NewzIntel.com

Category: Politics

  • MIL-OSI: Byrna Expands Retail Footprint with Nashville Store Opening

    Source: GlobeNewswire (MIL-OSI)

    ANDOVER, Mass., Feb. 06, 2025 (GLOBE NEWSWIRE) — Byrna Technologies Inc. (“Byrna” or the “Company”) (Nasdaq: BYRN), a personal defense technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today announced the opening of its second company-owned retail store, located in Franklin, Tennessee, part of the Greater Nashville Area. This new location advances Byrna’s vision of normalizing less-lethal solutions as a mainstream personal safety choice, establishing a broader physical presence, and amplifying brand recognition in key markets.

    The Nashville store builds on the success of Byrna’s Las Vegas location, which validated the potential of company-owned retail with an annual run rate exceeding $1 million and gross profit margins over 60%. The Nashville store features an in-store shooting range where customers can experience Byrna’s less-lethal launchers firsthand. In the Las Vegas store, conversion rates are approximately 80%, compared to approximately 1% online. Byrna expects the hands-on and interactive experience of its new stores to deliver similarly high conversion rates, foster deeper customer trust, and reinforce the company’s reputation as a leader in the less-lethal market.

    “The Nashville store represents an important step in Byrna’s strategic retail expansion,” said Byrna CEO Bryan Ganz. “Our retail store rollout is designed to strengthen customer connections, provide unique hands-on experiences, and expand overall brand awareness. Positioned in a vibrant retail hub, the Nashville store is well-suited to drive strong demand and further the adoption of Byrna’s less-lethal solutions. While we recognize new stores take time to reach their optimal performance, we are confident in the potential of our brick-and-mortar strategy and look forward to tracking the impact of our future locations.”

    Byrna’s retail strategy reflects a deliberate, phased approach to scaling its store model. The Nashville store is one of four new locations planned in the first part of 2025, with additional stores in Fort Wayne, Indiana, Scottsdale, Arizona, and Salem, New Hampshire set to open in coming weeks. These initial locations will provide valuable insights to refine store operations, finalize employee training programs, and optimize marketing strategies ahead of a potential broader rollout.

    Luan Pham, Byrna Chief Revenue Marketing Officer, added: “Our retail expansion is a transformational step in making less-lethal solutions accessible and mainstream. These new stores enable us to build stronger, more personal connections with our customers through workshops and in-store events, ensuring they are confident in using our products when it matters most.”

    The grand opening of the Nashville store featured local officials, law enforcement representatives, and media. Byrna will continue prioritizing community engagement and education as it expands its physical footprint across the United States.

    Byrna Nashville
    330 Mayfield Dr.
    D-3
    Franklin, TN 37067

    About Byrna Technologies Inc.
    Byrna is a technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions. For more information on the Company, please visit the corporate website here or the Company’s investor relations site here. The Company is the manufacturer of the Byrna® SD personal security device, a state-of-the-art handheld CO2 powered launcher designed to provide a less-lethal alternative to a firearm for the consumer, private security, and law enforcement markets. To purchase Byrna products, visit the Company’s e-commerce store.

    Forward-Looking Statements
    This news release contains “forward-looking statements” within the meaning of the securities laws. All statements contained in this news release, other than statements of current and historical fact, are forward-looking. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “expects,” “intends,” “anticipates,” and “believes” and statements that certain actions, events or results “may,” “could,” “would,” “should,” “might,” “occur,” “be achieved,” or “will be taken.” Forward-looking statements include descriptions of currently occurring matters which may continue in the future. Forward-looking statements in this news release include, but are not limited to, our statements related to preliminary revenue results for the fourth fiscal quarter and fiscal year 2024, the timing of the release of full financial results for the quarter, trends regarding brand recognition and future sales potential, sales during the holiday season and during 2025, and the Company’s plans to open Company-owned retail stores. Forward-looking statements are not, and cannot be, a guarantee of future results or events. Forward-looking statements are based on, among other things, opinions, assumptions, estimates, and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies, and other factors that may cause actual results and events to be materially different from those expressed or implied.

    Any number of risk factors could affect our actual results and cause them to differ materially from those expressed or implied by the forward-looking statements in this news release, including, but not limited to, disappointing market responses to current or future products or services; prolonged, new, or exacerbated disruption of the Company’s supply chain; the further or prolonged disruption of new product development; production or distribution or delays in entry or penetration of sales channels due to inventory constraints, competitive factors, increased shipping costs or freight interruptions; prototype, parts and material shortages, particularly of parts sourced from limited or sole source providers; determinations by third party controlled distribution channels not to carry or reduce inventory of the Company’s products; determinations by advertisers to prohibit marketing of some or all Byrna products; the loss of marketing partners; potential cancellations of existing or future orders including as a result of any fulfillment delays, introduction of competing products, negative publicity, or other factors; product design defects or recalls; litigation, enforcement proceedings or other regulatory or legal developments; changes in consumer or political sentiment affecting product demand; regulatory factors including the impact of commerce and trade laws and regulations; import-export related matters or sanctions or embargos that could affect the Company’s supply chain or markets; delays in planned operations related to licensing, registration or permit requirements; and future restrictions on the Company’s cash resources, increased costs and other events that could potentially reduce demand for the Company’s products or result in order cancellations. The order in which these factors appear should not be construed to indicate their relative importance or priority. We caution that these factors may not be exhaustive; accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. Investors should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, (“Risk Factors”) in the Company’s most recent Form 10-K, should understand it is impossible to predict or identify all such factors or risks, should not consider the foregoing list, or the risks identified in the Company’s SEC filings, to be a complete discussion of all potential risks or uncertainties, and should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise any forward-looking information, except as required by applicable law.

    Investor Contact:
    Tom Colton and Alec Wilson
    Gateway Group, Inc.
    949-574-3860
    BYRN@gateway-grp.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5feb5941-b01f-4175-941b-5c3ad99702ee

    The MIL Network –

  • MIL-OSI: LVT Bolsters Executive Leadership Amid Rapid Company Growth And Surging Demand for Advanced Security Tech

    Source: GlobeNewswire (MIL-OSI)

    AMERICAN FORK, Utah, Feb. 06, 2025 (GLOBE NEWSWIRE) — LVT (LiveView Technologies, Inc.), the leader of customizable mobile security solutions, today announced four executive hires to support the company’s rapid growth and customer expansion as it enters its 20th year in business:

    • Chief Human Resources Officer Will Clive will manage LVT’s people team and drive the development of innovative initiatives aimed at enhancing the employee experience and productivity. Will was previously the Chief People Officer at Pluralsight, where he helped transform its HR function into a competitive differentiator.
    • Chief Information Security Officer Ryan Gurney will lead the information security team to continually strengthen the company’s data security practices and maintain compliance with evolving industry regulations. Ryan was previously Chief Security Officer with Looker, which joined Google Cloud in 2020, where he built the company’s information security and compliance program.
    • Chief Revenue Officer Spencer Steed will oversee LVT’s go-to-market strategy and operations to help accelerate the company’s growth as it unveils new features and industry-first capabilities. Spencer was previously Senior Vice President of Sales, Public Sector, at Qualtrics, where he led company growth across federal, state, local, and education customers.
    • Chief Customer Officer Taylor Wetzel will develop a comprehensive customer-centric strategy and define key performance indicators to optimize customer outcomes, loyalty, and growth. Taylor was previously Senior Vice President of Customer Success at Qualtrics, where he guided efforts to improve the experience, retention, and ROI for more than 20,000 global customers.    

    “LVT has sustained remarkable growth for more than a decade, and we will soon scale even further by introducing unprecedented security capabilities to improve safety and efficiency for companies across the nation,” said Ryan Porter, LVT co-founder and CEO. “We are excited to have Will, Ryan, Spencer, and Taylor on board to support our mission, and we welcome their breadth of experience and insights to keep moving LVT forward.”

    These four new executives will be pivotal in supporting LVT’s expanding employee base and providing diverse perspectives to preserve its position as a leading innovator in mobile security technology. Growth milestones include the following:

    • In 2024, LVT was recognized for its 226% revenue growth on the Deloitte Technology Fast 500™ and 227% revenue growth on the Inc. 5000.
    • Utah Valley BusinessQ honored LVT as a UV50 fastest-growing company and economic engine.
    • LVT experienced a 25% increase in year-over-year headcount between January 2024 and January 2025.

    LVT provides customizable mobile security units (MSUs) that have driven measurable safety improvements and security operation efficiencies across retail, government, construction, education, and other industries. In January, LVT revealed SafeNow, a first-of-its-kind feature that empowers LVT customer employees to access MSU features directly from their phones.

    Learn more about LVT and how its MSUs can help you discover, deter, and defend against threats at https://www.lvt.com/.

    About LVT
    LVT (LiveView Technologies, Inc.) is a leader in life safety and security and the premier developer and manufacturer of mobile, solar-powered and cellular/satellite-connected surveillance solutions and software. Headquartered in American Fork, Utah, LVT’s enterprise software-as-a-service (SaaS) solution is used by retailers, critical infrastructure and utilities, construction projects, warehouse and distribution centers, police, municipalities, and more. LVT is proud to be made in the USA and manufactured in Utah. For more information, visit www.lvt.com.

    Media Contacts:
    Matthew Deighton
    LiveView Technologies
    media@lvt.com

    The MIL Network –

  • MIL-OSI China: Ice, snow fervor invigorates host city of Asian Winter Games

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

    HARBIN, Feb. 6 — Inside a sprawling souvenir shop in the northeastern Chinese city of Harbin, the tiger mascots of the upcoming Asian Winter Games — “Binbin” and “Nini” — are demonstrating the changing images of the heavily industrial city.

    One toy series puts the tigers on board China’s first helicopter and satellite, a reference to Harbin’s glorious status as an industrialization forerunner in the 20th century, while others feature the two as skaters, skiers and ice sculptures to showcase the city’s more recent boom in winter sports and tourism.

    Dubbed China’s Winterfell by netizens, Harbin, the capital city of Heilongjiang Province, has long been seen as an industrial city with frigid, harsh winters. Today, the city buzzes with winter tourists, many of whom have traveled all the way from the tropical south.

    Lin Wenxin, a tourist from the southeastern province of Fujian, was awestruck by the glittering structures made of ice blocks in Harbin Ice-Snow World. The otherworldly landscape, filled with towering ice sculptures, has led netizens to compare Harbin to the fictional city of Winterfell from the fantasy novel series A Song of Ice and Fire.

    “It’s the first time I’ve seen such a massive amount of ice and snow, and it’s stunning,” Lin exclaimed in the theme park. Despite her cold hands, she took off her gloves to share photos with her friends on her mobile phone.

    As the city’s iconic tourist magnet, Harbin Ice-Snow World draws hundreds of thousands of visitors every day. During the eight-day Spring Festival holiday that ended Tuesday, over 610,000 trips were made to the park. Trips on Saturday alone exceeded 100,000, setting a new record for single-day attendance.

    The success of the Harbin Ice-Snow World is believed to have been due to the city’s profound heritage of ice lantern artistry.

    Harbin is located at 45 degrees north latitude, where winter temperatures can drop below minus 30 degrees Celsius. More than 60 years ago, to brighten the frigid winter nights, people filled buckets with water and allowed them to freeze into ice blocks. They then removed the unfrozen water to create a hollow space and placed lamps inside. This is how the first ice lanterns were made.

    Since the latter half of the 20th century, the city has become more significant in its heavy industries, contributing to China’s development of helicopters, satellites, and carrier rockets. In recent years, the city, like others in northeast China, has been striving to upgrade its industries and find new growth engines in the service sector.

    Against this backdrop, tapping into its ice culture to attract tourists becomes Harbin’s one answer to its economic transition. The city shot to nationwide prominence around the start of 2024 for going the extra mile to welcome tourists from South China. Its hosting of the upcoming 9th Asian Winter Games has further cemented its allure as a winter destination.

    In Harbin’s touristy Central Street, the two tiger mascots and winter sports-themed lights are omnipresent, impressing Thai tourist Shiv Dechasakphan, who was shopping in a retail store featuring official merchandise for Harbin 2025.

    “The vibe is amazing — we can see Games-themed decorations all over the city. I know Harbin is a fantastic place for ice and snow activities,” said Shiv Dechasakphan, who previously traveled to ski at the Yabuli ski resort, located 200 kilometers from downtown Harbin. The resort, which will also host the snow events of the Asian Winter Games, welcomed over 1.17 million visitors in 2024.

    As the event approached, domestic and international tourists visited the official merchandise store in droves, raising its sales, according to Su Zhe, manager of the store.

    The surge in popularity of winter sports in recent years has created business opportunities for not just the tourism industry. Since the start of this snow season, Zhuang Yu, deputy manager of a Harbin-based cableway engineering company, has traveled extensively with co-workers to various cities to install, maintain, and repair cable systems.

    As ski resorts proliferate across the country, the company’s ski conveyor belts and cableways are experiencing strong sales, with revenue in 2024 projected to increase by about 20 percent compared to the previous year, Zhuang noted. He emphasized that the ongoing enthusiasm for winter sports drives the growth of both upstream and downstream industries and encourages businesses to innovate.

    Across the country, China is seeking to leverage its vast ice and snow resources to drive economic growth, with the government integrating winter sports and tourism into its national development plans.

    The sector has already reached a trillion yuan (one yuan equals about 0.14 U.S. dollars) scale, and the country aims to grow it to 1.2 trillion yuan by 2027 and 1.5 trillion yuan by 2030, according to an official guideline released in 2024.

    MIL OSI China News –

  • MIL-OSI United Kingdom: Reports of Russia’s treatment of Ukrainian prisoners of war are deeply concerning: UK statement to the OSCE

    Source: United Kingdom – Executive Government & Departments

    Deputy Ambassador Brown condemns the Russian state’s reported systematic torture, abuse, and execution of Ukrainian prisoners of war.

    Thank you, Madam Chair and good afternoon colleagues.  On behalf of the UK Delegation I would like to offer a warm welcome to the new Ukraine ambassador.  Please be assured of our continued support to you, Viktoria and to your exceptional team.

    Since the full-scale invasion of Ukraine, overwhelming evidence from international bodies, human rights organisations, and independent investigations demonstrates that Russia continues to disregard international law. The UK unequivocally condemns the Russian state’s reported systematic torture, abuse, and execution of Ukrainian prisoners of war.

    The UN Commission of Inquiry has concluded that Russia’s use of torture against POWs and civilian detainees amounts to crimes against humanity. Their reports outline how Russian forces have subjected Ukrainian POWs to brutal beatings, burns and electric shocks amplified by water. Additionally, they detail how Ukrainian POWs are forced to endure sexual violence, including rape, attacks on genitals, and threats of mutilation, castration, and sterilisation. In ODIHR’s latest report on Ukraine, all the Ukrainian former POWs interviewed reported severe and routine torture during their internment, supporting ODIHR’s analysis that the torture of both POWs and civilians by the Russian state is widespread and systematic.

    Furthermore, ODIHR documented that Ukrainian POWs are held in overcrowded, unsanitary conditions, and deprived of adequate food, water, and medical care. Such neglect, aimed at breaking the spirit of those already disarmed and vulnerable, is a direct affront to human dignity.

    Additionally, the Ukrainian Prosecutor-General’s Office reports that 147 Ukrainian POWs have been executed by Russian forces since the start of the full-scale invasion.

    And this week the UN Human Rights Monitoring Mission in Ukraine raised serious concerns over a sharp increase in executions of captured Ukrainian soldiers by Russian forces. Since August 2024, the Mission documented 79 executions across 24 incidents, with many cases involving soldiers who had surrendered or were otherwise in Russian custody, including instances where unarmed and injured personnel were shot dead on the spot.

    Madam Chair, these are not isolated incidents. The testimonies gathered by the UN Commission of Inquiry highlight deliberate and systematic practices; and find a coordinated state policy of cruelty and impunity that underscores the Russian state’s complete disregard for international norms. The Geneva Conventions are clear: POWs must be treated humanely. Reporting from the UN and ODIHR outlines how Russia has not only failed in this obligation—it has systematically violated it.

    The UK demands an immediate end to all atrocities and calls for independent investigations to hold all perpetrators accountable; from those carrying out abuses to those ordering them. Alongside our international partners, we will ensure that those responsible—at all levels of the Russian state—face justice.

    The protection of prisoners of war is not optional; it is an absolute and binding requirement of international law.  The UK demands that the Russian state ensures the humane treatment of all those in detention and grants the ICRC unimpeded access to places of detention, in line with the Geneva Conventions.

    The UK welcomes the latest prisoner exchange between Ukraine and Russia facilitated by the United Arab Emirates. We continue to call on Russia to comply with International Humanitarian Law and not exploit prisoners of war and civilian detainees for political purposes. All those arbitrarily detained must be released, including our colleagues: the three Special Monitoring Mission members. We continue to call for their release.

    The UK stands in full solidarity with Ukraine and reaffirms our commitment to ensuring justice for victims and survivors. The evidence is overwhelming. The time for accountability is now. Thank you, Madam Chair.

    Updates to this page

    Published 6 February 2025

    Invasion of Ukraine

    MIL OSI United Kingdom –

  • MIL-OSI Security: Update 273 – IAEA Director General Statement on Situation in Ukraine

    Source: International Atomic Energy Agency – IAEA

    Director General Rafael Mariano Grossi met with President Volodymyr Zelensky and assessed damage to energy infrastructure vital for nuclear safety during his 11th visit to Ukraine since the military conflict began almost three years ago, as part of the ongoing efforts of the International Atomic Energy Agency (IAEA) to help prevent a nuclear accident.

    Before his meetings with President Zelensky and senior government officials in Kyiv on Tuesday, the Director General travelled to one of the substations on which Ukraine’s nuclear power plants (NPPs) depend to receive the off-site power needed to cool their reactors and for other essential nuclear safety and security functions and also to transmit the electricity they generate.

    In recent months, Ukraine’s operating NPPs – Khmelnytskyy, Rivne and South Ukraine – have several times been forced to reduce power output because of widespread military activities affecting the electricity grid, in which the substations form a key part. Most recently, Ukraine informed the IAEA that the NPPs temporarily lowered their production on 1 February before returning to nominal power again.

    “The reason that this is so important, from the perspective of the IAEA, is because of the influence of this situation on the safety of the nuclear power plants’ operation,” Director General Grossi told journalists at the substation, which is among several such facilities that were further damaged and degraded in recent months.

    “This compromises the nuclear safety of a power plant, and it could eventually lead to an accident,” he said, noting the importance of a stable electricity grid for the nuclear safety and security of NPPs. “Having an external power supply is essential”.

    IAEA expert teams have travelled to nine different electrical substations across the country seen as critical for nuclear safety and security, including the one visited by Director General Grossi on 4 February. Five of these substations have been visited twice during IAEA missions in September, October and December 2024, with the teams observing a continued degradation at several facilities.

    During their visits to the substations, the IAEA teams collect information, assess the situation and provide technical advice.

    “The situation is quite dire. We should not, I think, hide the fact. And as you can see behind us, this infrastructure has been degraded,” Director General Grossi said, standing next to a visibly damaged autotransformer.

    Director General Grossi also noted the work conducted at this and other Ukrainian substations to help “preserve the stability of the grid”, for example by replacing damaged transformers.

    In his meetings with President Zelensky, Minister of Foreign Affairs Andrii Sybiha and Minister of Energy German Galushchenko, Director General Grossi also discussed progress in Ukraine’s plans to purchase equipment from the interrupted Bulgarian NPP project in Belene for new reactor units being constructed at the Khmelnytskyy NPP. The IAEA is providing technical support and nuclear safety advice for this plan, Director General Grossi said.

    At Ukraine’s NPPs over the past week, the IAEA teams based there have continued to report on indications of military activities near the sites, constant reminders of the potential risks to nuclear safety and security.

    At Ukraine’s Zaporizhzhya NPP, the team heard multiple instances of explosions on most days, some very close to the plant. There were no reports of damage to the site.

    Following the disconnection of the ZNPP’s only available 750 kilovolt (kV) power line on 29 January, it was reconnected on 1 February. As a result, the site once again has two external power lines available – including one 330 kV – compared with a total of ten before the conflict.

    The IAEA teams at the Khmelnytskyy, Rivne and South Ukraine NPPs and the Chornobyl site continued to report daily air raid alarms. The teams at Khmelnytskyy, South Ukraine and Chornobyl were also informed of drones being detected in locations near the sites.

    At the South Ukraine NPP, a 750 kV power line that was disconnected on 29 January due to military activities remains unavailable.  

    MIL Security OSI –

  • MIL-OSI NGOs: MSF mobile clinics bring care to neglected region of east Ghouta in Syria

    Source: Médecins Sans Frontières –

    “Going to east Ghouta and seeing it with my own eyes was heartbreaking,” says Patrick Wieland, Médecins Sans Frontières’ (MSF’s) head of mission in Syria. “The scale of destruction is huge, people are trapped in extreme poverty, barely holding on, and in urgent need of medical care.”

    After years of neglect, east Ghouta, a region located only 10 kilometres from Damascus, shows little signs of normalcy, the streets lined with the ruins of buildings are empty of the signs of life. The people here are struggling under the strain of overwhelming economic hardship. Years of health facility closures have left huge needs for medical care, and the available services are incredibly limited. East Ghouta’s suffering is far from over and urgent support is needed now.

    Following the fall of Bashar al Assad’s 24-year rule, MSF has gained access to Damascus for the first time in over a decade. We began operating mobile clinics on 21 January, offering basic healthcare, like consultations for gastrointestinal infections. In this short time, we have seen 576 patients, including 77 children under the age of five.

    Families living in the shells of buildings

    East Ghouta was once a lush and green 110 square kilometres, filled with fruit trees and farms. After years of relentless airstrikes by the former Syrian government forces it now stands in ruins. What’s left behind of this major food producing region is destroyed land dotted with grey buildings that have been stripped of rooftops, windows, and life. Still, families are here and struggling to make do.

    “Entire families are living in the rubble of destroyed buildings that look as if they have come from the Middle Ages,” says Bilal Alsarakibi, MSF’s medical referent in Syria. “The level of negligence is unimaginable; the medical needs are huge and for people to find healthcare is a desperate race against time.”

    People are living in difficult conditions. They lack clean water, proper food, sanitation infrastructure, and heating for their homes, exposing them to many health hazards.

    A new chapter of hope

    Since January 2025, MSF has sent several teams to cities in east Ghouta, including Douma, Harasta, Zamlka, Hamoria, Ain Tarma, and Kafr Batna. Our teams are providing basic healthcare, like medical consultations and mental health support, through mobile clinics.

    We attempted to reach east Ghouta many times during the rule of Bashar al Assad. Our teams were repeatedly denied entry, which ensured that people had less access to healthcare than they desperately needed.

    “When people get sick or injured, getting healthcare is really hard, there are no ambulances and medicine is too expensive,” says Mohammed Riad, who attended a mobile clinic. “Mobile clinics are a great idea. If they were covering all the areas, it can save people a lot of trouble.” 

    Our teams are helping people suffering from different conditions, with the most common being respiratory infections, asthma, and gastroenteritis due to food contamination. We are also seeing people for non-communicable diseases such as diabetes, hypertension, and other cardiovascular diseases.

    Our teams are also assessing the overall medical and humanitarian situation in these cities. The work is currently underway to understand the depth of people’s needs after our years of absence. 

    Besieged and bombarded

    When the opposition forces gained control of the east Ghouta in 2012, the Syrian armed forces then imposed a severe siege on the area. Relentless ground and aerial bombardments targeted homes, markets and hospitals, while food, water and medicines were deliberately denied as a method of warfare. 

    A UN report shows the devastating toll on people. Between 18 February and 11 March 2018, attacks by the former government forces killed 1,100 people and injured 4,000. During the same period, shelling on Damascus city by different armed groups killed and injured hundreds more people. 

    Saving lives was everyone’s struggle

    “Due to the siege in 2013, a lot of people were injured and lost their limbs in daily airstrikes,” says Othman Al-Rifai, a resident of east Ghouta. “The doctors travelled abroad because salaries were low and until today you can see the impact.”

    Between 2013 to 2018, MSF provided remote support to Syrian medics in east Ghouta. Our teams sent medical supplies, offered financial support and provided technical guidance. Since MSF could not work in east Ghouta directly, this was the only way to help the medical teams there. 

    We supported 20 clinics and hospitals in 2013. Over the years of escalating violence, the number went down to just one clinic by 2018. The other 19 facilities were either closed or abandoned after former government forces took over the area. At a certain point, there was nothing left that we could support.

    “Today, the mobile clinics give a small sense of relief to the people who endured a lot in east Ghouta over the past years,” adds Bilal Alsarakibi. “Despite what they have seen, people are still able to smile. They have been through a lot of suffering, and they urgently need support to regain their lives.”

    MIL OSI NGO –

  • MIL-OSI: Calian Signs over $50M in Defence Contracts in Q1

    Source: GlobeNewswire (MIL-OSI)

    OTTAWA, Ontario, Feb. 06, 2025 (GLOBE NEWSWIRE) — Calian Group Ltd. (TSX: CGY), announced today that it signed over $50 million in new and renewed multi-year defence contracts in the first quarter of fiscal year 2025 highlighting the continued need for mission-critical defence solutions and the value Calian provides to Canada’s defence, NATO and our allies.  

    Of the almost 30 contracts, half will provide operational readiness training, including one for NATO’s Joint Warfare Centre (JWC). Under the terms of the agreement, Calian will serve as the prime contractor, providing the majority of JWC’s critical defence training in the form of military and civilian subject matter experts to support JWC in delivering on its mission to train NATO forces at the strategic and operational levels. This support will include helping ensure forces can work together efficiently in a crisis and increasing the effectiveness and readiness of NATO’s multinational forces.

    “The surge in global defence budgets underscores the demands of modern warfare and continued geopolitical instability,” said Kevin Ford, CEO of Calian. “As we look ahead, Calian recognizes our militaries need trusted, dependable partners to deliver mission-critical solutions. With capabilities that support personnel readiness, equipment reliability and secure, scalable operations, our goal is to ensure military forces are operation-ready so they can perform optimally in the most demanding, high-stakes environments.”

    With over 40 years of experience, Calian delivers defence readiness solutions supporting national and international security. Leveraging our innovative technologies and expertise, Calian drives operational excellence through military training, healthcare, cybersecurity, communications and systems integration—helping military forces stay prepared and resilient in today’s rapidly evolving security and technology landscape.

    Learn more about how Calian delivers confidence for military customers, no matter their needs: https://www.calian.com/defence/. 

    About Calian

    www.calian.com

    We keep the world moving forward. Calian® helps people communicate, innovate, learn and lead safe and healthy lives. Every day, our employees live our values of customer commitment, integrity, innovation, respect and teamwork to engineer reliable solutions that solve complex challenges. That’s Confidence. Engineered. A stable and growing 40-year company, we are headquartered in Ottawa with offices and projects spanning North American, European and international markets. Visit calian.com to learn about innovative healthcare, communications, learning and cybersecurity solutions.

    Product or service names mentioned herein may be the trademarks of their respective owners.

    Media inquiries:

    media@calian.com

    613-599-8600

    Investor Relations inquiries:

    ir@calian.com

    DISCLAIMER

    Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as “intend”, “anticipate”, “believe”, “estimate”, “expect” or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry. For additional information with respect to certain of these and other factors, please see the Company’s most recent annual report and other reports filed by Calian with the Ontario Securities Commission. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.

    Calian · Head Office · 770 Palladium Drive · Ottawa · Ontario · Canada · K2V 1C8
    Tel: 613.599.8600 · Fax: 613-592-3664 · General info email: info@calian.com

    The MIL Network –

  • MIL-OSI: First National Corporation Reports Fourth Quarter and Annual 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    STRASBURG, Va., Feb. 06, 2025 (GLOBE NEWSWIRE) — First National Corporation (the “Company” or “First National”) (NASDAQ: FXNC), the bank holding company of First Bank (the “Bank”), reported an unaudited consolidated net loss of $933 thousand and basic and diluted loss per common share of $0.10 for the fourth quarter of 2024, and adjusted operating earnings(1) of $6.0 million and adjusted operating basic and diluted earnings(1) per common share of $0.66 for the fourth quarter of 2024.

    For the year ended December 31, 2024, the Company reported unaudited consolidated earnings of $7.0 million and basic and diluted earnings per common share of $1.00 and adjusted operating earnings(1) of $14.6 million and adjusted basic and diluted earnings per common share(1) of $2.10 for the year ended December 31, 2024.

    “2024 was a transformational year for First National as we consummated our largest acquisition to date and resulting partnership with Touchstone Bankshares. Our results for the quarter reflected solid operating metrics adjusting for merger costs, and is the first quarter to include the combined financial results of First National and Touchstone,” said Scott Harvard, President and Chief Executive Officer of First National. “I am proud of all the work from our teammates to get us to this point. We are completing system conversions in several weeks which will allow us to operate as one bank across our footprint. We believe the fourth quarter financial operating performance is indicative of the benefits of the acquisition and look forward to fully completing the integration of our two companies.”

    FOURTH QUARTER HIGHLIGHTS

    • Completed acquisition of Touchstone Bankshares, Inc. on October 1
    • Total assets of $2.0 billion with 33 branch offices
    • Net interest margin increased 40 basis points to 3.83%
    • Noninterest bearing deposits comprised 29% of total deposits
    • Efficiency ratio of 63.97%(1)

    Merger with Touchstone Bankshares, Inc. (“Touchstone”)

    On October 1, 2024, the Company completed its acquisition of Touchstone. Touchstone’s results of operations are included in the Company’s consolidated results since the date of acquisition, and, therefore, the Company’s fourth quarter and full year 2024 results reflect increased levels of average balances, net interest income, and expense compared to its prior quarter and full year 2023 results. After purchase accounting fair value adjustments, the acquisition added $664.3 million of total assets, including $479.3 million of loans held for investment (“LHFI”), and $614.6 million of total liabilities, including $555.4 million in total deposits. The Company recorded a preliminary bargain purchase gain of $2.9 million during the quarter associated with the acquisition.

    In connection with the acquisition, the Company recorded an allowance for credit losses on acquired loans that experienced a more than insignificant amount of credit deterioration since origination (“PCD” loans) of $385 thousand. In addition, the Company recorded a provision for credit losses of $3.8 million on non-PCD loans and $100 thousand provision on unfunded commitments for the fourth quarter of 2024.

    The Company incurred pre-tax merger costs of approximately $7.3 million during the fourth quarter of 2024 related to the Touchstone acquisition.

    NET INTEREST INCOME

    For the fourth quarter of 2024, net interest income was $18.4 million, an increase of $6.6 million from $11.7 million in the third quarter of 2024. The increases in net interest income was primarily the result of a $545.3 million increase in average interest earning assets, partially offset by a $415.0 million increase in average interest bearing liabilities, in each case primarily related to the acquisition of Touchstone. For the fourth quarter of 2024, the Company’s net interest margin increased 40 basis points to 3.83% primarily due to the impacts associated with the Touchstone acquisition. Earning asset yields for the fourth quarter of 2024 increased 22 basis points to 5.30% compared to the third quarter of 2024, and the cost of funds decreased by 21 basis points to 1.51%, due to changes in deposit mix following the acquisition of Touchstone and federal funds rate cuts in late 2024.

    The Company’s net interest margin (FTE)(1) for the fourth quarter of 2024 includes the impact of acquisition accounting fair value adjustments. Net accretion income related to acquisition accounting was $408 thousand, or a nine basis point incremental increase to the net interest margin for the fourth quarter ended December 31, 2024, and none for the comparative prior quarter and same quarter in 2023, respectively, due to the Touchstone acquisition. 

    NONINTEREST INCOME

    Noninterest income increased $3.4 million to $6.4 million for the fourth quarter of 2024 from $3.2 million in the prior quarter, primarily driven by $2.9 million of pre-tax bargain purchase gain and other increases in noninterest income associated with the full quarter impact of the Touchstone acquisition that closed on October 1, 2024.

    NONINTEREST EXPENSE

    Noninterest expense increased $11.5 million to $21.9 million for the fourth quarter of 2024 from $10.5 million in the prior quarter, primarily driven by a $7.3 million increase in pre-tax merger-related expenses, as well as other increases in noninterest expense due to the full quarter impact of the Touchstone acquisition. The full quarter impact of Touchstone and related merger expenses drove the majority of the $4.5 million increase in salaries and benefits, the $3.9 million increase in data processing, and the $351 thousand increase in occupancy expenses compared to the prior quarter. In addition, legal and professional services increased $618 thousand, primarily due to fees associated with the merger.

    Adjusted operating noninterest expense, which excludes merger-related costs ($219 thousand in the third quarter and $7.3 million in the fourth quarter) and amortization of intangible assets ($4 thousand in the third quarter and $448 thousand in the fourth quarter), increased $3.9 million to $14.2 million for the fourth quarter of 2024 from $10.2 million in the prior quarter, primarily due to the impact of the Touchstone acquisition.

    ASSET QUALITY

    Overview

    Loans past due greater than 30 days and still accruing interest as a percentage of total loans amounted to 0.24% on December 31, 2024, compared to 0.24% on September 30, 2024, and 0.31% on December 31, 2023. Of the total past due loans still accruing interest, $365 thousand were past due 90 days or more on December 31, 2024, compared to $0 on September 30, 2024, and $524 thousand on December 31, 2023. Management classifies non-performing assets (“NPAs”) as non-accrual loans and OREO. Nonperforming assets (“NPAs”) as a percentage of total assets decreased to 0.35% on December 31, 2024, compared to 0.41% on September 30, 2024, and 0.48% one year ago on December 31, 2023. The decrease in the NPA ratio was primarily due to the effects of the Touchstone acquisition, which added LHFI of $479.3 million acquired in the transaction. Net charge-offs totaled $1.3 million in the fourth quarter of 2024, compared to net charge-offs of $1.6 million in the third quarter of 2024, and net charge-offs of $2.7 million in the fourth quarter of 2023. The net charge-offs for the fourth quarter of 2024 included $883 thousand of commercial and industrial loans, with $774 thousand of that specific to our pool of loans originated to health care professionals through a third-party lender. The allowance for credit losses on loans totaled $16.4 million, or 1.12% of total loans on December 31, 2024, compared to $12.7 million, or 1.28% of total loans on September 30, 2024, and $12.0 million, or 1.24% of total loans on December 31, 2023.

    Nonperforming Assets

    NPAs increased to $7.1 million on December 31, 2024, compared to $6.0 million on September 30, 2024, and $6.8 million on December 31, 2023, which represented 0.35%, 0.41%, and 0.48% of total assets, respectively. The increase in NPAs during the fourth quarter of 2024 resulted from the acquisition of Touchstone’s portfolio, including $1 million of additional non-accrual loans.

    Past Due Loans

    Loans past due 30-89 days and still accruing interest increased to $3.1 million, or 0.21% of total loans on December 31, 2024, compared to $2.4 million, or 0.24% of total loans on September 30, 2024, and $2.5 million, or 0.26%, of total loans on December 31, 2023. Loans past due over 90 days or more and still accruing interest on December 31, 2024, increased to $365 thousand, compared to $0 on September 30, 2024, and $524 thousand on December 31, 2023.

    Allowance for Credit Losses on Loans

    For the fourth quarter of 2024, the Company recorded a provision for credit losses of $4.8 million, compared to a provision for credit losses of $1.7 million in the prior quarter, and a provision for credit losses of $6.0 million in the fourth quarter of 2023. Included in the provision for credit losses for the fourth quarter of 2024 was a $3.8 million initial provision expense on non-PCD loans and $100 thousand on unfunded commitments, each acquired from Touchstone. As compared to the prior quarter, the decrease in provision for credit losses, outside of the initial provision expense recorded on non-PCD loans and unfunded commitments acquired from Touchstone, primarily reflects the impact of lower net charge-offs in the fourth quarter of 2024 and lower outstanding legacy loan balances. As compared to the same period in the prior year, the decrease in provision for credit losses, outside of the initial provision expense recorded on non-PCD loans and unfunded commitments acquired from Touchstone, is primarily due to higher reserves booked during the fourth quarter of 2023 due to qualitative factor adjustments related to the commercial and industrial loan pool, as well as specific reserves from identified individually evaluated loans.

    BALANCE SHEET

    At December 31, 2024, the Company’s consolidated balance sheet includes the impact of the Touchstone acquisition, which closed October 1, 2024, as discussed above. ASC 805, Business Combinations, allows for a measurement period of 12 months beyond the acquisition date to finalize the fair value measurements of the acquired Company’s net assets as additional information not existing as of the acquisition date becomes available. Any future measurement period adjustments will be recorded through an adjustment to the bargain purchase gain upon identification. Below is a summary of the related impact of the acquisition on the Company’s consolidated balance sheet as of the acquisition date.

    • The fair value of assets acquired totaled $664.3 million and included total loans of $479.3 million with an initial loan discount of $13.5 million.
    • The fair value of the liabilities assumed totaled $614.6 million and included total deposits of $555.4 million with an initial deposit mark related to time deposits of $1.1 million.
    • Core deposit intangibles and other intangibles acquired totaled $15.6 million.
    • No goodwill was recorded in the transaction, and the preliminary bargain purchase gain (included in other income) totaled $2.9 million.

    At December 31, 2024, total assets were $2.0 billion, an increase of $559.6 million or 38.6% from September 30, 2024 and $591.0 million or approximately 41.6% from December 31, 2023. The increases in total assets from the prior quarter and prior year were primarily driven by growth in loans held for investment (LHFI) (net of deferred fees and costs) and the securities portfolio, primarily due to the Touchstone acquisition.

    At December 31, 2024, LHFI net of allowance totaled $1.5 billion, an increase of $468.6 million from $982.0 million at September 30, 2024, and an increase of $493.1 million or 51.5% from December 31, 2023. LHFI increased from the prior quarter and prior year primarily due to the Touchstone acquisition, as well as organic loan growth compared to prior year.

    At December 31, 2024, total investments were $277.3 million, an increase of $7.8 million from September 30, 2024, and a decrease of $25.9 million or 8.5% from December 31, 2023. Available for sale (AFS) securities totaled $163.8 million at December 31, 2024 and $146.0 million at September 30, 2024 and $152.9 million at December 31, 2023. The increases compared to the prior quarter and prior year were primarily due to the acquisition of Touchstone. Total net unrealized losses on the AFS securities portfolio were $22.1 million at December 31, 2024, compared to $17.2 million at September 30, 2024, and $20.6 million at December 31, 2023. Held to maturity securities are carried at cost and totaled $109.7 million at December 31, 2024, $121.4 million at September 30, 2024, and $148.2 million at December 31, 2023.

    At December 31, 2024, total deposits were $1.80 billion, an increase of $550.5 million from the prior quarter, and an increase of $570.1 million or 46.2% from December 31, 2023. The increases in deposit balances from the prior quarter and prior year are primarily due to increases in interest bearing customer deposits and demand deposits, primarily related to the addition of the Touchstone acquired deposits.

    Other borrowings decreased $50.0 million during the fourth quarter as the Bank repaid borrowed funds from the Federal Reserve Bank through their Bank Term Funding Program.

    Shareholders’ equity totaled $166.5 million on December 31, 2024, which was an increase of $41.4 million from September 30, 2024. The increase in total shareholders’ equity was primarily attributable to the issuance of 2.67 million shares associated with the Touchstone acquisition. The Company declared and paid cash dividends of $0.155 per common share during the fourth quarter of 2024, up from $0.15 paid during the first three quarterly periods of 2024.

    The following table provides capital ratios at the periods ended:

        Dec 31, 2024     Sept 30, 2024     Dec 31, 2023  
    Total capital ratio (2)     12.35 %     14.29 %     14.13 %
    Tier 1 capital ratio (2)     11.19 %     13.04 %     12.88 %
    Common equity Tier 1 capital ratio (2)     11.19 %     13.04 %     12.88 %
    Leverage ratio (2)     7.95 %     9.23 %     9.17 %
    Common equity to total assets (3)     8.29 %     8.62 %     8.23 %
    Tangible common equity to tangible assets (1) (3)     7.46 %     8.43 %     8.03 %
       
    (1) These are financial measures not calculated in accordance with generally accepted accounting principles (“GAAP”). For a reconciliation of these non-GAAP financial measures, see the “Non-GAAP Reconciliation” sections of the Performance Summary tables included in this release.
       
    (2) All ratios at December 31, 2024 are estimates and subject to change pending the Company’s filing of its FR Y9-C. All other periods are presented as filed.
       
    (3) Capital ratios presented are for First National Corporation.
       

    NON-GAAP FINANCIAL MEASURES

    In addition to financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), the Company uses certain non-GAAP financial measures that provide useful information for financial and operational decision making, evaluating trends, and comparing financial results to other financial institutions. The non-GAAP financial measures presented in this document include adjusted operating net income, adjusted basic and diluted earnings (loss) per share, adjusted return on average assets, adjusted return on average equity, pre-provision pre-tax earnings, adjusted pre-provision pre-tax earnings, fully taxable equivalent interest income, the net interest margin, the efficiency ratio, tangible book value per share, and tangible common equity to tangible assets.

    The Company believes certain non-GAAP financial measures enhance the understanding of its business and performance. Non-GAAP financial measures are supplemental and not a substitute for, or more important than, financial measures prepared in accordance with GAAP and may not be comparable to those reported by other financial institutions. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measure is included at the end of this release.

    ABOUT FIRST NATIONAL CORPORATION

    First National Corporation (NASDAQ: FXNC) is the parent company and bank holding company of First Bank, a community bank that first opened for business in 1907 in Strasburg, Virginia. The Bank offers loan and deposit products and services through its website, www.fbvirginia.com, its mobile banking platform, a network of ATMs located throughout its market area, a loan production office, a customer service center in a retirement community, and thirty-three bank branch office locations located throughout the Shenandoah Valley, the south-central regions of Virginia, the Roanoke Valley, the Richmond MSA, and in northern North Carolina. In addition to providing traditional banking services, the Bank operates a wealth management division under the name First Bank Wealth Management. First Bank also owns First Bank Financial Services, Inc., which owns an interest in an entity that provides title insurance services.

    FORWARD-LOOKING STATEMENTS

    Certain information contained in this discussion may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to the Company’s plans, objectives, expectations and intentions and other statements that are not historical facts, and other statements identified by words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” and “projects,” as well as similar expression. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reliable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results, performance, or achievements will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties. For details on factors that could affect expectations, future events, or results, see the risk factors and other cautionary language included in First National’s Annual Report on Form 10-K for the year ended December 31, 2023, and most recent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission (the “SEC”).

    Additional risks and uncertainties may include, but are not limited to: (1) the risk that the cost savings and any revenue synergies from the Touchstone merger may not be realized or take longer than anticipated to be realized, including due to the state of the economy or other competitive factors in the areas in which the parties operate, (2) disruption from the merger of customer, supplier, employee or other business partner relationships, including diversion of management’s attention from ongoing business operations and opportunities due to the merger, (3) the possibility that the costs, fees, expenses and charges related to the merger may be greater than anticipated, (4) reputational risk and the reaction of each of the parties’ customers, suppliers, employees or other business partners to the merger, (5) the risks relating to the integration of Touchstone’s operations into the operations of First National, including the risk that such integration will be materially delayed or will be more costly or difficult than expected, (6) the risk of expansion into new geographic or product markets, (7) the dilution caused by First National’s issuance of additional shares of its common stock in the merger, and (8) general competitive, economic, political and market conditions. All subsequent written and oral forward-looking statements concerning First National or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. First National does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.

    CONTACTS

    Scott C. Harvard   Bruce E. Thomas
    President and CEO   Senior Vice President and Interim CFO
    (540) 465-9121   (540) 465-9121
    sharvard@fbvirginia.com   bthomas@fbvirginia.com
         

    FIRST NATIONAL CORPORATION
    Performance Summary
    (in thousands, except share and per share data)

    (unaudited)                                        
        For the Three Months Ended     For the Year Ended  
        Dec 31, 2024     Sept 30, 2024     Dec 31, 2023     Dec 31, 2024     Dec 31, 2023  
    Income Statement                                        
    Interest and dividend income                                        
    Interest and fees on loans   $ 21,516     $ 14,479     $ 13,255     $ 63,483     $ 49,293  
    Interest on deposits in banks     2,085       1,538       368       6,490       1,809  
    Interest on federal funds sold     189       —       —       189       —  
    Interest on securities                                        
    Taxable interest on securities     1,284       1,091       1,318       4,733       5,286  
    Tax-exempt interest on securities     308       303       303       1,222       1,220  
    Dividends     104       33       30       202       111  
    Total interest and dividend income   $ 25,486     $ 17,444     $ 15,274     $ 76,319     $ 57,719  
    Interest expense                                        
    Interest on deposits   $ 6,415     $ 4,958     $ 4,232     $ 20,964     $ 13,660  
    Interest on federal funds purchased     1       —       1       1       1  
    Interest on subordinated debt     396       69       70       603       277  
    Interest on junior subordinated debt     68       68       68       270       271  
    Interest on other borrowings     247       600       94       2,029       97  
    Total interest expense   $ 7,127     $ 5,695     $ 4,465     $ 23,867     $ 14,306  
    Net interest income   $ 18,359     $ 11,749     $ 10,809     $ 52,452     $ 43,413  
    Provision for credit losses     4,750       1,700       5,950       7,850       6,150  
    Net interest income after provision for credit losses   $ 13,609     $ 10,049     $ 4,859     $ 44,602     $ 37,263  
    Noninterest income                                        
    Service charges on deposit accounts   $ 1,181     $ 675     $ 718     $ 3,122     $ 2,780  
    ATM and check card fees     792       934       825       3,305       3,449  
    Wealth management fees     903       952       784       3,617       3,120  
    Fees for other customer services     317       276       232       966       770  
    Brokered mortgage fees     90       92       46       252       119  
    Income from bank owned life insurance     264       191       168       755       627  
    Net gains (losses) on securities available for sale     (154 )     39       —       (115 )     —  
    Gain on sale of other investment     —       —       186       —       186  
    Net gains on disposal of premises and equipment     —       —       —       —       47  
    Bargain purchase gain     2,920       —       —       2,920       —  
    Other operating income     131       44       110       1,558       686  
    Total noninterest income   $ 6,444     $ 3,203     $ 3,069     $ 16,380     $ 11,784  
    Noninterest expense                                        
    Salaries and employee benefits   $ 10,439     $ 5,927     $ 4,999     $ 28,076     $ 21,039  
    Occupancy     936       585       568       2,604       2,154  
    Equipment     1,123       726       621       3,131       2,377  
    Marketing     371       262       190       1,101       910  
    Supplies     264       123       153       618       576  
    Legal and professional fees     1,214       596       443       3,386       1,647  
    ATM and check card expense     385       394       313       1,508       1,578  
    FDIC assessment     285       195       154       860       633  
    Bank franchise tax     262       262       262       1,047       1,040  
    Data processing expense     4,142       290       327       4,841       1,047  
    Amortization expense     448       4       4       461       18  
    Other real estate owned expense (income), net     5       10       2       15       (199 )
    Net losses on disposal of premises and equipment     (4 )     2       —       47       —  
    Other operating expense     2,059       1,083       1,064       5,239       4,422  
    Total noninterest expense   $ 21,929     $ 10,459     $ 9,100     $ 52,934     $ 37,242  
    Income (loss) before income taxes   $ (1,876 )   $ 2,793     $ (1,172 )   $ 8,048     $ 11,805  
    Income tax expense (benefit)     (943 )     545       (321 )     1,082       2,181  
    Net income (loss)   $ (933 )   $ 2,248     $ (851 )   $ 6,966     $ 9,624  
                                             

    FIRST NATIONAL CORPORATION
    Performance Summary
    (in thousands, except share and per share data)

    (unaudited)                                        
        As of or For the Three Months Ended     As of or For the Year Ended  
        Dec 31, 2024     Sept 30, 2024     Dec 31, 2023     Dec 31, 2024     Dec 31, 2023  
    Common Share and Per Common Share Data                                        
    Earnings (loss) per common share, basic   $ (0.10 )   $ 0.36     $ (0.14 )   $ 1.00     $ 1.54  
    Adjusted earnings (loss) per common share, basic(1)   $ 0.66       0.39       (0.14 )   $ 2.10     $ 1.54  
    Weighted average shares, basic     8,971,649       6,287,997       6,261,500       6,955,592       6,265,394  
    Earnings (loss) per common share, diluted   $ (0.10 )   $ 0.36     $ (0.14 )   $ 1.00     $ 1.53  
    Adjusted earnings (loss) per common share, diluted(1)   $ 0.66       0.39       (0.14 )   $ 2.10     $ 1.53  
    Weighted average shares, diluted     8,994,315       6,303,282       6,282,815       6,971,089       6,279,106  
    Shares outstanding at period end     8,974,102       6,296,705       6,263,102       8,974,102       6,263,102  
    Tangible book value per share at period end (1)   $ 16.55     $ 19.37     $ 18.06     $ 16.55     $ 18.06  
    Cash dividends   $ 0.155     $ 0.150     $ 0.150     $ 0.605     $ 0.600  
                                             
    Key Performance Ratios                                        
    Return on average assets     (0.18 %)     0.62 %     (0.25 %)     0.44 %     0.71 %
    Adjusted return on average assets (1)     1.15 %     0.67 %     (0.25 %)     0.92 %     0.71 %
    Return on average equity     (2.35 %)     7.28 %     (2.97 %)     5.33 %     8.59 %
    Adjusted return on average equity (1)     15.01 %     7.93 %     (2.97 %)     11.19 %     8.59 %
    Net interest margin (1)     3.83 %     3.43 %     3.35 %     3.51 %     3.41 %
    Efficiency ratio (1)     63.97 %     68.13 %     66.26 %     66.73 %     67.69 %
                                             
    Average Balances                                        
    Average assets   $ 2,051,578     $ 1,449,185     $ 1,372,365     $ 1,597,150     $ 1,363,339  
    Average earning assets     1,919,864       1,374,566       1,290,231       1,504,946       1,280,980  
    Average shareholders’ equity     157,844       122,802       113,614       130,715       112,083  
                                             
    Asset Quality                                        
    Loan charge-offs   $ 1,432     $ 1,667     $ 2,765     $ 4,033     $ 3,993  
    Loan recoveries     98       95       92       283       418  
    Net charge-offs     1,334       1,572       2,673       3,750       3,575  
    Non-accrual loans     7,058       5,929       6,763       7,058       6,763  
    Other real estate owned, net     53       56       —       53       —  
    Nonperforming assets (3)     7,111       5,985       6,763       7,111       6,763  
    Loans 30 to 89 days past due, accruing     3,085       2,358       2,484       3,085       2,484  
    Loans over 90 days past due, accruing     365       —       524       365       524  
    Special mention loans     7,043       516       —       7,043       —  
    Substandard loans, accruing     2,030       1,713       287       2,030       287  
                                             
    Capital Ratios (2)                                        
    Total capital   $ 181,449     $ 148,477     $ 142,333     $ 181,449     $ 142,333  
    Tier 1 capital     164,454       135,490       129,840       164,454       129,840  
    Common equity Tier 1 capital     164,454       135,490       129,840       164,454       129,840  
    Total capital to risk-weighted assets     12.35 %     14.29 %     14.05 %     12.35 %     14.05 %
    Tier 1 capital to risk-weighted assets     11.19 %     13.04 %     12.82 %     11.19 %     12.82 %
    Common equity Tier 1 capital to risk-weighted assets     11.19 %     13.04 %     12.82 %     11.19 %     12.82 %
    Leverage ratio     7.95 %     9.23 %     9.31 %     7.95 %     9.31 %
                                             

    FIRST NATIONAL CORPORATION
    Performance Summary
    (in thousands, except share and per share data)

    (unaudited)                                        
        For the Period Ended  
        Dec 31, 2024     Sept 30, 2024     Jun 30, 2024     Mar 31, 2024     Dec 31, 2023  
    Balance Sheet                                        
    Cash and due from banks   $ 24,916     $ 18,197     $ 16,729     $ 14,476     $ 17,194  
    Interest-bearing deposits in banks     137,958       108,319       118,906       124,232       69,967  
    Cash and cash equivalents   $ 162,874     $ 126,516     $ 135,635     $ 138,708     $ 87,161  
    Securities available for sale, at fair value     163,847       146,013       144,816       147,675       152,857  
    Securities held to maturity, at amortized cost (net of allowance for credit losses)     109,741       121,425       123,497       125,825       148,244  
    Restricted securities, at cost     3,741       2,112       2,112       2,112       2,078  
    Loans, net of allowance for credit losses     1,450,604       982,016       977,423       960,371       957,456  
    Other real estate owned, net     53       56       —       —       —  
    Premises and equipment, net     34,824       22,960       22,205       21,993       22,142  
    Accrued interest receivable     6,020       4,794       4,916       4,978       4,655  
    Bank owned life insurance     37,873       24,992       24,802       24,652       24,902  
    Goodwill     3,030       3,030       3,030       3,030       3,030  
    Core deposit intangibles, net     14,986       104       108       113       117  
    Other assets     22,688       16,698       18,984       17,738       16,653  
    Total assets   $ 2,010,281     $ 1,450,716     $ 1,457,528     $ 1,447,195     $ 1,419,295  
                                             
    Noninterest-bearing demand deposits   $ 520,153     $ 383,400     $ 397,770     $ 384,092     $ 379,208  
    Savings and interest-bearing demand deposits     924,880       663,925       665,208       677,458       662,169  
    Time deposits     358,745       205,930       202,818       197,587       192,349  
    Total deposits   $ 1,803,778     $ 1,253,255     $ 1,265,796     $ 1,259,137     $ 1,233,726  
    Other borrowings     —       50,000       50,000       50,000       50,000  
    Subordinated debt, net     21,176       4,999       4,998       4,998       4,997  
    Junior subordinated debt     9,279       9,279       9,279       9,279       9,279  
    Accrued interest payable and other liabilities     9,517       8,068       7,564       5,965       5,022  
    Total liabilities   $ 1,843,750     $ 1,325,601     $ 1,337,637     $ 1,329,379     $ 1,303,024  
                                             
    Preferred stock   $ —     $ —     $ —     $ —     $ —  
    Common stock     11,218       7,871       7,851       7,847       7,829  
    Surplus     77,058       33,409       33,116       33,021       32,950  
    Retained earnings     96,947       99,270       97,966       96,465       94,198  
    Accumulated other comprehensive (loss), net     (18,692 )     (15,435 )     (19,042 )     (19,517 )     (18,706 )
    Total shareholders’ equity   $ 166,531     $ 125,115     $ 119,891     $ 117,816     $ 116,271  
    Total liabilities and shareholders’ equity   $ 2,010,281     $ 1,450,716     $ 1,457,528     $ 1,447,195     $ 1,419,295  
                                             
    Loan Data                                        
    Mortgage real estate loans:                                        
    Construction and land development   $ 84,480     $ 61,446     $ 60,919     $ 53,364     $ 52,680  
    Secured by farmland     14,133       9,099       8,911       9,079       9,154  
    Secured by 1-4 family residential     547,576       351,004       346,976       347,014       344,369  
    Other real estate loans     658,029       440,648       440,857       436,006       438,118  
    Loans to farmers (except those secured by real estate)     940       633       349       332       455  
    Commercial and industrial loans (except those secured by real estate)     140,393       114,190       115,951       113,230       112,619  
    Consumer installment loans     7,582       5,396       5,068       4,808       4,753  
    Deposit overdrafts     450       253       365       251       222  
    All other loans     13,421       12,051       10,580       8,890       7,060  
    Total loans   $ 1,467,004     $ 994,720     $ 989,976     $ 972,974     $ 969,430  
    Allowance for credit losses     (16,400 )     (12,704 )     (12,553 )     (12,603 )     (11,974 )
    Loans, net   $ 1,450,604     $ 982,016     $ 977,423     $ 960,371     $ 957,456  
                                             

    FIRST NATIONAL CORPORATION
    Non-GAAP Reconciliation
    (in thousands, except share and per share data)

    (unaudited)                              
      For the Three Months Ended   For the Year Ended  
      Dec 31, 2024   Sept 30, 2024   Dec 31, 2023   Dec 31, 2024   Dec 31, 2023  
    Operating Net Income                              
    Net income (GAAP) $ (933 ) $ 2,248   $ (851 ) $ 6,966   $ 9,624  
    Add: Merger-related expenses   7,316     219     —     8,107     —  
    Add: Day 2 Non-PCD Provision   3,931     —     —     3,931     —  
    Subtract: Bargain purchase gain   (2,920 )   —     —     (2,920 )   —  
    Subtract: Tax effect of adjustment (4)   (1,439 )   (19 )   —     (1,463 )   —  
    Adjusted operating net income (non-GAAP) $ 5,955   $ 2,448   $ (851 ) $ 14,621   $ 9,624  
                                   
    Adjusted Earnings Per Share, Basic                              
    Weighted average shares, basic   8,971,649     6,287,997     6,261,500     6,955,592     6,265,394  
    Basic earnings (loss) per share (GAAP) $ (0.10 ) $ 0.36   $ (0.14 ) $ 1.00   $ 1.54  
    Adjusted earnings (loss) per share, basic (non-GAAP) $ 0.66   $ 0.39   $ (0.14 ) $ 2.10   $ 1.54  
                                   
    Adjusted Earnings Per Share, Diluted                              
    Weighted average shares, diluted   8,994,315     6,303,282     6,282,815     6,971,089     6,279,106  
    Diluted earnings (loss) per share (GAAP) $ (0.10 ) $ 0.36   $ (0.14 ) $ 1.00   $ 1.53  
    Adjusted diluted earnings (loss) per share (non-GAAP) $ 0.66   $ 0.39   $ (0.14 ) $ 2.10   $ 1.53  
                                   
    Adjusted Pre-Provision, Pre-Tax Earnings                              
    Net interest income $ 18,359   $ 11,749   $ 10,809   $ 52,452   $ 43,413  
    Total noninterest income   6,444     3,203     3,069     16,380     11,784  
    Net revenue $ 24,803   $ 14,952   $ 13,878   $ 68,832   $ 55,197  
    Total noninterest expense   21,929     10,459     9,100     52,934     37,242  
    Pre-provision, pre-tax earnings $ 2,874   $ 4,493   $ 4,778   $ 15,898   $ 17,955  
    Add: Merger expenses   7,316     219     —     8,107     —  
    Add: Day 2 Non-PCD Provision   3,931     —     —     3,931     —  
    Subtract: Bargain purchase gain   (2,920 )   —     —     (2,920 )   —  
    Adjusted pre-provision, pre-tax, earnings $ 7,270   $ 4,712   $ 4,778   $ 21,085   $ 17,955  
                                   
    Adjusted Performance Ratios                              
    Average assets $ 2,051,578   $ 1,449,185   $ 1,372,365   $ 1,597,150   $ 1,363,339  
    Return on average assets (GAAP)   (0.18 %)   0.62 %   (0.25 %)   0.44 %   0.71 %
    Adjusted return on average assets (non-GAAP)   1.15 %   0.67 %   (0.25 %)   0.92 %   0.71 %
                                   
    Average shareholders’ equity $ 157,844   $ 122,802     113,614   $ 130,715   $ 112,083  
    Return on average equity (GAAP)   (2.35 %)   7.28 %   (2.97 %)   5.33 %   8.59 %
    Adjusted return on average equity (non-GAAP)   15.01 %   7.93 %   (2.97 %)   11.19 %   8.59 %
                                   
    Pre-provision, pre-tax return on average assets (non-GAAP)   0.56 %   1.24 %   1.39 %   1.00 %   1.32 %
    Adjusted pre-provision, pre-tax return on average assets (non-GAAP)   1.42 %   1.30 %   1.39 %   1.32 %   1.32 %
                                   
    Net Interest Margin                              
    Tax-equivalent net interest income $ 18,461   $ 11,842   $ 10,889   $ 52,821   $ 43,738  
    Average earning assets   1,919,864     1,374,566     1,290,231     1,504,946     1,280,980  
    Net interest margin (non-GAAP)   3.83 %   3.43 %   3.35 %   3.51 %   3.41 %
                                   

    FIRST NATIONAL CORPORATION
    Non-GAAP Reconciliation
    (in thousands, except share and per share data)
    (unaudited)              

    		  
      For the Three Months Ended   For the Year Ended  
      Dec 31, 2024   Sept 30, 2024   Dec 31, 2023   Dec 31, 2024   Dec 31, 2023  
    Efficiency Ratio                              
    Total noninterest expense (GAAP) $ 21,929   $ 10,459   $ 9,100   $ 52,934   $ 37,242  
    Add: other real estate owned income, net   (5 )   (10 )   (2 )   (15 )   199  
    Subtract: amortization of intangibles   (448 )   (4 )   (4 )   (461 )   (18 )
    Subtract: loss on disposal of premises and equipment, net   3     (2 )   —     (47 )   —  
    Subtract: merger expenses   (7,316 )   (219 )   —     (8,107 )   —  
    Adjusted non-interest expense (non-GAAP) $ 14,163   $ 10,224   $ 9,094   $ 44,304   $ 37,423  
    Tax-equivalent net interest income (non-GAAP) $ 18,461   $ 11,842   $ 10,889   $ 52,821   $ 43,738  
    Total noninterest income (GAAP)   6,444     3,203     3,069     16,380     11,784  
    (Gain) loss on disposal of premises and equipment   —     —     (47 )   —     (47 )
    Gain on sale of other investment   —     —     (186 )   —     (186 )
    Bargain purchase gain   (2,920 )   —     —     (2,920 )   —  
    Securities losses (gains), net   154     (39 )   —     115     —  
    Adjusted income for efficiency ratio (non-GAAP) $ 22,139   $ 15,006   $ 13,725   $ 66,396   $ 55,289  
                                   
    Efficiency ratio (non-GAAP)   63.97 %   68.13 %   66.26 %   66.73 %   67.69 %
                                   

    FIRST NATIONAL CORPORATION
    Non-GAAP Reconciliation
    (in thousands, except share and per share data)

    (unaudited)                                        
        For the Three Months Ended     For the Year Ended  
        Dec 31, 2024     Sept 30, 2024     Dec 31, 2023     Dec 31, 2024     Dec 31, 2023  
    Tax-Equivalent Net Interest Income                                        
    GAAP measures:                                        
    Interest income – loans   $ 21,516     $ 14,479     $ 13,255     $ 63,483     $ 49,293  
    Interest income – investments and other     3,970       2,965       2,019       12,836       8,426  
    Interest expense – deposits     (6,415 )     (4,958 )     (4,232 )     (20,964 )     (13,660 )
    Interest expense – federal funds purchased     (1 )     –       –       (1 )     –  
    Interest expense – subordinated debt     (396 )     (69 )     (70 )     (603 )     (277 )
    Interest expense – junior subordinated debt     (68 )     (68 )     (68 )     (270 )     (271 )
    Interest expense – other borrowings     (247 )     (600 )     (95 )     (2,029 )     (98 )
    Net interest income   $ 18,359     $ 11,749     $ 10,809     $ 52,452     $ 43,413  
    Non-GAAP measures:                                        
    Add: Tax benefit realized on non-taxable interest income – loans (4)   $ 18     $ 13     $ —     $ 43     $ —  
    Add: Tax benefit realized on non-taxable interest income – municipal securities (4)     84       80       80       326       325  
    Tax benefit realized on non-taxable interest income   $ 102     $ 93     $ 80     $ 369     $ 325  
    Tax-equivalent net interest income   $ 18,461     $ 11,842     $ 10,889     $ 52,821     $ 43,738  
                                             
                                             
    Tangible Common Equity and Tangible Assets                                        
    Total assets (GAAP)   $ 2,010,281     $ 1,450,716     $ 1,419,295     $ 2,010,281     $ 1,419,295  
    Subtract: goodwill     (3,030 )     (3,030 )     (3,030 )     (3,030 )     (3,030 )
    Subtract: core deposit intangibles, net     (14,986 )     (104 )     (117 )     (14,986 )     (117 )
    Tangible assets (Non-GAAP)   $ 1,992,265     $ 1,447,582     $ 1,416,148     $ 1,992,265     $ 1,416,148  
                                             
    Total shareholders’ equity (GAAP)   $ 166,531     $ 125,115     $ 116,271     $ 166,531     $ 116,271  
    Subtract: goodwill     (3,030 )     (3,030 )     (3,030 )     (3,030 )     (3,030 )
    Subtract: core deposit intangibles, net     (14,986 )     (104 )     (117 )     (14,986 )     (117 )
    Tangible common equity (Non-GAAP)   $ 148,515     $ 121,981     $ 113,124     $ 148,515     $ 113,124  
                                             
    Tangible common equity to tangible assets ratio     7.45 %     8.43 %     7.99 %     7.45 %     7.99 %
                                             
                                             
    Tangible Book Value Per Share                                        
    Tangible common equity (non-GAAP)   $ 148,515     $ 121,981     $ 113,124     $ 148,515     $ 113,124  
    Common shares outstanding, ending     8,974,102       6,296,705       6,263,102       8,974,102       6,263,102  
    Tangible book value per share   $ 16.48     $ 19.37     $ 18.06     $ 16.48     $ 18.06  
       
    (1) Non-GAAP financial measure.  See “Non-GAAP Financial Measures” and “Non-GAAP Reconciliations” for additional information and detailed calculations of adjustments.
       
    (2) Capital ratios are for First Bank.
       
    (3) Nonperforming assets are comprised of nonaccrual loans and other real estate owned.
       
    (4) The tax rate utilized in calculating the tax benefit is 21%. Certain merger-related expenses were non-deductible.

    The MIL Network –

  • MIL-OSI United Kingdom: OSCE Co-operation with the Council of Europe: UK statement to the OSCE, February 2025

    Source: United Kingdom – Government Statements

    Ambassador Holland thanks Minister Bettel for outlining Luxembourg’s priorities at the Council of Europe, and for the close collaboration with the OSCE.

    Thank you Chair. And may I express my condolences – and those of my delegation and country – to our Swedish colleagues for the tragic school attack this week. Our thoughts are with you and the families and friends of the victims.

    Minister Bettel welcome to the Permanent Council. Thank you for your presentation and for your commitment to the work of the Council of Europe as Chair of the Committee of Ministers. The Council of Europe has been, and will continue to be, hugely important to the UK’s human rights and foreign policy agenda.

    The longstanding relationship between the OSCE and the Council of Europe is rooted in the promotion of human rights, democracy and rule of law – values that the UK is firmly committed to uphold. Respect for these common principles defines our shared endeavours in Vienna and in Strasbourg. Values such as the rule of law not only provide the freedoms which allow people to interact with each other in their day-to-day lives but also matter for growth, jobs and people’s livelihoods.

    We meet today at a particularly challenging time for European Security, with Russia‘s unprovoked and unjustified war in Ukraine about to enter a fourth year. We call on all OSCE participating States to uphold our common commitments to shared security on our continent.  We must strengthen Ukraine’s position to keep fighting through 2025 and beyond – for the sake of Ukraine itself, and Euro-Atlantic security.

    The UK is proud to be Chair of the Conference of Participants for the Register of Damage for Ukraine. The Register, now with over 14,000 claims, serves as a significant step towards securing justice for the Ukrainian people.

    The Council of Europe and the OSCE share much common ground – tackling serious organised crime and human trafficking, counter-terrorism, as well as promoting free and fair elections, media freedom, and gender rights. As both the OSCE and the Council of Europe face up to a series of common challenges this year, including a difficult security environment and – as you rightly say – the challenges of democratic backsliding, it is important that we continue to recognise each organisation’s individual merits and distinctiveness. We need to work in a coordinated way to employ the unique set of instruments and tools which each organisation offers to its States.

    Minister Bettel – like your country, the UK is, and will remain, a steadfast supporter of the work of both the Council of Europe and the OSCE. We offer you, and your team, our best wishes for your work throughout your Presidency.

    Updates to this page

    Published 6 February 2025

    Invasion of Ukraine

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Immingham Green Energy Terminal development consent decision announced

    Source: United Kingdom – Government Statements

    The Immingham Green Energy Terminal application has today been granted development consent by the Secretary of State for Transport.

    Immingham Green Energy Terminal

    The project comprises a new liquid bulk import terminal and associated processing facility, the purpose of which is to deliver a green hydrogen production facility. Imported ammonia will be stored and processed at the site to create green hydrogen, for onward transport to filling stations throughout the UK. Key project infrastructure comprises; a new approach trestle, jetty superstructure and topside infrastructure; and land side processing infrastructure. 

    The application was submitted to the Planning Inspectorate for consideration by Associated British Ports on 21 September 2023 and accepted for examination on 19 October 2023.  

    Following an examination during which the public, statutory consultees and interested parties were given the opportunity to give evidence to the Examining Authority, recommendations were made to the Secretary of State on 6 November 2024.   

    This is the 54th transport application out of 148 applications examined to date and was again completed by the Planning Inspectorate within the statutory timescale laid down in the Planning Act 2008.   

    Local communities continue to be given the opportunity of being involved in the examination of projects that may affect them. Local people, the local authority and other interested parties were able to participate in this six-month examination.   

    The Examining Authority listened and gave full consideration to all local views and the evidence gathered during the examination before making its recommendation to the Secretary of State.  

    The decision, the recommendation made by the Examining Authority to the Secretary of State for Transport and the evidence considered by the Examining Authority in reaching its recommendation are publicly available on the project pages of the National Infrastructure Planning website.  

    Journalists wanting further information should contact the Planning Inspectorate Press Office, on 0303 444 5004 or 0303 444 5005 or email:   

    Press.office@planninginspectorate.gov.uk

    Updates to this page

    Published 6 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Statement: Foreign Office summons Russian Ambassador

    Source: United Kingdom – Government Statements

    The Russian Ambassador was summoned for a meeting to revoke the accreditation of a Russian diplomat

    A Foreign Office spokesperson said: 

    We have summoned the Russian Ambassador for a meeting with a senior British official to revoke the accreditation of a Russian diplomat. 

    This is in response to Russia’s unprovoked and baseless decision to strip the accreditation of a British diplomat in Moscow in November.

    The UK will not stand for intimidation of our staff in this way, and so we are taking reciprocal action. 

    Any further action taken by Russia will be considered an escalation and responded to accordingly.

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 6 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Inter&Co Inc. Reports Highest Ever Net Income of R$973M in 2024

    Source: GlobeNewswire (MIL-OSI)

    BELO HORIZONTE, Brazil, Feb. 06, 2025 (GLOBE NEWSWIRE) — Inter&Co Inc. (NASDAQ: INTR | B3: INBR32), the leading financial super app providing financial and digital commerce services to over 36 million customers, today reported financial results for the fourth quarter of 2024.

    2024 Highlights:

    • Record Net Income of R$ 973 million in 2024, 3 times greater than 2023.
    • Total Net Revenue of R$ 6.4 billion, up 35% YoY, while Total Gross Revenues surpassed the mark of R$ 10 billion in 2024.
    • Net Interest Margin of 9.7% in 4Q24, up from 9.0% in the same period of 2023.
    • Net fee revenues of over R$ 2.0 billion, a 31% YoY growth, representing the strength of the platform effect.
    • Total clients grew to 36 million, with 20.6 million active clients and an activation rate of 57%.

    João Vitor Menin, Global CEO of Inter&Co commented:

    “Our story has been about innovation, delivering a superior financial super app with low-cost products, disrupting a traditional and inefficient industry. As a result, we have acquired over 36 million clients that are simplifying their financial lives by using our platform.”

    “In 2024, engagement continued to rise as we attracted a record 4.2 million active clients to our platform. This increased engagement fosters cross-selling among our seven verticals, generating a powerful network effect and enabling us to achieve remarkable results across all of them.”

    “As a result, we delivered a growing ROE of 11.7% in 2024 and finished the year with R$973 million in net income, greater than our entire historical profitability combined.”

    He added, “We entered 2025 with a strong balance sheet, one of the lowest costs of funding in the industry, a diversified credit portfolio, and asset quality metrics that continue to improve despite a more challenging scenario. I’m confident that our platform is exceptionally well positioned to continue succeeding in the years ahead.”

    Conference Call
    Inter&Co will discuss its 4Q2024 financial results on February 6th, 2024, at 11 a.m. ET (1 p.m. BRT). The webcast details, along with the earnings materials can be accessed on the company’s Investor Relations website at https://investors.inter.co/en/.

    About Inter&Co
    Inter&Co (NASDAQ: INTR) is the pioneer financial super app serving over 36 million consumers across the Americas. The Inter&Co ecosystem offers a broad array of services, including banking, investments, mortgages, credit, gift cards, and cross-border tools. The super app also boasts a dynamic marketplace, linking consumers with shopping discounts, cashback rewards, and exclusive access to marquee events across the globe. The company is expanding rapidly in the United States, as evidenced by its naming rights sponsorship of the Inter&Co Stadium that hosts soccer teams “Orlando City” and “Orlando Pride”. Focused on innovation and captivating member experiences, Inter&Co delivers comprehensive financial and lifestyle solutions to meet the evolving needs of modern consumers. For more information, visit: https://inter.co/en/us/.

    Investor Relations:
    Rafaela de Oliveira Vitória
    ir@inter.co

    Media Relations:
    Kaio Philipe
    kaio.philipe@inter.co

    Chemistry Agency
    interco@chemistryagency.com

    Disclaimer
    This report may contain forward-looking statements regarding Inter, anticipated synergies, growth plans, projected results and future strategies. While these forward-looking statements reflect our Management’s good faith beliefs, they involve known and unknown risks and uncertainties that could cause the company’s results or accrued results to differ materially from those anticipated and discussed herein. These statements are not guarantees of future performance. These risks and uncertainties include, but are not limited to, our ability to realize the number of projected synergies and the projected schedule, in addition to economic, competitive, governmental and technological factors affecting Inter, the markets, products and prices and other factors. In addition, this presentation contains managerial figures that may differ from those presented in our financial statements. The calculation methodology for these managerial numbers is presented in Inter’s quarterly earnings release. Statements contained in this report that are not facts or historical information may be forward looking statements under the terms of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may, among other things, beliefs related to the creation of value and any other statements regarding Inter. In some cases, terms such as “estimate”, “project”, “predict”, “plan”, “believe”, “can”, “expectation”, “anticipate”, “intend”, “aimed”, “potential”, “may”, “will/shall” and similar terms, or the negative of these expressions, may identify forward looking statements.

    These forward-looking statements are based on Inter’s expectations and beliefs about future events and involve risks and uncertainties that could cause actual results to differ materially from current ones. Any forward-looking statement made by us in this document is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future developments or otherwise. The definition of each such operational metric is included in the earnings release available on our Investor Relations website.

    For additional information that about factors that may lead to results that are different from our estimates, please refer to sections “Cautionary Statement Concerning Forward Looking Statements” and “Risk Factors” of Inter&Co Annual Report on Form 20-F. The numbers for our key metrics (Unit Economics), which include, among other, active clients and average revenue per active client (ARPAC), are calculated using Inter’s internal data. Although we believe these metrics are based on reasonable estimates, there are challenges inherent in measuring the use of our business. In addition, we continually seek to improve our estimates, which may change due to improvements or changes in methodology, in processes for calculating these metrics and, from time to time, we may discover inaccuracies and adjust to improve accuracy, including adjustments that may result in recalculating our historical metrics.

    About Non-IFRS Financial Measures
    To supplement the financial measures presented in this press release and related conference call, presentation, or webcast in accordance with IFRS, Inter&Co also presents non-IFRS measures of financial performance, as highlighted throughout the documents. The non-IFRS Financial Measures include, among others: Adjusted Net Income, Cost of Funding, Efficiency Ratio, Cost of Risk, Cards+PIX TPV, Gross ARPAC, Global Clients, Total Gross Revenues, and Return on average equity (ROE).

    A “non-IFRS financial measure” refers to a numerical measure of Inter&Co’s historical or financial position that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with IFRS in Inter&Co’s financial statements. Inter&Co provides certain non-IFRS measures as additional information relating to its operating results as a complement to results provided in accordance with IFRS. The non-IFRS financial information presented herein should be considered together with, and not as a substitute for or superior to, the financial information presented in accordance with IFRS. There are significant limitations associated with the use of non-IFRS financial measures. Further, these measures may differ from the non-IFRS information, even where similarly titled, used by other companies and therefore should not be used to compare Inter&Co’s performance to that of other companies.

    The MIL Network –

  • MIL-OSI USA: Greene County Awarded $6.2 Million to Replace Poplar Springs Bridge

    Source: US Federal Emergency Management Agency

    Headline: Greene County Awarded $6.2 Million to Replace Poplar Springs Bridge

    Greene County Awarded $6.2 Million to Replace Poplar Springs Bridge

    The State of Tennessee and FEMA have approved $6.2 million to replace Greene County’s Poplar Bridge, which spans the Nolichucky River and was destroyed and submerged in the river when Tropical Storm Helene swept across Eastern Tennessee in late September.The nearly 10,000 square foot bridge, also known as Easterly Bridge, will be demolished and restored with funding from FEMA’s Public Assistance program. Work to be completed includes architectural and engineering design services that use best construction practices and applicable codes and standards.FEMA’s share for this project is $4,656,288; the nonfederal share is $1,552,096.The cost estimate was generated using FEMA’s Rapid Assessment with Public Infrastructure Data, which uses geospatial and aerial imagery as well as available Federal Highway Administration and State Department of Transportation data. The scope of work will be updated when the method of repair, surveys and assessments are completed. Property insurance coverage for road, road rights-of-way, embankment erosion, bridges or culvert damage represented on this project are not insured or insurable.Because Public Assistance is a cost-sharing program, FEMA reimburses state applicants 75% of the eligible costs of repairs to existing structures. The federal share is paid directly to the state to disburse to agencies, local governments and certain private nonprofit organizations that incurred those costs. The remaining 25% represents nonfederal funds.The Public Assistance program is FEMA’s largest grant program, providing funding to help communities responding to and recovering from major presidentially declared disasters or emergencies. Tropical Storm Helene swept across Tennessee Sept. 26-30, and the president approved a major disaster declaration on Oct. 2.
    kwei.nwaogu
    Thu, 02/06/2025 – 03:46

    MIL OSI USA News –

  • MIL-OSI USA: Carter County Awarded $10.77 Million for Bridges Destroyed by Helene

    Source: US Federal Emergency Management Agency

    Headline: Carter County Awarded $10.77 Million for Bridges Destroyed by Helene

    Carter County Awarded $10.77 Million for Bridges Destroyed by Helene

    The State of Tennessee and FEMA have approved $10.77 million for emergency measures and the restoration of two Carter County bridges that cross the Elk River in Elizabethton. Both were destroyed when Tropical Storm Helene swept across Eastern Tennessee in late September. The two-lane bridges, both built in 1957, are each 230-foot-long and located about a mile apart along the winding Elk River. Known as the Poga Bridge, they were washed away by Helene’s floodwaters and will be restored with funding from FEMA’s Public Assistance program. The bridge replacement projects will follow best construction practices and meet applicable codes and standards.FEMA’s estimated share for each bridge replacement project is $3,504,046; the nonfederal share for each project is estimated at $1,168,015. Both Poga Bridges were also approved for an additional $1.07 million from FEMA for emergency protective measures taken during the response to Helene. The nonfederal share for that Category B Public Assistance funding was estimated at $358,427. Cost estimates were generated using FEMA’s Rapid Assessment with Public Infrastructure Data, which uses geospatial and aerial imagery as well as available Federal Highway Administration and State Department of Transportation data. Because Public Assistance is a cost-sharing program, FEMA reimburses state applicants 75% of the eligible costs of repairs to existing structures. The federal share is paid directly to the state to disburse to agencies, local governments and certain private nonprofit organizations that incurred those costs. The remaining 25% represents nonfederal funds.The Public Assistance program is FEMA’s largest grant program, providing funding to help communities responding to and recovering from major presidentially declared disasters or emergencies. Tropical Storm Helene swept across Tennessee Sept. 26-30, and the president approved a major disaster declaration on Oct. 2.
    kwei.nwaogu
    Thu, 02/06/2025 – 03:50

    MIL OSI USA News –

  • MIL-OSI USA: State, FEMA Approve $9.77 Million to Replace Chestoa Pike Road Bridge

    Source: US Federal Emergency Management Agency

    Headline: State, FEMA Approve $9.77 Million to Replace Chestoa Pike Road Bridge

    State, FEMA Approve $9.77 Million to Replace Chestoa Pike Road Bridge

    The State of Tennessee and FEMA have approved $9.77 million to replace Unicoi County’s Chestoa Pike Road Bridge which straddles the Nolichucky River and was destroyed when floodwaters from Tropical Storm Helene swept across Eastern Tennessee in late September.Funding from FEMA’s Public Assistance program covers eligible costs to replace 13,451 square feet of the two-lane concrete bridge built in 1991, using best construction practices, modern means and methods, and Codes and Standards set by the American Association of State Highway and Transportation Officials.FEMA’s share for this project is $7,334,310; the nonfederal share is $2,444,770.The federal funding approved for the Chestoa Pike Road Bridge, which has four spans, is based on estimates derived from FEMA’s Rapid Assessment of Public Infrastructure Data. That process uses geospatial and aerial imagery as well as assessor information to develop an estimated cost for public infrastructure that was destroyed or damaged in a disaster. Because Public Assistance is a cost-sharing program, FEMA reimburses state applicants 75% of the eligible costs of repairs to existing structures. The federal share is paid directly to the state to disburse to agencies, local governments and certain private nonprofit organizations that incurred those costs. The remaining 25% represents nonfederal funds. The Public Assistance program is FEMA’s largest grant program, providing funding to help communities responding to and recovering from major presidentially declared disasters or emergencies. Tropical Storm Helene swept across Tennessee Sept. 26-30, and the president approved a major disaster declaration on Oct. 2.
    kwei.nwaogu
    Thu, 02/06/2025 – 03:41

    MIL OSI USA News –

  • MIL-OSI USA: 2025-15 AG NEWS RELEASE – ATTORNEY GENERAL LOPEZ AND 13 OTHER ATTORNEYS GENERAL ISSUE JOINT STATEMENT ON PROTECTING ACCESS TO GENDER-AFFIRMING CARE

    Source: US State of Hawaii

    2025-15 AG NEWS RELEASE – ATTORNEY GENERAL LOPEZ AND 13 OTHER ATTORNEYS GENERAL ISSUE JOINT STATEMENT ON PROTECTING ACCESS TO GENDER-AFFIRMING CARE

    Posted on Feb 5, 2025 in Latest Department News, Newsroom

     

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    DEPARTMENT OF THE ATTORNEY GENERAL

    KA ʻOIHANA O KA LOIO KUHINA

     

    JOSH GREEN, M.D.
     GOVERNOR

    KE KIAʻĀINA

     

    ANNE LOPEZ

    ATTORNEY GENERAL

    LOIO KUHINA

     

     

    ATTORNEY GENERAL LOPEZ AND 13 OTHER ATTORNEYS GENERAL ISSUE JOINT STATEMENT ON PROTECTING ACCESS TO GENDER-AFFIRMING CARE

     

    News Release 2025-15

     

    FOR IMMEDIATE RELEASE                                                       

    February 4, 2025

     

    HONOLULU –Attorney General Anne Lopez today joined a coalition of 14 attorneys general to reaffirm their commitment to protecting access to gender-affirming care in the face of the Trump Administration’s recent Executive Order. The coalition released the following statement: 

     

    “As state attorneys general, we stand firmly in support of healthcare policies that respect the dignity and rights of all people. Health care decisions should be made by patients, families and doctors, not by a politician trying to restrict freedoms. Gender-affirming care is essential, lifesaving medical treatment that supports individuals in living as their authentic selves.

     

    The Trump Administration’s recent Executive Order is wrong on the science and the law. Despite what the Trump Administration has suggested, there is no connection between “female genital mutilation” and gender-affirming care, and no federal law makes gender-affirming care unlawful. President Trump cannot change that by Executive Order.  

     

    Last week, attorneys general secured a critical win from a federal court that directed the federal government to resume funding that had been frozen by the Trump Administration. In response to the court’s order, the Department of Justice has sent a notice stating that “federal agencies cannot pause, freeze, impede, block, cancel, or terminate any awards or obligations on the basis of the OMB memo, or on the basis of the President’s recently issued Executive Orders.” This means that federal funding to institutions that provide gender-affirming care continues to be available, irrespective of President Trump’s recent Executive Order. If the federal administration takes additional action to impede this critical funding, we will not hesitate to take further legal action. 

     

    State attorneys general will continue to enforce state laws that provide access to gender-affirming care, in states where such enforcement authority exists, and we will challenge any unlawful effort by the Trump Administration to restrict access to it in our jurisdictions.” 

     

    Joining Attorney General Lopez in issuing this statement are the attorneys general of California, Colorado, Connecticut, Delaware, Illinois, Maine, Maryland, Massachusetts, New Jersey, New York, Nevada, Rhode Island, Vermont and Wisconsin.

     

    # # #

     

    Media contacts:

    Dave Day

    Special Assistant to the Attorney General

    Office: 808-586-1284                                                  

    Email: [email protected]        

    Web: http://ag.hawaii.gov

     

    Toni Schwartz
    Public Information Officer
     Hawai‘i Department of the Attorney General
    Office:     808-586-1252
    Cell: 808-379-9249
    Email:     [email protected] 

    Web: http://ag.hawaii.gov

     

    MIL OSI USA News –

  • MIL-OSI: Descartes Showcases Global Trade Intelligence Technology Innovations

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, Feb. 06, 2025 (GLOBE NEWSWIRE) — Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, is scheduled to showcase numerous technology innovations to its global trade intelligence software suite at Descartes’ Innovation Forum event, which takes place in Washington, DC from February 11-12, 2025. Innovations to Descartes’ solution suite help companies in diverse industries manage the cross-border trade of merchandise, commodities and services more securely and efficiently in the face of expanding compliance requirements, geopolitical volatility, and evolving tariffs and trade barriers.

    “The current environment of ever-changing and complex trade regulations is challenging to manage. Our solutions and trade data help simplify how our customers’ teams conduct business while helping them mitigate risk,” said Brian Hodgson, General Manager, Trade Intelligence at Descartes. “Our technology innovations are focused on helping companies build more agile, intelligent and resilient supply chain networks that allow them to keep pace with frequent and complex tariff and regulatory changes, secure better sources of supply, and acquire high quality competitive intelligence.”

    Descartes’ global trade intelligence innovation and enhancements include:

    • Artificial Intelligence (AI)-enabled screening and classification to scale compliance operations. AI-driven screening for restricted, sanctioned and denied parties quarantines low-quality false positives and identifies when additional due diligence is required. AI-driven import/export classification accelerates product lookup capabilities in combination with other features such as regulations cross-referencing and landed cost calculations. Both innovations help companies more efficiently access and manage high volume, repetitive tasks without overloading existing compliance resources or adding new staff.
    • AI-based agent to speed complex global trade intelligence queries. Converse in multiple languages with an AI-based agent to answer common questions; quickly identify historical trade patterns, emerging trends, or specific data needs (e.g., commodities, companies, products); and receive text- and/or graph-based responses. This helps users define searches more precisely, ensuring they extract the most relevant global trade data and that it’s presented effectively. It makes global trade data content more accessible and actionable, while minimizing the training time required to build proficiency in developing optimal queries.
    • Expanded global trade content offerings to simplify more wholistic risk assessments. Combining traditional Harmonized System (HS)-based trade data content with both optional experience-based content, such as previously classified products, and timely innovative-based content, such as legislation and/or regulations, provides companies with a broader content ecosystem to facilitate efficient and effective risk assessment associated with product, party or shipment compliance.
    • Enhanced analytics to generate insights and inform strategic, evidence-based decision making. Advanced Microsoft Power BI-based analytics aggregates data from screening applications and other sources (e.g., visitor management, license management, other operational systems) to provide a single reporting view. Companies no longer need to rely on complicated integrations between applications to access sophisticated analytics that provide useful insight into their compliance activities, particularly in large enterprises.
    • Expanded capabilities to manage increasing export controls and complexities around export license management. Expanded set of East Asian countries for compliance checks and license determinations, in addition to enhanced workflows and data sharing capabilities for very complex controlled goods businesses (e.g., aerospace and defense), which help companies better manage compliance with local laws, international agreements and security protocols.

    Learn more about Descartes’ Global Trade Intelligence solutions.

    Descartes’ Innovation Forum events offer a unique opportunity for Descartes customers and United by Design partners worldwide to connect with the Descartes team. These forums aim to share best practices in using Descartes’ technologies, explore ways to enhance operations with Descartes’ expanding solutions, and gather valuable feedback on product development. More information on the Global Trade Intelligence event is available here.

    About Descartes

    Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.

    Global Media Contact
    Cara Strohack                                                                     
    Tel: 226-750-8050                                 
    cstrohack@descartes.com  

    Cautionary Statement Regarding Forward-Looking Statements

    This release contains forward-looking information within the meaning of applicable securities laws (“forward-looking statements”) that relate to Descartes’ global trade intelligence solution offerings and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, “Certain Factors That May Affect Future Results” in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes’ most recently filed management’s discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

    The MIL Network –

  • MIL-OSI: YieldMax™ Launches Its First 0DTE ETF YieldMax™ S&P 500 0DTE Covered Call Strategy ETF (SDTY)

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, MILWAUKEE and NEW YORK, Feb. 06, 2025 (GLOBE NEWSWIRE) — YieldMax™ announced the launch today of its first YieldMax™ 0DTE Covered Call Strategy ETF:

    YieldMax™ S&P 500 0DTE Covered Call Strategy ETF (Nasdaq: SDTY)

    SDTY Overview

    SDTY is an actively managed ETF that utilizes a synthetic covered call strategy designed to generate weekly income while also providing exposure to the price return of the S&P 500 (“the Index”). SDTY generates income primarily by utilizing zero days to expiry (“0DTE”) options on an Index and/or passively managed ETFs (“Index ETFs”) that tracks the Index’s performance.

    SDTY’s Option Strategy

    SDTY employs a synthetic covered call strategy by selling and purchasing call options on the Index or Index ETFs. Each business day, typically at market open, the Fund sells out-of-the-money (OTM) call options with zero days to expiration (“0DTE”), which expire the same day they are sold. OTM options have a strike price above the current Index value. SDTY’s synthetic covered call strategy is established by combining the call options sold to generate income with buying call options for exposure to the Index.

    SDTY’S Return Profile and Index Performance

    SDTY earns income by selling out-of-the-money 0DTE call options daily. The premiums from these options add to income but limit participation in Index gains. If the Index rises past the strike price, losses on sold options can offset gains. This strategy balances income generation with limited Index upside exposure while premiums can help mitigate losses if the Index declines.

    SDTY Distribution Schedule

    SDTY is the first member of the YieldMax™ ETF 0DTE family and like all YieldMax™ ETFs, SDTY aims to generate income to investors. With respect to distributions, SDTY aims to make distributions on a weekly basis and its first weekly distribution is expected to be announced on February 19, 2025.

    Why Invest in SDTY?

    • SDTY seeks to generate weekly income which is not dependent on the value of its Index (or ETFs that track the Index’s performance).
    • SDTY aims to participate in a portion of the Index gains which may be capped.

    Important Information

    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about each Fund, visit our website at www.YieldMaxETFs.com. Read the prospectus or summary prospectus carefully before investing.

    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.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures

    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 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 Index (or ETFs that track the Index’s performance)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 Index (or ETFs that track the Index’s performance) 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 Index (or ETFs that track the Index’s performance) Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high Index (or ETFs that track the Index’s performance) turnover rate increases transaction costs, which may increase the Fund’s expenses.

    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.

    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.

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way.

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

    © 2025 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI: Sylogist Declares Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Feb. 06, 2025 (GLOBE NEWSWIRE) — Sylogist Ltd. (TSX:SYZ) (“Sylogist” or the “Company”), a leading public sector SaaS company, is pleased to announce that its Board of Directors has declared a dividend of $0.01 per share on Sylogist’s common shares to shareholders of record on February 28th, 2025, payable on March 12th, 2025.

    All dividends paid by Sylogist to holders of common shares in the capital of the Company will be treated as eligible dividends pursuant to the Income Tax Act (Canada).

    About Sylogist
    Sylogist provides mission-critical SaaS solutions to over 2,000 public sector customers globally across the government, nonprofit, and education verticals. The Company’s stock is traded on the Toronto Stock Exchange under the symbol SYZ. Information about Sylogist, inclusive of full financial statements together with Management’s Discussion and Analysis, can be found at www.sylogist.com or at www.sedarplus.ca.

    For further information contact:

    Sujeet Kini, Chief Financial Officer
    Sylogist Ltd.

    (416) 491-8004
    ir@sylogist.com

    The MIL Network –

  • MIL-OSI NGOs: These bones will rise again: a defiant quest for justice for Thulani Maseko

    Source: Amnesty International –

    21 January marked two years since the unlawful killing of Eswatini human rights lawyer Thulani Maseko. Amnesty International Campaigner Nkanyiso Mtolo attended a vigil in his memory.

    By Nkanyiso Mtolo

    On Tuesday 21 January, I gathered with a group of activists at the home of Tanele Maseko in Pretoria to share memories, laughter and solemn reflection. It had been two years since Tanele’s late husband Thulani Maseko, a fearless defender of justice in Eswatini*, was shot and killed at his home. With quiet grace, Tanele and her children welcomed us to their living room for a dinner and vigil. We lit candles in Thulani’s memory and resolved that his legacy would not be buried with him.

    As I sat with Thulani’s family and friends, I was struck by the way their defiance mirrored his own. The stories they shared carried the weight of loss but also the strength of determination.

    Tanele’s close friend Bonolo Makgale set the tone for the evening. She stood up, and with a voice quivering but not cowed, said: “We are here today with heavy hearts because someone we loved was taken away from us. And yet, we are here, reminded by the value of community and solidarity.”

    Others remembered Thulani’s courage. One comrade described how during a particularly repressive time in Eswatini, fellow lawyers, afraid to risk the retribution of the state, would prepare cases, but bring them to Thulani to file under his name. Put simply, he was fearless.

    The face of Thulani’s killer

    When Tanele spoke, she described how much she missed her “sweetie”, as she calls him to this day. She recalled their many conversations, often over a glass of Thulani’s favourite whisky, in which they discussed politics and human rights, their debates stretching across whole afternoons.

    It was during one such conversation in their living room that he was shot dead in 2023. On Tuesday, Tanele told us that she still vividly remembers the face of his killer, who remains unknown and at large. She vowed that when there is a real investigation into Thulani’s killing — which the Eswatini government has yet to conduct — she will provide a description of the killer and identify them before a court.

    Tanele’s defiance has become the heartbeat of the movement for justice for Thulani. Simphiwe Sidu, the couple’s friend and human rights lawyer, said that, after the killing, we would gather at Tanele’s house to offer solidarity and support. But now it is the opposite: when we gather at their home, it is Tanele and her children, with their unending resolve, who give us the strength to keep fighting for justice.

    His killing was intended to silence a voice that had become too powerful, too fearless. Yet, as Zimbabwean author Panashe Chigumadzi wrote in These Bones Will Rise Again, the struggles of people who resist cannot be buried. Their ideals and spirit rise again, carried forward by those who refuse to forget.

    Not in vain

    Indeed, despite the weight of an absolute monarchy that criminalizes dissent, bans political parties and violently silences critics, Thulani’s ideals — “justice, truth and democracy” — cannot be extinguished, as reflected in the work of activists and his supporters, who will not allow his sacrifice to be in vain.

    Local organizations and activists are calling out for justice, leading a quiet but growing movement. For instance, the Swaziland Massacre Victims and Survivors’ Association works tirelessly to document state violence. Not only does their work provide a platform for accountability and redress, but they ensure that victims of unlawful killings, such as Thulani,  torture and repression are not forgotten.

    Grassroots groups like the Foundation for Socio-Economic Justice empower workers to fight for fair wages in industries dominated by exploitation, while the Swaziland Rural Women’s Assembly mobilizes rural women to demand water rights and protection of their land. Meanwhile, Eswatini Sexual and Gender Minorities fights for the inclusion and protection of LGBTI people in a country where they face intense discrimination, including criminalization.

    Thulani’s spirit lives on in the courage of these Eswatini activists, the boldness of trade unions, the resilience of rural women and the growing calls for accountability online and in the streets.

    “Justice, truth and democracy” — cannot be extinguished.

    A personal fight

    For me, this fight is personal. I am honoured to be a close friend of Tanele and now an uncle to Thulani’s boys, and I carry cherished memories of us cooking together in the Maseko kitchen — meals seasoned with laughter, fierce debates and a shared determination to build strategies for justice and accountability.

    As the Country Campaigner in Amnesty International’s East and Southern Africa office, I lead campaigns in Botswana, Namibia, Lesotho, and Eswatini. I had the privilege of leading the 500 Days Campaign, marking 500 days since Thulani’s death. Through this campaign, we demanded justice, mobilized global pressure on the Eswatini government, and amplified the voices of those risking everything to speak out.

    More broadly, at Amnesty International we have exposed the crackdown on activists, the misuse of repressive laws and the lack of justice for human rights violations. We have supported independent forensic investigations, provided emergency relief for at-risk activists, campaigned for the release of arbitrarily detained members of parliament, and backed legal challenges against the criminalization of LGBTI people.

    We also continue to pressure the Southern African Development Community to act on its own recommendations to ensure that Thulani’s case and human rights in Eswatini remain central to the pursuit of justice and accountability.

    A legacy to inspire

    After everyone had shared their memories of Thulani, we blew out the candles and packed them away. Although the light had faded, the flame within us had only grown stronger. In the quiet that followed, there was no sense of finality — only the unspoken promise to carry Thulani’s fight forward, to keep his memory alive not just in ritual, but in action.

    A movement for justice and accountability is emboldening — in living rooms, online and in the picket line. People are refusing to forget. They are refusing to let fear prevail. They are rising to ensure that Thulani’s ideals — of a freer, fairer Eswatini — are realized.

    Thulani’s bones will rise again — not as a distant promise but as a living testament to the unyielding fight for justice. For Thulani. For Eswatini. For us all.

    *In 2018, King Mswati III unilaterally changed the name of the country from Swaziland to Eswatini, a decision which Thulani challenged. However, many activists and human rights defenders, including Tanele Maseko, continue to use the name Swaziland.

    MIL OSI NGO –

  • MIL-OSI United Kingdom: expert reaction to Copernicus data reporting that January 2025 was the warmest on record globally

    Source: United Kingdom – Executive Government & Departments

    Scientists comment on data published by Copernicus that shows January 2025 was the warmest on record globally.

    Dr Joel Hirschi, Associate Head of Marine Systems Modelling, UK’s National Oceanography Centre (NOC), said:

    “One should not infer too much out of one month temperature data, as temperature anomalies can vary a lot.  The global temperatures for 2024 and now early 2025 have been tracking the record temperatures we saw in 2023 (and 2024) quite closely.  The last few months of 2024 were slightly cooler than in 2023 and January 2025 is now just warmer than January 2024.

    “Despite La Niña conditions having developed in the tropical Pacific, global temperatures remain very high.  This pattern is similar to what we observed after the El Niño events of 2015/16 and 2019/20 when global temperatures remained close to record warm levels even after the onset of La Niña conditions.

    “Global sea surface temperatures are a bit lower than in 2024 and will likely remain lower as we move further into 2025.”

    Prof Richard Allan, Professor of Climate Science, University of Reading, said:

    “Human caused warming of the ocean is accelerating and this is dominating to an ever greater extent over the natural year to year fluctuations in climate.  Although the swing from moderate El Niño to a weak La Niña during 2024 had a small cooling effect on the surface of the ocean, heat continues to flood into the climate system as atmospheric greenhouse gases continue to rise and the reflective haze of aerosol particle pollution diminishes in some regions following clean air regulation.  Aside from a cooler than average equatorial band in the eastern Pacific due to the weak La Niña conditions, much of the rest of the global sea surface remains remarkably warm in early 2025, primarily a result of human-caused warming of climate.

    “Changing weather patterns from week to week can rapidly alter temperatures over continental regions, which warm up and cool down more quickly than the oceans.  Based upon the most up to date, state of the art Copernicus data, large areas of Europe, Canada and Siberia experienced less cold weather than is normal for January but parts of South America, Africa, Australia and Antarctica also experienced above average temperatures which contributed along with the balmy oceans to the unexpected record global temperatures at the beginning of 2025.  As industrial activity continues to spew greenhouse gases into the air, this growing heating effect is tipping the balance toward record warmth and worsening hot, dry and wet extremes.”

    Prof Bill McGuire, Emeritus Professor of Geophysical & Climate Hazards, UCL, said:

    “The fact that the latest robust Copernicus data reveals the January just gone was the hottest on record – despite an emerging La Nina, which typically has a cooling effect – is both astonishing and, frankly terrifying.  Having crashed through the 1.5C limit in 2024, the climate is showing no signs of wanting to dip under it again, reflected by the fact that this is the 18th of the last 19 months to see the global temperature rise since pre-industrial times top 1.5C.  On the basis of the Valencia floods and apocalyptic LA wildfires, I don’t think there can be any doubt that dangerous, all-pervasive, climate breakdown has arrived.  Yet emissions continue to rise, while fossil fuel corporations seek to expand operations. Grim doesn’t even begin to describe our prospects.”

    Dr Friederike Otto, Senior Lecturer at the Centre for Environmental Policy and co-lead of World Weather Attribution, Imperial College London, said: 

    “This January is the hottest on record because countries are still burning huge amounts of oil, gas and coal.

    “Sure, El Niño and La Niña add or take off a tiny bit of warming, but the reason we’ve broken another record is the continued burning of fossil fuels.

    “The LA wildfires were a stark reminder that we have already reached an incredibly dangerous level of warming.  We’ll see many more unprecedented extreme weather events in 2025.

    “If politicians really care about people’s lives and their children’s futures, transitioning away from fossil fuels would need to be top of their agenda, to make the world safer and fairer.

    “This data shows very clearly what hundreds of other high-quality analyses have shown in recent decades – more burning of fossil fuels leads to more emissions that lead to more warming.”

    Declared interests

    Dr Joel Hirschi: “No conflicts of interest.”

    Prof Richard Allan: “No conflicting interests.”

    Dr Friederike Otto: “No DOIs.”

    MIL OSI United Kingdom –

  • MIL-OSI Russia: The government has approved the parameters for writing off the regions’ debt on budget loans

    Translartion. Region: Russians Fedetion –

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

    The work is being carried out on the instructions of the President.

    Document

    Resolution of February 1, 2025 No. 79

    Prime Minister Mikhail Mishustin signed a resolution approving the rules for writing off regions’ debt on budget loans and a list of areas for spending the released funds.

    According to the document, regions are exempted from paying off two-thirds of the debt on budget loans that has accumulated as of March 1, 2024. To do this, regional leaders must submit a corresponding application to the Ministry of Finance by March 1, 2025, indicating the planned activities at the expense of funds released from write-offs.

    The region should invest at least half of these funds in the implementation of infrastructure projects in the housing and utilities sector. The rest can be used to relocate citizens from dilapidated housing, upgrade public transport, develop key settlements, implement new investment projects, compensate for lost income from the use of investment tax deductions, support companies managing territories with preferential tax regimes, and recapitalize industrial development funds, guarantee and microfinance organizations.

    Regions with low budgetary provision are allowed to use the released funds for activities within the framework of the implementation of new national projects and for expenses related to the special military operation. Subjects included in the Far Eastern Federal District and the Arctic zone can use the released funds for the implementation of activities within the framework of master plans of cities located in these territories.

    The resolution was prepared to implement the instructions of the President, which he gave in 2024 following the results of the Address to the Federal Assembly and following the meeting of the Council for Strategic Development and National Projects and the State Council commissions on socio-economic development.

    Speaking about the decision taken onGovernment meeting on February 6, Mikhail Mishustin noted that the formation of modern infrastructure is one of the basic conditions for further economic growth. “The efforts of the federal government and local leaders are aimed at this,” the head of the cabinet emphasized.

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

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Union Minister for Science and Technology Dr. Jitendra Singh highlights steps taken by Government to Boost Women’s Participation in STEM

    Source: Government of India

    Posted On: 06 FEB 2025 3:44PM by PIB Delhi

    Union Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singh stated that Department of Science and Technology (DST) is implementing the ‘Women in Science and Engineering-KIRAN (WISE-KIRAN)’ scheme to promote women’s participation in STEM fields while replying to an unstarred question in Rajya Sabha Today.

    According to the written reply, the Minister enlisted various steps taken by government in detail-

    Fellowship Programmes to Support Women in Research

    • WISE-PhD Fellowship: Supports women in pursuing research in basic and applied sciences.
    • WISE-Post Doctoral Fellowship (WISE-PDF) & WISE-SCOPE: Encourages women to pursue postdoctoral research.
    • WIDUSHI Programme: Helps senior women scientists, including retired and unemployed professionals, continue their research careers.

    WISE-IPR: Training Women in Intellectual Property Rights

    The WISE Internship in IPR (WISE-IPR) offers a one-year on-the-job training in Intellectual Property Rights for women.

    Vigyan Jyoti: Inspiring Young Girls to Join STEM

    The Vigyan Jyoti programme mentors’ meritorious girls in Class IX-XII, encouraging them to pursue higher education and careers in STEM fields where female participation is low.

    BioCARe Fellowship: Empowering Women in Biotechnology

    The BioCARe Fellowship by the Department of Biotechnology (DBT) supports women scientists in biotechnology and allied fields, helping them establish a strong research career.

    NIDHI: Supporting Women-Led Startups in Technology

    The National Initiative for Developing and Harnessing Innovations (NIDHI) provides women entrepreneurs with:

    • Capacity building, incubation facilities, mentorship, and early-stage funding.
    • NIDHI-Seed Support Program (NIDHI-SSP): Early-stage seed funding for startups, including women-led ventures.

    Technology Business Incubators in Women’s Universities

    DST has established Technology Business Incubators (TBIs) in:

    • Indira Gandhi Delhi Technical University for Women (IGDTUW), Delhi
    • Sri Padmavati Mahila Visvavidyalayam (SPMVV), Tirupati
      Additionally, an Inclusive Technology Business Incubator (iTBI) has been set up at Delhi Technological University (DTU), Delhi, focusing on gender, caste, and geographical inclusivity in entrepreneurship.

    GATI: Driving Gender Equality in Research Institutions

    The Gender Advancement for Transforming Institutions (GATI) programme under WISE-KIRAN promotes gender-sensitive policies in research institutions to increase women’s representation in STEMM (Science, Technology, Engineering, Mathematics, and Medicine).

    Women Scientist Scheme (WOS): Reviving Careers and Driving Research

    • WOS-A: Supports women returning to research in basic and applied sciences.
    • WOS-B: Enables women scientists to provide S&T solutions to societal challenges.
    • WOS-C: Trains women in Intellectual Property Rights (IPR), with 523 women supported in the last 10 years, of whom 40% are now registered Patent Agents.

    Dr. Jitendra Singh highlighted that 2076 women scientists have benefited under WOS-A, with 40% completing PhDs and publishing 5000+ research papers.

    “These initiatives collectively empower women to excel in STEM fields, research, and entrepreneurship, creating a more inclusive scientific ecosystem in India”, says Dr. Singh

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Minister Dr. Jitendra Singh reiterates government’s commitment to “Zero Tolerance Against Corruption” and highlights various steps taken to curb it

    Source: Government of India

    Union Minister Dr. Jitendra Singh reiterates government’s commitment to “Zero Tolerance Against Corruption” and highlights various steps taken to curb it

    The amendment to Prevention of Corruption Act, 1988 in the year 2018 criminalizes the act of giving bribe creates a liability not just on bribe taker but also on bribe giver highlights Dr. Jitendra Singh

    Posted On: 06 FEB 2025 3:42PM by PIB Delhi

    Union Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singhreiterates government’s commitment to “Zero Tolerance Against Corruption” and highlights various steps taken to curb it while answering to an unstarred question in Rajya Sabha, today.

    The Minister of State for DoPT, Dr. Jitendra Singh highlighted the steps undertaken by the government as mentioned below-

    i. Systemic improvements and reforms to provide transparent citizen-friendly services and reduce corruption. These, inter alia, include: a) Disbursement of welfare benefits directly to the citizens under various schemes of the Government in a transparent manner through the Direct Benefit Transfer initiative. b) Implementation of E-tendering in public procurements. c) Introduction of e-Governance and simplification of procedure and systems. d) Introduction of Government procurement through the Government eMarketplace (GeM).

     ii. Discontinuation of interviews in recruitment of Group ‘B’ (Non-Gazetted) and Group ‘C’ posts in Government of India.

     iii. Invocation of FR-56(j) and AIS(DCRB) Rules, 1958 for retiring officials from service in public interest whose performance has been reviewed and found unsatisfactory.

     iv. The All India Services (Disciplinary and Appeal) Rules and Central Civil Services (Classification, Control and Appeal) Rules have been amended to provide for specific timelines in the procedure related to disciplinary proceedings.

    v. The Prevention of Corruption Act, 1988 has been amended on 26.07.2018. It clearly criminalizes the act of giving bribe and will help check big ticket corruption by creating a vicarious liability in respect of senior management of commercial organizations.

    vi. Central Vigilance Commission (CVC), through various orders and circulars recommended adoption of Integrity Pact to all the organizations in major procurement activities and to ensure effective and expeditious investigation wherever any irregularity/misconduct is noticed.

    vii. The institution of Lokpal has been operationalised by appointment of Chairperson and Members. Lokpal is statutorily mandated to directly receive and process complaints as regards alleged offences against public servants under the Prevention of Corruption Act, 1988. In addition, the CVC as an apex integrity institution has adopted a multi-pronged strategy and approach to combat corruption, which encompasses punitive, preventive and participative vigilance.

    (c): The Whistle Blowers Protection Act, 2014 (No. 17 of 2014) has been notified on 12th May 2014. In terms of provision of sub-section (3) of section 1 of the Act, the provisions of the Act shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint. No such notification has been made by the Government for the reason that the Act required amendments aimed at safeguarding against disclosures affecting sovereignty and integrity of India, Security of the State, etc., before it is brought into force. The government introduced the Whistle Blowers Protection (Amendment) Bill, 2015 in the Lok Sabha on 11th May 2015 which was passed by the Lok Sabha on 13th May 2015 and transmitted to the Rajya Sabha. The Bill has since lapsed upon the dissolution of the Sixteenth Lok Sabha.

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Parliament Question: Steps To Bring More Area Under Green Cover

    Source: Government of India

    Ministry of Environment, Forest and Climate Change

    Parliament Question: Steps To Bring More Area Under Green Cover

    Posted On: 06 FEB 2025 3:38PM by PIB Delhi

    The National Forest Policy (NFP) 1988 envisages the national goal to have a minimum of one-third of the total land area under forest or tree cover and two-thirds of the area under such cover in the hill and mountainous regions of the country.

    As per latest India State of Forest Report (ISFR) – 2023 published by Forest Survey of India (FSI), Dehradun, the total tree and forest cover of the country is 8,27,356.95 square kilometre which is 25.15% of the geographical area of the country. The tree and forest cover of the country has increased by 1445.81 square kilometre as compared with the previous assessment report of ISFR 2021.

    The State-wise details of India’s geographical area under tree and forest cover, as per ISFR 2023, is given below:

    (Area in sq. Km.)

    State/UTs

    Geographical

    Area

    Forest Cover

    Tree Cover

    Total Forest Cover including Tree Cover

    Andhra Pradesh

    1,62,922.57

    30,084.96

    5,340.02

    35,424.98

    Arunachal Pradesh

    83,743.22

    65,881.57

    1,201.63

    67,083.20

    Assam

    78,438.00

    28,313.55

    2,101.46

    30,415.01

    Bihar

    94,163.00

    7,532.45

    2,370.21

    9,902.66

    Chhattisgarh

    1,35,192.00

    55,811.75

    6,538.70

    62,350.45

    Delhi

    1,483.00

    195.28

    176.03

    371.31

    Goa

    3,702.00

    2,265.72

    257.82

    2,523.54

    Gujarat

    1,96,244.00

    15,016.64

    6,632.29

    21,648.93

    Haryana

    44,212.00

    1,614.26

    1,693.02

    3,307.28

    Himachal Pradesh

    55,673.00

    15,580.35

    855.07

    16,435.42

    Jharkhand

    79,716.00

    23,765.78

    3,637.55

    27,403.33

    Karnataka

    1,91,791.00

    39,254.27

    7,779.15

    47,033.42

    Kerala

    38,852.00

    22,059.36

    2,905.94

    24,965.30

    Madhya Pradesh

    3,08,252.11

    77,073.44

    8,650.14

    85,723.58

    Maharashtra

    3,07,713.00

    50,858.53

    14,524.88

    65,383.41

    Manipur

    22,327.00

    16,585.46

    209.82

    16,795.28

    Meghalaya

    22,429.00

    16,966.84

    720.56

    17,687.40

    Mizoram

    21,081.00

    17,990.46

    567.80

    18,558.26

    Nagaland

    16,579.00

    12,222.47

    394.02

    12,616.49

    Odisha

    1,55,707.00

    52,433.56

    6,163.45

    58,597.01

    Punjab

    50,362.00

    1,846.09

    1,475.15

    3,321.24

    Rajasthan

    3,42,238.99

    16,548.21

    10,841.12

    27,389.33

    Sikkim

    7,096.00

    3,358.40

    48.33

    3,406.73

    Tamil Nadu

    1,30,060.00

    26,450.22

    5,370.72

    31,820.94

    Telangana

    1,12,122.44

    21,179.04

    3,517.66

    24,696.70

    Tripura

    10,486.00

    7,584.77

    247.56

    7,832.33

    Uttar Pradesh

    2,40,927.56

    15,045.80

    8,950.92

    23,996.72

    Uttarakhand

    53,483.36

    24,303.83

    1,231.14

    25,534.97

    West Bengal

    88,752.00

    16,832.33

    2,938.12

    19,770.45

    A&N Islands

    8,249.00

    6,732.92

    26.97

    6,759.89

    Chandigarh

    114.00

    25.00

    21.18

    46.18

    Dadra & Nagar

    Haveli and Daman & Diu

     

    602.00

     

    225.62

     

    36.83

     

    262.45

    Jammu & Kashmir

    2,22,236.00

    21,346.39

    3,666.97

    25,013.36

    Ladakh

    2,285.92

    893.02

    3,178.94

    Lakshadweep

    29.63

    27.06

    0.20

    27.26

    Puducherry

    490.00

    44.31

    28.89

    73.20

    Total

    32,87,468.88

    7,15,342.61

    1,12,014.34

    8,27,356.95

     

    The protection and management of forests is primarily the responsibility of the State Government. The Government has formulated adequate legal and regulatory frameworks at national and state levels, which regulate the protection, conservation, and management of the forests of the country. The major central level policy and legislations concerning the management and conservation of forests include the National Forest Policy, 1988, Indian Forest Act, 1927, Wildlife (Protection) Act, 1972, Van (Sanrakshan Evam Samvardhan) Adhiniyam 1980, and Biological Diversity Act, 2002, etc.

    To bring more areas under green cover, the Government is implementing various schemes such as such as National Mission for a Green India (GIM), Integrated Development of Wildlife Habitats, Compensatory Afforestation Fund Management and Planning Authority (CAMPA), Nagar Van Yojana (NVY) and Mangrove Initiative for Shoreline Habitats & Tangible Incomes (MISHTI). The schemes primarily support ecological restoration through afforestation in and outside forest areas, forest landscape restoration, habitat improvement, soil and water conservation measures and protection etc.

    The tree plantation campaign “Ek Ped Maa Ke Naam” was launched by Hon’ble Prime Minister on 5th June 2024 to undertake plantation activities across the country.

    This information was provided by UNION MINISTER OF STATE FOR ENVIRONMENT, FOREST AND CLIMATE CHANGE, SHRI KIRTI VARDHAN SINGH, in a written reply to a question in Rajya Sabha today.

    *****

     

    VM

    (Rajya Sabha US Q367)

    (Release ID: 2100254)

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: MEASURES TO COMBAT TELECOM-RELATED FRAUDS

    Source: Government of India (2)

    Posted On: 06 FEB 2025 3:12PM by PIB Delhi

    Department of Telecommunications (DoT) has undertaken following measures to protect citizens and prevent misuse of telecom resources for cybercrime & financial frauds:

    1. Developed a system to detect suspected mobile connections obtained on fake / forged documents and directed Telecom Service Providers (TSPs) for reverification.

     

    1. Launched a citizen centric initiative Sanchar Saathi to empower mobile subscribers, strengthen their security and increase awareness. It is available in the form of web portal (https://sancharsaathi.gov.in) and Mobile App. Sanchar Saathi, inter-alia, facilitates citizens to:

    1. report suspected fraud and unsolicited commercial communications

    2. know the mobile connections issued in their name and report the mobile connections which are either not required or not taken by them

    3. report the stolen / lost mobile handset for blocking and tracing

    4. know the genuineness of mobile handset

     

    1. Launched Digital Intelligence Platform (DIP) for sharing of information related to misuse of telecom resources with stakeholders for prevention of cyber-crime and financial frauds. At present, 540 organization including banks and financial institutions, Reserve Bank of India (RBI), State/UT Police, Security agencies, Indian Cybercrime Coordination Centre (I4C), TSPs etc. have on-boarded the platform.

     

    1. DoT and TSPs have devised a system to identify and block incoming international spoofed calls displaying Indian mobile numbers that appear to be originating from within India. Such international spoofed calls have been made by cyber-criminals in recent cases of fake digital arrests, FedEx scams, drugs/narcotics in courier, impersonation as government and police officials, disconnections of mobile numbers by DoT/TRAI officials, etc.

     

    Further, Ministry of Home Affairs has also launched the National Cyber Crime Reporting Portal (https://cybercrime.gov.in) to enable the public to report all types of cyber crimes.

    DoT has notified Telecom Cyber Security Rules and Critical Telecommunication Infrastructure Rules on 21.11.2024 and 22.11.2024 respectively under section 22 of the telecommunications Act, 2023 for security of the telecommunication infrastructure. DoT has set up a Telecom Security Operation Centre (TSOC), for detecting potential cyber- threats to Indian telecom network and providing alerts to stakeholders for necessary actions. DoT is engaging with citizens and making them aware of telecom related frauds & scams through social media and regular press releases.

    This information was given by the Minister of State for Communications, Dr. Pemmasani Chandra Sekhar in a written reply to a question in Rajya Sabha today.

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  • MIL-OSI Asia-Pac: DEPARTMENT OF POSTS TAKES STEPS TO IMPROVE OPERATIONAL EFFICIENCY AND EXPAND SERVICE OFFERINGS

    Source: Government of India (2)

    Posted On: 06 FEB 2025 3:08PM by PIB Delhi

    The Department of Posts has taken numerous steps to improve operational efficiency, incorporate technology, and expand service offerings. Below are the details:

    1. Improved Parcel Services:
      • Nodal Delivery Centers: 233 Nodal Delivery Centers have been established for faster and more efficient parcel delivery, covering over 1600 PIN codes. These centers handle approximately 30% of daily parcel deliveries.
      • Parcel Hubs: A network of 190 Parcel Hubs (Level-1 and Level-2) has been set up to facilitate faster processing and secure handling of parcels.
      • Technology Integration: Advanced tracking systems have been implemented, including real-time delivery status, API integration, system-assisted sorting, and error management systems.
      • Parcel Packaging Policy: 1408 Parcel Packaging Units are operational across the country, providing high-quality packaging materials for secure parcel transit.
      • Smart Booking and Delivery Kiosks: 30 Smart Parcel Delivery Kiosks and 30 Self Booking Kiosks have been installed in various cities to enable flexible pickup and delivery options for customers.
    2. DakGharNiryatKendras (DNKs): In coordination with Central Board of Indirect Taxes and Customs (CBIC), 1013 DNKs have been established to facilitate e-commerce exports, offering services such as self-booking, label generation, and export documentation.
      • These DNKs provide valuable support to small exporters, including artisans and self-help groups from rural areas.
    3. Core Banking and Digital Services:
      • All Post Offices are integrated with a Core Banking Solution offering a variety of services including ATMs, Internet Banking, Mobile Banking, NEFT/RTGS, Electronic Clearing Services (ECS), and e-KYC for smooth digital transactions.
      • India Post Payments Bank offers digital payment services linked to Post Office Savings Accounts.
    4. Expanded Services by the Business Development Directorate:
      • Post Office Passport Seva Kendra (POPSK): Post Offices are now offering passport services to citizens across the country.
      • AadhaarEnrollment and UpdationCenters: To provide Aadhaar services even in remote areas.
      • Verification of Prime Minister Employment Generation Program (PMEGP) Units: Post Offices assist in the verification process for government subsidy schemes like PMEGP.
      • E-Post & E-Payment: These services provide electronic message transmission and bill payment collection, respectively, further enhancing the Post’s service offerings.
    5. Retail and Specialized Services:
      • Gangajal and Holy Prasadam: Post Offices are involved in the distribution of Gangajal and delivery of Prasadam, providing a unique religious service to customers.
      • Media Post and Direct Post: For business communication, Post Offices facilitate Media Post services (advertisements through postal mediums) and Direct Post for targeted advertising.
      • India Post Passenger Reservation System (IP-PRS): Identified Post Offices have been equipped to offer railway ticket reservations, thus expanding their utility to the public.

    This information was given by the Minister of State for Communications, Dr. Pemmasani Chandra Sekhar in a written reply to a question in Rajya Sabha today.

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  • MIL-OSI Asia-Pac: Delhi International Leather Expo (DILEX) 2025 to be held on 20-21st February at Yashobhoomi

    Source: Government of India (2)

    Delhi International Leather Expo (DILEX) 2025 to be held on 20-21st February at Yashobhoomi

    DILEX to enhance exports and employment aligning with ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives

    Council for Leather Exports targets $47 bn by 2030, with special focus on footwear & leather exports

    Posted On: 06 FEB 2025 2:23PM by PIB Delhi

    The Council for Leather Exports (CLE) is going to organise the Delhi International Leather Expo (DILEX) 2025, on 20-21st February at Yashobhoomi, ICC Dwarka, New Delhi. DILEX is a premier B2B event designed to provide a robust platform for manufacturers and exporters to showcase their latest collections, innovations, and capabilities to international buyers seeking viable sourcing alternatives. Aligning with the “Make in India” and Atmanirbhar Bharat initiatives, DILEX 2025 is set to enhance exports, create employment, and fortify India’s presence in global markets.

    The government has implemented several reforms to boost trade and industry. The Basic Customs Duty (BCD) on wet blue leather has been reduced from 10% to zero, effective 2nd February 2025, addressing a key industry demand, while export duty on crust leather has been eliminated. Additionally, a Special Package has been introduced to support manufacturing and exports, particularly in the footwear sector, along with a Focus Product Scheme aimed at improving productivity, quality, and competitiveness, generating a turnover of ₹4 lakh crore and exports of ₹1.1 lakh crore, and creating 22 lakh jobs.

    To support MSMEs, investment and turnover classification limits have been increased, and credit guarantee coverage for micro and small enterprises has been doubled to ₹10 crore, unlocking an additional ₹1.5 lakh crore in credit over five years. Custom financial assistance, including customized credit cards for micro-enterprises and support for SC/ST women entrepreneurs, will further promote inclusive growth. An Export Promotion Mission will also be launched with sectoral and ministerial targets, while BharatTradeNet (BTN), a unified platform for trade documentation and financing, will be established to streamline international trade.

    The Council for Leather Exports (CLE) expresses its gratitude to the Prime Minister Shri Narendra Modi, Finance Minister Smt. Nirmala Sitharaman, and the Ministry of Commerce & Industry for their unwavering support to the leather sector. CLE remains dedicated to promoting industry expansion, fostering job creation, and strengthening India’s footprint in global trade.

    Budget announcement comes at a pivotal moment for India’s leather and footwear sector, which is rapidly evolving into a global manufacturing and sourcing hub under the visionary “Make in India” and “Atamnirbhar Bharat” initiatives. CLE has also worked out a target of USD 47 billion by 2030. Out of which USD 13.7 bn is for export sector, conveyed said Shri Rajendra Kumar Jalan, Chairman, Council for Leather Exports.

    “The government’s proactive stance in addressing industry concerns—particularly the duty reductions and financial support for MSMEs—will be instrumental in elevating India’s leather sector to global prominence. CLE remains committed to driving sustainable growth and global competitiveness.” informed Shri Rajendra K. Jalan.

    “The Union Budget 2025 has delivered a much-needed boost to the leather and footwear sector by enhancing credit access, rationalizing duties, and maintaining key policy frameworks. The industry is poised for significant growth with the newly introduced special package and export-oriented incentives.” said Shri Vimal Anand, Joint Secretary.

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    Abhishek Dayal/Abhijith Narayanan/Asmitabha Manna

    (Release ID: 2100219) Visitor Counter : 6

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: EPFO Achieves Historic Milestone of Settling Over 5 Crore Claims in FY 2024-25: Dr. Mansukh Mandaviya

    Source: Government of India

    EPFO Achieves Historic Milestone of Settling Over 5 Crore Claims in FY 2024-25: Dr. Mansukh Mandaviya

    Auto Claim Settlements Doubles to 1.87 Crore Claims in FY 2024-25 Compared to 89.52 Lakh Claims in FY 2023-24

    97.18% of Member Profile Corrections Have Been Self-Approved By Members

    Only 8% of Transfer Claims Now Require Member and Employer Attestation

    Posted On: 06 FEB 2025 4:46PM by PIB Delhi

    Union Minister of Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya, today announced that the Employees’ Provident Fund Organisation (EPFO) has achieved a historic milestone by crossing the 5 crore claims settlement mark for the first time in its history. In the financial year 2024-25, EPFO has processed over 5.08 crore claims amounting to Rs. 2,05,932.49 crore, surpassing the 4.45 crore claims worth Rs. 1,82,838.28 crore settled in the previous financial year 2023-24.

    Dr. Mandaviya highlighted that this remarkable achievement has been made possible due to a series of transformative reforms initiated by EPFO to enhance claim settlement processes and reduce grievances among members. “We have implemented key measures, including an increase in the ceiling and categories of auto-settled claims, simplified member profile changes, streamlined PF transfers, and improved KYC compliance ratios. These reforms have significantly improved the efficiency of EPFO,” he stated.

    A major enabler for faster claim processing has been the auto-claim settlement mechanism, ensuring that claims are settled within three days of submission. Dr. Mandaviya noted that the impact of this reform is evident, with auto claim settlements doubling to 1.87 crore claims in the current financial year, compared to 89.52 lakh auto claims processed during the entire FY 2023-24.

    Similarly, reforms in the PF transfer claim submission process have streamlined the workflow significantly. Since the introduction of a simplified transfer claim application, only 8% of transfer claims now require member and employer attestation. Notably, 48% of claims are submitted directly by members without employer intervention, while 44% of transfer requests are generated automatically.

    Dr. Mandaviya further emphasized the impact of member profile correction reforms. “Since the introduction of the simplified procedure, approximately 97.18% of member profile corrections have been self-approved by members, with only 1% requiring employer approval, and office intervention has been reduced to just 0.4%. Further, the rejection cases have dropped to 1.11% by the employer and 0.21% by the regional office, reflecting the effectiveness of the streamlined processes and reduced procedural bottlenecks in claim settlements”, Union Minister stated.

    Reaffirming the government’s commitment to enhancing ease of access for EPFO members, Dr. Mandaviya underscored that the organization will continue to leverage technology and process simplification to ensure a seamless and efficient service experience. “These reforms have not only accelerated the claim settlement process but have also contributed to minimizing member grievances, further strengthening trust in EPFO,” he added.

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    Himanshu Pathak

    (Release ID: 2100310) Visitor Counter : 36

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Minister Jyotiraditya Scindia inaugurates North East Investment Roadshow in Chennai

    Source: Government of India (2)

    Union Minister Jyotiraditya Scindia inaugurates North East Investment Roadshow in Chennai

    Minister Scindia invites Chennai to join the transformative journey of the ‘Ashtalakshmi’ region as it charts its path to becoming a leading engine of India’s growth.

    The roadshow hosted by Ministry of Development of North Eastern Region aims to attract investment for the development of North East India.

    Posted On: 06 FEB 2025 9:29AM by PIB Delhi

    The Ministry of Development of North Eastern Region (MDoNER) hosted the North East Trade and Investment Roadshow in Chennai today. The roadshow evoked strong interest from potential investors who are eager to explore opportunities in the North Eastern States. The event was attended by the Hon’ble Minister, Ministry of Development of North Eastern Region & Ministry of Communications, Shri Jyotiraditya M. Scindia, alongwith Pu Lalnghinglova Hmar, Hon’ble Minister of Sports & Youth Services, Government of Mizoram, senior officials from MDoNER, North Eastern Council and North Eastern States.

    Hon’ble Minister, MDoNER mentioned that Hon’ble Prime Minister emphasized North East as India’s Asthalakshmi, a key economic asset poised for rapid industrialization. He highlighted the major development initiatives in the infrastructure sector that have taken place in the North Eastern Region under the leadership of Hon’ble Prime Minister during the last 10 years, inter-alia, including expanding air, road and rail connectivity, waterways etc. Hon’ble Minister MDoNER stated that each of the eight states of the North East embodies unique strengths, resources and opportunities, making this region an invaluable asset in India’s growth story. From its rich cultural diversity to its natural beauty and strategic location, the North Eastern Region holds immense potential to emerge as one of the country’s leading economic powerhouses. Its proximity to Southeast Asia also positions the North Eastern Region as a gateway to South East Asian countries, aligning perfectly with India’s Act East Policy. He also highlighted the potential of North Eastern States in various sectors such as Tourism & hospitality, Agri and allied industries, healthcare, entertainment & sports, infrastructure & logistics, IT & ITeS, Textiles, Handloom & Handicrafts, energy etc. He assured investors that the region’s youth, high literacy rates, and abundant natural resources make it an ideal destination for investment. Hon’ble Minister expressed his admiration for Chennai, calling it a “thriving IT powerhouse and a cradle of economic growth for India”. He acknowledged the city’s rich heritage, cutting-edge technology, and robust industrial ecosystem, drawing parallels between Chennai’s potential and North East India’s emerging economic landscape. Highlighting the North East India’s strengths in agriculture, food processing, tourism, and manufacturing, he urged Chennai’s entrepreneurs to invest in these sectors. He also underlined that North East holds 38% of India’s bamboo resources which offers great opportunity to furniture industry of Chennai. Further, the large untapped hydrocarbon reserves and hydropower generation potential of the North Eastern Region waiting to be harnessed. In his concluding remarks he invited investors to the North Eastern Region and play a key role in shaping the future of the region.

    Hon’ble Minister of Sports & Youth Services, Govt. of Mizoram in his address highlighted Mizoram’s immense investment opportunities despite being a small state with a population of just 11 lakh. He stated that with 55% of its land under horticulture, Mizoram produces GI-tagged ginger and chillies, along with mandarin oranges, papaya, and dragon fruit, offering significant potential in agriculture and food processing. The State is rich in bamboo cultivation, which still remains largely untapped. He also underlined that Mizoram is also positioning itself as a sports powerhouse and is aligned with India’s 2036 Olympic vision. Mizoram has also produced top sportspersons, therefore, the sports sector has great potential for investment. He also urged investors to explore other sectors such as tourism, infrastructure, food processing etc. for investment in the State of Mizoram.

    Shri Chanchal Kumar, Secretary, MDoNER in his address highlighted the immense investment potential of the North East, calling it a hub of innovation, cultural heritage, and economic opportunity. With breathtaking landscapes and a thriving tourism sector, the region has become increasingly attractive for investors. He highlighted that over the last 10 years, connectivity of the region has been transformed whether it is road, rail, air, water, and digital. The region’s economic growth has outpaced the national average, making it an ideal destination for businesses. Further, the North Eastern States have tailored, attractive policies aligned with the Central Government to encourage investment. He informed that Government has identified eight tourism sites to be developed as model tourist destinations across each of the North Eastern States through PPP mode.  He also underlined that IT & ITeS sector is growing faster in the North Eastern Region. Further, the agriculture and allied sectors offers unique products with immense economic potential. He stated that UNNATI scheme launched by Government of India provides attractive incentives for investment in the North Eastern Region. He also mentioned that with trilateral highways and the Kaladan project, the North East is set to become a key hub for medical tourism, catering to over 60 million people from neighbouring countries. The single-window system across the North Eastern States ensures ease of doing business. He urged the investors to visit, explore, and partner in North East India’s transformation.

    Shri Shantanu, Joint Secretary, MDoNER, in his address on advantage North East and Opportunities for Investment and Trade emphasized that North Eastern Region has rich untapped potential. He informed that during the last 10 years there is a remarkable improvement in connectivity to the North Eastern Region whether it’s air, rail, road or waterways. Over the past decade, the government has successfully completed numerous pending projects, benefiting local communities and millions of people through various schemes/initiatives. He stated that North East Region’s enabling infrastructure, strategic connectivity, higher working age population and an english-speaking workforce, makes it ideal for businesses targeting Southeast Asian markets.  He also highlighted the opportunities in the region in various sectors like IT & ITES, Healthcare, Agri and allied, Education & Skill Development, Sports & Entertainment, Tourism & Hospitality, Infrastructure and logistics; Textiles, Handlooms and Handicrafts and Energy. He stated that with ample opportunities across multiple sectors, North East India welcomes investors to explore its vast potential and be part of its growth journey.

    The representative of Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce & Industry, gave a detailed presentation on the UNNATI Scheme, providing attendees with a comprehensive understanding of its benefits and associated incentives. He underlined that the UNNATI Scheme aims to boost industrialisation and economic growth in North East India. The scheme offers incentives to attract investors and manufacturing companies, supports the ‘Act East Policy,’ and promotes domestic manufacturing and services to reduce import dependence and enhance exports.

    Senior officials representing the North Eastern States shared actionable insights about the emerging opportunities across various sectors. The Chennai roadshow drew strong participation from industry leaders, further reinforcing the investment appeal of North East India. The event also featured several B2G meetings, providing investors with a platform to discuss their investment plans in the North Eastern Region.

    The Chennai roadshow concluded on a positive note, with participants expressing keen interest in exploring collaborative ventures in the North Eastern Region. The event not only fostered meaningful dialogue but also laid the groundwork for future partnerships, driving economic growth and sustainable development in the region. The event marked another milestone in a series of successful roadshows across India and showcased the untapped potential of North East India.

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    Samrat/Dheeraj

    donerpib[at]gmail[dot]com

    (Release ID: 2100164) Visitor Counter : 322

    MIL OSI Asia Pacific News –