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Category: Trade

  • MIL-OSI Economics: BaFin warns consumers about the website coinaimex.net

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the website coinaimex.net. According to information available to BaFin, Coinaimex Ltd, London, United Kingdom, offers financial and investment services there without authorization.

    BaFin has warned consumers about several almost identical websites that have come to its attention recently. The homepage of each website begins with the following sentence: “Step Into the Trading Arena With Confidence & [name of website]”.

    Anyone 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.

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) 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 –

    September 29, 2024

  • MIL-OSI Africa: Africa Finance Corporation (AFC) Signs Concession Agreements with Governments of Angola and Zambia to advance Zambia Lobito Rail Project

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

    NEW YORK, United States of America, September 25, 2024/APO Group/ —

    In a significant milestone for the Zambia Lobito Rail Project, Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has signed concession agreements with the governments of Angola and Zambia for the financing, construction, ownership and operation of the transformational railway project. The agreements, which were signed yesterday in a ceremonial signing hosted by U.S. Secretary of State Antony J. Blinken and the Biden Administration’s G-7 Partnership for Global Infrastructure and Investment (PGI) on the sidelines of the 79th session of the UN General Assembly (UNGA 79), paves the way for the Corporation to spearhead and complete the development of the railway.

    Last year, AFC was appointed lead developer on the Zambia Lobito rail project in collaboration with the United States Government, the European Union, the African Development Bank and the governments of Angola, the Democratic Republic of Congo and Zambia. The project involves the construction of approximately 800km greenfield rail line connecting the Benguela rail line in Luacano, Angola, to the existing Zambia Railways Line in Chingola, Zambia. Once completed, the trade corridor will facilitate the efficient movement of goods and promote investments in agriculture, health, digital infrastructure, mining, and electricity access along the corridor.

    Concurrent to signing the concession agreements, AFC also signed an agreement to receive US$ 2 million grant funding from the United States Trade and Development Agency (USTDA) (https://apo-opa.co/3zINnnM), towards completion of the environmental and social studies for the project. The grant, which marks the first time the Corporation will tap into USTDA funding, will facilitate comprehensive Environmental and Social Impact Assessments (ESIA) to ensure that the Zambia Lobito Rail Project aligns with international best practices and environmental standards.

    AFC will play the pivotal role of lead developer on the rail project which not only offers an efficient evacuation route for minerals and metals from the region but helps establish a trade corridor across Africa from the Port of Lobito on the coast of the Atlantic Ocean to the Port of Dar es Salam in Tanzania on the coast of the Indian Ocean, facilitating global and intra-African trade. The railway is expected to create economic benefit of approximately $3 billion across both countries, reduce emissions by approximately 300,000 tons per year and add over 1,250 jobs across construction and operations.

    The Honourable Minister of Transport for Angola Mr Ricardo Viegas d’Abreu noted, “We are pleased to partner with Africa Finance Corporation on this transformative project which will deepen our nation’s role as a regional logistics hub, boosting trade not only with Zambia but with the rest of the world.”

    Mr Frank Tayali MP, Honourable Minister of Transport for Zambia added, “The Zambia Lobito Rail Project is an important milestone in our efforts to modernise infrastructure, enhance the competitiveness of our economy, and improve the livelihoods of our people. We look forward to partnering with Africa Finance Corporation to deliver on this groundbreaking project.”

    “The Zambia Lobito Rail Project represents a game-changing development for the region, unlocking tremendous potential for trade, industrialisation, and socio-economic growth.,” said Samaila Zubairu, President & CEO of Africa Finance Corporation. “AFC is proud to partner with the governments of Angola and Zambia to deliver worldclass rail infrastructure, which will accelerate industrial development in Africa, promote regional integration and provide a vital export route for copper and other critical minerals for the global energy transition,” he added.

    The corridor will provide an alternative strategic route to international export markets for Zambia and DRC. It will offer the shortest route for export and imports, linking key mining regions, agricultural clusters and businesses in Zambia and DRC to the Port of Lobito. It will significantly facilitate the movement of cargo from the Copperbelt and Northwestern Provinces, through Angola to the Western markets.

    MIL OSI Africa –

    September 29, 2024

  • MIL-OSI Asia-Pac: Hong Kong Customs steps up enforcement action against counterfeit goods activities with approach of National Day Golden Week of Mainland (with photo)

    Source: Hong Kong Government special administrative region

         â€‹Hong Kong Customs mounted a special enforcement operation in Mong Kok between September 20 and today (September 25) to combat the sale of counterfeit goods and seized about 8 500 items of suspected counterfeit goods with an estimated market value of about $3.6 million.

         Customs earlier conducted patrols and discovered some fixed-pitch hawker stalls selling suspected counterfeit goods in Mong Kok. After investigations, Customs officers took enforcement action during the abovementioned period and raided 25 fixed-pitch hawker stalls on Tung Choi Street and a nearby upstairs counterfeit goods storage. A batch of suspected counterfeit goods, including handbags, wallets and headphones, was seized.

         During the operation, Customs arrested two women, aged 35 and 41. An investigation is ongoing.

         With the National Day Golden Week of the Mainland approaching, Customs will continue to step up inspection and enforcement to vigorously combat different kinds of counterfeit goods activities in order to safeguard consumer rights at full strength.

         Customs appeals to consumers to purchase goods at reputable shops and to check with the trademark owners or their authorised agents if the authenticity of a product is in doubt. Customs also reminds traders not to sell counterfeit goods and to be cautious and prudent in merchandising since selling counterfeit goods is a serious crime and offenders are liable to criminal sanctions.

         Under the Trade Descriptions Ordinance, any person who sells or possesses for sale any goods with a forged trademark 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 2545 6182 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).   

    MIL OSI Asia Pacific News –

    September 29, 2024

  • MIL-OSI: NEWTON GOLF Introduces New Gravity Putter Line, Building on Momentum from Recent Rebranding

    Source: GlobeNewswire (MIL-OSI)

    Gravity, the putter division of parent company NEWTON GOLF, introduces five putters in its new premium series

    CAMARILLO, CA, Sept. 25, 2024 (GLOBE NEWSWIRE) — NEWTON GOLF, (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, builds on its recent rebranding with the launch of three new putter models and two redesigned classics in its newly formed Gravity Premium Series (“Gravity”) of putters.

    Formerly known as Sacks Parente Golf putters, the putter line has been redesigned and rebranded as Gravity under the NEWTON GOLF umbrella, ushering in a new era with a fresh, modern aesthetic. Featuring striking red and black colors and a premium ceramic coating finish previously reserved for Tour-level putters, these models embody NEWTON GOLF’s core design principles, including the brand’s signature patented Ultra’Low Balance Point (ULBP) and Center of Gravity (CG) technology.

    The new lineup includes three new models: The Classic, the DEUCE, and the DUKE. Additionally, the DRAC and the PRISM are two models from the previous Sacks Parente brand that have been redesigned and have the new Gravity logo and colorways. The Company is also introducing a new putter shaft, Newton Tempo, which is an improved design to provide better feel and balance with the newly designed heads.

    At the core of NEWTON GOLF’s Gravity putter design is the belief that gravity truly matters.

    Technology and Innovation: Gravity and Tempo

    All of the Gravity Premium Series putters are equipped with advanced features, such as Ultra Low Balance Point and optimized Center of Gravity. This ensures that golfers experience improved tempo by placing the weight of the putter predominantly in the head, with very light grips and carbon fiber shafts.The center of gravity is designed to be as low and close to the ball as possible. This promotes a smooth, repeatable tempo, minimizes side spin, and ensures the ball stays on the intended line for a truer, consisent roll.

    PGA Tour Champions player Ken Duke has already adopted a Gravity putter in his bag, saying, “The putters are beautiful and have amazing feel and sound. I fell in love with them instantly. Finally, the consumers will get to experience a true Tour-only quality product without paying thousands of dollars.”

    Forgiveness and Sweet Spot

    Each Gravity Premium Series putter is engineered for maximum Moment of Inertia (MOI). This increases the stability of the face, effectively widening the sweet spot to ensure off-center strikes are met with forgiveness and consistency.

    The Gravity Premium Series Putters:

    • The Classic – The Classic, Gravity’s new traditional anser-style putter in the Premium Series, is optimized for modern stroke types with a shallower arc. It features a newly designed hosel for enhanced performance and feel. The Classic is made with 1018 carbon steel material for the best ball feel with Tour Only quality ceramic coating finish. MSRP: $450
    • The DEUCE – The new DEUCE is a double-wide anser putter that is easy to aim with a blade-like look. Available in 1018 carbon steel body, the DEUCE is designed to fit all stroke types with two hosel locations. MSRP: $450
    • The DUKE – The new DUKE putter takes its inspiration from PGA TOUR Champions player Ken Duke. Made with a 1018 carbon steel body with tungsten weighting, the DUKE is a modern interpretation of a classic-style putter that has a shorter blade length with a half mallet back: MSRP: $450
    • The PRISM – Gravity’s redesigned PRISM mallet putter naturally improves the putting stroke and tightens the dispersion of putts. Engineered to deliver the right MOI and unmatched stability, the PRISM optimizes the stroke and provides the best roll in golf. It is made of 6061 aluminum and 50 grams of tungsten. The mallet head has been reshaped to improve stability and move CG more forward. MSRP: $450
    • The DRAC – The redesigned DRAC is the modernization of a fang-style putter. It is Gravity’s highest MOI putter that is made of 6061 aluminum and 100 grams of tungsten. It has been redesigned with the Gravity logo and colorways. MSRP: $450

    “We named the new putter division ‘Gravity’ because it perfectly encapsulates this fundamental design principle that enhances the natural tempo and precision of every putt,” said NEWTON GOLF’s Executive Chairman Greg Campbell. “When the golfer lifts the putter on the backstroke, potential energy is stored, and, by trusting gravity to accelerate the putter head during the stroke, golfers can achieve consistent velocity at impact – which is proportional to the length of the backstroke.”

    All Gravity putters are available for preorder on October 1, 2024 at https://newtongolfco.com.
    Images of the Gravity putters can be found here.

    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 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 –

    September 29, 2024

  • MIL-OSI Russia: Moscow Unveils New Tram Line on Sergey Radonezhsky Street

    Source: Moscow Transport

    The opening of a new tram line on Sergey Radonezhsky Street took place yesterday in the capital, which was a significant step forward in the development of the city’s public transport network. A new route – tram No. 2 – appeared on the line, connecting six districts of Moscow and becoming a convenient alternative for residents of the south-eastern, eastern and central districts of the city.

    Important benefits of opening a new tram line:

    • Faster, More Efficient Travel for Hundreds of Thousands:

    The newly launched Tram No. 2 route spans from 3rd Vladimirskaya Street to Kursky Train Station, offering a smooth and efficient journey in just 30 minutes. Previously, the same trip required approximately 40 minutes with two transfers. The new line is expected to benefit nearly 700,000 residents, providing them with convenient and direct access to key transportation hubs and social amenities.

    • Enhanced Connectivity and Accessibility:

    The tram line seamlessly integrates with the city’s existing transportation infrastructure, providing convenient transfers to 15 different stations, including Kursky Train Station, Moscow Central Diameter lines 2 and 4 (MCD-2, MCD-4), and metro stations Ploshchad Iliicha, Rimskaya, and others. Future plans include integrating the line with the Serp i Molot Moscow City Railway Station.

    • Modern Tram for a Modern City:

    The line is served by seven state-of-the-art Vityaz-Moskva trams, equipped with modern features including a low floor for easy accessibility, climate control, and charging stations. These trams operate on a 10-minute interval, ensuring frequent and efficient service.

    • Improved Urban Design:

    The introduction of the new tram line has also revitalized Sergey Radonezhsky Street. The even-numbered side now features a dedicated pedestrian walkway, providing a comfortable route for residents from their homes to the metro station and public transport stops. The roadway and sidewalks have been modernized, and the street is adorned with new lighting, navigation signs, and elevated tram stops.

    • Quiet and Efficient Travel:

    The construction of the new tram line incorporates innovative technology, featuring seamless track laying, rubber seals, and specialized vibration-damping mats. These design elements ensure quiet and smooth operation, enhancing the passenger experience. The 3.9-kilometer track is also separated from the roadway, further promoting safety and efficiency.

    • Investing in the Future of Public Transportation:

    This new tram line represents a significant investment in Moscow’s public transportation infrastructure and demonstrates the city’s commitment to providing efficient and accessible transport options for its residents. As the city celebrates the 125th anniversary of the Moscow tram, this new addition solidifies the tram’s role as an integral part of the city’s transport system

    The opening of the new tram line and the launch of Tram No. 2 provide residents with new, convenient routes for their daily commutes. The new line connects nine different railway lines, including metro, MCD, and MCC, and integrates over 200 social amenities, including schools, hospitals, and shopping centers, further enhancing accessibility for residents,- said Maksim Liksutov, Moscow’s Deputy Mayor for Transport and Industry.

    MIL OSI Russia News –

    September 29, 2024

  • MIL-OSI: Data Storage Corporation Secures Expanded Contract Servicing a Billion Dollar Insurance Company

    Source: GlobeNewswire (MIL-OSI)

    MELVILLE, N.Y., Sept. 25, 2024 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (“DSC” and the “Company”), a provider of diverse business continuity solutions for disaster-recovery, cloud infrastructure, cyber-security, and IT automation, today announced that its subsidiary, CloudFirst, has secured an expanded agreement through its infrastructure partner, servicing a billion-dollar insurance company.

    The client is currently utilizing the Company’s security services for their IBMi system and has now opted to enhance their disaster recovery capabilities by moving to a fully managed hosted target system. Through this agreement, Data Storage Corporation will provide a fully managed hosting solution that includes cloud backup, backup management, and replication management ensuring seamless and reliable data continuity.

    Hal Schwartz, President of CloudFirst, stated, “Having served as a reliable and trusted partner for this client’s sensitive data, we’re honored to now expand the scope of our services within this large organization.  This hosted solution enables the client to avoid the cost of acquiring new hardware while benefiting from our fully managed services, which ensure the client’s systems are continuously monitored, backed up, and supported for maximum uptime and security. This agreement exemplifies our ongoing commitment to providing reliable and scalable IT solutions that meet the unique needs of our clients.”

    Chuck Piluso, CEO of Data Storage Corporation, commented, “This new contract demonstrates how closely we work with our infrastructure partners to create seamless solutions for clients. Our partners, that specialize in Intel and Windows platforms, turn to us for our expertise and to utilize our IBM Power Cloud. By collaborating, we’re able to deliver a unique, fully managed cloud solution that benefits all parties.”

    About Data Storage Corporation

    Data Storage Corporation (Nasdaq: DTST) is a leading provider of fully managed cloud hosting, disaster recovery, cybersecurity, IT automation, and voice & data solutions. With strategic technical investments in multiple regions, DTST serves a diverse clientele, including Fortune 500 companies, in sectors such as government, education, and healthcare. Focused on the fast-growing, multi-billion-dollar cloud hosting and business continuity market. DTST is recognized as a stable and emerging growth leader in cloud infrastructure, support and the migration of data to the cloud. Our regional data centers across North America enable us to deliver sustainable services through recurring subscription agreements.

    For more information, please visit www.dtst.com or follow us on Twitter @DataStorageCorp.

    Safe Harbor Provision
    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. The forward looking statements in this press release include statements such as continuing to grow revenue and increase profitability as the Company executes on its strategic initiatives, the consolidation of the CloudFirst and Flagship subsidiaries positioning the Company to optimize operations, leverage its technical teams, realize greater efficiencies, and improve internal resource allocation, while capitalizing on extensive cross-selling and upselling opportunities among its customer networks, the two meaningful announced contracts being just the first of many such announcements that will come from the efforts of the combined organizations, having developed a robust business strategy that we will drive growth and secure sustainable profitability while maximizing long term value for shareholders and providing meaningful updates to shareholders as developments unfold. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include the Company’s ability to execute and advance its growth strategies. These risks should not be construed as exhaustive and should be read together with the other cautionary statements included in the Company’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or otherwise.

    Contact:
    Crescendo Communications, LLC
    212-671-1020
    DTST@crescendo-ir.com

    The MIL Network –

    September 29, 2024

  • MIL-OSI China: Mainland slams Taiwan’s ‘economic coercion’ claim as nothing but calling white black

    Source: China State Council Information Office 2

    The Taiwan Affairs Office of the State Council has rejected Taiwan authorities’ accusation that the mainland is engaging in “economic coercion,” following the mainland’s announcement to cancel the zero-tariff policy on 34 agricultural products from Taiwan.
    Such claims are a complete distortion of the facts, said Zhu Fenglian, spokesperson for the office, at a press conference on Wednesday.
    Zhu said that the mainland began introducing the zero-tariff policies in 2005 to expand the sales of Taiwan farm produce on the mainland.
    The measures applied to 15 types of fruits, 11 vegetables, and eight aquatic products, bringing tangible benefits to compatriots in Taiwan, Zhu added.
    She expressed regret that in recent years, Taiwan’s Democratic Progressive Party (DPP) authorities have continued to promote “Taiwan independence” provocations, escalate tensions and undermine cross-Strait cooperation.
    Zhu pointed out that the DPP authorities have imposed unilateral restrictions on over 1,000 mainland agricultural products, which she said harm the interests of compatriots on both sides of the Taiwan Strait.
    In view of this, the mainland decided to stop implementing the policies of exempting import tariffs on 34 agricultural products originating from Taiwan effective from Sept. 25, 2024, she said.
    In response to Taiwan authorities’ call for consultations under the World Trade Organization (WTO) frameworks, Zhu dismissed the suggestion as an attempt by the DPP authorities to “internationalize” the Taiwan question and reiterated that the foundation for cross-Strait consultations is the 1992 Consensus, not WTO frameworks and regulations.
    Zhu urged the DPP authorities to take practical steps to stop undermining cross-Strait relations and harming the welfare of compatriots on both sides of the Strait.

    MIL OSI China News –

    September 29, 2024

  • MIL-OSI Russia: A new tram line has opened in Moscow on Sergius of Radonezh Street

    MIL OSI Translation. Region: Russian Federation –

    Source: Moscow Transport

    Yesterday, the capital saw the opening of a new tram line on Sergius of Radonezh Street, which was a significant step forward in the development of the city’s public transport network. A new route appeared on the line – tram No. 2, which connected six districts of Moscow and became a convenient alternative for residents of the south-eastern, eastern and central districts of the city.

    Moscow Transport.

    Important advantages of opening the new tram line:

    Faster, more efficient travel for hundreds of thousands of people:

    The newly launched tram route #2 runs from 3rd Vladimirskaya Street to Kursky Station, providing a smooth and efficient journey in just 30 minutes. Previously, the same journey took around 40 minutes with two transfers. The new line is expected to benefit around 700,000 residents, providing them with convenient and direct access to key transport hubs and social infrastructure.

    Improved connectivity and accessibility:

    The tram line fits seamlessly into the city’s existing transport infrastructure, providing convenient transfers to 15 different stations, including Kursky Station, lines 2 and 4 of the Moscow Central Diameter (MCD-2, MCD-4), the metro stations “Ploshchad Ilyicha”, “Rimskaya” and others. Future plans include integrating the line with the Moscow City Railway Station “Serp i Molot”.

    A modern tram for a modern city:

    The line is served by seven modern Vityaz-Moskva trams, equipped with modern features including low floors for passenger comfort, climate control and charging stations. Trams run at 10-minute intervals, providing frequent and efficient service.

    Improving urban design:

    The introduction of the new tram line also enlivened Sergius of Radonezh Street. A dedicated pedestrian path appeared on the even side, providing residents with a convenient route from their home to the metro station and public transport stops. The roadway and sidewalks have been modernized, the street is decorated with new lighting, navigation signs and overground tram stops.

    Quiet and efficient travel:

    The new tram line uses innovative technologies: seamless rail laying, rubber seals and special vibration-damping mats. These design elements ensure a quiet and smooth ride, improving the passenger experience. In addition, the 3.9-kilometer track is separated from the roadway, which further improves safety and efficiency.

    Investing in the future of public transport:

    The new tram line represents a significant investment in Moscow’s public transport infrastructure and demonstrates the city’s commitment to providing residents with efficient and affordable transportation options. As the city celebrates the 125th anniversary of the Moscow tram, this new addition cements the tram’s role as an integral part of the city’s transportation system.

    With the opening of the new tram line and the launch of tram No. 2, residents now have new convenient routes for daily travel. The new line connects nine different railway lines, including the metro, MCD and MCC, and unites more than 200 social infrastructure facilities, including schools, hospitals and shopping centers, which further increases accessibility for residents, said Maxim Liksutov, Deputy Mayor of Moscow for Transport and Industry.

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

    MIL OSI Russia News –

    September 29, 2024

  • MIL-OSI: Texas Capital Launches Government Money Market Exchange Traded Fund

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Sept. 25, 2024 (GLOBE NEWSWIRE) — Texas Capital Bank Private Wealth Advisors, a subsidiary of Texas Capital Bank, and the Texas Capital Funds Trust today announced the launch of the Texas Capital Government Money Market ETF (NYSE: MMKT) (the “MMKT ETF” or “Fund”). This innovative and first-of-its-kind ETF will hold highly liquid, short-term U.S. government debt instruments and cash equivalents, providing an exchange-traded investment option for investors focused on managing credit risk and preserving capital.

    The MMKT ETF is the latest fund launched by Texas Capital ETF & Funds Management, whose managed ETFs include the flagship Texas Capital Texas Equity Index ETF (NYSE Arca: TXS) that helps investors gain investment exposure to the diversity and growth of the eighth largest economy in the world, Texas1. Complementing Texas Capital’s other funds, the MMKT ETF is designed to provide investors with a government money market fund in the form of an ETF, combining the intraday liquidity and flexibility of an ETF with the risk and return characteristics of a money market fund.

    “With the substantial changes in the interest rate environment over the last few years, the Texas Capital Government Money Market ETF offers an exciting alternative for investors,” said Daniel S. Hoverman, Head of Corporate & Investment Banking at Texas Capital. “As the first ETF committed to following Rule 2a-7, the provision of the Investment Company Act of 1940 that governs money market funds, Texas Capital believes the combination of the tradability of an ETF and the structure of a money market fund will prove an important investment alternative for investors looking to manage liquidity, volatility and credit risks in their securities portfolio.”

    The Texas Capital Government Money Market ETF seeks to provide as high a level of current interest income as is consistent with maintaining liquidity and stability of principal while following Rule 2a-7.

    “As the premier full-service financial services firm headquartered in the state of Texas, the launch of the MMKT ETF continues our commitment to serving our clients’ liquidity and investment needs,” added Hoverman. “Innovation is an integral part of the Texas Capital experience, ranging from Initio, our commercial banking platform that enables new account onboarding within a single business day, to today’s announcement about the revolutionary combination of ETF flexibility and money market sensibility. We look forward to welcoming investors in MMKT to our suite of funds and to Texas Capital.”

    The Texas Capital Funds Trust is a Delaware statutory trust formed in 2023 and registered as an open-end management investment company under the Investment Company Act of 1940. The Trust has retained Texas Capital Bank Wealth Management Services, Inc., doing business as Texas Capital Bank Private Wealth Advisors, as the adviser to the Fund. Edward Rosenberg, head of ETF & Funds Management for Texas Capital serves as the president of the Texas Capital Funds Trust. The Fund’s portfolio is managed by the chief investment officer of Texas Capital Bank Private Wealth Advisors, J. Steven Orr, who brings more than 30 years of portfolio management experience. The Board of Trustees for the Texas Capital Funds Trust includes Hayman Capital Management Founder and Chief Investment Officer J. Kyle Bass, Texas Capital’s Head of Corporate & Investment Banking Daniel S. Hoverman, Avery Capital Co-founder and Chief Executive Officer Avery Johnson, Texas Capital’s Head of Investor Relations & Corporate Development Jocelyn Kukulka and PIXIU Founder and Chief Executive Officer Eddie Margain.

    Additional details on the Fund can be found here.

    About Texas Capital
    Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank (“TCB”). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities. All services are subject to applicable laws, regulations, and service terms. Deposit and lending products and services are offered by TCB. For deposit products, member FDIC. For more information, please visit www.texascapital.com.

    Trading in securities and financial instruments, strategic advisory, and other investment banking activities are performed by TCBI Securities, Inc., doing business as Texas Capital Securities. TCBI Securities, Inc. is a member of FINRA and SIPC and has registered with the SEC and other state securities regulators as a broker dealer. TCBI Securities, Inc. is a subsidiary of TCB. All investing involves risks, including the loss of principal. Past performance does not guarantee future results. Securities and other investment products offered by TCBI Securities, Inc. are not FDIC insured, may lose value and are not bank guaranteed.

    Disclosures
    Investors should carefully consider the investment objectives, risks and charges of the Fund before investing. The prospectus contains this information and other information about the Fund, and it should be read carefully before investing. Investors can obtain a copy of the prospectus by calling 844.TCB.ETFS (844.822.3837). 

    Credit Risk. Issuers of money market instruments or financial institutions that have entered into repurchase agreements with the Fund may fail to make payments when due or complete transactions or they may become less willing or less able to do so.

    Interest Rate Risk. The value of the Fund’s investments generally will fall when interest rates rise, and its yield will tend to lag behind prevailing rates. The Fund may face a heightened level of interest rate risk due to certain changes in general economic conditions, inflation and monetary policy, such as certain types of interest rate changes by the Federal Reserve.
    U.S. Government Securities Risk. There are different types of U.S. government securities with different levels of credit risk, including the risk of default, depending on the nature of the particular government support for that security. For example, a U.S. government-sponsored entity, such as Federal National Mortgage Association (“Fannie Mae”) or Federal Home Loan Mortgage Corporation (“Freddie Mac”), although chartered or sponsored by an Act of Congress, may issue securities that are neither insured nor guaranteed by the U.S. Treasury and are therefore riskier than those that are.
    Repurchase Agreements Risk. Repurchase agreements carry certain risks not associated with direct investments in securities, including a possible decline in the market value of the underlying obligations.
    Portfolio Liquidity Risk. Although the Fund invests in a diversified portfolio of high-quality instruments, the Fund’s investments may become less liquid as a result of market developments or adverse investor perception. In stressed market conditions, the market for the Fund’s shares may become less liquid in response to deteriorating liquidity in the markets for the Fund’s underlying portfolio holdings.
    Management Risk. The risk that the investment strategies, techniques and risk analyses employed by the Adviser may not produce the desired results.
    Investment and Market Risk. As with all investments, an investment in the Fund is subject to investment risk. Investors in the Fund could lose money, including the possible loss of the entire principal amount of an investment, over short or prolonged periods of time.  Markets can decline in value sharply and unpredictably which may affect the Fund’s net asset value (“NAV”) per share. The increasing interconnectivity between global economies and financial markets increases the likelihood that events or conditions in one region or financial market may adversely impact issuers in a different country, region, or financial market.
    ETF Risks. The Fund is an ETF, and because of the ETF’s structure, it is exposed to the following risks:

    Authorized Participants, Market Makers, and Liquidity Providers Concentration Risk. The Fund has a limited number of financial institutions that may act as Authorized Participants (“APs”). In addition, there may be a limited number of market makers and/or liquidity providers in the marketplace. To the extent either of the following events occur, Shares may trade at a material discount to NAV and possibly face trading halts or delisting: (i) APs exit the business or otherwise become unable to process creation and/or redemption orders and no other APs step forward to perform these services; or (ii) market makers and/or liquidity providers exit the business or significantly reduce their business activities and no other entities step forward to perform their functions.
    Costs of Buying or Selling Shares. Due to the costs of buying or selling Shares, including brokerage commissions imposed by brokers and bid/ask spreads, frequent trading of Shares may significantly reduce investment results and an investment in Shares may not be advisable for investors who anticipate regularly making small investments.
    Large Shareholder Risk. From time to time, an AP, a third-party investor, an affiliate of the Adviser, or a fund may invest in the Fund and hold its investment for a specific time period to allow the Fund to achieve size or scale. There can be no assurance that any such entity will not redeem its investment or that the size of the Fund will be maintained at such levels, which could negatively impact the Fund.
    Premium-Discount Risk. The Shares may trade above or below their NAV. The market prices of Shares will generally fluctuate in accordance with changes in NAV as well as the relative supply of, and demand for, Shares on the Exchange or other securities exchanges. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for Shares (including through a trading halt), among other factors, may result in the Shares trading significantly above (at a premium) or below (at a discount) to NAV.
    Trading Risk. Although Shares are listed for trading on the Exchange and may be traded on U.S. exchanges other than the Exchange, there can be no assurance that Shares will trade with any volume, or at all, on any stock exchange. In stressed market conditions, the liquidity of Shares may begin to mirror the liquidity of the Fund’s underlying portfolio holdings, which can be significantly less liquid than Shares.
    Trading Halt Risk. Sharp price declines in securities owned by the Fund may trigger trading halts, which may result in the Fund’s shares trading in the market at an increasingly large discount to NAV during part (or all) of a trading day or cause the Fund itself to halt trading. In such market conditions, market, or stop-loss orders to sell the ETF shares may be executed at market prices that are significantly below NAV or investors might not even be able to transact in Shares if the Fund halts trading.

    New Adviser Risk. The Adviser has only served as an adviser to a registered fund for less than one year. As a result, there is no long-term track record against which an investor may judge the Adviser and it is possible the Adviser may not achieve the Fund’s intended investment objective.
    New Fund Risk. The Fund is new and does not have shares outstanding as of the date of this Prospectus. As a result, prospective investors have no track record or history on which to base their investment decisions. In addition, there can be no assurance that the Fund will grow to or maintain an economically viable size. If the Fund does not grow large once it commences trading, it will be at greater risk than larger funds of wider bid-ask spreads for its shares, trading at a greater premium or discount to NAV, liquidation and/or a stop to trading. Any liquidation of the Fund could cause the Fund to incur elevated transaction costs for the Fund and negative tax consequences for its shareholders.

    Shares are not individually redeemable and are issued and redeemed at their net asset value only in large, specified blocks of shares called creation units. Shares otherwise can be bought and sold only through exchange trading at market price (not NAV). Shares may trade at a premium or discount to their net asset value in the secondary market. Brokerage commissions will reduce returns.

    Texas Capital Bank Wealth Management Services, Inc. d/b/a Texas Capital Bank Private Wealth Advisors (“PWA”), a wholly owned subsidiary of Texas Capital Bank and a Registered Investment Advisor with the U.S. Securities and Exchange Commission (“SEC”), serves as investment adviser to the Texas Capital Government Money Market ETF and Texas Capital Texas Equity Index ETF and is paid a fee for its services. Shares of the Texas Capital Government Money Market ETF and Texas Capital Texas Equity Index ETF are not deposits or obligations of, or guaranteed or endorsed by, Texas Capital Bank or its affiliates. The Texas Capital Government Money Market ETF and Texas Capital Texas Equity Index ETF are not insured by the FDIC or any other government agency. The Texas Capital Government Money Market ETF and Texas Capital Texas Equity Index ETF are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC, which is not affiliated with Texas Capital Bank Private Wealth Advisors. 

    INVESTMENTS: NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

    1 Source: Texas Economic Development Corporation

    The MIL Network –

    September 29, 2024

  • MIL-OSI: ServiceTrade Releases a New Modular Dashboard Giving Commercial Fire and Mechanical Contractors a “Command Center” to Maximize Productivity and Profit 

    Source: GlobeNewswire (MIL-OSI)

    DURHAM, N.C., Sept. 25, 2024 (GLOBE NEWSWIRE) — ServiceTrade, Inc., the software platform for commercial mechanical and fire contractors, announces the release of ServiceTrade Fall ‘24, the latest innovations to its industry-leading field service management software. The newest release features capabilities that can maximize tech productivity and improve profit for every job, every customer, every time. Enhanced AI-driven features provide more useful information that helps companies increase technician and customer satisfaction.

    The Fall ‘24 release features a new customizable dashboard that can be personalized to provide relevant data for each operational role. Owners, dispatchers, operations executives, and service managers can create personalized “command centers” that deliver the necessary real-time information they need. Drag and drop widgets make it easy for stakeholders to create a view of the most appropriate information for their job function. In addition, enhanced tasking, scheduling functionality, and dispatch features guide schedules that optimize time and tech profitability by prioritizing the most important customers. The Fall ‘24 release is designed to help companies optimize time on-site, meet customer expectations, and win and keep the most valuable customers. 

    Brian Smithwick, ServiceTrade CTO and co-founder, commented: “For over a decade, we’ve been singularly focused on solutions that help contractors prioritize the most profitable customers, build maximum pipeline, and improve productivity and profits. The Fall ‘24 release brings critical innovations to market and will allow commercial contractors to scale their businesses and deliver exceptional service, build customer loyalty, and drive revenue. With the Fall ‘24 release, we continue to raise the bar with software solutions to support the unique challenges commercial service contractors face.”

    Customized, Role-Based Views Through Drag-and-Drop Widgets
    ServiceTrade has completely transformed its dashboard, enabling a customizable, real-time view of operational data that shows relevant information for specific jobs and business functions. Unlike traditional static dashboards, ServiceTrade’s dashboard is fully customizable, allowing users to select from an extensive library of widgets that integrate real-time operational data across work orders, customer communications, financial performance, and more. By providing users with personalized views that contain insights about the details that matter most to their job function, the dashboard helps users easily find the information they need, increasing productivity and optimizing business performance. 

    Streamlined, Powerful Scheduling and Dispatching
    The latest version of the ServiceTrade dispatch board delivers scheduling and dispatching game changers to simplify the way dispatchers assign and schedule technicians and jobs. These enhancements provide everything business owners need – and nothing they don’t – to make smarter scheduling decisions, reduce travel time, and provide technicians with more information so they can work efficiently and productively. With a refurbished user interface and AI infusions to streamline all workflows, the dispatch and scheduling experience empowers commercial contracting businesses to prioritize the most profitable customers and jobs, optimize technician routes, schedule high-value work, and plan long-term to ensure all technicians are fully utilized. 

    Automated Tasking Ensures Efficiency and Maximum Profit at Each Appointment 
    Streamlining the management of recurring maintenance tasks provides technicians with clear task checklists for each job and piece of equipment, and helps contractors meet service agreements. New task manager features simplify the planning and execution of maintenance activities, allow techs to meet productivity goals, and deliver quality service accurately to meet customer contract commitments and regulations at every service appointment.

    AI-Driven Commenting and Job Summaries 
    New AI-driven features, including SmartTranscribe, SmartComment, and SmartSummary, make it easier for technicians to provide detailed notes and for the office to more efficiently deliver complete customer communication. ServiceTrade’s industry-leading AI infusions help manage the full life-cycle of commercial and industrial building equipment from installation and startup to inspection and maintenance to repair and replace. Unlike other solutions focused on financial data, residential services, or those with limited data in the commercial sector, ServiceTrade Smart AI is powered by over 18 million commercial work orders servicing over 13 million building assets with over 6 million identified equipment issues. 

    To learn more about ServiceTrade:

    About ServiceTrade:
    ServiceTrade, Inc. is a software platform for commercial mechanical and fire and life safety contractors. During a chronic skilled labor shortage, ServiceTrade helps commercial contractors increase profit by improving service and project operations, increasing technician productivity, selling more service agreements, and growing customer loyalty. Located in Durham, North Carolina, ServiceTrade was founded in 2012 to automate and streamline the commercial mechanical and fire protection industry and has grown to have more than 1,300 customers. More than 10% of the commercial or industrial buildings in the United States are serviced by contractors using ServiceTrade. Learn more at www.servicetrade.com.

    Contact:
    Media@KTCMarketingandpr.com

    The MIL Network –

    September 29, 2024

  • MIL-OSI USA: Welch, Braun, Klobuchar Support USPTO Rule to Help Lower Drug Prices, Rein in Big Pharma

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)

    Proposed rule is in alignment with the Senators’ bipartisan bill to hold Big Pharma accountable for abusing the patent system
    WASHINGTON, D.C. – Senators Peter Welch (D-Vt.), Mike Braun (R-Ind.),and Amy Klobuchar (D-Minn.) sent a letter to Kathi Videl, Director of the U.S. Patent and Trademark Office (USPTO), expressing strong support for a proposed rule released by USPTO that would help restore competition to the prescription drug market and lower prescription drug prices for patients. The Senators urged USPTO to quickly finalize the rule and called on Congress to pass their bipartisan, bicameral bill to streamline drug patent litigation and make it easier for generic and biosimilar companies to enter the market. 
    “Restoring competition to the prescription drug market would provide American patients with much needed and overdue relief on the cost of prescription drugs—and USPTO’s Notice of Proposed Rulemaking is an important step towards this goal. The rule would require patent applicants filing terminal disclaimers to agree that their patent will be unenforceable if any claim in another patent tied to the original patent by a terminal disclaimer has been held unpatentable or invalid by a federal court or the USPTO,” wrote the Senators. “Challenging patents is extremely costly, and this rule would reduce incentives for filing numerous duplicative patents that are tied to each other by terminal disclaimers, which would reduce gamesmanship by patent holders and allow for more innovation in the market. USPTO should finalize this rule without delay.” 
    “To further bolster USPTO’s efforts, Congress should also pass S. 3583, a bipartisan, bicameral bill that complements the proposed rule. S. 3583 would limit the number of patents with a common terminal disclaimer that a pharmaceutical company can assert in infringement litigation to one,” continued the Senators. “While our bill attempts to address patent thickets that have already been created, the proposed rule is equally as important, as it will prevent pharmaceutical companies from manipulating the use of terminal disclaimers to build future patent thickets. Together, by advancing our bill to address patent thickets and finalizing the proposed rule, we could provide tangible benefits to the patient community.” 
    The Senators concluded: “We strongly urge USPTO to finalize the proposed rule so that Americans can start to see the benefits of lower cost prescription drugs.” 
    In January, Senators Welch, Braun, and Klobuchar introduced bipartisan, bicameral legislation to streamline drug patent litigation, encourage fair market competition, and lower prescription drug prices by making it easier for generic and biosimilar companies to enter the market. The bill codifies the practice that many federal district courts across the country already apply to limit the number of patents or patent claims a company can assert in litigation. Rep. Jodey Arrington (TX-19) introduced companion legislation in the House. Read more about the bill. 
    Read the full letter. 

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI USA: Gallego Applauds FTC For Answering His Calls, Taking Action Against Predatory Rental Practices

    Source: United States House of Representatives – Representative Ruben Gallego (AZ-07)

    September 24, 2024

    FTC action follows multiple letters from Rep. Gallego urging action on predatory, anticompetitive rental practices

    WASHINGTON – Today, the Federal Trade Commission (FTC) announced it is taking action against Invitation Homes, which owns nearly 9,000 homes in Arizona, for an array of unlawful actions against consumers. The action follows multiple letters Rep. Gallego has sent urging the Commission to take action on predatory, anticompetitive rental practices.

    “From charging undisclosed junk fees to failing to provide basic maintenance, Invitation Homes has been swindling Arizonans for years,” said Rep. Gallego. “I’m glad to see the FTC is answering my calls and cracking down on these kinds of predatory, anti-competitive practices that harm Arizona families and legitimate businesses. Arizonans deserve affordable housing with honest landlords, and that’s what I’ll keep fighting for.”

    Invitation Homes has agreed to a proposed settlement order that would require the company to turn over $48 million to be used to refund consumers harmed by its actions. The corporate landlord will also be required to clearly disclose its leasing prices, establish policies and procedures to handle security deposit refunds fairly, and stop other unlawful behavior.

    You can learn more about Rep. Gallego’s work to make Arizona more affordable in his reporters Cutting Costs for Arizonan

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI USA: S. 2498, Hotel Fees Transparency Act of 2024

    Source: US Congressional Budget Office

    S. 2498 would require providers of short-term lodging and websites that advertise or offer such lodging to display upfront the full lodging price and each mandatory fee required to complete a booking. The Federal Trade Commission (FTC) would be responsible for enforcing the requirements of the bill.

    Using information from the FTC, CBO estimates that implementing S. 2498 would cost $4 million over the 2024-2029 period to issue guidance and monitor and enforce violations. Any related spending would be subject to the availability of appropriated funds.

    Additionally, companies that fail to meet the new requirements could face civil penalties, which are recorded in the federal budget as revenues. However, the extent to which businesses would violate the bill’s requirements after they go into effect is uncertain. Furthermore, if a business does violate those requirements and the FTC chooses to proceed with an enforcement action, the extent to which the agency would pursue civil penalties rather than other remedies is also uncertain, as is the amount of time it would take to resolve each case. As a result, CBO estimates that any additional revenues collected under the bill would be insignificant over the 2024-2034 period. 

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI USA: Dissenting Statement of Commissioner Caroline D. Pham on the Filing of Administrative Complaints for Enforcement Actions

    Source: US Commodity Futures Trading Commission







    /PressRoom/SpeechesTestimony/phamstatement092424

    Skip to main content

    September 24, 2024

    WASHINGTON, D.C. – Commodity Futures Trading Commission (CFTC) Commissioner Caroline D. Pham today released the following statement on the CFTC’s filing of four administrative complaints for enforcement actions before a CFTC temporary hearing officer:

    “It is unbelievable that in the wake of the U.S. Supreme Court’s Jarkesy opinion and the heightened scrutiny of agency administrative proceedings, the Commission is doubling down on bringing enforcement actions before a hearing officer—not even an Administrative Law Judge. Last year, when the Commission pulled this maneuver at the last minute, I stated that this shotgun approach ‘flies in the face of decades of Commission standard practice and rules, bypasses federal Article III courts, and is a misuse of the CFTC’s adjudication authority.’

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI USA: Phillips, Wilson intro bill advancing U.S.-Jordan security partnership

    Source: United States House of Representatives – Representative Dean Phillips (MN-03)

    Washington, D.C. —Today, Rep. Dean Phillips (D-MN), Ranking Member of the House Foreign Affairs Subcommittee on the Middle East, North Africa, and Central Asia, introduced the United States-Jordan Defense Cooperation Act of 2024 to advance and deepen our strategic defense partnership. 

    Jordan has long been a reliable partner and has worked alongside the U.S. in countering our adversaries and ensuring security and stability in the Middle East. As such, it is in our shared national security interest for the U.S. to continue to support the strong U.S.-Jordan bilateral defense partnership. 

    As Jordan faces increasing security and economic challenges, this important bipartisan legislation reinforces the United States’ ironclad commitment to Jordan’s stability and security by increasing economic support and military cooperation through streamlining defense sales, building on the Memorandum of Understanding, and expanding integrated air and missile defense architecture in coordination with other regional allies and partners.

    In the House, the U.S.-Jordan Defense Cooperation Act is co-led with Representative Joe Wilson (R-SC), Chair of the House Foreign Affairs Subcommittee on the Middle East, North Africa, and Central Asia. Senators Marco Rubio (R-FL) and Jacky Rosen (D-NV) introduced companion legislation in June.

    “The U.S.-Jordan partnership is critical to safeguarding our mutual national security interests in the Middle East from countering violent extremism and trafficking to deterring Iranian aggression,” said Ranking Member Phillips. “I am proud to introduce the U.S.-Jordan Defense Cooperation Act alongside Chair Wilson as we reinforce our commitment to strengthening the U.S.-Jordan partnership and to ensuring stability and security across the region.” 

    “The aggression of the regime in Tehran continues to threaten U.S. national security interests in the region and beyond. The Kingdom of Jordan is a valued partner and it is critical to reinforce and bolster ongoing U.S. commitments,” said Chairman Wilson. “As the U.S. and our regional allies work together towards a peaceful Middle East, I am grateful to co-lead this bill and strengthen our partnership with the Kingdom of Jordan to counter terrorist and extremist threats and deter aggression from the deadly octopus of the Iranian Regime.”

    Specifically, the U.S.-Jordan Defense Cooperation Act of 2024 would:

    • Include Jordan among the countries eligible for certain streamlined defense sales, licensing agreements, and technical assistance under the Arms Export Control Act for three years;   
    • Authorize the Secretary of Defense, in coordination with the Secretary of State, to set up a program to enhance U.S.-Jordan cooperation to counter air, missile, and unmanned aerial systems (UAS) threats as well as to bolster participation in multinational integrated air and missile defense architecture to protect its people, infrastructure, and territory;
    • Authorize the Department of State to enter into a Memorandum of Understanding with Jordan to increase economic support and military cooperation after the current agreement expires in 2029; and 
    • Express the sense of Congress that the United States commitment to Jordan’s stability and security is ironclad and that expeditious consideration of certifications of letters of offer to sell defense articles and services to Jordan is fully consistent with U.S. security and foreign policy interests and the objectives of peace and security.

    Full text of the bill is available here.

    ###

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI New Zealand: Dairy Sector – Fonterra announces lift in Farmgate Milk Price and FY25 earnings guidance

    Source: Fonterra

    Fonterra Co-operative Group Ltd has today announced a 50 cent lift in its 2024/25 forecast Farmgate Milk Price midpoint to $9.00 per kgMS and FY25 earnings guidance of 40-60 cents per share.  

    CEO Miles Hurrell says the lift in this season’s forecast Farmgate Milk Price follows further recent strengthening in Global Dairy Trade prices and constrained milk supply in key producing regions.  

    “I’m pleased to be announcing an increase in this season’s forecast Farmgate Milk Price, which I’m sure will be welcome news for farmers, particularly when combined with the 55 cent total dividend for FY24 also announced by the Co-op today,” says Mr Hurrell.  

    Fonterra’s new forecast Farmgate Milk Price range for the 2024/25 season is $8.25-$9.75 per kgMS, with the Co-op continuing to maintain the wide range due to the relatively early stage of the season.  

    “We’ve also announced today our forecast earnings for FY25 of 40-60 cents per share,” says Mr Hurrell.  

    “The forecast earnings range reflects an expectation we will maintain strong margins in all three of our sales channels, while also investing in the Co-op’s IT & digital transformation and incurring higher tax expenses,” says Mr Hurrell.  

    Fonterra advises that, after several years of strong earnings performance, the Co-op exhausted its tax losses in FY24 and will now be paying tax.  

    Chief Financial Officer Andrew Murray says that “as a result of this change, when we declare a dividend from FY25 and beyond, imputation credits will now be available to be attached to our dividend.  

    “To enable all shareholders to receive the imputation credits, we are changing how we treat supply backed shares for tax purposes which means that more tax will be paid by Fonterra.

    “While this does not impact the operating performance of Fonterra, it will reduce our reported earnings per share in future years, as Fonterra will have paid the tax on the cash to be distributed,” says Mr Murray.

    About Fonterra 

    Fonterra is a co-operative owned and supplied by thousands of farming families across Aotearoa New Zealand. Through the spirit of co-operation and a can-do attitude, Fonterra’s farmers and employees share the goodness of our milk through innovative consumer, foodservice and ingredients brands. Sustainability is at the heart of everything we do, and we’re committed to leaving things in a better way than we found them. We are passionate about supporting our communities by Doing Good Together. 

    Non-GAAP financial information  

    Fonterra uses several non-GAAP measures when discussing financial performance. Non-GAAP measures are not defined or specified by NZ IFRS.    

    Management believes that these measures provide useful information as they provide valuable insight on the underlying performance of the business. They may be used internally to evaluate the underlying performance of business units and to analyse trends. These measures are not uniformly defined or utilised by all companies. Accordingly, these measures may not be comparable with similarly titled measures used by other companies. Non-GAAP financial measures should not be viewed in isolation nor considered as a substitute for measures reported in accordance with NZ IFRS.  

    Non-GAAP measures are not subject to audit unless they are included in Fonterra’s audited annual financial statements.

    MIL OSI New Zealand News –

    September 29, 2024

  • MIL-OSI USA: CFTC Orders Canadian Imperial Bank of Commerce to Pay $1.25 Million for Untimely Swaps Reporting

    Source: US Commodity Futures Trading Commission

    Washington, DC — The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges with Canadian Imperial Bank of Commerce (CIBC) for repeatedly failing to timely report swap transactions to a registered swap data repository as required by the Commodity Exchange Act (CEA) and CFTC Regulations.

    The order imposes a $1.25 million civil monetary penalty and orders CIBC to cease and desist from violating the CEA and CFTC regulations as charged. CIBC also admits the facts detailed in the order.

    “Timely swaps reporting is a critical component of the swaps reporting regulatory regime, and it is essential to the overall effectiveness of the swaps reporting system,” said Division of Enforcement Director Ian McGinley. “Where there is substantial cooperation, including significant voluntary reporting of factual findings and remediation, as was the case here, the CFTC will not hesitate to recognize a swap dealer’s engagement and efforts to be in compliance with the law.”

    Case Background

    The order finds that from at least Jan. 2017 to the present, CIBC was late in reporting various types of data for its swaps transactions, including real time, primary economic terms, confirmation, snapshot and valuation data. CIBC consistently reported swap data outside the time requirements prescribed by Parts 43 and 45 of the regulations regarding millions of required reports. The untimeliness of CIBC’s swaps reporting was pervasive over the course of the relevant period and impacted thousands of swaps.

    The reduced civil monetary penalty in the order recognizes CIBC’s substantial cooperation with the Division of Enforcement’s investigation and acknowledges CIBC’s representations regarding its remediation efforts, including retaining a consultant, conducting extensive historical analysis and devoting significant resources to remediation. 

    The Division of Enforcement staff responsible for this matter are Katie Rasor, Alejandra de Urioste, David MacGregor, Lenel Hickson, Jr. and Manal M. Sultan.

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI New Zealand: School students put through challenging but rewarding test of fitness and skills in EIT competition | EIT Hawke’s Bay and Tairāwhiti

    Source: Eastern Institute of Technology – Tairāwhiti

    2 mins ago

    An EIT fitness competition has seen students from across Hawke’s Bay and Tairāwhiti put through their paces in Mahia recently.

    Students from across Hawke’s Bay and Tairāwhiti were put through their paces recently in an EIT competition that tested their skills, fitness and resilience.

    The competition, organised by EIT’s School of Trades and Technology, took place in Mahia last week and saw teams from East Coast and Wairoa College Services Academies and the Hawke’s Bay and Tairāwhiti Trades Academy participate.

    The teams completed a 20km circuit throughout the night carrying logs, steel bars and military packs, and throughout the circuit they stopped and completed tasks such as putting up a 11 x 11 Army tent, a stretcher carry up Mokotahi hill and rope climb out of the river onto a bridge.

    Tairāwhiti Trades Academy was the first team home in 5hrs 14 mins, with all teams back to camp by 2am.

    EIT Trades and Technology Head of School, Todd Rogers, who completed the challenge himself, said that feedback had been positive and EIT would like to make it an annual event.

    “Absolutely awesome effort from all teams involved, a challenging yet rewarding introduction to life in the New Zealand Defence Force.”

    “I’d like to make special mention to the team from Wairoa College Services Academy who were mostly year 10 students with one year 12 and performed to a high standard coming in third place. It would be great to see as many students as possible transition into EIT’s Services Pathway programme or straight into the NZDF.”

    Todd thanked Defence Careers and East Coast Company of 5/7 Infantry regiment for their support.

    The Trades Academy, at EIT’s Tairāwhiti and Hawke’s Bay campuses, works with secondary schools to provide year-long trades programmes to help students achieve NCEA Level 2 or 3 and prepare for higher-level study. The Trades Academy offers programmes that include automotive, trade skills, hair and beauty, hospitality, agriculture, and health and fitness. Students attend Trades Academy each week, gaining  vocational skills and getting hands on experience.

    MIL OSI New Zealand News –

    September 29, 2024

  • MIL-OSI: Banco Itaú Chile Files Material Event Notice announcing the appointment of Director

    Source: GlobeNewswire (MIL-OSI)

    SANTIAGO, Chile, Sept. 24, 2024 (GLOBE NEWSWIRE) — BANCO ITAÚ CHILE (SSE: ITAUCL) announced that it filed today a Material Event Notice with the Chilean Commission for the Financial Market reporting that, at the ordinary session held on this date, the Board of Directors of Banco Itaú Chile (the “Bank”) learned about the resignation of Mr. Milton Maluhy Filho from the position of director of the Bank, which will take effect on September 30, 2024.

    Likewise, on this same date, the Board of Directors of the Bank agreed to appoint Mr. Gabriel Amado de Moura as his replacement, effective as of October 1, 2024, who will continue to serve in his role until the next Ordinary Shareholders Meeting, at which the final appointment will be made. In addition, as of the aforementioned date, Mr. Gabriel Amado de Moura will assume the position of vice-chairman of the Board of Directors of Banco Itaú Chile.

    The Material Event Notice is available on the company’s investor relations website at ir.itau.cl.

    Investor Relations – Banco Itaú Chile

    IR@itau.cl / ir.itau.cl

    The MIL Network –

    September 29, 2024

  • MIL-OSI USA: Senator Markey Introduces AI Civil Rights Act to Eliminate AI Bias, Enact Guardrails on Use of Algorithms in Decisions Impacting People’s Rights, Civil Liberties, Livelihoods

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Bill Text (PDF) | Section by section (PDF)
    Washington (September 24, 2024) – Senator Edward J. Markey (D-Mass.), member of the Senate Committee on Commerce, Science and Transportation, introduced his Artificial Intelligence (AI) Civil Rights Act, comprehensive AI civil rights legislation which will put strict guardrails on companies’ use of algorithms for consequential decisions, ensure algorithms are tested before and after deployment, help eliminate and prevent bias, and renew Americans’ faith in the accuracy and fairness of complex algorithms. Senator Mazie Hirono (D-Hawaii) is a cosponsor on the bill.
    “Whether on the Senate floor or around the dining room table, artificial intelligence is the hottest topic of the year. But these complex algorithms have a darker side as well — one that has real consequences for everyday people, especially marginalized communities,” said Senator Markey. “I am introducing the Artificial Intelligence Civil Rights Act to ensure that the AI Age does not replicate and supercharge the bias and discrimination already prevalent in society today. Make no mistake: we can have an AI revolution in this country while also protecting the civil rights and liberties of everyday Americans, we can support innovation without supercharging bias and discrimination, and we can promote competition while safeguarding people’s rights.
    I am grateful for the support of the Lawyers’ Committee for Civil Rights Under Law, the Leadership Conference on Civil and Human Rights, and many other advocates who have been essential partners in this fight for fair and equitable AI. I look forward to working with my colleagues to ensure that any AI regulation includes strong and enforceable civil rights protections.”
    “While AI can improve decision-making across various sectors, systemic biases in AI algorithms disproportionately impact marginalized communities,” said Senator Hirono. “This legislation would help to protect Americans against biased algorithms and mitigate discrimination perpetuated through AI, helping to secure the civil rights and liberties of all Americans.”
    In particular, the AI Civil Rights Act:
    Regulates algorithms involved in consequential decisions, such as those that impact people’s rights, civil liberties, and livelihoods, including employment, banking, health care, the criminal justice system, public accommodations, and government services;
    Prohibits developers and deployers from offering, licensing, or using covered algorithms that discriminate based on protected characteristics or that cause a disparate impact;
    Requires developers and deployers of covered algorithms to complete independently audited pre-deployment evaluations and post-deployment impact assessments to identify, evaluate, and mitigate any potential biased use or discriminatory outcomes;
    Requires developers and deployers to mitigate any harms identified by the pre-deployment evaluations and impact assessments and ensure that any covered algorithm performs reasonably well and is consistent with its publicly-advertised purpose;
    Increases transparency around the use of covered algorithms in consequential decisions, including providing individuals a right to appeal an algorithmic decision to a human decision-maker; and
    Authorizes the Federal Trade Commission, state attorneys general, and private individuals to enforce the Act.
    The AI Civil Rights Act is endorsed by the Lawyers’ Committee for Civil Rights Under Law, The Leadership Conference on Civil and Human Rights, Free Press Action, UnidosUS, NAACP,  American Civil Liberties Union (ACLU), Electronic Privacy Information Center (EPIC), Public Citizen, Access Now, Asian Americans Advancing Justice – AAJ, Brennan Center for Justice, Fight for the Future, National Disability Rights Network (NDRN), Common Cause, National Center for Transgender Equality (NCTE), The Trevor Project, National Council of Negro Women, Encode Justice, NETWORK Lobby for Catholic Social Justice, Accountable Tech, the National Hispanic Media Coalition (NHMC), Color of Change, and Writers Guild of America, East (WGAE).
    “Algorithmic justice is a civil rights issue. Just as the struggles of the civil rights movement gave rise to groundbreaking civil rights laws, the harms resulting from the unregulated use of AI and other algorithmic tools demand passing new legislation now,” said Damon Hewitt, President and Executive Director of the Lawyers’ Committee for Civil Rights Under Law. “The AI Civil Rights Act is first-of-its-kind legislation that takes a comprehensive approach to regulating AI across sectors. It prioritizes protecting Black communities and other people of color from discrimination, bias, and rampant AI abuse. The civil rights bill of the future is right here, and we are proud to endorse it.”
    “After a flurry of AI bills being introduced by this Congress — with many omitting any mention of civil rights or safeguards — it’s refreshing to see Senator Markey take a unique and necessary approach. The AI Civil Rights Act is comprehensive, touching on everything from employment to housing and education and setting a standard for other pieces of AI legislation to address real-world harms. Rather than reflect Big Tech talking points and the urge to ‘move fast and break things,’ this bill recognizes that innovation must include all of us,” said Koustubh “K.J.” Bagchi, vice president of The Leadership Conference’s Center for Civil Rights and Technology.
    “The AI Civil Rights Act is the bold, innovative policy we need today to ensure a just tomorrow for us all. The premise is simple: the AI tools and systems used at the most critical decision points in our lives – mediating our access to homes, employment, healthcare, and opportunities –should be demonstrated to be accessible and fair before being unleashed on the American public. With this technologically sophisticated bill, anchored in enduring American commitments to freedom, Senator Markey ushers in a new day for civil rights and digital equity,” said Alondra Nelson, Distinguished Senior Fellow, Center for American Progress and former Acting Director, White House Office of Science and Technology Policy.
    “It is vitally important that technological development serves the public interest. A key part of this is ensuring that those who develop and deploy technology, including advanced AI systems that impact people’s civil rights and opportunities, are held to a duty of care. The AI Civil Rights Act provides a detailed and practical approach to ensuring that we can continue to benefit from safe innovation in technology,” said Suresh Venkatasubramanian, former White House AI Advisor and co-author of the Blueprint for an AI Bill of Rights.
    “AI products are now making their way into the lives of real people at an unfathomable scale – impacting everything from our experience at work to our ability to access benefits. It is crucially important in this moment that we do what we can to protect the vulnerable populations most impacted by these systems. Even in the hyped rush to adopt AI technology, we cannot permit anything to interfere with our hard-earned civil rights,” said Deborah Raji, researcher, UC Berkley.
    “Artificial intelligence is rapidly entering every corner of our lives — from access to education, healthcare and insurance to decisions made by the courts, police, and immigration officials — with far too little public input or recourse when these systems cause real-world bias or harm,” said Craig Aaron, President and Co-CEO of Free Press Action. “The AI Civil Rights Act is a serious step toward addressing these urgent issues and enabling federal regulators to keep up with these evolving technologies. It prohibits the use, sale, or promotion of algorithmic decision-making systems that discriminate or cause disparate impact on the basis of race, sex, religion, or disability. This legislation would require those designing and deploying AI tools to conduct audits for potential harms and publicly share the results. Ensuring new tools and technologies aren’t used to exacerbate discrimination must be a top priority for policymakers. We applaud Senator Markey and the co-sponsors of this legislation for their leadership.”
    “AI systems—which already today impact consumer credit, law enforcement, immigration, housing, and health care decisions—can be unfair in any direction, and in multiple directions at once, because the systems generate predictions based on inferences from complex data sets. Assessing the fairness of the inputs to systems and the outcomes is an essential check—or we risk models that senselessly bind our futures to our often-problematic past. We simply cannot afford to implement systems first and check them later, nor would that approach be consistent with a multicultural democracy that strives to achieve opportunity for all,” said Laura MacCleery, Senior Policy Director, UnidosUS. “By mandating pre- and post-deployment testing, minimum transparency standards, and human alternatives to AI decision-making, this legislation establishes essential steps to help make the uses of AI both accountable and legitimate. We commend Senator Markey for his continued leadership in this ongoing effort to keep emerging technologies fair and responsible—not just in name but in practice. This Act is an excellent foundation for the checks and balances we will need to harness AI’s potential while protecting civil rights and promoting fairness.”
    “The AI Civil Rights Act is a benchmark for AI legislation; it avoids sensationalist claims about AI, while providing real protections from civil rights harms that are happening already. The emerging world of AI is complex, and Sen. Markey has set the bar for legislation ensuring that AI is fair and equitable. We look forward to continuing to refine and champion these protections and working with Congress for passage,” said Cody Venzke, Senior Policy Counsel, ACLU.
    “Artificial intelligence systems are being developed and deployed in opaque and unaccountable ways that are harming individuals and exacerbating biases. Senator Markey’s Artificial Intelligence Civil Rights Act of 2024 puts critical guardrails in place to ensure automated decision-making is fair, transparent, and non-discriminatory. EPIC is proud to support this legislation,” said Caitriona Fitzgerald, Deputy Director of the Electronic Privacy Information Center (EPIC).
    “With the AI industry launching products that will make decisions on key aspects of our lives, such as unemployment insurance, Congress must install guardrails to prevent violations of our rights. The AI Civil Rights Act is necessary legislation that addresses the growing need to protect civil rights in an era where AI systems are increasingly shaping critical decisions in areas such as employment, housing, and access to services. By setting rigorous standards for the development, deployment, and auditing of AI technologies, the Act installs pertinent guardrails so that these powerful models will not perpetuate discrimination or harm marginalized communities. Public Citizen commends Senator Markey for his leadership in advancing this vital piece of legislation,” said Lisa Gilbert, Co-President, Public Citizen.
    “Secretive algorithms developed by the private sector can easily fuel discriminatory surveillance, policing, and immigration enforcement,” said Faiza Patel, senior director of the Liberty and National Security Program at the Brennan Center for Justice. “The AI Civil Rights Act is a significant step towards ensuring that the private sector undertakes adequate and transparent due diligence to mitigate AI’s most profound risks to civil liberties and rights.”
    “Access Now is proud to support the AI Civil Rights Act, a crucial step in holding algorithmic decision-making accountable at every stage,” said Willmary Escoto, U.S. Policy Counsel, Access Now. “This bill prioritizes human rights by enforcing transparency, accountability, and remedies for those harmed by AI. We commend Senator Markey for championing equity, privacy, and justice, and urge Congress to advance this critical legislation.”
    “When it comes to AI regulation, the AI Civil Rights Act is right to prioritize civil rights protections coupled with requirements to test and provide transparency. We desperately need AI policies that are rooted in human rights, free expression, and addressing the most immediate harms to the most marginalized people. It’s clear that AI is exacerbating problems with discrimination and bias, but those problems are being hidden behind layers of tech hype, trade secrets, and a focused but familiar campaign to tell legislators and everyday people alike that we aren’t smart enough to grapple with the realities of emerging technology. This is a lie that is being weaponized to allow AI’s supercharged harms to run rampant. This bill is an important step toward putting risky and harmful AI projects and their shady sycophants back in their place. Human rights and accountability should come before tech profits,” said Lia Holland, Campaigns and Communications Director, Fight for the Future.
    “AI inherently poses risks for voters, as biased algorithms can perpetuate discrimination and lead to disparate outcomes,” said Ishan Mehta, Director for Media and Democracy, Common Cause. “We commend Senator Markey for his bill to create important and strong safeguards for AI systems, which will promote equity and accessibility.”
    “The Artificial Intelligence Civil Rights Act is our generation’s moonshot for democracy in the digital age. It ensures that as machines learn, America’s values aren’t forgotten. This isn’t just about regulating technology; it’s about safeguarding the very fabric of our society for generations to come. With this Act, we’re not just keeping pace with AI – we’re encoding fairness and equal opportunity into the DNA of our technological future,” said Sunny Gandhi, VP of Political Affairs, Encode Justice.
    “The AI Civil Rights Act must become law to ensure that people are not denied work or career advancement because of biased algorithms ingrained in artificial intelligence systems. Whether it’s a journalist who covers marginalized communities or a first-time screenwriter whose voice is not a common tone, we cannot let employers weaponize AI as cover to discriminate against people based on race, religion, age or other protected characteristics,” said Lisa Takeuchi Cullen, President of the Writers Guild of America, East.
    “Organizations developing and deploying AI tools should have to prove to the public that their tools aren’t harmingful before they are allowed to release these tools. We’re glad to see Senator Markey taking these steps to prioritize citizen’s rights over profits for multinational corporations,” said Timnit Gebru, Founder and Executive Director of Distributed Artificial Intelligence Research Institute (DAIR).
    While artificial intelligence has already begun to revolutionize certain industries, the federal government must be committed to combating potential side effects of this emerging technology. Senator Markey has called on the federal government to hold Big Tech accountable, investigate AI, and stop algorithmic injustice. On September 17th, 2024, Senator Markey and Senate Majority Leader Chuck Schumer (D-N.Y.) sent a letter to Shalanda Young, the Director of the Office of Management and Budget, demanding that all federal agencies that use AI for consequential decisions establish or maintain a civil rights office to establish additional safeguards to prevent algorithmic discrimination.
    In December 2023, Senator Markey introduced the Eliminating Bias in Algorithmic Systems (BIAS) Act to ensure that every federal agency that uses, funds, or oversees artificial intelligence (AI) has an office of civil rights focused on combatting AI bias and discrimination. In October 2023, he and Congresswoman Pramila Jayapal (WA-07) applauded the Biden administration for heeding their call to incorporate the White House Blueprint for an AI Bill of Rights into its AI Executive Order. In July 2023, Senator Markey and Congresswoman Doris Matsui (CA-07) reintroduced their Algorithmic Justice and Online Platform Transparency Act to ban discriminatory algorithms and improve transparency on social media platforms.

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI Australia: Trade talks in Adelaide with India’s Minister of Commerce and Industry

    Source: Minister for Trade

    Today, I will welcome India’s Minister of Commerce and Industry, Shri Piyush Goyal to Adelaide for the 19th Australia-India Joint Ministerial Commission.

    Australia and India are close partners, and our trade, investment and economic relationship is growing faster than ever.

    Minister Goyal’s visit to Australia this week is the first since the Albanese Labor Government was elected and reinforces our shared commitment to expand two-way trade and investment.

    India is the world’s fastest growing major economy and is on track to become the world’s third largest economy by 2030.

    Our first trade agreement with India has strengthened our economies – creating more jobs and opportunities for businesses and exporters, while reducing prices at the checkout.

    Since this trade deal entered into force in November 2022, around $30 billion worth of Australian exports have entered India tariff-free, and Australians have saved around $225 million on goods from India.

    Building on this success, we are continuing negotiations on our next trade agreement with India, an ambitious Comprehensive Economic Cooperation Agreement.

    Our government has also finished consultations on a new roadmap for Australia’s economic engagement with India – which presents enormous growth opportunities for Australian business in clean energy, agribusiness, education and skills, and tourism.

    I look forward to meeting with Minister Goyal and discussing how we can continue to advance the Australia-India economic relationship.

    MIL OSI News –

    September 29, 2024

  • MIL-OSI USA: Hawley Blasts McKinsey’s Ties to China, Rebukes Witness for Equating Consulting Firms with Soybean Farmers

    US Senate News:

    Source: United States Senator Josh Hawley (R-Mo)

    Tuesday, September 24, 2024

    In today’s Homeland Security and Governmental Affairs Committee (HSGAC) hearing, U.S. Senator Josh Hawley (R-Mo.) made the case for his legislation, the Time to Choose Act, which would restrict consulting firms like McKinsey & Company from receiving government contracts while, at the same time, advising U.S. adversaries like China.
    “Why are [U.S. consulting firms] getting taxpayer money, advising our military, and, simultaneously, advising the Chinese military?” Senator Hawley asked incredulously.
    [embedded content]
    Senator Hawley also pushed back against Bryan Riley, Director of the National Taxpayers Union’s Free Trade Initiative, and his comparison of American soybean farmers to U.S. consulting firms advising the Chinese Communist Party.
    “I come from a state where our number one agricultural product is soybeans,” Senator Hawley explained. “We are a state of soybeans farmers, and—I can tell you—I think they would take great offense to you comparing them to a consulting firm that is taking a billion dollars in money from the United States military while simultaneously advising the Chinese military on how to harm the United States.”
    He continued, asking, “Are you saying that soybean farmers harm the security interests of the United States?”
    Background
    The Time to Choose Act passed the HSGAC this past May by an overwhelming bipartisan margin. Senator Hawley originally brought forth the bill in 2022 and reintroduced it earlier this year. HSGAC Chairman Gary Peters (D-Mich.), Senator Rick Scott (R-Fla.), and Senator Marco Rubio (R-Fla.) are cosponsors.
    The legislation would prohibit the Department of Defense (DOD) and other federal agencies from contracting with consulting firms like McKinsey that are also doing business with the Chinese government or its affiliates.
    Watch Senator Hawley’s full remarks here, or click on the image above.

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI Asia-Pac: FS promotes Hong Kong’s dual advantages in financial services and innovation and technology in Madrid, Spain (with photos/videos)

    Source: Hong Kong Government special administrative region

         â€‹The Financial Secretary, Paul Chan, continued his visit to Madrid, Spain, yesterday (September 24, Madrid time).

         During a business luncheon hosted by the Hong Kong Trade Development Council (HKTDC), Mr Chan delivered a keynote speech to about 150 leaders from the business, financial and innovation and technology sectors from Spain, and engaged in discussions with participants. He pointed out that Hong Kong has restored its global connections after the pandemic and with the singular advantages under the “one country, two systems” arrangement, is further solidifying its role as a super connector. He said Hong Kong welcomes Spanish enterprises to use Hong Kong as a springboard to tap into the vast markets of the Guangdong-Hong Kong-Macao Greater Bay Area, the Mainland, and broader Asia.

         Mr Chan further noted that Hong Kong offers a full spectrum of fund-raising and financial services. Combined with the mutual access schemes with the capital markets of the Mainland, Hong Kong provides the channel where Spanish companies can conveniently attract funds from both the Mainland and international markets. Additionally, Hong Kong is a leader in green finance in Asia, and its green standards are compatible with those of the European Union, green projects from Europe can fully leverage Hong Kong as a fund-raising platform. At the same time, Hong Kong is making great strides to become an international innovation and technology centre, with a burgeoning innovation and technology ecosystem that can collaborate with Spain’s tech ecosystem across key sectors such as artificial intelligence, biotechnology, fintech, new energy and new materials.

         In conclusion, Mr Chan expressed hope for strengthening co-operation with Spain in finance, innovation and technology, culture, and creative industries to deepen co-operation and achieve mutually rewarding success.

         During the discussion session of the luncheon, the Chief Executive Officer of the Hong Kong Science and Technology Parks, Mr Albert Wong, and the Chief Public Mission Officer of Cyberport, Mr Eric Chan, shared insights on Hong Kong’s innovation and technology development and advantages, the ecosystems of the two institutions, and the multi-faceted support offered to start-ups.

         In the afternoon, Mr Chan met with the Secretary of State for Trade of Spain, Ms Amparo López Senovilla and briefed her on Hong Kong’s latest economic development. They engaged in in-depth exchanges on further promoting economic and trade co-operation and mutual investments between the two economies. HKTDC Chairman, Dr Peter Lam, and its Executive Director, Ms Margaret Fong, also participated in the meeting.

         In the morning, Mr Chan led a delegation of tech start-ups to visit start-up accelerator IMPACT and Spanish telecommunications company Telefónica respectively. IMPACT, co-founded by the renowned digital business school ISDI, is one of Europe’s leading start-up accelerators, helping start-ups in and out of Europe build networks, and providing financial support, mentoring and training. The start-up representatives of the delegation interacted with IMPACT leaders, sharing their entrepreneurial ideas and business developments. The delegation then visited Telefónica to learn about the company’s operations and its development strategies in 5G telecommunications, the Internet of Things, Web3.0 and etc.; as well as its experience in incubating and investing in innovation and technology firms. 

         Mr Chan will continue his visit in Madrid today (September 25, Madrid time) and will travel to London in the afternoon.                           

    MIL OSI Asia Pacific News –

    September 29, 2024

  • MIL-OSI Australia: Training programs to plug jobs gap in the visitor economy

    Source: New South Wales Premiere

    Published: 25 September 2024

    Released by: Minister for Jobs, Minister for Skills, TAFE and Tertiary Education, Minister for Tourism

    The Minns Labor Government is boosting NSW’s visitor economy workforce, delivering subsidised training programs for a sector that is expected to need up to 150,000 more workers over the next decade.

    TAFE NSW is partnering with Destination NSW to develop and deliver training programs jointly funded by the Federal Government’s NSW Choose Tourism Program.

    The subsidised courses are designed to address industry workforce shortages by encouraging Australians to pursue a career in the visitor economy, helping operators to attract, retain and upskill staff. 

    A key recommendation of the Visitor Economy Strategy 2030 Review, to be released in coming weeks, is to encourage school leavers and other jobseekers into the tourism workforce, with the aim of growing the sector in NSW to 450,000 workers. 

    The Review finds that currently school leavers are spurning visitor economy careers, with leakage of workers into mining, agriculture and trades due to “perceived better career paths, industry confidence and better pay”. 

    Having reached a record $52.9 billion of annual visitor expenditure in the year to June, the NSW visitor economy is Australia’s biggest. 

    The growth in the NSW visitor economy over the coming decade will coincide with the opening of the Western Sydney Airport in 2026 and a new emphasis on visitor experiences that show off the best of our food and wine, coastal and aquatic environments, nature-based, cultural, heritage, arts, First Nations, adventure and wellness experiences. 

    The new training programs include:

    • An ‘Introduction to the Visitor Economy’ microskill: a short self-directed online course, designed to provide foundational knowledge and explore careers in the visitor economy industry. The microskill will be offered free to the public for the first six weeks of release, with fully subsidised access available for NSW high school students.
    • Five one-hour video masterclasses: fully subsidised pre-recorded masterclasses will be available on the TAFE NSW website, featuring industry experts such as Scenic World, Cupitt’s Estate, Merlin Entertainments, Sydney Opera House, and W Hotels.  
    • Modernised Certificate III in Tourism: set for delivery in 2025, this updated qualification will include new visitor economy skills. Updates will also incorporate contemporary case studies and assessments based on industry feedback to ensure the qualification meets the current needs of the sector. 

    The ‘Introduction to Visitor Economy’ microskill is launching today and masterclasses will be available from late October 2024. To find out more, visit tafensw.edu.au/visitoreconomy

    Minister for Jobs and Tourism, John Graham said:

    “Through the NSW Visitor Economy Strategy 2030 review, we discovered that we need more school leavers to pursue careers in the visitor economy.

    “A career in the visitor economy offers not just an incredible professional pathway but also the opportunity for some of the best life experiences available anywhere in the world.  

    “These new training programs will be invaluable to attracting more people to the visitor economy workforce and will alleviate pressure from the countless small businesses who are feeling the pinch as they look for skilled workers to fill jobs.”

    Minister for Skills, TAFE and Tertiary Education, Steve Whan said:

    “TAFE NSW is working closely with industry to deliver relevant, modern training to build a pipeline of workers needed to support a thriving visitor economy.

    “High schools across NSW, as well as the public, will have access to fee-free places in the Introduction to Visitor Economy microskill, opening doors for people to discover opportunities in this dynamic sector.

    “These exciting new training opportunities will be available online, so people across the state can access the skills and expertise needed to excel in the visitor economy, helping regional businesses attract and retain talent.”

    Federal Minister for Trade and Tourism Don Farrell said:

    “A strong, sustainable, skilled workforce is critically important to Australia’s tourism industry.

    “It is a great industry to work in with a diverse range of exciting career opportunities.

    “That is why the Albanese Government is supporting New South Wales, and all states and territories, to build their tourism workforce through our Choose Tourism grants program.

    “My first job was in tourism, and I know firsthand what an amazing opportunity this industry provides, I commend NSW on these initiatives.”

    MIL OSI News –

    September 29, 2024

  • MIL-OSI Economics: ADB Maintains Cambodia’s Growth Forecast for 2024-2025

    Source: Asia Development Bank

    PHNOM PENH, CAMBODIA (25 September 2024) —The Asian Development Bank (ADB) has maintained its growth forecast for Cambodia at 5.8% for 2024 and 6.0% for 2025. It has revised down its earlier inflation projection for 2024 from 2.0% to 0.5%, reflecting the slow increase in food prices and decline in fuel prices in the first half of 2024, according to the Asian Development Outlook (ADO) September 2024.

    “The rebound in the manufacturing sector— especially garments, footwear, and travel goods (GFT) — is powering the country’s economic growth,” said ADB Country Director for Cambodia Jyotsana Varma. “Agriculture and tourism are steadily gaining ground, while continued inflows of foreign direct investment are fueling the country’s economic momentum. Together, these forces are setting the stage for a promising 2024 and positioning Cambodia for robust growth in 2025 and beyond.”

    The lowering of inflation forecasts reflects reduced prices of fuel-related goods and services, along with decreased costs of fertilizers, providing support to agricultural production. This will provide much-needed relief for people, especially the most vulnerable, who have faced challenges in recent years due to rising food and fuel prices.

    The report highlighted that GFT exports rose by 16.9% year on year in the first half of 2024, rebounding from an 18.6% decline during the same period the previous year. Meanwhile, growth in exports of non-GFT products slowed to 1.3% year on year from 21.2%. Imports of construction materials and equipment surged by 23.3% year on year in the first half of 2024, driven by public infrastructure investment.

    Agriculture is projected to grow by 1.2% in 2024 and 1.3% in 2025. Services are forecast to grow by 5.4% in 2024 before tapering to 5.2% in 2025. This forecast is supported by a 22.7% year on year increase in tourist arrivals in the first half of 2024, reaching 94.8% of the pre-pandemic levels in the first half of 2019.

    Foreign investment inflows continued although they decelerated somewhat to $2 billion by mid-2024, from $2.1 billion during the same period last year. This was supported by growth in nonfinancial sectors. However, investment in the financial sector slowed appreciably due to lower banking profits.

    Potential risks to Cambodia’s economic outlook include weaker growth in major economies like the People’s Republic of China, Europe, and the United States, high private debt, volatile global fuel prices, and severe impact from extreme weather events.

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

    MIL OSI Economics –

    September 29, 2024

  • MIL-OSI China: Lebanon rolls out measures to shelter displaced, secure supplies

    Source: China State Council Information Office

    People fleeing from Lebanon are seen at the Jdeidat Yabous border crossing in the countryside of Damascus, Syria, on Sept. 24, 2024. [Photo/Xinhua]

    Lebanese ministers announced on Tuesday measures to shelter 27,000 displaced persons from southern Lebanon and suspension of educational activities until the end of the week due to ongoing Israeli raids.

    The 27,000 displaced were seeking refuge in 252 shelters, according to Lebanese Environment Minister Nasser Yassin.

    Yassin said in a press conference for the Ministerial Emergency Committee that “the national operations room and the Higher Relief Commission have been activated to secure the basic needs of the displaced.”

    For his part, Minister of Education and Higher Education Abbas Halabi suspended educational activities in the country until the end of this week while demanding that public schools be opened to receive the displaced.

    He said that in current circumstances, the closure of educational and vocational institutions in the governorates of the south, Nabatieh, Bekaa, Baalbek-Hermel, and the southern suburbs will be extended until the end of this week. The suspension of classes in schools and universities in the governorates of Beirut, Mount Lebanon, and North will also be extended, the minister added.

    Worries about food security and fuel shortages have prompted local citizens to stockpile food and fuel products, alarming officials about a potential rapid depletion of the country’s reserve stock.

    In this regard, Minister of Economy and Trade Amin Salam called on the public to rationalize the storage of food and vital commodities.

    “Let the goods be stored for a week or two or even a month and not more, to ensure that the rest of the citizens obtain their need for basic commodities under the current circumstances,” Salam said.

    He noted that the current wheat stock in the local market is adequate for at least two months and assured the public that supplies are being consistently secured.

    Fuel stations also witnessed a great demand in light of the escalation of Israeli raids, prompting Minister of Energy and Water Walid Fayyad to reassure citizens that “the necessary reserves of petroleum derivatives are available in the medium term.”

    Hezbollah and the Israeli army have been exchanging fire across the Lebanon-Israel border since Oct. 8, 2023.

    On Monday, Israel began its most extensive bombardment of Lebanon since 2006, resulting in more than 550 deaths, including civilians, and over 1,800 injuries across the country. The casualty tolls and the intensity of the attacks have caused panic among Lebanese people.

    MIL OSI China News –

    September 29, 2024

  • MIL-OSI USA: News 09/24/2024 Blackburn Probes Big Tech Platforms After Cox Media Group Admits It Listens to Users’ Phone Conversations

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)

    WASHINGTON, D.C. – Today, U.S. Senator Marsha Blackburn (R-Tenn.) sent three letters to the leadership of Cox Media Group and its clients, Google and Meta, following reporting that Cox Media Group admitted to investors that it listens to users’ smartphone microphones using “Active Listening” software.

    According to this reporting, Cox Media Group claimed the company targets advertisements based on phone conversations of potential customers and identified specific clients during a slide deck presentation to investors, including Google and Meta. Both Google and Meta have a troublesome history of ignoring consumer privacy.

    Cox Media Group Admitted It Uses Artificial Intelligence to Listen to Phone Conversations

    “I write today with concerns following recent reporting by the New York Post that Cox Media Group has admitted to investors that it deploys ‘active listening’ software, which uses artificial intelligence to ‘capture real-time intent data by listening to [users] phone conversations.’”

    Reporting Confirms Longstanding Concerns Held by Consumers about Online Privacy

    “Consumers have long expressed concerns about their privacy in the virtual space and how their data is misused. If this reporting is true, it confirms longstanding suspicions by many consumers that technology and media companies are violating their privacy for profit by marketing products that closely reflect key words or phrases from private conversations. It is imperative that consumers have the ability to clearly opt in and out of features that track their behavior and that they are alerted when these features are deployed. I request a copy of the slide deck presented to investors.”

    Blackburn Demands Google and Meta Reveal Extent “Active Listening” Tools Were Deployed on Users

    “I am seeking answers regarding Google’s [and Meta’s] relationship with Cox Media Group, the extent to which, if at all, ‘active listening’ tools were deployed on users, the steps Google [and Meta] [are] taking to investigate the products and services from Cox Media Group used by Google [and on Facebook] and the extent to which those products may have violated any applicable privacy policies or user agreements [and users’ privacy].”

    BACKGROUND:
    • Last year, Google settled a $5 billion lawsuit claiming it “secretly tracked the internet use of millions of people who thought they were doing their browsing privately.” This is not the first time Google has seen legal action for violating consumers’ privacy rights. A search engine with the reach of Google must prioritize the privacy of its users and use diligence when handling their data.
    • In 2019, the Federal Trade Commission (FTC) imposed a $5 billion penalty on Facebook for violating consumers’ privacy. Then-FTC Chairman Joe Simons said of Facebook, “despite repeated promises to its billions of users worldwide that they could control how their personal information is shared, Facebook undermined consumers’ choices.” This long-demonstrated pattern of public reassurances by Meta directly contradicts the company’s record of flagrant disregard for user privacy.

    Click here to view the letter to Meta Platforms Chairman and CEO Mark Zuckerberg.

    Click here to view the letter to Google CEO Sundar Pichai.

    Click here to view the letter to Cox Media Group President and CEO Daniel York.

    MIL OSI USA News –

    September 29, 2024

  • MIL-Evening Report: What are ‘rent tech’ platforms? Action on reining in these exploitative tools is long overdue

    Source: The Conversation (Au and NZ) – By Linda Przhedetsky, PhD Candidate, Faculty of Law, University of Technology Sydney

    Bernard Hermant/Unsplash

    This week the New South Wales government announced it would introduce legislation that ensures renters are offered convenient, fee-free options to pay their rent.

    The announcement is just one of many state and territory reforms that aim to address issues arising from the use of rental technology platforms.

    In recent years these platforms and the landlords who use them have come under fire for intruding on renters’ privacy and charging additional fees. While practices such as “rent bidding” have already been outlawed around Australia, governments are now starting to turn their attention to other harmful practices facilitated by new technologies.

    Action on these issues is long overdue, and there’s much more that needs to be done to ensure rental technology platforms actually benefit consumers.

    An expanding industry

    A wide range of digital technology platforms are used to facilitate the use, trading, operation and management of real estate assets. A well-known example is AirBnb, a technology platform that facilitates short-term rentals by connecting hosts with guests.

    The property technology industry in Australia is rapidly expanding. In 2023, there were more than 478 products, start-ups and established companies ranging from marketing tools to data analytics platforms. This was up from 188 in 2019.

    A portion of these companies make services typically designed to be used by renters, real estate agents or landlords.

    A major selling point of rental technology platforms is that they promise to streamline a range of processes. To renters, these technologies are billed as quick, easy and effective ways to submit property applications, request maintenance or pay rent.

    If designed well, these platforms can certainly offer convenience. But many have expressed dissatisfaction with rental technology businesses that pressure renters to pay for costly background checks, collect too much personal data, or use opaque algorithms to “score” applicants.

    People who struggle to access or use technologies may also find these platforms difficult to use. This makes it harder for them to access an essential service.

    Some 41% of renters report feeling pressured to use a third-party rental technology platform to apply for a property. And 29% say they have opted not to apply for particular rentals because they do not trust rental technology platforms. This suggests that the use of these technologies may sometimes deter, rather than attract, applicants.

    Additional fees

    Over 30% of Australians rent their homes, a figure that continues to grow as people find themselves priced out of home ownership. Rising rents and the overall increase in the cost of living have put many renters under substantial financial pressure.

    With this in mind, it’s concerning that some renters have found themselves with little choice but to use rental technology platforms that charge fees to process rental payments.

    For example, renters using a popular platform called Alio are typically charged between 0.25% to 1.50% to make automated rental payments, depending on the method of payment they use. A rough estimate shows that a household paying the median weekly rent (A$627 per week) on a fortnightly basis might see themselves paying between $81.51 and $489.06 in additional fees each year.

    As required by law, Alio does offer a fee-free option to pay rent. But this option is highly inconvenient: it requires renters to enter their bank details anew every month.

    The fee-free options offered by some other rental technology platforms are equally inconvenient. They include paying rent in cash at the local post office.

    For renters who have been asked to use a rental payment platform, this may mean spending additional time and effort every time they pay their rent to avoid paying additional fees.

    The NSW government already requires lessors to offer fee-free ways to pay rent (similar protections are legislated in other states and territories). However, the key element of this week’s announcement is a commitment to making sure these fee-free methods are actually convenient. This should hopefully close the legislative loophole that is enabling these rental technologies to unfairly profit at renters’ expense.

    While the draft legislation is yet to be seen, these reforms might see renters reverting to tried and tested payment methods such as bank transfers and bypassing rental technology payment platforms altogether.

    Effective enforcement

    Introducing laws that ensure renters have access to convenient, fee-free ways to make rental payments is a no-brainer. The next step is ensuring these laws are enforced effectively.

    To achieve this, the regulator must be well resourced to carry out compliance and enforcement activities that ensure lessors and rental technology businesses comply with these protections.

    Beyond these reforms, there is more work to be done to ensure renters are effectively protected from a range of harms that are created or exacerbated by rental technology platforms.

    Issues such as discrimination and unfair treatment through rental technology platforms warrant further attention.

    The key challenge for governments and regulators is to keep up with technological developments so they can identify and address issues as they arise.

    Linda Przhedetsky is a Board Member at the NSW Tenants’ Union, and is a member of the NSW Fair Trading’s Industry Reference Group on Protecting Renter Information. She receives funding from the Australian Housing and Urban Research Institute.

    – ref. What are ‘rent tech’ platforms? Action on reining in these exploitative tools is long overdue – https://theconversation.com/what-are-rent-tech-platforms-action-on-reining-in-these-exploitative-tools-is-long-overdue-239602

    MIL OSI Analysis – EveningReport.nz –

    September 29, 2024

  • MIL-OSI New Zealand: New Zealand welcomes United Arab Emirates Trade Minister

    Source: New Zealand Government

    United Arab Emirates Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi will visit New Zealand this week, Trade Minister Todd McClay has today announced. 

    “I’m delighted to welcome my colleague and friend, Minister Al Zeyoudi to New Zealand. The UAE is one of our closest partners and a key export destination in the Gulf region, and we are focused on deepening our connections across a range of areas,” Mr McClay says.

    “Two-way trade with the UAE amounts to NZ$1.3 billion per year. We want to grow that figure together.”

    H.E. Al Zeyoudi will arrive in Wellington on 25 September and will have a number of engagements over his three-day visit, including with the Parliamentary and business communities. The visit will also be an opportunity to take forward trade negotiations launched on 7 May 2024. 

    MIL OSI New Zealand News –

    September 29, 2024

  • MIL-OSI China: InnoTrans highlights smart, green solutions

    Source: China State Council Information Office

    A man visits the booth of China Railway during the 2024 International Trade Fair for Transport Technology (InnoTrans 2024) in Berlin, Germany, Sept. 24, 2024. [Photo/Xinhua]

    The 2024 International Trade Fair for Transport Technology, known as InnoTrans, kicked off on Tuesday with a focus on the future of mobility. This year’s event highlights smart transport solutions and low-carbon rail innovations powered by electricity and hydrogen.

    The four-day exhibition has drawn over 2,900 exhibitors from 59 countries and regions. They will showcase the latest products and innovations across 200,000 square meters of exhibition space and 3,500 meters of tracks, covering five segments: railway technology, railway infrastructure, public transport, interiors and tunnel construction.

    InnoTrans 2024 will showcase 226 world premieres, featuring groundbreaking advancements in electric and hydrogen-powered vehicles that are pushing the boundaries of energy efficiency and sustainability, Messe Berlin, the event’s organizer, told Xinhua.

    Innovations in autonomous rail technology, AI-driven solutions, and smart infrastructure systems using IoT and big data will also be in the spotlight, it added.

    Around 200 Chinese companies are participating in the biennial event. The CRRC Corporation Limited, one of the world’s largest vehicle manufacturers, unveiled two of its latest high-tech products: a hydrogen train capable of running up to 200 km per hour and a next-generation autonomous rail rapid transit vehicle, both featuring green and smart innovations.

    Meanwhile, the China State Railway Group is showcasing its high-speed trains capable of reaching speeds of 350 km per hour, along with equipment used for China-Europe freight trains.

    Chinese automaker BYD made its debut at InnoTrans, showcasing a range of electric buses and highlighting its self-developed blade battery and rapid charging systems.

    A man tries his hands on simulated driving of a Fuxing high-speed train at the booth of China Railway during the 2024 International Trade Fair for Transport Technology (InnoTrans 2024) in Berlin, Germany, Sept. 24, 2024. [Photo/Xinhua]

    People view outdoor exhibits at the 2024 International Trade Fair for Transport Technology (InnoTrans 2024) in Berlin, Germany, Sept. 24, 2024. [Photo/Xinhua]

    MIL OSI China News –

    September 29, 2024
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