After a strong first quarter, growth has weakened and is expected to fall to 3 percent in 2024 and 2.7 percent in 2025, recovering toward 4 percent in the medium term. Disinflation and improved confidence will support a narrowing of the current account deficit to about 2 percent of GDP and reserves to around 100 percent of the IMF’s adequacy metric.

    Risks around the baseline are significant and tilted to the downside. They include stronger-than-expected wage and price inertia, a reversal of capital flows, higher global energy prices, and escalating geopolitical tensions. Significant financial and external vulnerabilities remain. The authorities’ gradual approach to fighting inflation prolongs the period during which risks might occur.

    Executive Board Assessment[2]

    The Executive Directors agreed with the thrust of the staff appraisal. They commended the authorities for the decisive policy tightening since mid-2023, which has helped to significantly reduce macroeconomic imbalances and risks. However, with inflationary pressures still high, and significant downside risks, they urged the authorities to press ahead with coordinated fiscal, monetary, and incomes policies to anchor inflationary expectations and entrench macroeconomic stability.

    While noting sustainable public debt levels, Directors recommended a larger and more frontloaded fiscal consolidation to support disinflation efforts and further strengthen buffers. They supported strengthening tax administration, rationalizing tax expenditures, broadening the tax base, energy subsidy reform, limiting capital spending to essential projects, and enhancing risk monitoring while protecting earthquake related spending. Directors also urged further efforts to address fiscal risks arising from contingent liabilities in state owned enterprises, public private partnerships, and pension costs.

    While noting the challenges, Directors considered that phasing out backward looking indexation and shifting toward setting wages in line with inflation expectations could significantly help reduce inflation.

    Directors called for continued tight, data dependent monetary policy until inflation converges to target levels. They agreed that the central bank should stand ready to tighten further if needed to ensure that the path of disinflation stays on track. Directors highlighted that further strengthening the monetary transmission mechanism and central bank independence and communication would enhance policy credibility.

    Directors encouraged foreign exchange intervention to focus on smoothing potentially destabilizing exchange rate movements that could dislodge inflation expectations, and to be scaled back as inflation recedes. They highlighted the need to effectively manage volatile capital flows and agreed that capital flow measures should be discontinued gradually as FX liquidity risk and inflation recede.

    Directors underscored the importance of ongoing vigilance and further reforms to maintain financial stability. They supported continued implementation of the 2023 FSAP recommendations and efforts to align the supervisory and regulatory framework with Basel III standards. Directors commended the authorities for recent improvements to the AML/CFT framework and exit from the FATF grey list, while noting that further progress was needed, including to mitigate virtual assets risks.

    Directors called for advancing structural reforms to achieve more inclusive, greener, and higher medium-term growth. Further energy and labor market reforms, including to boost female participation, remain important priorities.

    Türkiye: Selected Economic Indicators, 2019−29

    Population (2023): 85.4 million

    Per capita GDP (2023): US$13,243

    Quota: SDR 4,658.6 million
     

    2019

    2020

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

     

    Proj.

    Real sector

    (Percent)

    Real GDP growth rate

    0.8

    1.9

    11.4

    5.5

    5.1

    3.0

    2.7

    3.2

    3.4

    3.7

    3.9

    Contributions to real GDP growth

    Private consumption

    0.9

    1.9

    9.2

    11.7

    9.5

    1.1

    0.3

    1.9

    2.0

    2.0

    2.0

    Public consumption

    0.5

    0.3

    0.4

    0.6

    0.3

    0.4

    0.5

    0.5

    0.4

    0.5

    0.4

    Investment (incl. inventories)

    -3.0

    4.8

    -3.2

    -7.5

    -1.6

    0.6

    2.6

    1.1

    1.2

    1.6

    1.7

    Net exports

    2.4

    -5.2

    5.0

    0.7

    -3.1

    0.9

    -0.6

    -0.2

    -0.2

    -0.3

    -0.2

    Output gap

    -2.1

    -4.6

    1.1

    1.5

    1.9

    0.7

    -0.3

    -0.5

    -0.5

    -0.2

    0.0

    GDP deflator growth rate

    13.9

    14.8

    29.0

    96.0

    68.2

    60.0

    31.4

    20.4

    16.6

    15.3

    15.2

    Inflation (period-average)

    15.2

    12.3

    19.6

    72.3

    53.9

    60.9

    33.0

    19.2

    16.0

    15.0

    15.0

    Inflation (end-year)

    11.8

    14.6

    36.1

    64.3

    64.8

    43.0

    24.0

    17.2

    15.3

    15.0

    15.0

    Unemployment rate

    13.7

    13.1

    12.0

    10.4

    9.4

    9.3

    9.9

    9.6

    9.5

    9.3

    9.2

    Fiscal sector

    (Percent of GDP)

    Nonfinancial public sector overall balance

    -5.0

    -4.7

    -3.0

    -2.7

    -5.4

    -5.3

    -3.7

    -3.1

    -3.2

    -3.1

    -3.1

    General government overall balance (headline) 1/

    -3.0

    -4.0

    -2.6

    -0.8

    -5.2

    -5.3

    -3.5

    -3.0

    -3.0

    -3.0

    -3.0

    General government gross debt (EU definition)

    32.4

    39.4

    40.4

    30.8

    29.3

    25.2

    26.0

    26.0

    26.0

    25.9

    25.6

    External sector

    (Percent of GDP)

    Current account balance

    2.0

    -4.3

    -0.8

    -5.1

    -4.0

    -2.2

    -2.1

    -2.0

    -1.9

    -1.9

    -1.9

    Gross external debt

    54.5

    59.8

    53.9

    50.5

    45.2

    41.3

    39.8

    40.9

    40.4

    39.9

    39.3

    Gross financing requirement

    18.0

    24.8

    21.0

    22.9

    21.2

    19.1

    20.0

    20.5

    20.1

    20.0

    19.8

    Monetary conditions (Percent)

    Real average cost of CBRT funding to banks

    5.4

    -1.7

    -1.9

    -59.4

    -35.4

    …

    …

    …

    …

    …

    …

    Growth of broad money (M2)

    27.3

    33.9

    53.0

    59.2

    70.1

    …

    …

    …

    …

    …

    …

    Growth of credit to private sector

    10.9

    34.7

    37.0

    54.7

    54.0

    …

    …

    …

    …

    …

    …

    Sources: Turkish authorities; and IMF staff estimates and projections.

    1/ Headline (or authorities’ definition), which includes items excluded from the IMF ‘program’ definition.

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summing ups can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm .

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Eva-Maria Graf

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

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2024/10/11/pr-24369-turkiye-imf-executive-board-concludes-2024-aiv-consultation

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Translation: 16/10/2024 There would be no economic miracle without the spirit of Polish entrepreneurship

    MIL AXIS Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    Prime Minister Donald Tusk participated in the Forum for New Ideas in Sopot, and discussed the history of Europe in Europe. This includes climate change, digital transformation, sustainable development and social innovation. According to the head of government, ensuring security and cheap, renewable energy will be key to Poland’s development. This will allow the spirit of Polish entrepreneurship, which has been the engine of economic growth in our country for 35 years, to continue to operate. The paramount role of energy security

    Currently, Poland’s voice in the EU on security matters, including energy security, is listened to by European leaders with the utmost attention.

    Today, no one questions that Poland’s voice regarding energy sovereignty was the voice of reason and strategic and geopolitical imagination.

    – said the Prime Minister to the participants of the European Forum for New Ideas.

    Donald Tusk thanked his predecessors, former Prime Ministers: Jerzy Buzek, Jan Krzysztof Bielecki and Waldemar Pawlak, who were present at the conference. Prime Minister Jerzy Buzek played a special role here, as he was the first to promote the idea of an energy union in the EU, or of Europe’s independence from uncertain and politically determined energy supplies.

    Entrepreneurial spirit – the engine of the Polish economic miracle

    As the Prime Minister pointed out, there would be no economic miracle in our country without the most important engine, which is the spirit of Polish entrepreneurship and the energy of people.

    The condition for the transformation phenomenon and the economic miracle that is happening and is happening before the eyes of the world was the regaining of freedom, building a state of law and searching for Poland’s place in the European community.

    – noted the head of government.

    This independence rebellion and great national solidarity were transformed into modern thinking that took into account values such as democracy, the rule of law, human rights and freedom.

    In this context, Donald Tusk mentioned the role of Leszek Balcerowicz, the author of the economic and political reform programme at the turn of the 1980s and 1990s.

    It is worth remembering that the creators of Polish independence and economic success were also those who today are paying a high price for it personally – and this is where their greatness lies.

    – said the head of government.

    A key role in building the foundations of a free Poland was also played by ordinary Polish entrepreneurs. According to the head of government, they are the ones who have the right to feel special satisfaction today, if the world says that Poland is one of the best places to invest.

    Renewable energy is a chance for Poland

    As the Prime Minister pointed out in Sopot, the development of renewable energy, i.e. modern wind turbines, is an undertaking that may decide on access to cheaper energy. This in turn is a key issue for consumers and entrepreneurs.

    The new wind turbines, built at sea, will ultimately generate a potential energy capacity of 18 gigawatts. This is 4 times more power than the planned nuclear power plant in Pomerania.

    – emphasized Donald Tusk.

    As he explained, Poland also needs the development of modern transmission networks. Hence the government’s decision to invest PLN 70 billion in the sector over the next decade.

    Another important issue will be the modernization of the windmills themselves.

    There is no need to build too many new windmills on the ground, since replacing the turbine with a modern one will give a 400-500 percent increase in the power of such a windmill

    – explained the Prime Minister.

    Another key energy investment will be the construction of nuclear power plants in Poland.

    The role of social dialogue

    The proper development of Poland also requires the existence of true social dialogue.

    I really want the dialogue between the executive power and entrepreneurs, managers and organizers of economic life to be real and not fake.

    – emphasized the head of government.

    He declared that he was open to all proposals. As an example, he pointed to the issue of migration.

    How to find the perfect balance between security, regaining control over borders, and a safe labor market

    – said the Prime Minister.

    As he explained, well-programmed migration, as a safeguard for the labour market in Poland, cannot rely on people who do not have qualifications coming to our country without any controls.

    The government will continue to work for Poland

    Referring to the anniversary of the October 15 elections, Donald Tusk pointed out that emotions and differences of opinion may always occur in the government, but that this will not prevent the cabinet from functioning efficiently.

    I want to say that the October 15 coalition, which thanks to millions of voters today has the honour of working in the government, this coalition – regardless of the circumstances – will implement its programme in solidarity, loyalty and determination.

    – assured the Prime Minister.

    The European Forum for New Ideas is an annual international conference held in Sopot. The conference promotes dialogue on the future of work, resource management and the role of enterprises in responsible development. It brings together leaders from various sectors, such as business, politics, science and non-governmental organizations. The forum attracts participants from all over Europe and beyond. It is organized by the Lewiatan Confederation.

    MILES AXIS

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

    MIL Translation OSI

  • MIL-OSI Translation: 16/10/2024 In Wrocław about 25 years of Poland at OTAN

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    The event was organized by the Jerzy Szmajdziński Foundation and the Military Academy of Land Forces. Among those invited to discuss the Alliance were, among others, former President of the Republic of Poland Aleksander Kwaśniewski – Chairman of the Council of the J. Szmajdziński Foundation, Ambajador Dr. Piotr Ogrodziński – President of the Board of the Confederation of Ambassadors of the Republic of Poland and the Rector of the Military Academy of Land Forces, Lieutenant General Dr. Marek Tomaszycki. Among the invited guests were also representatives of military units, universities and institutions, as well as local government authorities, as well as students of uniformed classes. During the meeting, for the efforts made for Poland’s accession to NATO, former President of the Republic of Poland Aleksander Kwaśniewski received a commemorative plaque from the Undersecretary of State in the Ministry of National Defense Stanisław Wziątek. – At that time, various concepts of ensuring Poland’s security clashed. Fortunately, the view of the need to join the North Atlantic Alliance prevailed (…) With hindsight, we can all see that the decisions taken at that time were not only effective, but above all the right ones – Aleksander Kwaśniewski emphasized in his speech, emphasizing the important role of the Alliance. Deputy Minister S. Wziątek, recalling the issues of negotiations at various levels of state authority, expressed pride in the fact that it was possible to reach an agreement at that time. – We would not be so strong if we had not managed to rise above the divisions. If it were not for the common concern of the then government, who unanimously chose the Polish raison d’état as the highest goal – said the deputy minister. The deputy head of the Ministry of National Defense also emphasized the important role of the ongoing modernization of the Polish army. – We are not strong to go to war, but so that no one attacks us. This is what deterrence policy is all about. During the meeting, conference participants answered questions about, among other things, the changes that have taken place in the 25 years since Poland joined the structures of the North Atlantic Alliance, the course of accession negotiations, cooperation with other countries for the sake of joining NATO and the prospects for further development of NATO structures. ***On July 25, 12 March 1999, we opened a new chapter in the history of Polish security. The status of a member of the North Atlantic Alliance remains one of the main pillars of Polish and European security policy. Article 5 of the Washington Treaty is a guarantee of our security, as well as the foundation of the Alliance’s deterrence force. For soldiers of the Polish Armed Forces, the 25 years of Poland’s presence in NATO have been a time of intensive service, dynamic development and building a strong position in NATO.

    MILES AXIS

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

    MIL Translation OSI

  • MIL-OSI Translation: 17/10/2024 The International Monetary Fund positively assesses the Polish economy

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    On Wednesday, October 17, 2024, the International Monetary Fund (IMF) completed its mission in Poland, presenting the conclusions and recommendations resulting from the annual economic review. After reviewing the country’s current economic situation and plans for economic, fiscal and monetary policy, the Fund’s experts positively assessed the state of the Polish economy. The mission took place on October 8-17, 2024 under Article IV of the IMF’s Statute. The International Monetary Fund positively assessed the state of the Polish economy. According to the Fund’s experts, Poland’s prospects have improved compared to last year, despite the difficult economic conditions in Europe and the ongoing war in Ukraine. According to the Minister of Finance, Andrzej Domański, the International Monetary Fund’s assessment confirms the stability and resilience of the Polish economy to global challenges. The report shows that Poland’s growth prospects are supported by the unblocked European Union funds, which, combined with a moderate level of debt, significant foreign exchange reserves and solid financial sector buffers, contributes to the economy’s recovery. Risks related to the geopolitical situation and the slowdown in Europe are effectively mitigated, providing grounds for optimism for the future.

    MILES AXIS

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

    MIL Translation OSI

  • MIL-OSI Security: Five Defendants Sentenced for Long-Running Bid-Rigging Conspiracy in Georgia Concrete Industry

    Source: United States Department of Justice Criminal Division

    Four executives and a corporation were sentenced for participating in a long-running conspiracy to fix prices, rig bids and allocate jobs for ready-mix concrete in the greater Savannah, Georgia area.

    James Clayton Pedrick, Gregory Hall Melton, John David Melton, Timothy “Bo” Strickland and Evans Concrete LLC were charged in September 2020 with conspiring to fix prices, rig bids and allocate jobs for the sale of ready-mix concrete used in residential, commercial and public projects. Pedrick, Strickland and Evans Concrete later pleaded guilty for their participation in this conspiracy. Gregory Hall Melton and John David Melton were convicted by a jury in the U.S. District Court in Savannah earlier this year. Argos USA LLC separately admitted to its role in the conspiracy and entered into a deferred prosecution agreement (DPA) with the Justice Department’s Antitrust Division in January 2021.

    Gregory Hall Melton was sentenced today to 41 months in prison, and three years of supervised release and to pay a $50,000 fine. John David Melton was sentenced today to 26 months in prison, three years of supervised release and to pay a $10,000 fine. The court previously sentenced Strickland to five months in prison and to pay $150,000 fine, Pedrick to one year of probation and Evans Concrete to pay a $2.7 million fine. Argos USA LLC paid a $20 million criminal penalty as part of its DPA.

    According to court documents, the defendants effectuated their conspiracy by coordinating the issuance of price-increase letters to customers, allocating specific ready-mix concrete jobs in the coastal Georgia area, and submitting bids to customers at collusive and noncompetitive prices. The charged conspiracy began as early as 2010 and continued until about July 2016.

    “These sentences reflect the egregious nature of rigging bids for materials like ready-mix concrete which are essential to the American economy,” said Deputy Assistant Attorney General Manish Kumar of the Justice Department’s Antitrust Division. “The Antitrust Division and its law enforcement partners will hold accountable those who seek to exploit the critical need for these materials to harm consumers.”

    “Concrete is an essential material in construction projects, with prices set in the free market by the forces of supply and demand,” said U.S. Attorney Jill E. Steinberg for the Southern District of Georgia. “However, the defendants in this case for several years illegally rigged the system to benefit themselves at the expense of customers and are being held accountable for their conduct.”

    “Activities related to bid-rigging and collusion do not promote an environment conducive to open competition which harms the consumer,” said Executive Special Agent in Charge Kenneth Cleevely of U.S. Postal Service’s Office of Inspector General (USPS OIG). “The sentencing in this case represents a win for all law enforcement agencies who investigate those who engage in this type of harmful conduct to ensure that justice is served.”

    “The sentences imposed today send a clear message to anyone who chooses corporate greed over open and fair competition,” said Special Agent in Charge Joseph Harris of the Department of Transportation’s Office of Inspector General (DOT OIG), Southern Region. “Our commitment to working with our law enforcement partners and DOJ’s Antitrust Division is unwavering as we continue to pursue and uncover corrupt conduct and hold companies that intentionally engage in wrongdoing accountable.”

    The FBI Washington Field Office, DOT OIG and USPS OIG investigated the case.

    Trial Attorney Patrick S. Brown and former Trial Attorney Julia M. Maloney of the Antitrust Division’s Washington Criminal Section and Assistant U.S. Attorney E. Greg Gilluly Jr. for the Southern District of Georgia prosecuted the case.

    Anyone with information on bid rigging, price fixing, market allocation or other anticompetitive conduct in the ready-mix concrete industry should contact the Antitrust Division’s Complaint Center at 888-647-3258 or visit http://www.justice.gov/atr/report-violations.

    MIL Security OSI –

  • MIL-OSI: Exosens announces agreement to acquire NVLS (Night Vision Laser Spain), specialist in night vision equipment

    Source: GlobeNewswire (MIL-OSI)

    EXOSENS ANNOUNCES AGREEMENT TO ACQUIRE NVLS (NIGHT VISION LASER SPAIN), SPECIALIST IN NIGHT VISION EQUIPMENT

    PRESS RELEASE
    MÉRIGNAC, FRANCE– MADRID, SPAIN, OCTOBER, 22nd 2024

    • Exosens announces having reached a definitive agreement to acquire Spanish-based NVLS, a specialist in night vision equipment, widening its optical and mechanical deep know-how
    • This acquisition will enable NVLS to develop its business in Spain, Latin America and Asia and will contribute to providing enhanced night vision solutions to Armed Forces.

    Exosens, a high-tech company focused on providing mission and performance-critical amplification, detection and imaging technology, today announces the signing of the acquisition of Spain-based company NVLS, a specialist developer and manufacturer of man-portable night vision and thermal devices.

    “With the acquisition of NVLS, we will enhance our long-term innovation capabilities for multi-sensor platforms using detectors and cameras made by Exosens.

    Serving and delivering large volumes of high-performance image intensifiers to all our customers and end-users remain our priority in the years to come. We are committed to our customers to maintain the same high level of service and support that we have thrived to constantly deliver as the reference ITAR-free image intensifier tube provider».” commented Jérôme Cerisier, CEO of Exosens.

    NVLS, based in Spain with 63 employees, has developed a strong expertise in the field of man-portable night vision equipment, offering ultra-compact large field of view devices that provide enhanced visibility for land and aviation missions. These devices have been introduced as the new standards within the Spanish Armed Forces, Customs Police and Guardia Civil.

    “We are very pleased to join Exosens group with which we have built a strong supplier relationship since many years. All our products lines have always been using Photonis image intensifier tubes which ensure a high level of image quality and reliability. We will continue to benefit from their extended sensors technology platform to develop a new generation of devices, bringing unrivaled performances to armed forces.” stated Jorge de la Torre, CEO of NVLS.

    The transaction is expected to be finalized in the coming months. Terms of the transaction are not being disclosed and are pending customary clearances and approvals.

    ABOUT EXOSENS:

    Exosens is a high‐tech company, with more than 85 years of experience in the innovation, development, manufacturing and sale of high‐end electro‐optical technologies in the field of amplification, detection and imaging. Today, it offers its customers detection components and solutions such as travelling wave tubes, advanced cameras, neutron & gamma detectors, instrument detectors and light intensifier tubes. This allows Exosens to respond to complex issues in extremely demanding environments by offering tailor‐made solutions to its customers. Thanks to its sustained investments, Exosens is internationally recognized as a major innovator in optoelectronics, with production and R&D carried out on 11 sites, in Europe and North America and with over 1,700 employees.

    Exosens is listed on compartment A of the regulated market of Euronext Paris ﴾Ticker: EXENS – ISIN: FR001400Q9V2﴿ and is a member of Euronext Tech Leaders segment.

    For more information: exosens.com

    Forward-looking statements

    Certain information included in this press release are not historical facts but are forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future business strategies and the environment in which Exosens operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to be materially different from the forward-looking statements included in this press release.

    Media contacts for Exosens:
    Brunswick group – exosens@brunswickgroup.com
    Laetitia Quignon, + 33 6 83 17 89 13
    Nicolas Buffenoir, + 33 6 31 89 36 78

    Attachment

    The MIL Network –

  • MIL-OSI New Zealand: Assessments – New Zealand, UK, and Australia lead global list of economies engaging in sustainable trade best practices

    Source: Hinrich-IMD Sustainable Trade Index 2024

    New Zealand has topped the Hinrich-IMD Sustainable Trade Index (STI) 2024 for the third consecutive year, with the United Kingdom (UK) following in second place and Australia securing third. 

    The Index measures how well trade contributes to mutually beneficial and balanced economic, social, and environmental outcomes among 30 trading economies. (ref. https://www.hinrichfoundation.com/research/wp/sustainable/sustainable-trade-index-2024 )

    New Zealand (first) retains its top spot for the third consecutive edition and leads the environmental dataset.

    The UK is second for the third edition in a row. However, it does perform worse than in 2023 in the economic dataset.

    Australia (third) has risen two positions since last year. Its greatest progress is in the environmental dataset.

    Crucially, building “workforce resilience” is becoming a major goal of governments and the private sector worldwide, the report signals. This means having a healthy, educated, and unexploited workforce, which allows economies to better withstand shocks and seize emerging opportunities. “National resilience” and “environmental resilience” are also key concerns.

    “Workforce resilience” is part of a broader trend to encourage “societal resilience,” the authors say. Societal resilience is the effect of investments that foster both economic and social stability. New Zealand, Canada, Australia, Taiwan, and Singapore do best here.

    The Index is a joint project between the Hinrich Foundation and the International Institute for Management Development (IMD) and is in its third year.

    It measures 30 economies, including members and applicants of major trade alliances, such as the Asia-Pacific Economic Cooperation (APEC), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP).

    “The STI allows us to track how effectively trading economies are meeting the three pillars of sustainability: economic growth, societal advancement, and environmental stewardship. Achieving balanced outcomes between the three pillars is essential for resilience,” said Kathryn Dioth, CEO of the Hinrich Foundation.

    “By investing in human capital, countries can build adaptable workforces capable of thriving amid economic fluctuations and global challenges,” said Christos Cabolis, Chief Economist of the IMD World Competitiveness Center, which led the research for IMD.

    Other major findings include:

    ·         Global trade is increasingly shaped by protectionist regulations, where economies favor policies that strengthen domestic industries and secure supply chains. This shift toward industrial policy, aimed at building economic resilience, marks a long-term trend, resulting in the fragmentation of the global trading system.

    ·         Addressing climate resilience is complex because tackling climate change often requires regulatory interventions, whereas global trade flourishes with fewer barriers. The emergence of climate and trade agreements that promote trade in environmental goods and services could balance the dual objectives of open trade while addressing climate change. 

    ·         A few mid-ranking economies have shown consistent progress or stability over the last three years (2022-2024). Amongst them, Thailand gained three spots in the STI from 2022 to reach 12th place this year, Vietnam recorded a six-place rise, and Chile held a steady position at 11th across the three years.

    The Index measures 72 data points, categorized into three “pillars”: economic, societal, and environmental, considered by the researchers to be the main axes of sustainable trade. They represent economic growth, societal well-being, and environmental stewardship, respectively.

    A new indicator measuring universal health coverage (UHC) from the WHO’s Global Health Observatory (GHO) was introduced to the societal pillar in this edition.

    About the Hinrich Foundation

    The Hinrich Foundation is an Asia-based philanthropic organization that works to advance mutually beneficial and sustainable global trade. We believe sustainable global trade strengthens relationships between nations and improves people’s lives. We support original research and education programs that build understanding and leadership in global trade. Our approach is independent, fact-based, and objective. We are an authoritative source of knowledge, sharp analysis, and fresh thinking for policymakers, business, media, and scholars engaged in global trade.

    hinrichfoundation.com

    MIL OSI New Zealand News –

  • MIL-OSI Russia: IMF Reaches Staff-Level Agreement with Tanzania on the Fourth Review of the Extended Credit Facility and the First Review of the Resilience and Sustainability Facility

    Source: IMF – News in Russian

    October 17, 2024

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

    • The Tanzanian authorities and the IMF have reached staff-level agreement on the fourth review under the Extended Credit Facility (ECF) and the first review under the Resilience and Sustainability Facility (RSF).
    • Economic growth momentum is picking up in 2024 with improved external and fiscal balances and low inflation. Policy priorities continue to be focused on enhancing exchange rate flexibility, strengthening the monetary policy framework, continuing to implement growth-friendly fiscal consolidation, enhancing domestic revenue mobilization, and expediting structural reform implementation.
    • The RSF is supporting the authorities’ efforts to advance structural reforms and investments in adaptation and mitigation to address risks and challenges associated with climate change.

    Washington, DC: A staff team from the International Monetary Fund (IMF) led by Mr. Charalambos Tsangarides, IMF mission chief for Tanzania, visited Dodoma and Dar es Salaam from October 2 to 17, 2024, to hold discussions with the authorities on the fourth review under the Extended Credit Facility (ECF) and the first review under the Resilience and Sustainability Facility (RSF). Subject to approval by the IMF Executive Board,  the review will make available SDR198.61 million (about US$265.78 million), bringing the total IMF financial support under the ECF arrangement to SDR568.84 million (about US$758.11 million), and SDR85.24 million (about US$114.07 million) under the RSF.

    At the conclusion of the mission, Mr. Tsangarides issued the following statement:

    “I am pleased to announce that the IMF team and the Tanzanian authorities have reached a staff-level agreement on the policies needed to complete the fourth review under Tanzania’s ECF-supported program, and the first review of the RSF arrangement. The IMF’s Executive Board will discuss these requests in the coming weeks.

    “The momentum in Tanzania’s economy is continuing in 2024 with economic activity growing at about 5.4 percent in the first half of 2024 after an annual growth of 5.1 percent in 2023. Inflation in September remained stable at 3.1 percent (yoy), well within the Bank of Tanzania (BoT) target. Earlier headwinds to the economy have subsided, and improved liquidity in the foreign exchange market has alleviated some of the shortage in the formal market, although pressures remain. The outlook is favorable, with growth expected to pick up to 5.4 percent in 2024; however, risks are tilted to the downside as intensification of regional conflicts, increased commodity price volatility, a global slowdown, reemergence of FX pressures in the first half of 2025, and climate related disasters, could weigh negatively on the economy.

    “The current account deficit improved markedly to about 3.1 percent of GDP in FY2023/24 from 6.5 percent of GDP the previous year, on the back of strong service exports growth and a slowdown in imports of goods and services helped by lower commodity prices. Improvements in the current account balance year-on-year, a 13 percent exchange rate depreciation over the same period, and the seasonal inflows of dollars in the second half of the year have helped ease some of the foreign exchange market pressures. The BoT remains committed to continue to allow exchange rate flexibility to ensure a market determined exchange rate, while limiting FX interventions to avoid disorderly market conditions, in line with its intervention policy. Maintaining a moderately tight monetary policy stance will complement efforts to ease pressures in the FX market, while preserving price stability.

    “Fiscal consolidation in FY2023/24 was achieved through improvements in tax revenue collections and adjustments in current spending. The FY2024/25 budget envisages continued growth-friendly consolidation, supported by tax policy and revenue administration efforts. The government is committed to increase priority social spending to protect the most vulnerable. The authorities’ structural reform agenda aims to support a resilient, sustainable, and inclusive growth through improving the business environment and strengthening governance.

    “At its meeting in October, the BoT Monetary Policy Committee maintained the policy rate, the Central Bank Rate, at 6 percent, to contain emerging inflationary pressures. The BoT will continue to calibrate its monetary policy to maintain low and stable prices, while safeguarding the recovery of economic activities from the impacts of global economic shocks and unfavorable weather conditions.

    “Supported by the RSF, the authorities are implementing their climate reform agenda to address climate policy challenges and enhance the resilience and sustainability of the Tanzanian economy. Efforts are underway to clearly define the institutional framework for climate change related policies and strengthen public investment management in line with climate impacts and risks. Progress on the implementation of the RSF reforms continues, and the authorities are mobilizing technical and financial assistance from development partners.

    “The mission met with Minister of Finance, Dr. Mwigulu Nchemba, Bank of Tanzania Governor, Mr. Emmanuel Tutuba, other senior officials, development partners, and private sector representatives. The IMF team would like to thank the Tanzanian authorities and other counterparts for their hospitality, and the candid and productive discussions.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Pavis Devahasadin

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

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2024/10/17/pr-24378-tanzania-imf-reaches-staff-level-agreement-on-the-4th-rev-of-ecf-and-1st-rev-of-rsf

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: EBC Financial Group Expands Partnership with DiNapoli’s Leading Indicators, Revealing Key Strategies for Navigating Black Swan Events

    Source: GlobeNewswire (MIL-OSI)

    TAIPEI, Taiwan, Oct. 22, 2024 (GLOBE NEWSWIRE) — EBC Financial Group (EBC), in partnership with DiNapoli Experts, is proud to host ‘Harnessing the Power of DiNapoli Indicators to Conquer Black Swan Events,’ an exclusive gathering that brought together financial experts, traders, investors, and economic strategists to explore key strategies for navigating volatile markets. This event, part of EBC’s broader commitment to thought leadership in finance, offered critical insights not only for traders but for those seeking a deeper understanding of global financial trends, including the impacts of geopolitical tensions, inflation, and the evolving role of technology in market prediction.

    Operating across global financial hubs such as London, Hong Kong, Tokyo, Singapore, and Sydney, EBC Financial Group is regulated by major international bodies, including the UK’s FCA, CIMA in the Cayman Islands, and ASIC in Australia. These credentials underscore the Group’s mission to deliver sound, ethical, and transparent financial services across key markets.

    With markets facing challenges from geopolitical instability, rising inflation, and shifting monetary policies, EBC’s commitment to investor empowerment and education stands firm. The discussions provided participants with exclusive insights into managing risk and seizing opportunities in global markets, and attendees engaged with some of the industry’s top experts, gaining hands-on insights into critical factors influencing today’s global markets.

    Building on the momentum from the successful signing ceremony in Thailand, where EBC Financial Group solidified its partnership with DiNapoli’s Leading Indicators, the Taiwan event marks a key milestone in EBC’s ongoing mission. Through this collaboration, EBC is empowering traders with advanced tools to navigate Black Swan events.

    Global Instabilities Threaten Market Stability: Insights from David Barrett
    David Barrett, CEO of EBC Financial Group (UK) Ltd, issued a stark warning about the growing economic fragility facing global markets. Speaking to an audience of financial professionals, Barrett highlighted that the Federal Reserve’s recent rate cuts have unsettled bond markets, exposing deep vulnerabilities in the global financial system. While the U.S. equity market has enjoyed a brief rally, Germany’s economic downturn threatens to spiral into a wider Eurozone crisis, Barrett explained.

    Barrett emphasised that the risks extend far beyond economics. Geopolitical conflicts—from the ongoing war in Ukraine to instability in the Middle East—are now global flashpoints, disrupting energy supplies and pushing commodity markets toward dangerous levels of volatility. According to Barrett, this combination of factors could drag the global economy into deeper, more unpredictable volatility, leaving even experienced investors facing unprecedented uncertainty.

    As part of the Group’s mission to help investors navigate these turbulent markets, Barrett reiterated EBC’s focus on providing cutting-edge trading tools and educational initiatives. EBC’s partnership with DiNapoli Indicators is instrumental in equipping traders with the tools necessary to interpret market movements, especially in unpredictable environments. By combining advanced predictive tools like DiNapoli Indicators with real-time market analysis, EBC is ensuring that traders are not only informed but prepared to respond to global financial shifts.

    EBC’s expansion into emerging markets and its commitment to establishing regulated entities in new jurisdictions also reflect the Group’s dedication to offering clients access to global trading opportunities. With its rapidly growing footprint, EBC continues to lead with integrity and transparency, providing traders worldwide with the tools to manage risk effectively.

    As the U.S. presidential election approaches, Barrett warned that this divisive political battle could be another major destabilising factor for markets, as investors brace for shifting economic policies and potential political upheaval.

    “We are not just seeing market volatility; we are looking at a perfect storm where geopolitical tensions, inflation, and monetary policies are converging like never before,” Barrett cautioned. He urged investors and traders to take urgent action, adapting to this new reality with precision, foresight, and advanced tools like DiNapoli Indicators to help navigate through the uncertainty. Without this, Barrett stated, market participants risk being left behind in a financial environment that demands data-driven decision-making and the ability to manage complex risks.

    Capturing Trading Opportunities: Jason Zeng on DiNapoli Indicators
    At the event, Jason Zeng, General Manager of Fibonacci Investment Consulting, LLC, presented the critical role that DiNapoli Indicators play in helping investors identify key market retracement points and timing trades effectively. Zeng, a long-standing expert in DiNapoli-Levels trading, explained how these indicators are not just tools for predicting price movements, but vital systems for managing risk and profitability in highly volatile markets.

    Zeng focused on how the Fibonacci-based DiNapoli Levels have been successfully applied to forecast market retracements in a range of asset classes, including equities, commodities, and currencies. He cited recent examples where DiNapoli Indicators enabled traders to accurately pinpoint entry and exit points, even in the face of significant market fluctuations caused by geopolitical instability and central bank policy shifts.

    “Traders who rely on these indicators can enhance their risk management and improve trade execution,” Zeng said. He highlighted the use of real-world case studies, showing how DiNapoli’s approach has repeatedly outperformed traditional technical analysis by offering actionable insights during times of heightened uncertainty.

    Zeng stressed that in today’s fast-moving financial markets, timing is everything, and DiNapoli Indicators offer the precision necessary to navigate the complexities of modern trading environments. According to Zeng, these indicators are essential for traders and financial professionals aiming to capture opportunities while minimising exposure to unpredictable market swings.

    As EBC continues to expand its operations across emerging markets, it remains committed to providing global traders with tailored tools and educational resources, ensuring that they are equipped to navigate both local and international market dynamics.

    Capital Markets Under Pressure: Dr. Hua-Shen Pan on Geopolitical Risks and Economic Countermeasures
    Dr. Hua-Shen Pan, an esteemed economic analyst and columnist, delivered a pointed examination of the global geopolitical risks that are currently shaping capital flows and investment strategies. Addressing the audience, Dr. Pan highlighted how geopolitical volatility has become a primary driver of market instability, overshadowing traditional economic indicators.

    Dr. Pan drew attention to China’s economic trajectory, which he identified as a critical factor influencing the global financial system. As the Chinese government introduces new stimulus measures, the global financial community is watching closely to gauge the effectiveness of these policies in stabilising the world’s second-largest economy.

    He further explained how geopolitical flashpoints, including the ongoing conflict in Ukraine and instability in the Middle East, are exacerbating energy price shocks and complicating efforts by central banks to control inflation. Dr. Pan highlighted the growing disconnect between economic fundamentals and market reactions, pointing out that traditional models of economic forecasting are struggling to account for the disruptive influence of geopolitical events.

    Dr. Pan argued that while geopolitical tensions will continue to be a source of market volatility, investors must adapt by focusing on risk management and long-term strategies that account for unpredictable economic shifts. He highlighted the importance of understanding how global policy responses—from Federal Reserve actions to China’s economic policy—will shape the investment landscape in the years to come.

    “Markets are no longer simply reacting to economic data,” Dr. Pan observed. “We are now in an era where geopolitical conflicts are driving capital decisions, and this requires a new strategic approach.”

    Navigating Post-Fed Market Reactions: Joseph AuXano’s Key Insights
    Joseph AuXano, Director of the DiNapoli Online Course (DAP), addressed one of the most pressing concerns for market participants—the aftermath of Federal Reserve rate cuts and their impact on market dynamics. AuXano demonstrated how DiNapoli Indicators can be used to accurately assess market reactions following Fed decisions, offering traders a powerful tool to anticipate volatility and make informed decisions.

    Through a detailed analysis of recent FOMC meetings, AuXano illustrated how major stocks, including Tesla and Nvidia, responded to rate cuts. He demonstrated how the MACD Predictor and DiNapoli Expansion tools provide crucial early signals, enabling traders to identify high-probability trades by spotting key support and resistance levels in advance.

    AuXano emphasised the importance of using multi-timeframe analysis, highlighting that relying solely on short-term trends leaves traders vulnerable to unpredictable market swings. By incorporating the DiNapoli Indicators, investors are better equipped to navigate both short-term fluctuations and long-term trends.

    “After each Fed decision, markets are often thrown into chaos, with unpredictable movements. But by using these tools, traders can stay one step ahead, reading market signals more effectively,” AuXano explained.

    He added, “Today’s economic forum has provided valuable insights into the various factors impacting markets, reading the markets by observing how price interacts with DiNapoli Indicators gives traders and investors an additional edge when seeking to navigate market volatility. It’s about staying disciplined and structured, especially in today’s economic and political climate, where interest rate changes and central bank policies play a key role.”

    Mitigating Algorithmic Trading Risks: Insights from Rich Wang
    Rich Wang, CTO of Provider Space, delved into the growing reliance on algorithmic trading and the risks that come with automated systems in today’s financial markets. Wang’s presentation centred on the need for robust risk management strategies that ensure consistent profitability, even as markets become increasingly volatile.

    Wang highlighted the advantages and dangers of algorithmic trading, explaining that while automation can enhance trading efficiency and speed, it also exposes traders to greater risk if not properly managed. He shared real-world examples of how market volatility can trigger automated systems to make rapid, high-stakes trades that can spiral into significant losses without adequate safeguards in place.

    Wang stressed the importance of incorporating stop-loss mechanisms and conducting thorough backtesting of algorithms to prevent systems from failing during market disruptions. He underscored that risk management needs to evolve alongside trading technology, particularly as markets become more sensitive to geopolitical events and central bank policy shifts.

    “Automation can give traders an edge, but only when combined with solid risk management frameworks,” Wang said. He demonstrated how the latest risk mitigation strategies can be integrated into automated trading systems, allowing traders to maintain control and reduce their exposure to sudden market shocks.

    Wrapping Up the Event
    The event provided a wealth of strategic insights, equipping market participants with the tools and knowledge necessary to navigate today’s volatile financial landscape. From geopolitical risks to algorithmic trading and Fed rate-cut reactions, the symposium underscored the importance of using advanced technical indicators, like DiNapoli Levels, to manage risk and seize market opportunities.

    As the global economic outlook remains uncertain, EBC Financial Group continues to lead the conversation around financial resilience, offering investors and traders the necessary foresight to adapt to these evolving challenges.

    For more information, high-resolution images, or speaker materials, please contact:

    Media Contact:
    Angela Wu
    Global Public Relations (Taiwan)
    angela.wu@ebc.com

    Chyna Elvina
    Global Public Relations Manager (APAC, LATAM)
    chyna.elvina@ebc.com

    Douglas Chew
    Global Public Relations Lead
    douglas.chew@ebc.com

    About EBC Financial Group
    Founded in the esteemed financial district of London, EBC Financial Group (EBC) is renowned for its comprehensive suite of services that includes financial brokerage, asset management, and comprehensive investment solutions. EBC has quickly established its position as a global brokerage firm, with an extensive presence in key financial hubs such as London, Hong Kong, Tokyo, Singapore, Sydney, the Cayman Islands, and across emerging markets in Latin America, Southeast Asia, Africa, and India. EBC caters to a diverse clientele of retail, professional, and institutional investors worldwide.

    Recognised by multiple awards, EBC prides itself on adhering to the leading levels of ethical standards and international regulation. EBC Financial Group’s subsidiaries are regulated and licensed in their local jurisdictions. EBC Financial Group (UK) Limited is regulated by the UK’s Financial Conduct Authority (FCA), EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA), EBC Financial Group (Australia) Pty Ltd, and EBC Asset Management Pty Ltd are regulated by Australia’s Securities and Investments Commission (ASIC).

    At the core of EBC Group are seasoned professionals with over 30 years of profound experience in major financial institutions, having adeptly navigated through significant economic cycles from the Plaza Accord to the 2015 Swiss franc crisis. EBC champions a culture where integrity, respect, and client asset security are paramount, ensuring that every investor engagement is treated with the utmost seriousness it deserves.

    EBC is the Official Foreign Exchange Partner of FC Barcelona, offering specialised services in regions such as Asia, LATAM, the Middle East, Africa, and Oceania. EBC is also a partner of United to Beat Malaria, a campaign of the United Nations Foundation, aiming to improve global health outcomes. Starting February 2024, EBC supports the ‘What Economists Really Do’ public engagement series by Oxford University’s Department of Economics, demystifying economics, and its application to major societal challenges to enhance public understanding and dialogue.

    https://www.ebc.com/

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/564383fa-f7de-4825-8a3d-d644cd768c51
    https://www.globenewswire.com/NewsRoom/AttachmentNg/fd1d9d72-b653-4979-ba30-f35bb4ed4402
    https://www.globenewswire.com/NewsRoom/AttachmentNg/f89d66ee-0f78-44df-8b49-fe8f8d96d3aa

    The MIL Network –

  • MIL-OSI: Volta Finance Limited Annual Financial Report and Notice of Annual General Meeting

    Source: GlobeNewswire (MIL-OSI)

    Volta Finance Limited (VTA/VTAS)
    Legal Entity Identification Code: 2138004N6QDNAZ2V3W80

    Publication of the Annual Report and Audited Financial Statements
    (the “Accounts”) for the financial year ended 31 July 2024 and
    Notice of the Annual General Meeting

    NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO
    THE UNITED STATES

    *****

    Guernsey, 22 October 2024

    Volta Finance Limited has published its results for the financial year ended 31 July 2024. The 2024 Accounts are attached to this release and will be available on the Volta Finance Limited website (http://www.voltafinance.com).

    Notice of the Annual General Meeting of Volta Finance Limited on Thursday 5 December 2024 may be found at pages 86 and 87 of the Accounts.

    For further information, please contact:

    Company Secretary and Portfolio Administrator
    BNP Paribas S.A., Guernsey Branch
    guernsey.bp2s.volta.cosec@bnpparibas.com
    +44 (0) 1481 750 853

    Corporate Broker
    Cavendish Financial plc
    Andrew Worne
    Daniel Balabanoff
    +44 (0) 20 7397 8900

    For the Investment Manager
    AXA Investment Managers Paris
    François Touati

    francois.touati@axa-im.com
    +33 (0) 1 44 45 80 22

    *****
    ABOUT VOLTA FINANCE LIMITED

    Volta Finance Limited is incorporated in Guernsey under the Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange’s Main Market for listed securities. Volta’s home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.

    Volta’s Investment objectives are to preserve its capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis. The Company currently seeks to achieve its investment objectives by pursuing exposure predominantly to CLO’s and similar asset classes. A more diversified investment strategy across structured finance assets may be pursued opportunistically. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialised in structured credit, for the investment management of all its assets.

    *****

    ABOUT AXA INVESTMENT MANAGERS
    AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 2,850 professionals and €844 billion in assets under management as of the end of December 2023.

    *****

    This press release is published by AXA Investment Managers Paris (“AXA IM”), in its capacity as alternative investment fund manager (within the meaning of Directive 2011/61/EU, the “AIFM Directive”) of Volta Finance Limited (the “Volta Finance”) whose portfolio is managed by AXA IM.

    This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This document is not an offer for sale of the securities referred to herein in the United States or to persons who are “U.S. persons” for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or otherwise in circumstances where such offer would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration from the Securities Act. Volta Finance does not intend to register any portion of the offer of such securities in the United States or to conduct a public offering of such securities in the United States.

    *****

    This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance.

    *****
    This press release contains statements that are, or may deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “anticipated”, “expects”, “intends”, “is/are expected”, “may”, “will” or “should”. They include the statements regarding the level of the dividend, the current market context and its impact on the long-term return of Volta Finance’s investments. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. Volta Finance’s actual results, portfolio composition and performance may differ materially from the impression created by the forward-looking statements. AXA IM does not undertake any obligation to publicly update or revise forward-looking statements.

    Any target information is based on certain assumptions as to future events which may not prove to be realised. Due to the uncertainty surrounding these future events, the targets are not intended to be and should not be regarded as profits or earnings or any other type of forecasts. There can be no assurance that any of these targets will be achieved. In addition, no assurance can be given that the investment objective will be achieved.

    The figures provided that relate to past months or years and past performance cannot be relied on as a guide to future performance or construed as a reliable indicator as to future performance. Throughout this review, the citation of specific trades or strategies is intended to illustrate some of the investment methodologies and philosophies of Volta Finance, as implemented by AXA IM. The historical success or AXA IM’s belief in the future success, of any of these trades or strategies is not indicative of, and has no bearing on, future results.

    The valuation of financial assets can vary significantly from the prices that the AXA IM could obtain if it sought to liquidate the positions on behalf of the Volta Finance due to market conditions and general economic environment. Such valuations do not constitute a fairness or similar opinion and should not be regarded as such.

    Editor: AXA INVESTMENT MANAGERS PARIS, a company incorporated under the laws of France, having its registered office located at Tour Majunga, 6, Place de la Pyramide – 92800 Puteaux. AXA IMP is authorized by the Autorité des Marchés Financiers under registration number GP92008 as an alternative investment fund manager within the meaning of the AIFM Directive.

    *****

    Attachment

    The MIL Network –

  • MIL-OSI: Innofactor Plc: Cancellation of treasury shares

    Source: GlobeNewswire (MIL-OSI)

    Innofactor Plc Total number of voting rights and capital, on October 22, 2024, at 9:00 Finnish time

    The Board of Directors of Innofactor Plc has decided to cancel a total of 554,372 Innofactor shares currently owned by the Company. The treasury shares to be cancelled were acquired within the Company’s acquisition of own shares announced by the Company on July 20, 2023.

    The cancellation will be entered in the trade register maintained by the Finnish Patent and Registration Office approximately by the end of November. Prior to the cancellation of the own shares, there are in total 36,343,691 registered shares in Innofactor. After the cancellation has been registered in the trade register, the total number of shares in Innofactor is 35,789,319 and the total number of votes attached to the shares is 35,789,319.

    After the cancellation, Innofactor Plc doesn’t hold any shares in the Company. The cancellation of the shares has no effect on the share capital of Innofactor Plc.

    Espoo, October 22, 2024

    INNOFACTOR PLC

    Board of Directors 

    Additional information:
    Sami Ensio, CEO
    Innofactor Plc
    Tel. +358 50 584 2029
    sami.ensio@innofactor.com

    Distribution:
    NASDAQ Helsinki
    Main media
    http://www.innofactor.com

    Innofactor
    Innofactor is the leading driver of the modern digital organization in the Nordic Countries for its about 1,000 customers in commercial and public sector. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor has about 600 enthusiastic and motivated top specialists in Finland, Sweden, Denmark and Norway. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ Helsinki Oy. http://www.innofactor.com #ModernDigitalOrganization #PeopleFirst #CreatingSmiles #BeTheRealYou

    The MIL Network –

  • MIL-OSI: Agillic releases Q3 2024 financial report with 8% decrease in ARR from Subscriptions YoY, EBITDA of DKK 1.8 million and DKK 6.7 million in cash flow from operations

    Source: GlobeNewswire (MIL-OSI)

    Announcement no. 07 2024

    Copenhagen – 22 October 2024 – Agillic A/S

    ARR from subscriptions YTD decreased 8% primarily due to clients’ technology consolidations in Q1 2024. ARR from subscriptions increased modestly by 2% in Q3 2024 vs. Q2 2024. Agillic maintains its 2024 guidance due to expected growth from both existing clients and new sales in Q4 2024. Cash flow from operations was DKK 6.7 million in Q3 2024, an increase of DKK 12.6 million YoY.

    Key financial and SaaS highlights
    (DKK million)

    Income statement YTD 2024 YTD 2023 Change Q3 2024 Q3 2023 Change  
    Revenue Subscriptions 37.0 40.2 -8% 12.1 13.6 -11%  
    Revenue Transactions 7.4 9.1 -19% 2.7 3.0 -10%  
    Other revenue 0.0 0.0 n/a 0.0 0.0 n/a  
    Total revenue 44.4 49.3 -10% 14.8 16.6 -11%  
    Gross profit  36.1 39.6 -9% 11.7 13.4 -13%  
    Gross margin 81% 80% – 79% 81% –  
    Other operating income 0.6 0.5 20% 0.2 0.2 0%  
    Employee costs -23.7 -26.0 9% -7.1 -7.9 10%  
    Operational costs -11.2 -10.6 -6% -3.6 -3.2 -13%  
    EBITDA 1.8 3.5 -49% 1.2 2.5 -52%  
    Net profit 1.2 -5.1 n/a -2.4 -0.4 -500%  
                   
    Financial position              
    Cash 3.7 11.5 -68% 3.7 11.5 -68%  
                 
    ARR development            
    ARR Subscriptions 52.5 56.8 -8% 52.5 56.8 -8%
    ARR Transactions 10.6 12.1 -12% 10.6 12.1 -12%
    Total ARR 63.1 68.9 -8% 63.1 68.9 -8%
    Change in ARR -5.8 2.5 – 1.4 2.5 –
    Change in ARR % -8% 4% – 2% 4% –

    Reclassification between other operating income, employee costs, and operational costs is updated in 2023 figures.

    ARR
    ARR from subscriptions decreased 8% YoY which was related to clients’ business and technology consolidation and in line with our expectations. ARR from transactions decreased 12% YoY as a consequence of lower volumes due to geopolitical factors. The decline in ARR mainly happened in Q1 2024, while ARR increased modestly in Q3, and we expect both ARR from subscriptions and ARR from transactions to increase further in Q4 2024.

    Revenue
    Total Revenue decreased 10% YoY related to the decrease in ARR. Total Revenue is expected to increase in Q4 2024.

    EBITDA
    EBITDA YTD was negatively impacted by the decrease in revenue and by an increase in operational costs related to a one-time cost of DKK 1.0 million for consultancy services. However, with an increase in the gross margin from 80% to 81% YTD, and a decrease in employee costs, we delivered a positive EBITDA in Q3 2024 YTD of DKK 1.8 million.

    Cash
    At the end of Q3, at the cash position was DKK 3.7 million in line with expectations. This was primarily a result of an increase in cashflow from operations to DKK 6.7 million (Q3 2023: DKK -5.9 million).

    Financial guidance 2024 (unchanged)

    Revenue DKK million 62 to 66
    EBITDA – 0 to 2
    ARR Subscriptions – 56 to 60
    ARR Transactions – 10 to 14
    Total ARR – 66 to 74

    For further information, please contact:
    Emre Gürsoy, CEO
    +45 30 78 42 00
    emre.gursoy@agillic.com

    Claus Boysen, CFO
    +45 28 49 18 46
    claus.boysen@agillic.com

    Certified Adviser
    John Norden, Norden CEF A/S

    Disclaimer
    The forward-looking statements regarding Agillic’s future financial situation involve factors of uncertainty and risk, which could cause actual developments to deviate from the expectations indicated. Statements regarding the future are subject to risks and uncertainties that may result in considerable deviations from the presented outlook. Furthermore, some of these expectations are based on assumptions regarding future events, which may prove incorrect. Please also refer to the overview of risk factors in the ‘risk management’ section of the annual report.

    About Agillic A/S
    Agillic is a Danish software company offering brands a platform through which they can work with data-driven insights and content to create. automate and send personalised communication to millions. Agillic is headquartered in Copenhagen, Denmark, with teams in Germany, Norway, and Romania.
    For further information, please visit http://www.agillic.com  

    Appendix: Financial development per quarter

     DKK million   2024   2023   2022
                                     
    INCOME STATEMENT   Q3 Q2 Q1   FY Q4 Q3 Q2 Q1   FY Q4 Q3 Q2 Q1
    Revenue Subscriptions   12.1 12.3 12.6   52.4 12.2 13.6 13.5 13.1   49.9 13.5 13.1 12.2 11.1
    Revenue Transactions   2.7 2.5 2.2   12.0 2.9 3.0 2.9 3.2   16.7 6.0 4.8 3.3 2.6
    Other revenue   0.0 0.0 0.0   0.3 0.3 0.0 0.0 0.0   0.4 0.0 0.0 0.1 0.3
    Total revenue   14.8 14.8 14.8   64.7 15.4 16.6 16.4 16.3   67.0 19.5 17.9 15.6 14.0
    Gross profit    11.7 12.1 12.3   52.2 12.6 13.4 13.2 13.0   49.6 15.5 11.4 11.7 11.0
    Gross margin   79% 82% 83%   81% 82% 81% 80% 80%   74% 80% 63% 75% 78%
    Other operating income   0.2 0.2 0.2   0.6 0.1 0.2 0.2 0.1   0.3 0.3 0.0 0.0 0.0
    Employee costs   -7.1 -8.0 -8.6   -36.8 -10.8 -7.9 -9.4 -8.7   -32.5 -9.2 -7.3 -8.0 -8.0
    Operational costs   -3.6 -4.3 -3.3   -14.1 -3.5 -3.2 -3.0 -4.4   -16.3 -5.1 -2.7 -3.7 -4.8
    EBITDA   1.2 0.0 0.6   1.9 -1.6 2.5 1.0 0.0   1.1 1.5 1.4 0.0 -1.8
    Net profit   -2.4 7.0 -3.4   -27.5 -22.4 -0.4 -1.8 -2.9   -10.6 -2.0 -1.2 -2.7 -4.7
     

    BALANCE SHEET

    		                
    Cash   3.7 4.4 7.2   9.8 9.8 11.5 18.3 26.9   7.4 7.4 1.8 12.6 7.5
    Total assets   42.8 45.8 51.5   47.1 47.1 64.9 69.0 75.8   52.8 52.8 54.0 58.7 55.4
    Equity   -17.8 -16.0 -23.6   -20.2 -20.2 1.5 1.8 3.4   -15.0 -15.0 -13.2 -12.0 -9.6
    Borrowings   19.1 21.4 24.3   23.7 23.7 23.0 24.2 25.7   24.3 24.3 23.7 26.1 26.4
    CASH FLOW                
    Cash flow from operations   4.1 2.6 0.0   -6.5 -0.6 -2.8 -4.3 1.2   3.1 7.3 -4.9 9.0 -8.3
    Cash flow from investments   -2.6 -2.7 -3.0   -11.7 -2.1 -3.1 -3.2 -3.3   -13.5 -3.3 -3.3 -3.7 -3.2
    Cash flow from financing   -2.2 -2.7 0.4   20.6 1.0 -0.9 -1.1 21.6   -2.8 1.6 -2.5 -0.2 -1.6
    Net cash flow   -0.7 -2.8 -2.6   2.4 -1.7 -6.8 -8.6 19.5   -13.2 5.6 -10.8 5.1 -13.1
    EMPLOYEES & CLIENTS                
    Employees end of period   40 39 41   50 50 50 50 46   48 48 47 51 47
    Clients end of period   114 113 116   122 122 120 120 118   118 118 111 108 105
     

    ARR & SAAS METRICS

    		                
    ARR Subscriptions   52.5 51.7 52.2   57.8 57.8 56.8 54.9 54.2   54.1 54.1 50.3 49.6 48.5
    ARR Transactions   10.6 10.0 8.9   12.3 12.3 12.1 11.5 17.3   22.6 22.6 19.6 14.6 10.3
    Total ARR   63.1 61.7 61.1   70.1 70.1 68.9 66.4 72   76.7 76.7 69.9 64.2 58.8
    Change in ARR (DKK)   1.4 0.6 -9.0   -6.6 1.2 2.5 -5.1 -5.2   21.0 6.8 5.7 5.4 3.1
    Change in ARR %   2% 1% -13%   -9% 2% 4% -7% -7%   38% 10% 9% 9% 6%
    Average ARR   0.6 0.5 0.5   0.6 0.6 0.6 0.6 0.6   0.6 0.6 0.6 0.6 0.6
    Yearly CAC   – – –   0.2  – – – –   0.1 – – – –
    Months to recover CAC   – – –   6 – – – –   3 – – – –

    Definitions

    • Cash is defined as available funds less bank overdraft withdrawals.
    • ARR: the annualised value of subscription agreements and transactions at the end of the actual reporting period.
    • Average ARR: the average Total ARR per client.
    • Customer Acquisition Costs (CAC): the sales and marketing cost (inclusive salaries, commissions, direct and share of costs of office) divided by the number of new clients. CAC is calculated end of year.
    • Months to recover CAC: the period in months it takes to generate sufficient gross profit from a client to cover the acquisition cost.

    Published on 22 October 2024

    Attachment

    The MIL Network –

  • MIL-OSI China: ROC (Taiwan) government donates US$800,000 to assist US with reconstruction efforts following Hurricane Helene

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    ROC (Taiwan) government donates US$800,000 to assist US with reconstruction efforts following Hurricane Helene

    • Date：2024-10-12
    • Data Source：Public Diplomacy Coordination Council

    October 12, 2024

    No. 350

    On the evening of September 26, category 4 Hurricane Helene hit Florida and continued on to ravage many other southeastern states in the United States, causing over 230 deaths and US$30 billion in damages thus far. The ROC (Taiwan) government is donating US$800,000 to assist local governments and residents with the recovery efforts, with US$300,000 earmarked for Florida and North Carolina each and US$200,000 for Georgia. It is hoped that these funds will help victims return to normal life as soon as possible. 

    As Taiwan is typically struck by typhoons every year in summer and fall, the people and government of Taiwan empathize with the people of the southeastern US regarding the great loss in life and property caused by Hurricane Helene. To promptly extend a helping hand, Taiwan’s offices in Miami and Atlanta will consult with related US agencies so that the funds will be publicly donated to special accounts dedicated to assisting local residents in reconstructing their homes. (E) 

    MIL OSI China News –

  • MIL-OSI China: MOFA response to UK Foreign, Commonwealth and Development Office expressing serious concern over China’s joint military drills around Taiwan

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA response to UK Foreign, Commonwealth and Development Office expressing serious concern over China’s joint military drills around Taiwan

    October 15, 2024  

    The UK Foreign, Commonwealth and Development Office issued a press statement on October 14 expressing concern over China’s military exercises around Taiwan and adding that these exercises increased tensions and risked dangerous escalation in the Taiwan Strait. In the statement, the United Kingdom reaffirmed its interest in peace and stability in the Taiwan Strait, which it said was of critical importance to global prosperity. The statement reiterated that the Taiwan issue should be settled by people on both sides of the Taiwan Strait through dialogue, without the threat or use of force or coercion. It further said that the United Kingdom did not support any unilateral attempts to change the status quo and called for restraint and the avoidance of any actions that might undermine peace and stability.

     

    The Ministry of Foreign Affairs sincerely appreciates that the UK government has continued to pay close attention to developments across the Taiwan Strait and clearly spelled out the importance of cross-strait peace and stability to global affairs. As a responsible member of the international community, Taiwan will continue to work with like-minded partners to jointly safeguard the rules-based international order. It also hopes that democracies around the world will stand together in urging China to exercise reason and restraint and to stop threatening Taiwan and unilaterally escalating regional tensions. 

    MIL OSI China News –

  • MIL-OSI Asia-Pac: MOFA response to UK Foreign, Commonwealth and Development Office expressing serious concern over China’s joint military drills around Taiwan

    Source: Republic of China Taiwan 3

    MOFA response to UK Foreign, Commonwealth and Development Office expressing serious concern over China’s joint military drills around Taiwan

    October 15, 2024  

    The UK Foreign, Commonwealth and Development Office issued a press statement on October 14 expressing concern over China’s military exercises around Taiwan and adding that these exercises increased tensions and risked dangerous escalation in the Taiwan Strait. In the statement, the United Kingdom reaffirmed its interest in peace and stability in the Taiwan Strait, which it said was of critical importance to global prosperity. The statement reiterated that the Taiwan issue should be settled by people on both sides of the Taiwan Strait through dialogue, without the threat or use of force or coercion. It further said that the United Kingdom did not support any unilateral attempts to change the status quo and called for restraint and the avoidance of any actions that might undermine peace and stability.
     
    The Ministry of Foreign Affairs sincerely appreciates that the UK government has continued to pay close attention to developments across the Taiwan Strait and clearly spelled out the importance of cross-strait peace and stability to global affairs. As a responsible member of the international community, Taiwan will continue to work with like-minded partners to jointly safeguard the rules-based international order. It also hopes that democracies around the world will stand together in urging China to exercise reason and restraint and to stop threatening Taiwan and unilaterally escalating regional tensions. 

    MIL OSI Asia Pacific News –

  • MIL-OSI: Siili Solutions Plc, Business review, 1 January–30 September 2024

    Source: GlobeNewswire (MIL-OSI)

    Siili successfully launched the implementation of its new strategy in challenging market conditions

    Siili Solutions Plc Stock Exchange Release 22 October 2024 at 9:45 am EEST

    Key figures

    EUR million Q3/2024 Q3/2023 Q1-Q3/2024 Q1-Q3/2023
    Revenue 24.1 27.0 83.3 92.3
    Revenue growth. EUR million -2.9 0.1 -9.0 6.5
    Revenue growth. % -10.8% 0.5% -9.8% 7.6%
    Organic revenue growth. EUR million -2.9 -1.2 -9.0 2.3
    Organic revenue growth. % -10.8% -4.1% -9.8% 2.6%
    Adjusted EBITA 0.7 1.3 4.0 6.3
    Adjusted EBITA. % of revenue 2.9% 4.7% 4.8% 6.8%
    EBITA 0.7 1.3 3.4 6.3
    EBITA. % of revenue 2.9% 4.7% 4.1% 6.8%
    Average number of employees during the period 956 1,057 976 1,049
    Number of employees at the end of the period 945 1,053 945 1,053
    Number of full-time employees (FTE) at the end of the period 909 1,023 909 1,023
    Number of full-time subcontractors (FTE) at the end of the period 148 172 148 172

     

    Key events in July-September:

    • On 13 August 2024, Siili published its new strategy placing AI and data at its core.
    • On 17 September 2024 Siili published a profit warning and lowered its financial guidance for 2024 revenue and adjusted EBITA.
    • Activity in sales created good ground for strategy implementation.

    Outlook for 2024:

    The updated financial guidance of revenue for 2024 is expected to be EUR 106–116 million and adjusted EBITA EUR 4.5–6.5 million.

    The previous guidance for the current year’s revenue was EUR 120-140 million and adjusted EBITA EUR 7.5-10.5 million.

    CEO Tomi Pienimäki:

    In July–September, Siili continued to lay a solid foundation for the implementation of its new strategy in spite of challenging market conditions.

    Revenue for the third quarter declined 11% year-on-year, to stand at approximately EUR 24 million. Adjusted EBITA for the quarter was EUR 0.7 million and about 3% of revenue.

    The overall state of the IT service market has remained challenging, and recovery of the markets is taking longer than expected. Decision-making by customers on starting new projects continues to be slow, despite increased activity among customers. Against this backdrop, in September, we updated our guidance on revenue and adjusted EBITA for 2024.

    As an example of positive developments in sales, I would like to highlight a significant new customer in the German automotive industry, starting out with a contract of approximately EUR 8 million for the next five years. Siili was also selected by several industry-leading AI users as a partner in data and AI projects. Growth in this area is one of our strategic priorities. For the time being, AI projects tend to be small, but they represent important openings in building long-term partnerships. We have continued to strengthen the data and AI competencies of the Siili team, both by training the personnel and by new recruitments.

    In August, we announced a new strategy, placing artificial intelligence and data at its core. In October, we published a Handbook on AI-powered software development. In the book, our experts describe, in concrete terms, new ways of working that are already changing the way how the Siili team operates and that will strengthen our position as a leader in the utilisation of artificial intelligence in software development.

    In October, Siili appointed Maria Niiniharju as VP Private Business and member of management team. Niiniharju brings us strong experience in business development as well as valuable data and AI expertise, which is perfect fit to accelerate Siili’s strategy execution.

    Siili achieved 10th place in the Young Professional Attraction Index survey by Academic Work. Our goal is to be a community of top talent, and in line with our strategy, we will continue to endorse a strong corporate culture and continuous learning opportunities for the personnel.

    Siili will arrange a Capital Markets Day on 26 November 2024. In the event, we will describe our new strategy, our AI and data expertise as well as our financial standing.

    Despite the challenges of the operating environment, we believe in the normalisation of the markets, although the turnaround has been delayed. I want to extend my thanks to the entire Siili team and our customers for the past third quarter of the year. We are in a good position to continue the roll-out of our renewed strategy towards the end of the year.

    —

    This is not an interim report under IAS 34. The company complies with the half-yearly reporting requirements of the Securities Markets Act and publishes business reviews for the first three and nine months of the year, which present key information on the company’s financial performance. The financial information presented in this business review is unaudited.

    Further information:

    CEO Tomi Pienimäki

    Tel: +358 40 834 1399, email: tomi.pienimaki(at)siili.com

    CFO Aleksi Kankainen

    Tel: +358 40 534 2709, email: aleksi.kankainen(at)siili.com

    Distribution:

    Nasdaq Helsinki Ltd
    Main media
    http://www.siili.com/en

    Siili Solutions in brief:

    Siili Solutions Plc is a forerunner in AI-powered digital development. Siili is the go-to partner for clients seeking growth, efficiency and competitive advantage through digital transformation. Our main markets are Finland, the Netherlands, the United Kingdom, and Germany. Siili Solutions Plc’s shares are listed on the Nasdaq Helsinki Stock Exchange. Siili has grown profitably since its founding in 2005. http://www.siili.com/en

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    The MIL Network –

  • MIL-OSI Russia: Mikhail Mishustin appointed Oleg Kazanov as head of Rosnedra

    Translation. Region: Russian Federation –

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

    Order dated October 21, 2024 No. 2952-r

    Document

    Order dated October 21, 2024 No. 2952-r

    Oleg Kazanov has become the new head of the Federal Agency for Subsoil Use (Rosnedra). The order on his appointment was signed by Prime Minister Mikhail Mishustin. Evgeny Petrov, who headed Rosnedra, was relieved of his post at his request.

    Oleg Kazanov was born in the city of Otradny, Kuibyshev region. In 1996, he graduated from the geological faculty of St. Petersburg State University, studied in graduate school, and later worked as a teacher.

    In 2006, he moved to the Murmansk region, where he worked in various positions, including management positions, in companies engaged in geological exploration and mining.

    In 2017, Oleg Kazanov became the chief geologist – head of the department of the All-Russian Research Institute of Mineral Resources named after N.M. Fedorovsky. Two years later, he was appointed Deputy General Director for Geology.

    In 2020, Oleg Kazanov became the head of the institute. Under his leadership, VNII became one of the largest geological exploration service contractors in Russia, providing expert support for the activities of Rosnedra.

    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 Russia: NSU climbed to 50th place in the QS subject ranking of the best universities in the world in the field of “Petroleum Engineering”

    Translation. Region: Russian Federation –

    Source: Novosibirsk State University – Novosibirsk State University –

    Novosibirsk State University has improved its position in the subject ranking “Oil and Gas Engineering” of the QS World University Rankings. In 2023, it was in the 51-100 place, this year it rose to 50th place. In total, QS analyzed more than 1,100 educational organizations around the world to compile this subject ranking.

    When compiling the subject ranking in the direction of “Petroleum Engineering”, four factors were taken into account: academic reputation (its weight is 40%), reputation with employers (30%), citation rate (15%) and the scientometric indicator H-Index (Hirsch index; 15%). NSU showed the most significant movement in two parameters: academic reputation (formed on the basis of a survey of representatives of the academic community – global and Russian); and the Hirsch index.

    NSU is actively positioning itself not only as a leading educational, but also scientific and technological center. One of the leading areas is oil and gas. Recently, NSU has received patents for technologies and solutions that allow increasing oil production and reducing the costs of servicing oil wells. Among the developments is also a software and hardware complex for express diagnostics of the technical condition of pipeline transport structures. Leading players in the oil and gas industry are showing interest in these technologies.

    Since 2018, the Gazprom Neft-NSU scientific and educational center has been operating at NSU, where joint research and scientific projects of the oil company and the university are successfully developing. The Geological and Geophysical and Mechanics and Mathematics Faculties of NSU have master’s programs that train specialists in the field of petroleum engineering. In addition, within the framework of Priority 2030 programs The strategic project “Scientific Engineering” is being implemented, an important component of which is the creation of a single digital platform for geological exploration and development of oil and gas fields.

    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: Nokia and Lenovo join forces to drive advancements in data center solutions for the AI era

    Source: GlobeNewswire (MIL-OSI)

    Press release
    Nokia and Lenovo join forces to drive advancements in data center solutions for the AI era

    • Nokia and Lenovo partner to develop high-performance AI/ML data center solutions to meet growing workloads across industries and service providers.
    • Highly reliable, scalable and secure blue-print solutions are needed to support massive storage and high-speed data transfer inside and across data centers globally.

    22 October 2024
    Espoo, Finland – Nokia today announced a strategic partnership with Lenovo to create comprehensive data center networking and automation solutions that support the massive and highly precise compute, storage and transit needs for Artificial Intelligence, Machine Learning (AI/ML) and other compute-intensive workloads. These solutions will be jointly marketed to enterprises, telcos, and digital infrastructure and cloud providers.

    The partners will leverage the Lenovo ThinkSystem AI-ready portfolio of high-performance servers and storage with the Nokia Data Center network solution — which spans data center fabric, IP routing, and DDoS security portfolios, along with the recently announced data center network automation platform, Event-Driven Automation (EDA). The combined solutions will help meet the demanding processing and network performance requirements of modern workloads. As AI models are trained, data centers for inferencing will be needed where AI clusters are networked both within and between the data centers at the edge, which requires high-speed, reliable and secure interconnectivity.

    The integration of these portfolios with a validated blueprint architecture enables seamless automation of AI/ML and compute-intensive workloads with enhanced observability, programmability, and extensibility, which are crucial for adapting to dynamic environments. Both Nokia and Lenovo portfolios have built-in security solutions that detect and thwart security threats in real-time, which is essential to combat the scale and frequency of cyberattacks. As well, both companies focus on energy-efficient designs that reduce power consumption and operational costs while promoting sustainability – a key data center concern.

    Charles Ferland, Vice President Edge and Communications Service Providers at Lenovo, said: “Lenovo has a longstanding commitment to deliver the most reliable and sustainable AI infrastructure. Our partnership with Nokia to bundle AI solutions is a natural alignment. Together, we provide a robust platform that meets the needs of telecommunications and enterprise sectors, enabling them to deploy AI clouds and manage their data efficiently. With Nokia’s automated data fabric and Lenovo’s leading automated compute and storage solutions with industry-leading Neptune liquid cooling technology, enterprises can confidently deploy cutting-edge sustainable infrastructure. This collaboration not only generates cost savings but also opens new revenue streams for providers through innovative AI and data consumption models.

    Vach Kompella, Senior Vice President and General Manager of IP Networks business at Nokia, said: “Our partnership with Lenovo exemplifies Nokia’s commitment to innovation and excellence in data center solutions. By combining Nokia’s Data Center Fabric and Event Driven Automation with Lenovo’s ThinkSystem AI portfolio, we deliver a high performance, scalable data center networking solution designed to efficiently manage and automate AI/ML workloads, with a strong emphasis on security and energy efficiency. This collaboration not only enhances the performance and reliability of data center operations, but also underscores our dedication to providing innovative solutions that meet the evolving needs of our customers. Together, we are setting new standards in the industry and driving forward the future of data center technology.”

    Resources and additional information 
    Video: Nokia and Lenovo – A partnership driving advancements in data center solutions for the AI er
    Webpage: Data Center
    Product Page: Data Center Fabric
    Product Page: Event Driven Automation

    About Nokia 
    At Nokia, we create technology that helps the world act together. 

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.  

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Nokia, Corporate Communications
    Email: Press.Services@nokia.com

    Follow us on social media
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    The MIL Network –

  • MIL-OSI: JLT Mobile Computers upgrades its proven JLT1214™ Series forklift computers – the preferred solution for warehousing logistics operations

    Source: GlobeNewswire (MIL-OSI)

    The upgraded models in the Series come with faster processor, larger memory and Windows 11 for more efficient data handling, improved connectivity and better coverage – all you need for running a profitable warehouse operation!

    Växjö, Sweden, 15 October 2024 * * * JLT Mobile Computers, a leading supplier of rugged computers for demanding environments, announces the launch of its upgraded JLT1214™ Series rugged forklift computers. The Series has been selected by thousands of customers in the warehousing industry around the world thanks to its outstanding value in warehousing logistics applications. The upgraded JLT1214 Series provides the optimal, most hassle-free solution available for forklifts and other applications in the logistics and warehousing space.

    Leveraging three decades of rugged computing innovation to deliver the perfect forklift computer

    With three decades of relentless customer focus, JLT leverages its experience in the warehousing logistics industry to deliver the most appreciated and perfectly suited rugged forklift computers on the market. Throughout its extensive industry presence, JLT has continuously refined their engineering processes and made design enhancements based on customer feedback to meet the specific requirements in the warehousing space. Several of the highly appreciated features have been developed as a direct result of customer input after testing the devices in their operations mounted onto the forklifts.

    With its own engineering, test center and production facilities in Sweden, JLT uniquely controls every aspect of production with high precision. The computers are built from the ground up with the in-vehicle use-case in mind. The result is unprecedented quality and reliability, proven by the many customers selecting JLT1214 Series over other solutions after in-use testing as well as the increasing number of repeat customers.

    “Running a warehousing operation presents a range of challenges, including living up to customer expected service levels, moving goods efficiently, and flawless order fulfillment. JLT is all about delivering perfectly suited solutions to our customers to ensure hassle-free operations and thereby boosting their profitability,” says Per Holmberg, CEO at JLT Mobile Computers. “We understand the requirements and we have the expertise in product development and deployment to ensure the performance our customers ask for. That’s why we develop the most reliable rugged vehicle-mount computers, most recently – the upgraded JLT1214 Series optimized for the challenging environment in the warehousing logistics industry.”

    Key features and benefits:

    • Faster Processing Power: The upgraded Intel Atom® x6413E processor ensures faster task execution, optimizing the overall speed of warehouse operations.
    • Improved Memory: Standard 8GB DDR4 memory, with optional expansion up to 32GB, ensures the computer can handle complex warehouse management systems without performance slowdowns.
    • Wi-Fi 6E Connectivity: Enhanced Wi-Fi 6E technology improves coverage, provides more stable connections even in busy environments, and offers faster data transfer speeds, reducing network congestion and ensuring continuous productivity. Furthermore, Wi-Fi 6E improves data privacy and protection from cyber threats.
    • Future-Proof with Windows 11: The Series supports Windows 11, providing better resource management, enhanced security features, and a more efficient user interface.
    • Docking-free solution:
      • Everything you need integrated into the solution – no need for external adapters or cradle
      • Eliminates unnecessary downtime from unreliable cradle connections
      • Complete solution from one supplier – single point of contact
    • Virtually unbreakable display: The JLT PowerTouch™ display is virtually unbreakable, thereby overcoming the most common failure point for rugged computers. It also provides a user-friendly experience even with a gloved hand and is sunlight readable.

    Full product specification and more details available on the JLT1214 Series page. For more information about JLT Mobile Computers, its products and solutions, please visit jltmobile.com.

    About JLT Mobile Computers

    Reliable performance, less hassle. JLT Mobile Computers is a leading supplier of rugged mobile computing devices and solutions for demanding environments. In three decades of relentless customer focus, we’ve built a global presence, deployed tens of thousands of devices, and earned the trust of many Fortune 500 companies. Our many years of development and manufacturing experience have enabled us to set the standard in rugged computing, combining outstanding product quality with expert service, support and solutions to ensure trouble-free business operations for customers in warehousing, transportation, manufacturing, mining, ports and agriculture. We have our own R&D and production facilities in Sweden, enabling us to control every aspect of quality for ultimate performance in the toughest environments. JLT operates globally from offices in Sweden, France, and the US, complemented by an extensive network of sales partners in local markets. The company was founded in 1994, and the share has been listed on the Nasdaq First North Growth Market stock exchange since 2002 under the symbol JLT. Eminova Fondkommission AB acts as Certified Adviser. Learn more at jltmobile.com.

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