NewzIntel.com

Category: KB

  • MIL-OSI USA: Removing Barriers to American Leadership in Artificial Intelligence

    US Senate News:

    Source: The White House
    By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows:
    Section 1. Purpose. The United States has long been at the forefront of artificial intelligence (AI) innovation, driven by the strength of our free markets, world-class research institutions, and entrepreneurial spirit. To maintain this leadership, we must develop AI systems that are free from ideological bias or engineered social agendas. With the right Government policies, we can solidify our position as the global leader in AI and secure a brighter future for all Americans.This order revokes certain existing AI policies and directives that act as barriers to American AI innovation, clearing a path for the United States to act decisively to retain global leadership in artificial intelligence.
    Sec. 2. Policy. It is the policy of the United States to sustain and enhance America’s global AI dominance in order to promote human flourishing, economic competitiveness, and national security.
    Sec. 3. Definition. For the purposes of this order, “artificial intelligence” or “AI” has the meaning set forth in 15 U.S.C. 9401(3).
    Sec. 4. Developing an Artificial Intelligence Action Plan. (a) Within 180 days of this order, the Assistant to the President for Science and Technology (APST), the Special Advisor for AI and Crypto, and the Assistant to the President for National Security Affairs (APNSA), in coordination with the Assistant to the President for Economic Policy, the Assistant to the President for Domestic Policy, the Director of the Office of Management and Budget (OMB Director), and the heads of such executive departments and agencies (agencies) as the APST and APNSA deem relevant, shall develop and submit to the President an action plan to achieve the policy set forth in section 2 of this order.
    Sec. 5. Implementation of Order Revocation. (a) The APST, the Special Advisor for AI and Crypto, and the APNSA shall immediately review, in coordination with the heads of all agencies as they deem relevant, all policies, directives, regulations, orders, and other actions taken pursuant to the revoked Executive Order 14110 of October 30, 2023 (Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence). The APST, the Special Advisor for AI and Crypto, and the APNSA shall, in coordination with the heads of relevant agencies, identify any actions taken pursuant to Executive Order 14110 that are or may be inconsistent with, or present obstacles to, the policy set forth in section 2 of this order. For any such agency actions identified, the heads of agencies shall, as appropriate and consistent with applicable law, suspend, revise, or rescind such actions, or propose suspending, revising, or rescinding such actions. If in any case such suspension, revision, or rescission cannot be finalized immediately, the APST and the heads of agencies shall promptly take steps to provide all available exemptions authorized by any such orders, rules, regulations, guidelines, or policies, as appropriate and consistent with applicable law, until such action can be finalized.(b) Within 60 days of this order, the OMB Director, in coordination with the APST, shall revise OMB Memoranda M-24-10 and M-24-18 as necessary to make them consistent with the policy set forth in section 2 of this order.
    Sec. 6. General Provisions. (a) Nothing in this order shall be construed to impair or otherwise affect:(i) the authority granted by law to an executive department or agency, or the head thereof; or(ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.(b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations.(c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
    THE WHITE HOUSE,January 23, 2025.

    MIL OSI USA News –

  • MIL-OSI Russia: Vitaly Savelyev: Pumping out fuel oil from the tanker Volgoneft-239 is completely completed

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Specialists from the Marine Rescue Service of the Ministry of Transport of Russia completed the pumping out of fuel oil from the main and ballast tanks of the aft section of the Volgoneft-239 tanker, which sank near Cape Panagia on December 15, 2024, ahead of schedule. The cleaning of the tanks for dismantling and subsequent disposal has begun. This was reported by the chairman of the government commission for the elimination of the consequences of the tanker wreck, Deputy Prime Minister Vitaly Savelyev.

     

    Between January 19 and 25, 1,488 tons of fuel oil were pumped from the tanker into bitumen carriers, after which it was transferred to 20 railway tank cars.

     

    To be able to pump out the fuel oil, specialists restored the ship’s standard equipment, including the pumping and cargo heating system. In order for the fuel oil to become fluid, its temperature had to reach 45 degrees.

     

    A temporary road was built to allow equipment to reach the tanker, and a protective embankment was created around the hull. This embankment served as an artificial hydraulic structure, protecting the vessel from the storm and preventing fuel oil from spilling into the sea.

     

    A special platform reinforced with concrete slabs was built on the embankment close to the tanker. It provided passage for loaded bitumen carriers transporting fuel oil from the ship.

     

    Eight machines were involved in the round-the-clock pumping operations. During the entire period of the work, 87 bitumen trucks were removed from the tanker. The remaining fuel oil that could not be unloaded by ship equipment was pumped out using hand pumps.

     

    To ensure the environmental safety of the area, even before the work began, the Marine Rescue Service concentrated a group of emergency rescue fleet in the amount of up to 10 vessels. The fleet’s tasks included setting up boom barriers in the work area, which ensured the localization of oil products and the prevention of further pollution of the sea.

     

    Currently, a project for the disposal of the stern of the vessel as sunken property is being prepared. According to the order of the captain of the seaport of Taman, the development of the project should have been completed by January 30. Before the start of work on cutting the vessel, a number of special events will be held. Also, the order of the captain of the seaport of Taman states that by March 31, all work on cutting the vessel and its removal should be completely completed.

     

    Vitaly Savelyev thanked all the participants of this complex technological operation: sailors, divers, road workers, railway workers, volunteers, the OTEKO company, and employees of regional and federal authorities.

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Dmitry Chernyshenko: Siberia, the South and the Caucasus Lead in Growth of Tourist Trips Over Nine Months

    Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Tourists made 5.5 million trips in nine months across Siberian regions from January to September 2024. This is 15.3% more than in the same period last year. The federal district took first place in terms of the number of tourists received. The Republic of Tyva, Tomsk and Omsk regions demonstrated the highest results.

    The second place in the ranking of federal districts was taken by the traditionally touristy south of Russia. Here, the increase in the number of trips was 14.8%. In total, the southern regions received 12.3 million tourists.

    The North Caucasus rounds out the top three, demonstrating significant growth rates in this area in recent years. The indicator increased by 14.8% and reached 2.3 million trips.

    “Over the past nine months, Rosstat recorded 65.5 million tourist trips across Russia, which is 11.1% more than in the same period in 2023. The growing interest in our country from foreign tourists is encouraging: more than 3 million people have become guests of Russian hotels, which is 42% more than last year. This success confirms that Russia is becoming increasingly popular with travelers from all over the world,” said Deputy Prime Minister Dmitry Chernyshenko.

    The Deputy Prime Minister emphasized that President Vladimir Putin had instructed to make the visa regime more flexible and accessible for tourists from other countries. Thus, visa-free group trips are available for citizens of Iran and China, and representatives of 52 countries can obtain electronic visas.

    The regions of the Far East have become leaders in the growth of interest from foreign tourists. The most significant results are shown by the Republic of Sakha (Yakutia), Amur Region and Khabarovsk Krai.

    The top three leaders in terms of growth in tourist trips from abroad also include the Northwest and Siberia, with an increase of 69 and 63.8%, respectively. Here, significant results are demonstrated by the Republic of Karelia, Murmansk Region, St. Petersburg, as well as Irkutsk, Tomsk Region and the Republic of Tyva.

    “This year we are seeing rapid growth and the establishment of new tourist centers. First of all, we are talking about Siberia and the Far East. They are actively being developed by both Russian and foreign travelers. I believe that these are the most promising geographic areas for investors. For our part, we are ready to support these growth points with government support measures within the framework of the national project “Tourism and Hospitality Industry”, – said Minister of Economic Development Maxim Reshetnikov.

    The Minister added that this year the Discover Russia brand was also developed, which already today helps promote Russian tourism products in foreign markets through the cultural component, creative and gastronomic industries.

     

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

    MIL OSI Russia News –

  • MIL-OSI Economics: Result of the 14-day Variable Rate Reverse Repo (VRRR) auction held on October 31, 2024

    Source: Reserve Bank of India

    Tenor 14-day
    Notified Amount (in ₹ crore) 1,75,000
    Total amount of offers received (in ₹ crore) 24,697
    Amount accepted (in ₹ crore) 24,697
    Cut off Rate (%) 6.49
    Weighted Average Rate (%) 6.49
    Partial Acceptance Percentage of offers received at cut off rate NA

    Ajit Prasad           
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1406

    MIL OSI Economics –

  • MIL-OSI Europe: Strong growth for SMEs in 2022

    Source: Switzerland – Department of Home Affairs

    Small and medium-sized enterprises (SMEs) are the beating heart of the Swiss economy. In 2022, they employed almost 3.2 million people. 60 000 jobs were created between 2021 and 2022. Over the whole 2011-2022 period, the proportion of enterprises with fewer than 10 jobs increased at the expense of those with 10 to 49 jobs. Jobs in tourism-related activities have experienced mixed growth since 2019. SMEs involved in the export and import of goods performed even better when large in size and part of a group. These are some of the findings from the publication ‘Portrait of Swiss SMEs’ by the Federal Statistical Office (FSO).

    MIL OSI Europe News –

  • MIL-OSI Europe: The 2024 Statistical Yearbook reveals and explains the trends that move Switzerland

    Source: Switzerland – Department of Home Affairs

    The Statistical Yearbook of Switzerland, the longest-running publication of the Federal Statistical Office (FSO), is now in its 130th edition. This year’s 400-page yearbook features engaging insights into the most important statistics on Swiss society and its people and includes over 130 QR codes for easy access to a wealth of additional statistics and datasets online. The special focus of this edition is health.

    MIL OSI Europe News –

  • MIL-OSI Russia: Happy birthday to Grigory Gurov!

    Translation. Region: Russian Federation –

    Source: State University of Management – Official website of the State –

    On October 31, the State University of Management and the most active youth of Russia congratulate the head of the Federal Agency for Youth Affairs (Rosmolodezh), associate professor of the Department of Public and Municipal Management of the State University of Management Grigory Gurov on his birthday!

    Grigory Aleksandrovich began working in the field of youth policy when he was still a student at the North Caucasus Humanitarian and Technical Institute. And since graduating in 2006, he has not changed his chosen career direction, working and devoting himself to various specialized organizations in his native Stavropol Krai. In 2017, he moved to Moscow and held leadership positions in Rosmolodezh for four years. Later, for about a year and a half, he was Deputy Minister of Science and Higher Education of the Russian Federation. In December 2022, he headed the Russian Movement of Children and Youth “Movement of the First”, and in September of this year he became the head of Rosmolodezh.

    We wish the birthday boy further career success, even more implemented projects of all-Russian scale and state awards for his work. Knowing the simplicity and humanity of Grigory Gurov, there is a feeling that his main priorities are that all the youth of the country are happy, have maximum opportunities for self-realization and grow up as law-abiding citizens. At the same time, he himself will only need comfortable jeans and sneakers to attend many events aimed at his wards. This is why we especially love, respect and appreciate him!

    Subscribe to the TG channel “Our GUU” Date of publication: 10/31/2024

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

    MIL OSI Russia News –

  • MIL-OSI China: DPRK test-fires ballistic missile

    Source: China State Council Information Office

    The Democratic People’s Republic of Korea (DPRK) test-fired an intercontinental ballistic missile Thursday morning, with the country’s top leader overseeing the event and stressing the DPRK will not change its policy of developing nuclear forces, the Korean Central News Agency reported.

    Kim Jong Un, general secretary of the Workers’ Party of Korea and president of the State Affairs of the DPRK, said at the scene that the test-fire was an appropriate military action “to inform the rivals … of our counteraction will,” the news agency reported.

    Kim said “the rivals’ dangerous tightening of their nuclear alliance” and military maneuvers highlight the need to strengthen nuclear forces. “We should never allow any threat to approach the security sphere under our state’s influence,” Kim said.

    “The DPRK will never change its line of bolstering up its nuclear forces,” the DPRK leader added.

    A spokesperson for the Ministry of National Defense confirmed the test.

    The country’s news agency described the test as a demonstration of North Korea’s strategic missile capability, noting it “updated recent records” and underscored the reliability of what it called “the world’s most powerful strategic deterrent.”

    MIL OSI China News –

  • MIL-OSI China: China’s incremental policies boost foreign investor confidence

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

    BEIJING, Oct. 31 — Foreign investors are becoming increasingly bullish on the Chinese market, bolstered by the country’s recent incremental policies aimed at vitalizing growth momentum.

    UBS Investment Bank has raised its China 2024 growth forecast to 4.8 percent from 4.6 percent, while Goldman Sachs has lifted China’s GDP prediction this year from 4.7 percent to 4.9 percent.

    The uplift is mostly due to China’s third-quarter year-on-year GDP growth of 4.6 percent, slightly above market expectation of 4.4 percent, and the series of support policies the government recently launched, said UBS economist Wang Tao.

    Economists with Goldman Sachs noted that the latest round of China’s incremental policies clearly indicates that policymakers have made a turn on cyclical policy management and increased their focus on the economy.

    So far this year, multiple international institutions, including the World Bank and the International Monetary Fund, have raised their forecast for China’s economic growth for 2024.

    In the face of mounting challenges at home and abroad, China’s GDP grew 4.8 percent year on year in the first three quarters of this year. The country set a target of economic growth at around 5 percent for this year.

    To beef up the economy in response to looming challenges, Chinese authorities have unveiled a broader-than-expected policy package since late September, which focused on enhancing counter-cyclical adjustments, expanding effective domestic demand, supporting business operations, promoting the recovery of the property market, and invigorating capital markets.

    Aside from these pro-growth policies, Chinese policymakers continued to improve investment facilitation, create a favorable investment environment, promote high-level financial opening up to the outside world, and actively support foreign investors in participating in the Chinese capital market.

    Alan Ho, co-senior country officer for China at J.P. Morgan, said that the pace of China’s financial market opening up had accelerated in recent years.

    For example, foreign ownership restrictions in local securities, funds and futures companies have been lifted and financial markets’ connectivity mechanisms have been maturing more quickly than expected, which has brought broader development opportunities to foreign financial institutions, Ho said.

    Data from the State Administration of Foreign Exchange showed that foreign holdings of domestic renminbi bonds have so far exceeded 640 billion U.S. dollars, reaching a historic high.

    Net foreign investment in domestic bonds surpassed 80 billion U.S. dollars in the first three quarters of this year, while foreign investment in Chinese equities saw notable improvement.

    Foreign central banks and commercial banks are the biggest investors in domestic renminbi bonds, as they allocate a higher proportion of investment in medium and long-term bonds such as treasury bonds and policy bank bonds, according to the foreign exchange regulator.

    The growing foreign holdings have reflected the global investors’ confidence in the Chinese market. Currently, 24 global systemically important banks have a presence in China.

    Industry insiders believed that foreign investors’ active buy-in of Chinese assets has shown their optimism in China’s continuous opening-up measures and policy support in the capital market.

    During the World Bank’s 110th meeting of the Development Committee last week in Washington DC, Vice Minister of Finance Liao Min pledged that China will intensify countercyclical adjustments of fiscal policy.

    A series of strong measures will be implemented to resolve local government debt risks, stabilize the real estate market, increase the income of key groups, enhance people’s livelihoods, and drive equipment upgrades and trade-in deals for consumer goods, Liao said.

    By leveraging government spending to stimulate social investment and consumption, effective demand will be increased, he said, noting that China is confident in achieving the annual economic growth target, and will continue to inject impetus into world economic growth.

    MIL OSI China News –

  • MIL-OSI China: Xi calls for pooling wisdom, strength to advance reform in steady and sustained manner

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

    Xi calls for pooling wisdom, strength to advance reform in steady and sustained manner

    BEIJING, Oct. 31 — On the morning of Oct. 29, a study session for senior provincial and ministerial-level officials to study and implement the guiding principles of the Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) was inaugurated at the Party School of the CPC Central Committee (National Academy of Governance). Xi Jinping, general secretary of the CPC Central Committee, Chinese president, and chairman of the Central Military Commission, delivered an important speech at the opening ceremony. He emphasized the need to further study and implement the guiding principles of the third plenum, calling for guiding the entire Party and the nation to have more confidence in reform, and pool collective wisdom and strength to advance reform in a steady and sustained manner.

    Li Qiang presided over the opening ceremony. Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang, and Li Xi attended the event. They are all members of the Standing Committee of the Political Bureau of the CPC Central Committee. Han Zheng, Chinese vice president, also attended the event.

    Xi noted that the Third Plenary Session of the 18th CPC Central Committee heralded a new journey to comprehensively deepen reform and to advance reform through systematic and comprehensive design in the new era. This session has broken new ground for reform and opening up, and is of epoch-making significance. Comprehensively deepening reform in the new era has yielded significant outcomes in practice, system, and theory, representing one of the most remarkable chapters in China’s history of reform and opening up. It has provided strong momentum and institutional support for building China into a moderately prosperous society in all respects, and for carrying on the “two great miracles” (sustained rapid economic growth and lasting social stability). It has also laid a solid foundation and offered valuable experience for further comprehensively deepening reform on the new journey.

    Xi emphasized that maintaining the right political orientation and breaking new ground is a major principle that must be firmly upheld in further comprehensively deepening reform. China’s reform has direction and principles to follow. We must uphold the Party’s overall leadership, Marxism, socialism with Chinese characteristics, and the people’s democratic dictatorship, with promoting social fairness and justice as well as enhancing people’s well-being as our starting point and ultimate goal. These principles are fundamental, directional, and long-term, reflecting the nature and mission of the Party, conforming to China’s realities, and tallying with the fundamental interests of the people. They must be firmly upheld on any occasion and at any time. We should continue to improve and develop the socialist system with Chinese characteristics, work hard to realize the reform’s overall goal of modernizing the national governance system and governing capabilities, and consistently march forward in the direction guided by this overall goal, decisively reforming what should be reformed and never reforming what should not be reformed. In response to the new trends of the times, the new requirements for development, and the new expectations of the people, efforts should be made to advance reform in all aspects in a comprehensive and coordinated manner with an emphasis on economic structural reform, Xi said, urging vigorous work to promote innovations in theories, practice, institutions, culture, and other areas, so as to provide strong impetus and institutional support for Chinese modernization.

    Noting that reform is a systematic undertaking, Xi said relevant work should be done through proper means and by carefully balancing concerns in various aspects. He underlined the need to adhere to the coordination between reform and the rule of law, advance the rule of law with reform measures, further deepen reform in the realm of law-based governance, and continuously better the system of socialist rule of law with Chinese characteristics. The role of the rule of law should be given better play in removing the obstacles in reform and consolidating the achievements of reform, and it is important to think in terms of the rule of law and adopt a law-based approach in advancing reform to ensure that major reforms are carried out in accordance with the law and the legitimate rights and interests of all citizens and legal entities are under equal protection, Xi said. He added that it is necessary to adhere to the dialectical unity of breaking the old and establishing the new, focusing on both parts with efforts for the latter coming first. What needs to be established should be put in place proactively; what is no longer needed should be repudiated in due course after what is needed is established; and reform should be promoted in a steady and rapid manner in the balanced development of both, Xi said. It is a must to maintain a unified approach to reform and opening up, steadily expand institutional opening up, actively align with international high-standard economic and trade rules, and deepen the reform of the management systems for foreign trade, foreign investment, and outbound investment, so as to create a first-class business environment that is market-oriented, law-based, and internationalized. It is essential to effectively manage the relationship between how work plans are made and how the arrangements are implemented. The design of reform plans must be made on the basis of how things should be done reasonably, and various measures for reform must be compatible with and support each other, so as to keep the orientation of the reform consistent. It is imperative to establish a working mechanism, under which responsibilities are clearly defined, and work in various aspects is well connected. Follow-up evaluation of work results must be strengthened to make sure that reform measures are implemented thoroughly and effectively.

    Xi emphasized that officials, particularly senior officials, bear the crucial responsibility of advancing reform. They must cultivate a strong sense of political responsibility and historical mission, confront problems and challenges head-on with political courage to tackle difficulties, decisively address entrenched issues, face up to risks without hesitation, and strive to break new ground for reform and development. The right approach should be adopted to promote reform, arrangements must be made systematically, and actions should never be taken before decisions are made.

    Xi noted that extensively building consensus and fully mobilizing all positive factors are quite important for smooth reform. It is imperative to do a good job in guiding public opinion, intensify efforts to conduct positive public communication, champion the overarching theme, and project positive energy. It is essential to conduct further research and interpretation on the major theoretical propositions put forward in the resolution adopted at the Third Plenary Session of the 20th CPC Central Committee, with a focus on strengthening public communication and interpretation of the propositions to the people. It is imperative to timely address confusions, respond to the concerns of society, and extensively build consensus, so as to consolidate the intellectual foundation and public support for the whole Party and entire society to jointly promote reform. Officials and the general public should be guided to think with a broad perspective and have a correct understanding of the adjustment of interests and personal gains and losses in the reform.

    Xi finally stressed that all regions and departments must conscientiously implement a slew of major measures decided by the Political Bureau of the CPC Central Committee, implement the existing and new policies to the letter, and employ a combination of policies to ensure that good results are delivered from the work in the next two months, and the economic and social development goals and tasks set for this year are fulfilled.

    Li Qiang, when presiding over the ceremony, said General Secretary Xi’s important speech is visionary, thought-provoking, incisive, and substantive. He said that the speech is of political, theoretical, targeted and guiding significance, and is of great importance for the Party, especially for senior officials, to comprehensively and faithfully understand the spirit of the Third Plenary Session of the 20th CPC Central Committee, and to grasp the guiding principles, overall targets, key rules and scientific methodology of the ongoing drive to further deepen reform. Studying the speech is also important for them to boost confidence in reform, follow the right direction, have a stronger sense of responsibility for reform, leverage synergies, and push for the desired delivery of reform measures.

    It is imperative to study Xi’s speech with a sense of mission and responsibility, and a focus on solving problems to have a thorough understanding of the connotations, essence and practical requirements of the speech. It is imperative to profoundly understand the decisive significance of “Two Affirmations”, resolutely act on “Two Upholds”, effectively align our thoughts and actions with the spirit of Xi’s speech and the decisions and arrangements of the CPC Central Committee, and creatively implement the reform tasks, Li said.

    Those who attended the ceremony included members of the Political Bureau of the CPC Central Committee, members of the Secretariat of the CPC Central Committee, vice-chairpersons of the Standing Committee of the National People’s Congress who are Party members, State Councilors, the president of the Supreme People’s Court, the vice-chairpersons of the National Committee of the Chinese People’s Political Consultative Conference who are Party members, and members of the Central Military Commission.

    Those who participated in the study session included leading officials of all provinces, autonomous regions, municipalities, the Xinjiang Production and Construction Corps, the relevant central and state departments, relevant people’s organizations, centrally-administered financial institutions, enterprises, universities, as well as leading officials from various units of the People’s Liberation Army and the Armed Police Force. Leaders of the central committees of the other political parties, the All-China Federation of Industry and Commerce, and relevant sectors sat in on the opening ceremony.

    Notes:

    “Two Affirmations”:

    The affirmation of Comrade Xi Jinping’s core position on the Party Central Committee and in the Party as a whole and the affirmation of the guiding role of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era.

    “Two Upholds”:

    “Two Upholds” refers to upholding General Secretary Xi Jinping’s core position on the CPC Central Committee and in the Party as a whole, and upholding the Central Committee’s authority and its centralized, unified leadership.

    MIL OSI China News –

  • MIL-OSI China: China, New Zealand launch fast patent grant program

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

    BEIJING, Oct. 31 — China and New Zealand have launched a two-year fast-track patent grant program to simplify the intellectual property application process for innovators from both countries.

    The Patent Prosecution Highway (PPH) pilot program between the China National Intellectual Property Administration (CNIPA) and the Intellectual Property Office of New Zealand will be effective from Nov. 1, 2024 until Oct. 31, 2026.

    PPH is a fast-track process that links the patent examination duties of different countries or regions, allowing patent examination authorities to share their work to speed up patent examination.

    Once China has issued a favorable decision on a patent claim, applicants can use the PPH program to request an expedited review of related claims by New Zealand’s IP office. This streamlines the approval process, according to the CNIPA.

    Such rapid authorization means that innovators can protect their intellectual property and prevent imitation or infringement by competitors.

    By the end of 2023, China became the first country in the world with more than 4 million valid invention patents. It has been the leading global source of international patent applications since 2019.

    Since initiating the first PPH pilot program in November 2011, the CNIPA has built PPH ties with the patent examination authorities of 33 countries and regions.

    MIL OSI China News –

  • MIL-OSI New Zealand: Health – General practices welcome fast-track approvals process

    Source: GenPro

    A new fast-track approval process is a good start, but more is needed to fix New Zealand’s chronic GP shortage, says the General Practice Owners Association (GenPro)

    Up to now, all doctors from overseas who applied for specialist registration in New Zealand have needed to have their qualifications, training and experience assessed by the relevant specialist medical college, which the New Zealand Medical Council says could take up to six months.

    “The new fast-track process for specialists from the United Kingdom, Ireland and Australia will be completed within 20 working days, which is great news”.

    A GenPro survey carried out in July found that nearly six out of 10 general practices had GP vacancies. Over-stretched general practices were reducing their hours, stopping new enrolments, and reducing their services, while patients in some areas were waiting weeks to see a doctor.

    “While we welcome the fast-track process, the key problem remains. General practices are under- funded by Te Whatu Ora/Health New Zealand and restricted from increasing their patient fees. These long-standing problems and changes in patient health needs have eroded the financial sustainability of general practices, which means GPs are working harder for less money. Fast-tracking is a positive first step, with more work needed to tackle our workforce challenges.

    “In addition to fast-tracking graduates, the government should focus on properly funding general practice so we can rebuild our depleted and over-stretched work force.

    “GenPro agrees with Health Minister Shane Reti that internationally qualified doctors play an important role in providing quality care to New Zealanders, and we look forward to seeing further work on bringing in more suitably-trained doctors”.

    GenPro, which represents about half of all general practices in Aotearoa, is ready to work with the Minister of Health and the Health NZ Commissioner to develop the solutions needed.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Animal welfare – Join 31,000 Kiwis and Pets in Supporting a Ban on Private Fireworks to Protect Animals

    Source: Pawprint Petition

    Over watching Your Household Pet Shiver in Fear? Now is the Time to Act.

    Over 31,000 kiwis and pets have signed the Pawprint Petition: Ban Private Sales of Fireworks on Behalf of the Animals of NZ.

    As Guy Fawkes approaches, pet owners across Aotearoa once again brace for the distress that fireworks bring to their beloved animals. The loud bangs and flashing lights may be a spectacle for some, but for many animals, they are a source of fear and anxiety that can last well beyond the Guy Fawkes period.

    Animates is calling for an end to the private sale and use of fireworks, advocating instead for people to attend controlled public displays to protect pets, farm animals, and wildlife.

    The Pawprint Petition: Ban Private Sales of Fireworks on Behalf of the Animals of NZ is live at https://pawprintpetition.co.nz and is calling on Kiwis to add their voice — and in a unique world first – pets can sign the petition too by adding a pawprint.

    The petition will be presented to the House of Representatives, urging the Government to ban the private sale and use of fireworks in New Zealand.

    “Each year, our stores and Vet clinics are flooded with stories of stressed-out pets and worried owners,” says Neil Cowie, CEO, Animates. “Fireworks are no longer just a Guy Fawkes problem. Stockpiling leads to fireworks being set off throughout the year, compounding the stress and danger for animals.”

    Angela Mace, owner of Woodlands Dog Retreat, sees the impact firsthand, “Every year, we see dogs shivering in fear or cowering in the corner. Fireworks are terrifying for them, and it’s heartbreaking to watch. We’re urging the public to stand up for our animals and push for a ban on backyard fireworks.”

    According to a report in 2019, 74.4% of people noticed their animals displaying fear of fireworks, with common behaviours including hiding (70.8%), shivering (54.3%), and cowering (44.5%).  Despite these alarming figures, 71.9% of owners with frightened pets did not seek help or treatment for their animals. Instead, many kept their pets indoors (46%) or provided comfort (28.2%) to alleviate their distress.**

    Help to create a safer, less stressful environment for animals across New Zealand. Sign the world first Pawprint Petition to ban the private sale and use of fireworks here https://pawprintpetition.co.nz, add your name, and if you have a pet add their pawprint, to help bring about change.

    The world first Pawprint Petition: Ban Private Sale and Use of Fireworks on Behalf of the Animals of NZ is proudly bought to kiwis and their pets by Animates.

    Information sheet here:  Paw Petition: https://drive.google.com/drive/folders/1UgJwlxSbtZ3PV6w9AAccyNsZohZdBYr4?usp=sharing

    Notes:

    *Survey conducted by AA Insurance, in 2023.

    **An article published in Veterinary Magazine, update (2019) on owner perceptions and management of the adverse behavioural effects of fireworks on companion animals https://www.tandfonline.com/doi/abs/10.1080/00480169.2019.1638845

    MIL OSI New Zealand News –

  • MIL-OSI: Scheme of Arrangement for Acquisition of i3 Energy plc Becomes Effective

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

    FOR IMMEDIATE RELEASE

    CALGARY, Alberta, Oct. 31, 2024 (GLOBE NEWSWIRE) —

    31 October 2024

    RECOMMENDED AND FINAL CASH AND SHARE ACQUISITION

    for

    i3 Energy plc (“i3 Energy”)

    by

    Gran Tierra Energy Inc. (“Gran Tierra”)

    to be implemented by way of a scheme of arrangement under Part 26 of the Companies Act 2006

    SCHEME OF ARRANGEMENT BECOMES EFFECTIVE

    On 19 August 2024, the boards of directors of i3 Energy and Gran Tierra announced that they had reached agreement on the terms of a recommended and final cash and share acquisition of the entire issued, and to be issued, share capital of i3 Energy (the “Acquisition”). The Acquisition is being implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.

    i3 Energy published a circular in relation to the Scheme dated 29 August 2024 (the “Scheme Document“).

    On 29 October 2024, i3 Energy announced that the Court had sanctioned the Scheme at the Sanction Hearing held on 29 October 2024.

    i3 Energy and Gran Tierra are pleased to announce that, following delivery of the Court Order to the Registrar of Companies and satisfaction or waiver of all of the conditions set out in the Scheme Document, the Scheme has now become Effective in accordance with its terms and, pursuant to the Scheme, the entire issued and to be issued share capital of i3 Energy is now owned by Gran Tierra.

    Consideration

    A Scheme Shareholder on the register of members of i3 Energy at the Scheme Record Time, being 6.00 p.m. on 30 October 2024, will be entitled to receive one New Gran Tierra Share per every 207 i3 Energy Shares held and 10.43 pence cash per i3 Energy Share subject to any adjustments to such consideration resulting from valid Elections made under the Mix and Match Facility. For Scheme Shareholders holding Scheme Shares in certificated form, settlement of the consideration will be effected by electronic payment or (for those Scheme Shareholders who have not set up an electronic payment mandate) by the despatch of cheques. For Scheme Shareholders holding Scheme Shares in uncertificated form, settlement of consideration will be effected by the crediting of CREST or CDS accounts, as applicable. In each case settlement of consideration will occur as soon as practicable and in any event not later than 14 days after the date of this announcement, being 14 November 2024.

    Further to the announcement on 7 October 2024, i3 Energy confirms that, the Scheme having become Effective, the Acquisition Dividend totalling £3,084,278 will be paid as follows:

      Dividend: 0.2565 pence / i3 Energy Share
         
      Record Date: 6.00 p.m. on 30 October 2024
         
      Payment date: by 13 November 2024
         

    i3 Energy admission to listing on AIM

    An application was made for the suspension of admission to trading in i3 Energy Shares on the London Stock Exchange’s AIM Market (“AIM“) and such suspension has taken effect from 7.30 a.m. today. The cancellation of the admission to trading of the i3 Energy Shares on AIM has been applied for and is expected to take place by 8.00 a.m. on 1 November 2024. The delisting of the i3 Energy Shares on the Toronto Stock Exchange has been applied for and is expected to take place at the close of markets on 1 November 2024.

    Gran Tierra admission of shares to listing

    An application has been made for the admission of 5,808,925 new shares (the “Consideration Shares“) of common stock of par value USD0.001 per share in Gran Tierra. Gran Tierra has applied for the Consideration Shares to be admitted to the Equity Shares (International Commercial Companies Secondary Listing) Category of the Official List of the Financial Conduct Authority and to trading on the main market of the London Stock Exchange PLC (together, “Admission“).

    Gran Tierra expects Admission of the Consideration Shares to occur at 8.00 a.m. on 1 November 2024. The Consideration Shares will rank pari passu in all respects with Gran Tierra’s existing shares of common stock of par value USD0.001 per share.

    Total Voting Rights

    Following Admission, Gran Tierra will have total issued share capital of 36,460,141 common shares, and holds no common shares in treasury. Gran Tierra Shareholders may use the figure of 36,460,141 as the denominator in calculations to determine if they are required to notify Gran Tierra of their interest in, or a change to their interest in Gran Tierra under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

    Cancellation of the Trafigura Loan Facility

    Gran Tierra also announces that the Loan Facility entered into on 19 August 2024 with Trafigura has today been cancelled. As announced on 18 September 2024, Gran Tierra completed an offering of an additional US$ 150 million aggregate principal amount of its 9.500% Senior Secured Amortizing Notes due 2029, the net proceeds of which are being applied to satisfy the cash consideration payable to i3 Energy Shareholders in place of the term loan facility available to Gran Tierra pursuant to the terms of the Loan Facility.

    Board and constitutional changes

    Each of the i3 Energy Directors has resigned as a director of i3 Energy with effect from the Scheme becoming Effective.

    Pedro Zutara, Adam Hewitson and Amy Lister have been appointed as directors of i3 Energy with effect from the Scheme becoming Effective.

    i3 Energy will in due course submit an application to cease to be a reporting issuer in each of the provinces of Canada under National Policy 11-206 – Process for Cease to be a Reporting Issuer Applications. i3 Energy is expected to be converted to a private limited company and its name changed to Gran Tierra UK Limited. As disclosed in the Scheme Document, i3 Energy Shares are expected to be transferred to a wholly-owned subsidiary of Gran Tierra following completion of the re-registration.

    Full details of the Acquisition are set out in the Scheme Document. Defined terms used but not defined in this announcement have the meanings set out in the Scheme Document. All references to times in this announcement are to London time.

    Enquiries:

    Gran Tierra
    Gary Guidry
    Ryan Ellson            		 Tel: +1 (403) 265 3221
       
    i3 Energy
    Majid Shafiq (CEO)    		 c/o Camarco
    Tel: +44 (0) 203 757 4980 
       
    Stifel Nicolaus Europe Limited (Joint Financial Adviser to Gran Tierra)
    Callum Stewart
    Simon Mensley    		 Tel: +44 (0) 20 7710 7600
       
    Eight Capital (Joint Financial Adviser to Gran Tierra)
    Tony P. Loria
    Matthew Halasz    		 Tel: +1 (587) 893 6835
       
    Zeus Capital Limited (Rule 3 Financial Adviser, Nomad and Joint Broker to i3 Energy)
    James Joyce, Darshan Patel, Isaac Hooper     		  
    Tel: +44 (0) 203 829 5000 
       
    Tudor, Pickering, Holt & Co. Securities – Canada, ULC (Financial Adviser to i3 Energy)
    Brendan Lines     		 Tel: +1 (403) 705 7830
       
    National Bank Financial Inc. (Financial Adviser to i3 Energy)
    Tarek Brahim Arun Chandrasekaran     		  
    Tel: +1 (403) 410 7749
       
    Camarco
    Georgia Edmonds, Violet Wilson, Sam Morris    		 Tel: +44 (0) 203 757 4980
       

    No increase statement

    The financial terms of the Acquisition will not be increased save that Gran Tierra reserves the right to revise the financial terms of the Acquisition in the event: (i) a third party, other than Gran Tierra, announces a firm intention to make an offer for i3 Energy on more favourable terms than Gran Tierra’s Acquisition; or (ii) the Panel otherwise provides its consent.

    Notices relating to financial advisers

    Stifel Nicolaus Europe Limited (“Stifel“), which is authorised and regulated by the FCA in the UK, is acting as financial adviser exclusively for Gran Tierra and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than Gran Tierra for providing the protections afforded to its clients or for providing advice in relation to matters referred to in this announcement. Neither Stifel, nor any of its affiliates, owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Stifel in connection with this announcement, any statement contained herein or otherwise.

    Eight Capital (“Eight Capital“), which is authorised and regulated by the Canadian Investment Regulatory Organization in Canada, is acting exclusively for Gran Tierra and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Gran Tierra for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.

    Zeus Capital Limited (“Zeus“), which is authorised and regulated by the FCA in the United Kingdom, is acting exclusively for i3 Energy as financial adviser, nominated adviser and joint broker and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than i3 Energy for providing the protections afforded to clients of Zeus, or for providing advice in relation to matters referred to in this announcement. Neither Zeus nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Zeus in connection with the matters referred to in this announcement, any statement contained herein or otherwise.

    Tudor, Pickering, Holt & Co. Securities – Canada, ULC (“TPH&Co.”), which is regulated by the Canadian Investment Regulatory Organization and a member of the Canadian Investor Protection Fund, is acting exclusively for i3 Energy by way of its engagement with i3 Energy Canada Ltd., a wholly owned subsidiary of i3 Energy, in connection with the matters referred to in this announcement and for no one else, and will not be responsible to anyone other than i3 Energy for providing the protections afforded to its clients nor for providing advice in relation to the matters set out in this announcement. Neither TPH&Co. nor any of its subsidiaries, branches or affiliates and their respective directors, officers, employees or agents, owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of TPH&Co. in connection with this announcement, any statement contained herein or otherwise.

    National Bank Financial Inc. (“NBF”), which is regulated by the Canadian Investment Regulatory Organization and a member of the Canadian Investor Protection Fund, is acting as financial adviser to i3 Energy Canada Ltd., a wholly-owned subsidiary of i3 Energy plc, in connection with the subject matter of this announcement. Neither NBF, nor any of its subsidiaries, branches or affiliates and their respective directors, officers, employees or agents, owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of NBF in connection with this announcement, any statement contained herein or otherwise.

    Additional Information

    This announcement is for information purposes only. It is not intended to, and does not, constitute or form part of any offer, offer to acquire, invitation or the solicitation of an offer to purchase, or an offer to acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise nor shall there be any sale, issuance or transfer of securities of Gran Tierra or i3 Energy pursuant to the Acquisition in any jurisdiction in contravention of applicable laws.

    This announcement is not an offer of securities for sale in the United States or in any other jurisdiction. No offer of securities shall be made in the United States absent registration under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or pursuant to an exemption from, or in a transaction not subject to, such registration requirements. Any securities issued as part of the Acquisition are anticipated to be issued in reliance upon available exemption from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act. Any New Gran Tierra Shares to be issued in connection with the Acquisition are expected to be issued in reliance upon the prospectus exemption provided by Section 2.11 or Section 2.16, as applicable, of National Instrument 45-106 – Prospectus Exemptions of the Canadian Securities Administrators and in compliance with the provincial securities laws of Canada.

    This announcement has been prepared in accordance with the laws of England and Wales, the Code, the AIM Rules for Companies and the Disclosure Guidance and Transparency Rules and the information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside England and Wales. 

    This announcement does not constitute a prospectus or circular or prospectus exempted document.

    Overseas Shareholders

    The availability of the Acquisition to i3 Energy Shareholders who are not resident in the United Kingdom may be affected by the laws of the relevant jurisdictions in which they are resident. Any person outside the United Kingdom or who are subject to the laws and/regulations of another jurisdiction should inform themselves of, and should observe, any applicable legal and/or regulatory requirements. Any failure to comply with the restrictions may constitute a violation of the securities laws of any such jurisdiction.

    The release, publication or distribution of this announcement in or into or from jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, such restrictions. Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of such jurisdiction. To the fullest extent permitted by applicable law, the companies and persons involved in the Acquisition disclaim any responsibility or liability for the violation of such restrictions by any person.

    Unless otherwise determined by Gran Tierra or required by the Code and permitted by applicable law and regulation, the Acquisition will not be made available, directly or indirectly, in, into or from a Restricted Jurisdiction where to do so would violate the laws in that jurisdiction and no person may vote in favour of the Acquisition by any such use, means, instrumentality or form (including, without limitation, facsimile, email or other electronic transmission, telex or telephone) within any Restricted Jurisdiction or any other jurisdiction if to do so would constitute a violation of the laws of that jurisdiction. Accordingly, copies of this announcement and all documents relating to the Acquisition are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in, into or from a Restricted Jurisdiction where to do so would violate the laws in that jurisdiction, and persons receiving this document and all documents relating to the Acquisition (including custodians, nominees and trustees) must observe these restrictions and must not mail or otherwise distribute or send them in, into or from such jurisdictions where to do so would violate the laws in that jurisdiction. Doing so may render invalid any purported vote in respect of the Acquisition.

    Dealing and Opening Position Disclosure Requirements

    Under Rule 8.3(a) of the Takeover Code, any person who is interested in one per cent. or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the Offer Period and, if later, following the announcement in which any securities exchange offeror is first identified.

    An Opening Position Disclosure must contain details of the person’s interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 p.m. (London time) on the 10th Business Day following the commencement of the Offer Period and, if appropriate, by no later than 3.30 p.m. (London time) on the 10th Business Day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

    Under Rule 8.3(b) of the Takeover Code, any person who is, or becomes, interested in one per cent. or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person’s interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 p.m. (London time) on the Business Day following the date of the relevant dealing. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

    Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4). Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel’s website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the Offer Period commenced and when any offeror was first identified. You should contact the Panel’s Market Surveillance Unit on +44 20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

    Publication on website and availability of hard copies

    In accordance with Rule 26.1 of the Code, a copy of this announcement is and will be available free of charge, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, for inspection on i3 Energy ‘s website  https://i3.energy/grantierra-offer-terms/ and on Gran Tierra’s website https://www.grantierra.com/investor-relations/recommended-acquisition/ by no later than 12 noon (London time) on the Business Day following this announcement. For the avoidance of doubt, the contents of the website referred to in this announcement are not incorporated into and do not form part of this announcement.

    Forward Looking Statements

    This announcement (including information incorporated by reference into this announcement), oral statements regarding the Acquisition and other information published by Gran Tierra and i3 Energy contain certain forward-looking statements with respect to the financial condition, strategies, objectives, results of operations and businesses of Gran Tierra and i3 Energy and their respective groups and certain plans and objectives with respect to the Combined Group. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Gran Tierra and i3 Energy about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. The forward looking statements contained in this announcement include, without limitation, statements relating to the expected effects of the Acquisition on Gran Tierra and i3 Energy, the expected timing and method of completion, and scope of the Acquisition, the expected actions of i3 Energy and Gran Tierra upon completion of the Acquisition and other statements other than historical facts. Forward looking statements often use words such as “anticipate”, “target”, “expect”, “estimate”, “intend”, “plan”, “strategy”, “focus”, “envision”, “goal”, “believe”, “hope”, “aims”, “continue”, “will”, “may”, “should”, “would”, “could”, or other words of similar meaning. These statements are based on assumptions and assessments made by Gran Tierra, and/or i3 Energy in light of their experience and their perception of historical trends, current conditions, future developments and other factors they believe appropriate. By their nature, forward looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct and readers are therefore cautioned not to place undue reliance on these forward-looking statements. Actual results may vary from the forward-looking statements.

    There are several factors which could cause actual results to differ materially from those expressed or implied in forward looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business, competitive, market and regulatory forces, future exchange and interest rates, changes in tax rates and future business acquisitions or dispositions.

    Each forward-looking statement speaks only as at the date of this announcement. Neither Gran Tierra nor i3 Energy, nor their respective groups assume any obligation to update or correct the information contained in this announcement (whether as a result of new information, future events or otherwise), except as required by applicable law or by the rules of any competent regulatory authority.

    Early Warning Reporting Provisions of Canadian Securities Laws

    Certain of the information in this announcement is being issued under the early warning reporting provisions of Canadian securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR profile of i3 Energy at www.sedarplus.ca. The purpose of the Scheme was to enable Gran Tierra to acquire 100% of the share capital of i3 Energy. Immediately prior to the completion of the Scheme, Gran Tierra did not own, directly or indirectly, any securities of i3 Energy. To obtain a copy of the early warning report, you may also contact Phillip Abraham, Vice President, Legal & Business Development at 403-698-7918. Gran Tierra is an oil and gas company subsisting under the laws of Delaware, United States and its head office is located at 500 Centre Street SE, Calgary, Alberta T2P 1A6 and i3 Energy’s head office is located at 500, 207 – 9 Ave SW, Calgary, Alberta T2P 1K3.

    The MIL Network –

  • MIL-OSI Russia: “Science is international and aimed at the benefit of all mankind”

    Translation. Region: Russian Federation –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Sharing research results

    This year, our International Center for Decision Analysis and Choice at the National Research University Higher School of Economics celebrates its 15th anniversary. This HSE division carries out work that is at the forefront of scientific research in various fields, and we also interact a lot with various universities around the world. And almost every year we hold schools such as the autumn school “Advances in Decision Analysis”. Its goal is for scientists to learn what is being done in science around the world. Science is not Russian or American, English, science is international, it is aimed at the benefit of all humanity. We must constantly exchange research results. And within the framework of the school, we receive the very latest scientific work of the highest level. This is of great importance for our students and teachers. Lagging behind is dangerous, and our school exists to prevent it.

    Comfortable format

    The online format is convenient for our school. During Covid, we mastered this technology because people could not travel. In the current political situation, there are also restrictions, but the respect for our school is very high, so many foreign colleagues agreed to give presentations online. As part of the autumn school, we made several broadcasts on the Internet, which were joined by participants from various universities in Russia and around the world.

    List of speakers

    The first speaker was Professor Arunava Sen, one of India’s leading scientists who works at the Indian Statistical Institute. Some schools in India have an excess supply of teachers, while others have a shortage, and the speaker explained how to effectively reassign teachers, taking into account their wishes and the needs of the schools. Then Ahmed Alkan from Sabanci University, Turkey, one of the largest specialists in the field of generalized matchings, spoke – also completely new work related to representing these matchings in the form of lattices. The next speaker, Mario Guarracino from the University of Cassino, Italy, gave an amazing overview of neural network analysis methods and how neural networks operate. Eric Maskin, an employee of our center and a Nobel laureate, also spoke; I was delighted by his work on classical voting models. But he made very significant progress here. Alexey Myachin, also our employee, gave a report on completely new models in pattern analysis. This is a direction that has been developing for us for 20 years. Very high-quality new results have been obtained. The next talk is by Michel Grabisch from the Panthéon-Sorbonne University in Paris, who spoke about the possibility of generating linear orders. Then Vladimir Makarenkov, head of the bioinformatics department at the University of Quebec in Montreal, Canada, spoke about bioinformatics and practical applications. One of the world’s leading experts in the field of data analysis, Boris Mirkin, also spoke, who spoke about new models of K-means algorithms for data analysis. Colleagues from Sberbank Dzhangir Dzhangirov and Andrey Vashevnik spoke about large linguistic models and new visions for risk assessments. 

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

    MIL OSI Russia News –

  • MIL-OSI Russia: To Raisa Ryazanova, People’s Artist of Russia

    Translation. Region: Russian Federation –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Mikhail Mishustin congratulated the theater, film and dubbing actress on her anniversary.

    The telegram, in particular, notes:

    “You have captivated the audience with your skill, sincerity, spiritual beauty and a whole series of memorable, diverse images. Brilliantly played roles in films by famous directors have brought you well-deserved recognition, the love of numerous fans and popularity.

    I wish you good health and prosperity.”

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

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Local News – Porirua City Council agrees future direction for water services

    Source: Porirua City Council

    Porirua City Council agreed today to work with other councils in the region to create a joint water services delivery and implementation plan.
    Nine councils in the Wellington region, along with Horowhenua District Council, have been working together in response to the Government’s Local Water Done Well policy, and received a report earlier this month outlining a recommended regional approach to water services delivery.
    All councils are required to submit water service delivery plans to the Government by September 2025. To achieve this councils may work alone or with other councils and by the end of this year need to decide on their approach.
    Most of the councils in the region are expected to make their decisions on options in late October, with Horowhenua and Kapiti Coast District Councils making decisions in late November. Carterton District Council resolved yesterday to exit the Wellington regional approach, instead opting for a local model.
    At a full council meeting today, Porirua City Council considered the advantages and disadvantages of a range of options, and agreed that a regional approach was the best way forward.
    Under the regional model, Porirua City Council would be a shared owner, with other councils, of a limited liability company that delivers the full breadth of water services functions to the community. All assets, revenue and debt would transfer from Council ownership to the new company.
    The company would provide all services directly to water customers, and bill directly for water usage and services provided. Those charges will be determined by the board of the new water company, with the oversight of an economic regulator. It will need to provide a high level of local service delivery, including good compliance, response times, affordability and supply.
    Porirua Mayor Anita Baker said the regional approach had a number of benefits.
    “This option will create an organisation with the scale needed to best manage the current and future water challenges in the region.
    “Our drinking water, wastewater and stormwater services all need fixing and this will take an ongoing, joint effort. More than 20 per cent of the region’s water assets are worn out and need to be replaced, which means a significant risk of major service failures.
    “Working together gives us the best chance to address these issues, and financial modelling so far shows that this is likely the most effective solution.
    “This is a long game, and one the region can best tackle by working together,” Mayor Baker said.
    Once the final number of councils opting to continue with the regional approach is known, the next steps of modelling will be done, and Council will be asked to decide on a final preferred option in March 2025. Consultation with the community will then take place, with a final Water Services Delivery Plan and Implementation Plan to be signed off in June. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Weather News – Trick or Treat for Halloween? – MetService

    Source: MetService

    Covering period of Thursday 31 October – Monday 4 November – Looks like we are in for a boo-tiful evening for the eastern parts of the country, and trick-or-treaters heading out this evening will enjoy the best of the weather. Clear skies and dry weather are set to keep things spooktacular from the Bay of Plenty, round the east coast and down to Christchurch. Western areas will be keeping hold of more cloud into the evening while rain runs into Southland and Stewart Island.

    A series of weather fronts move northwards up the South Island today and tomorrow, and a Heavy Rain Watch has been issued for the Paparoa Range as well as the ranges of Buller from 11am – 11pm on Friday. Mostly dry weather will be seen over on the east of the South Island on Thursday, but a southerly change on Friday afternoon brings a risk of heavy showers and thunderstorms about Dunedin and North Otago.

    The first of the mix of fronts moving up the South Island reaches the lower North Island Friday afternoon, squeezing northwesterly winds through Cook Strait. A gusty end to Friday is in store about the Marlborough Sounds and Wellington, with winds reaching 90 km/h at times.

    MetService meteorologist Clare O’Connor advises, “It’s a wet Saturday for both the North and South Islands, the fronts which brought rain to the South continue over the North on Saturday, while showery southwesterly winds continue in the South Island. These winds come with a bit of a bite and will arrive about the lower North Island Saturday evening.”

    Temperatures could dip to 0°C about Central Otago as skies mostly clear overnight into Sunday, but the showers and southerly winds will be especially felt about the eastern North Island. Daytime temperatures in the Hawke’s Bay drop from an expected maximum of 26°C on Saturday to a cooler 16°C on Sunday. The treat of nicer weather to end the weekend may be a little too late for Halloween but is likely to be a welcome reprieve.

    Participants in the Auckland Marathon on Sunday can expect a cool and dry course; while southwesterly winds will be apparent crossing the Auckland Harbour Bridge, they won’t take away from the unique experience of crossing the harbour on foot.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Consumer NZ urges government to get domestic aviation market study off the ground

    Source: Consumer NZ

    Consumer NZ has written to the Minister of Commerce and Consumer Affairs, urging him to direct the Commerce Commission to undertake a market study into New Zealand’s aviation sector.

    Jon Duffy, Consumer NZ CEO, says in sectors where any single company holds a significantly high market share, such as Air New Zealand, which holds an 86% share, there is a risk competition isn’t working as it should to keep prices reasonable.

    In particular, the advocacy organisation is concerned by the findings of its own research into Air New Zealand’s use of dynamic pricing.

    Duffy says a market study would determine to what extent Air New Zealand may be taking advantage of its virtual monopoly.

    “For many New Zealanders, there’s Air New Zealand or nothing – and high fares are affecting our regions.

    “Our research has identified numerous red flags affecting competition in the sector that must be put under the microscope to assure consumers the cost of flying in New Zealand is truly fair.”

    In addition to the limited choice New Zealanders have when it comes to air travel, Consumer is concerned high barriers to entry reduce the likelihood that other carriers will enter the market to compete with Air New Zealand.

    Duffy also points out the government is a 51% shareholder in Air New Zealand but believes that there is no one holding the national carrier to account.

    “We understand Air New Zealand is facing its own set of challenges, like constrained fleet availability and increasing costs in some areas.

    “Our concern remains – New Zealand has the most concentrated domestic aviation market in the world¹, so when Air New Zealand says its pricing is fair, we are forced to take their word for it. A market study would tell us whether we can rely on what we’re being told.

    “A Commerce Commission market study won’t solve anti-competitive behaviour, but getting information about how competition is working in the sector will highlight what interventions may be necessary and provide confidence New Zealanders aren’t being ripped off.”

    Notes

    ¹ Sabre Market Intelligence for the 2023 calendar year for domestic markets with more than 5 million seats operated by airlines. New Zealand has the most concentrated domestic aviation market in the world with one airline holding 86% of seats in the market.

    About Consumer

    Consumer NZ is an independent, non-profit organisation dedicated to championing and empowering consumers in Aotearoa. Consumer NZ has a reputation for being fair, impartial and providing comprehensive consumer information and advice.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Transport – Economist Cam Bagrie appointed chairman of the board for Transporting New Zealand

    Source: Ia Ara Aotearoa Transporting New Zealand

    Leading economist Cam Bagrie has been appointed as an independent director, board member and Chair of peak road freight organisation Ia Ara Aotearoa Transporting New Zealand.
    Mr Bagrie is the former chief economist at ANZ and has held positions at National Bank, Treasury, and Statistics New Zealand. He is currently an independent chair of the governance committee of the NZ Apple and Pear Inc and a board member of Life Education Trust.
    Transporting New Zealand CEO Dom Kalasih says Mr Bagrie will bring “additional skills, experience and knowledge to the Board and to our leadership”.
    The appointment was made by the organisation’s new board this week, which also formally confirmed Dom Kalasih as CEO, a role he’s held in an interim capacity for 18 months.
    Kalasih said on top of Cam Bagrie’s appointment, the next 12 months look very exciting for the organisation.
    “I see the effectiveness of sector groups such as livestock, ports and logging really taking off and more relationships with industry suppliers being formed.
    “For Transporting New Zealand, continuing to improve engagement across our membership is vital. We are committed to holding more quality events and leading high-level policy advocacy to benefit the road freight industry.”
    About Ia Ara Aotearoa Transporting New Zealand
    Ia Ara Aotearoa Transporting New Zealand is a national membership association representing the road freight transport industry. Their members operate urban, rural and inter- regional commercial freight transport services throughout the country. 
    Road is the dominant freight mode in New Zealand, transporting 92.8% of the freight task on a tonnage basis, and 75.1% on a tonne-km basis. The road freight transport industry employs over 34,000 people across more than 4,700 businesses, with an annual turnover of $6 billion.

    MIL OSI New Zealand News –

  • MIL-OSI: Financial results for Q1-Q3 2024

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 66
     

    Profit after tax of DKK 1,779 million and return on equity of 18.0%

    The financial statements for the first nine months of 2024 show a highly satisfactory net profit of DKK 1,779 million and a return on equity after tax of 18.0%. Overall, core income was 2% higher than in the first nine months of 2023 – supported both by higher net interest income and net fee income. Compared with the same period of last year, we recorded a decent increase in business volume, including a highly satisfactory increase in assets under management of DKK 11 billion, corresponding to 17%, as well as satisfactory lending growth of DKK 3.5 billion, or 6%.

    For the sixth consecutive quarter, persistently strong credit quality among the Bank’s retail and business customers enabled us to make a reversal of impairment charges. As a result, the total positive profit impact from impairment charges for the first nine months of 2024 was DKK 38 million. Another result of our very robust retail and business customers is that we now expect a full-year profit impact from loan impairment charges etc. of around DKK 0 million. Against this background, on 23 October 2024 we upgraded our full-year guidance for profit after tax to a range of DKK 2,100 – 2,300 million,” says Lasse Nyby, CEO.

    Please direct any questions regarding this release to Lasse Nyby, Chief Executive Officer, on tel. +45 9634 4011, or Rune Brandt Børglum, Head of Investor Relations, on tel. + 45 9634 4236.

    Rune Brandt Børglum
    Head of Investor Relations

    Attachments

    The MIL Network –

  • MIL-OSI Economics: Recommendations on merger control

    Source: International Chamber of Commerce

    Headline: Recommendations on merger control

    Competitive markets

    Download the recommendations

    To enhance compliance and proper enforcement of merger control regulations, ICC proposes recommendations and underscores the importance of companies, lawyers and antitrust agencies working side by side to pursue shared goals.

    Why are ICC’s recommendations on merger control relevant? 

    Over the past 40 years, a growing number of countries have adopted merger rules to examine the impact of mergers on competition and ensure the functioning of their markets. This unprecedented development has been spurred by recommendations from the Organisation for Economic Cooperation and Development and the International Competition Network.  

    As more jurisdictions establish merger control regimes, inconsistencies and procedural issues have emerged. Emphasising the importance of clear guidelines, ICC addresses these challenges by providing a comprehensive framework and recommendations for improving merger control practices.  

    The recommendations cover key areas such as the concept of reportable mergers, notification thresholds, simplified forms, funding of antitrust agencies, guidelines and gun jumping fines. 

    They aim to  

    • enhance predictability, 
    • reduce costs, 
    • ensure effective enforcement,  
    • promote consistency at a global level and 
    • reduce administrative burdens.  

    What makes ICC’s recommendations on merger control unique? 

    The recommendations are the result of a cooperative and inclusive effort involving nearly 200 ICC in-house counsel, private practitioners from 20 key jurisdictions and several antitrust agencies providing feedback.  

    The broad representation included in the country annex ensures that the recommendations reflect a global perspective and consider the needs and challenges faced by companies operating across borders. 

    ICC underscores the importance of continued collaboration among companies, lawyers and antitrust agencies to pursue the following shared goals:  

    • ensure that transactions are reported in jurisdictions where they might have an impact on competition;  
    • secure and dedicate resources that are proportionate to the issues at stake in an individual case;  
    • enhance predictability and legal certainty with clear legal tests and consistent sanctions. 

    Who are the recommendations on merger control for?  

    • companies, private practitioners, and antitrust agencies involved in merger transactions;  
    • companies engaged in cross-border transactions involving multiple merger control jurisdictions; 
    • antitrust agencies seeking insights and proposals for streamlining processes and achieving more effective enforcement 

    Should you have any further questions, contact us. 

    MIL OSI Economics –

  • MIL-OSI Submissions: Stats NZ information release: New Zealand business demography statistics: At February 2024

    Source: Statistics New Zealand

    New Zealand business demography statistics: At February 2024 – information release – 31 October 2024 – Business demography statistics provide an annual snapshot of the characteristics of New Zealand businesses. The statistics cover economically significant enterprises that produce goods and services in New Zealand.

    Key facts
    Provisional data showed that at February 2024:

    • New Zealand had 612,420 enterprises, an increase of 1.0 percent from February 2023; this followed a 2.0 percent increase in the previous February year
    • the number of paid employees in these enterprises (not an official employment statistic) was 2.5 million, up 1.5 percent from February 2023
    • these enterprises had 649,160 business locations, an increase of 0.9 percent from February 2023
    • of the 19 industries, 11 had more enterprises compared with February 2023, and 14 had more employees
    • of the 16 regions, 14 had more business locations than a year ago, and 11 had more employees.

    Visit Statistics NZ’s website to read this information release and to download CSV files:

     

    MIL OSI –

  • MIL-OSI Europe: The start-up “Patronus AI” wins over the DDPS in the Cyber Start-up Challenge 2024

    Source: Switzerland – Department of Defence, Civil Protection and Sport

    The Cyber Start-up Challenge of the Cyber-Defence Campus of armasuisse Science and Technology is held every year to find relevant start-ups and innovative technologies in the cyber area. In this year’s Cyber Start-up Challenge contest, the start-up “Patronus AI” won over the jury with a platform for automated evaluation and safeguarding of LLMs. In 2025, the start-up will be able to demonstrate its solution to the DDPS in practice in a feasibility study.

    MIL OSI Europe News –

  • MIL-OSI New Zealand: Reserve Bank of NZ – Home buyers remain cautious in subdued housing market

    Source: Reserve Bank of New Zealand

    31 October 2024 – Housing market activity is currently subdued, with interest rates still at elevated levels. Households continue to show resilience following the significant price rises and falls seen over the last four years, according to a special topic on housing from the upcoming Reserve Bank of New Zealand – Te Pūtea Matua Financial Stability Report.

    Understanding the dynamics of the housing market is crucial for Te Pūtea Matua, as home loans account for more than 60 percent of total bank lending. Residential property makes up over half of New Zealand households’ wealth and the housing market directly influences financial stability, affects consumer confidence, and shapes economic growth.

    “Ensuring that we remain vigilant in monitoring these trends and market dynamics is essential for safeguarding the financial system and broader economy,” says Kerry Watt, Director of Financial Stability Assessment & Strategy.

    “House prices remain a stretch for many prospective buyers and are hovering around the top of our estimate of sustainable levels. Banks are currently facing competitive pressures to attract a limited pool of creditworthy borrowers, ” Mr Watt says.

    Borrowers’ capacity to take on more debt is increasing as monetary policy is eased. However, the weaker economic environment means households are exercising caution. The level of interest rates is still high by recent standards and lending growth has been low over the past year. It is uncertain when and by how much demand for new borrowing will pick up.

    New Zealand saw a rapid house price cycle over the past few years. The special topic compares our experience with some international examples of house price cycles, including those that led to significant financial system distress.

    “Although New Zealand’s recent house price cycle has been rapid compared to overseas examples, there has been comparatively less stress on our financial system, demonstrating the robustness of our institutions and regulatory frameworks,” Mr Watt says.

    Looking ahead, government policy changes are underway to increase long-term supply responsiveness in the housing market. Better supply responses to housing demand will help to moderate future house price cycles and improve housing affordability. Debt-to-income restrictions will also play an important role in moderating demand cycles and reducing the buildup of risks.

    More information

    Read our update on the housing market  https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=8ebee3769c&e=f3c68946f8
    The 2024 November Financial Stability report will be published on our website at 9:00am on Tuesday 5 November, with a media conference starting at 1:00pm. See the full details. https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=2e769bc10c&e=f3c68946f8

    What is the Financial Stability report https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=2731de53b7&e=f3c68946f8

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Stats NZ information release: New Zealand business demography statistics: At February 2024

    Source: Statistics New Zealand

    New Zealand business demography statistics: At February 2024 – information release – 31 October 2024 – Business demography statistics provide an annual snapshot of the characteristics of New Zealand businesses. The statistics cover economically significant enterprises that produce goods and services in New Zealand.

    Key facts
    Provisional data showed that at February 2024:

    • New Zealand had 612,420 enterprises, an increase of 1.0 percent from February 2023; this followed a 2.0 percent increase in the previous February year
    • the number of paid employees in these enterprises (not an official employment statistic) was 2.5 million, up 1.5 percent from February 2023
    • these enterprises had 649,160 business locations, an increase of 0.9 percent from February 2023
    • of the 19 industries, 11 had more enterprises compared with February 2023, and 14 had more employees
    • of the 16 regions, 14 had more business locations than a year ago, and 11 had more employees.

    Visit our website to read this information release and to download CSV files:

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Surveys – New Zealand outranks Australia as the country that Americans want to relocate to the most, according to new research

    Source: Journo Research

    New Zealand ranks in eighth place with 11,866 average monthly searches, beating Australia with 10,919 searches.
    Canada is the country that Americans want to relocate to the most, with 28,722 average monthly relocation-related searches.
    The study analysed Google search data for keywords related to relocation inquiries to rank the countries Americans are most interested in moving to.

    New research reveals that Canada is the country Americans want to relocate to the most.
     
    Experts at QR Code Generator ranked countries by the average number of monthly Google searches for relocation-related terms, such as “move to Canada” and “Brazil visa.” The findings identified which countries Americans would like to relocate to the most.
     
    Canada ranks in first place with 28,722 average monthly searches. The country is the most searched in every state except California and Hawaii, where Japan holds the top spot.
     
    Vermont has the highest average monthly searches for Canada-related relocation terms per 100,000 of its population, at 20.34 searches.
     
    With 21,584 average monthly searches, Japan places second. Hawaii searches for Japan the most, with 26.36 average monthly searches per 100,000 locals. This search volume is also the highest out of any state’s interest in any country.
     
    Third place goes to Costa Rica with 15,511 average monthly searches. Montana has the highest average monthly searches for Costa Rica, with 8.90 searches per 100,000 residents.
     
    Brazil ranks in fourth place with 14,613 average monthly searches. With 7.64 average monthly searches per 100,000 locals, Massachusetts is the most interested in moving to Brazil.
     
    Earning fifth place, Mexico has 13,221 average monthly searches. South Dakota is the most interested in moving to Mexico, with 8.52 average monthly searches per 100,000 residents.

    Countries that Americans want to relocate to the most

     

    Ranking 

    Country 

    Average Monthly Google Searches  

    1 

    Canada 

    28,722 

    2 

    Japan 

    21,584 

    3 

    Costa Rica 

    15,511 

    4 

    Brazil 

    14,613 

    5 

    Mexico 

    13,221 

    6 

    Switzerland 

    12,963 

    7 

    Spain 

    12,592 

    8 

    New Zealand 

    11,866 

    9 

    Ireland 

    11,732 

    10 

    Italy 

    11,711 

     
    Switzerland ranks sixth, with 12,963 average monthly searches. With 5.08 average monthly searches per 100,000 locals, Massachusetts is the state that is the most interested in moving to the Central European country.
     
    With 12,592 average monthly searches, Spain takes seventh place. Even though Spain reaches its highest rank of fourth-most searched in New York, the state that has the highest volume of Spain-related searches is Rhode Island, with 7.98 searches per 100,000 residents.
     
    In eighth place, New Zealand has 11,866 average monthly searches. The country in Oceania was the second-most popular in Wyoming, Montana, and Hawaii, with 13.27, 9.42, and 11.85 average monthly searches per 100,000 locals, respectively.
     
    Ireland ranks in ninth place with 11,732 average monthly searches. Ireland was the second-most popular country with Vermont, Maine and West Virginia, receiving 13.77, 8.42, and 5.08 average monthly searches per 100,000 residents, respectively.
     
    Italy just makes the list in tenth place, with 11,711 searches. Alaska, Delaware, and Rhode Island had Italy as their second-most searched destination, with 12.84, 8.80, and 9.88 average monthly searches per 100,000 locals, respectively.  
     
    Marc Porcar, CEO of QR Code Generator PRO S.L, commented on the findings:
     
    “With its proximity and cultural similarities, Canada has emerged as the clear favorite for Americans considering a move abroad.

    “Yet some of the other top choices, like Japan, Costa Rica, and Brazil, are surprising, given the language barriers, unique cuisines, and distinct cultural landscapes they offer.

    “These findings reveal that many Americans aren’t just looking for an easy transition, but are drawn to the adventure of a richer, more diverse experience overseas.”

    If you publish these insights, please credit and link to QR Code Generator, as they conducted this research.
     
    Methodology
     
    To determine which countries have the highest interest for Americans looking to relocate, data from Google Keyword Planner was examined.  
     
    Terms like “move to [country]” and “visa [country]” were searched, and the average monthly search volume over the past 12 months was analysed to rank countries by the frequency of relocation searches.
     
    State data was compared to its respective populations.

    The 193 countries were taken from this United Nations source:

    https://www.un.org/en/about-us/member-states

    The combined search volume for each country’s 22 terms was calculated and used to rank the countries from highest to lowest average monthly searches.

    Full ranking: The countries Americans want to relocate to the most

     

    Ranking 

    Country 

    Average Monthly Google Searches  

    1 

    Canada 

    28,722 

    2 

    Japan 

    21,584 

    3 

    Costa Rica 

    15,511 

    4 

    Brazil 

    14,613 

    5 

    Mexico 

    13,221 

    6 

    Switzerland 

    12,963 

    7 

    Spain 

    12,592 

    8 

    New Zealand 

    11,866 

    9 

    Ireland 

    11,732 

    10 

    Italy 

    11,711 

    11 

    Portugal 

    11,057 

    12 

    Australia 

    10,919 

    13 

    Thailand 

    9,228 

    14 

    Germany 

    9,193 

    15 

    Turkey 

    9,089 

    16 

    Iceland 

    8,557 

    17 

    Norway 

    8,274 

    18 

    Sweden 

    7,696 

    19 

    France 

    7,685 

    20 

    United Kingdom 

    7,523 

    21 

    Greece 

    6,957 

    22 

    Netherlands 

    6,705 

    23 

    Kenya 

    6,632 

    24 

    Philippines 

    6,309 

    25 

    Finland 

    6,079 

    26 

    Denmark 

    6,013 

    27 

    Vietnam 

    6,005 

    28 

    Belize 

    5,838 

    29 

    Ghana 

    5,756 

    30 

    Panama 

    5,647 

    31 

    North Korea 

    5,441 

    32 

    South Korea 

    5,133 

    33 

    Dominican Republic 

    5,098 

    34 

    Russia 

    4,947 

    35 

    The Bahamas 

    4,851 

    36 

    South Africa 

    4,813 

    37 

    Argentina 

    4,769 

    38 

    Singapore 

    4,753 

    39 

    China 

    4,482 

    40 

    Taiwan 

    4,283 

    41 

    Poland 

    4,168 

    42 

    Israel 

    3,913 

    43 

    Colombia 

    3,910 

    44 

    India 

    3,906 

    45 

    Ecuador 

    3,885 

    46 

    Austria 

    3,648 

    47 

    Malaysia 

    3,633 

    48 

    Uruguay 

    3,510 

    49 

    Jamaica 

    3,386 

    50 

    Chile 

    3,356 

    MIL OSI New Zealand News –

  • MIL-OSI: OP Mortgage Bank: Interim Report 1 January–30 September 2024

    Source: GlobeNewswire (MIL-OSI)

    OP Mortgage Bank
    Interim Report 1 January–30 September 2024
    Stock Exchange Release 31 October 2024 at 10.00 EET

    OP Mortgage Bank: Interim Report 1 January–30 September 2024

    OP Mortgage Bank (OP MB) is the covered bond issuing entity of OP Financial Group. Together with OP Corporate Bank plc, its role is to raise funding for OP Financial Group from money and capital markets.

    Financial standing

    The intermediary loans and loan portfolio of OP MB totalled EUR 16,628 million (16,988)* on 30 September 2024. Bonds issued by OP MB totalled EUR 14,915 million (14,915) at the end of September.

    OP MB’s covered bonds after 8 July 2022 are issued under the Euro Medium Term Covered Bond (Premium) programme (EMTCB), pursuant to the Finnish Act on Mortgage Credit Banks and Covered Bonds (151/2022). The collateral is added to the EMTCB cover pool from the member cooperative banks’ balance sheets via the intermediary loan process on the issue date of a new covered bond.

    In January, OP MB issued a covered bond in the international capital market. The fixed-rate covered bond worth EUR 1 billion has a maturity of seven years and six months. All proceeds of the bond were intermediated to 63 OP cooperative banks in the form of intermediary loans.

    The terms of issue are available on the op.fi website, under Debt investors: www.op.fi/op-ryhma/velkasijoittajat/issuers/op-mortgage-bank/emtcb-debt-programme-documentation.

    On 30 September 2024, 98 OP cooperative banks had a total of EUR 14,800 million (14,800) in intermediary loans from OP MB.

    Impairment loss on receivables related to loans in OP MB’s balance sheet totalled EUR 0.1 million (-0.2). Loss allowance was EUR 2.4 million (2.6).

    Operating profit was EUR 6.4 million (8.3). The company’s financial standing remained stable throughout the reporting period.

    * The comparatives for 2023 are given in brackets. For income statement and other aggregated figures, the January–September 2023 figures serve as comparatives. For balance-sheet and other cross-sectional figures, figures at the end of the previous financial year (31 December 2023) serve as comparatives.

    Collateralisation of bonds issued to the public

    The covered bonds issued under the EMTCB programme worth EUR 25 billion established on 11 October 2022, in accordance with the Act on Mortgage Credit Banks and Covered Bonds (151/2022), totalled EUR 5,250 million. The cover pool included a total of EUR 5,781 million in loans serving as collateral on 30 September 2024. Overcollateralisation exceeded the minimum requirement under the Act (151/2022).

    The covered bonds issued under the Euro Medium Term Covered Note programme worth EUR 20 billion established on 12 November 2010, in accordance with the Act on Mortgage Credit Banks (Laki kiinnitysluottopankkitoiminnasta, 688/2010), totalled EUR 9,665 million. The cover pool included a total of EUR 11,900 million in loans serving as collateral on 30 September 2024. Overcollateralisation exceeded the minimum requirement under the Act (688/2010).

    Capital adequacy

    OP MB’s Common Equity Tier 1 (CET1) ratio stood at 49.3% (41.8) on 30 September 2024. The ratio was improved by the decrease in mortgages on OP MB’s balance sheet and the resulting reduction in capital requirement for credit risk. The minimum CET1 capital requirement is 4.5% and the requirement for the capital conservation buffer is 2.5%. The minimum total capital requirement is 8% (or 10.5% with the increased capital conservation buffer). Because OP MB covers capital requirements in their entirety with CET1 capital, the CET1 capital requirement is 10.5%. Estimated profit distribution has been subtracted from earnings for the reporting period.

    OP MB uses the Standardised Approach (SA) to measure its capital adequacy requirement for credit risk. The Standardised Approach is also used to measure the capital requirement for operational risks.

    OP MB belongs to OP Financial Group. As part of the Group, OP MB is supervised by the European Central Bank. OP Financial Group presents capital adequacy information in its financial statements bulletins and interim and half-year financial reports in accordance with the Act on the Amalgamation of Deposit Banks. OP Financial Group also publishes Pillar III disclosures.

    Own funds and capital adequacy, TEUR 30 Sep 2024 31 Dec 2023
    Equity capital 369,686 372,160
    Excess funding of pension liability -13 -13
    Share of unaudited profits   -7,490
    Proposed profit distribution -5,016  
    Insufficient coverage for non-performing exposures -4,632 -2,856
    CET1 capital 360,024 361,800
    Tier 1 capital (T1) 360,024 361,800
    Total own funds 360,024 361,800
    Total risk exposure amount    
    Credit and counterparty risk 679,352 812,205
    Operational risk 26,636 25,140
    Other risks* 24,774 27,336
    Total 730,762 864,682
    Ratios, %    
    CET1 ratio 49.3 41.8
    Tier 1 capital ratio 49.3 41.8
    Capital adequacy ratio 49.3 41.8
    Capital requirement    
    Own funds 360,024 361,800
    Capital requirement 76,765 90,829
    Buffer for capital requirements 283,259 270,971

    * Risks not otherwise covered.

    Liabilities under the Resolution Act

    Under regulation applied to crisis resolution of credit institutions and investment firms, the resolution authority is authorised to intervene in the terms and conditions of investment products issued by a bank in a way that affects an investor’s position. The EU’s Single Resolution Board (SRB) based in Brussels is OP Financial Group’s resolution authority. The SRB has confirmed a resolution strategy for OP Financial Group whereby the resolution measures would focus on the OP amalgamation and on the new OP Corporate Bank that would be formed in case of resolution. According to the resolution strategy, OP MB will continue its operations as the new OP Corporate Bank’s subsidiary.

    The SRB has set a Minimum Requirement for Own Funds and Eligible Liabilities (MREL) for OP MB. From May 2024, the MREL is 16% of the total risk exposure amount and 18.5% of the total risk exposure amount including a combined buffer requirement, and 6% of leverage ratio exposures. The requirement entered into force on 15 May 2024. The requirement includes a Combined Buffer Requirement (CBR) of 2.5%.

    OP MB’s buffer for the MREL requirement was EUR 215 million. The buffer consists of own funds only. OP MB clearly exceeds the MREL requirement. OP MB’s MREL ratio was 46% of the total risk exposure amount.

    Joint and several liability of amalgamation

    Under the Act on the Amalgamation of Deposit Banks (599/2010), the amalgamation of cooperative banks comprises the organisation’s central cooperative (OP Cooperative), the central cooperative’s member credit institutions and the companies belonging to their consolidation groups, as well as credit and financial institutions and service companies in which the above together hold more than half of the total votes. This amalgamation is supervised on a consolidated basis. On 30 September 2024, OP Cooperative’s member credit institutions comprised 99 OP cooperative banks, OP Corporate Bank plc, OP Mortgage Bank and OP Retail Customers plc.

    The central cooperative is responsible for issuing instructions to its member credit institutions concerning their internal control and risk management, their procedures for securing liquidity and capital adequacy, and for compliance with harmonised accounting policies in the preparation of the amalgamation’s consolidated financial statements.

    As a support measure referred to in the Act on the Amalgamation of Deposit Banks, the central cooperative is liable to pay any of its member credit institutions the amount necessary to preventing the credit institution from being placed in liquidation. The central cooperative is also liable for the debts of a member credit institution which cannot be paid using the member credit institution’s assets.

    Each member bank is liable to pay a proportion of the amount which the central cooperative has paid to either another member bank as a support measure or to a creditor of such a member bank in payment of an overdue amount which the creditor has not received from the member bank. Furthermore, if the central cooperative defaults, a member bank has unlimited refinancing liability for the central cooperative’s debts as referred to in the Co-operatives Act.

    Each member bank’s liability for the amount the central cooperative has paid to the creditor on behalf of a member bank is divided between the member banks in proportion to their last adopted balance sheets. OP Financial Group’s insurance companies do not fall within the scope of joint and several liability.

    According to section 25 of the Act on Mortgage Credit Banks (688/2010), which was valid at that time, the creditors of covered bonds issued prior to 8 July 2022 have the right to receive payment, before other claims, for the entire term of the bond, in accordance with the terms and conditions of the bond, out of the funds entered as collateral for the bond, without this being prevented by OP MB’s liquidation or bankruptcy. A similar and equal priority also applies to derivative contracts entered in the register of bonds, and to marginal lending facilities referred to in section 26, subsection 4 of said Act. For mortgage-backed loans issued prior to 8 July 2022 and included in the total amount of collateral of covered bonds, the priority of the covered bond holders’ payment right is limited to the amount of loan that, with respect to home loans, corresponds to 70% of the value of shares or property serving as security for the loan and entered in the bond register at the time of the issuer’s liquidation or bankruptcy declaration.

    Under section 20 of the Act on Mortgage Credit Banks and Covered Bonds (151/2022), which entered into force on 8 July 2022, the creditors of bonds issued after 8 July 2022, including the related management and clearing costs, have the right to receive payment from the collateral included in the cover pool, before other creditors of OP MB or the OP cooperative bank which is the debtor of an intermediary loan. A similar priority also applies to creditors of derivative contracts related to covered bonds, including the related management and clearing costs. Interest and yield accruing on the collateral, and any substitute assets, fall within the scope of said priority. Section 44, subsection 3 of the Act on Mortgage Credit Banks and Covered Bonds includes provisions on the creditor’s priority claim regarding cover pool liquidity support. According to said subsection, the creditor has the right to receive payment against the funds contained in the cover pool after claims based on the principal and interest of covered bonds secured by the cover assets included in the cover pool, obligations based on derivatives contracts associated with covered bonds, as well as administration and liquidation costs.

    Sustainability and corporate responsibility

    Responsible business is one of OP Financial Group’s strategic priorities. OP Financial Group’s sustainability programme guides the Group’s actions and is built around three themes: Climate and the environment, People and communities, and Corporate governance. Read more about the sustainability programme at www.op.fi/en/op-financial-group/corporate-social-responsibility.

    At OP Financial Group, sustainability and corporate responsibility are guided by a number of principles and policies. OP Financial Group is committed to complying not only with all applicable laws and regulations, but also with a number of international initiatives. The Group is committed to complying with the ten principles of the UN Global Compact initiative in the areas of human rights, labour rights, the environment and anti-corruption. OP Financial Group is a Founding Signatory of the Principles for Responsible Banking under the United Nations Environment Programme Finance Initiative (UNEP FI). Furthermore, OP Financial Group is committed to complying with the UN Principles for Responsible Investment and the UN Principles for Sustainable Insurance.

    As of the reporting year 2024, OP Financial Group reports on its sustainability and corporate responsibility in accordance with the European Sustainability Reporting Standards (ESRS) under the EU’s Corporate Sustainability Reporting Directive (CSRD).

    OP Financial Group has drawn up a biodiversity road map that includes measures to promote biodiversity at OP Financial Group. The aim is to create a nature positive handprint by 2030. ‘Nature positive’ means that OP Financial Group’s operations will have a net positive impact (NPI) on nature.

    OP Financial Group has also drawn up a Human Rights Statement and Human Rights Policy. OP Financial Group respects all recognised human rights, and the Human Rights Statement includes the requirements and expectations that OP Financial Group has set for itself and actors in its value chains. OP Financial Group is committed to remediation actions if it causes adverse human rights impacts.

    In March 2024, OP MB published a Green Covered Bond Report on the allocation and impacts of Finland’s first green covered bonds issued in March 2021 and April 2022. Under OP MB’s Green Covered Bond Framework, the proceeds from the bonds have been allocated to mortgages with energy-efficient residential buildings as collateral.

    The environmental impacts allocated to the green covered bonds in 2023 were 59,000 MWh of energy use avoided per year and 8,800 tonnes of CO2-equivalent emissions avoided per year. 

    Personnel

    On 30 September 2024, OP MB had six employees. OP MB has been digitising its operations and purchases all key support services from OP Cooperative and its Group members, reducing the need for its own personnel.

    Management

    The Board composition is as follows:

    Chair Mikko Timonen Chief Financial Officer, OP Cooperative
    Members Satu Nurmi Head of Personal Finance and Real Estate Services,
    OP Retail Customers plc
      Mari Heikkilä Head of Group Treasury & ALM, OP Corporate Bank plc

    OP MB’s Managing Director is Sanna Eriksson. The deputy Managing Director is Tuomas Ruotsalainen, Senior Covered Bonds Manager at OP MB.

    Risk profile

    OP MB has a strong capital base, capital buffers and risk-bearing capacity, and they are expected to remain strong throughout the rest of the year.

    OP MB’s most significant risks are related to the quality of collateral and to the structural liquidity and interest rate risks on the balance sheet for which limits have been set in the Banking Risk Policy. The key credit risk indicators in use show that OP MB’s credit risk exposure is stable. OP MB has used interest rate swaps to hedge against its interest rate risk. Interest rate swaps have been used to swap home loan interest, intermediary loan interest and interest on issued bonds onto the same basis rate. OP MB has concluded all derivative contracts for hedging purposes, applying fair value hedges which have OP Corporate Bank plc as their counterparty. OP MB’s interest risk exposure is under control and has been within the set limit.

    The liquidity buffer for OP Financial Group is centrally managed by OP Corporate Bank and therefore exploitable by OP MB. At the end of the reporting period, OP Financial Group’s Liquidity Coverage Ratio (LCR) was 214% and the Net Stable Funding Ratio (NSFR) was 130%. OP MB monitors its cash flows on a daily basis to secure funding liquidity and its structural funding risk on a regular basis as part of the company’s internal capital adequacy assessment process (ICAAP).

    An analysis of OP MB’s risk exposure should always take account of OP Financial Group’s risk exposure, which is based on the joint and several liability of all its member credit institutions. The member credit institutions are jointly liable for each other’s debts. All member banks must participate in support measures, as referred to in the Act on the Amalgamation of Deposit Banks, to support each other’s capital adequacy.

    OP Financial Group analyses the business environment as part of the ongoing risk assessment activities and strategy process. Megatrends and worldviews behind OP Financial Group’s strategy reflect driving forces that affect the daily activities, conditions and future of the Group and its customers. Factors currently shaping the business environment include climate, biodiversity loss, scientific and technological innovations, polarisation, demography and geopolitics. External business environment factors are considered thoroughly, so that their effects on customers’ future success are understood. OP Financial Group provides advice and makes business decisions that promote the sustainable financial success, security and wellbeing of its owner-customers and operating region while managing the Group’s risk profile on a longer-term basis. Advice for customers, risk-based service sizing, contract lifecycle management, decision-making, management and reporting are based on correct and comprehensive information.

    Events after the reporting period

    In October, OP MB issued a covered bond in the international capital market. The fixed-rate covered bond worth EUR 1 billion has a maturity of five years. All proceeds of the bond were intermediated to 48 OP cooperative banks in the form of intermediary loans.

    The terms of issue are available at the op.fi website, under Debt investors: www.op.fi/op-ryhma/velkasijoittajat/issuers/op-mortgage-bank/emtcb-debt-programme-documentation.

    In October, OP MB’s Board of Directors decided to sell OP MB’s on-balance sheet loan portfolio of EUR 1,825 million to 85 OP cooperative banks later this year.

    Outlook for 2024

    The Finnish economy was sluggish in the first half. GDP contracted over the previous year and unemployment increased. Forecast data suggests that the Finnish economy began to grow in the third quarter of 2024. Falling inflation and interest rates provide a basis for the recovery to continue. Risks associated with the economic outlook are still higher than usual. The escalation of geopolitical crises may abruptly affect capital markets and the economic environment.

    OP MB’s capital adequacy is expected to remain strong and risk exposure favourable. This will enable the issuance of new covered bonds also in the future.

    Time of publication of 2024 reports

    Report by the Board of Directors and Financial Statements 2024 Week 11, 2025
    Corporate Governance Statement 2024 Week 11, 2025

    Schedule for Financial Statements Bulletin 2024 and Interim Reports in 2025

    Financial Statements Bulletin 1 January‒31 December 2024 6 February 2025
    Interim Report 1 January–31 March 2025 7 May 2025
    Half-year Financial Report 1 January–30 June 2025 30 July 2025
    Interim Report 1 January–30 September 2025 28 October 2025

    Helsinki, 31 October 2024

    OP Mortgage Bank
    Board of Directors

    Additional information:

    Managing Director Sanna Eriksson, phone +358 10 252 2517

    DISTRIBUTION

    LSE London Stock Exchange
    Euronext Dublin (Irish Stock Exchange)
    Officially Appointed Mechanism (OAM)
    Major media
    op.fi

    The MIL Network –

  • MIL-OSI: CoinShares Appoints Lisa Avellini as Group General Counsel

    Source: GlobeNewswire (MIL-OSI)

    31stOctober 2024 | SAINT HELIER, Jersey | CoinShares International Limited (“CoinShares” or “the Group”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), the leading European investment company specialising in digital assets, is pleased to announce the appointment of Lisa Avellini as Group General Counsel, effective November 4, 2024.

    Lisa brings a wealth of valuable experience to CoinShares, with an extensive background in legal and compliance roles within leading global financial institutions. She joins CoinShares after three years at Balyasny Asset Management, where she oversaw global legal and compliance requirements for the credit division.

    Prior to her tenure at Balyasny, Lisa spent three years at Citadel, where she provided strategic legal guidance across a range of complex financial transactions and regulatory matters.

    Jean-Marie Mognetti, CEO of CoinShares, commented:

    “As the digital asset ecosystem increasingly aligns with traditional finance and its regulatory frameworks, Lisa’s extensive legal and regulatory experience with established investment firms strengthens our expertise to navigate this evolving landscape.

    Lisa’s appointment reinforces our leadership team and underscores our unwavering commitment to exemplary legal and regulatory compliance. Her arrival not only enhances our capabilities but also signifies CoinShares’ entry into a new growth phase, demonstrating our ability to attract premier talent from the world’s foremost investment companies.”

    Lisa Avellini added:

    “I am excited to join CoinShares at such a pivotal time in the company’s development. My career has always been driven by curiosity and innovation, and the digital asset industry presents unique challenges and opportunities. This is why I have decided to join a leader in this emerging industry. I look forward to contributing my experience to support CoinShares’ strategic objectives and to further enhance its strong compliance culture.”

    In her role as Group General Counsel, Lisa will oversee all legal and regulatory matters for CoinShares globally, providing strategic advice to the executive team and supporting the company’s growth initiatives.

    ABOUT COINSHARES

    CoinShares is the leading European investment company specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, and in the US by the Securities and Exchange Commission, National Futures Association and Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.

    For more information on CoinShares, please visit: https://coinshares.com
    Company | +44 (0)1534 513 100 | enquiries@coinshares.com
    Investor Relations | +44 (0)1534 513 100 | enquiries@coinshares.com

    PRESS CONTACT

    CoinShares
    Benoît Pellevoizin
    bpellevoizin@coinshares.com

    M Group Strategic Communications
    Peter Padovano
    press@coinshares.com

    The MIL Network –

  • MIL-OSI: YXT.com Group Holding Limited Announces Change of Auditor

    Source: GlobeNewswire (MIL-OSI)

    SUZHOU, China, Oct. 31, 2024 (GLOBE NEWSWIRE) — YXT.com Group Holding Limited (“YXT.com” or the “Company”), a leader and disruptor of the digital corporate learning industry in China, today announced the appointment of Marcum Asia CPAs LLP (“Marcum Asia”) as the Company’s independent registered public accounting firm, effective on October 31, 2024.

    Marcum Asia succeeds PricewaterhouseCoopers Zhong Tian LLP (“PwC”), which was previously the independent auditor providing audit services to the Company. The change of the Company’s independent auditor was made after careful consideration and an evaluation process by the Company and has been recommended by the audit committee of the board of directors of the Company and approved by the board of directors of the Company. The decision to change auditor was not as a result of any disagreement between the Company and PwC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures.

    Marcum Asia is engaged to audit and report on the consolidated financial statements of the Company for the fiscal year ending December 31, 2024. The audit reports issued by PwC on the Company’s consolidated financial statements for the fiscal years ended December 31, 2022 and 2023 did not contain any adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles.

    The Company would like to take this opportunity to express its sincere gratitude to the PwC team for their professionalism and quality of services rendered to the Company over the past years.

    About YXT.com
    As a technology company, YXT.com provides corporations with digital corporate learning solutions, including SaaS platforms, learning content, and other services. YXT.com is a leader and disruptor of the digital corporate learning industry in China. Established in 2011, YXT.com has supported Fortune 500 companies and other leading companies with their transformation and digitalization of learning and development, and has received recognition, respect and recurring business.

    Safe Harbor Statement
    This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to”, or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

    Contact
    Robin Yang
    ICR, LLC
    YXT.IR@icrinc.com
    +1 (646) 405-4883

    The MIL Network –