NewzIntel.com

Category: Machine Learning

  • MIL-OSI: Telnyx launches AI Accelerator with $20k in free credits

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, Feb. 17, 2025 (GLOBE NEWSWIRE) — Telnyx, a global provider of innovative communications solutions, has launched an AI Accelerator program to help new businesses scale, with up to $20K in free credits for enterprise-grade communications infrastructure with an AI use case.

    The program supports startups building AI-driven VoIP applications, communication tools, call centers, IOT apps, and real-time WebRTC solutions. Participants will receive exclusive discounts, priority support, and full access to Telnyx’s AI voice, WebRTC SDKs, and Flow automation tools.

    “We understand the challenges startups face because we’ve been there. That’s why we’re removing barriers, giving growing companies the freedom to scale without worrying about communication costs or capabilities,” said Ian Reither, COO of Telnyx.

    Eligible growing companies can apply to build and scale without restrictive pricing models or limited feature sets. Unlike competitors, Telnyx offers complete access to its network, flexible pricing, and a developer-friendly API suite.

    Apply now to qualify for up to $20K in free credits.

    For media inquiries, please contact:
    Telnyx Media Relations
    press@telnyx.com

    The MIL Network –

  • MIL-OSI: Baltic Horizon Fund consolidated unaudited results for Q1-Q4 2024

    Source: GlobeNewswire (MIL-OSI)

    Management Board of Northern Horizon Capital AS has approved the unaudited financial results of Baltic Horizon Fund (the Fund) for the twelve months of 2024.

    Our strategic ambitions
    In 2024, the Fund’s management team made the strategic decision to implement key performance indicators (KPIs) as a means to effectively measure and track performance. This decision stems from the recognition that clear and measurable benchmarks are essential for evaluating progress towards the Fund’s objectives. By defining specific KPIs, the team aims to enhance transparency, accountability, and facilitate decision-making processes.

    The focus of the Fund management team is and will be on these major objectives:

    • Portfolio occupancy of at least 95% by end of June 2025;
    • Loan-to-Value target at 50% or lower;
    • To consider disposing of non-strategic assets over the next 18 months;
    • Clear ESG and refurbishment strategy for the next 1-2 years with an aim to reach the portfolio’s NOI potential of EUR 18 million by 2027;
    • Maintaining 100% BREEAM or LEED certified portfolio;
    • Achieving not less than 4 stars from GRESB assessment.

    As we recap our goals for 2024, we can report the following achievements:

    We have successfully achieved 100% portfolio certification.

    Despite receiving a 3-star GRESB rating in 2024, we have thoroughly analysed the assessment results and developed an action plan to secure a 4-star GRESB rating in 2025.

    Although we did not reach our target of 90% portfolio occupancy by the end of 2024, we made significant progress, achieving an 86.5% occupancy rate based on lease signing date.

    We have recently announced our disposal strategy to reduce LTV level to the target level. Several disposal processes have already commenced as of February 2025, with the closing of transactions planned for later in the year.

    Looking ahead to 2025, we will continue with the same solid strategy and goals that will stabilize the Fund’s financial position and maximize the potential of its portfolio.

    Leasing performance

    In a challenging environment characterized by increasing real estate market vacancies across all Baltic states in recent periods, the Fund also faced outflows of some tenants, however it has demonstrated its adaptability and the attractiveness of its properties by renewing a significant amount of existing leases and signing a substantial number of new leases in 2024. This success was primarily attributable to significant deals with prominent anchor tenants such as Narbutas in Meraki (3,200 sq. m) and Apollo Group in Coca-Cola Plaza (2,200 sq. m), International School of Riga in S27 (3,680 sq. m) and significant leases in Galerija Centrs  signed with My Fitness (2,000 sq. m) and Expo GROUP (2,000 sq. m).

    The Fund team has been diligently negotiating with current tenants to extend lease agreements, while also actively engaging with new tenants to fill the vacancies.  These efforts have resulted in lease renewals of approximately 23,800 sq. m and a net lease inflow of approximately 4,800 sq. m

    During 2024, the Fund signed new leases for 22,743 sq. m, securing an annual rental income of EUR 2,945 thousand for future periods. Furthermore, 61 new tenants have been attracted to our buildings, while 69 existing tenants have decided to continue their cooperation with us.

    By the end of December 2024, the occupancy of the portfolio increased to 82.1%. Calculating based on the lease signing date, the occupancy already exceeds 86%. Signed premises will be handed over to tenants in 2025.

    Notably, less than 20% of the leases are set to expire during 2025, while the vast majority expire in 2026 and later. We aim to spread our lease terms evenly so that no more than 20% of our leases expire each year.  Recent successful leasing activity is reflected in the increase in the weighted average unexpired lease term until the first break option, which was 3.3 years as of 31 December 2024 (compared to 2.9 years as of 31 December 2023).

    Outlook
    In 2025 the Fund will focus on flexible and sustainable solutions to meet tenant demands and market conditions.

    Our key goals are increasing the occupancy of the portfolio and decreasing the LTV by way of repaying part of the bonds.

    In 2025, the Baltic commercial real estate market is anticipated to navigate both considerable challenges and emerging opportunities. Persisting economic uncertainty is expected to keep demand for commercial spaces subdued. Key factors influencing this trend include evolving consumer preferences, the continued expansion of e-commerce, and the sustained shift toward remote work, all of which are reshaping the need for office and retail properties.

    While economic forecasts cautiously suggest potential market stabilization in the coming year, a rapid recovery remains unlikely due to geopolitical uncertainties and evolving tenant and consumer needs. Recognizing these challenges, the Fund’s management strives to enhance financial stability by reducing leverage through partial bond repayment. This strategy aims to alleviate financial pressure, positioning the Fund for more sustainable financial performance.

    As part of this initiative, the Fund has announced a strategic plan to divest select assets, with the objective of reducing the LTV ratio to below 50% and fostering a more stable recovery. Up to three assets have been identified for potential disposal based on their life cycle, optimization potential, and alignment with the Fund’s long-term strategy. Among these, the Postimaja and CC Plaza complex in Tallinn has been introduced to the market, following the Fund’s successful achievement of 100% occupancy and WALT exceeding five years. Given limited opportunities for further value enhancement beyond its development potential—an avenue the Fund does not intend to pursue in the short term—the asset has been prioritized for sale. To facilitate the divestment process, the Fund has engaged Newsec Advisers UAB and Redgate Capital AS as financial advisors. The sales process was commenced in February, with the aim of closing later in the year.

    As of the date of release of this report, the Fund has a Letter of Intent (LOI) with a potential buyer and DD is in progress with Meraki property. According to LOI, the transaction would be finalized in spring 2025. At the end of 2024, the property had an occupancy of 86% and WAULT of 4.3 years. Due to anticipated vacancies in the office sector and an increasing supply, the Fund has decided not to proceed with the development of a second tower, for which the permit remains valid. The current market conditions, characterized by recovering investor activity, present an improved opportunity to sell the property. Potential buyers have also shown preliminary interest in Lincona and Pirita Center.

    If the divestment plan proceeds as anticipated, the Fund will be positioned to repay a significant portion of its bonds while continuing to invest in its remaining property portfolio. This will enable the Fund to concentrate on its core assets in alignment with its strategic objectives, providing a solid foundation for future growth.

    To achieve our goal of increasing portfolio occupancy, we are adapting to the evolving needs of our tenants and customers. The rise of e-commerce and online shopping has transformed the traditional concept of shopping centres. Visitors now seek not only to try on and purchase goods but also to enjoy entertainment and experiences.

    This trend is evident in the success of our food courts, such as Burzma and Dialogai, as well as the interactive exhibition Kosmopark, which attracted a significant number of visitors in Europa and now operates in Galerija Centrs. Following this success, we have signed a new 3-year lease with an entertainment operator to open a Danger Park on the second floor of Europa shopping centre in May 2025. We are also considering various entertainment concepts for Galerija Centrs. Additionally, we will continue to offer the community a variety of events and temporary pop-ups in both shopping centres.

    In line with our strategic goal to increase occupancy, we are reviewing the concept in Europa and seeking the best tenant mix. We are currently negotiating a lease with a 700 sq m. anchor fashion leader and have advanced discussions with several coworking operators who find the shopping centre and its location ideal for their concept, one of them has already signed a LOI for 1,300 sq m. We believe that the combination of entertainment and a wide range of catering options, which will expand from the food court to a newly planned restaurant zone on the first floor facing Konstitucijos Avenue, along with strategic changes to the tenant mix on the second and third floors, will maximize visitor flow and fully exploit the potential of the shopping centre.

    While the traditional shopping centre concept remains effective for Galerija, as evidenced by increasing foot flow and turnover, we are exploring additional concepts for currently vacant premises to complement our existing tenants and expand the range of services offered to visitors.

    Office tenants are currently looking not just for a place to work during the day, but rather for hybrid working spaces or built-to-suit solutions with increased expectation over ESG, workplace wellbeing features and easily reachable services, which become increasingly important. During the last year, we witnessed a higher demand for mixed-use projects that combine commercial spaces with services, including catering, medical clinics and fitness centres. We believe, that in the upcoming years demand for such concepts will grow further and will add value to the properties.

    We continue to adapt to market demands by diversifying our office tenant mix beyond traditional occupiers, integrating catering operators, medical clinics, and even kindergartens into our office buildings. This approach not only enhances tenant diversification but also meets the needs of both our customers and the surrounding communities.

    In the office sector, our primary challenge and focus in 2025 will be addressing the remaining vacancies in S27 and Upmalas. A significant milestone in 2024 was securing a lease agreement for approximately 3,680 sq. m. in S27 with the International School of Riga, a leading provider of international education serving students from preschool through high school, set to open at the end of 2025. Even in the current market conditions we are confident that the International School of Riga coming into the building together with the renovation and improvements that are being done will enable us to attract new tenant segments that recognise the value of synergy.

    Our commitment to supporting existing and prospective tenants, along with our ability to tailor office spaces to individual requirements, positions us well to lease the remaining areas in North Star and Meraki in the coming quarters.

     Our investments in green energy projects remain a key priority, and from Q1 2025, all our properties in Latvia and Lithuania will transition to using energy from remote solar panels. In Estonia, we are actively exploring solutions in our properties to reduce the reliance to gas. Additionally, we are evaluating new technologies and sustainability initiatives that align with our ESG strategy while enhancing energy efficiency, optimizing property performance, and reducing operational costs.

    Simultaneously, to reinforce its financial position, the Fund is committed to improving its debt service ratio and reducing loan-to-value levels. By focusing on increasing occupancy rates and optimizing property concepts, we aim to enhance asset performance and maximize net operating income. Adaptive leasing strategies, property repositioning, and targeted investments in high-demand segments will remain key priorities. These initiatives are designed to create long-term value for investors while ensuring the Fund remains resilient in a dynamic market environment.

    Baltic Horizon achieves a 100% BREEAM certified portfolio
    In 2025, we will continue advancing our social and environmental commitments. All our assets have been BREEAM-certified, and by the end of 2024, we achieved 98% green leases across our portfolio, with a target to further increase this share in the coming year.

    GRESB benchmarking
    Recently, we announced a 3-star GRESB rating of 80 points, falling 1.5 points short of the 4-star threshold. This decline, compared to previous years, reflects increasing industry-wide commitments, heightened requirements, and evolving best practices. The management team has conducted a thorough analysis of the assessment results and developed an action plan aimed at restoring the Fund’s 4-star rating in 2025.

    Net result and net rental income
    In 2024, the Group recorded a net loss of EUR 16.8 million compared with a net loss of EUR 23.0 million for 2023. The result was mainly driven by the property valuation loss. Earnings per unit for 2024 were negative at EUR 0.13 (2023: negative at EUR 0.19).

    The Group earned consolidated net rental income of EUR 11.6 million in 2024 (2023: 14.6 million). The results for 2023 include two months’ net rental income of the Domus Pro Retail and Office property (EUR 0.3 million) and five months’ net rental income of the Duetto properties (EUR 1.2 million), which were sold in February and May 2023, respectively.

    On an EPRA like-for-like basis, the portfolio net rental income in 2024 was 11.8% lower than in 2023, mainly due to vacancies in office properties in Latvia due to the expiry of the agreement with the main tenant in Upmalas Biroji BC and 100% vacancy of S27, as well as lower rental income in Europa due to the new anchor tenant IKI equipping the premises and opening in March.

    Portfolio properties in the retail segment contributed 53.3% (like-for-like 2023: 43.6%) of net rental income in 2024, followed by the office segment with 41.7% (like-for-like 2023: 50.9%) and the leisure segment with 5.0% (2023: 5.5%). 
    Retail assets located in the central business districts (Postimaja, Europa and Galerija Centrs) accounted for 42.2% of total portfolio net rental income in 2024. Total net rental income attributable to neighbourhood shopping centres was 11.1% in 2024.

    In 2024, investment properties in Latvia and Lithuania contributed 44.4% (like-for-like 2023: 41.8%) and 22.8% (like-for-like 2023: 31.1%) of net rental income, respectively, while investment properties in Estonia contributed 32.8% (like-for-like 2023: 27.1%).

    Investment properties
    At the end of Q4 2024, the Baltic Horizon Fund portfolio consisted of 12 cash flow generating investment properties in the Baltic capitals. The fair value of the Fund’s portfolio was EUR 241.2 million at the end of December 2024 (31 December 2023: EUR 250.4 million) and incorporated a total net leasable area of 118.3 thousand sq. m. The change in portfolio value was mainly driven by the changes in exit yields and upward adjustments of the weighted average cost of capital (WACC). During 2024 the Group invested approximately EUR 6.0 million in tenant fit-outs.

    Gross Asset Value (GAV)
    As of 31 December 2024, the Fund’s GAV was EUR 256.0 million (31 December 2023: EUR 261.1 million). The decrease compared to the prior year was mainly related to the negative revaluation of the Fund’s investment properties of approx. EUR 9.5 million and was partly offset by the private placement of new units which took place in September and resulted in a cash increase of approx. EUR 6.29 million.

    Net Asset Value (NAV)
    As of 31 December 2024, the Fund’s NAV was EUR 98.1 million (31 December 2023: EUR 109.5 million). The NAV decrease was mainly due to the revaluation of investment properties. At the end of September 2024 new units were issued resulting in approx. EUR 6.29 million of new equity. As of 31 December 2024, IFRS NAV per unit amounted to EUR 0.6833 (31 December 2023: EUR 0.9156), while EPRA net tangible assets and EPRA net reinstatement value were EUR 0.7267 per unit (31 December 2023: EUR 0.9546). EPRA net disposal value was EUR 0.6797 per unit (31 December 2023: EUR 0.9122).

    Interest-bearing loans and bonds
    As of 31 December 2024, interest-bearing loans and bonds (excluding lease liabilities) were EUR 149.0 million (31 December 2023: EUR 143.5 million). Annual loan amortisation accounted for 1.5% of total debt outstanding. In July 2024, the Fund successfully signed the Meraki loan with Bigbank for a total amount of EUR 10.3 million. A major part of the loan was used to repay short term bonds in the amount of EUR 8.0 million maturing in July 2024.

    As of 31 December 2024, the Fund’s consolidated cash and cash equivalents amounted to EUR 10.1 million (31 December 2023: EUR 6.2 million).

    Cash flow
    Cash inflow from core operating activities in 2024 amounted to EUR 9.9 million (2023: cash inflow of EUR 11.4 million).  Cash inflow from core operating activities decreased mainly due to the sale of Duetto and Domus Pro properties in H1 2023 and higher vacancies, mostly in S27 and Upmalas Biroji. Cash outflow from investing activities was EUR 7.0 million due to investments in existing properties and transaction costs (2023: cash inflow of EUR 19.9 million due to sales of assets). Cash inflow from financing activities was EUR 1.0 million (2023: cash outflow of EUR 30.5 million). In Q4 2024, the Fund prepaid loans in the amount of EUR 2.7 million and paid regular amortisation and interest on bank loans and bonds.

    Key earnings figures 

    EUR ‘000 Q1-Q4 2024 Q1-Q4 2023 Change (%)
    Net rental income 11,588 14,617 (20.7%)
    Administrative expenses (2,373) (2,617) (9.3%)
    Net other operating income 18 44 (59.1%)
    Losses on disposal of investment properties (863) (4,047) (78.7%)
    Valuation gains (losses) on investment properties (15,581) (21,876) (28.8%)
    Operating profit (loss) (7,211) (13,879) (48.0%)
    Net financial expenses (10,344) (9,750) 6.1%
    Profit (loss) before tax (17,555) (23,629) (25.7%)
    Income tax 774 656 18.0%
    Net profit (loss) for the period (16,781) (22,973) (27.0%)
           
    Weighted average number of units outstanding (units) 143,562,514 119,635,429 20.0%
    Earnings per unit (EUR) (0.12) (0.19) (39.1%)

    Key financial position figures

    EUR ‘000 31.12.2024 31.12.2023 Change (%)
    Investment properties 241,158 250,385 (3.7%)
    Gross asset value (GAV) 256,048 261,138 (1.9%)
           
    Interest-bearing loans and bonds 148,989 143,487 3.8%
    Total liabilities 157,953 151,606 4.2%
           
    IFRS NAV 98,095 109,532 (10.4%)
    EPRA NRV 104,333 114,205 (8.6%)
           
    Number of units outstanding (units) 143,562,514 119,635,429 20.0%
    IFRS NAV per unit (EUR) 0.6833 0.9156 (25.4%)
    EPRA NRV per unit (EUR) 0.7267 0.9546 (23.9%)
           
    Loan-to-Value ratio (%) 61.8% 57.3% –
    Average effective interest rate (%) 6.7% 5.2% –

    During Q4 2024, the average actual occupancy of the portfolio was 81.0% (Q3 2024: 80.1%). The occupancy rate increased to 82.1% as of 31 December 2024 (30 September 2024: 80.5%).

    Overview of the Fund’s investment properties as of 31 December 2024

    Property name Sector Fair value1 NLA Direct property yield Net initial yield Occupancy rate
    (EUR ‘000) (sq. m) 20242 20243
    Vilnius, Lithuania            
    Europa SC Retail 35,946 17,092 2.3% 2.8% 80.6%
    North Star Office 19,548 10,734 6.5% 7.0% 91.8%
    Meraki Office 16,3804 7,833 1.2% 1.5% 86.3%
    Total Vilnius   71,874 35,659 3.0% 3.6% 85.2%
    Riga, Latvia            
    Upmalas Biroji BC Office 19,224 11,203 3.7% 4.2% 64.1%
    Vainodes I Office 15,900 8,128 8.8% 8.8% 100.0%
    S27 Office 11,360 7,303 (0.6%) (0.9%) –
    Sky SC Retail 4,900 3,260 8.6% 8.5% 100.0%
    Galerija Centrs Retail 60,020 19,423 3.2% 4.1% 84.7%
    Total Riga   111,404 49,317 3.7% 4.5% 71.0%
    Tallinn, Estonia            
    Postimaja & CC Plaza complex Retail 21,800 9,232 3.7% 6.7% 100.0%
    Postimaja & CC Plaza complex Leisure 13,190 7,869 4.8% 4.3% 97.7%
    Lincona Office 13,100 10,767 6.4% 7.4% 88.5%
    Pirita SC Retail 9,790 5,425 6.7% 9.2% 97.1%
    Total Tallinn   57,880 33,293 4.9% 6.7% 95.3%
    Total active portfolio   241,158 118,269 3.8% 4.7% 82.1%
    1. Based on the latest valuation as of 31 December 2024 and recognised right-of-use assets.  
    2. Direct property yield (DPY) is calculated by dividing annualized NOI by the acquisition value and subsequent capital expenditure of the property.
    3. The net initial yield (NIY) is calculated by dividing annualized NOI by the market value of the property.
    4. Meraki value measured at disposal price. Market value according to independent property valuators Newsec is EUR 17,490,000.

    CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

    EUR ‘000 01.10.2024 01.10.2023 01.01.2024 01.01.2023
    – 31.12.2024 – 31.12.2023 – 31.12.2024 – 31.12.2023
    Rental income 3,779 3,755 15,136 17,743
    Service charge income 1,145 1,487 4,744 6,008
    Cost of rental activities (2,205) (2,348) (8,292) (9,134)
    Net rental income 2,719 2,894 11,588 14,617
             
    Administrative expenses (644) (631) (2,373) (2,617)
    Other operating income (expenses) 3 29 18 44
    Losses on disposal of investment properties (245) (237) (863) (4,047)
     Valuation losses on investment properties (3,052) (7,250) (15,581) (21,876)
    Operating profit (loss) (1,219) (5,195) (7,211) (13,879)
             
    Financial income 169 29 196 104
    Financial expenses (2,789) (2,538) (10,540) (9,854)
    Net financial expenses (2,620) (2,509) (10,344) (9,750)
             
    Profit (loss) before tax (3,839) (7,704) (17,555) (23,629)
    Income tax charge 457 (53) 774 656
    Profit (loss) for the period (3,382) (7,757) (16,781) (22,973)
           
    Other comprehensive income that is or may be reclassified to profit or loss in subsequent periods
    Net gain (loss) on cash flow hedges (446) (759) (1,003) (1,273)
    Income tax relating to net gain (loss) on cash flow hedges 1 64 52 123
    Other comprehensive income (expense), net of tax, that is or may be reclassified to profit or loss in subsequent periods (445) (695) (951) (1,150)
             
    Total comprehensive income (expense) for the period, net of tax (3,827) (8,452) (17,732) (24,123)
             
    Basic earnings per unit (EUR) (0.02) (0.06) (0.13) (0.19)
    Diluted earnings per unit (EUR) – – (0.12) –
                 

    CONSOLIDATED STATEMENT OF FINANCIAL POSITION

    EUR ‘000 31.12.2024 31.12.2023
    Non-current assets    
    Investment properties 241,158 250,385
    Intangible assets 4 11
    Property, plant and equipment 5 4
    Derivative financial instruments 1 295
    Other non-current assets 1,225 647
    Total non-current assets 242,393 251,342
         
    Current assets    
    Trade and other receivables 2,800 2,591
    Prepayments 802 402
    Derivative financial instruments – 621
    Cash and cash equivalents 10,053 6,182
    Total current assets 13,655 9,796
    Total assets 256,048 261,138
         
    Equity    
    Paid in capital 151,495 145,200
    Cash flow hedge reserve (420) 531
    Retained earnings (52,980) (36,199)
    Total equity 98,095 109,532
         
    Non-current liabilities    
    Interest-bearing loans and borrowings 98,491 64,158
    Deferred tax liabilities 1,898 2,774
    Other non-current liabilities 1,446 1,079
    Total non-current liabilities 101,835 68,011
         
    Current liabilities    
    Interest-bearing loans and borrowings 50,736 79,584
    Trade and other payables 4,473 3,343
    Income tax payable 14 6
    Other current liabilities 895 662
    Total current liabilities 56,118 83,595
    Total liabilities 157,953 151,606
    Total equity and liabilities 256,048 261,138

    For additional information, please contact:

    Tarmo Karotam
    Baltic Horizon Fund manager
    E-mail tarmo.karotam@nh-cap.com
    www.baltichorizon.com

    The Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS. 

    Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com

    To receive Nasdaq announcements and news from Baltic Horizon Fund about its projects, plans and more, register on www.baltichorizon.com. You can also follow Baltic Horizon Fund on www.baltichorizon.com and on LinkedIn, Facebook, X and YouTube.

    This announcement contains information that the Management Company is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above distributors, at 19:30 EET on 17 February 2024.

    Attachment

    The MIL Network –

  • MIL-OSI: Societe Generale: Information regarding executed transactions within the framework of a share buyback program (outside the liquidity agreement)

    Source: GlobeNewswire (MIL-OSI)

    INFORMATION REGARDING EXECUTED TRANSACTIONS WITHIN THE FRAMEWORK OF A SHARE BUYBACK PROGRAM (OUTSIDE THE LIQUIDITY AGREEMENT)

    Regulated Information

    Paris, 17 February 2025

    (In accordance with article 5 of Regulation (EU) No 596/2014 on Market Abuse Regulation and article 3(3) of Delegated Regulation (EU) 2016/1052 supplementing Regulation (EU) No 596/2014 through regulatory technical standards concerning the conditions applicable to buyback programs and stabilization measures)

    As announced on Thursday 6 February 2025, Societe Generale started on Monday 10 February 2025, an ordinary share buyback program for EUR 872 million for the purpose of shares cancellation.

    Societe Generale received all necessary authorizations from supervisory authorities. These buybacks will be carried out in compliance with the conditions, notably regarding the maximum price, set forth by the General Meeting of 22 May 2024 and presented in the description released on 17 May 2024, as well as in accordance with the Market Abuse Regulation. They are performed on the trading platforms on which Societe Generale shares are listed for trading or are traded, including the regulated market of Euronext Paris.

    Purchases performed during the period from 10 to 14 February 2025 are described below. As of February 14, 2025, Societe Generale has completed 12% of its share buyback program, representing 0.4%* of its share capital.

    The liquidity contract concluded with Rothschild has also temporarily been suspended throughout the buyback period.

    Issuer name: Societe Generale – LEI O2RNE8IBXP4R0TD8PU41

    Reference of the financial instrument: ISIN FR0000130809

    Period: From 10 to 14 February 2025

    * Ratio between the number of shares repurchased and the 800,316,777 shares comprising the current share capital.

    Purchases performed by Societe Generale during the period

    Aggregated presentation by day and market

    Issuer name Issuer code (LEI) Transaction date ISIN Code Daily total volume (in number of shares) Daily weighted average price of shares acquired Platform
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 362 124 35,7689 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 199 120 35,7415 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 25 000 35,7473 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 10-Feb-25 FR0000130809 15 000 35,7792 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 398 546 36,1667 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 165 000 36,1551 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 19 000 36,1305 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 11-Feb-25 FR0000130809 12 000 36,1520 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 345 676 37,1056 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 150 000 37,0716 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 19 000 37,0939 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 12-Feb-25 FR0000130809 11 000 37,0842 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 305 947 37,2202 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 202 000 37,2104 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 28 000 37,1090 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 13-Feb-25 FR0000130809 15 000 37,1341 AQEU
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 347 390 36,9117 XPAR
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 176 000 36,9096 CEUX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 20 000 36,9106 TQEX
    SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 14-Feb-25 FR0000130809 12 000 36,9131 AQEU
          TOTAL 2 827 803 36,6008  

    Press contacts:

    Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
    Fanny Rouby_+33 1 57 29 11 12_ fanny.rouby@socgen.com

    Societe Generale

    Societe Generale is a top tier European Bank with more than 126,000 employees serving about 25 million clients in 65 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

    The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

    • French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
    • Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
    • Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

    Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

    In case of doubt regarding the authenticity of this press release, please go to the end of the Group News page on societegenerale.com website where official Press Releases sent by Societe Generale can be certified using blockchain technology. A link will allow you to check the document’s legitimacy directly on the web page.

    For more information, you can follow us on Twitter/X @societegenerale or visit our website societegenerale.com.

    Attachment

    The MIL Network –

  • MIL-OSI: Correction: Interim Management Statement Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    Correction to the announcement made at 07:00 on 17/02/2025 (Interim Management Statement Q1 2025): The RNS was dated incorrectly. All other information was correct:

    17 February 2025

    HARGREAVE HALE AIM VCT PLC
    (the “Company”)

    Interim Management Statement

    Q1 2025

    Introduction

    This interim management statement covers the first quarter of the 2024/25 financial year, 1 October 2024 to 31 December 2024. Investment performance measures contained in this report are calculated on a pence per share basis and include realised and unrealised gains and losses.

    Overview

    Once again, we have endured a difficult start to the financial year, albeit for very different reasons. The 2024 Autumn budget, preceded by some unhelpfully stark messaging, has weighed on economic activity. GDP, employment reports and PMI surveys all highlight a notable softening in the UK economy through the second half of (cal.) 2024.

    Measures of UK consumer and business confidence dipped, suggesting that households and companies were becoming increasingly cautious. Although a very significant increase in public spending is expected to support economic activity pickup in 2025, there is clear evidence that The Office for Budget Responsibility forecast for GDP to increase from 1.1% in 2024 to 2.0% in 2025 is likely to be revised lower when next updated.

    UK fiscal policy is seen as being negative to growth and positive for inflation. In the round, this adds up to fewer rate cuts in 2025. With higher inflation and lower growth undermining the case for lending to the UK Government, UK Gilt yields broke out to the upside and Sterling to the downside. The move higher in borrowing costs was exacerbated by higher yields in the US Treasuries market. The Government is on the back foot and will need to respond before the 2025 Autumn budget.

    None of this has been helpful for investor interest in UK equities with outflows increasing again after a period of improving sentiment through the early Summer. This was particularly acute for AIM and, more broadly, the IA UK Small Cap sector.

    Reflecting this, the FTSE AIM All-Share Index was noticeably weak ahead of and subsequent to the budget, with the index steadily declining for 7 months through to 31 December 2024. Within the period, the AIM All-Share index returned -2.32% in the three months to 31 December 2024, lagging the FTSE All Share Index (-0.35%). We continue to believe that many small companies trading on AIM offer exceptional value.

    Performance

    In the three months to 31 December 2024, the unaudited NAV per share decreased by 0.40 pence from 40.55 pence (cum-dividend) to 40.15 pence, giving a total return of -0.99%.

    The qualifying investments fell by 0.09 pence per share whilst the non-qualifying investments made a loss of 0.25 pence per share. The adjusting balance was the net of running costs and investment income.

    Qualifying Investments

    Aquis Exchange (+93.1%, +£1.66m) received a takeover offer from its larger Swiss peer SIX Exchange at 727p. This was a 120% premium to the previous closing price, a 45% premium to the average share price over the prior 12 months and slightly above the 2021 share price high of 720p. This equates to an exit multiple of 4.7x for the VCT. The transaction was approved on 18 December 2024 and is expected to complete in Q2 2025.

    PCI-PAL (+30.3%, +£1.09m) reported good FY24 results with revenues +20% to £18.0m and positive EBITDA of £0.9m. The company also reported strong SAAS metrics with ARR growing by 23%, Net Retention Rate at 102% and low churn. Following a £3.3m fundraise in March 2024, the balance sheet is strong with £4.3m cash. Positive news flow continued subsequently with a key contract renewal and in-line AGM trading update. Post period end, the company reported strong trading for the 6m to 31 December 2025 and re-iterated guidance for FY25.

    Cohort (+15.0%, +£0.65m) announced strong interim results for the 6m to 31 October 2024 with revenues increasing by 25% and a record order book of £541m. The company confirmed it remains on track to achieve market forecasts for FY25. Separately, Cohort announced the £74m acquisition of Australian-based satellite communications company EM Solutions. The acquisition was partly funded through existing cash & debt facilities, combined with a £40m fundraise at 875p.

    Following weak financial performance in FY24, Equipmake (-40.0%, -£0.93m) raised £3m in October 2024. The additional capital, when combined with cost action, has extended the company’s cash runway to March 2025. This was followed by the subsequent launch of a strategic review and a formal sale process.

    Fadel (-42.9%, -£0.72m) saw customer implementation delays and an unsuccessful new business tender. Revenue forecasts for FY24 were reduced by 12% from $14.8m to $13m. The high drop through of revenues to profits meant that projected FY24 EBITDA losses increased from $2.3m to $4m. The company has adopted a more disciplined approach to cost that has yielded an improved outlook for losses and cash performance in 2025.

    Team Internet (-27.7%, -£0.43m) shares fell sharply in Q4 2024 as the company announced that revenues at a recently acquired online marketing business Shinez would fall short of expectations. More recently the shares have begun to recover as the company announced it had received a preliminary takeover proposal.

    Non-Qualifying Investments

    The IFSL Marlborough UK Micro-Cap Growth Fund (+0.6%, +£0.06m) and IFSL Marlborough Special Situations Fund (-1.3%, -£0.13m) were broadly flat over the period. Within the non-qualifying portfolio, the weaker outlook for the UK economy following the Autumn budget impacted WH Smith, Wickes and Hollywood Bowl. Chemring also fell as earnings forecasts were impacted by rising national insurance costs and the curtailment of the company’s share buy-back in favour of preserving funds for organic investment.

    Portfolio structure

    The VCT is comfortably above the HMRC defined investment test and ended the period at 87.5% invested as measured by the HMRC investment test. By market value, the weighting to qualifying investments increased from 56.0% to 56.9%.

    The market remains very subdued with just two VCT qualifying IPOs within the last 12 months. There were two new equity investments into companies listed on AIM and one CLN into an existing portfolio company listed on AIM. We remain hopeful that improving market conditions will help drive an increase in deal flow during 2025.

    The new qualifying investments included a following on (CLN) investment into Rosslyn Data Technologies and new equity investments into Feedback and Ixico. There were no material disposals in the quarter. We sold two legacy tail investments (Gfinity and Surface Transforms) and trimmed our investment in Cohort following a period of strong share price performance.

    There were no substantial changes to the allocation to the two IFSL Marlborough Funds, non-qualifying equities, fixed income, ETFs or cash which respectively represented 13.4%, 6.8%, 12.9%, 0.4% and 9.6% of net assets.

    The HMRC investment tests are set out in Chapter 3 of Part 6 Income Tax Act 2007, which should be read in conjunction with this interim management statement. Funds raised by VCTs are first included in the investment tests from the start of the accounting period containing the third anniversary of the date on which the funds were raised. Therefore, the allocation of qualifying investments as defined by the legislation can be different to the portfolio weighting as measured by market value relative to the net assets of the VCT.

    Share Buy Backs & Discount

    3.9 million shares were acquired in the quarter at an average price of 38.27 pence per share. The share price decreased from 39.00p to 38.40p and on 31 December 2024 traded at a discount of 4.74% to the last published NAV per share (as at 27 December 2024, published on 31 December 2024).

    Post Period End

    The unaudited NAV per share increased from 40.15 pence to 40.22 pence (cum div) as at 7 February 2025, an increase of 0.17%. The FTSE AIM All-Share index increased by 0.09%.         

    END

    For further information please contact:

    Oliver Bedford, Canaccord Genuity Asset Management

    Tel: 020 7523 4837

    LEI: 213800LRYA19A69SIT31        

    The MIL Network –

  • MIL-OSI Russia: Joint Statement by the Saudi Finance Minister and IMF Managing Director at the conclusion of the Inaugural Al Ula Economic Conference for Emerging Market Economies

    Source: IMF – News in Russian

    February 17, 2025

    Al Ula, Saudi Arabia – February 17, 2025: A two-day inaugural annual global Conference on Emerging Market Economies was held in Al Ula, Saudi Arabia from February 16-17, co-hosted by the Saudi Finance Ministry and the International Monetary Fund (IMF). Mohammed Aljadaan, Finance Minister of Saudi Arabia, and Kristalina Georgieva, Managing Director of the IMF, made the following statement at the end of the conference:

    “We would like to thank Emerging Markets policymakers, academics, and representatives of the regional and international financial institutions for joining us and helping to make this first-ever Al Ula Economic Conference for Emerging Market Economies a successful forum for building greater collaboration and discussing the specific challenges facing emerging markets (EMs).

    “Over the past two days, we have discussed how emerging economies can navigate the risks and, importantly how they can embrace the opportunities ahead. One common emerging theme is the importance of unity of purpose and the need to continue working together to sustain EM economies’ resilience to shocks and sustain growth. Three takeaways to highlight:

     “First, this is a time of sweeping transformations—from technology to trade, or climate to capital flows. And these changes are reshaping the global economy. How all these changes will unfold remains to be seen. But we know that in a more uncertain and shock-prone world, building resilience through sound macroeconomic and financial policies must continue to be a priority.

    “Second, emerging markets are seizing these transformations to make their economies stronger. With widespread digitalization and ambitious policies, the prospects for harnessing the benefits of AI are promising. Tapping the potential of AI would enhance Emerging Market Economies’ productivity and resilience, but it will require reforms to boost investments in digital infrastructure and human capital. Deeper regional trade and financial integration would also be important.

    “Third, while these transformations offer great opportunities, we must work together to help avoid the very real risk of some countries falling behind. The first line of defense will of course be strong domestic policies and reforms to help seize these opportunities. But the international community can also support countries and reduce the risk of growing divergence.

    “We are proud to have co-hosted the first global forum that is focused solely on the economic prospects for Emerging Market Economies and we look forward to continuing the discussions in the year ahead and at the second Al Ula conference next year.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Wafa Amr

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/02/17/pr-25039-saudi-arabia-joint-statement-by-the-saudi-finance-minister-and-imf-md

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: Ress Life Investments A/S publishes Net Asset Value (NAV).

    Source: GlobeNewswire (MIL-OSI)

    Ress Life Investments
    Nybrogade 12
    DK-1203 Copenhagen K
    Denmark
    CVR nr. 33593163
    www.resslifeinvestments.com

    To: Nasdaq Copenhagen
    Date: 17 February 2025

    Corporate Announcement 06/2025

    Ress Life Investments A/S publishes Net Asset Value (NAV).

    Ress Life Investments A/S publishes the Net Asset Value (NAV) per share as of 31 January 2025.

    NAV per share in USD: 2594.43

    The performance during January is -0.03% in USD. The year-to-date net performance is        -0.03% in USD.

    Assets under management (AUM) are 284.6 million USD.     

    The NAV per share in EUR is from 5 February 2025 published on a daily basis. The NAV in EUR is published on the website of Nasdaq Copenhagen under the section AIF Companies and Funds, where the bid and ask prices are published. The daily NAV in EUR is calculated as the most recently published NAV in USD divided by the European Central Bank’s EUR/USD reference rate on the relevant day.

    Questions related to this announcement can be made to the company’s AIF-manager, Resscapital AB.

    Contact person:
    Gustaf Hagerud
    gustaf.hagerud@resscapital.com
    Tel + 46 8 545 282 27

    Note: The terms for subscription of shares, minimum subscription amount and redemption of shares are provided in the Articles of Association, Information Brochure and in the Key Information Document available on the Company’s website, www.resslifeinvestments.com.

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Joint Statement by the Saudi Finance Minister and IMF Managing Director at the conclusion of the Inaugural Al Ula Economic Conference for Emerging Market Economies

    Source: International Monetary Fund

    February 17, 2025

    Al Ula, Saudi Arabia – February 17, 2025: A two-day inaugural annual global Conference on Emerging Market Economies was held in Al Ula, Saudi Arabia from February 16-17, co-hosted by the Saudi Finance Ministry and the International Monetary Fund (IMF). Mohammed Aljadaan, Finance Minister of Saudi Arabia, and Kristalina Georgieva, Managing Director of the IMF, made the following statement at the end of the conference:

    “We would like to thank Emerging Markets policymakers, academics, and representatives of the regional and international financial institutions for joining us and helping to make this first-ever Al Ula Economic Conference for Emerging Market Economies a successful forum for building greater collaboration and discussing the specific challenges facing emerging markets (EMs).

    “Over the past two days, we have discussed how emerging economies can navigate the risks and, importantly how they can embrace the opportunities ahead. One common emerging theme is the importance of unity of purpose and the need to continue working together to sustain EM economies’ resilience to shocks and sustain growth. Three takeaways to highlight:

     “First, this is a time of sweeping transformations—from technology to trade, or climate to capital flows. And these changes are reshaping the global economy. How all these changes will unfold remains to be seen. But we know that in a more uncertain and shock-prone world, building resilience through sound macroeconomic and financial policies must continue to be a priority.

    “Second, emerging markets are seizing these transformations to make their economies stronger. With widespread digitalization and ambitious policies, the prospects for harnessing the benefits of AI are promising. Tapping the potential of AI would enhance Emerging Market Economies’ productivity and resilience, but it will require reforms to boost investments in digital infrastructure and human capital. Deeper regional trade and financial integration would also be important.

    “Third, while these transformations offer great opportunities, we must work together to help avoid the very real risk of some countries falling behind. The first line of defense will of course be strong domestic policies and reforms to help seize these opportunities. But the international community can also support countries and reduce the risk of growing divergence.

    “We are proud to have co-hosted the first global forum that is focused solely on the economic prospects for Emerging Market Economies and we look forward to continuing the discussions in the year ahead and at the second Al Ula conference next year.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Wafa Amr

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    MIL OSI Economics –

  • MIL-OSI Russia: Tatyana Golikova and Veronika Skvortsova opened the Center for Cognitive and Psychoemotional Health of the Federal Medical and Biological Agency of Russia

    Translartion. Region: Russians Fedetion –

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

    Tatyana Golikova and Veronika Skvortsova opened the Center for Cognitive and Psychoemotional Health of the Federal Medical and Biological Agency of Russia

    February 17, 2025

    Tatyana Golikova and Veronika Skvortsova opened the Center for Cognitive and Psychoemotional Health of the Federal Medical and Biological Agency of Russia

    February 17, 2025

    Tatyana Golikova and Veronika Skvortsova opened the Center for Cognitive and Psychoemotional Health of the Federal Medical and Biological Agency of Russia

    February 17, 2025

    Tatyana Golikova and Veronika Skvortsova opened the Center for Cognitive and Psychoemotional Health of the Federal Medical and Biological Agency of Russia

    February 17, 2025

    Previous news Next news

    Tatyana Golikova and Veronika Skvortsova opened the Center for Cognitive and Psychoemotional Health of the Federal Medical and Biological Agency of Russia

    Deputy Prime Minister Tatyana Golikova and the head of the Federal Medical and Biological Agency Veronika Skvortsova opened the Center for Cognitive and Psychoemotional Health of the Federal Medical and Biological Agency of Russia, which was created as a reference model for further scaling throughout the country.

    The center was opened on the basis of the Federal Center for Brain and Neurotechnology of the Federal Medical and Biological Agency of Russia, which combines the latest diagnostic and rehabilitation technologies, scientific and human resources potential and is one of the leading medical institutions in the country.

    “Today we have looked a little into the future. This is a unique innovative, scientific, educational, medical and production complex that allows us to develop the latest technologies. The technologies that have become possible here will be distributed throughout the Russian Federation, to those medical institutions that will use these methods and promote them. This is a huge part of the work that the Federal Medical and Biological Agency has done on behalf of the head of state. The development of these technologies became possible as a result of the implementation of the national project “Healthcare” and within the framework of the national projects “Long and Active Life” and “New Health Preservation Technologies” that have been “moving across the country” since January 1, 2025 – a technological leadership project that is designed to develop and promote technologies related to both maintaining health and achieving goals throughout the country,” said Tatyana Golikova.

    The tasks of the Center for Cognitive and Psychoemotional Health include scientific activities, development of new methods of treatment and diagnostics, implementation of new standards of therapy, creation of a system of objective assessment and support of human cognitive health.

    The best specialists are gathered here – neurologists, psychologists, psychotherapists, rehabilitation specialists and psychiatrists – for comprehensive work on the preservation and restoration of cognitive functions.

    In addition, the center’s work focuses on interaction with healthy people. Its goal is to prevent cognitive and psycho-emotional disorders, as well as to draw attention to the need to take care of one’s own mental health.

    “It is important that this reference center for cognitive and psycho-emotional health was created in the high-tech Center for Brain and Neurotechnology, which allows, when signs of ill health are found, to accurately identify the cause of these signs using a variety of diagnostic methods – genetic, morphological, visualization methods, neurophysiology and other functional methods. Thus, to help each person in a personalized, most targeted way,” Veronika Skvortsova emphasized.

    For the first time, a multidisciplinary approach and correction methods and protocols that have proven themselves in neurorehabilitation carried out at the Federal Center for Brain and Neurotechnology of the Federal Medical and Biological Agency of Russia have been applied to the correction of cognitive and psychoemotional disorders, which traditionally belong to the field of neurology and psychoneurology. It is rehabilitation approaches that have proven effective in the correction of neurological syndromes.

    A technological algorithm has been created that allows any person, healthy or sick, to undergo testing for basic cognitive functions – memory, attention, speed of thinking and others, to identify anxiety, subdepression, depression, internal excitement and so on.

    The structure of the center includes a scientific department of cognitive disorders, which has access to all the advanced diagnostic and treatment capacities of the Federal Center for Brain and Neurotechnology, and they are also available to the center’s patients. This allows for not only treatment, but also educational and scientific activities. Educational programs have been developed for training specialists of multidisciplinary “cognitive” teams, transfer of the center’s methods – both on the basis of the Brain Center and in a remote format.

    Many cognitive and psycho-emotional health disorders in adulthood and old age have their roots in problems that appear in childhood. Therefore, the Center for Cognitive and Psycho-Emotional Health also accepts children, for which purpose multidisciplinary teams have been created, consisting of leading pediatric neurologists, speech therapists, physical and rehabilitation medicine doctors, and psychologists.

    In addition, the Center for Cognitive and Psycho-Emotional Health implements advanced instrumental methods on unique equipment, mainly of domestic development. In particular, this is a biofeedback complex for improving the psycho-emotional state using machine learning algorithms, devices for visual color-pulse therapy and transcranial electrical stimulation, which help reduce tension, improve sleep and increase resistance to stress.

    This year, it is planned to open 10 such centers in the Federal Medical and Biological Agency system in all federal districts. Round-the-clock telemedicine communication has been established, special educational programs have been developed for each module.

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

    MIL OSI Russia News –

  • MIL-OSI United Kingdom: Innovation@Leeds funding aims to provide launchpad for future business success

    Source: City of Leeds

    Funding has been confirmed for seven projects that will provide support to business trailblazers in Leeds and strengthen the city’s reputation as an innovation hotspot.

    Leeds City Council’s Innovation@Leeds programme recently invited grant applications from organisations that were ready, willing and able to use their expertise to turbocharge the development of a new wave of digital and tech-savvy companies.

    A total of 40 applications were received, with the seven successful bidders – chosen by the council following a competitive selection process – each receiving a grant of up to £25,000.

    They will now use the funding to run a range of knowledge-sharing events and mentoring programmes aimed at people from diverse communities and backgrounds who want to launch or further develop their own innovation-led businesses.

    This work will, it is anticipated, help the participants build the kind of skills and contacts that will prove crucial as they look to carve out their own niche in fields such as artificial intelligence or health and financial tech.

    In the longer term, it is hoped their businesses will go on to deliver cutting-edge products, processes and services that make Leeds a healthier and greener place to live.

    The grants are also designed to benefit the Leeds economy by driving inclusive growth while showcasing the city’s innovation strengths to outside investors.

    The initiatives that have been chosen to receive funding are:

    • GreenTech Gathering, four full-day workshops that will provide green technology businesses with expert insight in areas such as investor readiness and brand strategy. The sessions will be delivered with support from madeby.studio, Sustainable Ventures, Bruntwood SciTech and Optimo;
    • A programme of mentoring, workshops and public speaking opportunities – delivered by FinTech North – that will help aspiring entrepreneurs and future business leaders develop their pitching and presenting skills;
    • The Brand Lab, which will see creative design studio Buttercrumble running a series of workshops focused on how tech organisations can connect with target audiences through the use of techniques such as visual storytelling and inclusive communication;
    • Athena VC Elevate, a venture capital-focused programme – being run by Lifted Ventures – that will aim to give business founders the tools and knowledge they need to achieve rapid growth and long-term success;
    • A programme of business support – including grant-writing assistance and one-to-one mentoring – delivered by Quick Labs, a science innovation hub that provides affordable, fully-equipped laboratory space for early-stage tech start-ups;
    • Global Innovators, a project designed to help innovative businesses better understand – and realise – their international growth potential. The programme will be delivered by Creaticity, Synhrgy and Investor Ladder;
    • AI 360 Leeds, an AI Tech UK business support programme that will give start-ups, entrepreneurs and others the chance to find out more about artificial intelligence strategies and how they can be used to power growth.

    Innovation@Leeds was launched by the council in 2021 to try to ensure that opportunities in sectors such as digital are made available to all.

    The programme’s latest grants are being funded through central government’s UK Shared Prosperity Fund, which is administered locally by the West Yorkshire Combined Authority.

    The award of the grants will align with a city-wide vision – co-created by the council with key local partners – for stimulating innovation in a way that has a positive social impact.

    One aspect of that vision is the further development and transformation of the Leeds Innovation Arc, an area on the west side of the city centre that is home to globally-renowned educational, health and cultural establishments as well as an array of start-ups, scale-ups and major businesses.

    Councillor Jonathan Pryor, Leeds City Council’s deputy leader and executive member for economy, transport and sustainable development, said:

    “We are determined, as a council, to play our part in giving people from all backgrounds and communities the opportunity to make the most of their potential.

    “These Innovation@Leeds grants are a great example of how that ambition can be achieved, with the chosen projects set to offer expert insight and guidance to a diverse range of founders, entrepreneurs and thinkers.

    “Their success will be the city’s success, as a productive future for their businesses will have a positive wider impact on Leeds and its economy through the creation of jobs and other opportunities.

    “By sharing knowledge and expertise, the projects also underline how a collaborative approach to working can help our thriving innovation sector reach even greater heights.”

    ENDS

    MIL OSI United Kingdom –

  • MIL-OSI: VEEA® and VAPOR IO Announce a Strategic Partnership to Provide Turnkey AI-as-a-Service Pioneering Solutions for AI Inferencing, Federated Learning, Agentic AI and AIoT

    Source: GlobeNewswire (MIL-OSI)

    Visit us at Mobile World Congress in Barcelona, Spain, March 3-6, 2025, for demonstrations
    By appointment (marketing@veea.com) in Hall 6, Stand 6A or on M37 Yacht in Port Vell, Barcelona

    NEW YORK, Feb. 17, 2025 (GLOBE NEWSWIRE) — Veea Inc. (NASDAQ: VEEA), a pioneer in hyperconverged heterogenous Multiaccess Edge Computing (MEC) with AI-driven cybersecurity and edge solutions and Vapor IO, the leading developer of Zero Gap™ AI for zero-configuration data centers enabling comprehensive training utilizing a catalog of state of the art models, delivering ultra-low latency AI inferencing with private 5G networks across distributed edge locations, announced a partnership to offer turnkey AI-as-a-Service (AIaaS) to enterprises, municipalities and others without investing in capital-intensive edge devices, servers, networking equipment and data center facilities.

    For enterprise applications, such as Smart Manufacturing, Smart Warehouses, Smart Hospitals, Smart Schools, Smart Construction, Smart Infrastructure, and many others, Veea Edge Platform™ collects and processes the raw data at the Device Edge, where user devices, sensors and machines connect to the network, most importantly, for reasons of low-latency, data privacy and data sovereignty. VeeaWare® full stack software running on VeeaHub® devices and on third-party hardware solutions with GPUs, TPUs or NPUs, such as NVIDIA AGX Orin and Qualcomm Edge AI Box-based hardware on a Veea computing mesh, provide for the full gamut of AI inferencing with cloud-native edge applications and AI-driven cybersecurity with bespoked Agentic AI and AIoT for the specific use cases. Combined with its VeeaCloud management functions, AIoT platform and extension of network slicing through the LAN with SDN and NFV, Veea Edge Platform offers an unrivaled capability for AI inferencing for enterprise use cases at the edge.

    The core of Vapor IO’s Zero Gap AI is built around Supermicro MGX servers with the NVIDIA GH200 Grace Hopper Superchip for high-performance accelerated computing and AI applications. The Zero Gap AI makes it possible to simultaneously deliver AI inferencing and train complex models while supporting 5G private networks, including NVIDIA Aerial-based 5G private network services. Through a PoC together with Supermicro and NVIDIA in Las Vegas, Vapor IO demonstrated how Zero Gap AI customers can receive the benefits of AI inferencing for a range of use cases including by those in mobile environments with the highest level of performance and reliability that may be achieved today. For low-latency use cases, Zero Gap AI is offered as high-performance micro data centers, strategically placed in close proximity where AI inferencing is delivered. Zero Gap AI offering provides for the AI tools, libraries, SDKs, pre-trained models, frameworks and other components that may optionally be employed to develop AI apps.

    “AI represents a new class of software. Just as computing evolved from the client-server architectures to more decentralized models, for most enterprise applications AI will inevitably migrate to the edge sooner rather than later—driven by the need for data sovereignty, real-time processing, lower latency, enhanced security, and greater autonomy. The future of AI is on the edge, where intelligence meets efficiency,” stated Allen Salmasi, co-founder and CEO of Veea. “As the first PCs brought general computing to business customers first, through the partnership with Vapor IO, we intend to accomplish the same by streamlining the application of AI where data is generated at the edge. By integrating scalable computing, storage, hyperconverged networking and AI-driven cybersecurity into a unified system with a cloud-native architecture at Device Edge and VeeaCloud management capabilities together with Vapor IO we have taken much of the uncertainty and friction out of the adoption of AI at the edge.”

    The combined capabilities of Veea Edge Platform and Zero Gap AI, offer a unified, automated platform with orchestration for seamless workload distribution, which enables a new class of collaborative, distributed AI applications as an AI-in-a-Box solution:

    • VeeaCloud management of GPU clusters – Plays a crucial role in balancing performance, scalability, and efficiency for AI inferencing, while utilizing cloud orchestration for resource optimization, model updates, and intelligent workload distribution.
    • Providing On-Demand AI Compute – Eliminates the need for enterprises to invest in costly on-prem AI hardware by offering scalable, GPU-accelerated AI compute at the edge.
    • Enabling AI at Any Scale – Supports AI workloads ranging from lightweight IoT analytics to full-scale deep learning training, ensuring enterprises can adopt AI incrementally or at full scale.
    • Harnessing Agentic AI – Integrates intelligent, autonomous decision-making capabilities that enable AI systems to adapt and optimize their performance in real-time, enhancing the effectiveness of applications across various edge environments.
    • Facilitating Federated Learning – Supports collaborative model training across distributed edge devices while maintaining data privacy, allowing enterprises to leverage insights from decentralized data sources without compromising sensitive information.
    • Supporting Model Hosting & AI Inference – Allows users to deploy, manage, and scale AI models in real-time, with low-latency inference APIs available across edge locations.
    • Offering Bare Metal and Virtualized AI Instances – Users can lease dedicated AI hardware or deploy workloads in multi-tenant GPU/CPU environments, ensuring flexibility for both small and large-scale AI applications.
    • Integrating Edge Storage & AI Data Management – Includes NVMe-based high-speed caching for inference and object storage for large-scale AI datasets, reducing reliance on cloud-based data transfers.
    • Ensuring Seamless Connectivity Options – A range of ultra-low latency connectivity options to optimize AI data transfer between on-prem devices and Edge-to-Edge compute.
    • Reducing AI Deployment Complexity – Automates AI workload orchestration, allowing businesses to expand, migrate, or failover AI models across distributed edge nodes without manual reconfiguration.
    • Accelerating Time-to-Value for AI Deployments – Provides a pre-integrated solution that reduces AI setup time from months to minutes, allowing enterprises to launch AI-powered solutions with minimal friction and on-going maintenance.

    “According to Gartner, 85% of all AI models/projects fail because of poor data quality or little to no relevant data. We have largely addressed this industry pain point most cost-effectively with much reduced complexity and little risk of disappointment through our Edge-to-Edge partnership with Veea,” explained Cole Crawford, Vapor IO’s founder and CEO. “With our substantial ecosystem of major partners and developers, we are well positioned to offer one of the most competitive turnkey real-time AI inferencing capabilities in the market with federated learning, Agentic AI and AIoT to public and private enterprises.”

    About Veea

    Veea Inc. (NASDAQ: VEEA) was formed in 2014 and is headquartered in New York City with a rich history of major innovations in the development of advanced networking, wireless and computing technologies. Veea® has unified computing, communications, edge storage and cybersecurity solutions through fully integrated cloud- and edge-managed products. Veea’s pioneering Multiaccess Edge Computing (MEC) product, developed from the ground up in several compact form factors, brings together the functionality typically provided for through any combination of servers, Network Attached Storage (NAS) devices, routers, firewalls, Wi-Fi APs, IoT gateways, 4G or 5G wireless access, and Cloud Computing by means of multiple hardware, software and systems integrated and maintained by IT/OT professionals.

    Veea Edge Platform™ is a cloud-managed full-stack platform designed to manage multi-vendor heterogeneous devices with a Linux server hosting VeeaWare stack to enable compute capabilities with any combination of GPUs, TPUs, and NPUs on a networking and computing mesh. VeeaHub products are hyperconverged, multi-access and multi-protocol devices that provide for control plane management of heterogeneous devices on any vMesh cluster. This leading-edge solution enables network slicing for seamless connectivity across diverse network environments with Network Function Virtualization (NFV) and advanced Software Defined Networking (SDN) with fixed-line and/or wireless WAN connection, including 5G. AI-driven cybersecurity and Zero Trust Network Access (ZTNA) provide for a highly simplified Secure Access Service Edge (SASE). Its integrated compute and storage support a virtualized software environment enabling cloud-native applications to run in Secured Docker™ containers. Veea Edge Platform provides for end-to-end cloud management of devices, applications and services. Veea Developer Portal and development tools provide for rapid development of edge applications. The combined capabilities with AI-driven intelligence enables unparalleled scalability, security, and operational efficiency for enterprises, IoT ecosystems, and next-gen AI applications.

    Veea has been recognized in 2021 and 2023 by Gartner for the innovativeness and capabilities of its Edge Computing platform. Veea was named a top 10 Edge AI solution provider alongside IBM, Microsoft, AWS and others in Market Reports in its research report published in October 2023. For more information, visit veea.com and follow us on LinkedIn.

    About Vapor IO
    Vapor IO stands at the forefront of the AI revolution, delivering ultra-fast and ultra-low latency solutions on- premises and across distributed edge locations with AI and private 5G networks. The company’s Zero Gap™ AI platform uniquely delivers on-demand GPUs and AI services directly to the locations where it’s needed and through Network-Delivered AI services in 36 key U.S. markets, including cities like Dallas, Las Vegas, and Seattle. Zero Gap AI uses Vapor IO’s Kinetic Grid® infrastructure, Supermicro’s AI-optimized servers, and NVIDIA’s groundbreaking AI silicon, including NVIDIA Aerial 5G private networks, to offer on-demand AI services in top U.S. markets.

    Zero Gap AI is a uniquely cost-effective way for enterprises, municipalities, and cloud providers to implement or expand their AI capabilities without investing in capital-intensive servers, networking equipment and data center facilities. Multiple AI access points in each market can be configured as availability zones, allowing for nearly unlimited degrees of resilience and continuous operating without interruption. Uniquely packaged with spectrum, highly optimized NVIDIA Aerial 5G private network services extend Zero Gap AI services to wherever they’re needed in many markets. Vapor IO’s extensive partner ecosystem can deliver specialized AI solutions built around the Zero Gap platform. From Smart City to Smart Retail, network of partners has the industry know how to build best-in-class solutions. Discover the difference Vapor IO can make with Network-Delivered AI solutions that fit your specific needs. Visit www.zerogap.ai to learn more.

    Zero Gap, Vapor, Kinetic Edge, Kinetic Grid, and Kinetic Edge Exchange are registered trademarks or trademarks of Vapor IO, Inc.

    Forward-Looking Statements
    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”) as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “would,” “could,” “seek,” “intend,” “plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy,” “future,” “likely” or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company’s strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: the Company’s business strategies, and the risk and uncertainties described in “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Cautionary Note on Forward-Looking Statements” and the additional risk described in Veea’s Form 10-Q for the fiscal quarter ended September 30, 2024 and any subsequent filings which Veea makes with the U.S. Securities and Exchange Commission. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in the press release relate only to events or information as of the date on which the statements are made in the press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

    The Equity Group

    Devin Sullivan
    Managing Director
    dsullivan@equityny.com

    Conor Rodriguez
    Associate
    crodriguez@equityny.com

    The MIL Network –

  • MIL-OSI China: China unveils measures to bolster new-type energy storage manufacturing

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

    BEIJING, Feb. 17 — Chinese authorities unveiled several measures on Monday to promote the new-type energy storage manufacturing sector, as part of efforts to accelerate the development of emerging industries and the country’s modern industrial system.

    According to an action plan jointly issued by the Ministry of Industry and Information Technology and seven other government organs, the new-type energy storage manufacturing industry refers to the sector that produces energy storage, information processing, safety control, and other products related to new energy storage methods.

    By 2027, the sector is expected to demonstrate international competitive advantages across the entire manufacturing chain, with a greater number of leading enterprises, marked improvements in industrial innovation capabilities, and overall competitiveness while also achieving advancements in high-end, intelligent, and green development, according to the plan.

    According to the document, China will launch initiatives to boost technology innovation in the new-type energy storage sector. These initiatives will include measures to speed up the upgrading of mature technologies such as lithium batteries and support disruptive technological innovations.

    The country will also promote coordinated industrial development. Efforts should be made to strengthen the monitoring and early warning of lithium battery production capacity, prevent reckless investment, and guard against the risk of disorderly development.

    The document underlined the importance of supporting upstream and downstream enterprises in the new-type energy storage manufacturing sector to optimize their energy consumption structure, improve energy utilization efficiency, and expand the proportion of renewable energy in the manufacturing process.

    Efforts will be made to promote the application of new-generation information technologies such as blockchain, big data, artificial intelligence, and 5G in the new-type energy storage manufacturing sector, according to the document.

    To beef up international cooperation in the new-type energy storage sector, China will work to incorporate collaboration in the field into international cooperation mechanisms and frameworks such as the Belt and Road Initiative and BRICS and promote mutually beneficial cooperation on industrial and supply chains.

    MIL OSI China News –

  • MIL-OSI: ACET (ACT) Secures MOU with Saif Belhasa Holding, Paving the Way for Blockchain-Powered Finance in the UAE

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 17, 2025 (GLOBE NEWSWIRE) — ACET (ACT), a global blockchain-driven digital asset, has signed a landmark Memorandum of Understanding (MOU) with Saif Belhasa Holding (SBH), one of the most influential business conglomerates in the Middle East and UAE. This collaboration is set to revolutionize the region’s digital economy, integrating ACET (ACT) into financial transactions across various industries within the SBH ecosystem.

    Since Donald Trump became President with pro-crypto policies, ACET (ACT) has witnessed a remarkable price surge of over 100%, reflecting heightened market confidence and increased adoption of blockchain-based financial solutions.

    A Strategic Partnership with Multi-Billion-Dollar Impact

    The agreement, signed on February 13, 2025, marks a significant milestone for both ACET (ACT) and SBH. Led by Dr. Saif Ahmad Belhasa, SBH manages a diverse business empire spanning real estate, construction, automotive, retail, education, and finance, with a corporate valuation exceeding $5 billion USD.

    This partnership is structured around a three-year roadmap to integrate ACET (ACT) as a key financial instrument within SBH’s operations, focusing on:

    • Real Estate – ACET (ACT) will facilitate luxury real estate transactions, with plans to implement NFT-based Property Tokenization for fractional ownership.
    • Automotive – Customers will be able to purchase and lease luxury vehicles from SBH dealerships using ACET (ACT), along with crypto-backed financing options.
    • Retail & Hospitality – ACET (ACT) will be accepted in malls, restaurants, hotels, and other SBH-affiliated businesses, offering exclusive VIP perks and discounts for token holders.
    • Financial Services – The partnership will introduce blockchain-powered financial products, including staking, lending, and investment funds tailored for institutional investors and family offices.
    • Smart Contracts & AI Integration – ACET (ACT) will be embedded into SBH’s financial infrastructure, enabling automated transactions, asset transfers, and AI-enhanced business solutions.
    • Institutional Expansion & Government Collaboration – The initiative aims to align with UAE’s financial regulations, securing recognition from Dubai’s Virtual Asset Regulatory Authority (VARA) and Abu Dhabi Global Market (ADGM).

    Crypto Market Reacts: ACET (ACT) Gains Momentum

    Following the MOU announcement, crypto investors and influencers across the world have hailed this deal as a game-changer for real-world-asset (RWA) crypto adoption. The market response has been overwhelmingly bullish, fueling a viral hashtags like #iHoldACT, #ACTxSBH, #ACTRWA and #ACT100X dominating discussions.

    Industry Leaders on the Partnership

    Acme Worawat, founder of ACT (ACET) and one of Asia’s largest Bitcoin holders, emphasized:

            “This partnership transforms ACET (ACT) into a fundamental component of the UAE’s digital economy. With SBH’s global presence, ACET (ACT) is poised for exponential growth beyond the Middle East, driving mainstream crypto adoption worldwide.”

    Dr. Saif Ahmad Belhasa, Chairman of SBH, added:

            “This MOU marks SBH’s bold step into blockchain finance, positioning us as a leader in digital payments. ACET (ACT) will be officially integrated into our financial ecosystem, making crypto a mainstream financial tool in the UAE and beyond.”

    About ACET (ACT) & SBH

    ACET (ACT) was founded in 2021 by Acme Worawat, a veteran crypto investor with over 13 years of experience. With a current trading volume of $412million (Approximately 14Billion THB) and over 156,000 holders worldwide, ACET (ACT) is rapidly emerging as a top-tier digital asset.

    Saif Belhasa Holding (SBH), established in 2001, is one of the most powerful business groups in the UAE, with a vast portfolio spanning 50+ subsidiaries and over 10,000 employees across various industries.

    With this partnership, ACET (ACT) is set to become one of the most widely adopted cryptocurrencies in institutional finance and real-world commerce. The bull run is on!

    Social Links:

    X: https://x.com/ACTDeFansFi

    Telegram: https://t.me/ACTAcet

    Media contact:
    Brand: ACET
    Contact: Corporate Communication Division
    Email: media@acet.finance
    Website: https://acet.finance/

    Disclaimer: This content is provided by Acet Finance. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/62035c52-66f6-48e1-903e-015fa27ee8db

    The MIL Network –

  • MIL-OSI: naturalX secures €100 Million to fuel the future of Consumer Health in Europe

    Source: GlobeNewswire (MIL-OSI)

    Berlin, Feb. 17, 2025 (GLOBE NEWSWIRE) — Healthcare is undergoing a fundamental transformation, shifting from reactive sick care to proactive health management, with consumers firmly in the driver’s seat. While the U.S. market has seen the rise of consumer-centric healthcare champions like Hims/Hers, Headspace, and Function Health, Europe’s market remains underserved. Today, naturalX Health Ventures announced a €100 million fund to accelerate this revolution in Europe, becoming the first specialized fund focused exclusively on the intersection of consumer and health in the European market.

    The fund will focus primarily on Series-A investments while remaining flexible to participate in late Seed and Series-B rounds. Typical first investments range from €3-5 million, with up to €10 million available per company. naturalX can act as either lead investor or co-investor, targeting consumer health startups across Europe with selected investments in North America.

    naturalX Health Ventures founder Marvin Amberg (CREDIT: Yves Callewaert)

    naturalX was founded by Marvin Amberg, a German serial entrepreneur with experience launching consumer and health startups, in cooperation with Schwabe Group, a global leader in plant-based pharmaceuticals. The fund defines consumer health as the intersection of wellness and medicine, where science-backed products and services put the consumer in focus. During its 18-month ramp-up phase, naturalX has already made several investments, including mybacs, Flow Neuroscience, Kyan Health, and Meela, while also investing in healthcare-focused VC funds to build a strong ecosystem around their thesis.

    “I am very excited to double down on our thesis with the official launch of naturalX. The consumer health space has been overlooked by investors. We see an inflection point in Europe now, as consumers are finally taking more charge of their own health. Startups in the space need a partner with a shared vision,” said Marvin Amberg, founder of naturalX Health Ventures.

    The fund’s launch comes at a pivotal moment in consumer health. The COVID-19 pandemic has accelerated consumers focus on proactive health management, while rising health literacy – driven by mega-influencers like Andrew Huberman, Peter Attia and Bryan Johnson – has created more informed healthcare consumers who see health as a status symbol. Easier access to data through technology, including AI, is further driving the shift toward consumer-centric healthcare.

    naturalX targets solutions across proactive health, including sleep, gut health, prevention, and longevity. The fund also places special emphasis on mental health, recognizing the growing need for consumer-centric therapeutic solutions in this underserved area. The investment strategy bridges Schwabe Group’s deep pharmaceutical expertise with modern digital health innovation.

    “We analysed the U.S. health market and in many successful startups, the consumer is already at the centre. Our thesis is that this is just the beginning, and the European market will develop in a similar pattern. While we start to see some examples of consumer-focused healthcare companies in Europe reaching meaningful scale and significant funding, such as Oura or Neko Health, we think this market deserves more attention,” added Marvin Amberg.

    “naturalX led our Series-A round and has been an exceptional partner, bringing not only capital but also invaluable knowledge of the nutritional supplement and broader consumer health market. Their pragmatic, fast decision-making allows us to focus on growing our business,” said Carl-Philipp von Polheim, Founder of mybacs, a leading DTC probiotic subscription startup.

    “At Kyan Health, we are dedicated to proactive mental health management—empowering individuals before issues escalate. naturalX shares this vision, recognizing that prevention is key to lasting impact. Their deep expertise and strategic approach make them an ideal partner in driving meaningful change for millions,” said Vlad Gheorghiu, Founder of Kyan Health, a leading mental health platform for employees.

    Following the recent closing, the fund is now fully operational and actively building its cross-European investment team.

    Ends

    Media images can be found here. 

    About naturalX Health Ventures
    naturalX Health Ventures is a €100 million venture capital fund focused on Consumer Health startups that are reshaping the future of healthcare. The fund invests mainly across Europe at Series-A stage while also looking at late Seed and Series-B opportunities. naturalX is backed by Schwabe Group, a global leader in plant-based pharmaceuticals.

    The MIL Network –

  • MIL-OSI: Sustain SoCal to Host Second Annual Sustainable Communities: Solutions in Resiliency Conference

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., Feb. 17, 2025 (GLOBE NEWSWIRE) — via InvestorWire — Sustain Southern California (“Sustain SoCal”) is proud to host the Sustainable Communities: Solutions in Resiliency conference to be held on Thursday, February 20, 2025. The in-person event will take place at The Cove at UCI Beall Applied Innovation, located at 5270 California Ave., Irvine, CA 92617.

    Following its successful launch in 2024, we are pleased to organize the second edition of this event, addressing housing-related concerns, including critical issues such as climate readiness and availability, resilience in the face of environmental disruptions, the changing landscape of insurance, fire safety, and local self-resiliency.

    Given recent fire emergencies in states such as California’s unchecked urbanization, water quality risk as a result of burn zone runoff, and instability in our energy grid, the demand for such a forum has never been greater. This one-of-a-kind conference is where innovation meets sustainability. Among the promising advancements driving the transformation of communities is the integration of digital twin technologies, helping usher in an era of eco-conscious urban development.

    This event will unite industry veterans, renowned pioneers, thought leaders, and policy influencers from Southern California and surrounding regions. Invaluable perspectives and practical insights will be explored, fostering dialogue and collaboration to drive the transformation of communities into vibrant, resilient, and sustainable hubs.

    The conference agenda will include dynamic, insights-rich sessions such as:

    • Housing: How Climate Readiness & Availability Intersect
    • How Beneficial Fire Will Mitigate the Wildfire Crisis: An Environmental Liability Solution
    • Water Management as Key to Disaster Preparedness & Cleanup
    • Wildfire Resilience: How Smart Buildings Safeguard Critical Infrastructure
    • Microgrids & Mobile Energy Units as Emergency Resources

    The event will also feature the Innovator Showcase, a special exhibition where attendees can interact with cutting-edge innovations to help achieve responsible, sustainable urban and suburban living.

    The conference also provides attendees with a unique opportunity to engage directly with key experts, industry peers, enthusiastic researchers, and students.

    C. Scott Kitcher, President and CEO of Sustain SoCal, reiterated the significance of this event: “What began as an event to lay the foundation for Sustain SoCal’s extensive 2025 program has quickly transformed into a complex discussion about climate resilience and emergency preparedness in light of the recent LA fires. This event will examine a multitude of lessons learned when it comes to housing development, the changing landscape of insurance, water quality, the research needed in regards to ecological buffer zones, microgrid applications in times of evacuation and emergency response, and much more. Conversations kicked off during Sustainable Communities: Solutions in Resiliency will be continued throughout the upcoming year in our Communities Working Group, offered to Sustain SoCal Members.”

    For more information and registration details, visit: https://sustainsocal.org/event/sustainable-communities/

    About Sustain SoCal
    Sustain SoCal, a non-profit organization, accelerates sustainability and economic growth through innovation, collaboration and education in Southern California. The organization has a ten-year history in exploring and implementing pragmatic, real-world solutions to the challenges created by growth, change and inefficiency. It conducts conferences, workshops and networking events that lead to initiatives that positively impact our region’s economic progress and sustainability. For more information, please visit www.sustainsocal.org.

    About IBN

    IBN is a cutting-edge communications and digital engagement platform providing tailored Platform Solutions for select private and public companies. Over the course of 18+ years, IBN has introduced over 65+ investor facing brands to the investment public and amassed a collective audience of millions of social media followers. These distinctive investor brands amplify recognition and reach as well as help fulfill the unique needs of our rapidly growing and diverse base of client-partners. IBN will continue to expand our branded network of influential properties as well as leverage the energy and experience of our team of professionals to best serve our clients.

    IBN’s Platform Solutions provide access to: (1) our Dynamic Brand Portfolio (DBP) through 65+ investor facing brands; (2) article and editorial syndication to 5,000+ news outlets; (3) full-scale distribution to a growing social media audience; (4) a network of wire solutions via InvestorWire to effectively reach target markets and demographics; (5) Press Release Enhancement to ensure accuracy and impact; (6) a full array of corporate communications solutions; and (7) total news coverage solutions.

    For more information, please visit https://www.InvestorBrandNetwork.com

    Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://IBN.fm/Disclaimer

    Corporate Communications

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    The MIL Network –

  • MIL-OSI Economics: Christodoulos Patsalides: The Central Bank of Cyprus agenda – strategic vision and priorities

    Source: Bank for International Settlements

    Introduction – Strategic Vision Statement and Elaboration

    Distinguished guests, esteemed colleagues,

    I would like to extend my sincere thanks to the organizers of the 12th Banking Forum and Fintech Expo for bringing us together for this important exchange of ideas and insights.

    It is my privilege to have today the opportunity to present the strategic vision and priorities of the Central Bank of Cyprus. In an ever-evolving global and digital economy, we are committed to leading the way in fostering a resilient, innovative, and sustainable financial sector for Cyprus. Our agenda focuses on embracing digital transformation, ensuring robust governance, addressing societal and environmental challenges, and safeguarding financial stability.

    Today, I will outline our key priorities, including advancements in the digital economy, the evolving role of digital payments, the potential introduction of a digital euro, and the regulatory frameworks that ensure responsible governance and societal considerations in our financial systems. Through these efforts, we aim to strengthen Cyprus’ position as a dynamic player within the European financial landscape.

    Cyprus Economy

    To ground our strategic vision, we must first examine the economic landscape in which the Cyprus economy operates. With its key sectors-ICT (Information Communication Technology), tourism, trade, shipping, and construction-, the economy has demonstrated resilience and adaptability despite the consecutive significant geopolitical challenges, including the ongoing conflicts in Ukraine and the Middle East. In recent years, Cyprus has achieved robust growth rate well above the EU average and maintained a strong fiscal position, consistently posting surpluses that have bolstered public finances. As a result, international rating agencies have upgraded their ratings well within the investment grade, highlighting our sound economic management, fiscal discipline, and reforms in the banking sector.

    Banking Sector in Cyprus

    Building on the strength of our economy is the Cypriot banking sector, which has built up remarkable resilience and robustness despite a series of unprecedented and successive crises in recent years. The sector’s solvency, as indicated by the Common Equity Tier 1 (CET1) ratio, rose to 23,5% in the third quarter of 2024, achieving its highest level on record and significantly surpassing the European average of 16,0%. Additionally, the Liquidity Coverage Ratio (LCR)-a key indicator of credit institutions’ capacity to withstand severe liquidity stress-reached 336% in September 2024. This level exceeds the regulatory minimum of 100% by more than threefold and stands well above the European average of 161,4%. The non-performing loan (NPL) ratio fell to 6,5% in the third quarter of 2024, marking its lowest level since 2014, when the NPL definition was standardized across the European Union.

    However, there is no room for complacency as macroeconomic uncertainty, geopolitical risks, and emerging threats like cyber and climate risks grow. Banks must adapt quickly to identify and address these evolving challenges effectively. Moreover, technological advancements bring about a new landscape in which banks are called upon to compete. The pursuit of an appropriate business model is key.

    Digital Economy and Global Digital Trends

    As we look toward the future, the digital economy emerges as a defining feature of global trends. Technology has the ability to sustain and improve our standards of living and the long-term productivity of our economy. Examples of innovative technologies used in financial services (usually referred to as FinTech) include artificial intelligence, cloud computing, digital wallets, big data analytics and biometrics. These technologies have been applied to improve customer service, automate payments, reengineer business processes, detect suspicious activity, and assist with customer profiling and digital onboarding. However, we are yet to see the realization of potential in other promising new technologies such as distributed ledger technology (DLT), smart contracts and tokenization.

    As technology becomes more widespread in our evolving digital economy, cyber risk and data security continue to be by far the most prominent driver of operational risk for banks. Technological advances with increased sophistication, growing reliance on digital solutions, but also growing capabilities of cyber offenders, have all resulted in enhanced risk exposure for banks, including vulnerability to sophisticated cyber-attacks. Cyber risk is often driven by geopolitical risk, thus raising overall risk to a much higher level. Supervising these risks remains one of our priorities.

    To take full advantage of the potential of innovative technologies responsibly while managing risks, common supervisory and regulatory approaches are essential. The EU has introduced key legislation such as DORA, PSD3, FiDA, MiCAR, and the AI Act, which aim to strengthen financial sector resilience and boost consumer and investor confidence by guiding responsible innovation. Recognizing the evolving market dynamics, the Central Bank of Cyprus has established an Innovation Hub to foster dialogue with fintech stakeholders and support domestic financial innovation.

    Digital Payments in Cyprus

    A key element of the digital economy is the rapid rise of digital payments. We find ourselves in an era where digital transformation is reshaping economies, and Cyprus is no exception. One of the most prominent trends is the proliferation of digital payments, which now capture around 96% of cashless payments. At the same time, preference for cash payments is shrinking, as evidenced by a remarkable decline of 11% since 2022 that placed Cyprus at the top of euro area countries. Cypriots use cards 1,3 times more frequently than their European peers, while our contactless card payments capture more than half of all card payments consistently since 2022. This reflects the readiness of local businesses to accept cards and to opt for terminals that embed Near-Field-Technology. 

    In the same vein, e-commerce exhibits gradual expansion, manifested by online purchases via cards almost doubling over a six-year period to 28% of the total of card payments. It is indeed remarkable that the use of mobile phones for online purchases has almost reached one quarter of the total, outperforming the EU average which stands at 16%.

    As of the 9th of January of this year, instant payments have become a reality for all banking participants. This signifies that account-to-account payments can be effected at the speed that people demand in the digital and social media age: transmission within 10 seconds, with immediate access to funds on a 24/7/365 basis, as opposed to the current 1-2 days waiting time. Consumers and businesses will reap the benefits in the months to come. 

    Electronic Money Institutions & Payments Institutions

    E-money payments are gaining traction, driven by opportunities in fintech, e-commerce, and digital payments. Having licensed 4 electronic money institutions this year, the Central Bank of Cyprus now supervises 27 electronic money institutions and 11 payment institutions. 

    As part of our broader strategic agenda, we are committed to drawing on international experience in supporting the Central Bank of Cyprus in refining its approach for regulating, licencing and supervising Electronic Money Institutions (EMIs) and Payment Institutions (PIs) in Cyprus.

    In December, the CBC, announced the establishment of a comprehensive licensing and supervisory strategy for the sector of these institutions.

    For the development of this strategy, the CBC appointed an international consultancy firm whose experts, in collaboration with CBC staff, conducted an analysis of the sector and its inherent risks.

    The objective of the new strategy is to pursue the prudent and sustainable growth of the sector. Among other measures, the strategy includes:

    • The enhancing and enriching of the licensing processes for institutions applying to participate in the sector.
    • The Strengthening of the supervision of institutions by implementing a risk-based supervisory approach for each institution and enriching supervisory tools. 
    • And the adoption of best practices for the operation of the sector.

    To achieve these objectives, a Division for the Supervision of Electronic Money and Payment Institutions is being established, which will henceforth undertake the prudential supervision of the sector.

    Digital Euro

    Moving on to the digital euro, I will give a brief status update from last year’s forum. As legislative negotiations continue in Brussels, the Eurosystem is progressing through the first part of the preparation phase for the digital euro, focusing on calibrating the holding limits without compromising financial stability or bank intermediation as the banks will retain their role vis-à-vis their customers. The ECB continues to rapport with the market, with specific holding entitlements to be defined later. The rulebook formulation, developed with stakeholder input, will set standards for future digital euro distributors, leveraging existing frameworks for cost efficiency and allowing flexibility for innovation. Consumers and businesses prioritize functionalities like conditional payments and effortless bill-splitting, guiding expectations for future services.

    Moving on to the platform and infrastructure preparations, the ECB is now selecting candidates from its recent application process and plans to enhance engagement with distributors to ensure readiness for the potential issuance and successful distribution of the digital euro, if and when the decision to issue is made.

    Allow me to take a moment to refer to our efforts at raising awareness within our market through various communication channels, targeting the general public, the business community, and financial institutions. Aside from articles that we regularly publish in the press and on professional social networking platforms, we invite various stakeholder groups to the CBC premises. Last July we gave a press conference with Mr Piero Cipollone, member of the Executive Board of the European Central Bank, as keynote speaker. In November we held a focus session with business associations and their members, and in December we presented a thorough status update of the project to the members of our National Payments Committee. Last but not least, the Central Bank of Cyprus participates in panel discussions and presents the digital euro project at various local and international conferences.

    ESG Regulatory Landscape: Governance, Society, and Climate Change

    A. Governance

    As we embrace these innovations, we remain steadfast in our commitment to strong governance. Governance, a core pillar of ESG, is crucial in enhancing transparency, accountability, and ethical standards in financial institutions. Strong governance enables sound lending decisions, reduces conflicts of interest, and ensures compliance with regulations including the updated Directive on Corporate Sustainability and ESG provisions in the recently enacted CRD 6, protecting institutional reputation and minimizing financial risks.

    B. Encompassing Society Considerations in Business Activity: Financial Conduct

    Social factors, including diversity, labour practices, community engagement, and adherence to human rights standards, are also vital for modern credit institutions. Embedding diversity in governance and fair pricing in operations fosters trust among stakeholders, promotes financial inclusion, and enhances institutional resilience, strengthening reputation and market standing.

    C. Climate Change – CBC Initiatives

    The Central Bank of Cyprus actively engages in thematic reviews, stress tests, and in-depth analyses led by the European Central Bank to assess institutions’ preparedness on climate risk and its integration into their strategy, governance, risk management and disclosures. This supervision helps ensure credit institutions speed up their preparations to manage ESG risks while meeting necessary sustainability and resilience standards. Additionally, the smaller institutions, directly supervised by us, were requested to develop implementation plans, with specific milestones, in order to advance the management of climate related risks, in line with the ECB’s 13 supervisory expectations which stipulate how banks should integrate climate and environment risks into their business models and strategies, governance and risk appetite.

    Beyond what is expected from the supervised institutions, the Central Bank of Cyprus has set up internally a Sustainability Team, aiming to support the CBC in addressing climate change in line with its mandate to maintain price stability, safeguard financial stability, supervise banks and support the general economic policy of the State, while also contributing to the target of net zero carbon emissions, and the continuation of strong governance. The recent visit of Mr Frank Elderson, member of the ECB’s Executive Board and Co-Chair of the Task Force on Climate-related Financial Risks of the Basel Committee on Banking Supervision touched upon these issues as well.

    Concluding remarks

    Let me now conclude: the strategic vision of the Central Bank of Cyprus is built on the pursuit of price stability and financial stability in its capacity as the macroprudential authority of the country. By embracing the digital economy, ensuring robust governance, and addressing climate change, we are positioning Cyprus as a forward-looking financial hub in Europe. Together, we will navigate the challenges and opportunities of the future, ensuring stability and prosperity for all.

    MIL OSI Economics –

  • MIL-OSI Economics: Christodoulos Patsalides: Cyprus and the euro area – navigating growth, stability, and opportunities

    Source: Bank for International Settlements

    I would like to thank the Cyprus Shipping Chamber for giving me the opportunity to address this meeting today and discuss key economic developments. My remarks will begin with an overview of Cyprus’ economic performance. I will then discuss the notable progress achieved in the banking sector and underscore the critical role of the shipping industry in driving export revenues. Following this, I will turn to the broader economic outlook for the Euro Area, concluding with insights into the European Central Bank’s latest monetary policy decision on achieving price stability.

    Domestic economic outlook

    The Cypriot economy continues to exhibit robust growth, despite facing persistent external challenges in a turbulent and uncertain global environment. Geopolitical risks, such as the ongoing war in Ukraine, conflicts in the Middle East, and rising international tensions, have elevated economic uncertainty.

    Amidst these conditions, the Cypriot economy has consistently demonstrated remarkable resilience and flexibility. This is clearly reflected in its recent upgrades by credit rating agencies to the “A” category, further cementing its reputation in international financial markets. These upgrades underscore the growing confidence in Cyprus’s fiscal policies and the solid outlook for its economic and banking systems.

    Improved fiscal performance has been a cornerstone of these positive developments. Public debt has been reduced significantly, declining from 114% of GDP in 2020 to 74% in 2023, highlighting disciplined financial management. Projections from the Ministry of Finance indicate that this downward trajectory will continue, with public debt expected to fall below 50% of GDP by 2028. This progress strengthens fiscal sustainability and enhances the country’s ability to respond to future challenges, reflecting a strong commitment to long-term economic stability.

    According to the December 2024 projections of the Central Bank of Cyprus (CBC), economic growth for 2024 is expected to reach 3.7%, significantly higher than the projected Eurozone average of 0.7%. The expansion of productive sectors such as technology, trade, tourism, financial and professional services, shipping, and construction-particularly large private sector infrastructure projects-has been a key driver of growth.

    For the period 2025-2027, GDP is expected to grow by approximately 3% annually, driven primarily by a projected increase in domestic demand and, to a lesser extent, external demand. Domestic demand is expected to be supported by a rise in private consumption due to the increase in real disposable household income and the continued resilience of the labour market. Additionally, domestic demand will benefit from ongoing large-scale private non-residential investments, infrastructure projects aimed at supporting digital and green development, and other reform projects under the Recovery and Resilience Plan.

    Regarding the shipping sector in particular, our small island has a maritime history spanning hundreds of years, and it is rightly is considered as one of the main pillars of the Cypriot economy. The country’s maritime industry considerably contributes directly and indirectly to the country’s GDP. Based on 2023 data, the shipping sector ranks third with a share of 17.2% to the total value of exports of services, after the Information and Communication Technology sector, the financial services and the tourism sectors, with shares of 30.2%, 20.3% and 11,5% respectively. In view of the aforementioned figures, it is evident that the sector managed to stay focused and strong despite the unprecedented challenges faced in the last few years, namely the covid pandemic, the wars in Ukraine and Gaza as well as the tensions in the Red Sea. 

    The strength of the labour market further reinforces this positive narrative. Unemployment has declined to 5% in the first nine months of 2024, compared to 5.8% in 2023. It is projected to remain at 5% for the full year and to fall further to 4.6% by 2027, approaching levels indicative of full employment. These figures compare favourably to the euro area, where unemployment is forecast to stabilize at 6.1% by 2027.

    On the prices front, inflationary pressures have eased significantly, with inflation dropping to 2.2% in the first eleven months of 2024, compared to 4.1% in the same period of 2023. According to the CBC’s December 2024 projections, inflation is expected to stabilize near the 2% medium-term target, reaching 1.9% in 2025, 2.1% in 2026, and 2.0% in 2027.

    The Cyprus banking sector

    The Cyprus banking sector has demonstrated tangible progress and resilience, with key financial metrics reflecting a strong and sound performance. A primary indicator of this strength is the solid improvement in terms of solvency, with the Common Equity Tier 1 (CET1) ratio increasing from 21.5% in December 2023 to 23.5% in September 2024. This increase marks the highest CET1 ratio in the Union, surpassing the EU average of 16.0%.

    Despite the challenges posed by consecutive crises, no tangible signs of credit quality deterioration are observed up to this point. In fact, the Non-Performing Loans (NPL) ratio has continued its positive downward trend. As of September 2024, the NPL ratio stands at 6.5%, a marked improvement from 7.9% in December 2023. This reduction reflects the sector’s ongoing commitment to addressing legacy issues, bolstering the financial health of the asset side of its balance sheet, and reinforcing its capacity to support economic recovery. Yet, there is still some way to go, particularly considering that the average NPL ratio of the EU sector stands as of September 2024 at 1.9%. Furthermore, the improvement within the Cyprus banking sector has not been homogeneous across all institutions, with certain banks lagging behind. These institutions must therefore accelerate their efforts to align with the sector-wide advancements.

    Profitability metrics have been robust, with the Return on Equity (RoE) reaching 23.2% in September 2024 as opposed of 11,1% of the EU average. Operational efficiency has improved as the cost-to-income ratio declined to 35.5%, a notable reduction from previous years and lower than the EU average of 53%.

    Cyprus banks also exhibit some of the highest liquidity standings in the EU, reinforcing their ability to meet potential liquidity demands. The Liquidity Coverage Ratio (LCR), a measure of a bank’s ability to withstand large liquidity outflows under a stressed period, stands as of September 2024 at 336%, compared to the EU average of 161% and minimum requirement of 100%. Furthermore, the Net Stable Funding Ratio (NSFR), which assesses the stability of a bank’s funding base, stands also high at 187%, surpassing both the EU average of 127% and the minimum regulatory requirement of 100%. The Cypriot banking sector is thus well-positioned to face potential market disruptions and continue driving economic stability.

    Through the first 11 months of 2024, Cypriot banks granted €3.3 billion in new loans to households and non-financial corporations (NFCs), surpassing the already high €2.9 billion provided during the same period in 2023. A negative side effect of a strongly liquid banking sector in a small country is the slow adjustment of interest rates in response to ECB monetary policy actions. Banks must exhibit responsible pricing policies in the face of reputation risk and the need to support the competitiveness of the economy.

    Looking to the future, the banking sector faces challenges such as adapting to AI, mitigating cyber risks, addressing geopolitical uncertainties, and transitioning to a greener economy. Tackling these priorities is essential for sustaining the sector’s positive trajectory and remains central to our supervisory agenda.

    Economic Developments in the Euro Area

    The risks to economic growth continue to lean towards the downside. Increased disruptions in global trade may hinder euro area growth by suppressing exports and slowing the global economy. Additionally, reduced confidence could delay the recovery of consumption and investment beyond current expectations. The ECB’s December projections estimate economic growth of 0.7% in 2024, 1.1% in 2025, 1.4% in 2026, and 1.3% in 2027. This recovery is expected to be driven primarily by rising real incomes, which should enable households to boost consumption, alongside increased investment by firms.

    On the price front, euro area inflation rose to 2.4%, in December 2024, up from 2.2% in November, primarily driven by increased energy costs but this was expected due to energy-related upward base effects.

    Despite the upticks in recent months, the disinflation process is well on track. ECB Staff see headline inflation averaging 2.4 per cent in 2024, 2.1 per cent in 2025, 1.9 per cent in 2026 and 2.1 per cent in 2027 when the expanded EU Emissions Trading System becomes operational. Services inflation continues to be sticky at around 4%, largely stemming from the delayed catch-up adjustment of certain services prices to past inflation surges and ongoing wage pressures. At the same time, recent signals point to continued moderation in wage pressures and to the buffering role of profits.

    Inflation is expected to fluctuate around its current level in the near term. It should then settle sustainably at around the two per cent medium-term target. Easing labour cost pressures and the continuing impact of past monetary policy tightening on consumer prices should help this process. Most measures of longer-term inflation expectations continue to stand at around 2 per cent.

    ECB Monetary Policy

    Based on our updated assessment of the inflation outlook, underlying inflation dynamics, and the effectiveness of monetary policy transmission, we decided at our January Governing Council meeting to further reduce the three key ECB interest rates by 25 basis points. This adjustment brought the deposit facility rate-the primary tool for steering our monetary policy stance-to 2.75%

    Overall, the euro area’s economic environment remains intricate, with the risks to economic growth tilted to the downside and with both upside and downside risks to inflation present. The ECB continues to navigate these challenges through measured, careful adjustments in its monetary policy stance. Growth is a factor influencing inflation dynamics. It is crucial to ensure that the economy does not grow too slowly, as this could lead to inflation stabilizing below the target. As we move forward, in the current environment of elevated uncertainty stemming from potential global trade frictions and geopolitical tensions, the ECB’s prudent data-dependent meeting by meeting approach shall continue to be important in addressing the evolving economic conditions within the euro area to ensure the timely return to the inflation target in a sustainable manner. The ECB is not pre-committing to a particular rate path.

    Conclusion

    Let me now conclude: the Cypriot economy has shown resilience and adaptability, supported by strong performance, prudent fiscal policies, and a stable financial system, with key contributions from banking and shipping. As one of the pillars of our economy, the shipping sector continues to demonstrate global competitiveness and innovation, further strengthening Cyprus’s position as a leading maritime hub. Looking ahead, challenges like climate change and geopolitical risks demand strategic foresight, but Cyprus is well-prepared to sustain growth.

    At the Euro Area level, the economic outlook balances risks and opportunities, with the ECB ensuring price stability and sustainable growth through proactive, data-driven policies. By remaining data-driven and proactive, we can ensure that the monetary framework across the region remains resilient and responsive to evolving global dynamics.

    Thank you.

    MIL OSI Economics –

  • MIL-OSI United Kingdom: City prepares for Everton FC’s historic first game at new stadium

    Source: City of Liverpool

    The first Everton Stadium test event takes place today (Monday, 17 February) in front of a capacity of 10,000 spectators.

    Kick off for this historic game at Bramley Moore Dock (an Under-18s friendly fixture against Wigan Athletic) will be 7pm, with road closures around the £500m venue to begin at 5pm (see below).

    To coincide with the venue hosting its first match, a new experimental parking zone for the area around the 52,888 capacity stadium and the city’s north docks (see the map here) also goes live today.

    Established under an Experimental Traffic Regulation Order (ETRO), the zone is subject to a public consultation to gain feedback from residents and businesses.

    Although it goes live today, the new parking scheme becomes fully operational when the 2025/26 football season begins in August.

    There are two key points about the ETRO:

    1. It allows the Council to monitor and evaluate the scheme’s effectiveness, and modify it, if necessary, before making the measures permanent.
    2. These measures can run for a maximum of 18 months (expiring in August 2026) but that does not mean changes have to wait until then.

    For example, although it states the number of permits per business will be set at 10, we will consider any request for more permits on a case-by-case basis.

    You can have your say on this ETRO in our quick survey at: https://www.smartsurvey.co.uk/s/BramleyMooreParking/ and if you have any further questions, please email: bramleymooredockETRO@liverpool.gov.uk 

    All travel options for today’s first test game are outlined below.

    A second test game is being scheduled for March, which will see 25,000 fans use all four stands of the waterfront stadium.

    ROAD CLOSURES:

    Road closures will be in place two hours before kick-off on the main approach roads to the stadium: Waterloo Road, Regent Road, Ten Streets Area, roads surrounding Wellington Employment Park, and roads south of Bankfield Street.

    These roads will also be closed from final whistle until crowds have dispersed. Sandhills Lane will be closed following the final whistle at Sandhills Station to assist in crowd management.

    Supporters travelling by car are advised to avoid these closure areas.

    WALKING to the stadium:

    Road closures in place on surrounding streets will create a safe walking route for supporters on approach to Everton Stadium.

    Both Regent Road and Waterloo Road will be closed to general traffic between the city centre and Bankfield Street to assist pedestrian safety, as well as much of the Ten Streets area.

    Sandhills Lane will also be closed to traffic in the post-match period to assist with crowd movement.

    Supporters crossing the Bascule Bridge on Regent Road will be managed by stewards in attendance, with a flow-system in place for safety reasons.

    BY TRAIN:

    Merseyrail services will be running to normal timetables.

    The closest station is Sandhills, which is approximately a 15-minute walk from the stadium entrance.

    Please note: The Old Hall Street entrance of Moorfields station in Liverpool city centre is only open until 7pm on Monday 17 February.

    A new fan management area will be in operation adjacent to Sandhills in the post-match period, to aid the expected increase in numbers of rail users.

    Sandhills Lane will be closed to general vehicle traffic in the post-match period to assist with crowd movement.

    BY SHUTTLE BUS:

    There will be three commercially-operated shuttle bus services operating for the first test event, running from two hours before kick-off and from 15 minutes from the final whistle, but not during the match. The fare is a standard £2 single fare, and these routes are as follows:

    · 919 Service from / to Commutation Row / Lime Street

    City Centre Pick up & Drop Off: Commutation Row

    Stadium Drop off: Great Howard Street at Blackstone Street

    Stadium Pick Up: Great Howard Street at Bentinck Street

    · 929 Service from / to Liverpool One Bus Station

    City Centre Pick Up & Drop Off: Liverpool One Bus Station

    Stadium Drop off: Great Howard Street at Blackstone Street

    Stadium Pick Up: Great Howard Street, north of Denbigh Street

    · 939 Service from / to Bootle Strand Bus Station

    Bootle Pick-Up & Drop Off: Bootle Bus Station, Washington Parade (Strand Shopping Centre). Please note, the Strand Shopping Centre Multi-Storey Car Park (MSCP) will be open late to accommodate supporters wishing to park in Bootle to use the dedicated Shuttle Bus (MSCP location – Vermont Way, Bootle, L20 4XZ).

    Stadium Drop Off: Derby Road at Wellington Employment Park, north of Blackstone Street

    Stadium Pick Up: Derby Road, north of Boundary Street

    ACCESSIBLE SHUTTLE SERVICE:

    A free shuttle bus service will operate for supporters with accessible needs between Sandhills Station (Sandhills Lane) and Boundary Street (around 175 metres from Everton Stadium), before and after the first test event. This service must be booked in advance by contacting the Accessibility Team at Everton on 0151 556 1878 (option 1, then 2, followed by 3).

    The 919, 929 and 939 shuttle buses, outlined above, also stop at stadium bus stops and Boundary St (at Royal Crest Hotel), for those with limited mobility.

    TAXIS:

    There will be three nearby taxi ranks. All three ranks lie outside of the road closures (outlined below) and are for black/Hackney cabs only. These are located at:

    · Sandhills Station

    · Boundary Street, near junction with Shadwell Street

    · Dublin Street

    BY BICYCLE:

    Cycle parking stands are available for supporters to use. These are located along the Regent Road/dock wall inside the stadium footprint. Bikes are left at the owner’s risk.

    No access to the stadium for supporters to collect their cycles will be possible once the stadium closes post-match.

    Supporters are advised not to cycle within the road closure areas through crowds of supporters.

    BY CAR:

    Supporters are advised that road closures and parking restrictions will be in place in the vicinity of the stadium for the first test event and are advised not to drive directly to the stadium.

    Please DO NOT park on residential and industrial streets surrounding the stadium, as parking enforcement will be in operation. Any illegally parked cars will incur a fine.

    Supporters travelling by car are advised to use car parks in the vicinity of the city centre or Bootle Strand for onward travel to Everton Stadium by train, shuttle bus, or on foot. The Strand Shopping Centre Multi-Storey Car Park, located at Vermont Way, Bootle, L20 4XZ, will be open late to accommodate supporters attending the test event.

    There is limited accessible car parking on site at Everton Stadium, which is now fully booked. Supporters with accessibility requirements who have already been allocated car parking for the first test event are advised to arrive no later than one hour before kick-off as access through closed roads will be denied.

    MIL OSI United Kingdom –

  • MIL-OSI: SoluAI Launches Decentralized AI Computing on Blockchain, Fueled by GPU Networks

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Feb. 17, 2025 (GLOBE NEWSWIRE) — SoluAI, a Layer 1 blockchain platform focused on decentralized AI computing, announces the launch of its platform, which enables the efficient use of GPU resources for AI model training and deployment. SoluAI offers a blockchain-powered alternative to centralized AI infrastructure, aimed at creating more accessible and cost-effective AI technologies.

    By integrating artificial intelligence with blockchain, SoluAI intends to simplify the access to AI model training and create new opportunities for developers, businesses, and independent users to contribute to and benefit from an evolving decentralized ecosystem.

    Advancing AI Accessibility with SoluAI’s Core Features

    At the core of SoluAI are several features designed to appeal to developers and contributors:

    • Decentralized GPU Network: Individuals and businesses can provide unused GPU resources to the SoluAI network and be rewarded for their contributions. This helps to distribute computing power efficiently while solving the issues of scalability often found in centralized systems.
    • AI Model Training & Hosting: The platform allows AI models to be trained on a distributed network while minimizing computational costs. Hosted models can also be accessed securely for tasks such as natural language processing, image generation, and more.
    • SoluAI Marketplace: A dedicated marketplace lets developers offer pre-trained AI models, GPU resources, and other services. Users can browse available assets, fine-tune models, and integrate them into their own applications.
    • Privacy and Security: By leveraging blockchain technology, SoluAI ensures that sensitive data used in AI training remains secure, while model queries operate in a private, trusted execution environment.

    These features are designed to support developers, researchers, and businesses, enabling them to build and execute AI solutions in a decentralized manner.

    A Roadmap to Redefine AI and Blockchain Integration

    SoluAI’s growth is structured around a three-phase implementation plan, with clear goals for each stage:

    • Phase 1: Foundations (Ongoing)
      The initial phase involves the launch of the SoluAI blockchain and the foundational infrastructure for decentralized GPU computation. This includes onboarding contributors to the network, integrating GPU participation, and initiating the presale of its utility token, $LUAI.
    • Phase 2: Ecosystem Development (Q2–Q3 2025)
      SoluAI aims to release its core application features, including the TAAS (Training-as-a-Service) platform and marketplace. This phase also focuses on expanding partnerships with AI and blockchain-focused companies to drive network activity and collaboration.
    • Phase 3: Expansion and Decentralization (H2 2025)
      SoluAI plans to enhance its technical capabilities and incentivize greater involvement in the ecosystem. By the end of 2025, SoluAI aims to deploy initiatives encouraging decentralized governance and broader adoption of its AI tools and services.

    $LUAI Token: Powering Innovation and Collaboration

    The $LUAI token powers the SoluAI ecosystem by facilitating transactions and incentives. Its utility includes staking opportunities, governance participation, and rewarding network contributors such as GPU operators. The token supply structure is designed to strike a balance between incentivizing early adopters and supporting sustained development:

    • Total Token Supply: 1,000,000,000 $LUAI tokens
    • 36%: Allocated for early investor and presale participation to fund development.
    • 20%: Reserved for staking and rewards for node operators.
    • 15%: Facilitating platform adoption through marketing and partnerships.
    • 19%: Project development and research initiatives.
    • 10%: Founders and core team allocation.

    An independent audit has been conducted to ensure tokenomics and project transparency for all stakeholders.

    SoluAI’s Value Proposition

    SoluAI provides an open, developer-friendly system where AI technologies can be deployed in a decentralized manner. By using blockchain to create an accessible platform for AI model training, the project offers businesses and developers an alternative to reliance on centralized infrastructure providers.

    The decentralized model not only supports cost-efficiency with a cost reduction of up to 70% for training AI models, but also fosters an inclusive environment, where contributors from around the world can participate and earn rewards based on their resource contributions.

    About SoluAI

    SoluAI is a Layer 1 blockchain specializing in decentralized AI computing. By harnessing idle GPU power, SoluAI enables efficient AI model training and hosting at a reduced cost. The platform places an emphasis on security, scalability, and developing a practical ecosystem for AI developers, businesses, and contributors.

    To learn more about the project, visit the official website. Updates are regularly shared on SoluAI’s Twitter/X, Telegram, and Discord.

    Media Contact:
    Ethan Caldwell
    contact@soluai.net

    Disclaimer: This content is provided by SoluAI. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/8048d5d5-2fd0-4bfd-9a87-9b10a2b41891 
    https://www.globenewswire.com/NewsRoom/AttachmentNg/d9543860-0a1e-44c5-9da0-2dea74a46985
    https://www.globenewswire.com/NewsRoom/AttachmentNg/eca9d5d5-e751-48aa-b8f9-80f51f165a54

    The MIL Network –

  • MIL-OSI: 3D Systems’ Co-founder & Chief Technology Officer for Regenerative Medicine, Chuck Hull, Elected to the National Academy of Engineering

    Source: GlobeNewswire (MIL-OSI)

    ROCK HILL, S.C., Feb. 17, 2025 (GLOBE NEWSWIRE) — Today, 3D Systems (NYSE: DDD) announced Charles (Chuck) Hull, its co-founder and chief technology officer for regenerative medicine, has been elected to the National Academy of Engineering (NAE). Election to the NAE is among the highest professional distinctions accorded to an engineer. Academy membership honors those who have made outstanding contributions in at least one of the following categories: “engineering practice, research, or education,” “pioneering of new and developing fields of technology, major advancements in traditional fields of engineering, or development/implementation of innovative approaches to engineering education,” or “engineering leadership of one or more major endeavors.” NAE members are among the world’s most accomplished engineers from business, academia, and government. Mr. Hull is being honored for the invention of 3D printing and the subsequent development of the additive manufacturing industry. 

    “It is humbling to be elected to this academy of distinguished engineers,” said Mr. Hull. “I’m honored and excited to serve and work alongside such outstanding professionals to advance the positive impact engineering has on our world.”

    Mr. Hull pioneered the development of 3D printing while Vice President of Engineering at UVP, Inc. (now Analytik Jena), a manufacturer of ultraviolet light sources. His work on fusing UV resins into 3D structures for prototyping led to the creation of the first 3D-printed part, an eye wash cup, in 1983 using Stereolithography (SLA). He patented this technology and subsequently co-founded 3D Systems in 1986, launching the first commercial 3D printer, the SLA-1, and thus establishing the 3D printing industry.

    Mr. Hull’s groundbreaking invention has earned him numerous accolades. In October of 2023, he received the National Medal of Technology and Innovation (NMTI) from President Joe Biden. Established in 1980, the NMTI is the United States’ highest honor for technological achievement, awarded by the President of the United States for outstanding contributions to America’s economic, environmental, and social well-being. Mr. Hull was inducted into the National Inventors Hall of Fame (2014) and received the European Inventor Award (2014) for his transformative impact. His contributions have also been recognized with the Manufacturing Leadership Lifetime Achievement Award (2016), the ASME’s designation of the SLA-1 as a Historic Mechanical Engineering Landmark, and The Economist’s 2013 Innovation Award. With 85 US patents and numerous international patents in ion optics and 3D printing, Mr. Hull’s legacy as an inventor is firmly established.

    “On behalf of the entire 3D Systems team, it is my pleasure to extend our deepest congratulations to Chuck for this honor,” said Dr. Jeffrey Graves, president & CEO, 3D Systems. “His pioneering work has revolutionized manufacturing and profoundly impacted healthcare delivery. Chuck’s invention of Stereolithography not only launched an entire industry but also sparked the proliferation of numerous applications for 3D printing technologies. Whether we look at aerospace, personalized healthcare solutions, AI infrastructure, or the automotive industry, 3D printing is playing a significant role in how these industries innovate. Thanks to Chuck’s groundbreaking initial innovation with SLA, we are transforming manufacturing and patient care for a better future.”

    Mr. Hull is among 128 new members and 22 international members in the NAE Class of 2025. Elected by their peers, the ballot for this class was set in December and the final vote took place in January. He and his class will be formally inducted during the NAE’s Annual Meeting on October 5, 2025.

    Forward-Looking Statements
    Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as “believes,” “belief,” “expects,” “may,” “will,” “estimates,” “intends,” “anticipates” or “plans” or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions, and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings “Forward-Looking Statements” and “Risk Factors” in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or review any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise, except as required by law.

    About 3D Systems
    More than 35 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading additive manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction – empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials, and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems’ solutions address a variety of advanced applications in healthcare and industrial markets such as medical and dental, aerospace & defense, automotive, and durable goods. More information on the company is available at www.3dsystems.com.

    Investor Contact: investor.relations@3dsystems.com
    Media Contact: press@3dsystems.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d059ac89-1e4b-4118-b82f-04fa9bed475a

    The MIL Network –

  • MIL-OSI Africa: Why is there so much gold in west Africa?

    Source: The Conversation – Africa – By Raymond Kazapoe, Senior lecturer, University for Development Studies

    Militaries that have taken power in Africa’s Sahel region – notably Mali, Burkina Faso and Niger – have put pressure on western mining firms for a fairer distribution of revenue from the lucrative mining sector.

    Gold is one of the resources at the heart of these tensions. West Africa has been a renowned gold mining hub for centuries, dating back to the ancient Ghana empire, which earned its reputation as the “Land of Gold” because of its abundant reserves and thriving trade networks. The region remains a global leader in gold production. As of 2024, west Africa contributed approximately 10.8% of the world’s total gold output.

    But why is there so much gold in this region? The Conversation Africa asked geologist Raymond Kazapoe to explain.

    How is gold formed?

    The simple answer here is that we are not certain. However, scientists have some ideas.

    Gold, like all elements, formed through high energy reactions that occurred in various cosmic and space environments some 13 billion years ago, when the universe started to form.

    However, gold deposits – or the concentration of gold in large volumes within rock formations – are believed to occur through various processes, explained by two theories.

    The first theory – described by geologist Richard J. Goldfarb – argues that large amounts of gold were deposited in certain areas when continents were expanding and changing shape, around 3 billion years ago. This happened when smaller landmasses, or islands, collided and stuck to larger continents, a process called accretionary tectonics. During these collisions, mineral-rich fluids moved through the Earth’s crust, depositing gold in certain areas.

    A quartz vein rock specimen with visible gold. Mangiwau/Getty Images

    A newer, complementary theory by planetary scientist Andrew Tomkins explains the formation of some much younger gold deposits during the Phanerozoic period (approximately 650 million years ago). It suggests that as the Earth’s oceans became richer in oxygen during the Phanerozoic period, gold got trapped within another mineral known as pyrite (often called fool’s gold) as microscopic particles. Later, geological processes – like continental growth (accretion) and heat or pressure changes (metamorphism) released this gold – forming deposits that could be mined.

    Where in west Africa is gold found and what are its sources?

    Most gold production and reserves in west Africa are found within the west African craton. This is one of the world’s oldest geological formations, consisting of ancient, continental crust that has remained largely unchanged for billions of years.

    West African Craton. Wikipedia

    The craton underlies much of west Africa, spanning parts of Mali, Ghana, Burkina Faso, Côte d’Ivoire, Guinea, Senegal and Mauritania. In fact, most west African countries that have significant gold deposits have close to 50% of their landmass on the craton. Notably, between 35% and 45% of Ghana, Mali and Côte d’Ivoire’s territory sits on it – which is why these areas receive so much attention from gold prospectors.

    Gold deposits were formed within west Africa’s craton rocks during a major tectonic event, known as the Eburnean Orogeny, 2.2 billion to 2.08 billion years ago. This event was accompanied by the temperature, pressure and tectonic conditions which promote gold mineralisation events. Most of the gold resources in the west African craton are found within ancient geological formations formed by volcanic and tectonic processes about 2.3 billion to 2.05 billion years ago. These are known as the Rhyacian Birimian granitoid-greenstone belts.

    These gold-bearing belts in Ghana and Mali are by far the most endowed when compared with other countries in the region. Ghana and Mali currently, cumulatively account for over 57% of the combined past production and resources of the entire west Africa sub-region.

    Gold bearing geological structures in Ghana. Gerhard Michael Free/Shutterstock

    Ghana is thought to be home to 1,000 metric tonnes of gold. The country produces 90 metric tonnes each year – or 7% of global production. Gold production in Mali reached around 67.7 tonnes in 2023. Mali has an estimated 800 tons of gold deposits.

    By comparison, the world’s two largest gold producers are China (which mined approximately 370 metric tonnes of gold in 2023) and Australia (which had an output of around 310 metric tonnes in 2023).

    What are some of the modern exploration tools used to find gold?

    Gold was traditionally found by panning in riverbeds, where miners swirled sediment in water to separate the heavy gold particles, or by digging shallow pits to extract gold-rich ores. Over time, methods have evolved to include geochemical exploration techniques, advanced geophysical surveys, and chemical extraction techniques, like cyanide leaching.

    Geological mapping techniques are always evolving, and at the moment, there is a lot of interest in combining remote sensing data with cutting-edge data analytics methods, like machine learning. By combining these two methods, geologists can get around some of the problems caused by traditional methods, like the reliance on subjective judgement to create reliable maps and the need to spend money prospecting in areas with low chances of success.

    In recent years, deep learning computer techniques have made significant progress. They examine various geological data-sets to reduce uncertainty and increase the chances of finding gold mineralisation through advanced artificial intelligence techniques. These methods have proved highly beneficial in identifying specific features and discovering new mineral deposits when applied to remote sensing data.

    Another method, which I’ve researched and which could serve as a complementary gold exploration tool, is the use of stable isotopes. Stable isotopes are elements – like carbon, hydrogen and oxygen – that do not decay over time. Some are responsible for helping to carry gold, in fluids, through rocks to form the deposits. As the gold-bearing fluids interact with the rocks, they transfer the stable isotopes to the rocks, thereby imbuing them with their unique signature. The thinking here is to identify the signature and then use it as a proxy for finding gold, since gold itself is hard to identify directly.

    Advancements in analytical techniques have reduced the cost, volume, and time involved. This makes it a viable alternative to geochemical approaches – the most widely used and relatively efficient method.

    – Why is there so much gold in west Africa?
    – https://theconversation.com/why-is-there-so-much-gold-in-west-africa-248599

    MIL OSI Africa –

  • MIL-OSI Global: Why is there so much gold in west Africa?

    Source: The Conversation – Africa – By Raymond Kazapoe, Senior lecturer, University for Development Studies

    Militaries that have taken power in Africa’s Sahel region – notably Mali, Burkina Faso and Niger – have put pressure on western mining firms for a fairer distribution of revenue from the lucrative mining sector.

    Gold is one of the resources at the heart of these tensions. West Africa has been a renowned gold mining hub for centuries, dating back to the ancient Ghana empire, which earned its reputation as the “Land of Gold” because of its abundant reserves and thriving trade networks. The region remains a global leader in gold production. As of 2024, west Africa contributed approximately 10.8% of the world’s total gold output.

    But why is there so much gold in this region? The Conversation Africa asked geologist Raymond Kazapoe to explain.

    How is gold formed?

    The simple answer here is that we are not certain. However, scientists have some ideas.

    Gold, like all elements, formed through high energy reactions that occurred in various cosmic and space environments some 13 billion years ago, when the universe started to form.

    However, gold deposits – or the concentration of gold in large volumes within rock formations – are believed to occur through various processes, explained by two theories.

    The first theory – described by geologist Richard J. Goldfarb – argues that large amounts of gold were deposited in certain areas when continents were expanding and changing shape, around 3 billion years ago. This happened when smaller landmasses, or islands, collided and stuck to larger continents, a process called accretionary tectonics. During these collisions, mineral-rich fluids moved through the Earth’s crust, depositing gold in certain areas.

    A newer, complementary theory by planetary scientist Andrew Tomkins explains the formation of some much younger gold deposits during the Phanerozoic period (approximately 650 million years ago). It suggests that as the Earth’s oceans became richer in oxygen during the Phanerozoic period, gold got trapped within another mineral known as pyrite (often called fool’s gold) as microscopic particles. Later, geological processes – like continental growth (accretion) and heat or pressure changes (metamorphism) released this gold – forming deposits that could be mined.

    Where in west Africa is gold found and what are its sources?

    Most gold production and reserves in west Africa are found within the west African craton. This is one of the world’s oldest geological formations, consisting of ancient, continental crust that has remained largely unchanged for billions of years.

    The craton underlies much of west Africa, spanning parts of Mali, Ghana, Burkina Faso, Côte d’Ivoire, Guinea, Senegal and Mauritania. In fact, most west African countries that have significant gold deposits have close to 50% of their landmass on the craton. Notably, between 35% and 45% of Ghana, Mali and Côte d’Ivoire’s territory sits on it – which is why these areas receive so much attention from gold prospectors.

    Gold deposits were formed within west Africa’s craton rocks during a major tectonic event, known as the Eburnean Orogeny, 2.2 billion to 2.08 billion years ago. This event was accompanied by the temperature, pressure and tectonic conditions which promote gold mineralisation events. Most of the gold resources in the west African craton are found within ancient geological formations formed by volcanic and tectonic processes about 2.3 billion to 2.05 billion years ago. These are known as the Rhyacian Birimian granitoid-greenstone belts.

    These gold-bearing belts in Ghana and Mali are by far the most endowed when compared with other countries in the region. Ghana and Mali currently, cumulatively account for over 57% of the combined past production and resources of the entire west Africa sub-region.

    Ghana is thought to be home to 1,000 metric tonnes of gold. The country produces 90 metric tonnes each year – or 7% of global production. Gold production in Mali reached around 67.7 tonnes in 2023. Mali has an estimated 800 tons of gold deposits.

    By comparison, the world’s two largest gold producers are China (which mined approximately 370 metric tonnes of gold in 2023) and Australia (which had an output of around 310 metric tonnes in 2023).

    What are some of the modern exploration tools used to find gold?

    Gold was traditionally found by panning in riverbeds, where miners swirled sediment in water to separate the heavy gold particles, or by digging shallow pits to extract gold-rich ores. Over time, methods have evolved to include geochemical exploration techniques, advanced geophysical surveys, and chemical extraction techniques, like cyanide leaching.

    Geological mapping techniques are always evolving, and at the moment, there is a lot of interest in combining remote sensing data with cutting-edge data analytics methods, like machine learning. By combining these two methods, geologists can get around some of the problems caused by traditional methods, like the reliance on subjective judgement to create reliable maps and the need to spend money prospecting in areas with low chances of success.

    In recent years, deep learning computer techniques have made significant progress. They examine various geological data-sets to reduce uncertainty and increase the chances of finding gold mineralisation through advanced artificial intelligence techniques. These methods have proved highly beneficial in identifying specific features and discovering new mineral deposits when applied to remote sensing data.

    Another method, which I’ve researched and which could serve as a complementary gold exploration tool, is the use of stable isotopes. Stable isotopes are elements – like carbon, hydrogen and oxygen – that do not decay over time. Some are responsible for helping to carry gold, in fluids, through rocks to form the deposits. As the gold-bearing fluids interact with the rocks, they transfer the stable isotopes to the rocks, thereby imbuing them with their unique signature. The thinking here is to identify the signature and then use it as a proxy for finding gold, since gold itself is hard to identify directly.

    Advancements in analytical techniques have reduced the cost, volume, and time involved. This makes it a viable alternative to geochemical approaches – the most widely used and relatively efficient method.

    Raymond Kazapoe receives funding from the African Union and Pan African University to carry out some of the research referenced in this article

    – ref. Why is there so much gold in west Africa? – https://theconversation.com/why-is-there-so-much-gold-in-west-africa-248599

    MIL OSI – Global Reports –

  • MIL-OSI USA: UConn Researchers Tracking Change in Precious Ecosystems

    Source: US State of Connecticut

    Primary forests, or old-growth forests as they are sometimes called, are epicenters of rich biodiversity, are more resilient than younger forests, and store significantly more carbon than their younger counterparts, to name just a few of the vital roles of these essential and irreplaceable ecosystems. The preservation of primary forests is the focus of global conservation efforts.

    The UConn Global Environmental Remote Sensing (GERS) Lab has developed a new remote sensing method to continuously monitor primary forest loss and determine what factors are driving that loss. Their findings are published in Remote Sensing of Environment.

    Lead author and Department of Natural Resources and the Environment Ph.D. student Falu Hong says that they focused on these key habitats on the island of Hispaniola, which includes Haiti and the Dominican Republic, using satellite images from the years 1996-2022.

    “We used a satellite time series to track primary forest loss, and we focused on these two countries because they have experienced significant primary forest loss and because they are ignored in previous studies, especially Haiti, which is one of the hotspots of biodiversity loss,” says Hong. “We analyzed the forest loss over 27 years of land cover change, which has not been done in previous studies.”

    The researchers analyzed multiple dimensions of forest loss, including the primary forest inside and outside of protected areas and the drivers of forest loss. They applied a method called the COtinuous monitoring of Land Disturbance algorithm (COLD) and remote sensing data from Landsat to create a map of the primary forest loss.

    Ji Won Suh, a postdoctoral researcher in the GERS lab, says this study showcases the power of using Landsat time series data.

    “So few studies focus on primary forests because it is very difficult to map them using remote sensing signals. Sometimes it is difficult to differentiate a secondary forest or regenerated forest from a primary forest, but this study successfully classified those primary forests using a random forest machine learning model.”

    Suh says the accuracy of the map was verified by their collaborator and co-author S. Blair Hedges from Temple University, who is an expert on primary forests on Hispaniola Island.

    “Another unique part of this study is we created a primary forest map over time,” Suh says. “Usually other studies just focused on a one-time event. We can track the loss of primary forests over many years. Our study is a way where we can map the trajectory of loss as it happens and we can analyze why those losses happen.”

    They found the main drivers of primary forest loss in Haiti are fire, which caused around 65% of the observed losses, followed by logging which accounted for about 20% of the primary forest loss, and around 10% of the forest loss was attributed to hurricane damage.

    “We found that in 2016, Hurricane Matthew destroyed around 12% of the primary forest in Haiti, just in one year,” says Hong. “That’s a huge amount of loss. With our map we can visualize the primary forest change and analyze the drivers causing that change. We can also analyze forest fragmentation. Usually, primary forests are homogeneous, but activities like construction or logging result in the forest becoming more and more fragmented. We quantified the fragmentation level of the primary forest which could give good insight into biodiversity conservation and preservation.”

    They also found that primary forest fragmentation is more pronounced in Haiti, where patches of primary forest are smaller and less numerous. Primary forests in both Haiti and the Dominican Republic are located on steep terrain, indicating that primary forests located in flatter and more accessible areas are prone to development and forest destruction.

    This paper is the first step in a larger project, says Hong, where the next steps are to begin expanding the mapping across the Caribbean region to evaluate the impact of primary forest loss on biodiversity change.

    GERS Lab Director and Associate Professor in the Department of Natural Resources and the Environment Zhe Zhu says that as primary forests have the lion’s share of biodiversity, many of the species living there are also endangered, so the preservation of these irreplaceable ecosystems is paramount. Having a reliable method to map primary forests accurately will help in the effort,

    “One thing I want to emphasize about this work is that it is very difficult to identify between different forests like primary dry forests, primary wet forests, and secondary forests, for example. A primary forest may look very similar if the secondary forest is old enough. You can have very subtle human disturbances causing it to no longer be a primary forest. You need to know the driver and how severe the drivers are. You also need to know the resilience of the trees.”

    This work is supported by a $2 million NSF grant with the goal of linking remote sensing to track biodiversity through time.

    “We are treating remote sensing as a time machine to backward and forward to forecast future impacts on biodiversity. It is a very fun project that a lot of us in the GERS lab are working on,” says Zhu.

    Tracking the impacts on biodiversity and the drivers of change is important for conservation and policymaking, and studies like this can yield surprising results and insights into what needs to happen to preserve vital ecosystems like primary forests.

    This work was supported by a grant from the NSF Biodiversity on a Changing Planet (BoCP) program (2326013 and 2326014).

    MIL OSI USA News –

  • MIL-OSI Global: Too distracted to watch? Netflix has the perfect ‘second-screen’ show for you

    Source: The Conversation – Canada – By Daphne Rena Idiz, Postdoctoral fellow, Department of Arts, Culture and Media, University of Toronto

    Overly expository dialogue, repeating plot points and lots of voice-overs to narrate action help distracted viewers along. (Shutterstock)

    Netflix knows we’re on our phones while we watch TV. Recent articles discuss Netflix’s or streamers’ requests for creatives to produce content optimized for casual viewing, meaning intentionally scripted for distracted viewers.

    I’ve spent the last few years researching how Netflix shapes European screen production, a region where the streaming giant has invested billions in original content.

    I first encountered the concept of “second-screen shows” — created with distracted viewing in mind — in 2022.

    At the time, I was doing interviews with producers, showrunners, screenwriters and directors who had worked on European Netflix originals (due to confidentiality, they have been given pseudonyms here). Two of my interviewees described what they saw as very unusual feedback coming from Netflix executives: make a show that the audience can follow without looking at the screen.

    Recipe for a ‘second-screen show’

    So, how exactly do you make a second-screen show?

    One of my interviewees, Eleven, said that Netflix explicitly labels certain series “second-screen shows” and develops them as such. Another, Tokyo, shared their experience encountering similar directives:

    “[Netflix] basically said, ‘What you need to know about your audience here is that they will watch the show, perhaps on their mobile phone, or on a second or third screen while doing something else and talking to their friends, so you need to both show and tell, you need to say much more than you would normally say. […] You need your audience to understand what’s going on, even if they’re not looking at the screen.’”

    These series are designed around the viewing behaviours of their target audience, described by my interviewees as “younger” and “young adult” viewers.

    As Eleven explained, a Netflix executive would talk about how “in this show, we have to make sure that the points come through, even though kids are watching TikTok while they watch it.”

    Because Netflix knows a certain target audience will be “second-screening” these series, the streamer wants the show’s writing to facilitate this practice. Concretely, this means overly expository dialogue, repeating plot points and adding lots of voice-overs to narrate the action and help the distracted viewer follow along.

    Other sources cite examples where screenwriters were told to have characters announce what they’re doing and make the show less distracting from the viewer’s “primary screen” (their phone).

    Eleven joked about how if a character was sad, Netflix would ask to include a line of dialogue for the character saying, “I’m sad” with tears streaming down their face, while rain pours, and mournful violins play in the background.

    Here, the golden rule of screenwriting “show, don’t tell,” is cast aside for “show and tell” (and tell again). Joking aside, they reflected: “It saddens me, on behalf of great storytelling traditions.”

    The revival of casual viewing

    But are second-screen shows really the final nail in the coffin for prestige TV? The idea of casual or background viewing is not new.

    There is a long history of content targeting the distracted viewer.
    (Shutterstock)

    From soap operas to sitcoms to reality TV, there is a long history of content targeting the distracted viewer.

    Sometimes we’re just tired and need an easy watch. But these types of series are a far cry from the era of HBO-style Netflix, hyping itself as the home of quality TV, a place where showrunners could find unprecedented creative freedom.

    There is still a time and place for complex storytelling. But data suggests
    that over half of viewers in many national markets — including in India, the United Arab Emirates, Australia, the United States, Britain and Denmark — are periodically checking their phones while watching TV. And Netflix is creating shows that enable this ritual.

    ‘Cult’ of data

    Netflix’s strategy has always hinged on a granular understanding of its users. Netflix collects a huge amount of data on its subscribers and their viewing behaviors: what they’re watching, how, when, where and on what device. This information is used by teams of data scientists to not only improve Netflix’s personalization but also to help with decisions about what content to develop and how.

    Yet research suggests Netflix has really cultivated the “myth of big data,” flip-flopping over the years about how much data influences the creative process of Netflix productions.

    And while screen workers may resist what they sense about analytics as they participate in creative processes, ultimately, it is the executives greenlighting content who interpret data and choose how to use it.

    Geralt, another producer I interviewed, described how “whenever you talk to the algorithm people and the data people at Netflix, it feels like a cult. They talk about the algorithm like it’s a god, like ‘Well the algorithm tells us…’”

    One part of the content strategy

    With that said, it’s critical to take blanket statements about Netflix’s operations with a grain of salt.

    The behemoth operates in more than 190 countries, with offices in 30, housing different teams and producing content around the globe. It’s estimated that 589 new Netflix originals were added in 2024.

    Recent articles about “second screen” productions focused on the U.S. context, and my research did not seek to determine how many Netflix productions are made this way.

    Netflix’s goal these days, according to CEO Ted Sarandos, is to be “equal parts HBO and FX and AMC and Lifetime and Bravo and E! and Comedy Central.”

    Second-screen shows, it seems, are one part of this strategy.

    Outlook for storytellers

    It’s clear that viewing behaviours are driving changes in storytelling. But for screenwriters today, second-screen shows are only a symptom of bigger problems.

    Between a shrinking drama market and the competition for attention from platforms like YouTube and TikTok, streamers are investing a lot less in content than they used to. They’re also much more risk-averse with these investments.

    Even before now, producing for streamers brought its own set of challenges.

    Writer advocates with the 2023 TV writers strikes highlighted how streaming introduced new and exciting formats for TV writing, but also a new kind of precarity. And concerns continue to loom around how AI might impact creativity, career sustainability and IP rights.

    Last year, the Canadian Media Producers Association joined production organizations around the world in issuing a call for streaming regulation that underscores independence, IP rights and fair remuneration.



    Read more:
    Online Streaming Act: As we revisit Netflix support for Canadian content, it’s about more than money

    It’s no surprise the mantra across the media industries last year was “survive ‘til ’25.”

    As media creators become increasingly dependent on data-driven tech companies, they will continue producing content to the whims of executives following the holy algorithm.

    The next time you’re watching a Netflix show and feel the urge to scroll during another repetitive voice-over, the question is: Are some shows written like this because the audience is disengaged, or is the audience disengaged because shows are written like this?

    Daphne Rena Idiz 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. Too distracted to watch? Netflix has the perfect ‘second-screen’ show for you – https://theconversation.com/too-distracted-to-watch-netflix-has-the-perfect-second-screen-show-for-you-249012

    MIL OSI – Global Reports –

  • MIL-OSI Global: Canadian immigrants are overqualified and underemployed — reforms must address this

    Source: The Conversation – Canada – By Marshia Akbar, Director of the BMO Newcomer Workforce Integration Lab and Research Lead on Labour Migration at the CERC Migration and Integration Program at TMU, Toronto Metropolitan University

    Canada’s labour market struggles are not caused by the number of newcomers, but by systemic issues such as underemployment and skills-job mismatches. (Shutterstock)

    Recent immigration reforms in Canada have cut international student and temporary resident numbers, restricted work permits for them and their spouses and aim to reduce permanent resident admissions by 21 per cent in 2025, with further cuts ahead.

    Such changes are aimed to avoid competition with local unemployed Canadians at a time of rising unemployment. However, these changes may eventually intensify dysfunctions in the Canadian labour market.

    With an overall unemployment rate of 6.6 per cent and a youth unemployment rate of 13.6 per cent alongside a worsening housing crisis, these policies reflect growing pressures.

    However, blaming newcomers — particularly international students and their spouses — for job shortages overlooks deeper structural issues in the labour market. Canada’s labour market struggles are not caused by the number of newcomers, but by systemic issues such as underemployment and skills-job mismatches.

    Unemployment and underemployment

    While rising unemployment is affecting everyone, newcomers have been hit especially hard. In 2024, the unemployment rate for immigrants hit 11 per cent — more than double the 5.6 per cent rate for Canadian-born workers.

    Underemployment is also a persistent issue for immigrants. In 2021, only 44 per cent of immigrants who had arrived in Canada within the previous decade were employed in jobs matching their education level, compared to 64 per cent of Canadian-born workers aged 25 to 34.

    The over-education rate — the proportion of university graduates working in jobs for which they are over-qualified despite holding a bachelor’s degree or higher — was 26.7 per cent for immigrants, more than double the 10.9 per cent rate for Canadian-born workers in 2021.

    Immigrants, particularly those with foreign credentials, are significantly more likely to experience these job-education mismatches compared to Canadian-born workers.

    Approximately two thirds of recent immigrants held a degree from a foreign institution. The over-education rate for these immigrants was 24 per cent higher than that of younger Canadian-born workers.

    Under-employment experienced by many newcomers is largely driven by employers favouring Canadian experience — despite such preferences being illegal in Ontario — and relying on referral networks, which often disadvantage newcomers.

    Hiring managers frequently undervalue international credentials, even when assessed by organizations like World Education Services. Many employers struggle to assess foreign work experience. Some also perceive a lack of familiarity with Canadian workplace norms as a hiring risk.

    Ultimately, hiring managers tend to choose the less risky option, as a bad hire can reflect poorly on them. An exceptional hire, on the other hand, doesn’t necessarily bring them equivalent rewards.

    International experience is undervalued

    International graduates with Canadian degrees generally achieve better labour market outcomes than those educated entirely overseas, experiencing higher earnings and improved job matches.

    However, many still face significant barriers, primarily due to employers’ preference for specific Canadian experience and biases in assessing their skills.

    Although many international students (277,400 in 2018) gain Canadian work experience during their studies and develop soft skills — often in low-paying, customer-facing roles such as accommodation and food services, retail, hospitality or tourism — this experience is often dismissed as irrelevant to professional roles.

    This creates a paradox: employers require Canadian experience for entry-level positions in their field, yet without prior experience, graduates struggle to get hired in the first place.

    In addition, employers often lack clarity about international graduates’ visa statuses, work permit durations and future stays in Canada. Constantly changing policies exacerbate this confusion, deterring employers from hiring.

    A path forward

    Canada’s long-term competitiveness is hindered not by immigration, but by systemic labour market discrimination and inefficiencies that prevent skilled newcomers from fully contributing to the economy.

    Eliminating biases related to Canadian work experience and soft skills is key to ensuring newcomers can find fair work. The lack of recognition of foreign talent has a detrimental effect on the Canadian economy by under-utilizing valuable human capital.

    To build a more inclusive labour market, a credential recognition system should support employers in assessing transferable skills and experience to mitigate perceived hiring risks related to immigrants.

    For international students, enhanced career services at educational institutions are critical. Strengthening partnerships between universities, colleges and employers can expand internships, co-op placements and mentorship programs, providing students with relevant Canadian work experience before graduation.

    Such collaboration is also key to implementing employer education initiatives that address misconceptions about hiring international graduates and highlight their contributions to the workforce.

    Artificial Intelligence (AI) can also play a role in reducing hiring biases and improving job matching for new immigrants and international graduates. Our recent report, which gathered insight from civil society, the private sector and academia, highlights the following AI-driven solutions:

    • Tools like Toronto Metropolitan University’s AI resume builder, Mogul AI, and Knockri can help match skills to roles, neutralize hiring bias and promote equity.

    • Wage subsidies and AI tools can encourage equitable hiring, while AI-powered programs can help human resources recognize and reduce biases.

    • Tools like the Toronto Region Immigrant Employment Council Mentoring Partnership, can connect newcomers with mentors, track their skills and match them to employer needs.

    Harnessing AI-driven solutions, alongside policy reforms and stronger employer engagement, can help break down hiring barriers so Canada can fully benefit from the skills and expertise of its immigrant workforce.

    Marshia Akbar receives funding from the Social Sciences and Humanities Research Council of Canada (SSHRC).

    Anna Triandafyllidou receives funding from the Social Sciences and Humanities Research Council of Canada (SSHRC), the Tri-Agency of Research Councils, Canada and Horizon Europe framework program of the European Commission.

    – ref. Canadian immigrants are overqualified and underemployed — reforms must address this – https://theconversation.com/canadian-immigrants-are-overqualified-and-underemployed-reforms-must-address-this-247974

    MIL OSI – Global Reports –

  • MIL-OSI Europe: Press release – MPs and MEPs meet to discuss economic, budgetary, and social concerns

    Source: European Parliament 3

    The annual European Parliamentary Week will take place on Monday and Tuesday, bringing MEPs together with MPs from member states and EU candidate countries.

    European Parliament President Roberta Metsola will open the event on Monday at 14.30, together with the Marshals of Poland’s Sejm and Senate, Szymon Hołownia and Małgorzata Kidawa-Błońska, respectively.

    Over the event’s two days, participants will discuss the overarching economic, budgetary, and social issues facing Europe and will delve more specifically into the following themes:

    The economic and monetary affairs committee meeting will focus on:

    • The future of Banking Union and Capital Markets Union;
    • Creating an ecosystem for European investments.

    The employment and social affairs committee meeting will focus on:

    • AI and the labour market with a focus on changing working condition;
    • The role of social and employment policies in the EU’s reviewed economic governance framework.

    The budgetary affairs committee meeting will focus on:

    • Bridging the competitiveness gap: how to increase synergies between the national budgets and the post-2027 Multiannual Financial Framework;
    • European Public Goods: how to identify and finance them?

    All relevant information including the participants, programme and the livestream links can be found here.

    MIL OSI Europe News –

  • MIL-OSI United Kingdom: GB Energy & Grangemouth show ‘You can’t trust Labour’

    Source: Scottish National Party

    ‘You can’t trust Labour’. It was an oft made comment during the latter year’s of Tony Blair’s premiership; particularly because of his role in dragging the UK into the Iraq war on the basis of a lie.

    But it took six years for that phrase to become common usage. With the current Westminster Labour government of Keir Starmer it’s only taken six months.

    And recently we saw an example which explains why trust in Keir Starmer’s Labour party has nosedived.

    Before the 2024 election Labour promised that Aberdeen would get 1,000 jobs from hosting the GB Energy headquarters; but now the appointed boss of GB Energy says it will only create 200 jobs in five years.

    The GB Energy boss who won’t even be working in Aberdeen but Manchester! So much for a ‘headquarters’ in Aberdeen.

    These revelations have been followed more recently by news that Grangemouth’s refinery is to close after 100 years.

    Again, another example of how Labour can’t be trusted.

    Before the election Labour, along with Keir Starmer and Anas Sarwar, promised to save the jobs:

    Now it’s scenes of Anas Sarwar repeatedly pleading that he’s powerless because it’s a private company…

    …a private company Labour will financially support when it comes to a football stadium in England and a refinery in Belgium!

    And it was Westminster who tied their own hands when it gave Grangemouth to the private sector:

    Is it any wonder that even Grangemouth’s own Labour MP sounds like he doesn’t trust Labour?

    Even a letter he wrote to Starmer was signed by only one other Scottish Labour MP. So much for Scottish Labour MPs standing up for Scotland.

    But those two examples are just the tip of the iceberg when it comes to Labour promises.

    Take the WASPI women pensioners; betrayed so often by the Tories and now by Labour. As leader of the opposition, Starmer promised to “do something about it”, saying he understood their anger at having “the goalposts moved”.

    In 2020 he railed against the two-child cap on child benefits. In the days running up to the election Scots were told to vote Labour to end child poverty.

    Yet just after the election he suspended seven Labour MPs for voting with the SNP to scrap the cap on child benefit and tackle child poverty.

    Then there’s the winter fuel payment for pensioners. In the run up to voting in July 2024 Starmerrailed against the Tories about how pensioners suffered under the Tories and promised them security.

    Safely in Downing Street his government announced a cut to pensioners’ winter fuel payments despite research by his own party that it could cause 4,000 deaths.

    And what about National Insurance?

    Labour’s manifesto specifically pledged that they would not raise national insurance. In her budget Rachel Reeves increased employer national insurance – a policy that will hit those employing lower paid workers the hardest, charities, GPs and care homes.

    You would think such a level of untrustworthy behaviour would be more than enough after seven months; but there’s more that specifically affects Scotland.

    In the July 2024 election Anas Sarwar expressly promised that Scottish Labour ‘would put Scotland at the heart of Starmer’s government‘; and ‘stand up to Keir Starmer and defend Scotland’s interests‘.

    Instead, as a group, Scottish Labour MPs have meekly voted for cutting the winter fuel payment, keeping the two-child benefit, and failing to support WASPI women.

    And there’s a range of issues where that group of MPs have been subdued when it comes to putting Scotland at the heart of Starmer’s government.

    In August 2024 Rachel Reeves pulled funding for an £800 million computer at Edinburgh University with a Labour source saying the project made “little strategic sense.”

    Yet by January Keir Starmer was announcing that his government had arranged £14 billion of investment in various AI projects.

    At the end of January Rachel Reeves announced her plans for growth in the UK … which amounted to a concentration of UK government assistance between the cities hosting the UK’s two elitist universities.

    The absence for similar assistance for Scotland was notable despite claiming it would deliver to “all corners of the UK“:

    Take CCS, or Carbon Capture & Storage; since the 2014 independence referendum the North East of Scotland has been repeatedly promised that Westminster would invest millions in it.

    Rachel Reeves eventually announced funding for Carbon Capture & Storage … in Teesside and Merseyside. No Scottish Labour MP or MSP has even mentioned this slap in the face to Scotland.

    Is it any wonder Scots believe Anas Sarwar doesn’t stand up to Keir Starmer. It’s no wonder Scottish Labour’s vote is at its lowest level in three years.

    And what is Anas Sarwar’s latest move as we approach a Scottish election year? To say he is open to ‘good ideas’ from Nigel Farage’s Reform party.

    A party that would like to abolish the Scottish Parliament and privatise the NHS. The party of Brexit which has increased the cost-of-living creating less money for public services.

    And Anas Sarwar’s latest gambit just raises more questions about trust in Labour. He’s now pledging to protect SNP policies like free tuition, free prescriptions and the Scottish Child Payment.

    After months of accusing the SNP government of ’18 years of failure’ he’s now saying it has been 18 years of “successes”.

    But why should anyone trust what many see as a panicked announcement by Anas Sarwar?

    On several occasions Labour’s Holyrood group of MSPs have voted against SNP government budgets which contained those policies. Even now they are not supporting the SNP budget containing those policies.

    A previous Scottish Labour leader notoriously called those policies a ‘something for nothing‘ culture which should end.

    Anas Sarwar’s health spokesperson, Jackie Baillie, is on record as saying prescription charges should “absolutely” be abolished.

    As for tuition fees it was only in February 2024 that Sarwar’s finance spokesperson, Michael Marra, said backdoor tuition fees, like endowments, would have to be considered.

    Shortly after Labour MSPs voted with the Tories in Holyrood against free tuition.

    And let’s not forget the behaviour of Anas Sarwar’s boss, Keir Starmer. In 2020 he promised Labour members in the party leadership election that he would “support the abolition of tuition fees”.

    Yet by September 2023 he claimed it would be ‘impossible‘ to abolish tuition fees … despite the fact that is the reality in Scotland.

    And let’s not forget which party first introduced tuition fees – whose policy they ultimately are.

    Just weeks before the 1997 election Tony Blair pledged: “Labour has no plans to introduce tuition fees for higher education.”

    A year after taking power, Blair went ahead and introduced tuition fees.

    It all just shows how the people of Scotland don’t and can’t trust any promise by Scottish Labour. Like a branch office they will always follow their bosses in Westminster.

    There’s only one party that Scots can trust to stand up and speak for Scotland. Speak out about Westminster ignoring your communities when it comes to investment. To vote for the benefit of Scotland’s pensioners, families and workers – the SNP.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: NSU, together with the Gorchakov Fund, has opened the application process for an internship program for foreign specialists

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University – NSU, together with the Gorchakov Fund, has opened the application process for an internship program for foreign specialists in the areas of “Artificial Intelligence in Medicine” and “Modern Quantum and Information Technologies in Electronics and Photonics”.

    The last day to submit applications is March 20, 2024, 23:59 Moscow time.

    Date: June 1–29, 2025.

    Foreign specialists conducting scientific and practical activities in areas corresponding to the internship programs are allowed to participate in the competition.

    The organizers provide:

    travel from the applicant’s place of residence to Novosibirsk and back; accommodation for the entire period of the scientific and educational event; visa support; a stipend for the duration of the program in the amount of 30,000 rubles.

    Participants pay:

    medical insurance; meals for the duration of the scientific and educational school.

    Heads of scientific and educational directions:

    Artificial Intelligence in Medicine: Evgeny Nikolaevich Pavlovsky, Head of the Laboratory of Streaming Data Analytics and Machine Learning Faculty of Mechanics and Mathematics of NSU. Modern quantum and information technologies in electronics and photonics: Artur Grigorievich Pogosov, Head of the Department of General Physics Physics Department of NSU.

    For all questions please contact:Info@interossia.

    More detailed information about the program, conditions and registration form – on the InteRussia website. 

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Innovative approaches to urban development discussed at Polytechnic University

    Translartion. Region: Russians Fedetion –

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

    The Polytechnic University became the venue and co-organizer of the All-Russian scientific and practical conference “Innovative approaches in urban development: science, education, practice”. The event was organized jointly with the Committee for Urban Development Policy of the Leningrad Region and the Research Institute for Advanced Urban Development with the support of the Ministry of Construction and Housing and Communal Services of the Russian Federation, the Russian Academy of Architecture and Construction Sciences (RAASN) and the Government of the Leningrad Region. This large-scale event became a platform for constructive dialogue between representatives of government bodies, the scientific community and business structures.

    The conference participants were addressed with welcoming speeches by the First Deputy Minister of Construction and Housing and Utilities of the Russian Federation Alexander Lomakin, Director of the Department of Urban Development and Architecture of the Ministry of Construction of Russia Vladimir Kalinkin, President of the Russian Academy of Architecture and Construction Sciences (RAACS) Dmitry Shvidkovsky, Vice President of RAACS for Urban Development Mikhail Shubenkov, Deputy Chairman of the Government of the Leningrad Region for Construction and Housing and Utilities Evgeny Baranovsky, Special Representative of the Governor of St. Petersburg for Economic Development Anatoly Kotov and Chairman of the North-West Territorial Branch of the Russian Academy of Architecture and Construction Sciences (NWTO RAACS) Mikhail Mamoshin.

    The first day of the conference was devoted to the discussion of a comprehensive approach to master planning. Participants, including representatives of the Russian Ministry of Construction, RAASN, and businessmen shared their experiences and analyzed the use of master plans in the Leningrad Region.

    During the event, a cooperation agreement was signed between the Polytechnic University and the Leningrad Region Committee for Urban Development Policy. The signatures were put by SPbPU Rector Andrey Rudskoy and the Committee Chairman Igor Kulakov. The document is aimed at joint work, support for the project and scientific activities of students and university staff in the region’s municipalities, as well as for students to undergo educational practice at organizations in the Leningrad Region. Igor Kulakov noted that it is necessary to involve students in solving practical problems that the regional committee for urban development policy is working on.

    The plenary session was attended by representatives of the Ministry of Construction of Russia, the Russian Academy of Architecture and Construction Sciences (RAACS), the Committee for Urban Development Policy of the Leningrad Region (KGP LO), the Committee for Urban Development and Architecture of St. Petersburg, the Government of the Leningrad Region, the State Institution “Urban Development of Territories of the Leningrad Region”, the Research Institute of Urban Development, the Research Institute of Urban Planning of Moscow, St. Petersburg Polytechnic University, Moscow Architectural Institute, National Research University Moscow State University of Civil Engineering, St. Petersburg State University of Architecture and Civil Engineering, National Research University ITMO, RANEPA, as well as specialists from leading design organizations and architectural bureaus.

    Director of the Department of Urban Development and Architecture of the Ministry of Construction of Russia Vladimir Kalinkin presented a report entitled “Integration of Master Planning into Russian Legislation.”

    Master planning is a new tool that urban planning specialists will have to work with, noted Yevgeny Baranovsky, Deputy Chairman of the Leningrad Region Government for Construction and Housing and Public Utilities, in his speech.

    Director of the Civil Engineering Institute Marina Petrochenko and Director of the Higher School of Design and Architecture ISI Margarita Perkova spoke about the trends and prospects for the development of the Urban Planning direction at SPbPU.

    At the Polytechnic University, the priorities in student training are interdisciplinarity, digitalization in the industry and practical training, which is based on long-term cooperation agreements with industry government agencies and leading design bureaus and research institutes, Marina Vyacheslavovna emphasized.

    Chief Architect of the Leningrad Region, Associate Professor of the Higher School of Design ISI Sergey Lutchenko presented a report “Analysis of the Use of the Master Planning Tool in the Territory of the Leningrad Region”. Director of the Research Institute for Advanced Urban Development Pavel Spirin examined urban planning documentation as a tool for strategic development of the territory.

    The second day of the conference was held in an atmosphere of active exchange of experience and search for advanced solutions. Representatives of design organizations, leading universities of the country and authoritative experts discussed digitalization in urban development and architecture. Participants shared practical developments, prospects for the implementation of digital technologies and analyzed successful cases.

    The audience was interested in the report by the Director of the Institute of Historical and Cultural Heritage Marina Petrochenko, in which she, together with the Deputy Chairperson of the KGIOP of St. Petersburg Alexandra Komissarova, spoke about the experience of creating digital twins and the prospects for using technologies when working with cultural heritage sites.

    The topic of artificial intelligence was reflected in the report by Sergey Mityagin, Director of the Institute of Design and Urban Studies of the St. Petersburg National Research University of Information Technologies, Mechanics and Optics. Acting Director of the Research Institute of Urban Development Nadezhda Zykova presented a report entitled “The system of monitoring and digitalization of the master plan as a tool for integrated development of the territory”. Professor of RANEPA Revekka Vulfovich considered the problems of interaction between cities and rural areas during the development of master plans and strategic documents for the development of rural areas. Olga Druzina presented a report entitled “Draft revision of the Code of Practice 42.13330 “Urban Development. Planning and Development of Urban and Rural Settlements”.”

    Of particular interest was the panel discussion “Urban planning: science, education, practice”, moderated by Margarita Perkova, Director of the Higher School of Design and Architecture of the Institute of Civil Engineering. The speakers included Mikhail Shubenkov, Chairman of the Federal Educational and Methodological Association for the UGS “Architecture”, Ekaterina Voznyak, Dean of the Faculty of Architecture of St. Petersburg State University of Architecture and Civil Engineering, and Nina Danilina, Head of the Department of Urban Planning at Moscow State University of Civil Engineering. They shared their experience in training urban planners and their vision of the further development of higher education in urban planning. Academicians from Samara and Volgograd, Elena Akhmedova and Galina Ptichnikova, joined the discussion via videoconference.

    A highlight of the conference was the project session “Development of the fore-project “Concept of block development of the Leningrad region site” from the Setl Group holding. Four teams of polytechnic students together with leading architects and urban planners of St. Petersburg developed and presented their concepts of block development of the Leningrad region site. The project was prepared jointly with the Setl Group holding. The concepts were defended before an authoritative jury. The team led by the honored architect of the Russian Federation, corresponding member of the Russian Academy of Architecture and Construction Sciences Maxim Atayants won. All participants received memorable prizes from the holding.

    Setl Group has announced an open architectural competition to develop a concept for a residential quarter in the picturesque part of the village of Novosaratovka in the Vsevolozhsk district. The winner will have the opportunity to implement their project. 15 Russian architectural bureaus and workshops will offer ideas for creating a comfortable and modern environment until April 2. The selection of finalists by an expert council will last until April 10. The concepts will be defended and the winner will be announced on April 29.

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

    MIL OSI Russia News –

  • MIL-OSI Economics: Digital health adoption in China to accelerate with rapidly evolving AI landscape, says GlobalData

    Source: GlobalData

    Digital health adoption in China to accelerate with rapidly evolving AI landscape, says GlobalData

    Posted in Medical Devices

    The artificial intelligence (AI) sector in China is undergoing swift evolution, positioning it as a key driver for the expansion of the country’s digital health market. Accordingly, the digital health market in China is forecasted to grow at a compound annual growth rate (CAGR) of approximately 30% between 2024 and 2033, according to GlobalData, a leading data and analytics company.

    GlobalData’s report, “China Digital Health Market Outlook and Forecast to 2033 – Electronic Health Records, Regulatory Approved Apps and Telehealth,” reveals that in 2024, China accounted for approximately 20% of the digital health market in the Asia-Pacific (APAC) region. The considerable market share highlights the growing investments in AI-powered solutions and their increasing implementation in the healthcare industry.

    Pratibha Thammanabhatla, Medical Devices Analyst at GlobalData, comments, “The shift towards digital health represents a substantial advancement in conventional healthcare practices. These latest solutions possess the potential to improve convenience and accessibility for patients, especially in remote and resource-constrained environments. The increasing focus on preventive care and continuous health monitoring is anticipated to catalyze widespread adoption of these models.”

    Chinese firms such as DeepSeek, Panoptic AI, Tencent, and Alibaba are substantially investing in AI technologies. In the face of intensifying competition within China’s AI industry, Baidu has announced that its artificial intelligence chatbot, Ernie Bot, featuring an enhanced search function, would be accessible free of charge starting in April of this year. Given the availability of choices, the selection of a suitable model is imperative in healthcare applications to ensure that patients benefit from enhanced disease diagnosis and personalized treatment recommendations.

    Thammanabhatla concludes: “The growing utilization of digital health applications among the Chinese consumers, combined with significant investments from both private and public sectors including the latest National AI Industry Investment Fund, is anticipated to further propel innovations in the forthcoming years. This trend also suggests the possibility of considerable investment opportunities within China’s digital health industry.”

    MIL OSI Economics –

  • MIL-OSI Economics: AI-driven virtual care innovations will continue to gain traction to navigate workforce challenges, says GlobalData

    Source: GlobalData

    AI-driven virtual care innovations will continue to gain traction to navigate workforce challenges, says GlobalData

    Posted in Medical Devices

    With healthcare facilities facing staff shortages and increased patient loads, innovative AI-driven solutions are becoming a necessity. Solutions from companies like Vitalacy, Current Health, and Care.ai, are leveraging artificial intelligence (AI), sensor technology, and real-time monitoring to enhance patient safety and optimize hospital efficiency. As such, AI-driven healthcare innovations will continue to gain traction, helping providers navigate workforce challenges while delivering improved outcomes, according to GlobalData, a leading data and analytics company.

    GlobalData’s latest report, “AI in Healthcare: A Strategic Imperative to Enhance Efficiency and Patient Care”, reveals that approximately 30% of global data is generated in hospitals, of which a staggering 90% remains unused. The report highlights the growing reliance on AI-powered solutions to address critical healthcare challenges, including fall prevention, patient elopement, and staff burnout.

    Vitalacy’s newest AI-powered Virtual Care system is revolutionizing patient monitoring by minimizing fall hazards and easing the burden on caregivers. It leverages advanced AI, stereo cameras, and real-time monitoring to enhance patient safety.

    Kamilla Kan, Senior Data Scientist at GlobalData SKU Team, comments: “Vitalacy’s Virtual Care platform integrates AI learning with stereo camera depth perception to significantly reduce false alerts and allow timely interventions. This advanced approach enhances accuracy, making it a game-changer for patient monitoring.”

    According to GlobalData forecasts, the Remote Patient Monitoring (RPM) market will reach $760 million by 2030, up from $548.9 million in 2020 with a compound annual growth rate (CAGR) of 3.3% over the period.

    Kan continues: “As AI continues to revolutionize healthcare, virtual care solutions from companies like Vitalacy, Care.ai, and Current Health are setting new standards for efficiency, safety, and patient-centric care. These advancements reflect a broader industry trend towards automation and real-time intervention capabilities.”

    MIL OSI Economics –