NewzIntel.com

Blog

  • MIL-OSI Asia-Pac: Proposed sewerage works for site formation and infrastructure works for public housing developments on Ma On Shan Tsuen Road authorised

    Source: Hong Kong Government special administrative region

    Proposed sewerage works for site formation and infrastructure works for public housing developments on Ma On Shan Tsuen Road authorised
    Proposed sewerage works for site formation and infrastructure works for public housing developments on Ma On Shan Tsuen Road authorised
    ******************************************************************************************

         The Chief Executive in Council has authorised the proposed sewerage works for site formation and infrastructure works for public housing developments on Ma On Shan Tsuen Road. The notice was gazetted today (October 25).     The sewerage works comprise the following:      

    construction of about 1 250 metres of gravity sewers and associated manholes; and
    ancillary works including temporary closure and reinstatement of carriageways, footpaths, central median/refuge islands and pedestrian crossings or parts thereof.

         Details of the sewerage works were published in the Government Gazette on December 22, 2023, and December 29, 2023.

     
    Ends/Friday, October 25, 2024Issued at HKT 12:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: ECC to launch Carbon Reduction Action on November 1

    Source: Hong Kong Government special administrative region

    ECC to launch Carbon Reduction Action on November 1
    ECC to launch Carbon Reduction Action on November 1
    ****************************************************

    The following is issued on behalf of the Environmental Campaign Committee:     The Environmental Campaign Committee (ECC) will officially launch the Carbon Reduction Action next Friday (November 1) to encourage members of the public to change their habits and reduce their carbon footprint by practising low-carbon living in terms of clothing, food, living and travel, with an aim to achieve carbon neutrality by 2050.      Funded by the Environment and Conservation Fund (ECF), the Carbon Reduction Action is organised by the Environment and Ecology Bureau and the ECC, and will be rolled out with support from about 150 strategic and collaboration partners, including public and business organisations, industry groups, non-profit organisations and school sponsoring bodies. Since August of this year, the ECC has been sharing low-carbon living tips related to clothing, food, living and travel through posts and mini-games on the its social media platforms. The upcoming Carbon Reduction Action will further motivate the public to implement what they have learned about carbon reduction in their daily lives. From November 1 until 30, members of the public can enter a lucky draw by sharing their carbon reduction actions regarding clothing, food, living and travel on their personal social media platforms and uploading screenshots to the campaign website with their GREEN$ ID number. Each lucky draw winners will receive two tickets to the “Zero-carbon Concert”, which will be held on January 4, 2025. For more information and terms and conditions of the lucky draw, please visit the campaign website of the Carbon Reduction Action (www.ecc.org.hk/en/publicity/cra.html).      Following the Carbon Neutrality Publicity Campaign launched by the ECC in 2022, the ECC has recently conducted a survey with 1 000 members of the public regarding their understanding of carbon neutrality and their willingness to practise low-carbon living. The survey results showed that over 94 per cent of respondents were aware of carbon neutrality to varying extents, and 96 per cent indicated their willingness to practise low-carbon living in the future. To further encourage the public to turn their intentions into actions, the ECC is launching the Carbon Reduction Action to encourage the public to practise low-carbon living, reduce carbon emissions, and work together to achieve carbon neutrality by 2050. 

     
    Ends/Friday, October 25, 2024Issued at HKT 12:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Busselton Convention and Performing Arts Centre nearing completion

    Source: Australian Executive Government Ministers

    A world-class Convention and Performing Arts Centre in Busselton, Western Australia is a step closer to becoming a reality, with construction set to open in mid-2025. 

    Once completed, the centre, to be named ‘Saltwater’ will be a multi-purpose facility used for a variety of creative, cultural, community and business events. 

    Features of the venue include a 640-seat tiered theatre that can be transformed into an open space with a 1000-person standing capacity, perfect for large trade shows and conventions. 

    Equipped with high performance light and sound equipment, the venue is also ideal for concerts and other musical performances. 

    Significant progress on construction has been made to the façade and interior spaces including the foyer, the Saltwater Gallery, the auditorium and back of house areas. 

    Window frames have been installed and glazing is almost complete. Ceilings, internal wall frames and doors are being progressively installed.

    The project has been funded by the City of Busselton with generous contributions from the Australian Government ($12.2 million), Lotterywest and Rio Tinto.

    Saltwater has been named after the Wadandi (Saltwater People), the Traditional Owners of the land (Undalup) on which this new venue is located. 

    The project supported 377 jobs during construction and will create another 15.1 ongoing jobs. 

    For more information visit: www.saltwaterbusselton.com.au  

    Quotes attributable to Federal Minister for Infrastructure, Transport, Regional Development and Local Government Catherine King:

    “Through our funding for the Saltwater Convention and Performing Arts Centre, the Australian Government is investing in new community facilities including a multi-purpose venue for large performances, conventions and business events.

    “This will result in a fantastic new space for world-class entertainment, national conferences and exhibitions, breathing new life into Busselton’s cultural landscape.”

    Quotes attributable to Senator for Western Australia Louise Pratt:

    “Saltwater will allow an increase in the amount of live music performances and concerts held in the region, which will boost visitation during both the peak and off-peak tourism periods. 

    “It will bring more visitors to Busselton and will be the jewel in the crown of the Busselton Cultural Precinct.” 

    Quotes attributable to Mayor of Busselton Phill Cronin:

    “Saltwater is nearing completion and the countdown to opening has well and truly commenced.

    “Considerable progress has been made and construction is approximately 70 per cent complete.

    “Looking at the construction site from Queen Street, you can see the venue is really starting to take shape now.

    “Window frames have been installed and glazing is almost complete, which contributes to the sense of anticipation that the venue is rapidly moving into the final stage of construction.

    “When I toured the site recently, I could see that significant progress has been made with internal fit out and finishing in key areas including the multi-functional auditorium.

    “You can imagine yourself sitting in the spacious tiered-seat theatre for a show or visualise the area converted to a flat-floor space for a concert.

    “The auditorium will diversify the range of events we can host in Busselton, as it will provide a large enough venue to attract some of Australia’s finest touring theatre productions and concerts to region for the first time in history.

    “Not only has the City secured a diverse range of exciting shows for Saltwater’s first few years of operation, the venue has also been booked for some large national conferences during the off-peak tourism season.

    “On the second floor, you can picture the conference suite set up for a range of different business events and delegates will enjoy beautiful views of the Foreshore Precinct from the alfresco balcony.”

    MIL OSI News –

  • MIL-OSI China: 1st reusable satellite payloads delivered

    Source: China State Council Information Office 2

    Bian Zhigang, deputy head of the China National Space Administration (CNSA), speaks at the payloads handover ceremony held by CNSA in Beijing, capital of China, Oct. 24, 2024. [CNSA/Handout via Xinhua]
    The scientific payloads for space breeding and other sci-tech experiments carried by China’s first reusable and returnable satellite, Shijian-19, were delivered to Chinese and foreign users on Thursday.
    At the payloads handover ceremony held by the China National Space Administration (CNSA) in Beijing on Thursday, the CNSA and the China Aerospace Science and Technology Corporation signed payload delivery certificates with domestic and international users, including those from Thailand and Pakistan.
    Bian Zhigang, deputy head of CNSA, said the Shijian-19 mission fully leverages the advantages of the new generation retrievable space experiment platform, conducting space breeding experiments of about 1,000 species of germplasm resources, providing crucial support for the innovation of germplasm resources in China. The mission has also offered a valuable in-orbit validation opportunity for domestically produced components and raw materials.
    According to Meng Lingjie, director of the Earth Observation System and Data Center under the CNSA, the Shijian-19 mission has made a breakthrough in its recovery module. The satellite platform can be reused more than 10 times, significantly reducing manufacturing costs and improving operational efficiency.
    The satellite serves as a space testing platform that enables convenient transportation of payloads between Earth and space, offering high-quality experimental services, said Meng, adding that it has wide-ranging applications in space sci-tech experiments such as space breeding as well as space pharmaceutical and material manufacturing.

    China successfully retrieved its first reusable and returnable test satellite, Shijian-19, at the Dongfeng landing site in north China’s Inner Mongolia Autonomous Region at 10:39 a.m. (Beijing Time), Oct. 11, 2024, said the China National Space Administration (CNSA). [Photo/Xinhua]
    The satellite carried 500 kg of experiment payloads back to Earth, greatly enhancing the capability for payload recovery, according to Meng. It can also provide a high-quality microgravity environment for experiments.
    When the satellite was in orbit, seven new technology experiments were carried out, including microgravity hydrogen production, low-frequency magnetic communications, inflatable sealed cabin and wireless power transmission.
    The satellite also carried nine space science payloads to conduct research in fields such as carbon nanomaterials and devices, solid catalyst materials, and oral and dental science materials.
    According to Liu Luxiang, executive director general of the Institute of Crop Sciences under the Chinese Academy of Agricultural Sciences, the Shijian-19 mission carried seeds of about 1,800 plant materials and more than 1,000 species of microorganisms, encompassing nearly all major kinds of agricultural products.
    The mission not only provides solid support to China’s space breeding, but also creates a collaboration platform for international counterparts, said Liu, who is also the chief scientist of China’s space breeding project. The satellite carried rice seeds from Thailand, seeds of wheat, rice, corn and beans from Pakistan, as well as crop seeds from other countries.
    “In face of the challenge of global food security, it is necessary to continuously enhance food production, develop new genetic resources that promote nutrition and health, and cultivate new grain varieties that are more resilient to climate change with improved stress tolerance,” Liu said.
    Over the past 30 years, China has developed over 300 crop varieties through its space breeding technologies. These varieties cover an annual cultivation area of about 2 million hectares, with remarkable social and economic benefits, according to Liu.
    The Shijian-19 satellite was sent into orbit from the Jiuquan Satellite Launch Center in northwest China on Sept. 27. It returned to Earth on Oct. 11.

    MIL OSI China News –

  • MIL-OSI China: Global financial community gathers for Sibos 2024 in Beijing

    Source: China State Council Information Office

    This photo shows the opening ceremony of the Swift International Banker’s Operation Seminar 2024 (Sibos 2024) in Beijing, capital of China, Oct. 21, 2024. [Photo/Xinhua]

    The Swift International Banker’s Operation Seminar 2024 (Sibos 2024) taking place for the first time in Beijing signifies that China is welcoming global financial institutions to participate in the development of the financial industry to contribute to its economic growth by offering professional services.

    This is according to Nicole Zhou, Senior Partner at McKinsey & Company, who attended the event from Oct. 21-24 at the China National Convention Center in Beijing. Zhou said the scale of China’s banking institutions is already very large and they are seeking in the next step to become global financial institutions as they support Chinese firms’ overseas operations. “This process will require the professionalized development of the entire banking industry and a financial system that promotes globalization and interconnectivity.”

    At around 6 p.m. on Tuesday, the convention center was still crowded, with its exhibition hall and aisles filled with people from the global financial community discussing business.

    This is the first time Sibos has been held in the Chinese mainland since its inception in 1978. A total of 114 foreign-funded institutions and 19 Chinese-funded institutions participated in the event, including global financial institutions such as J.P. Morgan, Citibank, HSBC, Standard Chartered and Deutsche Bank, as well as financial institutions from emerging markets such as India, the United Arab Emirates and Africa.

    “This is the third time that I attended a Sibos conference. In previous years, it was mostly held in North America and Europe, but this time it is held in Beijing, which not only reflects the rise of China and even Asia’s financial industry but also reflects China’s attitude of embracing the world,” said Zou Xiaonan, head of digital assets, UBS Group Treasury, who flew from London to Beijing for the meeting.

    “DBS benefits from China’s financial liberalization and opening up in multiple ways. First, the financial liberalization and opening up had a significant positive effect on Chinese growth and Chinese integration with the rest of ASEAN, where DBS is active. DBS has sought to capitalize on these trends through our participation in the Cross-border Interbank Payment System, capturing more of the cross-border trade and financing opportunities of Chinese corporations,” said Soon Chong Lim, group head of Global Transaction services at Singapore-based DBS Bank.

    According to Lim, his schedule in Beijing has been very busy. On Tuesday alone, he had already met several dozens of clients at the convention center. Because of the huge gathering, Lim said he couldn’t even book a meeting room and had to talk to clients standing.

    A DBS staff member told Xinhua that DBS Bank took Sibos very seriously and started preparing for it six months ago. As part of its arrangements, the bank offered specially brewed Singaporean coffee and tea at the convention.

    Bill Winters, group CEO of Standard Chartered Bank, who has visited China several times this year, said that China is constantly accelerating the pace of opening up in the financial sector. As the first newly established wholly foreign-owned securities company in China, Standard Chartered Securities China Limited officially commenced its business earlier this year, bringing new opportunities to the group’s business in China.

    Alan Ho, Co-Senior Country Officer for China at J.P. Morgan, said that the pace of China’s financial market opening up has accelerated in recent years. For example, foreign ownership restrictions in local securities, funds and futures companies have been lifted and financial markets’ connectivity mechanisms have been maturing more quickly than expected. “Benefiting from China’s opening up policies, J.P. Morgan now fully owns multiple legal entities in the country, including a locally incorporated bank, a securities company, a futures company and an asset management venture.”

    Apart from traditional financial institutions, fintech companies also benefit from China’s continued financial opening up. On Tuesday, Singapore-headquartered cross-border payments company Thunes launched a payment solution during the Sibos 2024 that aimed to facilitate the payment of foreign nationals in China. The solution will enable overseas e-wallets such as Kenya’s M-Pesa and Singapore’s Singtel Dash to make payments within China by scanning QR codes.

    Thunes CEO Floris de Kort told Xinhua that overseas travelers in China can simply make payments with Thunes function embedded in their e-wallets.

    In 2023, Thunes established a wholly-owned subsidiary in Beijing, which marked important progress in the opening up of the city’s financial sector. “With the continued opening up of the Chinese economy, the cross-border payment industry will also usher in greater opportunities with the increase of payment scenarios,” said de Kort.

    Effie Xin, EY Greater China Financial Services Partner, said that the opening up of the financial sector will help Chinese financial institutions better learn from the advanced experience of global financial institutions. Meanwhile, the connectivity of financial markets can also help promote the status and influence of Chinese currency RMB in cross-border payments, trade and investment, and currency reserves.

    Sibos is the annual conference, exhibition and networking event organized by Swift for the financial industry. Starting out as a banking operations seminar in 1978, it has grown into the premier business forum for the global financial community to debate and collaborate in the areas of payments, securities, cash management and trade.

    Over 10,000 participants from more than 150 countries and regions have gathered for Sibos 2024, which covers a wide range of topics, including payments, digital assets, trade financing, artificial intelligence and sustainable finance.

    MIL OSI China News –

  • MIL-OSI China: China resolutely opposes unilateral sanctions and ‘long-arm jurisdiction’

    Source: China State Council Information Office

    China firmly opposes unilateral sanctions and long-arm jurisdiction, a spokesperson for the Ministry of Commerce (MOC) said on Thursday when responding to a question about U.S. sanctions on Chinese drone-related entities.

    MOC spokesperson He Yadong said that China has strict measures controlling the export of military and related dual-use products, and requires companies that trade controlled items internationally to comply with relevant laws and regulations.

    Since the beginning of the Ukraine crisis, China has issued multiple announcements concerning drone control, and has clearly stipulated that non-controlled civilian drones must not be used for military purposes in violation of regulations. Relevant authorities have strengthened their examination and approval processes for the issuance of drone export permits in accordance with the law, and have intensified their inspection procedures for illegal exports.

    China firmly opposes unilateral sanctions and “long-arm jurisdiction” that have no basis in international law and are not authorized by the United Nations Security Council, the spokesperson said.

    When it comes to malicious acts that sanction or otherwise suppress Chinese companies by citing Russia-related issues, China will resolutely safeguard its legitimate rights and interests, He said.

    MIL OSI China News –

  • MIL-OSI China: Business giants moving to Xiong’an New Area

    Source: China State Council Information Office

    An aerial drone photo taken on Feb. 7, 2024 shows the Xiong’an Science and Technology Innovation Center in Xiong’an New Area, north China’s Hebei Province. [Photo/Xinhua]

    More and more business giants are settling in Xiong’an New Area, North China’s Hebei province, as part of a plan to relieve the national capital Beijing from non-capital functions.

    China Satellite Network Group Co, an enterprise engaged in the design, construction and operation of satellite internet services, has opened its new headquarters in the area’s internet industrial park.

    Making up of a group of low-rise buildings and shaping like a flower when viewed from above, the office complex was completed last month and involved the moving of its headquarters and four subordinate companies on Oct 14.

    The company was the first centrally administered State-owned enterprise to settle down in the area. The SOE will facilitate the gathering of resources in fields such as industry-related companies, technology and talent in Xiong’an and thus promote the development of satellite internet applications and the aerospace information industry.

    As Xiong’an has charted ambitious development plans for the satellite internet sector, many upstream and downstream enterprises and innovation platforms have rushed to the area.

    A national laboratory of aerospace flight technology has been established in the area, according to local media Hebei Daily. Other companies in the sector, including a spatiotemporal information group, have also registered and settled there.

    Sinochem Holdings, a chemical conglomerate, and China Huaneng Group Co, a major power company, have completed their main headquarters buildings in Xiong’an.

    Projects of other companies and institutes, including Sinomine Resource Group Co and Beijing Jiaotong University, also report progress on the construction of their buildings.

    SOEs have set up nearly 300 various types of institutions in Xiong’an, according to the local government.

    Located about 100 kilometers southwest of downtown Beijing, Xiong’an was set up in 2017 as part of a strategy to promote the coordinated development of the Beijing-Tianjin-Hebei region.

    One of its main roles is to serve as the receiver of non-capital functions previously shouldered by Beijing but not essential to Beijing’s role as the capital city, such as universities, company headquarters and research institutions.

    MIL OSI China News –

  • MIL-OSI China: China hosts summit to boost BeiDou applications

    Source: China State Council Information Office

    An aerial drone photo taken on Oct. 24, 2024 shows the outdoor exhibition area of the 3rd International Summit on BDS (BeiDou Navigation Satellite System) applications in Zhuzhou, central China’s Hunan Province. [Photo/Xinhua]

    The 3rd International Summit on BDS (BeiDou Navigation Satellite System) applications kicked off Thursday in Zhuzhou, central China’s Hunan Province, as authorities aim to boost the industry by expanding applications and strengthening international cooperation.

    The two-day summit has attracted more than 1,800 Chinese and international researchers, entrepreneurs and officials. Exhibitors have also set up booths to showcase BDS applications across various sectors, including smart logistics and intelligent transportation.

    “BDS applications are rapidly expanding across key sectors of China’s national economy, with coverage rates surpassing 90 percent in areas such as transportation, energy, natural resources and emergency response,” said Xiang Libin, deputy director of the National Development and Reform Commission and an academician with the Chinese Academy of Sciences.

    A bluebook on the development of the BeiDou industry was also released during the opening ceremony. “BDS services and related products have been exported to more than 130 countries, providing users with diversified choices and better application experience and promoting industrial development,” the bluebook stated.

    The Chinese-made BDS was initiated in 1994. The construction of BDS-1 and BDS-2 was completed in 2000 and 2012, respectively. When BDS-3 was completed and put into service on July 31, 2020, China became the third country to have an independent global navigation satellite system.

    According to the White Paper on the Development of China’s Satellite Navigation and Location Services Industry (2024), the total output value of China’s satellite navigation and location services industry reached 536.2 billion yuan (about 75.2 billion U.S. dollars) in 2023, an increase of 7.09 percent over the previous year.

    A visitor learns about a risk detection device at the 3rd International Summit on BDS (BeiDou Navigation Satellite System) applications in Zhuzhou, central China’s Hunan Province, Oct. 24, 2024. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: Probe into US company PVH Corp underway

    Source: China State Council Information Office

    An investigation into the U.S. firm PVH Corp., led by China’s unreliable entity list mechanism, is advancing in accordance with the law and in an orderly manner, the Ministry of Commerce (MOC) said Thursday.

    “We will fully safeguard PVH’s rights to make statements and defenses during the investigation,” MOC spokesperson He Yadong told a press conference.

    After the investigation, the mechanism office will make decisions based on the results in accordance with the regulations on unreliable entity list, the spokesperson added.

    The U.S. company, which owns fashion brands like Tommy Hilfiger and Calvin Klein, is suspected of boycotting cotton products from China’s Xinjiang Uygur Autonomous Region without any factual basis and terminating normal transactions with Chinese companies as well as other organizations or individuals, according to the ministry.

    China introduced the unreliable entity list mechanism in September 2020 to protect its national interests and business environment. The spokesperson said China has been prudent when handling issues related to the unreliable entity list, which targets only a few foreign entities that disrupt market rules and violate Chinese laws. He added that foreign entities that operate with integrity and abide by the law have no reason to be concerned.

    The Chinese government, as always, welcomes enterprises from around the world to invest and do business in China, and is committed to providing a stable, fair and predictable business environment for foreign companies that abide by the law and regulations, said the spokesperson.

    MIL OSI China News –

  • MIL-OSI China: Green action plan for BREP members

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

    Energy ministers from across the world spoke highly of China’s role in promoting global energy transition and helping developing countries access more affordable clean energies at the Third Belt and Road Energy Ministerial Conference which concluded on Thursday in Qingdao, Shandong province.

    “Creative cooperation with China and initiatives like the Belt and Road Energy Partnership will help us boost our drive toward energy transition across the world,” said Phiona Nyamutoro, minister of state for mineral development in Uganda. “We hope that we get to tap into many opportunities from China, like technological transfer, research and also green financing.”

    BREP was initiated by China’s National Energy Administration and currently has 34 members. It supports countries in formulating more ambitious green energy development plans based on their own energy endowments and development needs, to continuously enhance the reliability and resilience of green energy supplies.

    Iran became a new member this year and in an interview with China Daily, Iranian Minister of Energy Abbas Aliabadi expressed expectations for BREP to have a positive impact on global energy cooperation and promote global development through innovative approaches.

    “Such a collaborative platform to promote cooperation among different countries is beneficial to all parties. I am very pleased with initiatives like those from China, where different countries can raise their issues on this platform and work together to address them,” he said. “China serves as a great example in energy transition, with significant developments in renewable energy that have made substantial contributions to global carbon reduction efforts.”

    Keo Rottanak, Cambodia’s minister of mines and energy, said “Cambodia and China have forged a very strong bilateral relationship, especially through the Belt and Road Initiative which has given benefits to countries around the world, especially developing countries.”

    The Belt and Road Green Energy Cooperation Action Plan (2024-29), released on Wednesday at the conference, advocated that BREP members will carry out no less than five joint research and development projects and no less than five collaborations in areas such as hydrogen energy, new types of energy storage, advanced nuclear power, carbon capture, utilization and storage.

    In the next five years, BREP members will carry out no less than 25 capacity-building projects in the energy sector, and explore the establishment of an international cooperative research platform for clean energy, the action plan noted.

    MIL OSI China News –

  • MIL-OSI China: China willing to share BDS expertise with nations

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

    China is willing to partner with other countries in sharing the development results of the Beidou navigation satellite system, or BDS, especially in exploring its potential in regional short message communication, services and international rescue efforts, a senior official of the National Development and Reform Commission said on Thursday.

    Xiang Libin, deputy minister of the NDRC, said Beidou has been recognized by the International Civil Aviation Organization of the United Nations as a global standard, and that cooperation between China and the African Union as well as the League of Arab States in BDS is intensifying.

    Cooperation agreements have also been signed between China and South Africa as well as Egypt in Beidou applications, he said at the Third International Summit on BDS Applications, which is being held in Zhuzhou, Hunan province from Thursday to Friday to celebrate the 30th anniversary of the establishment of BDS.

    The applications of Beidou in key industries have expanded, with its coverage in transport, energy, natural resources and emergency exceeding 90 percent, he said.

    Beidou has been widely installed in applications for the general public, with 98 percent of smartphones and shared bikes equipped with it.

    Meanwhile, high-accuracy maps based on Beidou have covered the whole country, with daily usage exceeding hundreds of billions of times, he said.

    The country will continue to support the large-scale application of Beidou, push for deep integration of Beidou with intelligent cars, smart agriculture and the low-altitude economy, and empower sectors such as delivery services, low-altitude tourism and emergency rescue, Xiang added.

    Wang Jiangping, deputy minister of the Ministry of Industry and Information Technology, said Beidou has developed into a world-class navigation satellite system and its high-accuracy regional short message communication service has been fully proven to have the ability to serve the whole globe.

    Beidou has been widely used in communication, transport, agriculture, forestry and public security and is serving important infrastructure while also generating significant economic and social benefits, he said.

    By the end of last year, the total output of the country’s satellite navigation and location services industry had exceeded 530 billion yuan ($74.5 billion), while homegrown Beidou chips and modules have exceeded 400 billion pieces and there are a total of 1.4 billion pieces of equipment using the Beidou system, he said.

    The MIIT will continue to accelerate Beidou applications, push for market, industrial and international development of Beidou and enable it to better serve the whole world and bring benefits to all, he added.

    Aarti Holla-Maini, director at the UN Office for Outer Space Affairs, said China is a central member of the International Committee on Global Navigation Satellite Systems and the Beidou navigation satellite system is expanding its applications and services to make it available to both industry and public sector users.

    Space has a crucial role to play in achieving social and economic development, she said via a video link.

    Modern society depends on satellites and data and the many services they provide and enable; this reliance is only going to grow in the future, she said.

    MIL OSI China News –

  • MIL-OSI China: China delivers world’s largest Type B LNG fuel tank container ship

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

    China’s self-developed liquefied natural gas (LNG) dual-fuel container vessel was delivered on Monday in northeast China’s port city of Dalian. The vessel “Maria Cristina” has a capacity of 16,000 TEUs. Equipped with a 13,000-cubic-meter Type B LNG fuel tank, the vessel is the world’s largest Type B LNG fuel tank container ship. It is the first time China has independently developed the entire process of building a Type B LNG fuel tank.

    MIL OSI China News –

  • MIL-OSI China: Coca‑Cola reports rising revenue in Q3

    Source: China State Council Information Office 3

    The Coca-Cola Company reported its third-quarter earnings results Wednesday, with the revenue reaching 11.85 billion U.S. dollars, exceeding the estimate of 11.61 billion U.S. dollars.

    The company’s operating income reached 2.51 billion U.S. dollars, and its net income reached 2.85 billion U.S. dollars. Comparable earnings per share grew 5 percent to 0.77 U.S. dollars, beating estimates.

    “Our business continues to demonstrate resilience in the face of a dynamic external environment,” said James Quincey, chairman and CEO of The Coca-Cola Company.

    In terms of categories, sales of sparkling soft drinks and trademark Coca-Cola were steady. Coca-Cola Zero Sugar grew 11 percent, and tea grew 7 percent, driven by growth in the Asia Pacific, Latin America, Europe, the Middle East and Africa.

    Quincey mentioned the growth potential of the Chinese market, reaffirming the company’s long-term confidence in its prospects. He also stated that the company will continue to invest to seize future growth opportunities.

    In recent years, Coca-Cola China has actively expanded its presence across various regional markets in the Chinese mainland, with a particular focus on deepening its development in the South China market.

    MIL OSI China News –

  • MIL-OSI China: CATL launches new battery for hybrid vehicles

    Source: China State Council Information Office 3

    Aerial photo taken on June 24, 2022 shows the building of the Contemporary Amperex Technology Co., Ltd. (CATL) in Ningde, east China’s Fujian Province. [Photo/Xinhua]

    Contemporary Amperex Technology Co., Ltd. (CATL), China’s leading battery maker, on Thursday unveiled a new battery designed for hybrid vehicles in Beijing.

    The battery, known as Freevoy, is the world’s first hybrid battery with a range of over 400 kilometers and superfast-charging capabilities, and just a 10-minute charge can add a driving distance of more than 280 kilometers, according to Gao Huan, chief technology officer of CATL’s China E-car Business.

    Packing sodium-ion batteries and lithium-ion batteries, Freevoy also addresses the low-temperature limitations of new energy vehicles (NEVs), enabling them to operate in extremely cold environments — temperatures as low as minus 40 degrees Celsius for discharging and minus 30 degrees Celsius for recharging.

    More Chinese consumers are favoring hybrids as they offer a greater driving range than pure EVs and can cost less than gasoline-powered cars.

    Data from the China Association of Automobile Manufacturers shows that the sales of hybrids in the first nine months this year hit 3.32 million units, up 84.2 percent year on year.

    “The penetration rate of hybrid vehicles in the NEV market reached 43 percent, which is a force that cannot be ignored in the electrification process,” said Luo Jian, CATL’s chief marketing officer.

    Freevoy has already been adopted by various Chinese EV enterprises, including Li Auto and AVATR, and is expected to be installed in models made by other carmakers including Geely and Chery.

    According to market research firm SNE Research, CATL’s EV battery consumption volume has ranked first globally for seven consecutive years, holding 36.8 percent of the global EV battery market share in 2023.

    Headquartered in Ningde, east China’s Fujian Province, CATL has inked supply contracts with a slew of global car manufacturers, including BMW, Volkswagen, Daimler and Honda.

    MIL OSI China News –

  • MIL-OSI China: Platform focuses on inclusivity

    Source: China State Council Information Office 3

    Project mBridge — a platform for experimenting with central bank digital currencies (CBDCs) including the e-CNY for cross-border payments — is open to cooperation with traditional payment infrastructure and any US dollar usage, said officials and experts close to the matter.

    They said mBridge primarily focuses on small-value transactions under the current account that have been underserved by banks, aiming at improving the efficiency and inclusiveness of global monetary and payment systems while facilitating cross-border trade and investment, especially among Asia’s emerging economies.

    Lu Lei, deputy governor of the People’s Bank of China, the country’s central bank, said that a CBDC system should not only be interoperable with other CBDC systems, but also with traditional payment systems and other financial market infrastructure modalities, and both are achievable by mBridge.

    “We must avoid new cross-border payment frictions while removing existing ones,” Lu said while addressing a Financial Street Forum event on Wednesday, titled Project mBridge: Bridging Global Economies with CBDCs.

    Lu said that mBridge should step up addressing urgent pain points regarding cross-border payments that are undersupplied by banks — in particular payments in cross-border e-commerce and remittances — due to their small values and high costs.

    Project mBridge resulted from collaboration beginning in 2021 between the Bank for International Settlements’ innovation arm, the Bank of Thailand, the Central Bank of the United Arab Emirates, the Digital Currency Institute of the PBOC and the Hong Kong Monetary Authority. The project aims to tackle inefficiencies in cross-border payments with new technologies.

    Echoing Lu’s remarks, an expert who requested anonymity told China Daily that mBridge is “compatible and inclusive” and is open to be connected with traditional payment systems, including large-value, small-value and rapid payment systems, as well as existing international payment infrastructures.

    “Project mBridge represents a new technological approach. It is inclusive and does not rule out cooperation with anyone,” the expert said.

    The project reached the minimum viable product (MVP) stage in June, inviting private sector firms to propose new solutions and use cases that help develop the platform. The Saudi Central Bank joined mBridge as a participant of the MVP platform in June.

    Among the mBridge participating economies, China, the United Arab Emirates and Saudi Arabia are also BRICS members.

    Lu said the transaction value of mBridge has been growing steadily over the past few months, a telling sign of market confidence in the platform, without giving specific figures.

    In terms of geographical coverage, Lu said mBridge may deepen collaboration with the Association of Southeast Asian Nations and Belt and Road economies, as these economies have close trade ties and stable geopolitical conditions, while cross-border payments and currency services may be underserved.

    “Project mBridge, as a public good, may have a role to play in strengthening collaboration among them and thus facilitate the sound development of the international monetary and payment system,” Lu said.

    Citing the views that mBridge may impede the reputation and usage of the US dollars, Zhou Xiaochuan, vice-chairman of Boao Forum for Asia and a former governor of the PBOC, said that mBridge is primarily aimed at filling in gaps in the international payment system.

    Project mBridge does not exclude US dollar usage, Zhou said at the same event as Lu, adding that relevant developments would depend on efficiency, cost, security and user choice.

    The greenback and other “hard currencies” have been traditionally used in cross-border payments, which cannot fully satisfy demand in Asia in recent years amid the region’s fast development of interconnections, giving rise to the growth of mBridge and other platforms to facilitate cross-border payments within the region, according to Zhou.

    Zhou said that mBridge should first facilitate the payments and settlements of current account transactions, especially small-amount ones, aligning with the demand of Asian economies in terms of economic, trade and travel development.

    As for some opinions that mBridge might have a substitutional relationship with financial telecommunication infrastructure Swift, Zhou said he deems mBridge more as a cross-border payment system.

    MIL OSI China News –

  • MIL-OSI China: Global economy in danger of getting stuck on low-growth high-debt path: IMF

    Source: China State Council Information Office 3

    The International Monetary Fund (IMF) warned on Thursday that the global economy is in danger of getting stuck on a low-growth high-debt path, urging policymakers to act on debt and carry out pro-growth reforms.

    “The global economy is in danger of getting stuck on a low-growth high -debt path, that means lower incomes and fewer jobs. It also means lower government revenues, so less investment to support families and fight long-term challenges like climate change,” IMF Managing Director Kristalina Georgieva said at a press conference during the ongoing 2024 IMF and World Bank Group Annual Meetings.

    Firstly, Georgieva called on policymakers to ensure that inflation gets back to target everywhere, noting that the trick now for central banks is to “finish the job of inflation without unnecessarily damaging the job market.”

    Secondly, “now is the time to act on debt and deficits after years of much-needed fiscal support in response shots. Now is the time to rebuild fiscal buffers in most countries. That can be done gradually, but it needs to start now,” she continued.

    Third and most important, she said, it is crucial that countries carry out pro-growth reforms from cutting red tape to improving governance, noting that IMF analysis shows that these reforms can boost output by 8 percent over four years in developing countries.

    In the latest World Economic Outlook (WEO) released Tuesday, the IMF maintained its global growth forecast in 2024 at 3.2 percent, consistent with its projection in July. Growth prospects for five years from now remain lackluster, at 3.1 percent, the lowest in decades.

    Advanced economies are projected to grow by 1.8 percent this year, while emerging market and developing economies will grow 4.2 percent. The Chinese economy is on track to grow 4.8 percent, according to the projection.

    In response to a question from Xinhua, Georgieva said at the press conference that the IMF will have to carefully assess the measures recently announced by Chinese authorities to be able to determine what exactly is the likely impact, while noting that “there are measures that go in the right direction.”

    The IMF chief noted that for quite some time, China has been faced with a fork in the road: continue with the export-led growth policies or boost domestic consumption, and shift the growth engine to the Chinese consumer. “We are on the view that as the Chinese economy has grown so big, it is the latter, domestic consumption that is the reliable source of growth,” she said.

    In the short term, one big obstacle to consumer confidence is in the property sector, and a decisive action to resolve that would help lift up consumer confidence, she said.

    Looking ahead, “by having social security and pension reform that gives people confidence that they don’t need to save excessively, they can rely on the system, that would mean that they spend more,” she continued.

    “Taking the sectors of the economy that are somewhat less developed from a consumer standpoint, like healthcare, education, elderly care, making services more of a driver for growth, that would help,” she said, adding that “I’m sure the leadership in China is looking into these choices.”

    MIL OSI China News –

  • MIL-OSI China: Singaporean firms eye broader cooperation with China

    Source: China State Council Information Office 3

    Workers get the venue ready for the upcoming 7th China International Import Expo (CIIE) at National Exhibition and Convention Center (Shanghai), east China’s Shanghai, Oct. 22, 2024. [Photo/Xinhua]

    A delegation of nearly 400 representatives from 44 Singaporean businesses will attend China’s upcoming landmark import expo in a bid to seek stronger and high-quality partnerships in both traditional and new sectors.

    Among the participating exhibitors for the 7th China International Import Expo (CIIE), 70 percent are repeat exhibitors, according to the Singapore Business Federation (SBF), the delegation’s organizer. This will be the seventh year for the SBF’s delegation to participate in the CIIE.

    The 7th CIIE is scheduled to be held in Shanghai from Nov. 5 to 10, with participants from 152 countries, regions and international organizations.

    CIIE remains a critical platform for Singapore’s businesses in the Chinese market, said SBF CEO Kok Ping Soon.

    With a total exhibition area of close to 912 square meters, the Singapore Pavilion, which spans across the Consumer Goods Hall, Food & Agricultural Products Hall and Trade in Services Hall, will see Singapore companies showcase a wider range of innovative, high-quality, and reliable products and services.

    The Singapore-China Trade and Investment Forum will also be held on the sidelines of the 7th CIIE in Shanghai, according to the SBF.

    China has been Singapore’s largest trading partner for 11 consecutive years. Singapore is the second-largest source of foreign investment for China and the top destination for Chinese overseas investment.

    According to the SBF National Business Survey 2023/2024, China is one of the top three countries that Singapore businesses have a presence in and is among the top three countries in Asia that Singapore businesses are looking to expand into.

    “We are committed to supporting Singapore companies in furthering their businesses in China, while boosting innovation and ensuring sustained growth through stronger bilateral partnerships,” Kok said.

    MIL OSI China News –

  • MIL-OSI China: ECB rate-setters consider 50-bp rate cut for December

    Source: China State Council Information Office

    Some rate-setters of the European Central Bank (ECB) have floated the idea of a possible 50-basis point rate cut, signaling a shift in focus from inflation concern to growth challenges in the eurozone.

    The prospect of such a cut could be considered during the ECB’s December meeting, when the central bank will decide its next move, according to Portugal’s central bank governor, Mario Centeno. Speaking to CNBC on Wednesday, Centeno cited recent data that could support a more aggressive rate cut.

    Inflation in the euro area unexpectedly fell in September, leading the ECB to lower key interest rates by 25 basis points last Thursday. This marked the third rate cut this year and the first back-to-back rate reduction in 13 years.

    Although ECB President Christine Lagarde insisted that the rate cut was based on the view that the “disinflationary process is well on track,” speculation is growing in the market regarding a potential 50-basic point cut in December.

    Klaas Knot, president of the Dutch Central Bank, expressed confidence that inflation will return to target levels sometime next year, noting that a 50-basis point rate cut should not be ruled out for December.

    In contrast, Austrian central bank chief Robert Holzmann believes that, based on current data, a 50-basis point rate cut is unlikely in December.

    Inflation in the euro area dropped sharply to 1.7 percent in September, down from 2.2 percent in August. This marks the first time inflation has dipped below the 2-percent target since mid-2021.

    Following the governing council meeting last Thursday, Lagarde acknowledged that the inflation figure was a surprise. “I’m not sure we had anticipated that 1.7 percent, nor did anyone else for that matter.”

    An ECB survey of professional forecasters published last Friday adjusted the inflation expectation for 2025, lowering it to 1.9 percent from two percent.

    Lagarde stressed that the fight against inflation is not over and it is still premature for the central bank to claim victory.

    The euro area economy stagnated throughout 2023 and recovery has been slow in 2024. While Lagarde dismissed concerns about a recession, she acknowledged that economic activity has been weaker than expected.

    There are rising concerns that the current restrictive monetary policy may hinder the fragile economic recovery.

    Knot told CNBC that the ECB should be as concerned about undershooting targets as it is about overshooting them. He noted that the ECB can continue to cut rates until it reaches a neutral stance, defined as neither expansionary nor contractionary, particularly if the December projections align with further deterioration in economic data.

    There have been calls for the ECB to lower its key interest rate to the neutral rate, also known as the natural rate, which is neither expansionary nor contractionary. The natural rate is not constant over time and was near zero during the 2010s (equivalent to a nominal rate of two percent), according to an ECB study published in September.

    Given that the current policy rate remains significantly higher than the neutral rate, analysts suggest that the ECB will need to implement further cuts in the future to quickly reach neutral territory.

    MIL OSI China News –

  • MIL-OSI China: Cambodia, China-ASEAN Information Harbor sign MoU to boost digital infrastructure, economy

    Source: China State Council Information Office

    Cambodia and the China-ASEAN Information Harbor Co., Ltd. (CAIH) have signed a memorandum of understanding (MoU) to boost technological innovation, digital infrastructure, and digital economy, said a news release on Thursday.

    The deal was inked in Phnom Penh on Wednesday between Cambodia’s Ministry of Industry, Science, Technology & Innovation (MISTI) and the CAIH under the presence of MISTI’s Undersecretary of State Hul Seingheng.

    The MoU marks a significant step for Cambodia towards enhancing technological innovation and connectivity in the Association of Southeast Asian Nations (ASEAN), the news release said.

    “This agreement aims to leverage advanced digital infrastructure and cutting-edge technologies to promote economic development and improve quality of life across the region,” the news release said.

    Seingheng said the partnership builds on years of collaboration, which gained momentum after a MISTI delegation visited the CAIH in June 2024 and that the visit laid the groundwork for this formalized agreement.

    “This agreement is another milestone in our efforts to enhance digital cooperation and strengthen Cambodia’s science, technology, and innovation ecosystem,” he said.

    “It aims to increase digital connectivity and the exchange of expertise that will benefit both Cambodia and the ASEAN region,” he added.

    Leveraging CAIH’s skills in the digital economy, intelligent interconnection, and data interoperability, the MoU highlights key areas of collaboration, including advanced digital infrastructure, digital economy, and knowledge sharing.

    “Both parties will focus on sectors such as healthcare and tourism, utilizing digital technologies to spur economic growth and elevate living standards,” the news release said.

    Kong Mengke, deputy general manager of CAIH International, expressed enthusiasm for the MoU’s potential.

    “To implement these areas of cooperation, we propose to prioritize the development of a digital government. The next step will be to create a smart governance platform,” he said.

    “We strive to be a ‘super-connector’ of industries, resources, and customers, positioning ourselves as enablers of digital transformation and leaders of the Digital Silk Road,” he said.

    According to the news release, the CAIH is a digital tech company approved by China’s State Council in 2016 in line with the Belt and Road Initiative.

    Its mission is to build and operate the Digital Silk Road and Digital Guangxi, promoting closer ties between China and ASEAN and supporting the 21st Century Maritime Silk Road, it said.

    MIL OSI China News –

  • MIL-OSI New Zealand: Plant elicitors – a vaccine for plants? (BDIS)

    Source: Plant and Food New Zealand – Press Release/Statement:

    Headline: Plant elicitors – a vaccine for plants? (BDIS)

    Plant elicitors have huge potential to help protect New Zealand crops from disease. Acting much like a vaccine, these elicitors allow plants to defend themselves better against disease. Coming from a biological source like seaweed, they offer a more ecologically friendly crop protection option, too.
    This week James Sainsbury from our Ruakura site speaks to Dr Joel Vanneste about his research on the recently Ministry of Business, Innovation and Employment-funded, 5-year project on plant elicitors led by Dr Marie Magnuson and Chris Glasson from Waikato University. Listen along to learn more about plant elicitors and how they could help manage plant diseases, whether in crops or our native trees. To view our catalogue of podcasts, including extra links on some podcasts, please go to our Scigest page: www.plantandfood.com/scigest

    – –

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Op Huia: Police Recover Critical Evidence in relation to Baby Ru’s death

    Source: New Zealand Police (District News)

    As a result of new information, Police investigating the murder of Baby Ru have completed a targeted search in a semi-rural area north of Wellington.

    The concentrated area along Moonshine Road, off State Highway 58, is 20 minutes by car from the Taita home where Ru lived and received the injuries that caused his death on 22 October 2023.

    Items of property highly relevant to the homicide investigation were located during the search and are undergoing forensic examination. 

    Police are not in a position to say exactly what the new information was, but Detective Inspector Pritchard confirmed it did not come from the public.

    “This was information that wasn’t available when Ru died.

    “Part of that work included searching for items that have been deliberately concealed.”

    Detective Inspector Pritchard said Police hope the latest development jogs people’s memory, especially those on Moonshine Road.

    Police are also appealing for sightings of the vehicle that shuttled items from the crime scene.

    “Our message to them is please contact us if you saw something out of place on 22 October last year.” 

    That car is a grey-green 1994 Nissan Sentra, registration TE6972.

    Anyone who has information that may help the investigation is asked to contact Police on 105, quoting file number 231022/1708.

    Information can also be passed to Crime Stoppers on 0800 555 111 or www.crimestoppers-nz.org

    ENDS

    Issued by the Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: Extending the “1+” mechanism to all new drugs on November 1

    Source: Hong Kong Government special administrative region

    Extending the “1+” mechanism to all new drugs on November 1
    Extending the “1+” mechanism to all new drugs on November 1
    *********************************************************************

         The Department of Health (DH) today (October 25) said that according to measures announced in “The Chief Executive’s 2024 Policy Address”, the “1+” mechanism will extend to all new drugs, including vaccines and advanced therapy products, on November 1, 2024, facilitating good drugs for use in Hong Kong. Extending the “1+” mechanism will attract more new drugs from different parts of the world seeking approval for registration in Hong Kong, giving patients more choices and further strengthening the local capacity for drug evaluation while enhancing the development of relevant software, hardware and expertise with a view to progressing towards “primary evaluation”. The Government will complement technological innovation with institutional innovation, developing Hong Kong into an international health and medical innovation hub.     Under the Pharmacy and Poisons Ordinance (Cap. 138), pharmaceutical products must satisfy the criteria of safety, efficacy and quality and be registered with the Pharmacy and Poisons Board of Hong Kong before they can be sold or supplied in Hong Kong. According to the “1+” mechanism that came into effect on November 1 last year, new drugs used for the treatment of life-threatening or severely debilitating diseases that are supported by local clinical data and whose scope of application is recognised by local relevant experts are required to submit approval from one reference drug regulatory authority (instead of two in the past) for application for registration in Hong Kong. The “1+” mechanism will be extended on November 1, applicable to applications for registration of all new drugs.     The DH has announced on its relevant website the arrangement for extending the “1+” mechanism to all new drugs and issued letters to notify relevant stakeholders (including relevant pharmaceutical associations and holders of certificates of drug registration) about the extension measure and relevant details of the “1+” mechanism. For further details, please refer to the Drug Office’s website. The DH will also introduce consultation service for new drug applications under the “1+” mechanism in the first quarter of 2025 to enhance efficiency in processing relevant applications.     Since the implementation of the “1+” mechanism, the DH has received more than 260 enquiries from over 80 pharmaceutical companies, including those from overseas and the Mainland. A total of five new drugs have been approved under this mechanism. These included two new drugs for treating metastatic colorectal cancer, one for treating paroxysmal nocturnal haemoglobinuria, and two new drugs for treating hypercalcaemia in patients with parathyroid carcinoma and in certain patients with primary hyperparathyroidism, bringing new hope for treatment to patients.     The first two new drugs approved under the “1+” mechanism for treating metastatic colorectal cancer have been listed under the category of “Special Drug” on the Hospital Authority (HA) Drug Formulary. Patients prescribed these two drugs under specified clinical applications are only required to pay standard fees and charges, which are substantially subsidised, greatly alleviating their financial burden. The HA will encourage drug manufacturers or suppliers to apply for local registration of unregistered drugs with ongoing needs and continue to liaise closely with the DH regarding the “1+” mechanism.     The Policy Address also announced other measures to expedite the reform of the approval mechanism of drugs. These include putting forward a timetable for establishing the Hong Kong Centre for Medical Products Regulation and charting a roadmap towards “primary evaluation” in the first half of 2025, as well as formulating strategies and measures to facilitate research and development of medical products.

     
    Ends/Friday, October 25, 2024Issued at HKT 12:15

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Joint Media Statement of the 11th Meeting of the ASEAN Ministers Responsible for Culture and Arts (AMCA)

    Source: ASEAN – Association of SouthEast Asian Nations

    The Eleventh ASEAN Ministers Responsible for Culture and Arts (AMCA) Meeting and the AMCA Meetings with Dialogue Partners, including the ASEAN Plus Three, China, Japan and the Republic of Korea, were held on 24 October 2024, in Melaka, Malaysia. Timor-Leste was in attendance as observer.The theme of the 11th AMCA was “Bridging Cultures, Building Futures: Unity in Diversity” underlined the pivotal role of culture and the arts in promoting sustainable and inclusive development towards strengthening ASEAN’s solidarity.

    Download the full statement here.

    The post Joint Media Statement of the 11th Meeting of the ASEAN Ministers Responsible for Culture and Arts (AMCA) appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI New Zealand: Save the Children welcomes announcement of remodelled Ka Ora, Ka Ako Healthy School Lunches Programme

    Source: Save the Children

    Child rights organisation Save the Children has welcomed the announcement of the remodelled Ka Ora, Ka Ako Healthy School Lunches Programme, along with the extended investment to deliver to eligible Early Childhood Centres.
    The new model will continue to provide free healthy school lunches to 242,000 primary and secondary students and an additional 10,000 preschoolers.
    Save the Children Advocacy Director Jacqui Southey, who was part of the Expert Advisory Group for the remodelled programme in her independent capacity, says the extension into ECEs is a welcome addition to the vital programme that improves outcomes for children, as is including children’s views.
    “It is heartening to see in the new programme that hot meals continue to feature and include a favourite, Butter Chicken. It is incredibly positive that though the budget for the programme is much tighter, the new suppliers under the School Lunch Collective have committed to quality, nutritious meals that children will enjoy.”
    In a Save the Children survey conducted earlier this year with more than 3000 children across the country, Kiwi kids unanimously supported providing children with healthy and delicious lunches at school. In the survey, children said the programme was important to them and their friends, with some children stating that they didn’t have a lot of food at home and their lunches at school were really important to them.
    Says Ms Southey: “Children are most impacted by changes to the programme so ensuring their voices were heard as part of the redesign was crucial. Continuing to consult with children on a regular basis is essential to ensure the programme works best for them.”
    Save the Children has long been a supporter of food in school provision, and has seen the success of similar programmes in overseas projects.
    Says Ms Southey: “These insights directly align with the findings of evaluations of the Ka Ora Ka Ako programme here in Aotearoa New Zealand that show that the programme directly improves the wellbeing of children receiving the lunches, and teachers report improved concentration and positive behaviours of their students. A number of principals have credited the programme with improved attendance levels in their schools.
    “Ensuring the best for children has remained at the heart of the redesign of the new model. The Government has committed to funding this programme for the next two years, providing crucial investment toward the wellbeing of children and that supports them and their whānau in this very tough economic climate.
    “We call on New Zealand governments now, and in the future, to get behind this important programme and ensure that it has long term sustainable investment that will see it become permanently embedded as part of a progressive education offering delivered by New Zealand schools.”
    About Save the Children NZ:
    Save the Children works in 120 countries across the world. The organisation responds to emergencies and works with children and their communities to ensure they survive, learn and are protected.
    Save the Children NZ currently supports international programmes in Fiji, Cambodia, Bangladesh, Laos, Nepal, Vanuatu, Solomon Islands and Papua New Guinea. Areas of work include child protection, education and literacy, disaster risk reduction and climate adaptation, and alleviating child poverty.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Commercial jet boat driver sentenced for operating dangerously on a popular South Island river

    Source: Maritime New Zealand

    The need for commercial jet boat operators to have a safety first approach to the routes they take has been highlighted in the prosecution of a driver.
    Today, Patrick Perkins was sentenced in the District Court at Queenstown following a guilty plea for operating a jet boat in a manner which caused unnecessary danger or risk to other persons or property under section 65 of the Maritime Transport Act 1994.
    The charge related to an incident on 30 December, 2022 when Mr Perkins’s jet boat collided with a recreational jet boat on the Clutha River during a commercial run with four passengers on-board. Mr Perkins was the sole director and driver for Go Jets Wanaka Ltd.
    Recreational users of the Clutha are many and varied, from rafts of all types, tyre tubes, kayakers, bathers and recreational jet boaters. The river is close to a large population and easily accessed by all, meaning collisions like this can have devastating outcomes.
    Investigation’s Manager at Maritime NZ, John Maxwell says experts views are that the Clutha is generally not a difficult river to boat.
    “It is predominately a wide deep river with a fast current. It has pressure waves which are best avoided for reasons of passenger comfort and safety, however these hazards can easily be navigated around,” he says.
    Like all rivers in New Zealand, skippers must keep right, if going upstream must give way to vessels coming downstream. In addition, skippers must operate vessels in a manner that is safe and will avoid collision should the risk of collision arise.
    In this case, the driver of the recreational jet boat had spent most of the day parked up downstream to an island in the middle of the river fishing. A spot he regularly went to.
    As the commercial jet boat with four passengers on-board approached the island, where the recreational vessel was waiting, it cut across the river to do a close pass of a rock just downstream of the island.
    “Due to the line, Mr Perkins was unable to see the recreational craft at the head of the island. Despite attempting to take action to avoid collision, the commercial boat struck the recreational craft at about 65 kilometres an hour.
    Fortunately the driver of the recreational jet boat survived, however, he suffered significant injuries and was in hospital for a prolonged period.
    “This incident is a strong reminder to everyone driving jet boats, commercial and recreational, to understand their surroundings, to drive safe lines and to open up corners to ensure visibility. The consequences of failing to do so can be catastrophic for all involved.
    “Everyone deserves to come home safe from a day out on the water,” John Maxwell says.
    Sentencing notes:
    Mr Perkins and convicted and sentenced for one charge under s 65(1) of the Maritime Transport Act 1994.
    The total sentence of $51,727.41:
    – Fine: $4,950 (starting point of $9,000 reduced by 45 per cent to allow for early guilty plea, remorse, payment of reparation and good character).
    – Total reparation of $46,777.41 (which had been paid by Mr Perkins ahead of sentencing). 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: First Responders – Waikato wetland fire update #13

    Source: Fire and Emergency New Zealand

    Fire and Emergency will continue to monitor the Whangamarino wetland fire through the long weekend.
    Incident Controller Mark Tinworth says the fire has now been under control for two full days with no significant flareups.
    “There will still be some fire activity at the site for the foreseeable future.
    “People may still see smoke in the area due to the nature of where this fire is burning underground. People should not be alarmed by this.”
    Friday’s operations saw helicopters and ground crews dampening down the 16 hotspots identified by the drone crew overnight.
    Crews will be in attendance through the long weekend, with air operations supporting as needed.
    There will be no further updates this weekend unless significant developments occur. 

    MIL OSI New Zealand News –

  • MIL-OSI Economics: UK startups secure $12 billion VC funding during Q1-Q3 2024, finds GlobalData

    Source: GlobalData

    UK startups secure $12 billion VC funding during Q1-Q3 2024, finds GlobalData

    Posted in Business Fundamentals

    The UK witnessed the announcement of a total of 877 venture capital (VC) funding deals during January to September (Q1-Q3) 2024, marking a year-on-year (YoY) decline of 15.1%. However, despite the decline in volume, the total disclosed funding value of these deals was up by 9.4% YoY to $12 billion, reveals GlobalData a leading data and analytics company.

    An analysis of GlobalData’s Deals Database revealed that a total of 1,033 VC deals were announced in the UK during Q1-Q3 2023 while the disclosed funding value of these deals stood at $10.9 billion.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The improvement in the total funding value despite a fall in deal volume can be attributed to some big-ticket deals announced during the review period.”

    Some of the notable VC funding deals announced in the UK during Q1-Q3 2024 included $1.05 billion worth of funding raised by Wayve Technologies, $1 billion raised by Abound, $431 million raised by Monzo, and $200 million worth funding raised by DNEG Group, among others.

    Bose adds: “The UK, apart from being the top European market, continues to remain one of the top five global markets for VC funding activity both in terms of deal volume and value.”

    The UK accounted for 7.2% share of the total number of VC deals announced globally during Q1-Q3 2024 while its share of the corresponding disclosed funding value stood at 6.5%.

    Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.

    MIL OSI Economics –

  • MIL-OSI Economics: Citi and Jefferies top M&A financial advisers in oil & gas sector during Q1-Q3 2024, reveals GlobalData

    Source: GlobalData

    Citi and Jefferies top M&A financial advisers in oil & gas sector during Q1-Q3 2024, reveals GlobalData

    Posted in Business Fundamentals

    Citi and Jefferies were the top mergers and acquisitions (M&A) financial advisers in the oil & gas sector during Q1-Q3 2024 by value and volume, respectively, according to the latest financial advisers league table by GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Deals Database reveals that Citi achieved the top position in terms of value by advising on $53 billion worth of deals. Meanwhile, Jefferies led in terms of volume by advising on a total of 15 deals.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Both Citi and Jefferies registered improvement in the volume and value of deals advised by them, respectively, as well as their ranking during Q1-Q3 2024 compared to Q1-Q3 2023. Jefferies’ ranking by volume improved from 11th during Q1-Q3 2023 to the top position during Q1-Q3 2024. Meanwhile, Citi went ahead from occupying the eighth position by value during Q1-Q3 2023 to top the chart by this metric during Q1-Q3 2024.

    “During Q1-Q3 2024, Citi advised on six billion-dollar deals* that also included two mega deals valued more than $10 billion. The involvement in these big-ticket deals helped Citi register a significant jump in terms of value.”

    JP Morgan occupied the second position in terms of value, by advising on $48.9 billion worth of deals, followed by Goldman Sachs with $39.7 billion, Jefferies with $39.5 billion and Evercore with $38.3 billion.

    Meanwhile, Evercore occupied the second position in terms of volume with 15 deals, followed by RBC Capital Markets with 12 deals, Barclays with 10 deals and Lazard with nine deals.

    * ≥ $1 billion

    MIL OSI Economics –

  • MIL-OSI Economics: Wachtell, Lipton, Rosen & Katz and Kirkland & Ellis top M&A legal advisers in oil & gas sector during Q1-Q3 2024, reveals GlobalData

    Source: GlobalData

    Wachtell, Lipton, Rosen & Katz and Kirkland & Ellis top M&A legal advisers in oil & gas sector during Q1-Q3 2024, reveals GlobalData

    Posted in Business Fundamentals

    Wachtell, Lipton, Rosen & Katz and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the oil & gas sector during Q1-Q3 2024 by value and volume, respectively, according to the latest legal advisers league table by GlobalData, , a leading data and analytics company.

    An analysis of GlobalData’s Deals Database reveals that Wachtell, Lipton, Rosen & Katz achieved the top position in terms of value by advising on $71.7 billion worth of deals. Meanwhile, Kirkland & Ellis led in terms of volume by advising on a total of 31 deals.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Interestingly, Kirkland & Ellis was the top adviser by both value and volume during Q1-Q3 2023. While it managed to retain the top position by volume during Q1-Q3 2024, it lost the top position in terms of value by a whisker to Wachtell, Lipton, Rosen & Katz.

    “The total value of deals advised by Wachtell, Lipton, Rosen & Katz increased by close to 10 times and resultantly it witnessed a massive jump in its ranking by value from 17th position during Q1-Q3 2023 to the top position during Q1-Q3 2023. During the review period, Wachtell, Lipton, Rosen & Katz advised on six billion-dollar deals*, that also included two mega deals valued more than $10 billion. The involvement in these big-ticket deals helped Wachtell, Lipton, Rosen & Katz register a massive jump in terms of value.”

    Kirkland & Ellis occupied the second position in terms of value, by advising on $70.3 billion worth of deals, followed by Vinson & Elkins with $59.2 billion, Latham & Watkins with $43.9 billion and Paul, Weiss, Rifkind, Wharton & Garrison with $35 billion.

    Meanwhile, Vinson & Elkins occupied the second position in terms of volume with 22 deals, followed by Latham & Watkins with 21 deals, White & Case with 16 deals and Gibson, Dunn & Crutcher with 14 deals.

    *≥ $1 billion

    MIL OSI Economics –

  • MIL-OSI Economics: South Korea insurance industry to surpass $191 billion by 2029, forecasts GlobalData

    Source: GlobalData

    South Korea insurance industry to surpass $191 billion by 2029, forecasts GlobalData

    Posted in Insurance

    South Korea’s insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 3.4% from KRW 218.3 trillion ($167.1 billion) in 2025 to KRW 249.7 trillion ($191.2 billion) in 2029, in terms of direct written premiums (DWP), according to GlobalData, a leading data and analytics company.

    GlobalData’s Insurance Database reveals that the insurance industry in South Korea is expected to grow by 1.2% in 2024, supported by changing demographics that will lead to an increase in demand for health and retirement pensions products.

    Sneha Verma, Insurance Analyst at GlobalData, comments: “The South Korean insurance industry contracted by 7.5% in 2023 due to slower economic growth which impacted the demand for life insurance products. The growth is expected to bounce back in 2024, supported by a recovery in economy and increase in ageing population.”

    Life insurance and pension is the leading segment in the South Korean insurance industry and is expected to account for an 84% share of the premiums in 2024. After declining by 9.3% in 2023, the life insurance segment is expected to grow by 0.5% in 2024, driven by changing demographic factors, which will drive the demand for health and annuity products. Life insurance and pension is expected to grow at CAGR of 3.1% during 2025-29.

    South Korea is rapidly changing into a super-ageing society. Higher life expectancy and low fertility rates are adding significant pressure on the working age population. As per the Economic and Social Commission for Asia and the Pacific (ESCAP), the share of people aged 65 years and above reached 18.4% in 2023. It is expected to increase sharply and reach 39.4% by 2050, which will support the demand for life insurance.

    Sneha adds: “Increased awareness about health and financial planning will also support life insurance growth in South Korea. The demand for health insurance is increasing due to rising cases of life-threatening diseases. According to the Central Dementia Center of the Ministry of Health and Welfare, the number of dementia cases have increased significantly, and one dementia patient is being identified every 12 minutes.”

    General insurance will account for the remaining 16% share of the DWP in 2024. The segment is expected to grow by 4.9% in 2024 as compared to 4.1% growth in 2023, driven by compulsory lines and increased awareness for liability protection, leading to higher demand for liability insurance products.

    Motor insurance, which is the leading line of business in the general insurance segment, is expected to witness a flat growth in 2024, due to declining vehicle sales. According to Korea Automobile Mobility Industry Association (KAMA), domestic sales decreased by 10.1% to 8,00,000 units in the first half of 2024 compared to 8,90,000 units during the same period in 2023. Weak consumer sentiment driven by economic slowdown and high interest rates have slowed down the sales for new vehicles.

    South Korea is also prone to frequent natural-catastrophic (nat-cat) events, which will support the demand for policies covering fire and natural hazards. As per the National Fire Information System, South Korea has faced 30,316 incidents of fire accidents with a total loss of KRW589.9 billion ($456 million) till October 2024. General insurance is expected to grow at CAGR of 5.1% from 2025-29.

    Sneha concludes: “The South Korean insurance industry is set to experience steady growth over the next five years, with demographic changes driving the demand for life and health insurance. Products catering to the growing needs of a rapidly aging population are expected to be a focus area for insurers over the coming years.”

    MIL OSI Economics –