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  • MIL-OSI Europe: ASIA/MYANMAR – Cardinal Bo calls for reconciliation at the Shrine of Our Lady of Lourdes in Nyaungbelin

    Source: Agenzia Fides – MIL OSI

    Archdiocese Yangon

    Yangon (Agenzia Fides) – “Inspired by Mary, we pray that the warring parties in Myanmar may come together at the Marian Shrine of Nyaunglebin. May this sacred place become a refuge of peace and reconciliation, where enemies embrace one another as brothers and sisters in Christ”, said Cardinal Charles Maung Bo, Archbishop of Yangon, in his address to the faithful who had come to Nyaungbelin, in the Bago region of the Archdiocese of Yangon, for the Jubilee pilgrimage. At the shrine dedicated to Our Lady of Lourdes, in an area where sporadic clashes between opposition forces and the Burmese army have occurred, more than three thousand faithful, three bishops, numerous priests and religious, as well as Buddhist, Muslim and Hindu believers gathered for the pilgrimage on February 9, asking for Our Lady’s intercession for peace in Myanmar and in the world.”In this holy land, countless pilgrims have sought consolation, healing and the tender intercession of Our Lady of Lourdes. As we gather on this blessed feast day, let our hearts swell with gratitude for the boundless love of our Blessed Mother and let us open ourselves to the wonders that faith can reveal”, the Cardinal said in his homily at the Eucharist in the shrine. In every pregnant mother in the refugee camps spread across the country and hosting more than 3.8 million people, “we see the face of a Mary on the way to Bethlehem, looking for a safe place to give birth to her child,” the Cardinal said. The courage of Burmese women, he added, “reflects Mary’s serenity in the midst of chaos and reminds us that peace is not the absence of adversity but the presence of God within.”The Cardinal recalled the importance of peace, reconciliation and forgiveness, recalling Mary as the “Mother of Peace” in Myanmar, which is plagued by unrest and conflict. “Her unwavering acceptance of God’s will invites us to cultivate inner peace and become messengers of peace in our troubled world,” he said.In “Mary, the Mother of Reconciliation,” he continued, “we find the strength to overcome divisions, heal broken relationships and unite in faith and love.” In a world torn by political, cultural or religious divisions, Mary calls us to be bridge builders,” he noted, urging everyone to ‘reconcile with those we consider enemies’ and ‘seek unity where there is discord’. “Mary,” he added, “in her deep sorrow did not give in to hatred or despair. She embodied the essence of forgiveness, reflecting the words of Jesus: ‘Father, forgive them, for they know not what they do’ (Luke 23:34). Mary’s ability to forgive in the face of unimaginable suffering teaches us that forgiveness is a divine act of love that liberates both the giver and the receiver.”The Cardinal concluded by recalling that Mary is also venerated in the Koran. “This shared admiration,” he said, “invites us to interreligious dialogue and mutual respect, recognizing that Mary’s virtues are universal: she is the mother of us all,” stressing in this context that “Mary’s loving intercession can heal even the deepest wounds.”The Archbishop of Yangon expressed the hope that in the nation “the divisions of war will give way to the unity of peace, in which all people can live in harmony and in which Mary will guide our steps towards a lasting peace.” He called on the faithful “to actively seek to heal divisions as mediators of reconciliation” and “to practice forgiveness by freeing themselves from the grip of past injustices.” All are called to “support displaced families,” to “participate in interreligious efforts” to “support human rights and justice,” so that the baptized in the Jubilee Year become “beacons of hope, channels of God’s peace and messengers of his infinite mercy.” “May Mary, Mother of God, help us to create peace and harmony throughout the world, especially in Myanmar,” Cardinal Bo concluded. (PA) (Agenzia Fides, 11/2/2024)
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    MIL OSI Europe News –

  • MIL-OSI: Bitdeer Announces January 2025 Production and Operations Update

    Source: GlobeNewswire (MIL-OSI)

    – First trial batch of SEALMINER A2 air cooled rigs have been delivered to our datacenters and are running smoothly.

    – Completed acquisition of 101 MW site and gas-fired power plant project in Alberta to deliver the industry’s first fully vertically-integrated Bitcoin mining site.

    SINGAPORE, Feb. 12, 2025 (GLOBE NEWSWIRE) — Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced its unaudited mining and operations updates for January 2025.

    Operational Update

    • Self-mined Bitcoin: 126 Bitcoins, down from the previous month due to temporary curtailments at our Bhutan site related to higher seasonal electricity prices.
    • Mining Rig Manufacturing and R&D:
      • SEALMINER A1:
        • Mass production of approximately 3.7 EH/s of mining rigs remains on track with 0.4 EH/s powered on, 0.5 EH/s delivered for installation, 0.4 EH/s in-transit to datacenters and 2.4 EH/s in production. The manufacture of SEALMINER A1 is now expected to be completed at end of February or early March 2025.
      • SEALMINER A2:
        • Production of approximately 35 EH/s of mining rigs through October 2025, delayed by approximately one month due to 6.4 magnitude earthquake that struck Taiwan on January 21, 2025.
        • First trial batch of air cooled rigs have been delivered to our mining datacenters for testing and are running stably.
        • ~29,000 units (~7 EH/s out of the 35 EH/s) of SEALMINER A2s allocated for external sales are expected to begin shipment in March through Q2 2025.
      • SEALMINER A3:
        • SEAL03 initial tape-out sample wafers with an expected chip efficiency of approximately 10 J/TH are expected in Q1 2025.
      • SEALMINER A4:
        • SEAL04 R&D remains on track to achieve an expected chip efficiency of approximately 5 J/TH with anticipated initial tape-out in Q3 2025.
      • The Bureau of Industry and Security (“BIS”) of the U.S. Department of Commerce published a rule entitled “Implementation of Additional Due Diligence Measures for Advanced Computing Integrated Circuits”, in January 2025 (the “BIS Rules”). Based on preliminary review, the Company does not expect that the application of the BIS Rules will have any impact on the delivery of SEAL chips, as the outsourced semiconductor assembly and test (“OSAT”) companies for SEAL chips are Approved “OSAT” companies under BIS regulations.
    • HPC/AI:
      • Discussions are ongoing with multiple development partners and potential end users for select large scale sites in U.S. for HPC/AI.
      • Bitdeer AI Cloud, powered by NVIDIA DGX SuperPOD with H100, saw its average utilization rate drop to ~60% in January 2025 due to an initial shift toward R&D in model inference and AI Agents. In the short term, some DGX H100 systems will be allocated to deploying open-source models like DeepSeek, Llama, and Qwen, enhancing API support for AI Agents, optimizing platform services, and advancing related R&D.
    • Hosting:
      • Client-hosted machines increased by 2,000 units and overall hashrate increased by 0.5 EH/s as customers are replacing older mining rigs with high efficiency ones.
    • Infrastructure:
      • Tydal, Norway, 40 MW phase 1 expansion has completed installation of transformers, with delivery and installation of electrical equipment currently in progress. The energization application has entered into the fast track for final regulatory approval.
      • Rockdale, Texas, USA, 100 MW hydro-cooling conversion is on track for phased completion during Q1 2025.
      • Clarington Phase 2, Ohio, USA, 304 MW is still pending approval and in negotiation with the landlord.
      • Jigmeling, Bhutan, 500 MW construction is on track with the primary substation expected to be completed by Q1 2025.
      • Fox Creek, Alberta, 101 MW gas-fired power plant and 99 MW datacenter of capacity for Bitcoin mining planned for energization in Q4 2026.
    • Financing:
      • Successfully executed a $17M supply chain financing facility with a 10.2% interest rate with a Singapore financial institution and completed the drawdown of facility in January 2025.

    Management Commentary

    “Our strategic acquisition of the 101 MW site near Fox Creek, Alberta and gas-fired power plant project marks a significant step in our strategy to become a fully-vertically integrated Bitcoin miner,” stated Matt Kong, Chief Business Officer of Bitdeer. “By combining our own power generation, SEALMINER mining machines and opportunistic grid participation, we believe this site will set a new benchmark for industry unit economics.”

    Mr. Kong continued, “In terms of our ASICs roadmap, mass production of our SEALMINER A1s remain on schedule. SEALMINER A2s were slightly impacted by the 6.4 magnitude earthquake in Taiwan on January 21, 2025, and its mass production in H2 is expected to delay about one month. However, the first trial batch of SEALMINER A2 air cooled models have been delivered to our own datacenters for testing and are running smoothly. Further, we expect the initial tape-out sample wafers of our SEAL03 chip to be ready in March for testing. SEAL03 is expected to be the most advanced and energy-efficient Bitcoin mining chip on the market and represents a significant achievement for Bitdeer and the industry.”

    Production and Operations Summary

    Metrics Jan 2025 Dec 2024 Nov 2024
    Total hash rate under management1(EH/s) 22.4 21.6 20.7
    – Proprietary hash rate 9.2 8.9 8.8
    • Self-mining 8.7 8.5 8.2
    • Cloud Hash Rate 0.0 0.0 0.2
    • Delivered but not hashing 0.5 0.4 0.4
    – Hosting 13.2 12.7 11.9
    Mining machines under management 179,000 175,000 178,000
    – Self-owned2 87,000 85,000 86,000
    – Hosted 92,000 90,000 92,000
    Bitcoins mined (self-mining only) 126 145 150
    Bitcoin held3 724 594 443

    1Total hash rate under management as of January 31, 2025 across the Company’s three primary business lines: Self-mining, Cloud Hash Rate, and Hosting.

    • Self-mining refers to cryptocurrency mining for the Company’s own account, which allows it to directly capture the high appreciation potential of cryptocurrency.
    • Cloud Hash Rate offers hash rate subscription plans and shares mining income with customers under certain arrangements. The Cloud Hash Rate stated above reflects the contracted hash rate with customers at month-end.
    • Hosting encompasses a one-stop mining machine hosting solution including deployment, maintenance, and management services for efficient cryptocurrency mining.

    2Self-owned mining machines are for the Company’s self-mining business and Cloud Hash Rate business.
    3Bitcoins held do not include the Bitcoins from deposits of the customers.

    Infrastructure Construction Update

    Rockdale, Texas – 100 MW Hydro-cooling conversion to be energized in phases in Q1 2025:

    • Cooling system will be delivered and installed in phases in Q1 2025.
    • Planning for phased energization by March 2025.

    Tydal, Norway – 175 MW site expansion anticipated to be fully energized by mid-2025:

    • Installation of the transformers has been completed, with the delivery and installation of electrical equipment currently in progress. Additionally, the procurement and delivery of containers and hydro-cooling systems are underway, and drainage systems construction is ongoing.
    • Tydal, Norway Phase 1 40 MW expansion pending regulatory approval. Energization of the full 175 MW site is expected to occur no later than mid-2025, subject to regulatory approval.

    Massillon, Ohio – 221 MW site construction has begun ahead of schedule:

    • Substation construction is underway and is expected to be completed in Q3 2025.
    • Building design is completed and construction has begun earlier than expected, estimated to be completed in phases between Q3 and Q4 2025.
    • Estimated energization timeline remains on track for mid-to-late 2025.

    Clarington Phase 2, Ohio – 304 MW is still pending approval and in negotiation with the landlord.

    Jigmeling, Bhutan – 500 MW site is progressing well, with the following key milestones achieved:

    • Construction of transformer and container foundations in progress and will be completed in phases, with the last phase expected by the end of February 2025.
    • 132kv/140MW and 220kv/360MW substation designs are completed with construction anticipated to be finished by the end of Q1 2025.
    • Orders for the procurement of transformers and electrical equipment have been placed, with delivery and installation work to be completed in phases over Q1 and Q2 2025.
    • Procurement and delivery of containers and hydro-cooling systems are in progress, with completion expected in phases by the end of Q1 2025.

    Fox Creek, Alberta – 101 MW site acquired in Alberta sits on 19 acres is fully licensed and permitted:

    • Acquisition includes all permits and licenses to construct an on-site natural gas power plant, as well as approval for a 99 MW grid interconnection with Alberta Electric System Operator (“AESO”).
    • Bitdeer will develop and construct the power plant in partnership with a leading Engineering, Procurement and Construction (“EPC”) company and is expected to be energized by Q4 2026.
    Site / Location Capacity (MW) Status Timing4
    Electrical capacity      
    – Rockdale, Texas 563 Online Completed
    – Knoxville, Tennessee 86 Online Completed
    – Wenatchee, Washington 13 Online Completed
    – Molde, Norway 84 Online Completed
    – Tydal, Norway 50 Online Completed
    – Gedu, Bhutan 100 Online Completed
    Total electrical capacity 8955    
    Pipeline capacity      
    – Tydal, Norway Phase 1 40 In progress Pending Regulatory Approval
    – Tydal, Norway Phase 2 135 In progress Mid 2025
    – Massillon, Ohio 221 In progress Mid-to-late 2025
    – Clarington, Ohio Phase 1 266 In progress Q3 2025
    – Clarington, Ohio Phase 2 304 Pending approval Estimate 2026
    – Jigmeling, Bhutan 500 In progress Mid-to-late 2025
    – Rockdale, Texas 179 In planning Estimate 2026
    – Alberta, Canada 99 In planning Q4 2026
    Total pipeline capacity 1,744    
    Total global electrical capacity 2,639    

    4 Indicative timing. All timing references are to calendar quarters and years.
    5 Figures may not add up due to rounding.

    Upcoming Conferences and Events

    • March 11 – 12, 2025: Cantor Global Technology Conference in New York City
    • March 16 – 18, 2025: 37th Annual ROTH Growth Conference in Dana Point, California

    About Bitdeer Technologies Group

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

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

    Forward-Looking Statements

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

    For investor and media inquiries, please contact:

    Investor Relations
    Orange Group
    Yujia Zhai
    bitdeerIR@orangegroupadvisors.com

    Public Relations
    BlocksBridge Consulting
    Nishant Sharma
    bitdeer@blocksbridge.com

    The MIL Network –

  • MIL-OSI: P10 Reports Fourth Quarter and Full Year 2024 Earnings Results

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Feb. 12, 2025 (GLOBE NEWSWIRE) — P10, Inc. (NYSE: PX) (the “Company”), a leading private markets solutions provider, today reported financial results for the fourth quarter and year ended December 31, 2024.

    Fourth Quarter 2024 Financial Highlights

    • Revenue: $85 million, a 35% increase year over year.
    • Fee-Related Revenue: $85 million, a 37% increase year over year.
    • Fee-Paying Assets Under Management: $25.7 billion, a 10% increase year over year.
    • GAAP Net Income (Loss): $5.7 million compared to $(1.9) million in the prior year.
    • Adjusted EBITDA: $42.9 million, a 40% increase year over year.
    • Fee-Related Earnings: $42.7 million, a 39% increase year over year.
    • Adjusted Net Income: $35.3 million, a 39% increase year over year.
    • Fully Diluted GAAP EPS: $0.05 compared to $(0.01) in the prior year.
    • Fully Diluted ANI per share: $0.30, a 44% increase year over year.

    Fiscal Year End 2024 Financial Highlights

    • Revenue: $296.4 million, a 23% increase year over year.
    • Fee-Related Revenue: $291.3 million, a 23% increase year over year.
    • GAAP Net Income (Loss): $19.7 million, compared to $(7.8) million in the prior year.
    • Adjusted EBITDA: $144.5 million, a 17% increase year over year.
    • Fee-Related Earnings: $142.1 million, a 15% increase year over year.
    • Adjusted Net Income: $120.2 million, an 18% increase year over year.
    • Fully Diluted GAAP EPS: $0.16, compared to $(0.06) in the prior year.
    • Fully Diluted ANI per share: $1.00, a 22% increase year over year.

    A presentation of the quarterly financials may be accessed here and is available on the Company’s website.

    “P10 delivered record financial performance in the fourth quarter, capping off a remarkable year. Our investment strategies carried momentum in the fourth quarter, achieving $905 million in gross new fee-paying AUM. We also exceeded our 2024 fundraising guidance by over a billion dollars and delivered strong growth across our platform,” said Luke Sarsfield, P10 Chairman and Chief Executive Officer. “Over the course of 2024, we executed on all strategic priorities outlined at the start of the year, which included optimizing our leadership team, driving increased organic growth, reaccelerating our M&A engine, generating operational efficiencies and enhancing our transparency. The Company is well positioned for an exciting 2025 and to meet or exceed the long-term financial guidance we provided at our inaugural Investor Day in September 2024.”

    Stock Repurchase Program

    In the fourth quarter, the Company repurchased approximately 815,327 shares at an average price of $12.72 per share. In 2024, the Company repurchased approximately 6,641,827 shares at an average price of $8.88 per share, for a total of $59.1 million in the year. The repurchase activity left approximately $3.5 million available under the repurchase authorization at the end of the fourth quarter. This week, the Board of Directors authorized an additional $40 million under the share repurchase program which brings the total available under the plan to approximately $43.5 million.

    Declaration of Dividend

    The Board of Directors of the Company has declared a quarterly cash dividend of $0.035 per share on Class A and Class B common stock, payable on March 20th, 2025, to the holders of record as of the close of business on February 28th, 2025.

    Conference Call Details

    The Company will host a conference call at 8:30 a.m. Eastern Time on Wednesday, February 12, 2025. All participants must register prior to joining the event.

    • To join and view the live webcast, please register here.
    • To join by telephone, please register here.

    For those unable to participate in the live event, a replay will be made available on P10’s investor relations page at www.p10alts.com.

    About P10

    P10 is a leading multi-asset class private markets solutions provider in the alternative asset management industry. P10’s mission is to provide its investors differentiated access to a broad set of investment solutions that address their diverse investment needs within private markets. As of December 31, 2024, P10’s products have a global investor base of more than 3,800 investors across 50 states, 60 countries, and six continents, which includes some of the world’s largest pension funds, endowments, foundations, corporate pensions, and financial institutions. Visit www.p10alts.com.

    Forward-Looking Statements

    Some of the statements in this release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Words such as “will,” “expect,” “believe,” “estimate,” “continue,” “anticipate,” “intend,” “plan” and similar expressions are intended to identify these forward-looking statements. Forward-looking statements discuss management’s current expectations and projections relating to our financial position, results of operations, plans, objectives, future performance, and business. The inclusion of any forward-looking information in this release should not be regarded as a representation that the future plans, estimates, or expectations contemplated will be achieved. Forward-looking statements reflect management’s current plans, estimates, and expectations, and are inherently uncertain. All forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors that may cause actual results to be materially different, including risks relating to: global and domestic market and business conditions; successful execution of business and growth strategies and regulatory factors relevant to our business; changes in our tax status; our ability to maintain our fee structure; our ability to attract and retain key employees; our ability to manage our obligations under our debt agreements; our ability to make acquisitions and successfully integrate the businesses we acquire, including our pending acquisition of Qualitas Funds SGEIC, S.A.; assumptions relating to our operations, financial results, financial condition, business prospects and growth strategy; the impacts of emerging technologies, such as artificial intelligence and machine learning; and our ability to manage the effects of events outside of our control. The foregoing list of factors is not exhaustive. For more information regarding these risks and uncertainties as well as additional risks that we face, you should refer to the “Risk Factors” included in our annual report on Form 10-K for the year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission (“SEC”) on March 13, 2024, and in our subsequent reports filed from time to time with the SEC. The forward-looking statements included in this release are made only as of the date hereof. We undertake no obligation to update or revise any forward-looking statement as a result of new information or future events, except as otherwise required by law.

    Use of Non-GAAP Financial Measures by P10

    The non-GAAP financial measures contained in this press release (including, without limitation, Adjusted EBITDA, Adjusted EBITDA Margin, Fee-Related Revenue (“FRR”), Fee-Related Earnings (“FRE”), Fee-Related Earnings Margin, Adjusted Net Income (“ANI”) and, Fully Diluted ANI per share are not GAAP measures of the Company’s financial performance or liquidity and should not be considered as alternatives to net income (loss) as a measure of financial performance or cash flows from operations as measures of liquidity, or any other performance measure derived in accordance with GAAP. A reconciliation of such non-GAAP measures to their most directly comparable GAAP measure is included later in this press release. The Company believes the presentation of these non-GAAP measures provide useful additional information to investors because it provides better comparability of ongoing operating performance to prior periods. It is reasonable to expect that one or more excluded items will occur in future periods, but the amounts recognized can vary significantly from period to period. These non-GAAP measures should not be considered substitutes for net income or cash flows from operating, investing, or financing activities. You are encouraged to evaluate each adjustment to non-GAAP financial measures and the reasons management considers it appropriate for supplemental analysis. Our presentation of these measures should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.

    Key Financial & Operating Metrics

    Fee-paying assets under management reflects the assets from which we earn management and advisory fees. Our vehicles typically earn management and advisory fees based on committed capital, and in certain cases, net invested capital, depending on the fee terms. Management and advisory fees based on committed capital are not affected by market appreciation or depreciation.

    P10 Investor Contact:
    info@p10alts.com

    P10 Media Contact:
    Josh Clarkson
    Taylor Donahue
    jclarkson@prosek.com

     
    Reconciliation of Non-GAAP Financial Measures
     
                       
    (Dollars in thousands except share and per share amounts)   Three Months Ended   Twelve Months Ended   % Change
      December 31, 2024 December 31, 2023   December 31, 2024 December 31, 2023   Q4’24 vs Q4’23 YTD’24 vs YTD’23
    GAAP Net Income/(Loss)   $ 5,701   $ (1,893 )   $ 19,667   $ (7,772 )   N/A N/A
    Adjustments:                  
    Depreciation & amortization   6,902   7,945     28,314   31,472     -13% -10%
    Interest expense, net   6,927   5,792     25,510   21,872     20% 17%
    Income tax expense   1,967   1,826     8,698   4,632     8% 88%
    Non-recurring expenses   10,388   3,204     17,520   13,874     224% 26%
    Non-cash stock based compensation   4,999   5,252     22,480   21,519     -5% 4%
    Non-cash stock based compensation – acquisitions   2,414   779     7,971   8,674     210% -8%
    Non-cash stock based compensation – CEO transition   –   4,225     –   6,331     -100% -100%
    Earn out related compensation   3,597   3,597     14,312   22,992     0% -38%
    Adjusted EBITDA   $ 42,895   $ 30,727     $ 144,472   $ 123,594     40% 17%
    Less:                  
    Cash interest expense   (6,497 ) (5,049 )   (21,727 ) (20,100 )   29% 8%
    Cash income taxes, net of taxes related to acquisitions   (1,101 ) (206 )   (2,538 ) (1,539 )   434% 65%
    Adjusted Net Income   $ 35,297   $ 25,472     $ 120,208   $ 101,955     39% 18%
                       
    Fully Diluted ANI per Share                  
    Shares outstanding   111,333   116,299     112,549   116,104     -4% -3%
    Fully Diluted Shares outstanding   119,286   124,163     120,375   124,063     -4% -3%
    ANI per share   $0.32   $0.22     $1.07   $0.88     45% 22%
    Fully Diluted ANI per share(1)   $0.30   $0.21     $1.00   $0.82     44% 22%
                       
    Adjusted EBITDA Margin                  
    Total Revenues   $ 85,014   $ 63,067     $ 296,448   $ 241,734     35% 23%
    Adjusted EBITDA   42,895   30,727     144,472   123,594     40% 17%
    Adjusted EBITDA Margin   50 % 49 %   49 % 51 %   N/A N/A
                       
    Fee-Related Revenue                  
    Total Revenues   $ 85,014   $ 63,067     $ 296,448   $ 241,734     35% 23%
    Adjustments:                  
    Non-Fee Related Revenue   13   (1,126 )   (5,179 ) (4,730 )   -101% 9%
    Fee-Related Revenue   $ 85,027   $ 61,941     $ 291,269   $ 237,004     37% 23%
                       
    Fee-Related Earnings                  
    GAAP Net Income/(Loss)   $ 5,701   $ (1,893 )   $ 19,667   $ (7,772 )   N/A N/A
    Adjustments   37,194   32,620     124,805   131,366     14% -5%
    Adjusted EBITDA   $ 42,895   $ 30,727     $ 144,472   $ 123,594     40% 17%
    Less:                  
    Non-Fee Related Income   (173 ) (87 )   (2,354 ) (497 )   99% 374%
    Fee-Related Earnings   $ 42,722   $ 30,640     $ 142,118   $ 123,097     39% 15%
    Fee-Related Earnings Margin   50 % 49 %   49 % 52 %   N/A N/A
     

    (1) Fully Diluted ANI per share calculations include the total of all shares of common stock, stock options under the treasury stock method, restricted stock awards, and the redeemable non-controlling interests of P10 Intermediate converted to Class A stock as of each period presented.

    Notes to Reconciliation of Non-GAAP Financial Measures

    Above is a calculation of our unaudited non-GAAP financial measures. These are not measures of financial performance under GAAP and should not be construed as a substitute for the most directly comparable GAAP measures, which are reconciled in the table above. These measures have limitations as analytical tools, and when assessing our operating performance, you should not consider these measures in isolation or as a substitute for GAAP measures. Other companies may calculate these measures differently than we do, limiting their usefulness as a comparative measure.

    We use Adjusted Net Income, or ANI, as well as Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization), Adjusted EBITDA Margin, Fee-Related Revenues, Fee-Related Earnings and Fee-Related Earnings Margin to provide additional measures of profitability. We use the measures to assess our performance relative to our intended strategies, expected patterns of profitability, and budgets, and use the results of that assessment to adjust our future activities to the extent we deem necessary. ANI reflects an estimate of our cash flows generated by our core operations. ANI is calculated as Adjusted EBITDA, less actual cash paid for interest and federal and state income taxes.

    In order to compute Adjusted EBITDA, we adjust our GAAP Net Income for the following items:

    • Expenses that typically do not require us to pay them in cash in the current period (such as depreciation, amortization and stock-based compensation);
    • The cost of financing our business;
    • One-time expenses related to restructuring of the management team including placement/search fees;
    • Expenses related to the debt refinance completed in August 2024;
    • Acquisition-related expenses which reflects the actual costs incurred during the period for the acquisition of new businesses, which primarily consists of fees for professional services including legal, accounting, and advisory, as well as bonuses paid to employees directly related to the acquisition; and
    • The effects of income taxes.

    Fee-Related Revenues is calculated as Total Revenues less any incentive fees.

    Fee-Related Earnings is a non-GAAP performance measure used to monitor our baseline earnings less any incentive fee revenue and excluding any incentive fee-related expenses.

    Fee-Related Earnings Margin is calculated as Fee-Related Earnings divided by Fee-Related Revenues.

    Adjusted Net Income reflects net cash paid for federal and state income taxes and cash interest expense.

    Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by total GAAP revenues. We use Adjusted EBITDA Margin to provide an additional measure of profitability.

    The MIL Network –

  • MIL-OSI Europe: AMERICA/USA – Pope Francis shares with the US bishops the concern about migration policy and mass deportations

    Source: Agenzia Fides – MIL OSI

    Tuesday, 11 February 2025

    White House official page on Facebook

    Vatican City (Agenzia Fides) – “I have followed closely the major crisis that is taking place in the United States with the initiation of a program of mass deportations. The rightly formed conscience cannot fail to make a critical judgment and express its disagreement with any measure that tacitly or explicitly identifies the illegal status of some migrants with criminality. The act of deporting people who in many cases have left their own land for reasons of extreme poverty, insecurity, exploitation, persecution or serious deterioration of the environment, damages the dignity of many men and women, and of entire families, and places them in a state of particular vulnerability and defenselessness”.This is what Pope Francis emphasizes in a letter to the Catholic bishops of the United States with regard to the country’s current migration policy and in particular the mass deportations initiated by President Donald Trump.” I am writing today to address a few words to you in these delicate moments that you are living as Pastors of the People of God who walk together in the United States of America,” the Pope explains in the letter. In this context, the Bishop of Rome also recalls the Book of Exodus, which describes “the journey from slavery to freedom that the People of Israel traveled.”The biblical text “invites us to look at the reality of our time, so clearly marked by the phenomenon of migration, as a decisive moment in history,” said the Pope, who recalled “the infinite and transcendent dignity of every human person.”Jesus Christ, “the Son of God, in becoming man,” also experienced “the drama of immigration,” the Pope emphasizes in the letter. And he quotes the words with which Pius XII “began his Apostolic Constitution on the Care of Migrants, which is considered the “Magna Carta” of the Church’s thinking on migration, where it says: “The “infinite and transcendent dignity,” of the human person surpasses and sustains every other juridical consideration that can be made to regulate life in society.”Hence the harsh judgment with regard to the US government’s deportation policy. While it is necessary to “recognize the right of a nation to defend itself and keep communities safe from those who have committed violent or serious crimes while in the country or prior to arrival.” “But worrying about personal, community or national identity, apart from these considerations, easily introduces an ideological criterion that distorts social life and imposes the will of the strongest as the criterion of truth.”In the final part of the message, the Pope thanks the US bishops for their work and efforts on behalf of migrants and refugees. “I exhort all the faithful of the Catholic Church, and all men and women of good will, not to give in to narratives that discriminate against and cause unnecessary suffering to our migrant and refugee brothers and sisters. With charity and clarity we are all called to live in solidarity and fraternity, to build bridges that bring us ever closer together, to avoid walls of ignominy and to learn to give our lives as Jesus Christ gave his for the salvation of all,” the Pope concluded. (F.B.) (Agenzia Fides, 11/2/2025)
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  • MIL-OSI Europe: AFRICA/EGYPT – In the small village of Kom Ghareeb, the Church is a refuge for the young and the most needy

    Source: Agenzia Fides – MIL OSI

    Wednesday, 12 February 2025

    Anselmo Fabiano

    Kom Ghareeb (Agenzia Fides) – These days, the Coptic Church celebrates the feast of the prophet Jonah, a deeply felt commemoration, marked by three days of prayer and fasting that prepare the faithful for the time of Lent.Anselmo Fabiano, a young missionary of the Society of African Missions (SMA), arrived last September at the SMA house in the Shoubra neighborhood. For more than a month he has been in the village of Kom Ghareeb, in the heart of the Egyptian countryside, where he will remain for the next five months.”Here the days pass quickly in this warm and sunny winter, where snow and rain are only a distant memory – he tells Fides -. In these weeks, I have lived many experiences and I have been able to taste the beauty of a young community, enthusiastic in faith and very dynamic. I am overwhelmed by the affection and generosity of these simple people, but with a big heart. Every time I walk through the streets of the village, the children see me and start shouting, running towards me to greet me, invite me to play or share some food. They are curious and ask many questions. I feel like one of them and I try, in my own way, to be a true witness of the Gospel.”“There are so many experiences to tell: weddings, first communions, home visits, funerals, moments with young people and children. Among them, I like to remember three small episodes.” The first is related to the Eucharist. “Here Mass is celebrated with leavened bread, prepared on Saturday afternoons by a group of children and young people, with the help of an adult. It is beautiful to live this experience with them: a true school of faith and life, where service becomes prayer. Their joy and enthusiasm in teaching me how to make bread I keep as a precious gift. And that smell of bread that, on the altar, becomes the body of Jesus, moves me every time.”“The second episode – the missionary continues – I can call ‘the children of the parish’. In fact, very poor families live here around the church, with very complicated and dramatic human situations. For many children, the Coptic parish and its parish priest, Abuna Iusif, have become their second home. After school, they spend the day there. The parish priest invites them to share the meal, and our table becomes a meeting place for young and old.Even at weddings or parties, it is common to see these children barefoot or in worn-out slippers, standing next to the bride and groom or among the elegantly dressed guests. It fills me with joy to know that the Church is a refuge for the youngest and most needy.”“Finally, the third episode I can call the ‘fire of hospitality’. Every day we visit the families of the village, an enriching experience that allows us to learn about their life, with their joys and difficulties, but above all to touch their authentic and deep faith. Often, visits extend beyond dusk, and then we gather around the fire, with a glass of hot tea or coffee, to shelter ourselves from the cold desert wind. And the smell of smoke or the tiredness that is felt does not matter, but the joy of being together and of being able to pray, lights and feeds the fire of faith”, concludes Anselmo. (AP) (Agenzia Fides, 12/2/2025)
    Anselmo Fabiano

    Anselmo Fabiano

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  • MIL-OSI Europe: AFRICA/DR CONGO – M23 advances in South Kivu; airport serving Bukavu is in its sights

    Source: Agenzia Fides – MIL OSI

    Kinshasa (Agenzia Fides) – “The ceasefire declared in recent days has been broken. In reality, it has only served to supply the M23 rebel movement and the Rwandan army with weapons, ammunition and provisions to their troops so that they can then continue their advance southwards,” an observer from the local Church in Bukavu, the capital of South Kivu province in the east of the Democratic Republic of Congo, tells Fides.On February 3, the M23 militia, which had taken Goma, the capital of the Congolese province of North Kivu at the end of January, declared a ceasefire “for humanitarian reasons”, which came into force on February 4 (see Fides, 4/2/2025).”The M23 has resumed its advance in South Kivu and attacked the village of Ihusi,” the observer said. “Currently, Rwandan soldiers and M23 fighters are about 60 km from the center of Bukavu. Their target is probably much closer, it is Kavumu airport, which is about 30 km from the city and is of strategic importance for supplying the Congolese army troops (FARDC) with men and resources,” the observer underlines, reporting that “the situation in the city is calm. “The foreign employees of the various non-governmental organizations and international agencies have meanwhile left the city, while missionaries and local clergy remain on site.”It therefore remains uncertain whether the advance of the M23 units will stop at Kavumu airport or continue on to the capital of South Kivu province. “Bukavu is defended not only by Congolese soldiers and militiamen, but also by soldiers of the Burundian army, which has stationed 16 battalions in the region with a total of about 12,000 men. These soldiers seem to be better equipped than the soldiers of the Congolese army, who often claim that they do not even have enough to eat,” the observer continues.On a diplomatic level, the crisis in the east of the Democratic Republic of Congo will be discussed at the African Union summit in Addis Ababa (Ethiopia) this weekend. “Many promises, many words, but nothing concrete,” the observer suspects. “Sanctions against Rwanda are threatened, but nothing concrete seems to have been done to put them into practice.” In Goma, meanwhile, the drama continues with hundreds of thousands of displaced people forced to leave their shelters because, according to the rebel movement M23, “security conditions have been restored.” “This is a political move to show that the ‘new masters’ of the region have the situation under control,” the observer says. “However, thousands of people are forced to return to villages, in some cases 30-40 km from Goma, without the guarantee of finding their homes and the minimum conditions for a decent life,” he concludes. “Many of them remain in the city in makeshift shelters or welcomed by friends and relatives.” (L.M.) (Agenzia Fides, 12/2/2025)
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  • MIL-OSI Russia: GUU and Expobank: partnership for the sake of future entrepreneurs

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    On February 12, 2025, a ceremony of signing a cooperation agreement between the university and Expobank JSC took place at the State University of Management.

    The following represented GUU at the meeting: Rector Vladimir Stroyev, Vice-Rector Dmitry Bryukhanov and Director of the Institute of Economics and Finance Galina Sorokina. The delegation of guests was represented by the Chairman of the Board of Expobank Kirill Nifontov, Director of HR Galina Weisband, Head of Recruitment and Youth Affairs Oksana Schwartz and Head of Corporate Culture and Internal Communications Olga Chervova.

    Rector of the State University of Management Vladimir Stroyev greeted the guests and handed over the opening remarks to the Director of the Institute of Economics and Finance Galina Sorokina, who briefly spoke about the goals of the meeting and introduced the history of the university. Galina Petrovna especially emphasized that the origin of the university can rightfully be traced back to the Aleksandrovsky Commercial School, which was the first educational institution in Russia that trained entrepreneurs.

    Vladimir Stroyev noted that in many ways the State University of Management positions itself as an entrepreneurial university. And although the main emphasis in accordance with the requirements of the era and state tasks is on training industry managers, no one is going to leave the entrepreneurial track either. Moreover, now is the best time for banks to fully engage in educational processes, because by 2030 the Strategy for the Development of the Education System will have already changed significantly in favor of training engineers, doctors, teachers and specialists in the natural sciences.

    The rector also spoke about the project-based learning system at the State University of Management, for which one day a week is allocated in the curriculum from the first year. Vladimir Vitalyevich advised selecting personnel from the very beginning of the training, because by the 3rd or 4th year, the best students are usually already employed. To participate in the programs, you only need to assign a curator, no financial investments are needed. There are a lot of motivated students at the university, the main thing for the employer is to pick them up in time.

    Galina Sorokina added that various scholarship programs, which banks often limit themselves to, are just an additional opportunity for goal-oriented senior students to prove themselves and expand their resumes, while in reality they are already focused on other jobs.

    Kirill Nifontov, Chairman of the Board of Expobank, noted that all of the above is interesting to him not only as an employer, but also as a father of four children. He said that the private bank he represents is the 30th largest in Russia in terms of capital. The financial institution sees its mission in cultivating an entrepreneurial spirit, revealing the potential of clients and young businessmen.

    “We strive to solve complex problems, we grow actively, we find free niches in which we become leaders, we buy out the assets of large Western companies that have left. We consciously focus on young people, we involve and train them. The average age of our employees is 38 years old,” said Kirill Nifontov.

    The guest also complained about the “early aristocratization” of young specialists, who quickly get used to the increased attention of employers and lose motivation for development. This is why Expobank is concluding an agreement with the State University of Management in order to train specialists for itself.

    During the conversation, Kirill Nifontov asked a burning question: “Is it possible to learn entrepreneurship or is it an innate skill?” Vladimir Stroyev admitted that this question is often raised in discussions, and his opinion is that everything can be taught, but not everyone is destined to become Musk or Jobs; for this, innate talent is needed.

    After the signing ceremony, the guests from Expobank were given a tour of the State University of Management. Kirill Nifontov was clearly interested in asking the director Marina Grigorieva about the details of admission and education, organizational processes and youth trends, and his colleagues were amazed at the advanced equipment of the classrooms. Then the tour moved to the Media Center, where the bankers were introduced to the internal educational platform – the Digital Building of our university. At the end of the visit, the representatives of Expobank were shown the auditorium GU-307, which will be allocated to the bank for the arrangement and image support of its brand within the walls of the State University of Management.

    Subscribe to the TG channel “Our GUU” Date of publication: 02/12/2025

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

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Singapore ETO holds Chinese New Year dinner to promote Hong Kong (with photos)

    Source: Hong Kong Government special administrative region

    Singapore ETO holds Chinese New Year dinner to promote Hong Kong (with photos)
    Singapore ETO holds Chinese New Year dinner to promote Hong Kong (with photos)
    ******************************************************************************

         The Hong Kong Economic and Trade Office, Singapore (Singapore ETO) hosted a dinner at the Fullerton Bay Hotel Singapore in Singapore yesterday (February 11) to celebrate Chinese New Year and to promote Hong Kong. Over 200 guests from the government sector, foreign embassies in Singapore, Asia-Pacific Economic Cooperation, business associations, academic institutions and cultural organisations attended, as well as the local Hong Kong community.      Speaking at the dinner, the Director of the Singapore ETO, Mr Owin Fung, reviewed the work and achievements of Hong Kong and Singapore collaboration in recent years, including the visit by the Chief Executive, Mr John Lee, to Singapore in 2023, during which he led a Hong Kong Special Administrative Region business delegation and signed seven Memoranda of Understanding. In January this year, the Deputy Prime Minister and Minister for Trade and Industry of Singapore, Mr Gan Kim Yong, also led a high-level business delegation to Hong Kong, engaging in high-level discussions on traditional and emerging business sectors. Furthermore, 23 Singaporean companies expanded or established operations in Hong Kong in 2023, demonstrating Singapore enterprises’ investment interest and confidence in Hong Kong. Both sides expect to further build bilateral ties.      Mr Fung also took the opportunity to introduce, through a video, the Kai Tak Sports Park which is set to open on March 1. Major events and activities will be held at the park. Projects such as the Kai Tak Sports Park and the West Kowloon Cultural District exemplify Hong Kong’s cultural and soft power.      During the dinner, Hong Kong singer-songwriter Chet Lam, along with four band members, performed as guest artists. They delivered a selection of Cantonese, English, and Putonghua songs, including “Singapore Pie”, a piece by Liang Wern Fook, a renowned Singaporean lyricist, composer and Xinyao singer. Earlier, they and other Hong Kong musicians participated in an outdoor concert and talk under the “Hong Kong Pop Culture Festival @ Huayi” held in Singapore. The events were sponsored and supported by the Leisure and Cultural Services Department and the Hong Kong Economic and Trade Office in Singapore.      Mr Fung concluded that the Association of Southeast Nations (ASEAN), as Hong Kong’s second-largest merchandise trading partner, presents significant opportunities. Amid global economic challenges, Hong Kong has emphasised its unique advantages under the “one country, two systems” arrangement, serving as a gateway between Mainland China and global markets, while reinforcing connectivity with traditional markets and exploring emerging markets in ASEAN and the Middle East, with the Greater Bay Area as a key focus for collaboration.      Looking ahead, Singapore ETO will host its first Chinese New Year dinner in Ho Chi Minh City on February 28 to celebrate the Year of the Snake and the 30th anniversary of the Office, while enhancing communication with local communities in Vietnam.

     
    Ends/Wednesday, February 12, 2025Issued at HKT 13:39

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  • MIL-OSI Asia-Pac: LCQ2: Members of public being lured to overseas to engage in illegal work

    Source: Hong Kong Government special administrative region

    LCQ2: Members of public being lured to overseas to engage in illegal work
    LCQ2: Members of public being lured to overseas to engage in illegal work
    *************************************************************************

         Following is a question by the Hon Yung Hoi-yan and a reply by the Acting Secretary for Security, Mr Michael Cheuk, in the Legislative Council today (February 12): Question:      It has been reported that recently, a number of cases have occurred involving members of the public suspected of being lured to Southeast Asian countries and detained to engage in illegal work (cases of luring and detention). In this connection, will the Government inform this Council: (1) of the number of suspected cases of luring and detention received by the Government in each month of the past two years, as well as the following information on each case: the countries involved; the respective numbers of persons who were lured and successfully rescued; the longest period of detention; the respective numbers of persons arrested, prosecuted and successfully convicted in the cases concerned; and the penalties imposed on the convicted persons; (2) as it has been reported that the Security Bureau dedicated task force met with officials of the relevant law enforcement agencies in Thailand earlier on to exchange views on further strengthening co-operation in combating cross-border crimes, such as telecommunications and online frauds as well as human trafficking, of the Government’s plans in place to enhance collaboration with other law enforcement agencies in the region, including co-operation in law enforcement and exchange of information; and (3) given that the modus operandi of fraudsters is changing constantly, whether the Government has plans to enhance publicity and education work focusing on the fraudsters’ latest modus operandi, so that members of the public will step up the protection for themselves and stay vigilant; if so, of the details; if not, the reasons for that? Reply: President,      The Security Bureau (SB) has always attached great importance to cases where Hong Kong residents are suspected of being lured to Southeast Asian countries and detained to engage in illegal work, and has established a dedicated task force in August 2022 to co-ordinate follow-up work on the cases by relevant law enforcement agencies (LEAs), including the Hong Kong Police Force (HKPF) and the Immigration Department (ImmD), with a view to providing all practicable assistance to assistance seekers.      Since the second quarter of 2024, there have been signs of a resurgence in the situation where Hong Kong residents are suspected of being lured to Southeast Asian countries and detained to engage in illegal work. In view of recent developments, I led the dedicated task force comprising members from the SB, the HKPF and the ImmD to Bangkok, Thailand last month. The dedicated task force met with senior officials including the Minister of Justice (MoJ) of Thailand, Mr Tawee Sodsong, who is a member of the Anti-Trafficking-in-Persons Committee chaired by the Prime Minister of Thailand, and the heads of the enforcement departments under the MoJ, as well as the Royal Thai Police, to further follow up on related cases.      The dedicated task force reflected the situation regarding relevant request-for-assistance cases, exchanged intelligence and discussed strengthening collaboration, with a view to assisting safe and early return of assistance seekers to Hong Kong as soon as possible. The Thailand authorities demonstrated great importance to the assistance cases and offered positive feedback. Moreover, the Thailand authorities expressed that they would further strengthen the prevention and combat of transnational crimes, and exchanged views on further strengthening co-operation and communication, as well as jointly combating cross-border crimes such as telecommunications, online fraud and human trafficking.      Members of the dedicated task force were sent again to Thailand by the SB in late January 2025 to co-ordinate with various units, and held meetings with the Deputy Commissioner of the Immigration Bureau of the Royal Thai Police, Mr Phanthana Nutchanart, and the Director of Special Investigation and the Director of Human Trafficking under the MoJ of Thailand, with a view to arranging the return of the rescued Hong Kong residents as soon as possible. They will continue to actively assist and follow up on all relevant request-for-assistance cases of Hong Kong residents who have yet to return, striving for their return to Hong Kong as soon as possible.      My reply to the various parts of the question raised by the Hon Yung Hoi-yan is as follows: (1)  From 2023 to January 2025, the LEAs have received a total of 28 request-for-assistance cases (each case involves one victim) in relation to Hong Kong residents alleged to have been detained in Southeast Asian countries and not being able to leave. Among them, 19 have already returned to Hong Kong. As for the remaining nine persons, we believe that eight are in Myanmar while one is in Cambodia. The dedicated task force will continue to follow up and provide appropriate and practicable assistance to the assistance seekers or their families. The monthly breakdown of the number of request-for-assistance cases received by the LEAs, the countries involved, and the number of persons who have returned to Hong Kong are at Annex.       As regards Hong Kong, from 2023 to January 2025, the HKPF arrested a total of 11 persons in connection with this type of job scam cases where victims were lured to Southeast Asian countries and detained to engage in illegal work, for offences such as conspiracy to defraud, money laundering and obtaining property by deception. Besides, during the same period, two persons, who were arrested in 2022, were charged with conspiracy to defraud and convicted, and sentenced to 36 months’ and 56 months’ imprisonment respectively. (2)  After I led the dedicated task force comprising members from the SB, the HKPF and the ImmD to Bangkok, Thailand to meet with Thai authorities last month, the dedicated task force has established direct contacts with relevant Thai authorities to enhance future communication and exchange of intelligence, with a view to following up on the cases more effectively. Moreover, the ImmD will continue to maintain close contact with the Office of the Commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region and the Chinese diplomatic and consular missions there to actively follow up on the cases.      Meanwhile, the Secretary for Security also met with the Consuls-General of Thailand, Myanmar and Cambodia in Hong Kong in mid-January 2025 to exchange views, share information and discuss strengthening future follow-up work. The SB received positive feedback from the Consuls-General during the meetings with all parties expressing hope to assist more assistance seekers in returning to Hong Kong safely as soon as possible. (3)  Since 2022, the HKPF has noticed the modus operandi of the scams and started broadcasting anti-fraud videos through various channels and platforms to remind residents of the prevalent modus operandi of scams and to exercise caution in order to avoid those scams. In view of the recent cases, the Government will continue to strengthen publicity, including promotion on social media platforms, distributing the “anti-scam” leaflets to travellers heading to Thailand, Myanmar and Cambodia at the departure level of the Hong Kong International Airport, and through media reports, etc. In light of cases where the suspects met the victims in bars and entertainment establishments, the HKPF has also sent officers to distribute leaflets in various bar districts and entertainment establishments.      Moreover, in view of recent developments and having regard to the latest situation of relevant countries, the SB raised the Outbound Travel Alert (OTA) level for south-eastern regions of Myanmar on January 17, 2025, including Myawaddy district, Hpapun district, Hpa-An district and Kawkareik district, to red, while maintaining an amber OTA for the rest of the country. The SB also updated the OTA webpage on the same day regarding supplementary information for Cambodia with a view to reminding residents to exercise caution and beware of overseas job scams. Besides, the SB has put on alerts on overseas job scams under the Other Travel Information section of the OTA webpage, urging residents to pay extra attention to online recruitment advertisements or comments and exercise due caution against claims of ways to earn money quickly and jobs offering extraordinarily high remuneration without specific requirements for academic qualification or working experience.      Thank you, President.

     
    Ends/Wednesday, February 12, 2025Issued at HKT 12:45

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: India takes part in the 63rd session of the Commission for Social Development at New York

    Source: Government of India

    India takes part in the 63rd session of the Commission for Social Development at New York

    Smt. Savitri Thakur , Minister of State for Women and Child Development delivers India’s statement at the Ministerial Forum, addressing the priority theme: “Strengthening Solidarity and Social Cohesion”

     India has embraced “Women-led development,” ensuring women are key players in shaping the development trajectory : Smt.Thakur

    India has launched large-scale programs to bridge the gender digital divide, promoting digital and financial literacy, especially in rural areas empowering millions of women entrepreneurs

    Posted On: 12 FEB 2025 9:25AM by PIB Delhi

    India took part in the 63rdsession of the Commission for Social Development (CSoCD), held from February 10 to 14, 2025 at New York ,USA . This participation was led by Smt. Savitri Thakur, the Minister of  State for the Ministry of Women and Child Development, Government of India (GoI). This session aimed to encourage discussions and collaborations on pressing social development challenges, with an emphasis on advancing inclusive social policies and fostering global social well-being. The session witnessed the participation from 49 Countries including Ministers from 16 countries like France, Türkiye, Saudi Arabia, Sweden, etc.

    India’s involvement includes active participation in key discussions. On Tuesday, February 11, 2025, Smt. Savitri Thakur delivered India’s statement at the Ministerial Forum, addressing the priority theme: “Strengthening Solidarity and Social Cohesion.”

    India expressed its appreciation to the Commission for its leadership in discussing the importance of strengthening solidarity and social cohesion to ensure no one is left behind. Since the 1995 Copenhagen Summit on Social Development, India has made significant progress in addressing poverty, malnutrition, and universal healthcare, while also pioneering digital public infrastructure for sustainable development. By aligning with global best practices and developing indigenous solutions, India has become a model for the Global South.

      

    While addressing the Session, the Minister highlighted that India is driven by the vision of “Sabka Saath, Sabka Vikas, Sabka Vishwas” (Development for All), with a focus on inclusivity. Through initiatives like the JAM TRINITY (Jan Dhan, Aadhar, Mobile), India has achieved financial inclusion for disadvantaged communities, especially women, persons with disabilities, and the elderly. The country has also embraced “Women-led development,” ensuring women are key players in shaping the development trajectory.

    She said that India has launched large-scale programs to bridge the gender digital divide, promoting digital and financial literacy, especially in rural areas. This has empowered millions of women entrepreneurs, from start-ups to scalable businesses.

    As India works toward accelerating progress on the 2030 Agenda for development, increasing women’s workforce participation is a key priority. India’s robust social protection model includes 26 weeks of paid maternity leave, maternity benefits for 37.5 million mothers, a network of One Stop Centres, and an integrated National Women’s Helpline. Additionally, India’s early childhood care, nutrition, and education initiatives benefit over 100 million children, mothers, and adolescent girls.

    India supported the resolution on the priority theme and is progressing with the concept of saturation in social protection to ensure the delivery of essential services to the poorest populations, addressing multidimensional poverty.

    India’s rights-based approach to universal health coverage, including reproductive health, and the provision of clean cooking fuel, safe drinking water, sanitation, and affordable housing has transformed the lives of women and marginalized communities. Over 40 million homes have been built for the poor, with women as either sole or joint owners.

    Nearly 100 million women have been linked with self-help groups (SHGs), contributing to economic transformation and grassroots leadership.

    In conclusion, India is fully committed to accelerating global progress and supporting the Commission’s efforts toward a just world for all.

    **** 

    SS/MS

    (Release ID: 2102077) Visitor Counter : 67

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ14: Regulating claw machine venues

    Source: Hong Kong Government special administrative region

         â€‹Following is a question by the Hon Leung Man-kwong and a written reply by the Secretary for Home and Youth Affairs, Miss Alice Mak, in the Legislative Council today (February 12):
     
    Question:
     
         It has been reported that the High Court ruled in 2022 that ordinary claw machine venues do not fall within the definition of “entertainment” under the Places of Public Entertainment Ordinance (Cap. 172), and are therefore not required to apply for a places of public entertainment licence. Some members of the public are concerned that at present, there is no legislation in Hong Kong regulating the operation of claw machine venues (including the probability of drawing prizes from claw machines, the contents of the products and the fees charged for the games, etc), and while there has been an upward trend of consumer complaints relating to claw machine games in recent years, it is rather difficult to deal with such complaints in the absence of relevant legislation. In this connection, will the Government inform this Council:
     
    (1) of the respective numbers of reports involving claw machine games received by various law enforcement agencies in each of the past three years, the legislation involved in such cases, as well as the respective numbers of cases in which prosecutions were instituted and convictions were handed down;
     
    (2) whether the Police had, in the past three years, taken the initiative to investigate if any claw machine games involved illegal gambling; if they had taken the initiative to investigate and the outcome was in the affirmative, of the number of venues and claw machines involved, as well as the number of prosecutions instituted; if they had not taken the initiative to investigate, the reasons for that;
     
    (3) as it has been reported that some claw machine venues offer games solely relying on luck, for example, by rolling the dice, and even offer cash or expensive prizes to solicit business, and that both the Mainland and overseas countries regulate claw machine games by, amongst others, limiting the value of the products and stipulating that gambling should not be promoted and cash rewards not be offered, whether the authorities have plans to follow similar practices; if not, of the reasons for that; and
     
    (4) whether the authorities have plans to review and amend the existing legislation, or put in place legislation and a licensing system targeting at claw machine-related games, etc, so as to strengthen the regulation; if so, of the details; if not, the reasons for that?
     
    Reply:

    President,
     
         In consultation with the relevant policy bureaux, I give the consolidated reply to the Hon Leung Man-kwong’s question on behalf of the Government as follows:

    (1) Among the reports concerning claw machines received by the Office of the Licensing Authority of the Home Affairs Department in the past three years (from 2022 to 2024), there were two, six and five cases involving suspected unlawful gambling elements respectively. The relevant cases have been referred to the Hong Kong Police Force (HKPF) for follow up. The HKPF does not maintain other statistics on claw machines venues suspected of involvement in unlawful gambling.
     
         In the past three years, the number of reports received and enforcement actions taken by the Customs and Excise Department (C&ED) related to claw machines regarding suspected contravention of the Trade Descriptions Ordinance (Cap. 362) are listed by year as follows:
     

    Case category
    2022
    2023
    2024

    Reported cases
    16
    86
    158

    Prosecution cases*
    0
    1
    2

    Convicted cases*
    0
    1
    2

    * The cases are mainly associated with the offence of possession for sale or for any purpose of trade or manufacture goods to which a forged trade mark was applied under section 9(2) of the Trade Descriptions Ordinance.

    (2) The HKPF has all along tackled illegal gambling in a proactive manner and closely monitored the relevant trend in a bid to combat such activities timely through intelligence-led enforcement actions.
     
         In November 2024, the Organized Crime and Triad Bureau of the HKPF mounted a “Sharpteam” operation against unlawful gambling activities and, for the first time, smashed a suspected unlawful gambling establishment operating claw machines for winnings in money in Mong Kok. During the operation, the Police arrested a total of 17 people, including the responsible persons of the establishment, its staff and the gamblers, who were suspected to have operated or managed an unlawful gambling establishment, assisted in the operation or management of an unlawful gambling establishment and gambled in a gambling establishment. Fourteen claw machines suspected to be gambling game machines in disguise were seized. Police investigation is underway, and the 17 arrested persons have been released on bail pending further investigation. The HKPF would seek advice from the Department of Justice when necessary.

         The HKPF will continue its efforts in taking intelligence-led enforcement actions and in enhancing publicity and education, which include the production of promotional video clips, and dissemination of messages about combating unlawful gambling on conventional and social media platforms, in order to crack down on different kinds of unlawful gambling activities.
     
    (3) and (4) According to the Gambling Ordinance (Cap. 148), in order to obtain an Amusements with Prizes Licence (AWPL), one must first obtain a Places of Public Entertainment Licence (PPEL) under the Places of Public Entertainment Ordinance (Cap. 172). As mentioned in the Member’s question, since the Court has ruled that typical claw machine venues where people clamp items in the machines upon payment are no longer required to obtain a PPEL under the Places of Public Entertainment Ordinance, the Government will continue to keep in view the operation of claw machine venues in the society and consider the regulatory issues concerned. In the meantime, claw machine venues are not required to obtain relevant licences, including the AWPL under the Gambling Ordinance.

         However, the HKPF will continue to take appropriate enforcement actions against illegal gambling activities conducted under the camouflage of claw machines based on the evidence collected and in accordance with the Gambling Ordinance.

         On the other hand, if the operation of claw machines venues involves the use of counterfeit goods for the purpose of trade or other unfair trade practices, the C&ED will take appropriate enforcement actions pursuant to the Trade Descriptions Ordinance.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Raksha Mantri holds bilateral meetings on Day 2 of Aero India 2025

    Source: Government of India (2)

    Posted On: 11 FEB 2025 10:30PM by PIB Delhi

    On the sidelines of Aero India 2025, Raksha Mantri Shri Rajnath Singh held bilateral meetings with Minister of Defence of Armenia Mr Suren Papikyan, Minister of Defence, Malawi Ms Monica Changanamuno and Minister of the Armed Forces of Madagascar Lt Gen Sahivelo Lala Monja Delphin in Bengaluru on February 11, 2025.

    The meeting of Raksha Mantri and the Armenian Defence Minister provided both sides with an opportunity to discuss matters related to bilateral defence cooperation. Both leaders acknowledged the growing significance of defence ties between both nations which are progressing well with multi-pronged approach on Military and Military-Technical Cooperation. They discussed increasing bilateral training cooperation and possibilities of joint ventures between defence industries of both countries. Towards enhancing interoperability Armenia’s inclusion as an observer in the Joint India-Central Asia Army exercise was decided between both leaders.

    During the meeting with the Minister of Defence, Malawi, both leaders had wide-ranging discussions on ways to further strengthen bilateral defence relations and enhance cooperation in areas of training, military courses and capacity building of the Armed Forces. Both sides also agreed to expedite signing of Memorandum of Understanding on Defence Cooperation to foster mutual understanding and enhance strategic interests.

    During the meeting with Minister of the Armed Forces of Madagascar, both sides held comprehensive discussions on the matters of bilateral defence cooperation and maritime domain. They also discussed the possibilities for expanding bilateral defence cooperation, particularly early conclusion of an agreement for promoting Maritime Security in the Indian Ocean Region and cooperation in capacity building of Defence Forces.

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  • MIL-OSI Asia-Pac: LCQ8: Hosting events of 15th National Games, 12th National Games for Persons with Disabilities and 9th National Special Olympic Games

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Kenneth Lau and a written reply by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, in the Legislative Council today (February 12):
     
    Question:
     
         The 15th National Games (NG), the 12th National Games for Persons with Disabilities (NGD) and the 9th National Special Olympic Games (NSOG) to be co-hosted by Guangdong Province, the Hong Kong Special Administrative Region and the Macao Special Administrative Region for the first time will be held from November 9 to 21 and from December 8 to 15 this year respectively. Hong Kong will host eight competition events and one mass participation event for the 15th NG, as well as four competition events and one mass participation event for the 12th NGD and the 9th NSOG. In this connection, will the Government inform this Council:
     
    (1) of the following information on the events to be hosted in Hong Kong: (i) the arrangements for event management and competition schedules, (ii) the number of participating athletes, (iii) the expected number of spectators, (iv) the details of the publicity and promotional activities, and (v) the ticketing arrangements;
     
    (2) of the specific measures put in place by the authorities to enhance the ancillary transport facilities and capacity of the main stadiums and venues of the events to be hosted in Hong Kong (including Kai Tak Sports Park, Hong Kong Coliseum, Hong Kong Velodrome, Hong Kong Golf Club – Fanling Golf Course, Victoria Park, and Central Harbourfront Event Space and Victoria Harbour) during the events;
     
    (3) as it is learnt that the recruitment of volunteers for the 15th NG, the 12th NGD and the 9th NSOG was conducted from July to November last year, of (i) the number of applications received, (ii) the number of volunteers finally selected and (iii) their age distribution;
     
    (4) as it is learnt that the selected volunteers mentioned in (3) will mainly be responsible for tasks such as reception services upon arrival and departure, spectator services, guest reception, crowd control, transport and logistics, catering management and presentation ceremony support, and will receive training, of the details of the manpower establishment and training of volunteers for the aforesaid tasks; and
     
    (5) whether it has assessed if the number of selected volunteers mentioned in (3) can meet the relevant manpower demand, and whether it will consider recruiting more volunteers or mobilising civil servants to participate in the support work for the 15th NG, the 12th NGD and the 9th NSOG; if it will, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         Co-hosted by Guangdong, Hong Kong and Macao, the 15th National Games (15th NG), and the 12th National Games for Persons with Disabilities and the 9th National Special Olympic Games (12th NGD and 9th NSOG) will be held from November 9 to 21 and from December 8 to 15, 2025, respectively. The Hong Kong Special Administrative Region (HKSAR) Government has been maintaining close liaison with the General Administration of Sport of China (GASC), the China Disabled Persons’ Federation (CDPF), the People’s Government of Guangdong Province, and the Macao Special Administrative Region Government. In addition, the HKSAR Government has been working with the concerned National Sports Associations and other related organisations in Hong Kong to press ahead with the preparatory work. Bringing success to the 15th NG and the 12th NGD and 9th NSOG is a significant mission of the HKSAR Government this year, and they are also mega events. We will continue to dedicate the fullest efforts to taking forward the related work with a view to co‑hosting a “simple, safe and wonderful” 15th NG as well as 12th NGD and 9th NSOG in collaboration with Guangdong and Macao, and thereby deepening the exchanges and collaborations in sports between Hong Kong and the Greater Bay Area cities, and also their overall integrated development.
          
         Our reply to the question raised by the Hon Kenneth Lau is as follows:
     
     (1)(i) The 15th NG will have competition events for 34 sports and mass participation events for 23 sports. Hong Kong will host eight competition events (namely basketball (men U22), track cycling, fencing, golf, handball (men), rugby sevens, triathlon and beach volleyball) and one mass participation event (namely bowling). In addition, Hong Kong will assist Zhuhai and Shenzhen respectively in organising two cross-boundary events, namely road cycling and marathon.
     
         The 12th NGD and 9th NSOG will have competition events for 35 sports and mass participation events for 11 sports. Hong Kong will host four competition events (namely boccia, wheelchair fencing and table tennis (TT11) for NGD, and table tennis for NSOG) and one mass participation event (namely para dance sport).
          
         In view of the numerous events in the 15th NG and the 12th NGD and 9th NSOG, the Governments of Guangdong, Hong Kong and Macao are co-ordinating the overall schedules of the Games for submission to the GASC and the CDPF for approval. We will continue to liaise closely with the GASC, the CDPF as well as the Governments of Guangdong and Macao with a view to finalising the schedules of the 15th NG and the 12th NGD and 9th NSOG as soon as possible. The details will be announced in due course.
     
    (ii) Based on the competition prospectuses and guidelines promulgated by the GASC and the CDPF, it is estimated that about 1 800 and 700 athletes will participate respectively in the 15th NG events and the 12th NGD and 9th NSOG events in Hong Kong. In addition, it is estimated that about 1 000 delegation officials (including coaches, team physicians), 800 technical officials (including referees), and 750 members of the media will visit Hong Kong during the 15th NG and the 12th NGD and 9th NSOG.
     
    (iii) It is estimated that the events in Hong Kong will attract more than 100 000 spectators from Hong Kong, the Mainland and other regions.
     
    (iv) The Culture, Sports and Tourism Bureau (CSTB) is working with relevant government departments and organisations to launch territory-wide publicity and promotion campaigns through various online and offline channels, with a view to enhancing the awareness and interest in the 15th NG and the 12th NGD and 9th NSOG among different sectors of the community. The initiatives include conducting multi-channel publicity through traditional media, social media, city dress-up and roving exhibitions; organising community and school promotion programmes in co-operation with local organisations and schools; hosting feature events such as exchanges with athletes and sports experiential activities in collaboration with sports organisations; and launching a dedicated website and applications for digital marketing.
     
         The first stage of the publicity and promotion campaigns was launched during November to December last year to tie in with the one-year countdown to the 15th NG and the 12th NGD and 9th NSOG, which included rolling out a series of cityscape enhancement, roving exhibitions, publicity videos, thematic website (www.2025nationalgames.gov.hk) and social media pages (www.facebook.com/2025nationalgames.hk, www.instagram.com/2025nationalgames.hk) of Hong Kong for the Games. The second stage commenced in January this year, with initiatives including city dress-up and photo-taking spots featuring the mascots of the Games, enhancing the design of the thematic website, enriching social media content, etc. The third stage, covering the 100-day countdown, torch relay, etc, will begin in August 2025. We will do our utmost to foster a welcoming atmosphere and enhance the popularity and participation of the Games in Hong Kong, whilst encouraging Hong Kong people and tourists to watch the Games and cheer for the athletes.
     
    (v) Guangdong, Hong Kong, and Macao are discussing the ticketing plans and sales arrangements for the 15th NG and the 12th NGD and 9th NSOG. The three places will adopt the same sales platform. 
     
    (2) The competition venues for the events in Hong Kong, including the soon‑to-open Kai Tak Sports Park, have hosted various large-scale events and competitions previously, or undergone different drills and stress tests. The CSTB is, in collaboration with the relevant departments including the Hong Kong Police Force, the Transport Department, conducting a detailed assessment on the traffic and transport arrangements to and from the venues having regard to the transport facilities and capacity of the venues, their past experiences in staging competitions, and the number of participating athletes and spectators for each event.  We will formulate specific transport measures and special transport arrangements having regard to the assessment, and discuss with the various public transport operators on strengthening the public transport service as appropriate.
     
    (3) (i) to (iii) The recruitment of volunteers for the Hong Kong Volunteer Programme of the 15th NG and the 12th NGD and 9th NSOG was conducted from July to November last year. We received a total of over 30 000 applications for volunteer leaders or volunteers. In addition, about 2 000 young people aged between 15 and 17 have applied as youth volunteers. The selection interviews for volunteer leaders and volunteers were completed in January this year, and we plan to invite about 15 000 applicants to attend training. Individuals completing all the required training sessions will be appointed as the Games’ volunteers in Hong Kong. The final number of volunteers and their age distribution will only be available after completion of the whole recruitment exercise.
     
    (4) We are formulating the detailed volunteer deployment plan. We will take into account the nature and arrangements of individual events as well as the numbers of participating athletes and spectators, and thereby assessing the requirements for supporting services and the types of volunteer positions. We will also estimate the manpower requirement for different volunteer positions having regard to factors such as the skills required, the service hours and the place of work of the positions involved.
     
         All volunteers are required to attend basic training and position-related training. The basic training, lasting for about two days, will cover various areas including the background of the 15th NG and the 12th NGD and 9th NSOG and a brief introduction of the events in Hong Kong; the principles, code of practice and etiquette of volunteer work; communication, response and problem-solving skills; the ways of assisting people with disabilities and basic first-aid knowledge. Volunteer leaders are required to receive additional advanced training of about two days, covering the roles of volunteer leaders, the ways of handling unexpected situations, expectation management, mental health management, media handling skills, operation of volunteer management system, skills in leading and bonding volunteers. We will start the training for volunteer leaders in February this year and that for volunteers in general in March.
     
    (5) The response to the Hong Kong Volunteer Programme has been satisfactory, with the number of applicants succeeding in the selection far exceeding the original recruitment target of 10 000 volunteers. The volunteer applicants have already included members of civil service volunteer teams. At present, we have no plan to recruit additional volunteers.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Government receives report on flight arrangement issues from Greater Bay Airlines

    Source: Hong Kong Government special administrative region

         In relation to the cancellation of a number of flights in February and March by Greater Bay Airlines (GBA), the Government received the report and supplementary information submitted by GBA to the Civil Aviation Department (CAD) on January 29 and February 7 respectively, as requested by the Government.

         The report revealed that the main causes of the failure in flight scheduling were a lack of internal communication and a lack of co-operation from customer service operations. GBA indicated that it has conducted an in-depth review and taken necessary measures to contact all of the some-5 000 affected passengers and properly provide them with alternatives, including ticket refunds and transfers to alternative flights. In addition, GBA reassured that it is committed to providing passengers with stable and reliable services, and ensuring that similar incidents would not occur again in future.

         The report proposed a number of improvement measures, including strengthening internal management procedures for flight scheduling arrangements, enhancing internal communication on changes to flight schedules and destinations, ensuring fleet and manpower stability and reliability, and enhancing customer service’s ability to cope with unforeseen incidents.

         The Transport and Logistics Bureau and the CAD will closely follow up on the implementation progress of the various improvement measures proposed in the GBA report and supplementary information, with a view to preventing the recurrence of similar incidents. The Government will also continue to maintain close communication with GBA on its aviation network development, fleet and manpower situation, ensuring steady and orderly growth of local airlines while optimising the use of civil aviation resources.

         A summary of the report submitted by GBA on January 29 is at the Annex.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ7: Operation of government funds

    Source: Hong Kong Government special administrative region

    LCQ7: Operation of government funds
    LCQ7: Operation of government funds
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         Following is a question by the Hon Andrew Lam and a written reply by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, in the Legislative Council today (February 12): Question:      It is learnt that as at end-September last year, a total of 43 funds have been set up by various government bureaux and departments (B/Ds), which are segregated from the government accounts and administered by the relevant B/Ds. Some members of the public are concerned that while quite a number of funds have been set up for years with mechanisms being put in place by the relevant B/Ds to monitor the operation of such funds, there are still areas for improvements. In this connection, will the Government inform this Council: (1) as it is learnt that no expenditure was recorded for some funds such as the Sir David Trench Fund for Recreation (SDTFR) – Sports Aid for the Disabled Fund and SDTFR – Sports Aid Foundation Fund in the past nine financial years, whether the Government has reviewed the effectiveness of the relevant monitoring mechanisms; if so, of the details; and (2) whether the Government has regularly reviewed the utilisation and effectiveness of various funds, and introduced improvement measures (including considerations of merging funds with similar functions) to enhance the efficiency of fund management; if so, of the details? Reply: President,      Our consolidated reply to the question raised by the Hon Andrew Lam is as follows:      Under section 12(2) of the Public Finance Ordinance (Cap. 2), Controlling Officers shall be responsible and accountable for all expenditure from any head or subhead for which they are the Controlling Officer, and for all public moneys and Government property in respect of the department or service for which they are responsible. The relevant internal administrative guidelines of the Government further provides that, in managing purpose-specific funds, Controlling Officers should observe the need to strive to achieve maximum value for money and exercise prudence in the disbursement of government fund.      As the Education Development Fund has already ceased operations after the 2018/19 school year, there are currently a total of 42 funds which are segregated from the government accounts. Although these funds were set up for different purposes and in different mode, the Controlling Officers managing these funds have put in place an appropriate monitoring mechanism for each of these funds to ensure effective use of public financial resources. For instance, steering, management or advisory committees comprising representatives from relevant government bureaux/departments (B/Ds), relevant stakeholders and independent members were set up to oversee the funds’ operation, handle matters related to the funds and give advice. For funds established by law or in the form of a trust, the Controlling Officers should also ensure their operation complies with the relevant requirements of the law and provisions in the trust deed, including the submission of statements of the accounts and/or progress reports of the funds to the Director of Audit and the Legislative Council as required.      Controlling Officers will formulate and update strategic plans for achieving the purposes of the funds and develop appropriate performance measures for the funds under their purview. Controlling Officers will also conduct regular reviews on the use and effectiveness of the funds, and contemplate appropriate financial arrangements (such as considering whether to merge/retain the funds or implement relevant policy initiatives by other means, etc.) having regard to the policy objectives behind, the financial situation of the funds, views of stakeholders, etc., thereby ensuring effective and flexible use of public financial resources. In cases where there is no need to retain a fund as the policy objectives have been achieved (e.g. the Education Development Fund), the balance of the fund will be brought back to the government accounts.      There are some funds with no expenditure recorded in recent years (such as the J.E. Joseph Trust Fund and the Kadoorie Agricultural Aid Loan Fund), as these funds are loan funds in nature. Therefore, even though these funds are still in normal operation and loans are being granted in the accordance with the purposes of the funds, expenditure will only be recorded in the year when there are bad debts written off. As for the other funds (including the Sports Aid for the Disabled Fund and the Sports Aid Foundation Fund established under the Sir David Trench Fund for Recreation), the B/Ds concerned are reviewing their financial position and will examine whether there is the need to retain them.

     
    Ends/Wednesday, February 12, 2025Issued at HKT 11:18

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ19: Lifesaving services at swimming pools

    Source: Hong Kong Government special administrative region

    LCQ19: Lifesaving services at swimming pools
    LCQ19: Lifesaving services at swimming pools
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         Following is a question by the Hon Kenneth Fok and a written reply by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, in the Legislative Council today (February 12): Question:      It is learnt that the Leisure and Cultural Services Department has installed artificial intelligence (AI) drowning detection systems developed by the University of Hong Kong and France at the Kwun Tong Swimming Pool and the Sun Yat Sen Memorial Park Swimming Pool respectively to help strengthen lifesaving services at public swimming pools. In this connection, will the Government inform this Council: (1) whether the Government has examined the manpower and financial expenditure (including acquisition costs, installation costs and system maintenance fees) involved since the commissioning of the aforesaid two AI systems and reviewed their effectiveness; if so, of the details; if not, whether it will expeditiously commence the relevant work before the summer swimming season; (2) whether the Government has assessed and compared the actual operation of the aforesaid two systems, including their effectiveness, accuracy, ease of operation and interface with lifeguards and lifesaving mechanisms at swimming pools, with a view to providing a reference point for the retrofitting of such systems at more public swimming pools in the future; if so, of the details; if not, the reasons for that; and (3) given that according to a report released by the Office of The Ombudsman in March last year on its direct investigation into the regulation of licensed swimming pools by the Food and Environmental Hygiene Department (FEHD), the FEHD has not put in place an accident notification mechanism for licensed swimming pools, whether the Government will consider mandating private swimming pools to install AI drowning detection systems and establish a real-time notification mechanism to ensure that the FEHD and the relevant government departments can be expeditiously informed of drowning incidents, thereby enhancing regulatory efforts on private swimming pools; if so, of the details; if not, the reasons for that? Reply: President,      Having consulted relevant government departments, my reply to the questions raised by the Hon Kenneth Fok is as follows: (1) The Leisure and Cultural Services Department (LCSD) has all along prioritised the safety of swimmers in both the facilities as well as the operation of its venues. Apart from providing sufficient lifeguards, the LCSD has put on trial two different sets of artificial intelligence (AI) drowning detection systems at Kwun Tong Swimming Pool and Sun Yat Sen Memorial Park Swimming Pool respectively to assist lifeguards in monitoring the real-time condition of swimmers and locating drowning victims promptly with a view to further strengthening life-saving services.      The AI drowning detection system developed by the University of Hong Kong Sport AI Laboratory has been on trial at the outdoor secondary pool of Kwun Tong Swimming Pool since August 2023. Through AI detection technology, the system analyses the videos and images captured by cameras installed underwater and calculates the drowning probability of swimmers. If suspected drowning is detected, the system will alert the lifeguards to carry out a rescue. The system was developed with a grant of around $900,000 by the Innovation, Technology and Industry Bureau. The LCSD has subsequently installed additional sets of underwater detection devices and upgraded the existing sets of underwater cameras in the secondary pool. The project cost was around $700,000, with an estimated annual expenditure on system maintenance of around $130,000.           The AI drowning detection system developed by a French company was installed at the indoor main pool and training pool of Sun Yat Sen Memorial Park Swimming Pool in September 2024. The system uses cameras installed above the pools to capture images and performs comprehensive tracking and analysis of swimmers’ motions. If a swimmer is found to remain stationary for over 10 seconds, the system will consider it a case of suspected drowning, trigger the alarm and display the drowning location for lifeguards to carry out a rescue. Relevant installation cost of the system was about $7.9 million, with an annual maintenance cost of approximately $1.1 million. In addition, equipment and devices of the system require a comprehensive inspection every three years to ensure its stability and safety. The estimated cost of such inspection is around $500,000. (2) At present, the two detection systems mentioned above are still in trial phase. The LCSD needs to adjust the systems from time to time based on the actual environment and usage, and observe the operation of the systems in different seasons so as to ensure the stability and reliability of the data collected. Hence, a comprehensive set of data for assessment has yet to be available. Upon completion of tests and data analyses in different seasons, the LCSD will review and compare the cost-effectiveness of the two systems before deciding whether to extend the application of the systems to other public swimming pools. (3) To strengthen the regulation of licensed swimming pools, the Food and Environmental Hygiene Department (FEHD) has, in response to the recommendations of the Office of the Ombudsman, established a notification mechanism for fatal drowning cases in licensed swimming pools. In May 2024, the FEHD issued a letter to swimming pool licensees imposing new licensing conditions which require the reporting of cases involving casualties within a prescribed period. The FEHD officers will conduct site inspections for fatal drowning cases to ascertain whether the swimming pools concerned have provided sufficient life-saving attendants and appropriate life-saving equipment as required by the law and the licensing conditions. The FEHD will also examine the relevant cases and require the licensed swimming pools to take additional measures to further protect the safety of swimmers as necessary.      The FEHD and the LCSD share experience and exchange information from time to time on the regulation and management of swimming pools, including the application of technology to enhance swimmers’ safety. As the AI drowning detection system is still in the trial stage, the FEHD will maintain contact with the LCSD to understand the application of the system.

     
    Ends/Wednesday, February 12, 2025Issued at HKT 11:15

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  • MIL-OSI Asia-Pac: Defence Secretary meets multiple defence delegations at Aero India 2025

    Source: Government of India

    Posted On: 12 FEB 2025 8:00AM by PIB Delhi

    Defence Secretary Shri Rajesh Kumar Singh held a number of bilateral meetings on the sidelines of Aero India 2025 in Bengaluru on February 11, 2025. He held discussions with the Mozambican Defence Secretary Mr Casimiro Augusto Mueio; Secretary, Ministry of Defence of Sri Lanka Air Vice Marshal (Retd) Sampath Thuyacontha; Permanent Secretary of Defence, Suriname Mr Jayantkumar Bidesie; State Secretary of Mongolia Brigadier General Gankhayug Degvadorj; Secretary, Ministry of Defence, Nepal Mr Rameshwor Dangal; Permanent Secretary, Mauritius Mr Devendre Gopaul and Permanent Secretary, Democratic Republic of Congo Major General Lukwikila Metikwiza Marcel.

    The meetings focused on reviewing the ongoing defence cooperation and exploring ways to enhance the ties. In particular, the discussions centred on enhancing defence industrial cooperation. Later, the Defence Secretary also met Director of the International Directorate of the Directorate General of Armament, France Lt Gen Gael Diaz de Tuesta to discuss various joint projects and defence industrial cooperation.

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  • MIL-OSI Asia-Pac: Mahakumbh 2025: 10-15 Tons of Trash removed daily by Trash Skimmer from Triveni Sangam in Prayagraj

    Source: Government of India

    Posted On: 11 FEB 2025 10:33PM by PIB Delhi

    The Prayagraj Municipal Corporation is actively working to realize Prime Minister Shri Narendra Modi’s vision of Swachh Bharat, and keep the Triveni Sangam clean and pure. For this, trash skimmer machines have been installed, which remove 10 to 15 tons of waste daily from the Ganga and Yamuna rivers.

    The preparations for the world’s largest event, the Mahakumbh, began nearly four years ago when the trash skimmer machine was installed. Initially, this machine removed 50-60 quintals of waste daily. After observing its effectiveness, the Prayagraj Municipal Corporation bought another machine about two years ago, which doubled the pace of cleaning the rivers.

    Machine Capacity: 13 Cubic Meters

    The machines cleaning both rivers have a capacity of 13 cubic meters and cover a 4 km area in the river, from the Sangam to the boat club and beyond. These machines collect floating flowers, garlands, paper plates, incense wrappers, plastic, coconuts, clothes, etc., from the surface.

    Disposal of Waste at a Single Location

    Municipal Corporation officials state that the waste collected by the machines is disposed off at a designated spot near Naini. From there, it is transported daily by trucks to a plant located in Baswar, where the waste is separated into coconuts, plastic, and other materials. The plastic is sent for recycling, while other usable materials are turned into compost.

    What is a Trash Skimmer Machine?

    – A trash skimmer is used to collect floating waste from the surface of the water. This machine is employed to clean rivers, ports, and seas.

    – It collects plastic, bottles, religious waste, clothes, metal items, offerings, dead animals and birds, etc.

    – It also helps in removing water weeds (water hyacinth).

    How Does a Trash Skimmer Work?

    – The machine has gates on both sides, with conveyor belts inside them. These gates hydraulically close to trap the waste. Once collected, the waste is transferred onto the conveyor belt.

    – From there, it moves to an unloading conveyor belt, where it is disposed of.

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  • MIL-OSI Asia-Pac: LCQ10: Sampled results of Pre-Secondary One Hong Kong Attainment Test

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Chu Kwok-keung and a written reply by the Secretary for Education, Dr Choi Yuk-lin, in the Legislative Council today (February 12):
     
    Question:
     
         At present, the Government collects sampled results of the Pre-Secondary One Hong Kong Attainment Test (Pre-S1 HKAT) biennially in even-numbered years as the scaling tool in the Secondary School Places Allocation (SSPA) System to scale the internal assessment results of the coming cohorts of Primary Six students proceeding to Secondary One (S1). However, in light of the impact of the COVID-19 epidemic, the Government cancelled the sampling arrangements for the Pre-‍S1 HKAT 2020 and 2022, which were not resumed until 2024. As a result, the SSPA System 2023/2025 Cycle (SSPA 2023/2025) can only use the average of the sampled results collected in 2018 and 2024 as the scaling tool. There are views that the aforesaid two sets of sampled results, collected six years apart, cannot objectively and effectively reflect the actual performance of primary schools whose students are proceeding to S1 under SSPA 2023/2025, thus affecting the proportions of the students’ allocation bands. In this connection, will the Government inform this Council:
     
    (1) whether it will consider adjusting the arrangements for the use of sampled results under SSPA 2023/2025 as appropriate, including adjusting upwards the weighting of the sampled results collected in 2024; if so, of the details; if not, the reasons for that; and
     
    (2) whether it will consider reviewing in the long run the arrangements for the use of sampled results under the SSPA System, and adjusting the calculation of sampled results based on the principle of giving more weight to recent results than to more distant results; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         In order to compare the academic performance of students from different primary schools more objectively and fairly, a scaling mechanism is set up under the Secondary School Places Allocation (SSPA) System to measure and adjust students’ internal assessments of all primary schools participating in the SSPA for the purpose of determining students’ allocation bands. The Government has adopted the Pre-Secondary One Hong Kong Attainment Test (Pre-S1 HKAT) as the scaling tool with effect from SSPA 2005/2007 cycle, so as to reduce the incentive for drilling and alleviate students’ pressure.
     
         Our reply to the question raised by the Hon Chu Kwok-keung is as follows:
     
         The past data on the Pre-S1 HKAT demonstrate that test results between two adjacent cohorts of the same school are generally stable and could effectively and reliably reflect the overall performance of a school without the need to collect samples every year. Therefore, under the prevailing SSPA mechanism, samples of the Pre-S1 HKAT are collected by the Education Bureau (EDB) biennially and the average of the two recently sampled results is used as the scaling tool.
     
         Owing to the COVID-19 epidemic, the EDB cancelled the sampling arrangements for the Pre-S1 HKAT 2020 and 2022 after consultation with the school sector and announced the details to schools. After the epidemic, the sampling arrangement for the Pre-S1 HKAT 2024 has resumed, hence the sampled results of the Pre-S1 HKAT in the two most recent sampling years (i.e. 2018 and 2024) will be used as the scaling tool for SSPA 2025 and 2026. As for SSPA 2027 and 2028, reinstating the pre-epidemic scaling arrangements, the sampled results in 2024 and 2026 will be used as the scaling tool. It is evident that the time gap in sampling before the Pre-S1 HKAT 2024 is only transient due to the epidemic. The existing arrangements are objective, fair, proven effective, and in line with the aim of minimising the examination pressure of students. The school sector is well aware of the transient situation, and schools’ overall performance between two adjacent cohorts was generally stable. Having considered the above factors, the EDB currently has no plan to change the arrangements.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: English Translation of Prime Minister’s remarks at the India-France CEO Forum, Paris

    Source: Government of India (2)

    Posted On: 11 FEB 2025 11:59PM by PIB Delhi

    Your Excellency, President Macron,
    Industry leaders from India and France present here,
    Namaskar, Bonjour!

    I feel a wonderful energy, excitement and dynamism in this room. This isn’t just a normal business event.

    It is a confluence of the best business minds of India and France. The report of the CEO Forum that has just been presented is welcome.

    I see that all of you are moving ahead with the mantra of Innovate, Collaborate and Elevate. You are not just making boardroom connections. You all are also strengthening the Indo-French strategic partnership.

    Friends,

    It is a pleasure for me to join this forum with my friend President Macron. This is our sixth meeting in the last two years. Last year, President Macron was the Chief Guest at our Republic Day.

    This morning we had co-chaired the AI Action Summit together. I heartily congratulate President Macron for this successful summit.

    Friends,

    India and France are not just linked by democratic values. The foundation of our friendship is based on the spirit of deep trust, innovation, and public welfare.

    Our partnership is not limited to just two countries. We are cooperating together to address global problems and challenges. During my last visit, we had outlined the 2047 roadmap for our partnership. Following that, we are pursuing cooperation in a comprehensive manner in every field.

    Friends,

    Most of your companies are already present in India. You are active in different areas like aerospace, ports, defence, electronics, dairy, chemicals and consumer goods.

    I have had the opportunity to meet many CEOs in India as well. You are well aware of the changes that have taken place in India in the last decade. We have established a stable polity, and predictable policy ecosystem.

    Following the path of reform, perform, and transform, today India is the fifth largest economy in the world. It is the fastest growing major economy in the world.

    It will soon become the world’s third largest economy. India’s skilled young talent factory and innovation spirit are our identity on the global stage.

    Today, India is fast becoming a preferred global investment destination.

    We have launched AI, semiconductor and quantum missions in India. In defence, we are promoting Make in India and Make for the World. Many of you are associated with it. We are scaling new heights in space technology. This sector has been opened up for FDI. We are rapidly making India a global biotech powerhouse.

    Infrastructure development is a matter of priority for us. And on this, we are doing public expenditure of more than $114 billion a year. We have laid railway tracks on a massive scale, using technology to modernize and upgrade the railways.

    We are fast moving towards the target of 500 Gigawatts of renewable energy by 2030. For this, we have promoted solar cell manufacturing. We have also launched the Critical Mineral Mission.

    We have also taken up the Hydrogen Mission. For this, electrolyser manufacturing is being emphasized. By 2047, we are aiming for 100 gigawatts of nuclear power. I am happy to share that this sector is being opened up to the private sector. We are focusing on SMR and AMR technologies.

    Friends,

    Today India is becoming the biggest center of diversification and de-risking. A few days ago, a new generation of reforms were outlined in our budget.

    New steps have been taken for ease of doing business. In the last few years, we have rationalized more than 40,000 compliances. To promote trust-based economic governance, a high level committee for regulatory reforms has been formed. The custom rate structure has been rationalised.

    To facilitate international trade, “India Trade Net” is being introduced with the help of digital public infrastructure. We are bringing a new simplified income tax code towards Ease of Living.

    The National Manufacturing Mission has been announced. And, new sectors, such as the insurance sector, have been opened for 100 percent FDI. You must study all these initiatives carefully.

    Let me tell you all, this is the right time to come to India. Everyone’s progress is linked to India’s progress. An example of this was seen in the aviation sector, when Indian companies placed large orders for airplanes. And, now, when we are going to open 120 new airports, you can imagine the future possibilities for yourselves.

    Friends,

    The 1.4 billion people of India have resolved to build a developed India by 2047. Be it defence or advanced technology, fintech or pharma, tech or textile, agriculture or aviation, healthcare or highways, space or sustainable development. There are many opputunities for investments and collaborations in all these areas for all of you.

    I welcome you all to join India’s development journey.

    When France’s finesse and India’s scale meet…

    When India’s pace and France’s precision join…

    When France’s technology and India’s talent unite…

    Then, not just business landscape, but global transformation will happen.

    Once again, I thank you all very much for taking your precious time to come here.

    DISCLAIMER – This is the approximate translation of Prime Minister’s remarks. Original remarks were delivered

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Mahakumbh 2025: Extra Arrangements in place to transport Pilgrims to Mahakumbh on Magh Purnima

    Source: Government of India

    Mahakumbh 2025: Extra Arrangements in place to transport Pilgrims to Mahakumbh on Magh Purnima

    1200 additional buses reserved for return journey, with buses available every 10 minutes for rural areas

    750 shuttle buses prepared to take pilgrims to nearby locations from temporary bus stations, with frequency of  two minutes

    Posted On: 11 FEB 2025 10:26PM by PIB Delhi

    Prayagraj is experiencing a large influx of pilgrims and tourists into the Mahakumbh for the Magh Purnima bath. UP Roadways has made extensive preparations to facilitate this movement of people. In addition to the reserved buses, a fleet of shuttle buses is also ready to facilitate connectivity.

    1200 Reserved Roadways Buses for Pilgrims’ Return Journey, Available Every 10 Minutes 

    By the evening of February 11, 45 crore people had already bathed at the Triveni confluence during the Magh Purnima festival. The state government is working diligently to ensure that they return to their destinations in a safe and organized manner. Uttar Pradesh’s Minister of State for Transport, Shri Daya Shankar Singh, stated that for the successful handling of the main bathing festivals of Mahakumbh 2025, 1200 additional rural buses have been reserved. This will help ensure smooth transport, in addition to the already allocated 3050 buses for the Mahakumbh. These additional buses are specifically reserved for the Magh Purnima snan and the upcoming bathing festivals, ensuring that pilgrims face no inconvenience. Visitors arriving at the four temporary bus stations will find a Roadways bus available every 10 minutes.

    Shuttle Service for Mahakumbh Connectivity, every 2 Minutes

    With the massive number of pilgrims arriving for the Magh Purnima bath, temporary bus stations have been set up around the city, with Roadways buses stationed at each location. Additionally, 750 shuttle buses are ready to take pilgrims to nearby areas within the Mahakumbh zone. According to Roadways officials, these shuttles will operate every 2 minutes. Special arrangements have also been made to prevent overcrowding at the bus stations. The Transport Minister has instructed officials to ensure that pilgrims face no bus-related issues during the Amrit Snan and in the coming days.

    *****

    AD/VM

    (Release ID: 2102067) Visitor Counter : 51

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: 133 Ambulances, including 7 River and 1 Air Ambulance, deployed for Pilgrims on Magh Purnima

    Source: Government of India

    133 Ambulances, including 7 River and 1 Air Ambulance, deployed for Pilgrims on Magh Purnima

    43 Hospitals in Mahakumbh Nagar on High Alert, with high-tech arrangements for minor to major surgeries in every sector of the Mela

    Posted On: 11 FEB 2025 10:30PM by PIB Delhi

    The Government has made extensive preparations for the safety and health of the pilgrims, visiting the Mahakumbh at Prayagraj, for Magh Purnima. All hospitals in the Mahakumbh area, as well as in the city and district, will remain on high alert. Surveillance through water, land, and air will be in place to ensure the safety of pilgrims. Accordingly, 133 ambulances have been deployed to provide immediate relief in case of emergencies. This includes 125 ambulances, seven river ambulances, and one air ambulance specifically stationed.

    High-Tech Medical Services in every Sector of Mahakumbh

    State-of-the-art medical services are available in each sector of the Mahakumbh area. The facilities range from minor operations to major surgeries. Dr. Gaurav Dubey, the nodal medical officer of the Mahakumbh Mela, stated that the government’s emergency services, especially ambulance services, play a critical role. Over 2,000 medical staff will be deployed in the Mahakumbh area, and more than 700 medical personnel at SRN Hospital will remain on high alert.

    250 Beds Reserved at SRN, Blood Bank Fully Prepared

    As per special instructions from the administration, 250 beds have been reserved at SRN Hospital. Additionally, 200 units of blood are stored to handle emergencies. All 43 hospitals in Mahakumbh Nagar with a 500-bed capacity are fully operational.

    Hospitals Equipped with Modern Facilities

    Swaroop Rani Nehru Hospital has reserved 40 beds for the trauma center, 50 beds for the surgical ICU, 50 beds for the medicine ward, 50 beds for the PMSSY ward, and 40 beds for the burn unit. In addition, a 10-bed cardiology ward and a 10-bed ICU are also fully prepared.

    Special Focus on Medical Supervision and Cleanliness 

    To ensure smooth medical services, 30 senior doctors have been specially assigned, along with 180 resident doctors and over 500 nursing and paramedical staff. The hospital administration has instructed housekeeping agencies to ensure no negligence in cleanliness.

    Administration’s Commitment to Health Services

    Dr. Vatsala Mishra, Principal of Swaroop Rani Nehru Hospital, mentioned that all arrangements have been made to handle any emergency during the Magh Purnima bath. She appealed to the pilgrims to contact the hospital immediately in case of any health issues, assuring them of free and high-quality medical services.

    Deployment of Expert Doctors, 24-Hour Medical Service Available

    Along with 150 medical personnel from the AYUSH department, 30 expert doctors will be deployed to serve the pilgrims. Experts from AIIMS Delhi and BHU will also remain on alert.

    *****

    AD/VM

    (Release ID: 2102068) Visitor Counter : 49

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Dr. Mansukh Mandaviya to Inaugurate First-Ever Regional Dialogue on Global Coalition for Social Justice in New Delhi on 24-25 Feb 2025

    Source: Government of India

    Dr. Mansukh Mandaviya to Inaugurate First-Ever Regional Dialogue on Global Coalition for Social Justice in New Delhi on 24-25 Feb 2025

    Hosted by Ministry of Labour & Employment in collaboration with CII-EFI

    Coalition Theme is Responsible Businesses for Inclusive and Sustainable Societies

    Mr. Gilbert F. Houngbo, Director-General of the International Labour Organisation (ILO) to Deliver Keynote Address

    80+ Coalition partners from Asia Pacific region and beyond, including representatives from Governments, Employers’ and Workers’ Organizations, International Agencies, Research and Academic Institutions, International NGOs and Enterprises to Attend

    Participating Ministries include Ministry of Commerce & Industry, Ministry of Corporate Affairs, Ministry of External Affairs, Ministry of Skill Development and Entrepreneurship

    Posted On: 12 FEB 2025 5:41PM by PIB Delhi

    Ministry of Labour & Employment, Government of India, in collaboration with Confederation of Indian Industry (CII)-Employers’ Federation of India (EFI), is set to host the first-ever Regional Dialogue on Social Justice on 24-25 February 2025 at Bharat Mandapam in New Delhi. This landmark event is a significant contribution to the Global Coalition for Social Justice.

    Launched by ILO in 2023, the Coalition is a platform for governments, employers’ and workers’ organizations, international and regional organizations, financial institutions and development banks, enterprises, international non-governmental organizations and academia committed to advancing social justice and engaging in collaborative efforts to achieve shared objectives. The Coalition leverages collaboration among partners to amplify the unique strengths of each participant, comprehensively and coherently addressing social justice challenges.

    As a member of the Asia Pacific Coordinating Group, India is spearheading the first ‘Regional Dialogue’ under the Global Coalition for Social Justice and championing the key intervention “Responsible Businesses for Inclusive and Sustainable Societies” under the Coalition’s thematic area of “Expanding access to and capabilities for Productive and freely chosen Employment and Sustainable Enterprises.”

    The Regional Dialogue will bring together over 80+ Coalition partners from the Asia Pacific region and beyond to explore innovative approaches, exchange best practices, and strengthen collaboration to advancing social justice in the region.

    Hon’ble Union Minister for Labour & Employment, Dr. Mansukh Mandaviya, Hon’ble Minister of State for Labour & Employment, Sushri Shobha Karandlaje and Secretary (Labour& Employment), Ms. Sumita Dawra will grace the inaugural session of this regional dialogue. The event will feature Mr. Gilbert F. Houngbo, Director-General of the ILO, as the keynote speaker.

    The event will also mark the 74th Foundation Day of the Employees’ State Insurance Corporation (ESIC), celebrating its unwavering commitment to ensuring dignified healthcare and economic security for India’s workforce. The ESIC Foundation Day is an occasion to recognize the vital contribution of the organization in fostering social justice through the extension of comprehensive social security benefits for workers and their families in the formal sector. 

    Discussions will focus on critical dimensions of social justice, including responsible business conduct and social protection, aligning with the Coalition’s thematic priorities.

    The event will feature exchange of knowledge and experience sharing through technical discussions and coalition partner’s experiences. The deliberations would strengthen the joint collaboration among partners in the area of promoting social justice in the region.

    Key themes include:

    • Skills, Employment and Social Justice: Empowering Youth and Enterprises for Inclusive and Sustainable Growth
    • Social Protection to Social Justice: Ensuring No One is Left Behind
    • Responsible Businesses: Upholding Fair Working Conditions, Safety, and Health for Enhanced Productivity and Sustainability
    • Building a Bigger Table: Promoting Inclusion and Women’s Participation in the World of Work
    • Advancing Decent Work: Strengthening Corporate Governance and Sustainable Global Value Chains
    • Digitalization for Social Justice – Harnessing AI for Decent Work and Equity

    Key Stakeholders: The thematic dialogue will bring together Coalition partners and other key stakeholders, including representatives from governments, employers’ and workers’ organizations, international and/or regional organizations, research organizations, academia, international NGOs and enterprises.

    Event Highlights

    Day 1 | 24 February 2025

    The first day of the Regional Dialogue on Social Justice will commence with an Inaugural Session. Key highlights include the showcasing of Responsible Business Conduct by Indian employers’ organisation and international business chambers, a joint statement of workers and employers organisations on responsible business practices, and the launch of publications on social justice and social protection. Technical sessions will focus on skills and employment for youth, social protection for informal workers, and promoting women’s participation in the workforce, featuring insights from global partners and stakeholders.

    Day 2 | 25 February 2025
    The second day will delve into responsible business practices, emphasizing fair working conditions, occupational safety, and health, with contributions from the International Organizations and foreign business chambers. Discussions on sustainable global value chains will highlight the role of multinational enterprises in advancing decent work and ethical labour practices. The final session will explore digitalization and AI as tools for social justice, focusing on equitable access, worker rights, and aligning AI with the Sustainable Development Goals (SDGs).

    *****

    Himanshu Pathak

    (Release ID: 2102377) Visitor Counter : 58

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: Congo: CLG Experts Unpack Upcoming Gas Code and Investment Opportunities

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

    BRAZZAVILLE, Republic of the Congo, February 12, 2025/APO Group/ —

    The matter of the gas code will undoubtedly be discussed at the Congo Energy & Investment Forum, taking place from March 24-26, 2025, in Brazzaville. This regulatory milestone aims to provide a clear and structured framework for gas exploration, production and commercialization, boosting investor confidence and unlocking the full potential of the country’s vast natural gas reserves. As part of the forum, CLG Congo, a leading legal and commercial advisory firm in the energy sector, will play a key role in discussions surrounding regulatory reforms. In an interview with Energy Capital & Power (ECP) (www.EnergyCapitalPower.com), Yves Ollivier, Managing Director and Daoudou Mohammad, Director of Tax & Legal at CLG, shared their insights on the country’s upcoming Gas Code, regulatory landscape and upcoming opportunities. 

    Please provide an overview of CLG’s current activities in the Congo, particularly in relation to the energy sector? 

    CLG Congo is a leading provider of legal, tax, and commercial advisory services, working closely with oil and gas companies. In 2024, CLG was involved in Trident Energy’s acquisition of Chevron and TotalEnergies’ interests in the Lianzi, Nkosa and Nsoko 2 and Moho Bilondo fields. Trident now holds15,75% in Lianzi field, 85% in Nkosa and Nsoko 2 fields and 21.5% in Moho-Bilondo. To expand our client base, we actively participate in major energy events, such as African Energy Week in Cape Town and are honored to partner with Capital Energy & Power as legal counsel for CEIF 2025. 

    How does the Republic of Congo’s legislative framework impact foreign investment in hydrocarbons? 

    Historically, about 80% of direct investments in the country come from oil and gas, reflecting its economic dependence on hydrocarbons. To enhance investment conditions, the government has created investment promotion structures, including a Public-Private Partnership (PPP) Agency and a dedicated Ministry for International Cooperation and for Public-Private Partnership. 

    The 2016 Hydrocarbons Code introduced competitive bidding for exploration rights, increasing transparency and investor confidence. However, a Gas Code is still needed to provide a specific legal framework for natural gas investments. The current draft, developed with international institutions, aims to secure foreign capital and streamline regulations for a more competitive and structured industry. 

    What fiscal incentives does Congo offer to attract energy investments? 

    The government provides among others, corporate tax exemptions and progressive tax reductions for oil and gas projects, negotiated within the Production Sharing Contracts. Companies also benefit from customs incentives, such as the IM5 temporary import regime, allowing tax-free equipment imports under the condition of re-export. These measures lower entry costs for investors and enhance profitability. 

    What are the key expectations from the Gas Code and how could the regulatory framework improve investment conditions? 

    The Gas Code, expected in 2025, will provide a clear legislative framework for gas monetization, fiscal terms, and resource management. The draft was presented to gas companies in late 2023, and after modifications, is set for final approval. Additionally, the Gas Master Plan, developed by SNPC and McKinsey, aims to boost investment and expand gas utilization in Congo. 

    Another key issue is the VAT decree (2023-1337), which extends VAT to previously exempt oil and gas operations. There are ongoing discussions between the government and industry players to find a compromise that suits all parties. 

    How does the regulatory framework impact local content development in the oil and gas industry? 

    Despite 2019 local content decrees, enforcement remains a challenge. The law mandates 70% Congolese employment in management roles, but lacks clear compliance mechanisms. Companies try to follow the guidelines, but without effective monitoring, implementation varies. Strengthening verification processes is essential for sustainable workforce development in the sector. 

    What are your key expectations for the Congo Energy & Investment Forum 2025? 

    We see this as an opportunity to engage with foreign investors and showcase Congo’s gas potential, which includes proven reserves of 284 billion cubic meters and significant ongoing projects such as Eni’s Tango FLNG and Wing Wah’s Banga Kayo Gas Project. The forum will allow direct dialogue with policymakers, enabling us to propose solutions for industry challenges such as the Gas Code finalization and fiscal reforms. We also aim to highlight investment opportunities and regulatory reforms. Discussing topics like the Gas Code, VAT decree, and Hydrocarbons Code updates is crucial to ensuring a competitive and attractive investment environment. 

    MIL OSI Africa –

  • MIL-OSI Submissions: Update on December 2024 and January 2025 rental data

    Update on December 2024 and January 2025 rental data

    The national-level stock measure for actual rentals for housing for December 2024 and January 2025 will be included in Selected price indexes: January 2025, which is due out on Friday 14 February.  

    The administrative data used for this measure is provided by the Ministry of Business, Innovation and Employment (MBIE), which recently upgraded their tenancy bond-lodgment system. The stock measure was not included in last month’s SPI release as time was needed to integrate the new system’s data into the rental price indexes.  

    The completed update does not affect the results for the December 2024 quarter consumers price index (CPI), so no revision is required.

    The release does not include the flow of rental properties measures (national and regional) as we are still working to integrate the new system’s data for these measures. The flow measures, which do not affect the CPI, will be included when we are confident they meet customer expectations.  

    Stats NZ would like to thank MBIE and the Ministry of Housing and Urban Development (HUD) for collaborating on this work and making it possible to release the latest data. We will provide a further update in due course.

    If you have any questions, please contact our Information Centre at info@stats.govt.nz.

    Ends

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    MIL OSI –

  • MIL-OSI New Zealand: Housing Market – Subtle turning point for property sellers – CoreLogic

    Source: CoreLogic

    New Zealand’s property market is showing early signs of a gentle turnaround, giving resellers a glimmer of renewed leverage after a prolonged downturn.

    CoreLogic NZ’s latest Pain & Gain report for Q4 2024 shows the proportion of properties being resold for more than the original purchase price was 91.0%, up from 90.1% in Q3 2024.
    However, that’s still low compared to the post-COVID boom when more than 99% of properties typically sold for a profit.

    CoreLogic NZ Chief Property Economist Kelvin Davidson said the small rise suggests resale conditions are gradually improving, aligning with broader signs of a market turnaround.

    “While profits are down from the peak, most property resellers continue to see gains.

    “The latest increase in the frequency of resale profits supports other indicators that the market may have found a floor, largely due to recent mortgage rate falls.

    “However, with property values still about 18% below their peak and the overhang of listings keeping buyers in a strong position, selling conditions remain subdued, he said.

    Regaining ground
    Mr Davidson said while buyers still have the upper hand, resellers may be regaining ground as profits grow.

    “In Q4, the typical size of reseller gains ticked up to $289,500 from $279,000 in the third quarter of last year.

    “While the figure is still low compared to the peak in late 2021 of $440,000, it’ still larger than anything we saw prior to Q4 2020.

    “On the flipside, the median resale loss was unchanged at $55,000 in Q4, remaining within the $50,000–$60,000 range seen over the past two years,” he said.

    Mr Davidson added that although these profits are still significant and losses small, it’s important to acknowledge two extra factors.

    “Hold period plays a key role, and even in a downturn, anybody who has owned property for several years will still tend to make a profit. For owner-occupiers it’s not necessarily a cash windfall either. Indeed, most equity will just need to be recycled back into the next purchase.”

    Holding out
    In Q4 2024, sellers who resold for a gross profit held their properties for a median of 9 years, up from 8.6 years the previous quarter.

    Mr Davidson said this could reflect caution amid softer market conditions, with many choosing to wait for more favourable opportunities.
    “In some cases, particularly for investors, a target return strategy has meant holding properties longer due to the slower housing market over the past 2-3 years.

    “However, it may also reflect weaker housing sentiment and greater caution, with owners opting to ride out the current soft patch before testing the market,” he said.

    Losses ease  
    Mr Davidson said resale performance across property types suggested a turning point, with incurred losses starting to ease.

    “In the fourth quarter of the year apartment resales incurred a loss on 29.5% of deals, compared to 8.3% for standalone houses.”

    “Although the apartment figure clearly remains high, it dropped from 31.8% in the third quarter of last year. Whereas the ‘pain’ percentage of houses fell from 9.1% in Q3,” he said.

    Falling rates to boost confidence
    Looking ahead, Mr Davidson expects that lower mortgage rates will push up house prices to some extent in 2025, which will tend to strengthen the position for property resellers.

    “But any turning point for house prices won’t be sudden or strong, and lingering weakness in the labour market alongside an abundance of listings should mean finance-approved buyers continue to see good opportunities,” he concluded.

    Read CoreLogic’s latest Pain & Gain report at www.corelogic.co.nz/news-research/reports/pain-and-gain-report.

    About CoreLogic
    CoreLogic NZ is a leading, independent provider of property data and analytics. We help people build better lives by providing rich, up-to-the-minute property insights that inform the very best property decisions. Formed in 2014 following the merger of two companies that had strong foundations in New Zealand’s property industry – Terralink Ltd and PropertyIQ NZ Ltd – we have the most comprehensive property database with coverage of 99% of the NZ property market and more than 500 million decision points in our database.
    We provide services across a wide range of industries, including Banking & Finance, Real Estate, Government, Insurance and Construction. Our diverse, innovative solutions help our clients identify and manage growth opportunities, improve performance and mitigate risk. We also operate consumer-facing portal propertyvalue.co.nz – providing important insights for people looking to buy or sell their home or investment property. We are a wholly owned subsidiary of CoreLogic, Inc – one of the largest data and analytics companies in the world with offices in New Zealand, Australia, the United States and United Kingdom. For more information visit corelogic.co.nz.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: WAVES Young Filmmakers Challenge

    Source: Government of India

    Posted On: 12 FEB 2025 5:33PM by PIB Delhi

    Igniting Creativity in the Next Generation

    Introduction

    The WAVES Young Filmmakers Challenge, organised by Whistling Woods International in partnership with the Ministry of Information and Broadcasting, offers an exciting platform for budding storytellers aged 12 to 19 to step into the world of filmmaking. Designed to spark creativity, enhance digital literacy, and refine storytelling skills, the challenge invites young creators to craft compelling 60-second films. As a key part of the World Audio Visual Entertainment Summit (WAVES), it encourages children and teens to explore their imagination and share their perspectives through short-form storytelling.

    WAVES, scheduled to take place from 1 to 4 May 2025 at the Jio World Convention Centre and Jio World Gardens in Mumbai, will serve as a premier forum for discussions, collaboration, and innovation in the media and entertainment industry. The event will bring together industry leaders, stakeholders, and innovators to explore new opportunities, address challenges, and drive growth in India’s M&E sector.

    Central to WAVES is the Create in India Challenges, a flagship initiative by the Ministry of Information and Broadcasting, Government of India. With over 70,000 registrations and 31 challenges launched, this initiative has drawn creative minds from across the world. By fostering a thriving ecosystem of innovation, the challenges aim to position India as a global hub for media and entertainment.

    Key Objectives

     

    • Inspire Creativity: Provide a fun and supportive platform for young filmmakers to express their creativity and originality through film.

     

    • Promote Storytelling: Encourage participants to develop engaging and imaginative stories that resonate with young audiences.

     

    • Build Confidence: Empower children and teens by giving them the opportunity to showcase their talent on a global stage.

     

    • Celebrate Diversity: Highlight the diverse perspectives and narratives that young filmmakers bring to the screen.

     

    Judging Criteria

     

    Registration Guidelines

     

    Timelines of the Challenge

    • Will run from September 2024 to 15 February 2025.

     

    • The first round focuses on filmmaking, creativity, and teamwork.

     

    • Top 10 participants from each category will attend a two-day workshop with filmmaker Amole Gupte at Whistling Woods International, Mumbai, on 7 and 8 March 2025.

     

    • Shortlisted teams can reshoot their films and submit the final version by 15 April 2025.

     

    Awards and Recognition

    • Shortlisted films will be showcased at a dedicated WAVES session, where winners will be announced.

     

    • Winners in each age category will receive complimentary travel and stay at WAVES.

     

    • Winners will gain recognition, mentorship, scholarship opportunities, access to online filmmaking courses, and certificates of achievement.

     

    • All participants will receive feedback to support their growth as young filmmakers.

     

    References:

    Click here to see PDF:

    Santosh Kumar/ Sarla Meena/ Saurabh Kalia

    (Release ID: 2102365) Visitor Counter : 22

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Government approves implementation of transportation component of Market Intervention Scheme for Tomato through NCCF

    Source: Government of India

    Posted On: 12 FEB 2025 5:25PM by PIB Delhi

    In view of the falling prices of tomato in Madhya Pradesh, Maharashtra and other major producing states, Government of India has taken decision to implement the transportation component of Market Intervention Scheme (MIS). Under this scheme where there is a difference in the price of TOP crops (tomato, onion and potato) between the producing and consuming States, the operational cost incurred in storage and transportation of crops from the producing State to other consuming States will be reimbursed to Central Nodal Agencies (CNA) like NAFED and NCCF, in the interest of farmers of producing states.

    Considering the steep drop in tomato prices, Union Agriculture Minister Shri Shivraj Singh Chouhan has approved implementation of transportation component of MIS for Tomato in Madhya Pradesh through NCCF. NCCF is making arrangements to start the transportation operations soon.

     

    ******

    MG/KSR

    (Release ID: 2102360) Visitor Counter : 70

    Read this release in: Hindi

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Dr Jitendra Singh will preside over the 12th All India Pension Adalat to be held on 13th February, 2025

    Source: Government of India

    Dr Jitendra Singh will preside over the 12th All India Pension Adalat to be held on 13th February, 2025

    Department of Pension and Pensioners’ Welfare (DoPPW) is conducting the 12th All India Pension Adalat with focus on resolution of long outstanding Pension Cases pending for more than 120 days in 16 Departments/Ministries

    Posted On: 12 FEB 2025 5:20PM by PIB Delhi

    The Department of Pension and Pensioners’ Welfare will conduct the 12thNation-wide Pension Adalat under the chairmanship of Dr. Jitendra Singh, Minister of State for Ministry of Personnel, Public Grievances and Pensions at New Delhi on 13th February, 2025. The Adalat will be conducted in the presence of Shri V Srinivas, Secretary, DoPPW, Ms  Shankari Murali, Addl, CGA, Shri A N Das Addl CGDA, Ms Deepika Jain, CC (Pension), Shri Rokhum Lal Remruata, CCA (MHA) and Shri Dhrubajyoti Sengupta, JS (DoPPW). The cases which have been pending for more than 120 days for redressal shall be taken up in the Adalat. Senior officers and nodal officers from16 Departments will be participating in the Adalat.

    Redressal of pensioner’s Grievances is a high priority area for the Government. Keeping in view the mandate to ensure welfare of Central Government pensioners, Pension Adalats are organized by DOPPW. These Pension Adalats provide a single platform where the concerned stakeholders, viz., Ministries/Departments/CPAO/ Banks are brought together for on-the-spot resolution of long pending grievances, to the satisfaction of the petitioner. Pension Adalats also provide an additional forum for redressal of pension related grievances obviating the need to approach Courts for litigation.

    With a view to redress chronic grievances, the system of holding Pension Adalat has been introduced since September, 2017 when the first Pension Adalat was held.  Continuing this initiative forward, till December, 2024, eleven Pension Adalats, including thematic Pension Adalats have been organised.

    In all Pension Adalats across the country, 18,005 cases have been resolved with a success rate of more than 71 percent.

    The 12th Pension Adalat will focus on resolution of long outstanding Pension Cases. The Pension Adalat would be attended by 16 Ministries/Departments including Ministry of Home Affairs, Ministry of Defence, CPAO, CBDT, Ministry of Housing & Urban Affairs, Ministry of Railways amongst others. 180 cases pertaining to Ministries will be discussed.

    The Department of Pension & Pensioners’ Welfare seeks to ensure empowerment of Central Government pensioners through such Pension Adalats, by speedy resolution of their grievances.

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    NKR/PSM

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  • MIL-OSI Asia-Pac: ATDC and SECL Sign MoU to Empower 400 Unemployed Youth from Chhattisgarh and Madhya Pradesh

    Source: Government of India

    Posted On: 12 FEB 2025 5:20PM by PIB Delhi

    A Memorandum of Understanding (MoU) was signed today between Apparel Training & Design Centre (ATDC), Gurugram, and South Eastern Coalfields Limited (SECL), a Bilaspur based CIL Subsidiary under the jurisdiction of Ministry of Coal, for a vocational training program aimed at uplifting under privileged youth from economically weaker sections of society. The agreement was signed in the  august presence of Ms. Rupinder Brar, Additional Secretary, Ministry of Coal and Ms. Santosh, DDG  Ministry of Coal at Shastri Bhawan, New Delhi. The Additional Secretary extended her congratulations to the SECL CSR team for taking proactive and forward-thinking steps in implementing the vocational training program with ATDC.

    The program, which is part of SECL’s Corporate Social Responsibility (CSR) initiatives, is set to benefit 400 candidates, providing them with the skills needed for self-employment. A total of Rs. 3.12 Crore will be allocated for the initiative. Under this agreement, ATDC will establish training centers for 300 candidates in a non-residential self-employed tailor program across SECL Bishrampur, Sohagpur and Korba areas. Additionally, 100 candidates will undergo a fully residential program at the ATDC training center in Chhindwada, Madhya Pradesh, which will include free boarding and lodging. These candidates will be selected from within a 25-kilometer radius of SECL’s establishments.

    The MoU signing ceremony was attended by Shri Biranchi Das, Director (P), SECL; Shri Rakesh Vaid, Senior Vice Chairman, ATDC; Dr. Vijay Mathur, Director General and CEO, ATDC; Shri Alok Kumar, General Manager (Civil/CSR), SECL; along with officials from SECL and ATDC. Under the guidance of the Minister of Coal, this initiative strives to empower underprivileged youth in coalfield regions, create employment opportunities, and contribute to the vision of Viksit Bharat.

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    Shuhaib T

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