Category: European Union

  • 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: 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

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  • 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: 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

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  • 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.

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    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.

    *****

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  • 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

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  • 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

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    The MIL Network

  • 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

    Attachment

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  • 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.

    Attachment

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  • MIL-OSI Global: Paper mills: the ‘cartel-like’ companies behind fraudulent scientific journals

    Source: The Conversation – Indonesia – By Rizqy Amelia Zein, Lecturer in Social Psychology, Universitas Airlangga

    Science and Nature, two leading science journals, have revealed a growing problem: an alarming rise in fraudulent research papers produced by shady paper mill companies. This wave of fake studies is creating a major headache for the academic world, putting the integrity of global academic research at risk.

    Paper mill companies offer authorship services to researchers, academics, and students who want their names listed as an author of a scientific article published in reputable scientific journals.

    By paying around €180 to €5000 (approximately US$197 – $5472), a person can have their name listed as the author of research paper, without having to painstakingly do research and write the results. No doubt, some experts refer to these paper mills as illegal and criminal organizations.

    A 2023 research highlights a dramatic increase in fraudulent scientific artiles traced back to paper mills. In just five years, the numbers of retractions soared jumped from 10 in 2019 to 2,099 in 2023.

    Paper mills have also extremely overwhelmed major scientific journal publishers. Hindawi and Wiley, publishers of open access journals in the UK, for example, retracted around 1,200 paper mill articles in 2023. SAGE, a global publisher of books, journals and academic library resources and Elsevier, a scholarly publisher in the Netherlands also retracted hundreds of paper mill articles in 2022.

    Paper mills are found operating in countries whose research policies incentivise researchers to produce as many scientific articles as possible, such as China, Russia, India and Iran.

    However, their customer profile is quite diverse, from both developed and developing countries, including Indonesia, Malaysia, Germany, and the United States (US).

    Based on research data and investigative journalist reports from the last five years, I summarise how these paper mills operate and how to detect them.

    The paper mill playbook: tactics and oddities

    1. Problematic articles

    Paper mills generally manipulate the process of publishing scientific articles. These articles usually plagiarise other published articles, contain false and stolen data, or include engineered and duplicated images.

    They also offer to rewrite scientific articles using generative artificial intelligence tools, such as ChatGPT and Quillbot, or to translate published articles from other languages into English.

    2. A promised path to publication

    In some cases, paper mills offer authorship slots before an article is accepted for publication.

    In other cases, they offer authorship slots after the article is ready to be published by the journal.

    Therefore, it is not uncommon for paper mills to sell authorship slots with a guarantee that the article will definitely be published. In fact, according to the conventions generally accepted in the academic community, no well-run journal can give such a guarantee.

    Publishing decisions are normally made only after editors have considered the feedback from peer reviewers. This means, there is no possibility for a manuscript to secure acceptance before passing the peer review process.

    3. Fake reviews and corrupt deals

    Paper mills also offer a wide range of additional services. For example, they offer fake peer review services to convince potential buyers that the offered articles have passed rigorous review.

    To smooth the way for their operations, some paper mills even operate like a cartel, bribing rogue journal editors to ensure publication. A 2024 investigation by a Science journalist revealed that some scientific journal editors were offered as much as $20,000 to cooperate with these schemes. This investigation resulted in more than 30 editors of reputable international journals identified as involved in paper mill activities.

    4. Unusual collaboration patterns

    One of the peculiarities of paper mill articles is its strange mix of authors. An article on the activity of ground beetles attacking crops in Kazakhstan, for example, is written by authors who are neither affiliated with institutions in Kazakhstan nor experts in insects or agriculture. The authors’ backgrounds are suspiciously heterogeneous, ranging from anaesthesia, dentistry, to biomedical engineering.

    5. Anonymous co-authors

    Prospective customers of paper mill services usually have to agree to the rules of confidentiality. By agreeing to this rule, buyers have no idea which journal their article will target or who their co-authors will be. Often, the authors listed on the same paper don’t even know each other.

    Spotting the red flags: how to detect paper mills articles

    Detecting scientific articles produced by paper mills often begins with analyzing retraction patterns carried out by journals.

    This can be done in two ways: by tracking post-publication peer reviews on platforms like PubPeer, or by checking the Retraction Watch database, a website that documents retractions of problematic scientific articles.

    However, journals rarely state outright that a retraction is due to paper mill fraud. Instead, articles are typically pulled for reasons like improper inclusion of the name and order of authors, inclusion of many irrelevant citations or references, plagiarism, or inclusion of manipulated or duplicated images.

    The proportion of scientific articles retracted for being associated with paper mills is much smaller than the estimated total number of paper mill articles currently in circulation.

    Retraction Watch data, as of May 2024, only recorded 7,275 retractions of articles related to the paper mill out of a total of 44,000 retractions recorded. In fact, it is estimated that up to 400,000 paper mill articles have infiltrated scientific literature over the past two decades.

    Despite significant efforts from publishers and the academic community through organizations such as United2Act, a global alliance initiated by Committee on Publication Ethics (COPE) and STM, these attempts are barely enough.

    How paper mills hurt the public

    The UK Research Integrity Office—an independent UK charity that offers support to the public, researchers and organisations to promote good academic research practice—estimates that the paper mill industry has gained around $10 million globally.

    For example, a Russian paper mill could earn $6.5 million if they sold all the authorship of scientific articles it produced from 2019 to 2021.

    In Indonesia, this financial loss directly impacts the public. Public universities rely on the state budget, funded largely by taxpayers, and tuition fees from students to cover operational expenses, including research grants and publication incentives.

    Though the exact financial toll of these paper mills is hard to pin down, it is clear that the public are footing the bill for fraudulent research practices, siphoning resources away from enuin academic advancements.

    Rizqy Amelia Zein tidak bekerja, menjadi konsultan, memiliki saham, atau menerima dana dari perusahaan atau organisasi mana pun yang akan mengambil untung dari artikel ini, dan telah mengungkapkan bahwa ia tidak memiliki afiliasi selain yang telah disebut di atas.

    ref. Paper mills: the ‘cartel-like’ companies behind fraudulent scientific journals – https://theconversation.com/paper-mills-the-cartel-like-companies-behind-fraudulent-scientific-journals-230124

    MIL OSI – Global Reports

  • MIL-OSI: BW Energy: Invitation to Q4 2024 results presentation 31 January  

    Source: GlobeNewswire (MIL-OSI)

    Invitation to Q4 2024 results presentation 31 January  

    BW Energy will release its fourth quarter and preliminary full-year 2024 results on Friday, 31 January at 07:30 CET.  

    A conference call followed by Q&A will be hosted by CEO Carl K. Arnet, CFO Brice Morlot and COO Lin G. Espey the same day at 15:00 CET. 

    You can follow the presentation via webcast with supporting slides, available on: 

    Viewer Registration Q4 2024  

    https://events.webcast.no/viewer-registration/RLEuPs34/register 

    Call-in information 

    Participants dial in numbers: 

    DK: +45 7876 8490 

    SE: +46 8 1241 0952 
    NO: +47 2195 6342 
    UK: +44 203 769 6819 
    US: +1 646-787-0157 
    Singapore: 65-3-1591097 
    France: 33-1-81221259 

    PIN code: 980877 

    For further information, please contact:

    ir@bwenergy.no  


    About BW Energy:
     

    BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. BW Energy has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. BW Energy’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil and a 95% interest in the Kudu field in Namibia, all operated by BW Energy, as well as approximately 6.6% (on an undiluted basis) of the common shares of Reconnaissance Energy Africa Ltd. Total net 2P+2C reserves and resources were 580 million barrels of oil equivalent at the start of 2024.  

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

    The MIL Network

  • MIL-OSI: Falcon Oil & Gas Ltd. – Beetaloo Operational Update – Stimulation Campaign & Remaining Shenandoah South Pilot Project

    Source: GlobeNewswire (MIL-OSI)

    Falcon Oil & Gas Ltd.

    Beetaloo Operational Update – Stimulation Campaign & Remaining Shenandoah South Pilot Project

    24 January 2025 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce the commencement of stimulation campaign at the Shenandoah S2-2H ST1 (“S2-2H ST1”) and Shenandoah S2-4H (“S2-4H”) wells in the Beetaloo Sub-Basin, Northern Territory, Australia with Falcon Oil & Gas Australia Limited’s (“Falcon”) joint venture partner, Tamboran (B2) Pty Limited (collectively the “Beetaloo JV partners”).

    Key Highlights of the Stimulation Campaign

    • Stimulation campaign will be completed across:
      • S2-2H ST1’s horizontal section of 1,654 metres (5,427 feet) and;
      • S2-4H’s horizontal section of 2,977 metres (9,766 feet).
    • Liberty Energy (NYSE: LBRT) who mobilised equipment and sand to location before the end of last year will carry out the stimulation campaign on behalf of the Beetaloo JV partners.

    Shenandoah South Pilot Project (“Pilot”)
    For the next drilling phase of the Pilot, which involves the drilling and stimulation of the remaining four wells, Falcon has elected to reduce its participating interest (“PI”) from 5% to 0%.

    Key Highlights of the Reduced Participating Interest

    • The election by Falcon to reduce its PI to 0% in the remaining four wells of the Pilot will significantly reduce it’s 2025 capital expenditure.
    • Falcon participated in the Shenandoah S-1H well in 2023 at its 22.5% PI which created a Drill Spacing Unit (“DSU”) of 20,480 acres.
    • Falcon participated in the S2-2H ST1 and the S2-4H wells in 2024 at its reduced 5% PI which created two DSU’s totalling 46,080 acres.
    • The Beetaloo JV partners are planning on creating an enlarged area around the Pilot, known as the First Strategic Development Area (“FSDA”), which would amalgamate the acreage and PIs from the DSUs mentioned above and any further DSUs that may be created as part of the Pilot
    • Depending on the ultimate size of the planned FSDA Falcon’s combined participation entitlement in the FSDA post the Pilot could be up to 10%.
    • Falcon also retains a 22.5% PI in the remaining 4.52 million acres in the Beetaloo, net 1 million acres to Falcon.

    Philip O’Quigley, CEO of Falcon commented:

    We are extremely encouraged about the potential of the current stimulation program based on strong gas shows and other data observed whilst drilling both wells. In addition, we are very confident that the experienced US operator, Liberty Energy, will provide us with the greatest opportunity for the best possible outcome from this stimulation program. We look forward to updating the market on the IP30 flow test results as soon as they become available.

    Reducing our participation in the next four wells has a minimal impact on our overall interest in the Beetaloo which remains at 22.5%. This demonstrates the optionality afforded by the DSUs, which enable Falcon to strategically and efficiently deploy its capital. This reduction in our participation in the next four wells significantly reduces our 2025 capital expenditure whilst at the same time leaving us very well positioned to capture the overall success of the Beetaloo.
                                                 

    Ends.

    CONTACT DETAILS:

    Falcon Oil & Gas Ltd.          +353 1 676 8702
    Philip O’Quigley, CEO +353 87 814 7042
    Anne Flynn, CFO +353 1 676 9162
     
    Cavendish Capital Markets Limited (NOMAD & Broker)
    Neil McDonald / Adam Rae +44 131 220 9771
       

    This announcement has been reviewed by Dr. Gábor Bada, Falcon Oil & Gas Ltd’s Technical Advisor. Dr. Bada obtained his geology degree at the Eötvös L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG.

    About Falcon Oil & Gas Ltd.

    Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.

    Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd.

    For further information on Falcon Oil & Gas Ltd. Please visit http://www.falconoilandgas.com

    About Beetaloo Joint Venture (EP 76, 98 and 117)

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 22.5%
    Tamboran (B2) Pty Limited 77.5%
    Total 100.0%

    Shenandoah South Pilot Project -2 Drilling Space Units – 46,080 acres1

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 5.0%
    Tamboran (B2) Pty Limited 95.0%
    Total 100.0%

    1Subject to the completion of the SS2H ST1 and SS4H wells on the Shenandoah South pad 2.

    About Tamboran (B2) Pty Limited
    Tamboran (B1) Pty Limited (“Tamboran B1”) is the 100% holder of Tamboran (B2) Pty Limited, with Tamboran B1 being a 50:50 joint venture between Tamboran Resources Corporation and Daly Waters Energy, LP.

    Tamboran Resources Corporation, is a natural gas company listed on the NYSE (TBN) and ASX (TBN). Tamboran is focused on playing a constructive role in the global energy transition towards a lower carbon future, by developing the significant low CO2 gas resource within the Beetaloo Basin through cutting-edge drilling and completion design technology as well as management’s experience in successfully commercialising unconventional shale in North America.

    Bryan Sheffield of Daly Waters Energy, LP is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. (“PE”), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Natural Resources Company.

    Advisory regarding forward-looking statements
    Certain information in this press release may constitute forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information typically contains statements with words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “dependent”, “consider” “potential”, “scheduled”, “forecast”, “outlook”, “budget”, “hope”, “suggest”, “support” “planned”, “approximately”, “potential” or the negative of those terms or similar words suggesting future outcomes. In particular, forward-looking information in this press release includes, details on the commencement of stimulation activities at S2-2H ST1 and S2-4H and the respective horizontal sections; Liberty Energy conducting the stimulation campaign; Falcon’s election to reduce its PI for the remaining four wells in the Pilot and it significantly reducing 2025 capital expenditure; the planned creation of the FSDA and Falcon’s combined participation entitlement in the FSDA post the Pilot could be up to 10% with the planned amalgamation of the acreage and PIs.

    This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. The risks, assumptions and other factors that could influence actual results include risks associated with fluctuations in market prices for shale gas; risks related to the exploration, development and production of shale gas reserves; general economic, market and business conditions; substantial capital requirements; uncertainties inherent in estimating quantities of reserves and resources; extent of, and cost of compliance with, government laws and regulations and the effect of changes in such laws and regulations; the need to obtain regulatory approvals before development commences; environmental risks and hazards and the cost of compliance with environmental regulations; aboriginal claims; inherent risks and hazards with operations such as mechanical or pipe failure, cratering and other dangerous conditions; potential cost overruns, drilling wells is speculative, often involving significant costs that may be more than estimated and may not result in any discoveries; variations in foreign exchange rates; competition for capital, equipment, new leases, pipeline capacity and skilled personnel; the failure of the holder of licenses, leases and permits to meet requirements of such; changes in royalty regimes; failure to accurately estimate abandonment and reclamation costs; inaccurate estimates and assumptions by management and their joint venture partners; effectiveness of internal controls; the potential lack of available drilling equipment; failure to obtain or keep key personnel; title deficiencies; geo-political risks; and risk of litigation.

    Readers are cautioned that the foregoing list of important factors is not exhaustive and that these factors and risks are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at http://www.sedarplus.com, including under “Risk Factors” in the Annual Information Form.

    Any references in this news release to initial production rates are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter and are not necessarily indicative of long-term performance or ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for Falcon. Such rates are based on field estimates and may be based on limited data available at this time.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    The MIL Network

  • MIL-OSI Economics: Agnico Eagle Announces Successful Take-Up of 94.1% of the Shares of O3 Mining and Mandatory Extension of Offer to February 3, 2025

    Source: Agnico Eagle Mines

    • All-cash offer of $1.67 per share representing a 58% premium to O3 Mining’s closing price on December 11, 2024
    • Agnico Eagle has satisfied the minimum tender condition and has taken-up and acquired 94.1% of the outstanding O3 Mining shares
    • Shareholders who have not already tendered should do so as soon as possible to take advantage of the significant offer as their brokers, banks or other intermediaries likely have tendering cut-off times well in advance of the expiry time of 11:59 p.m. (EST) on February 3, 2025
    • Tender your shares today for prompt payment. Contact Laurel Hill Advisory Group for assistance at 1-877-452-7184 or email assistance@laurelhill.com

    (All amounts expressed in Canadian dollars unless otherwise noted)

    TORONTO, Jan. 24, 2025 /CNW/ – Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) (“Agnico Eagle“) and O3 Mining Inc. (TSXV: OIII, OTCQX: OIIIF) (“O3 Mining“) are pleased to jointly announce that Agnico Eagle has taken-up and acquired 110,424,431 common shares of O3 Mining (the “Deposited Shares“), representing approximately 94.1% of the outstanding common shares of O3 Mining (the “Common Shares“) on a basic basis, pursuant to its board-supported take-over bid (the “Offer“) for all of the outstanding Common Shares for $1.67 in cash per Common Share. The aggregate consideration payable for the Deposited Shares is $184,408,800. Agnico Eagle will pay for the Deposited Shares by January 28, 2025. All of the conditions of the Offer have been satisfied or waived.

    Agnico Eagle has extended the expiry time of the Offer by a mandatory period of 10 days to 11:59 p.m. (EST) on February 3, 2025 (the “Expiry Time“) in order to allow the remaining shareholders of O3 Mining to tender their Common Shares to the Offer and receive the all-cash offer price of $1.67 per Common Share.  

    O3 Mining’s President and Chief Executive Officer, Mr. José Vizquerra commented: “We are pleased to achieve this excellent and timely outcome for our shareholders who tendered their Common Shares to the Offer. While providing an opportunity for our shareholders to realize immediate value at a significant premium, the transaction will also enable the efficient advancement of the Marban Alliance project by Agnico Eagle, an experienced operator that has the financial strength, mining expertise and community commitment to take the project to its next stage of development.”

    Full details of the Offer are contained in Agnico Eagle’s take-over bid circular and in O3 Mining’s directors’ circular, which are available under O3 Mining’s profile on SEDAR+ (http://www.sedarplus.ca) and on O3 Mining’s and Agnico Eagle’s respective websites.  Agnico Eagle will file the Notice of Extension extending the Expiry Time to 11:59 p.m. (EST) on February 3, 2025 under O3 Mining’s profile on SEDAR+ (http://www.sedarplus.ca) and on O3 Mining’s and Agnico Eagle’s respective websites and mail the Notice of Extension to shareholders of O3 Mining in accordance with applicable law.  These materials contain important information on how to tender to the Offer.

    Next Steps and How to Tender Your Shares to Receive Prompt Payment

    Following the Expiry Time, Agnico Eagle intends to pursue a second-step transaction to acquire the remaining Common Shares not tendered to the Offer, as described in Agnico Eagle’s take-over bid circular available under O3 Mining’s profile on SEDAR+ (http://www.sedarplus.ca) and on O3 Mining’s and Agnico Eagle’s respective websites. 

    Remaining O3 Mining shareholders are strongly encouraged to tender their Common Shares to the Offer prior to the Expiry Time to ensure that they promptly receive the offer price of $1.67 per Common Share. O3 Mining shareholders whose Common Shares are held through a broker, bank or other intermediary should immediately contact that intermediary for assistance if they wish to accept the Offer – intermediaries have likely established tendering cut-off times that are prior to the Expiry Time.  Shareholders who do not tender prior to the Expiry Time will not receive payment for their Common Shares until the completion of the second-step transaction.

    For information on tendering your Common Shares, please contact Laurel Hill Advisory Group toll free at 1-877-452-7184 or by email at assistance@laurelhill.com.

    Shareholder type:

    How do I tender my Common Shares to the Agnico Eagle Offer?

    Beneficial

    Most O3 Mining shareholders are beneficial shareholders. This means your Common Shares are held through a broker, bank or other financial intermediary, and you do not have a share certificate or DRS advice.

    Contact your bank or your broker immediately and instruct them to tender your Common Shares to the Offer.

    Registered

    You are a registered shareholder if you hold your Common Shares directly and have a share certificate or DRS advice.

    Contact Laurel Hill Advisory Group:
    Phone: 1-877-452-7184
    Email: assistance@laurelhill.com

    For additional information regarding the Offer, please visit: https://www.agnicoeagle.com/Offer-for-O3-Mining/default.aspx and https://o3mining.com/agnico-eagle-mines-limited-offer-for-o3-mining-inc/.

    O3 Mining Board Transition

    In connection with the successful take-up of the Deposited Shares under the Offer, the board of directors of O3 Mining was reconstituted to include representatives of Agnico Eagle.  The O3 Mining board of directors is now comprised of continuing directors Amy Satov and Bernardo Alvarez Calderon and Agnico Eagle representatives Peter Netupsky, Carol Plummer, Jean Robitaille and Chris Vollmershausen.  Peter Netupsky is Vice President, Corporate Development of Agnico Eagle; Carol Plummer is Executive Vice President, Sustainability, People & Culture of Agnico Eagle; Jean Robitaille is Executive Vice President, Chief Strategy & Technology Officer of Agnico Eagle; and Chris Vollmershausen is Executive Vice President, Legal, General Counsel & Corporate Secretary of Agnico Eagle.

    At Agnico Eagle’s request, José Vizquerra and Elijah Tyshynski will continue in their roles as President and Chief Executive Officer and as Chief Financial Officer and Corporate Secretary of O3 Mining, respectively, until the completion of the second-step transaction.

    Additional Early Warning Disclosure Regarding O3 Mining

    Immediately prior to the take-up of the Deposited Shares under the Offer, Agnico Eagle beneficially owned, and exercised control and direction over, 1,057,753 Common Shares, representing approximately 0.9% of the issued and outstanding Common Shares on a basic basis, and 270,000 Common Share purchase warrants (the “Warrants“) exercisable for an aggregate of 270,000 Common Shares at an exercise price of $1.45 per Warrant.  In addition, Agnico Eagle held a convertible senior unsecured debenture in the principal amount of $10,000,000 dated June 19, 2023 (the “Convertible Debenture“).  Assuming the full exercise of all Warrants held by Agnico Eagle and the full conversion of the Convertible Debenture immediately prior to the take-up of Common Shares under the Offer, Agnico Eagle would beneficially own, and exercise control and direction over, 6,205,802 Common Shares, representing approximately 5.1% of the issued and outstanding Common Shares on a partially-diluted basis.

    Agnico Eagle acquired 110,424,431 Deposited Shares pursuant to the Offer, representing all of the Common Shares validly deposited and not withdrawn as of 11:59 p.m. (EST) on January 23, 2025, for aggregate consideration of $184,408,800 in cash.  As a result, as of the date hereof, Agnico Eagle beneficially owns, and exercises control and direction over, an aggregate of 111,482,184 Common Shares, representing approximately 95% of the issued and outstanding Common Shares on a basic basis.  Assuming the full exercise of all Warrants held by Agnico Eagle and the full conversion of the Convertible Debenture, Agnico Eagle would beneficially own, and exercise control and direction over, 116,630,233 Common Shares, representing approximately 95.2% of the issued and outstanding Common Shares on a partially-diluted basis.

    Early Warning Disclosure Regarding Cartier Resources

    Immediately prior to the take-up of the Deposited Shares under the Offer, (i) Agnico Eagle beneficially owned, and exercised control and direction over, 50,749,679 common shares (the “Cartier Shares“) of Cartier Resources Inc. (“Cartier“) and 7,000,000 Cartier Share purchase warrants (the “Cartier Warrants“), representing approximately 15.6% of the issued and outstanding Cartier Shares on a partially-diluted basis assuming the full exercise of the Cartier Warrants held by Agnico Eagle, and (ii) O3 Mining beneficially owned, and exercised control and direction over, 46,273,265 Cartier Shares, representing approximately 12.7% of the issued and outstanding Cartier Shares on a basic basis.

    As a result of Agnico Eagle’s acquisition of control of O3 Mining pursuant to the Offer, as of the date hereof, Agnico Eagle is deemed to beneficially own, and exercise control and direction over, an aggregate of 97,022,944 Cartier Shares, representing approximately 26.7% of the issued and outstanding Cartier Shares on a basic basis.  Assuming the full exercise of all Cartier Warrants held by Agnico Eagle, Agnico Eagle would be deemed to beneficially own, and exercise control and direction over, 104,022,944 Cartier Shares, representing approximately 28.0% of the issued and outstanding Cartier Shares on a partially-diluted basis.

    Agnico Eagle holds its Cartier Shares and Cartier Warrants for investment purposes. Depending on market conditions and other factors, Agnico Eagle may, from time to time, acquire additional Cartier Shares, Cartier Warrants or other securities of Cartier or dispose of some or all of its Cartier Shares, Cartier Warrants or other securities of Cartier that it owns at such time.

    Early Warning Disclosure Regarding STLLR Gold Inc.

    Immediately prior to the take-up of the Deposited Shares under the Offer, O3 Mining beneficially owned, and exercised control and direction over, 12,458,939 common shares (the “STLLR Shares“) of STLLR Gold Inc. (“STLLR“), representing approximately 10.1% of the issued and outstanding STLLR Shares on a basic basis.  Agnico Eagle did not beneficially own, or exercise control or direction over, any STLLR Shares.

    As a result of Agnico Eagle’s acquisition of control of O3 Mining pursuant to the Offer, as of the date hereof, Agnico Eagle is deemed to beneficially own, and exercise control and direction over, 12,458,939 STLLR Shares, representing approximately 10.1% of the issued and outstanding STLLR Shares on a basic basis. 

    Agnico Eagle holds its STLLR Shares for investment purposes. Depending on market conditions and other factors, Agnico Eagle may, from time to time, acquire additional STLLR Shares or other securities of STLLR or dispose of some or all of its STLLR Shares or other securities of STLLR that it owns at such time.

    Early warning reports in respect of the foregoing will be filed by Agnico Eagle in accordance with applicable securities laws. To obtain a copy of each early warning report, please contact:

    Agnico Eagle Mines Limited
    c/o Investor Relations
    145 King Street East, Suite 400
    Toronto, Ontario M5C 2Y7
    Telephone: 416-947-1212
    Email: investor.relations@agnicoeagle.com

    Agnico Eagle’s head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. O3 Mining’s head office is located at 155 University Avenue, Suite 1440, Toronto, Ontario M5H 3B7. Cartier’s head office is located at 1740, chemin Sullivan, bureau 1000, Val d’Or, Québec J9P 7H1. STLLR’s head office is located at 181 Bay Street, Suite 4260, Toronto Ontario M5J 2V1.

    Advisors

    Edgehill Advisory Ltd. is acting as financial advisor to Agnico Eagle. Davies Ward Phillips & Vineberg LLP is acting as legal advisor to Agnico Eagle.

    Maxit Capital is acting as financial advisor to O3 Mining. Bennett Jones LLP is acting as legal advisor to O3 Mining. Fort Capital is acting as financial advisor to the Special Committee of independent directors of O3 Mining. Cassels Brock & Blackwell LLP is acting as legal advisor to the Special Committee.

    The Depositary and Information Agent for the Offer is Laurel Hill Advisory Group. If you have any questions or require assistance with tendering to the Offer, please contact Laurel Hill Advisory Group, by phone at 1-877-452-7187 or by e-mail at assistance@laurelhill.com.

    About O3 Mining Inc.

    O3 Mining Inc. is a gold explorer and mine developer in Québec, Canada, adjacent to Agnico Eagle’s Canadian Malartic mine. O3 Mining owns a 100% interest in all its properties (128,680 hectares) in Québec. Its principal asset is the Marban Alliance project in Québec, which O3 Mining has advanced over the last five years to the cusp of its next stage of development, with the expectation that the project will deliver long-term benefits to stakeholders.

    About Agnico Eagle Mines Limited

    Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico, with a pipeline of high-quality exploration and development projects. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

    Cautionary Note Regarding Forward-Looking Information

    This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation that is based on current expectations, estimates, projections, and interpretations about future events as at the date of this news release. Forward-looking information and statements are based on estimates of management by O3 Mining and Agnico Eagle, at the time they were made, and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or statements. Forward-looking statements in this news release include, but are not limited to, statements regarding: the Offer, including the anticipated timing of expiration, mechanics, funding, completion, settlement, payment, results and effects of the Offer and the other benefits of the transaction; the advancement of the Marban Alliance project; any second-step transaction, including the timing for any such transaction and Agnico Eagle’s intentions with respect to any such transaction; and Agnico Eagle’s acquisition or disposition of securities of Cartier and/or STLLR in the future. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of Agnico Eagle and O3 Mining that any second-step transaction will be successful and the ability to achieve goals, including the integration of the Marban Alliance property to the Canadian Malartic land package and the ability to realize synergies arising therefrom. Agnico Eagle and O3 Mining caution that the foregoing list of material factors and assumptions is not exhaustive. Although the forward-looking information contained in this news release is based upon what Agnico Eagle and O3 Mining believe, or believed at the time, to be reasonable expectations and assumptions, there is no assurance that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither O3 Mining, nor Agnico Eagle nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. O3 Mining and Agnico Eagle do not undertake, and assume no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable law. These statements speak only as of the date of this news release. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of Agnico Eagle or any of its affiliates or O3 Mining.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

    View original content:https://www.prnewswire.com/news-releases/agnico-eagle-announces-successful-take-up-of-94-1-of-the-shares-of-o3-mining-and-mandatory-extension-of-offer-to-february-3–2025–302359489.html

    SOURCE Agnico Eagle Mines Limited

    MIL OSI Economics

  • MIL-OSI: Municipality Finance issues RON 106,5 million notes under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    24 January 2025 at 10:00 am (EET)

    Municipality Finance issues RON 106,5 million notes under its MTN programme

    Municipality Finance Plc issues RON 106,5 million notes on 27 January 2025. The maturity date of the notes is 27 January 2026. The notes bear interest at a fixed rate of 6.75% per annum.

    The notes are issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 27 January 2025.

    Citigroup Global Markets Europe AG acts as the dealer for the issue of the notes.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the Republic of Finland. The Group’s balance sheet totals over EUR 50 billion.

    MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic, but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: http://www.munifin.fi

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network

  • MIL-OSI Africa: Algeria’s Bid Round Paves Way for $50B Hydrocarbon Investment Drive

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

    PARIS, France, January 24, 2025/APO Group/ —

    Algeria is set to invigorate its hydrocarbon sector with a substantial $50 billion investment over the next four years, focusing primarily on exploration and production activities. Central to this initiative is an ongoing licensing round, offering six onshore blocks to international and domestic energy companies. Although the 2024 round closes before the Invest in African Energy (IAE) Forum, taking place in Paris this May, the forum provides a platform for stakeholders to analyze the implications of this strategy, discuss upcoming results and explore partnerships for future rounds. Below is an overview of the available licensing opportunities, from technical specifications to potential implications for the sector.

    Technical Specifications

    The National Agency for the Valorization of Hydrocarbon Resources (ALNAFT) has identified six onshore blocks for its current licensing round, which opened in November. These blocks include M’Zaid, Ahara, Reggane II and Zerafa II, which will be offered as Production Sharing Contracts (PSCs). Additionally, Toual and Kern El-Kassa will be made available as Participation Agreements. Together, these blocks cover approximately 152,000 km², representing a significant area for exploration and development.

    These opportunities are supported by a wealth of geological and geophysical data. ALNAFT has compiled over 102,000 line-kilometers of 2D seismic data and more than 45,000 km² of 3D seismic data. This extensive dataset offers investors a clear and comprehensive view of Algeria’s subsurface potential, aiding in the identification of promising hydrocarbon prospects.

    What to Expect

    The licensing round opened on November 26, 2024, when tender documents and data rooms became accessible to interested parties. The deadline for bid submissions is April 15, 2025, and following the evaluation of bids, contracts will be officially awarded in Algiers on May 29, 2025. This carefully planned timeline reflects Algeria’s commitment to a transparent and efficient bidding process. Combined with its offering of both PSCs and Participation Agreements, this framework creates an environment conducive to collaboration, innovation and flexibility, attracting a diverse range of international and domestic investors to its hydrocarbon sector.

    Moreover, the round is part of an ambitious five-year licensing strategy, which involves issuing one call per year through 2029. This long-term framework ensures a steady stream of investment opportunities, positioning Algeria as a reliable and strategic player in the global energy landscape.

    Implications for the Sector

    The 2024 licensing round represents a pivotal moment in Algeria’s strategy to increase hydrocarbon production and boost foreign investment. By offering expansive acreage backed by high-quality seismic data, Algeria is positioning itself as a prime destination for energy investments and new exploration activity. As part of the five-year licensing strategy extending through 2029, the round underscores Algeria’s long-term vision for its hydrocarbon sector. The regularity of these calls demonstrates Algeria’s commitment to fostering investor confidence and remaining a vital energy player in the region.

    IAE 2025 (http://apo-opa.co/3CuyQxqis an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit http://www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    MIL OSI Africa

  • MIL-OSI Europe: Joint donor statement on Humanitarian Access in Sudan

    Source: Government of Sweden

    Joint donor statement on Humanitarian Access in Sudan by the UK, USAID, Norway, Sweden, France, Germany, Netherlands, Ireland, Switzerland, Canada and the European Commissioner for Crisis Management.

    The people of Sudan are experiencing one of the world’s worst humanitarian crises. 25 million people, half of Sudan’s population, are in urgent need of assistance. Fighting between the Sudanese Armed Forces (SAF) and Rapid Support Forces (RSF) has forced approximately 11 million from their homes, fleeing horrific violence and severe hunger since the outbreak of conflict 18 months ago. Women and girls are facing severe protection risks, including widespread sexual violence and other grave human rights violations. 

    In August, famine conditions were confirmed in Zamzam camp for internally displaced people – home to over 500,000 people. This marks the third official famine determination in the 21st century. On 9 October, in addition to the ongoing risk of famine in areas of greater Darfur, we were alerted that urban and rural areas of South Kordofan are now at elevated risk of famine due to continuing conflict and siege-like conditions. 

    The conflict between SAF and RSF and the two sides’ systematic obstruction of local and international humanitarian efforts is at the root of this famine. The war has driven civilians from their homes – uprooting them from their livelihoods. People have been increasingly forced into harmful coping strategies, and are more at risk for being trafficked. It has damaged agricultural production and disrupted trade flows and market functionality, resulting in a severe deterioration in the production of and access to food. 

    In Darfur, only a fraction of the aid needed to feed 7 million acutely food insecure people has been allowed in since August. Untold numbers of people have already died, and many more will die as a result. An immediate and coordinated scale-up of assistance, together with full, safe and unhindered humanitarian access to populations in need, is urgently required to mitigate the large-scale loss of life. We condemn that, despite the overwhelming urgency, both SAF and RSF persist in obstructing the humanitarian response. 

    In addition, bureaucratic impediments by both the Sudan’s Humanitarian Aid Commission and the Sudan Agency for Relief and Humanitarian Operations continue to impede the delivery of assistance at the necessary scale. The Sudanese authorities must recognize that it is essential to work in partnership with humanitarian actors in Sudan, allowing them to address the most urgent needs independently and unhindered. Bureaucratic obstacles that are primarily designed to obstruct the delivery of aid, such as delays in issuing visas and travel permits, will continue to prevent life-saving support to the most vulnerable communities – including those seeking safety from the RSF’s assault on El Fasher in Northern Darfur. The recent treatment of the inter-agency Mission in Darfur is unacceptable and underlines this pattern of obstructive behaviour. The UN and partners must be able to engage with all parties to the conflict to ensure that lifesaving aid reaches people in urgent need wherever they are. 

    The parties have a duty to comply with their obligations under international humanitarian law to protect civilians and humanitarian personnel. In practice, this means the removal of all arbitrary restrictions on the Adre border crossing from Chad, including the 3-month time limit, opening of all possible cross-border routes without impediment, and agreeing on routes for humanitarian aid across conflict lines. In this regard, we recall the clear commitment of Chairman of the Sovereign Council, General Al-Burhan, to alleviate and remove all obstacles facing humanitarian actions. 

    We welcome the fulfilment of the humanitarian pledges made during the Paris Conference for Sudan and neighbouring countries on 15 April and recent progress of the Advancing Lifesaving and Peace in Sudan (ALPS) group in improving cross-border and crossline access. We call on the SAF and the RSF to engage and to deliver on their existing commitments and obligations for the sake of the Sudanese people. 

    Last month, world leaders gathered at the UN General Assembly called for the immediate cessation of hostilities and urgent action in support of Sudan. This is needed now more than ever, with the escalation of the hostilities causing displacement, destruction and death. 

    MIL OSI Europe News

  • MIL-OSI: Versity and INEUF.com Make a Giant Deal in the Real Estate Sector: Digital Real Estate Transformation Begins!

    Source: GlobeNewswire (MIL-OSI)

    NICE, France, Oct. 19, 2024 (GLOBE NEWSWIRE) — Versity is an innovative project established to revolutionize the real estate world with metaverse technology. Now it has taken a big step that will further consolidate its claim in the real estate sector! By acquiring INEUF.com, France’s largest real estate platform, Versity aims to bring its digital solutions to a wider audience.

    Thanks to this strategic partnership, Versity will have access to INEUF.com’s database of more than 4,000 projects and over 120,000 apartments. Moreover, INEUF.com’s extensive customer network and expert team of 320 sales consultants will meet Versity’s 3D modeling and Web 3 technologies, taking the customer experience to the next level!

    Versity’s Innovative Vision in Real Estate

    Versity’s goal is to bring transparency to the real estate industry on the metaverse, enabling users to make fast and informed decisions based on certified data. With the existing portfolio on INEUF.com’s platform and AI-powered customer relationship management systems, Versity aims to make real estate transactions much more efficient.

    Frédéric Ibanez, President of Versity, comments on this important partnership: “Nicolas Viale, founder of INEUF.com, has achieved great success in the new real estate market, creating a platform covering 80% of France. By combining this strong sales network with Versity’s 3D modeling tools, we are bringing a brand new and innovative solution to the market.”

    Building the Future Together

    This partnership will enable Versity to gain a strong position in the real estate sector. Joining forces with INEUF.com’s experienced team, Versity is taking firm steps towards becoming a platform that shapes the future by accelerating digital transformation in the real estate world. Versity aims to usher in a new era in the sector by offering innovative solutions to its users in both the virtual and physical worlds.

    This strategic move of Versity draws attention as one of the concrete steps taken to realize its vision for the real estate sector in the metaverse.

    X: https://x.com/HelloVersity
    Website : https://versity.io/en
    Youtube: https://www.youtube.com/watch?v=eXiqMB0tgBg
    Telegram : https://t.me/HelloVersity

    Contact:
    Frederic Ibanez
    presse@versity.io

    Disclaimer: This content is provided by Versity. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/30633a57-d1d2-41dc-8cbd-39afab466a61

    The MIL Network

  • MIL-OSI: Metaverse Rising Again: Versity Adds Kuwaiti Royal Advisor to its Team and Prepares to Grow in the Middle East!

    Source: GlobeNewswire (MIL-OSI)

    NICE, France, Oct. 19, 2024 (GLOBE NEWSWIRE) — Offering revolutionary digital solutions in the real estate industry, Versity has added a new one to its strategic cooperation and innovative steps. After acquiring France’s largest new real estate platform INEUF.com, Versity has now announced the addition of Hassan F. Beidas, Advisor to the Kuwaiti Royal Family, to its team to lead its expansion and investment strategies in the Middle East.

    Versity’s Growing Portfolio with Strong Investments in the Middle East

    Hassan F. Beidas has been an advisor to the Kuwaiti Royal Family for over 12 years and has been instrumental in managing large financial investments in the region. Beidas, who is also the Managing Director of the Arab Trade and Real Estate Office, will be an important guide in Versity’s global growth journey. This cooperation paves the way for Versity to expand its portfolio and create a wider space in the international market with significant investments coming from Kuwait.

    Strong Positioning in the Middle East and Europe Market with INEUF.com and Versity Cooperation

    Versity recently acquired INEUF.com, which has a database of more than 4,000 real estate projects and over 120,000 apartments for sale across France. INEUF.com’s extensive customer network and team of expert consultants will strengthen Versity’s digital real estate solutions and provide a solid foundation for growth in the Middle East. Versity aims to provide innovative services from Europe to the Gulf region by increasing efficiency through AI-powered customer relationship management tools.

    Comment on the Collaboration by Frédéric Ibanez, President of Versity

    “We are honored to have Mr. Hassan F. Beidas join our team. His knowledge of international markets and strong investment network will contribute greatly to achieving our global growth targets. I would also like to take this opportunity to express my sincere thanks to His Highness Sheikh Duaij Jaber Ali Al Sabah of the Kuwaiti Royal Family for his sincere support. This collaboration opens the door to a new era for Versity,” said Frédéric Ibanez.

    About Versity SA:
    Versity SA is a technology company listed on Euronext Access, developing innovative digital solutions for the real estate industry. Integrating 3D and Web3 technologies, Versity aims to revolutionize the real estate industry by bringing real-world interactions to the digital world.

    About INEUF.com:
    INEUF.com, France’s largest new real estate marketplace, offers more than 4,000 programs and a portfolio of more than 120,000 apartments for sale. With a network of 320 consultants, the company is the market leader in new real estate programs and investment property sales in France and French overseas territories.

    X: https://x.com/HelloVersity
    Website : https://versity.io/en
    Youtube: https://www.youtube.com/watch?v=eXiqMB0tgBg
    Telegram : https://t.me/HelloVersity

    Contact:
    Frederic Ibanez
    presse@versity.io

    Disclaimer: This content is provided by Versity. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/5e1b3107-6aae-4151-8cdb-56ecdecf2782

    https://www.globenewswire.com/NewsRoom/AttachmentNg/972742cf-7c0b-4134-ae4c-51628cb71c3e

    The MIL Network

  • MIL-OSI Security: NATO Secretary General to visit Estonia

    Source: NATO

    From 22 to 23 October 2024, NATO Secretary General Mark Rutte will travel to Estonia.

    On Tuesday, 22 October, Mr Rutte will meet with the President of Estonia, Mr Alar Karis and the Prime Minister, Mr Kristen Michal.

    On Wednesday, 23 October, the Secretary General will meet the Minister of Foreign Affairs, Mr Margus Tsahkna.

    On the same day, Mr Rutte will visit Tapa Army Base, where he will address the troops together with the President of Estonia.

    Media Advisory

    22 October, 17:40 (CEST)  Joint press conference by the Secretary General and the Prime Minister of Estonia.

    23 October, 13:30 (CEST)  Address to the troops followed by a press point by the Secretary General.

    Media Coverage

    The Secretary General’s press conference with the Prime Minister, will be streamed live on the NATO website, and broadcast live on EBU World feed and EBU News Exchange.

    The address to the troops and press point will be streamed live on the NATO website, and broadcast live on EBU News Exchange.

    Transcripts of the Secretary General’s remarks, as well as photographs, will be available on the NATO website. Video can be downloaded from the NATO Multimedia Portal after the event.

    For more information:

    For general queries: contact the NATO Press Office
    Follow us on X: @NATO@SecGenNATO and @NATOPress

    MIL Security OSI

  • MIL-OSI Security: NATO Secretary General joins meeting of G7 Defence Ministers in Naples

    Source: NATO

    On Saturday (19 October) NATO Secretary General Mark Rutte joined a meeting of G7 Defence Ministers in Naples, Italy to discuss how to further increase support to Ukraine, ramp up defence industrial production, and more. It was the first G7 meeting for Mr Rutte in his role as Secretary General and the first time the G7 convened a dedicated meeting in Defence Ministers format.

    The Secretary General highlighted the value of cooperation between G7 and NATO, given the complex nature of the challenges to​ shared security. On Ukraine, he underscored how ensuring that Ukraine has what it needs to prevail is critical to security and stability well beyond the region. As Ministers discussed defence industrial production, Mr Rutte noted the importance of working together – across the Alliance and beyond – to not only increase and speed up production but that these efforts are better aligned by working to NATO standards. The Secretary General also outlined how NATO is doing more to build its partnerships, not only in the Indo-Pacific but also in NATO’s southern neighbourhood – another area on which G7 discussions focused.

    The meeting in Naples comes on the heels of the NATO Defence Ministers’ Meeting in Brussels this week, where Allies agreed on a range of initiatives related to improving deterrence and defence, ensuring enduring support for Ukraine, and doing more with partners in the Indo-Pacific as well as the EU.

    MIL Security OSI

  • MIL-OSI Security: Update in response to allegations against Mohamed Al Fayed

    Source: United Kingdom London Metropolitan Police

    Between 2005 and 2023, the Met received 21 separate allegations in total against the late Mohamed Al Fayed.

    Investigating officers approached the CPS for early investigative advice in relation to 10 of these allegations.

    Detectives routinely forward cases to the CPS for early investigative advice to ensure the early development of a joint strategy for the prosecution . As part of this process, the CPS can offer expertise and advice around the evidential picture.

    Based on the advice and dialogue with the CPS, no further action was taken in relation to the ten allegations officers sought early investigative advice on.

    There was however sufficient evidence to pass two files of evidence to the CPS, which related to two separate allegations. No charges were brought by prosecutors.

    The remaining nine allegations were reviewed by officers and no further action was taken. Two of those allegations resulted in no further action as Al Fayed died and therefore there was no prospect of a conviction.

    Following recent media coverage and the Met’s public appeals for people to come forward and speak to the police, officers have now been contacted by 60 people reporting their experiences.

    Detectives continue to build a fuller picture around the previous allegations against Al Fayed alongside partners in the criminal justice system. Looking forward, investigators are reviewing the new information which has come to light, in an effort to establish if there are any allegations of criminality that can be pursued against others who may have had some involvement in any offending.

    Commander Stephen Clayman said: “I want to thank those who have put trust in us and come forward to share their experiences – this will have taken a huge amount of courage and bravery.

    “We recognise the significance of the allegations and it is right that a detailed and thorough review takes place on previous allegations. And while we know that it isn’t possible to bring criminal proceedings against someone that has died, our priority is to give any potential victim-survivors a voice and ensure they receive the right care and support.

    “We continue to explore a number of new lines of enquiry, thoroughly reviewing any new information and assessing whether there are any allegations of criminality which can be pursued.”

    Breakdown of previous allegations

    The Met received a total of 21 allegations relating to Al Fayed. These are broken down as follows:

    • Investigators sought early investigative advice from the CPS around 10 of these allegations, which subsequently had no further action by police.
    • Two allegations were included in two files of evidence passed to the CPS. No charges were brought by prosecutors.
    • Two allegations were not referred to the CPS as Al Fayed had died.
    • Seven allegations resulted in no further action taken by the police.

    MIL Security OSI

  • MIL-OSI Canada: Joint Declaration by G7 Defence Ministers to reaffirm common determination to address security challenges

    Source: Government of Canada News

    We, the G7 Defense Ministers of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America, and the High Representative of the European Union, with the participation of the NATO Secretary General, have gathered in Naples to reaffirm our enduring unity and common determination to address, in a cohesive and concrete manner, security challenges, at a time in history marked by great instability.

    October 19, 2024 – Naples, Italy – National Defence / Canadian Armed Forces

    Preamble

    We, the G7 Defense Ministers of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America, and the High Representative of the European Union, with the participation of the NATO Secretary General, have gathered in Naples to reaffirm our enduring unity and common determination to address, in a cohesive and concrete manner, security challenges, at a time in history marked by great instability.

    In this spirit, we strongly reaffirm our commitment to promote respect for the United Nations Charter, to implement tangible measures to help safeguard peace and security, and to oppose any action aimed at undermining the free and open rules-based international order.

    We:

    • reiterate our unwavering support for Ukraine, which has for nearly three years defended itself against Russia’s brutal and full-scale illegal war of aggression. We condemn Russia, which has put in place a posture of confrontation and destabilization on a global scale, also resorting to hybrid warfare and the irresponsible use of nuclear rhetoric;
    • believe that the G7, along with other international partners, can play a key role in the process of achieving a comprehensive, just and lasting peace in line with international law, with respect for Ukraine’s sovereignty, independence and territorial integrity. This cannot be done without continuing to work to achieve the widest possible international support for Ukraine, fostering a renewed sense of trust, based upon the inclusion of like-minded countries;
    • commit to identifying cooperative solutions to address the growing need for defense industries to be able to sustain a high pace of production, work on building and strengthening resilient and reliable defense industry, including on issues related to supply needed for Defense;
    • recognize the need for a more cooperative approach in defense-related research and development, also in terms of sharing and leveraging expertise and knowledge, while fostering a safe environment to prevent malign access, in order to maintain competitive advantage, including in the field of emerging and disruptive technologies;
    • acknowledge the relevance of finding effective solutions to ensure the extended sustainability of military operations and proper regeneration of forces;
    • are also committed to containing and countering information manipulation and the spread of misinformation and disinformation;
    • condemn Hamas’ brutal terrorist attack on Israel on October 7th, 2023, which has unleashed a spiral of violence that threatens the entire Middle Eastern region;
    • are united in supporting the need for an immediate ceasefire in Gaza, the release of all hostages, a significant and sustained increase in the flow of humanitarian assistance throughout Gaza and a sustainable pathway to a two-state solution;
    • are concerned by the latest events in Lebanon and the risk of further escalation. We express concern over all threats to UNIFIL’s security. The protection of peacekeepers is incumbent upon all parties to a conflict. We also reaffirm the importance of supporting UNIFIL and the Lebanese Armed Forces in their role of ensuring the stability and security of Lebanon.
    • condemn the attacks perpetrated by the Houthis against maritime shipping transiting the area including the Red Sea, Bab el Mandeb Strait and Gulf of Aden, reaffirming the right to preserve freedom of navigation, protect shipping lanes and defend ships and personnel, in accordance with international law and UNSCRs 2722 and 2739;
    • condemn Iran’s direct military attack against Israel on 13 April and 1 October, 2024, and call on Iran to refrain from providing support to Hamas, Hezbollah, Houthis and other non-state actors, and taking further actions that could destabilize the region and trigger an uncontrolled process of escalation;
    • express our concerns about strategies pursued by some state actors towards Africa, including predatory economic practices, and disinformation, that create instability;
    • reaffirm our commitment to the strengthening of the stability and security of African countries, stressing the importance of an integrated approach, through practical and coordinated actions with African partners in the field of peace, security and defense, notably in the areas of capacity building, security and defense sectors reform, as well as interoperability. In this sense, we look forward to bilateral and multilateral partners’ initiatives on the “southern neighborhood”, including EU and NATO activities;
    • recognize that climate change is a defining challenge with a profound impact on our security that can aggravate demographic, economic, and political challenges to peace and stability worldwide, and especially in the most vulnerable countries;
    • reaffirm that the multilateral system, with the United Nations and its Charter at the center, must be strengthened. We are committed to take the necessary actions adopted at the UN Summit of the Future and to continue to support and adapt UN Peace Operations as a critical tool to maintain international peace and security; 
    • reaffirm our commitment to a free and open Indo-Pacific, whose crucial role in global prosperity and security we recognize, and our commitment to fostering our security and defense partnerships with Indo-Pacific countries;
    • reaffirm that maintaining peace and stability across the Taiwan Strait is indispensable to international security and prosperity;
    • express our serious concern about the situation in the East and South China Seas and reiterate our strong opposition to any unilateral attempts to change the status quo by force or coercion, including in the maritime and air domains;
    • express our deep concern at China’s support to Russia, which is enabling Russia to maintain its illegal war in Ukraine and has significant and broad security implications, as well as the strengthening of military cooperation between China and Russia;
    • condemn the continued development of North Korea’s nuclear and ballistic missile programs, in direct violation of relevant UNSCRs, and express our concern about its increasing military cooperation with Russia.

    Support to Ukraine

    Since Russia’s full-scale invasion of Ukraine, we, the G7 with NATO, have played a central role in supporting Ukraine’s right to self-defense in order to counter Russia’s aggression, to achieve a comprehensive, just and lasting peace in Ukraine, reaffirming the primacy of international law, including the UN Charter and the principle of the inviolability of national sovereignty.

    We reaffirm our unwavering support for the freedom, sovereignty, independence and territorial integrity of Ukraine for as long as it takes.

    We continue to condemn in the strongest possible terms Russia’s blatant breach of international law, including the UN Charter, its repeated and deliberate attacks against civilian and critical infrastructures, the use of actions of hybrid warfare, as well as Russia’s irresponsible nuclear rhetoric.

    We believe that Russia’s aggression against Ukraine is posing a threat to international security, the purposes and principles of the UN Charter and the rules-based international order.

    We support Ukraine’s right to self-defense and reaffirm our commitment to Ukraine’s long-term security, including by implementing bilateral security commitments and arrangements based on the G7 “Joint Declaration in support of Ukraine” signed in the margins of the NATO Vilnius Summit, bilateral security agreements and arrangements signed with Ukraine, and the Ukraine Compact endorsed in the margins of the NATO Washington Summit.

    We therefore reaffirm the importance of synergy and coherence between the support provided by NATO, the EU and on a bilateral or multilateral basis. In this regard, we support the mechanism of enhanced political consultations between Ukraine and the Alliance established with the NATO-Ukraine Council. We support the assistance initiatives of the EU and NATO, including the military support through the European Peace Facility, the EU Military Assistance Mission for Ukraine, negotiations for Ukraine’s accession to the European Union, and the NATO Security Assistance and Training for Ukraine. We also support the Ukraine Defense Contact Group, including the work of its Capability Coalitions, and recall the launch of the Ukraine Compact at the NATO Washington Summit. We welcome initiatives aimed at supporting Ukrainian defense industry and innovation, which are instrumental to enable Ukraine’s self-defense.

    We underscore our intent to continue to provide assistance to Ukraine, including military assistance in the short and long term. We support Ukraine on its irreversible path to full Euro-Atlantic integration, including NATO membership.

    We consider it imperative to continue supporting the education and training needs of the Ukrainian Defense and Security Forces in the short and long term, given the need for force regeneration and reconstitution. We welcome NATO’s and EU’s respective efforts through NATO Security Assistance and Training for Ukraine and EU Military Assistance Mission in support of Ukraine, which will provide support also to the long-term development and reform of Ukraine’s Armed Forces, including military assistance. In coherence with Apulia G7 Leaders’ Communiqué, Extraordinary Revenues stemming from immobilized Russian sovereign assets, held in the EU and other relevant jurisdictions, will be used for supporting Ukraine, including military, budgetary and reconstruction assistance in the short and long term, as consistent with G7 members’ respective legal systems.

    We consider it a priority to work now to find solutions to create a Ukrainian military interoperable with supporting member states and NATO, capable of defending Ukraine now and deterring further attacks in the future. This process must be based on coordinated and sustained actions across relevant state and international actors.

    We reiterate that our ultimate goal remains a comprehensive, just and lasting peace in accordance with international law, as set out in the UN Charter and its principles, that ensures respect for Ukraine’s sovereignty and territorial integrity.

    Middle East

    We express our concern about the escalation in the Middle East. 

    We reiterate our firm condemnation of the brutal terrorist attacks perpetrated by Hamas on 7 October 2023. We call for an immediate ceasefire and the prompt release of all hostages. This attack has triggered a spiral of violence, also involving Israel and Hezbollah, deeply affecting civilians. A dangerous cycle of attacks and retaliation risks fueling uncontrollable escalation in the Middle East, which is in no one’s interest. We encourage all parties to engage constructively to de-escalate current tensions and emphasize the importance for all parties to act in accordance with international law, including international humanitarian law.  We reiterate the absolute need for the civilian population to be protected and that there must be full, rapid, safe, and unhindered humanitarian access, as a matter of absolute priority.

    The conflict in the Gaza and the dramatic humanitarian crisis have highlighted the need to start a political process necessary to avoid further military escalation and achieve a stable and lasting security situation. We therefore reaffirm the need to continue working towards a lasting ceasefire in Gaza, a stable security situation, and an increased and unimpeded flow of humanitarian aid to the innocent civilian population.

    We welcome UNSCR 2735 and reaffirm our commitment to support a political process towards achieving a two-state solution, as the only option for ensuring the long-term peaceful coexistence of Israelis and Palestinians, addressing both Israel’s legitimate security needs, alongside a sovereign, viable and democratic Palestinian state.

    We commend initiatives to train and advise Palestinian Authority security forces, and support the broader reform of the security and judiciary building on the positive experience of successful capacity building initiatives, including those for the Palestinian Civil Police, an improvement for the Palestinian people.

    We reaffirm the need to identify, with other partners, within the framework of the relevant international organizations, viable solutions for post-conflict stabilization, governance and security, and in this regard we stand ready to support, when security conditions permit, post-war initiatives aimed at stabilizing the region.

    We support the restoration of security and stability on the Lebanon-Israel border, including the protection of local populations.

    We are concerned by the latest events in Lebanon and the risk of further escalation. We reiterate our call for a full cessation of hostilities consistent with the full implementation of UNSCR 1701 and a diplomatic solution to the fighting, recognizing the fundamental stabilizing role of the Lebanese Armed Forces and reaffirming the essential role of UNIFIL. We express concern over all threats to UNIFIL’s security. The protection of peacekeepers is incumbent upon all parties to a conflict.

    We unequivocally condemn Iran’s ballistic missiles large-scale attacks against Israel and emphasize the importance for all parties to act in accordance with international law, including international humanitarian law.

    We unequivocally reiterate commitment to the security of Israel.

    We express our deep concern at the intensification of military cooperation between Iran and Russia, including in the supply of ballistic missiles, UAVs, military equipment and sensitive technology, aimed at circumventing the sanctions regime.

    We are committed to maintaining freedom of navigation, protecting sea-lanes and defending seafarers and ships from attacks by Houthis in the Red Sea, Arabian Sea and Gulf of Aden, in line with the UNSCR 2722. We call on the Houthis to immediately cease their escalatory measures that increase regional instability, and immediately release the vessel “Galaxy Leader” and its crew. We welcome the significant contributions of the G7 to maritime security initiatives in the region. 

    We also believe it is crucial to prevent the conflict from spreading across the region. We call on all parties to avert an all-out war, a situation that would irreversibly destabilize the entire region and project further tension and instability around the world.

    Africa

    We believe that the African continent and the G7 share great potential for partnership and shared objectives, aware that the complex balances and the combined effects of growing demographics and climate change imply the need for an ongoing and shared development agenda.

    We express our commitment to support the governments of African countries in setting the conditions that form the basis of sustained security, stability, and prosperity.

    We recognize the significant impact several state and non-state actors have had on the economy and security of Africa. However, some aspects of this unbalanced influence have led to poor environmental, social and governance standards, supply chain dominance, debt unsustainability and labor and transparency concerns. The G7 endorses fair defense and economic partnerships that are mutually beneficial and equitable, through cooperation with African countries and its regional organizations.

    We will continue our commitment to supporting peace, prosperity and stability in Africa, including within the EU integrated approach, combining different foreign policy tools, including civilian and military Common Security and Defence Policy missions and operations.  Moreover, we welcome the assistance measures provided to African partners under the European Peace Facility, as a critical enabler of African ownership by strengthening the capacity of African Armed Forces and supporting African-led peace support operations. We see training, interoperability, the development of common protocols, the exchange of personnel and NATO’s Defence and related Security Capacity Building activities as effective tools for creating the right conditions for fostering security.

    Indo-Pacific

    We affirm our commitment to a free and open Indo-Pacific, based on the rule of law and upholding the principle of the peaceful resolution of disputes without resorting to the threat or use of force. The region is central to global growth, geopolitical developments and military balance.

    The importance of the Indo-Pacific goes beyond the economic dimension alone, with many developed and developing countries having direct interests in promoting peace, security and prosperity in the region, including through defense and security partnerships.  We seek constructive and stable relations with China and recognize the importance of direct and candid engagement to express concerns and manage differences, particularly with regards to international peace and security.

    We express our serious concern about the situation in the South and East China Seas, and as stated in the Apulia G7 Leaders’ Communiqué, we reiterate our strong opposition to any unilateral attempts to change the status quo by force or coercion.

    There is no legal basis for China’s expansive maritime claims in the South China Sea, and we are strongly opposed to China’s repeated obstruction of freedom of navigation, militarization of disputed features and coercive and intimidating activities, as well as the dangerous use of Coast Guard and maritime militia vessels in the South China Sea.

    We reaffirm the universal and unified character of the UN Convention on the Law of the Sea and reaffirm its important role in setting out as the legal framework that governs activities in the oceans and the seas. We also reiterate that the award rendered by the Arbitral Tribunal on July 12, 2016, is legally binding upon the parties to those proceedings. 

    We reaffirm that maintaining peace and stability across the Taiwan Strait is indispensable to international security and prosperity. We are concerned about provocative actions, particularly the recent People’s Liberation Army military drills around Taiwan. There is no change in the basic positions of the G7 members on Taiwan, including stated one China policies. We call for a peaceful resolution of cross-Strait issues.

    We express our deep concern at China’s increasing support to Russia’s war economy, and call on China to cease the transfer of dual-use materials, including weapons components and equipment that are substantial inputs for Russia’s defense sector which are enabling Russia to maintain its illegal war in Ukraine. We express our concern about destabilizing actions resulting from the strengthening military cooperation between China and Russia.

    We condemn North Korea’s nuclear and ballistic missile programs. We reiterate our call for a complete, verifiable and irreversible dismantlement of all North Korea’s weapons of mass destruction and ballistic missile programs. We also condemn the increasing military cooperation between North Korea and Russia, including North Korea’s export and Russia’s procurement of North Korean ballistic missiles in direct violation of relevant UNSCRs, as well as Russia’s use of these missiles against Ukraine. We are concerned about the potential for any transfer of nuclear or ballistic missile-related technology to North Korea, which also violates relevant UNSCRs. 

    In this sense, acknowledging the relevance of the stability of the Indo-Pacific region to global dynamics, we are committed to coordinating our respective security and defense presence in the area, aimed at ensuring that regional security is preserved in accordance with international law.

    We are committed to continue the dialogue with all partners in the region, as well as exploring increased participation in regional exercises and further operational cooperation in the region to deal with growing regional security challenges.

    Defense readiness  

    We recognize these interconnected security challenges and acknowledge the need to respond decisively, including by continuing to strengthen the defense industry, encouraging robust engagement and industrial cooperation with partners. We welcome complementary initiatives launched in NATO and the EU. 

    We recognize the importance of ensuring reliable, predictable and stable access to finance for defense industries, acknowledging the specificities of the defense sector, fully taking into account sustainable finance policies, regulations, reporting and standards. We envisage greater cooperation, coordination and synergy aimed at a strong, responsive, secure, competitive and resilient defense industrial capacity and production. We will work on exploring multinational cooperation on efficient procurement, and aggregating demand to improve efficiencies. We consider it of paramount importance to keep our military edge through the responsible research and development and prompt adoption of new technologies, especially those in the emerging and disruptive technologies domain.

    We highlight the relevance of an in-depth dialogue among G7 members on the challenges and opportunities for industrial resilience, work on building and strengthening resilient and reliable defense industry, including on issues related to supply needed for Defense.

    We will continue working to improve interoperability, building upon the shared standards already in place.

    We recognize the need to reduce heavy reliance on fossil fuels, and minimize and mitigate emissions, sharing best practices on energy transition, in order to preserve interoperability, protecting military effectiveness, and manage risks and vulnerabilities.

    We acknowledge the need to share best practices about how to ensure buy-in and involvement from society, also to generate a credible and skilled workforce as a pillar of deterrence and defense. We recognize the importance of continuing to discuss and share each G7 member’s efforts to strengthen defense readiness.

    Conclusions

    We, the G7 Defense Ministers of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States of America, and the High Representative of the European Union, with the participation of the NATO Secretary General, reaffirm our commitment, enduring unity and shared determination to address international security challenges together, in cooperation with international organizations and partners who share our respect for, and commitment to, the rules-based international order and international law, including the UN Charter. 

    MIL OSI Canada News

  • MIL-OSI Security: Military Sealift Command Far East Participates in Sama Sama

    Source: United States INDO PACIFIC COMMAND

    As part of the eighth iteration of Exercise Sama Sama 2024, Military Sealift Command (MSC) Far East participated in refueling-at-sea familiarization training aboard the Philippine Navy (PN) frigate BRP Jose Rizal (FF 150), at Subic Bay, Philippines, Oct. 8-9.

    “MSC Far East makes sure every U.S. military ship in the Indo-Pacific region is able to get fuel, ammo, and supplies; this can include services to our allies and partners,” said U.S. Navy Senior Chief Boatswain’s Mate Andrew Werner, MSC Far East, out of Singapore. “Without a Combat Logistics Force (CFL) or refueling ships, our fleet of ships, and those of some allies, such as the Philippines, would not be able to refuel at sea.”

    Sama Sama 2024, which was held Oct. 7-18, was hosted by the Armed Forces of the Philippines and the U.S. Navy, and featured participation from allies and partners throughout the Indo-Pacific region, including personnel and assets from Australia, Canada, France and Japan.

    MSC Far East provided subject-matter-expert instruction for the refueling-at-sea familiarization training, along with members attached to Commander, Destroyer Squadron (DESRON) 7, out of Singapore.

    “The purpose of the training was to get the PN familiar with underway replenishment gear on a ship, how to set it up, and how to conduct a safe underway-replenishment,” said Werner. “MSC Far East has Boatswain’s mates that are subject-matter-experts and can train the Philippine Sailors. We do the similar training with other allies and partners.”

    Underway replenishments of allied partners present a unique opportunity to strengthen partnerships and exercise compatibility of logistics systems.

    “The training went over the fundamentals of refueling and replenishing at sea,” said U.S. Navy Chief Boatswain’s Mate Francisco Fuentes, DESRON 7. “We also conducted hands-on training and observed their on-station procedures for refueling-at-sea, and looked at their replenishment-at-sea stations forward of the ship.

    “It was important for us to do hands-on training because it helped them understand our safety procedures, maintenance requirements, and types of equipment we use and our station procedures. This helps with our interoperability.”

    According to Werner, he hopes that the training was beneficial to the PN, and they can mutually build upon interoperability.

    “Every Navy does evolutions a little different and we were able to show them how on our U.S. Navy conducts a safe refueling—just about every week—when underway on deployment,” added Werner. “They were excited and motivated to learn and I look forward to working with them again in the future.”

    Sama Sama 2024 is a multilateral engagement that includes a sea and shore phase that will incorporate medical, engineering, logistics and symposiums, while diving and explosive ordnance disposal teams, naval vessels and maritime surveillance aircraft conduct exercises focused on anti-submarine, surface and air warfare, and maritime domain awareness.

    MSC Far East supports the U.S. 7th Fleet and ensures approximately 50 ships in the Indo-Pacific Region are manned, trained, and equipped to deliver essential supplies, fuel, cargo, and equipment to warfighters, both at sea and on shore.

    U.S. 7th Fleet is the U.S. Navy’s largest forward-deployed numbered fleet and routinely interacts and operates with allies and partners in preserving a free and open Indo-Pacific region.

    Celebrating its 75th anniversary in 2024, MSC exists to support the joint warfighter across the full spectrum of military operations, with a workforce that includes approximately 6,000 Civil Service Mariners and 1,100 contract mariners, supported by 1,500 shore staff and 1,400 active duty and Reserve military personnel.

    MIL Security OSI

  • MIL-OSI United Kingdom: PM call with Prime Minister Netanyahu of Israel: 19 October 2024

    Source: United Kingdom – Executive Government & Departments

    The Prime Minister spoke to Prime Minister of Israel Benjamin Netanyahu this afternoon.

    The Prime Minister spoke to Prime Minister of Israel Benjamin Netanyahu this afternoon.

    The Prime Minister said he was alarmed to hear about the drone launched towards Prime Minister Netanyahu’s home this morning.

    They discussed the situation in the Middle East following the death of Hamas leader Yahya Sinwar, who the Prime Minister said was a brutal terrorist and that the world is a better place without him. 

    He also discussed with Prime Minister Netanyahu the opportunity presented by Sinwar’s death to halt the fighting and get the hostages out. The Prime Minister also stressed the importance of getting much more aid into Gaza.

    Finally, the leaders also discussed Lebanon and the importance of making progress on a political solution.

    Updates to this page

    Published 19 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Press release: PM call with Prime Minister Netanyahu of Israel: 19 October 2024

    Source: United Kingdom – Prime Minister’s Office 10 Downing Street

    The Prime Minister spoke to Prime Minister of Israel Benjamin Netanyahu this afternoon.

    The Prime Minister spoke to Prime Minister of Israel Benjamin Netanyahu this afternoon.

    The Prime Minister said he was alarmed to hear about the drone launched towards Prime Minister Netanyahu’s home this morning.

    They discussed the situation in the Middle East following the death of Hamas leader Yahya Sinwar, who the Prime Minister said was a brutal terrorist and that the world is a better place without him. 

    He also discussed with Prime Minister Netanyahu the opportunity presented by Sinwar’s death to halt the fighting and get the hostages out. The Prime Minister also stressed the importance of getting much more aid into Gaza.

    Finally, the leaders also discussed Lebanon and the importance of making progress on a political solution.

    Updates to this page

    Published 19 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Global Combat Air Programme update

    Source: United Kingdom – Executive Government & Departments

    Defence Secretary John Healey attended the G7 Defence Ministers summit in Naples where he discussed progress on the Global Combat Air Programme (GCAP).

    Defence Secretary John Healey today attended the G7 Defence Ministers summit in Naples, where he met with Italy’s Defence Minister Guido Crosetto and Japan’s Defence Minister Gen Nakatani to discuss the latest progress on the Global Combat Air Programme (GCAP).  

    Mr Healey congratulated Gen Nakatani on his recent appointment, and all three ministers spoke of the importance of protecting regional peace and stability in an increasingly more dangerous world.  

    They welcomed the excellent progress being made by the GCAP industry partners and discussed the latest on preparations for the GCAP International Government Organisation (GIGO), now that the UK has successfully ratified the international treaty.  

    Once ratified in all three Parliaments, the treaty will enter into force and the GIGO can be established. This will be the next major milestone for the programme, and is due to take place before the end of this year.  

    UK Defence Secretary, John Healey said:  

    This meeting of G7 allies takes place amid huge global uncertainty and growing Russian aggression. In these serious times, serious international partnerships are vital.

    It was a pleasure to meet my Japanese and Italian counterparts to discuss progress on our GCAP programme, including treaty ratification and other upcoming milestones.

    Updates to this page

    Published 19 October 2024

    MIL OSI United Kingdom