NewzIntel.com

Category: Finance

  • MIL-OSI New Zealand: Fonterra’s revised strategy to grow end-to-end value

    Source: Fonterra

    Fonterra Co-operative Group Ltd has today released its revised strategy, which will see the Co-op deepen its focus on its high-performing Ingredients and Foodservice businesses to grow value for farmer shareholders and unit holders.

    This follows a strategic review that confirmed the Co-op’s strengths as a B2B dairy nutrition provider, resulting in Fonterra’s decision to explore divestment options for its global Consumer businesses.  

    Chairman Peter McBride says the revised strategy creates a pathway to greater value creation, allowing the Co-op to announce enhanced financial targets and policy settings.  

    “The Co-op exists to provide stability and manage risk on farmers’ behalf, while maximising the returns to farmers from their milk and the capital they have invested in Fonterra.  

    “Through implementation of our strategy, we can grow returns to our owners while continuing to invest in the Co-op, maintaining the financial discipline and strong balance sheet we’ve worked hard to build over recent years.

    “We have increased our target average return on capital to 10-12%, up from 9-10%, and announced a new dividend policy of 60-80% of earnings, up from 40-60%. At all times, we remain committed to maintaining the maximum sustainable Farmgate Milk Price,” says Mr McBride.  

    CEO Miles Hurrell says Fonterra is in a strong position, delivering results well above its five-year average, which puts it in a position to think about the next evolution of its strategic delivery.  

    “The foundations of our strategy – our focus on New Zealand milk, sustainability, and dairy innovation and science – remain unchanged. What’s changed is how we play to these strengths.  

    “Following our recent strategic review, we are clear on the parts of the business that create the most value today and where there is further headroom for growth. These are our innovative Ingredients and Foodservice businesses, supported by efficient and flexible operations.  

    “By streamlining the Co-op to focus on these areas, we can grow greater value for farmer shareholders and unit holders, even if we divest our Consumer businesses,” says Mr Hurrell.  

    Looking out to the next decade and beyond, Fonterra has made six strategic choices.  These are:

    Deliver the strongest farmer offering – work alongside farmers to enable on-farm profitability and productivity and support the strongest payout.  

    Unleash the Ingredients engine – deepen Fonterra’s position as a world-leading provider of sophisticated dairy ingredients and build trading capability to grow both the Farmgate Milk Price and earnings.

    Keep up the momentum in Foodservice – expand our successful Foodservice business in China and other key markets to grow earnings.

    Invest in operations for the future – an efficient manufacturing and supply chain network that allows flexibility to allocate milk to the highest returning product and sales channel.

    Build on our sustainability position – further improve the Co-op’s sustainability credentials and strengthen partnerships with customers who value this position.  

    Innovate to drive an advantage – use science and technology to solve the Co-op’s challenges and build on competitive advantages.  

    “As previously announced, we are exploring divestment options for our global Consumer businesses to free up capital and allow the Co-op to focus on what it does best.  

    “This process is ongoing and progressing well. It remains our intention to seek shareholder approval prior to divesting these businesses,” says Mr Hurrell.

     

    Targets & policy settings 

     

    Alongside the highest sustainable Farmgate Milk Price, the performance measures Fonterra will track its progress against are: 

     

    Outcome 

    Targets and policy settings 

    FY18-23 average 

    Strong shareholder returns

    Return on capital: 10-12%

    Average ROC FY24-30

    8.6%

    Dividend policy: 60-80%

    50%

    Capital distributions: guided by Resource Allocation Framework

    Stable balance sheet

    Gearing Ratio: 30-40%

    35%

    Debt to EBITDA: 2-3x

    2.5x

    Enduring Co-op

    Capital investment requirements: ~$1 billion per annum in essential, sustainability and growth capital

    $650 million

    Emissions reductions by 2030 (from an FY18 base year)

    • Absolute Scope 1&2 emissions: 50%
    • On-farm emissions intensity Scope 3: 30%

    “The Co-op’s improved returns will primarily be driven by increased earnings in Ingredients and Foodservice along with operational efficiencies.

    “We continue to have significant capital investment needs ahead of us to maintain fit for purpose assets and we can meet these investment requirements while maintaining our strong balance sheet. We also intend to make a significant capital return to shareholders if we divest our Consumer business,” says Mr Hurrell.  

    Fonterra will provide farmers and the market a rolling three-year forward-looking view of the financial assumptions underpinning its performance targets annually and will measure progress through its annual business updates.  

    “This is the right strategy for the Co-op. It has a clear-eyed view of where we best generate returns for farmer shareholders and unit holders and will see us unlock value at every point in our supply chain by focusing on our strengths.  

    “Together, Fonterra’s Board and Management are looking forward to working alongside our Co-op’s farmers and employees to deliver on our vision to be the source of the world’s most valued dairy,” says Mr Hurrell.  

    For further information, see the strategy pack available here:

    https://view.publitas.com/fonterra-comms/our-strategy/

    About Fonterra 

    Fonterra is a co-operative owned and supplied by thousands of farming families across Aotearoa New Zealand. Through the spirit of co-operation and a can-do attitude, Fonterra’s farmers and employees share the goodness of our milk through innovative consumer, foodservice and ingredients brands. Sustainability is at the heart of everything we do, and we’re committed to leaving things in a better way than we found them. We are passionate about supporting our communities by Doing Good Together. 

    MIL OSI New Zealand News –

  • MIL-OSI USA: Governor Ron DeSantis Launches Operation Blue Ridge

    Source: US State of Florida

    TALLAHASSEE, Fla.—Today, Governor Ron DeSantis announced that Florida is rapidly deploying recovery assistance to North Carolina and Tennessee to help with Hurricane Helene’s impacts in Operation Blue Ridge. This multi-state agency response will include the Florida Division of Emergency Management, Florida State Guard, Florida National Guard, Florida Department of Transportation, Florida Fish and Wildlife Commission, Florida Law Enforcement Coordination Task Force, and a Law Enforcement Strike Team. Additionally, today Governor Ron DeSantis announced that Floridians seeking rescue in Western North Carolina will be aided by the State of Florida. Floridians can fill out our assistance form at  FloridaDisaster.org/OperationBlueRidge.

    This mission will begin with the following assets and personnel:
    Florida Division of Emergency Management

    • One All-Hazards Incident Management Team
    • One Communication Unit Strike Team
    • One Telecommunications Emergency Response Task Force
    • Ten Truck Loads of Water (which equates to 42, 550 gallons of water)
    • Over 100 Starlinks

    Florida State Guard

    • Two Special Missions Search and Rescue Teams
      • 8 search and rescue soldiers
      • 1 aerial assessment pilot

    Florida National Guard

    • Two National Guard Response Teams
      • 8 National Guard soldiers
    • Equipment
      • 2 CH-47 Chinooks and crew

    Florida Department of Law Enforcement

    • One Law Enforcement Coordination Taskforce
      • 7 FDLE agents and analysts
    • One Law Enforcement Strike Team
      • 7 FDLE agents and officers

    Florida Fish and Wildlife Conservation Commission Division of Law Enforcement

    • 22-man team
      • 2 Captains
      • 2 Team Leaders
      • 12 Officers/Investigators
      • 1 LE PIO
      • 1Mechanic
    • Equipment
      • 1 SOG trailer
      • 4 High-water vehicles (buggy/high water UTV)
      • 3 Airboats
      • 3 Shallow Draft vessels
      • 18 4×4 trucks
    • Aviation
      • Fixed wing aircraft
      • 1 pilot
      • 1 tactical flight officer

    Florida Department of Transportation
    The Florida Department of Transportation has made the following resources available to support the immediate inspection and assessment of transportation infrastructure maintained by NCDOT and TDOT:

    • Emergency Cut and Toss Strike Teams
    • Infrastructure Damage Assessment Teams
    • Bridge Inspection Team (including structures impacted by flood waters)
    • Temporary Bridge Materials
    • Hydraulic Modeling Professional
    • Project & Contract Management Teams
    • Public Information Officer & Emergency Communications Technology

    Florida stands ready to continue assisting our neighbors as they begin to recover from Hurricane Helene’s effects. Under Governor Ron DeSantis’ leadership, Florida’s strong disaster preparation and efficient response efforts have made it possible to provide much-needed assistance to other states.

    Follow FDEM on X, Instagram, and Facebook for updates and visit FloridaDisaster.org/Updates for information relating to Hurricane Helene.

    ###

    MIL OSI USA News –

  • MIL-OSI Security: Makwa Sahgaiehcan First Nation — Loon Lake RCMP serious assault now suspicious death investigation

    Source: Royal Canadian Mounted Police

    The adult male who sustained injuries as a result of a serious assault that occurred on September 23, 2024, at a residence on Makwa Sahgaiehcan First Nation has since died in hospital (background included below). He has been identified as 35-year-old Shoshone Morningchild of Makwa Sahgaiehcan First Nation.

    The Saskatchewan RCMP is releasing his name in an effort to elicit tips from the public and help further the investigation.

    Anyone with information regarding the assault is asked to report it to the Saskatchewan RCMP at 310-RCMP or to their local police service. Information can also be submitted anonymously by contacting Saskatchewan Crime Stoppers at 1-800-222-TIPS (8477) or http://www.saskcrimestoppers.com.

    Saskatchewan RCMP Major Crimes and General Investigation Sections have taken carriage of this suspicious death investigation. The Saskatchewan Coroners Service is also engaged and an autopsy has been ordered.

    MIL Security OSI –

  • MIL-OSI Translation: Government of Canada helps Hamilton faith-based and community organizations protect themselves from hate-motivated crimes

    MIL OSI Translation. Canadian French to English –

    Source: Government of Canada – in French

    Everyone living in Canada deserves to be and feel safe in their community. In recent years, we have seen an increase in hate incidents in many communities. This is unacceptable, and the federal government is taking action to combat hate and protect communities.

    September 29, 2024 Hamilton, Ontario

    Everyone living in Canada deserves to be and feel safe in their community. In recent years, we have seen an increase in hate incidents in many communities. This is unacceptable, and the federal government is taking action to combat hate and protect communities.

    Today, the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario, on behalf of the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs, announced an investment of $251,893 to faith-based and community organizations in Hamilton through the Security Infrastructure Program (SIP).

    On September 24, Minister LeBlanc announced the launch of the new Canada Community Safety Program (CCSP), which aims to replace and improve the work undertaken under the PFPIS based on feedback from communities. The first call for applications will be launched on 1 October 2024.

    Eligible measures include security equipment and materials, minor renovations to enhance security, security and emergency plans and assessments, hate-motivated incident response training, and third-party certified security personnel for a limited period of time.

    Public Safety will contact organizations that have submitted an application under the PFPIS to discuss the status of their application and their participation under the PSCC.

    Organizations wishing to be kept informed of the launch of the next PSCC call for applications are invited to register at distribution list of the National Crime Prevention Strategy.

    “Hate-motivated incidents have no place in Canada. All Canadians deserve to feel safe, no matter where they live, work, gather and worship. Investments like these are just one example of the government’s ongoing commitment to keeping our country safe for everyone, regardless of our religious affiliation or beliefs.”

    – The Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario, on behalf of the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs

    Gabriel Brunet Press SecretaryOffice of the Honourable Dominic LeBlancMinister of Public Safety, Democratic Institutions and Intergovernmental Affairs819 665-6527gabriel.brunet@iga-aig.gc.ca  

    Media RelationsPublic Safety Canada613 991-0657media@ps-sp.gc.ca

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

    MIL Translation OSI

  • MIL-OSI Translation: The Government of Canada helps religious organizations in Brossard protect themselves against hate-motivated crimes

    MIL OSI Translation. Canadian French to English –

    Source: Government of Canada – in French

    Everyone living in Canada deserves to be and feel safe in their community. In recent years, we have seen an increase in hate incidents in many communities. This is unacceptable, and the federal government is taking action to combat hate and protect communities.

    September 29, 2024Brossard (Quebec)

    Everyone living in Canada deserves to be and feel safe in their community. In recent years, we have seen an increase in hate incidents in many communities. This is unacceptable, and the federal government is taking action to combat hate and protect communities.

    Today, Alexandra Mendès, Member of Parliament for Brossard—Saint-Lambert, announced, on behalf of the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs, an investment of $6,627 to a religious organization in Brossard under the Security Infrastructure Projects Financing Program (SIPF).

    On September 24, Minister LeBlanc announced the launch of the new Canada Community Safety Program (CCSP), which aims to replace and improve the work undertaken under the PFPIS based on feedback from communities. The first call for applications will be launched on 1 October 2024.

    Eligible measures include security equipment and materials, minor renovations to enhance security, security and emergency plans and assessments, hate-motivated incident response training, and third-party certified security personnel for a limited period of time.

    Public Safety will contact organizations that have submitted an application under the PFPIS to discuss the status of their application and their participation under the PSCC.

    Organizations wishing to be kept informed of the launch of the next PSCC call for applications are invited to register at distribution list of the National Crime Prevention Strategy.

    “I am pleased to see the organization taking full advantage of Canada’s Community Safety Program. Given the increase in hate-motivated incidents, this enhanced physical security measure will help ensure that everyone visiting the centre feels safe in their gathering place.”

    – Alexandra Mendès, Member of Parliament for Brossard—Saint-Lambert, on behalf of the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs

    Gabriel Brunet Press SecretaryOffice of the Honourable Dominic LeBlancMinister of Public Safety, Democratic Institutions and Intergovernmental Affairs819 665-6527gabriel.brunet@iga-aig.gc.ca  

    Media RelationsPublic Safety Canada613 991-0657media@ps-sp.gc.ca

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

    MIL Translation OSI

  • MIL-OSI Translation: Government of Canada helps Calgary faith-based and community organizations protect themselves from hate-motivated crimes

    MIL OSI Translation. Canadian French to English –

    Source: Government of Canada – in French

    Everyone living in Canada deserves to be and feel safe in their community. In recent years, we have seen an increase in hate incidents in many communities. This is unacceptable, and the federal government is taking action to combat hate and protect communities.

    September 29, 2024 Calgary, Alberta

    Everyone living in Canada deserves to be and feel safe in their community. In recent years, we have seen an increase in hate incidents in many communities. This is unacceptable, and the federal government is taking action to combat hate and protect communities.

    Today, George Chahal, Member of Parliament for Calgary Skyview, on behalf of the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs, announced an investment of $183,703 to faith-based and community organizations in Calgary and southern Alberta through the Security Infrastructure Program (SIP).

    On September 24, Minister LeBlanc announced the launch of the new Canada Community Safety Program (CCSP), which aims to replace and improve the work undertaken under the PFPIS based on feedback from communities. The first call for applications will be launched on 1 October 2024.

    Eligible measures include security equipment and materials, minor renovations to enhance security, security and emergency plans and assessments, hate-motivated incident response training, and third-party certified security personnel for a limited period of time.

    Public Safety will contact organizations that have submitted an application under the PFPIS to discuss the status of their application and their participation under the PSCC.

    Organizations wishing to be kept informed of the launch of the next PSCC call for applications are invited to register at distribution list of the National Crime Prevention Strategy.

    “All Canadians deserve to feel safe, no matter where they live, work, gather and worship. As a government, we are committed to ensuring that this is the case. Investments like the one we are making today are just one example of this ongoing commitment.”

    – George Chahal, Member of Parliament for Calgary Skyview, on behalf of the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs

    Gabriel Brunet Press SecretaryOffice of the Honourable Dominic LeBlancMinister of Public Safety, Democratic Institutions and Intergovernmental Affairs819 665-6527gabriel.brunet@iga-aig.gc.ca  

    Media RelationsPublic Safety Canada613 991-0657media@ps-sp.gc.ca

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

    MIL Translation OSI

  • MIL-OSI Canada: Backgrounder: Investing in active communities and access to transit in Belleville

    Source: Government of Canada News

    Backgrounder

    The federal government is investing $4,696,742 through the Public Transit Infrastructure Stream of the Investing in Canada Infrastructure Program to support six public transit projects in Belleville. The Government of Ontario is contributing $3,913,561 and the City of Belleville is investing $4,164,698.

    Project Information:

    Location

    Project Name

    Project Details

    Federal Funding

    Provincial Funding

    Municipal Funding

    City of Belleville

    New Bus Purchases

    Purchasing four new, 12-metre hybrid buses and one seven-metre conventional bus.

    $2,246,742

    $1,872,098

    $2,531,160

    City of Belleville

    Construction of the Hydro Corridor Trail (Sidney to Moira River)

    Building a multi-use path within the Hydro One transmission corridor to provide access to public transportation stops.

    $1,400,000

    $1,166,550

    $933,450

    City of Belleville

    Smart Fare Card Project

    Upgrading the existing technology to allow a wider range of payment options and better security on buses.

    $480,000

    $399,960

    $320,040

    City of Belleville

    AODA Bus Stop & Shelter Upgrades

    Upgrading 10 bus stops to increase their accessibility to the public.

    $280,000

    $233,310

    $186,690

    City of Belleville

    College St. East Sidewalk Construction (Jamieson Bone Rd to East End)

    Building approximately 1.5 kilometres of new sidewalk to allow active transportation for commuters.

    $200,000

    $166,650

    $133,350

    City of Belleville

    Hybrid Commercial Accessible Vans

    Purchasing two hybrid fully accessible vans, which will be used as flexible emergency mobility transport vehicles.

    $90,000

    $74,993

    $60,008

    MIL OSI Canada News –

  • MIL-OSI Canada: Backgrounder: Water infrastructure upgrades across British Columbia 

    Source: Government of Canada News

    Backgrounder

    The federal government is investing more than $3 million through the Green Infrastructure Stream of the Investing in Canada Infrastructure Program (ICIP) to support four water infrastructure projects across British Columbia. The Government of British Columbia is investing more than $2.5 million in these projects and municipal partners are contributing a combined $2 million and are responsible for any additional costs.

    Project Information:

    Location

    Project Name

    Project Details

    Federal Funding

    Provincial Funding

    Municipal Funding

    *City of Richmond

    Minoru Park Drainage and Sustainability Enhancements

    This project will build a stormwater detention pond and improve ditches to capture, treat, and reduce sedimentation from stormwater in downstream canals and storm mains.

    $958,750

    $798,878

    $639,247

    *District of Hope

    Water Utility Amalgamation Project

    This project will rehabilitate a water storage reservoir and construct a booster station to enhance water access and fire-fighting capabilities.

    $850,038

    $708,294

    $566,763

    *Village of Harrison Hot Springs

    Hot Springs Road (Hwy 9) – Storm Sewer Infrastructure

    This project will upgrade stormwater infrastructure to increase its capacity to treat and manage stormwater to prevent future flooding.

    $800,000

    $666,600

    $533,400

    *Regional District of Alberni-Clayoquot

    West Bamfield Submarine Water Main Replacement Project

    This project will replace a submarine water main to deliver treated, potable water to the community and enhance fire-fighting capabilities.

    $470,095

    $391,707

    $313,436

    *Federal funding is conditional on fulfilling all requirements related to consultation with Indigenous groups and environmental assessment obligations.

    MIL OSI Canada News –

  • MIL-OSI Canada: Government of Canada helps religious and community organizations in Hamilton protect themselves against hate-motivated crimes

    Source: Government of Canada News

    Everyone who lives in Canada deserves to be and feel safe in their communities. These last few years, we’ve witnessed a rise in hate incidents experienced by many communities. This is unacceptable, and the federal government is taking action to combat hate and protect communities.

    September 29, 2024
    Hamilton, Ontario

    Everyone who lives in Canada deserves to be and feel safe in their communities. These last few years, we’ve witnessed a rise in hate incidents experienced by many communities. This is unacceptable, and the federal government is taking action to combat hate and protect communities.

    Today, the Honourable Filomena Tassi, Minister of the Federal Economic Development Agency for Southern Ontario, on behalf of the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs, announced an investment of $251,893 to religious and community organizations in Hamilton through the Security Infrastructure Program (SIP).

    On September 24, Minister LeBlanc announced the new Canada Community Security Program (CCSP), which replaces and enhances the SIP based on communities’ feedback. The first Call for Applications launches October 1, 2024.

    Eligible measures include security equipment and hardware, minor renovations to enhance security, security and emergency assessments and plans, training to respond to hate-motivated events, and time-limited third-party licensed security personnel.

    Organizations that currently have an application under SIP will be contacted by Public Safety to discuss the status of the application and their option to continue under the CCSP.

    Organizations interested in staying informed about the upcoming CCSP Call for Applications are encouraged to subscribe to the National Crime Prevention Strategy mailing list.

    “Canada has no place for hate-motivated incidents and all Canadians deserve to feel safe— regardless of where they live, work, gather and pray. Investments like these are but one example of the government’s ongoing commitment to keep our country safe for all, no matter your religious affiliation or beliefs.”

    – The Honourable Filomena Tassi, Minister of the Federal Economic Development Agency for Southern Ontario, on behalf of the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs

    Gabriel Brunet
    Press Secretary
    Office of the Honourable Dominic LeBlanc
    Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs
    819-665-6527
    gabriel.brunet@iga-aig.gc.ca  

    MIL OSI Canada News –

  • MIL-OSI Canada: Government of Canada helps religious and community organizations in Calgary protect themselves against hate-motivated crimes

    Source: Government of Canada News (2)

    Everyone who lives in Canada deserves to be and feel safe in their communities. These last few years, we’ve witnessed a rise in hate incidents experienced by many communities. This is unacceptable, and the federal government is taking action to combat hate and protect communities.

    September 29, 2024
    Calgary, Alberta

    Everyone who lives in Canada deserves to be and feel safe in their communities. These last few years, we’ve witnessed a rise in hate incidents experienced by many communities. This is unacceptable, and the federal government is taking action to combat hate and protect communities.

    Today, George Chahal, Member of Parliament for Calgary Skyview, on behalf of the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs, announced an investment of $183,703 to religious and community organizations in Calgary and Southern Alberta through the Security Infrastructure Program (SIP).

    On September 24, Minister LeBlanc announced the newly launched Canada Community Security Program (CCSP), which replaces and enhances the work undertaken through the SIP based on communities’ feedback. The first Call for Applications launches October 1, 2024.

    Eligible measures include security equipment and hardware, minor renovations to enhance security, security and emergency assessments and plans, training to respond to hate-motivated events, and time-limited third-party licensed security personnel.

    Organizations that currently have an application under SIP will be contacted by Public Safety to discuss the status of the application and their option to continue under the CCSP.

    Organizations interested in staying informed about the upcoming CCSP Call for Applications are encouraged to subscribe to the National Crime Prevention Strategy mailing list.

    “All Canadians deserve to feel safe— regardless of where they live, work, gather and pray. As a government, we are committed to ensuring that that is the case. Investments like the one we are making today are but one example of that ongoing commitment.”

    – George Chahal, Member of Parliament for Calgary Skyview, on behalf of the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs

    Gabriel Brunet
    Press Secretary
    Office of the Honourable Dominic LeBlanc
    Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs
    819-665-6527
    gabriel.brunet@iga-aig.gc.ca  

    MIL OSI Canada News –

  • MIL-OSI Australia: Man arrested for crime spree from Adelaide to Jamestown

    Source: South Australia Police

    A man will face court tomorrow following a crime spree spanning from Adelaide to the States Mid North.

    Just before 2pm on Saturday 28 September an off-duty police member spotted a Haval SUV ​in Ary Street, Jamestown bearing false number plates and a man attempting to leave in the vehicle.

    The car had allegedly been stolen in early August in Victoria and had committed several petrol thefts in Adelaide and Clare in the last month.

    The off-duty officer attempted to speak with the driver who drove at him causing him to take evasive action to prevent being hit by the car.

    A second off-duty member together with members of the public rushed to assist the officer and the man was arrested.

    Following investigation police searched an address at Springbank Road where several firearms together with suspected stolen property was located.

    A 43-year-old man of no fixed address has been charged with a wrath offences including assault prescribed emergency worker, firearms offences, unlawful possession, going equipped, hinder police, serious criminal trespass and theft.

    He has been refused police bail and will appear before the Port Pirie Magistrates Court on Monday 30 September.

    Investigations are continuing into further offences committed by the suspect.

    Anyone with information is asked to contact Crime Stoppers on 1800 333 000 or online at http://www.crimestopperssa.com.au ​– you can remain anonymous.

    MIL OSI News –

  • MIL-OSI Africa: United Nations General Assembly (UNGA 79): Africa Adaptation Acceleration Program Receives Nationally Determined Contributions (NDC) Investment Award

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

    NEW YORK, United States of America, September 29, 2024/APO Group/ —

    The Africa Adaptation Acceleration Program (AAAP) (http://apo-opa.co/3ZHg6nA) has been honored as the “Best Investable NDC Adaptation Investment Initiative of the Year” at the 2024 African NDC Investment Awards.

    The award, presented during the African NDC Institutional Investment Summit in New York, held on the margins of the United Nations General Assembly, recognizes the AAAP’s groundbreaking efforts to accelerate climate adaptation across the continent.

    Launched by the African Development Bank and the Global Center on Adaptation (GCA) in 2021, the AAAP set an ambitious goal to mobilise $25 billion by 2025 to drive transformative climate adaptation actions across Africa. To date, the Bank has committed $12.5 billion and by the end of 2023 had successfully mobilised $9.22 billion.

    Sponsored by the African Green Infrastructure Investment Bank and presented by Africa Investor Magazine, the award honors projects that excel in advancing Nationally Determined Contributions (NDC) by mobilizing private climate capital and enhancing investment readiness. Africa’s NDC implementation requires over $3 trillion by 2030 to meet the continent’s adaptation and mitigation goals.

    Accepting the award on behalf of the African Development Bank, Professor Anthony Nyong, Director for Climate Change and Green Growth, said: 

    “This recognition is a testament to the incredible impact the Africa Adaptation Acceleration Program is having across the continent. We are not only on track to meet our financial commitments, but we are also transforming lives through resilient infrastructure, food security, and youth entrepreneurship. Together with our partners, we are driving real change and positioning Africa at the forefront of global climate adaptation efforts.”

    AAAP’s impact is already being felt throughout the continent, with climate adaptation initiatives integrated into 38 African Development Bank operations and 30 technical assistance activities over 41 countries. These projects cover critical sectors such as agriculture, water and sanitation, transport, energy access, and urban development to the benefit of millions of people. The AAAP exemplifies how innovative financing and partnerships can address the most pressing climate challenges.

    The program’s focus on youth entrepreneurship and job creation stands out, with $5.5 million invested to support 41 young climate innovators in 20 African countries, positioning Africa’s youth as leaders in adaptation.

    In the critical area of food security, the AAAP has implemented 17 investment and technical assistance projects across the Sahel, Horn of Africa, and Zambezi regions, improving food resilience for 9.4 million people. Meanwhile, the AAAP’s work on resilient infrastructure includes 28 projects in 23 countries, ensuring that communities are better equipped to withstand climate shocks.

    AAAP’s Technical Assistance Program has enabled 14 African entities to gain accreditation with the Green Climate Fund (GCF), facilitating direct access to vital climate finance. These efforts have led to the development of GCF proposals that mobilized over $250 million, benefiting 4.6 million people across Djibouti, Somalia, Kenya, Ethiopia, and South Sudan.

    Recognized at the 35th Ordinary Session of the African Union for its achievements, the AAAP is setting the standard for climate adaptation in Africa and beyond. The program’s success is sparking global interest, with its model being adapted in Asia. Discussions are underway to extend it to small island developing states.

    Richard Uku, Director of External Affairs at the Global Center on Adaptation, represented GCA’s CEO Professor Patrick V. Verkooijen. He said: “This award highlights the power of partnership. The Africa Adaptation Acceleration Program demonstrates that when we work together, we can achieve scale and speed in climate adaptation efforts.”

    MIL OSI Africa –

  • MIL-OSI Australia: Drink drivers charged after two separate traffic crashes on grand final day

    Source: Tasmania Police

    Drink drivers charged after two separate traffic crashes on grand final day

    Monday, 30 September 2024 – 10:46 am.

    Two men will appear in the Hobart Magistrates Court after they were involved in two separate traffic crashes on Saturday.
    Huonville Police responded to reports of a hit and run traffic crash on Wilmot Road, Huonville about 4.45pm on Saturday.
    Investigations revealed that a driver was attempting to turn into their driveway when they were struck from behind and the driver had left the scene of the crash.
    Police located the driver a short time later and a 43-year-old male from Ranelagh, was taken into custody where he returned a breath alcohol content reading of 0.270, more than five times the legal limit.
    He was charged with drink driving and failing to stop and bailed to appear in the Hobart Magistrates Court at a later date.
    About 8.55pm on Saturday, Huonville Police responded to reports of a second traffic crash on Conlans Road South.
    A 20-year-old male from Huonville, the sole occupant of the vehicle lost control of his vehicle colliding with guard rail before coming to rest down the embankment.
    The driver was taken into police custody where he returned a breath alcohol content reading of 0.119 and was charged with drink driving and bailed to appear in the Hobart Magistrates Court at a later date.
    Thankfully, nobody was hurt as a result of either crash.
    Senior Constable Adam Bertoli said this sort of dangerous driving behaviour puts innocent people at risk, and won’t be tolerated.
    “Police are out on the roads every day enforcing the rules to keep our community safe, and we will continue to do everything we can to stop illegal and dangerous driving occurring.”
    “Anyone who sees such driving should call police immediately on 131 444, or Triple Zero (000) in an emergency.”

    MIL OSI News –

  • MIL-OSI New Zealand: Ethical Investments – $100 billion of KiwiSaver funds use an ethical approach – Mindful Money

    Source: Mindful Money
    From Niche to Norm: $100 billion of KiwiSaver funds use an ethical approach

    Monday 30th September 2024 – New analysis from the charity, Mindful Money, shows good news about Kiwis investing ethically. There is rising demand for ethical investment, more Kiwis aware of the companies in their KiwiSaver fund, and a sharp decline in unethical investment. Ethical investment has progressed from a niche to become the dominant approach to managing investments.

    As KiwiSaver hits $111 billion in funds under management, the FMA has estimated that 90% of KiwiSaver is now managed with some form of ethical investing approach, usually through Environmental, Social and Governance (ESG) analysis. This means that $100 billion of KiwiSaver funds are now managed with some form of ethical management.

    Barry Coates, co-CEO of the charity Mindful Money explained, “Members of the public understand that their investments have consequences for the issues they care about – climate change, a healthy environment and social well-being. Mindful Money helps them find out where their money goes. Knowledge is power, and Kiwi investors are using it.”

    Ethical investing is now good practice

    This growth in ethical investing is primarily driven by two key factors. Firstly, the growth in consumer demand, as more investors become aware that their investments have consequences for the climate, the environment and social well-being. And secondly, the understanding by investment providers that it makes sense to reduce the growing financial risks of poor environment, social or governance practices.

    Coates emphasised the power of collective action: “This remarkable progress demonstrates the undeniable impact of people power. As more New Zealanders demand ethical investment options, we’re witnessing a fundamental shift in the market. It’s clear that informed and engaged citizens have the ability to reshape the financial landscape, driving positive change that aligns with our shared values and aspirations for a better world.”

    Unethical investment is on a downward trend

    Mindful Money has data on the trend in KiwiSaver and managed funds investment over the past six years and has been tracking progress. There have been significant changes in the proportion of investment in unethical issues.

    These include:

    • 74% fall in tobacco products
    • 33% fall in alcohol
    • 20% fall in gambling
    • 69% fall in pornography and adult entertainment
    • 31% fall in weapons
    • 29% fall in animal cruelty
    • 16% fall in environmental damage

    Barry Coates expressed optimism about these developments: “We’re seeing promising signs that the investment sector is starting to shift gears. More funds are moving towards ethical options than ever before, reflecting the growing demand from Kiwi investors for investments that align with their values.”

    “For example, KiwiSaver investments in nuclear weapons have plummeted from over $100 million in 2019 to $13 million currently, despite a huge increase in overall KiwiSaver funds. The investment providers are getting the message that their clients don’t want their money to be invested in making nuclear weapons. As a nation, we’ve long stood against nuclear weapons, and now our investments are starting to reflect our values.”

    There is still $9.3 billion of KiwiSaver investment in harmful activities

    Despite the progress, there is still a significant gap between the issues that the public wants to avoid, as shown in annual surveys, and the companies their funds actually invest in. //enz.milnz.co.nz/wp-content/uploads/2024/09/image001.pngimage001.png@01DB1331.F2737620” class=”gmail-CToWUd gmail-a6T” tabindex=”0″ style=”cursor: pointer; outline: 0px; width: 6.5in; height: 4.875in;”>

    Barry Coates noted: “Some fund managers are too focused on short term returns.  Examples are increased investment in the world’s worst oil and gas companies when oil prices rose after Russia invaded Ukraine, or investments in weapons companies that have profited from bombing in Gaza.”

    He explained: “In the long term, there is evidence that ethical investment returns are at least as high or higher than conventional investing.  Chasing short term returns from investing in harmful activities is unethical and against the wishes of most investors. It is also financially risky, relying on fund managers believing they can time the rises and falls of financial markets.” 

    “The positive trends we’ve observed so far give us confidence that, with continued awareness and action from investors, we can significantly reduce these figures in the coming years.”

    Mindful Money’s impact report shows action to drive change

    Mindful Money is celebrating a milestone. After 6 years since the charity started, over 400,000 New Zealanders have now used its tool for transparency. Mindful Money is uniquely able to show consumers where their KiwiSaver or Managed funds are invested.

    While celebrating progress, Mindful Money remains committed to driving further positive change. Coates notes, “Our 2023/2024 impact report not only highlights the progress we’ve made but also identifies future priorities. The growth in demand for ethical investing is encouraging, but it also highlights the need for fund managers to walk the talk and avoid greenwashing.”

    Barry Coates continued, “Transparency is a wonderful thing. When investors see where their money is invested, and understand that it is easy to switch funds, they are making informed choices. There has been a significant rise in people switching their investments towards funds that demonstrate that they care about ethical issues as well as good returns.”

    Notes:

    Survey data is from the 2024 annual survey of the New Zealand public by Mindful Money and the Responsible Investment Association of Australasia.

    The FMA’s estimate of 90% of investment being managed with a form of ethical investment policy was included in FMA’s General Council, Liam Mason’s speech to the RIAA NZ Conference on 19th September 2024.

    Mindful Money is today releasing its 2023/2024 impact report. It shows the contributions that Mindful Money is making to the transformation of New Zealand’s investments towards higher ethical standards and positive impact.

    More members of the public are now finding out about the companies funded by their investments, categorised by the issues that annual surveys show Kiwis most want to avoid – human rights violations, environmental damage, animal cruelty, weapons, fossil fuels and social harm. Mindful Money is a charity and the information is accessible, easy to use and entirely free.

    The portfolio data is compiled by Mindful Money from the fund information and portfolios that each KiwiSaver fund has filed with the Disclose register to 31st March 2024, supplemented with Mindful Money’s analysis of funds within those portfolios. The list of companies of concern has been drawn from ratings agencies and public sources, including the Norwegian Sovereign Fund, NZ Super Fund, Sustainalytics and research organisations.

    The listing of companies of concern is based on definitions used in Mindful Money’s methodology. These definitions may be different from the exclusions policy and definitions applied by the fund provider.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: $150 million to make SEQ an innovation powerhouse

    Source: Australian Executive Government Ministers

    South East Queensland (SEQ) is set to become an innovation powerhouse thanks to more than $150 million of investment in infrastructure to boost the region’s innovation economy.

    The SEQ Innovation Economy Fund is part of the $1.8 billion SEQ City Deal, a partnership between the Australian Government, Queensland Government and Council of Mayors (SEQ), which aims to improve the accessibility, prosperity and liveability of the region – home to around four million residents.  

    Eligible local governments, industry, public and private entities can now apply for funding for capital projects that will deliver new and improved innovation infrastructure in SEQ and help grow high-value, knowledge-intensive jobs across the region.

    The Australian and Queensland Governments have committed $50 million each to create the fund, with at least $50 million in co-contributions required from industry.

    The fund aims to support capital projects which will:

    • develop infrastructure within existing SEQ innovation precincts to accelerate the delivery of high value, future-focussed employment opportunities
    • grow the SEQ innovation economy through the development and commercialisation of innovative products, services or processes using new and sustainable technologies
    • develop new and leverage existing partnerships that strengthen the SEQ innovation economy to drive greater economic, environmental and social outcomes for the region.

    Funding of up to $25 million is available for major capital projects that include new builds, extensions or refurbishments of innovation infrastructure, the purchase and installation of new equipment, or innovation-specific expansions to current capital projects.

    Funding of up to $5 million is available for minor capital projects including refurbishments and the purchase and installation of new equipment. 

    Applications for the SEQ Innovation Economy Fund close 22 November 2024. More information can be found at https://advance.qld.gov.au/grants-and-programs/innovation-economy-fund.

    Quotes attributable to Federal Minister for Cities Jenny McAllister:

    “We want to help grow South East Queensland’s innovation economy.

    “Investing in future technologies and industries will drive innovation, create more high value job opportunities and make South East Queensland an even more exciting place to work and live.”

    “The Albanese Government is working closely with our state and local government partners to deliver initiatives that benefit the community and support the local economy.”

     Quotes attributable to Queensland Minister for State Development and Infrastructure Grace Grace:

    “The SEQ City Deal is a partnership between three levels of government with the aim of supporting jobs, improving connectivity and preserving and enhancing the SEQ region’s liveability.

    “SEQ is an emerging economic powerhouse, with thriving industries and businesses offering new opportunities for employment and business growth for liveable and sustainable communities for the future.

    “The SEQ Innovation Economy Fund will help local governments, industry, public and private entities deliver new and improved innovation infrastructure in SEQ and help grow high-value jobs across the region.”

    Quotes attributable to Queensland Minister for Science and Innovation Leanne Linard:

    “The Queensland Government is committed to building a groundbreaking and thriving innovation economy in South East Queensland.

    “Brisbane, in particular, is one of the fastest growing tech hubs in the country, with more than 185,000 residents expected to be employed in tech hub industries by 2030.

    “This investment by the SEQ Innovation Economy Fund will drive further growth in our critical innovation industries and accelerate the creation of new and exciting knowledge-intensive jobs of the future.”

    MIL OSI News –

  • MIL-OSI China: Mergers, acquisitions in Chinese capital market gain steam

    Source: China State Council Information Office

    This panoramic aerial photo taken on Jan. 10, 2023 shows a view of Lujiazui area in the China (Shanghai) Pilot Free Trade Zone in east China’s Shanghai. [Photo/Xinhua]

    Mergers and acquisitions (M&A) among Chinese listed firms have gathered pace in recent months thanks to favorable policies to consolidate companies’ competitiveness, contributing to the high-quality development of the country’s capital market.

    The number of such M&A cases saw a marked increase from the same period last year, with 46 major asset reorganization deals disclosed between May and mid-September, according to information made public by companies listed on the A-share market.

    “So far this year, M&A has been particularly active among technology firms, state-owned enterprises (SOEs) and securities companies, with market forces playing a bigger role in the deals,” said Tian Lihui, head of the Institute of Finance and Development at Nankai University.

    A telling example is the acquisition of APT Medical, a manufacturer and supplier listed on Science and Technology Innovation Board (STAR) market, by Mindray, an industry leader in medical equipment development and manufacturing.

    The transaction was announced in January and completed in April. By combining APT Medical’s advantages in the field of electrophysiology and vascular intervention medical devices and Mindray’s R&D capability and overseas marketing experience, the deal improved the competitiveness of both companies.

    Semi-annual financial reports show that the net profits of Mindray and APT Medical increased by 17.37 percent and 33.09 percent, respectively, in the first six months of this year.

    In June, the China Securities Regulatory Commission (CSRC) publicized a slew of measures to further reform the STAR market and pledged greater efforts to support M&A activities among companies listed in the market.

    The CSRC said it will support industrial chain integration among the companies, and make M&A institutions more inclusive by supporting companies to acquire high-quality tech firms that are yet to make profits.

    Driven by such measures, the transaction values of M&A deals of the companies on the STAR market exceeded 3 billion yuan (about 427.34 million U.S. dollars) in the first half of the year, doubling that of the same period in the previous year, data from the Shanghai Stock Exchange showed.

    Technology companies can accelerate innovation and industrial upgrading through M&A activities, said Tian.

    In addition, SOEs at both central and local levels are also leveraging M&A to drive industrial specialization and integration, enhancing industrial synergy with business partners.

    In September, two listed subsidiaries of China State Shipbuilding Corporation announced a plan to merge, which is expected to be one of the largest M&A transactions in the A-share market by market value in recent years.

    The merger is projected to propel the new entity to a leading global position in shipbuilding, characterized by comprehensive research and innovation capabilities, along with a rich product structure and production lines, according to a research note from Huatai Securities.

    Securities firms also saw major M&A deals this year, with Guotai Junan Securities and Haitong Securities planning to merge through a share swap.

    In recent years, the CSRC has continuously promoted market-oriented reform in the M&A of listed companies. This has been achieved through a slew of measures, including streamlining approval procedures and optimizing regulatory requirements.

    The effort was intensified this year. In the context of global industrial transformation and China’s accelerated economic structural upgrade, it is “urgent” for companies to harness M&A’s pivotal role in promoting industrial integration as well as enhancing industry quality and efficiency, CSRC Chairman Wu Qing said at a press conference on Tuesday.

    On the same day, the CSRC rolled out new measures to support Chinese listed companies in pursuing M&A activities, vowing to help channel more resources toward new quality productive forces, encourage the companies to enhance industrial consolidation and elevate their investment value through improving market value management.

    Tian anticipated that the regulator’s latest policies will further invigorate China’s M&A market and drive the transformation and upgrading of listed companies.

    “The M&A trend is expected to continue and play an important role in sharpening companies’ competitiveness, especially in areas related to SOE reform, sci-tech innovation and financial service integration,” he said.

    MIL OSI China News –

  • MIL-OSI China: China eyes long-term funds to promote stable, sustainable capital market

    Source: China State Council Information Office

    China is intensifying moves to channel long-term funds into its capital market as part of the efforts to boost investor confidence and enhance market stability.

    Central authorities recently issued guidelines to streamline the entry of medium- and long-term capital from social security funds, insurance funds and wealth management funds into the market.

    The main measures contained in the guidelines include fostering a favorable long-term investment ecosystem, promoting the development of public and private equity funds, and improving related policies for medium- and long-term stock investment, according to the office of the Central Financial Work Commission and the China Securities Regulatory Commission.

    Financial analysts have expressed widespread recognition of the value of these policies. Du Xingye, an associate professor at the University of International Business and Economics, emphasized the necessity of attracting long-term funds. Ming Ming, chief economist at CITIC Securities, believes the move will help build long-term confidence.

    The entry of long-term capital can help reduce market fluctuations and enhance overall market stability as such funds typically possess well-structured research teams capable of discovering a company’s value and executing long-term investment strategies, said Liu Xinyu, co-general manager of the public investment department of Rivers Fund, a public equity fund.

    In recent years, calls for increasing long-term fund participation have intensified in China, and related measures have been introduced. However, while some progress has been made, an institutional environment friendly to long-term investment has not yet been fully established.

    At the end of August 2024, institutional investors, including public equity, insurance and various pension funds, collectively held 14.5 trillion yuan (about 2 trillion U.S. dollars) of circulating A-shares. Their proportion of the total market value increased from 17 percent at the beginning of 2019 to 22.2 percent by August.

    There is significant room for growth for long-term funds in the capital market, experts said, noting that the increasing participation of such funds, which feature higher professional standards and stability, will optimize the investor structure.

    The latest guidelines achieved substantial policy breakthroughs in areas such as long-cycle assessment for funds, policy synergy and the building of a supportive market ecosystem.

    A three-year long-cycle assessment mechanism for insurance funds and various pension funds will be established, and investment policies will also be improved for the national social security fund and basic pension insurance fund, according to the guidelines.

    Problems in the current short-sighted assessment approach for funds are prominent, as the undue emphasis on short-term profit targets has overshadowed the importance of long-term metrics.

    Wang Peng, an associate researcher at the Beijing Academy of Social Sciences, said the guidelines specifically address assessment challenges, thereby helping to reduce obstacles preventing long-term funds from flowing into the stock market.

    Additionally, Pan Hongsheng, chief economist of the China Institute of Finance and Capital Markets, said the guidelines support institutional investors’ participation in corporate governance, which will solidify the market foundation for long-term fund entry. It is crucial to create an ecosystem where long-term funds can “enter, stay and thrive,” Pan added.

    China’s central bank, top securities regulator and financial regulator Tuesday announced a raft of monetary stimulus, property market support and capital market strengthening measures to boost the country’s high-quality economic development.

    The Political Bureau of the Communist Party of China Central Committee held a meeting on Thursday to analyze and study the current economic situation and make further arrangements for economic work.

    The meeting called for efforts to boost the capital market, vigorously guide medium- and long-term funds to enter the capital market, and clear obstacles for social security, insurance and wealth management funds to invest in the capital market.

    Thanks to the new measures, the investor confidence has improved significantly, with the stock market on an upward streak in recent days.

    The benchmark Shanghai Composite Index closed at 3,087.53 points on Friday — a 12.81 percent weekly gain. The Shenzhen Component Index soared 17.83 percent in the week to close at 9,514.86 points.

    On Friday alone, the combined turnover of the two indices neared 1.45 trillion yuan, surpassing the 1-trillion-yuan mark for a third consecutive day.

    MIL OSI China News –

  • MIL-OSI New Zealand: Have your say: 30-year plan to share the cost of growth

    Source: Auckland Council

    Aucklanders are encouraged to have their say on a new policy for development contributions.  The consultation is open from Monday 30 September until Friday 15 November 2024.   

    Development contributions are fees the council charges developers to help fund the cost of growth in Tāmaki Makaurau.   

    The council uses this money to help pay for new assets that are needed to support the new households or business properties that have been, or will be, developed in Auckland. This includes roads and footpaths, parks; libraries and community facilities; and drainage and stormwater systems.  

    Andrew Duncan, Manager of Financial Policy at Auckland Council, notes providing the infrastructure to support expected growth is a key council function.  

    “Infrastructure allows new developments to be built and ensures Aucklanders have access to the activities and services they expect.   

    “Tāmaki Makaurau is growing at a rapid rate – Auckland’s population is expected to grow by approximately 600,000 people over the next 30 years.  

    “Development contributions are a way of ensuring that growth pays for growth and the costs of infrastructure are fairly shared between developers, ratepayers, and funding from the government.”  

    Sharing the cost of growth  

    Over the 10-year period from 2024 to 2034 the council will be investing around $39.3 billion in its capital investment programme, which includes $10.3 billion of projects with a growth component. It’s also planning to invest $10.9 billion from 2034 to 2054 in the Investment Priority Areas at Drury, the Inner Northwest and the Auckland Housing Programme areas at Tāmaki, Mt Roskill, and Māngere. These areas are joint priority areas with the government and are key locations where the council can focus its limited resources. The development contributions policy makes sure the cost of new infrastructure is fairly shared between developers and ratepayers based on who causes the need for the infrastructure and who benefits from it.  
      
    Without this policy, ratepayers would be covering the share of the cost of providing growth-related infrastructure that would otherwise fall to developers.  

    What will the policy cover?  

    The proposed policy will reflect:  

    • the spending and investment decisions over the 10-year period of the Long-term Plan (2024-2034)  
    • latest projections for growth in population and interest rates   
    • updates to project costs 
    • updates to long-term investments in Drury.  

    It also proposes to plan for long-term investment in Investment Priority Areas (IPAs) over the next 30 years in a similar way to what the council is already doing for Drury. These are key locations where the council can focus its limited resources. They are all joint priority areas with government, and the additional areas are:  

    • inner northwest areas at Red Hills, Westgate and Whenuapai  
    • the Auckland Housing Programme (AHP) areas at Tāmaki, Māngere and Mt Roskill.  

    Updated investments planned to 2034 and changes to Drury  

    These policy changes will increase the average price of contributions from $21,000 to $30,000 per household unit equivalent (HUE), which is the requirement for a typical residential home. This figure includes the capital spend reflected in all 10 years of the long-term plan.  

    The council has reviewed the need for stormwater infrastructure in Drury, as well as the level of investment needed here over the next 30 years. As a result, the average price for development contributions in Drury will rise from $70,000 to $83,000.  

    Investment in the additional priority areas  

    The council has assessed the long-term investment requirements for the inner northwest and Tāmaki, Māngere and Mt Roskill using the best information currently available. The addition of $8.9 billion of investment over 30 years in these areas will raise the average price for development contributions in:  

    • the inner northwest from $25k to $98k  
    • Māngere from $18k to $29k  
    • Mt Roskill from $20k to $52k  
    • Tāmaki from $31k to $119k.  

    The proposed higher development contributions reflect the value of the infrastructure that will be required to support development and will ensure that developers pay a fair share of these costs.   

    The council’s economic analysis shows that higher development contributions do not generally lead to higher house prices. The price of housing is determined by supply and demand for houses rather than the cost of land and building. National and international evidence shows that rather than impacting housing prices, an increase in development contributions could lead to a reduction in the price of undeveloped land over time.

    Have your say

    You can tell us what you think of the policy on the council’s Have Your Say webpage. You can also join one of our events.   

    Join our webinars on:  

    Come see us in-person at the Ellen Melville Centre at 2 Freyberg Place, Central Auckland 1010 in:  

    • the Marilyn Waring room on Thursday 17 October from 10am – 11.30am   
    • the Elizabeth Yates room on Thursday 31 October, from 1pm – 2.30pm  

    We want to hear your views. Have your say on the proposed development contributions policy from Monday 30 September until Friday 15 November 2024.   

    MIL OSI New Zealand News –

  • MIL-OSI Economics: Money Market Operations as on September 27, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 576,030.71 6.47 5.10-6.75
         I. Call Money 10,317.52 6.53 5.10-6.65
         II. Triparty Repo 409,571.75 6.44 6.25-6.60
         III. Market Repo 154,783.44 6.55 6.00-6.70
         IV. Repo in Corporate Bond 1,358.00 6.62 6.60-6.75
    B. Term Segment      
         I. Notice Money** 75.10 6.23 5.85-6.40
         II. Term Money@@ 558.00 – 6.60-7.10
         III. Triparty Repo 11,290.40 6.70 6.60-6.95
         IV. Market Repo 7.64 6.65 6.65-6.65
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Fri, 27/09/2024 1 Sat, 28/09/2024 3,210.00 6.75
      Fri, 27/09/2024 2 Sun, 29/09/2024 0.00 6.75
      Fri, 27/09/2024 3 Mon, 30/09/2024 1,200.00 6.75
    4. SDFΔ# Fri, 27/09/2024 1 Sat, 28/09/2024 89,303.00 6.25
      Fri, 27/09/2024 2 Sun, 29/09/2024 251.00 6.25
      Fri, 27/09/2024 3 Mon, 30/09/2024 28,399.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -113,543.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 20/09/2024 14 Fri, 04/10/2024 25,002.00 6.52
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 04/10/2021 1095 Thu, 03/10/2024 350.00 4.00
    Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,495.66  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     37,387.66  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -76,155.34  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on September 27, 2024 1,027,462.62  
         (ii) Average daily cash reserve requirement for the fortnight ending October 04, 2024 1,005,433.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ September 27, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on September 06, 2024 427,689.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad            
     Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1181

    MIL OSI Economics –

  • MIL-OSI Economics: ADB Approves $30 Million Financing to Strengthen Climate Resilience in Nepal

    Source: Asia Development Bank

    MANILA, PHILIPPINES (30 September 2024) — The Asian Development Bank (ADB) has approved a $30 million financing package to improve climate resilience, water resources management, and livelihoods of communities in Karnali and Sudurpashchim provinces in Nepal.

    “Nepal is increasingly at risk from the devastating impacts of climate change, as extreme weather events become more frequent. The Karnali and Sudurpashchim provinces are assessed to be the most vulnerable regions to climate change, largely owing to the poor communities’ low coping capacity” said ADB Environment Specialist Sumit Pokhrel. “This project will help communities in the targeted project areas to be more climate-resilient, build their capacity to preserve and manage their natural resources, and expand nature-based livelihood opportunities that will boost the local economy.”

    The package comprises a $10 million concessional loan and a $20 million grant from the Asian Development Fund, which provides grants to ADB’s poorest and most vulnerable developing member countries.

    The Climate-Resilient Landscapes and Livelihoods Project will help communities in 24 municipalities prepare catchment management plans to ensure effective water resources management and water security. The project will support the construction of small-scale drinking water systems and gravity-fed irrigation facilities. It will introduce water and soil conservation measures to protect landscapes from adverse effects of climate change. This includes the construction of soil erosion, surface runoff control, and infiltration structures; slope and stream bank stabilization; and land cover improvements such as nurseries, restoration of barren lands, and agroforestry.    

    ADB will provide grants to support nature-based livelihood investments such as the cultivation of medicinal and aromatic plants, non-timber forestry products, and indigenous crops. This will improve income opportunities of farmers and small and medium-sized enterprises, including women entrepreneurs. The project will also promote ecotourism in the region to diversify local communities’ income sources.  

    The project will build the capacity of federal, provincial and local governments to effectively plan, manage, and monitor water infrastructure, watersheds, and livelihood projects. At the local level, the project will train and inform communities on land and water preservation and conservation, and on nature-based livelihood opportunities.  

    ADB will administer an additional $2 million grant financed by the Community Resilience Partnership Program Trust Fund (CRPPTF) under the Community Resilience Financing Partnership Facility, which is dedicated to financing women-led small and medium enterprises. An additional $1.25 million grant from ADB’s Technical Assistance Special Fund and $500,000 from the CRPPTF is allocated for capacity building towards livelihood enhancement, ecotourism promotion, geographical indication, and independent project monitoring.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

    MIL OSI Economics –

  • MIL-OSI: Defiance ETFs Announces Monthly Distributions on $QQQY (65.47%) $JEPY (49.19%) $IWMY (72.57%) $SPYT (20.02%) $USOY (48.25%) $QQQT (20.02%)

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Sept. 30, 2024 (GLOBE NEWSWIRE) —

    09-30-2024 Distributions
    Ex & Record Date 10/1/2024. Payable on 10/3/2024.

    • QQQY – Nasdaq 100 Enhanced Options & 0DTE Income ETF. 65.47% distribution rate.* $1.9935/share.
    • WDTE (formerly JEPY) – S&P 500 Enhanced Options & 0DTE Income ETF. 49.19% distribution rate. $1.8085/share.
    • IWMY – R2000 Enhanced Options & 0DTE Income ETF. 72.57% distribution rate. $2.2389/share.
    • SPYT – S&P 500 Income Target ETF. 20.02% distribution rate. $0.3338/share.
    • USOY – Oil Enhanced Options Income ETF. 48.25% distribution rate. $0.6106/share.
    • QQQT – Nasdaq 100 Income Target ETF. 20.02% distribution rate. $0.3220/share.

    As of 08/31/2024 The 30-Day SEC Yield** for QQQY is 3.80%, JEPY is 3.91%, IWMY is 3.81%, SPYT is 0.51%, USOY is 4.30%, and QQQT is -0.13%

    New Income Strategy: Weekly Distributions

    We’re excited to announce that QQQY, WDTE (formerly JEPY), and IWMY now target weekly distributions. The first weekly declaration for these funds will occur on 10/9/2024. The full distribution schedule can be found on each fund page of the http://www.defianceetfs.com website.

    The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling 833.333.9383.

    QQQY Inception Date: 9/13/2023. Click here for QQQY Standardized Performance. WDTE Inception Date: 9/18/2023. Click here for WDTE Standardized Performance. IWMY Inception Date: 10/30/2023. Click here for IWMY Standardized Performance. SPYT Inception Date: 03/07/2024. Click here for SPYT Standardized Performance. USOY Inception Date: 05/09/2024. Click here for USOY Standardized Performance. QQQT Inception Date: 06/20/2024. Click here for QQQT Standardized Performance.

    Distributions from the ETFs include the following estimated return of capital per the 9/5/2024 19-a1 Notice: Defiance Nasdaq 100 Enhanced Options & 0DTE Income ETF, ticker QQQY 59.83%; Defiance S&P 500 Enhanced Options & 0DTE Income ETF, ticker WDTE 48.27%; Defiance R2000 Enhanced Options & 0DTE Income ETF, ticker IWMY 77.80%; Defiance S&P 500 Income Target ETF, ticker SPYT 87.66%; Defiance Oil Enhanced Options Income ETF, ticker USOY 91.06%; Defiance Nasdaq 100 Income Target ETF, ticker QQQT 100.00%

    Defiance Shifts to Weekly Distributions and Name Changes for the 0DTE Income ETF Suite, effective Sept 26th, 2024. Also effective Sept 26th is JEPY ticker change to WDTE. Read more here.

    The Gross Expense Ratio for QQQT is 1.05%, QQQY, WDTE, IWMY, and USOY is 0.99%, and SPYT is 0.94%.

    Click here for the QQQY Prospectus.
    Click here for the WDTE Prospectus.
    Click here for the IWMY Prospectus.
    Click here for the SPYT Prospectus.
    Click here for the USOY Prospectus.
    Click here for the QQQT Prospectus.

    * The Distribution Rate is the estimated payout an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by multiplying an ETF’s Distribution per Share by twelve (12), and dividing the resulting amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions are not guaranteed.

    ** The Distribution Rate and 30-Day SEC Yield is not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from month to month and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant. The distribution may include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease a fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These distribution rates caused by unusually favorable market conditions may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future. Additional fund risks can be found below.

    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call 833.333.9383. Read the prospectus or summary prospectus carefully before investing.

    IMPORTANT RISK INFORMATION

    Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

    QQQY and QQQT Index Overview: The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization. This makes it a large-cap index, meaning its constituents have a high market value, often in the billions of dollars. The Index includes companies from various industries but is heavily weighted towards the technology sector. This reflects the Nasdaq’s historic strength as a listing venue for tech companies. Other sectors represented include consumer discretionary, health care, communication services, and industrials, among others.

    WDTE & SPYT Index Overview: The S&P 500 Index is a widely recognized benchmark index that tracks the performance of 500 of the largest U.S.-based companies listed on the New York Stock Exchange or Nasdaq. These companies represent approximately 80% of the total U.S. equities market by capitalization, making it a large-cap index.

    IWMY Index Overview: The Russell 2000 Index is a widely recognized benchmark index that tracks the performance of approximately 2000 small-cap companies in the United States. These are the smallest companies listed in the Russell 3000 Index, representing about 10% of that index’s total market capitalization.

    QQQY Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, the Sub-Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization. This makes it a large-cap index, meaning its constituents have a high market value, often in the billions of dollars.

    WDTE Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, the Sub-Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index.

    ​IWMY Indirect Investment Risk: The Index is not affiliated with the Trust, the Fund, the Adviser, the Sub-Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index.

    An Investment in the Fund is not an investment in the Index, nor is the Fund an investment in a traditional passively managed index fund.

    Index Trading Risk. The trading price of the Index may be highly volatile and could continue to be subject to wide fluctuations in response to various factors. The stock market in general has experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of companies.

    S&P 500 Index Risks: The Index, which includes a broad swath of large U.S. companies, is primarily exposed to overall economic and market conditions. Recession, inflation, and changes in interest rates can significantly impact the index’s performance. Furthermore, despite its diverse representation, a downturn in a major sector such as technology or financials could notably affect the index. Geopolitical risks and unexpected global events, like pandemics, can introduce volatility and uncertainty.

    The Nasdaq 100 Index Risks: The Index’s major risks stem from its high concentration in the technology sector and significant exposure to high-growth, high valuation companies. A downturn in the tech industry, whether from regulatory changes, shifts in technology, or competitive pressures, can greatly impact the index. It’s also vulnerable to geopolitical risks due to many constituent companies having substantial international operations. Since many of these tech companies often trade at high valuations, a shift in investor sentiment could lead to significant price declines.

    The Russell 2000 Index Risks: The Index, which includes a broad swath of large U.S. companies, is primarily exposed to overall economic and market conditions. Recession, inflation, and changes in interest rates can significantly impact the index’s performance. Furthermore, despite its diverse representation, a downturn in a major sector such as technology or financials could notably affect the index. Geopolitical risks and unexpected global events, like pandemics, can introduce volatility and uncertainty.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of in-the-money put option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the Index over the Call Period (typically, one day, but may range up to one week). This means that if the Index experiences an increase in value above the strike price of the sold put options during a Call Period, the Fund will likely not experience that increase to the same extent and may significantly underperform the Index over the Call Period. Additionally, because the Fund is limited in the degree to which it will participate in increases in value experienced by the Index over each Call Period, but has full exposure to any decreases in value experienced by the Index over the Call Period, the NAV of the Fund may decrease over any given time period.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current monthly income. There is no assurance that the Fund will make a distribution in any given month. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil. This risks greater for the Fund as it will hold options contracts on a single security, and not a broader range of options contracts.

    Fixed Income Securities Risk: The prices of fixed income securities respond to economic developments, particularly interest rate changes, as well as to changes in an issuer’s credit rating or market perceptions about the creditworthiness of an issuer. Generally fixed income securities decrease in value if interest rates rise and increase in value if interest rates fall, and longer-term and lower rated securities are more volatile than shorter- term and higher rated securities.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”).

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments, LLC (“Tidal” or the “Adviser”). The Fund Administrator is Tidal ETF Services LLC. The investment sub-adviser is ZEGA Financial, LLC (“ZEGA” or the “Sub-Adviser”).

    Defiance ETFs are distributed by Foreside Fund Services, LLC.

    David Hanono
    Defiance ETFs
    +1 833-333-9383

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e034b5c1-e346-4c0c-ab39-ee49a8ded830

    The MIL Network –

  • MIL-OSI Translation: 28/09/2024 The Council of Ministers adopted changes to the draft budget act for 2025

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    The exceptional situation related to the flood has led to the need to introduce changes to the draft budget act for 2025. Helping those affected by the flood is one of the government’s priorities and has been reflected in the new draft budget. We have increased funds for counteracting and removing the effects of natural disasters to the amount of PLN 3.191 million. The budget for 2025 provides funds to support citizens, security and economic development of Poland. On September 28, 2024, the Council of Ministers adopted changes to the draft budget act for 2025. The new draft assumes that state budget revenues will increase by PLN 230 million compared to the original draft, to PLN 632.848.2 billion. The total amount of state budget expenditure will remain unchanged, at PLN 921.618.2 billion. The deficit of PLN 230 million in the initial project will amount to PLN 288 million. Higher budget revenuesThe changes in the budget revenue plan for 2025 result primarily from the fact that the new project takes into account the effects of the regulation of the Minister of Finance of September 19, 2024, which extended the advance payments for certain taxes to 2025 for entities affected by floods. The amount of planned budget revenues is also affected by changes in the draft act amending the excise duty act and certain other acts. Budget expenditureOn the expenditure side, transfers have been made that allow for an increase in the state budget funds for counteracting and removing the effects of natural disasters for 2025. The earmarked reserve in item 4 has been increased from PLN 997 million (including PLN 786,176 million for the implementation of the “Flood Protection Project in the Odra and Vistula River Basins” and the “Project for Building Resilience to Climate Change in Water”) to the amount of PLN 3.191 million (including PLN 786.176 million for flood protection projects), i.e. by PLN 2.194 million. For this purpose, the reserve plan has been reduced where possible. Among other things, the reserve for State Treasury liabilities has been reduced (by PLN 400 million) and the general reserve (by PLN 279 million). The general reserve is used to respond to emergency situations that require immediate financial support. Support from this reserve is intended in particular for unforeseen events, the effects of which could not be planned in the mode of preparing the draft budget for the following year. The current flood situation authorizes the transfer of funds from the general reserve already at the planning stage to the flood reserve. As part of the changes to the draft budget act for 2025, the Minister of Justice reduced the expenses of common courts by PLN 321 million, postponing, among other things, the implementation of some construction and IT investments to the next budget year. The Minister of Finance – in agreement with BGK – reduced the demand for state budget funds for possible payments from BGK guarantee programs by PLN 211 million. The Minister of Finance also updated the demand for budget funds in special-purpose reserves in connection with new information that influenced the revision of forecasts. This concerns, among others, tasks currently financed from the Aid Fund, the financial projection of which ends in September 2025. The current implementation of some tasks indicates that the funds will be sufficient until the end of the year. This freed up the needs for the following months. The new draft budget act for 2025 also included auto-corrections of the budgets of non-governmental entities adjusting the increase in salaries to the level of 5% and in connection with the announcement of the average salary in the second quarter of 2024 by the President of the Central Statistical Office, on which the remuneration of judges is dependent. Increased expenditure on housing and science There was a further increase in expenditure on housing – item 39 of the special-purpose reserves for “Supplementation of expenditure on tasks in the area of ​​housing” was increased by PLN 420.2 million to supplement the non-repayable support for social and municipal housing in connection with the planned change in the regulations on financial support for certain housing projects. The financing of the tasks of the National Science Centre was increased by PLN 50 million. The Centre is one of the most important institutions in the country financing basic research (grants). Investing in scientific research is crucial for the development of society, improving the quality of life and strengthening Poland’s position in the international arena.

    MILES AXIS

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

    MIL Translation OSI

  • MIL-OSI Translation: 28/09/2024 The Council of Ministers adopted the Public Finance Sector Debt Management Strategy for 2025–2028, submitted by the Minister of Finance

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    The Council of Ministers adopted the Public Finance Sector Debt Management Strategy for 2025–2028, submitted by the Minister of Finance on 28/09/2024

    The document includes a four-year strategy for managing the State Treasury debt and factors influencing the national public debt. The strategy is prepared annually. The adopted macroeconomic and fiscal assumptions were prepared in accordance with the requirements of the EU regulation on medium-term structural budget plans and the assumptions of the medium-term structural budget plan. Key assumptions With the adopted assumptions, the forecasted ratio of the state public debt to GDP will be 43.3% in 2024 and 47.1% in 2025, then it will increase to 48.6% in 2027, and in the last year of the forecast it will decrease to 48.3%. Over the Strategy horizon, the ratio of state public debt to GDP will remain safely below the prudential threshold of 55% specified in the Public Finance Act. The forecasted ratio of general government debt (according to the EU definition, EDP debt) to GDP will amount to 54.6% in 2024 and 58.4% in 2025, then increase to 61.3% in 2027, and in 2028 it will decrease to 61.2%. The EDP debt to GDP reference value of 60% will be exceeded in 2026. Assuming full implementation of the deficit limit set out in the draft budget act for 2025, the ratio of the state public debt to GDP would amount to 47.9% in 2025, and the general government debt to GDP would amount to 59.8% of GDP. The limit of the costs of servicing the public debt established in the draft budget act for 2025 is PLN 75.5 billion, i.e. 1.9% of GDP. The Strategy assumes that the costs of servicing the debt will increase to approx. 2.3% of GDP con fijación 2027-2028. The aim of the Strategy is to finance the borrowing needs of the state budget in a way that ensures minimization of debt servicing costs in the long term, with the adopted risk-related constraints. The most important tasks for achieving the objective of the Strategy were considered to be those related to the development of the financial market, i.e. ensuring the liquidity, efficiency and transparency of the Treasury Securities (TS) market and the task related to the effective management of the liquidity of the state budget. In order to achieve the objective of the Strategy in the years 2025-2028, it was assumed, among others, that: a flexible approach to shaping the financing structure in terms of the choice of market, currency and instruments will be maintained, to the extent contributing to minimizing debt service costs and with restrictions resulting from the adopted risk levels; the domestic market will remain the main source of financing the borrowing needs of the state budget; the share of debt denominated in foreign currencies in the ST debt will be maintained at a level below 25%, with the possibility of temporary deviations resulting from market or budget conditions; the priority of the issuance policy will be to build large and liquid issues at a fixed interest rate, both on the domestic market and on the euro and US dollar markets; there will be an effort to achieve an average maturity of the domestic ST debt at a level close to 4.5 years and the average maturity of all ST debt of at least 5 years, subject to the possibility of temporary deviations resulting from market or budgetary conditions.

    MILES AXIS

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

    MIL Translation OSI

  • MIL-OSI Translation: 28/09/2024 Varsovia Informe on flood-related activities and changes in the budget

    MIL ASI Translation. Region: Polish/Europe –

    Fuente: Gobierno de Polonia en poleco.

    The Prime Minister called a special government meeting on Saturday to adopt changes to the draft budget for 2025 and discuss actions related to removing the effects of the flood. The heads of the State Fire Service, Police and General Staff were also invited to participate – the first part of the meeting was a staff briefing. In the second part, the Council of Ministers adopted changes to the draft budget for 2025, which will provide funds for the reconstruction of flooded areas. Coordinated actions and emergency aid

    The actions of the government and services in connection with the flood situation include record involvement of firefighters and police officers as well as cooperation with the army, including the establishment of a joint helicopter center.

    As for the reconstruction, the assessment is ongoing. Of course, at this point the most important thing is to remove the immediate damage, pump out the water, and pay benefits, but from what the governors told us yesterday, it is progressing very dynamically.

    – The Minister said of Internal Affairs and Administration. Within two weeks, benefits were given to almost 37 thousand families, and over 622 million zlotys were allocated to remove the effects of the flood. The Minister assured that the actions are coordinated and the threat is under control, thanks to constant monitoring of the situation and ongoing cooperation between the services and local and central authorities.

    Nearly 200 reasons to be happy

    In the face of dramatic weather conditions, aviation played a key role in rescue operations, saving 199 people who were in immediate danger. Thanks to determined pilots and specialized rescue units, almost 5,000 people could be evacuated from flood-prone areas. The pair testifies to the enormous strength and effectiveness of the services that have been and continue to provide help in the most difficult moments.

    It is good that the public has heard these words about the direct effect of the work of, for example, our pilots in rescue operations using helicopters – 199 people are alive only because these determined, brave people were on duty all the time and ready to help.

    -Prime Minister Donald Tusk said. The situation in West Pomerania remains serious, water levels exceed alarm levels. We must remain vigilant and cautious, because the flood wave not only poses a challenge to the embankments, but also requires additional precautions and coordination of actions. Due to heavy rainfall, Podkarpacie now requires special attention, also taking into account the terrain conditions. Local events may have serious consequences there, which is why it is necessary for the services to focus on monitoring the situation.

    The government is mobilizing forces for reconstruction after the flood

    Minister Marcin Kierwiński, the government’s plenipotentiary for the reconstruction of flood-affected areas, shared the latest information on the situation after the disaster. The process of estimating the damage is ongoing, and even at this stage the numbers are shocking. It is already known that the flood destroyed over 17 thousand residential buildings and almost 8.5 thousand economic facilities. The list also includes about 1150 public buildings, including 141 schools and 41 bridges. In the flood-affected areas, the governors, supported by the army, are involved in cleaning up and rebuilding key infrastructure. This refers not only to roads and bridges, but also to ensuring access to electricity, water and unclogging the sewage system.

    In the face of the devastation caused by the flood, the government is taking urgent action to restore normalcy to residents. Our priority is not only to clean up, but also to rebuild key infrastructure that is essential for the life and functioning of local communities

    – said the government’s plenipotentiary for the reconstruction of flood-affected areas. In the face of such enormous challenges, the government plans to establish priorities in order to restore normalcy to residents as soon as possible. El Ministro M. Kierwiński promised to keep the situation and progress in reconstruction up to date. Immediately after his speech, he went to the flood-affected areas.

    Military actions in response to flood

    The Polish Armed Forces have been actively responding to the flood since the beginning. 13,646 operational soldiers and 3,261 Territorial Defense soldiers are participating in the action. The army is involved in rescue operations and support for local communities affected by the disaster.

    The army carries out all the tasks we set from the very beginning, from receiving the first information and putting it on alert. Operational troops bear the burden of flood damage repair operations

    – said the Minister of National Defense. As part of Operation Feniks, the army is also involved in clearing communication, disinfecting apartments and delivering meals. El primer minister Kosiniak-Kamysz drew attention to the need for cooperation with other institutions and the need to monitor flooded areas.

    False alarms and their consequences

    Since the beginning of the flood crisis, the government has been working with the police and prosecutors to ensure the safety of residents of flood-affected areas. The Prime Minister noted the seriousness of any crimes, such as false alarms, which can divert the attention of services from real threats.

    It’s not much different from false bomb threats. These are things that mean that somewhere else someone could be in real danger, because the police, fire department, or the military will follow the false signal.

    – emphasized the head of government. Various conspiracy theories and disinformation activities also contribute to the damage and undermine trust in the state. Therefore, Donald Tusk thanked the police and prosecutors for their quick and effective actions, which accelerate the court proceedings against criminals.

    Help for households and entrepreneurs

    The government is introducing various forms of support for entrepreneurs and households affected by the flood. Among the available funds is emergency aid in the form of a flood allowance, which amounts to PLN 8,000 for households and an additional PLN 2,000 for people in a particularly difficult situation. “Emergency aid in the form of a flood allowance has already reached approximately 40,000 families in the Lower Silesian Voivodeship. We are monitoring this process to ensure that support is provided efficiently and in accordance with simplified procedures,” said the Minister of Family, Labor and Social Policy. In a special so-called flood act, the government has also introduced one-off aid in the amount of PLN 1,000 – it is to alleviate the effects of the need to dry flats and houses. Renovation aid is also planned, which is intended to support people who have damaged buildings, including those used for business activities. Owners of small businesses, such as hairdressing salons, can also apply for aid. Detailed information can be found on the website.

    Changes to the budget for 2025 – financial support for reconstruction after flooding

    The Council of Ministers has adopted changes to the draft budget act for 2025, which are a response to the exceptional flood situation in the country. The government gives priority to helping the victims, which is reflected, among others, in the increase in funds for counteracting the effects of natural disasters to the amount of PLN 3 million 191 million. The budget amendment proposal also assumes an increase in spending on housing by PLN 420.2 million and on research by PLN 50 million, which emphasizes the government’s commitment to the social and economic development of the country. Detailed information on the draft amendment to the budget act for 2025. Additionally, the government recommended to the Sejm to reduce the budgets of entities such as the Supreme Court, the National Broadcasting Council, the Institute of National Remembrance and the Chancellery of the President by a total of PLN 200 million.

    We are analysing that the budgets of entities such as the Supreme Court, the National Broadcasting Council, the Institute of National Remembrance and the Chancellery of the President could be reduced by an amount of no less than PLN 200 million, and this could be allocated to helping people affected by the flooding.

    – The Minister of Finance reported. In the budget for 2024, the government has secured PLN 2 billion for now without the need to amend it. Analyses regarding the need and possibilities of increasing these funds are ongoing.

    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 Submissions: Australia – CBA cautions small business against “too good to be true” investment opportunities

    Source: Commonwealth Bank of Australia (CBA)

    With more than half of the money Aussie small businesses lose to scams going to fake investments, CBA Executive General Manager Rebecca Warren provides top tips on how to spot a fake investment opportunity.

    Nearly 90 per cent of all scams reported by CommBank’s business customers in FY24 came from small business, with more than half of their losses going to investment scams, according to new data released by CommBank.

    The data, which looks at the number and types of scams reported by CommBank small businesses in the last financial year shows investment scams, phishing, and business email compromise continue to be the most prevalent scams targeting Aussie small business.

    Investment scams offer fake money-making opportunities, often with the promise of unrealistically high or above-market returns and seemingly coming from legitimate sources.

    Business owners and leaders may be at higher risk of being targeted for investment scams because they’re more likely to have disposable funds to invest.

    CommBank Executive General Manager Small Business Banking Rebecca Warren said, while it is encouraging to see CBA customer scam loss decreasing overall, small businesses remain a prime target and the impact could be severe.

    “If a business owner or leader falls victim to an investment scam, it’s not just the business that could be compromised, but also the jobs of the people who work there”.

    “We can see through our data that small businesses lose around $30,000 on average to investment scams, which can have a devastating impact, both financially and emotionally. When they make an investment into what they think is a term deposit with a great interest rate, they tend to put in most of the money they have available, to maximise their returns.

    “We know running a small business is tough, and our priority is to help protect our customers from scams. Our focus is on early detection and prevention of scams through fraud prevention and monitoring activity, industry-leading features and education,” Ms Warren said.

    CommBank’s NameCheck feature prompts customers if the account details on a first-time payment don’t look right based on available payment information1. CallerCheck allows customers to verify whether a caller claiming to be from CommBank is legitimate, by triggering a security message in the CommBank app. CommBank may also use CustomerCheck to identify our customers in branch or over the phone by sending a message to the CommBank app.

    CBA has invested more than $800 million to help protect customers against fraud, scams, financial and cybercrime, but as Ms Warren points out, scams are least effective when people stop and check, and then reject.

    “While the Bank’s technology is designed to help detect and prevent fraudulent activities, it is crucial for customers to take proactive steps to protect themselves. It is imperative that they know what to look out for.”

    Ms Warren shares top tips for small business owners on protecting their business from scams.

    Know what to look out for

    Be suspicious of investment opportunities that sound too good to be true, because they probably are, according to Ms Warren. Scammers tend to contact prospective victims via phone, social media or sponsored ads.

    “Investment opportunities that offer high returns with little or no risk are likely fake and coming from a scammer. Be wary of any unsolicited online contact, including people reaching out via social media, sponsored ads or any opportunities endorsed by public figures and popular TV programs,” Ms Warren added.

    Scammers also use AI technology to impersonate well-known public figures who may appear to endorse a particular investment opportunity, and these may be used to give a false sense of legitimacy.

    Customers are advised to sense-check investment opportunities with friends and family before committing to anything, as they may help identify warning signs.

    “You can also research and check reviews by searching the investment name with the word ‘scam’ and consult ASIC’s list of companies you should not deal with by using the ASIC search portal,” Ms Warren said.

    Customers can also understand how to check if a company or a person is licensed on MoneySmart.

    Train and educate your staff

    Making sure business owners and their staff are on top of the latest scam and cyber threats is imperative.

    “When it comes to any scam, people are the first and very important line of defence, so it’s important to ensure you encourage staff to question and escalate payment requests,” Ms Warren said.

    It’s important that small business owners and staff have basic cyber hygiene such as strong passwords, multi-factor authentication and awareness of phishing scams.

    The Cyber Wardens program, which was created in partnership between CBA, Telstra and the Council of Small Business Organisations Australia (COSBOA), is specifically designed to help SMEs respond to the risks and support them to build an effective culture of cyber security.

    Put the right processes in place

    According to Ms Warren, processes play an important role in helping reduce the impact of scams.

    “You should check with the beneficiary the details of any large payments in person or by calling a verified number and especially if the beneficiary is requesting to amend their banking details. No single person should be responsible for making payments, so adopt strict separation of duties, using multiple authorities to make and approve payments but also to change beneficiary details,” she said.

    Businesses are also advised to restrict how much information they reveal about their suppliers and staff on public websites and social media.

    Take advantage of technology

    While scammers use increasingly sophisticated tactics to target unsuspecting small businesses, technology can also play an important role in preventing attacks.

    Leveraging technology does not have to be complex but it can be very effective in preventing scams and cyber-attacks, according to Ms Warren.

    “Promptly installing software updates, enabling software auto-updates and installing a reputable antivirus program can help reduce the impact of malicious software designed to tamper with online banking payments,” she added.

    1 For CommBiz transactions, NameCheck is currently available for payments to a first-time payee using direct credit, priority payment, fast payment and bulk payments for up to 50 payees only.

    MIL OSI – Submitted News –

  • MIL-OSI Australia: Operation Eclipse targets crime related to illicit tobacco trade

    Source: South Australia Police

    Police are conducting an operation to investigate serious criminal offending associated with illicit tobacco in South Australia.

    Operation Eclipse has been focussed for some time and is investigating offences including arson, assaults and money laundering linked to the illegal activity that was first identified by police in May.

    Detective Superintendent Shane Addison, Officer in Charge, Serious and Organised Crime Branch said police have been working proactively to identify the criminal networks involved in the trade of the illicit tobacco and working with other agencies to disrupt their criminal activities.

    “Operation Eclipse has established strong working relationships with Victoria Police and other law enforcement agencies and we are sharing intelligence,’’ he said.

    “We will not tolerate criminal behaviour that poses a risk to the community and have already made several arrests as part of the operation.’’
    Police have so far linked seven arson attacks in the metropolitan area to the illicit tobacco industry. They have involved vehicles, restaurants and tobacco retailers. Numerous other incidents including assaults and standovers, have also been identified.

    Serious and Organised Crime Branch detectives conducting Operation Eclipse have also identified another 15 persons of interest in the activity.

    Besides the two arrests made so far for money laundering and serious criminal trespass, detectives have seized thousands of dollars in cash.

    Operation Eclipse is working in partnership with CBS Tobacco Investigations, who are responsible for the regulation of tobacco in SA.

    The seven arson incidents include:

    • 19 July – car fire at Glenelg North
    • 30 August – restaurant fire at Henley Beach Road, Torrensville
    • 7 September – restaurant fire Main North Road, Enfield
    • 9 September – vehicle fire Walkley Heights
    • 11 September – vehicle fire Mawson Lakes
    • 14 September – business broken into and arson attack Port Road, Hindmarsh
    • 30 September – business at Henley Beach Road, Brooklyn Park

    MIL OSI News –

  • MIL-OSI Economics: AIIB Commits USD100 Million for Climate Transition in Asia

    Source: Asia Infrastructure Investment Bank

    The Asian Infrastructure Investment Bank (AIIB) has signed a USD100 million commitment toward climate transition investments in emerging Asia. Of the total commitment, USD75 million is committed to the Actis Asia Climate Transition Fund (the Fund), managed by Actis GP LLP, and up to USD25 million co-investment sleeve alongside the Fund.

    This marks AIIB’s first climate transition-themed fund dedicated to emerging Asia and highlights the Bank’s commitment to sustainable development and climate change mitigation in the region.

    “Our commitment to the Actis Asia Climate Transition Fund underscores AIIB’s dedication to financing sustainable infrastructure and fostering low-carbon solutions in Asia,” said Rajat Misra, AIIB Acting Vice President, Investment Clients, Region 1 & Financial Institutions and Funds, Global. “This partnership aligns with our climate strategy and sets a precedent for future investments aimed at achieving net-zero emissions while promoting gender equality in the energy sector.”

    The Fund aims to invest in renewable energy infrastructure, energy solutions and sustainable transportation which lean toward emerging Asia.

    Project Highlights:

    • Strong Sustainability Credentials—The Actis Asia Climate Transition strategy was established to meet investor demand for an SFDR Article 9 investment strategy which is focused on net zero and decarbonization assets aimed at supporting climate solutions including energy efficiency, smart grids, district energy and sustainable transportation. AIIB will gain access to Actis’ proprietary sustainability toolkit for direct investments, including enhanced governance framework, processes and metrics that will persist beyond exit.
    • Demonstration Effect on Gender Focus—The Project marks AIIB’s first equity position in an energy transition infrastructure-focused fund which is committed to addressing gender gaps in the energy sector, enabling learning opportunities for development of gender considerations in future investments.
    • Strategic Partnership that Drives Environmental and Social Impact—As an emerging market-focused sustainable infrastructure investor, the Fund will be Actis’ first climate-transition strategy. The collaboration highlights AIIB’s proactive approach to forming strategic partnerships and demonstrates AIIB’s dedication to financing sustainable infrastructure and fostering low-carbon solutions in Asia.

    About AIIB

    The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond—infrastructure with sustainability at its core. We began operations in Beijing in 2016 and have since grown to 110 approved members worldwide. We are capitalized at USD100 billion and AAA-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

    MIL OSI Economics –

  • MIL-OSI: Sampo plc’s share buybacks 27 September 2024

    Source: GlobeNewswire (MIL-OSI)

    Sampo plc, stock exchange release, 30 September 2024 at 8:30 am EEST

    Sampo plc’s share buybacks 27 September 2024

    On 27 September 2024, Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI4000552500) as follows:                

    Sampo plc’s share buybacks Aggregated daily volume (in number of shares) Daily weighted average price of the purchased shares* Market (MIC Code)
      3,062 42.16 AQEU        
      39,548 42.14 CEUX
      422 42.03 TQEX
      45,814 42.12 XHEL
    TOTAL 88,846 42.13  

    *rounded to two decimals                

    On 17 June 2024, Sampo announced a share buyback programme of up to a maximum of EUR 400 million in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. On 16 September 2024, the Board of Directors of Sampo plc resolved to increase the share buyback programme to EUR 475 million. The programme, which started on 18 June 2024, is based on the authorisation granted by Sampo’s Annual General Meeting on 25 April 2024.

    After the disclosed transactions, the company owns in total 7,582,336 Sampo A shares representing 1.38 per cent of the total number of shares in Sampo plc, taking the issuance of shares on 16 September 2024 into account.

    Details of each transaction are included as an appendix of this announcement.

    On behalf of Sampo plc,
    Morgan Stanley

    For further information, please contact:

    Sami Taipalus
    Head of Investor Relations
    tel. +358 10 516 0030

    Distribution:
    Nasdaq Helsinki
    Nasdaq Stockholm
    Nasdaq Copenhagen
    London Stock Exchange
    The principal media
    FIN-FSA
    DEN-FSA
    http://www.sampo.com

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    The MIL Network –

  • MIL-OSI: MSTX, The First Leveraged MicroStrategy ETF in the U.S. Surpasses $400 Million

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Sept. 30, 2024 (GLOBE NEWSWIRE) — Defiance ETFs, a leading provider of thematic and leverage-focused exchange-traded funds, is thrilled to announce that its MSTX ETF (Daily Target 1.75X Long MSTR ETF) has surpassed $400 million in assets under management (AUM). This milestone underscores the strong investor demand and confidence in the product’s innovative approach to offering amplified exposure to MicroStrategy Inc. (MSTR), a company known for its substantial Bitcoin holdings and cutting-edge data analytics solutions.

    Key Highlights:

    • Unprecedented Growth: The MSTX ETF’s rapid ascent to $400 million in AUM reflects investors’ growing interest in leveraged strategies and their desire to capitalize on the high volatility and significant movements in MicroStrategy’s stock.
    • Innovative Investment Strategy: MSTX offers 1.75x the daily performance of MicroStrategy’s stock, providing sophisticated investors with a powerful tool to enhance their exposure to the company’s dynamic market positioning. The ETF is designed for investors with a strong appetite for risk who seek the potential for amplified returns over short-term holding periods.
    • Market Demand: The strong reception of the MSTX ETF signals confidence in Defiance ETFs’ ability to meet market demand for targeted leverage exposure, particularly in the tech and cryptocurrency sectors. MicroStrategy’s strategic focus on Bitcoin has made it a popular choice among investors looking to gain exposure to the cryptocurrency market.
    • Strategic Timing: The launch of MSTX comes at a time when interest in both MicroStrategy and Bitcoin is surging, driven by the increasing institutional adoption of digital assets and the evolving landscape of corporate strategies centered around blockchain technology.

    “We are excited to see such strong early interest in the MSTX ETF, which validates our belief in the demand for specialized leveraged products that offer precise exposure to high-growth sectors,” said Sylvia Jablonski, CEO of Defiance ETFs. “The rapid growth of MSTX is a testament to our team’s ability to deliver innovative investment solutions that resonate with today’s investors.”

    About Defiance ETFs:
    Defiance ETFs is a leader in leverage-focused exchange-traded funds, providing innovative solutions designed for tactical traders and investors seeking amplified exposure to individual companies.

    For more information about the MSTX ETF or to explore Defiance ETFs’ full lineup of products, please visit defianceetfs.com.

    Media Contact:
    David Hanono
    Defiance ETFs
    Tel: 833.333.9383

    The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund pursues a daily leveraged investment objective, which means that the Fund is riskier than alternatives that do not use leverage because the Fund magnifies the performance of its Underlying Security. The Fund is not suitable for all investors. The Fund is designed to be utilized only by sophisticated investors, such as traders and active investors employing dynamic strategies. Investors who do not understand the Funds, or do not intend to actively manage their funds and monitor their investments should not buy shares of the Funds.

    About Defiance ETFs

    Founded in 2018, Defiance stands as a leading ETF issuer dedicated to income and thematic investing. Defiance also pioneers leveraged ETFs designed for traders seeking tactical opportunities.

    Our suite of first-mover leveraged & thematic ETFs empowers investors to express targeted views on disruptive innovations, including artificial intelligence, machine learning, and quantum computing, while our actively managed options ETFs are designed to seek current income.

    Important Disclosures

    The Funds’ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company. Please read carefully before investing. A hard copy of the prospectuses can be requested by calling 833.333.9383.

    Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments, LLC (“Tidal” or the “Adviser”).

    Investing involves risk. Principal loss is possible.

    There is no guarantee that the Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment.

    Underlying Security Risk. The underlying security is subject to many risks that can negatively impact the Fund.

    Leverage Risk. Leverage may increase the risk of loss and cause fluctuations in the market value of the Fund’s portfolio to have disproportionately large effects or cause the NAV of the Fund generally to decline faster than it would otherwise.

    Derivatives Risk. Derivatives may be more sensitive to changes in market conditions and may amplify risks.

    Effects of Compounding and Market Volatility Risk. The Fund has a daily leveraged investment objective and the Fund’s performance for periods greater than a trading day will be the result of each day’s returns compounded over the period, which is very likely to differ from the Fund performance, before fees and expenses.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security, may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    MSTR Performance Risk. MSTR may fail to meet its publicly announced guidelines or other expectations about its business, which could cause the price of MSTR to decline.

    Bitcoin Risk. While the Fund will not directly invest in digital assets, it will be subject to the risks associated with Bitcoin by virtue of its investments in options contracts that reference MSTR.

    New Fund Risk. As of the date of this prospectus, the Fund has no operating history and currently has fewer assets than larger funds. Like other new funds, large inflows and outflows may impact the Fund’s market exposure for limited periods of time.

    New Fund Risk. As of the date of this prospectus, the Fund has no operating history and currently has fewer assets than larger funds. Like other new funds, large inflows and outflows may impact the Fund’s market exposure for limited periods of time.

    Brokerage Commissions may be charged on trades.

    MSTX is distributed by Foreside Fund Services, LLC.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/87922bbb-50cf-447b-a7be-657fcf4cde83

    The MIL Network –

  • MIL-OSI: NNIT A/S: ATP choses NNIT as new supplier of business-critical SAP system

    Source: GlobeNewswire (MIL-OSI)

    As referred to in the Company Announcement 05/2024, Interim Financial Report Q2 2024 on August 26, NNIT was close to signing a large important strategic contract. NNIT has entered into a contract with ATP (Udbetaling Danmark) for the delivery of their critical SAP Debtor system. Udbetaling Danmark is the authority responsible for the collection, disbursement, and control of a number of public benefits. – e.g., state pension and housing benefits.

    The contract will initially run for six years with the possibility to extend twice for a two-year period. The contract was tendered by ATP at an estimated value of DKK 240 million incl. options, ad hoc solutions made to order and infrastructure operations to be delivered by a subcontractor.

    Kasper Søndergaard Andersen, Senior Vice President of Region Denmark, says “We are exceedingly pleased to have won the project for the delivery of ATP’s Debtor system. Public digitalization is a strategic focus area in NNIT, and we are energized by the significant task of ensuring the continued welfare in Denmark. With this Debtor delivery, we are building on our long-standing relationship with ATP, and we will also have the opportunity to bring our recently fortified SAP business to the table and begin the substantial task of modernizing SAP”.

    The contract has no implications for NNIT’s financial guidance for the full-year of 2024.

    For more information, please contact:

    Investor Relations
    Carsten Ringius
    EVP & CFO
    Tel: +45 3077 8888
    carr@nnit.com

    Media Relations
    Tina Joanne Hindsbo
    Media Relations Manager
    Tel: +45 3077 9578
    tnjh@nnit.com

    ABOUT NNIT

    NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and private sectors in Denmark.

    We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high.

    We advise on and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.

    We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies, but always driven by business needs rather than technology.

    NNIT consists of group company NNIT A/S and subsidiaries SCALES, Excellis Health Solutions and SL Controls. Together, these companies employ more than 1,700 people in Europe, Asia and USA. Read more at http://www.nnit.com.

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    The MIL Network –