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Category: Finance

  • MIL-OSI Asia-Pac: Union Minister, Shri Kiren Rijiju highlights key achievements of Ministry of Minority Affairs in the first 100 days of new Government

    Source: Government of India (2)

    Posted On: 25 SEP 2024 3:52PM by PIB Delhi

    Union Minister of Minority Affairs and Parliamentary  Affairs, Shri Kiren Rijiju briefed media about the significant achievements of the Ministries  of Minority Affairs and Parliamentary Affairs at a press conference held  today  in  CGO Complex,New Delhi  . Shri George Kurian, Minister of State for Minority Affairs was also present on the occasion .

    Shri Rijiju highlighted the following key accomplishments of the Ministry of Minority Affairs during the first 100 days of the Government :

    Lok Samvardhan Parv:

    Union Minister for Minority Affairs, inaugurated the ‘Lok Samvardhan Parv’ which was organized as part of the 100 days’ programme by NMDFC, of the Ministry of Minority Affairs. The Parv was organised to showcase the schemes, programmes and achievements of the Ministry and to highlight the activities undertaken in convergence with partner organisations and success stories under its various schemes. A Credit Plan of National Minorities Development & Finance Corporation (NMDFC) for extending credit of over Rs.1000 crores to over 2.5 lakhs beneficiaries during 2024-25 was also released by the  Minister.

    Signing of MOUs between National Minorities Development & Finance Corporation (NMDFC) and three Banks and state Skill Development Missions of three States:

    MOUs between NMDFC and Indian Bank, Union Bank of India and Punjab Gramin Bank were signed for implementation of various schemes of NMDFC through these banks. This would facilitate in extending loans in the un represented areas.

    Announcement of package for Laddakh and interaction with beneficiaries of NMDFC:

    • In the Union Territories of Jammu & Kashmir and Ladakh, Minister for Minority Affairs, participated in a Beneficiary Interaction Programme held in Kargil on 14th July, 2024. Organized by the Jammu & Kashmir and Ladakh Finance Corporation (JKLFC) in collaboration with the National Minorities Development and Finance Corporation (NMDFC).
    • The programme highlighted a strong commitment to fostering socio-economic development of Minority communities through financial assistance and support.
    • The sanction of Rs. 10 crore was announced to the Sindhu Infrastructure Development Corporation (SIDCO) and Rs. 21.00 crores to JKLFC for the financial year 2024-25.

    Launch of PM VIKAS:

    “Pradhan Mantri Virasat Ka Samvardhan” (PM VIKAS) is an integrated scheme of the Ministry of Minority Affairs converging its five erstwhile schemes namely Seekho aur Kamao, USTTAD, Nai Manzil, Nai Roshni, and Hamari Dharohar. The PM VIKAS scheme aims towards socio-economic upliftment of minorities through various initiatives, including:

     

    • Providing skill development training in courses covering both modern and traditional job roles.
    • Organizing capacity-building workshops for artisans.
    • Preserving the Intangible Cultural Heritage (ICH) of minority communities.
    • Promoting minority women’s leadership and entrepreneurship.
    • Educational support to minority youth through National Institute of Open Schooling (NIOS)
    • Addressing infrastructure needs in convergence with the Ministry’s PMJVK scheme.

    Additionally, the scheme will facilitate credit linkages by connecting beneficiaries with loan programs offered by the National Minorities Development & Finance Corporation (NMDFC). Beneficiaries would also be supported for market linkages through EPCH (Export Promotion Council for Handicrafts) to enhance their livelihood.

    Launch of Haj Suvidha App:

    1. A game changer in Haj Management during Haj-2024.
    2. Provides the pilgrims access to training content, accommodation and flight details, baggage information, an emergency helpline (SOS), grievance redressal, feedback, language translation, and miscellaneous information and services related to the pilgrimage and also facilitates better coordination and control of the pilgrims by the Indian administration in KSA.
    3. Has been a great enabler in better grievance redressal and dissemination of information, and also for a more cohesive response mechanism from the administration.
    4. The application process from aspiring pilgrims has also been onboarded onto the App for Haj-2025, thereby taking another important step towards the objective making the App an end to end digital solution for the pilgrims.
    5. A bilateral visit to Saudi Arabia is proposed to improve coordination and cooperation between the authorities in India and Saudi Arabia w.r.t. Haj administration.

     

    Preparation of Operational Manual for conducting of Urs for Durgah Khawaja Saheb, Ajmer:

    Urs of Khawaja Moin ud din Chishti, a complex logistics event, organised and made successful by the close coordination of the Durgah Committee, the District Administration, the various religious functionaries and the general Public.

    Urs provides a major boost to the economy of Ajmer and benefits the Small and Medium businesses and generating income and employment. For the first time, an Operational Manual to codify and standardize the conduct of Urs of Khawaja Moin-ud-din Chishti has been made, to ensure a smooth and satisfactory experience for the countless pilgrims who throng Ajmer during Urs.

    Usage of Digital Technology for facilitating pilgrims in various aspects of Durgah Khawaja Saheb, Ajmer:

    Ministry of Minority Affairs has also developed a DKS Suvidha Mobile App & a Web portal for Durgah Khawaja Saheb.

    This Web Portal and Mobile Application shall allow pilgrims from far flung corners of the Country unable to visit Ajmer to participate in the activities of the Durgah and feel the warmth and blessings of the Khawaja Gharib Nawaz.

    Launch of Jiyo Parsi Web Portal:

    The “Jiyo Parsi Scheme Portal” was launched by  Minister of Minority Affairs on 13th August, 2024.

    The Portal would enable them to apply online, check the status of their application and to receive the financial assistance online through Direct Benefit Transfer (DBT) mode.

    Adopting circuit based approach targeting minorities within minorities:

    MoMA is adopting a circuit-based approach for growth of minorities within minorities especially Parsis, Buddhists, Jains, Sikhs. For the same, the projects have been undertaken and sanctioned for Buddhist community and for Jain, Sikh and Parsi Communities across States/UTs such as Ladakh, Himachal Pradesh, Arunachal Pradesh, Sikkim, Uttarakhand, Delhi, Gujarat, Madhya Pradesh and Maharashtra amounting to Rs.401.37 Crore.

    Aanganwadi to Artificial Intelligence:

    PMJVK has also enhanced its approach in terms of sanctioning of projects. Now the Scheme, apart from civil infrastructure, has also brought digital infrastructure under its purview. As part of this, with continued financial support for Aanganwadi centres, MoMA takes an instrumental initiative under its PMJVK to grant 100% finance for boosting AI through 5G & Cyber Security labs at NIT Jalandhar ensuring trained workforce for digital India.

    Integration with Gati Shakti Portal:

    These 100 days have also been focussed towards strengthening of the existing ecosystem through digitized Scheme processes and evaluation mechanisms. Under PMJVK, to ensure optimum utilisation of funds, MoMA has initiated use of PM GatiShakti portal to include needy areas under the scheme. This will add in ensuring zero overlaping of efforts and identify the areas of implementation.

    The Scheme is also working towards strengthening of on-ground monitoring of infrastructure assets as it has taken a stride in geo-tagging of all its infrastructure units across States/UTs on BHUVAN Portal of ISRO / NRSC in addition to presence of these units on PM GatiShakti portal. In continuation of digitization initiative, new PMJVK web-portal for overall digitised approval processes is also being developed.

    Bhashini technology adaptation for a minority language:

    The Ministry of Minority Affairs has successfully integrated the BHASHINI initiative into its official website, minorityaffairs.gov.in. By incorporating Web Translation of BHASINI platform, the ministry aims to provide multilingual access to its services and information, ensuring that citizens from diverse linguistic backgrounds can easily navigate and engage with government programs. This implementation underscores the government’s commitment to fostering inclusivity and enabling equal access to resources for all communities.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Make in India Celebrates 10 Years: A Decade of Transformational Growth

    Source: Government of India (2)

    Make in India Celebrates 10 Years: A Decade of Transformational Growth

    India’s Manufacturing Revolution Gathers Momentum with Focus on Innovation, Investment, and Self-reliance

    Posted On: 25 SEP 2024 3:52PM by PIB Delhi

    The ‘Make in India’ initiative, launched on 25th September 2014, completes a landmark decade of empowering India to become a global manufacturing hub. Under the visionary leadership of Prime Minister Shri Narendra Modi, the program has played a pivotal role in boosting domestic manufacturing, fostering innovation, enhancing skill development, and facilitating foreign investment.

    10 Years of Impact: A Snapshot

    Foreign Direct Investment (FDI): Since 2014, India has attracted a cumulative FDI inflow of USD 667.4 billion (2014-24), registering an increase of 119% over the preceding decade (2004-14). This investment inflow spans 31 States and 57 sectors, driving growth across diverse industries. Most sectors, except certain strategically important sectors, are open for 100% FDI under the automatic route. FDI equity inflows into the manufacturing sector over the past decade (2014-24) reached USD 165.1 billion, marking a 69% increase compared to the previous decade (2004 -14), which saw inflows of USD 97.7 billion.

    Production Linked Incentive (PLI) Scheme: The PLI Schemes introduced in 2020 have resulted in ₹1.32 lakh crore (USD 16 billion) in investments and a significant boost in manufacturing output of ₹10.90 lakh crore (USD 130 billion) as of June 2024. Over 8.5 lakh jobs have been created directly and indirectly due to the initiative.

    Exports & Employment: India’s merchandise exports surpassed USD 437 billion in FY 2023-24. Exports have surged, with an additional ₹4 lakh crore generated due to the PLI schemes, while total employment in the manufacturing sector increased from 57 million in 2017-18 to 64.4 million in 2022-23.

    Ease of Doing Business: India’s commitment to improving business conditions is evident in its sharp rise from 142nd rank in 2014 to 63rd rank in 2019 in the World Bank’s Doing Business Report. Over 42,000 compliances have been reduced, and 3,700 provisions has been decriminalized. The Jan Vishwas (Amendment of Provisions) Act, 2023, passed by Lok Sabha on 27th July 2023 and Rajya Sabha on 2nd August 2023, which has decriminalized 183 provisions across 42 Central Acts.

     

     

    Key Reforms

    Semiconductor Ecosystem Development: Semicon India Program, worth ₹76,000 crore, aims to provide an impetus to semiconductor and display manufacturing by facilitating capital support and technological collaborations.  India has developed policies to support every segment of the semiconductor ecosystem, not just focusing on fabs but also including packaging, display wires, OSATs, sensors, and more.

    National Single Window System (NSWS): Launched in September 2021, this platform simplifies the investor experience, integrating clearances from 32 Ministries/ Departments and 29 States/UTs, facilitating rapid approvals.

    PM Gatishakti: PM Gati Shakti National Master Plan (NMP), a GIS based platform with portals of various Ministries/Departments of Government, was launched in October, 2021. It is a transformative approach to facilitate data-based decisions related to integrated planning of multimodal infrastructure, thereby reducing logistics cost.

    National Logistics Policy (NLP): Aimed at reducing logistics costs and increasing efficiency, the NLP, launched in 2022, is key to making Indian products more globally competitive.

    Industrial Corridors & Infrastructure: The development of 11 industrial corridors under the National Industrial Corridor Development Programme has seen the approval of 12 new projects with a projected investment of ₹28,602 crore. These corridors enhance India’s competitiveness by providing world-class infrastructure.

    One-District-One-Product (ODOP): Promoting indigenous products and craftsmanship across India, the ODOP initiative has fostered local economic development, with Unity Malls being set up in 27 states to provide platforms for these unique products.

    Startup India: The Government with intent to build a strong ecosystem for nurturing innovation and encouraging investments launched the Startup India initiative on 16th January 2016. Sustained efforts by the Government under the Startup India initiative have led to an increase in the number of recognised startups to 1,40,803 as on 30th June 2024, which have created over 15.5 lakh direct jobs.

    Government of India has undertaken a comprehensive and multi-faceted approach to boost both domestic and foreign investments, fostering a robust and dynamic economic environment. From landmark reforms such as the Goods and Services Tax (GST) and the reduction in corporate tax, to far-reaching measures aimed at improving ease of doing business and streamlining FDI policies, every step is geared towards creating a more investment-friendly ecosystem. Initiatives like the Phased Manufacturing Programme (PMP), public procurement orders, and Quality Control Orders (QCOs) are focused on driving domestic manufacturing and enhancing product quality.

    The Government’s proactive response to the challenges posed by COVID-19, through the Atmanirbhar Bharat packages and targeted investments under the National Infrastructure Pipeline (NIP) and National Monetization Pipeline (NMP), has turned adversity into an opportunity for growth. Tools such as the India Industrial Land Bank (IILB), Industrial Park Rating System (IPRS), and the National Single Window System (NSWS) further streamline processes for investors. Additionally, Project Development Cells (PDCs) in various Ministries ensure that investment proposals are fast-tracked, making India a more attractive destination for global and domestic investors. These efforts collectively reinforce India’s position as a burgeoning hub for manufacturing and innovation.

    As India moves into its next decade of growth, Make in India 2.0 focuses on furthering sustainability, innovation, and self-reliance. With strategic interventions in renewable energy, green technologies, and advanced manufacturing, the initiative is ensuring that Indian products meet the highest global standards.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Bharat has emerged as the most buoyant economy in the world that has 8% growth prospects for decades to come, stresses VP

    Source: Government of India (2)

    Bharat has emerged as the most buoyant economy in the world that has 8% growth prospects for decades to come, stresses VP

    India is now a global happening place and Uttar Pradesh is bubbling with activity, says VP

    Local to Global: Propelling India’s Economic Rise, says Shri Dhankhar

    Vice-President lauds Uttar Pradesh’s Transformation into ‘Uttam Pradesh’

    Synergy between PM Modi’s Vision and CM Yogi’s Leadership Driving India’s Journey toward Viksit Bharat by 2047, says VP Dhankhar

    Vice-President inaugurates the 2nd Edition of UP International Trade Show at Greater Noida in UP

    Posted On: 25 SEP 2024 3:53PM by PIB Delhi

    The Hon’ble Vice-President of India, Shri Jagdeep Dhankhar today stated that Bharat is now one of the most buoyant economies in the world and a favorite destination for global investment. Delivering the inaugural address at the 2nd edition of the Uttar Pradesh International Trade Show 2024, held in Greater Noida today, Shri Dhankhar highlighted, “Today, Bharat is a near $4 trillion economy that has 8% growth prospects for decades to come. India is now a global happening place and Uttar Pradesh, the state bubbling with activity”.

    Praising the country’s infrastructure development, Shri Dhankhar cited  addition of 8 new airports annually, rapid expansion of metro systems, and the daily construction of 28 kilometres of highway. Shri Dhankhar pointed to the 12 new industrial zones taking shape under Prime Minister Modi’s leadership, which will boost manufacturing and position India to capitalize on emerging technologies like AI, electric mobility, and semiconductors.

    The Vice-President emphasized the significant advancements in India’s infrastructure, stating, “We now have the world’s second-largest metro network, and the number of cities with airports has doubled from 70 to 140. India is the largest connected nation globally, with over 800 million broadband users.” He further highlighted the impact of digital technologies, which have enabled housing for 170 million people, health coverage for 60 million, and loans for 58 million small businesses annually.

    “In terms of digital financial transactions, India records the highest globally, with 13 billion transactions per month. Additionally, we boast the world’s third-largest startup ecosystem, featuring 117 unicorns and the third-largest purchasing power in the world,” he noted.

    Shri Dhankhar also underscored the importance of the semiconductor industry, stating, “This industry, which is critical to our growth, is projected to surpass $55 billion by 2026. I have no doubt this century belongs to Bharat”, he noted.

    Additionally, the Vice-President highlighted Bharat’s remarkable leap from “Make in India” to “Conceptualize, Design, and Make in India.” He noted that India is now engaged in its own concept evolution, with both multinational corporations and Indian companies adopting a synergetic stance.

    This event, Shri Dhankhar remarked, aligns with Prime Minister Modi’s vision of an ‘Atmanirbhar Bharat’ and embraces the motto of ‘Local to Global.’ “First, it was ‘Vocal for Local,’ and now we are taking it to the next level with ‘Local to Global.’ India’s progress is evident in various sectors, and this trade show serves as the right epicentre to propel that growth,” he added.

    Shri Dhankhar lauded Uttar Pradesh’s transformation into Uttam Pradesh under the synergy between Prime Minister Shri Narendra Modi’s vision and Chief Minister Shri Yogi Adityanath’s execution. He highlighted that this same synergy is propelling India’s transformation towards a Viksit Bharat by 2047.

    Commending the Chief Minister of Uttar Pradesh Shri Yogi Adityanath, the Vice President highlighted how Uttar Pradesh, once plagued with challenges, has been transformed into a beacon of progress and development. “Nothing is more important for investment than Law and order. Law and order defines Democracy and the CM of UP Yogi Adityanath defines Law and order!” he noted.

    The Vice-President also highlighted the significance of showcasing Vietnam as the Partner Country at the trade show, describing it as a natural partnership that will foster cultural and economic exchanges between the two nations while strengthening the resolve for a greater role for Global South in international affairs. “Vietnam has impressive GDP of $435 billion, and we look forward to witnessing their exceptional products and innovative manufacturing practices”, VP said.

    Shri Dhankhar said, “In this phenomenal economic upsurge and unprecedented infrastructure growth across the nation, the largest state of Uttar Pradesh is playing a pivotal role, unlike the scenario that existed a few years ago.” The Vice President expressed confidence that under CM Yogi Adityanath’s able leadership, Uttar Pradesh will achieve its target of becoming a $1 trillion economy by 2027, contributing significantly to India’s emergence as a $5 trillion economy.

    With its vast resources, burgeoning population, and strategic location, Uttar Pradesh is emerging as a growth engine propelling India’s economic trajectory. The Vice President stated, “Uttar Pradesh is no longer a sleeping giant; it is now a state in action, leveraging its strengths such as fertile land, a young workforce, religious tourism, and a vibrant ecosystem of Micro, Small, and Medium Enterprises (MSMEs).”

    Recalling the past, the Vice-President noted, “A decade ago, our economy was staggering, and the mood of the nation was shaky. But the last decade has seen unprecedented transformation.

    Finally the Vice-President called for collective effort, stating, “Ladies and gentlemen, as we advance, we are witnessing a new dawn for Uttar Pradesh—a future where our nation stands tall as a global leader in trade, innovation, and cultural heritage.”

    The Vice-President also visited the exhibition on the premises.

    Shri Yogi Adityanath, Chief Minister of Uttar Pradesh; Shri Jitan Ram Manji, Minister of Micro, Small and Medium Enterprises, Govt. of India, Shri Nand Gopal Gupta ‘Nandi’, Minister of Industrial Development, Export Promotion, NRI, Investment Promotion, Govt. of Uttar Pradesh, Shri Rakesh Sachan, Minister of MSME, Khadi and Villages Industries, Sericulture Industries, Handloom and Textile, Govt. of Uttar Pradesh and other dignitaries were also present on the occasion.

    Read full text here : https://pib.gov.in/PressReleasePage.aspx?PRID=2058592

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    MIL OSI Asia Pacific News –

  • MIL-OSI Canada: Upgrades to Chilkoot Way route in Whitehorse 

    Source: Government of Canada News (2)

    News release

    Whitehorse, Yukon, September 25, 2024 — Every day commuting and travel will be improved on the Chilkoot Way route in Whitehorse after a joint investment of $850,000 from the federal government and the City of Whitehorse.

    Upgrades include the installation of a new two-way protected bicycle lane on the north side of Chilkoot Way, a new pedestrian crossing, signage, crossing markings at high conflict areas and improved lighting. As well, there will be upgrades to traffic lights, an additional advance left turn signal at Chilkoot and Two Mile Hill, and a new cyclist push button for better accessibility. The cycling route will connect residents to downtown schools, the Whitehorse Health Clinic, workplaces and retail destinations along the riverfront, and routes between neighbourhoods.

    Improving the Chilkoot Way route provides a more accessible and safer active transportation connection to the existing Riverfront and Two Mile Hill multi-use paved pathways, and will make travelling easier for those who are walking, cycling or using transit.

    Quotes

    “The improvement of active transportation routes for communities supports healthier ways for people to travel. Upgrades to the Chilkoot Way route in Whitehorse will make transportation infrastructure for cyclists, pedestrians and transit users easier and more accessible as they travel to where they need to go every day.”

    The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

    “We are pleased to partner with the federal government to enhance the active transportation network in Whitehorse. The new active transportation route along Chilkoot Way is a game changer for cyclists moving into and out of the downtown core. It also promotes inclusivity, health and connection, catering to everyone, regardless of physical mobility, age or fitness level. This project represents the City’s ongoing commitment to developing a more sustainable and accessible community.”

    Her Worship Laura Cabott, Mayor of Whitehorse

    Quick facts

    • The federal government is investing $588,750 in this project through the Active Transportation Fund (ATF), and the City of Whitehorse is contributing $261,250.

    • Active transportation refers to the movement of people or goods powered by human activity. It includes walking, cycling and the use of human-powered or hybrid mobility aids such as wheelchairs, scooters, e-bikes, rollerblades, snowshoes, cross-country skis, and more.

    • In support of Canada’s National Active Transportation Strategy, the Active Transportation Fund is providing $400 million over five years, starting in 2021, to make travel by active transportation easier, safer, more convenient, and more enjoyable.

    • The National Active Transportation Strategy is the country’s first coast-to-coast-to-coast strategic approach for promoting active transportation and its benefits. The strategy’s aim is to make data-driven and evidence-based investments to build new and expanded active transportation networks, while supporting equitable, healthy, active, and sustainable travel options.

    • Investing in active transportation infrastructure provides many tangible benefits, such as creating employment opportunities, strengthening the economy, promoting healthier lifestyles, ensuring equitable access to services and opportunities, cutting air and noise pollution, and reducing greenhouse gas emissions. 

    • Beginning in 2026-2027, the new Canada Public Transit Fund (CPTF) will provide an average of $3 billion a year of permanent funding to respond to local transit needs by enhancing integrated planning, improving access to public transit and active transportation, and supporting the development of more affordable, sustainable, and inclusive communities. 

    • The CPTF supports transit and active transportation investments in three streams: Metro Region Agreements, Baseline Funding, and Targeted Funding.

    • We are currently accepting Expression of Interest submissions for Metro-Region Agreements and Baseline Funding. Visit the Housing, Infrastructure and Communities Canada website for more information.

    Associated links

    Contacts

    For more information (media only), please contact:

    Sofia Ouslis
    Communications Advisor
    Office of the Minister of Housing, Infrastructure and Communities
    Sofia.ouslis@infc.gc.ca

    Media Relations
    Housing, Infrastructure and Communities Canada
    613-960-9251
    Toll free: 1-877-250-7154
    Email: media-medias@infc.gc.ca
    Follow us on Twitter, Facebook, Instagram and LinkedIn
    Web: Housing, Infrastructure and Communities Canada

    Matthew Cameron
    Manager, Strategic Communications
    City of Whitehorse
    867-689-0515
    matthew.cameron@whitehorse.ca

    MIL OSI Canada News –

  • MIL-OSI USA: 2024 SARP West Closeout

    Source: NASA

    On August 12-13, 24 students from the West Coast cohort of NASA’s Student Airborne Research Program (SARP) gathered at University of California, Irvine (UCI) to present their final research to a room of mentors, professors, family, and NASA personnel.
    SARP is an eight-week summer internship for undergraduate students, hosted in two cohorts: SARP West operates out of Ontario Airport and UCI in California, while SARP East operates out of Wallops Flight Facility and Christopher Newport University in Virginia. After research introductions from faculty, instrument scientists, and staff, students are assigned one of four research categories: for SARP West, these categories are aerosols, terrestrial ecology,  whole air sampling (WAS), or oceans. Each group is led by a dedicated researcher who is a specialist in that field, along with a graduate student mentor. Over the course of the summer, each intern develops their own research project as they conduct field work, collect data, and fly onboard either the P-3 or B200 NASA flying laboratories.
    “You really see them become scientists in their own right,” said Stephanie Olaya, Program Manager for SARP East and West. “A lot of these projects are PhD level: they are researching and making novel discoveries for the field. They don’t even realize the magnitude of the things they’ve accomplished until the end of the program.”

    Stephanie olaya
    SARP Program Manager

    Research is not the only focus of the program, however. Faculty and mentors alike commented on the confidence they watched grow in the cohort over the two month internship, and the sense of camaraderie with their peers. Olaya says building a sense of community is a primary goal of the program, which encourages close friendships through communal living, regular group dinners, and weekend trips, in addition to the hours of team fieldwork, data collection, and laboratory analysis.  
    The final presentations are another critical facet of the program, as it teaches students how to communicate scientific research and results to a non-scientific audience. “We want to impress on these students that science is not just for scientists,” Olaya said. “Science is for everyone.”
    The event finished with closing remarks by Barry Lefer, Tropospheric Composition Program Manager at NASA Headquarters. “I want to welcome you to the SARP family,” Lefer said, “and to the NASA family.”
    To watch videos of these student’s presentations and/or read their research abstracts, please follow the links below.

    Introduced by Oceans Group PhD student mentor Lori Berberian, University Of California, Los Angeles

    Leveraging high resolution PlanetScope imagery to quantify oil slick spatiotemporal variability in the Santa Barbara Channel

    Emory Gaddis, Colgate University

    Investigating airborne LiDAR retrievals of an emergent South African macroalgae

    Rachel Emery, The University of Oklahoma

    Vertical structure of the aquatic light field based on half a century of oceanographic records from the Southern California current

    Brayden Lipscomb, West Virginia University

    Comparing SWOT and PACE satellite observations to assess modification of phytoplankton biomass and assemblage by North Atlantic ocean eddies

    Dominic Bentley, Pennsylvania State University

    Assessing EMIT observations of harmful algae in the Salton Sea

    Abigail Heiser, University of Wisconsin- Madison

    Reassessing multidecadal trends in water clarity for the Central and Southern California current system

    Emma Iacono, North Carolina State University

    Introduced by Atmospheric Aerosols PhD student mentor Madison Landi, University of California, Irvine

    A comparative analysis of tropospheric NO2: Evaluating TEMPO satellite data against airborne measurements

    Maya Niyogi, Johns Hopkins University

    Investigating the atmospheric burden of black carbon over the past decade in the Los Angeles Basin

    Benjamin Wells, San Diego State University

    Tracking methane and aerosols in relation to health effects in the San Joaquin Valley

    Devin Keith, Mount Holyoke College

    Investigating the effects of aerosols on photosynthesis using satellite imaging

    Lily Lyons, Brandeis University

    Validating the performance of CMAQ in simulating the vertical distribution of trace gases

    Ryleigh Czajkowski, South Dakota School of Mines and Technology

    Estimating aerosol optical properties using Mie Theory and analyzing their impact on radiative forcing in California

    Alison Thieberg, Emory University

    Introduced by WAS PhD student mentor Katherine Paredero, Georgia Institute of Technology

    Urban planning initiative: Investigation of isoprene emissions by tree species in the LA Basin

    Mikaela Vaughn, Virginia Commonwealth University

    VOC composition and ozone formation potential observed over Long Beach, California

    Joshua Lozano, Sonoma State University

    Investigating enhanced methane and ethane emissions over the Long Beach Airport

    Sean Breslin, University of Delaware

    Investigating elevated levels of toluene during winter in the Imperial Valley

    Katherine Skeen, University of North Carolina at Charlotte

    Characterizing volatile organic compound (VOC) emissions from surface expressions of the Salton Sea Geothermal System (SSGS)

    Ella Erskine, Tufts University

    Airborne and ground-based analysis of Los Angeles County landfill gas emissions

    Amelia Brown, Hamilton College

    Introduced by Terrestrial Ecology PhD student mentor Megan Ward-Baranyay, San Diego State University

    Predicting ammonia plume presence at feedlots in the San Joaquin Valley from VSWIR spectroscopy of the land surface

    Gerrit Hoving, Carleton College

    Burn to bloom: Assessing the impact of coastal wildfires on phytoplankton dynamics in California

    Benjamin Marshburn, California Polytechnic State University- San Luis Obispo

    Species-specific impact on maximum fire temperature in prescribed burns at Sedgwick Reserve

    Hannah Samuelson, University of St. Thomas

    Quantifying the influence of soil type, slope, and aspect on live fuel load in Sedgwick Reserve

    Angelina Harris, William & Mary

    From canopy to chemistry: Exploring the relationship between vegetation phenology and isoprene emission

    Emily Rogers, Bellarmine University

    Keeping it fresh(water): Understanding the influence of surface mineralogy on groundwater quality within volcanic aquifer systems

    Sydney Kent, Miami University

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: 19th India-Australia Joint Ministerial Commission Meeting

    Source: Government of India (2)

    Posted On: 25 SEP 2024 4:11PM by PIB Delhi

    Shri Piyush Goyal, Union Minister of Commerce and Industry led the Indian delegation to Adelaide and met Senator Don Farrel, Minister of Trade and Tourism, Australia.

    Minister Goyal co-chaired the 19th India- Australia Joint Ministerial Commission meeting. He emphasised on the tremendous trade and investment opportunities yet to be explored jointly both countries.

    He announced the opening of an Investment, Trade, Technology and Tourism (ITTT) office in Sydney which will have representation of Invest India, NICDIC, Export Promotion and DGFT including private sector (participation by CII). The primary mandate of this office would be facilitating trade issues between investors and businesses on both sides. He stressed on the unprecedented levels of trust and friendship between the two countries as their Prime Ministers met 9 times since May 2022.

    The Minister talked about celebrating 10 years of ‘Make in India’ initiative, which was launched by the Prime Minister of India Shri Narendra Modi in 2014. This initiative was based on the whole of government approach to address the challenges faced by manufacturers in India. Over the last 10 years, India achieved groundbreaking achievements in key sectors like manufacturing, technology, and infrastructure. Shri Goyal emphasised how ‘Make in India’ and ‘Future Made in Australia’ could be synergistic in their approach.

    He also spoke about the 4 D strengths of India—Decisive leadership, Demand of 1.4 billion aspirational Indians, Demographic Dividend with average age of India being 28.4 years, and Democracy.

    Shri Goyal flagged outstanding issues of ECTA for early progress including timely conclusion of Mutual Recognition Agreements (MRAs) in Services and Organics amongst others.

    Shri Goyal acknowledged on building more people to people engagements and increasing aviation connectivity between the two countries.

    He emphasised on how India offers an array of aspirational and highly skilled workforce with cutting edge knowledge, which could befittingly complement Australia’s demand in professional services.

    Both countries set a target of achieving 100 billion dollars trade by 2030. The committee also discussed greater cooperation at multilateral and other forums- G20, IPEF and WTO including the Domestic Services Regulation issue.

    The committee aimed for expediting the conclusion of CECA with a greater flow of goods and services along with increased investment for people and businesses on both sides.

    ***

    AD/VN/CNAN

    (Release ID: 2058619) Visitor Counter : 67

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: India’s Container Handling Capacity Set for a Twofold Increase in Five Years

    Source: Government of India

    India’s Container Handling Capacity Set for a Twofold Increase in Five Years

    Shri Sarbananda Sonowal Unveils Major Accomplishments of the Ministry of Ports, Shipping & Waterways in the Initial 100 Days of Government MoPSW is developing

    In the next five years, we project container handling to reach an impressive 40 million TEUs, creating 2 million job opportunities across the country: Shri Sarbananda Sonowal

    JNPA is going to become the first Indian Port to attain a Container Handling Capacity of 10 million TEUs in the coming months: Shri Sarbananda Sonowal

    International Container Transshipment Port (ICTP) at Galathea Bay, Great Nicobar Island, which will serve as a major transshipment hub

    PM Modi’s focus on holistic development and his mantra of ‘Transformation through Transportation’ are creating a paradigm shift in India’s maritime sector: Shri Sarbananda Sonowal

    Ship Building & Ship Repair Clusters to be established in five States – Gujarat, Maharashtra, Kerala, Andhra Pradesh and Odisha: Shri Sonowal

    3,900 acres of land allotted in DPA and VoCPA for setting up of Hydrogen Manufacturing Hubs. This will attract more than Rs. 5 Lakh Crores worth Of Investment in the Coming Years: Shri Sarbananda Sonowal

    Operationalization of the Mormugao Port cruise terminal in Goa

    The performance of major ports has improved, with traffic increasing by 4.87% in 2024

    Posted On: 25 SEP 2024 4:28PM by PIB Delhi

    In a comprehensive press conference held today the Union Minister of Ports, Shipping and Waterways Shri Sarbananda Sonowal, presented an extensive overview of the significant milestones achieved by the Ministry during the first 100 days. The conference was aimed at showcasing the Ministry’s contributions toward transforming India’s maritime sector and aligning with the vision of Maritime India Vision 2030 and Maritime Amritkaal Vision 2047.

     

    The event began with a detailed address by the Secretary of the Ministry of Ports, Shipping & Waterways, Shri T.K. Ramachandran, followed by the Minister’s remarks, both of which emphasized the Government’s proactive steps in revolutionizing India’s maritime infrastructure.

    Shri Sarbananda Sonowal commenced his address by acknowledging the unwavering guidance of Prime Minister Shri Narendra Modi, whose vision of ‘Ports for Prosperity and Ports for Progress’ has become the cornerstone of India’s maritime transformation. He highlighted that PM Modi’s focus on holistic development and his mantra of ‘Transformation through Transportation’ are leading to a complete overhaul of India’s maritime landscape.

    “Prime Minister Shri Narendra Modi Ji’s focus on holistic development and his mantra of ‘Transformation through Transportation’ are creating a paradigm shift in India’s maritime sector. This Government’s commitment to strengthening maritime infrastructure is paving the way for unprecedented economic growth and generating significant employment opportunities across the country. Waterways are becoming the new highways of India.”

    He further elaborated on the major initiatives taken by the Ministry under the guidance of PM Modi, highlighting that these are geared toward enhancing port infrastructure, improving ease of doing business, promoting sustainability, and creating employment opportunities.

    “After 25 years since the establishment of Kamarajar Port, the addition of Vadhvan Port marks a significant milestone in India’s maritime journey, alongside the recent notification of Galathea Bay as a major port. In the next five years, MoPSW projects container handling to reach an impressive 40 million TEUs, creating 2 million job opportunities across the country. JNPA alone will scale up its handling capacity from the current 6.6 million TEUs to 10 million.”
     

    “Recognizing the strategic importance of shipbuilding and ship repair, the Ministry is developing dedicated clusters in Maharashtra, Kerala, Andhra Pradesh, Odisha, and Gujarat. We are also allocating more than 3,900 acres in Kandla and VOC Port for the development of hydrogen manufacturing hubs, positioning India as a leader in clean energy. Additionally, we are eagerly looking forward to the upcoming ‘Sagarmanthan: The Great Ocean Conference,’ which will be held in Mumbai this November, further emphasizing focus on ocean sustainability and blue economy growth.”

    The Minister, Shri Sarbananda Sonowal, presented the Ministry’s accomplishments, focusing on flagship projects that will enhance India’s maritime capabilities and contribute to overall sector development. He underscored the foundation of Vadhvan Port, India’s first major port project of the 21st century, poised to become one of the largest all-weather deep-water ports with a capacity of 298 MMTPA.

    This mega port is expected to create 1.2 million employment opportunities and place an Indian port among the top 10 container ports globally, significantly improving international shipping connectivity and reducing transit times and costs.

    Another key project highlighted was the Tuticorin International Container Terminal on the East Coast, which will serve as a major transshipment hub, saving up to USD 200 per container and providing an estimated annual foreign exchange savings of USD 4 million.

    The Ease of Doing Business Initiatives introduced several reforms, including the establishment of the Indian Maritime Centre (IMC) to foster policy and operational synergy, the Indian International Maritime Dispute Resolution Centre (IIMDRC) to streamline maritime dispute resolutions, and the Sagar Aankalan Guidelines to benchmark port performance, enhancing global competitiveness. Additionally, the commencement of operations at Cochin Shipyard’s International Ship Repair Facility (ISRF), equipped with state-of-the-art ship lifts and workstations, positions India as a global leader in the ship repair market.

    The Ministry also successfully executed a landmark Deendayal Port Encroachment Drive, reclaiming 200 acres of encroached land for port-led industrial development. The performance of major ports has improved, with traffic increasing by 4.87% in 2024, and Visakhapatnam Port ranking among the top 20 in the World Bank’s Container Port Performance Index. As part of Greening Initiatives, the Ministry launched the Green Tug Transition Programme and allocated land for green hydrogen projects at Deendayal Port. In cruise tourism, the International Cruise Terminal at Visakhapatnam was operationalized, boosting both domestic and international maritime tourism prospects.

    The Secretary of the Ministry of Ports, Shipping, and Waterways, Shri T.K. Ramachandran, provided a comprehensive overview of the Ministry’s strategic initiatives. He highlighted key reforms aimed at strengthening maritime infrastructure, driving investment, and enhancing ease of doing business.

    “In the first 100 days of this Government, the Ministry has taken bold steps to implement key reforms, such as the establishment of the Indian Maritime Centre and the Indian International Maritime Dispute Resolution Centre, both of which will bolster India’s standing as a global leader in maritime infrastructure and logistics. We are on track to achieve the ambitious goals of the Maritime India Vision 2030 and Maritime Amritkaal Vision 2047, which focus on sustainable growth, enhanced connectivity, and improving the ease of doing business”, mentioned Shri TK Ramachandran, Secretary, MoPSW.

    During the press conference discussions from the 20th Maritime State Development Council Meeting held in September 2024, where the development of mega shipbuilding parks across various states was a focal point was mentioned. Additionally, MoPSW’s sanctioning of the Upgradation of Nagapattinam Port Infrastructure project in August 2024 was noted, which aims to launch a passenger ferry service between Nagapattinam (India) and Kankesanthurai (Sri Lanka), enhancing regional connectivity, trade, tourism, and economic opportunities.

    Shri Sarbananda Sonowal, outlined the Ministry’s upcoming priorities aimed at further enhancing India’s maritime sector. Key initiatives include the commencement of work on the International Container Transshipment Port (ICTP) at Galathea Bay, Great Nicobar Island, which will serve as a major transshipment hub. To strengthen India’s self-reliance in shipbuilding, the Shipbuilding Financial Assistance Policy will be expanded, along with the establishment of a Maritime Development Fund to boost domestic ship ownership. The Ministry is also set to enhance operational efficiency through digitalization with the EBS portal (Port Operating System), which will go live at five major ports, reducing logistics costs and streamlining operations.

    The notification of the Merchant Shipping Bill, incorporating international best practices for vessel safety, marine pollution, and maritime liabilities, was also mentioned, alongside the Coastal Shipping Bill, which seeks to foster a competitive coastal shipping environment, reduce transportation costs, promote Indian vessels, and integrate maritime transport with inland waterways.

    On the sustainability front, the Harit Nauka scheme will promote the transition to green fuels for inland vessels, and hydrogen-powered vessels will be manufactured at Cochin Shipyard. Additionally, the Cruise India Mission will be launched to position India as a premier cruising destination, with the operationalization of the Mormugao Port cruise terminal in Goa to accommodate growing domestic and international cruise tourism.

     “As we continue our journey under the visionary leadership of Hon’ble Prime Minister Narendra Modi Ji, we remain committed to transforming India’s maritime sector. With our focus on enhancing infrastructure, ease of doing business, and sustainability, we are driving the country toward becoming a global maritime powerhouse”, added Shri Sonowal.

    The Ministry of Ports, Shipping & Waterways is resolutely focused on achieving the goals set forth under the Maritime India Vision 2030. The efforts are directed toward ensuring sustainable growth, fostering innovation, and creating employment opportunities that will drive India’s maritime sector to global prominence.

    The press conference concluded with a Q&A session, providing a platform for the media to engage directly with both the Minister and the Secretary.

     

    NB/AK

    *****

    (Release ID: 2058632) Visitor Counter : 11

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Shri Jyotiraditya M. Scindia to Attend the Northeast Trade and Investment Roadshow in Bengaluru

    Source: Government of India (2)

    Posted On: 25 SEP 2024 7:17PM by PIB Delhi

    The Ministry of Development of the Northeastern Region (MDoNER) is organising the Northeast Trade and Investment Roadshow in Bengaluru on September 26, 2024, starting at 5 PM at the Four Seasons Hotel. The event will be graced by SHRI JYOTIRADITYA M. SCINDIA, Hon’ble Union Minister of Communications and Development of the Northeastern Region, Government of India.

    Senior officials from MDoNER, including Shri Chanchal Kumar, Secretary, and Sushri Monalisa Dash, Joint Secretary, will also be present, along with representatives from various Northeastern states.

    The event is being organised in collaboration with State governments of Northeastern, FICCI (Industry Partner), and Invest India (Investment Facilitation Partner).

    This marks the fourth major Roadshow in Bengaluru, featuring presentations from representatives of the eight Northeastern states: Assam, Arunachal Pradesh, Tripura, Mizoram, Manipur, Meghalaya, Sikkim, and Nagaland. They will highlight various investment opportunities in their respective states.

    Key investable sectors include IT & ITES, Healthcare, Education & Skill Development, Sports & Entertainment, Tourism & Hospitality, and Energy—all crucial for the region’s economic growth.

    The Northeast Investors Summit, organised by MDoNER, aims to attract investments and stimulate economic development. Previous roadshows in Mumbai, Hyderabad, and Kolkata received strong participation, while the State Seminar at Vibrant Gujarat drew significant interest from potential investors.

    To build on these efforts, MDoNER held a signing and exchange of MOUs event for the North East Investors Summit on March 6, 2024, at Vigyan Bhawan, New Delhi, facilitating Business-to-Government (B2G) meetings with senior officials from state governments.

    The Roadshow in Bengaluru is expected to attract many potential investors eager to be part of the growth journey in North East India.

    ****

    MG/SB/DP

    (Release ID: 2058755) Visitor Counter : 38

    MIL OSI Asia Pacific News –

  • MIL-OSI: CETY CEO KAM MAHDI ADDRESSES GOVERNMENT AND BUSINESS LEADERS AT FORUM FOR LATVIA PRESIDENT EDGARS RINKĒVIČS’ ECONOMIC DELEGATION TO CALIFORNIA

    Source: GlobeNewswire (MIL-OSI)

    Irvine, CA, Sept. 26, 2024 (GLOBE NEWSWIRE) — Clean Energy Technologies, Inc. (“CETY”) (Nasdaq: CETY), a clean energy manufacturing and services company offering eco-friendly green energy solutions, clean energy fuels, and alternative electric power for small and mid-size projects in North America, Europe, and Asia, today announced its participation in Latvia’s economic delegation visit to the US from September 17 to 23. Led by President Edgars Rinkēvičs, the delegation visited San Francisco and Silicon Valley, engaging with California government leaders, technology giants, and investors.

    CETY CEO Kam Mahdi was a key presenter at a program on the topic of California Technology Research and Investment. He discussed CETY’s growth as a comprehensive clean energy solutions company with growing global focus that includes expanding operations in North America, Europe, and Asia. The program was part of President Rinkēvičs focus on exploring opportunities for economic cooperation and growth for Latvia enterprises seeking a presence in the United States and specifically targeting California for its business and technology development ecosystem and leadership.

    The visit of President Rinkēvičs and other Latvian government officials and business leaders is an historic one. It was the first such high-level economic delegation to the US from Latvia. Accompanying President Rinkēvičs were Minister of Economics Viktors Valainis, Director General at Investment and Development Agency of Latvia Raivis Bremsmits, and over 50 Latvia entrepreneurs interested in California and North America for strategic growth. Meetings during the three-day visit included Microsoft, Google, NASA Ames, and Meta. AI was a big topic for this visit, especially given its potential use in all sectors and the concerns raised in the EU over privacy and security.

    Mr. Mahdi talked about the evolution of CETY from its inception, when it was first focused on waste heat recovery, using technology developed by General Electric, through its current expansion into becoming a comprehensive energy solutions provider. “We have developed expertise of the entire energy process from system design to generation and storage, distribution and management,” said Mahdi. “Clients come to us to discuss their needs, and we can develop solutions to effectively address them.”

    Mahdi also spoke at a meeting which included California State Treasurer Fiona Ma, Latvia Economics Minister Viktors Valainis, Latvia Investment and Development Agency Director Raivis Bremsmits, Toms Zvidriņš, Head of the US Office of Investment and Development Agency of Latvia, Martins Andersons, President of the American Latvian Association, and Latvia business leaders.

    CETY has been involved in a waste heat to energy project in Latvia since 2018, with EkoNams, a company that builds Scandanvian-style log homes, the design of which is influenced by historic craftsmanship and the execution of which relies on new technologies. Building on that project, CETY has been in discussion with other Latvia companies interested in collaboration or partnerships.

    President Rinkēvičs’ delegation followed up on a July 2024 California delegation to Latvia led by California State Treasurer Fiona Ma and State Senator Josh Newman. The delegation included California businesses, and involved meetings with top government and business leaders, including former Latvia Prime Minister and current European Commissioner for Trade Valdis Dombrovskis, Prime Minister Evika Siliņa, and Transportation Minister Kaspars Briškens, to discuss investment, economic and technological collaboration, and development opportunities in key Baltic growth sectors. As part of that delegation, Mr. Mahdi was an invited speaker on the Ministry of Foreign Affairs Forum on Sustainable Energy Technologies and Innovations, along with former California Senator and energy entrepreneur Robert Hertzberg.

    About Clean Energy Technologies, Inc. (CETY)

    Headquartered in Irvine, California, Clean Energy Technologies, Inc. (CETY) is a rising leader in the zero-emission revolution by offering eco-friendly green energy solutions, clean energy fuels and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We deliver power from heat and biomass with zero emission and low cost. The Company’s principal products are Waste Heat Recovery Solutions using our patented Clean CycleTM generator to create electricity. Waste to Energy Solutions convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electricity and BioChar. Engineering, Consulting and Project Management Solutions provide expertise and experience in developing clean energy projects for municipal and industrial customers and Engineering, Procurement and Construction (EPC) companies.

    CETY’s common stock is currently traded on the Nasdaq Capital Market under the symbol CETY. For more information, visit http://www.cetyinc.com.

    For video examples please visit CETY’s YouTube channel:
    https://www.youtube.com/@CleanEnergyTechnologiesInc.

    Follow CETY on our social media channels: Twitter | LinkedIn | Facebook

    This summary should be read in conjunction with the Company’s quarterly report on Form 10-Q for the quarterly period ended March 31, 2024 and other periodic filings made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, which contain, among other matters, risk factors and financial footnotes as well as a discussions of our business, operations and financial matters located on the website of the Securities and Exchange Commission at http://www.sec.gov.

    Safe Harbor Statement

    This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company’s analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the “Safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of CETY’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by words such as: “anticipate,” “plan,” “expect,” “estimate,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Any forward-looking statement made by the Company in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Clean Energy Technologies, Inc.
    Investor and Investment Media inquiries:
    949-273-4990
    ir@cetyinc.com
    Source: Clean Energy Technologies, Inc.

    The MIL Network –

  • MIL-OSI: Jamf Announces Additions of CISO, Andrew Smeaton, and Global Vice President of Channel & Alliances, Marc Botham 

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS, Sept. 26, 2024 (GLOBE NEWSWIRE) — Jamf (NASDAQ: JAMF), the standard in managing and securing Apple at work, today announced it has enhanced its leadership team with two key new hires: Andrew Smeaton as Chief Information Security Officer and Marc Botham as Global Vice President of Channel and Alliances.

    “I am thrilled to announce the addition of two seasoned industry leaders to the Jamf leadership team,” said John Strosahl, CEO of Jamf. “Bringing their individual experiences into Jamf will undoubtedly continue to propel Jamf forward as the only company to offer a complete management and security solution in the Apple-first environment.”

    Smeaton brings over 25 years of global information security experience, navigating complex, multi-stakeholder environments across Europe, North America, and the Middle East. As the CISO at Jamf, Smeaton will focus on Jamf’s information security vision and approach, and champion Jamf’s security platform in the market. Responsible for leading a global team of information security professionals, Smeaton excels in aligning security with business goals, developing proactive risk management cultures, and implementing security strategies from inception to execution. 

    Smeaton comes to Jamf after serving as CISO of Afiniti, and previously held CISO roles at DataRobot, MIB Group, The Saudi Investment Bank, and more. His extensive skill set includes security risk management, program development, regulatory compliance, and cloud security, complemented by a strong IT background and numerous certifications, including CISSP, CISA, and CISM.

    “I’m honored to be joining the Jamf team and working with such a talented, customer-oriented group of people who have packaged management and security together impeccably for an industry that is increasingly relying on mobile devices to drive business success,” said Smeaton. “The dependence on Apple devices in the enterprise is only increasing, and you can bet adversaries won’t pass up the opportunity to strike while the iron’s hot. I’m looking forward to amplifying security buyers’ awareness of Jamf and working with our extremely talented Threat Labs team to uncover, defend, and protect customers against the threats of tomorrow.”

    Joining Jamf as the Global Vice President of Channel and Alliances, Botham brings over 25 years of experience in the channel, most recently as the Head of the EMEA Channel of Docusign. Recognized as CRN’s 2022 Channel Chief of the Year, Botham will be responsible for developing and implementing partner strategies on a global scale, designing channel programs that enable Jamf to establish substantive growth markets aligned with Jamf’s strategic partner ecosystem, and positioning Jamf as the Apple Enterprise Management solution provider. 

    “I am thrilled to be joining the Jamf team and I am excited to build on the exciting momentum the Jamf channel program has already had this year,” said Botham. “Jamf is on the cusp of some incredible growth in the channel, and I’m honored to be joining at such an exciting time in Jamf’s channel journey.  I look forward to continuing to serve Jamf’s existing partnerships as well as help Jamf continue to expand globally within the channel.”

    The hires of Smeaton and Botham come on the heels of Jamf’s inclusion in PEOPLE Magazine as the #45 ranked organization in the Companies that Care list, and Jamf’s announcement of its new Global Partner Program. 

    For more information on Jamf and its latest news, visit http://www.jamf.com.

    About Jamf

    Jamf’s purpose is to simplify work by helping organizations manage and secure an Apple experience that end users love and organizations trust. Jamf is the only company in the world that provides a complete management and security solution for an Apple-first environment that is enterprise secure, consumer simple and protects personal privacy. To learn more, visit http://www.jamf.com. 

    Media Contact

    Natali Brockett | media@jamf.com

    Investor Contact

    Jennifer Gaumond | ir@jamf.com

    The MIL Network –

  • MIL-OSI Africa: The International Islamic Trade Finance Corporation (ITFC) and Union of Comoros Strengthen Partnership with New EUR 330 Million Framework Agreement and Food Security Facility

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

    JEDDAH, The Kingdom of Saudi Arabia, September 26, 2024/APO Group/ —

    The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank (IsDB) Group, and the Union of Comoros have signed a new EUR 330 Million Framework Agreement, reinforcing their strong partnership. The agreement was signed by ITFC’s CEO, Eng. Hani Salem Sonbol, Comoros’ Minister of Finance, Budget, and Banking Sector, and IsDB Governor, H.E. Mr. Mohamed Ibrahim Abdourazak, during his visit to ITFC’s headquarters in Jeddah.

    The new 3-year Framework Agreement builds on the success of the previous EUR 330 million agreement, which achieved 83% of its target. It will focus on key sectors such as energy, agriculture, and SME support, aiming to mobilize trade financing and enhance economic development in Comoros. Since 2008, ITFC has approved over US$ 712 million in financing for Comoros, demonstrating a long-standing commitment to the country’s growth.

    Commenting on the signing, Eng. Hani Salem Sonbol, CEO of ITFC said, “We are proud to strengthen our partnership with the Union of Comoros through this new framework agreement, which reflects our shared commitment to fostering sustainable economic development. By focusing on key sectors such as energy, agriculture, and SME development, we aim to support the country in achieving its long-term goals under the Emerging Comoros Plan. Our efforts, including the newly signed Food Security Facility, demonstrate our dedication to addressing critical needs such as food security while empowering key industries to drive growth.”

    The Minister of Finance, Budget and Banking of the Union of Comoros, Mr. Ibrahim Mohamed Abdourazak, also commented: “I am proud and optimistic to sign today this framework agreement between the Union of Comoros and the International Islamic Trade Finance Corporation (ITFC). This agreement marks a key milestone for the development of vital sectors such as energy, agriculture, and SMEs, the driving forces of our economy. In addition, ITFC signed a EUR 20 Million Food Security Facility in favor of the Union of Comoros and with two local banks, BDC and AFG Bank, as Executing Agencies, to support the continuous supply of essential foodstuffs at affordable prices to address food security challenges in the country. The Government of Comoros remains firmly committed to the priority programs and projects of the “Plan Comores Émergents”. Finally, on behalf of the Comorian Government and on my behalf, I would like to warmly thank ITFC for its ongoing support and look forward to strengthening our collaboration.” 

    ITFC’s broader support for Comoros includes capacity-building initiatives, such as the Reverse Linkage Project with Morocco for the sustainable tourism sector, and the equipment of the Central Vanilla Buying and Marketing Center under the Aid for Trade Initiative for the Arab States (AfTIAS 2.0) program. These efforts underline ITFC’s commitment to fostering sustainable development through integrated trade solutions.

    MIL OSI Africa –

  • MIL-OSI: Strong Global Entertainment Announces Closing of Sale of Strong/MDI for Approximately $30 Million

    Source: GlobeNewswire (MIL-OSI)

    Mooresville, NC, Sept. 26, 2024 (GLOBE NEWSWIRE) — Strong Global Entertainment, Inc. (NYSE: SGE) (“Strong Global”) and Fundamental Global Inc. (Nasdaq: FGF, FGFPP) (“Fundamental Global”) are pleased to announce the closing of the previously announced sale of Strong/MDI Screen Systems, Inc. (“MDI”) from Strong Global to Saltire Holdings Ltd (“Saltire”).

    Mark Roberson, Chief Executive Officer of Strong Global, commented, “We are pleased to announce the closing of the sale of MDI. This is one element of our previously announced strategy to streamline operations, increase liquidity and drive shareholder value. We expect the transaction to result in a net pre-tax financial statement gain in excess of $25 million. At closing, Strong Global holds approximately 37% of the outstanding common shares of Saltire, and we look forward to participating in the Saltires’ long term growth strategy.”

    At closing, and after a working capital adjustment, Strong Global received total consideration of $29.5 million, consisting of $0.8 million of cash, $9.0 million of preferred shares of Saltire, and $19.7 million of common shares of Saltire.

    Prior to the Closing, Strong Global did not own or control any securities of Saltire. Strong Global received 1,972,723 common shares and 900,000 series A preferred shares of Saltire as consideration under the transaction.

    Strong Global may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, general economic and industry conditions, Saltire’s business and financial condition, and/or other relevant factors, and Strong Global may develop such plans or intentions in the future.

    A copy of the Early Warning Report to be filed by Strong Global in connection with the transaction described above will be available on its SEDAR+ profile at http://www.sedarplus.ca.

    About Strong Global Entertainment, Inc.

    Strong Global Entertainment, Inc., a majority owned subsidiary of Fundamental Global Inc., is a leader in the entertainment industry, providing mission critical products and services to cinema exhibitors and entertainment venues for over 90 years.

    About Fundamental Global Inc.

    Fundamental Global Inc. (Nasdaq: FGF, FGFPP) and its subsidiaries engage in diverse business activities including reinsurance, asset management, merchant banking, manufacturing and managed services.

    The FG® logo and Fundamental Global® are registered trademarks of Fundamental Global LLC.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements are therefore entitled to the protection of the safe harbor provisions of these laws. These statements may be identified by the use of forward-looking terminology such as “anticipate,” “believe,” “budget,” “can,” “contemplate,” “continue,” “could,” “envision,” “estimate,” “expect,” “evaluate,” “forecast,” “goal,” “guidance,” “indicate,” “intend,” “likely,” “may,” “might,” “outlook,” “plan,” “possibly,” “potential,” “predict,” “probable,” “probably,” “pro-forma,” “project,” “seek,” “should,” “target,” “view,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or other variations thereon or comparable terminology. In particular, discussions and statements regarding the Company’s future business plans and initiatives are forward-looking in nature. We have based these forward-looking statements on our current expectations, assumptions, estimates, and projections. While we believe these to be reasonable, such forward-looking statements are only predictions and involve a number of risks and uncertainties, many of which are beyond our control. These and other important factors may cause our actual results, performance, or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements, and may impact our ability to implement and execute on our future business plans and initiatives. Management cautions that the forward-looking statements in this release are not guarantees of future performance, and we cannot assume that such statements will be realized or the forward-looking events and circumstances will occur. Factors that might cause such a difference include, without limitation: risks associated with our inability to identify and realize business opportunities, and the undertaking of any new such opportunities; our lack of operating history or established reputation in the reinsurance industry; our inability to obtain or maintain the necessary approvals to operate reinsurance subsidiaries; risks associated with operating in the reinsurance industry, including inadequately priced insured risks, credit risk associated with brokers we may do business with, and inadequate retrocessional coverage; our inability to execute on our investment and investment management strategy, including our strategy to invest in the risk capital of special purpose acquisition companies (SPACs); our ability to maintain and expand our revenue streams to compensate for the lower demand for our digital cinema products and installation services; potential interruptions of supplier relationships or higher prices charged by suppliers in connection with our Strong Global business; our ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments; our ability to maintain Strong Global’s brand and reputation and retain or replace its significant customers; challenges associated with Strong Global’s long sales cycles; the impact of a challenging global economic environment or a downturn in the markets; the effects of economic, public health, and political conditions that impact business and consumer confidence and spending, including rising interest rates, periods of heightened inflation and market instability; potential loss of value of investments; risk of becoming an investment company; fluctuations in our short-term results as we implement our new business strategy; risks of being unable to attract and retain qualified management and personnel to implement and execute on our business and growth strategy; failure of our information technology systems, data breaches and cyber-attacks; our ability to establish and maintain an effective system of internal controls; our limited operating history as a public company; the requirements of being a public company and losing our status as a smaller reporting company or becoming an accelerated filer; any potential conflicts of interest between us and our controlling stockholders and different interests of controlling stockholders; potential conflicts of interest between us and our directors and executive officers; risks associated with our related party transactions and investments; and risks associated with our investments in SPACs, including the failure of any such SPAC to complete its initial business combination. Our expectations and future plans and initiatives may not be realized. If one of these risks or uncertainties materializes, or if our underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. You are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements are made only as of the date hereof and do not necessarily reflect our outlook at any other point in time. We do not undertake and specifically decline any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect new information, future events or developments.

    Investor Relations Contacts:
    IR@strong-entertainment.com

    investors@fundamentalglobal.com

    The MIL Network –

  • MIL-OSI: AMD Instinct MI300X Accelerators Available on Oracle Cloud Infrastructure for Demanding AI Applications

    Source: GlobeNewswire (MIL-OSI)

    — Customers including Fireworks AI are powering their AI inference and training workloads with new OCI Compute instances —

    — OCI Supercluster leads among cloud providers with support for up to 16,384 AMD Instinct MI300X GPUs in a single ultrafast network fabric —

    SANTA CLARA, Calif., Sept. 26, 2024 (GLOBE NEWSWIRE) —  AMD (NASDAQ: AMD) today announced that Oracle Cloud Infrastructure (OCI) has chosen AMD Instinct™ MI300X accelerators with ROCm™ open software to power its newest OCI Compute Supercluster instance called BM.GPU.MI300X.8. For AI models that can comprise hundreds of billions of parameters, the OCI Supercluster with AMD MI300X supports up to 16,384 GPUs in a single cluster by harnessing the same ultrafast network fabric technology used by other accelerators on OCI. Designed to run demanding AI workloads including large language model (LLM) inference and training that requires high throughput with leading memory capacity and bandwidth, these OCI bare metal instances have already been adopted by companies including Fireworks AI.

    “AMD Instinct MI300X and ROCm open software continue to gain momentum as trusted solutions for powering the most critical OCI AI workloads,” said Andrew Dieckmann, corporate vice president and general manager, Data Center GPU Business, AMD. “As these solutions expand further into growing AI-intensive markets, the combination will benefit OCI customers with high performance, efficiency, and greater system design flexibility.”

    “The inference capabilities of AMD Instinct MI300X accelerators add to OCI’s extensive selection of high-performance bare metal instances to remove the overhead of virtualized compute commonly used for AI infrastructure,” said Donald Lu, senior vice president, software development, Oracle Cloud Infrastructure. “We are excited to offer more choice for customers seeking to accelerate AI workloads at a competitive price point.”

    Bringing Trusted Performance and Open Choice for AI Training and Inference
    The AMD Instinct MI300X underwent extensive testing which was validated by OCI that underscored its AI inferencing and training capabilities for serving latency-optimal use cases, even with larger batch sizes, and the ability to fit the largest LLM models in a single node. These Instinct MI300X performance results have garnered the attention of AI model developers.

    Fireworks AI offers a fast platform designed to build and deploy generative AI. With over 100+ models, Fireworks AI is leveraging the benefits of performance found in OCI using AMD Instinct MI300X.

    “Fireworks AI helps enterprises build and deploy compound AI systems across a wide range of industries and use cases,” said Lin Qiao, CEO of Fireworks AI. “The amount of memory capacity available on the AMD Instinct MI300X and ROCm open software allows us to scale services to our customers as models continue to grow.”

    Supporting Resources

    About AMD
    For more than 50 years AMD has driven innovation in high-performance computing, graphics, and visualization technologies. Billions of people, leading Fortune 500 businesses, and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work, and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn, and Twitter pages.

    AMD, the AMD Arrow logo, Instinct, ROCm, and combinations thereof are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.

    Trademarks
    Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

    Contact:
    David Szabados
     AMD Communications
    +1 408-472-2439
    david.szabados@amd.com

    Mitch Haws
    AMD Investor Relations
    +1 512-944-0790 
    mitch.haws@amd.com

    The MIL Network –

  • MIL-OSI: Gevo Acquires CultivateAI for its Verity Business Unit

    Source: GlobeNewswire (MIL-OSI)

    ENGLEWOOD, Colo., Sept. 26, 2024 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) has acquired Cultivate Agricultural Intelligence, LLC (“CultivateAI”) for $6 million in cash, with the opportunity for the sellers to receive additional earn-out payments. Gevo will fold CultivateAI into its wholly owned Verity subsidiary to accelerate Verity’s business development and growth. CultivateAI is a proven business with expected 2024 revenue of $1.7 million and corresponding positive cash flow. CultivateAI provides agricultural data to clients through a software as a service (“SaaS”) platform.

    Gevo expects to combine CultivateAI’s digital agriculture data and analytics platform with Verity’s carbon accounting and tracking solutions to provide the highest quality data-driven solutions for carbon abatement in food, feed, fuels, and industrial markets, while simultaneously helping farmers improve their operations, sustainability, and profitability. CultivateAI’s SaaS platform is a cloud-based, mobile platform that helps farm operators, agronomists, ag-service providers, and researchers make informed, data-driven decisions with real-time analytics.

    “Adding CultivateAI and its inventive approach to Verity will help us grow revenue by providing the most complete set of data-driven analytics services to farmers, agronomists, and researchers,” said Dr. Paul Bloom, Head of Verity and Chief Carbon Officer of Gevo. “With this acquisition, Verity is speeding up our development and increasing the value we will deliver to our customers.”

    Verity is at the forefront of creating the ability to track, verify, and empirically value carbon intensity across the full carbon lifecycle. By adding the tools and existing business from CultivateAI, Verity will benefit from the addition of clients outside the biofuel segment as well as additional revenue streams.

    “We are constantly looking for this kind of development that delivers new streams of untapped revenue to the company,” said Dr. Pat Gruber, CEO of Gevo. “As we accelerate development of Verity, we expect to see these customer relationships and revenue opportunities grow as customers seek out new products and services that help them understand their businesses better. These new business elements support our mission of growing an efficient circular economy, and delivering shareholder returns by adding scalable revenue opportunities now.”

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

    For more information, see http://www.gevo.com.

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

    For more information, see http://www.veritytracking.com.

    About CultivateAI
    CultivateAI is a cloud-based, mobile platform that helps its customers make informed, data-driven decisions with real-time analytics. Its trusted insights are designed to help agricultural operations increase production, manage risk, and maximize profitability.

    For more information, see cultivateagi.com.

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

    Media Contact
    Lindsay Fitzgerald
    Senior Vice President of Public Affairs
    PR@gevo.com

    Investor Contact
    Eric Frey, PhD
    Vice President of Finance & Strategy
    IR@Gevo.com

    The MIL Network –

  • MIL-OSI: LPL Financial Welcomes GreenPoint Wealth Management

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Sept. 26, 2024 (GLOBE NEWSWIRE) — LPL Financial LLC, announced today that financial advisors Jeff Minucci, CFP®, and David Ryzman, CFP®, have joined LPL Financial’s broker-dealer, RIA and custodial platforms. They reported having served approximately $150 million in advisory, brokerage and retirement plan assets* and join LPL from Osaic.

    For more than 20 years, Minucci and Ryzman have collaborated in various roles within the financial services industry, eventually becoming business partners in the independent space. They specialize in developing innovative strategies to help meet their clients’ retirement planning objectives and use robust financial education to encourage their clients to better understand their financial portfolios.

    “We believe in a comprehensive approach, which includes designing plans tailored to each individual client to help reduce risk and tax implications, while focusing on long-term performance, sustainable retirement income and effective estate protection,” Minucci said.

    With the move to LPL, the McKinney, Texas-based advisors have launched a new firm, GreenPoint Wealth Management.

    “We wanted to create our own identity and shape our practice on our terms,” Ryzman said. “After a thorough due diligence process, we felt LPL was the ideal landing spot to support our continued growth. We appreciate LPL’s strong reputation as a leading wealth management firm. We’ve also found that LPL has streamlined processes that make it much easier to do business, which then gives us more time to spend taking care of our clients.”

    Scott Posner, LPL Executive Vice President, Business Development, said, “We extend a warm welcome to Jeff and David and congratulate them on the launch of GreenPoint Wealth Management. Through integrated capabilities and comprehensive business management solutions, LPL is driving flexibility and efficiency, enabling independent financial advisors to focus on growth, entrepreneurialism and putting their clients first.”

    Related

    Advisors, learn how LPL Financial can help take your business to the next level.

    About LPL Financial

    LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and institutions, and not the other way around. Today, LPL is a leader in the markets we serve, serving more than 23,000 financial advisors, including advisors at approximately 1,000 institutions and at approximately 580 registered investment advisor firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and institution leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors and institutions, so they can take care of their clients.

    Securities and Advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor. Member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. GreenPoint Wealth Management and LPL Financial are separate entities.

    Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

    We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

    *Value approximated based on asset and holding details provided to LPL from end of year, 2023.

    Media Contact: 
    Media.relations@LPLFinancial.com 
    (704) 996-1840

    Tracking #633622

    The MIL Network –

  • MIL-OSI: Wearable Devices Boldly Welcomes Meta’s Neural Control Entry to the AR/VR/XR Market

    Source: GlobeNewswire (MIL-OSI)

    Yokneam Ilit, Israel, Sept. 26, 2024 (GLOBE NEWSWIRE) — Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), an award-winning pioneer in AI-based gesture control technology, today applauded Meta’s entrance into the gesture control space with its announcement at Meta Connect 2024.

    “Welcome, Meta. Seriously,” declared Wearable Devices’ Chief Executive Officer Asher Dahan. “Competition only fosters innovation, and we are encouraged to see Meta’s nascent commitment to the neural interface sector which we at Wearable Devices have been advancing and perfecting for over a decade.”

    With its award-winning Mudra Band and Mudra Link neural gesture control devices, both of which empower users with hands-free digital navigation, Wearable Devices long ago redefined the way people interact with technology. The Company has repeatedly demonstrated the transformative nature of neural interface technology, enabling users to control digital environments using their thoughts and intentions, opening new doors for hands-free interaction with devices and digital experiences.

    “Meta’s new move into this field validates the immense potential and growing importance of neural control,” added Mr. Dahan. “Clearly, we at Wearable Devices have been onto something big all along as the trailblazers in neural wearables, and we look forward to continuing to push boundaries alongside other key players in the space.”

    In the past year, the Mudra Band has enhanced the experience of thousands of users, showcasing its proven value. While Meta presented its neural wristband as a ‘Purposeful Product Prototype’ for smart glasses, we offer a versatile solution that controls computers, applications, and smart glasses.

    Wearable Devices has long been at the forefront of gesture control innovation, having won the prestigious ‘Best of CES Innovation Award’ in 2021 for its Mudra Band, the first neural interface wristband.

    For more information, visit http://www.wearabledevices.co.il.

    About Wearable Devices Ltd.

    Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices Is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s ordinary shares and warrants trade on the Nasdaq market under the symbols “WLDS” and “WLDSW”, respectively.

    Forward-Looking Statement Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss the benefits and advantages of the Company’s devices and technology . All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023, filed on March 15, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Relations Contact

    Walter Frank
    IMS Investor Relations
    203.972.9200
    wearabledevices@imsinvestorrelations.com

    Media Contact:

    Steve Schuster
    Rainier Communications
    steve@rainierco.com
    +1-508-868-5892

    The MIL Network –

  • MIL-OSI: Deutsche Bank ADR Virtual Investor Conference: Presentations Now Available for Online Viewing

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 26, 2024 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the Deutsche Bank Depositary Receipts Virtual Investor Conference (“dbVIC”) held September 24th and 25th are now available for online viewing.

    REGISTER NOW AT: https://bit.ly/3ZHifQf

    The company presentations will be available 24/7 for 90 days.

    September 24th


    September 25    th

    To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit http://www.virtualinvestorconferences.com.

    About Virtual Investor Conferences®

    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

    Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    Media Contact: 
    OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com

    Virtual Investor Conferences Contact:
    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com

    The MIL Network –

  • MIL-OSI United Kingdom: That’s a wrap: deal done for biggest sport and health investment in region

    Source: City of Plymouth

    A mind-boggling 26 leases and other legal agreements, three key sports teams, numerous sports funding and community organisations – the starting pistol has well and truly been fired on the biggest sport and health investment Plymouth has seen since the opening of the Life Centre.

    Plymouth Argyle Football Club, Plymouth Argyle Community Trust, Plymouth Albion RFC, Plymouth City Council and Devonport Community Leisure Limited have now finished the negotiations and deals around parcels of land and buildings in and around the Brickfields site in Devonport.

    With the complex paperwork complete, start on site for this transformational project is about to get underway.

    Councillor Sue Dann, Cabinet Member for Customer Services, Sports and Leisure said: “It’s been a hugely complex scheme and is the most significant sports pitch hub development in Devon and Cornwall. All the players involved have been dedicated to the idea of this transformational sports regeneration scheme – not just for the elite super fit athletes but for creating revitalised facilities for the people of Plymouth – and Devonport in particular – to help them remain healthy and well.”

    To give an idea of the complexities behind the scheme, Devonport Community Leisure Ltd had to relinquish their lease on the Brickfields building to enable the work on the hub to start. The hub is going to be run by Plymouth Argyle Community Trust, who have considerable experience of managing a community hub at Manadon. The athletic club is getting a new club house, but that means the old one will need to be demolished.

    All the facilities had to comply with the exacting standards of the sports organisations in terms of ensuring the pitches are built to the right specifications. The timetabling of planned work is all designed to cause as little interruption as possible to programmed sporting events. Tied into all of these are funding agreements from organisations such as the Football Foundation and the Government’s Youth Investment Fund.

    Part of this massive puzzle has included creating a pétanque terrain nearby for Plymouth Petanque club who had a terrain on the Brickfields site. Ensuring there is capacity for parking for visitors was also another consideration – and an underused car park is to be utilised at weekends for visitors.

    Stoke Damerel Community College is to become the new home of hockey for the west of Plymouth, with a new, 2G sand pitch for both school and community use with modern flood lighting for all year round use. It will also be used for other sports and for the day-to-day PE needs of the college. A smaller rubber-crumb 3G surface is being built for football and contact rugby training and will replace the standing 20-year-old artificial surface. An improved grass playing pitch is also planned.

    Work on these facilities is underway but for now all eyes are on the start of work at Brickfields. At the core of the proposals is a new permanent home for Plymouth Argyle’s youth wing, the Argyle Academy, and Plymouth Argyle Women.

    Extensive community and sport facilities include new grass and all-weather 3G pitches, athletics facilities for the City of Plymouth Athletics Club and other users, play zones exclusively for public use, better public access, landscaped public areas, and parking.

    Work on the community hub on the site of the former Brickfields sports centre has been progressing. The new hub, which will deliver much needed accessible and affordable community space to connect people and offer a wide range of wellbeing services.

    Who is involved: the big players

    • Plymouth City Council
    • Plymouth Argyle FC
    • Plymouth Argyle Community Trust
    • Plymouth Albion RFC
    • Devonport Community Leisure Ltd

    On the team:

    • Livewell South West
    • City of Plymouth Athletic Club
    • Plymouth Petanque
    • Football Foundation
    • Sport England
    • Rugby Football Union
    • England Hockey
    • The Department for Digital, Culture, Media & Sport (DCMS)
    • Ministry of Defence

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: SFST’s speech at Bloomberg Buy-Side Forum Hong Kong (English only) (with photo)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the Bloomberg Buy-Side Forum Hong Kong today (September 26): Jeffrey (Global Head of Buy-Side Enterprise Sales of Bloomberg, Mr Jeffrey Leckstein), Manju (APAC Head of Buy-Side Product Sales of Bloomberg, Ms Manju Sakhrani), Irene (Head of Sales, Greater China Buy-Side of Bloomberg, Ms Irene Lam), distinguished guests, ladies and gentlemen,     Good morning. I am very delighted to join you all at the Bloomberg Buy-Side Forum Hong Kong. This flagship event brings together influential business leaders and decision makers to explore timely and transformative topics that are reshaping the asset and wealth management industry. And this is very timely. Just last week the Federal Reserve cut interest rates by 0.5 percentage points. Hong Kong quickly followed suit and the news was cheered by investors and financial markets. Also, Hong Kong ranked third globally in the Global Financial Centres Index 36 Report published two days ago, up by one place from the previous issue. Back in April this year, I had the pleasure of meeting Mr Michael Bloomberg in New York to discuss global financial trends. During my visit to the Big Apple, I also spoke about the “ABCs” of Hong Kong’s role as a global financial centre: an “anchor” for financial stability, a “buffer” against risk and a “capstan” with a strategic location in Asia. Today I would like to focus on the “D” word – “dividends”Overview     Today’s agenda explores new prospects for growth and innovation in the Asia Pacific markets, covering key topics including risk management, automation, data and technology, and more. A common factor is that all of these topics are conducive to long-term, sustainable growth and dividends for investors and the industry.     As with our ongoing efforts to boost Hong Kong’s position as the region’s premier international financial centre, Hong Kong offers three distinct types of dividends, namely “diversification”, “succession” and “silver” dividends. These will surely help investors and the industry embrace new opportunities and unleash their potential. Let me tell you how.Diversification dividend     First, Hong Kong is well poised to provide a diversification dividend with our unique geographical, functional, product and service offerings. All this ensures an excellent platform for diversification, supported by our “one country, two systems” advantages and our role as a financial “super connector” linking Mainland China and global markets. We offer abundant investment opportunities, a full suite of professional services and a top-notch regulatory framework.     In terms of investment opportunities, last year the AUM (assets under management) of Hong Kong’s asset and wealth management business reached about US$4 trillion (HK$31.193 trillion). What’s more, over half of the funds were sourced from international investors outside Hong Kong and the Mainland. In fact, in 2023, Hong Kong was the world’s second-largest cross-boundary wealth management centre, after Switzerland. Hong Kong is also Asia’s largest hedge fund hub and our private equity capital under management ranks second in Asia after the Mainland.     As China’s hub for offshore Renminbi (RMB) business, Hong Kong holds about one trillion in RMB deposits, and processes about 80 per cent of the global offshore RMB payments. We will continue to expand our RMB-denominated investment and risk-management products to suit users’ needs. For the wider financial market, we will also continue to diversify and deepen the products and services we offer, ranging from new fund structures to listing platforms.Mutual access     Mutual market access between the Mainland and Hong Kong continues to expand in scope and capacity. Up to August this year, the total turnover (including buy and sell trades) of northbound trading of Stock Connect reached about RMB20,000 billion, while that of southbound trading exceeded HK$5,600 billion. This demonstrates our pivotal role for international and Mainland enterprises as well as investors to raise funds and make investments.     The Hong Kong stock market has also seen many recent achievements. The average daily turnover of ETFs (exchange traded funds) listed in Hong Kong reached HK$11.8 billion in 2023, an increase of 20 per cent compared to 2022 (HK$9.8 billion). The derivatives market also saw the average daily trading volume of futures and options reaching 1.35 million contracts last year, further rising to over 1.5 million contracts in the first half of this year. This showcases Hong Kong’s ongoing development as an international risk management centre.     In April, the China Securities Regulatory Commission announced five new measures to support the development of Hong Kong’s financial sector. These include expanding the scope of ETFs under Stock Connect as implemented in July. The measures would also bring long-term structural enhancements to the Hong Kong market, such as including REITs (real estate investment trusts) under Stock Connect, further enriching the choice of products available.Green and sustainable finance     Meanwhile, sustainable development and technology are the emerging major forces shaping the financial industry. Demand for green finance is growing worldwide, as part of the global green transformation. Statistics show that the Asian region will require some US$66 trillion in climate investment over the next 30 years.     Zooming into Hong Kong’s green and sustainable finance market, the total green and sustainable debt (including both bonds and loans) issued in Hong Kong amounted to US$50 billion. Among which, the volume of green and sustainable bonds arranged in Hong Kong topped the Asian market, accounting for 37 per cent of the total share.        We will continue to develop Hong Kong into an international green technology and green finance centre through five key directions, namely building a green technology ecosystem; green finance application and innovation; green certification and alignment with international standards; training talents; and enhancing exchanges and co-operation with the Greater Bay Area and international markets.Virtual assets and fintech     Hong Kong is a prime destination for the development of digital finance and for fintech companies to establish or expand their business locally, regionally and globally. We are home to eight virtual banks, four virtual insurers and two licensed virtual assets trading platforms. There are also around 1 000 fintech companies operating in Hong Kong. They cover a variety of businesses including mobile payment, cross-border wealth management, AI (artificial intelligence) financial consultancy, wealth and investment management, regulatory technology and many more.     With the rapid development of the virtual asset market, Hong Kong issued the Policy Statement on Development of Virtual Assets in October 2022. We are also among the first jurisdictions to adopt a comprehensive framework to regulate virtual asset activities with robust investor protection.     Premising on a balance between appropriate regulation and market development, we will continue to provide an enabling environment and support measures. This will help to sustain the development of digital and decentralised finance, and facilitate responsible and healthy industry development. For example, we are actively establishing regulatory regimes for both stablecoin issuers and over-the-counter (OTC) trading of virtual assets. We will introduce the bill for regulating stablecoin issuers into the Legislative Council within this year. We are also reviewing the consultation feedback for virtual asset OTC trading to examine ways to improve the proposed regulatory framework.Succession dividend     Moving on to succession dividend, which is growing in prominence here. That’s because Hong Kong is home to over 2 700 single-family offices and 12 500 ultra-high-net-worth individuals. These figures speak of the city’s appeal for family offices and asset owners looking to diversify their asset portfolios and sustain family wealth for future generations.     Last year, we published the Policy Statement on Developing Family Office Businesses in Hong Kong. Since then, a series of measures have been implemented to create a favourable environment for wealth management and succession planning, adding to the already diverse investment opportunities available in the city.     To name a few, the profits tax exemption regime for single family offices’ eligible investments was introduced last year, to provide tax certainty and attract family offices to set up in Hong Kong. We also launched the New Capital Investment Entrant Scheme (CIES) in March this year, offering a clear pathway for asset owners to reside and pursue development in Hong Kong. The new scheme has been well-received by asset owners and talents outside Hong Kong. So far, we have received over 550 applications, potentially bringing HK$16.5 billion of capital to the city.     Besides attracting professionals, we are also committed to nurturing talents for the family office sector. Last year, we established the Hong Kong Academy for Wealth Legacy. The Academy not only provides training but also fosters collaboration, networking and knowledge-sharing between the industry and next-generation asset owners.     This brings me to a fast-emerging category of impact investing. We are working to foster charitable endeavours that would make a positive impact on society. The Academy will launch the “Impact Link” later this year. It will provide a repository platform to connect family offices and asset owners with high-potential and high-social impact charitable programmes. This will further enhance family offices’ engagement in charitable projects to create positive change and realise the full potential of philanthropy.     Art collections and investments are also gaining popularity among family offices, and Hong Kong is an ideal hub for this with our simple tax system and zero tariff on art trading. We are the second-biggest city for contemporary art sales after New York, recording US$414 million in the year 2022-23. By leveraging Hong Kong’s rich art and culture scene, we will continue to consolidate our position as a leading art exhibition and trading centre to create a dynamic ecosystem for art collection and investments for family offices and other investors.     Beyond creating a thriving family office ecosystem, we recognise that each family office has its unique needs and preferences. The dedicated family office team of Invest Hong Kong is here to offer one-stop support services specifically catered to the needs of each family office. Through key events such as the annual Wealth for Good in Hong Kong Summit, we will continue to deepen our connections with global family offices, supporting their evolving needs and garnering dividends from succession and legacy planning.Silver dividend     My third topic today is the silver dividend. Similar to many developed economies, Hong Kong faces the challenge of a rapidly ageing population. By 2046, over one-third of our population will be aged 65 or above. While this trend poses significant challenges, it also creates opportunities.     Among other things, an ageing population underscores the importance of accumulating sufficient savings to support post-retirement life. With this in mind, the Government launched the Mandatory Provident Fund (MPF) system back in 2000, to help our workforce save up for their retirement. As of June this year, our MPF system was managing a total of HK$1,230 billion of assets, representing an increase of about 126 per cent over the past 10 years. MPF investment with stable returns     Enabling the general public to feel and share the benefits brought about by the development of financial services has always been our goal. In recent years, our society, particularly among those who will soon retire, has clear aspirations for financial products that offer stable returns amid a changing economic environment. This is evident in the overwhelming response to the Silver Bond issuance last year – where the total application amount (around HK$71.7 billion) and the number of applications (323 789 valid applications) were at record highs.     Likewise, our MPF scheme members have similar aspirations. The Government and the Mandatory Provident Fund Schemes Authority (MPFA) persistently strive to widen the scope of permissible investments to improve risk-adjusted returns. For instance, in June 2022, the Central People’s Government, the People’s Bank of China, and the three Mainland policy banks were added to the list of “exempt authority” to facilitate MPF investment in sovereign bonds. It provides scheme members with greater access to one of the world’s largest bond markets. In June last year, we also put in place a mechanism to earmark a certain proportion of Government green bonds for priority investment by MPF funds.     These measures allow MPF fund managers to consider more investment instruments with stable returns in their portfolio management for the benefit of scheme members. As of June this year, MPF funds invested HK$8.3 billion and HK$600 million in sovereign bonds and government green bonds respectively, representing an increase of 159 per cent and 50 per cent respectively before the facilitative measures were put in place.Diversification and optimisation of MPF investment     We believe that our robust asset and wealth management industry is serving the MPF system well. It offers world-class investment management services along with a diverse range of financial products and innovative market arrangements.     In view of the growing internationalisation of the Mainland’s equity market, back in 2020, we included the Shanghai and Shenzhen stock exchanges in the list of “approved stock exchanges”, facilitating MPF investments into Mainland A-shares. Since the inclusion of the two stock exchanges, the exposure of MPF funds to Mainland A-shares has soared by 111 per cent to HK$24 billion as of June this year. Not only has this been welcomed by the market, it also provides more diversified investment opportunities for MPF assets.Fee reduction and eMPF Platform     Apart from offering a more diversified range of investment products for MPF scheme members, the Government and the MPFA are determined to explore and take forward more cost saving initiatives by leveraging innovation and technology. Launched in June this year, the eMPF Platform is a good example of how innovation and technology could resolve long-standing pain points in MPF scheme administration. They also create room for fee reductions for the ultimate benefit of scheme members.     We expect that the eMPF Platform will be fully implemented by end-2025. Through standardising, streamlining and automating different MPF administration processes, this first-of-its-kind centralised platform will significantly reduce the average MPF administration fee. This publicly funded digital infrastructure will also lower the entry barrier for newcomers to the MPF industry.   Closing     Ladies and gentlemen, I know you have a busy day ahead. So let me conclude by stressing the importance of joining hands in building, investing and enjoying the diversification dividend, succession dividend and silver dividend in Hong Kong. This forum is the perfect opportunity to share ideas and strengthen collaboration to achieve a more stable, sustainable and prosperous financial future in Hong Kong and far beyond.     I wish you all a rewarding forum today and the best of health and business. Thank you. 

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Murphy, Rojas Op-Ed For Hearst Connecticut: The Housing Crisis Is Holding Back CT

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    September 25, 2024

    HARTFORD–U.S. Senator Chris Murphy (D-Conn.) and Connecticut State Representative Jason Rojas (D-East Hartford) on Wednesday co-authored an op-ed for Hearst Connecticut arguing that Connecticut’s housing crisis requires all levels of government – local, state, and federal – to work together and take action. Murphy and Rojas lay out the scope of this nationwide problem that has acutely impacted people in Connecticut and propose a range of potential policy solutions to spur the construction of more affordable homes, help first-time home buyers, and drive down costs.
    “There is a housing crisis all across America today, but there’s no doubt the situation is especially dire in our state,” the members wrote. “A new report shows that Connecticut has one of the tightest rental markets in the country, with just a 3.5 percent vacancy rate. That kind of inventory shortage does two things. First, it drives up prices. Nationally, half of all renters have to set aside more than 30 percent of their paycheck each month for housing, but in Connecticut, nearly 500,000 of our citizens are spending more than 50 percent of their income on rent. Second, it makes it very hard for renters without good credit to find any landlord who will rent to them. At the end of last year, the number of people experiencing homelessness in Connecticut hit a record high. Homeownership — the core of the American dream — is also increasingly out of reach for the people we represent. Connecticut ranks 49th in the nation in new housing construction, and the slow pace of construction combined with high interest rates means it’s harder than ever for a young family to buy their first house.”
    Murphy and Rojas argued for more tax credits to build new affordable housing stocks – a proven policy incentive: “Vice President Kamala Harris has proposed a first-ever tax incentive for developers who build starter homes sold to first-time buyers and an expansion of existing tax credits to spur construction of more affordable rental housing. Combined these two policies could add 3 million new homes to the marketplace. We should also increase support for other existing, effective programs such as the HOME Investment Partnerships Program and National Housing Trust Fund that have been underfunded but are crucial in helping finance affordable housing projects. House Bill 5474, which passed both chambers of Connecticut’s legislature in May, encourages the development of duplexes, triplexes, and similar ‘middle’ housing, with the hope of increasing affordable housing stock. Public Act 23-207 created financial incentives for the development of workforce housing aimed at Connecticut’s middle class.”
    On getting more people into stable homes quickly, Murphy and Rojas urged greater investment in voucher programs, along with incentives to increase landlord participation and reduce waitlists: “The Choice in Affordable Housing Act would incentivize more landlords to participate in the Housing Choice Voucher Section 8 program through one-time incentive payments to landlords, security deposit payments, and bonuses to public housing agencies employing a landlord liaison. There’s no doubt we also need to increase our investment in voucher programs to get more people off waitlists and into homes. Connecticut currently boasts a waitlist of more than 6,700 applicants to its premier rental voucher program, the Rental Assistance Program (RAP), despite it not having been open for new applicants for over a decade. State and federal resources should be levied to tackle this crisis and move people into safe, stable homes.”
    On Connecticut’s zoning laws, Murphy and Rojas wrote: “But the reality is that no amount of incentives for developers or voucher programs can overcome Connecticut’s restrictive zoning laws. About 90 percent of the state is zoned for single-family housing. The federal government has a limited role in changing zoning rules, but the Yes In My Backyard (YIMBY) Act would encourage localities to eliminate discriminatory and burdensome zoning and land use policies to increase supply of affordable housing. It would also increase transparency around why a community is not adopting anti-discriminatory policies. The Majority Leaders’ Roundtable on Affordable Housing, a group comprised of interested legislators and subject-matter experts, has held meetings since 2023 and is working toward a solution that will loosen restrictions for developers while still preserving the character of Connecticut’s many unique towns.”
    They concluded: “Every community is different and there is no easy fix or one-size-fits-all solution for this crisis. It will require all levels of government to summon the political will and courage to engage in difficult conversations, pursue wholehearted reform, and make serious investments in affordable housing. We should be honest that sweeping progress won’t happen overnight. Driving down costs and completing construction takes time, but that makes our action — and partnership — all the more urgent.”
    Read the full op-ed HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Butler Applauds Key Committee Passage of Legislation to Strengthen Natural Disaster Preparedness

    US Senate News:

    Source: United States Senator for California – Laphonza Butler
    Washington, D.C. – Today, during National Preparedness Month, U.S. Senator Laphonza Butler (D-Calif.), a member of the Senate Homeland Security and Governmental Affairs Committee (HSGAC), secured passage of her Investing in Community Resilience Act of 2024 (S. 4900). This legislation is designed to incentivize investments in community resilience projects to alleviate damage from natural disasters. The bill passed out of committee overwhelmingly by a vote of 14-1.
    During today’s HSGAC markup, Senator Butler thanked Senator James Lankford (R-Okla.), Ranking Member of the Subcommittee of Government Operations and Border Management which holds jurisdiction over this issue, for his co-sponsorship and collaboration in advancing this legislation.
    “We are putting this forward because 4 in 10 Americans are now living in communities that have been impacted by climate disasters or natural disasters,” said Senator Butler. “This bill encourages FEMA to ensure that all communities are doing the work to support community-led preparedness initiatives, including by supporting Community Emergency Response Teams across the country.”
    The Investing in Community Resilience Act aims to reduce the financial burden of disasters on local communities, enhance individual and community preparedness, and promote participation in federally-supported resilience programs.
    S. 4900 would amend the Robert T. Stafford Disaster Relief and Emergency Assistance Act by expanding the types of pre-disaster resilience measures that FEMA may incentivize state or Tribal governments to adopt. FEMA may recognize such resilience investments through an increased federal cost-share from the standard 75% federal cost-share up to 85% for post-disaster public assistance restoration and repair projects and associated expenses.
    The Investing in Community Resilience Act has been endorsed by 73 organizations. See the full list of endorsing organizations HERE.
    Read the one-pager HERE.
    Read the full text of the bill HERE.

    MIL OSI USA News –

  • MIL-OSI Economics: Annual Meeting Opening Remarks by AIIB President

    Source: Asia Infrastructure Investment Bank

    Your Excellency Shavkat Mirziyoyev, President of the Republic of Uzbekistan,
    Distinguished Governors of the Asian Infrastructure Investment Bank, Honored Guests, Ladies and Gentlemen:

    Assalomu alaykum.

    It is my great honor to welcome you all to the Ninth Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank. On behalf of AIIB, I extend my deepest appreciation to the Republic of Uzbekistan for the gracious hospitality shown to the delegations for this Annual Meeting, the first in Central Asia.

    Your Excellency President Mirziyoyev, it is with the greatest of pleasure that AIIB has invited its Members to Uzbekistan to witness the accelerating prosperity that is gaining increasing momentum under your visionary leadership and ambitious reform agenda. Your historic visit to AIIB’s Headquarters in January this year was most significant for our bilateral relationship. With your Government’s ambitious program of nation building projects such as New Tashkent, major investments in transport, social infrastructure like hospitals and schools, and boundless potential in renewable energy, I look forward to AIIB doubling or even tripling its investment in Uzbekistan over the next 5 to 10 years.

    Distinguished Governors, we meet today at a storied center of cultural, economic and intellectual exchange. Standing at the crossroads of ancient trade routes, Samarkand’s rising prosperity began with the emergence of the Silk Road which wove across continents, tying Eurasia ever-tighter together.

    With free trade and cross border investment came a steady flow of new wealth, new ideas and new technology – stimulating scientific understanding of the world as it was then known. Underpinning this flourishing prosperity was connectivity: not just physical but, more importantly, intellectual and societal.

    Well-known are the underground ‘karez’ wells which nourished life in this dry climate, and the caravanserai that provided haven for intellectual exchange between travelers beyond commercial and business interests. Along these ancient arteries of infrastructure an intellectual lifeblood pulsed, circulating between nations of this region and spilling over into the wider world.

    It was only several hours from here that the father of algebra,

    Al-Khwarizmi, was born around 780. His ideas and writings spread to nations along the Silk Road, profoundly influencing the advance of mathematics in Europe. Indeed, his Latin name of Algoritmi is the root word for ‘algorithms’, the computations which energize today’s digital economy.

    Ladies and Gentlemen, the ancient Silk Road serves as an inspiration to us all. Such great intellectual achievements remind us that humanity is most productive, most innovative, and most prosperous when human minds meet and mingle. When people come into contact with each other, brilliant ideas sparkle.

    AIIB’s investments intend to bring regions together to ensure that global trade, technology and capital flows will continue without disruption. This helps us push the boundaries of human potential to still further distant areas. In an era of creeping geo-fragmentation, escalating climate chaos, and a hold-up in development, investing in infrastructure that connects Asia with the rest of the world is more important than ever.

    Since its inception nine years ago, AIIB has resolutely supported members amidst the rough-and-tumble of global events. Over this period, AIIB has approved financing to the tune of USD54.7 billion for 285 projects across 37 members. The development outcomes are multifold, and astounding. Our projects have connected people, 710 million strong, to urban mass transport and upgraded over 49,000 kilometers of transportation infrastructure. Thanks to our projects, there are 8.7 million people who now have access to safe drinking water. Less visibly but no less important, 22.8 million tons of CO2 emissions have been quietly averted annually.

    AIIB’s financing growth has been remarkable by historical standards. This is a great credit to the guidance to the Board of Governors and the Board of Directors. It is also a credit to the Bank’s management and staff, who deserve to be fully recognized and appreciated. Let us give them a big round of applause.

    AIIB’s funding position continues to be firmly based on triple-A ratings by all three major credit rating agencies. This year to date, the Bank has successfully issued bonds equivalent to USD 9 billion and AIIB bonds trade in line with MDB peers. Since 2022, the Bank’s administrative expenses have been fully covered by operating income. The Bank’s financial discipline strengthens its enduring ability to grow financial support for Members over time, complementing other measures under consideration from the MDB CAF review.

    Distinguished Governors, AIIB continues to double down on its client centric approach. In June this year, the structure of our investment operations was fine-tuned so as to streamline the Bank’s deployment of technical and financial expertise, and to heighten client relationships with a particular focus for private-sector financing and mobilization.

    AIIB has remained laser focused on developing financial tools which help members withstand shocks and enhance resilience. In June, Climate Policy-Based Financing (CPBF) was introduced to support Members’ efforts to improve the enabling environment for climate action, helping to mobilize private capital to push for national climate plans. The introduction of CPBF marks a new milestone in the Bank’s journey towards the achievement of the Sustainable Development Goals.

    This new initiative underscores our dedication to building resilient infrastructure for all, and our growing role in addressing global challenges. The Bank’s climate financing is expected to exceed 60% of its lending in 2024, well above the target of 50%.

    Excellencies: AIIB is truly a 21st century Bank. It is majority-owned by emerging and developing countries, follows the highest governance standards and relations between its governing bodies and clients are based on trust and client-centricity. This Bank is your Bank! AIIB’s most cherished principle is accountability. We in AIIB hold ourselves, each and every one of us, accountable for our decisions and actions. We adhere firmly to our most ardent vow made at the launch of the Bank’s operations that we will consistently live up to the expectations of our shareholders and stakeholders.

    Your Excellencies, distinguished guests, ladies and gentlemen: As we convene for our Ninth Annual Meeting, let us remember that we are building a future for generations to come. The theme of this Annual Meeting, “Building Resilient Infrastructure for All,” is not just a watchword, a call to action. It is the action! As we gather here along the ancient Silk Road, let us strive together to pave the path for sustainable development, regional and global integration, and prosperity for all.

    Thank you very much.

    MIL OSI Economics –

  • MIL-OSI Security: Principal Deputy Associate Attorney General Benjamin C. Mizer Delivers Remarks at the 2024 Hate Crimes Grantee Conference

    Source: United States Attorneys General 13

    Thank you, Liz Ryan, for that introduction and thank you also to Director Karhlton Moore and the Bureau of Justice Assistance for putting together this week’s conference. This inaugural conference has brought together grantees of the Justice Department’s hate crime grants, which includes law enforcement agencies, states, community-based organizations, and national civil rights organizations, for important discussions on best practices for investigating and prosecuting hate crimes, supporting victims of hate, and preventing hate crimes and hate incidents.

    I also want to take a moment to thank Houston Police Department Senior Officer Jamie Byrd-Grant, daughter of James Byrd Jr., and Judy and Dennis Shepard, the parents of Matthew Shepard, for being part of this week’s conference and for their strength and advocacy for so many years after the murder of their loved ones.

    I remember vividly when both of those heinous crimes were committed in 1998. I was almost exactly the same age as Matthew and, like him, was a young gay man living in a small college town. So Matthew’s murder in particular struck a fearful chord in me.

    But thanks to the Byrd and Shepard families’ commitment, and the advocacy of many people in this room, Congress passed, and President Obama signed, the Matthew Shepard and James Byrd Jr. Hate Crimes Prevention Act 15 years ago. That law gave the Justice Department some of the most important tools it has today.

    So we can both acknowledge how far we have come in the last 26 years but also recognize how much more needs to be done to make sure everyone feels safe in this country.

    The latest FBI hate crime statistics released on Monday demonstrate just how much work remains to do. There were a record number of hate crimes in 2023, and we know that hate crimes are underreported. Nearly 30% of all reported hate crimes were anti-Black or African American. Anti-Latino hate crimes increased from 2022, and there was a record number of hate crimes because of the victim’s sexual orientation. There were also a record number of anti-Arab and anti-Jewish hate crimes, with increases of 34% and 63% respectively, and anti-Muslim hate crimes increased by 49%. Yet the numbers alone do not tell the full story. Behind each of the 11,862 hate crimes is a tragic or traumatic story of intimidation and bigotry.

    Hate crimes instill fear in communities and undermine our democracy. The Justice Department has and will continue to use all the tools at our disposal to combat hate in this country.

    That includes prosecuting those who perpetrate these terrible crimes. Earlier this month, for example, the Justice Department charged two leaders of the Terrorgram Collective, a transnational terrorist group that operates on the digital messaging platform Telegram, where they promote a white supremacist ideology. Among other charges, the defendants are charged with soliciting users to commit hate crimes against those in the United States and abroad that they deemed to be enemies of the white race, with the goal of igniting a race war.

    But prosecutions are not the only tool available to us to help promote public safety. We also provide financial support to communities through grants to combat hate. Those grants go to a range of recipients, including state and local law enforcement and prosecution agencies, community-based organizations, and civil rights groups.

    I am thrilled to announce that this year, the Justice Department’s Office of Justice Programs is awarding close to $30 million to law enforcement agencies, states, community-based organizations, and national civil rights organizations to fight the rise in hate and bias crimes and incidents. Over the last four fiscal years, the Department has given over $100 million in anti-hate crime grants, a number that demonstrates our strong commitment to this work.

    Through the Matthew Shepard and James Byrd Jr. Hate Crimes Program, we are awarding nearly $12 million to local law enforcement agencies and prosecutors’ offices to investigate and prosecute hate crimes, as well as to collaborate with community partners on outreach and education to targeted communities.

    For example, the University of Colorado Boulder’s Police Department and Center for the Study and Prevention of Violence will launch a project across the University of Colorado system. That project will educate students, faculty, and community members about hate crime prevention and intervention and train campus officials on strategies for addressing hate crimes and hate-based incidents on campus.

    The 9th Circuit State Attorney’s Office in Orlando, Florida, will use its grant funds to establish an online complaint system for hate crimes to be reported, vetted, and referred to the proper law enforcement agency. It will also provide mediation where appropriate for non-violent hate crimes and provide trauma-informed mental health services to victims of hate crimes.

    Through the Community-based Approaches to Prevent and Address Hate Crime Program, the Department is also awarding more than $7.6 million to 11 different community-based and civil rights organizations. That money will fund projects dedicated to developing and implementing comprehensive hate crimes prevention and response strategies.

    For example, the Faith-Based Information Sharing and Analysis Organization will implement a hate crimes preparedness program for approximately 350,000 religious congregations to better prepare for and mitigate the threat from hate crimes and incidents. The No al Odio (or “No to Hate”) project will work with Hispanic communities in California to understand and report hate crimes through a comprehensive education and outreach strategy. And the Global Peace Foundation will use funds to work with Black and African immigrant populations in Maryland to train participants in conflict resolution and to build trust between diverse community members.

    To improve hate crime reporting and access to services for victims, the Department is awarding $1.1 million under the Jabara-Heyer NO HATE Act State-Run Hate Crime Reporting Hotlines. That funding, awarded to the Washington State Attorney General’s Office, will support the launch of its statewide hate crimes and bias incidents hotline by investing in partnerships with LGBTQI+, Latino, Black, immigrant, and refugee organizations.

    Both California and Illinois received hate crime reporting hotline grants in FY2022, and both states now have active hotlines for victims to report incidents in multiple languages, speak to trained professionals, and seek support and trauma-informed services.

    Also through Jabara-Heyer NO HATE Act funding, the Department is providing $2.5 million to its research and analysis project that evaluates FBI crime data and hate crime reporting patterns within and across states, as well the variation among state laws on hate crimes. The Department is also providing $650,000 to its project on NIBRS data and police service calls, with a focus on identifying hate crimes.

    And through the Emmett Till Cold Case Investigation and Prosecution Program, we are awarding $1 million to the Orleans Parish District Attorney’s Office (D.A.’s Office) to continue its work identifying, researching, and cataloguing Jim Crow cold case homicides, as well as unsolved homicides of LGBTQI+ victims, particularly those killed during the late 1970s.

    Through a previous grant under this program, the D.A.’s Office is investigating nearly 175 racial terror homicides in New Orleans and over 300 cases statewide.

    In addition to these grants, the Department is also combating hate by supporting resource centers. This includes the launch of a new Coordinated Hate Crimes Resource Center through a $2.7 million award to RTI and its subrecipients, the Eradicate Hate Global Summit and the International Association of Chiefs of Police. The Resource Center will serve as a hub for resources, training, and education, and it will support practitioners who are countering hate crimes and supporting victims in local, state, federal, and Tribal jurisdictions across the nation.

    Additionally, in June, through funding by the Department, the Shepard-Byrd Hate Crimes Training and Technical Assistance Program announced the launch of a website that provides resources for law enforcement, prosecutors, community groups, and the public on how to identify, investigate, prosecute, and prevent hate crimes, as well as on how to address the needs of victims and communities.

    We know that a key tool to combat hate and support victims of hate crimes and incidents is research. To that end, the Department is providing over $2.5 million in funding for three research projects to advance the understanding of law enforcement responses to hate crimes and the needs of survivors and survivor communities. The studies will generate new information to improve specialized law enforcement bias crime units, the use of LGTBQI+ liaison units to respond to anti-transgender hate crimes, and outcomes for survivors of hate crimes and their communities.

    This research will also lead to the development of recommendations and guidance to help practitioners and policymakers improve responses to hate crimes.

    In addition to these new grant awards, I am pleased to announce two new trainings. First, the Justice Department’s Office of Juvenile Justice and Delinquency Prevention is releasing a new Youth Hate Crimes and Identity-Based Bullying Prevention Curriculum, designed for middle and high school-aged youth and the teachers, counselors, and others who work with them.

    The curriculum was informed by 19 roundtable discussions with youth across seven states, along with pilot testing in many communities. It is designed to empower young people to change attitudes and behaviors and make them less likely to engage in or be victimized by hate crimes or bullying.

    The curriculum is also designed to educate adults who work with youth about the potential use of online technologies to break down cultural barriers and bias. The Department is dedicated to continuing to provide more resources to address hate crimes, bias incidents, and bullying among youth. You are going to hear more about the training from Director Ryan momentarily.

    Second, the Department’s Office of Community Oriented Policing Services (or the COPS Office) is launching a new training on investigating hate crimes. That training was developed in conjunction with the International Association of Chiefs of Police and other subject matter experts. It builds on the training the COPS Office released in 2022 on recognizing and reporting hate crimes aimed at line-level officers. Both trainings can be requested at no cost by state and local agencies.

    I have touched on the importance of the Justice Department’s prosecutions, grants, and trainings to combat hate. Another critical pillar to our work is our engagement with the communities we serve. The Department’s Community Relations Service (or CRS) is working with communities across the country who are victimized by hate crimes and hate incidents. Using facilitated dialogues and programs, CRS is in communities responding to threats of violence against community members because of who they are and where they are from.

    CRS is also involved in many of the United Against Hate Programs that the Justice Department launched in all 94 U.S. Attorneys’ Offices across the country. Those programs connect federal, state, and local law enforcement with communities to increase community understanding and reporting of hate crimes, build trust between communities and law enforcement, and create stronger alliances to prevent and combat hate crimes.

    Over the past two years, U.S. Attorneys’ Offices, in close partnership with FBI, CRS, and the Civil Rights Division, have held over 550 United Against Hate events nationwide with over 18,500 participants. Just yesterday, the U.S. Attorney’s Office for the Northern District of Alabama and the FBI Office here in Birmingham hosted a United Against Hate symposium at Alabama A&M University for students and faculty.

    As the many programs and tools I have mentioned today underscore, the Justice Department remains committed to combating and preventing hate crimes and incidents. The partnerships that we have built across the country and continue to build with everyone here this week are indispensable to that work. I am grateful to stand with you as we work together to reject bigotry used to justify hate-fueled threats and violence and attempts to divide us. We are stronger together. Every person deserves to feel safe in their communities, and we will continue to fight back against hate in all its forms.

    MIL Security OSI –

  • MIL-OSI New Zealand: Economy – Reserve Bank of New Zealand releases banking competition select committee submission

    Source: Reserve Bank of New Zealand – Te Pūtea Matua

    26 September 2024 – The Reserve Bank of New Zealand – Te Pūtea Matua supports efforts to improve competition in banking services, including in agricultural and business banking. Competition is a fundamental contributor to the efficiency of the financial system, supporting broader economic prosperity and well-being.

    Our submission to Parliament’s Finance and Expenditure Committee Inquiry into Banking Competition, published today, outlines the RBNZ’s financial stability mandate, and highlights areas where we can support competition in the banking sector.

    We agree with the Commerce Commission’s problem definition that a more competitive banking market is desirable, Deputy Governor Christian Hawkesby says.

    “The Deposit Takers Act that passed in 2023 requires us to take into account competition, and we are doing so by ensuring we take a proportionate approach to regulation while focusing on managing the biggest risks to banks and the financial system.”

    “We keep our rules and standards under review to ensure they can best deliver on our mandate. This includes striking the right balance between stability and competition. An example of this is our active consideration on how we can progress the recommendations for the Reserve Bank from the Commerce Commission’s market study into personal banking services,” Mr Hawkesby says

    “Competition is also relevant to our other roles as a central bank, including our stewardship of the money and cash system. We are currently reviewing the access policy for our inter-bank settlement system, and investigating the potential role digital cash could play in supporting innovation in the financial system. Together with our co-regulators and industry, are working to improve Māori access to capital and basic bank accounts.”

    The submission also details the Reserve Bank’s approach to setting capital requirements for different types of bank lending. These requirements are an essential tool to promote banks’ financial resilience. Capital is the funding of a bank from its owners, and acts as the buffer protecting creditors such as depositors from losses.  

    Our framework is based on matching the level of capital required with the underlying risk of a bank’s lending through the use of risk weights. This is consistent with global practice. We have published a new RBNZ Bulletin article alongside our submission that analyses how risk weights affect bank lending. The Bulletin highlights domestic and international evidence showing the impact of risk weights on the availability and pricing of loans is low compared to other factors.

    “The Commerce Commission’s market study highlighted high levels of customer inertia as a key barrier to competition. Efforts to reduce real and perceived barriers to switching banks and supporting innovation through open banking is key to promoting competition,” Mr Hawkesby says.

    More information

    Submission on Finance and Expenditure Select Committee Inquiry into banking competition (PDF, 378KB) https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=4d1c93a0a3&e=f3c68946f8
    Reserve Bank Bulletin: How risk weights affect bank lending  https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=651ca9ee10&e=f3c68946f8
    Parliament Select Committee Inquiry into Banking Competition https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=e6c8d5275e&e=f3c68946f8
    Keynote speech by Deputy Governor Christian Hawkesby: Resilience as a pathway to prosperity https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=b05e115364&e=f3c68946f8
    RBNZ Submission on Personal banking services market study: Draft report (PDF, 355KB) https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=1163a8498b&e=f3c68946f8

    MIL OSI New Zealand News –

  • MIL-OSI Economics: Money Market Operations as on September 25, 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) 558,492.52 6.55 5.10-6.85
         I. Call Money 10,906.90 6.68 5.10-6.80
         II. Triparty Repo 383,880.85 6.49 6.24-6.65
         III. Market Repo 162,306.77 6.67 5.50-6.85
         IV. Repo in Corporate Bond 1,398.00 6.80 6.80-6.85
    B. Term Segment      
         I. Notice Money** 176.75 6.54 6.00-7.00
         II. Term Money@@ 526.00 – 6.95-7.50
         III. Triparty Repo 5,217.85 6.59 6.50-6.75
         IV. Market Repo 473.26 6.66 6.66-6.66
         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# Wed, 25/09/2024 1 Thu, 26/09/2024 5,549.00 6.75
    4. SDFΔ# Wed, 25/09/2024 1 Thu, 26/09/2024 83,582.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -78,033.00  
    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 Tue, 24/09/2024 2 Thu, 26/09/2024 50,003.00 6.62
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 27/09/2021 1095 Thu, 26/09/2024 600.00 4.00
    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 (-)]*     87,990.66  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     9,957.66  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on September 25, 2024 1,004,354.64  
         (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 25, 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: 2024-2025/1159

    MIL OSI Economics –

  • MIL-OSI: ARBOR REALTY SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Arbor Realty Trust, Inc. – ABR

    Source: GlobeNewswire (MIL-OSI)

    NEW ORLEANS, Sept. 25, 2024 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until September 30, 2024 to file lead plaintiff applications in a securities class action lawsuit against Arbor Realty Trust, Inc. (“ABR” or the “Company”) (NYSE: ABR), if they purchased the Company’s securities between May 7, 2021 and July 11, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of New York.

    Get Help

    Arbor Realty investors should visit us at https://claimsfiler.com/cases/nyse-abr/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

    About the Lawsuit

    Arbor Realty and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

    On March 14, 2023, NINGI Research reported that “ABR has been hiding a toxic real estate portfolio of mobile homes with a complex web of real and fake holdings companies for more than a decade.” On this news, the price of ABR shares fell from $12.99 per share on March 13, 2023, to $12.12 per share on March 14, 2023, and then $11.53 per share on March 15, 2023. Then, on July 12, 2024, Bloomberg reported that the Company was the subject of a probe by federal prosecutors and the Federal Bureau of Investigation in New York that were “inquiring about lending practices and the company’s claims about the performance of their loan book.” On this news, the price of ABR shares fell from $15.53 per share on July 11, 2024, to $12.89 per share on July 12, 2024.

    The case is Martin v. Arbor Realty Trust, Inc., No. 24-cv-05347.

    About ClaimsFiler

    ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

    To learn more about ClaimsFiler, visit http://www.claimsfiler.com.

    The MIL Network –

  • MIL-OSI USA: Department of Defense and U.S. Small Business Administration Announce First Licensed and Green Light Approved Funds for the Small Business Investment Company Critical Technology Initiative

    Source: United States Department of Defense

    The Department of Defense (DoD) and the U.S. Small Business Administration (SBA) today announced the first group of Small Business Investment Company (SBIC) Licensees and Green Light Approved investment funds approved under the Small Business Investment Company Critical Technology Initiative (SBICCT Initiative). This first group collectively plans to invest over $2.8 billion into over 1,000 portfolio companies.

    The SBICCT Initiative’s primary objective is to attract and scale private investment into technology areas critical to economic and national security. Funds licensed under the SBICCT Initiative are eligible for access to SBA guaranteed loans designed to enhance fund-level investment returns. Each fund can access up to $175 million in loans which can be accessed through the new Accrual Debenture, which aligns with the cash flows of longer duration and equity-oriented investment strategies and may also be accessed through the longstanding SBA Standard Debentures that aligns to credit strategies. DoD also provides Program Related Initiatives intended to drive value in the implementation of the Licensee’s respective investment strategies.

    The SBICCT Initiative was announced by Secretary of Defense Lloyd Austin and SBA Administrator Isabel Casillas Guzman in December 2022. Through this first-of-its-kind partnership, DoD’s Office of Strategic Capital (OSC) and SBA’s Office of Investment and Innovation (OII) aim to increase private investment in critical technologies, including component-level technologies and production processes vital to U.S. economic and national security interests.

    “This first group of SBICCT Initiative funds represents a consequential milestone in demonstrating the power of public-private partnerships to build enduring advantage by growing and modernizing our supply chains, strengthening our economic and national security, and benefiting the development and commercialization of critical technologies that are key drivers of our U.S. industrial base,” said Heidi Shyu, Under Secretary of Defense for Research and Engineering. “I am proud of the collaborative work between OSC and our SBA OII colleagues to stand up and advance this important program.”

    These investment funds, as well as representatives of the SBA and DoD and investment industry advisors, gathered today at the Hall of Heroes at the Pentagon to celebrate this accomplishment.

    “SBA and DoD entered into this historic initiative to ensure America maintains its global competitive edge,” said SBA Administrator Isabella Casillas Guzman. “Today we are proud to recognize the early results of our Agencies’ collaboration and partnership with the U.S. investment community to fill capital access gaps vital to our national and economic security.”

    The SBICCT Initiative formally launched and began accepting SBIC applications in fall 2023. In early July 2024, the SBA granted the first SBICCT Initiative license. Just three months later, as of October 22, 2024, after taking the significant step to submit a formal application and undergo the rigorous underwriting and due diligence process, 4 funds are Licensed and 9 are Green Light Approved by SBA to raise private capital.

    These 13 funds, taken along with the other investment funds nearing the end of the diligence process, collectively project to invest over $4 billion in nearly 1700 portfolio companies focused on all 14 DoD Critical Technology Areas and component-level technologies and production processes. In addition, these funds plan to invest across asset classes including seed, venture, growth, buyout, direct lending, special situations, and fund-of-funds.

    Interest in the SBICCT Initiative continues to grow, as over 100 funds have expressed interest in the Initiative. Additional applications are expected in future quarterly filing windows. The next filing deadline is November 15, 2024. For more information on the SBICCT Initiative and the application process, please see the Investment Policy Statement here.

    About the Office of Strategic Capital

    Established by Secretary of Defense Lloyd J. Austin III in December 2022, the Office of Strategic Capital has a mission to attract and scale private capital for national and economic security priorities. Follow the work of the Office of Strategic Capital at https://www.osc.mil.

    MIL OSI USA News –

  • MIL-OSI USA: VIDEO: Grassley Presses USDA to Act Now to Protect U.S. Farmland

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley

    WASHINGTON – Sen. Chuck Grassley (R-Iowa), a lifelong family farmer and a Senate Agriculture Committee member, is urging the Department of Agriculture (USDA) to share with key national security agencies its data on foreign-owned farmland.  

    “USDA is sitting on a treasure trove of data that federal partners could use to help protect American farmers.”

    Download video HERE.

    In a letter to Agriculture Secretary Tom Vilsack, Grassley notes the Agricultural Foreign Investment Disclosure Act of 1978 – which he cosponsored as a member of the House of Representatives – requires USDA to “collect, track and report reliable data on foreign investments in U.S. agricultural land.” To enhance transparency and curtail malign foreign investments, the Government Accountability Office (GAO) issued a January 2024 report recommending USDA share this data with the Committee on Foreign Investment in the United States (CFIUS) in a more timely fashion. While USDA agreed with GAO’s recommendations, it has yet to take the necessary steps to address GAO’s guidance and improve its data sharing standards. 

    “It is crucial that USDA continue to improve its processes for collecting, tracking, and reporting data on foreign ownership and investment in U.S. agricultural land. Further, it is essential that USDA provide CFIUS and its member agencies with access to timely and detailed information on these transactions to ensure that all potential national security risks receive a thorough review,” Grassley wrote to Vilsack.   

    Read Grassley’s full letter HERE. 

    Learn more about Grassley’s work to protect American farmland through his:

    -30-

    MIL OSI USA News –

  • MIL-OSI USA: Attorney General James’ Office of Special Investigation Releases Report on Death of Daniel Legler

    Source: US State of New York

    NEW YORK – New York Attorney General Letitia James’ Office of Special Investigation (OSI) today released its report on the death of Daniel Legler, who died on August 6, 2023 after an encounter with a member of the New York State Police (NYSP) in Monroe County. Following a thorough investigation, which included review of body-worn camera footage, interviews with the involved trooper and a witness, and comprehensive legal analysis, OSI concluded that a prosecutor would not be able to disprove beyond a reasonable doubt at trial that the trooper’s actions were justified under New York law.

    At approximately 9:24 p.m. on August 6, a NYSP trooper was pursuing a vehicle traveling westbound on Interstate 490 in Rochester after the driver of the vehicle, Mr. Legler, refused to comply with an attempted traffic stop. Mr. Legler was driving on the left shoulder of the highway to pass other cars, and at some points, his speed appeared to reach up to or over 100 MPH, almost 50 MPH over the speed limit.

    Later in the pursuit, Mr. Legler exited the highway at the exit for the Rochester Tech Park in Gates, which involves a sharp turn. Mr. Legler’s vehicle struck a guardrail and then hit a curb on the median near the intersection of Harek Road and Les Harrison Drive West, becoming airborne before landing in a nearby field. The trooper exited his vehicle and commanded Mr. Legler remain in his vehicle, but Mr. Legler did not comply. Once out of the car, Mr. Legler began reaching around his waistband and moved to the other side of the car, prompting the trooper to command him to show his hands. Mr. Legler again refused to comply. 

    The trooper asked Mr. Legler to turn around to be placed under arrest. Mr. Legler then stumbled backward to the ground and a physical struggle ensued as the trooper attempted to place Mr. Legler in handcuffs. During the struggle, the trooper heard a shot fired and backed away from Mr. Legler. The trooper then saw a gun in Mr. Legler’s hand and discharged his service weapon in response. The trooper commanded Mr. Legler to remain on the ground, but Mr. Legler attempted to stand up and the trooper discharged his service weapon, striking Mr. Legler. Mr. Legler was pronounced dead at the scene. Officers recovered a gun at the scene.

    Under New York’s justification law, a police officer may use deadly physical force when the officer reasonably believes it to be necessary to defend against the use of deadly physical force by another. In this case, the trooper heard a shot ring out and saw a gun in Mr. Legler’s hand. Under these circumstances, given the law and the evidence, a prosecutor would not be able to disprove beyond a reasonable doubt at trial that the trooper’s use of deadly physical force against Mr. Legler was justified, and therefore OSI determined that criminal charges should not be pursued in this matter.

    MIL OSI USA News –

  • MIL-OSI: On the Heels of Inflation, Why Experts Expect Gold Prices Will Climb to Record Highs in 2025

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Sept. 25, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Gold prices are forecast to climb to record highs in the coming year. The price of gold has soared to new heights this year and is positioned to climb into early 2025, rising to new record highs, according to Goldman Sachs Research. The precious metal has increased more than 20% this year, peaking at a record of more than $2,500 per troy ounce. Goldman Sachs Research forecasts the price will reach $2,700 by early next year, buoyed by interest rate cuts by the Federal Reserve and gold purchases by emerging market central banks. The metal could get an additional boost if the US imposes new financial sanctions or if concerns mount about the US debt burden. They see that Gold prices are forecast to climb to record high. Goldman Sachs says that: “Gold is our strategists’ preferred near-term long (the commodity they most expect to go up in the short term), and it’s also their preferred hedge against geopolitical and financial risks. In this softer cyclical environment, gold stands out as the commodity where we have the highest confidence in near-term upside,” Goldman Sachs Research strategists Samantha Dart and Lina Thomas write. Active Mining Companies in the markets today include Asia Broadband Inc. (OTCPK: AABB), Equinox Gold Corp. (NYSE American: EQX), Kinross Gold Corporation (NYSE: KGC), Barrick Gold Corporation (NYSE: GOLD), IAMGOLD Corporation (NYSE: IAG).

    In an additional article, Goldman Sachs added: “The yellow metal typically only guards against very high inflation and large inflation surprises caused by losses in central bank credibility and geopolitical supply shocks. Gold usually didn’t perform well in response to positive demand shocks when the central bank responded swiftly by hiking rates. Gold emerged as the best commodity to serve as a potential hedge against inflation and geo-political risks. Goldman Sachs Research’s base case is that gold appreciates to $2,700/troy ounce by year-end, an increase of about 16%, on solid demand from central banks in emerging markets and from Asian households. Gold could help shield against potential stock market drops if a trade war erupts, and it has upside if concerns mount about the US debt load or if the Fed is subordinated by a new administration.”

    Asia Broadband Inc. (OTCPK: AABB) Gold Production Continues Upward Trend For Third Quarter, As Ore Stockpile Processing Plant Advances Towards Completion – Asia Broadband Inc. (“AABB” or the “Company) is pleased to announce that the Company’s operations for the 3rd quarter ending September 30, 2024, will be completed next week and production levels have already surpassed the second quarter. The Company has exceeded its production and gross profit levels achieved in both the 1st and 2nd consecutive record quarters this year. Gold production more than doubled in the 1st quarter of 2024, in comparison to the 4th quarter of 2023, due to higher grade selection, recovery efficiencies and increased daily throughput levels. Additionally, the economies of scale from higher productions levels reduced production costs and added to the bottom-line gross profit, which has continued in an upward trend over the last three quarters.

    The elevated operational strategies and efficiencies of the AABB mining team continued in the 3rd quarter and has firmly established the foundation for the high production levels to follow the completion of the Company’s processing plant. The new facility is currently under construction in Etzatlan, Mexico, and its capacity will be primarily dedicated to processing the estimated $1 billion dollar ore value of the Company’s exclusive rights surface stockpile. AABB continues to develop the processing plant and will release updates as progress milestones are reached. The Company will release a processing plant project update in October.

    “The elevation of our production processes by the mining operations team in all three quarters of this year will have a multiplier effect with increased production levels. We are eagerly awaiting to extend this expertise to our massive ore stockpile processing when the new plant is complete. This will take us to a much higher level than we have ever reached before,” expressed Chris Torres, the Company President and CEO.

    AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success. CONTINUED… Read this full release for Asia Broadband at: https://www.financialnewsmedia.com/news-aabb/

    Other recent developments in the mining industry include:

    Barrick Gold Corporation (NYSE: GOLD) recently said it is projecting a 30% growth in the production of gold-equivalent ounces from its existing assets by the end of this decade while it continues to unlock the value embedded in its portfolio, says president and chief executive Mark Bristow.

    Speaking at the Gold Forum Americas, Bristow said while Barrick was alert to potentially value-accretive opportunities generated by the consolidation of the industry, it had the rare luxury of doing so from an asset base that would support organic growth well into the future.

    “Five years ago, we set out to build a sustainably profitable gold and copper business focused on world-class assets. We did not have to buy them at a premium: they were embedded in the merged portfolio of Barrick and Randgold and we just had to unlock their value,” he said.

    Kinross Gold Corporation (NYSE: KGC) recently provided an update on the Great Bear project (the “Project”), located in Red Lake, Ontario, Canada. Kinross has completed a Preliminary Economic Assessment (PEA) for the Great Bear project which supports the Company’s acquisition thesis of a top tier high-margin operation in a stable jurisdiction with strong infrastructure. Based on mineral resources drilled to date, the PEA outlines a high-grade combined open pit and underground mine with an initial planned mine life of approximately 12 years and production cost of sales of $594 per ounce. The Project is expected to produce over 500,000 ounces per year at an all-in sustaining cost (AISC) of approximately $800 per ounce during the first 8 years through a conventional, modest capital 10,000 tonne per day (tpd) mill.

    Kinross has also released an updated mineral resource estimate increasing the inferred resource estimate by 568koz. to 3.884 Moz. which is in addition to the existing M&I resource estimate of 2.738 Moz. The mineral resource estimate and PEA for the Great Bear project are available here.

    Equinox Gold Corp. (NYSE American: EQX) recently announced an updated Mineral Resource Estimate (“MRE”) for its 100% owned, exploration-stage Hasaga Property (“Hasaga” or the “Property”) in Red Lake, Ontario.

    “Hasaga is located in the Red Lake Gold District of northwestern Ontario, which is renowned for its high gold grades and prolific historical gold production. This updated Mineral Resource Estimate focuses on the high-grade nature of the gold mineralization and is a departure from the previous bulk-tonnage approach,” stated Scott Heffernan, EVP Exploration of Equinox Gold. “As expected, the updated Mineral Resource Estimate contains fewer gold ounces but at significantly higher average gold grades.

    “Further, the main zones of gold mineralization included in the updated Mineral Resource Estimate remain open, with numerous historical gold intersections defining drill-ready targets highlighting the potential for resource growth and new discoveries.”

    IAMGOLD Corporation (NYSE: IAG) recently announced that the Côté Gold Mine (“Côté Gold” or “Côté”) has reached commercial production. Côté Gold is located in Ontario, Canada and is operated as a joint venture between IAMGOLD, as the operator, and Sumitomo Metal Mining Co., Ltd. (“Sumitomo”). Commercial production is defined as the achievement of reaching a minimum of 30 consecutive days of operations during which the mill operated at an average of 60% of nameplate throughput of 36,000 tpd.

    “I would like to commend our teams at Côté Gold who have come together to achieve another great milestone as we progress and ramp up what we believe will be one of Canada’s largest gold mines and a model for modern mining in Canada,” said Renaud Adams, President and Chief Executive Officer of IAMGOLD. “Since achieving the first pour of gold on March 31, 2024, our teams have spent the last four months methodically and iteratively testing and ramping up all facets of the mine. This process has required remarkable commitment, ingenuity and teamwork to bring all the systems online together to achieve this milestone.”

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

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    DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty five hundred dollars for news coverage of the current press releases issued by Asia Broadband Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

    Contact Information:

    Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

    SOURCE: FN Media Group

    The MIL Network –