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  • MIL-OSI China: China reimburses expenses for assisted reproduction to boost birth support

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

    BEIJING, Oct. 30 — The majority of Chinese localities, including 27 provincial-level regions on the mainland, have added assisted reproduction services into the scope of medical insurance reimbursement, the National Healthcare Security Administration said on Wednesday.

    The remaining four provincial-regions on the mainland have also announced expedited measures to catch up on the issue, according to the administration.

    Assisted reproduction normally refers to the use of technologies such as artificial insemination and test-tube fertilization to help couples suffering from infertility or family genetic diseases conceive and give birth to healthy newborns.

    On Oct. 28, China’s State Council issued a directive outlining 13 targeted measures to enhance childbirth support services, expand child care systems, strengthen support in education, housing and employment, and foster a birth-friendly social atmosphere.

    Notably, suitable labor-pain relief and assisted reproductive technology services will be added to the list of services that qualify for medical insurance reimbursement, according to the document.

    MIL OSI China News –

  • MIL-OSI China: China publishes world’s first international standard for stem cell data

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

    BEIJING, Oct. 30 — The world’s first international standard for stem cell data, ISO8472-1, has been officially released, the Institute of Zoology of the Chinese Academy of Sciences said Wednesday.

    This standard is expected to enhance global stem cell data management and make contributions to the advancement of stem cell research and applications, according to the institute.

    As biotechnology advances rapidly worldwide, stem cell data is proliferating. However, the lack of international standards for stem cell data has resulted in issues such as unregulated data management and low efficiency in data sharing and application.

    ISO8472-1, co-formulated by experts from China, Japan, the Republic of Korea, Germany, the United Kingdom, the United States, France, and other countries, stipulates a framework for the interoperability of stem cell data. It is applicable to related databases, data management systems, web interfaces, and more in the field of stem cell research.

    The release of ISO8472-1 will provide standard and guidance for data management in the field of stem cells and offer a systematic framework for the development of subsequent international standards for stem cell data, said Qiao Gexia, director of the Institute of Zoology.

    MIL OSI China News –

  • MIL-OSI China: China activates emergency response as super typhoon nears

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

    BEIJING, Oct. 30 — China’s State Flood Control and Drought Relief Headquarters launched a Level-IV emergency response on Wednesday to flooding and typhoons in the coastal province of Zhejiang as Super Typhoon Kong-rey approaches.

    Kong-rey is forecast to bring torrential rain to parts of Fujian Province, Zhejiang Province, Shanghai and Jiangsu Province from Wednesday to Friday, with Zhejiang to be hit hard.

    The headquarters also maintained a Level-IV emergency response to flooding and typhoons in Hainan Province and Fujian Province.

    The Ministry of Emergency Management has deployed more than 4,100 rescuers. It also urged local authorities to take solid steps to brace for the super typhoon.

    MIL OSI China News –

  • MIL-OSI New Zealand: Breast screening age extension begins in Nelson Marlborough

    Source: New Zealand Government

    Free breast screening has been extended for 70 to 74-year-old women living in the Nelson Marlborough district, ahead of a national roll-out late next year, Health Minister Dr Shane Reti announced today.

    “Breast cancer is the most common cancer in New Zealand with about 3,400 women diagnosed with the disease each year,” says Dr Reti. 

    “The aim of breast screening is to find breast cancers early – before there are any noticeable symptoms.  

    “Women who participate in the BreastScreen Aotearoa programme are 34 per cent less likely to die from breast cancer. 

    “That’s why earlier this year I announced that the Government would extend breast cancer screening to women aged 70-74 – a commitment reinforced through Budget 2024, which delivered $31.2 million for this initiative.

    “It’s a real pleasure to be in Nelson, on the last day of Breast Cancer Awareness month, to celebrate a significant milestone in the extension of our free breast screening programme – the start of the roll out here in the Nelson Marlborough district.”

    Over the next five years, women will continue to be eligible, while living in Nelson Marlborough, for screening at sites in district until they turn 75, before a roll out across the country from October 2025. 

    “Extending breast screening to an approximately 60,000 additional eligible women per year takes an immense amount of planning, including investment in workforce and physical infrastructure,” says Dr Reti.  

    “I thank everyone involved for their efforts and look forward to seeing this programme rolled out nationwide. The extension will potentially save 22 lives per year. We will also be looking to improve the outcomes for women like the more than 60 New Zealanders who succumbed in this age group in 2019.

    “The extension of breast screening to 70 to 74-year-olds is only one initiative the Government has introduced to provide New Zealanders with better cancer care. 

    “As a Government, we’ve already made a number of other advancements such as: 

    • Introducing a target for faster cancer treatment
    • Increasing access to PET-CT scanning, which is particularly helpful for diagnosis of prostate cancer
    • Expanding access to life-extending cancer medicines through our transformative investment in Pharmac
    • Building a new cancer radiotherapy machine at Whangārei Hospital, so 520 Northlanders a year will no longer have to travel to Auckland for treatment
    • Boosting the National Travel Assistance scheme by $18 million per year for those that need to travel for treatment. 

    “The Government is committed to improving outcomes for the thousands of Kiwis and their families affected by cancer every year.”

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Upgraded Woden library to reopen 18 November

    Source: Government of Australia Capital Territory

    On 13 September 2024, the ACT Government assumed a caretaker role, with an election to be held 19 October 2024. Information on this website will be published in accordance with the Guidance on Caretaker Conventions until after the election and conclusion of the caretaker period.

    Released 31/10/2024

    Woden library will reopen at 10am on Monday 18 November 2024 following upgrade works.

    The library was temporarily closed in May 2024 due to the significance of the upgrade works. The range of upgrades included:

    • replacing the heating and air conditioning system
    • renovating the ground floor bathroom
    • new LED lighting
    • roof repairs and other improvements.

    We thank the community for their patience as these important works were completed.

    A pop-up library at 26 Corinna Street in Phillip has been open during the closure.

    The reading room, public PCs, children’s room and community rooms at the pop-up library will be closed from 5.30pm on Wednesday 13 November 2024. The pop-up library will remain open on Thursday 14 and Friday 15 November 2024, between 10am and 5.30pm, to allow community members to return items and collect reservations. The pop-up library will permanently close at 5.30pm on Friday 15 November 2024.

    On Saturday 16 and Sunday 17 November 2024 reservations ready for collection will be held and will be available at the Woden library for collection from Monday 18 November 2024. During this time, we encourage you to access the digital resources available with your Libraries ACT membership.

    The return chute at Woden library will be open and you can return items 24/7. You can now also make bookings for community room hire at Woden library, including for the HIVE, from Monday 18 November 2024.

    A range of events and activities are scheduled at the Woden library when it reopens. These include drag story time, giggly wiggly balloon story time with Chloe Lim and an ACT Book of the Year author talk panel. For more information on the reopening and the events planned visit the Libraries ACT website at www.library.act.gov.au.

    – Statement ends –

    ACT Transport Canberra and City Services Directorate | Media Releases

    Media Contacts

    «ACT Government Media Releases | «Directorate Media Releases

    MIL OSI News –

  • MIL-OSI USA: Suzy DiMont Works at the Intersection of Research and Action

    Source: US National Renewable Energy Laboratory

    Distinguished Member of Operations Staff Is Busy Making the World a Better Place

    Suzy DiMont is a force to be reckoned with.

    Suzy DiMont. Photo by Werner Slocum, NREL 

    Since she was hired at the National Renewable Energy Laboratory (NREL) in 2014, the Energy and Sustainability manager has evolved from an intern to a program manager and integral member of the Women’s Network Employee Resource Group (ERG). On the Intelligent Campus team, she is involved with all things sustainability, including the annual commuter survey, Site Sustainability Plan, and climate resilience planning and was also a key contributor to the NREL Smart Labs initiative, which NREL uses to meet sustainability goals.

    DiMont is actively engaged in her community and is always looking for ways to give back. Annually, she participates in the Bike MS NREL team ride to raise funds for multiple sclerosis (MS) research. As a member of the Women’s Network, she regularly mentors NREL peers and helps enable pathways for the professional advancement of women.

    Earlier this year, DiMont was named a Distinguished Member of Operations Staff for her “dedication to advancing NREL’s mission and making meaningful strides toward a sustainable and clean energy future.” As a member of the Intelligent Campus Program, she is the primary point of contact with the U.S. Department of Energy’s Golden Field Office and manages NREL’s electric vehicle supply equipment rollout and cost recovery program and NREL’s energy and water utility billing.

    When asked if she ever gets time to rest amid numerous projects, leadership roles, and community engagement activities, DiMont responded, “I do rest, I do rest. Well, I have a toddler now, so I don’t rest.”

    Then, always finding a way to make others shine, DiMont said, “It’s not just me doing it. I couldn’t do it by myself. I work with a lot of really great people all over the lab.”

    During her decade at the laboratory, DiMont has collaborated with diverse groups across NREL and is constantly getting involved with new projects related to sustainability. Although this line of work may seem custom fit, her path from student to educator to engineer to Sustainability manager was far from linear.

    Suzy DiMont, husband Neil, and Kosol Kiatreungwattana on their first Bike MS Ride. Photo by Suzy DiMont, NREL 

    A Lifelong Love for Learning

    As a child, DiMont did not long to settle into a perfect career. Instead, her innate curiosity sparked a desire to learn and participate in as many activities as possible.  

    “I don’t know if I ever really had a dream that I wanted to work,” DiMont said. “I always had a dream that I wanted to learn. I really liked school, I liked all topics, I liked everything. Math, reading, art, history, science—I wanted to do all of it.”

    DiMont’s desire to be a well-rounded learner drew her to a liberal arts education at Hamilton College in New York.

    At Hamilton, she explored a variety of majors—psychology, art, French, and archeology—before landing on anthropology and mathematics.

    Her first job after college was teaching math at the Solebury Boarding School in Pennsylvania. The role was intimidating because, although DiMont was a lifelong learner, she had no practice developing formal lesson plans for grade schoolers. She learned how to write tests that were appropriately challenging for students and experienced the joys of being a dorm mom for the girls on campus. DiMont also realized teaching was not her calling.

    After leaving Solebury, DiMont joined AmeriCorps, an independent U.S. government agency focused on service and volunteerism, and began working for the “I Have a Dream” Foundation. DiMont worked with students at under-resourced schools on dropout prevention and helped the students, known as “dreamers,” realize their aspirations and connected them with support.

    One of DiMont’s former dreamers, Anakary Valenzuela, is now a business support administrative associate for NREL’s Mechanical and Thermal Engineering Sciences (MTES) directorate. She remembers meeting DiMont as a sophomore at Centaurus High School in Lafayette, Colorado.

    Valenzuela had been a dreamer since second grade and was all too familiar with the influx of AmeriCorps members who served for a year then moved onto the next opportunity. DiMont was different. She stayed with the program for three years—long enough to see the cohort of students graduate high school—and she took a genuine interest in the lives of students she mentored.

    When Anakary Valenzuela was a student, the “I Have a Dream” Foundation hosted an event to celebrate high school graduation. Photo from Casie Zalud Photography

    “She was the best AmeriCorp we ever had,” Valenzuela said. “I would go to her for advice. She would mentor me. [She was] my counselor, my friend. She would always stay extra hours to talk to us if it had to do with homework or college prep or advising us on what type of college we should go to or major [we should declare]. And then she would drive us home.”

    Their friendship extended well beyond Valenzuela’s high school graduation as DiMont informally mentored Valenzuela throughout college and encouraged her to apply at NREL. After Valenzuela was hired, DiMont encouraged her to get involved with the Women’s Network and Hispanic and Latinx Alliance and invited her to ERG meetings and dinners to make friends and build her network.

    “She inspires me to do more. I feel like I am part of her family,” Valenzuela said. “I can always count on her, she’s always been there. I don’t know how she does everything, but I’m so grateful that we crossed paths in this lifetime.”

    From Educator to Engineer

    During her three years with AmeriCorps, DiMont realized she could pursue her dual loves for mathematics and community engagement with a career in engineering. Working with low-income students exposed disparities in the lack of access to civil infrastructure. She saw engineering as a way to make infrastructure and transportation equitable for all.

    DiMont enrolled in the Engineering and Developing Communities graduate program at the University of Colorado (CU) Boulder. DiMont got involved in the Renewable and Sustainable Energy Institute, known as the RASEI program, now a joint program between NREL and CU Boulder.

    The university was DiMont’s introduction to NREL, via one of the laboratory’s vocal supporters: former NREL research technician Marc Landry.

    “What an incredible human,” DiMont said. “He would not stop talking about NREL and what a wonderful place it was … an unbelievable mind.”

    During one of the first events DiMont attended as an intern in 2014, Xcel Energy awarded NREL the Self-Direct Achievement Award. Photo from Suzy DiMont, NREL 

    During graduate school, DiMont pondered a career in international development work. She and her then boyfriend, now husband, traveled to Bolivia with a South Dakota Engineers Without Borders program to participate in a water development project. Although the work was important, she felt it was better to stay in Boulder.

    “To do international development work well, you have to be part of that community, and you have to invest in that community and spend time there and be there,” DiMont said. “You can’t just swoop in with technology. It’s not kind; it’s not effective.”

    After hearing Landry sing NREL’s praises for so many years, DiMont decided to apply for a sustainability internship at NREL.

    ‘Sustainability Is a Marathon, not a Sprint’

    As DiMont evolved from an intern into her current role, much of her work folded into the Intelligent Campus program, which leverages NREL campuses to advance research and achieve operational excellence by deploying cutting-edge control and analytics technology. Or in DiMont’s words, her job “sits at the intersection of research and making things happen.”

    She focuses on creating programs and strategies to implement changes regarding energy efficiency, the kind of energy NREL uses, and getting to net zero. However, DiMont acknowledged that “sustainability is a marathon, not a sprint.” For NREL to achieve its sustainability goals, the right folks—including researchers, subject matter experts, communicators, and technicians—need to come together and stay excited about work ahead.

    “A lot of what we do won’t have an impact for a while. That’s why it’s important to keep a generational lens,” DiMont said. “It’s not always easy, but having a great team makes it possible. They can commiserate with you, they support you, they back you up.”

    The NREL Waste Reduction and Pollution Prevention Team was recognized for a DOE Sustainability Award in 2016. Right to left: Ali Mohagheghi, Kenneth Proc, Kevin Donovan, Ellen Fortier, Laura Justice, Nancy Stovall, Laurie Snyder, Suzy DiMont and Susan Chadwick. Photo by Dennis Schroeder, NREL

    Making the World a Better Place for All

    When it comes to making the world a better place, for DiMont, that starts with making NREL a better place. As an early member of the Women’s Network, Suzy advocates for diversity in STEM (science, technology, engineering, and mathematics). The Women’s Network is one of NREL’s 11 ERGs and provides a platform for promoting women in leadership and the workforce.

    “I think the Women’s Network is so important, because there is still, especially in research in STEM, so much discrimination against women, people of color, women with intersectional identities, folks that are marginalized in some way,” DiMont said.

    For many, the biggest hurdle is staying in a career field if you see few people who look like you or share your experiences.

    “It’s a huge loss, because these are the fields where we need a diversity of thought, people that don’t see the world the same way, that think about problems differently, people that lead differently,” DiMont said. “You need that diversity in a field where you’re looking for innovation and new things. To reach everyone on the planet, you must have that diversity to be successful.”

    During her tenure at NREL, DiMont has witnessed major changes in the ways NREL promotes diversity, equity, and inclusion and credits much of this change to NREL’s women in leadership, such as Bobi Garrett, NREL’s former chief operating officer, and Julie Baker, deputy laboratory director for Laboratory Operations.

    Suzy DiMont and her child Sebastian. Photo from Suzy DiMont, NREL

    “It’s incredible to be around these powerful women,” DiMont said. “It’s very inspiring.”

    As a mother, DiMont wants to make the world a better place for her child. Living in a world impacted by climate change causes many to feel anxious and depressed about the future. For DiMont, knowing that humans caused climate change means humans are also part of the solution. She hopes to impart this optimism onto the next generation.

    “I want my child to live in a world where he sees engineers and expects them to be women,” DiMont said. “I want him to feel like he has agency and can be part of these solutions.”

    It is a lot of work and the job is not easy, but for DiMont, making the world better for the next generation is what it is all about.

    “When do I rest?” DiMont asked. “I’ve got this time to do what I can do with it. I put in my energy when I can, then I unplug. I unplug and put my energy in other places. It’s just about being present for the things you are doing in that moment.”  

    Learn more about NREL’s commitments to sustainability and resilience.

    MIL OSI USA News –

  • MIL-OSI USA: Enhancing the customer-centricity of GSA websites

    Source: US Government research organizations

    Designing an evaluation process

    The public evaluates our mission and services primarily through online interactions. In 2021, GSA’s Service Design program in the Office of Customer Experience launched a strategy to enhance our customers’ digital experience. Building upon our case study on composite indicators, we asked ourselves: How do we define compliance? How do we measure it in a consistent way? This led us to a critical prompt: How do we get these wildly different websites to behave in ways customers expect, while aligning to federal policy and law?

    Our objective was clear. We needed to design an evaluation process that captured qualitative and quantitative data to help us determine which websites needed improvement.

    Over the next three years, we launched a series of digital analytics tools, successfully inventoried over 180 public-facing websites, and interviewed close to 90 website managers to gain a clear understanding of our agency’s digital portfolio. We also produced over 160 recommendations reports (one for each website we evaluated), to help each web team improve digital experience and increase compliance with federal web policies. We learned strategies to integrate both qualitative and quantitative data, ensuring our transformation process remains tightly aligned with our customers’ needs.

    Customer-centricity, also known as the understanding of customer needs and expectations, became the central theme of our website evaluation project. Using a combination of quantitative and qualitative approaches, we created a holistic view of each website’s performance and compliance. Furthermore, our team designed the Enterprise Digital Experience Index to improve the customer-centricity of GSA’s websites, and ground our work in GSA strategic goals and federal web policy, including the requirements for delivering a digital-first public experience.

    The index uses qualitative and quantitative measures to determine whether sites are well-managed, and meet customer needs and agency mission. Our team leveraged a series of free, accessible digital analytics tools to evaluate the quantitative side. We also met with every website team in GSA to gather qualitative customer-centricity data.

    Whale Design/iStock via Getty Images

    The qualitative component of the index uses human-centered design interviews that have been compiled into evaluation documents. These evaluations identify such things as opportunities for additional coaching, sites that are not properly resourced to meet customer needs, and candidates for website modernization or decommissioning. We assessed each web team’s ability to identify their primary audience, site purpose, whether they used repeatable customer feedback mechanisms, and whether they took action based on customer feedback. Additionally, we evaluated whether teams possessed the necessary skills to improve their websites, and whether they used robust methodologies (in addition to Digital Analytics Program data) to measure the impact of these improvements.

    The quantitative component analyzed the website’s accessibility, performance and search engine optimization, user behavior, U.S. Web Design System (USWDS) usage, and presence of required links. We designed a Google Chrome extension for our agency, curated from free and accessible analytics tools such as:

    • Site Scanner and custom crawlers: These tools help us evaluate compliance with agency-determined performance indicators, including the presence of certain USWDS components, and required links (FOIA, accessibility statement, privacy policy, etc.).
    • Digital Analytics Program (DAP): Integrated with Google Analytics, DAP offers a broad view of how users interact with the website, identifying such things as the top referring and outbound sites, page load times, and bounce rates.
    • Google Lighthouse: Assesses performance, search engine optimization, accessibility, and mobile optimization, and provides actionable insights to enhance site performance.
    • Accessibility testing: GSA has acquired and adopted a standard accessibility testing tool to help our web teams assess conformance with Section 508 standards. We scan for accessibility issues, focusing on critical metrics such as keyboard accessibility and alt text for images.

    Tightening up digital experience

    Sharing the data generated by these tools, along with appropriate context to help our teams understand the meaning of the data, led to significant improvements in website management and user experience.

    In the first year of the project, we implemented a digital registry that streamlined the data collection process. Within one month, 100% of our teams had participated and registered their sites — a stark improvement from the previous year’s 70% input rate.

    In the second year, we identified a responsible manager for 100% of our websites and partnered with GSA’s Office of Human Resources to develop a 3-part training series to orient people to the expectations and requirements of this role. This effort was based largely on what we learned through our qualitative analysis and has proven transformative for our agency. The management chain for each digital property is now visible at the enterprise level, and each website manager has a strong foundation in digital property management, in alignment with federal requirements and agency best practices. This project also inspired us to contribute to the design and launch of a new enterprise tool to display critical information about each GSA website, including linking each website to common service categories or themes. This helps our web teams gain a holistic perspective of their website and its role in the broader digital experience we offer GSA customers.

    In year three, we piloted annual website self-assessments via our Digital Lifecycle Program which provides a framework for website management at GSA. This program provides implementation guidance to comply with over 100+ federal requirements and is a roadmap launching and managing websites, and assessing how we invest in our digital portfolio.

    Over the course of this work, we discovered teams that hadn’t assessed the impact of their website on business operations and customer experience, and we identified several outdated products. These teams needed guidance on how to decommission websites that no longer served the public or supported agency mission. In 2024, we developed and published a decommissioning guide.

    Through the Digital Lifecycle Program, our agency has reduced our digital portfolio by over 35%, resulting in huge cost savings for the agency, and a better digital experience for our customers. This demonstrates that our collaborative approach to advancing information technology strategies and continually improving our customers’ digital experience is working.

    Embracing digital transformation

    As GSA leadership continues to refine our agency vision for customer-centric digital service delivery, we can all demonstrate commitment through actions and resource allocation. Integrating both qualitative and quantitative data ensures our transformation process is tightly aligned with our customers’ needs, and positions GSA as a leader in customer centricity and digital excellence.

    What can I do next?

    Review an introduction to analytics to learn how metrics and data can improve understanding of how people use your website.

    You can also join the Digital.gov Web Analytics Community of Practice to connect with government web practitioners who are working to share and make better, data-informed decisions using web analytics and other optimization strategies.

    If you work at a U.S. federal government agency, and would like to learn more about this work, reach out to GSA’s Service Design team at customerexperience@gsa.gov.

    Disclaimer: All references to specific brands, products, and/or companies are used only for illustrative purposes and do not imply endorsement by the U.S. federal government or any federal government agency.

    MIL OSI USA News –

  • MIL-OSI: M&G ENT USA’s Photo Booth “Momentura” Begins Full-Scale Entry into the North American Photo Booth Market

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, CA, Oct. 30, 2024 (GLOBE NEWSWIRE) — M&G ENT USA, the U.S. branch of M&G ENT Co., Ltd., a specialized manufacturer of smart education and ICT equipment for business use, will officially enter the North American market, starting with the 2024 photo booth business presentation to be held at The One event hall in LA on Tuesday, November 5, at 5 PM.

    M&G ENT Co., Ltd. manufactures and supplies projectors and electronic whiteboards to major Korean video equipment companies and educational institutions. To enter the North American market, the company established branches on the East Coast (Boston) and West Coast (LA) of the U.S., a first for the industry, during the second half of last year.

    M&G ENT’s Momentura is a brand that is derived from the Latin word meaning “moment.” the Momentura photo booth is equipped with a high-performance DSLR and a dedicated photo printer, producing high-quality photos in a short time compared to photo booths currently available in the North American market. It has the ability to move the camera vertically to accommodate diverse user audiences, as well as the ability to freely apply filters and stickers to the images taken. The photo booth also is equipped with AR features such as caricatures, as well as regular frame cuts, ID photo features, and the function to print images saved on your phone. Moreover, it incorporates Korean-style designs based on K-culture that resonate with younger generations. Momentura also provides a customizable service for the exterior and frames to fit various installation settings, which has been gaining traction amongst users.

    Notably, at the ISTE Live 2024 International Education Exhibition held in Denver, Colorado, in June, M&G ENT unveiled a modular photo booth, specialized for rental services. The particular model is convenient for transportation and storage and ideal for use at events hosted by schools and public institutions. This received enthusiastic responses from education institution representatives.

    Sungju An, CEO of M&G ENT, announced that through the Los Angeles business presentation, they plan to recruit dealers and agents across the U.S., while showcasing the actual products. They aim to provide differentiated services such as sales, delivery, and after-sales support through local branches and distribution networks. By introducing various products into the market, they hope to create new business opportunities that offer a win-win situation for both partners, and expand the photo booth business to the global market.

    The 2024 photo booth business presentation schedule is as follows:

    • Date: Tuesday, November 5, 2024, 5:00 PM – 8:00 PM
    • Venue: The One Event Hall 5F, 3680 Wilshire Blvd, Los Angeles, CA 90010
    • Inquiries (English): 949) 351-7194
    • Inquiries (Korean): 949) 351-7055
    • Email: contact@momentura.us

    Media Contact

    Brand: M&G ENT USA

    Contact: Somin An

    Email: contact@momentura.us

    Phone: +1 949 351 7194(English) / +1 949 351 7055(Korean)

    Website: https://www.momentura.us

    The MIL Network –

  • MIL-OSI Banking: The 28th ASEAN Labour Ministers’ Meeting convenes in Singapore

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, participated in the 28th ASEAN Labour Ministers’ Meeting (ALMM) held in Singapore. Held under the theme “Strengthening Resilience and Promoting Innovation,” the Meeting exchanged views, reviewed the progress of the ASEAN Labour Ministers’ Work Programme 2021-2025 as well as deliberated on priorities for the post-2025 cooperation on labour. Singapore assumed the ALMM Chairmanship for 2024-2026. The Meeting was attended by ASEAN Member States, with Timor-Leste joined as observer.

    The post The 28th ASEAN Labour Ministers’ Meeting convenes in Singapore appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI USA: October 29th, 2024 N.M. Delegation Welcomes Over $4 Million From the Infrastructure Law to Enhance Safety, Reduce Delays at Railway Crossings, and Grow Local Economies in Clovis and San Juan County

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich

    ALBUQUERQUE, N.M. – U.S. Senators Martin Heinrich (D-N.M.) and Ben Ray Luján (D-N.M.), and U.S. Representatives Teresa Leger Fernández (D-N.M.), Melanie Stansbury (D-N.M.), and Gabe Vasquez (D-N.M.) welcomed a combined $4,570,920 for two projects in New Mexico from the U.S. Department of Transportation to strengthen the nation’s supply chain, reduce costs, and grow New Mexico’s economy. 

    $4,000,000 will help San Juan County and the Navajo Nation complete the planning for a proposed freight rail line connecting Farmington and Gallup. 

    $570,920 will help the City of Clovis enhance safety and reduce traffic delays at two railway crossings.

    “Thanks to our Infrastructure Law, we’re delivering the funds needed to kick-start planning for a freight rail line from Farmington to Gallup and improve railway crossings in Clovis. Combined, these investments will strengthen our nation’s supply chain, grow local economies, lower transportation costs, create high-quality jobs New Mexicans can build their families around, and improve safety for our communities,” said Heinrich. “I’m pleased to welcome these federal investments, and I remain committed to securing more investments to connect rural communities to the abundant opportunities ahead.”

    “Across our state, New Mexicans rely daily on our railways for travel and to keep our economy running,” said Luján. “Thanks to the Bipartisan Infrastructure Law, this $4.5+ million in federal funding will deliver much-needed railway safety enhancements in Clovis and help construct a new rail line within the Navajo Nation to expand regional rail service in Northwestern New Mexico. I’m proud to welcome these two grants that will both boost railway service and drive economic development for Clovis, the Navajo Nation, and their surrounding communities. I will continue to fight to bring federal dollars home to New Mexico to improve the safety, efficiency, and reliability of passenger and freight rail.”

    “Every time I go to the Four Corners, local leaders emphasize the importance of connecting the region with rail. The Four Corners area is a major economic center of our state, and the funding we’re announcing today is the beginning of our work to make sure our rail infrastructure is ready to meet that potential across San Juan and McKinley Counties,” said Leger Fernández. “I am happy that this funding also includes improvements to safety and efficiency of freight in Clovis. With the support of the CRISI program, we can begin the critical work needed to build stronger connections and drive growth in rural New Mexico.”

    “I am thrilled about the recent allocation of two significant federal grants from the Federal Railroad Administration’s CRISI program, which will greatly enhance rail safety and connectivity in New Mexico,” said Stansbury. “These two grants reflect our commitment to investing in infrastructure prioritizing safety and economic growth. I am grateful for the support from the Federal Railroad Administration and look forward to seeing these projects come to fruition as we work together to build a safer New Mexico!”

    “Federal investments like this bring vital safety and economic benefits to communities across New Mexico. With this funding, we’re improving railway safety, cutting down delays, and connecting New Mexicans to opportunities that drive economic growth and quality jobs,” said Vasquez. “Thanks to the Bipartisan Infrastructure Law, we are building a stronger, safer transportation network. I’m proud to welcome this funding to bring more jobs and opportunities to our rural communities.”

    “The award of grant funding takes a prospective freight rail line study further than any study in the past and is further proof of the importance of collaboration between tribal, local, state, and federal partners to open doors to economic opportunities. We are appreciative of assistance from New Mexico’s federal delegation and excited for future economic growth opportunities in San Juan County and the Four Corners region,” said John T. Beckstead, San Juan County Commission Chairman.

    “The Federal CRISI Grant brings San Juan County and the City of Farmington one step closer to having competitive transportation and economic development. This is an important step in growing our regional economy,” said Tim Gibbs, Four Corner Economic Development CEO.

    The grants are awarded through the U.S. Department of Transportation Federal Railroad Administration’s Consolidated Rail Infrastructure and Safety Improvements (CRISI) Program, which provides funding for projects that improve the safety, efficiency, and reliability of intercity passenger and freight rail. The CRISI Program received significant, additional investments from the Infrastructure Law – legislation passed by Democrats in the N.M. Congressional Delegation. 

    The N.M. Delegation sent a letter of support to the U.S. Department of Transportation supporting the grant for San Juan County that is being announced today. This grant will prepare the Four Corners Rail Project for final design proposals and planning.

    In May 2020, Heinrich and Luján wrote a letter of support for San Juan County’s application for a Better Utilizing Investments to Leverage Development (BUILD) Grant, which applicants of the CRISI Program are required to be approved for.  

    Members of the N.M. Delegation sent a letter of support to the U.S. Department of Transportation urging the support of the grant for the City of Clovis that is being announced today. This grant will enhance safety and reduce traffic delays at two railway crossings including modifications to the Norris Street railroad crossing and construction of a new grade-separated crossing at MLK Jr. Boulevard.

    Below is a breakdown of the U.S. Department of Transportation Federal Railroad Administration funding:  

    Project Name

    Recipient

    Award Amount

    Project Description

    Clovis, N.M. Corridor Improvement Project

    City of Clovis

    $ 570,920

    The proposed project was selected for Project Development and includes activities for one grade crossing separation and improvements to a second at-grade crossing along the BNSF Railway line in Clovis, New Mexico. The project aligns with the selection criteria by enhancing safety and improving system and service performance as the project will reduce blocked crossings. The City of Clovis and BNSF Railway will contribute the 53 percent non-Federal match. This project qualifies for the statutory set-aside for projects in Rural Areas.

    Four Corners Freight Rail Project

    San Juan County

    $ 4,000,000

    The proposed project was selected for Project Development and includes activities to develop a new rail line to connect the Farmington, New Mexico Area to the BNSF Railway corridor near Gallup across San Juan County and McKinley County, New Mexico. The proposed project is a partnership between San Juan County, the Navajo Nation, and the New Mexico Department of Transportation, and most of the project is located within the Navajo Nation. The project aligns with the selection criteria by enhancing resilience and improving system and service performance as the project will provide a viable freight transportation modal alternative to highway trucking, opportunities to simplify the supply chain, and enable new, rail-dependent economic development opportunities thereby imparting benefits to the Navajo Nation and surrounding communities. San Juan County will contribute the 20 percent non-Federal match. This project qualifies for the statutory set-aside for projects in Rural Areas.

    For more information from San Juan County on the proposed Four Corners Rail Project, please click here. 

    MIL OSI USA News –

  • MIL-OSI USA: October 29th, 2024 Heinrich, Leger Fernández Highlight Over $22 Million to Build a New Terminal at Clovis Regional Airport, Participate in Terminal Groundbreaking Ceremony

    US Senate News:

    Source: United States Senator for New Mexico Martin Heinrich

    PHOTOS/VIDEOS

    CLOVIS, N.M. — Today, U.S. Senator Martin Heinrich (D-N.M.), a member of the Senate Appropriations Committee, and U.S. Representative Teresa Leger Fernández (D-N.M.) participated in a groundbreaking ceremony to begin construction on a new 21,000 square foot terminal at Clovis Regional Airport (CVN). The new terminal at Clovis Regional Airport is fully funded by a $15.7 million grant and a $3.5 million grant from the Infrastructure Law — legislation passed by Democrats in the N.M. Congressional Delegation — and a Heinrich-led $3.5 million Congressionally Directed Spending award that is advancing in the Fiscal Year 2025 Transportation, Housing and Urban Development, and Related Agencies Appropriations Bill that passed out of the Senate Appropriations Committee in July.

    These three investments, totaling $22,700,000, are making it possible for Clovis to complete the new terminal. 

    The terminal at Clovis Regional Airport will better connect the community, improve travelers’ experiences, create high-quality jobs, and grow local economies across New Mexico.

    U.S. Senator Martin Heinrich (D-N.M.) speaks at a groundbreaking ceremony to begin construction on a new terminal at Clovis Regional Airport (CVN), October 29, 2024.

    “When we invest in New Mexico’s airports, we invest in the people who rely on these facilities to do business in our state, create jobs, and contribute to our economy,” said Heinrich. “I am proud to have secured funding from the Infrastructure Law to fully construct Clovis Regional Airport’s new terminal and I will keep fighting to secure more investments to improve airports all across New Mexico — improving travelers’ experiences, creating high quality jobs New Mexicans can build their families around, and driving our state’s economic growth for the future.”

    “Thanks to our work on the Bipartisan Infrastructure Law, this $22 million investment will create good jobs, connect families across the region, and drive economic vitality for communities across eastern New Mexico,” said Leger Fernández. “Today’s groundbreaking at the Clovis Regional Airport gets us closer to connecting eastern New Mexico to new economic opportunities and supporting the region’s growth. This new terminal isn’t just about creating a strong foundation for the future of Clovis — it’s about creating a strong foundation for the future of eastern New Mexico. I also want to thank Senator Heinrich for his leadership as he champions rural projects like this one in the Senate Appropriations Committee.”

    U.S. Senator Martin Heinrich (D-N.M.) and U.S. Representative Teresa Leger Fernández (D-N.M.) participate in a groundbreaking ceremony to begin construction on a new terminal at Clovis Regional Airport (CVN), October 29, 2024.

    The Infrastructure Law is delivering billions of dollars in historic infrastructure investments to New Mexico.    

    The Infrastructure Law is set to invest $4.3 billion in formula funding alone for at least 337 vital projects in New Mexico. Some of the projects and priorities that have already received federal funding from the Infrastructure Law include:   

    • $1.8 billion for New Mexico’s roads and bridges.   
    • $379 million over five years, based on formula funding, for New Mexico’s public transit. To date, New Mexico has been allocated $147.2 million to improve public transportation options across the state in Fiscal Year 2022.    
    • $710 million for clean drinking water in New Mexico.   
    • $362.3 million for infrastructure resilience, including $23.4 million through the Army Corps of Engineers for flood mitigation in New Mexico.   
    • $160 million, the first installment of funding from the Infrastructure Law, to support the completion of the Eastern New Mexico Rural Water System pipeline in Eastern New Mexico. 
    • $3 billion across Indian Country to help Tribes deploy broadband infrastructure.  
    • $52.4 million for capping orphaned oil and gas wells and reclaiming abandoned mine lands and $20.7 million has been allocated to cleaning up Superfund and Brownfield sites across New Mexico.   
    • $38 million over five years, based on formula funding, to support the expansion of an EV charging network in the state.   
    • $74.9 million for clean energy, energy efficiency, and power in New Mexico.   
    • $50 million for airports across New Mexico.   
    • $33 million for clean and low emission buses in New Mexico.   

    The Infrastructure Law is also helping 173,000 New Mexico households save on broadband. For eligibility on internet programs, visit GetInternet.gov. 

    For more information, click here to see a map of funding and announced projects in New Mexico through the Infrastructure Law.  

    Find a fact sheet of the investments New Mexico has received through the Infrastructure Law here.

    MIL OSI USA News –

  • MIL-OSI Banking: Trial Use of a Generative AI-based Demand Forecasting Application to Drive E-commerce Sales Growth in Southeast Asia

    Source: Panasonic

    Headline: Trial Use of a Generative AI-based Demand Forecasting Application to Drive E-commerce Sales Growth in Southeast Asia

    Aiming to expand the direct-to-consumer (D2C) sales of Panasonic products with a focus on home appliances and consumer electronics in Southeast Asian markets, GDX Co., Ltd. (Head Office: Shinagawa-ku, Tokyo, CEO: Jun Horata, hereafter “GDX”) has developed a new application called AI Commerce Series 1 “Demand Forecast” in collaboration with Panasonic Appliances Marketing Asia Pacific (hereafter “PAPMAP”) based in Malaysia and affiliated with Panasonic Corporation (Head Office: Minato-ku, Tokyo, CEO: Masahiro Shinada, hereafter “Panasonic”), and began its trial use in Thailand.
    AI Commerce Series 1 “Demand Forecast” is an application for demand prediction independently developed by GDX to maximize sales and streamline inventory control. Specifically, generative AI selects the scenario best suited for the situation from the predictions generated by AI based on 36 scenarios and outputs various demand forecast data in the format specified by users. PAPMAP has collaborated with GDX in application development to improve the accuracy of demand forecasting for e-commerce sales in Southeast Asia and to develop a user-friendly generative AI-based tool for its marketing staff without AI-related expertise.
    In October 2024, a Panasonic sales company in Thailand (Panasonic Solutions (Thailand) Co., Ltd.) began the trial use of this new application to improve the accuracy of e-commerce sales forecasts for home appliances and consumer electronics. This will enable PAPMAP to predict future demand effortlessly and simply, without reliance on individual expertise, and to incorporate the forecast into product purchase planning by applying generative AI and machine learning to Panasonic’s sales-related data, thereby reducing the loss of sales opportunities. The company will start by expanding e-commerce sales in Thailand.
    By contributing to Panasonic’s e-commerce sales through the use of advanced generative AI technology, GDX aims to open up new possibilities for D2C sales in Southeast Asian markets. PAPMAP will verify the effectiveness and usability of the application through trial use in Thailand and consider broadening the scope of collaboration in e-commerce sales with a view to expanding its use in the rest of Southeast Asia.
    In order to support the DX promotion of brand companies’ entire value chain, GDX plans to establish a series of AI Commerce products as generative AI-based solutions and release them successively.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Kid Witness News (KWN) Global Summit 2024—Announcement of Award Results

    Source: Panasonic

    Headline: Kid Witness News (KWN) Global Summit 2024—Announcement of Award Results

    Participating countries (11 countries)
    Brazil, Cambodia, China, India, Indonesia, Japan, Malaysia, Philippines, United Arab Emirates, United States, Vietnam
    * Presented in alphabetical order* Participants will be able to view a live stream of the summit on the day of the summit.

    MIL OSI Global Banks –

  • MIL-OSI Australia: Senior officer terminated following Professional Standards investigation

    Source: Tasmania Police

    Senior officer terminated following Professional Standards investigation

    Wednesday, 30 October 2024 – 5:00 pm.

    A senior police officer’s employment has been formally terminated following an extensive Professional Standards investigation into internal complaints of sexual misconduct at a Christmas function with colleagues in Hobart in December 2023.
    The officer, an inspector of police, was dismissed under section 30(1) of the Police Service Act 2003, which determines that a commissioned officer can be terminated if the Commissioner does not have confidence in their suitability to continue as a police officer.
    Commissioner Donna Adams said that Tasmania Police was committed to delivering a policing service in line with our Values of Accountability, Integrity, Respect and Support.
    “The Tasmanian community has high expectations of its policing service, and we are entrusted with significant powers to perform our duties to keep people safe. The conduct of every police officer can impact on the community’s confidence in police to deliver this service,” she said.

    MIL OSI News –

  • MIL-OSI Australia: The Pacific and Australasian CRM Developers’ and Facilitators’ Forum 2024 (PACDEFF)

    Source: Australian Civil Aviation Safety Authority

    CASA Director of Aviation Safety Pip Spence discusses flight operations with a focus on safety, including upset prevention and recovery training, combating fatigue, clear communication, pilot mental health, and the importance of continuous education in building a strong safety culture.

    MIL OSI News –

  • MIL-OSI Australia: Minister Rishworth interviewed on Radio National Breakfast with Patricia Karvelas

    Source: Ministers for Social Services

    E&OE TRANSCRIPT

    Topics: COVID-19 pandemic; COVID inquiry report; Australian Centre for Disease Control; PLACE announcement; Qantas flight upgrades.

    PATRICIA KARVELAS, HOST: What would you do if Australia faced another global pandemic and you were again asked to make big sacrifices in the name of public health? A major review of Australia’s handling of the COVID-19 pandemic has found many people will be less accommodating of those requests in the future, while warning another pandemic is likely to happen in our lifetimes. Now, the Government says a new disease control centre will help restore public trust. We’re going to be joined now by Amanda Rishworth, who is the Minister for Social Services. She’s going to talk to us about this and another scheme the Government’s announcing today. Welcome to the programme, Minister.

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

    PATRICIA KARVELAS: The COVID inquiry found mistakes were made, but overall, Australia was one of the most successful countries in its pandemic response. Do you think history will give the Morrison Government more credit?

    AMANDA RISHWORTH: Well, look, I think really what this review tried to do is identify what can we do better next time and what actually worked. And so the report’s been very useful in that. But what really, I think, came out of the report is we need to be better prepared in the future. I think that was one of the really key findings. How do we get in a position where we are better prepared to respond to something like that in the future? And I think in terms of key learnings of this report, I think that is one of the key learnings, that we need to be prepared for what may come next.

    PATRICIA KARVELAS: You’ve promised to fund an Australian Centre for Disease Control, and you say it will restore public trust, but will that be enough?

    AMANDA RISHWORTH: Well, look, the public trust issue is a very concerning element of this report. If you remember back to that time during COVID you know, people were very compliant. But I think one of the elements is that this Centre for Disease Control will be independent, but I think importantly, it will be much more responsive and transparent with the evidence. I think that is one of the things coming out of this report that really talked about how do we make sure that the health data, the evidence, that what we’re asking people to do is very much embedded in real-time evidence, is really critical. And I hope that as we build up this capability, this transparency, but also the real-time evidence, provides people with the reassurance that what we’re asking them to do actually is something that they should do, because it’s backed up by that real-time evidence.

    PATRICIA KARVELAS: The coalition says this review didn’t look at the states and territories. They are right. And given they were the ones that imposed some of these restrictions, isn’t that a major flaw?

    AMANDA RISHWORTH: This wasn’t wanting to go over the existing reviews that have been done in states and territories. I think from the Commonwealth’s perspective, this report was really about how do we prepare for a future pandemic. What are the lessons learned for the Commonwealth? It’s very important that the Commonwealth is better prepared and that came through clearly both in its economic response and its health response. So, I’m focused on, as is the Government, what can we do better next time? And this report has been really important in identifying what went right, but where we could have adjusted the settings as well.

    PATRICIA KARVELAS: You’re the Minister for Social Services and that involves really many vulnerable communities. It was in fact vulnerable communities, particularly when I think about the NSW lockdowns, that were disproportionately affected. Was that wrong with the benefit of hindsight?

    AMANDA RISHWORTH: Well, look, I don’t want to second guess, but the report did highlight the disproportionate impact [the lockdowns] had on some vulnerable communities. So, I think that is really important. And what the report said is we, obviously, had to have a strong response to understand what we were dealing with, but how do we transition really quickly and weigh up the health benefits and the non-health risks, which were things at both economic but also wellbeing risks. So, this report does talk about how we better transition in different phases, but it did highlight that as a result of perhaps not transitioning from the initial response to the suppression response, that some vulnerable communities were particularly targeted or not targeted – that’s probably not the right word – were particularly impacted as a result. And I think we have to be very much aware of that. The other element that really came out in the report is the impact on mental health and wellbeing. And I think that’s something we need to be very conscious of and work into the future on repairing.

    PATRICIA KARVELAS: I want to move to what you’re launching today. You’re launching a new policy that brings philanthropic donors and the Government together to take on entrenched social issues. How will it work?

    AMANDA RISHWORTH: Today is a really exciting day because we’re announcing a new organisation called PLACE, which will be a not-for-profit, independent national organisation that will work with communities about responding to the issues that they know are in their communities, but in a way that they would like to see responded. Now, this is different, because this isn’t the Government just giving a grant to an organisation to do this work. This is a true partnership where five philanthropic organisations are putting money on the table, with government, to create this organisation in true partnership, and it will work with local communities to get better outcomes and shift in some areas – which have been seeing entrenched disadvantage – to see things move. So, this is really exciting. There is really amazing work being done in communities when it comes to what we call place-based solutions. That’s where communities have a say and help design the solutions. And money isn’t top down, but it really is directed to where communities want. But it’s pretty sporadic, and a lot of communities don’t have the data they need, for example, this organisation will work with communities, so if they want to implement this type of response, they can.

    PATRICIA KARVELAS: It’s not a lot of money. So, how would it work? How do you get the money to actually be meaningful in a community that’s identified as being high needs?

    AMANDA RISHWORTH: Well, this money is not about funding the services and support. That money is often there being provided by philanthropy and being provided by Government, but it’s not being directed into the initiatives or into the areas that community want. So, what this organisation will do will work with communities and government and philanthropic organisations to get the money that’s often already in their community, working better in programs that align to what the community wants. So, this isn’t about funding programs, this is about doing the work, working on how to get the data, for example. A lot of communities have a gut feeling something’s working, but they can’t see the data. And where we’ve implemented this place-based response, we can see it really working. One example is the community in Burnie decided they wanted to focus on completion rates, year 12 completion rates and it has gone up since 2011 to 2020 by 86%. And so this organisation is about working with communities to help them build these responses and attract the investment and get the money working for their community.

    PATRICIA KARVELAS: Before I let you go, there’s been a lot of talk about the Prime Minister in the wake of this book on Qantas and upgrades. There is a proposal from Peter Dutton that the Prime Minister should refer himself to the National Anti-Corruption Commission. Will he?

    AMANDA RISHWORTH: Well, look, I think that instead of focusing on the Prime Minister and his family, the Opposition Leader needs to start explaining about his upgrades, about his use of Gina Reinhart’s private jet. I mean, the Prime Minister has been incredibly transparent about this. He has declared on the public record over and over again. But Peter Dutton seems to be absolutely focused on the politics of this and not on the substance.

    PATRICIA KARVELAS: But you didn’t kind of go to my fundamental question, which is, do you think this should be looked at by the National Anti Corruption Commission? If there’s nothing to see, where’s the harm in him referring himself?

    AMANDA RISHWORTH: Well, I think the Prime Minister, as with other members of Parliament, are required to be transparent through their declarations on their register of interest. And, you know, we’ve seen over the last couple of days many, many politicians from all sides having flight upgrades.

    PATRICIA KARVELAS: Have you ever asked for one?

    AMANDA RISHWORTH: To be honest, I’ve got a young family and I don’t travel into very many places, but I haven’t asked for one. But I think that there are many politicians that have had upgrades. And so there’s a register of public interest, so that it’s all transparent. And, you know, if Peter Dutton is saying there’s questions to be answered, he needs to answer the question, explain his use of Gina Rinehart’s private jet.

    PATRICIA KARVELAS: It doesn’t have to be a competition between will you answer questions? Will you answer questions? Shouldn’t, you know, both sides just answer the questions? And there are some additional questions that the Prime Minister has not addressed about if he discussed upgraded flights directly with Alan Joyce when he was Transport Minister.

    AMANDA RISHWORTH: Well, I think that there needs to be a consistent approach. The opposition is making this completely political. It’s a complete pile on the Prime Minister. Peter Dutton can’t explain his use of Gina Rinehart’s private jet. So, quite frankly, I think there’s a lot of politics here and a lot of hypocrisy from the opposition. I mean, we have Paul Fletcher, who’s declared sixty-nine upgrades. So, I think what I’m pointing out here is the hypocrisy of the opposition playing politics with this.

    PATRICIA KARVELAS: Thank you so much for joining us, Minister.

    AMANDA RISHWORTH: Thank you.

    MIL OSI News –

  • MIL-OSI Australia: Minister Shorten doorstop interview at Salvation Army Project 614, Melbourne

    Source: Ministers for Social Services

    E&OE transcript 

    JOURNALIST: Mr. Shorten, how important is this initiative between the Salvos and Diabetes Australia, and what impact do you think it will have?

    BILL SHORTEN, MINISTER FOR THE NDIS AND GOVERNMENT SERVICESHORTEN: Diabetes is a giant problem for Aussies. 1.9 million of our fellow Australians have been diagnosed with diabetes. Someone’s going to get a diagnosis every five minutes in Australia. For diabetes, the burden of it falls particularly on First Nations people, and also people who live in insecure housing or are in fact homeless. So today, for the first time, we’ve partnered up Diabetes Australia with the Salvation Army, Project 614 in Bourke Street in Melbourne. And what we’re going to see is that at long last, people living at the margins of Australian society won’t be forgotten citizens when it comes to getting a diagnosis of diabetes and the treatment that’s required, because this is a preventable illness.

    JOURNALIST: Were you quite shocked with some of the statistics you heard today about just how prevalent, even over the past ten weeks, how much they’ve found of it on the streets of Melbourne?

    SHORTEN: Diabetes is one of the invisible killers of Australians but is preventable. Sometimes in life stuff happens you can’t stop. Diabetes can be treated. Now, at long last, courtesy of the Salvos, Diabetes Australia and a bit of help from a friendly federal government, we are going to see homeless people are get this sort of assistance which some Australians take for granted.

    JOURNALIST: And would you like to see this expanded? Obviously, it’s for the Salvos at the moment, but would you like to see it expanded into other areas as well?

    SHORTEN: There’s a big challenge in Australia and the way we deliver government and health services. Not everyone is a digital warrior who can go online. Not everyone is able to just pop down to the local health office or Services Australia office. Governments and health systems have got to go to where the people are. A lot of our people in Australia are not doing so well and so we have to go to the people. And today, I hope this is an example all over Australia, that where the government and health system goes to the people, we don’t wait for the people to come to us.

    JOURNALIST: Okay. On the Anti-Corruption Commission now looking, reviewing its decision about not investigating Robodebt. Do you welcome that?

    SHORTEN: Labor set up the National Anti-Corruption Commission. It was long overdue to be set up. The organisation is completely independent of government. The Inspector General has made a recommendation that the decision by the National Anti-Corruption Commission not to take proceedings further, be reviewed. So now the decision will be reconsidered, whether or not people referred to the National Anti-Corruption Commission should in fact be investigated again.

    JOURNALIST: Do you welcome that decision? I mean, you campaigned long and hard, didn’t you?

    SHORTEN: The decision of the Anti-Corruption Commission today by the Inspector General to review an earlier decision not to proceed with matters against people involved in the Robodebt scandal that is up to the independent body. For me, it’s all about justice for the victims of Robodebt. We can’t invent a time – we haven’t invented a time machine to take us back before Robodebt happened. That would be the best outcome. The class action, the Royal Commission, internal public sector, that’s all been putting pressure on the authors of Robodebt. I still am very keen to see the sealed section, listing some of the people that the Royal Commission identify released that’s still under consideration.

    JOURNALIST: Okay. Now on the Prime Minister, do you concede, given its cost of living, do you concede it is a bad look what he did?

    SHORTEN: Prime Minister has done everything within the rules that exist. He has diligently for two decades declared any particular benefits which he’s received. He’s adhered to the rules. That’s where I think the matter is at.

    JOURNALIST: But do you concede, though, it’s a bad look given there is a cost-of-living crisis. So many Australians, so many Australians are struggling, and yet you have a transport minister ringing up the CEO of Qantas saying give me the upgrades?

    SHORTEN: Well, first of all, the Prime Minister has explained exactly what’s happened, and these matters go back in some cases up to 20 years ago. Labor is focused on cost of living. If we want to fix cost of living, it’s not whether or not a politician catches a plane. It’s how do we help them with tax cuts? Tick, we’ve done that. How do we help them with their energy bills? Tick, we’re doing that. Cost of living is a major pressure on Australians. We’ve got more to do, and this government and the Prime Minister and everyone else has been focused on tax cuts, energy relief, more Medicare support, more bulk billing. I mean, times are really tough. And that’s where our focus is not on a particular news story.

    JOURNALIST: So, this is a, this is a big distraction though isn’t it, when this is happening?

    SHORTEN: Oh, I’m not distracted. I’m focused on making sure the crooks in the NDIS are caught, making sure that people are getting value for money who are disabled. I certainly am focused on making sure that people at the margins of our society are accessing healthcare. No, I think we’re focused.

    JOURNALIST: Claire O’Neill says it’s all a beat up. Do you agree with her?

    SHORTEN: Well, I’m just focused on my day job and that’s what I know the Government is. Our day job is to make sure, in the example of health services, that people, regardless of how much money they’ve got in the bank, can get to see their doctor or get the medical support they require. I’m focused on making sure that people have, the hard-working people who earn, you know, as cleaners or workers, aged care workers, disability, that they’re getting pay rises along with our nurses. So, my eye is on the ball, the government’s eye is on the ball. It’s about helping people get through this very difficult time of cost, living pressure and high interest rates.

    JOURNALIST: Mr. Dutton says he wants to refer this matter to the Anti-Corruption Commission. What’s your reaction?

    SHORTEN: I wish Mr. Dutton was focused on the cost-of-living issues of everyday Australians. I mean, he’s not shy about catching a plane with billionaire mining magnate Gina Rinehart. I don’t think he’s proposing to refer himself. So, I think that what Australians want is for the politicians to stop bickering amongst themselves and get on with looking after the everyday people. That’s what we’re doing today.

    JOURNALIST: We’ve just got a couple of questions from SBS just back on the NACC. Has the NACC failed at the very first hurdle?

    SHORTEN: Oh, the NACC is independent of Government. The National Anti-Corruption Commission is independent of Government. I think the smartest thing that a parliamentarian can do is not comment adversely about the operations of the National Anti-Corruption Commission. They’ve got to do their job. The very fact that we’ve established one is something which was long overdue. The Liberals never did that. The very fact that in the system that we set up, that there’s an inspector general who can review decisions and then send them back if he didn’t agree, shows the system is actually working.

    JOURNALIST: Should Commissioner Brereton keep his job?

    SHORTEN: Oh, absolutely not the province of a politician to start picking and choosing, you know, saying he should go, he should stay. The NACC is doing its job. The system is actually worked in that the Inspector General has said, hey, you need to go back and redo this decision for various reasons. Have relook at it. That’s actually the system working. For Robodebt victims, it should never have happened. I mean, illegal and immoral scheme. I’ve helped run the class action we helped do the parliamentary or the Royal Commission. We’re making sure that never again can our poor people be welfare shamed and treated as second class citizens by a government. That’s where my focus is. I wish it had never happened. I’m sorry that they were let down by the government, and we’re making sure that just because you’re disadvantaged or down on your luck doesn’t mean you get treated like a second class Australian.

    JOURNALIST: Should the independent statutory review of the NACC be brought forward?

    SHORTEN: That’s a matter for other Ministers. I’m interested in how someone can get an analysis for diabetes and get treated. The review of whatever to do with the NACC. I’ll leave to other people. My eye is on the ball. Thank you.

    MIL OSI News –

  • MIL-OSI: Capgemini Q3 2024 revenues

    Source: GlobeNewswire (MIL-OSI)

    Media relations:
    Victoire Grux
    Tel.: +33 6 04 52 16 55
    victoire.grux@capgemini.com

    Investor relations:
    Vincent Biraud
    Tel.: +33 1 47 54 50 87
    vincent.biraud@capgemini.com

    Capgemini Q3 2024 revenues

    • Q3 2024 revenues of €5,377 million, down -1.6% at constant exchange rates*
    • 9M 2024 revenues of €16,515 million, down -2.3% at constant exchange rates
    • FY 2024 constant currency revenue growth target revised to -2.0% to -2.4% and operating margin target narrowed to 13.3% to 13.4%
    • FY 2024 organic free cash-flow target confirmed at around €1.9 billion

    Paris, October 30, 2024 – The Capgemini Group reported consolidated revenues of €5,377 million in Q3 2024, down -1.9% year-on-year on a reported basis, and down -1.6% at constant exchange rates*.

    Aiman Ezzat, Chief Executive Officer of the Capgemini Group, said: “Our growth improved marginally in Q3 compared to Q2, despite stronger headwinds than anticipated in some sectors, primarily in Manufacturing. However, we continue to see recovery in Financial Services and gradually lesser headwinds from Telco and Tech.

    In a market that remains soft overall, we expect to deliver a similar growth in Q4 while demonstrating the resilience of our operating margin and organic free cash-flow. Client demand continues to be driven by operational efficiencies and cost reduction and we seize their growing appetite for AI and Gen AI services.

    Our positioning as a business and technology transformation partner, the relevance of our offerings and the quality of our talent are driving our solid book-to-bill ratio and growing pipeline of strategic deals. We are also launching a set of targeted actions to simplify our operations to make the Group more agile with a stronger emphasis on growth.

    Based on Q4 perspectives, we now expect a full-year constant currency growth rate of -2.0% to -2.4% and narrow the operating margin target to 13.3% to 13.4%, while the organic free cash-flow target of around €1.9 billion is confirmed.”

      (in millions of euros)   Change
    Revenues 2023 2024   At current
    exchange rates    		 At constant
    exchange rates*
    Q3 5,480 5,377   -1.9% -1.6%
    9 months 16,906 16,515   -2.3% -2.3%

    After bottoming out in Q1 2024, Capgemini activity trends improved again in Q3, but only marginally. The Group generated revenues of €5,377 million in Q3 2024, down -1.9% year-on-year on a reported basis and -1.6% at constant exchange rates*. On an organic basis (i.e., restated for changes in Group scope and exchange rates), revenues contracted by -2.1%. For the first nine months of the year, growth stands at -2.3%, both on a reported basis and at constant exchange rates.

    Clients remained focused on driving efficiencies through large digital transformation programs, at the expense of discretionary deals. This is fueling strong demand for Capgemini’s Cloud and Data & AI/Gen AI services, as well as for digital core modernization and intelligent supply chain services that are key focus themes in the current environment.

    Bookings totaled €5,222 million in Q3 2024, down -0.8% at constant exchange rates, leading to a book-to-bill ratio of 0.97 for the period. Generative AI bookings amounted to around €600 million over the last 9 months which represent around 3.5% of Group bookings.

    OPERATIONS BY REGION

    In the Group’s largest regions, Q3 growth rates remained similar to Q2. Overall, this reflects the continued recovery in Financial Services across all regions combined with, as anticipated, a slowdown in the Manufacturing sector.

    At constant exchange rates, revenues in the North America region (28% of Group revenues in Q3 2024) decreased by -3.9% year-on-year. Financial Services further improved, yet still posting a year-on-year decline in Q3. Overall, the revenue contraction was driven by the Consumer Goods & Retail, Energy & Utilities, and Public sectors.

    Revenues in the United Kingdom and Ireland region (13% of Group revenues) returned to positive growth at +0.4%. The continued dynamism of the Energy & Utilities sector and a resilient Manufacturing sector outweighed the contraction in the Consumer Goods & Retail sector.

    Revenues in France (19% of Group revenues) decreased by -2.5%. Growth in the Public sector, along with positive momentum in TMT (Telecoms, Media & Technology), were more than offset by the slowdown of the Manufacturing sector.

    Revenues in the Rest of Europe region (31% of Group revenues) increased by +0.6%. Solid growth in Financial Services, as well as continued dynamism in Energy & Utilities and Public sector, made up for the contraction in the Manufacturing and TMT sectors.

    Lastly, revenues in the Asia-Pacific and Latin America region (9% of Group revenues) were down -2.2%. In the Asia-Pacific region, strong momentum in the Public sector and improving Financial Services were more than offset by visible weakness in the Consumer Goods & Retail and Manufacturing sectors. Growth acceleration in Latin America was mostly driven by the Consumer Goods & Retail sector.

    OPERATIONS BY BUSINESS        

    In Q3 2024, at constant exchange rates, the growth in Strategy & Transformation services (9% of the Group’s total revenues* in Q3 2024) further strengthened to +6.5% year-on-year. This reflects continued client demand for strategic consulting on their transition towards a more digital and sustainable model as well as their unwavering interest in the broad AI and Gen AI opportunities.

    In Applications & Technology services (63% of the Group’s total revenues and Capgemini’s core business), growth rates improved by 170 basis points compared to Q2, to -1.2% year-on-year in Q3.

    Lastly, Operations & Engineering total revenues (28% of the Group’s total revenues) decreased by -3.4% primarily driven by the contraction in Infrastructure Services and, to a lesser extent, Engineering services.

    HEADCOUNT

    The Group’s total headcount stands at 338,900 as at September 30, 2024, down -1.1% year-on-year and up +0.6% since the end of June. The offshore workforce stands at 194,400 employees or 57% of the total headcount.

    OUTLOOK

    The Group’s financial targets for 2024 are updated as follows:

    • Revenue growth of -2.0% to -2.4% at constant currency (was -0.5% to -1.5%);
    • Operating margin of 13.3% to 13.4% (was 13.3% to 13.6%);
    • Organic free cash-flow of around €1.9 billion (unchanged).

    The inorganic contribution to growth should be 40 basis points.

    CONFERENCE CALL

    Aiman Ezzat, Chief Executive Officer, accompanied by Nive Bhagat, Chief Financial Officer, and Olivier Sevillia, Chief Operating Officer, will present this press release during a conference call in English to be held today at 8.00 a.m. Paris time (CET). You can follow this conference call live via webcast at the following link. A replay will also be available for a period of one year.

    All documents relating to this publication will be posted on the Capgemini investor website at https://investors.capgemini.com/en/.

    PROVISIONAL CALENDAR

    February 18, 2025        FY 2024 results
    April 29, 2025        Q1 2025 revenues
    May 7, 2025        Shareholders’ Meeting
    July 30, 2025        H1 2025 results

    DISCLAIMER

    This press release may contain forward-looking statements. Such statements may include projections, estimates, assumptions, statements regarding plans, objectives, intentions and/or expectations with respect to future financial results, events, operations and services and product development, as well as statements, regarding future performance or events. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “projects”, “may”, “would”, “should” or the negatives of these terms and similar expressions. Although Capgemini’s management currently believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking statements are subject to various risks and uncertainties (including, without limitation, risks identified in Capgemini’s Universal Registration Document available on Capgemini’s website), because they relate to future events and depend on future circumstances that may or may not occur and may be different from those anticipated, many of which are difficult to predict and generally beyond the control of Capgemini. Actual results and developments may differ materially from those expressed in, implied by or projected by forward-looking statements. Forward-looking statements are not intended to and do not give any assurances or comfort as to future events or results. Other than as required by applicable law, Capgemini does not undertake any obligation to update or revise any forward-looking statement.

    This press release does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States or any other jurisdiction.

    ABOUT CAPGEMINI

    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2023 global revenues of €22.5 billion.

    Get the Future You Want | www.capgemini.com

    * *

    *

    APPENDIX3F1

    BUSINESS CLASSIFICATION

    • Strategy & Transformation includes all strategy, innovation and transformation consulting services.
    • Applications & Technology brings together “Application Services” and related activities and notably local technology services.
    • Operations & Engineering encompasses all other Group businesses. These comprise Business Services (including Business Process Outsourcing and transaction services), all Infrastructure and Cloud services, and R&D and Engineering services.

    DEFINITIONS

    Organic growth or like-for-like growth in revenues is the growth rate calculated at constant Group scope and exchange rates. The Group scope and exchange rates used are those for the reported period. Exchange rates for the reported period are also used to calculate growth at constant exchange rates.

    Reconciliation of growth rates Q1 2024 Q2 2024 Q3 2024 9M 2024
    Organic growth -3.6% -2.3% -2.1% -2.7%
    Changes in Group scope +0.3 pts +0.4 pts +0.5 pts +0.4 pts
    Growth at constant exchange rates -3.3% -1.9% -1.6% -2.3%
    Exchange rate fluctuations -0.2 pts +0.4 pts -0.3 pts -0.0 pts
    Reported growth -3.5% -1.5% -1.9% -2.3%

    When determining activity trends by business and in accordance with internal operating performance measures, growth at constant exchange rates is calculated based on total revenues, i.e., before elimination of inter-business billing. The Group considers this to be more representative of activity levels by business. As its businesses change, an increasing number of contracts require a range of business expertise for delivery, leading to a rise in inter-business flows.

    Operating margin is one of the Group’s key performance indicators. It is defined as the difference between revenues and operating costs. It is calculated before “Other operating income and expense” which include amortization of intangible assets recognized in business combinations, expenses relative to share-based compensation (including social security contributions and employer contributions) and employee share ownership plan, and non-recurring revenues and expenses, notably impairment of goodwill, negative goodwill, capital gains or losses on disposals of consolidated companies or businesses, restructuring costs incurred under a detailed formal plan approved by the Group’s management, the cost of acquiring and integrating companies acquired by the Group, including earn-outs comprising conditions of presence, and the effects of curtailments, settlements and transfers of defined benefit pension plans.

    Normalized net profit is equal to profit for the year (Group share) adjusted for the impact of items recognized in “Other operating income and expense”, net of tax calculated using the effective tax rate. Normalized earnings per share is computed like basic earnings per share, i.e., excluding dilution.

    Organic free cash flow is equal to cash flow from operations less acquisitions of property, plant, equipment and intangible assets (net of disposals) and repayments of lease liabilities, adjusted for cash out relating to the net interest cost.

    Net debt (or net cash) comprises (i) cash and cash equivalents, as presented in the Consolidated Statement of Cash Flows (consisting of short-term investments and cash at bank) less bank overdrafts, and also including (ii) cash management assets (assets presented separately in the Consolidated Statement of Financial Position due to their characteristics), less (iii) short- and long-term borrowings. Account is also taken of (iv) the impact of hedging instruments when these relate to borrowings, intercompany loans, and own shares.

    REVENUES BY REGION

      Revenues
    (in millions of euros)    		   Year-on-year growth
      Q3 2023 Q3 2024   Reported At constant exchange rates
    North America 1,608 1,530   -4.9% -3.9%
    United Kingdom and Ireland 676 690   +2.1% +0.4%
    France 1,045 1,019   -2.5% -2.5%
    Rest of Europe 1,633 1,646   +0.8% +0.6%
    Asia-Pacific and Latin America 518 492   -5.0% -2.2%
    TOTAL 5,480 5,377   -1.9% -1.6%
      Revenues
    (in millions of euros)    		   Year-on-year growth
      9 months
    2023    		 9 months
    2024    		   Reported At constant exchange rates
    North America 4,896 4,638   -5.3% -4.9%
    United Kingdom and Ireland 2,062 2,070   +0.4% -1.8%
    France 3,353 3,264   -2.6% -2.6%
    Rest of Europe 5,105 5,116   +0.2% +0.1%
    Asia-Pacific and Latin America 1,490 1,427   -4.2% -1.9%
    TOTAL 16,906 16,515   -2.3% -2.3%

    REVENUES BY BUSINESS

      Total revenues*
    (% of Group revenues)    		 Year-on-year growth at constant exchange rates in total revenues of the business
      Q3 2024
    Strategy & Transformation 9% +6.5%
    Applications & Technology 63% -1.2%
    Operations & Engineering 28% -3.4%
      Total revenues*
    (% of Group revenues)    		 Year-on-year growth at constant exchange rates in total revenues of the business
      9 months
    2024
    Strategy & Transformation 9% +3.9%
    Applications & Technology 62% -2.7%
    Operations & Engineering 29% -2.3%

    1 Note that in the appendix, certain totals may not equal the sum of amounts due to rounding adjustments.

    Attachments

    The MIL Network –

  • MIL-OSI: Melexis Q3 2024 results – Third quarter sales of 247.9 million EUR

    Source: GlobeNewswire (MIL-OSI)

    Regulated information

    Intermediate declaration by the Board of Directors

    Ieper, Belgium – October 30th, 2024, 07.00 hrs CET

    Dear,

    Please find herewith the link to our most recent press release:

    www.melexis.com/en/news/2024/financial/melexis-q3-2024-results

    Attachment

    The MIL Network –

  • MIL-OSI: SUBC – Ex. Dividend NOK 3.00 on 30 October 2024

    Source: GlobeNewswire (MIL-OSI)

    Luxembourg – 30 October 2024

    • Issuer: Subsea 7 S.A.
    • Ex-date: 30 October 2024
    • Dividend amount: NOK 3.00
    • Announced currency: Norwegian Krone

    Contact for investment community enquiries:
    Katherine Tonks
    Investor Relations Director
    Tel +44 20 8210 5568
    ir@subsea7.com

    This information is published in accordance with the requirements of the Continuing Obligations.

    This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 30 October 2024 at 07:00 CET.

    The MIL Network –

  • MIL-OSI: Amundi: Third quarter and nine-month 2024 results

    Source: GlobeNewswire (MIL-OSI)

    Amundi: Third quarter and nine-month 2024 results

    Net income1,2up +16% Q3/Q3 and record assets under management at €2.2 trillion

    Strong growth in earnings and revenues   Q3 – adjusted net income1,2 at €337m, fast-growing: +16.1% Q3/Q3

    • Thanks to revenue growth (+10.5%) and positive jaws effect
    • Q3/Q3 cost/income ratio improvement at 52.9%3

    9 months – adjusted net income1,2 at €1,005m, up +10.4% 9M/9M

    Earnings per share2: €1.65 for Q3, €4.91 for 9M
         
    Record AuM
    & dynamic MLT inflows5    		   Record assets under management3: €2,192bn at 30 September 2024, up +11% year-on-year

    Q3 net inflows3 of +€2.9bn, or +€14.5bn excluding the exit from a large, low-income institutional mandate4

    • +€9.1bn in MLT assets4,5,6
    • Solid commercial momentum of Asian JVs: +€5.3bn
         
    Continued strategic progress   ETFs6: +€8bn in Q3 net inflows, now more than €250bn in assets under management
    Third-party distribution: +€7bn Q3 net inflows, with contribution from all regions and asset classes

    Asia: +€7bn in Q3 net inflows, from JVs and direct distribution in Japan, Singapore, Hong Kong, Taiwan and China

    Technology: revenues +42% Q3/Q3

    Victory Capital: approval7 of the partnership with Amundi secured at EGM, transaction expected to close in Q1 2025

    Paris, 30 October 2024

    Amundi’s Board of Directors met on 29 October 2024 under the chairmanship of Philippe Brassac, and reviewed the financial statements for the third quarter and the first 9 months of 2024.

    Valérie Baudson, Chief Executive Officer, said:
    « Amundi’s results in the third quarter of 2024 demonstrate our ongoing strategic progress and continued growth potential. Our Q3 net profit1,2of €337m, increased by +16% compared to the same period in 2023 and exceeded one billion euros over 9 months. Assets under management reached a record level of €2.2 trillion.

    We have been able to support our clients whatever their profile and needs, which has resulted in a high level of net inflows in our strategic development areas, namely Asia, Third-Party Distributors, and ETFs.

    By putting clients at the heart of our strategy and by continuing to develop the areas of expertise that primarily seek to meet their needs, we are ideally positioned to seize growth opportunities in the savings industry. »

    * * * * *

    Further progress in achieving our 2025 Ambitions plan

    Q3 2024 saw key areas of focus under the “2025 Strategic Ambitions” plan contribute to activity and earnings growth.

    • ETFs exceeded €250bn in assets under management at the end of September, up +31% year-on-year, thanks in particular to very dynamic net inflows reaching +€17bn over 9 months, including +€8bn in Q3. This places Amundi in second place in the European market in terms of net inflows this quarter8. these inflows are well diversified across equity and fixed income products, with a high share of products classified as responsible investment9 in net inflows (+€3bn, or 34% market share in flows in this market segment). Amundi has had many commercial successes this quarter: for example, the Amundi ETF Stoxx Europe 600 is the best-selling (+€0.85bn) European equity ETFs in Q3, the Amundi ETF Euro Government Tilted Green Bond, launched last year, saw its assets under management exceed €3bn after gathering +€1.1bn since the beginning of the year, and the Amundi ETF Prime ACWI exceeded €1bn in assets under management 8 months after its launch.
    • Third-Party Distribution reached €377bn in assets under management at the end of September, up +24% year-on-year, with net inflows +€19bn for 9 months 2024, and +€7bn in Q3, thanks to contributions from all regions and asset classes, from ETFs, treasury products and active management;
    • Asia assets under management increased by +17% year-on-year to €458bn; net inflows for 9 months 2024 stood at +€30bn with a significant contribution from Amundi’s Indian JV SBI MF, which now has €278bn in assets, up +19% year-on-year (+€18bn in net inflows); €103bn of total Asian assets under management come from direct distribution excluding JVs (+20% year-on-year), with net inflows for 9 months 2024 standing at +€3bn in Japan, +€2.4bn Singapore, +€1.4bn Hong Kong and also +€1.7bn in China outside the two JVs, mainly with institutional clients;
    • The Technology & Services offering is also experiencing strong growth, with technology revenues of €54m over 9 months, up +28% compared to the same period in 2023, and even +42% Q3/Q3; the Fund Channel fund distribution platform exceeded €490bn in assets at the end of September 2024; during the quarter it signed a distribution agreement with ING Germany and integrated the fintech AirFund into its ecosystem to digitise access to private markets; Fund Channel was also ranked “Best Distribution Platform” for the third consecutive year by the consulting and research firm Platforum;
    • In fixed income expertise, Amundi now manages €1,160bn in assets10 across a wide range of solutions, from treasury products to target maturity funds, offering attractive returns and capital protection; fixed income net inflows stood at +€46bn10 over 9 months and +€14bn10 in Q3 thanks to sustained activity in active bond strategies (+€11bn excluding JV) and ETFs (+€2.5bn);
    • The partnership project with Victory Capital reached an important milestone with shareholder approval of resolutions7 necessary to finalise the transactions, expected in Q1 2025. As a reminder, this partnership aims at creating a larger US investment platform, via the contribution of Amundi US to Victory Capital in return for Amundi taking a 26%-stake of the combined entity as well as 15-year distribution agreements, to serve the clients of both companies; Amundi would thus have a greater number of US and global management expertise to offer its clients. The transaction, which involves no disbursement of cash, is expected to bring a low single-digit accretion for Amundi shareholders, with an increase in the contribution of our US operations to the adjusted net income and EPS.

    Activity

    Market environment

    In the third quarter of 2024, equity markets11 increased by +1.1% in average compared to the previous quarter and by +15.6% compared to Q3 2023. The European bond markets12 also rose, reflecting the shift in monetary policy and the ECB’s decision to cut rates. Year-on-year, our benchmark index12 increased by +6.3% in Q3 2024 compared to Q3 2023 and by +2.1% compared to Q2 2024. The market effect is therefore positive on the evolution of Amundi’s revenues and net income.

    When compared to the 2021 averages used as a reference for the 2025 Ambitions plan, the market effect is only slightly positive.

    The European asset management market continues its gradual recovery. Open-ended fund volumes13, at +€213bn in the third quarter, continued to be driven by treasury products (+€93bn) and passive management (+€75bn). Nevertheless, the third quarter recorded positive flows in medium- to long-term active management for the second quarter in a row (+€45bn), driven by fixed income strategies (+€69bn).

    High level of activity over the quarter in MLT assets5, assets under management at a record level of €2.2tn

    Activity this quarter continues to be marked, like the rest of the European market, by risk aversion among retail clients. However, Amundi performed well, driven in particular by ETFs, bond solutions, third-party distributors and Asia. Excluding the exceptional exit from a low-income insurance mandate4, net inflows were positive in all major medium- to long-term areas of expertise (passive, active, structured products and real assets), in all client segments (Retail, Institutional and JV), and in all major markets (France, Italy, Germany, Asia and the United States).

    Amundi’s assets under management at 30 September 2024 increased by +11.1% year-on-year (compared to the end of September 2023) and by +1.6% quarter-on-quarter (compared to the end of June 2024), to €2,192bn, an all-time high.

    In the third quarter of 2024, the market and currency effect amounted to +€32.5bn (+€175.9bn over a year) and Amundi generated positive net inflows of +€2.9bn. As announced at the time of the second quarter results publication, this amount includes the exit of a low-income multi-asset mandate4 with a European insurer, of €11.6bn.

    Adjusted for this exit4, net inflows for the quarter were +€14.4bn of which +€9.1bn in MLT Assets5. It was positive in active management (+€4.3bn) and ETFs (+€7.8bn), partially offset by outflows from index strategies. Structured products and real and alternative assets also recorded positive net inflows (+€0.8bn), while treasury products were flat (+€0.1bn).

    Finally, the JVs14continued their solid commercial momentum, with net inflows of +€5.3bn, reflecting a positive contribution from India (SBI MF, +€6.0bn) and South Korea (NH-Amundi, +€0.4bn), partially offset this quarter by slight net outflows in China (ABC-CA) despite continued open-ended net inflows.

    By Client Segment, Retail recorded net inflows of +€6.3bn, of which +€1.3bn in MLT assets5, with contrasting developments according to the sub-segments:

    • Third-Party Distributors had another very good quarter in terms of total net inflows (+€6.8bn); all regions contributed to these inflows, which were highly diversified across asset classes, with positive contributions from ETFs, treasury products but also active management (+€1.5bn);
    • Risk aversion has a larger impact on the activity of partner network clients in France (+€1.1bn) and outside France excluding Amundi BOC WM (-€0.9bn), despite the good performance of structured and treasury products as well as bond strategies; Sabadell’s network in Spain continues its sales momentum (+€0.4bn);
    • In China, Amundi BOC WM posted net outflows this quarter (-€0.7bn), as the maturities of fixed-term funds were not offset by open-ended fund subscriptions.

    Excluding the loss of the low-income insurance mandate already mentioned4, the Institutional segment recorded very positive inflows in MLT Assets5(+€7.8bn), in all sub-segments: Institutional & Sovereigns with +€4.4bn, CA & SG insurance mandates with +€2.4bn thanks to the continued recovery of the traditional life insurance Euro contracts this quarter, Corporates and Employee Savings (+€1.0bn) thanks to net inflows in short-term bond products from corporates. Net outflows in Treasury Products (-€4.9bn) are to a large extent seasonal.

    Results

    Sustained growth in net income, +16% Q3/Q3 to €337m, and more than €1bn in the 9 months of 2024

    Adjusted data2

    In the third quarter of 2024, adjusted net income2reached €337m, up +16.1% compared to the third quarter of 2023. Since the second quarter, it includes Alpha Associates, whose acquisition was finalised in early April.

    The growth in net income was mainly due to organic revenue growth, amplified by operating efficiency, which led to a positive jaws effect, and by the very strong momentum of Asian JVs. These results were achieved against the backdrop of continued client risk aversion, and inflation.

    Adjusted net revenues2 reached €862m, up +10.5% compared to the third quarter of 2023.

    • The sustained growth in net management fees, up +9.2% compared to the third quarter of 2023, to €805m, reflects the good level of activity and the increase in average assets under management excluding JVs (+8.6% over the same period);
    • Performance fees (€20m) doubled compared to the third quarter of 2023 (€10m), a low basis of comparison; however, they were down compared to the second quarter of 2024 (€50m) due to the lower level of crystallisation15 in the third quarter than in the second and fourth quarters, as it does every year; however, the performance of Amundi’s management is at a good level, with more than 71% of assets under management ranked in the first or second quartiles according to Morningstar16 over 1, 3 or 5 years and 257 Amundi funds rated 4 or 5 stars by Morningstar as of 30 September;
    • Amundi Technology’s revenues, at €20m, continued to grow steadily (+41.8% compared to the third quarter of 2023; +13.0% compared to the second quarter of 2024), confirming the development of this business;
    • Finally, the Financial and other income2 amounted to €17m, down slightly compared to the third quarter of 2023 and previous quarters.

    The increase in operating expenses2, by +7.4% compared to the third quarter of 2023, to €456m, remains lower than the increase in revenues (+10.5%) over the same period, thus generating a positive jaws effect which reflects the Group’s operational efficiency.

    The increase is mainly due to:

    • the first consolidation of Alpha Associates;
    • the provision for individual variable remuneration in line with the increase in results;
    • and finally the acceleration of investments in development initiatives according to the axes of the 2025 Ambitions Plan, particularly in technology.

    The Cost income ratio improved to 52.9% in adjusted data2 compared to the same quarter last year, and remains in line with the 2025 target and at the best level in the industry.

    The Adjusted gross operating income2(EBIT) amounted to €406m, up +14.2% compared to the third quarter of 2023, reflecting double-digit revenue growth amplified by operational efficiency.

    Income from equity-accounted companies, which reflects Amundi’s share of the net income of minority JVs in India (SBI MF), China (ABC-CA), South Korea (NH-Amundi) and Morocco (Wafa Gestion), was up +36.5% compared to the third quarter of 2023, to €33m, representing 10% of adjusted net income, reflecting the good level of activity in India and Korea.

    Adjusted earnings per share2in the third quarter of 2024 reached €1.65, up +16.0%.

    Accounting data in the third quarter of 2024

    Accounting Net income Group share amounted to €320m and includes non-cash charges related to acquisitions, in particular the amortisation of intangible assets related to distribution and client contracts (-€24m before tax in the quarter including the corresponding new charges related to Alpha Associates, see details in p. 11), representing a total of -€17m after tax.

    Accounting earnings per share in the third quarter of 2024 reached €1.56.

    In the first 9 months of 2024, adjusted net income2amounted to €1,005m, up +10.4%, reflecting the same trends as in the third quarter:

    • Adjusted net revenues2 grew by +7.3% compared to the first 9 months of 2023, to €2,573m, reflecting as in the quarter the sustained growth in management fees (+6.6%) and the strong increase in Amundi Technology’s revenues (€54m, +28.2%) and financial and other income2 (€67m, +38.2%); performance fees, on the other hand, were down by -2.0% to €88m;
    • Adjusted operating expenses2 are well controlled with an increase of +5.9% compared to the first 9 months of 2023, at €1,356m, resulting in a positive jaws effect;
    • Adjusted cost income ratio2 stands at 52.7%.

    Adjusted gross operating income2 was €1,217m, up +8,9% compared to the first 9 months of 2023, showing a higher growth rate than revenue growth thanks to operating efficiency.

    Income from equity-accounted companies increased by +28.6% compared to the first 9 months of 2023, to €94m.

    Adjusted earnings per share2for the first 9 months of 2024 reached €4.91, up +10.1% compared to the first 9 months of 2023.

    Accounting data for the first 9 months of 2024

    Accounting Net income Group share amounted to €956m and includes non-cash charges related to acquisitions, in particular the amortisation of intangible assets related to distribution and client contracts (-€68m before tax in the 9 months including the corresponding new charges related to Alpha Associates, see details on p. 11), representing a total of -€49m after tax in the first 9 months of 2024.

    Accounting earnings per share for the first 9 months of 2024 reached €4.67.

    To be noted for the fourth quarter and full-year 2024

    Success of the capital increase reserved for employees – The capital increase reserved for employees “We Share Amundi”, announced on 23 September 2024, is expected to be completed tomorrow, 31 October 2024. This operation offered for the seventh consecutive year a subscription of shares at a discount.

    It was once again a great success this year: more than 2,000 employees in 15 countries subscribed to this capital increase, for a total amount of €36.3m. This represents nearly two out of three employees in France and more than two out of five worldwide.        
    This transaction, which is in line with the existing legal authorisations voted by the Shareholders’ Meeting on 12 May 2023, reflects Amundi’s desire to involve its employees not only in the development of the Company but also in the creation of economic value.

    The impact of this transaction on earnings per share will be very limited: the number of shares to be created will be 771,628 (i.e. ~0.4% of the share capital before the transaction).        
    This issue will bring the number of shares making up Amundi’s share capital to 205,419,262 as of 31 October 2024, i.e. a share capital increased to €513,548,155.        
    Employees will now hold around 1.7% of Amundi’s capital, compared to 1.3% before the transaction. In the fourth quarter of 2024, the Amundi Group will record in its consolidated financial statements a charge relating to the subscription discount of €12.3m before tax.

    On the basis of the Finance Bill presented by the French government, an exceptional tax contribution on the profits of large companies would apply to Amundi, whose turnover in France for tax purposes is more than €3bn.

    * * * * *

    APPENDICES

    Adjusted income statement2of the first 9 months of 2024 and 2023

    (€m)   9M 2024 9M 2023 % chg.
    9M/9M
             
    Net revenue – Adjusted   2,573 2,397 +7.3%
    Management fees   2,364 2,217 +6.6%
    Performance fees   88 89 -2.0%
    Technology   54 42 +28.2%
    Net financial & other net income   67 49 +38.2%
    Operating expenses – Adjusted   (1,356) (1,280) +5.9%
    Cost income ratio – Adjusted (%)   52.7% 53.4% -0.7pp
    Gross operating income – Adjusted   1,217, 1,117, +8.9%
    Cost of risk & other   (7) (5) +24.5%
    Equity-accounted companies   94 73 +28.6%
    Income before tax – Adjusted   1,305 1,185 +10.1%
    Corporate tax   (302) (277) +8.8%
    Non-controlling interests   2 3 -25.2%
    Net income, Group share – Adjusted   1,005 910 +10.4%
    Depreciation of intangible assets after tax   (49) (44) +11.6%
    Integration costs net of tax   0 0 NS
    Net income, Group share   956 866 +10.3%
    Earnings per share (€)   4.67 4.25 +10.0%
    Earnings per share – Adjusted (€)   4.91 4.46 +10.1%

    Adjusted income statement2of the third quarter of 2024

    (€m)   Q3 2024 Q3 2023 % chg.
    Q3/Q3    		   Q2 2024 % chg.
    Q3/Q2
                   
    Net revenue – Adjusted   862 780 +10.5%   887 -2.9%
    Management fees   805 737 +9.2%   794 +1.3%
    Performance fees   20 10 +97.3%   50 -58.9%
    Technology   20 14 +41.8%   17 +13.0%
    Net financial & other net income   17 19 -10.6%   26 -34.0%
    Operating expenses – Adjusted   (456) (424) +7.4%   (461) -1.1%
    Cost income ratio – Adjusted (%)   52.9% 54.4% -1.5pp   51.9% +1.0pp
    Gross operating income – Adjusted   406 356 +14.2%   426 -4.8%
    Cost of risk & other   (2) (3) -36.0%   (5) -63.4%
    Equity-accounted companies   33 24 +36.5%   33 -0.1%
    Income before tax – Adjusted   437 377 +15.9%   454 -3.9%
    Corporate tax   (101) (88) +14.9%   (105) -3.8%
    Non-controlling interests   1 1 -23.5%   0 NS
    Net income, Group share – Adjusted   337 290 +16.1%   350 -3.7%
    Depreciation of intangible assets after tax   (17) (15) +17.9%   (17) +1.2%
    Integration costs net of tax   0 0 NS   0 NS
    Net income, Group share   320 276 +16.0%   333 -4.0%
    Earnings per share (€)   1.56 1.35 +15.9%   1.63 -4.0%
    Earnings per share – Adjusted (€)   1.65 1.42 +16.0%   1.71 -3.7%

    Evolution of assets under management from the end of 2020 to the end of September 202417

    (€bn) Assets under management Net

    inflows

    		 Market &

    Forex Effect

    		 Scope effect   Change in AuM
    vs. previous quarter
    As of 31/12/2020 1,729       / +4.0%
    Q1 2021   -12.7 +39.3   /  
    As of 31/03/2021 1,755       / +1.5%
    Q2 2021   +7.2 +31.4   /  
    As of 30/06/2021 1,794       / +2.2%
    Q3 2021   +0.2 +17.0   /  
    As of 30/09/2021 1,811       / +1.0%
    Q4 2021   +65.6 +39.1   +14818  
    As of 31/12/2021 2,064       / +14%
    Q1 2022   +3.2 -46.4   /  
    As of 31/03/2022 2,021       / -2.1%
    Q2 2022   +1.8 -97.75   /  
    As of 30/06/2022 1,925       / -4.8%
    Q3 2022   -12.9 -16.3   /  
    As of 30/09/2022 1,895       / -1.6%
    Q4 2022   +15.0 -6.2   /  
    As of 31/12/2022 1,904       / +0.5%
    Q1 2023   -11.1 +40.9   /  
    As of 31/03/2023 1,934       / +1.6%
    Q2 2023   +3.7 +23.8   /  
    As of 31/06/2023 1,961       / +1.4%
    Q3 2023   +13.7 -1.7   /  
    As of 30/09/2023 1,973       / +0.6%
    Q4 2023   +19.5 +63.8   -20  
    As of 31/12/2023 2,037       / +3.2%
    Q1 2024   +16.6 +63.0   /  
    As of 31/03/2024 2,116       / +3.9%
    Q2 2024   +15.5 +16.6   +8  
    30/06/2024 2,156         +1.9%
    Q3 2024   +2.9 +32.5   /  
    30/09/2024 2,192         +1.6%

    Total over one year between September 30, 2023 and September 30, 2024: +11.1%

    • Net inflows          +€54.5bn
    • Market & exchange rate effects        +€175.9bn
    • Scope effects        -€12.2bn
      (disposal of Lyxor Inc. in Q4 2023, first consolidation of Alpha Associates in Q2 2024)

    Details of assets under management and net inflows by client segments19

    (€bn) AuM

    30.09.2024

    		 AuM

    30.09.2023

    		 % change /30.09.2023 Net flows

    Q3 2024

    		 Net flows

    Q3 2023

    		 Net flows

    9M 2024

    		 Net flows

    9M 2023
    French networks 138 126 +9.1% +1.1 +0.9 +0.3 +4.6
    International networks 167 156 +7.1% -1.6 -1.0 -4.4 -3.2
    o/w Amundi BOC WM 3 4 -26.9% -0.7 -0.5 -0.5 -3.3
    Third-party distributors 377 305 +23.5% +6.8 +2.1 +19.2 +4.1
    Retail 681 587 +16.1% +6.3 +2.0 +15.1 +5.6
    Institutional & Sovereigns (*) 518 489 +6.0% -9.3 +17.9 +1.4 +14.4
    Corporates 113 97 +16.0% +2.3 -3.8 -5.8 -7.4
    Employee savings plans 92 84 +9.8% -0.5 -0.9 +2.5 +2.6
    CA & SG insurers 428 406 +5.3% -1.2 -3.9 +0.5 -9.6
    Institutional 1,151 1,076 +6.9% -8.7 +9.3 -1.4 +0.0
    JVs 360 310 +16.0% +5.3 +2.4 +21.3 +0.7
    Total 2,192 1,973 +11.1% +2.9 +13.7 +35.0 +6.3

    Details of assets under management and net inflows by asset classes19

    (€bn) AuM

    30.09.2024

    		 AuM

    30.09.2023

    		 % change /30.09.2023 Net flows

    Q3 2024

    		 Net flows

    Q3 2023

    		 Net flows

    9M 2024

    		 Net flows

    9M 2023
    Equity 527 443 +18.9% -0.7 +7.0 +0.0 +2.0
    Multi-assets 274 274 -0.0% -15.4 -5.9 -22.3 -17.0
    Bonds 732 624 +17.3% +12.8 +7.7 +36.8 +10.1
    Real, alternative & structured assets 114 124 -8.3% +0.8 -1.1 +1.5 +2.4
    MLT ASSETS excl. JVs 1,647 1,465 +12.4% -2.5 +7.8 +16.1 -2.4
    Treasury products excl. JVs 185 198 -6.5% +0.1 +3.5 -2.4 +8.0
    Assets excl. JVs 1,832 1,663 +10.1% -2.4 +11.3 +13.6 +5.6
    JVs 360 310 +16.0% +5.3 +2.4 +21.3 +0.7
    TOTAL 2,192 1,973 +11.1% +2.9 +13.7 +35.0 +6.3
    o/w MLT assets 1,973 1,745 +13.1% +3.4 +11.3 +34.9 -0.7
    o/w Treasury products 219 229 -4.2% -0.5 +2.5 +0.1 +7.1

    Details of assets under management and net inflows by management type and asset classes19

    (€bn) AuM

    30.09.2024

    		 AuM

    30.09.2023

    		 % change /30.09.2023 Net flows

    Q3 2024

    		 Net flows

    Q3 2023

    		 Net flows

    9M 2024

    		 Net flows

    9M 2023
    Active management 1,136 1,022 +11.1% -7.1 -1.9 +2.2 -15.6
    Equity 208 187 +11.4% -2.3 -1.6 -5.4 -2.5
    Multi-assets 263 265 -0.9% -15.7 -6.3 -23.4 -18.2
    Bonds 665 570 +16.6% +10.8 +6.1 +31.0 +5.1
    Structured products 43 35 +22.3% +0.8 -0.2 +2.7 +2.9
    Passive management 397 319 +24.5% +3.8 +10.8 +12.4 +10.8
    ETFs & ETC 251 192 +31.1% +7.8 +3.6 +17.3 +8.0
    Index & Smart Beta 146 127 +14.5% -4.0 +7.2 -5.0 +2.8
    Real & alternative assets 71 89 -20.5% +0.0 -0.9 -1.2 -0.5
    Real assets 67 63 +4.8% +0.2 -0.3 -0.1 +0.2
    Alternative assets 4 25 -83.8% -0.2 -0.6 -1.1 -0.7
    MLT ASSETS excl. JVs 1,647 1,465 +12.4% -2.5 +7.8 +16.1 -2.4
    Treasury products excl. JVs 185 198 -6.5% +0.1 +3.5 -2.4 +8.0
    TOTAL ASSETS excl. JVs 1,832 1,663 +10.1% -2.4 +11.3 +13.6 +5.6
    JVs 360 310 +16.0% +5.3 +2.4 +21.3 +0.7
    TOTAL 2,192 1,973 +11.1% +2.9 +13.7 +35.0 +6.3

    Details of assets under management and net inflows by geographical areas19

    (€bn) AuM

    30.09.2024

    		 AuM

    30.09.2023

    		 % change /30.09.2023 Net flows

    Q3 2024

    		 Net flows

    Q3 2023

    		 Net flows

    9M 2024

    		 Net flows

    9M 2023
    France 987 903 +9.3% +2.8 +4.1 +12.8 -1.2
    Italy 202 197 +2.7% -10.8 -1.5 -13.8 -2.2
    Europe excl. France & Italy 421 353 +19.2% +1.9 -0.8 +6.0 +6.0
    Asia 458 392 +17.0% +7.4 +3.4 +29.6 -0.3
    Rest of the world 124 129 -4.3% +1.7 +8.4 +0.4 +4.0
    TOTAL 2,192 1,973 +11.1% +2.9 +13.7 +35.0 +6.3
    TOTAL outside France 1,204 1,070 +12.5% +0.1 +9.6 +22.2 +7.5

    Methodology Appendix

    Accounting & adjusted data

    Accounting data – These include the amortization of intangible assets, recorded as other income, and since Q2 2024, other non-cash expenses spread according to the schedule of payments of the earn-out until the end of 2029; these expenses are recognized as deductions from net income, in finance costs.

    The aggregate amounts of these items are as follows for the different periods under review:

    • Q1 2023: -€20m before tax and -€15m after tax
    • Q2 2023: -€20m before tax and -€15m after tax
    • Q3 2023: -€20m before tax and -€15m after tax
    • 9M 2023: -€61m before tax and -€44m after tax
    • 2023: -€82m before tax and -€59m after tax
    • Q1 2024: -€20m before tax and -€15m after tax
    • Q2 2024: -€24m before tax and -€17m after tax
    • Q3 2024: -€24m pre-tax and -€17m after tax
    • 9M 2024: -€68m before tax and -€49m after tax

    There were no significant integration costs recorded in the third quarter as a result of the acquisition of Alpha Associates

    Adjusted data – in order to present an income statement closer to economic reality, the following adjustments are made: restatement of the amortization of distribution contracts with Bawag, UniCredit and Banco Sabadell, intangible assets representing the client contracts of Lyxor and, since the second quarter of 2024, Alpha Associates, as well as other non-cash charges related to the acquisition of Alpha Associates; such depreciation and amortization and non-cash expenses are recorded as a deduction from net revenues.

    Acquisition of Alpha Associates

    In accordance with IFRS 3, recognition of Amundi’s balance sheet as at 01/04/2024:

    • goodwill of €290m;
    • an intangible asset of €50m representing client contracts, depreciable on a straight-line basis until the end of 2030;
    • a liability representing the conditional earn-out not yet paid, for €160m, including an actuarial discount of -€30m, which will be amortized over 6 years.

    In the Group’s income statement, the following is recorded:

    • amortization of intangible assets for a full-year expense of -€7.6m (-€6.1m after tax)
    • other non-cash expenses spread according to the schedule of payments of the earn-out until the end of 2029; These expenses are recorded as deductions from net income, as finance costs.

    In Q3 2024, the amortization of intangible assets was -€1.9m before tax (-€1.5m after tax) and non-cash expenses were -€1.4m before tax (i.e. -€1.1m after tax). Over the first 9 months of 2024, these expenses are respectively -€3.8m and -€2.9m (-€6.6m in total), since they only started in Q2.

    Alternative Performance Measures20

    In order to present an income statement that is closer to economic reality, Amundi publishes adjusted data that excludes the depreciation of intangible assets and, since the second quarter of 2024, Alpha Associates, as well as other non-cash charges related to the acquisition of Alpha Associates.
    Adjusted, normalized data are reconciled with accounting data as follows:

    = accounting data
    = adjusted data
    (m€)   9M 2024 9M 2023   Q3 2024 Q3 2023   Q2 2024
                     
    Net operating income   2,452 2,307   825 747   844
    Technology   54 42   20 14   17
    Net financial income and other income   (1) (13)   (6) (1)   3
    Adjusted net financial income and other income   67 49   17 19   26
                     
    Net revenues (a)   2,505 2,336   838 760,   864,
    – Depreciation of intangible assets before tax   (65) (61)   (22) (20)   (22)
    – other non-cash charges relating to Alpha Associates   (3) 0   (1) 0   (1)
    Net revenues – Adjusted (b)   2,573 2,397   862, 780,   887
                     
    Operating expenses (c)   (1,356) (1,280)   (456) (424)   (461)
    – Integration costs before tax   0 0   0 0   0
    Operating expenses – Adjusted (d)   (1,356) (1,280)   (456) (424)   (461)
                     
    Gross operating income (e) = (a) + (c)   1,149 1,056   382 335   403
    Gross operating income – Adjusted (f) = (b) + (d)   1,217 1,117   406 356   426
    Cost-income ratio (%) -(c)/(a)   54.1% 54.8%   54.4% 55.9%   53.4%
    Cost-income ratio – Adjusted (%) -(d)/(b)   52.7% 53.4%   52.9% 54.4%   51.9%
    Cost of risk & other (g)   (7) (5)   (2) (3)   (5)
    Equity-accounted companies (h)   94 73   33 24   33
    Income before tax (i) = (e) + (g) + (h)   1,237 1,124   413 356   431
    Income before tax – Adjusted (j) = (f) + (g) + (h)   1,305 1,185   437 377   454
    Income tax (k)   (283) (260)   (94) (82)   (98)
    Income tax – Adjusted (l)   (302) (277)   (101) (88)   (105)
    Non-controlling interests (m)   2 3   1 1   0
    Net income, Group share (o) = (i)+(k)+(m)   956 866   320 276   333
    Net income, Group share – Adjusted (p) = (j)+(l)+(m)   1,005 910   337 290   350
                     
    Earnings per share (€)   4.67 4.25   1.56 1.35   1.63
    Adjusted earnings per share (€)   4.91 4.46   1.65 1.42   1.71

    Shareholding

        30 September 2023   31 December 2023   30 September 2024
    (units)   Number

    of shares

    		 % of share capital   Number

    of shares

    		 % of share capital   Number

    of shares

    		 % of share capital
    Crédit Agricole Group   141,057,399 68.93%   141,057,399 68.93%   141,057,399 68.93%
    Employees   3,042,292 1.49%   2,918,391 1.43%   2,751,891 1.34%
    Treasury shares   1,297,231 0.63%   1,247,998 0.61%   958,031 0.47%
    Free float   59,250,712 28.95%   59,423,846 29.04%   59,880,313 29.26%
                       
    Number of shares at end of period   204,647,634 100.0%   204,647,634 100.0%   204,647,634 100.0%
    Average number of shares year-to-date   204,050,516 –   204,201,023 –   204,647,634 –
    Average number of shares quarter-to-date   204,425,079 –   204,647,634 –   204,647,634 –

    Average number of shares on a pro rata basis.

    • The average number of shares is unchanged between Q2 and Q3 2024, it increased by +0.1% between Q3 2023 and Q3 2024 and by +0.3% between the first 9 months of 2023 and the same period of 2024;
    • A capital increase reserved for employees will be carried out on October 31, 2024. 771,628 shares were created (approximately 0.4% of the share capital before the transaction), bringing the share of employees to about 1.7% of the capital, compared to 1.34% at September 30, 2024, before the transaction.                                        

    Financial communication calendar

    • Q4 and Full Year 2024 Results: February 4, 2025
    • Q1 2025 earnings release: April 29, 2025
    • Annual General Meeting: May 27, 2025
    • Q2 and H1 2025 earnings release: July 29, 2025
    • Q3 and 9-month 2025 results: October 28, 2025

    About Amundi

    Amundi, the leading European asset manager, ranking among the top 10 global players21, offers its 100 million clients – retail, institutional and corporate – a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages close to €2.2 trillion of assets22.

    With its six international investment hubs23, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.

    Amundi clients benefit from the expertise and advice of 5,500 employees in 35 countries.

    Amundi, a trusted partner, working every day in the interest of its clients and society.

    www.amundi.com  

    Press contacts:        
    Natacha Andermahr 
    Tel. +33 1 76 37 86 05
    natacha.andermahr@amundi.com 

    Corentin Henry
    Tel. +33 1 76 36 26 96
    corentin.henry@amundi.com

    Investor contacts:
    Cyril Meilland, CFA
    Tel. +33 1 76 32 62 67
    cyril.meilland@amundi.com 

    Thomas Lapeyre
    Tel. +33 1 76 33 70 54
    thomas.lapeyre@amundi.com 

    Annabelle Wiriath

    Tel. + 33 1 76 32 43 92

    annabelle.wiriath@amundi.com

    WARNING

    This document does not constitute an offer or invitation to sell or purchase, or any solicitation of any offer to purchase or subscribe for, any securities of Amundi in the United States of America or in France. Securities may not be offered, subscribed or sold in the United States of America absent registration under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements thereof. The securities of Amundi have not been and will not be registered under the U.S. Securities Act and Amundi does not intend to make a public offer of its securities in the United States of America or in France.

    This document may contain forward looking statements concerning Amundi’s financial position and results. The data provided do not constitute a profit “forecast” or “estimate” as defined in Commission Delegated Regulation (EU) 2019/980.

    These forward looking statements include projections and financial estimates based on scenarios that employ a number of economic assumptions in a given competitive and regulatory context, assumptions regarding plans, objectives and expectations in connection with future events, transactions, products and services, and assumptions in terms of future performance and synergies. By their very nature, they are therefore subject to known and unknown risks and uncertainties, which could lead to their non-fulfilment. Consequently, no assurance can be given that these forward looking statement will come to fruition, and Amundi’s actual financial position and results may differ materially from those projected or implied in these forward looking statements. [In particular, conditions to completion of the announced transaction between Amundi and Victory Capital, may not be satisfied and such transaction may not be completed on schedule, or at all; risks relating to the expected benefits or impact of the transaction on Victory Capital’s and Amundi’s respective businesses are contained in their respective public filings.]

    Amundi undertakes no obligation to publicly revise or update any forward looking statements provided as at the date of this document. Risks that may affect Amundi’s financial position and results are further detailed in the “Risk Factors” section of our Universal Registration Document filed with the French Autorité des Marchés Financiers. The reader should take all these uncertainties and risks into consideration before forming their own opinion.

    The figures presented were prepared in accordance with applicable prudential regulations and IFRS guidelines, as adopted by the European Union and applicable at that date. The financial information set out herein do not constitute a set of financial statements for an interim period as defined by IAS 34 “Interim Financial Reporting” and has not been audited.

    Unless otherwise specified, sources for rankings and market positions are internal. The information contained in this document, to the extent that it relates to parties other than Amundi or comes from external sources, has not been verified by a supervisory authority or, more generally, subject to independent verification, and no representation or warranty has been expressed as to, nor should any reliance be placed on, the fairness, accuracy, correctness or completeness of the information or opinions contained herein. Neither Amundi nor its representatives can be held liable for any decision made, negligence or loss that may result from the use of this document or its contents, or anything related to them, or any document or information to which this document may refer.

    The sum of values set out in the tables and analyses may differ slightly from the total reported due to rounding.

    1        Net income Group share
    2        Adjusted data: excluding amortisation of intangible assets relating to distribution and client contracts as well as other non-cash charges relating to the acquisition of Alpha Associates recorded in net financial income (see note p. 11)
    3        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV
    4        As announced at the time of the publication of the Q2 results, exit in Q3 from a large low-income mandate (€11.6 billion) with a European insurer, in multi-asset; including this exit, net inflows were positive by +€2.9bn in Q3 and +€35bn over 9 months
    5        Medium-Long Term Assets
    6        Excluding JVs
    7        Extraordinary General Meeting of Shareholders of Victory Capital, held on 11 October 2024
    8        Source: TrackInsight Q3 2024
    9        Classified as article 8 or 9 of the SFDR regulation of the European Union
    10        Including JV: €234bn in assets, +€12bn net inflows over 9 months and +€1bn in Q3
    11        50% MSCI World + 50% Eurostoxx 600 composite index for equity markets, average values over each period considered
    12        Bloomberg Euro Aggregate for bond markets, average values over each reporting period
    13        Source: Morningstar FundFile, ETFGI. European & cross-border open-ended funds (excluding mandates and dedicated funds). Data as of the end of June 2024.
    14        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV
    15        Anniversary dates of the funds triggering the recognition of these fees
    16        Source: Morningstar Direct, Broadridge FundFile – Open-ended funds and ETFs, global fund scope, September 2024; as a percentage of the assets under management of the funds in question; the number of Amundi open-ended funds rated by Morningstar was 1063 at the end of September 2024. © 2024 Morningstar, all rights reserved
    17        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV
    18        Lyxor, integrated as of 31/12/2021
    19        Assets under management and flows including assets under advisory, marketed assets and funds of funds, and taking into account 100% of Asian JV’s assets and flows; for Wafa Gestion in Morocco, they are reported in proportion to Amundi’s holding in the capital of the JV; as of 01/01/2024, reclassification of short-term bond strategies (€30 billion in outstandings) as Bonds previously classified as Treasury until that date; Outstanding amounts up to that date have not been reclassified in these tables
    20        See also the section 4.3 of the 2023 Universal Registration Document filed with the AMF on April 18, 2024
    21Source: IPE “Top 500 Asset Managers” published in June 2024, based on assets under management as at 31/12/2023
    22Amundi data at 30/09/2024
    23Boston, Dublin, London, Milan, Paris and Tokyo

    Attachment

    The MIL Network –

  • MIL-OSI Russia: The government has expanded the list of railway infrastructure facilities

    Translation. Region: Russian Federation –

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

    Order dated October 29, 2024 No. 3053-r

    Document

    Order dated October 29, 2024 No. 3053-r

    The new railway, which is necessary for transporting coal from deposits in Krasnoyarsk Krai and Yakutia to ports in Khabarovsk Krai, has been included in the list of railway infrastructure facilities, the construction of which is being carried out at an accelerated pace. The order to this effect was signed by Prime Minister Mikhail Mishustin.

    The railway is being built by a private investor. The new line will connect the Tunguska coal basin, as well as the Elga coal complex with the sea terminals in the area of Cape Manorsky in Khabarovsk Krai. Now this construction is included in the list of objects covered by the federal law “On the specifics of regulating certain relations for the purpose of implementing priority projects for the modernization and expansion of infrastructure.” The document introduces a special legal regime in the construction sector and allows for the acceleration of the implementation of projects for a period of 9 to 21 months.

    The construction of a new railway line will make it possible to relieve the BAM and Trans-Siberian Railway. In addition, the constructed engineering infrastructure – electrical networks and communication networks – will improve the quality of life of people in Siberia and the Far East.

    The signed document introduces changes toGovernment Order of September 7, 2020 No. 2278-r.

    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: Over 600 tons of garbage during navigation: how river waters are cleaned in Moscow

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    The municipal fleet collected more than 600 tons of garbage from the capital’s waters during the navigation period this year. This was reported by the Deputy Mayor of Moscow for Housing and Public Utilities and Improvement Petr Biryukov.

    “Communal vessels were engaged in daily garbage collection from the water surface of the Moscow River and the navigable part of the Yauza, eliminated pollution, and removed silt sediment. In total, they collected over 600 tons of floating garbage, eliminated almost 140 different types of pollution, and removed about 6.5 thousand tons of sand and soil from the bottom,” noted Pyotr Biryukov.

    Thanks to the competent arrangement of the fleet and waste collection bases, the entire water area of the Moscow River within the city boundaries and the navigable section of the Yauza are under 24-hour control. The main efforts to collect floating waste were concentrated in the upper reaches of the Moscow River, which ensured the cleanliness of the riverbed downstream. Garbage collection vessels worked mainly, with small vessels operating in shallow areas. Floating cranes and non-self-propelled barges with tugs were used to extract bottom sediments of sand and soil.

    The head of the city economy complex reminded that the capital’s municipal fleet operates all year round. Even after the end of the seasonal navigation, two vessels with an ice class of up to 20 centimeters remain on the water. Garbage collectors and rapid response boats continue to operate on non-freezing rivers.

    During the inter-navigation period, the bulk of the fleet is moored in winter mooring areas, where maintenance and routine repairs are carried out.

    Sergei Sobyanin: Icebreakers of the municipal fleet patrol the Moscow River every dayThe southern part of the Moscow River water area has been cleared of abandoned ships and floating objects

    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/nevs/item/145940073/

    MIL OSI Russia News –

  • MIL-OSI Australia: National Transfer Pricing Conference: Intragroup financing — More than just whether the price is right

    Source: Allens Insights

    Toby Knight, Anna Sartori and Gidon Waller have published a paper examining the application of transfer pricing, the debt deduction creation rules (DDCR), the new thin capitalisation rules and the general anti-avoidance rule (GAAR) to intragroup financing arrangements.

    The paper was presented by Toby and Anna at the Tax Institute’s National Transfer Pricing Conference held in Melbourne in October 2024. It summarises the relevant law and guidance of the above regimes, considers how each regime could apply to intragroup financing arrangements in particular, and considers possible interactions between each regime.

    A copy of the paper can be accessed below.

    MIL OSI News –

  • MIL-OSI Security: Westchester Valley — Missing person: Help the RCMP find Matthew Bishop

    Source: Royal Canadian Mounted Police

    Cumberland District RCMP is asking for the public’s assistance in locating 31-year-old Matthew Eugene Bishop. He was last seen at approximately 7:30 p.m. on October 29; he’s believed to have been involved in a collision on Hwy. 104 in Westchester Valley.

    Bishop has brown hair and blue eyes. He’s approximately 5’7″ tall, 135 pounds. No clothing description is available.

    When someone goes missing, it has deep and far-reaching impacts for the person and those who know them. We ask that people spread the word through social media respectfully.

    Anyone with information on the whereabouts of Matthew Bishop is asked to contact Cumberland District RCMP at 902-667-3859. To remain anonymous, call Nova Scotia Crime Stoppers, toll free, at 1-800-222-TIPS (8477), submit a secure web tip at www.crimestoppers.ns.ca, or use the P3 Tips app.

    MIL Security OSI –

  • MIL-OSI: LHV Pank updated equity research on EfTEN Real Estate Fund AS

    Source: GlobeNewswire (MIL-OSI)

    LHV Pank updated the equity research and price target of EfTEN Real Estate Fund AS (EfTEN; EFT1T) shares. According to the analysis, the price target for the share was increased from 19,6 euros to 20 euros and the share has a “neutral” rating. The previous price target for the EfTEN Real Estate Fund AS shares was set in January 2024. 

    LHV research points out three main strengths of the EfTEN Real Estate Fund AS: (i) decreasing financial cost base due to falling interest rates; (ii) low vacancy rate; (iii) dividend yield, which is above the level of competitors. 

    The analysis can be found on the LHV Pank Financial Portal. 

    Kristjan Tamla 

    EfTEN Capital AS 

    Managing Director 

    Tel: +372 655 9515 

    E-post: kristjan.tamla@eften.ee 

    The MIL Network –

  • MIL-OSI Economics: Result of the Overnight Variable Rate Reverse Repo (VRRR) auction held on October 30, 2024

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 75,000
    Total amount of offers received (in ₹ crore) 35,525
    Amount accepted (in ₹ crore) 35,525
    Cut off Rate (%) 6.49
    Weighted Average Rate (%) 6.49
    Partial Acceptance Percentage of offers received at cut off rate NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1399

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Auction of traditional vehicle registration marks to be held on November 16

    Source: Hong Kong Government special administrative region

    Auction of traditional vehicle registration marks to be held on November 16
    Auction of traditional vehicle registration marks to be held on November 16
    ***************************************************************************

         The Transport Department (TD) today (October 30) announced that the auction of traditional vehicle registration marks will be held on November 16 (Saturday) in Meeting Room S421, L4, Old Wing, Hong Kong Convention and Exhibition Centre, Wan Chai.     “A total of 350 vehicle registration marks will be put up for public auction. The list of marks has been uploaded to the department’s website, www.td.gov.hk/en/public_services/vehicle_registration_mark/index.html,” a department spokesman said.     Applicants who have paid a deposit of $1,000 to reserve a mark for auction should also participate in the bidding (including the first bid at the reserve price of $1,000). Otherwise, the mark concerned may be sold to another bidder at the reserve price.     People who wish to participate in the bidding at the auction should take note of the following important points:(1) Successful bidders are required to produce the following documents for completion of registration and payment procedures immediately after the successful bidding:(i) the identity document of the successful bidder;(ii) the identity document of the purchaser if it is different from the successful bidder;(iii) a copy of the Certificate of Incorporation if the purchaser is a body corporate; and(iv) a crossed cheque made payable to “The Government of the Hong Kong Special Administrative Region” or “The Government of the HKSAR”. (For an auctioned mark paid for by cheque, the first three working days after the date of auction will be required for cheque clearance confirmation before processing of the application for mark assignment can be completed.) Successful bidders can also pay through the Easy Pay System (EPS). Payment by post-dated cheques, cash or other methods will not be accepted.(2) Purchasers must make payment of the purchase price through EPS or by crossed cheque and complete the Memorandum of Sale of Registration Mark immediately after the bidding. Subsequent alteration of the particulars in the memorandum will not be permitted.(3) A vehicle registration mark can only be assigned to a motor vehicle which is registered in the name of the purchaser. The Certificate of Incorporation must be produced immediately by the purchaser if a vehicle registration mark purchased is to be registered under the name of a body corporate.(4) Special registration marks are non-transferable. Where the ownership of a motor vehicle with a special registration mark is transferred, the allocation of the special registration mark shall be cancelled.(5) The purchaser shall, within 12 months after the date of auction, apply to the Commissioner for Transport for the registration mark to be assigned to a motor vehicle registered in the name of the purchaser. If the purchaser fails to assign the registration mark within 12 months, allocation of the mark will be cancelled and arranged for re-allocation in accordance with the statutory provision without prior notice to the purchaser.     For other auction details, please refer to the Guidance Notes – Auction of Traditional Vehicle Registration Marks, which can be downloaded from the department’s website, www.td.gov.hk/en/public_services/vehicle_registration_mark/tvrm_auction/index.html.

     
    Ends/Wednesday, October 30, 2024Issued at HKT 14:30

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: LCQ15: Dental care professionals

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Lam Chun-sing and a written reply by the Secretary for Health, Professor Lo Chung-mau, in the Legislative Council today (October 30):Question:     Regarding dental care professionals (DenCPs), will the Government inform this Council:(1) of the following information on the Department of Health (DH)’s recruitment exercise for dental hygienists, dental therapists, dental technicians and dental surgery assistants in each of the past five years: the (i) target number of recruits, (ii) number of applicants, (iii) number of persons invited to attend interviews/trade tests, (iv) number of persons who passed the interviews/trade tests, (v) number of appointment letters issued and (vi) number of persons who reported for duty;(2) as the Working Group on Oral Health and Dental Care under the Health Bureau has pointed out in the Interim Report submitted to the Panel on Health Services of this Council in March this year that merely relying on the dentist workforce to meet the needs for enhancing dental care services is insufficient, and suggested that DenCPs play a more significant role in dental care services, whether the authorities have plans to expand the staff establishments of dental hygienists and dental therapists so as to enhance public services; if so, of the details and timetable; if not, the reasons for that;(3) as DH currently provides annual tuition fee sponsorship of $70,000 to students pursuing studies as dental hygienists and dental therapists on the condition that they work in dental clinics under DH or specified non-governmental organisations for one year after graduation, how the authorities plan to attract those graduates to stay and serve in the public healthcare system upon the expiry of the one-year period;(4) as there are views pointing out that the introduction of a statutory registration system for DenCPs (including dental hygienists and dental therapists) with their scope of practice defined under the Dentists Registration (Amendment) Bill 2024 (the Bill) has fundamentally altered the work nature, duties and work complexity of the dental hygienist and dental therapist grades in the Government, whether the authorities will commence a grade structure review for the aforesaid grades to comprehensively examine their entry requirements, qualification requirements for various ranks and remuneration packages; if so, of the timetable and roadmap; if not, the reasons for that;(5) as the authorities indicated during the Second Reading debate on the Bill that they expected the Dental Council of Hong Kong (DCHK) to set up a registration system for DenCPs within three years upon the passage of the Bill, of the timetable and roadmap for the relevant work (including compiling a DenCPs register and drawing up a code of practice); whether they have plans to include dental technicians and dental surgery assistants in the registration system in phases, so as to enhance the protection for users of dental services; if so, of the details; if not, the reasons for that;(6) whether the authorities will consider discussing with DCHK to further relax the scope of practice of dental hygienists to allow them to administer anaesthetic injections for periodontal disease and root canal treatments, as well as other non-invasive treatments, and to include relevant contents such as the procedure for administering anaesthetic injections in the training curriculum of dental hygienists; if so, of the details; if not, the reasons for that;(7) whether the authorities have plans to further expand the participation of DenCPs in the primary healthcare system, including allowing them in the provision of oral healthcare at District Health Centre Expresses and District Health Centres, as well as dental health education and disease prevention services; if so, of the details; if not, whether the authorities will formulate the relevant plans expeditiously; and(8) whether it has considered including DenCPs as healthcare service providers under the Elderly Healthcare Voucher Scheme to encourage the elderly to receive dental care services on a regular basis; if so, of the details; if not, the reasons for that?Reply:President,     The Hong Kong Special Administrative Region (HKSAR) Government established the Working Group on Oral Health and Dental Care (Working Group) in December 2022 to review the policy objectives, implementation strategies, service scopes and delivery models, etc, of oral health and dental care, with a view to safeguarding the oral health of members of the public. The Working Group mentioned in its interim report released in December 2023 that the Government should work in line with the strategies set out in the Primary Healthcare Blueprint and aim at preventing oral diseases and enhancing the oral health of the community on the premise of improving oral health of all citizens. The report also mentioned that it is insufficient to merely rely on the dentist workforce to meet the needs for enhancing dental care services, and that ancillary dental workers, including dental hygienists and dental therapists, could play a more significant role in dental care services.     The HKSAR Government has completed the amendment of the Dentists Registration Ordinance (Chapter 156) (DRO) to modernise the regulatory framework for dentists and ancillary dental workers (including dental hygienists and dental therapists), and increase the manpower resources for dental care profession by gradually increasing training places for dental hygienists and dental therapists. The measures above will contribute to the implementation of the recommendations of the Working Group, allowing ancillary dental workers to play a more significant role in providing more preventive primary dental care services to complement the direction of the Primary Healthcare Blueprint which attaches importance to prevention, early identification and timely intervention.     The consolidated reply in response to the questions raised by the Hon Lam Chun-sing is as follows:Registration system and scope of work of dental care professionals     The amended DRO introduced a statutory registration system for two classes of ancillary dental workers (including dental hygienists and dental therapists) and retitled ancillary dental workers as dental care professionals (DenCPs), so as to ensure their service quality through a more formalised regulatory regime and establish their professional status.     At present, dental hygienists can work in public or private sectors, and may perform preventive dental care (e.g. education, consultation, risk assessment, oral examination, fluoride application and scaling) in accordance with the directions of a dentist who is available in the premises at all times when such work is being carried out. Dental therapists work exclusively under the Department of Health (DH) to provide the School Dental Care Service. Dental therapists may perform preventive dental care and basic curative dental care (e.g. filling, extraction) in accordance with the directions of a dentist who is available in the premises at all times when such work is being carried out.     The amended DRO suitably adjusted the scope of practice of dental hygienists and dental therapists based on a risk-based approach, taking into account the consultation outcome with the sectors and relevant stakeholders. It would enable them, upon training, to perform some lower-risk preventive dental care (e.g. oral examination, education, teeth cleaning and polishing, fluoride application) without the presence of a dentist, and perform scaling in accordance with the directions of a dentist who is present in the same premises. Dental therapists may also perform basic curative dental care (e.g. filling, extraction) in accordance with the directions of a dentist who is present in the same premises.     The statutory registration system for DenCPs would be put in place within three years, and by then the revised scope of work of DenCPs will come into effect. All DenCPs (including dental therapists) will be allowed to provide services outside the DH (including institutions in the public or private sector). During the transitional period, the Dental Council of Hong Kong (DCHK) will develop clear guidelines on the collaborative relationship between dentists and DenCPs and establish the Continuing Professional Development arrangements for DenCPs. At the current stage, the DCHK is focusing on the preparatory work for establishing the registration system as soon as possible and will liaise with the sectors to explore the feasibility of implementing DenCP registration earlier in 2026. When the new registration system is in place, the DCHK will monitor both its implementation and the adaptation of DenCPs to the expanded scope of work to ensure the safety of patients. As things currently stand, the Government has no plan to further expand the scope of work of dental hygienists to perform higher-risk procedures such as injection of local anaesthetics. The Government will maintain dialogue with the dental professions and revisit the scope of practice of DenCPs from time to time, with a view to meeting local dental care service needs.     In view of the actual needs in the community, the Government will examine the necessity for including other classes of DenCPs under the registration system on a risk-based approach. The Government will maintain communication with the dental professions to canvass their views.The role of DenCPs in primary healthcare system     Taking reference to the suggestion of the Working Group, the Government would promote primary dental services appropriate for different age groups and make use of the existing primary healthcare service system. For example, when the manpower supply for dental hygienists has increased, they can provide preventive primary dental services suitable for different age groups at District Health Centres or District Health Centre Expresses, including risk assessment, offering advice on oral care and personal lifestyle, and assisting the citizens in managing their own oral health, so as to put prevention, early identification and timely intervention of dental diseases into action.     Furthermore, the Elderly Health Care Voucher Scheme (EHVS) currently allows eligible elderly persons to choose from private primary healthcare services provided by 14 categories of healthcare professions, including dentists. Following the upcoming establishment of registration system for DenCPs, the preventive primary dental service would be strengthened. Eligible elderly persons can use Elderly Health Care Vouchers to pay for the relevant service charges through dental clinics in future. The Government will review the relevant operational details of the EHVS in a timely manner.Manpower of DenCPs      As at September 2024, there are a total of 614 registered dental hygienists, whereas 226 dental therapists are employed by the DH. To increase the manpower resources for dental care profession, the Government has gradually increased training places for dental hygienists and dental therapists to nearly double from 95 in the 2023/24 academic year to 185 in the 2024/25 academic year.     When the statutory registration system is in place, dental therapists will be allowed to work in private institutions which will broaden their employment opportunities. Establishing a career ladder for DenCPs will, in the long run, attract more individuals to join the industry. To attract more young people to join the industry, the DH has been offering full tuition fee sponsorship since 2023/24 academic year to students studying the programmes for dental hygienists and dental therapists. Dental hygienists and dental therapists who have received the sponsorship are required to work in dental clinics of the DH or other specified non-governmental organisations (NGOs) for at least one year after graduation. The above measures could help provide sufficient manpower in support of dental care services provided by the Government, private institutions and NGOs in future.     Regarding the establishment issue of DenCP grades in the DH, according to the prevailing policy guidelines, the Government may consider conducting a Grade Structure Review (GSR) as necessary in case of fundamental changes in the job nature, level of responsibilities and job complexity of a particular grade, or if there are proven and persistent recruitment and retention difficulties in the grade. For Dental Hygienist grade in the DH, when the relevant provisions of the amended DRO come into effect, given the minimum academic qualification requirement for registration as dental hygienist with the DCHK, the job entry requirements of the Dental Hygienist grade including the Qualification Group of the academic qualification will be changed. The DH is gathering relevant data and information of the Dental Hygienist grade (including their job nature, duties and responsibilities, and recruitment situation) for consideration of conducting a GSR for the grade. The Government will also assess the need for GSR for Dental Therapist grade in accordance with the relevant policy guidelines in due course.      In the past five years, the information of recruitment of dental ancillary grades of the DH is at Annex.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: NSW Parliament passed a bipartisan motion supporting Taiwan’s international participation

    Source: Republic Of China Taiwan 2

    The Ministry of Foreign Affairs （Taiwan) expresses gratitude to the NSW Parliament for passing a bipartisan motion supporting Taiwan’s international participation.
    On October 23, the New South Wales Legislative Council unanimously passed PMB No. 1414 motion, stating that UN General Assembly Resolution 2758 does not assert the People’s Republic of China’s sovereignty over Taiwan, nor does it determine Taiwan’s future status or restrict Taiwan’s rights to participate in UN agencies or other international organizations. The Ministry highly appreciates and sincerely thanks the NSW Parliament for its firm support of Taiwan’s international participation
    In June 2024, the NSW Parliament was the first to pass a motion in the Legislative Council condemning China for bullying elected Australian officials, affirming Taiwan’s democracy, and rejecting any foreign government interference in Australian politics. Subsequently, in August, the Australian Senate passed an urgent motion based on the IPAC model resolution regarding UNGA Resolution 2758, making Australia the first country to adopt such a model. NSW then became the first state parliament in Australia to pass this motion.
    The Ministry of Foreign Affairs thanks the NSW Parliament for raising a voice of justice for Taiwan and calls on the international community to jointly counter China’s misinterpretation of UNGA Resolution 2758 and its attempts to falsely link it with the so-called “One China Principle.” Taiwan will continue to collaborate with Australia and other like-minded partners to defend the rules-based international order and promote regional democracy, peace, and prosperity.

    MIL OSI Asia Pacific News –