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  • MIL-OSI Global: Scotland’s approach to special needs education is more inclusive than the rest of the UK – but it doesn’t always work in practice

    Source: The Conversation – UK – By Joan Mowat, Reader in the School of Education, University of Strathclyde

    nimito/Shutterstock

    Across the UK, how children are identified with special educational needs, and how they are then supported, differs according to where they live. There are broad similarities in the approaches in Wales, England and Northern Ireland. But in Scotland things are done differently.

    Northern Ireland, Wales and England define children with learning needs as those who have significantly greater difficulty in learning than their peers.

    Scotland takes a more distinctive approach, using the term “Additional Support Needs” (ASN). A child or young person has ASN if they are unable, without the provision of additional support, to benefit from the school education provided.

    This much broader definition means that there is a wide range of reasons a learner could have ASN. These could be permanent or temporary in nature: they could be, for instance, experiencing family bereavement or bullying. Unsurprisingly, Scotland’s broader definition has meant that it has a significant proportion of learners identified with ASN – 37% in 2023.

    Across a wide range of policy documentation, inclusive education in Scotland is understood broadly to encompass an extensive range of issues, such as addressing discrimination more widely – not just related to disability.

    This is underpinned by a presumption of mainstreaming in Scottish law. This is the assumption that, with the exception of specific circumstances, children identified with additional support needs will be educated in mainstream schools.

    Making inclusivity work

    There is a broad consensus from parents, children, teachers, politicians and others that the Scottish approach to inclusive education is the correct way forward. However, there is significant divergence between policy intent and practice.

    An independent 2020 review investigated how provision for additional support needs worked in practice – and found many failures.

    The review showed that the needs of children and young people for additional support were not being met adequately. There were disconnects between the system’s intentions and what children and young people were actually experiencing.

    The report established that not all children, young people and those who support them flourish or are equally valued within the education system. Their voices are not being heard by those who have the power to make a difference. Service providers and senior leaders in schools experience significant challenges in being able to meet needs, but this is not recognised sufficiently at a higher level.

    A subsequent inquiry, concluded in 2024, found many reasons for this divergence between policy and practice. These included a lack of resources, the need for ongoing professional training for school staff and issues with school culture.

    The inquiry heard that resourcing for Additional Support for Learning had decreased over time. It found that many recently built schools had not been designed to be accessible to all. It heard about the need for school leaders to have training which has equity, inclusion and social justice at its heart to effect the necessary cultural change.

    Learning from practice

    Across the UK and in Ireland, an issue of concern is the lack of a clear definition of what inclusive education means and entails and how it should be implemented in practice. This is reflected in the current crisis in the growing demand for specialist provision.



    Read more:
    There’s a crisis in special educational needs provision: here’s the situation across the UK and Ireland

    A recent review of special educational needs education in England by the National Audit Office has pointed out that mainstream schooling needs to be much more inclusive, that schools are not incentivised to prioritise it, and that the Department of Education should “develop a vision and long-term plan for inclusivity across mainstream education”.

    In Scotland, in contrast to the other nations, greater attention has been devoted to coming to a shared understanding of what an inclusive education system constitutes. This is reflected within the National Framework for Inclusion, the third edition of which was published in 2022. This framework underpins the professional standards for teachers and informs policy more generally.

    The Framework, produced under the auspices of the Scottish Universities Inclusion Group and influenced by the work of inclusive education expert Lani Florian and colleagues on inclusive pedagogy, offers a series of reflective questions to promote inclusive practice. This is indicative of a more consensual and collaborative approach towards educational policy making in general. But it is clear that more work needs to be done to make this understanding of inclusivity a widespread reality in schools.

    The differences in policy approaches to additional support and learning needs mean that the profile of a child identified with special educational needs will vary depending on which country they live in. Furthermore, the variations in the education systems themselves will affect the child’s placement and the support they may receive.

    Collaborative cross-nation work is essential to gain a stronger understanding of the strengths and weaknesses of different approaches to meeting the additional learning needs of children and young people.

    Carmel Conn has received funding from Welsh Government.

    Brahm Norwich and Joan Mowat do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Scotland’s approach to special needs education is more inclusive than the rest of the UK – but it doesn’t always work in practice – https://theconversation.com/scotlands-approach-to-special-needs-education-is-more-inclusive-than-the-rest-of-the-uk-but-it-doesnt-always-work-in-practice-240257

    MIL OSI – Global Reports –

  • MIL-OSI Global: Haiti’s gangs turn to starving children to bolster their ranks

    Source: The Conversation – UK – By Amalendu Misra, Professor of International Politics, Lancaster University

    After months of relentless gang violence, thousands of killings, and the unseating of a government, Haiti is faced with another heartbreaking issue which seems likely to prolong the Caribbean island nation’s woes for another generation. Testimonies collected by Amnesty International have uncovered how Haiti’s armed gangs are enlisting hundreds of children.

    Ana Piquer, Americas director at Amnesty International, says: “We have documented heartbreaking stories of children forced to work for gangs: from running deliveries to gathering information and performing domestic tasks under threats of violence.”

    Boys as young as six are being forced to work as lookouts, made to build street barriers, trained to use machine guns, and are being ordered to participate in kidnappings and other acts of violence. Girls in the possession of gangs are subjected to rape and other forms of sexual violence by older male gang members, according to Piquer.

    Haiti’s 200 or so armed gangs currently control around 90% of the capital city, Port-au-Prince, and large parts of the country are ungovernable. The collapse in law and order has allowed gang leaders such as Jimmy “Barbecue” Chérizier to commit terrible atrocities largely unchallenged.



    Read more:
    Jimmy ‘Barbecue’ Chérizier: the gangster behind the violence in Haiti who may have political aspirations of his own

    The involvement of children in Haiti’s gangs is not exactly new. According to Unicef, between 30% and 50% of children in Haiti are involved with armed groups in some capacity. There are several socioeconomic explanations for this.

    Haiti was once the wealthiest European colony in the Americas – and staged the only ever successful slave rebellion against its French colonial masters before declaring independence in 1804. But modern Haiti is a failed state where more than half of the population now live below the World Bank’s poverty line.

    According to figures published by the International Fund for Agricultural Development, Haiti has the highest prevalence of food insecurity in Latin America and the Caribbean. One-third of the population goes hungry every day.

    Impoverishment and grinding poverty has made the population desperate. With limited options for survival, many children in Haiti are drawn into criminal groups. At times, the promise of a single meal can be enough to attract a child to join a gang.

    That said, the breakdown of order throughout the country has undoubtedly encouraged the gangs to increase their recruitment of children. As with most conflict zones, once indoctrinated, child soldiers make for cheap and deadly combatants.

    There is also one other specific social factor that contributes to some parents turning a blind eye to their children joining the gangs. The prevalence of child recruitment by gangs can be linked to a Haitian socioeconomic practice called restaveks.

    A restavek, which is Creole for “to stay with”, is a child who is given away by impoverished parents with the unwritten understanding that they will be fed, looked after and will not die of hunger. It has become a form of modern-day slavery.

    The End Slavery Now project has found that “more than 300,000 children are victims of domestic slavery” in Haiti today. Many of these children regularly undergo forms of physical and sexual violence.

    A set pattern

    Child sex slavery and sexual abuse are familiar occurrences in societies torn by civil war. It is more likely to take place in settings where the process of governance is weak or non-existent. This situation facilitates conditions of criminal impunity, leading various actors involved in conflict to sexually exploit children.

    There is an established pattern of predatory child sexual slavery in Haiti. Following the devastating earthquake that struck Haiti in 2010 and the ensuing cholera epidemic, some members of the UN peacekeeping force stationed in the country were found to have been running a child sex racket.

    In 2017, an investigation by the Associated Press revealed at least 134 Sri Lankan peacekeepers were involved. It has been documented that girls as young as 11 were sexually abused and impregnated by the peacekeepers, and then subsequently abandoned to raise their children alone. Impoverished and starving Haitian children fell victim to this racket in exchange for scraps of the peacekeepers’ leftover food.

    According to its own admission, the UN peacekeeping force was responsible for “transactional sex” during its operations in the country.



    Read more:
    ‘They put a few coins in your hands to drop a baby in you’ – 265 stories of Haitian children abandoned by UN fathers

    In 2019, the UN secretary general, António Guterres, branded violence against children as a “silent emergency” of our time. Unfortunately, not much is being done to address this challenge, despite the urgency of Guterres’ statement.

    There are many existential challenges facing Haiti. Some of them are homegrown, such as the prevalence of gangs and their terror techniques.

    But, as it is located on a geological fault line in a region susceptible to severe storms, Haiti is particularly prone to natural disasters. A devastating earthquake in 2010 and a cholera epidemic in 2016 debilitated the country, and the knock-on effects will last decades.

    To make matters worse, Haiti also suffers from a compassion deficit. A lack of real engagement from the international community has contributed to the erosion of the Haitian civil society and left the population at the mercy of gang violence.

    Even the Kenyan-led policing mission tasked with restoring order is suffering from inadequate funding and equipment, which has affected its operational capacity. Only around US$400 million (£308 million) of the US$600 million that was originally pledged for the mission has materialised, with the US shouldering a disproportionate financial burden.

    Preoccupied with more high-profile conflicts elsewhere, the international community appears to have little interest in the horrors that are unfolding under the tropical sun in the faraway Caribbean.

    Amalendu Misra is a recipient of British Academy and Nuffield Foundation fellowships.

    – ref. Haiti’s gangs turn to starving children to bolster their ranks – https://theconversation.com/haitis-gangs-turn-to-starving-children-to-bolster-their-ranks-241386

    MIL OSI – Global Reports –

  • MIL-OSI Global: The supernatural beliefs of medieval people – from elves and fairies to abductions and the undead

    Source: The Conversation – UK – By Anne Lawrence-Mathers, Professor in Medieval History, University of Reading

    Medieval people have a reputation for being superstitious – and many of the supernatural phenomena found in the pages of medieval chronicles, miracle stories and romances are still alive in modern culture. Think ghosts, werewolves, demons, vampires, fairies and witches. But while (almost all) people today regard these beings as entirely fictional, many medieval people believed in them.

    Christian theologians accepted the existence of the supernatural, categorising such beings broadly as “fallen angels” who viewed humanity as a battleground in their ongoing conflict with God. Their enormous power meant they could even appear as deities, including the pagan gods and goddesses – they were seen to take on a monstrous appearance mainly when claiming the souls of the damned or being defeated by a Christian leader.

    The smaller and less powerful supernatural creatures known in Old and Middle English as “elves”, however, were seen to have less straightforward explanations.

    Elves, fairies and sirens

    Medieval elves were not usually as powerful as the glamorous beings envisioned centuries later by J.R.R. Tolkien. They merged with demons in some accounts and with fairies in others.

    A siren and a centaur depicted in a bestiary (1278–1300).
    Courtesy of the Getty Open Content Program

    For the 13th-century English priest Layamon, it was elves (alven) who gave King Arthur magical gifts and who, in the form of beautiful women, carried him away to the mythical island of Avalun to heal. However, Layamon was careful to say that this was the belief of “the Britons” (Celtic people), which he was simply recording.

    Fairies first appeared in French-language accounts and quickly blended with other categories of supernatural being. They were apparently more human in appearance than elves, though wings were added later.

    They formed one category of the large group of tempting, supernatural female creatures who lured human men into dangerous relationships. Perhaps most famous is the fairy Melusine, who was strongly linked to water.

    Melusine’s Secret Discovered, from Le Roman de Mélusine (circa 1450).
    National Library of France

    Melusine was half-human, half-serpent and was both beautiful and powerful. She brought prosperity and numerous sons to her human husband, but forbade him to see her at a specified time (Saturdays). When he broke his promise, Melusine’s true form was revealed, and she left forever.

    It is unclear whether the chroniclers and readers who enjoyed such stories entirely believed them, but it seems likely that fairies were considered more real in the middle ages than now.

    Medieval abductions and miracles

    For medieval people, elves, fairies and sirens inhabited the ambiguous territory between fact and fiction. The same may be said of mysterious beings who abducted unsuspecting humans, often women, and carried them off to strange and frightening regions. Those who allegedly reported these experiences believed them to be real, although they were condemned as demonic illusions by moralists.

    Depiction of a miracle from 1531.
    The Book of Miracles

    Being taken high above the Earth is a recurring theme in medieval writing, including tales of witches deliberately flying on the backs of animals. These abduction tales could be compared to modern accounts of alien abductions.

    While tales of abduction by fairies were sometimes dismissed as delusions, stories of saints’ miracles and natural marvels were usually accepted as true. It might be tempting to compare the powers of miracle-working saints with those of modern superheroes – but miracles were considered overt demonstrations of the power of God, whereas superheroes tend to result from scientific or technological extremes.

    A revenant rises from his grave (16th-century facsimile).
    Bavarian State Library, Munich

    A particularly sensational example was recorded in the Life of St Modwenna (an early Irish princess and abbess), written by the abbot Geoffrey of Burton circa 1120-1150. In his account, two tenants of Burton Abbey stirred up a violent feud between the abbot and Count Roger the Poitevin. The troublemakers died suddenly and were buried in haste, but apparently reappeared at sunset carrying their own coffins, before transforming into terrifying animals.

    These revenants (spirits or animated corpses) reportedly brought death to the village – only three people were left alive. When the graves of the runaways were opened, they were found to be bloodstained but intact. A formal apology to the abbey and the saint was followed by ritual dismembering of these corpses and burning of their hearts. This apparently led to the expulsion of an evil spirit and the recovery of the surviving peasants.

    Natural marvels

    “Natural marvels” were medieval phenomena which were accepted as parts of God’s creation, but could not be scientifically explained. Many of the creatures found in bestiaries (medieval encyclopedias of animals both real and mythological) fitted here, such as dragons, unicorns and basilisks.

    Dragons and unicorns remain popular fantasy characters today, but basilisks are less well known – although a giant one once proved a fearsome opponent for Harry Potter. Basilisks were said to be so poisonous that their scent, their fiery breath and even their gaze could kill. They were attested not only by bestiaries but by the Roman philosopher and botanist Pliny in his book Natural History (circa AD77). They were found in the province of Cyrene, in modern Libya.

    A basilisk depicted in a bestiary (circa 1200-1225).
    British Library

    Similarly, different regions of the Earth were characterised by natural marvels recorded in works such as priest and historian Gerald of Wales’s book, The History and Topography of Ireland (1185-88).

    Gerald noted that some readers would find his stories “impossible or ridiculous”, but testified to their accuracy. They included strange islands where no female creature could survive and nobody could die a natural death, as well as strange creatures and humans forced to transform periodically into wolves by the power of St Natalis (an Irish monk and saint).

    Medieval people believed in a wide array of supernatural beings. While today we mostly see them as the stuff of nightmarish fiction, our enthusiasm for this diversity hasn’t waned – just look at the breadth of supernatural costumes on display every Halloween.


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

    – ref. The supernatural beliefs of medieval people – from elves and fairies to abductions and the undead – https://theconversation.com/the-supernatural-beliefs-of-medieval-people-from-elves-and-fairies-to-abductions-and-the-undead-240756

    MIL OSI – Global Reports –

  • MIL-OSI Global: Palestine’s economy teeters on the brink after a year of war and unrelenting destruction

    Source: The Conversation – UK – By Dalia Alazzeh, Lecturer in Accounting and Finance, University of the West of Scotland

    The Palestinian economy has been devastated beyond recognition. Israel’s intense military operations in Gaza have led to unprecedented destruction, wiping out much of the enclave’s essential infrastructure, private property and agricultural resources.

    Meanwhile, the occupied West Bank is also under severe strain. Similar patterns of destruction, alongside rising settler violence, land confiscations and expanding settlements, have left its economy buckling under the pressure of mounting public debt, unemployment and poverty.

    Gaza’s economy was being suffocated even before the war. A blockade imposed by Israel in 2007 has severely restricted the import and export of goods, while fishermen were limited to a six-mile zone, crippling their ability to earn a livelihood.

    The blockade caused Gaza’s GDP per capita (a measure of the wealth of a country) to shrink by 27% between 2006 and 2022, with unemployment rising to 45.3%. This gave rise to a situation where 80% of the population depended on international aid.

    In addition to the economic blockade, Gaza suffered massive physical destruction due to Israeli military operations in 2008–2009, 2012, 2014, 2021 and 2022. Yet the cumulative effects of 16 years of blockade and military attacks are minor compared to the sheer destruction caused by the current war.

    A report by the UN’s trade and development wing (Unctad) has revealed that in the space of just eight months, between October 2023 and May 2024, Gaza’s GDP per capita was fell by more than half. The economic situation now is almost certainly worse.

    According to the report, which was released in September 2024, Gaza’s GDP dropped by 81% in the final quarter of 2023 alone. The report concluded that the war had left Gaza’s economy in “utter ruin”, warning that even if there was an immediate ceasefire and the 2007–2022 growth trend of 0.4% returns, it will take 350 years just to restore the GDP levels of 2022.


    The only sectors still functioning are health and humanitarian services. All other industries, including agriculture, are at a near standstill. The destruction of between 80% and 96% of agricultural assets has led to rampant food insecurity.

    The scale of destruction in Gaza is unprecedented in modern times and is happening under the world’s gaze. From October 2023 to January 2024 alone, the total cost of damage reached approximately US$18.5 billion (£14.2 billion) – equivalent to seven times Gaza’s GDP in 2022.

    A separate report by the UN Development Programme, which was published in May, predicts that it will take more than 80 years to rebuild just Gaza’s housing stock if it repeats the rate of restructuring seen after Israeli military operations in 2014 and 2021. Merely clearing the debris could take up to 14 years.

    The war has displaced almost all of Gaza’s population, and has thrown people into dire poverty. Unemployment surged to 80%, leaving most households without any source of income. And prices of basic commodities have increased by 250%, which is contributing to famine across the Strip.

    The Gaza Strip is in ruins after more than a year of relentless bombardment.
    Anas-Mohammed / Shutterstock

    The economic crisis has also extended to the West Bank, where GDP has fallen sharply. Military checkpoints, cement blocks and iron gates at the entrances to Palestinian towns and cities, as well as the denial of work permits for Palestinians in Israeli settlements, have resulted in more than 300,000 job losses since the start of the war.

    The Unctad report reveals that the rate of unemployment in the West Bank has tripled to 32% since the start of the conflict, with labour income losses amounting to US$25.5 million. Poverty is rising rapidly.

    Israeli forces have also continued to confiscate Palestinian homes and land. Over the past year alone, 24,000 acres of land in the West Bank have been seized, and over 2,000 Palestinians have been displaced.

    This devastation has been exacerbated by Israel’s decision to withhold the tax revenue it collects for the Palestinian Authority, which typically accounts for between 60% and 65% of the Palestinian public budget, as well as a significant decline in international aid. Aid to Palestine has dropped drastically over the past decade or so, falling from the equivalent of US$2 billion in 2008 to just US$358 million by 2023.

    The Palestinian Authority is facing a massive budget deficit, which is projected to increase by 172% in 2024 compared to the previous year. This financial strain has crippled the Palestinian government’s ability to provide essential services, pay salaries and meet the needs of a population battered by war, displacement and severe poverty.

    The road to recovery

    For the Palestinian economy to have any chance at recovery, several immediate steps are necessary.

    First, international aid should flow into Gaza uninterrupted, and pressure must be applied to ensure that humanitarian aid – particularly food aid – reaches those in need. Data analysis by organisations working in Gaza suggests that Israel is currently blocking 83% of food aid from reaching Gaza.

    Second, the destruction of homes, schools and infrastructure must cease. However, this seems improbable as Israel continues to pursue its military goal of destroying Hamas – an objective most analysts believe to be unachievable.

    And third, the economic restrictions imposed on Gaza and the West Bank must be lifted. Sustainable development – and any prospect for recovery – cannot be achieved without granting the Palestinian people the right to self-determination and sovereignty over their resources.

    This would require new peace agreements, an outcome that appears unlikely at present. But without these crucial interventions, the Palestinian economy will be completely devastated and the humanitarian crisis will worsen, making any future recovery within the lifetime of anyone currently living in Gaza virtually impossible to imagine.

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Palestine’s economy teeters on the brink after a year of war and unrelenting destruction – https://theconversation.com/palestines-economy-teeters-on-the-brink-after-a-year-of-war-and-unrelenting-destruction-241607

    MIL OSI – Global Reports –

  • MIL-OSI Global: How language barriers influence global climate literacy

    Source: The Conversation – UK – By Mario Saraceni, Associate Professor in English Language and Linguistics, University of Portsmouth

    Creativa Images/Shutterstock

    Our planet is getting hotter at an alarming rate. Climate change is one of the most serious global issues today. Its consequences affect every single human being on Earth. So it seems perfectly logical that scientific publications about global warming are written in the global language: English.

    And yet, it is precisely because it is written in English, that climate science is largely inaccessible to the majority of people globally.

    To explain this apparent contradiction, we need to look at some numbers. Nearly 90% of scientific publications globally are in English. This is a staggering dominance of just one language. But English, often called a global language, is only spoken by a minority of the world’s population.



    Read more:
    Indigenous languages must feature more in science communication

    How do we know that most people in the world don’t speak English? English the main language of society in only a handful of countries: the UK, Ireland, the US, Canada, Australia and New Zealand. The population of these countries, combined, amounts to about 400 million – a very small percentage of the world’s population.

    In many other former British colonies, such as India, Nigeria or Malaysia, English exists alongside other languages. In these contexts English tends to be an elite language, used mostly by urban, middle-class, well-educated people. Elsewhere, English functions as a lingua franca, used mostly in transnational communication.

    Given these diverse scenarios, it is extremely difficult to estimate the number of speakers of English with any precision. About 20 years ago, linguist David Crystal suggested that the number may be somewhere between 1 and 2 billion. Even if we take the upper limit of that extremely large range, we’re talking about only one quarter of the world’s population. This means that three out of four people in the world do not speak English.



    Read more:
    Italian government wants to stop businesses using English – here’s why it’s the lingua franca of firms around the world

    That means at least three quarters of the world’s population do not speak the language in which the science about climate change is disseminated globally. At the same time, languages other than English are marginalised and struggle to find space in the global communication of science.

    So this linguistic inequality creates an imbalance in the distribution of scientific knowledge about climate change. But it also reinforces two other types of existing inequality.

    One has to do with the production of scientific knowledge in general, which is disproportionately emanating from the two main Anglophone countries: the US and the UK. Out of the top 100 scientific journals for impact and prestige, 91 are based in these two countries.

    Out of 100 top scientific journals, 91 are published in the UK and the US.
    Sergei25/Shutterstock

    The other form of inequality has to do with social injustice. Scientific literature is almost exclusively written in English. But this language is virtually unknown by most people, especially in developing countries. And so, societies who suffer more from climate change are precisely those where access to scientific literature about it is severely limited.

    What is the solution? Unesco’s Open Science initiative, is attempting to tackle the problem. It aims to “make scientific research from all fields accessible to everyone for the benefits of scientists and society as a whole”. One of its objectives is to “ensure that scientific collaborations transcend the boundaries of geography, language and resources”.

    Breaking language barriers

    Achieving the objectives set by Open Science is no easy task. One approach is to break the barrier of English monolingualism by promoting multilingualism.

    On the one hand, opportunities must be created for scientists from around the world to communicate their research and their scholarship in languages other than English.

    On the other, the great technological advancement made in machine translation, especially with the advent of AI, should be put to use in order to ensure that content is available in languages other than English. This is precisely the goal of Climate Cardinals, a non-profit organisation whose mission is to “make the climate movement more accessible to those who don’t speak English” by translating information into more than 100 languages.

    These kinds of concrete efforts offer hope for climate literacy and, consequently, for action to lessen the impact of climate change.

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

    – ref. How language barriers influence global climate literacy – https://theconversation.com/how-language-barriers-influence-global-climate-literacy-241867

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Astra Awards Celebrate Grassroots Innovation23 Oct 2024

    Source: United Kingdom – Royal Air Force

    The Astra Awards celebrated innovation, challenge, and improvement across the RAF at the RAF Museum in London on 17 October 2024.

    Astra is the RAF’s approach to grassroots innovation, which encompasses bureaucracy challenge and continuous improvement. The Astra Awards recognise some of the most inspirational people, ingenious ideas, and the incredible impact they’ve had on our operational output.

    Award Winners

    Astra Unit Award, sponsored by Fujitsu

    Winner: RAF Lossiemouth

    RAF Lossiemouth showcases the future of the Astra Network at a unit level. Enthusiastically grasping the direction to refocus Astra onto grassroots innovation, the team have already made a significant impact on the innovative mindset across the station. Proactively upskilling the existing Continuous Improvement personnel in unfamiliar areas such as additive manufacturing, computer-aided design, and virtual reality, the small team are already proving highly effective in all aspects of grassroots innovation. Positively impacting on people and the operational output across the unit, they are making best use of every asset and opportunity provided to them. To support their work, the team have created an exciting and engaging Astra Hub; a collaborative, innovative space that will allow the whole force to continue to deliver substantial benefits to RAF Lossiemouth and the RAF.

    Astra Innovation Award, sponsored by PA Consulting

    Winner: Project I2T

    Project IMMERSIVE INSTRUCTOR TRAINING, known as I2T, is designed to enhance the delivery of training to Qualified Helicopter Instructors and Qualified Helicopter Crewman Instructors. Significantly modernising the outdated system, the project delivers training using immersive 360-degree video courseware accessed via virtual reality headsets. Developed by Flt Lt Rich Keeling and Dr Jon Allsop at the Central Flying School, it is being implemented by RAF Shawbury to great effect. It is proving to complement the existing training programme and allows instructors to gain skills through repeatable virtual scenarios and error analysis. It bridges the gap between theoretical and real-world flying in a sustainable manner and helps to ensure effective instructors for future helicopter aircrew.

    Astra Challenge Award, sponsored by Boxxe

    Winner: Sergeant Becky Livesey

    Consistently championing change for the benefit of our whole force, Becky has been a driving force behind a challenge to amend outdated policy to support hundreds of individuals with shared parental responsibility. The previous policy only allowed leave to be shared between serving spouses, which did not reflect the changing nature of families and led to personal difficulties and an unstable environment for the children of Service personnel. Her challenge highlighted the negative impact of the policy and was integral to bringing about a significant change. The updated policy now allows leave to be transferred between serving personnel in all three Services who both have parental responsibility for a child, enabling them to use it for childcare purposes. The resulting increase in stability for Service children and the home environment cannot be underestimated, nor can its impact on retention and morale for our people.

    Astra Improvement Award, sponsored by QinetiQ

    Winner: RAF Brize Norton Air Mobility Force Dispatch Optimisation

    The consolidation of key enablers into a centralised dispatch centre at RAF Brize Norton has greatly enhanced communication, professional relationships, and overall efficiency, saving over 15 minutes for every flight from the busy main operating base. The relocation of the Meteorological Office, Jet Plans, and MSC has reduced unnecessary movement and transportation waste, streamlining workflow. The elimination of ‘nav bags’ and the centralisation of Electronic Flight Bags further minimised motion waste. Additionally, process duplication has been removed, reducing rework, and allowing crews to plan without interruption. Crews also save a further 6-8 minutes by no longer needing to visit Load Control, and aircrew now book transport directly, reducing delays. The project has delivered efficiencies for all stakeholders throughout the process.

    Astra Contribution to Operations Award, sponsored by the RAF

    Winner: F-35 Detachment Toolkit

    Recognising the need for rapid deployability in support of ACE, the RAF Marham team developed and delivered a deployable toolkit in support of the F-35 fleet. Employing Lean Six Sigma analysis and modelling high level tool usage across the fleet, they identified the full requirements to ensure the project would deliver a successful product. The team repurposed tools and test equipment from redundant issue centres, obtained funding for a laser etching machine, and procured mobile support units. Owing to their efforts, the F-35 now has a deployable tool capability that was used for the first time in the Iceland Air Policing operation. The capability has increased the potential operational output of the fleet, allowing it to operate effectively in two different locations with minimal impact to the flying programme.

    Astra Ambassador Award, sponsored by the RAF

    Winner: Chief Technician Martyn Sullivan

    Martyn has consistently demonstrated and embodied innovation, challenge, and improvement. His passion for making RAF Coningsby better through well-structured and benefit-led projects has ensured his small team have delivered a positive and lasting impact at unit level. Their demonstrable output adds value across the board. Alongside his commitment to RAF Coningsby, he actively collaborates with the whole force across the RAF, sharing his knowledge and experience and encouraging others to develop their innovative mindset. He created, organised, and delivered courses that developed an internal grassroots innovation network that spans all professions and sections. Furthermore, his exceptional work with industry partners such as BAE Systems has delivered projects that have improved and enhanced the operational output of the Typhoon fleet at both Coningsby and Lossiemouth.

    Spirit of Innovation Award, sponsored by BAE Systems

    Winner: Chief Technician Neil Hunt

    Wing Commander Williamson collected the award on behalf of Chief Technician Hunt. It will be formally presented on unit.

    Neil has shown significant determination and commitment to improvement. After identifying issues with the transportation of F-35 canopies across unit, Neil, alongside Sgt Richard James, developed the F-35 Canopy Transportation Trolley project, which has now been brought into service at RAF Marham. The innovative improvement project has already saved Defence over £600k. Continuing to engage with the Astra improvement process, Neil has submitted a further 13 ideas over the past two years. This includes the F-35 Ejection Seat Transportation Solution, which has once again delivered an effective solution that has delivered significant benefits, saving Defence £1.75m in the first 3 months by removing potential for damage and increasing resource efficiency.

    Neil’s award was collected by Wg Cdr Williamson on his behalf and will be handed over formally on unit.

    Astra Rising Star Award, sponsored by Frazer-Nash Consultancy

    Winner: Elizabeth Garvin

    Beth is new to the Civil Service and the RAF whole force as the Continuous Improvement Facilitator at RAF St Mawgan, who has taken on the role of Astra Ambassador as well as CI Lead. Always keen to learn, she proactively approached the Headquarters CI Team to secure a place on the Lean Six Sigma training course to further develop her skills. Since completing the course, she has rapidly applied her newfound knowledge and skills to delivering improvements across the unit. She has embraced the Astra ethos and amalgamated innovation, challenge, and improvement across all functional areas on unit, developing a growing innovative mindset and culture. Her creation of a regular drumbeat of collaboration opportunities, where she shares insight into activity in other areas, is already proving popular and igniting ideas in others from every area across the unit. Beth epitomises the values and intentions of Astra and grassroots innovation in the RAF whole force.

    Astra People’s Choice Award, sponsored by Babcock

    Winner: D-State Proforma

    Using the tools and techniques of Continuous Improvement, a full review and redesign of the State Demand form at RAF Coningsby was undertaken. The inefficient process saw at least 12 versions of the same form used on unit, with a significant administrative burden for all involved in submitting the 6000+ forms a year. The process was reviewed end-to-end and redesigned to remove unnecessary steps. Considering the needs of all stakeholders, it has simplified the communication flow and established an effective feedback loop. The project has significantly reduced the rejection rate for state demand forms and the potential misallocation of engineering spares. The redesigned form has also saved over 1600 hours per year just at RAF Coningsby and has also been used repeatedly and proven highly successful in the UK and on Op SHADER.

    Astra Team Award, sponsored by Leonardo

    Winner: Ailidh Leather

    Ailidh Leather has been the lead for Project POST ROOM at RAF Cosford, which uses scanning technology to significantly enhance the experience of the Post Room staff and the hundreds of recipients on station. Several years ago, Ailidh identified how technology could transform how mail is processed. With increasing amounts of parcels due to online shopping and inefficient handwritten ledgers, the post room was being swamped with mail leading to long delays in items reaching their intended recipient. Her persistence, determination, and forward thinking have ensured that the project has reached the position it is in today despite numerous setbacks. Through her tenacity, the project is making a real difference to the lives of personnel at Cosford, with potential to be rolled out wider across the RAF.

    Chief of the Air Staff’s Award, sponsored by Astra

    Winner: Air Specialist Class 1 Ross McGrory

    Ross played a pivotal role in Project GAIA, seamlessly transforming it into a Digital Shadow for a deployed medical centre by connecting multiple devices to a central hub. Proactively learning a new programming language, and dedicating a significant amount of his personal time, he developed a working product that provides a critical capability – 24/7 monitoring for emergency medical items such as blood supplies. Ross’s innovative mindset and skillset ensured that the complex system could easily be used by non-technical staff, which is not an easy task. Additionally, as second in command of RAF Leeming‘s Makerspace, which is an integral part of the Astra Hub, he expanded user engagement. He swiftly solved a persistent station issue in just 4 hours, highlighting his technical expertise and commitment to innovation.

    Hundreds gathered in Sunderland Hall at the RAF Museum for an evening of reward and recognition, showcasing grassroots innovation and sharing ideas. Grassroots innovation activities from the whole force were on display to ignite the innovative mindset of our people and encourage collaboration to bring meaningful change.

    Personnel from across the whole force were joined by international allies from the United States Air Force (USAF), Royal Australian Air Force, and Royal Canadian Air Force. Members of the USAF currently based in the UK also joined RAF personnel in demonstrating grassroots innovation projects in their area. The USAF’s AFWERX team are working closely with the RAF’s Astra Team to encourage collaboration on common problem sets, with the first joint grassroots innovation projects already being planned.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: InsideAIR podcast episode 102: From flyer to fighter29 Oct 2024

    Source: United Kingdom – Royal Air Force

    Head of Flying Training for the Royal Navy, Army and RAF, Air Commodore Rob Caine’s job is to get as many aircrew as possible through flying training to the front line.

    He told Squadron Leader Peter Lisney of InsideAIR, how the system has been changing and how augmented reality and psychological skills training are now both playing a part in producing the UK’s next front line pilots.

    Listen to more episodes of Inside AIR.

    InsideAIR is produced for the Royal Air Force by RAF Media Reserves. Theme music by RAF Music Services.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: RAF 60 Second UpdateWe’re celebrating our people in the latest RAF 60 Second Update, from the RAF Astra Awards.23 Oct 2024

    Source: United Kingdom – Royal Air Force

    We’re celebrating our people in the latest RAF 60 Second Update, from the RAF Astra Awards.

    In this episode:

    • The RAF Astra Awards recognise the fantastic people and projects that have contributed to grassroots innovation across the RAF in the last year.
    • The UK is the first nation to fly nearly the full length of NATO’s Eastern Flank with a Rivet Joint.
    • The first cohort of high potential aviators graduate from the new RAF LEAD development programme.

    Thanks for watching and see you next time!

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Air Vice-Marshal Suraya Marshall visits Exercise Strike WarriorAir Vice-Marshal Suraya Marshall, Assistant Chief of the Air Staff, visited HMS Prince of Wales whilst it was taking part in Exercise Strike Warrior off the coast of the United Kingdom.23 Oct 2024

    Source: United Kingdom – Royal Air Force

    Air Vice-Marshal Suraya Marshall, Assistant Chief of the Air Staff, visited HMS Prince of Wales whilst it was taking part in Exercise Strike Warrior off the coast of the United Kingdom.

    Arriving by Royal Navy Mk4 Merlin aircraft, she witnessed an F-35B Lightning launch and had a tour of HMS Prince of Wales’ key areas.

    Exercise Strike Warrior serves as a crucial test of the Carrier Strike Group’s readiness and effectiveness in a variety of complex combat scenarios. F-35B Lightnings from 617 Squadron have been taking part, joining 809 Naval Air Squadron and assisting the Royal Navy in conducting maritime operations, in addition to Typhoons from IX(B) and 1(F) Squadrons from RAF Lossiemouth.​

    Typhoon and F-35B Lightning aircraft form the backbone of UK Combat Air, together forming an interoperable, complimentary, and extremely potent force mix that offers persistence and a mass of sensors and weapons. This is especially important in the face of an advancing and proliferating threat.​

    The F-35B Lightning is a 5th generation, swing-role combat aircraft. This means it can perform the roles and missions of different aircraft types simultaneously. Equipped with advanced sensors, mission systems and low observable stealth technology, hostile radar systems cannot easily detect the aircraft, giving those nations operating the F-35 a significant tactical advantage in many operational scenarios​.

    F-35B Lightning are held at high readiness to deploy in support of UK and NATO operations Worldwide – from both land and sea.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: RAF provide Lebanon’s Armed Forces with supplies25 Oct 2024

    Source: United Kingdom – Royal Air Force

    The RAF has delivered more than 12,500 ration packs and 79 battlefield medical kits to the Lebanese Armed Forces.

    This package of medical supplies and provisions are funded by the UK’s Integrated Security Fund and will help support the Lebanese Armed Forces (LAF).

    As the only legitimate military force of the Lebanese state, investing in the Lebanese Armed Forces is essential to the future security and stability of Lebanon, and the wider region.

    For more than a decade, the UK has given critical support to the Lebanese Armed Forces as a trusted partner, through training, mentoring and the provision of equipment. Since 2009, the UK has trained over 34,000 Lebanese Armed Forces personnel and dedicated over £106 million in funding including the gifting of over 300 Land rovers. The UK has also helped to construct nearly 80 Border Observation posts and Forward Operating Bases as part of our efforts to support Lebanese border security.

    The Prime Minister, Foreign Secretary, and Defence Secretary continue to call for an immediate ceasefire in the region to allow space for a political solution. The FCDO advises all British nationals should leave Lebanon immediately and have arranged several charter flights from Lebanon in recent weeks to support this.

    Today’s delivery of supplies from the RAF is in direct response to a request from the Lebanese Armed Forces. We have supported the Lebanese Armed Forces for more than a decade. They are essential to ensuring that the foundations are present for peace in the region. Our support for Lebanese Armed Forces is part of how we aim to reinforce regional security and stability. We continue to work closely with our partners and allies in calling for an immediate ceasefire.

    John Healey
    Defence Secretary

    This package of UK support demonstrates our ongoing commitment to Lebanon’s only legitimate armed forces, forces essential for stability and security of the state and wider region. We continue to call for an immediate ceasefire between Lebanese Hizballah and Israel and a political plan consistent with UN Security Council Resolution 1701. That is the only way to restore security and stability for the people living on both sides of the border.

    David Lammy
    Foreign Secretary

    In October 2024, as a direct response to the mass displacement of people and growing number of civilian casualties, the UK boosted its humanitarian support for Lebanon with a further £10 million. The announcement follows the £5 million humanitarian package delivered through UNICEF to support access to clean water and sanitation, health, and nutrition supplies. The UK has also agreed to match public donations to the DEC Middle East Humanitarian Appeal of up to £10 million.

    The UK government is completely committed to peace in the Middle East and continues to call for de-escalation in the region after being the first nation in the G7 to do so. A ceasefire would pave the way for civilians on both sides of the border to return to their homes.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Comedian Adam Rowe set to perform stand-up show at city museum

    Source: City of Stoke-on-Trent

    Published: Tuesday, 29th October 2024

    Award-winning comedian Adam Rowe is putting on an intimate stand-up show in Stoke-on-Trent.

    The edgy comedian, who is best known for hosting the ‘Have a Word’ podcast, is taking to the stage at the Potteries Museum & Art Gallery in Hanley next month.

    The show follows the city’s first, and extremely successful, two-day Comedy Festival in May when Stoke-on-Trent City Council teamed-up with Me and Mrs Jones Comedy to bring a host of popular comedians to the city.

    Since making his debut in 2010 at just 18 years old, Adam has regularly appeared at the UK’s biggest comedy clubs and festivals. He won ‘funniest joke’ at the Edinburgh Fringe Festival in 2018 and has featured on various television shows including Live at the Apollo, Roast Battle and The Stand-up Sketch Show.

    Now, straight off the back his latest sell-out tour, the Liverpool-born comedian will be entertaining crowds at the museum’s 300-seat forum theatre on Friday 1 November.

    Councillor Jane Ashworth, leader of Stoke-on-Trent City Council, said: “The Comedy Festival we hosted earlier this year was incredibly successful. It was the first time we’d done anything like it before and we had some great feedback from visitors and the comedians themselves, who said they really enjoyed performing at the forum theatre.

    “We host some great events at the Potteries Museum & Art Gallery all year round but we have been really keen to put another comedy night on, so I’m glad we’ve managed to secure Adam Rowe. From what I’ve seen from him he is a very relatable person so I’m sure this latest show will be really good.”

    Tickets for An Evening With Adam Rowe are now available. They cost £18.50 each and are available for over 18’s only.  Doors open at 6pm for a 7pm start.

    To book your ticket, visit https://www.ticketsource.co.uk/Me-and-Mrs-Jones-comedy/t-eamkjgv

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Dmitry Patrushev: Roshydromet, as the main coordinating agency in its field, is among the top five services in the world

    Translation. Region: Russian Federation –

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

    Dmitry Patrushev at the opening of the Eighth All-Russian United Meteorological and Hydrological Congress

    October 29, 2024

    Dmitry Patrushev at the opening of the Eighth All-Russian United Meteorological and Hydrological Congress

    October 29, 2024

    Dmitry Patrushev at the opening of the Eighth All-Russian United Meteorological and Hydrological Congress

    October 29, 2024

    Previous news Next news

    Dmitry Patrushev at the opening of the Eighth All-Russian United Meteorological and Hydrological Congress

    This was stated by Deputy Prime Minister Dmitry Patrushev during the opening of the VIII All-Russian United Meteorological and Hydrological Congress in St. Petersburg, dedicated to the 190th anniversary of the founding of the Russian Hydrometeorological Service. This year, specialists from two industry areas – hydrology and meteorology – gathered at one venue for the first time. The central theme of the event was the feasibility of developing a new strategy for the activities of hydrometeorology and related areas.

    Dmitry Patrushev noted that the sphere has come a long way almost two centuries long. All this time, the tools and methods of work have been improved. And today, of course, there are already significant results and reasons for pride.

    “Roshydromet, as the main coordinating agency in its field, is one of the top five services in the world. Nevertheless, work should continue in all key areas. In particular, the Strategy for Activities in the Field of Hydrometeorology until 2030 is currently being implemented. However, given the new tasks set by the President, I believe that it is necessary to think in advance about updating the document in the planning horizon until 2036,” the Deputy Prime Minister said.

    According to the Deputy Prime Minister, first of all, it is necessary to improve the quality of forecasts and, in particular, increase the efficiency of emergency prevention. The uninterrupted functioning of a number of industries depends on this: the agro-industrial, fisheries and forestry complexes, the construction sector, energy and transport. But the main thing, of course, is the safety of people.

    This requires further modernization of the state observation network, which is the main source of information. The government, for its part, is working on the possibility of allocating additional funding for this. Dmitry Patrushev emphasized that the integration of new regions of Russia into the national observation network system must be completed by 2030. 8 billion rubles are allocated for this.

    Speaking about strategic tasks, the Deputy Prime Minister recalled that in accordance with the Presidential Decree on national development goals, the volume of harmful emissions in cities with the highest levels of air pollution should be halved. The relevant measures are aimed at this. At the same time, to assess their results, it is necessary to create a comprehensive system for analyzing the quality of the environment. Work is already underway within the framework of the national project “Ecology”. In 12 cities that became the first participants in the federal project “Clean Air”, the monitoring network has been completely modernized.

    In addition, infrastructure is being updated in populated areas near Lake Baikal. In the future, measures are also envisaged in the new national project “Ecological Well-Being”. In the future, the system of comprehensive air pollution monitoring should cover the entire territory of our country.

    Dmitry Patrushev also spoke about the work organized in the Arctic and Antarctic. Russia is implementing unique projects there that have no analogues in the world. This includes the ice-resistant platform “North Pole” and the new complex “Vostok” in Antarctica, which was put into operation in 2024. They allow expanding the geography of scientific research, using the most advanced technologies even in harsh polar conditions.

    The Deputy Prime Minister said that the renewal of the research fleet will definitely continue. Thus, in the coming years, the expedition vessel Ivan Frolov, which was laid down at the Admiralty Shipyards, will join it.

    As the Deputy Prime Minister noted, one of the most important areas of work of the hydrometeorological service is the analysis and forecasting of climate processes. A system for monitoring climate-active substances in the atmosphere is being created in Russia. Its full launch is expected by 2030. This will ensure a larger-scale collection and processing of data for an objective assessment of the state of the atmosphere and the Earth’s surface. The information obtained will be used in the implementation of measures aimed at adapting the economy to natural changes, including low-carbon transformation.

    In general, further updating of computing capacities and expansion of the scale of space monitoring are required to improve the efficiency of work. Within the framework of the Federal Space Program, the launch of several satellites at once is planned in the interests of Roshydromet.

    “You are facing very serious tasks. For our part, we are trying to do everything possible to improve the working conditions of specialists. This concerns not only the material and technical base, but also wages. On the instructions of the President, an additional 24 billion rubles will be allocated in the coming years to increase the wages of Roshydromet employees,” Dmitry Patrushev summed up.

    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 Canada: Health System Impact Fellows work to bring changes to our health systems

    Source: Government of Canada News (2)

    News release

    45 highly skilled researchers join health system organizations to help address pressing priorities and improve care for people in Canada

    October 29, 2024 | Ottawa, Ontario | Canadian Institutes of Health Research

    Canadians deserve access to high-quality health care. To achieve this, improvements often begin with research that examines how health care services are organized, regulated, managed, financed, and delivered.

    Today, the Honorable Mark Holland, Minister of Health, announced an investment of over $4.3M to help transform Canada’s health systems through the Health System Impact Program. This funding comes from the Canadian Institutes of Health Research (CIHR) and partners, Michael Smith Health Research BC and the Fonds de recherche du Québec – Santé.

    The Health System Impact Program focuses on health system transformation to ensure that people in Canada have access to the highest quality care. Through this initiative, PhD trainees, postdoctoral researchers and early-career researchers will collaborate with health organizations across the country to lead projects aimed at generating evidence to improve Canada’s health systems, services and policies. For the 2024 cycle, CIHR is supporting 25 PhD trainees and 20 postdoctoral researchers who are embedded in 34 health organizations and connected to 19 universities across Canada.

    These researchers will address a variety of critical health system issues, including optimizing primary health care, improving quality in long-term care homes, supporting the health workforce, advancing equity in cancer care, leveraging digital health opportunities, predicting antimicrobial resistance using machine learning, mitigating the health impacts of climate change, ensuring cultural safety in health care, enhancing mental health services, and more.

    Quotes

    “I would like to congratulate the 2024 cohort of CIHR Health System Impact Fellows. It’s so exciting to see these future research leaders join health system organizations to help tackle pressing priorities and improve care for Canadians. Their dedication to evidence-informed health system improvement and improving access to care for all people in Canada is inspiring, and their skills will contribute to real-world solutions and stronger health systems.”

    The Honourable Mark Holland
    Minister of Health

    “Each year, the contributions of Health System Impact Fellows invigorate our health systems with fresh insights and innovative solutions. It’s inspiring to see our next generation of health researchers thrive in this dynamic environment. They are not just advancing Learning Health Systems; they are helping to reshape the future of health care in Canada, ensuring it is more responsive, equitable, and driven by evidence.”

    Dr. Tammy Clifford
    Acting President, Canadian Institutes of Health Research

    “Our long-standing partnership with CIHR on this fellowship is supporting researchers and strengthening evidence-informed policy throughout BC. The program equips PhD trainees and postdoctoral researchers to translate research into practice and drive positive outcomes in health care environments. That’s an important outcome — building both research and health system capacity.”

    Dr. Bev Holmes
    President & CEO, Michael Smith Health Research BC

    Quick facts

    • CIHR’s Health System Impact program began in 2017 and to date, 328 fellows (111 PhD trainees and 217 postdoctoral researchers) and 12 early-career researchers have been or are currently embedded within 139 health system organizations and connected to 25 universities.  

    • Through this program, fellows receive unparalleled mentorship from senior decision-makers from health system organizations and academic experts from across the country.

    • The Health System Impact program is led by the CIHR Institute of Health Services and Policy Research.

    Associated links

    Contacts

    Matthew Kronberg
    Press Secretary
    Office of the Honourable Mark Holland
    Minister of Health
    343-552-5654

    Media Relations
    Canadian Institutes of Health Research
    mediarelations@cihr-irsc.gc.ca

    At the Canadian Institutes of Health Research (CIHR) we know that research has the power to change lives. As Canada’s health research investment agency, we collaborate with partners and researchers to support the discoveries and innovations that improve our health and strengthen our health care system.

    MIL OSI Canada News –

  • MIL-OSI Canada: Scott Shortliffe to the Standing Senate Committee on Transport and Communications

    Source: Government of Canada News

    For our part, the CRTC imposes requirements that help CBC/Radio-Canada meet its mandate in both official languages, across all its services. The CRTC renewed CBC/Radio-Canada’s broadcasting licence in July 2022 and modified some of its requirements.

    Ottawa, Ontario
    October 29, 2024

    Scott Shortliffe, Executive Director, Broadcasting
    Canadian Radio-television and Telecommunications Commission (CRTC)

    Check against delivery

    Good morning and thank you for inviting us to appear before your committee.

    Before I begin, I would like to thank the Algonquin Anishnaabeg people for having me here as a guest on their unceded, unsurrendered territory. I would also like to thank the Anishnaabeg people for being stewards of the land and waters in this area since time immemorial.

    I am joined today by my colleague Michael Craig, Director of Television Programming.

    As you know, the CRTC is an independent, quasi-judicial tribunal that regulates the Canadian communications sector in the public interest. The CRTC holds public consultations on telecommunications and broadcasting matters and makes decisions based on the public record.

    On the broadcasting side, we are implementing the Online Streaming Act and modernizing Canada’s broadcasting framework. This is in addition to our ongoing work in broadcasting, which includes issuing licences and determining the conditions of service under which broadcasters are allowed to operate in Canada. One of those broadcasters, of course, is the Canadian Broadcasting Corporation, or CBC/Radio-Canada, whose programming is the subject of today’s meeting.

    For our part, the CRTC imposes requirements that help CBC/Radio-Canada meet its mandate in both official languages, across all its services. The CRTC renewed CBC/Radio-Canada’s broadcasting licence in July 2022 and modified some of its requirements.

    The CRTC imposed enhanced reporting requirements on CBC/Radio-Canada to allow stakeholders to assess its performance in meeting its mandate, in particular for Indigenous peoples, racialized persons, the 2SLGBTQI+ community, and others. At the same time, the CRTC removed some of the requirements where CBC/Radio-Canada had routinely exceeded those requirements, such as those on independent production. To ensure compliance, we receive detailed annual reports from CBC/Radio-Canada on different aspects of its licences, in addition to other reporting requirements.

    In September 2022, the Governor in Council directed the CRTC to reconsider certain aspects of CBC/Radio-Canada’s licence conditions. This was after petitions were filed by stakeholders raising concerns about some of the conditions. Specifically, the Governor in Council asked how the CRTC would ensure that CBC/Radio-Canada would continue to make a significant contribution to local news, children’s programming, original French-language programming and independent programming.

    Following the referral back, Parliament passed the Online Streaming Act. We are currently reviewing those elements of the licence touched on by the reconsideration, while also examining how the Online Streaming Act can help us ensure that these elements are addressed. We are continuing to monitor CBC/Radio-Canada’s activities through its annual reporting. Currently, these activities meet or exceed the CBC/Radio-Canada requirements.

    While the review process is ongoing, let me assure the Committee that the CRTC prioritizes the issues connected to CBC programming that you are studying, especially the availability of local and regional radio, television, and online services. The availability of local content is a key priority of our work in implementing the Online Streaming Act.

    The changes that are needed to the broadcasting framework are substantial and complex. There are many interconnected issues to be addressed. That’s why we are consulting widely while also moving quickly.

    In June, we released a major decision that will require online streaming services to make a base contribution to Canadian broadcasting. That funding will go to funds that have a proven track record of successfully supporting regional and local news, independent and emerging artists, and other areas of immediate need.

    Additionally, we will soon be launching public consultations on issues of importance to Canadians, such as providing more flexibility to traditional radio broadcasters by updating regulatory requirements, and updating the definition of Canadian content for the audiovisual sector. We will also have proceedings considering the relationships between small, medium and large players in the traditional broadcasting system, including online streaming companies, as well as looking at radio and audio streaming in Canada, including how to define audio content and how to support Canadian music.

    We look forward to hearing from Canadians on these issues.

    We have also prioritized our work around the Online New Act, noting that it will provide help to news organizations across Canada, including CBC/Radio-Canada. Just yesterday, we issued a decision on Google’s exemption request, clearing the way for it to provide funding to the Canadian Journalism Collective to be distributed to Canadian news organizations.

    Thank you again for the opportunity to appear today. The CRTC is focused on what Canadians need from their broadcasters and broadcasting system.

    Thank you.

    MIL OSI Canada News –

  • MIL-OSI USA: South Africa Country Analysis Brief

    Source: US Energy Information Administration

    Petroleum & Other Liquids

    Crude oil, gasoline, heating oil, diesel, propane, and other liquids including biofuels and natural gas liquids.

    Natural Gas

    Exploration and reserves, storage, imports and exports, production, prices, sales.

    Electricity

    Sales, revenue and prices, power plants, fuel use, stocks, generation, trade, demand & emissions.

    Coal

    Reserves, production, prices, employment and productivity, distribution, stocks, imports and exports.

    Total Energy

    Comprehensive data summaries, comparisons, analysis, and projections integrated across all energy sources.

    MIL OSI USA News –

  • MIL-OSI USA: From Policy to Action: Anna-Michelle McSorley Focuses on Health Equity for Latinos

    Source: US State of Connecticut

    Anna-Michelle McSorley, assistant professor of allied health sciences, joined the faculty of the College of Agriculture, Health and Natural Resources (CAHNR) this fall. Her work focuses on addressing health inequities related to policies and data collection for Latinos, particularly Puerto Ricans.

    “I’m well-situated at UConn to engage with the very population that is migrating from that territorial context into the state of Connecticut,” McSorley says.

    According to the most recent U.S. Census data, 18.6% of Connecticut’s population is Hispanic or Latino, equating to more than 670,000 people. Puerto Ricans constitute the largest Latino group within this population, representing roughly 45%. Nearly six million Puerto Ricans live outside of Puerto Rico in the States in total.

    McSorley is based at UConn Waterbury. Waterbury has a large Latino population, including more than 110,000 Puerto Ricans. This positions McSorley well to engage directly with the communities her research stands to impact.

    “It’s the rigor of research translated into policy action to benefit the people we are trying to serve,” McSorley says.

    Much of McSorley’s work focuses on Puerto Rico, which is neither an independent nation nor a state, but a territory of the United States.

    McSorley, who identifies as a “Nuyorican” raised between New York and Puerto Rico, understood this unique status from a young age. She realized there was something about how she was able to travel between the U.S. and Puerto Rico that was distinct from other Latino communities and countries.

    “I started thinking about that very early in my life,” McSorley says. “Then, through my education, I was able to pinpoint this difference, identify policies and structures that affect it, and have the vocabulary to highlight it as part of my research.”

    In her research, McSorley takes an expansive view of the federal and local policies, systems, and agencies that affect our health.

    “I think of traditional health policies,” McSorley says. “But I also think of others in our social sphere, like economic policies, that also ultimately shape health outcomes.”

    McSorley recently contributed three papers to a historical special edition of the American Journal of Public Health – the first to exclusively focus on Latino health issues – in which Puerto Rico is prominently featured.

    McSorley was the first author on one of these papers focusing on three key policy areas contributing to health and health care inequities in Puerto Rico: FEMA, Medicaid, and political representation in the island area.

    McSorley and her collaborators assess the ways in which the distribution of FEMA aid and Medicaid funds to the territory perpetuate health disparities.

    McSorley’s paper also highlights the role of political representation, or the lack thereof, in the differential application of federal policies in the territory of Puerto Rico.

    “Yes, these are matters of health policy,” says McSorley. “However, it’s also a question of political processes, potential political biases, and power dynamics.”

    As a territory, Puerto Rico is not a self-governing state. Puerto Ricans in Puerto Rico are U.S. citizens but cannot vote in presidential elections. They are governed by policies enacted by the U.S. Congress, thousands of miles away.

    In a major election year, Puerto Rico’s unresolved status as a territory could become a mobilizing issue across the Latino community, McSorley says.

    Anna-Michelle McSorley from the Department of Allied Health Sciences at UConn Waterbury. (Jason Sheldon/UConn photo)

    “After all, what is being observed in Puerto Rico also serves as a sort of ‘canary in the coal mine’ for communities across the States,” says McSorley. “For instance, the Medicaid block grant structure employed in Puerto Rico has been proposed as an alternative Medicaid funding structure in the States. If applied, this could lead to the same types of cuts to benefits we see in Puerto Rico.”

    The other papers to which McSorley contributed in this edition focus on improving data collected on Latino groups. Data often treats Latino populations as a monolith. However, this group includes dozens of unique populations.

    One paper calls for better empirical methods for data collection and health statistics that more accurately represent the population. The second paper focuses on Latino reproductive health inequities.

    “I want to address data gaps,” McSorley says. “How we collect data on Latinos, and Puerto Ricans specifically in the U.S. or the territory matters in terms of honoring different needs of populations.”

    This work relates to CAHNR’s Strategic Vision area focused on Promoting Diversity, Equity, Inclusion, and Justice and Enhancing Health and Well-Being Locally, Nationally, and Globally.

    Follow UConn CAHNR on social media

    MIL OSI USA News –

  • MIL-OSI USA: Biomedical Engineering Scientist Receives $1.5 Million General Medicine Grant

    Source: US State of Connecticut

    An accomplished bioengineering researcher at UConn’s College of Engineering (CoE) has received a $1.5 million National Institute of Health grant for his pioneering work in the field of computation-aided molecular design of DNA-inspired Janus Base Nanopieces (JBNps). These are a family of novel biomaterials that mimic DNA and are used in therapeutic and regenerative treatments for people with arthritis, cancer, and neurological diseases.

    “JBNps have a distinct advantage for delivery into ‘hard-to-penetrate’ tissues such as articular cartilage, solid tumors, kidneys and the central nervous system,” says Biomedical Engineering Associate Professor Yupeng Chen. “The impact in treatments will be significant.”

    Chen is the principal investigator and grant recipient, and is studying the impact of manipulating Messenger RNA (mRNA), a molecule that carries the genetic instructions from DNA in the cell nucleus to the ribosomes in the cytoplasm, where those instructions are used to build proteins.

    Essentially, Chen explains, mRNA acts like a “message carrier” to tell the cell which proteins to make.

    “We will develop a novel delivery technology by manipulating the bio-interface properties of the DNA-inspired Janus Base Nanopieces,” Chen says. “JBNps are slimmer than conventional spherical particles, allowing for enhanced infiltration into tissue matrices and barriers.”

    Messenger RNA, Chen adds, is the key ingredient in COVID-19 vaccines and anti-inflammatory drugs and offers the potential for myriad other applications. But there are numerous obstacles to overcome, he states. Unlike many chemical molecules or antibody proteins, mRNAs need to be delivered into cell cytoplasm to be functional. Various types of materials have been developed for successful intracellular delivery of small RNAs, but it is still a major challenge to achieve effective delivery of mRNAs at both cellular and systemic levels.

    Yupeng Chen (photo by Christopher LaRosa)

    Chen cites the study of arthritis as an example. Infiltrating articular cartilage, he says, poses a significant delivery challenge because its matrix has minuscule pore sizes. As a result, no disease-modifying drug exists to treat this condition. JBNps, he explains are smaller and more effectively shaped than the formulations currently being used. They are manufactured through the non-covalent assembly of Janus Bases, allowing researchers to control their formulations and properties by simply mixing different types of Janus Bases.

    “For instance, we can use sidechain-modified Janus Bases for endosomal escape, zwitterion-modified ones for improved biodistribution, and unmodified Janus Bases as the basic building blocks for mRNA loading,” Chen says. “Additionally, focusing on molecule-linked Janus bases can be used for tissue targeting. In this way, JBNps can be easily tailored for a variety of purposes. We expect to develop sidechain-modified JBNps for the most effective mRNA delivery to treat cartilage diseases such as arthritis.”

    Last year, Chen and a student team received international notoriety when NASA astronauts aboard the International Space Station (ISS) conducted an inflight, microgravity proof-of-concept study involving the fabrication of JBNps. During their experimentation, the astronauts communicated directly with Chen and some of his students via Axiom Space and Eascra Biotech as implementation and industry partners at their lab on the UConn campus in Storrs, Connecticut.

    During the course of this four-year grant, Chen will be working with Dr. Ying Li from the University of Wisconsin, an expert in multiscale computational modeling and machine learning; and Dr. Harvey Lodish from MIT, who will provide expertise in cell and RNA biology and therapeutic development. Their proposal, he adds, is built on successful preliminary results and recent publication in high-impact journals such as in PNAS, Science Advances, Angewandte Chemie, ACS Nano, Advanced Functional Materials, Biomaterials, Computational Mechanics, and others.

    MIL OSI USA News –

  • MIL-OSI USA: Husky Back on Football Field Thanks to UConn Health Sports Medicine

    Source: US State of Connecticut

    Like most children in Germany, Alex Honig played soccer, but he fell in love with football. Following in the footsteps of his father, who played football in Germany, he moved onto flag football, then tackle around age 13. He was rated the No. 1 quarterback and overall player in Germany, and excelled for the Schwäbisch Hall Unicorns, one of the top American football youth teams in Germany.

    His college career started at Texas Christian University (TCU) and in 2023 he transferred to UConn. He played tight end in the first two games of the 2023 season before he suffered an injury during a routine block at Georgia State, costing him the rest of the season.

    Dr. Robert Arciero, Sports Medicine Division chief in UConn Health’s Department of Orthopedic Surgery and head orthopedic team physician at UConn, saw Honig when the team returned.

    Dr. Robert Arciero, Sports Medicine Division chief in UConn Health’s Department of Orthopedic Surgery and head orthopedic team physician at UConn

    “It was obvious on the physical exam that Honig tore the ligament holding the kneecap,” Arciero says. “He’s a big man and plays in a rough sport, where you hit people on purpose, so it became obvious, to get him back and have him not have a recurrent dislocating patella, that we needed to fix it by repairing the ligament. And in his case, augmenting it with a graph to make it stronger.”

    The team physicians from UConn Health help maximize performance, prevent injuries and get UConn athletes back on the field or court after illness or injury.

    Arciero explains that every individual athlete gets the same level of care, which includes a topflight training staff at UConn, where trainers are with the athletes every time they are on the court or field. When they get injured, the team physicians are on speed dial. In Storrs, the team physicians see the athletes once a week and are able to see an athlete within hours of an injury. At UConn Health, advanced imaging capabilities enable prompt MRIs and CT scans.

    “Frankly our surgery center has some of the most experienced anesthesiologists, surgical techs, nurses, and staff, which is why I bring my athletes here,” says Arciero ” because I know I am going to give them the best shot I can. It all comes from a mindset and dedication, but then having all these pieces in place that can respond make it top notch.

    “We get many people back to being active, but getting athletes back to the elite level at the same professional level is the thing that drives us.”

    If you play sports, you are potentially going to get hurt. The team physicians rapidly evaluate, diagnose and put treatment into place whether it is nonsurgical, rehabilitative, or in-depth surgery.

    “The goal: They are happy and can return to their sport at the same level,” Arciero says. “That’s the key.”

    Alex Honig, UConn Football (Photo Credit: UConn Athletics)

    When Honig was taken out of the game, he realized he had a long road to recovery.

    “Dr. Arciero walked me through the injury and laid out what I needed to recover,” says Honig.  “I never had surgery before, and he was really good at explaining everything to me, including the surgery and the recovery process.”

    “You have a discussion. Some people would argue that you can fix this without an operation, and that would be applicable to someone who is sedentary, where you let the ligament try to heal on his own, but this does not define Alex, who works out every day and plays a collision sport. So, it became a discussion with him. I told him we could choose not to operate on it, but if we chose that route, it would become a recurrent problem,” explains Arciero.

    Trust is crucial for team physicians and athletes, and in addition to reputation, Arciero says the other part of trust is face time.

    “Being with the team, showing up early on a travel flight, talking to the kids and coaches, and balancing that with being like paint on the wall, because no one likes the team doctor,” Arciero says.  “We are like the grim reaper: We usually have bad news, and the only time we have good news is when we tell them they can go back to play.

    “It’s important to talk to them about their problems, they are pretty smart, they have a lot of resources, and they will challenge you, but you need to sit with them, look them in the eye and answer their questions, and really make an effort that they understand – that’s how you build trust. You also have to be able to bring the goods and have good outcomes.”

    According to Honig, the first few days were tough. Using crutches, sleeping and moving around were hard. He had to relearn how to walk, and the rehab was different from what he was used to when working out with heavy weights.

    Honig says he had lots of support, listened to his body and talked with the doctors regularly, including weekly check-ins with Arciero to make sure rehab was going well. Honig found it easy to set goals and work toward them.

    “It’s scary, but following the guiding hands of the doctors and the trainers who have been here before and are supportive, their confidence is contagious, and you trust them,” says Honig.

    He adds: “Football is unique: you practice and prepare all year and have 12 chances to play the game after preparing all year. It was important for me to find a way to support the team while focusing on rehab.”

    By January he felt confident running again. By spring practice in March, he was cleared to practice and play in the spring game while wearing a brace.

    “It felt good and got the excitement going again. Personally, I feel like I have developed and changed my perspective,” says Honig.

    Honig is back on the field, playing well in what has become an exciting season for the football team. He feels faster and stronger this season.

    “Nothing makes me happier to see the player back on the field, when you see them on the sideline coming back after an injury and they say, ‘It’s all you, doc.’ That’s all I need,” says Arciero. “That’s what keeps a sports physician taking care of athletes.”

    UConn Health Orthopedics and Sports Medicine has a long tradition of providing medical care for the UConn Huskies, professional sports teams, and other organizations, and is proud to help keep some of the world’s top athletes on the field, on the court, and in the game.

    And the best news? You don’t have to be a Husky to be seen by a Husky. UConn Health believes that everyone deserves world-class orthopedic care whether you’re an elite athlete, weekend warrior, or you hurt your shoulder while mowing the lawn.

    Learn more about UConn Health Orthopedics and Sports Medicine or request an appointment with a  doctor.

    MIL OSI USA News –

  • MIL-OSI Australia: Stopping schemes to illegally access super

    Source: Australian Department of Revenue

    How we are protecting super

    We’re working to protect Australians’ retirement savings from schemes to illegally access super by:

    These approaches will help prevent the creation of an SMSF for the purpose of illegal access of super.

    Find out more about illegal early release of super.

    SMSF registration process

    The SMSF registration process helps safeguard retirement savings by preventing the inappropriate establishment of SMSFs. It can take up to 56 days before an SMSF is shown on SFLU as a regulated fund.

    Once a new SMSF is displayed on SFLU, it will initially be given a status of ‘Registered’. This status is allocated to all SMSFs on registration and will be updated within 7 days to ‘Complying’ when the SMSF receives its Notice of Compliance.

    An Australian business number (ABN) for the fund will be issued before the election to be regulated is processed. This means that you can use the ABN to establish a bank account for the SMSF.

    If we identify a problem with a new registration, we will immediately contact the authorised contact for the SMSF.

    We have updated SFLU to provide clearer information about the complying and regulatory status of SMSFs and identify SMSFs that we have concerns about.

    SMSF member verification system

    When Australian Prudential Regulation Authority (APRA) regulated funds and SMSFs receive a request to rollover their member’s super balance to an SMSF, they must use the SMSF verification service (SVS) to confirm:

    • the ABN in the request is registered as an SMSF
    • SMSF status (complying or regulated)
    • the tax file number (TFN) of the member requesting the rollover is associated with the SMSF
    • the TFN of the member requesting the rollover is not compromised
    • no verified date of death exists for that member
    • SMSF bank details in the rollover request match those held by the ATO
    • Electronic Service Address (ESA) in the rollover request matches that held by the ATO.

    If a fund suspects fraud or illegal early access

    When an APRA-regulated fund receives a transfer or rollover request and they suspect they’re dealing with fraud or illegal early access activity, you should:

    We will investigate all reports of suspicious transactions.

    Depending on the suspicious transaction, you may also have obligations to report to Australian Transaction Reports and Analysis Centre (AUSTRAC)External Link and relevant law enforcement agencies.

    Keep your SMSF details up to date with us

    Keeping your details up to date with us will help reduce the risk of fraud and illegal early access.

    It’s also important because when someone initiates a rollover request into an SMSF, the SVS will verify the fund and member details. If the SVS indicates the SMSF doesn’t have a ‘registered’ or ‘complying’ status, they will not be able to receive a rollover. If the transferring fund suspects any illegal activity, they will report it to us and may also be required to report it to relevant law enforcement agencies.

    You need to ensure your SMSF membership details are recorded correctly and notify us of changes. This includes your fund’s:

    • bank account
    • electronic service address.
    • trustees
    • directors of the corporate trustee
    • members
    • contact details (contact person, phone, email address and fax numbers)
    • address (postal, registered or address for service of fund notices)
    • fund status.

    Alerts for changes

    To safeguard retirement savings and reduce the risk of fraud, we send an email or text alert (or both) when there is a change to the SMSF’s:

    • financial institution account details
    • ESA
    • authorised contact
    • members.

    If you receive an alert and did not authorise or know about the changes outlined, you should take action immediately.

    Phone us on 13 10 20 between 8:00 am and 6:00 pm Monday to Friday if you’re concerned that without your consent or knowledge:

    • an SMSF has been established, or
    • changes have been made to your existing SMSF.

    Have your TFN or ABN ready to establish your identity before you phone us.

    MIL OSI News –

  • MIL-OSI USA: Gov. Justice delivers $1 million Abandoned Mine Land Economic Revitalization grant to Mylan Park

    Source: US State of West Virginia

    The AMLER program aims to repurpose abandoned mine lands for sustainable economic development across West Virginia, with Mylan Park serving as a prime example of successful revitalization.

    About Mylan Park
    Over the past 20 years, Mylan Park has grown from four baseball and softball fields into full-service sports, recreation, wellness, and events complex spanning 400 beautiful acres. Mylan Park is also proud to be home to a variety of social, training, and educational organizations operating within the park footprint and serving the greater Morgantown community daily through their non-profit and service-oriented missions.

    Today, Mylan Park is recognized as one of West Virginia’s most dynamic venues for users and events of all walks. Owned and operated by the non-profit 501c3 Mylan Park Foundation, Mylan Park now offers 14 indoor and outdoor facilities comprising over 60 acres of athletic field space and more than 180,000 sq. ft. of indoor sport, recreation, and event venues. Each unique component of the park ensures that there is something for everyone and that Mylan Park is truly a place the entire community can enjoy.

    In recent years, the state has awarded the Mylan Park Foundation a $3.75 million grant from the AMLER program and a $3.5 million grant from the West Virginia Water Development Authority. The AMLER grant is supporting the development of Mylan Park’s new RV campground, and the Water Development Authority’s funds have been used to returf the park’s ballfields, upgrade the ballfield facility, and install pickleball courts.

    MIL OSI USA News –

  • MIL-OSI: Sono Group N.V. to Present at the AI & Technology Virtual Investor Conference October 31st

    Source: GlobeNewswire (MIL-OSI)

    MUNICH, Oct. 29, 2024 (GLOBE NEWSWIRE) — The solar technology company Sono Group N.V. (OTCQB: SEVCF) (hereafter referred to as “Sono” or the “Company”, parent company to Sono Motors GmbH or “Sono Motors”) is pleased to announce that George O’Leary, Managing Director, CEO and CFO of Sono, will present live at the AI & Technology Virtual Investor Conference hosted by VirtualInvestorConferences.com, on October 31st, 2024.

    DATE: October 31st
    TIME: 1:00 – 1:30 pm ET
    LINK: https://bit.ly/3ASgcyv
    Available for 1×1 meetings: November 1, 4 and 5

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

    Learn more about the event at www.virtualinvestorconferences.com.

    Recent Company Highlights

    About Sono Group N.V.

    Sono Group N.V. (OTCQB: SEVCF) and its wholly owned subsidiary Sono Motors GmbH are on a pioneering mission to accelerate the revolution of mobility by making every commercial vehicle solar. Their disruptive solar technology has been developed to enable seamless integration into all types of commercial vehicles to reduce the impact of CO2 emissions and pave the way for climate-friendly mobility. The companies’ unmatched solar technology has multiple applications in commercial vehicles such as buses, trailers, trucks, vans and recreational vehicles.

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

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

    CONTACTS:
    Sono Group N.V.
    Press:
    press@sonomotors.com | ir.sonomotors.com/news-events
    Investors:
    ir@sonomotors.com | ir.sonomotors.com
    LinkedIn:
    https://www.linkedin.com/company/sonogroupnv

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

    The MIL Network –

  • MIL-OSI: SBB Research Group Foundation Awards Additional Grants to 3 Illinois Nonprofits

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Oct. 29, 2024 (GLOBE NEWSWIRE) — The SBB Research Group Foundation invited three prior grant recipients to share updates on their critical efforts to support the local community. The Foundation awarded additional grants to further each of the respective organization’s missions (organizations listed alphabetically): 

    • The Dragonfly Foundation (Highland Park, IL) provides support and resources to pediatric cancer patients and their families by partnering with local hospitals during diagnosis, treatment, and beyond. The initial grant supported pediatric cancer patients and families at eight Chicagoland hospitals. The funds covered urgent needs, including rent, lodging during treatment, winter clothing, and groceries.
    • Project Kennedy (Glenwood, IL) leverages their platform to foster awareness and support individuals battling cancer, their loved ones, and their communities. They offer emotional support, inspiring those touched by the challenges of cancer. With the initial grant Project Kennedy awarded two scholarships, delivered ’Kare Baskets’, provided groceries to 10 families, and distributed Easter bags to children being treated for cancer at their four partner hospitals.
    • Willow House (Bannockburn, IL) is dedicated to offering grief support and educational resources to young individuals, families, schools, and other affected communities coping with the loss of a family member. They aspire to ensure that no child, teenager, or parent undergoes the grieving process alone. Willow House used the initial grant to enhance their Expressive Arts program, providing art supplies for three monthly groups with 58 attendees, over half of whom were children under 18. The funds also supported their Spanish-speaking groups by marketing programs, translating materials, and supplying meeting resources.

    “We are happy to support these incredible organizations as they continue their essential work, providing critical resources and support to families facing cancer and grief in our community,” said Matt Aven, co-founder and board member of the SBB Research Group Foundation. 

    The Foundation encourages any 501(c)(3) nonprofit organization to apply for a grant at sbbrg.org/apply-for-grant. Donations are awarded to different organizations monthly.

    About the SBB Research Group Foundation 

    The SBB Research Group Foundation is a 501(c)(3) nonprofit that furthers the philanthropic mission of SBB Research Group LLC (SBBRG), a Chicago-based investment management firm led by Sam Barnett, Ph.D., and Matt Aven. The Foundation provides grants to support ambitious organizations solving unmet needs with thoughtful, long-term strategies. In addition, the Foundation sponsors the SBBRG STEM Scholarship, which supports students pursuing science, technology, engineering, and mathematics degrees. 

    Contact: Erin Noonan 
    Organization: SBB Research Group Foundation 
    Email: grants@sbbrg.org
    Address: 450 Skokie Blvd, Building 600, Northbrook, IL 60062, United States 
    Phone: 1-847-656-1111
    Website: https://www.sbbrg.org

    The MIL Network –

  • MIL-OSI: World’s Lowest Fee Bitcoin and Ether ETPs (Ticker: BTC, Ticker: ETH) Garner $750,000,000 Inflows in First Three Months of Trading

    Source: GlobeNewswire (MIL-OSI)

    STAMFORD, Conn., Oct. 29, 2024 (GLOBE NEWSWIRE) — Grayscale Investments®, an asset management firm with over a decade of expertise in crypto investing, offering more than 25 crypto investment products, and manager of Grayscale® Bitcoin Mini Trust  (NYSE Arca: BTC) and Grayscale® Ethereum Mini Trust (NYSE Arca: ETH), today announced that its lowest-fee* Bitcoin and Ether ETPs – symbols: BTC and ETH – have together garnered more than $750,000,000 inflows since the products launched on July 31, 2024, and July 23, 2024, respectively, just three months ago. 

    Grayscale Bitcoin Mini Trust (“BTC”) and Grayscale Ethereum Mini Trust (“ETH”), exchange traded products, are not registered under the Investment Company Act of 1940 (or the ’40 Act) and therefore are not subject to the same regulations and protections as 1940 Act registered ETFs and mutual funds. 

    “Crypto is still in the very early stages of adoption, and the success of BTC and ETH to-date is emblematic of strong client demand for low-cost ETPs that enable simple, convenient, flexible exposure to top crypto assets,” said John Hoffman Grayscale Managing Director, Head of Distribution and Partnerships. “Grayscale has long prioritized bridging the gap between traditional finance and the crypto ecosystem because we believe our clients deserve the ability to gain exposure to digital assets through the trusted ETP wrapper. The Grayscale team is focused on helping all investors navigate the digital asset class, as they seek to future-proof their financial portfolios and practices.”  

    Since July 2024: 

    • Grayscale® Bitcoin Mini Trust (NYSE Arca: BTC) is the lowest-cost Bitcoin ETP in the world with over $2B AUM, as of October 24, 2024, at 0.15% (15bps) annually.  
    • Grayscale® Ethereum Mini Trust (NYSE Arca: ETH) is the lowest-fee Ether ETP in the world with over $1B AUM, as of October 24, 2024, at 0.15% (15bps) annually.  
    • Combined, BTC and ETH, have generated net inflows of over $750,000,000 to-date. 

    Symbols: BTC and ETH are the most cost-effective financial products for investors looking to gain exposure to Bitcoin and Ether, the market-leading assets in the transformational blockchain technology industry. 

    The Grayscale team is pleased to provide industry-leading research, content, and no-cost resources for investors and financial professionals. If you’d like to learn more, please email info@grayscale.com or call 866-775-0313 to speak directly to a member of the Grayscale team.  

    For additional information about BTC, please visit: https://etfs.grayscale.com/btc  

    For additional information about ETH, please visit: https://etfs.grayscale.com/eth  

    * BTC is low cost based on gross expense ratio at 0.15%. ETH is low cost based on gross expense ratio at 0% for the first 6 months of trading for the first $2.0 billion. After the Trust reaches $2.0 billion in assets or after 6-month waiver period, the fee will be 0.15%. See prospectus for additional fee waiver information. Brokerage fees and other expenses may still apply. 

    Please read the prospectuses carefully before investing in BTC and ETH (the “Trusts”). Foreside Fund Services, LLC is the Marketing Agent for the Trusts. 

    An investment in the Trusts is subject to a high degree of risk and heightened volatility. Digital assets are not suitable for an investor that cannot afford the loss of the entire investment. An investment in the Trusts is not an investment in Ether or Bitcoin. Investing involves significant risk, including possible loss of principle.   

    About Grayscale Investments® 

    Grayscale enables investors to access the digital economy through a family of future-forward investment products. Founded in 2013, Grayscale has a proven track record and deep expertise as the world’s largest crypto asset manager. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure.  

    Media Contact 
    Jennifer Rosenthal
    press@grayscale.com 

    Client Contact 
    866-775-0313
    info@grayscale.com 

    The MIL Network –

  • MIL-OSI: Eagle Bancorp Montana Earns $2.7 Million, or $0.34 per Diluted Share, in the Third Quarter of 2024; Declares Quarterly Cash Dividend of $0.1425 Per Share

    Source: GlobeNewswire (MIL-OSI)

    HELENA, Mont., Oct. 29, 2024 (GLOBE NEWSWIRE) — Eagle Bancorp Montana, Inc. (NASDAQ: EBMT), (the “Company,” “Eagle”), the holding company of Opportunity Bank of Montana (the “Bank”), today reported net income of $2.7 million, or $0.34 per diluted share, in the third quarter of 2024, compared to $1.7 million, or $0.22 per diluted share, in the preceding quarter, and $2.6 million, or $0.34 per diluted share, in the third quarter of 2023. In the first nine months of 2024, net income was $6.3 million, or $0.81 per diluted share, compared to $7.9 million, or $1.01 per diluted share, in the first nine months of 2023.

    Eagle’s board of directors declared a quarterly cash dividend of $0.1425 per share on October 17, 2024. The dividend will be payable December 6, 2024, to shareholders of record November 15, 2024. The current dividend represents an annualized yield of 3.49% based on recent market prices.

    “We produced improved top and bottom line operating results during the third quarter of 2024, with net interest income and noninterest income both increasing compared to the second quarter of 2024,” said Laura F. Clark, President and CEO. “As in previous quarters, we continued to remain selective on the loans we added during the quarter, while adhering to disciplined loan pricing. The result was tempered loan growth during the third quarter of 1.1%, and 4.0% year-over-year. Total deposits increased 2.0% during the quarter over the linked quarter, as we continue to maintain our attractive deposit mix. With our strong deposit franchise, pristine credit quality, and ample capital levels, we are well positioned for growth throughout the remainder of the year and into 2025.”

    Third Quarter 2024 Highlights (at or for the three-month period ended September 30, 2024, except where noted):

    • Net income was $2.7 million, or $0.34 per diluted share, in the third quarter of 2024, compared to $1.7 million, or $0.22 per diluted share, in the preceding quarter, and $2.6 million, or $0.34 per diluted share, in the third quarter a year ago.
    • Net interest margin (“NIM”) was 3.34% in the third quarter of 2024, a seven basis point contraction compared to 3.41% in the preceding quarter and the third quarter a year ago.
    • Revenues (net interest income before the provision for credit losses, plus noninterest income) were $20.8 million in the third quarter of 2024, compared to $19.9 million in the preceding quarter and $21.6 million in the third quarter a year ago.
    • The accretion of the loan purchase discount into loan interest income from acquisitions was $167,000 in the third quarter of 2024, compared to accretion on purchased loans from acquisitions of $304,000 in the preceding quarter.
    • Total loans increased 4.0% to $1.53 billion, at September 30, 2024, compared to $1.48 billion a year earlier, and increased 1.1% compared to $1.52 billion at June 30, 2024.
    • Total deposits increased $35.0 million or 2.2% to $1.65 billion at September 30, 2024, compared to a year earlier, and increased $31.6 million or 2.0%, compared to June 30, 2024.
    • The allowance for credit losses represented 1.12% of portfolio loans and 356.7% of nonperforming loans at September 30, 2024, compared to 1.10% of portfolio loans and 209.3% of nonperforming loans at September 30, 2023.
    • The Company’s available borrowing capacity was approximately $348.1 million at September 30, 2024.
            September 30, 2024
    (Dollars in thousands)     Borrowings Outstanding Remaining Borrowing Capacity
    Federal Home Loan Bank advances $ 219,167 $ 219,365
    Federal Reserve Bank discount window   –   28,734
    Correspondent bank lines of credit   –   100,000
    Total       $ 219,167 $ 348,099
               
    • The Company paid a quarterly cash dividend in the second quarter of $0.1425 per share on September 6, 2024, to shareholders of record August 16, 2024.

    Balance Sheet Results

    Eagle’s total assets increased 4.0% to $2.15 billion at September 30, 2024, compared to $2.06 billion a year ago, and increased 2.2% compared to $2.10 billion three months earlier. The investment securities portfolio totaled $307.0 million at September 30, 2024, compared to $308.8 million a year ago, and $306.9 million at June 30, 2024.

    Eagle originated $58.0 million in new residential mortgages during the quarter and sold $51.0 million in residential mortgages, with an average gross margin on sale of mortgage loans of approximately 3.31%. This production compares to residential mortgage originations of $60.6 million in the preceding quarter with sales of $53.2 million and an average gross margin on sale of mortgage loans of approximately 3.01%. Mortgage volumes remain low as rates have continued to be elevated relative to rates on existing mortgages.

    Total loans increased $58.9 million, or 4.0%, compared to a year ago, and $17.2 million, or 1.1%, from three months earlier. Commercial real estate loans increased 5.2% to $644.0 million at September 30, 2024, compared to $612.0 million a year earlier. Commercial real estate loans were comprised of 69.3% non-owner occupied and 30.7% owner occupied at September 30, 2024. Agricultural and farmland loans increased 5.8% to $290.0 million at September 30, 2024, compared to $274.1 million a year earlier. Residential mortgage loans increased 6.7% to $156.8 million, compared to $146.9 million a year earlier. Commercial loans increased 10.2% to $143.2 million, compared to $130.0 million a year ago. Commercial construction and development loans decreased 17.3% to $125.3 million, compared to $151.6 million a year ago. Home equity loans increased 12.5% to $93.6 million, residential construction loans increased 8.5% to $52.2 million, and consumer loans decreased 1.3% to $29.4 million, compared to a year ago.

    “Our deposit mix continued to shift towards higher yielding deposits due to the higher interest rate environment. However, we anticipate deposit rates will continue to stabilize or improve following the recent Fed rate cuts,” said Miranda Spaulding, CFO.

    Total deposits increased to $1.65 billion at September 30, 2024, compared to $1.62 billion at September 30, 2023, and at June 30, 2024. Noninterest-bearing checking accounts represented 25.4%, interest-bearing checking accounts represented 12.7%, savings accounts represented 12.9%, money market accounts comprised 21.3% and time certificates of deposit made up 27.7% of the total deposit portfolio at September 30, 2024. Time certificates of deposit include $22.1 million in brokered certificates at September 30, 2024, compared to $40.0 million at September 30, 2023, and $26.2 million at June 30, 2024. The average cost of total deposits was 1.76% in the third quarter of 2024, compared to 1.70% in the preceding quarter and 1.28% in the third quarter of 2023. The estimated amount of uninsured deposits was approximately $307.0 million, or 18% of total deposits, at September 30, 2024, compared to $284.0 million, or 17% of total deposits, at June 30, 2024.

    Shareholders’ equity was $177.7 million at September 30, 2024, compared to $157.3 million a year earlier and $170.2 million three months earlier. Book value per share increased to $22.17 at September 30, 2024, compared to $19.69 a year earlier and $21.23 three months earlier. Tangible book value per share, a non-GAAP financial measure calculated by dividing shareholders’ equity, less goodwill and core deposit intangible, by common shares outstanding, was $17.23 at September 30, 2024, compared to $14.55 a year earlier and $16.25 three months earlier.  

    Operating Results

    “Our core NIM declined slightly during the third quarter, compared to the preceding quarter, due to relatively flat yields on interest earning assets and cost of funds expansion,” said Clark. “We anticipate continued stabilization and eventual improvement in our cost of funds as we continue through this rate cycle.”

    Eagle’s NIM was 3.34% in the third quarter of 2024, a seven basis point contraction compared to 3.41% in both the preceding quarter and the third quarter a year ago. The interest accretion on acquired loans totaled $167,000 and resulted in a three basis-point increase in the NIM during the third quarter of 2024, compared to $304,000 and a seven basis-point increase in the NIM during the preceding quarter. Funding costs for the third quarter of 2024 were 2.89%, compared to 2.78% in the second quarter of 2024 and 2.37% in the third quarter of 2023. Average yields on interest earning assets for the third quarter of 2024 increased to 5.66%, compared to 5.64% in the second quarter of 2024 and 5.27% in the third quarter a year ago. For the first nine months of 2024, the NIM was 3.36% compared to 3.57% for the first nine months of 2023.

    Net interest income, before the provision for credit losses, increased to $15.8 million in the third quarter of 2024, compared to $15.6 million in both the second quarter of 2024, and in the third quarter of 2023. Year-to-date, net interest income decreased 1.3% to $46.6 million, compared to $47.3 million in the same period one year earlier.

    Revenues for the third quarter of 2024 increased 4.4% to $20.8 million, compared to $19.9 million in the preceding quarter and decreased 3.9% compared to $21.6 million in the third quarter a year ago. In the first nine months of 2024, revenues were $59.9 million, compared to $64.2 million in the first nine months of 2023. The decrease compared to the first nine months a year ago was largely due to lower volumes in mortgage banking activity.

    Total noninterest income increased 16.7% to $5.0 million in the third quarter of 2024, compared to $4.3 million in the preceding quarter, and decreased 17.4% compared to $6.0 million in the third quarter a year ago. The increase from the preceding quarter was largely due to income from bank owned life insurance of $724,000. Net mortgage banking income, the largest component of noninterest income, totaled $2.6 million in the third quarter of 2024, compared to $2.4 million in the preceding quarter and $4.3 million in the third quarter a year ago. This decrease compared to the third quarter a year ago was largely driven by a decline in net gain on sale of mortgage loans. This was impacted by lower mortgage loan volumes. In the first nine months of 2024, noninterest income decreased 21.9% to $13.2 million, compared to $16.9 million in the first nine months of 2023. Net mortgage banking income decreased 36.0% to $7.2 million in the first nine months of 2024, compared to $11.3 million in the first nine months of 2023. These decreases were driven by a decline in net gain on sale of mortgage loans.

    Third quarter noninterest expense was $17.3 million, which was unchanged compared to the preceding quarter and a 3.4% decrease compared to $17.9 million in the third quarter a year ago. Lower salaries and employee benefits contributed to the decrease compared to the year ago quarter. In the first nine months of 2024, noninterest expense decreased 3.0% to $51.6 million, compared to $53.2 million in the first nine months of 2023.

    For the third quarter of 2024, the Company recorded income tax expense of $529,000. This compared to income tax expense of $444,000 in the preceding quarter and $524,000 in the third quarter of 2023. The effective tax rate for the third quarter of 2024 was 16.3%, compared to 16.6% for the third quarter of 2023. The year-to-date effective tax rate was 17.5% for 2024 compared to 19.5% for the same period in 2023.

    Credit Quality

    During the third quarter of 2024, Eagle recorded a provision for credit losses of $277,000. This compared to a $412,000 provision for credit losses in the preceding quarter and $588,000 in the third quarter a year ago. The allowance for credit losses represented 356.7% of nonperforming loans at September 30, 2024, compared to 330.8% three months earlier and 209.3% a year earlier. Nonperforming loans were $4.8 million at September 30, 2024, $5.1 million at June 30, 2024, and $7.8 million a year earlier.

    Net loan charge-offs totaled $17,000 in the third quarter of 2024, compared to net loan charge-offs of $2,000 in the preceding quarter and net loan charge-offs of $108,000 in the third quarter a year ago. The allowance for credit losses was $17.1 million, or 1.12% of total loans, at September 30, 2024, compared to $16.8 million, or 1.11% of total loans, at June 30, 2024, and $16.2 million, or 1.10% of total loans, a year ago.

    Capital Management

    The ratio of tangible common shareholders’ equity (shareholders’ equity, less goodwill and core deposit intangible) to tangible assets (total assets, less goodwill and core deposit intangible) was 6.56% at September 30, 2024, from 5.75% a year ago and 6.33% three months earlier. As of September 30, 2024, the Bank’s regulatory capital was in excess of all applicable regulatory requirements and is deemed well capitalized. The Bank’s Tier 1 capital to adjusted total average assets was 9.87% as of September 30, 2024.

    About the Company

    Eagle Bancorp Montana, Inc. is a bank holding company headquartered in Helena, Montana, and is the holding company of Opportunity Bank of Montana, a community bank established in 1922 that serves consumers and small businesses in Montana through 29 banking offices. Additional information is available on the Bank’s website at www.opportunitybank.com. The shares of Eagle Bancorp Montana, Inc. are traded on the NASDAQ Global Market under the symbol “EBMT.”

    Forward Looking Statements

    This release may contain certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and may be identified by the use of such words as “believe,” “will” “expect,” “anticipate,” “should,” “planned,” “estimated,” and “potential.” These forward-looking statements include, but are not limited to statements of our goals, intentions and expectations; statements regarding our business plans, prospects, mergers, growth and operating strategies; statements regarding the asset quality of our loan and investment portfolios; and estimates of our risks and future costs and benefits. These forward-looking statements are based on current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. These factors include, but are not limited to, changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory fees and capital requirements; general economic conditions and political events, either nationally or in our market areas, that are worse than expected including the ability of the U.S. Congress to increase the U.S. statutory debt limit, as needed, as well as the impact of the 2024 U.S. presidential election; the emergence or continuation of widespread health emergencies or pandemics including the magnitude and duration of the COVID-19 pandemic, including but not limited to vaccine efficacy and immunization rates, new variants, steps taken by governmental and other authorities to contain, mitigate and combat the pandemic, adverse effects on our employees, customers and third-party service providers, the increase in cyberattacks in the current work-from-home environment, the ultimate extent of the impacts on our business, financial position, results of operations, liquidity and prospects, continued deterioration in general business and economic conditions could adversely affect our revenues and the values of our assets and liabilities, lead to a tightening of credit and increase stock price volatility, and potential impairment charges; the impact of volatility in the U.S. banking industry, including the associated impact of any regulatory changes or other mitigation efforts taken by governmental agencies in response thereto; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions, customer behavior, adverse developments with respect to U.S. economic conditions and other uncertainties, including the impact of supply chain disruptions, inflationary pressures and labor shortages on economic conditions and our business; an inability to access capital markets or maintain deposits or borrowing costs; competition among banks, financial holding companies and other traditional and non-traditional financial service providers; loan demand or residential and commercial real estate values in Montana; the concentration of our business in Montana; our ability to continue to increase and manage our commercial real estate, commercial business and agricultural loans; the costs and effects of legal, compliance and regulatory actions, changes and developments, including the initiation and resolution of legal proceedings (including any securities, bank operations, consumer or employee litigation); inflation and changes in the interest rate environment that reduce our margins or reduce the fair value of financial instruments; adverse changes in the securities markets that lead to impairment in the value of our investment securities and goodwill; other economic, governmental, competitive, regulatory and technological factors that may affect our operations; our ability to implement new technologies and maintain secure and reliable technology systems including those that involve the Bank’s third-party vendors and service providers; cyber incidents, or theft or loss of Company or customer data or money; our ability to appropriately address social, environmental, and sustainability concerns that may arise from our business activities; the effect of our recent or future acquisitions, including the failure to achieve expected revenue growth and/or expense savings, the failure to effectively integrate their operations, the outcome of any legal proceedings and the diversion of management time on issues related to the integration.

    Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. All information set forth in this press release is current as of the date of this release and the company undertakes no duty or obligation to update this information.

    Use of Non-GAAP Financial Measures

    In addition to results presented in accordance with generally accepted accounting principles utilized in the United States, or GAAP, the Financial Ratios and Other Data contains non-GAAP financial measures. Non-GAAP financial measures include: 1) core efficiency ratio, 2) tangible book value per share and 3) tangible common equity to tangible assets. The Company uses these non-GAAP financial measures to provide meaningful supplemental information regarding the Company’s operational performance and performance trends, and to enhance investors’ overall understanding of such financial performance. In particular, the use of tangible book value per share and tangible common equity to tangible assets is prevalent among banking regulators, investors and analysts.

    The numerator for the core efficiency ratio is calculated by subtracting acquisition costs and intangible asset amortization from noninterest expense. Tangible assets and tangible common shareholders’ equity are calculated by excluding intangible assets from assets and shareholders’ equity, respectively. For these financial measures, our intangible assets consist of goodwill and core deposit intangible. Tangible book value per share is calculated by dividing tangible common shareholders’ equity by the number of common shares outstanding. We believe that this measure is consistent with the capital treatment by our bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios and present this measure to facilitate the comparison of the quality and composition of our capital over time and in comparison, to our competitors.

    Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied, and are not audited. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. Further, the non-GAAP financial measure of tangible book value per share should not be considered in isolation or as a substitute for book value per share or total shareholders’ equity determined in accordance with GAAP, and may not be comparable to a similarly titled measure reported by other companies. Reconciliation of the GAAP and non-GAAP financial measures are presented below.

                   
    Balance Sheet              
    (Dollars in thousands, except per share data)       (Unaudited)  
                September 30, June 30, September 30,
                  2024     2024     2023  
                     
    Assets:              
      Cash and due from banks       $ 22,954   $ 22,361   $ 19,743  
      Interest bearing deposits in banks       19,035     1,401     1,040  
      Federal funds sold           200     –     –  
      Total cash and cash equivalents       42,189     23,762     20,783  
      Securities available-for-sale, at fair value       306,982     306,869     308,786  
      Federal Home Loan Bank (“FHLB”) stock       11,218     10,136     10,438  
      Federal Reserve Bank (“FRB”) stock       4,131     4,131     4,131  
      Mortgage loans held-for-sale, at fair value       13,429     10,518     17,880  
      Loans:              
      Real estate loans:            
      Residential 1-4 family         156,811     157,053     146,938  
      Residential 1-4 family construction       52,217     50,228     48,135  
      Commercial real estate         644,019     627,326     611,963  
      Commercial construction and development     125,323     137,427     151,614  
      Farmland           145,356     142,353     143,789  
      Other loans:              
      Home equity           93,646     93,213     83,221  
      Consumer           29,445     29,118     29,832  
      Commercial           143,190     143,641     129,952  
      Agricultural           144,645     137,134     130,329  
      Total loans           1,534,652     1,517,493     1,475,773  
      Allowance for credit losses         (17,130 )   (16,830 )   (16,230 )
      Net loans           1,517,522     1,500,663     1,459,543  
      Accrued interest and dividends receivable       14,844     13,195     13,657  
      Mortgage servicing rights, net         15,443     15,614     15,738  
      Assets held-for-sale, at cost         257     257     –  
      Premises and equipment, net         100,297     98,397     92,979  
      Cash surrender value of life insurance, net       52,852     48,529     47,647  
      Goodwill           34,740     34,740     34,740  
      Core deposit intangible, net         4,834     5,168     6,264  
      Other assets           26,375     26,976     30,478  
      Total assets         $ 2,145,113   $ 2,098,955   $ 2,063,064  
                     
    Liabilities:              
      Deposit accounts:              
      Noninterest bearing       $ 419,760   $ 400,113   $ 435,655  
      Interest bearing           1,230,752     1,218,752     1,179,823  
      Total deposits         1,650,512     1,618,865     1,615,478  
      Accrued expenses and other liabilities       38,593     35,804     31,597  
      FHLB advances and other borrowings       219,167     215,050     199,757  
      Other long-term debt, net         59,111     59,074     58,962  
      Total liabilities         1,967,383     1,928,793     1,905,794  
                     
    Shareholders’ Equity:              
      Preferred stock (par value $0.01 per share; 1,000,000 shares      
      authorized; no shares issued or outstanding)     –     –     –  
      Common stock (par value $0.01; 20,000,000 shares authorized;      
      8,507,429 shares issued; 8,016,784, 8,016,784 and 7,988,132      
      shares outstanding at September 30, 2024, June 30, 2024 and      
      September 30, 2023, respectively       85     85     85  
      Additional paid-in capital         109,040     108,962     109,422  
      Unallocated common stock held by Employee Stock Ownership Plan   (4,154 )   (4,297 )   (4,727 )
      Treasury stock, at cost (490,645, 490,645 and 519,297 shares at      
      September 30, 2024, June 30, 2024 and September 30, 2023, respectively)           (11,124 )   (11,124 )   (11,574 )
      Retained earnings           98,979     97,413     94,979  
      Accumulated other comprehensive loss, net of tax     (15,096 )   (20,877 )   (30,915 )
      Total shareholders’ equity       177,730     170,162     157,270  
      Total liabilities and shareholders’ equity   $ 2,145,113   $ 2,098,955   $ 2,063,064  
                     
    Income Statement      (Unaudited)   (Unaudited)
    (Dollars in thousands, except per share data)     Three Months Ended   Nine Months Ended
                  September 30, June 30, September 30,   September 30,
                    2024   2024   2023     2024   2023  
    Interest and dividend income:                
      Interest and fees on loans     $ 23,802 $ 22,782 $ 21,068   $ 68,526 $ 57,942  
      Securities available-for-sale       2,598   2,631   2,794     7,953   8,586  
      FRB and FHLB dividends       266   264   212     777   480  
      Other interest income       94   145   20     268   66  
        Total interest and dividend income       26,760   25,822   24,094     77,524   67,074  
    Interest expense:                  
      Interest expense on deposits       7,190   6,884   5,152     20,622   11,767  
      FHLB advances and other borrowings       3,084   2,625   2,672     8,206   5,993  
      Other long-term debt       684   681   683     2,048   2,035  
        Total interest expense       10,958   10,190   8,507     30,876   19,795  
    Net interest income         15,802   15,632   15,587     46,648   47,279  
    Provision for credit losses       277   412   588     554   1,186  
        Net interest income after provision for credit losses     15,525   15,220   14,999     46,094   46,093  
                             
    Noninterest income:                
      Service charges on deposit accounts       430   428   447     1,258   1,313  
      Mortgage banking, net       2,602   2,417   4,338     7,196   11,252  
      Interchange and ATM fees       662   640   643     1,865   1,861  
      Appreciation in cash surrender value of life insurance     1,038   320   382     1,646   1,165  
      Net loss on sale of available-for-sale securities       –   –   –     –   (222 )
      Other noninterest income       251   464   225     1,239   1,541  
        Total noninterest income       4,983   4,269   6,035     13,204   16,910  
                             
    Noninterest expense:                
      Salaries and employee benefits       9,894   10,273   10,837     29,885   31,614  
      Occupancy and equipment expense       2,134   2,104   1,956     6,337   6,100  
      Data processing       1,587   1,382   1,486     4,494   4,270  
      Advertising         277   316   340     846   930  
      Amortization         337   348   386     1,054   1,201  
      Loan costs         385   412   517     1,195   1,426  
      FDIC insurance premiums       295   284   301     878   862  
      Professional and examination fees       438   423   408     1,345   1,484  
      Other noninterest expense       1,923   1,765   1,644     5,576   5,311  
        Total noninterest expense       17,270   17,307   17,875     51,610   53,198  
                             
    Income before provision for income taxes       3,238   2,182   3,159     7,688   9,805  
    Provision for income taxes       529   444   524     1,343   1,913  
    Net income         $ 2,709 $ 1,738 $ 2,635   $ 6,345 $ 7,892  
                             
    Basic earnings per common share     $ 0.35 $ 0.22 $ 0.34   $ 0.81 $ 1.01  
    Diluted earnings per common share     $ 0.34 $ 0.22 $ 0.34   $ 0.81 $ 1.01  
                             
    Basic weighted average shares outstanding       7,836,921   7,830,925   7,784,279     7,830,947   7,787,987  
                             
    Diluted weighted average shares outstanding       7,860,138   7,845,272   7,791,966     7,848,196   7,792,593  
                             
    ADDITIONAL FINANCIAL INFORMATION   (Unaudited)  
    (Dollars in thousands, except per share data) Three or Nine Months Ended
          September 30, June 30, September 30,
            2024     2024     2023  
               
    Mortgage Banking Activity (For the quarter):      
      Net gain on sale of mortgage loans $ 1,691   $ 1,600   $ 3,591  
      Net change in fair value of loans held-for-sale and derivatives   159     12     (71 )
      Mortgage servicing income, net   752     805     818  
      Mortgage banking, net   $ 2,602   $ 2,417   $ 4,338  
               
    Mortgage Banking Activity (Year-to-date):      
      Net gain on sale of mortgage loans $ 4,705     $ 8,551  
      Net change in fair value of loans held-for-sale and derivatives   (2 )     234  
      Mortgage servicing income, net   2,493       2,467  
      Mortgage banking, net   $ 7,196     $ 11,252  
               
    Performance Ratios (For the quarter):      
      Return on average assets   0.51 %   0.33 %   0.51 %
      Return on average equity   6.56 %   4.30 %   6.63 %
      Yield on average interest earning assets   5.66 %   5.64 %   5.27 %
      Cost of funds     2.89 %   2.78 %   2.37 %
      Net interest margin   3.34 %   3.41 %   3.41 %
      Core efficiency ratio*   81.47 %   85.22 %   80.89 %
               
    Performance Ratios (Year-to-date):      
      Return on average assets   0.41 %     0.53 %
      Return on average equity   5.19 %     6.54 %
      Yield on average interest earning assets   5.59 %     5.07 %
      Cost of funds     2.78 %     1.94 %
      Net interest margin   3.36 %     3.57 %
      Core efficiency ratio*   84.47 %     81.01 %
               
    * The core efficiency ratio is a non-GAAP ratio that is calculated by dividing non-interest expense, exclusive of acquisition
    costs and intangible asset amortization, by the sum of net interest income and non-interest income.    
               
               
    ADDITIONAL FINANCIAL INFORMATION      
    (Dollars in thousands, except per share data)      
            (Unaudited)  
    Asset Quality Ratios and Data: As of or for the Three Months Ended
          September 30, June 30, September 30,
            2024     2024     2023  
               
      Nonaccrual loans   $ 3,859   $ 4,012   $ 7,753  
      Loans 90 days past due and still accruing   944     1,076     –  
      Total nonperforming loans     4,803     5,088     7,753  
      Other real estate owned and other repossessed assets   4     4     –  
      Total nonperforming assets   $ 4,807   $ 5,092   $ 7,753  
               
      Nonperforming loans / portfolio loans   0.31 %   0.34 %   0.53 %
      Nonperforming assets / assets   0.22 %   0.24 %   0.38 %
      Allowance for credit losses / portfolio loans   1.12 %   1.11 %   1.10 %
      Allowance for credit losses/ nonperforming loans   356.65 %   330.78 %   209.34 %
      Gross loan charge-offs for the quarter $ 22   $ 12   $ 122  
      Gross loan recoveries for the quarter $ 5   $ 10   $ 14  
      Net loan charge-offs for the quarter $ 17   $ 2   $ 108  
               
               
          September 30, June 30, September 30,
            2024     2024     2023  
    Capital Data (At quarter end):      
      Common shareholders’ equity (book value) per share $ 22.17   $ 21.23   $ 19.69  
      Tangible book value per share** $ 17.23   $ 16.25   $ 14.55  
      Shares outstanding   8,016,784     8,016,784     7,988,132  
      Tangible common equity to tangible assets***   6.56 %   6.33 %   5.75 %
               
    Other Information:        
      Average investment securities for the quarter $ 305,730   $ 306,207   $ 319,308  
      Average investment securities year-to-date $ 308,688   $ 310,168   $ 335,898  
      Average loans for the quarter **** $ 1,547,246   $ 1,513,313   $ 1,476,584  
      Average loans year-to-date **** $ 1,519,951   $ 1,506,303   $ 1,417,291  
      Average earning assets for the quarter $ 1,874,669   $ 1,837,418   $ 1,812,610  
      Average earning assets year-to-date $ 1,847,468   $ 1,833,867   $ 1,768,361  
      Average total assets for the quarter $ 2,116,839   $ 2,077,448   $ 2,052,443  
      Average total assets year-to-date $ 2,086,951   $ 2,072,013   $ 1,999,864  
      Average deposits for the quarter $ 1,622,254   $ 1,625,882   $ 1,602,770  
      Average deposits year-to-date $ 1,624,936   $ 1,625,826   $ 1,596,201  
      Average equity for the quarter $ 165,162   $ 161,533   $ 158,933  
      Average equity year-to-date $ 163,106   $ 162,084   $ 160,917  
               
    ** The tangible book value per share is a non-GAAP ratio that is calculated by dividing shareholders’ equity,  
    less goodwill and core deposit intangible, by common shares outstanding.      
    *** The tangible common equity to tangible assets is a non-GAAP ratio that is calculated by dividing shareholders’  
    equity, less goodwill and core deposit intangible, by total assets, less goodwill and core deposit intangible.  
    **** Includes loans held for sale      
           
    Reconciliation of Non-GAAP Financial Measures              
                           
    Core Efficiency Ratio     (Unaudited)     (Unaudited)  
    (Dollars in thousands)   Three Months Ended   Nine Months Ended  
              September 30, June 30, September 30,   September 30,  
                2024     2024     2023       2024     2023    
    Calculation of Core Efficiency Ratio:              
      Noninterest expense $ 17,270   $ 17,307   $ 17,875     $ 51,610   $ 53,198    
      Intangible asset amortization   (337 )   (348 )   (386 )     (1,054 )   (1,201 )  
        Core efficiency ratio numerator   16,933     16,959     17,489       50,556     51,997    
                           
      Net interest income   15,802     15,632     15,587       46,648     47,279    
      Noninterest income   4,983     4,269     6,035       13,204     16,910    
        Core efficiency ratio denominator   20,785     19,901     21,622       59,852     64,189    
                           
      Core efficiency ratio (non-GAAP)   81.47 %   85.22 %   80.89 %     84.47 %   81.01 %  
                           
    Tangible Book Value and Tangible Assets   (Unaudited)
    (Dollars in thousands, except per share data)   September 30, June 30, September 30,
                  2024     2024     2023  
    Tangible Book Value:            
      Shareholders’ equity     $ 177,730   $ 170,162   $ 157,270  
      Goodwill and core deposit intangible, net     (39,574 )   (39,908 )   (41,004 )
        Tangible common shareholders’ equity (non-GAAP) $ 138,156   $ 130,254   $ 116,266  
                     
      Common shares outstanding at end of period   8,016,784     8,016,784     7,988,132  
                     
      Common shareholders’ equity (book value) per share (GAAP) $ 22.17   $ 21.23   $ 19.69  
                     
      Tangible common shareholders’ equity (tangible book value)      
        per share (non-GAAP)     $ 17.23   $ 16.25   $ 14.55  
                     
    Tangible Assets:            
      Total assets       $ 2,145,113   $ 2,098,955   $ 2,063,064  
      Goodwill and core deposit intangible, net     (39,574 )   (39,908 )   (41,004 )
        Tangible assets (non-GAAP)   $ 2,105,539   $ 2,059,047   $ 2,022,060  
                     
      Tangible common shareholders’ equity to tangible assets      
        (non-GAAP)         6.56 %   6.33 %   5.75 %
                     
    Contacts: Laura F. Clark, President and CEO
      (406) 457-4007
      Miranda J. Spaulding, SVP and CFO
      (406) 441-5010  

    The MIL Network –

  • MIL-OSI: MEF Releases 2025 NaaS Industry Blueprint to Accelerate Innovation Across Automated Ecosystem

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Oct. 29, 2024 (GLOBE NEWSWIRE) —  MEF, a global industry association of network, cloud, security, and technology providers accelerating enterprise digital transformation, today announced the availability of its 2025 NaaS Industry Blueprint, outlining the next phase in the evolution of Network-as-a-Service.

    “Our 2025 NaaS Industry Blueprint unites industry stakeholders around a shared vision for NaaS and serves as a comprehensive guide for service providers to develop, deliver, and manage NaaS offerings across a standards-based automated ecosystem,” said blueprint author Stan Hubbard, Principal Analyst, MEF. “In the coming months, our focus is on deepening collaboration across the ecosystem to unlock the market’s full potential and meet the surging enterprise demand for high-performance, AI-driven, and cloud-optimized networks.”

    Enterprises are increasingly turning to NaaS, which is uniquely positioned to meet top priorities for digital transformation, including enhanced cybersecurity, cloud migration, and support for AI and GenAI workloads. MEF’s 2025 NaaS Industry Blueprint highlights how the rapid rise of GenAI has unlocked new NaaS-related revenue opportunities for service providers, particularly in multi-cloud environments.

    The 2025 NaaS Industry Blueprint serves as a foundational resource for service providers, cloud providers, technology suppliers, and other ecosystem participants, emphasizing the need for collaboration across multiple fronts to maximize market opportunities. The blueprint identifies key areas for alignment and collaboration, providing progress updates to guide companies in these efforts, including:

    • Unified Definition of NaaS: Establishes a clear definition of NaaS integrating on-demand connectivity, application assurance, cybersecurity, and multi-cloud networking within an automated ecosystem.
    • Key NaaS Features: Identifies 36 key features, including 20 essential customer-facing features highlighted in MEF’s NaaS Customer Experience white paper.
    • NaaS Use Cases: Explores customer requirements and service provider solutions for four core NaaS use cases—on-demand connectivity, SD-WAN, Secure Access Service Edge (SASE), and multi-cloud connectivity.
    • NaaS Automated Ecosystem: Reports progress on the NaaS automated ecosystem built on standardized services and Lifecycle Service Orchestration (LSO) APIs that automate business and operational functions between ecosystem participants.

    The blueprint also highlights MEF’s ongoing efforts to extend NaaS capabilities to enterprise customers, enabling organizations to leverage standardized MEF LSO APIs for greater control, flexibility, and visibility over their network environments. MEF’s recently released NaaS Customer Experience white paper identifies what enterprises can expect from NaaS offerings, including cloud-like scalability, dynamic connectivity, real-time performance insights, and enhanced cybersecurity.

    MEF’s test and certification programs play a pivotal role in accelerating NaaS adoption by building trust and ensuring interoperability across the ecosystem. Certification programs validate that service and technology providers meet the stringent requirements for delivering automation-ready NaaS services. As of October 2024, 15 technology and service providers have achieved MEF 3.0 certification for SASE and SD-WAN. Growing industry commitment to certified and standardized services provides enterprises and service providers with the confidence to invest in and deploy NaaS solutions at scale.

    The NaaS Industry Blueprint is available for download at MEF.net/NaaS. For more information about MEF standards, automation APIs, and certifications, visit MEF.net.

    About MEF
    MEF is a global consortium of service, cloud, cybersecurity, and technology providers collaborating to accelerate enterprise digital transformation. It delivers standards-based frameworks, services, technologies, APIs, and certification programs to enable Network-as-a-Service (NaaS) across an automated ecosystem. MEF is the defining authority for certified Lifecycle Service Orchestration (LSO) business and operational APIs and Carrier Ethernet, SASE, SD-WAN, Zero Trust, and Security Service Edge (SSE) technologies and services. MEF’s Global NaaS Event (GNE) convenes industry leaders building and delivering the next generation of NaaS solutions. For more information about MEF, visit MEF.net and follow us on LinkedIn and Twitter. 

    Media Contact:
    Melissa Power
    MEF
    pr@mef.net

    The MIL Network –

  • MIL-OSI: AutoScheduler Adds Vice President of Customer Success to Reinforce Focus on Successful Customer Implementations

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, Oct. 29, 2024 (GLOBE NEWSWIRE) — AutoScheduler.AI, an innovative Warehouse Orchestration Platform and WMS accelerator, announces that Ian Johnston has joined the company as the Vice President of Customer Success. He will replace Stephen Zujkowski, who is retiring. Ian has over a decade of experience in supply chain operations, logistics management, and strategic leadership. He will use his expertise to help AutoScheduler’s customers gain value and success from deploying AutoScheduler solutions. He will be the face of success for all AutoScheduler’s customers, ensuring the talented implementation team continues delivering exceptional services and fostering true partnerships.

    “As a leader within Amazon, Ian has demonstrated a deep understanding of operational planning and championed many technology implementations that enabled transformative changes within numerous operations,” says Keith Moore, CEO of AutoScheduler.AI. “His rich and diverse experience in leading and supporting innovation and a keen understanding of driving customer excellence make him a perfect fit for this pivotal role at AutoScheduler.AI.”

    “I am looking forward to setting new benchmarks for excellence in customer success with the best project delivery experiences, clear communications, and robust customer relationships, enabling AutoScheduler.AI to be the market leader in warehouse orchestration,” says Ian Johnston, Vice President, Customer Success, AutoScheduler.AI. “I am dedicated to driving value for clients through our innovative solutions and aligning AutoScheduler’s capabilities with customer needs.”

    As Vice President of Customer Success, Ian oversees the strategy, execution, and management of all aspects of customer deployment and satisfaction. He will ensure that customers derive maximum value from AutoScheduler, leading to improved fulfillment, better labor utilization, and lower costs. As the leader in the Customer Success organization, he will drive measurable positive business outcomes, customer satisfaction, retention, and expansion across the customer base.

    Before joining AutoScheduler.AI, Ian served as Director of Supply Chain at Amazon, overseeing North America’s largest heavy bulky logistics network, which included managing demand forecasting, capacity management, and product development for the U.S. and Canada. Ian’s leadership contributed to significant advancements in operational efficiency, including the development of several novel planning products that enhanced forecast accuracy and capacity flexibility, reducing Amazon’s cost to serve and improving delivery speeds. Prior to Amazon, Ian served as a Marine Infantry Officer, where he led combat operations in Afghanistan and deterrence operations in Southeast Asia. He later served at the White House, supporting two administrations and several high-profile events.

    Ian holds an MBA from the University of Virginia’s Darden School of Business, a BA in Political Science with a minor in Spanish from The Citadel, and is actively pursuing a Master of Science in Real Estate at the University of San Diego.

    About AutoScheduler.AI
    AutoScheduler.AI orchestrates warehouse activities directly on top of your WMS, optimizing operations for peak performance. Developed alongside industry leaders like P&G and successfully deployed at prominent companies such as Pepsi, General Mills, and Unilever, our AI and Machine Learning platform seamlessly integrates with your existing systems. Focused on labor planning, inventory workflow, human-robotics interaction, and space utilization, we streamline operations, reducing travel and inventory handling while maximizing OTIF rates and labor efficiency. With prescriptive analytics driving insights, our clients harness the power to enhance efficiencies and generate value across their supply chains. Reach out to us at info@autoscheduler.ai for more information.

    Contact:
    Becky Boyd
    MediaFirst PR
    Becky@MediaFirst.Net
    Cell: (404) 421-8497

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/199e4f06-1419-40e1-8665-b27f4eb199cd

    The MIL Network –

  • MIL-OSI: New CINQ by Coinstar™ Digital Wallet Launches Crypto and Stablecoin Capabilities Powered by Zero Hash

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Oct. 29, 2024 (GLOBE NEWSWIRE) — Zero Hash, the leading crypto and stablecoin infrastructure platform, today announced its partnership with Coinstar®, LLC, a global financial services leader, to embed crypto payments capabilities within CINQ by Coinstar™, a new digital wallet designed to expand how consumers use and manage their finances. This collaboration allows up to 9,500 of Coinstar’s 17,000+ network of kiosks across the U.S. to facilitate cash-to-crypto transactions.

    Through a partnership with Zero Hash, CINQ by Coinstar has launched with the initial ability to purchase cryptocurrency and stablecoins with cash at more than 9,500 Coinstar kiosks across the U.S., or through the CINQ by Coinstar mobile app. Users of the CINQ by Coinstar app, powered by Zero Hash, can seamlessly move in, out and between cash, stablecoins and crypto. A broader range of digital payment services for the CINQ by Coinstar wallet are expected to follow in 2025 as recently announced by Coinstar.

    The overarching objective of the partnership is to provide a seamless mechanism of dollar digitalization to the large percentage of underbanked and underserved households within the United States. Specifically: 

    • The unbanked who now have access to an electronic cash account
      • 6% of Adult Americans are unbanked; 24.6 million Americans are underbanked (Source: Fed Reserve, 2024)
    • The immigrant remitting money home
      • About half of all remittances are cash-based among the most common users (Source: Visa, 2023)

    “Zero Hash is delighted to partner with Coinstar, a household brand in money transformation for more than 30 years. Its vast network of self-serve kiosks and mobile apps will help further expand access to the underbanked and immigrants looking to remit funds. Upwards of 50% of remittances are cash-based and the multiple “hops” in remittance often mean these transfers incur high fees. Linking this cash infrastructure to the “network of networks” which is crypto and stablecoins, provides a key unlock for cheaper and quicker remittances for example,” said Edward Woodford, CEO and Founder at Zero Hash. “ CINQ by Coinstar has been able to seamlessly embed our regulatory compliant infrastructure to support new ways for cash-preferred customers to move safely and seamlessly between fiat and crypto use cases.”

    Powered by Zero Hash’s identity verification service, every customer is validated before cash can be entered into the kiosk for crypto, stablecoin and fiat transactions. Additional controls include Documentary Verification and Liveness Verification before certain services may be enabled. Users can buy over 25 crypto and stablecoin assets with paper currency at Coinstar kiosks in major grocery stores across North America as well as through the CINQ by Coinstar mobile app. Users can also connect multiple bank accounts, with Zero Hash’s platform facilitating USD deposits via ACH, allowing users to hold balances in cash or crypto and easily manage their financial needs.

    “Zero Hash has been an incredible partner in helping us extend our trusted services into the digital world,” said Kevin McColly, CEO of Coinstar. “Their secure and industry leading crypto and stablecoin infrastructure has allowed us to seamlessly bridge the gap between cash and cryptocurrency, making it easier for our customers to access and manage their finances.” 

    There are two ways to get started buying cryptocurrency through Zero Hash at Coinstar kiosks:

    1. Download the CINQ by Coinstar app, verify your account and visit a Coinstar kiosk with your cash. Or connect your bank account in the app and get started immediately.
    2. Visit a Coinstar kiosk, select cryptocurrency from the options and choose CINQ by Coinstar to get started with your crypto purchase through Zero Hash. Enter your mobile number at the kiosk and last 4 SSN or Date of Birth, then download the CINQ by Coinstar app and complete your account setup.

    To learn more about CINQ by Coinstar and follow along for additional product innovations, visit www.cinqwallet.com, or to find a CINQ by Coinstar enabled kiosk, visit our kiosk finder here.1 

    1: The CINQ by Coinstar wallet is available in all 50 states. However, Zero Hash enabled Kiosks are not currently available in all states, including the state of New York.  Transactional limits may also apply.

    About Zero Hash  
    Zero Hash is the leading crypto and stablecoin infrastructure provider that seamlessly connects fiat, crypto and stablecoins in one platform, enabling a better way to move and transfer money and value globally.

    Through its embeddable infrastructure, start-ups, enterprises and Fortune 500 companies build a diverse range of use cases: cross-border payments, commerce, trading, remittance, payroll, tokenization, wallets and on and off-ramps.

    Zero Hash Holdings is backed by investors, including Point72 Ventures, Bain Capital Ventures, and NYCA.

    Zero Hash LLC is a FinCen-registered Money Service Business and a regulated Money Transmitter that can operate in 51 US jurisdictions. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed to engage in virtual currency business activity by the New York State Department of Financial Services. In Canada, Zero Hash LLC is registered as a Money Service Business with FINTRAC.

    Zero Hash Australia Pty Ltd. is registered with AUSTRAC as a Digital Currency Exchange Provider, with DCE registered provider number DCE100804170-001.  This registration enables Zero Hash to offer its crypto services in Australia.  Zero Hash Australia Pty Ltd. is registered on the New Zealand register of financial service providers, with Financial Service Provider (FSP)  number FSP1004503.  A FSP in New Zealand is a registration and does not mean that Zero Hash Australia Pty Ltd. is licensed by a New Zealand regulator to provide crypto services.  Zero Hash Australia Pty Ltd.’s registration on the New Zealand register of financial service providers does not mean that Zero Hash Australia is subject to active regulation or oversight by a New Zealand regulator.  Zero Hash Europe B.V. is registered as a Virtual Asset Services Provider (VASP) registration by the Dutch Central Bank (Relation number: R193684).  Zero Hash Europe Sp. Zoo is registered as a VASP by the Tax Administration Chamber of Poland in Katowice (Registration number RDWW – 1212).

    Connect with Zero Hash
    Website | Twitter | LinkedIn | Medium

    Zero Hash Contact

    Shaun O’keeffe

    (855) 744-7333

    media@zerohash.com

    Zero Hash Disclosures
    Zero Hash services and product offerings, including the availability of kiosk services, may not be available in all jurisdictions. Zero Hash accounts are not subject to FDIC or SIPC protections, or any such equivalent protections that may exist outside of the US. Zero Hash’s technical support and enablement of any asset is not an endorsement of such asset and is not a recommendation to buy, sell, or hold any crypto asset. The value of any cryptocurrency, including digital assets pegged to fiat currency, commodities, or any other asset, may go to zero. Zero Hash is not registered with the SEC or FINRA. Zero Hash does not provide any securities services and is not a custodian of securities, including security tokens, on behalf of customers. 

    About Coinstar, LLC
    Coinstar® is a global leader in money transformation and the largest physical self-serve financial network with a digital wallet, CINQ by Coinstar. Through its digital wallet, mobile app and network of 24,000 kiosks in North America and Europe, Coinstar offers a wide range of financial services which enable users to transform their physical currency. Its reliable payment solutions offer one-stop shopping experiences at convenient kiosk locations including coin conversion to cash, NO FEE eGift cards and charitable donations as well as account transfer services powered by our bank partners. Users can also move money and transact more seamlessly in the digital world through CINQ by Coinstar with the ability to buy, sell and transfer cryptocurrencies in its initial rollout. For brand advertisers, Coinstar offers adPlanet™ Retail Media Group, which enables lead generation on the interactive kiosk screen and a digital out of home network that delivers advertising via high-definition screens on top of Coinstar kiosks at select retail and grocery locations. For more information on Coinstar, visit www.coinstar.com.

    The MIL Network –

  • MIL-OSI: 15 Leading Technology and Service Providers Achieve SASE Certification in Industry’s Only Independent Certification Program

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Oct. 29, 2024 (GLOBE NEWSWIRE) — MEF, a global consortium of network, cloud, security, and technology providers driving enterprise digital transformation, today announced significant advancements in its MEF 3.0 Secure Access Service Edge (SASE) Certification Program. Technology providers Fortinet and Versa have achieved full SASE certification, while service providers AT&T, BT, Colt, Comcast Business, Console Connect, Liberty Latin America, Lumen, Orange Business, TPG, and Verizon have also earned full SASE certification. Additionally, technology providers Broadcom Inc. and Palo Alto Networks, and service provider Sparkle, are expected to achieve full SASE certification shortly. Organizations that achieve SASE certification through MEF’s rigorous independent program receive a rating on product effectiveness and are listed in MEF’s registry of certified companies. SASE certification is now available to all MEF members.

    “As cyber threats continue to escalate in complexity and frequency, enterprises need absolute confidence in their security solutions,” said Nan Chen, Chief Executive Officer, MEF. “MEF’s independent SASE certification program provides that assurance, enabling organizations to choose validated solutions that protect their digital assets and support their transformation initiatives.”

    Validated Security for the Enterprise
    MEF’s comprehensive certification program addresses today’s critical cybersecurity threats through rigorous testing of SASE, which includes Software-Defined Wide Area Network (SD-WAN), Security Service Edge (SSE), and Zero Trust (ZT) capabilities. The program is delivered in partnership with CyberRatings.org (CRO), a world-class testing laboratory that ensures transparency and confidence in cybersecurity solutions.

    Technology providers must successfully complete all three certification modules to achieve full SASE certification. Service providers can achieve certification by integrating MEF-certified technology solutions, ensuring enterprise customers can trust the security and performance of their provider’s ecosystem.

    “Building secure, high-performing networks is critical to enterprise success,” said Pascal Menezes, Chief Technology Officer, MEF. “By achieving SASE certification, technology and service providers are proving their commitment to delivering reliable, scalable, and secure solutions.”

    Setting the Standard for Network Security
    The certification program validates compliance with MEF standards, including MEF SD-WAN (MEF 70.1) and industry-first standards for SASE (MEF 117) and Zero Trust (MEF 118). Certified solutions receive detailed ratings displayed in MEF’s certification registry, enabling enterprises to make informed decisions about their security investments.

    As SASE becomes central to Network-as-a-Service (NaaS) offerings, certified solutions give enterprises confidence in the cybersecurity embedded within their network environments. To help organizations navigate this landscape, MEF recently released its “State of the Industry Report: SASE – Validating Cyber Defense in an Era of Unprecedented Threats.“

    More information about MEF’s SASE certification program can be found here.

    SASE certifications and advancements will be featured at MEF’s Global Network-as-a-Service Event (GNE) from Oct 28–30, 2024, in Dallas, Texas. Visit gne.mef.net.

    About MEF
    MEF is a global consortium of service, cloud, cybersecurity, and technology providers collaborating to accelerate enterprise digital transformation. It delivers standards-based frameworks, services, technologies, APIs, and certification programs to enable Network-as-a-Service (NaaS) across an automated ecosystem. MEF is the defining authority for certified Lifecycle Service Orchestration (LSO) business and operational APIs and Carrier Ethernet, SASE, SD-WAN, Zero Trust, and Security Service Edge (SSE) technologies and services. MEF’s Global NaaS Event (GNE) convenes industry leaders building, delivering and consuming the next generation of NaaS solutions. For more information about MEF, visit MEF.net and follow us on LinkedIn, Twitter and YouTube. 

    Media Contact:
    Melissa Power
    MEF
    pr@mef.net

    Here’s what certified organizations have to say about the importance of certification.

    “It’s a tough environment for businesses: they’re facing wider attack surfaces and increasingly sophisticated threats, so it’s no surprise that many are looking to bolster their SD-WAN services with SASE’s advanced security features. MEF’s rigorous certification program gives businesses the peace of mind that comes from knowing their service providers meet the highest industry standards. At Colt, we’re very proud of our MEF 3.0 SASE Certification—it recognizes our ongoing commitment to delivering industry-leading customer experience while supporting our customers to improve their security posture.” – Tyler Hemmen, Vice President Enterprise Products and Solutions, Colt Technology Services

    “At Comcast Business, we are proud to be among the first to receive MEF 3.0 Secure Access Service Edge (SASE) Certification. This achievement highlights our dedication to providing advanced technology solutions that address the evolving needs of our customers. SASE-based services offer businesses a unified approach to security and network access, ensuring that their data is protected, and their operations remain seamless, regardless of location.” – Bob Victor, Senior Vice President of Customer Solutions, Comcast Business

    “At Console Connect, we’re thrilled to announce we’ve achieved MEF 3.0 SASE Certification, placing us among the first global NaaS providers to receive this certification. This validates our commitment to delivering secure and high-performance data-movement solutions to enterprises in over 100 countries. By leveraging SD-WAN, SSE, and Zero Trust, we offer enhanced security and operational efficiency for all enterprise data-movement needs. This certification isn’t just a win for Console Connect, it’s a step forward for the entire industry in defining and delivering enterprise-grade SASE solutions.” – Paul Gampe, Chief Technology Officer, Console Connect, MEF Board of Directors

    “Fortinet’s Unified SASE solution aligns perfectly with our founding principle of converging networking and security to help our customers reduce complexity, improve security, and centralize management. We’re proud to achieve the highest rating possible— a AAA rating— on the MEF 3.0 SASE Certification, which includes testing across SD-WAN, SSE, and Zero Trust. This recognition adds to our growing list of third-party validations and underscores our commitment to providing reliable, scalable, and innovative solutions for our customers.” – John Maddison, Chief Marketing Officer, Fortinet

     “Lumen is excited to reinforce our leadership within the MEF community by being among the first to achieve certification under the MEF 3.0 Secure Access Service Edge (SASE) standard. For customers leveraging Lumen’s Private Connectivity Fabric as their trusted multi-cloud interconnect, the ability to integrate robust, policy-driven overlay networks is a crucial value-added service that ensures enterprise-class security for diverse customer workloads.” – Carole Gridley, Senior Vice President of Product, Lumen

    “Delivering secure, scalable, and high-performance services to meet the digital infrastructure needs of enterprises is at the heart of everything we do at Orange Business. Achieving MEF 3.0 SASE Certification underscores our dedication to providing trusted and robust services that simplify network and security integration for our global customers. This certification validates our ability to deliver the total experience that is a priority for businesses today, especially given the dynamic cybersecurity landscape.” – Usman Javaid, Chief Products and Marketing Officer, Orange Business

    “MEF’s SASE certification testing is a game-changer for the industry, providing a rigorous, standardized framework to validate the security and performance of converged network solutions. This certification not only strengthens customer confidence but also ensures that vendors like Palo Alto Networks are meeting the highest benchmarks for Secure Access Service Edge technologies. By participating in MEF’s testing, we are positioning Palo Alto Networks as a leader in delivering trusted, high-quality solutions that drive innovation and reliability.” – Samaresh Nair, Director of Product Management, Palo Alto Networks

    “TPG Telecom is always committed to ensuring our network, design, and products meet the latest industry standards. Achieving the MEF 3.0 SD-WAN Certification enhances our operational efficiency, boosts our skills, and gives our customers added confidence in our expertise. This is a testament to our dedication to delivering high-quality, future-proof SD-WAN solutions to meet the dynamic needs of TPG Telecom’s customers.” – Marco Chan, General Manager of Technology, Enterprise, Government and Wholesale, TPG Telecom

    “We are delighted to be one of the first companies to achieve an AAA rating and full MEF certification for our SD-WAN, SSE, and ZTNA solutions. With global demand for SASE accelerating, real-world testing is essential for identifying the right products and technology as opposed to relying on vendor claims or qualitative analysis. The MEF 3.0 SASE Certification program delivers the concrete results and data to help organizations make informed decisions.” – Kelly Ahuja, Chief Executive Officer, Versa

    The MIL Network –

  • MIL-OSI Economics: A test of resolve: credible resolution following the 2023 banking turmoil

    Source: Bank for International Settlements

    Introduction

    I would like to welcome you all to the Resolution Conference 2024, the first that has been co-organised by the BIS Financial Stability Institute (FSI), the Financial Stability Board (FSB) and the International Association of Deposit Insurers (IADI). This event is motivated by the banking turmoil in March 2023. The 18 months that have passed since those events have given time to reflect seriously on it and derive some lessons. This conference provides an opportunity to take stock, compare notes and try to identify a productive way forward.

    Scene-setting

    It is now commonplace to say that the March 2023 failures of several US regional banks, followed a week later by the near failure of Credit Suisse, were the first meaningful test of the international resolution framework that was put in place following the Great Financial Crisis (GFC).

    The headline message is that large bank failures did not lead to a systemic crisis. Authorities managed them in an orderly manner with no ultimate loss to public funds. Creditors and shareholders bore losses. In the case of Credit Suisse, there was a significant writedown of loss-absorbing instruments. This is a noteworthy achievement, and stands in stark contrast to the GFC.

    The extensive work to put in place cross-border cooperative arrangements has demonstrably strengthened the financial system. The outcomes might have been very different without the planning and coordination that took place between home and host authorities, and the understanding and trust that have been developed.

    However, work remains to be done. The reports published last year by the FSB and IADI set out lessons learned for resolution and deposit insurance.1 They include the risk of faster failures, accelerated by digital technologies; the scope of resolution planning and requirements for loss-absorbing capacity (LAC); and flexibility in resolution strategies. Other reports, including by the Basel Committee on Banking Supervision, elaborate on the supervisory shortcomings and the vulnerabilities arising from large quantities of uninsured deposits. Work on all these issues is ongoing.

    In any case, I would like to concentrate my remarks on two elements of the bank resolution framework that I think must be tackled as we go forward. The first is the power to bail-in creditors as a key element of resolution strategies. The second is the need to put in place effective facilities for providing liquidity in resolution. The events of March 2023 highlighted the importance of both. They are also among the elements of a resolution framework that are most challenging to implement.

    The credibility of bail-in

    Bail-in powers are core to the resolution framework adopted after the GFC. Bail-in allows a systemically important bank to be recapitalised without the need to find a buyer for its business or to split up its operations, at least in the short term. Appropriate liabilities absorb losses without putting a failing bank into insolvency. Crucially, it is designed to ensure that a bank’s owners and investors, rather than depositors or taxpayers, bear the costs of resolution costs.

    In practice, a bail-in is a highly complex transaction involving multiple parties, and a huge amount of work has been carried out on how to execute it. A typical bail-in would involve multiple valuations; a mechanism to write down and cancel instruments, which are likely to be traded; and the issuance of new shares to the bailed-in debt holders. The process has been mapped out in detail by resolution authorities. However, a full bail-in strategy remains untested.

    Credit Suisse had a resolution strategy based on bail-in, and FINMA and key host authorities had prepared extensively to execute that strategy.

    In the end, the Swiss authorities chose not to follow the resolution playbook because they had another option that achieved their objectives: a state-brokered commercial merger of Credit Suisse and UBS. Nevertheless, the contractual writedown of all the outstanding Additional Tier 1 (AT1) capital instruments issued by Credit Suisse was a key element of the transaction. The writedown extinguished liabilities amounting to CHF 16 billion from the bank’s balance sheet.2

    Although the writedown was more limited than that planned under the full bail-in strategy for Credit Suisse, it demonstrates that bail-in is a core instrument in the crisis management framework. Contrary to what some commentators have feared, a substantial debt writedown is possible and can be executed without significant systemic disruption.

    Nevertheless, there are a few lessons to draw from this to reinforce that bail-in is credible and feasible.

    Flexible resolution toolkits

    First, authorities need flexibility. Planning is essential, but it cannot be prescriptive. We cannot know with absolute confidence in advance how a failure will happen and what actions will best safeguard financial stability. Accordingly, authorities need options so that they can shape their response to the circumstances of a failure. This implies a toolkit approach under which authorities can combine the use of different tools.

    The Credit Suisse transaction demonstrated that, even in the case of a global systemically important bank (G-SIB), bail-in may not be an exclusive strategy, but debt writedown could be a core element. Moreover, bail-in is not a tool exclusively for G-SIBs. For other banks, the writedown of liabilities in resolution can finance transfers of business and reduce the demands on industry-funded sources such as deposit insurance funds.

    Flexibility of this kind brings operational complexities. A toolbox approach means that authorities and firms need to accommodate different options in resolution planning. Banks will need the systems and capabilities to support those options. Key aspects of resolvability such as structure and LAC may become even more complex. However, an effective toolbox approach will further reduce the residual risk that public funds will be needed in crisis management.

    Loss-absorbing capacity

    Second, for bail-in to be credible banks must have liabilities that can be written down with legal certainty and without systemic impact. The FSB’s TLAC standard ensures this for G-SIBs. Some jurisdictions have extended similar requirements for LAC to other banks that could be systemic in failure.

    For example, the EU requirement for resolution-related LAC, the minimum requirement for own funds and eligible liabilities (MREL) – applies to all banks. The amount above the regulatory minimum required for individual banks is based on their resolution strategy. It aims to ensure that any bank that is expected to be resolved rather than wound up maintains LAC in sufficient quantity and quality to absorb losses and recapitalise it in resolution.

    The US financial regulators have consulted on a proposal to require banks with $100 billion or more in assets to maintain a layer of long-term debt. This additional LAC would be used, in the event of a bank’s failure, to absorb losses and increase the resolution options. It should also foster depositor confidence among uninsured deposits.

    The three US regional banks that failed in 2023 had little or no outstanding long-term debt. It has been observed elsewhere that if the proposed requirement had applied to Silicon Valley Bank and Signature Bank, they might have been resolved within the FDIC’s normal funding constraints, without a systemic risk exception being required.3

    If bail-in is to help fund resolution transfers, there need to be instruments that can be written down. The amounts are lower than that needed to recapitalise the bank and finance restructuring in a “pure” bail-in. Nevertheless, calibrating those requirements may be challenging.

    Moreover, meeting LAC requirements should not put banks’ legitimate business models in jeopardy. This is particularly relevant for banks that are predominantly deposit funded. A pragmatic way to alleviate the challenges for those banks is to take account of the resolution funding available from external sources, such as deposit insurance or resolution funds, when setting LAC requirements.4

    Liquidity for crisis management

    Let me turn now to liquidity for crisis management. Resolution powers can recapitalise a failing bank through bail-in. However, capital is not enough on its own. Without liquidity, the resolution will fail.

    Market funding will almost certainly not be available to a bank following its resolution until counterparty confidence can be restored. Resolution frameworks therefore require a credible source of liquidity, at the necessary scale and for a sufficient period of time to allow a resolved firm to return to market-based funding.

    This is recognised by the FSB, which has published two sets of guidance on funding in resolution. However, the arrangements in place vary considerably across jurisdictions and in many cases are not designed for the resolution needs of systemically important banks.

    The liquidity arrangements that were needed in the case of Credit Suisse support this point. The Swiss government had been working on a public liquidity backstop, but this was not yet in place in March 2023. Accordingly, the authorities had to adopt emergency legislation to enable the Swiss National Bank (SNB) to provide a liquidity facility of up to CHF 200 billion. Part of that lending was uncollateralised and coupled with a privileged bankruptcy status for the SNB and part was backed by a guarantee from the Swiss state.

    This case illustrates that ordinary central bank lending arrangements, including emergency liquidity assistance, may not be sufficient for resolution. The amount of liquidity needed by a systemically important bank will be considerable and required over an extended period. Moreover, lending may need to be secured against a wider range of assets or, in extreme circumstances, be uncollateralised. Arrangements for resolution funding must meet these needs. This implies a fiscal backstop to increase the firepower where that is needed.

    A fiscal backstop might appear to introduce a risk to public funds, something that the framework for ending “too big to fail” was designed to avoid. But the risks of loss to public funds should be low. It’s worth noting that all lending in relation to Credit Suisse was repaid, and no losses were incurred by the SNB or the Swiss state under its indemnity. If resolution is effective, the bank will be viable and the borrowing should be repaid.

    Concluding remarks

    I will end where I began. Financial crises provide a good opportunity to identify flaws or shortcomings in the policy framework. The March 2023 banking turmoil was the most significant banking crisis since the GFC and the subsequent policy reforms. Therefore, we should grasp this opportunity to draw lessons.

    Overall, authorities managed to preserve financial stability. In Switzerland, that was accomplished, despite the failure of a G-SIB, without any cost to the taxpayer. This was a remarkable achievement, and the resolution framework developed after the GFC contributed to that.

    But we also need to take note of the obstacles encountered in the process. In particular, it is clear that maximising the potential of bail-in and the provision of liquidity in resolution are pending tasks that need to be addressed.

    Work to do that is ongoing, and this conference is a small but significant part of that process. I am delighted that so many people have come to Basel to participate, and I expect productive discussions during the day.

    MIL OSI Economics –

  • MIL-OSI Economics: Frank Elderson: Finance and Biodiversity Day of 16th United Nations Conference on Biological Diversity (COP16) – transcript of video recording

    Source: Bank for International Settlements

    The global economy and finance need nature to survive. Analysis by the ECB shows that the economy depends critically on nature: 72% of non-financial businesses in the euro area – around 4.2 million individual companies – would experience significant problems as a result of ecosystem degradation. These businesses rely on ecosystem services like fertile soils, timber and clean water. And 75% of bank loans are tied to these businesses. So, if they run into trouble, the banks that finance them will too. This interdependence underscores why the ECB made nature one of the focus areas of its climate and nature plan for 2024 and 2025. It is also why we push banks under our supervision to manage all material nature-related risks.

    The ECB does not stand alone in recognising this threat. The value of nature for the economy is acknowledged by the global Network of Central Banks and Supervisors for Greening the Financial System, which has 141 members worldwide. Additionally, a recent stocktake by the Financial Stability Board showed that a growing number of policy authorities around the world are considering the potential implications of nature-related risks for financial stability.

    In recognition of the vital importance of nature for the economy, international fora must ensure that nature considerations are fully integrated into regulation and supervision, alongside ongoing efforts to account for climate-related considerations. This starts with identifying exposures and vulnerabilities to nature-related risks.

    While central banks and supervisors are not nature policymakers, we must take nature into account to fulfil our mandate of price stability and safe and sound banks. Otherwise, we risk failing to deliver on our mandate.

    My message on this Finance and Biodiversity Day is clear: if you destroy nature, you destroy the economy. The right conditions must be established for nature – and consequently the economy – to thrive. The economy needs nature to survive. Financial stability needs nature to survive. To deliver on our mandate, we need nature to survive. And the survival of nature requires financing. Therefore, your success here in Cali is vitally important.

    Thank you. Buena suerte.

    MIL OSI Economics –