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  • MIL-OSI Security: Chinese National Pleads Guilty To Illegally Exporting Semiconductor Manufacturing Machine

    Source: Office of United States Attorneys

    SAN FRANCISCO – Lin Chen pleaded guilty in federal court today to illegally exporting U.S. technology to a prohibited end user in China, in violation of the International Emergency Economic Powers Act (IEEPA) and the Export Administration Regulations (EAR). The plea was accepted by the Hon. William Alsup, Senior U.S. District Judge.

    In pleading guilty, Chen, 65, a citizen of the People’s Republic of China (PRC), admitted to acting on behalf of Jiangsu Hantang International Trade Group Corp., Ltd. (JHI), a company headquartered in Nanjing, PRC, to procure a wafer cutting machine on behalf of Chengdu GaStone Technology Co., Ltd. (GaStone), an entity located in Chengdu, PRC.  Chen admitted to knowing that GaStone was designated on the U.S. Department of Commerce’s Entity List on Aug. 1, 2014.  Federal regulations restrict the export of certain items to companies, research institutions, and other entities identified on the Department of Commerce’s Entity List. Under applicable Department of Commerce regulations, wafer cutting machines, which are used to cut thin semiconductors used in electronics (also known as silicon wafers), require a license for export to end-users such as GaStone.

    According to the plea agreement, by no later than Dec. 4, 2015, Chen knew that GaStone was prohibited from receiving restricted exports without a license, including a DTX-150 Scribe and Break Machine, a machine for processing silicon wafer microchips.  On approximately Dec. 10, 2015, Chen worked with a co-defendant to arrange the sale of a DTX-150 to GaStone by shipping it to the PRC in the name of JHI without an export license from Commerce. Chen used JHI’s status as an intermediary to conceal GaStone as the true end-user of the technology.

    A federal grand jury indicted Chen on Dec. 1, 2020, charging him with conspiracy to violate IEEPA; submitting false electronic export information; smuggling; and IEEPA violations.  Under the plea agreement, Chen pleaded guilty to count four, causing an unlawful export in violation of IEEPA.  Defendant currently is released on bond.

    Chen’s sentencing hearing is scheduled for January 28, 2025, before the Judge Alsup.  The maximum statutory penalty for an IEEPA violation is up to 20 years in prison and a $1 million fine.  However, any sentence will be imposed by the court only after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.

    United States Attorney Ismail J. Ramsey, Federal Bureau of Investigation (FBI) Special Agent in Charge Robert K. Tripp, Homeland Security Investigations (HSI) Special Agent in Charge Tatum King, and Brent Burmester, U.S. Department of Commerce, Bureau of Industry and Security (BIS) Special Agent in Charge, San Jose Field Office, made the announcement today.

    Assistant U.S. Attorney Colin Sampson and Brett Reynolds of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case with the assistance of Claudia Hyslop and Nina Burney.  The prosecution is the result of an investigation by FBI, HSI, and BIS.
     

    MIL Security OSI –

  • MIL-OSI Security: Leader of Sacramento Cocaine Trafficking Organization Sentenced to 14 Years in Prison

    Source: Office of United States Attorneys

    SACRAMENTO, Calif. — Maurice Bryant, 54, of Sacramento, was sentenced today to 168 months in prison for conspiracy to distribute and possess with intent to distribute at least 5,000 grams of cocaine and 280 grams of cocaine base and for conspiracy to distribute and possess with intent to distribute heroin, both in violation of 21 U.S.C. §§ 846 and 841(a)(1), U.S. Attorney Phillip A. Talbert announced.

    According to court documents, Bryant is among the 15 federal defendants arrested in 2021 and charged in a 45-count indictment for trafficking narcotics as part of a DEA-led multi-agency operation targeting cocaine and heroin traffickers in North Sacramento. The Court found Bryant to be an organizer or leader of the vast cocaine distribution network. During just 60 days of wiretaps in 2018 and 2019, he was intercepted strategizing the movement of cocaine over the Mexican border, distributing over five kilograms of powder cocaine and a kilogram of cocaine base to his co-conspirators, and converting large quantities of powder cocaine into cocaine base (crack cocaine) in his residence. At the time of his arrest, agents seized drug trafficking paraphernalia, two loaded firearms, and a military-grade bullet proof vest from his residence.

    This case is the product of an investigation by the Drug Enforcement Administration, the Federal Bureau of Investigation, Homeland Security Investigations, the U.S. Marshals Service, the Bureau of Alcohol, Tobacco, Firearms, and Explosives, the U.S. Forest Service, the U.S. Postal Inspection Service, the Bureau of Land Management, the California Department of Corrections and Rehabilitation, the California Department of Justice, the California Highway Patrol, the Sacramento County Sheriff’s Office, and the Sacramento Police Department. Assistant U.S. Attorney Cameron L. Desmond is prosecuting the case.

    Below is the status of Bryant’s co-defendants:

    On September 29, 2022, Jason Tolbert, 45, of Sacramento, was sentenced to 57 months in prison for possession with intent to distribute cocaine.

    On November 17, 2022, Charles Carter, 36, of Sacramento, was sentenced to 70 months in prison for conspiracy to distribute and to possess with intent to distribute at least 500 grams of cocaine.

    On November 17, 2022, Andre Hellams, 40, of North Highlands, pleaded guilty to two counts of using a communication facility to facilitate a drug trafficking offense.  Hellams is scheduled to be sentenced on February 17, 2025. 

    On December 8, 2022, Michael Hampton, 57, of Vallejo, was sentenced to 60 months in prison for to conspiracy to distribute and possess with intent to distribute at least 500 grams of cocaine.

    On March 16, 2023, Arlington Caine, 48, of Rio Linda, was sentenced to 22 months in prison for two counts of using a communication facility to facilitate a drug trafficking offense.

    On March 14, 2024, Bobby Conner, 51, of Sacramento, was sentenced to six months in prison for two counts of using a communication facility to facilitate a drug trafficking offense.

    On April 25, 2024, 2023, Dwight Haney, 52, of Sacramento was sentenced to time served for two counts of using a communication facility to facilitate a drug trafficking offense.

    On May 30, 2024, Jerome Adams, 56, of North Highlands, was sentenced to 60 months in prison for two counts of using a communication facility to facilitate a drug trafficking offense.

    On August 8, 2024, Steven Hampton, 64, of Sacramento, was sentenced to 84 months in prison for possession with intent to distribute at least 500 grams of cocaine.

    On September 26, 2024, Mark Martin, 63, of Sacramento was sentenced to time served for using a communication facility to facilitate a drug trafficking offense.

    On August 1, 2024, Alex White, 61, of North Highlands, was sentenced to a term of 38 months (time served) for distribution of cocaine base.

    On September 3, 2024, Tyrone Anderson, 44, of Sacramento, was sentenced to 135 months in prison for conspiracy to distribute and to possess with intent to distribute at least 5,000 grams of cocaine and 280 grams of cocaine base and for conspiracy to distribute and possess with intent to distribute heroin.

    Charges are pending against Yovanny Ontiveros, 41, of Sacramento, and Wilmer Harden, 52, of Elk Grove. The charges are only allegations; the defendants are presumed innocent until and unless proven guilty beyond a reasonable doubt.

    This prosecution is part of the Organized Crime Drug Enforcement Task Forces (OCDETF) Strike Force Initiative, which provides for the establishment of permanent multi-agency task force teams that work side-by-side in the same location. The Sacramento Strike Force is a co-located model enables agents from different agencies to collaborate on intelligence-driven, multi-jurisdictional operations to disrupt and dismantle the most significant drug traffickers, money launderers, gangs, and transnational criminal organizations. The specific mission of the Sacramento Strike Force is to identify, investigate, disrupt, and dismantle the most significant drug trafficking organizations (DTOs) and transnational criminal organizations (TCOs) shipping narcotics, firearms, and money through the Eastern District of California, thereby reducing the flow of these criminal resources in California and the rest of the United States. The Sacramento Strike Force leads intelligence-driven investigations targeting the leadership and support elements of these DTOs and TCOs operating within the Eastern District of California, regardless of their geographic base of operations.

    MIL Security OSI –

  • MIL-OSI Security: Indian National Is Sentenced To Prison For $20 Million Dollar Fraud Scheme Involving Fake Cryptocurrency Exchange Websites

    Source: Office of United States Attorneys

    CHARLOTTE, N.C. – A citizen of the Republic of India was sentenced to prison today for stealing more than $20 million from hundreds of victims through the use of fake or “spoofed” websites mimicking the cryptocurrency exchange website Coinbase, announced Dena J. King, U.S. Attorney for the Western District of North Carolina. U.S. District Judge Kenneth D. Bell ordered Chirag Tomar, 31, to serve 60 months in prison followed by two years of supervised release.

    Jason Byrnes, Special Agent in Charge of the United States Secret Service, Charlotte Field Office, joins U.S. Attorney King in making today’s announcement.

    According to filed court documents and today’s sentencing hearing, from as early as June 2021, Tomar and his co-conspirators engaged in a spoofing scheme to steal millions in cryptocurrency from hundreds of victims located worldwide and in the United States, including in the Western District of North Carolina. Spoofing, as it pertains to cybercrime, is when a malicious cyber actor disguises an email address, sender name, or website URL to convince victims they are interacting with a trusted source. Court documents show that Tomar and his co-conspirators executed the fraud by spoofing Coinbase, one of the largest virtual currency exchanges in the world, that allows customers to buy, sell or trade cryptocurrencies.

    Coinbase operated a “Pro” version of its exchange, which was found at the URL “Pro.Coinbase.Com.” According to court documents, Tomar and his co-conspirators spoofed the Coinbase Pro website by using a similar fake URL, CoinbasePro.Com, and created a fraudulent website to mimic the authentic website. Once victims entered their login credentials into the fake website, an authentication process was triggered. In some instances, victims were tricked into providing their login and authentication information of the real Coinbase website to fraudsters. Other times, victims were tricked into allowing fake Coinbase representatives to execute remote desktop software, which enabled fraudsters to gain control of victims’ computers and access their legitimate Coinbase accounts. The fraudsters also impersonated Coinbase customer service representatives and tricked the users into providing their two-factor authentication codes to the fraudsters over the phone. Once the fraudsters gained access to the victims’ Coinbase accounts, the fraudsters quickly transferred the victims’ Coinbase cryptocurrency holdings to cryptocurrency wallets under the fraudsters’ control.

    Court documents show that, in February 2022, a victim located in the Western District of North Carolina attempted to log into his Coinbase account through the fraudulent website. The spoof website immediately notified the victim that his account was locked and prompted the victim to use a number provided to call a fake Coinbase representative. The fake representative tricked the victim into providing his two-factor authentication information, ultimately gaining access into the victim’s real Coinbase account. Using the information, fraudsters stole cryptocurrency from the victim’s Coinbase wallet worth over $240,000.

    According to court records, Tomar used the victims’ stolen log-in credentials to access the victim accounts and transfer the victims’ cryptocurrency holdings to wallets controlled by Tomar. After Tomar received the stolen cryptocurrency, he would convert it to other forms of cryptocurrency and move the funds amongst many wallets controlled by Tomar. Ultimately, the cryptocurrency was converted into cash which was then distributed to Tomar and his co-conspirators.

    Tomar used the victims’ funds to pay for his lavish lifestyle, including to purchase Audemars Piguet and other expensive watches, to buy luxury vehicles like Lamborghinis and Porsches, and to make trips to Dubai, Thailand and elsewhere.

    On December 20, 2023, Tomar was arrested at the Atlanta airport upon entering the United States. On May 20, 2024, Tomar pleaded guilty to wire fraud conspiracy. Tomar remains in federal custody and will be transferred to the custody of the Federal Bureau of Prisons upon designation of a federal facility. 

    U.S. Attorney King commended the U.S. Secret Service for their investigation of the case and thanked the FBI in Nashville for their invaluable assistance.

    Assistant U.S. Attorney Matthew T. Warren of the U.S. Attorney’s Office in Charlotte is prosecuting the case.

     

    MIL Security OSI –

  • MIL-OSI Security: Charlotte Man Is Sentenced To Prison For $700,000 Investment Fraud Scheme

    Source: Office of United States Attorneys

    CHARLOTTE, N.C. – Today, U.S. District Judge Kenneth D. Bell sentenced Frank Lynold Mercado, 27, of Charlotte, to 41 months in prison followed by two years of supervised release for defrauding over 100 victims of more than $700,000 through a fraudulent investment scheme, announced Dena J. King, U.S. Attorney for the Western District of North Carolina. Mercado was also ordered to pay $709,690 in restitution.

    Robert M. DeWitt, Special Agent in Charge of the Federal Bureau of Investigation (FBI), Charlotte Division, joins U.S. Attorney King in making today’s announcement.

    According to court documents and court proceedings, from July 2019 to December 2022, Mercado executed an investment fraud scheme in which he caused more than 100 investors to sustain nearly $700,000 in losses. Mercado induced the victims – many of whom were his friends, former co-workers, and other social acquaintances – to invest their money by holding himself out to be an expert in options trading with years of experience and a successful track record. As part of the scheme, Mercado falsely represented to victim investors that he would use their money for options trading and similar investments through his hedge fund, Tiger-Wolf Capital, LLC (Tiger-Wolf Capital). Instead of investing the funds as promised, Mercado used a portion of the money to make Ponzi-style payments to investors, and to fund his personal lifestyle, including to make large credit card payments and pay for personal expenditures such as Airbnb rentals, restaurants, and bars.

    Court documents show that with the money that he did invest, Mercado suffered trading losses and then lied to investors about the performance of their investments. For example, Mercado periodically sent updates to victim investors through emails, text messages, or screenshots of purported account portals that reflected fictitious trading gains. He also made false and fraudulent statements to investors about substantial returns on their investments in order to induce his victims to invest additional money with him and/or to leave their current investments with him. According to court documents, as a result of the scheme, Mercado caused victims to suffer losses, with some victims experiencing significant financial hardship.

    On June 12, 2022, Mercado pleaded guilty to wire fraud. He will be ordered to report to the Federal Bureau of Prisons upon designation of a federal facility.

    On May 30, 2024, the U.S. Securities and Exchange Commission announced the filing of a complaint against Mercado in the U.S. District Court for the Western District of North Carolina, charging Mercado and Tiger-Wolf Capital with securities violations.  On July 2, 2024, the court, pursuant to consents signed by Mercado and Tiger-Wolf, enjoined them from violating the charged provisions and ordered them to pay disgorgement, prejudgment interest, and civil money penalties in amounts to be determined at a later date.  The court also barred Mercado from serving as officer or director of a public company and enjoined him from participating in the issuance, purchase, offer, or sale of securities, except in his personal account.

    U.S. Attorney King commended the FBI for their investigation of the case and thanked the U.S. Securities and Exchange Commission for their coordination and assistance.

    Special Assistant U.S. Attorney Eric Frick of the U.S. Attorney’s Office in Charlotte prosecuted the case. 

    MIL Security OSI –

  • MIL-OSI Security: Charlotte Man Is Sentenced To Prison For Armed Robberies Of Two Convenience Stores

    Source: Office of United States Attorneys

    CHARLOTTE, N.C. – Thomas Lagene Franklin, 56, of Charlotte, was sentenced today to 15 years in prison followed by three years of supervised release for the armed robbery of two local convenience stores, announced Dena J. King, U.S. Attorney for the Western District of North Carolina.

    Robert M. DeWitt, Special Agent in Charge of the Federal Bureau of Investigation (FBI), Charlotte Division, and Chief Johnny Jennings of the Charlotte Mecklenburg Police Department, join U.S. Attorney King in making today’s announcement.

    According to court documents and court proceedings, on August 7, 2022, at approximately 3:30 a.m., a black vehicle pulled up alongside a male victim who was walking toward his hotel room in Charlotte. The driver of the vehicle, later identified as Franklin, demanded money from the victim. When the victim replied that he did not have any money, Franklin fired multiple shots at the victim striking him in the leg before driving away.

    According to filed court documents, on August 9, 2022, Franklin robbed at gunpoint the Circle K convenience store located at 2833 Freedom Drive, in Charlotte. Court records show that, at approximately 1:45 a.m., Franklin entered the store wearing a bucket-style fishing hat with clear safety glasses and a black surgical mask. Upon entering the store, Franklin posed as a customer, brought items to the counter, and gave the clerk money to pay for those items. When the clerk opened the register, Franklin pulled a small silver semiautomatic handgun from his pocket, pointed it at the clerk, and demanded money in the register. The clerk complied and Franklin fled the scene.

    According to court records, later the same day, the 7-Eleven convenience store located at 8315 Steele Creek Road, in Charlotte, was robbed at gunpoint in a similar fashion as the Circle K

    robbery. At approximately 6:50 a.m., Franklin entered the store dressed identical to the robber from the Circle K robbery. Once again, Franklin acted as a customer and pretended to buy and pay for his items. When the store clerk opened the register, Franklin pulled out a small silver semi-automatic handgun and demanded money. The store clerk gave Franklin money and Franklin fled the scene. CMPD officers arrested Franklin the following day. A firearm recovered over the course of the arrest was identified as the gun used in the shooting and the two robberies.

    On February 7, 2024, Franklin pleaded guilty to two counts of Hobbs Act robbery and one count of possession of a firearm by a convicted felon. He is currently in federal custody and will be transferred to the custody of the Federal Bureau of Prisons upon designation of a federal facility.

    U.S. Attorney King commended the FBI and CMPD for their investigation of the case.

    Assistant U.S. Attorney Dana Washington of the U.S. Attorney’s Office in Charlotte prosecuted the case.

     

    MIL Security OSI –

  • MIL-OSI Security: Employee Who Stole More than $430,000 from San Diego Regional Economic Development Corporation Sentenced

    Source: Office of United States Attorneys

    SAN DIEGO – Escondido resident Katherine Lu Acquista, the former director of operations and accounting for the San Diego Regional Economic Development Corporation, was sentenced in federal court today to 12 months and 1 day in custody for stealing approximately $433,275.89 from her then-employer.  She was also ordered to pay a fine of $50,000.

    According to court documents, while employed at the non-profit organization known as EDC, Acquista used her access and authority to put personal expenses on EDC credit cards and pay those expenses using EDC funds. She also directed other employees to issue checks to her from the EDC company bank account. She then caused false entries about these transactions to be made in the EDC’s accounting system to disguise her ongoing theft. In addition, she stole from EDC’s flexible spending and payroll system. All told, she exploited her position of trust to steal more than $430,000 over at least a five-year period, between August 2017 and August 2022.

    The EDC is a 501(c)(3) charitable non-profit organization that works to grow San Diego’s economy and regional prosperity. The EDC’s mission is to maximize the region’s economic competitiveness and global competitiveness.  It is funded by individual and corporate donations, grants and investments from nearly 200 companies, public agencies, and private organizations.

    Explaining the impact of her crimes, the Chief Operating Officer of EDC stated, “[San Diego Regional Economic Development Corporation] is a nonprofit organization with a mission to maximize the region’s economic prosperity and raise our global competitiveness. Acquista’sactions defied two of our closely held values – accountability and integrity.”

    “Members of our community who donate to local non-profits depend on the integrity and stewardship of those entrusted with such funds,” said U.S. Attorney Tara McGrath. “This sentence serves to remind those engaged in crime for profit that whether your victim is the taxpayer, government, or a local non-profit, you will be held accountable.”

    “Those who seek to misappropriate non-profit donations are acting contrary to the interest of the public good. The FBI stands ready to investigate those who violate the trust of the donors and diminish the efforts of non-profit organizations such as the San Diego Regional Economic Development Corporation,” said San Diego FBI Special Agent in Charge Stacey Moy.

    This case is being prosecuted by Assistant U.S. Attorney Valerie H. Chu. Former Assistant U.S. Attorney Michelle Wasserman assisted in the case.

    DEFENDANT                                               Case Number 24CR0765-AJB

    Katherine Lu Acquista                                    Age: 47                                   Escondido, CA

    SUMMARY OF CHARGES

    Wire Fraud – Title 18, U.S.C., Section 1343

    Maximum penalty: Twenty years in prison and $250,000 fine

    INVESTIGATING AGENCY

    Federal Bureau of Investigation 

    MIL Security OSI –

  • MIL-OSI Security: Escapee from Bloomfield Halfway House Sentenced to Additional Prison Time

    Source: Office of United States Attorneys

    Vanessa Roberts Avery, United States Attorney for the District of Connecticut, announced that JONATHAN McEWEN, 35, formerly of Vernon, was sentenced today by U.S. District Judge Michael P. Shea in Hartford to 14 months of imprisonment for escaping from a Bloomfield halfway house where he was completing a federal prison term.

    According to court documents and statements made in court, on February 14, 2022, McEwen was sentenced in Hartford federal court to 42 months of imprisonment for unlawful possession of a firearm by a felon.  On August 1, 2023, McEwen was transferred from a federal prison in Berlin, New Hampshire, to the Drapelick Center, a Residential Reentry Center (halfway house) in Bloomfield, to complete his custodial sentence.  On November 27, 2023, McEwen was authorized to leave the halfway house to attend a state court hearing in Manchester.  He failed to return to the halfway house as required.  On December 6, 2023, McEwen was arrested by the Connecticut State Police and the Hartford Police Department on state charges unrelated to his escape.

    McEwen has been detained since his arrest.  On July 16, 2024, he pleaded guilty to escape from the custody of the Attorney General.

    This matter was investigated by the U.S. Marshals Service, with the assistance of the Connecticut State Police and Hartford Police Department.  The case was prosecuted by Assistant U.S. Attorney David J. Sheldon.

    MIL Security OSI –

  • MIL-OSI Security: Federal Prisoner Indicted for Assaulting Correctional Officer at FCI Herlong

    Source: Office of United States Attorneys

    SACRAMENTO, Calif. — A federal grand jury returned a single count indictment today against Hewer Berlany Santos, 29, of Los Angeles, charging him with assaulting a federal officer, United States Attorney Phillip A. Talbert announced.

    According to court documents, on or about Aug. 21, 2023, Santos assaulted a federal correctional officer while the officer was working at a United States federal prison located in Herlong, California.  The assault caused the officer bodily injury.

    This case is the product of an investigation by the Federal Bureau of Prisons and the Federal Bureau of Investigation. Assistant United States Attorney Haddy Abouzeid is prosecuting the case.

    If convicted, the defendant faces a maximum statutory penalty of twenty years in prison and a $250,000 fine. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables. The charges are only allegations; the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.

    MIL Security OSI –

  • MIL-OSI Video: 5th Joint BoC – ECB – NY Fed Conference – Session 6

    Source: European Central Bank (video statements)

    Session 6 – Trade, firms and expectations measurement

    Session chair: Maarten Dossche, European Central Bank

    The Causal Effects of Expected Depreciations
    Martha Elena Delgado, Inter American Development Bank
    Juan Herreno, University of California, San Diego
    Marc Hofstetter, Universidad de los Andes and CEDE
    Mathieu Pedemonte*, Federal Reserve Bank of Cleveland

    The Coherence Side of Rationality: Theory and evidence from firm plans
    Pamela Giustinelli* and Stefano Rossi, both Bocconi University

    A Choice-Based Approach to the Measurement of Inflation Expectations
    Olga Goldfayn-Frank*, Deutsche Bundesbank
    Pascal Kieren, Heidelberg University
    Stefan Trautmann, Alfred-Weber-Institute

    https://www.youtube.com/watch?v=yfdI2D-qE20

    MIL OSI Video –

  • MIL-OSI Video: 5th Joint BoC – ECB – NY Fed Conference – Policy Panel

    Source: European Central Bank (video statements)

    Chair: Philip R. Lane, Member of the Executive Board of the ECB

    Panellists:

    Yuriy Gorodnichenko, University of California, Berkeley
    Kim Huynh, Bank of Canada
    Wilbert van der Klaauw, Federal Reserve Bank of New York

    https://www.youtube.com/watch?v=jlg3W8c9QoM

    MIL OSI Video –

  • MIL-OSI Video: 5th Joint BoC – ECB – NY Fed Conference – Session 5

    Source: European Central Bank (video statements)

    Session 5 – Geopolitical shocks, uncertainty and expectations

    Session chair: Oscar Arce, European Central Bank

    Do Election Shocks Affect Economic Expectations?
    Olivier Armantier, Gizem Kosar, Giorgio Topa* and Wilbert van der Klaauw, all Federal Reserve Bank of New York

    The Causal Effects of Inflation Uncertainty on Households’ Beliefs and Actions
    Olivier Coibion, University of Texas at Austin
    Dimitris Georgarakos*, European Central Bank
    Yuriy Gorodnichenko, University of California, Berkeley
    Geoff Kenny, European Central Bank

    Households’ Subjective Expectations: Disagreement, Common Drivers and Reaction to Monetary Policy
    Stefano Pica, Banca d’Italia
    Clodomiro Ferreira*, Banco de España

    https://www.youtube.com/watch?v=Tej_bceaiwY

    MIL OSI Video –

  • MIL-OSI New Zealand: Life-long love of nature leads EIT student to important local environmental research | EIT Hawke’s Bay and Tairāwhiti

    Source: Eastern Institute of Technology – Tairāwhiti

    16 mins ago

    Ryan Bauckham is in his final year of the Bachelor of Applied Science (Biodiversity Management), which EIT offers in partnership with Unitec.

    A life-long love of exploring the outdoors has been the incentive for an EIT student to pursue a career in environmental research in Hawke’s Bay.

    Ryan Bauckham, 35, is in his final year of the Bachelor of Applied Science (Biodiversity Management), which EIT offers in partnership with Unitec.

    He has currently been  researching Lepidoptera (moths and butterflies)  in a significant forest stand called Puahanui found near Gwavas , Tikokino.

    “It’s actually the largest stand of remnant podocarp forest in Hawke’s Bay and I’ve recorded just over 200 species of Lepidoptera there.”

    “ Most people aren’t aware there are so many moths. They are generally thought of  as nondescript brown insects, that you don’t really pay that much attention to, unless they are coming to the outdoor lights at night. But when you look at moths closer, there’s a stunning diversity, all sorts of shapes, colours and sizes.  I just find them really quite endearing and beautiful.”

    Ryan’s study means he spends a lot of time out in nature and for him it is more than just a job, but a passion.

    After leaving Karamu High School , Ryan became a postie with New Zealand Post, which he did for ten years. However, he always felt he wanted more.

    “It’s been a lifelong interest of mine, and I’ve been heading out regularly to the mountains since I was a teenager. And birds have been my main interest in life for as long as I can remember.”

    After leaving NZ Post, Ryan ended up living for five years in a camper van.

    “While I was at NZ Post, I was able to travel around the country thanks to the flexibility of work. And after that, I was able to travel more. I spent the winters overseas, mostly in Southeast Asia, as well as the Pacific Islands.”

    The turning point for Ryan was on the Kinabatangan River in Borneo in 2019 when he realised that he wanted more than “groundhog day”.

    He returned to New Zealand, but life changed even more with COVID-19 and his young son Yahya coming into his fulltime care in 2021.

    It was an advertisement for the Diploma in Environment Management (Level 5) that attracted Ryan’s attention and he decided to go for it.

    “It was really scary, actually, to give up work. But I thought that I’m not getting any younger, so I decided to make a change.”

    He says that he found going back to studying fulfilling, but soon found his interest moving from birds to insects.

    “I spent a lot of time that summer recording moths and learning their taxonomy. I was already reading a lot of research papers, but then going back to study and having to do that as a task, it felt really fulfilling.”

    Ryan faced a few challenges in his studies, the first being learning to use computers as he had not grown up with one, as well as dealing with COVID-19 lockdowns and Cyclone Gabrielle.

    However, that is all in the past and Ryan is focused on his research, which recently received a funding boost from Biodiversity Hawke’s Bay. Ryan and his supervisor, Dr Amelia McQueen, were one of thirteen groups that received support from the Environmental Enhancement Contestable Fund, which is funded by the Hawke’s Bay Regional Council.

    It will play a role in enabling Ryan to continue his research.

    “Lepidoptera also play real crucial roles in the ecosystem. They’re pollinators, decomposers and they are prey for larger organisms.”

    Ryan says that even though there are about 2,000 species in New Zealand, the life histories of many of them are “poorly understood”.

    “We don’t know their host plants or even what the larvae look like. They’re often just being described from the adult specimens. What I’m trying to do is make a comprehensive species list for the region, just simply because historically moths  have been understudied.”

    The site on private land drew Ryan because it had been deer-fenced in 2020 which allowed the understorey of the forest to regenerate.

    “When I visited there, it just felt the right place, simply because it is the largest forest remnant in Hawke’s Bay. And at one time, the whole region would have been covered in forests like that.”

    “And there’s a lot of species there that are relics, really, really relics of another age, and you wouldn’t find them outside of that environment, in the pastoral land or like an exotic forest or a newly planted one. Fortunately the landowners are really conservation focused people.”

    EIT Environmental Management Lecturer Dr Amelia McQueen agrees: “Puahanui bush is a really special place to study flora and fauna and we are lucky there are places like this still around in Hawke’s Bay.”

    “ Ryan’s study is amazing, over 200 moths and some of the observations are new for the North Island or one of a very few observations of these moths actually recorded for New Zealand. Ryan’s Lepidoptera identification skills and determination, especially doing observations on very cold nights in winter, has made his work particularly important. . . and there is more to come!”

    As for the future, Ryan does not discount continuing his studies, but there is no doubt that he has found his calling.

    MIL OSI New Zealand News –

  • MIL-OSI Asia-Pac: HKMoA receives sponsorship from Susan Chen Foundation for The Next Generation Curators Programme to cultivate future museum curatorial talent (with photo)

    Source: Hong Kong Government special administrative region

    HKMoA receives sponsorship from Susan Chen Foundation for The Next Generation Curators Programme to cultivate future museum curatorial talent (with photo)
    HKMoA receives sponsorship from Susan Chen Foundation for The Next Generation Curators Programme to cultivate future museum curatorial talent (with photo)
    ******************************************************************************************

         The Hong Kong Museum of Art (HKMoA) is honoured to receive a generous sponsorship from the Susan Chen Foundation with which to launch The Next Generation Curators Programme, which aims to cultivate future museum curatorial talent. Applications will be invited for the programme’s six openings. Successful candidates will receive training and internship opportunities provided by the HKMoA for two years in different aspects of the museum, thus enhancing their understanding of museum operations and the art industry, and developing the next generation of curators for a career in the museum and art world.          The programme includes research of the museum collections, artists, and related projects; assisting in curation, managing and co-ordinating exhibitions and programmes organised by the HKMoA; assisting with copywriting, editing and translation; and the management, promotion and publicity of the HKMoA’s social media channels, etc.     Applications for the programme will be open from October 21 to November 10 for Hong Kong residents over 18 years old with a Hong Kong identity card and holders of a Bachelor’s Degree from a Hong Kong university or equivalent. Candidates majoring in related subjects, and with at least one year of full-time working experience in relevant fields, are preferred. For details, please visit the HKMoA’s website (hk.art.museum/en/web/ma/news/scf.html).     The late Ms Susan Chen was a globally renowned collector and dealer in Chinese art. Established in 2022, the Susan Chen Foundation is a Hong Kong-based philanthropic organisation with a mission to promote Chinese art in the local community and beyond, supporting education, research, innovation and careers in Chinese art and art history, thereby also supporting Hong Kong’s position as a major cultural hub. This sponsorship perpetuates the passion for art, culture and philanthropic spirit quietly demonstrated by Ms Chen during her life.

     
    Ends/Friday, October 18, 2024Issued at HKT 17:22

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    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Holy See Press Office Communiqué: Audience with the President of the Republic of Liberia

    Source: The Holy See

    Holy See Press Office Communiqué: Audience with the President of the Republic of Liberia, 18.10.2024

    Today, 18 October 2024, in the Vatican Apostolic Palace, the Holy Father Francis received in audience the President of the Republic of Liberia, His Excellency Mr. Joseph Nyuma Boakai Sr., who subsequently met with His Eminence Cardinal Pietro Parolin, Secretary of State of His Holiness, accompanied by His Excellency Archbishop Paul Richard Gallagher, Secretary for Relations with States and International Organizations.
    During the cordial talks at the Secretariat of State, the good relations between the Holy See and Liberia were evoked, as well as the collaboration with the Catholic Church in the fields of education and healthcare, and some aspects of the social and economic situation of the country were discussed.
    The conversation continued with an exchange of opinions on current international affairs, with particular reference to the regional situation and migratory phenomena.
    From the Vatican, 18 October 2024

    MIL OSI Europe News –

  • MIL-OSI Translation: Timor-Leste welcomes the Statement by the Chair of the 44th and 45th ASEAN and Related Summits

    MIL OSI Translation. Timor-Leste Portuguese to English –

    Ministry of Foreign Affairs and Cooperation

    ……………………………………………. ……………………………………………. …………………….

    Press release

    Timor-Leste welcomes the Statement by the Chair of the 44th and 45th ASEAN and Related Summits

    Timor-Leste congratulates ASEAN and the Lao People’s Democratic Republic on the successful conclusion of the 44th and 45th ASEAN and Related Summits from 9 to 11 October 2024. We also express our gratitude to the Lao People’s Democratic Republic for its leadership throughout the year.

    We welcome the decision to support the implementation of the “Objective and Criteria-Based Roadmap for Timor-Leste’s Full Membership in ASEAN”. Timor-Leste appreciates the positive momentum towards our ASEAN membership journey and extends its sincere gratitude to ASEAN for recognizing our continued efforts. We also express our appreciation to Member States for their continued support and commitment to this important process.

    As a sign of progress, Timor-Leste hopes to meet the Roadmap criteria for full ASEAN membership. Intensive preparations are underway to secure accession to ASEAN agreements and legal instruments under the three pillars, as stipulated in the Roadmap.

    Timor-Leste has taken several important steps towards ASEAN membership, including advocacy campaigns and national-level dialogues to raise awareness of ASEAN, participation in capacity-building and leadership programmes, and strengthening bilateral relations with all ASEAN Member States. Timor-Leste also has an expanded technical work programme aimed at introducing ASEAN legal frameworks into national policy development, ensuring alignment and integration of government policies and regulatory frameworks with ASEAN standards.

    The Timorese Government’s top-level leadership has been driving the accession process forward. Timor-Leste’s Council of Ministers adopted a resolution to establish an inter-ministerial technical working group on ASEAN accession, which catalyzed a dynamic whole-of-government work plan. Most recently, the 9th Constitutional Government appointed a Vice-Minister for ASEAN Affairs to accelerate accession work and oversee the Directorate-General for ASEAN Affairs in the Ministry of Foreign Affairs and Cooperation, which coordinates and leads the accession process.

    Timor-Leste remains committed to this process and will continue to cooperate with ASEAN and dialogue partners on our journey towards full membership.

    Finally, the Government of Timor-Leste also welcomes the Malaysian Presidency in 2025 and looks forward to working closely with the President on matters of regional cooperation, including Timor-Leste’s accession. ENDS

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

  • MIL-OSI Russia: Financial news: 10/18/2024, 11-24 the values of the lower limit of the repo price corridor, the carry rate and the range of interest rate risk assessment of the EUTR (EuroTrans) security were changed.

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    10/18/2024

    11:24

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 18.10.2024, 11-24 (Moscow time), the values of the lower limit of the repo price corridor with the settlement code Y0/Y1Dt (up to -77.43%), the transfer rate and the range of interest rate risk assessment (up to -0.88 rubles, equivalent to a rate of 106.08%) of the EUTR (EuroTrans) security were changed.

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

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

    https://www.moex.com/n74104

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 18.10.2024, 11-18 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A0ZYDU3 (SverdlOb4) were changed.

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    10/18/2024

    11:18

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 18.10.2024, 11-18 (Moscow time), the values of the upper limit of the price corridor (up to 95.79) and the range of market risk assessment (up to 423.03 rubles, equivalent to a rate of 8.75%) of the RU000A0ZYDU3 (SverdlOb4) security were changed.

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

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

    https://www.moex.com/n74102

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 10/18/2024, 10-58 the values of the lower limit of the repo price corridor, the carry rate and the range of interest rate risk assessment of the EUTR (EuroTrans) security were changed.

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    10/18/2024

    10:58

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 18.10.2024, 10-58 (Moscow time), the values of the lower limit of the repo price corridor with settlement code Y0/Y1Dt (up to -62.56%), the transfer rate and the range of interest rate risk assessment (up to -0.71 rubles, equivalent to a rate of 89.72%) of the EUTR (EuroTrans) security were changed.

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

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

    https://www.moex.com/n74100

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 10/18/2024, 10-42 the values of the lower limit of the repo price corridor, the carry rate and the range of interest rate risk assessment of the EUTR (EuroTrans) security were changed.

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    10/18/2024

    10:42

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 18.10.2024, 10-42 (Moscow time), the values of the lower limit of the repo price corridor with settlement code Y0/Y1Dt (up to -47.69%), the transfer rate and the range of interest rate risk assessment (up to -0.55 rubles, equivalent to a rate of 73.36%) of the EUTR (EuroTrans) security were changed.

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

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

    https://www.moex.com/n74098

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: Silver rubles to the mint (18.10.2024)

    MILES AXLE Translation. Region: Russian Federation –

    Source: Central Bank of Russia –

    On October 18, 2024, the Bank of Russia will issue into circulation commemorative silver coins in denominations of 3 and 200 rubles “300th Anniversary of the St. Petersburg Mint” of the “Historical Events” series.

    The Saint Petersburg Mint is one of the largest in the world. It was founded by decree of Peter I and is located in the most protected place of the Northern capital – on the territory of the Peter and Paul Fortress. Commemorative and investment coins made of precious metals, state awards, commemorative medals, and various tokens are minted here. The hallmark of the Saint Petersburg Mint is on the largest gold and silver commemorative coins of the Bank of Russia weighing 5 kilograms.

    Silver coins of 3 rubles (pure precious metal content – 31.1 g, alloy fineness – 925) and 200 rubles (pure precious metal content – 3000.0 g, alloy fineness – 925) have a round shape with a diameter of 39.0 and 130.0 mm, respectively.

    There is a raised edge along the circumference of both the obverse and reverse sides of the coins.

    On the obverse of the coins there is a relief image of the State Emblem of the Russian Federation, there are inscriptions: “RUSSIAN FEDERATION”, “BANK OF RUSSIA”, coin denomination “3 RUBLES”, “200 RUBLES”, date “2024”, designation of the metal according to the Periodic Table of Elements of D.I. Mendeleyev, alloy fineness, trademark of the St. Petersburg Mint and pure mass of precious metal.

     
     

    On the reverse side:

    — the 3-ruble coin (catalogue number 5111-0512) features relief images of a screw press for minting coins, the obverse of a 1724 ruble and the reverse of a 1924 fifty-kopeck coin, and an image of the St. Petersburg Mint building, made using laser matting; the background areas around the press are made using laser matting, the background above the image of the mint building is made using microrelief with a light interference effect; there are relief inscriptions: along the rim — “SAINT PETERSBURG MINT”, at the bottom in two lines — “300 YEARS”.

     

    The side surface of the coin is ribbed.

    The coin is made in proof quality.

    The mintage of the coin is 3.0 thousand pieces;

    — the 200-ruble coin (catalog No. 5119-0008) features relief images of the mint’s founder, Peter I, a medal-copying machine, the reverse of a chervonets of 1923, the reverse of the “St. George the Victorious” investment coin, the reverse of a ruble minted in 1724, reverses and obverses of change coins of different periods, a coin die, an image of the St. Petersburg Mint building bounded by a circle against a background of geometric images made using laser matting; there are inscriptions: “300 YEARS” at the top, and “ST. PETERSBURG MINT” in three lines at the bottom.

     

    The side surface of the coin is ribbed.

    The coin is made in proof-like quality.

    The mintage of the coin is 0.05 thousand pieces.

    The issued coins are legal tender in the Russian Federation and must be accepted at face value for all types of payments without restrictions.

    When using the material, a link to the Press Service of the Bank of Russia is required.

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

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

    http://vvv.kbr.ru/press/PR/?file=638648419322157504COINS.htm

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 10/18/2024, 10-25 the values of the lower limit of the repo price corridor, the carry rate and the range of interest rate risk assessment of the ALRS (ALROSA ao) security were changed.

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    10/18/2024

    10:25

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC) on 18.10.2024, 10-25 (Moscow time), the values of the lower limit of the repo price corridor with settlement code Y0/Y1Dt (up to -24.26%), the transfer rate and the range of interest rate risk assessment (up to -0.127 rubles, equivalent to a rate of 47.59%) of the ALRS security (ALROSA ao) were changed.

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

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

    https://www.moex.com/n74096

    MIL OSI Russia News –

  • MIL-OSI Russia: Financial news: 10/18/2024, 10-18 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the RU000A100YQ0 (Rosnft2P9) security were changed.

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Exchange – Moscow Exchange –

    10/18/2024

    10:18

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 18.10.2024, 10-18 (Moscow time), the values of the upper limit of the price corridor (up to 90.62) and the range of market risk assessment (up to 942.24 rubles, equivalent to a rate of 11.25%) of the RU000A100YQ0 (Rosnft2P9) security were changed.

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

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

    https://www.moex.com/n74094

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: CSSA caseload for September 2024

    Source: Hong Kong Government special administrative region

    CSSA caseload for September 2024
    CSSA caseload for September 2024
    ********************************

         The overall Comprehensive Social Security Assistance (CSSA) caseload in September showed a drop of 758 cases, representing a decrease of 0.4 per cent compared with that of August, according to the latest CSSA caseload statistics released by the Social Welfare Department today (October 18).               The total CSSA caseload at the end of September stood at 197 013 (see attached table), with a total of 264 829 recipients.           Analysed by case nature, low-earnings cases registered a month-to-month decrease of 2.9 per cent to 1 425 cases. Single parent cases decreased by 1.4 per cent to 19 549 cases. Unemployment cases declined by 0.7 per cent to 16 459 cases. Permanent disability cases dropped by 0.4 per cent to 16 936 cases. Ill-health cases dropped by 0.3 per cent to 27 974 cases. Old age cases slightly decreased by 0.1 per cent to 110 777 cases.

     
    Ends/Friday, October 18, 2024Issued at HKT 17:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: SFST to attend Annual Conference of Financial Street Forum 2024 in Beijing

    Source: Hong Kong Government special administrative region

    SFST to attend Annual Conference of Financial Street Forum 2024 in Beijing
    SFST to attend Annual Conference of Financial Street Forum 2024 in Beijing
    **************************************************************************

         The Secretary for Financial Services and the Treasury, Mr Christopher Hui, will depart for Beijing tomorrow (October 19) to attend the Annual Conference of the Financial Street Forum 2024.      This year’s annual conference, themed “Trust and Confidence – Work Together to Promote Financial Openness, Cooperate for Shared Economic Stability and Growth”, will be held in Beijing from October 18 to 20. More than 500 guests from over 30 countries and regions worldwide will attend the annual conference to exchange views on current economic and financial hot topics.     Mr Hui will deliver a keynote speech at the main forum tomorrow on empowering industries through financial support to drive high-quality development.     The Financial Street Forum was founded in 2012. The Annual Conference of the Financial Street Forum has been enhanced as a national, global and professional forum since 2020. This year’s annual conference is jointly hosted by the Beijing Municipal People’s Government, the People’s Bank of China, the National Financial Regulatory Administration, the China Securities Regulatory Commission, Xinhua News Agency and the State Administration of Foreign Exchange.       Mr Hui will return to Hong Kong on October 20. During his absence, the Under Secretary for Financial Services and the Treasury, Mr Joseph Chan, will act as the Secretary for Financial Services and the Treasury.

     
    Ends/Friday, October 18, 2024Issued at HKT 18:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: InvestHK and media partner South China Morning Post take deep dive into Hong Kong’s innovation ecosystem at InnoTech Forum 2024 (with photos)

    Source: Hong Kong Government special administrative region

         Organised by Invest Hong Kong (InvestHK) along with media partner South China Morning Post, the InnoTech Forum 2024 took place today (October 18) at the Hong Kong Ocean Park Marriott Hotel and was attended by over 200 guests. Through keynote addresses, in-depth panel discussions and presentations, the full-day forum provided audience members with an engaging discussion on the development of Hong Kong’s innovation ecosystem, long-term strategic plans and the practical applications of artificial intelligence (AI) and new energy technologies in reshaping the city and the economy. 

         During his keynote address at the forum, the Secretary for Innovation, Technology and Industry, Professor Sun Dong, said, “AI remains a key driver of I&T and business development. The Government has invested billions of dollars in cultivating an all-round AI ecosystem here in Hong Kong. Cyberport will soon put into operation its AI Supercomputing Centre (AISC) to support the strong computing demand from universities, research institutes and the industry. To support the commissioning of the AISC, the Government has allocated $3 billion to launch a three-year AI Subsidy Scheme. The Policy Address announced that the Government will pilot the use of a generative AI document processing copilot application, developed on the basis of a locally trained large language model, within the Government. In fact, a number of the hundred digital government and smart city initiatives that the Government presses ahead for rollout this year and next will make use of AI technology. Hong Kong stands on the cusp of making ground-breaking strides by capitalising on the vast potential of AI and other cutting-edge technologies. We are partners in this journey to seize the opportunities that lie ahead.”

         The Secretary for Environment and Ecology, Mr Tse Chin-wan, said, “In pursuit of carbon neutrality, green transformation is becoming a global trend and this will continue in the coming decades, triggering tremendous demands for green energy and various low-carbon technologies. Hydrogen is a secondary carrier of energy and is highly energy-efficient with less polluting potential. The Government published the Strategy of Hydrogen Development in Hong Kong in June this year. The Strategy puts forward four major strategies, namely improving legislations, establishing standards, aligning with the market, and advancing with prudence, with a view to getting the laws, standards and the basic infrastructure ready so as to create an environment conducive to the development of hydrogen energy in a prudent and orderly manner. By leveraging our advantage as an international hub, backed by our motherland and with innovation and devotion of the city, we can position Hong Kong as a key driver of hydrogen economy, towards carbon neutrality as well as a sustainable and prosperous future.”

         The discussion at the forum explored the importance of AI and new energy in integrating sustainability and resilience into modern cities, with panel discussions on the following topics:
     

    developing the AI ecosystem for long-term success with a focus on recent advancements in Hong Kong, including the development of cutting-edge infrastructure, talent cultivation, commercialisation of research, and financial incentives, and how a robust and sustainable AI ecosystem can benefit Hong Kong;
    real-life applications of AI in Hong Kong and beyond highlighting the latest trends and developments of AI innovations and how the city’s connected innovation system supports their growth on a global scale;
    How hydrogen is emerging as a core new energy priority, in line with the Hong Kong Government’s recently published hydrogen development strategy; and
    imagining Hong Kong’s future with innovative energy projects and how the city will evolve as these technologies mature and scale.

         The Director-General of Investment Promotion at InvestHK, Ms Alpha Lau, said, “This Forum has fostered meaningful dialogue, inspired new ideas and catalysed further collaboration between the Government, industry, academia and relevant stakeholders. As indicated in “The Chief Executive’s 2024 Policy Address” a couple of days ago, the Government has always spearheaded and enhanced the development of Hong Kong’s I&T industries and will continue to do so. Working together, we believe Hong Kong can remain at the forefront of innovation, harnessing the power of both AI and energy technologies to build a prosperous and sustainable future.”

         The Head of Innovation and Technology at InvestHK, Mr Andy Wong, said, “AI is one of the strategic pillars in our Government’s agenda to drive digital economy. To accelerate its development, the Government is establishing the AI Supercomputing Centre (AISC) and has set aside $3 billion to support the use of AISC financially. On the hydrogen front, legislation and standards shall be optimised to align with technology and market development, as well as enabling the trial of different hydrogen-related projects. All these will further propel Hong Kong to be a top-notch international innovation and technology hub, as well as a ‘living lab’ for technology to be adopted in other markets.”      

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Welfare cases dip 0.4%

    Source: Hong Kong Information Services

    The overall Comprehensive Social Security Assistance caseload dropped by 758 cases to 197,013 in September, down 0.4% from August, the Social Welfare Department announced today.

    The total number of recipients was 264,829.

    Low-earnings cases registered a month-to-month decrease of 2.9% to 1,425. Single parent cases fell 1.4% to 19,549, while unemployment cases dipped 0.7% to 16,459.

    Permanent disability cases dropped 0.4% to 16,936, while ill-health cases dipped 0.3% to 27,974 cases. Old age cases registered a 0.1% decrease to 110,777 cases.

    MIL OSI Asia Pacific News –

  • MIL-OSI New Zealand: College of Surgeons announces historic governance overhaul to strengthen future leadership

    Source: Royal Australasian College of Surgeons (RACS)

    The Royal Australasian College of Surgeons (RACS) is set to implement one of the most significant governance overhauls in its near 100-year history.

    After receiving overwhelming support from its membership, with 82.6 per cent of votes in favour, the College has an updated Constitution to strengthen financial and risk management as it navigates the complexities of the modern governance environment.

    Since its founding in 1927, the College has played a pivotal role in shaping surgical standards, education, and professionalism in Australia and Aotearoa New Zealand. While it continues to be at the forefront of surgical leadership, it became increasingly clear in recent years that the structure of the College was no longer fit-for-purpose.

    The constitutional update, which was the result of an extensive period of consultation with RACS Fellows, surgical specialty societies and other interested parties, provides for the establishment of a skills-based, professional-led governance Board. The Board will take on fiduciary responsibilities such as finance, audit, and risk management, leaving the RACS Council to carry out the core College business.  

    The new governance model represents a unified vision for a stronger, more resilient College—one that is well-positioned to lead the way in surgical care and education for years to come.

    “The passing of these constitutional updates is a testament to the power of collaboration and what can be achieved when stakeholders from across our network come together for a common purpose,” said Professor Owen Ung, RACS vice president and chair of the College’s Governance Committee.  

    “It is heartening to see the unity of feeling that a strong College benefits everyone involved—our members, our patients, and the wider healthcare community.”

    As the College prepares to implement these changes, RACS president Associate Professor Kerin Fielding said there is a renewed sense of optimism and momentum.  

    “We are entering a new era for our College. With these updates, we are well-positioned to embrace future challenges and opportunities, ensuring that we continue to lead with excellence in surgical care, education, and advocacy.”

    About the Royal Australasian College of Surgeons (RACS)

    RACS is the leading advocate for surgical standards, professionalism and surgical education in Australia and Aotearoa New Zealand. The College is a not-for-profit organisation that represents more than 8000 surgeons and 1300 surgical trainees and Specialist International Medical Graduates. RACS also supports healthcare and surgical education in the Asia-Pacific region and is a substantial funder of surgical research. There are nine surgical specialties in Australasia being: Cardiothoracic Surgery, General Surgery, Neurosurgery, Orthopaedic Surgery, Otolaryngology Head and Neck Surgery, Paediatric Surgery, Plastic and Reconstructive Surgery, Urology and Vascular Surgery. http://www.surgeons.org

    MIL OSI New Zealand News –

  • MIL-OSI China: Media registration now open for 2nd China International Supply Chain Expo

    Source: China State Council Information Office 3

    The registration platform for media representatives of the 2nd China International Supply Chain Expo (CISCE, hereinafter referred to as “Supply Chain Expo”) will be open to both domestic and international media from October 18th to November 10th, 2024.

    Journalists can register through official platforms, such as the Media Registration Section of the Online Media Center on official website of the Supply Chain Expo (https://media.cisce.org.cn/register) and the WeChat mini program named “Supply Chain Media Home”.

    For domestic media, it is necessary to submit their valid press cards issued by the General Administration of Press and Publication of China, screenshots of articles published within the last six months, or a certificate of employment issued by their media organizations. Foreign media are required to register using their permanent journalist permits or proof of their media organizations. Notifications will be dispatched via phone, SMS, or email. The details will be announced on official platforms of the Supply Chain Expo in a timely manner.

    The 2nd CISCE is scheduled on November 26th-30th, 2024, at the China International Exhibition Center in Beijing. With the theme of “Connecting the World for a Shared Future”, this year’s exhibition covers more than 100,000 square meters with 6 key industrial chains and 1 exhibition area: Advanced Manufacturing Chain, Clean Energy Chain, Smart Vehicle Chain, Digital Technology Chain, Healthy Life Chain, Green Agriculture Chain, and Supply Chain Service Area. It vertically showcases advanced concepts, products, and technologies of relevant industrial chains, and horizontally showcases supporting services such as finance and insurance, logistics and distribution, business consulting, legal services, etc.

    Media Registration Entry for Supply Chain Expo

    Access the Media Registration Area of the Online Media Center on the official website of the Supply Chain Expo (https://media.cisce.org.cn/register) or scan the QR of the “Supply Chain Media Home” WeChat mini-app to register.

    Contact: FU Zhichen; HE Ming

    Tel: 15589090767; 15601376301

    Email: guoyan@ccpit.org

    MIL OSI China News –

  • MIL-OSI China: Shanghai boasts 998 regional headquarters of multinationals

    Source: China State Council Information Office 3

    This panoramic aerial photo taken on Jan. 10, 2023 shows a view of Lujiazui area in the China (Shanghai) Pilot Free Trade Zone in east China’s Shanghai. [Photo/Xinhua]

    Shanghai, China’s financial hub and a popular foreign investment destination, is home to 998 regional headquarters of multinational companies at present, said the Shanghai Foreign Investment Association.

    Shanghai has over 75,000 foreign-invested enterprises, with the cumulative actual use of foreign capital reaching 350 billion U.S. dollars.

    Among them, 258 enterprises made it onto Shanghai’s top 100 rankings across four key categories in 2023, namely operating revenue, total imports and exports, tax contributions and job creation, according to the association’s announcement of the city’s top foreign-invested enterprises.

    In terms of the origin of investors, companies from the United States ranked first, with a total of 83 enterprises represented in the rankings, followed by 32 Japanese firms and 28 German companies. In 2023, Tesla Shanghai Co., Ltd. was the only enterprise to rank in the top 10 for all four categories, said the association.

    The municipal government of Shanghai issues certification to foreign companies’ regional headquarters as official recognition. In July, the certification was given to 30 regional headquarters of multinational companies and 15 foreign-funded research and development centers.

    Nearly half of them are from key industries prioritized by the city, such as electronic information, life sciences, advanced equipment, and consumption, including British pharmaceutical giant GlaxoSmithKline, French exhibition company GL events and global mining leader Anglo American. 

    “Shanghai is one of the most attractive destinations for foreign investment globally,” said Liu Ping, deputy secretary-general of the Shanghai municipal government, describing the foreign-invested enterprises gathered in Shanghai as a key engine driving the city’s industrial upgrades and a major force in promoting technological innovation.

    Official data indicates that foreign-invested enterprises in Shanghai contribute significantly to the city’s economy, accounting for nearly 60 percent of the city’s total imports and exports, 40 percent of its industrial output, one-third of its tax revenue, one-quarter of its GDP and one-fifth of its employment.

    MIL OSI China News –

  • MIL-OSI China: Idemitsu Kosan to boost investment in SW China

    Source: China State Council Information Office 3

    This aerial photo taken on July 14, 2023 shows the night view in Chengdu of southwest China’s Sichuan Province. [Photo/Xinhua]

    Idemitsu Kosan, a Fortune Global 500 company, has announced an investment increase in the southwestern Chinese metropolis of Chengdu, aiming to establish its Chinese headquarters there, local authorities said on Thursday.

    Idemitsu Kosan and Xi’an Manareco New Materials Co., Ltd., have reached cooperation agreement and two sides intended to increase investment and expand production of the former’s manufacturing base in the Chengdu high-tech zone.

    The new development aims to transform the electronic material manufacturing base into a Chinese headquarters that integrates research and development, manufacturing, sales and other functions, and contribute to the development of local new display sector.

    Founded in 1911, Idemitsu Kosan is one of the largest petrochemical enterprises in Japan. As one of the earlier Japanese companies to enter the Chinese market, Idemitsu Kosan’s investments in the Chinese mainland cover various fields including energy, chemicals, lubricants, high-performance materials and electronic materials.

    In May 2018, Idemitsu Kosan invested 240 million yuan (about 33.7 million U.S. dollars) in Chengdu to build its electronic material manufacturing base. This project is Idemitsu Kosan’s first OLED emissive material manufacturing plant in China.

    MIL OSI China News –