Category: Scandinavia

  • MIL-OSI: Nokia deployments with majority of world’s largest IXPs reflect push for scale, reliability and automation

    Source: GlobeNewswire (MIL-OSI)

    Press release
    Nokia deployments with majority of world’s largest IXPs reflect push for scale, reliability and automation

    • Six of the world’s 10 largest IXPs have deployed Nokia networking infrastructure and cumulatively carry close to 45 Tbps of traffic during peak times
    • Performance at scale, security and AI-enhanced operations of Nokia IP, optical and DDoS solutions support buildouts of massive cloud networks
    • Stunning growth of regional clouds driven by unprecedented latency, security and bandwidth pressures as global digital economy flourishes

    30 Sept 2024
    Espoo, Finland: Nokia today reaffirmed its leadership and commitment to the global Internet Exchange market as it continues to work with more than 20 Internet Exchange Providers (IXPs), including six of the world’s 10 largest based on both peak traffic and number of members. As the local interconnection points for more than 5,000 member organizations, these six IXPs cumulatively transport close to 45 Tbps of traffic during peak times – a figure that’s set to grow as the Equinix Global Interconnection Index (GXI) 2024 predicts a stunning 34% five-year CAGR in interconnection bandwidth.

    The expanding digital economy, proliferation of edge compute, and anticipated move of latency-sensitive AI models to regional clouds for local consumption are contributing to the need for what the GXI calls an Interconnection Oriented Architecture® (IOA). According to the GXI 2024 report, “The economics of data, density, velocity and experience demand localized exchange to move the highest volumes of data with the lowest latency to dense clusters of participants and population centers.”

    Built to handle these current and future pressures, the characteristics of the Nokia IP, optical and security solutions align to those identified in the IOA and are central to why the Nokia portfolio has increasingly become the dominant choice of leading IXPs.

    The Nokia FP5 800GE technology, deployed by leading European IXPs including Germany’s DE-CIX and the Netherlands’ NL-ix , provides the fastest possible performance in the industry and is realizing dramatic sustainability gains. Since deploying this technology, NL-ix has shown a reduction in power consumption from 0.8 watts to 0.1 watts per gigabit in parts of its network.

    Thomas King, CTO at DE-CIX, said: “Nokia’s 800GE technology gives us the considerable runway needed to address future traffic growth in a cost- and energy-efficient way. 800GE optics consume the least amount of space and power per bit, and at the same time it provides the most headroom for traffic peaks of the future.”

    Nokia has also played a leadership role in the standardization of Ethernet Virtual Private Networks (EVPNs). With industry-leading functionality and scalability, the SROS implementation of EVPN provides IXPs an ideal toolset to manage the increase in traffic. When Telehouse America selected Nokia to upgrade its NYIIX peering exchange infrastructure in the US, it deployed the Nokia EVPN solution to resolve multiple technical challenges.

    Akio Sugeno, Vice President of Telehouse and founder of NYIIX, said: “EVPN is a game changer for us. It is a next-generation VPN solution that provides a unified architecture, in both the control and data planes, and solved many of our requirements. With our new EVPN implementation from Nokia we police and control broadcast, unknown-unicast and multicast traffic entering our network while also rate-limiting ARP requests, so they do not flood our network. With this same protocol, we are also able to implement load balancing techniques between our edge and the customer’s network to increase resiliency and network availability. Finally, with EVPN’s auto-configuration capabilities we can simplify operational complexity across the entire lifecycle of our VPNs.”

    Additionally, the virulent rise in cybercrime has made anti-DDoS solutions critical. Nokia partnered with NL-ix for an industry-first deployment of an anti-DDoS solution that performs mitigation directly on the router, avoiding dedicated scrubbing centers that would push up transport costs and impact latency. Nokia’s AI-enhanced Deepfield Defender actively detects DDoS attacks and then instructs Nokia’s FP5 silicon to block those packet flows without any impact on other router traffic.

    Jan Hoogenboom, Founder and Chief Vision Officer at NL-ix, said: “With this innovative anti-DDoS solution from Nokia we can provide our customers with security across their entire area of operations as we pursue our goal of zero enterprise downtime. We are now a one-stop-shop for Europe-wide connectivity and security, saving our customers the hassle of working with multiple parties or making complex arrangements to be protected by a third party.”

    Vach Kompella, Senior Vice President and General Manager of IP Networks business at Nokia, said: “As the nerve centers of the Internet, the world’s largest IXPs are host to every type of traffic and customer, and in response they have reset expectations around networking innovation – driving the highest levels of uptime, reliability and security with Nokia solutions. We are proud to be the leading provider of networking infrastructure solutions for these critical organizations.”  

    Nokia has won contracts with 23 IXPs, and has publicly announced wins with Telehouse NYIIX, NL-ix, LINX, LINX NoVa, BIX, DE-CIX, France-ix, ESpanix, LINX Nairobi, TOP-ix and TREX.

    Resources and additional information 
    Webpage: 7750 Service Router | Nokia
    Webpage: FP5 network processor | Nokia
    Webpage: Optical networks | Nokia
    Webpage: Deepfield Defender | Nokia

    About Nokia 
    At Nokia, we create technology that helps the world act together. 

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.  

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    # # #

    Media inquiries
    Nokia, Corporate Communications
    Email: Press.Services@nokia.com

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    The MIL Network

  • MIL-OSI: Internet exchange giant NIC.br selects Nokia to boost internet connectivity in Brazil

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    Internet exchange giant NIC.br selects Nokia to boost internet connectivity in Brazil

    • Largest Internet Exchange Provider (IXP) in the world upgrading network to manage skyrocketing internet and traffic growth over next five years
    • NIC.br to scale network capacity, improve resiliency and increase automation, resulting in more advanced services for customers
    • Nokia to deploy IP routing technology, designed to handle world’s most demanding traffic environments, supporting Ethernet VPN (EVPN) services and 400/800G interfaces

    30 September 2024

    Espoo, Finland – Nokia announced it has been selected by the Brazilian Network Information Center (NIC.br), the largest IXP operator in the world, to increase the performance and reliability of Brazil’s internet infrastructure. Nokia’s cutting-edge IP routing solutions will support NIC.br’s mission of interconnecting the Brazilian Internet ecosystem and enable its expansion and reliability. The network upgrade comes as the country faces massive internet data traffic growth that is expected to reach 218.5 million users and over 50 terabits per second (Tb/s) in the next five years.

    NIC.br is responsible for, among several initiatives, registering and maintaining .br domain, as well as operating the Brazilian Internet Exchange (IX.br), which connects more than 3,500 Autonomous Systems (AS) and facilitates data traffic among internet service providers, content providers, hosting services, hyperscalers and other network operators. With Nokia’s IP routing technology, NIC.br is able to scale up its network capacity, improve its resiliency and availability, and vastly improve automation, resulting in a better customer experience.

    NIC.br will replace part of its existing technology with the Nokia 7250 Interconnect Router (IXR) and 7750 Service Router (SR) which support EVPN services and 400/800G interfaces. Nokia is an industry leader in standardizing and expanding the EVPN protocol. EVPN is a next-gen VPN solution that provides a unified architecture, in both the control and data planes, and supports a broad range of carrier and business VPN services and network infrastructures. EVPN delivers a variety of benefits to service providers and their customers, including greater network efficiency, reliability, scalability, and simplifies infrastructures with advanced automation.

    Julio Sirota, IX.br Infrastructure Manager at NIC.br, said: “Nokia is a trusted and strategic partner for us, as they have proven their ability to deliver state-of-the-art network solutions that match our needs and expectations. By upgrading our network infrastructure with Nokia’s routing platforms, we will be able to provide faster and more reliable internet connectivity for our customers and partners, as well as foster the development of new applications and services that will benefit the entire Brazilian society.”

    Vach Kompella, Senior Vice President and General Manager of IP Networks business at Nokia, said: “Internet exchange giants like IX.br from NIC.br are on the front lines for managing unrelenting internet and data traffic growth spurred by hyperscalers, ISPs, content providers and network operators. Keeping up with Brazil’s skyrocketing growth means increases in network capacity, reliability, and automation are critical to NIC.br’s network upgrade. Nokia’s routing solutions are designed to handle the world’s most demanding traffic environments and enable the delivery of high-quality services, like EVPN. We are delighted to work with NIC.br to help them scale, connect and empower the Brazilian internet ecosystem.”

    Resources and additional information
    Webpage: Nokia 7250 Interconnect Router
    Webpage: Nokia 7750 Service Router
    Webpage: Nokia Ethernet VPN

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future. 

    About the Brazilian Network Information Center – NIC.br

    The Brazilian Network Information Center – NIC.br (https://nic.br/) is a non-profit entity that is in charge of the operations related to the .br domain, as well as the allocation of IP numbers and the registration of autonomous systems in the country. NIC.br has been implementing decisions and projects of the Brazilian Internet Steering Committee – CGI.br since 2005. All the funds that are collected come from its entirely private activities. It takes actions and conducts projects that are of benefit to the infrastructure of the Internet in Brazil. Also part of NIC.br are: Registro.br (https://registro.br), CERT.br (https://cert.br/), Ceptro.br (https://ceptro.br/), Cetic.br (https://cetic.br/), IX.br (https://ix.br/), and Ceweb.br (https://ceweb.br), in addition to projects like Internetsegura.br (https://internetsegura.br) and the portal Best Practices for the Internet in Brazil (https://bcp.nic.br/). It also houses the office of the W3C Chapter São Paulo (https://w3c.br/).

    Media inquiries

    Nokia Communications
    Email: Press.Services@nokia.com

    NIC.br Communications
    imprensanic@webershandwick.com

    Follow Nokia on social media
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    The MIL Network

  • MIL-OSI Europe: Third Meeting of the Interagency Steering Committee on Combating Cybercrime in Kazakhstan

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: Third Meeting of the Interagency Steering Committee on Combating Cybercrime in Kazakhstan

    Third Meeting of the Interagency Steering Committee on Combating Cybercrime in Kazakhstan, Astana, 18 September 2024 (OSCE/Akbota Sarzhanova) Photo details

    On 18 September 2024, the OSCE Programme Office in Astana held the third and final meeting of the Interagency Steering Committee on the development of Kazakhstan’s first Comprehensive Action Plan to Counter Cybercrimes and Crimes using Information and Communication Technologies for 2025-2029 (hereinafter, Action Plan). The initiative is part of the extrabudgetary project “Supporting the Republic of Kazakhstan in the Development of Effective Policies to Counter Cybercrimes (Phase I)”, implemented by the Office in co-operation with the Ministry of Interior of Kazakhstan, and with the support of the Presidential Administration of Kazakhstan.
    The meeting brought together over 80 representatives from law enforcement and government agencies, including representatives from 20 police departments, leading national and international experts in combating cybercrime, as well as representatives from the private sector. Discussions focused on finalizing the draft of the Action Plan, refining the plan’s activities, and determining the methods and timelines for implementation.
    Dr. Volker Frobarth, Head of the OSCE Programme Office in Astana, addressed the meeting, stating, “I would like to extend my gratitude to our key partner, the Ministry of Interior. Your staff are on the front lines of the daily fight against cybercrime. We recognize the significant challenges they face in investigating these crimes and bringing offenders to justice. Rest assured, both as an organization and as the Office, we are committed to providing full support to your Ministry in advancing initiatives aimed at combating cybercrime.”
    This expert-level meeting builds on the progress made during the first and second meetings in this format, where participants reviewed key findings and recommendations for improving the country’s ability to combat cybercrime, based on the analysis of the current situation in Kazakhstan and the international experience of OSCE and OECD countries in effectively combating cybercrime. Special attention was paid to discussing mechanisms and methods to increase the effectiveness of countering new challenges and threats, improving the cybercrime prevention system, and ensuring respect for human rights and freedoms throughout the project’s implementation.
    Deputy  Minister of the Interior, Aidos Rysbaev, noted the importance of this collaborative effort, stating, “Since last year, we have launched a joint initiative with the OSCE Programme Office in Astana and other government agencies to develop effective policies for combating cybercrime. The Interagency Steering Committee has been established under the Ministry of Interior, and a draft Action Plan is already in place.”
    A key outcome of the meeting was the recognition of the need to strengthen and expand international co-operation, establish mechanisms for interagency interaction, and enhance partnerships within a “whole-of-society” approach, thereby improving the effectiveness of identifying, investigating, preventing, and mitigating cybercrimes.
    The extrabudgetary project is supported by the governments of the Federal Republic of Germany and the Kingdom of Norway, and aligns with Kazakhstan’s ongoing efforts to join the Budapest Convention on Cybercrime. As Kazakhstan advances its cybercrime policies, the Action Plan will serve as a vital roadmap, ensuring the country is well-equipped to navigate the escalating challenges of the digital age.

    MIL OSI Europe News

  • MIL-OSI Economics: The amount of student loan available for drawing down was raised in August

    Source: Bank of Finland

    In August 2024, drawdowns of student loans totalled EUR 165 million – almost the same as in the corresponding month last year. However, the volume of student loan drawdowns was affected by opposing forces.

    At the beginning of August 2024, the amount of student loan available for drawdown per month was raised by up to 30%.[1] As a result of an amendment to the Act on Financial Aid for Students, persons over 18 years studying in Finland have been able to draw down EUR 850 per month of government-guaranteed loan, instead of the previous EUR 650. The previous raise to the government-guaranteed amount of student loan was made in August 2017.

    Another change affecting the monthly drawdown volume was that students in secondary education now have more frequent student loan disbursements than before.[2] From now on, there are four disbursement dates in an academic year, regardless of the duration of studies. The change of the number of disbursements reduces the drawdowns in August and January and correspondingly increases them in March and November. According to Kela’s statistics, students in secondary education drew down approximately 19% of all student loans in the academic year 2022/2023.

    The rise in level of interest rates has reduced the volume of student loan drawdowns. However, interest rates on student loans have declined in 2024. In August 2024, the average interest rate on new student loans drawn down declined further, to stand at 4.07% in August. The average interest rate was slightly lower than at the same time a year earlier. 89% of the student loans drawn down were linked to Euribor rates and 11% to banks’ own reference rates.

    The reduced drawdown volume has contributed to the slowdown in the growth rate of the student loan stock in recent years.[3] However, the annual rate of growth of the student loan stock (4.2% in August) has picked up somewhat in recent months, and the increase of the government guarantee and lower interest rates may accelerate it further going forward. In August 2024, the stock of student loans (EUR 6.3 billion) was the largest ever.

    Loans

    In August 2024, Finnish households drew down EUR 1.1 billion of new housing loans, which is EUR 40 million less than in the same period a year earlier. Buy-to-let mortgage loans accounted for EUR 110 million of the new housing loan drawdowns. The average interest rate on new housing loans decreased from July, to stand at 3.93% in August. At the end of August 2024, the housing loan stock totalled EUR 105.9 billion, and its year-on-year change amounted to -0.7%. Buy-to-let mortgages accounted for EUR 8.7 billion of the housing loan stock. At the end of August, Finnish households’ loan stock included EUR 17.9 billion of consumer credit and EUR 17.6 billion of other loans.

    Drawdowns of new loans by Finnish non-financial corporations in August totalled EUR 1.5 billion, including EUR 440 million of loans to housing corporations. The average interest rate on new corporate-loan drawdowns rose from July, to stand at 5.36 %. At the end of August, the stock of loans granted to Finnish non-financial corporations was EUR 107.7 billion, whereof housing corporations accounted for EUR 44.8 billion.

    Deposits

    At the end of August 2024, the total stock of Finnish households’ deposits was EUR 110.6 billion, and the average interest rate on these deposits was 1.35%. Overnight deposits accounted for EUR 67.1 billion and deposits with an agreed maturity for EUR 14.6 billion of the total deposit stock. In August, Finnish households made new deposit agreements with an agreed maturity in the amount of EUR 1.1 billion. The average interest rate on these new term deposits was 3.39%.

    Loans and deposits to Finland, preliminary data*
      June, EUR million July, EUR million August, EUR million August, 12-month change1, % Average interest rate, %
    Loans to households, stock 141,421 141,223 141,425 -0.4 4.53
        – of which housing loans 106,032 105,861 105,914 -0.7 3.95
        – of which buy-to-let mortgages 8,682 8,680 8,708   4.14
    Loans to non-financial corporations2, stock  108,10 107,497 107,747 1.1 4.62
    Deposits by households, stock 110,784 109,951 110,644 1.2 1.35
               
    Households’ new drawdowns of housing loans 1,096 1,049 1,104   3.93
        – of which buy-to-let mortgages 96 96 111   4.06

    * Includes loans and deposits in all currencies to residents in Finland. The statistical releases of the Bank of Finland up to January 2021, as well as those of the ECB, present loans and deposits in euro to euro area residents and also include non-profit institutions serving households. For these reasons, the figures in this table differ from those in the aforementioned releases.
    1 Rate of change has been calculated from monthly differences in levels adjusted for classification and other revaluation changes.  
    2 Non-financial corporations also include housing corporations.

    For further information, please contact:

    Markus Aaltonen, tel. +358 9 831 2395, email: markus.aaltonen(at)bof.fi,

    Ville Tolkki, tel. +358 9 183 2420, email: ville.tolkki(at)bof.fi.

    The next news release on money and banking statistics will be published at 10:00 on 28 October 2024.

    Related statistical data and graphs are also available on the Bank of Finland website: https://www.suomenpankki.fi/en/statistics2/.

    [1] A larger amount of student loan can be taken out starting from August | Kela

    [2] Amount of the student loan | Our services| Kela. For students in higher education, there are two disbursement dates.

    [3] To a limited extent, the slowdown also reflects student loan compensations paid by Kela. Student loan compensation | Our services| Kela.

    statistics loans deposits interest rates student loans

    MIL OSI Economics

  • MIL-OSI Europe: Indo-Pacific region increasingly important in a turbulent world

    Source: Government of Sweden

    Indo-Pacific region increasingly important in a turbulent world – Government.se

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    Press release from Ministry of Defence

    Published

    Security in the Euro-Atlantic and Indo-Pacific regions is becoming increasingly interlinked. The Government is now presenting a defence policy direction for cooperation between Sweden and countries in the Indo-Pacific region.

    The Indo-Pacific region, the vast and densely populated area that stretches from the east coast of Africa via the Indian Ocean and archipelagos of South-East Asia to the Pacific Islands Countries, has taken on a key defence policy and military role in recent years. 

    These regional developments are increasingly characterised by the dynamic between China and the United States. China’s increasing authoritarianism and cooperation with Russia, as well as the United States’ resource prioritisation between Europe and the Indo-Pacific region, are both impacting the security situation in Europe. The Euro-Atlantic region, including Sweden, would be negatively affected by conflict in the Indo-Pacific region.

    At the same time, the Indo-Pacific region is affected by events in Europe, such as Russia’s full-scale invasion of Ukraine and its aftermath. Security in the Indo-Pacific and Euro-Atlantic regions is increasingly interlinked. 

    “It has therefore become increasingly important to develop defence relations with partner countries in the Indo-Pacific region. The Government’s ambition to do this is presented in the new policy direction,” says Minister of Defence Pål Jonson.

    The Government adopted the direction on 4 July. It was publicly launched during a seminar at the Mediterranean Museum in Stockholm on 30 September, which Mr Jonson participated in. 

    Press contact

    Policy direction in brief

    The direction lists measures intended to strengthen Sweden’s defence cooperation with Indo-Pacific countries within three focus areas:
    • defence relations;
    • military presence;
    • cooperation on defence materiel, innovation and technology.
    Through enhanced cooperation, Sweden and Swedish actors can further national defence capabilities and security while also contributing to peace and stability in the Indo-Pacific region. Within both NATO and the EU, Sweden will pursue increased defence cooperation with partner countries in the Indo-Pacific region.

    MIL OSI Europe News

  • MIL-OSI United Kingdom: Pan-African partnership reaches milestone for long-term climate finance solutions in Kenya

    Source: United Kingdom – Executive Government & Departments

    Mobilisation of climate finance set to be boosted across East Africa through new UK-backed company as investors put pen to paper to begin operations.

    • Investors back Dhamana Guarantee Company’s work to transform East Africa’s financial landscape.

    • Tackling climate change given another boost in Kenya as, for second time in a week, a UK-Government backed investor in green finance solutions puts pen to paper.

    Monday 30 September 2024 – Dhamana Guarantee Company Ltd (Dhamana) has reached a major milestone, marked at an event in Nairobi today.

    Investors in the new company put pen to paper at a signing ceremony, which will allow the company to kick-start operations.

    Dhamana aims to mobilise private sector finance to support the development of sustainable businesses. It will do so by issuing guarantees to commercially viable projects, businesses, and institutions that tackle the climate crisis and make progress towards the Sustainable Development Goals (SDGs).

    The design and creation of the company was supported by the UK-Government backed investor the Private Infrastructure Development Group (PIDG) through InfraCo Africa. With its anchor investment, PIDG kick-started Dhamana, attracting further equity investment from the African Development Bank (AfDB) and CPF Group, with support provided by Cardano Development and FSD Africa.

    Dhamana is a new limited liability company based in Kenya with a mandate to deliver for the East African region – including – Kenya, Tanzania, Uganda and Rwanda. It will provide credit guarantees on debt capital market instruments, to boost the credit rating of such instruments and crowd in investment from pension funds, insurance companies and sovereign wealth funds to support sustainable infrastructure and business development in East Africa.

    Dhamana will target businesses that add value to people’s lives, improving the day-to-day life of Kenyans and of people across the region. The increase in affordable finance for Kenyan businesses will mean projects will require less capital to get off the ground, make money, and generate growth. Dhamana will also enable investors to diversify their portfolios, acting as a catalyst to transform East Africa’s financing landscape.

    This is the second time in a week that an investor in climate solutions backed by the UK Government has achieved a milestone. Last week, MOBILIST signed a partnership with the Nairobi Securities Exchange which aims to drive the listing of new investment products in the Kenyan market and increase the amount of private sector capital available for development and climate projects in Kenya and drive growth.

    Dhamana CEO, Christopher Olobo, said:

    With the support of our investors and supporters, we have worked to develop Dhamana as an important catalyst for long-term sustainable finance in the region. Dhamana’s local currency guarantees will connect pools of untapped capital with East Africa’s real economy, making a tangible difference to people’s lives and offering local investors the opportunity to invest in Paris-aligned initiatives.

    Deputy High Commissioner and Development Director, British High Commission Nairobi, Leigh Stubblefield, said:

    For the second time in a week I am proud to say that the UK has supported a climate finance solution in Kenya – an example of our long-term commitment to long-term investment and growth. This is a great pan-Africa partnership that will improve the lives of East Africans for the better, and as the saying goes, we go far when we go together.

    Representing PIDG, InfraCo Africa CEO, Gilles Vaes, added:

    Building on the success of other PIDG-supported credit enhancement facilities in Nigeria and Pakistan, Dhamana will demonstrate the value of such a facility in the East African market, opening up opportunities for investors and clients alike. Crucially, Dhamana will engage new partners and investors in our efforts to urgently address the climate crisis and accelerate delivery of the UN sustainable development goals.

    In his remarks at the launch event, Solomon Quaynor, African Development Bank Vice President for Private Sector, Infrastructure & Industrialisation, said:

    The African Development Bank’s equity investment in Dhamana reinforces the catalytic role and potential of credit enhancement companies in leveraging opportunities for infrastructure financing in local currency and supporting debt capital markets deepening in our regional member countries. We intend to replicate this business model in appropriate markets across Africa with partners such as the Private Infrastructure Development Group (PIDG) and others. The first example of this type of credit enhancement company was InfraCredit in Nigeria which has had demonstrated success, and now Dhamana in East Africa. The investment in Dhamana aligns with the Bank’s priority to mobilise financing through innovative vehicles from African institutional funds including pension funds, sovereign wealth funds and insurance companies for infrastructure development in Africa.

    On his part, Dr. Hosea Kili, OGW – CPF Group Managing Director/CEO – said:

    We are proud to be part of this transformative initiative through Dhamana Guarantee Company. We believe in the power of innovative financial solutions to drive sustainable growth. By leveraging local currency guarantees, Dhamana will unlock critical capital for critical infrastructure projects, advancing economic development. This partnership aligns with our commitment to investing in initiatives that improve the lives of people’s lives and our economy while contributing to a more sustainable future.

    Joost Zuidberg, CEO of Cardano Development concluded:

    Dhamana’s true strength lies in its capacity to attract significant investments from East Africa’s institutional capital, laying a strong foundation for future scaling up according to its sizeable potential and thus meaningfully contribute to sustained economic growth in the region. Part of our core work is to incubate guarantee solutions for emerging and frontier markets, and we are thrilled to formalise this partnership today, as we collectively provide Dhamana with the crucial support and capital needed to fulfil this vital objective.

    NOTES FOR EDITORS

    The UK-Kenya Strategic Partnership

    The UK-Kenya strategic partnership joint statement can be found here.

    About Dhamana

    Dhamana Guarantee Company (Dhamana): Dhamana is working to catalyse the development of domestic capital markets in East Africa. It does this by connecting significant under-utilised sources of domestic institutional capital with the real economy, such as new green infrastructure, and providers of credit to  businesses. This increases access and the affordability of local capital, providing new low-risk opportunities for local investors. Dhamana will also serve to provide a portfolio of businesses with access to the local currency capital needed to deliver bankable projects, meeting the high demand for new affordable housing, transportation, water, and energy infrastructure, and promoting long term economic development. http://www.dhamana.com

    About PIDG

    The Private Infrastructure Development Group (PIDG) is an innovative infrastructure project developer and investor which mobilises private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. PIDG investments promote socio-economic development within a just transition to net zero emissions, combat poverty and contribute to the Sustainable Development Goals (SDGs). PIDG delivers its ambition in line with its values of pioneering, partnership, safety, inclusivity, and urgency. PIDG offers Technical Assistance for upstream, early-stage activities and concessional capital; its project development arm – which includes InfraCo Africa and InfraCo Asia – invests in early-stage project development and project and corporate equity. PIDG credit solutions include EAIF (the Emerging Africa Infrastructure Fund), one of the first and more successful blended debt funds in low-income markets; GuarantCo, its guarantee arm that provides credit enhancement and local currency solutions to de-risk projects; and a growing portfolio of local credit enhancement facilities, which unlocks domestic institutional capital for infrastructure financing. Since 2002, PIDG has supported 233 infrastructure projects to financial close, which provided an estimated 228 million people with access to new or improved infrastructure. PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia, Sweden, Global Affairs Canada, Germany, and the IFC. http://www.pidg.org

    About the African Development Bank (AfDB)

    The African Development Bank (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and Nigeria Trust Fund (NTF). On the ground in 34 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. http://www.afdb.org

    About the CPF Group

    The CPF Group offers a comprehensive range of services through its various subsidiaries including  CPF Financial Services which administers both private and public pension funds; notably – the Public Service Superannuation Scheme (PSSS); The Local Authorities Pensions Trust (LAPTRUST); the Taifa Pension Fund; the County Pension Fund and CPF Individual Pension Plan. The funds under our administration have a total membership of just over 500,000 members.

    Other subsidiaries include Laser Infrastructure & Technology Solutions (LITES); Laser Property Services; Rukisha Advances payment platform; CPF Asset Managers; CPF Capital & Advisory; and Laser Insurance Brokers (LIB).  The Group offers a wide range of services in ICT & renewable energy solutions, Property Services, Insurance Brokerage, Smart Money platform, fund management, Transaction Advisory, Trust fund services, training & consultancy, and Corporate Trustee Services. Derived from uncompromised commitment to fulfilling lives, the CPF Group prioritises new models and approaches in engineering turnkey solutions for clients across the region. http://www.cpfgroup.or.ke

    About Cardano Development

    Cardano Development (CD), established in 2007, incubates new companies, and creates and manages fund managers. Through careful risk-management analysis in data poor settings, CD identifies scalable solutions that can help to make frontier financial markets more inclusive, investible, and sustainable to unlock lasting economic value. CD creates scalable solutions for currency, credit, and liquidity risks in these markets. With over USD 6 billion assets and USD 3.1 billion capital under management, CD supports scale-up ventures (TCX, GuarantCo, Frontclear, BIX Capital, ILX Fund, AGRI3 Fund), and a number of new start-ups, with ongoing management support services and corporate governance oversight. http://www.cardanodevelopment.com.

    Updates to this page

    Published 30 September 2024

    MIL OSI United Kingdom

  • MIL-OSI: Sydbank share buyback programme: transactions in week 39

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement No 45/2024

    Peberlyk 4
    6200 Aabenraa
    Denmark

    Tel +45 74 37 37 37
    Fax +45 74 37 35 36

    Sydbank A/S
    CVR No DK 12626509, Aabenraa
    sydbank.dk

    30 September 2024  

    Dear Sirs

    Sydbank share buyback programme: transactions in week 39
    On 28 February 2024 Sydbank announced a share buyback programme of DKK 1,200m. The share buyback programme commenced on 4 March 2024 and will be completed by 31 January 2025.

    The purpose of the share buyback programme is to reduce the share capital of Sydbank and the programme is executed in compliance with the provisions of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, collectively referred to as the Safe Harbour rules.

    The following transactions have been made under the share buyback programme:

      Number of shares VWAP Gross value (DKK)
    Accumulated, most recent
    Announcement

    2,163,000

     

    772,968,750.00

    23 September 2024
    24 September 2024
    25 September 2024
    26 September 2024
    27 September 2024
    17,000
    17,000
    15,000
    15,000
    16,000
    335.79
    339.99
    335.19
    337.94
    335.70
    5,708,430.00
    5,779,830.00
    5,027,850.00
    5,069,100.00
    5,371,200.00
    Total over week 39 80,000   26,956,410.00
    Total accumulated during the
    share buyback programme

    2,243,000

     

    799,925,160.00

    All transactions were made under ISIN DK 0010311471 and effected by Danske Bank A/S on behalf of Sydbank A/S.

    Further information about the transactions, cf Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse and Commission delegated regulation, is available in the attachment.

    Following the above transactions, Sydbank holds a total of 2,325,322 own shares, equal to til 4.26% of the Bank’s share capital.

    Yours sincerely
            
    Mark Luscombe        Jørn Adam Møller
    CEO        Deputy Group Chief Executive

    Attachment

    The MIL Network

  • MIL-OSI Economics: 21 startups transforming education with AI

    Source: Google

    Picture a world where students, regardless of their background, can learn in a personalized way. Imagine teachers with tools that anticipate their needs, freeing them to focus on what they do best: inspiring and guiding their class. This isn’t a distant dream, but a reality being shaped by entrepreneurs in the Google for Startups Growth Academy: AI for Education program.

    Selected from a pool of more than 600 applicants from across Europe, Africa and the Middle East, the 21 participating startups are all using AI to create more inclusive, engaging and effective educational pathways. From building intelligent tutors that adapt to each student’s pace, to platforms that make education accessible even in remote areas, we can’t wait to see the impact they’ll have on learners around the world.

    Each founder and their team will receive three months of mentorship by Google experts, resources to help grow their technology, business and global reach, and a collaborative community of fellow founders to support one another. Learn more about the Google for Startups Growth Academy: AI for Education cohort:

    • Angaza Elimu (Kenya): An eLearning platform that creates a more personalized and engaging experience, fostering stronger connections between learners and teachers.
    • BLISKO (Poland): An AI-powered platform that personalizes learning for children ages 0-6, that focuses on building strong relationships and creating personalized learning plans that fit each child’s unique needs, abilities and interests
    • Complori (Germany): A hybrid learning platform that equips children, ages 7-16, with hard skills such as technological understanding and programming, and soft skills through live and online group lessons.
    • Correcto (Spain): An AI-powered platform that enhances Spanish writing skills, offering tools tailored for Spanish-speaking users.
    • Digify Africa (South Africa): A high-tech learning platform, delivered via a low-tech interface, that improves access to education for low-income learners.
    • eKidz (Germany): An app that makes acquiring literacy and a new language easy and accessible for every child. Utilizing a purpose-built AI voice recognition students with precise diagnostics and support.
    • EvidenceB (France): An AI tutoring platform that works for any subject, available as a subscription service. Teachers get helpful data insights to guide their instruction.
    • ExamSolutions (UK): An AI-powered tutoring platform combining visual, auditory and textual content tailored for learning and exam preparation for math at GCSE & A-level.
    • Hawkings Education (Spain): An AI online learning system, making the experience more personalized for students and giving teachers better tools.
    • Jotit (Israel): A first of its kind, turning any standard Chromebook or tablet into an all-in-one learning space, creating a focused, distraction-free environment which keeps handwriting at its core.
    • LearnWise AI (Netherlands): A platform empowering universities and colleges worldwide to revolutionize student support through custom AI assistants.
    • MOONHUB (UK): A VR training platform that allows people to train like they were on the job from anywhere, any time to assess how people react to their observed virtual worlds.
    • Optima (UAE): An AI-powered education platform and course creation engine with a focus on data and AI engineering skills. Optima’s approach combines live interactive sessions, self-paced learning and AI-assisted tutoring.
    • OpenCyberAI (United Kingdom): An educational platform dedicated to cybersecurity, offering virtual simulations through interactive training, powered by an AI personalizing your learning path.
    • Pandatron (Finland): A platform supports talent development and helps employees adapt to digital and cultural changes by using AI-powered coaching conversations to identify underlying issues within the organization.
    • SignLab (Norway): An AI sign language digital platform that makes learning more accessible, effective, and affordable.
    • Story Spark (United Kingdom): An AI-powered story generator and reading platform for children combining innovative literacy education with engaging and personalized content.
    • ubiMaster (Germany): A live, personal online tutor platform designed to make learning with experts easy and widely available.
    • Utiva Education (Nigeria): A tech platform that helps people in Africa learn skills needed for global jobs, enabling companies to hire talent across different regions and increasing employment in the region.
    • Wilco (Israel): A platform helping both businesses and software vendors easily provide high-end training and education materials for their employees, candidates or users.
    • Wiloki (France): An online tutoring platform for children ages 7-14, using AI-powered tools to personalize the learning path according to each child’s unique educational profile and motivational triggers.

    As we continue to explore the possibilities of AI in education, one thing is certain: The path towards more personalized, effective and inspiring learning experiences has just begun.

    Learn more about our selected startups at startup.google.com.

    MIL OSI Economics

  • MIL-OSI: Changes in the number of own shares held by Aktia Bank Plc

    Source: GlobeNewswire (MIL-OSI)

    Aktia Bank Plc
    Stock Exchange Release
    30 September 2024 at 1.00 p.m.

    Changes in the number of own shares held by Aktia Bank Plc

    Aktia Bank Plc has today, based on a decision made by the company’s Board of Directors, transferred a total of 4,586 own shares held by the company to eight persons based on the company’s remuneration programs. Of the transferred shares, 2,086 were transferred to six persons as part of variable remuneration previously deferred in accordance with regulation, and 2,500 shares to two persons as part of the Restricted Share Plan.

    The divestment of own shares is based on the authorisation by the Annual General Meeting of Shareholders held on 3 April 2024. After the above-mentioned divestments, a total of 71,490 shares remain in the company’s possession.

    Aktia Bank Plc

    Further information:
    Oscar Taimitarha, Director, Investor Relations, tel. +358 40 562 2315, ir (at) aktia.fi

    Distribution:
    Nasdaq Helsinki Ltd
    Mass media
    http://www.aktia.com

    Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 850 people around Finland. Aktia’s assets under management (AuM) on 30 June 2024 amounted to EUR 14.1 billion, and the balance sheet total was EUR 12.4 billion. Aktia’s shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.

    The MIL Network

  • MIL-OSI Europe: SEK 25 million in humanitarian support to crisis-affected Sudan

    Source: Government of Sweden

    SEK 25 million in humanitarian support to crisis-affected Sudan – Government.se

    Please enable javascript in your browser

    Press release from Ministry for Foreign Affairs

    Published

    The Government is setting aside an additional SEK 25 million to address the growing humanitarian crisis in Sudan. This humanitarian support is being disbursed to the United Nations Refugee Agency (UNHCR) and the humanitarian operations of the International Committee of the Red Cross (ICRC). An estimated 25 million people are in need of humanitarian support in Sudan in the midst of the world’s largest humanitarian crisis.

    “The Government is now increasing Sweden’s humanitarian aid to help the people who are living under almost impossible conditions in Sudan. I recently met with the UNHCR country director for Sudan and other humanitarian actors that are fighting to reach those in need despite the grave risks and challenges. This additional support will go to care for the ill and injured, evacuation of civilians from war-affected areas affected by war, and protection and shelter for families and children who have been forced to flee from their homes. Swedish humanitarian aid will also reach people in dire need and poverty,” says Minister for International Development Cooperation and Foreign Trade Benjamin Dousa.

    UNHCR supports displaced people in Sudan and its neighbouring countries by registering refugees, identifying humanitarian needs and offering protection. The war in Sudan has brought about the world’s largest refugee crisis, with more than 10 million people displaced in the region. UNHCR assists by providing vital supplies, shelter, protection measures for the civilian population and safe refugee camps. The Government is now setting aside an additional SEK 15 million for UNHCR operations in Sudan. 

    The ICRC plays an important role in the humanitarian response in Sudan. This includes providing first aid and other acute care to the civilian population, organising evacuations of civilians and offering various types of protection for vulnerable people. The ICRC also plays a significant role in promoting and ensuring compliance with international humanitarian law. The Government is now setting aside an additional SEK 10 million for ICRC operations in Sudan.

    Sweden’s support to Sudan

    Sweden has set aside a total of SEK 659 million in support to the civilian population in Sudan thus far in 2024. This consists of SEK 439 million in humanitarian support and SEK 220 million in long-term development cooperation. Sweden also provides humanitarian support to the neighbouring countries Chad and South Sudan.

    Press contact

    MIL OSI Europe News

  • MIL-OSI Africa: Secretary-General remarks at High-level Ministerial Meeting in Support of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) [as delivered]

    Source: United Nations – English

    xcellencies, Distinguished guests,

    I thank the Hashemite Kingdom of Jordan and Sweden for co-chairing this gathering and for their continued leadership in the support for UNRWA. I also thank all of you here today for your solidarity with Palestine Refugees.

    When we met one year ago, I spoke about putting ourselves in the shoes of Palestinians in Gaza. Of imagining what life must be like.

    I ended my remarks one year ago by saying “This is the most dramatic humanitarian problem associated with the riskiest explosive potential.”

    This was just days before the horrors of October 7th.

    Now, almost one year since that day, the situation for Palestinians in Gaza is beyond imagination.

    It has been said that “The United Nations was not created to bring us to heaven, but to save us from hell.”

    Unfortunately, neither the United Nations nor anyone else that might have the power to do it was able to save the people of Gaza from hell.

    We have failed the people of Gaza.

    They are in a living hell that somehow gets even worse by the day.

    Over 41,000 people have been reported killed and more than 90,000 wounded, many with life-changing and lifelong injuries. The majority are women and children.

    Two million Palestinians are now crammed into a space the size of the Shanghai International Airport. Existing – not living, but existing – among lakes of sewage, piles of rubbish and mountains of rubble.

    The only certainty they have is that tomorrow will be worse.

    Yet if there is any outpost of hope in this hellscape, it is UNRWA.

    Even though UNRWA – as we all know – has not been spared.

    On the human level – 222 UNRWA colleagues have been killed, many together with entire families, several in the line of duty. This is the highest death toll in UN history. 

    I ask you – all of you – to think for a moment in the different entities that you preside [over], or to which you belong, what would be the impact if 222 members would have been killed and even after that having to go with their duties to save the people of Palestine.

    UNRWA personnel have been attacked repeatedly while going about their work. Women and men are displaced, shot at, and subjected to violent protests, detained by Israeli security forces, reporting mistreatment and torture.

    UNRWA has not been spared on the operational level – the humanitarian response in Gaza is being strangled.

    Protection and deconfliction mechanisms for humanitarian aid deliveries have failed. Attempts to evict UNRWA from its headquarters in East Jerusalem continue.

    And UNRWA has not been spared on the political level. This includes systematic disinformation campaigns that discredit the agency’s lifelong work.

    Meanwhile draft legislation in the Israeli parliament seeks to label the Agency a terrorist organization and to make any activity by UNRWA on Israeli territory illegal.

    In the face of the catastrophic conditions, UNRWA perseveres.

    This is a tribute to the resilience of the women and men of UNRWA, and a tribute to your support.

    Excellencies,

    I have full confidence in UNRWA’s continued commitment to upholding the humanitarian principles of neutrality, impartiality, and humanity and to implement the recommendations of the Independent Review by Catherine Colonna. 

    Member States are showing that same confidence.

    Virtually all donors have reversed their funding suspensions. 123 countries have signed up to the declaration on shared commitments to UNRWA.

    This underscores the consensus that UNRWA’s role across the occupied West Bank and the region is vital.

    Friends,

    There is no alternative to UNRWA.

    Now is the time to work on all fronts to intensify support for the agency’s vital mission.

    Support with funding that is sufficient, predictable and flexible.

    Of course, we all know that UNRWA is not a sustainable long-term solution to the plight of Palestine Refugees. It was never meant to be. 

    That is why we keep pressing for an immediate humanitarian ceasefire, the immediate release of all hostages and a long-term political solution ending the occupation and leading to 2 states living side by side in peace and security, with Jerusalem as the capital.

    But until that moment, UNRWA remains indispensable.

    I urge your full support. 

    Help us to save UNRWA as it works to save and serve Palestine refugees.

    Thank you.
     

    MIL OSI Africa

  • MIL-OSI United Nations: Secretary-General remarks at High-level Ministerial Meeting in Support of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) [as delivered]

    Source: United Nations secretary general

    Excellencies, Distinguished guests,

    I thank the Hashemite Kingdom of Jordan and Sweden for co-chairing this gathering and for their continued leadership in the support for UNRWA. I also thank all of you here today for your solidarity with Palestine Refugees.

    When we met one year ago, I spoke about putting ourselves in the shoes of Palestinians in Gaza. Of imagining what life must be like.

    I ended my remarks one year ago by saying “This is the most dramatic humanitarian problem associated with the riskiest explosive potential.”

    This was just days before the horrors of October 7th.

    Now, almost one year since that day, the situation for Palestinians in Gaza is beyond imagination.

    It has been said that “The United Nations was not created to bring us to heaven, but to save us from hell.”

    Unfortunately, neither the United Nations nor anyone else that might have the power to do it was able to save the people of Gaza from hell.

    We have failed the people of Gaza.

    They are in a living hell that somehow gets even worse by the day.

    Over 41,000 people have been reported killed and more than 90,000 wounded, many with life-changing and lifelong injuries. The majority are women and children.

    Two million Palestinians are now crammed into a space the size of the Shanghai International Airport. Existing – not living, but existing – among lakes of sewage, piles of rubbish and mountains of rubble.

    The only certainty they have is that tomorrow will be worse.

    Yet if there is any outpost of hope in this hellscape, it is UNRWA.

    Even though UNRWA – as we all know – has not been spared.

    On the human level – 222 UNRWA colleagues have been killed, many together with entire families, several in the line of duty. This is the highest death toll in UN history. 

    I ask you – all of you – to think for a moment in the different entities that you preside [over], or to which you belong, what would be the impact if 222 members would have been killed and even after that having to go with their duties to save the people of Palestine.

    UNRWA personnel have been attacked repeatedly while going about their work. Women and men are displaced, shot at, and subjected to violent protests, detained by Israeli security forces, reporting mistreatment and torture.

    UNRWA has not been spared on the operational level – the humanitarian response in Gaza is being strangled.

    Protection and deconfliction mechanisms for humanitarian aid deliveries have failed. Attempts to evict UNRWA from its headquarters in East Jerusalem continue.

    And UNRWA has not been spared on the political level. This includes systematic disinformation campaigns that discredit the agency’s lifelong work.

    Meanwhile draft legislation in the Israeli parliament seeks to label the Agency a terrorist organization and to make any activity by UNRWA on Israeli territory illegal.

    In the face of the catastrophic conditions, UNRWA perseveres.

    This is a tribute to the resilience of the women and men of UNRWA, and a tribute to your support.

    Excellencies,

    I have full confidence in UNRWA’s continued commitment to upholding the humanitarian principles of neutrality, impartiality, and humanity and to implement the recommendations of the Independent Review by Catherine Colonna. 

    Member States are showing that same confidence.

    Virtually all donors have reversed their funding suspensions. 123 countries have signed up to the declaration on shared commitments to UNRWA.

    This underscores the consensus that UNRWA’s role across the occupied West Bank and the region is vital.

    Friends,

    There is no alternative to UNRWA.

    Now is the time to work on all fronts to intensify support for the agency’s vital mission.

    Support with funding that is sufficient, predictable and flexible.

    Of course, we all know that UNRWA is not a sustainable long-term solution to the plight of Palestine Refugees. It was never meant to be. 

    That is why we keep pressing for an immediate humanitarian ceasefire, the immediate release of all hostages and a long-term political solution ending the occupation and leading to 2 states living side by side in peace and security, with Jerusalem as the capital.

    But until that moment, UNRWA remains indispensable.

    I urge your full support. 

    Help us to save UNRWA as it works to save and serve Palestine refugees.

    Thank you.
     

    MIL OSI United Nations News

  • MIL-OSI Translation: Statement by Minister Guilbeault following the Canada-Norway Ministerial Meeting on Plastic Pollution held on the margins of the 79th United Nations General Assembly

    MIL OSI Translation. Canadian French to English –

    Source: Government of Canada – in French 1

    The Honourable Steven Guilbeault, Canada’s Minister of Environment and Climate Change, issued the following statement as Canada and Norway concluded the Ministerial Consultation on the Plastic Pollution Treaty, which took place on the margins of the 79th United Nations General Assembly and ahead of the fifth and final negotiating session of the Intergovernmental Negotiating Committee (INC-5) scheduled to take place in the Republic of Korea later this year.

    September 26, 2024 – Gatineau, Quebec The Honourable Steven Guilbeault, Canada’s Minister of Environment and Climate Change, issued the following statement as Canada and Norway concluded the Ministerial Consultation on the Plastic Pollution Treaty, which took place on the margins of the 79th United Nations General Assembly and ahead of the fifth and final negotiating session of the Intergovernmental Negotiating Committee (INC-5) scheduled to take place in the Republic of Korea later this year.

    “Plastics are being produced and consumed at an increasing rate, travelling across national borders, posing a risk to wildlife and damaging ecosystems. Millions of metric tonnes of plastic pollution enter our oceans each year, leaving a legacy of environmental impacts for future generations. Canada is taking ambitious action to reduce plastic pollution and help Canadians transition to a circular economy by following a comprehensive, evidence-based plan that covers the entire plastics lifecycle to keep plastics in the economy and out of the environment. But we can’t just act at home – plastic pollution is a global problem that is only getting worse. “Two years ago, the United Nations Environment Assembly (UNEA) unanimously adopted a historic and ambitious resolution to develop a new legally binding instrument on plastic pollution by the end of 2024. Since then, Canada has been actively engaged in the development of this global agreement, including through the fourth session of the Intergovernmental Negotiating Committee (INC-4) in April 2024, which brought together over 3,000 participants from around the world.

    “To build on this momentum, the governments of Canada and Norway co-hosted a ministerial consultation on the Plastic Pollution Treaty this week in New York, which helped identify areas of convergence ahead of INC-5. This is a critical element of the negotiations, and Canada calls on all Member States and Ministers to step up their efforts to chart a path toward an ambitious and effective global agreement to protect human health and the environment from plastic pollution. Canada looks forward to working with other Member States, Indigenous Peoples, intergovernmental partners and stakeholders to reach a final negotiated agreement to end plastic pollution at the final scheduled negotiation session (INC-5), to be held in the Republic of Korea this November.”

    Oliver AndersonDirector of CommunicationsOffice of the Minister of Environment and Climate Change819-230-1557Oliver.Anderson@ec.gc.ca

    Media RelationsEnvironment and Climate Change Canada819-938-3338 or 1-844-836-7799 (toll free)media@ec.gc.ca

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

  • MIL-OSI Canada: Minister Guilbeault issues statement following Canada–Norway ministerial on plastic pollution on the margins of the 79th United Nations General Assembly

    Source: Government of Canada News

    The Honourable Steven Guilbeault, Minister of Environment and Climate Change, issued the following statement as Canada and Norway conclude the ministerial consultation on the plastic pollution treaty on the margins of the 79th United Nations General Assembly (UNGA) and ahead of the fifth and final negotiations of the Intergovernmental Negotiating Committee (INC-5) in the Republic of Korea later this year.

    September 26, 2024 – Gatineau, Quebec
     
    The Honourable Steven Guilbeault, Minister of Environment and Climate Change, issued the following statement as Canada and Norway conclude the ministerial consultation on the plastic pollution treaty on the margins of the 79th United Nations General Assembly (UNGA) and ahead of the fifth and final negotiations of the Intergovernmental Negotiating Committee (INC-5) in the Republic of Korea later this year.

    “Plastics are being produced and consumed at a growing rate, travelling beyond national borders, posing a risk to wildlife, and damaging ecosystems. Millions of metric tons of plastic pollution are entering our oceans every year, which is leaving a legacy of environmental impacts for future generations. Canada is taking ambitious action to reduce plastic pollution and help Canadians move toward a circular economy through an evidence-based and comprehensive plan. This plan addresses the entire lifecycle of plastics and keeps plastic in the economy and out of the environment. But we can’t just take action at home—plastic pollution is a global problem that is only getting worse.
     
    “Two years ago, the United Nations Environment Assembly (UNEA) unanimously adopted a historic and ambitious resolution to develop a new, legally binding instrument on plastic pollution by the end of 2024. Canada has been actively involved in the development of this global agreement since then, which included hosting the fourth session of the Intergovernmental Negotiating Committee (INC-4) in April 2024 with over 3,000 participants from around the world.

    “To continue the momentum, the Governments of Canada and Norway co-hosted a ministerial consultation on the plastic pollution treaty this week in New York that helped identify areas of convergence ahead of the fifth session of the Intergovernmental Negotiating Committee (INC-5).  It is a critical point in negotiations, and Canada invites all member states and ministers to intensify their efforts to chart the path toward an ambitious and effective global deal to protect human health and the environment from plastic pollution. Canada looks forward to working with other member states, Indigenous peoples, intergovernmental partners, and stakeholders to reach a final negotiated agreement to end plastic pollution at the last scheduled negotiation session of the Intergovernmental Negotiating Committee (INC-5) in the Republic of Korea this November.”

    Oliver Anderson
    Director of Communications
    Office of the Minister of Environment and Climate Change
    819-962-0686
    Oliver.Anderson@ec.gc.ca

    Media Relations
    Environment and Climate Change Canada
    819-938-3338 or 1-844-836-7799 (toll-free)
    media@ec.gc.ca

    MIL OSI Canada News

  • MIL-OSI USA: Joint Statement From the Combined Space Operations Initiative

    Source: United States Department of Defense

    This year, the Combined Space Operations (CSpO) Initiative celebrated ten years of working together to lead as responsible space actors.

    The CSpO Initiative generates and improves cooperation and coordination of national security space activities. It has grown to ten partners: Australia, Canada, France, Germany, Italy, Japan, New Zealand, Norway, United Kingdom, and the United States of America.

    Space is integral to our shared prosperity and security. Space systems and services require assured access to, and freedom to operate in space.

    However, the security and stability of space are at risk. We are committed to ensuring the lawful and sustainable use of space, and the prevention of conflict.

    Throughout the years, we have pursued collaborative efforts to meet rapidly evolving challenges and opportunities, and to deliver resilient, agile, secure, and interoperable capabilities.

    The United States of America, as a CSpO Initiative partner, looks forward to continued cooperation to demonstrate responsible behaviors and the promotion of a secure, stable, and safe space domain.

    MIL OSI USA News

  • MIL-OSI Banking: New ADB–IFFEd Partnership to Unlock $500 Million in Concessional Education Financing in Asia and Pacific

    Source: Asia Development Bank

    MANILA, PHILIPPINES (26 September 2024) — The Asian Development Bank (ADB) has signed an agreement with the International Finance Facility for Education (IFFEd) that will enable at least $500 million in new concessional education funding for lower middle-income countries (LMICs) in Asia and the Pacific.

    Under the financing partnership, IFFEd—a sovereign-backed Swiss foundation established in 2023 to invest in education and skills in LMICs—will guarantee $125 million of ADB’s sovereign loan exposure across all sectors, known as a synthetic portfolio, and provide an initial $50 million in grants.

    By blending IFFEd’s guarantees to ADB with grants that will comprise 10% of every loan, the first-of-its-kind arrangement facilitates a four times leverage ratio of the guarantee, boosting the amount of capital ADB can lend while lowering borrowing costs for the bank’s developing member countries (DMCs).

    “Education is the cornerstone of modern, prosperous, and inclusive societies, and we are pleased to announce this partnership with IFFEd,” said ADB Vice-President for Sectors and Themes Fatima Yasmin. “By pooling catalytic and concessional financing, this initiative means our lower middle-income DMCs can scale up their investments in education and skills—vital to building knowledge-based economies—along with other sectors at the same time.”

    LMICs face an education crisis. More than 50% of students in these countries are not able to read simple text by age 10 despite attending school, and graduates do not have the skills to find jobs, leaving employers unable to fill vacancies.

    As countries move from lower to lower middle-income status, they tend to get caught in a financing “missing middle” where they are no longer eligible to receive grants but cannot afford nonconcessional financing—forcing a difficult decision of where to invest, exacerbated by limited domestic financing.

    By bringing concessional or grant resources to developing countries seeking to strengthen their education systems, the ADB–IFFEd partnership’s key innovation lies in the fact that—at a time of rapid change—it will help ADB’s DMCs prepare for a future characterized by digital transformation, climate change, demographic transitions, and rapid urbanization.

    IFFEd’s sovereign donors include Canada, Sweden, and the United Kingdom, while the Atlassian Foundation, Jacobs Foundation, Porticus, Rockefeller Foundation, and the Soros Economic Development Fund (the investment arm of Open Society Foundations) have provided seed capital. IFFEd, which benefits from a strong credit rating, will initially focus on Asia and the Pacific, and Africa, in collaboration with multilateral development banks (MDBs).

    “Investing in education and skills in LMICs—home to nearly half of the world’s children and youth—is key to powering long-term economic growth and making progress on global health, climate, and equity goals,” said IFFEd Founding Chief Executive Officer Karthik Krishnan.

    “IFFEd has been recognized by the G20 MDB Capital Adequacy Framework Review as one of the most significant development finance innovations in the past decade and delivers seven times more impact than traditional grants. ADB played a key role in shaping the IFFEd instrument and as our first founding MDB partner, ADB is showcasing its unwavering commitment to alleviating poverty and powering economic growth in Asia and the Pacific,” added Mr. Krishnan.

    The following ADB DMCs are currently eligible for IFFEd funding: Bangladesh, India, Mongolia, Pakistan, Papua New Guinea, the Philippines, Sri Lanka, Timor-Leste, Uzbekistan, and Viet Nam.

    IFFEd-funded education projects can support ADB programs at any level of the education system—from early childhood development and school education to technical and vocational training, skills development and tertiary education.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

    MIL OSI Global Banks

  • MIL-OSI USA: NASA’s Artemis Science Instrument Gets Tested in Moon-Like Sandbox

    Source: NASA

    On Sept. 9 and 10, scientists and engineers tested NASA’s LEMS (Lunar Environment Monitoring Station) instrument suite in a “sandbox” of simulated Moon regolith at the Florida Space Institute’s Exolith Lab at the University of Central Florida in Orlando.

    Lunar regolith is a dusty, soil-like material that coats the Moon’s surface, and researchers wanted to observe how the material would interact with LEMS’s hardware, which is being developed to fly to the Moon with Artemis III astronauts in late 2026.

    Designed and built at NASA’s Goddard Space Flight Center in Greenbelt, Maryland, LEMS is one of three science payloads chosen for development for Artemis III, which will be the first mission to land astronauts on the lunar surface since 1972.

    The LEMS instrument package can operate both day and night. It will carry two University of Arizona-built seismometers to the surface to perform long-term monitoring for moonquakes and meteorite impacts.

    Image credits: NASA/UCF/University of Arizona
    Behind the Scenes of a NASA ‘Moonwalk’ in the Arizona Desert

    NASA’s Artemis II Crew Uses Iceland Terrain for Lunar Training

    MIL OSI USA News

  • MIL-OSI Europe: Sweden’s National Statement at the 79th Session of the United Nations General Assembly

    Source: Government of Sweden

    Mr President, Excellencies,

    We are gathered in this Assembly while the world, and this organisation, are facing major and existential challenges.

    We are gathered while we are witnessing an unprecedented number of armed conflicts. From Ukraine to Sudan, the eastern Democratic Republic of the Congo and Gaza.

    We are gathered while we are failing at our collective goal of maintaining international peace and security, of saving future generations from the horrors of war and from the disastrous consequences of underdevelopment and climate change.

    Mr President,

    The UN Charter – the sovereign equality of all states, the peaceful settlement of disputes, the prohibition of the threat or use of force against any state – is being challenged. We must stand by the Charter.

    Sweden’s strong defence of international law, including the UN Charter, is based on the understanding that both our own security and that of other countries depends on it.

    Ensuring respect for sovereignty, territorial integrity and political independence of all states – both large and small – is in our common interest. At its core lies the need for a global system that is open, predictable and applies equally to all.

    In too many places around the world, including in Sweden’s immediate neighbourhood, we are witnessing the consequences of violations of the rules and principles we have all agreed to.

    Since the start of Russia’s aggression against Ukraine in 2014, and with the full-scale invasion of Ukraine in 2022, Russia has brutally invaded the territory of another UN Member State. This Assembly has strongly and repeatedly condemned Russia’s aggression against Ukraine as a blatant violation of international law, including the UN Charter.

    If a member of the Security Council is allowed to reap the fruits of aggression, the harmful impact will not stop with Ukraine. Russia’s leadership will continue its attempts to impose its rule on neighbouring countries.

    The territorial integrity and sovereignty of all states must serve as a basis for a comprehensive, just and lasting peace in Ukraine. This was confirmed at the Peace Summit in Switzerland in June, which gathered some 100 delegations from all continents.

    Ukraine has made clear from the start that it wants a peaceful settlement based on the UN Charter. As President Zelensky rightfully said in his speech before this assembly yesterday: “There can be no just peace without Ukraine.” Sweden’s steadfast support for Ukraine’s efforts to restore its sovereignty and territorial integrity will continue for as long as it takes.

    As a direct response to Russia’s full-scale invasion, Sweden and Finland chose to join NATO. For Sweden’s part, this represents a truly historic change, ending 200 years of military non-alignment. This was our decision to take, because it is the right of each state to choose its own security policy path.

    Sweden’s NATO membership gives us a new, crucial platform to defend the fundamental values of our foreign and security policy. We will apply the same principled approach in NATO as we do in the UN, the EU, the OSCE and the Council of Europe. In other words, we will continue to defend international law, democracy, individual freedoms, human rights and gender equality.

    Mr President,

    Sweden has always defended the universal principles of sovereignty and the right to self-determination. In fact, Sweden has consistently supported countries struggling for liberty, independence and democracy – not least in Africa. And we continue to be an engaged partner of African countries. 
    To take just one example, I am deeply concerned about the situation in Sudan. More than 10 million people have been displaced, which roughly corresponds to the entire population of my own country. Safe, rapid and unhindered humanitarian access, an immediate ceasefire and negotiations ensuring a return to civilian rule are urgently required.

    Therefore, Sudan is among the countries receiving the most humanitarian support from Sweden this year. Sweden remains a key partner and donor of UN humanitarian assistance, as well as of peacekeeping and peacebuilding efforts.

    Similarly, Sweden supports the ongoing peace efforts by the United Nations in Yemen, where we will continue to work with our partners for a principled and inclusive humanitarian response. The people of Yemen are looking to the international community for hope, for a way out of humanitarian despair. We must answer that call.

    Mr President,

    We are also faced with the threat of a regional war, the consequences of which no one can predict. My country’s longstanding commitment to peace efforts in the Middle East dates back to 1948 and the efforts of UN mediator Folke Bernadotte. Today, Sweden is one of the largest core donors to UN agencies and other organisations working to mitigate the immense suffering of the civilian population in Gaza. At the same time, Sweden stands up for Israel’s right to defend itself in accordance with international law and demands that the hostages be released.

    Israel is being threatened by Iran and its allies simultaneously on several fronts. Hezbollah’s repeated attacks since October 8th has led to a dangerous military escalation. Sweden fully supports the efforts by the United States, France and others to reach a diplomatic solution. A ceasefire would provide space for reaching a diplomatic settlement consistent with UN Security Council resolution 1701 as well as the implementation of UN Security Council 2735 on a ceasefire in Gaza.

    In the longer term, Sweden – like the EU and the United States – believes in the idea of a two-state solution in which Israelis and Palestinians can live side by side in peace, freedom and democracy.

    Mr President,

    In order to address global challenges, we need to ensure that our aid helps to mobilise additional resources, not least private capital.
    Development assistance alone is not enough to build long-term wealth and welfare.

    It must go hand in hand with democracy, the rule of law, market development, trade, investments and technology transfer. We see that clearly in the countries now leaving poverty behind.

    We must also redouble our efforts to achieve the 2030 Agenda. Sweden is one of the world’s most generous donors of development assistance. Through our development assistance, we are accelerating the implementation of the Sustainable Development Goals. To achieve this, strong national ownership in partner countries and a broader approach to development cooperation among donors is needed.

    We must also step up the fight against corruption so that economic growth benefits the whole of society, not just the few.

    Mr President,

    I can only note that women have been underrepresented as speakers this week at the General Debate. Women make up 50 percent of the world’s population, yet less than 10 percent of speakers this week are women. There is a lot of room for improvement in this regard.

    I agree with the Secretary-General that global opposition to gender equality is on the rise. That is why gender equality is a core value in Sweden’s foreign policy.

    So let me say this: countries that stand up for women’s and girls’ rights are not only champions of freedom and human rights. They also benefit from broad labour market participation and economic growth.

    Respect for human rights, providing sexual and reproductive health and rights services, and empowering young girls and women are tangible contributions to advancing gender equality. This is what I want for the future of my daughter and for the daughters of others, too.

    Simply put, our free society must stand up against those who wish to exploit our freedom to restrict the freedom of others. Everyone must be able to live safely and freely, regardless of religious beliefs or personal convictions, regardless of skin colour and regardless of whom they love. To my government, this is of such importance that we have begun work on an action plan for equal rights and opportunities for LGBTQI people.

    The green and digital transition offers vast opportunities in terms of new jobs, increased growth and improved livelihoods. Sweden aims to become climate-neutral by 2045, at the latest. As early movers, we want to show that it is possible to reduce emissions while maintaining economic growth. At the same time, global ambitions on climate action and climate financing must be raised. Here as well, we are increasing our support even further and enhancing its effect, advancing innovative financial models to mobilise more private capital.

    Mr President,

    The many crises in our world today have shed a harsh light on the need for reforms of our multilateral system. We need global governance structures that can withstand the challenges of our time and that are resilient against malevolent attempts to undermine the UN Charter.

    Action – implementation and follow-up – must be our approach as we look forward and take stock of the Summit of the Future and the Pact adopted there.

    The UN Security Council – the body entrusted with the ultimate responsibility to maintain international peace and security – must be effective, transparent and accountable.

    Sweden supports a balanced expansion of the Security Council to better reflect current global political and economic realities. This can be achieved by such means as adding new permanent and non-permanent seats, including for African countries.

    Sweden also supports the ongoing reform processes in multilateral development banks to increase the effectiveness and scale of financing to achieve the Sustainable Development Goals and implement the Paris Agreement.

    Another area where strengthened global governance is essential is outer space. Modern societies are becoming more and more dependent on space services and the space environment is becoming increasingly congested and contested.

    Sweden is strongly committed to preventing an arms race in outer space and safeguarding the use of space for peaceful purposes. This includes all states’ full compliance with existing international law, including the Outer Space Treaty. We will continue to promote the development of norms and rules for responsible behaviour in space.

    Together with Zambia, Sweden is proud to have co-facilitated the Global Digital Compact. Through this framework, all Member States have committed to strengthen international cooperation to close digital divides between and within countries and to establish the governance required for a sustainable digital future, including on Artificial Intelligence.

    Rest assured, Sweden will continue to fulfil its responsibility and be an active, engaged and constructive multilateral actor. We will continue to be a close – and demanding – partner to the UN. We will constructively demand more.

    More efficiency, more coherence, more impact, more innovation. This is how we will achieve our shared ambitions for the future, together.

    Mr President,

    This is a moment of major existential challenges. But we must not allow anything to stop us from defending the fundamental principles that form the foundation of this organisation.

    It is true that there are areas where international law needs to be developed to meet new challenges. However, it is equally true that hundreds of millions of people have been lifted out of poverty based on the norms, purposes and principles enshrined in the UN Charter.

    Global health and well-being have reached unprecedented levels. People across the globe are enjoying justice, peace, freedom and prosperity at levels unimaginable to previous generations.

    It is a legacy to be proud of. One that we must all do everything we can to uphold.

    Thank you.

    MIL OSI Europe News

  • MIL-OSI Europe: Statement on advisory against travel to Lebanon

    Source: Government of Sweden

    Statement on advisory against travel to Lebanon – Government.se

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    The security situation in Lebanon is serious and unpredictable, and it could deteriorate very quickly.

    Since October 2023, the Ministry for Foreign Affairs has advised against all travel to Lebanon. The Ministry also urges all Swedes who, despite the official advice, are currently in the country to leave as soon as possible. 

    Despite the serious situation and the advice against travel, it is estimated that at least 2 000 Swedes are currently in Lebanon. In addition, more than 5 000 Swedes are expected to travel to the country in the coming weeks. This is deeply concerning and serious.

    An advisory against all travel to a country and urging people to leave is the Ministry for Foreign Affairs’ most stringent advisory. It is a very strong signal that the security situation is serious and can rapidly change. It means that the Ministry and the Embassy have very limited opportunities to help people who may need consular support. 

    Anyone who chooses to stay in, or travel to, Lebanon bears a high degree of personal responsibility.

    It is important that anyone who – in the current situation – chooses to stay in or travel to Lebanon be aware that the Ministry for Foreign Affairs and the Embassy will have severely limited possibilities to provide consular support if the situation deteriorates. 

    Short cuts

    MIL OSI Europe News

  • MIL-OSI Europe: Joint Statement on Ukraine Energy Sector Support

    Source: Government of Sweden

    We, the G7+ Ministerial Group, met on the margins of the 79th Session of the United Nations General Assembly to reaffirm our unwavering support for Ukraine in the face of Russia’s brutal and unjust attacks on Ukraine and it’s energy infrastructure.

    We reaffirm our strong commitment to the territorial integrity, independence, and sovereignty of Ukraine within its internationally recognized borders and to focus on the key priorities needed to achieve a comprehensive, just, and lasting peace based on international law, including the UN Charter and its principles.

    We strongly condemn Russia’s continuous missile and drone strikes against Ukraine’s energy infrastructure and cities across Ukraine, which have escalated since March 2024 and severely threaten Ukraine’s energy security and the Ukrainian people’s access to critical services including electricity, heat, and water during the cold winter months, which could be the harshest for Ukraine since at least its independence. We highlight the regional implications of such attacks, notably on the Republic of Moldova’s energy security. Russia must end its war of aggression and pay for the damage it has caused.

    We recommit to supporting Ukraine’s immediate, medium, and long-term recovery and reconstruction in line with its path towards the EU and to work to involve our private sectors and local governments in the sustainable economic and social recovery of Ukraine. We welcome and underscore the significance of Ukraine’s commitment to business-enabling reforms that will establish a level playing field for investment in the energy sector. We stress the importance of the implementation of the National Energy and Climate Plan and the monitoring of this process. We will continue to support efforts of the Ukrainian government and people in these endeavors.

    We stress the importance of implementation of energy sector reforms in line with the EU accession path and fulfilling obligations under the Energy Community Treaty, including OECD-compliant corporate governance standards. This is especially crucial ahead of the winter, given the scale of repairs and new energy infrastructure needs.

    We acknowledge the need for international assistance to protect energy infrastructure from attacks, including through the strengthening of Ukraine’s air defense capabilities by the committed countries, and reaffirm our readiness to continue providing such assistance.

    We condemn Russia’s seizure and continued control and militarization of Ukraine’s Zaporizhzhia Nuclear Power Plant, which threatens energy security. We emphasize that any use of nuclear energy and nuclear installations must be safe, secured, safe-guarded, and environmentally sound. With reference to the UNGA resolution from 11 July on “Safety and security of nuclear facilities of Ukraine, including the Zaporizhzhia Nuclear Power Plant” we stress that Zaporizhzhia Nuclear Power Plant must return to the full sovereign control of Ukraine in line with IAEA principles and under its independent supervision.

    We are convinced that rebuilding Ukraine’s energy system in the short and long term is in the interest of enhancing global energy security and sustainability.

    We welcome further commitments to provide funding and in-kind support to address the Ukrainian energy sector’s most urgent needs, including repairs of damaged power plants and district heating systems, deployment of new, distributed power generation, emergency backup power for critical services, and passive protection for energy infrastructure. We call on the global community to urgently strengthen efforts in that regard and provide Ukraine with all assistance needed.

    We underline the important work of international partners, banks, and the Energy Community’s “Ukraine Energy Support Fund” in this regard. We call upon international partners to elevate their financial contributions, in particular to the latter fund in order to improve Ukraine’s resilience next winter.

    Based on the work of the Working Group on Energy Security and the outcomes of the First Global Peace Summit held on 15-16 June 2024 in Bürgenstock, Switzerland, as well as the results of a productive and constructive dialogue at the Energy Security Conference held on 22 August 2024, we reaffirm our unwavering commitment to achieving a comprehensive, just, and lasting peace for Ukraine.

    Based upon the Japan-Ukraine Conference for the Promotion of Economic Growth and Reconstruction in Tokyo, the 2024 Ukraine Recovery Conference (URC) in Berlin and looking ahead to the November 2024 UN Climate Change Conference (COP29) and the 2025 URC in Italy, we are committed to continue supporting immediate needs and Ukraine’s vision of a more decentralized, diversified, resilient, and renewable/sustainable energy system that is fully integrated with Europe.

    MIL OSI Europe News

  • MIL-OSI China: China among fastest risers in world’s most innovative economies ranking: WIPO

    Source: China State Council Information Office

    China moved up one spot to 11th place in the ranking of the world’s most innovative economies, making it one of the fastest risers over the past decade, according to the Global Innovation Index (GII) 2024 released by the World Intellectual Property Organization (WIPO) Thursday.

    China remains the only middle-income economy in the top 30 while Switzerland, Sweden, the United States, Singapore and the United Kingdom are the world’s top-ranked innovative economies, according to the GII.

    The 17th edition of the GII, which serves as a critical benchmark for global innovation trends, reveals that despite some countries’ rapid climb, the broader innovation landscape faces challenges.

    Venture capital funding dropped by about 40 percent in 2023, reversing the boom between 2020 and 2022. Additionally, growth in research and development expenditures has slowed, alongside a decline in international patent filings and scientific publications.

    “However, technological progress remained strong in 2023, particularly in health-related fields like genome sequencing, as well as in computing power and electric batteries,” said WIPO Director-General Daren Tang.

    “Technology adoption also deepened, especially in 5G, robotics, and electric vehicles. This year’s GII also reveals positive trends in key indicators, including a decline in global poverty and rises in labor productivity and life expectancy,” he added.

    MIL OSI China News

  • MIL-OSI: Bitdeer Completes Testing of its Latest SEAL02 Bitcoin Mining Chip

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Sept. 26, 2024 (GLOBE NEWSWIRE) — Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced the successful testing of its latest Bitcoin mining chip, SEAL02, following tape-out.

    SEAL02 uses one of the most advanced process nodes in partnership with TSMC, a world-leading semiconductor foundry. An exceptional power efficiency ratio of 13.5 J/TH – while running at low voltage, ultra power-saving mode – was indicated in SEAL02 chip’s verification and prototype tests, achieving the power efficiency milestone outlined in the SEALMINER technology roadmap announced in June 2024.

    Linghui Kong, Chief Business Officer of Bitdeer, commented, “We are thrilled about achieving SEALMINER’s power efficiency target as reflected in our roadmap. Our ongoing commitment to R&D is making possible innovative and superior solutions that will set new benchmarks for efficiency and transparency to benefit the wider mining ecosystem.”

    SEAL02 will be integrated into the Company’s upcoming SEALMINER A2 mining machines, with mass production scheduled to commence in November 2024.

    Additionally, R&D work on the Company’s upcoming chip, SEAL03, is ongoing and the Company’s product release milestone is on track.

    Bitdeer has a full-fledged team of professional engineers dedicated to R&D across key domains, including ASIC design, algorithm development, platform architecture, software and hardware. The Company will continue to work alongside its customers in contributing to the security of the Bitcoin decentralized network.

    About Bitdeer Technologies Group

    Bitdeer is a world-leading technology company for blockchain and high-performance computing. Bitdeer is committed to providing comprehensive computing solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan. To learn more, visit https://www.bitdeer.com/ or follow Bitdeer on X @ BitdeerOfficial and LinkedIn @ Bitdeer Group.

    Investors and others should note that Bitdeer may announce material information using its website and/or on its accounts on social media platforms, including X, formerly known as Twitter, Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and others to review the information it posts on the social media and other communication channels listed on its website.

    Forward-Looking Statements

    Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

    Contact:

    Public Relations
    Wachsman
    Bee Shin
    bitdeer@wachsman.com

    The MIL Network

  • MIL-OSI USA: The United States and Partners Mobilize $517 Million to Support Democratic Openings Around the World

    Source: USAID

    Today, USAID Administrator Samantha Power, in partnership with the Ford Foundation, convened bilateral partners, democratic reformist government leaders, philanthropic partners, and civil society to collectively announce over $517 million to support countries experiencing democratic openings globally.

    On the sidelines of the United Nations General Assembly, the U.S. government deepened its commitment to supporting democratic “bright spots” by working with Congress to announce over $73 million towards USAID’s Democracy Delivers Initiative. Administrator Power also announced that Guatemala will join the Initiative, following Fiji’s entry in June, as both countries experience historic windows of democratic opportunity. With this announcement, the Democracy Delivers Initiative now supports Armenia, Dominican Republic, Ecuador, Fiji, Guatemala, Malawi, Maldives, Moldova, Nepal, Tanzania, and Zambia. Leaders from these countries joined the event to highlight their countries’ democratic progress and to welcome new investments and collaborations furthering democratic resilience.

    As part of the U.S. commitment, the U.S. International Development Finance Corporation (DFC) announced over $348 million in newly committed transactions in Moldova, Tanzania, and Zambia, bringing their total investment to over $2.38 billion for projects in Democracy Delivers countries since 2022. The Inter-American Foundation also announced $3.3 million in new investments in the Dominican Republic, Ecuador, and Guatemala.

    Administrator Power announced that like-minded partners – including Australia, Canada, Denmark, Estonia, Finland, Germany, Ireland, New Zealand, Norway, Spain, Sweden, Switzerland, and the United Kingdom – jointly committed to supporting democratic openings throughout their development and diplomatic agendas and to bolstering information resilience. 

    Expanding the Democracy Delivers Commitment to Action launched at UNGA in 2023, philanthropic partners announced new commitments totaling up to $92.4 million to support Democracy Delivers countries and objectives. As an anchor partner and host for the 2024 event, Ford Foundation announced $8 million to support democratic opportunity, including in Guatemala. The following foundations also made commitments: The Rockefeller Foundation, Chandler Foundation, Focus Central America, Hilton Foundation, Luis von Ahn Foundation, Rockefeller Brothers Fund, Skoll Foundation, Tinker Foundation, Vodafone Foundation, and WINGS.

    Secretary of State Antony Blinken and Administrator Power launched the Democracy Delivers Initiative in 2022 to bring together a multi-stakeholder coalition of partners and surge resources to countries undergoing moments of democratic renewal to help deliver tangible, lasting progress for citizens. By prioritizing responsiveness to citizen needs and enhancing transparency and accountability, these commitments will strengthen government reform efforts and facilitate improvements to public services. 

    Continuing the momentum of the Summit for Democracy process and building upon previous Democracy Delivers events, the gathering underscored the United States’ continued commitment to convening the world’s democracies in order to galvanize sustained collective action and ensure that democracy delivers opportunity and dignity for all.

    We encourage all organizations to join us.

    MIL OSI USA News

  • MIL-OSI USA: Administrator Samantha Power at the Democracy Delivers Event

    Source: USAID

    ADMINISTRATOR SAMANTHA POWER: Thank you. It is wonderful to be here with so many friends and co-conspirators and people who stand for dignity and democracy every day. I feel incredibly privileged, honestly, to be a part of this initiative. 

    I could have no better partner in Darren Walker, our incomparable anchor partner in the Democracy Delivers Initiative – the co-host for the second year in a row. Some of you know that Darren will be departing from his leadership role at Ford [Foundation]. None of us can imagine the thought of him not performing this role. He is such a giant in supporting civil society, in supporting human dignity, individual dignity around the world. But, we were thrilled, Darren, to think of what you will do next and the difference you will make in whatever walk of life you pursue. You are a walking catalyst for change, and we feel incredibly grateful to you and to the Ford Foundation for all that you do everyday. So, thank you. 

    Thanks to everybody here who’s joining, as well as all of those online. This is a club that we wish more people wanted to be a member of – a gathering of nations who are pursuing really tough political reforms and who are doing so in the face of even tougher economic headwinds often.

    Two years ago, we first brought this group together amidst a wave of very familiar pessimism, talk of authoritarians emboldened, and democracies under attack. And, honestly, in looking back, too often this pessimism over recent years has overshadowed the bright spots of democratic progress springing up in many places around the world. And, they will always spring up because citizens will never relent when their dignity is denied and when they lack agency over their futures. So, we have seen it: citizens standing up, demanding change, and electing leaders who they were trusting to deliver on that promise. 

    Of course, if we did not focus on these movements – as I think traditionally, we really had not sufficiently – we weren’t focusing on them as movements and as reform engines. Then, it was also very unlikely we were going to focus our support on them in an intentional way. And, that, as we have seen, is a critical mistake. Because often democratic reformers come into office facing really, really significant challenges: entrenched corruption, weak institutions, often debt burdens that prevent them from making the investments that their people need and that their people expect. For reformers to have a fighting chance of delivering on the change that their people demand, they need allies. And, that is fundamentally what this network is about. 

    So, Secretary [Antony] Blinken and I, on behalf of President [Joe] Biden, launched the Democracy Delivers Initiative to help provide the support these reformers need. Secretary Blinken today, unfortunately, just got pulled into an urgent obligation with President Biden and is sorry to be missing us today. But, he – and we – take note of the fact that since 2022, in the short time this Democracy Delivers Initiative has been underway, USAID alone has increased our funding for the original cohort of nine Democracy Delivers countries by over $300 million. That is an increase of over 38 percent.

    At the same time, we knew all along that the true power of this initiative would be bringing others on board to surge support to these democratic bright spots as well. Because the beauty of democratic progress is that it creates opportunity for all. So, at this event, back in 2022, we rallied companies to invest in countries experiencing democratic openings, knowing that improvements in the rule of law, increased transparency, and unleashed innovation make democracies ideal places for private investment.  

    At this event, then a year later and a year ago, in 2023, we rallied philanthropies, many represented here today, to focus their giving, their investments in these places as well, knowing that democratic openings create opportunities to drive change that endures – in partnership with leaders who are not standing in the way of progress they see as somehow threatening, but instead championing and seeking to scale good ideas. 

    This year, the third of these meetings, we are pleased to be joined by other bilateral government partners who, like us, see the opportunity that democratic openings create and are committed to supporting them in their own foreign policy and in their own assistance. I am pleased to announce that today we are releasing a joint statement endorsed by 12 countries so far: Australia, Estonia, Canada, Denmark, Germany, Ireland, Finland, New Zealand, Sweden, Switzerland, Spain, and the United Kingdom. Most of these partners are here with us today, committing all of us in this statement to elevating attention to democratic renewal around the world, and committing to look at the ways in which they can increase support across sectors as we work together to make these openings not just moments but movements. 

    This approach is particularly important now as we continue to see new, promising democratic bright spots emerge. 

    And so, just this past June, we welcomed Fiji to the Democracy Delivers Initiative, following on the heels of the first peaceful transfer of power in Fiji’s history which occurred nearly two years ago. And, today, I’m thrilled as well now to announce that Guatemala will be the newest country joining the cohort. 

    Earlier this year, I traveled to Guatemala for the inauguration of President [Bernardo] Arévalo who’s joining us here today. The anti-democratic forces who had been working for months to prevent the president-elect from taking power tried every procedural maneuver that they could to deny the will of the Guatemalan people, delaying the inauguration for nearly ten hours – was it ten hours? But who was counting? And casting into doubt – genuinely casting into doubt – the peaceful transfer of power. But, the people of Guatemala insisted that their will be respected, and they prevailed. After midnight, technically, the day after the inauguration was supposed to occur, President Arévalo finally took the oath of office to an electric crowd chanting, “sí se pudo” – yes, we did.

    Now, as president Arévalo attempts to overcome those same undemocratic forces to deliver on the change that he promised, many of our partners are already surging support. Just to name a few – and you’ll get to hear from others later on – the Inter-American Foundation is helping Guatemala invest in providing the economic opportunities and security that citizens need to build their futures at home. The Tinker Foundation is investing in Guatemala’s education system. The Rockefeller Brothers Fund and Focus Central America are each investing in Guatemalan civil society organizations advancing democracy and justice. 

    Today, we are going to hear from President Arévalo and other leaders who are taking on extraordinary odds to deliver change for their people. And, we are going to hear commitments that partners around the world are making to support this progress. We have many partners with us. So, to make sure we stay on time and can hear from everyone, our timekeeper, Jacob, will help us stay on track – including helping me stay on track. 

    And, to kick us off, I am pleased to announce that USAID will commit an additional $73 million to support democratic development in Democracy Delivers partner countries. This is on top of our programming that we are doing across sectors that many of you are familiar with. But, this new funding is going to support priorities like energy security in Armenia; job growth in Guatemala and Tanzania; public service delivery in Ecuador, Malawi, and Zambia; and democratic governance and anti-corruption efforts in the Dominican Republic, the Maldives, Moldova, and Nepal. And, in recent months, we’ve announced nearly $6 million to support inclusive democratic systems, sustainable local food production, and climate adaptation in Fiji.

    And now, I would like to introduce the President of Fiji, President [Wiliame] Katonivere. Last year, I had the chance, sir, to visit Fiji and to officially establish USAID’s Mission there on the ground. Next week, USAID Deputy Administrator Isabel Coleman, will be leading an interagency delegation to Fiji and other Pacific Islands to continue strengthening our collaboration.

    Let me officially welcome you and the people of Fiji to this Democracy Delivers Initiative. The floor is yours.

    MIL OSI USA News

  • MIL-OSI United Kingdom: Immediate measures to step up safeguards against African swine fever from Europe

    Source: United Kingdom – Executive Government & Departments

    The mitigation measures will help to prevent the spread of ASF across the border, protecting the pig sector worth over £8 billion to the UK economy 

    Immediate measures have been introduced to protect pig farmers and industry from an African swine fever (ASF) outbreak. 

    ASF is a highly contagious and deadly disease in pigs and wild boar that can be transmitted through infected meat, but poses no risk to human health. The new safeguarding rules will help protect UK livestock by mitigating its spread across the border to the UK.  

    To safeguard the UK’s pig and farming industries, personal imports of pork and pork products from the EEA (European Economic Area), the Faroe Islands, Greenland and Switzerland will be banned from tomorrow (Friday 27th September), unless such products are manufactured and packaged to EU commercial standards and weigh less than a maximum of 2kg. 

    An outbreak of ASF could have a significant impact on the UK’s £8 billion pig industry, as well as its annual pork and pork product exports worth £600 million. It is estimated that an outbreak could cost the UK between £10 million to £100 million.  

    Biosecurity Minister Baroness Hayman said:  

    African swine fever is a deadly disease wreaking havoc in Europe.   

    These new measures will protect British pig farmers and pork products, preventing infected meat from being brought over the border and threatening our biosecurity.

    The UK has never had an outbreak ASF, and commercial meat imports are routinely checked at the border to ensure infected goods do not reach UK shores. 

    Preventing an outbreak of ASF in the UK remains one of Defra’s key biosecurity priorities, and it keeps policy on personal meat and dairy imports under constant review, as well as works closely with devolved governments on contingency planning and preventing an incursion from infected goods. 

    Those found to bring pork or pork products illegally may be fined up to £5,000 in England. Products will be seized and destroyed on arrival.  

    Defra is investing £3.1 million to Dover Port Health Authority for 2024/25 to help Border Force tackle illegal meat imports and keep African Swine Fever out of Great Britain.

    Updates to this page

    Published 26 September 2024

    MIL OSI United Kingdom

  • MIL-OSI Security: NATO announces launch of the third cycle of the Young Professionals Programme

    Source: NATO

    We are pleased to inform you that the third cycle of the NATO Young Professionals Programme (YPP) is now open for applications!

    Are you a young professional, interested in accelerating your career by gaining experience working for a political and military alliance that protects one billion people?

    If you are a citizen of a NATO member country with a Master’s degree and at least one year of work experience, the YPP offers a unique opportunity to work with NATO for three years across different countries and NATO bodies.

    For the third cycle of the YPP there are 13 positions available for talented people from a wide variety of educational and professional backgrounds, including:

    • Data Science and Innovation
    • Economics and Finance
    • Engineering and Logistics
    • Human Resources
    • ICT and Cyber Security
    • International Political Affairs
    • Legal Affairs
    • Marketing and Communications
    • Programme and Project Management

    The deadline to apply is 27 October 2024. We encourage you to apply well in advance.

    For more information about the NATO Young Professionals Programme, including eligibility criteria and the full application process, please visit the Young Professionals Programme web page.  

    Following Sweden’s accession to NATO on 7 March 2024 as NATO’s 32nd member, we are pleased to announce that Swedish nationals are welcome to apply to the Young Professionals Programme, alongside candidates from NATO’s 31 other member countries.

    MIL Security OSI

  • MIL-OSI: Nokia Bell Labs and e& announce R&D collaboration to innovate for strategic industrial sectors

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia Bell Labs and e& announce R&D collaboration to innovate for strategic industrial sectors

    • Collaboration is expected to develop AI-based use cases for strategic industrial sectors.
    • Responsible AI solutions aim for sustainable enterprise and industrial automation applications.

    26 September 2024
    Espoo, Finland – Nokia’s research arm, Nokia Bell Labs, and e&, a global technology group, announced today that they have signed a year-long, non-binding memorandum of understanding (“MoU”) for R&D collaboration to create AI-based use cases for strategic industrial sectors.

    The goal is to develop responsible AI solutions for sustainable enterprise and industrial automation applications and accelerate innovation concepts toward real world deployments.

    The MoU includes exploring collaboration opportunities with industry, universities and research centers. Both organizations aim to develop innovative solutions in the areas of AI and information and communication technologies that fit into an overall vision of industrial automation and digitalization. Network connectivity, AI and advanced computing are foundational in solving the difficult industrial challenges of productivity, efficiency, safety, health and sustainability faced by many industrial sectors today.

    e& has emerged as a pioneering force of AI and Generative AI in the United Arab Emirates and its 33 operating markets in addition to declaring its commitment to reach net zero status in its home market of the UAE by 2030 and across all operations by 2040.

    Nokia Bell Labs is an industry leader in Responsible AI and has defined six principles to guide AI research in the future along the lines of fairness, reliability, privacy, transparency, sustainability and accountability. These principles not only reflect the future of AI standards but also comprehensively account for the telecom industry’s renewed focus on environmental sustainability, social responsibility and good governance.

    Thierry E. Klein, President of Bell Labs Solutions Research at Nokia, said: “This engagement between Nokia Bell Labs and e& reflects our commitment to innovating with our customers and partners. By jointly developing applications and use cases that leverage our expertise in responsible AI, software and data systems, we will accelerate the digital transformation that provides new technologies for a safer, more productive and more sustainable future. We look forward to co-creating ground-breaking solutions that can unlock new business opportunities for industrial operations in the Middle East and beyond.”

    Dena Almansoori, Group Chief AI and Data Officer at e&, said: “While we realise the immense potential of AI, it’s equally important to build strong protections to ensure its responsible development and deployment. This will be the foundation of our collaboration with Nokia Bell Labs as we both explore the potential of AI in driving sustainable industrial automation. By combining Nokia Bell Labs’ expertise in AI research and our deep understanding of industrial applications, we are set to explore the development of innovative solutions that address the urgent challenges facing industries today.”

    Resources and additional information
    Webpage: Nokia Bell Labs
    Webpage: e&

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    About e&
    e& is one of the leading technology groups in the world. Boasting impressive financial figures for 2023, with consolidated net revenue reaching a staggering AED 53.8 billion and consolidated net profit surging to AED 10.3 billion, the Group’s impeccable credit ratings reflect its strong balance sheet and track record of sustained success.

    Founded in Abu Dhabi over 48 years ago, the Group has a rich legacy as the pioneer in telecommunications in the UAE. Today, its footprint spans 33 countries, including STARZPLAY and Careem Everything app across the Middle East, Asia, and Africa, making it a leading player in the industry.

    Innovation is ingrained in e&’s DNA to create an unbreakable bond between communities using cutting-edge digital solutions, smart connectivity and advanced technologies.

    The Group has designed five strong business pillars that address various customer segments: e& UAE, e& international, e& life, e& enterprise and e& capital. Through these pillars, we strive to revolutionise the way people communicate, work and live by providing unparalleled services and exceptional experiences.

    At e&, we are committed to pushing the boundaries of what is possible and delivering measurable results that make a difference in people’s lives.

    To learn more about e&, please visit: https://eand.com/

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network

  • MIL-OSI: Nokia Bell Labs and e& announce R&D collaboration to innovate for strategic industrial sectors

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia Bell Labs and e& announce R&D collaboration to innovate for strategic industrial sectors

    • Collaboration is expected to develop AI-based use cases for strategic industrial sectors.
    • Responsible AI solutions aim for sustainable enterprise and industrial automation applications.

    26 September 2024
    Espoo, Finland – Nokia’s research arm, Nokia Bell Labs, and e&, a global technology group, announced today that they have signed a year-long, non-binding memorandum of understanding (“MoU”) for R&D collaboration to create AI-based use cases for strategic industrial sectors.

    The goal is to develop responsible AI solutions for sustainable enterprise and industrial automation applications and accelerate innovation concepts toward real world deployments.

    The MoU includes exploring collaboration opportunities with industry, universities and research centers. Both organizations aim to develop innovative solutions in the areas of AI and information and communication technologies that fit into an overall vision of industrial automation and digitalization. Network connectivity, AI and advanced computing are foundational in solving the difficult industrial challenges of productivity, efficiency, safety, health and sustainability faced by many industrial sectors today.

    e& has emerged as a pioneering force of AI and Generative AI in the United Arab Emirates and its 33 operating markets in addition to declaring its commitment to reach net zero status in its home market of the UAE by 2030 and across all operations by 2040.

    Nokia Bell Labs is an industry leader in Responsible AI and has defined six principles to guide AI research in the future along the lines of fairness, reliability, privacy, transparency, sustainability and accountability. These principles not only reflect the future of AI standards but also comprehensively account for the telecom industry’s renewed focus on environmental sustainability, social responsibility and good governance.

    Thierry E. Klein, President of Bell Labs Solutions Research at Nokia, said: “This engagement between Nokia Bell Labs and e& reflects our commitment to innovating with our customers and partners. By jointly developing applications and use cases that leverage our expertise in responsible AI, software and data systems, we will accelerate the digital transformation that provides new technologies for a safer, more productive and more sustainable future. We look forward to co-creating ground-breaking solutions that can unlock new business opportunities for industrial operations in the Middle East and beyond.”

    Dena Almansoori, Group Chief AI and Data Officer at e&, said: “While we realise the immense potential of AI, it’s equally important to build strong protections to ensure its responsible development and deployment. This will be the foundation of our collaboration with Nokia Bell Labs as we both explore the potential of AI in driving sustainable industrial automation. By combining Nokia Bell Labs’ expertise in AI research and our deep understanding of industrial applications, we are set to explore the development of innovative solutions that address the urgent challenges facing industries today.”

    Resources and additional information
    Webpage: Nokia Bell Labs
    Webpage: e&

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    About e&
    e& is one of the leading technology groups in the world. Boasting impressive financial figures for 2023, with consolidated net revenue reaching a staggering AED 53.8 billion and consolidated net profit surging to AED 10.3 billion, the Group’s impeccable credit ratings reflect its strong balance sheet and track record of sustained success.

    Founded in Abu Dhabi over 48 years ago, the Group has a rich legacy as the pioneer in telecommunications in the UAE. Today, its footprint spans 33 countries, including STARZPLAY and Careem Everything app across the Middle East, Asia, and Africa, making it a leading player in the industry.

    Innovation is ingrained in e&’s DNA to create an unbreakable bond between communities using cutting-edge digital solutions, smart connectivity and advanced technologies.

    The Group has designed five strong business pillars that address various customer segments: e& UAE, e& international, e& life, e& enterprise and e& capital. Through these pillars, we strive to revolutionise the way people communicate, work and live by providing unparalleled services and exceptional experiences.

    At e&, we are committed to pushing the boundaries of what is possible and delivering measurable results that make a difference in people’s lives.

    To learn more about e&, please visit: https://eand.com/

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network

  • MIL-OSI: Innofactor Plc: Notification of major holdings in accordance with Chapter 9, Section 10 of the Finnish Securities Markets Act

    Source: GlobeNewswire (MIL-OSI)

    Innofactor Plc                Stock exchange release        September 26, 2024, at 9:45 (EEST)

    Innofactor Plc has on September 25, 2024, received a notification from Onni Bidco under Chapter 9, Section 5 of the Finnish Securities Markets Act, according to which Onni Bidco Oy’s direct holding in Innofactor’s shares increased above the 30 percent threshold.

    Total positions of Onni Bidco Oy according to the notification:

             
      % of shares and voting rights % of shares and voting rights through financial instruments Total of both in % Total number of shares and voting rights of issuer
    Resulting situation on the date on which threshold was crossed or reached 30.09
    (+50.32)        
    0.41 30.49
    (+50.32 = 80.81)
    36,343,691
    Positions of previous notification
    (if applicable)
    28.37 21.84 50.20  

    Notified details of the resulting situation on the date on which the threshold was crossed or reached:

    A: Shares and voting rights

    Class / type of shares Number of shares and voting rights % of shares and voting rights
      Direct (SMA 9:5) Indirect (SMA 9:6 and 9:7) Direct (SMA 9:5) Indirect (SMA 9:6 and 9:7)
    Onni Bidco: Innofactor Plc share FI0009007637 10,934,048
    (+18,288,674)
      30.09
    (+50.32)
     
    Subtotal A 10,934,048
    (+18,288,674)
    30.09
    (+50.32)

    B: Financial instruments according to SMA 9:6a

    Type of financial instrument Expiration date Exercise / Conversion period Physical or cash settlement Number of shares and voting rights % of shares and voting rights
    Tender offer consortium agreement     Share delivery through the acceptance of the tender offer 148,127 0.41
      Subtotal B 148,127 0.41

    Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity:

    Name % of shares and voting rights % of shares and voting rights through financial instruments Total of both
    CapMan Growth Equi-ty Fund III Ky              
    Onni Topco Oy      
    Onni Midco Oy      
    Onni Bidco Oy 30.09
    (+50.32)
    0.41 30.49
    (+50.32 = 80.81)

    Further, according to Onni Bidco Oy’s notification:

    CapMan Growth Equity Fund III Ky, a fund managed by the investment company CapMan Growth (CapMan Growth), Sami Ensio, through the holding company Ensio Investment Group Oy controlled by him, and co-investor Osprey Capital Oy have formed a consortium for the purposes of the public tender offer for the shares in Innofactor Plc made on 22 July 2024. Onni Bidco Oy, the offeror, formed for the purposes of the public tender offer, is currently owned by CapMan Growth. Onni Bidco Oy has acquired shares of Innofactor Plc through transactions made on September 25, 2024, resulting in a direct ownership of 10,934,048 shares and its direct ownership of shares and the voting rights they generate has now exceeded the 30 percent threshold. In accordance with the announcement made on September 19, 2024, regarding the final result of Onni Bidco Oy’s public tender offer, Onni Bidco Oy has decided to proceed with the public tender offer in accordance with its terms. Therefore, the 18,288,674 shares validly tendered in the public offer (including the shares under the control of Sami Ensio, excluding certain shares received as board remuneration totaling 148,127), which represent approximately 50.32 percent of Innofactor Plc’s shares and voting rights, will be transferred to the ownership of Onni Bidco Oy following the completion of the transactions related to the public tender offer, with the transfer expected to be finalized around October 10, 2024. These shares have been reported in this notification as the direct ownership of Onni Bidco Oy in parentheses, as the completion of the tender offer has been confirmed. According to an agreement between the consortium members, Sami Ensio has undertaken, subject to certain conditions and potential limitations, to accept the public tender offer in respect of all Innofactor Plc shares under his control. As the consortium members are acting in consert in making the public tender offer, the 148,127 shares obtained as board remuneration that are still under the control of Sami Ensio disclosed in this notification are disclosed as ownership based on a financial instrument. Although the ownership of the parties acting in concert now exceeds both 30 and 50 percent of the voting rights generated by Innofactor Plc’s shares, there is no obligation to make a mandatory public tender offer due to the exemption provided by Section 21, first paragraph, of Chapter 11 of the Securities Markets Act. 

    Espoo, September 26, 2024

    INNOFACTOR PLC

    Antti Rokala, CFO

    Additional information:
    Antti Rokala, CFO, antti.rokala@innofactor.com, +358 40 480 2752
    Lasse Lautsuo, CMO, ir@innofactor.com, +358 50 480 1597

    Distribution:
    NASDAQ Helsinki
    Main media
    http://www.innofactor.com

    Innofactor
    Innofactor is the leading driver of the modern digital organization in the Nordic Countries for its about 1,000 customers in commercial and public sector. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor has about 600 enthusiastic and motivated top specialists in Finland, Sweden, Denmark and Norway. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ Helsinki Oy. http://www.innofactor.com #ModernDigitalOrganization #PeopleFirst #CreatingSmiles #BeTheRealYou

    The MIL Network

  • MIL-OSI: Virtune AB (Publ) announces its expansion into France through the listing of Virtune Staked Solana ETP on Euronext Paris

    Source: GlobeNewswire (MIL-OSI)

    Paris, 26th of September 2024 — Virtune, a Swedish regulated digital asset manager and issuer of crypto Exchange Traded Products (ETPs) based in Stockholm, Sweden, announces its expansion into France through the listing of its Virtune Staked Solana ETP on Euronext Paris.

    With strong traction and consistent inflows in the Nordic regions driven by increasing interest and crypto adoption, expanding into France is a strategic milestone for Virtune. Virtune has since its inception in May 2023 been growing rapidly in the Nordics where it has listed a total of 12 products and reached more than 31 000 investors in its products in just about one year.

    The key success factors have been an educational focus, a transparent market approach and through its regulated status. This move not only addresses growing investor enthusiasm but also enhances our market presence across Europe.

    Christopher Kock, CEO of Virtune, stated:

    “We are thrilled to expand into France with the introduction of our Staked Solana ETP to the French investor community after its successful launch in the Nordic markets. Since our inception in May 2023, we have worked tirelessly to drive crypto adoption through educational efforts in the Nordics and we are excited to extend these efforts to the French financial market. This ETP provides investors with enhanced exposure to Solana, one of the leading and most influential blockchains globally, while also offering additional returns through included staking.”

    About Virtune Staked Solana ETP
    Virtune Staked Solana ETP provides exposure to Solana combined with the benefits of staking. With staking incorporated, the ETP offers an additional annual return of approximately 3% on the investment made in the ETP, while at the same time offering an attractive annual fee of 0.95%.

    Like all of Virtune’s ETPs, Virtune Staked Solana ETP is 100% physically backed and fully collateralized, is denominated in EUR for the French audience and is available on brokerage platforms. Virtune uses Coinbase as the crypto custodian where the underlying SOL tokens are being stored with highest institutional grade security in cold-storage. The underlying SOL tokens are being staked directly from cold-storage and the staking rewards are being reflected in the daily price of the ETP.

    Key Product Information:

    Exposure to Solana with approximately 3% annual return through staking
    100% physically backed by SOL
    0.95% annual management fee
    Non-custodial staking

    Virtune Staked Solana ETP:

    Trading Currency: EUR
    First Day of Trading: Tuesday, 17th of September 2024
    Euronext Exchange Ticker: VRTS
    Bloomberg Ticker: VIRSOL
    ISIN: SE0021309754
    Exchanges: Euronext Paris, Euronext Amsterdam, Nasdaq Stockholm

    About Virtune AB (Publ)
    Virtune is a registered financial institution with the Swedish Financial Supervisory Authority (FSA) for trading and managing digital assets and has an approved EU Base Prospectus, renewed with the Swedish FSA on April 5, 2024 which has enabled Virtune’s strategy of listing ETPs on regulated European exchanges. Virtune’s mission is to provide seamless access to crypto assets for both institutional and retail investors through innovative ETPs, transparency, and education.

    Virtune has a wide offering of crypto ETPs that includes Virtune Bitcoin ETP, Virtune Staked Ethereum ETP, Virtune Staked Solana ETP, Virtune Crypto Top 10 Index ETP, Virtune XRP ETP, Virtune Chainlink ETP, Virtune Avalanche ETP, Virtune Staked Polkadot ETP, Virtune Staked Polygon ETP, Virtune Arbitrum ETP and Virtune Staked Cardano ETP.

    About Solana
    Solana is a high-performance blockchain platform designed to offer fast and scalable decentralized application operations and cryptocurrency transactions. By using a unique consensus mechanism known as Proof of History (PoH) along with Proof of Stake (PoS), Solana can handle thousands of transactions per second with low transaction costs, which is a significant improvement over older blockchains like Bitcoin and Ethereum. This combination of technologies not only allows for instant transaction verification but also a significant increase in network throughput without compromising security or decentralization.

    About staking
    Staking enables crypto asset owners to earn passive income by participating in the validation and confirmation of transactions on a blockchain through a process known as Proof of Stake. This mechanism is a fundamental component of Proof of Stake blockchains, like Ethereum and Solana, and plays a vital role in ensuring the security and authenticity of blockchain transactions. To facilitate a transaction on the blockchain securely and accurately, a validator must stake a certain amount of crypto asset as a guarantee of the transaction’s legitimacy.

    The validator aims to stake as much crypto assets as possible to increase the likelihood of receiving rewards, which are paid out in the same type of crypto asset that was staked. For instance, if you stake Solana, you receive additional SOL tokens as a reward. The annual reward percentage for staking can vary and may range from 0-14% or higher for some blockchains. Most crypto asset holders cannot act as validators themselves, as it requires significant amounts of crypto assets. Therefore, many choose to stake their assets through an established and trusted validator. Virtune includes staking rewards in its products that have ‘staked’ included in their names.

    Flow Traders will act as the market maker for the ETP, ensuring that French investors can access the product easily and efficiently during Euronext market hours.

    Stockholm, 26th of September 2024

    For further inquiries, please contact:
    Christopher Kock, CEO & Member of the Board of Directors
    Email: hello@virtune.com

    About Virtune AB (Publ)
    Virtune with its headquarters in Stockholm is a regulated Swedish digital asset manager and issuer of crypto exchange traded products on regulated European exchanges.

    With regulatory compliance, strategic collaborations with industry leaders and our proficient team, we empower investors on a global level to access innovative and sophisticated investment products that are aligned with the evolving landscape of the global crypto market.

    Cryptocurrency investments are associated with high risk. Virtune does not provide investment advice. Investments are made at your own risk. Securities may increase or decrease in value, and there is no guarantee that you will recover your invested capital. Please read the prospectus, KID, terms at http://www.virtune.com.

    The MIL Network