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Category: KB

  • MIL-OSI Russia: NSU hosted a strategic session “Youth Laboratories: Uniting to Solve Regional and National Problems”

    MILES AXLE Translation. Region: Russian Federation –

    Source: Novosibirsk State University – Novosibirsk State University –

    The event is part of a series of strategic sessions aimed at forming a community of youth laboratory leaders, developing horizontal connections, and identifying problems that arise during the creation and operation of such research centers.

    The creation of youth laboratories is one of the activities for the implementation of the national project “Science and Universities”. The main goal of the organized strategy sessions is to determine the role of youth laboratories in the Strategy for Scientific and Technological Development of the Russian Federation.

    The strategic session, which took place at NSU, brought together 115 heads of youth laboratories from different cities of the Siberian Federal District – Novosibirsk, Krasnoyarsk, Irkutsk and others.

    Deputy Governor of the Novosibirsk Region Irina Manuilova took part in the session; she spoke about the importance of supporting youth laboratories at the regional level to achieve technological sovereignty and solve the problems of the Decade of Science and Technology:

    — Youth laboratories are an opportunity for young people to find their place, find employment and come to science. Therefore, at the regional level, last year we created three youth laboratories at the expense of the regional budget, we support them and will continue to finance them. We will create another laboratory in 2025. The main thing is that these youth laboratories produce results – the development of the relevant topics that they have chosen and their promotion. This will make a real contribution to the economy and fundamental science. And those very young researchers, who we need like air now, play a huge role in this process in order to fulfill all the tasks that the time and our President set for us.

    The rector of NSU, academician of the Russian Academy of Sciences Mikhail Fedoruk addressed the participants with a welcoming speech:

    — The university turned 65 this year. On September 28, 1959, the first 308 students began their studies. Since then, of course, the university has grown a lot: now NSU has more than 8,500 students in 6 faculties and 4 institutes. The university is a participant in all major federal development programs, including the national project “Science and Universities”, we have 7 youth laboratories. I wish you a successful strategic session, to get the most useful things out of it, to find new friends and get a lot of positive impressions.

    Speaking about the objectives of the session, Alina Pavlova, Head of Department at the Federal State Budgetary Institution “Directorate of Scientific and Technical Programs”, member of the Corresponding Council, PhD in Chemical Sciences, and moderator of the session, noted:

    — This strategic session is aimed at identifying the problems, raising the acute issues that you encountered during the implementation of this support measure. And identifying your proposals on how to improve the mechanisms for its implementation. It is important for us that this support measure is convenient, useful, and that it really works to attract young people to science.

    During discussions in interdisciplinary teams, participants identified the most pressing issues, the solution of which will allow them to draw up an effective plan for the development of youth laboratories. Important results included the preparation of proposals for improving work and the development of a comprehensive and systematic approach.

    The leaders of the youth laboratories met with each other, talked, exchanged experiences and proposed creating a platform for further ongoing interaction.

    Irina Chugueva, Deputy Director of the Department for Coordination of Activities of Scientific Organizations of the Ministry of Science and Higher Education of the Russian Federation, summing up the session, noted:

    — Colleagues, I am really very glad that you have gathered here. It is very important that you have now communicated and seen each other. I hope that such horizontal connections will emerge that can have a very good effect in the future. Regarding the creation of a common platform for discussion — it is a very good idea. There really should be some kind of resource, an electronic platform where all the heads of youth laboratories can communicate.

    The series of events “Youth Laboratories: Uniting to Solve Regional and National Problems” started on October 8 in Vladivostok. The final strategic session aimed at summarizing the results will be held from November 12 to 14 in Moscow. In the future, a round table dedicated to the development of the youth laboratories project is planned to be held within the framework of the IV Congress of Young Scientists.

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

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

    http://vvv.nsu.ru/n/media/nevs/science/strategic-session-youth-laboratories-uniting-to-solve-problems-reg/

    MIL OSI Russia News –

    January 23, 2025
  • MIL-OSI Russia: Dmitry Patrushev held a meeting with the head of the Mari El Republic Yuri Zaitsev

    MILES AXLE Translation. Region: Russian Federation –

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

    Dmitry Patrushev held a meeting with the head of the Mari El Republic Yuri Zaitsev

    October 15, 2024

    Dmitry Patrushev held a meeting with the head of the Mari El Republic Yuri Zaitsev

    October 15, 2024

    Dmitry Patrushev held a meeting with the head of the Mari El Republic Yuri Zaitsev

    October 15, 2024

    Previous news Next news

    Dmitry Patrushev held a meeting with the head of the Mari El Republic Yuri Zaitsev

    Deputy Prime Minister Dmitry Patrushev held a working meeting with the head of the Mari El Republic Yuri Zaitsev. The parties discussed the development of the agro-industrial complex and rural areas, the results of the harvesting campaign, and the implementation of the national project “Ecology” in the Mari El Republic.

    In particular, the discussion focused on the completion of the reconstruction and construction of treatment facilities within the framework of the federal project “Volga Recovery”, as well as the prospects for further work in this area.

    Dmitry Patrushev noted that the region can take part in events to modernize and reconstruct treatment facilities within the framework of the federal project “Water of Russia”. The competitive selection of applications will be held in January – February 2025. At the same time, he emphasized that one of the main selection criteria is co-financing from the regional budget or extra-budgetary funds.

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

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

    http://government.ru/nevs/52996/

    MIL OSI Russia News –

    January 23, 2025
  • MIL-OSI Global: Rain may have helped form the first cells, kick-starting life as we know it

    Source: The Conversation – USA – By Aman Agrawal, Postdoctoral Scholar in Chemical Engineering, University of Chicago Pritzker School of Molecular Engineering

    How did early cells keep themselves distinct while allowing for some amount of exchange? UChicago Pritzker School of Molecular Engineering/Peter Allen, Second Bay Studios, CC BY-ND

    Billions of years of evolution have made modern cells incredibly complex. Inside cells are small compartments called organelles that perform specific functions essential for the cell’s survival and operation. For instance, the nucleus stores genetic material, and mitochondria produce energy.

    Another essential part of a cell is the membrane that encloses it. Proteins embedded on the surface of the membrane control the movement of substances in and out of the cell. This sophisticated membrane structure allowed for the complexity of life as we know it. But how did the earliest, simplest cells hold it all together before elaborate membrane structures evolved?

    In our recently published research in the journal Science Advances, my colleagues from the University of Chicago and the University of Houston and I explored a fascinating possibility that rainwater played a crucial role in stabilizing early cells, paving the way for life’s complexity.

    The origin of life

    One of the most intriguing questions in science is how life began on Earth. Scientists have long wondered how nonliving matter like water, gases and mineral deposits transformed into living cells capable of replication, metabolism and evolution.

    Chemists Stanley Miller and Harold Urey at the University of Chicago conducted an experiment in 1953 demonstrating that complex organic compounds – meaning carbon-based molecules – could be synthesized from simpler organic and inorganic ones. Using water, methane, ammonia, hydrogen gases and electric sparks, these chemists formed amino acids.

    The Miller-Urey experiment showed that complex organic compounds can be made from simpler organic and inorganic materials.
    Yoshua Rameli Adan Perez/Wikimedia Commons, CC BY-SA

    Scientists believe the earliest forms of life, called protocells, spontaneously emerged from organic molecules present on the early Earth. These primitive, cell-like structures were likely made of two fundamental components: a matrix material that provided a structural framework and a genetic material that carried instructions for protocells to function.

    Over time, these protocells would have gradually evolved the ability to replicate and execute metabolic processes. Certain conditions are necessary for essential chemical reactions to occur, such as a steady energy source, organic compounds and water. The compartments formed by a matrix and a membrane crucially provide a stable environment that can concentrate reactants and protect them from the external environment, allowing the necessary chemical reactions to take place.

    Thus, two crucial questions arise: What materials were the matrix and membrane of protocells made of? And how did they enable early cells to maintain the stability and function they needed to transform into the sophisticated cells that constitute all living organisms today?

    Bubbles vs droplets

    Scientists propose that two distinct models of protocells – vesicles and coacervates – may have played a pivotal role in the early stages of life.

    Miniature compartments, such as lipid bilayers configured into capsules like liposomes and micelles, are important for cellular organization and function.
    Mariana Ruiz Villarreal, LadyofHats/Wikimedia Commons

    Vesicles are tiny bubbles, like soap in water. They are made of fatty molecules called lipids that naturally form thin sheets. Vesicles form when these sheets curl into a sphere that can encapsulate chemicals and safeguard crucial reactions from harsh surroundings and potential degradation.

    Like miniature pockets of life, vesicles resemble the structure and function of modern cells. However, unlike the membranes of modern cells, vesicle protocells would have lacked specialized proteins that selectively allow molecules in and out of a cell and enable communication between cells. Without these proteins, vesicle protocells would have limited ability to interact effectively with their surroundings, constraining their potential for life.

    Coacervates, on the other hand, are droplets formed from an accumulation of organic molecules like peptides and nucleic acids. They form when organic molecules stick together due to chemical properties that attract them to each other, such as electrostatic forces between oppositely charged molecules. These are the same forces that cause balloons to stick to hair.

    One can picture coacervates as droplets of cooking oil suspended in water. Similar to oil droplets, coacervate protocells lack a membrane. Without a membrane, surrounding water can easily exchange materials with protocells. This structural feature helps coacervates concentrate chemicals and speed up chemical reactions, creating a bustling environment for the building blocks of life.

    Thus, the absence of a membrane appears to make coacervates a better protocell candidate than vesicles. However, lacking a membrane also presents a significant drawback: the potential for genetic material to leak out.

    Unstable and leaky protocells

    A few years after Dutch chemists discovered coacervate droplets in 1929, Russian biochemist Alexander Oparin proposed that coacervates were the earliest model of protocells. He argued that coacervate droplets provided a primitive form of compartmentalization crucial for early metabolic processes and self-replication.

    Subsequently, scientists discovered that coacervates can sometimes be composed of oppositely charged polymers: long, chainlike molecules that resemble spaghetti at the molecular scale, carrying opposite electrical charges. When polymers of opposite electrical charges are mixed, they tend to attract each other and stick together to form droplets without a membrane.

    Coacervate droplets resemble oil suspended in water.
    Aman Agrawal, CC BY-SA

    The absence of a membrane presented a challenge: The droplets rapidly fuse with each other, akin to individual oil droplets in water joining into a large blob. Furthermore, the lack of a membrane allowed RNA – a type of genetic material thought to be the earliest form of self-replicating molecule, crucial for the early stages of life – to rapidly exchange between protocells.

    My colleague Jack Szostak showed in 2017 that rapid fusion and exchange of materials can lead to uncontrolled mixing of RNA, making it difficult for stable and distinct genetic sequences to evolve. This limitation suggested that coacervates might not be able to maintain the compartmentalization necessary for early life.

    Compartmentalization is a strict requirement for natural selection and evolution. If coacervate protocells fused incessantly, and their genes continuously mixed and exchanged with each other, all of them would resemble each other without any genetic variation. Without genetic variation, no single protocell would have a higher probability of survival, reproduction and passing on its genes to future generations.

    But life today thrives with a variety of genetic material, suggesting that nature somehow solved this problem. Thus, a solution to this problem had to exist, possibly hiding in plain sight.

    Rainwater and RNA

    A study I conducted in 2022 demonstrated that coacervate droplets can be stabilized and avoid fusion if immersed in deionized water – water that is free of dissolved ions and minerals. The droplets eject small ions into the water, likely allowing oppositely charged polymers on the periphery to come closer to each other and form a meshy skin layer. This meshy “wall” effectively hinders the fusion of droplets.

    Next, with my colleagues and collaborators, including Matthew Tirrell and Jack Szostak, I studied the exchange of genetic material between protocells. We placed two separate protocell populations, treated with deionized water, in test tubes. One of these populations contained RNA. When the two populations were mixed, RNA remained confined in their respective protocells for days. The meshy “walls” of the protocells impeded RNA from leaking.

    In contrast, when we mixed protocells that weren’t treated with deionized water, RNA diffused from one protocell to the other within seconds.

    Inspired by these results, my colleague Alamgir Karim wondered if rainwater, which is a natural source of ion-free water, could have done the same thing in the prebiotic world. With another colleague, Anusha Vonteddu, I found that rainwater indeed stabilizes protocells against fusion.

    Rain, we believe, may have paved the way for the first cells.

    Droplets with meshy walls resist fusion and prevent leakage of their RNA. In this image, each color represents a different type of RNA.
    Aman Agrawal, CC BY-SA

    Working across disciplines

    Studying the origins of life addresses both scientific curiosity about the mechanisms that led to life on Earth and philosophical questions about our place in the universe and the nature of existence.

    Currently, my research delves into the very beginning of gene replication in protocells. In the absence of the modern proteins that make copies of genes inside cells, the prebiotic world would have relied on simple chemical reactions between nucleotides – the building blocks of genetic material – to make copies of RNA. Understanding how nucleotides came together to form a long chain of RNA is a crucial step in deciphering prebiotic evolution.

    To address the profound question of life’s origin, it is crucial to understand the geological, chemical and environmental conditions on early Earth approximately 3.8 billion years ago. Thus, uncovering the beginnings of life isn’t limited to biologists. Chemical engineers like me, and researchers from various scientific fields, are exploring this captivating existential question.

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

    – ref. Rain may have helped form the first cells, kick-starting life as we know it – https://theconversation.com/rain-may-have-helped-form-the-first-cells-kick-starting-life-as-we-know-it-238291

    MIL OSI – Global Reports –

    January 23, 2025
  • MIL-OSI Global: This course explores the history of contested presidential elections

    Source: The Conversation – USA – By Sarah J. Purcell, Professor of History, Grinnell College

    The 2000 election featuring George W. Bush and Al Gore was ultimately decided by the Supreme Court. Tannen Maury via Getty Images

    Uncommon Courses is an occasional series from The Conversation U.S. highlighting unconventional approaches to teaching.

    Title of course:

    Contested U.S. Presidential Elections

    What prompted the idea for the course?

    I was looking for a way to make history relevant to students. Since I research and teach a lot about U.S. politics, I decided to focus on presidential elections that had contested results. Contested elections have happened when candidates failed to win a majority of electoral votes, meaning the House of Representatives had to decide the election; when electoral votes themselves were contested; when problems with vote counts necessitated courts intervening in an election; or when states or candidates refused to accept the results.

    Coming out of 2020, I saw a lot of anxiety among students – and in society in general – about gearing up for the 2024 election. Offering historical context seemed like a good way to enrich students’ current civic engagement.

    What does the course explore?

    We are studying the most-contested U.S. presidential elections: 1800, 1824, 1860, 1876, 2000 and 2020.

    Candidates failed to win a majority of electoral votes in 1800 and 1824. Sectional rancor over slavery caused states to reject the results in 1860. Disputed electoral votes in 1876 led to a political compromise that resolved the electoral votes in favor of Rutherford B. Hayes in exchange for ending Reconstruction.

    Problems with vote counting in Florida in 2000 led the Supreme Court to essentially decide the election in Bush v. Gore. And most recently in 2020, then-President Donald Trump disputed the results unsuccessfully.

    We are covering a wide swath of U.S. political history in just eight weeks. Students are also writing a blog for public audiences and submitting other public writing, like op-ed pieces, to stretch their own historical thinking and communication skills and help the public contextualize the present election.

    Why is this course relevant now?

    People are asking whether U.S. democracy can survive the 2024 election. Students are learning how the system has been shaped by previous crises in legitimacy.

    One example is when the electoral tie between Thomas Jefferson and Aaron Burr in 1800 led to the ratification of the 12th Amendment that established separate electoral votes for the president and vice president. The worst crisis came when Southern states rejected Abraham Lincoln’s election in 1860 and decided to secede from the United States, leading to the Civil War.

    What’s a critical lesson from the course?

    History can’t predict the future, but it can provide key context to understand the present. The U.S. electoral system has weaknesses, such as the Electoral College, built in by the Constitution, but the acceptance of the results by losers has been a key to U.S. political stability through many different contested elections over time. Before 2020, no presidential candidate had ever contested the final election results.

    For instance, Andrew Jackson won both the popular vote and a plurality of the Electoral College vote in 1824, but Jackson accepted John Quincy Adams as the legitimate president when the House of Representatives decided the winner. Jackson, however, accused Speaker of the House Henry Clay of a “corrupt bargain” to hand Adams the presidency in return for appointing Clay as secretary of state. Jackson still recognized Adams as the legitimate president but beat him badly in the next election in 1828.

    What materials does the course feature?

    The students have analyzed scholarly articles and many primary sources, mostly collected by the Library of Congress. Several important books have also shaped their thinking: Jim Downs’ 2024 “January 6 and the Politics of History”; E. J. Dionne and William Kristol’s 2001 “Bush v. Gore: The Court Cases and the Commentary”; and Kate Cote Gillin’s 2014 “Shrill Hurrahs: Women, Gender, and Racial Violence in South Carolina, 1865-1900.”

    What will the course prepare students to do?

    Students in the class are using historical skills and ways of thinking to help themselves, their friends and anyone else to put the current election into perspective. They are all doing final projects that use what they’ve learned in class to communicate with the public through op-eds, social media projects, websites and other creative projects in the lead-up to the 2024 election. They are prepared for their own civic engagement and with skills in journalism and public communication.

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

    – ref. This course explores the history of contested presidential elections – https://theconversation.com/this-course-explores-the-history-of-contested-presidential-elections-240420

    MIL OSI – Global Reports –

    January 23, 2025
  • MIL-OSI United Kingdom: Attorney General’s 2024 Bingham Lecture on the rule of law

    Source: United Kingdom – Executive Government & Departments

    On 14 October 2024, the Attorney General Lord Hermer KC delivered the 2024 Bingham Lecture titled ‘The Rule of Law in an Age of Populism’.

    Location:
    The Honourable Society of Gray’s Inn
    Delivered on:
    14 October 2024 (Original script, may differ from delivered version)

    Opening remarks

    Thank you Helena for that introduction.  It is a particular privilege to be introduced by a friend who I admire and respect so much and by someone who has spent a lifetime promoting the rule of law and protecting human rights.      

    Thank you also to the Bingham Centre for inviting me to speak to you this evening.

    For nearly fifteen years, the Bingham Centre has been an essential voice for the advancement of rule of law values at home and abroad. Its work to promote a better understanding of the rule of law and to help build the capacity to give it practical effect, has never been more vital than it is today.

    It is a record of which Tom Bingham, in whose name I am honoured to give this lecture, would surely have been proud. It is wonderful to see so many of his family here tonight, Lady Bingham, Dame Kate, Kit and Mary.

    Lord Bingham’s judicial and non-judicial writing, his stature as one of the great postwar judges, has been an inspiration for generations of lawyers, myself very much included.  I had the privilege of appearing in front of Lord Bingham as a junior in a series of interesting cases before the House of Lords in which I was led by a promising young silk called Keir Starmer. 

    But like many in this audience I also felt a personal tie to Tom Bingham.  I applied for silk in 2009 and Lord Bingham was one of my referees but sadly my father, who was a lawyer, died shortly before my appointment.  My sense of loss at not being able to share the news with my dad was softened by the fact that before he died I was able to show him a letter that Lord Bingham had written to me.  The letter was filled with the warmth and support that many who knew Tom Bingham will recognise. Thus I will always feel a very personal debt of gratitude to him for the joy and pride that his letter gave to my dad.   

    It was in his cogent and elegant account of the rule of law that Tom Bingham encapsulated in his eight principles.  Such was the authority and clarity of his analysis that the principles are now a necessary reference point for any discussion (or indeed speech) on the subject.

    As Sir Jeffrey Jowell put it when he spoke at the launch of this Centre back in December 2010:

    Tear open the Bingham package of requirements for the rule of law and, as each of his ingredients falls away, we progressively observe the stark outlines of tyranny- at worst; or authoritarianism – at best.

    That remark has a particular resonance today. And what better illustration of the enduring contribution of that book could there be than the sight, earlier this year, of its Ukrainian translation being launched in Kyiv, on the frontline of the ongoing struggle for democratic, rules-based values.

    Introduction: setting the scene, and the challenge

    As that scene attests, we are living through uncertain and challenging times, with threats to the rule of law on a number of fronts.

    This evening, I would like to talk about the necessary response to these challenges, through restoration of our reputation as a country that upholds the rule of law at every turn and by embedding resilience to rebuff the populist challenge. 

    Restoration and resilience.  I’m going to begin by setting out the nature of the challenge as well as proffering some thoughts on the relationship between the rule of law, democracy and human rights.  I will then turn to three themes that I consider lie at the heart of the restoration and resilience project firstly, the rebuilding our reputation as a leader in the field of international law and the international rules based order; secondly, the strengthening of Parliament’s role in upholding the rule of law and thirdly the promotion of a rule of law culture.

    Our starting point is not a happy one.  Conflict currently affects more countries than at any time since the Second World War. As too many people around the world are driven from their homes by wars and instability, there is a sense of an international system that is unable to act. That is unable to prevent wars of aggression and to address desperate humanitarian need.

    As the Prime Minister said at the General Assembly in New York, those “institutions of peace” that the UK and others worked so hard to establish after the horrors of the Second World War are struggling. Those rules that we have all worked so hard to maintain are being undermined. And faith in international law, and the international rule of law, is being chiselled away in communities who are told, time and again, that the system is failing to deliver for them.

    The challenges we face are increasingly global – whether the development of AI, the threat of climate change, growing inequality, or increased migration – and we need a functioning global order, underpinned by a strong commitment to the rule of law, to even begin to tackle them.

    At home, too, we cannot afford to be complacent about the extent to which values that once were taken for granted have been undermined. A near decade of crisis and political instability has, at times, stretched the fabric of our constitution to its limit.  I don’t wish to make a party political speech, indeed I am determined to make the promotion of the rule of law a project we can all sign up to irrespective of our political allegiance. 

    At a time when there is a desperate need for cooperation and solutions, we are increasingly confronted by the divisive and disruptive force of populism. This is not a new phenomenon. But in recent years we have grown accustomed to diagnosing its symptoms, on both right and left.

    We face leaders who see politics as an exercise in division; who appeal to the ‘will of the people’ (as exclusively interpreted by them) as the only truly legitimate source of constitutional authority.

    Their rhetoric conjures images of a conspiracy of ‘elites’; an enemy that is hard to define, but invariably including the people and independent institutions who exercise the kind of checks and balances on executive power that are the essence of liberal democracy and the rule of law. Judges. Lawyers. A free press. NGOs. Parliament. The academy. An impartial and objective civil service.  Populists work to diminish their legitimacy or, at worst, actively remove them from the scene altogether.

    Allied to this, we have also seen how populism, in its most pernicious forms, works to demonise other groups, usually minorities – to discredit the legal frameworks and institutions that guarantee their rights, and dismantle, often through calculated misinformation, the political consensus that underpins them.

    The argument

    Times of crisis and challenge are fertile ground for this kind of politics. And they can create a receptive audience for the populists’ argument that the rule of law is somehow in tension with democratic values.

    It is this dynamic that I want to address in tonight’s speech – I want to argue that this is precisely the time for us to reaffirm that the rule of law – both domestically and internationally – is the necessary precursor to those democratic values, providing the foundations for political and economic flourishing.

    And I want to be clear that by the rule of law, I do not just mean rule by law; a purely procedural and formal conception that populists and authoritarians can themselves so often use as a cloak of legitimacy.

    One of Lord Bingham’s great contributions was to promote a more substantive conception of the rule of law, including the idea that the law must afford adequate protection of fundamental human rights. I too believe that human rights – both at the level of principle, and in practice through how they are enforced – are an essential element of the rule of law and a stable democratic culture. As well as recognising and protecting the dignity of all, they guarantee the essential rights and freedoms which underpin our system.

    Far from being at odds with democracy, as some populists would have us believe, the rule of law is the bedrock on which it rests. What good is democracy – indeed, can democracy exist – without the right to free and fair elections or freedom of speech, guaranteed by the right of access to the courts and an independent judiciary? And I would go further. Democracy, in my view, is inextricably related to the rule of law, properly understood. For what good is the rule of law without democracy, which confers essential legitimacy on the rules that govern the relationship between citizen and state?

    Lord Bingham’s conception of the rule of law also recognises that international law is the ‘Rule of Law’ writ large, and that States must comply with their international obligations, just as they must comply with domestic law. This, too, is crucial. International law is not simply some kind of optional add-on, with which States can pick or choose whether to comply. It is central to ensuring our prosperity and security, and that of all global citizens.  As will develop later, our reputation as a country that can trusted to comply with its international law obligations, and has a robust adherence to the rule of law, is essential to our ability to grow the economy, as grow it we shall.

    And maintaining our international reputation also enhances our ability to work with our partners to get things done in this time of global challenge. Rather than isolating ourselves from our closest allies, it means we can strengthen cooperation on issues like migration; whether that’s the Anti-Smuggling Action Plan, which the Home Secretary secured with G7 partners in Italy earlier this month; or closer working with international law enforcement partners to target smuggling gangs.

    To shore up the rule of law against the forces of populism, we must also emphasise its importance as an idea that unites, rather than divides us. The work to rebuild a political consensus around these values will not be easy. It must be proactive, cross-party and internationalist. It must be sensitive to any legitimate reasons why people have lost faith in the rule of law and its institutions. It will require patient, long-term thinking, hard work and consistent commitment to build the necessary coalitions, and to produce and implement detailed policy proposals.

    So, to meet these challenges it is my view that we need to take immediate steps to restore the UK’s reputation as a rule of law leader whilst at the same time also seek to build and secure the rule of law’s long term resilience in the face of threats known and unknown, domestic and international.

    Restoration and resilience.  Restoration and resilience.  In this speech, I want to talk about three themes that will guide this Government in this project.  As I outlined earlier, my first theme, is rebuilding the UK’s international rule of law leadership before turning next to the role of Parliament and then finally embedding a rule of law culture.

    Theme 1: rebuilding the UK’s international rule of law leadership

    The UK’s international rule of law leadership.

    Historically, the UK has been a leader in developing and promoting international law and the institutions on which its effectiveness depends. British lawyers and politicians have been at the forefront of drafting and negotiating the most important treaties that underpin our international legal system and building the institutional machinery that breathes life into those paper agreements.

    The UK will again demonstrate that leadership – so essential in today’s highly-connected, but highly fragmented, world – and sadly so absent in recent years.

    That starts by clearly, and without question, honouring our obligations under international law.

    Since taking office, this Government has already taken steps to uphold those obligations and demonstrate our deep commitment to international law. We have reached agreement with Mauritius to settle the historic sovereignty claims over BIOT/Chagos Archipelago in a manner that successfully marries our international law obligations with vital national security requirements; we have applied our IHL obligations by compliance with our arms licensing criteria – applying law not politics; we have made plain our commitment to our cornerstone international institutions not least the ICJ and ICC.

    And we will continue to abide by and unequivocally support the European Convention on Human Rights, including by complying with requests from the Court for interim measures. Walking, or threatening to walk away, would be a total abdication of our international law responsibilities and send out precisely the wrong message at a time when the rule of law is under threat in so many places.

    But we will go further than simply meeting our obligations under the Convention specifically and international law generally – that we will do so should go without saying. My point is that the UK will once again be a champion for international courts and institutions, taking positive steps to promote their importance and to rebuild the respect for them that the populists have sought to destroy.  As the Prime Minister has said, having discovered the Convention in a law library in Leeds some 40 years ago, the rights it sets out speak about the dignity of every human being, and are a source of inspiration from which we can all draw strength and value.

    After the First World War, the UK championed the establishment of a Permanent Court of International Justice. British Judges sitting in that Court and many subsequent international courts and tribunals have delivered judgments that have brought clarity to all areas of international law.

    I am therefore delighted that the UK National Group has announced its intention to nominate Professor Dapo Akande – who will be well known to many in this room – as the UK’s candidate for election to the International Court of Justice in 2026. I cannot think of a better representative for the UK’s expertise in international law and I am delighted to personally endorse Dapo’s campaign.

    And it is through international courts that we hope to finally see justice for Ukraine. I have dedicated my professional life to fighting for justice and accountability, and nowhere was the need for that more apparent than in my recent visit to Ukraine. I was profoundly struck by the stories I heard at Bucha’s cathedral and in Irpin.

    Despite the unimaginable suffering that the people of Ukraine have endured, they remain clear-eyed about the importance of the international rule of law and accountability. I – and the whole Government – remain steadfast in our support for Ukraine, on the battlefield and in the courtroom. This includes support for work towards establishing a Special Tribunal on the Crime of Aggression against Ukraine.

    But these systems, and the promise offered by international law, only work when we work in partnership with our friends and partners around the world.

    In many parts of the world, especially in the Global South, the international rules-based order and human rights are often seen as imperialist constructs, selectively invoked by western governments when it suits their interests. It is incumbent upon us to first, listen, to those who feel unheard. And secondly, to demonstrate – not just with warm words, but with concrete actions – that international law can deliver real benefits to all. And those actions must be consistent, we must show that we will hold ourselves to the highest standards.

    We will advocate for reform of the Security Council, to ensure that those with seats at the top table truly represent the global community. That means permanent representation from Africa, from Brazil, India, Japan and Germany.  And our approach to international development will show that we have learnt the lessons of history that, to be sustainable, the rule of law cannot be imposed on developing countries by former colonial rulers, but must be grown organically from within by working closely with local communities and institutions.

    And we will be unwavering in our commitment to tackling climate change, where we know that many of the worst effects are felt by those who have made the smallest contributions to this existential threat.

    Theme 2: defending and strengthening Parliament’s role in upholding the rule of law.

    My second theme is closer to home. A crucial part of restoring the rule of law, and building resilience in the face of future threats, involves thinking about the respective roles of our own institutions in upholding these fundamental values.

    This must start by recognising that upholding the rule of law cannot just be left to the courts. All branches of our constitution must see the rule of law, in its fullest sense, as a guiding force for their own actions.

    Speaking as a relatively new member of two of these branches, I hope my colleagues in this room will not mind if I offer some initial reflections on the role of Parliament in this regard; both in terms of its own functions, and the Government’s relationship to it.

    Parliamentary sovereignty is one of the fundamental features of our constitution and the ultimate legal authority of Parliament to make or unmake any law is crystal clear.  However, viewing the rule of law through this distorting lens of ultimate decision-making authority alone risks mistaking it for a purely formal, and thin, conception of ‘rule by law’. 

    As lawyers know, Parliament’s authority in our constitution is legal authority, an authority that requires that Parliament maintains in its legislation the ideals of the rule of law, of government under law, one of the contributions to the modern world of which we in the UK are justly proud.  And as I (following Lord Bingham) have explained, those ideals are much thicker and more substantive that the thin gruel of a formal conception of ‘rule by law’.

    We have seen in recent years where that disregard for our constitutional rule of law heritage can lead.  It is crucial that all institutional actors understand their role in a government under law. When Government invites Parliament to breach international law, or oust the jurisdiction of the courts, it not only undermines the rule of law, but also the mutual respect that historically has been one of the great strengths of our constitution.  It risks pitting one institution against another in ways that damage our reputation both inside and outside our borders as a law-abiding nation. 

    We must also work to counter the false choice, offered by some, between parliamentary democracy and fundamental rights. For almost a quarter of a century, the Human Rights Act has shown how it is possible, with imagination, to provide a legal framework for the protection of fundamental rights which can co-exist with parliamentary sovereignty. Indeed, the Act specifically preserves Parliament’s ultimate decision-making authority through its regime of non-binding Declarations of Incompatibility, defences, and section 19(1)(b) statements.

    And the enforcement of the Act otherwise by the courts, far from being at odds with democracy, is its vindication. Because it was our democratically elected Parliament that legislated for the Human Rights Act, and provided the mechanisms by which individual rights should be given meaningful effect in domestic law. It is testament to the framers of the Act that no Parliament elected since 1998 has chosen to fundamentally alter that position.

    It is also right to reflect on how Parliament can itself actively protect and enhance rule of law values. It does this through its scrutiny of legislation, most notably through the expertise of my colleagues in both Houses, but also through its Select Committee system. And it is incumbent on any government to ensure that those Committees are able to do their jobs effectively. I welcome the contribution that committees such as the Lords Constitution Committee, the Delegated Powers Committee and the Joint Committee on Human Rights make to the debate on human rights and the rule of law, and I look forward to working constructively with them in this Parliament.

    But there are aspects of Government’s relationship with Parliament that require more careful examination. Most pressingly, there is in my view a real need to consider the balance between primary and secondary legislation, which in recent years has weighed too heavily in favour of delegated powers.

    The twin challenges of Brexit and the Covid pandemic had the effect of concentrating immense power in the hands of the executive, through the conferral and exercise of broad delegated powers, including so-called Henry VIII powers. Some of this can be explained by the exceptional character, and unique demands, of both events. However, it would be a mistake to view this as an aberration. As the Delegated Powers and Regulatory Reform Committee have noted, Brexit and Covid did not mark the beginning of the shift in the balance between Parliament and the executive, so much as an acceleration and intensification of an existing trend.

    As technical as these issues may sound, they raise real questions about how we are governed. I said earlier that I see democracy as inextricably related to the rule of law. In our system of Parliamentary democracy, consent to be governed is expressed through the delegation, every four or five years, of powers by the governed to Parliament. It is the importance of this model of consent that explains in very large measure why I have been so concerned, on entering Government, to improve the standards we adhere to when we make policy and law – and specifically to ensure that the processes we adopt support the rule of law.

    Secondary legislation has an indispensable role to play in a modern, regulated society. There is no suggestion that the Government should not take or exercise delegated powers. However, excessive reliance on delegated powers, Henry VIII clauses, or skeleton legislation, upsets the proper balance between Parliament and the executive. This not only strikes at the rule of law values I have already outlined, but also at the cardinal principles of accessibility and legal certainty.

    In my view, the new Government offers an opportunity for a reset in the way that Government thinks about these issues. This means, in particular, a much sharper focus on whether taking delegated powers is justified in a given case, and more careful consideration of appropriate safeguards.

    Theme 3: promoting a rule of law culture, which builds public trust in the law and its institutions

    Finally, in my third theme I want to talk about culture and how we promote a rule of law culture which builds public trust in the law and its institutions – a vital task if the rule of law is to be made resilient enough to withstand the threats I have described in this age of populism.

    We begin this task from a difficult place. Too often, the starting point for debate is that law is part of the problem. At best, an abstraction that is disconnected from the realities of people’s lives. At worst, it can be held up by populists as a force that is somehow illegitimate. All of us who care about this subject – and particularly those of us in Government – need to work hard to counter these attitudes, and to foster a better understanding of the rightful place of law in a liberal democratic society.

    For Government, this means leading by example.  I hope you take some comfort in the fact that the importance of the rule of law and the constitutional balance is embedded in my DNA and that of a Prime Minister who not only rose to the top ranks of the Bar but served his country as DPP.  Vitally, it is also a principle deeply cherished and jealously protected by the Lord Chancellor who has overarching constitutional authority as the guardian of the rule of law not least to protect the independence of the judiciary.  Anyone who knows the Lord Chancellor and her determination to champion the rule of law will know that there will be no repeat of failures to defend attacks on the judiciary under her watch.   

    Of course, we will be judged by what we do, not what we may have done in the past let alone what we say now – and we will demonstrate our commitment to the rule of law in real and practical ways.  By way of example only, in the coming weeks I will issue an amended guidance for assessing legal risk across government that will seek to raise the standards for calibrating legality that the thousands of brilliant lawyers working in every part of government activity apply to deliver for the people of this country – I want them to feel empowered to give their full and frank advice to me and others in government and to stand up for the rule of law.

    But the challenge to rebuild a broad consensus around rule of law values, cannot be left merely to politicians.  It is a project that can only succeed if it is taken up by all of us, politicians, judges, lawyers, civil society, citizens. 

    We need to recognise that the populists have stolen a march – it is nearly always easier to deride and denigrate than it is to promote complex but vital principles.  We cannot stand by idly as rule of law principles and the human rights idea are undermined, sometimes without challenge, on television screens, the pages of newspapers and most effectively and invidiously of all, on social media.

    The challenge is to get out and explain the importance of the principles that we hold so dear – we have a fantastic story to tell and tell it we must. 

    We need to explain that the rule of law is not the preserve of arid constitutional theory.  We need to explain how it provides the stable and predictable environment in which people can plan their lives, do business and get ahead; in which businesses can invest, the economy can grow; people can resolve disputes fairly and peacefully, and express and enjoy their basic rights and freedoms. We must illustrate how systems that do not hold to these values can be arbitrary and capricious. And backsliding from Rule of Law values, once it begins, can take an unpredictable course.

    The story that we must tell is how the rule of law matters for growth, jobs and people’s livelihoods – how it impacts upon the pound in their pocket and on the type of future their children deserve to enjoy. Governments that undermine, or take a ‘pick and mix’ approach to these values, disincentivise investment. Today, we have hosted the Investment Summit with a clear message that Britain is open for business. Britain has many commercial advantages, but one of our greatest is the trust that businesses can have in our courts, and the confidence they can have in a stable and transparent business environment, underpinned by a strong rule of law.

    Education has a crucial role to play. We must take these messages to our schools and wider communities. I commend the work of civil society groups and charities such as Young Citizens and the Citizenship Foundation, and the Bingham Centre itself, who work with schools to promote a better understanding of the law and its importance in society. I believe it is right to think about whether even more can be done to strengthen the role of citizenship education as a means of promoting a better understanding of our constitution and, particularly, the importance of the rule of law.

    But we must also talk about these issues in a way that resonates with the public and in language that everyone understands. Because most people would instinctively recognise rule of law principles as values that are part of the very fabric of our society. Fair play. Justice. Rules that apply equally to all; not one rule for them, and another for the rest of us. And where disputes do arise – whether with a business, an employer, or a neighbour – an independent courts system which provides the means for their just resolution.

    And in the public realm, law is the great leveller that holds the powerful to account, and ensures that individual rights are respected. Those rights – human rights – are our rights, and belong to us all.  

    So it is we must proudly own the story of the European Convention on Human Rights, not least because in so doing we expose the wanton superficiality of many of its critics. We must explain how the values of the Convention are not foreign to us. They are universal. Closely connected rights are found deeply embedded in the heart of our own legal tradition. Echoes of habeas corpus, Magna Carta, and the Bill of Rights, can all be located in Articles 5 and 6 ECHR.  This country banned torture long before our continental cousins, never mind the promulgation of Article 3.  It is no coincidence that it was British lawyers, most notably the Conservative David Maxwell Fyfe, who helped to frame the European Convention after the Second World War, drawing of course inspiration from the Universal Declaration of Human Rights but also centuries of our own legal values.  It is simply legally fatuous and historically ignorant of armchair critics of the Convention to declare that its supporters somehow seek to undermine our traditions or should be dismissed as naive snowflakes. 

    To the contrary, the Convention was drafted by men and women who had witnessed the very worst that humans can do to each other, their views were forged not in a Tufton Street seminar but in the trenches and the battle grounds, in the prisoner of war camps and the historic prosecutions of the Nazi war criminals at Nuremberg.  The drafting and adoption took place not in a time of overindulgence but when societies were rebuilding from rubble and indeed this country was still under rationing.  They were hard-nosed men and women from a generation who had seen conflict and vowed ‘never again’.    The structures they helped to create, the values that underpin them, have served us well as a bulwark against totalitarianism, and a foundation for European peace. And they remain the best hope of protecting us from the threats we face today.

    For too long, populists have been able to frame the debate on human rights too narrowly, by reference to issues which, important as they are, can often feel disconnected from the everyday. We have to work to change this, not only by busting myths, but by showing how human rights positively touch so many aspects of wider society. The right to be treated equally. The right to express ourselves. The freedom to live in the way we choose, without undue interference from the state. These are the values we cherish and have chosen, collectively, to protect.

    So too must we work to combat disinformation and misinformation about law and lawyers. The disgraceful scenes of violent disorder over the summer, including threats against immigration law firms and advice centres, showed only too vividly that what is said online can have dangerous consequences in the real world.

    But the response to the riots also showed something more hopeful. People took to the streets not only to clean up and repair the damage, but to stand together against the forces of reaction and division. It is that spirit of decency and fairness that we must harness in our cause.   

    When I went to Liverpool I visited the library that had been burnt down in the riots and met a group of children who had been cowering under beds and in cupboards as the mobs went by at night but who the next morning got up and came to volunteer to rebuild.  I talked with them about the books that we were donating to the library (including Helena’s latest) which all concern how law and justice work for everyone – and we discussed the meaning and significance of the inscription that my office had placed inside each cover, taking the words of Dr Martin Luther King – that although the arc of humanity is long, it bends towards justice.

    Conclusion

    Restoration and resilience. These are the watchwords that will guide our defence of the rule of law in the face of populism. It is by renewing our commitment to rule of law values, as a Government and as a nation, at home and abroad, and patiently rebuilding the political consensus underpinning that commitment, that we will ensure that the rule of law is safe for future generations; so we may continue to work together towards achieving the Bingham Centre’s vision of ‘a world in which every society is governed by the Rule of Law in the interests of good government, peace at home and in the world at large’.

    Updates to this page

    Published 15 October 2024

    MIL OSI United Kingdom –

    January 23, 2025
  • MIL-OSI Global: South Africa’s 36.1% electricity price hike for 2025: why the power utility Eskom’s request is unrealistic

    Source: The Conversation – Africa – By Steven Matome Mathetsa, Senior Lecturer at the African Energy Leadership Centre, Wits Business School, University of the Witwatersrand

    South Africa’s state-owned electricity company, Eskom, has applied to the National Energy Regulator of South Africa to approve a 36.1% electricity price hike from April 2025, a 11.8% price increase in 2026 and an 9.1% increase in 2027. Steven Mathetsa teaches and researches sustainable energy systems at the University of the Witwatersrand’s African Energy Leadership Centre. He explains some of the problems with the planned tariff increase.

    Why such a big hike?

    Eskom says the multi-year price increase is because of the need to move closer a cost-reflective tariff that reflects the actual costs of supplying electricity.

    However, Eskom’s electricity tariff increases have been exorbitant for several years – an 18% increase in 2023 and a 13% increase in 2024. This is a price increase far above inflation, which is currently at 4.4%.

    Some companies have installed their own generation capacity, and individuals have moved to rooftop solar systems. As a result electricity sales have fallen by about 2% , resulting in a drop in revenue.

    There’s a knock on effect for municipalities, the biggest distributors of electricity, which have also been forced to hike tariffs in line with Eskom’s increases.

    All these costs are passed onto the consumers.

    What will the impact be on South Africans?

    If the hike is approved it will certainly worsen the economic difficulties facing
    South Africa. One of the most unequal countries in the world, South Africa has an extremely high unemployment rate – 33.5%at the last count.

    Economic growth is also very slow, at a mere 0.6% in 2023. The cost of living is high.

    Exorbitant increases in electricity costs aggravate these problems.

    South Africans and businesses in the country have little choice about where they source their energy. Eskom is still the sole supplier for nearly all the country’s electricity needs. This means that ordinary citizens are likely to continue relying on electricity supplied by Eskom, irrespective of the costs.

    The high costs affect businesses negatively. Large industrial and small, medium, and micro enterprises have all highlighted that costs associated with utilities, mainly electricity, are affecting their sustainability.




    Read more:
    Competition in South Africa’s electricity market: new law paves the way, but it won’t be a smooth ride


    The Electricity Regulation Amendment Act implementation will make major changes to Eskom. The reforms establish an independent Transmission Systems Operator tasked with connecting renewable energy providers to the grid. This will allow the creation of a competitive market where renewable energy providers can sell power to the grid.

    But it’s not yet clear if these changes will address the issue of exorbitant electricity price rises.

    What are the problems?

    The country’s energy frameworks are drafted on the basis of the World Energy Trilemma Index. The index promotes a balanced approach between energy security, affordability, and sustainability. In other words, countries must be able to provide environmentally friendly and reliable electricity that their residents can afford.

    South Africa is currently unable to meet these goals because of different energy policies that do not align, a lack of investment in electricity and dependency on coal-fired power. Electricity is increasingly becoming unaffordable in the country. Although there’s been a recent reprieve from power cuts, security of supply is still uncertain.




    Read more:
    South Africa’s new energy plan needs a mix of nuclear, gas, renewables and coal – expert


    Furthermore, over 78% of the country’s electricity is produced by burning coal. This means South Africa is also far from attaining its 2015 Paris Agreement greenhouse gas reduction goals.

    Compounding this problem is that Eskom is financially unstable – it needed R78 billion from the government in debt relief in 2024. For years, there was a lack of effective maintenance on the aging infrastructure.

    The country has made some inroads into improving security of supply. To date, recent interventions have resulted in over 200 days without power cuts. This should be commended. The same focus must be placed on ensuring that electricity remains affordable while giving attention to meeting the goals of the Paris Agreement.

    What needs to change?

    South Africa’s 1998 Energy Policy White Paper and the new Electricity Regulation Amendment Act promote access to affordable electricity. However, they’ve been implemented very slowly. Affordable electricity needs to be taken seriously.

    The question is whether the country’s electricity tariff methodology is flexible enough to accommodate poor South Africans, especially during these challenging economic times.

    In my view, it is not. In its current form, vulnerable communities continue to foot the bill for various challenges confronting Eskom, including financial mismanagement, operational inefficiencies, municipal non-payment, and corruption.

    I believe the following steps should be taken.

    Firstly, South Africa should revise its tariff application methodologies so that consumers, especially unemployed and impoverished people, are protected against exorbitant increases.

    Secondly, the National Energy Regulator of South Africa should strengthen its regulations to ensure its compliance and enforcement systems are effective. For example, Eskom should be held accountable when it does not deliver efficient services or mismanages funds, and be transparent about costs associated with its processes. Municipalities should also be held accountable for non-payment and other technical issues they regularly struggle with. Both affect the revenue of the power utility.




    Read more:
    South Africa’s economic growth affected by mismatch of electricity supply and demand


    Thirdly, the government must make sure that price increases are affordable and don’t hurt the broader economy. It can do this by adjusting its policies to make sure that increases in electricity tariffs are in line with the rate of inflation.

    Fourthly, communities can play a vital role in saving electricity at a household level. This will reduce the country’s overall energy consumption. Furthermore, both small and large businesses should continue to consider alternative energy technologies while implementing energy saving technologies.

    Lastly, the level of free-basic electricity is not sufficient for poor households. Subsidy policies should also be reviewed to allow users access to affordable electricity as their financial situation changes negatively.

    Steven Matome Mathetsa 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. South Africa’s 36.1% electricity price hike for 2025: why the power utility Eskom’s request is unrealistic – https://theconversation.com/south-africas-36-1-electricity-price-hike-for-2025-why-the-power-utility-eskoms-request-is-unrealistic-240941

    MIL OSI – Global Reports –

    January 23, 2025
  • MIL-OSI Global: 9 million Mozambicans live below the poverty line – what’s wrong with the national budget and how to fix it

    Source: The Conversation – Africa – By Felix Mambo, Country Economist, London School of Economics and Political Science

    Mozambique ranks in the bottom 20 of the human development index. This measures a country’s progress based on key dimensions such as a long and healthy life and a decent standard of living. Nearly two-thirds of Mozambicans – 18.9 million people – live below the national poverty line of US$0.70-a-day.

    The country also struggles to finance public spending, consistently running state budget deficits . At the same time it also fails to spend all the money that’s been budgeted.

    Mozambique’s frequent budget deficits are no surprise. The country has a rapidly growing population, increasing needs of the poor populations, dilapidated infrastructure, and very limited revenue generation.

    In a recent study on budget credibility in Mozambique we explored how the government’s challenges in meeting its revenue and expenditure targets harm the overall economy. And we suggest solutions.

    Our study focused on public expenditures on the social sector. This included education, health, social protection and public works (which includes water and sanitation). All are vital for human capital generation and poverty reduction. The social sector accounts for 40% of budgeted expenditure. Education is the largest at about 20% of the overall pie.

    Our study introduces – and successfully tests – a simple method that can be easily applied by budget oversight entities. This includes the parliament budget oversight unit and the accounts court. It can also be applied by planning units within ministries, especially the ministry of finance. Finally, it can be used by civil society budget watchdogs, as it relies on public information.

    Adopting it will provide tools to improve budget management in turn leading to more credible budget execution.

    Assessing public financial management

    The Public Expenditure and Financial Accountability programme was initiated in 2001 by the European Commission, International Monetary Fund, World Bank, and the governments of France, Norway, Switzerland and the UK. The aim was is to improve fiscal outcomes. It has conducted 533 assessments in 155 countries, including 47 countries in sub-Saharan Africa. Ten assessments have been completed in Mozambique.

    The programme defines budget credibility as the extent to which the government’s budget is realistic and implemented as intended. A credible budget reassures a range of stakeholders on the predictability of public expenditure and services. This includes taxpayers, donors and lenders, the firms that supply the government, public workers and the recipients of public services.

    The credibility question

    To measure the credibility of the budget in Mozambique, we used publicly available state budget data. We looked at both planned spending and actual execution.

    In its previous assessments, the Public Expenditure and Financial Accountability programme had identified several weaknesses. These included deviations, sector-specific variability, revenue shortfalls and mid-year budget adjustments.

    However, these insights didn’t explore the origins of the underlying budget discrepancies. The assessments therefore didn’t allow for in-depth insights.

    In our study, we further analysed the credibility of the budget measured along expenditure types and the fiscal year.

    Our findings revealed consistent under-execution of budgeted expenditures. This was the case even in years with sufficient revenue. Significant disparities existed along sectors. For example, education and health showed relatively credible budgets compared to public works, social protection and overall non-social expenditures.

    A comparison between types of expenditure showed interesting patterns. An example is the investment expenditures in social sectors (such as schools, health facilities, water, and sanitation). These were primarily externally funded, showed higher volatility and lower credibility than current expenditures. Current expenditures include teachers’ payments and, more generally, overall salaries.

    We also found a strong indication of resource reallocation outside of regular budgetary rules. For example, we found a suggestion that resources initially allocated for investments were redirected to fund current expenditures.

    Finally, we found no strong evidence that mid-fiscal year budget adjustments improved reliability. This was in line with Public Expenditure and Financial Accountability reports.

    Causes and potential solutions

    The Government of Mozambique’s State Budget Account attributes budget inconsistencies to two main factors.

    On one hand, slower economic growth and inefficient tax collection lead to revenue shortfalls. On the other, there were expenditure overruns due to a range of developments. These included natural disasters, health shocks (such as COVID-19), inflation, exchange rate fluctuations and delays in donor disbursements. Administrative and logistical issues that delayed projects also played a role.

    The government has taken steps to mitigate these vulnerabilities. These include:

    • establishing a reserve fund under the new sovereign fund

    • increasing tax collection

    • it has initiated VAT reform. This was suggested by the IMF.

    These efforts are coupled with measures to address expenditure overruns. These include improving transparency and accountability in public budgets. They also include efforts to limit the overall public sector wage expenditure.

    Our study recommends additional strategies to boost budget credibility:

    Sectoral focus: enhance expenditure targeting in social sectors. This includes education, health, social protection and social work. And improve related budgeting processes

    Enhanced investment management: strengthen oversight mechanisms for externally financed projects. The aim would be to reduce fund diversion to unplanned purposes. And better alignment with long term development goals

    Budget adjustments reassessment: focus mid-fiscal-year budget adjustments on strategic reallocation rather than ad-hoc adjustments

    Improved monitoring: implement a system that enables the Ministry of Economy and Finance to identify areas for improvement, potential quick wins and best practices

    Budget credibility is crucial for Mozambique’s economic development and public trust. Effective budget management ensures transparency, predictability, and accountability. All are essential for sustainable growth.

    This is an modified version of a blog, Budget credibility in Mozambique – challenges and solutions, originally published by UNU-WIDER.

    An extended discussion of the topics covered in the blog, Understanding Mozambique’s budget credibility issues and solutions, was published by the International Growth Centre (IGC).

    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. 9 million Mozambicans live below the poverty line – what’s wrong with the national budget and how to fix it – https://theconversation.com/9-million-mozambicans-live-below-the-poverty-line-whats-wrong-with-the-national-budget-and-how-to-fix-it-240027

    MIL OSI – Global Reports –

    January 23, 2025
  • MIL-OSI Africa: 9 million Mozambicans live below the poverty line – what’s wrong with the national budget and how to fix it

    Source: The Conversation – Africa – By Felix Mambo, Country Economist, London School of Economics and Political Science

    Mozambique ranks in the bottom 20 of the human development index. This measures a country’s progress based on key dimensions such as a long and healthy life and a decent standard of living. Nearly two-thirds of Mozambicans – 18.9 million people – live below the national poverty line of US$0.70-a-day.

    The country also struggles to finance public spending, consistently running state budget deficits . At the same time it also fails to spend all the money that’s been budgeted.

    Mozambique’s frequent budget deficits are no surprise. The country has a rapidly growing population, increasing needs of the poor populations, dilapidated infrastructure, and very limited revenue generation.

    In a recent study on budget credibility in Mozambique we explored how the government’s challenges in meeting its revenue and expenditure targets harm the overall economy. And we suggest solutions.

    Our study focused on public expenditures on the social sector. This included education, health, social protection and public works (which includes water and sanitation). All are vital for human capital generation and poverty reduction. The social sector accounts for 40% of budgeted expenditure. Education is the largest at about 20% of the overall pie.

    Our study introduces – and successfully tests – a simple method that can be easily applied by budget oversight entities. This includes the parliament budget oversight unit and the accounts court. It can also be applied by planning units within ministries, especially the ministry of finance. Finally, it can be used by civil society budget watchdogs, as it relies on public information.

    Adopting it will provide tools to improve budget management in turn leading to more credible budget execution.

    Assessing public financial management

    The Public Expenditure and Financial Accountability programme was initiated in 2001 by the European Commission, International Monetary Fund, World Bank, and the governments of France, Norway, Switzerland and the UK. The aim was is to improve fiscal outcomes. It has conducted 533 assessments in 155 countries, including 47 countries in sub-Saharan Africa. Ten assessments have been completed in Mozambique.

    The programme defines budget credibility as the extent to which the government’s budget is realistic and implemented as intended. A credible budget reassures a range of stakeholders on the predictability of public expenditure and services. This includes taxpayers, donors and lenders, the firms that supply the government, public workers and the recipients of public services.

    The credibility question

    To measure the credibility of the budget in Mozambique, we used publicly available state budget data. We looked at both planned spending and actual execution.

    In its previous assessments, the Public Expenditure and Financial Accountability programme had identified several weaknesses. These included deviations, sector-specific variability, revenue shortfalls and mid-year budget adjustments.

    However, these insights didn’t explore the origins of the underlying budget discrepancies. The assessments therefore didn’t allow for in-depth insights.

    In our study, we further analysed the credibility of the budget measured along expenditure types and the fiscal year.

    Our findings revealed consistent under-execution of budgeted expenditures. This was the case even in years with sufficient revenue. Significant disparities existed along sectors. For example, education and health showed relatively credible budgets compared to public works, social protection and overall non-social expenditures.

    A comparison between types of expenditure showed interesting patterns. An example is the investment expenditures in social sectors (such as schools, health facilities, water, and sanitation). These were primarily externally funded, showed higher volatility and lower credibility than current expenditures. Current expenditures include teachers’ payments and, more generally, overall salaries.

    We also found a strong indication of resource reallocation outside of regular budgetary rules. For example, we found a suggestion that resources initially allocated for investments were redirected to fund current expenditures.

    Finally, we found no strong evidence that mid-fiscal year budget adjustments improved reliability. This was in line with Public Expenditure and Financial Accountability reports.

    Causes and potential solutions

    The Government of Mozambique’s State Budget Account attributes budget inconsistencies to two main factors.

    On one hand, slower economic growth and inefficient tax collection lead to revenue shortfalls. On the other, there were expenditure overruns due to a range of developments. These included natural disasters, health shocks (such as COVID-19), inflation, exchange rate fluctuations and delays in donor disbursements. Administrative and logistical issues that delayed projects also played a role.

    The government has taken steps to mitigate these vulnerabilities. These include:

    • establishing a reserve fund under the new sovereign fund

    • increasing tax collection

    • it has initiated VAT reform. This was suggested by the IMF.

    These efforts are coupled with measures to address expenditure overruns. These include improving transparency and accountability in public budgets. They also include efforts to limit the overall public sector wage expenditure.

    Our study recommends additional strategies to boost budget credibility:

    Sectoral focus: enhance expenditure targeting in social sectors. This includes education, health, social protection and social work. And improve related budgeting processes

    Enhanced investment management: strengthen oversight mechanisms for externally financed projects. The aim would be to reduce fund diversion to unplanned purposes. And better alignment with long term development goals

    Budget adjustments reassessment: focus mid-fiscal-year budget adjustments on strategic reallocation rather than ad-hoc adjustments

    Improved monitoring: implement a system that enables the Ministry of Economy and Finance to identify areas for improvement, potential quick wins and best practices

    Budget credibility is crucial for Mozambique’s economic development and public trust. Effective budget management ensures transparency, predictability, and accountability. All are essential for sustainable growth.

    This is an modified version of a blog, Budget credibility in Mozambique – challenges and solutions, originally published by UNU-WIDER.

    An extended discussion of the topics covered in the blog, Understanding Mozambique’s budget credibility issues and solutions, was published by the International Growth Centre (IGC).

    – 9 million Mozambicans live below the poverty line – what’s wrong with the national budget and how to fix it
    – https://theconversation.com/9-million-mozambicans-live-below-the-poverty-line-whats-wrong-with-the-national-budget-and-how-to-fix-it-240027

    MIL OSI Africa –

    January 23, 2025
  • MIL-OSI Africa: South Africa’s 36.1% electricity price hike for 2025: why the power utility Eskom’s request is unrealistic

    Source: The Conversation – Africa – By Steven Matome Mathetsa, Senior Lecturer at the African Energy Leadership Centre, Wits Business School, University of the Witwatersrand

    South Africa’s state-owned electricity company, Eskom, has applied to the National Energy Regulator of South Africa to approve a 36.1% electricity price hike from April 2025, a 11.8% price increase in 2026 and an 9.1% increase in 2027. Steven Mathetsa teaches and researches sustainable energy systems at the University of the Witwatersrand’s African Energy Leadership Centre. He explains some of the problems with the planned tariff increase.

    Why such a big hike?

    Eskom says the multi-year price increase is because of the need to move closer a cost-reflective tariff that reflects the actual costs of supplying electricity.

    However, Eskom’s electricity tariff increases have been exorbitant for several years – an 18% increase in 2023 and a 13% increase in 2024. This is a price increase far above inflation, which is currently at 4.4%.

    Some companies have installed their own generation capacity, and individuals have moved to rooftop solar systems. As a result electricity sales have fallen by about 2% , resulting in a drop in revenue.

    There’s a knock on effect for municipalities, the biggest distributors of electricity, which have also been forced to hike tariffs in line with Eskom’s increases.

    All these costs are passed onto the consumers.

    What will the impact be on South Africans?

    If the hike is approved it will certainly worsen the economic difficulties facing South Africa. One of the most unequal countries in the world, South Africa has an extremely high unemployment rate – 33.5%at the last count.

    Economic growth is also very slow, at a mere 0.6% in 2023. The cost of living is high.

    Exorbitant increases in electricity costs aggravate these problems.

    A 2023 protest against electricity prices hikes. Ashraf Hendricks/GroundUp

    South Africans and businesses in the country have little choice about where they source their energy. Eskom is still the sole supplier for nearly all the country’s electricity needs. This means that ordinary citizens are likely to continue relying on electricity supplied by Eskom, irrespective of the costs.

    The high costs affect businesses negatively. Large industrial and small, medium, and micro enterprises have all highlighted that costs associated with utilities, mainly electricity, are affecting their sustainability.


    Read more: Competition in South Africa’s electricity market: new law paves the way, but it won’t be a smooth ride


    The Electricity Regulation Amendment Act implementation will make major changes to Eskom. The reforms establish an independent Transmission Systems Operator tasked with connecting renewable energy providers to the grid. This will allow the creation of a competitive market where renewable energy providers can sell power to the grid.

    But it’s not yet clear if these changes will address the issue of exorbitant electricity price rises.

    What are the problems?

    The country’s energy frameworks are drafted on the basis of the World Energy Trilemma Index. The index promotes a balanced approach between energy security, affordability, and sustainability. In other words, countries must be able to provide environmentally friendly and reliable electricity that their residents can afford.

    South Africa is currently unable to meet these goals because of different energy policies that do not align, a lack of investment in electricity and dependency on coal-fired power. Electricity is increasingly becoming unaffordable in the country. Although there’s been a recent reprieve from power cuts, security of supply is still uncertain.


    Read more: South Africa’s new energy plan needs a mix of nuclear, gas, renewables and coal – expert


    Furthermore, over 78% of the country’s electricity is produced by burning coal. This means South Africa is also far from attaining its 2015 Paris Agreement greenhouse gas reduction goals.

    Compounding this problem is that Eskom is financially unstable – it needed R78 billion from the government in debt relief in 2024. For years, there was a lack of effective maintenance on the aging infrastructure.

    The country has made some inroads into improving security of supply. To date, recent interventions have resulted in over 200 days without power cuts. This should be commended. The same focus must be placed on ensuring that electricity remains affordable while giving attention to meeting the goals of the Paris Agreement.

    What needs to change?

    South Africa’s 1998 Energy Policy White Paper and the new Electricity Regulation Amendment Act promote access to affordable electricity. However, they’ve been implemented very slowly. Affordable electricity needs to be taken seriously.

    The question is whether the country’s electricity tariff methodology is flexible enough to accommodate poor South Africans, especially during these challenging economic times.

    In my view, it is not. In its current form, vulnerable communities continue to foot the bill for various challenges confronting Eskom, including financial mismanagement, operational inefficiencies, municipal non-payment, and corruption.

    I believe the following steps should be taken.

    Firstly, South Africa should revise its tariff application methodologies so that consumers, especially unemployed and impoverished people, are protected against exorbitant increases.

    Secondly, the National Energy Regulator of South Africa should strengthen its regulations to ensure its compliance and enforcement systems are effective. For example, Eskom should be held accountable when it does not deliver efficient services or mismanages funds, and be transparent about costs associated with its processes. Municipalities should also be held accountable for non-payment and other technical issues they regularly struggle with. Both affect the revenue of the power utility.


    Read more: South Africa’s economic growth affected by mismatch of electricity supply and demand


    Thirdly, the government must make sure that price increases are affordable and don’t hurt the broader economy. It can do this by adjusting its policies to make sure that increases in electricity tariffs are in line with the rate of inflation.

    Fourthly, communities can play a vital role in saving electricity at a household level. This will reduce the country’s overall energy consumption. Furthermore, both small and large businesses should continue to consider alternative energy technologies while implementing energy saving technologies.

    Lastly, the level of free-basic electricity is not sufficient for poor households. Subsidy policies should also be reviewed to allow users access to affordable electricity as their financial situation changes negatively.

    – South Africa’s 36.1% electricity price hike for 2025: why the power utility Eskom’s request is unrealistic
    – https://theconversation.com/south-africas-36-1-electricity-price-hike-for-2025-why-the-power-utility-eskoms-request-is-unrealistic-240941

    MIL OSI Africa –

    January 23, 2025
  • MIL-OSI Security: Murder investigation launched following fatal Tottenham shooting

    Source: United Kingdom London Metropolitan Police

    A murder investigation has been launched in Tottenham following the fatal shooting of a man in his 40s.

    On Tuesday, 15 October police were called to Waltheof Gardens, N17 at 09:00hrs following reports of a shooting.

    Officers attended alongside the London Ambulance Service and found a man with a gunshot injury.

    Despite the best efforts of emergency services, he died at the scene. His next of kin has been informed.

    At this stage, there have been no arrests and enquiries into the circumstances continue.

    Detective Chief Superintendent Caroline Haines, in charge of policing for North Area which covers Haringey, said: “I am devastated by the tragic loss of life, and I recognise the concern that this incident will cause for local residents.

    “I want to reassure you that we have a team of specialist officers already working diligently to establish the circumstances of this shooting.

    “You may notice an increased police presence in the area as officers carry out vital enquiries. We would encourage you to speak to them with any concerns.

    “If you have any information that you think may assist with our investigation, then please do not hesitate to get in touch. We want to hear from you, even if you feel like your information may be insignificant.”

    A crime scene remains in place at the location while enquiries are carried out.

    Anyone with information is asked to call 101 or ‘X’ @MetCC and quote CAD1613/15OCT. You can upload information and material online.

    You can also provide information anonymously to the independent charity Crimestoppers on 0800 555 111.

    MIL Security OSI –

    January 23, 2025
  • MIL-OSI United Kingdom: Fostering is…Everything

    Source: City of Coventry

    Fostering can mean everything to those involved.

    This is the message of a powerful new fostering film from over 100 councils including Coventry City Council, who were the pioneers behind the idea seven years ago to work collaboratively with fostering teams across the UK.

    ‘Everything’ will be launched this week on 17 October. It is the seventh film produced by a growing partnership of councils and children’s trusts to promote local authority fostering. The ‘Everything’ project is the largest collaboration yet, with participants from Cumbria to Devon and Lancashire to Essex.

    Cllr Pat Seaman, Cabinet Member, Children and Young People, said:

    “The ‘Everything’ project has given our fostering service an amazing film that shows the long-term impact fostering can have, with relationships between carers and children lasting well into adulthood.

    “We were instrumental in developing the idea of working together with other fostering teams to deliver a film with the universal aim of promoting the importance and vital role foster carers play.

    “All councils need to recruit more foster carers, and by collaborating to produce this emotionally powerful film, we will show people how rewarding and life-changing fostering is.

    “The message is the same for all of us – we need more people to step forward and become foster carers. ‘Everything’ will help us to reach more people in our communities and encourage them to find out more about this really rewarding role.

    “We are committed to giving the vulnerable children and young people we care for the best chance to thrive, which for the vast majority of them is with local fostering families. Finally, anybody who can play their part and be the everything in a child’s life, can contact the Coventry fostering team on 024 7683 2828 or email pssfostering@coventry.gov.uk”

    The importance of having local foster carers and how they can make such a massive difference in supporting children and young people, is shared by Coventry foster carers, Genine and Tajae, who reflect on their own experience of supporting relationships with children who have left their care.

    They said:

    “As foster carers we established positive relationships with all the children in our care. It has always been our aim to make them feel accepted, loved, safe and cared for. Although we’ve had highs and lows, we can see the positive impact we have had on the children, even after leaving our care.

    “We are so glad that we are able to keep in contact with some of the children we have cared for. Recently, we went out for dinner with a child (now adult) who left our care four years ago.

    “We spoke about our great memories together and she let us know the positive impact we had on her future. She was so appreciative in knowing that we still cared for her even after all these years and will always be there for her.

    “We are also still in contact with another child who had formed close relationships with both of us and our extended family. We still talk on the phone; he comes to our house and on trips to London with us to see our family- this was something that he really enjoyed while in our care.

    “This has had such a positive impact on him to know that he is still seen as family and is always welcome.” 

    The new film, ‘Everything’, follows foster carer Mike and his family on a journey through time with two of the children they have looked after, who are now adults. A surprise 60th birthday party for Mike gives Will and Zara a chance to reflect on how being fostered made a difference to their lives, thanking him for everything.

    Thanks to footage shot on a genuine old camcorder, we are taken to the 1990s, to see how Will settles into the family. We also jump back to the 2010s, when a young Zara is being taught to play the guitar by Mike, something that comes full circle when she performs a song at the party. Mike’s son Chris is involved throughout, showing the important role the children of foster carers play.

    The concluding message of the film is that what you do with your life could forever change someone else’s – encouraging people to foster to make that change.

    The film was developed with the input and insight of foster carers and people with care experience. It was produced by Reel TwentyFive and project managed by public sector media partner CAN/Rachel Brown. Project Director, Rachel Brown describes the main message of the film:

    “Many people don’t realise how common it is for relationships made through fostering to last well beyond the ‘official’ caring role. This has a huge impact on the lives of those who have been fostered, giving them stability and security well into adulthood.

    “Fostering with your local council or children’s trust means you can better support local children and young people who need a safe and nurturing home where they can grow and thrive.”

    Sarah Thomas, chief executive of the Fostering Network says:

    “The Fostering Network has been proud to support the collaborative film projects since ‘Giants’ in 2017. It’s great to see local authority fostering services pooling resources to produce another amazing film. ‘Everything’ will help to amplify their message about the chronic shortage of fostering households, encouraging more people to come forward and foster.”

    For anybody wanting to find out more about fostering with Coventry, people can contact the fostering team on 024 7683 2828 or email pssfostering@coventry.gov.uk

    MIL OSI United Kingdom –

    January 23, 2025
  • MIL-OSI Asia-Pac: Speech by FS at welcome dinner for Standard Chartered Private Bank Global Family Network 2024

    Source: Hong Kong Government special administrative region

         Following is the speech by the Financial Secretary, Mr Paul Chan, at the welcome dinner for the Standard Chartered Private Bank Global Family Network 2024 today (October 15):Bill (Group Chief Executive, Standard Chartered, Mr Bill Winters), Ben (President, International, Standard Chartered, Mr Benjamin Hung), Mary (Chief Executive Officer, Hong Kong and Greater China & North Asia, Standard Chartered, Ms Mary Huen), distinguished guests, ladies and gentlemen,     Good evening. I am very pleased to join you all at this welcome dinner for Standard Chartered’s inaugural flagship Global Family Network Forum, bringing together influential families from across Asia, the Middle East and Europe.     First of all, I wish to extend our warmest welcome to you all to Hong Kong. You’ve chosen a wonderful time to visit, with the perfect autumn weather gracing our city. International asset and wealth management hub     Hong Kong is Asia’s leading international financial centre and asset and wealth management hub. Just now, Mary has already given you a good idea of the scale of assets under management and the number of family offices in this city. Let me supplement that many asset and wealth management firms are expanding their presence in Hong Kong. They include, of course, Standard Chartered. And no less optimistic are other prominent firms like UBS. Its Chief Executive commented in June this year that Hong Kong might well become the world’s first in the asset management business by 2027.      A world of ultra-high-net-worth families and individuals have gathered in Hong Kong for a good reason. For you can place your wealth, here for good. Unique strengths under “one country, two systems”      Hong Kong, after all, has very strong fundamentals. Our unique strength is the “one country, two systems” arrangement. While being part of China, we preserve all the defining characteristics that make this city unique: practising common law with a judiciary exercising powers independently; maintaining free flow of capital, goods, people and information; a low and simple tax system, and a currency pegged to the US dollar.     As President Xi Jinping made clear on various occasions, this arrangement is here to stay for the long term.Staunch support from the country      Indeed, Hong Kong always enjoys staunch support from the Central Government. Over the years, the central authorities have rolled out highly favourable policies that benefit the city’s progress and advancement. This is well illustrated in our financial market development. In April this year, for instance, the CSRC (China Securities Regulatory Commission) announced a series of measures to boost Hong Kong’s capital market. That included injecting more liquidity into the Southbound Connect with Hong Kong, and supporting leading Mainland enterprises to list on our stock exchange. Now, over 100 such companies are in the queue for listing in Hong Kong. Diverse investment offerings and opportunities      Above all, the prime value proposition of Hong Kong for family offices is the diverse array of investment offerings and opportunities we offer.      Speaking of our stock market, it is home to over 2 600 companies with a capitalisation of over US$4.6 trillion. Over the years, we have engaged in listing reforms, facilitating such companies from the new economy, biotech and hard-tech sectors to list on our stock exchange, and thus enlarging our pool of quality issuers.      No less vibrant is the bond market. Hong Kong ranked first in the world for 16 years in terms of international bond issuance arranged by Asian institutions. Last year, around US$90 billion of such bonds were issued, accounting for about a quarter of the market. We are also the hub for Renminbi bonds, including sovereign bonds issued by the central authorities as well as those by provincial and municipal governments.     Hong Kong offers a wide range of financial products that suit impact investors. For example, as Asia’s leading green finance hub, we have on average issued over US$63 billion in green bonds and debt annually over the past three years, accounting for more than one-third of Asia’s total. Over 230 ESG (environmental, social and governance) funds have been authorised by our Securities and Futures Commission, managing approximately US$170 billion in assets.      A rich array of investment products and professional services are underpinning a burgeoning ecosystem for families and their offices here in Hong Kong. The Government has rolled out a package of policies, including tax concessions to family-owned investment holding vehicles managed by single family offices in the city. This year, we have also established a Network of Family Office Service Providers comprising private banks, accounting and legal firms, trusts and other professional service firms, forming a strong nexus that cater to your needs. Recent rally in our stock market     Speaking of investment, you may have noticed the recent rally in our stock market since the central authorities announced a stimulus package to inject liquidity to the banking sector and to provide more support to the real estate sector. Over this period, we have seen strong net buys from American and European investors, and they constituted some 85 per cent of the buy side by value. In terms of the background of those investors, 90 per cent of them are long-term fund managers and investment banks.     In January this year, when I visited Davos to attend the World Economic Forum, I met some investors and fund managers. The message I got from them then was clear – despite geo-economic fragmentation, the world of international investors remained interested in the opportunities of the Mainland market. They have long been waiting for the right time to invest here. Now, they are seeing the opportunity.      And beyond investors from the US and Europe, there is growing interest from our Middle East friends. For example, later this month, two ETFs (exchange-traded funds) will be listed on the Saudi Exchange for investing in our stock market. Making a lasting impact with Hong Kong      Ladies and gentlemen, most if not all, family offices aim for more than just financial returns. They care about the collective good of our society and the planet.      To promote and support philanthropy endeavours, the annual Wealth for Good Summit held in Hong Kong since last year successfully brought together influential family office owners and decision-makers to explore strategies for effective philanthropy and wealth legacy. We will soon launch an “Impact Link” platform to foster the connection between family offices and high-potential, high-social impact philanthropy programmes.     There is also one important dimension of impact investing that I should not miss: innovation and technology. We are home to a vibrant, energetic and promising innovation circle, with many innovators from around the world who gather in Hong Kong, acting to change the world for the better, in AI (artificial intelligence), biotech, green tech, and many more areas. Many of these start-ups are based in our two innovation flagships, the Science Park and Cyberport. They have a global vision, and present valuable opportunities for investment. For instance, one start-up from Science Park has developed geospatial and sensory technologies for precision farming, helping farmers around the world to increase crop yield. Another start-up has developed 3D-printed reef tiles to help restore coral reefs and thus increase regional carbon sequestration capacity. The firm has now expanded to the Middle East.Closing remarks     Ladies and gentlemen, in a nutshell, Hong Kong is where you can conserve and grow your wealth across generations. I believe the speakers at the forum tomorrow will further enlighten us with their valuable insights.      For now, please enjoy this good evening, and I wish you all a rewarding event tomorrow and an enjoyable experience in Hong Kong. Thank you very much. 

    MIL OSI Asia Pacific News –

    January 23, 2025
  • MIL-OSI Africa: GITEX Editions makes its debut to redefine global power tech domination

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

    DUBAI, United Arab Emirates, October 15, 2024/APO Group/ —

    The all-new GITEX Editions got underway on the opening day of GITEX GLOBAL (www.GITEX.com) as discussions focused on accelerating the growth of global late-stage advanced tech companies.

    The latest addition to the packed schedule comes at a vital time where statistics (https://apo-opa.co/3Ab4gaZ) showed there were more than 1,000 unicorns around the world in 2023. This week’s showcase will help support the next development while bringing together 59 top global unicorns with a combined valuation of $400 billion. The impressive list to have gathered includes Axelera, DeepL Synthesis AI, and Insilico Medicine.

    In one of the sessions, the Founder and CEO of digital health unicorn Insilico Medicine, Dr. Alex Zhavoronkov joined Tamer Elhamy, Chief Partner Officer of Microsoft Middle East to discuss the importance of Merger and Acquisitions (M&A) and how AI companies are making their foundational models work smarter for enterprises.

    The audience heard that the Middle East region is leading the way with digitalisation with more than 300 deals related to M&A completed in the first half of 2024 with half of those led by the UAE.

    Scaling GCC business globally

    The staging of GITEX Editions aligns with Dubai’s ambition to be the home of 30 startup unicorns by 2030 as the emirate continues to transform itself from a regional to a global entrepreneurship hub and support its digital ambitions. Today, Dubai is embarking on its journey with 40% of MENA’s scaleups already based in the emirate (https://apo-opa.co/3Y7Y3EF).

    To help nurture the growth of tomorrow’s giants in the GCC region, Harrison Lung, Group Chief Strategy Officer of e& was joined by Tanuja Randery, Managing Director, Europe, Middle East and Africa of Amazon Web Services (AWS) in an insightful session that focused on the importance of collaboration.

    Harrison Lung explained the importance of joining hands to forge stronger alliances. He said: “For us, it’s more about a transformation towards a global technology company. In the areas of partnering, the idea is to develop a win-win proposition and solving the needs of customers.”

    With the region growing rapidly, Tanuja Randery said there is no better time than now for companies to enter the market and agrees collaboration is crucial. She said: “This region is so attractive in terms of the growth potential. I read a stat that showed that almost 70 per cent of businesses in the Middle East want to move most of their operations to the Cloud in two years’ time and this could unlock USD $733 billion of economic value by 2033. To make Cloud make accessible, we need partners and alliances.”

    Driving investments for startups

    Funding is a key pillar to drive growth – both in the long and short-term but can be often challenging. Steven Hoffman, Venture Investor, Author; and Chairman & CEO of Founders Space, gave key advice on how startups should adopt a vertical growth strategy for the future.

    He said: “There is a lot of money going into AI but most of that is going into a handful of companies which are dominating the market and this is impacting the growth of startups. As such, a lot of money is now going into vertical AI where the specialist area is only on one focus such as healthcare or hospitality and this is centred around this business model and adding AI on top of this.”

    In another session, Kai Zenner, Head of Office & Digital Policy Advisor of EU Parliament and Dr. Agostino Ghiglia, Board Member of the Italian Data Protection Authority took part in a broader discussion on the AI EU Act and its global implications for the next generation of AI-driven unicorns.  

    Taking place at Dubai World Trade Centre (DWTC) until 18 October, GITEX GLOBAL presents its biggest, most international edition in its 44th year, welcoming over 6,500 exhibitors, 1,800 startups, 1,200 investors alongside governments from more than 180 countries.

    GITEX GLOBAL is seamlessly connecting the world’s largest network of tech events. Today, major events such as GITEX EUROPE Berlin, GITEX ASIA Singapore, GITEX AFRICA Morocco, and GITEX NIGERIA are under its umbrella with all fostering collaboration and driving innovation to shape the tech landscape of tomorrow.

    MIL OSI Africa –

    January 23, 2025
  • MIL-OSI NGOs: Israel/ OPT: Israel must rescind latest ‘evacuation’ orders for North Gaza and allow immediate, unhindered humanitarian access

    Source: Amnesty International –

    Israeli authorities must rescind the cruel and unlawful “evacuation” orders – Israel’s euphemism for forced displacement –   issued over the past week to residents of the North Gaza governorate and immediately allow the unhindered entry of essential supplies, including food and fuel to the area, said Amnesty International, as fears grow for the fate of civilians trapped under siege.

    In recent days, the civilian death toll across the occupied Gaza Strip has continued to mount and horrifying scenes have emerged following deadly Israeli air strikes, particularly in the North Gaza governorate. Civilians have had to endure relentless Israeli bombardment and shelling, without access to basic supplies critical for the survival of the civilian population, including food and clean water. 

    It has been nine months since the ICJ warned the risk of genocide in Gaza is real yet Israeli authorities continue to violate the provisional measures ordered by the court.

    Heba Morayef, Amnesty International

    The latest “evacuation” orders issued by the Israeli military to cities and camps across the North Gaza governorate on 7, 10 and 12 October and the tightened siege on the area are a terrifying escalation of the long list of horrors inflicted on people living in the area north of Wadi Gaza since October 2023. 

     “The Israeli military has intensified its efforts to forcibly displace the entirety of the civilian population in the area north of Wadi Gaza to the south, starting with the North Gaza governorate, forcing civilians to choose between starvation or displacement, while their homes and streets are relentlessly pounded by bombs and shells,” said Heba Morayef, Middle East and North Africa’s Regional Director at Amnesty International. 

    “The world must stop standing by while Israel uses siege, starvation and atrocity crimes to forcibly displace and destroy civilians and civilian life.  These orders must be rescinded and there must be an immediate ceasefire by all parties to halt the avalanche of suffering that has been engulfing civilians in Gaza for over a year.”

    A year ago, on 12 October 2023, an estimated 1.1 million Palestinians living in the area north of Wadi Gaza were subjected to an unlawful mass “evacuation” order, which forced hundreds of thousands of people to flee south, seeking safety. For many months, the hundreds of thousands of people who remained north of Wadi Gaza were largely cut off from the rest of the Strip by a fortified Israeli military zone. In December 2023, the world’s leading experts on famine reported that hunger was particularly widespread and severe there, yet Israeli authorities repeatedly obstructed and denied humanitarian access to the area. In recent days the situation has grown even more desperate following the Israeli military’s tightened siege on the area. All three partially functioning hospitals in the north – Kamal Adwan, Al-Awda, and the Indonesian hospital – face “evacuation” orders. 

    “After a year of death and destruction, it is agonizing to hear from doctors in North Gaza that they have to perform multiple amputations every day, or from families trapped under siege that dozens of unrecognisable bodies are scattered on the streets or that people are unable to bury their loved ones amidst ceaseless bombardment. The scenes coming out of Jabalia refugee camp have been especially harrowing, for over a week, residents of the camp have been scared to leave their homes, even to look for a bag of flour for fear of being shot by the omnipresent quadcopter drones. What remains beyond any comprehension is how the international community has let this horror continue to happen again and again,” said Heba Morayef.

    “It has been nine months since the ICJ warned the risk of genocide in Gaza is real yet Israeli authorities continue to violate the provisional measures ordered by the court.”

    Global leaders must demand an immediate ceasefire to alleviate the unprecedented suffering that we have been witnessing over the past year. Israel has been emboldened, with the help of arms transfers from states like the US, to continue its destructive course in Gaza with total impunity.

    “As well as an immediate ceasefire and an end to Israel’s cruel and inhuman blockade on Gaza and its siege in the north, Israel must grant independent monitors immediate access to Gaza to investigate all attacks. There must be accountability for the devastation that has been waged against the people of Gaza over the past year,” said Heba Morayef. 

    MIL OSI NGO –

    January 23, 2025
  • MIL-OSI Banking: Huawei Launches Intelligent Stadium Solution to Facilitate Intelligent Upgrade

    Source: Huawei

    Headline: Huawei Launches Intelligent Stadium Solution to Facilitate Intelligent Upgrade

    [Dubai, UAE, October 15, 2024] During GITEX Global 2024, Huawei unveiled its Intelligent Stadium Solution at a forum themed AI Enables Smart Building Upgrade. The solution is intended for facilitating digital and intelligent transformation of stadium campuses. At the forum, Huawei discussed with business elites, industry experts, and leading partners how to seize tremendous opportunities that AI brings and use digital and intelligent technologies to lead industry development.
    Liu Chao, CEO of Huawei’s Manufacturing and Large Enterprises BU, delivered a speech at the forum. He said that Huawei aims to become the preferred partner for digital and intelligent transformation in the Middle East’s real estate industry by advancing technologies, leveraging experience, and developing the industry ecosystem. “Looking toward the future, Huawei will continue to integrate smart technology into industries by acting as a bridge and an amplifier. We are committed to expanding our industry knowledge and delivering better services to global customers and partners. Eventually, we will bring intelligence to the Middle East and the world,” said Mr. Liu.
    Liu Chao, CEO of Huawei’s Manufacturing and Large Enterprises BU

    Eric Li, President of Huawei’s Product Portfolio Marketing Solution Sales Dept, mentioned in his speech that the building industry’s digital journey has just begun, but it holds enormous potential for the future. He also emphasized that AI will bring buildings and campuses into an era of intelligence, transforming the management and operational models of an intelligent campus. “Huawei advocates using ICTs to redefine the campus. We have been leveraging the advantages of our product portfolios to redefine campus connectivity, platform, and business, helping global customers build digital and intelligent campuses,” said Eric Li.
    Eric Li, President of Huawei’s Product Portfolio Marketing Solution Sales Dept

    Viga Liu, Director of Huawei’s Intelligent Campus Marketing & Solution Sales Dept, delivered a keynote speech at the forum. He believes that AI is enabling buildings and campuses to go digital, intelligent, green, and low-carbon at a faster pace. According to Viga Liu, Huawei has developed pioneering solutions such as Campus Service Network and Campus Digital Platform. “We have collaborated with our partners to assist over 1000 customers worldwide in building 10 Gbps, digital, and green intelligent campuses, including office campuses, stadium campuses, and commercial complexes.”
    Ahmad Bana, the Center of Excellence Manager at Waseef, an asset management company from Qatar, shared Waseef’s experience with digital and intelligent transformation of networks in employee apartments. Huawei’s Intelligent Campus Solution adopts a flat optical fiber architecture, which allows Waseef to save 80% of IT equipment room footprint and cabling space, as well as achieve more intelligent network O&M and more flexible bandwidth upgrades. Moreover, this architecture contributes to a green network that is future-proof for 30 years, provision of additional services, asset appreciation, and project success.
    OODA World, a global software vendor headquartered in France, specializes in delivering innovative software solutions for different industries. Méliné EOLMEZIAN-SOULIE, Vice President of Public Safety and Strategic Partner Ecosystem, highlighted that OODA’s Physical Security Information Management (PSIM) platform utilizes distinctive 3D native and real-time data visualization and command & control technologies to implement real-time situation awareness, automatic workflows, and centralized incident management. She said OODA will collaborate with Huawei to build campuses that are more intelligent.
    Techno Q, a system integrator from Qatar, participated in the forum. Saad Afzal, the Head of Solutions Architecture at Techno Q, stated in his speech that smart building solutions, based on data convergence and system integration, can unlock the value of data and provide targeted use cases for areas such as energy efficiency management, predictive maintenance, asset management, operational efficiency, and subscription-based value-added services. This can provide customers with enhanced user experience, reduce security risks, and improve management efficiency.
    Neuxnet, headquartered in Singapore, is dedicated to helping customers go digital and intelligent. According to Eric Yang, the Vice President of Product and Marketing at Neuxnet, stadiums are evolving toward being diversified, integrated, and intelligent, providing spectators with a spectacular experience before, during, and after sports events through various new technologies and applications. “By offering functions such as smart parking, navigation, ticketing services, and one-stop customer services, Neuxnet provides efficient management tools for stadium operators, and helps them create dynamic, technologically advanced, and sustainable sports stadiums,” said Eric Yang.
    Official release of the Intelligent Stadium Solution

    At the end of the forum, Huawei officially released its Intelligent Stadium Solution. Looking ahead, Huawei will continue to work with partners to help customers implement top-notch security assurance, operations management, communications assurance, spectating experience, and service experience, as well as innovate in management and service models, delivering brand-new sports stadium experiences in the digital and intelligent era.

    MIL OSI Global Banks –

    January 23, 2025
  • MIL-OSI Economics: Huawei Launches Intelligent Stadium Solution to Facilitate Intelligent Upgrade

    Source: Huawei

    Headline: Huawei Launches Intelligent Stadium Solution to Facilitate Intelligent Upgrade

    [Dubai, UAE, October 15, 2024] During GITEX Global 2024, Huawei unveiled its Intelligent Stadium Solution at a forum themed AI Enables Smart Building Upgrade. The solution is intended for facilitating digital and intelligent transformation of stadium campuses. At the forum, Huawei discussed with business elites, industry experts, and leading partners how to seize tremendous opportunities that AI brings and use digital and intelligent technologies to lead industry development.
    Liu Chao, CEO of Huawei’s Manufacturing and Large Enterprises BU, delivered a speech at the forum. He said that Huawei aims to become the preferred partner for digital and intelligent transformation in the Middle East’s real estate industry by advancing technologies, leveraging experience, and developing the industry ecosystem. “Looking toward the future, Huawei will continue to integrate smart technology into industries by acting as a bridge and an amplifier. We are committed to expanding our industry knowledge and delivering better services to global customers and partners. Eventually, we will bring intelligence to the Middle East and the world,” said Mr. Liu.
    Liu Chao, CEO of Huawei’s Manufacturing and Large Enterprises BU

    Eric Li, President of Huawei’s Product Portfolio Marketing Solution Sales Dept, mentioned in his speech that the building industry’s digital journey has just begun, but it holds enormous potential for the future. He also emphasized that AI will bring buildings and campuses into an era of intelligence, transforming the management and operational models of an intelligent campus. “Huawei advocates using ICTs to redefine the campus. We have been leveraging the advantages of our product portfolios to redefine campus connectivity, platform, and business, helping global customers build digital and intelligent campuses,” said Eric Li.
    Eric Li, President of Huawei’s Product Portfolio Marketing Solution Sales Dept

    Viga Liu, Director of Huawei’s Intelligent Campus Marketing & Solution Sales Dept, delivered a keynote speech at the forum. He believes that AI is enabling buildings and campuses to go digital, intelligent, green, and low-carbon at a faster pace. According to Viga Liu, Huawei has developed pioneering solutions such as Campus Service Network and Campus Digital Platform. “We have collaborated with our partners to assist over 1000 customers worldwide in building 10 Gbps, digital, and green intelligent campuses, including office campuses, stadium campuses, and commercial complexes.”
    Ahmad Bana, the Center of Excellence Manager at Waseef, an asset management company from Qatar, shared Waseef’s experience with digital and intelligent transformation of networks in employee apartments. Huawei’s Intelligent Campus Solution adopts a flat optical fiber architecture, which allows Waseef to save 80% of IT equipment room footprint and cabling space, as well as achieve more intelligent network O&M and more flexible bandwidth upgrades. Moreover, this architecture contributes to a green network that is future-proof for 30 years, provision of additional services, asset appreciation, and project success.
    OODA World, a global software vendor headquartered in France, specializes in delivering innovative software solutions for different industries. Méliné EOLMEZIAN-SOULIE, Vice President of Public Safety and Strategic Partner Ecosystem, highlighted that OODA’s Physical Security Information Management (PSIM) platform utilizes distinctive 3D native and real-time data visualization and command & control technologies to implement real-time situation awareness, automatic workflows, and centralized incident management. She said OODA will collaborate with Huawei to build campuses that are more intelligent.
    Techno Q, a system integrator from Qatar, participated in the forum. Saad Afzal, the Head of Solutions Architecture at Techno Q, stated in his speech that smart building solutions, based on data convergence and system integration, can unlock the value of data and provide targeted use cases for areas such as energy efficiency management, predictive maintenance, asset management, operational efficiency, and subscription-based value-added services. This can provide customers with enhanced user experience, reduce security risks, and improve management efficiency.
    Neuxnet, headquartered in Singapore, is dedicated to helping customers go digital and intelligent. According to Eric Yang, the Vice President of Product and Marketing at Neuxnet, stadiums are evolving toward being diversified, integrated, and intelligent, providing spectators with a spectacular experience before, during, and after sports events through various new technologies and applications. “By offering functions such as smart parking, navigation, ticketing services, and one-stop customer services, Neuxnet provides efficient management tools for stadium operators, and helps them create dynamic, technologically advanced, and sustainable sports stadiums,” said Eric Yang.
    Official release of the Intelligent Stadium Solution

    At the end of the forum, Huawei officially released its Intelligent Stadium Solution. Looking ahead, Huawei will continue to work with partners to help customers implement top-notch security assurance, operations management, communications assurance, spectating experience, and service experience, as well as innovate in management and service models, delivering brand-new sports stadium experiences in the digital and intelligent era.

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI Russia: Polytechnic University to collaborate with TMH Corporate University

    MILES AXLE Translation. Region: Russian Federation –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    On October 14, Polytechnic University signed a cooperation agreement with the autonomous non-profit organization of additional professional education “TMX Corporate University”. TMX (JSC Transmashholding) is the largest developer of modern rolling stock for railway and urban rail transport in Russia.

    The agreement was signed during the official visit of the delegation of the TMH Corporate University to the Polytechnic University.

    The document was signed by the rector of SPbPU, chairman of the SPbB RAS Andrey Rudskoy and the deputy general director for corporate development and project activities, member of the Management Board of JSC Transmashholding, director of the ANO DPO Corporate University TMH Natalia Shishlakova.

    For the Polytechnic University, Transmashholding is an important partner. Our cooperation has great prospects in scientific and technological activities, training of highly qualified personnel. The main thing is that we have common tasks and goals. I am confident that our interaction will be fruitful and mutually beneficial for both parties, – Andrey Rudskoy emphasized.

    The signing of the agreement opens up new opportunities in the field of education and scientific research. Joint educational projects and programs, exchange of experience, preparation of final qualification works in the form of projects or startups commissioned by TMH are planned.

    Cooperation with the Polytechnic University in the field of advanced training in mechanical engineering, especially in the field of diesel engine production, opens up new horizons for scientific research and development. Joint activities in the field of scientific research and experimental design work will allow us not only to apply advanced technologies, but also to train high-level specialists capable of responding to modern challenges, – noted Natalia Shishlakova.

    Technological development and scientific research in the field of transport require constant updating of knowledge and skills. The cooperation agreement opens new horizons for scientific activity for both students and teachers. Joint research projects aimed at solving current problems are expected to emerge in the coming years.

    Polytechnic University has significant experience in educational projects implemented jointly with industrial partners. Only in close cooperation with the real sector of the economy is it possible to train engineers who are able to work with new technologies and apply them in practice, who are able to think outside the box and find new solutions. Today, the market is experiencing a real hunger for specialists in engineering fields of training. This is confirmed by the fact that most of our students are already “booked” by enterprises in their third year. One of the promising areas of cooperation is the integration of blue-collar jobs into our main educational programs, – commented Vice-Rector for Educational Activities of SPbPU Lyudmila Pankova.

    Photo archive

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

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

    https://vvv.spbstu.ru/media/nevs/partnership/polytech-will-collaborate-with-corporate-university-tmkh/

    MIL OSI Russia News –

    January 23, 2025
  • MIL-OSI Economics: Huawei Launches Intelligent Stadium Solution to Facilitate Intelligent Upgrade Oct 15, 2024

    Source: Huawei

    Headline: Huawei Launches Intelligent Stadium Solution to Facilitate Intelligent Upgrade
    Oct 15, 2024

    [Dubai, UAE, October 15, 2024] During GITEX Global 2024, Huawei unveiled its Intelligent Stadium Solution at a forum themed AI Enables Smart Building Upgrade. The solution is intended for facilitating digital and intelligent transformation of stadium campuses. At the forum, Huawei discussed with business elites, industry experts, and leading partners how to seize tremendous opportunities that AI brings and use digital and intelligent technologies to lead industry development.
    Liu Chao, CEO of Huawei’s Manufacturing and Large Enterprises BU, delivered a speech at the forum. He said that Huawei aims to become the preferred partner for digital and intelligent transformation in the Middle East’s real estate industry by advancing technologies, leveraging experience, and developing the industry ecosystem. “Looking toward the future, Huawei will continue to integrate smart technology into industries by acting as a bridge and an amplifier. We are committed to expanding our industry knowledge and delivering better services to global customers and partners. Eventually, we will bring intelligence to the Middle East and the world,” said Mr. Liu.
    Liu Chao, CEO of Huawei’s Manufacturing and Large Enterprises BU

    Eric Li, President of Huawei’s Product Portfolio Marketing Solution Sales Dept, mentioned in his speech that the building industry’s digital journey has just begun, but it holds enormous potential for the future. He also emphasized that AI will bring buildings and campuses into an era of intelligence, transforming the management and operational models of an intelligent campus. “Huawei advocates using ICTs to redefine the campus. We have been leveraging the advantages of our product portfolios to redefine campus connectivity, platform, and business, helping global customers build digital and intelligent campuses,” said Eric Li.
    Eric Li, President of Huawei’s Product Portfolio Marketing Solution Sales Dept

    Viga Liu, Director of Huawei’s Intelligent Campus Marketing & Solution Sales Dept, delivered a keynote speech at the forum. He believes that AI is enabling buildings and campuses to go digital, intelligent, green, and low-carbon at a faster pace. According to Viga Liu, Huawei has developed pioneering solutions such as Campus Service Network and Campus Digital Platform. “We have collaborated with our partners to assist over 1000 customers worldwide in building 10 Gbps, digital, and green intelligent campuses, including office campuses, stadium campuses, and commercial complexes.”
    Ahmad Bana, the Center of Excellence Manager at Waseef, an asset management company from Qatar, shared Waseef’s experience with digital and intelligent transformation of networks in employee apartments. Huawei’s Intelligent Campus Solution adopts a flat optical fiber architecture, which allows Waseef to save 80% of IT equipment room footprint and cabling space, as well as achieve more intelligent network O&M and more flexible bandwidth upgrades. Moreover, this architecture contributes to a green network that is future-proof for 30 years, provision of additional services, asset appreciation, and project success.
    OODA World, a global software vendor headquartered in France, specializes in delivering innovative software solutions for different industries. Méliné EOLMEZIAN-SOULIE, Vice President of Public Safety and Strategic Partner Ecosystem, highlighted that OODA’s Physical Security Information Management (PSIM) platform utilizes distinctive 3D native and real-time data visualization and command & control technologies to implement real-time situation awareness, automatic workflows, and centralized incident management. She said OODA will collaborate with Huawei to build campuses that are more intelligent.
    Techno Q, a system integrator from Qatar, participated in the forum. Saad Afzal, the Head of Solutions Architecture at Techno Q, stated in his speech that smart building solutions, based on data convergence and system integration, can unlock the value of data and provide targeted use cases for areas such as energy efficiency management, predictive maintenance, asset management, operational efficiency, and subscription-based value-added services. This can provide customers with enhanced user experience, reduce security risks, and improve management efficiency.
    Neuxnet, headquartered in Singapore, is dedicated to helping customers go digital and intelligent. According to Eric Yang, the Vice President of Product and Marketing at Neuxnet, stadiums are evolving toward being diversified, integrated, and intelligent, providing spectators with a spectacular experience before, during, and after sports events through various new technologies and applications. “By offering functions such as smart parking, navigation, ticketing services, and one-stop customer services, Neuxnet provides efficient management tools for stadium operators, and helps them create dynamic, technologically advanced, and sustainable sports stadiums,” said Eric Yang.
    Official release of the Intelligent Stadium Solution

    At the end of the forum, Huawei officially released its Intelligent Stadium Solution. Looking ahead, Huawei will continue to work with partners to help customers implement top-notch security assurance, operations management, communications assurance, spectating experience, and service experience, as well as innovate in management and service models, delivering brand-new sports stadium experiences in the digital and intelligent era.

    MIL OSI Economics –

    January 23, 2025
  • MIL-OSI: JBTC Announces 3rd Quarter 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    JONESTOWN, Pa., Oct. 15, 2024 (GLOBE NEWSWIRE) — JBT Bancorp, Inc. (OTCQX: JBTC) reported quarterly earnings of $2,306,000 or $0.94 per share for the third quarter of 2024. Nine-month reported earnings are $5,780,000 or $2.37 per share, up from $5,720,000 or $2.35 per share in the prior year, representing a 1.05% increase in earnings.

    President & CEO Troy A. Peters stated: “This earnings increase is largely attributable to growing net interest income while actively slowing loan growth and focusing on overall liquidity. Net interest income is up 2.65% year-to-date as funding cost increases slowed during the summer. Most certificates of deposit have been repriced into current rates and the escalating costs of these deposits has leveled off and created a more stable environment.”

    More information can be found at OTC Markets at http://www.otcmarkets.com/stock/JBTC/overview.

    Contact: Andrea Shetterly, EAA
    ashetterly@jbt.bank
    Jonestown Bank & Trust Co.
    2 West Market Street
    Jonestown, PA 17038-0717
    Phone: 717-865-4246

    The MIL Network –

    January 23, 2025
  • MIL-OSI United Kingdom: Greens say “no more incineration” of waste

    Source: Green Party of England and Wales

    1. Press Releases

    Responding to the news that putting household rubbish in giant incinerators to make electricity is now the dirtiest way the UK generates power (BBC), Green Party Peer Baroness Jenny Jones said, 

    “I highlighted the issue of incineration stopping councils from recycling back in 2010 when I was on the London Assembly. This became a national issue about 10 years ago when local authorities across the country started to treat waste as a fuel, rather than a valuable source that could be reused or recycled.

    “Unless we have a complete moratorium on new incinerators and start to close down existing ones, we will not meet either of the government’s big targets. You can’t burn oil in the form of plastic and meet the target of Net Zero emissions in 2050; nor can you sign up local authorities to 20 year contracts to burn waste and expect them to recycle 65% of waste by 2030. The last government was finally waking up to the direct contradiction between environment and incineration, I hope this government will say no more incineration and put this big mistake into reverse.”

    15 October 2024 by Steve Hynd

    Press Releases

    MIL OSI United Kingdom –

    January 23, 2025
  • MIL-OSI: RTI Awarded Elite Supplier Status by Lockheed Martin’s Rotary and Mission Systems (RMS) Division

    Source: GlobeNewswire (MIL-OSI)

    SUNNYVALE, Calif., Oct. 15, 2024 (GLOBE NEWSWIRE) — Real-Time Innovations (RTI), the infrastructure software company for smart-world systems, has earned Elite Supplier status from Lockheed Martin’s Rotary and Mission Systems (RMS) division. This prestigious designation was awarded to only 37 of over 10,300 of Lockheed Martin’s suppliers. The recognition highlights RTI’s role in delivering innovative, data-centric software that powers mission-critical applications, enabling industry leaders like Lockheed Martin to integrate next-generation defense technologies and advance modular system design.

    Built on the industry-leading Data Distribution Service (DDS™) Standard, RTI Connext® enables Lockheed to seamlessly incorporate newer and advanced sensors into critical defense systems. Connext ensures that platforms such as Aegis remain adaptable to evolving global threats, supporting Lockheed Martin’s current and future battlefield requirements.

    As a long-term supplier, RTI also plays a pivotal role in facilitating Lockheed’s open architecture approach, ensuring that Aegis integrates radar, weapons, and command management systems efficiently. This framework is crucial for Navy programs and prevents vendor lock-in while adhering to Navy Open Architecture standards.

    Aegis is designed for interoperability among onboard and offboard sensors and weapon systems, including surface-to-air missiles and naval guns, and relies on a real-time command and control framework. Central to this rapid response is Connext, which ensures fast, secure, and reliable data transmission within sensor-to-shooter networks, as each engagement—from detection to interception—must occur in real time.

    As defense systems continue to evolve, leveraging AI and machine learning will become more essential for identifying and processing the vast amounts of data generated by additional sensors designed to spot increasing threats. While humans currently play a role, AI is needed to make faster, more informed decisions; this is where Connext comes in– ensuring the critical data flow that powers future combat systems.

    “We are proud to support Lockheed Martin and Aegis, the world’s most capable multi-mission combat system, which integrates a wide array of sensors and weapons to deliver unmatched Integrated Air and Missile Defense capabilities,” said John Breitenbach, Director of A&D at RTI. “Connext serves as the nervous system of these architectures, connecting all components to ensure real-time performance. Connext not only supports today’s missions but also lays the groundwork for the future of AI-enhanced defense systems.”

    Lockheed Martin works with over 10,300 suppliers across 46 countries. RTI is proud to be among less than 0.004% of suppliers who achieve Lockheed’s Elite Supplier designation, underscoring RTI’s dedication to performance, quality, and innovation in defense systems, further enabling 21st Century Security.

    For more information on RTI in Aerospace & Defense, please visit the RTI website.

    About RTI

    Real-Time Innovations (RTI) is the infrastructure software company for smart-world systems. RTI Connext® is the world’s leading software framework for intelligent distributed systems. Uniquely, Connext users can build systems that combine advanced sensing, fast control, and AI algorithms.

    With 2,000 customer designs, RTI excels at getting customers to production. RTI software runs over 250 autonomous vehicle programs, supports dozens of automotive ADAS and software-defined architectures, controls the largest power plants in North America, integrates over 400 major defense programs, drives a new generation of MedTech systems and robotics, and underlies Canada’s air traffic control and NASA’s launch control systems.

    RTI runs a smarter world.

    RTI is the market leader in products compliant with the Data Distribution Service (DDS™) standard. RTI is privately held and headquartered in Silicon Valley with regional offices in Colorado, Spain, and Singapore.

    Download a free trial of the latest, fully-functional Connext software today: http://www.rti.com/downloads

    The MIL Network –

    January 23, 2025
  • MIL-OSI: Apollo Launches Evergreen Secondaries Products for Global Wealth Investors

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced the launch of Apollo S3 Private Markets Fund (“ASPM US”) and Apollo S3 Private Markets Lux (“ASPM Lux,” together with ASPM US, “ASPM”), products designed to provide investors with turnkey solutions to access diversified portfolios of multi-asset secondary investments across private markets. 

    ASPM US is available through a semi-liquid, perpetual 1940 Act tender offer fund and is part of Apollo’s suite of products accessible to accredited U.S. investors. ASPM Lux is part of the Apollo Private Markets SICAV umbrella, a Luxembourg-based platform offering a holistic set of Apollo’s alternative solutions to wealth investors in EMEA, Asia and Latin America. ASPM Lux is accessible in multiple currencies to address local investor needs.

    ASPM offers a differentiated approach to secondaries through a flexible mandate to invest across the capital stack, execute a variety of transaction types and aim to offer diversification across vintages and managers. These new offerings seek to build a balanced and diversified portfolio with attractive growth potential and long-term capital appreciation.

    Apollo’s Stephanie Drescher, Partner and Chief Client and Product Development Officer, said, “The launch of ASPM underscores Apollo’s commitment to providing access to institutional quality alternative offerings tailored to individuals and wealth investors. We continue to make progress as global investors increasingly seek more diversification than what has historically been provided through traditional portfolio construction.”

    Steve Lessar, Partner and Co-Head of Apollo’s Sponsor & Secondary Solutions (S3) business, added, “We believe these new offerings will provide distinct access points to private market secondaries, leveraging the collective strengths of the Apollo Private Markets ecosystem and the Apollo S3 team, which has sourced over $160 billion in these types of transactions in the past year. It is our view that secondaries can provide a combination of attractive attributes not commonly found in other private market strategies, and we’re pleased to make that available to investors.”

    Apollo’s Jason Singer, Partner and Global Lead for Product Development and Veronique Fournier, Managing Director and Head of EMEA Global Wealth said, “Apollo is an innovator in bringing institutional quality products to individual investors in tailored formats. As investors look to supplement public markets holdings and diversify their overall portfolios, we believe that Apollo’s Global Wealth platform provides solutions that prioritize the needs of the end investor globally.”

    Important Information

    This material is neither an offer to sell nor a solicitation to purchase any security. Investors should carefully consider the investment objectives, risks, tax information, charges and expenses of ASPM US. This information and other important details about ASPM US are contained in the prospectus, which can be obtained by visiting http://www.apollo.com/aspm. Please read the prospectus carefully before investing. Prospective investors should be aware that an investment in ASPM US entails substantial risks. Prior to investing, prospective investors should consult with their own tax and legal advisors.

    Forward-Looking Statements

    This press release may contain certain forward-looking statements. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. As a result, investors should not rely on such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to: uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation of our investment strategy; uncertainties relating to capital proceeds; and other risk factors as outlined in ASPM US’s prospectus, statement of additional information, annual report and semi-annual report filed with the U.S. Securities and Exchange Commission.

    This communication has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product or be relied upon for any other purpose. The views expressed represent an assessment of market conditions at a specific point in time, are opinions only and should not be relied upon as investment advice regarding a particular investment or markets in general. Such information does not constitute a recommendation to buy or sell specific securities or investment vehicles. It should not be assumed that any investment will be profitable or will equal the performance of ASPM US or any securities or any sectors mentioned herein. Information contained herein has been obtained from sources deemed to be reliable, but not guaranteed.

    About Apollo
    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2024, Apollo had approximately $696 billion of assets under management. To learn more, please visit http://www.apollo.com.

    Apollo Contacts

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    (212) 822-0540
    IR@apollo.com

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    (212) 822-0491
    Communications@apollo.com  

    The MIL Network –

    January 23, 2025
  • MIL-OSI: Blackford Capital Expands Its Patio Consolidation Platform with the Acquisition of Empire Distributing

    Source: GlobeNewswire (MIL-OSI)

    GRAND RAPIDS, Mich., Oct. 15, 2024 (GLOBE NEWSWIRE) — Blackford Capital (“Blackford”), a leading lower middle market private equity firm, today announced the acquisition of Empire Distributing, an outdoor living and hearth distributor. This marks the latest add-on to the Patio Consolidation Platform (the “Platform”) and expands its operations to provide full product breadth with outdoor living and hearth items and achieve Blackford’s goal of creating an omnichannel platform to being a one-stop-shop for the backyard. The terms of the transaction are not being disclosed.

    Co-Founded in 1978 by Mike and Lois Rupp in Arcade, New York, Empire Distributing is a premier distributor of hearth and outdoor living products servicing more than 780 dealers across the Northeast and Midwest US. Empire Distributing’s hearth product offerings include fireplaces, stoves, gas logs, inserts; and its outdoor living items include fire pits, fire tables, BBQ grills, kitchen islands, outdoor heaters and fireplaces. With more than 75 product lines from over 100 industry-leading hearth and outdoor living manufacturers, and with nearly 200,000 square feet of office and warehouse space across three facilities, Empire Distributing brings extensive scaling capabilities and a dealer distribution channel to the Patio Consolidation Platform.

    Blackford’s vision has been to build an asset-light, multiproduct, omnichannel marketing Platform for the outdoor living market. To build it into a comprehensive one-stop-shop, Blackford acquired Starfire Direct and Artificial Turf Supply in 2022 and, subsequently, LTD Online in 2023. The acquisition of Empire Distributing is expected to dramatically increase the Platform’s size and add a new distribution channel as well as new geographies.

    “We are impressed by Empire Distributing’s strong sales talent and processes and are excited to welcome the company to the Patio Consolidation Platform,” said Martin Stein, Founder, and Managing Director of Blackford Capital. “With Empire we’re positioned to enhance our distribution channels, broaden our product offerings, capture synergy and build operational efficiencies. We believe the outdoor living segment of the residential homeowner market has strong growth potential, and this acquisition strengthens our ability to lead in that space.”

    Jeremy Rupp, President of family-and founder-owned Empire Distributing, is the son of the co-founders, and will continue to lead the company following the acquisition. Jeremy has 25 years of experience managing distribution and sales operations, and oversees warehouse management, logistical operations, purchasing/receiving and IT. His brother, Jason, will assume the role of New Business Development. The Rupps will remain employed at Empire Distributing through the acquisition and employees will retain their current positions as the company focuses on growth within the consolidation platform and in the broader hearth and outdoor living market.

    “We are delighted to join forces with Blackford and be part of Patio Consolidation Platform,” said Jeremy. “Partnering with their experienced management team will allow us to diversify our product lines and expand into new markets. We are excited to gain Blackford’s sourcing expertise and to partner with the existing Patio Platform companies.”

    Paramax served as the exclusive financial advisor to Empire Distributing on the transaction.

    Loeb & Loeb and Varnum LLP served as legal counsel for Blackford Capital. Mercantile Bank and Energy Impact Partners provided financing for the acquisition. Grant Thornton, Hilco Global and Plante Moran advised on financial and tax diligence.

    About Blackford Capital
    Founded in 2010, Blackford Capital is a private equity investment firm headquartered in Grand Rapids, Michigan. Blackford acquires, manages, and builds founder and family-owned, lower middle-market companies, with a focus on the manufacturing, industrial and distribution industries. Blackford has a track record of exceptional returns, a disciplined and relentless approach to value creation, and a focus on operational excellence and a compelling culture. In 2023, Blackford Capital was named to Inc’s list of Founder-Friendly Investors, was recognized by ACG Detroit with the 2023 M&A Dealmaker of the Year Award and awarded the 2023 Small Markets Deal of the Year award by both Buyouts Magazine and the Global M&A Network Atlas Awards. For more information, visit http://www.blackfordcapital.com.

    About Empire Distributing
    Empire Distributing began as a small regional hearth distributor in the 1980’s supplying a handful of independent hearth dealers with one appliance product line. From modest beginnings, our company has grown to be recognized in the Northeast as a premier distributor of both hearth and outdoor living products. Much has changed throughout our company’s 30-year history, but our dedication to providing customers with the best products and service remains constant. Our dedicated staff, humble beginnings, and desire for enriching our customers lives, drives our quest to remain a premier distributor in the hearth and outdoor living industries. To learn more about the company, visit https://www.empiredistributing.net.

    Media Contact: Jackson Lin Lambert
    (646) 717-4593
    jlin@lambert.com

    A photo accompanying this announcement is available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/0a642076-38f3-42b9-9c79-7d2283658745

    The MIL Network –

    January 23, 2025
  • MIL-OSI: Provident Bank’s First-Time Home Buyer Survey Reveals That While Homeownership Continues to Be Challenging, Many Americans Are Finding Their Home in Less Than a Year

    Source: GlobeNewswire (MIL-OSI)

    ISELIN, N.J., Oct. 15, 2024 (GLOBE NEWSWIRE) — Provident Bank, a leading New Jersey-based financial institution, has released the results of its First-Time Home Buyer Survey, taking stock of the generational differences in how Americans are navigating a complicated housing market. This year’s survey revealed that, not surprisingly, searching for a first home is extremely challenging. The top two factors impacting budgets are high mortgage rates and the lack of homes within an original budget. However, across generations, Americans appear to be buying their first home after only looking less than a year, signaling growing optimism in the market.

    Potential homeowners are prolonging the buying process and waiting to make a final purchase:

    Searching for a new home is challenging for first-time home buyers across generations. There are frequent bidding wars, which can lead to many making sacrifices for their dream home.

    • Over 40% of Gen Xers have been involved in a significant number (5+) of bidding wars during the home-buying process. Comparatively, only 30% of Millennial respondents have had the same experience.
    • Over 50% of Gen X respondents have had to significantly adjust their search criteria to stay within budget. Nearly 50% of both Millennials and Gen X respondents noted that they’ve settled for an older home that needs renovations to complete the buying process, compared to only 39% of Gen Z respondents.

    Amidst all of these challenges, Americans still look toward traditional financial avenues to complete the home-buying process:

    Overall, potential homeowners are still looking to traditional financial institutions to help them through the home-buying process. However, there are clear differences between how generations think about their financing options and the experts available to them.

    • Over half of respondents noted that their savings account is their main source of capital for their down payment. The second highest source of capital stems from access to first-time home buyer program grant(s).
    • 15% of Gen X respondents will look to a fintech company for financing for buying a first home compared to only 6% of Gen Z respondents. Nearly 56% of Gen X respondents will be speaking to a traditional bank as a source for the financing process in buying their first home.
    • Just under 50% of all Millennial respondents noted they would look to a traditional bank for financing to buy their first home.

    “The findings from this year’s survey support what we’ve been hearing directly from customers – in order to navigate a highly competitive home buying market, understanding all of the financing resources and capital requirements at your disposal is the key to success,” said Margaret Volk, Senior Vice President, and Director of Mortgage and Consumer Lending, at Provident Bank. “Especially as we enter a new phase of the mortgage rate cycle, we believe it is our responsibility to ensure our customers are equipped with the resources and information needed to navigate the financing process to achieve such an important life goal like buying a home.”

    The survey was conducted by Survey Monkey, a market research provider, on behalf of Provident Bank. The findings are based on 1,000 responses.

    About Provident Bank

    Founded in Jersey City in 1839, Provident Bank is the oldest community-focused financial institution based in New Jersey and is the wholly owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS). With assets of $24.07 billion as of June 30, 2024, Provident Bank offers a wide range of customized financial solutions for businesses and consumers with an exceptional customer experience delivered through its convenient network of 140 branches across New Jersey and parts of New York and Pennsylvania, via mobile and online banking, and from its customer contact center. The bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc. To learn more about Provident Bank, go to http://www.provident.bank or call our customer contact center at 800.448.7768.

    Media Contact:
    Provident Bank
    Keith Buscio – keith.buscio@provident.bank

    Vested
    providentbank@fullyvested.com

    The MIL Network –

    January 23, 2025
  • MIL-OSI: Second Gold for Regula at the Merit Awards for Cybersecurity

    Source: GlobeNewswire (MIL-OSI)

    RESTON, Va., Oct. 15, 2024 (GLOBE NEWSWIRE) — This independent award recognizes Regula’s innovation and technical expertise in identity verification. Even after more than 30 years in the market, Regula continues to explore the frontiers of new technologies. Its comprehensive solution enables businesses worldwide to stay ahead of sophisticated identity fraud and build stronger, more secure verification processes.

    This is Regula’s second consecutive Merit Award for Technology and Cybersecurity. The previous one was awarded to the company exactly one year ago, in 2023, when it was a first-time nominee.

    The Merit Awards is an independent program that highlights the best in current and next-generation innovations and technologies. “We’re excited to reveal the outstanding winners of the 2024 Merit Awards for Technology. These visionary innovators and companies have not only showcased exceptional skill in leveraging technology but have also set new standards of excellence,” said Marie Zander, Executive Director of the Merit Awards.

    Regula was recognized for its complete IDV solution designed to beat document and biometric fraud with the most comprehensive set of checks from a single vendor. Comprising two standalone and seamlessly integrated software products, Regula Document Reader SDK and Regula Face SDK, the solution streamlines the entire IDV procedure, enhances customer experience, and ensures security and compliance.

    Regula Document Reader SDK offers an innovative set of liveness detection checks that help detect the physical presence of documents and verify their dynamic security features, such as holograms. In remote customer onboarding scenarios, this is a crucial check to ensure that you are dealing with a real document, not a screen or a forged image.

    Regula Face SDK also performs liveness detection of biometric facial features. This check effectively protects organizations from diverse presentation attacks, including, but not limited to, video replays, video injections, screenshots, printed copies, masks, and others.

    “We are incredibly proud to receive the Merit Gold Award for Cybersecurity for the second consecutive year. This recognition underlines our non-stop research and development efforts to help organizations withstand even the most advanced fraud techniques. In today’s world of AI-generated fraud, traditional methods like ID scans or static face images are no longer reliable. Regula’s liveness-centric approach ensures that identity verification is based on real, physical objects—real people and real documents—by focusing on their dynamic features. So far, it is the most reliable way to tackle identity fraud, which is becoming more and more sophisticated,” says Ihar Kliashchou, Chief Technology Officer at Regula.

    Earlier this year, Regula won the Global InfoSec Awards (also for the second time in a row) for its commitment to expertise in developing hardware and software identity verification solutions. Also, the company won silver in the 2024 Globee Awards for Cybersecurity in the Identity Proofing and Corroboration category for securing identity verification processes in various industries across the world. At the beginning of 2024, Frost & Sullivan honored Regula with the Global Enabling Technology Leadership Award. The analysts recognized the company as a pioneer and industry leader in identity verification solutions.

    In today’s digital landscape, identity verification is a crucial component for any online business. That is why we at Regula never stop researching new threats and diving deeper into IDV techniques and technologies. Read more about our findings:

    About the Merit Awards

    Designed to recognize the efforts of global industries and the markets they serve, the Merit Awards acknowledge companies that have contributed to the continued growth of the market. The Annual Merit Awards are judged by industry executives, members of the media, and consultants.

    Learn more at http://www.merit-awards.com.

    About Regula

    Regula is a global developer of forensic devices and identity verification solutions. With our 30+ years of experience in forensic research and the most comprehensive library of document templates in the world, we create breakthrough technologies for document and biometric verification. Our hardware and software solutions allow over 1,000 organizations and 80 border control authorities globally to provide top-notch client service without compromising safety, security, or speed. Regula has been repeatedly named a Representative Vendor in the Gartner® Market Guide for Identity Verification.

    Learn more at http://www.regulaforensics.com.

    Contact:
    Kristina – ks@regulaforensics.com

    The MIL Network –

    January 23, 2025
  • MIL-OSI: GLMX Reports Third Quarter 2024 Activity

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) — GLMX, a leading global provider of transformative technology solutions for securities financing, money markets, and total return swaps, reported its third quarter platform activity along with significant developments in the company’s overall growth.

    • Average Daily Volume (ADV) of $1.01 trillion, up 99% year-on-year and the first quarter over $1 trillion in ADV for GLMX.
    • Average Daily Balance (ADB) of $2.75 trillion, up 74% year-on-year.

    3Q 2024 Highlights:

    • Balances on the GLMX platform reached $3 trillion, a significant milestone and a reflection of the firm’s dedication to delivering client success through innovative technology.
    • GLMX continues to onboard clients in Securities Lending for both equities and fixed income, demonstrating traction in a rapidly growing and changing market.
    • To support its geographic expansion and overall company growth, GLMX is pleased to welcome new hires in NY, London, and Singapore.
      • To address growing business in the Asia-Pacific region, GLMX has opened a new office in Singapore, and hired James Davis and Rachel Han. Davis has joined in a business development role, and Han has joined in a client operations role.
      • Industry veterans James Day (London) and Jay Epstein (NY), have been hired to fill senior roles in the newly created Client Relationship Management team.

    CEO Glenn Havlicek commented,“GLMX’s powerful growth trajectory has shown significant durability for what is now over 5 years. Very excitingly, we have begun to see this growth expand beyond our traditional repo business and into adjacent securities finance and money market segments. As ever, our sole priority is to consistently deliver purpose-built technology that supports the success of our clients across the entire securities financing and money market ecosystem.”

    About GLMX

    GLMX is a technology company serving the capital markets and is a leading global provider of transformative technology for equities and fixed income securities financing. With offices in North America, the United Kingdom, and Asia-Pacific, global buy-side and sell-side institutions rely on GLMX for access to enhanced market liquidity and to maximize trade lifecycle efficiency and reporting.

    GLMX’s powerful market position continues to grow as it diversifies, taking its proven model into adjacent market sectors such as Total Return Swaps (TRS), and Time Deposits, CDs, and Commercial Paper. For more information about GLMX, please visit http://www.glmx.com.

    Media inquiries, please contact:
    GLMX
    646 854-4569
    sales@glmx.com

    The MIL Network –

    January 23, 2025
  • MIL-OSI: ZOOZ Power Ltd. to Present at the LD Micro Main Event XVII on Wednesday, October 30, 2024

    Source: GlobeNewswire (MIL-OSI)

    Tel Aviv, Oct. 15, 2024 (GLOBE NEWSWIRE) — ZOOZ POWER Ltd. (NASDAQ and TASE: ZOOZ), the leading provider of Flywheel-based power boosting and power management solutions enabling ultra-fast multi ports EV charging, today announced that Erez Zimerman, Chief Executive Officer, will present at the LD Micro Main Event XVII in Los Angeles, on Wednesday, October 30, 2024, at 8:30am PT / 11:30am ET.

    Representatives of ZOOZ Power’s management will be available on site for one-on-one meetings. To schedule a meeting, please contact LD Micro or Miri Segal at msegal@ms-ir.com.

    A webcast of the presentation will be streamed live at the following link: https://me24.sequireevents.com/. A replay of the webcast will be available approximately 24 hours after the presentation ends.

    About ZOOZ Power

    ZOOZ Power is the leading provider of Flywheel-based power boosting and power management solutions enabling widespread deployment of ultra-fast multi ports charging infrastructure for electric vehicles (EV), while overcoming existing grid limitations.

    ZOOZ Power pioneers its unique Flywheel-based power boosting technology, enabling efficient utilization and power management of a power-limited grid at an EV charging site. Its Flywheel-based technology allows high-performance, reliable, and cost-effective ultra-fast charging infrastructure.

    ZOOZ Power’s sustainable, power-boosting solutions are built with longevity and the environment in mind, helping its customers and partners accelerate the deployment of fast-charging infrastructure, thus facilitating improved utilization rates, better efficiency, greater flexibility, and faster revenues and profitability growth. ZOOZ Power is publicly traded on NASDAQ and TASE under the ticker ZOOZ.

    For more information, please visit: http://www.zoozpower.com/

    About LD Micro

    LD Micro aims to be the most essential resource in the micro-cap world. Whether it is the Index, comprehensive data, or hosting the most significant events annually, LD’s sole mission is to serve as an invaluable asset for all those interested in finding the next generation of great companies. To learn more about LD Micro, visit http://www.ldmicro.com

    Investor Relations Contact:

    Miri Segal
    MS-IR LLC
    917-607-8654
    msegal@ms-ir.com

    Forward-Looking Statement

    This Press Release contains “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations, and assumptions of ZOOZ Power. All statements other than statements of historical facts contained in this press release, including statements regarding ZOOZ Power, and any of ZOOZ Power’s strategy and future operations are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause ZOOZ Power’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and other risks and uncertainties are more fully discussed in the “Risk Factors” section of ZOOZ Power’s most recent Annual Report on Form 20-F as filed with the U.S. Securities and Exchange Commission (“SEC”) as well as other documents that may be subsequently filed by ZOOZ Power from time to time with the SEC. The words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include, but are not limited to, statements relating to the limited operating history and evolving business model that make it difficult for investors to evaluate ZOOZ Power’s business and future prospects, material weaknesses identified in ZOOZ Power’s internal control over financial reporting and the potential results of ZOOZ Power being unable to remediate these material weaknesses, or identify additional material weaknesses in the future or otherwise failure to maintain an effective system of internal control over financial reporting, ZOOZ Power’s management’s determination that substantial doubt exists about the continued existence of ZOOZ Power as a “going concern”, changes to fuel economy standards or changes to governments’ regulations and policies in relation to environment or the success of alternative fuels which may negatively impact the EVs market and thus the demand for ZOOZ Power’s products, delays in deployment of public ultra-fast charging infrastructure which may limit the need and urgency for ZOOZ Power’s products, the potential outcome of ZOOZ Power’s collaborations with third parties for installation of its Flywheel-based power boosting solution, and the effects of the evolving nature of the war situation in Israel, and the related evolving regional conflicts, may adversely affect ZOOZ Power’s operations. These forward-looking statements are only estimations, and ZOOZ Power may not actually achieve the plans, intentions or expectations disclosed in any forward-looking statements, so you should not place undue reliance on any forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements made in this Press Release. ZOOZ Power’s management has based these forward-looking statements largely on current expectations and projections about future events and trends that such persons believe may affect ZOOZ Power’s business, financial condition and operating results. Forward-looking statements contained in this Press Release are made as of the date hereof, and none of ZOOZ Power or any of its representatives or any other person undertakes any duty to update such information except as may be expressly required under applicable law.

    The MIL Network –

    January 23, 2025
  • MIL-OSI: Why Some Experts are Predicting Gold will Trade in Range of $2,800/oz to $3,200/oz in 2025

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Oct. 15, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Gold, often referred to as the “safe-haven asset,” has been a cornerstone of global finance for centuries. Its value has historically been influenced by a myriad of factors, including economic indicators, geopolitical events, and market sentiment. According to expert analysts in a report by Skilling.com, the gold price prediction for 2024 is expected to be positive, with prices potentially reaching $2,500 per ounce. This is driven by the Federal Reserve’s monetary policy, interest rates, and global demand for safe-haven assets. Some experts predict that gold will trade in the range of $2,800-$3,200 in 2025, reflecting expectations of a Federal Reserve rate cut. The report said: “In the long term, the gold price prediction is influenced by factors such as inflation, central bank policies, and global economic trends. Analysts predict that the price of gold could reach $6,800 an ounce by 2040, estimating a rate of return of 7.2% per year. The increasing demand for gold as a safe-haven asset and the potential for a global recession are also driving factors behind the positive gold price prediction. Gold prices have been on a steady rise since 2023, with many analysts predicting a continued upward trend in 2024. According to J.P. Morgan Research, gold prices are expected to climb to $2,500/oz by the end of 2024, driven by factors such as U.S. fiscal deficit concerns, central bank reserve diversification into gold, inflationary hedging, and a fraying geopolitical landscape. This prediction is in line with other analysts’ predictions, with some predicting even higher prices, such as AG Thorson’s target of $3,000.” Active mining companies in the markets this week include RUA GOLD Inc. (OTCQB: NZAUF) (TSX-V: RUA), Newmont Corporation (NYSE: NEM) (TSX: NGT), OceanaGold Corporation (OTCQX: OCANF) (TSX: OGC), New Found Gold Corp. (NYSE: NFGC) (TSX-V: NFG), GoldMining Inc. (NYSE American: GLDG) (TSX: GOLD).

    Skilling.com concluded: “The current market trends also suggest a bullish outlook for gold prices in 2024. The World Gold Council reported that central banks purchased 1,037 tonnes of gold in 2023, with 2024 starting strongly with net purchases of 290 tonnes in the first quarter. This increased demand from central banks, combined with the ongoing economic uncertainty, is likely to drive gold prices higher in 2024. However, it’s worth noting that there are also bearish risks to the gold price prediction, such as a scenario where the Fed turns more aggressive in ensuring inflation swiftly reaches its target. Nevertheless, many analysts believe that the structural drivers that have helped gold’s rally so far will remain a critical bullish driving force going forward, making it likely for gold prices to hit another all-time high in 2024.”

    RUA GOLD’s (TSXV:RUA) (OTCQB:NZAUF) Drill Program Intersects Near Surface Gold at The Reefton Project – RUA GOLD Inc. (WKN: A4010V) (“RUA GOLD” or the “Company”) is pleased to provide an update from the drilling campaign underway at the Reefton Project on the South Island of New Zealand. The Company commenced its near mine drill program on the Murray Creek targets in July. A second drill rig was introduced in September to test the Capleston vein system. These historic mines collectively produced ~700koz of gold at 25.2g/t within a radius of ~20 kilometers.

    Robert Eckford, CEO of RUA GOLD commented: “Our five years of meticulous surface exploration work over the Reefton project is paying dividends from the outset of this drill program. Both of the initial drill holes have confirmed we are in right area and are locating these lodes. The near surface intercepts on Capleston are encouraging and makes for compelling economic ounces, it supports our thesis that the surface veins are continuous past the old workings. Despite the initial drill hole at Murray Creek hitting old workings, it is extremely encouraging that we have identified the dip angle of the Victoria lode and we have even more confidence with the subsequent hole that is underway now, and results from this will be ready in the next few weeks.”

    Capleston – On the second drill rig, which was introduced to test the Capleston vein system, the Company targeted an undeveloped and near-surface vein at the southern end of the two kilometer long historic Capleston project, the highest-grade producer of the Reefton Goldfield historically. Near surface targets lend themselves to early development and are the closest to transportation and infrastructure, providing low-cost operational advantages.

    The first diamond drill hole, DD_REF_043, intersected a 12m zone of quartz-pyrite-arsenopyrite in the hanging wall, with a 1m quartz vein from 31m to 32m @ 3.86 g.t Au. A legacy drill hole intercepted the southern lode at 33m downhole, with 1m @ 24g/t Au followed by 1m @ 2.5g/t Au1. Mapping has recorded historical waste samples up to 32.0g/t Au in the vicinity, and a strong soil anomaly enveloping the vein (up to 410ppb Au).

    Murray Creek – RUA GOLD reports the completion of the first hole testing the down-dip extension of the Victoria lode, DD_VIC_041, which is being evaluated by the team. This intersected the targeted reef at 344m down hole and encountered historical underground workings over a 4m length. It then exited out to the footwall before drilling on for an additional 20m.

    This confirms that the lode extension is accurate and, with the precise location confirmed, a second hole is underway that is 50m deeper down dip from the initial drill hole. The Company anticipates an intersection into an un-mined portion of the reef at around 350m. Results from this testing will be available in the coming weeks. CONTINUED… Read this full press release and more news for RUA GOLD at: https://www.financialnewsmedia.com/news-rua/

    Other recent developments in the mining industry of note include:

    Newmont Corporation (NYSE: NEM) (TSX: NGT) has recently announced it will sell its Akyem operation in the Republic of Ghana to Zijin Mining Group Co., Ltd. (“Zijin”) under a definitive agreement, for cash consideration of up to $1 billion. The sale is part of Newmont’s ongoing program to divest non-core assets as the Company makes a strategic shift to focus on its Tier 1 assets.

    Under the terms of the agreement, Newmont is expected to receive cash consideration of $900 million upon closing. A further $100 million is expected to be received upon the satisfaction of certain conditions. Proceeds from the transaction will support the Company’s capital allocation priorities, including strengthening the balance sheet and returning capital to shareholders.

    OceanaGold Corporation (OTCQX: OCANF) (TSX: OGC) recently reported that it will release its operational and financial results for the third quarter of 2024 after market close on Wednesday November 6th, 2024. The results will be made available on the Company’s website at http://www.oceanagold.com.

    Senior management will host a conference call / webcast to discuss the results on Thursday November 7th, 2024, at 10:00 am Eastern Time.

    Webcast and Conference Call Details:

    To register, please copy and paste the link into your browser: https://app.webinar.net/2wLnxVkYjlM
    Toll-free North America: +1-888-510-2154
    International: +1 437-900-0527

    New Found Gold Corp. (NYSE: NFGC) (TSX-V: NFG) recently announced the results of the first phase of channel samples from the Keats Trench and an update on the Iceberg Trench at the Queensway Project (“Queensway“), located on the Trans-Canada Highway 15km west of Gander, Newfoundland.

    Greg Matheson, COO of New Found, stated: “Our approach at the Keats Trench has been to systematically test across the entire exposed surface to accurately map the extent of gold mineralization and determine with more certainty the distribution and variability of the gold contained within the mineralized domain. This is the highest density of assay data at Keats obtained to date and we are extremely pleased to see the broad widths of high-grade mineralization carrying across the exposure which is largely in line with modelled mineralization from the drilling program. The assay grade data from the trench is another key component to building our geologic understanding of the mineralization and structural controls at Keats. Given some of the elevated high-grade gold encountered, with many individual samples exceeding 100 g/t and some above 1,000 g/t, the team is now completing a second phase of channel sampling. This Phase II program will include a more targeted assessment of the high-grade components of Keats and cross veins that were not well tested in the first phase.”

    GoldMining Inc. (NYSE American: GLDG) (TSX: GOLD) recently highlighted an updated Mineral Resource Estimate (“Whistler MRE”) that was announced by its publicly traded subsidiary, U.S. GoldMining Inc. (“U.S. GoldMining”) (NASDAQ: USGO) on October 7, 2024 for U.S. GoldMining’s Whistler Gold-Copper Project (the “Project”) located in Alaska, U.S.A.

    Alastair Still, Chief Executive Officer of GoldMining, commented: “Since the initial public offering of U.S. GoldMining in April 2023, we are extremely pleased by the progress of its exploration initiatives at the Whistler Project, which have resulted in strengthened confidence of the Whistler MRE by increasing the gold equivalent ounces in the indicated category by approximately 117% from prior estimates. The Project now contains 6.5 Moz AuEq in the indicated resource category and an additional 4.2 Moz AuEq in the inferred resource category. The successful 2023 drilling program and growth of the mineral resources at Whistler is an example of how our spin-out strategy continues to unlock value for GoldMining shareholders. We now hold over $175 million in cash and equities1 that help position us to advance strategic initiatives across our portfolio, which globally holds 12.5 million AuEq ounces of measured and indicated resources and 9.7 million AuEq ounces of inferred resources.”

    About FN Media Group:

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

    Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia

    Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup

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

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

    Contact Information:

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

    SOURCE: FN Media Group

    The MIL Network –

    January 23, 2025
  • MIL-OSI: HashiConf 2024 brings community and customers together to do cloud right with best practices for cloud infrastructure automation

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, Oct. 15, 2024 (GLOBE NEWSWIRE) — HashiCorp, Inc. (NASDAQ: HCP), The Infrastructure Cloud™ Company, is hosting its annual flagship conference, HashiConf, beginning today in Boston. More than 1,400 in-person attendees and 5,000 virtual viewers will join HashiConf to learn about new product announcements supporting enterprises as they scale their platform teams with comprehensive Infrastructure (ILM) and Security (SLM) Lifecycle Management. These new capabilities address Day 0 concerns related to launching enterprise cloud programs and adopting automation workflows like infrastructure as code (IaC) and identity-based access control, through Day 2+ concerns related to standardization, optimization, security, and compliance.

    With ILM and SLM on the HashiCorp Cloud Platform (HCP), enterprises can use shared services that bridge silos across infrastructure, security, and development teams, helping reduce technology costs, mitigate security concerns, and ship new applications faster. Today’s announcements build on over 10 years of work with more than 4,700 customers, and further enhance their ability to tackle the ongoing challenges of delivering successful cloud programs.

    Infrastructure Lifecycle Management
    Infrastructure Lifecycle Management uses infrastructure as code workflows and capabilities to build, deploy, and manage the full lifecycle of cloud infrastructure. ILM product announcements cover HashiCorp Terraform, Packer, Nomad, and Waypoint, including:

    • HCP Terraform Stacks (public beta) helps users coordinate, deploy, and manage interdependent Terraform configurations within IaC workflows and eliminates the need to manually track and manage cross-configuration dependencies.
    • Terraform migrate (public beta) automates the migration of common DIY workflows from Terraform Community Edition to HCP Terraform or Terraform Enterprise.
    • HCP Waypoint (generally available) is an internal developer portal with announcements for templates to codify golden patterns for Day 0 provisioning, add-ons for Day 1 updates, and actions (public beta) to manage Day N operations.
    • Nomad GPU enhancements in 1.9 (generally available) adds advanced GPU scheduling to support demanding AI workloads. This includes support for multi-tenant workloads sharing GPUs to maximize utilization and resource quotas to efficiently broker access to shared resources.

    Security Lifecycle Management
    Security Lifecycle Management uses identity-based security workflows and capabilities to protect, inspect, and connect the full lifecycle of secrets and data. SLM product announcements cover HashiCorp Vault, Boundary, and Consul, including:

    • HCP Vault Secrets adds new lifecycle management features, including auto-rotation (generally available), dynamic secrets (public beta), and dynamic cloud credentials for HCP Terraform (public beta) to support secrets lifecycle management for enterprises.
    • HCP Vault Radar (public beta) provides secret scanning and adds new features for unmanaged secrets prevention, hybrid agents, and guidance for remediation of a leaked secret.
    • Boundary transparent sessions (public beta) let authorized remote users securely connect to privileged resources without adding friction for end users.
    • Vault 1.18 (generally available) brings additional hardening for high-scale and high-throughput workloads. Additionally, enhanced PKI support for protocols like CMPv2 enables workloads such as 5G networks to automatically retrieve and rotate certificates.
    • Consul DNS views in 1.20 (generally available) allow secure and transparent service discovery between applications that are running on shared infrastructure using DNS. This makes it easier for application and service owners to migrate their applications from single-tenant clusters to a shared multi-tenant environment.

    HashiConf 2024 has five content tracks, with keynotes, sessions for practitioners, and sessions for business decision makers. In-person attendees can participate in HashiCorp Learn Labs focused on new product enhancements, as well as sit for a HashiCorp Cloud Engineer certification test for Terraform, Vault, or Consul. HashiConf sessions feature talks from leading global enterprises, including:

    • The Hartford accelerated its time to market by streamlining its cloud journey with HashiCorp products for faster deployment and improved agility.
    • Canva enhanced security and scalability by using dynamic secrets to manage third-party Kubernetes applications more efficiently, reducing operational complexity.
    • Adobe achieved greater scalability and resilience by using a cell architecture to scale Vault Enterprise, ensuring secure, high-availability environments for its global operations.
    • Skechers USA simplified its cloud provisioning processes with the combined power of HCP Terraform and ServiceNow, increasing operational efficiency and reducing manual efforts.
    • Toyota scaled cloud onboarding across global teams by using HCP Terraform and AWS Control Tower Account Factory for Terraform (AFT) for faster cloud adoption and more streamlined infrastructure management.
    • Clover achieved more efficient and flexible deployments with Nomad, implementing rainbow deployments to support rapid and reliable application updates.
    • Duke Energy will discuss its approach to Infrastructure Lifecycle Management in a fireside chat as part of the Day 1 (Oct. 15) keynote.
    • SAP will share insights from its deployment of Security Lifecycle Management practices in a fireside chat as part of the Day 2 (Oct. 16) keynote.

    “I’m excited to welcome our community to HashiConf 2024, where we’re unveiling new features and capabilities that respond to our customers’ need for Infrastructure and Security Lifecycle Management as they scale their cloud environments,” said Armon Dadgar, CTO and Co-Founder, HashiCorp. “With Terraform Stacks, we’re reimagining infrastructure as code, making it easier to build and deploy the same infrastructure multiple times, across multiple environments, regions, landing zones, or accounts within a cloud provider. And with new features across Vault and Boundary, we’re bringing important management capabilities to our security portfolio, including auto-rotation, dynamic secrets, and secret scanning to provide full lifecycle management for security.”

    “As organizations advance their cloud strategies, managing the complete application lifecycle is critical. While IaC has enabled enterprises to deploy applications quickly, the challenge now lies in managing and optimizing cloud environments at scale,” said Jevin Jensen, Research Vice President, Intelligent CloudOps and Edge, IDC. “HashiCorp’s platform approach to Infrastructure Lifecycle Management (ILM) helps organizations streamline their cloud operations and improve governance across diverse application landscapes, regions, and landing zones. This ensures security, cost efficiency, and agility throughout their cloud journey.”

    For more information and detailed coverage of all Infrastructure and Security Lifecycle Management announcements at HashiConf 2024, please visit the HashiCorp blog.

    About HashiConf
    HashiConf is HashiCorp’s global cloud conference, featuring 2+ days of conversations on the future of cloud automation with product announcements, technical sessions, hands-on labs, certifications, social events, and more. HashiConf 2024 is sponsored by AWS, Microsoft Azure, Google Cloud, Akamai, Carahsoft, Coder, Datadog, Palo Alto Networks, River Point Technology, TeraSky, Wiz, Atyeti, and Checkly. To register for a free virtual pass to HashiConf — with access to a dedicated platform to view the live streamed keynotes, educational content, and live chat with online attendees, as well as access to all virtual sessions on demand after the event — visit the conference website.

    About HashiCorp
    HashiCorp is The Infrastructure Cloud™ Company, helping organizations automate multi-cloud and hybrid environments with Infrastructure Lifecycle Management and Security Lifecycle Management. HashiCorp offers The Infrastructure Cloud on the HashiCorp Cloud Platform (HCP) for managed cloud services, as well as self-hosted enterprise offerings and community source-available products. The company is headquartered in San Francisco, California. For more information, visit hashicorp.com.

    All product and company names are trademarks or registered trademarks of their respective holders.

    Media and analyst contact
    Kate Lehman
    Senior Director, Corporate Communications
    media@hashicorp.com

    The MIL Network –

    January 23, 2025
  • MIL-OSI: Sky Quarry Partners with Atlas Roofing Corp. to Explore Asphalt Shingle Recycling

    Source: GlobeNewswire (MIL-OSI)

    Exploratory Relationship Will Assess and Develop Mutually Beneficial Processes for the Recovery of Waste Asphalt Shingle Material and Oil

    WOODS CROSS, Utah, Oct. 15, 2024 (GLOBE NEWSWIRE) — Sky Quarry Inc. (NASDAQ: SKYQ) (“Sky Quarry” or the “Company”), an oil production, refining, and development-stage environmental remediation company formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils, today announced it has entered into an exploratory relationship with Atlas Roofing Corporation (“Atlas”) to assess and develop mutually beneficial processes for asphalt shingle recycling.

    Atlas Roofing Corporation is an innovative, customer-oriented manufacturer of residential and commercial building materials. Atlas has grown from a single shingle-manufacturing plant into an industry leader with 33 facilities across North America. Atlas has partnerships with some of North America’s most respected companies, allowing Sky Quarry to provide new technologies to various markets.

    Under the partnership, Sky Quarry will collaborate with Atlas to explore the use of its closed loop recycling process and proprietary shingle extraction technology to recover both material and oil from Atlas’ waste shingles. In lab testing, Sky Quarry’s ECOSolv technology has demonstrated a material recovery rate of up to 95%, recycling of up to 99% of its solvent, and recovery of up to 99% of hydrocarbons.

    “As a leader in the building products industry, Atlas is an ideal partner to demonstrate our groundbreaking application capable of separating waste shingles into clean oil and other valuable materials,” said David Sealock, Chairman, CEO and Co-Founder of Sky Quarry. “Currently, there are no sustainably viable solutions for the disposal of waste asphalt shingles, and we believe this exploratory relationship will show how our sustainable business model can transform an environmental challenge into a profitable and sustainable prospect. We look forward to working with the team at Atlas to develop mutually beneficial processes for their waste shingles.”

    About Atlas Roofing Corporation

    From a single asphalt shingle manufacturing facility in 1982, Atlas has grown to 33 manufacturing facilities in North America providing worldwide product distribution. Today, products from the company’s four major divisions, Polyiso Roof & Wall Insulation, Shingles & Underlayments, Molded Products, and Web Technologies, are manufactured in state-of-the-art facilities and shipped from a network of manufacturing plants and distribution facilities in the United States, Canada, and Mexico. Atlas’ mission is to deliver leading products and solutions that enrich the lives of those they touch, by nurturing a culture of agility, teamwork, and accessibility that attracts the most talented people in their industries.

    Atlas Roofing Corporation is a wholly owned subsidiary of Hood Companies, Inc. Hood Companies is a privately owned, closely held holding company and is the parent to operating subsidiaries involved in the manufacture and distribution of forest and wood products, building and construction materials, and flexible and corrugated packaging products throughout North America. For more information, please visit atlas-arc.com.

    About Sky Quarry Inc.

    Sky Quarry Inc (NASDAQ: SKYQ) and its subsidiaries are, collectively, an oil production, refining, and a development-stage environmental remediation company formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils. Our waste-to-energy mission is to repurpose and upcycle millions of tons of asphalt shingle waste, diverting them from landfills. By doing so, we can contribute to improved waste management, promote resource efficiency, conserve natural resources, and reduce environmental impact. For more information, please visit http://www.skyquarry.com.

    Forward-Looking Statements

    This press release may include ”forward-looking statements.” All statements pertaining to our future financial and/or operating results, future events, or future developments may constitute forward-looking statements. The statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project,” or words of similar meaning. Such statements are based on the current expectations and certain assumptions of our management, of which many are beyond control. These are subject to a number of risks, uncertainties, and factors, including but not limited to those described in disclosures. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance, or our achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. We neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” and elsewhere in the offering statement filed with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained.

    Investor Relations
    Chris Tyson
    Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    SKYQ@mzgroup.us
    http://www.mzgroup.us

    Company Website
    https://investor.skyquarry.com/

    The MIL Network –

    January 23, 2025
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