NewzIntel.com

Category: Machine Learning

  • MIL-OSI United Kingdom: South China Sea conference 2024: speech by UK Minister for the Indo-Pacific

    Source: United Kingdom – Executive Government & Departments

    Minister Catherine West gave a keynote speech to the South China Sea conference in Ha Long, Vietnam.

    Location:
    Ha Long, Vietnam
    Delivered on:
    (Transcript of the speech, exactly as it was delivered)

    Good morning everybody, and it’s lovely to be here on such a perfect morning with those beautiful mountains and sea in front of us.

    As we’ve heard from Dr Dung and Vice Minister Viet, thank you to our local government partners who’ve put on such a beautiful event for us. And thank you to our Indonesian collaborator who spoke first, it was so good to hear from him.

    In the UK we have a relatively new government, elected in July this year…

    … and many people have asked me as the new Minister for the Indo-Pacific, “how do we know that the UK is committed to the Indo-Pacific?”.

    After three weeks my boss, David Lammy, who is the Foreign Secretary, visited Vientiane as part of the ASEAN discussions and this is my third country in the region to visit since July.

    So we know that working together with European partners and with others in the region, we can be allies with all of the partners in ASEAN and we can join together to have a very good discussion about peace and security.

    On Monday, I will go to Manila for the Women, Peace and Security conference, which will I think create a really deep understanding for myself as a new Minister as to the challenges in the region. And also the importance of promoting women’s leadership around this area of partnerships, rooted in respect and mutual trust. 

    Positioning the UK as a long-term reliable partner of the Indo-Pacific, underpinned by a shared respect for ASEAN leadership and centrality. And after that conference I will return to the UK, bringing back news of the conference and your thoughts.

    Because we know that after nearly 25 years of the landmark UN Security Council Resolution 1325,… 

    …in which the UK played a leading role,… 

    …I will underline that our commitment to advancing participation in conflict prevention, reduction and resolution is unwavering, both in ASEAN but also globally.  

    And it is in the same spirit that I join you here today, to set out the UK’s support for collective efforts to maintain regional security and uphold international law.

    Global Maritime Security  

    Let me begin by stating unambiguously that the UK wants a free and open Indo-Pacific.  

    Because put simply, our collective global prosperity hinges on keeping the vital sea-lanes in the South China Sea open. Or the East Sea, as I believe in Vietnam you call it.

    Our shared security interests also demand that we stand-up for principles of sovereignty and territorial integrity… 

    …through the international legal framework that protects these principles,… 

    …for example, the UN Convention on the Law of the Sea – or UNCLOS as we call it.    

    But it’s not just the Indo-Pacific.   

    Undermining international law in any situation, in any context… 

    … has the potential to corrode the wider system of global governance that protects security and prosperity. 

    Take for example the sustainable development goals.  

    We can hardly hope to achieve those goals without peace and security spurring on economic growth.  

    And all of that relies heavily on having stable seas where the rule of law is upheld.  

    And this year we’ve seen a serious and sustained series of incidents,… 

    …representing one of the sharpest spikes in tensions over recent years.  

    The use of water cannons, blocking, and ramming manoeuvres have interfered… 

    …with Philippine rights and freedom of navigation.  

    These actions, and the responses they may incite, raise the risk of serious miscalculation… 

    …as well as posing a direct threat to international law. 

    And last month Chinese law enforcement attacked Vietnamese fishermen, leaving them seriously injured.  

    The grave risk of instability and escalation that these incidents pose is a significant concern for the international community. 

    Not just because of the impact it could have on global prosperity and security, but also on livelihoods and local biodiversity.   

    That is why the UK has and will continue to protest any action which threatens peace and stability… 

    …or seeks to undermine the primacy of UNCLOS.  

    Keeping the South China Sea safe is our priority. 

    And the only way we can achieve that is by working together with partners including those represented here today.  

    Climate and nature security 

    Now another crucial element to our security and prosperity is climate and nature.

    After this session I will be going to visit some of the areas affected by Typhoon Yagi, to understand more deeply how the Red Cross is working to mitigate those terrible floods and hear from local people as to how they’re managing about those floods.

    We were among the first countries to sign the Biodiversity Beyond National Jurisdiction Agreement… 

    …and we remain focussed on its ratification.   

    Home to over a third of world’s coral reefs – this region is critical… 

    …to halting and reversing the loss of the natural ecosystem. 

    Rising sea levels risk leading to worsening maritime disputes. 

    And we cannot tackle the various risks unless we understand them well.  

    So the UK is using its expertise to help.  

    For example, the UK Met Office is studying how changes in sea surface temperature affect migratory fish and coastal ecosystems,… 

    …playing a role not just on food security but also on addressing the poor environmental impact of rising temperatures.

    Back home, we have also set a landmark goal – to be the first major economy to deliver clean energy power by 2030.  

    But acting alone is not a solution.  

    That is why we want to work with you and partners across the world to accelerate the clean energy transition. 

    So we are boosting progress by building on existing programmes. 

    Such as the Just Energy Transition Partnerships – JETP – in Indonesia and Vietnam,… 

    …supporting innovative clean energy… 

    …and the expansion of grids and storage. 

    Growth and Technology 

    Technology also plays a key role… 

    …and is something the UK is keen to harness to help solve global challenges.  

    Modern maritime ecosystems is becoming increasingly interconnected and digital in its nature.  

    And more and more sophisticated technology supports improved port operations across the globe,… 

    …the development of Autonomous Surface Ships will reduce the number of seafarers needed to operate a vessel. 

    We know how essential undersea telecoms cables are.  

    And they will only grow in importance with the use of AI becoming more widespread.  

    That is why the UK is working transparently with partners to develop inclusive global norms and standards… 

    …for the responsible and ethical use of technology and AI, including in maritime contexts. 

    Working together 

    Finally, we know that we live in a rapidly changing world where the more closely we work, the stronger we are.   

    Next year, the UK will hold its third Regional Maritime Security Symposium in Southeast Asia to discuss collaboration on a range of maritime issues. 

    It’s so encouraging to be here today and to work with Asia-Pacific partners, and as I speak, HMS Spey and HMS Tamar, our two Offshore Patrol Vessels, continue their operations in the Indo-Pacific,… 

    …exercising with partners,… 

    …responding to humanitarian disasters,… 

    …and tackling maritime challenges.

    Thank you so much for the opportunity to speak today, and I look forward to questions afterwards.

    Thank you.

    Updates to this page

    Published 23 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Africa: Kaspersky uncovers new Grandoreiro light variant, the threat also expands to Asia and Africa

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

    JOHANNESBURG, South Africa, October 23, 2024/APO Group/ —

    Despite the arrest of important operators in early 2024, Grandoreiro continues to be used by its partners in new campaigns. Kaspersky Global Research and Analysis team (GReAT) (www.Kaspersky.co.za) has discovered a new light version focused on Mexico targeting around 30 banks. These findings are to be highlighted at the Security Analyst Summit (SAS) 2024. Remaining one of the most active threats globally and targeting users of more than 1,700 banks, Grandoreiro variants account for around five percent of banking trojan attacks this year.  Mexico is one of the most targeted countries by various Grandoreiro strains, including the new light version, seeing 51,000 recorded incidents this year.

    Kaspersky data indicates Grandoreiro has been active since 2016. In 2024, the threat targets more than 1,700 financial institutions and 276 cryptocurrency wallets across 45 countries and territories, lastly adding Asia and Africa to the list of its targets, making it a truly global financial threat. Among countries affected in Africa are Algeria, Angola, Ethiopia, Ghana, Ivory Coast, Kenya, Mozambique, Nigeria, South Africa, Tanzania, Uganda.

    After assisting an INTERPOL-coordinated action, which has led to Brazilian authorities arresting (http://apo-opa.co/3BUqgrb) operators behind a Grandoreiro banking trojan operation, Kaspersky discovered that the group’s codebase has been split into lighter, fragmented versions of the trojan, to continue its attacks. Recent analysis has identified a specific light version focused primarily on Mexico, which has been used to target approximately 30 financial institutions. The creators likely have access to the source code and are launching new campaigns using the simplified legacy malware.

    “All the recent developments underscore the evolving nature of the threat. Fragmented and lighter versions may represent a trend that could extend beyond Mexico and into other regions, including beyond Latin America. However, we believe that only some trusted affiliates have access to the malware source code to develop such lighter versions. Grandoreiro operates differently from the traditional ‘Malware-as-a-Service’ model we are accustomed to. You won’t find announcements on underground forums selling the Grandoreiro package; instead, access to it appears to be limited,” explains Fabio Assolini, head of the Latin American (GReAT) at Kaspersky.

    Multiple variants of Grandoreiro, including the new light version and the primary malware, accounted for approximately five percent of global banking trojan attacks detected by Kaspersky in 2024, making it one of the most active threats worldwide. Kaspersky has also analysed the newer samples of the primary Grandoreiro from 2024, and observed new tactics. It records mouse activity to mimic real user patterns, aiming to evade detection by machine learning-based security systems that analyse behaviour. By replaying natural mouse movements, the malware aims to trick anti-fraud tools into seeing the activity as legitimate.

    Additionally, Grandoreiro has adopted a cryptographic technique known as Ciphertext Stealing (CTS), which Kaspersky has never seen being used in malware. In this case, its aim is to encrypt the malicious code strings. “Grandoreiro has a large and complex structure, which would make it easier for security tools or analysts to detect if its strings were not encrypted. This is likely why they introduced this new technique – to complicate the detection and analysis of their attacks,” Fabio Assolini elaborated.

    To protect from financial malware, Kaspersky security experts recommend organisations to:

    • Enable a Default Deny policy for critical user profiles, particularly those in financial departments; this ensures that only legitimate web resources can be accessed.
    • Provide cybersecurity awareness training (http://apo-opa.co/4e3nlKa) to staff, especially to employees responsible for accounting, that includes instructions on how to detect phishing pages.
    • Use protection solutions for mail servers with anti-phishing capabilities such as Kaspersky Security for Mail Server, to decrease the chance of infection through a phishing email.

    While banks should educate its customers, individuals are advised to:

    • Never open links or documents included in unexpected or suspicious-looking messages. Be attentive to web pages – from the right web address to details of interface.
    • Use a reliable security solution, such as Kaspersky Premium (http://apo-opa.co/4dWrbEW), that protect digital assets from a wide range of financial cyberthreats.
    • Install only applications obtained from reliable sources.
    • Refrain from approving rights or permissions requested by applications without first ensuring they match the application’s feature set.
    • Install the latest updates and patches for all software used.

    Read more on Securelist (http://apo-opa.co/3C4N5bD). The comprehensive Grandoreiro analysis and overview is to be presented by GReAT at Kaspersky’s sixteenth Security Analyst Summit (SAS) (http://apo-opa.co/3BPHtly), which takes place from October 22-25, 2024, in Bali.

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Donanemab licensed for early stages of Alzheimer’s disease in adult patients who have one or no copies of apolipoprotein E4 gene

    Source: United Kingdom – Executive Government & Departments

    The Medicines and Healthcare products Regulatory Agency (MHRA) has today, 23 October 2024, approved a licence for the medicine donanemab (Kisunla) for use in the early stages of Alzheimer’s disease, following a thorough review of the benefits and risks.

    Donanemab works by removing a sticky protein called beta-amyloid from the brain that is believed to cause Alzheimer’s disease, and in the trials conducted the medicine showed some evidence of efficacy in slowing its progression.

    As for any new medicine, this decision was made with expert scientific advice on the benefit risk of donanemab from the Commission on Human Medicines (CHM), the government’s independent advisory body.

    Julian Beach, MHRA Interim Executive Director, Healthcare Quality and Access, said:

    Licensing medicines which meet acceptable standards of safety, quality and efficacy is a key priority for us.

    We’re assured that, together with the conditions of the licence approval, the appropriate regulatory standards for this medicine have been met.

    As with all medical products, we will keep its safety under close review, and with a safety study to be undertaken after licensing, we will ensure that the benefit risk of donanemab is closely followed up post-authorisation.

    Donanemab is approved to treat adults in the early stages of Alzheimer’s disease who have one or no copies of the apolipoprotein E4 gene (ApoE4). A person can have no copies, one copy or two of this gene. Approximately 15% of those diagnosed with Alzheimer’s disease have two copies of this gene, known as homozygous patients, and are at increased risk of developing Alzheimer’s disease, while people with one copy also have an increased risk.

    The patient’s doctor will perform testing to make sure that donanemab is right for them.

    Donanemab was evaluated in a main study (Phase III Study TRAILBLAZER-ALZ 2) involving 1,736 patients with early Alzheimer’s disease who had mild cognitive impairment, mild dementia and evidence of amyloid pathology. The patients in the study also had evidence of a protein called ‘tau’ in their brain which is involved in Alzheimer’s disease.

    The study looked at changes in patients’ brain cognition and function, measured by clinical tools such as the integrated Alzheimer’s Disease Rating Scale (iADRS). Other tools used included the Clinical Dementia Rating Scale – Sum of Boxes (CDR-SB), ADAS-Cog13, and ADCS-iADL. These tools are used by doctors to measure Alzheimer’s disease and were measured at the start (baseline) and then throughout the study.

    In this study, the patients received either 700 mg donanemab every 4 weeks for the first 3 doses, and then 1400 mg every 4 weeks (860 patients) or placebo (a dummy infusion, 876 patients) for up to 72 weeks.

    At week 76 of the study, patients treated with donanemab had statistically significantly less clinical progression in their Alzheimer’s disease compared to patients that were treated with the placebo. This was assessed by change in iADRS score from baseline. Patients with low to medium levels of tau protein showed 35% slowing of clinical progression which equated to 4.4 months of delay in disease progression. In the overall population treated with donanemab, there was a 22% slowing of clinical progression, translating to a 1.4-month delay in disease progression.

    Donanemab treatment in both carriers and non-carriers was associated with less decline on iADRS and CDR-SB scores and a significant reduction in amyloid plaque compared with placebo (this is consistent with previous data from phase 2 for carriers but not for non-carriers which previously were not seen to benefit). However, among carriers, the reduced decline in iADRS and CDR-SB was driven by those with one ApoE4 gene. Those with two ApoE4 genes did not demonstrate a significant slowing in decline. Reduction in amyloid plaque was observed regardless of the number of ApoE4 genes an individual had, but the reduction was smaller among those with two ApoE4 genes.

    ApoE4 homozygous patients who received donanemab were also at higher risk of developing Amyloid Related Imaging Abnormalities (ARIAs), which are most commonly seen as temporary swelling in one or more areas of the brain (ARIA-E) or small spots of bleeding in or on the surface of the brain (ARIA-H).

    The CHM therefore advised that the risk benefit of donanemab was favourable in the patients who were ApoE4 non-carriers or heterozygous but not in the homozygous group, and that testing for the ApoE4 gene should be carried out before treatment.

    Use of donanemab in patients who are on anticoagulants (blood thinners, including warfarin) or have been diagnosed with cerebral amyloid angiopathy (CAA) on MRI before starting treatment is contraindicated as the risks in these patients are considered to outweigh the benefits.

    Donanemab is a monoclonal antibody which binds to a protein called amyloid beta in Alzheimer’s disease, where clumps of amyloid beta protein form plaques in the brain. Donanemab works by binding to these clumps and reducing them, therefore slowing the progression of the disease.

    The recommended dose of donanemab is 1400mg, with the patient receiving this dose once every four weeks in a healthcare setting. When starting treatment, the patient will initially receive a 700mg dose every week for the first three rounds of treatment. Donanemab is administered intravenously, with each infusion lasting at least 30 minutes. The total duration of treatment should not exceed 18 months.  

    The most common side effects of the medicine are infusion-related reactions (which can cause fever and flu-like symptoms), headaches and ARIA.

    In placebo-controlled studies, the incidence of ARIA was lower in non-carriers (24.1% donanemab vs 11.3% placebo) and heterozygotes (37.4% donanemab vs 13.4% placebo) than in homozygotes (58.3% donanemab vs 21.3% placebo).

    Among patients treated with donanemab, symptomatic ARIA-E occurred in 4.1% of non-carriers and 6.1% of heterozygotes compared with 7.7% of homozygotes. Serious events of ARIA occurred in approximately 0.7% of non-carriers, 1.7% heterozygotes and 3% of homozygotes. Among patients treated with donanemab, the rate of severe radiographic ARIA-E was lower in non-carriers 1.0% (3/291) and heterozygotes 2.1% (11/522) compared to homozygotes 4.2% (7/168). The rate of severe radiographic ARIA-H was lower in non-carriers 4.5% (13/291) and heterozygotes 9.2% (48/522) compared to homozygotes 24.4% (41/168).

    A full list of all side effects reported with this medicine is available in the patient information leaflet or from the product information published on the MHRA website.   

    As with any medicine, the MHRA will keep the safety and effectiveness of donanemab under close review. To promote safe and effective use and keep the safety and efficacy of donanemab under close review, initiation of treatment in any patients will be through a central registration system implemented as part of a controlled access programme.

    A post-authorisation safety study will be conducted to investigate the safety and benefit-risk profile of donanemab in routine clinical practice, particularly in relation to incidence and severity of ARIAs and intracerebral haemorrhage, and long-term safety.

    Additional risk minimisation activities will be implemented for donanemab. These activities include the following:

    • educational materials for prescribers and radiologists on important safety risks related to the use of donanemab such as ARIA-E ARIA-H and intracerebral haemorrhage >1 cm
    • a patient card designed to enhance the awareness and knowledge of patients and caregivers about the safety concerns with donanemab as well as inform physicians of ARIA differential in an emergency setting.

    Anyone who suspects they are having a side effect from this medicine should to talk to their doctor, pharmacist or nurse and report it directly to the MHRA Yellow Card scheme website or via the Yellow Card app available on Google Play or Apple App stores. 

    ENDS

    Notes to editors  

    1. The authorisation for donanemab was granted on 23 October 2024 to Eli Lilly.
    2. More information can be found in the Summary of Product Characteristics and Patient Information leaflets which will be published on the MHRA Products website.
    3. The Medicines and Healthcare products Regulatory Agency (MHRA) is responsible for regulating all medicines and medical devices in the UK by ensuring they work and are acceptably safe.  All our work is underpinned by robust and fact-based judgements to ensure that the benefits justify any risks.
    4. The MHRA is an executive agency of the Department of Health and Social Care.
    5. The Commission on Human Medicines (CHM) advises ministers on the safety, efficacy and quality of medicinal products. CHM is an advisory non-departmental public body, sponsored by the Department of Health and Social Care.
    6. For media enquiries, please contact the news centre on 020 3080 7651 or newscentre@mhra.gov.uk

    Updates to this page

    Published 23 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI: Aurora Mobile’s EngageLab Partners with Tao Ji Yun to Jointly Promote Highly Efficient Logistics

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, Oct. 23, 2024 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, today announced that its subsidiary EngageLab, a leading global multi-channel user engagement solution provider, has established a strategic partnership with Tao Ji Yun, a new generation consolidated shipping platform in Hong Kong under Shenzhen Trans-Jiang Logistics Co., Ltd. The partnership will help Tao Ji Yun achieve millisecond omni-channel messaging, improve the efficiency of global customer engagement, and further strengthen its global competitiveness.

    Tao Ji Yun has become one of the largest and most capable consolidated shipping companies in cross-border e-commerce logistics in Hong Kong. Known for its professional and efficient services, Tao Ji Yun is committed to providing convenient and cost-effective consolidated shipping services to Mainland China e-commerce sellers and Hong Kong buyers, optimizing logistics processes and reducing shipping costs to facilitate mutual benefits for both parties.

    The immediate update and accurate delivery of logistics information is core to Tao Ji Yun’s global operations. EngageLab’s AppPush, which provides push notification services for apps, integrates push messaging channels from eight mobile brands and one self-built channel, ensuring that every logistics update from Tao Ji Yun can be quickly and accurately delivered to users around the world. Whether it’s logistics tracking, freight settlement or after-sales service, users can access the latest logistics information anytime, anywhere. This instant cross-regional messaging not only greatly enhances shopping experience and customer satisfaction, but also will provide a strong impetus to Tao Ji Yun’s global sales growth.

    EngageLab’s AppPush has a global network with multiple channels and data nodes, enabling complementary channel messaging, real-time intelligent redispatch, and multi-point service backups. It can handle large volumes of messages worldwide, and comprehensively ensures message delivery in terms of technical architecture and infrastructure. AppPush processes tens of billions of messages globally every day, ensuring messaging with high concurrency, reliability, stability, security, and efficiency. It achieves millisecond message delivery and ensures smooth operation even during peak business hours. This exceptional performance will enable Tao Ji Yun to maintain accurate and efficient messaging even in the face of immense global business volumes, significantly reducing user reach costs and improving operational efficiency.

    In the area of personalized services, AppPush offers seven message styles and ten user segmentation rules, enabling precise user targeting. It supports full lifecycle data tracking and multi-dimensional message funnels, helping to build user behavior profiles and providing Tao Ji Yun with global intelligent support. Based on messaging data, Tao Ji Yun can build refined user profiles to provide more personalized logistics services and product recommendations. For example, for Hong Kong buyers who frequently purchase bulk goods, Tao Ji Yun can push more favorable consolidated shipping options and freight discount information, further enhancing customer loyalty and satisfaction and shaping its global brand reputation.

    Improving service quality and optimizing customer experience are critical to maintaining a competitive edge in the global cross-border e-commerce logistics market. By working with EngageLab, Tao Ji Yun will not only improve the efficiency of customer engagement, but also accelerate its digital transformation and further strengthen its service capabilities. Going forward, Tao Ji Yun will continue to work with EngageLab, leveraging AppPush’s accurate, efficient, stable and secure push services as the foundation to continuously optimize logistics processes and improve customer engagement efficiency. This will provide global customers with more convenient and cost-effective consolidated shipping services. Meanwhile, Aurora Mobile will continue to support Tao Ji Yun to improve service quality, enhance corporate image, effectively promote its development, and jointly strive to create a more professional, efficient and convenient cross-border e-commerce logistics platform.

    About EngageLab

    As a leading provider of multi-channel user engagement solutions under Aurora Mobile, EngageLab is dedicated to delivering omnichannel messaging solutions to global enterprises and developers. These solutions enable more precise user outreach strategies, lower messaging costs, higher message delivery rates, and improved user conversion rates. EngageLab has steadily increased its market share and become an internationally recognized overseas messaging service platform. Currently, EngageLab has worked with hundreds of leading companies in 29 countries and regions worldwide and across various industries, including technology, internet, mobile, video, media, automotive and finance.

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    For more information, please contact:

    Aurora Mobile Limited
    E-mail: ir@jiguang.cn

    Christensen

    In China
    Ms. Xiaoyan Su
    Phone: +86-10-5900-1548
    E-mail: Xiaoyan.Su@christensencomms.com

    In US
    Ms. Linda Bergkamp
    Phone: +1-480-614-3004
    Email: linda.bergkamp@christensencomms.com

    The MIL Network –

  • MIL-OSI: Panopto Adds Generative AI Text-to-Video Creation Capabilities Through Its Acquisition of Elai

    Source: GlobeNewswire (MIL-OSI)

    PITTSBURGH, Oct. 23, 2024 (GLOBE NEWSWIRE) — Today, Panopto, the global leader in AI-powered video creation and management solutions, announced its acquisition of Elai, a revolutionary AI text-to-video platform that quickly generates engaging video content for learning with on-screen interactive playback, easy-to-use creator studio tools, and advanced avatar-based learning capabilities, including custom avatars and voice cloning options. With the addition of Elai’s AI video creation solution, the Panopto platform is the only secure video solution capable of supporting the full video learning lifecycle from creation and management to sharing and measuring impact.

    Founded in 2021 and based in Lewes, Delaware, Elai serves more than 2,000 global customers in a variety of industries, ranging from manufacturers of personal care products, medical equipment and industrial machinery to software companies, hospitals and universities. Elai’s guided storyboard scriptwriting, custom avatar-building, and personal design features, powered by text-to-video AI, support the creation of accessible learning content, helping organizations and institutions create more equitable learning experiences.

    Through this acquisition, Panopto addresses the growing challenges faced by learning experience designers and content creators, who are under pressure to produce engaging, personalized, and interactive content faster than ever. Traditional content creation is time-consuming, while modern learners demand immediacy and relevance, often leaving materials outdated before they can be fully utilized.

    With the power of generative AI, Panopto revolutionizes content creation by improving speed, efficiency, and quality. Now, with lifelike avatars delivering scripts in any language, integrated quizzes, interactivity and branching options, instructors and subject matter experts can create dynamic learning experiences quickly. Panopto’s smart chaptering and intelligent search features ensure that these innovative, personalized materials reach the right learners exactly when needed.

    “Generative AI transforms how enterprise organizations work and learn, operationalize teams, innovate processes, and engage with their employees. With traditional training methods, creating learning content at scale can be cumbersome and costly,” said Jason Beam, CEO at Panopto. “With the capabilities of Elai added to the Panopto platform, we’re equipping our customers with a complete solution to create, deliver and personalize the video learning journey.”

    “Elai is excited to join forces with Panopto and continue our mission to support agile training models that meet the challenges of a rapidly evolving future,” said Vitalii Romanchenko, CEO and Founder at Elai. “Engaging content is foundational to learning and Panopto shares our vision of user-friendly AI innovation that simplifies content creation and inspires users across all organizations to turn bright ideas into learning content worth sharing.”

    “Workforces are getting smarter, especially with new technologies that optimize the delivery of scalable training, like AI-generative content,” said Jim Lundy, Aragon Research CEO and Founder. “Platforms like Panopto, with their recent acquisition of Elai and integrated video learning capabilities, provide a range of options for organizations seeking to create and deliver training content. While these advancements offer potential benefits in terms of efficiency and scalability, it’s important for business leaders to carefully evaluate their specific needs and consider the full range of available solutions.”

    About Panopto
    Panopto is the leading AI-powered video learning platform for organizations of all sizes, from modern workforces to college campuses. With fully integrated generative AI creator tools and publishing and engagement features, Panopto transforms ideas, lectures, training, and events into on-demand and accessible learning experiences, empowering organizations to design a smarter future of working and learning with video. To learn more, visit Panopto.com.

    About Elai
    Elai enables enterprises and institutions to create high-quality video content quickly and efficiently, revolutionizing traditional video production. An AI-powered text-to-video platform that offers interactive playback, intuitive creator tools, and advanced avatar-based learning, including custom avatars and voice cloning – Elai is a game-changer for organizations that prioritize learning. For more, visit Elai.io.

    Contact:
    Rebecca Reese
    Panopto@meetkickstand.com
    (603) 305-4155

    A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f2febcb2-58e3-42c9-a112-6124b210f211

    The MIL Network –

  • MIL-OSI United Kingdom: UK-Germany Trinity House Agreement on Defence – Joint Communique

    Source: United Kingdom – Executive Government & Departments

    A commitment to improve and enhance bilateral defence co-operation between the Ministry of Defence of the Federal Republic of Germany and the Ministry of Defence of the United Kingdom of Great Britain and Northern Ireland.

    In July this year, the Ministry of Defence of the Federal Republic of Germany and the Ministry of Defence of the United Kingdom of Great Britain and Northern Ireland committed to improve and further enhance bilateral defence co-operation to better meet the common challenges of the 21st Century and to best secure the common interests of both countries in defence-related areas. We outlined escalating security concerns, exacerbated by Russia’s war of aggression against Ukraine. We said that the deteriorating strategic environment demanded a unified response to ensure the preservation of European security.

    As we confront these challenges together with Allies and partners, we are guided by our shared values of democracy, freedom, and the rule of law. Recognising the imperative for closer collaboration in the face of evolving geopolitical challenges and shared security threats, we aim to promote stability on NATO’s eastern flank, in Europe as a whole, and beyond for the Euro-Atlantic area. Strategic defence co-operation is an important first pillar in the new relationship between Germany and the United Kingdom, which will be codified in the forthcoming bilateral treaty in 2025.

    Recognising the imperative, we have worked at pace to create our response through this historic, first-of-its kind, defence agreement between our two great nations. Our shared strategic objective is to sustain effective deterrence against would-be aggressors by building credible, resilient defence forces and defence industries, working towards the vision of a peaceful and stable Euro-Atlantic area. To do this, our agreement will become a crucial element in the broader architecture of European security; it is explicitly designed to support our Allies and strengthen the European contribution to NATO. In particular, it complements our respective existing bilateral agreements with France, laying the foundation for increasingly close co-operation between the E3.

    Through this agreement, we have brought focus, resource, and ambition to our previously stated objectives: Strengthening Defence Industries, Reinforcing Euro-Atlantic Security, Enhancing Interoperability, Addressing Emerging Threats, Supporting Ukraine, and Deep Precision Strike. In addition to new governance structures, we will bring these objectives to life through the creation of totemic lighthouse projects, which will serve as beacons for unprecedented levels of co-operation and integration between our respective Armed Forces.

    Deep Precision Strike and Defence: The UK and Germany will work jointly to rapidly develop extended Deep Precision Strike capabilities, to provide a conventional deterrent in Europe and strengthen European Integrated Air and Missile Defence. We will do this in the short term through:

    • Undertaking a comprehensive exercise to compare capability needs and identify synergies.
    • Developing common requirements and military doctrine to aid the development of long-range systems, working in co-operation with Allies and partners, in particular through the European Long Range Strike Approach.
    • Identifying opportunities for industrial collaboration and investment to achieve closer working on countering threats through Integrated Air and Missile Defence.

    And in the medium term through:

    • Joint development and procurement of new extended Deep Precision Strike capabilities in close co-ordination with Allies and partners, giving special focus to new capabilities which far exceed today’s ranges.
    • Joint development of a common approach to deploying extended Deep Precision Strike in all physical domains.
    • Cohering Integrated Air and Missile Defence activity through the European Sky Shield Initiative, NATO’s Multinational Procurement Initiatives, and the UK’s DIAMOND initiative.

    Uncrewed Aerial Systems and Future Connectivity: The UK and Germany will work jointly, in close co-ordination with Allies and partners, to develop and employ Uncrewed Aerial and Offboard Air Systems to ensure interoperability between Future Combat Air Systems. We will do this in the short term through:

    • Joint integration of common missile systems into drone fleets to enhance precision strike capabilities, drawing benefit from each nations’ previous experience, e.g. the integration of Brimstone to UK Uncrewed Air Systems.
    • Sharing plans on integration of capabilities between Current and Future Combat Air Systems, to enable development of interoperable offboard systems.

    And in the medium term through:

    • Joint exploration and development of cross-system Combat Cloud capabilities across aircraft fleets.
    • Joint exploration and development of new Maritime Uncrewed Air System capabilities.
    • Joint exploration and development of common offboard systems compatible with respective Future Combat Air Systems to enable, inter alia, data sharing, to support interoperability and integration of those systems.
    • Supporting implementation of NATO-agreed common standards to ensure connectivity and collaboration between fighter aircraft, reinforcing inter-generation and (un)crewed teaming.

    Strengthening the Eastern Flank through a new Land Strategic Partnership: Using our Forward Land Forces and shared enduring commitment to NATO’s eastern flank as a catalyst, the UK and Germany will work to strengthen NATO by developing doctrine, uncrewed systems, and enabling capabilities to transform our land forces; sustaining continuous land-based deterrence within Europe. We will do this in the short term through:

    • Working jointly in the Armour Capability Coalition to drive innovation in the land domain, through support to Ukraine.
    • Working jointly with Canada and the Baltic States, including through the 3+3 format, to rapidly transform the capability and effectiveness of our respective Forward Land Forces and tap the full potential of synergies of the Forward Land Forces in the Baltic States
    • Co-ordination of UK and German exercises between the Forward Land Forces, with the goal of combined exercises.
    • Working together to tackle the challenges in the shortage of NATO Corps troops across the Alliance. Equipping, training, and exercising the German-British Amphibious Engineer Battalion 130 in Minden to fulfil tasks as one entity within the NATO Force Model.
    • Fostering a deep Industrial Partnership between UK and German Defence Industries, including assisting respective prime contractors wishing to expand production facilities in each other’s countries. Our will to develop industrial co-operation is illustrated by developing plans between the UK MOD and Rheinmetall for a new barrel factory to be opened in the UK, further strengthening the defence industrial links between the UK and Germany.
    • Close collaboration in the BOXER User Group, conducting regular consultations on the “strategic pipeline”, and joint exploration of new capabilities and variants, striving for a closer exchange of BOXER In-Service-Experience topics, and close co-operation in the area of BOXER training and operation. Beyond BOXER, we will pursue joint procurement and through-life capability management initiatives around land vehicles.

     And in the medium term through:

    • Joint development of common offboard systems for Future Ground Combat Systems to support interoperability between those systems, in co-ordination with Allies and Partners
    • Joint development of military doctrines for future land warfighting, supported by Artificial Intelligence and Emerging Disruptive Technologies.

    Undersea Co-operation in the Northern Seas: The UK and Germany will work jointly to strengthen UK-German naval co-operation with a focus on the North Atlantic and North Sea. We will aim to establish and share a clear and concise picture of underwater activity, significantly contributing to the protection of Critical Undersea Infrastructure and Sea Lines of Communications. We will do this in the short term through:

    • Co-ordination of combined and joint operations in the North Atlantic, in close co-operation with Allies and partners, focussing on Anti-Submarine Warfare with ships, submarines, and aircraft. We will enable forward deployments of each other’s units and goods between our countries when required.
    • Episodic deployments of German P-8A Poseidon Maritime Patrol Aircraft in the UK to support interoperability and collaborative Anti-Submarine Warfare operations in the North Atlantic, following their entry into service.
    • Joint development of common training for our Maritime Patrol Aircraft crews.
    • Promoting a common co-operative procurement of the UK’s Lightweight Torpedo STINGRAY MOD 2 for our Maritime Patrol Aircraft.
    • Contributing to the strengthening of NATO’s work strand on Critical Undersea Infrastructure.

    And in the medium term through: 

    • Exploring new offboard undersea surveillance capabilities to improve detection of adversary activity and support the protection of Critical Undersea Infrastructure, supported by Artificial Intelligence and Emerging Disruptive Technologies.

    In addition, we are committed to working together for as long as it takes to support and enable Ukraine to counter Russian aggression. Our combined will is unequivocal, we will continue to ensure Ukraine has the military capabilities it requires. Our specialist teams and our Defence Industries will work ever more closely to ensure that Ukraine will prevail and achieve a fair and lasting peace. In the short term, we will collectively provide Ukraine with a new offensive capability, supporting fitting German donated Sea King Helicopters with modern missile systems. In the longer term, we will work increasingly closely through the Capability Coalitions for Ukraine using the lessons learnt there to continuously develop our co-operation. The UK will increase its support to the German and Polish-led Armour Coalition, Germany will support the UK and Latvian led drone coalition.

    Through our agreed mechanisms, enhanced dialogue, and increased political leadership, we will drive co-operation for decades to come. We will regularly review the content and our collaboration. We will consistently raise our ambitions to meet tomorrow’s threats wherever they come from: on Land, at Sea, or in the Air, in Space or in the Cyber domain; and irrespective of whether these threats are caused by hostile actors or are a result of natural disasters or Climate Change.

    We will confront such threats across all domains and between each of our Armed Forces and joint organisations, with co-operation in Cyber, Communications, and Information Systems forming the backbone and connective tissue required to embark on such an ambitious programme of work.

    John Healey Boris Pistorius
    Secretary of State for Defence of the United Kingdom Federal Minister of Defence of the Federal Republic of Germany

    UK-Germany Trinity House Agreement on Defence

    Updates to this page

    Published 23 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Smart Traffic Fund approves seven projects

    Source: Hong Kong Government special administrative region

    Smart Traffic Fund approves seven projects
    Smart Traffic Fund approves seven projects
    ******************************************

         The Transport Department (TD) today (October 23) announced that a 16th batch of seven projects has been approved by the Management Committee on Smart Traffic Fund, involving a total grant of around $86.4 million.     The seven approved projects in the latest batch cover safety enhanced autonomous driving artificial intelligence bus with self intelligence, smart taxi ecosystem for efficient electric taxi operations, dynamic reward mechanism for taxi drivers, driving risk detection for taxi, electric taxi dynamic charging solution, optimisation of taxi dispatching and reposition through real-time circumstances monitoring and next generation taxi operating system. Details of the projects are available on the Fund’s website (www.stf.hkpc.org).     The Fund accepts applications throughout the year to provide funding support to local organisations and enterprises for conducting research and application of innovation and technology with the objectives of enhancing commuting convenience, enhancing efficiency of the road network or road space, and improving driving safety. All applications are considered and assessed in batches by the Management Committee, which is chaired by the Deputy Commissioner for Transport (Planning and Technical Services) and comprises representatives from the Government, experts in the industry and relevant stakeholders.     The TD appeals to interested organisations and enterprises for participation to help make the Fund a success, and to build Hong Kong into a more liveable and sustainable city by driving Hong Kong toward a new era of transportation.      Application details are available on the Fund’s website. For enquiries, please contact the Hong Kong Productivity Council, the Secretariat of the Fund, on 2788 5536 or stf_sec@hkpc.org. 

     
    Ends/Wednesday, October 23, 2024Issued at HKT 18:15

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Designing Defence’s next generation multi-satellite system

    Source: United Kingdom – Government Statements

    Dstl scientific expertise and advice is at the heart of the Ministry of Defence’s ambitions in space.

    Scientists from the Defence Science and Technology Laboratory (Dstl) are at the forefront of designing and developing Defence’s next generation satellite constellation – a system that will bring giant leaps in operational advantage to the armed forces. 

    We have developed new collaborative ways of working with both Space Command and Defence Equipment and Support (DE&S) to deliver the next generation multi-satellite system to support greater global surveillance and intelligence for military operations – known as the ISTARI programme.

    ISTARI will cost £968 million and involves the development of a constellation (group) of satellites to deliver global intelligence, surveillance and reconnaissance and to send data and information rapidly to decision makers across the globe. A series of operational capability demonstrator missions will first be carried out to test the concept.

    Dstl is leading the initial constellation design and development. Using our evidence-based decision-making and systems engineering we are working with DE&S to jointly deliver the missions and bring them into service for Space Command.

    Taking a multi-disciplinary approach enables more rapid decision-making and sharing of best practice across technical, programmatic and operational disciplines. It enables defence to ask the right questions and make the right decisions to develop and deliver capability effectively and efficiently.

    Tyche: MOD’s first sovereign Intelligence Surveillance and Reconnaissance (ISR) satellite

    Space Command’s first satellite, Tyche, launched in August aboard SpaceX Falcon 9. Dstl provided technical assurance to Tyche, which was built by UK industry.

    Space Command’s first satellite, Tyche

    Tyche is an electro-optical imaging satellite capable of collecting images of the ground, and short image sequences of ground locations, to detect moving objects. It also possesses an additional on-board processor for immediate processing of data collected, including the ability to upload Artificial Intelligence and Machine Learning algorithms for data reduction.

    Tyche will be able to communicate with commercial data relays in geostationary orbit to reduce data latency and increase opportunities for tasking.

    A key aspect to the experimentation Tyche will deliver will be the opportunity to demonstrate how the satellite interfaces with the wider emerging MOD space architecture.

    Goonhilly Earth Station: new communications ground stations in Cornwall

    Dstl is also building on the existing ground facilities to enhance space operations. In conjunction with the National Security Strategic Investment Fund (NSSIF), 2 new remote ground stations have been installed at Goonhilly Earth Station (GES) in Cornwall to expand Dstl’s space-to-ground capability and enable increase experimentation.

    Goonhilly Satellite Earth Station (Credit: Shutterstock)

    The powerful 3.9m Safran Legion antennas, to be operated by Dstl, complement Dstl’s Hermes ground station and will track satellites and download Intelligence Surveillance and Reconnaissance (ISR) data – vital to demonstrating the ISTARI concept.

    Dstl is also working with Goonhilly to tailor and assess the suitability of an open standard for booking and scheduling of remote ground terminals within a network; this will broker access between multiple end users.

    Dstl’s in-house expertise is vital to these missions as we help build Defence’s next generation space capability, which will be vital to ensure operational advantage on the frontline. Find out more about our space defence science and technology capability.

    Updates to this page

    Published 23 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: English Translation of Prime Minister’s Remarks at the Closed Plenary of the 16th BRICS Summit

    Source: Government of India

    Posted On: 23 OCT 2024 3:25PM by PIB Delhi

    Your Highness,
    Excellencies,

    I express my heartfelt gratitude to President Putin for the wonderful organisation of todays, meeting.

    I am very pleased that we are meeting for the first time today, as the extended BRICS Family.I warmly welcome all the new friends that have joined the BRICS family.

    I congratulate President Putin for Russia’s successful Presidency of BRICS over the last one year.

    Friends,

    Our meeting is taking place at a time, when the world is facing several pressing challenges such as wars, economic uncertainty, climate change and terrorism. The world is talking about the North South divide and the East West divide.

    Preventing inflation, ensuring food security, energy security , health security, water security, are matters of priority for all countries in the world.

    And in this era of technology, new challenges have emerged such as cyber deepfake, disinformation.

    At such a time, there are high expectations of BRICS. I believe that as a diverse and inclusive platform, BRICS can play a positive role in all areas.

    In this regard, our approach must remain people centric.We have to give the world the message that BRICS is not a divisive organisation but one that works in the interest of humanity.

    We support dialogue and diplomacy, not war. And just as we were able to overcome a challenge like COVID together, we are certainly able to create new opportunities to ensure a secure , strong and prosperous future for future generations.

    In order to counter terrorism and Terror financing, we need the single minded, firm support of all. There is no place for double standards on this serious matter. We need to take active steps to stop radicalization of youth in our countries.

    We must work together on the long pending matter in the UN of the Comprehensive Convention on International Terrorism.

    The same way, we need to work on global regulations for cyber security and for safe and secure AI.

    Friends,

    India is ready to welcome new countries into BRICS as Partner Countries.

    In this regard all decisions should be taken by consensus, and the views of BRICS founding members should be respected. The Guiding principles , standards, criteria and procedures adopted during the Johanesburg summit, should be complied with by all members and partner countries.

    Friends,

    BRICS is an organisation, which is willing to evolve with time.By giving our own example to the world we must collectively and in a united manner, raise our voice for reforms of global institutions.

    We must move forward in a time bound manner on reforms in global institutions such as the UN Security Council, Multilateral development banks, and the WTO.

    As we take our efforts forward in BRICS, we must be careful to ensure that this organisation does not acquire the image of one that is trying to replace global instutions, instead of being perceived as one that wishes to reform them.

    The hopes , aspirations and expectations of the countries of the Global south must also be kept in mind. During our Voice of Global South Summits and G20 Presidency, India put the voices of these countries on the global stage.I am pleased that these efforts are being strengthened under BRICS as well.Last year countries of Africa were integrated into BRICS.

    This year, as well, several countries of the Global south have been invited by Russia.

    Friends,

    The BRICS grouping , created by the confluence of different viewpoints and ideologies, is a source of inspiration for the world,fostering positive cooperation.

    Our diversity, respect for each other and our tradition of moving forward on the basis of consensus, are the basis for our cooperation.This quality of ours, and our BRICS spirit, are attracting other countries as well to this forum. I am confident that in the times to come we will together make this unique platform a model for dialogue, cooperation and coordination.

    In this regard, as a Founding member of BRICS, India will always continue to fulfill its responsibilities.

    Once again, a big thank you to all of you.

    DISCLAIMER – This is the approximate translation of Prime Minister’s remarks. Original remarks were delivered

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Mid Term Progress of Ministry of Steel under Special Campaign 4.0 for Disposal of Pending Matters

    Source: Government of India (2)

    Posted On: 23 OCT 2024 1:54PM by PIB Delhi

    Ministry of Steel, in collaboration with its CPSEs has initiated efforts and prepared action plans for implementing Special Campaign for Disposal of Pending Matters (SCDPM) 4.0 from 02 October 2024 to 31 October 2024.

    The SCDPM aims to systematically address and dispose of pending references across various categories, including Member of Parliament (MP) references, Prime Minister’s Office (PMO) references, VIP and Cabinet references, State Government references, and CPGRAM matters and other important matters.

    The mid-term progress of SCDPM 4.0 highlights significant achievements, with 87% of references from Members of Parliament already replied to and 80% of the public grievances target reached. Additionally, 9,690 physical files have been weeded out, freeing up 21,379 sq. ft. of space due to scrap disposal and file weeding. Out of a target of 375, 159 cleanliness campaigns have been conducted so far. Regular review meetings with nodal officers of CPSEs are also being held to monitor progress effectively.

     

    One Stop Centre functionaries in MECON Delhi Office carried out cleaning of drainage, grass cutting and cleanliness drive under ongoing Special Campaign 4.0 

          

               BEFORE                                                                AFTER                        

     

    One Stop functionaries in Bhilai (SAIL) conducted drive on cleanliness in Streets, Office and Garden with focus on maintaining hygiene for prevention of Dengue and Malaria.

     

    MSTC Carried out awareness among its employees and public about importance of SCDPM 4.0

    The Ministry of Steel, under Special Campaign 4.0 for Disposal of Pending Matters, has undertaken various initiatives to promote cleanliness and environmental sustainability across its units. SAIL-Bhilai Steel Plant concluded its “Swachhata Hi Seva 2024” program with a Shramdaan activity and honored Safai Mitra workers for their dedication. Additionally, MOIL demonstrated leadership in Nagpur by conducting eco-friendly initiatives, including Shramdaan, contributing to the Swachhata Hi Seva campaign. These activities, shared through social media, underscore the Ministry’s commitment to fostering a cleaner and greener India.

     

     

     

    ******

    MG

    (Release ID: 2067290) Visitor Counter : 55

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Day 2 of ITU Kaleidoscope 2024 Highlights Cutting-Edge AI Innovations for Sustainable Development

    Source: Government of India

    Day 2 of ITU Kaleidoscope 2024 Highlights Cutting-Edge AI Innovations for Sustainable Development

    “ITU Kaleidoscope 2024: Bridging Technology and Sustainability for a more secure, equitable, and sustainable digital ecosystem “: Rohit Sharma Member (Services), Digital Communications Commission, DoT

    Posted On: 23 OCT 2024 8:42AM by PIB Delhi

    The second day of ITU Kaleidoscope 2024, which concluded yesterday on the sidelines of ITU-WTSA 2024 in New Delhi, brought forward transformative discussions focused on AI and digital technologies driving sustainable development. Kicking off with a special presentation by Mari Carmen Aguayo Torres, the day emphasized inclusive technology solutions, particularly through public-private partnerships to attract women to tech fields.

    Kicking off with a special presentation by Mari Carmen Aguayo Torres, the day emphasized inclusive technology solutions, particularly through public-private partnerships to attract women to tech fields.

    Eva Ibarrola, from the University of the Basque Country, Spain, chaired the session for the presentation on Attracting Girls to Technology Through Public-Private Partnership, and Applications and Services for Sustainable Development. Mr. Rohit Sharma, Member (services), Department of Telecommunications, Government of India and Mr. Sunil Kumar, President – IETE chaired the sessions on Social, economic, environmental and policy aspects for sustainable development.

    The event presented groundbreaking insights into AI applications for healthcare, education, and sustainable development. Themes included AI’s impact on healthcare, education, and agriculture, with discussions on AI-driven diagnostics and AI’s role in rural education access. The sessions also emphasized the importance of cybersecurity in IoT applications and explored AI’s ethical implications in content creation. Overall, the event underscored the critical need for innovation and international collaboration in developing technologies that support the UN Sustainable Development Goals (SDGs). The afternoon poster session fostered vibrant research collaboration, with topics covering AI’s role in education and the use of space systems to achieve the UN Sustainable Development Goals (SDGs).

    Mr. Rohit Sharma Member (Services), Digital Communications Commission, DoT said, “ITU Kaleidoscope 2024 provided a crucial platform for exploring the intersection of technology and sustainability. From the cybersecurity implications of agricultural IoT devices to the complexities of AI-generated copyright and the future of international taxation for ICT solutions, the discussions highlighted the importance of global cooperation in ensuring that technological advancements contribute to sustainable development. The insights shared by experts across fields underscore the need for robust policies and innovative standards to create a more secure, equitable, and sustainable digital ecosystem.”

    Mr. Atul Sinha Dy. Director General National Communications Academy said that, “The diverse research presented today showcases practical solutions to pressing global challenges, emphasizing the need for cross-disciplinary collaboration. I am confident that the ideas shared will help shape the future of technology for the greater good.”

    ITU WTSA New Delhi 2024 witnessed another happening day yesterday with Mr. Sunil Kumar, President IETE, who chaired sessions on Social, economic, environmental and policy aspects for sustainable development, with presentations on “The Role of Refurbished Mobile Phones in Digital Inclusion and Sustainable Development”, “Advancing Trustworthy AI for Sustainable Development: Recommendations for Standardising AI Incident Reporting” and on “Modelling Internet Use in the Global Development Context.”

    Concluding the day, interactive discussions focused on the social, economic, and policy impacts of AI, particularly cybersecurity challenges in agriculture and copyright issues in AI-generated content. These sessions provided critical insights into real-world challenges and opportunities that arise with the integration of AI into key sectors.

    On Day 3, two important panel discussions will take the spotlight, delving into the future of global standards and innovation opportunities, followed by the presentation of paper awards.

    Kaleidoscope 2024 continues to inspire meaningful dialogue around technology, standards, and sustainability, propelling forward global efforts for a more inclusive digital future.

    About ITU Kaleidoscope

    ITU Kaleidoscope is an annual event that has been instrumental in bridging the gap between academia and industry, promoting the exchange of ideas that contribute to the global standardization of telecommunications technologies. Since its inception in 2008, Kaleidoscope has become one of the most influential platforms for discussing the future of digital communications, providing a space where researchers and innovators can present their most promising work.

    Visit the official ITU Kaleidoscope 2024 website at https://www.itu.int/en/ITU-T/academia/kaleidoscope/2024/Pages/default.aspx or simply type ITU Kaleidoscope 2024 in google and select the first displayed website for detailed information on the event program, speakers, and sessions.

    About WTSA 2024:

    WTSA 2024, organized by the International Telecommunication Union (ITU), serves as a platform for the development and implementation of global telecommunications standards, uniting regulators, industry leaders, and policymakers to shape the future of communications worldwide.

     

    ******

    SB/DP/ARJ

    (Release ID: 2067228) Visitor Counter : 38

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: The Crypto Game of Lazarus APT: Investors vs. Zero-days

    Source: Securelist – Kaspersky

    Headline: The Crypto Game of Lazarus APT: Investors vs. Zero-days

    Introduction

    Lazarus APT and its BlueNoroff subgroup are a highly sophisticated and multifaceted Korean-speaking threat actor. We closely monitor their activities and quite often see them using their signature malware in their attacks — a full-feature backdoor called Manuscrypt. According to our research, Lazarus has been employing this malware since at least 2013 and we’ve documented its usage in 50+ unique campaigns targeting governments, diplomatic entities, financial institutions, military and defense contractors, cryptocurrency platforms, IT and telecommunication operators, gaming companies, media outlets, casinos, universities, and even security researchers — the list goes on.

    On May 13, 2024, our consumer-grade product Kaspersky Total Security detected a new Manuscrypt infection on the personal computer of a person living in Russia. Since Lazarus rarely attacks individuals, this piqued our interest and we decided to take a closer look. We discovered that prior to the detection of Manuscrypt, our technologies also detected exploitation of the Google Chrome web browser originating from the website detankzone[.]com. On the surface, this website resembled a professionally designed product page for a decentralized finance (DeFi) NFT-based (non-fungible token) multiplayer online battle arena (MOBA) tank game, inviting users to download a trial version. But that was just a disguise. Under the hood, this website had a hidden script that ran in the user’s Google Chrome browser, launching a zero-day exploit and giving the attackers complete control over the victim’s PC. Visiting the website was all it took to get infected — the game was just a distraction.

    We were able to extract the first stage of the attack — an exploit that performs remote code execution in the Google Chrome process. After confirming that the exploit was based on a zero-day vulnerability targeting the latest version of Google Chrome, we reported our findings to Google the same day. Two days later, Google released an update and thanked us for discovering this attack.

    Acknowledgement for finding CVE-2024-4947 (excerpt from the security fixes included into Chrome 125.0.6422.60)

    Having notified Google about the discovered vulnerability, we followed responsible vulnerability disclosure policy and refrained from sharing specific details in public, giving users sufficient time to apply the patch. This approach is also intended to prevent further exploitation by threat actors. Google took additional steps by blocking detankzone[.]com and other websites linked to this campaign, ensuring that anyone attempting to access these sites — even without our products — would be warned of their malicious nature.

    While we respected Google’s request for a set disclosure period, on May 28, 2024, Microsoft published a blog post titled “Moonstone Sleet emerges as new North Korean threat actor with new bag of tricks,” which partially revealed our findings. According to the blog, Microsoft had also been tracking the campaign and associated websites since February 2024. However, their analysis overlooked a key point in the malicious campaign: the presence of the browser exploit and the fact that it was a high-severity issue — a zero-day. In this report, we explore in great detail the vulnerabilities exploited by the attackers and the game they used as bait (spoiler alert: we had to develop our own server for this online game).

    The exploit

    The website used by the attackers as a cover for their campaign was developed in TypeScript/React, and one of its index.tsx files contained a small piece of code that loads and executes the Google Chrome exploit.

    Website facade and the hidden exploit loader

    The exploit contains code for two vulnerabilities: the first is used to gain the ability to read and write Chrome process memory from the JavaScript, and the second is used to bypass the recently introduced V8 sandbox.

    First vulnerability (CVE-2024-4947)

    The heart of every web browser is its JavaScript engine. The JavaScript engine of Google Chrome is called V8 — Google’s own open-source JavaScript engine. For lower memory consumption and maximum speed, V8 uses a fairly complex JavaScript compilation pipeline, currently consisting of one interpreter and three JIT compilers.

    V8’s JavaScript compilation pipeline

    When V8 starts to execute JavaScript, it first compiles the script into bytecode and executes it using the interpreter called Ignition. Ignition is a register-based machine with several hundred instructions. While executing bytecode, V8 monitors the program’s behavior, and may JIT-compile some functions for better performance. The best and fastest code is produced by TurboFan, a highly optimizing compiler with one drawback — the code generation takes too much time. Still, the difference in performance between Ignition and TurboFan was so significant that a new non-optimizing JIT compiler was introduced in 2021 called Sparkplug, which compiles bytecode into equivalent machine code almost instantly. Sparkplug-generated code runs faster than the interpreter, but the performance gap between Sparkplug- and TurboFan-generated code was still big. Because of this, in Chrome 117 (released in Q4 2023), the developers introduced a new optimizing compiler, Maglev, whose goal is to generate good enough code fast enough by performing optimizations based solely on feedback from the interpreter. CVE-2024-4947 (issue 340221135) is the vulnerability in this new compiler.

    To understand this vulnerability and how it was exploited, let’s take a look at the code the attackers used to trigger it.

    Code used by the attackers to trigger CVE-2024-4947

    We can see in this code that it first accesses the exported variable exportedVar of the moduleImport module and then creates the emptyArray array and the arrHolder dictionary. However, it seems that no real work is done with them, they are just returned by the function trigger. And then something interesting happens – the f function is executed until it returns “true”. However, this function returns “true” only if it can set the exported variable moduleImport.exportedVar to the “3.79837e-312” value, and if an exception occurs because of this, the f function returns “false”. How could it be that executing the same expression moduleImport.exportedVar = 3.79837e–312; should always return “false” until it returns “true”?

    Bytecode produced by the Ignition interpreter for “moduleImport.exportedVar = 3.79837e-312;”

    If we take a look at the bytecode produced for this expression by Ignition and at the code of the SetNamedProperty instruction handler, which is supposed to set this variable to the “3.79837e-312” value, we can see that it will always throw an exception — according to the ECMAScript specification, storing in a module object is always an error in JavaScript.

    JIT code produced by Maglev for “moduleImport.exportedVar = 3.79837e-312;”

    But if we wait until this bytecode has been executed enough times and V8 decides to compile it using the Maglev compiler, we’ll see that the resulting machine code doesn’t throw an exception, but actually sets this property somewhere in the moduleImport object. This happens due to a missing check for storing to module exports — which is the CVE-2024-4947 vulnerability (you can find the fix here). How do attackers exploit it? To answer this, we need to understand how JavaScript objects are represented in memory.

    Structure of JS objects

    All JS objects begin with a pointer to a special object called Map (also known as HiddenClass) which stores meta information about the object and describes its structure. It contains the object’s type (stored at a +8 offset), number of properties, and so on.

    Structure of the “moduleImport” JS object

    The moduleImport module is represented in memory as a JSReceiver object, which is the most generic JS object and is used for types for which properties can be defined. It includes a pointer to the array of properties ( PropertyArray) which is basically a regular JS object of the FixedArray type with its own Map. If in the expression moduleImport.exportedVar = 3.79837e–312; moduleImport was not a module but a regular object, the code would set the property #0 in that array, writing at a +8 offset; however, since it is a module and there is a bug, the code sets this property, writing at a +0 offset, overwriting the Map object with the provided object.

    Structure of the “3.79837e-312” number JS object

    Since 3.79837e-312 is a floating-point number, it is converted to a 64-bit value (according to the IEEE 754 standard) and stored in a HeapNumber JS object at a +4 offset. This allows the attackers to set their own type for the PropertyArray object and cause a type confusion. Setting the type to 0xB2 causes V8 to treat the PropertyArray as a PropertyDictionary, which results in memory corruption because the PropertyArray and PropertyDictionary objects are of different sizes and the kLengthAndHashOffset field of the PropertyDictionary falls outside the bounds of the PropertyArray.

    Now the attackers need to get the right memory layout and corrupt something useful. They defragment the heap and perform the actions that you can see in the trigger function.

    Memory layout created by the “trigger” function

    What happens in this function is the following:

    1. It accesses the exported module variable moduleImport.exportedVar to allocate moduleImport’s PropertyArray.
    2. It creates an emptyArray with two elements.
    3. Removing elements from this array reallocates the object that is used for storing the elements and sets emptyArray’s length to 0. This is an important step because in order to overwrite emptyArray’s length with PropertyDictionary’s hash, the length/hash must be equal to 0.
    4. The trigger function creates the arrHolder dictionary with two objects. This step follows the creation of the emptyArray to allow the pointers of these two objects to be accessed and overwritten when the length of emptyArray is corrupted. The first object, xxarr: doubleArray is used to construct a primitive for getting the addresses of JS objects. The second object, xxab: fakeArrayBuffer is used to construct a primitive for getting read/write access to the whole address space of the Chrome process.
    5. Next, the trigger function executes the f function until it is compiled by Maglev, and overwrites the type of the PropertyArray so it is treated as a PropertyDictionary object.
    6. Executing new WeakRef(moduleImport) triggers the calculation of PropertyDictionary’s hash, and the length of emptyArray is overwritten with the hash value.
    7. The trigger function returns emptyArray and arrHolder containing objects that can be overwritten with emptyArray.

    After this, the exploit again abuses Maglev, or rather the fact that it optimizes the code based on the feedback collected by the interpreter. The exploit uses Maglev to compile a function that loads a double value from an array obtained using arrHolder.xxarr. When this function is compiled, the attackers can overwrite the pointer to an array obtained using arrHolder.xxarr via emptyArray[5] and use this function to get the addresses of JS objects. Similarly, the attackers use arrHolder.xxab to compile a function that sets specific properties and overwrites the length of another ArrayBuffer-type object along with the pointer to its data (backing_store_ptr). This becomes possible when the pointer to the object accessible via arrHolder.xxab is replaced via emptyArray[6] with a pointer to the ArrayBuffer. This gives the attackers read and write access to the entire address space of the Chrome process.

    Second vulnerability (V8 sandbox bypass)

    At this point, the attackers can read and write memory from JavaScript, but they need an additional vulnerability to bypass the newly introduced V8 (heap) sandbox. This sandbox is purely software-based and its main function is to isolate the V8 memory (heap) in such a way that attackers cannot access other parts of the memory and execute code. How does it do this? You may have noticed that all the pointers in the previous section are 32 bits long. This is not because we’re talking about a 32-bit process. It’s a 64-bit process, but the pointers are 32 bits long because V8 uses something called pointer compression. The pointers are not stored in full, but just as their lower parts, or they could also be seen as a 32-bit offset from some “base” address. The upper part (the “base” address) is stored in CPU registers and added by the code. In this case, attackers should not be able to obtain real pointers from the isolated memory and have no way to obtain addresses for the stack and JIT-code pages.

    To bypass the V8 sandbox, the attackers used an interesting but very common vulnerability associated with interpreters — we have previously seen variations of this vulnerability in multiple virtual machine implementations. In V8, regular expressions are implemented using its own interpreter, Irregexp, with its own set of opcodes. The Irregexp VM is completely different from Ignition, but it is also a register-based VM.

    Examples of vulnerable code in Irregexp VM instruction handlers

    The vulnerability is that the virtual machine has a fixed number of registers and a dedicated array for storing them, but the register indexes are decoded from the instruction bodies and are not checked. This allows attackers to access the memory outside the bounds of the register array.

    Malicious Irregexp VM bytecode for reading the memory outside of the register array bounds

    Coincidentally, the pointers to output_registers and output_register_count are located right next to the register array. This allows the attackers to read and write the memory outside of the V8 sandbox with the help of the SUCCEED opcode. Attackers use this to overwrite JIT’ed code with shellcode and execute it.

    This issue (330404819) was submitted and fixed in March 2024. It is unknown whether it was a bug collision and the attackers discovered it first and initially exploited it as a 0-day vulnerability, or if it was initially exploited as a 1-day vulnerability.

    Shellcode

    At this point, the attackers need additional vulnerabilities to escape the Chrome process and gain full access to the system. In the best practices of sophisticated attackers, they run a validator in the form of a shellcode that collects as much information as possible and sends it to the server to decide whether to provide the next stage (another exploit) or not. This decision is made based on the following information: CPUID information (vendor, processor name, etc), whether it’s running on a VM or not, OS version and build, number of processors, tick count, OS product type, whether it’s being debugged or not, process path, file version info of system modules, file version info of process executable, and SMBIOS firmware table.

    By the time we analyzed the attack, the attackers had already removed the exploit from the decoy website, preventing us from easily obtaining the next stage of the attack. At Kaspersky, we possess technologies that have allowed us to discover and help to fix a huge number of 0-day privilege escalation vulnerabilities exploited by sophisticated attackers in various malware campaigns over the years; however, in this particular case we would have to wait for the next attack in order to extract its next stage. We’ve decided to not wait, preferring to let Google fix the initial exploit used to perform the remote code execution in Google Chrome.

    List of in-the-wild 0-days caught and reported by Kaspersky over the past 10 years

    Social activity

    What never ceases to impress us is how much effort Lazarus APT puts into their social engineering campaigns. For several months, the attackers were building their social media presence, regularly making posts on X (formerly Twitter) from multiple accounts and promoting their game with content produced by generative AI and graphic designers.

    Attackers’ accounts on X

    One of the tactics used by the attackers was to contact influential figures in the cryptocurrency space to get them to promote their malicious website and most likely to also compromise them.

    Attackers’ attempts to contact crypto-influencers

    The attackers’ activity was not limited to X — they also used professionally designed websites with additional malware, premium accounts on LinkedIn, and spear phishing through email.

    The game

    Malicious website offering to download a beta version of the game

    What particularly caught our attention in this attack was that the malicious website attacking its visitors using a Google Chrome zero-day was inviting them to download and try a beta version of a computer game. As big computer games fans ourselves, we immediately wanted to try it. Could the attackers have developed a real game for this campaign? Could this be the first computer game ever developed by a threat actor? We downloaded detankzone.zip and it looked legit: the 400 MB-archive contained a valid file structure of a game developed in Unity. We unpacked the game’s resources and found “DeTankZone” logos, HUD elements, and 3D model textures. Debugging artifacts indicated that the game had been compiled by the attackers. We decided to give it a spin.

    Start menu of the DeTankZone game

    After an intro with the game’s logo, we are greeted with a typical online gaming start menu, asking us to enter valid account credentials to access the game. We tried to log in using some common account names and passwords, and then tried to register our own account through the game and the website — but nothing worked.

    Is that really all this game has to offer? We started reverse engineering the game’s code and discovered that there was more content available beyond this start menu. We found the code responsible for communication with the game server and started reverse engineering that as well. The game was hardcoded to use the server running at “api.detankzone[.]com,” which clearly wasn’t working. But we really wanted to check this game out! What to do? We decided to develop our own game server, of course.

    First, we discovered that the game uses the Socket.IO protocol to communicate with the server, so we chose the python–socketio library to develop our own server. We then found a function with a list of all supported command names (event names) and reverse engineered how they are obfuscated. After that, we reverse engineered how the data was encoded: it turned out to be a JSON encrypted with AES256 and encoded with Base64. For the AES key it uses the string “Full Stack IT Service 198703Game”, while the string “MatGoGameProject” is used for the IV. We hoped that this information might reveal the identities of the game’s developers, but a Google search yielded no results. Finally, we reverse engineered the data format for a couple of commands, implemented them on our server, and replaced the server URL with the address of our own server. Success! After all this we were able to log into the game and play with the bots!

    Screenshot from the game running with our custom server

    Yes, it turned out to be a real game! We played it for a bit and it was fun — it reminded us of some shareware games from the early 2000s. Definitely worth the effort. The textures look a little tacky and the game itself closely resembles a popular Unity tutorial, but if Lazarus had developed this game themselves, it would have set a new bar for attack preparation. But no — Lazarus stayed true to themselves. It turns out that the source code for this game was stolen from its original developers.

    The original game

    DeFiTankLand (DFTL) – the original game

    We found a legitimate game that served as a prototype for the attacker’s version – it’s called DeFiTankLand (DFTL). Studying the developers’ Telegram chat helped us build a timeline of the attack. On February 20, 2024, the attackers began their campaign, advertising their game on X. Two weeks later, on March 2, 2024, the price of the DeFiTankLand’s currency, DFTL2 coin, dropped, and the game’s developers announced on their Telegram that their cold wallet had been hacked and $20,000 worth of DFTL2 coins had been stolen. The developers blamed an insider for this. Insider or not, we suspect that this was the work of Lazarus, and that before stealing the coins they first stole the game’s source code, modified all the logos and references to DeFiTankLand, and used it to make their campaign more credible.

    Conclusions

    Lazarus is one of the most active and sophisticated APT actors, and financial gain remains one of their top motivations. Over the years, we have uncovered many of their attacks on the cryptocurrency industry, and one thing is certain: these attacks are not going away. The attackers’ tactics are evolving and they’re constantly coming up with new, complex social engineering schemes. Lazarus has already successfully started using generative AI, and we predict that they will come up with even more elaborate attacks using it. What makes Lazarus’s attacks particularly dangerous is their frequent use of zero-day exploits. Simply clicking a link on a social network or in an email can lead to the complete compromise of a personal computer or corporate network.

    Historically, half of the bugs discovered or exploited in Google Chrome and other web browsers have affected its compilers. Huge changes in the code base of the web browser and the introduction of new JIT compilers inevitably lead to a large number of new vulnerabilities. What can end users do about this? While Google Chrome continues to add new JIT compilers, there is also Microsoft Edge, which can run without JIT at all. But it’s also fair to say that the newly introduced V8 sandbox might be very successful at stopping bugs exploitation in compilers. Once it becomes more mature, exploiting Google Chrome with JIT may be as difficult as exploiting Microsoft Edge without it.

    Indicators of Compromise

    Exploit
    B2DC7AEC2C6D2FFA28219AC288E4750C
    E5DA4AB6366C5690DFD1BB386C7FE0C78F6ED54F
    7353AB9670133468081305BD442F7691CF2F2C1136F09D9508400546C417833A

    Game
    8312E556C4EEC999204368D69BA91BF4
    7F28AD5EE9966410B15CA85B7FACB70088A17C5F
    59A37D7D2BF4CFFE31407EDD286A811D9600B68FE757829E30DA4394AB65A4CC

    Domains
    detankzone[.]com
    ccwaterfall[.]com

    MIL OSI Economics –

  • MIL-OSI Banking: Committee on Market Access holds third thematic session on supply chain resilience

    Source: WTO

    Headline: Committee on Market Access holds third thematic session on supply chain resilience

    The moderator of the session, Mr Iain Fifer of the United Kingdom, emphasized the critical role of trade data in analyzing and enhancing the resilience of supply chains. He noted the challenges in gathering reliable, timely and relevant data, and underlined how such information can inform decision-making.
    Thailand highlighted logistical challenges related to train freight routes from Thailand to Europe. While rail transport is faster than ocean freight and cheaper than air freight, it faces significant obstacles such as customs clearance issues at multiple borders, a lack of harmonized standards, and higher costs compared to sea freight. Additionally, it stressed how limitations in rail infrastructure add complexity.
    China emphasized the importance of multilateral and bilateral trade frameworks, such as those supported by the WTO, in ensuring smooth supply chain operations. It underscored technological advances, particularly in big data and green energy, as key influencers of the development of global supply chains. China also announced the upcoming release of its Global Supply Chain Connectivity Index at the second China International Supply Chain Expo in November 2024. The document will provide a quantitative assessment of the resilience and stability of global supply chains.
    India focused on the three fundamental pillars of supply chains — production, logistics and markets. It also underlined the importance of digital infrastructure in bolstering supply chain resilience. Additionally, India discussed initiatives such as the Unified Logistics Interface Platform and the PM Gati Shakti National Master Plan, which utilize geospatial data to enhance infrastructure connectivity and logistics efficiency.
    The United States introduced its newly established Supply Chain Center within the Department of Commerce, designed to enhance supply chain resilience. The unit’s “Scale” tool assesses risks across sectors of the US economy by evaluating more than 40 indicators of criticality, vulnerability and resiliency in supply chains. The tool provides an in-depth view of current risks to better inform policy decisions, the United States underlined.
    Switzerland presented an initiative led by the Organisation for Economic Cooperation and Development (OECD) aimed at improving the transparency and resilience of medical supply chains. The initiative was prompted by the supply shortages experienced during the COVID-19 pandemic. Switzerland’s project involves a monitoring mechanism designed to increase visibility in global medical supply chains and address future disruptions through international cooperation and the use of advanced technologies such as artificial intelligence.
    In his conclusion, the moderator emphasized the importance of data design and collection in creating a comprehensive understanding of various supply chains. He stressed that data sharing and collaboration were central themes of the discussion, noting that swift and accurate exchange of information between stakeholders and governments is essential. Additionally, he acknowledged the significant analytical work required after data collection and pointed out that once data analysis is completed, it must be effectively utilized to guide policymaking. The session also featured examples of ongoing policy initiatives shaped by data-driven projects.
    The interim Chair of the Market Access Committee, Ms Nicola Waterfield of Canada, expressed appreciation for the presentations and highlighted the importance of the discussions. She also announced that the Committee’s next formal meeting is scheduled for 19-20 November 2024.

    Share

    MIL OSI Global Banks –

  • MIL-OSI Video: United Nations Day 2024 – UN Chief Message | United Nations

    Source: United Nations (Video News)

    Video message by António Guterres, Secretary-General of the United Nations, for United Nations Day (24 October 2024).

    —

    “The United Nations was built by the world, for the world.

    Since 1945, it has been the place for countries to unite behind global solutions to global problems.

    Solutions that ease tensions, build bridges and forge peace.

    Solutions to eradicate poverty, spur sustainable development, and stand up for the most vulnerable.

    Solutions that deliver lifesaving relief to people living through conflicts, violence, economic hardship, and climate disasters.

    Solutions that level the scales of justice and equality for women and girls.

    Solutions that tackle issues that were unimaginable in 1945 — climate change, digital technology, artificial intelligence, and outer space.

    In September, the General Assembly adopted the Pact for the Future, the Global Digital Compact and the Declaration on Future Generations.

    Together, these milestone agreements will help ensure that the United Nations system adapts, reforms and rejuvenates, so it is fit for the changes and challenges around us and delivers solutions for all.

    But our work will always be rooted in the timeless values and principles of the UN Charter and international law, and in the dignity and human rights of every person.

    In today’s troubled world, hope is not enough.

    Hope requires determined action and multilateral solutions for peace, shared prosperity and a thriving planet.

    Hope requires all countries working as one.

    Hope requires the United Nations.

    On United Nations Day, I call on all countries to keep this beacon for the world, and its ideals, shining”.

    More info: un.org

    https://www.youtube.com/watch?v=zkGcMpJlOAo

    MIL OSI Video –

  • MIL-OSI USA: Administrator Samantha Power Visits Siem Reap, Cambodia

    Source: USAID

    The below is attributable to Spokesperson Benjamin Suarato:

    Today, Administrator Samantha Power arrived in Siem Reap, Cambodia. She began the day by visiting a Cambodian foster family who is receiving support through USAID in caring for a 11-month-old child with a disability. The family’s caseworker and USAID partners who support persons with disabilities and family-focused care also participated. Administrator Power recognized the tireless efforts of Cambodian partners, social workers, and foster families who are supporting child protection in Cambodia. She discussed ways for USAID to continue supporting and advocating for the rights and inclusion of people living with disabilities in Cambodia.

    Administrator Power then traveled to the Svay Thom Pagoda to discuss USAID’s efforts to support local partners in delivering innovative tuberculosis (TB) screening and diagnostic solutions. Despite Cambodia being removed from the WHO High TB Burden Country list in 2021, it remains on the global TB watchlist and experienced setbacks in TB case finding during the COVID-19 pandemic. The Administrator also announced one of USAID’s largest direct awards to a local organization in Cambodia, through which USAID will continue supporting Cambodia’s ambitious goal of ending TB as a public health threat by 2030.

    Administrator Power then met with trade union members and labor activists working at Angkor Wat, a UNESCO-recognized World Heritage Site located in Siem Reap, to discuss working conditions and other pressing labor rights issues, and how USAID support helps tourism-oriented and other trade unions address them. Administrator Power noted the Biden Administration’s strong support for labor rights, including through the 2023 Presidential Memorandum on Advancing Worker Empowerment, Rights, and High Labor Standards Globally. USAID has supported the trade union movement in Cambodia for decades, and Administrator Power discussed with the union members and activists USAID’s continued commitment to working with Cambodian worker organizations.

    MIL OSI USA News –

  • MIL-OSI USA: Administrator Samantha Power at a Press Gaggle in Siem Reap

    Source: USAID

    ADMINISTRATOR SAMANTHA POWER: Good afternoon, everyone. Thank you for coming. Thanks also to our partners from the Cambodian government who have joined us here today. 

    This is my fourth trip to Cambodia, but it is my first trip to Cambodia as USAID Administrator. But, maybe more significant than that, it is the first trip to Cambodia ever by the USAID Administrator, despite decades of investments that USAID has made in economic development, health development, food security, and the like. So, I feel really personally privileged to be back in a country that I find incredibly beautiful, filled with such warm and hospitable people who have welcomed me many times over the years. To now get to come back as USAID Administrator, it’s a great privilege. 

    I had the chance to tour a tuberculosis screening clinic here at the Svay Thom Pagoda. Over the past five years, USAID’s Community Mobilization Initiatives to End TB, which we have called COMMIT, has helped Cambodia make remarkable progress preventing, detecting, and treating tuberculosis. And, I got to see this screening effort, at least in one of them, up close. 

    In the past 20 years, Cambodia has cut the rate of tuberculosis in this country by almost half, and the country is no longer on the World Health Organization’s list of the 30 highest TB Burden Countries. That is genuine progress. But, of course, the fight against TB is not over. An estimated 54,000 Cambodians contract TB still every year, and about a third of TB cases go undetected. 

    So, to help Cambodia meet its goal of ending TB in this country by 2030, I am pleased today to announce a new five year initiative, which we will call COMMIT II, the second phase of our investment here. We will start with an initial $4 million investment for the first year of the program, with additional funding to come. 

    I want to stress that this is one of the largest local direct awards that USAID has ever given to a local Cambodian organization. We think it’s extremely important to invest directly in Cambodian organizations that are doing the work out in their communities to advance the health and the interests of the Cambodian people. 

    Through this program, COMMIT II, we will work directly with local communities to improve TB screening, diagnosis, and TB preventive therapy. We will focus especially on identifying and treating the cases that are currently going undetected. And, we know that getting at these undetected cases is the key to preventing the spread of this terrible disease. 

    Our work together, that of USAID with the Cambodian people, that of USAID with the Cambodian health ministry, is really just one example of the productive health partnership that has developed over the last decades. And it is also, I think, reflective of what is a deepening partnership between the United States and Cambodia, and between the American people and the Cambodian people. 

    I’d like to say a word about malaria as well. Over the past decade, the U.S. has invested $87 million to support Cambodia’s efforts to eliminate malaria. These efforts, led by the Cambodian people, have been a stunning success, with Cambodia registering zero malaria deaths since 2017 and now on track to completely eliminate malaria as soon as next year. 

    We have also supported Cambodia’s efforts to make childbirth safer for mothers and for infants. Since 2005, Cambodia has reduced maternal deaths by 67 percent, infant deaths by 71 percent, and deaths of children under five by 81 percent. 

    The United States and the American people also stood with the Cambodian people during the COVID-19 pandemic, delivering 3.3 million vaccines and providing $16 million in other support. 

    We are really gratified now that Cambodia has become a new partner in the U.S. Global Health Security Strategy, which aims at making sure that Cambodia has the infrastructure to have the surveillance capacity in communities, the lab equipment and testing equipment that it needs in order to prevent, detect, and respond to future health threats. 

    Now we are supporting Cambodia taking on another urgent health threat, and this is one that – while I know the press has covered TB in the past, has covered the incredible progress made against malaria – this may be a harm and a form of illness that even the press has not yet given significant coverage to. And, this issue is lead poisoning, and specifically the lead poisoning of children. 

    Lead poisoning slows a child’s brain development. It harms their bodies, and it can even kill children. Lead poisoning affects an estimated six million children here in Cambodia. That’s over 70 percent of all kids in this country. 

    Taking on this global menace of lead poisoning is extremely important to USAID. It is an urgent priority for the United States government as a whole, and Cambodia has already made itself a really important partner in this effort. Cambodia was one of just 26 founding member countries in a brand new Partnership for a Lead-Free Future that we just launched in September at the UN General Assembly. And, we are really thankful to the Cambodian Health Ministry and to the government for stepping forward and being a leader in raising its hand and committing itself to eliminating lead poisoning for children here in Cambodia.

    Lead poisoning, unlike a lot of other diseases, is really hard to detect. It is tough to know also what the source of lead poisoning is. Is it spices? Is it paint? Is it the recycling of batteries that is causing lead poisoning? 

    Today, which as it happens, is part of international Lead Poisoning Prevention Week, I am pleased to announce that USAID will support Cambodia’s first-ever national survey to evaluate the levels of lead and other heavy metals in the blood levels of children and pregnant women. We will also look together at the level of lead in products in Cambodian stores. And, we will together work to understand how prevalent lead is in the environment. To be clear, understanding where lead poisoning is coming from here in Cambodia is absolutely critical to preventing it going forward. 

    USAID will also work together with the Royal Government of Cambodia and with UNICEF to take steps to mitigate lead exposure by raising awareness and developing policies and regulations that will prevent future exposure. Together, I am confident that just as we have on malaria and TB and just as we did on COVID-19, together we will make progress against this invisible threat.

    USAID stands ready to support the doctors, the teachers, the parents, the government officials and the citizens who want to rid their communities of lead poisoning once and for all. This partnership matters a great deal to the United States. We see how far it can go, and we are very satisfied with the progress that we have seen in the health sector, and eager to learn from it, to see how we can propel progress in other sectors as well. 

    And with that, I am happy to take your questions. Thank you.

    QUESTION: My name is Chamna. I am from Cambodianess, a news outlet based in Siem Reap and Phnom Penh, ma’am. So, ma’am, my first question is that you know, as the first USAID Administrator to Cambodia, visited Cambodia for two days, can you give us, like, a brief activity that you have done and also you will do tomorrow?

    And, the second question is that, why do you choose Siem Reap, one of the cultural provinces of Cambodia, to visit, ma’am? And, also the third question, I was informed that you will visit Prime Minister Hun Manet tomorrow. So, what do you hope to communicate with the Prime Minister, ma’am?

    ADMINISTRATOR POWER: That’s a lot of questions. So, let me start with why did I come to Siem Reap. This is my third trip to Siem Reap. Once a person has come to Siem Reap once, they always insist on coming back. And, any tourist who has come if they haven’t come back, it is only because it is so far away. But, for me, when I knew I was coming to Cambodia, I’ve had such beautiful connections with the people of this town in my previous visits, such rich conversations. And again, the privilege for me is now to come as USAID Administrator and to actually see the work that we have been doing as the United States, as the American people, with the Cambodian people in communities, you know, in a manner that is not only advancing the U.S.-Cambodian partnership, but touching real lives. And so, just as the Cambodian people have touched me over the years, I felt I had to come back.

    And in terms of the content of the visit – my visit follows on, of course, the visit of Secretary [Lloyd] Austin, our Secretary of Defense. We believe really strongly in the United States in what we call the three Ds – diplomacy, defense, and development – because the three Ds reflect the needs, in a way, of all individuals, which is to be physically secure, to be free, to express oneself, and to live as one chooses and as one, and to raise children in a manner where you can imagine them fulfilling their dreams. 

    And then, of course, to develop economically. And we think that, you know, an enhanced security partnership of the kind that Secretary Austin discussed with more exchanges and more familiarity between us, more diplomatic engagement, and these really significant development investments will hopefully support those incredible Cambodians who are doing work to build a brighter Cambodia for the next generation. And, of course, young people are at the heart of Cambodia’s economic progress, and will be at the heart of its progress in strengthening its institutions, its governance, the rule of law, et cetera. 

    My visit will include, yes, a meeting with Prime Minister. I’m very much looking forward to that. I already had the chance in January of this year to meet with the Prime Minister in Davos when he attended, and I attended, the World Economic Forum. But, of course, now we have had a chance, over many more months, to work on shared challenges like strengthening global health security; to initiate new partnerships like the new partnership to combat lead poisoning. And, I look forward to talking about what more can be done, recognizing that we all want to see Cambodia’s economy continue to grow. He has been very specific, of course, about Cambodia – wanting Cambodia to become an upper middle-income country by 2030. We, as USAID, want to understand how we can be catalytic in supporting certain sectors, and so hearing directly from him about his priorities now deeper into his tenure as Prime Minister will be very important. 

    And, of course, we recognize as well that non-governmental organizations, community-based organizations, civil society organizations, that those organizations who are in the community have such an important role to play as well in delivering services like we saw being delivered, in screening tuberculosis, or in educating the community, but also in rooting out corruption and exposing those forces that get in the way of Cambodia’s economy reaching its full potential, and above all, the Cambodian people benefiting as much as they should from all that Cambodia offers and all that young people are investing in that economy. So, I will see the Prime Minister. 

    I will, of course, later today – I can’t come to Siem Reap without seeing some of Angkor Wat. I will engage with individuals outside of government who are looking at, you know, what more can be done, again, to strengthen freedom and governance and the rule of law in this country. And, you know, I’m really looking forward to learning. On every trip, I learned so much, and Cambodia has changed really so much since my last visit to this country, which was back in 2012. Even just driving around, I can see so many of the changes. But again, my privilege is to be here as USAID Administrator and to talk to our incredible team about what more we can do to accelerate the progress in support of Cambodian leaders, inside and outside ministries.

    QUESTION: Okay, ma’am. Also, my second question has two parts, of course. Now, you’re touring the TB, you know, let’s say, progress. How to eliminate them, how to make the system better. So, what are the development[s] that you see so far back then, back there, when you tour the, you know, the mechanism, and also, what are the challenges that still remain? That, you know, when you talk to the expert, they say, there are many challenges out there that needs to be done. That is the first part of the question. 

    And, the second part of the question can be cultural, again, because I see doctors, I see, you know, organization experts, but, at the same time, they are working on health. But, they are not in the clinic. They are not in the hospital. They are in a pagoda, which is a sanctuary for Cambodia, so Buddhism for hundreds of years. So, when you see, you know, expert, modern, expert, modern equipment coming together with old people in the sanctuary of Cambodian religion, how do you make of the situation?

    ADMINISTRATOR POWER: Well, and this is really important, I think, to stress what is so significant about what Cambodians are doing here, is that they are coming to the people. They are bringing the equipment to diagnose whether TB is present in a person to a more central location than the people would otherwise be able to access. So, normally, this very sophisticated X-ray equipment, and the computers that process the X-rays to diagnose whether somebody is likely to have TB, these individuals would have to go very, very far [to access]. 

    And, what USAID, in partnership with the Cambodian Ministry of Health and with this non-governmental organization that has been at the forefront, what we have done together is come up with activities that are designed to move the diagnosis and, ultimately, the treatment closer to the people. And, that is what you saw here, is a large group of individuals who were told that if you come to this place at this time, you won’t have to drive miles and miles in order to get the X-rays. And so, everyone here either had some symptom of TB, or had someone in their family who had some symptom. So, in their mind, they were worried, “Maybe, would I?” but maybe they weren’t worried enough to drive so far. Maybe they couldn’t afford a bus fare, or, you know, they didn’t have a motorbike in order to be able to make it that far. 

    And so, among the people who are here, I’m sure, are people whose TB cases would have gone undetected if we had relied on the old way of doing things. And so, this is really a partnership that looks at the data, sees that a third of TB cases in Cambodia go undetected, and so we have to fix that. If Cambodia is to reach its goal of getting rid of TB by 2030, that is going to require detecting all the cases of TB so that TB then isn’t spread in communities. And, mobile clinics, mobile health workers, mobile screening is going to be a big part of that solution. 

    And, you know, I think that when one seeks out meeting places, gathering places, one looks and here again, we as the United States and as USAID, we defer entirely to the Cambodian Ministry of Health about where best to situate these mobile screening, this equipment. We may invest the resources to purchase this equipment, but fundamentally, when it comes to respecting Cambodian culture, we are the guests of the Cambodian people. We are the guests of the Cambodian Government, and we take their lead and follow their guidance about how best to, again, meet people where they are likely to feel comfortable traveling to and sitting for some time as they go through the different stages of diagnosis, you know, starting, of course, with with the X-ray. But then, if they are deemed, if it is deemed possible that they have TB, going further, and then even waiting for a couple hours to get the formal diagnosis, then the counseling that is going to come. That is a long afternoon. It’s a lot to ask of particularly elderly people, who are among those who gathered. And so to do so in a manner that is culturally sensitive, but that also allows the individuals who come the comfort of not being out in the blazing sun for the entire day. I’m assuming that is why this location was chosen.

    QUESTION: Okay, so my final question is not related to TB or but it’s more like related to your, let’s say, journalism career. So, in Cambodia right now, a lot of young people are interested in journalism, if not you know the media subject. And also, you said that you were a former journalist working in many countries and zones, and now you are a diplomat, so it’s like a career transition. So, just a message for young people in Cambodia, how does journalism help shape, you know, a person’s career in the future? I mean, after they do journalism, of course.

    ADMINISTRATOR POWER: I think journalism is an incredibly important form of civic participation. All of you are bringing to your communities news and facts and often vital information that citizens need to learn. For example, when journalists cover a local happening like this in Siem Reap that there was a gathering where people were able to get TB screening and diagnosis right here, somebody reads that or they see that on the news, and then they think to themselves, “Oh, I haven’t been feeling that well. Maybe I will go and find a screening facility. Or I will ask someone if they know when next this kind of gathering is going to happen, this kind of screening, mobile screening is going to be available.” That’s an example of the kind of good that a journalist can do for their community. 

    Obviously, they’re also in countries where corruption has been an issue. Journalism can be extremely important in also helping law enforcement know where corruption is happening so that it can be rooted out. The Cambodian government really wants to continue to grow the economy. All of us would like to see more American investment in Cambodia. Journalists have a really vital role to play in shining a spotlight on the kinds of things that might need to change in order for that investment to come at a faster clip than it has up to this point. 

    So, you know, I look back on my journalism career, and I feel grateful that I had that chance to be a journalist. I feel grateful to have made some small contribution, I hope, through my journalism. But, the other thing that young people should know as they think about their careers is, if you’re a curious person, journalism is incredible. Look at you. You’ve asked that’s your sixth question. You’re clearly a very, very curious person. But, journalism is incredible because you just get to go around and ask questions, any question that comes into your mind. You can actually earn a living asking questions and learning. And so, you get to perform something that hopefully helps your community grow and progress, while also yourself satisfying the kinds of questions that you’ve had maybe since you were a small child. So, I think it’s a great career. 

    The more that Cambodia can strengthen its checks and balances, where it has more and more independent institutions, that will give investors confidence. And journalists, over time, will become more and more independent, and will be a very important source of sunlight on all the developments in Cambodia, helping it progress into a more stable and prosperous society.

    MIL OSI USA News –

  • MIL-OSI: YieldMax™ ETFs Announces Distributions on MSTY (175.64%), AIYY (100.45%), SQY (70.37%), YMAX (67.11%), YMAG (14.96%) and Others

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ ETFs listed in the table below.

    ETF
    Ticker    1    		 ETF Name Reference Asset Distribution
    per Share    		 Distribution Frequency Distribution Rate2,4,5 30-Day
    SEC
    Yield    3    		 Ex-Date &
    Record Date    		 Payment
    Date
    YMAX YieldMax™ Universe Fund of Option Income ETFs Multiple $0.2268 Weekly 67.11% 62.93% 10/24/2024 10/25/2024
    YMAG YieldMax™ Magnificent 7 Fund of Option Income ETFs Multiple $0.0545 Weekly 14.96% 50.85% 10/24/2024 10/25/2024
    MSTY YieldMax™ MSTR Option Income Strategy ETF MSTR $4.1981 Every 4 Weeks 175.64% 0.00% 10/24/2024 10/25/2024
    YQQQ   YieldMax™ Short N100 Option Income Strategy ETF N100 $0.3550 Every 4 Weeks 24.82% 3.63% 10/24/2024 10/25/2024
    AMZY YieldMax™ AMZN Option Income Strategy ETF AMZN $0.7632 Every 4 Weeks 50.32% 3.27% 10/24/2024 10/25/2024
    APLY YieldMax™ AAPL Option Income Strategy ETF AAPL $0.3428 Every 4 Weeks 24.35% 3.17% 10/24/2024 10/25/2024
    AIYY YieldMax™ AI Option Income Strategy ETF AI $0.7241 Every 4 Weeks 100.45% 3.76% 10/24/2024 10/25/2024
    DISO YieldMax™ DIS Option Income Strategy ETF DIS $0.5146 Every 4 Weeks 40.88% 3.41% 10/24/2024 10/25/2024
    SQY YieldMax™ SQ Option Income Strategy ETF SQ $1.0201 Every 4 Weeks 70.37% 3.44% 10/24/2024 10/25/2024
    SMCY YieldMax™ SMCI Option Income Strategy ETF SMCI $5.3541 Every 4 Weeks _ _ 10/24/2024 10/25/2024
    Scheduled for next week: TSLY CRSH GOOY YBIT OARK XOMO SNOY TSMY


    The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling     (833) 378-0717.

    Note: DIPS, FIAT, CRSH and YQQQ are hereinafter referred to as the “Short ETFs”.

    Distributions are not guaranteed.   The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

    1  All YieldMax™ ETFs (except YMAX, YMAG and ULTY) have a gross expense ratio of 0.99%. YMAX and YMAG have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio of 1.24% but the investment adviser has agreed to a 0.10% fee waiver through at least February 28, 2025.

    2  The Distribution Rate shown is as of close on October 22, 2024. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.

    3  The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended September 30. 2024, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period. As of such date, the ULTY subsidized and unsubsidized 30-Day SEC Yields were 0.00% and 0.00%, respectively. The subsidized yield reflects fee waivers in effect while the unsubsidized yield does not adjust for any fee waivers in effect.

    4  Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.

    5  As of the date hereof, distributions for the following ETFs have included return of investor capital: TSLY, OARK, APLY, AMZY, NVDY, GOOY, JPMO, XOMO, PYPY, CONY, DISO, FBY, MSFO, NFLY, SQY, AMDY, MRNY, AIYY, MSTY, ULTY, YMAX, YMAG, YBIT, SNOY, CRSH, GDXY and FIAT. For additional information, please visit http://www.YieldMaxETFs.com/TaxInfo.

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Standardized Performance

    For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here

    Prospectuses

    Click here.

    Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information are in the prospectus. Please read the prospectuses carefully before you invest.

    There is no guarantee that any Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment in any such Fund.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs and ZEGA Financial is their sub-adviser.

    THE FUND, TRUST, AND SUB-ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERNCE ASSET.

    Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

    YMAX and YMAG generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.

    Investing involves risk. Principal loss is possible.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer time periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to BABO and TSMY)

    Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

    Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

    Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

    Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

    Risk Disclosures (applicable only to GDXY)

    Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

    Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

    The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

    Risk Disclosures (applicable only to YBIT)

    YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

    Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

    Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

    Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

    Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

    Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer time periods.

    Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to YQQQ)

    Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

    Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

    Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given time period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, YieldMax™ ETFs or ZEGA Financial.

    © 2024 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI: Talen Energy to Report Third Quarter 2024 Financial Results on November 12, 2024

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Oct. 23, 2024 (GLOBE NEWSWIRE) — Talen Energy Corporation (“Talen”) (NASDAQ: TLN) plans to release its third quarter 2024 financial results on Tuesday, November 12, 2024, before market open. President and Chief Executive Officer Mac McFarland and Chief Financial Officer Terry Nutt will discuss the financial and operating results during an earnings call at 10:00 a.m. EST (9:00 a.m. CST) on November 12, 2024.

    To listen to the earnings call, please register in advance for the webcast here. For participants joining the call via phone, please register here prior to the start time to receive dial-in information. For those unable to participate in the live event, a digital replay of the earnings call will be archived for approximately one year and available on Talen’s Investor Relations website at https://ir.talenenergy.com/news-events/events.

    About Talen
    Talen Energy (NASDAQ: TLN) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 10.7 gigawatts of power infrastructure in the United States, including 2.2 gigawatts of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet principally located in the Mid-Atlantic and Montana. Our team is committed to generating power safely and reliably, delivering the most value per megawatt produced and driving the energy transition. Talen is also powering the digital infrastructure revolution. We are well-positioned to capture this significant growth opportunity, as data centers serving artificial intelligence increasingly demand more reliable, clean power. Talen is headquartered in Houston, Texas. For more information, visit https://www.talenenergy.com/.

    Investor Relations:
    Ellen Liu
    Senior Director, Investor Relations
    InvestorRelations@talenenergy.com

    Media:
    Taryne Williams
    Director, Corporate Communications
    Taryne.Williams@talenenergy.com

    Forward-Looking Statements
    This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecasts,” “goal,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources and accounting matters. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from expectations, and are subject to numerous factors that present considerable risks and uncertainties.

    The MIL Network –

  • MIL-OSI: Starget Pharma and Cancer Focus Fund Announce $5.1 Million Investment to Support Phase 1b Clinical Trial of Novel Peptide Radioligand for Precision Cancer Therapy

    Source: GlobeNewswire (MIL-OSI)

    • Starget’s Smart Targeted Radioligand (STR) Theranostics Enable Precise Targeted Delivery of Highly Focused Molecular Radiation Directly to Cancer Cells while Minimizing Damage to Healthy Tissues
    • Lead Program DOTA–PTR-58 Was Developed Using Starget’s Proprietary Peptide Backbone Dynamics Platform that Leverages Backbone Cyclic Innovations and In-Silico AI to Rapidly Design Highly Specific Ligands

    TEL AVIV, Israel and HOUSTON, Oct. 23, 2024 (GLOBE NEWSWIRE) — Starget Pharma (Starget), a clinical stage biotechnology company developing precision peptide radioligand therapies, and Cancer Focus Fund, LP, a unique investment fund established in collaboration with The University of Texas MD Anderson Cancer Center (MD Anderson) to provide funding and clinical expertise to advance promising clinical therapies, today announced a $5.1 million investment from Cancer Focus Fund to support a Phase 1b clinical trial of Starget’s lead theranostic, DOTA-PTR-58. The trial will target tumors overexpressing somatostatin receptor type 3 (SSTR-3), including sarcomas, neuroendocrine tumors (NET), melanoma, and hepatocellular carcinomas. The trial will be conducted at MD Anderson and other centers and will begin enrolling patients in early 2025.

    Targeted theranostic radiotherapy combines diagnostic imaging with targeted treatment to provide personalized care for advanced metastatic cancers. Using patient data, theranostics precisely targets tumor cells, delivering localized radiotherapy that can either generate diagnostic images or directly destroy cancer cells. This approach offers greater precision and a wider therapeutic window than conventional radiation therapy.

    “This investment validates the potential of our smart targeted radioligands to provide safer and more effective therapies for challenging cancers,” said Sigal Kalmanson Cusnir, CEO of Starget Pharma. “Our Backbone Dynamics technology enables us to transform peptides into next-generation radiopharmaceuticals with enhanced properties. We look forward to collaborating with MD Anderson on this Phase 1b trial of DOTA-PTR-58, a first-in-class theranostic that has demonstrated both safety and tumor uptake in early studies. We believe our proprietary technology offers significant advantages over existing radioligand therapies, particularly for advanced cancer patients with limited options.”

    Starget’s Backbone Dynamics technology is an innovative peptide radioligand drug design platform that uses proprietary backbone cyclization to create molecules with enhanced stability, selectivity, and pharmacokinetics. The platform accelerates the design of new radioligand candidates, facilitating the rapid development of cancer therapies with enhanced efficacy and safety.

    “Starget Pharma’s novel STR technology exemplifies the potential cancer breakthroughs we seek to support,” said Ross Barrett, a founder and Managing Partner of Cancer Focus Fund. “Recent successes with peptide-based radioligands have begun to realize the promise of this approach, and Starget’s proprietary Backbone Dynamics technology further advances these gains by enhancing peptide diversity and optimizing candidate selection for a variety of difficult-to-treat cancers.”

    Jordi Rodón, MD, PhD, Associate Professor of Investigational Cancer Therapeutics at MD Anderson, will serve as Principal Investigator of the Phase 1b trial.

    About DOTA-PTR-58 and SSTR-3
    DOTA-PTR-58 is a first-in-class superagonist radioligand with sub-nanomolar affinity targeting selective somatostatin receptor type 3 (SSTR-3), a receptor highly expressed across multiple tumor types including sarcoma, melanoma, NET and hepatocellular carcinomas. Unlike the more commonly used target SSTR-2, SSTR-3 shows lower expression in normal tissues, offering a broader therapeutic window. DOTA-PTR-58 comprises a theranostic pair: Imaging with a Ga-68 isotope and therapy with a Lu-177 isotope. A follow-on program will include Imaging with a Ga-68 isotope and therapy with an Ac-225 isotope. The molecule demonstrates high in vivo tumor uptake and internalization, selectivity and significant antitumor activity.

    About Starget Pharma
    Starget Pharma is a clinical stage company developing a pipeline of radiotherapy programs generated using its proprietary Backbone Dynamics peptide platform that leverages backbone cyclic innovations and in-silico AI to rapidly design highly specific Smart Targeted Radioligands (STRs) that deliver focused radiation for the imaging and treatment of cancer. These STR’s are designed to engage novel and validated tumor-specific targets with either alpha or beta isotopes. Starget’s lead program targets SSTR-3, a somatostatin receptor that is overexpressed in tumor cells compared to healthy tissues and has enhanced cell internalization compared to other tumor targets. First-in-human data has demonstrated promising safety and good tumor uptake. A Phase 1b trial is expected to begin in early 2025 at MD Anderson and other centers. Beyond its lead program, Starget has a robust pipeline encompassing novel tumor targets and isotopes, offering first-in-class and best-in-class potential for a variety of metastatic cancers. For more information, visit stargetpharma.com.

    About Cancer Focus Fund
    The Cancer Focus Fund LP is a unique investment fund established in collaboration with The University of Texas MD Anderson Cancer Center (MD Anderson). The fund provides investment support to advance promising cancer therapies that are close to being tested in humans or are in early clinical development, as well as the clinical trial expertise and infrastructure of MD Anderson and strategic partners Ochsner Health System Precision Cancer Therapies Program New Orleans and the LSU Feist Weiller Cancer Center Shreveport. The Fund’s objective is to leverage this unique combination to provide investors with superior risk-adjusted returns. In collaboration with partner MD Anderson, the Cancer Focus Fund provides both capital and translational research expertise with the goal of accelerating the development of novel cancer therapies that result in better outcomes for patients while generating returns for investors.

    Disclosures
    The University of Texas MD Anderson Cancer Center’s relationship with Cancer Focus Fund, and all research conducted at MD Anderson related to Cancer Focus Fund, has been identified as an institutional financial conflict of interest by MD Anderson’s Institutional Conflict of Interest Committee and therefore is managed under an Institutional Conflict of Interest Management and Monitoring Plan.

    Contacts

    Starget Pharma
    Corporate:
    Sigal Kalmanson Cusnir
    Chief Executive Officer
    sigal@stargetpharma.com

    Media:
    ir@stargetpharma.com

    Cancer Focus Fund
    Corporate:
    Ross Barrett
    Managing Partner
    ross@cancerfocusfund.com

    Media:
    Barbara Lindheim
    BLL Partners for Cancer Focus Fund
    blindheim@bllbiopartners.com
    +1 917 355-9234

    The MIL Network –

  • MIL-OSI: Climb Channel Solutions Launches NA Partnership with Software Management Platform Vendor, FinQuery

    Source: GlobeNewswire (MIL-OSI)

    EATONTOWN, N.J., Oct. 23, 2024 (GLOBE NEWSWIRE) — Climb Channel Solutions, an international specialty technology distributor and wholly owned subsidiary of Climb Global Solutions, Inc. (NASDAQ: CLMB) announced the addition of FinQuery to their North American line card.

    FinQuery’s unified, AI-powered platform empowers companies to take control of their software assets and contracts. The Software Management platform provides full visibility and streamlined management, enabling partners to optimize spending, reduce risk, and improve forecasting.

    “We are thrilled to partner with Climb Channel Solutions to bring the power of FinQuery’s Software Management platform to a wider audience,” said FinQuery CEO and founder, George Azih. “This collaboration represents a significant step in our mission to empower organizations with the tools and insights they need to take control of their software assets and drive greater financial and operational success.”

    The strategic partnership with Climb Channel Solutions will expand the reach of FinQuery’s Software Management platform, enabling them to assist a broader range of organizations in achieving significant cost savings, mitigating risk, and enhancing overall efficiency. By tapping into Climb’s vast network, FinQuery aims to recruit new resellers and actively engage potential customers, further establishing itself as a leader in software management solutions.

    “Climb is excited about the addition of FinQuery and their Software Management platform which offers total visibility into where companies spend most of their budget; leases, contacts, and software applications,” said Dale Foster, CEO of Climb Channel Solutions. “In a time where businesses are focused on spend and ROI, FinQuery’s dedication to uniting IT and finance provides a unique solution to our partner ecosystem optimizing their software costs, efficiency and security.”

    Those interested in distribution services and solutions should contact Climb by phone at +1.800.847.7078 (US), or +1.888.523.7777 (Canada), or by email at Sales@ClimbCS.com.

    About Climb Channel Solutions and Climb Global Solutions

    Climb Channel Solutions is a global specialty technology distributor focusing on Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud, and Software & Application Lifecycle. What sets Climb apart is our commitment to transform distribution by providing emerging and established IT technologies, flexible financing, real-time quoting, best of breed channel operations, speed to market, and exceptional service to our partners worldwide. Climb Channel Solutions is a wholly owned subsidiary of Climb Global Solutions (NASDAQ: CLMB). Experience the Climb difference and learn how our people-first approach empowers VARs and MSPs to grow, scale, and accelerate their business. Visit http://www.ClimbCS.com, call 1-800-847-7078, and connect with us on LinkedIn!

    For Media & PR inquiries contact:
    Climb Channel Solutions
    Media Relations
    media@ClimbCS.com

    Investor Relations Contact:
    Elevate IR
    Sean Mansouri, CFA
    T: 720-330-2829
    CLMB@elevate-ir.com

    About Relationship/Company

    FinQuery, formerly LeaseQuery, empowers 36,000+ professionals to optimize decisions in their top spending areas—leases, software subscriptions and financial contracts—setting us apart in the market. Our award-winning AI-driven software minimizes risk, boosts efficiency and cuts costs.

    Explore FinQuery’s platform for contract and spend intelligence today.

    For Media & PR inquiries contact:
    FinQuery
    Shannon Matthews, Manager, Marketing Communications
    shannon.matthews@finquery.com

    The MIL Network –

  • MIL-OSI: Landsbankinn hf.: Financial results of Landsbankinn for the first nine months of 2024

    Source: GlobeNewswire (MIL-OSI)

    • Landsbankinn’s after-tax profit in the first nine months of 2024 amounted to ISK 26.9 billion, ISK 10.8 billion thereof in the third quarter.
    • Return on equity (ROE) was 11.7%, compared with 10.5% for the same period the previous year.
    • The net interest margin was 2.9% and the net interest margin of domestic households rises from 2% to 2.1% due to higher reserve requirements.
    • Net interest income amounted to ISK 44.1 billion and net fee & commission income was ISK 8.1 billion.
    • Net impairments were negative by ISK 2.0 billion, largely attributable to uncertainty about the financial impact of natural disaster on the Reykjanes peninsula.
    • The cost-income ratio was 32.3%, compared with 34.6% in the same period of 2023.
    • The total capital ratio was 24.1% at the end of the period. The total capital requirement of the Financial Supervisory Authority (FSA) of the Central Bank of Iceland is 20.4%.
    • In September, the FSA published the results of its assessment, finding that Landsbankinn is eligible to control a qualifying holding in TM tryggingar hf. (TM). The conclusion of the Icelandic Competition Authority in the same case is pending.

    Lilja Björk Einarsdóttir, CEO of Landsbankinn:

    “These results reflect sound operation and growing activity. The Bank is advancing in all areas and fee and commission income is robust in line with our focus on adding services and growing our market share. On-going development of Landsbankinn’s app and new features are clearly translating into increased use, not least among young customers. We see this in pension savings, for example, where growth in supplementary pension agreements with young people has reached 17.3% since the feature was added to the app. 

    While use of our digital solutions continues to grow, customers are still active in visiting the Bank to seek advice and other services offered in our branches and Customer Service Centre. We operate 35 branches and outlets around Iceland and are always happy to see our customers – in the past quarter, around 85,000 visits were logged with cashiers and advisors. We emphasise initiative in our customer relations and mortgage holders with the Bank, whose mortgages were nearing the end of a fixed-rate term, received a call from the Bank and a consultation offer.

    In recent years, higher interest rates have resulted in good returns on the Bank’s liquid assets yet also made funding more costly, especially with higher deposit rates which customers enjoy in the form of improved return on their savings. As an example, the most favourable deposit rates the Bank currently offers corporates are 8.64% on an annualised basis. The Bank’s net interest margin has narrowed since the previous quarter and the interest margin of households, which is the difference between non-indexed mortgage rates and interest on non-fixed term savings, is currently 2.1%.

    Robust lending growth this year to date has been somewhat surprising in light of high interest rate levels but funding to meet this increase has been successful, and delinquencies remain low. The Bank’s loan book has grown by ISK 155 billion, or 9.5%. Of the total, loans to retail customers represent ISK 53.6 billion, almost all in the form of mortgages. Because of increased demand for inflation-indexed mortgages and higher funding terms on indexed bonds, we have changed the availability of indexed mortgages to, among other things, reduce demand. We continue to offer the best terms among the domestic banks but now only offer equal payment mortgages to first-time buyers. While monthly payments will be higher for those who select indexed loans, asset formation will also be quicker. This allowed us to keep interest rate hikes moderate and we are of the opinion that this change is more positive for the majority of our customers.

    A recent green issuance in the amount of EUR 300 million was very successful, achieving the most favourable terms any Icelandic bank has gotten in quite some while. Part of the proceeds from the issuance will be allocated to repay older bonds issued at even more favourable terms so that the net impact is slightly higher funding cost for the Bank.

    We await the conclusion of the Icelandic Competition Authority in the matter of the Bank’s purchase of TM. In the interim, there are rules that limit communication between the companies. If the conclusion is positive, the Bank will finalise the purchase without delay and the project can get off to a full start. With the Bank’s purchase of TM, our aim is to offer customers even better and varied service through all our service channels.”

    Landsbankinn’s financial calendar

    • Annual results 2024 30 January 2025 
    • Annual General Meeting 19 March 2025
    • Q1 2025 30 April 2025
    • Q2 2025 17 July 2025
    • Q3 2025 23 October 2025
    • Annual results 2025 29 January 2026

    For further information contact:

    Public Relations, pr@landsbankinn.is

    Investor Relations, ir@landsbankinn.is

    Attachments

    The MIL Network –

  • MIL-OSI: Lloyds Bank PLC: 2024 Q3 Interim Management Statement

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Oct. 23, 2024 (GLOBE NEWSWIRE) —

    Lloyds Bank plc
    Q3 2024 Interim Management Statement
    23 October 2024

    Member of the Lloyds Banking Group

    FINANCIAL REVIEW

    Income statement

    The Group’s profit before tax for the first nine months of 2024 was £3,927 million, 27 per cent lower than the same period in 2023. This was driven by lower net interest income and higher operating expenses, partly offset by a lower impairment charge. Profit after tax was £2,727 million (nine months to 30 September 2023 £3,975 million).

    Total income for the first nine months of 2024 was £12,613 million, a decrease of 8 per cent on the same period in 2023. Within this, net interest income of £9,378 million was 10 per cent lower on the prior year, driven by a lower margin. The lower margin reflected anticipated headwinds due to deposit churn and asset margin compression, particularly in the mortgage book as it refinances in a lower margin environment. These factors were partially offset by benefits from higher structural hedge earnings as balances are reinvested in the higher rate environment.

    Other income amounted to £3,235 million in the nine months to 30 September 2024 compared to £3,268 million in the same period in 2023, with improved UK Motor Finance performance, reflecting growth following the acquisition of Tusker in the first quarter of 2023, increased fleet size and higher average rental value, partially offset by the impact of changes to commission arrangements with Scottish Widows.

    Operating expenses of £8,392 million were 13 per cent higher than in the prior year. This includes the impacts of higher operating lease depreciation, largely as a result of fleet growth, the depreciation of higher value vehicles and declines in used electric car prices, alongside higher ongoing strategic investment, accelerated severance charges and inflationary pressure. It also includes c.£0.1 billion relating to the sector-wide change in the charging approach for the Bank of England Levy taken in the first quarter. In the nine months to 30 September 2024, the Group recognised remediation costs of £118 million (nine months to 30 September 2023: £127 million), largely in relation to pre-existing programmes, with no further charges in respect of the FCA review of historical motor finance commission arrangements. The FCA confirmed in September 2024 its intention to set out next steps in its review in May 2025, including its assessment of the outcome of the Judicial Review and Court of Appeal decisions involving other market participants; the Group will assess the impact, if any, of these decisions.

    The impairment charge was £294 million compared with a £881 million charge in the nine months to 30 September 2023. The decrease reflects a larger credit from improvements to the Group’s economic outlook in the first half of the year, notably house price growth and through changes to the severe downside scenario methodology. The charge also benefitted from strong portfolio performance, a large debt sale write-back, and a release in Commercial Banking from loss rates used in the model. Asset quality remains strong with resilient credit performance.

    Balance sheet

    Total assets were £4,207 million higher at £609,612 million at 30 September 2024 compared to £605,405 million at 31 December 2023. Financial assets at amortised cost were £15,406 million higher at £503,477 million compared to £488,071 million at 31 December 2023 with increases in reverse repurchase agreements of £11,128 million and loans and advances to customers of £7,355 million, partly offset by a reduction in loans and advances to banks of £2,919 million. The increase in reverse repurchase agreements and the decrease in cash and balances at central banks by £17,984 million to £39,925 million reflected a change in the mix of liquidity holdings. The increase in loans and advances to customers included growth in UK mortgages, UK Retail unsecured loans, credit cards and the European retail business, partly offset by government-backed lending repayments in Commercial Banking. Financial assets at fair value through other comprehensive income were £5,032 million higher reflecting a change in the mix of liquidity holdings. Other assets increased by £1,864 million to £28,925 million, driven by higher settlement balances and higher operating lease assets reflecting continued motor finance growth.

    Total liabilities were £4,390 million higher at £569,364 million compared to £564,974 million at 31 December 2023. Customer deposits at £446,311 million have increased by £4,358 million since the end of 2023, driven by inflows to limited withdrawal and fixed term savings products, partly offset by a reduction in current account balances and an expected significant outflow in Commercial Banking. In addition, repurchase agreements at £41,370 million have increased by £3,668 million since the end of 2023. Debt securities in issue at amortised cost decreased by £7,369 million to £45,080 million at 30 September 2024. Amounts due to fellow Lloyds Banking Group undertakings increased by £1,510 million to £4,442 million at 30 September 2024. Other liabilities increased by £3,042 million to £12,926 million, driven by higher settlement balances.

    Total equity was £40,248 million at 30 September 2024 was broadly stable compared to £40,431 million at 31 December 2023, with the profit for the period largely offset by interim dividends of £3.4 billion, pension revaluations and movements in the cash flow hedging reserve.

    FINANCIAL REVIEW (continued)

    Capital

    The Group’s common equity tier 1 (CET1) capital ratio reduced to 13.6 per cent at 30 September 2024 (31 December 2023: 14.4 per cent). This largely reflected profit for the period, offset by the payment of interim ordinary dividends, the accrual for foreseeable ordinary dividends and an increase in risk-weighted assets.

    The Group’s total capital ratio reduced to 19.8 per cent (31 December 2023: 20.5 per cent). The issuance of AT1 and Tier 2 capital instruments was more than offset by the reduction in CET1 capital, the reduction in eligible provisions recognised through Tier 2 capital, the impact of regulatory amortisation and foreign exchange on Tier 2 capital instruments and the increase in risk-weighted assets.

    Risk-weighted assets have increased by £2,350 million to £184,910 million at 30 September 2024 (31 December 2023: £182,560 million). This reflects the impact of Retail lending growth, Retail secured CRD IV model updates and other movements, partly offset by optimisation including capital efficient securitisation activity.

    The Group’s UK leverage ratio reduced to 5.3 per cent (31 December 2023: 5.6 per cent). This reflected both the reduction in the total tier 1 capital position and an increase in the leverage exposure measure, principally related to the increase in securities financing transactions and other balance sheet movements.

     
    CONDENSED CONSOLIDATED INCOME STATEMENT (UNAUDITED)
     
      Nine
    months ended
    30 Sep
    2024
    £m    		     Nine
    months ended
    30 Sep
    2023
    £m    		  
           
    Net interest income 9,378     10,432  
    Other income 3,235     3,268  
    Total income 12,613     13,700  
    Operating expenses (8,392 )   (7,457 )
    Impairment (294 )   (881 )
    Profit before tax 3,927     5,362  
    Tax expense (1,200 )   (1,387 )
    Profit for the period 2,727     3,975  
           
    Profit attributable to ordinary shareholders 2,454     3,708  
    Profit attributable to other equity holders 256     249  
    Profit attributable to equity holders 2,710     3,957  
    Profit attributable to non-controlling interests 17     18  
    Profit for the period 2,727     3,975  
     
    CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED)
     
      At 30 Sep
    2024
    £m    		     At 31 Dec
    2023
    £m    		  
               
    Assets          
    Cash and balances at central banks 39,925     57,909  
    Financial assets at fair value through profit or loss 1,990     1,862  
    Derivative financial instruments 2,926     3,165  
    Loans and advances to banks 5,891     8,810  
    Loans and advances to customers 440,479     433,124  
    Reverse repurchase agreements 43,879     32,751  
    Debt securities 12,569     12,546  
    Due from fellow Lloyds Banking Group undertakings 659     840  
    Financial assets at amortised cost 503,477     488,071  
    Financial assets at fair value through other comprehensive income 32,369     27,337  
    Other assets 28,925     27,061  
    Total assets 609,612     605,405  
               
    Liabilities          
    Deposits from banks 3,474     3,557  
    Customer deposits 446,311     441,953  
    Repurchase agreements 41,370     37,702  
    Due to fellow Lloyds Banking Group undertakings 4,442     2,932  
    Financial liabilities at fair value through profit or loss 4,964     5,255  
    Derivative financial instruments 3,583     4,307  
    Debt securities in issue at amortised cost 45,080     52,449  
    Other liabilities 12,926     9,884  
    Subordinated liabilities 7,214     6,935  
    Total liabilities 569,364     564,974  
               
    Equity          
    Share capital 1,574     1,574  
    Share premium account 600     600  
    Other reserves 2,904     2,395  
    Retained profits 29,667     30,786  
    Ordinary shareholders’ equity 34,745     35,355  
    Other equity instruments 5,428     5,018  
    Non-controlling interests 75     58  
    Total equity 40,248     40,431  
    Total equity and liabilities 609,612     605,405  
    ADDITIONAL FINANCIAL INFORMATION
     

    1.  Basis of presentation

    This release covers the results of Lloyds Bank plc together with its subsidiaries (the Group) for the nine months ended 30 September 2024.

    Accounting policies

    The accounting policies are consistent with those applied by the Group in its 2023 Annual Report and Accounts

    2.  Capital

    The Group’s Q3 2024 Interim Pillar 3 Disclosures can be found at http://www.lloydsbankinggroup.com/investors/financial-downloads.html.

    3.  UK economic assumptions

    Base case and MES economic assumptions

    The Group’s base case scenario is for a slow expansion in GDP and a modest rise in the unemployment rate alongside small gains in residential and commercial property prices. Following a reduction in inflationary pressures, cuts in UK Bank Rate are expected to continue during 2024 and 2025. Risks around this base case economic view lie in both directions and are largely captured by the generation of alternative economic scenarios.

    The Group has taken into account the latest available information at the reporting date in defining its base case scenario and generating alternative economic scenarios. The scenarios include forecasts for key variables as of the third quarter of 2024. Actuals for this period, or restatements of past data, may have since emerged prior to publication and have not been included, including specifically in the Quarterly National Accounts release of 30 September 2024. The Group’s approach to generating alternative economic scenarios is set out in detail in note 19 to the financial statements for the year ended 31 December 2023. For September 2024, the Group continues to judge it appropriate to include a non-modelled severe downside scenario for ECL calculations as explained in note 12 of the Group’s 2024 Half-Year news release.

    UK economic assumptions – base case scenario by quarter

    Key quarterly assumptions made by the Group in the base case scenario are shown below. Gross domestic product is presented quarter-on-quarter. House price growth, commercial real estate price growth and CPI inflation are presented year-on-year, i.e. from the equivalent quarter in the previous year. Unemployment rate and UK Bank Rate are presented as at the end of each quarter.

    At 30 September 2024 First
    quarter
    2024
    %    		   Second
    quarter
    2024
    %    		   Third
    quarter
    2024
    %    		   Fourth
    quarter
    2024
    %    		 First
    quarter
    2025
    %    		 Second
    quarter
    2025
    %    		 Third
    quarter
    2025
    %    		 Fourth
    quarter
    2025
    %
                     
    Gross domestic product 0.7   0.6   0.3   0.3 0.3 0.3 0.4 0.4
    Unemployment rate 4.3   4.2   4.3   4.5 4.6 4.7 4.8 4.8
    House price growth 0.4   1.8   5.3   3.1 3.2 3.6 2.4 2.0
    Commercial real estate price growth (5.3 ) (4.7 ) (2.5 ) 0.3 1.4 1.9 1.6 1.7
    UK Bank Rate 5.25   5.25   5.00   4.75 4.50 4.25 4.00 4.00
    CPI inflation 3.5   2.1   2.1   2.7 2.4 2.9 2.7 2.3
                           

    ADDITIONAL FINANCIAL INFORMATION (continued)

    3.  UK economic assumptions (continued)

    UK economic assumptions – scenarios by year

    Key annual assumptions made by the Group are shown below. Gross domestic product and CPI inflation are presented as an annual change, house price growth and commercial real estate price growth are presented as the growth in the respective indices within the period. Unemployment rate and UK Bank Rate are averages for the period.

    At 30 September 2024 2024
    %    		   2025
    %    		   2026
    %    		   2027
    %    		   2028
    %    		   2024-2028
    average
    %
                 
    Upside            
    Gross domestic product 1.2   2.4   1.9   1.5   1.4   1.7  
    Unemployment rate 4.2   3.3   2.8   2.7   2.8   3.1  
    House price growth 3.5   4.6   7.1   6.4   5.1   5.3  
    Commercial real estate price growth 1.6   9.0   4.2   1.8   0.7   3.4  
    UK Bank Rate 5.06   5.08   5.16   5.34   5.58   5.24  
    CPI inflation 2.6   2.7   2.4   2.8   2.8   2.7  
                 
    Base case            
    Gross domestic product 1.1   1.3   1.5   1.5   1.5   1.4  
    Unemployment rate 4.3   4.7   4.7   4.5   4.5   4.5  
    House price growth 3.1   2.0   1.0   1.5   2.1   2.0  
    Commercial real estate price growth 0.3   1.7   2.1   0.7   0.3   1.0  
    UK Bank Rate 5.06   4.19   3.63   3.50   3.50   3.98  
    CPI inflation 2.6   2.6   2.1   2.2   2.1   2.3  
                 
    Downside            
    Gross domestic product 1.0   (0.3 ) 0.4   1.3   1.5   0.8  
    Unemployment rate 4.4   6.5   7.3   7.3   7.1   6.5  
    House price growth 2.9   (0.2 ) (6.1 ) (5.8 ) (2.9 ) (2.5 )
    Commercial real estate price growth (0.7 ) (6.2 ) (1.7 ) (1.9 ) (1.9 ) (2.5 )
    UK Bank Rate 5.06   3.11   1.48   0.96   0.65   2.25  
    CPI inflation 2.6   2.6   1.9   1.5   1.1   2.0  
                 
    Severe downside            
    Gross domestic product 0.9   (2.0 ) (0.1 ) 1.1   1.4   0.2  
    Unemployment rate 4.6   8.6   9.9   9.9   9.7   8.5  
    House price growth 2.3   (2.5 ) (13.5 ) (12.6 ) (8.3 ) (7.1 )
    Commercial real estate price growth (2.7 ) (16.5 ) (6.5 ) (6.5 ) (5.1 ) (7.6 )
    UK Bank Rate – modelled 5.06   1.83   0.23   0.06   0.02   1.44  
    UK Bank Rate – adjusted1 5.13   3.67   2.55   2.16   1.88   3.08  
    CPI inflation – modelled 2.6   2.6   1.5   0.7   0.1   1.5  
    CPI inflation – adjusted1 2.6   3.5   1.8   1.3   0.9   2.0  
                 
    Probability-weighted            
    Gross domestic product 1.1   0.8   1.1   1.4   1.4   1.2  
    Unemployment rate 4.3   5.2   5.4   5.3   5.3   5.1  
    House price growth 3.1   1.7   (0.7 ) (0.6 ) 0.5   0.8  
    Commercial real estate price growth 0.1   (0.3 ) 0.7   (0.5 ) (0.8 ) (0.1 )
    UK Bank Rate – modelled 5.06   3.90   3.10   2.95   2.92   3.59  
    UK Bank Rate – adjusted1 5.07   4.08   3.33   3.15   3.11   3.75  
    CPI inflation – modelled 2.6   2.6   2.0   2.0   1.8   2.2  
    CPI inflation – adjusted1 2.6   2.7   2.1   2.1   1.9   2.3  
                             

    1 The adjustment to UK Bank Rate and CPI inflation in the severe downside is considered to better reflect the risks to the Group’s base case view in an economic environment where the risks of supply and demand shocks are seen as more balanced.

    ADDITIONAL FINANCIAL INFORMATION (continued)

    4.  Loans and advances to customers and expected credit loss allowance

    At 30 September 2024 Stage 1
    £m    		     Stage 2
    £m    		     Stage 3
    £m    		     POCI
    £m    		     Total
    £m    		     Stage 2
    as % of
    total    		   Stage 3
    as % of
    total
                               
    Loans and advances to customers
                               
    UK mortgages 271,138     28,389     4,545     6,949     311,021     9.1   1.5
    Credit cards 13,429     2,620     262     –     16,311     16.1   1.6
    Loans and overdrafts 8,839     1,374     173     –     10,386     13.2   1.7
    UK Motor Finance 14,390     2,314     119     –     16,823     13.8   0.7
    Other 16,702     513     150     –     17,365     3.0   0.9
    Retail 324,498     35,210     5,249     6,949     371,906     9.5   1.4
    Small and Medium Businesses 26,393     3,430     1,303     –     31,126     11.0   4.2
    Corporate and Institutional Banking 37,564     2,306     637     –     40,507     5.7   1.6
    Commercial Banking 63,957     5,736     1,940     –     71,633     8.0   2.7
    Other1 260     –     –     –     260     –   –
    Total gross lending 388,715     40,946     7,189     6,949     443,799     9.2   1.6
    ECL allowance on drawn balances (764 )   (1,228 )   (1,106 )   (222 )   (3,320 )        
    Net balance sheet carrying value 387,951     39,718     6,083     6,727     440,479          
                               
    Customer related ECL allowance (drawn and undrawn)
                               
    UK mortgages 86     321     339     222     968          
    Credit cards 207     351     129     –     687          
    Loans and overdrafts 170     242     111     –     523          
    UK Motor Finance2 169     105     68     –     342          
    Other 15     18     42     –     75          
    Retail 647     1,037     689     222     2,595          
    Small and Medium Businesses 138     190     160     –     488          
    Corporate and Institutional Banking 126     125     259     –     510          
    Commercial Banking 264     315     419     –     998          
    Other –     –     –     –     –          
    Total 911     1,352     1,108     222     3,593          
                               
    Customer related ECL allowance (drawn and undrawn) as a percentage of loans and advances to customers
                               
    UK mortgages –     1.1     7.5     3.2     0.3          
    Credit cards 1.5     13.4     49.2     –     4.2          
    Loans and overdrafts 1.9     17.6     64.2     –     5.0          
    UK Motor Finance 1.2     4.5     57.1     –     2.0          
    Other 0.1     3.5     28.0     –     0.4          
    Retail 0.2     2.9     13.1     3.2     0.7          
    Small and Medium Businesses 0.5     5.5     12.3     –     1.6          
    Corporate and Institutional Banking 0.3     5.4     40.7     –     1.3          
    Commercial Banking 0.4     5.5     21.6     –     1.4          
    Other –     –     –     –     –          
    Total 0.2     3.3     15.4     3.2     0.8          
                                         

    1 Contains central fair value hedge accounting adjustments.

    2 UK Motor Finance includes £170 million relating to provisions against residual values of vehicles subject to finance leases.

    FORWARD-LOOKING STATEMENTS

    This document contains certain forward-looking statements within the meaning of Section 21E of the US Securities Exchange Act of 1934, as amended, and section 27A of the US Securities Act of 1933, as amended, with respect to the business, strategy, plans and/or results of Lloyds Bank plc together with its subsidiaries (the Lloyds Bank Group) and its current goals and expectations. Statements that are not historical or current facts, including statements about the Lloyds Bank Group’s or its directors’ and/or management’s beliefs and expectations, are forward-looking statements. Words such as, without limitation, ‘believes’, ‘achieves’, ‘anticipates’, ‘estimates’, ‘expects’, ‘targets’, ‘should’, ‘intends’, ‘aims’, ‘projects’, ‘plans’, ‘potential’, ‘will’, ‘would’, ‘could’, ‘considered’, ‘likely’, ‘may’, ‘seek’, ‘estimate’, ‘probability’, ‘goal’, ‘objective’, ‘deliver’, ‘endeavour’, ‘prospects’, ‘optimistic’ and similar expressions or variations on these expressions are intended to identify forward-looking statements. These statements concern or may affect future matters, including but not limited to: projections or expectations of the Lloyds Bank Group’s future financial position, including profit attributable to shareholders, provisions, economic profit, dividends, capital structure, portfolios, net interest margin, capital ratios, liquidity, risk-weighted assets (RWAs), expenditures or any other financial items or ratios; litigation, regulatory and governmental investigations; the Lloyds Bank Group’s future financial performance; the level and extent of future impairments and write-downs; the Lloyds Bank Group’s ESG targets and/or commitments; statements of plans, objectives or goals of the Lloyds Bank Group or its management and other statements that are not historical fact and statements of assumptions underlying such statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that will or may occur in the future. Factors that could cause actual business, strategy, targets, plans and/or results (including but not limited to the payment of dividends) to differ materially from forward-looking statements include, but are not limited to: general economic and business conditions in the UK and internationally; acts of hostility or terrorism and responses to those acts, or other such events; geopolitical unpredictability; the war between Russia and Ukraine; the conflicts in the Middle East; the tensions between China and Taiwan; political instability including as a result of any UK general election; market related risks, trends and developments; changes in client and consumer behaviour and demand; exposure to counterparty risk; the ability to access sufficient sources of capital, liquidity and funding when required; changes to the Lloyds Bank Group’s or Lloyds Banking Group plc’s credit ratings; fluctuations in interest rates, inflation, exchange rates, stock markets and currencies; volatility in credit markets; volatility in the price of the Lloyds Bank Group’s securities; tightening of monetary policy in jurisdictions in which the Lloyds Bank Group operates; natural pandemic and other disasters; risks concerning borrower and counterparty credit quality; risks affecting defined benefit pension schemes; changes in laws, regulations, practices and accounting standards or taxation; changes to regulatory capital or liquidity requirements and similar contingencies; the policies and actions of governmental or regulatory authorities or courts together with any resulting impact on the future structure of the Lloyds Bank Group; risks associated with the Lloyds Bank Group’s compliance with a wide range of laws and regulations; assessment related to resolution planning requirements; risks related to regulatory actions which may be taken in the event of a bank or Lloyds Bank Group or Lloyds Banking Group failure; exposure to legal, regulatory or competition proceedings, investigations or complaints; failure to comply with anti-money laundering, counter terrorist financing, anti-bribery and sanctions regulations; failure to prevent or detect any illegal or improper activities; operational risks including risks as a result of the failure of third party suppliers; conduct risk; technological changes and risks to the security of IT and operational infrastructure, systems, data and information resulting from increased threat of cyber and other attacks; technological failure; inadequate or failed internal or external processes or systems; risks relating to ESG matters, such as climate change (and achieving climate change ambitions) and decarbonisation, including the Lloyds Bank Group’s or the Lloyds Banking Group’s ability along with the government and other stakeholders to measure, manage and mitigate the impacts of climate change effectively, and human rights issues; the impact of competitive conditions; failure to attract, retain and develop high calibre talent; the ability to achieve strategic objectives; the ability to derive cost savings and other benefits including, but without limitation, as a result of any acquisitions, disposals and other strategic transactions; inability to capture accurately the expected value from acquisitions; and assumptions and estimates that form the basis of the Lloyds Bank Group’s financial statements. A number of these influences and factors are beyond the Lloyds Bank Group’s control. Please refer to the latest Annual Report on Form 20-F filed by Lloyds Bank plc with the US Securities and Exchange Commission (the SEC), which is available on the SEC’s website at http://www.sec.gov, for a discussion of certain factors and risks. Lloyds Bank plc may also make or disclose written and/or oral forward-looking statements in other written materials and in oral statements made by the directors, officers or employees of Lloyds Bank plc to third parties, including financial analysts. Except as required by any applicable law or regulation, the forward-looking statements contained in this document are made as of today’s date, and the Lloyds Bank Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this document whether as a result of new information, future events or otherwise. The information, statements and opinions contained in this document do not constitute a public offer under any applicable law or an offer to sell any securities or financial instruments or any advice or recommendation with respect to such securities or financial instruments.

    CONTACTS

    For further information please contact:

    INVESTORS AND ANALYSTS

    Douglas Radcliffe
    Group Investor Relations Director
    020 7356 1571
    douglas.radcliffe@lloydsbanking.com

    Nora Thoden
    Director of Investor Relations – ESG
    020 7356 2334
    nora.thoden@lloydsbanking.com

    Tom Grantham
    Investor Relations Senior Manager
    07851 440 091
    thomas.grantham@lloydsbanking.com

    Sarah Robson
    Investor Relations Senior Manager
    07494 513 983
    sarah.robson2@lloydsbanking.com

    CORPORATE AFFAIRS

    Grant Ringshaw
    External Relations Director
    020 7356 2362
    grant.ringshaw@lloydsbanking.com

    Matt Smith
    Head of Media Relations
    07788 352 487
    matt.smith@lloydsbanking.com

    Copies of this News Release may be obtained from:
    Investor Relations, Lloyds Banking Group plc, 25 Gresham Street, London EC2V 7HN
    The statement can also be found on the Group’s website – http://www.lloydsbankinggroup.com

    Registered office: Lloyds Bank plc, 25 Gresham Street, London EC2V 7HN
    Registered in England No. 2065

    This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit http://www.rns.com.

    The MIL Network –

  • MIL-OSI China: 2024 WSTDF opens in Beijing

    Source: China State Council Information Office 2

    The 2024 World Science and Technology Development Forum commenced in Beijing on Oct. 22, 2024. [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), commenced in Beijing on Oct. 22. Focusing on the theme of “Science and Technology for the Future,” the forum seeks to advance the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative, harness international expertise for high-quality development, foster cross-cultural scientific exchanges, and tackle global challenges through innovation and technological solutions.
    He Junke, executive vice chairman of WSTDF 2024 and executive president of CAST, presided over the opening remarks session and the release of the forum’s achievements. Wan Gang, chairman of WSTDF 2024 and president of CAST, delivered the opening speech. In his address, Wan presented four proposals, namely, deepening global opening up and cooperation in basic research; continuing to promote the healthy development of artificial intelligence; supporting young scientific talents in their innovation and creation; and strengthening global science and technology governance through opening up and collaboration.
    Wan Gang emphasized the need for all parties involved to share insights and collective wisdom to achieve mutual benefit in a spirit of unity and cooperation and with an open, inclusive mindset. He called for joint efforts in creating global technological solutions to sustainable development and building a community with a shared future for mankind.
    Following the opening, participants visited an exhibition honoring Liu Hui, who lived from A.D. 225-295 and is regarded as one of the founders of classical Chinese mathematical theories.
    The main activities of the forum in Beijing will run until Oct. 24, featuring six major thematic sessions and three roundtable dialogues, along with several cultural exchange events. Over 350 guests from 33 countries and regions will engage in discussions at the forum. Among them are 14 Nobel, Turing andLasker Award winners, 27 heads of international science and technology organizations, 41 academicians from home and abroad, and over 200 experts and scholars from renowned universities, research institutions and enterprises. The forum is set to conclude in Beijing on Oct. 30.
    Initiated by CAST in 2019, the WSTDF has played a positive role in promoting people-to-people exchanges in science and technology, broadening channels for international collaboration, and fostering greater openness, trust and cooperation.

    MIL OSI China News –

  • MIL-OSI Economics: Galaxy AI to Support 20 Languages by End of 2024

    Source: Samsung

    Samsung Electronics Co., Ltd. today announced the upcoming expansion of four new languages for Galaxy AI1: Turkish, Dutch, Swedish and Romanian. Existing supported languages will also expand to cover additional dialects in traditional Chinese and Portuguese (Europe). This expanded support will begin rolling out from the end of October.
    Galaxy AI currently supports 16 languages2, and by the end of the year that number will go up to 20 with these new additions. This update means even more users will be able to lower language barriers and step into a larger world with the power of Galaxy AI. The new languages and dialects will be available for download as language packs from the Settings app of compatible Galaxy devices.
    For more information about Galaxy AI, please visit: Samsung Newsroom, Samsungmobilepress.com or Samsung.com.

    1 Galaxy AI features by Samsung will be provided for free until the end of 2025 on supported Samsung Galaxy devices.
    2 Supported languages include Arabic, Chinese (China mainland, Hong Kong), English (Australia, India, United Kingdom, United States), French (Canada, France), German, Hindi, Indonesian, Italian, Japanese, Korean, Polish, Portuguese (Brazil), Russian, Spanish (Mexico, Spain, United States), Thai and Vietnamese.

    MIL OSI Economics –

  • MIL-OSI USA: Gov. Kemp: New AIG Office Hub to Create 600 Metro Atlanta Jobs

    Source: US State of Georgia

    Atlanta, GA – Governor Brian P. Kemp today announced that American International Group, Inc. (AIG), a leading global insurance company, will establish a new innovation hub in DeKalb County. The facility will triple AIG’s current Atlanta-area office space to accommodate over 1,000 employees, including the creation of more than 600 new roles over the next five years.

    “Again and again, job creators are choosing the No. 1 state for business not just for first-time investment, but for expansion as well,” said Governor Brian Kemp. “AIG’s decision to grow their footprint here in Georgia is just the latest confirmation that we have what businesses want and are leveraging those assets to their fullest so we can bring new opportunity to all parts of the state. I want to thank our local and state partners who made this project possible, and I look forward to it’s long-lasting, positive impacts.”

    With operations and network partners in more than 190 countries and jurisdictions, AIG provides insurance solutions that help businesses and individuals protect their assets and manage risks. AIG’s new Atlanta innovation hub, set to open in 2026, will be designed as a collaborative workspace where teams representing every aspect of AIG’s business will work together to test new processes and incubate digital capabilities to build value for clients and partners.

    “For many years, AIG has been a part of Atlanta’s thriving business community, and we look forward to creating more than 600 high-quality jobs that will provide rewarding opportunities for the talented and skilled local workforce,” said Peter Zaffino, Chairman & Chief Executive Officer, AIG. “This investment is part of our commitment to continue to enhance our expertise to help our clients and partners navigate complex and emerging risks, while building additional capabilities for the future.”

    The company will hire for various roles across underwriting, claims, operations, data engineering, and AI. Interested individuals can learn more about open roles and careers with AIG at http://www.aig.com/careers. For more information about AIG’s new Atlanta hub, visit http://www.aig.com/newsroom.

    “Known for its highly regarded universities, hospitals, and healthcare industry, DeKalb County is renowned for fostering sustainable economic growth and prosperity,” said DeKalb County CEO Michael Thurmond. “Ranked as a top Fortune 100 company and recognized on Forbes’ first-ever list of America’s Best Employers for Tech Workers, we are delighted that AIG will bring additional business investment and employment opportunities to our county.”

    “The quality of a company like AIG and the caliber of the employees that will call it home is a perfect fit for Brookhaven’s Perimeter Summit,” said Brookhaven Mayor John Park. “Job creation is extremely important in any economy, and we appreciate the leadership and collaboration of GDEcD and Decide DeKalb to bring AIG to Brookhaven.”

    “AIG’s expansion is a testament to what we’ve been saying for years: this region was built for business,” said Katie Kirkpatrick, president and CEO of the Metro Atlanta Chamber. “The new Brookhaven location strengthens AIG’s presence in metro Atlanta and creates new jobs for Georgians as the company builds on its continued success.”

    Assistant Director of Statewide Projects John Soper represented the Georgia Department of Economic Development (GDEcD) Global Commerce team on this project in partnership with Decide DeKalb, Georgia Power, the Metro Atlanta Chamber, and the University System of Georgia.

    “For years, we lost some of our best and brightest talent to out-of-state opportunities. That’s no longer the case,” said GDEcD Commissioner Pat Wilson. “AIG’s office hub is a great example of the type of investment that will keep our well-educated, diverse talent engaged here at home after graduation.”

    About American International Group, Inc. (AIG)

    American International Group, Inc. (NYSE: AIG) is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in approximately 190 countries and jurisdictions protect their assets and manage risks through AIG operations and network partners. For additional information, visit http://www.aig.com

    MIL OSI USA News –

  • MIL-OSI: The Pet Hazard Decking Your Halls: truInsights into Foreign Body Ingestion & Holiday Decor

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, Oct. 23, 2024 (GLOBE NEWSWIRE) — Tis the season for holiday decor. But all those haunted Halloween decorations, Thanksgiving centerpieces and Christmas ornaments present a hidden danger pet parents need to watch out for.

    In 2023 alone, pet medical insurance company Trupanion (Nasdaq: TRUP) received more than 24,000 foreign body ingestion claims. Foreign body ingestion (FBI) is a painful, sometimes deadly, and costly condition that happens when a pet eats something they can’t pass through their gastrointestinal system without veterinary help.

    “Keep a close eye on your pets during the holiday season,” says veterinarian and Trupanion General Manager, Dr. Stephen Rose, BVSc (Hons1) M Infotech CVA ACVCHM. “And if you suspect your pet ate something they shouldn’t have, don’t risk it—reach out to your veterinarian to have them examined to be sure. It’s better to be safe than sorry in these instances.”

    Foreign Body Ingestion: By the Numbers

    In 2023, Trupanion paid 24,305 foreign body ingestion claims. The average claim was $878, while the highest claim was $27,403.

    Amongst Trupanion’s current population of insured pets, 7% of dogs and 3% of cats have had an FBI claim. Puppies and kittens have the most FBI claims of any age group by far. Pets under 1 year of age claim 322% more than adults and senior pets. Adult pets claim 34% more than senior pets.

    Top 5 Dog Breeds Claiming

    • Doberman Pinscher
    • Maltese
    • Boston Terrier
    • Shih Tzu
    • German Pointer

    Top 5 Cat Breeds Claiming

    • Persian
    • Bengal
    • Russian Blue
    • Sphynx
    • Siberian

    The Science & Medicine of Foreign Body Ingestion

    When a pet eats a foreign object that they can’t pass through their gastrointestinal system, it can become lodged anywhere along the GI Tract and cause a variety of symptoms from vomiting and diarrhea to obstruction, organ damage, and even death.

    Early signs and symptoms of foreign body ingestion are vomiting, diarrhea, lethargy, refusal of food or loss of appetite, whining, restlessness, pain in the belly, straining to defecate or being unable to fully vacate the bowels.

    If these symptoms are observed, it’s recommended that the pet is seen by a veterinarian as quickly as possible so that they can be evaluated for foreign body ingestion.

    During the examination, the vet may perform diagnostic imaging such as x-rays to see if a foreign object can be seen, or use a substance called Barium which when swallowed, illuminates on the radiographs to show if there is a blockage somewhere along the GI tract, and can help track the foreign material.

    Surgery is often needed to safely remove foreign objects from the GI tract to prevent further damage. The vet may also support with IV fluids, prescribing pain and/or nausea medications, inducing vomiting, performing bloodwork to check organ function, as well as observation while the pet passes the object.

    Prognosis is based on many factors such as what the pet ingested, how long the object has been stuck in the GI tract, where in the tract the object is stuck, and how healthy the pet is otherwise.

    Early intervention is always better. If too much time passes before treatment, the pet’s health may continue to decline, and if the blockage is an intestinal or stomach obstruction, the blood flow to organs can be affected, which can result in permanent damage or necrosis of those tissues. In these cases, just a few hours can mean the difference between life or death.

    Keeping Your Pets Safe During the Holidays

    Common items that pets ingest that result in foreign body ingestion include clothing (often socks and underwear), sticks, bones, corn cobs, champagne corks, food packaging and wrappers, dental floss, hair elastics, and toy stuffing or squeakers.

    During the holidays, the big ones to watch out for are decorations like tinsel, garlands, ribbons, and string. In fact, there is a specific type of very dangerous foreign body ingestion called a Linear Foreign Body, where things like strings or ribbons get lodged anywhere from the tongue down the esophagus and into the stomach and intestines. These linear foreign objects can cause the intestines to bunch and slice through the tissues as the body tries to expel them.

    “Keep a close eye on your pets during the holiday season,” says veterinarian and Trupanion General Manager, Dr. Stephen Rose, BVSc (Hons1) M Infotech CVA ACVCHM. “There’s a lot going on—a lot of distractions for pet parents, and a lot of objects around the house this time of year that look like toys to our pets, so it’s vital to remain vigilant. On special occasions, ensure you’re cleaning up wrapping paper, bows, and ribbons after opening gifts, and when entertaining, keep pets contained and out of the kitchen so they don’t have access to food and bones, and to prevent guests from feeding them things they shouldn’t eat. And if you suspect your pet ate something they shouldn’t have, don’t risk it—reach out to your veterinarian to have them examined to be sure. It’s better to be safe than sorry in these instances.”

    More Foreign Body Ingestion Safety Tips

    • Provide gates and pens to control what areas pet have access to
    • Check toys regularly to ensure they’re still intact
    • Dispose of toys that are coming apart to prevent ingestion of stuffing, strings and squeakers
    • Keep laundry room doors closed to prevent access to laundry baskets and detergent pods
    • Keep bathroom and bedroom doors closed to prevent access to garbage cans and other debris

    About truInsights

    truInsights is a data focused initiative introduced by Trupanion and designed to deliver valuable health-related data and insights to pet parents, veterinarians and pet lovers alike. With over 20 years of pet health data, Trupanion has explored its veterinary invoice data from nearly two million pets and provides details on data trends, as well as prevention tips for keeping our pets safe.

    About Trupanion

    Trupanion is a leader in medical insurance for cats and dogs throughout the United States, Canada, Europe, Puerto Rico and Australia with over 1,000,000 pets currently enrolled. For over two decades, Trupanion has given pet owners peace of mind so they can focus on their pet’s recovery, not financial stress. Trupanion is committed to providing pet parents with the highest value in pet medical insurance with unlimited payouts for the life of their pets. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. Trupanion is listed on NASDAQ under the symbol “TRUP”. The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly-owned insurance entity American Pet Insurance Company and, in Canada, by Accelerant Insurance Company of Canada. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. Policies are sold and administered by Trupanion Managers USA, Inc. (CA license No. 0G22803, NPN 9588590). For more information, please visit trupanion.com.

    Contacts:

    Media: Trupanion Corporate Communications

    Corporate.communications@trupanion.com

    The MIL Network –

  • MIL-OSI: authID Announces Launch of its Biometric Identity Services with Imperial Technologies

    Source: GlobeNewswire (MIL-OSI)

    Expands market presence into telecommunications vertical

    DENVER, Oct. 23, 2024 (GLOBE NEWSWIRE) —  authID® (Nasdaq: AUID), a leading provider of biometric identity verification and authentication solutions, today announced Imperial Technologies Inc., a broadband and wireless high-speed internet provider across all 50 states, has signed a multi-year agreement and launched authID’s biometric identity and document verification services to streamline and secure new customer onboarding.

    With the high frequency of identity fraud, deepfakes, and social engineering account takeover attacks, Imperial wanted to streamline its customer onboarding and reduce the resources required to perform manual and often error-prone identity checks. The company selected authID because of its ability to deliver a fully orchestrated identity verification solution that is fast, accurate, user-friendly, and helped accelerate good customer conversion, while stopping fraud quickly.

    “authID stood out among the various identity providers because of its biometric platform’s ability to securely onboard and seamlessly authenticate our customer base with the highest levels of identity assurance,” said Faiz Chaudhry, CEO of Imperial Technologies. “Together authID and Imperial Technologies are re-shaping the landscape of digital customer acquisition with highly secure identity trust that does not compromise on speed or convenience.”

    Imperial Technologies is now leveraging authID’s document-based biometric identity verification to streamline onboarding with an easy, intuitive user experience delivered in any browser to any device. authID stops identity fraud with PAD Level 2 liveness confirmation, ID anti-spoofing checks, and facial biometric matching of a selfie to the credential photo, all in a market-leading 700 milliseconds. To help users seamlessly authenticate their identities at any time, authID extends the value of that root of trust with biometric authentication that replaces friction-filled one-time passwords and easily compromised knowledge-based answers (KBA).

    “This customer win and our expansion into the telecommunications vertical demonstrates our broad product fit and our strong ability to ensure enterprises ‘Know Who’s Behind the Device’ during onboarding and throughout the user journey to prevent cybercriminals using malicious AI from impersonating users, deploying deepfakes, or performing account takeovers,” said Rhon Daguro, CEO of authID. “authID is committed to helping Imperial Technologies enjoy the highest levels of identity trust delivered with market-leading speed, accuracy, and frictionless identity experiences that deepen customer loyalty.”

    About authID
    authID® (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented, biometric identity platform. authID quickly and accurately verifies a user’s identity and eliminates any assumption of ‘who’ is behind a device to prevent cybercriminals from compromising account openings or taking over accounts. Combining secure digital onboarding, FIDO2 passwordless login, and biometric authentication and account recovery, with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, eliminates password risks and costs, and provides the fastest, frictionless, and the more accurate user identity experience demanded by today’s digital ecosystem. Contact us to discover how authID can help your organization secure your workforce or consumer applications against identity fraud, cyberattacks and account takeover.

    About Imperial Technologies Inc.
    Imperial Technologies Inc., headquartered in Atlanta, Georgia, offers wireless & wireline connectivity across North America. Imperial Wireless, Imperial Internet, Imperial Smart Security, Imperial Mobile, Imperial Voice, and Imperial GPS are all part of the same family belonging to Imperial Technologies Inc. Our goal is to simplify your Connectivity experience. Smart Innovation & customer satisfaction are the driving force behind our products. We are committed to ensure that our solutions meet the needs of both households and businesses nationwide. Learn more at http://www.imperialinternet.com

    Media Contacts
     Walter Fowler
    1-631-334-3864
    wfowler@nexttechcomms.com

    Investor Relations Contacts
    Investor-Relations@authid.ai

    Gateway Group, Inc.
    Cody Slach and Alex Thompson
    1-949-574-3860
    AUID@gateway-grp.com

    The MIL Network –

  • MIL-OSI: Music Licensing, Inc. (OTC: SONG) Corrects ROI to 110.43% on 30-Year Royalty Stream Deal Involving Works by Miley Cyrus, Elton John, Lil Nas X, and XXXTENTACION, While Retaining Lifetime Ownership Rights

    Source: GlobeNewswire (MIL-OSI)

    Naples, FL, Oct. 23, 2024 (GLOBE NEWSWIRE) — Music Licensing, Inc. (OTC: SONG), a leader in the acquisition and management of music royalties, is issuing a correction regarding the financial performance of its recent sale of a 30-year royalty stream, which includes works by major artists such as Miley Cyrus, Elton John, Lil Nas X, and XXXTENTACION. The company initially reported a return on investment (ROI) of 106.04%. Upon recalculation, the correct ROI is 110.43%, following the receipt of additional royalty payments.

    Music Licensing, Inc. has received royalty payments totaling $36,489 USD since acquiring the rights to these works on November 23, 2023, alongside $140,200 USD generated from the sale of the 30-year royalty stream. With an initial acquisition cost of $160,000 USD, the company’s recalculated ROI demonstrates even stronger financial performance from this strategic investment.

    Works Included in the Transaction:

    • Miley Cyrus: “Unholy”
    • Elton John & Lil Nas X: “ONE OF ME”
    • Halsey: “clementine”
    • Halsey: “Honey”
    • Halsey: “Honey (John Cunningham Demo)”
    • Lauv: “I (Don’t) Have A Problem”
    • XXXTENTACION: “Kill My Vibe”
    • Lil Nas X: “LIFE AFTER SALEM”
    • Lil Wayne & XXXTENTACION: “School Shooters”
    • XXXTENTACION: “THE ONLY TIME I FEEL ALIVE”
    • 347aidan: “what i think about”
    • Halsey: “wipe your tears”
    • Halsey: “Lilith”

    Transaction Highlights:

    • Total Revenue from Sale: $140,200 USD from the sale of the 30-year royalty stream.
    • Royalties Already Received: $36,489 USD in royalty payments since acquisition.
    • Initial Investment: The company acquired the rights to these works for $160,000 USD on November 23, 2023.
    • Total ROI: Including both the royalty stream sale and royalties received, Music Licensing, Inc. has achieved a 110.43% ROI.

    Benefits to Shareholders:

    This transaction continues to demonstrate Music Licensing, Inc.’s ability to generate immediate returns while preserving future revenue potential. By monetizing a portion of future royalties, the company has not only realized significant returns but also retains ownership of these valuable assets for future revenue beyond the 30-year royalty stream. This strategic approach ensures that shareholders benefit from both short-term gains and long-term value creation.

    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.

    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 / ssmith@smallcapvoice.com

    SOURCE: Music Licensing, Inc.

    The MIL Network –

  • MIL-OSI: Clinical ink Announces the Promotion of John Pappadakis to Chief Commercial Officer and Megan Petrylak to Chief Operating Officer

    Source: GlobeNewswire (MIL-OSI)

    Winston Salem, NC, Oct. 23, 2024 (GLOBE NEWSWIRE) — Clinical ink, a global life science technology company, announces the promotion of John Pappadakis from EVP, Global Business Development to Chief Commercial Officer and Megan Petrylak from EVP, Clinical Operations to Chief Operating Officer. Jonathan Goldman MD, CEO of Clinical ink commented: “I am delighted to announce the promotion of two of our most seasoned and experienced executives.  With John Pappadakis as CCO, and Megan Petrylak as COO, Clinical ink has the ideal leadership team to drive us to the next phase of growth.  Our unwavering focus on quality and innovation make us the partner of choice for our biopharmaceutical partners and the patients they serve.”

    John Pappadakis, Chief Commercial Officer

    John Pappadakis has 34 years of experience in sales and marketing leadership roles within the pharma industry. His career includes commercial and R&D positions at Oracle and IMS Health, following positions of increasing seniority at Pfizer and Parke-Davis where he launched over 30 new molecular entities.

    As Clinical ink’s EVP, Global Business Development, John devised an innovative go-to-market strategy centered around the addition of scientific and medical expertise, and the incorporation of new FDA requirements into the Clinical ink technology platform.  His vision inspired the creation of the company’s newest integrated cardiometabolic product, GlucoseReady™.  Under his leadership, the company recruited a world-class commercial team and demonstrated record levels of key BD metrics.

    As Chief Commercial Officer, John will further diversify Clinical ink’s customer base with the addition of new large, medium and small biopharmaceutical companies, whilst solidifying the company’s CRO relationships and other industry alliances.  His plans include the deepening of the therapeutic area focus on cardiometabolic, CNS, immunology and oncology, the introduction of an end-to-end decentralized/digital health platform centered around eCOA and EDCXtra™, as well as new licensing-based business models.  Moving forward, John will be announcing novel and transformative AI-driven clinical trial innovations.

    Megan Petrylak, Chief Operating Officer

    Megan Petrylak has over 14 years of clinical trial experience in senior operational leadership roles. She has particularly focused on driving successful outcomes in phase 1-3 clinical trials for a wide range of global biopharmaceutical and CRO customers. Prior to her 6 year tenure at Clinical ink, Megan served as Director of Project Delivery at Worldwide Clinical Trials. Prior to that role, she headed Bioclinica’s centers for imaging and eClinical project management.

    As EVP, Clinical Operations, Megan oversaw Clinical ink’s entire customer, site, and patient-facing operations function.  She augmented the team with deep expertise in data management and data quality, mandating a quality-first culture. This resulted in impressive increases in customer satisfaction, complemented by significant reductions in all study build and execution metrics and excellent quality outcomes.  In addition, Megan’s team successfully launched new products including GlucoseReady™ and EDCXtra™ and has developed a range of industry partnerships including TransPerfect for translations and eClinical Solutions for complex data solutions.  Her deep subject matter expertise in eCOA and data management has been recognized at numerous industry consortia and she has served as an expert speaker at meetings such as the Society of Clinical Data Management.

    In her new role as Chief Operating Officer, Megan will oversee significant growth in Clinical ink’s revenue, broadening the customer base and expanding the range of integrated solutions. Her plans include upscaling the team to support the planned growth in revenue and margin profile, aided by automation of key operational and data processes. Megan will continue to prioritize quality to drive operational excellence and ensure exceptional delivery to clients.  

    About Clinical ink

    Clinical ink is the global life science company bringing data, technology, and patient-centric research together. Our deep therapeutic-area expertise, coupled with behavioral science, eDC/Direct Data Capture, eCOA, eConsent, telehealth, and digital biomarkers advancement (including the use of Continuous Glucose Monitoring for detection of hypoglycemia), support the next generation of clinical trials and ultimately, the clinical management of patients.

    The MIL Network –

  • MIL-OSI: Voters Express Growing Concerns About Deepfake Technology Ahead of 2024 Elections: Global Survey Reveals Rising Fears

    Source: GlobeNewswire (MIL-OSI)

    RESTON, Va., Oct. 23, 2024 (GLOBE NEWSWIRE) — As the 2024 U.S. elections approach, a new survey by Regula, a global leader in identity verification solutions, reveals growing voter concerns about hyper-realistic fake content. Many respondents worry that deepfakes could manipulate public opinion, undermine trust in the media, and jeopardize the integrity of election results.

    Given the evolution of AI-generated content into highly sophisticated tools of deception, voters and institutions feel uncertain about the upcoming wave of fake news.

    Image: Regula’s Deepfake Trends study reveals growing fears as deepfakes threaten to distort our perception of reality

    Key highlights from the new “Deepfake Trends 2024” survey include:

    • 33% of U.S. respondents say the media is most at risk from deepfakes, fearing fake news reports and interviews that could mislead the public.
    • 28% of Americans and 34% of Germans worry that deepfakes could directly manipulate political elections, spreading fabricated content designed to influence voter behavior.
    • In Mexico, a stunning 48% of people believe their media is vulnerable to deepfake corruption, the highest among surveyed nations.
    • The threat isn’t limited to elections—35% of U.S. respondents fear that AI-generated content could disrupt courtrooms with fake evidence, a concern shared by 27% of Germans.
    • Interestingly, for Singapore, which recently passed a law banning digitally manipulated content of candidates during elections, the largest concern about deepfakes lies in Healthcare. 35% of respondents worry that deepfakes could impersonate medical professionals or spread false medical advice, potentially leading to harmful health outcomes.
    • In the United Arab Emirates, the biggest concern (34% of respondents) is the use of deepfakes to create fake social media posts, messages, or videos, which could damage personal reputations and relationships.

    “We’ve reached a tipping point where voters and institutions alike can no longer trust what they see or hear. Deepfakes are becoming so sophisticated that we must equip ourselves with the tools and skills needed to detect and combat this new wave of disinformation. It’s crucial to remember that when overwhelmed by information, we often switch to autopilot, making us more vulnerable to manipulation. That’s why building digital literacy is essential—always question what you see, double-check before sharing, and protect your personal data. Strengthen your online security and stay informed on the latest AI developments—this is how we safeguard ourselves,” says Henry Patishman, Executive VP of Identity Verification Solutions at Regula.

    Find more insights on deepfake fraud and businesses in the survey report. Read the full version on our website.

    *The research was initiated by Regula and conducted by Sapio Research in August 2024 using an online survey of 575 business decision-makers across the Financial Services (including Traditional Banking and FinTech), Crypto, Technology, Telecommunications, Aviation, Healthcare, and Law Enforcement sectors. The respondent geography included Germany, Mexico, the UAE, the US, and Singapore.

    About Regula

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

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

    Contact:

    Kristina – ks@regulaforensics.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7fcf6b3b-4ff4-404b-b2be-b36d7925a403

    The MIL Network –