NewzIntel.com

Category: Internet

  • MIL-OSI Security: RCMP Headquarters — PEI RCMP’s response to mental health matters

    Source: Royal Canadian Mounted Police

    The Prince Edward Island RCMP recognize the important role police play in responding to mental health crises. PEI RCMP responded to 1169 mental health calls and 636 wellbeing checks last year. These represent a diverse number of complaints from those who present extreme danger to themselves and others, to situations where individuals simply need to be connected with help. Wellbeing checks are instances where someone is concerned for someone else’s well being, for example a family member concerned that they have not seen their loved one for some time, or there has been a change in their loved one’s behaviour. Wellbeing checks listed here are only those instances that have been determined to not be mental health related.

    RCMP take a de-escalation approach in dealing with mental health calls, while balancing public safety. The goal is always to bring the best possible outcomes for all those involved. In some of these cases those in crisis present a danger to themselves, healthcare workers and others; it is for this reason that police are often at the front line when responding to these situations.

    RCMP Training:

    Our goal is to bring about a peaceful, safe resolution and we train to achieve this goal. Almost all the officers with PEI RCMP have taken Crisis Intervention and De-escalation training. This course specifically trains officers to deal with mental health crisis incidents. Officers re-qualify on scenario-based training on an annual basis, these scenarios include Mental Health Crisis simulations and serve to reinforce the skills they have learned. In addition, officers have been trained with Road to Mental Readiness, ASIST (Applied Suicide Intervention Skills Training), Resolving Conflict Effectively, Cultural Awareness and Humility training, Interest Based Negotiation, Understanding and Responding to Mental Illness, and many other continuous learning and developmental opportunities.

    Resources:

    We work with our partners including Mobile Mental Health, and other health care providers to connect those in crisis with the appropriate resources that may support them. PEI RCMP recognize that in most cases mental health incidents are not criminal in nature and our role is to ensure the safety of any health care provider, patient and the public while those in crisis access the health care resources they need.

    PEI RCMP currently maintain a Police Mental Health Liaison. This position helps improve engagement with partner agencies under the Social Services umbrella, with a particular focus on Mobile Mental Health and BRIDGE. BRIDGE is a group of support agencies across PEI that meet regularly to coordinate help for those at high risk.

    RCMP officers across the Province carry the 40mm Extended Range Impact Weapon, a less lethal intervention option. This weapon looks and sounds like a Firearm, but it fires a foam projectile. Its recent use proved it is a very useful tool for police in bringing about a safe less-lethal resolution to dangerous incidents, without having to resort to the use of potentially lethal force.

    RCMP JURISDICTION MENTAL HEALTH OCCURRENCES

    1. (Jan 1 – Oct 8th) = 788

    2023 = 1169

    2022 = 991

    2021 = 904

    WELLNESS CHECKS

    2024 Wellbeing checks (Jan 1 – Oct 8th) = 664

    2023 Wellbeing checks = 618

    PEI RCMP recognize the role police play in assisting with mental health calls. Training our personnel to respond in ways that will achieve the best possible outcomes for all involved has been, and will continue to remain a priority. As we engage with all those agencies and organizations involved in supporting mental health, we look to learn and stay current with the best practices available that will support those facing mental health issues. The safety of all Islanders is the top priority for all police agencies, regardless of any challenges individuals may face.

    “Your PEI RCMP works with community partners and health professionals to ensure those that are in a mental health crisis are dealt with compassion and respect, while maintaining the safety of our communities, police officers, and the clients. We have demonstrated here on the island that we utilize de-escalation and all tools available to bring safe and successful conclusions to our interactions with the public. Due to the unpredictability of mental health incidents, safety of everyone involved is first and foremost”, said Chief Superintendent Kevin Lewis.

    MIL Security OSI –

  • MIL-OSI: TC Energy announces pricing of cash tender offers for certain Canadian-dollar denominated debt securities

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES (SEE “OFFER AND DISTRIBUTION RESTRICTIONS” BELOW).

    CALGARY, Alberta, Oct. 09, 2024 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX, NYSE: TRP) (“TC Energy”) today announced that TransCanada PipeLines Limited (the “Company”), a wholly-owned subsidiary of TC Energy, has released the pricing terms of its previously announced separate offers (the “Offers”) to purchase for cash up to C$575,000,000 in aggregate principal amount of its 4.180% Senior Notes due 2048 (the “2048 Notes”) and its 3.390% Senior Notes due 2028 (the “2028 Notes”, and together with the 2048 Notes, the “Notes”).

    The Offers

    The Offers were made upon the terms and subject to the conditions set forth in the Offer to Purchase dated Oct. 1, 2024 relating to the Notes (the “Offer to Purchase”). Capitalized terms used but not defined in this news release have the meanings given to them in the Offer to Purchase.

    The table below sets out the aggregate principal amount of 2048 Notes accepted for purchase, the Offer Yield and the Total Consideration in respect of the 2048 Notes validly tendered and accepted for purchase pursuant to the Offer for such Notes. The Company has not accepted for purchase any of the 2028 Notes tendered into the Offer for such Notes.

    Title of Notes(1) Principal
    Amount 
    Outstanding    		 CUSIP / ISIN
    Nos.     (1)    		 Reference 
    Security    		 Bloomberg 
    Reference
    Page    		 Offer
    Yield    		 Fixed
    Spread
    (Basis
    Points)    		 Total
    Consideration    (2)    		 Principal
    Amount
    Accepted    (3)
    4.180% Senior Notes due 2048 C$1,100,000,000 89353ZCC0 / CA89353ZCC01 CAN 2 ¾ 12/01/55 FIT CAN0-50 4.970% 160 C$890.60 C$575,000,000
                     
    (1) No representation is made by TC Energy or the Company as to the correctness or accuracy of the CUSIP number or ISIN listed in this news release or printed on the 2048 Notes. They are provided solely for convenience.
       
    (2) Per C$1,000 principal amount of 2048 Notes validly tendered, and not validly withdrawn, at or prior to the Expiration Date and accepted for purchase; excludes the Accrued Coupon Payment.
       
    (3) Rounded figure of aggregate principal amount. The actual aggregate principal amount of 2048 Notes accepted for purchase may be adjusted for rounding due to proration.
       

    Settlement

    Payment of Total Consideration for 2048 Notes accepted for purchase will be made by the Company on the Settlement Date, which is expected to occur on Oct. 15, 2024. In addition to the Total Consideration, Holders whose 2048 Notes are accepted for purchase will receive a cash payment equal to the Accrued Coupon Payment, representing accrued and unpaid interest on such 2048 Notes from and including the immediately preceding interest payment date for such 2048 Notes to, but excluding, the Settlement Date. Holders whose 2048 Notes are accepted for purchase will lose all rights as Holder of the tendered 2048 Notes and interest will cease to accrue on the Settlement Date for all 2048 Notes accepted in the Offers.

    Following consummation of the Offers, any 2048 Notes that are purchased in the Offers will be retired and cancelled and no longer remain outstanding. All Notes not accepted for purchase by the Company or not purchased due to proration will be returned without cost to the tendering Holders.

    Upon completion of the Offers, there will be approximately C$525,000,000 aggregate principal amount of the 2048 Notes outstanding.

    The Offers are subject to the satisfaction of certain conditions as described in the Offer to Purchase. The Company reserves the right, subject to applicable law, to waive any and all conditions to any Offer. If any of the conditions is not satisfied, the Company is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered Notes, in each event subject to applicable laws, and may terminate or alter any or all of the Offers.

    Deutsche Bank Securities Inc. (“Deutsche Bank”), J.P. Morgan Securities Canada Inc. (“JPM”), Morgan Stanley Canada Limited (“MS”) and RBC Dominion Securities Inc. (“RBC”) are acting as the dealer managers (the “Dealer Managers”) for the Offers. Questions regarding the terms and conditions for the Offers or for copies of the Offer to Purchase should be directed to JPM at 1.403.532.2126, MS at 1.416.943.8400 or RBC at 1.877.381.2099 (toll-free) or 1.416.842.6311 (collect). Deutsche Bank is not registered as a dealer in any Canadian jurisdiction and, accordingly, neither it nor any of its affiliates will, directly or indirectly, advertise, solicit, facilitate, negotiate, effect or take any other act in furtherance of any purchase or tender of Notes in connection with the Offers and any such solicitation, advertisement or other act with respect to the Offers will be conducted by JPM, MS and RBC. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers.

    TSX Trust Company is acting as the Tender Agent for the Offers.

    If the Company terminates any Offer with respect to one or more series of Notes, it will give prompt notice to the Tender Agent, and all Notes tendered pursuant to such terminated Offer will be returned promptly to the tendering Holders thereof. With effect from such termination, any Notes blocked in CDS will be released.

    Offer and Distribution Restrictions

    The Offers were made solely pursuant to the Offer to Purchase. This news release does not constitute a solicitation of an offer to buy any securities in the United States. No Offer constitutes an offer or an invitation by, or on behalf of, TC Energy, the Company or the Dealer Managers (i) to participate in the Offers in the United States; (ii) to, or for the account or benefit of, any “U.S. person” (as such term is defined in Regulation S of the U.S. Securities Act of 1933, as amended); or (iii) to participate in the Offers in any jurisdiction in which it is unlawful to make such an offer or solicitation in such jurisdiction, and such persons are not eligible to participate in or tender any securities pursuant to the Offers. No action has been or will be taken in the United States or any other jurisdiction that would permit the possession, circulation or distribution of this news release, the Offer to Purchase or any other offering material or advertisements in connection with the Offers to (i) any person in the United States; (ii) any U.S. person; (iii) anyone in any other jurisdiction in which such offer or solicitation is not authorized; or (iv) any person to whom it is unlawful to make such offer or solicitation. Accordingly, neither this news release, the Offer to Purchase nor any other offering material or advertisements in connection with the Offers may be distributed or published, in or from the United States or any such other jurisdiction (except in compliance with any applicable rules or regulations of such other jurisdiction). Tenders will not be accepted from any holder located or resident in the United States.

    In any jurisdiction in which the securities laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to have been made on behalf of the Company by the Dealer Managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

    This news release is for informational purposes only. This news release is not an offer to purchase or a solicitation of an offer to sell any Notes or any other securities of TC Energy, the Company or any of their subsidiaries.

    Forward-Looking Statements

    This news release contains certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as “forward-looking statements”). Forward-looking statements include: statements regarding the terms and timing for completion of the Offers, including the acceptance for purchase of any Notes validly tendered and the expected Settlement Date thereof; and the satisfaction or waiver of certain conditions of the Offers.

    Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of TC Energy to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that may cause actual results to vary include, but are not limited to, conditions in financial markets, investor response to the Offers, and other risk factors as detailed from time to time in TC Energy’s reports filed with Canadian securities administrators and the U.S. Securities and Exchange Commission.

    Readers are cautioned against unduly relying on forward-looking statements. Forward-looking statements are made as of the date of the relevant document and, except as required by law, TC Energy undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise.

    About TC Energy

    We’re a team of 7,000+ energy problem solvers working to safely move, generate and store the energy North America relies on. Today, we’re delivering solutions to the world’s toughest energy challenges – from innovating to deliver the natural gas that feeds LNG to global markets, to working to reduce emissions from our assets, to partnering with our neighbours, customers and governments to build the energy system of the future. It’s all part of how we continue to deliver sustainable returns for our investors and create value for communities.

    TC Energy’s common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at TCEnergy.com.

    -30-

    Media Inquiries:
    Media Relations
    media@tcenergy.com
    403-920-7859 or 800-608-7859

    Investor & Analyst Inquiries:
    Gavin Wylie / Hunter Mau
    investor_relations@tcenergy.com
    403-920-7911 or 800-361-6522

    PDF available: http://ml.globenewswire.com/Resource/Download/d4cb9afa-ed66-422d-ae22-57edf08c84fa

    The MIL Network –

  • MIL-OSI USA: Attorney General James Announces $52 Million Multistate Settlement with Marriott over Data Breach

    Source: US State of New York

    NEW YORK – New York Attorney General Letitia James today announced a $52 million multistate settlement with Marriott International, Inc. (Marriott) over a multi-year data breach of one of its guest reservation databases. A multistate investigation found that one of Marriott’s subsidiaries, Starwood Hotels and Resorts Worldwide (Starwood), had intruders in its system for four years without getting detected, leading to a data breach that affected 131.5 million customers nationwide, including millions of New Yorkers. Today’s settlement with 50 attorneys general requires Marriott to significantly overhaul and strengthen its data security to protect customers’ private information and pay $52 million in penalties, of which New York will receive $2.29 million.

    “When people book a hotel stay for travel or work, they shouldn’t have to worry that their personal data and credit card information will be stolen,” said Attorney General James. “Marriott let cybercriminals live in its database for years and millions of people had their information stolen as a result. Protecting customers’ private information should be a top priority, not a last resort, for all companies. I am proud to stand with my fellow attorneys general to hold Marriott accountable and to protect customers.”

    Starwood operates hundreds of hotels nationwide, including hotels in New York. Marriott acquired Starwood in 2016 and took control of its computer network and databases. A multistate investigation discovered that from July 2014 until September 2018 intruders accessed and stayed on Starwood’s databases undetected for years. This intrusion led to the breach of 131.5 million customers’ personal information. The theft impacted people nationwide and exposed personal information, including contact information, gender, dates of birth, legacy Starwood Preferred Guest information, reservation information, and hotel stay preferences, as well as a limited number of unencrypted passport numbers and unexpired payment card information. 

    Today’s settlement requires Marriott to significantly strengthen and continually improve its cybersecurity practices. Some of the specific measures include:

    • An independent third-party assessment of Marriott’s information security program every two years for a period of 20.
    • Data minimization and disposal requirements, which will lead to less customer data being collected and retained.
    • Implementation of a comprehensive Information Security Program, including regular security reporting to the highest levels within the company, including the Chief Executive Officer, and enhanced employee training on data handling and security.
    • Increased vendor and franchisee oversight, with a special emphasis on risk assessments for “Critical IT Vendors,” and clearly outlined contracts with cloud providers.
    • In the future, if Marriott acquires another entity, it must promptly assess the acquired entity’s information security program and develop plans to address deficiencies as part of the integration into Marriott’s network.

    As part of the settlement, Marriott will allow customers to delete their data that is stored with the hotel if they wish to do so. Marriott must also offer multi-factor authentication to customers for their loyalty rewards accounts, such as Marriott Bonvoy, and conduct reviews of those accounts to ensure there is no suspicious activity. 

    Joining Attorney General James in signing today’s settlement are the attorneys general of Alabama, Alaska, Arizona, Arkansas, Connecticut, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, New Jersey, North Carolina, North Dakota, Ohio, Oregon, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, Wyoming, Vermont, and the District of Columbia.

    Attorney General James has taken major actions to hold companies accountable for having poor cybersecurity and to improve data security practices. In August 2024, Attorney General James and a multistate coalition secured $4.5 million from a biotech company for failing to protect patient data. In July 2024, Attorney General James launched two privacy guides, a Business Guide to Website Privacy Controls and a Consumer Guide to Tracking on the Web, to help businesses and customers protect themselves. In July 2024, Attorney General James issued a consumer alert to raise awareness about free credit monitoring and identity theft protection services available for millions of customers impacted by the Change Healthcare data breach. In March 2024, Attorney General James led a bipartisan coalition of 41 attorneys general in sending a letter to Meta Platforms, Inc. (Meta) addressing the recent rise of Facebook and Instagram account takeovers by scammers and frauds. In January 2024, Attorney General James reached an agreement with a Hudson Valley health care provider to invest $1.2 million to protect patient data.

    For New York, this matter was handled by Deputy Bureau Chief Clark Russell of the Bureau of Internet and Technology, under the supervision of Bureau Chief Kim Berger. The Bureau of Internet and Technology is a part of the Division for Economic Justice, which is led by Chief Deputy Attorney General Chris D’Angelo and overseen by First Deputy Attorney General Jennifer Levy.

    MIL OSI USA News –

  • MIL-OSI Security: Moncton  — 61-year-old man sentenced in connection with child pornography investigation

    Source: Royal Canadian Mounted Police

    A 61-year-old man from Moncton, N.B., has been sentenced in connection with an investigation into child pornography.

    The investigation, led by the New Brunswick RCMP’s Internet Child Exploitation (ICE) Unit, began in April 2022, following information received from the RCMP’s National Child Exploitation Crime Centre.

    On November 8, 2022, members of the RCMP ICE Unit, the Codiac Regional RCMP and the RCMP’s Digital Forensic Services, executed a search warrant at a residence on Atlantic Avenue in Moncton. A man was arrested at the scene, and police seized several electronic devices. He was later released on conditions, pending a future court appearance.

    On February 2, 2023, 61-year-old George Humphrey Lawrence appeared in Moncton Provincial Court and was charged with possession of child pornography and transmitting child pornography.

    On August 8, 2024, George Humphrey Lawrence, appeared in Moncton Provincial Court and plead guilty to all charges.

    On October 3, 2024, George Humphrey Lawrence was sentenced to three years in prison. He was also ordered to register with the National Sex Offender Registry for 20 years and to provide a DNA sample.

    Following his release from prison, he will have to abide by conditions set out by the court, including not communicating with anyone under the age of 16, and to not attend any place that someone under the age of 16 is known to be for a period of 20 years.

    The New Brunswick RCMP’s Internet Child Exploitation Unit includes members from the Saint John Police Force and the Kennebecasis Regional Police Force.

    If you are a victim, or have any information related to similar crimes, please contact your local police. If you have information that may assist an investigation and would like to remain anonymous, please contact Crime Stoppers at 1-800-222-TIPS (8477), by downloading the secure P3 Mobile App, or by Secure Web Tips at http://www.crimenb.ca.

    The investigation is ongoing.

    MIL Security OSI –

  • MIL-OSI Security: Man Who Bound and Raped Au Pair, Victimized Other Women and Girls, Sentenced to Life in Prison

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

              GRAND RAPIDS, MICHIGAN — U.S. Attorney for the Western District of Michigan Mark Totten today announced that Arisknight Winfree, 32, of East Lansing, was sentenced to life in federal prison for sexually exploiting four women, including two minors, in 2022. Winfree was convicted on multiple charges that included Kidnapping (Count 1), Coercion and Enticement (Count 2), Attempted Coercion and Enticement (Count 3), and Production of Child Pornography (Counts 4 and 5).

              “Arisknight Winfree is a sexual predator whose horrendous acts caused immeasurable harm to the women and girls upon whom he preyed,” said U.S. Attorney Mark Totten. “This life sentence is necessary to protect the community and bring a measure of justice to the survivors.”

              Winfree targeted his victims in multiple ways, including through use of the messaging service on various social media apps and through an online service that connects individuals, often young women, with host families in need of childcare and light housework. The Court convicted Winfree of five crimes involving four victims.

              First, Winfree was convicted of Kidnapping (Count 1) and Coercion and Enticement (Count 2) for the crimes he committed against S.D. The victim was a young woman living in Italy who Winfree contacted on September 5, 2022 through AuPair.com, a website service that connects young women with potential host families. Winfree falsely represented that his family was in search of an au pair to care for his niece. On October 12, 2022, S.D. flew from Italy to Detroit, Michigan, and then took a bus to Winfree’s residence in East Lansing, Michigan. The day after she arrived, Winfree handcuffed his victim’s hands behind her back, placed a gag ball in her mouth, and raped her. Winfree considered killing his victim and hiding her body to avoid prosecution.

              Second, Winfree was convicted of Attempted Coercion and Enticement (Count 3) for the crimes he committed against A.S. Winfree connected with A.S. through AuPair.com in July 2022, falsely representing he needed someone to watch his 7-year-old niece every other week. Winfree paid for A.S. to fly to Michigan on September 14, 2022. When A.S. got to Winfree’s residence, she noticed all the windows were covered with paper and cardboard. She also noticed there were cameras around the house. A.S. saw no signs of children. She saw several knives and guns around the house. On September 16, 2022, A.S.’s family called the East Lansing Police Department and requested a welfare check for A.S. With the assistance of the police, the victim left the residence with her belongings and returned to Kansas.

              Third, Winfree was convicted of Production of Child Pornography (Count 4) for the crimes he committed against Minor Victim 1 (MV1). Winfree connected with MV1 on Instagram in November 2022, when the victim was 17 years old. From November 29-30, MV1 created nude images at Winfree’s request and sent them to him through the social media app’s messaging feature. On November 30, 2022, Winfree picked MV1 up from her high school, drove her to his home, and engaged in sexual acts with her.

              Fourth, Winfree was convicted of another count of Production of Child Pornography (Count 5) for the crimes he committed against Minor Victim 2 (MV2). Winfree connected with MV2 in September or October of 2022 on SnapChat, when the victim was 16 years old. He instructed MV2 to engage in sexual acts and send images and videos to him through SnapChat and later through WhatsApp.

              Further details are provided in the attached Complaint and the United States’ Statement of Facts Establishing Defendant’s Guilt.

              “The sentencing of Arisknight Winfree marks a significant step towards healing for all those who suffered from his callous and heinous criminal acts,” said Cheyvoryea Gibson, Special Agent in Charge of the FBI in Michigan. “Individuals who engage in sexual exploitation involving minors will be investigated and arrested by the FBI and our law enforcement partners in Michigan. The collective investigative efforts by members from FBI Michigan, the East Lansing Police Department, and the prosecutorial efforts of the United States Attorney’s Office of Western Michigan prevented another crime from being committed by Mr. Winfree.”

              “The East Lansing Police Department would like to thank the FBI and the U.S. Attorney’s Office for the Western District of Michigan for their commitment to this case,” said ELPD Police Chief Chad Pride. “Arisknight Winfree’s conviction on multiple charges shows our collaborative partnerships were essential in bringing justice to the survivors of these awful acts and holding Arisknight accountable for his actions.”

              This case is part of Project Safe Childhood, a nationwide initiative designed to protect children from online exploitation and abuse. The U.S. Attorney’s Office, county prosecutor’s offices, the Internet Crimes Against Children task force (ICAC), federal, state, tribal, and local law enforcement are working closely together to locate, apprehend, and prosecute individuals who exploit children. The partners in Project Safe Childhood work to educate local communities about the dangers of online child exploitation, and to teach children how to protect themselves. For more information about Project Safe Childhood, please visit the following website: http://www.projectsafechildhood.gov. Individuals with information or concerns about possible child exploitation should contact local law enforcement officials.

              Assistant United States Attorney Davin Reust prosecuted this case. The East Lansing Police Department, Michigan State University Police and Public Safety, and the FBI investigated it.

              The U.S. Attorney’s Office for the Western District of Michigan issued the previous press releases in this case and a related case:

    ###

    MIL Security OSI –

  • MIL-OSI USA: Columbia Man Arrested on Criminal Solicitation of a Minor and Related ChargesRead More

    Source: US State of South Carolina


  • MIL-OSI: Encore Capital Group to Announce Third Quarter 2024 Financial Results on November 6

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Oct. 09, 2024 (GLOBE NEWSWIRE) — Encore Capital Group, Inc. (Nasdaq:ECPG), an international specialty finance company, announced today that it will release its financial results for the third quarter 2024 on Wednesday, November 6, 2024, after the market closes. The Company will also host a conference call and slide presentation the same day at 2:00 p.m. Pacific / 5:00 p.m. Eastern time with Ashish Masih, President and Chief Executive Officer, Jonathan Clark, Executive Vice President and Chief Financial Officer, and Bruce Thomas, Vice President, Global Investor Relations, presenting and discussing the reported results.

    Members of the public are invited to access the live webcast via the Internet by logging in on the Investor Relations page of Encore’s website at http://www.encorecapital.com. To access the live conference call by telephone, please pre-register using this link. Registrants will receive confirmation with dial-in details.

    For those who cannot listen to the live broadcast, a replay of the webcast will be available on the Company’s website shortly after the call concludes.

    About Encore Capital Group, Inc.

    Encore Capital Group is an international specialty finance company that provides debt recovery solutions and other related services for consumers across a broad range of financial assets. Through its subsidiaries around the globe, Encore purchases portfolios of consumer receivables from major banks, credit unions, and utility providers.

    Encore partners with individuals as they repay their debt obligations, helping them on the road to financial recovery and ultimately improving their economic well-being. Encore is the first and only company of its kind to operate with a Consumer Bill of Rights that provides industry-leading commitments to consumers. Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P Small Cap 600 and the Wilshire 4500. More information about the company can be found at http://www.encorecapital.com.

    Contact:
    Bruce Thomas
    Encore Capital Group, Inc.
    bruce.thomas@encorecapital.com

    SOURCE: Encore Capital Group, Inc.

    The MIL Network –

  • MIL-OSI Asia-Pac: “Indian Telecom Services Performance Indicator Report” for the Quarter April-June, 2024

    Source: Government of India

    Ministry of Communications

    “Indian Telecom Services Performance Indicator Report” for the Quarter April-June, 2024

    Posted On: 09 OCT 2024 5:36PM by PIB Delhi

    TRAI today has released the “Indian Telecom Services Performance Indicator Report” for the Quarter ending 30th June, 2024. This Report provides a broad perspective of the Telecom Services in India and presents the key parameters and growth trends of the Telecom Services as well as Cable TV, DTH & Radio Broadcasting services in India for the period covering 1st April, 2024 to 30th June, 2024 compiled mainly on the basis of information furnished by the Service Providers.

    Executive Summary of the Report is enclosed. The complete Report is available on TRAI’s website (http://www.trai.gov.in and under the link http://www. trai.gov.in/release-publication/reports/performance-indicators-reports). Any suggestion or any clarification pertaining to this report, Shri Amit Sharma, Advisor (F&EA), TRAI may be contacted on Tel. +91-20907772 and e-mail: advfea2@trai.gov.in.

    *****

    SB/DP/ARJ

     

    The Indian Telecom Services Performance Indicators

    April–June, 2024

    Executive Summary

     

    1. Total number of Internet subscribers increased from 954.40 million at the end of Mar-24 to 969.60 million at the end of Jun-24, registering a quarterly rate of growth 1.59%. Out of 969.60 million internet subscribers, number of Wired Internet subscribers are 42.04 million and number of Wireless Internet subscribers are 927.56 million.

    Composition of internet subscription

    1. The Internet subscriber base is comprised of Broadband Internet subscriber base of 940.75 million and Narrowband Internet subscriber base of 28.85 million.
    2. The broadband Internet subscriber base increased by 1.81% from 924.07 million at the end of Mar-24 to 940.75 million at the end of Jun-24. The narrowband Internet subscriber base decreased from 30.34 million at the end of Mar-24 to 28.85 million at the end of Jun-24.
    1. Wireline subscribers increased from 33.79 million at the end of Mar-24 to 35.11 million at the end of Jun-24 with a quarterly rate of growth 3.90% and, on Y-O-Y basis, wireline subscriptions also increased by 15.81% at the end of QE Jun-24.
    2. Wireline Tele-density increased from 2.41% at the end of Mar-24 to 2.50% at the end of Jun-24 with quarterly rate of growth 3.67%.
    3. Monthly Average Revenue per User (ARPU) for wireless service increased by 2.55%, from Rs.153.54 in QE Mar-24 to Rs.157.45 in QE Jun-24. On Y-O-Y basis, monthly ARPU for wireless service increased by 8.11% in this quarter.
    1. Prepaid ARPU per month increased from Rs.150.74 in QE Mar-24 to Rs.154.80 in QE Jun-24 and Postpaid ARPU per month also increased from Rs.187.85 in QE Mar-24 to Rs.189.17 in QE Jun-24.                               
    2. On an all-India average, the overall MOU per subscriber per month decreased by 2.16% from 995 in Q.E. Mar-2024 to 974 in Q.E. Jun-2024. 
    1. Prepaid MOU per subscriber is 1010 and Postpaid MOU per subscriber per month is 539 in QE Jun-24.
    1. Gross Revenue (GR), Applicable Gross Revenue (ApGR) and Adjusted Gross Revenue (AGR) of Telecom Service Sector for the Q.E. Jun-24 has been Rs.86,031 Crore, Rs.83,087 crore and Rs.70,555 Crore respectively.  GR decreased by 2.16%, ApGR decreased by 1.02% and AGR increased by 0.13% in Q.E. Jun-24, as compared to previous quarter. 
    1. The Y-O-Y rate of growth in GR, ApGR and AGR in Q.E. Jun-24 over the same quarter in last year has been 6.34%, 6.05% and 7.51% respectively.
    1. Pass Through Charges decreased from Rs.13,482 Crore in QE Mar-24 to Rs.12,561 Crore in QE Jun-24 with quarterly rate of decline 6.84%. The Y-O-Y rate of decline 4.99% has been recorded in pass-through charges for QE Jun-24.
    2. The License Fee increased from Rs.5,637 Crore for the QE Mar-24 to Rs.5,645 Crore for the QE Jun-24. The quarterly and the  Y-O-Y rates of growth in license fees are 0.14% and 7.62% respectively in this quarter.  

    Service-wise composition of Adjusted Gross Revenue

    1. Access services contributed 82.40% of the total Adjusted Gross Revenue of telecom services. In Access services, Gross Revenue (GR), Applicable Gross Revenue (ApGR), Adjusted Gross Revenue (AGR), License Fee, Spectrum Usage Charges (SUC) and Pass Through Charges increased by -0.69%, 1.32%, 2.83%, 2.81%, 0.35% and -6.93% respectively in QE Jun-24.
    2. The number of telephone subscribers in India increased from 1,199.28 million at the end of Mar-24 to 1,205.64 million at the end of Jun-24, registering a rate of growth 0.53% over the previous quarter. This reflects Year-On-Year (Y-O-Y) rate of growth 2.70% over the same quarter of the last year. The overall Tele-density in India increased from 85.69% as in QE Mar-24 to 85.95% as in QE Jun-24.

    Trends in Telephone subscribers and Tele-density in India

    1. Telephone subscribers in Urban areas increased from 665.38 million at the end of Mar-24 to 667.13 million at the end of Jun-24 however Urban Tele-density decreased from 133.72% to 133.46% during the same period.
    2. Rural telephone subscribers increased from 533.90 million at the end of Mar-24 to 538.51 million at the end of Jun-24 and Rural Tele-density also increased from 59.19% to 59.65% during the same period.
    1. Out of the total subscription, the share of Rural subscription increased from 44.52% at the end of Mar-24 to 44.67% at the end of Jun-24.

    Composition of Telephone Subscribers

       

    1. With a net increase of 5.04 million subscribers during the quarter, the total wireless subscriber base increased from 1,165.49 million at the end of Mar-24 to 1,170.53 million at the end of Jun-24, registering a rate of growth 0.43% over the previous quarter. On Y-O-Y basis, wireless subscriptions also increased at the rate of 2.36% during the year.  
    2. Wireless Tele-density increased from 83.27% at the end of Mar-24 to 83.45% at the end of Jun-24 with quarterly rate of growth  0.21%.
    3. During this quarter, the following parameters in terms of QoS benchmarks have been fully complied by wireline service providers: –
      1. Fault incidences (No. of faults per 100 subs/month) (≤ 7)
      2. % Fault repaired by next working day (for rural and hilly areas) (≥ 75%)
      3. % Fault repaired within 7 days (for rural and hilly areas) (100%)
      4. Point of Interconnection (POI) Congestion (No. of PoIs not meeting benchmark) (≤ 0.5%)
      5. Metering and billing credibility- post-paid (≤ 0.1%)
      6. Metering and billing credibility- pre-paid (≤ 0.1%)
      7. Resolution of billing/charging/credit & validity complaints within 4 weeks (98% within 4 weeks)
      8. Resolution of billing/charging/credit & validity complaints within 6 weeks (100% within 6 weeks)
      9. Period of applying credit/waiver/adjustment to customer’s account from the date of resolution of complaints (100% within 1 week of resolution of complaint)
      10. Accessibility of call centre/ customer care (≥ 95%)
    5. The following parameters have shown improvement, as compared to the previous quarter, in QoS by wireline service providers: –
      1. Accessibility of call centre/ customer care ≥ 95%
      2. %age of calls answered by the operators (voice to voice) within ninety seconds ≥ 95%
    7. During this quarter, list of Parameters which are fully complied, as compared to the previous quarter, by all the Cellular Mobile service providers: –

     

    1. Call Set-up Success Rate and Session Establishment Success Rate for Circuit Switched Voice or VoLTE as applicable (within licensee’s own network) ≥ 95%
    2. Network QoS DCR Spatial Distribution Measure [Network_ QSD (90,90)] ≤ 2%
    3. Network QoS DCR Temporal Distribution Measure [Network_ QTD (97,90)] ≤ 3%
    4. Connections with good voice quality, Circuit Switched Voice Quality and VoLTE quality ≥ 95%
    5. Down Link (DL) Packet Drop Rate or DL-PDR ≤ 2%
    6. Up Link (UL) Packet Drop Rate or UL-PDR ≤ 2%
    7. Point of Interconnection (POI) Congestion (No. of POIs not meeting the benchmark) ≤ 0.5%
    8. Metering and billing credibility – postpaid ≤ 0.1%
    9. Metering and billing credibility – prepaid ≤ 0.1%
    10. Resolution of billing/charging/validity complaints – 98% within 4 weeks
    11. Resolution of billing/charging/validity complaints – 100% within 6 weeks
    12. Accessibility of call centre/ customer care ≥ 95%
    13. Termination / Closure of service < 7 days
    14. Time taken for refund of deposits after closures (100% within 60 days)

     

    1. The following parameters have shown deterioration, as compared to the previous quarter, in QoS by Cellular Mobile service providers: –

     

    1. BS Accumulated downtime (not available for service) (%age) <=2%
    2. Worst affected BSs due to downtime (%age) <=2%
    3. SDCCH/ Paging Channel Congestion/ RRC Congestion (%age) <=1%
    4. TCH, RAB and E-RAB Congestion (%age) <=2%
    5. Period of applying credit/ waiver/ adjustment to customer’s account from the date of resolution of complaints – 100% within 1 week of resolution of complaint
    6. Percentage of calls answered by the operators (voice to voice) within ninety seconds ≥ 95%

     

    1. A total of approximately 912 private satellite TV channels have been permitted by the Ministry of Information and Broadcasting (MIB) for uplinking only/downlinking only/both uplinking & downlinking.  
    1. As per the reporting done by broadcasters in pursuance of the Tariff Order dated 3rd March 2017, as amended, out of 902 permitted satellite TV channels which are available for downlinking in India, there are 362 satellite pay TV channels as on 30th June, 2024. Out of 362 pay channels, 259 are SD satellite pay TV channels and 103 are HD satellite pay TV channels.  
    2. During the QE 30th June 2024, there were 4 pay DTH service providers in the country.
    1. Pay DTH has attained total active subscriber base of around 62.17 million. This is in addition to the subscribers of the DD Free Dish (free DTH services of Doordarshan). The total active subscriber base has increased from 61.97 million in March 2024 to 62.17 million in June 2024.
    2. Apart from the radio channels operated by All India Radio – the public broadcaster, as per the data reported by FM Radio operators to TRAI, as on 30th June 2024, there are 388 operational private FM Radio channels in 113 cities operated by 36 private FM Radio operators. As compared to the previous quarter, there is no change in the number of operational private FM Radio channels, cities and FM Radio operators.
    1. The advertisement revenue reported by FM Radio operators during the quarter ending 30th June 2024 in respect of 388 private FM Radio channels is Rs.428.45 crore as against Rs.491.98 crore in respect of 388 private FM Radio channels for the previous quarter. 
    1. As on 30th June, 2024, 499 Community Radio stations are operational.

    SNAPSHOT

    (Data as on Q.E. 30th June, 2024)

    Telecom Subscribers (Wireless+Wireline)

    Total Subscribers

    1,205.64 Million

    % change over the previous quarter

    0.53%

    Urban Subscribers

    667.13 Million

    Rural Subscribers

    538.51 Million

    Market share of Private Operators

    91.97%

    Market share of PSU Operators

    8.03%

    Tele-density

    85.95%

    Urban Tele-density

    133.46%

    Rural Tele-density

    59.65%

    Wireless Subscribers

    Total Wireless Subscribers

    1,170.53 Million

    % change over the previous quarter

    0.43%

    Urban Subscribers

    635 Million

    Rural Subscribers

    535.53 Million

    Market share of Private Operators

    92.51%

    Market share of PSU Operators

    7.49%

    Tele-density

    83.45%

    Urban Tele-density

    127.03%

    Rural Tele-density

    59.32%

    Total Wireless Data Usage during the quarter

    56,183 PB

    Number of Public Mobile Radio Trunk Services (PMRTS)

    65,223

    Number of Very Small Aperture Terminals (VSAT)

    2,51,840

    Wireline Subscribers

    Total Wireline Subscribers

    35.11 Million

    % change over the previous quarter

    3.90%

    Urban Subscribers

    32.13 Million

    Rural Subscribers

    2.98 Million

    Market share of PSU Operators

    26.08%

    Market share of Private Operators

    73.92%

    Tele-density

    2.50%

    Rural Tele-density

    0.33%

    Urban Tele-density

    6.43%

    No. of Village Public Telephones (VPT)

                68,606

     

    No. of Public Call Office (PCO)

             16,958

     

    Telecom Financial Data

    Gross Revenue (GR) during the quarter

    Rs. 86,031/- crore

    % change in GR over the previous quarter

    -2.16%

    Applicable Gross Revenue (ApGR) during quarter

    Rs. 83,087/- crore

    % change in ApGR over the previous quarter

    -1.02%

    Adjusted Gross Revenue (AGR) during the quarter

    Rs.70,555/- crore

    % change in AGR over the previous quarter

    0.13%

    Share of Public sector undertakings in Access AGR

    3.53%
     

    Internet/Broadband Subscribers

    Total Internet Subscribers

    969.60 Million

    % change over previous quarter

    1.59%

    Narrowband subscribers

    28.85 Million

    Broadband subscribers

    940.75 Million

    Wired Internet Subscribers

    42.04 Million

    Wireless Internet Subscribers

    927.56 Million

    Urban Internet Subscribers

    562.27 Million

    Rural Internet Subscribers

    407.33 Million

     

    M

    Total Internet Subscribers per 100 population

    69.12

    Urban Internet Subscribers per 100 population

    112.48

    Rural Internet Subscribers per 100 population

    45.12

    Total Outgoing Minutes of Usage for Internet Telephony

    87.01 Million

    No. of Public Wi-Fi Hotspots

    1,64,909

    Aggregate Data Consumed (TB) for Public Wi-Fi Hotspots during the quarter

    13,094

    Broadcasting & Cable Services

    Number of private satellite TV channels permitted by the Ministry of I&B for uplinking only/downlinking only/both uplinking and downlinking

    902

    Number of Pay TV Channels as reported by broadcasters

    362

    Number of private FM Radio Stations (excluding All India Radio)

    388

    Number of total active subscribers with pay DTH operators

    62.17 Million

    Number of Operational Community Radio Stations

    499

    Number of pay DTH Operators

    4

    Revenue & Usage Parameters

    Monthly ARPU of Wireless Service

    Rs.157.45

    Minutes of Usage (MOU) per subscriber per month – Wireless Service

    974

    Wireless Data Usage

    Average Wireless Data Usage per wireless data subscriber per month

    21.30 GB

    Average revenue realization per GB for wireless data usage during the quarter

    Rs.8.31

    (Release ID: 2063567)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Results of Comprehensive Annual Modular Survey, July 2022- June 2023

    Source: Government of India (2)

    Posted On: 09 OCT 2024 5:44PM by PIB Delhi

    A. Key Findings

    (i) Approximately 96.9 percent of persons aged 15-24 years are able to read and write simple statements with understanding and also able to perform simple arithmetic calculations. In the same age group, the figure stands around 97.8 percent for males and 95.9 percent for females.

    (ii) The mean years of schooling in formal education, for persons age 15 years and above is 8.4 at the all-India level and the same is 7.5 for persons age 25 years and above.

    (iii) The average out-of-pocket medical expenditure per household on hospitalization during last 365 days in rural and urban areas are Rs 4,129/- and Rs 5,290/-respectively. Additionally, the average out-of-pocket medical expenditure per household on non-hospitalization during last 30 days in rural and urban areas are Rs 539/- and Rs 606/- respectively.

    (iv) Approximately 93.7 percent urban population has convenient access to low-capacity public transport (bus, car, taxi, auto etc) within 500 meters from the place of living.

    (v) 78.4% of youth aged 15-24 years can send messages with attached files, while 71.2% can use copy-and-paste tools. Additionally, 26.8% can perform more advanced tasks like searching for information, sending emails, and conducting online banking.

    (vi) 95.7% of persons aged 15-24 years in rural areas can use mobile phones, with the figure being 97% in urban areas.

    (vii)  82.1% of rural youth aged 15-24 years can use the internet, compared to 91.8% in urban areas.

    (viii) Around 94.6% persons aged 18 years and above, having an account individually are jointly in any bank / other financial institution at all India level.

     

    B. Introduction

    As a part of the 79th round of the National Sample Survey (NSS) the Comprehensive Annual Modular Survey (CAMS) was conducted from July, 2022 to June, 2023. The primary objective of CAMS was to collect data to generate indicators related to education, out-of-pocket medical expenditure, use of mobile and internet, financial inclusion, ICT skills, possession of assets, etc. In addition, information related to drinking water, sanitation, energy use, birth registration, access to transport facilities, etc., was also collected. The report is available on the Ministry’s website (http://www.mospi.gov.in).

    C. Sample Design

    In this survey, Two Stage Stratified Sampling was used, where First Stage Units (FSU) were villages/sub-units (SUs) in rural areas, and Urban Frame Survey (UFS) blocks/SUs in urban areas. The FSUs were allocated to States and UTs in proportion to the population as per Census 2011. The Second Stage Units (SSUs) were households in both rural and urban areas. The selection of FSUs and SSUs was done using Simple Random Sampling without Replacement (SRSWOR).

    D. Survey Coverage

    The survey covered the whole of the India Union except for some villages of Andaman and Nicobar Islands which were difficult to access. At the all-India level, the total number of first-stage units (FSUs) surveyed for the central sample was 15,298 (8,758 in rural areas and 6,540 in urban areas). The total number of households surveyed was 3,02,086 (1,73,096 in rural areas and 1,28,990 in urban areas) and the total number of persons enumerated was 12,99,988 (7,85,246 in rural areas and 5,14,742 in urban areas).

    E. Comparability of results and release of unit-level data

    The data collected in this survey represents the demand-side information of the households surveyed. In contrast, administrative data, wherever available, typically reflects the supply-side metrics. It is also important to recognize that respondents sometimes reluctant to provide specific information which may lead to under-reporting of some information, particularly in questions related to government schemes. Moreover, the coverage and definitions used in alternative data sources may not align perfectly with those adopted in this survey. To mention some specific cases, in this survey primary source of energy used by the household for cooking is defined as the source of energy which the household used majority of the time for cooking, whereas, the administrative record is based on the definition of the number of LPG connections/ consumers. Similarly, in this survey, the principal source of drinking water is defined as the source from which the household obtained most of its drinking water over the past 365 days, however, the administrative record is based on the number of pipe water connections provided. These variations in methodology, scope, and timeframes may affect the comparability of results across different data sources.

    Additionally, this survey attempted to collect person-level information on the formal education of erstwhile household members aged 18 years or above who are currently studying outside India. However, the total number of samples representing the information is insufficient to generate reliable estimates for the indicator. Since the dataset is not robust enough for policy purposes, the unit-level data collected to generate the indicator will not be disseminated to avoid possible ambiguity in interpreting the results.

    F. Major findings of the survey

    (i) Percentage of persons able to read and write short simple statements in their everyday life with understanding and also able to perform simple arithmetic calculations

     

    In rural areas, about 96.5 percent of persons in the age group 15-24 years are able to read and write short simple statements in their everyday life with understanding and also able to perform simple arithmetic calculations while in urban areas it has been around 97.9 percent. Sector-wise estimates for different age groups are shown in Figure 1.

    (ii) Mean years of schooling in formal education

    The gender-sector-wise mean years of schooling in formal education for age 15 years and above and 25 years and above is given in Figure 2 and Figure 3 respectively. The mean years of schooling in formal education is marginally higher in the age group 15 years and above compared to the age group 25 years and above.    

    (iii) Average out-of-pocket medical expenditure

    The average out-of-pocket medical expenditure per household and per person on hospitalized treatment during last 365 days and non-hospitalized treatment during last 30 days were estimated separately for rural and urban India. Figure 4 and Figure 5 present sector-wise expenditure on different types of treatment.

     

    F. In addition to the above, estimates of some of the indicators at the all-India level are given below:

     

    Sl No

    Item Description

    Rural

    Urban

    All

    (Rural + Urban)

    1

    Percentage of persons aged 15-24 years able to read and write short simple statements in their everyday life with understanding

    96.7

    98.0

    97.0

    2

    Percentage of persons of age 6 to 10 years who reported as currently enrolled in primary education (Class I to Class V) at the time of survey

    90.5

    89.2

    90.1

    3

    Percentage of persons of age 25 years and above with some secondary education

    30.4

    56.6

    38.6

    4

    Percentage of persons of age 6 to 18 years who never enrolled in formal education

    2.2

    1.9

    2.1

    5

    Percentage of persons aged 21-35 years who graduated in Science and Technology among all graduates

    31.4

    44.4

    37.8

    6

    Precentage of youth in formal and non-formal education and training in the previous 12 months in the age group 15-24 years

    45.9

    57.1

    49.0

    7

    Percentage of youth reported to be not in education, employment, or training, as on date of survey for the age group 15-24 years

    25.0

    19.0

    23.3

    8

    Percentage of persons (age ≥ 18 years) who have an account individually or jointly in any bank/ other financial institution/mobile money service provider

    94.6

    94.4

    94.6

    9

    Number of borrowers (age ≥ 18 years) per 1,00,000 persons

    18,714

    17,442

    18,322

    10

    Percentage of persons able to use mobile (including smart phone) as on date of survey (age 15-24 years)

    95.7

    97.0

    96.1

    11

    Percentage of persons who used mobile telephones with an active sim card, at least once, during the last three months preceding the date of the survey (age 15-24 years)

    92.6

    95.3

    93.3

    12

    Percentage of persons able to use internet as on date of survey (age 15-24 years)

    82.1

    91.8

    84.8

    13

    Percentage of persons who used internet during last three months preceding the date of survey (age 15-24 years)

    80.4

    90.8

    83.3

    14

    percentage of persons covered by 4G or above mobile technology

    99.5

    99.8

    99.7

    15

    Percentage of persons aged 15-24 years reported execution of skill of ‘sending messages (e.g., e-mail, messaging service, SMS) with attached files (e.g., documents, pictures, and video)’

    74.9

    87.3

    78.4

    16

    Percentage of persons aged 15-24 years reported execution of skill of ‘copy and paste tools to duplicate or move data, information, documents, etc.’

    67.1

    81.8

    71.2

    17

    Percentage of persons who can search internet for information and who can send or receive emails and who can perform online banking transactions simultaneously in the age group 15-24 years

    21.0

    40.2

    26.8

    18

    Percentage of households possessing telephone/ mobile phone1

    94.2

    97.1

    95.1

    19

    Percentage of households possessing computer2

    4.2

    21.6

    9.9

    20

    Percentage of the urban population having convenient access to high-capacity public transport (train, metro, ferry etc.) within 1 km from place of living

    –

    41.6

    –

    21

    Percentage of the rural population with all-weather roads within in a distance of 2 km from the place of living

    94.2

    –

    –

    22

    percentage of persons of age less than 5 years who have registered with civil authority for the birth certificate ever (including those who received birth certificates)

    90.5

    90.8

    90.6

    23

    Percentage of households using clean fuel for cooking (among households reported having cooking arrangements)

    49.3

    92.9

    63.4

    24

    Percentage of households having access to improved principal source of drinking water

    94.9

    97.5

    95.7

    25

    Percentage of households having access to improved latrine (among households with access to latrine)

    97.1

    98.9

    97.8

    Notes:

    1. telephone includes landline and mobile phone includes smart phone

    2. Computer includes desktop PC, laptop etc.

     

    *****

     

    SB/DP/ARJ

    (Release ID: 2063571) Visitor Counter : 103

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: ITU-WTSA Hackathon Phase-2, the 40 hour in-person coding event, concludes at Bharat Mandapam

    Source: Government of India

    ITU-WTSA Hackathon Phase-2, the 40 hour in-person coding event, concludes at Bharat Mandapam

    The event featured expert talks, mentoring sessions, demos, and evaluations

    National and international teams developed solutions for challenges such as flood monitoring and alert systems, traffic optimization, urban mobility, and women’s safety

    Posted On: 09 OCT 2024 7:29PM by PIB Delhi

    The Phase-2 of the ITU WTSA Hackathon concluded on 8th October 2024 at Bharat Mandapam, bringing together participants from across the globe under the banner of the “AI Bharat 5G/6G Sandbox.” The event, launched by Dr. Neeraj Mittal, Secretary of the Department of Telecommunications, was a collaborative effort between the International Telecommunication Union (ITU) and the Department of Telecommunications (DoT).

    The hackathon attracted 88 registered teams, with 12 advancing to Phase-2 after submitting high-quality proposals aligned with ITU standards. These teams took part in an intensive 40-hour in-person coding competition, held from 7th to 8th October, featuring expert talks, mentoring sessions, live demos, and evaluations. Participants received guidance from ITU experts and global mentors, including professors, high-level speakers from the Department of Telecommunications, and a panel of elite Indian and international mentors.

    The hackathon focused on integrating AI/ML into 5G/6G networks, in line with the United Nations Sustainable Development Goals (SDGs). The goal was to address practical and relevant global issues using cutting-edge technology and global standards.

    Teams worked on innovative solutions, addressing key challenges in areas such as public transportation, flood monitoring, and drone-based resource scheduling. Among the notable projects were a 5G-enabled smart city public transportation system, a flood monitoring and alerting system, and solutions for waste management on river beds. Other teams focused on AI-based 6G standards barrier reduction, dynamic beamforming optimization, and traffic optimization to enhance urban mobility. Women’s safety was also a priority, with the AuratRaksha solution offering advanced protection measures. In addition, teams tackled issues such as SIM fraud protection and real-time network reliability prediction, showcasing a broad range of applications and technological innovations.

    Each team was evaluated on their preparedness, problem statement design, and the effectiveness of their solution, with a focus on the three critical dimensions of the hackathon: UN-SDGs, AI machine learning models, and their application to NextGen telecom networks. Teams were also provided with cloud credits worth Rs. 83,500 (USD 1,000) to train and optimize their AI models, pushing the boundaries of innovation in AI solutions for telecommunications.

    During the concluding session, successful teams were awarded ITU-WTSA hackathon participation certificates.

    The competition kicked off with 12 shortlisted teams—seven from India and five international—participating in late-night coding marathons and online mentoring sessions during the two-day event. The hackathon was supported by an elite panel of Indian and international mentors, including 12 Indian and two international experts, along with guidance from an ITU Programme Officer.

    First Phase:

    The first phase took place from 7th August to 30th September 2024. During this online phase, participants from diverse backgrounds, including international teams, competed in a series of challenges aimed at integrating AI/ML into 5G/6G infrastructures.

    The Hackathon focuses on two problem statements:

    1.         AI Bharat 5G/6G Sandbox – Build Your Own AI/ML Model for 5G/6G: Teams will develop AI/ML pipelines leveraging ITU recommendations, including ITU-T Y.3172 and ITU-T Y.3061, with the aim of creating innovative use cases for 5G/6G.

    2.         AI Bharat 5G/6G Sandbox – Build Your Own xApp for Autonomous 5G/6G: Participants will create xApps to enhance autonomous 5G/6G networks, guided by ITU experts.  

     

    The AI Bharat 5G/6G Hackathon has become a hub for innovation, bringing together students, startups, and technology enthusiasts from India and across the globe. It will help shape the future of AI and next-generation telecommunications.

    (For further updates on the hackathon, please visit: https://challenge.aiforgood.itu.int/match/matchitem/95.)

    The ITU WTSA Hackathon event is a precursor to the World Telecommunication Standardization Assembly (WTSA) 2024, a pivotal global event that will bring together more than 3,000 participants including industry leaders, ​​policy-makers and tech experts from 190+ countries, representing telecom, digital, and ICT sectors. This event, organized by the International Telecommunication Union (ITU) and hosted by Department of Telecommunication (DoT) will be held in New Delhi from 15th -24th Oct 2024, with Prime Minister Narendra Modi inaugurating the event along with India Mobile Congress 2024, on October 15th, 2024 at Bharat Mandapam in New Delhi. Along with the WTSA and IMC, several parallel events will take place.

    Organized every four years, WTSA is the governing conference for the standardization work of ITU, the United Nations Agency for Digital Technologies. It is for the first time that the ITU-WTSA will be hosted in India and the Asia-Pacific.

    WTSA 2024 provides a platform for countries to discuss and decide the future of standards of next-generation critical technologies like 6G, AI, IoT, Big Data, cybersecurity, etc. Hosting this event in India will provide the country an opportunity to play a key role in shaping the global telecom agenda and to set the course for future technologies. Indian startups and research institutions are set to gain critical insights into developing Intellectual Property Rights (IPRs) and Standard Essential Patents (SEPs).

    (More details are available at:  http://www.delhiwtsa24.in )

    ****

    <><><>

    SB/ARJ/DP

    (Release ID: 2063634) Visitor Counter : 19

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: Financial news: Three Federal Treasury deposit auctions will take place on 10/09/2024

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    Application selection parameters
    Date of the selection of applications 10/09/2024
    Unique identifier of the application selection 22024514
    Deposit currency rubles
    Type of funds funds of the single treasury account
    Maximum amount of funds placed in bank deposits, million monetary units 569,000
    Placement period, in days 2
    Date of deposit 10/09/2024
    Refund date 10/11/2024
    Interest rate for placement of funds (fixed or floating) FIXED
    Minimum fixed interest rate for placement of funds, % per annum 18.14
    Basic floating interest rate for placement of funds –
    Minimum spread, % per annum –
    Terms of conclusion of a bank deposit agreement (fixed-term, replenishable or special) Urgent
    Minimum amount of funds placed for one application, million monetary units 1,000
    Maximum number of applications from one credit institution, pcs. 5
    Application selection form (open or closed) Open
    Application selection schedule (Moscow time)
    Venue for the selection of applications PAO Moscow Exchange
    Applications accepted: from 09:30 to 09:40
    Preliminary applications: from 09:30 to 09:35
    Applications in competition mode: from 09:35 to 09:40
    Formation of a consolidated register of applications: from 09:40 to 09:50
    Setting a cut-off percentage rate and/or recognizing the selection of applications as unsuccessful: from 09:40 to 10:00
    Submission of an offer to credit institutions to conclude a bank deposit agreement: from 10:00 to 11:00
    Receiving acceptance of an offer to conclude a bank deposit agreement from credit institutions: from 10:00 to 11:00
    Deposit transfer time In accordance with the requirements of paragraph 63 and paragraph 64 of the Order of the Federal Treasury dated 04/27/2023 No. 10n
    Application selection parameters
    Date of the selection of applications 10/09/2024
    Unique identifier of the application selection 32024019
    Deposit currency rubles
    Type of funds funds of the Social Fund of Russia (SFRR)
    Maximum amount of funds placed in bank deposits, million monetary units 46.5
    Placement period, in days 75
    Date of deposit 10/09/2024
    Refund date 12/23/2024
    Interest rate for placement of funds (fixed or floating) FLOATING
    Minimum fixed interest rate for placement of funds, % per annum –
    Basic floating interest rate for placement of funds RUONmDS
    Minimum spread, % per annum 0.00
    Terms of conclusion of a bank deposit agreement (fixed-term, replenishable or special) Special
    Minimum amount of funds placed for one application, million monetary units 1
    Maximum number of applications from one credit institution, pcs. 5
    Application selection form (open or closed) Open
    Application selection schedule (Moscow time)
    Venue for the selection of applications PAO Moscow Exchange
    Applications accepted: from 12:30 to 12:40
    Pre-applications: from 12:30 to 12:35
    Applications in competition mode: from 12:35 to 12:40
    Formation of a consolidated register of applications: from 12:40 to 12:50
    Setting a cut-off percentage rate and/or recognizing the selection of applications as unsuccessful: from 12:40 to 13:00
    Submission of an offer to credit institutions to conclude a bank deposit agreement: from 13:00 to 14:00
    Receiving acceptance of an offer to conclude a bank deposit agreement from credit institutions: from 13:00 to 14:00
    Deposit transfer time In accordance with the requirements of paragraph 63 and paragraph 64 of the Order of the Federal Treasury dated 04/27/2023 No. 10n

    RUONmDS = RUONIA – DS, where

    RUONIA – the value of the indicative weighted rate of overnight ruble loans (deposits) RUONIA, expressed in hundredths of a percent, published on the official website of the Bank of Russia on the Internet on the day preceding the day for which interest is accrued. In the absence of a publication of the RUONIA rate value on the day preceding the day for which interest is accrued, the last of the published RUONIA rate values is taken into account.

    DS – discount – a value expressed in hundredths of a percent and rounded (according to the rules of mathematical rounding) to two decimal places, calculated by multiplying the value of the Key Rate of the Bank of Russia by the value of the required reserve ratio for other liabilities of credit institutions for banks with a universal license, non-bank credit institutions (except for long-term ones) in the currency of the Russian Federation, valid on the date for which interest is accrued, and published on the official website of the Bank of Russia on the Internet.

    Application selection parameters
    Date of the selection of applications 10/09/2024
    Unique identifier of the application selection 22024515
    Deposit currency rubles
    Type of funds funds of the single treasury account
    Maximum amount of funds placed in bank deposits, million monetary units 30,000
    Placement period, in days 98
    Date of deposit 10/10/2024
    Refund date 01/16/2025
    Interest rate for placement of funds (fixed or floating) FLOATING
    Minimum fixed interest rate for placement of funds, % per annum –
    Basic floating interest rate for placement of funds RUONmDS
    Minimum spread, % per annum 0.00
    Terms of conclusion of a bank deposit agreement (fixed-term, replenishable or special) Urgent
    Minimum amount of funds placed for one application, million monetary units 1,000
    Maximum number of applications from one credit institution, pcs. 5
    Application selection form (open or closed) Open
    Application selection schedule (Moscow time)
    Venue for the selection of applications PAO Moscow Exchange
    Applications accepted: from 15:30 to 15:40
    Pre-applications: from 15:30 to 15:35
    Applications in competition mode: from 15:35 to 15:40
    Formation of a consolidated register of applications: from 15:40 to 15:50
    Setting a cut-off percentage rate and/or recognizing the selection of applications as unsuccessful: from 15:40 to 16:00
    Submission of an offer to credit institutions to conclude a bank deposit agreement: from 16:00 to 17:00
    Receiving acceptance of an offer to conclude a bank deposit agreement from credit institutions: from 16:00 to 17:00
    Deposit transfer time In accordance with the requirements of paragraph 63 and paragraph 64 of the Order of the Federal Treasury dated 04/27/2023 No. 10n

    RUONmDS = RUONIA – DS, where

    RUONIA – the value of the indicative weighted rate of overnight ruble loans (deposits) RUONIA, expressed in hundredths of a percent, published on the official website of the Bank of Russia on the Internet on the day preceding the day for which interest is accrued. In the absence of a publication of the RUONIA rate value on the day preceding the day for which interest is accrued, the last of the published RUONIA rate values is taken into account.

    DS – discount – a value expressed in hundredths of a percent and rounded (according to the rules of mathematical rounding) to two decimal places, calculated by multiplying the value of the Key Rate of the Bank of Russia by the value of the required reserve ratio for other liabilities of credit institutions for banks with a universal license, non-bank credit institutions (except for long-term ones) in the currency of the Russian Federation, valid on the date for which interest is accrued, and published on the official website of the Bank of Russia on the Internet.

    Contact information for media 7 (495) 363-3232PR@moex.com

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

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

    https://www.moex.com/n73836

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

    MIL OSI Russia News –

  • MIL-OSI Economics: Building Fiber Leadership in Latin America: Bringing Gigabit Life to the Region

    Source: Huawei

    Headline: Building Fiber Leadership in Latin America: Bringing Gigabit Life to the Region

    [Sao Paulo, Brazil, October 9, 2024] The 2024 LATAM Fiber Broadband Leaders Summit hosted by Huawei and supported by the International Telecommunication Union (ITU) was successfully held in Brazil. Themed “Digital Fiber, Advancing Giga LATAM”, the summit brought together more than 260 people from industry organizations, partners, and carriers in Latin America. At the Summit, participants discussed fiber broadband development trends, strategies, and practices. Huawei for the first time proposed three development strategies (all-optical transition, gigabit transition, and scenario transition) for giga fiber broadband industry and launched three digital fiber solutions.
    Joey Zhou, President of Huawei Latin America ICT Marketing and Solution Sales Dept, delivering his opening speech

    Joey Zhou, President of Huawei Latin America ICT Marketing and Solution Sales Dept., said optical fiber has become Latin America’s most important broadband access technology. His statement was based on a recent report from the consultancy Omdia that noted that in 2024, fiber accounted for more than 60% of home broadband in Latin America.
    Mainstream carriers in Latin America have released all-optical strategies and continued to increase investment. As digital services such as home office, live streaming, and e-commerce develop rapidly in Latin America, users pay more attention to network experience requirements, and upgrade bandwidth from 100Mbit/s to 1Gbit/s. Concurrently, application scenarios of optical broadband are no longer limited to traditional home entertainment scenarios, many diversified application scenarios such as smart home and SME digitalization emerge through one fiber, which will help carriers expand the boundaries of home broadband revenue.
    At the event, Joey Zhou further noted: “Latin America’s digital economy is in a golden development period, digital services are accelerating, which has brought broad opportunities for value creation. Huawei is willing to work with governments, regulators, carriers and industry partners to accelerate the development of Latin America’s gigabit optical broadband industry and jointly build a digital Latin America.”
    Gary Lu, President of Huawei Carrier Network Marketing and Solution Sales Department, delivered a speech titled “ACT3 to Embrace the GIGA and AI eras”. A is for ARPU, C is about coverage of service, and T stands for take-up rate.
    Coverage multiplied by take-up rate is the user base, and ARPU is the key to increasing revenue.”ACT” to the power of three, means the three transitions are the way to increase the user base and the revenue of FBB service, and it will also bring the quality of digital life to Latin America. Gary Lu said that fiber construction and development in Latin America has entered the fast lane, and the gigabit fiber broadband era of Latin America has arrived. Carriers need to seize the new business opportunities in the gigabit and AI era. In his speech, Gary Lu proposed three development strategy suggestions — all-optical transition, gigabit transition, and scenario transition— to accelerate cable-to-fiber transition, increase both speed and quality, meet digital and AI service requirements, provide diversified and scenario-based service. By accelerating the three transitions, Huawei and Latin American carriers will jointly usher in a new era of gigabit intelligence in the region, bringing richer and higher-quality digital life experiences to users.
    Gary Lu, President of Huawei Carrier Network Marketing and Solution Sales Dept, speaking at the event

    Daniel Zhang, Vice president of Huawei Latin America ICT Marketing and Solution Sales Department, delivered a speech titled “Digital Fiber Innovations, Advancing Giga LATAM”. Zhang said that Huawei has consistently adhered to the vision of “in Latin America, For Latin America”, matching Latin American market requirements and continuously promoting digital fiber innovations, to accelerate the development of the Latin American ICT industry. To help carriers better seize the development opportunities of gigabit Latin America, Huawei launched three major Digital Fiber solution innovations: Digital Quick ODN 4 cores solutions for cost-effective FTTH construction, Service-level slicing-based FTTH gigabit solution ensures differentiated service experience, and symmetrical 2.5 Gbit/s Super GPON Solution supports symmetrical business scenarios for small and medium-sized enterprises. In the future, Huawei hopes to work with industry partners to build gigabit Latin America and accelerate the development of the digital economy in Latin America.
    Daniel Zhang, Vice President of Huawei Latin America ICT Marketing & Solution Sales Dept, during his address

    MIL OSI Economics –

  • MIL-OSI Economics: Building Fiber Leadership in Latin America: Bringing Gigabit Life to the Region Oct 09, 2024

    Source: Huawei

    Headline: Building Fiber Leadership in Latin America: Bringing Gigabit Life to the Region
    Oct 09, 2024

    [Sao Paulo, Brazil, October 9, 2024] The 2024 LATAM Fiber Broadband Leaders Summit hosted by Huawei and supported by the International Telecommunication Union (ITU) was successfully held in Brazil. Themed “Digital Fiber, Advancing Giga LATAM”, the summit brought together more than 260 people from industry organizations, partners, and carriers in Latin America. At the Summit, participants discussed fiber broadband development trends, strategies, and practices. Huawei for the first time proposed three development strategies (all-optical transition, gigabit transition, and scenario transition) for giga fiber broadband industry and launched three digital fiber solutions.
    Joey Zhou, President of Huawei Latin America ICT Marketing and Solution Sales Dept, delivering his opening speech

    Joey Zhou, President of Huawei Latin America ICT Marketing and Solution Sales Dept., said optical fiber has become Latin America’s most important broadband access technology. His statement was based on a recent report from the consultancy Omdia that noted that in 2024, fiber accounted for more than 60% of home broadband in Latin America.
    Mainstream carriers in Latin America have released all-optical strategies and continued to increase investment. As digital services such as home office, live streaming, and e-commerce develop rapidly in Latin America, users pay more attention to network experience requirements, and upgrade bandwidth from 100Mbit/s to 1Gbit/s. Concurrently, application scenarios of optical broadband are no longer limited to traditional home entertainment scenarios, many diversified application scenarios such as smart home and SME digitalization emerge through one fiber, which will help carriers expand the boundaries of home broadband revenue.
    At the event, Joey Zhou further noted: “Latin America’s digital economy is in a golden development period, digital services are accelerating, which has brought broad opportunities for value creation. Huawei is willing to work with governments, regulators, carriers and industry partners to accelerate the development of Latin America’s gigabit optical broadband industry and jointly build a digital Latin America.”
    Gary Lu, President of Huawei Carrier Network Marketing and Solution Sales Department, delivered a speech titled “ACT3 to Embrace the GIGA and AI eras”. A is for ARPU, C is about coverage of service, and T stands for take-up rate.
    Coverage multiplied by take-up rate is the user base, and ARPU is the key to increasing revenue.”ACT” to the power of three, means the three transitions are the way to increase the user base and the revenue of FBB service, and it will also bring the quality of digital life to Latin America. Gary Lu said that fiber construction and development in Latin America has entered the fast lane, and the gigabit fiber broadband era of Latin America has arrived. Carriers need to seize the new business opportunities in the gigabit and AI era. In his speech, Gary Lu proposed three development strategy suggestions — all-optical transition, gigabit transition, and scenario transition— to accelerate cable-to-fiber transition, increase both speed and quality, meet digital and AI service requirements, provide diversified and scenario-based service. By accelerating the three transitions, Huawei and Latin American carriers will jointly usher in a new era of gigabit intelligence in the region, bringing richer and higher-quality digital life experiences to users.
    Gary Lu, President of Huawei Carrier Network Marketing and Solution Sales Dept, speaking at the event

    Daniel Zhang, Vice president of Huawei Latin America ICT Marketing and Solution Sales Department, delivered a speech titled “Digital Fiber Innovations, Advancing Giga LATAM”. Zhang said that Huawei has consistently adhered to the vision of “in Latin America, For Latin America”, matching Latin American market requirements and continuously promoting digital fiber innovations, to accelerate the development of the Latin American ICT industry. To help carriers better seize the development opportunities of gigabit Latin America, Huawei launched three major Digital Fiber solution innovations: Digital Quick ODN 4 cores solutions for cost-effective FTTH construction, Service-level slicing-based FTTH gigabit solution ensures differentiated service experience, and symmetrical 2.5 Gbit/s Super GPON Solution supports symmetrical business scenarios for small and medium-sized enterprises. In the future, Huawei hopes to work with industry partners to build gigabit Latin America and accelerate the development of the digital economy in Latin America.
    Daniel Zhang, Vice President of Huawei Latin America ICT Marketing & Solution Sales Dept, during his address

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: President Lai meets Prime Minister Feleti Teo of Tuvalu

    Source: Republic of China Taiwan

    President Lai meets Prime Minister Feleti Teo of Tuvalu
    2024-10-08

    On the morning of October 8, President Lai Ching-te met with a delegation led by Prime Minister Feleti Teo of Tuvalu and his wife. In remarks, President Lai thanked Tuvalu for speaking up for Taiwan at numerous international venues, and for its staunch support. Indicating that Taiwan and Tuvalu are both maritime nations, the president said that our nations will continue to address the challenges posed by climate change together and establish even closer collaboration in such areas as medicine and public health, agriculture and fisheries, and information and communications technology (ICT). President Lai stated that with resilience and courage, we will continue to defend freedom and democracy and ensure peace, stability, and prosperity in the Pacific region.
    A translation of President Lai’s remarks follows:
    Talofa! [Greetings (Tuvaluan)] I extend a warm welcome to Prime Minister Teo, who is visiting Taiwan for the second time since taking office this February. In May, he attended the inauguration ceremony for Vice President Bi-khim Hsiao and myself. On this occasion, he is the chief guest for our National Day celebrations. We are delighted that Tuvalu is part of so many of Taiwan’s most important moments. Prime Minister Teo, we are truly thankful for how much you value and support our bilateral relations.
    Tuvalu spoke up for Taiwan at this year’s World Health Assembly and more recently at the United Nations General Assembly (UNGA), helping in our efforts to expand our international participation. At the UNGA, Prime Minister Teo actively urged the international community to recognize that UNGA Resolution 2758 does not preclude Taiwan’s participation in the UN system. I want to take this opportunity to sincerely thank Tuvalu for its staunch support and assistance.
    At the UNGA, Prime Minister Teo also described the double threat that Tuvalu faces due to climate change and sea level rise. Taiwan is a maritime nation as well, and we empathize deeply with Tuvalu. Having established a National Climate Change Committee directly under the Office of the President, we aim to combine the strengths of all sectors to enhance Taiwan’s adaptation mechanisms in response to extreme weather risks. And by boosting exchanges with other countries, we hope to share our experiences and policies.
    In recent years, Taiwan and Tuvalu have cooperated on a number of projects, including the Tuvalu Coastal Adaptation Project. And going forward, our nations will continue to address the challenges posed by climate change together. We will also establish even closer collaboration in such areas as medicine and public health, agriculture and fisheries, and ICT so as to mutually advance development and prosperity.
    Taiwan and Tuvalu are just like brothers – or taina, as you say in Tuvaluan. Thank you once again for your visit, which will help continue to deepen our diplomatic alliance. With resilience and courage, we will continue to defend freedom and democracy and ensure peace, stability, and prosperity in the Pacific region. I wish you all a fruitful and successful trip.
    Prime Minister Teo then delivered remarks, first conveying to President Lai and the people and government of Taiwan congratulations on our 113th National Day to be celebrated on Thursday. He indicated that Tuvalu shares the same month for its national day celebrations, having celebrated their 46th Day of Independence just the past week.
    Prime Minister Teo said that this is his second visit to Taipei. The first was his first overseas visit as prime minister, he noted, and he had come to witness President Lai’s inauguration. Prime Minister Teo said that he is doubly more honored this visit, as he was invited to be chief guest for this year’s National Day celebrations.
    Prime Minister Teo indicated that when his government was inaugurated in February, it immediately announced 21 priorities, one of those being to elevate and advance its relationship with Taiwan to a more comprehensive and integrated relationship. Our diplomatic relationship dates back to 1979, the prime minister said, which is the year just after Tuvalu gained independence. This year, he noted, we have celebrated 45 years of trusted friendship, and in the Pacific, Tuvalu is Taiwan’s oldest diplomatic ally. The prime minister said that our relationship is grounded firmly on democratic principles and values, which include respect for the rule of law, respect for democratic institutions and the doctrine of the separation of powers, and mutual respect for the integrity of national sovereignty.
    Prime Minister Teo stated that at the annual meeting of the UNGA, he made a very strong statement in support of Taiwan’s reintegration into the UN and related international systems. The UNGA’s main theme this year is to not leave anyone behind, he emphasized, so it was quite hypocritical for the UN system to not include Taiwan. The prime minister also remarked that there is nowhere in UNGA Resolution 2758 that makes any reference to Taiwan, and said that as long as he is in office, he and Tuvalu will continue to advance that strong advocation in support of Taiwan’s participation and reintegration into the global system.
    The prime minister went on to discuss the top priority and challenge of climate change – in particular, climate change-induced sea level rise, explaining that Tuvalu’s response to sea level rise is the Tuvalu Coastal Adaptation Project and saying he is very grateful for Taiwan’s continued support. With Taiwan’s reinvigorated climate efforts, he said, he looks forward to future cooperation. Prime Minister Teo then acknowledged the other types of assistance that Taiwan has provided in terms of training and scholarships.
    Prime Minister Teo concluded his remarks by thanking President Lai once again for the invitation to serve as chief guest in the Double Ten celebration, saying that he and his delegation very much look forward to the event and reiterating Tuvalu’s congratulations and best wishes for our 113th National Day.
    The delegation also included Minister of Foreign Affairs, Labour and Trade Paulson Panapa.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Results of the Scheme, Issue of New Shares and Change of Company Name and Ticker Code

    Source: GlobeNewswire (MIL-OSI)

    THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION FOR WHICH THE SAME COULD BE UNLAWFUL.
    This announcement is not an offer to sell, or a solicitation of an offer to acquire, securities in the United States or in any other jurisdiction in which the same would be unlawful. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

    9 October 2024

    ALLIANCE WITAN PLC

    Results of the Scheme

    New Shares to be issued and commence trading

    Change of Name to Alliance Witan PLC

    Change of Ticker Code to ALW

    Results of Scheme

    In connection with the combination of the assets of the Company with the assets of Witan Investment Trust PLC (“WTAN“) which was approved by WTAN Shareholders earlier today, the Board of Alliance Witan PLC (the “Company” or “ATST“) is pleased to announce that the Company will acquire approximately £1,539 million of net assets from WTAN in consideration for the issue of 120,949,382 New Shares to WTAN Shareholders in accordance with the Scheme.

    The number of New Shares to be issued was calculated based on an ATST FAV per Share of 1274.592460 pence and a WTAN FAV per Share of 286.293752 pence, producing a conversion ratio of approximately 0.224615 of a New Share for every WTAN Share rolling over, each calculated in accordance with the Scheme. As set out in the shareholder circular published by the Company on 12 September 2024 (the “Circular”), fractions of New Shares arising as a result of the conversion ratio will not be issued under the Scheme and entitlements to such New Shares will be rounded down to the nearest whole number.

    Issue of New Shares

    Applications have been made for the 120,949,382 New Shares to be admitted to listing on the closed-ended investment funds category of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange (together, “Admission“). It is expected that Admission will take place at 8.00am on 10 October 2024.

    Following the issue of the New Shares noted above, the Company’s share capital will consist of 401,816,982 Ordinary Shares (excluding treasury shares), with each Ordinary Share holding one voting right, and an additional 3,377,000 Ordinary Shares held in treasury.

    The figure of 401,816,982 Ordinary Shares may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in voting rights, or a change to their interest in the Company, under the Disclosure Guidance and Transparency Rules.

    Change of Name and Ticker Code

    As noted in the Circular, as part of the Scheme Proposals the name of the Company is being changed from ‘Alliance Trust PLC’ to ‘Alliance Witan PLC’ and the Company’s ticker code from ATST to ALW. The change of name has now taken effect following receipt of the requisite confirmation from the Registrar of Companies earlier today; while the change of ticker code will take effect from tomorrow morning when trading in the New Shares commences.

    Capitalised terms used but not defined in this announcement will have the same meaning as set out in the Circular.

    Enquiries

    Alliance Witan PLC
    Dean Buckley    		   Via Investec or Juniper Partners
    Juniper Partners Limited (Company Secretary)   +44 (0)131 378 0500
    Investec Bank plc (Lead Financial Adviser, Sole Sponsor and Corporate Broker)
    David Yovichic
    Denis Flanagan    		   +44 (0)20 7597 4000
    Dickson Minto (Joint Financial Adviser)
    Douglas Armstrong    		   +44 (0)20 7649 6823

    LEI: 213800SZZD4E2IOZ9W55

    Important Information
    This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

    The MIL Network –

  • MIL-OSI: Bitget Integrates GMCI Indices Enabling Curated-Secured Trading

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Oct. 09, 2024 (GLOBE NEWSWIRE) — Bitget, the world’s leading cryptocurrency exchange and Web3 company, has announced the addition of the GMCI indices to its futures market, enabling traders to access a diversified range of assets securely. The GMCI indices are curated based on strict criteria to ensure a verified overview of the market. For any coin to be included in the GMCI indices, it must be actively traded on at least one of eight major centralized exchanges (CEXs) with sufficient trading volume.

    Additionally, each coin must have the support of at least one of three custodians, ensuring the integrity and security of assets. The indices focus on coins with transparent circulating market capitalization. Circulating Market Cap information is obtained from CoinMarketCap and CoinGecko, and live pricing information is sourced from Coin Metrics, which also serves as GMCI’s third-party index calculation agent.

    The GMCI 30 index stands out by featuring the top 30 coins within the GMCI asset universe, excluding stablecoins, wrapped assets, and staked assets such as USDC, WBTC, and stETH. This index provides traders with exposure to a comprehensive set of the leading digital assets, capturing the broader market’s movements while maintaining diversification and reducing over-concentration in any single asset.

    “At Bitget we prioritize the security of our users while delivering world-class innovation. This aligns with Bitget’s broader strategy of accelerating utility and mass adoption of crypto within a safe and secure ecosystem,” said Gracy Chen, CEO at Bitget. “By providing a curated set of assets backed by trusted custodians, we aim to empower traders with informed, diversified options to enhance the ease of managing wealth,” she added.

    Rebalancing occurs monthly, on the last Friday of each month, with adjustments made according to the circulating market capitalization of the coins. This process ensures the indices remain up-to-date with market fluctuations, allowing them to reflect current trends and price movements accurately. While individual token positions are capped at 25% during rebalancing, they can float based on price performance, offering a dynamic representation of the market’s momentum throughout the month.

    The GMCI Meme index caters to the growing interest in meme coins, a segment that has garnered significant attention and trading volume within the crypto community. This index includes the top meme coins traded across selected exchanges, allowing users to hop on emerging memecoin trends securely.

    “Our collaboration with Bitget to launch a perpetual contract on the GMCI 30 index is a significant step in expanding the accessibility of our index solutions to a broader market. As a leading crypto exchange in terms of trading volume and innovation, Bitget shares our vision of delivering cutting-edge, reliable products to the trading community. This marks the beginning of further partnerships that will see GMCI indices used as the benchmark of choice for innovative trading products across leading platforms,” said Maarten Botman, CEO at GMCI.

    Offering exposure to a range of assets, GMCI indices help traders navigate diverse market segments. GMCI indices provide the robustness and transparency investors are accustomed to on the traditional financial markets while tapping into expertise in crypto much like Bitget. With this, Bitget users can now access GMCI indices including memecoins indices on the platform.

    To get started, please visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading, AI bot and other trading solutions. Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including being the Official Crypto Partner of the World’s Top Professional Football League, LALIGA, in EASTERN, SEA and LATAM, as well as a global partner of Olympic Athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/459f37c8-cd0b-4be2-a7ba-6fcfd6f5e43e

    The MIL Network –

  • MIL-OSI Economics: Group of Exceptional Students Graduate: 4th Cohort of Samsung-UWC Software Development Programme

    Source: Samsung

    At a graduation ceremony held on Tuesday, 08 October 2024, Samsung celebrated the achievements of the 4th Cohort in the University of the Western Cape (UWC) Software Development (SWD) programme. This Samsung sponsored programme aims to enhance the graduating students’ prospects of employment as well as address the problem of youth unemployment in the province and the country as a whole.
     

     
    South Africa, like many countries globally, grapples with the challenge of youth unemployment. This is supported by statistics indicating a 45,5% unemployment rate among young individuals (aged 15-34 years), in contrast to the national average of 32,9% in the first quarter of 2024”, according to Statistics SA.”  The Western Cape is no exception to this alarming trend.
     
    In response to the country’s youth unemployment issues and a way to assist government to address this challenge, Samsung launched a R280-million worth Equity Equivalent Investment Programme (EEIP) in 2019. The company is now celebrating five years of this EEIP programme’s sustained success. This EEIP programme is projected to have a measurable impact on job creation and a contribution of nearly R1-billion to the South African economy at large. Five years in and Samsung’s EEIP programme has managed to train 539 youth in SWD and artisanal skills.
     
    Jose Frantz, Deputy Vice Chancellor: research and innovation, University of the Western Cape said: “We firmly believe in the transformative power of higher education to empower youth. The Future-Innovation Lab at UWC exemplifies this commitment by equipping previously disadvantaged youth with the skills and experiences necessary to succeed in an AI-driven economy. By bridging the gap between education and industry, this initiative not only addresses the pressing issue of youth unemployment but also fosters a culture of innovation and resilience. As we celebrate the upcoming graduation of the fourth cohort, we recognize the importance of such programs in nurturing the next generation of leaders and change-makers. Together, we can create a future where every young person has the opportunity to thrive and contribute meaningfully to society.”
     
    This SWD programme that is part of Samsung’s EEIP has ensured sustained ICT investment in historically disadvantaged universities, which in turn has helped to enhance the prospects of employment in the country’s youth. Importantly, this SWD programme has provided an opportunity to previously disadvantaged youth to gain skills in software development and digital social innovation with the ultimate aim of opening doors to employment or further training. Samsung strives for a 100% absorption rate of all the students in its training programmes.
     
    Lenhle Khoza, Manager for B-BBEE and Transformation at Samsung South Africa said: “As Samsung, we would like to congratulate this group of brilliant students. From the start of this programme, our focus has been on capacity building in ICT training and development. With these software development skills, we are confident that these UWC students will now be able to play a crucial role in the digital economy.”
     

     
    For Samsung, this graduation of the fourth cohort in this SWD programme is a clear indication of how successful partnerships with institutions of higher learning such as UWC are helping to address the country’s societal challenges through the development of digital solutions.
     
    And according to UWC, the 41 students that participated in the SWD programme have gained proficiency in high-demand coding languages, software architecture, web and mobile app development as well as database management and more. The hands-on and project-based approach has ensured that graduates emerge not just with theoretical knowledge, but also with the practical skills demanded by the modern job market.
     
    With hands-on, real-world experience provided through creativity and fun in a learning and working environment, these UWC students will now be able to successfully apply their new skills, which are highly sought-after in the country’s digital economy.
     

     
    “As Samsung, we’ve always prioritised the need to demonstrate a measurable outcome on the country’s youth in all our education-focused initiatives. This SWD is no exception, in collaboration with UWC – we have ensured that these graduating students are employable and that some are able to attain permanent employment through our partner network,” concluded Khoza.
    _________________________
    *Source – Unemployment in South Africa: A Youth Perspective | Statistics South Africa (statssa.gov.za)

    MIL OSI Economics –

  • MIL-OSI USA: Attorney General James Sues TikTok for Harming Children’s Mental Health

    Source: US State of New York

    NEW YORK – New York Attorney General Letitia James and California Attorney General Rob Bonta today co-led a bipartisan coalition of 14 attorneys general in filing lawsuits against the social media platform TikTok for misleading the public about the safety of its platform and harming young people’s mental health. The lawsuits, filed individually by each member of the coalition, allege that TikTok violated state laws by falsely claiming its platform is safe for young people. In fact, many young users are struggling with poor mental health and body image issues due to the platform’s addictive features and are getting injured, hospitalized, or dying because of dangerous TikTok “challenges” that are created and promoted on the platform. Attorney General James and the bipartisan coalition of attorneys general are seeking to stop TikTok’s harmful practices and impose financial penalties on the social media company. 

    “Young people are struggling with their mental health because of addictive social media platforms like TikTok,” said Attorney General James. “TikTok claims that their platform is safe for young people, but that is far from true. In New York and across the country, young people have died or gotten injured doing dangerous TikTok challenges and many more are feeling more sad, anxious, and depressed because of TikTok’s addictive features. Today, we are suing TikTok to protect young people and help combat the nationwide youth mental health crisis. Kids and families across the country are desperate for help to address this crisis, and we are doing everything in our power to protect them.” 

    “Our investigation has revealed that TikTok cultivates social media addiction to boost corporate profits. TikTok intentionally targets children because they know kids do not yet have the defenses or capacity to create healthy boundaries around addictive content,” said California Attorney General Rob Bonta. “When we look at the youth mental health crisis and the revenue machine TikTok has created, fueled by the time and attention of our young people, it’s devastatingly obvious: our children and teens never stood a chance against these social media behemoths. TikTok must be held accountable for the harms it created in taking away the time — and childhoods — of American children.”

    According to the lawsuits filed by Attorney General James and the bipartisan coalition, TikTok’s underlying business model focuses on maximizing young users’ time on the platform so the company can boost revenue from selling targeted ads. TikTok uses an addictive content-recommendation system designed to keep minors on the platform as long as possible and as often as possible, despite the dangers of compulsive use.

    TikTok’s Addictive Features Worsen Young Users’ Mental Health

    TikTok uses a variety of addictive features to keep users on its platform longer, which leads to poorer mental health outcomes. Multiple studies have found a link between excessive social media use, poor sleep quality, and poor mental health among young people. According to the U.S. Surgeon General, young people who spend more than three hours per day on social media face double the risk of experiencing poor mental health outcomes, including symptoms of depression and anxiety. 

    Some of these addictive features include: 

    • Around-the-clock notifications that can lead to poor sleep patterns for young users; 
    • Autoplay of an endless stream of videos that manipulates users into compulsively spending more time on the platform with no option to disable Autoplay;
    • Attention-grabbing content that keeps young users on the platform longer;
    • TikTok “stories” and TikTok live content that is only available temporarily to entice users to tune in immediately or lose the opportunity to interact;
    • A highlighted “likes” and comments section as a form of social validation, which can impact young users’ self-esteem; and
    • Beauty filters that alter one’s appearance and can lower young user’s self-esteem. 

    Beauty filters have been especially harmful to young girls, with studies reporting that 50 percent of girls believe they do not look good without editing their features and 77 percent saying they try to change or hide at least one part of their body using these filters. Beauty filters can cause body image issues and encourage eating disorders, body dysmorphia, and other health-related problems.  

    TikTok Challenges Lead to Dangerous Outcomes

    TikTok challenges are viral videos that encourage users to perform certain activities, some of which have been harmful and sometimes deadly for young users. 

    In one example, a 15-year-old boy died in Manhattan while “subway surfing,” a trend where people ride or “surf” on top of a moving subway car. After he passed away, his mother found videos on his TikTok account about subway surfing. 

    Another example of a dangerous TikTok challenge is the Kia Challenge, videos that show users how to hack the ignition to start and steal Kia and Hyundai car models, which has led to thousands of car thefts. In October 2022, four teenagers were killed in a car crash in Buffalo that police suspect was the result of the TikTok Kia Challenge. A Kia Forte was also stolen in New York City and crashed into a house in Greenwich causing significant damage to both the car and the residence. The ignition was damaged consistent with descriptions in the TikTok Kia Challenge.

    TikTok Profits from Children’s Data

    TikTok also violates the Children’s Online Privacy Protection Act (COPPA), a federal law designed to protect children’s data on the internet. TikTok actively collects and monetizes data on users under 13 years old, in violation of COPPA, and does so without parental consent. Researchers estimate that 35 percent of TikTok’s U.S. ad revenue is derived from children and teenagers. While TikTok claims to only allow users over age 13 to access all of its features, TikTok’s deficient policies and practices have knowingly permitted children under the age of 13 to create and maintain accounts on the platform.

    TikTok Falsely Claims Effectiveness of Safety Tools

    TikTok falsely claims that its platform is safe for young users and has misrepresented the effectiveness of its so-called safety tools that are intended to address some of these concerns. Attorney General James’ lawsuit alleges that TikTok also violated New York’s consumer protection laws by misrepresenting its safety measures, including: 

    • Misleading users about its 60-minute screen time limit that it adopted to address concerns of compulsive use of its platform. TikTok deceptively advertised that teens can have a 60-minute screen time limit on the app. However, after using TikTok for 60 minutes, teens are simply prompted to enter a passcode to continue watching videos.  
    • Mispresenting the effectiveness of its “Refresh” and “Restricted Mode” features. TikTok claims that users can “Refresh” the content the recommendation system feeds them and that they can limit inappropriate content through “Restricted Mode.” However, those features do not work as TikTok claims. 
    • Failing to warn young users about the dangers of its beauty filter. 
    • Misrepresenting that its platform is not directed toward children. TikTok publicly claims that it is not for children under 13, however, the platform features child-directed subject matter, characters, activities, music, and other content, as well as advertisements directed to children.

    Through these lawsuits, Attorney General James and the bipartisan coalition of attorneys general are using state laws to stop TikTok from using these harmful and exploitative tactics. In addition, the lawsuits seek to impose financial penalties, including disgorgement of all profits resulting from the fraudulent and illegal practices, and to collect damages for users that have been harmed. 

    Joining Attorney General James and California Attorney General Bonta in filing today’s lawsuit are the attorneys general of Illinois, Kentucky, Louisiana, Massachusetts, Mississippi, New Jersey, North Carolina, Oregon, South Carolina, Vermont, Washington, and the District of Columbia. Each attorney general filed in their own state jurisdiction.

    Today’s lawsuit is Attorney General James’ latest effort to hold social media companies accountable and protect children online. In September 2024, Attorney General James co-led a bipartisan coalition of 42 attorneys general in urging Congress to implement warning labels on social media platforms as called for by the United States Surgeon General. In June 2024, nation-leading legislation advanced by Attorney General James to combat addictive social media feeds and protect kids online was signed into law in New York. In March 2024, Attorney General James led a bipartisan coalition of 41 attorneys general in urging Meta to address the rise of Facebook and Instagram account takeovers by scammers and frauds. In December 2023, Attorney General James led a coalition of 22 attorneys general urging the U.S. Supreme Court to make it clear that states have the authority to regulate social media platforms. In October 2023, Attorney General James and a bipartisan coalition of 32 attorneys general filed a federal lawsuit against Meta for harming young people’s mental health and contributing to the youth mental health crisis.

    For New York, this case is being handled by Senior Enforcement Counsel Kevin Wallace and Assistant Attorney General Alex Finkelstein of the Executive Bureau; Assistant Attorney General Nathaniel Kosslyn, Assistant Attorney General Laura Mumm, and Assistant Attorney General Fellow Anushua Choudhury of the Bureau of Internet and Technology, under the supervision of Deputy Bureau Chief Clark Russell and Bureau Chief Kim A. Berger. The Bureau of Internet and Technology is a part of the Division for Economic Justice, which is led by Chief Deputy Attorney General Chris D’Angelo and overseen by First Deputy Attorney General Jennifer Levy.

    MIL OSI USA News –

  • MIL-OSI: EMGS – Vessel activity and multi-client sales update for the third quarter 2024

    Source: GlobeNewswire (MIL-OSI)

    Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and multi-client sales during the quarter approximately 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate.  

    At the end of the third quarter 2024 the Company had one vessel on charter, the Atlantic Guardian. The Atlantic Guardian completed transit from Brazil to Norway and commenced acquisition of previously announced prefunded multi-client projects including the OBN seismic survey.

    The utilization for the third quarter was 40% compared with 0% for the third quarter 2023. 

    EMGS had one vessel in operation and recorded 3.0 vessel months in the quarter. In the third quarter 2023, the Company recorded 3.0 vessel months.

    Multi-client revenues in the third quarter
     The Company expects to record approximately USD 0.5 million in late sale multi-client revenue in the third quarter of 2024. The revenue for the fully prefunded multi-client surveys, acquired in the third quarter, is expected to be recognized in the fourth quarter of this year upon final data delivery.   

    EMGS will publish its third quarter 2024 financial results on Thursday 7 November 2024 prior to 07:30 local time (Norway). A recorded presentation will also be made available over the Internet. To access the presentation, please go to the Company’s homepage (http://www.emgs.com) and follow the link.

    Contact
     Anders Eimstad, Chief Financial Officer, +47 948 25 836

    This information is published in accordance with the Norwegian Securities Trading Act § 5-12.

    About EMGS
     EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The Company’s services enable the integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency and reduces risks and the finding costs per barrel. CSEM technology can also be used to detect the presence of marine mineral deposits (primarily Seabed Massive Sulphides) and EMGS believes that the technology can also be used to estimate the mineral content of such deposits. The Company is undertaking early-stage initiatives to position itself in this future market.

    The MIL Network –

  • MIL-OSI: WISeKey to Launch Enhanced WISePhone.CH 2025 Edition with Advanced Capabilities

    Source: GlobeNewswire (MIL-OSI)

    WISeKey to Launch Enhanced WISePhone.CH 2025 Edition with Advanced Capabilities

    Launch Slated for Q2 2025

    Video PoC of WISePhone.CH is Available at https://lnkd.in/e97fwkuD

    Additional Information Available at http://www.WISePhone.CH

    Geneva, Switzerland – October 8, 2024: WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN, NASDAQ: WKEY), a leader in cybersecurity, AI, Blockchain, and IoT operating as a holding company, today announced the upcoming launch of its enhanced WISePhone.CH 2025 Edition. Building upon its 2017 introduction, WISePhone.CH was the first secure blockchain phone aimed at providing enterprise-grade protection for digital communications. This new edition, slated for release in Q2 2025, promises significant advancements in security and performance.

    WISePhone.CH 2025 Edition will introduce a comprehensive suite of new features, designed to protect both individual and IoT device data using cutting-edge blockchain technology. As an all-in-one secure platform, it offers superior privacy and security for both personal and business use, emphasizing data protection through advanced encryption and secure storage.

    New Features and Enhanced Security

    The WISePhone.CH 2025 edition is designed to be an affordable, versatile tool that enhances mobility while ensuring the confidentiality of intellectual property and sensitive communications. With the ability to transform public networks and mobile devices into ultra-secure communication channels, it is an ideal solution for enterprises seeking to strengthen their cybersecurity posture.

    Powered by WISeKey’s proprietary security technology and operating on an optimized Android OS, WISePhone.CH supports secure communications via encrypted email and voice services, secure digital identity management, and cloud-based data protection. The integrated Personal Cybersecurity Hub offers complete control over application permissions, providing separate, secure environments for personal and business data.

    Pre-Loaded with WISeKey’s Suite of Secure Applications

    WISePhone.CH 2025 Edition will come pre-installed with WISeKey’s suite of security solutions, including WISeID and WISeTalk. These applications provide encrypted voice calls, conference calls, secure texting, and file transfer capabilities, ensuring end-to-end security. In a major development, WISePhone.CH will be the first smartphone to be powered by SEALCOIN, WISeKey’s proprietary cryptocurrency and blockchain platform, enabling users to engage in secure transactions on-the-go.

    Cutting-Edge Hardware and Cryptocurrency Integration

    The phone will feature an integrated crypto wallet and a Hardware Security Module (HSM), delivering an unmatched level of security for data storage and financial transactions. It will also support SuisseID Digital Identity, enabling qualified cloud-based digital signatures in compliance with Swiss government regulations and GDPR standards.

    Reinforced Protection through WISeID and WISeAccess

    The WISeID feature secures users’ digital assets and personal data in an encrypted enclave, backed by WISeKey’s secure Swiss cloud. The WISeAccess multi-factor authentication system further enhances security, ensuring that only authorized individuals can access the full suite of WISePhone.CH applications.

    WISeKey continues to push the boundaries of cybersecurity technology, ensuring that businesses and individuals worldwide remain safe from ever-evolving digital threats.

    About WISeKey 

    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a Swiss-based computer infrastructure company specializing in cybersecurity, digital identity, blockchain, Internet of Things (IoT) solutions, and post-quantum semiconductors. As a computer infrastructure company, WISeKey provides secure platforms for data and device management across industries like finance, healthcare, and government. It leverages its Public Key Infrastructure (PKI) to ensure encrypted communications and authentication, while also focusing on next-generation security through post-quantum cryptography.

    WISeKey’s work with post-quantum semiconductors is aimed at future-proofing its security solutions against the threats posed by quantum computing. These advanced semiconductors support encryption that can withstand the computational power of quantum computers, ensuring the long-term security of connected devices and critical infrastructure. Combined with its expertise in blockchain and IoT, WISeKey’s post-quantum technologies provide a robust foundation for secure digital ecosystems at the hardware, software, and network levels.

    WISeKey operates as a holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd 
    Company Contact:  Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com    		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611 / lcati@equityny.com
    Katie Murphy
    Tel: +1 212 836-9612 / kmurphy@equityny.com

    The MIL Network –

  • MIL-OSI Security: Mississippi Man Charged in Sextortion Scheme Involving More Than 40 Victims

    Source: Federal Bureau of Investigation (FBI) State Crime News

    Jackson, Miss. – A Jackson man was arrested today in Jackson on federal charges relating to an alleged “sextortion” scheme that targeted multiple victims, including minors.

    According to a nine-count indictment unsealed this week, Marquez Cameron Jones Weston, 22, allegedly operated a “sextortion” scheme in which he engaged in cyberstalking, interstate threats, extortion, attempted production of child pornography, and transportation of child pornography over the internet. As part of the scheme charged in the indictment, Weston attempted to and did extort money and nude and sexually explicit photographic images from at least 47 different identified female individuals over the internet, with more unidentified. Several of these females were minors.  The indictment alleges Weston committed these crimes from July 2023 through February 2024.

    “We are seeing a troubling increase throughout the nation of ‘sextortion’ as criminals, like this defendant, use information they gain through on-line communications, hacking, or other means to blackmail juveniles and other victims into giving them pornography,” said U.S. Attorney Todd Gee. “I encourage parents to be aware of who their children are communicating with on-line, and all internet users to be cautious about sharing their personal information on-line.”

    “Today’s arrest demonstrates the steadfast commitment of the FBI, USAO and our law enforcement partners in protecting our communities from being victimized by sextortion,” said FBI Special Agent in Charge Robert Eikhoff.  “Marquez Cameron Jones Weston’s deliberate actions in targeting the innocence of our youth will not be tolerated. The FBI will continue to aggressively investigate and bring predatory individuals, like Mr. Weston, to justice.”

    Weston made his initial court appearance today before U.S. Magistrate Judge Andrew S. Harris of the U.S. District Court for the Southern District of Mississippi. If convicted, he faces a mandatory minimum sentence of 15 years in prison.

    In February, a federal grand jury named Weston in a separate indictment charging him with possession of child pornography. If convicted of that charge, he faces a maximum sentence of 20 years in prison. 

    U.S. Attorney Todd W. Gee of the Southern District of Mississippi and Special Agent in Charge Robert A. Eikhoff of the Federal Bureau of Investigation made the announcement.

    The FBI is investigating the case with assistance from the Sam Houston State University Police Department. 

    Assistant U.S. Attorney Kimberly T. Purdie is prosecuting the case.

    The FBI provides the following six tips on how people can protect themselves from sextortion schemes:

    • Be selective about what you share online. If your social media accounts are open to everyone, a predator may be able to figure out a lot of information about you.
    • Be wary of anyone you encounter for the first time online. Block or ignore messages from strangers.
    • Be aware that people can pretend to be anything or anyone online. Videos and photos are not proof that people are who they claim to be. Images can be altered or stolen. In some cases, predators have even taken over the social media accounts of their victims.
    • Be suspicious if you meet someone on one game or app and this person asks you to start talking on a different platform.
    • Be in the know. Any content you create online—whether it is a text message, photo, or video—can be made public. And nothing actually “disappears” online. Once you send something, you don’t have any control over where it goes next.
    • Be willing to ask for help. If you are getting messages or requests online that don’t seem right, block the sender, report the behavior to the site administrator, or go to an adult. If you have been victimized online, tell someone.

    If you, your child, or someone you know is being exploited via sextortion, contact your local FBI field office, call 1-800-CALL-FBI (1-800-225-5324), or report it online at the Internet Crime Complaint Center (IC3). Additional resources can found at Sextortion and Financially Motivated Sextortion — FBI.  If you believe you are a victim in this particular case, please also contact the United States Attorney’s Office for the Southern District of Mississippi.

    U.S. Attorney Todd Gee recently recorded an Internet Safety PSA warning about the dangers of online predators. 

    An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

     

    MIL Security OSI –

  • MIL-OSI Security: Five Arrested, Accused of Targeting Elderly Victims in Tech Support Scam

    Source: Federal Bureau of Investigation (FBI) State Crime News

    ST. LOUIS – Five people have been arrested on an indictment that accuses them of stealing at least $8 million from elderly victims in at least ten states via a tech support scam involving gold bars.

    Dariona Lambert, 22, Zhamoniq Stevens, 23, Chintankumar Parekh, 51, Mehul Darji, 41, and Sital Singh, 42, were each charged in a October 4 superseding indictment with one count of conspiracy to commit wire fraud. Lambert, Stevens and Parekh were originally indicted on that charge in June.

    Singh surrendered Monday in Newark, in U.S. District Court for the District of New Jersey. Parekh and Darji were both arrested last week in the Eastern District of Michigan. Lambert and Stevens were arrested on the initial indictment and have pleaded not guilty.

    The indictment accuses the conspirators of contacting elderly victims via telephone calls and electronic messages, falsely claiming that the victims’ savings and retirement accounts had been compromised. They told their victims to transfer funds to the conspirators to keep their accounts secure, the indictment says. Sometimes, the transfers came via gold bars that had been bought by victims and then picked up by couriers working for the fraudsters, the indictment says. Couriers worked with a “handler,” who arranged transportation for the couriers and shipped the gold bars to others, the indictment says.

    An 82-year-old St. Louis woman was one of the victims, having been told by scammers pretending to be from a computer software support team that her financial accounts had been compromised, the indictment says. They said she needed to pay money to prevent her funds from being stolen, the indictment says. The scammers had the victim open new bank accounts, transfer her money into those accounts and wire money overseas, in addition to buying about $250,000 worth of gold bars, the indictment says. On May 1, 2024, Lambert flew from Gainesville, Florida to St. Louis, the indictment says. Parekh rented a car and drove Lambert to a parking lot near the victim’s home, it says. Lambert then took an Uber to the victim’s home to retrieve the gold bars, but was intercepted by law enforcement agents, the indictment says. Lambert sent a warning message via WhatsApp to her conspirators, saying “police,” it says.

    Lambert and Stevens were couriers, and were paid in cash, the indictment says. Parekh, Darji and Singh were handlers and travelled to victims’ residences in order to pick up gold bars, it says. Parekh worked as a handler in gold bar pickups from victims in Yuma and Scottsdale in Arizona; Placentia and La Jolla in California; Largo, Florida; Chapel Hill, N.C.; and Pittsburgh, Penn., the indictment says. Singh worked a handler in gold bar pickups from victims in Collierville, Tenn.; Universal City, Texas; and Greendale, Wisc., it says. Darji worked as a handler in gold bar pickups from the Scottsdale victims and received three separate FedEx packages containing gold bars obtained from the Largo victim, it says. Lambert worked as a courier in Scottsdale; Placentia; La Jolla; Largo; Universal City; Hanover, Mass.; and Erie, Penn., it says. Stevens worked as a courier in gold bar pickups from victims in Yuma; La Jolla; Collier; Largo; Greendale; Oxnard, Calif.; Long Island, N.Y.; and Cincinnati, Ohio, the indictment says.

    “This case is another example of the FBI being able to stop the scam before a victim gets robbed out of his or her life savings,” said Special Agent in Charge Ashley T. Johnson of the FBI St. Louis Division. “We’ve been successful in protecting victims when family members, friends or businesses become suspicious and immediately notify the FBI in time for us to intervene.”

    A motion seeking to have Parekh and Darji held in jail until trial says both are in the United States unlawfully, Parekh having overstayed his work visa and Darji having been removed from the country in 2014. When Parekh was alerted by Lambert that she had been apprehended by the police, he fled Missouri for Pittsburgh, Penn., it says.

    Charges set forth in an indictment are merely accusations and do not constitute proof of guilt.  Every defendant is presumed to be innocent unless and until proven guilty.

    The wire fraud conspiracy charge carries a penalty of up to 30 years in prison, a $1 million fine or both prison and a fine.

    This case was investigated by the FBI and Homeland Security Investigations in Tampa, Florida. Assistant U.S. Attorney Gwen Carroll is prosecuting the case.

    If someone you know is a victim of a cyber scam, report it to the FBI. You can file the complaint online with the FBI’s Internet Crime Complaint Center at http://www.ic3.gov or use 1-800-CALL-FBI.
     

    MIL Security OSI –

  • MIL-OSI New Zealand: BNZ launches new anti-scam tool to lock scammers out of online banking

    Source: BNZ statements

    BNZ is rolling out its latest anti-scam and fraud measure, launching an ‘online banking lock’ feature which gives customers the ability to disable all online banking activity and lock access to their online banking if they suspect a scammer has gained access to their accounts.

    “BNZ is continually looking for new ways to enhance protection for customers and combat criminal scammers,” says BNZ’s Head of Financial Crime Ashley Kai Fong.

    “While anyone who thinks they’re being scammed should call their bank straight away, this new tool – available in the BNZ app – gives customers the ability to lock their online banking while they’re making the call, potentially speeding up the process to lock their accounts and shut scammers out,” says Kai Fong.

    Once the online account lock is activated, it disables all current internet banking and BNZ mobile account activity and locks all access.

    To prevent scammers from regaining access, customers will need to verify their identity at a BNZ branch to regain access to their accounts.

    Customers will still be able to use their cards online, instore and at ATMs while their account is locked, unless they have also chosen to block their card. To minimise disruption, scheduled payments, like rent or mortgage payments, will still go out as scheduled.

    Kai Fong says BNZ invests tens of millions of dollars every year in scam and fraud protection measures.

    “While there is no silver bullet in the fight against scammers, this is another tool in the anti-scam and fraud toolbox to help protect our customers. It’s just one of a number of new features, BNZ has introduced, including:

    • introducing a way for customers to verify their identity through the BNZ app when prompted by a BNZ staff member to confirm it is the bank calling
    • introducing additional two-factor authentication (2FA) within internet banking for high-risk actions such as changing personal contact details, creating a new payee, editing an existing payee, or making payments to unsaved payees. This is required regardless of whether a customer has already completed 2FA in their current session.
    • deploying ID readers in branch to help identify fraudulent documents

    Kai Fong says customers also have a role to play in keeping themselves safe from scams and fraud:

    • keeping account details, passwords and pin numbers safe
    • never clicking on links or attachments sent by someone you don’t know or that seem out of character for someone you do know
    • keeping your computer and phone security software up to date
    • contacting your bank as soon as possible if you think you’ve been scammed

    Top tips to stay scam savvy – BNZ will never:

    • email or text you links to online banking and ask you to log in
    • send you a text message with a link to a website, or link to call us
    • ask you for information about your PIN number, bank account number, or password
    • ask you to verbally share the authentication codes sent to you by text or email, even with a BNZ staff member
    • ask you to transfer money to help catch a scammer or a bank employee who is scamming customers
    • send you a text message about account issues with a link to log in
    • ask you to download software to access your Internet Banking remotely
    • use international phone numbers to call or send you notifications.

    The post BNZ launches new anti-scam tool to lock scammers out of online banking appeared first on BNZ Debrief.

    MIL OSI New Zealand News –

  • MIL-OSI Security: Saint John  — Individual charged following child pornography investigation

    Source: Royal Canadian Mounted Police

    The New Brunswick RCMP’s Internet Child Exploitation (ICE) Unit has charged a 39-year-old man from Saint John, N.B., with possession of child pornography, and transmitting child pornography.

    The investigation began in May 2023 when police received information from RCMP’s National Child Exploitation Crime Centre.

    On November 2, 2023, members of the ICE Unit, along with the Saint John Police force and the RCMP’s Digital Forensic Services executed a search warrant at a residence in Saint John as part of the investigation. Police seized several electronic devices and a 39-year-old man was arrested at the scene. He was later released on conditions pending a future court appearance.

    On October 4, 2024, 39-year-old Jimmy Davis was charged with possession of child pornography and transmitting child pornography. He is scheduled to appear back in court on November 13, 2024.

    The New Brunswick RCMP’s Internet Child Exploitation Unit includes members from the Saint John Police Force and the Kennebecasis Regional Police Force.

    If you are a victim, or have any information related to similar crimes, please contact your local police. If you have information that may assist an investigation and would like to remain anonymous, please contact Crime Stoppers at 1-800-222-TIPS (8477), by downloading the secure P3 Mobile App, or by Secure Web Tips at http://www.crimenb.ca.

    The investigation is ongoing.

    MIL Security OSI –

  • MIL-Evening Report: Bhutan’s king is set to visit Australia for the first time. Here’s why thousands will line the streets to see him

    Source: The Conversation (Au and NZ) – By Tashi Dema, PhD Candidate in Language and Politics, University of New England

    Deki, a 23-year-old resident of the remote town of Armidale, NSW, has been sleepless with excitement since the Bhutanese embassy in Canberra announced an upcoming visit from Bhutan’s fifth monarch, King Jigme Khesar Namgyel Wangchuck.

    King Jigme Khesar will be visiting from October 10 to 16. It will be his first time in Australia, as well as the first ever visit from a Bhutanese head of state.

    According to Bhutan’s ministry of foreign affairs and external trade, the king will meet with Australian government officials, business leaders and the Bhutanese community during his trip. Audiences with the king are scheduled in Sydney on October 12, Canberra on October 13, and Perth on October 16.

    Deki will be travelling to Sydney by train on October 11 with about 60 people from Armidale’s Bhutanese community. The journey will take more than eight hours. Some residents will fly on the morning of October 12.

    The Armidale residents have practised dances to present to the royal entourage. Their enthusiasm is palpable. With more than 35,000 Bhutanese people living in Australia, the embassy received an overwhelming number of registrations for the royal audience.

    Chhimi Dorji, president of the Association of Bhutanese in Perth, said many Bhutanese residents applied for leave the moment the royal visit was announced. He said the community’s overwhelming excitement signifies a deep love and respect for the king.

    A deep reverence for the king

    Devotion to the king is ingrained in Bhutanese society; he is even considered a sacred figure. This love and respect stems from a view of the monarchy as a symbol of pride and unity.

    My ongoing research on language and politics in Bhutan – as well as the many years I spent working there as a journalist – has revealed a genuine admiration for the king among the public. Research participants in rural Bhutan told me politicians should learn from the king in order to serve their people.

    In 2008, King Jigme Khesar facilitated Bhutan’s transition from an absolute monarchy to a democratic constitutional monarchy. As party politics fragmented the small nation and divided people along party lines, the monarchy was seen as a beacon of hope.

    The Bhutanese public’s devotion to its king defies theories which claim that the concept of the monarchy more broadly is becoming obsolete.

    Serving the people

    One reason King Jigme Khesar is so revered is because of his role in helping to build and advance Bhutan. During the pandemic, he was hailed for implementing pandemic response strategies and for visiting every nook and corner of the country to comfort citizens.

    He has also implemented programs that provide important public services. For instance, Desuung, a volunteer training program that started in 2011, delivers volunteers for a variety of projects such as disaster operations and charity events. Another national service program, Gyalsung, was started this year.

    Currently, the king is planning to develop the world’s first mindfulness city in Gelephu – a southern plain in Bhutan spanning more than 1,000 square kilometres – with hopes to attract foreign investment and encourage emigrated Bhutanese people to return.

    Ahead of the royal visit, Sydney resident Tshering Palden said he and his children were clearly excited to greet King Jigme Khesar.

    Besides other things, I am excited to hear about the developments around Gelephu Mindfulness City and how Bhutanese living abroad like me can be part of His Majesty’s brain child and the long-term nation building […]

    Foreigners are also intrigued and very interested to know about the project and ask us a lot about it.

    The Australian dream

    As a landlocked country that really only made itself known to the world in 1999 (after internet and television were finally introduced), Bhutan is something of an enigma.

    It is touted as the world’s happiest country, largely due to its uptake of a unique metric called “gross national happiness” in the 1970s. In 1972, King Jigme Singye Wangchuck (King Jigme Khesar’s father) proclaimed the country’s gross national happiness was an even more important measure of progress than gross domestic product (GDP).

    Today, however, the tiny Himalayan country of about 800,000 people faces an existential crisis due to widespread unemployment and huge numbers of youth and young professionals moving overseas for a better future.

    Australia remains a top destination for Bhutanese residents – and currently has more Bhutanese diaspora than any country in the world. Bhutan is also said to be Australia’s 14th largest source country for international students.

    But despite living so far away, Bhutanese diaspora in Australia remain deeply rooted to their identity, culture and devotion to the monarchy. Most of them still celebrate the king’s birthday on February 21 each year, as well as Bhutan’s National Day on December 17.

    Meanwhile, Deki – who has portraits of Jigme Khesar in her home in central Bhutan – says being able to meet the king will be a “dream come true”.

    Tashi Dema does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Bhutan’s king is set to visit Australia for the first time. Here’s why thousands will line the streets to see him – https://theconversation.com/bhutans-king-is-set-to-visit-australia-for-the-first-time-heres-why-thousands-will-line-the-streets-to-see-him-239932

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Lights, Camera, Awards!

    Source: Government of India

    Lights, Camera, Awards!

    President of India Smt. Droupadi Murmu confers 70th National Film Awards

    Mithun Chakraborty receives Dada Saheb Phalke Award for his Lifetime achievement in Indian cinema

    President Draupadi Murmu says the films & social media are the most powerful medium to change society

    Government to set up India’s first Indian Institute of Creative Technology in Mumbai soon

    Government’s vision is to develop the film industry around three key pillars; To develop talent pool, Infrastructure & simplification of process involved in filmmaking: Sh. Ashwini Vaishnaw

    Posted On: 08 OCT 2024 9:27PM by PIB Delhi

    “Never allow your dreams to sleep, even if you are asleep”. These are the golden words of film legend Mithun Da to young awardees who received the 70th National Film Award in various categories in the national capital. The entire auditorium of Vigyan Bhawan rose to their feet in a standing ovation when President of India Smt. Droupadi Murmu honoured Mithun Chakraborty with the Dada Saheb Phalke award for his outstanding contribution to Indian cinema. Addressing the gathering, Mithun Da, shared the experiences of his struggle in the film industry. He recalled the discrimination he faced due to his dusky complexion and shared his dancing success mantra with the awardees and audience present in the auditorium. His message to the aspiring young talent artists was to identify their talent while chasing their dreams.

    At the 70th National Film Awards ceremony, President of India Smt. Draupadi Murmu said that the films & social media are the most powerful medium to change society. She also praised the Ministry of Information and Broadcasting for giving a level playing platform through these awards to the budding talents where they can come at the same platform along with the big names and production houses in the country.

    The Award ceremony saw the participation of award winners such as Manoj Vajpayee, Vishal Bhardwaj, Neena Gupta, Karan Johar, Rishabh Shetty etc. Other personalities from Indian cinema such as Sharmila Tagore, Prasoon Joshi, etc were also present. Esteemed personalities such as A.R. Rahman and Mani Ratnam were among the awardees who received the prestigious National Film Award for the seventh time, a testament to their enduring brilliance and influence on the industry. Their achievements continue to inspire both aspiring and established artists in the ever-evolving landscape of Indian cinema.

    Union Minister for Information & Broadcasting (I&B), Railways and Electronics and Information Technology, Shri Ashwini Vaishnaw, Union Minister of State for I&B Dr. L. Murugan, Sh. Sanjay Jaju, Secretary, Ministry of I&B, Shri Rahul Rawail, Sh. Nila Madhab Panda, & Shri Gangadhar Mudaliar as Jury were also present at the event.

    Sh. Ashwini Vaishnaw warmly welcomed all the attendees, expressing his honor to be part of this prestigious event, which celebrates the brilliance of filmmakers, actors, technicians, and all stakeholders involved in the art of cinema.  He also paid tribute to legendary actor Mithun Chakraborty, who was honored with the prestigious Dadasaheb Phalke Award for his extraordinary contributions to Indian cinema and society. “Mithunda, your life is your message. You are an icon for our society, both on and off the screen,” he said, acknowledging the veteran actor’s exemplary career and public service.

    Shri Vaishnaw highlighted the remarkable achievements of nine debut directors, applauding their bold storytelling, and celebrated the role of young innovators, whether in the film industry or startups, in driving the creative economy.

    Indian Institute of Creative Technology (IICT)

    To further support the growth of creative industries, Sh. Vaishnaw  announced a landmark initiative – the establishment of the first Indian Institute of Creative Technology (IICT) in Mumbai. Modeled after prestigious institutions like the IITs and IIMs, which have produced some of the world’s finest technical and managerial talent (some of them leading the big giants like Google, Microsoft, etc), the IICT will focus on developing creative skills and knowledge. This new institution will serve as a hub for innovation, creativity, and talent development, ensuring India stays at the forefront of the global creative economy.

    He also outlined the government’s vision to develop the film industry with three key pillars:

    1. Development of Talent Pipeline: Recognizing the increasing role of technology in filmmaking, he emphasized the need for a strong talent pipeline. Drawing parallels with India’s success in IT and semiconductor sectors, he highlighted the importance of nurturing talent in creative technologies, with IICTs playing a pivotal role.

    2. Infrastructure Development: Shri Vaishnaw stressed the need for world-class infrastructure to support the evolving needs of the film industry. He invited industry leaders to contribute ideas for creating a foundation that will propel Indian cinema to global standards.

    3. Simplification of Processes: The Minister discussed simplifying permissions for filmmakers, making it easier for them to use diverse locations, such as railways, forests, and archaeological sites, in their projects. Streamlining these processes will encourage creativity and reduce bureaucratic hurdles.

    Shri Vaishnaw also emphasized the importance of preserving India’s rich film heritage, from classic films to posters and newspaper clippings. He shared that decisions have been made to safeguard these invaluable treasures for future generations.

    On this occasion, Secretary Shri Sanjay Jaju, also mentioned that 309 films in 32 different languages were received in Feature Films category and 128 films in 17 languages in Non-Feature Films category of 70th National Film Awards, thereby signifying the richness of our cultural landscape and inclusivity of our story telling. Recognising the resilience of Film industry in the background of global pandemic, he praised the film makers for captivating the audience through their art of storytelling.

    Highlights from the 70th National Film Awards

    This year’s National Film Awards continue the tradition of recognizing excellence across a diverse array of films and talent. The awards for 2022 feature several standout winners:

    • Best Feature Film: “Aattam (The Play)”, a Malayalam film directed by Anand Ekarshi, has won this prestigious award for its artistic brilliance.

    • Best Non-Feature Film: “Ayena (Mirror)”, directed by Siddhant Sarin, takes home this honor

    • Best Actor in a Leading Role: Rishab Shetty wins the award for his captivating performance in “Kantara” (Kannada)

    • Best Actress in a Leading Role: The Best Actress award will be shared by Nithya Menen for her portrayal in “Thiruchitrambalam” (Tamil) and Manasi Parekh for “Kutch Express” (Gujarati).

    • Best Direction: Sooraj R. Barjatya wins for his work in the Hindi film “Uunchai”

    Some of the other award winners include “Brahmastra – Part 1: Shiva” in the Best Film in AVGC (Animation, Visual Effects, Gaming & Comic) category, “Kantara” for Best Popular Film Providing Wholesome Entertainment, and “Kishore Kumar: The Ultimate Biography” for Best Book on Cinema.

    Full list of awards can be found at the link below:

    https://pib.gov.in/PressReleasePage.aspx?PRID=2045960

    *****

    Dharmendra Tewari/Kshitij Singha

     

    (Release ID: 2063321) Visitor Counter : 24

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Issa Introduces Legislation Reforming Third-Party Financed Civil Litigation

    Source: United States House of Representatives – Congressman Darrell Issa (CA-50)

    WASHINGTON – Congressman Darrell Issa (CA-48), Chairman of the House Judiciary Subcommittee on Courts, Intellectual Property, and the Internet, and Congressman Scott Fitzgerald (WI-05) introduced the Litigation Transparency Act of 2024, which requires the disclosure of parties receiving payment in civil lawsuits.

    In hundreds of cases every year, civil litigation is funded by undisclosed third-party interests – including hedge funds, commercial lenders, and sovereign wealth funds operating through shell companies. In response, the bill would require disclosure of investors who have a right to receive payment based on the outcome of a case, as well as the disclosure of the financing agreement between investors and parties to the civil action. Third-party litigation funding also poses unique challenges in patent litigation cases, where investor-backed entities seek large settlements against American companies.

    “Our legislation targets serious and continuing abuses in our litigation system and achieves a level of transparency that people deserve, and our standard of law requires,” said Rep. Issa. “We believe that if a third-party investor is financing a lawsuit in federal court, it should be disclosed rather than hidden from the world and left absent from the facts of a case. When we achieve a lasting measure of awareness by all parties, it will advance fair and equal treatment by the justice system and deter bad actors from exploiting our courts.

    “As a former state legislator, I helped usher in laws to mandate disclosure of TPLF in Wisconsin courts. This ensured parties were aware of all stakeholders who had a financial interest in the outcome of litigation. These commonsense disclosure laws should similarly be required in federal courts, where the stakes can be higher,” said Rep. Fitzgerald. “I’m proud to join Congressman Issa in bringing needed transparency to our courtrooms.”

    Third-party litigation financing also raises national security concerns. A series of recent cases revealed that China-backed funders fueled IP litigation against U.S. companies. National security concerns have also been echoed by 14 state attorneys general, Vice Chairman of the Senate Intelligence Committee Senator Marco Rubio, and Ranking Member of the Subcommittee on Federal Courts, Senator John Kennedy.
    This bill follows extensive work by Rep. Issa this Congress, including holding a hearing titled “The U.S. Intellectual Property System and the Impact of Litigation Financed by Third Party Investors and Foreign Entities”, introducing the discussion draft of the LTA, and a letter to the Judicial Conference.

    The following organizations submitted statements in support of Rep. Issa’s bill:

    National Association of Mutual Insurance Companies
    “The court system was never meant to be exploited and abused in this manner. Frivolous and excessive litigation driven by third-party investors has inherently raised costs for Americans across the country. This legislation will help shine a light on who’s behind a lawsuit and ensure that relevant parties have the necessary information in their deliberations.”

    The U.S. Chamber of Commerce
    “This legislation will help protect the integrity of our judicial system by ensuring that outside financiers are not secretly directing or profiting from litigation they are funding. It is common sense that defendants, plaintiffs, and judges should know who is seeking to profit off litigation. The U.S. Chamber of Commerce thanks Rep. Issa for his leadership and strong work on this important issue.”

    American Property Casualty Insurance Association
    “The misuse of the legal system fueled by third-party litigation funding has formed a litigious culture, ultimately burdening every consumer and business through increased costs, including the cost of insurance throughout the country. APCIA appreciates Chairman Issa’s leadership for introducing legislation that would require disclosure of third-party litigation funding in civil litigation. APCIA encourages members of Congress to support this legislation.”

    High Tech Inventors Alliance
    “We commend Chairman Issa and Representative Fitzgerald for their leadership in defending U.S. companies by exposing the predatory tactics of hedge funds, private equity, and foreign countries employed for the sole purpose of exploiting our courts for financial gain. For too long, a lack of transparency has empowered shell companies to leech off American businesses, while hiding their exploitative practices and, oftentimes, their foreign investors and owners. We urge Congress to choose sunlight over secrecy and stand with American innovators.”

    US MADE
    “This bill is an important step forward in taking on the growing influence of TPLF. No one should be able to manipulate the courts in secrecy to benefit themselves and harm American manufacturers. Chairman Issa’s straightforward bill will finally require the disclosure of outside funding arrangements in civil lawsuits. We are proud to support this bill.”
     
    The text of the bill can be found here.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Nigeria

    Source: New Zealand Ministry of Foreign Affairs and Trade – Safe Travel

    • Reviewed: 4 October 2024, 15:33 NZDT
    • Still current at: 8 October 2024

    Related news features

    If you are planning international travel at this time, please read our COVID-19 related travel advice here, alongside our destination specific travel advice below.

    Do not travel to the states of Abia, Adamawa, Akwa Ibom, Anambra, Bauchi, Bayelsa, Borno, Delta, Gombe, Imo, Jigawa, Kaduna, Kano, Katsina, Kebbi, Niger, Plateau, Rivers (including Port Harcourt and Bonny Island), the river areas of Cross River state, Sokoto, Taraba, Yobe and Zamfara. There is an ongoing significant threat from terrorism and a very high threat of kidnapping, localised conflict, and armed attacks in these areas. The security situation is volatile. If you are in one of these areas you should consider departing as soon as it is safe to do so. (Level 4 of 4).

    Avoid non-essential travel elsewhere in Nigeria (except the cities of Calabar, Abuja and Lagos), due to the threat from terrorism, kidnapping and violent crime (level 3 of 4).

    Exercise increased caution in the cities of Calabar, Abuja and Lagos due to the threat of terrorism and violent crime (level 2 of 4).

    Nigeria

    Terrorism
    There is a very high threat from terrorism, especially in northern and northeastern states, and bandit groups are increasingly active in the northwest. No location in Nigeria should be viewed as being outside the scope of terrorist groups. Terror attacks occur very regularly in Nigeria. There have been many serious attacks which have resulted in a significant number of deaths and injuries. The terrorist group Boko Haram regularly mounts large-scale attacks in Nigeria, including bombings, gun assaults, assassinations, arson and mass kidnappings. Future attacks are highly probable, most likely by Boko Haram or Islamic State West Africa (ISWA). Attacks by bandit groups on civilians, motorists and local communities can involve gunfire, explosives, machetes and kidnapping.

    Most attacks take place in areas where we advise Do Not Travel, future attacks could occur anywhere in Nigeria. The Federal Capital Territory (Abuja) has been targeted in several attacks in recent years, resulting in high numbers of deaths and injuries. Further attacks in Abuja, Lagos and elsewhere are likely and could be indiscriminate.

    Armed groups often target transport routes. Avoid intercity transport via road or rail. If despite our advice you undertake travel within Nigeria, we advise that you seek professional security advice and support before departing.

    Other common targets include churches and mosques during times of worship, government and security institutions, hotels, restaurants, shopping centres, markets, educational facilities and police stations. Many attacks have occurred around religious or public holidays or festivals in public and crowded places. We advise New Zealanders to remain vigilant at all times. Locations frequented by foreigners have been attacked and may be targeted again. 

    Military operations against Boko Haram in northern and north-eastern parts of Nigeria are ongoing. New Zealanders in Nigeria should be aware that any increase in violence between security forces and terrorist groups is likely to increase the possibility of terrorism throughout Nigeria.

    Local authorities in Nigeria often impose, amend and lift curfews in response to security incidents at short notice. New Zealanders in areas affected by violence are advised to monitor local media for the latest information on possible curfews and restrictions on movement, and follow any advice from local authorities.

    Local authorities may also interrupt telecommunication services in the northeastern states without notice and for indeterminate periods of time. Neighbouring states may also be affected by these disruptions.

    New Zealanders throughout Nigeria are also advised to keep themselves informed of potential risks to safety and security by monitoring the media and other local information sources.

    Kidnapping
    There is a high threat of kidnapping throughout Nigeria, particularly in North and North-Eastern Nigeria and in the Niger Delta states. Attacks are often indiscriminate – residents and foreigners alike have been abducted and held captive, with some deaths being reported. Humanitarian aid workers may be targeted.

    There is an increasing risk of kidnapping by bandit groups throughout Nigeria, including in Abuja and Lagos. Kidnappers often target transport routes.

    Expatriate workers at oil and gas facilities in the Niger Delta states are at particular risk of kidnapping, which is typically financially motivated. New Zealanders working in the Niger Delta states against our advice are advised to seek professional security advice and ensure appropriate personal security measures are in place at all times.

    Violent Crime
    There are high rates of violent crime such as armed robbery, home invasion, mugging, carjacking, sexual assault and violent assault throughout Nigeria. Crime is more prevalent at night, particularly in urban areas, such as Lagos, and on the main highways.

    New Zealanders in Nigeria are advised to be security conscious at all times and should avoid walking and travelling at night, particularly to isolated areas. No resistance should be given if you are the victim of a robbery, mugging or carjacking as this could lead to an escalation in violence. As victims of robbery are often targeted due to their perceived wealth, it is advisable to avoid wearing or displaying items that appear valuable, such as electronic devices and jewellery. We also recommend carrying the minimum amount of cash required.   

    When driving you should keep doors locked, windows up and keep any valuables out of sight. Don’t use public transportation throughout Nigeria due to safety reasons. We recommend using prearranged transport only or making bookings through your hotel.

    Civil Unrest
    Numerous deaths and injuries have occurred as a result of violent civil unrest and inter-communal violence in Nigeria in recent years.  In the past government security forces have sometimes used live ammunition to disperse demonstrations. There is an ongoing heightened risk of violence, particularly in central and northern regions. Bystanders can get caught up in the violence directed at others. 

    New Zealanders are advised to avoid all large public gatherings, protests, demonstrations and political rallies as even those intended to be peaceful  have the potential to turn  violent. If you are in an area affected by unrest, you should leave the immediate vicinity, stay indoors and monitor local media to stay informed of developments.

    Piracy
    Piracy, including against off-shore oil rigs, is a significant problem in Nigerian waters. There have been armed robberies targeting ships in the coastal areas of the Gulf of Guinea, including in the Niger Delta region.

    Mariners are advised to take appropriate precautionary measures. For more information view the International Maritime Bureau’s piracy report. 

    Scams
    Commercial and internet fraud is common in Nigeria, including internet relationship scams. New Zealanders should be wary of any offers that seem too good to be true, as they may be a scam. For further information see our advice on Internet Fraud and International Scams and Internet dating scams.

    General Information
    As there is no New Zealand diplomatic presence in Nigeria, the ability of the government to provide assistance to New Zealand citizens is severely limited, particularly in areas where we advise against all travel.

    We offer advice to New Zealanders about contingency planning that travellers to Nigeria should consider.

    Modesty and discretion should be exercised in both dress and behaviour in Nigeria to avoid offending local sensitivities. Sharia law operates in many Northern states. Same-sex relationships are illegal in all parts of Nigeria.

    Photography of airports, government buildings and military installations is illegal, and can result in fines or imprisonment.

    Penalties for possession, use or trafficking of illegal drugs are severe and can include lengthy imprisonment or fines.

    Keep your passport in a safe place and only carry a photocopy for identification purposes. Checkpoints operate throughout the country. Police officers and individuals posing as police officers have been known to solicit bribes. New Zealanders should carry relevant personal identification and vehicle registration papers with them at all times.

    The possession, sale and export of African art, particularly antiquities, without authorisation may carry heavy penalties.

    New Zealanders travelling or living in Nigeria should have a comprehensive travel insurance policy in place that includes provision for medical evacuation by air.

    New Zealanders in Nigeria are strongly encouraged to register their details with the Ministry of Foreign Affairs and Trade.

     

    Travel tips

    The New Zealand Embassy Addis Ababa, Ethiopia is accredited to Nigeria

    Street Address Bole Sub City, Woreda 03, House No 111, Behind Atlas Hotel/close to Shala Park, (Namibia Street), Addis Ababa, Ethiopia Postal Address New Zealand Embassy, Ministry of Foreign Affairs and Trade, Private Bag 18-901 Wellington Mail Centre 5045, Wellington Telephone +251-11-515-1269 Fax +251-11-552-6115 Email aue@mfat.govt.nz Web Site https://www.mfat.govt.nz/ethiopia Hours Open to the public: Monday – Friday, 9am-12pm by appointment Note In an emergency or if you require urgent assistance after hours, please call the New Zealand Ministry of Foreign Affairs and Trade’s 24/7 Consular Emergency line on +64 99 20 20 20.

    See our regional advice for Africa

    Top of page

    MIL OSI New Zealand News –

  • MIL-OSI: Final result of the subsequent offer period of Onni Bidco Oy’s voluntary recommended public cash tender offer for all the shares in Innofactor Plc

    Source: GlobeNewswire (MIL-OSI)

    Innofactor Plc          Stock Exchange Release         October 8, 2024 at 8:35 a.m. (EEST)

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER WOULD BE PROHIBITED BY APPLICABLE LAW. FOR FURTHER INFORMATION, PLEASE SEE SECTION ENTITLED “IMPORTANT INFORMATION” BELOW.

    Final result of the subsequent offer period of Onni Bidco Oy’s voluntary recommended public cash tender offer for all the shares in Innofactor Plc

    As announced on July 22, 2024, CapMan Growth Equity Fund III Ky, a fund managed by CapMan Group affiliated companies, (“CapMan Growth”), Sami Ensio, the founder, CEO and member of the Board of Directors of Innofactor Plc, through the holding company Ensio Investment Group Oy controlled by him, and the co-investor Osprey Capital Oy (“Osprey Capital”) form a consortium (the “Consortium”) for the purposes of the voluntary recommended public cash tender offer for all the issued and outstanding shares in Innofactor Plc (“Innofactor” or the “Company”) that are not held by Innofactor or its subsidiaries (the “Shares”) (the “Tender Offer”), made by Onni Bidco Oy (the “Offeror”), a private limited liability company incorporated and existing under the laws of Finland. The Offeror has on August 2, 2024, published the tender offer document concerning the Tender Offer. The original offer period for the Tender Offer commenced on August 5, 2024, at 9:30 a.m. (Finnish time) and expired on September 16, 2024, at 4:00 p.m. (Finnish time) (the “Original Offer Period”). The Offeror announced on September 19, 2024 in connection with the announcement of the final result of the Original Offer Period, that it will complete the Tender Offer and commence a subsequent offer period in accordance with the terms and conditions of the Tender Offer, which commenced  on September 19, 2024, at 9:30 a.m. (Finnish time) and expired on October 3, 2024, at 4:00 p.m. (Finnish time) (the “Subsequent Offer Period”).

    Based on the final result of the Subsequent Offer Period, the 914,649 Shares tendered during the Subsequent Offer Period represent approximately 2.56 percent of the Shares and voting rights in Innofactor. Together with the Shares validly accepted during the Original Offer Period and the Shares otherwise acquired or to be acquired by the Offeror (comprising 148,127 Shares that Sami Ensio has received as board remuneration), the Shares tendered during the Subsequent Offer Period represent approximately 85.05 percent of the Shares and voting rights in Innofactor.

    The offer price will be paid on or about October 10, 2024, to shareholders who have validly accepted the Tender Offer during the Subsequent Offer Period in accordance with the terms and conditions of the Tender Offer. The offer price will be paid in accordance with the payment procedures described in the terms and conditions of the Tender Offer. The actual time of receipt of the payment by each shareholder will depend on the schedule for payment transactions between financial institutions.

    The Offeror has reserved the right to acquire Shares on or after the date of this release in public trading on Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) or otherwise to the extent permitted by applicable laws and regulations.

    Investor and Media enquiries:

    Innofactor

    Iida Suominen (Innofactor), ir@innofactor.com, +358 40 716 7173

    Lasse Lautsuo (Innofactor), ir@innofactor.com, +358 50 480 1597

    For further information, please visit the dedicated website at https://www.innofactor.com/invest-in-us/onni-tender-offer/.

    The Consortium

    Antti Kummu, CapMan Growth

    +358 50 432 4486

    Media

    press.contact@miltton.com

    +358 45 788 51840

    For further information, please visit the dedicated website at: https://innofactor.tenderoffer.fi/en/pto/. The link does not redirect to Innofactor’s website, but to a website operated by the Offeror.

    Distribution:

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

    ABOUT THE CONSORTIUM

    CapMan Growth and Sami Ensio (through the holding company controlled by him) together with Osprey Capital form the Consortium for the purposes of the Tender Offer. As at the date of this release, the Offeror is indirectly owned by Onni Topco Oy, a private limited liability company incorporated under the laws of Finland. Onni Topco Oy was incorporated to be the holding company in the acquisition structure and is currently owned by CapMan Growth. Following the completion of the Tender Offer, CapMan Growth is expected to own approximately 52.4 percent, Ensio Investment Group Oy approximately 42.6 percent and Osprey Capital approximately 5.0 percent of the shares in Onni Topco Oy.

    ABOUT INNOFACTOR

    Innofactor is the leading promoter of the modern digital organization in the Nordic countries for its approximately 1,000 customers in the commercial and public sectors. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor’s offering includes planning services for business-critical IT solutions, project deliveries, implementation support and maintenance services, as well as own software and services. Innofactor employs nearly 600 experts in Finland, Sweden, Denmark and Norway. Innofactor’s shares are listed on Nasdaq Helsinki with the ticker symbol IFA1V.

    IMPORTANT INFORMATION

    THIS RELEASE MAY NOT BE RELEASED OR OTHERWISE DISTRIBUTED, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER WOULD BE PROHIBITED BY APPLICABLE LAW.

    THIS RELEASE IS NOT A TENDER OFFER DOCUMENT AND AS SUCH DOES NOT CONSTITUTE AN OFFER OR INVITATION TO MAKE A SALES OFFER. IN PARTICULAR, THIS RELEASE IS NOT AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES DESCRIBED HEREIN, AND IS NOT AN EXTENSION OF THE TENDER OFFER, IN, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA. INVESTORS SHALL ACCEPT THE TENDER OFFER FOR THE SHARES ONLY ON THE BASIS OF THE INFORMATION PROVIDED IN A TENDER OFFER DOCUMENT. OFFERS WILL NOT BE MADE DIRECTLY OR INDIRECTLY IN ANY JURISDICTION WHERE EITHER AN OFFER OR PARTICIPATION THEREIN IS PROHIBITED BY APPLICABLE LAW OR WHERE ANY TENDER OFFER DOCUMENT OR REGISTRATION OR OTHER REQUIREMENTS WOULD APPLY IN ADDITION TO THOSE UNDERTAKEN IN FINLAND.

    THE TENDER OFFER IS NOT BEING MADE DIRECTLY OR INDIRECTLY IN ANY JURISDICTION WHERE PROHIBITED BY APPLICABLE LAW AND, WHEN PUBLISHED, THE TENDER OFFER DOCUMENT AND RELATED ACCEPTANCE FORMS WILL NOT AND MAY NOT BE DISTRIBUTED, FORWARDED OR TRANSMITTED INTO OR FROM ANY JURISDICTION WHERE PROHIBITED BY APPLICABLE LAWS OR REGULATIONS. IN PARTICULAR, THE TENDER OFFER IS NOT BEING MADE, DIRECTLY OR INDIRECTLY, IN OR INTO, OR BY USE OF THE POSTAL SERVICE OF, OR BY ANY MEANS OR INSTRUMENTALITY (INCLUDING, WITHOUT LIMITATION, FACSIMILE TRANSMISSION, TELEX, TELEPHONE OR THE INTERNET) OF INTERSTATE OR FOREIGN COMMERCE OF, OR ANY FACILITIES OF A NATIONAL SECURITIES EXCHANGE OF, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA. THE TENDER OFFER CANNOT BE ACCEPTED, DIRECTLY OR INDIRECTLY, BY ANY SUCH USE, MEANS OR INSTRUMENTALITY OR FROM WITHIN, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA AND ANY PURPORTED ACCEPTANCE OF THE TENDER OFFER RESULTING DIRECTLY OR INDIRECTLY FROM A VIOLATION OF THESE RESTRICTIONS WILL BE INVALID.

    THIS RELEASE HAS BEEN PREPARED IN COMPLIANCE WITH FINNISH LAW, THE RULES OF NASDAQ HELSINKI AND THE HELSINKI TAKEOVER CODE AND THE INFORMATION DISCLOSED MAY NOT BE THE SAME AS THAT WHICH WOULD HAVE BEEN DISCLOSED IF THIS RELEASE HAD BEEN PREPARED IN ACCORDANCE WITH THE LAWS OF JURISDICTIONS OUTSIDE OF FINLAND.

    Information for shareholders of Innofactor in the United States

    Shareholders of Innofactor in the United States are advised that the Shares are not listed on a U.S. securities exchange and that Innofactor is not subject to the periodic reporting requirements of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is not required to, and does not, file any reports with the U.S. Securities and Exchange Commission (the “SEC”) thereunder.

    The Tender Offer will be made for the issued and outstanding shares of Innofactor, which is domiciled in Finland, and is subject to Finnish disclosure and procedural requirements. The Tender Offer is made in the United States pursuant to Section 14(e) and Regulation 14E under the Exchange Act, subject to the exemption provided under Rule 14d-1(c) under the Exchange Act, for a Tier I tender offer, and otherwise in accordance with the disclosure and procedural requirements of Finnish law, including with respect to the Tender Offer timetable, settlement procedures, withdrawal, waiver of conditions and timing of payments, which are different from those of the United States. In particular, the financial information included in this stock exchange release has been prepared in accordance with applicable accounting standards in Finland, which may not be comparable to the financial statements or financial information of U.S. companies. The Tender Offer is made to Innofactor’s shareholders resident in the United States on the same terms and conditions as those made to all other shareholders of Innofactor to whom an offer is made. Any informational documents, including this stock exchange release, are being disseminated to U.S. shareholders on a basis comparable to the method that such documents are provided to Innofactor’s other shareholders.

    To the extent permissible under applicable law or regulations, the Offeror and its affiliates or its brokers and its brokers’ affiliates (acting as agents for the Offeror or its affiliates, as applicable) may from time to time after the date of this stock exchange release and during the pendency of the Tender Offer, and other than pursuant to the Tender Offer, directly or indirectly purchase or arrange to purchase Shares or any securities that are convertible into, exchangeable for or exercisable for Shares. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. To the extent information about such purchases or arrangements to purchase is made public in Finland, such information will be disclosed by means of a press release or other means reasonably calculated to inform U.S. shareholders of Innofactor of such information. In addition, the financial adviser to the Offeror may also engage in ordinary course trading activities in securities of Innofactor, which may include purchases or arrangements to purchase such securities. To the extent required in Finland, any information about such purchases will be made public in Finland in the manner required by Finnish law.

    Neither the SEC nor any U.S. state securities commission has approved or disapproved the Tender Offer, passed upon the merits or fairness of the Tender Offer, or passed any comment upon the adequacy, accuracy or completeness of the disclosure in relation to the Tender Offer. Any representation to the contrary is a criminal offence in the United States.

    The receipt of cash pursuant to the Tender Offer by a U.S. holder of Shares may be a taxable transaction for U.S. federal income tax purposes and under applicable U.S. state and local, as well as foreign and other, tax laws. Each holder of Shares is urged to consult its independent professional advisers immediately regarding the tax and other consequences of accepting the Tender Offer.

    To the extent the Tender Offer is subject to U.S. securities laws, those laws only apply to U.S. holders of Shares and will not give rise to claims on the part of any other person. It may be difficult for Innofactor’s shareholders to enforce their rights and any claims they may have arising under the U.S. federal securities laws, since the Offeror and Innofactor are located in non-U.S. jurisdictions and some or all of their respective officers and directors may be residents of non-U.S. jurisdictions. Innofactor shareholders may not be able to sue the Offeror or Innofactor or their respective officers or directors in a non-U.S. court for violations of the U.S. federal securities laws. It may be difficult to compel the Offeror and Innofactor and their respective affiliates to subject themselves to a U.S. court’s judgment.

    Forward-looking statements

    This release contains statements that, to the extent they are not historical facts, constitute “forward-looking statements”. Forward-looking statements include statements concerning plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, competitive strengths and weaknesses, plans or goals relating to financial position, future operations and development, business strategy and the trends in the industries and the political and legal environment and other information that is not historical information. In some instances, they can be identified by the use of forward-looking terminology, including the terms “believes”, “intends”, “may”, “will” or “should” or, in each case, their negative or variations on comparable terminology. By their very nature, forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. Given these risks, uncertainties and assumptions, investors are cautioned not to place undue reliance on such forward-looking statements. Any forward-looking statements contained herein speak only as at the date of this release.

    Disclaimer

    Carnegie Investment Bank AB (publ), which is authorised and supervised by the Swedish Financial Supervisory Authority (Finansinspektionen), is acting through its Finland Branch (“Carnegie”). The Finland branch is authorised by the Swedish Financial Supervisory Authority and subject to limited supervision by the Finnish Financial Supervisory Authority (Finanssivalvonta). Carnegie is acting exclusively for the Offeror and no one else in connection with the Tender Offer and the matters set out in this release. Neither Carnegie nor its affiliates, nor their respective partners, directors, officers, employees or agents are responsible to anyone other than the Offeror for providing the protections afforded to clients of Carnegie, or for giving advice in connection with the Tender Offer or any matter or arrangement referred to in this release.

    Advium Corporate Finance Ltd. is acting exclusively on behalf of Innofactor and no one else in connection with the Tender Offer or other matters referred to in this release, does not consider any other person (whether the recipient of this release or not) as a client in connection to the Tender Offer, and is not responsible to anyone other than Innofactor for providing protection or providing advice in connection with the Tender Offer or any other transaction or arrangement referred to in this release.

    The MIL Network –

  • MIL-OSI China: Mobile payment helps fuel holiday consumption

    Source: People’s Republic of China – State Council News

    China’s innovative mobile payment options fueled a new wave of inbound travel-related consumption during the National Day holiday period that ended on Monday, injecting more vitality into the global tourism industry, said industry experts.

    Data from leading online payment platform Alipay showed that inbound visitors are increasingly embracing mobile payment methods while traveling across China, as their spending on the platform surged around 120 percent year-on-year during the first four days of the weeklong holiday.

    The uptick in transactions was particularly pronounced among tourists from over 10 countries and regions that have been granted visa-free access to China since last year. Their Alipay usage saw a nearly threefold year-on-year increase, the platform said.

    Meanwhile, Chinese businesses are also capitalizing on the growing influx of international consumers. The number of merchants using Alipay for foreign customers doubled during the first four days of the holiday compared with the same period in 2023.

    The top services that foreign tourists used through Alipay during this year’s National Day holiday were ride-hailing, bike-sharing, flight and train bookings, and food delivery.

    Ouyang Rihui, assistant dean of the China Center for Internet Economy Research at Central University of Finance and Economics, said that visa-free access, flight recovery and convenient mobile payments are among key factors driving the rise of inbound tourism in China.

    “This will not only boost domestic consumption, but will also inject fresh impetus into the global tourism industry,” Ouyang added.

    In a move to further facilitate transactions for foreigners, the State Administration for Market Regulation and the National Data Administration announced last week that eight cities will pilot a program designed to make it easier for individual business owners to adopt mobile payment platforms.

    Individual businesses in cities including Suzhou in Jiangsu province, Hangzhou in Zhejiang province and Jinan in Shandong province will be supported in streamlining the procedure needed to handle payment codes for foreign credit cards, according to the two authorities.

    They said that mobile payment platforms do not have access to the registration information of individual businesses and, therefore, the process of opening merchant payment codes was time-consuming.

    The new move will make it easier for over 11 million individual business entities, which make up 9.3 percent of the total national businesses, to open such codes, the authorities said.

    The nation has been making greater efforts to facilitate payment for foreign visitors.

    In March, the State Council, China’s Cabinet, released guidelines aimed at improving the accessibility of bank card payments, promoting the use of cash and expanding mobile payment options for travelers.

    The Chinese mainland recorded an estimated 95 million trips made by foreign tourists in the first nine months of this year, up 55.4 percent year-on-year, according to the Ministry of Culture and Tourism.

    Luigi Gambardella, president of ChinaEU, an international association promoting digital and high-tech cooperation between Chinese and European companies, said that China’s efforts to enhance mobile payment options for international users is a significant step forward.

    “The transformation not only benefits individual travelers and merchants, but also strengthens China’s position as a world leader in the adoption of mobile payments and a major contributor to global advancement in fintech,” Gambardella said.

    MIL OSI China News –