NewzIntel.com

Category: Trade

  • MIL-OSI Asia-Pac: Woman sentenced to 18 months’ imprisonment for illegally importing and cruelty to endangered turtles (with photos)

    Source: Hong Kong Government special administrative region

         A 45-year-old Chinese woman who smuggled 64 endangered turtles into Hong Kong was convicted and sentenced to 18 months’ imprisonment today (September 27) for violating the Protection of Endangered Species of Animals and Plants Ordinance (Cap. 586) and the Prevention of Cruelty to Animals Ordinance (Cap. 169).

         On January 27, Customs officers intercepted a Chinese female passenger who arrived in Hong Kong from Tokyo at Hong Kong International Airport. Upon inspection, 64 turtles were found in her suitcase. Thirty-seven turtles were wrapped in socks and the remaining 27 were packed into two small plastic boxes. An officer of the Agriculture, Fisheries and Conservation Department (AFCD) attended the scene and confirmed that all turtles (including 61 box turtles (Terrapene spp.) and three spotted turtles (Clemmys guttata)) were Appendix II species listed in the Convention on International Trade in Endangered Species of Wild Fauna and Flora, and are regulated locally under the Protection of Endangered Species of Animals and Plants Ordinance. The woman was arrested at the scene.

         Charges were laid against the woman for breaching the Protection of Endangered Species of Animals and Plants Ordinance and the Prevention of Cruelty to Animals Ordinance for illegally importing species listed under Appendix II of the Protection of Endangered Species of Animals and Plants Ordinance and animal cruelty. She pleaded guilty and was convicted today at the District Court, which meted out a sentence of a total of 18 months behind bars.

         According to the Protection of Endangered Species of Animals and Plants Ordinance, any person importing, exporting or possessing specimens of endangered species not in accordance with the Ordinance commits an offence and will be liable to a maximum fine of $10 million and imprisonment for 10 years upon conviction with the specimens forfeited.

         Also, according to the Prevention of Cruelty to Animals Ordinance, any person who, by wantonly or unreasonably doing or omitting to do any act, causes any unnecessary suffering to any animal commits an offence and will be liable to a maximum fine of $200,000 and imprisonment for three years upon conviction.

         A spokesman for the AFCD stressed, “The Government is committed to protecting endangered species and safeguarding animal welfare. The AFCD will remain vigilant and continue to monitor and combat illegal activities involving endangered species and animal cruelty.”

         Members of the public may call 1823 to report any suspected irregularities to the AFCD and visit the AFCD website: www.cites.hk regarding the control of endangered species in Hong Kong.      

    MIL OSI Asia Pacific News –

  • MIL-OSI New Zealand: Tax Reform – Petition Calls for Capital Gains Tax

    Source: Tax Justice Aotearoa

    27 September 2024 – A petition has been launched today calling on the leaders of all our political parties to consider a capital gains tax in Aotearoa.

    Tax Justice Aotearoa’s petition seeks to level the playing field of the current tax system and highlights the urgent need for more revenue to fund essential services and infrastructure.

    “Our tax system is way out of balance and a capital gains tax (CGT) is a good first step that would help level the playing field between wage earners and those who mainly earn their money through investments,” says Tax Justice Aotearoa chair Glenn Barclay.

    “There has been growing support for a capital gains tax from a range of individuals and organisations in the media in recent weeks and it is timely to give the public of New Zealand the opportunity to express their support too.

    “The additional revenue raised could be used to fund vital services such as education, healthcare and infrastructure and to help address climate change, leading to a better quality of life for all New Zealanders.”

    ActionStation is hosting the petition and Director Kassie Hartendorp agrees it’s time to make capitalgains tax a reality.

    “Just over 72% of the members we talked to support a capital gains tax – including 18% of those people who would benefit from that tax and yet still thought it would have a positive impact.

    “Our country is ready to join many others around the world, and just make it happen.”

    It’s a kaupapa shared across a range of advocacy groups including Child Poverty Action Group (CPAG).

    “We welcome a discussion on capital gains tax, especially this week when the Minister for Child Poverty Reduction rejected a $3 billion proposal from officials that would have kept us on track to achieving the goal of halving child poverty by 2028,” says CPAG Executive Officer Sarita Divis.

    “This is at the same time the government is giving tax cuts of $2.9 billion for landlords, allowing them to deduct interest as an expense and receive tax free capital gains on sales of their houses.  

    “Taxes allow us to do the things we want to do as a nation, like ending child poverty,” Sarita Divis says.

    New Zealand Nurses Organisation (NZNO) also backed the petition.

    “Fairer taxes would support appropriate levels of health funding and better patient outcomes by enabling safe levels of health care professional to patient ratios,” says Anne Daniels, President of the NZ Nurses Organisation.

    Another organisation supporting the petition was the New Zealand Council of Trade Unions.

    “The NZCTU Te Kauae Kaimahi strongly believes that our current tax system isn’t fit for purpose and isn’t delivering the outcomes New Zealanders deserve,” says Craig Renney, NZCTU Economist and Director of Policy.

    “Workers pay tax on every dollar earned, while those who make huge capital gains pay nothing at all.

    “Levelling the playing field through a well-designed CGT would benefit workers, the economy, and the housing market while delivering revenue to invest in underfunded public services.

    “There is a reason why so many other countries have a CGT and continue to do better than Aotearoa,” Craig Renney says.

    It was a message shared by the Public Service Association (PSA).

    “The Public Service Association Te Pūkenga Here Tikanga Mahi believes we need a fairer tax system that helps properly fund public and community services, so that they are there when we need them,” says Kerry Davies, PSA’s national secretary.

    “A capital gains tax should be part of a fair tax system that generates the revenue the Government needs to do its job of looking after all New Zealanders.”  

    Tax Justice Aotearoa calls on all New Zealanders to sign and share the petition to show their support for a fairer and more equitable tax system:

    https://our.actionstation.org.nz/petitions/it-s-time-for-a-capital-gains-tax

    MIL OSI New Zealand News –

  • MIL-OSI Russia: Alexander Novak met with the Executive Vice President, Vice President for Economy, Minister of People’s Power for Oil of Venezuela Delcy Rodriguez

    MILES AXLE Translation. Region: Russian Federation –

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

    Alexander Novak met with the Executive Vice President, Vice President for Economy, Minister of People’s Power for Oil of Venezuela Delcy Rodriguez

    September 27, 2024

    Alexander Novak met with the Executive Vice President, Vice President for Economy, Minister of People’s Power for Oil of Venezuela Delcy Rodriguez

    September 27, 2024

    Alexander Novak met with the Executive Vice President, Vice President for Economy, Minister of People’s Power for Oil of Venezuela Delcy Rodriguez

    September 27, 2024

    Delcy Rodriguez, Executive Vice President, Vice President for Economy, Minister of People’s Power for Oil of Venezuela, in a meeting with Alexander Novak

    September 27, 2024

    Previous news Next news

    Alexander Novak met with the Executive Vice President, Vice President for Economy, Minister of People’s Power for Oil of Venezuela Delcy Rodriguez

    Deputy Prime Minister of the Russian Federation Alexander Novak held a meeting with the Executive Vice President, Vice President for Economy, and Minister of People’s Power for Oil of Venezuela Delcy Rodriguez on the sidelines of the international forum “Russian Energy Week”.

    “Venezuela remains a reliable partner and ally of Russia in Latin America and in the world as a whole. The strategic nature of our relations is based on a mutual desire to build a more just polycentric world order, coincidence of positions on most issues on the global agenda, mutually beneficial cooperation in the trade and economic, credit and financial, investment, cultural and humanitarian spheres,” the Deputy Prime Minister noted.

    The parties discussed cooperation in the oil and gas sectors, including coordination of positions within the Gas Exporting Countries Forum and OPEC, terms of equipment supply for industrial projects in the Venezuelan fuel and energy complex, as well as prospects for implementing joint projects in the non-energy applications of nuclear technologies to solve problems in medicine, agriculture, education and industry as part of expanding cooperation in the peaceful use of nuclear energy. The meeting participants touched upon the topic of promoting trade with settlements in national currencies and issues of financial and credit relations.

    The Deputy Prime Minister emphasized the positive trend in bilateral trade, the volume of which has grown by almost 50% over the past six years. In January-July of this year, Russian-Venezuelan trade turnover increased by 80% compared to the same period last year. The volume of tourist flow from Russia to Margarita Island also increased over this period to 12 thousand people.

    Alexander Novak invited a delegation from Venezuela to participate as guests of honor in the International Export Forum “Made in Russia”, which will be held on October 14, 2024 in Moscow.

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

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

    http://government.ru/nevs/52815/

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

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Union Minister Jyotiraditya M. Scindia leads “North East Trade and Investment Roadshow” in Bengaluru, invites investors to North East

    Source: Government of India

    Posted On: 26 SEP 2024 11:21PM by PIB Delhi

    The Ministry of Development of the North Eastern Region (MDoNER) successfully organised Northeast Trade and Investment Roadshow in Bengaluru today. The event commenced on a highly positive note, captured significant attention and attracted a substantial number of participants. The event was graced by Hon’ble Minister of Communications and MDoNER, Shri Jyotiraditya M. Scindia, along with senior government officials from the Ministry and eight North Eastern States.

     

    Hon’ble Minister Shri Jyotiraditya. M. Scindia while underlining the immense potential of the North Eastern Region, emphasized that the region holds a tremendous future for Viksit Bharat. He highlighted that under the visionary leadership of Hon’ble Prime Minister, North Eastern Region is the focus point of the Government of India, as a result of which various initiatives such as Act East Policy, UNNATI etc. have been taken for the holistic development of the region. Further, continuous efforts are being made by the Government of India toward strengthening connectivity whether it is rail, road, air, waterways and telecommunication. He mentioned that the fund flow to the region has increased tremendously during the last ten years. The region has huge potential in Agriculture, Healthcare, IT& ITeS, Education, Tourism & Hospitality; Energy; Entertainment & Sports. The North East is home to incredible sporting talent, particularly in boxing, archery, and football, with athletes from the region excelling on national and international stages. Government of India aims to promote regional sports leagues to harness this potential. In tourism, each state in the North East is a jewel. The MDoNER is committed to developing world-class infrastructure in the North Eastern Region. He referred that Bengaluru being the silicon valley of India, has lot of opportunities to explore and replicate in the North Eastern Region in the IT & ITeS sector like IT hubs, centers of excellence in emerging technologies, and opportunities in data analytics etc.

     

    Shri Chanchal Kumar, Secretary of MDoNER, addressed the gathering saying all eight states provide unique opportunities under the Hon’ble Prime Minister’s Act East Policy initiative. In the last 10 years, the connectivity in the North Eastern Region has increased manifold. He emphasized that the region has enabling investment ecosystem, which can facilitate the investors. Further, MDoNER as well as the North Eastern States Governments are set to commit for extending necessary support for investing in the region.

     

    Ms. Monalisa Dash, Joint Secretary of MDoNER, in her address on advantage North East and Opportunities for Investment and Trade emphasized that North Eastern Region has rich untapped potential. Over the past decade, the government has successfully completed numerous pending projects, benefiting local communities and millions of people through various schemes/initiatives. She also highlighted the opportunities in the region in various sectors like Education, Healthcare, Tourism, IT&ITes, Energy, Sports etc. She state that MDoNER is dedicated to facilitating investment opportunities and enhancing the region’s investment ecosystem. The Northeast region is confident for growth, with strategic investments, and can emerge as a leader in various sectors, benefiting both the local population and the nation as a whole.

    Government officials from North Eastern States, alongside representatives from FICCI (Industry Partner), and Invest India (Investment Facilitation Partner), shared valuable insights into opportunities across focus sectors. Each state presented comprehensive overviews of their unique investment prospects. The event attracted active participation from multiple leading businesses, highlighting strong interest in the region’s investment landscape.
     

    The North East Region boasts a strategic location with easy access to ASEAN economies, offering lucrative opportunities for businesses. Rapid infrastructure development is underway, with the establishment of new technology hubs and industrial parks, further enhancing business potential of the region.

    As part of this summit, successful roundtable events have taken place with various states, including Assam, Tripura, Mizoram, Meghalaya, Sikkim, and Nagaland. Previous roadshows in Mumbai, Hyderabad, and Kolkata garnered encouraging participation, while the State Seminar at Vibrant Gujarat attracted significant interest from potential investors.

    The Bengaluru Roadshow generated considerable interest from investors. Anticipated as a transformative event, the Roadshow in Bengaluru witnessed several B2G meetings generating potential interest from investors in the North Eastern States of Assam, Arunachal Pradesh, Tripura, Mizoram, Manipur, Meghalaya, Sikkim, and Nagaland.

    *****

    MG/SB/DP

    (Release ID: 2059286) Visitor Counter : 11

    MIL OSI Asia Pacific News –

  • MIL-OSI: Investeringsforeningen Sparinvest – Ophævelse af suspension

    Source: GlobeNewswire (MIL-OSI)

    Under henvisning til Nasdaq Copenhagens regler for udstedere af investeringsbeviser skal ID-Sparinvest, Filial af Sparinvest S.A., Luxembourg hermed på vegne af de berørte afdelinger i Investeringsforeningen Sparinvest offentliggøre, at der igen kan foretages be­regning af indre værdier for de berørte afdelinger. De indre værdier vil blive indberettet til Nasdaq Copenhagen. Suspension af handel med de berørte afdelingerne ophæves hermed.

    De berørte afdelinger fremgår af tabellen nedenfor.

    Fund Name ISIN Order Book Code
    Mix Aktier KL A DK0010014778 SPIMAKLA
    Value Aktier KL A DK0010079631 SPIVAKLA
    Value Emerging Markets KL A DK0010304856 SPIVEMKLA
    INDEX Dow Jones Sustainability World KL DK0010297464 SPIDJWKL
    INDEX Emerging Markets KL DK0060300762 SPIEMIKL
    INDEX Globale Aktier Min. Risiko KL DK0060031847 SPIGLAMRIKL
    INDEX Bæredygtige Japan KL DK0010297977 SPIBJAKL
    Mix Maksimum Risiko KL A DK0061551892 SPIMMRIA
    Bæredygtige Value Aktier KL A DK0061551546 SPIBDVAA
    Mix Lav Risiko KL A DK0060623189 SPIMLRKLA
    Mix Mellem Risiko KL A DK0060623262 SPIMMRKLA
    Mix Høj Risiko KL A DK0060623346 SPIMHRKLA
    Mix Minimum Risiko KL A DK0060914901 SPIMIXMINRISKKLA

    Henvendelser vedrørende nærværende fondsbørsmeddelelse kan rettes til npa.pm@nykredit.dk, cc jna@nykredit.dk.

    Med venlig hilsen

    Dirk Schulze

    The MIL Network –

  • MIL-OSI Africa: Mashatile undertakes working visits to Ireland and the UK

    Source: South Africa News Agency

    Deputy President Paul Mashatile is today undertaking a working visit to Ireland to reinforce South Africa’s historic and warm bilateral relations with the nation. 

    The Deputy President is expected to meet his Irish counterpart, Prime Minister Simon Harris, to reaffirm the strong political and diplomatic ties between the two countries.

    According to the Presidency, South Africa and Ireland established diplomatic relations over 30 years ago and relations between both nations encompass a broad spectrum of cooperation, such as trade and investment, education, science and innovation and gender equality. 

    “Ireland’s developmental programmes have greatly assisted many initiatives in South Africa since 1994, and the partnership continues to this day,” the statement read. 

    During the visit, the Deputy President will participate in the South Africa-Ireland Trade and Investment Round Table with Irish companies that are already invested in or intend to invest in South Africa. 

    He is also expected to deliver remarks at the Irish Tech Challenge South Africa, established to support innovation and entrepreneurship by fostering connections between the South African and Irish tech ecosystems.

    The Deputy President will be accompanied to Ireland by the Deputy Minister of Trade, Industry and Competition Andrew Whitfield. 

    Once he wraps up his Ireland visit, the country’s second-in-command will then proceed to the United Kingdom from Saturday, 29 September to Friday, 4 October 2024. 

    “The visit will focus on showcasing South Africa as an investment destination of choice and strive to identify and create new trade opportunities for South African businesses, especially small and medium enterprises.” 

    The island nation is also one of South Africa’s most significant bilateral partners in the northern hemisphere, particularly in trade, investment, skills development, science, innovation, the Just Energy Transition and tourism, among others. 

    The Deputy President is expected to engage selected investors and trade partners invited in cooperation with economic partners in the United Kingdom and deliver a lecture at School of Oriental and African Studies (SOAS) University in London, focusing on South Africa’s forthcoming Presidency of the G20. 

    “The Deputy President will also pay a courtesy call on the Duke of Edinburgh, and meet the Deputy Prime Minister of the United Kingdom, Angela Rayner.” 

    He will be accompanied by the International Relations and Cooperation Minister Ronald Lamola, Minister in the Presidency responsible for Planning, Monitoring and Evaluation Maropene Ramokgopa, Public Works and Infrastructure Minister Dean Macpherson, Small Business Development Minister Stella Ndabeni Abrahams and some of the Deputy Ministers from various departments. – SAnews.gov.za
     

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Progress update on compensation for postmasters subject to bankruptcy orders

    Source: United Kingdom – Executive Government & Departments

    An update on progress for compensation for postmasters subject to bankruptcy orders who are due compensation for losses suffered as a consequence of the Post Office’s Horizon IT system

    UPDATE 24 April 2023

    We have today written to the Chair of the Post Office Horizon IT Inquiry, Sir Wyn Williams, setting out in further detail the Official Receiver’s position as trustee and how the Insolvency Service has, within the confines of the law, assisted individuals who have been subject to bankruptcy orders.

    Insolvency Service letter to the Chair of the Post Office Horizon IT Inquiry

    ODT, 105 KB

    This file is in an OpenDocument format

    Bankruptcy and its impact on the Horizon IT compensation schemes is complex, therefore, the Official Receiver is contacting the affected former postmasters to help work through their options.

    Details of the compensation schemes and the impact of bankruptcy are set out below.

    Historical Shortfall Scheme

    We have been working closely with the Post Office and the Department for Business and Trade in relation to the claims for compensation from the Post Office, submitted by former bankrupts to the Historical Shortfall Scheme.

    Under this scheme, compensation awarded for personal losses, for example, damage to reputation or distress, do not form part of the bankruptcy estate and will be paid by the Post Office to former postmasters.

    However, elements of the compensation that relate to financial losses, for example those due to loss of earnings, under insolvency law are an asset of the bankruptcy and legally must be realised for the benefit of creditors.

    Therefore, when offers of compensation are made by the Post Office, the Official Receiver’s office has been contacting the former postmasters to discuss the implications of bankruptcy and explain the available options. This includes exploring how to apply for the annulment (cancellation) of the bankruptcy order and access to independent legal advice.

    The Official Receiver, as trustee of the bankruptcy estates, must act in accordance with their statutory duties and distribute realised assets for the benefit of creditors. The Official Receiver is actively engaging with creditors to establish if they wish to pursue their claims in the postmaster bankruptcies and seek a distribution from the compensation awards.

    In the event there is a surplus following the payment of any statutory costs of the bankruptcy and any claims from creditors that wish to receive a distribution from the compensation awards, the funds will be paid to the former bankrupts.

    For those former postmasters who believe they experienced shortfalls related to the Horizon system but have not yet submitted a claim, the Post Office is now accepting eligible late applications into the Scheme. You can find information about eligible late applications on the Scheme website.

    Group Litigation Order Scheme

    In cases where former postmasters were previously subject to a bankruptcy order and are now discharged, neither the interim payment nor any future payments under the scheme are due to the bankruptcy estate. Any compensation will therefore be paid in full to the former postmasters. This position is supported by the court’s decision in Secretary of State for Business and Trade v Mustafa Hassanali Abdulali & Anor).

    We continue to work with the scheme administers, the Department for Business and Trade, to ensure these payments are made in a timely manner to the former postmasters.

    Horizon Convictions Redress Scheme and Overturned Historical Conviction Scheme

    In cases where former postmasters were previously subject to a bankruptcy order and are now discharged, neither the interim payment, nor any future payment for malicious prosecution are due to the bankruptcy estate, and will be paid in full to the former postmasters.

    We continue to work with the schemes’ administers, the Department for Business and Trade, to ensure these payments are made in a timely manner to the former postmasters.

    Updates to this page

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Director bans for husband-and-wife who hired illegal workers at Chinese takeaway

    Source: United Kingdom – Executive Government & Departments

    Five-year bans for couple who employed illegal workers

    • Yu Jian Chen and Yunqin He employed three illegal workers at a Chinese takeaway in the Scottish Highlands 

    • The illegal workers were found during a visit from Immigration Enforcement officials last year 

    • Both Chen and He have been banned as company directors for the next five years 

    A couple who employed three illegal workers at a Chinese takeaway in the Scottish Highlands have been banned as company directors. 

    Yu Jian Chen, 39, and his wife Yunqin He, 38, recruited the workers, who were from China and Malaysia, at The Jade Garden in the village of Bonar Bridge. 

    Immigration Enforcement officials discovered the illegal workers during a raid of the takeaway last year. 

    Dave Magrath, Director of Investigation and Enforcement Services at the Insolvency Service, said: 

    Yu Jian Chen and Yunqin He failed to comply with their statutory obligations by employing three people who did not have the right to work at their takeaway. 

    Employers hiring illegal workers not only defraud the public purse but potentially put some of the most vulnerable people in society at risk of exploitation. 

    We are pleased to be supporting the Home Office with their activities by taking firm action against rogue company directors. 

    Chen and He were directors of The Jade Garden, trading under the company name JG Sutherland Limited, when Immigration Enforcement officials visited the premises in January 2023, finding two Chinese men and a Malaysian woman with no right to work there. 

    Immigration Enforcement fined The Jade Garden £45,000 for the immigration breach, which remains unpaid. 

    Brian Gillespie, the Home Office’s Immigration Compliance Enforcement lead for Scotland, said: 

    Illegal working undercuts honest employers, places vulnerable individuals at risk of exploitation and disadvantages legitimate job seekers.  

    It also impacts public finances as taxes are not paid by these businesses and workers, which is why tracking down unscrupulous employers is so important.  

    We’re pleased to secure these bans following an effective and close working relationship between the Home Office and the Insolvency Service. 

    The Secretary of State for Business and Trade accepted disqualification undertakings from Chen and He, and their five-year bans began on Thursday 19 September. 

    The disqualifications prevent the pair from becoming involved in the promotion, formation or management of a company, without the permission of the court. 

    He resigned as a director of the company five days after the Immigration Enforcement raid. 

    Further information 

    Updates to this page

    Published 27 September 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Traders invited to Derby Market Hall information event

    Source: City of Derby

    Potential traders are invited to find out more about the opportunity to set up in the transformed Derby Market Hall.

    A special event will be held at the Museum of Making on the evening of Tuesday 1 October. The friendly Derby Market Hall team will be on hand to answer any questions traders have about operating from the venue. 

    They’ll have information on costs, what’s included, fit outs, opening hours, events, types of leases, types of units, pop-ups, grants, business support and much more.

    The historic Derby Market Hall is being given a new lease of life to transform this heritage asset into an attractive retail and leisure destination fit for the future. 

    It will bring together the best of the region’s independent shopping, eating, drinking and entertainment when it reopens in Spring 2025.

    The transformed market will offer:

    • A carefully curated mix of traditional and themed stalls, including quality fresh produce
    • Make and trade stalls and creative spaces
    • A cosmopolitan food court and bars
    • Events and pop-up activity

    Traders, entrepreneurs and businesses from across the region are invited to join the vibrant community it will create. It’s fantastic opportunity for both established and up-and-coming businesses to be part of a modern central hub while benefiting from Derby’s rich history and heritage.

    The Derby Market Hall – Small Business Trader Event takes place on Tuesday 1 October from 5:30pm until 7:30pm at the Museum of Making, Silk Mill Lane, Derby DE1 3AF.

    If you would like to attend, please email markets@derby.gov.uk to confirm, including your full name and business name. You can also complete a form to register your interest in becoming a trader.

    For more information on Derby Market Hall, follow on Instagram and subscribe for further updates on the Derby Market Hall website.

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: National Day Fireworks Display to be held at 9pm on October 1 (with photos)

    Source: Hong Kong Government special administrative region

         The National Day Fireworks Display will light up the sky over Victoria Harbour at 9pm on October 1 (Tuesday) to celebrate the 75th anniversary of the founding of the People’s Republic of China.
     
         A total of 31 888 firing shells will be discharged from three barges and six pontoons in an approximately 23-minute extravaganza. The event is co-ordinated by the Culture, Sports and Tourism Bureau, and is sponsored by the Hong Kong Chinese Importers & Exporters’ Association.
     
         The theme for this year’s fireworks display is “Splendid fireworks shining over a prosperous China”. The fireworks display will be divided into eight scenes, each with its own characteristics. Highlights include the first scene, “75th Anniversary of the People’s Republic of China”, which will lift the curtain on the display with images of red five-pointed stars and purple five-petal flowers. The sixth scene, “The Legend of Pandas”, mainly featuring the green colour, shows images of pandas’ favourite food such as bamboo leaves to express the citywide welcome for their arrival. The seventh scene “Auspicious Treasures” showcases different kinds of ring-shaped fireworks, symbolising the strong bonds and perfect harmony among the various ethnic groups in China. The fireworks display will reach its climax in the last scene, “The Magnificent Scenes of China”, with flourishes of “Chinese Red”, “Big Whistle” and “Gorgeous Golden Crown” images showering blessings to all, wishing continued prosperity for the nation and peaceful lives for the people.
     
         To offer audiences a new experience, for the first time a drone session will be staged before the National Day Fireworks Display as a prelude.
    (Note: The staging of the drone session will depend on factors such as weather conditions that night).
     
         The display can be seen from many vantage points on both sides of the harbour including Tsim Sha Tsui, the Mid-Levels, Central, Wan Chai, Causeway Bay and the Hung Hom Bypass.
     
         To present the fireworks display in a more enjoyable way, viewers are invited to tune into Radio Television Hong Kong Radio 4 (FM 97.6 to 98.9) for synchronised music.
     
         To facilitate police implementation of special crowd management measures in the Tsim Sha Tsui area for the fireworks display, both the Hong Kong Museum of Art and the Hong Kong Space Museum will be closed earlier at 6pm on October 1.
     
         Citizens are urged to help keep public areas clean and to show respect for public property. They are also urged to show consideration to others to make the event a safe one.         

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: stockstrends.co: BaFin warns consumers about website

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the website stockstrends.co. According to information available to BaFin, financial and investment services are being provided on this website without the required authorisation.

    The operator of the website is StocksTrends Ltd. It provides business addresses in London, United Kingdom, and the British Virgin Islands.
    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 –

  • MIL-OSI United Kingdom: UN Human Rights Council 57: UK Statement for UN Report on Reprisals

    Source: United Kingdom – Executive Government & Departments

    Interactive Dialogue on the UN Secretary General’s Report on Reprisals. Delivered by the UK’s Human Rights Ambassador, Eleanor Sanders.

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

    Thank you, Mr President, and thank you to the Secretary General for his tireless work to highlight continuing efforts to silence those who cooperate with the UN to defend human rights.

    The UK pays tribute to these courageous individuals.

    This time last year, we highlighted the intimidation and harassment faced by the son of Jimmy Lai, Sebastien, and his international legal team, for their engagement with this Council. We are deeply troubled that such tactics appear to have continued, including death and rape threats and repeated attempts to hack email and bank accounts as set out in this year’s report.

    In Belarus, members of the Congress of Democratic Trade Unions have been detained for advocating for workers’ rights and engaging with the International Labour Organization.  Delegates of the Human Rights Centre Viasna face years in prison for cooperating with UN mechanisms.

    In Vietnam, author and journalist Pham Doan Trang remains in detention for her work to advance human rights, including through her engagement with the UN.

    And in Russia, the authorities have dissolved the NGO “Man and Law” citing its engagement with the UN.

    Mr President, a conservative figure of 300 human rights defenders lost their lives in 2023; what can be done to reduce this terrible toll? 

    Thank you.

    Updates to this page

    Published 27 September 2024

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Alexander Novak held talks with the Secretary General of the Gas Exporting Countries Forum Mohamed Hamel

    MILES AXLE Translation. Region: Russian Federation –

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

    Alexander Novak held talks with the Secretary General of the Gas Exporting Countries Forum Mohamed Hamel

    September 27, 2024

    Alexander Novak held talks with the Secretary General of the Gas Exporting Countries Forum Mohamed Hamel

    September 27, 2024

    Alexander Novak held talks with the Secretary General of the Gas Exporting Countries Forum Mohamed Hamel

    September 27, 2024

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    Alexander Novak held talks with the Secretary General of the Gas Exporting Countries Forum Mohamed Hamel

    Deputy Prime Minister of the Russian Federation Alexander Novak met with Secretary General of the Gas Exporting Countries Forum (GECF) Mohamed Hamel on the sidelines of the international forum “Russian Energy Week”.

    Alexander Novak called the GECF an important platform for comprehensive dialogue in the energy sector and stated Russia’s interest in further increasing the organization’s authority in the gas market, where, in the context of geopolitical pressure, the demand for constructive cooperation is growing.

    The Deputy Prime Minister named cooperation in the scientific and analytical fields, building up technological partnerships in the gas chemical industry, creating a gas development bank and a network of research centers around the world as priority topics for interaction between Russia and the GECF.

    “GECF forecasts a 34% increase in global gas demand by 2050, with the growth drivers being developing countries in the Asia-Pacific region, the Middle East and Africa. GECF should use its potential and accumulated experience to develop the global energy market by providing developing countries with access to financial products, consulting support, and business solutions from the largest market players. Combating underinvestment in the industry should become a key mission of the GECF gas bank, especially in a situation where global development institutions refuse to finance gas projects, promoting only renewable energy sources,” said Alexander Novak.

    The parties emphasized that gas as an environmentally friendly fuel will take a dominant position in the global fuel and energy balance in the next 25 years. This should be facilitated by new instruments for GECF members, in particular the possibility of organizing swap agreements and gas hubs, which will reduce logistics costs in the delivery of raw materials, as well as conclude profitable long-term contracts with gas consumers. The emergence of secure payment mechanisms is necessary, as well as the expansion of cooperation in the field of equipment and technology supplies.

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

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

    http://government.ru/nevs/52816/

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

    MIL OSI Russia News –

  • MIL-OSI: OTC Markets Group Welcomes G Mining Ventures Corp. to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 27, 2024 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced G Mining Ventures Corp. (TSX: GMIN; OTCQX: GMINF), a precious metals mining company, has qualified to trade on the OTCQX® Best Market. G Mining Ventures Corp. upgraded to OTCQX from the Pink® market.

    On April 22, 2024, G Mining TZ Corp. (formerly G Mining Ventures Corp.) (“Former GMIN”), Reunion Gold Corporation (“Reunion Gold”) and Greenheart Gold Inc. (“Greenheart”, and collectively with GMIN and Reunion Gold, the “Parties”), entered into an arrangement agreement under which the Parties agreed to complete a plan of arrangement under Section 192 of the Canada Business Corporations Act (the “Arrangement”). Pursuant to the Arrangement, which closed on July 15, 2024, a newly incorporated successor issuer, G Mining Ventures Corp. (“New GMIN”), now holds and manages the combined business of Former GMIN and Reunion Gold.

    As a result, shares of Former GMIN ceased trading on the OTCQX on July 17, 2024, and New GMIN shares begins trading today on OTCQX under the symbol “GMINF,” in substitution for the Former GMIN shares. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

    “We have seen significant and growing investor interest as our flagship Tocantinzinho Gold Mine in Brazil commenced commercial production in September, the Oko West Project in Guyana delivered a positive Preliminary Economic Assessment, and the acquisition of the CentroGold Project from BHP is targeting completion by Q1 2025. We are very pleased that our graduation to the OTCQX® Best Market will provide enhanced visibility to U.S. investors and help meet the significant interest from U.S. based investors,” commented Louis-Pierre Gignac, President and CEO of G Mining Ventures.

    About G Mining Ventures Corp.
    G Mining Ventures Corp. is a mining company engaged in the acquisition, exploration and development of precious metal projects to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by the Tocantinzinho Gold Project in Brazil and Oko West Project in Guyana, both mining friendly and prospective jurisdictions.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network –

  • MIL-OSI: KCEX Expands Global Crypto Trading Platform with New Reward Center and Daily Futures Trading Competitions

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Sept. 27, 2024 (GLOBE NEWSWIRE) — KCEX, a leading cryptocurrency exchange, has made significant strides in the digital asset trading space by unveiling a suite of new features, including its Reward Center and a Futures Trading Competition. With a commitment to enhancing user engagement and providing a robust platform for traders, KCEX aims to establish itself as a prominent player in the global crypto trading market.

    Enhanced Trading Experience with KCEX: KCEX has quickly risen as a reliable platform for both novice and experienced crypto traders. The platform provides a secure and user-friendly environment, with over 500 cryptocurrencies available for trading, alongside futures and spot trading options. Notably, the exchange integrates advanced charting tools, competitive trading fees, and robust security features, making it a comprehensive destination for traders worldwide.

    KCEX’s transparent fee structure is a standout feature, offering some of the lowest transaction fees in the market. Traders benefit from a 0% fee on spot trades and a dynamic fee structure of 0% maker, 0.02% taker for futures trading, ensuring affordability across diverse trading strategies. Additionally, KCEX offers exceptional liquidity, which is critical for executing trades swiftly and efficiently, minimizing slippage even in volatile markets.

    Futures Trading Competition: One of the most exciting developments from KCEX is the launch of its Daily Futures PNL Trading Competition, aimed at encouraging active trading and rewarding top-performing users. The competition is structured to reward participants based on their daily profit from futures trading activities, offering an opportunity for both professional traders and enthusiasts to showcase their skills.

    The competition has garnered attention for its attractive daily prize pool of $20K, with rewards distributed to top traders based on their performance in futures trading. This event fosters a competitive yet supportive environment, where traders can engage with the platform, test their strategies, and potentially walk away with significant rewards.

    Reward Center – Incentives for Traders: To further incentivize its user base, KCEX has introduced the Reward Center, a centralized hub where traders can access exclusive bonuses and rewards. The Reward Center is designed to offer a variety of incentives for simple tasks, tailored to boost user engagement and satisfaction.

    Security and Compliance: KCEX has placed a strong emphasis on security and regulatory compliance, which are critical factors for users in today’s volatile cryptocurrency market. The platform utilizes advanced security protocols such as two-factor authentication (2FA), multi-signature wallets, and cold storage solutions to safeguard user assets. Moreover, KCEX adheres to strict anti-money laundering (AML) and know your customer (KYC) regulations, ensuring a safe and compliant trading environment for its global user base.

    Global Reach and Community Engagement: With a growing user base across Asia, Europe, and North America, KCEX has positioned itself as a global platform. Its multilingual support and localized services cater to a diverse range of users, enhancing accessibility. Additionally, KCEX engages actively with its community through social media, offering regular updates, educational content, and market insights, which help traders make informed decisions.

    The exchange’s customer support services have also been highly rated for their responsiveness and efficiency, ensuring that users receive timely assistance with any technical or trading-related issues.

    Future Plans and Roadmap: Looking ahead, KCEX aims to continue expanding its product offerings and global footprint. The platform is exploring the integration of new blockchain technologies and DeFi (Decentralized Finance) features to enhance the trading experience further.

    Conclusion: KCEX’s new features, including the Daily Futures PNL Trading Competition and Reward Center, underscore the platform’s commitment to providing a comprehensive and rewarding trading experience for users. As the cryptocurrency market continues to evolve, KCEX is well-positioned to remain a key player, offering innovative solutions, robust security, and a user-centric approach to trading.

    For more information:

    Web: www.kcex.com
    Contact Name: Carl Yang
    Official Email ID: carl@kcex.com

    Disclaimer: This content is provided by “KCEX”. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/bcb219e0-1833-446f-8a41-5682e9db99ed

    https://www.globenewswire.com/NewsRoom/AttachmentNg/4f34302e-2cf9-485e-935a-58a93b980416

    The MIL Network –

  • MIL-OSI United Kingdom: Stadium decision confirmed

    Source: City of Salford

    Salford City Council has confirmed the decision to wholly acquire Salford Community Stadium.

    The decision was confirmed at the council’s Cabinet meeting on Tuesday 24 September. This was following the call-in process and a scrutiny panel on the evening of Monday 23 September.

    Salford City Mayor Paul Dennett said: “This decision has been through all the council’s formal decision-making processes, including pre-decision scrutiny and a further scrutiny panel. We have engaged members from all parties to make the process as open and transparent as possible. 

    “In the local elections in May, completing the purchase of this Community Stadium, as a key part of our Rugby Strategy, was a clear and significant part of our campaign and manifesto, and was democratic endorsed by our residents. 

    “Through sole ownership of the stadium, we are able to safeguard the future of both Sale Sharks and Salford Red Devils, provide amenities for grassroots clubs and shape the regeneration of a key part of the city.”

    You can read more about the stadium decision here: Important day in city’s history as Salford City Council approve acquisition of Salford Community Stadium.

    Share this

    Date published
    Friday 27 September 2024

    Press and media enquiries

    MIL OSI United Kingdom –

  • MIL-OSI USA: UConn Releases Annual Safety Reports

    Source: US State of Connecticut

    UConn is releasing two reports detailing its response to reports of criminal activity, sexual violence, serious on-campus injuries, and other issues it monitors to ensure the safety of its campus communities.

    The first, the Clery Annual Security and Fire Safety Report, is required from all U.S. universities that receive federal financial aid funds. It includes data about certain crimes identified by the Clery Act, including violations of the Violence Against Women Act; arrests and disciplinary referrals for drug and alcohol violations; and hate crimes reported on property that UConn owns or controls, and on public property within or immediately adjacent to campus.

    It also includes a comprehensive overview of safety policies and prevention programs available to UConn’s campus communities. It is compiled by the UConn Division of University Safety.

    The second report, compiled by UConn’s Office of Institutional Equity (OIE), is a state-mandated annual overview in which all Connecticut colleges and universities outline their policies and data on sexual assault, stalking, and intimate partner violence.

    It captures a wider range of data in those categories than the Clery report because the data collected is not limited to incidents reported to have occurred on UConn property, and because it includes incidents reported even in the absence of a UConn connection.

    Some categories listed in the Clery and OIE reports might appear to capture data about the same kinds of crimes and incidents, including some regarding sexual assault and related crimes.

    However, the numbers will differ between the two reports because of the differences in how the incidents are defined, and the locations for which incidents must be captured.

    In addition, some categories listed in the Clery reports and federally required Uniform Crime Reports (UCR) – from which crime rates are calculated – might appear to reflect the same kinds of crimes and incidents. However, the Clery and UCR numbers will also differ because they use different metrics on the populations and places for what is included in each report’s calculations.

    Importantly, some figures involving sexual assault and related crimes may differ because the University prioritizes the wishes of the complainant in whether that person wants an investigation to be pursued. That helps them regain a sense of agency over their circumstances and is part of the process to help them make the journey to survivor.

    The Clery report also includes an appendix with additional data required under Connecticut Public Act 21-184, which directs colleges and universities to report accidents on their campuses that result in serious injuries or deaths.

    It is similar to the proposed federal COREY Act (College Operational Reporting of Emergencies Involving Teens and Young Adults), named for Corey Hausman, a Connecticut native who died of a head injury shortly after a skateboarding accident on his campus as a freshman at the University of Colorado.

    —

    2023 Clery Annual Security and Fire Safety Report

    UConn is posting the report for calendar year 2023 on its website and distributing the link electronically in compliance with federal and state law, and in the interest of informing all enrolled students, faculty, and staff on this important subject.

    The Clery data includes reports from complainants made directly to UConn Police, along with information that comes to the attention of campus officials beyond law enforcement.
    Those officials, known as “campus security authorities,” comprise more than 1,200 people who regularly interact with students in their roles as resident assistants, coaches, faculty advisers, and other on-campus authorities.

    The university has significantly increased training for those officials so that they better understand what they are legally required to report and the proper way to do so. In the case of sexual violence crimes, UConn’s Clery numbers reflect a large amount of input from campus security authorities, along with significant outreach services university-wide to encourage reporting of this traditionally underreported crime.

    Of the eight sexual assaults reported at Storrs in calendar year 2023 – the same number as in 2022 – police received six reports directly from individuals. The rest were reported by campus security authorities, including Residential Life and Student Affairs, to be included in the Clery report.

    UConn takes an expansive view on what is included in the data by counting all sexual assault reports received in a given year, regardless of the level of detail known to the university; regardless of when the assault is reported to have occurred; and even when the report comes from a third party in the absence of a complainant.

    This is an important part of UConn’s commitment to creating and maintaining a campus free from all forms of sexual harassment, sexual violence, relationship violence, and stalking.

    Under a University policy, nearly all UConn employees are “responsible employees” to report sexual assault. Because that policy is specific to UConn and other institutions might take different approaches, comparisons are difficult to make against other universities whose policies are not as robust and whose reporting requirements are not as stringent.

    The University provides information online for all individuals impacted by sexual assault to receive support and file reports, including through its website on sexual violence, relationship violence, and stalking awareness.

    It also launched the UConn InForm site (inform.uconn.edu) to simplify and streamline reporting processes, offering an avenue through which students, faculty, staff and others can more easily locate and use the University’s many resources to report concerns and find support.

    This year’s Clery report reflects a decrease in the number of reports of fondling to three reported to UConn Police in 2023, compared to 11 in the previous year.

    Twelve motor vehicle thefts were reported in 2023 on campus, of which 11 were scooters. Those numbers are similar to 2022 figures, which showed 12 thefts that included nine scooters.

    UConn’s 2023 Clery report also captures data on reports of domestic violence, which is defined differently in Connecticut than in many other states. The 2023 figure of nine events reported is up from seven in 2022.

    Before June 2019, Connecticut’s domestic violence laws afforded protection to any people who lived together, including college roommates in non-romantic relationships, but the law was changed to include two exemptions.

    The first exception clarified that platonic roommates are not subject to mandatory arrest when they are attending higher education and live on campus or in off-campus housing that is owned, managed, or operated by the institution.

    The second exception extends to platonic roommates anywhere who are making payments pursuant to a written or oral rental agreement, also excluding them from mandatory arrest.
    The secondary exception would apply to sororities or fraternities who are owned and operated by individual organizations.

    However, roommates who are in a dating relationship, married, formerly married, related by blood or by marriage, or who have a child in common are still subject to the family violence mandatory arrest laws.

    In reviewing Clery data, it is also vital to understand that the ways in which domestic violence is defined and application of the applicable laws vary from state to state, making comparisons to other states’ institutions invalid.

    For instance, UConn’s domestic violence reporting process captures figures for the number of victims, not the number of incidents. Therefore, if two people involved in one incident both report it separately, the same incident appears twice in the data as two separate offenses if both individuals are the victim of a crime. One overall event can generate two or more statistics.

    University officials promote awareness of UConn’s bystander intervention programs, which help increase awareness of sexual violence on campus and empower students to be effective, proactive bystanders.

    One such program, Protect Our Pack, is presented to all incoming first-year and transfer students at the Storrs and regional campuses during fall orientation as students settle in for the new academic year.

    In addition, UConn Police also offers many initiatives tackling difficult conversations about stalking, intimate partner violence, consent, and effective communications. The programs are offered throughout the year to students at all academic levels.

    Under a state law that went into effect in 2021, UConn’s Clery report includes an appendix reporting serious accidental injuries or deaths that it can identify on its campuses for 2023.

    Those incidents can include, but are not limited to, injuries or deaths that resulted from vehicle collisions, and in which pedestrians were hurt or killed while walking, jogging, bicycling, skateboarding, and similar activities.

    The data must also include injuries and deaths from on-campus slips and/or falls such as tripping at ground level or falling from heights, including off bunk beds; alcohol or drug overdoses; choking or drowning; and other accidental incidents. The UConn Division of University Safety quantifies such incidents by reviewing reports from its police and fire/EMS records, Student Health & Wellness, and other sources.

    UConn also proactively included information this year for the first time that explains the University’s Bias Reporting system and reflects its numbers for the past three years.

    Although none of the incidents met the threshold to be criminally prosecutable as a hate crime, UConn encourages members of its community to report incidents they believe exhibit bias based on race, ethnicity, ancestry, religion, national origin, sexual orientation, gender identity or expression, age, a past or present history of mental disorders, or physical, mental, and intellectual disabilities.

    By encouraging members of the community to report these incidents under the bias protocol, the University can better provide support to people and groups who are affected, and to determine if those who exhibited the behavior – if they can be identified – violated the Student Code of Conduct.

    2023 UConn OIE Report Pursuant to State Statute Section 10a-55m

    In addition to the annual federally mandated Clery report, UConn also submits a yearly report to the General Assembly specifically on sexual violence policies and data.

    Figures in this report exceed those in the Clery data because it captures all incidents disclosed to UConn, regardless of on or off-campus location or the year in which they are reported to have occurred.

    It also includes information on prevention, awareness, and risk reduction programs and campaigns provided in the community throughout the year. This year’s report outlines more than 500 such initiatives, constituting a 23% increase in education and prevention programs.

    The 2023 OIE report indicates that OIE received 118 reports of sexual assault, of which 68 were reported to have occurred during 2023. The University’s definition of sexual assault is broad and can include incidents such as unwanted touching (sexual contact) along with more physically invasive offenses categorized in criminal law.

    The sexual assault disclosure numbers also include reports of incidents from many years ago, including childhood abuse – all of which helps the university provide appropriate, compassionate, and trauma-informed services to students and employees if and whenever they choose to share their experience with the University.

    Among the 118 reports of sexual assault logged in the newest report, 42 of the respondents were identified as being connected to UConn; three of the reports came in anonymously or confidentially; and in nine cases, the complainant chose to participate in a University investigation.

    Those who report an incident can request a University investigation at a later time should they wish, not only at the time they make a report.

    The University takes steps to follow the wishes of the complainant whenever possible and does not investigate unless that individual wants the University to do so. Only in limited circumstances will the University proceed with an investigation against a complainant’s wishes.

    Factors considered within this determination include the age of the complainant, whether there is evidence of a pattern of misconduct, the severity of the misconduct, and whether there is a safety risk to the complainant or the campus community.

    In matters where an investigation does not occur, the University may still take responsive or preventative actions, such as meetings with the alleged respondent and/or additional training and prevention work with impacted communities.

    UConn’s OIE report for 2023 also includes 48 reported incidents of stalking, of which 44 were reported to have occurred in 2023. In 28 of the stalking cases, the respondent was identified as being connected to UConn.

    None of the complainants chose to participate in a university investigation at the time of making the report, but they all retain the right to request an investigation later if they wish.

    A total of 66 cases of intimate partner violence (IPV) were reported, including 63 reported to have occurred in 2023. In 15 of the intimate partner violence cases, the respondent was identified as being connected to UConn; and in one of those cases, the complainant chose to participate in a University investigation.

    As with other categories, those who reported intimate partner violence but chose not to participate in a University investigation can still request one later if they wish.

    In addition to providing data, the OIE report outlined 510 awareness and prevention programs and campaigns during the year. They include the “Protect Our Pack” bystander intervention training provided at new student orientation; UConn’s Violence Against Women Prevention Program (VAWPP) Consent 201 courses; the widespread training provided to employees; and many others.

    In addition to Storrs-specific brochures and programs, the University provides programs and publications tailored to the regional campus communities and UConn Health.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Professor reappointed as UK’s International Education Champion

    Source: United Kingdom – Executive Government & Departments

    Government reappoints Professor Sir Steve Smith as its International Education Champion, supporting the promotion of UK education excellence around the world.

    • Sir Steve will continue to support the government’s international education work
    • His work will promote UK excellence in education around the world
    • Officials will conduct a review of the International Education Strategy

    Sir Steve Smith has been reappointed as the UK Government’s International Education Champion.

    Reappointed by Minister for Exports, Gareth Thomas, and the Skills Minister, The Rt Hon Baroness Smith, Sir Steve’s tenure as International Education Champion (IEC) has been extended for one year from 1 October..

    Under a commitment made in the UK Government’s International Education Strategy, published in 2019, Sir Steve was originally appointed as IEC in June 2020 for a four-year term.

    In his role as IEC, Sir Steve will continue to support the government’s international education work, including engaging with governments around the world and promoting UK excellence and partnerships in all education sub-sectors.

    More widely, with the change in government, officials will conduct a review of the International Education Strategy, which will ensure that it continues to be an effective tool in increasing the value of education exports, promote policy dialogue and reflect the priorities of education stakeholders, businesses and Ministers.

    Sir Steve was previously Vice-Chancellor of University of Exeter for 18 years and brings vast experience to the IEC role, where he has played a pivotal role in developing deep relationships, including at Ministerial level internationally.

    In his role as IEC, he has already supported significant progress across priority countries including:

    • Leading over 500 meetings with stakeholders and 22 visits overseas , which has helped open the door for education exports, now amounting to more than £28bn.
    • Taking forward the relationship with education ministers in particular with Saudi Arabia, to develop the pipeline of opportunities for UK education suppliers relating to the Kingdom’s Vision 2030; and Nigeria, where the UK has co-written the country’s guidelines for Transnational Education, opening up opportunities for UK universities to provide their offer in Nigeria.
    • Leading a delegation of 31 UK higher education institutions to India, where a range of partnership opportunities have been progressed.

    On his re-appointment, Prof. Sir Steve Smith said:

    “I am absolutely delighted to be continuing in my role as the UK’s International Education Champion, working with the government, both at home and overseas, to ensure that the UK makes the very most of international opportunities, across the breadth of the UK’s world-leading education sector.

    “It’s a critical time for the education sector and I look forward to building on the trusting relationships we have with our partners around the world.”

    Exports Minister Gareth Thomas said:

    “The UK is an international powerhouse when it comes to our education services, and I’m very pleased that Sir Steve will be continuing in his role to champion the country around the world.

    “I want to see more UK educators exporting their brilliant services around the world, and promoting our high standards, that’s why Sir Steve’s work is so important.”

    Baroness Smith, Minister for Skills, said:

    “Sir Steve has a wealth of experience in showcasing our brilliant education sector, and I am thrilled that he will continue in this role for a further year.

    “The UK is rightly regarded as an education powerhouse and Sir Steve’s vital work will continue to strengthen that reputation around the world, driving economic growth and boosting our global prestige.”

    Updates to this page

    Published 27 September 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: World Trade Organization: Kazakhstan’s TPR, September 2024. UK Statement

    Source: United Kingdom – Executive Government & Departments 3

    The UK’s Permanent Representative to the WTO and UN in Geneva, Simon Manley, gave a statement during Kazakhstan’s first WTO Trade Policy Review.

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

    1. Thank you very much, Chair. First of all, let me offer a really warm welcome to the Minister and all his team from Astana. Great to have you here. Great to have you back, Ambassador Zanar Aitzhan, really lovely to see you. Let me thank you, Chair, as ever, for your introduction, the WTO Secretariat for your report and, of course, our Ambassador Sophia Boza Martinez, Ambassador and, of course, Professor. Thank you for your presentation this morning.

    2. As this is the first Trade Policy Review since Kazakhstan’s accession 10 years ago, obviously, today, this week, indeed offers a really unique opportunity to reflect upon Kazakhstan’s trade policies over the last decade. And thank you, Minister, for your presentation to kick us off this morning, but also for the role that trade policy has played not just in Kazakhstan’s development, which you explained, but also in this organisation and in our work over the last 10 years.

    3. Chair, I think probably is not a surprise to you or to most of the people in this room, but the UK is a great believer in the virtues and benefits of WTO accession. And I think they’re demonstrated by Kazakhstan’s economic performance over the last 10 years: trade growth from 57% of GDP back in 2017 to 62% last year, Most Favoured Nation tariff decrease from almost 8% in 2016 to 6% now.

    4. During that same period, again, as the Minister related at the beginning, Kazakhstan has faced the shock, political, economic shock of the pandemic, but showed significant broad-based economic resilience. And we think that is, in part, the fruit of being a member of this organization. We particularly recognize the success of the ‘Digital Kazakhstan’ programme, which has facilitated the growth of so many Kazakh SMEs (Small and Medium-Sized Enterprises).

    5. The UK is, again, both the Minister and Sophia mentioned, a strong believer in the Kazakhstan’s economy. We are one of Kazakhstan’s top six investors, with an annual trade turnover of almost £ 3 billion, which reflects, in our view, a strategic partnership which we have nurtured since Kazakhstan’s independence back in 1991. And that partnership stretches across many areas, from business and education to climate and biodiversity and all the way from Astana and the Caspian Sea to the shores of Lake Geneva here in Switzerland.

    6. For instance, Kazakhstan’s national airline Air Astana was successfully floated on the London Stock Exchange earlier this year; British universities, including Coventry and De Montfort, have opened campuses in Kazakhstan and offered dual degree programmes; British companies have made significant investments in flagship oil and gas projects and Kazakhstan’s mining sector. And here in Geneva, we are close partners, not just here in this organization, but also in the Human Rights Council, where we are proud to work with Kazakhstan as an elected member of that body.

    7. We welcome Kazakhstan’s commitment to continue broadening and deepening that bilateral relationship. We look forward to hosting our annual Intergovernmental Commission on Trade and Investment in London this autumn, and that 11th session of the Commission will provide an important opportunity to discuss how we can further strengthen that relationship for the future, with the first meeting since we signed the UK-Kazakhstan Strategic Partnership and Cooperation Agreement.

    8. Our engagement with this Trade Policy Review has been motivated by a desire to build upon that bilateral progress. Kazakhstan’s constructive answers to our Advanced Written Questions, thank you, should provide clarity, and we hope ease trade for UK and Kazakh businesses.

    9. Most of all, Chair, Minister, we’d welcome progress in tackling one key Market Access Barrier that is faced by British businesses, and that is the use of subsidies favouring domestic agricultural machinery over imported “like” machinery. We fully understand the importance of increasing domestic manufacturing for Kazakhstan’s economy, but we do believe that those subsidies negatively impact Kazakhstan’s agricultural sector development, responsible for over 4% of GDP, pricing, we’d argue, the best technology out of the market. We’d also venture to suggest that those subsidies are not compliant with WTO rules. So, going forward, we would really like Kazakhstan to comply with those rules and take steps to modify or eliminate those subsidies.

    10. We would also, I have to say, welcome Kazakhstan’s accession to the Government Procurement Agreement, as it suggested it would do during the WTO accession process. We maintain an offer of bilateral assistance, should you desire to take forward that process of accession.

    11. More generally, let me pay tribute, as so many others have done this morning, to the role that Kazakhstan has played within this organisation since its accession. Minister, you touched on it, as did Sophia, most significantly the pivotal role you played in chairing the MC12 negotiations, even if we were denied the opportunity, sadly, by the Pandemic of a visit to Astana. It was a great privilege to work with Ambassador Aitzhan, who led the charge for the delivery, not just of that Ministerial Conference, but also for the Services paragraph, and it has been a great tribune for services in trade in this organisation as Chair of the Council for Trade in Services in Special Session. Your work is not being left unfinished. We need to push forward with ensuring that we give due recognition in this organization to the rapidly growing global services in trade, which offer such opportunities for countries in both the developed and developing world.

    12. We also welcome Kazakhstan’s participation within a whole range of other plurilateral initiatives, as others have said this morning, including those on Investment Facilitation for Development, E-commerce and Services Domestic Regulation, all really important initiatives which we wish to see brought within the framework of this organisation.

    13. And it would be remiss of me as one of the co-chairs of the Informal Working Group on Trade and Gender, not to mention, as my Ukrainian colleague did, Kazakhstan’s commitment not just to that Working Group, but to the cause of trade and gender equality, particularly through enhancing women’s employment and entrepreneurial skills. So, I would really love Kazakhstan to come to that Working Group to share its experiences in supporting women in trade, including the Business Roadmap 2020-25 initiative, at one of our future meetings.

    14. Finally, let me commend the Minister and is delegation, who had to face the WTO internal deadline of the 30th of August for submitting Advanced Written Questions, coinciding with their most important national holiday, the Constitution Day. I hope that they found time to have their own belated celebrations, if they haven’t done so far. And I hope that, at the end of this week, they will celebrate in style in this fair city.

    Thank you.

    Updates to this page

    Published 27 September 2024

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: SJ engages with legal sector in KL

    Source: Hong Kong Information Services

    Secretary for Justice Paul Lam today promoted Hong Kong’s legal services as he continued a visit to Kuala Lumpur, Malaysia, as part of a tour of Association of Southeast Asian Nations (ASEAN) member states.

     

    Mr Lam met Deputy President of the Associated Chinese Chambers of Commerce & Industry of Malaysia Ng Yih Pyng this morning to learn more about the country’s need for cross-jurisdictional legal services, and briefed him on Hong Kong’s diversified professional services.

     

    He then received a lunch briefing from Chief Executive Officer of Standard Chartered Saadiq Malaysia Bilal Parvaiz, gaining a better understanding of Malaysia’s business landscape and the demand from its financial sector for legal and dispute resolution services.

     

    That was followed by a meeting with Vice-President of the Malaysian Bar Anand Raj, which entailed a discussion about legal co-operation and exchanges between Malaysia and Hong Kong.

     

    Mr Lam also took the opportunity to visit the Malaysian International Mediation Centre, which was launched in January under the auspices of the Malaysian Bar Council.

     

    In addition, he met Chief Executive Officer of the Asian International Arbitration Centre (AIAC) Almalena Sharmila Johan to learn about its provision of institutional support for domestic and international arbitration and other alternative dispute resolution proceedings.

     

    Upon arriving in Kuala Lumpur yesterday afternoon, Mr Lam had a meeting with Attorney General of Malaysia Tan Sri Ahmad Terrirudin bin Mohd Salleh.

     

    He also met representatives from Malaysia’s legal and business sectors at a seminar titled Hong Kong: The Common Law Gateway for Malaysian Businesses to China and Beyond. This was followed by an evening networking reception co-organised by the Department of Justice (DoJ), the Hong Kong Economic & Trade Office in Jakarta and the National Chamber of Commerce & Industry of Malaysia.

     

    Attendees were briefed on various topics, including Hong Kong’s unique advantages under “one country, two systems”, and its latest lawtech services for resolving cross-border disputes.

     

    During the seminar, Mr Lam witnessed the signing of a memorandum of understanding (MoU), facilitated by the DoJ, between the South China International Arbitration Center (HK) and the AIAC, and a supplementary MoU between the eBRAM International Online Dispute Resolution Centre and the AIAC.

     

    Yesterday’s itinerary ended with a dinner meeting between Mr Lam and Malaysia’s Minister in the Prime Minister’s Department Azalina Othman Said.

     

    Mr Lam will conclude his ASEAN tour and return to Hong Kong tomorrow.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Nadero Wealth Management Opens New Tax Consultancy in Jersey

    Source: GlobeNewswire (MIL-OSI)

    CHONGQING, China, Sept. 27, 2024 (GLOBE NEWSWIRE) — Nadero Wealth Management, a leading financial services company based in Chongqing, is proud to announce the opening of its new tax consultancy office in Jersey in a move designed to enhance its international presence and provide comprehensive tax services to clients in the region. This strategic expansion accentuates the company’s commitment to delivering exceptional financial solutions that meet the diverse needs of businesses operating within and beyond the Channel Islands.

    New Office Location and Services Offered

    The new St Helier office offers a wide range of tax-related services, including corporate tax planning, compliance advisory, personal taxation, and cross-border taxation strategies. The highly qualified team has extensive experience in both local and international tax regulations, ensuring that clients receive expert guidance tailored to their specific circumstances.

    Strategic Importance of Jersey

    Jersey is renowned for its robust financial services sector and favorable business environment. As a leading offshore jurisdiction, it provides numerous advantages for companies looking to optimize their tax strategies while ensuring compliance with global standards. By establishing a presence in Jersey, Nadero aims to support local businesses as well as international clients seeking to navigate the complexities of taxation in this unique market.

    Commitment to Client Success

    “We are excited about this new chapter for our company,” said Dennis Zheng, CEO of Nadero. “Our goal is to empower our clients with the knowledge and tools they need to succeed in an increasingly complex global landscape. With our new office in Jersey, we are better positioned than ever to provide personalized service and innovative solutions that drive growth.”

    About Nadero

    Founded in 2010, Nadero Wealth Management has established itself as a trusted global provider of financial services. With a focus on integrity, innovation, and client satisfaction, the company has built a reputation for excellence across various sectors. The opening of the Jersey office marks an important step in its mission to expand while maintaining high standards of service.

    For more information, please contact:
    Sandra Clifford, Chief Operations Officer
    s.clifford@nadero.com
    https://www.nadero.com

    To contact one of Nadero Wealth Management’s Offshore Tax Consultancy Offices, please email tax@nadero.com or visit www.nadero.com/contact-us.

    Disclaimer: This content is provided by the sponsor. The statements, views, and opinions expressed in this column are solely those of the content provider. The information shared in this press release is not a solicitation for investment, nor is it intended as investment, financial, or trading advice. It is strongly recommended that you conduct thorough research and consult with a professional financial advisor before making any investment or trading decisions. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cad54dbb-09ae-4a4a-89b9-25133a6b38bd

    The MIL Network –

  • MIL-OSI: Color Star Technology Announces Pricing of Initial $7.0 Million Tranche of up to $33.0 Million Registered Senior Secured Convertible Notes

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 27, 2024 (GLOBE NEWSWIRE) — Color Star Technology Co., Ltd. (Nasdaq: ADD) (“Color Star” or the “Company”), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, today announced it has entered into securities purchase agreements with certain institutional investors (the “Investors”) to purchase senior secured convertible notes in the aggregate principal amount of $7.6 million (the “First Closing”), having an original issue discount of 8% and a maturity of twelve months from issuance, resulting in net proceeds to the Company of approximately $7,000,000 (the “Convertible Notes”). The Convertible Notes will bear an interest rate of 6.0% per annum and will be convertible 45 days after the date of the First Closing, subject to certain conditions, into Class A Ordinary Shares of the Company (the “Ordinary Shares”) at an initial conversion price equal to the lower of $1.60, or the Alternative Conversion Price, as set forth in the Convertible Notes. This First Closing is expected to occur on or about September 30, 2024, subject to the satisfaction of customary closing conditions.

    Under the terms of the securities purchase agreements, the Convertible Notes will be issued to the Investors, together with registered warrants to purchase up to an aggregate of approximately 2.9 million Ordinary Shares. The warrants to be issued at the First Closing will be exercisable 45 days after issuance, subject to certain conditions (the “Initial Exercise Date”), will expire on the five-year anniversary of the Initial Exercise Date, and will have an exercise price of $1.60 per share and contain certain anti-dilution provisions.
      
    Maxim Group LLC is acting as the sole placement agent in connection with the offering.

    Subject to the satisfaction of certain conditions, the Company and the Investors may mutually agree to the purchase and sale of additional Convertible Notes and accompanying warrants for up to an additional aggregate amount of  $26.0 million. Any additional Convertible Notes and warrants sold will have substantially similar terms to those issued in the First Closing.

    The securities described above are being offered pursuant to a shelf registration statement on Form F-3 (File No. 333-281668), which was declared effective by the United States Securities and Exchange Commission (“SEC”) on August 28, 2024. A prospectus supplement relating to the securities will be filed by the Company with the SEC. Copies of the prospectus supplement relating to the offering, together with the accompanying prospectus, can be obtained at the SEC’s website at www.sec.gov or from Maxim Group LLC, 300 Park Avenue, New York, NY 10022, Attention: Syndicate Department, or via email at syndicate@maximgrp.com or telephone at (212) 895-3500.

    This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

    About Color Star Technology Co., Ltd.

    Color Star Technology Co., Ltd. (Nasdaq: ADD) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries, Color Metaverse Pte. Ltd. and CACM Group NY, Inc. The Company’s online education is provided through its Color World music and entertainment education platform. More information about the Company can be found at www.colorstarinternational.com and www.colorstar.investorroom.com. 

    Forward-Looking Statements

    This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development, including the development of the metaverse project; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market internationally where ADD conducts its business; reputation and brand; the impact of competition and pricing; government regulations; the ability of Color Star to meet NASDAQ listing standards in connection with the consummation of the transaction contemplated therein; and other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission by Color Star. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.

    Contact

    Color Star Investor Relations
    Office Number No. 1003, 9th Floor,
    7 World Trade Center, Suite 4621
    New York NY 10007
    Office: (212) 410-5186
    Email ir@colorstarinternational.com

    The MIL Network –

  • MIL-OSI Banking: BaFin warns consumers about websites westhill-pros.net and kaiser-investrade.com

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The operator of the website westhill-pros.net refers to itself only as “Westhill Pros” without stating the company’s legal form and provides business addresses in Sydney, Australia, in Stockholm, Sweden, and in London, United Kingdom. Responsibility for the website kaiser-investrade.com is claimed by Kaiser Invest Trade, which likewise does not state the company’s legal form. The company claims to be domiciled in London, United Kingdom, without providing a specific business address.

    BaFin has recently become aware of a number of websites with almost identical content and has warned consumers about them. On all of the websites, the following sentence is displayed at the top of the homepage: “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 Global Banks –

  • MIL-OSI United Kingdom: A fiery end to ESA’s Cluster satellite Salsa

    Source: United Kingdom – Executive Government & Departments

    Earlier this month ESA’s satellite ‘Salsa’ landed in the South Pacific. Learn more about how NSpOC tracks re-entries from space using Salsa as a case study.

    An artist’s impression of a Cluster spacecraft breaking apart during reentry. Credit: ESA/David Ducross

    As space becomes increasingly crowded with operational satellites and space debris, monitoring satellite re-entries is crucial for helping to ensure the safety of people and property on Earth.

    The National Space Operations Centre (NSpOC) plays a key role in this effort through our re-entry tracking and early warning capability, which monitors re-entry incidents and where relevant provides warnings to response agencies to minimise any associated risk to the UK or the UK Overseas Territories.

    On 8 September 2024, The European Space Agency (ESA) undertook the safe de-orbit of their Cluster 2 satellite named ‘Salsa’. The spacecraft re-entered at 6.47pm GMT into a designated region in the South Pacific as planned. NSpOC analysts monitored the event, as it does with every re-entry globally, to ensure potential risks to the UK were assessed and addressed. In this article, we’ll explain how our re-entry tracking and early warning capability works, using ESA’s Salsa as a case study, and highlight the key contributions of the satellite to both government operations and academic research.

    NSpOC’s Re-entry Tracking and Warning Capability: Monitoring Re-entries Like Salsa

    NSpOC’s re-entry tracking and warning capability operates 365 days a year and is dedicated to monitoring the re-entry of satellites and other space objects that could pose a risk to the UK and UK Overseas Territories, as well as the re-entry of objects for which the UK holds liability. On average, NSpOC monitors around 40 uncontrolled re-entry incidents per month, warning UK response agencies when there is a risk to the UK or our Overseas Territories.

    How does the capability work?

    As part of our space hazards warning and protection services, NSpOC continuously monitors space objects in orbit, providing early warnings when satellites begin their descent. In the case of uncontrolled re-entries, and semi-controlled re-entries such as ESA’s Salsa, orbital analysts assess the object’s trajectory and predict when and where it will re-enter the atmosphere. This data is shared with response agencies and government departments to ensure preparedness.

    Real-Time Monitoring and Modelling

    36 hours before a re-entry event, NSpOC’s team of orbital analysts start to monitor the object in more detail, using a global network of sensors and data streams which provide information on its path. In uncontrolled re-entry events, data on the last known position of the object as well as its predicted Centre of Impact Window (COIW) is provided by the US   in the form of Tracking and Impact Predictions (TIPs). This TIP is a single point which can come with high levels of uncertainty. To better understand the probability of where, within that window, the event may occur, UK Space Agency analysts run an extra re-entry assessment model using Monte Carlo simulations (see below for an explanation).

    Monte Carlo simulations incorporate additional data sets, for example forecasted atmospheric density over the re-entry period, to allow for more accurate predictions of where surviving objects might land. The model runs 30,000 times with slight adjustments to values for each variable.

    Rather than a single point of re-entry, this results in a probabilistic output of potential re-entry locations; shown visually on a map by red dots, with each red dot representing a potential re-entry location. The denser the collection of red-dots, the greater the likelihood of the object re-entering in that location.

    In the case of ESA’s Salsa satellite, ephemeris (positional data) was provided rather than TIPs and our analysts converted this to a Two-Line Element (TLE) to extract the orbit, and ran the Monte Carlo simulation to produce a visual prediction of re-entry.  

    For Salsa, our analysts closely monitored the descent, predicting that the majority of the satellite would burn up in the atmosphere, with any surviving fragments expected to land in a remote region of the South Pacific – the likely re-entry path is shown via the red dots in the images below, starting 36 hours in advance on Friday 6 September.

    Re-entry map generated by NSpOC analysts on Friday 6 September

    As the time to the re-entry gets closer, more observations on the object are received by global networks. This results in new data which can be input into the Monte Carlo simulation, producing a more accurate assessment of re-entry locations.

    Re-entry map generated by NSpOC analysts on Saturday 7 September

    Final re-entry map generated by NSpOC analysts on Sunday 8 September before the event

    Post-Re-entry Assessment

    After the satellite re-enters, NSpOC conducts a post-event analysis to confirm the re-entry location and assess any potential impact. It is not always possible to receive tracking data confirming the location of a re-entry, but in the case of Salsa, ESA were tracking the re-entry event closely, even with sensors on an aeroplane, to confirm that it re-entered in the South Pacific. 

    The re-entry location is shared with relevant stakeholders to ensure transparency and public safety. In the case of Salsa, the risk to human life and infrastructure on Earth was extremely low because of the semi-controlled nature of the re-entry bringing it down in an unpopulated location.

    Why Monitoring Re-entries is Important

    Whilst risk from re-entering satellites is very low, with the majority of satellites burning up upon re-entry, large objects or those with dense components will survive the re-entry process, posing a risk to wherever the object makes landfall. Since most re-entries are uncontrolled, there is a risk to populated areas and so warning authorities when there is a risk is important for both safety and to ensure we take responsibility for any space debris for which the UK is liable. Each re-entry incident provides valuable data that helps improve our ability to track and monitor future re-entering objects.

    By responsibly managing satellite re-entries, such as ESA’s Salsa, operators can reduce the amount of debris left in orbit, making space safer for future operations. Later this year, NSpOC will launch a new digital service on our Monitor Space Hazards platform, called ‘Track Re-entry Events’, which will provide government users with real-time updates and enhanced analytics for monitoring satellite re-entries. You can find out more about upcoming features on our website.

    Angus Stewart, Joint Head of NSpOC said: “By managing satellite re-entries responsibly, as is the case with this event, operators reduce space debris and make space safer for future missions. Tracking re-entering space objects is a critical mission for the UK National Space Operations Centre”

    The ESA Cluster Salsa Mission: why was it significant?

    Launched as part of the ESA Cluster mission in July 2000, the Salsa satellite provided critical data that advanced our understanding of Earth’s magnetic environment and space weather over its 24-year operational life.

    Salsa’s contributions to space weather research were invaluable. The satellite’s data helped improve predictive models that assist in safeguarding critical infrastructure such as electrical power grids, pipelines, and satellite communications systems. By studying how solar winds and geomagnetic storms interact with Earth’s magnetic field, Salsa provided insights that helped operational teams understand and mitigate the impacts of space weather on essential services.

    Salsa was part of a constellation of four satellites which was crucial because it allowed scientists to gather data from multiple points in space simultaneously, giving researchers a 3D view of Earth’s magnetic environment.

    Met Office Space Weather Manager Simon Machin said: “Cluster has been a key contributor to advancing space weather science in recent decades. By advancing what we know about the near-Earth environment at multiple scales, this mission pushed forward research understanding, which underpins global space weather operations. Cluster’s observations are a unique resource and will continue to provide considerable value in the years to come.”

    Conclusion

    The ESA Cluster 2 Salsa re-entry provides a clear example of how NSpOC monitors re-entries, ensuring the safety of the UK and its Overseas Territories. As satellites continue to play an increasingly important role in both government operations and academic research, NSpOC’s re-entry capability will remain vital to ensuring the safe and responsible use of space for future missions.

    Updates to this page

    Published 27 September 2024

    MIL OSI United Kingdom –

  • MIL-OSI USA: Growing Coffee in the Greater United States

    Source: US Global Legal Monitor

    National Coffee Day falls on September 29, and International Coffee Day a couple of days later on October 1. A staple of American mornings, coffee, a caffeinated beverage cultivated from coffee beans, is brewed from a plant with early cultivation in Africa and the Middle East. Legends of early brews come from as early as 850 AD in Ethiopia. Today, the worldwide trade of coffee is regulated by multiple international treaties. The first International Coffee Agreement (ICA) was adopted by Congress in 1980 (Public Law 96-599) and codified at 19 U.S.C. §§ 1356k. On June 9, 2022, the latest International Coffee Agreement was renewed.

    Arbre du café dessiné en Arabie sur le naturel. 1716. Library of Congress Rare Book and Special Collections Division. https://hdl.loc.gov/loc.pnp/cph.3b36921.

    Federal Law

    Before the International Coffee Agreement, how was the sale of coffee regulated in the United States? The Tariff Act of 1930, also known as the Hawley-Smoot Tariff, (46 Stat. 590) contains a mention of coffee. As of today, California, Hawai’i, and Puerto Rico are the only places in the greater United States where coffee may be commercially cultivated (though California does not have explicit regulations on the trade).

    In the Code of Federal Regulations, 7 CFR Subpart O is exclusively dedicated to coffee as the “raw or unroasted seeds or beans of coffee intended for processing.”

    Hawai’i

    The 2002 Hawaiian Grown Coffee Law (§ 486-120.6) amended chapter 486 (now repealed) of the Hawai’i Revised Statutes to update the language on labels of Hawaiian coffee products. Specifications include the listing of coffees in a blend by weight and region of origin.

    In May 2024, the Hawaiian legislature passed a law (H.B. 2298) that will require all types of coffee beverages containing Hawaiian-grown and processed coffee to contain “no less than fifty-one per cent coffee by weight from the Hawai’i geographic origin.” The law will enter into force July 1, 2027.

    [Trademark registration by G. W. Earhart for Coffea Arabica brand Coffee, Either Green or Roasted]. Apr. 7, 1885. Library of Congress Prints & Photographs Division. https://hdl.loc.gov/loc.pnp/trmk.1t12096.

    Puerto Rico

    “the bush belonging to the Rubiaceae family, Coffea genus, with perennial, coriaceous, single leaves and [opposing] white, aromatic axillary flowers whose fruit is a berry, red, white and yellow in color, that generally contains two seeds from which the beverage known by the same name…” Puerto Rican official definition of coffee. (P.R. Laws tit. 5, § 320.)

    In 1966, a “coffee zone” was developed as an agricultural and industrial project in Puerto Rico (P.R. Laws tit. 5, § 318). In 2019, the Coffee Office of Puerto Rico (la Oficina de Cafés de Puerto Rico) was established as a part of the Department of Agriculture by law (Ley Núm. 78 de 27 de julio de 2019.)

    Section 319 of the Hawley-Smoot Tariff outlines the responsibility of the Puerto Rican legislature to administer tariffs and collect duties on any foreign coffee imported into the territory, and 19 USC § 1319 guarantees duties for any coffee products imported into the territory.

    [Coffee drying, Puerto Rico]. Between 1890 and 1923. Library of Congress Prints & Photographs Division. https://hdl.loc.gov/loc.pnp/cph.3c01300.

    This International Coffee Day, take a moment to consider where in the world your cup of coffee came from. Was it from a domestic farm, or perhaps from the coffee farms of Kenya, another international coffee producer? Either way, enjoy a sip and savor the unique flavor – as we can see from the regulations, different blends are regionally exclusive!

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

    MIL OSI USA News –

  • MIL-OSI Video: WTO explained

    Source: World Trade Organization – WTO (video statements)

    The World Trade Organization’s mission, functions and more, explained by our senior management.

    Featuring: Ngozi Okonjo-Iweala, Angela Ellard, Johanna Hill, Xiangchen Zhang, Jean Marie Paugam.

    Download this video from the WTO website:
    https://www.wto.org/english/res_e/webcas_e/webcas_e.htm

    https://www.youtube.com/watch?v=nuuFfECMt0E

    MIL OSI Video –

  • MIL-OSI: Results for the Period Ended 30 June 2024

    Source: GlobeNewswire (MIL-OSI)

    Octopus Future Generations VCT plc

    Results for the Period Ended 30 June 2024

    Octopus Future Generations VCT plc (‘Future Generations VCT’ or the ‘Company’) is backing businesses that aim to address society’s biggest challenges, providing an opportunity for investors to share in the growth of ambitious, purpose‑driven companies.

    The Company is managed by Octopus AIF Management Limited (the ‘Manager’), who has delegated investment management to Octopus Investments Limited (‘Octopus’ or ‘Portfolio Manager’) via its investment team Octopus Ventures.

    The Company today announces the unaudited financial report for the twelve months ended 30 June 2024.

    Chair’s statement

    Highlights

    • £46.1m in total net assets
    • 86.8p Net Asset Value (NAV) per share
    • 36 portfolio companies 

    I am pleased to present the unaudited financial report and accounts for the Company for the twelve months to 30 June 2024.

    I would like to welcome all new shareholders to the Company. Future Generations VCT invests in exciting early-stage companies which aspire to address current environmental and societal issues.

    The NAV per share at 30 June 2024 was 86.8p, which represents a net decrease of 6.9p per share from 31 December 2023, the latest released NAV. In the twelve months to 30 June 2024, we utilised £8.3 million of our cash resources, including £7.2 million which was invested into 13 new portfolio companies. The cash balance of £17.5 million as at 30 June 2024 represents 37.8% of net assets at that date. The loss made in the period to 30 June 2024 was £4.0 million. This decline is mainly caused by the downward movements in some portfolio company valuations. It is reflective of some company specific performance challenges and the difficult funding conditions in the early stage space. Given the Company is still a new VCT, many of its portfolio companies are at the beginning of their journey and will likely require further funding to succeed, so it is to be expected to see under performance or even failures before any growth in value of companies which are ultimately successful.

    Fundraise
    On 31 January 2024 we launched a new offer to raise up to £15 million, and to date we have raised £3.2 million. The offer will close for new applications on 27 January 2025, or earlier at the Board’s discretion. We would like to take this opportunity to thank all shareholders for their continued support.

    As investors will be aware, the intention is to invest in businesses which meet one of three key themes, which we believe demonstrate good investment prospects as well as having the potential to transform the world we live in for the better.

    VCT qualification
    I am pleased to report that in April 2024, the Company met the requirement for 80% of the Company’s funds to be invested in VCT qualifying holdings by 1 July 2024 (for funds raised up to 30 June 2022). The remainder will be invested in permitted non-VCT qualifying investments or cash.

    In November 2023, a ten-year extension was announced to the ‘sunset clause’ (a retirement date for the VCT scheme), meaning VCT tax reliefs will be available until 5 April 2035. This extension passed through Parliament in February 2024 and on 3 September the Treasury brought into effect the extension through The Finance Act 2024.

    Principal risks and uncertainties
    The Board continues to review the risk environment in which the Company operates on a regular basis. The principal risks as described on pages 32 to 34 of the Annual Report for the year ended 30 June 2023 remain, however there is increased exposure to investment performance and loss of key people These will be reported on in detail in the annual report to 31 December 2024.

    Change to year end
    In 2023, the Board reviewed and approved a proposal to move the Company’s year-end from 30 June to 31 December. This change is largely being driven by operational efficiency gains by aligning year-end periods with other funds with which the Company co-invests. As a result, shareholders will receive an annual report for 31 December 2024 covering an extended 18-month period. After this, the normal cadence of reporting will resume.

    Board of Directors
    As announced in our half-yearly report to 31 December 2023, Ajay Chowdhury was appointed as an independent Non-Executive Director on 1 March 2024. Ajay is a serial entrepreneur, venture capitalist and author, and recently retired from his role as senior partner at the Boston Consulting Group. We look forward to benefitting from his wealth of experience in the early-stage venture ecosystem.

    AGM
    The AGM will take place on 10 December 2024 from 10:00am and will be held at the offices of Octopus Investments Limited, 33 Holborn, London, EC1N 2HT. Full details of the business to be conducted at the AGM are given in the Notice of AGM.

    Shareholders’ views are important, and the Board encourages shareholders to vote on the resolutions within the Notice of AGM using the proxy form, or electronically at www.investorcentre.co.uk/eproxy. The Board has carefully considered the business to be approved at the AGM and recommends shareholders to vote in favour of all the resolutions being proposed, as the Board will be doing.

    Outlook
    The decline in the NAV is disappointing, with some of the portfolio companies struggling to scale, secure customer wins and successfully fundraise meaning they are not achieving the milestones set at the time the Company invested. With companies not able to prove their business models, we will unfortunately see companies fail. The Board is mindful that it is not an unusual outcome for a Company at this stage of its investment life cycle, with any failures likely preceding valuation growth which is expected once the portfolio matures. While the Company continues to add to its portfolio, there is also currently a greater concentration of value in fewer companies, so performance will be more sensitive to valuation movements in the underlying holdings than if the portfolio was larger.

    The decline has been amplified by challenging global economic conditions which have characterised the last few years particularly impacting on growth and early-stage businesses. We are hopeful that there are signs of recovery on the horizon, with the Bank of England cutting interest rates for the first time since 2020 and the conclusion of the UK General Election bringing more political certainty and stability. The exit environment is also starting to show signs of recovery, with Initial Public Offerings (IPOs) having their strongest start to the year since the peak of 2021, bringing renewed optimism in the market1. Together, this gives us some confidence that the challenging environment our portfolio companies are operating in will start to improve, and with diversification across the three investment themes, it should mean the Company is well positioned to generate long-term value for shareholders.

    I would like to conclude by thanking both my Board colleagues and the Octopus team on behalf of all shareholders for their hard work. The Board’s long-term view of early-stage venture capital remains positive, and I am looking forward to seeing what the remainder of the year brings for your Company.

    Helen Sinclair
    Chair
    27 September 2024

    1 Pitchbook, European Venture Report Q2 2024 https://pitchbook.com/news/reports/q2-2024-european-venture-report#:~:text=Our%20Q2%202024%20European%20Venture,most%2Dactive%20vertical%20after%20SaaS.

    Portfolio Manager’s review

    Focus on Future Generations VCT’s investments
    Below is a breakdown of the 36 investments held as at 30 June 2024, showing the proportion and value of the portfolio in each investment theme:

    Proportion by number of portfolio companies in each theme
    Revitalising healthcare: 50%
    Empowering people: 31%
    Building a sustainable planet: 19%

    Value of the portfolio in each theme
    Revitalising healthcare: £12.3m
    Empowering people: £10.4m
    Building a sustainable planet: £5.9m

    Overview of investments
    The Company completed 7 new investments in the six months to 30 June 2024 (comprising a total of £5.2 million) and 2 further investments after the reporting date totalling £0.5 million. More information on three of these businesses can be found below:

    A selection of our completed investments

    Empowering people
    Swiipr
    Swiipr has developed a digital payments platform specifically for the airline industry. The platform enables airlines to instantly compensate passengers in cases of disrupted or cancelled flights, using virtual or pre-paid cards. Swiipr aims to streamline payment processing for airlines and improve the reimbursement experience for affected passengers.

    Building a sustainable planet
    Drift
    Drift Energy is designing sailing vessels and the routing algorithms required to capture deep water wind energy and convert it into onboard hydrogen gas. This would then be transported back to shore using a fully integrated desalination, electrolysis and storage system.

    Revitalising healthcare
    Manual
    Manual is looking to become the go-to global platform to increase healthy lifespan and build a series of direct-to-consumer health brands for high importance, non-critical areas of health. To achieve this, it will provide easy to access advice and medical support for diagnosis, custom treatment plans and holistic care to induce long-term behaviour change.

    Top ten investments

    Portfolio company Cost Valuation at
    30 June 2024    		 Investment theme
    1. Perk Finance, S.L. (t/a* Cobee) £2.6m £3.7m Empowering people
    2. HelloSelf Limited £2.6m £2.6m Revitalising healthcare
    3. Neat SAS £0.8m £2.2m Building a sustainable planet
    4. Infinitopes Ltd £1.6m £1.6m Revitalising healthcare
    5. TYTN Ltd (t/a TitanML) £0.5m £1.5m Building a sustainable planet
    6. Mr & Mrs Oliver Ltd (t/a Skin + Me) £1.0m £1.4m Revitalising healthcare
    7. Apheris AI GmbH £1.2m £1.2m Empowering people
    8. Remofirst, Inc. £1.2m £1.2m Empowering people
    9. Intrinsic Semiconductor Technologies Ltd £0.9m £1.0m Empowering people
    10. Inflow Holdings Inc. £1.0m £1.0m Revitalising healthcare

    * Trading as
      

    Portfolio engagement – D&I and carbon emission measurement
    As part of our strategy, we require portfolio companies to put in place a Diversity and Inclusion policy (D&I) and an Anti-Harassment policy. We also engage with each company to help them understand their greenhouse gas emissions and support them to take action to minimise them. You can see how we are progressing with these goals below, as at the date of this report:

    D&I policy status
    Policy in place: 36
    In progress: 0

    Engaged in monitoring 2023 greenhouse gas emissions
    Signed up: 12
    Introduced: 22
    In progress: 2

    Focus on performance
    The NAV of 86.8p per share at 30 June 2024 represents a decrease of 6.9p per share versus a NAV of 93.7p per share as at 31 December 2023. The decline in valuation over the six-month period has been driven by the downward valuation movements across 13 companies which saw a collective decrease in valuation of £6.5 million. The businesses that contributed most significantly to this were Tympa Health, Pear Bio and Elo Health. In the six months, the Company further invested into Tympa Health as this was the committed second tranche of the original investment case from 2023. During the investment period, Tympa Health over-invested in growth and has now had to make significant cost cuts and changes to senior management whilst running a fundraise process. It has successfully secured an external lead investor, but at a reduced valuation and the Company now sits behind a large preference stack, meaning that other investors get paid back first before the Company would see any returns. Pear Bio has also had to significantly reduced its cash burn but has limited runway and needs to further fundraise, so the valuation has been reduced to reflect this risk. Elo Health has struggled to find a market fit and execute on the investment thesis, so to extend its cash runway it has had to raise an investment round at a reduced valuation. These three valuation movements account for 87.6% of the total decline in the six months.

    Octopus Ventures believes that some of the companies which have seen decreased valuations in the year have the potential to overcome the issues they face and get their growth plans back on track. Octopus Ventures will continue to work with them to help them realise their ambitions. In some cases, if a company is achieving
    its performance milestones, the support offered could include further funding, to ensure a business has the capital it needs to execute on its strategy.

    Conversely, 6 companies saw an increase in valuation in the period, delivering a collective increase in valuation of £2.9 million. These valuation increases reflect businesses which have successfully concluded further funding rounds, grown revenues or met certain important milestones. Notable strong performers in the portfolio include Neat and TitanML, both of which have shown impressive capital efficient growth. These strong performers demonstrate that there are opportunities available for companies to scale.

    At this early stage of the Company’s life cycle, it is to be anticipated that failures will likely precede valuation growth, which takes longer as the portfolio companies have to achieve their agreed milestones and mature.

    The gain on Future Generation’s uninvested cash reserves was £0.9 million in the twelve months to 30 June 2024 (31 December 2023: gain of £0.5 million), driven by returns on money market funds. The Board’s objective for these investments is to generate sufficient returns through the cycle to cover costs, at limited risk to capital.

    Outlook
    We are pleased to report the Company’s first disposal as it was agreed that Cobee (an employee benefits and engagement platform) will be acquired by Pluxee Group as part of its strategic growth plan. The transaction is subject to approval by the Spanish regulatory authorities over the coming months, so we look forward to reporting further after completion has taken place. The transaction is a great result for the Company at such an early point in its investment lifecycle and a good proof point of the investment strategy.

    The decline in NAV over the six-month period is disappointing but attributable to both the stage of the Company and the headwinds the portfolio companies have been facing. We continue to closely monitor the portfolio to ensure support and resources are being directed in the most impactful way, both through Octopus-appointed non-executive directors or monitors on the Boards and our in-house People and Talent team. This team works directly with the portfolio company management teams, offering training and recruitment support to ensure the best talent pool is being explored to help drive success in this more challenging climate.

    We are excited to have the opportunity to continue to scale the Company, support its ambition to make the world a better place for future generations, and hope to deliver attractive returns to shareholders.

    Directors’ responsibilities statement

    The Directors confirm that to the best of their knowledge:

    • the financial statements for the twelve months ended 30 June 2024 have been prepared in accordance with ‘Financial Reporting Standard 104: Interim Financial Reporting’ issued by the Financial Reporting Council;
    • the financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Company;
    • the report includes a fair review of the information required by the Financial Conduct Authority Disclosure Guidance and Transparency Rules, being:
      • we have disclosed an indication of the important events that have occurred during the twelve months of the period and their impact on the set of financial statements;
      • we have disclosed a description of the principal risks and uncertainties for the remaining six months of the period; and
      • we have disclosed a description of related party transactions that have taken place in the twelve months of the current financial period, that may have materially affected the financial position or performance of the Company during that period and any changes in the related party transactions described in the last annual report that could do so.

    By order of the Board

    Helen Sinclair
    Chair
    27 September 2024

    Income statement

      Unaudited Unaudited Audited
      Twelve months to 30 June 2024 Six months to 31 December 2023 Year to 30 June 2023
      Revenue Capital Total Revenue Capital Total Revenue Capital Total
      £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000
    Net loss on valuation of fixed asset
    investments    		 — (3,495) (3,495) — (136) (136) — (6) (6)
    Investment management fees (238) (712) (950) (117) (350) (467) (174) (522) (696)
    Investment income 973 — 973 515 — 515 424 — 424
    Other expenses (535) — (535) (246) — (246) (500) — (500)
    Profit/ (loss) before tax 200 (4,207) (4,007) 152 (486) (334) (250) (528) (778)
    Tax — — — — — — — — —
    Profit/ (loss) after tax 200 (4,207) (4,007) 152 (486) (334) (250) (528) (778)
    Earnings per share – basic and diluted 0.4p (8.4)p (8.0)p 0.3p (1.0)p (0.7)p (0.6)p (1.3)p (1.9)p
    • The ‘Total’ column of this statement is the profit and loss account of Future Generations VCT; the supplementary revenue return and capital return columns have been prepared under guidance published by the Association of Investment Companies.
    • All revenue and capital items in the above statement derive from continuing operations.
    • Future Generations VCT has only one class of business and derives its income from investments made in shares and securities and from bank and money market funds. Future Generations VCT has no other comprehensive income for the period.

    The accompanying notes form an integral part of the financial statements.

    Balance sheet

      Unaudited Unaudited Audited
      As at 30 June 2024 As at 31 December 2023 As at 30 June 2023
      £’000 £’000 £’000 £’000 £’000 £’000
    Fixed asset investments   28,566   26,729   24,895
    Current assets:            
    Applications cash* 153   100   370  
    Debtors 212   240   379  
    Cash at bank 192   107   152  
    Money market funds 17,265   19,998   20,140  
        17,822   20,445   21,041
    Creditors: amounts falling due within one year (256)   (177)   (518)  
    Net current assets   17,566   20,268   20,523
                 
    Net assets   46,132   46,997   45,418
                 
    Share capital   53   50   48
    Share premium   51,177   48,372   46,461
    Capital reserve realised   (1,352)   (990)   (640)
    Capital reserve unrealised   (3,492)   (133)   3
    Revenue reserve   (254)   (302)   (454)
    Total equity shareholders’ funds   46,132   46,997   45,418
    Net asset value per share   86.8p   93.7p   94.3p

    * Cash received from investors but not yet allotted.

    The accompanying notes form an integral part of the financial statements.

    The statements were approved by the Directors and authorised for issue on 27 September 2024 and are signed on their behalf by:

    Helen Sinclair
    Chair
    Company Number: 13750143

    Statement of changes in equity

      Share capital £’000 Share premium £’000 Capital reserve realised
    £’000    		 Capital reserve unrealised
    £’000    		 Revenue reserve
    £’000    		 Total
    £’000
    As at 1 July 2023 48 46,461 (640) 3 (454) 45,418
    Comprehensive income for the year:            
    Management fees allocated as capital expenditure — — (712) — — (712)
    Net loss on fair value of fixed asset investments — — — (3,495) — (3,495)
    Profit after tax — — — — 200 200
    Total comprehensive income for the year — — (712) (3,495) 200 (4,007)
    Contributions by and distributions to owners:            
    Shares issued 5 4,814 — — — 4,819
    Share issue costs — (98) — — — (98)
    Total contributions by and distributions to owners 5 4,716 — — — 4,721
    Balance as at 30 June 2024 53 51,177 (1,352) (3,492) (254) 46,132

    The accompanying notes form an integral part of the financial statements.

      Share capital £’000 Share premium £’000 Capital reserve realised
    £’000    		 Capital reserve unrealised
    £’000    		 Revenue reserve
    £’000    		 Total
    £’000
    As at 1 July 2023 48 46,461 (640) 3 (454) 45,418
    Comprehensive income for the year:            
    Management fees allocated as capital expenditure — — (350) — — (350)
    Net loss on fair value of fixed asset investments — — — (136) — (136)
    Profit after tax — — — — 152 152
    Total comprehensive income for the year — — (350) (136) 152 (334)
    Contributions by and distributions to owners:            
    Shares issued 2 1,971 — — — 1,973
    Share issue costs — (60) — — — (60)
    Total contributions by and distributions to owners 2 1,911 — — — 1,913
    Balance as at 31 December 2023 50 48,372 (990) (133) (302) 46,997

    The accompanying notes form an integral part of the financial statements.

      Share capital £’000 Share premium £’000 Capital reserve realised
    £’000    		 Capital reserve unrealised
    £’000    		 Revenue reserve
    £’000    		 Total
    £’000
    As at 1 July 2022 33 31,572 (118) 9 (204) 31,292
    Comprehensive income for the year:            
    Management fees allocated as capital expenditure — — (522) — — (522)
    Net loss on fair value of fixed asset investments — — — (6) — (6)
    Loss after tax — — — — (250) (250)
    Total comprehensive income for the year — — (522) (6) (250) (778)
    Contributions by and distributions to owners:            
    Shares issued 15 15,164 — — — 15,179
    Share issue costs — (275) — — — (275)
    Total contributions by and distributions to owners 15 14,889 — — — 14,904
    Balance as at 30 June 2023 48 46,461 (640) 3 (454) 45,418

    The accompanying notes form an integral part of the financial statements.

    Cash flow statement

      Unaudited Unaudited Audited
      Twelve months to Six months
    to    		 Year
    to
      30 June 31 December 30 June
      2024 2023 2023
      £’000 £’000 £’000
    Cash flows from operating activities      
    Loss before tax (4,007) (334) (778)
    Loss on valuation of fixed asset investments 3,495 136 6
    Decrease/(increase) in debtors 167 138 (103)
    Decrease in creditors (45) (71) (325)
    Outflow from operating activities (390) (131) (1,200)
    Cash flows from investing activities      
    Purchase of fixed asset investments (7,166) (1,970) (23,238)
    Outflow from investing activities (7,166) (1,970) (23,238)
    Cash flows from financing activities      
    Application account inflow 4,602 1,685 13,634
    Application account outflow
    Proceed from share issues    		 (4,819)
    4,819    		 (1,955)
    1,955    		 (15,179)
    15,179
    Share issue costs (98) (41) (275)
    Inflow from financing activities 4,504 1,644 13,359
    Decrease in cash and cash equivalents (3,052) (456) (11,079)
    Opening cash and cash equivalents 20,662 20,662 31,741
    Closing cash and cash equivalents 17,610 20,206 20,662
    Cash and cash equivalents comprise      
    Money Market Funds 17,265 19,998 20,140
    Cash at Bank
    Applications cash    		 192
    153    		 107
            100    		 152
    370
    Closing cash and cash equivalents 17,610 20,205 20,662

    The accompanying notes form an integral part of the financial statements.

    Condensed notes to the financial report

    1. Basis of preparation
    The unaudited results which cover the twelve months to 30 June 2024 have been prepared in accordance with the Financial Reporting Council’s (FRC) Financial Reporting Standard 104 Interim Financial Reporting (January 2022) and the Statement of Recommended Practice (SORP) for Investment Companies re-issued by the Association of Investment Companies in July 2022.

    The Directors consider it appropriate to adopt the going concern basis of accounting. The Directors have not identified any material uncertainties to the Company’s ability to continue to adopt the going concern basis over a period of at least twelve months from the date of approval of the financial statements. In reaching this conclusion, the Directors have taken into account the potential impact on the economy including inflation and the recession.

    The principal accounting policies have remained unchanged from those set out in the Company’s 2023 Annual Report and Accounts.

    2. Publication of non-statutory accounts
    The unaudited financial report for the twelve months ended 30 June 2024 does not constitute Statutory Accounts within the meaning of s.415 of the Companies Act 2006 and has not been delivered to the Registrar of Companies. The comparative figures for the year ended 30 June 2023 have been extracted from the audited financial statements for that year, which have been delivered to the Registrar of Companies. The independent auditor’s report on those financial statements, in accordance with Chapter 3, Part 16 of the Companies Act 2006, was unqualified. This financial report has not been reviewed by the Company’s auditor.

    3. Earnings per share
    The loss per share is based on 50,107,452 Ordinary shares (30 June 2023: 40,987,288, 31 December 2023: 48,725,532) being the weighted average number of shares in issue during the period. There are no potentially dilutive capital instruments in issue and so no diluted returns per share figures are relevant. The basic and diluted earnings per share are therefore identical.

    4. Net asset value per share

      30 June 2024 31 December 2023 30 June 2023
    Net assets (£’000) 46,132 46,997 45,418
    Shares in issue 53,160,670 50,165,822 48,138,337
    Net asset value per share (p) 86.8 93.7 94.3

    5. Allotments
    During the twelve months to 30 June 2024, 5,022,333 shares were issued at a weighted average price of 95.2p (30 June 2023: 15,569,169 shares at a weighted average price of 98.6p, 31 December 2023: 2,027,485 shares at a weighted average price of 97.3p per share).

    6. Transactions with the Manager and Portfolio Manager
    Future Generations VCT is classified as a full-scope Alternative Investment Fund (AIF) under the Alternative Investment Fund Management Directive (the ‘AIFM Directive’). Future Generations VCT has appointed Octopus AIF Management Limited to provide the services of an Alternative Investment Fund Manager (AIFM) of a full scope AIF. In accordance with its power to do so under AIFMD, Octopus AIF Management Limited has delegated portfolio management to Octopus Investments Limited, whilst retaining the obligations of a risk manager.

    Future Generations VCT paid Octopus AIF Management Limited £950,000 in the period as a management fee (30 June 2023: £696,000, 31 December 2023: £467,000). The annual management charge (AMC) is based on 2% of Future Generations VCT’s NAV. The AMC is payable quarterly in advance and calculated using the latest published NAV of Future Generations VCT and the number of shares in issue at each quarter end. Once the quarter has ended, an adjustment will be made if the NAV at the end of the current quarter is calculated and which differs from the NAV as at the end of the previous quarter.

    Octopus also provides Non-Investment Services to Future Generations VCT, payable quarterly in advance. The fee is 0.3% of Future Generations VCT’s NAV, calculated at quarterly intervals. The Non-Investment Services Agreement (NISA) fee is calculated using the latest published NAV of Future Generations VCT and the number of shares in issue at each quarter end. As with the AMC, an adjustment will be made once the quarter has ended if the NAV at the end of the current quarter is calculated and which differs from the NAV as at the end of the previous quarter. During the period £143,000 was paid to Octopus for Non-Investment Services (30 June 2023: £122,000, 31 December 2023: £70,000).

    In addition, Octopus is entitled to performance-related incentive fees, subject to Future Generations VCT’s total return at year end exceeding the total return at the previous year end when an incentive fee was paid or 97p if the first incentive fee has not yet been paid (the ‘Excess’), equal to 20% of the Excess. Future Generations VCT’s total return at year end exceeded the total return at the previous year end when an incentive fee was paid or 97p if the first incentive fee has not yet been paid (the ‘Excess’), equal to 20% of the Excess. No performance fee will be paid prior to the financial period ending 30 June 2025, dividends (paid or declared) being equal to or greater than 10p per Ordinary share and the total return exceeding 120p.

    The cap relating to Future Generations VCT’s total expense ratio, that is the regular, recurring costs of Future Generations VCT expressed as a percentage of its NAV, above which Octopus have agreed to pay, is 3.0%, and is calculated in accordance with the AIC Guidelines.

    7. Related party transactions
    Several members of the Octopus investment team hold non-executive directorships as part of their monitoring roles in Future Generations VCT’s portfolio companies, but they have no controlling interests in those companies.

    Emma Davies, a former Non-Executive Director of Future Generations VCT, previously held the role of co-CEO of Octopus Ventures. On 24 March 2023, Emma Davies ceased to be employed by Octopus Capital Limited and therefore she is no longer considered a related party. Emma retired as a Non-Executive Director of Future Generations VCT on 31 March 2024.

    No dividends have been paid to the Directors of Future Generations VCT.

    8. Voting rights and equity management
    The following table shows the percentage voting rights held by Future Generations VCT in each of the top ten investments, on a fully diluted basis.
                                                            

     

    Investments

    		 30 June 2024
    % voting rights held by
    Future Generations VCT
    Perk Finance, S.L. t/a Cobee 2.8%
    HelloSelf Limited 4.1%
    Neat SAS 3.2%
    Infinitopes Ltd 4.4%
    TYTN Ltd (t/a TitanML) 4.2%
    Mr & Mrs Oliver Ltd (t/a Skin + Me) 0.6%
    Apheris AI GmbH 3.2%
    Remofirst, Inc. 1.4%
    Intrinsic Semiconductor Technologies Ltd 5.1%
    Inflow Holdings Inc. 1.9%

    9. Post balance sheet events
    The following events occurred between the balance sheet date and the signing of this financial report:
    ● 2 new investments completed totalling £0.5 million.
      

    10. Financial Report
    The unaudited results which cover the twelve months to 30 June 2024 will shortly be available to view at https://octopusinvestments.com/our-products/venture-capital-trusts/octopus-future-generations-vct/ . 
    A copy of the report will be submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

    For further information please contact:

    Rachel Peat  
    Octopus Company Secretarial Services Limited
    Tel: +44 (0)80 0316 2067

    LEI: 213800AL71Z7N2O58N66

    The MIL Network –

  • MIL-OSI USA: Guthrie, Newhouse, and Fulcher Introduce Bill to Secure America’s Midstream Critical Materials Supply Chain

    Source: United States House of Representatives – Congressman Brett Guthrie (2nd District Kentucky)

    WASHINGTON, D.C. – Congressman Brett Guthrie (KY-02), a senior member of the House Energy & Commerce Committee, Congressman Dan Newhouse (WA-04), and Congressman Russ Fulcher (ID-01) released the following statements after introducing the Securing America’s Midstream Critical Materials Processing Act, which will establish a National Roadmap to provide a pathway to reshore domestic critical material processing facilities away from foreign adversaries like the Chinese Communist Party (CCP) and reduce unworkable permitting barriers to help secure our supply chains. Midstream critical material processors are essential to America’s manufacturing and energy future:

    “Today I was proud to introduce the Securing America’s Midstream Critical Materials Processing Act alongside Congressmen Newhouse and Fulcher to help ensure America has control over its manufacturing and energy future. For too long our nation has been reliant on the CCP and other foreign adversaries for the essential facilities to process critical materials into usable resources for our manufacturing industry. This bill will help provide a pathway to reshoring the processing of critical materials and uncovers the extent to which the CCP has exploited this supply chain. If our nation is to become energy independent once again, secure our supply chains, and reshore job creating industries then we must produce and process our critical materials here at home, I am proud to be leading this bill that will help accomplish this,” said Congressman Guthrie.

    “It is no secret the United States is in a dangerous position with our reliance on adversaries like the CCP for the critical minerals we use in everything from our energy sector to our defense industrial base. This bill is a big step towards bringing critical mineral processing back to our shores and keeping bad actors out of our supply chains. As a member of the House Select Committee on the CCP, I know we as lawmakers need to be doing all we can to prioritize national security before it is too late.” said Congressman Newhouse.

    “Critical minerals are not only vital to America’s energy supply, but to our national security as they are a key component for defense technologies and weaponry. I am proud to introduce this bill alongside Congressman Guthrie and Newhouse to establish a national roadmap to bring the development and processing of key minerals back to the USA. Securing America’s energy independence starts with securing our critical minerals supply chain,” said Congressman Fulcher.

    Background

    • The Securing America’s Midstream Critical Material Processing Act will establish a Dept. of Energy led National Roadmap to reshore domestic critical material processing industry, which will include a comprehensive review of:
      • Current landscape of domestic and global markets for midstream critical material processing
      • The extent to which China and other adversaries employ anti-competitive practices to manipulate critical material markets
      • Opportunities and barriers to reshoring domestic industries, including working alongside allied nations
      • Permitting challenges facing a domestic critical material processing industry
    • This bill requires a Government Accountability Office (GAO) study on how to improve federal permitting to incentivize more investment including:
      • How the Inflation Reduction Act may have fueled Chinese greenfield investment in Free Trade Agreement countries
      • How EPA regulations and litigation raise costs on facilities
      • Ways to improve federal collaboration and coordination to leverage expertise in critical material processing

    ###

    MIL OSI USA News –

  • MIL-OSI Translation: Ministers LeBlanc and Anand announce trucking pilot project to improve movement of goods

    MIL OSI Translation. Canadian French to English –

    Source: Government of Canada – in French 1

    Ministers LeBlanc and Anand announce trucking pilot project to improve freight flow

    Charlottetown, Prince Edward Island, September 26, 2024 – Today, at the Internal Trade Committee meeting, the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs, and the Honourable Anita Anand, President of the Treasury Board and Minister of Transport, announced the launch of a pilot project on the mutual recognition of regulatory requirements in the trucking sector.

    Ministers thanked the coalition of provinces and territories supporting this initiative: Ontario, Nova Scotia, Manitoba, Prince Edward Island, Saskatchewan, Alberta, Newfoundland and Labrador, Northwest Territories, Yukon and Nunavut, for their contribution to improving the efficient movement of goods – a critical aspect of productivity and affordability in Canada. The pilot project will be co-chaired by Newfoundland and Labrador and Canada.

    Mutual recognition agreements in key sectors, such as transportation and trucking, have the potential to boost productivity and economic growth in Canada. Experts predict that adopting mutual recognition as a means of reducing internal trade barriers could grow the Canadian economy by $200 billion per year.

    Under this new trucking pilot, participating provinces and territories will commit to recognizing each other’s regulatory requirements, even if there are differences, such as requirements for oversized vehicle signage, to allow trucks and the goods they carry to move efficiently across Canada without compromising safety measures. The pilot, the first of its kind on this scale in Canada, will help governments test and determine what can be achieved through mutual recognition and will spur future work on other important areas of the economy, such as labour mobility.

    Today’s announcement is an important first step toward the broad national adoption of mutual recognition and builds on the Government of Canada’s leadership and actions to liberalize trade and boost Canada’s economic productivity.

    Thanks to federal leadership, including Federal action plan to strengthen trade Interior, the Government of Canada has done the following:

    Establishment of the Canadian Centre for Internal Trade Data and Information, which provides open and accessible information on internal trade and trade barriers in critical economic sectors;
    Removal and reduction of 1/3 of federal exceptions under the Canadian Free Trade Agreement, providing Canadian businesses with more opportunities to compete across the country; Strengthening regulatory cooperation through the harmonization of building codes and energy efficiency regulations and the exemption of redundant requirements for oil platforms; Funding for thedevelopment of a national register of doctors, led by the Medical Council of Canada, a fundamental measure that will promote labour mobility among physicians; Revising the Red Tape Reduction Act and imposing a requirement that the “One-for-One” Rule limit the administrative burden on business and take into account the reduction in burden resulting from regulatory cooperation between the Government of Canada and other jurisdictions; Advancing regulatory cooperation through the Regulatory Cooperation Council (a Canada-U.S. body) and the Regulatory Reconciliation and Cooperation Table (a federal-provincial-territorial body) to reduce regulatory barriers to trade and make it easier for businesses to operate across jurisdictions; and Organizing regional roundtables in Canada and the United States to better understand the regulatory issues facing businesses in domestic and international trade.

    In addition, as announced in August 2024, the Treasury Board of Canada is establishing a task force to examine Canadian public sector productivity and inform the government’s economic plan. The task force will be comprised of a range of experts from academia, think tanks, the private sector, the public sector, and will work with unions. It will examine the delivery of services to Canadians and the role of technology in reducing barriers to increasing the productivity of Canadians and businesses. The terms of reference for the task force will be finalized and made public in the coming weeks.

    Contacts For further information (media only), please contact:

    Gabriel Brunet Press SecretaryOffice of the Honourable Dominic LeBlancMinister of Public Safety, Democratic Institutions and Intergovernmental Affairs819-665-6527gabriel.brunet@iga-aig.gc.ca

    Myah Tomasi Press SecretaryOffice of the President of the Treasury Board of Canada343-543-7210myah.tomasi@tbs-sct.gc.ca

    Media Relations Privy Council Office613-957-5420media@pco-bcp.gc.ca

    Treasury Board of Canada Secretariat613-369-9400Toll-free: 1-855-TBS-9-SCT (1-855-827-9728)media@tbs-sct.gc.ca

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

    MIL Translation OSI