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  • MIL-OSI: Netcompany enters into an agreement with SDC to create ‘the future of banking services’

    Source: GlobeNewswire (MIL-OSI)

    Company announcement (inside information)
    No. 09/2025

                                                     10 February 2025

    Netcompany Group A/S (“Netcompany”), SDC A/S, (“SDC”), and a majority part of the shareholders of SDC have today entered into an agreement of a transaction whereby a newly formed company of Netcompany and SDC will merge into a combined company fully owned by Netcompany. Together, Netcompany and SDC will create innovative and best-in-class banking solutions and services to the benefit of current banks running on SDC’s platform, as well as for new banks to be onboarded to the platform in the future.

    The transaction values SDC at DKK 1 billion and will include a cash payment of DKK 1 billion from Netcompany to SDC’s shareholders. The cash consideration is funded by way of utilising current credit facilities.

    Closing of the transaction is expected to take place around mid-2025, subject to regulatory and other customary conditions.

    Strategic rationale
    The transaction with SDC provides a strong foothold for Netcompany in the financial services industry, which is the highest spending vertical within IT services in Europe. In 2025, the total addressable market in DK, NO, and SE is estimated to be more than DKK 44 billion and the market is expected to grow more than 10% annually towards 2028, supporting Netcompany’s ambition of delivering continued sustainable organic growth.

    Within the financial services industry, Netcompany offers a solid product and platform suite, including AMPLIO, mit.dk, AMI and EASLEY, combined with products from Festina Finance such as Festina Advisor and Festina Life and Pension. These products and platforms supplemented by SDC’s core banking platform will be the foundation of ‘the future of banking services’. Together, Netcompany and SDC will improve the banking experience for bank customers, as well as bank employees and advisors, by introducing improved and personalised advice, self-service solutions, and end-to-end digital processes to support activities such as housing journeys and onboarding, through new industry-specific and vendor-independent banking services.

    Following the transaction, the combined workforce of Netcompany and SDC is more than 9,200 FTEs.

    André Rogaczewski, CEO Netcompany states:
    “I am thrilled to announce that we have successfully agreed on a transaction with the majority shareholders of SDC. This strategic move marks a significant milestone for Netcompany, and it aligns with our Go-To-Market strategy to expand our capabilities and enhance our service offerings within the financial services industry.
    Digitalisation is the key driver for strengthening Europe’s most critical societal areas – including the financial services industry. Netcompany already provides the digital foundation with our products and platforms in the areas of pension, customs and tax, transport and logistics, and now we are going to do the same in the financial services industry. With SDC’s core banking platform and Netcompany’s innovative DNA, products, and platforms, we are looking into unprecedented opportunities for the entire banking sector. The goal of this transaction is to create innovative and best-in-class services in Denmark, Scandinavia, and the rest of Europe, to the benefit of current and future customers, thereby adding substantial value for our shareholders and stakeholders.”

    Klaus Skjødt, Chair SDC states:
    “This is a significant milestone in SDC’s history, as we are now building upon past investments in the market’s most modern core banking platform and future-proofed online and mobile banking. Together with Netcompany, we have a shared ambition to make the banking sector a driving force for digital innovation, setting new standards for the advice and service customers can expect from their bank. We will achieve the scale and development power necessary to enhance our competitiveness and create the market’s strongest banking experience.”

    About SDC

    • SDC is a prominent IT service provider headquartered in Ballerup, Denmark, specialising in delivering comprehensive IT solutions to the financial services industry across the Nordic region.
    • SDC was founded in 1963 and offers a wide range of services, including core banking systems, digital banking solutions, and regulatory compliance tools.
    • At the end of 2024 SDC’s workforce counted 980 FTEs in three countries.
    • Prior to closing of the transaction, SDC is owned by its member banks. SDC functions as the internal IT department of the member banks, which are also in turn customers of SDC, as well as other commercial non-member banks.
    • In 2023, SDC realised revenue of DKK 1,837 million and EBITDA of DKK 286.8 million.
    • For additional information: https://www.sdc.dk/

    About Netcompany

    • Netcompany is a leading IT services company headquartered in Copenhagen, Denmark, with a strong focus on digital transformation in Europe.
    • Netcompany was founded in 2000 and delivers innovative and high-quality solutions to both public and private sector clients.
    • At the end of 2024 Netcompany’s workforce counted 8,260 FTEs in nine countries.
    • In 2024, Netcompany realised revenue of DKK 6,540.6 million and adjusted EBITDA of DKK 1,097.9 million in 2024.
    • For additional information: https://www.netcompany.com/

    Summary of the transaction

    • Netcompany will acquire 100% of the shares in SDC for a cash consideration at closing of DKK 1 billion.
    • Netcompany will make the acquisition through a newly formed company – Netcompany Banking Services A/S – which will be merging with SDC and as a consequence resulting in a fully owned subsidiary of Netcompany in which the activities of SDC are fully embedded.
    • The cash consideration is funded by way of utilising current credit facilities. The transaction will be fully debt financed within the existing covenants.
    • Due to integration costs, the transaction is expected to have a dilutive impact on EPS for the financial year 2025.
    • The transaction is expected to be EPS accretive to Netcompany from 2026 compared to 2024. Furthermore, the transaction is expected to be double-digit percentage EPS accretive by 2028 – also compared to 2024.
    • The transaction is subject to regulatory approvals in Denmark, Norway, and Faroe Island and other customary conditions.
    • Netcompany and the majority shareholders, who will continue as customers in the newly formed company after closing, will enter into a commercial IT-framework agreement (to enter into effect after closing) based on an already agreed term sheet. The agreed term sheet includes key provisions on the continued delivery of the current as-is services on a commercial market conform delivery and payment basis, a governance model with continued involvement of Netcompany and the bank customers, a fair and market-based exit model, and the transformation of the SDC platform to create ‘the future of banking services’.
    • As the agreed transaction structure is set as a merger, the closing of the transaction will formally require a two-thirds approval at a general meeting in both Netcompany’s newly formed company and SDC. The majority shareholders representing 70.94% of the outstanding share capital and voting rights in SDC have at signing of the agreement with Netcompany irrevocably provided their commitment to vote for the merger.
    • The remaining shareholders, and customers of SDC, will be given the opportunity to enter into a commercial IT-framework agreement with Netcompany on the same terms as the majority shareholders and irrevocably provide their approval to vote for the merger.

    Financial Guidance
    Financial guidance for 2025 for Netcompany on a stand-alone basis, as provided in the Annual Report 2024, is based on organic performance metrics and hence maintained. Organic revenue growth is expected between 5% and 10% and adjusted EBITDA margin between 16% and 19%.

    Netcompany expects to reinitiate it’s share buyback programmes after closing of the transaction and expects leverage at the end of 2025 to be around 1.5x.

    Webcast
    In connection with the publication of the merger, Netcompany will host a conference call on Monday, 10 February 2025 at 8.15 am CET. The conference call will be held in English and can be followed live via the company’s website; www.netcompany.com

    Dial-in details for investors and analysts:
    DK: +45 78 76 84 90
    UK: +44 20 3769 6819
    US: +1 646 787 0157

    PIN: 598046

    Webcast Player URL: https://netcompany-as.eventcdn.net/events/webcast-10-februar-2025

    Additional information
    For additional information, please contact:

    Netcompany Group A/S
    Thomas Johansen, CFO, +45 51 19 32 24
    Frederikke Linde, Head of IR, +45 60 62 60 87

    Disclaimer
    This announcement contains forward-looking statements that reflect Netcompany’s current expectations and views of future events. Some of these forward-looking statements can be identified by terms and phrases such as “estimate”, “expect”, “target”, “plan”, “project”, “will” and similar expressions. These forward-looking statements include statements relating to: the expected characteristics of the combined company; expected financial results and characteristics of the combined company; expected timing of the launch and closing of the proposed transaction and satisfaction of conditions precedent, including -regulatory conditions; and the expected benefits of the proposed transaction, including related synergies. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such statements. These forward-looking statements are based on our beliefs, assumptions, and expectations of future performance, taking into account the information currently available to us. These statements are only predictions based upon our current expectations and projections about future events. Risks and uncertainties include: the ability of Netcompany to integrate SDC into Netcompany’s operations; the performance of the global economy; the capacity for growth in internet and technology usage; the consolidation and convergence of the industry, its suppliers and its customers; the effect of changes in governmental regulations; disruption from the proposed transaction making it more difficult to maintain relationships with customers, employees or suppliers; and the impact on the combined company (after giving effect to the proposed transaction with SDC and the shareholders of SDC) of any of the foregoing risks or forward-looking statements, as well as other risk factors listed from time to time in Netcompany’s public disclosures. The forward-looking statements should be read in conjunction with the other cautionary statements that are included elsewhere, including the risk factors included in any public disclosures of Netcompany. Any forward-looking statements made in this announcement are qualified in their entirety by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by us will be realised or, even if substantially realised, that they will have the expected consequences to, or effects on, us or our business or operations. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

    Attachment

    The MIL Network –

  • MIL-OSI USA: ICYMI—Hagerty Joins Face the Nation on CBS to Discuss Trump’s Government Reform

    US Senate News:

    Source: United States Senator for Tennessee Bill Hagerty

    PALM BEACH, FL—United States Senator Bill Hagerty (R-TN), a member of the Senate Appropriations, Banking, and Foreign Relations Committees and former U.S. Ambassador to Japan, today joined Face the Nation on CBS to discuss President Donald Trump reforming the Executive Branch through eliminating wasteful spending and unnecessary government programs.

    *Click the photo above or here to watch*

    Partial Transcript

    Hagerty on Trump’s buyout to federal workers: “Eventually, it will save taxpayers money. I think what President Trump is trying to do is be humane in the process of allowing them to make plans to find other employment. But I certainly think the government is far too big, far too bloated, and we’re on a path now to start to see it shrink. This is the first step only, but we’re moving in the right direction […] What we’ll see, Margaret is each agency go through a top to bottom review to decide exactly what they need to do to deliver on behalf of the American public. As you know, there’s been a lot of consternation and pearl clutching about the activities of Elon Musk and his team, but their charge, led by President Trump, is to go in and find efficiencies, find opportunities, and frankly, deliver more of taxpayer dollars to the actual programs that are intended, less to overhead an Administration […] I’m from the private sector, Margaret, my entire background has been in business. This is the way you do it. You come in, you look at the opportunities before you—President Trump has brought a new Administration in—this is not unusual to take a hard look at these programs and also to look for opportunities to cut bloat and waste. Look, we’re 36 trillion dollars in debt. Clearly, the American public Needs to see more accountability, more visibility, more performance for their taxpayer dollars.”

    Hagerty on bringing accountability to the CFPB: “I’ve had significant conversations with Russ Vought, who is our new [Office of Management and Budget] Director. The [Consumer Financial Protection Bureau] has been out of control for some time. The way it’s designed, I think is unconstitutional. It has no oversight; it’s been basically a reckless agency that’s been allowed to go way beyond any mandate that I think was originally intended. So, it’s time to rein it in, and I’m applauding anything that we can do to bring more stability, more control to the federal government, and take agencies like this back into some sort of sense of accountability and oversight […] It was established as an agency that does not have the jurisdiction of the Congress. Its funding source is separate from us. It has no accountability. This is not the type of agency I think that the founding fathers contemplated. We actually contemplated a balance of power. Yet, this rogue agency has been created, and frankly, it’s been used as a tool to come in and just hammer the American private sector and pursue initiatives that certain people like Rohit Chopra might have approved, or that Senator Elizabeth Warren might have approved, but this is not the way the American public should be funding and supporting programs of this nature.”

    Hagerty on the need to reform USAID funding: “I think there’s a tremendous appetite to do it, Margaret, because what we want to see is alignment of our programs with America’s National Security interest. USAID has been out of control. I’ve demanded accountability from [USAID], they’ve refused it. As an appropriator, I’ve asked them to be very clear about, for example, their role funding Hamas and Gaza. They would not comply. They will not tell us what they do. Now that we start to find out some of the programs that [USAID] has been funding—if you think about it, sex change operations in Guatemala, LGBTQ programs in Serbia […] And that is not true, Margaret. I couldn’t get the Secretary of State [Blinken]—I asked him three times to tell me that we were not funding Hamas through [USAID]. He couldn’t do it, and frankly, what we found is that we have been funding [terrorism] […] Certainly, the funds that have gone to UNRWA. You saw the UNRWA members who were also Hamas members […] [UNWRA is] supporting terrorist groups. And if you look at what UNRWA has done, it’s been so counter to our national interest. It’s unbelievable that we would fund it.”

    Hagerty on reciprocity in trade agreements: “I talked with President Trump on Friday about this broadly, Margaret. This is a concern that he has had for some time. As you know, I served in his previous Administration and worked my heart out to get two trade agreements executed with Japan. I was the U.S. Ambassador to Japan in his Administration. Here’s what we’re trying to deal with, and it goes all the way back to World War II, in the aftermath, we made very favorable terms of trade with countries whose economies have devastated in Europe and Japan. We should have time limited that. We should have put some type of GDP-per-capita limit on it, because what we have now are countries that have very unfavorable and unfair terms that are fully developed. So, it’s time to address this; it’s already begun to happen.”

    MIL OSI USA News –

  • MIL-OSI Russia: First victory in the regional Spartakiad “Cheerfulness and Health”

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    The annual traditional Spartakiad “Cheerfulness and Health” among teachers and employees of higher educational institutions of the Novosibirsk Region has begun. And for the first time, the NSU team won gold medals in table tennis competitions!

    In total, there are 9 types of the program in the Spartakiad: badminton, billiards, volleyball, darts, skiing, swimming, shooting, table tennis and chess. The 7 best results are counted towards the overall standings of the University, so the competition will be serious.

    We are pleased to congratulate our table tennis team on their brilliant victory and a wonderful start to the Spartakiad!

    The honor of NSU was defended by:

    Yuriy Efremenko, postgraduate student of the Faculty of Mechanics and Mathematics

    Alexander Byvaltsev, Associate Professor, Faculty of Natural Sciences

    Timur Nasybullov, Doctor of Sciences, Deputy. Dean of the MMF

    Larisa Zelenkina, Senior Lecturer, Institute of Physical Problems

    Dmitry Trotsenko – playing coach, veteran of the MMF

    We thank everyone for the great game and wish them success and longevity in sports!

    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 New Zealand: Education – Ara and Lanzhou City University strengthen relationship

    Source: Ara Institute of Canterbury

    For many decades, Ara Institute of Canterbury has enjoyed strong connections with Lanzhou City University in Gansu province, north-west China.
    The relationship grew out of the sister-city relationship between Christchurch and Gansu Province. Lanzhou City, on the banks of the Yellow River is the capital of the province.
    During a visit to Ara amid both Chinese New Year and Waitangi Day celebrations, the leadership of both education providers expressed hopes for a new era in their relationship.
    The LCU delegation included President Mr Gaonian Han, Director of Personnel Mr Dingjun Wang, Director of International Exchange Office Ms Xiaoxia Liu, Dean of School of Economics and Management Ms Jing Li and Associate Dean of School of Environment and Urban Development Mr Chao Wang.
    Welcoming the group last Friday, Ara’s International Director Deanna Anderson was quick to honour their shared history but also expressed strong hopes for reinvigorating their close association. She said Covid had “impacted our longstanding relationship for too long”.
    “It is time to reestablish our tradition of exchanges, both for language study and research, but also to share new ideas and bring them life,” she said, particularly noting the scope for growing cultural exchanges.
    “Our sister-city relationship is strongly based on cultural exchange – we’d like to show you what Ara has to offer in this space.”
    Expressing a keen interest in hosting a return delegation from Ara, LCU President Mr Gaonian Han said the relationship between the tertiary providers was one of the closest his university enjoyed. He reflected that their frequent exchanges and collaborations dated back to the 1980s with Ara students visiting LCU to learn Chinese, and LCU staff improving their English proficiency and teaching methods through Ara.
    Mr Han said LCU was also seeking to further cultural exchanges at the tertiary level.
    “I sincerely hope that the exchanges and cooperation between us will not only promote teaching and scientific research programmes and exchanges on both sides but also deepen and consolidate the friendship between China and New Zealand.”
    His associates highlighted free study and accommodation and scholarship options on offer at LCU during their presentations.
    Members of several Ara departments including Humanities, Creative Industries and Digital Technologies as well as Architectural Studies and Interior Design, presented to the delegation highlighting study options with scope for collaboration.
    After an exchange of gifts, Ara’s International Market Sector Manager Andy Ge escorted the visitors on a tour of campus before they were formally welcomed into Te Puna Wānaka whare on campus for a hāngī lunch prepared by Level 5 cookery students. 

    MIL OSI New Zealand News –

  • MIL-OSI Economics: Secretary-General of ASEAN meets with CEO of AirAsia Cambodia

    Source: ASEAN

    Dr. Kao Kim Hourn, Secretary-General of ASEAN, today met with Mr. Vissoth Nam, CEO of AirAsia Cambodia, at the ASEAN Headquarters/ASEAN Secretariat. During their discussion, they explored collaborative opportunities to boost regional aviation and enhance seamless connectivity across the ASEAN region. Dr. Kao commended AirAsia Cambodia’s efforts to make air travel more accessible and affordable for everyone. He also emphasised ASEAN’s commitment to developing an integrated, competitive, and environmentally sustainable aviation sector that supports regional tourism and socio-economic growth.

    The post Secretary-General of ASEAN meets with CEO of AirAsia Cambodia appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Submissions: NTT DATA Unveils Global Insights on GenAI Adoption in Banking: Divergent Strategies for Boosting Productivity vs. Cutting Costs

    Source: NTT DATA

    Research from NTT DATA finds that as GenAI adoption rises, new pressures on return of investment are at the forefront of the challenges facing the banking industry.

    TOKYO – BUSINESS WIRE – NTT DATA, a global digital business and IT services leader, has today launched a new global research report uncovering the use of generative AI (GenAI) in the banking sector worldwide. The report, titled “Intelligent banking in the Age of AI,” has found that despite the growing adoption of GenAI technology in the banking industry, banks and financial institutions are split when it comes to outcome-based strategies – only half of banks (50%) see it as a tool for improving productivity and efficiency. Similarly, half (49%) believe it can be used for reducing operational IT spend.

    Transforming Banking Through GenAI

    GenAI is more disruptive than any previous advance in banking technology. It is less a question of if, but when banks embrace this technology, due to its transformative ability to embed intelligence at every layer of the banking ecosystem, from core banking to front-end systems. GenAI is already making waves in the banking industry, with 6 in 10 organizations (58%) already fully embracing its transformative potential, an increase from 2023, when only 45% of organizations had fully embraced GenAI, according to NTT DATA’s research.

    “Generative AI represents a pivotal moment for the banking industry,” said Robb Rasmussen, Head of Global Marketing & Communications, NTT DATA. “While the potential benefits are enormous, the challenges of implementing GenAI are complex and varied, requiring careful navigation and a structured approach. Given the anticipated high spending on GenAI, achieving a return on investment is crucial. Many banks will be expecting GenAI to drive long-term savings by automating IT tasks, improving operational efficiency, and creating competitive advantages, but it’s important to note that achieving meaningful ROI requires a clear strategy, tailored implementation, and robust governance at the same time.”

    Financial constraints increasing pressure on ROI

    ROI has become a top priority for GenAI implementations, yet banking organizations are split in their opinions of which strategies are most important to them. Banks have long struggled with boosting productivity, and GenAI is poised to present a solution to this problem, but only half of banking leaders (50%) see it as a solution to current productivity woes. Cost optimization is another area where banks are split, with just under half (49%) looking to reduce IT budgets accordingly.

    This disparity is highlighted on a global scale too – for example, almost 6 in 10 US banks (59%) are keen to reduce IT budgets and almost half (47%) want to cut operations budgets, while only 4 in 10 banks in Europe (43%) have IT budgets front of mind and just over a third (36%) are concerned with operations costs. Meanwhile productivity is the most important factor for European banks (46%), yet the US and APAC are placing even more emphasis on productivity themselves in comparison.

    Key performance indicators (KPIs) that financial institutions are using or planning to use to evaluate the success of Generative AI initiatives:

    Differing strategies across differing regions

    Strategies for realizing these benefits of GenAI differ vastly among organizations too. While around half of organizations are focusing on collaboration between humans and AI (51%) or a hybrid approach with existing systems (47%), over a quarter (28%) of banks are hoping to fully automate tasks and remove the need for manual input entirely. Fully automating tasks is an area which divides opinions worldwide as well, with a quarter of banks in the UK (25%) and Europe (24%) looking to fully automate the process, while almost a third of banks (32%) in the Americas and 35% of Japanese banks are looking to do the same.

    Robb Rasmussen, Head of Global Marketing & Communications, NTT DATA added: “It is clear that the ability to balance innovation with fiscal responsibility will define success for banks. However, many banks are lacking in maturity when it comes to this technology and are unsure where to start. Partnering with systems integrators can be a good starting point, allowing them to access the latest knowledge while ensuring compliance with industry regulations. By working with specialized providers, banks can ensure that GenAI implementations can deliver the desired ROI, while maintaining robust data protection measures and meeting both internal security standards and regulatory requirements.”

    NTT DATA’s research dives into specific areas of the banking industry, including Payments and Wealth Management, as well as Fraud Prevention. To read the full report, please go to “Intelligent banking in the Age of AI”

    About the Research

    NTT DATA’s survey was carried out on 810 banking leaders, from all global banking markets, and provides a 360-degree perspective on the sector’s journey towards innovation and GenAI adoption. This survey was led by NTT DATA Group’s Global Industry Office, part of the Global Marketing & Communications Headquarters.

    MIL OSI – Submitted News –

  • MIL-OSI: Inside information: Nokia announces a leadership transition – Justin Hotard appointed as successor to Pekka Lundmark

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Inside information
    10 February 2025 at 08:00 EET

    Inside information: Nokia announces a leadership transition – Justin Hotard appointed as successor to Pekka Lundmark

    Espoo, Finland – Nokia today announced a leadership transition. Nokia’s President and Chief Executive Officer, Pekka Lundmark, has informed the Board that he will step down. The Board has appointed Justin Hotard as the next President and Chief Executive Officer of Nokia. He will start in his new role on 1 April 2025. 

    Hotard joins Nokia with more than 25 years’ experience with global technology companies, driving innovation, technology leadership and delivering revenue growth. He currently leads the Data Center & AI Group at Intel. Prior to this role, he held several leadership roles at large technology companies, including Hewlett Packard Enterprise and NCR Corporation. He will be based at Nokia’s headquarters in Espoo, Finland.

    “I am delighted to welcome Justin to Nokia. He has a strong track record of accelerating growth in technology companies along with vast expertise in AI and data center markets, which are critical areas for Nokia’s future growth. In his previous positions, and throughout the selection process, he has demonstrated the strategic insight, vision, leadership and value creation mindset required for a CEO of Nokia,” said Sari Baldauf, Chair of Nokia’s Board of Directors.

    “I am honored by the opportunity to lead Nokia, a global leader in connectivity with a unique heritage in technology. Networks are the backbone that power society and businesses, and enable generational technology shifts like the one we are currently experiencing in AI. I am excited to get started and look forward to continuing Nokia’s transformation journey to maximize its potential for growth and value creation,” said Justin Hotard.

    After leading Nokia since 2020, Nokia’s current President and CEO, Pekka Lundmark, has decided to step down from executive roles and move on to the next phase of his career.

    “I want to thank Pekka for his significant contributions to Nokia, he will leave with our highest respect. The planning for this leadership transition was initiated when Pekka indicated to the Board that he would like to consider moving on from executive roles when the repositioning of the business was in a more advanced stage, and when the right successor had been identified. Now, both of those conditions have been met, and he has decided to step down,” said Sari Baldauf.

    She continued: “Pekka joined at a difficult time in Nokia’s history. Under his tenure, Nokia has re-established its technology leadership in 5G radio networks and built a strong position in cloud-native core networks. Network Infrastructure has delivered growth and significant profit improvement, and Nokia has secured the longevity of its patent licensing business. At the same time, Nokia has built strong foundations in new growth areas, refreshed the company’s brand and culture, transformed its operating model and rebalanced its portfolio.”

    “Leading Nokia has been a privilege. When I returned to Nokia in 2020, I called it a homecoming, and it really has felt like one. I am proud of the work our brilliant team has done in re-establishing our technology leadership and competitiveness, and positioning the company for growth in data centers, private wireless and industrial edge, and defense. This is the right time for me to move on. I have led listed companies for more than two decades and although I do not plan to stop working, I want to move on from executive roles to work in a different capacity, such as a board professional. Justin is a great choice for Nokia and I look forward to working with him on a smooth transition,” said Nokia’s President and CEO Pekka Lundmark. 

    Lundmark will step down on 31 March 2025. He will continue as an advisor to the new CEO until the end of the year. 

    An event for media and financial analysts will be held today at 10:00 EET. Link to join the webcast: https://edge.media-server.com/mmc/p/hjd9zmyx.

    Journalists and financial analysts, who wish to ask a question during the event, must dial-in to an audio-only conference call line. The attendees must pre-register here: https://dpregister.com/sreg/10196883/fe7f25be61.

    If you wish to ask a question on the call, you must mute the webcast and only use the participant dial-in during the Q&A session as there is a delay of approximately 15-30 seconds.

    Journalists and financial analysts can join via webcast or in person (Nokia’s Executive Experience Center at Karakaari 18, Espoo). Members of the media and analysts who want to participate in person, are kindly requested to show their press credential or valid ID on arrival.

    Justin Hotard, CV

    Born: 1974

    Nationality: US national 

    Experience:

    • Intel, Santa Clara, CA, 2024–present: Executive Vice President and General Manager, Data Center & AI Group
    • Hewlett Packard Enterprise, Houston, TX / Tokyo, Japan, 2015–2024: various leadership positions including:
      • Executive Vice President and General Manager, High Performance Computing, AI & Labs
      • President and Managing Director, Japan and China
    • NCR Corporation, Duluth, GA, 2007–2014: various leadership positions including: President and General Manager, Global Small Business Cloud Platform
    • Symbol Technologies (acquired by Motorola, Inc), Holtsville, NY, 2003–2007: Director, Product Management and Senior Manager, Corporate Development
    • Motorola, Inc, Arlington, IL, 1996–2000: Senior Systems Engineer

    Education:

    • Master of Business Administration, MIT Sloan School of Management, Cambridge, MA, 2002
    • Bachelor of Science in Electrical Engineering, University of Illinois Urbana-Champaign, Urbana, IL, 1997

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

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

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

    Inquiries:

    Nokia Communications
    Phone: +358 10 448 4900
    Email: press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia
    Investor Relations
    Phone: +358 931 580 507
    Email: investor.relations@nokia.com

    FORWARD-LOOKING STATEMENTS

    Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia’s current expectations and views of future developments and include statements regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to our ongoing transactions, investments and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including “anticipate”, “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “see”, “plan” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties specified in our 2023 annual report on Form 20-F published on 29 February 2024 under Operating and financial review and prospects – Risk factors. 

    The MIL Network –

  • MIL-OSI: WISeKey’s WISeID Empowers Users with Digital Identity Control in a Geopolitically Uncertain World

    Source: GlobeNewswire (MIL-OSI)

    WISeKey’s WISeID Empowers Users with Digital Identity Control in a Geopolitically Uncertain World

    Geneva, Switzerland, February 10, 2025 –WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announces latest suite of enhancements of WISeID, the Company’s WebTrust-compliant identity management system built to protect users’ digital identities and personal data.

    In light of current geopolitical tensions and the growing centralization of technology resources in only a few countries, it is more essential than ever for consumers to maintain control over their own digital identity. People’s digital identity represents their online persona, and ensuring it remains under each individual’s control allows them to attach various attributes to it while navigating the internet with full autonomy and consent.

    Unfortunately, many platforms compel users to create digital identities within their ecosystems, not as a service to the consumer but as a means of controlling identity data for commercial exploitation. These platforms act as identity providers, leveraging user data for monetization by selling personal information to advertisers and other third parties.

    For over 25 years, WISeKey has been a leader in digital identity solutions, prioritizing user autonomy without locking individuals into a proprietary ecosystem. WISeKey’s WISeID WebTrust-compliant identity management system, is accessible to all and designed to seamlessly integrate with existing blockchain technologies. WISeID.com enhances user protection against identity theft and strengthens privacy in today’s hyper-connected world.

    The Next Generation of WISeID: Elevating Digital Identity Security

    The latest iteration of WISeID builds upon WISeKey’s legacy of cutting-edge cybersecurity innovation, introducing a suite of enhancements that further protect users’ digital identities and personal data.

    1. Free Identity Validation

    WISeID now enables all users to verify their real identity using their computer or smartphone camera. By capturing an official identity document—such as a National ID, Driver’s License, or Passport (from most countries)—and utilizing facial recognition technology, users can confirm their identity securely and conveniently.

    2. New Types of Digital Certificates

    WISeID introduces a range of digital certificates with varying validation levels to suit different user needs:

    • Free Certificates – Available to all users, containing only an email address and valid for three months.
    • Basic Certificates – An optional subscription-based certificate with a two-year validity.
    • Advanced Certificates – Includes additional verified information such as the user’s name and country, enhancing credibility when sending emails or signing documents. This requires completing our Know Your Customer (KYC) verification process.
    • Advanced PRO Certificates – Designed for professional use, these certificates also include company details and require an organization validation process conducted by WISeKey.

    3. New Document Signing Service

    WISeID now offers a free digital document signing solution. Users can sign PDF documents directly from their computer or mobile device without needing to manually create or install certificates. Our platform automatically and securely generates single-use certificates for each signature request. The only requirement is a valid WISeID account with identity verification.

    4. New Corporate Identity Management Services

    Organizations can now leverage WISeID to provide secure identity services to their employees and customers through a corporate account. Corporate administrators gain full control over user identity creation and certificate management, eliminating the need for individual verification processes. Additionally, companies can acquire WISeSign packages, enabling employees to securely request and manage digital signatures.

    By providing decentralized, user-controlled digital identity solutions, WISeID stands in stark contrast to identity-restricting platforms. Our mission is to empower individuals and businesses with secure, verifiable, and privacy-enhancing digital identity tools, ensuring they remain in full control of their online presence.

    For more information, visit WISeID.com.

    About WISeKey

    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact: Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com     		 WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611
    lcati@equityny.com

    The MIL Network –

  • MIL-OSI: EdgeSynergies Unveils Edge Data Centre Breakthrough at DSbD Showcase

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 10, 2025 (GLOBE NEWSWIRE) — EdgeSynergies are showcasing their pioneering UKRI-funded project under the Digital Security by Design (DSbD) programme, at the upcoming UK Digital Security by Design Showcase. This milestone event showcases EdgeSynergies’ secure, sustainable edge data centres, delivering low-latency compute while repurposing waste heat for decarbonisation—key to the UK’s digital future, economic resilience, and Net Zero goals.

    At the event, EdgeSynergies will unveil MoatE (Morello at the Edge), a revolutionary digitally secure, energy-efficient edge computing solution. MoatE enables data centres to repurpose waste heat energy into usable energy, supporting urban heat networks and advancing the UK’s drive towards green, low-latency computing infrastructure. This breakthrough innovation directly contributes to the United Nations Sustainable Development Goals (UNSDG), reinforcing the UK’s leadership in secure, climate-conscious digital infrastructure.

    With the rapid rise of AI, IoT, AV, VR, and edge computing, the demand for ultra-secure, high-performance, and energy-efficient edge data centres for low-latency computing has never been greater. EdgeSynergies’ MoatE harnesses the power of the UKRI-backed Morello architecture, embedding next-generation digital security by design principles to protect against cyber threats while ensuring high-efficiency computing.

    Joydeep Mondal, Founder & CEO of EdgeSynergies, said: “The UK stands at a pivotal moment in defining the future of secure, sustainable computing. EdgeSynergies’ innovation represents a critical leap forward—combining next-gen cybersecurity with circular economy principles to transform edge data centres into green energy hubs. We are excited to present MoatE at the DSbD Showcase and invite governments, investors, and industry leaders to join us in scaling this ground-breaking solution.”

    Margaret Blight, Co-Founder & CCO of EdgeSynergies, added: “The meteoric rise of AI inference is fueling a surge in demand for Edge compute. Without green solutions that revolution will have an unprecedented impact to energy, water and carbon emissions. MoatE enables us to decarbonise compute by reusing waste heat for good in the community. Our work under the UKRI Digital Security by Design programme underscores the importance of embedding security at the silicon level while addressing the environmental impact of compute infrastructure. We call on policymakers, industry leaders, and tech innovators to support this mission and drive adoption of climate-positive digital infrastructure.”

    EdgeSynergies invites government bodies, investors, compute customers, and industry partners to engage with us at the UK Digital Security by Design Showcase on 11th February 2025. This is a unique opportunity to support the UK’s ambition for secure, sustainable, and high-capacity edge computing—a vital step towards achieving Net Zero and digital sovereignty.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/13711d6e-dbaf-4d9d-b3de-ed4f4dc1cdd8

    The MIL Network –

  • MIL-OSI: TGS Awarded Two 4D Streamer Contracts Offshore Norway

    Source: GlobeNewswire (MIL-OSI)

    OSLO, Norway (10 February 2025) – TGS, a leading provider of energy data and intelligence, is pleased to announce the award of two 4D streamer contract acquisition projects, one in the North Sea and one in the Norwegian Sea. The 4D projects are scheduled to be acquired back-to-back and commence in June. The total duration of the two surveys is approximately 80 days.

    Kristian Johansen, CEO of TGS, commented, “We are pleased to secure two new 4D streamer contracts. Now we have a total of six 4D streamer contracts scheduled for the 2025 summer season on the Norwegian continental shelf. The clients value our GeoStreamer technology combined with the Ramform acquisition platform, ensuring efficient delivery of high-quality data.”

    For more information, visit TGS.com or contact:

    Bård Stenberg
    VP IR & Communication
    Mobile: +47 992 45 235
    investor@tgs.com

    About TGS
    TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).

    Forward Looking Statement
    All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

    The MIL Network –

  • MIL-Evening Report: Eugene Doyle: Trump and foolish old men who redraw maps

    COMMENTARY: By Eugene Doyle

    It generally ends badly.  An old tyrant embarks on an ill-considered project that involves redrawing maps.

    They are heedless to wise counsel and indifferent to indigenous interests or experience.  Before they fail, are killed, deposed or otherwise disposed of, these vicious old men can cause immense harm.

    To see Trump through this lens, let’s look at a group of men who tested their cartographic skills and failed:  King Lear and, of course, Hitler and Napoleon Bonaparte, and latterly, George W Bush and Saddam Hussein.

    I even throw in a Pope.  But let’s start first with Benjamin Netanyahu and Donald Trump himself.

    Benjamin Netanyahu and a map of a ‘New Middle East’ — without Palestine
    In September 2023, a month before the Hamas attack on Israel, Benjamin Netanyahu spoke to an almost-empty UN General Assembly.  Few wanted to share the same air as the man.

    In his speech, he presented a map of a “New Middle East” — one that contained a Greater Israel but no Palestine.

    In a piece in The Jordan Times titled: “Cartography of genocide”, Ramzy Baroud explained why Netanyahu erased Palestine from the map figuratively.  Hamas leaders also understood the message all too well.

    “Generally, there was a consensus in the political bureau: We have to move, we have to take action. If we don’t do it, Palestine will be forgotten — totally deleted from the international map,” Dr Bassem Naim, a leading Hamas official said in the outstanding Al Jazeera documentary October 7.

    Hearing Trump and Netanyahu last week, the Hamas assessment was clear-eyed and prescient.

    Donald Trump
     In defiance of UN resolutions and international law, he recognised Jerusalem as Israel’s capital, recognised the Syrian Golan Heights as part of Israel, and now wants to turn Gaza into a US real estate development, reconquer Panama, turn Canada into the 51st State of the USA, rename the Gulf of Mexico and seize Greenland, if necessary by force.

    And it’s only February.  The US spent blood, treasure and decades building the Rules-Based International Order.  Biden and Trump have left it in tatters.

    Trump is a fitting avatar for the American state: morally corrupt, narcissistic, burning down all the temples to international law, and generally causing chaos as he flames his way into ignominy.

    The past week — where “Bonkers is the New Normal” — reminded me of a famous Onion headline: “FBI Uncovers Al-Qaeda Plot To Just Sit Back And Enjoy Collapse Of United States”.

    The Iranians made a brilliant counter-offer to the US plan to ethnically cleanse Gaza and create a US statelet next to Israel — send the Israelis to Greenland! Unlike the genocidal US and Israeli leadership, the Iranians were kidding.

    Point taken, though.

    King Lear: ‘Meantime we will express our darker purpose. Give me the map there.’

    Lear makes the list because of Shakespeare’s understanding of tyrants and those who oppose them.

    Trump, like Lear, surrounds himself with a college of schemers, deviants and psychopaths. Image: www.solidarity.co.nz

    Kent: My life I never held but as a pawn to wage against thy enemies.

    Lear: Out of my sight!

    Kent and all those who sought to steer the King towards a more prudent course were treated as enemies and traitors. I think of Ambassador Chas Freeman, John Mearsheimer, Colonel Larry Wilkerson, George Beebe and all the other wiser heads who have been pushed to the periphery in much the same way.

    Trump, like Lear, surrounds himself with a college of schemers, deviants and psychopaths.

    Napoleon Bonaparte
     I was fortunate to study “France on the Eve of Revolution” with the great French historian Antoine Casanova.  His fellow Corsican caused a fair bit of mayhem with his intention to redraw the map of Europe.

    British statesman William Pitt the Younger reeled in horror as Napoleon got to work, “Roll up that map; it will not be wanted these 10 years,” he presciently said.

    Bonaparte was an important historical figure who left a mixed and contested legacy.

    Before effective resistance could be organised, he abolished the Holy Roman Empire (good job), created the Confederation of the Rhine, invaded Russia and, albeit sometimes for the better, torched many of the traditional power structures.

    Millions died in his wars.

    We appear to be back to all that: a leader who tears up all rule books.  Trump endorses the US-Israeli right of conquest, sanctions the International Criminal Court (ICC) for trying to hold Israel and the US to the same standard as others, and hands out the highest offices to his family and confidantes.

    Hitler
     “Lebensraum” (Living space) was the Nazi concept that propelled the German war machine to seize new territories, redraw maps.  As they marched, the soldiers often sang “Deutschland über alles” (Germany above all), their ultra-nationalist anthem that expressed a desire to create a Greater Germany — to Make Germany Great Again.

    All sounds a bit similar to this discussion of Trump and Netanyahu, doesn’t it?  Again: whose side should we be on?

    Saddam Hussein and George W Bush
     When it comes to doomed bids to remake the Middle East by launching illegal wars, these are two buttocks of the same bum.  Now we have the Trump-Netanyahu pair.

    Will countries like Australia, New Zealand and the UK really sign up for the current US-Israeli land grab?  Will they all continue to yawn and look away as massive crimes against humanity are committed?   I fear so, and in so doing, they rob their side of all legitimacy.

    Pope Alexander VI
     There is a smack of the Borgias about the Trumps. They share values — libertinism and nepotism, to name two — and both, through cunning rather than aptitude, managed to achieve great power.

    Pope Alexander VI, born Rodrigo Borgia, father to Lucretia and Cesare, was Pope in 1492 when Columbus sailed the ocean blue.

    1494. The Treaty of Tordesillas hands the New World over to the Spanish and Portuguese. Image: www.solidarity.co.nz

    He was responsible for the greatest reworking of the map of the world: the Treaty of Tordesillas which divided the “New World” between the Spanish and Portuguese empires. Millions died; trillions were stolen.

    We still live with the depravities the Europeans and their heritors unleashed upon the world.

    I’m sure the Greenlanders, the Canadians, the Panamanians and whoever else the United States sets their sights on will resist the unwelcome attempt to colour the map of their country in stars & stripes.

    History is littered with blind map re-makers, foolish old men who draw new maps on old lands.

    Like Sykes, Picot, Balfour and others, Trump thinks with a flourish of his pen he can whisk away identity and deep roots. Love of country and long-suffering mean Palestinians will never accept a handful of coins and parcels of land spread across West Asia or Africa as compensation for a stolen homeland.

    They have earned the right to Palestine not least because of the blood-spattered identity that they have carved out of every inch of land through their immense courage and steadfastness. We should stand with them.

    Eugene Doyle is a community organiser and activist in Wellington, New Zealand. He received an Absolutely Positively Wellingtonian award in 2023 for community service. His first demonstration was at the age of 12 against the Vietnam War. This article was first published at his public policy website Solidarity and is republished here with permission.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: What do the changes to IUD access mean for Australian women?

    Source: The Conversation (Au and NZ) – By Danielle Mazza, Director, SPHERE NHMRC Centre of Research Excellence in Women’s Sexual and Reproductive Health in Primary Care and Professor and Head of the Department of General Practice, Monash University

    PeopleImages.com – Yuri A/Shutterstock

    Ahead of the government’s response this week to a Senate inquiry into access to reproductive health care in Australia, the government has announced new measures to make it easier to get an intrauterine device, or IUD.

    Payments to doctors and nurse practitioners to insert and remove these devices will increase. The government will also set up eight centres to train health-care professionals in IUD insertion, and ensure they are skilled and confident.

    The Coalition has vowed to match this commitment if it wins the federal election.

    So what are IUDs? And how might these changes impact Australian women?

    ‘Set and forget’ contraception

    IUDs are small devices that are implanted in the uterus to prevent pregnancy. There are two types: “hormonal IUDs”, which contain the hormone levonorgestrel, and “copper IUDs”.

    Another long-acting reversible contraceptive, the contraceptive implant, is about 4cm long, made of plastic and inserted just under the skin in the arm.

    Hormonal IUDs (known by brand names Mirena and Kyleena in Australia) and the contraceptive implant are subsidised under the PBS, costing A$31.60 ($7.70 concession). However copper IUDs aren’t, and cost around $100.

    However, women may face significant out-of-pocket costs to have IUDs and implants inserted.

    IUDs are types of long-acting reversible contraception. They are often called “set and forget” because once inserted, nothing more needs to be done. Long-acting reversible contraceptives are the most effective way to prevent pregnancy (over 99%).

    This compares with the commonly used contraceptive pills containing estrogen and progestogen, which need to be taken every day. These have a failure rate of 8-9% with typical use.

    The hormonal IUDs’ contraceptive effect lasts for eight years, while a copper IUD can last up to ten years, depending on the type. The contraceptive implant protects against pregnancy for three years.

    IUDs are a ‘set and forget’ form of contraception.
    Yashkin Ilya/Shutterstock

    The levonorgestrel in hormonal IUDs acts locally inside the uterus to thin the lining of the womb, so much so that after about six months of use, many women experience very little, if any, bleeding.

    This reduction in menstruation can prevent or reduce conditions such as heavy menstrual bleeding, iron deficiency and period pain.

    Like all contraceptives, there are potential side effects. IUD insertion is painful, there is a small risk of expulsion of IUDs and they may not be positioned correctly at the time of insertion.

    Copper IUDs may cause heavier bleeding than usual.

    And the contraceptive implant is associated with unpredictable (although mostly tolerable) bleeding patterns.

    Australian women are less likely to use them

    Just 6% of women use an IUD and another 5% use the contraceptive implant.

    This compares with Sweden, where 30.9% use a long-acting reversible contraceptive, and in England, it’s over 30%.

    Part of the reason is many women don’t know much about these contraceptive options, especially about IUDs.

    But our research found that women were more likely to choose an IUD when their doctor incorporated information about how much more effective long-acting reversible contraceptives were during contraceptive consultations, and could refer women to get an insertion done quickly if they didn’t provide insertions themselves.

    Some women rely on the pill because they don’t know they have other options.
    Layue/Shutterstock

    Women often struggle to find a GP who can insert an IUD and face long waiting times to get one inserted.

    Despite a small increase to the Medicare rebate in 2022, the current rebate doesn’t reflect the costs or time needed by GPs to conduct the insertion. This has put a lot of GPs off from providing this service.

    It can also be difficult for GPs to take time off from their clinical work to do the training, with courses costing around $1,500 and GPs not earning any income while attending.

    What did the Senate inquiry recommend?

    To overcome these issues, a Senate inquiry into barriers to reproductive health care recommended:

    • appropriate remuneration and reimbursement for GPs providing IUD and implant insertion and removal services, including through increased Medicare rebates

    • improved insertion and removal training to support the increased use of IUDs and implants in Australia.

    How does this announcement stack up?

    The new women’s health package directly addresses these issues by:

    • increasing the clinician rebate for inserting and removing IUDs and implants

    • providing Medicare rebates for nurse practitioner insertions

    • providing GPs with an incentive to bulk bill insertions so women will not face any out-of-pocket costs

    • funding eight centres across Australia to train clinicians to ensure they’re trained, skilled and confident in IUD insertion.

    These measures complement announcements made last year to provide training scholarships for GPs and nurses to train in IUD insertion and to fund an online “community of practice” to support practitioners to provide these services.

    With the increased rebates rolling out from November 1, and the training centres in the next year or two, we should see many more GPs skilled up and providing IUDs in the next few years.

    This should make it more affordable and much easier for women to find a clinician to insert it.

    Another reproductive health issue remains unaddressed

    The government is expected to table its response in parliament this week to the reproductive health care access Senate inquiry.

    While there have been many improvements in access to medical abortion, particularly the ability for women to receive a medical abortion via telehealth through Medicare, key challenges remain in ensuring all Australian women can access surgical abortion.

    Policymakers will need to focus attention on training a new generation of clinicians to undertake surgical abortions, and developing transparent local pathways for women to access care.

    Danielle Mazza has received funding for research and conference attendance and served on advisory boards for Bayer, Organon, MSD and Gedeon Rechter. SPHERE and the ACCORd trial mentioned in the article were funded by the NHMRC and the Extend Prefer study by the Australian Department of Health. The roundtable on barriers to LARC was funded by Bayer.

    – ref. What do the changes to IUD access mean for Australian women? – https://theconversation.com/what-do-the-changes-to-iud-access-mean-for-australian-women-249473

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Video: Deputy Minister Kenny Morolong back-to-school programme

    Source: Republic of South Africa (video statements-2)

    government’s back-to-school programme in Cape Town, Western Cape.

    https://www.youtube.com/watch?v=MO8XDskbN1A

    MIL OSI Video –

  • MIL-OSI Video: DM Morolong delivers keynote address at the MDDA Community Media Consultative Forum #SONA2025

    Source: Republic of South Africa (video statements-2)

    Deputy Minister Morolong delivers a keynote at the Community Media Consultative Forum

    Earlier today, the Deputy Minister in the Presidency, Kenny Morolong, delivered a keynote address at the Media Development & Diversity Agency (MDDA) Community Media Consultative Forum at the Khayelitsha Thusong Centre, highlighting the contributions of the sector in the past 30 years of democracy. An integral consideration for the sector includes looking into financial sustainability for community media as well as digitalization. The Forum aims to bring government, community media, industry partners, and regulatory bodies together to reflect on community media’s contributions in the past 30 years of democracy in South Africa while also tackling challenges facing the sector today, including sustainability and digitalization, to fortify the sector for the future.

    https://www.youtube.com/watch?v=GwVvlcr8KLY

    MIL OSI Video –

  • MIL-OSI China: China’s smart robot industry sees robust growth in 2024

    Source: China State Council Information Office

    By the end of 2024, the number of enterprises in the smart robot industry in China had reached 451,700, with a total registered capital of 6.44 trillion yuan (about 880 billion U.S. dollars), according to the State Administration for Market Regulation.

    The number of such enterprises grew by 19.39 percent compared to the end of 2023, demonstrating a steady upward trend in the industry’s development in China.

    Nearly 80 percent of these enterprises were concentrated in three sectors, namely scientific research and technical services; information transmission, software and information technology services; and wholesale and retail, the administration said.

    The eastern region of the country, with its distinct geographical advantages, robust research and development strength, and well-established industrial ecosystem, has become a hub hosting about two-thirds of smart robot industry enterprises in China.

    The number of such enterprises in China’s central and northwestern regions account for 15.33 percent and 14.97 percent of the total, respectively.

    MIL OSI China News –

  • MIL-OSI Australia: Youth charged in relation to evade and crash at Bridgewater

    Source: Tasmania Police

    Youth charged in relation to evade and crash at Bridgewater

    Monday, 10 February 2025 – 4:23 pm.

    A youth has been charged in relation to an evade incident and crash on the Bridgewater Bridge yesterday. 
    The 15-year-old has been charged with aggravated evade, motor vehicle stealing, unlicensed driving, and traffic offences. 
    They will appear before the Youth Justice Court tonight.

    MIL OSI News –

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on February 10, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 2,25,000
    Total amount of bids received (in ₹ crore) 2,01,310
    Amount allotted (in ₹ crore) 2,01,310
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.27
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad           
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2118

    MIL OSI Economics –

  • MIL-OSI Australia: (WIP) Stamp duty complexities in Sale and Purchase Agreements: insights from Van Dairy

    Source: Allens Insights

    Care required not to trigger duty or double duty 10 min read

    The recent Tasmanian case of Van Dairy1 suggests that an agreement to procure a sale of property might be liable to duty as an agreement for sale, even if the owner of the property is not a party to it. This is significant because, in the context of this case, it meant the Sale and Purchase Agreement (SPA) triggered adverse stamp duty implications. This included that the purchaser became a land-rich entity before completion, so that a double duty liability was triggered by the transfer of its shares before completion of the land purchase.

    To ‘change your mind’ after the contract is signed involves a major risk of incurring double duty under the landholder duty provisions of each Australian jurisdiction.

    The principle in the case is potentially relevant when a corporate or other entity, which wholly controls one or more subsidiaries, undertakes to procure or arrange for those subsidiaries to sell land, shares or other assets held by them to a buyer.2 It could potentially apply to impose duty on other agreements where the owners of the relevant sale property are not parties, such as scheme implementation agreements, or global business sale agreements in which parent companies of global groups undertake to procure their subsidiaries in various countries to buy and sell relevant businesses or companies.

    We understand that the taxpayers have appealed the decision, and it remains to be seen whether the decision is overturned, or whether it will be followed in other Australian jurisdictions.

    The case is also a salutary lesson about the importance of establishing ownership of a special purpose entity before it enters into a contract to acquire land assets, to ensure double duty does not arise under the landholder duty provisions in any Australian jurisdiction.

    Key takeaways

    • A sale and purchase agreement under which a controlling entity agrees to procure the sale of property by an entity which it controls, can potentially be characterised as a binding agreement for the sale of that property, even though the entity that owns the property is not a party to the agreement. Thus, such an agreement can trigger adverse duty consequences.
    • Taxpayers establishing entities to acquire land assets or other property should strive to establish them with the correct or intended ownership prior to signing any contract to purchase the assets. To ‘change your mind’ after the contract is signed involves a major risk of incurring double duty under the landholder duty provisions of each Australian jurisdiction.
    • This is subject to the potential for a taxpayer that is a member of a corporate group being able to rely on corporate reconstruction exemptions and concessions, to obtain an exemption or reduction in duty for a change in ownership within a corporate group of the special purpose entity after it acquires the land assets.

    Who in your organisation needs to know about this?

    Members of the tax and legal teams, and others involved in negotiating SPAs and global sale agreements, and in establishing special purpose entities to acquire land or other assets.

    A summary of the Van Dairy case

    Facts

    In October 2015, certain Tasmanian properties (the Woolnorth properties) were marketed for sale. They were then owned by two companies named Van Diemen’s Land Company (VDL) and Tasman Ferndale Pty Ltd (TFPL), both of which were wholly owned by Tasman Land Company (TLC).

    Mr Lu Xianfeng (Mr Lu) wanted to purchase the Woolnorth properties and related assets that were to be sold by interests controlled by TLC. Mr Lu at all relevant times controlled the corporate appellants in the matter. On 30 October 2015, Moon Lake Investments Pty Ltd (Moon Lake) was incorporated, with Mr Lu as the sole shareholder, holding all five shares in the company.

    On 20 November 2015, Mr Lu, Moon Lake and TLC executed a written agreement referred to as the SPA. Under this agreement, as per clause 3, TLC agreed to ‘procure the sale and transfer to [Moon Lake] of the Assets … with affect from Closing’. The Assets referenced were owned by ‘the group’, which consisted of TFPL and VDL, which—as noted above—were wholly owned subsidiaries of TLC.

    On 12 January 2016, according to the Moon Lake share register held by the Australian Securities and Investments Commission, Mr Lu’s five shares in Moon Lake were transferred to Ningbo Kaixin Investment Co Ltd (Ningbo).

    On 24 March 2016, Ningbo’s shares in Moon Lake were then transferred to Van Dairy (Hong Kong) Group Ltd (VDHK).

    On 31 March 2016, completion of the sale of the land took place. Moon Lake partly funded payment of the purchase price by issuing a large number of shares to VDHK. Moon Lake received the executed land transfers from VDL and TFPL and, on around 4 April 2016, these were lodged to be assessed for stamp duty by the State Revenue Office (SRO), together with payment of estimated duty of over $8 million.

    Subsequently the SRO told Moon Lake’s solicitors it would give further consideration as to whether Ningbo and/or VDHK had any liability to pay land-rich duty, separately from Moon Lake’s liability to pay duty on the acquisition of the Woolnorth properties.

    On 28 January 2021, the corporate appellants received a notice from the SRO that it intended to investigate whether Ningbo and/or VDHK had acquired any relevant interest in a land-rich corporation.

    On 20 April 2021, Moon Lake received further correspondence from the SRO, which included the following statement:

    The acquisition by shares by [Ningbo] on 15 January 2016 and then subsequently by [VDHK] on 24 March each resulted in a separate dutiable transaction under s66 of the Act as at the time of each of those majority acquisitions, Moon Lake was deemed to be a land-rich company.

    On 5 July 2021, the SRO informed Ningbo and VDHK that each were liable to pay duty interest and penalty tax in the sum of approximately $10.5 million.

    On 2 September 2021, Ningbo and VDHK each lodged notices of objection with the Commissioner regarding the 5 July 2021 assessments. The Commissioner disallowed their objections (apart from a reduction in the quantum of each assessment). The assessments, as revised, were the subject of challenge in the case.

    Issues

    The most significant issue from a duty viewpoint was whether the SPA was an uncompleted agreement for the sale of land, despite the fact that the owners of the land were not parties to the agreement. If so, it meant the SPA had the effect of causing Moon Lake to be a land-rich corporation both at the time of the transfer of its shares to Ningbo and then to VDHK, triggering multiple duty.

    The decision on whether the SPA was an uncompleted agreement for the sale of land

    Under section 60(1) of the Duties Act 2001, a private corporation was land rich if:

    • it had land holdings in Tasmania where the unencumbered value is $500,000 or more; and
    • its land holdings in all places, whether within or outside Australia, comprised 60% or more of the unencumbered value of all its property.

    A land holding included any interest in land, with some exceptions that were not relevant to the facts of the case.3

    Under section 61(4), the vendor and the purchaser under an uncompleted agreement for the sale of land were each taken to be separately entitled to the whole of the land. While the land-rich duty provisions in Tasmania were subsequently replaced by landholder duty provisions (removing the 60% requirement), there is an equivalent provision in section 79(1) of the current Act. In addition, all Australian jurisdictions have an equivalent provision in their landholder duty legislation.

    Before the Supreme Court of Tasmania, Ningbo and VDHK argued that s61(4) did not deem Moon Lake to be entitled to the whole of the land the subject of the SPA as it was not a purchaser under an uncompleted agreement for the sale of land. The basis of this argument was that the SPA was a contract between TLC and Moon Lake. The land was not owned by TLC, but by companies controlled by TLC. Ningbo asserted that this is different from TLC itself selling the land to Moon Lake.

    Acting Justice Marshall noted that the proper interpretation of s61 was central to the resolution of this issue. Firstly, his Honour noted that the expression ‘agreement for the sale of land’ was not defined in the Act. In turning to the ordinary natural meaning of the words, his Honour held:

    “The ordinary natural meaning of the words is to provide a description of an agreement which results in the sale of land. The words in the section are not “an agreement for the sale of land by a vendor and its purchase by a buyer”.

    This approach highlights that the words ‘for the sale of land’ are the key element of the description of the agreement and should not be construed narrowly or pedantically. The words indicate binding agreements by which the sale of land is effected. On the facts of the case there was no doubt TLC was able to secure the sale of the land to Moon Lake as required under the SPA. Therefore, Moon Lake was a purchaser under an uncompleted agreement for the sale of land, and was treated as holding an interest in the land for the purposes of s61(1) of the Act.

    The court also referred to the judgment of Justice Fullagar in Hall v Busst, where his Honour said there were ‘three essential elements’ required for a concluded agreement including the parties, the subject matter and the price.4 All three were satisfied in Van Dairy, including the parties.

    Implications

    The decision suggests that an agreement to procure a sale of property might be liable to duty as an agreement for sale, even if the owner of the property is not a party to it.

    We understand an appeal against the decision of the Tasmanian Supreme Court has been lodged in the Tasmanian Court of Appeal by the taxpayers. Pending the outcome of that appeal, the decision remains persuasive in other jurisdictions.

    It remains to be seen whether the decision is ultimately overturned, or is followed in other jurisdictions. It may be that it can be confined to its facts—although the owners of the relevant land were not parties to the SPA, their controlling parent company, TLC, undertook a binding obligation to procure that they sold the land, and there was no other agreement for sale entered into or contemplated. The SPA operated as the agreement that regulated the sale of the land. It might be different if the agreement had been drafted as an obligation of TLC to procure that its subsidiaries entered into a separate agreement for the sale of the land with the purchaser. This is often the case with global sale agreements, where the parent company of a multinational group undertakes to procure that its subsidiaries enter into separate country-specific agreements relating to the sale of downstream assets.

    The result in Van Dairy might also have been different if the question was whether the deeming provision in s61(4) applied to the owners of the land as vendors, since they were not parties. Alternatively, if only TLC and Mr Lu (but not Moon Lake) had entered into the agreement, perhaps s61(4) would not have applied because Moon Lake, as purchaser, would not have been a party to the agreement.

    In the case of a scheme implementation agreement in a takeover context, the target company undertakes to take steps to seek shareholder (and court) approval of a scheme for the sale of its shares by the shareholders to the acquirer. This might potentially trigger a landholder duty liability under the provisions of the duties legislation in Queensland or Western Australia. However, the target company is generally not in a position to definitely procure the sale—there is doubt about the scheme proceeding, because it generally depends on approval by the shareholders (and the court). So, on that basis, the position might be distinguishable from the decision in Van Dairy.

    As indicated in Van Dairy, double duty can be triggered when ownership of a purchaser entity is not established correctly at the outset. There were two transfers of the shares in Moon Lake after the SPA had been signed, triggering two lots of duty on the transfers of shares in Moon Lake, in addition to the duty on the purchase of the land. Therefore, it is important to seek to establish the correct entities as shareholders (or unitholders in the case of a unit trust) prior to the purchaser entity entering into a contract to acquire the land. Any transfer of ownership of the purchaser entity after it becomes a landholder could potentially attract landholder duty. This is subject to whether relief might be available under exemptions or concessions for transfers within a corporate group, as explained below.

    As noted above, the landholder duty legislation of other Australian jurisdictions has similar provisions deeming a company to be a holder of land where it has entered into an uncompleted agreement to purchase the land. For this reason, the Van Dairy decision will be persuasive authority on the interpretation of those provisions.

    For example, under section 160(1) of the Duties Act 1997 (NSW), the transferor and the transferee under an uncompleted agreement for the sale or transfer of land are each taken to be separately entitled to the whole of the land.5

    The use of the terms transferor and transferee correspond to the use of the terms vendor and the purchaser in the Tasmanian Act. If the same facts as in Van Dairy occurred in relation to NSW land, then the case would be persuasive authority for the same interpretation of the NSW legislation.

    Corporate reconstruction exemptions and concessions

    For the purposes of changing the structure of a corporate group or changing the holding of assets within a corporate group, a taxpayer may seek to consider corporate reconstruction exemptions and concessions. A corporate group broadly consists of a parent corporation and its subsidiaries where there is at least 90% ownership.6 Where such an exemption or concession is available, it provides some flexibility to change the ownership of a landowning entity within a corporate group even after it has acquired land or entered into a contract to acquire land.

    By way of example, the Duties Act 1997 (NSW) relevantly provides for a duty concession for corporate reconstruction transactions. For eligible transactions that occur on or after 1 February 2024, the duty is reduced to 10% of the duty that would otherwise be payable.

    Section 273B applies to a transaction if the Chief Commissioner is satisfied, on application by a party to the transaction, that—

    • the transaction is a corporate reconstruction transaction, and
    • the transaction, or the series of transactions of which the transaction is a part, is undertaken for the purpose of either or both of the following—
      • changing the structure of a corporate group,
      • changing the holding of assets within a corporate group, and
    • the transaction, or the series of transactions of which the transaction is a part—
      • is not undertaken for a purpose of avoiding or reducing duty under this Act on another transaction, and
      • is not undertaken for the sole or dominant purpose of avoiding or reducing a liability for tax, other than duty under this Act, under a law of an Australian jurisdiction.

    All Australian jurisdictions have broadly similar exemptions or concessions, including Tasmania. The Tasmanian exemption was presumably not available in Van Dairy for the transfers of shares in Moon Lake. In the case of the first transfer from Mr Lu to Ningbo, Mr Lu, as an individual, could not have been a member of a relevant corporate group. In the case of the second transfer from Ningbo to VDHK, presumably the two companies were not part of the same corporate group as defined under the duties legislation.

    Actions you can take now

    • Exercise caution when establishing the ownership of a purchaser entity and seek to have the correct ultimate shareholders in place prior to the signing of a contract to acquire land or completion of the purchase. Be aware of the double duty risk if you ‘change your mind’ later.
    • Consider the duty implications of entering into sale and purchase agreements, including where the intended seller or purchaser of the property is not a party to the agreement. Seek timely advice.

    MIL OSI News –

  • MIL-Evening Report: With ‘damp drinking’ and ‘zebra striping’, Gen Z are embracing moderation – not abstinence – from alcohol

    Source: The Conversation (Au and NZ) – By Katinka van de Ven, Alcohol and other drug specialist, UNSW Sydney

    Fewer young Australians are drinking. And when they do drink, they are drinking less and less often than previous generations at the same age.

    It’s a trend happening all around the world.

    The proportion of young people who drink infrequently is growing in the long term. In 2001, 13.6% of Australians aged 18–24 drank less than once a month. That’s since increased to 20%, or one in five.

    The proportion of young people who’ve never consumed a full glass of alcohol has also more than doubled since 2001, from 7.5% to 16.3%.

    But for many, abstinence is not necessarily the goal. An interest in mindful drinking means trends that encourage moderation – including “zebra striping” and “damp drinking” – have taken off on social media.

    So, what are these strategies for cutting down? And are they really something new?

    What is ‘zebra striping’?

    “Zebra striping” means alternating between alcoholic and non-alcoholic drinks. It effectively halves alcohol consumption for most people. This reduces the risk of intoxication because it gives your body time to process the alcohol.

    The term is new but the concept of alternating drinks has long been a cornerstone of harm-reduction strategies.

    A UK study commissioned by a zero-alcohol beer brand found that 25% of pub goers alternate between alcoholic and non-alcoholic beer. While commercial research like this requires cautious interpretation, it does highlight a growing appetite for moderation.

    Is it different to ‘damp drinking’?

    The rise of “damp drinking” is another shift from all-or-nothing approaches to alcohol. In a recent survey, close to 40% of drinkers want to drink less compared to 6.5% who say they want to quit altogether.

    Going “damp” – rather than completely “dry” – means reducing alcohol without cutting it out altogether.

    Having a drink is reserved for special occasions, but generally doesn’t feature in everyday life. This is also known as being “99% sober”.

    It’s an approach that resonates with many young people who are “sober curious”, but do not want to completely abstain from alcohol.

    Moderation can be a sustainable strategy for people who are not dependent on alcohol. Sometimes even people who were dependent can achieve moderation, usually after a period of abstinence. In the past, the consensus was that people who were dependent on alcohol should only aim for complete abstinence.

    Strict sobriety goals can increase risk of relapse. This is referred to as the abstinence violation effect, which can sometimes lead to a cycle of binge drinking and guilt when people feel they’ve failed.

    Moderation strategies, such as damp drinking or zebra striping, are more likely to foster self-compassion and gradual change.

    So what’s behind this cultural shift?

    In part, popular wellness trends have promoted alcohol-free living as a positive and aspirational lifestyle.

    But health concerns are only part of the answer.

    Young people especially face increasing social and economic pressures, and may be more focused on professional and personal growth than previous generations.

    Studies show many view excessive drinking – and accompanying anxiety and hangovers – as incompatible with their ambitions and desire to stay in control.



    Read more:
    Why do I get so anxious after drinking? Here’s the science behind ‘hangxiety’

    Adding to this, social media can make what you do more visible to others – and serve as a permanent record. So some young people are more careful with behaviours that might lead to regret.

    The increasing availability of better-tasting zero-alcohol drinks helps, too.

    Zero-alcohol beer and wine, and mocktails, offer a way to participate socially without the drawbacks of alcohol consumption. These alternatives have reduced the stigma once associated with abstaining or drinking less in social settings.

    This shift is also underpinned by a changing narrative around alcohol. Unlike older generations who often associated drinking with celebration and bonding, younger people are more likely to question the role of alcohol in their lives.

    Binge drinking, once seen as a rite of passage, simply may not be as “cool” anymore.

    Finding support for change

    Given the health risks associated with drinking, such as cancer, liver disease and mental health issues, it’s great news more young people are reducing their drinking.

    But four in ten young people (42%) are still consuming alcohol at risky levels.

    The Australian national alcohol guidelines try to balance the social benefits and the health risks of drinking.

    If you drink within the guidelines – no more than ten drinks a week and no more than four in any one day – you have a one in 100 chance of dying from an alcohol- related illness like cancer or heart disease.

    If you drink above those guidelines the risk of these issues exponentially increases.

    If you are looking to change your relationship with alcohol, self-reflection is a vital first step. Key questions to consider include:

    • is alcohol negatively impacting my health, relationships or work?
    • do I struggle to enjoy social occasions without drinking?

    Alcohol and other drug support organisations such as Hello Sunday Morning and Smart Recovery offer free, evidence-based, digital support and resources for people looking to change their drinking.

    These services emphasise harm reduction and self-compassion, encouraging individuals to set realistic goals and achieve lasting change.

    Dr Katinka van de Ven is the Research Manager of Hello Sunday Morning. She also works as a paid evaluation and training consultant in alcohol and other drugs. Katinka has previously been awarded grants by state governments and public funding bodies for alcohol and other drug research.

    Nicole Lee works as a paid evaluation and training consultant in alcohol and other drugs. She has previously been awarded grants by state and federal governments, NHMRC and other public funding bodies for alcohol and other drug research. She is CEO of Hello Sunday Morning.

    – ref. With ‘damp drinking’ and ‘zebra striping’, Gen Z are embracing moderation – not abstinence – from alcohol – https://theconversation.com/with-damp-drinking-and-zebra-striping-gen-z-are-embracing-moderation-not-abstinence-from-alcohol-246250

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Bitget Wallet to Power $LAYER Airdrop Claims and Trading at TGE

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 10, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, announced its pioneering support for Solayer’s $LAYER Genesis Drop. Users can now check airdrop eligibility directly in the wallet, with full support for token claiming and trading starting at the Token Generation Event (TGE) on February 11, 2025. This streamlined process ensures easy verification, token claims, and immediate trading access.

    Bitget Wallet is one of the earliest wallets to support the $LAYER Genesis Drop, demonstrating its dedication to keeping users at the forefront of token opportunities. Eligible users who staked $SOL and accumulated points can check their eligibility now by navigating to the airdrop section on Bitget Wallet’s Discover page. From February 11, users can seamlessly claim their $LAYER airdrop within the wallet. Immediately after claiming, users will have access to $LAYER trading, capturing potential market opportunities as prices evolve. Bitget Wallet also offers real-time K-line charts for dynamic trading insights, providing a one-stop platform to claim, manage, and trade $LAYER tokens.

    Solayer has revealed comprehensive tokenomics for $LAYER, detailing its total supply of 1 billion tokens and an initial circulating supply of 220 million. The airdrop will allocate 12% of the token supply to over 250,000 early users who meet the eligibility criteria. Users can now check their eligibility directly within the Bitget Wallet. The allocation checker will go live on February 10, and eligible users will be able to claim their tokens starting February 11. The claiming period will extend for 30 days, with rewards structured based on the amount and duration of users’ staking activities, designed to promote sustained engagement.

    Solayer is a blockchain platform designed to tackle scalability challenges through advanced hardware acceleration. Its InfiniSVM architecture enables high-throughput and near-zero latency, processing over 1,000,000 transactions per second with network bandwidth exceeding 100 Gbps. This design scales the Solana Virtual Machine (SVM) to support next-generation decentralized applications (dApps) while maintaining strong security. Through its innovative restaking feature, users can leverage their staked assets as collateral, optimizing asset use and enhancing Solana network security while offering greater reward opportunities.

    Alvin Kan, COO of Bitget Wallet, stated: “By supporting Solayer’s $LAYER Genesis Drop, we enable our users to fully benefit from the evolving Solana ecosystem, whether through token claims or trading functionalities. With Bitget Wallet’s streamlined integration of these services, users can seamlessly access DeFi opportunities and play an active role in the growth of next-generation dApps.”

    About Bitget Wallet
    Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, an NFT marketplace and crypto payment. Supporting over 100 blockchains, 20,000+ DApps, and 500,000+ tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users’ assets. Experience Bitget Wallet Lite to start a Web3 journey.
    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook
    For media inquiries, please contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4207dd18-d998-4406-a055-271339da889f

    The MIL Network –

  • MIL-OSI Australia: Albanese Government creating a better pathway for financial advisers

    Source: Australian Treasurer

    The Albanese Government is rebuilding a strong and sustainable financial advice industry that ensures Australians can access high quality and affordable financial advice.

    The advice industry was abandoned and decimated by the former Coalition government, as the number of advisers fell from 28,000 in January 2019 to less than 16,000.

    The Government will reform the education requirements for professional financial advisers to create a sustainable pathway for new advisers to enter the profession.

    Currently, the professional pathway for financial advisers is composed of four requirements:

    • completion of an approved qualification, with the list of approved qualifications limited to those focused specifically on financial advice;
    • a 1,600 hour professional year;
    • completion of the financial adviser exam; and
    • continuing professional education.

    The current education pathway is not sustainable. School leavers are not attracted to the specialised area of study, and it is a significant investment for career changers. Fewer Higher Education Providers are offering courses due to the lack of entrants.

    Under the Government’s changes, the proposed education standard will centre around a new requirement to hold a bachelor’s degree or higher in any discipline.

    Prospective advisers will need to meet minimum study requirements in relevant financial concepts such as finance, economics or accounting. They will also need to complete financial advice subjects covering ethics, legal and regulatory obligations, consumer behaviour and the financial advice process.

    This provides relevant core knowledge for an adviser, streamlines entry into the industry and retains the important role of tertiary education.

    It will also bring down the costs on prospective advisers and make it easier for people to change careers into financial advice later in life.

    For most students studying a Commerce, Economics or Finance degree – or people moving across from other financial services careers – the cost and time to meet the requirements under the new standard will be halved.

    Advisers will still need to complete a professional year, pass the financial adviser exam and undertake ongoing continuing professional education.

    These reforms will complement the education requirements for the new class of financial advisers. We will ensure the pathway is aligned to enable the new class of adviser to transition into the professional advice ranks.

    The Government will work with industry and higher education providers to ensure an appropriate transition to the new education standard.

    Further, the Government will no longer proceed with Stage 2 of the registration process for financial advisers established by the Better Advice Act. This stage would have required individual advisers to register annually with the Australian Securities and Investments Commission from 1 July 2026.

    Financial advisers are already registered by their authorising Australian Financial Services licensees under Stage 1. Not proceeding with Stage 2 removes unnecessary red tape on individual advisers.

    These reforms build on the Government’s Delivering Better Financial Outcomes package to help address the current supply shortage of financial advisers, cut red tape that is not leading to better consumer outcomes, and strengthen the industry’s ability to meet the future demand for financial advice.

    MIL OSI News –

  • MIL-OSI Australia: Address to Conexus – Advice Policy Summit

    Source: Australian Treasurer

    Introduction

    I would like to acknowledge the Ngunnawal and Ngambri people as the traditional custodians of the land we are meeting on.

    I pay my respects to their Elders past and present, and I acknowledge any First Nations Australians in attendance.

    Thank you to Colin and the team at Conexus for the opportunity to contribute to your discussion this week.

    Australians need access to quality and affordable financial advice.

    Quality financial advice can give Australians peace of mind.

    It can help protect them from the risks of scams and dodgy investments.

    And it can lift their financial well‑being and set them up for the future.

    But – as you well know – quality financial advice is sadly out of reach for too many Australians.

    It is why I have spent my time as Minister undertaking the largest reform project to financial advice in over a decade.

    Because Australians need it.

    And reform was needed.

    This space was left in tatters by the previous government.

    Under their watch, the number of advisers fell from 28,000 in 2019 to where we are today with fewer than 16,000 advisers.

    A shrinking pool of advisers became laden with higher costs that made advice increasingly unaffordable and inaccessible for Australians.

    Now I am heartened by comments from the Shadow Minister and Opposition who I believe want to support our reform direction.

    And I take that support at face value.

    But unfortunately, their actions when in government told a different story.

    Within a few months, we will be asked to vote on the direction of the country.

    Australians who want better access to advice and information will need to judge the Opposition on their record, not just their rhetoric.

    In contrast, the actions of our reforms have been based around 3 objectives.

    We need to retain and attract more financial advisers into the industry.

    We need to cut unnecessary red tape that is driving up costs without providing a consumer benefit.

    And we need to ensure Australians have confidence to seek advice and engage in the financial system.

    Retaining financial advisers in the industry

    Before coming to government, I made a commitment to address a glaring problem in the sector.

    It has been a bipartisan commitment to professionalise the financial advice industry.

    The modern financial adviser will have a degree, pass an exam, adhere to a code of ethics, and undertake on‑the‑job training.

    This has raised the quality of financial advice that clients expect, giving them confidence and supporting better outcomes.

    However, the implementation of the requirement for financial advisers to hold tertiary education qualifications was bungled.

    Long‑time advisers, who had diligently acted in their clients’ best interests, were told to go back to university or find a new line of work.

    Unsurprisingly, advisers started leaving the industry in droves.

    Not every exit was a tragedy.

    But plenty of good advisers felt they had no choice but to abandon their work like they had been abandoned by the previous government.

    This was a genuine crisis point for the industry’s viability.

    I couldn’t stand by and let this continue to unfold.

    So we made an election commitment to introduce a new pathway for experienced advisers with a clean record to remain in the industry.

    And upon coming to government, we quickly acted to legislate this reform.

    Over a quarter of the industry has now used our pathway to continue to provide Australians with the advice and information they need.

    4,000 advisers who could have been lost to the industry.

    It was a necessary change that was in the public interest.

    Bringing new financial advisers into the industry

    But this only staunched the bleeding.

    FASEA put an albatross around the neck of the industry with an unwieldy and impractical education standard for advisers.

    Even the opposition realised the folly of their ways and disbanded FASEA.

    But its effect was not addressed.

    Most people who end up in the financial advice industry have told me that they did not take a direct path there.

    They didn’t know at the age of 18 that they wanted to be an adviser.

    But the previous government set up a system that immediately thins the herd of potential new advisers.

    Individuals are required to make a significant investment in a highly specialised degree.

    That means many young people are locked out if they want to keep their options open by studying degrees that apply across many industries.

    There are also very few universities offering a degree in financial planning –

    And there will be even fewer if we keep on the current track as the demand is not there.

    In some ways, the previous government set up a perfect process so long as you don’t need it to train new advisers.

    No other industry has been treated like this and it needs to be addressed.

    We’re committed to the professionalisation of the industry.

    We’re committed to a high quality of advice for consumers.

    And we want to repair and rebuild the sector by expanding the pool of advisers.

    So today I am announcing the next step in our reform of the financial advice industry.

    The government will reform the education standards for professional financial advisers to expand the supply of high quality, helpful and safe advice.

    The new standard will continue to recognise the important role of tertiary education.

    Under our proposal, individuals will be able to hold a bachelor’s degree or higher in any discipline.

    Prospective advisers will need to meet a minimum study requirement in financial concepts such as finance, economics or accounting.

    This means firms will be able to attract graduates with degrees in economics, commerce, and finance, amongst others.

    They will also need to complete core prescribed accredited financial advice subjects.

    This will cover ethics, legal and regulatory obligations, consumer behaviour, and the financial advice process.

    This creates a better pathway for career changers who will be able to enter the industry later in life.

    For example, someone with a Commerce degree may only need to do the financial advice components – if they haven’t already done it.

    This will be complemented by the remaining standards that advisers need to meet –

    Namely, the professional year, the financial adviser exam and ongoing education obligations – which will be unchanged.

    In combination, this will give consumers confidence that they are getting value and quality.

    The cost and time to meet the requirements under the new standard will be halved for most students studying a commerce, economics or finance degree.

    It will be halved for people moving across from other financial services careers.

    We will also ensure that the education requirements for the new class of adviser will be aligned.

    This will create another logical entry‑point to rebuild the advice industry.

    This is all about keeping the pipeline of prospective advisers open as wide as possible for as long as possible.

    I recognise that some advisers have followed the current pathway.

    And I respect the hard work they have done to enter the profession – which is not going to be taken away from them.

    But the status quo is unsustainable and without change, the profession will hit another crisis point down the track.

    All while the demand for advice is only going to go up because of the 5 million Australians at or approaching retirement.

    Cutting unnecessary red tape

    We also need to free up advisers to help their clients with relevant advice that is safe and quality.

    As it stands, the law makes it difficult for advisers to satisfy themselves that they have met the best interests of their clients unless they provide comprehensive advice.

    Everything flows from that.

    Advice is not always targeted at what the client wants.

    Statements of advice are too long and unhelpful.

    And the cost of advice is too high.

    The second tranche of our financial advice reform package will address this.

    I will be the first to say that I wish I could give you a draft bill right now.

    It is our priority and is being written as we speak.

    But it is complex.

    And we cannot risk endangering consumers by getting this wrong.

    Or being too cautious so as to miss this moment to shift the dial.

    We have worked constructively across all sectors of the industry – and will continue to do so.

    That has taken time, but it has led to a better package for consumers.

    There are some who are still suggesting that all the recommendations of the Quality of Advice Review should have been adopted in full.

    That should be challenged.

    If we had done that, the legislation would not have been supported by stakeholders or by parliament.

    But I reaffirm that we are committed to modernising the best interests duty and reforming statements of advice.

    Just as we are committed to introducing a new class of adviser that any financial firm can employ to give safe advice.

    And we are committed to ensuring those 5 million Australians are able to access helpful advice, information and nudges through their super fund.

    I also announce today that we are going further in cutting red tape.

    The government will not proceed with Stage 2 of the registration process for financial advisers established by the Better Advice Act under the previous government.

    This stage would have required individual advisers to register with ASIC from 1 July 2026 on an ongoing annual basis.

    Financial advisers are already registered by their authorising AFSL under Stage 1.

    Not proceeding with Stage 2 will retain this existing requirement but will remove an additional regulatory burden on individual advisers.

    This would have simply been an additional cost for no benefit to consumers.

    Confidence to seek advice and engage in the financial system

    The final piece of the puzzle is to ensure that Australians have confidence to seek advice and engage in the financial system.

    I was delighted to see our Scams Prevention Framework legislation pass the House of Representatives last week.

    This is another step forward in making Australia the toughest place in the world for scammers to target.

    Financial advice and our scams prevention work are 2 sides of the same coin.

    We want to ensure that advice is affordable so that Australians go to regulated and safe sources of advice – not dodgy scammers.

    Preventing scams is also necessary for Australians to feel confident to invest and engage in the financial system.

    So our scams work is vital for our financial advice reform.

    Sadly, Australians can get inappropriate financial advice that means they lose everything.

    And there is a bipartisan commitment that consumers should have access to some redress when this occurs.

    The previous government failed to implement the Compensation Scheme of Last Resort, even though they talked about doing it.

    We have implemented it as recommended by the Ramsay Review and Hayne Royal Commission.

    We welcomed the bipartisan support for its design – given it is the same scheme introduced into parliament by the last government.

    But, I am not convinced that it is in its final form.

    I am concerned about the sustainability of the scheme on its current trajectory.

    It is not sustainable for financial advisers.

    And it is no good for consumers if the scheme falls over.

    Some people want the quick fix – and I wish there was one.

    Unfortunately, 2 of the biggest cases to hit the CSLR – Dixon and United Global Capital – have very different characteristics that make a quick fix very difficult.

    So I have tasked Treasury to review the CSLR immediately.

    We need to ensure that it is sustainable.

    And we need to ensure that it is meeting the objective that we all support.

    It is not about guaranteeing investment returns.

    But about ensuring genuine victims have access to some redress.

    This is an important part of the financial system for advisers.

    Because it gives Australians confidence that there is a back stop in situations of genuine last resort.

    It’s in all our interests to ensure that is what it is doing.

    Conclusion

    So – more financial advisers and less red tape.

    And confidence for Australians to seek advice and engage in the financial system.

    It’s a big piece of work, but a piece of work that is in the public interest.

    I am not the first Assistant Treasurer to say a word on financial advice.

    And I won’t be the last.

    But I’m confident that I am leaving the sector in a better place, and on a better path.

    And I believe that Australians will be better off because of it.

    MIL OSI News –

  • MIL-OSI New Zealand: Release: Health system will suffer from ‘let it fail’ strategy

    Source: New Zealand Labour Party

    National’s cutting of digital staff in our health system will put patients at risk and leave hospitals vulnerable to cyber-attack.

    Feedback from Health New Zealand Te Whatu Ora staff on proposed redundancies in data and digital staff reveals deep concerns about a ‘fail early, fail often, succeed over time’ strategy.

    “Patient data is too important to let the systems that manage and protect it fail. This is New Zealand’s health system – not tiddlywinks. It needs to be taken seriously,” Labour acting health spokesperson Peeni Henare said.

    “National’s cuts have already affected the frontline, which is a broken promise. 

    “Cuts to data and digital services will have consequences for New Zealanders trying to get care, from the potential for their personal information being hacked, to accurate record keeping of their health information.

    “Cuts to data management will disproportionately impact Maori, Pacific and rural communities.

    “National has made a big song and dance about targets in health, but without the data to back up what they’re doing, it will only make it easier to game the system – as they have done in the past.

    “On top of the crisis in leadership that Christopher Luxon is overseeing at Health New Zealand, these ongoing cuts to the frontline are only going to make it harder for everyday New Zealanders to access the healthcare they need. The cuts must stop,” said Peeni Henare.

    Stay in the loop by signing up to our mailing list and following us on Facebook, Instagram, and X.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: 35-2025: *Update* Scheduled Outage: Saturday 15 February to Sunday 16 February 2025 – BICON, eCertificates, EVE, EXDOC, NEXDOC

    Source: Australia Government Statements – Agriculture

    10 February 2025

    Who does this notice affect?

    All clients required to use the Biosecurity Import Conditions System (BICON) during this planned maintenance period.

    All clients required to use the Export / Next Export Documentation (EXDOC/NEXDOC) systems during this planned maintenance period.

    Approved arrangements operators who will be required to view electronic government certificates (eCertificates) and relevant attachments online via external verification for…

    MIL OSI News –

  • MIL-OSI China: Trump to announce 25-percent steel and aluminum tariffs

    Source: China State Council Information Office

    U.S. President Donald Trump said on Sunday that he will announce new 25-percent tariffs on all steel and aluminum imports into the United States, with the official statement to be made on Monday.

    Speaking to reporters on Air Force One, Trump also said he would announce “reciprocal tariffs” as soon as Tuesday to align with those of its trading partners.

    During his first term, Trump imposed tariffs of 25 percent on steel and 10 percent on aluminum imports citing national security concerns but later allowed certain trading partners, including Canada, Mexico and Brazil, to receive duty-free quotas.

    Under former President Joe Biden, the United States continued some tariff exemptions introduced under Trump and extended new quotas for the European Union, Britain and Japan.

    On Feb. 1, Trump signed executive orders to impose 25-percent additional tariffs on imports from Canada and Mexico and a 10-percent tariff hike on imports from China, drawing widespread opposition and immediate retaliations. He later paused the tariffs on Mexico and Canada for one month to allow negotiations.

    MIL OSI China News –

  • MIL-OSI China: Sales push as brands brace for tough 2025

    Source: China State Council Information Office

    Right after the Spring Festival holiday, automobile markets in China have become hectic, touting new features, offering discounts and even appearing in movies to woo potential car buyers.

    Tesla announced on Wednesday, the first working day after the weeklong holiday, a time-limited discount of up to 8,000 yuan ($1,098) on its Model 3. On the same day, Xpeng unveiled five-year installment and interest-free loan offers.

    But at the head of the pack was Nio, whose offer — which includes interest-free five-year loan plans — came days before the Spring Festival holiday ended.

    Meanwhile, Great Wall Motor’s Tank, BAIC’s Arcfox and Dongfeng’s off-road brand Mengshi have either starred in Chinese New Year blockbusters including Ne Zha 2 or partnered with their producers in publicity campaigns.

    Behind the diverse tactics is the same sense of urgency: after a brutal 2024 they believe the vehicle market this year will be more cruel, despite the China Association of Automobile Manufacturers expecting the overall market size to go up 4.7 percent to 32.9 million units.

    The elimination phase has begun and many of the car manufacturers are struggling to “beat the count”, said analysts from consulting firm McKinsey in a report released on Thursday.

    “Those which cannot come up with decent electric vehicles in one or two years, and those which are deep in the red but cannot offer a convincing strategy to go green, will be forced to leave the race,” they said.

    In the bigger picture, Chinese brands, whose rise is the defining feature of the current market landscape, are relatively safe.

    Over the past five years, the number of Chinese car brands selling more than 600,000 vehicles annually jumped from 11 in 2020 to 13 in 2024, signaling a dramatic shift toward greater market concentration.

    More tellingly, for the first time, Chinese brands have broken into the ranks of those with sales exceeding 1.2 million units annually — a mark that was once the exclusive domain of foreign brands.

    In January, seven out of the 10 bestselling carmakers in the country were Chinese; Geely topped the chart, followed by BYD and Changan.

    These domestic brands have not only capitalized on China’s rapid push toward NEVs but positioned themselves as leaders in the transition to intelligent mobility.

    However, smaller Chinese brands, especially startups, are yet to gain a firm foothold. There are currently 37 active NEV brands in China. Of them, 12 are independent startups and the rest, such as Zeekr, Voyah and Avatr, are offshoots of larger traditional manufacturers.

    Now at least five of the NEV brands have become profitable. Those who cannot go green in the next 12 to 18 months, or at least come up with a feasible plan, may trigger speculation, said McKinsey.

    This is particularly true after Jidu, a partnership between Geely and Baidu, and Neta got into financial trouble in late 2024, leaving car owners and even employees nowhere to resort to.

    For foreign carmakers, the picture is far from rosy. Once the undisputed leaders of China’s car market, their position is becoming precarious.

    A combination of technology lag, reduced brand loyalty and aggressive pricing strategies from domestic players has eroded their dominance, according to McKinsey.

    It projects the market share of foreign carmakers, which once commanded over half of all car sales in China, to fall to just 30 percent by the end of this year from 40 percent now.

    The decline is a direct result of the seismic shift toward electric vehicles and smart driving technology — areas where many foreign brands have struggled to keep pace.

    The profit margins of joint-venture carmakers have taken a significant hit. McKinsey’s analysis reveals that, from 2017 to 2023, the profits of the top 10 leading Chinese joint-venture companies dropped by 34 percent in the country.

    For many foreign brands, the situation is compounded by a weakening consumer base, especially as new domestic models with cutting-edge features flood the market.

    Some foreign companies, such as Volkswagen and its premium Audi brand, have responded by forming strategic partnerships with Chinese manufacturers, seeking to import Chinese technological innovations into their own models.

    However, these collaborations, though beneficial in the short term, are unlikely to be a silver bullet, said McKinsey analysts.

    They said the strategy may help bridge the gap in the short term, but it does little to address the core issue: foreign brands are increasingly irrelevant to a generation of Chinese consumers that are growing more attached to homegrown offerings.

    New tech prospects

    Looking to the future, the next frontier in China’s automotive revolution is clear: intelligent driving and smart in-car experiences.

    In 2024, intelligent driving technologies — once seen as futuristic — have become mainstream, with major manufacturers offering vehicles equipped with features that can drive themselves on highways and in cities.

    The market for intelligent driving technology is growing at a blistering pace, and consumers are increasingly embracing these innovations.

    A McKinsey poll shows that 76 percent of respondents tried smart driving in 2024, up from 65 percent in 2023.

    Despite the rising consumer interest, however, McKinsey cautions that the industry faces challenges.

    While intelligent driving technologies are rapidly improving, they have yet to find a sustainable business model.

    The growing trend of “free” software upgrades, for example, has left carmakers struggling to monetize these features.

    More promising is the rise of the “smart cockpit”, where cars transform from mere transportation tools into living rooms.

    As intelligent driving systems become standard, the focus is shifting to in-car experiences, with carmakers investing heavily in creating more personalized, intuitive environments for consumers, said McKinsey.

    MIL OSI China News –

  • MIL-OSI China: ‘World’s supermarket’ reopens after holiday

    Source: China State Council Information Office 3

    A merchant adorns her store with Spring Festival decorations in the Yiwu International Trade Market in Yiwu, east China’s Zhejiang Province, Feb. 9, 2025. [Photo/Xinhua]

    Yiwu International Trade Market, the world’s largest wholesale market for small commodities located in the city of Yiwu in east China’s Zhejiang Province, reopened on Sunday after the Spring Festival holiday, marking a vibrant start to the Year of the Snake.

    The reopening ceremony featured traditional lion dances and drum performances, creating a vibrant and festive atmosphere.

    Merchants like toy shop owner Chen Meijun voiced optimism for a prosperous year ahead.

    “We received inquiries from regular customers during the holiday, and we expect sales to grow by over 10 percent this year,” Chen said, noting that she plans to expand her business internationally, with trips to Mexico and Kenya scheduled this year.

    Actresses perform at the Yiwu International Trade Market in Yiwu, east China’s Zhejiang Province, Feb. 9, 2025. [Photo/Xinhua]

    Dubbed “world’s supermarket,” Yiwu is an international hub for small commodity production and trade, attracting customers from around the world.

    Nepalese buyer Raj Kumar Khadka was among the first clients to arrive, planning to order ceramics, glassware and other goods worth around 1 million yuan (about 139,500 U.S. dollars).

    A frequent visitor who first came to the city for business 23 years ago, Khadka said Yiwu plays a crucial role in the international commodity trade.

    “Yiwu taught me how to do business,” he said. “Because of this city, I was able to meet people from all over the world and learn about their languages and cultures.”

    The trade market’s 75,000 shops are connected to over 2.1 million enterprises, supporting approximately 32 million jobs. Its strong purchasing demand and diverse product offerings highlight the resilience and growth potential of China’s economy.

    Many businesses are capitalizing on emerging trends, such as 3D-printed toys, which have gained popularity for their vibrant colors and intricate designs.

    “We have invested heavily in R&D and plan to expand our footprints in developed markets while tapping into domestic demand,” said Zeng Hao, manager of a toy company producing and selling 3D-printed toys.

    A dragon dance is staged at a square of the Yiwu International Trade Market in Yiwu, east China’s Zhejiang Province, Feb. 9, 2025. [Photo/Xinhua]

    In late 2024, China’s State Council approved an overall plan for deepening comprehensive international trade reforms in Yiwu, which outlines a vision to promote reforms through further opening up, along with initiatives such as innovating market procurement trade mechanisms, promoting import trade development, enhancing the functionality of comprehensive bonded zones, and strengthening cross-border e-commerce regulations.

    Innovation has become a driving force behind Yiwu’s enduring success. Since 2023, the Chinagoods AI platform, launched by Zhejiang China Commodities City Group Co., Ltd., has gained attention for enabling Yiwu’s business owners to effortlessly create multilingual versions of product videos, supporting over 30 languages.

    Today, more businesses are using new technologies to expand their reach and attract customers.

    At a digital shop in the market, manager Bao Haigang demonstrated a headset that accurately translates over 100 languages via a smartphone app. He said this AI-powered headset launched in 2024 has seen strong sales in markets like Brazil.

    “We will continue integrating AI into traditional products and expect over 30 percent sales growth this year. We are very confident,” Bao said.

    MIL OSI China News –

  • MIL-OSI Australia: Arrest – Kava seizure – Maningrida

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force has arrested a 24-year-old male in relation to a Kava seizure that occurred in Maningrida on Saturday.

    Around 12:00pm, local police conduced a lawful search of a property in the community after they received intelligence that the substance was present at the premises.

    During the search, police located and seized 255.13kg of Kava and over $3,900 in cash.

    A 24-year-old male was arrested at the scene and charged with possess commercial quantity of kava and supply commercial quantity of kava.

    The alleged offender is due to appear in the Darwin Local Court on Thursday 13 February 2025.

    Sergeant Timothy Gillahan said, “I commend the officers for their swift action in response to intelligence, as well as the community for their reporting.

    “This seizure will undoubtedly reduce the social and financial harm within the community often caused by Kava use. 

    “The NT Police Force remains committed to disrupting the flow of destructive substances into restricted communities.”

    MIL OSI News –

  • MIL-OSI Security: Coast Guard interdicts 12 aliens near Point Loma

    Source: United States Coast Guard

    U.S. Coast Guard sent this bulletin at 02/09/2025 11:00 PM EST

     

    02/09/2025 10:32 PM EST

    Coast Guard members interdicted 12 aliens aboard a 25-foot sail vessel approximately 12 miles west of Point Loma, Sunday. At approximately 10:19 a.m, a Customs and Border Protection patrol aircraft and a Coast Guard MH-60 Jayhawk helicopter sighted the sail vessel.

    MIL Security OSI –

  • MIL-OSI: TWAAO Clarification Statement: A Legally Compliant Trading Platform with International Accreditation

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 09, 2025 (GLOBE NEWSWIRE) — Recently, the German Federal Financial Supervisory Authority (BaFin) issued a notice claiming that TWAAO was providing financial, securities, and cryptocurrency asset services in Frankfurt without the necessary authorization. TWAAO takes this matter seriously and wishes to provide its users with a detailed clarification regarding its qualifications and compliance.

    Global Compliance Credentials Obtained by TWAAO

    Founded in 2019 in the United States, TWAAO is an innovative cryptocurrency trading platform. The company has always adhered to the principles of legal and compliant operations, upholding the user-first value at the core. TWAAO has obtained multiple internationally recognized regulatory certifications, including but not limited to:

    • U.S. MSB License

    TWAAO holds a FinCEN-issued MSB license, authorizing legal cryptocurrency operations under U.S. regulatory standards.

    • Canadian MSB License

    Registered with FINTRAC, TWAAO’s Canadian MSB license confirms international regulatory compliance.

    • License Issued by U.S. Securities and Exchange Commission (SEC)

    As an SEC-registered crypto platform, TWAAO adheres to securities laws, ensuring a secure, transparent investment environment.

    Background Explanation of the BaFin Announcement

    The warning issued by BaFin primarily targets trading platforms that have not met its local registration requirements, such as Binance, Bybit, and Plus500, which have also been publicly listed. It does not dispute the legitimacy of these platforms. TWAAO has already obtained multiple authoritative licenses internationally, leaving no doubt about its compliance. TWAAO is actively communicating with the relevant authorities to understand the specific local regulations and is working on the registration process to ensure compliance with local market requirements.

    Commitment to Legal Compliance and User-Centric Principles

    TWAAO will take the BaFin compliance requirements as an opportunity to further enhance its legal compliance framework, ensuring the stability of platform operations and the safety of user rights. TWAAO will actively communicate and operate in compliance with the laws and regulations of different countries and regions, providing a safer, more transparent, and compliant trading environment for users worldwide.

    Holding sincere gratitude to its global users for their trust and support, TWAAO will continue to adhere to the core philosophy of putting users first and remain committed to building a trustworthy cryptocurrency trading platform that meets international standards.

    The MIL Network –