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  • MIL-OSI: Aki Rahunen appointed Innofactor’s CFO

    Source: GlobeNewswire (MIL-OSI)

    Innofactor Plc Stock Exchange Release – Changes in Board/Management/Auditing February 7, 2025, at 9:30 Finnish time

    Innofactor’s Board of Directors has appointed Aki Rahunen as the CFO for Innofactor Group, and he will assume the position no later than May 8, 2025. Rahunen is currently serving as the CFO of Avidly. Previously, Rahunen has held the position of CFO at Fluido, among others. M.Sc. (Econ.) Rahunen will become a member of Innofactor’s Executive Board in his role as the CFO and will report to the Group’s CEO Sami Ensio.

    “I am excited about my new role at Innofactor. It is great to join this journey. I believe that with my broad experience, I can support Innofactor’s business and help Innofactor continue on the path of profitable growth,” says Aki Rahunen.

    “I am very pleased that we have Aki joining our team. He has exactly the right kind of practical expertise for Innofactor’s new strategic phase. I am convinced that in his role as CFO, Aki will further develop Innofactor’s financial management and support our business leadership in achieving our business goals,” says CEO Sami Ensio.

    Espoo, February 7, 2025

    INNOFACTOR PLC

    Sami Ensio, CEO

    Additional information:
    Sami Ensio, CEO
    Innofactor Plc
    Tel. +358 50 584 2029
    sami.ensio@innofactor.com

    Distribution:
    NASDAQ Helsinki
    Main media
    www.innofactor.com

    Innofactor
    Innofactor is the leading driver of the modern digital organization in the Nordic Countries for its about 1,000 customers in commercial and public sector. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor has about 600 enthusiastic and motivated top specialists in Finland, Sweden, Denmark and Norway. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ Helsinki Oy. www.innofactor.com  #AIDriven #PeopleFirst #CreatingSmiles #BeTheRealYou

    The MIL Network –

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on February 07, 2025

    Source: Reserve Bank of India

    Tenor 3-day
    Notified Amount (in ₹ crore) 1,50,000
    Total amount of bids received (in ₹ crore) 1,33,013
    Amount allotted (in ₹ crore) 1,33,013
    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: 2024-2025/2099

    MIL OSI Economics –

  • MIL-OSI USA: At EPA Headquarters, Senator Markey, Members of Congress Denied Access and Meeting with DOGE Members, Administrator

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

    WATCH: Senator Markey’s Remarks at EPA Headquarters

    Washington (February 6, 2025) – Earlier today at Environmental Protection Agency (EPA) headquarters, Senator Edward J. Markey (D-Mass.), a member of the Senate Environment and Public Works Committee, Yassamin Ansari (AZ-03), and Paul Tonko (NY-20) were denied a meeting with EPA Administrator Lee Zeldin and DOGE representatives, where the lawmakers planned to ask why funding to critical EPA programs for clean air, clean water and climate action have been unconstitutionally cut off to communities and to demand that the funding that has already been authorized and appropriated by Congress be rightfully unfrozen.

    Despite multiple court orders requiring the restart of funding, Trump administration officials have failed to release billions of dollars at the EPA that were authorized and appropriated for Inflation Reduction Act (IRA) and clean school bus programs as required by law—leaving communities without resources to combat the effects of dangerous pollution.

    “Donald Trump, Elon Musk, and their unqualified, unelected, unwanted henchmen want to dismantle the government services that keep our communities thriving, healthy, and safe from polluters,” said Senator Markey. “I went to the headquarters of the EPA to demand answers from Administrator Zeldin and the DOGE representatives who are illegally withholding funding that would keep air and water clean and help save families save money. After being denied access and a meeting, I left with more questions than answers. I will not stop fighting on behalf of the American people—their clean air, clean water, lower energy bills, and livable future–until I get those answers and funding gets restored. No business as usual. No votes for nominees. No illegal funding freeze. And no workers left behind.”

    Congressmembers Jerrold Nadler (NY-12), Luz Rivas (CA-29), Maxine Dexter (OR-03), Melanie Stansbury (NM-01), and leaders and advocates from several environmental groups and unions including Climate Action Campaign, American Federation of Government Employees, Green New Deal Network, WE ACT for Environmental Justice, Hip Hop Caucus, Union of Concerned Scientists, Natural Resources Defense Council, National Council of Churches, and Moms Clean Air Force joined the lawmakers for a press conference outside the EPA headquarters following the attempt to meet with EPA Administrator Zeldin and DOGE representatives.

    MIL OSI USA News –

  • MIL-OSI China: Foreigners enjoy China’s improved mobile payment

    Source: China State Council Information Office 3

    Tourists from France enjoy a soup dumpling at Yuyuan Garden Mall in Shanghai, east China, Jan. 21, 2025. [Photo/Xinhua]

    Foreign visitors in China experienced a smoother, more convenient travel environment during this year’s Spring Festival, thanks to improvements to the country’s mobile payment systems.

    The latest data from the People’s Bank of China shows that the volume of transactions made by international tourists during the Chinese New Year holiday, which ran from Jan. 28 to Feb. 4 this year, surged significantly from last year. The total number of cross-border transactions processed by China UnionPay and NetsUnion Clearing Corporation increased 124.54 percent, and the total transaction value grew 90.49 percent.

    This jump in payment activity reflects not only the growing appeal of China as a travel destination but also the seamless integration of mobile payment systems for foreign visitors.

    In cities like Shanghai, foreign tourists can now use international credit cards or mobile payment apps such as Alipay for shopping, dining and sightseeing, which allowed tourists to enjoy the cultural experiences on offer fully during the Chinese New Year.

    German tourist Carla Uhrmacher, who visited the famous Yuyuan Garden in the eastern Chinese metropolis of Shanghai, was impressed by the ease with which she could use her mobile payment app to buy traditional Chinese crafts and souvenirs. “Whether using Visa or Mastercard, or mobile payment systems, it’s all very seamless,” she noted, highlighting how accessible these payment methods are for international visitors.

    This Spring Festival saw an increase in payment transactions and a significant rise in the number of foreign visitors to China. Inbound arrivals during this year’s Spring Festival hit a record high, with a 150 percent year-on-year leap reported, Lin Jian, a spokesperson for China’s foreign ministry, told a press conference on Wednesday, citing data from third-party platforms.

    While popular destinations such as Beijing, Shanghai and Guangzhou continued to attract large numbers of foreign travelers during the holiday, cities like Suzhou, Xi’an, Chengdu and Xiamen emerged as new favorites for international tourists using mobile payment services, Alipay data shows.

    This surge in international visitors can be largely attributed to China’s ongoing efforts to enhance its payment services for foreigners. The country has made it easier for international travelers to use their foreign credit cards by allowing them to link these cards directly to popular Chinese mobile payment platforms like Alipay and WeChat Pay.

    An increasing number of international e-wallets are now also supported for use in China. Alipay, for example, now allows users to link 13 different overseas e-wallets from countries like the Philippines, Thailand and Singapore.

    Though cashless payment services have improved significantly, foreign tourists can also take advantage of a network of nearly 70,000 bank branches, 320,000 ATMs, and currency exchange facilities across the country.

    This year’s Spring Festival also saw a notable increase in foreigner spending, particularly in cities like Beijing, where tourists from various countries flocked to shopping areas such as Qianmen Street to purchase souvenirs, local teas and trendy clothing.

    This spending boom is backed by figures, with the number of transactions made by foreign visitors on WeChat increasing 134 percent compared to last year’s Spring Festival, and with the total spent via Alipay rising 150 percent during the first five days of the holiday. These figures reflect not only the convenience of mobile payments but also the growing enthusiasm of foreign tourists to purchase Chinese goods and immerse themselves in local culture.

    An increasingly open China is becoming an even more attractive destination for international tourists as Chinese New Year is celebrated globally, and as payment services continue to improve, analysts in China have noted. And these improved payment experiences will make China travel even smoother and more enjoyable for international visitors.

    MIL OSI China News –

  • MIL-OSI China: Electronic information manufacturing posts fast growth

    Source: China State Council Information Office 3

    People try out Huawei smartphones in Shenzhen, south China’s Guangdong Province, Sept. 10, 2024. [Photo/Xinhua]

    China’s electronic information manufacturing sector registered robust growth in 2024, with the added value of major enterprises in the sector increasing 11.8 percent from the previous year, official data showed on Thursday.

    The combined operating revenues of the sector’s major firms rose 7.3 percent year on year to 16.19 trillion yuan (about 2.26 trillion U.S. dollars) in 2024, according to data from the Ministry of Industry and Information Technology.

    During the period, the combined profits of these companies increased 3.4 percent year on year to 640.8 billion yuan, the data showed.

    Among major products, a total of 1.67 billion mobile phones were produced in 2024, a year-on-year increase of 7.8 percent. About 1.25 billion smartphones were manufactured, growing 8.2 percent from the previous year.

    Major companies in the sector are those with a main annual business revenue of at least 20 million yuan.

    MIL OSI China News –

  • MIL-OSI Global: DRC conflict: talks have failed to bring peace. Is it time to try sanctions?

    Source: The Conversation – Africa – By Patrick Hajayandi, Research Affiliate, University of Pretoria

    The crisis in the eastern Democratic Republic of Congo (DRC) escalated at the end of January 2025 when Goma, the capital of the province of North Kivu, fell to Rwanda-backed M23 rebels.

    The civilian population is paying a heavy price as a result of ongoing violence, despite a series of initiatives aimed at creating conditions for peace. Since the re-emergence of the M23 in November 2021, violent clashes with the Congolese army have led to thousands of deaths and displaced more than one million people in North Kivu province alone.

    Patrick Hajayandi, whose research focuses on peacebuilding and regional reconciliation, examines previous attempts at finding peace in eastern DRC – and what needs to happen next.

    What efforts have been made by the DRC and Rwanda to ease tensions?

    The eastern DRC has become the site of renewed tensions between Kigali and Kinshasa. Rwanda lies to the east of the DRC. The two nations share a border of about 217 kilometres.

    Kigali accuses the DRC of hosting the Democratic Forces for the Liberation of Rwanda, the largest illegal armed group operating in the conflict area. Better known by its French acronym, FDLR, the group has stated its intention to overthrow the Rwandan government.

    On the other hand, Kinshasa accuses Rwanda of supporting and arming the M23, which seeks to control the two Kivu provinces, North and South. The involvement of the Rwandan Defence Forces in direct combat alongside the M23, corroborated by UN experts, has escalated the spread of violence.

    Despite current tensions between Kinshasa and Kigali, a few years ago the two governments engaged in collaborative efforts to solve the problem posed by the numerous armed groups operating in eastern DRC.

    Such efforts included two joint operations with Congolese and Rwandan forces aimed at neutralising the FDLR. These joint operations in 2008 and 2009 were known as Operation Kimia and Umoja Wetu. In 2019 and 2020, soon after he took power, President Felix Tshisekedi allowed the Rwandan army to conduct operations against the FDLR in Congolese territory.

    However, in recent years, relations have soured badly between Kinshasa and Kigali. This has led to regional efforts to broker peace.

    Why has it been so difficult for regional actors to broker peace in the DRC?

    The first complicating factor relates to the different roles that regional actors play in the DRC.

    The involvement of a multitude of countries points to the complexity underlying the conflict and the diverse geopolitical interests. The DRC shares a border with nine countries: Angola, Burundi, the Central African Republic, the Republic of Congo, Rwanda, South Sudan, Tanzania, Uganda and Zambia.

    In 2022, the African Union asked Angolan president João Lourenço to mediate between the DRC and Rwanda. The process he oversees is known as the Luanda Process and seeks to defuse the escalation of violence across the region. In particular, it has sought to reduce tensions between Kigali and Kinshasa.

    The East African Community is directly involved in peace initiatives to restore peace in DRC. It has appointed former Kenyan president Uhuru Kenyatta to lead what is called the Nairobi Process.



    Read more:
    DRC-Rwanda crisis: what’s needed to prevent a regional war

    The DRC has rebuffed the East African Community’s reconciliation efforts. And Rwanda recently criticised both processes, suggesting the country had lost confidence in the ability of Lourenço and Kenyatta to find a solution.

    In May 2023, the Southern African Development Community, of which the DRC is a member state, deployed a peace mission. This followed the exit of troops from the East African Community.

    Other countries play different roles directly or indirectly in various missions in the DRC. Burundi is supporting military operations there under the framework of bilateral agreements in the defence sector. Uganda also deployed troops, ostensibly in pursuit of jihadist-backed armed rebels three years ago. However, this deployment has been a destabilising factor, with Kampala facing accusations of supporting the M23.

    What have been the main hurdles in the way of these initiatives?

    The East African Community Regional Force was deployed to pursue peace in eastern DRC as part of the Nairobi Process. However, this mission was cut short due to four main challenges:

    • differences over mission objectives: the DRC government believed that the East African Community Regional Force would militarily confront M23 rebels. But the force had different objectives. As indicated by its commander, the deployment was to focus on overseeing the implementation of a political agreement, not run a military confrontation.

    • contrasting views among the leaders of the East African Community member states on how to address the DRC’s crisis: the DRC and Rwanda are both members of the community. Rwanda is vocal about stopping the persecution of Congolese Tutsi in the DRC. However, there is a growing perception that Rwanda is supporting the M23 as a proxy force to allow it to control mineral resources. This has stalled reconciliation efforts.

    • a lack of financial support for the talks: the African Union and regional bodies don’t have enough funding to support the interventions required to make meaningful progress.

    The Luanda Process has not been able to bring tangible results either. The reasons for this failure include bad faith from the parties involved. This was reflected in the continued capture of territories by Rwanda-backed M23 rebels, despite a July 2024 ceasefire.

    After the January 2025 seizure of Goma and wave of deaths and displacement that followed, the M23 declared another ceasefire. Whether it will hold remains to be seen.

    Rwanda’s behaviour in the ongoing conflict is complicating peace efforts. Kigali continues to deny supporting the M23 armed group. But it is participating in negotiations that involve the M23 and the DRC government. These contradictions make it difficult to know exactly who must be held responsible when, for example, a ceasefire is violated.

    What’s required to give peace in the DRC a chance?

    The current peace initiatives have been ineffective; they are routinely violated. What is needed is real pressure on the actors involved in spreading violence, forcing them to halt their destructive activities.

    Congolese Nobel Prize winner Denis Mukwege, for example, has called for diplomatic and economic measures to end the aggression in the DRC. This would mean implementing sanctions and aid conditionalities in both Kigali and Kinshasa against the military and political leaders orchestrating violence against civilian populations.

    Interventions should also include addressing structural causes of the conflict in the DRC, including resource exploitation.

    There is also a need to address impunity as an essential step towards lasting peace. Rwanda must not continue to support an armed group that is attacking a neighbour. Kigali needs to be held accountable. International pressure is essential in halting attacks. The DRC government must also play its role as a guarantor of security for all its citizens.

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

    – ref. DRC conflict: talks have failed to bring peace. Is it time to try sanctions? – https://theconversation.com/drc-conflict-talks-have-failed-to-bring-peace-is-it-time-to-try-sanctions-248792

    MIL OSI – Global Reports –

  • MIL-OSI Africa: DRC conflict: talks have failed to bring peace. Is it time to try sanctions?

    Source: The Conversation – Africa – By Patrick Hajayandi, Research Affiliate, University of Pretoria

    The crisis in the eastern Democratic Republic of Congo (DRC) escalated at the end of January 2025 when Goma, the capital of the province of North Kivu, fell to Rwanda-backed M23 rebels.

    The civilian population is paying a heavy price as a result of ongoing violence, despite a series of initiatives aimed at creating conditions for peace. Since the re-emergence of the M23 in November 2021, violent clashes with the Congolese army have led to thousands of deaths and displaced more than one million people in North Kivu province alone.

    Patrick Hajayandi, whose research focuses on peacebuilding and regional reconciliation, examines previous attempts at finding peace in eastern DRC – and what needs to happen next.

    What efforts have been made by the DRC and Rwanda to ease tensions?

    The eastern DRC has become the site of renewed tensions between Kigali and Kinshasa. Rwanda lies to the east of the DRC. The two nations share a border of about 217 kilometres.

    Kigali accuses the DRC of hosting the Democratic Forces for the Liberation of Rwanda, the largest illegal armed group operating in the conflict area. Better known by its French acronym, FDLR, the group has stated its intention to overthrow the Rwandan government.

    On the other hand, Kinshasa accuses Rwanda of supporting and arming the M23, which seeks to control the two Kivu provinces, North and South. The involvement of the Rwandan Defence Forces in direct combat alongside the M23, corroborated by UN experts, has escalated the spread of violence.

    Despite current tensions between Kinshasa and Kigali, a few years ago the two governments engaged in collaborative efforts to solve the problem posed by the numerous armed groups operating in eastern DRC.

    Such efforts included two joint operations with Congolese and Rwandan forces aimed at neutralising the FDLR. These joint operations in 2008 and 2009 were known as Operation Kimia and Umoja Wetu. In 2019 and 2020, soon after he took power, President Felix Tshisekedi allowed the Rwandan army to conduct operations against the FDLR in Congolese territory.

    However, in recent years, relations have soured badly between Kinshasa and Kigali. This has led to regional efforts to broker peace.

    Why has it been so difficult for regional actors to broker peace in the DRC?

    The first complicating factor relates to the different roles that regional actors play in the DRC.

    The involvement of a multitude of countries points to the complexity underlying the conflict and the diverse geopolitical interests. The DRC shares a border with nine countries: Angola, Burundi, the Central African Republic, the Republic of Congo, Rwanda, South Sudan, Tanzania, Uganda and Zambia.

    In 2022, the African Union asked Angolan president João Lourenço to mediate between the DRC and Rwanda. The process he oversees is known as the Luanda Process and seeks to defuse the escalation of violence across the region. In particular, it has sought to reduce tensions between Kigali and Kinshasa.

    The East African Community is directly involved in peace initiatives to restore peace in DRC. It has appointed former Kenyan president Uhuru Kenyatta to lead what is called the Nairobi Process.

    Read more: DRC-Rwanda crisis: what’s needed to prevent a regional war

    The DRC has rebuffed the East African Community’s reconciliation efforts. And Rwanda recently criticised both processes, suggesting the country had lost confidence in the ability of Lourenço and Kenyatta to find a solution.

    In May 2023, the Southern African Development Community, of which the DRC is a member state, deployed a peace mission. This followed the exit of troops from the East African Community.

    Other countries play different roles directly or indirectly in various missions in the DRC. Burundi is supporting military operations there under the framework of bilateral agreements in the defence sector. Uganda also deployed troops, ostensibly in pursuit of jihadist-backed armed rebels three years ago. However, this deployment has been a destabilising factor, with Kampala facing accusations of supporting the M23.

    What have been the main hurdles in the way of these initiatives?

    The East African Community Regional Force was deployed to pursue peace in eastern DRC as part of the Nairobi Process. However, this mission was cut short due to four main challenges:

    • differences over mission objectives: the DRC government believed that the East African Community Regional Force would militarily confront M23 rebels. But the force had different objectives. As indicated by its commander, the deployment was to focus on overseeing the implementation of a political agreement, not run a military confrontation.

    • contrasting views among the leaders of the East African Community member states on how to address the DRC’s crisis: the DRC and Rwanda are both members of the community. Rwanda is vocal about stopping the persecution of Congolese Tutsi in the DRC. However, there is a growing perception that Rwanda is supporting the M23 as a proxy force to allow it to control mineral resources. This has stalled reconciliation efforts.

    • a lack of financial support for the talks: the African Union and regional bodies don’t have enough funding to support the interventions required to make meaningful progress.

    The Luanda Process has not been able to bring tangible results either. The reasons for this failure include bad faith from the parties involved. This was reflected in the continued capture of territories by Rwanda-backed M23 rebels, despite a July 2024 ceasefire.

    After the January 2025 seizure of Goma and wave of deaths and displacement that followed, the M23 declared another ceasefire. Whether it will hold remains to be seen.

    Rwanda’s behaviour in the ongoing conflict is complicating peace efforts. Kigali continues to deny supporting the M23 armed group. But it is participating in negotiations that involve the M23 and the DRC government. These contradictions make it difficult to know exactly who must be held responsible when, for example, a ceasefire is violated.

    What’s required to give peace in the DRC a chance?

    The current peace initiatives have been ineffective; they are routinely violated. What is needed is real pressure on the actors involved in spreading violence, forcing them to halt their destructive activities.

    Congolese Nobel Prize winner Denis Mukwege, for example, has called for diplomatic and economic measures to end the aggression in the DRC. This would mean implementing sanctions and aid conditionalities in both Kigali and Kinshasa against the military and political leaders orchestrating violence against civilian populations.

    Interventions should also include addressing structural causes of the conflict in the DRC, including resource exploitation.

    There is also a need to address impunity as an essential step towards lasting peace. Rwanda must not continue to support an armed group that is attacking a neighbour. Kigali needs to be held accountable. International pressure is essential in halting attacks. The DRC government must also play its role as a guarantor of security for all its citizens.

    – DRC conflict: talks have failed to bring peace. Is it time to try sanctions?
    – https://theconversation.com/drc-conflict-talks-have-failed-to-bring-peace-is-it-time-to-try-sanctions-248792

    MIL OSI Africa –

  • MIL-OSI Russia: Marat Khusnullin: Russia’s construction complex is developing scientific, technical and educational infrastructure of universities

    Translartion. Region: Russians Fedetion –

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

    Moscow State University of Civil Engineering

    February 6, 2025

    Moscow State University of Civil Engineering

    February 6, 2025

    Previous news Next news

    Moscow State University of Civil Engineering

    The creation of modern conditions for education and research activities in Russian higher education institutions is an important part of the work of the Russian construction complex. High-quality infrastructure attracts talented students and scientists, promotes innovation and strengthens the positions of universities. Ultimately, this is a contribution to the future of the country, because it is within the walls of universities that specialists are trained who will move science and the economy forward, noted Deputy Prime Minister Marat Khusnullin.

    On the instructions of President Vladimir Putin, a network of world-class university campuses is being created in Russia. One of these projects will be implemented at the Moscow State University of Civil Engineering.

    “NRU MGSU is a flagship university in the construction industry. It has recently been included in the list of universities that provide training for engineering personnel and scientific developments for the country’s technological leadership. It has become the basic organization of the CIS member states for training and advanced training for personnel in the construction and housing and communal services industries. Last year, the university held the most successful admissions campaign in recent years. The passing scores for state-funded programs have increased significantly in a number of specialties. MGSU entered the top 10 universities in Moscow and the Moscow region in terms of the dynamics of the quality of state-funded admission. President Vladimir Vladimirovich Putin supported the project to create a world-class campus on the basis of NRU MGSU. And today, the development of design and estimate documentation for the construction of two blocks of the educational and scientific cluster has already begun. Architectural and planning solutions have been agreed upon with the university,” said Deputy Prime Minister, Chairman of the Board of Trustees of NRU MGSU Marat Khusnullin.

    The construction of the campus facilities of the National Research Moscow State University of Civil Engineering is planned to be carried out in two stages until 2035. Within the first stage, three blocks of the educational and scientific cluster, a sports and recreation complex, an ice arena, and a student dormitory will be built. The area of the new facilities will be more than 172 thousand square meters, facilities with an area of more than 10 thousand square meters will be reconstructed, and major repairs of the existing buildings of the National Research Moscow State University of Civil Engineering are planned.

    Currently, design and estimate documentation is being developed for blocks “A” and “B” with an area of over 69 thousand square meters, which will house advanced research and educational spaces, coworking spaces, creative workshops and public catering areas.

    “When the campus is ready, it will be possible to implement a full innovation cycle on the basis of NRU MGSU, from the idea to the implementation of techniques and technologies, digital solutions, designs and materials in the construction industry and housing and communal services. I am sure that this will help popularize construction professions, achieve national goals and implement national projects,” Marat Khusnullin emphasized.

    In addition, work continues on the construction of university campuses on the premises of other universities. For example, as part of the Oryol State University named after I.S. Turgenev, the public-law company “Unified Customer in the Sphere of Construction” is constructing an educational and laboratory building and a dormitory complex.

    “The construction of the dormitory complex, consisting of three buildings, started in the summer of 2024. Currently, builders are actively performing monolithic work at the site; the construction of structures is already 60% complete. About 1,500 students will be able to live in comfortable conditions. The buildings will also have gyms, rooms for independent study and leisure,” the Deputy Prime Minister noted.

    The educational and laboratory building with an area of over 27 thousand square meters will house a prototyping and reengineering center, an auditorium, a library and other premises. The student campus will become a modern open space for education, science and business.

    Three more campuses are currently being built by Unified Customer in Yekaterinburg, Novosibirsk and Kaliningrad.

    At the same time, the Russian construction complex is developing the infrastructure of other universities that were not included in the world-class campus program. Including those facilities whose construction was delayed.

    Thus, the construction of five educational and laboratory buildings of the Crimean Federal University named after V.I. Vernadsky in Simferopol began in 2019 and 2022, but was suspended. In 2024, the construction was entrusted to the PPK “Unified Customer”. As reported by Marat Khusnullin, monolithic work has been completed in the building of the educational building of the Institute of Foreign Philology. More than one thousand students and teachers will be able to study and work in this building.

    “The eight-story building of the Institute of Foreign Philology will house classrooms and lecture halls, modern computer rooms, a reading room with an archive, a buffet with a dining room for 48 people, teachers’ offices, as well as a center for the language cultures of the small peoples of Crimea and other premises. The construction of the building is planned to be completed and equipped with modern technological equipment in 2026,” said Karen Oganesyan, General Director of the Unified Customer PPC.

    In addition, KFU continues construction of buildings for the Physics and Technology Institute, student center, administrative building, and the Architecture and Civil Engineering Academy. The total area of the buildings is over 46 thousand square meters.

    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: Danske Bank A/S initiates share buy-back programme

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no 6 2025 Danske Bank
    Bernstorffsgade 40
    DK-1577 København V
    Tel. + 45 45 14 14 00

    7 February 2025

    Page 1 of 1

    Danske Bank A/S initiates share buy-back programme

    In line with the distribution plan announced in the press release regarding the annual report for 2024 published on 7 February 2025, the Board of Directors of Danske Bank A/S (“Danske Bank”) has resolved to utilise the authorisation granted by the Annual General Meeting on 21 March 2024 to repurchase shares by initiating a share buy-back programme of up to DKK 5 billion (the “Programme”).

    The purpose of the Programme is to reduce the share capital of Danske Bank.

    The Programme will be implemented in accordance with Article 5 of Regulation (EU) No 596/2014 of the European Parliament and Council of 16 April 2014 (the “Market Abuse Regulation”) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

    The Programme will be conducted in the period from 10 February 2025 to 30 January 2026, at the latest. Danske Bank may, however, at any time suspend or terminate the Programme.

    The following additional conditions apply to the Programme:

    • Share repurchases will only take place on Nasdaq Copenhagen A/S.
    • The Programme will be managed by an independent lead manager, which, under a separate agreement with Danske Bank, will make its trading decisions regarding the timing of the share repurchases independently of, and without influence by Danske Bank, within the timeframe set out in this announcement.
    • The maximum amount allocated to the Programme is DKK 5 billion.
    • The maximum number of shares that may be acquired under the Programme is 45,000,000 shares.
    • Shares acquired under the Programme may not be purchased at a price exceeding the higher of (i) the share price of the last independent transaction on Nasdaq Copenhagen A/S, and (ii) the highest independent bid on the shares on Nasdaq Copenhagen A/S. The shares may not be acquired at a price deviating more than 10% from the price quoted on Nasdaq Copenhagen A/S at the time of acquisition.
    • Purchases on Nasdaq Copenhagen A/S made on one single purchase day may not exceed 25% of the average daily trading volume of the shares during the 20 preceding trading days before the purchase day.        

    Information about shares acquired under the Programme will be published weekly on Danske Bank’s website www.danskebank.com and via company announcements. Danske Bank will also on its website and via company announcement publish information about any subsequent changes to the Programme should such occur, including any termination of the Programme.

    Danske Bank

    Contacts:        Helga Heyn, Head of Media Relations, tel. +45 45 14 14 00
    Claus Ingar Jensen, Head of Group Investor Relations, tel. +45 25 42 43 70

    Attachment

    The MIL Network –

  • MIL-OSI: Falcon Oil & Gas Ltd. – Completion of Shenandoah SS-2H ST1 stimulation

    Source: GlobeNewswire (MIL-OSI)

    Falcon Oil & Gas Ltd.

    Completion of Shenandoah SS-2H ST1 stimulation

    07 February 2025 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce the completion the Shenandoah S2-2H ST1 (“SS-2H ST1”) stimulation in the Beetaloo Sub-basin, Northern Territory, Australia with Falcon Oil & Gas Australia Limited’s joint venture partner, Tamboran (B2) Pty Limited.

    Key Highlights

    • Successfully completed 35 stages across the 1,671-metre (5,483-feet) horizontal section of the Amungee Member B-shale with the Liberty Energy (NYSE: LBRT) modern stimulation equipment.
    • Stimulation activities achieved five stages over a 24-hour period on multiple days.
    • The average proppant intensity was 2,706 pounds per foot (lb/ft) and achieved wellhead injection rates above 100 barrels per minute.
    • The average stage spacing is 48-metres (~157-feet).
    • The SS-2H ST1 well will be completed ahead of clean out activities and the commencement of initial flow back and extended production testing.
    • Further updates on the completion of the Shenandoah South 4H (SS-4H) well will be provided in due course.

    Philip O’Quigley, CEO of Falcon commented:

    “We are extremely encouraged about the potential of the current stimulation program based on strong gas shows and other data observed whilst drilling. In addition, the experienced US operator, Liberty Energy, have shown the efficiencies they can achieve which will provide us with the greatest opportunity for the best possible outcomes from this stimulation program. We look forward to updating the market on the IP30 flow test results as soon as they become available.”
                                                    Ends.

    CONTACT DETAILS:

    Falcon Oil & Gas Ltd.          +353 1 676 8702
    Philip O’Quigley, CEO +353 87 814 7042
    Anne Flynn, CFO +353 1 676 9162
     
    Cavendish Capital Markets Limited (NOMAD & Broker)
    Neil McDonald / Adam Rae +44 131 220 9771

    This announcement has been reviewed by Dr. Gábor Bada, Falcon Oil & Gas Ltd’s Technical Advisor. Dr. Bada obtained his geology degree at the Eötvös L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG.

    About Falcon Oil & Gas Ltd.

    Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.

    Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd.

    For further information on Falcon Oil & Gas Ltd. Please visit www.falconoilandgas.com

    About Beetaloo Joint Venture (EP 76, 98 and 117)

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 22.5%
    Tamboran (B2) Pty Limited 77.5%
    Total 100.0%

    Shenandoah South Pilot Project -2 Drilling Space Units – 46,080 acres1

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 5.0%
    Tamboran (B2) Pty Limited 95.0%
    Total 100.0%

    1Subject to the completion of the SS2H ST1 and SS4H wells on the Shenandoah South pad 2.

    About Tamboran (B2) Pty Limited
    Tamboran (B1) Pty Limited (“Tamboran B1”) is the 100% holder of Tamboran (B2) Pty Limited, with Tamboran B1 being a 50:50 joint venture between Tamboran Resources Corporation and Daly Waters Energy, LP.

    Tamboran Resources Corporation, is a natural gas company listed on the NYSE (TBN) and ASX (TBN). Tamboran is focused on playing a constructive role in the global energy transition towards a lower carbon future, by developing the significant low CO2 gas resource within the Beetaloo Basin through cutting-edge drilling and completion design technology as well as management’s experience in successfully commercialising unconventional shale in North America.

    Bryan Sheffield of Daly Waters Energy, LP is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. (“PE”), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Natural Resources Company.

    Advisory regarding forward-looking statements
    Certain information in this press release may constitute forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information typically contains statements with words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “dependent”, “consider” “potential”, “scheduled”, “forecast”, “outlook”, “budget”, “hope”, “suggest”, “support” “planned”, “approximately”, “potential” or the negative of those terms or similar words suggesting future outcomes. In particular, forward-looking information in this press release includes, details on the completion of the stimulation of SS-2H ST1; Liberty Energy conducting the stimulation campaign; and commencement of initial flow back and extended production testing and updates on SS-4H.

    This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. The risks, assumptions and other factors that could influence actual results include risks associated with fluctuations in market prices for shale gas; risks related to the exploration, development and production of shale gas reserves; general economic, market and business conditions; substantial capital requirements; uncertainties inherent in estimating quantities of reserves and resources; extent of, and cost of compliance with, government laws and regulations and the effect of changes in such laws and regulations; the need to obtain regulatory approvals before development commences; environmental risks and hazards and the cost of compliance with environmental regulations; aboriginal claims; inherent risks and hazards with operations such as mechanical or pipe failure, cratering and other dangerous conditions; potential cost overruns, drilling wells is speculative, often involving significant costs that may be more than estimated and may not result in any discoveries; variations in foreign exchange rates; competition for capital, equipment, new leases, pipeline capacity and skilled personnel; the failure of the holder of licenses, leases and permits to meet requirements of such; changes in royalty regimes; failure to accurately estimate abandonment and reclamation costs; inaccurate estimates and assumptions by management and their joint venture partners; effectiveness of internal controls; the potential lack of available drilling equipment; failure to obtain or keep key personnel; title deficiencies; geo-political risks; and risk of litigation.

    Readers are cautioned that the foregoing list of important factors is not exhaustive and that these factors and risks are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at www.sedarplus.com, including under “Risk Factors” in the Annual Information Form.

    Any references in this news release to initial production rates are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter and are not necessarily indicative of long-term performance or ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for Falcon. Such rates are based on field estimates and may be based on limited data available at this time.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    The MIL Network –

  • MIL-OSI Russia: The rector of the State University of Management took part in the visiting meeting of the State Council commission on the direction of “Personnel”

    Translartion. Region: Russians Fedetion –

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

    On February 6, Vladimir Stroyev, Rector of the State University of Management, took part in an off-site meeting of the State Council of the Russian Federation Commission on Personnel, dedicated to Russian Science Day.

    The commission members gathered in the city of Obninsk to discuss the human resources potential of Russian science.

    In the first half of the day, the guests visited nuclear enterprises and got acquainted with the scientific potential of Obninsk. At the A.I. Leypunsky Physics and Power Engineering Institute, the commission was shown the new Educational Center, which is adjacent to the complex of fast physical stands. The center is equipped with a special experimental laboratory, which is built according to the strictest safety standards, and here future specialists can conduct research, including with sealed radiation sources.

    A panel discussion on the issue of “On the human resources potential of Russian science” was held in the building of the Rosatom Technical Academy in the science city.

    The meeting was chaired by the Chairman of the State Council Commission on Personnel, a graduate of the State University of Management Vladislav Shapsha. The moderator was the Deputy Head of the Region and Deputy Chairman of the Commission, a graduate of the State University of Management Tatyana Leonova.

    Greetings to Kaluga scientists were heard from the Chairman of the State Duma Committee on Science and Higher Education Sergei Kabyshev and the Governor of the Vladimir Region Alexander Avdeev.

    The event was attended by the First Deputy Chairman of the State Duma Committee on Science and Higher Education Alexander Mazhuga, State Duma Deputy Gennady Sklyar, President of the Russian Academy of Education Olga Vasilyeva, General Director of the National Medical Research Center of Radiology of the Ministry of Health of Russia Andrey Kaprin and others.

    The State University of Management was represented at the meeting by the rector of the State University of Management Vladimir Stroyev and the vice-rector Maria Karelina.

    “Today we work in the city of Obninsk and visited several enterprises of the city, where new personnel are trained and work. And the experience of the city can be taken as a model: how to work with personnel, how to train them, what to provide and interest them in order to keep them in the region. These are conditions, including infrastructure, this is salary, and this is, of course, interest in the profession and the opportunity for advancement and development in it,” Vladimir Vitalyevich noted.

    At the opening of the plenary discussion, Vladislav Shapsha spoke about the achievements of scientific and production centers that glorify both Obninsk and the entire region throughout Russia.

    “Over the years of development, the Kaluga Region has rightfully earned a reputation as one of the leading scientific and technological centers of Russia. Last year, the Government of the Russian Federation extended the status of “science city” for Obninsk until 2040, and special thanks to our government for this. Our region has extensive experience, significant potential for scientific work in various fields, in nuclear medicine, biotechnology, radioecology, and other industries,” emphasized Vladislav Shapsha.

    At the end of the meeting, Vladislav Shapsha presented awards to scientists who contributed to the acquisition and systematization of knowledge and the possibility of applying it in practice.

    After the meeting, the commission members took part in the opening of the Sintec Group laboratory at the Obninsk Institute of Atomic Energy, a branch of the National Research Nuclear University MEPhI.

    Subscribe to the TG channel “Our GUU” Date of publication: 02/07/2025

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

    MIL OSI Russia News –

  • MIL-OSI Australia: Man charged following firearms incident

    Source: Tasmania Police

    Man charged following firearms incident

    Friday, 7 February 2025 – 5:41 pm.

    A 22 year old Berriedale man has been charged with firearms offences following an incident in Rosetta last night between two people known to one another.Police allege the man went to an address in Marys Hope Road, Rosetta, where a firearm was discharged, about 9pm.Another man at the address received a non-life threatening injury to the hand and attended hospital for treatment.Police attended the scene and commenced an investigation.Later that night police, along with specialist resources, attended an address in Berriedale where a man was arrested in relation to the incident.The man was charged with wounding, destroy property, breach of bail, attempt to breach family violence order, unlawfully set fire to property and numerous firearm offences.He has been detained to appear in the Hobart Magistrates Court tomorrow.

    MIL OSI News –

  • MIL-OSI Economics: Standing Liquidity Facility for Primary Dealers

    Source: Reserve Bank of India

    RBI/2024-25/110
    REF.No.MPD.BC.398/07.01.279/2024-25

    February 07, 2025

    All Primary Dealers,

    Standing Liquidity Facility for Primary Dealers

    As announced in the bi-monthly Monetary Policy Statement, 2024-25, today, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 6.50 per cent to 6.25 per cent with immediate effect.

    2. Accordingly, the Standing Liquidity Facility provided to Primary Dealers (PDs) (collateralised liquidity support) from the Reserve Bank would be available at the revised repo rate of 6.25 per cent with immediate effect.

    Yours faithfully,

    (Praggya Das)
    Adviser-in-Charge

    MIL OSI Economics –

  • MIL-OSI China: Production begins in mega metamorphic rock oilfield

    Source: China State Council Information Office

    The first phase of Bozhong 26-6 oilfield, by far the largest metamorphic rock oilfield in the world, commenced production on Friday, according to its developer, the China National Offshore Oil Corporation (CNOOC) Tianjin branch.

    The development project of the Bozhong 26-6 oilfield is divided into two phases. Phase one encompasses a central processing platform and an unmanned wellhead platform. The goal of this phase is to bring 33 development wells into production, with an expected peak daily output exceeding 3,500 cubic meters of oil and gas equivalent.

    The reservoir of the Bozhong 26-6 oilfield is buried in metamorphic rocks beneath the seabed at a depth of over 4,500 meters, and its formation temperature can reach 178 degrees Celsius, making its exploitation extremely challenging, according to the CNOOC Tianjin Branch.

    In response, the research team has developed and improved the drilling equipment and created a technical system tailored for deep-sea drilling, noted Tang Baisong, a project manager at CNOOC Tianjin Branch.

    The Bozhong 26-6 oilfield is located in the Bohai Sea, about 170 km from north China’s Tianjin Municipality, with an average water depth of about 20 meters. Discovered in 2022, its cumulative proven oil and gas reserves has exceeded 200 million cubic meters.

    MIL OSI China News –

  • MIL-OSI China: Xi exchanges congratulations with Colombian president over 45th anniversary of ties

    Source: China State Council Information Office

    Chinese President Xi Jinping on Friday exchanged congratulations with Colombian President Gustavo Francisco Petro Urrego over the 45th anniversary of bilateral diplomatic ties.

    Since China and Colombia established diplomatic relations 45 years ago, both sides have been pushing for the steady development of bilateral ties based on the principles of equality and mutual respect, said Xi.

    Xi noted that in October 2023, Petro paid a successful state visit to China, during which the two heads of state had a fruitful meeting, and jointly announced the establishment of a strategic partnership between the two countries, guiding China-Colombia relations into a new era.

    Colombia is an important country in Latin America and will assume the rotating presidency of the Community of Latin American and Caribbean States this year, said Xi.

    Xi also said he attaches great importance to developing China-Colombia relations, and is willing to work with Petro to deepen the strategic partnership between the two countries in efforts to jointly build a China-Latin America and the Caribbean community with a shared future.

    In his message, Petro said the development of bilateral relations has witnessed fruitful results since the two sides established diplomatic ties, delivering benefits to the two peoples.

    Frequent high-level visits have strongly boosted bilateral cooperation in various fields, and fostered a deeper bond between the two peoples, he said.

    The Colombian president also noted that he paid a state visit to China after taking office, and bilateral ties have been steadily strengthened with the continuous increase of trade and investment.

    Colombia is willing to work with China to jointly advance the global agenda of mutual concern, including world peace, energy transition and tackling climate change, he added.

    MIL OSI China News –

  • MIL-OSI China: Xi says Winter Games carries Asia’s common aspirations for peace, prosperity, friendship

    Source: China State Council Information Office

    The 9th Asian Winter Games embodies Asian people’s shared aspirations for peace, prosperity and friendship, Chinese President Xi Jinping said Friday, urging common commitment to realizing these goals.

    Xi made the remarks at a welcome banquet ahead of the opening ceremony of the Games in Harbin, capital city of northeast China’s Heilongjiang Province.

    He called on Asia to hold fast to the common dream of peace and amity, jointly respond to all sorts of security challenges, and contribute to building an equal and orderly multipolar world.

    Xi also stressed the shared pursuit of prosperity and development, calling on Asian people to seek common progress and inject impetus into economic globalization.

    To realize the common wish of integration and affinity, Xi called for promoting inclusive coexistence, exchanges and mutual learning among different civilizations in Asia.

    MIL OSI China News –

  • MIL-OSI China: Xi hosts welcome banquet for VIPs attending opening ceremony of Asian Winter Games

    Source: China State Council Information Office

    Chinese President Xi Jinping and his wife, Peng Liyuan, on Friday hosted a welcome banquet in China’s northeastern city of Harbin for international dignitaries who are here to attend the opening ceremony of the 9th Asian Winter Games.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Criminal procedure bill gazetted

    Source: Hong Kong Information Services

    The Criminal Procedure (Amendment) Ordinance 2023 (Commencement) Notice was published in the Government Gazette today. 

    The new “no case to answer” appeal mechanism under the Criminal Procedure (Amendment) Ordinance 2023 will come into operation on April 14.
     
    The Criminal Procedure (Amendment) Bill 2023 was passed by the Legislative Council on July 12, 2023.
     
    The amendment ordinance provides for a “no case to answer” appeal mechanism, which allows the prosecution to appeal against rulings of no case to answer made by the Court of First Instance of the High Court in criminal trials with a jury. The new appeal mechanism has since awaited enactment of the Criminal Procedure (Appeal against Ruling of No Case to Answer) Rules before it commences.
     
    The rules, which set out the procedural matters for the new appeal mechanism to facilitate its smooth operation in practice, were made by the Criminal Procedure Rules Committee under the Criminal Procedure Ordinance on November 14, 2024. The rules were approved by LegCo on January 8, 2025.
     
    With a view to bringing the new appeal mechanism into operation as soon as practicable, the Secretary for Justice, under the amendment ordinance, has appointed April 14, 2025, as the day on which the relevant provisions come into operation. The rules will come into operation on the same day.
     
    The Department of Justice explained that the new “no case to answer” appeal mechanism addresses the lacuna in the criminal appeal system due to the prosecution’s inability to appeal against erroneous rulings of no case to answer made by judges of the Court of First Instance in jury trials and prevents possible miscarriage of justice.
     
    The commencement notice will be tabled at LegCo on February 12 for negative vetting.

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Two men charged after drugs and firearms seizure

    Source: Tasmania Police

    Two men charged after drugs and firearms seizure

    Friday, 7 February 2025 – 5:14 pm.

    Two men have been charged with drug and firearm offences following a search at their property in Southern Tasmania today.During the search at an address in Kellevie, officers from Southern Drugs & Firearms, Southern Traffic, Southeast CIB, Sorell, Nubeena and Dunalley Police seized two pistols, one being a replica and over 190 cannabis plants.The cannabis plants had a potential street value of $200,000.A 53 year old man was charged and will appear in the Hobart Magistrates Court at a later day, while a 31 year old man was charged and detained to appear in the Hobart Magistrates Court tomorrow morning. He will also be issued with a police family violence order,Detective Acting Inspector Richard Penney stated, “This is another example of police proactively seeking out those in our community who continue to flout our laws. Tasmania Police remains committed to ensuring those who deal in illicit drugs and firearms are brought to justice.”Anyone with information about illegal drug and firearm activity is urged to contact police on 131 444 or Crime Stoppers anonymously at 1800 333 000 or online at crimestopperstas.com.au.

    MIL OSI News –

  • MIL-OSI Australia: Charges – Child Abuse – Northern Region

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force has charged a man with child abuse in a remote Northern Territory community.

    It is alleged the 19-year-old man sexually assaulted a young relative on Tuesday 4 February 2025.

    Detectives from the Child Abuse Taskforce, Criminal Investigation Branch and general duties arrested the man on Wednesday 5 February 2025.

    He has now been charged with Sexual intercourse with a child under 10, and remanded to appear in Darwin Local Court on 10 February 2025.

    In respect of victims privacy, no further information will be provided.

    MIL OSI News –

  • MIL-OSI: Progress in customer activity as well as core banking activities continued, and credit quality remained strong – Record-high net profit of DKK 23.6 billion, improving return on equity to 13.4%

    Source: GlobeNewswire (MIL-OSI)

    Press release Danske Bank
    Bernstorffsgade 40
    DK-1577 København V
    Tel. + 45 45 14 14 00

    7 February 2025

    Progress in customer activity as well as core banking activities continued,
    and credit quality remained strong
    Record-high net profit of DKK 23.6 billion, improving return on equity to 13.4%
    Dividend of DKK 9.35 per share for the second half of 2024 as well as an extraordinary dividend of DKK 5.35 per share, in total DKK 14.7 per share
    The Board of Directors has decided to initiate a new share buy-back programme of DKK 5 billion

    Danske Bank has announced its financial results for 2024.
    Carsten Egeriis, Chief Executive Officer, comments on the financial results:

    “For Danske Bank, 2024 was a year in which we consistently delivered positive results from quarter to quarter, driven by increased customer activity, continually strong credit quality and a sustained, dedicated effort from the entire organisation. Consequently, we maintained our positive commercial momentum, resulting in a solid financial performance.

    One year into the execution of our Forward ’28 strategy, we have made substantial progress within our technology transformation and customer engagement, and we can see that our investments in enhancing the customer experience have resulted in increasingly positive customer satisfaction scores.

    Our continued focus on cost discipline and on maintaining strong credit quality resulted in two upward adjustments of our financial guidance in 2024. On the basis of our strong financial results and solid capital position, the total distribution in 2024 amounts to 100% of net profit, thus honouring the commitment we have made to our shareholders.

    With our advanced customer offerings, deep expertise and solid financial position, Danske Bank is strongly positioned to create value for customers, shareholders and society. In a time of heightened geopolitical uncertainty, rapid technological shifts and increasing sustainability challenges, we will continue to focus on opportunities and solutions for households and businesses alike.”

    The annual report is available at www.danskebank.com. Highlights are shown below:

    2024 vs 2023
    Total income of DKK 56.4 billion (up 8%)
    Operating expenses of DKK 25.7 billion (up 1%)
    Loan impairments of DKK -543 million (2023: DKK 262 million)
    Net profit of DKK 23.6 billion (up 11%)
    Return on shareholders’ equity of 13.4% (2023: 12.7%)
    Strong capital position, with a CET1 capital ratio of 17.8% (2023: 18.8%). The ratio reflects strong capital generation and the full deduction of the announced 40% additional capital distribution.
    Solid progress towards Forward ’28 ambitions and 2026 targets
    2024 was the first full year of our Forward ’28 strategy, and we are well-positioned for future growth as we maintain our trajectory towards strengthening our position as a leading bank in the Nordic region and make significant investments in our customer offerings.

    For personal and private banking customers, with Forward ’28, a sharpened focus in each of our markets has allowed us to further strengthen our relations with existing customers and attract new ones. For business and institutional customers, we want to be a leading bank in the markets in which we operate. Our approach focuses on meeting evolving market demands while fostering high long-term customer and employee satisfaction.

    Significant progress with our technology transformation paved the way for a better customer experience and improved efficiency. In 2024, we made substantial progress in terms of using digitalisation, data, AI and technology to improve customer engagement while reducing costs and operational risks. We developed a new version of our District online banking platform that is tailored to small businesses and is expected to launch in Denmark in the first half of 2025. We also launched a new welcoming app that makes it both easier and faster to become a personal customer with us.

    Across the bank, we have made GenAI a strategic priority, and our GenAI-powered solutions offer key opportunities to unlock productivity gains. During 2024, we launched DanskeGPT, which has been adopted by almost 16,000 users across the organisation, corresponding to 74% of all employees. We have also deployed GenAI-powered tools for our software developers, and these tools are driving solid productivity improvements.

    In 2024, Danica developed its new commercial strategy, Forward ’28 – Danica, which aims to make Danica the preferred pension company in Denmark by 2028. The strategy, which took effect on 1 January 2025, focuses on the importance of making customer interactions with Danica easy and convenient through digital solutions and on offering comprehensive healthcare offerings, attractive returns and quality advice. These elements are expected to be key growth drivers over the next few years. The strategy aligns with the strategic direction set in Danske Bank’s Forward ’28 strategy, underscoring the significant potential in synchronising services between the bank and the pension business.

    As the success of our strategy relies on solid execution, we have a significant focus on our employees, supported by investments in development activities, leadership and the workplace. Employee satisfaction and engagement scores continued to improve from already high levels and are now above the industry benchmark.

    Sustainability is a key focus area in Forward ’28, and our ambition is to be a leading Nordic bank in terms of supporting the sustainability transition of customers, businesses and the Nordic societies that we are a part of. Our efforts are reinforced by new ESG advisory services, comprehensive staff training, recruitment of specialists and strategic partnerships, all aimed at supporting our customers’ sustainability transition. In line with European regulation, for the 2024 annual report, Danske Bank has prepared a sustainability statement in accordance with the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS).

    Better-than-expected macroeconomic conditions
    Macroeconomic conditions developed more favourably than expected in the markets in which we operate. Especially in Denmark, the inflation and growth outlook improved during the year, and this development is forecast to continue as central banks continue their easing trajectories, leading to lower rates for both households and businesses. Although the growth outlook has improved broadly speaking in the Nordic region, the uncertainty related to Europe’s long-term growth prospects and ability to innovate persists.

    In times of uncertainty for both Danske Bank and our customers, our well-capitalised balance sheet has enabled us to be a strong financial partner for our customers, and we have continued to support them with risk management expertise and expert advice.

    Strong financial performance
    An improved commercial momentum in our business, supported by better-than-expected macroeconomic conditions and strong credit quality have enabled us to strengthen profitability and generate record-high net profit. The return on equity thus increased from 12.7% to 13.4%, highlighting our positive trajectory and progress towards our 2026 targets.

    In 2024, total income grew 8%, driven by a sustained uplift in core banking income. Despite central bank rate cuts and lower deposit margins as well as overall muted credit demand, net interest income showed the expected strong development, with increasing net interest income throughout the year. Net fee income continued the positive traction throughout the year, reflecting our overall strong development and ability to do more business with existing customers and to attract new customers. We saw a higher level of fee income from cash management products, and customer activity generally remained high. Furthermore, we saw an increase in investment fees generated by strategic investments in our private banking offerings as well as a strong development in fees from asset management.

    Net trading income remained stable, and net income from insurance business benefited from stable financial markets, with the health and accident business continuing to be challenged, however.

    Operating expenses developed according to plan and were at the same level as in 2023. The minor year-on-year increase was caused mainly by higher investments in our technology transformation made under our Forward ’28 strategy and staff costs that were impacted by wage inflation. Costs related to financial crime prevention and legacy remediation decreased in line with our plan for a normalisation of costs, and together with prudent cost management, this led to an improvement in the cost/income ratio to 46% from 49%.

    Loan impairment charges amounted to a net reversal of DKK 543 million, reflecting strong credit quality and modest impairments against single-name exposures coupled with a review of post-model adjustments. We continue to apply significant post-model adjustments as well as a scenario-based macroeconomic model to cater for potential tail risks that are not evident in our portfolio. Overall, the macroeconomic environment improved during 2024 and was characterised by lower inflation, lower interest rates and an enhanced growth momentum.

    Overall, we ended the year with the same positive momentum that we saw in the first nine months of 2024. This resulted in record-high net profit of DKK 23.6 billion, up 11% from 2023.

    “The first year of execution of our Forward ’28 strategy, 2024 was an important year for Danske Bank’s financial performance: With income growth driven by our growing core income as well as our continued efforts to support customers and drive the commercial momentum, net profit represents a record-high result,” says Stephan Engels, Chief Financial Officer.
    We continue to create value to the benefit of our customers, our shareholders and society: Our tax expense amounted to DKK 7.6 billion, and given our strong capital position, and in line with the Forward ’28 strategy, the financial year 2024 enables us to make a significant payout to our shareholders.

    Delivering on capital distribution
    Given our strong balance sheet, and as planned in the Forward ’28 strategy, the financial year 2024 yields a significant payout to our shareholders. We paid a dividend of DKK 7.50 per share in connection with the interim report for the first half of 2024, and we propose a dividend of DKK 9.35 per share for the second half of 2024 as well as an extraordinary dividend of DKK 5.35 per share. Furthermore, on 6 December 2024, we announced a special dividend of DKK 6.50 per share following the successful transfer of the personal customer business in Norway. In total, our distribution for 2024 amounts to DKK 28.70 per share.

    It remains crucial for us to create value for all our stakeholders, including our shareholders, customers, employees and the societies we are part of, and as a bank we need to attract capital from shareholders to lend and do business. Besides large institutional investors, our capital distribution benefits most major pension funds in Denmark as well as private individuals in Denmark, who have invested part of their savings in Danske Bank shares. In total, we have more than a quarter of a million investors, of which more than half are private individuals in Denmark.

    Danske Bank’s dividend policy for 2025 remains unchanged, targeting a dividend payout of 40-60% of net profit in the form of annual dividend payments.

    Share buy-back
    The share buy-back programme launched in February 2024 of DKK 5.5 billion was completed in January 2025.

    On the basis of the financial results for 2024, the Board of Directors has decided to initiate a new share buy-back programme of DKK 5 billion, taking the total payout ratio to 100% of net profits when including the dividend for 2024 but excluding the special dividend related to the transfer of the personal customer business in Norway. The programme, which has been approved by the Danish Financial Supervisory Authority, will start on 10 February 2025.

    Outlook for 2025
    We expect net profit for 2025 to be in the range of DKK 21-23 billion.
    The outlook is subject to uncertainty and depends on economic conditions.

    Download the Annual Report as zip here.

    Danske Bank

    Contact: Helga Heyn, Head of Media Relations, tel. +45 45 14 14 00

    More information about Danske Bank’s financial results is available at www.danskebank.com/reports.

    Attachments

    The MIL Network –

  • MIL-OSI Economics: Result of Underwriting Auction conducted on February 07, 2025

    Source: Reserve Bank of India

    In the underwriting auction conducted on February 07, 2025, for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:

    Nomenclature of the Security Notified Amount
    (₹ crore)    		 Minimum Underwriting Commitment (MUC) Amount
    (₹ crore)    		 Additional Competitive Underwriting Amount Accepted
    (₹ crore)    		 Total Amount underwritten
    (₹ crore)    		 ACU Commission Cut-off rate
    (paise per ₹100)
    6.92% GS 2039 12,000 6,006 5,994 12,000 0.22
    7.09% GS 2054 10,000 5,019 4,981 10,000 0.18
    Auction for the sale of securities will be held on February 07, 2025.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2098

    MIL OSI Economics –

  • MIL-OSI Economics: Robust corporate governance a strategic imperative for business resilience and growth, says GlobalData

    Source: GlobalData

    Robust corporate governance a strategic imperative for business resilience and growth, says GlobalData

    Posted in Strategic Intelligence

    Effective corporate governance is essential for sustainable business growth. As regulatory scrutiny intensifies, companies must strengthen governance frameworks, including risk management and anti-corruption measures, to ensure compliance and long-term resilience. Weak governance can undermine trust, while a well-structured approach enhances competitiveness, drives value creation, and positions businesses for sustained success, according to GlobalData, a leading data and analytics company.

    GlobalData’s latest Strategic Intelligence report, “ESG – Governance Factors,” reveals that poor governance practices are at the root of many corporate scandals. In 2024, the US regulators criticized Boeing’s board for failing to hold management accountable for a deterioration of controls around safety standards. The company’s challenges predate the COVID-19 pandemic and labor strikes, with the 737 MAX crashes exposing serious lapses in production quality, oversight, and regulatory compliance.

    Pinky Hiranandani, Senior Strategic Intelligence Analyst at GlobalData, comments: “Governance failures have led to the demise of several companies. In 2024, Sam Bankman-Fried, founder and CEO of cryptocurrency exchange FTX, was sentenced to 25 years in prison for defrauding investors. The collapse of FTX underscores the critical importance of robust corporate governance and highlights the need for investors to prioritize governance risks in their due diligence processes.”

    Indian edtech startup Byju’s saw its valuation collapse from $22 billion in 2022 to just $1 billion in 2024. Aggressive acquisitions, coinciding with a post-pandemic slowdown in edtech demand, exacerbated its challenges. Governance concerns, including a lack of transparency in management, further eroded investor confidence, underscoring the critical role of sound governance in sustaining business stability.

    Hiranandani concludes: “Companies with poor corporate structure and risk management, weak internal controls, and unethical practices can quickly become the target of consumer and shareholder ire, which can jeopardize their future viability. As regulatory expectations rise, businesses must view governance not as a compliance burden but as a strategic advantage that fosters innovation, enhances reputation, and drives sustainable growth.”

    MIL OSI Economics –

  • MIL-OSI Economics: APAC VC funding: Deals volume falls across most of funding sizes in 2024, reveals GlobalData

    Source: GlobalData

    APAC VC funding: Deals volume falls across most of funding sizes in 2024, reveals GlobalData

    Posted in Business Fundamentals

    A total of 3,724 venture capital (VC) funding deals with disclosed funding value were announced in the Asia-Pacific (APAC) region during 2024. This represents a year-on-year (YoY) decline of 6.9% compared to the previous year, with a fall in deals volume in most of the VC funding size ranges, according to GlobalData, a leading data and analytics company.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Be it low-value deals* or high-value deals**, the decline in deals volume was witnessed across most of the funding size ranges in the region during the year. In fact, there was a double-digit decline in high-value VC deals volume. Meanwhile, VC deals valued over $500 million saw some marginal improvement in volume.”

    An analysis of GlobalData’s Deals Database reveals that the number of high-value VC deals declined by 24.1% from 112 in 2023 to 85 deals in 2024, whereas the volume of low-value VC deals fell by 2% from 2,604 in 2023 to 2,553 in 2024. Meanwhile, mid-size VC funding deals (valued >$10 million and ≤$100 million) volume declined by 15.3% from 1,282 deals in 2023 to 1,086 deals in 2024.

    Low-value deals continued to dominate and account for the largest chunk of deals volume in 2024. These deals accounted for a 68.5% share of the total number of VC deals with disclosed funding value announced in the APAC region last year.

    High-value VC deals accounted for a 2.3% share of the total number of VC deals with disclosed funding value announced in the region, while the share of mid-size VC funding deals stood at 29.2%.

    *Investment value less than or equal to $10 million

    **Investment value more than $100 million

    MIL OSI Economics –

  • MIL-OSI USA: Cramer, Sullivan Introduce Legislation to Strengthen U.S. Missile Defense Capabilities

    US Senate News:

    Source: United States Senator Kevin Cramer (R-ND)

    PARCS Radar in Cavalier Central to the Mission

    ***Click here to download audio.***

    WASHINGTON, D.C.  – Missile defense plays a key role in deterring and defeating adversary ballistic missiles and other threats against the United States, its allies, and American military forces overseas. In January, President Donald Trump signed an Executive Order (EO) to build an Iron Dome for America, similar to Israel’s Iron Dome. The EO directs the implementation of a “next-generation missile defense shield for the United States against ballistic, hypersonic, advanced cruise missiles, and other next-generation aerial attacks.” 

    U.S. Senator Kevin Cramer (R-ND), chair of the Senate Armed Services (SASC) Airland Subcommittee and co-chair of the Defense Modernization Caucus, joined U.S. Senator Dan Sullivan (R-AK), a fellow SASC member, in introducing the Increasing Response Options and Deterrence of Missile Engagements (IRON DOME) Act today. The legislation will improve the missile defense capabilities of the United States.

    Among other provisions, the bill requires the acceleration of the modernization and digitization of the Perimeter Acquisition Radar Attack Characterization System (PARCS), located at North Dakota’s Cavalier Space Force Station. PARCS is a single-faced, multi-function, UHF-Band, phased-array radar system which tracks over half of all earth-orbiting objects. The modernization of PARCS improves detection of intercontinental and sea-launched missile threats, as well as improve space domain awareness capabilities.

    “Now more than ever, we have to ensure the United States is properly equipped to address the pressing threats that are posed by our very capable adversaries,” said Cramer. “Protecting the homeland is obviously our first Constitutional duty. The IRON DOME Act forces modernization of our missile defense systems from Alaska to North Dakota to Maine to Florida to California and back up to Alaska. This will ensure that we’re never caught off guard from a modern missile attack on our homeland.” 

    “For decades, American missile defense strategy has focused on protecting our country from ballistic missile threats posed by rogue nations or accidental launches from a peer nation,” said Sullivan. “We’ve made significant progress in recent years to strengthen this capability, notably through the implementation of my bipartisan 2017 Advancing America’s Missile Defense Act. But the proliferation of new hypersonic and cruise missile threats from our adversaries demands that we change this paradigm. Senator Cramer and I are introducing legislation to build a homeland missile defense system that can protect our country from the intensifying threats and growing arsenals of China and Russia. The IRON DOME Act dovetails with and reinforces President Trump’s historic ‘Iron Dome for America’ EO and builds upon a number of the recommendations from the 2022 Missile Defense Review. Specifically, our legislation invests billions of dollars to develop new capabilities, like space-based sensors and new intercept technologies, significantly expand and modernize existing infrastructure, like the ground-based missile interceptor fields at Alaska’s Fort Greely and North Dakota’s PARCS radar system, and integrate all aspects of U.S. missile defense, including Aegis. I urge my colleagues to join us in this initiative to meet the evolving missile threats on the horizon and deliver greater security for all Americans.”

    Click here for bill text.

    MIL OSI USA News –

  • MIL-OSI China: Announcement on Open Market Operations No.23 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.23 [2025]

    (Open Market Operations Office, February 7, 2025)

    In order to keep liquidity adequate in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB183.7 billion through quantity bidding at a fixed interest rate on February 7, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB183.7 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年02月07日

    MIL OSI China News –

  • MIL-OSI Australia: Appointment of ABC Deputy Chairperson

    Source: Australian Ministers for Regional Development

    The Albanese Government has appointed Ms Georgina Somerset AM as Deputy Chairperson of the Australian Broadcasting Corporation (ABC) Board for a period of six months.
     
    Ms Somerset has served on the Board as a non-executive Director since 2017 and brings considerable experience to the role, including across the not-for-profit and regional development sectors. 
     
    Her appointment as Deputy Chair for a six-month term will provide stability and certainty to the Board, as the ABC continues to deliver on its Charter to provide services and programs that inform and entertain Australians.
     
    Ms Somerset’s appointment fills the vacant Deputy Chair position created by the resignation of non‑executive Director and Deputy Chair Mr Peter Tonagh in December 2024.
     
    Mr Tonagh served on the ABC Board as a non-executive Director from May 2021, and was appointed Deputy Chair in November of that year.
     
    The Government thanks Mr Tonagh for his service throughout his time on the Board and wishes him well for his future endeavours.
     
    The independent Nomination panel for ABC Board appointments will conduct a merit-based selection process to fill the non-executive Director vacancy on the Board, in line with requirements under the Australian Broadcasting Corporation Act 1983.
     
    Following this process, the Government will select a non-executive Director from the ABC Board to perform the Deputy Chair role in the longer term.
     
    Quotes attributable to the Minister for Communications, the Hon Michelle Rowland MP:
     
    “The Board performs a crucial role in guiding the ABC, including maintaining its independence and integrity, and ensuring the accuracy and impartiality of news.

    “Ms Somerset has been an asset to the Board during her term and will continue to make a strong contribution in the role of Deputy Chair for the next six months.
     
    “On behalf of the Government, I wish Mr Tonagh the best for his next chapter, and thank him for his service to public broadcasting.”

    MIL OSI News –

  • MIL-OSI Australia: Minister Rishworth interview on 3AW drive with Jacqui Felgate

    Source: Ministers for Social Services

    E&OE TRANSCRIPT

    Topics: NDIS; NDIS fraud; Investment in Saver Plus.

    JACQUI FELGATE, HOST:    I do want to touch base now, though, on the NDIS, because I think it’s a really important issue and it’s one that a lot of victims in this case and a lot of people with disabilities and special needs that needed help under the last system didn’t get it. It’s now in the hands of Amanda Rishworth, who’s the new Minister for the NDIS following the retirement of Labor MP Bill Shorten. So, for the first time on 3AW, she joins me now. Minister, really appreciate your time.

    AMANDA RISHWORTH, MINISTER FOR SOCIAL SERVICES:    Great to be with you.

    AMANDA RISHWORTH:    Well, what it means in practical terms is that if someone has a permanent and significant disability, what they can do is go to see a planner at the NDIS and they will make an assessment and give you funding to buy in a whole range of individualised supports. So, that might be therapy supports like physiotherapy, it might be personal care or nursing. It might be equipment like a wheelchair. Previously to the NDIS, people just used to get allocated a wheelchair or told to go to a certain place and that’s where they could get their physiotherapy. When the NDIS came in, you got funding in which the person with the disability could go and then find a provider and spend the money they were allocated to get that service. So, it provided a lot more control for people with disability. It has changed so many people’s lives, but it’s very individualistic, so it is what you need as an individual. And so it is quite complex at times and can be difficult to navigate, but it really has changed so many people’s lives because it’s provided an individualised support for people that need it.

    JACQUI FELGATE:    So, when you say complex, we do know the system has been fraught with problems to the point of alleged fraud as well. Last year, when we spoke to a lot of, particularly parents of young children, they felt like their funding had been reduced or cut unnecessarily. Are you going through all of those cases on an individual basis and can you reassure people that those who really need it are going to get the funding?

    AMANDA RISHWORTH:    Firstly, I would say that as Minister, the NDIS review process happens independently for me. But I can say and give your listeners reassurance, there haven’t been any changes around the rules in which young children are assessed. What there has been a change to is a list of what’s in and can be funded by the NDIS and what’s out of that list. And that was about making sure that the NDIS funds were actually used appropriately. There are a lot of things that were on that list that, you know, salt therapy was one of these things. There’s no evidence for that. But when it comes to children, there have been no changes around access and what can be funded under the scheme. There’s an individualised assessment to that and that’s really important. But there haven’t been any changes to what can be funded.

    JACQUI FELGATE:    And what about the rorts and the fraud? How can you guarantee that that won’t happen in the future?

    AMANDA RISHWORTH:    Look, some of the cases, particularly service providers that have been acting appallingly, was really shocking. So, we have, as under the previous Minister, set up what was called the Fraud Fusion Task Force, which actually brought together intel from a range of agencies, the AFP, the NDIA and a whole range of structures to deal with fraud. And so that continues do its work to make sure it’s identifying dodgy actors in this and hold them to account. And we have a number of ongoing investigations and referrals for prosecution. But some of the other work that’s been really important to make sure that this money gets used wisely is making sure people understand what can be funded and what can’t be, particularly service providers. They need to understand and give the right advice. So, the other element I’m really keen on is driving up quality. So, this isn’t just bad actors in the scheme, this is actually making sure that every participant, when they spend their NDIS money, get a high quality service, that there’s appropriate safeguards and protections in place as well.

    JACQUI FELGATE:    So, how do you think it got to that point, though, where we heard the most ridiculous examples and we heard the most desperate examples of people who really needed help but couldn’t get it? And then the rorts, like how did it allow over all these years, how did that get to that point, Minister?

    AMANDA RISHWORTH:    Well, people just weren’t paying attention. I mean, ultimately you heard stories the…

    JACQUI FELGATE:    The former Minister wasn’t paying attention?

    AMANDA RISHWORTH:    The former government wasn’t paying attention. I mean, when Minister Shorten came into this portfolio, he identified very quickly that there had been no checks and balances, that there hadn’t been proper oversight over this scheme. It had been left just to meander and there hadn’t been the appropriate protections put in place. So, Minister Shorten himself identified this very quickly and has stood up a whole range of oversight mechanisms to look at this. So, it really was the previous government…

    JACQUI FELGATE:    You can’t always blame the previous government, though, you have been in power for nearly four years.

    AMANDA RISHWORTH:    Well, you know about the challenges because we’ve identified them. You know about these cases that have happened over the last two years because they haven’t got away with it. I mean, that’s ultimately why, you know about these circumstances, why we’ve seen some of the articles in the paper, is because we have now got the oversight mechanisms to identify them and take them to court. So, we do need to maintain vigilance on this. It is critically important, but it’s also important that people don’t get dodgy service and there is quality services out there as well.

    JACQUI FELGATE:    Okay, so what’s the Saver Plus program and how’s that going to make a difference?

    AMANDA RISHWORTH:    The Saver Plus program is separate from the NDIS. This is a really important program where people that may be wanting to get a bit more financial capability to have matched savings with the ANZ Bank. We have just funded this program. It’s been going for 21 years. We’ve now extended their funding for another five years. It’s funded through the Brotherhood of St Laurence and really does support people become financially resilient and support them for really good saving habits. So, it’s a really good program. And I’m really pleased that today we’ve announced extra funding for that.

    JACQUI FELGATE:    Amanda Rishworth is the Minister for Social Services and the NDIS. Really appreciate your time, Minister.

    AMANDA RISHWORTH:    Thank you.

    MIL OSI News –

  • MIL-OSI New Zealand: Tunnelling begins at site of Mt Messenger Bypass

    Source: New Zealand Transport Agency

    Tunnelling has begun this week at the Te Ara o Te Ata – Mt Messenger Bypass project in North Taranaki.

    Following an early morning blessing from mana whenua and iwi partner Ngāti Tama, the first cut was made by a 110-tonne road header machine that will excavate the project’s 235-metre tunnel.

    Road headers have boom-mounted telescopic cutting heads, making them ideal for diverse geological conditions.  A shovel plate at the front of the road header collects the excavated rock and soil, which is then conveyed via a belt to dump trucks at the back of the machine.  

    The 235-metre tunnel will be an important part of the Bypass project, contributing to a much more resilient stretch of State Highway 3.

    NZ Transport Agency Waka Kotahi Project Manager Caleb Perry says having the road header onsite is really exciting for the project.

    “We’ll start to see some progress with the road header excavating up to 3 metres every day.

    “The tunnel will be cut in two stages, with the upper portion (top heading) first, followed by the bottom section (bench). At regular intervals, excavation will be paused and ‘shotcrete’ – a sprayed-on concrete – will be applied to the crown and walls to line and support the structure.

    “The design and construction of the tunnel are similar to the Northern Gateway Tunnel in Auckland and the tunnel will be large enough to accommodate loads up to and including house removals – this isn’t something that can currently be accommodated on the steep, narrow winding stretch of SH3.”

    At this stage, the excavation is expected to be completed later this year.

    “The Mt Messenger Bypass will make this stretch of SH3 much more resilient, and safer for all motorists, providing a secure connection through North Taranaki, especially for freight.

    “The finished tunnel will incorporate cultural elements acknowledging Ngāti Tama tūpuna, the traditional guardians of the northern gateway to Taranaki.”

    Backgound

    The Mt Messenger project has named this road header ‘Hinetūparimaunga’ – the atua of mountains and cliffs.

    A design on the side of the roadheader depicts Hinetūparimaunga with outstretched limbs supporting the roof, walls and floor of the underground space. A yellow background represents the light that will flood into the tunnel upon its completion.

    Images: The roadheader and initial progress

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: 2 sports events get ‘M’ Mark

    Source: Hong Kong Information Services

    The Major Sports Events Committee announced today that it has awarded “M” Mark status to the Standard Chartered Hong Kong Marathon 2025, due to take place this Sunday, and to the Longines Hong Kong International Horse Show, scheduled to be held on February 14 and 16.

    Major Sports Events Committee Chairman Wilfred Ng said these events will stimulate the local economy and enhance Hong Kong’s international image, thereby strengthening the city’s status as an events capital.

    “The Hong Kong Marathon is the largest annual long-distance running event in Hong Kong. It has been well-received by the public over the years, attracting up to 74,000 participants this year, including internationally renowned elite runners.”

    For the Longines Hong Kong International Horse Show, a 5-star international jumping competition recognised by the Federation Equestrian Internationale, Mr Ng added: “It will be held in Hong Kong for the first time and will feature a world-class horse show, entertainment and a performance.”

    MIL OSI Asia Pacific News –