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  • MIL-OSI China: Experts weigh in on real threats to stability in South China Sea

    Source: China State Council Information Office 2

    Chinese experts at a special forum in Beijing have pointed out that the root causes of the instability in the South China Sea are the United States picking sides on the South China Sea issue, certain claimants in relevant disputes attempting to enforce their illegal interests, and the illegal award of the arbitration tribunal in 2016.
    The experts from various research centers and universities discussed the issues at an event on Tuesday organized by the South China Sea Strategic Situation Probing Initiative (SCSPI).
    Responding to claims by some Western countries that China’s construction on some islands and reefs in Nansha Qundao had changed the “status quo” in the area, Wu Shicun, chairman of the Huayang Research Center for Maritime Cooperation and Ocean Governance, explained that related moves by China are measures aimed at countering the Philippines’ arbitration claim and improving China’s unfavorable position on relevant islands and reefs under its jurisdiction.
    Such measures are both reasonable and lawful, Wu said.
    Hu Bo, director of the Center for Maritime Strategy Studies of Peking University, said that China’s claims to sovereignty and maritime rights in the South China Sea have remained consistent and continuous.
    Hu said the main sources of the current instability and turbulence in the South China Sea can be attributed to two factors. Firstly, some claimant countries, such as the Philippines, have attempted to alter the status quo and even undermine the commitment made by all parties in the “Declaration on the Conduct of Parties in the South China Sea” not to occupy new uninhabited islands or reefs. Secondly, the involvement of the United States in the South China Sea disputes and its intensified military deterrence measures.
    Hu pointed to the fact that the situation in the South China Sea was generally more stable during the period from the end of the Cold War to 2009, when the United States paid less attention to the area and the Southeast Asian region.
    Some other experts, including Lei Xiaolu, a professor at the China Institute of Boundary and Ocean Studies of Wuhan University, and Zheng Zhihua, an associate professor at the Center for Japanese Studies under the Shanghai Jiao Tong University, criticized the illegal “arbitral award” in 2016.
    They stressed that it was made by a tribunal that had no jurisdiction, and that the award, in breach of the United Nations Convention on the Law of the Sea (UNCLOS) and of China’s rights as a State Party under the UNCLOS, is null and void and has no binding force.
    The experts also warned that the United States is attempting to draw forces outside the region into the South China Sea issue by hyping up fake narratives regarding freedom of navigation and overflight in the region, making the situation more complicated.
    However, the experts also said they believe the situation in the South China Sea is far less tense than claimed by some countries and portrayed by some media organizations.
    “It is the United States that poses the greatest threat to the freedom of navigation and overflight in the South China Sea,” said Yan Yan, director of the Research Center for Oceans Law and Policy, National Institute for South China Sea Studies.
    The United States interprets international maritime law navigation rules in a manner that aligns with its own national interests and imposes them as standards to compel regional countries to accept, a typical manifestation of American maritime hegemony, Yan added. 

    MIL OSI China News –

  • MIL-OSI China: Republican Party projected to win majority in US Senate

    Source: China State Council Information Office

    The Republican Party was projected by multiple U.S. media to win back the majority in the U.S. Senate early Wednesday after flipping two seats from the Democratic Party.

    The two seats the Republicans won back from the Democrats are in the states of Ohio and West Virginia, with Bernie Moreno and Jim Justice emerging victorious, respectively.

    With 66 seats not up for election this year and ballots still being tabulated in states in which races are underway, the current composition of the 100-seat upper chamber is 51 seats for the GOP and 42 for Democrats.

    Which party controls the Senate will have a huge impact on the country’s legislative agenda in the years ahead, as well as the makeup of the next presidential administration’s cabinet.

    MIL OSI China News –

  • MIL-OSI Russia: The Department of Construction Organization held the “Master’s Readings” for the first time

    Translation. Region: Russian Federation –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Participants of the scientific and practical seminar “Master’s Readings”

    On November 2, the Department of Construction Organization of SPbGASU held a regional scientific and practical seminar “Master’s Readings”.

    “This is our first experience, and I hope it will be positive. It is already positive – we have 24 reports,” said Maxim Molodtsov, associate professor of the construction organization department, at the opening of the seminar.

    The presentations were devoted to topics relevant to the modern construction industry. Thus, students Bogdan Pismarkin, Aigul Orazdurdyeva and Daniil Koldyshev spoke about the creation of a digital platform with the working title “Jack of All Trades”. The platform is designed to search for and plan labor resources in construction. The students’ scientific supervisor is the head of the construction organization department Roman Motylev.

    According to Aigul Orazdurdyeva, one of the most critical factors in the development of construction projects is the availability of labor resources at the right time in the right volume. Construction companies face a shortage of personnel, with the risk of hiring unskilled personnel; another difficulty is the large number of contractors and subcontractors.

    The students managed to identify key problems: the lack of a universal platform for searching, selecting, checking and planning labor resources, which would combine the necessary functionality in one place; the lack of the ability to find workers with verified documents and confirmed qualifications in advance; the lack of a rating system that would inspire confidence in the customer and motivate them to perform work more efficiently.

    According to Bogdan Pismarkin, in Soviet times, the issue of shortage of blue-collar workers was resolved with the help of vocational schools (PTU), which trained specialists for various industries. In the modern world, the situation has changed, government agencies no longer regulate this issue. The demand for higher education has grown, and the popularity of Internet professions is growing. There is a shortage of skilled workers, and people have to be hired from abroad. Digital platforms can simplify hiring, provide training and advanced training, and analyze labor market data.

    The digital platform for searching and planning labor resources in construction is an innovative tool that automates the selection, verification, planning and management of personnel. The platform ensures effective interaction between customers and contractors. The product, which is being created by graduate students, will allow you to create an order in one place and respond to it, link the worker’s availability calendar with the construction schedule of the facility; automatically check documents before offering a worker to the company, and confirm qualifications using integration with government services for checking documents. A rating system and gamification elements are also provided, which will allow workers to grow professionally, and customers to receive higher quality work results.

    “The digital platform will become a reliable assistant for both customers and contractors, providing a wide range of opportunities for solving all issues in the field of organizing labor resources,” Bogdan is confident.

    Student Yulianna Bobrovskaya (supervised by Associate Professor of the Department of Construction Organization Maxim Molodtsov) suggests monitoring work at remote sites using modern equipment. The student is convinced that construction in remote areas contributes to their economic development, develops tourism, and reduces pressure on large cities. However, construction companies face a number of difficulties associated with the transportation of materials and equipment, shift work, and slow response to emerging problems. An unmanned aerial vehicle can simplify the developer’s work by filming the site in real time and transmitting information to an IT platform. A specialist will track what is happening and promptly make a decision.

    As an example, Yulianna cited the domestic unmanned aerial vehicle Optiplane S2, which has been produced for seven years and is constantly being modernized. The device is easy to operate and can withstand minimal temperatures. In addition, the manufacturer provides instructions.

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

    MIL OSI Russia News –

  • MIL-OSI New Zealand: Arrests made following search warrant, Wainoni

    Source: New Zealand Police (District News)

    Attributable to Canterbury District Commander Superintendent Tony Hill:

    Three associates of the Mongols MC have been arrested today after a search warrant was executed at a Wainoni address this morning.

    Police searched the Cuffs Road address and spoke to four occupants as part of an ongoing investigation.

    An amount of suspected stolen property was recovered from the address.

    Subsequently, three men, aged 23, 24 and 26 have been arrested and face property-related charges.

    Our investigation is ongoing.

    Police will continue to have a visible presence around the gathering of gang members currently underway in Canterbury.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI: Crédit Agricole Assurances: Steady growth across all our business lines

    Source: GlobeNewswire (MIL-OSI)

    Release                                                  Paris, November 6th 2024

    Steady growth across all our business lines

    9M 2024 KEY FIGURES:

    • Total revenue1of 32.8 billion euros, up +18.2%2
    • Net inflows of +4.2 billion euros of which +1.1 billion on the General Account
    • Contribution to Crédit Agricole S.A.’s Net Income Group Share2of 1,466 million euros, up +11.3%2

    “These new interim results confirm the momentum already seen in the 1st half of last year in all our business lines, both in France and internationally. These results are driven by the commitment of Crédit Agricole Assurances teams and our partner banks; a commitment to serving our customers that is currently particularly expressed through the handling of the damages caused by storms Kirk and Leslie. In an uncertain economic and geopolitical environment, these results illustrate the increased need for protection expressed by our customers, as reflected in the increase in life outstandings entrusted to us, and in the growth in the number of solutions to deal with life’s hazards.

    This confidence is also reflected in the latest S&P rating, which confirms our financial strength and the relevance of our model as an integrated insurer within the Crédit Agricole Group.

    During this final quarter, in line with our social project, we will be focusing on the prevention and detection of health risks, which is the theme of the new edition of our Innov&Act start-up challenge. This will enable us to identify innovative projects to improve the response to our customers’ protection needs, and society as a whole.

    Once again, I would like to thank all our team members, as well as Crédit Agricole’s Regional Banks and LCL for these great achievements”.

    Nicolas Denis, Chief Executive Officer of Crédit Agricole Assurances

    STRONG PERFORMANCE DRIVEN IN PARTICULAR BY SAVINGS AND INTERNATIONAL

    Over the first nine months of 2024, Crédit Agricole Assurances generated premium income1 of €32.8 billion, up +18.2%2 compared with end of September 2023, both in France (+12.6%) and international markets (+54.5%), driven by life insurance thanks to the reshaping of our international product offering and the success of payment bonus campaigns in France.

    In savings/retirement, gross inflows reached €23.9 billion at the end of September 2024, up +23.1% compared to the end of September 2023, fueled by the commercial campaigns launched during the first quarter of 2024, and the recovery in international markets. Combined with the acquisition of a significant group retirement contract, this led to a high level of gross inflows3 on the General Account, at €15.6 billion (+43.8%). Unit-linked gross inflows3 amounted to €8.3 billion, slightly decreasing (-3.5%), due to less favorable market conditions, notably a reduced attractiveness of unit-linked bond products. Consequently, the share of unit-linked within gross inflows fell to 34.8% (down -9.5 points year-on-year).

    Net inflows amounted to +€4.2 billion, up +€5.0 billion compared to end of September 2023. By product, net inflows amounted to +€3.1 billion on unit-linked and +€1.1 billion on General Account, back in positive territory since the last two quarters (+€6.3 billion over one year on General Account).

    Life insurance outstandings4 reached €343.2 billion at the end of September 2024, up +3.9% over nine months, driven by a positive market effect and net inflows. Unit-linked outstandings exceeded the €100 billion mark for the first time, standing at €102.8 billion (+7.7% since January 1, 2024). General Account outstandings have risen by +2.4% since January 1, 2024, to €240.5 billion. Unit-linked represented 29.9% of total life insurance outstandings at the end of September 2024 (+1.0 point over nine months).

    In property and casualty5, gross written premiums1 remained buoyant, rising by +7.8% compared to the end of September 2023, to €4.9 billion. Following the first consolidation of CATU, a Polish non-life insurance subsidiary, the portfolio grew by +5.1% to nearly 16.6 million policies, representing a net addition of more than 500,000 policies over the year; average premium rose as a result of price increases and changes in the product mix.

    Equipment rates within the Crédit Agricole Group’s banking networks kept growing year-on-year, at the Regional Banks (43.8%6, up +0.7 point), LCL (27.9%6, up +0.3 point) and CA Italia (20.0%7, up +1.7 points).

    In personal protection (death and disability/creditor/group insurance8), gross written premiums1 was up +5.7% compared to the end of September 2023, at €4.0 billion, driven by growth in all segments: creditor insurance (+3.4%) benefiting from international single-premium contracts, group insurance (+21.6%) and individual death and disability (+5.6%).

    RESULTS GROWTH IN LINE WITH BUSINESS GROWTH

    The contribution of Crédit Agricole Assurances to Crédit Agricole S.A.’s Net Income Group Share amounted to €1,466 billion, up +11.3%2 year-on-year, reflecting the strong performance across all business lines despite less favorable crop insurance claims than in the third quarter of 2023.

    The combined ratio9 stood at 95.5%, up +0.3 point over the year due to unfavorable discounting effects. The undiscounted net combined ratio slightly improved to 97.7% (-0.2 point year-on-year).

    The Contractual Service Margin10 reached €24.9 billion at the end of September 2024, up +4.5% since 31 December 2023, thanks to the contribution from new business and the stock revaluation in favourable market conditions.

    RATINGS

    Rating agency Date of last review Main operating subsidiaries Crédit Agricole Assurances Outlook Subordinated debt
    S&P Global Ratings October 3, 2024 A+ A Stable BBB+

    KEY EVENTS SINCE THE LAST PUBLICATION

    About Crédit Agricole Assurances

    Crédit Agricole Assurances, France’s largest insurer, is the company of the Crédit Agricole group, which brings together all the insurance businesses of Crédit Agricole S.A. Crédit Agricole Assurances offers a range of products and services in savings, retirement, health, personal protection and property insurance products and services. They are distributed by Crédit Agricole’s banks in France and in 9 countries worldwide, and are aimed at individual, professional, agricultural and business customers. Crédit Agricole Assurances has 5,800 employees. Its premium income (“non-GAAP”) to the end of 2023 amounted to 37.2 billion euros.
    www.ca-assurances.com

    1 Non-GAAP revenue
    2 On a like-for-like basis, excluding the 1stconsolidation of CATU (Crédit Agricole Towaraystow Ubezpieczeń, property and casualty insurance subsidiary in Poland) on 30 June 2024 with retroactive effect from 1 January 2024, changes are: +18.1% for total revenue, +54.0% for international revenue and +11.2% for the contribution to Crédit Agricole S.A.’s Net Income Group Share
    3 In local GAAP

    4 Savings, retirement, death and disability (funeral)
    5 On a like-for-like basis: +7.4% growth in non-life premium income, +3.1% increase in the portfolio; at the end of September 2024, CATU’s portfolio comprised more than 314,000 policies including net addition of +20,800 policies over the year
    6 Percentage of Regional banks and LCL customers with at least one motor, home, health, legal, mobile/portable or personal accident insurance policy marketed by Pacifica, French Crédit Agricole Assurances’ non-life insurance subsidiary
    7 Percentage of CA Italia network customers with at least one policy marketed by CA Assicurazioni, Italian Crédit Agricole Assurances’ non-life insurance subsidiary
    8 Excluding savings/retirement
    9 P&C combined ratio in France (Pacifica) including discounting and excluding undiscounting, net of reinsurance: (claims + operating expenses + commissions) to gross earned premiums
    10 CSM or Contractual Service Margin: corresponds to the profits expected by the insurer from the insurance business over the term of the contracts, for profitable contracts, for Savings, Retirement, Death & Disability and Creditor products.

    Attachment

    The MIL Network –

  • MIL-OSI Russia: Sobyanin made a decision on prize payments to Moscow Paralympic athletes

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Moscow athletes – winners and medalists of the XVII Summer Paralympic Games 2024 in Paris (France), as well as their coaches will receive incentive payments from the city. This was reported in on your telegram channel Sergei Sobyanin reported.

    “The winners and medalists of the XVII Summer Paralympic Games in Paris will receive prizes from the city. 15 Moscow athletes participated in the Games in neutral status. Five of them won medals,” the Mayor of Moscow wrote.

    Source: Sergei Sobyanin’s Telegram channel @mos_sobyanin 

    The XVII Summer Paralympic Games were held in Paris from August 28 to September 8, 2024. They were attended by 15 Moscow athletes, they competed in a neutral status. They won five medals in disciplines for athletes with musculoskeletal disorders: two gold, one silver and two bronze.

    The champions of the games were Maria Pavlova (swimming) and Khetag Khinchagov (athletics). The silver medal was won by Zoya Shchurova (swimming). The bronze medalists were Irina Vertinskaya (athletics) and Georgy Margiev (athletics).

    Swimmer Maria Pavlova, who won the Paralympic gold medal in the 100m breaststroke for athletes with musculoskeletal disabilities, set a world record in this discipline – one minute 26.09 seconds. The previous world record belonged to her: on June 8, 2024, she showed a result of one minute 26.86 seconds.

    The champions of the games will receive an incentive cash payment of four million rubles, the silver medalist – 2.5 million rubles, and the bronze medalists – 1.7 million rubles.

    Prize money will also be paid to the four coaches who took part in training the athletes. They will receive half of the amount awarded to the athletes.

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

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

    https://vvv.mos.ru/major/themes/11995050/

    MIL OSI Russia News –

  • MIL-OSI Russia: HSE and Yandex Present Report on Integration of Artificial Intelligence into Higher Education

    Translation. Region: Russian Federation –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    The Higher School of Economics and Yandex Education have prepared a joint report, Artificial Intelligence in Education. It analyzes leading global practices that reveal the potential of artificial intelligence (AI) technologies in the educational sphere. The report is a map with cases of universities in different countries that are already using AI today. The goal of the project is to help Russian universities implement AI, based on the experience of other universities.

    The study includes an extensive block of real cases and examples, including on the topic of the practical use of AI in the world’s leading universities: from helping students explain concepts and translate texts to structuring materials and preparing educational documents.

    The authors analyzed a number of sociological studies around the world. The results of the analysis show that AI is already actively used in both educational (today 49% of students use generative technologies) and management and research activities. At the same time, 47% of students note the positive impact of text generative technologies on learning. As for the main ways of using new technologies, the most popular were clarifying concepts and working with questions for understanding specific disciplinary concepts (56% of those who use GPT), in second place were research tasks and working with literature (45%), in third place was translation of texts (42%), in fourth place was creation and analysis of texts (39%).

    To make the material as interactive as possible, experts from the National Research University Higher School of Economics and Yandex Education have created a special online resource, which contains examples and cases. The platform is a live space that not only demonstrates examples of AI use, but also forms a picture of possible scenarios for its application in the educational environment. Universities that have AI application practices can send their cases to the authors through a special form on the site, and they will be added to the case library.

    The report identifies key areas for integrating AI into the work of students, teachers, researchers, and managers. These areas may become the closest areas for AI development at universities. In this context, the Higher School of Economics has already adopted its own course on using AI in the learning process. The university has formulated an ethical and educational policy, including recommendations on when and to what extent AI should be used in independent work, as well as in which cases it is necessary to inform the teacher about the generated text. The HSE case demonstrates how the correct integration of technologies will allow students to develop the necessary skills for a full and fruitful educational process.

    “At Yandex Education, we have seen how AI technologies have really begun to penetrate and take root in schools, universities, and EdTech platforms over the past year. It is important for the university community and bigtech to see where new growth points are emerging and how the potential of AI can be applied in education. That is why, together with the HSE, we conducted a study of Russian and foreign practices. They turned out to be very different and affect the management system, the life of a student, teachers, and even the didactics of higher education. At the same time, our goal was to create not a frozen picture, but a constantly updated digest of the best global practices. It is in them that university managers, teachers, and researchers will be able to find inspiration for new projects and changing their reality,” comments Kirill Barannikov, Head of Strategic Development of Higher Education at Yandex Education.

    “At the Higher School of Economics, we focus on the opportunities that AI provides for improving the educational and scientific processes at the university. HSE is launching various initiatives aimed at supporting the correct use of AI by both teachers and students. At the same time, we advocate for compliance with ethical principles when using AI and were the first Russian university to adopt an ethical code for the use of artificial intelligence in the educational process,” said Evgeny Terentyev, Director Institute of Education HSE University, Head of International Laboratory for Evaluation of Practices and Innovations in Education.

    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: Sampo Group’s results for January–September 2024

    Source: GlobeNewswire (MIL-OSI)

    Sampo plc, Interim statement, 6 November 2024 at 9:45 am EET


    Sampo Group’s results for January–September 2024

    • Top line growth amounted to 10 per cent in January-September 2024 on a currency adjusted basis, supported by solid development in all business areas, but particularly in the UK.

    • The underwriting result increased to EUR 955 million (882) and the combined ratio amounted to 84.6 per cent (84.2), driven by strong growth and positive underlying margin development.

    • The Group underlying combined ratio improved by 1.6 percentage points on the back of positive trends in the Nordics and in the UK.

    • Profit before taxes increased to EUR 1,340 million (1,113), supported by higher underwriting profit and strong investment results, while operating EPS was up 2 per cent to EUR 1.68 (1.65).

    • Solvency II coverage stood at 177 per cent, net of dividend accrual, and financial leverage amounted to 26.8 per cent.

    • The public exchange offer for Topdanmark was successfully completed in September 2024.


    Key figures

    EURm 1–9/
    2024    		 1–9/
    2023    		 Change,
    %    		 7–9/
    2024    		 7–9/
    2023    		 Change, %
    Profit before taxes 1,340 1,113 20 432 391 11
      If 1,068 989 8 333 332 —
      Topdanmark 159 143 11 47 38 22
      Hastings 140 70 99 69 43 59
      Holding -28 -81 — -19 -21 —
    Net profit for the equity holders 973 941 3 320 366 -12
    Operating result 846 837 1 297 291 2
    Underwriting result 955 882 8 374 284 32
          Change,
    %    		     Change, %
    Earnings per share (EUR) 1.94 1.86 4 0.64 0.73 -12
    Operational result per share (EUR) 1.68 1.65  2 0.59 0.58 2

    Net profit for the equity holders and earnings per share for January–September 2023 include result from life operations.

    The figures in this report have not been audited.

    Sampo Group key financial targets for 2024–2026

    Target 1–9/2024
    Operating EPS growth: over 7% (period average) 2%
    Group combined ratio: below 85% 84.6%
    Solvency ratio: 150-190% 177% (including dividend accrual)
    Financial leverage: below 30% 26.8%

    Financial targets for 2024–2026 announced at the Capital Markets Day on 6 March 2024.

    GROUP CEO’S COMMENT

    The third quarter of 2024 marked another solid performance for Sampo. We continued to see robust top line growth with our nine-month underwriting result growing by 8 per cent, despite the severe winter in the first quarter, and profit before taxes increasing by 20 per cent. We also finalised the strategic transformation that began when I assumed the role of Group CEO in 2020 by completing the acquisition of Topdanmark.

    As part of our P&C insurance focused strategy, we successfully completed the exchange offer for Topdanmark during the quarter. This milestone allows us to move forward with the integration, a process that is well underway and poised to bring notable synergies.  In particular, we anticipate benefits in key areas such as IT portfolio optimisation, increased operational digitalisation, and unified procurement. These synergies will not only enhance efficiency but also improve our ability to serve our customers. Through the deal, we have gained skilled Topdanmark personnel and have already established an integrated Nordic management team. I am confident that we will achieve our integration objectives and further solidify our leadership positions in the Nordic and Danish markets.

    Looking back, another important step in our strategic transformation was the acquisition of Hastings in 2020. The transaction is proving successful, both in terms of financial performance and strategic alignment. During the third quarter of 2024, gross written premiums in the UK grew by 28 per cent on a constant currency basis, fuelled by pricing actions taken in the latter half of 2023 and an 11 per cent increase in customer policies year-on-year, bringing the total to 3.8 million. During the third quarter alone, we added 159,000 motor policies. The strong performance illustrates the significant growth potential in the UK. However, as is always the case at Sampo, we only grow when we see the opportunity to earn attractive returns, and our nine-month operating ratio of 88.5 per cent shows that we are delivering on this commitment.

    Operational momentum is strong also in the Nordics. Retention in Private remains high at 89 per cent as we continue to price for claims inflation, while the growth rates in online sales, property and personal insurance are all above target level, at 10 per cent, 6 per cent and 11 per cent year-to-date, respectively. We are also on track to achieve our cost ratio ambition for the year, despite continued investments in our capabilities.

    Nordic market dynamics remain stable, with some peers indicating large price increases, and claims inflation has trended down to 4 per cent. However, underwriting is more than just raising prices – we continuously leverage our expertise to actively manage our business. On electric vehicles, for example, we have been able to achieve the same profitability as on vehicles with Internal Combustion Engines (ICEs) by ensuring that we price accurately, even if this has meant sacrificing market share in some areas. Meanwhile, in the Nordic Industrial market, we are a leading provider with a strong track record of profitability and a business that consumes very limited incremental capital. Over recent years, we have implemented rate increases that have driven material profitability improvements. We are now taking the opportunity to significantly cut our shares on large property risks to ensure that we continue to deliver stable underwriting results. The reductions will be targeted, and we will continue to act as a lead underwriter. Underwriting actions are part of our everyday business and a key driver of our strong financial track record.

    In summary, the third quarter of 2024 was a financially stable quarter, with continued positive momentum in the Nordics and accelerated growth in the UK.  However, more importantly it was strategically critical as we completed Sampo’s transformation initiated in 2020. Looking ahead, we are well-positioned to leverage our operational capabilities and apply learnings from our impressive track record in the Nordic insurance business to our growing UK business. With this structure in place, I am confident in our ability to drive sustained value creation for our shareholders.

    Torbjörn Magnusson
    Group CEO

    OUTLOOK FOR 2024

    Following the nine-month result, Sampo has maintained its 2024 outlook for a Group combined ratio of 83–85 per cent. The outlook excludes potential one-off integration costs related to the realisation of synergies with Topdanmark.

    Sampo Group’s combined ratio is subject to volatility driven by, among other factors, seasonal weather patterns, large claims, and prior year development. The net financial result will be significantly influenced by capital markets’ developments.


    PUBLIC EXCHANGE OFFER FOR TOPDANMARK

    On 17 June 2024, Sampo announced that it would make a recommended best and final public exchange offer to acquire all of the outstanding shares in Topdanmark not already owned by Sampo. Under the terms of the offer, Topdanmark shareholders would receive 1.25 newly issued Sampo A shares in exchange for each share held in Topdanmark. On 8 July 2024, Sampo announced that all necessary regulatory approvals had been obtained for the exchange offer.

    The offer period began on 9 August 2024 and expired on 9 September 2024. Based on the final result announced on 16 September 2024, Sampo received acceptances representing approximately 92.6 per cent of the entire share capital and total number of voting rights in Topdanmark, excluding Topdanmark’s treasury shares. Based on the final result, the Board resolved to issue 48.2 million new Sampo A shares to Topdanmark shareholders. The new Sampo shares were listed on Nasdaq Copenhagen on 18 September 2024.

    On 20 September 2024, Sampo commenced a compulsory acquisition of the Topdanmark shares held by the remaining minority shareholders of Topdanmark. The total acquisition cost of the minority shares amounted to EUR 325 million. The compulsory acquisition was completed and Topdanmark shares were removed from trading on Nasdaq Copenhagen after the end of the reporting period in October 2024. Sampo will begin reporting on the delivery of synergies from the first quarter of 2025.

    SAMPO PLC
    Board of Directors


    The Interim Statement for January-September 2024, Investor Presentation and a video review with Group CEO Torbjörn Magnusson are available at     www.sampo.com/result.

    A conference call for investors and analysts will be arranged at 2:30 pm Finnish time (12:30 pm UK time).

    To ask questions, please join the teleconference by registering using the following link: https://palvelu.flik.fi/teleconference/?id=50048816.

    After the registration you will be provided with phone numbers and a conference ID to access the conference. To ask a question, please press #5 on your telephone keypad to enter the queue.

    The conference call can also be followed live at www.sampo.com/result. A recorded version and a transcript will later be available at the same address.

    Sampo will publish the Financial Statement Release for 2024 on 6 February 2025.


    For further information, please contact:

    Knut Arne Alsaker, Group CFO, tel. +358 10 516 0010
    Sami Taipalus, Head of Investor Relations, tel. +358 10 516 0030
    Maria Silander, Communications Manager, Media Relations, tel. +358 10 516 0031

    Distribution:
    Nasdaq Helsinki
    Nasdaq Stockholm
    Nasdaq Copenhagen
    London Stock Exchange
    FIN-FSA
    DEN-FSA
    The principal media
    www.sampo.com

    Attachment

    The MIL Network –

  • MIL-OSI China: Climate change poses substantial health risks, report finds

    Source: China State Council Information Office 2

    Cai Wenjia, a professor at Tsinghua University’s Department of Earth System Science and director of the Lancet Countdown Asia Center, speaks during the launch of the 2024 China Lancet Countdown report at Tsinghua University in Beijing, Nov. 5, 2024. [Photo courtesy of Lancet Countdown Asia Center]
    The worsening climate is increasingly endangering public health and threatening economic and social systems that underpin people’s well-being, according to a report released Tuesday.
    The 2024 China report of the Lancet Countdown on health and climate change, published by the Lancet Countdown Asia Center in Beijing, marks the fifth such assessment. The study monitors climate change health risks in China through 2023, along with the country’s adaptation and mitigation efforts.
    The report found that the health impacts of rising temperatures have been substantial. China faced extreme hot and dry weather conditions in 2023, with record-high temperatures and the second-lowest precipitation since 2012. These conditions led to a 309% surge in heatwave-related deaths, a 24% rise in lost work hours and diminished opportunities for outdoor activities.
    “The health risks of climate change are not in the far future. They’re imminent threats in front of us,” said Cai Wenjia, professor at Tsinghua University’s Department of Earth System Science and director of Lancet Countdown Asia Center.
    “Although already dangerous, recent health risks might be just a glimpse of even worse ones to come,” Cai said.
    The report projects that by the 2060s, annual average heatwave-related mortality, heat-related labor productivity losses and wildfire-related deaths will increase 183%-275% and 28%-37%, respectively, compared with 1986-2005 averages. Additionally, the annual excess risk of dengue fever incidence is expected to rise by 15.3%-15.5% from 2013-2019 levels.
    “It is another wake-up call that the climate crisis is the health crisis,” said Martin Taylor, WHO representative to China. He noted that dealing with climate-related health risks may become the new normal.
    Given unprecedented climate challenges, the report pointed out that China had taken considerable steps by 2023 to integrate health concerns into climate change discourse, particularly emphasizing the need for renewable energy in promoting a fair transition. “This shift promises not only environmental and economic benefits, but also public health benefits,” the report stated.
    The report outlined China’s specific initiatives in addressing climate change. The country established the “1+N policy framework” to realize its goals of peaking carbon emissions before 2030 and reaching carbon neutrality before 2060. Moreover, it has released the National Climate Change Adaptation Strategy 2035 and the National Climate Change Health Adaptation Action Plan (2024-2030) to combat climate-related health risks and enhance public health protection.
    Regarding carbon emission reduction, China represented more than half of the global increase in renewable energy capacity in 2023. This increase pushed the country’s total renewable capacity to surpass coal power installations for the first time.
    “This effort has significantly accelerated global initiatives made at the Conference of the Parties 28 (COP 28), which is to triple renewable energy capacity by 2030 and reduce fossil fuel dependence,” Cai said. 

    MIL OSI China News –

  • MIL-OSI China: Eco-city challenge to inspire innovation

    Source: People’s Republic of China – State Council News

    Twelve teams from China and Singapore recently participated in an eco-city competition to explore innovation and implement green technologies in Tianjin municipality.

    The teams were chosen from a pool of 147 for the 2024 “Eco-Innovation, Green Action” International Young Talents Innovation Competition & Eco-City Innovation Star Competition Finals held at the China-Singapore Tianjin Eco-City on Oct 22.

    Their aim was to adapt their green technologies to the eco-city, a pioneering green area being developed by China and Singapore.

    The winning projects are poised to build upon previous successes in this area, part of Tianjin’s Binhai New Area.

    One of China’s premier hubs for green development, the eco-city spans 30 square kilometers with a population of 160,000, and has been thriving on saline-alkali soil since its inception in 2008.

    This year, the projects are expected to garner heightened attention from the local government, as a blueprint to transform the eco-city into a national model zone for green development received approval from the State Council in August.

    The plan outlines standards and steps to elevate the eco-city to an internationally pioneering level in green development.

    China and Singapore are joining forces to enhance green technologies, equipment, services, infrastructure and green financing initiatives.

    “The new plan is set to propel the eco-city toward becoming a global exemplar in green and low-carbon development,” said Teo Eng Cheong, CEO of Sino-Singapore Tianjin Eco-City Investment and Development Co.

    Since 2008, the builders of the eco-city have been exploring new technologies and approaches for environmental restoration, using scientific innovation to transform the area into a verdant oasis.

    Fu Peng, deputy director of the Construction Bureau of China-Singapore Tianjin Eco-City, said that to address the severe saline-alkali land, they employed techniques such as subsurface drainage for salt removal, leaching layers for salt isolation and using imported topsoil for planting.

    “We prioritized the use of locally improved mildly saline-alkali soil to minimize ecological disruption in other areas,” Fu said.

    “For moderate to mild saline-alkali land, we implemented measures including desalination, salt isolation, salt blocking, fertilization, and planting salt-tolerant vegetation to establish native plant communities. Also, we utilized key technologies for rainwater collection and salt leaching to improve the saline-alkali land,” he added.

    To transform bodies of water, local authorities utilized the natural advantages of Tianjin being a coastal city to expand the water bodies within the area, enhancing circulation and improving aquatic ecosystems.

    Designated as one of the “most beautiful rivers and lakes” in Tianjin, Jinghu Lake is the largest scenic lake within the eco-city, merging with the nearby Jiyun River before the river flows into the sea.

    The lake was once a 2.56-sq-km sewage reservoir that had accumulated wastewater for 40 years.

    Zhang Xinyu, an inspector from the local eco-environment bureau, said, “We treat the soil under the water and will never cease in our efforts in eco-rehabilitation.”

    Furthermore, to maintain a healthy and stable ecosystem, the eco-city has established a target to grow at least 70 percent of indigenous plant species in the area.

    The main tree species in the eco-city include winter gold trees (Sophora japonica), ash and black locust trees, which not only adapt well to the local climate but also reflect the regional style.

    Species such as Platanus orientalis, ginkgo trees and begonias have been introduced to the area.

    The city has incorporated ornamental plants to create a diverse and vibrant ecological landscape with distinct layers and notable seasonal changes.

    In spring, the bright and beautiful weigela flowers bloom; summer sees the energetic sage in full swing; autumn showcases the exuberant display of seepweed; and in winter, the resilient lonicera maackii thrives.

    Currently, greenery in the eco-city has exceeded 50 percent of its area, with 137 plant species.

    The excellent ecological environment has attracted numerous wild animals to breed and thrive here, according to the administrative committee.

    Surveys indicate that there are 332 animal species in the area, with endangered relict gulls — accounting for about 80 percent of its global population — choosing this area as their wintering and breeding grounds, the administrative committee said.

    In addition to natural rehabilitation, the area has seen the country’s first zero-carbon building. It has widespread applications in solar energy, geothermal energy and wind power, according to the committee.

    MIL OSI China News –

  • MIL-OSI China: Dalian eases housing policy for graduates

    Source: People’s Republic of China – State Council News

    Dalian, Liaoning province, has rolled out enhanced policies on offering subsidies and incentives for purchasing houses to attract and retain talent, particularly focusing on high-level talents, university graduates and various skilled professionals.

    Graduates are eligible for housing vouchers with values of 100,000 yuan ($14,077) for doctoral degree holders, 50,000 yuan for master’s degree holders and 30,000 yuan for bachelor’s degree holders. Similarly, graduates from colleges, technical schools and vocational schools are also eligible for 30,000 yuan vouchers, which are all valid for one year in four districts in Dalian.

    According to Dalian’s bureau of housing and urban-rural development, there are no restrictions related to the graduation time, household registration or social security payments when graduates apply for these housing vouchers, which are amid the 14 measures issued on Oct 30 to further stabilize and boost the property market.

    “This year, we focus on key groups in housing consumption, tailor-made support measures, aiming to empower talents to stay and contribute to the city’s long-term development,” said Zhu Qi, deputy director of the city’s housing provident fund management center.

    Under the new regulations, the highly talented youth in Dalian can now receive the settlement allowance in a lump sum after obtaining the property rights certificate for a newly-purchased commercial property.

    The city has now raised the maximum housing provident fund loan limits across the board, which for individuals has been raised to 600,000 yuan and for couples to 1 million yuan.

    “Recognized high-level talents can now potentially receive housing provident fund loans up to 2 to 5 times the current maximum loan amount, with families of top-tier talents eligible for a maximum loan of 5 million yuan,” said Zhu.

    He said that in the first nine months of the year, 2,445 housing provident fund loans amounting to 1.68 billion yuan have been disbursed to various talent groups in the city.

    Data from the Ministry of Housing and Urban-Rural Development show that in October, Dalian was among the cities that have seen strong growth in new home sales, up over 30 percent year-on-year.

    The implementation of these new measures has sparked significant attention and discussions. Some expected the increased incentive to boost the property market, while some netizens humorously compared the situation to “buying a Ferrari and receiving a 5 yuan voucher”.

    A local real estate salesperson nicknamed Laowei noted the substantial impact of the policies, expecting that could potentially trigger a surge in demand for new properties in the city’s urban areas.

    “If you’re interested in it, hurry up. After all, there are not so many new homes available,” he said on his social media account with 14,000 followers.

    However, a housing consultant nicknamed Dayang cautioned potential buyers to remain rational.

    Focusing on talent attraction, various regions in China are optimizing policy measures and introducing similar housing incentives.

    In Yancheng, Jiangsu province, top talents, who purchase homes in September and October, are eligible for subsidies amounting to 80 percent of the property’s total price, capped at 3 million yuan, while full-time leading talents can receive up to 500,000 yuan in subsidies.

    Skilled technical personnel and university graduates are entitled to different fixed subsidies, ranging from 200,000 yuan for doctoral candidates to 50,000 yuan for college graduates.

    In Qingdao, Shandong province, a new policy effective from Oct 11 offers additional incentives for doctoral and master’s degree holders to purchase new residential properties as their sole residence.

    Apart from one-time settlement allowances of 150,000 yuan and 100,000 yuan, they are also eligible for housing vouchers valued at 100,000 yuan and 50,000 yuan respectively, valid for one year.

    These measures have echoed with the top leadership’s determination on easing the property purchase restriction. A meeting of the Political Bureau of the Communist Party of China Central Committee, held on Sept 26, noted that housing purchase restrictions should be adjusted to assuage public concerns.

    MIL OSI China News –

  • MIL-OSI China: Autumn scenery in north China

    Source: People’s Republic of China – State Council News

    Autumn scenery in north China

    Updated: November 6, 2024 15:48 Xinhua
    Tourists visit Honghuayu scenic spot in Bieshan Township, Jizhou District, north China’s Tianjin, Nov. 5, 2024. [Photo/Xinhua]
    An aerial drone photo taken on Nov. 5, 2024 shows the autumn scenery at Panshan scenic spot in Jizhou District, north China’s Tianjin. [Photo/Xinhua]
    An aerial drone photo taken on Nov. 5, 2024 shows the autumn scenery at Honghuayu scenic spot in Bieshan Township, Jizhou District, north China’s Tianjin. [Photo/Xinhua]
    An aerial drone photo taken on Nov. 5, 2024 shows the autumn scenery at Honghuayu scenic spot in Bieshan Township, Jizhou District, north China’s Tianjin. [Photo/Xinhua]
    An aerial drone photo taken on Nov. 5, 2024 shows the autumn scenery at Panshan scenic spot in Jizhou District, north China’s Tianjin. [Photo/Xinhua]
    An aerial drone photo taken on Nov. 5, 2024 shows tourists visiting Honghuayu scenic spot in Bieshan Township, Jizhou District, north China’s Tianjin. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: Hong Kong Intl Airport to open third runway on Nov 28

    Source: People’s Republic of China – State Council News

    HONG KONG — The three-runway system at the Hong Kong International Airport will go into service on Nov. 28, boosting the city’s aviation industry, a local official said Tuesday.

    The new system will enable the airport to handle 120 million passenger trips and 10 million tons of cargo annually, said Michael Wong, deputy financial secretary of the Hong Kong Special Administrative Region government, at the opening ceremony of the Super Terminal Expo.

    The airport handled 45 million passenger trips and 4.5 million tons of cargo during the previous financial year.

    Wong expects the new system to generate considerable returns and make Hong Kong a stronger aviation hub.

    Construction of the system began in August 2016. It is complete with a 3,800-meter runway, a new concourse, an automated people mover system, and a baggage handling system.

    The three-day Super Terminal Expo started on Tuesday will showcase the latest developments in the aviation and transportation industries worldwide. It brings together around 2,000 participants and 100 exhibitors, as well as over 60 buyers including Singapore’s Changi Airport, Tokyo’s Haneda Airport, and the Incheon International Airport in Seoul.

    MIL OSI China News –

  • MIL-OSI China: Chinese heritage souvenirs taking social media by storm

    Source: China State Council Information Office 3

    Inspired by the Ming Dynasty’s phoenix crown, the National Museum’s latest fridge magnets are taking social media by storm. In just three and a half months, 145,000 of these elegant pieces have flown off the shelves, making them the museum’s top seller of the past 20 years!

    Beyond the popular phoenix crown-inspired fridge magnet, there are many other unique souvenirs rich in traditional Chinese culture. Each piece tells its own story and artfully blends heritage with modern design. These culturally infused creations are bringing Chinese stories into people’s lives in a fresh and engaging way, celebrating the unique beauty and confidence of traditional culture.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: LCQ6: Pursuing positive interaction of airports in Guangdong-Hong Kong-Macao Greater Bay Area

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Gary Zhang and a reply by the Secretary for Transport and Logistics, Mr Lam Sai-hung, in the Legislative Council today (November 6):

    Question:

         The Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) puts forward consolidating and enhancing Hong Kong’s status as an international aviation hub, pursuing the development and positive interaction of airports in GBA, and developing a world-class airport cluster in GBA. In this connection, will the Government inform this Council:

    (1) whether it will study constructing certain sections of the Hong Kong Island West-Hung Shui Kiu Rail Link in parallel with the construction of the Hong Kong-Shenzhen Western Rail Link, so as to facilitate direct passenger access to the MTR Sunny Bay Station when the Hong Kong-Shenzhen Western Rail Link is commissioned and to connect with Qianhai and Shenzhen Bay as well as the airports of Hong Kong and Shenzhen, thereby creating a Hong Kong-Shenzhen super aviation hub; if so, of the details; if not, the reasons for that;

    (2) as the Government has indicated earlier in its reply to a question raised by a Member of this Council that the implementation of the immigration arrangement of the co-location arrangement at Hong Kong International Airport, which involves legal and implementation issues, has to be carefully considered, whether the co-location arrangement will, according to the findings of the Government’s latest study, affect the transfer time of transit passengers and the mode of passenger transport for transit passengers to the Mainland; and

    (3) whether it will consider expanding the mode of HKIA Dongguan Logistics Park to other GBA cities, so as to meet the demand of the manufacturing industries in GBA for international air transport; if so, of the details; if not, the reasons for that?

    Reply:

    President,

         Hong Kong is an international aviation hub. This positioning is recognised in the National 14th Five-Year Plan and the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). To implement this national strategy and to enhance the long-term competitiveness of Hong Kong International Airport (HKIA) and Hong Kong’s aviation industry, the Government of the Hong Kong Special Administrative Region (HKSAR) and the Airport Authority Hong Kong (AAHK) have launched a series of measures, including enhancing the connection between HKIA and the Mainland, to proactively contribute to the development of a world-class airport cluster in the GBA.

         On the other hand, the HKSAR Government promulgated the Hong Kong Major Transport Infrastructure Development Blueprint at the end of last year. The Blueprint consolidates all major transport infrastructure currently under planning, design and construction in a forward-looking manner, and holistically outlines and plans for the development of strategic transport infrastructure, including the recommendation to take forward the Hong Kong-Shenzhen Western Rail Link (Hung Shui Kiu-Qianhai) (HSWRL) and Hong Kong Island West-Hung Shui Kiu Rail Link, with a view to meeting the transport and logistics demand up to 2046 and beyond.

         My reply to the three parts of the question is as follows:

    (1) The Governments of HKSAR and Shenzhen are taking forward the HSWRL project through the Task Force for Hong Kong-Shenzhen Co-operation on Cross-Boundary Railway Infrastructure jointly established by the two governments. Currently, the first stage and second stage studies of the HSWRL project undertaken by the Task Force have been completed, which confirmed the strategic value and necessity of the project. The studies also initially assessed the planning, engineering feasibility, benefits, environmental impact, construction and operation arrangements of the railway scheme. The Governments of HKSAR and Shenzhen are now working together to commence the next stage of preparatory work. The current proposed alignment of the HSWRL should be able to meet the demand arising from the planned developments of the Hung Shui Kiu/Ha Tsuen New Development Area and Qianhai Co-operation Zone in Shenzhen, as well as the need for closer social, economic and personnel exchanges of the two places. In the long run, flexibility could be allowed for the Shenzhen and Hong Kong sections of HSWRL to extend northwards and southwards respectively.

         Meanwhile, the HKSAR Government is planning for the transport infrastructure for the Kau Yi Chau Artificial Islands (KYCAI), amongst which the preliminary alignment of Hong Kong Island West-Hung Shui Kiu Rail Link will pass through the KYCAI, Sunny Bay, Tuen Mun East and Hung Shui Kiu for connection with the planned HSWRL. We will study the implementation programme and interchange arrangement at Sunny Bay Station, with a view to maximising the cost benefits of the related railway network.

    (2) With regard to the proposal of enhancing the connection between Hong Kong and the Mainland via implementing “co-location arrangement” at HKIA, while there are precedents of the implementation of “co-location arrangement” at the road-based and rail-based boundary control points between the HKSAR and the Mainland, adopting such arrangement at HKIA will involve different legal and implementation issues and thus overall benefits, taking into account its mode of operation as an international aviation hub in connecting different destinations. As such, this has to be carefully considered.

         One of the considerations under study is the transit time for passengers as mentioned by the Member. Currently, transit passengers can proceed to their boarding gates after security check without going through any clearance procedures at HKIA. If “co-location arrangement” is implemented at HKIA, transit passengers travelling to/from the Mainland must complete immigration and customs clearance procedures of the Mainland at HKIA, which may increase the transit time for these passengers depending on the specific arrangements. We will continue our study on the benefits and implications of the proposed implementation of “co-location arrangement” at the airport from various perspectives, including its potential impact on transit time.

         Meanwhile, we will work with the AAHK to continue our efforts in putting forward measures to enhance clearance efficiency and connectivity with the Mainland, which includes developing the intermodal transport connection between HKIA and other cities in the GBA. In this regard, we will continue to pursue co-operation with Zhuhai Airport, including enhancing the Fly-Via-Zhuhai-HK service by promoting the service to more cities in the Mainland with which Hong Kong does not have direct flights. By integrating the international aviation network of HKIA and the domestic aviation network of Zhuhai Airport, we can achieve greater synergy and enhance Hong Kong’s status as an international aviation hub.

    (3) Dongguan is the manufacturing centre in the GBA with large quantities of goods to be exported. With no airport in Dongguan, many goods manufactured in Dongguan and its neighboring regions are being transported to HKIA by land for exporting to the overseas every day. To fully capitalise on HKIA’s advantages in air cargo and to meet the demand for international aviation transport from the manufacturing sector in the GBA, the AAHK is taking forward the sea-air intermodal cargo transshipment mode in collaboration with Dongguan. Under this mode, export cargo from the Mainland can go through security screening, palletisation and cargo acceptance in advance in the upstream HKIA Dongguan Logistics Park set up in Dongguan. It will then be transported seamlessly by sea to the cargo pier on the airside of HKIA for direct transshipment to overseas destinations via Hong Kong’s international aviation network. International cargo may also be imported into the Mainland vice versa. This mode will provide a more seamless and convenient international air network for the cargo in the GBA, improve the efficiency of cross-border air cargo transshipment, and further leverage Hong Kong’s function as an air cargo transshipment hub.

         The AAHK expects to complete the first-phase construction of the permanent facility of the HKIA Dongguan Logistics Park Phase 1 by the end of next year in Dongguan and to commence the preliminary study of the development plan for Phase 2 development next year. In light of the fact that Dongguan is the manufacturing centre in the GBA, the AAHK will focus resources to press ahead with the development of the sea-air intermodal cargo transshipment mode and construction of the HKIA Dongguan Logistics Park with Dongguan to maximise the benefits of the sea-air intermodal cargo transshipment mode.

         â€‹Thank you, President.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ7: New Industrialisation and Technology Training Programme

    Source: Hong Kong Government special administrative region

    LCQ7: New Industrialisation and Technology Training Programme
    LCQ7: New Industrialisation and Technology Training Programme
    *************************************************************

         Following is a question by the Hon Shang Hailong and a written reply by the Acting Secretary for Innovation, Technology and Industry, Ms Lillian Cheong, in the Legislative Council today (November 6): Question:      It has been reported that between August 2022 and August 2024, a course provider, after successfully registering a number of courses supported by the New Industrialisation and Technology Training Programme (NITTP), allegedly obtained by fraud training grants using false trainee information, and was eventually granted a total of $1.89 million under NITTP. In this connection, will the Government inform this Council: (1) of the respective numbers of cases of fraud or abuse of training grants reported by members of the public and organisations, and those discovered through investigations initiated by the Innovation and Technology Commission (ITC) and the Vocational Training Council (VTC), the Secretariat of NITTP, in each year since the launch of NITTP in 2018; (2) whether ITC and VTC currently have any task force or department responsible for preventing and investigating cases of fraud and abuse of training grants; if so, of the relevant staffing establishment, and the measures in place to prevent the recurrence of fraud and abuse; and (3) as the Government has earlier indicated that its target is to roll out the business version of “iAM Smart” progressively from the end of 2026 onwards, whether it will, on the premise that personal privacy is protected, verify the information (e.g. tax returns) of NITTP applicants or organisations in the system, so as to assist the relevant departments in vetting and approving NITTP applications as well as eradicating fraud or abuse? Reply: President,      To nurture local innovation and technology talents, the Innovation and Technology Commission (ITC) launched the New Industrialisation and Technology Training Programme (NITTP) under the Innovation and Technology Fund in August 2018, which subsidises, on a 2 (Government):1 (enterprise) matching basis, local enterprises for training their staff in advanced technologies, especially those related to “new industrialisation”. Since the launch of the NITTP, the ITC has all along appointed the Vocational Training Council (VTC) as the Secretariat. Currently, the Secretariat has an establishment of 14 staff. My reply to the various parts of the question is as follows: (1) According to the information provided by the VTC, a total of 15 complaints related to the NITTP have been received in the past five years (i.e. from August 2018 to October 2024), covering issues on the quality of course providers/training courses, the administrative arrangements of the NITTP, as well as cases involving unscrupulous practices and false information. The VTC has referred eight cases with initial evidence suggesting of suspected illegal activities (including unscrupulous practices, identity thefts or submission of false information) to law enforcement agencies for follow-up. The VTC has immediately suspended the processing of these cases and stopped all relevant disbursements of training grants. (2) According to the latest Guidance Notes for Training Grant Applications (Training Grant Guide), employees nominated by companies applying for training grants must be under full-time employment of the company with the necessary background/experience relevant to the advanced technology concerned. The nominated trainee should hold a bachelor degree/higher diploma/diploma or above qualification (Qualification Framework level 3 or above) with at least one year of work experience relevant to the advanced technology of the subject nominated course. The NITTP also requires the applicant company to provide, among other things, a copy of the Hong Kong Identity Card of the relevant employees, records of Mandatory Provident Fund contribution of past three months, documentary proof of academic qualifications and proof of full-time work experience to the NITTP Secretariat before the commencement of training course. After completion of training course, the company should submit to the VTC all supporting documents required for disbursement of training grant, including confirmation of training completion and payment, as well as trainees’ survey. The VTC will verify the relevant supporting documents submitted by the company after completion of training course, and will only disburse training grant upon confirming that the documents submitted by the company are complete and the trainees have met the attendance requirement of the relevant courses.      Separately, according to the Guidance Notes for Public Course and Tailor-made Course Applications and Training Grant Guide of the NITTP, the VTC may conduct surprise visits on any registered training courses without prior notice to the course providers to ensure that the training courses are conducted in compliance with the requirements of the relevant guidelines. In accordance with established procedures, the VTC will conduct independent surprise class visits on training courses organised by different course providers under the NITTP every month according to the relevant mechanisms. The surprise class inspection aims to assist in verifying that the registered courses are conducted in accordance with the approved course proposals. In this regard, surprise inspection personnel will confirm the identity of the trainer, check the course content and monitor the course duration. The manpower establishment provided by the VTC includes surprise inspection personnel. Since the VTC personnel involved are also responsible for other administrative duties, there is no breakdown on the number of personnel dedicated to carrying out surprise inspections.       At the same time, the ITC and the VTC have formulated guidelines for on-site visits to companies applying training grant under the NITTP, covering the circumstances under which on-site visits shall be conducted, the criteria for inspections during on-site visits, the points-to-note for inclusion in the visit reports, as well as follow-up actions required in case of non-compliances found during the visit. The VTC will identify applicant companies of which on-site visits would be conducted on a risk-based approach.      The ITC, together with the VTC, will continue to closely monitor the operation and effectiveness of the NITTP, review the application, registration and approval mechanisms of the NITTP in a timely manner and make amendments as and when necessary. (3) The Digital Corporate Identity (CorpID) Platform provides various functions, including corporate identity authentication, digital signing, pre-filling of forms and storage of digital licences and permits. Same as the personal digital identity authentication application “iAM Smart”, the CorpID Platform itself does not store data of other government systems (such as tax returns). When a corporation applies for or uses the CorpID for online services, the Platform will verify the information provided by the corporation (such as the name of the organisation, owners and directors, and the Unique Business Identifier) against the information registered with the relevant departments and check its status. If a department wishes to access the applicant corporation’s data stored in other government systems, it may do so through the Consented Data Exchange Gateway in compliance with existing laws and regulations.

     
    Ends/Wednesday, November 6, 2024Issued at HKT 15:58

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ19: Implementing e-Government services

    Source: Hong Kong Government special administrative region

    LCQ19: Implementing e-Government services
    LCQ19: Implementing e-Government services
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         Following is a question by the Hon Dominic Lee and a written reply by the Acting Secretary for Innovation, Technology and Industry, Ms Lillian Cheong, in the Legislative Council today (November 6):Question:     In September this year, members of the Panel on Transport of this Council conducted a duty visit to Shanghai and Hangzhou. During the duty visit, I ‍have learnt that the Shanghai Municipal People’s Government accepts the presentation of electronic versions of identity cards on mobile phones by members of the public as legal identity documents. On implementing e-‍Government services, will the Government inform this Council:(1) whether it will, by drawing reference from the experiences of some Mainland cities, consider amending the legislation to accept Hong Kong identity cards presented by members of the public on designated mobile applications (e.g. “iAM Smart”) as legal identity documents, so that members of the public do not need to carry physical Hong Kong identity cards when they go out, thus making their daily lives more convenient; and (2) as the authorities indicated in January this year that they planned to introduce electronic driving licenses between the middle of this year and early next year, of the specific implementation date for the measure, and how the authorities plan to promote it to motorists?Reply: President,      Having consulted the Security Bureau and the Transport and Logistics Bureau, a consolidated reply in response to the questions raised by the Hon Dominic Lee is as follows: (1)  Hong Kong Identity Card (HKIC) is a document widely accepted for proving the identity of the cardholder in Hong Kong. Section 17C of the Immigration Ordinance (Cap. 115) stipulates that every person who has attained the age of 15 years and is the holder of an identity card or is required to apply to be registered under the Registration of Persons Ordinance (Cap. 177) shall have with him at all times proof of his identity. According to Section 17B(1) of the Immigration Ordinance, proof of identity includes, but is not limited to, his valid HKIC.      Besides, citizens may need to produce ones’ proof of identity for identity verification based on individual circumstances (such as assisting public officers to enforce the laws or accessing Government-related services).     As for the implementation of electronic HKIC, due to the need to consider many complicated factors, relevant government departments will study the feasibility to explore the way forward.(2) Relevant departments, including the Transport Department (TD) and the Department of Justice, etc. are carrying out the law drafting work for implementing electronic driving licence (DL), and will strive to introduce the bill to the Legislative Council as soon as possible, with a view to launching electronic DL within 2025. DL holders can then choose to carry either a physical DL or log in to a dedicated mobile application through “iAM Smart” or e-licensing portal to be launched by the TD to display the electronic DL on their smartphones.  Upon the passage of the legislative amendments, the TD will promote the electronic DL to the public, in particular the DL holders, which include providing tutorial video on the website of the TD and relevant departments, producing promotional banners and leaflets, etc.

     
    Ends/Wednesday, November 6, 2024Issued at HKT 16:00

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: CE meets leaders of Shanghai (with photos/video)

    Source: Hong Kong Government special administrative region

    CE meets leaders of Shanghai (with photos/video)
    CE meets leaders of Shanghai (with photos/video)
    ************************************************

         ​The Chief Executive, Mr John Lee, today (November 6) led a Hong Kong Special Administrative Region (HKSAR) Government delegation to continue his visit in Shanghai. He met with leaders of Shanghai and exchanged views with representatives from enterprises and talent who have recently arrived to develop in Hong Kong.           In the morning, Mr Lee met with enterprises and talent newly settled in Hong Kong to understand how their development is progressing and learn about their daily lives. Mr Lee welcomed them to the Hong Kong family and encouraged them to make good use of Hong Kong’s business and investment platforms, as well as its unique position and advantages in international finance, innovation and technology, and professional services, to expand their business and careers. Mr Lee stated that the HKSAR Government will continue to work diligently to attract enterprises and talent, assisting them in achieving successful development in Hong Kong while creating new impetus for the city’s growth.           At noon, Mr Lee met with the Secretary of the Shanghai Municipal Committee of the Communist Party of China (CPC), Mr Chen Jining, and the Mayor of Shanghai, Mr Gong Zheng. The Executive Deputy Director of the Hong Kong and Macao Work Office of the CPC Central Committee and the Hong Kong and Macao Affairs Office of the State Council, Mr Zhou Ji, also attended the meeting. Mr Lee extended his congratulations on the successful opening of the China International Import Expo (CIIE) and expressed his hopes for fruitful outcomes. He thanked Mr Chen for his ongoing support of Hong Kong, and expressed his appreciation for the importance the CPC Shanghai Municipal Committee and the Shanghai Municipal Government have attached to the HKSAR delegation, as well as their thoughtful arrangements. Mr Lee expressed his heartfelt gratitude to the Central Government and the Shanghai Municipal Government for their strong support of the HKSAR Government in holding the Hong Kong Investment Promotion Conference – Shanghai Forum during this year’s CIIE, highlighting Hong Kong’s latest advantages and business environment to Mainland enterprises.           Mr Lee also thanked the CPC Shanghai Municipal Committee and the Shanghai Municipal Government for their emphasis on Shanghai-Hong Kong co-operation over the years. He noted that Shanghai and Hong Kong have maintained deep co-operation and close relations in various areas such as the economy and trade, finance, innovation and technology, education, culture, and youth exchanges. This year marks the 10th anniversary of the Shanghai-Hong Kong Stock Connect, and the Sixth Plenary Session of the Hong Kong/Shanghai Co-operation Conference was held in April, demonstrating that co-operation between the two places has reached new levels. Mr Lee is confident that the two places will continue to achieve complementarity and mutual benefits, fostering synergistic developments in different areas and contributing to the country’s high-quality development.           Mr Lee will return to Hong Kong this afternoon.   

     
    Ends/Wednesday, November 6, 2024Issued at HKT 16:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: RGA Congratulates President Donald J. Trump on Victory

    Source: US Republican Governors Association

    The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

    WASHINGTON, D.C. – Republican Governors Association Chair and Tennessee Governor Bill Lee issued the following statement congratulating President Donald J. Trump on being elected the 47th President of the United States:

    “Congratulations to President Trump on his decisive victory. America needs real leadership, and Republican Governors are looking forward to welcoming President Trump back to the White House. There is no doubt President Trump will unify our country by strengthening our economy, securing our Nation’s borders, and restoring safety in our communities. We stand united to help President Trump and Vice President Vance advance their America First agenda, which will create greater opportunity, security and freedom for all Americans. Let’s get to work!”

    ###

    MIL OSI USA News –

  • MIL-OSI: Hapag-Lloyd Partners with HERE Technologies to Transform Global Supply Chain Visibility with Advanced Tracking Solution

    Source: GlobeNewswire (MIL-OSI)

    • Hapag-Lloyd has equipped over 1.5 million containers with advanced tracking devices, integrating HERE Tracking into their real-time tracking solution to enhance inland Estimated Time of Arrival (ETA) calculations across global transportation networks.
    • HERE Tracking delivers precise, AI-powered ETAs, providing Hapag-Lloyd with critical data for better operational planning, control and customer satisfaction.

    Hamburg, Germany and Amsterdam, Netherlands — Hapag-Lloyd, a global leader in container shipping, and HERE Technologies, the leading location data and technology company, today announced a strategic partnership focused on significantly improving visibility in global supply chains. HERE Tracking enhances Hapag-Lloyd’s existing real-time smart container tracking solution Live Position with predictive ETAs for inland transportation, driving operational efficiency and improving customer satisfaction.

    As supply chain disruptions continue to impact industries worldwide, the need for real-time visibility has never been greater. With the deployment of over 1.5 million container tracking devices to 90% of Hapag Lloyd’s total fleet, utilizing the HERE Tracking solution, Hapag-Lloyd can now accurately predict arrival of these containers across their rail, barge and truck transportation networks. The tracking devices will extend to Hapag-Lloyd’s entire fleet and include ETA prediction early next year.

    By leveraging AI-powered, predictive ETAs from HERE, businesses and operations managers can rely on continuously updated data throughout the entire transport journey. This accuracy empowers more effective planning and decision-making, ultimately improving operational efficiency.

    HERE Tracking, a versatile location service, offers customers the ability to monitor transportation in real time, both outdoors and indoors, and across multiple transportation modes. Along with predictive ETAs, the service also provides customizable geofencing for smart, event-based alerts and notifications and advanced post-trip analytics.

    HERE Tracking is delivered via an application programming interface (API), offering seamless integration with existing enterprise software, and allowing customers to maintain full control of their data.

    Jason Jameson, Chief Customer Officer at HERE Technologies, said: “We are excited to redefine the future of supply chain visibility together with Hapag-Lloyd and to provide their customers with the precise ETAs they need to stay competitive in a constantly evolving marketplace. We are looking forward to extending our partnership with Hapag-Lloyd to further enhance their service offerings for even greater operational efficiency and end-customer satisfaction.”

    “As the first carrier to offer real-time visibility of our container locations through our Live Position product, Hapag-Lloyd is taking the next step with HERE to enhance inland ETA predictions,” said Patrick Briest, Head of Network & Operations IT Products at Hapag-Lloyd. “While we already know where each container is at any moment, our collaboration with HERE allows us to predict where it will be across any transport mode, in any country. This capability significantly boosts our operational planning and supports our customers with unparalleled precision in shipment timing.”

    Media Contacts
    HERE Technologies
    Dr. Sebastian Kurme
    +49 173 515 3549 
    sebastian.kurme@here.com

    Anna Glockner
    +44 7855 170344
    anna.glockner@here.com

    Hapag-Lloyd
    Hanja Maria Richter
    +49 40 3001 5102
    HanjaMaria.Richter@hlag.com

    Leon Schulz
    +49 40 3001 4042
    LeonJukka.Schulz@hlag.com

    About HERE Technologies
    HERE has been a pioneer in mapping and location technology for almost 40 years. Today, the HERE location platform is recognized as the most complete in the industry, powering location-based products, services and custom maps for organizations and enterprises across the globe. From autonomous driving and seamless logistics to new mobility experiences, HERE allows its partners and customers to innovate while retaining control over their data and safeguarding privacy. Find out how HERE is moving the world forward at here.com.

    About Hapag-Lloyd
    With a fleet of 287 modern container ships and a total transport capacity of 2.2 million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. In the Liner Shipping segment, the Company has around 13,700 employees and 400 offices in 140 countries. Hapag-Lloyd has a container capacity of 3.2 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 114 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. In the Terminal & Infrastructure segment, Hapag-Lloyd has equity stakes in 20 terminals in Europe, Latin America, the United States, India and North Africa. Around 2,900 employees are assigned to the Terminal & Infrastructure segment and provide complementary logistics services at selected locations in addition to the terminal activities.

    Attachment

    The MIL Network –

  • MIL-Evening Report: Black balls on Sydney beaches are likely ‘fatbergs’ showing traces of human faeces, methamphetamine and PFAS: new analysis

    Source: The Conversation (Au and NZ) – By Jon Beves, Associate Professor of Chemistry, UNSW Sydney

    Jon Beves, CC BY

    The mysterious black balls that washed up on Sydney’s beaches in mid-October were likely lumps of “fatberg” containing traces of human faeces, methamphetamine and PFAS, according to a new detailed analysis of their composition.

    Initial reports suggested the ominous lumps were probably tar balls from an oil spill. However, analysis with a barrage of scientific tests has revealed a more complicated picture.

    The mysterious black balls

    On October 16, the first reports emerged from Coogee Beach in Sydney’s east. Lifeguards reported numerous black spheres on the sand that appeared at first glance to be tar-like.

    Similar sightings were soon reported at nearby Bondi, Bronte, Tamarama and Maroubra beaches, prompting immediate closures and cleanup efforts. Authorities initially feared these could be toxic “tar balls”, leading to health advisories and public warnings.

    Preliminary testing by Randwick Council was consistent with tar balls made up of oil and debris.

    Oil – or something more disgusting?

    We set out to find out exactly what the black balls were made of and where they came from. We ran a wide range of tests and analyses with colleagues from UNSW in collaboration with the Mark Wainwright Analytical Centre and the the environmental forensics arm of the federal Department of Climate Change, Environment, Energy and Water (DCCEEW). We also collaborated with the NSW Environment Protection Authority (EPA), and Randwick Council.

    Initial testing, based primarily on results from a technique called solid-state nuclear magnetic resonance spectroscopy, suggested the material resembled unrefined oil. However, further testing indicated a different, more disgusting, composition.

    A cross section of one of the balls, showing its sandy coating and surface, some fibres, and the core.
    Jake Ireland, CC BY

    Analysing the elements involved revealed the black goop was mostly carbon. Radiocarbon dating then showed only about 30% of the carbon had a fossil origin, suggesting fossil fuels were not the major component of the balls.

    We also identified significant levels of calcium, and much smaller amounts of various metals. Spectroscopic tests showed signatures in the black balls matching fats, oils and greasy molecules often found in soap scum, cooking oil and food sources. This pointed to human waste.

    PFAS, drugs and signs of faeces

    The next step was to see if we could dissolve the substance in organic solvents. Only about one-third to one-half of the mass dissolved this way.

    We were able to take a closer look at the dissolved part using a technique called mass spectrometry, which identifies molecules by their weight and electric charge. This revealed molecules found in vehicle-grade fuels as well as organic molecules such as fatty acids and glycerides.

    We also identified industrial perfluoroalkyl substances (PFAS or “forever chemicals”), steroidal compounds such as norgestrel, antihypertensive medications such as losartan, pesticides, and veterinary drugs. This is consistent with contamination from sewage and industrial runoff.

    The crushed up interior of one ball, ready for testing.
    Jon Beves, CC BY

    There were also signs of human faecal waste, including a cholesterol byproduct called epicoprostanol and residues of recreational drugs including tetrahydrocannabinol (also known as THC, a compound found in the cannabis plant) and methamphetamine. This is consistent with contributions from domestic waste.

    Analysing the part of the mass that we couldn’t dissolve proved more challenging. Here we tried solid-state nuclear magnetic resonance and a method called Fourier transform infrared spectroscopy, which uses infrared light to detect chemicals. The results suggested the presence of fats, but they were not definitive.

    Were the blobs lumps of fatberg?

    So what does all this mean? The high levels of fats, oils, greasy molecules and calcium, along with the low solubility, are consistent with a “fatberg”: a congealed mass of fats, oils and greasy molecules that can accumulate in sewage.

    The detection of markers of human fecal matter, medication and recreational drugs suggest the origin may be sewage or other urban effluent. However, while the composition of these black balls suggests they may be similar to fatbergs, we cannot definitively confirm their exact origin.

    The black ball incident does highlight the broader issue of pollution along Sydney’s coastline.

    Recent reports indicate about 28% of monitored swimming sites in New South Wales are prone to pollution. Many receive poor water quality ratings, especially after rain. Beaches such as Gymea Bay, Coogee Beach, Malabar Beach, and Frenchmans Bay have been identified as areas of concern, with advisories against swimming due to contamination from human faecal matter.

    Urban waste pollution

    Analysing and understanding urban waste pollution is not an easy task. It requires a multi-disciplinary approach.

    To unravel the complex composition of the blobs, we used carbon-14 dating, mass spectrometry, elemental analysis and microscopy techniques.

    Even after all we did, we cannot yet draw definitive conclusions regarding the primary source of the blobs. This uncertainty reflects the broader challenges faced by scientists and environmental agencies in tracking and addressing pollution in coastal areas.

    This incident underscores the importance of thorough scientific analysis in understanding environmental issues. By continuing to investigate the sources and composition of such pollutants, we can learn more about how urban waste management affects the health of our coasts.

    This research was led by UNSW researchers, including Associate Professor Jon Beves, Dr Tim Barrows, Dr Martin Bucknall, Professor William Alexander Donald, Dr Albert Fahrenbach, Dr Sarah Hancock, Dr Christopher Hansen, Ms Lisa Hua, Dr Martina Lessio, Dr Chris Marjo, Associate Professor Vinh Nguyen, Dr Martin Peeks, Dr Aditya Rawal, Dr Chowdhury Sarowar, Professor Timothy Schmidt, Dr Jake Violi and Dr Helen Wang.

    Jon Beves receives funding from the Australian Research Council and the Australian Renewable Energy Agency. He is affiliated with The Greens.

    William Alexander Donald receives funding from the Australian Research Council, the US National Institutes of Health, iCare Dust Diseases Care, Coal Services NSW Health and Safety Trust, as well as industry-funded research contracts.

    – ref. Black balls on Sydney beaches are likely ‘fatbergs’ showing traces of human faeces, methamphetamine and PFAS: new analysis – https://theconversation.com/black-balls-on-sydney-beaches-are-likely-fatbergs-showing-traces-of-human-faeces-methamphetamine-and-pfas-new-analysis-242681

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI NGOs: Mozambique: End violent post-election crackdown ahead of 7 November Maputo march

    Source: Amnesty International –

    Ahead of a major opposition march planned for 7 November in Maputo following disputed elections, Mozambique’s Frelimo-led government must halt its violent and widespread crackdown on human rights and respect everyone’s rights to freedom of expression, peaceful assembly and association, Amnesty International said. 

    The crisis in Mozambique is the country’s worst crackdown on protests in years. Police have killed more than 20 people and injured or arrested hundreds more, according to civil society. Security forces have routinely tried to violently and unlawfully break up peaceful assemblies with tear gas, bullets and arbitrary arrests. Authorities say protesters killed at least one police officer. 

    “The last two weeks in Mozambique have been marked by completely unnecessary bloodshed as authorities have tried to stop a peaceful protest movement with deadly force. The number of casualties increases every day, with authorities deploying weapons of war, including rifles and armoured vehicles, on city streets. People cannot even protest in their own homes without risking tear gassing by police,” said Khanyo Farise, Amnesty International’s Deputy Regional Director for East and Southern Africa. 

    The government has repeatedly cut internet access across the country and blocked social media sites for nearly a week. Unknown gunmen assassinated two leading opposition figures, and opposition leader Venancio Mondlane is in hiding. 

    Mozambique’s government has the primary responsibility to respect and uphold human rights, but neighboring countries and international organizations, including the Southern African Development Community and the African Union, must forcefully speak out now to prevent further unlawful killings and other human rights violations. 

    “This outrageous chapter in Mozambique’s history must end now, and perpetrators must be brought to justice. Mozambique’s government must pull back from the brink to avert further human rights violations,” said Khanyo Farise. 

    MIL OSI NGO –

  • MIL-OSI Global: US election: Trump declares victory – ‘There’s never been anything like this’

    Source: The Conversation – UK – By Jonathan Este, Senior International Affairs Editor, Associate Editor

    This is a rolling guide to articles and audio published by The Conversation in the immediate run-up to and aftermath of the election, with some explainers about the process. This page is updated from the top, so older references are moved down the page.

    The United States has made its choice. At just before 8am GMT (3am Florida time) Donald Trump took to the stage at the West Palm Beach convention center and claimed victory for the Republican Party. His declaration came minutes after it was announced he was going to win in the key state of Pennsylvania with its 19 electoral college votes.

    He thanked a large crowd of his adoring supporters, saying: “This was a movement like nobody’s ever seen before, and frankly, this was, I believe, the greatest political movement of all time. There’s never been anything like this in this country, and maybe beyond.”

    It’s been a turbulent four months since outgoing president Joe Biden announced he was terminating his bid for a second term and the battlelines between the two candidates, Donald Trump and Kamala Harris were drawn. Soon we will know who will lead the US for the next four years.

    From here, with the help of some of the sharpest analysts of US politics, we’ll keep you updated and informed as the situation develops.

    Dafydd Townley, teaching fellow in international security at University of Portsmouth, has written an overview of how the election went down, with turnout looking high and no major incidents of violence, despite what look like numerous bomb hoaxes with possible Russian origins.

    Turnout has been impressive and initial speculation is that Trump has surpassed his rural support from 2020 while Democrat Kamala Harris only matched the suburban numbers that Biden achieved four years ago. NBC exit polls also showed Trump had more support from voters under 30 than any Republican candidate since 2008.



    Read more:
    Trump takes first swing states after voting passes peacefully

    The US has moved to the right

    Natasha Lindstaedt says that academics and pundits got the polls badly wrong in 2024.

    The polls were right – he had a lot more strength [than we all thought]. We thought the polls were seriously underestimating Kamala Harris and that she was doing far better than they were predicting, when they said it was a knife edge. But it turns out they were underestimating Trump.

    The US has moved to the right. The abortion bill wasn’t overturned in Florida, Ted Cruz won by ten points in Texas, a state that we thought might be competitive. We thought with this Iowa poll that Harris might be more competitive with white voters. It’s been a great night for Trump and an absolute disaster for the Democrats.

    She said that many people following the campaign thought that women were going to turn out and that would make the difference. But in fact it didn’t.

    Trump gained a lot more than he had in 2020 – probably due to nostalgia of what his administration was like, looking at it through rose-coloured glasses, forgetting the chaos and all the upheaval he created himself. Now he’s going to inherit a great economy – and he’s going to take credit for it.

    Trump wins Pennsylvania, declares victory

    Donald Trump claimed victory in the 2024 presidential election. It followed hot on the heels of the networks announcing he had won the Commonwealth of Pennsylvania. Richard Hargy says the state has played an important part in the whole campaign, he says.

    It was in Butler, Pennsylvania, last July, where Trump survived an assassination attempt during a campaign rally after a gunman opened fire from a nearby rooftop.

    The Trump victory in Pennsylvania was greatly helped by the world’s richest man, Elon Musk’s intercession into the presidential election. He financed a multi-billion dollar door-knocking operation across the state and held events in support of Donald Trump.

    On Monday a Pennsylvania judge had ruled that a $1-million-a-day voter sweepstake organised by Musk was legal and could continue into Tuesday’s election.

    When will we know the result?

    To get an idea of the scale of the task of counting votes, take a look at the below map of the US colour-coded by poll closing times. How long the count could take is anyone’s guess at this stage. Each state has its own rules.

    Ahead of the polls closing Richard Hargy, an expert in US politics from Queen’s University Belfast, wrote a guide to the process, when the votes are counted and when we might start to see results.



    Read more:
    US election: what time do the polls close and when will the results be known? An expert explains

    Delays are baked into the process, such as Pennsylvania, which doesn’t allow votes cast before election day or ballots posted in to be counted until polls close, which was at 8pm (1am GMT).

    So we’ll just have to be patient. In the mean time, you can also read Hargy’s explainer on the “electoral college” system, which can mean that the candidate with the most votes may not win the presidency.



    Read more:
    US election: how does the electoral college voting system work?

    Early voting and what it might mean

    Scott Lucas, professor of international politics at University College Dublin, believes that in a cliffhanger election, a clue to the outcome may be in the size of turnout. More than 80 million Americans voted early – around half of the total turnout in 2020 and around one-third of the eligible electorate.

    The 80 million figure takes on added significance with the recognition that it is not that distant from the 104 million who participated early in the “pandemic” election four years ago. And that 2020 ballot, with 158.4 million votes and almost 67% participation, was the largest turnout since 1900.

    Who does that favour? Probably Kamala Harris and Tim Walz. Trumpists will turn out for their man come hell or high water. The large question mark has been whether potential Harris voters would sit on their hands, whether from lack of enthusiasm or dissatisfaction on issues such as Israel’s open-ended war on Gaza.

    Any prediction in this election is a risk. But it might be worth setting a marker: if turnout matches or exceeds the record set in 2020, Kamala Harris could be on the way to the White House.

    Tense moment for the US

    During the campaign there have been two assassination attempts on former president Trump as well as arson attacks on ballot boxes and ballots damaged. In Arizona the Democratic party was forced to close one of its offices after it had been shot at three times.

    Dafydd Townley, a fellow in international security at Portsmouth University, believes that there could be a reluctance to accept the result and that this could result in further disturbances. He has written about how much violence there has been during this campaign.



    Read more:
    US election: officials are issued with panic buttons as attacks on ballot boxes continue

    Dafyyd Townley comments on post-election violence.

    How race has played into the campaign

    Rhianna Garrett, PhD researcher and global coordinator of the critical mixed race studies executive board at Loughborough University, says that Trump’s campaign has been “littered with attempts to weaponise” the multiracial heritage of his Democrat opponent Kamala Harris.

    Much of this has been a dog-whistle attempt to stir up his own base, partly with fairly blatant appeals to latent feelings of racism, but also as a tool to position Harris as deceiving and untrustworthy by apparently blurring and shifting her own background.

    In August, not long after Harris took over the Democrat ticket from Biden, Trump appeared at the National Association of Black Journalists conference when he wrongfully claimed that Harris was changing her identity, stating: “I didn’t know she was Black until a number of years ago when she happened to turn Black, and now she wants to be known as Black, So I don’t know. Is she Indian or is she Black?”.

    For her part, Harris’s campaign has also used her multiracial heritage to further their political agendas. On the White House website, she is described as “the first woman, the first Black American, and the first South Asian American” to hold a vice-presidential position, which has effectively attempted to position her as a winner. Harris herself has also foregrounded “race” on her campaign website. In attempt to attack Trump’s campaign, she strategically aims to promote Black and Latino men specifically, as well as women’s rights. These are key voter groups she has aimed to mobilise through identity politics.

    Trump and winning male voters

    Donald Trump widened his appeal to male voters in this election, with polling indicating that he was picking up more support from Black and Latino men, as well as more young men more widely.

    One reason for this may be that in 2024 young men are more conservative than any other group in the US. Another reason why gender has become a divisive issue is the overturning of Roe v Wade, the legal case that gave American women abortion rights.

    Read more on the gender divide in this article from Natasha Lindstaedt, a professor of government at Essex University.



    Read more:
    US election: why more men and fewer white women say they will vote for Trump

    A free speech campaign?

    Julie Posetti, professor of journalism at City St George’s, University of London, and global director of research at the International Center for Journalists, recently conducted a survey of more than 1,000 Americans on their attitudes to the press.

    Breaking down the results, they were able to build a picture of what people in the US think of targeting journalists for criticism and even abuse. You can read all about the study here.



    Read more:
    New survey finds an alarming tolerance for attacks on the press in the US – particularly among white, Republican men

    When Trump speaks – his supporters hear him loud and clear

    Channel 4 is showing pictures of the Trump party at the Palm Beach Convention Center, where the Maga faithful are celebrating the news that it appears that Trump has retaken Georgia in his second swing-state victory. Their idol is expected to join them soon.

    While we wait for him to speak, here’s a fascinating piece on Trump’s rhetorical style by Loren D. Marsh of the Humboldt University of Berlin. His speeches have been ridiculed by his opponents during the campaign. They say he’s unfocused, rambling and at times nonsensical. He calls it the “weave” and says it’s genius. Marsh says that whatever you may think, it seems to work for his supporters.

    Far from being a liability or an indication he is incapable of staying on message, Trump’s “weave” may well be his intuitive rhetorical strategy, a way of taking control of the media narrative.



    Read more:
    Trump’s speeches are chaotic, rambling, and extremely effective. Aristotle can explain why

    – ref. US election: Trump declares victory – ‘There’s never been anything like this’ – https://theconversation.com/us-election-trump-declares-victory-theres-never-been-anything-like-this-241711

    MIL OSI – Global Reports –

  • MIL-OSI Global: Trump takes first swing states after voting passes peacefully

    Source: The Conversation – UK – By Dafydd Townley, Teaching Fellow in International Security, University of Portsmouth

    Donald Trump looked poised to take some key battleground states this morning as votes continue to be counted. The Republicans were also being predicted to take control of the Senate.

    North Carolina with its 16 electoral college votes was called for Trump in the early hours of the morning, and another key east coast state, Georgia and its 16 electoral college votes, was also predicted to have been gained by Trump. Trump won other major states, from Iowa to Texas, with a strong showing at the polls.

    As well as this, Republicans have taken back control of the Senate as they were forecast to, after Democrats lost their slender lead. If Trump is victorious, this will provide him with the congressional support he needs to get his appointees ratified and pass laws without obstruction.

    Turnout has been impressive and initial speculation is that Trump has surpassed his rural support from 2020 while Democrat Kamala Harris only matched the suburban numbers that Biden achieved four years ago. NBC exit polls also showed Trump had more support from voters under 30 than any Republican candidate since 2008.

    The BBC reported that early exit polls indicated that voters were most concerned with the state of the democracy (35%) with the economy coming a close second (31%).

    These concerns have led to a turnout that will be just below the 2020 figures, according to Professor Michael McDonald, of the University of Florida.

    In too-close-to-call battleground state Pennsylvania, it was reported that voters were queueing in their hundreds over an hour before the polls opened at 7am.

    In Michigan, another key state in the election, officials said that those voters who had voted early – both the absentee and in-person votes – numbered almost as many as the total votes for the 2020 election.

    Michigan’s Secretary of State, Jocelyn Benson, said that the state was “on pace to see another high turnout election with voters all across the state enthusiastic and engaged”. And much of it was done in a good atmosphere with election chairperson Jennifer Jenkins telling reporters that it was “good vibes all around”.

    Safety concerns

    Concerns about whether election day would pass peacefully have not kept voters away.

    As revealed in a memo obtained by the non-partisan group, Property of the People, the Department of Homeland Security had issued a warning in September that election infrastructure was “an attractive target for some domestic violent extremists” particularly those with “election-related grievances” who seek to disrupt the democratic process and election operations.

    In the nation’s capital, Washington DC, police arrested a man who was stopped during the screening process at the US Capitol visitor centre. Authorities stated that he smelled like gasoline and had a torch lighter, flare gun and papers he intended to deliver to Congress.

    Capitol Police Chief J. Thomas Manger, speaking at a press conference shortly after the incident, stated that “there is no indication right now that it had anything to do with the election”.

    The greatest threat to the smooth running of the election on polling day seemed not to come from domestic perpetrators but from foreign interference, particularly in the crucial swing state races.

    Several polling stations in Georgia, Michigan, Arizona and Wisconsin were the victims of hoax bomb threats that caused temporary closures of the sites. The threats were believed to be sent by emails that were traced back to Russian email domains.

    In Navajo County in Arizona, four polling stations were the target of bomb threats. Arizona Secretary of State Adrian Fontes told reporters that election officials in the state had “no reason to believe that any of our voters or any of our polling places are in any sort of jeopardy.”

    “We also have reason to believe, although I won’t get into specifics, that this comes from one of our foreign enemies, namely Russia,” he continued.

    In Pennsylvania, Governor Josh Shapiro announced at a press conference that there had been multiple bomb threats at polling stations and municipal centres across the state.

    Shapiro, who was at one time thought of as a potential running mate for Harris, revealed that “state and local law enforcement – along with the FBI – are investigating these threats and thus far, there is no credible threat to the public”.

    This came after reports emerged of at least ten polling locations in Philadelphia and in surrounding areas were sent a bomb threat via email at 6pm local time.

    Republican Georgia Secretary of State Brad Raffensperger accused Russia of being the cause of the threats aimed at polling locations in the southern state. “They don’t want us to have a smooth, fair and accurate election, and if they can get us to fight among ourselves, they can count that as a victory,” he told reporters.

    The FBI stated that it was aware of the threats and that many appeared “to originate from Russian email domains”. The Russian embassy in Washington denied the threats.

    Last Thursday, Georgia was also the subject of what the US intelligence community called a disinformation campaign designed to cast doubt on the legitimacy of the election result through an online video that “depicted individuals claiming to be from Haiti and voting illegally in multiple counties in Georgia”.

    Researchers at Clemson University in South Carolina identified the work as being that of Russian disinformation group Storm-1516. Darren Linvill of Clemson University, stated that Russian group had “turned their focus squarely on the US election.”

    And the integrity of this election took a further hit when Republican candidate Donald Trump made unfounded accusations on social media platform Truth Social of election fraud in Philadelphia, a must-win state for the former president.

    Philadelphia District Attorney Larry Krasner said through a spokesperson that “the only talk about massive cheating has come from one of the candidates, Donald J. Trump. There is no factual basis whatsoever within law enforcement to support this wild allegation”.

    Experts have warned that such campaigns could give momentum to accusations that the election is not legitimate and that this, in turn, could trigger post-election violence.

    As the results come in, America holds it breath that any potential transition of power will be more peaceful than four years ago.

    Dafydd Townley 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. Trump takes first swing states after voting passes peacefully – https://theconversation.com/trump-takes-first-swing-states-after-voting-passes-peacefully-242716

    MIL OSI – Global Reports –

  • MIL-OSI Russia: Polytechnicians are winners and prize winners of the Olympiad in engineering and computer graphics

    Translation. Region: Russian Federation –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    A team of students from the Polytechnic University took part in the All-Russian and regional Olympiads in engineering and computer graphics (descriptive geometry).

    The 23rd All-Russian Student Olympiad in Descriptive Geometry, Engineering and Computer Graphics “Geometryada” was held in Moscow at the Department of Engineering and Computer Graphics of the Russian Technological University – MIREA. Representatives of 22 Russian universities competed for the victory, including three from St. Petersburg – SPbPU, BSTU “VOENMEKH” named after D. F. Ustinov and SPbSUT named after prof. M. A. Bonch-Bruevich.

    The Polytechnic University team participated in the Olympiad for the first time. The team included IMMiT students Kirill Khitushkin, Aidar Ibragimov, Matvey Leontyev, Anton Izyumov and Artem Doronin. In the team standings in the “Descriptive Geometry” section, the Polytechnics took third place. In the individual standings, Kirill Khitushkin also came in third. In the “Engineering Graphics” section, the SPbPU team entered the top ten.

    The event was organized at the highest level. The opening ceremony left the most pleasant impressions. We successfully completed the tasks and gained valuable experience. We will look forward to participating next year to improve the result, – shared Matvey Leontiev.

    The first experience of participation of the polytechnics can be considered definitely successful. A special role in such a significant result was played by serious regular training, which was provided by Associate Professor Tatyana Markova, who conducted systematic classes with candidates for the team, – noted Associate Professor of the Higher School of Design and Architecture of the Institute of Social Sciences Mikhail Kokorin, the head of the team.

    Also, the regional student Olympiad in engineering and computer graphics (descriptive geometry) was held at BSTU “Voenmekh”, organized by the Committee for Science and Higher Education of St. Petersburg. The event was attended by 75 students from 12 St. Petersburg universities.

    The Polytechnic University was represented by students of the Civil Engineering Institute majoring in Architectural Environment Design A. Glukhova and D. Otinova, as well as students of the Institute of Metallurgy and Metallurgy K. Khitushkin, A. Ibragimov, M. Leontyev, A. Izyumov and I. Zaborovsky. The team leader is Associate Professor of the Higher School of Design and Architecture of the Civil Engineering Institute Tatyana Markova.

    The interuniversity jury checked and assessed the works, summed up the results. It included associate professors of the Higher School of Design and Architecture of the Institute of Social Sciences Mikhail Kokorin and Elena Knyazeva.

    Polytechnician Kirill Khitushkin won the individual championship (29.63 points out of 30), Aidar Ibragimov took second place (28.5 points out of 30).

    The Olympiad was memorable for its diverse tasks and the exciting search for solutions. It can be compared to solving a crossword or sudoku. The event flew by unnoticed, I wanted to stay longer and rack my brains, – said Daria Otinova.

    As a result, the Polytechnic University was awarded second place. The victory in the Olympiad was won by the BSTU “Voenmekh” team, and the third place went to the A.F. Mozhaisky VKA.

    The tasks were of a high level of complexity, but our students coped with them perfectly. We are proud of the guys and wish them further success in all their endeavors, – shared Elena Knyazeva.

    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 Russia: VDNKh invites you to free lectures as part of the International Week of Science and Peace

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    November 9 marks the beginning of the International Week of Science and Peace. On this day, free lectures for all comers will be held in the congress hall of the Cosmonautics and Aviation Center at VDNKh.

    At 14:00 guests are invited to a lecture “Closed space: you can’t quarrel, you can’t come to an agreement”. They will tell you how people with different views can live together, whether it is possible to never quarrel, and how to prevent conflict from developing. The speaker will be Anna Yusupova, a leading researcher at the Laboratory of Social and Cognitive Psychology at the Institute of Medical and Biological Problems of the Russian Academy of Sciences (RAS). In addition, the lecture will discuss self-regulation and self-help techniques, formulate a personal roadmap – try to define topics, criteria and points of no return for yourself.

    There will be a lecture at 16:00 “Achievements of Modern Physics”. Blogger, writer and popularizer of science Dmitry Pobedinsky will tell whether it is possible to meet life on other planets, create a code that cannot be deciphered and then crack it, and also what the Higgs boson hides. Guests will learn why the Universe is expanding. And there will also be talk about quantum computers, materials of the future and mysterious dark energy.

    The lecture will start at 18:00 “Asteroids. Small bodies of the Solar system”. It will be read by Leonid Elenin, a research fellow at the Keldysh Institute of Applied Mathematics of the Russian Academy of Sciences and a discoverer of comets and asteroids. Asteroids are objects in the Solar System discovered in the 19th century by the Italian astronomer Giuseppe Piazzi. There are now more than a million of them known. Among the asteroids, there are some that can pose a serious threat to the Earth. Listeners will learn where they came from, how astronomers discovered the distant Edgeworth-Kuiper Belt, what connects these cosmic bodies with comets, how to deliver a particle of their relict matter to Earth, and whether it is possible to extract minerals from them.

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

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

    http://vvv.mos.ru/nevs/item/146215073/

    MIL OSI Russia News –

  • MIL-OSI Russia: “Culture of Moscow”: a guide to highlights has appeared on the mos.ru portal

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    A section has opened on the mos.ru portal “Culture of Moscow”. It contains news, announcements of upcoming events, useful services and information about creative institutions. This was reported by Natalia Sergunina, Deputy Mayor of Moscow.

    “The new online project has already combined information on more than 800 city sites: parks, libraries, theaters, museums and other spaces,” noted Natalia Sergunina.

    The main page contains the main thematic blocks. One of them is “Events”.

    “Here users can choose concerts, excursions or performances that interest them and immediately buy tickets. Currently, the poster presents more than 15 thousand events. The list will be constantly updated and supplemented,” said Natalia Sergunina.

    The page has a convenient search system: by area, date and location of the institution. Here you can also find author’s selections, for example, “Five romantic performances” or “Six main exhibitions of autumn”.

    Offers for children and teenagers are placed in a separate category. In the block “Education”There is information about creative educational institutions and various courses.

    On the page “Libraries”Those interested can apply for a single library card, find the nearest library, look through the book catalogue and reserve publications.

    In addition, in the section “Culture of Moscow”will regularly talk about famous Muscovites, as well as about city programs, special projects and promotions.

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

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

    http://vvv.mos.ru/nevs/item/146227073/

    MIL OSI Russia News –

  • MIL-OSI Security: NATO Secretary General congratulates US President-elect Donald Trump and Vice President-elect JD Vance

    Source: NATO

    I congratulate Donald Trump on his election as President of the United States.

    I look forward to working with him again to advance peace through strength through NATO.

    Through NATO, the US has 31 friends and Allies who help to advance US interests, multiply American power and keep Americans safe.

    Together, NATO Allies represent half of the world’s economic might and half of the world’s military might.

    We face a growing number of challenges globally, from a more aggressive Russia, to terrorism, to strategic competition with China, as well the increasing

    alignment of China, Russia, North Korea and Iran.

    Working together through NATO helps to deter aggression, protect our collective security, and support our economies. 

    President-elect Trump demonstrated strong U.S. leadership throughout his first term in office – a term that turned the tide on European defence spending, improved transatlantic burden sharing, and strengthened Alliance capabilities. 

    When President-elect Trump takes office again on January 20, he will be welcomed by a stronger, larger, and more united Alliance. 

    Two-thirds of Allies now spend at least 2% of their GDP on defence, and defence spending and production are on an onward trajectory across the Alliance.

    We must continue these efforts in order to preserve peace and prosperity across North America and Europe. 

    MIL Security OSI –

  • MIL-OSI Africa: The Gambia becomes nineteenth signatory state of the Establishment Agreement of Fund for Export Development in Africa (FEDA)

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

    KIGALI, Rwanda, November 6, 2024/APO Group/ —

    The Republic of The Gambia has acceded the Establishment Agreement of the Fund for Export-Development in Africa (FEDA), the development impact investment arm of African Export-Import Bank (Afreximbank) (www.Afreximbank.com).

    With this accession, The Gambia becomes FEDA’s nineteenth member, reinforcing its commitment to fostering economic growth and development. This milestone follows a wave of recent accessions by other countries, which is driving FEDA’s momentum in broadening its scope of interventions and its mission of delivering long-term capital to African economies, with a focus on industrialization, intra-African trade and value-added exports.

    Some of FEDA’s recent strategic investments across the continent include its investment in Bloom Africa Holdings Limited (BAHL) in April 2024, a regional financial services platform operating across West Africa, including The Gambia, and a further USD300 million capital injection in Arise Integrated Industrial Platforms (Arise IIP) in October 2024. Others include strategic investment in Team Drogba, competing in the inaugural E1 Series, the world’s first-ever all-electric boat racing championship and the partnership with the Republic of Malawi in June 2024 to develop the Magwero Industrial Park to expedite Malawi’s industrialization process.

    FEDA will explore additional opportunities to support The Gambia’s Recovery Focused-National Development Plan (RF-NDP) 2023–2027, also known as “YIRIWAA,” a flagship five-year initiative aimed at stimulating the country’s economic growth.

    Professor Benedict Oramah, President of Afreximbank and Chairman of both the Boards of Afreximbank and FEDA commented: “We are delighted to welcome the Republic of The Gambia as the newest member of FEDA. This accession enhances our collective efforts to drive economic growth in the country, building on the momentum created by Afreximbank’s investments in the country over the past few years. We look forward to further collaborations aimed at unlocking new opportunities for partnership and growth.”

    Marlène Ngoyi, CEO of FEDA, said: “We are thrilled to have The Republic of The Gambia join the Fund for Export Development in Africa (FEDA). Our recent investment in the Gambia’s financial services sector reflects our commitment to supporting the country’s five-year development plan. We are excited to collaborate with the country’s stakeholders to drive sustainable growth and explore opportunities that align with its development goals. Together, we can build a stronger, more resilient economy for the future.”

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: LCQ3: Helping enterprises tide over difficulties

    Source: Hong Kong Government special administrative region

         Following is a question by Professor the Hon Priscilla Leung and a reply by the Acting Secretary for Commerce and Economic Development, Dr Bernard Chan, in the Legislative Council today (November 6):
     
    Question:
     
         There are views pointing out that, given the nascent recovery from the epidemic and current volatility in international politics, many enterprises in Hong Kong are still facing huge survival pressure. Results of a survey on the business index for small and medium enterprises (SMEs) published by a statutory body in August this year have indicated that Hong Kong’s overall business index for the third quarter retreated by 4.8 to 42.5, reaching the lowest level since the third quarter of 2022. In this connection, will the Government inform this Council:
     
    (1) as it has been reported that, as pointed out in the survey findings published by a trade association in August this year, nearly half of the SME respondents indicated their difficulty in financing due to the long processing time and cumbersome procedures for the Government’s handling of applications lodged under various funding schemes, how the Government will enhance efficiency in vetting and approving applications under the funding schemes, so as to assist enterprises in financing;
     
    (2) whether it has reviewed if various financial regulators and statutory bodies (e.g. the Hong Kong Monetary Authority and the Insurance Authority) have aligned with the Government’s general direction of providing assistance and room for survival for those enterprises at risk of closure but with a chance to survive, thereby ensuring their survival; if it has reviewed and the outcome is in the affirmative, of the details; if the outcome is in the negative, the reasons for that; and
     
    (3) whether the Government and the statutory bodies concerned will review the existing disciplinary policies for certain industries in response to prevailing trends and circumstances, e.g. deferring the takeover of insolvent enterprises; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         The Government is dedicated to providing a reliable and business-friendly environment and support for enterprises to grow healthily. Having regard to the economic situation and needs of the trade, the Government has also from time to time enhanced various measures to assist enterprises (especially small and medium enterprises (SMEs)) in developing markets and addressing various challenges.
     
         Stepping into 2024, the global market situation remains unstable. Alongside the strength of the Hong Kong dollar and change in consumption patterns of visitors and the local public, the pace of recovery is uneven across different sectors. To this end, the Chief Executive announced in the 2024 Policy Address eight measures to assist SMEs in addressing the challenges often encountered during economic restructuring, including, under the SME Financing Guarantee Scheme, launching again the principal moratorium, extending the maximum loan guarantee periods of the 80% and 90% guarantee products to 10 years and eight years respectively, and offering partial principal repayment options to new loans under the two guarantee products, so as to alleviate the repayment burden on SMEs; injecting $1 billion into the Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund) to assist SMEs in upgrading their business operations and developing new markets; expanding the scope of Cyberport’s Digital Transformation Support Pilot Programme (DTSPP); strengthening brand development of SMEs; and enhancing the services of the Hong Kong Design Centre and incentives for recurrent exhibitions, with a view to alleviating the operating pressure of SMEs and helping them further expand businesses.
     
         Besides, the Policy Address has emphasised the promotion of the development of new quality productive forces, including encouraging enterprises to grasp the opportunities brought about by electronic commerce, developing the low-altitude economy, expanding the silver market, as well as fostering trading of liquor, thereby creating more business opportunities for SMEs.
     
         Having consulted the Financial Services and the Treasury Bureau, the Innovation, Technology and Industry Bureau, the Hong Kong Monetary Authority (HKMA) and the Insurance Authority (IA), the consolidated reply to the various parts of the question is as follows:
     
         Regarding the Government’s funding schemes, bureaux have been reviewing and enhancing their operations, including expediting the application process. Taking the BUD Fund as an example, to facilitate enterprises’ application submission, we have simplified the application form, redesigned the webpage to provide graphic illustration of the application process, application tips and success stories, etc. We have also allowed online submission of applications and project reports by applicant enterprises. The “Easy BUD” launched in June 2023 further assists applicants in preparing applications and implementing projects with a funding amount of $100,000 or below, and shortened the target processing time by half to within 30 working days, thereby helping SMEs expand their businesses swiftly.
     
         Besides, since this year we have included new functions and information on the webpage of the SME Export Marketing Fund to facilitate online submission of supporting documents and information by applicant enterprises and expedite the application process.
     
         As regards the DTSPP, Cyberport has set up a dedicated website to assist SMEs in selecting off-the-shelf basic digital solutions, and is continuously enhancing the efficiency for processing applications, thereby expediting approval procedures.
     
         On the issue of financing, the Government has been paying close attention to SME lending. Among others, since the establishment of the Banking Sector SME Lending Coordination Mechanism (Mechanism) by the HKMA and the banking sector in 2019, several rounds of measures have been introduced to support SMEs, including the Pre-approved Principal Payment Holiday Scheme, deferment of repayment period and conversion of trade financing lines into temporary overdraft facilities. Noting that some SMEs are still facing challenges in their business operations, the HKMA together with the Mechanism introduced nine SME support measures in March 2024. These include banks’ undertaking to follow the HKMA guidance not to demand early repayments from borrowers who continue to make mortgage payments on schedule; banks will take into account a range of factors such as the borrowing enterprise’s credit position and repayment ability when performing periodic credit reviews. In the first six months since the launch of the nine support measures, a total of around 20 000 SMEs had benefitted, involving an aggregate credit limit of over $44 billion.
     
         In August 2024, the HKMA and the Hong Kong Association of Banks jointly established the Taskforce on SME Lending to further strengthen the work for supporting SMEs’ access to bank financing at both the individual case and the sector levels. The HKMA and the banking sector introduced five new measures in October 2024, including the release of bank capital to facilitate the financing needs of SMEs and setting aside a total of over $370 billion of dedicated funds to support SMEs.
     
         The HKMA has also required banks to be sympathetic and offer suitable credit relief to borrowing enterprises which face genuine repayment difficulties under the overarching principle of prudent risk-management principles.
     
         Since banks must maintain effective risk management to safeguard depositors’ interest, for certain loan cases where there are no improvements despite relief or restructuring arrangements, while banks will inevitably have to manage these cases as appropriate, they should ensure that communication with customers be conducted in an accommodative manner.
     
         As for the insurance sector, the principal statutory functions of the IA are to protect existing and potential policyholders, maintain the overall market stability, and promote the global competitiveness of Hong Kong’s insurance industry. In the daily work of the IA, if an authorised insurer faces short term operational challenges, the IA would seek ways to help it overcome the difficulties in a pragmatic manner. If there is severe contravention of legal requirements, the IA will take decisive interventions to prevent policyholders’ interests from being jeopardised.
     
         The Government and the financial regulators will continue to maintain communication with the banking industry and the commercial sector so as to understand the financing needs of SMEs, and to work in concerted efforts to support their continuous development, upgrading and transformation.

    MIL OSI Asia Pacific News –