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Category: Machine Learning

  • MIL-OSI Asia-Pac: The Journey of UDAN: Soaring Towards Inclusivity in Indian Aviation

    Source: Government of India

    Posted On: 20 OCT 2024 11:35AM by PIB Delhi

    “A common man who travels in slippers, should also be seen in the aircraft. This is my dream.”

    – Prime Minister Narendra Modi

    In a country where the sky often symbolizes hope and aspiration, the dream of flying has remained an elusive luxury for many. This dream began to take shape with the launch of the Regional Connectivity Scheme (RCS) – UDAN, or “Ude Desh ka Aam Nagrik,” on October 21, 2016. Spearheaded by the Ministry of Civil Aviation (MoCA), UDAN aims to enhance regional air connectivity from unserved and underserved airports across India, making air travel affordable for the masses. As it celebrates its seventh anniversary, UDAN stands as a testament to the commitment of the Indian government to improve infrastructure and connectivity, especially in remote regions.

    The Dream Takes Flight

    The story of UDAN is deeply rooted in the vision of Prime Minister Shri Narendra Modi, who in a pivotal meeting before the National Civil Aviation Policy was announced, emphasised the need to democratize air travel. He famously remarked that he wanted to see people wearing slippers boarding planes, a sentiment that ignited the vision for a more inclusive aviation sector. This commitment to the common man’s dreams led to the birth of UDAN.

    The first UDAN flight took off on April 27, 2017, connecting the serene hills of Shimla to the bustling metropolis of Delhi. This inaugural flight marked the beginning of a transformative journey in Indian aviation, one that would open up the skies to countless citizens.

    UDAN operates on a market-driven model, where airlines assess demand on specific routes and submit proposals during bidding rounds. The scheme incentivizes airlines to connect underserved regions by offering them support through Viability Gap Funding (VGF) and various concessions provided by airport operators, the Central Government, and State Governments.

    The government has implemented several supportive measures to attract airlines to operate flights in less lucrative markets:

    • Airport Operators: They waive landing and parking charges for RCS flights, and the

    Airports Authority of India (AAI) does not levy Terminal Navigation Landing Charges (TNLC) on these flights. Moreover, a discounted Route Navigation and Facilitation Charge (RNFC) is applied.

    • Central Government: For the first three years, excise duty on Aviation Turbine Fuel

    (ATF) purchased at RCS airports capped at 2%. Airlines are also encouraged to enter code-sharing agreements to expand their reach.

    • State Governments: States have committed to reducing VAT on ATF to 1% or less for ten years and providing essential services such as security, fire services, and utility services at reduced rates.

    This collaborative framework has fostered an environment where airlines can thrive while serving regions that have long been overlooked.

    The RCS-UDAN scheme has played a pivotal role in revitalising the civil aviation industry in India. Over the past seven years, it has catalysed the emergence of many new and successful airlines. Regional carriers such as Flybig, Star Air, IndiaOne Air, and Fly91 have benefited from the scheme, developing sustainable business models and contributing to a burgeoning ecosystem for regional air travel.

    The incremental expansion of the scheme has also generated a rising demand for new aircraft of all sizes, broadening the spectrum of planes deployed on RCS routes. This includes a diverse fleet, featuring the Airbus 320/321, Boeing 737, ATR 42 and 72, DHC Q400, Twin Otter, Embraer 145 and 175, Tecnam P2006T, Cessna 208B Grand Caravan EX, Dornier 228, Airbus H130, and Bell 407. Notably, Indian carriers have placed orders for over 1,000 aircraft slated for delivery in the next 10-15 years, significantly augmenting the existing fleet of approximately 800 planes.

    RCS-UDAN is not solely dedicated to offering last-mile connectivity to tier-2 and tier-3 cities; it also stands as a prominent contributor to the burgeoning tourism sector. Initiatives like UDAN 3.0 have introduced tourism routes connecting several destinations in the Northeast region, while UDAN 5.1 is focused on expanding helicopter services in hilly areas to stimulate tourism, hospitality, and local economic growth.

    Significant destinations like Khajuraho, Deoghar, Amritsar, and Kishangarh (Ajmer) are now more accessible, catering to the religious tourism segment. Furthermore, the introduction of airports in Pasighat, Ziro, Hollongi, and Tezu has spurred growth in the Northeast’s tourism industry. Notably, Agatti Island has also been included in the Indian aviation map, enhancing tourism in Lakshadweep.

    From Mundra in Gujarat to Tezu in Arunachal Pradesh, and Kullu in Himachal Pradesh to Salem in Tamil Nadu, RCS-UDAN has connected 34 states and Union Territories across the country. A total of 86 aerodromes have been operationalized under UDAN, including ten in the Northeast region and two heliports. Airports like Darbhanga, Prayagraj, Hubli, Belgaum, and Kannur are becoming increasingly sustainable, with many non-RCS commercial flights operating from these locations.

    • Darbhanga Airport (Civil Enclave): Once off the aviation map, Darbhanga celebrated the arrival of its first flight from Delhi on November 9, 2020. This airport now serves as a gateway for 14 districts in North Bihar, connecting to major cities like Delhi, Mumbai, Hyderabad, and Kolkata, and handling over 5 lakh passengers in FY 2023-24.
    • Jharsuguda Airport (AAI Airport): Previously a dilapidated WWII airstrip,

    Jharsuguda became operational in March 2019, serving as the second airport in Odisha. It now connects the region to Delhi, Kolkata, Bengaluru, and Bhubaneswar, with over 2 lakh passengers in FY 2023-24.

    • Pithoragarh Airport: Nestled in the Himalayas, this airport was identified for RCS

    operations in 2018 and began service in January 2019. Currently, it connects to Dehradun and Pantnagar, showcasing its strategic importance.

    • Tezu Airport: Known for its scenic beauty and religious significance, Tezu airport

    commenced RCS operations in August 2021. It connects Guwahati, Jorhat, and Dibrugarh, accommodating approximately 12,000 passengers in FY 2023-24.

    The Indian aviation landscape has undergone a significant transformation under the UDAN scheme. 601 routes, including helicopter routes, have been operationalized, effectively connecting states and Union Territories. Notably, around 28% of these routes serve the remotest locations, enhancing accessibility across challenging terrains.

    The number of operational airports in the country has doubled from 74 in 2014 to 157 in 2024 and the aim is to increase this number to 350-400 by 2047. The domestic air passengers have more than doubled in the past decade, with Indian airlines significantly expanding their fleets.

    A total of 86 aerodromes—comprising 71 airports, 13 heliports, and 2 water aerodromes— have been operationalized, facilitating the travel of over 1.44 crore passengers across more than 2.8 lakh flights. Since its inception, fixed-wing operations have cumulatively covered approximately 112 crore kilometres, roughly equivalent to circumnavigating the globe around 28,000 times.

    UDAN is not just a scheme; it is a movement aimed at empowering every Indian with the gift of flight. Enhancing regional connectivity and ensuring affordability has fulfilled countless citizens’ aspirations while stimulating economic growth and job creation. As UDAN continues to evolve, it holds the promise of transforming India’s aviation landscape, ensuring that the sky truly is everyone’s limit. With its ongoing commitment to connecting underserved regions and promoting tourism, the UDAN scheme remains a game changer for Indian aviation, contributing significantly to India’s vision of a connected and prosperous nation.

    Reference:

    h t t p s : / / p i b . g o v . i n / P r e s s R e l e a s e I f r a m e P a g e . a s p x ? PRID=2004057#:~:text=Ministry%20of%20Civil%20Aviation%20(MoCA,is%20a%20market%20dri ven%20scheme.

    https://http://www.civilaviation.gov.in/sites/default/files/migration/Udaan_Eng.pdf https://pib.gov.in/PressNoteDetails.aspx?NoteId=152143&ModuleId=3&reg=3&lang=1 Press Release: Press Information Bureau (pib.gov.in)

    Click here to download PDF

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    Santosh Kumar/ Ritu Kataria/ Ishita Biswas

    (Release ID: 2066445) Visitor Counter : 14

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Minister Shri Shivraj Singh Chouhan to inaugurate International Workshop on Modern Technologies in Survey-Resurvey for Urban Land Records on 21st October 2024 in New Delhi

    Source: Government of India

    Posted On: 20 OCT 2024 11:26AM by PIB Delhi

    Union Minister of Rural Development Shri Shivraj Singh Chouhan will inaugurate International Workshop on Modern Technologies in Survey-Resurvey for Urban Land Records on 21st October 2024 at Dr. Ambedkar International Centre (DAIC), New Delhi. The Department of Land Resources is organising this workshop. The inaugural session will include addresses from Union Minister of Rural Development Shri Shivraj Singh Chouhan,  Secretary, Department of Land Resources Shri Manoj Joshi will deliver the keynote address during inaugural session.

    The workshop will unfold over two days. The first day will feature an inaugural session led by the Union Minister Shri Shivraj Singh Chouhan  followed by presentations from experts from countries like Singapore, Korea, the UK, Spain, and the Netherlands, highlighting best practices in digital land records. There will also be a technology showcase and exhibition by leading Indian and international firms. On the second day, the agenda includes two plenary sessions: the first focusing on case studies of state urban land records and management from Karnataka, Madhya Pradesh, Tamil Nadu, and Maharashtra, and the second examining case studies from various schemes and departments in survey techniques and spatial data, including AMRUT, SMART CITIES, SVAMITVA, Haryana Space Applications Centre, IT & Communication (Jaipur), and Directorate General Defence Estates.

    Expected outcomes from the workshop include the formulation of a national program for urban land record modernization, design plans for pilot projects in selected cities, and strategies for capacity building among urban local bodies (ULBs) and state officials. Furthermore, the workshop aims to generate policy recommendations for integrating modern technologies into urban land governance, ensuring improved efficiency and transparency in land management systems. This concept note sets the stage for collaboration and innovation in improving urban land records through the application of cutting-edge technology.

    Urban land records in India face significant challenges due to fragmentation, outdated information, and maintenance across multiple agencies. These issues hinder effective urban planning, land management, and service delivery. In response, the Government of India is exploring innovative technological solutions to modernize urban land records, building on progress achieved in rural areas. Key technologies such as geospatial tools, satellite imagery, drone surveys, and GIS integration are essential for creating comprehensive, spatially enabled land ownership records. The modernization of urban land records is expected to enhance transparency and efficiency, supporting sustainable development and reducing land-related disputes.

    The workshop aims to bring together relevant stakeholders, including Ministries and Departments of the Government of India, Revenue and Urban Development Secretaries from States/UTs, International experts, and Technology Providers. The primary objectives of the workshop are to showcase global best practices in urban land record modernization, present applicable technological solutions, and facilitate pilot project planning for selected urban areas. Additionally, the workshop will address challenges such as lack of standardization, data security, and capacity building for stakeholders, while promoting collaboration among government officials, experts, and technology providers to develop actionable policy recommendations.

    *****

    SS

    (Release ID: 2066444) Visitor Counter : 53

    MIL OSI Asia Pacific News –

  • MIL-OSI: Leading Independent Proxy Advisory Firm ISS Issues New Recommendation in Support of Territorial/Hope Bancorp Combination

    Source: GlobeNewswire (MIL-OSI)

    ISS Recommends Territorial Shareholders Vote “FOR” Hope Bancorp Transaction

    ISS Recognizes Value Creation Upside of the Hope Bancorp Merger and Risks and Uncertainty Associated with Blue Hill’s Preliminary Indication of Interest

    Territorial Board Urges Shareholders to Follow ISS’s Recommendation and Vote “FOR” the Hope Bancorp Merger Today

    HONOLULU, Oct. 21, 2024 (GLOBE NEWSWIRE) — Territorial Bancorp Inc. (NASDAQ: TBNK) (“Territorial” or the “Company”) today announced that leading independent proxy advisory firm Institutional Shareholder Services (“ISS”) has reissued its report assessing Territorial’s proposed merger with Hope Bancorp, Inc. (NASDAQ: HOPE) (“Hope Bancorp”).

    In its report, ISS recommends that Territorial shareholders vote “FOR” the Company’s pending merger with Hope Bancorp at the Special Meeting on November 6, 2024, at 8:30 a.m., Hawai‘i Time.

    The Territorial Board of Directors also unanimously recommends that all Territorial shareholders vote “FOR” the Hope Bancorp agreement.

    Commenting on the report, Territorial issued the following statement:

    The Hope Bancorp merger is the only transaction that provides realizable value and substantial upside for Territorial shareholders. This tax-free transaction also enables our shareholders to benefit from a more than 1000% increase to Territorial’s standalone dividend. Accordingly, we strongly urge all Territorial shareholders to vote FOR the transaction today.

    ISS’s report recognizes the risks and uncertainty associated with Blue Hill’s preliminary indication of interest, including a lack of financing, failure to identify the entities behind Blue Hill and questionable ability to execute the indication of interest. These deficiencies support our belief that Blue Hill does not have the ability to complete a transaction with Territorial or to obtain the necessary regulatory approvals for the transaction in a timely manner.

    In making its recommendation, ISS stated in its October 18, 2024, reporti:

    • “A merger with HOPE is arguably a better outcome for TBNK than remaining standalone, given the strategic rationale for the combination and the issues facing the company”
    • “we find that the board’s caution [regarding Blue Hill] appears to have a reasonable basis. The request for evidence of committed financing and increased disclosure regarding the consortium, in particular, seem to be low hanging fruit that Blue Hill could provide to address these concerns.”
    • “In our engagement with the company, the board expressed a willingness to engage with Blue Hill if its concerns could be properly addressed in order to best protect shareholders.”
    • “It is unclear at this point why Blue Hill has not provided the board the details it has asked for.”

    Time is short. The Special Meeting is fast approaching. Territorial shareholders are urged to follow the recommendations from ISS and the Territorial Board by voting today FOR the transaction with Hope Bancorp.


    YOUR VOTE IS IMPORTANT NO MATTER HOW MANY OR HOW FEW SHARES YOU OWN!

    Please take a moment to vote FOR the proposals set forth on the enclosed proxy card — by Internet, telephone toll-free or by signing, dating and returning the enclosed proxy card or voting instruction form. Vote well in advance of the Special Meeting on November 6, 2024, at 8:30 a.m. Hawaiʻi Time.

    If you have questions about how to vote your shares, please contact:

    Laurel Hill Advisory Group

    Call toll-free: (888) 742-1305
    Banks and brokers should call: (516) 933-3100


    About Us

    Territorial Bancorp Inc., headquartered in Honolulu, Hawaiʻi, is the stock holding company for Territorial Savings Bank. Territorial Savings Bank is a state-chartered savings bank which was originally chartered in 1921 by the Territory of Hawaiʻi. Territorial Savings Bank conducts business from its headquarters in Honolulu, Hawaiʻi, and has 28 branch offices in the state of Hawaiʻi. For additional information, please visit https://www.tsbhawaii.bank/.

    Additional Information about the Hope Merger and Where to Find It

    In connection with the proposed Hope Merger, Hope has filed with the U.S. Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4, containing the Proxy Prospectus, which has been mailed or otherwise delivered to Territorial’s stockholders on or about August 29, 2024, as supplemented September 12, 2024. Hope and Territorial may file additional relevant materials with the SEC. INVESTORS AND STOCKHOLDERS ARE URGED TO READ THE PROXY PROSPECTUS, AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR FURNISHED OR WILL BE FILED OR FURNISHED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. You may obtain any of the documents filed with or furnished to the SEC by Hope or Territorial at no cost from the SEC’s website at http://www.sec.gov.

    Forward-Looking Statements

    Some statements in this news release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, expectations regarding the low-cost core deposit base, diversification of the loan portfolio, expansion of market share, capital to support growth, strengthened opportunities, enhanced value, geographic expansion, and statements about the proposed transaction being immediately accretive. Forward-looking statements include, but are not limited to, statements preceded by, followed by or that include the words “will,” “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates” or similar expressions. With respect to any such forward-looking statements, Territorial Bancorp claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. Hope Bancorp’s actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. The closing of the proposed transaction is subject to regulatory approvals, the approval of Territorial Bancorp stockholders, and other customary closing conditions. There is no assurance that such conditions will be met or that the proposed merger will be consummated within the expected time frame, or at all. If the transaction is consummated, factors that may cause actual outcomes to differ from what is expressed or forecasted in these forward-looking statements include, among things: difficulties and delays in integrating Hope Bancorp and Territorial Bancorp and achieving anticipated synergies, cost savings and other benefits from the transaction; higher than anticipated transaction costs; deposit attrition, operating costs, customer loss and business disruption following the merger, including difficulties in maintaining relationships with employees and customers, may be greater than expected; and required governmental approvals of the merger may not be obtained on its proposed terms and schedule, or without regulatory constraints that may limit growth. Other risks and uncertainties include, but are not limited to: possible further deterioration in economic conditions in Hope Bancorp’s or Territorial Bancorp’s areas of operation or elsewhere; interest rate risk associated with volatile interest rates and related asset-liability matching risk; liquidity risks; risk of significant non-earning assets, and net credit losses that could occur, particularly in times of weak economic conditions or times of rising interest rates; the failure of or changes to assumptions and estimates underlying Hope Bancorp’s or Territorial Bancorp’s allowances for credit losses; potential increases in deposit insurance assessments and regulatory risks associated with current and future regulations; the outcome of any legal proceedings that may be instituted against Hope Bancorp or Territorial Bancorp; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of either or both parties to the proposed transaction; and diversion of management’s attention from ongoing business operations and opportunities. For additional information concerning these and other risk factors, see Hope Bancorp’s and Territorial Bancorp’s most recent Annual Reports on Form 10-K. Hope Bancorp and Territorial Bancorp do not undertake, and specifically disclaim any obligation, to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.   

    Investor / Media Contacts:
    Walter Ida
    SVP, Director of Investor Relations
    808-946-1400
    walter.ida@territorialsavings.net

    i Permission to use quotes neither sought nor obtained

    The MIL Network –

  • MIL-OSI: Beamr to Present at the ThinkEquity Conference

    Source: GlobeNewswire (MIL-OSI)

    Herzliya, Israel, Oct. 21, 2024 (GLOBE NEWSWIRE) — Beamr Imaging Ltd. (NASDAQ: BMR), a leader in video optimization technology and solutions, today announced the Company will present at the following investor conference:

    Event: The ThinkEquity Conference
    Date: October 30, 2024
    Time: 10:30 am ET
    Location: New York, NY
    Presenters: Sharon Carmel, Founder and Chief Executive Officer
      Danny Sandler, Chief Financial Officer

    Beamr Investors website: https://www.investors.beamr.com/

    About Beamr

    Beamr (Nasdaq: BMR) is a world leader in content-adaptive video optimization and modernization. The company serves top media companies like Netflix and Paramount. Beamr’s inventive perceptual optimization technology (CABR) is backed by 53 patents and won the Emmy® award for Technology and Engineering. The innovative technology reduces video file size by up to 50% while guaranteeing quality.

    Beamr Cloud is a high-performance, GPU-based video optimization and modernization service designed for businesses and video professionals across diverse industries. It is conveniently available to Amazon Web Services (AWS) and Oracle Cloud Infrastructure (OCI) customers. Beamr Cloud enables video modernization to advanced formats such as AV1 and HEVC, and is ready for video AI workflows. For more details, please visit http://www.beamr.com 

    Forward-Looking Statements

    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. Forward-looking statements in this communication may include, among other things, statements about Beamr’s strategic and business plans, technology, relationships, objectives and expectations for its business, the impact of trends on and interest in its business, intellectual property or product and its future results, operations and financial performance and condition. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report filed with the SEC on March 4, 2024, and in subsequent filings with the SEC. Forward-looking statements contained in this announcement are made as of the date hereof, and the Company undertakes no duty to update such information except as required under applicable law.                                  

     Investor Contact:

    investorrelations@beamr.com

    The MIL Network –

  • MIL-OSI: Amplify ETFs Announces the Amplify Bloomberg AI Value Chain ETF (NYSE: AIVC)

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Oct. 21, 2024 (GLOBE NEWSWIRE) — Amplify ETFs announces its newly appointed fund, the Amplify Bloomberg AI Value Chain ETF (NYSE: AIVC). In an equal-weighted index approach, AIVC invests in a global mix of semiconductor, cloud/software and hardware companies that form the foundation of artificial intelligence (AI) technologies through the Bloomberg AI Value Chain Index.

    According to forecasts, the global AI market is expected to grow from $638 billion in 2024 to $3.6 trillion by 2034.1 This growth will be driven by increased AI spending across the private sector, government initiatives and individuals. AIVC is positioned to capture these trends through its unique AI value chain focus.

    AIVC uses an equal-weighted rules-based approach alongside insights from Bloomberg Intelligence analysts to identify companies that are essential to the AI ecosystem. Technologies like generative AI, machine learning, natural language processing and AI infrastructure all rely on semiconductors, hardware, and cloud software systems to operate.

    “AI is fundamentally reshaping industries worldwide and AIVC provides investors with diverse exposure to companies that are the backbone of this industry,” said Christian Magoon, CEO of Amplify ETFs. “Our new focus on AI and its value chain aligns this fund with one of the most compelling growth themes of the next decade.”

    AIVC tracks the Bloomberg AI Value Chain Index, which identifies the top 45 companies integral to AI categorized into semiconductors, hardware, and software/cloud systems. These sectors are the backbone of the AI landscape, enabling the widespread adoption of AI solutions globally. The index is powered by Bloomberg Intelligence (BI) Research, a renowned group of 400+ research professionals across 21 markets. The BI team utilizes proprietary research to evaluate data and trends for creating thematic index baskets.

    The announcement of AIVC is the result of name, fee and strategy changes to the Amplify Global Cloud Technology ETF (IVES). No action is required by current shareholders as a result of this change. These changes were previously communicated via a supplement to the IVES Summary Prospectus, Statutory Prospectus and Statement of Additional Information (“SAI”), as published on August 15, 2024.

    Investors can learn more about AIVC at AmplifyETFs.com/AIVC.

    About Amplify ETFs
    Amplify ETFs, sponsored by Amplify Investments, has over $10 billion in assets across its suite of ETFs (as of 10/11/2024). Amplify ETFs delivers expanded investment opportunities for investors seeking growth, income, and risk-managed strategies across a range of actively managed and index-based ETFs.

    1https://www.precedenceresearch.com/artificial-intelligence-market

    Carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. This and other information can be found in the Fund’s statutory and summary prospectuses, which may be obtained at AmplifyETFs.com. Read the prospectus carefully before investing.

    Investing involves risk, including the possible loss of principal. There can be no assurance that the Fund’s investment objectives will be achieved. Investments concentrated in specific industries, sectors, markets, or asset classes may underperform or experience greater volatility than the general securities market.

    Investments in artificial intelligence or cloud technology companies are exposed to risks such as small markets, technological obsolescence, and government regulation. These companies, especially smaller ones, are more volatile and susceptible to adverse events in specific regions or industries.

    International investing entails risks related to foreign currency, limited liquidity, less government regulation, and potential volatility from political, economic, or other developments, particularly in emerging markets and concentrated investments in single countries.

    Investment Adviser: Amplify Investments LLC; Sub-Adviser: Penserra Capital Management LLC

    Amplify ETFs are distributed by Foreside Fund Services, LLC.

    The MIL Network –

  • MIL-OSI: Mercury Selected by NAVAIR To Continue To Provide Advanced Data Transfer Systems for Navy Aircraft

    Source: GlobeNewswire (MIL-OSI)

    ANDOVER, Mass., Oct. 21, 2024 (GLOBE NEWSWIRE) — Mercury Systems, Inc. (NASDAQ: MRCY, http://www.mrcy.com), a technology company that delivers mission-critical processing power to the edge, today announced it was awarded a five-year contract worth as much as $131.3 million from the U.S. Naval Air Systems Command (NAVAIR) to continue providing secure data transfer systems for naval aircraft.

    Mercury has been delivering Advanced Data Transfer Systems (ADTS) and components to the Navy since 2017 to support numerous rotary-wing and fixed-wing aircraft. These rugged, flexible, and proven systems simplify the secure transfer of data between planners on the ground and aircraft, significantly improving operational readiness of these airborne assets. The new indefinite delivery/indefinite quantity contract will allow Mercury to deliver upgraded power-thrifty ADTS units that incorporate the company’s JDAR encryption module.

    “Mercury has a strong partnership with the Navy, providing a range of data storage and transfer, video recorders, mission computers, and cockpit displays for the aircraft fleet,” said Roya Montakhab, Mercury’s SVP of Integrated Processing Solutions. “We are exceptionally proud to continue delivering ADTS systems that ensure critical government data is protected.”

    Mercury’s ADTS features:

    • Up to 3 TB (3 x 1 TB) solid state memory modules (each module available from 128 GB, 256 GB, or 1 TB) with up to 450/300 MB/s read/write transfer rates
    • Optional crash survivable memory module: Up to 30 GB of storage
    • 1 SATA port: optional for crash survivable flight data recorder
    • Up to 250ms of response time
    • MIL-STD-1553B, four 1,000 BASE-TX Gigabit ethernet, analog/digital video/audio, and discrete interfaces
    • External command over external communications circuit
    • Manual zeroize capabilities: via front panel switch
    • Meets information assurance requirements (S&U)

    Mercury Systems – Innovation that matters® 
    Mercury Systems is a technology company that delivers mission-critical processing power to the edge, making advanced technologies profoundly more accessible for today’s most challenging aerospace and defense missions. The Mercury Processing Platform allows customers to tap into innovative capabilities from silicon to system scale, turning data into decisions on timelines that matter. Mercury’s products and solutions are deployed in more than 300 programs and across 35 countries, enabling a broad range of applications in mission computing, sensor processing, command and control, and communications. Mercury is headquartered in Andover, Massachusetts, and has 23 locations worldwide. To learn more, visit mrcy.com. (Nasdaq: MRCY) 

    Forward-Looking Safe Harbor Statement 
    This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the Company’s focus on enhanced execution of the Company’s strategic plan. You can identify these statements by the words “may,” “will,” “could,” “should,” “would,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable,” “potential,” and similar expressions. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, continued funding of defense programs, the timing and amounts of such funding, general economic and business conditions, including unforeseen weakness in the Company’s markets, effects of any U.S. federal government shutdown or extended continuing resolution, effects of geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in or cost increases related to completing development, engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, changes in, or in the U.S. government’s interpretation of, federal export control or procurement rules and regulations, changes in, or in the interpretation or enforcement of, environmental rules and regulations, market acceptance of the Company’s products, shortages in or delays in receiving components, supply chain delays or volatility for critical components, production delays or unanticipated expenses including due to quality issues or manufacturing execution issues, capacity underutilization, increases in scrap or inventory write-offs, failure to achieve or maintain manufacturing quality certifications, such as AS9100, the impact of supply chain disruption, inflation and labor shortages, among other things, on program execution and the resulting effect on customer satisfaction, inability to fully realize the expected benefits from acquisitions, restructurings, and operational efficiency initiatives or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, effects of shareholder activism, increases in interest rates, changes to industrial security and cyber-security regulations and requirements and impacts from any cyber or insider threat events, changes in tax rates or tax regulations, changes to interest rate swaps or other cash flow hedging arrangements, changes to generally accepted accounting principles, difficulties in retaining key employees and customers, litigation, including the dispute arising with the former CEO over his resignation, unanticipated costs under fixed-price service and system integration engagements, and various other factors beyond our control. These risks and uncertainties also include such additional risk factors as are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 28, 2024 and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made.

    INVESTOR CONTACT
    David Williams
    Mercury Investor Relations
    David.Williams@mrcy.com

    MEDIA CONTACT
    Turner Brinton
    Senior Director, Corporate Communications
    Turner.Brinton@mrcy.com

    The MIL Network –

  • MIL-OSI Asia-Pac: Department of Agriculture and Farmers Welfare organized National Conference on Agriculture – Rabi Campaign 2024

    Source: Government of India (2)

    Department of Agriculture and Farmers Welfare organized National Conference on Agriculture – Rabi Campaign 2024

    Government of India will work collaboratively on every suggestion given by the Ministers and State representatives : Shri Shivraj Singh Chouhan

    Posted On: 19 OCT 2024 7:02PM by PIB Delhi

    With an objective to review and assess the crop performance during the preceding crop seasons and fix crop-wise targets for rabi season, the Union Minister of Agriculture, Shri Shivraj Singh Chouhan inaugurated National Conference on Agriculture for Rabi Campaign 2024 to at NASC Complex, New Delhi. The conference aimed to promote discussions among all stakeholders about innovative agricultural practices and digital initiatives to ensure smooth supply of essential Agri-inputs and support adoption of state-of-the-art technologies, thereby enhancing crop production and productivity.

     

    Addressing the Conference, Shri Shivraj Singh Chouhan said, “We need to move towards organic and natural farming to increase productivity and reduce dependency on chemicals and fertilizers. The aim is to increase per hectare yield while reducing the cost of production and offering genuine prices to the farmers.” A committee has been constituted to reduce the cost of transportation to reduce the gap between the procurement price and sale price. The States in collaboration with Centre need to work on increasing production based on Agro-climatic conditions to make India the largest food basket for the world. The national target of food grain production in 2024-25 will be 341.55 million tonnes. He assured that the Government of India will work collaboratively on every suggestion given by the Ministers and State representatives.

     

    At the conference, Shri Ramnath Thakur, Minister of State (Agriculture) requested the States to take immediate action to help farmers affected by crop damage due to floods and cyclone. The Senior Officers and Researchers need to assess the quality of Agri-inputs circulated in the market.

    The Minister of State (Agriculture), Shri Bhagirath Choudhary expressed his gratitude to research organizations for continuously working towards making the country self-reliant in production of pulses and oilseeds.

     

    The conference welcomed esteemed panelists from State Governments for interactive sessions on crucial topics covering enhancing productivity of oilseeds and pulses, clean plant programme, digital platforms like National Pest Surveillance System (NPSS) and Integrated Pesticide Management System (IPMS), DPIs under Digital Agriculture Mission and Seed Authentication, Traceability & Holistic Inventory (SATHI) portal.

    During the discussions, it was highlighted that to meet the increasing demand of edible oil in the country and to become self-reliant, the Government aims at increasing the production of oilseeds from 39.2 MMT in 2022-23 to 69.7 MMT in 2030-31, increase area under cultivation from existing 29 mha to 33 mha and improve yield from 1353 kg/ha to 2112 kg/ha by 2030-31. The panelists emphasized on the importance of conducting research on short-duration, high-yielding seed varieties and implementing comprehensive mechanization for the cultivation of pulses and oilseeds.

    The conference showcased the recent Agri-Tech initiatives of the Ministry for ensuring quality of agri-inputs and proactive pest management strategies. NPSS provides a nationwide view for predicting, planning, and managing pest and disease infestations and plays a pivotal role in protecting agricultural yields and promoting sustainable farming practices. Further, the role of IPMS to tackle the complaints / issues related to shortage of supply and misbranding of pesticides, real time monitoring of issuance of licenses, faceless and traceless quality assurance system using unique QR codes was highlighted. Likewise, the SATHI portal is a complete and integrated solution to encompass all the activities involved in production, inspection, processing, packing, tagging and disposal of all kinds of seeds ranging from Breeder, Foundation, Certified, TL seed.

    In the session on Digital Agriculture, the panelists deliberated on recently approved Digital Agriculture Mission, an umbrella scheme to support various Digital Public Infrastructure (DPI) initiatives for Agriculture and Special Centre Assistance to States for Capital Investment. The Mission focuses on enabling a convergent DPI ecosystem that enables farmer-centric solutions using integrated registries through AgriStack and providing various advisories through Krishi Decision Support System.

    The panelists also discussed on the need for regulations to ensure import of disease-free planting materials in case of fruits and orchids. The Clean Plant Programme will work to resolve such issues and produce, maintain and distribute pathogen-tested propagative material using therapeutic processes to clean plants.

    While responding on various sessions in Conference, the state representatives have responded the following (a)for Agriculture, holistic approach needs to be adopted, (b) Mechanization  is needed for  Oilseeds and Pulses, Good Quality seeds are required, (c) Private sector be encouraged to Research (d) Specialized project from ICAR (e) For CPP, attention on soil is required and support to private sector is welcome (f) For IPMS, AI Chatbot/advisory would be more efficient if it is in audio form.

    Addressing the Conference, Dr. Devesh Chaturvedi, Secretary Agriculture instructed the States to ensure completion of farmer registry for all farmers in the State by 31st March 2025 in camp mode to enable farmers to avail benefit of PM-KISAN. He also highlighted on the need for increasing the productivity of oilseeds and pulses. A check needs to be placed on overdosing of pesticides, circulation of spurious pesticides and seeds in the market. He urged States to ensure use of applications like NPSS, IPMS and SATHI and spread awareness in their respective States.

    Sh. Rajat Kumar Mishra, Secretary Fertilizer emphasized on use of drones for nano urea and crop monitoring. Dr. Himanshu Pathak, Secretary (DARE) and DG (ICAR) requested States to increase use of bio-fortified seeds, use of new variety and climate resilient seeds and seed replacement for increasing the productivity.

    This was followed by an interaction session with Hon’ble Ministers and Senior Officers of the States to raise issues concerning their states for increasing area coverage, yield, production and productivity in their States. The Agriculture Ministers from States raised their issues in relation to farmers and requested the Government of India to work on resolution. They also made some suggestions for betterment of agriculture and farmers.

    The Conference had participation from various Ministries, representatives from State Governments / Union Territories and other organizations. Through interactive sessions, the conference facilitated a comprehensive dialogue that would lead to actionable strategies for the upcoming rabi season.

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  • MIL-OSI Asia-Pac: PM launches ‘Karmayogi Saptah’ – National Learning Week

    Source: Government of India (2)

    PM launches ‘Karmayogi Saptah’ – National Learning Week

    New learnings during the National Learning Week will help in achieving our goal of Viksit Bharat by 2047: PM

    PM stresses on the need for innovative thinking and following a citizen-centric approach

    PM urges Civil services training institutions to communicate, learn from each other and adopt global best practices

    Successfully utilising Artificial Intelligence to drive progress for Aspirational India could lead to transformative change: PM

    Posted On: 19 OCT 2024 6:57PM by PIB Delhi

    Prime Minister Shri Narendra Modi launched the ‘Karmayogi Saptah’ – National Learning Week at Dr Ambedkar International Centre in New Delhi today. 

    Addressing the gathering, the Prime Minister said that through Mission Karmayogi our goal is to create human resources that would become the driving force of our country’s development. Expressing his satisfaction at the progress made, the Prime Minister added that if we keep working with this passion, no one can stop the country from progressing.  He underlined that the new learnings and experiences during the National Learning Week will provide strength and help in improving working systems which will help us achieve our goal of Viksit Bharat by 2047.

    Prime Minister discussed the steps taken to change the mindset of the government over the last ten years, whose impact is being felt by people today. He said this has become possible due to the efforts of the people working in the government and through the impact of steps like Mission Karmayogi.

    Prime Minister emphasized that while the world views Artificial Intelligence (AI) as an opportunity, for India, it presents both a challenge and an opportunity. He spoke about two AIs, one being the Artificial Intelligence and the other, Aspirational India. Prime Minister stressed the importance of balancing both and said that if we successfully utilise Artificial Intelligence to drive progress for Aspirational India, it could lead to transformative change.

    Prime Minister also said that information equality has become a norm due to the impact of the digital revolution and social media. With AI, information processing is also becoming equally easy making citizenry informed and empowering them to keep a tab on all of the activities of the government. So, the civil servants need to keep themselves abreast with latest technological developments so as to meet the rising standards, wherein Mission Karmayogi can prove to be of help.

    He stressed on the need for innovative thinking and following a citizen-centric approach. He mentioned seeking help from startups, research agencies and youngsters for getting new ideas. He urged the departments to have a system of feedback mechanisms.

    Prime Minister lauded the iGOT platform and said that more than 40 lakh government employees have registered on the platform. Over 1400 courses are available and more than 1.5 crore certificates of completion in various courses have been received by the officers.

    Prime Minister noted that the Civil Services training Institutions have been  a victim of working in silos. He said that we have tried to increase partnerships and collaborations among them. He urged the training institutions to establish proper channels of communication, to learn from each other, discuss and adopt global best practices and inculcate a whole-of-government approach.

    Mission Karmayogi was launched in September 2020 envisioning a future-ready civil service rooted in Indian ethos, with a global perspective. National Learning Week (NLW) will provide fresh impetus towards individual and organisational capacity development for Civil Servants creating a “One Government” message and aligning everyone with national goals and promoting lifelong learning.

     

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  • MIL-OSI Asia-Pac: India leading the standards development process at global level: India’s candidates elected in leadership positions in all 10 Study Groups (SG) of International Telecommunication Unions’ (ITU) Standardization Sector (ITU-T)

    Source: Government of India

    Ministry of Communications

    India leading the standards development process at global level: India’s candidates elected in leadership positions in all 10 Study Groups (SG) of International Telecommunication Unions’ (ITU) Standardization Sector (ITU-T)

    India increases its leadership positions in ITU-T to 11 positions in WTSA-2024 from 7 positions in WTSA-2022

    Study Groups are technical grouping of experts responsible for developing international standards for telecommunications technologies

    Posted On: 19 OCT 2024 6:38PM by PIB Delhi

    Keeping in view India’s vision of being a technology leader and leading the standards development process at global level, India’s candidates were elected in leadership positions in all 10 Study Groups(SG) of International Telecommunication Unions’ (ITU) Standardization Sector (ITU-T).

    While India retained Chair position in one group, it secured Vice-Chair positions in all other 9 Study Groups and the SCV Committee, thereby increasing its leadership positions in ITU-T from 7 in WTSA-2022 to 11 positions in WTSA-2024.

    India is currently hosting the International Telecommunication Unions’ (ITU) World Telecommunication Standardization Assembly (WTSA) 2024 at Bharat Mandapam, New Delhi. It was inaugurated by the Prime Minister on 15th October and will continue till 24th October 2024. It is for the first time that WTSA is being conducted in the Asia-Pacific region and it would set the direction of standardization activities ITU-T and its work for the next four years (2024-2028). This year’s WTSA-24 witnesses more than 3700 delegates from over 160 countries, the highest ever for any WTSA assembly.

    The ongoing discussions at WTSA focus on promoting standardization activities on emerging technologies and developing new ITU-T Resolutions on topics such as Digital Public Infrastructure, Artificial Intelligence, post-quantum cryptography, Metaverse, Over-the-top (OTT) services, Sustainable Digital transformation, etc., which would be pivotal in shaping the future of technology and ensuring a connected, secure, and inclusive digital world. The existing ITU-T Resolutions are also being updated. Once the roadmap is set during the WTSA-24, the standardization activities would be taken up by the various ITU-T Study Groups in the form of development of Standards and Technical reports. The work of ITU-T will be carried out through its 10 Study Groups.

    Leadership positions: During the WTSA-24, participating countries elected leadership positions of the various Study Groups. India has significantly strengthened its position in the global telecommunication landscape, securing key leadership roles in all the ITU-T Study Groups. In the ongoing WTSA-24, India has garnered 11 leadership positions, including 1 Chair position for ITU-T SG 11 and 10 vice chair-positions as detailed below:

    S. N.

    Study Group

    Leadership Position

    Chair/Vice-Chair

    1

    SG2: Operational aspects

    Vice-Chair

    Premjit Lal, DDG(IR), DoT

    2

    SG3: Economic & policy issues

    Vice-Chair

    Sathish Kumar MC, Deputy Administrator, USOF

    3

    SG5: Environment, EMF & circular economy

    Vice-Chair

    Neha Upadhyay, Director, TEC

    4

    SGC [Merger of SG9: Broadband cable & TV and SG16: Multimedia & digital technologies]

    Vice-Chair

    Avinash Agarwal, DDG, TEC

    5

    SG11: Protocols, testing & combating counterfeiting

    Chair

    Tejpal Singh, Advisor, TRAI

    6

    SG12: Performance, QoS & QoE

    Vice-Chair

    Abdul Kayum, Advisor, TRAI

    7

    SG13: Future networks

    Vice-Chair

    Abhijan Bhattacharyya, TCS

    8

    SG15: Transport, access & home

    Vice-Chair

    Sudipta Bhaumik, STL

    9

    SG17: Security

    Vice-Chair

    Preetika Singh, Director, TEC

    10

    SG20: IoT, smart cities & communities

    Vice-Chair

    Ravi A Robert Jerard, CMD, BSNL

    11

    SCV [Standardization Committee for Vocabulary]

    Vice-Chair

    Hemendra K Sharma, DDG(Media), DoT

     

    This is a recognition of the contributions of these experts in development of global standards and a major milestone in India’s Standardisation Journey.

    About Study Groups

    Study Groups are technical grouping of experts who work for developing international standards for telecommunications technologies based on the technical inputs received from members of ITU. Chairs and Vice Chairs of these Study Groups are elected from the ITU members during the WTSA. Area of work for the Study Groups (SGs) are as below :

    SG2: Operational aspects

    • Deployment of numbering, naming, addressing and identification (NNAI) requirements and resource assignment,
    • operational and management aspects of networks

    SG3: Economic & policy issues

    Studying international telecommunication/ICT policy and economic issues and tariff and accounting matters (including costing principles and methodologies), with a view to informing the development of enabling regulatory models and frameworks.

    SG5: Environment, EMF & circular economy

    Electromagnetic fields (EMF), environment, climate action, sustainable digitalization, and the circular economy.

    SGC [Merger of SG9: Broadband cable & TV and SG16: Multimedia & digital technologies]

    • Use of telecommunication systems in the distribution of television and sound programs supporting advanced capabilities such as ultra-high definition and high-dynamic range, 3D, virtual reality, augmented reality and multiview.

     

    • Ubiquitous multimedia applications, multimedia capabilities, multimedia services and multimedia applications for existing and future networks.

    SG11: Protocols, testing & combating counterfeiting

    • signalling and protocols
    • establishing test specifications, conformance and interoperability testing for all types of networks, technologies and services that are the subject of study and standardization by all ITU-T study groups​
    • combating counterfeiting of ICT devices
    • combating the use of stolen ICT devices

    SG12: Performance, QoS & QoE

    Development of international standards (ITU-T Recommendations) on performance, quality of service (QoS) and quality of experience (QoE). This work spans the full spectrum of terminals, networks and services, ranging from speech over fixed circuit-switched networks to multimedia applications over mobile and packet-based networks.

    SG13: Future networks

    Future computing, including cloud computing and data handling in ICT networks. This work covers network capabilities and technologies to support data utilization, exchange, sharing, and data quality assessment. It also covers computing-aware networking as well as end-to-end awareness, control and management of future computing, including cloud, cloud security and data handling.

    SG15: Transport, access & home

    Development of standards for the optical transport network, access network and home network infrastructures, systems, equipment, optical fibres and cables and the related installation, maintenance, management, test, instrumentation and measurement techniques, and control plane technologies to enable the evolution toward intelligent transport networks.

    SG17: Security

    Cybersecurity, security management, security architectures and frameworks, countering spam, identity management, the protection of personally identifiable information, operational aspects of data protection, open identity trust framework; and quantum-based security; and Child Online Protection.

    SG20: IoT, smart cities & communities

    Coordinated deployment of IoT and address IoT implementation challenges related to interoperability, big data, and architectural frameworks and requirements for supporting various IoT systems. SG20 standards that set the requirements for IoT deployment also help smart cities and communities to improve the efficiency of IoT systems and smart city platforms, break down data silos, facilitate seamless data sharing among various verticals, and enhance data processing and management capacity.

    ​​​​​​​​​​​​​​​​​​​​​ SCV [Standardization Committee for Vocabulary]

    To address the need for a harmonized understanding of all terms and definitions used in standardization.

     

    About TSAG [Telecommunication Standardization Advisory Group]: TSAG acts as an advisory body and plays a crucial role in providing strategic guidance and oversight to the ITU’s standardization activities. It is called on to resolve coordination issues among the study groups, to expand electronic working methods for the ITU-T and to provide advice and procedures on relationships with other standards bodies.

    <><><>

     

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    SB/DP/ARJ

                    

    (Release ID: 2066369)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CMPDI Conducts National Seminar on ‘Mineral Exploration & Water Resource Management: Recent Trends’

    Source: Government of India

    Posted On: 19 OCT 2024 6:26PM by PIB Delhi

    Central Mine Planning and Design Institute (CMPDI) in association with Society of Geo-Scientists Jharkhand (SGSJ) organised a National Seminar today on ‘Mineral Exploration & Water Resource Management: Recent Trends’ with special focus on the state of Jharkhand. CMD, CMPDI, Shri Manoj Kumar inaugurated the One-day National Seminar. This seminar aims to address pressing issues related to Strategic & Critical Mineral Resources and Water Resource Management, encompassing both surface and groundwater. The seminar featured a series of technical sessions, including oral presentations based on submitted abstracts and keynote addresses from experts in the field, both from within and outside the organization.

     

    Additional Secretary, Ministry of Coal, Smt. Rupinder Brar, the Chief guest of the seminar addressed the audience through Video conference (VC). At the outset, Smt.  Brar congratulated CMPDI and said that seminar topic is more contemporary as we need a lot research, ideas on how to do sustainable mining and Water Resource Management during mineral exploration. Smt. Brar also appreciated the seminar subjects and said that this seminar will add value to the ecosystem of mining and the outcome and best practices emerge out of this seminar will be incorporated and implemented in the field of mining. 

    CMD, CMPDI and Patron of the seminar Shri Manoj Kumar, said that, “It is a matter of pride for CMPDI for hosting the National Seminar on a theme “Mineral Exploration & Water Resource Management: Recent trends” which shows the efforts of CMPDI towards achieving its vision of ‘To be a market leader in an expanding earth resource sector and allied professional activities.’ Today’s seminar will be a great opportunity for discussion on mineral wealth of Jharkhand as well as innovative approach for adoption of advanced technique for exploration of mineral wealth situated in the country and Groundwater management through recent trends and techniques’, he added.

     

     

    Total 22 papers (including 6 key-notes) were presented in this seminar and about 300 delegates from GSI, NTPC, SAIL, MECL, Ranchi University, Central University of Jharkhand, IIT-ISM Dhanabad etc. attended the seminar. ADG operations, Jharkhand Police, Shri Sanjay A. Lathkar; Director (Technical/P&D), CMPDI, Shri Ajay Kumar; Director (Technical/ES), CMPDI, Shri Satish Jha, other senior officials and employees of CMPDI were present on the occasion.

     

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  • MIL-OSI Asia-Pac: CIC calls on Dr. Jitendra Singh, Minister of State for Personnel, Public Grievances & Pensions

    Source: Government of India

    CIC calls on Dr. Jitendra Singh, Minister of State for Personnel, Public Grievances & Pensions

    100% RTI disposal rate in first 6 months of current financial year

    Posted On: 19 OCT 2024 5:25PM by PIB Delhi

    Chief Information Commissioner of India Shri Heeralal Samariya called on Dr. Jitendra Singh, Minister of State for Personnel, Public Grievances & Pensions today.

    During the meeting, Shri Samariya informed the Minister that Central Information Commission has achieved 100% disposal rate of RTIs during the first six months of the current financial year. Dr Jitendra Singh lauded the Central Information Commission on this achievement.

     

    The Minister applauded the office of Chief Information Commission for consistently using Artificial Intelligence for study, analysis and pattern of RTIs and also checking credentials of RTI applicants.

    Chief Information Commissioner also apprised the Minister of the consistent use of hybrid mode, – physical cum video conferencing, introduced in the office of CIC for hearing and disposal of RTI appeals. The Commissioner informed the Minister that the disposal of RTI applications during the Covid 19 pandemic period was more due to the use of online mode and modern technologies.

    He further informed that now the RTI applications can also be filed with the help of mobile App. “New technologies have been introduced, leading to the speedy disposal of pending applications. Awareness camps are also being organised to spread awareness about the RTI Act” the Commissioner submitted.

    The Union Minister said that it was during the Modi Government that a 24-hour portal service was introduced for e-filing of the RTI applications at any time of the day or night and from any part of the country or abroad. Similarly during Prime Minister Shri Narendra Modi’s tenure, the office of Central Information Commissioner was shifted to its own exclusive office complex, he added.

    Dr Jitendra Singh reiterated that the role of the Central Information Commission is important to live up to PM Modi’s vision of transparency and citizen participation in the functioning of the government.

    *****

    NKK/AG/GS

     

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  • MIL-OSI Asia-Pac: Shri Dharmendra Pradhan embarks on 7-Day tour to strengthen education ties with Singapore and Australia

    Source: Government of India

    Shri Dharmendra Pradhan embarks on 7-Day tour to strengthen education ties with Singapore and Australia

    Education Minister to meet Singapore’s Prime Minister, Deputy Prime Minister and senior leaders

    Education Minister to meet his Australian Counterpart to foster collaboration and synergy in critical areas of mutual interest in education

    Shri Dharmendra Pradhan will address Australian International Education Conference

    Posted On: 19 OCT 2024 4:45PM by PIB Delhi

    In a significant move to enhance bilateral cooperation in the education sector, Union Minister for Education Shri Dharmendra Pradhan will visit Singapore and Australia from 20 to 26 October 2024. The visit is expected to foster collaboration, participation, and synergy in critical areas of mutual interest in education.

    During the two day visit in Singapore, Shri Dharmendra Pradhan will address the members of Indian diaspora on 20th October 2024. The next day, Shri Dharmendra Pradhan will meet the Prime Minister of Singapore, H.E. Lawrence Wong; Deputy Prime Minister, H.E. Gan Kim Yong; Education Minister, H.E. – Chan Chun Sing; and Foreign Minister H.E. Vivian Balakrishnan. Shri Pradhan will visit the National University of Singapore ranked No.1 in Asia. He will also visit a local secondary school to discuss the scope of syllabus integration, keeping AI in focus. He will meet academicians, eminent representatives from alumni of IITs and IIMs and engage in discussions related to the education ecosystem of both countries.

    During the 3-day visit to Australia, on 23rd October 2024, the Minister, in Melbourne, will meet Hon. Jason Clare MP, Minister for Education. Shri Pradhan will also deliver the Plenary address at the Australian International Education Conference. The Minister will be visiting the South Melbourne Primary School which is known for integrated approaches to learning.

    He will visit ‘Discovery to Device’ at RMIT University which is a unique centre for MedTech prototyping and manufacturing. The visit will explore collaborative approaches to the commercialisation of medical technologies and role of industry-academia linkages in driving innovation..

    Shri Pradhan will meet Hon. Jacinta Allan MP, Premiere of Victoria along with Australian Education Minister Hon Jason Clare MP. He will also visit Monash University to observe their Innovation Lab and Centre for Nano-fabrication.During his stay in Melbourne, Shri Pradhan will also interact with senior academics of Indian origin.

    To explore opportunities for partnerships in educating early childhood education workforces, Shri Pradhan will visit Auburn Long Day Child Care Centre in Sydney on 24th October 2024. The Minister will interact with the representatives of the Innovative Research Universities (IRU) and will attend the 2nd Australia India Education and Skills Council.

    On 25th October 2024, he will visit the Granville South Creative and Performing Arts High School.Shri Pradhan will visit the site of the Macquarie Park Innovation District (MPID). As home to over 180 multinational companies, MPID facilitates the practical application of research across telecommunications, digital industries, medical technology and pharmaceuticals for economic benefit.

    Later in the day, Shri Pradhan will interact with Indian research students hosted by the Group of Eight, Australia’s most research intensive universities.

    Shri Pradhan will visit the UNSW Energy Institute and the Trailblazer for Recycling and Clean Energy (TraCE) at the Tyree Energy Technologies Building, Kensington. Here, he will observe real-world examples of practical research applications with commercial impact through the UNSW Energy Institute, which brings together world-leading researchers and the energy industry.

    He will also visit UTS Moore Park Sports and Exercise Precinct to explore cooperation in sports education and sports research. UTS’s Moore Park Precinct is a state-of-the-art teaching, research and sporting facility.

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    MV/AK

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  • MIL-OSI: Renegade IDO to Debut on DeFi.Gold Launchpad, Bridging TradFi with Crypto

    Source: GlobeNewswire (MIL-OSI)

    Cayman Islands, Oct. 21, 2024 (GLOBE NEWSWIRE) — – DG Labs Ltd., a leader in decentralized finance (DeFi), announces the upcoming Initial DEX Offering (IDO) on the DeFi.Gold launchpad, featuring Renegade, a financial platform that integrates traditional banking services with advanced cryptocurrency solutions. This partnership aligns with DeFi.Gold’s mission to bridge decentralized finance and traditional financial systems, providing users with greater control, transparency, and empowerment in their financial decisions. Renegade offers an all-in-one platform designed to unify traditional finance and decentralized assets. The platform enables users to seamlessly manage fiat, cryptocurrencies, and other financial products in a single interface, redefining how individuals engage with their finances. Key features of Renegade:

    • All-in-One Financial App: Manage both traditional and cryptocurrency assets through a single, unified platform, streamlining financial management like never before
    • Crypto Exchange and Wallet Services: Buy, sell, and securely store crypto assets with integrated exchange and wallet functionalities, ensuring a smooth and secure user experience
    • Visa Card Integration: Renegade offers a Visa card linked to user accounts, allowing users to spend both fiat and cryptocurrency funds in everyday transactions worldwide
    • Reward System: Users can design personalized reward cards by selecting a ‘squad’ – a monthly subscription model – earning points through RNG staking or completing squad missions for additional rewards
    • AI-Driven Portfolio Management: Advanced AI tools provide precise analysis and automated rebalancing of cryptocurrency portfolios, ensuring optimal performance with minimal effort

    The Renegade crowd sale is set to launch on November 11, 2024. Early participants can secure exclusive discounts by joining the waitlist at renegade.defi.gold. Mona Coyle, CEO of DG Labs Ltd., commented: “We’re proud to partner with Renegade, a company that truly understands the intersection of traditional finance and crypto. This IDO marks a significant step in our mission to provide access to innovative financial solutions that empower users.” Mike Hunt, CEO of Renegade, added: “Our platform is built to redefine how people manage their finances, giving them the tools to navigate between fiat and crypto seamlessly. We’re thrilled to launch with the support of DG Labs and DeFi.Gold and look forward to ushering in a new era of financial freedom.” Expanding the DeFi.Gold Ecosystem In addition to the Renegade IDO, DG Labs is excited to announce that three more IDOs will be launching on the DeFi.Gold platform before the end of 2024. One of these projects is an innovative game that will feature Flurbo and Schmeckle Runes – digital assets previously launched by DeFi.Gold. These Runes will be redeemable for in-game currency and governance tokens, with listings scheduled for Q1 2025. The game will also be the first project on the DeFi.Gold launchpad to be offered via auction, marking a unique milestone in community-driven engagement. For more information on DeFi.Gold’s launchpad and its features, visit http://www.DeFi.Gold.com.
    -ENDS- About DeFi.Gold: DeFi.Gold is pioneering DeFi with the first non-custodial DEX, launchpad, and NFT marketplace built on Bitcoin’s secure infrastructure. By leveraging Bitcoin’s Layer 1 (L1) and the Lightning Network, DeFi.Gold offers enhanced scalability, efficiency, and advanced features. The platform supports trading of assets like Jettons, ERC20 tokens, Runes, RGB, Taproot Assets, and more across Bitcoin, Stacks, TON, and Ethereum. DeFi.Gold NFT marketplace will provide liquidity for creators and collectors, integrating seamlessly with popular web wallets and enabling fast, low-cost transactions. The $DGOLD token powers community-led innovation on the Bitcoin blockchain. Contact:
    Aroma Kumar
    Account Manager
    aroma@lunapr.io
    http://www.lunapr.io

    The MIL Network –

  • MIL-OSI Asia-Pac: The 2nd National Lighthouse Festival began with ‘Lighthouse Tourism Conclave 2024’

    Source: Government of India

    The 2nd National Lighthouse Festival began with ‘Lighthouse Tourism Conclave 2024’

    Lighthouse Tourism Conclave 2024 highlighted opportunities for Heritage and Preservation

    Odisha’s five heritage lighthouses among Key attractions, drawing Over 10 Lakh Visitors in 2024-25

    In line with vision to unlock the immense potential of India’s maritime heritage, MoPSW has embarked on a transformative journey to revitalize our historic lighthouses Shri Shantanu Thakur, MoS, MoPSW

    These majestic structures, which have long guided mariners, are now evolving into centres of tourism, culture, and learning: Shri Shantanu Thakur, MoS, MoPSW

    Posted On: 19 OCT 2024 4:39PM by PIB Delhi

    On the day one of 2nd National Lighthouse Festival , Ministry of Ports, Shipping, and Waterways (MoPSW) hosted the Lighthouse Tourism Conclave 2024 today in Puri, with over 100 participants, including government officials, tourism experts, and conservationists, in attendance. The event aimed to explore the vast potential of lighthouse tourism and strategies for preserving these maritime structures, blending tourism development with heritage conservation.

    The conclave was graced by dignitaries, including Shri Sambit Patra, Hon’ble MP from Puri; Shri Suresh Gopi, Hon’ble Minister of State for Petroleum, Natural Gas & Tourism; and Smt. Pravati Parida, Hon’ble Deputy Chief Minister of Odisha. Following the traditional lighting of the ceremonial lamp, the Hon’ble Minister of State for Ports, Shipping & Waterways, Shri Shantanu Thakur, delivered the keynote address, where he emphasized the importance of developing lighthouse tourism as a means to boost local economies and preserve India’s rich maritime heritage.

    ”In line with our vision to unlock the immense potential of India’s maritime heritage, the Ministry of Ports, Shipping, and Waterways has embarked on a transformative journey to revitalize our historic lighthouses. These majestic structures, which have long guided mariners, are now evolving into centres of tourism, culture, and learning. With the development of 75 iconic lighthouses across the nation, we are not only preserving history but also creating vibrant spaces for recreation and community engagement”.

    He warmly invited all visitors to explore these landmarks and experience the unique blend of heritage and modernity they offer.

    A detailed presentation by the Directorate General of Lighthouses and Lightships (DGL) showcased the current status and future prospects of lighthouse tourism in India, highlighting various initiatives underway. With an investment of ₹60 crore, 75 iconic lighthouses across 9 coastal states and 1 union territory have been developed under the visionary leadership of the Hon’ble Prime Minister. Each lighthouse has become a beacon of both heritage and recreation, with modern amenities such as museums, amphitheaters, children’s parks, and more. In Odisha, five lighthouses—Gopalpur, Puri, Chandrabhaga, Paradip, and False Point—have been developed as part of this initiative to promote lighthouse tourism.

    In the fiscal year 2023-24 alone, the 75 dedicated lighthouses attracted an impressive 16 lakh visitors. As of September 2024, the current fiscal year 2024-25 has already welcomed more than 10 lakh visitors. These developments have also resulted in job creation, with 150 direct and 500 indirect employment opportunities emerging in nearby hotels, restaurants, tour operators, transportation services, and local shops and artisans.

    The presentation was followed by two engaging panel sessions. The first session, moderated by Gaurav Nagar, focused on “Lighthouse Tourism and Heritage.” Speakers, including Kapil Mohan (AIS Retd.), Debasis Mishra, and renowned photographer Dinesh Khanna, discussed the cultural and economic significance of lighthouses and the untapped potential in leveraging them as tourist destinations. The second session, also moderated by Gaurav Nagar, concentrated on “Preservation and Conservation of Lighthouses.” Experts such as Raja Parija, Capt. Devabrat Mishra, and Sangeeta Thakur deliberated on sustainable preservation techniques, balancing heritage conservation with the growing demand for tourism.

    This interactive dialogue encouraged collaboration among key industry players to strengthen lighthouse tourism in India.

    Through this conclave, the Ministry of Ports, Shipping, and Waterways aims to raise awareness about the unique blend of history and tourism that lighthouses represent, and how their preservation is essential for future generations. The event sets the stage for upcoming initiatives and collaboration in the lighthouse tourism sector.

    Note: Later in the evening, the Lighthouse Tourism Festival at Talabania Ground, Puri, will witness a grand cultural celebration. The festivities will begin with the invocation dance, Ganesh Vandana, followed by a captivating medley of traditional Assamese performances, showcasing the rich cultural heritage of Assam. To conclude the evening, renowned singer Papon will enthrall the audience with a special celebrity performance, adding a melodious touch to the celebration of India’s maritime heritage and lighthouse tourism. The event promises to be a blend of tradition, art, and entertainment, bringing people together in a vibrant cultural showcase.

    ********

    NKK/AK

    (Release ID: 2066322) Visitor Counter : 62

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: Afreximbank Acts as Joint Lead Manager on Ecobank Transnational Incorporated’s USD 400mn Senior Unsecured Note Issuance

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

    CAIRO, Egypt, October 21, 2024/APO Group/ —

    African Export-Import Bank (“Afreximbank”) (www.Afreximbank.com) is pleased to announce that it has successfully acted as Joint Lead Manager and Bookrunner on a USD 400 million 10.125% Rule 144a/RegS senior unsecured note issuance by Ecobank Transnational Incorporated (“ETI”) due in October 2029.

    The proceeds of the note will fund general corporate purposes of the issuer, including refinancing of a USD350 million senior bridge-to-bond loan facility that was jointly coordinated by Afreximbank in March 2024.

    The note issuance achieved peak orderbook oversubscription of 2.1x, backed by more than 70 high-quality and diverse investors comprising development finance institutions, asset managers, commercial banks and insurance companies from Africa, the UK, USA, Europe and the Middle East.

    Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, commenting on the transaction, said: “We are pleased to have supported Ecobank Transnational Incorporated (“ETI”) in placing the first public Eurobond issuance by any Sub-Saharan African financial institution since 2021, following our bridge financing support earlier in the year. This transaction underscores Afreximbank’s capacity and readiness to structure innovative market access solutions for our pan-African banking partners.”

    Afreximbank’s Advisory and Capital Markets (ACMA) department acted as Joint Lead Manager and Bookrunner on the issuance, working alongside international and African partners.

    MIL OSI Africa –

  • MIL-OSI China: China’s PCT intl patent applications top world for 5 consecutive years

    Source: China State Council Information Office 2

    China’s international patent applications via the Patent Cooperation Treaty (PCT) ranks first in the world for five consecutive years, said the World Intellectual Property Organization (WIPO) chief during the ongoing 2024 International Association for the Protection of Intellectual Property (AIPPI) World Congress.
    During the congress that opened Saturday in Hangzhou, east China’s Zhejiang Province, WIPO Director General Daren Tang said it is a milestone that the congress is being held in China for the first time.
    Tang said in a video that in the mid-1990s, when China joined the PCT of the WIPO, the annual number of international patent applications via the PCT framework was only about 100, and by 2023 the number reached about 70,000.
    According to AIPPI President Shoichi Okuyama, in recent years, the number of intellectual property applications in China has grown rapidly, and China has become the country with the most international patent applications, meaning that China’s sci-tech innovation capacity has made great progress.
    China has been working hard to formulate and improve relevant laws on intellectual property protection and has maintained active communication and exchanges with other international parties, he added.
    China became the first country in the world to have more than 4 million valid domestic invention patents. The number of applications for international patents via the PCT, design patents in the Hague System and international trademarks under the Madrid System rank among the top in the world.
    Held from Saturday to next Tuesday, the congress attracted about 2,300 industry insiders from 92 countries and regions for in-depth discussions on cutting-edge and hot issues in the field of intellectual property.

    MIL OSI China News –

  • MIL-OSI Economics: How Honeywell is using Google AI to prepare for the industrial future

    Source: Google

    Industrial companies play a crucial role in our daily lives, whether it’s the airplanes we fly, the medical devices we use or the sensors that manage the air conditioning in our offices. But there’s a looming talent shortage and skills gap in the industrial sector, which could soon create massive challenges for businesses and economies worldwide.

    With an entire generation of workers retiring and — in many cases — no one coming behind them, industrial companies are under tremendous pressure. They are asking how they can maintain the same level of expertise with their current talent, and searching for the best tools to do the work and transition the knowledge between generations. This is essential to keep industrial systems (and the world at large) running every day.

    Enter Honeywell. The longtime industrial partner and technology leader for the industrial sector is collaborating with Google Cloud to further help solve the skills and labor shortages. With Vertex AI, Honeywell is helping industrial assets work harder, people work smarter and processes run more efficiently. As Suresh Venkatarayalu, Honeywell’s CTO and President of Honeywell Connected Enterprise, puts it, “We’re moving from automation to autonomy. Our goal is to equip companies with AI agents that assist workers in real time — on factory floors and in the field. With AI running both in the cloud and at the edge, we’re making sure that systems work smarter and more efficiently.”

    Industrial AI agents that act like workplace ‘coaches’

    For years, Honeywell has been collecting industrial data through Honeywell Forge, a digital platform that draws on designs, manuals, and real-world performance of Honeywell’s global install base (such as how products have behaved in different environments, where issues have occurred, and how to resolve them). Now, Honeywell is using Vertex AI and Google’s large language models (LLMs) to build AI agents, like workplace “coaches,” that make this trove of data more accessible and easier to understand.

    These AI-powered tools will also help automate tasks for engineers, warehouse workers, and technicians for Honeywell and its customers. For example, AI agents can troubleshoot equipment, suggest design improvements, and offer preventative maintenance insights, such as, “How did this unit perform last night?” or “Why is my system making this sound?”

    Edge AI tools to help devices monitor and process data

    Honeywell’s devices are used worldwide in a range of settings — from data centers to hospitals to refineries to warehouses. Internet access can often be challenging, especially in remote locations. To solve this, Honeywell is exploring how to use Gemini Nano to provide AI services at the edge of the network — right on devices like scanners, sensors and controllers — so they can operate autonomously, even when they aren’t connected to the internet.

    Gemini’s multimodal capabilities enable understanding of text, code, images, videos and audio, allowing Honeywell devices to process various data types, from scanning to voice-based guided workflow.

    With Google AI-powered agents, Honeywell is helping bridge the skills gap and ensure the future of the industrial sector. The first solutions built with Google Cloud AI will be available to Honeywell’s customers in 2025. You can find out more information and see future updates on our website.

    MIL OSI Economics –

  • MIL-OSI: Diamond Equity Research Initiates Coverage on Solowin Holdings (NASDAQ:SWIN)

    Source: GlobeNewswire (MIL-OSI)

    New York, New York, Oct. 21, 2024 (GLOBE NEWSWIRE) —

    Diamond Equity Research, a leading equity research firm with a focus on small capitalization public companies has initiated coverage of Solowin Holdings (NASDAQ: SWIN). The in-depth 39-page initiation report includes detailed information on the Solowin’s business model, services, industry overview, valuation, management profile, and risks.

    The full research report is available below. 

    Solowin Holdings Initiation of Coverage

    Highlights from the report include:                                              

    • Distinct Competitive Advantage by Combining both Virtual Asset Trading and Traditional Financing: Solowin stands out as one of the few firms authorized to trade both virtual and traditional assets in Hong Kong, a highly regulated market with significant barriers to entry. This exclusive regulatory approval provides Solowin with a critical first-mover advantage, enabling it to integrate both traditional and digital asset offerings within its service portfolio. The firm’s unique ability to bridge conventional wealth management through Solomon Wealth with cutting-edge digital asset solutions via Solomon JFZ offers investors a diversified and comprehensive platform to manage various asset classes, appealing particularly to high-net-worth individuals and family offices. Solowin has already secured a dominant market position as the largest holder of customer assets in key ETFs such as the ChinaAMC Bitcoin ETF and the Harvest Bitcoin Spot ETF. This substantial market share in the rapidly expanding digital asset sector emphasize Solowin’s execution in capturing growth from emerging investment trends.
    • Robust Strategic Partnerships with Key Industry Players: The strategic collaborations with key financial entities like OSL, MaiCapital, ChinaAMC, and Harvest Global have bolstered Solowin’s capabilities in providing regulated, high-quality financial products. These partnerships not only extend its market reach but also enhance brand credibility and customer trust, which are crucial for sustaining growth and expanding its client base in both traditional and virtual asset markets.    
    • Leveraging Hong Kong’s Vast Market Potential: Hong Kong, a premier global financial hub, presents substantial opportunities for Solowin, as evidenced by the city’s impressive HK$25.5 trillion securities market turnover in 2023, despite global economic fluctuations. This dynamic market, supported by a wealth of high-net-worth individuals and advanced financial infrastructure, provides an ideal setting for Solowin’s diverse financial services. Its strategic location not only offers unrivaled access to Asian markets but also serves as a major conduit for capital flows into and out of China, boosting its attractiveness to international investors. Hong Kong serves as an optimal platform for expanding Solowin’s digital asset and private wealth management services. These sectors are key to Solowin’s strategic diversification and are poised for rapid growth, fueled by increasing investor interest in innovative and alternative financial products. The city’s advanced regulatory and technological frameworks support these services, offering potential for significant market penetration and scalability.
    • Valuation – Solowin Holdings presents a unique investment opportunity, driven by its strategic diversification into Private Wealth and Virtual Assets alongside traditional financial services. Leveraging its established user base, Solowin has significantly enhanced customer value and expanded its market presence. Our valuation analysis, using a Discounted Cash Flow (DCF) approach with a discount rate of 12.10%—which reflects the company’s growth potential balanced against market risks, competitive landscape, and regulatory uncertainties—and a terminal growth rate of 1.5%, along with Comparable Company Analysis (EV/Revenue multiple), estimates Solowin’s per share value at $4.74, contingent on successful execution by company.

    About Solowin Holdings  

    Solowin Holdings, an investment holding company, provides Investment banking services, wealth management services, asset management services, and virtual assets services to customers. Solowin Holdings was incorporated in 2021 and is based out of Tsim Sha Tsui, Hong Kong. 

    About Diamond Equity Research

    Diamond Equity Research is a leading equity research and corporate access firm focused on small capitalization companies. Diamond Equity Research is an approved sell-side provider on major institutional investor platforms.

    For more information, visit https://www.diamondequityresearch.com.

    Disclosures:

    Diamond Equity Research LLC is being compensated by Solowin Holdings (NASDAQ: SWIN) for producing research materials regarding Solowin Holdings and its securities, which is meant to subsidize the high cost of creating the report and monitoring the security, however, the views in the report reflect that of Diamond Equity Research. All payments are received upfront and are billed for research engagement. As of 10/21/24 the issuer paid us $50,000 for our company sponsored research services, which commenced 05/15/24 and is billed annually. Diamond Equity Research LLC may be compensated for non-research related services, including presenting at Diamond Equity Research investment conferences, press releases and other additional services. The non-research related service cost is dependent on the company, but usually do not exceed $5,000. The issuer has not paid us for non-research related services as of 10/21/24. Issuers are not required to engage us for these additional services. Additional fees may have accrued since then. Although Diamond Equity Research company sponsored reports are based on publicly available information and although no investment recommendations are made within our company sponsored research reports, given the small capitalization nature of the companies we cover we have adopted an internal trading procedure around the public companies by whom we are engaged, with investors able to find such policy on our website public disclosures page. This report and press release do not consider individual circumstances and does not take into consideration individual investor preferences. Statements within this report may constitute forward-looking statements, these statements involve many risk factors and general uncertainties around the business, industry, and macroeconomic environment. Investors need to be aware of the high degree of risk in small capitalization equities, including the complete loss of their investment. Investors can find various risk factors in the initiation report and in the respective financial filings for Solowin Holdings. Please review disclosure page in attached initiation report for full disclosures.

    Contact:

    Diamond Equity Research
    research@diamondequityresearch.com

    Attachment

    The MIL Network –

  • MIL-OSI: Music Licensing, Inc. (OTC: SONG) Retains SmallCapVoice.com Inc. (“SCV”) to Provide Investor Relations Services

    Source: GlobeNewswire (MIL-OSI)

    Naples, FL, Oct. 21, 2024 (GLOBE NEWSWIRE) — Music Licensing, Inc. (OTC: SONG), a leading diversified music rights management company, announces today it has retained Austin, Texas-based SmallCapVoice.com Inc. (“SCV”). SmallCapVoice.com, Inc. is an investor relations and communications firm focused on emerging growth companies. Music Licensing, Inc. and SCV will be creating several different initiatives aimed at increasing corporate exposure to new investors, as well as current shareholders, customers and others.

    Stuart Smith, CEO of SmallCapVoice.com, Inc., commented, “We’re thrilled by the major licensing deals Music Licensing, Inc. has secured in 2024,” said Stuart Smith, CEO of SmallCapVoice.com, Inc. “Their ability to target unique market niches and differentiate themselves in the industry has caught our attention, and it’s something we look forward to highlighting.”

    “We are pleased to engage SmallCapVoice.com, Inc. for investor relations activities. In relation to these activities, we are updating the investor pages on our website. We look forward to working with SmallCapVoice.com to enhance communication with a wider shareholder base and share the exciting developments at Music Licensing, Inc.,” stated Jake P. Noch, CEO of Music Licensing, Inc.

    About Music Licensing, Inc. (OTC: SONG) (ProMusicRights.com)

    Music Licensing, Inc. (OTC: SONG), also known as Pro Music Rights, is a diversified holding company and the fifth public performance rights organization (PRO) formed in the United States. Its licensees include notable companies such as TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights holds an estimated market share of 7.4% in the United States, representing over 2,500,000 works by notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sauce Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar, 3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi Vert, and countless others, as well as artificial intelligence (A.I.) created music.

    Additionally, Music Licensing, Inc. (OTC: SONG) owns royalty stakes in Listerine “Mouthwash” Antiseptic and musical works by artists such as The Weeknd, Justin Bieber, Kanye West, Elton John, Mike Posner, blackbear, Lil Nas X, Lil Yachty, DaBaby, Stunna 4 Vegas, Miley Cyrus, Lil Wayne, XXXTentacion, Jeremih, Ty Dolla $ign, Eric Bellinger, Ne-Yo, MoneyBagg Yo, Halsey, Desiigner, DaniLeigh, Rihanna, and numerous others.

    About SmallCapVoice.com

    SmallCapVoice.com, Inc. is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies, small cap and micro-cap stocks build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, podcasts, as well as its clients’ financial news releases. SmallCapVoice.com also offers individual investors all the tools they need to make informed decisions about the stocks in which they are interested. Tools like stock charts, stock alerts, and Company Information Sheets can assist with investing in stocks that are traded on the OTCMarkets. To learn more about SmallCapVoice.com and its services, please visit https://www.smallcapvoice.com/small-cap-stock-otc-investor-relations-financial-public-relations/.

    Socialize with SmallCapVoice and their clients at

    Facebook: https://www.facebook.com/SmallCapVoice/  
    Twitter: https://twitter.com/smallcapvoice   
    Instagram: https://www.instagram.com/smallcapvoice/

    Forward-Looking Statements

    This news release contains forward-looking statements that reflect Management’s current views about future events and financial performance. Forward-looking statements often contain words such as ”expects,” ”anticipates,” ”intends,” or ”believes.” Our forward-looking statements are subject to a number of risks and uncertainties that may cause actual results and events to differ materially from those projected in the forward-looking statements. Risks and uncertainties that could adversely affect us include, without limitation, the loss of major customers, our failure to obtain new contracts, our inability to patent products or processes, our infringement of patents held by others, our inability to finance our business and the other risks and uncertainties that are discussed in our most recent filings with the Securities and Exchange Commission. The forward-looking statements in this news release are made only as of the date of this news release. We undertake no obligation to update our forward-looking statements, whether as a result of new information, future events or otherwise.

    Forward-Looking Statements:

    This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.

    Non-Legal Advice Disclosure:

    This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.

    Non-Investment Advice Disclosure:

    This communication is intended solely for informational purposes and does not in any way imply or constitute a recommendation or solicitation for the purchase or sale of any securities, commodities, bonds, options, derivatives, or any other investment products. Any decisions related to investments should be made after thorough research and consultation with a qualified financial advisor or professional. We assume no liability for any actions taken or not taken based on the information provided in this communication.

    Contact: investors@ProMusicRights.com

    SmallCapVoice.com
    Stuart T. Smith
    512-267-2430
    Info@SmallCapVoice.com

    Source: Music Licensing, Inc.

    The MIL Network –

  • MIL-OSI China: 2024 WSTDF to open in Beijing

    Source: China State Council Information Office 3

    A press briefing on the 2024 World Science and Technology Development Forum is held in Beijing on Oct. 18. [Photo courtesy of the China Association for Science and Technology]

    The 2024 World Science and Technology Development Forum (WSTDF), hosted by the China Association for Science and Technology (CAST), will commence in Beijing on Oct. 22, according to a press briefing held on Friday.

    Guided by the implementation of China’s three major global initiatives, the forum will center on the theme “Science and Technology for the Future” and focus on in-depth discussions of six topics. It aims to harness international expertise to drive high-quality development, foster cross-cultural scientific exchanges, and tackle global challenges through innovation and technological solutions.

    The main activities of the 2024 WSTDF will take place in Beijing from Oct. 22-24, with the closing ceremony set for Oct. 30. During the event, in addition to the opening ceremony on Oct. 22, six major thematic sessions and three roundtable dialogues will be held, complemented by several cultural exchange activities. The six thematic sessions will explore the following key areas: “AI Governance Innovation: Building an International Trust Foundation for Cultivating the Ecology of Science and Technology Governance (Intelligence)”; “Interdisciplinary Science-Based Solutions Towards Sustainable Development (Interdisciplinary)”; “Open Science Infrastructures: Building a Collaborative Platform for the Sciences Decade (Infrastructures)”; “Cross-Industry Resource Collaboration and Integration to Provide Innovative Application Scenarios for Enhancing the Intelligent Manufacturing Industry (Innovation)”; “Harmonious Coexistence of Nature and Humanity: Environment and Health (Interaction)”; and “Science and Technology for Risk-Informed Sustainable Development (Integration).” The three roundtable dialogues will focus on the following themes: “Encouraging women’s participation in science and technology”; “Science: Openness, Cooperation and Mobility”; and “Seminar on Effectively Advancing the Sustainable Development Goals.”

    In addition, three key international exchange events will enrich the forum, namely the 2024 China-ASEAN Engineers Forum in Beijing on Oct. 16; the opening ceremony of the 2024 WLA Forum & The Award Ceremony of the 2024 WLA Prize in Shanghai on Oct. 25; and the 11th China-Russia Engineering and Technology Forum in Heilongjiang on Oct. 28-29.

    The 2024 WSTDF is expected to attract hundreds of high-profile participants, including leaders from relevant countries, global award winners, heads of the United Nations as well as international science and technology organizations, as well as renowned scientists, entrepreneurs and educators from home and abroad. Among the attendees will be over 10 Nobel laureates and other major award winners, more than 40 academicians, over 30 business representatives, and nearly 50 delegates from international organizations.

    Featuring a diverse array of events, including thematic sessions, open forums and closed-door meetings, the forum will emphasize fostering interdisciplinary technological cooperation and integration. Through proposals, reports and declarations, it aims to drive meaningful progress in science and technology.

    In line with its commitment to simplicity and practicality, the forum will embrace a green, low-carbon and sustainable approach. This includes utilizing paperless communication to boost efficiency, leveraging digital technology to streamline event services, and using renewable energy vehicles for guest transportation. Additionally, the forum will limit the number of participants, avoid unnecessary formalities and minimize decorations to foster a focused and efficient environment.

    First launched and hosted by CAST in 2019, the WSTDF has been held five times. Amidst the complex and evolving global landscape, the forum has played a vital role in fostering non-governmental scientific and technological exchange, broadening avenues for international collaboration, and establishing an open and trustworthy network of cooperation. This year, the forum will once again offer a crucial platform for nations to exchange ideas, deepen partnerships and advance scientific innovation and development on a global scale, contributing to a community with a shared future for mankind.

    MIL OSI China News –

  • MIL-OSI: ManTech Opens Center for Innovation and Partnership in Hawaii to Support Department of Defense Missions in the Indo-Pacific

    Source: GlobeNewswire (MIL-OSI)

    HONOLULU and HERNDON, VA., Oct. 21, 2024 (GLOBE NEWSWIRE) — ManTech, a leading provider of AI and mission-focused technology solutions, today opened its new Innovation and Partnership Center in Hawaii (named Kūmaumau). This center expands the company’s support of U.S. Department of Defense missions in the Indo-Pacific region. Strategically located in Honolulu’s growing hi-tech corridor, ManTech’s new facility will play a pivotal role in advancing U.S. Indo-Pacific Command missions.

    The Kūmaumau Center will deliver cutting-edge capabilities to ensure U.S. military forces maintain dominance across both physical and digital battlefields. These include solutions for mitigating Contested Logistics, enhancing Integrated Missile Systems, advancing fixed and undersea intelligence surveillance, providing C5ISR support, and deploying Data @ the Edge technologies for secure communications in challenging environments. The center will also focus on Full-Spectrum Cyber capabilities to protect against emerging digital threats.

    “ManTech has an enduring commitment to supporting defense and national security objectives from the vital hub of Hawaii,” said David Hathaway, President of ManTech’s Defense Sector. “Our new Innovation Center will build on this platform of mission success by developing, testing and deploying advanced technology solutions that provide our warfighters and partners with an all-important edge in combat scenarios.”

    “As a long-term member of Hawaii’s community, we have designed Kūmaumau as a hub for collaboration with local businesses, universities, and international partners to support national security,” said Byron K.W. Leong, ManTech’s Executive Director, U.S. Indo-Pacific Business Development. “This new facility underscores ManTech’s dedication to pioneering mission-critical technology committing to the creation of career opportunities for the people and businesses of Hawaii.”

    ManTech Innovation Center
    SALT at Our Kaka’ako
    680 Ala Moana Blvd – Suite 103 Honolulu, HI 96813

    About ManTech
    ManTech provides mission-focused technology solutions and services for U.S. Defense, Intelligence and Federal Civilian agencies as a 55-year Industry Partner with the Federal Government. We are a leading mission and enterprise technology provider that powers AI, full-spectrum cyber, data collection & analytics, high-end digital engineering and software application development solutions that support national and homeland security. Additional information on ManTech can be found at http://www.mantech.com.

    Media Contact:

    Jim Crawford
    ManTech
    Executive Director, External Communications
    (M) 703-498-7315
    James.Crawford2@ManTech.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d64b7873-d3f3-49f2-bb4a-abe3e9c910f2

    The MIL Network –

  • MIL-OSI: Microchip Expands 64-bit Portfolio with High-Performance, Post-Quantum Security-Enabled PIC64HX Microprocessors

    Source: GlobeNewswire (MIL-OSI)

    CHANDLER, Ariz., Oct. 21, 2024 (GLOBE NEWSWIRE) — The global edge computing market is expected to grow by more than 30 percent in the next five years, serving mission-critical applications in the aerospace, defense, military, industrial and medical sectors. To meet this increasing demand for reliable, embedded solutions for mixed-criticality systems, Microchip Technology (Nasdaq: MCHP) has announced the PIC64HX family of microprocessors (MPUs). Unlike traditional MPUs, the PIC64HX is purpose built to address the unique demands of intelligent edge designs.

    The latest in Microchip’s 64-bit portfolio, the PIC64HX is a high-performance, multicore 64-bit RISC-V® MPU capable of advanced Artificial Intelligence and Machine Learning (AI/ML) processing and designed with integrated Time-Sensitive Networking (TSN) Ethernet connectivity and post-quantum-enabled, defense-grade security. PIC64HX MPUs are specifically designed to deliver comprehensive fault tolerance, resiliency, scalability and power efficiency.

    “The PIC64HX MPU is truly groundbreaking in the number of advanced features we are able to provide with a single solution,” said Maher Fahmi, corporate vice president of Microchip’s communications business unit. “And, integrating TSN Ethernet switching into the MPU helps developers bring standards-based networking connectivity and compute together to simplify system designs, reduce system costs and accelerate time to market.”

    The integrated Ethernet switch includes a TSN feature set with support for important emerging standards: IEEE P802.1DP TSN for Aerospace Onboard Ethernet Communications, IEEE P802.1DG TSN Profile for Automotive In-Vehicle Ethernet Communications and IEEE/IEC 60802 TSN Profile for Industrial Automation.

    Eight 64-bit RISC-V CPU cores—SiFive Intelligence™ X280—with vector extensions help enable high-performance compute for mixed-criticality systems, virtualization and vector processing to accelerate AI workloads. The PIC64HX MPU allows system developers to deploy the cores in multiple ways to enable SMP, AMP or dual-core lockstep operations. WorldGuard hardware architecture support is provided to enable hardware-based isolation and partitioning.

    “Next-generation aircraft require a new generation of processors for mission-critical applications such as flight control, cockpit display, cabin networking and engine control. The OHPERA Consortium views RISC-V technology as an essential component of the future of safe and sustainable aircraft,” said Christophe Vlacich, OHPERA technical Leader. The OHPERA Consortium is composed of leading aerospace companies with the mutual goal of evaluating new technologies for next-generation aircraft.  “We are pleased to see the upcoming availability of commercial products like Microchip’s PIC64HX MPU with the compute performance, partitioning, connectivity and security needed to shape the future of aviation.”

    The expected arrival of quantum computers poses an existential threat as it will make current security measures ineffective. As a result, government agencies and enterprises worldwide are beginning to call for the inclusion of post-quantum cryptography in any critical infrastructure. Addressing current and future security needs, the PIC64HX is one of the first MPUs on the market to support comprehensive defense-grade security including the recently NIST-standardized FIPS 203 (ML-KEM) and FIPS 204 (ML-DSA) post-quantum cryptographic algorithms.

    The PIC64HX MPU is a powerful and versatile solution for intelligent edge applications, addressing key requirements for low latency, security, reliability and compliance with industry standards.

    Development Tools
    The PIC64HX MPU is supported by a comprehensive package of tools, libraries, drivers and boot firmware. Multiple open-source, commercial and real-time operating systems are supported including Linux® and RTEMS, as well as hypervisors such as Xen. PIC64HX MPUs leverage Microchip’s extensive Mi-V ecosystem of tools and design resources to support its RISC-V initiatives. To help reduce development cycles and accelerate time to market, Microchip offers the Curiosity Ultra+ PIC64HX evaluation kit and is partnering with single-board computer partners.

    “Aries Embedded has long been a supporter of the RISC-V ecosystem,” said Andreas Widder, Aries Embedded CEO. “We are proud to be a lead System-on-Module partner for the PIC64HX and look forward to helping Microchip enable mission critical intelligent edge applications.”

    Availability
    PIC64HX MPU samples will be available to Microchip’s early access partners in 2025. For additional information, please contact a Microchip sales representative.

    Resources
    High-res images available through Flickr or editorial contact (feel free to publish):
    • Application image: https://www.flickr.com/photos/microchiptechnology/54057544708/sizes/l/

    About Microchip Technology:
    Microchip Technology Inc. is a leading provider of smart, connected and secure embedded control and processing solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs which reduce risk while lowering total system cost and time to market. The company’s solutions serve approximately 123,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at http://www.microchip.com.

    Note: The Microchip name and logo, the Microchip logo are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.

    The MIL Network –

  • MIL-OSI Asia-Pac: Think critically, adapt to unforeseen circumstances & leverage latest technology to gain strategic advantage in today’s times: Raksha Mantri to military leaders at National Defence College, New Delhi

    Source: Government of India

    Think critically, adapt to unforeseen circumstances & leverage latest technology to gain strategic advantage in today’s times: Raksha Mantri to military leaders at National Defence College, New Delhi

    “Need to stay prepared to tackle the possibility of adversaries weaponising day-to-day tools & tech”

    “Ability to anticipate, adapt & respond will define our readiness to deal with emerging challenges”

    Govt’s focus is to make a technologically-advanced & future-ready military, says Shri Rajnath Singh

    Posted On: 19 OCT 2024 2:31PM by PIB Delhi

    Raksha Mantri Shri Rajnath Singh has called upon the military leaders to think critically, adapt to unforeseen circumstances and leverage latest technological advancements to gain a strategic advantage in today’s ever-evolving geopolitical landscape. Addressing the MPhil Convocation ceremony of 62nd National Defence College (NDC) course (2022 batch) in New Delhi on October 19, 2024, he urged the officers to become strategic thinkers who are capable of anticipating future conflicts, understanding global political dynamics and leading with both intelligence & empathy.

    “Warfare, today, has surpassed the traditional battlefields and now operates in a multi-domain environment where cyber, space & information warfare are as critical as conventional operations. Cyber-attacks, disinformation campaigns and economic warfare have become tools that can destabilise a whole nation without a single shot being fired. There is a need for military leaders to possess the ability to analyse complex problems and devise innovative solutions,” Raksha Mantri said.

    Shri Rajnath Singh described the rapid technological advancements in today’s times as the most crucial force which drives the evolution of a future-ready military. “From Drones and Autonomous Vehicles to Artificial Intelligence (AI) & Quantum Computing, the technologies shaping modern warfare are evolving at a breath-taking pace. Our officers must understand these technologies and be able to harness them,” he stated.

    Raksha Mantri exhorted the defence officers to carry-out in-depth analysis on how best to leverage niche technologies, such as AI, which has the potential to revolutionise military operations. He also stressed on the need to decide on the threshold level of the decisions AI is allowed to take, highlighting the importance of human intervention. Increasing reliance on AI in decision-making processes can raise concerns about accountability & the potential for unintended consequences, he said.

    Shri Rajnath Singh underlined the need to stay prepared to tackle the possibility of adversaries weaponising the tools and technologies used by people on a daily basis. “The mere thought that our adversaries exploiting the tools serves as a reminder of the urgency with which we must prepare for these threats. Institutions like NDC must evolve their course curriculum to not only incorporate case studies on such unconventional warfare but also to drive strategic innovation. The ability to anticipate, adapt & respond will define our readiness in the face of ever-evolving challenges,” he said.

    On the aspect of ethical dilemma faced by military leaders about the extent to which machines should make life-and-death decisions, Raksha Mantri said academic learning in ethics, philosophy and military history will provide officers with the tools to handle the sensitive subject & make sound decisions. He highlighted the critical role played by defence academic institutions, such as NDC, in instilling the moral framework in future leaders to deal with the challenges of present-day warfare. He urged the officers to have a firm grasp of geopolitics, international relations & the complexities of global security alliances, as the decisions made by them can have far-reaching consequences that extend beyond the battlefield and into the realm of diplomacy, economics & international law. 

    Shri Rajnath Singh voiced the Government’s resolve of developing a technologically-advanced and agile military, capable of responding to emerging threats & safeguarding national security. He asserted that while efforts are being made to ensure that the Armed Forces remain future-ready and resilient, defence institutions like NDC play a pivotal role in shaping the perspectives of military leaders & equipping them with the expertise necessary to handle the complexities of modern-day warfare.

    Raksha Mantri added that the curriculum of academic institutions must remain dynamic and adaptable to ensure its relevance to practitioners in the field. He described the challenges of modern warfare, ethical dilemmas, and strategic leadership as not just topics for reflection, but the foundation upon which the future of India’s national security will be built. 

    Emphasising that learning must be a continuous process not confined to the duration of a course, Shri Rajnath Singh suggested the introduction of online, short-term modules on critical subjects to extend the reach and impact of NDC. “This would allow more officers, irrespective of their geographical location or time constraints, to benefit from the knowledge and expertise offered by such a prestigious institution,” he stated.

    Raksha Mantri termed the extensive and well-established alumni network of NDC as an untapped resource that can play a pivotal role in this initiative. By leveraging the experience and insights of its alumni, NDC can foster a thriving, collaborative learning ecosystem that continuously enriches the professional development of defence personnel, he said.

    Shri Rajnath Singh congratulated the officers of the 62nd NDC Course who were awarded the MPhil degree, especially those from friendly countries. He termed them as a bridge between India and their respective nations. He added that challenges and concerns shared during the course would pave the way for enhancing the collective security and prosperity in the region.

    Defence Secretary-designate Shri RK Singh, Commandant NDC Air Marshal Hardeep Bains, Registrar, University of Madras Professor S. Elumalai, senior officers of Ministry of Defence and faculty members of NDC were present on the occasion.

     *******

    SR/Savvy/KB

    (Release ID: 2066290) Visitor Counter : 57

    MIL OSI Asia Pacific News –

  • MIL-OSI: Wearable Devices Unveils Foundational White Paper on the Future of Gesture Control and Neural Interfaces

    Source: GlobeNewswire (MIL-OSI)

    Yokneam Ilit, Israel, Oct. 21, 2024 (GLOBE NEWSWIRE) — Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), an award-winning pioneer in artificial intelligence (“AI”)-based wearable gesture control technology, announced the release of a landmark white paper titled, “Elevating AR Glasses User Experience with Gesture Control and Neural Wristband.” The white paper provides an in-depth and definitive analysis of emerging trends in gesture control technology, comparing camera-based solutions with wearable neural interfaces that present a clear case for the future of seamless, wrist-worn input control.

    This sweeping industry and technology analysis draws on Wearable Devices’ decade of experience developing pioneering human-computer interaction (HCI) solutions, including the Company’s award-winning Mudra Band, the world’s first neural interface wristband. Wearable Devices’ thought leadership highlights not only the current landscape of gesture control for face-worn devices but also identifies critical challenges and opportunities for improving usability, comfort and interaction quality.

    “Our far-reaching history in developing neural gesture-control technology uniquely positions Wearable Devices to provide this rigorous level of analysis,” said Wearable Devices Chief Executive Officer Asher Dahan. “Our Mudra technology represents a step forward in creating fluid and precise interactions with augmented reality (“AR”) glasses, eliminating the limitations of conventional input systems. This white paper offers key insights that help businesses and developers envision new ways to create user experiences where technology becomes an extension of natural human movement.”

    Key Findings from the White Paper

    Shift to Wearable Gesture Control for Comfort and Precision

    Traditional camera-based gesture systems often require users to maintain awkward postures or suffer from fatigue (the “gorilla arm” problem). Wearable Devices’ white paper concludes that shifting input functions to wrist-worn devices like the Company’s Mudra Band (iOS) and Mudra Link (Android) creates more natural, comfortable and sustainable user experiences.

    Extended Functionality with Sensor Fusion

    Both the Mudra Band and Mudra Link use AI, inertial measurement units (IMU) and surface nerve conductance (SNC) sensors to deliver accurate navigation and input control through wrist movements and subtle finger gestures. The white paper emphasizes that this combination enhances precision and extends functionality beyond what camera-based systems can achieve by capturing delicate movements like pinches and fingertip pressure.

    Overcoming the Limitations of Field-of-View Boundaries

    Face-worn devices equipped with cameras are inherently limited by their field of view (FOV) which restricts gesture detection. Mudra Band and Mudra Link eliminate this constraint by placing sensors on the wrist, enabling gesture control even when the hands are outside the camera’s view. The white paper concludes that this ability significantly improves user interaction by allowing more fluid, uninterrupted workflows.

    Bridging the Gap Between Device Types

    The analysis highlights how wearable input technologies can unify different face-worn devices—such as smart glasses, monocular heads-up displays and mixed reality headsets—by offering a common, adaptable interface. Mudra Band and Mudra Link both provide discrete gestures (e.g., tap, flick, pinch) suitable for minimal displays as well as point and drag gestures optimized for immersive AR and mixed reality systems.

    Reducing Device Weight and Complexity for Mass Adoption

    Wearable Devices’ study concludes that placing input-related hardware on the wrist rather than the face will drive widespread adoption of AR glasses. By offloading sensors and processors to a neural wristband, manufacturers can design lighter, more comfortable glasses with extended battery life, addressing major consumer pain points identified in competing products like the Apple Vision Pro and Meta Orion.

    Toward a New Standard in Human-Computer Interaction

    Wearable Devices asserts in the white paper that the neural interface is not only a technical upgrade but also a philosophical shift—moving technology away from intrusive control schemes and toward seamless, intuitive interactions. This evolution supports the development of technology that responds naturally to human movement, setting a new standard in human-computer interaction.

    Additional Insights and Market Context

    The white paper also provides detailed comparisons between major products including Apple’s Vision Pro and Meta’s Orion glasses, exploring the trade-offs between camera-based and wearable neural gesture control wristband. The document concludes that while camera-based systems offer initial convenience, neural wearable interfaces will prevail as the gold standard as users seek more practical and comfortable input methods for all-day wear.

    By publicly releasing this white paper to the AR industry, Wearable Devices reaffirms its role as a pioneer in neural gesture control and as a leader in shaping the future of wearable technology. Businesses, developers and innovators are invited to download the full white paper to explore in-depth analyses, research findings and actionable insights.

    The white paper is now available for download on the Wearable Devices website https://www.wearabledevices.co.il/whitepaper

    About Wearable Devices Ltd.

    Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices Is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s ordinary shares and warrants trade on the Nasdaq market under the symbols “WLDS” and “WLDSW”, respectively.

    Forward-Looking Statement Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, 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 our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss the benefits and advantages of our devices and technology; our position as a pioneer in neural gesture control and as a leader in shaping the future of wearable technology; our ability to identify critical challenges and opportunities in the human-computer interaction (HCI) solutions; and the potential of the white paper to help businesses and developers envision new ways to create AR user experiences. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023, filed on March 15, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Relations Contact

    Walter Frank
    IMS Investor Relations
    203.972.9200
    wearabledevices@imsinvestorrelations.com

    Media Contact:

    Steve Schuster
    Rainier Communications
    steve@rainierco.com
    +1-508-868-5892

    The MIL Network –

  • MIL-OSI: Sophos to Acquire Secureworks to Accelerate Cybersecurity Services and Technology for Organizations Worldwide

    Source: GlobeNewswire (MIL-OSI)

    News Summary

    • Secureworks shareholders to receive $8.50 per share in cash
    • Sophos intends to integrate solutions from both companies into a broader and stronger security portfolio for all small, mid- and enterprise customers
    • By combining complementary AI-driven security platforms powered by automated prevention, detection and response, the two organizations can deliver advanced solutions for defeating modern, persistent adversaries even faster
    • The deal is expected to strengthen the security community by bringing together two industry leaders with shared mission-driven cultures

    OXFORD, United Kingdom and ATLANTA, Oct. 21, 2024 (GLOBE NEWSWIRE) — Sophos and Secureworks® (NASDAQ:SCWX), two global leaders of innovative security solutions for defeating cyberattacks, today announced a definitive agreement for Sophos to acquire Secureworks. The all-cash transaction is valued at approximately $859 million. Sophos is backed by Thoma Bravo, a leading software investment firm.

    Sophos’ experience and reputation as a leading provider of managed security services and end-to-end security products, combined with Secureworks’ security operations expertise transformed into the Taegis™ platform, is expected to further deliver complementary advanced MDR and XDR solutions for the benefit of their global customer bases. Together, they will help strengthen the resilience and security posture of global organizations of any size with a combination of security controls, AI, world-class threat intelligence, and two teams with decades of cybersecurity expertise.

    Sophos expects to integrate solutions from both companies into a broader and stronger security portfolio benefiting small, mid- and enterprise customers. This includes Sophos expanding its current portfolio with other new offerings like identity detection and response (ITDR), next-gen SIEM capabilities, operational technology (OT) security, and enhanced vulnerability risk prioritization. As two partner-centric organizations, the combination of Sophos and Secureworks will enable the combined company to expand its market presence to create greater value within the channel and strengthen the overall security community.

    “Secureworks offers an innovative, market-leading solution with their Taegis XDR platform. Combined with our security solutions and industry leadership in MDR, we will strengthen our collective position in the market and provide better outcomes for organizations of all sizes globally,” said Joe Levy, CEO of Sophos. “Secureworks’ renowned expertise in cybersecurity perfectly aligns with our mission to protect businesses from cybercrime by delivering powerful and intuitive products and services. This acquisition represents a significant step forward in our commitment to building a safer digital future for all.”

    Cyber risk continues to escalate, driven by a rampant cybercriminal ecosystem and global geopolitical pressures. Combined, Sophos and Secureworks share a long history of having exceptional threat intelligence, security operations, incident response, and innovative security product capabilities that help organizations defeat these adversaries.

    “Our mission at Secureworks has always been to secure human progress. Sophos’ portfolio of leading endpoint, cloud, and network security solutions – in combination with our XDR-powered managed detection and response – is exactly what organizations are looking for to strengthen their security posture and collectively turn the tide against the adversary,” said Wendy Thomas, CEO, Secureworks. “As Joe and I both believe, this transaction will strengthen our go-to-market offering with Sophos’ global scale, expertise and reputation.”

    Transaction Details
    Under the terms of the agreement, Sophos intends to acquire Secureworks in an all-cash transaction valued at $859 million. Secureworks shareholders, including Dell Technologies (NYSE:DELL), will receive $8.50 per share in cash. This represents a 28% premium to the unaffected 90-day volume-weighted average price (VWAP). The transaction is expected to close in early 2025, subject to customary closing conditions. Additional information regarding this announcement can be found in the Form 8-K filed by Secureworks with the United States Securities and Exchange Commission (SEC) on Oct. 21, 2024.

    Kirkland & Ellis LLP is acting as legal counsel to Sophos and Goldman Sachs & Co. LLC., Barclays, BofA Securities, HSBC Securities (USA) Inc. and UBS Investment Bank are acting as financial advisors and providing debt financing for the transaction. Piper Sandler & Company and Morgan Stanley & Co. LLC are acting as financial advisors to Secureworks and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel.

    About Sophos
    Sophos is a global leader and innovator of advanced security solutions for defeating cyberattacks, including Managed Detection and Response (MDR) and incident response services and a broad portfolio of endpoint, network, email, and cloud security technologies. As one of the largest pure-play cybersecurity providers, Sophos defends more than 600,000 organizations and more than 100 million users worldwide from active adversaries, ransomware, phishing, malware, and more. Sophos’ services and products connect through the Sophos Central management console and are powered by Sophos X-Ops, the company’s cross-domain threat intelligence unit. Sophos X-Ops intelligence optimizes the entire Sophos Adaptive Cybersecurity Ecosystem, which includes a centralized data lake that leverages a rich set of open APIs available to customers, partners, developers, and other cybersecurity and information technology vendors. Sophos provides cybersecurity-as-a-service to organizations needing fully managed security solutions. Customers can also manage their cybersecurity directly with Sophos’ security operations platform or use a hybrid approach by supplementing their in-house teams with Sophos’ services, including threat hunting and remediation. Sophos sells through reseller partners and managed service providers (MSPs) worldwide. Sophos is headquartered in Oxford, U.K. More information is available at http://www.sophos.com.

    About Secureworks
    Secureworks (NASDAQ: SCWX) is a global cybersecurity leader that secures human progress with Secureworks® Taegis™, a SaaS-based, open XDR platform built on 20+ years of real-world detection data, security operations expertise, and threat intelligence and research. Taegis is embedded in the security operations of thousands of organizations around the world who use its advanced, AI-driven capabilities to detect advanced threats, streamline and collaborate on investigations, and automate the right actions.

    Connect with Secureworks via LinkedIn and Facebook or Read the Secureworks Blog

    Cautionary Statement Regarding Forward-Looking Statements

    This communication includes certain disclosures which contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including but not limited to those statements related to the merger of the wholly-owned subsidiary of Sophos, Inc., a Massachusetts corporation (“Parent”) with and into SecureWorks Corp. (the “Company”), with the Company continuing as the surviving corporation and becoming a wholly-owned subsidiary of Parent (the “Merger”), including financial estimates and statements as to the expected timing, completion and effects of the Merger, including the delisting from NASDAQ and deregistration under the Exchange Act the timing of the foregoing. In most cases, you can identify these statements by forward-looking words such as “anticipate,” “believe,” “confidence,” “could,” “estimate,” “expect,” “guidance,” “intend,” “may,” “plan,” “potential,” “outlook,” “should,” and “would,” or similar words or expressions that refer to future events or outcomes. These forward-looking statements, including statements regarding the Merger, are based largely on information currently available to our management and our management’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from historical results or those expressed or implied by such forward-looking statements. Although we believe our expectations are based on reasonable estimates and assumptions, they are not guarantees of performance. There is no assurance that our expectations will occur or that our estimates or assumptions will be correct, and we caution investors and all others not to place undue reliance on such forward-looking statements.

    Important factors, risks and uncertainties that could cause actual results to differ materially from such plans, estimates or expectations include but are not limited to: (i) the completion of the Merger on the anticipated terms and timing, including obtaining regulatory approvals, and the satisfaction of other conditions to the completion of the Merger; (ii) potential litigation relating to the Merger that could be instituted against the Company or its directors, managers or officers, including the effects of any outcomes related thereto; (iii) the risk that disruptions from the Merger (including the ability of certain customers to terminate or amend contracts upon a change of control) will harm the Company’s business, including current plans and operations, including during the pendency of the Merger; (iv) the ability of the Company to retain and hire key personnel, including those with extensive information security expertise; (v) the diversion of management’s time and attention from ordinary course business operations to completion of the proposed transaction and integration matters; (vi) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Merger; (vii) legislative, regulatory and economic developments; (viii) potential business uncertainty, including changes to existing business relationships, during the pendency of the Merger that could affect the Company’s financial performance; (ix) certain restrictions during the pendency of the Merger that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; (x) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, outbreaks of war or hostilities or the COVID-19 pandemic and other public health issues, as well as management’s response to any of the aforementioned factors; (xi) the impact of inflation, rising interest rates, and global conflicts, including disruptions in European economies as a result of the Ukrainian/Russian conflict and the ongoing conflicts in the Middle East, the relationship between China and Taiwan and ongoing trade disputes between the United States and China; (xii) the possibility that the Merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xiii) the ability to obtain the necessary financing arrangements set forth in the commitment letter received in connection with the Merger; (xiv) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger, including in circumstances requiring the Company to pay a termination fee; (xv) the risk that the Company’s stock price may decline significantly if the Merger is not consummated; (xvi) there may be liabilities that are not known, probable or estimable at this time or unexpected costs, charges or expenses; (xvii) those risks and uncertainties set forth under the headings “Cautionary Note Regarding Forward Looking Statements” and “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, as such risk factors may be amended, supplemented or superseded from time to time by other reports filed by the Company with the Securities and Exchange Commission (the “SEC”) from time to time, which are available via the SEC’s website at http://www.sec.gov; and (xviii) those risks that will be described in the information statement that will be filed with the SEC and available from the sources indicated below.

    These risks, as well as other risks associated with the Merger, will be more fully discussed in the information statement that will be filed with the SEC in connection with the Merger. There can be no assurance that the Merger will be completed, or if it is completed, that it will close within the anticipated time period. These factors should not be construed as exhaustive and should be read in conjunction with the other forward-looking statements. The forward-looking statements relate only to events as of the date on which the statements are made. The Company does not undertake to update, and expressly disclaims any obligation to update, any of its forward-looking statements, whether resulting from circumstances or events that arise after the date the statements are made, new information, or otherwise. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. We caution that you should not place undue reliance on any of our forward-looking statements. You should specifically consider the factors identified in this communication that could cause actual results to differ. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect the Company.

    Important Additional Information and Where to Find It

    This communication is being made in connection with the pending Merger. The Company plans to file an information statement on Schedule 14C for its stockholders with respect to the Merger. The information statement will be mailed to stockholders of the Company. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. STOCKHOLDERS ARE URGED TO READ THE INFORMATION STATEMENT AND ANY OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER. Stockholders will be able to obtain, free of charge, copies of such documents filed by the Company when filed with the SEC in connection with the Merger at the SEC’s website (http://www.sec.gov). In addition, the Company’s stockholders will be able to obtain, free of charge, copies of such documents filed by the Company at the Company’s website (investors.secureworks.com) or by e-mailing the Company’s Investor Relations department at investorrelations@secureworks.com. Alternatively, these documents, when available, can be obtained free of charge from the Company upon written request by mail to SecureWorks Corp., Investor Relations, One Concourse Parkway NE, Suite 500, Atlanta, Georgia 30328.

    Press Contacts
    Susie Evershed
    press@secureworks.com

    Kelly Kane
    Kelly.Kane@sophos.com

    The MIL Network –

  • MIL-OSI Economics: With Copilot agents, Pets at Home unleashes an AI revolution

    Source: Microsoft

    Headline: With Copilot agents, Pets at Home unleashes an AI revolution

    After creating a platform in Azure that unites the data from its various operations, the company is focusing on the potential of AI, he said. Pets at Home is an early adopter of Microsoft Copilot Studio, where a business can create AI agents to act in support of different areas of the business. It coincides with Microsoft’s announcement October 21 of the ability to create autonomous agents to help build capacity for every sales, service, finance and supply chain team. 

    With early access to agent-building features in Copilot Studio, Pets at Home created an agent to help its retail fraud detection team investigate suspicious transactions. The company is planning on creating other agents to assist its colleagues in other areas. 

    It’s part of the company’s embrace of a range of AI services across departments. For veterinary colleagues, that means saving time on administrative tasks to be able to spend more time focused on patients. For the business as a whole, that means unifying the data from its different operations to create a better customer experience. 

    “We have some fantastic data – there are 8 million customers in our Pets Club, with 10 million pets,” he said. “We’re using machine learning and AI algorithms to produce recommendations for next best actions.”  

    “We can give information to our colleagues in our pet care centers about our customers’ pets, and what they would typically buy or need at their life stage. We can bring that same data to life across our organization so that we’re really relevant to customers, and we’re helping them make the best decisions for their pet, whether they are in a store, online or at the veterinary practice.”

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: ITU-WTSA 24 Robotics for good youth challenge India was held on Oct 17, 2024 at Bharat Mandapam, New Delhi

    Source: Government of India (2)

    ITU-WTSA 24 Robotics for good youth challenge India was held on Oct 17, 2024 at Bharat Mandapam, New Delhi

    Student from across 11 states participatedin ITU-WTSA Robotics Challenge to vie forreliable innovative technology solutions for addressing Disasters

    The event aims toShowcase of practical solutions in robotics to advance the United Nations’ Sustainable Development Goals (SDGs)

    Posted On: 19 OCT 2024 9:02AM by PIB Delhi

    The International Telecommunication Union (ITU) – World Telecommunication Standardization Assembly (ITU-WTSA-2024) being held in New Delhi, hosted a Robotics for Good Youth Challenge as a side event.It is a prestigious National Event that is being held, as part of AI for Good Impact India, and is a qualifying tournament for the Grand Finale in Geneva during the AI for Good Global Summit 2025. Young innovators demonstrated their skills in robotics and coding in this event.

    A total of 120 teams had applied, out of which 51 were selected to present their robotics solutions here at the Robotics for Good Youth Challenge. The theme for the competition was disaster management and the winners of the junior and senior categories will go to Geneva in July 2025 to compete internationally.  The competition objectives are as follows

    • Foster inclusivity in learning robotics and coding for all students.
    • Design, build, and program robots to complete missions aligned with sustainable goals.
    • Encourage teamwork, problem-solving, and sustainable practices.

    The first challenge for the participants was to build a robotics system that saves the lives of earthquake victims. A simulation was run to mimic a real earthquake where the robots were programmed to save lives and deliver the victims to shelters and hospitals.

     

    The event witnessed Key note speeches from Mr. Tomas Lamanauskas- Deputy Secretary General ITU, Dr. Neeraj Mittal: Secretary, Department of Telecommunications. Seizo Onoe, Director of the Telecommunication Standardization Bureau (TSB), ITU Mr. Manish Sinha,Member (Finance) of Digital Communications Commission, DoT.  Other special guests includes Ms. Doreen Bogdan-Martin Secretary General, ITU,  Prof. S. K. Saha, Project Director, I-Hub Foundation for Cobotics (IHFC).

     

    The challenge concluded with an awards ceremony, where the winners in the Senior category were Team “AI Pioneers” from “Delhi Public School, Mathura Road, Delhi” & the Junior category award went to Team “Rescue Rangers” from “Sant Atulanand Convent School, Koirajpur, Varanasi, Uttar Pradesh (UP)”.

    ITU-WTSA 2024: Shaping the Future of Global Telecommunications

    Today’s events underscored the commitment of the World Telecommunication Standardization Assembly to advance technology for social good and public health. By bringing together diverse stakeholders, WTSA 2024 continues to pave the way for innovation that addresses critical global issues.

     

    ******

    SB/DP/ARJ

    (Release ID: 2066263) Visitor Counter : 12

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: “Wholly Irreplaceable”—Endangered Species in Saint Vincent and the Grenadines and the CITES Convention

    Source: US Global Legal Monitor

    The following is a guest post by Jai-Len Williams, a foreign law intern in the Global Legal Research Directorate of the Law Library of Congress.

    On July 1, 2024, category four Hurricane Beryl devastated the multi-island state of Saint Vincent and the Grenadines. The livelihood of the Vincentian people, especially in the Southern Grenadines islands of Union Island, Mayreau, and Canouan, was severely impacted. Today, families are still displaced and recovery efforts are ongoing.

    Union Island Gecko, photo by the Union Island Environment Alliance (UIEA) photographer Jeremy Holden. Used with UIEA permission

    The impact on the ecosystem is also of concern. On the Grenadine island of Union Island, there lives a rare, bejeweled, and beautiful lizard called the Union Island Gecko (Gonatodes daudini), also known as the Grenadines clawed gecko. It was described as “wholly irreplaceable” by the Caribbean Natural Resources Institute in their report titled “The Caribbean Islands Biodiversity Hotspot.” From its discovery in 2005, the Union Island Gecko was so named because it is only known to live in about 123 acres (50 hectares) of the Chatham Bay Forest area of Union Island. It is not only unique but also tiny, as it is considered to be about the size of a paperclip. It is listed as “Critically Endangered” by the IUN Red List. The Wildlife Protection Act of 1987 protects wildlife from being removed from St Vincent and the Grenadines. However, there was no protection on the gecko under international law. In 2019, at the 18 Meeting of the Conference of the Parties in Geneva Switzerland, a decision was taken for the endemic lizard to be added to Appendix 1 of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) to protect its survival, prevent over-harvesting for the international pet trade, and destruction of its habitat.

    Over the years, with assistance from residents and local, regional and international organizations, including the Saint Vincent and the Grenadines Forestry Department, the Saint Vincent and the Grenadines Environmental Fund, the Union Island Environment Alliance, the Caribbean Biodiversity Fund, Fauna & Floral, Virginia Zoo, Re:Wild, the BBC, National Geographic, Disney Conservation Fund, the United Nations Development Programme (UNDP), and the United States Agency for International Development (USAID), the conservatory efforts reaped the reward of an increase in the gecko population. According to a 2022 survey, there was an 80% increase in the population of the Union Island Gecko.

    However, due to the devastating impacts of the recent passage of Hurricane Beryl on Union Island, as of July 2024, according to the Director of Forestry, Fitzgerald Providence, the Chatham Bay Forest area was seen to have total defoliation and the status of the Union Island gecko population is unknown. After the recent assessment carried out by the forestry department, Wildlife supervisor Glenroy Gaymes stated that with the forest destruction, the gecko is impacted, as it has shown signs of distress and habitat disruption. As a result, the forestry department is looking at the way forward, which is to mitigate the impact by restoring the gecko’s habitat, community engagement and monitoring programs.

    Another endemic specie, the Amazona Guildingii—the national bird of Saint Vincent and the Grenadines has also had its fate tested by natural disasters affecting its habitat on mainland Saint Vincent. Most recently, it has suffered from the April 2021 series of explosive eruptions of the La Soufriere volcano. The Amazona Guildingii is an exotic multicolored parrot whose habitat includes the northern forest of the island, near the slopes of the volcano.

    The Amazona Guildingii is also listed in Appendix 1 of CITES. According to the Director of Saint Vincent and the Grenadines Forestry Department, their assessment showed that while in 2021, there was an Amazona Guildingiiparrot that suffered and later died due to ash inhalation, many of the parrots managed to survive by migrating from the Red Zones to the safer zones.

    Long live the Union Island Gecko and the Amazona Guildingii!

    For more information on CITES and endangered species protection on a national and international level, please consult the following selected In Custodia Legis resources:

    • Elin Hofverberg, Can you Legally Import a Toucan? No, you Probably Cannot (guest post by Elizabeth Boomer, September 20, 2021)
    • Jenny Gesley, Grizzly Bears and the Endangered Species Act ( July 28, 2021)
    • Hanibal Goitom, Law Library of Congress Report on Regulations Concerning the Private Possession of Big Cats (guest post by Laney Zhang, October 21, 2013)
    • Hanibal Goitom, Law Library Report on Wildlife Trafficking and Poaching (April 9, 2013)
    • Laney Zhang, Baby Pandas and the Law: In Memory of Mei Xiang’s Cub (September 27, 2012)

    Subscribe to In Custodia Legis – it’s free! – to receive interesting posts drawn from the Law Library of Congress’s vast collections and our staff’s expertise in U.S., foreign, and international law.

    MIL OSI USA News –

  • MIL-OSI: Carronade Capital Urges Frontier Communications Shareholders to Vote Against Sale to Verizon on Current Terms

    Source: GlobeNewswire (MIL-OSI)

    DARIEN, Conn., Oct. 21, 2024 (GLOBE NEWSWIRE) — Carronade Capital, an alternative asset management firm, which beneficially owns approximately 2,000,000 shares of Frontier Communications Parent, Inc. (NASDAQ: FYBR) today released a letter to fellow Frontier shareholders. The full text of the letter is below:

    October 21, 2024

    Dear Fellow Frontier Shareholder:

    Carronade Capital Management, LP (“Carronade” or “we” or “us”) is a registered investment manager with approximately $2 billion in assets under management. Funds managed by Carronade beneficially own approximately 2,000,000 shares of Frontier Communications Parent, Inc. (“Frontier” or “Company”).

    Put plainly, we believe that the current offer by Verizon Communications Inc. (“Verizon”), to acquire the Company at $38.50 per share (the “Proposed Transaction”), is insufficient compared to the intrinsic value of the Company. Based on our decades of investment experience and extensive research, we believe that Frontier has an intrinsic value of at least $48.60 per share on a standalone basis – and that is before a fair share of the unique synergy value this transaction brings to Verizon.

    The Proposed Transaction with Verizon does NOT represent fair value to Frontier shareholders. As such, Carronade does NOT support the Proposed Transaction in its current form and encourages our fellow shareholders to vote against the Proposed Transaction if you agree.

    Financial Analysis Supports Higher Share Price

    There are a number of thorough third-party analyses that support a higher standalone valuation range for Frontier. Some recent estimates range from $47.88 to $60+ per share before any synergy value12. Rather than repeat the same, very valid, similar per passing valuation, comparative multiple valuation, or DCF analysis, which all support a higher price, we offer the following straight forward precedent transaction analysis.

    The most recent and relevant fiber transactions valuations (Metronet/T-Mobile, Lumos/T-Mobile, and Horizon/Shenandoah) have been valued in the low to mid 20’s x TEV/EBITDA34. If we were to look at Frontier’s Fiber only EBITDA5 and use a substantial discounted multiple of 15x, this supports $48.60 per share before any synergies. This analysis excludes any value on the existing non-fiber business, which generated $756mm of LTM EBITDA5. Further this conservative valuation also assigns no value to the assumed net operating losses, cost synergies or incremental revenue and growth opportunities enabled pro forma for the combination.

     

    Synergies All Accrue to Verizon

    As established above, the existing fiber passings and current level of EBITDA generation more than support a higher share price alone. But the offer price becomes even more difficult to understand given the vast benefits and synergies that accrue solely to Verizon. Verizon provided its own view of the transaction post announcement:

    “We said at least $500 million of opex run rate synergies, and we’re very confident in the synergy goal. And obviously, we’ll push for more.” 6

    “There’s nothing in there from a capex perspective at this point. So the $500 million is just literally opex synergies at this point.” 6

    Verizon implies upside to the “disclosed” synergies which are driven off of operating costs, but logically could expect some savings on a capital expenditure perspective as well.

    “When we do convergence the way Verizon likes it, it tends to be revenue and EBITDA accretive to us. A lot of that relies on the fact that we see a 50% reduction in mobility churn when we bring the two products together in front of the customer and a 40% reduction in fiber churn when we do that. That translates into accretion, both on revenue and EBITDA, immediately.” 6

    “Verizon will also extend our premium offerings and experiences to Frontier’s customers as part of this transaction.” 6

    “We also believe there will be opportunity to generate revenue from mobile and home conversions, including cross-selling benefits.” 6

    “We will bring the power of the Verizon retail fleet to bear and our distribution in the Frontier markets. And with that, you’re going to see higher penetration pretty soon once we close on the transaction.” 6

    Verizon is making clear that there are incremental financial benefits to its existing wireless business and further benefits from new premium offerings and cross selling opportunities with Frontier added into its asset base.

    To summarize, the synergy benefits come in the following forms:

    1) Disclosed operating cost synergies which Verizon implies are conservative

    2) Significant benefits to Verizon’s existing wireless business across the Frontier territory pro-forma

    3) Increases in revenue through premium offerings/cross selling and higher penetration

    We believe Frontier shareholders should get a fair and reasonable share of the value created by this transaction. Moreover, points #2 and #3 above are benefits to Verizon’s existing core business that do not occur without Frontier.

    Critical Asset to Verizon

    Carronade’s knowledge and research of the industry lead us to the inescapable conclusion that there is not a fiber platform available that gives Verizon the incremental scale and benefits that Frontier offers. Verizon’s public comments make that very clear, again in its own words:

    “…together, Verizon and Frontier have a combined 25 million fiber passings in 31 states and Washington DC, with networks that can be immediately integrated after closing. …Frontier will give Verizon access to high-quality customer base in markets nationwide that are highly complementary with our Northeast and Mid-Atlantic focus.” 6

    “With Frontier’s fiber added to our portfolio, we will be the only carrier that will have the size and scale in both fiber and fixed wireless access.” 6

    “At closing, this acquisition will significantly expand Verizon’s fiber footprint, accelerating our delivery of premium mobility and broadband services to current and new customers. It will also power Verizon’s Intelligent Edge Network for digital innovation like AI and IoT.” 6

    “We looked at buy versus build, of course, and it was a pretty easy calculation, accretive from the day of the acquisition, both on revenue growth, as well as EBITDA, maybe one year later on EPS and cash flow….” 7

    Frontier is unique in its scale and fit with Verizon. It accelerates the convergence trend in a way that no other acquisition can match. The bottom line is that we believe Verizon needs Frontier more than Frontier needs Verizon.

    Rushed Vote Harms Shareholders

    From our read of the proxy, no shareholders appear to have been consulted nor executed any voting support agreements with respect to the Proposed Transaction. The seeming lack of shareholder input struck us as particularly surprising given the number of very large long-term holders. Additionally, the final proxy was filed after the market close on October 7, 2024 and disenfranchised shareholders by selecting that very same day as the record date. By releasing the proxy after trading hours on the selected day, it had the effect of limiting a shareholder’s full review of the definitive proxy prior to the passage of the record date.

    The Proposed Transaction will have a lengthy regulatory approval process as is customary for this industry. Given this uncertainty around the timing of close, and the significant inflection in results the Company is expecting8, the shareholders should have time to evaluate all the disclosure prior to setting the record date. We believe it is likely that Verizon is trying to rush to get the deal approved prior to shareholders realizing how much value they are leaving on the table.

    We have reached out to the shareholder advisory firms to share our views surrounding the subpar economics of the Proposed Transaction and rushed process that harms shareholders. We encourage other shareholders with similar concerns to do the same.

    Summary

    In summary, we believe it is abundantly clear that Frontier shareholders are not being offered a fair value at the Proposed Transaction price of $38.50 per share. We agree with Verizon management, that with the combination of Frontier and Verizon, Verizon gets scale and reach in a way that no other acquisition offers. We also agree that the synergies are not only very significant and real, that they are likely considerably understated, and that there are numerous benefits to the existing wireless business and significant revenue growth levers to pull that come only with a transaction with Frontier. Frontier shareholders are being rushed to approve the Proposed Transaction.

    For all of the reasons above, we intend to vote against the Proposed Transaction on its current terms. We believe all shareholders should vote no, until we can get a fair share of the value created from the combined enterprise.

    Sincerely,

    Dan Gropper
    Managing Partner
    Chief Investment Officer     		 Andy Taylor
    Managing Director
    Director of Research
       

    About Carronade Capital

    Carronade Capital is an alternative asset management firm founded in 2019 by industry veteran Dan Gropper, and based in Darien, Connecticut. The Fund managed by Carronade Capital was launched on July 1, 2020 and the firm employs 15 team members. Dan Gropper brings with him nearly three decades of special situations credit experience serving in senior roles at distinguished investment firms, including Aurelius Capital Management, LP, Fortress Investment Group and Elliott Management Corporation.

    Disclaimers

    THIS IS NOT A SOLICITATION OF AUTHORITY TO VOTE YOUR PROXY. DO NOT SEND US YOUR PROXY CARD. CARRONADE CAPITAL IS NOT ASKING FOR YOUR PROXY CARD AND WILL NOT ACCEPT PROXY CARDS IF SENT. CARRONADE CAPITAL IS NOT ABLE TO VOTE YOUR PROXY, NOR DOES THIS COMMUNICATION CONTEMPLATE SUCH AN EVENT.

    This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any state to any person. This press release does not recommend the purchase or sale of a security. There is no assurance or guarantee with respect to the prices at which any securities of Frontier Communications Parent, Inc. (the “Company”) will trade, and such securities may not trade at prices that may be implied herein. In addition, this press release and the discussions and opinions herein are for general information only, and are not intended to provide financial, legal or investment advice. Each shareholder of the Company should independently evaluate the proxy materials and make a decision that aligns with their own financial interests, consulting with their own advisers, as necessary.

    This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and may include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “will be” and similar expressions. Although Carronade Capital (“Carronade “) believes that the expectations reflected in forward-looking statements contained herein are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties—many of which are difficult to predict and are generally beyond the control of Carronade or the Company—that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. In addition, the foregoing considerations and any other publicly stated risks and uncertainties should be read in conjunction with the risks and cautionary statements discussed or identified in the Company’s public filings with the U.S. Securities and Exchange Commission, including those listed under “Risk Factors” in the Company’s annual reports on Form 10-K and quarterly reports on Form 10-Q and those related to the Pending Transaction (as defined below). The forward-looking statements speak only as of the date hereof and, other than as required by applicable law, Carronade does not undertake any obligation to update or revise any forward-looking information or statements. Certain information included in this press release is based on data obtained from sources considered to be reliable. Any analyses provided herein is intended to assist the reader in evaluating the matters described herein and may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results. Accordingly, any analyses should not be viewed as factual and should not be relied upon as an accurate prediction of future results. All figures are estimates and, unless required by law, are subject to revision without notice.

    Carronade’s fund currently beneficially owns shares of the Company. This fund is in the business of trading (i.e., buying and selling) securities and intends to continue trading in the securities of the Company. You should assume this fund will from time to time sell all or a portion of its holdings of the Company in open market transactions or otherwise, buy additional shares (in open market or privately negotiated transactions or otherwise), or trade in options, puts, calls, swaps or other derivative instruments relating to such shares. Consequently, Carronade’s beneficial ownership of shares of, and/or economic interest in, the Company may vary over time depending on various factors, with or without regard to Carronade’s views of the pending transaction involving the Company and Verizon Communications (the “Pending Transaction”) or the Company’s business, prospects, or valuation (including the market price of the Company’s shares), including, without limitation, other investment opportunities available to Carronade, concentration of positions in the portfolios managed by Carronade, conditions in the securities markets, and general economic and industry conditions. Without limiting the generality of the foregoing, in the event of a change in the Company’s share price on or following the date hereof, Carronade’s fund may buy additional shares or sell all or a portion of its holdings of the Company (including, in each case, by trading in options, puts, calls, swaps, or other derivative instruments relating to the Company’s shares). Carronade also reserves the right to change the opinions expressed herein and its intentions with respect to its investment in the Company, and to take any actions with respect to its investment in the Company as it may deem appropriate, and disclaims any obligation to notify the market or any other party of any such changes or actions, except as required by law.

    Media Contact:

    Paul Caminiti / Jacqueline Zuhse
    Reevemark
    (212) 433-4600
    Carronade@reevemark.com

    ______________________________________
    1     Cooper Investors Pty Ltd: “standalone valuation” from letter dated 10/15/24.
    2 NewStreet Research: “standalone floor value” research dated 10/8/24
    3 NewStreet Research: comparative transactions – research dated 10/8/24.
    4 Shentel: investor presentation 10/25/23
    5 Frontier: 2Q24 Trending Schedule
    6 Verizon conference call – 09/05/24
    7 Verizon GS Communacopia transcript – 09/09/24
    8 Definitive Proxy – Standalone Adjusted EBITDA Projections – 10/07/24

    A photo accompanying this announcement is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/72af8ea1-1cf9-41da-9199-7af773c626c6

    The MIL Network –

  • MIL-OSI Canada: Minister Valdez kicks off Small Business Week 2024 by highlighting the Government of Canada’s commitment to supporting small businesses

    Source: Government of Canada News

    The Honourable Rechie Valdez, Minister of Small Business, made the following statement today in recognition of Small Business Week:

    October 20, 2024 – Ottawa, Ontario

    The Honourable Rechie Valdez, Minister of Small Business, made the following statement today in recognition of Small Business Week:

    “Small Business Week is a great occasion to celebrate Canada’s incredible small businesses. They may be small, but they have a huge impact. They make up 98% of all businesses in Canada, account for nearly half of the country’s private sector jobs and generate at least one third of our economic output.

    “Our government is taking action to ensure these businesses have the support they need to succeed today and compete in a rapidly changing business environment.

    “We are reducing costs, lowering fees and boosting small businesses’ bottom lines. We fulfilled our commitment to lower taxes for small businesses to 9%. We then kept taxes low for more small businesses by raising the income threshold for the small business tax rate from $15 million to $50 million, and we negotiated with Visa and Mastercard to lower credit card interchange fees by up to 27%, effective October 19, 2024. This will save eligible Canadian businesses about $1 billion over five years. We have also improved the Canada Small Business Financing Program by providing additional and more flexible loan and financing options for small businesses, while cutting the administrative burden.

    “Before the end of this year, eligible small and medium-sized businesses will also receive the Canada Carbon Rebate for Small Businesses directly into their bank accounts. For example, an eligible small business in Winnipeg with 10 employees will receive $4,810, a small business in Mississauga with 50 employees will receive $20,050, and a medium-sized business in Calgary with 200 employees will receive $118,200.

    “To ensure small businesses can keep up with emerging technologies and compete in an increasingly digital business environment, we’ve committed $2.4 billion to help secure Canada’s AI advantage. This includes $100 million to help small and medium-sized businesses scale up and increase productivity by building and deploying new AI solutions. Through the Canada Digital Adoption Program, we have invested $1 billion to help over 60,000 small businesses grow their business online and boost their business technologies.

    “We are also building an inclusive economy. We are dedicated to supporting under-represented communities through historic programs like our nearly $7 billion Women Entrepreneurship Strategy, which helps women entrepreneurs access the resources they need to start up and scale up their business. We also established programs like the Black Entrepreneurship Program and the 2SLGBTQI+ Entrepreneurship Program, which are helping remove systemic barriers that entrepreneurs from under-represented groups face in accessing the resources they need.

    “In July, I announced an investment of $25 million in five more venture capital (VC) fund managers as part of the inclusive growth stream of the renewed Venture Capital Catalyst Initiative committed to in Budget 2021. The inclusive growth stream will help advance equity, diversity and inclusion in the Canadian VC ecosystem by increasing access to capital for diverse fund managers and entrepreneurs.

    “To encourage young Canadians to pursue entrepreneurship, in Budget 2024 we committed $60 million to Futurpreneur Canada to provide young entrepreneurs with an extra year of collateral-free lending and increase their maximum collateral-free loan from $60,000 to $75,000. On top of this, young entrepreneurs that have been in business for up to two years will now be eligible for Futurpreneur loans. Futurpreneur’s Side Hustle Program will also increase its loans from $15,000 to $25,000.

    “I would like to take this moment to express my sincere appreciation for all of Canada’s small business owners. Investing in diverse entrepreneurs is among the most meaningful actions we can take to build a strong, inclusive economy. We remain committed to supporting you as you adapt and strive for continued success.

    “I invite all Canadians to join me in supporting our local businesses during Small Business Week and to keep doing so every week thereafter. Together, we will build a strong and resilient economy for all Canadians.”

    Media Relations
    Innovation, Science and Economic Development Canada
    media@ised-isde.gc.ca

    For easy access to government programs for businesses, download the Canada Business app.

    MIL OSI Canada News –