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  • MIL-OSI NGOs: Israel/Lebanon: Branches of Hezbollah-affiliated financial institution not military targets

    Source: Amnesty International –

    The Israeli military’s targeting of branches of Qard al-Hassan, a non-profit financial association affiliated with Hezbollah, with over 30 branches across Lebanon, likely violates international humanitarian law and must be investigated as a war crime, Amnesty International said today.

    Under the laws of war, branches of financial institutions are civilian objects unless they are being used for military purposes. Therefore, these attacks likely constitute a direct attack on civilian objects.

    At 8:55pm on 20 October 2024, the Israeli military’s Arabic spokesperson announced on X (formerly Twitter) that its forces would begin “attacking infrastructure belonging to the Hezbollah’s Qard al-Hassan” instructing residents to get away from those branches immediately. The first strike was reported 35 minutes later at around 9:30 pm. Lebanese state media reported a total of 11 strikes on Qard al-Hassan buildings in the southern suburbs of Beirut, as well as several other branches in other parts of the country, including the south and the Bekaa.

    Qard al-Hassan, operating under a license granted by the Lebanese government, is currently Lebanon’s biggest microcredit provider.  It is used by many Lebanese civilians, predominantly Shiites, to access small, interest-free loans.  Many Lebanese people from various sects have increasingly relied on Qard al-Hassan for loans to pay for education, health care and small businesses, particularly since the collapse of Lebanon’s banking sector in 2019. It has been under US sanctions since 2007.

    Israeli forces have targeted an institution that serves as an economic lifeline for countless Lebanese civilians

    Erika Guevara Rosas, Senior Director for Research, Advocacy, Policy and Campaigns

    “Israeli forces have targeted an institution that serves as an economic lifeline for countless Lebanese civilians. This, along with an evacuation warning issued less than 40 minutes before the start of the strikes, shows Israel’s disregard for international humanitarian law. Even if as the Israeli military alleges, the institution does provide financing to Hezbollah, it is not likely to meet the definition of a military objective, particularly for branches serving civilian customers,” said Erika Guevara Rosas, Amnesty International’s Senior Director for Research, Advocacy, Policy and Campaigns.

    “Under international humanitarian law, attacks against civilians and civilian objects are prohibited. An international investigation into the attacks on Qard al-Hassan must be urgently initiated. In the meantime, the Israeli military must take all necessary steps to safeguard civilian lives and strictly adhere to international humanitarian law. Israeli forces must maintain a clear distinction between military objectives and civilian objects at all times. Israel must abandon a definition of military objectives that is so broad as to include branches of a financial institution.”

    According to customary international humanitarian law, an object must meet two criteria to be classified as a military objective. First, it must effectively contribute to military action, based on its location, nature, purpose or use. Second, destroying the object must provide a definite military advantage in the circumstances ruling at the time.

    International humanitarian law prohibits direct attacks against “civilian objects,” such as homes and apartments, businesses and shops, unless these buildings are being used for military purposes. Having an association with Hezbollah is not sufficient to classify a civilian building or the civilians inside it as military objectives.

    Many of Qard al-Hassan’s branches and offices are located in residential buildings and in the middle of densely populated residential areas. Hundreds of residents had to flee their homes after the Israeli military issued several evacuation warnings.

    A senior Israeli intelligence official was quoted in the media stating that in addition to hindering the ability of Hezbollah to function and rebuild following the war, “the main objective is to affect trust between Hezbollah and a lot of the Shiite community that uses this association as a banking system”. Undermining the trust between Hezbollah and the Shiite community is not a lawful justification for militarily targeting an institution.

    MIL OSI NGO –

  • MIL-OSI Economics: Federal Court Decision to Grant Biological Opinion Relief is Welcome News

    Source: National Ocean Industries Association – NOIA

    Headline: Federal Court Decision to Grant Biological Opinion Relief is Welcome News

    For Immediate Release: Monday, October 21, 2024NOIA .org
    Federal Court Decision to Grant Biological Opinion Relief is Welcome News
    Washington, D.C. – National Ocean Industries Association President Erik Milito issued the following statement after a federal court granted the National Marine Fisheries Service (NMFS) more time to complete a new Biological Opinion (BiOp) for the U.S. Gulf of Mexico. Under a previous ruling, the BiOp would have been vacated effective December 20, 2024, threatening to halt new and existing oil and natural gas production and activity in the region. Today’s decision grants NMFS until May 21, 2025 to complete a new BiOp.
    “We are pleased with the court’s decision to grant the requested relief, allowing the federal government additional time to issue a new Gulf of Mexico Biological Opinion. This ruling is crucial for maintaining our energy security, affordability, and national security, all of which depend on the uninterrupted supply of oil and gas from the Gulf of Mexico.
    “It has become readily apparent to elected officials on both sides of the aisle that an impairment of production from the Gulf of Mexico could lead to a cascading effect throughout the American economy, delivering an unwelcome blow to consumers still reeling from inflationary impacts.
    “The Gulf of Mexico is a powerhouse in the global energy landscape. If it were a country, it would rank among the top twelve oil producers worldwide. This region supports nearly 435,000 jobs, produces approximately two million barrels of oil daily, and funds essential conservation and coastal resilience programs. Its role as a vital and well-established energy hub is indispensable to the U.S. economy and national security.
    “Potential permitting and operational delays or logjams pose significant risks, injecting unnecessary uncertainty into this critical sector. We must continue to support and protect the Gulf of Mexico’s energy production to ensure stability and growth for our nation and reduce dependence on volatile global markets and adversarial nations such as Russia or Iran.”
    ##
    About NOIA The National Ocean Industries Association (NOIA) represents and advances a dynamic and growing offshore energy industry, providing solutions that support communities and protect our workers, the public and our environment.

    MIL OSI Economics –

  • MIL-OSI Economics: Top 25 global banks navigate market shifts with 4% gain in MCap in Q3 2024, reveals GlobalData

    Source: GlobalData

    Top 25 global banks navigate market shifts with 4% gain in MCap in Q3 2024, reveals GlobalData

    Posted in Business Fundamentals

    The aggregate market capitalization (MCap) of the top 25 global banks went up by 4% to $4.27 trillion quarter-on-quarter (QoQ) during the third quarter (Q3) ended 30 September 2024. This growth was fueled by interest rate cuts from several central banks, including the US Federal Reserve and the European Central Bank, alongside stronger-than-expected US economic performance, according to GlobalData, a leading data and analytics company.

    Royal Bank of Canada (RBC) and Bank Central Asia (BCA) stocks recorded over 15% growth, while Charles Schwab saw a decline of nearly 12% in market value. JPMorgan Chase retained its position as the most valuable bank for the tenth consecutive quarter, reflecting resilient performance amidst evolving economic landscapes.

    Murthy Grandhi, Company Profiles Analyst at GlobalData, comments: “The third quarter of 2024 concluded with healthy returns across most major asset classes, despite periods of market turbulence. Early August saw stocks come under pressure, driven by weaker US economic data, an interest rate hike by the Bank of Japan, and thin summer trading volumes. However, the Federal Reserve’s much-anticipated rate cuts in September, combined with a softer stance from Japanese policymakers and fresh stimulus measures in China, helped ease investor concerns and fuel a strong stock market rally by the end of the quarter.”

    As inflation eased and economic activity remained subdued, several other Western central banks followed suit in cutting rates. The European Central Bank implemented its second-rate reduction in September, lowering interest rates to 3.5%. Similarly, the Bank of England commenced its own easing cycle, introducing a 25-basis point cut during its August meeting.”

    In Q3 2024, RBC’s stock value surged 17.2%, driven by a 17% increase in earnings from its personal and commercial banking segment, which reached CAD2.49 billion ($1.80 billion), including a CAD198 million boost from its CAD13.5 billion acquisition of HSBC’s domestic operations. RBC’s overall profit rose 16% to CAD4.5 billion, surpassing expectations. Similarly, BCA’s market value climbed 15.1%, ending the quarter with a market cap of $83.3 billion, fueled by strong quarterly results and optimism about future performance.

    JPMorgan Chase reinforced its global leadership with a 22% rise in net revenue to $50.2 billion, largely driven by a 41% increase in net interest income and gains from Visa shares.

    Meanwhile, Charles Schwab’s market cap fell to $118.6 billion due to reduced interest revenue and regulatory scrutiny, partly linked to its cash sweep program financing the 2020 TD Ameritrade acquisition.

    Overall, for the nine months ended Sept 2024, Wells Fargo lost $13 billion in market value due to persistent regulatory challenges stemming from past scandals and inconsistent earnings performance. The bank is working to lift a $1.95 trillion asset cap imposed by the Federal Reserve. Recent assessments revealed insufficient safeguards against money laundering has limited its ability to expand in deposit intake and trading.

    Grandhi concludes: “As the Fed begins its easing cycle, Q4 2024 market focus will shift to the US elections, with the outcome likely to have an impact on the country’s fiscal policy, debt, and trade, especially tariffs. Potential policy changes could stoke inflation, while escalating geopolitical risks may hit consumer confidence and trigger market selloffs, driving investors toward safer assets amidst global uncertainty.”

    MIL OSI Economics –

  • MIL-OSI Economics: Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – The National Co-operative Bank Ltd., Bangalore – Extension of Period

    Source: Reserve Bank of India

    The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The National Co-operative Bank Ltd., Bangalore vide Directive No. BLR.DOS.SSMS.No.S836/09-01-112/2023-2024 dated July 24, 2023, for a period of six months up to close of business on January 24, 2024, as modified from time to time which were last extended up to close of business on October 24, 2024 vide Directive DOR.MON/D-34/12-23-112/2024-2025 dated July 22, 2024. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond close of business on October 24, 2024.

    2. Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from close of business on October 24, 2024, to close of business on January 24, 2025, subject to review.

    3. All other terms and conditions of the Directive under reference shall remain unchanged.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1352

    MIL OSI Economics –

  • MIL-OSI Economics: Risks facing the global economy

    Source: Bank for International Settlements

    While the global economy remains on track for a soft landing, the path ahead is not without risks. Real rates may remain higher than they were before the pandemic as central banks deal with a structurally more inflation-prone landscape. Fiscal policy may not be restrained enough to ensure financial stability. Productivity growth may remain sluggish in most advanced economies. Markets may be volatile, with potential spillovers to financial intermediaries. To guard against these risks and ensure resilience and stability, prudent monetary policy, fiscal consolidation and structural reforms are all necessary.

    MIL OSI Economics –

  • MIL-OSI: ZENMEV, a Pioneer in the New Era of Crypto Staking Platforms, Announces Its Launch

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, Oct. 22, 2024 (GLOBE NEWSWIRE) — ZENMEV, a leader in cryptocurrency investment, proudly announces the launch of a groundbreaking blockchain platform designed to revolutionize the staking landscape. With a vision to create transparent and profitable staking opportunities, ZENMEV aims to set a new standard that enables both individual and institutional investors to achieve stable returns.

    In recent years, the concept of Maximum Extractable Value (MEV) has emerged as a crucial element in decentralized finance (DeFi). MEV refers to the maximum profit that miners or validators can extract by reordering transactions within a blockchain. As blockchain technology has evolved, particularly with Ethereum’s transition from Proof of Work (PoW) to Proof of Stake (PoS), the complexity surrounding MEV has increased, presenting both challenges and opportunities for users.

    ZENMEV’s staking platform is specifically designed to maximize the potential of MEV, providing access to favorable opportunities that were once only available to advanced traders. By utilizing its own blockchain infrastructure optimized for MEV strategies, ZENMEV enhances the transparency and efficiency of the staking process. The platform eliminates intermediaries and centralizes operations, offering users greater reliability.

    Moreover, the platform integrates both Ethereum (ETH) and Binance Smart Chain (BNB) as its core ecosystems, providing compatibility and cross-chain functionality to maximize staking returns. Users can seamlessly deposit and stake digital assets like Ethereum and stablecoins such as Tether (USDT), which are pooled to support ZENMEV’s proprietary MEV strategies. Profits are distributed proportionally among stakers, ensuring transparency in how contributions are utilized and rewarded.

    ZENMEV: Revolutionizing Cryptocurrency Staking with AI-Powered MEV Strategies

    ZENMEV introduces a new paradigm in cryptocurrency staking and investment by leveraging cutting-edge technology and AI-powered analytics to help users understand the complexities of MEV and maximize their staking potential. With a focus on transparency and profitability, ZENMEV provides robust protection mechanisms and strategies, enabling investors to generate greater returns in the cryptocurrency market.

    Addressing the Complexity of MEV

    Within decentralized networks, users often encounter MEV—often described as an “invisible tax”—during transactions. MEV occurs when miners or validators manipulate the order of transactions for profit, potentially leading to losses for the user. ZENMEV tackles this issue head-on by employing advanced algorithms to identify MEV opportunities and monitor transactions in the mempool to accurately pinpoint profitable execution moments. This allows users to engage in more efficient transactions while mitigating the risks associated with MEV.

    Innovative Staking Solutions

    ZENMEV offers a staking system that minimizes MEV-related risks while maximizing profitability. The platform is designed with a user-friendly interface and fosters a fair competitive environment, enabling cryptocurrency investors to participate equally, regardless of their investment size.

    By integrating AI, ZENMEV utilizes machine learning and deep learning techniques to analyze vast amounts of data and predict market trends. This empowers users with real-time insights during the staking process, allowing for more informed decision-making.

    AI-Driven Profitability Maximization

    By incorporating AI, ZENMEV enhances the efficiency of cryptocurrency staking. The platform minimizes transaction latency and executes automated MEV strategies, enabling users to maximize their returns. Real-time data analysis powered by AI is provided to users, ensuring that ZENMEV’s strategies are continuously optimized for the best outcomes.

    With high-performance trading systems, ZENMEV offers users a more efficient staking experience. The platform prioritizes ethical and transparent MEV extraction, operating in ways that avoid negative impacts on the network’s stability.

    User Education and Community Engagement

    ZENMEV recognizes the importance of education in the rapidly evolving DeFi environment and provides comprehensive resources to help users navigate the complexities of the cryptocurrency market. By fostering active communication within the community, ZENMEV shares valuable insights and knowledge, empowering users to make better decisions.

    ZENMEV’s Vision for the Future

    ZENMEV plans to expand beyond Ethereum and Binance Smart Chain, integrating additional blockchain networks such as Solana and Cosmos. This multi-chain approach will allow users to take advantage of staking opportunities across various networks. Additionally, ZENMEV is focusing on developing advanced AI capabilities to enhance the platform’s predictive abilities, continuously improving users’ ability to generate returns.

    The platform’s long-term vision also includes the introduction of a governance model, allowing stakers and token holders to vote on platform upgrades and the implementation of new MEV strategies. This participatory approach ensures that the platform grows in alignment with the community, fostering a sense of belonging and engagement among users.

    In Conclusion, ZENMEV is opening new possibilities in the cryptocurrency staking space with its AI-powered MEV strategies and innovative staking solutions. By prioritizing transparency and ethical operations, ZENMEV is helping investors maximize their returns while paving the way for a more inclusive and sustainable future in cryptocurrency investing.

    Media Contact

    Brand: ZENMEV

    Contact: Media team

    Email: support@zenmev.com

    Website: https://zenmev.com

    The MIL Network –

  • MIL-OSI: Defiance Launches XMAG The First ETF Offering Exposure to the S&P 500 Excluding the “Magnificent 7” Tech Giants

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Oct. 22, 2024 (GLOBE NEWSWIRE) — Defiance, a leading innovator in exchange-traded funds (ETFs), today announces the launch of the Defiance Large Cap Ex-Magnificent Seven ETF (XMAG). The ETF will be the first of its kind, offering investors exposure to equities in the S&P 500 without the inclusion of the Magnificent Seven (“Mag 7”) (Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla). XMAG offers a unique opportunity for investors to access the broader market while reducing concentration risk in these dominant tech stocks.

    Many investors that use diversified investment funds have seen their portfolios increasingly concentrated in exposure to the Mag 7, which represent large holdings across tech-, growth-, and innovation-focused strategies.

    “We have heard loud and clear from institutional investors and advisors that they’re increasingly concerned about their sizable exposure to the Mag 7,” said Sylvia Jablonski, CEO and CIO of Defiance ETFs. “Even clients who believe that the Mag 7 will continue to grow have seen their portfolios become engulfed by these companies, and they’re looking for a solution. With XMAG, we’re providing the market with the broad-based, diversified exposure that investors have always sought with the S&P 500. In offering this in an ETF, we’re making the process of screening seven companies out of an index of 500 more efficient, and we’re excited to see the market’s reception to it.”

    About The Index

    The BITA US 500 ex Magnificent 7 Index aims to provide a comprehensive and balanced representation of the U.S. equity market by including the largest 500 publicly traded securities, while specifically excluding the seven largest technology giants commonly referred to as the “Magnificent 7.”

    This approach ensures more diversified exposure, mitigating the overconcentration risks associated with the market’s most dominant funds. The index constituents are weighted based on free-float market capitalization and rebalanced quarterly. Index values are disseminated on an end-of-day basis.

    About Defiance ETFs

    Founded in 2018, Defiance is a leading ETF issuer specializing in leveraged and thematic ETFs. Our suite of first-mover products allows investors to take targeted positions on disruptive innovations.

    Contact:
    Frank Taylor / Sarah Lazarus
    Defiance@DLPR.com

    Important Disclosures

    Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments, LLC (“Tidal” or the “Adviser”).

    The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. Please read the prospectus and / or summary prospectus carefully before investing. Hard copies can be requested by calling 833.333.9383.

    Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single industry or country, may be subject to a higher degree of risk.

    Tracking Error Risk. As with all index funds, the performance of the Fund and the Index may differ from each other for a variety of reasons.

    Large-Capitalization Investing. The securities of large-capitalization companies may be relatively mature compared to smaller companies and therefore subject to slower growth during times of economic expansion. Large-capitalization companies may also be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.

    Market Events Risk. The Fund’s investments are subject to changes in general economic conditions, general market fluctuations and the risks inherent in investment in securities and other financial instruments. Investment markets can be volatile and prices of investments can change substantially due to various factors.

    Passive Investment Risk. The Fund is not actively managed and does not attempt to outperform the Index or take defensive positions in declining markets. As a result, the Fund’s performance may be adversely affected by a general decline in the market segments relating to the Index.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Diversification does not ensure a profit nor protect against loss in a declining market.

    Brokerage Commissions may be charged on trades.

    The Fund holds 0% in Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla.

    XMAG is distributed by Foreside Fund Services, LLC.

    A photo accompanying this announcement is available at: 
    https://www.globenewswire.com/NewsRoom/AttachmentNg/1578c4c6-57a2-4dc4-b82f-5a180fbc8052

    The MIL Network –

  • MIL-OSI: HSBC Bank Plc – Form 8.5 (EPT/RI) – Learning Technologies Group plc

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.5 (EPT/RI)

    PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
    Rule 8.5 of the Takeover Code (the “Code”)

    1.         KEY INFORMATION

    (a) Name of exempt principal trader: HSBC Bank Plc
    (b) Name of offeror/offeree in relation to whose relevant securities this form relates:
         Use a separate form for each offeror/offeree    		 Learning Technologies Group plc
    (c) Name of the party to the offer with which exempt principal trader is connected: OFFEROR: GASC APF, L.P. and certain of its managed or advised funds (including Atlantic Park), accounts and/or affiliates (collectively, General Atlantic)
    (d) Date dealing undertaken: 21 October 2024
    (e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer?
         If it is a cash offer or possible cash offer, state “N/A”    		 N/A      

    2.         DEALINGS BY THE EXEMPT PRINCIPAL TRADER

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchases/ sales

     

    		 Total number of securities Highest price per unit paid/received
    (GBP)    		 Lowest price per unit paid/received
    (GBP)
     

    Ordinary Shares

    		  

    Purchase

    		 29,583 93.454 p 92.530 p
    Ordinary Shares Sale 948 92.756 p 92.530 p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description Nature of dealing Number of reference securities Price per unit (GBP)
    e.g. CFD e.g. opening/closing a long/short position, increasing/reducing a long/short position
    ­ Ordinary shares Swap Increasing a short position 695 92.702 p
    ­ Ordinary shares Swap Increasing a short position 1 93.309 p
    ­ Ordinary shares Swap Increasing a short position 538 93.454 p
    ­ Ordinary shares Swap Increasing a short position 879 92.702 p
    ­ Ordinary shares Swap Increasing a short position 680 93.454 p
    ­ Ordinary shares Swap Increasing a short position 1 93.309 p
    ­ Ordinary shares Swap Increasing a short position 2,470 92.702 p
    ­ Ordinary shares Swap Increasing a short position 1,904 93.454 p
    ­ Ordinary shares Swap Increasing a short position 2,379 92.702 p
    ­ Ordinary shares Swap Increasing a short position 1 93.309 p
    ­ Ordinary shares Swap Increasing a short position 1,834 93.454 p
    ­ Ordinary shares Swap Increasing a short position 2,361 93.454 p
    ­ Ordinary shares Swap Increasing a short position 3,063 92.702 p
    ­ Ordinary shares Swap Increasing a short position 2 93.309 p
    ­ Ordinary shares Swap Increasing a short position 2 93.309 p
    ­ Ordinary shares Swap Increasing a short position 1,274 93.454 p
    ­ Ordinary shares Swap Increasing a short position 1,651 92.702 p
    ­ Ordinary shares Swap Increasing a short position 3 93.309 p
    ­ Ordinary shares Swap Increasing a short position 3,873 93.454 p
    ­ Ordinary shares Swap Increasing a short position 5,024 92.702 p

    (c)        Stock-settled derivative transactions (including options)

    (i)         Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
                   

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit
             

     

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
       

     

    		    

    3.         OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included.  If there are no such agreements, arrangements or understandings, state “none”
     

    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
    (i)  the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
     

    None
    Date of disclosure: 22 October 2024
    Contact name: Dhruti Singh
    Telephone number: 0207 088 2000

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. 

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s dealing disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI Africa: Breast cancer: why it’s difficult to treat and what new approaches are on the horizon

    Source: The Conversation – Africa – By Anna-Mart Engelbrecht, Professor in physiological sciences, Stellenbosch University

    Breast cancer is the number one cancer among women: more than 2 million cases were diagnosed worldwide in 2022. It is also particularly challenging to treat. Physiologist Anna-Mart Engelbrecht, who heads the Cancer Research Group at Stellenbosch University, explains why this is so and how precision medicine could help.

    How do tumours work?

    Normally, cell growth, cell division and cell death are tightly regulated processes. But mutations in a cell’s DNA can disrupt this regulation, leading to abnormal cell proliferation, forming tumours.

    Tumours can be benign (non-cancerous) or malignant (cancerous). Malignant tumours are dangerous because they invade surrounding tissues and can metastasize (spread) to other body parts, such as bones, liver or lungs.

    Cancer cells can evade the immune system, create their own blood supply (angiogenesis), and adapt to survive under different conditions, such as low oxygen or treatment pressure.

    Only 5%-10% of all cancers arise from germline (inherited) mutations, which are present in all cells of the body from birth, predisposing the individual to developing cancer.

    Most cancers are preventable through a healthy lifestyle and regular exercise.

    What are the different types of tumours?

    For breast cancer, the tumours can be classified into types:

    Ductal carcinoma in situ (DCIS): Non-invasive cancer (meaning it has not invaded the underlying tissue beneath the epithelial cells, and abnormal cells are confined only to the milk ducts.

    Invasive ductal carcinoma (IDC): The most common type, where cancer cells break through the duct walls (the cells lining the ducts become cancerous) and invade surrounding breast tissue.

    Invasive lobular carcinoma (ILC): Begins in the milk-producing lobules and invades nearby tissue. (The lobules are the part of the breast which produce milk. They are anatomically different from the ducts, which transport the milk to the nipples.)

    Triple-negative breast cancer (TNBC): The breast tissue lacks estrogen receptors, progesterone receptors, and HER2 protein receptors that control how cells grow and divide. Triple-negative breast cancer is often more aggressive and more challenging to treat.

    HER2-positive breast cancer: Overexpression of the HER2 protein, which promotes cancer cell growth.

    Hormone receptor-positive breast cancer: Cancer that grows in response to hormones like estrogen or progesterone.

    What makes breast cancer so difficult to treat?

    Breast cancer is particularly challenging to treat because there are so many subtypes with unique genetic and molecular characteristics.

    These variations mean that a treatment effective for one subtype might not work for another. The approach has to be tailored for each patient’s breast cancer.

    Another challenge is the tumour microenvironment. Cancer cells “hijack” the normal cells in this microenvironment to sustain cell growth.

    The tumour microenvironment shapes tumour behaviour. Certain cells in this environment can shield cancer cells from therapies, making treatment less effective.

    Drug resistance further complicates treatment. Over time, breast cancer cells can adapt and develop resistance to chemotherapy, hormonal treatments and targeted therapies.

    This adaptation can involve genetic mutations or the use of alternative signalling pathways that allow the cancer cells to continue growing despite treatment efforts.

    Metastasis, or the spread of cancer to other organs, is another major hurdle. Metastatic cells often behave differently from those in the primary tumour. This is true for all cancers.

    Lastly, breast cancer cells sometimes escape detection by the immune system. Usually, the immune system would recognise and attack abnormal cells. But some breast cancer cells can disguise themselves or suppress the immune response.

    This makes immunotherapy less effective. Unlike traditional therapies such as chemotherapy, immunotherapy enhances the immune system’s natural ability to fight cancer.

    Immunotherapy has shown success in treating cancers like melanoma, non-small cell lung cancer, kidney cancer and certain lymphomas, particularly those with a high number of genetic mutations that make them more visible to the immune system.

    But immunotherapy is not universally effective. Response rates can vary greatly between patients, and side effects can be severe.

    Breast cancer tends to have fewer genetic changes for the immune system to recognise as foreign.

    How would precision medicine make a difference?

    Precision medicine takes into account the genes, environment, and lifestyle of each person and tailors treatments to a tumour’s genetic and molecular characteristics.

    It enables targeted therapies that improve efficacy and reduce unnecessary side effects.

    Ongoing monitoring through techniques like liquid biopsies (for example a blood test) allows treatment strategies to be adapted as the tumour evolves, and identifying genetic predispositions aids in early detection and prevention.

    Precision medicine has transformed cancer care, particularly in cancers like breast, lung, and melanoma, where targeted therapies guided by genetic profiling are now routine for patients who can afford it.

    Research and clinical trials continue to expand the reach of precision medicine, promising more effective, individualised treatments for a broader range of patients in the future.

    – Breast cancer: why it’s difficult to treat and what new approaches are on the horizon
    – https://theconversation.com/breast-cancer-why-its-difficult-to-treat-and-what-new-approaches-are-on-the-horizon-241690

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Housing Summit to address housing challenge in Highland

    Source: Scotland – Highland Council

    The Highland Council has called a Housing Challenge Summit, designed to bring together all parties from National and Local government and private sector interests, both large and small, from across the fields of energy, housing development and commerce, to focus on the Housing Challenge in Highland.

    Highland Council declared a Housing Challenge following an event in November 2023 and agreed a number of strategic objectives in June 2024, with the aim of finding solutions to a Highland Housing Challenge. 

    The summit will be held today, 22 October, in Aviemore and delivered in partnership with Prosper, with sponsorship from SSEN, Burness Paull and The Scottish National Investment  Bank (SNIB).

    Housing Minister, Paul McLennan will attend and address delegates in a Keynote speech. 

    He said: 

    “I am pleased to be attending Highland Council’s Housing Challenge Summit and speaking with a range of stakeholders about how we work together to deliver the homes that people need. We know that tackling the housing emergency requires a joint approach between the Scottish Government, UK Government and local authorities and this summit will provide a valuable opportunity for stakeholders to come together to find ways to deliver more homes for communities across the Highlands. 

     “Good quality housing is essential to attract and retain people in our communities. We remain focused on delivering 110,000 affordable homes across Scotland by 2032, with at least 70% for social rent and at least 10% in our rural and island communities supported by our Rural and Island Housing Action Plan. Since 2021, we have invested over £180 million grant funding that has supported the delivery of nearly 2,000 affordable homes across the Highland Council area.” 

    Convener of The Highland Council, Bill Lobban who will chair the summit, said: “I am delighted to welcome the Housing Minister Paul McLennan, and over 100 delegates from a range of public and private sectors, whose input, together with Scottish Government and political representatives, will be invaluable to addressing the housing challenge in the Highlands. 

    “Affordable housing is an issue that is raised everywhere we speak to communities across the Highlands. For this reason, it is a high priority in the Council’s Programme and Members have declared a Highland Housing Challenge. 

    “There are also many wider socio-economic benefits in providing more housing, including boosting the construction industry, regeneration of town centres and reversing depopulation of communities. The economic benefits continue over the longer term, through savings on housing benefit, and wider benefits including reduced homelessness, increased employment, and improved health benefits.”  

    “Bringing the envisaged housing solutions to the Highlands is a key component of the economic growth required for the area in the next twenty years, helping us to seize important energy development opportunities, create benefits and sustain both our urban and rural communities.” 

    Chair of the Council’s Housing and Property Committee, Cllr Glynis Campbell Sinclair summarised the challenges saying: “It is anticipated that 24,000 new houses will be required in Highland in the next ten years. This is around double that which would normally be built.  

    “The future demand for housing is based on an updated ten-year Housing Needs Demand Assessment, which incorporates economic modelling including potential increases in jobs connected to the development of the Inverness and Cromarty Firth Green Free Port. 

    Leader of The Highland Council, Raymond Bremner said: “Highland Council and its partners are on course to meet the challenge of building 24,000 houses, but over 20 years. To accelerate this will require additional investment of around £2.8 billion. The challenge will require public and private sector co-investment and significant increases in the supply of land for housing and development capacity. 

    “Some solutions to future housing supply can be addressed through benefits flowing from the Social Value Charter from Renewables and from future retained business rates relating to the Green Free Port, as well as legacy housing from energy and infrastructure projects. 

    “The next steps will be to seek collaborative action in the co-design and delivery of a strategic plan which addresses the housing needs in the short, medium and long-term future.”  

    Chief Executive of Prosper, Sara Thiam added: “Housing continues to be a barrier to growth for many industries but it also underpins the quality of life of our people and impacts on our health, education and equality of opportunity so finding ways to overcome the various challenges will continue to be at the top of the to do list for government, industry and wider society.” 

    The summit will explore the Council’s agreed objectives including levering finance from different means; finding varied mechanisms to build new housing; flexibility regarding the ownership of housing; and finding new ways to maximise the supply of land.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: “There’s no such thing as a ‘normal’ family” – National Adoption Week 2024

    Source: City of Liverpool

    There’s no such thing as a ‘normal’ family, according to 66 per cent of people in North West England as National Adoption Week starts which will this year explore the adoption journey through modern families.

    The survey by You Can Adopt has also revealed that the vast majority of the public – 88 per cent – feel it’s important to teach children that families come in all shapes and sizes, and that this promotes acceptance of children from non-traditional family units (52 per cent). However, (51 per cent) of the public surveyed were not taught this themselves when growing up.

    Adoption in Merseyside (AiM) is the Regional Adoption Agency for Liverpool, Knowsley, Sefton, and Wirral. AiM supports a range of people through the adoption process as they grow their families.

    Over 25 per cent of approved adopters in 2023/2024 were part of the LGBTQ+ community which reflects the You Can Adopt message that families come in many shapes and sizes.

    Craig and Daniel had their daughter placed for adoption when she was just nine weeks old. 

    Daniel said “Honestly, we were a little worried about how we would be perceived being a gay couple. But the second we met our social worker all those worries disappeared.

    “The best part of the process was when we saw our daughter’s profile. We knew straight away that she was going to be our daughter. We went to the matching panel very quickly and before we knew it, she had moved in. It was quick but felt so right.

    “We left our old life for a new one and being a parent is the most rewarding thing – we wouldn’t change it for anything else”.

    Cllr Liz Parsons, Liverpool City Council’s cabinet member for children’s social services said: “Our children are currently waiting longer to be adopted due to the lack of approved adopters. In modern adoption, we hope that potential parents realise that there is support available. Some of that support will be there for the whole journey, others just for one small part, and of course, birth families remain an important part of a child’s identity throughout their life. But each of these people plays an important part in the lifelong nature of the adoption journey that makes each family’s experience unique.”

    If you want more information about adoption, please visit http://www.adoptioninmerseyside.co.uk

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: All Together Inspired launches online learning hub to help ‘change the world’

    Source: City of Liverpool

    A band new online learning hub – All Together Inspired – has been launched to support Cheshire and Merseyside’s public, private and third sectors to learn more about the social determinants of health and reduce health inequalities.

    The social (or wider) determinants of health refer to the social, cultural, political, economic, commercial and environmental factors that shape the conditions in which people are born, grow, live, work and age. Some key social determinants of health are education and employment opportunities, housing, social networks, where we live and the extent it facilitates exercise, a good diet and social connection.

    The website includes a wealth of information to help professionals learn more about these vital subject areas, as well as specific training, tools and resources to support their day-to-day work. All Together Inspired also highlights and promotes examples of work happening within the subregion of Cheshire and Merseyside and encourages those who feel inspired to share their story.

    All Together Inspired is part of All Together Fairer, Cheshire and Merseyside’s mission to reduce health inequalities and encourage the entire system to work as one to build a fairer, healthier subregion. This work is informed by a landmark report, produced by leading health inequalities expert Professor Sir Michael Marmot and his team at the UCL Institute of Health Equity, and published in 2022. The Programme is overseen by the Cheshire and Merseyside Population Health Partnership.

    Professor Ian Ashworth, Director of Population Health for NHS Cheshire and Merseyside and Chair of the Cheshire and Merseyside Population Health Partnership, said:

    “I am delighted to see All Together Inspired launch this online learning hub. The website will not only will serve as a one-stop shop for all things related to the social determinants of health, it will also inspire and galvanize our ‘Marmot army’ of dedicated and talented public sector workers, our fantastic voluntary sector, and provide businesses and the private sector with tools and resources that they can also use to make a real difference.

    “I am continually inspired when I hear about the work that happens as part of our All Together Fairer Programme and I look forward to seeing examples of this work appear on All Together Inspired.”

    Professor Sir Michael Marmot, Director of the UCL Institute of Health Equity, said:

    “The health problems that we see in a subregion like Cheshire and Merseyside are not simply related to the problems in the NHS, but they’re related to how we arrange our affairs in society – the social determinants of health. Social injustice is killing on a grand scale, and we wanted to launch a social movement to create greater health equity and narrower health inequalities. We would like you to become part of the All Together Inspired movement and use the resources in this website. We can and we will make a difference to improve and achieve greater health equity.”

    To access All Together Inspired, visit: https://alltogetherinspired.org.uk.

    To health spread the word about All Together Inspired with a dedicated toolkit of communications resources, visit: https://alltogetherinspired.org.uk/find-a-resource/.

    To find out more about the Champs Public Health Collaborative, visit: https://champspublichealth.com.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Black British Book Festival to Return to Manchester

    Source: City of Manchester

    The Black British Book Festival is set to return to Manchester Central Library next year following a successful event at Manchester Central Library in September 2023.

    The festival will bring the incredible energy, culture and celebration of Black British literature to the city on Saturday 29th March 2025.

    It is another incredible opportunity to connect with inspiring Black British authors, storytellers, and book lovers right here in Manchester. It is open to all and free to attend. It will be a day to celebrate Black voices and stories through workshops, the chance to participate in panels and buy books and more.

    Founded by Selina Brown in 2021, the Black British Book Festival is Europe’s largest celebration of Black Literature and has taken place in London each Autumn.

    This year’s London event featured talks from Grammy Award® winning rapper Eve Jihan Cooper; Diane Abbott discussed her experiences in a panel titled “A Woman Like Me,” while journalist and presenter Charlene White led an insightful session.

    The Festival prides itself on having events in different parts of the country with the Manchester Central Library event the latest to be announced.

    Councillor John Hacking Executive Member for Skills, Employment and Leisure said:

    “We are delighted that during Black History Month we can announce the return of the Black British Book Festival to Manchester. We are proud of our year-round diverse cultural programme, and the work Read Manchester has done to ensure our residents can see themselves in the books held in libraries.

    “We are so pleased the Festival is returning to Central Library in March next year. Last year’s event in Manchester was inspirational and I’m sure the upcoming event will be too.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Countdown to opening sees Manchester Christmas Markets mapped!

    Source: City of Manchester

    Manchester Christmas Markets open on 8 November

    With less than three weeks to go now until Manchester’s legendary Christmas Markets open, we’ve got the markets mapped for visitors and festive shoppers with a downloadable map to help everyone find their way round the markets and point them in the right direction for food and drink, live entertainment, and those all-important toilet stops.

    Open daily for a six-week seasonal take-over of the city centre from Friday 8 November until Sunday 22 December, this year’s markets include seven weekends of festive fun for visitors and Christmas shoppers instead of the usual six, due to the way dates fall.

    Bigger and better than ever, this year’s Christmas Markets will see 240 of the iconic wooden ski chalet market stalls across nine different locations throughout the city centre.

    New for this year is an expanded Winter Gardens at Piccadilly, with more space and stalls to enjoy along with two fabulous festive marquees fit for the Santa season and festooned with twinkling fairy lights, to provide more of the all-important under-cover space for Christmas shoppers to get cosy if the weather turns cold.

    Also new this year at the Winter Gardens is an expanded seasonal offer from next-door neighbours Piccadilly Street Food Market, with stalls there also staying open until 9 pm each night, serving up their unique flavours from around the world.

    With the Winter Gardens at Piccadilly at the heart of this year’s Christmas Markets, the markets will also see the transformation of Market Street, Cathedral Gardens, Exchange Street, New Cathedral Street, St Ann’s Square, Exchange Square, The Corn Exchange, and King Street into Manchester’s very own magical Christmas wonderland.

    Manchester Christmas Markets map

    Manchester’s Christmas Markets will be open daily from Friday 8 November to Sunday 22 December. Craft stalls and stalls selling seasonal goods will be open each day from 10 am – 8 pm, whilst food and drink stalls will be open from 11 am – 9 pm each day.

    The markets wrap for Christmas at 6pm on Sunday 22 December, except for the food and drink stalls at Cathedral Gardens which will stay open until December 31 alongside the ice rink.

    Councillor Pat Karney, Christmas spokesperson for Manchester City Council, said: “Less than three weeks to go now until the opening of our world-famous Christmas Markets and it’s suddenly beginning to feel a lot like my absolute favourite tinsel-y time of year. The markets sound incredible – we’ve got stalls selling everything from hand-made wrist watches, leather goods and jewellery, to fine art prints, designer hats, cheeses and chutneys, Christmas tree decorations and chocolate kisses – as well as mouth-watering treats and hot drinks at every turn. They’re going to be amazing, and we’re all set for Manchester’s best Christmas ever!”

    Find out more information about Christmas in Manchester and download the festive market map here   

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Celebrate the Overlord Embroidery in D-Day community cloth project

    Source: City of Portsmouth

    To celebrate the 50th anniversary of the completion of the Overlord Embroidery, which visitors can see at The D-Day Story in Portsmouth, members of the public are being invited to help decorate a large-size embroidered cloth inspired by the 83 metre embroidery.

    The Overlord Embroidery was designed by British artist Sandra Lawrence and commissioned by Lord Dulverton. It represents D-Day and the Battle of Normandy in 34 extraordinary hand-stitched panels and is one of the current highlights on display at the museum.

    This project – called ‘Couching Liberty’ – aims to encourage people to reflect on the meaning of war and its implications for men, women, and children alongside current conflicts happening in the world.

    It is a collaboration between the University of Portsmouth, The D-Day Story, and Stitch School, and is open to everyone, including schools and community groups.

    Melanie Bowles from Stitch School said: “The D-Day community cloth invites visitors to experience stitching together on the linen cloth inspired by the Overlord Embroidery. Learn and explore the vast range of embroidery stitches and share stories to build new narratives in the surroundings of the museum.”

    Melanie will be on hand to teach basic embroidery skills at the free drop-in sessions. Standard admission price applies to the museum and Landing Craft Tank 7074.

    Councillor Steve Pitt, Leader of Portsmouth City Council said: “This is another great opportunity for residents to get involved in learning more about the history of D-Day, whilst creating something exciting. Activities like this are important in sharing the true scale of the events that took place in June 1944 with all age groups. I look forward to seeing what is created!”

    The free event is taking place from Thursday 24 to Sunday 27 October 2024 between 10am – 5pm. Walk-ins are welcome on Thursday 24 afternoon, Saturday 26, and Sunday 27 of October. Large groups should book in advance.

    If you would like to book a school group visit, please contact Katherine Webber at The D-Day Story Museum at: katherine.webber@portsmouthcc.gov.uk. For all other groups, please contact: elaine.igoe@port.ac.uk or laurel.forster@port.ac.uk to make arrangements for your visit.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Family Matters programme reaches 300 family milestone as number of children in care drops

    Source: City of Stoke-on-Trent

    Published: Tuesday, 22nd October 2024

    The city council’s Family Matters programme has already made a big difference across the city – having reached the milestone of working with 300 families in just nine months.

    As of the end of September, the programme is providing opportunities for 322 families thanks to enhanced working with partners including the police, schools, the voluntary community and faith sector.

    The programme’s work is already having an impact on the numbers of children in care, with 1,110 children currently in care – down from 1,156 in March.

    Family Matters is a multi-agency programme that gives families in Stoke-on-Trent access to all the advice, tips and opportunities they need to thrive. It’s a key part of the city council’s commitment to support family life – working with the NHS, voluntary and community sector, businesses and others to make sure families are helped to give their children the best start in life.

    The city council has invested £1.5 million from the Public Health Grant into the programme and the NHS Integrated Care Board have invested £1 million, with wider partners providing support in kind. Ultimately, Family Matters will reduce the financial pressures from the care system and reduce the amount spent on children’s care placements.

    Councillor Sarah Hill, cabinet member for children’s services said: “It’s great news that the Family Matters programme is making such a difference to the lives of families in Stoke-on-Trent. I’d like to thank everyone involved in Family Matters for their hard work.

    “Supporting family life is one our key aims and we want to ensure there’s a city-wide response to this. Working with our partners and communities, Family Matters does this.

    “Early work with families leads to far fewer children in care and we’re already seeing that Family Matters can make a real difference. This makes the continued roll out of Family Matters really important.

    “Reducing the number of children in care is not an easy feat and so for the number to have started coming down since the launch of the programme – after rising month on month before this – is fantastic news.”

    The Family Matters website is coming soon and residents can find information on the Digital Family Hub at https://familyhub.stoke.gov.uk/

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Bury director jailed after failing to produce accounts for company which owed more than £200,000 in tax

    Source: United Kingdom – Executive Government & Departments

    Director jailed for offences under the Insolvency and Companies Act

    • Vezubuhle Ndlovu was the director of VN Electrics Limited when it went into liquidation owing more than £200,000 in unpaid tax 

    • Ndlovu failed to deliver accounting records to the liquidator as he was required to do so under law 

    • This failure meant his company’s accounts could not be investigated, resulting in criminal investigations into the 41-year-old by the Insolvency Service 

    A Bury director who failed to produce accounting records and refused to co-operate with the Insolvency Service after his company went into liquidation owing more than £200,000 in unpaid tax has been jailed. 

    Vezubuhle Ndlovu was sentenced to 10 months in prison when he appeared at Manchester Crown Court on Tuesday 15 October. 

    The 41-year-old had previously pleaded guilty to offences under the Insolvency Act and Companies Act for his VN Electrics Limited business. 

    Ndlovu, of Spinney Crescent, Bury, failed to provide up-to-date records to the Insolvency Service when VN Electrics was liquidated in 2019, meaning the Official Receiver could not accurately assess the company’s position and liabilities. 

    David Snasdell, Chief Investigator at the Insolvency Service, said: 

    Vezubuhle Ndlovu’s offending was persistent and he has shown no insight into his criminal actions.  

    If a company fails to keep proper records it exposes creditors and trading partners to unacceptable levels of risk. A company that does not keep records is more likely to fail and the Official Receiver or insolvency practitioner will be unable to identify and take steps to recover the company’s assets. 

    Ndlovu failed in his statutory duties to deliver up-to-date accounting records and at no point engaged with the Official Receiver or our investigators when asked to do so. 

    VN Electrics was established in May 2017, with Ndlovu the sole director. The company’s business was described on Companies House as ‘non-specialised wholesale trade’. 

    The company was liquidated in December 2019 after a petition from HM Revenue and Customs, which was owed £221,600 by VN Electrics. 

    The Insolvency Service wrote to Ndlovu on three separate occasions after VN Electrics was wound-up, reminding him of his statutory duty to preserve the company’s books and records and to deliver them to the Official Receiver. 

    Ndlovu failed to respond and did not turn up to an interview at the Official Receiver’s Office. 

    Civil proceedings which resulted in a seven-year director disqualification for Ndlovu began in September 2020 and concluded in April 2022. At no point did Ndlovu engage with the investigation. 

    Just one month after Ndlovu’s director ban, criminal investigators from the Insolvency Service invited him in for interview. Again, Ndlovu failed to respond or attend the interview. 

    Ndlovu’s failure to deliver books and records meant the Official Receiver was unable to establish if sales and purchases of just more than £1 million were the true level of VN Electrics’ income and expenditure between August 2017 and February 2019. 

    The Official Receiver was also unable to determine if VN Electrics owned any assets at any time between incorporation and liquidation, and if so, what happened to them. 

    Further information 

    Updates to this page

    Published 22 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Response to the lead commissioner’s report

    Source: City of Birmingham

    Published: Tuesday, 22nd October 2024

    The city council leader has responded to the report from the lead commissioner Max Caller.

    Leader of Birmingham City Council Cllr John Cotton said:

    “We welcome the publication of this report from the lead commissioner and acknowledge that while progress is being made, there is much more to do in our ongoing efforts to ensure we become a financially sustainable, well-run council that delivers good services.

    “We continue to engage constructively with the new Government, and like councils across the country, are awaiting both this month’s budget settlement and a local government finance settlement later in the year which will set out a one-year emergency package of support for local councils.

    “The Government is also committed to a multi-year settlement following next year’s spending review which will give councils much needed clarity and allow us to plan for the future.

    “Nevertheless, we face another very difficult budget, and it remains clear that the pace of change must further increase, as further savings are identified, and we transform services. Our new Managing Director Joanne Roney is focussed on that challenge and there will be no let up as we work together to get the council back on track.”

    NOTES

    • We have appointed a permanent Managing Director in Joanne Roney CBE, who is already providing pace, grip, and authority in driving the necessary changes, working with the senior officer team and Commissioners.
    • The Improvement and Recovery Plan was agreed in April 2024 and has set the overarching direction and actions to address the issues identified in the intervention. The first part of the plan has been implemented and further stages are now underway, including the development of a refreshed Corporate Plan which will outline what the council will seek to achieve over the next three years.
    • A whole council operating model is being developed so that the council can deliver good services, even whilst operating under the financial pressures that are a reality for local government.
    • Shaping Birmingham’s Future Together has seen us set a new direction for the council to involve citizens and partners in a much greater way.
    • The council’s corporate services have been reviewed, with a commitment to a new workforce strategy that will help deliver the staffing we need to deliver quality services for our residents. This includes a refreshed HR function to enable the effective recruitment and management of staff and improve our culture and achieve best value.
    • Financial management improvements continue, with the move to make a permanent appointment to lead the finance directorate. Work continues at pace to identify the savings and cuts that are needed to deliver a balanced budget.
    • A much-needed reimplementation programme is now underway for Oracle.
    • Progress is being made against the equal pay liability, including a revised a job evaluation scheme and settlement of the outstanding litigation with a target of April 2025 for completion.
    • A plan is underway to improve the procurement operating model with a focus on strategic contract management in order to achieve best value.
    • Within the housing directorate, progress has been made in response to the Regulator of Social Housing’s letter, reconfiguring the HRA budget to focus on improving the quality of the existing housing stock.
    • Within children’s services, the council has completed the review of spend control on children’s social care, and progress is being made on greater join up of services for families to make our services more effective.
    • A transformation programme is now in place to improve the waste service – which is the most public facing area of the council which has not been performing at the level our residents expect. By transforming staffing and management arrangements, and procuring a new fleet, we will see improvements in this service in the months ahead.

    MIL OSI United Kingdom –

  • MIL-OSI China: Announcement on SFISF Operations No.1 [2024]

    Source: Peoples Bank of China

    Announcement on SFISF Operations No.1 [2024]

    (Open Market Operations Office, October 21, 2024)

    In order to better leverage the role of security firms and funds companies in stabilizing the market, the People’s Bank of China has conducted the Securities, Funds and Insurance companies Swap Facility (SFISF) operation for the first time with an allotment amount of RMB50 billion. Twenty institutions participated in the tender. The highest and lowest bid rate was 50 bp and 10 bp, respectively, and the winning rate was 20 bp. 

    Date of last update Nov. 29 2018

    2024年10月21日

    MIL OSI China News –

  • MIL-OSI China: Announcement on Open Market Operations No.208 [2024]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.208 [2024]

    (Open Market Operations Office, October 22, 2024)

    In order to keep liquidity adequate at a reasonable level in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB158.4 billion through quantity bidding at a fixed interest rate on October 22, 2024.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB158.4 billion

    1.50%

    Date of last update Nov. 29 2018

    2024年10月22日

    MIL OSI China News –

  • MIL-OSI China: Deputy Governor Xuan Changneng Moderates the Lecture Given by BOK Governor Rhee Chang Yong

    Source: Peoples Bank of China

    At the invitation of the People’s Bank of China (PBOC), Governor of Bank of Korea Rhee Chang Yong gave a lecture entitled “Monetary Policy in Practice: Applying a Dose of Integrated Policy Framework and Forward Guidance”, and answered questions from the PBOC and the State Administration of Foreign Exchange staff. Deputy Governor Xuan Changneng moderated the lecture.

    Date of last update Nov. 29 2018

    2024年10月22日

    MIL OSI China News –

  • MIL-OSI Economics: BaFin warns consumers about a further FinFlex website: finflex.info

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    On 9 August 2024, BaFin issued a warning about FinFlex and its website finflex.org, which has since been deactivated. The unknown operators are now using the nearly identical website finflex.info. BaFin suspects the operators of the websites of offering consumers financial and investment services on these platforms without the required authorisation.

    The content of the websites is identical to other platforms that BaFin has previously warned consumers about and that display the same opening sentence: “Upgrade Your Trading With…”.

    Anyone conducting banking business or providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether particular companies have been authorised by BaFin can be found in BaFin’s database of companies.

    Theinformation provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

  • MIL-OSI USA: American Bar Association Offers Free Legal Aid to Hurricane Helene Survivors in South Carolina

    Source: US Federal Emergency Management Agency 2

    ree legal assistance is available to disaster survivors in Abbeville, Aiken, Allendale, Anderson, Bamberg, Barnwell, Beaufort, Cherokee, Chester, Edgefield, Fairfield, Greenville, Greenwood, Hampton, Jasper, Kershaw, Laurens, Lexington, McCormick, Newberry, Oconee, Orangeburg, Pickens, Richland, Saluda, Spartanburg, Union and York counties and the Catawba Indian Nation who were affected by Hurricane Helene in South Carolina. 
    If you need help, you can call (803) 799-6653 ext. 120 or (803) 576-3815 8:30 a.m. — noon; 1:00 — 4:30 p.m. ET, Monday through Friday. If after business hours, survivors can leave a message. The hotline is available to connect survivors to free legal services in qualifying counties who cannot afford an attorney.
    Legal Aid may be able to help survivors in the following ways: 

    FEMA and SBA financial benefits.
    Home repair contracts and property insurance claims.
    Re-doing wills and other important legal documents destroyed in the disaster.
    Price gouging, scams or identity theft.
    Landlord or tenant problems, or threats of foreclosure.
    Disability-related access to federal, state and local disaster programs.

    The Disaster Legal Services program works with state and local partners to provide free legal help for low-income disaster survivors. The service is a partnership between the American Bar Association Young Lawyers Division, FEMA, and various organizations and volunteer attorneys. 
    Hotline partners cannot help in all cases. For example, the Disaster Legal Services program cannot take cases where a settlement could include legal fees or an award, but DLS can refer those cases to other legal help.

    MIL OSI USA News –

  • MIL-OSI Russia: With the support of Rosneft, the Days of Culture of Indigenous Peoples of the Tyumen Region opened

    Translation. Region: Russian Federation –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    With the support of RN-Uvatneftegaz (part of Rosneft), the Days of Indigenous Peoples Culture have started in the Tyumen Region. It is expected that over 1,200 guests will visit the festival in two weeks.

    In the ethnographic center “Uvas Mir Hot” (House of Northern People), created with the support of “RN-Uvatneftegaz”, guests get acquainted with the rich culture of northern ethnic groups, their customs and traditions. The concert program of the opening of the festival included performances by dancers and throat singers accompanied by a jaw harp. Excursions around the ethnic camp were organized for adults and children, and they could also take part in games in national sports and taste dishes of national cuisine.

    The Days of Culture will include interactive excursions and themed events for schoolchildren and large families. For residents of the Uvatsky District, the festival will also include performances by creative groups, competitions in national sports “Northern All-Around”, master classes in arts and crafts, an exhibition of photographs and works by northern poets and writers. Guests of the festival will also be able to watch the film “Master of the Taiga”, which introduces the unique culture and way of life of the Eastern Khanty. The festival program will end in the Uvatsky District, where 30 families of indigenous peoples live in 11 camps today.

    The assistance of the oil producing company RN-Uvatneftegaz in organizing this and other traditional national holidays helps popularize culture and strengthen ties between families and generations.

    The territory of “Uvas Mir Hot” hosts ritual festivals and cultural events, concerts, interactive excursions, local history and national language lessons, and master classes all year round. To immerse guests in the culture and life of indigenous peoples, the ethnic camp has recreated in detail a Khanty hut, a Nenets tent in summer and winter versions, a storage shed for food, a kitchen with a clay oven, a hunter’s hut, and animal enclosures. Interest in the “House of Northern People” is growing – since the beginning of the year, it has been visited by 14,800 tourists.

    Preservation of the national culture of the indigenous peoples of the North is one of the significant areas of Rosneft’s social policy. The Company’s enterprises implement many social projects in the regions of their operations, develop the infrastructure of northern villages, help reindeer herder families, improve the material and technical base of educational institutions, social and medical facilities in areas of traditional residence.

    RN-Uvatneftegaz, together with the administration of the Uvatsky municipal district, supports representatives of the Khanty, Mansi and Evenki of the Tyumen region, providing comprehensive assistance in preserving their way of life. The company pays for the education of young people in secondary specialized and higher educational institutions, finances participation in competitions in a national sport – oblas (boat) races. Oil workers provide access to winter roads and ice crossings that are built for production needs, organize the distribution of fuel at the fields closest to the camps. The company is also one of the organizers of the annual festival “Wealth of the Uvat Taiga”, which includes a fair of goods of traditional crafts and trades of indigenous peoples living in the Uvatsky district.

    Reference:

    RN-Uvatneftegaz LLC, a subsidiary of Rosneft Oil Company, is conducting exploration and development of a group of fields located in the Uvatsky District of the Tyumen Region and the Khanty-Mansiysk Autonomous Okrug-Yugra. The Uvatsky project includes 19 licensed areas, their total area exceeds 25 thousand square kilometers.

    Department of Information and Advertising of PJSC NK Rosneft October 22, 2024

    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 United Kingdom: Popular Apple Fair extended to two days

    Source: Northern Ireland – City of Derry

    Popular Apple Fair extended to two days

    22 October 2024

    The popular Apple Fair returns with gusto to Castlederg this year as two days of entertainment and fun are planned to celebrate the Halloween season.

    Running over Friday 25th and Saturday 26th October all the activity will be focused around the town’s newly refurbished Diamond area.

    This year the event is being organised by the Castlederg Community Events Committee. Rois Kelly from the group explained, “We are really delighted to bring the Apple Fair back to the town, and to be able to extend it to run over two days. We have lots of entertainment, family fun, bespoke stalls and of course apples to make sure there is something for everyone to enjoy.”

    Ahead of the official start of the Apple Fair the entertainment gets underway with ‘Man in Black’ – a special performance in Derg Parish Church on Thursday evening at 7.30pm. It will feature the story and songs of Johnny Cash, as told by David Kelly.

    The fun runs throughout the day from 11am-4pm on Friday. The Fair will be opened with a special performance of ‘A Million Dreams’ by pupils from four of the local primary schools – St Patrick’s PS, Edwards PS, St Caireall’s and Killen PS.

    Friday will continue with the arrival of Roland Dukes, one of the traditional apple sellers making the trip from Portadown to the Tyrone town for the occasion with a selection of tasty apples available from his vintage truck.

    A variety of other arts, crafts, and food stalls will be selling their wares throughout the two days. There will also be a number of local DJs playing and karaoke available. On Friday, The Derg Arms is running a pumpkin carving competition, while Bradley’s Pharmacy has organised a special fancy dress competition where people are asked to get their picture taken in front of the Apple Fair/Halloween Window display. Bring an Apple Fair prop and dress up, then come along, fill in an entry form in store and develop your photo free. You’ll also be in with a chance of winning a £50 Bradley’s voucher.

    Bringing Friday to a close is the Churchtown Community Association’s Halloween Hoolie in the Ard Mór Centre from 6-9pm.

    Saturday sees the arrival of a host of fun and activities for local families to enjoy. Running from 12-5pm there will be amusements, face-painting, live music, inflatable mascots, performances from Much Ado Stage School, and dance acts.

    Encouraging people to come out and support this year’s Apple Fair, the Mayor of Derry City and Strabane District Council, Lilian Seenoi Barr said, “The Castlederg Apple Fair is a long-running tradition in the town with apple sellers travelling from Co Armagh in the lead-up to Halloween for the past 100 years. It’s brilliant that the event has been expanded to two days this year. Well done to everyone who worked so hard to make this happen, and I would encourage everyone in the town to support the event and make sure they get along and enjoy it this weekend.”

    The Apple Fair is free, however tokens need to be purchased for the amusements and facepainting.

    For more information about any of the events taking place in the Strabane District this Halloween, go to http://www.strabanehalloween.com.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Safety information for local communities | Westminster City Council

    Source: City of Westminster

    Demonstrations and major events in central London

    There are often major events and demonstrations in central London.

    Whilst any protest will be managed by the police and other partners, they may have an impact on the communities around them. We are working closely with the police and partners to ensure the safety of everyone who may be impacted by these actions.

    We would also encourage residents and businesses to follow the Met Police’s social media feeds to keep up to date with the latest information from them about what’s happening on the ground @metpoliceuk

    For the latest on any travel disruption, follow @TfL on Twitter/X.

    Follow us on Twitter/X, Facebook, Nextdoor and Instagram for updates from the council.

    Keeping residents and businesses safe

    Our City Inspectors remain visible and working across Westminster, ensuring we are there to support residents and businesses.

    The council and our contractors are on hand to ensure the streets are cleaned and any graffiti and stickers removed. Anything offensive or that might constitute a criminal offence will be reported to the police, and removal will be expedited in line with usual practices.

    If you see any racist or hate material, please report this immediately to the police by calling 101 and online us via the report-it app so that we can arrange to have this removed. This is monitored over the weekend so swift action can be taken.

    We continue to work with the Metropolitan Police Service to plan for and take action to keep everyone safe. The Metropolitan Police has said that Londoners will see more police officers on the streets across the capital to reassure and protect communities, particularly those who have been affected, and we fully support them with this work. We are also reaching out to local groups to offer whatever support we can.

    How we are supporting faith groups in Westminster

    The council is working with the police and other agencies to support faith groups in Westminster.

    Neighbourhood police officers and our city inspectors will continue to provide practical safety advice and visible reassurance to all communities in the city.

    If venues are concerned about their security, in the first instance, they should be encouraged to contact specialists within the Metropolitan Police Service (MPS). 

    The council has strong links with the MPS, and our Community Safety and Highways teams work closely with the MPS and venues to consider recommendations related to the public realm.

    We’re doing everything we can to keep people in the city safe.

    Information about hate crimes and how to report them

    If you have been the subject of a hate crime, here is information from the police about what to do:

    • if someone is in immediate danger or needs support right away, then dial 999.
    • hate crime can be reported online, by 101 phone or at a police station.
    • if you’ve seen something on a website or social media that promotes hatred or violence against a particular group, use the police’s online form to report it.

    Keeping up to date

    Stay up to date by following the Metropolitan Police’s main social media account: @metpoliceuk

    Alternatively, follow us on X, formerly known as Twitter, for local updates.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: OPSS issues children’s Halloween costume warning

    Source: United Kingdom – Executive Government & Departments

    Public asked to be vigilant following tests.

    The Office for Product Safety and Standards (OPSS) has asked the public to be vigilant following tests carried out on Halloween fancy dress costumes for children.

    Tests on 128 costumes aimed at under seven years olds found more than 80 per cent failed basic safety tests, including those for flammability and strangulation from cords.

    Costumes were purchased from a range of online marketplaces and tested against the Safety of Toys Regulations 2011. All those which failed have since been removed from sale by the platforms.

    OPSS is now urging the public to always buy costumes from trusted sources and take care when near fires, particularly open flames.

    Head and neck drawstrings or cords can also strangle or entrap children so always check for long cords or other strangulation hazards.

    Said OPSS Chief Executive Graham Russell:

    Fancy dress can be an enjoyable part of Halloween, but our tests show many costumes for sale, particularly those online, pose serious risks to young children. Please take extra care before you buy.

    Tests conducted June 2024

    Standards tested against Number of items tested Pass Fail Inconclusive
    BS EN 71-2: 202) – Flammability of toys 128 99 28 1
    BS EN 14682:2014 – Safety of children’s clothing. Cords and drawstrings on children’s clothing 73 14 59 0
    Labelling 128 30 98 0

    Products are required to have the following labelling requirements:

    • Reg 18 CE (or UKCA mark)
    • Reg 19 Type, batch or serial or model number
    • Reg 19 Manufacturer name, trade name or trademark
    • Reg 19 Single manufacturer address
    • Reg 20 Suitable instructions safety information
    • Reg 27 Importer’s name, trade name or trademark
    • Reg 27 Importer’s UK/EU address

    Updates to this page

    Published 22 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Mayor welcomes updates from Google to combat mobile phone theft

    Source: Mayor of London

    • New Android anti-theft features enhances security for billions of mobile phone users, with a Theft Detection Lock automatically locking the device if someone snatches it and tries to run, bike or drive away.
    • It follows the Mayor and Met Commissioner’s landmark meeting with world-leading mobile phone companies and ongoing partnership work to ‘design out’ mobile phone theft.
    • Android has a new comprehensive set of theft protection features designed to protect users and their data to make the phones less attractive to thieves.
    • The Mayor will continue to work with the global mobile industry on further measures that could put an end to the illegal trade in stolen mobile phones.

    The Mayor of London, Sadiq Khan, has today welcomed the introduction of new technology that will enhance security for Android phones and provide better protection for users, as part of work to ‘design out’ mobile phone crime in the capital and beyond.

    The Mayor visited Google’s London offices to hear about new state-of-the-art AI technology that will make Android mobile phones less attractive to thieves and protect users and their data. The new enhanced security includes automatically locking the screen if the phone is snatched and allowing remote locking of a stolen device.

    These updates are part of an ongoing partnership to ‘design out’ mobile phone robbery, and follow the Mayor and Met Commissioner’s landmark meeting with world-leading mobile phone companies at City Hall in October last year[1], where Sadiq called on them to find the most effective deterrents to combat phone theft.

    New figures show that mobile phone crime is driving the rise in robberies and thefts in the capital with 33 per cent of all robberies last year involving a phone being stolen – equating to more than 11,800 offences. And 69 per cent of all thefts in London last year related to mobile phones.[2]

    The Met is spearheading dedicated and targeted police work to prevent these crimes but the criminal demand for high-value mobile phones continues to grow. 

    Today the Mayor has praised the changes introduced by Google which will enable Android device owners to hide sensitive apps behind a separate PIN-locked area. The new update will also use AI and sensors inside a device to identify when a thief has grabbed and fled with a user’s phone, locking the screen to prevent them accessing it or any data stored on it. The new Remote Lock feature will lock a device using just the phone number should it be lost or stolen, which will help users who cannot remember their Google credentials in the moments after a theft, but still need to secure their personal data.[3]

    The Mayor is urging Londoners to ensure they install the latest Android software updates available and activate these settings to ensure their device is best protected against thieves. The Mayor also continues to work alongside other phone companies, including Apple who have taken action with the new iOS 18 software update making it substantially harder for iPhones to be broken up for parts in the UK and internationally.

    Sadiq will continue to work with the major phone companies to explore if all phones can be disabled following a theft, whether here in the UK or elsewhere in the world. 

    The Mayor of London, Sadiq Khan, said: “The theft of a mobile phone is hugely distressing and we are seeing numbers increase all around the world. While the Met are taking targeted action with patrols in London’s worst hotspots it is far too easy and profitable for criminals to repurpose and sell on expensive stolen phones.

    “Last year I called on mobile companies to do what they can to ensure that their devices are not appealing to thieves, and I’m pleased that Google are introducing these important new security updates.

    “We know there is much more still to be done to tackle this problem, but I am committed to continuing to work with the mobile phone industry and the Met to catch the criminals behind this appalling industry, as we build a safer London for everyone.”

    Katie O’Donovan, Director of Public Policy for Google UK: “Android’s new anti-theft features will give added security for billions of people, including Londoners. We were delighted to welcome the Mayor of London to Google today to demonstrate our commitment to device safety.” 

    Annika Bizon, Director of Marketing, Omnichannel & Head of Ireland – MX Division, Samsung Electronics, said: “At Samsung, we are deeply committed to protecting the security and privacy of our Galaxy users. Working with Google we are giving users complete control over their devices, ensuring their data remains secure even when their device is not physically with them. We are striving to offer an even more secure user experience. Information about additional updates will be shared in the near future.” 

    Claire Waxman OBE, London’s Independent Victims’ Commissioner, said: “Mobile phone crime is an extremely traumatic experience for every victim and has a lasting impact far beyond the loss of personal possession. What’s worse is that it can really heighten victims’ fear of crime and leave them feeling vulnerable as they go about their daily lives.

    “Our lives are on our phones, and they are a form of safety and comfort for people but taking someone’s device robs them of that security and leaves victims worrying about where their private data and information may end up.

    “That’s why I welcome the update from Google today and the introduction of this new technology is a step in the right direction in enhancing security and protection for Android phone users and their data. It is clear though that more improvements need to be made which is why I support the Mayor’s action with the mobile industry to come up with further measures that can make stealing phones less attractive for thieves and put an end to the illegal trade in stolen mobile phones.”

    MIL OSI United Kingdom –

  • MIL-OSI Banking: Governor Ulrik Nødgaard’s presentation at Grisekongres 2024

    Source: Danmarks Nationalbank

    Financial stability and financial risks

    Governor Ulrik Nødgaard gave a presentation at Grisekongres 2024 on 22 October. The presentation gave an overview of the Danish economy, geo-economic fragmentation, and the economic situation in the agricultural sector. The main messages were: We expect a soft landing for the Danish economy; there are initial signs of fragmentation in the global economy, and the agricultural sector has generally become more economically robust. (The presentation is in Danish only).

    MIL OSI Global Banks –

  • MIL-OSI Asia-Pac: Director of Health attends WHO Western Pacific Regional Committee meeting (with photos)

    Source: Hong Kong Government special administrative region

         The Director of Health, Dr Ronald Lam, is leading a delegation from the Department of Health (DH) to attend the meeting of the 75th session of the World Health Organization (WHO) Regional Committee for the Western Pacific in Manila, the Philippines.
             
         The Regional Committee meeting (RCM) is set up to formulate policies, provide oversight for regional programmes and their progress; consider and endorse new initiatives and adopt resolutions and make decisions that guide the Regional Office’s work for the coming year. This year, the theme of the RCM is “Weaving Health for Families, Communities and Societies in the Western Pacific Region”. In recent years, the Western Pacific region has been facing a series of public health challenges, including ageing population, increased burden on non-communicable diseases (NCDs) and communicable diseases, mental health, health security threats, climate change, digital health, and oral health. At the meeting this year, which is being held from October 21 to 25, member states and areas will exchange views, explore collaboration and pass resolutions on the above issues. Five visions of weaving health, namely transformative primary care for universal health coverage, climate-resilient health systems, resilient communities, societies and health systems for health security, healthier people throughout the life course, and technology and innovation for future health equity, have been endorsed by the RCM to address the above challenges.
             
         Speaking at the agenda item of the Address by and Report of the Regional Director, Dr Lam said, “Hong Kong, China noted the Report of the Regional Director, and will fully support the newly defined five visions of weaving health. While we are enjoying one of the best health indices in terms of life expectancies, maternal and infant mortality rates and so forth, we are facing similar challenges as other member states and areas such as ageing population, rise of NCDs, and health security threats. As announced in “The Chief Executive’s 2024 Policy Address”, Hong Kong, China is now embarking on substantial health reforms via two major themes of “Deepen Reform of the Healthcare System” and “International Health and Medical Innovation Hub”. The five visions of the WHO Western Pacific Region is in alignment with our health initiatives of the “The Chief Executive’s 2024 Policy Address”. Hong Kong, China will continue to work closely with the WHO in achieving health for all in the Region.” 
          
         The DH has been actively contributing to global public health by supporting the WHO in tackling various public health challenges. The DH is designated as the WHO Collaborating Centre for Traditional Medicine and the WHO Collaborating Centre for Smoking Cessation and Treatment of Tobacco Dependence. Furthermore, the WHO has designated the Public Health Laboratory Services Branch of the Centre for Health Protection of the DH as a reference laboratory for various communicable diseases, including tuberculosis, measles/rubella, influenza A (H5), SARS and COVID-19, making significant contributions to fighting epidemics worldwide. The DH will keep on maintaining close contact with member states and areas of the WHO on various issues to safeguard the health of the people.         

    MIL OSI Asia Pacific News –