Category: Trade

  • MIL-Evening Report: Promoted as a win-win, Australia’s Pacific island guest worker scheme is putting those workers at risk

    Source: The Conversation (Au and NZ) – By Matt Withers, Senior Lecturer, School of Sociology, Australian National University

    The Pacific Australia Labour Mobility Scheme (PALM) has been lauded by both sides of politics as a “win win” for the islanders who come here and the Australians who use their services.

    Australia’s Department of Foreign Affairs has even labelled it a “triple win”, for the workers, their hosts and for their home nations who receive remittances.

    But beneath the surface serious questions are being asked about the safety of workers denied the right to leave their employers.

    A report by the NSW Anti-slavery Commissioner entitled Be Our Guests has identified signs of debt bondage, deceptive recruiting, forced labour and, in extreme cases, servitude, sexual servitude and human trafficking.

    The NSW parliament has launched its own inquiry into the risks faced by migrant workers in response and is seeking submissions.

    Employment Minister Murray Watt this month signalled changes, saying there had been “far too many abuses of the PALM scheme”.

    PALM allows rural and regional employers to hire workers from nine Pacific nations and Timor-Leste when there are not enough local workers available.

    Unplanned pregnancies, sleeping rough

    The workers hired do not have the right to change employers while in Australia, even for contracts of up to four years, except via a request from their original employer or a direction from the Department of Employment.

    This means workers who abandon their employers for reasons including underpayment of wages, excessive deductions and overcharging for accommodation become absconders and lose their rights.

    The NSW Modern Slavery Commissioner says there are several thousand absconded PALM workers in Australia, without access to health insurance and formal income. Among them are women with unplanned pregnancies denied antenatal care due to ineligibility for Medicare.

    The Commissioner says crisis accommodation services in the NSW Riverina report having exhausted all available resources, including tents, for PALM workers who have left their employers and are sleeping rough.

    Australia had 30,805 PALM workers at the end of August, one-third of them (11,420) in Queensland. Most work in farming (52%) and 39% in meat processing. The accommodation and care industries between them account for 6%.



    For many of these workers, the income is life-changing. An I-Kiribati worker I interviewed recently told me she makes more money cleaning hotel rooms in Queensland than is paid to the president of her country.

    The Department of Foreign Affairs and Trade says between July 2018 to October 2022 PALM workers sent home a total of A$184 million, but their employers made profits of $289 million and charged them a further $74 million in rent.

    Unable to switch employers, their bargaining power is weak.

    An estimated 45 workers on the PALM scheme died between June 2022 and June 2023. Nineteen deaths remain under investigation.

    After a Fijian abattoir worker died of a brain tumour in June, Fiji raised with Australia claims of racism, bullying, excessive workloads, unfair termination and unsafe working conditions under the program.

    Minimum pay, but no right to move

    Reforms introduced last year guaranteed workers a minimum of 30 hours per week and a minimum weekly take-home pay (after deductions) of $200.

    But until PALM workers are able to move freely between approved employers they will remain at risk of what the president of the Australian Council of Trade Unions Michele O’Neil calls modern-day slavery.

    O’Neil wants the government to blacklist bad employers and identify ethical ones in consultation with unions and civil society organisations. But she says until PALM workers can move, they risk being treated as disposable labour.

    Many employers treat their PALM workers well, but the current design of the scheme leaves that outcome to chance, and leaves badly-treated workers trapped.

    It’s time to give them the same sort of right to move between employers as the rest of us.

    Matt Withers does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Promoted as a win-win, Australia’s Pacific island guest worker scheme is putting those workers at risk – https://theconversation.com/promoted-as-a-win-win-australias-pacific-island-guest-worker-scheme-is-putting-those-workers-at-risk-240333

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Australia: Port of Burnie shiploader complete, doubling capacity

    Source: Australian Ministers for Regional Development

    Tasmania’s largest cargo port has doubled its loading capacity, supporting 500 jobs and boosting the state’s economy.

    The Albanese Government provided $82 million to fully fund the new Shiploader and expanded bulk minerals export facility at the Port of Burnie, which opens today.

    This is a significant investment in North-West Tasmania, strengthening supply chains, reducing operating costs and increasing freight productivity.

    Thproject has installed a new Shiploader along with a new wharf gallery conveyor that connects the existing Bulk Minerals Export Facilitiy (BMEF) to rail and road networks for the transfer of products for export.  

    These upgrades enable the handling of increasing freight volumes, securing the state’s export supply chain for the future. 

    The old Shiploader at the Port of Burnie was built in 1969 and had been operating for well over 50 years, making a new structure vital. 

    The upgraded shiploader is now operational and has loaded over 40,000 tonnes of freight. 

    Expansion of the BMEF will be the final component of works to complete the upgrades, planning for which is well underway.

    The project is creating over 140 direct and indirect jobs during construction and will support an estimated 425 ongoing jobs in related industries.

    The Australian Government’s $82 million investment includes an extra $16 million from the 2024-25 Budget. 

    While this is fully funded by the Australian Government, it is the culmination of many years of hard work and strong collaboration with TasRail. 

    It is one of a number of projects that the Australian Government and TasRail have worked effectively on in recent times.

    Quotes attributable to Infrastructure, Transport, Regional Development and Local Government Minister Catherine King:

    “Replacing aging infrastructure at the Port of Burnie will dramatically boost ship loading rates, creating jobs across Tasmania.

    “The vital upgrades will make port operations more reliable and cost effective, securing the State’s minerals export supply chain.

    “Investments like these deliver on our commitment to building strong and sustainable regions through support for local industries.”

    Quotes attributable to Senator for Tasmania Anne Urquhart:

    “Today’s official opening of the Shiploader is testament to the importance of collaboration, with this opening marking the culmination of many years of hard work and strong collaboration between TasRail and the Australian Government.”

    “This project will see Tasmania’s largest cargo port doubling its loading capacity in a major boost for the State’s economy, thanks to the Australian Government that fully funded the $82 million project.”

    Quotes attributable to TasRail CEO Steven Dietrich:

    “TasRail is proud to have facilitated this project for the Tasmanian mining industry. Our facility at the Port of Burnie has been the primary export gateway for many of the West Coast mines for more than 50 years.

    “In the last financial year, TasRail shiploaded 575,047 thousand tonnes of concentrate for export. 

    “Our new shiploader provides certainty to TasRail’s existing customers and will help to attract investment into new mining projects in Tasmania. 

    “We thank the Australian Government for its on-going support for rail infrastructure in Tasmania and all of the contractors and stakeholders who have helped to ensure the project’s success.”

    MIL OSI News

  • MIL-OSI USA: Remarks as Prepared for Delivery by Dr. Liz Sherwood-Randall for the Eradicate Hate Global Summit | Pittsburgh,  PA

    US Senate News:

    Source: The White House
    Pittsburgh, Pennsylvania
    Thank you to each of the speakers, including the survivors, who preceded me. You are each both humbling and inspiring, and I am deeply grateful to have listened to what you have shared with us.
    It is an honor to be here with you at the fourth convening of the Eradicate Hate Global Summit.
    Thank you, Brette for your generous words — and thank you for taking on this vital leadership role. 
    The Summit has convened thousands of experts and developed multiple innovative approaches – including the “Up End Hate” campaign that empowers young people to prevent violence.  And that is just the most recent example of the impact this solutions-oriented Summit has delivered.    
    Sunday, October 27th, will mark the sixth anniversary of the horrific day when a white supremacist who hated Jews and immigrants went to the Tree of Life synagogue here in Pittsburgh and attacked the innocent human beings who were worshipping during morning Shabbat services.
    He murdered eleven people that day, robbing the world of their futures. 
    For each of them, their loved ones still grieve, and in solidarity we each can say:  May their memories be a blessing.
    The phrase is a resonant and powerful one. It invites us all not just to remember those we have lost, but to honor them by continuing to pursue justice and heal our broken world in their names.
    Looking at this week’s agenda and each of you in this room, remembering them is indeed proving to be a blessing, by motivating this hard work to translate ideas into action.
    In the aftermath of that terrible and tragic day, this community and this city have shown that an act of terror should and can unite us rather than divide us. In the Summit, you have shown the world how you have taken the emotions and prayers that arose and the actions you are undertaking and channeled them into meaningful deeds.
    It is in that spirit of moving from hope to action that I come to you today.
    I will speak to you about three topics: the threat we face now, the responses we are pursuing to address that threat, and the actions we are taking to reduce that threat in the future.
    First, we unfortunately have to acknowledge that current forms of domestic terrorism and hate have fueled a dynamic threat landscape that is even more daunting following the savage Hamas attack on Israel one year ago and its ongoing aftermath.
    These threats present a new set of challenges that we must do everything we can to prevent, to disrupt, and to prepare for if they cannot be stopped.  
    Indeed, the Biden-Harris Administration’s response to hate and domestic terrorism is outlined in a series of innovative strategies and implementation plans that harness the full force of the Federal government of the United States. 
    But critically, they depend on intensive, enduring cooperation with civic, religious, private sector and international partners like you to generate a comprehensive response.
    And although it may not feel that way every day, this model is delivering results. I am the first to admit that the challenges are immense, and even growing.  But I also fervently believe that combining our full strengths, we can come together to make a difference. 
    The Normalization of Hate and Violence
    Let me begin with the threat landscape: As the White House Homeland Security Advisor over the past four years, I have seen firsthand that a fundamental threat to our democracy is the normalization of hate-fueled violence.
    Domestic terrorist movements, including racially and ethnically motivated violent extremists, continue to advocate for widespread violence on the premise that it would lead to outcomes they seek, including chaos and societal collapse among other dystopian ends.
    These dark minds celebrate attacks in El Paso, Buffalo, Poway, Colorado Springs, Charleston, and yes, just east of here, in Squirrel Hill — as well as numerous attacks abroad that they ascribe to their twisted worldview.
    The proliferation of these ideologies online reflects this trend, and its purveyors are reaching a growing number of people, including teenagers and even younger children.
    And as this threat has evolved both in the United States and especially online, we have seen its “domestic” dimensions become increasingly global.
    Let me give you one example of what I mean.  On September 9th of this year, the Federal Bureau of Investigation and the Department of Justice arrested and charged two leaders of the Terrorgram Collective in the United States.
    These two individuals created a global community of white supremacists to communicate online with like-minded people, disseminate violent propaganda, and encourage physical attacks on minority communities and government officials.
    The amplification of hate online has corresponded with a growth in antisemitism and other forms of hate, particularly in the wake of the October 7th Hamas attacks. 
    By just one measure, between October 7th, 2023, and January 30th of this year, the FBI opened over three times more anti-Jewish hate crimes investigations than in the four months prior to the October 7th attacks. I will return to the meaningful outcomes from these investigations in a moment. 
    And October 7th has had ramifications beyond the rise in hate. We have observed terrorist groups from across the ideological spectrum seeking to exploit the attack for their own goals. Images and messaging emerging from the conflict are expanding the pool of individuals susceptible to mobilization to violent acts, and causing terrorist groups that previously disdained each other to form common cause.
    And these effects are likely to persist long after hostilities cease— and will interact with future flashpoints and activating events, which could drive terrorist attacks against the United States and Israel, as well as against Jewish, Muslim, Arab, and other communities.  
    And it is not just terrorist organizations that are of high concern. The behavior of lone actors can have significant ramifications, even when they do not commit mass violence.
    For example, in February 2024, a joint investigation between the FBI and Florida authorities led to the arrest of a 17-year-old for swatting—which is the practice of making false reports to 9-1-1 to induce a law enforcement response at a residence or workplace.
    Over a two-year span, this particular young person targeted a Florida mosque and hundreds of high schools, historically black colleges and universities, and even the homes of FBI agents.
    Swatting distracts and drains valuable law enforcement resources, exposes police to a potentially life-threatening response, and traumatizes citizens, including students and worshippers, who experience these events.
    And as if this wasn’t bad enough, it emerged that the young suspect was selling swatting as a service on Telegram— which is another way in which that platform is being exploited for dangerous purposes.
    Now, some look at today’s threat landscape and assume the worst, and conclude that there is little if anything that can be done to stop the growth of these threats. 
    But I am here today to tell you that, like all of you, we do not see it that way.    
    The Biden-Harris Administration’s Strategic Approach
    Clearly what I have described is not how we wish our world had evolved. But we have come together here to affirm that we are not powerless in the face of hate and violence.
    From day one, President Biden and Vice President Harris have pursued a rigorously calibrated, integrated approach to countering hate and domestic terrorism that is aligned with our values and complements our broader national security interests.
    This is built on their core belief that domestic terrorism and hate strike at the very foundation of our democracy.
    Indeed, President Biden decided to run for the White House back in 2017 after men with tiki torches emerged from the shadows in Charlottesville spewing the same Antisemitic bile we heard in Germany in the 1930s. 
    That’s why, on his first day in office, President Biden directed me to lead a 100-day comprehensive review of U.S. Government efforts to address domestic terrorism.  This resulted in the development and release of the first-ever National Strategy for Countering Domestic Terrorism in June of 2021.
    We went to work immediately on implementing that strategy.  And to complement it, recognizing how critical our partners beyond the Federal government would be to our success, in September of 2022, President Biden hosted the United We Stand Summit to mobilize communities to work with us in advancing an inclusive and bipartisan vision for a more united America and to push back against the growing normalization of hate in our society.
    In December of that year, Susan Rice – then the President’s Domestic Policy Advisor – and I launched an initiative to specifically tackle Antisemitism, Islamophobia and related forms of bias and discrimination.
    This led to our releasing, in May 2023, the first-ever U.S. National Strategy to Counter Antisemitism. And we have been working to develop a complementary strategy to address Islamophobia. 
    Importantly, our approach not only tackles the threats of today but prepares for emerging and future threats. 
    So I want to focus here on three key elements of the strategy: first, our efforts to hold accountable those who engage in hate-fueled violence and hate crimes; second, our efforts to protect vulnerable communities; and third, our efforts to prevent such acts from occurring in the first place.
    Accountability Measures
    Our Administration has prioritized the use of our legal authorities and tools to expand investigations and prosecutions. 
    As a result, from 2020 to 2022, the number of FBI domestic violent extremism and domestic terrorism investigations more than doubled to over 2,700. 
    In 2022, the Department of Justice also created a specific domestic terrorism unit within its National Security Division to handle these investigations and prosecutions.
    And a similar dynamic is occurring in our efforts to address hate crimes. The FBI has published and widely disseminated information about what constitutes a hate crime and how to report them, and reinforced this by conducting over 70 meetings with faith-based organizations since October 7th.
    These efforts, combined with the FBI’s tireless work to investigate every lead they receive, have delivered results.  Let me describe a few.  
    In November of 2023, a Tampa, Florida, resident was arrested by the FBI for allegedly leaving threatening voicemails at two Jewish organizations in New York.
    In January 2024, a Massachusetts man was arrested for threatening to kill members of the Jewish community and bomb places of worship.
    And just last month, the Department of Justice announced criminal charges against a Pakistani national arrested in Canada who was planning to travel to New York City to attack a Jewish Community Center on the anniversary of October 7th.
    Protection Measures
    We have also driven efforts to enhance the safety and security of Jewish and other communities targeted for hate and violence. For example, President Biden worked with Congress to secure an additional $400 million for the Department of Homeland Security’s (DHS’s) Nonprofit Security Grant Program in February of this year.
    This grant program funds security improvements and training for nonprofits and houses of worship, including campus organizations and community centers.
    For example, the same program paid to install cameras and boost other security measures in Congregation Beth Israel in Colleyville, Texas—actions that the congregation’s Rabbi credited with avoiding loss of life when a terrorist took hostages in the synagogue in January 2022. 
    We have also worked in partnership with a wide range of state and local leaders and non-governmental partners to help communities and institutions protect themselves against and prevent hate.
    As just one example, this past summer we provided 5,000 campus leaders all across the country with a detailed list of the federal resources available to help them establish safer and more secure learning environments for their students, faculty, and staff.  
    We sent Federal experts to campuses, hosted a variety of convenings to discuss challenges and identify solutions, and released updated toolkits to enhance their preparations for the new academic year that began in August.
    This effort is ongoing, and the fear and anxiety of those who feel threatened on campuses persists. But it is clear that the resources and toolkits we have shared align with the changes that many campuses have successfully implemented this Fall.  
    Prevention
    And this brings me to the third element of our response—the actions we are taking now to prevent hate-fueled violence and domestic terrorism in the future, before they occur. 
    We know that a complex process brings an individual to pursue targeted violence or terrorism. But we also know that there are behaviors and other signs that people see that are clues that an individual might be trending toward or contemplating an act of targeted violence or terrorism.   
    We have elevated the prevention of targeted violence and terrorism as a strategic priority for countering terrorism, antisemitism, and related forms of hate. 
    Our goal has been to build a prevention architecture that supports nation-wide state and local efforts to intervene and “offramp” individuals who appear to be moving toward committing acts of targeted violence and terrorism.
    At the Federal level, we have surged support to state and local behavioral Threat Assessment and Management, or “TAM” teams as we refer to them.
    For example, the FBI’s Behavioral Analysis Unit has embedded specifically trained agents who are called “threat management coordinators” in their field offices and is working to ensure that each of their field offices are participating in the local Threat Assessment and Management teams. Some of these coordinators are here with us today.   
    Likewise, the U.S. Secret Service’s National Threat Assessment Center recently released a six-step guide for state and local law enforcement about how they can most efficiently establish a TAM team that can assess and intervene with individuals identified as posing a risk of violence.
    And there is the DHS Center for Prevention Programs and Partnerships, which I know is well represented here in the room.  Among their many accomplishments, I want to highlight their work creating and curating the online Prevention Resource Finder, which you can Google at that name—literally a one-stop shop that lists all Federal resources available to help state and local governments prevent acts of targeted violence and terrorism. We recently expanded the website, and it now offers nearly 150 resources.
    It’s important to say again here that the Federal government cannot effectively tackle this metastatic challenge alone.
    Indeed, all of the evidence shows that prevention is most effective when led by our state and local partners, who are on the ground, embedded in our communities. This is especially true for TAM teams, which often operate at the county or municipal level.
    The good news is that we know state and local partners can do this quickly and successfully in partnership with Federal expertise and assistance. Let me give you an example.
    In the days and weeks following the appalling May 14th, 2022, domestic terrorist attack at the Tops Supermarket in Buffalo, the state of New York quickly reached out to the Federal Department of Homeland Security and other Federal agencies to explore how to expand existing partnerships and build a statewide prevention effort.
    To be clear, this was led by and implemented by the State of New York, but the Federal government offered substantial assistance to the State of New York.
    And by 2023, New York had launched a statewide targeted violence prevention strategy that included placing at least one TAM team in every county.
    Just two years after the Buffalo attack, New York had established TAM teams in forty-three counties and the City of New York.
    In May, New York noted that their TAM teams were collectively intervening in more than one thousand two hundred cases.
    And, more important, these TAM teams are saving lives, taking action with respect to certain individuals who were clearly planning acts of targeted violence.  
    This is critical, painstaking, lifesaving work, and I am encouraged to see that many more states are responding to our calls to move in this direction.
    This is progress, and if we persist, these efforts will reduce violence in our Homeland.  
    Closing
    In closing, I want to thank each of you for the work you do every day to prevent, to prepare, and to respond to this phenomenon that is tragically impacting so many of our communities and leaving families and neighborhoods devastated. 
    Your partnership with us is vital to stopping the normalization of hate-fueled violence that threatens our democracy. 
    Again, I want commend the work of this Summit. You are the embodiment of what I have spoken about today.  And there is a real feeling of solidarity in a group like this, and we can and must draw strength from one another.
    For a moment, I will take you back to another very dark time in our Nation’s history — the days and weeks after 9/11. Then I had very young children — and to focus them on the positive in a time of terror I would say to them, “look at all the helpers — there are so many people who are helping other people.”
    You are the helpers today, the doers, the healers in these times, and your work to scale up prevention efforts – and to mobilize the youth of our country to be a part of the solution to hate – are two of the numerous examples of how the agenda for the coming three days will build a stronger and safer America for all of us, and set an example for the world. 
    I salute you for all your commitment, your dedication, and everything you are doing — 
    And I will end where I began. While the threats are real and pernicious, we take inspiration from each other and from those we have lost.  
    May each of their memories be a blessing – and may our work together light the way to a brighter and more secure future.     

    MIL OSI USA News

  • MIL-OSI Economics: AIIB Commits EUR150 Million to Türkiye North Marmara Highway Project

    Source: Asia Infrastructure Investment Bank

    The Asian Infrastructure Investment Bank (AIIB) has signed a EUR150 million (approximately USD167 million) loan agreement to cofinance the North Marmara Highway Nakkaş-Başakşehir BOT Project.

    The Project – aimed at enhancing Istanbul’s east-west connectivity, improving road safety and reducing congestion – is being implemented under a build-operate-transfer arrangement by a consortium led by Rönesans Holding A.Ş. in partnership with Samsung C&T Corporation and other Korean investors. It involves a 31.3-km toll road, including a 1.6-km cable-stayed bridge and multiple overpasses and underpasses.

    “AIIB’s participation in this project not only enhances Türkiye’s transport infrastructure but also supports our mission to advance green finance and sustainable development,” said Konstantin Limitovskiy, AIIB Vice President for Investment Clients Region 2 and Project and Corporate Finance, Global. “By reducing emissions, improving road safety and fostering cross-border connectivity, the North Marmara Highway exemplifies the kind of ‘infrastructure for tomorrow’ that will deliver long-term positive impacts for the region and beyond.”

    “We’re proud to set a new standard for transportation in Türkiye with the Nakkaş-Başakşehir Project,” said Erman Ilıcak, President of Rönesans Holding. “We wish to thank our consortium partners, under the leadership of Samsung C&T Corporation, for their confidence in us throughout this project and their investment in Türkiye. Not only will the highway drastically cut travel times for individuals and businesses in Istanbul – it will also take the country’s sustainable development to the next level. This is a highway of the future, built with people, society and the environment in mind – elements we hope to see replicated across global infrastructure projects moving forward.”

    “This project is expected to enhance economic cooperation between the two countries,” said Se Chul Oh, President and CEO of Samsung C&T. “Moreover, it holds a great significance as K-Team produces meaningful outcomes with the technique of a Korean builder and policy support from public organizations including Korean Expressway Corporation, KIND and PIS Fund. We will keep this momentum going to create additional cooperative opportunities in Turkey, CIS and Eastern European markets beyond the successful partnership with Rönesans.”

    AIIB’s EUR150 million contribution is part of a wider EUR1.04 billion senior debt financing package. The project is cofinanced by AIIB, the European Bank for Reconstruction and Development (EBRD) and the Islamic Development Bank Group as anchor lenders, along with an international consortium of commercial banks and export credit agencies.

    Key components of the project include advanced tolling systems and sustainable construction techniques. The highway is expected to benefit commuters, businesses and logistics operators by reducing travel times and transportation costs, as well as improving access to Istanbul’s New Airport. AIIB has been involved in the project since 2020 in partnership with EBRD, ensuring compliance with environmental and social standards (including the Environmental and Social Impact Assessment and Resettlement Action Plan).

    This is AIIB’s second road infrastructure project in Türkiye and marks a significant milestone in AIIB’s engagement in the country’s transport sector. Earlier this year, the Bank approved a USD200 million loan under its Emergency Road Rehabilitation and Reconstruction Project to support the country’s recovery from the February 2023 earthquakes.

    About AIIB

    The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond – infrastructure with sustainability at its core. We began operations in Beijing in 2016 and have since grown to 110 approved members worldwide. We are capitalized at USD100 billion and AAA-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

    About Rönesans Holding

    Rönesans Holding, a Turkish conglomerate headquartered in Ankara, is the 53rd-largest international contracting company globally and one of the largest in Europe. With operations spanning 30 countries across Europe, Central Asia, and Africa, Rönesans has been operating successfully for 30 years in construction, energy, healthcare, real estate development and industrial investments.

    About Samsung C&T Corporation

    Samsung C&T Corporation is a South Korean construction and trading company since 1977. It’s a part of the larger Samsung Group. C&T stands for Construction and Trading, reflecting its diverse business portfolio. The company is involved in various sectors, including engineering and construction, trading and investment, fashion and resorts. Samsung C&T has played a significant role in the development of South Korea’s infrastructure and has expanded its global presence with projects worldwide. Samsung C&T is the 16th largest international contracting company globally. Currently operating in 26 countries, Samsung C&T has successfully completed 510 civil infrastructure projects worldwide, with 23 ongoing projects.

    MIL OSI Economics

  • MIL-OSI Economics: Advanced Trading System Group (ATS Group): BaFin warns consumers about the website advtradegroup.com

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The operators of the website refer to themselves only as Advanced Trading System Group (ATS Group) without stating the company’s legal form. They do not provide any information about their registered office and the website contains no legal notice.

    Anyone conducting banking business and providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

    Theinformation provided by BaFin is based on section 37 (4) of the German Banking Act (KreditwesengesetzKWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (BundeskriminalamtBKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: EPFO Adds 18.53 Lakh Net Members During August 2024

    Source: Government of India (2)

    EPFO Adds 18.53 Lakh Net Members During August 2024

    9.3 Lakh New Members Enrolled with EPFO during August 2024

    Posted On: 20 OCT 2024 4:07PM by PIB Delhi

    The Employees’ Provident Fund Organisation (EPFO) has released provisional payroll data for August 2024, revealing a net addition of 18.53 lakh members in the month of August 2024. This represents a 9.07% year-on-year growth compared to August 2023, signifying increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives.

    New Membership:

    EPFO enrolled around 9.30 lakh new members in August 2024, representing an increase of 0.48% in the new members from the previous year in August 2023. This surge in new memberships can be attributed to growing employment opportunities, increased awareness of emp1oyee benefits, and EPFO ‘s successful outreach programs.

    Group 18-25 Leads New Membership:

    A noticeable aspect of the data is the dominance of the 18-25 age group, constituting a significant 59.26% of the total new members added in August 2024. In addition, the net payroll data for the age group 18-25 for August 2024 is 8.06 lakhs. This is in consonance with the earlier trend which indicates that most individuals joining the organized workforce are youth, primarily first-time job seekers.

    Rejoining Members:

    The payroll data highlights that approximately 13.54 lakh members exited and subsequently rejoined EPFO. This figure depicts year-over-year growth of 14.03% compared to August 2023. These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus, safeguarding long-term financial well-being and extending their social security protection.

    Growth in Female Membership:

    Gender-wise analysis of payroll data unveils that out of the new members added during the month, around 2.53 lakhs are new female members. This figure exhibits year-over-year growth of 3.75% compared to August 2023. Also, the net female member addition during the month stood at around 3.79 lakh. It reflects a year over year growth of 10.41% compared to August 2023. The surge in female member additions is indicative of a broader shift towards a more inclusive and diverse workforce.

    State-wise Contribution:

    State-wise analysis of payroll data denotes that net member addition in the top five states/ UTs constitutes around 59.17% of net member addition, adding a total around 10.97 lakh net members during the month. Of all the states, Maharashtra is leading by adding 20.59% of net members during the month. The states/UTs of Maharashtra, Karnataka, Tamil Nadu, Haryana, Delhi, Gujarat, Telangana and Uttar Pradesh individually added more than 5% of the total net members during the month.

    Industry-wise Trends:

    Month-on-month comparison of industry-wise data displays significant growth in the members working in establishments engaged in the industries viz. Trading – commercial establishments, Engineers – engg. contractors, Building and construction industry, Agriculture farms, Beedi making etc. Of the total net membership, around 40.36% addition is from expert services (consisting of manpower suppliers, normal contractors, security services, miscellaneous activities etc.).

    The above payroll data is provisional since data generation is a continuous exercise, as updating employee record is a continuous process. The previous data gets updated every month. From the month of April 2018, EPFO has been releasing payroll data covering the period October 2017 onwards. In monthly payroll data, the count of members joining EPFO for the first time through Aadhaar validated Universal Account Number (UAN), existing members exiting from coverage of EPFO and those who exited but re-joined as members, is taken to arrive at net monthly payroll.

    *****

    Himanshu Pathak

    (Release ID: 2066506) Visitor Counter : 6

    MIL OSI Asia Pacific News

  • MIL-OSI Submissions: Health – Viet Nam eliminates trachoma as a public health problem – WHO

    Source: World Health Organization

    In a significant health milestone, Viet Nam has successfully eliminated trachoma. This remarkable achievement was validated by the World Health Organization (WHO) and a plaque was presented to the Vice Minister of Health of Viet Nam, Associate Professor Nguyen Thi Lien Huong, during the seventy-fifth session of the WHO Regional Committee for the Western Pacific, which opened today in Manila.

    Trachoma is the leading infectious cause of blindness globally. It is a preventable disease of the eye caused by Chlamydia trachomatis bacteria. Trachoma is spread by flies and people can also become infected through direct contact with discharge from the eyes or nose of an infected person. With repeated infections, the eyelashes may be drawn in so that they rub on the surface of the eye, causing pain and damaging the cornea. Some affected individuals must undergo surgery to prevent blindness from the disease.

    Decades of concerted efforts

    Over the past 70 years, Viet Nam has worked tirelessly to combat trachoma, treating hundreds of thousands of people and implementing rigorous control measures. These efforts were significantly strengthened with the implementation of WHO’s SAFE strategy, which stands for surgery, antibiotics, facial cleanliness and environmental improvement.

    Past surveys indicated that trachoma was a public health problem in four provinces in Viet Nam. Thirty years ago, 1.7% of people living in these high-risk provinces required surgery to prevent blindness from trachoma. However, by 2023 the proportion of adults with the blinding form of the disease had fallen below 0.2%, which is the threshold required for WHO validation of elimination of trachoma as a public health problem. Continuous monitoring and the focused implementation of the SAFE strategy in the country, starting in 1999, have been instrumental in this decline.

    Trachoma elimination in Viet Nam was made possible through collaboration among several government agencies including the Ministry of Health, the Ministry of Education and Training and the Ministry of Agriculture and Rural Development, with the support of WHO and international health partners including the Australian Department of Foreign Affairs and Trade (DFAT),   the Fred Hollows Foundation, the International Trachoma Initiative (ITI), RTI International, UNICEF and the United States Agency for International Development (USAID). Viet Nam was one of the first group of countries to receive Pfizer-donated azithromycin   for trachoma elimination purposes through ITI, a donation that has been critical to global progress against trachoma.

    “Elimination of trachoma as a public health problem in Viet Nam is a monumental achievement for the country and for the global fight against the disease,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “This milestone is a testament to the unwavering dedication of Viet Nam’s health workers, including many working at community level. It underscores the power of collective action, innovative thinking and a shared commitment to a healthier future for all. I commend Viet Nam for its dedication and success in safeguarding the vision of millions.”

    “The elimination of trachoma in Viet Nam demonstrates the commitment of the Government, health workers and communities across the country,” said Dr Saia Ma’u Piukala, WHO Regional Director for the Western Pacific, praising the achievement. “It is a shining example of how targeted interventions, strong partnerships and sustained effort can bring about real change in the health of populations.”

    A trachoma-free future

    WHO Representative to Viet Nam, Dr Angela Pratt, described trachoma as a disease of poverty. “Communities in remote areas without good access to safe water and sanitation were the worst affected. But Viet Nam has demonstrated that it is possible to reach the hardest-to-reach populations, make the right investments to protect people’s health and ensure a trachoma-free future.”

    Reflecting on this historic achievement, Associate Professor Nguyen Thi Lien Huong said that the elimination of trachoma was a proud moment for Viet Nam. “The combined efforts of many agencies and communities, with the support of WHO and partner organizations, have saved thousands of people from lifelong blindness and economic disadvantage. Our children can now grow up safe from this painful and potentially blinding disease. This is a wonderful achievement for our people, which will pay dividends for decades to come. In this happy moment, on behalf of the Vietnamese people, I want to express our sincere thanks to all international partners who contributed great support to trachoma elimination in Viet Nam.”

    In 2018, Viet Nam eliminated lymphatic filariasis. The country has also made tremendous progress on combating malaria, which is now only found in pockets of areas and is close to being eliminated.

    Viet Nam’s success is part of broader progress in disease prevention in the WHO Western Pacific Region. Since the launch of WHO’s first road map for the prevention and control of neglected tropical diseases (NTDs) in 2012, the Region has made significant strides in eliminating trachoma. Between 2016 and 2022, four out of the Region’s 11 trachoma-endemic countries were validated for trachoma elimination. Viet Nam becomes the fifth, joining Cambodia, China, the Lao People’s Democratic Republic and Vanuatu in recording this achievement, highlighting the importance of sustained efforts in tackling NTDs.

    WHO continues to support countries in the Region to eliminate trachoma and other NTDs as part of the global effort to improve health and well-being for all.

    Notes

    A certificate and plaque were presented to Viet Nam in recognition of this achievement during the seventy-fifth session of the Western Pacific Regional Committee taking place from Monday, 21 October, through Friday, 25 October, at the WHO Regional Office for the Western Pacific in Manila, Philippines. The agenda and timetable of the Regional Committee meeting are available online. A livestream of proceedings, all other official documents, as well as fact sheets and videos on the issues to be addressed can be accessed here. For real-time updates, follow @WHOWPRO on Facebook, X, Instagram and YouTube and the hashtag #RCM75.

    Working with 194 Member States across six regions, WHO is the United Nations specialized agency responsible for public health. Each WHO region has its regional committee – a governing body composed of ministers of health and senior officials from Member States. Each regional committee meets annually to agree on health actions and to chart priorities for WHO’s work.

    The WHO Western Pacific Region is home to more than 1.9 billion people across 37 countries and areas: American Samoa (United States of America), Australia, Brunei Darussalam, Cambodia, China, Cook Islands, Fiji, French Polynesia (France), Guam (United States of America), Hong Kong SAR (China), Japan, Kiribati, the Lao People’s Democratic Republic, Macao SAR (China), Malaysia, the Marshall Islands, the Federated States of Micronesia, Mongolia, Nauru, New Caledonia (France), New Zealand, Niue, the Commonwealth of the Northern Mariana Islands (United States of America), Palau, Papua New Guinea, the Philippines, Pitcairn Island (United Kingdom of Great Britain and Northern Ireland), the Republic of Korea, Samoa, Singapore, Solomon Islands, Tokelau, Tonga, Tuvalu, Vanuatu and Viet Nam, Wallis and Futuna (France).

    Related links:

    Fact sheet on trachoma: https://www.who.int/news-room/fact-sheets/detail/trachoma
    Global road map for neglected tropical diseases 2021–2030: https://www.who.int/publications/i/item/9789240010352

    MIL OSI – Submitted News

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

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

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

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

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

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

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

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

    MIL OSI Africa

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

    Source: GlobeNewswire (MIL-OSI)

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

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

    The full research report is available below. 

    Solowin Holdings Initiation of Coverage

    Highlights from the report include:                                              

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

    About Solowin Holdings  

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

    About Diamond Equity Research

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

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

    Disclosures:

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

    Contact:

    Diamond Equity Research
    research@diamondequityresearch.com

    Attachment

    The MIL Network

  • MIL-OSI: NEWTON GOLF to Present at the LD Micro Main Event XVII

    Source: GlobeNewswire (MIL-OSI)

    CAMARILLO, CA, Oct. 21, 2024 (GLOBE NEWSWIRE) — NEWTON GOLF Company (Nasdaq: SPGC) (“NEWTON GOLF” or the “Company”), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, announces that Greg Campbell, Executive Chairman, will present a corporate overview at the LD Micro Main Event XVII. The conference is being held on October 28 – 30, 2024 at the Luxe Sunset Boulevard Hotel in Los Angeles.

    Event:  LD Micro Main Event XVII
    Presentation Date:  Wednesday, October 30, 2024
    Time:   8:00 AM PT
    Register to watch presentation:  https://me24.sequireevents.com/
       

    Mr. Campbell will be available for one-on-one meetings with registered investors of the conference.

    About NEWTON GOLF: A Sacks Parente Company

    NEWTON GOLF: A Sacks Parente Company, is a technology-forward golf company that help golfers elevate their game. With a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, the Company’s innovative accomplishments include: the First Vernier Acuity putter, patented Ultra-Low Balance Point (ULBP) putter technology, weight-forward Center-of-Gravity (CG) design, and pioneering ultra-light carbon fiber putter shafts.

    In consideration of its growth opportunities in golf shaft technologies, the Company expanded its manufacturing business in April of 2022 to develop the advanced Newton brand of premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. It is the Company’s intent to manufacture and assemble substantially all products in the United States, while also expanding into golf apparel and other golf-related product lines to enhance its growth.

    The Company’s future expansions may include broadening its offerings through mergers, acquisitions or internal developments of product lines that are complementary to its premium brand. The Company currently sells its products through resellers, the Company’s websites, Club Champion retail stores, and distributors in the United States, Japan, and South Korea.

    For more information, please visit the Company’s website at http://www.newtongolfco.com or on social media at @newtongolfco.com, @newtonshafts, or @gravityputters.

    Media Contact for NEWTON GOLF
    Beth Gast
    BG Public Relations
    beth.gast@bgpublicrelations.com

    Investor Contact for NEWTON GOLF
    CORE IR
    516-222-2560
    investors@sacksparente.com

    The MIL Network

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

    Key Findings from the White Paper

    Shift to Wearable Gesture Control for Comfort and Precision

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

    Extended Functionality with Sensor Fusion

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

    Overcoming the Limitations of Field-of-View Boundaries

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

    Bridging the Gap Between Device Types

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

    Reducing Device Weight and Complexity for Mass Adoption

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

    Toward a New Standard in Human-Computer Interaction

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

    Additional Insights and Market Context

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

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

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

    About Wearable Devices Ltd.

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

    Forward-Looking Statement Disclaimer

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

    Investor Relations Contact

    Walter Frank
    IMS Investor Relations
    203.972.9200
    wearabledevices@imsinvestorrelations.com

    Media Contact:

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

    The MIL Network

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

    Source: GlobeNewswire (MIL-OSI)

    News Summary

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

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

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

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

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

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

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

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

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

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

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

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

    Cautionary Statement Regarding Forward-Looking Statements

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

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

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

    Important Additional Information and Where to Find It

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

    Press Contacts
    Susie Evershed
    press@secureworks.com

    Kelly Kane
    Kelly.Kane@sophos.com

    The MIL Network

  • MIL-OSI Asia-Pac: SEE attends Singapore International Energy Week in Singapore (with photos)

    Source: Hong Kong Government special administrative region

    SEE attends Singapore International Energy Week in Singapore (with photos)
    SEE attends Singapore International Energy Week in Singapore (with photos)
    **************************************************************************

         The Secretary for Environment and Ecology, Mr Tse Chin-wan, attended the 17th Singapore International Energy Week (SIEW) today (October 21).      SIEW is organised by the Energy Market Authority under the Ministry of Trade and Industry (MTI) of Singapore. The theme this year is “A Connected and Sustainable Energy World”. Mr Tse attended the SIEW Summit to speak on the topic of Asia’s Collaborative Journey to a Sustainable Energy Future, and engaged in in-depth discussions and exchanges with other participants.      Speaking at the Summit, Mr Tse said that Hong Kong strives to reduce carbon emissions and achieve carbon neutrality before 2050. The carbon emissions in Hong Kong peaked in 2014. Compared to the peak, the carbon emissions of Hong Kong have reduced by about a quarter and the target is to reduce them by half before 2035. Hydrogen energy is a low-carbon energy with development potential. The Hong Kong Special Administrative Region Government is advancing with prudence to create an environment conducive to the development of hydrogen energy, which includes improving legislation, setting up infrastructure and funding trial projects. He said, “Our country places great emphasis on developing hydrogen technology, and has a number of high-quality products and advanced technology. Hong Kong can grab the opportunity to become a hub for the country to promote different products and technologies, helping Hong Kong and other countries to promote a green transition.”      Mr Tse also pointed out that there are three key elements to promote regional collaboration, namely political will to set policy targets, active participation from industries and the establishment of an exchange platform for sharing experiences and seeking co-operation. He expressed his gratitude to SIEW for providing an excellent platform that brings together various parties to explore new opportunities and collaboration.      In the afternoon, Mr Tse met with the Senior Minister of State for the MTI, Ms Low Yen Ling, to exchange views on hydrogen development. He later met with officials of the Maritime and Port Authority of Singapore to learn more about the latest developments of green maritime fuel in Singapore.      Mr Tse also visited a local shipping company today and received a briefing on the supply chain and bunkering operations of green marine fuels, particularly the application of green methanol.       Tomorrow (October 22), Mr Tse will visit a local enterprise to understand better the developments and applications of sustainable aviation fuel. He will return to Hong Kong the same evening.

     
    Ends/Monday, October 21, 2024Issued at HKT 19:10

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: Russian-Kyrgyz negotiations

    Translation. Region: Russian Federation –

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

    From the transcript:

    M. Mishustin: Dear Akylbek Usenbekovich! Dear colleagues!

    Previous news Next news

    Mikhail Mishustin with the Chairman of the Cabinet of Ministers of Kyrgyzstan – Head of the Administration of the President of Kyrgyzstan Akylbek Japarov

    I am pleased to welcome you all to the Government of the Russian Federation. Your official visit is timed to coincide with the celebration of the centenary of the formation of the Kara-Kyrgyz Autonomous Region and the opening of the Days of Kyrgyz Culture in Russia.

    We, as you know, highly value our relations with Kyrgyzstan – our ally and strategic partner.

    The presidents of our countries are in constant contact. There is an intensive dialogue at all levels. This year, the respected Sadyr Nurgozhoevich Japarov has already visited the Russian Federation three times. And we, of course, are waiting for him at the BRICS summit events in Kazan this week.

    You and I, dear Akylbek Usenbekovich, also maintain regular communication. We work along the lines of the Eurasian Economic Union, the Commonwealth of Independent States. Just last week we participated together in the SCO summit in Pakistan, in Islamabad.

    Our Intergovernmental Russian-Kyrgyz Commission on Trade, Economic, Scientific, Technical and Humanitarian Cooperation, headed by Alexey Logvinovich Overchuk on the Russian side, is also working successfully. It is very pleasant that you are personally involved in all issues. Its latest meeting was held in July, simultaneously with the Russian-Kyrgyz Interregional Conference.

    Russia and Kyrgyzstan have great potential for increasing cooperation. First of all – we also discussed this with you – in the financial sector, industry, agriculture, energy, transport, and also in the field of digital technologies. And we just talked about this in detail today, dear Akylbek Usenbekovich.

    Our trade cooperation is developing at a good pace. In the first eight months of this year, trade turnover has grown by 16%. The share of the ruble in mutual settlements has reached almost 90%. And we, of course, would like to maintain this trend in order to ensure stable and predictable conditions for doing business.

    Our country makes a significant contribution to strengthening the energy security of your republic. At the St. Petersburg Economic Forum in June, long-term contracts were signed for the supply of Russian natural gas to the northern and southern regions of your country.

    The creation of a low-power nuclear power plant based on a Russian project and the construction of solar power plants are also being discussed. An industrial cluster for the production of components necessary for such modules is also being formed.

    Of course, our cooperation is not limited to the economic agenda.

    We pay special attention to humanitarian ties. This is the foundation for strengthening friendly, good-neighborly and truly fraternal relations between our peoples.

    At the end of August, the Kyrgyz-Russian Fair of Innovative Solutions in Education was held. More than 150 representatives of leading Russian institutions in this area took part in it. It was possible to discuss in detail the mechanisms for developing scientific and technical creativity of schoolchildren, the specifics of working with talented children.

    Kyrgyz youth are interested, which pleases us, in studying in Russia. About 16 thousand Kyrgyz students study in our country. Other popular projects are also being implemented.

    We have an extensive bilateral agenda. I am ready to discuss all the issues that exist today.

    It is with pleasure that I give you the floor, dear Akylbek Usenbekovich.

    Please.

    A. Zhaparov: Dear Mikhail Vladimirovich! Dear colleagues and friends!

    To be continued…

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

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://government.ru/nevs/53063/

    MIL OSI Russia News

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

    Source: US Global Legal Monitor

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

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

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

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

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

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

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

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

    Long live the Union Island Gecko and the Amazona Guildingii!

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

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

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

    MIL OSI USA News

  • MIL-OSI Asia-Pac: Tse Chin-wan attends energy summit

    Source: Hong Kong Information Services

    Secretary for Environment & Ecology Tse Chin-wan today attended the opening day of the 17th Singapore International Energy Week (SIEW).

     

    SIEW is organised by the Energy Market Authority under Singapore’s Ministry of Trade & Industry (MTI). The theme this year is ‘A Connected & Sustainable Energy World’.

     

    Mr Tse attended the SIEW Summit, where he gave an address on ‘Asia’s Collaborative Journey to a Sustainable Energy Future’, and held in-depth discussions with other participants.

     

    Mr Tse said Hong Kong is striving to reduce carbon emissions and achieve carbon neutrality before 2050. He highlighted that hydrogen energy is a low-carbon energy with enormous potential, and explained that the Hong Kong Special Administrative Region Government is taking steps towards creating an environment conducive to its development.

     

    He added that efforts have been made to improve legislation, set up infrastructure and fund trial projects.

     

    “Our country places great emphasis on developing hydrogen technology, and has a number of high-quality products and advanced technology,” he said. “Hong Kong can grab the opportunity to become a hub for the country to promote different products and technologies, helping Hong Kong and other countries to promote a green transition.”

     

    In the afternoon, Mr Tse met Singapore’s Senior Minister of State for the MTI Low Yen Ling, to exchange views on hydrogen development.

     

    He later met Maritime & Port Authority officials to learn more about the latest developments concerning green maritime fuels in Singapore.

     

    Mr Tse also visited a local shipping company and listened to a briefing on the supply chain and bunkering operations associated with green marine fuels, in particular green methanol.

     

    Tomorrow, Mr Tse will visit a local enterprise to hear about developments in and applications of sustainable aviation fuel. He will return to Hong Kong in the evening.

    MIL OSI Asia Pacific News

  • MIL-OSI: Endeavor Bancorp Reports Pretax Income of $1.3 million for the Third Quarter of 2024; Results Highlighted by Record Loan Growth and Net Interest Margin Expansion

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Oct. 21, 2024 (GLOBE NEWSWIRE) — Endeavor Bancorp (OTCQX: EDVR) (the “Company,” or “Bancorp”), the holding company for Endeavor Bank (the “Bank”), today reported net income of $924,000, or $0.22 per diluted share, for the third quarter of 2024, compared to net income of $760,000, or $0.18 per diluted share, for the second quarter of 2024, and $1,218,000, or $0.29 per diluted share, for the third quarter of 2023. Pretax net income was $1.3 million in the third quarter compared to $1.1 million in the preceding quarter and $1.7 million in the third quarter of 2023. All financial results are unaudited.

    Results for the third quarter of 2024 included a $609,000 provision for credit losses, compared to a $451,000 provision for credit losses in the second quarter of 2024, and a $301,000 provision for credit losses in the third quarter of 2023. Also noteworthy was the increase in interest expense on borrowings the past two quarters, with interest expense on borrowings of $493,000 for the third quarter of 2024, $492,000 for the preceding quarter, and $201,000 for the third quarter of 2023. The additional interest expense was associated with the recent subordinated debt issued late in the first quarter of 2024. Excluding taxes and loan loss provisions, the Company’s core pretax, pre-provision earnings were $1.9 million in the third quarter of 2024, compared to $1.5 million in the preceding quarter and $2.0 million in the third quarter of 2023.

    “Our third quarter operating results were highlighted by strong net interest income generation and record quarterly loan production,” stated Julie Glance, CFO. “Our earning assets yield also increased, up 28 basis points during the third quarter, which is contributing to net interest margin expansion. While the high-interest rate environment continues to be a challenge, we believe we are well positioned with a strong balance sheet and ample capital to continue to grow.”

    Income Statement
    Strong core earnings were driven by loan growth and higher rates on earning assets. Total interest income on loans and bank deposits and investments was $10.2 million, an increase of $983,000 compared to the preceding quarter, while total interest expenses increased $425,000 during the same timeframe. Net interest income was $5.9 million in the third quarter of 2024, which was an increase of $557,000, or 10.4% compared to the preceding quarter and a 14.6% increase compared to the third quarter of 2023.

    “We are encouraged by our net interest margin improvement. Third quarter net interest margin expanded 15 basis points compared to the prior quarter, boosted by robust loan growth and higher interest earning asset yields, combined with stabilizing funding costs,” said Dan Yates, CEO.

    Net interest margin (NIM) increased 15 basis points to 3.85% in the third quarter of 2024 compared to 3.70% in the second quarter of 2024 and increased 8 basis points compared to 3.77% in the third quarter of 2023. The yield on total earning assets increased 28 basis points during the third quarter of 2024 to 6.61%, compared to 6.33% in the preceding quarter, and up from 5.97% in the third quarter of 2023. The cost of deposits rose in the third quarter, increasing the overall cost of funds by 14 basis points during the third quarter of 2024 to 2.98%, compared to 2.84% in the preceding quarter.

    Non-Interest income decreased to $217,000 in the third quarter, compared to $390,000 in the second quarter of 2024, and increased compared to $181,000 in the third quarter 2023.

    The Company’s annualized return on average equity for the third quarter of 2024 was 8.17%, compared to 6.96% in the second quarter of 2024 and 11.71% in the third quarter of 2023. The annualized return on average assets for the third quarter of 2024 was 0.59% compared to 0.52% in the second quarter of 2024 and 0.88% in the third quarter of 2023.

    Balance Sheet
    Total assets increased $61.5 million, or 10.4%, during the third quarter of 2024 to $655.3 million at September 30, 2024, compared to $593.8 million at June 30, 2024, and increased $101.4 million, or 18.3%, compared to September 30, 2023. Balance sheet liquidity remains strong with cash balances of $87.4 million, which represents 13.3% of total assets as of September 30, 2024. The Company’s bond portfolio increased $1.9 million to $20.1 million as of September 30, 2024, representing only 3.0% of total assets. Total available borrowing capacity through the Federal Home Loan Bank and the Federal Reserve discount window exceeded $168.6 million as of quarter end.

    “The robust loan growth during the quarter was the highest in our history, excluding Paycheck Protection Program (PPP) loans in 2020, as our lenders are doing an excellent job at finding high quality lending opportunities in our market where many banks are pulling back,” said Steve Sefton, President. “We continue to have minimal office exposure with very few office building loans in the portfolio, and 50% of the commercial real estate loans were owner-occupied as of quarter end.”

    Total loans outstanding increased $55.0 million, or 11.4%, during the third quarter of 2024 to $538.4 million at September 30, 2024, compared to $483.4 million three months earlier, and increased $121.7 million, or 29.2%, when compared to $416.7 million a year earlier. Total non-performing loans increased to 1.2% of the total loan portfolio as of September 30, 2024, up from 0.06% in the prior quarter. The rise in non-performing loans was temporarily inflated by a borrower in the renewal process, who had no credit issues and represented over a third of the reported non-performing loans. These loans have since been successfully renewed and are now current. The Company had no net charge offs during the third quarter of 2024, or in the prior quarter.

    Total deposits increased $59.6 million during the quarter to $577.8 million at September 30, 2024, compared to $518.2 million three months earlier. Compared to a year ago, deposits increased by $85.1 million, up 17.3%. The loan to deposit ratio was 93.2% at September 30, 2024, compared to 93.3% at June 30, 2024.

    “Earlier this year, we expanded our team and moved into the greater Los Angeles Metro and Inland Empire markets. While this expansion north is still in its early stages, we are already seeing positive momentum,” added Sefton.

    As a result of its participation in a reciprocal deposit placement network, the Bank accepted “reciprocal” deposits from other institutions, enabling the Bank to offer customers FDIC insurance on accounts in excess of the typical $250,000 FDIC insurance limit. Although the reciprocal deposit accounts maintained through the network are core deposits seeking FDIC insurance, the FDIC rules indicate that reciprocal deposits aggregating over 20% of total liabilities are classified as deposits obtained by or through a deposit broker. The total reciprocal deposits reported as brokered deposits were $127.0 million at September 30, 2024, and $127.8 million as of June 30, 2024. To support the strong loan growth, the Company is utilizing a conservative amount of wholesale deposits. As of September 30, 2024, total wholesale deposits, excluding the reciprocal deposits, was $40.7 million, representing 7.0% of total deposits compared to $10.0 million as of June 30, 2024, or 1.93% of total deposits.

    Shareholders’ equity was $45.0 million at September 30, 2024, compared to $43.8 million at June 30, 2024, and $41.5 million at September 30, 2023. Tangible book value per share increased to $12.97 at September 30, 2024, compared to $12.55 three months earlier and $12.16 a year earlier.

    Capital 
    The Bank’s Tier 1 leverage ratio was 10.95% as of September 30, 2024, compared to 11.70% at June 30, 2024. The Tier 1 risk-based capital ratio was 10.95% as of September 30, 2024, compared to 11.84% on June 30, 2024, and the Total risk-based capital ratio was 12.13% compared to 13.04% three months earlier, all of which were well above regulatory minimums.

    On March 5, the Company completed the issuance of $12.5 million in fixed-to-floating rate subordinated notes. The subordinated debt was structured such that it qualified as Tier 2 capital at the holding company with most of the new capital down streamed to the Bank as Tier 1 capital.

    Stock Dividend
    On May 20, 2024, the Company distributed a 2% stock dividend to shareholders of record on May 10, 2024.

    Recent Events
    Board member Jillian Murrish has announced her resignation due to personal reasons from the BanCorp and Bank board of directors, effective October 18, 2024.

    About Endeavor Bancorp 
    Endeavor Bancorp, the holding company for Endeavor Bank, is primarily owned and operated by Southern Californians for Southern California businesses and their owners. The bank’s focus is local: local decision-making, local board, local founders, local owners, and relationships with local clients in Southern California.

    Headquartered in downtown San Diego in the Symphony Towers building, the Bank also operates a loan production and executive administration office in Carlsbad and a branch office in La Mesa. Endeavor Bank provides traditional business banking services across a broad spectrum of industries and specialties. Unique to the bank is its consultative banking approach that partners our business clients with Endeavor Bank’s senior management. Together, we build strategies and provide resources that solve problems, plan for the future, and help clients’ efforts to grow revenues and profits. Endeavor Bancorp trades on the OTCQX® Best Market under the symbol “EDVR.” Visit http://www.endeavor.bank for more information.

    EDVR Shareholders 
    With many of our shareholders transferring their EDVR shares to their brokerage companies, along with ongoing trading taking place, Bancorp may not have the most current shareholder contact information. If you are an EDVR shareholder and would like to receive information via a more timely method, please complete the Shareholder Communication Preference Form on our website: https://www.bankendeavor.com/investor-relations so we can keep you updated on EDVR news, and invite you to various shareholder networking events throughout the year. 

    Forward-Looking Statements 
    This press release includes “forward-looking statements,” as such term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the current beliefs of the Company’s directors and executive officers (collectively, “Management”), as well as assumptions made by and information currently available to the Company’s Management. All statements regarding the Company’s business strategy and plans and objectives of Management of the Company for future operations, are forward-looking statements. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect” and “intend” and words or phrases of similar meaning, as they relate to the Company or the Company’s Management, are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from the Company’s expectations (“cautionary statements”) are loan losses, rapid and unanticipated deposit withdrawals, unavailability of sources of liquidity, additional regulatory requirements that may be imposed on community banks or banks generally, changes in interest rates, loss of key personnel, lower lending limits and capital than competitors, regulatory restrictions and oversight of the Company, the secure and effective implementation of technology, risks related to the local and national economy, changes in real estate values, the Company’s implementation of its business plans and management of growth, loan performance, interest rates, and regulatory matters, the effects of trade, monetary and fiscal policies, inflation, and changes in accounting policies and practices. Based upon changing conditions, if any one or more of these risks or uncertainties materialize, or if any underlying assumptions prove incorrect, actual results may vary materially from those described as anticipated, believed, estimated, expected, or intended. The Company does not intend to update these forward-looking statements.

    SELECTED FINANCIAL DATA                
    (In thousands of dollars, except for ratios and per share amounts)              
    Unaudited                  
            Three Months Ended          
      September 30, 2024     June 30, 2024     September 30, 2023  
      (Consolidated)     (Consolidated)     (Consolidated)  
    SUMMARY OF OPERATIONS                
    Interest income $ 10,186     $ 9,203     $ 8,200  
    Interest expense 4,266     3,840     3,032  
    Net interest income 5,920     5,363     5,168  
    Provision for credit losses 609     451     301  
    Net interest income after loss provision 5,311     4,912     4,867  
    Non-interest income 217     390     181  
    Non-interest expense 4,205     4,205     3,312  
    Income before tax 1,323     1,097     1,736  
    Federal income tax expense 255     215     328  
    State income tax expense 143     121     190  
    Net income $ 924     $ 760     $ 1,218  
                     
    Core pretax earnings* $ 1,932     $ 1,548     $ 2,037  
    *excludes taxes and provision for loan losses                  
                     
    PER COMMON SHARE DATA                
    Number of shares outstanding (000s) 3,494     3,493     3,394  
    Earnings per share, basic $ 0.26     $ 0.22     $ 0.36  
    Earnings per share, diluted $ 0.22     $ 0.18     $ 0.29  
    Book Value per share $ 12.97     $ 12.61     12.24  
                     
    BALANCE SHEET DATA                
    Assets $ 655,305     $ 593,803     $ 553,889  
    Investments securities 20,107     18,204     7,770  
    Total loans, net of unearned income 538,439     483,411     416,746  
    Total deposits 577,781     518,230     492,726  
    Borrowings 26,672     26,648     16,118  
    Shareholders’ equity 45,308     44,051     41,535  
    Loan to Deposit ratio 93.19 %   93.28 %   84.58 %
    Wholesale Deposits to Total Deposits 7.04 %   1.09 %   0.86 %
                     
    AVERAGE BALANCE SHEET DATA                
    Average assets $ 619,122     $ 590,625     $ 550,500  
    Average total loans, net of unearned income 506,469     461,476     417,451  
    Average total deposits 541,858     515,457     488,822  
    Average shareholders’ equity 44,990     43,825     41,266  
                     
    ASSET QUALITY RATIOS                
    Net (charge-offs) recoveries $     $     $  
    Net (charge-offs) recoveries to average loans 0.00 %   0.00 %   0.00 %
    Non-performing loans as a % of loans 1.22 %   0.06 %   0.11 %
    Non-performing assets as a % of assets 1.00 %   0.05 %   0.08 %
    Allowance for loan losses as a % of total loans 1.39 %   1.42 %   1.59 %
    Allowance for loan losses as a % of non-performing loans 113.61 %   22.94 %   6.94 %
                     
    FINANCIAL RATIOSSTATISTICS                
    Annualized return on average equity 8.17 %   6.96 %   11.71 %
    Annualized return on average assets 0.59 %   0.52 %   0.88 %
    Net interest margin 3.85 %   3.70 %   3.77 %
    Efficiency ratio 69.26 %   75.75 %   61.91 %
                     
    CAPITAL RATIOS                
    Tier 1 leverage ratio — Bank 11.38 %   11.70 %   10.20 %
    Common equity tier 1 ratio — Bank 10.95 %   11.87 %   11.26 %
    Tier 1 risk-based capital ratio — Bank 10.95 %   11.87 %   11.26 %
    Total risk-based capital ratio –Bank 12.13 %   13.07 %   12.51 %
                     
    TCE/TA * 6.91 %   7.42 %   7.50 %
    Tangible Book Value per Share $ 12.97     $ 12.55     12.16 %
                     
    *Non-GAAP financial measure.                
    Unaudited financials 2024                
                     

    Endeavor Bancorp Contact Information:
    (858) 230.5185
    Dan Yates, CEO
    dyates@bankendeavor.com

    (858) 230.4243
    Steve Sefton, President
    ssefton@bankendeavor.com

    The MIL Network

  • MIL-OSI: GraniteShares – Delisting ETPs – Euronext Paris

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Oct. 21, 2024 (GLOBE NEWSWIRE) —

    GraniteShares Financial Plc
    21 October 2024
    LEI: 635400MFOIY6BX1JUC92

    GRANITESHARES FINANCIAL PLC (the “Issuer”)
    NOTICE OF DELISTING

    THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about what action you should take, you are recommended to consult your independent financial adviser.

    NOTICE is hereby given by the Issuer to the holders of the ETP Securities listed in Schedule 1 thereto (the “Affected Series”), that with effect from open of trading on 28 October 2024, the Relevant Series will be delisted from the exchange set out in Schedule 1 hereto. The Relevant Series will continue to trade on all other exchanges on which they are listed, as set out in Schedule 2 hereto (the “Remaining Trading Lines”).

    Capitalised terms not defined herein shall have the meaning given to them in the Issue Deed relating to the ETP Securities.

    This Notice is given by the Issuer.

    GRANITESHARES FINANCIAL PLC

    By: ______/s/ Aileen Mannion_________________

    Name:   ___ Aileen Mannion ___________________

    Title:      Director

    Ground Floor, Two Dockland Central
    Guild Street
    North Dock
    Dublin 1
    Ireland

    Schedule 1 – Affected Series

    ETP Securities Ticker ISIN SEDOL Last trading day
    GraniteShares 3x Long Airbus Daily ETP Securities 3LAR XS2376933375 BMW5LG9 25 Oct 2024
    GraniteShares 3x Short Airbus Daily ETP Securities 3SAR XS2376937442 BMW5LH0 25 Oct 2024
    GraniteShares 3x Long Volkswagen Daily ETP Securities 3LVW XS2376990417 BMW5M99 25 Oct 2024
    GraniteShares 3x Short Volkswagen Daily ETP Securities 3SVW XS2376991142 BMW5MB1 25 Oct 2024
    GraniteShares 3x Long AMD Daily ETP Securities 3LAM XS2377112110 BMW5LB4 25 Oct 2024
    GraniteShares 3x Long NIO Daily ETP Securities 3LNI XS2600249812 BN91F32 25 Oct 2024
    GraniteShares 3x Long Moderna Daily ETP Securities 3LMO XS2613356620 BRT42Q1 25 Oct 2024
    GraniteShares 3x Short UBER Daily ETP Securities 3SUB XS2626290238 BNDTBW3 25 Oct 2024
    GraniteShares 3x Short NIO Daily ETP Securities 3SNI XS2626290311 BNDTCJ7 25 Oct 2024
    GraniteShares 3x Long Facebook Daily ETP Securities 3LFB XS2656469561 BPLW388 25 Oct 2024
    GraniteShares 3x Short Tesla Daily ETP Securities 3STS XS2656471039 BP83M32 25 Oct 2024
    GraniteShares 3x Long Tesla Daily ETP Securities 3LTS XS2656472193 BP83LQ8 25 Oct 2024
    GraniteShares 3x Long Microsoft Daily ETP Securities 3LMS XS2662640627 BNYJ8J8 25 Oct 2024
    GraniteShares 3x Long UBER Daily ETP Securities 3LUB XS2662640973 BNYK9D2 25 Oct 2024
    GraniteShares 3x Short Apple Daily ETP Securities 3SAP XS2662641195 BNYKBB4 25 Oct 2024
    GraniteShares 3x Short Alphabet Daily ETP Securities 3SAL XS2671672223 BQ2L1X2 25 Oct 2024
    GraniteShares 3x Short Facebook Daily ETP Securities 3SFB XS2671672819 BQ2L217 25 Oct 2024
    GraniteShares 3x Short Amazon Daily ETP Securities 3SZN XS2671672900 BQ2L251 25 Oct 2024
    GraniteShares 3x Short Netflix Daily ETP Securities 3SNF XS2675292135 BMZ8DH0 25 Oct 2024
    GraniteShares 3x Long Amazon Daily ETP Securities 3LZN XS2675292218 BMZ8DN6 25 Oct 2024
    GraniteShares 3x Long Alphabet Daily ETP Securities 3LAL XS2675292309 BMZ8DT2 25 Oct 2024
    GraniteShares FAANG ETP Securities FANG XS2679084603 BNT9FS1 25 Oct 2024
    GraniteShares 1x Short FAANG Daily ETP Securities SFNG XS2679090162 BNT9V49 25 Oct 2024
    GraniteShares 3x Long FAANG Daily ETP Securities 3FNG XS2679091996 BNT9VF0 25 Oct 2024
    GraniteShares 3x Short FAANG Daily ETP Securities 3SFG XS2684011211 BP6LNX5 25 Oct 2024
    GraniteShares GAFAM ETP Securities GFAM XS2684011641 BQBBD59 25 Oct 2024
    GraniteShares 1x Short GAFAM Daily ETP Securities SGFM XS2684011997 BQBBDF9 25 Oct 2024
    ETP Securities Ticker ISIN SEDOL Last trading day
    GraniteShares 3x Long GAFAM Daily ETP Securities 3GFM XS2693059839 BKPLWL2 25 Oct 2024
    GraniteShares 3x Short GAFAM Daily ETP Securities 3SGF XS2693061819 BKPLWT0 25 Oct 2024
    GraniteShares FATANG ETP Securities FTNG XS2693061900 BLDC6C3 25 Oct 2024
    GraniteShares 1x Short FATANG Daily ETP Securities SFTG XS2696137772 BMX7LB9 25 Oct 2024
    GraniteShares 3x Long FATANG Daily ETP Securities 3FTG XS2696138077 BMX7LL9 25 Oct 2024
    GraniteShares 3x Short FATANG Daily ETP Securities 3SFT XS2696138150 BMX7LW0 25 Oct 2024
    GraniteShares 3x Short Microsoft Daily ETP Securities 3SMS XS2722160707 BNDSDD5 25 Oct 2024
    GraniteShares 3x Long Apple Daily ETP Securities 3LAP XS2722161424 BNDSDJ1 25 Oct 2024
    GraniteShares 3x Long NVIDIA Daily ETP Securities 3LNV XS2734938835 BNDQT31 25 Oct 2024
    GraniteShares 3x Short Palantir Daily ETP Securities 3SPA XS2836484787 BQGD0Q0 25 Oct 2024
    GraniteShares 3x Short AMD Daily ETP Securities 3SAM XS2838543457 BSMMMN6 25 Oct 2024
    GraniteShares 3x Short Moderna Daily ETP Securities 3SMO XS2838543614 BSMMN00 25 Oct 2024
    GraniteShares 3x Short NVIDIA Daily ETP Securities 3SNV XS2842095676 BS4DNR8 25 Oct 2024
    GraniteShares 3x Long Palantir Daily ETP Securities 3LPA XS2856105833 BMY3FT2 25 Oct 2024
    GraniteShares 3x Long Netflix Daily ETP Securities 3LNF XS2856106302 BMY3FX6 25 Oct 2024


    Schedule 2 – Remaining Trading Lines

    ETP Securities ISIN Listing venues Ticker SEDOL Trading currency
    GraniteShares 3x Long Airbus Daily ETP Securities XS2376933375 London Stock Exchange LAR3 BMHWFM9 GBX
    GraniteShares 3x Short Airbus Daily ETP Securities XS2376937442 London Stock Exchange SAR3 BMHWFP2 GBX
    GraniteShares 3x Long Volkswagen Daily ETP Securities XS2376990417 London Stock Exchange LVW3 BMHWFJ6 GBX
    GraniteShares 3x Short Volkswagen Daily ETP Securities XS2376991142 London Stock Exchange SVW3 BMHWFK7 GBX
    GraniteShares 3x Long AMD Daily ETP Securities XS2377112110 Borsa Italiana – ETF Plus 3LAM BP9MTV5 EUR
    London Stock Exchange 3LAM BMHW8T7 USD
    London Stock Exchange LAM3 BMHWF07 GBP
    GraniteShares 3x Long NIO Daily ETP Securities XS2600249812 Borsa Italiana – ETF Plus 3LNI BN91F21 EUR
    London Stock Exchange 3LIE BN91F09 EUR
    London Stock Exchange 3LNI BN91DY9 USD
    London Stock Exchange 3LIP BN91F10 GBX
    GraniteShares 3x Long Moderna Daily ETP Securities XS2613356620 Borsa Italiana – ETF Plus 3LMO BL54928 EUR
    London Stock Exchange 3LMO BL54939 USD
    London Stock Exchange MOL3 BL54940 GBP
    GraniteShares 3x Short UBER Daily ETP Securities XS2626290238 Borsa Italiana – ETF Plus 3SUB BNDTBX4 EUR
    London Stock Exchange 3SUE BNDTC97 EUR
    London Stock Exchange 3SUB BNDTC86 USD
    London Stock Exchange 3SUP BNDTCB9 GBX
    GraniteShares 3x Short NIO Daily ETP Securities XS2626290311 Borsa Italiana – ETF Plus 3SNI BNDTCL9 EUR
    London Stock Exchange 3SIE BNDTCP3 EUR
    London Stock Exchange 3SNI BNDTCN1 USD
    London Stock Exchange 3SIP BNDTCQ4 GBX
    GraniteShares 3x Long Facebook Daily ETP Securities XS2656469561 Borsa Italiana – ETF Plus 3LFB BPLW377 EUR
    London Stock Exchange 3LFE BPLW366 EUR
    London Stock Exchange 3LFB BPLW322 USD
    London Stock Exchange 3LFP BPLW333 GBX
    ETP Securities ISIN Listing venues Ticker SEDOL Trading currency
    GraniteShares 3x Short Tesla Daily ETP Securities XS2656471039 Borsa Italiana – ETF Plus 3STS BP83M21 EUR
    London Stock Exchange 3STE BP83M10 EUR
    London Stock Exchange 3STS BP83LZ7 USD
    London Stock Exchange 3STP BP83M09 GBX
    GraniteShares 3x Long Tesla Daily ETP Securities XS2656472193 Borsa Italiana – ETF Plus 3LTS BP83KJ4 EUR
    London Stock Exchange 3LTE BP83K94 EUR
    London Stock Exchange 3LTS BP83K61 USD
    London Stock Exchange 3LTP BP83K83 GBX
    GraniteShares 3x Long Microsoft Daily ETP Securities XS2662640627 Borsa Italiana – ETF Plus 3LMS BNYJ8H6 EUR
    London Stock Exchange 3LME BNYJ8C1 EUR
    London Stock Exchange 3LMS BNYJ898 USD
    London Stock Exchange 3LMP BNYJ8B0 GBX
    GraniteShares 3x Long UBER Daily ETP Securities XS2662640973 Borsa Italiana – ETF Plus 3LUB BNYK9C1 EUR
    London Stock Exchange 3LUE BNYK987 EUR
    London Stock Exchange 3LUB BNYJXJ3 USD
    London Stock Exchange 3LUP BNYK976 GBX
    GraniteShares 3x Short Apple Daily ETP Securities XS2662641195 Borsa Italiana – ETF Plus 3SAP BNYKB03 EUR
    London Stock Exchange 3SAE BNYK9Z4 EUR
    London Stock Exchange 3SAP BNYK9T8 USD
    London Stock Exchange 3SWP BNYK9V0 GBX
    GraniteShares 3x Short Alphabet Daily ETP Securities XS2671672223 Borsa Italiana – ETF Plus 3SAL BQ2L1W1 EUR
    London Stock Exchange 3SGE BQ2L1V0 EUR
    London Stock Exchange 3SAL BQ2KSF0 USD
    London Stock Exchange 3SGP BQ2L1T8 GBX
    GraniteShares 3x Short Facebook Daily ETP Securities XS2671672819 Borsa Italiana – ETF Plus 3SFB BQ2L206 EUR
    London Stock Exchange 3SFE BQ2L1Z4 EUR
    London Stock Exchange 3SFB BQ2KSG1 USD
    London Stock Exchange 3SFP BQ2L1Y3 GBX
    ETP Securities ISIN Listing venues Ticker SEDOL Trading currency
    GraniteShares 3x Short Amazon Daily ETP Securities XS2671672900 Borsa Italiana – ETF Plus 3SZN BQ2L240 EUR
    London Stock Exchange 3SPE BQ2L239 EUR
    London Stock Exchange 3SZN BQ2L1M1 USD
    London Stock Exchange 3SZP BQ2L228 GBX
    GraniteShares 3x Short Netflix Daily ETP Securities XS2675292135 Borsa Italiana – ETF Plus 3SNF BMZ8DJ2 EUR
    London Stock Exchange 3SNE BMZ8DF8 EUR
    London Stock Exchange 3SNF BMZ8DD6 USD
    London Stock Exchange 3SNP BMZ8DG9 GBX
    GraniteShares 3x Long Amazon Daily ETP Securities XS2675292218 Borsa Italiana – ETF Plus 3LZN BMZ8DP8 EUR
    London Stock Exchange 3LPE BMZ8DL4 EUR
    London Stock Exchange 3LZN BMZ8DK3 USD
    London Stock Exchange 3LZP BMZ8DM5 GBX
    GraniteShares 3x Long Alphabet Daily ETP Securities XS2675292309 Borsa Italiana – ETF Plus 3LAL BMZ8DV4 EUR
    London Stock Exchange 3LGE BMZ8DR0 EUR
    London Stock Exchange 3LAL BMZ8DQ9 USD
    London Stock Exchange 3LGP BMZ8DS1 GBX
    GraniteShares FAANG ETP Securities XS2679084603 Borsa Italiana – ETF Plus FANG BNT9FQ9 EUR
    Deutsche Boerse FNNG BNT9FR0 EUR
    London Stock Exchange FANE BNT9FP8 EUR
    London Stock Exchange FANG BNT9FM5 USD
    London Stock Exchange FANP BNT9FN6 GBX
    GraniteShares 1x Short FAANG Daily ETP Securities XS2679090162 Borsa Italiana – ETF Plus SFNG BNT9VB6 EUR
    Deutsche Boerse FNNS BNT9V94 EUR
    London Stock Exchange SFNE BNT9V72 EUR
    London Stock Exchange SFNG BNT9V50 USD
    London Stock Exchange SFNP BNT9V61 GBX
    ETP Securities ISIN Listing venues Ticker SEDOL Trading currency
    GraniteShares 3x Long FAANG Daily ETP Securities XS2679091996 Borsa Italiana – ETF Plus 3FNG BNT9VC7 EUR
    Deutsche Boerse FA3L BNT9VD8 EUR
    London Stock Exchange 3FNE BNT9VH2 EUR
    London Stock Exchange 3FNG BNT9VG1 USD
    London Stock Exchange 3FNP BNT9VJ4 GBX
    GraniteShares 3x Short FAANG Daily ETP Securities XS2684011211 Borsa Italiana – ETF Plus 3SFG BP6LNR9 EUR
    Deutsche Boerse FA3S BP6LNZ7 EUR
    London Stock Exchange 3S1E BP6LNM4 EUR
    London Stock Exchange 3SFG BP6LNK2 USD
    London Stock Exchange 3S1P BP6LNL3 GBX
    GraniteShares GAFAM ETP Securities XS2684011641 Borsa Italiana – ETF Plus GFAM BQBBD48 EUR
    Deutsche Boerse GFAM BQBBD60 EUR
    London Stock Exchange GFME BQBBD37 EUR
    London Stock Exchange GFAM BQBBD15 USD
    London Stock Exchange GFMP BQBBD26 GBX
    GraniteShares 1x Short GAFAM Daily ETP Securities XS2684011997 Borsa Italiana – ETF Plus SGFM BQBBDC6 EUR
    Deutsche Boerse GF1S BQBBDG0 EUR
    London Stock Exchange SGME BQBBDB5 EUR
    London Stock Exchange SGFM BQBBD82 USD
    London Stock Exchange SGMP BQBBD93 GBX
    GraniteShares 3x Long GAFAM Daily ETP Securities XS2693059839 Borsa Italiana – ETF Plus 3GFM BKPLWM3 EUR
    Deutsche Boerse GF3L BKPLWN4 EUR
    London Stock Exchange 3GME BKPLWJ0 EUR
    London Stock Exchange 3GFM BKPLWH8 USD
    London Stock Exchange 3GMP BKPLWK1 GBX
               
    ETP Securities ISIN Listing venues Ticker SEDOL Trading currency
    GraniteShares 3x Short GAFAM Daily ETP Securities XS2693061819 Borsa Italiana – ETF Plus 3SGF BKPLX53 EUR
    Deutsche Boerse GF3S BKPMLX0 EUR
    London Stock Exchange 3S2E BKPLWQ7 EUR
    London Stock Exchange 3SGF BKPLWP6 USD
    London Stock Exchange 3S2P BKPLWS9 GBX
    GraniteShares FATANG ETP Securities XS2693061900 Borsa Italiana – ETF Plus FTNG BMBXTG0 EUR
    Deutsche Boerse FATN BNTYJR3 EUR
    London Stock Exchange FTNE BKPMM04 EUR
    London Stock Exchange FTNG BKPMLY1 USD
    London Stock Exchange FTNP BKPMM15 GBX
    GraniteShares 1x Short FATANG Daily ETP Securities XS2696137772 Borsa Italiana – ETF Plus SFTG BMX7LC0 EUR
    Deutsche Boerse 1SFT BMX7LD1 EUR
    London Stock Exchange SFTE BMX7L75 EUR
    London Stock Exchange SFTG BMX7L64 USD
    London Stock Exchange SFTP BMX7L86 GBX
    GraniteShares 3x Long FATANG Daily ETP Securities XS2696138077 Borsa Italiana – ETF Plus 3FTG BMX7LM0 EUR
    Deutsche Boerse 3FTG BMX7LN1 EUR
    London Stock Exchange 3FTE BMX7LJ7 EUR
    London Stock Exchange 3FTG BMX7LH5 USD
    London Stock Exchange 3FTP BMX7LK8 GBX
    GraniteShares 3x Long FATANG Daily ETP Securities XS2696138150 Borsa Italiana – ETF Plus 3SFT BMX7LX1 EUR
    Deutsche Boerse FT3S BMX7LY2 EUR
    London Stock Exchange 3S3E BMX7LT7 EUR
    London Stock Exchange 3SFT BMX7LR5 USD
    London Stock Exchange 3S3P BMX7LV9 GBX
               
    ETP Securities ISIN Listing venues Ticker SEDOL Trading currency
    GraniteShares 3x Short Microsoft Daily ETP Securities XS2722160707 Borsa Italiana – ETF Plus 3SMS BNDSDF7 EUR
    London Stock Exchange 3SME BNDSDB3 EUR
    London Stock Exchange 3SMS BNDSD79 USD
    London Stock Exchange 3SMP BNDSDC4 GBX
    GraniteShares 3x Long Apple Daily ETP Securities XS2722161424 Borsa Italiana – ETF Plus 3LAP BNDSDK2 EUR
    London Stock Exchange 3LAE BNDSDG8 EUR
    London Stock Exchange 3LAP BNDSD80 USD
    London Stock Exchange 3LWP BNDSDH9 GBX
    GraniteShares 3x Long NVIDIA Daily ETP Securities XS2734938835 Borsa Italiana – ETF Plus 3LNV BNDQT19 EUR
    London Stock Exchange 3LVE BNDQT08 EUR
    London Stock Exchange 3LNV BNDQSX4 USD
    London Stock Exchange 3LVP BNDQSZ6 GBX
    GraniteShares 3x Short Palantir Daily ETP Securities XS2836484787 Borsa Italiana – ETF Plus 3SPA BQGD0P9 EUR
    London Stock Exchange 3SPA BQGD0M6 USD
    London Stock Exchange SPL3 BQGD0N7 GBP
    GraniteShares 3x Short AMD Daily ETP Securities XS2838543457 Borsa Italiana – ETF Plus 3SAM BSMMMP8 EUR
    London Stock Exchange 3SMD BSMMMQ9 USD
    London Stock Exchange SAM3 BSMMMR0 GBP
    GraniteShares 3x Short Moderna Daily ETP Securities XS2838543614 Borsa Italiana – ETF Plus 3SMO BSMMN11 EUR
    London Stock Exchange 3SMO BSMMN22 USD
    London Stock Exchange SOL3 BSMMN33 GBP
    GraniteShares 3x Short NVIDIA Daily ETP Securities XS2842095676 Borsa Italiana – ETF Plus 3SNV BS4DNQ7 EUR
    London Stock Exchange 3SVE BS4DNP6 EUR
    London Stock Exchange 3SNV BS4DNM3 USD
    London Stock Exchange 3SVP BS4DNN4 GBX
    GraniteShares 3x Long Palantir Daily ETP Securities XS2856105833 Borsa Italiana – ETF Plus 3LPA BMY3FV4 EUR
    London Stock Exchange 3LPA BRXCWT4 USD
    London Stock Exchange PAL3 BRXCWV6 GBP
    ETP Securities ISIN Listing venues Ticker SEDOL Trading currency
    GraniteShares 3x Long Netflix Daily ETP Securities XS2856106302 Borsa Italiana – ETF Plus 3LNF BMY3FW5 EUR
    London Stock Exchange 3LNE BRXCWX8 EUR
    London Stock Exchange 3LNF BRXCWW7 USD
    London Stock Exchange 3LNP BRXCWZ0 GBX
               
               

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

    The MIL Network

  • MIL-OSI United Kingdom: Coventry loan shark jailed

    Source: City of Coventry

    A 38-year-old man who operated as a loan shark in Coventry has been sentenced to 31 months in prison and handed a Criminal Behaviour Order in a first for the national Illegal Money Lending Team.

    James Ringrose lent thousands of pounds to people, including workmates, charging ‘exorbitant’ interest rates and putting pressure on them to make them pay, Warwick Crown Court heard. He left borrowers feeling distraught and even suicidal as they struggled to pay him back.

    Ringrose admitted two charges of illegal money lending and money laundering following an investigation by the England Illegal Money Lending Team (IMLT) and appeared before the court to be sentenced on Friday. (October 18)

    The case was prosecuted by the IMLT in partnership with Coventry Trading Standards and West Midlands Police.

    Mr Jonathan Barker, prosecuting on behalf of the IMLT, told the court Ringrose was operating as a loan shark between 2016 and July 2024 and used some of the proceeds to fund a house extension and cosmetic procedures in Turkey.

    Ringrose was not authorised by the Financial Condict Authority to lend money, which meant he could charge whatever he wanted and did not have to abide by the rules that protect borrowers.

    Mr Barker said one of Ringrose’s borrowers was a workmate who needed some cash but could not get a loan through a mainstream lender. He borrowed £40 and repaid £60. A few weeks later borrowed a further £100 and told to repay £140. The borrowing continued and by 2019 he was repaying Ringrose £400 a month.

    Mr Barker said the borrower would go to a cashpoint and meet Ringrose, who had a clipboard and crossed his name off when he handed over cash. He said Ringrose also asked this borrower to withdraw using debit cards belonging to other people.

    Mr Barker said the borrowing ‘spiralled out of control’. He was never given any paperwork and never knew exactly how much he owed.

    Another colleague who needed money to repair a vehicle, borrowed £200 and was told she would have to repay £280 by the end of the month. She later took another loan on the same terms and when she struggled to repay, they came to an agreement where she was repaying £80 a month. Mr Barker said she was so scared of repercussions she continued to make payments for three years, significantly more than the original sum.

    After an initial investigation by the IMLT, Ringrose was arrested at an address in Barons Croft, Nuneaton.

    Analysis of his accounts showed that since November 2016 there were 317 third party credits totalling more than £80,000, 29 cash credits of over £17,000, 63 third party debits totalling just over £4,500 and 626 cash withdrawals worth over £90,000. There were at least 20 names associated with the transactions.

    He was bailed but the court heard he continued to provide and collect on unauthorised loans to around 10 people, for more than £15,000.

    In July 2024, he was arrested again following a warrant at an address in The Barley Lea, Coventry. During a search of property IMLT officers recovered loan records hidden under the carpet of the bottom stair in a folder.

    New analysis of his bank accounts showed that since May 2023, there were 39 third party credits of just under £3,500, 94 third party debits of over £5,700 and 22 cash withdrawals worth just over £1,000.

    Mr Barker said this showed part of the picture as the defendant would have conducted loan activity in cash.

    The court heard another borrower borrowed £1,000 in various instalments and was charged double interest on anything over £100, which led her into a cycle of debt.

    Mr Barker said: “She estimates that over the years she has borrowed a total of £5,000 and has already paid over £50,000 back, but the defendant had stated she still owes him over £60,000. She states for years she endured constant harassment from the defendant. This includes him persistently contacting her via phone, turning up outside her work address, forcing her to provide bank statements and wage slips to show what funds she has, entering her home without her permission following her and taking her to cash machines to withdraw funds.”

    He said on one occasion Ringrose followed her around Coventry, shouted at her in the street and threatened her partner in order to get her to pay.

    He said another workmate borrowed £3,000, adding: “He states that the defendant never kept his illegal money lending business a secret and was actually quite boastful about it. Ringrose told him that he would operate like a ‘payday loan lender’ and after collecting payments from people, they would have to borrow again from him immediately. He boasted that he had a constant stream of income.”

    Mr Barker added: “The prosecution case is that the loan business was lucrative. The defendant would brag to others about how lucrative it was. It helped him fund an extension to his property and pay for cosmetic treatments in Turkey.”

    Mr Barker also said when Ringrose found out that the IMLT had begun an investigation he tried to persuade borrowers not to speak to officers, offering money as an incentive.

    Mr Gerard Cullen, defending, told the court there was a lack of sophistication in the offending and Ringrose did not realise he was acting illegally at first.

    The judge, Mr Recorder Tom Restall, said despite coming to the attention of the authorities, Ringrose continued to lend money, charging ‘exorbitant’ levels of interest.

    He said borrowers’ mental health suffered badly and one reported feeling suicidal.

    For the first count of illegal money lending, Ringrose was sentenced to 16 months in jail to run concurrently with a three-month sentence for money laundering.

    For the second offence of illegal lending, he was handed a 12-month sentence together with one month for money laundering, to run concurrently, but consecutive to the first set of offences.

    He was also handed three months’ custody for breach of a suspended sentence for an earlier unrelated offence, bringing his total sentence to 31 months.

    Ringrose was also made subject to a 10-year restraining order in relation to one borrower and handed a Criminal Behaviour order for five years, which means he must not enter the Stoke Aldemoor area of Coventry and not provide or collect unauthorised loans, directly or indirectly. If he breaches either order he could face a further jail term. A POCA timetable was set.

    Councillor Abdul Salam Khan, chair of Coventry’s Police and Crime Board, added: “It is really disturbing how the culprits operate and that’s why I’m pleased about the action that has been taken to deal with this case. It shows the importance and effectiveness of partnership working between the Council’s trading standards officers and the Illegal Money Lending Team. I’d encourage anyone who has been affected by illegal money lending to get in touch on the Stop Loan Sharks helpline or via their online support.”

    Dave Benbow, acting head of the IMLT, a national organisation hosted by Birmingham City Council, which investigates and prosecutes loan sharks, said: “This case is the first time we have used a Criminal Behaviour Order, which means that not only has Ringrose been punished for his illegal money lending activities, he will also be subject to strict rules that stop him acting as an illegal lender in the future.

    “Even when illegal lenders are convicted and sentenced, that is not the end of it. We will do whatever we can to ensure they are not free to continue to blight communities in any way.

    “Once again, we are grateful to all the witnesses who came forward in this case. We realise it’s not easy, but this shows that we can and will continue to take the strongest possible action against illegal lenders to make our communities safer.”

    Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 Helpline on 0300 555 2222 or access support online at http://www.stoploansharks.co.uk. Live Chat is available on the website from 9am to 5pm, Monday to Friday.

    MIL OSI United Kingdom

  • MIL-OSI Global: Wild animals can experience trauma and adversity too − as ecologists, we came up with an index to track how it affects them

    Source: The Conversation – USA – By Xochitl Ortiz Ross, Ph.D. Candidate in Ecology & Evolutionary Biology, University of California, Los Angeles

    Marmots were the perfect test species for a wildlife adversity index. Xochitl Ortiz Ross

    Psychologists know that childhood trauma, or the experience of harmful or adverse events, can have lasting repercussions on the health and well-being of people well into adulthood. But while the consequences of early adversity have been well researched in humans, people aren’t the only ones who can experience adversity.

    If you have a rescue dog, you probably have witnessed how the abuse or neglect it may have experienced earlier in life now influence its behavior – these pets tend to be more skittish or reactive. Wild animals also experience adversity. Although their negative experiences are easy to dismiss as part of life in the wild, they still have lifelong repercussions – just like traumatic events in people and pets.

    As behavioral ecologists, we are interested in how adverse experiences early in life can affect animals’ behavior, including the kinds of decisions they make and the way they interact with the world around them. In other words, we want to see how these experience affect the way they behave and survive in the wild.

    Many studies in humans and other animals have shown the importance of early life experiences in shaping how individuals develop. But researchers know less about how multiple, different instances of adversity or stressors can accumulate within the body and what their overall impact is on an animal’s well-being.

    Wild populations face many kinds of stressors. They compete for food, risk getting eaten by a predator, suffer illness and must contend with extreme weather conditions. And as if life in the wild wasn’t hard enough, humans are now adding additional stressors such as chemical, light and sound pollution, as well as habitat destruction.

    Given the widespread loss of biodiversity, understanding how animals react to and are harmed by these stressors can help conservation groups better protect them. But accounting for such a diversity of stressors is no easy feat. To address this need and demonstrate the cumulative impact of multiple stressors, our research team decided to develop an index for wild animals based on psychological research on human childhood trauma.

    A cumulative adversity index

    Developmental psychologists began to develop what psychologists now call the adverse childhood experiences score, which describes the amount of adversity a person experienced as a child. Briefly, this index adds up all the adverse events – including forms of neglect, abuse or other household dysfunction – an individual experienced during childhood into a single cumulative score.

    This score can then be used to predict later-life health risks such as chronic health conditions, mental illness or even economic status. This approach has revolutionized many human health intervention programs by identifying at-risk children and adults, which allows for more targeted interventions and preventive efforts.

    So, what about wild animals? Can we use a similar type of score or index to predict negative survival outcomes and identify at-risk individuals and populations?

    These are the questions we were interested in answering in our latest research paper. We developed a framework on how to create a cumulative adversity index – similar to the adverse childhood experiences score, but for populations of wild animals. We then used this index to gain insights about the survival and longevity of yellow-bellied marmots. In other words, we wanted to see whether we could use this index to estimate how long a marmot would live.

    A marmot case study

    Yellow-bellied marmots are a large ground squirrel closely related to groundhogs. Our research group has been studying these marmots in Colorado at the Rocky Mountain Biological Laboratory since 1962.

    A marmot wearing an ear tag.
    Xochitl Ortiz Ross

    Yellow-bellied marmots are an excellent study system because they are diurnal, or active during the day, and they have an address. They live in burrows scattered across a small, defined geographical area called a colony. The size of the colony and the number of individuals that reside within varies greatly from year to year, but they are normally composed of matrilines, which means related females tend to remain within the natal colony, while male relatives move away to find a new colony.

    Yellow-bellied marmots hibernate for most of the year, but they become active between April and September. During this active period, we observe each colony daily and regularly trap each individual in the population – that’s over 200 unique individuals just in 2023. We then mark their backs with a distinct symbol and give them uniquely numbered ear tags so they can be later identified.

    Although they can live up to 15 years, we have detailed information about the life experiences of individual marmots spanning almost 30 generations. They were the perfect test population for our cumulative adversity index.

    Among the sources of adversity, we included ecological measures such as a late spring, a summer drought and high predator presence. We also included parental measures such as having an underweight or stressed mother, being born or weaned late, and losing their mother. The model also included demographic measures such as being born in a large litter or having many male siblings.

    Importantly, we looked only at females, since they are the ones who tend to stay home. Therefore, some of the adversities listed are only applicable to females. For example, females born in litters with many males become masculinized, likely from the high testosterone levels in the mother’s uterus. The females behave more like males, but this also reduces their life span and reproductive output. Therefore, having many male siblings is harmful to females, but maybe not to males.

    A yellow-bellied marmot shown on a trail camera in Montana.

    So, does our index, or the number of adverse events a marmot experienced early on, explain differences in marmot survival? We found that, yes, it does.

    Experiencing even just one adversity event before age 2 nearly halved an adult marmot’s odds of survival, regardless of the type of adversity they experienced. This is the first record of lasting negative consequences from losing a mother in this species.

    So what?

    Our study isn’t the only one of its kind. A few other studies have used an index similar to the human adverse childhood experiences score with wild primates and hyenas, with largely similar results. We are interested in broadening this framework so that other researchers can adopt it for the species they study.

    A better understanding of how animals can or cannot cope with multiple sources of adversity can inform wildlife conservation and management practices. For example, an index like ours could help identify at-risk populations that require a more immediate conservation action.

    Instead of tackling the one stressor that seems to have the greatest effect on a species, this approach could help managers consider how best to reduce the total number of stressors a species experiences.

    For example, changing weather patterns driven by global heating trends may create new stressors that a wildlife manager can’t address. But it might be possible to reduce how many times these animals have to interact with people during key times of the year by closing trails, or providing extra food to replace the food they lose from harsh weather.

    While this index is still in early development, it could one day help researchers ask new questions about how animals adapt to stress in the wild.

    Xochitl Ortiz Ross has received funding from The National Science Foundation, The University of California, Los Angeles, The Rocky Mountain Biological Laboratory, The Animal Behavior Society, The American Society of Mammalogists, and The American Museum of Natural History.

    Daniel T. Blumstein received funding from The National Science Foundation, The University of California Los Angeles, The Rocky Mountain Biological Laboratory and the National Geographic Society.

    ref. Wild animals can experience trauma and adversity too − as ecologists, we came up with an index to track how it affects them – https://theconversation.com/wild-animals-can-experience-trauma-and-adversity-too-as-ecologists-we-came-up-with-an-index-to-track-how-it-affects-them-237913

    MIL OSI – Global Reports

  • MIL-OSI Canada: Importers now benefiting from new accounting system for the collection of duties and taxes for commercial goods

    Source: Government of Canada News

    Importers now benefiting from new accounting system for the collection of duties and taxes for commercial goods

    Ottawa (Ontario) – October 21, 2024

    Today, the Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) became the official system to assess and collect duties and taxes for commercial goods imported into Canada. The launch of this system represents the culmination of many years of dedicated effort and innovation at the CBSA, engagement with partners, and simulations to enhance the user experience.

    As the Government of Canada’s second-largest revenue collector after the Canada Revenue Agency, this new system better equips the CBSA to protect and grow $40 billion a year in revenue for Canadians.

    CARM also benefits trade chain partners by:

    • eliminating cumbersome and time-consuming paper-based processes
    • streamlining access to tools and information for importers, giving them the ability to enroll in commercial programs, submit accounting documents and receive notifications through their CARM Client Portal account
    • maintaining a level playing field for all businesses by providing the CBSA better compliance and enforcement tools

    This important milestone follows broad consultation with stakeholders and extensive system testing to ensure a smooth transition from outdated to modern systems.

    The launch of CARM will not affect wait times at the border. The system used by officers at the border to determine the eligibility of commercial goods for entry into Canada will not be changing. Additionally, the CBSA has a detailed contingency plan in place to ensure the continuation of commercial activities in the event of any technical issues.

    Media Relations
    Canada Border Services Agency
    media@cbsa-asfc.gc.ca
    613-957-6500 or 1-877-761-5945

    MIL OSI Canada News

  • MIL-OSI Canada: Saguenay–St. Lawrence Marine Park expansion project

    Source: Government of Canada News

    The St. Lawrence Estuary is a collective gem, both culturally and naturally. The project involves expanding the Saguenay-St. Lawrence Marine Park to help protect a larger part of its estuary. Some 400 km long and up to 350 m deep, it is one of the largest and deepest estuaries in the world.

    The proposed expansion would thus bring the Marine Park’s total surface area to 4,487 km2, i.e. 3.6 times its current size. It is proposed to expand the park’s boundaries to the river’s south shore, reaching the administrative regions of Chaudière-Appalaches and Bas-Saint-Laurent, from the municipality of Saint-Jean-Port-Joli to Bic National Park. On the river’s north shore, according to this proposal, the Marine Park would extend within the two administrative regions already bordering the park in its current configuration, i.e. Capitale-Nationale and Côte-Nord. The proposed expansion extends from the municipality of Petite-Rivière-Saint-François to Boisvert Point in the municipality of Longue-Rive.

    The expansion project involves 4 administrative regions, 8 RCMs and 27 coastal municipalities. The Wolastoqiyik Wahsipekuk First Nation community would border the enlarged Marine Park, in the same way that the Essipit Innu First Nation community does under the park’s current boundaries. When combined with the current Marine Park, the expanded park would concern a total of 37 municipalities and 2 adjacent Indigenous communities. The number of citizens residing in a municipality bordering the Marine Park would rise from 19,000 to over 125,500.

    As is the case for the current Marine Park, the planned expansion includes the water column and the seabeds. The area extends to the normal high-water marks, i.e. the maritime boundary delimitation of Quebec public lands. Islands, private property and maritime infrastructure (ports and marinas) are excluded from the proposal. For maritime facilities that do not have a submerged shore lot, a 25 m radius exclusion around infrastructure is planned.

    Elements of Ecological Interest

    In the estuary, the salt waters of the Atlantic mix with the fresh waters of the St. Lawrence, giving rise to a mosaic of habitats that support a wide array of fauna and flora. The territory proposed for the enlargement represents a tremendous ecological treasure. Although a number of elements are of ecological interest, the project would especially help strengthen protection for belugas, rorquals and coastal herbaceous areas. The targeted expansion area includes:

    ·        The beluga’s entire critical summer habitat;

    ·        Important feeding grounds for rorquals; and

    ·        Fragile coastal habitats such as salt marshes and eelgrass beds.

                                                                                                                         -30-

    MIL OSI Canada News

  • MIL-OSI United Kingdom: IPO campaign highlights dangers of counterfeit vehicle parts  

    Source: United Kingdom – Executive Government & Departments

    The campaign focuses on the serious risks these goods pose, warning that ‘Fake Always Breaks’ .

    • the Intellectual Property Office has launched a new national awareness campaign warning of the dangers of buying counterfeit vehicle parts
    • the ‘Fake Always Breaks’ campaign highlights to consumers and the motor trade that counterfeits are more likely to fail and endanger road users, putting lives at risk
    • safety-critical items such as tyres, wheels, airbags and brakes are among the most commonly-purchased fake items
    • the campaign has been developed in partnership with the motoring industry

    The Intellectual Property Office (IPO) has launched its latest national awareness campaign, warning consumers of the dangers of purchasing counterfeit vehicle parts.

    Organisation for Economic Co-operation and Development (OECD) research estimated that counterfeit vehicle parts imported to the UK were worth almost £1billion in 2016.  

    Driving home a clear message that ‘Fake Always Breaks’, the IPO’s new campaign alerts drivers to the life-threatening dangers such counterfeits pose. These include  items such as brakes, headlights and air bags.

    A survey conducted for the IPO has revealed that one in six motorists who responded said they had bought a counterfeit part in the past 12 months alone.

    The campaign highlights how counterfeit vehicle parts are not subject to the same rigorous testing as legitimate products.  It signposts new guidance advice for consumers and the motoring industry published by the IPO on how to spot and report a fake, developed in partnership with the motoring industry.

    The campaign shows that many of the most commonly-purchased counterfeit car parts in the UK pose significant safety concerns if faulty. These include car batteries (bought by 25% of motorists who admit to buying counterfeit parts), tyres/wheels (23%) and windscreen wipers (19%). 14% of motorists who have purchased fake car parts bought counterfeit airbags, while over a tenth (12%) bought fake brake pads or discs.

    Although many purchases are made unknowingly, almost three fifths (58%) of motorists responding to a survey said they did so knowing  the part was counterfeit.

    The survey also found that getting parts for a lower price was a significant factor among those intentionally buying a fake part, with three in ten (31%) citing cost savings as a reason.

    A third (34%) of motorists who admitted to buying fake parts said they did so because they felt there was no discernible difference in appearance (34%).

    Responses also suggest that such purchases made unknowingly are often uncovered at a later stage. More than two in five motorists (45%) who bought a fake that they thought was genuine, found out through their garage after the part faulted, with 30% becoming aware during routine service checks.

    The campaign is being supported by a range of organisations in the automotive industry and vehicle repair and servicing sectors. These include the Independent Automotive Aftermarket Federation and the Independent Garage Association.

    Vehicle manufacturers including Mercedes Benz, and law enforcement bodies such as the City of London Police’s Intellectual Property Crime Unit (PIPCU), are also involved in the campaign.  It brings targeted social media and industry voices together  to deliver an awareness message that will resonate, and help consumers make informed choices.  

    Miles Rees, IPO Deputy Director of Enforcement  said: 

    This is a serious campaign with a very serious message.  We want to raise awareness that the trade in counterfeit vehicle parts not only harms legitimate traders while enriching criminals, but can also lead to life-changing or life-ending consequences for road users.

    Working with our partners, we’re highlighting that such illicit goods are not subject to safety tests, and are likely to be made using vastly inferior materials.  This puts them at increased risk of failure, with potentially devastating results. 

    Our ‘Fake Always Breaks’ campaign seeks to arm motorists and the vehicle repair and servicing industries with the awareness they need to help spot a fake, avoid the risks and report sellers . It reinforces a clear message that – as with all counterfeiting and piracy – this is anything but a victimless crime.

    Stuart James, Chief Executive Officer at the Independent Garage Association (IGA) said:

    We are pleased to support the IPO’s campaign that aims to raise awareness of the severe safety risks that counterfeit vehicle parts pose to all road users.

    Garages should ensure that they avoid using customer supplied parts and fit parts from trusted suppliers and reputable vehicle parts distributors. This practice not only enhances the safety of vehicles but also reassures customers that all components meet the required specifications.

    We actively encourage any garage that identifies counterfeit parts to report them through the various channels highlighted in the IPO advice. Together, we can combat this issue and contribute to safer roads for all.

    Detective Chief Inspector Emma Warbey, from the Police Intellectual Property Crime Unit (PIPCU), at City of London Police, said:

    Counterfeiting safety-critical car components like tyres, wheels, airbags and brakes demonstrates the lengths that criminals will go to make money and their disregard for the safety of the people who will end up using these products.

    Our officers recently seized 500 counterfeit car airbags, which could have put motorists at risk, during an operation in east London. Fake airbags aren’t manufactured to industry standards, so there’s a real possibility that they won’t inflate during a road traffic collision, or will deploy in error.

    We know that the offer of a good deal can be enticing, but it’s vital to know how to spot the signs of a counterfeit car part and to buy from a reputable seller.

    The campaign builds on previous consumer campaign activities undertaken by the IPO since the publication of its ambitious 5-year counter-infringement strategy, as the office continues to deliver on its commitments to raise public understanding, and ultimately respect, for IP rights.  

    Notes to editor: 

    1. A core strand of IPO’s Counter Infringement Strategy is to raise awareness and understanding of IP crime and infringement and the risks surrounding it.

    2. The IPO regularly commissions research into topics relating to the infringement of intellectual property rights, including Social Media Influencers research published last year, regular reports include the Online Copyright Infringement and Physical Goods Tracker reports. The rese  arch underpinning this campaign is found in the most recent Physical Goods Tracker report.

    3. OECD source: Trade in Counterfeit Products and the UK Economy, 2019 Update

    New guidance has been published by the IPO to consumers and industry.  

    4. Counterfeit vehicle parts are unauthorised copies of a genuine branded part being it an (OEM) part supplied by car manufacturers or aftermarket parts. An aftermarket part is anything not supplied by a vehicle manufacturer under their own brand name. Criminals target both categories. Counterfeit parts are usually made from inferior materials and are not safety-tested, increasing the risk of failure.

    Updates to this page

    Published 21 October 2024

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: UK infrastructure companies visit Costa Rica to explore opportunities

    Source: United Kingdom – Executive Government & Departments

    British Embassy officials facilitated meetings with key stakeholders in the infrastructure sector.

    Representatives of five British companies travelled to Costa Rica this week to participate in an infrastructure mission focused on identifying business opportunities and generating strategic alliances with potential partners in Costa Rica.

    Representatives from Arup, Bechtel, QGMI, Steer Group and WSP, world-renowned for their expertise in engineering, construction, mobility solutions, and design and implementation of infrastructure projects, among other services, held meetings with Congresswoman Carolina Delgado, Secretary of the Infrastructure Commission of the Legislative Assembly, and with officials from the National Concessions Council (CNC), the Ministry of Public Works and Transport (MOPT) and the firm Arias Law.

    They also spoke with officials from institutions like the Ministry of National Planning and Economic Policy (MIDEPLAN), the Costa Rican Electricity Institute (ICE) and the Ministry of Foreign Trade (COMEX) at a reception at the Residence of the British Ambassador, Ben Lyster-Binns.

    At these meetings, the British companies explored opportunities to strengthen their presence in the country, learning more about Costa Rica’s aspirations to update and expand infrastructure projects at the highest international standards.

    Ambassador Ben Lyster-Binns noted:

    The companies that visited us this week are among the leaders in their respective fields and represent the best of what the UK has to offer in the infrastructure sector, from urban planning to sustainable transport projects to designing future-proof cities.

    They are also committed to implementing innovative solutions that support the UK Government’s clean growth agenda.

    The topic of public-private partnerships (PPPs) was of particular interest, since, according to the Embassy’s Director for Business and Trade, Camila Toscana:

    this model provides an opportunity to develop infrastructure projects that are of key importance for Costa Rica’s sustainable growth and to improve the quality of life of the citizens.

    Many of the companies that took part in the mission have offices in the Latin American region, so their interest in the Costa Rican market represents a natural step in expanding their regional presence, offering quality solutions that comply with international best practices.

    The delegation finalized the mission meeting with representatives of CoST, the Infrastructure Transparency Initiative, financed by the UK Government, which promotes transparency and accountability in public infrastructure projects.

    Updates to this page

    Published 21 October 2024

    MIL OSI United Kingdom

  • MIL-OSI Security: Virginia Man Pleads Guilty to Interstate Threat

    Source: Federal Bureau of Investigation (FBI) State Crime News

    Ahead of the Threat Podcast: Episode Zero

    Welcome to Ahead of the Threat, the FBI’s new podcast miniseries that brings together an FBI cyber executive and a private sector chief information security officer. Join Bryan Vorndran, assistant director of the FBI’s Cyber Division, and Jamil Farshchi, a strategic engagement advisor for the FBI who also works as an executive vice president and CISO of Equifax, as they discuss emerging cyber threats and the enduring importance of cybersecurity fundamentals. Featuring distinguished guests from the business world and government, Ahead of the Threat will confront some of the biggest questions in cyber: How will emerging technology impact corporate America? How can corporate boards be structured for cyber resilience? What does the FBI think about generative artificial intelligence? Listen to new episodes biweekly and stay Ahead of the Threat.

    Charity and Disaster Fraud

    Charity fraud scams can come in many forms: emails, social media posts, crowdfunding platforms, cold calls, etc. They are especially common after high-profile disasters. Always use caution and do your research when you’re looking to donate to charitable causes.

    RYAN JAMES WEDDING

    Conspiracy to Distribute and Possess with Intent to Distribute Controlled Substances; Conspiracy to Export Cocaine; Continuing Criminal Enterprise; Murder in Connection with a Continuing Criminal Enterprise and Drug Crime; Attempt to Commit…

    Capitol Violence

    The FBI is seeking to identify individuals involved in the violent activities that occurred at the U.S. Capitol and surrounding areas on January 6, 2021. View photos and related information here. If you have any information to provide, visit tips.fbi.gov or call 1-800-CALL-FBI.

    MIL Security OSI

  • MIL-Evening Report: Where there’s smoke: the rising death toll from climate-charged fire in the landscape

    Source: The Conversation (Au and NZ) – By Fay Johnston, Professor, Menzies Institute for Medical Research, University of Tasmania

    Daria Nipot, Shutterstock

    Inhaling smoke is bad for you. Smoke from any kind of fire, from bonfire to burn-off to uncontrolled wildfire, can have serious consequences.

    Even low levels of smoke can make many heart and lung diseases worse, sometimes triggering a rapid deterioration in health. When we are repeatedly exposed over months and years, air pollution, including smoke, makes us more likely to develop heart, lung and other chronic diseases.

    Now, new international research has linked the warming climate to some of the deaths from exposure to fire smoke in large parts of the world, including Australia.

    In 2012, I led the first team to estimate the number of landscape fire smoke-related deaths globally each year. Our estimate of 339,000 deaths did not attempt to pull out the influence of climate change. But we noticed much higher impacts during hotter and drier El Niño periods.

    The researchers behind the new study took this a step further, estimating how much of the historical burden of fire smoke-related deaths might be attributable to climate change. They found a considerably increasing proportion, from 1.2% in the 1960s to 12.8% in the 2010s.

    Where there’s fire, there’s smoke

    A wall of flames is way more deadly than a bit of smoke in the air – isn’t it? It’s not so simple. When you look back at a fire disaster, the smoke-related death toll in the aftermath can be surprisingly high.

    During the extreme Australian bushfire season of 2019–20, there were 33 deaths directly related to fire. But my team found the number of smoke-related deaths was 429, more than ten times higher.

    Smoke travels vast distances and can affect very large populations. Millions of people in Australia and New Zealand breathed smoke from the 2019-20 Australian fires. The sheer scale of the air quality impacts means the associated public health burden can be very large.

    Smoke harms our health in two ways. In the short term, it makes existing diseases worse. As soon as the body detects smoke, it initiates immune and stress responses that affect, among other things, blood pressure, blood glucose and the risk of forming blood clots.

    For some people with serious chronic illness such as heart and blood vessel disease, these subtle changes can trigger deadly complications including heart attacks or strokes.

    When smoke reaches our eyes, throats and lungs, it acts as an irritant. This can be enough to make people living with asthma or other lung conditions seriously unwell.

    Over the longer term, air pollution is a known risk factor for developing heart disease, lung disease, asthma, diabetes and stroke, and landscape fire smoke is increasingly contributing to the load.

    How did the researchers find this out?

    Most research on the health impact from air pollution focuses on the damage done by fine particles called PM2.5. These particles are defined as those less than 2.5 micrometres in diameter, meaning they are small enough to get into the lungs and bloodstream.

    In the new paper, the authors used computer models to estimate how global changes in fire-related PM2.5 emissions between 1960 and 2019 had been influenced by the warming climate. To do this, they evaluated climate factors known to promote fire activity, such as higher air temperatures and lower humidity. Then, they used modelling to estimate how these changes would have influenced fire activity, smoke exposure and smoke related deaths globally.

    Using this approach, the authors attributed 669 (1.2%) of the wildfire-induced smoke-related deaths in the 1960s to climate change. But that rose to 12,566 (12.8%) in the 2010s. They found the influence of climate change was higher in some regions, including Australia.

    Climate change is making fires worse

    These reported numbers seem to be surprisingly low when put in context with previous global and regional estimates of deaths due to air pollution from landscape fires.

    But estimating how many deaths can be attributed to landscape fire smoke is a challenging task, requiring assumptions about the size and strength of the links between meteorology, fire activity, smoke production and dispersal, population vulnerability and health outcomes in the huge diversity of landscapes, climates and cultures across the world.

    Importantly, the estimates in this recent study were driven by changes in climate. But the modelling approach can less easily account for fluctuations and trends in another incredibly important driver of fire activity on Earth, human activity.

    For example, huge volumes of smoke globally are created by setting fires to burn and clear tropical forests for agriculture. Corporate activity and government policies drive these fires more than climate change, and are harder to capture in a modelling study.

    Nevertheless, these new results clearly support empirical studies showing increases in extreme fire activity attributable to climate change, and illustrates the relative impacts when other influences are held constant. Importantly, it points to parts of the world – including the north and southeast of Australia – where we can expect harmful population smoke impacts to get worse.

    The likely geographic impacts can be put together with information about the location of more vulnerable population groups, or higher population densities, to focus on responses where they are most needed. But in Australia that means pretty much everywhere, including the tropical north.

    What we can do about it?

    To adapt to a smokier world, we will need comprehensive education about escalating air quality hazards and ways to reduce the harm for both the general public and health professionals.

    These include keeping on top of long-term health conditions that could be made worse by air pollution, knowing how to keep track of air quality, and when to use strategies such as face masks, air filtration and managing the ventilation of homes and buildings to reduce individual smoke exposure.

    Adaptive responses alone do not get around the urgent need to act on climate change. Watching fire seasons around the world get steadily worse year on year really frightens me. We are getting into a vicious cycle where the hotter climate is driving more and more fire. These fires are increasingly venting long-stored carbon and contributing to further climate change.

    As well as ending the massive combustion of fossil fuels, we must halt the burning of tropical rainforests and agricultural crop residues globally. These actions will also dramatically improve air quality and health globally and support ongoing capture and storage of atmospheric carbon.

    Fay Johnston receives research funding from the National Health and Medical Research Council, the National Environmental Science Program, Asthma Australia and the health departments of the Tasmanian and ACT governments. She led the development of the air quality app AirRater, and is a founding director of AirHealth Pty Ltd, which provides air quality information services.

    ref. Where there’s smoke: the rising death toll from climate-charged fire in the landscape – https://theconversation.com/where-theres-smoke-the-rising-death-toll-from-climate-charged-fire-in-the-landscape-241590

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Andrew Garfield and Elmo are going viral with their moving chat. Celebrities can help us talk about grief

    Source: The Conversation (Au and NZ) – By Lauren Breen, Professor of Psychology, Curtin University

    Sesame Workshop/YouTube

    When was the last time you heard someone talk in detail about their grief?

    For many of us, it could be rarely or never. There are several reasons for this.

    Grieving people often avoid raising the topic in conversation because they want to avoid upsetting or burdening people. Family and friends of grieving people often feel unsure or uncomfortable about asking them to talk about it, fearing they will infringe on the person’s privacy. One study of grieving adults in Australia and Ireland showed nearly one-third said they didn’t receive the support they would have liked. Some experts note we tend to deny or minimise others’ grief, increasing their isolation.

    Actor Andrew Garfield, best known for playing Spiderman, appeared on Sesame Street last week and spoke with Elmo in moving and affirming ways about grieving his mother’s death. Clips of their short conversation have been widely shared on social media. It presents a great example of communicating well about grief.

    Sadness can be a gift explains Garfield, ‘a lovely thing to feel in a way because it means you really loved somebody when you miss them.’

    Kids grieve too

    Issues around grief and isolation can be the same for children and young people as for older people.

    In fact, grief in young people is recognised as “the last taboo in public health”. By the age of 18, around one in 20 children have a parent die. Even more will experience grief following the deaths of other close people such as siblings and grandparents. Children also grieve the deaths of pets. Yet we struggle to acknowledge, let alone understand and help them with the grief.

    Due to a desire to protect them from harm or distress, adults are often reluctant to talk about dying and death with children. We also underestimate their abilities to understand such difficult topics. My recent work with Lionheart Camp for Kids shows such good intentions leave grieving children with many unanswered questions.

    So it was great to see Andrew Garfield (who has discussed the topic before on talk shows and in interviews) share his experience on children’s television.

    Losing the person who gave you life is bizarre tells Anderson Cooper. ‘It doesn’t make sense.’



    Read more:
    ‘Why did he Leve Me?’ 5 things grieving children want to know about the death of a loved one


    It takes two (or more)

    Their exchange begins with the character of Elmo checking in with Garfield, to see if he’s OK. He asks in a warm and open-ended way.

    What Garfield communicates well is checking if Elmo is willing and comfortable to hear him talk about his thoughts and feelings. He conveys his feelings of grief and speaks about how missing someone is due to love. He shares his understanding about the comforting role memories can bring to the bereaved, and about recognising a deceased person can be celebrated and missed at the same time.

    Elmo also does a great job of listening. He normalises Garfield’s thoughts and feelings, and gently affirms his memories of his deceased mother. Importantly, Elmo doesn’t make the conversation about himself or resort to tired clichés like “this shall pass” or “she’d want you to move on”. He doesn’t minimise his discomfort with jokes or provide unsolicited advice on how to feel or behave.

    Social support in the wake of loss helps grieving people – if it’s done right. Too often, however, it’s not, and can leave grieving people more distressed.

    Though an almost universal need, providing effective social support for grieving people is a complex process. It must involve:

    • a potential supporter recognising the bereaved person’s need for support

    • support that is available, sufficient and offered to the bereaved

    • them perceiving the support as helpful.

    Perceptions of whether an offer if support is useful can depend on where it comes from, the type of support, whether it is offered at the right time, and the griever’s level or receptiveness or social isolation.

    Listening, validating, support

    Garfield and Elmo aren’t the first celebrities to talk openly about grief.

    But in daily life, it’s rare to hear anyone talk openly about these feelings. That’s why it’s so refreshing when people in the public eye break the taboo that surrounds grief and loss. It is important for grieving people of all ages to be able to talk about their grief and be listened to. For potential supporters, it is enriching to think about they can listen, validate and support.

    As Garfield and Elmo show, grieving people and their support people can work together to develop a compassionate connection in a conversation that benefits both parties.

    Lauren Breen receives funding from Healthway and has previously received funding from Wellcome Trust, Australian Research Council, Department of Health (Western Australia), Silver Chain, iCare Dust Diseases Board (New South Wales), and Cancer Council (Western Australia). She is on the board of Lionheart Camp for Kids and is a member of Grief Australia and the Australian Psychological Society.

    ref. Andrew Garfield and Elmo are going viral with their moving chat. Celebrities can help us talk about grief – https://theconversation.com/andrew-garfield-and-elmo-are-going-viral-with-their-moving-chat-celebrities-can-help-us-talk-about-grief-241782

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: NDB positioned to drive growth of member states

    Source: China State Council Information Office

    The New Development Bank will make greater efforts to advance economic growth in emerging economies and help address pressing issues such as climate change as it welcomes more potential members, said Dilma Rousseff, the NDB’s president.

    To help emerging countries ensure stable development and avoid crises, the NDB will facilitate the building of infrastructure in areas such as logistics, education, digital services and healthcare, Rousseff had said during an interview in September after she received China’s Friendship Medal, the highest honor China offers foreigners.

    The NDB has already stepped up efforts to finance infrastructure projects in member countries. It has cumulatively approved loans of $35 billion for 105 projects, with the major ones being the Mumbai Urban Transport Project-III in India, the Serra da Palmeira Wind Power Project in Brazil, and the Jiangxi Urban and Rural Cold Chain Logistics Project in China, according to a Xinhua News Agency report.

    At the end of August, the NDB announced a $280 million loan agreement with Transnet, South Africa’s leading freight transport and logistics company, to support the modernization and improvement of the country’s freight rail sector.

    During a meeting of the bank’s board of directors in late August, a $1-billion loan was approved for financing South Africa’s water and sanitation infrastructure development. Another $150 million loan was approved to China’s Bank of Communications Financial Leasing for the acquisition of at least three liquefied natural gas carriers.

    In January, the NDB inked three loan agreements with India to boost the country’s transportation, water and sanitation infrastructure in designated areas. The combined value of the loans is about $700 million.

    As Rousseff pointed out, developing countries have limited capacity to address climate change. Further development and use of more renewable energy sources was needed, she said. As China is already a world leader in the electric vehicle segment, she hoped the nation would make more progress in energy storage and stable renewable energy supply.

    According to the NDB’s strategy between 2022 and 2026, climate change mitigation will be a focus area, as the majority 40 percent of the bank’s $30 billion financing to be provided by 2026 has been reserved for green goals.

    After issuing a 6-billion yuan ($840 million) five-year panda bond — yuan-denominated bonds issued by overseas institutions in the Chinese onshore market — at the beginning of the year, in July the NDB issued an 8-billion yuan three-year panda bond. The bonds are part of the bank’s efforts to finance infrastructure and sustainable development in member states while addressing the United Nations’ Sustainable Development Goals.

    Initiated by Brazil, Russia, India, China and South Africa in 2014 with the purpose of mobilizing resources for infrastructure and sustainable development projects in emerging markets and developing countries, the NDB formally began operations in July 2015, with its headquarters in Shanghai.

    In 2021, the NDB began expanding its membership and admitted Bangladesh, Egypt, the United Arab Emirates and Uruguay as new member countries.

    “The partnership within the NDB does not sit on the development goals of respective members but rather represents the vision of member countries and better connects them,” she said, adding that the NDB welcomes other countries.

    A model for the future

    According to Rousseff, China’s development trajectory can serve as a good reference for the Global South. The nation’s experiences show that economic, infrastructure and technological development can overcome barriers, sanctions and obstacles, she said.

    Applauding China’s achievements in the fields of socioeconomic and cultural development over the past 75 years, Rousseff said that it is now taking the lead in innovation, helping to advance globalization and reform. The country’s stress on development of new quality productive forces has shown its dedication to scientific and technological development.

    “I feel like that there is no one single moment that I can have a full picture of China, as it is always developing, taking on a new look. The ever ongoing reform and opening-up has been refreshing China’s image,” she said.

    The stronger ties between China and Brazil are another good example, showing that partnership among the Global South countries can help facilitate economic growth and improve people’s well-being, she said.

    Under the Belt and Road Initiative, China and Brazil have strengthened their cooperation in the areas of trade and technology. At the same time, Brazil has served as China’s largest food supplier over the past few years, playing an important role in China’s food security, said Rousseff.

    Meanwhile, Chinese companies’ presence in Brazil is of great importance, facilitating Brazil’s reindustrialization, she said.

    As Rousseff further explained, there are several highlights in China’s investments in Brazil. These include the China National Offshore Oil Corporation’s concession contracts with Brazil’s leading oil and gas company Petrobras for oil exploration in the Pelotas Basin in southern Brazil.

    Also, the less-developed areas in Brazil have benefited from China’s investment in power and overall energy supply, and high-voltage direct transmission lines built by China have helped address Brazil’s energy shortage, she said.

    Since 2009, China has been Brazil’s largest trading partner and a major source of investment, while Brazil has been China’s largest trading partner in Latin America. Trade volume between China and Brazil reached $181.53 billion in 2023.

    MIL OSI China News

  • MIL-OSI China: Leap in Sino-African ties foreseen

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

    The current global economic slowdown and shocks to industrial and supply chains have presented China and Africa with a crucial opportunity to scale up mutual cooperation and move it to a higher level, officials and experts said.

    A shift in China-Africa investment cooperation toward higher-end industries, digitalization, and green development is a vital step in facilitating the inclusive growth of both sides, they said.

    They made the remarks at the Symposium on High-Quality Development of China-Africa Investment Cooperation on Monday, which was jointly hosted by the China-Africa Development Fund and the Chinese Academy of International Trade and Economic Development in Beijing.

    The complementary economic and industrial development profiles of China and Africa have formed a solid basis for their thriving cooperation, said Jing Ning, deputy director-general at the department of Western Asian and African affairs under the Ministry of Commerce.

    The synergistic pairing of China’s technologies, equipment and management expertise with Africa’s markets and human resources has been a key driving force behind the advancement of the continent’s industrialization, technological innovation, and youth employment, Jing said.

    China’s investments in Africa are not only growing in volume but are also strategically oriented toward ensuring that Africa becomes a global manufacturing hub, said Rahamtalla M. Osman, permanent representative of the African Union to China.

    Africa’s green development potential, renewable energy needs, youth population and emerging consumer markets, coupled with the opportunities presented by the African Continental Free Trade Area, have made it a promising investment destination, Osman said.

    The Chinese government announced plans to facilitate at least 70 billion yuan ($9.8 billion) in investments by Chinese companies in Africa over the next three years during the Summit of the Forum on China-Africa Cooperation in Beijing in September.

    Meanwhile, China and Africa will establish a joint digital technology cooperation center and 20 flagship digital demonstration projects. China is committed to equipping African nations with the latest advancements in clean energy technologies, including solar, wind, and hydropower systems.

    As Chinese enterprises expand their investments in Africa, they are not only pursuing their own interests, but also striving to bring tangible benefits to African countries, said Wang Shaodan, chairman of the China-Africa Development Fund.

    CADF, along with partner enterprises, is actively promoting technology transfers to African countries, transitioning from “Made in China” to “Made in Africa” and enhancing the local industrial development capabilities, Wang said.

    In 2013, Chinese home appliances manufacturer Hisense and the CADF jointly invested $350 million to establish Hisense South Africa Industrial Park, where the company has promoted technology transfer and upskilled local workers.

    This has enabled South Africa to acquire manufacturing capabilities and develop export-ready brands for the European market, Wang added.

    China is also working to facilitate the transfer of agricultural technologies to Africa through a wide range of cooperation modalities, which is crucial for enhancing Africa’s food security, said Yu Zirong, vice-president of the Chinese Academy of International Trade and Economic Development.

    Africa is currently facing the dual dilemma of debt and development, and Chinese financial institutions and enterprises are exploring the expansion of new collaborative models to address this challenge, said Yu Yong, deputy director-general of the department of African affairs under the Ministry of Foreign Affairs.

    These new approaches, including public-private partnership, and integrated investment-construction-operation model, are designed to ensure the continuous funding and liquidity needed to support Africa’s industrialization, ultimately leading to a reduction in the continent’s debt burden, Yu said.

    MIL OSI China News

  • MIL-OSI Asia-Pac: Hong Kong Customs seizes suspected counterfeit goods worth about $14.9 million (with photos)

    Source: Hong Kong Government special administrative region

    Hong Kong Customs seizes suspected counterfeit goods worth about $14.9 million (with photos)
    Hong Kong Customs seizes suspected counterfeit goods worth about $14.9 million (with photos)
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         ​Hong Kong Customs from October 9 to 16 seized about 74 700 items of suspected counterfeit goods at the Tuen Mun River Trade Terminal Customs Cargo Examination Compound. The total estimated market value of the seizure was about $14.9 million.           Through risk assessment, Customs inspected four 40-foot containers, declared as carrying footwear and arriving in Hong Kong from the Mainland, in the abovementioned period. After inspection, Customs officers found the batch of suspected counterfeit sports shoes therein.           An initial investigation revealed that the batch of suspected counterfeit goods would be transshipped to overseas regions.           An investigation is ongoing.           Customs will continue to combat cross-boundary counterfeit goods activities by interception at source, with stringent enforcement action based on risk assessment and intelligence analysis.           Under the Trade Descriptions Ordinance, any person who imports or exports any goods to which a forged trademark is applied commits an offence. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for five years.           Members of the public may report any suspected counterfeiting activities to Customs’ 24-hour hotline 182 80 80 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

     
    Ends/Wednesday, October 23, 2024Issued at HKT 11:00

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    MIL OSI Asia Pacific News