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  • MIL-OSI Security: Justice Department to Monitor Compliance in Dallas, Palo Pinto

    Source: Office of United States Attorneys

    United States Attorney Leigha Simonton announced today that the Justice Department will monitor compliance with federal voting rights laws in Dallas County and Palo Pinto County for the Nov. 5 general election.

    The Justice Department enforces federal voting rights laws that protect the rights of all eligible citizens to access the ballot. The department regularly deploys its staff to monitor for compliance with federal civil rights laws in elections in communities all across the country. 

    The Justice Department’s Civil Rights Division will coordinate the effort. Monitors will include Justice Department personnel, who will contact state and local election officials as needed throughout Election Day. 

    The Civil Rights Division’s Voting Section enforces the civil provisions of federal statutes that protect the right to vote, including the Voting Rights Act, National Voter Registration Act, Help America Vote Act, Uniformed and Overseas Citizens Absentee Voting Act and Civil Rights Acts. The division’s Disability Rights Section enforces the Americans with Disabilities Act (ADA) to ensure that persons with disabilities have a full and equal opportunity to vote. The division’s Criminal Section enforces federal criminal statutes that prohibit voter intimidation and voter suppression based on race, color, national origin or religion. 

    On Election Day, Civil Rights Division personnel will be available all day to receive questions and complaints from the public related to possible violations of federal voting rights laws. Reports may be made through the department’s website www.civilrights.justice.gov or by calling toll-free at 800-253-3931. 

    Individuals with questions or complaints related to the ADA may call the department’s toll-free ADA information hotline at 800-514-0301 or 833-610-1264 (TTY) or submit a complaint through a link on the department’s ADA website at www.ada.gov.

    Complaints related to any disruptions at a polling place should always be reported to local election officials (including officials based in the polling place). Complaints related to violence, threats of violence or intimidation at a polling place should be reported immediately to local police authorities by calling 911. These complaints should also be reported to the department after local authorities have been contacted.

    More information about voting and elections, including guidance documents and other resources, is available at www.justice.gov/voting.

    Learn more about the Voting Rights Act and other federal voting laws at www.justice.gov/crt/voting-section.

    Complaints about possible violations of the federal voting rights laws can be made directly to the Civil Rights Division in Washington, DC by complaint form at https://civilrights.justice.gov/ or by phone at 800-253-3931.

    MIL Security OSI –

  • MIL-OSI Security: Christmas Day Robbery Gets Woman Prison Term

    Source: Office of United States Attorneys

                WASHINGTON – Derricka Burton, 20, of Washington, D.C., was sentenced today to six years in prison for a Christmas Day robbery, announced U.S. Attorney Matthew M. Graves and Chief Pamela A. Smith of the Metropolitan Police Department (MPD).

                The Honorable Robert Salerno sentenced Burton to six years in prison, to be followed by three years of supervised release. Burton was found guilty on June 20, 2024 of two counts of robbery and conspiracy to commit robbery, following a jury trial in the Superior Court of the District of Columbia.

                According to the government’s evidence, at around 2:38 p.m. on December 25, 2023, Burton and three co-conspirators saw the victims, a couple spending time together at the Alethia Tanner Park, located at 227 Harry Thomas Way Northeast. Video footage showed Burton and her co-conspirators huddle together before two of her co-conspirators walked up to the victims and robbed them. Burton’s co-conspirators pointed a gun at the victims and demanded the victims’ Canada Goose brand jacket, cellphone, and other items. The co-conspirators then walked back to Burton and the other co-conspirators. The group conferred with each other and left together. As they did so, one of the co-conspirators dropped some of the stolen property, which Burton picked up before she left with the group.  Police arrested Burton on February 12, 2024.

               In announcing the sentence, U.S. Attorney Graves and Chief Smith commended the work of those who investigated the case from the Metropolitan Police Department. They also commended the work of Assistant U.S. Attorneys Michael Toogun and Katrenia Shelly, who prosecuted the case.

    MIL Security OSI –

  • MIL-OSI Security: New Orleans Man Sentenced for Drug and Firearm Violations

    Source: Office of United States Attorneys

    NEW ORLEANS, LOUISIANA – DONELL LEBANKS (“LEBANKS”), a/k/a “Shorty,” age 39, of New Orleans, was sentenced by U.S. District Judge Greg G. Guidry to 170 months incarceration, five (5) years of supervised release, and payment of a $400 mandatory special assessment fee, after previously pleading guilty to Counts 1 through 4 of a  superseding bill of information.

    Count 1 charged LEBANKS with conspiracy to distribute fentanyl, in violation of Title 21, United States Code, Sections 841(a)(1), (b)(1)(B) and, 846.  Count 2 charged LEBANKS with possession with the intent to distribute marijuana, in violation of Title 21, United States Code, Sections 841(a)(1) and 841(b)(1)(D).  Count 3 charged LEBANKS with possession of a firearm in furtherance of a drug trafficking crime, in violation of Title 18, United States Code, Section 924(c)(1)(A)(i).  Count 4 charged LEBANKS with being a felon in possession of a firearm, in violation of Title 18, United States Code, Sections 922(g)(1) and 924(a)(8).

    According to court records, during 2021, the Federal Bureau of Investigation (“FBI”) New Orleans Gang Task Force (“NOGTF”) investigated suspected drug sales on Touro Street, in New Orleans.  Using surveillance, FBI agents observed LEBANKS conducting possible hand-to-hand drug sales.  To confirm such drug sales, NOGTF agents made controlled purchases of fentanyl from LEBANKS.  On October 25, 2022, NOGTF obtained a search warrant for a residence as well as for LEBANKS’ vehicle. NOGTF members executed the search warrants and detained LEBANKS and detained him so they could effectuate the search warrant.  Inside the vehicle, agents recovered a nine-millimeter Glock handgun, with an extended magazine, tucked between the driver’s seat and the center console.  Additionally, agents recovered 180.7 grams of marijuana from the front passenger side of the vehicle.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun track violence, and to make our neighborhoods safer for everyone.  On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

    The case was investigated by the Federal Bureau of Investigation, and the New Orleans Police Department.  This case was prosecuted by Assistant United States Attorney Mike Trummel of the Violent Crimes Unit. 

    MIL Security OSI –

  • MIL-OSI Security: Drug Trafficking Biddeford Couple Sentenced

    Source: Office of United States Attorneys

    PORTLAND, Maine: A Biddeford man and woman were sentenced today in U.S. District Court in Portland for their roles in a fentanyl trafficking conspiracy in southern Maine.

    U.S. District Judge John A. Woodcock, Jr. sentenced Michael Bolster, 49, to a total of 72 months in prison on one count of conspiring to distribute fentanyl and two counts of distributing fentanyl, followed by five years of supervised release. Michael Bolster pleaded guilty on January 18, 2024.

    Jessica Bolster, 42, was sentenced to a total of 60 months in prison on one count of conspiring to distribute fentanyl and one count of distributing fentanyl, followed by four years of supervised release. Jessica Bolster pleaded guilty on February 21, 2024.

    According to court records, the Bolsters conspired together and with others to distribute and possess with intent to distribute fentanyl. In July 2023, the Bolsters sold fentanyl to a confidential source on three separate occasions. The sales were for approximately 9 grams, 30 grams and 29 grams of fentanyl, respectively. In August 2023, investigators executed a search warrant at the Bolsters’ residence and seized two large bundles of suspected fentanyl made up of small baggies wrapped for individual sale totaling approximately 542 grams. The U.S. Drug Enforcement Administration (DEA) lab tested a sample of the substance and confirmed the presence of fentanyl. Just 2 milligrams of fentanyl is considered a potentially lethal dose.

    Coconspirator Darwin Mateo, 25, is currently serving a 36-month sentence.

    The DEA investigated the case. 

    ###

    MIL Security OSI –

  • MIL-OSI Security: Justice Department to monitor compliance in Alaska

    Source: Office of United States Attorneys

    ANCHORAGE, Alaska – United States Attorney S. Lane Tucker announced today that the Justice Department will monitor compliance with federal voting rights laws in five Alaska jurisdictions for the Nov. 5 general election.

    The jurisdictions to be monitored are:

    • Bethel Census Area
    • Dillingham Census Area
    • Kusilvak Census Area
    • North Slope Borough
    • Northwest Arctic Borough

    The Justice Department enforces federal voting rights laws that protect the rights of all eligible citizens to access the ballot. The department regularly deploys its staff to monitor for compliance with federal civil rights laws in elections in communities all across the country.

    The Justice Department’s Civil Rights Division will coordinate the effort. Monitors will include Justice Department personnel, who will contact state and local election officials as needed throughout Election Day.

    The Civil Rights Division’s Voting Section enforces the civil provisions of federal statutes that protect the right to vote, including the Voting Rights Act, National Voter Registration Act, Help America Vote Act, Uniformed and Overseas Citizens Absentee Voting Act and Civil Rights Acts. The division’s Disability Rights Section enforces the Americans with Disabilities Act (ADA) to ensure that persons with disabilities have a full and equal opportunity to vote. The division’s Criminal Section enforces federal criminal statutes that prohibit voter intimidation and voter suppression based on race, color, national origin or religion.

    On Election Day, Civil Rights Division personnel will be available all day to receive questions and complaints from the public related to possible violations of federal voting rights laws. Reports may be made through the department’s website www.civilrights.justice.gov or by calling toll-free at 800-253-3931.

    Individuals with questions or complaints related to the ADA may call the department’s toll-free ADA information hotline at 800-514-0301 or 833-610-1264 (TTY) or submit a complaint through a link on the department’s ADA website at www.ada.gov.

    Complaints related to any disruptions at a polling place should always be reported to local election officials (including officials based in the polling place). Complaints related to violence, threats of violence or intimidation at a polling place should be reported immediately to local police authorities by calling 911. These complaints should also be reported to the department after local authorities have been contacted.

    More information about voting and elections, including guidance documents and other resources, is available at www.justice.gov/voting. Learn more about the Voting Rights Act and other federal voting laws at www.justice.gov/crt/voting-section.

    Complaints about possible violations of the federal voting rights laws can be made directly to the Civil Rights Division in Washington, DC by complaint form at https://civilrights.justice.gov/ or by phone at 800-253-3931.

    ###

    MIL Security OSI –

  • MIL-OSI Security: Schenectady Man Charged with Drug and Firearm Offenses

    Source: Office of United States Attorneys

    ALBANY, NEW YORK – Nekie Ricks, age 31, of Schenectady, New York, was ordered detained today following his indictment and arrest for possession with intent to distribute cocaine, and his possession of a firearm in furtherance of his drug trafficking.

    United States Attorney Carla B. Freedman and Bryan Miller, Special Agent in Charge of the New York Field Division of the United States Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), made the announcement.

    According to the indictment, on August 24, 2022, Ricks possessed cocaine with the intent to distribute it, possessed a pistol in furtherance of that crime, and possessed that firearm even though he was a previously convicted felon. The charges in the indictment are merely accusations. The defendant is presumed innocent unless and until proven guilty.

    The charges filed against Ricks carry a prison term of at least 5 years and up to life, a fine of up to $1 million, and a term of post-imprisonment supervised release of at least 3 years and up to life.  A defendant’s sentence is imposed by a judge based on the particular statute the defendant is charged with violating, the U.S. Sentencing Guidelines, and other factors.

    Ricks was arraigned yesterday in Albany, before United States Magistrate Judge Christian F. Hummel. Following a detention hearing today, Ricks was ordered detained pending trial.

    ATF is investigating the case with assistance from the Schenectady Police Department and New York State Police. Assistant U.S. Attorney Alexander Wentworth-Ping is prosecuting the case.

    MIL Security OSI –

  • MIL-OSI Security: Justice Department to Monitor Compliance in San Juan County, Utah

    Source: Office of United States Attorneys

    SALT LAKE CITY, Utah – United States Attorney Trina A. Higgins announced today that the Justice Department will monitor compliance with federal voting rights laws in San Juan County for the Nov. 5 general election.

    The Justice Department enforces federal voting rights laws that protect the rights of all eligible citizens to access the ballot. The department regularly deploys its staff to monitor for compliance with federal civil rights laws in elections in communities all across the country.

    The Justice Department’s Civil Rights Division will coordinate the effort. Monitors will include Justice Department personnel, who will contact state and local election officials as needed throughout Election Day.

    The Civil Rights Division’s Voting Section enforces the civil provisions of federal statutes that protect the right to vote, including the Voting Rights Act, National Voter Registration Act, Help America Vote Act, Uniformed and Overseas Citizens Absentee Voting Act and Civil Rights Acts. The division’s Disability Rights Section enforces the Americans with Disabilities Act (ADA) to ensure that persons with disabilities have a full and equal opportunity to vote. The division’s Criminal Section enforces federal criminal statutes that prohibit voter intimidation and voter suppression based on race, color, national origin or religion.

    On Election Day, Civil Rights Division personnel will be available all day to receive questions and complaints from the public related to possible violations of federal voting rights laws. Reports may be made through the department’s website www.civilrights.justice.gov or by calling toll-free at 800-253-3931. The U.S. Attorney’s Office will also be available to receive complaints on Election Day at 801-325-3311.

    Individuals with questions or complaints related to the ADA may call the department’s toll-free ADA information hotline at 800-514-0301 or 833-610-1264 (TTY) or submit a complaint through a link on the department’s ADA website at www.ada.gov.

    Complaints related to any disruptions at a polling place should always be reported to local election officials (including officials based in the polling place). Complaints related to violence, threats of violence or intimidation at a polling place should be reported immediately to local police authorities by calling 911. These complaints should also be reported to the department after local authorities have been contacted.

    More information about voting and elections, including guidance documents and other resources, is available at www.justice.gov/voting. Learn more about the Voting Rights Act and other federal voting laws at www.justice.gov/crt/voting-section.

    Complaints about possible violations of the federal voting rights laws can be made directly to the Civil Rights Division in Washington, DC by complaint form at https://civilrights.justice.gov/ or by phone at 800-253-3931.
     

    MIL Security OSI –

  • MIL-Evening Report: Cook Islands PM calls for easing of tensions in New Caledonia

    By Caleb Fotheringham, RNZ Pacific journalist

    Cook Islands Prime Minister Mark Brown has returned from New Caledonia saying it is not a simple “black and white situation”.

    Brown returned from a three-day Pacific fact-finding mission in the French Pacific territory alongside the Prime Ministers of Solomon Islands, Tonga and Fiji.

    New Caledonia has been going through a period of turmoil with violence and arson since May, resulting in 13 deaths and the destruction of many businesses.

    “There’s no doubt there is a call and a need for the easing of tensions in the country,” Brown said.

    “This would enable more dialogue to take place between the various vested groups to find a pathway forward for New Caledonia.”

    Brown said Kanaky New Caledonia’s population was diverse, made up of indigenous Kanak, French, and Pacific diaspora.

    Almost all of these groups want greater autonomy from France with some also wanting full independence or to remain a French territory, he said.

    “But you have quite a large group between those two extremes that want a way forward that enables New Caledonians, all of them, to be able to determine their own future.”

    Pacific policing France ‘may wish to consider’
     Brown said Australia’s newly proposed regional policing initiative is “an option that New Caledonians may wish to consider”.

    “At the moment that’s being done by the state government through France through its gendarmes and police force.”

    The last time regional policing was used was in Solomon Islands after ethnic unrest in the 2000s, he said.

    When asked whether France had “militarised” New Caledonia, Brown said France sent a lot of support “to help maintain law and order” but the focus now was on the reduction of tensions and dialogue.

    France’s Ambassador to the Pacific Véronique told the ABC she doubted French authorities would see the need for Pacific police to be deployed to New Caledonia.

    Brown said the other issue was the need for an urgent financial package.

    “Unlike most other Pacific countries in cases of disaster whether they be natural disaster or other sorts, Pacific countries have the likes of the World Bank, the Asian Development Bank, development partners that would support and assist.

    Relying solely on France
    “In the case of New Caledonia, it doesn’t have the association with any of those financial institutions and would rely solely on France for its support.”

    There needed to first be a reduction of tensions so that any rebuild would not be under threat from more civil unrest, he said.

    Brown said Pacific nations had taken different decolonisation paths — with the exception of Tonga which had never been colonised.

    Fiji became a republic after a number of coups and Cook Islands is self-governing in free association with New Zealand.

    “Each of us took a different path to where we are today to gain our autonomy and our sovereignty and it’s something that we were able to share with New Caledonia.”

    This article is republished under a community partnership agreement with RNZ.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: Growing Gaelic in the Highlands

    Source: Scottish Government

    Funding for cultural centre project.

    A new centre to promote Gaelic language and culture in Inverness is to receive a significant funding boost from the Scottish Government.

    Cultarlann Inbhir Nis will receive £370,000 to develop a space for Gaelic gatherings, ceilidhs and exhibitions in the centre of the city.

    The Cultarlann is based in what was the East Church building. The new funding is a crucial step in developing the property, which will also feature meeting rooms for language courses, a café and shop. 

    The investment forms part of a £4 million package to promote Gaelic initiatives across Scotland.

    The centre will be the first dedicated Gaelic cultural centre in the Highlands and is also intended to be a tourist attraction where visitors can meet Gaelic-speaking staff and learn more about the language and its history.

    Cultarlann Inbhir Nis’s expansion will meet a growing demand for a dedicated space for Gaelic speakers in Inverness. Census figures published earlier this year show a 12% increase in the number of people with some Gaelic skills in Inverness compared to 2011.

    Deputy First Minister and Cabinet Secretary for Economy and Gaelic Kate Forbes said:

    “To strengthen Gaelic, we are supporting projects like Cultarlann which will enable more people to use the language in their day-to-day life.

    “Gaelic is a unique selling point for Scotland, which is why promoting the language goes hand-in-hand with attracting visitors and growing the economy.

    “The Scottish Government is also supporting the language’s continued growth in the Highlands by working collaboratively to progress the Scottish Languages Bill. The Bill will create a system to enable all parents to apply for Gaelic early learning and childcare services and introduce measures to strengthen Gaelic education in secondary school.”

    Margaret Mulholland, Chair of Cultarlann, Inbhir Nis, said:

    “We are hugely grateful for this fantastic funding offer.  It will enable our plans for a Gaelic Cultural Centre to take a major step forward.  This is a wonderful, iconic building and this funding will enable us to ensure it is properly watertight and to deal with all external essential repairs.

    “We are delighted to welcome Deputy First Minister, Kate Forbes, to the Cultarlann. Kate is a great enthusiast for Gaelic and she can see the exciting future the Cultarlann will have in promoting and building Gaelic culture in Inverness and the wider Highlands.”

    Background

    Census statistics show that 3,411 people in Inverness had some Gaelic skills 2022, an increase of 369 people from 2011.

    A’ Toirt Piseach air Cor na Gàidhlig air a’ Ghàidhealtachd

    Maoineachadh airson ionad cultarach.

    Tha Riaghaltas na h-Alba air taic-airgid nach beag a thoirt seachad airson ionad ùr ann an Inbhir Nis gus Gàidhlig agus cultar na Gàidhlig a chur air adhart.

    Gheibh Cultarlann Inbhir Nis £370,000 gus goireas a chruthachadh ann am meadhan a’ bhaile airson chruinneachaidhean, cèilidhean agus taisbeanaidhean Gàidhlig.

    Tha an Cultarlann stèidhichte anns togalach far an robh an Eaglais an Ear. Leis a’ mhaoineachadh ùr seo, ’s urrainnear ceum cudromach a ghabhail ann a bhith a’ toirt leasachadh air an togalach, far am bi seòmraichean-coinneachaidh airson chùrsaichean cànain, cafaidh agus bùth.

    Tha an t-airgead mar phàirt de mhaoineachadh luach £4m airson iomairtean Gàidhlig a chur air adhart air feadh na h-Alba.

    Leis an ionad ùr seo, bithear a’ stèidheachadh a’ chiad ionaid chultaraich Ghàidhlig air a’ Ghàidhealtachd agus thathar an dùil cuideachd gum bi e a’ tarraing luchd-turais a gheibh cothrom coinneachadh ri luchd-obrach le Gàidhlig agus ionnsachadh mun chànan agus eachdraidh nan Gàidheal.

    Leis an leasachadh seo airson Cultarlann Inbhir Nis, bithear a’ frithealadh air an iarrtas a th’ ann airson àite cruinneachaidh sònraichte do luchd-labhairt na Gàidhlig sa bhaile. Sheall àireamhan bhon chunntas-shluaigh a chaidh fhoillseachadh am-bliadhna gun deach an àireamh de dhaoine le sgilean Gàidhlig ann an Inbhir Nis an àird 12% an coimeas ri àireamhan 2011.

    Thuirt an Leas-Phrìomh Mhinistear is Rùnaire a’ Chaibineit airson na h-Eaconamaidh is Gàidhlig, Ceit Fhoirbeis:

    “Airson cor na Gàidhlig a neartachadh, tha sinn a’ cur taic ri pròiseactan leithid Cultarlann Inbhir Nis far am faigh barrachd dhaoine cothrom gus an cànan a chleachdadh nam beatha làitheil.

    “Tha a’ Ghàidhlig mar phàirt prìseil is sònraichte de chultar na h-Alba, agus sin carson tha adhartachadh a’ chànain cuideachd a’ cuideachadh le bhith a’ tàladh luchd-turais agus a’ cur ris an eaconamaidh.

    “Tha Riaghaltas na h-Alba cuideachd a’ cur taic ri adhartas leantainneach dhan chànan air a’ Ghàidhealtachd le bhith ag obair còmhla ri càch gus Bile nan Cànan Albannach a thoirt air adhart. Bidh am Bile a’ stèidheachadh siostam tron urrainn do gach pàrant cur a-staigh airson tràth-ionnsachadh Gàidhlig agus seirbheisean cùraim-chloinne dhan chloinn aca agus tha cumhachan sa Bhile cuideachd gus foghlam Gàidhlig ann an àrd-sgoiltean a neartachadh.”

    Thuirt Mairead Mulholland, Cathraiche Cultarlann Inbhir Nis:

    “Tha sinn air leth taingeil airson a’ mhaoineachaidh fhialaidh seo. Tha e a’ ciallachadh gun urrainn dhuinn adhartas mòr a dhèanamh leis na planaichean againn airson Ionad Cultarach Gàidhlig. ’S e togalach iongantach is ainmeil a tha seo agus leis a’ mhaoineachadh seo ’s urrainn dhuinn dèanamh cinnteach gum bi e gu tur dìonach agus ’s urrainn dhuinn an obair chàraidh a tha a dhìth air an taobh a-muigh dheth a dhèanamh.

    “Tha e a’ toirt toileachas mòr dhuinn fàilte a chur air an Leas-Phrìomh Mhinistear, Ceit Fhoirbeis, chun a’ Chultarlainn. Tha Ceit air leth taiceil dhan Ghàidhlig agus tha i a’ tuigsinn mar as urrainn dhan Chultarlann feum mòr a dhèanamh ann a bhith a’ cur cultar na Gàidhlig air adhart, agus ann a bhith a’ neartachadh a’ chultair, ann an Inbhir Nis agus air a’ Ghàidhealtachd air fad.”

    Bun-fhiosrachadh

    Tha àireamhan a’ Chunntais-shluaigh a’ sealltainn gun robh sgilean Gàidhlig aig 3,411 daoine ann an Inbhir Nis ann an 2022, sin àrdachadh de 369 bho 2011.

    MIL OSI United Kingdom –

  • MIL-OSI China: China’s Shenzhou-18 astronauts complete handover, returning to Earth on Monday

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

    BEIJING, Nov. 1 — The crew of China’s Shenzhou-18 spacecraft held a handover ceremony with the Shenzhou-19 crew and transferred the keys of the country’s space station to the latter on Friday.

    The Shenzhou-18 crew has now completed all planned tasks. The three astronauts will take the Shenzhou-18 spacecraft and return to the Dongfeng landing site in north China’s Inner Mongolia Autonomous Region on Nov. 4, according to the China Manned Space Agency.

    At present, the landing site and all participating systems are making final preparations to welcome the trio back.

    MIL OSI China News –

  • MIL-OSI China: China-Laos railway increases cross-border passenger services to drive tourism

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

    VIENTIANE, Nov. 1 — The Laos-China Railway Co., Ltd. (LCRC) has increased the number of passenger train services between Xishuangbanna of China and Luang Prabang of Laos, starting on Oct. 29, with the aim of boosting tourism.

    The company now operated six days a week compared to the previous four days a week, according to the LCRC.

    The expanded schedule will enable more passengers to travel between the two popular destinations.

    The railway started cross-border passenger services on April 13, 2023. Since then, the railway has become the preferred mode of transport for a growing number of international travelers due to its affordability, convenience and comfort.

    On April 13 this year, Chinese and Lao railway authorities launched one more pair of trains for the railway’s international passenger services, running between Xishuangbanna and Luang Prabang, two popular tourist destinations.

    MIL OSI China News –

  • MIL-OSI China: China revises rules to ease foreign strategic investment in listed firms

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

    BEIJING, Nov. 1 — Chinese authorities on Friday released revised rules on foreign investors’ strategic investment in listed companies in a move to encourage foreign investors to make long-term and value investment in the country.

    The revised rules, jointly released by six government departments, including the Ministry of Commerce and the China Securities Regulatory Commission, allow foreign natural persons to make strategic investment in listed companies, a change from the old rules that only allowed foreign legal persons or organizations to make such investment.

    Capital requirement is also lowered under the new rules for foreign investors that do not become the controlling shareholders in listed firms. The latest capital requirement for them will be no less than 50 million U.S. dollars in total actual assets or no less than 300 million U.S. dollars in total managed actual assets.

    The new rules add tender offers as an extra option to make strategic investment. In the past, the only available options were private placements and share transfer agreements.

    For foreign investors intending to invest through the options of private placements or tender offers, they will be allowed to use shares of non-listed overseas companies as consideration shares for acquisition payment.

    The new rules also eased requirements on the shareholding ratio and the lock-up period. The shareholding ratio requirement is scrapped for foreign investors making investment through private placements, while the ratio requirements for the options of tender offers and share transfer agreements are lowered to 5 percent from the previous 10 percent.

    In order to encourage medium- and long-term investment, the requirement on lock-up period for acquired shares should be no shorter than a 12-month period under the new rules. This is reduced from no shorter than three years previously.

    A press briefing posted on the MOC’s website said that the revised measures seek to reduce the investment threshold for foreign investors, broaden the channels for foreign investment in the country’s securities market and encourage foreign investors to carry out long-term and value investment.

    It said that the scale of China’s securities market has further expanded in recent years with the sustained and healthy development of China’s economy and the nation’s deepened reform and opening up, adding that welcoming more high-quality foreign investment in listed companies will help promote China’s industrial upgrading as well as the healthy and stable development of China’s capital market.

    The revised rules are in line with the reform measures adopted at the Third Plenary Session of the 20th Central Committee of the Communist Party of China held in July this year, which vowed to open China’s commodity, services, capital, and labor markets wider to the outside world in an orderly manner, and facilitate foreign equity investment and venture capital investment in China.

    China issued rules for foreign investors to make strategic investments in listed companies back in 2005. Since then, foreign investors have made strategic investments in more than 600 listed companies.

    MIL OSI China News –

  • MIL-OSI China: 2024 China Robot Competition kicks off in Xi’an, China’s Shaanxi

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

    2024 China Robot Competition kicks off in Xi’an, China’s Shaanxi

    Updated: November 2, 2024 07:32 Xinhua
    People watch robots competing during China Robot Competition in Xi’an, northwest China’s Shaanxi Province, Nov. 1, 2024. The 2024 China Robot Competition kicked off here on Friday. More than 1,700 teams from over 200 universities participated in this competition. [Photo/Xinhua]
    Participants work on their robots during China Robot Competition in Xi’an, northwest China’s Shaanxi Province, Nov. 1, 2024. [Photo/Xinhua]
    An irrigation robot competes during China Robot Competition in Xi’an, northwest China’s Shaanxi Province, Nov. 1, 2024. [Photo/Xinhua]
    A robot competes during China Robot Competition in Xi’an, northwest China’s Shaanxi Province, Nov. 1, 2024. [Photo/Xinhua]
    A robot competes during China Robot Competition in Xi’an, northwest China’s Shaanxi Province, Nov. 1, 2024. [Photo/Xinhua]
    Participants make preparation for China Robot Competition in Xi’an, northwest China’s Shaanxi Province, Nov. 1, 2024. [Photo/Xinhua]
    Participants work on their robot during China Robot Competition in Xi’an, northwest China’s Shaanxi Province, Nov. 1, 2024. [Photo/Xinhua]
    Participants work on their robot during China Robot Competition in Xi’an, northwest China’s Shaanxi Province, Nov. 1, 2024. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI USA: Marine Board Urges Boat Owners to Check Email for Motorboat Registration Renewal Notices

    Source: US State of Oregon

    he Oregon State Marine Board will be emailing motorboat registration renewal notices to boaters who have email addresses on file whose registration expires on December 31, 2024. Each renewal notice is unique to the owner and their boat. Owners are encouraged to take advantage of the online renewal option, and the email has detailed instructions for using the Boat Oregon Store. For boaters who do not have an email address on file, renewal notices will be sent via US Mail and will arrive by mid-November.

    Renewing online using the Marine Board’s Boat Oregon Store is the fastest method, offering a printable temporary permit to be in compliance to go boating right away. Owners can renew multiple boats or purchase Waterway Access Permits in one transaction for a $1.50 portal provider fee. The registration decals are mailed within 2-5 days from online sales and within 7-10 business days from the date of receipt by US mail with payment and the remittance coupon. Owners can then expect an additional 2-4 weeks for their decals to arrive by US Mail. The timelines may vary since printing and mailing are handled outside the agency.

    Any watercraft with a motor or sailboats 12 feet or longer are required to title and register with the Marine Board. Motorboat registration fees are $5 plus $5.95 per foot and are issued on a 2-year calendar basis.

    Renewing in the fall and winter is recommended to avoid long delays during the peak summer season. The renewal cycle begins on November 1st of the expiration year.

    Nonmotorized boaters with paddlecraft 10 feet and longer can also purchase waterway access permits through the Boat Oregon Store. A 7-day permit costs $5, an annual permit is $17, and a two-year permit is $30. Annual and two-year permits are also valid for the calendar year(s). Paddlers are encouraged to purchase permits early in the year to get the most out of permits. And because these permits can be saved or printed immediately, these make great stocking stuffers for the holidays! Especially when gifting paddlecraft.

    Visit the Boat Oregon Store help page with videos and written instructions on how to navigate the system to renew your motorboat registrations or purchase Waterway Access Permits.

    MIL OSI USA News –

  • MIL-OSI Economics: Call for Applications Digital Spark Challenge 2024

    Source: ASEAN

    Widely used social media platforms and rapidly evolving applications facilitate the fast and extensive dissemination of information. With social media and internet users spending a large amount of time online, young people can be vulnerable to fake news and become the targets and/or inadvertent disseminators of false information.
     
    Indonesia and Australia will co-host the Digital SPARK Challenge 2024 (hereinafter also referred to as the ‘Ideathon’) from 30 September to 3 October 2024 in Jakarta, Indonesia, in collaboration with The Asia Foundation and Love Frankie as the organising committee. The Ideathon will provide a platform for youth from ASEAN Member States (AMS), Timor-Leste and Australia to exchange views and pitch their ideas on innovative ways to address fake news and its impacts through social media campaigns.
     
    Through a 4-day immersive workshop, up to 24 teams of two (two teams from each participating country) will be invited as participants of the Ideathon to develop a deeper understanding on fake news identification and mitigation, as well as its impacts to society, and be equipped with communication and advocacy tools to address them. Participants will be guided through a collaborative and participatory learning process to develop ideas for powerful online campaigns to address this issue. Selected experts will serve as on-site mentors and judges. The winning team will be further supported to implement their campaign idea.
     
    Eligibility

    Below criteria and qualifications are applicable for every member of each team:
     
    Each team must consist of two (2) persons only.
    Must be between 18-25 years old at the time of application.
    Members of each team must be citizens of the same participating country (Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, The Philippines, Singapore, Thailand, Viet Nam, Timor-Leste, and Australia).
    Must not be government officials or affiliated with government.
    Must have the ability to travel (in-country and cross country) and own legitimate travel documents, such as a passport that is valid for at least six months beyond the date of arrival in Indonesia.
    Must be available to fully attend a 4-day program in-person in Jakarta, Indonesia from 30 September to 3 October 2024 (plus travel days).
    Both members of the winning team must be committed to collaborate with the organising committee in developing the campaign idea for implementation.
    Must be able to work and communicate in English.
    Have basic knowledge and experience in using social media platforms for creating online contents for public communication and accessing digital public data.
    Possess the ability to access the Internet and have relevant computer proficiency.
    Be highly motivated to engage collaboratively with representatives from diverse communities in order to strengthen understanding and enhance personal growth in alignment with the program’s goal.
    Demonstrate leadership skills, motivation, time management, accountability, and strong commitment to promoting social impact.
    Themes

    The Digital SPARK Challenge 2024 will focus on two main themes:
     
    Fake news, such as misinformation, disinformation, malinformation.
    Content manipulation, such as AI-generated contents, deepfakes.
    Other important issues such as hate speech, online bullying, privacy violation and online scams can also be covered as they relate to the above themes.

    Award

    All participants will have the opportunity to engage and learn from relevant experts during the Ideathon and will receive certificates of completion.
    In addition, the first-place winner will be awarded:
     
    Grant funding and ongoing mentorship support for campaign implementation.
    Campaign amplification and integration through ASEAN official communication channels.
    Registration
     
    Teams of two (2) participants each are required to register together. To apply, please fill in the form by 8 September 2024. You will be asked to provide your general information as well as provide short responses detailing your initial campaign idea in accordance with your selected theme. Applications will be assessed based on your response to the selection questions. The selected teams will be contacted by the organising committee.
     
    Selected teams will be supported with travel to/from Jakarta and accommodation during the program.
     
    For any questions, please contact Pattamon Wattanawanitchakorn (tae@lovefrankie.co) and taf.thailand.meeting@asiafoundation.org.

    The post Call for Applications Digital Spark Challenge 2024 appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI New Zealand: Fatal crash, Lake Road, Hauraki

    Source: New Zealand Police (National News)

    One person has died following a single vehicle crash where a car has collided with a power pole on Lake Road, Hauraki, today.

    Police responded to the crash just before 6am.

    One person was transported to hospital in a critical condition where they have since died.

    Three further people were transported to hospital, two in a moderate condition and one with minor injuries.

    The Serious Crash Unit conducted a scene examination and the road has since reopened.

    Enquiries into the circumstances of the crash are ongoing.

    ENDS

    Issued by Police Media Centre
     

    MIL OSI New Zealand News –

  • MIL-OSI USA: Biden-Harris Administration approves major disaster declaration request for Chaves County flooding

    Source: US State of New Mexico

    SANTA FE – Today, the Biden-Harris Administration approved Gov. Michelle Lujan Grisham’s request for a Major Disaster Declaration for New Mexico, an action that will release federal funds to support recovery efforts in response to the flooding that occurred over a weekend in Chaves County earlier this month.

    “The impacts of this historic flooding have been devastating for this community, and I am grateful to the Biden-Harris administration for acting quickly to provide support,” said Gov. Lujan Grisham. “We must work together and do all we can to assist Chaves County in their recovery.”

    The declaration will provide assistance to individuals, households and businesses in the affected areas of Chaves County.

    Public assistance will also be available for emergency work and the repair or replacement of disaster-damaged facilities, including debris removal and emergency protective measures and direct federal assistance for Chaves County.

    Individuals in Chavez County who have been impacted by the flooding event that occurred October 18-21 will be able to apply for assistance from FEMA soon.

    For questions about resources call the state disaster response and recovery hotline at 1-833- 663-4736 or visit dhsem.nm.gov/chavesflooding.

    MIL OSI USA News –

  • MIL-OSI: CORRECTION – Bogota Financial Corp. Reports Results for the Three and Nine Months Ended September 30, 2024 Corrected

    Source: GlobeNewswire (MIL-OSI)

    TEANECK, N.J., Nov. 01, 2024 (GLOBE NEWSWIRE) — Bogota Financial Corp. (NASDAQ: BSBK) (the “Company”), the holding company of Bogota Savings Bank (the “Bank”), after market close today issued a correction to its financial results for the three and nine months ended September 30, 2024 (the “Revised Earnings Release”), which was issued prior to market open on November 1, 2024 (the “Original Earnings Release”). Interest expense on deposits (and similarly total interest expense) for the three and nine months ended September 30, 2024 reported in the Original Earnings Release was understated by $300,000 due to a misstatement of the rates paid on certain certificates of deposit during the three months ended September 30, 2024. As a result, the Revised Earnings Release reflects the following changes:

    At September 30, 2024

        Average rate for certificates of deposit Average rate
    for deposits    		  
      As Initially Reported 4.15% 3.55%  
      As Corrected 4.39% 3.95%  
             

    For Three Months Ended September 30, 2024

    (Dollars in thousands, except per share data) Interest paid on average certificates of deposit Interest paid on average interest-bearing deposits Net interest income Net interest income after provision (recovery) for credit losses (Loss) income before income taxes Income tax (benefit) expense Net (loss) income (Loss) earnings per common share – basic (Loss) earnings per common share – diluted
    As Initially Reported $ 5,327 $ 5,861 $ 2,957 $ 2,957 $ (320 ) $ (173 ) $ (147 ) $ (0.01 ) $ (0.01 )
    As Corrected $ 5,627 $ 6,161 $ 2,657 $ 2,657 $ (620 ) $ (253 ) $ (367 ) $ (0.03 ) $ (0.03 )
                                                   
      Cost of average certificates of deposit Cost of average interest-bearing deposits (Loss) Return on Average Assets (Loss) Return on Average Equity Interest rate spread Net interest margin Efficiency Ratio
    As Initially Reported 4.26 % 3.84 % (0.09 )% (0.72 )% 0.81 % 1.24 % 109.75 %
    As Corrected 4.50 % 4.04 % (0.07 )% (0.52 )% 0.66 % 1.15 % 120.78 %
                                 

    For Nine Months Ended September 30, 2024

    (Dollars in thousands, except per share data) Interest paid on average certificates of deposit Interest paid on average interest-bearing deposits Net interest income Net interest income after provision (recovery) for credit losses (Loss) income before income taxes Income tax (benefit) expense Net (loss) income (Loss) earnings per common share – basic (Loss) earnings per common share – diluted
    As Initially Reported $ 16,484 $ 18,085 $ 8,352 $ 8,282 $ (1,762 ) $ (741 ) $ (1,020 ) $ (0.08 ) $ (0.08 )
    As Corrected $ 16,784 $ 18,385 $ 8,052 $ 7,982 $ (2,062 ) $ (821 ) $ (1,240 ) $ (0.10 ) $ (0.10 )
                                                   
                                                   
      Cost of average certificates of deposit Cost of average interest-bearing deposits (Loss) Return on Average Assets (Loss) Return on Average Equity Interest rate spread Net interest margin Efficiency Ratio
    As Initially Reported 4.31 % 3.88 % (0.17 )% (1.23 )% 0.73 % 1.23 % 118.23 %
    As Corrected 4.39 % 3.95 % (0.20 )% (1.44 )% 0.68 % 1.18 % 122.18 %
                                 

    The full text of the corrected release is a follows:

    Teaneck, New Jersey, November 1, 2024 – Bogota Financial Corp. (NASDAQ: BSBK) (the “Company”), the holding company for Bogota Savings Bank (the “Bank”), reported a net loss for the three months ended September 30, 2024 of $367,000, or $0.03 per basic and diluted share, compared to a net loss of $29,000, or $0.00 per basic and diluted share, for the comparable prior year period. The Company reported a net loss for the nine months ended September 30, 2024 of $1.2 million, or $0.10 per basic and diluted share, compared to net income of $1.8 million, or $0.14 per basic and diluted share, for the nine months ended September 30, 2023.

    On April 24, 2024, the Company announced it had received regulatory approval for the repurchase of up to 237,090 shares of its common stock, or approximately 5% of its then outstanding common stock (excluding shares held by Bogota Financial, MHC). The repurchase program does not have a scheduled expiration date and the Board of Directors has the right to suspend or discontinue the program at any time. As of September 30, 2024, 163,790 shares have been repurchased pursuant to the program at a cost of $1.2 million.

    Other Financial Highlights:

    • Total assets increased $39.6 million, or 4.2%, to $978.9 million at September 30, 2024 from $939.3 million at December 31, 2023, due to an increase in securities, offset by a decrease in cash and cash equivalents and loans.
    • Cash and cash equivalents decreased $3.9 million, or 15.8%, to $21.0 million at September 30, 2024 from $24.9 million at December 31, 2023 as excess funds were used to purchase securities.
    • Securities increased $47.1 million, or 33.3%, to $188.7 million at September 30, 2024 from $141.5 million at December 31, 2023.
    • Net loans decreased $5.8 million, or 0.8%, to $708.9 million at September 30, 2024 from $714.7 million at December 31, 2023.
    • Total deposits at September 30, 2024 were $629.3 million, increasing $3.9 million, or 0.6%, as compared to $625.3 million at December 31, 2023, due to a $2.3 million increase in interest-bearing deposits, primarily in certificates of deposit, and a $1.6 million increase in non-interest bearing demand accounts. The average cost of deposits increased 128 basis points to 3.95% for the first three quarters of 2024 from 2.67% for the first nine months of 2023 due to higher interest rates and a larger percentage of deposits consisting of higher-costing certificates of deposit.
    • Federal Home Loan Bank advances increased $34.9 million, or 20.8% to $202.6 million at September 30, 2024 from $167.7 million as of December 31, 2023.

    Kevin Pace, President and Chief Executive Officer, said “The Bank continues its growth strategy focusing on core deposits and commercial lending. We have seen an uptick in our commercial pipeline this quarter that shows interest remains strong in our market. Offering new desirable technology through partnerships with our providers is a key initiative we are focusing on going into 2025.  This will allow us to attract new customers in our competitive environment.”

    “The Bank completed its third stock repurchase program earlier this year and promptly began its fourth buyback. We remain diligent in our efforts to show confidence and deliver value to our shareholders.”

    Income Statement Analysis

    Comparison of Operating Results for the Three Months Ended September 30, 2024 and September 30, 2023

    Net income decreased by $338,000 to a net loss of $367,000 for the three months ended September 30, 2024 from a net loss of $29,000 for the three months ended September 30, 2023. This decrease was primarily due to a decrease of $560,000 in net interest income, partially offset by a decrease of $171,000 in salaries and employee benefit costs, an increase of $128,000 in income tax benefit and a $38,000 increase in non-interest income.

    Interest income increased $1.3 million, or 14.3%, from $9.3 million for the three months ended September 30, 2023 to $10.6 million for the three months ended September 30, 2024 primarily due to higher yields on interest-earning assets and an increase in the average balance of securities. 

    Interest income on cash and cash equivalents decreased $30,000, or 17.9%, to $138,000 for the three months ended September 30, 2024 from $168,000 for the three months ended September 30, 2023 due to a $2.6 million decrease in the average balance to $10.2 million for the three months ended September 30, 2024 from $12.8 million for the three months ended September 30, 2023, reflecting the use of excess cash to purchase securities. The decrease was offset by an 18 basis point increase in the average yield from 5.21% for the three months ended September 30, 2023 to 5.39% for the three months ended September 30, 2024 due to the higher interest rate environment.

    Interest income on loans increased $401,000, or 5.0%, to $8.4 million for the three months ended September 30, 2024 compared to $8.0 million for the three months ended September 30, 2023 due primarily to a 24 basis point increase in the average yield from 4.45% for the three months ended September 30, 2023 to 4.69% for the three months ended September 30, 2024, and to a lesser extent, a $876,000 increase in the average balance to $711.6 million for the three months ended September 30, 2024 from $710.7 million for the three months ended September 30, 2023.

    Interest income on securities increased $889,000, or 88.2%, to $1.9 million for the three months ended September 30, 2024 from $1.0 million for the three months ended September 30, 2023 primarily due to a $48.7 million increase in the average balance to $187.2 million for the three months ended September 30, 2024 from $138.5 million for the three months ended September 30, 2023, and a 114 basis point increase in the average yield from 2.91% for the three months ended September 30, 2023 to 4.05% for the three months ended September 30, 2024 due to the higher interest rate environment. 

    Interest expense increased $1.9 million, or 31.1%, from $6.1 million for the three months ended September 30, 2023 to $8.0 million for the three months ended September 30, 2024 due to higher costs and average balances on certificates of deposit and borrowings.

    Interest expense on interest-bearing deposits increased $1.3 million, or 27.0%, to $6.2 million for the three months ended September 30, 2024 from $4.9 million for the three months ended September 30, 2023. The increase was due to a 93 basis point increase in the average cost of deposits to 4.04% for the three months ended September 30, 2024 from 3.11% for the three months ended September 30, 2023. The increase in the average cost of deposits was due to the higher interest rate environment and a change in the composition of the deposit portfolio.  The average balances of certificates of deposit decreased $831,000 to $497.3 million for the three months ended September 30, 2024 from $498.1 million for the three months ended September 30, 2023 while the average balance of NOW/money market accounts and savings accounts decreased $9.0 million and $2.1 million for the three months ended September 30, 2024, respectively, compared to the three months ended September 30, 2023.

    Interest expense on Federal Home Loan Bank advances increased $582,000, or 47.7%, from $1.2 million for the three months ended September 30, 2023 to $1.8 million for the three months ended September 30, 2024. The increase was primarily due to an increase in the average balance of $71.6 million to $196.9 million for the three months ended September 30, 2024 from $125.3 million for the three months ended September 30, 2023. The increase was slightly offset by a decrease in the average cost of borrowings of 22 basis points to 3.64% for the three months ended September 30, 2024 from 3.86% for the three months ended September 30, 2023 due to new borrowings being at lower rates. At September 30, 2024, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value. During the three months ended September 30, 2024, the use of the cash flow and fair value hedges reduced the interest expense on the Federal Home Loan Bank advances and certificates of deposit by $498,000.

    Net interest income decreased $560,000, or 17.4%, to $2.7 million for the three months ended September 30, 2024 from $3.2 million for the three months ended September 30, 2023.  The decrease reflected a 35 basis point decrease in our net interest rate spread to 0.66% for the three months ended September 30, 2024 from 1.01% for the three months ended September 30, 2023. Our net interest margin decreased 32 basis points to 1.15% for the three months ended September 30, 2024 from 1.47% for the three months ended September 30, 2023.

    We did not record a provision for credit losses for the three months ended September 30, 2024 or September 30, 2023 due to moderate loan growth and improved economic conditions.

    Non-interest income increased by $38,000, or 13.0%, to $327,000 for the three months ended September 30, 2024 from $290,000 for the three months ended September 30, 2023.  Bank-owned life insurance income increased $23,000, or 11.6%, due to higher balances during 2024 and gain on sale of loans increased $12,000 compared to no gain on sale of loans for the comparable period last year due to the sale of a $400,000 residential loan in 2024.

    For the three months ended September 30, 2024, non-interest expense decreased $56,000, or 1.5%, over the comparable 2023 period. This was due to a $171,000, or 7.5% reduction in salaries and employee benefits, which decreased due to lower headcount and increased expenses in 2023 related to the retirement of the previous Chief Executive Officer, and a $40,000, or 31.9%, decrease in advertising expenses.  Our FDIC insurance assessment also decreased by $26,000, or 19.8%.  These decreases were partially offset by an increase in professional fees of $99,000, or 66.4%, due to higher consulting expense related to strategic business planning. Data processing expense also increased $100,000, or 48.8%, due to higher processing costs.

    Income tax expense decreased $128,000, or 102.1%, to a benefit of $253,000 for the three months ended September 30, 2024 from a $125,000 benefit for the three months ended September 30, 2023. The decrease was due to a reduction of $466,000 in taxable income. 

    Comparison of Operating Results for the Nine Months Ended September 30, 2024 and September 30, 2023

    Net income decreased by $3.1 million, or 168.1%, to a net loss of $1.2 million for the nine months ended September 30, 2024 from net income of $1.8 million for the nine months ended September 30, 2023.   This decrease was primarily due to a decrease of $4.0 million in net interest income, partially offset by a decrease of $1.2 million in income tax expense.

    Interest income increased $3.4 million, or 12.4%, from $27.7 million for the nine months ended September 30, 2023 to $31.1 million for the nine months ended September 30, 2024 due to higher yields on interest-earning assets and an increase in the average balance of securities, partially offset by a decrease in the average balance of loans and cash and cash equivalents. 

    Interest income on cash and cash equivalents decreased $8,000, or 1.9%, to $415,000 for the nine months ended September 30, 2024 from $423,000 for the nine months ended September 30, 2023 due a $2.3 million decrease in the average balance to $9.1 million for the nine months ended September 30, 2024 from $11.4 million for the nine months ended September 30, 2023, reflecting the decrease of liquidity due to increased securities purchases. This decrease was offset by a 111 basis point increase in the average yield due to the higher interest rate environment.

    Interest income on loans increased $1.1 million, or 4.5%, to $24.9 million for the nine months ended September 30, 2024 compared to $23.8 million for the nine months ended September 30, 2023 due primarily to a 20 basis point increase in the average yield from 4.46% for the nine months ended September 30, 2023 to 4.66% for the nine months ended September 30, 2024, offset by a $1.9 million decrease in the average balance to $711.7 million for the nine months ended September 30, 2024 from $713.6 million for the nine months ended September 30, 2023.

    Interest income on securities increased $2.2 million, or 69.4%, to $5.3 million for the nine months ended September 30, 2024 from $3.1 million for the nine months ended September 30, 2023 primarily due to a 112 basis point increase in the average yield from 2.80% for the nine months ended September 30, 2023 to 3.92% for the nine months ended September 30, 2024, and a $31.0 million increase in the average balance to $179.8 million for the nine months ended September 30, 2024 from $148.8 million for the nine months ended September 30, 2023.

    Income from other interest-earning assets, which primarily consisted of Federal Home Loan Bank stock, increased $209,000, or 27.1% to $981,000 for the nine months ended September 30, 2024 from $772,000 for the nine months ended September 30, 2023 due to dividends paid on such stock.

    Interest expense increased $7.4 million, or 47.4%, from $15.7 million for the nine months ended September 30, 2023 to $23.1 million for the nine months ended September 30, 2024 due to higher costs and average balances on certificates of deposit and borrowings.

    Interest expense on interest-bearing deposits increased $5.6 million, or 43.9%, to $18.4 million for the nine months ended September 30, 2024 from $12.8 million for the nine months ended September 30, 2023. The increase was due to a 128 basis point increase in the average cost of deposits to 3.95% for the nine months ended September 30, 2024 from 2.67% for the nine months ended September 30, 2023. The increase in the average cost of deposits was due to the higher interest rate environment and a change in the composition of the deposit portfolio.  The average balances of certificates of deposit increased $12.0 million to $510.5 million for the nine months ended September 30, 2024 from $498.5 million for the nine months ended September 30, 2023 while average NOW/money market accounts and savings accounts decreased $24.2 million and $5.7 million for the nine months ended September 30, 2024, respectively, compared to the nine months ended September 30, 2023.

    Interest expense on Federal Home Loan Bank advances increased $1.8 million, or 62.7%, from $2.9 million for the nine months ended September 30, 2023 to $4.7 million for the nine months ended September 30, 2024. The increase was primarily due to an increase in the average balance of $60.7 million to $171.6 million for the nine months ended September 30, 2024 from $110.9 million for the nine months ended September 30, 2023. The increase was also due to an increase in the average cost of borrowings of 17 basis points to 3.67% for the nine months ended September 30, 2024 from 3.50% for the nine months ended September 30, 2023 due to new borrowings being at higher rates. At September 30, 2024, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value. During the nine months ended September 30, 2024, the use of the cash flow hedges reduced the interest expense on the Federal Home Loan Bank advances and certificates of deposit by $1.2 million.

    Net interest income decreased $4.0 million, or 33.1%, to $8.0 million for the nine months ended September 30, 2024 from $12.0 million for the nine months ended September 30, 2023.  The decrease reflected a 73 basis point decrease in our net interest rate spread to 0.68% for the nine months ended September 30, 2024 from 1.41% for the nine months ended September 30, 2023. Our net interest margin decreased 64 basis points to 1.18% for the nine months ended September 30, 2024 from 1.82% for the nine months ended September 30, 2023.

    We recorded a $70,000 provision for credit losses for the nine months ended September 30, 2024 compared to a $125,000 recovery for credit losses for the nine-month period ended September 30, 2023, which was due to a decrease in loan balances in 2023. The entire provision in the first three quarters of 2024 was due to an increase in held-to-maturity corporate securities.

    Non-interest income increased by $73,000, or 8.5%, to $929,000 for the nine months ended September 30, 2024 from $856,000 for the nine months ended September 30, 2023.  The increase was primarily due to bank-owned life insurance income, which increased $74,000, or 12.9%, due to higher balances during 2024.

    For the nine months ended September 30, 2024, non-interest expense increased $163,000, or 1.5%, over the comparable 2023 period. Professional fees increased $270,000, or 65.5% due to higher consulting expense related to strategic business planning. Data processing expense increased $210,000, or 29.3%, due to higher processing costs. These were offset by a $333,000, or 4.9%, reduction in salaries and employee benefit, which decreased due to lower headcount and increased expenses in 2023 related to the retirement of the previous Chief Executive Officer.

    Income tax expense decreased $1.2 million, or 312.9%, to a benefit of $821,000 for the nine months ended September 30, 2024 from a $386,000 expense for the nine months ended September 30, 2023. The decrease was due to a reduction of $4.3 million in taxable income. 

    Balance Sheet Analysis

    Total assets were $978.9 million at September 30, 2024, representing an increase of $39.6 million, or 4.2%, from December 31, 2023.  Cash and cash equivalents decreased $3.9 million during the period primarily due to the purchase of new securities offset by loan repayments. Net loans decreased $5.8 million, or 0.8%, due to $22.5 million in repayments including a $12.6 million decrease in the balance of residential loans, as well as a $9.1 million decrease in the balance of construction loans and a decrease of $915,000 in multifamily loans. The decrease was partially offset by new production of $16.7 million, including $13.1 million and $3.6 million of commercial real estate and commercial and industrial loans, respectively.  The Company also purchased a pool of residential loans totaling $10.4 million. Due to the interest rate environment, we have experienced a decrease in demand for residential and construction loans, which have been primary drivers of our loan growth in recent periods.  Securities held to maturity increased $7.4 million, or 10.3%, and securities available for sale increased $40.0 million, or 57.6%, due to new purchases of mortgage-backed securities with excess cash. 

    Delinquent loans increased $8.9 million to $21.5 million, or 3.0% of total loans, at September 30, 2024, compared to $12.6 million, or 1.8% of total loans, at December 31, 2023. The increase was mostly due to four commercial real estate loans to three customers with a balance of $8.1 million. Three of the past due commercial real estate loans are being actively managed with the customers and are expected to be brought current, while one totaling $758,000 has been placed on nonaccrual, but is considered well-secured with a loan-to-value of 59%. During the same timeframe, non-performing assets increased from $12.8 million at December 31, 2023 to $13.8 million, which represented 1.41% of total assets at September 30, 2024. No loans were charged-off during the three or nine months ended September 30, 2024 or September 30, 2023. The Company’s allowance for credit losses related to loans was 0.39% of total loans and 19.94% of non-performing loans at September 30, 2024 compared to 0.39% of total loans and 21.81% of non-performing loans at December 31, 2023.  The Bank does not have any exposure to commercial real estate loans secured by office space. At September 30, 2024, the Company’s allowance for credit losses related to held-to-maturity securities totaled $108,000 or 0.13% of the total held-to-maturity securities portfolio.

    Total liabilities increased $39.8 million, or 5.0%, to $841.9 million mainly due to a $34.9 million increase in borrowings and a $3.9 million increase in total deposits. The increase in deposits reflected an increase in certificate of deposit accounts, which increased by $505,000 to $493.8 million from $493.3 million at December 31, 2023, an increase in NOW deposit accounts, which increased by $4.2 million to $45.5 million from $41.3 million at December 31, 2023, and by an increase in noninterest bearing demand accounts, which increased by $1.6 million from $30.6 million at December 31, 2023 to $32.1 million at September 30, 2024. This was offset by a $2.6 million, or 18.0%, decrease in money market accounts.  At September 30, 2024, brokered deposits were $101.1 million or 16.1% of deposits and municipal deposits were $36.0 million or 5.7% of deposits.  At September 30, 2024, uninsured deposits represented 10.7% of the Bank’s total deposits. Federal Home Loan Bank advances increased $34.9 million, or 20.8%, due to new borrowings, for which the durations have primarily been short-term in nature as we remain mindful of the changing interest rate environment and the potential for further interest rate cuts from the Federal Reserve. Total borrowing capacity at the Federal Home Loan Bank is $297.9 million of which $202.7 million has been advanced.

    Total stockholders’ equity decreased $233,000 to $136.9 million, due to a net loss of $1.2 million and the repurchase of 163,790 shares of stock at a cost of $1.2 million, offset by a decrease in accumulated other comprehensive loss for securities available for sale of $1.6 million and stock compensation of $225,000 for the nine months ended September 30, 2024. At September 30, 2024, the Company’s ratio of average stockholders’ equity-to-total assets was 15.04%, compared to 15.32% at December 31, 2023.

    About Bogota Financial Corp.

    Bogota Financial Corp. is a Maryland corporation organized as the mid-tier holding company of Bogota Savings Bank and is the majority-owned subsidiary of Bogota Financial, MHC. Bogota Savings Bank is a New Jersey chartered stock savings bank that has served the banking needs of its customers in northern and central New Jersey since 1893. It operates from seven offices located in Bogota, Hasbrouck Heights, Upper Saddle River, Newark, Oak Ridge, Parsippany and Teaneck, New Jersey and operates a loan production office in Spring Lake, New Jersey.

    Forward-Looking Statements

    This press release contains certain forward-looking statements about the Company and the Bank. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, inflation, general economic conditions or conditions within the securities markets, real estate market values in the Bank’s lending area, changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio; the availability of low-cost funding; our continued reliance on brokered and municipal deposits; demand for loans in our market area; changes in the quality of our loan and security portfolios, economic assumptions or changes in our methodology, either of which may impact our allowance for credit losses calculation, increases in non-performing and classified loans, monetary and fiscal policies of the U.S. Government including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, a failure in or breach of the Company’s operational or security systems or infrastructure, including cyberattacks, the failure to maintain current technologies, failure to retain or attract employees and legislative, accounting and regulatory changes that could adversely affect the business in which the Company and the Bank are engaged.
    The Company undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.

    BOGOTA FINANCIAL CORP.
    CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
    (unaudited)
               
      As of     As of  
      September 30, 2024     December 31, 2023  
    Assets              
    Cash and due from banks $ 10,630,086     $ 13,567,115  
    Interest-bearing deposits in other banks   10,372,434       11,362,356  
    Cash and cash equivalents   21,002,520       24,929,471  
    Securities available for sale, at fair value   108,560,811       68,888,179  
    Securities held to maturity, net of allowance for securities credit losses of $108,000 and zero, respectively (fair value – $74,603,097 and $65,374,753, respectively)   80,103,753       72,656,179  
    Loans, net of allowance for credit losses of $2,747,949 and $2,785,949, respectively   708,896,566       714,688,635  
    Premises and equipment, net   7,853,076       7,687,387  
    Federal Home Loan Bank (FHLB) stock and other restricted securities   10,180,100       8,616,100  
    Accrued interest receivable   4,352,967       3,932,785  
    Core deposit intangibles   165,454       206,116  
    Bank-owned life insurance   31,635,988       30,987,851  
    Other assets   6,138,029       6,731,500  
    Total Assets $ 978,889,264     $ 939,324,203  
    Liabilities and Equity              
    Non-interest bearing deposits $ 32,125,742     $ 30,554,842  
    Interest bearing deposits   597,141,995       594,792,300  
    Total deposits   629,267,737       625,347,142  
    FHLB advances-short term   53,500,000       37,500,000  
    FHLB advances-long term   149,065,610       130,189,663  
    Advance payments by borrowers for taxes and insurance   3,265,262       2,733,709  
    Other liabilities   6,850,898       6,380,486  
    Total liabilities   841,949,507       802,151,000  
                   
    Stockholders’ Equity              
    Preferred stock $0.01 par value 1,000,000 shares authorized, none issued and outstanding at September 30, 2024 and December 31, 2023   —       —  
    Common stock $0.01 par value, 30,000,000 shares authorized, 13,092,357 issued and outstanding at September 30, 2024 and 13,279,230 at December 31, 2023   130,823       132,792  
    Additional paid-in capital   55,315,975       56,149,915  
    Retained earnings   90,936,649       92,177,068  
    Unearned ESOP shares (389,674 shares at September 30, 2024 and 409,750 shares at December 31, 2023)   (4,595,895 )     (4,821,798 )
    Accumulated other comprehensive loss   (4,847,795 )     (6,464,774 )
    Total stockholders’ equity   136,939,757       137,173,203  
    Total liabilities and stockholders’ equity $ 978,889,264     $ 939,324,203  
     
    BOGOTA FINANCIAL CORP.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (unaudited)
     
      Three Months Ended     Nine Months Ended  
      September 30,     September 30,  
      2024     2023     2024     2023  
    Interest income                              
    Loans, including fees $ 8,381,581     $ 7,980,388     $ 24,888,377     $ 23,821,545  
    Securities                              
    Taxable   1,884,276       994,791       5,247,336       3,042,389  
    Tax-exempt   13,137       13,159       39,409       78,293  
    Other interest-earning assets   341,268       301,081       980,536       771,584  
    Total interest income   10,620,262       9,289,419       31,155,658       27,713,811  
    Interest expense                              
    Deposits   6,160,547       4,851,926       18,384,323       12,777,907  
    FHLB advances   1,802,387       1,220,166       4,719,056       2,900,359  
    Total interest expense   7,962,934       6,072,092       23,103,379       15,678,266  
    Net interest income   2,657,328       3,217,327       8,052,279       12,035,545  
    Provision (recovery) for credit losses   —       —       70,000       (125,000 )
    Net interest income after provision (recovery) for credit losses   2,657,328       3,217,327       7,982,279       12,160,545  
    Non-interest income                              
    Fees and service charges   56,610       61,529       164,400       159,381  
    Gain on sale of loans   11,710       —       11,710       29,375  
    Bank-owned life insurance   221,122       197,873       648,137       574,073  
    Other   37,943       30,332       105,420       93,660  
    Total non-interest income   327,385       289,734       929,667       856,489  
    Non-interest expense                              
    Salaries and employee benefits   2,102,993       2,274,347       6,404,946       6,737,952  
    Occupancy and equipment   380,714       372,626       1,118,739       1,114,170  
    FDIC insurance assessment   106,313       132,571       313,626       319,690  
    Data processing   306,167       205,721       928,292       717,913  
    Advertising   85,750       126,000       310,950       369,383  
    Director fees   159,851       159,336       467,100       478,011  
    Professional fees   248,420       149,251       682,517       412,519  
    Other   214,686       241,530       747,598       661,300  
    Total non-interest expense   3,604,894       3,661,382       10,973,768       10,810,938  
    (Loss) income before income taxes   (620,181 )     (154,321 )     (2,061,822 )     2,206,096  
    Income tax (benefit) expense   (253,221 )     (125,268 )     (821,403 )     385,801  
    Net (loss) income $ (366,960 )   $ (29,053 )   $ (1,240,419 )   $ 1,820,295  
    (Loss) earnings per Share – basic $ (0.03 )   $ (0.00 )   $ (0.10 )   $ 0.14  
    (Loss) earnings per Share – diluted $ (0.03 )   $ (0.00 )   $ (0.10 )   $ 0.14  
    Weighted average shares outstanding – basic   12,702,683       13,037,903       12,702,683       13,103,951  
    Weighted average shares outstanding – diluted   12,717,904       13,037,903       12,734,624       13,103,951  
                                   
    BOGOTA FINANCIAL CORP.
    SELECTED RATIOS
    (unaudited)
               
      At or For the Three Months     At or for the Nine Months  
      Ended September 30,     Ended September 30,  
      2024     2023     2024     2023  
    Performance Ratios (1):                              
    (Loss) return on average assets (2)   (0.07 )%     (0.01 )%     (0.20 )%     0.26 %
    (Loss) return on average equity (3)   (0.52 )%     (0.08 )%     (1.44 )%     1.75 %
    Interest rate spread (4)   0.66 %     1.01 %     0.68 %     1.41 %
    Net interest margin (5)   1.15 %     1.47 %     1.18 %     1.82 %
    Efficiency ratio (6)   120.78 %     104.40 %     122.18 %     83.05 %
    Average interest-earning assets to average interest-bearing liabilities   114.30 %     116.68 %     114.62 %     117.21 %
    Net loans to deposits   110.67 %     110.08 %     114.43 %     110.08 %
    Average equity to average assets (7)   14.01 %     15.00 %     14.14 %     14.88 %
    Capital Ratios:                              
    Tier 1 capital to average assets                   13.47 %     15.67 %
    Asset Quality Ratios:                              
    Allowance for credit losses as a percent of total loans                   0.39 %     0.39 %
    Allowance for credit losses as a percent of non-performing loans                   19.94 %     22.62 %
    Net charge-offs to average outstanding loans during the period                   0.00 %     0.00 %
    Non-performing loans as a percent of total loans                   1.94 %     1.73 %
    Non-performing assets as a percent of total assets                   1.41 %     1.33 %
                                   
    (1) Certain performance ratios for the three and nine months ended September 30, 2024 and 2023 are annualized.
    (2) Represents net (loss) income divided by average total assets.
    (3) Represents net (loss) income divided by average stockholders’ equity.
    (4) Represents the difference between the weighted average yield on average interest-earning assets and the weighted average cost of average interest-bearing liabilities. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5% for 2024 and 2023.
    (5) Represents net interest income as a percent of average interest-earning assets. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5% for 2024 and 2023.
    (6) Represents non-interest expenses divided by the sum of net interest income and non-interest income.
    (7) Represents average stockholders’ equity divided by average total assets.
     

    LOANS

    Loans are summarized as follows at September 30, 2024 and December 31, 2023:

     
      September 30,     December 31,  
      2024     2023  
      (unaudited)  
    Real estate:              
    Residential First Mortgage $ 473,492,871     $ 486,052,422  
    Commercial Real Estate   112,899,496       99,830,514  
    Multi-Family Real Estate   74,697,352       75,612,566  
    Construction   40,243,916       49,302,040  
    Commercial and Industrial   10,229,503       6,658,370  
    Consumer   81,377       18,672  
    Total loans   711,644,515       717,474,584  
    Allowance for credit losses   (2,747,949 )     (2,785,949 )
    Net loans $ 708,896,566     $ 714,688,635  
     

    The following tables set forth the distribution of total deposit accounts, by account type, at the dates indicated:

     
      At September 30,     At December 31,  
      2024     2023  
      Amount     Percent     Average
    Rate    		     Amount     Percent     Average
    Rate    		  
                                                   
      (unaudited)  
    Noninterest bearing demand accounts $ 32,125,742       5.11 %     — %   $ 30,554,842       4.89 %     — %
    NOW accounts   45,493,204       7.23 %     2.21       41,320,723       6.61 %     1.90  
    Money market accounts   12,003,291       1.91 %     0.30       14,641,846       2.34 %     0.30  
    Savings accounts   45,865,501       7.29 %     1.82       45,554,964       7.28 %     1.76  
    Certificates of deposit   493,779,999       78.47 %     4.15       493,274,767       78.88 %     4.00  
    Total $ 629,267,737       100.00 %     3.55 %   $ 625,347,142       100.00 %     3.42 %
     

    Average Balance Sheets and Related Yields and Rates

    The following tables present information regarding average balances of assets and liabilities, the total dollar amounts of interest income and dividends from average interest-earning assets, the total dollar amounts of interest expense on average interest-bearing liabilities, and the resulting annualized average yields and costs. The yields and costs for the periods indicated are derived by dividing income or expense by the average balances of assets or liabilities, respectively, for the periods presented. Average balances have been calculated using daily balances. Nonaccrual loans are included in average balances only. Loan fees are included in interest income on loans and are not material.

     
      Three Months Ended September 30,  
      2024     2023  
      Average
    Balance    		     Interest and Dividends     Yield/ Cost     Average
    Balance    		     Interest and Dividends     Yield/ Cost  
      (Dollars in thousands)  
    Assets: (unaudited)  
    Cash and cash equivalents $ 10,195     $ 138       5.39 %   $ 12,764     $ 168       5.21 %
    Loans   711,601       8,381       4.69 %     710,725       7,981       4.45 %
    Securities   187,212       1,897       4.05 %     138,479       1,008       2.91 %
    Other interest-earning assets   9,908       203       8.20 %     6,620       132       8.04 %
    Total interest-earning assets   918,916       10,619       4.60 %     868,588       9,289       4.25 %
                                                   
    Non-interest-earning assets   56,061                       54,179                  
    Total assets $ 974,977                     $ 922,767                  
    Liabilities and equity:                                              
    NOW and money market accounts $ 65,767     $ 329       1.99 %   $ 74,785     $ 354       1.88 %
    Savings accounts   44,029       205       1.85 %     46,177       214       1.83 %
    Certificates of deposit (1)   497,251       5,626       4.50 %     498,082       4,284       3.41 %
    Total interest-bearing deposits   607,047       6,160       4.04 %     619,044       4,852       3.11 %
                                                   
    Federal Home Loan Bank advances (1)   196,885       1,802       3.64 %     125,344       1,220       3.86 %
    Total interest-bearing liabilities   803,932       7,962       3.94 %     744,388       6,072       3.24 %
    Non-interest-bearing deposits   31,679                       38,257                  
    Other non-interest-bearing liabilities   2,724                       1,727                  
    Total liabilities   838,335                       784,372                  
                                                   
    Total equity   136,642                       138,395                  
    Total liabilities and equity $ 974,977                     $ 922,767                  
    Net interest income         $ 2,657                     $ 3,217          
    Interest rate spread (2)                   0.66 %                     1.01 %
    Net interest margin (3)                   1.15 %                     1.47 %
    Average interest-earning assets to average interest-bearing liabilities   114.30 %                     116.68 %                
     
    1. Cash flow and fair value hedges are used to manage interest rate risk. During the three months ended September 30, 2024 and 2023, the net effect on interest expense on the Federal Home Loan Bank advances and certificates of deposit was a reduced expense of $498,000 and $92,000, respectively.
    2. Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
    3. Net interest margin represents net interest income divided by average total interest-earning assets.
     
      Nine Months Ended September 30,  
      2024     2023  
      Average Balance     Interest and Dividends     Yield/ Cost     Average Balance     Interest and Dividends     Yield/ Cost  
      (Dollars in thousands)  
    Assets:                                              
    Cash and cash equivalents $ 9,072     $ 415       6.09 %   $ 11,352     $ 423       4.98 %
    Loans   711,697       24,888       4.66 %     713,603       23,822       4.46 %
    Securities   179,818       5,287       3.92 %     148,802       3,121       2.80 %
    Other interest-earning assets   8,903       566       8.48 %     6,110       348       7.62 %
    Total interest-earning assets   909,490       31,156       4.57 %     879,867       27,714       4.20 %
    Non-interest-earning assets   58,221                       54,380                  
    Total assets $ 967,711                     $ 934,247                  
    Liabilities and equity:                                              
    NOW and money market accounts $ 67,628     $ 993       1.96 %   $ 91,781     $ 1,089       1.59 %
    Savings accounts   43,824       608       1.85 %     49,529       375       1.01 %
    Certificates of deposit (1)   510,494       16,784       4.39 %     498,460       11,314       3.03 %
    Total interest-bearing deposits   621,946       18,385       3.95 %     639,770       12,778       2.67 %
    Federal Home Loan Bank advances (1)   171,565       4,719       3.67 %     110,875       2,900       3.50 %
    Total interest-bearing liabilities   793,511       23,104       3.89 %     750,645       15,678       2.79 %
    Non-interest-bearing deposits   31,225                       38,253                  
    Other non-interest-bearing liabilities   6,154                       6,351                  
    Total liabilities   830,890                       795,249                  
    Total equity   136,821                       138,998                  
    Total liabilities and equity $ 967,711                     $ 934,247                  
    Net interest income         $ 8,052                     $ 12,036          
    Interest rate spread (2)                   0.68 %                     1.41 %
    Net interest margin (3)                   1.18 %                     1.82 %
    Average interest-earning assets to average interest-bearing liabilities   114.62 %                     117.21 %                
     
    1. Cash flow and fair value hedges are used to manage interest rate risk. During the nine months ended September 30, 2024 and 2023, the net effect on interest expense on the Federal Home Loan Bank advances and certificates of deposit was a reduced expense of $1.2 million and $139,000, respectively.
    2. Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
    3. Net interest margin represents net interest income divided by average total interest-earning assets.
     

    Rate/Volume Analysis

    The following table sets forth the effects of changing rates and volumes on net interest income. The rate column shows the effects attributable to changes in rate (changes in rate multiplied by prior volume). The volume column shows the effects attributable to changes in volume (changes in volume multiplied by prior rate). The net column represents the sum of the prior columns. Changes attributable to changes in both rate and volume that cannot be segregated have been allocated proportionally based on the changes due to rate and the changes due to volume.

     
      Three Months Ended September 30, 2024     Nine Months Ended September 30, 2024  
      Compared to     Compared to  
      Three Months Ended September 30, 2023     Nine Months Ended September 30, 2023  
      Increase (Decrease) Due to     Increase (Decrease) Due to  
      Volume     Rate     Net     Volume     Rate     Net  
      (In thousands)  
    Interest income: (unaudited)  
    Cash and cash equivalents $ (66 )   $ 36     $ (30 )   $ (123 )   $ 115     $ (8 )
    Loans receivable   9       391       400       (101 )     1,167       1,066  
    Securities   420       469       889       742       1,424       2,166  
    Other interest earning assets   68       3       71       175       43       218  
    Total interest-earning assets   432       898       1,330       692       2,750       3,442  
                                                   
    Interest expense:                                              
    NOW and money market accounts   (128 )     103       (25 )     (413 )     317       (96 )
    Savings accounts   (24 )     15       (9 )     (73 )     306       233  
    Certificates of deposit   (49 )     1,391       1,342       279       5,191       5,470  
    Federal Home Loan Bank advances   1,031       (449 )     582       1,667       152       1,819  
    Total interest-bearing liabilities   830       1,060       1,890       1,461       5,965       7,426  
    Net decrease in net interest income $ (398 )   $ (162 )   $ (560 )   $ (768 )   $ (3,216 )   $ (3,984 )
     

    Contacts
    Kevin Pace – President & CEO, 201-862-0660 ext. 1110

    The MIL Network –

  • MIL-OSI China: Anticipated ‘Gods’ sequel to grace potential blockbuster holiday season

    Source: China State Council Information Office 3

    “After much anticipation, ‘Creation of the Gods II’ is finally scheduled!” wrote one thrilled Weibo user, echoing the collective excitement of eager fans.

    Celebrating the epic’s return to China’s box office after an initial summer release plan was dropped due to reported post-production delays, a poster on Weibo declared, “The saga continues, the myth endures — fans’ calls have been answered.”

    Unsurprisingly, news of “Creation of the Gods II” — the second installment in director Wuershan’s highly-anticipated trilogy — securing a Spring Festival release on Lunar New Year’s Day, Jan. 29, 2025, shot to the top of Weibo’s trending topics, setting the stage for what could be a blockbuster holiday season.

    The first installment, “Creation of the Gods I: Kingdom of Storms,” made waves at the 2023 box office, grossing 2.63 billion yuan (around 369 million U.S. dollars) and winning three Golden Rooster awards, including Best Feature Film.

    This second chapter raises the stakes with the city of Xiqi under siege and a climactic showdown over the “Fengshen Bang,” a mythical roster that bestows godhood upon worthy figures and serves as an artifact of immense power central to the film’s mythos.

    Wuershan’s commitment to the “Creation of the Gods” series spans over a decade, with script development beginning in June 2014. The director and his team have woven the Chinese myths into every detail, drawing from ancient texts, paintings, and artifacts to craft a unique cinematic aesthetic, according to a statement from the film’s producers.

    “I’ve dedicated a decade of my life to this project,” he said in a video interview. “With age, I may not have the physical capacity to take on such an intense production again, so I gave it my all.”

    The “Creation of the Gods II” production team touts the film’s extensive visual effects, calling it a project “born for the big screen.” Featuring epic visuals, the first film resonated with audiences globally, with French media hailing it as the “Chinese Lord of the Rings.”

    “Creation of the Gods” is frequently discussed alongside Guo Fan’s “The Wandering Earth” series, with critics noting both as showcasing the highest standards of industrial production in Chinese cinema.

    “Filming for the trilogy spanned 18 months, with nearly 10,000 crew members working together across numerous technical departments,” Wuershan explained. “It features large-scale battle scenes and high-level CGI (Computer-Generated Imagery), requiring an extraordinary level of coordination.”

    Also joining the Spring Festival lineup is “Boonie Bears: Future Reborn,” marking the 11th year of this family-favorite franchise’s release during the week-long Lunar New Year holiday.

    Consistently drawing a stable fan base and amassing 7.7 billion yuan in total earnings to date, “Boonie Bears” is seen by cinema managers as a steady performer for the Spring Festival season and a reliable animated franchise.

    The last release, “Boonie Bears: Time Twist,” saw its revenue hit a 2-billion-yuan milestone in 106 days. “‘Boonie Bears’ is the most successful IP in China,” noted Dong Wenxin, a cinema manager in east China’s Shandong Province.

    The latest installment, “Boonie Bears: Future Reborn,” will deliver a fresh twist, taking characters Vick (Bald Qiang), Briar and Bramble 100 years into the future, where they join a young companion from this new world on a sci-fi adventure. This movie marks the finale of the franchise’s five-part sci-fi arc.

    Meanwhile, “Operation Leviathan,” widely referred to as the sequel to the 2018 hit “Operation Red Sea,” is generating anticipation as a potential addition to the lineup.

    The new action movie, currently in post-production according to Bona Film Group chairman Yu Dong, could be a game-changer for the lucrative holiday moviegoing period. Its predecessor, “Operation Red Sea,” topped box office charts for not only the Spring Festival holiday but also the entire year of 2018.

    Fans are also watching closely to see if Chen Sicheng’s new “Detective Chinatown” film, Tsui Hark’s big-screen adaptation of Louis Cha’s “The Legend of the Condor Heroes” novel, or Enlight Pictures’ long-awaited sequel to the 2019 animated hit “Ne Zha” will join the lineup in the coming weeks. Even if only some of these high-profile titles make it to the 2025 Spring Festival slate, the season could easily become a “clash of the titans.”

    This year’s Spring Festival holiday set a record with an 8 billion yuan haul. However, both the summer and National Day periods saw weaker-than-expected results, with analysts attributing it partly to a shortage of major releases. Understandably, this has heightened hopes for a vibrant Spring Festival to kick off 2025 on a high note. 

    MIL OSI China News –

  • MIL-OSI China: Chinese opera group spices celebration of China-Zambia diplomatic ties of 60 years

    Source: China State Council Information Office 3

    One of China’s most well-known art troupes spiced up celebrations of the 60th anniversary of China-Zambia diplomatic relations with a thrilling performance.

    On Thursday night, the Zambia Chinese Association in collaboration with the Chinese Embassy in Zambia presented a cultural event as part of celebrations for the bilateral ties by showcasing Chinese dramas and musical compositions.

    Presented by east China’s Zhejiang Wu Opera Research Center, the Wu Opera dazzled the audience, comprised of Chinese nationals and Zambian locals, who kept ululating and clapping for an encore.

    They couldn’t help but take videos and photos of the intriguing performance.

    The event saw the group providing various performances which included “9-Pieced Segment Dragon,” Suona Solo “Picking Dates,” Wu Opera “the goddess of heaven scatters flowers.”

    Leonard Milomo, a resident of Lusaka, the capital of Zambia, was left mesmerized by the performance. Milomo said he was overwhelmed by the performance because it was something he had never seen.

    “I am overwhelmed by the performance of our visitors from China. I have never seen such, it’s a very overwhelming feeling to be part of this partnership between Zambia and China, and it’s something that we also learn from culture and tradition,” he said in an interview.

    Milomo said he would not hesitate to watch the performances anytime and that he was planning to visit during one of the holidays in order to have a feel of what China offers.

    Chinese Ambassador to Zambia Han Jing said the frequent cultural exchanges and people-to-people exchanges between the two countries have brought the people of the two countries closer. And the cultural exchanges between the two countries have been happening frequently with art groups paying exchange visits.

    Wu Opera, also known as Jinhua Opera, has a history of more than 500 years and is the second major regional operatic genre in Zhejiang Province. It first grew in popularity in Jinhua and its surrounding areas and was named after Wuzhou, the name of Jinhua in ancient China. 

    MIL OSI China News –

  • MIL-OSI China: Draft law revision aims to better protect personal privacy in anti-money laundering

    Source: China State Council Information Office

    An undated file photo shows a worker counting renminbi banknotes at a bank in Linyi, East China’s Shandong province. [Photo/Xinhua]

    China is considering stepping up the protection of personal privacy in anti-money laundering work, a spokesperson said Friday.

    A draft revision to the Anti-Money Laundering Law will be submitted for its third deliberation at a session of the country’s top legislature from next Monday to Friday, Huang Haihua, spokesperson for the Legislative Affairs Commission of the National People’s Congress Standing Committee, told a press conference.

    Huang said that the draft revision stipulates that institutions providing anti-money laundering services and their staff should properly handle the data and information obtained during their services in accordance with the law.

    The draft revision highlights that anti-money laundering work should ensure the smooth operation of regular financial services and capital flow, and safeguard the legitimate rights and interests of relevant institutions and individuals, according to Huang.

    MIL OSI China News –

  • MIL-OSI China: Xi, Slovak PM meet in Beijing, agreeing to elevate ties

    Source: China State Council Information Office

    Chinese President Xi Jinping meets with Slovak Prime Minister Robert Fico, who is on an official visit to China, at the Great Hall of the People in Beijing, capital of China, Nov. 1, 2024. (Xinhua/Rao Aimin)

    Chinese President Xi Jinping met with Slovak Prime Minister Robert Fico in Beijing on Friday.

    Noting that this year marks the 75th anniversary of the establishment of diplomatic relations between China and Slovakia, Xi said that after three-quarters of a century of development, the traditional friendship between the two countries is full of vitality, and the cooperation in various fields has yielded fruitful results, bringing tangible benefits to the people of both countries.

    “We have decided to elevate China-Slovakia relations to a strategic partnership, which meets the future development needs of both countries and will inject new and powerful momentum into bilateral cooperation,” Xi said, adding that China is willing to work together with Slovakia to open a new chapter in bilateral relations and lift their ties to a higher level.

    Xi said the two countries need to deepen political mutual trust, calling on both sides to maintain high-level exchanges, strengthen strategic communication, adhere to mutual respect, equality and mutual benefit, and accommodate each other’s core interests and major concerns.

    In order to expand pragmatic cooperation, Xi said the two countries should make good use of the newly established inter-governmental cooperation committee to strengthen synergy in new energy, transportation and logistics, infrastructure construction and water resources management. China encourages its enterprises to invest in Slovakia and welcomes Slovak enterprises to explore the market in China, he said.

    Xi said the two countries should promote cultural and people-to-people exchanges. He called on both sides to carry out communication and dialogue among political parties, local governments, youth, think tanks, and the media, and make good use of platforms such as the Confucius Institutes to consolidate the foundation of public opinion for China-Slovakia friendship across generations.

    China has decided to grant 15-day visa-free entry to Slovak citizens, Xi added.

    Xi noted that the two countries need to strengthen international cooperation. In a complex and rapidly changing world, Xi said, both sides should uphold true multilateralism, firmly safeguard the international system with the United Nations at its core and the international order based on international law, advocate for an equal and orderly multipolar world and universally beneficial and inclusive economic globalization, embrace a vision of global governance featuring extensive consultation, joint contribution and shared benefits, and promote the building of a community with a shared future for humanity.

    China attaches great importance to China-EU relations, Xi said, adding that next year marks the 50th anniversary of the establishment of diplomatic relations between China and the EU, and China-EU relations should demonstrate due maturity and stability.

    Xi expressed the hope that the new EU institutions will adhere to the orientation of the China-EU partnership, adopt a positive and pragmatic approach, properly manage differences, and refrain from politicizing economic and trade issues.

    Fico said Slovakia firmly adheres to the one-China policy and recognizes the government of the People’s Republic of China as the only legitimate government representing all of China. Slovakia opposes any interference in other countries’ internal affairs and advocates for respecting each country’s choice of development path.

    Slovakia appreciates China’s decision to grant Slovak citizens the 15-day visa-free treatment, Fico said. Slovakia supports facilitating people-to-people exchanges between the two countries, and welcomes more Chinese enterprises to invest in the country and strengthen cooperation in areas such as new energy and infrastructure, he added.

    Slovakia appreciates the three major global initiatives put forward by President Xi, and is willing to strengthen exchanges with China on state governance experience and actively promote the EU’s commitment to handling differences through dialogue and consultations, Fico said.

    The two sides also exchanged views on the Ukraine crisis. Xi expounded on China’s consistent principle and position, commending Slovakia for adopting an objective, rational and impartial stance. He welcomed Slovakia, as well as more like-minded countries, to play a positive role in promoting peace talks.

    Fico stated that China’s position on the Ukraine crisis is fair, objective and constructive. Slovakia is willing to join the group of Friends for Peace on the Ukraine crisis and work with China to contribute to the political settlement of the crisis.

    Following the meeting, the two sides issued a joint statement on the establishment of a strategic partnership. 

    MIL OSI China News –

  • MIL-OSI China: Global scholars convene in Beijing to discuss role of innovation in human progress

    Source: China State Council Information Office

    A forum in Beijing has gathered global scholars and experts to discuss how to drive human advancement through innovation, as the world faces both opportunities and challenges posed by rapid scientific and technological progress.

    “The rapid development of science and technology, along with emerging ideas and technologies, has not only transformed industrial and social structures but also posed new challenges to the international order and human civilization,” said Gong Qihuang, president of Peking University, while addressing the opening ceremony of the 2024 Beijing Forum on Friday.

    Humanity needs more international scientific and technological cooperation than ever to solve common development problems, Gong added.

    Building on the overarching theme of “The Harmony of Civilizations and Prosperity for All” from its inaugural edition in 2004, this year’s forum is themed “The Era of Innovation and Advancement of Mankind.”

    Gong said that the ongoing event aims to drive development through innovation and create a platform for joint efforts in exploring the path to modernization for human society and the prosperity of global civilization.

    Emphasizing the vital role of innovation in tackling global challenges, SK Group Chairman Chey Tae-won said that no single country or organization can address these issues alone in today’s era of innovation.

    Shahid Khaqan Abbasi, former prime minister of Pakistan, called for efforts to bridge the digital divide to ensure inclusive economic growth and prioritize human development so that innovation can be fully leveraged. “We must ensure that innovation serves humanity’s greater good.”

    According to Qian Chengdan, a well-known historian at Peking University, innovation is not only technological advancements or the development of new tools but also systemic innovations, new human ideas, and transformative changes in the overall fabric of human life.

    The participants at the forum acknowledged China’s position as a global leader in innovation.

    Gerard Mourou, the 2018 Nobel Prize winner in physics, noted that China has witnessed incredible advancements in scientific and technological development over the past decades.

    Mourou, who assumed the role of a chair professor at Peking University this October, said he is highly impressed by the abilities of Chinese students, noting that they excel not only in their coursework but also in innovation.

    Hani K. Findakly, chairman of the International Oversight Committee of the State of Qatar Chair in Middle Eastern Studies, Peking University, lauded China as a leading innovator. He noted that the country will play a crucial role in addressing climate change and other global challenges.

    According to an innovation index report released by the World Intellectual Property Organization this year, China has ranked first in the number of the global top 100 sci-tech city clusters for two consecutive years.

    Looking back at history, China has made significant contributions to human development and is poised to play an increasingly vital role in driving innovation in the future, Qian said.

    This year’s forum garnered significant attention by drawing more than 500 experts and scholars from over 30 countries and regions, highlighting its status as a prominent global hub for academic and people-to-people exchanges.

    Co-sponsored by Peking University, the Beijing Municipal Education Commission and the Chey Institute for Advanced Studies, the annual forum has attracted more than 7,000 distinguished guests and scholars from over 80 countries and regions since 2004. 

    MIL OSI China News –

  • MIL-OSI China: Spanish floods kill at least 205, PM pledges comprehensive support

    Source: China State Council Information Office

    Spain remains deeply shaken by the deadly flash floods that have left 205 people confirmed dead and wrecked havoc across the regions of Valencia, Castilla-La Mancha and Andalusia in the east and southeast parts of the country. As of Friday, many more are still unaccounted for.

    With the ground too dry to absorb the intense rainfall, which exceeded 400 liters per square meter in many areas and reached up to 600 liters in some, the torrential overnight downpours on Tuesday led to devastating flash floods.

    Videos posted on social media have shown torrents up to three meters high sweeping cars down the streets to pile them up as if they were toys. Bridges were swept away, railway tunnels collapsed and fields were swamped as people climbed onto roofs of their homes and cars to seek refuge, but not all survived.

    The official death toll, initially 12 on Wednesday morning according to the Center for Coordinated and Integrated Operations, has now soared to 205, with 202 fatalities in the region of Valencia, two in Castilla-La Mancha and one in Andalusia.

    The Feria de Valencia exhibition center has had to be used as a temporary mortuary. With many people still missing, the number of fatalities is expected to climb further.

    The Spanish newspaper Eldiario.es reported on Friday that 1,900 people are still missing. Witnesses in the affected areas said many people had gone into underground garages to save their cars, only to be trapped by the extreme deluge. The media outlets are filled with heart wrenching stories, with loved ones making final calls from vehicles trapped in rising waters.

    Moreover, over 130,000 homes lost power during the floods, and by Friday, power company Iberdrola confirmed that 23,000 homes still remained without electricity.

    The floods left the Valencia region in eastern Spain almost isolated, with the high-speed rail link between the capital city of Madrid and Valencia closed for up to three weeks following the collapse of two tunnels.

    Around 80 km of local rail lines and 100 roads were damaged, prompting the government to allocate 25 million euros (27 million U.S. dollars) on Friday for emergency repairs.

    Spanish Prime Minister Pedro Sanchez visited the affected areas on Thursday and pledged comprehensive aid for recovery efforts. The government declared three days of official mourning as sporting events in the Valencia region were all postponed.

    Meanwhile, nearly 2,000 military personnel, supported by 400 vehicles and 15 helicopters, have been deployed to assist in rescue and recovery operations. Hundreds of mud-caked Valencia volunteers were seen helping clear streets and homes with shovels and brooms.

    However, police also reported that approximately 60 people have been detained for looting in the wake of the floods.

    Relief support has poured in from across Spain, with funds being set up by the Red Cross and other agencies to aid rescue and recovery. Additionally, the international community, including the European Union, has offered assistance.

    Three days after the deadliest floods in decades, Valencia remains under alert for further downpours, with high warnings issued for Huelva, Castellon, Mallorca, and Catalonia. 

    MIL OSI China News –

  • MIL-OSI China: Test-fire of latest ICBM ‘legitimate exercise of sovereign right to self-defence’: DPRK Foreign Ministry

    Source: China State Council Information Office

    The Foreign Ministry of the Democratic People’s Republic of Korea (DPRK) said the test-fire of the country’s latest intercontinental ballistic missile (ICBM) was “a legitimate and just exercise of its sovereign right to self-defence” and part of the counteraction in response to the provocative moves by hostile forces, the official Korean Central News Agency (KCNA) reported on Saturday.

    In a statement issued on Friday, as reported by the KCNA, a DPRK Foreign Ministry spokesman accused the United States and its followers of intending to convene a meeting of the UN Security Council with an aim to “seriously encroach upon the DPRK’s right to self-defence,” in addition to staging joint air drills of aggressive nature on the Korean peninsula and in its vicinity while viciously slandering the reasonable exercise of sovereignty by the DPRK.

    The Foreign Ministry expresses serious concern over the hostile forces’ confrontational behavior to create a critical situation against the DPRK security environment, and strongly denounces and rejects this act as “a wanton violation of the UN Charter and other recognized international laws” and “a grave challenge to international peace and security,” the statement said.

    “It is the steadfast strategic option and will of the DPRK to thoroughly deter the danger of outbreak of a nuclear war and powerfully control and manage the political and military situation in the region by countering the ever-dangerous military threat of the U.S. and its vassal forces with the overwhelmed and absolute power,” said the statement.

    The DPRK on Thursday conducted a “crucial” test of its latest ICBM Hwasongpho-19. 

    MIL OSI China News –

  • MIL-OSI China: 52 killed, 72 injured in Israeli airstrikes on E. Lebanon

    Source: China State Council Information Office

    Fifty-two people were killed and 72 others injured on Friday in Israeli airstrikes on the city of Baalbek and surrounding towns and villages in eastern Lebanon, said the Lebanese Health Ministry.

    Israeli forces have intensified their attacks on eastern Lebanon over the past days after issuing warnings to citizens, calling for the evacuation of entire cities, villages, and towns in the area.

    Most of the casualties occurred in localities including Baalbek, Al-Alaq, Younine, Badnayel, Al-Bazaliyah, Amhaz, Iaat, Labweh, Harbata, Nahle, Taraya, and Hawsh An Nabi.

    The Israeli army has been waging intensive attacks on Lebanon in an escalation with Hezbollah since late September. In Early October, Israel initiated a ground operation across its northern border into Lebanon. 

    MIL OSI China News –

  • MIL-OSI China: 6th Friends of Paris Agreement High-level Dialogue held in Paris

    Source: China State Council Information Office 3

    Participants pose for a group photo during the sixth Friends of the Paris Agreement High-Level Dialogue in Paris, France, on Oct. 28, 2024. The sixth Friends of the Paris Agreement High-Level Dialogue was held in Paris on Oct. 28-29. Organized by the European Climate Foundation and co-organized by the Institute of Climate Change and Sustainable Development of Tsinghua University, the dialogue has drawn over 20 high-level officials from signatory countries. (the European Climate Foundation/Handout via Xinhua)

    The sixth Friends of the Paris Agreement High-Level Dialogue was held in Paris on Oct. 28-29, where global leaders and stakeholders gathered to review both the significant progress and ongoing challenges faced by the international community in addressing climate-related crises since the Paris Agreement’s enactment.

    The dialogue was co-chaired by Xie Zhenhua, former China’s special envoy for climate change, and Laurence Tubiana, former France’s climate change ambassador and special representative for COP21.

    Organized by the European Climate Foundation and co-organized by the Institute of Climate Change and Sustainable Development of Tsinghua University, the dialogue has drawn over 20 high-level officials from signatory countries.

    Among the attendees are Laurent Fabius, president of the French Constitutional Council and former French prime minister, John Kerry, former U.S. Secretary of State, Teresa Ribera, European Commission’s first executive vice-president, Luiz Alberto Figueiredo Machado, former Brazilian minister of External Relations, Catherine McKenna, former Canadian minister of environment and climate change, Selwin Hart, special adviser to the UN Secretary-General and Assistant Secretary-General of the Climate Action Team, and Liu Zhenmin, China’s special envoy for climate change.

    As next year marks the 10th anniversary of the Paris Agreement, participants reached a consensus on the need for all countries to embody the spirit of the United Nations Climate Change Conference (COP21) amid the current complex global challenges.

    They also emphasized a strong commitment to defending and upholding multilateralism, advancing the global process for climate action, and adhering to the principle of common but differentiated responsibilities.

    The attendees also agreed that countries must continue advancing climate actions under the framework of the Paris Agreement, adopt faster and larger-scale international cooperation to ensure the timely achievement of global climate goals, and accelerate the global transition toward green, low-carbon, and climate-resilient development.

    The participants also held in-depth discussions on various climate-related issues, such as the Nationally Determined Contributions (NDCs), climate finance, energy transition, and technological innovation.

    They all agreed to further strengthen the role of the “Friends of the Paris Agreement,” supporting and advancing the success of this year’s UN Climate Change Conference in Baku (COP29) and laying the foundation for next year’s UN Climate Change Conference in Belem (COP30) in line with the goals and principles established by the UN Framework Convention on Climate Change and the Paris Agreement.

    The Friends of the Paris Agreement High-level Dialogue was initiated in 2019. It is hosted annually on a rotating basis by the European Climate Foundation and the Institute of Climate Change and Sustainable Development of Tsinghua University.

    The dialogue, gathering high-level representatives who have played key roles in the formulation and implementation of the Paris Agreement, serves as a platform for them to provide recommendations to the United Nations, the host countries of the Climate Conference and the secretariat of the UN Framework Convention on Climate Change, to promote the multilateral process. 

    MIL OSI China News –

  • MIL-OSI Asia-Pac: HKETO San Francisco celebrates long-term collaborations with film festivals in Hawai’i, New Mexico and California (with photos)

    Source: Hong Kong Government special administrative region

    HKETO San Francisco celebrates long-term collaborations with film festivals in Hawai’i, New Mexico and California (with photos)
    HKETO San Francisco celebrates long-term collaborations with film festivals in Hawai’i, New Mexico and California (with photos)
    ******************************************************************************************

         Through October, the Hong Kong Economic and Trade Office in San Francisco (HKETO San Francisco) celebrated another year of successful collaborations with the Hawai’i International Film Festival (HIFF) in Hawai’i, the Santa Fe International Film Festival (SFiFF) in New Mexico and the Los Angeles Asian Pacific Film Festival (LAAPFF) in California to foster cultural exchanges between Hong Kong and these locations in the United States.           In Honolulu, Hawai’i, SFETO and its long-time collaborator HIFF once again curated the Spotlight on Hong Kong programme, which featured six Hong Kong productions that included new releases and a restored classic: “Love Lies”, “The Last Dance”, “Stuntman”, “All Shall Be Well”, “Fly Me to The Moon” and “Shanghai Blues”. The festival was held from October 3 to 13 (Honolulu time).           Speaking at the VIP reception hosted by HKETO San Francisco on October 11 (Honolulu time), the Director of HKETO San Francisco, Ms Jacko Tsang, said the return of “Making Waves – Navigators of Hong Kong Cinema”, presented by the Hong Kong International Film Society, made the Hong Kong programme at the 44th edition of the festival even more remarkable this year. She pointed out that the First Feature Film Initiative supported by the Hong Kong Film Development Council had funded 24 films with over $120 million since 2013, and that SFETO was excited to showcase these excellent works by new talent in the Hong Kong film industry.                At the Awards Gala of the HIFF on October 12 (Honolulu time), iconic Hong Kong actress and filmmaker Sandra Ng was honoured with the HIFF Spotlight On Hong Kong Filmmaker in Profile. She attended the festival with renowned filmmaker Peter Chan and received the award from celebrity comedian Ronny Chieng. Alongside Ng, Hong Kong actresses Patra Au and Michelle Wai, as well as directors Sasha Chuk, Anselm Chan, Albert Leung and Hebert Leung also participated in the festival. They attended live post-screening Q&A sessions at the primary screening of their respective films. The audience greatly appreciated their presence with enthusiastic interactions.           In Santa Fe, New Mexico, HKETO San Francisco collaborated with SFiFF for the second consecutive year. “Twilight of the Warriors: Walled In” and “All Shall Be Well”, two talk-of-the-town feature films from Hong Kong, were showcased at the festival held from October 16 to 20 (Santa Fe time).           Hosting the filmmakers’ brunch on October 19 (Santa Fe time), Ms Tsang introduced some of the latest measures implemented by the Hong Kong Government to inject new power into Hong Kong cinema, including the Hong Kong-Europe-Asian Film Collaboration Funding Scheme, which aims to subsidise film projects coproduced by filmmakers from European and Asian countries to produce films featuring Hong Kong, European and Asian cultures. She encouraged filmmakers to explore opportunities in Hong Kong and be a part of the revival journey of Hong Kong cinema.           In Los Angeles, California, the third annual “LAAPFF Presents: Hong Kong Generations of Cinema” took place on October 26 and 27 (Los Angeles time) featuring six Hong Kong titles from different decades around the theme of Cantopop: “Rouge”, “Days of Being Wild”, “Happy Together”, “July Rhapsody”, “Anita” and “The Lyricist Wannabe”. Each film highlights the connection between music and storytelling in Hong Kong’s film history.           Delivering her remarks after a special reception on October 26 (Los Angeles time), Ms Tsang said that the office was honoured to work with Visual Communications, the organisation behind the LAAPFF, to bring the programme to Los Angeles three years in a row. She expressed delight that the programme had expanded from a one-day showcase to a two-day celebration of Hong Kong cinema following the success of the first two years.           The above Hong Kong film programmes were made possible with the support from the Film Development Fund, the Cultural and Creative Industries Development Agency, and the Culture, Sports and Tourism Bureau of the Hong Kong Special Administrative Region Government.

     
    Ends/Saturday, November 2, 2024Issued at HKT 10:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: President Joseph R. Biden, Jr. Approves Disaster Declaration for the Cheyenne River Sioux Tribe

    Source: US Federal Emergency Management Agency

    Headline: President Joseph R. Biden, Jr. Approves Disaster Declaration for the Cheyenne River Sioux Tribe

    President Joseph R. Biden, Jr. Approves Disaster Declaration for the Cheyenne River Sioux Tribe

    WASHINGTON – FEMA announced today that federal disaster assistance is available to the Cheyenne River Sioux Tribe to supplement the Tribal Nation’s efforts in the areas affected by a severe storm, straight-line winds and flooding from July 13-14, 2024.The President’s action makes federal funding available to affected individuals in the Cheyenne River Sioux Tribe. Assistance can include grants for temporary housing and home repairs, low-cost loans to cover uninsured property losses and other programs to help individuals and business owners recover from the effects of the disaster.Federal funding is also available to the Cheyenne River Sioux Tribe and certain private nonprofit organizations on a cost-sharing basis for emergency work and the repair or replacement of facilities damaged by the severe storm, straight-line winds and flooding.Federal funding is also available on a cost-sharing basis for hazard mitigation measures for the Cheyenne River Sioux Tribe.Edwin J. Martin has been named the Federal Coordinating Officer for federal recovery operations in the affected areas. Additional designations may be made at a later date if requested by the Tribal Nation and warranted by the results of further damage assessments. Individuals and business owners who sustained losses in the designated areas can begin applying for assistance at www.DisasterAssistance.gov, by calling 800-621-3362 or by using the FEMA App. If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA the number for that service.  
    amy.ashbridge
    Sat, 11/02/2024 – 02:02

    MIL OSI USA News –

  • MIL-OSI China: Flights between Xi’an and Paris resume

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

    Flights between China’s Xi’an and Paris, France, resumed on Wednesday, strengthening travel links between China and Europe. The new schedule for the Xi’an-Paris route includes flights every Wednesday, with a one-way flight time of approximately 11 and a half hours. The Xi’an-Paris route is served by a Boeing 787-9 wide-body aircraft with a seating capacity of 290.

    The route is the fifth direct flight from Xi’an to Europe and the second direct intercontinental flight from northwest China to France.

    MIL OSI China News –