Category: AM-NC

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

    Source: GlobalData

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

    Posted in Business Fundamentals

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

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

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

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

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

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

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

    MIL OSI Economics

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

    Source: GlobalData

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

    Posted in Business Fundamentals

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

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

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

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

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

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

    * ≥ $1 billion

    MIL OSI Economics

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

    Source: GlobalData

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

    Posted in Business Fundamentals

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

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

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

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

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

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

    *≥ $1 billion

    MIL OSI Economics

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

    Source: GlobalData

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

    Posted in Insurance

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

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

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

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

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

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

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

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

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

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

    MIL OSI Economics

  • MIL-OSI Economics: Results of Underwriting Auctions Conducted on October 25, 2024

    Source: Reserve Bank of India

    In the underwriting auctions conducted on October 25, 2024, for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:

    (₹ crore)
    Nomenclature of the Security Notified Amount Minimum Underwriting Commitment (MUC) Amount Additional Competitive Underwriting Amount Accepted Total Amount underwritten ACU Commission Cut-off rate
    (paise per ₹100)
    6.79% GS 2034 22,000 11,004 10,996 22,000 0.05
    7.46% GS 2073 10,000 5,019 4,981 10,000 0.09
    Auction for the sale of securities will be held on October 25, 2024.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1368

    MIL OSI Economics

  • MIL-OSI New Zealand: Police increase visibility across Auckland transport hubs

    Source: New Zealand Police (National News)

    Police have increased visibility at transport hubs across Tāmaki Makaurau following the fatal Onehunga bus attack and will continue with this increased presence over the long weekend.

    Auckland City Acting District Commander Sunny Patel says it’s important the public knows that Police are continuing to take action.

    “It’s understandable the community are feeling shaken. We want to provide reassurance heading into the long weekend that we will have an ongoing presence around public transport.

    “Our beat teams will also maintain their presence in and around key public spaces.

    “Our city and transport system are important spaces for the public, and people should be free to use these areas without fear.

    “Police and partner agencies will be focused on ensuring these hubs are places where the public and commuters can be safe and feel safe.”

    Police continue to encourage the public to report incidents that may be unfolding so appropriate action can be taken.

    “If an incident is happening now, I urge people to report it to 111 as soon as they can.”

    Information can also be provided to Police by making an online report at 105.police.govt.nz using “Update Report” or by calling 105.

    ENDS

    Issued by Police Media Centre 

    MIL OSI New Zealand News

  • MIL-OSI Economics: TOYOTA GAZOO Racing to Exhibit Immersive Content at Super Taikyu Series 2024 Final Fuji

    Source: Toyota

    Headline: TOYOTA GAZOO Racing to Exhibit Immersive Content at Super Taikyu Series 2024 Final Fuji

    TOYOTA GAZOO Racing (TGR) announced today that it will exhibit Japan’s first outdoor-compatible mobile immersive dome tent in the event square at the ENEOS Super Taikyu Series 2024 Empowered by BRIDGESTONE Round7 (Round 7 Super Taikyu Final Fuji), to be held on Saturday, November 16 and Sunday, November 17, 2024. This initiative aims to communicate the appeal of motorsports and the Super Taikyu Series in a new way while conveying its fun and depth to as many people as possible, including children.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: FS concludes US visit

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan wrapped up his visit in New York yesterday by meeting representatives from several family offices and touring a technology accelerator and venture capital platform.

    In the morning, Mr Chan held a breakfast meeting with representatives from several family offices, introducing Hong Kong’s unique advantages as a global leading hub for asset and wealth management, as well as the latest developments in this field.

    He welcomed them to leverage Hong Kong’s efficient and diverse capital markets, robust family office service network and ecosystem, and global business connections for wealth succession and developing family philanthropies, while exploring more investment opportunities in the Mainland and Asia.

    The Financial Secretary then visited the technology accelerator and venture capital platform Newlab, where apart from touring the startups they nurture and support, he met their staff in charge.

    Noting that the platform is considering expanding its business overseas and establishing more locations, Mr Chan highlighted the Innovation & Technology Accelerator Pilot Scheme in the recently announced Policy Address.

    He said that with over 4,200 startups in Hong Kong, the city has a vibrant and active startup ecosystem, a full-chain fundraising market, and a listing system tailored for specialised tech companies.

    Furthermore, with ongoing deepening co-operation with the Guangdong-Hong Kong-Macao Greater Bay Area cities in innovation and technology, he welcomed the platform to set up a base in Hong Kong and explore collaboration opportunities.

    Mr Chan is expected to arrive back in Hong Kong tonight.

    MIL OSI Asia Pacific News

  • MIL-OSI Economics: RBI@90 Art Competition for Fine Art Students

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) conducted an Art Competition, as part of the commemoration of its 90th year, for fine art students in India. 71 undergraduate fine arts students from 71 colleges in the country participated in the competition.

    Eligible artworks focusing on themes associated with the Reserve Bank of India, received during the month of August and September 2024, were displayed and evaluated in an event organised by the Reserve Bank at its New Delhi Regional Office on October 22, 2024. Students and faculty members of participating colleges/ institutes from 25 states of India attended the event. The artworks, inspired by Indian art forms showcased the creative talents of undergraduate students at fine art institutes in the country.

    A panel of judges from the art world evaluated the artworks. 15 artworks out of the submissions received were awarded and felicitated.

    The event also included a panel discussion on evolution of Indian art, influence of social media on art, future of traditional painting forms with advent of digital tools and artificial intelligence, impact of globalisation, art fairs, biennales, etc.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1369

    MIL OSI Economics

  • MIL-OSI Video: President Cyril Ramaphosa concludes his working visit to the BRICS Summit in Russia

    Source: Republic of South Africa (video statements)

    Stay updated, South Africa! Subscribe to The Presidency’s Channel here: https://www.youtube.com/@PresidencyZA/?sub_confirmation=1.

    Checkout more: http://www.thepresidency.gov.za

    Get Social
    Facebook ► https://www.facebook.com/PresidencyZA
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    Twitter ► @PresidencyZA

    #ThePresidencyofSouthAfrica #PresidencyZA

    https://www.youtube.com/watch?v=wOYRFecG7LY

    MIL OSI Video

  • MIL-OSI Russia: NSU scientists have received the first pilot batch of synthetic fuel from non-recyclable plastic

    Translation. Region: Russian Federation –

    Source: Novosibirsk State University – Novosibirsk State University –

    A catalytic unit for processing liquid products of polymer waste pyrolysis into synthetic fuel has been installed in the laboratory of the Department of Physical Chemistry of the Faculty of Natural Sciences of Novosibirsk State University. During the first three weeks of its operation, scientists obtained the first three liters of kerosene. At present, optimal operating modes of the capillary reactor are being determined, important catalyst regeneration cycles are being worked out, optimal parameters of the catalytic process are being selected, a catalyst is being selected, the most important performance indicators of the unit are being monitored, and the resulting product is being analyzed.

    The equipment was provided to NSU scientists by specialists from Onium Plus LLC (Yaroslavl). They were also involved in the installation of the equipment. Publication about the joint work of scientists from the Department of Physical Chemistry Faculty of Natural Sciences of NSU, the Boreskov Institute of Catalysis of the Siberian Branch of the Russian Academy of Sciences and representatives of this company to create a technology for converting non-recyclable plastic into synthetic fuel was published on the NSU website in December 2023. You can read it by link.

    The jointly developed technology consists of several stages. First, non-recyclable plastic undergoes pyrolysis – thermal destruction without oxygen at temperatures from 400 to 600 ° C. The output is pyrolysis oil – a heterogeneous liquid mixture of hydrocarbons containing a large number of undesirable impurities, dark yellow in color with a strong unpleasant odor. Then the multicomponent mixture is divided into fractions based on boiling point. Pyrolysis oil and its fractions are not yet suitable for use as fuel – due to the high content of unsaturated hydrocarbons, this substance can damage internal combustion engines. It can be converted into usable fuel through the use of catalytic technology. Representatives of Onium Plus LLC asked NSU researchers to develop it, who conducted preliminary experiments with nickel-molybdenum catalysts on an aluminum oxide support. The first positive results were obtained using them in tubular reactors – a transparent, colorless liquid with a faint odor of kerosene was synthesized. However, before using it for internal combustion engines, it is necessary not only to develop a new composition and method of catalyst synthesis, but also to modify the hydrogenation plant, select the optimal parameters of the catalytic process, and work out all cycles of automatic catalyst regeneration. For this purpose, the company’s specialists created two more catalytic installations – a pilot and a laboratory. The pilot one is working at the enterprise, and the laboratory one was made available to NSU researchers at the end of May. Parallel trials of the catalytic process are currently underway. NSU scientists select catalyst compositions, process conditions, temperature conditions, pressure, flow rates, and company specialists conduct life tests on an enlarged scale. An important condition of the experiment is that both installations must operate around the clock in a continuous mode.

    — The liquid product of plastic waste pyrolysis, which mainly consists of medium and heavy fractions with a large amount of unsaturated hydrocarbons, is fed from the feedstock tank using a high-pressure liquid pump to the mixer, where it is mixed with hydrogen under a pressure of 40 atmospheres. Then the mixture is fed in portions to the reactor, inside which a catalytic reaction occurs under conditions of high pressure and high temperature. Depending on the composition of the catalyst, hydrogenation, hydrocracking or hydroisomerization occurs. At the moment, this is hydrocracking at a pressure of 40 atmospheres and a temperature of 360 – 400 degrees Celsius, which is considered the norm for this process. These parameters are selected depending on what product needs to be obtained. In this case, the task is to obtain kerosene, — said Anton Lysikov, a researcher at the Department of Physical Chemistry of the Faculty of Natural Sciences of Novosibirsk State University, about the device of the installation.

    From the reactor, the product mixture enters the separator via a coil, where it cools down and separates into gas and liquid. The gas goes up, and the liquid gradually condenses in the accumulator. When the liquid weight reaches a specified value, it is discharged using the lock method: the first valve of the discharge line is turned on, and the liquid product is poured into the buffer tank. After the weight decrease is recorded, this valve closes and the second one opens, the liquid enters the receiver, and the product yield is assessed in accordance with the scale readings. Then the second valve is also closed until the next sampling. This design with automatic overflow allows to avoid a significant pressure drop when removing products from the process and to accumulate them stably during long-term experiments.

    — Our first attempts to process the liquid product of polymer waste pyrolysis resulted in obtaining a substance similar to what we are synthesizing now, only its freezing temperature was about zero degrees Celsius. This figure is much higher than what we intended to achieve. Therefore, we had to select a catalyst composition that would initiate a cracking and isomerization reaction, leading to a strong decrease in the freezing temperature. And now it is already -20 degrees. In three weeks of continuous round-the-clock work, we extracted about 3 liters of high-quality non-freezing kerosene from the pyrolysis product, which can be used as a fuel additive. The production rate is 6 ml per hour, — said Ekaterina Parkhomchuk, Associate Professor of the Department of Physical Chemistry of the NSU Natural Sciences Department.

    The finished product undergoes a thorough analysis: researchers study its fractional, group, component and elemental composition. They measure the sulfur and chlorine indicators at the outlet, flash point and turbidity. These parameters are very important for the further use of the final product, they determine its practical purpose.

    The first experiments were suggested by NSU scientists to start with widespread and well-known systems: nickel-molybdenum catalysts on an aluminum oxide carrier. They managed to obtain the first positive results.

    — We have gained the first experience — we have determined the activity of this catalyst, observed the process, acquired the skill of working with unusual raw materials, and identified the main problem. It is that pyrolysis oil is very different from traditional oil. Most often, such raw materials contain long-chain hydrocarbons and are characterized by a high content of C17 hydrocarbons, which have high freezing and boiling points. They accumulate in the cold zones of the reactor, forming “wax” plugs, due to which pressure drops can occur. Having encountered this problem, we began to select hydrocracking and hydroisomerization catalysts to break long-chain hydrocarbons into smaller molecules, making them branched. This allowed us to solve the problem of reactor waxing, as well as reduce the freezing and turbidity temperatures of the product, and at the output we received higher quality and flammable hydrocarbons, — explained Ekaterina Vorobyova, a postgraduate student of the Department of Physical Chemistry of the Faculty of Natural Sciences of NSU.

    First, a hydrogenation catalyst was obtained, then a hydroisomerization and hydrocracking catalyst, on which the first positive results were obtained: the cloud point began to decrease significantly, hydrocarbons began to burn differently. Now scientists are working on a catalyst with increased activity in hydrocracking and hydroisomerization, while obtaining a product with a cloud point below -20. It is important to note that this is its stable operation for several hundred hours. But the most important thing is that products were obtained that flash and burn as needed, hydrogenation and hydrocracking processes are underway, the products contain a large number of isomers, which is required to obtain synthetic motor fuels and oils.

    The installation with the new catalyst has been operating continuously for almost four weeks, and the catalyst activity has not been lost, no pressure drops have been observed, and no coking has occurred.

    — The main thing is that while developing this technology, we continue to improve our skills in working with this special raw material, which is so different from oil. For us, this is a very interesting task, since plastic waste is really growing. And not all of it is recyclable. Burying it in landfills is not a solution to the problem. For me, from a scientific point of view, it is interesting to identify the features of processing this raw material, as well as the requirements for the properties of the catalyst, which will allow us to stably and for a long time obtain high-quality motor fuels and oils from non-recyclable waste into valuable fuel, — said Ekaterina Vorobyova.

    Scientists assess the results of their work as encouraging, and the production of fuel from pyrolysis products as profitable, because only 5% of the original substance turns into gas, the rest of the mass turns into high-quality synthetic fuel. At the moment, this technology can be considered almost ready for implementation, which will be determined only by the speed of construction of catalytic units. The main difference between production samples and a laboratory unit is the number of reactors. In a laboratory unit, there is one reactor, and in industrial ones, it is theoretically possible to install hundreds and even thousands. Then the productivity will increase many times over.

    — Each type of catalyst or new parameters, before being implemented, requires thousands of running hours. The more parallel tests, the faster the process optimization and confirmation of the success of certain solutions. By the end of the year, we will put into operation two additional laboratory units for hydrogenation, increasing the number of simultaneously running processes. But the most interesting task, in our area of responsibility, which we are currently implementing, is the creation of a pilot unit with dozens of micro reactors simultaneously. This module will allow the process to be carried out with a capacity of liters per hour. All systems will be integrated in it, as in a “large” plant. It is equipped with its own hydrogen source, its own hydrogen purification and recompression unit and an automatic regeneration system. In addition to confirming the readiness of the catalytic system for industrial use, this device will also confirm the economic aspects of fuel production. The cost of the process will be very accurately determined, which is necessary for further industrial implementation, — explained Alexander Klimov, a representative of the company OOO Onium Plus.

    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 Australia: Next round of funding opens to boost mobile network resilience

    Source: Australian Ministers 1

    The Albanese Government is continuing to strengthen the resilience of mobile network communications in regional, remote and peri-urban Australia to keep communities safer and better connected during, and after, natural disasters.
     
    Up to $20 million (GST exclusive) is available through Round 3 of the Albanese Government’s Mobile Network Hardening Program (MNHP), with applications open and guidelines available at www.grants.gov.au
     
    The MNHP co-funds projects with mobile carriers and tower companies to deliver upgrades that reduce the risk of outages and improve restoration times, for example, portable generators, back-up power equipment and physical mobile tower hardening.
     
    Round 3 of the MNHP is open to projects located natural disaster-prone areas in regional and remote Australia and, for the first time, in the peri-urban fringe of 19 capital and major regional cities.
     
    Applications for Round 3 of MNHP close 5 PM AEDT Friday, 20 December 2024.
     
    An online Project Noticeboard allows communities to provide advice to the telco industry on potential projects or locations.

    The Noticeboard is available on the Department’s website until Friday 13 December 2024, at: https://www.infrastructure.gov.au/media-communications-arts/phone/mobile-network-hardening-program/mobile-network-hardening-program-round-3-project-noticeboard
     
    In total, the Albanese Government is investing $2.2 billion in regional communications – the most significant investment in this critical area since the inception of the National Broadband Network.
     
    Including up to $100 million towards improving the resilience of networks against natural disasters through the Better Connectivity Plan for Regional and Rural Australia.
     
    Rounds 1 and 2 of the MNHP are funding 1,386 projects nationwide, with 896 already complete.
     
    For more information on the Government’s Better Connectivity Plan, visit: www.infrastructure.gov.au/bcp.
     
    For more information on the Mobile Network Hardening Program, visit: www.infrastructure.gov.au/mnhp
     
    Quotes attributable to Minister for Communications, the Hon Michelle Rowland MP:
     
    “The Albanese Government understands how vital telecommunication services are for keeping communities safe, connected and informed during disruptions, emergencies and natural disasters – in some circumstances, it can mean the difference between life and death.
     
    “Through the Better Connectivity Plan for Regional and Rural Australia, we are investing up to $100 million towards improving the resilience of networks against natural disasters.

    “This includes $20 million through the latest round of the Mobile Network Hardening Program to boost the resilience of communications networks outside major cities.
     
    “For the first time, this program is available for communities on the urban fringes of our major cities, which are prone to natural disasters.
     
    “I encourage local communities to speak with their Councillors, State, Territory and Federal representatives to identify potential projects or locations that could benefit from improved communications resilience.”

    MIL OSI News

  • MIL-OSI Australia: Adelaide family the key to new disease breakthrough

    Source: University of South Australia

    25 October 2024

    L-R: Jiarna Zerella (PhD student, SA Pathology), Kristijan Ramsea (family member whose samples were used to make to make this discovery), Prof. Hamish Scott and Assoc. Prof. Chris Hahn.

    An Adelaide family has played a crucial role in the discovery of a new bone marrow disease called ERG Deficiency Syndrome, leading to the introduction of a new clinical diagnostic test.

    Centre for Cancer Biology (CCB) researchers at SA Pathology and the University of South Australia made the breakthrough after investigating the family’s battle with a complex set of blood disorders.

    The mother who suffered from several blood disorders in early adulthood, was subsequently diagnosed with acute myeloid leukaemia. A pattern of similar blood disorders was also recognised in her children, prompting genetic researchers to investigate.

    Extensive genetic testing by genome sequencing was performed on each affected family member ruling out all known genes associated with bone marrow failure and blood cancer.

    The family was then recruited into the Australian Familial Haematological Conditions Study (AFHCS) based in Adelaide, and their genome was re-examined by the researchers to detail their genetic information.

    It was here that researchers made a surprising discovery, identifying a highly suspicious mutation in the ERG gene, not previously known to cause symptoms linked to familial bone marrow failures and blood cancers.

    Adding to the complexity, the mutation was discovered by looking at hair samples as it was hidden by a mechanism called somatic gene rescue, masking the variant in each of the family members’ blood samples.

    After calling national and international colleagues and entering the mutation into an international matchmaking database (used for rare diseases to bring together researchers, who have identified patients with similar clinical symptoms and mutations in the same gene), the genetic researchers identified a cohort of patients from around the world with ERG mutations linked to bone marrow failure and blood cancer.

    The team then designed state-of-the-art bespoke tests to demonstrate that the mutations severely disrupt the role of ERG in the normal development of blood cells in a way that may predispose them to bone marrow failure and blood cancer.

    As a result, ERG has now been added to routine testing as a clinical screening test for bone marrow failure and blood cancer at SA Pathology and is being implemented worldwide.

    The discovery also opens the door for predictive testing, offering reproductive choices to families at risk, and screening of unaffected family members carrying the mutation for early detection of the disease.

    For those diagnosed with the disease, bone marrow transplantation offers a potential cure so the breakthrough also means that clinicians can identify unaffected family members as potential bone marrow donors.

    Quotes attributable to Lead Researcher and SA Pathology Head of Genetics and Molecular Pathology, Professor Hamish Scott

    This Adelaide family has helped us pave the way for the identification of ERG Deficiency Syndrome, marking an exciting new chapter in our understanding of blood conditions.

    By being able to identify this mutated gene, we can diagnose patients and predict the likelihood of bone marrow failure and blood cancer occurring in the future, which will undoubtedly help countless families across the world.

    Quotes attributable to Researcher and Section Head of the Molecular Pathology Research Laboratory, Associate Professor Chris Hahn

    Thanks to this one Adelaide family, we have uncovered a new pathway in understanding blood conditions, enabling doctors to better monitor and counsel individuals at risk, which will help to improve blood cancer outcomes by early detection and optimal therapy.

    Hereditary cases of bone marrow failure and blood cancers are devastating for families, so identifying genetic mutations in those affected by these diseases has immediate implications for family members.

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

     

     

    Other articles you may be interested in

    MIL OSI News

  • MIL-OSI Australia: CFA announced as EQUITANA’s 2024 official community partner

    Source: Victoria Country Fire Authority

    The four-day event from 14 to 17 November 2024 at Melbourne Showgrounds includes a mix of competition, education, entertainment and exhibition.

    It is regarded as the largest equine showcase in the Southern Hemisphere.

    As EQUITANA’s official community Partner, CFA will focus on helping horse owners prepare and plan for the bushfire season.

    Every Victorian who lives near dense forest, bush, grassland or the coast needs to prepare their property for bushfire. This includes considering what to do with animals.

    CFA members from Wingeel, Macclesfield and Arthurs Creek brigades, a fire truck and a mobile education unit will attend the event to engage with visitors about property maintenance, making the decision to relocate your horses, preparing your horse for survival and actions to take after a fire.

    This information is also relevant to those running agistment properties, trail ride centres and riding schools.

    CFA thanks the organisers of EQUITANA Melbourne 2024 for inviting us be part of this event.

    Horse lovers interested in attending the event can find more on the EQUITANA website.

    Submitted by Georgina Hill

    MIL OSI News

  • MIL-OSI Economics: Result of the 6-day Variable Rate Repo (VRR) auction held on October 25, 2024

    Source: Reserve Bank of India

    Tenor 6-day
    Notified Amount (in ₹ crore) 25,000
    Total amount of bids received (in ₹ crore) 48,700
    Amount allotted (in ₹ crore) 25,005
    Cut off Rate (%) 6.55
    Weighted Average Rate (%) 6.57
    Partial Allotment Percentage of bids received at cut off rate (%) 17.12

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1370

    MIL OSI Economics

  • MIL-OSI Asia-Pac: Glass cladding breaks at Citywalk

    Source: Hong Kong Information Services

    The Buildings Department said that it is following up on an incident of broken glass cladding at the external wall of Citywalk in Tsuen Wan tonight and added that no obvious danger to the overall building structure was noted.

    Upon notification of the incident by Police at about 7.30pm, the department immediately deployed staff to carry out a site inspection and found that a piece of glass cladding, measuring about 3m by 2m, at the external wall of the building’s fifth floor facing Wo Tik Street was broken. 

    The affected pavement is temporarily fenced off and the department will continue to follow up on the matter.

    As instructed by the department, the property management company (PMC) of the building has arranged a contractor to remove the remaining loose pieces of glass tonight.

    The PMC is also tasked with arranging to have the other glass cladding inspected and carrying out necessary repairs as soon as possible to ensure public safety.

    The department will issue an investigation order to require the owner to appoint an authorised person to conduct the investigation and submit an investigation report together with a remedial proposal.

    It will also maintain contact with the PMC to monitor the progress of the investigation and repair works.

    The department pointed out that it has specific requirements on the quality and construction of glass cladding. For example, the testing of materials and procedures before installation should comply with the relevant statutory requirements. 

    It emphasised that it is the owners’ responsibility to ensure the safety of their buildings, adding that timely repair and maintenance of private buildings is the owners’ basic responsibility.

    Owners may be liable to criminal prosecution and civil proceedings if the building dilapidation causes damage to property or injury to persons, the department said.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: University direct admissions open

    Source: Hong Kong Information Services

    The Education Bureau today announced that applications will open for the fourth cohort of the School Nominations Direct Admission Scheme to provide an additional pathway to university for students with exceptional talent.

    The bureau noted that the scheme recognises the outstanding talent of students in specific disciplines that may not be fully assessed by the Hong Kong Diploma of Secondary Education (HKDSE) Examination.

    The scheme is open for application by local Secondary 6 students who will be taking the 2025 HKDSE and commencing their undergraduate studies in September 2025.

    Its nomination period will run from October 25 to December 4.

    Each local secondary school can nominate two students with exceptional talent and interests in specific disciplines or areas and each nominee can apply for admission to one of the around 300 designated University Grants Committee (UGC)-funded undergraduate programme participating in the scheme.

    The eight UGC-funded universities have set admission criteria that are not based on HKDSE Examination results for individual programmes.

    Participating universities will arrange interviews for all students nominated and make firm offers to successful students prior to the release of the 2025 HKDSE Examination results.

    Starting from the 2025-26 academic year, the Home & Youth Affairs Bureau will introduce a new scholarship scheme for successful admittees with remarkable achievements in arts, sports or community service.

    Each awardee, who will not be subject to means testing, will be granted a scholarship of $10,000 per year throughout their four-year tuition period.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Quality Assurance Council publishes report on quality audit of City University of Hong Kong

    Source: Hong Kong Government special administrative region

    Quality Assurance Council publishes report on quality audit of City University of Hong Kong
    Quality Assurance Council publishes report on quality audit of City University of Hong Kong
    ******************************************************************************************

    The following is issued on behalf of the University Grants Committee:      The Quality Assurance Council (QAC) under the University Grants Committee (UGC) today (October 25) published the report on the quality audit of City University of Hong Kong (CityU) in the third audit cycle.      CityU was the fifth university audited in the third audit cycle, which places an emphasis on how individual universities review and enhance their framework on academic standards and academic quality, academic programme development, teaching and learning, student learning assessment and support for students, as well as the collection, analysis and usage of data to inform such quality assurance processes.      The audit report presents the findings of the audit panel appointed by the QAC based on the self-evaluation report prepared by CityU and a series of audit meetings with staff, students and external stakeholders (such as employers) of the university held between February and March 2024. The audit report was endorsed by the UGC after being considered by the QAC.      The report identified a number of features of good practice and recommended actions with a view to encouraging CityU and the higher education sector as a whole to strive for continuous enhancement to their quality assurance regimes. The full audit report with the formal response from CityU is available on the QAC website (www.ugc.edu.hk/eng/qac/about/term/publications/report.html) for public access.      The QAC quality audits ascertain whether the arrangements for quality assurance adopted by universities are fit for purpose and comparable with international best practices. The QAC third audit cycle covers all programmes at the levels of sub-degree, first degree and above, however funded, leading to a qualification wholly or partly awarded by the UGC-funded universities.      The QAC expressed gratitude to CityU and all stakeholders for their support for the quality audit.

     
    Ends/Friday, October 25, 2024Issued at HKT 14:00

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Australia: 234-2024: List of unregistered treatment providers: Treatment provider unacceptable – Ecolab (Texas) (AEI: US4026SB)

    Source: Australia Government Statements – Agriculture

    25 October 2024

    Who does this notice affect?

    Stakeholders in the import and shipping industries—including vessel masters, freight forwarders, offshore treatment providers, Biosecurity Industry Participants, importers, customs brokers, principal agents and master consolidators.

    What has changed?

    Following the identification of critical non-compliance, the department has listed Ecolab (Texas) (AEI: US4026SB) as unacceptable on …

    MIL OSI News

  • MIL-OSI Security: Guilty plea following Enfield murder investigation

    Source: United Kingdom London Metropolitan Police

    A man has appeared in court where he pleaded guilty to the murder of Bledi Petraj, who died following a fight on an Enfield street.

    Kozma Papa, 22 (23.09.02) of Fairview Road, Cheltenham, appeared at the Old Bailey on Thursday, 24 October where he pleaded guilty to murder.

    He was remanded in custody to appear for sentencing at the same court on Friday, 6 December.

    Police and London Ambulance Service (LAS) were called at 14:04hrs on Sunday, 4 February to reports of a stabbing at Queen Elizabeth’s Drive in Enfield.

    Officers and LAS attended. At the scene 37-year-old Bledi Petraj, who was from Westcliff-on-Sea in Essex, was found with knife injuries.

    Despite the efforts of medics at the scene and in hospital, he sadly died that afternoon. His family were notified and were supported by specialist officers.

    Papa was arrested by Met officers in a car that was stopped in Hertfordshire that same day. He was charged the following day with murder.

    Detective Sergeant Matthew Goode said: “We know that on the day of the murder the victim pulled over in his car on Queen Elizabeth’s Drive. Papa pulled in behind him and both men got out of their cars and immediately started to fight. A fight that ended in a senseless loss of life.

    “It has never been established why they fought, but whatever the reason for the confrontation, I know it wouldn’t justify the loss felt by Bledi’s family and the years that Papa will now spend in prison.

    “I am pleased that this guilty plea will spare Bledi’s family the experience of a criminal trial – my thoughts are with them today.”

    A 30-year-old man, who was also arrested as part of the investigation, was released without further action.

    MIL Security OSI

  • MIL-OSI Australia: 235-2024: Australian Fumigation Accreditation Scheme: Reinstatement of treatment provider – CV. Majesty (AEI: ID0102MB).

    Source: Australia Government Statements – Agriculture

    25 October 2024

    Who does this notice affect?

    Stakeholders in the import and shipping industries—including vessel masters, freight forwarders, offshore treatment providers, Biosecurity Industry Participants, importers, customs brokers, principal agents and master consolidators.

    What has changed?

    CV. Majesty (AEI: ID0102MB) has been reinstated under the…

    MIL OSI News

  • MIL-OSI Economics: Revocation of Certificate of Authorisation of UAE Exchange Centre LLC

    Source: Reserve Bank of India

    The Reserve Bank of India, in exercise of the powers conferred on it under Section 8 of the Payment and Settlement Systems Act, 2007, has revoked the Certificate of Authorisation (CoA) of the below mentioned Payment System Operator (PSO):

    Sr.
    No.
    Entity’s Name Registered Office Address CoA No. & Date Payment System Authorised Date of Revocation Reason for Revocation
    1. UAE Exchange Centre LLC (UAEEC) UAE Exchange Centre LLC, P.O No. 13304, Building of Nassar Bin Abdul Latiff Naif Street Deira, Dubai, U A E No. 16/2009 dated
    September 30, 2009
    Cross border in-bound money transfer operator (customer to customer) as ‘Overseas Principal’ under the Master Direction on Money Transfer Service Scheme (MTSS Master Direction) October 10, 2024 Non – compliance with regulatory requirements

    Following the revocation of CoA, UAEEC cannot transact the business of cross border in-bound money transfer as ‘Overseas Principal’ under Master Direction on Money Transfer Service Scheme.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1371

    MIL OSI Economics

  • MIL-OSI China: Woman sentenced to death for trafficking 17 children

    Source: China State Council Information Office 2

    A woman was sentenced to death for abducting and trafficking 17 children, according to a retrial conducted by a court in southwest China’s Guizhou Province on Friday.
    In September 2023, the Guiyang Intermediate People’s Court sentenced Yu Huaying to death after finding her guilty of abducting and trafficking 11 children from Guizhou and Chongqing to the city of Handan in Hebei Province between 1993 and 1996. Yu and her accomplice, a man who has since died, sold the children for profit. Yu immediately submitted an appeal against the ruling.
    In November 2023, the Guizhou Provincial Higher People’s Court held a second-instance trial and, in January 2024, ordered a retrial of the case after the police discovered that Yu was implicated in more child trafficking cases.
    The number of children involved in the high-profile trafficking case has since risen from 11 to 17. The children came from 12 families, five of them losing two children at the same time, according to the court. Some children were even abandoned midway.
    Yu was also deprived of her political rights for life and all of her personal property will be confiscated.

    MIL OSI China News

  • MIL-OSI New Zealand: Heading away? Rest up before you hit the road

    Source: New Zealand Police (District News)

    Motorists heading between Taupo and Hawke’s Bay on SH5 were met with free coffee and snacks today, as RoadSafe Hawke’s Bay and Eastern District Police carried out a fatigue checkpoint.

    The checkpoint was aimed at educating drivers around the risks of driving fatigued and the importance of stopping to take breaks on long journeys.

    More than 100 motorists pulled off the road to enjoy a free cuppa and a muffin, and to chat with staff.

    Everyone who was stopped at the checkpoint was also breath tested. Over 1000 tests were completed, all demonstrating great compliance.

    Eastern District impairment team Acting Sergeant Dan Snee says it was pleasing to see most motorists were also wearing appropriate restraints.

    “As we head into the long weekend, our focus continues to be on the four key causes of death and injury on our roads.

    “Those are travelling at excess speed; not wearing your seatbelt; driving impaired, either by drugs or alcohol or fatigue; and driving distracted, for example by your cellphone.

    “Our impairment team and road policing staff will be out in force over the weekend, and throughout the upcoming summer, so expect to be stopped anywhere at any time. 

    “Our goal is to make sure you get where you’re going for the long weekend safely.”

    ENDS 

    Issued by Police Media Centre 

    MIL OSI New Zealand News

  • MIL-OSI Europe: 2024–2033 scenarios for the education system – Student numbers expected to rise sharply in post-compulsory education by 2033

    Source: Switzerland – Department of Home Affairs

    Changing demographics will lead to sharply increasing numbers in all post-compulsory education and training in the next ten years. According to the Federal Statistical Office’s (FSO) reference scenario, numbers will rise by 15% for the upper secondary level (from 390 000 to 450 000 students) and by 18% for all universities and institutes of technology, universities of applied sciences and of teacher education (from 276 000 to 326 000 students). For both the upper secondary level and the higher education institutions, considerable increases are expected in education and training related to IT, health and social work.

    MIL OSI Europe News

  • MIL-OSI China: Art Basel CEO depicts Chinese art as ‘fundamentally popular’

    Source: China State Council Information Office 3

    An art work by Colombian artist Fernando Botero is on show during the second Art Basel in Hong Kong, south China, May 16, 2014. (Xinhua/Li Peng)

    Noah Horowitz, CEO of Art Basel, said that he sees continued spending on art and antiques by high-net-worth individuals (HNWIs) despite a challenging market, bolstered by a strong appetite from Chinese buyers and an increased expenditure on emerging and female artists.

    “Chinese art remains fundamentally popular,” said the CEO of the world’s leading art fair in a virtual interview with Xinhua, discussing “The Art Basel and UBS Survey of Global Collecting 2024,” a report published on Thursday.

    “It’s such a large market with so much happening, in Beijing, Shanghai, Guangzhou and elsewhere that I think that there’s continued interest. We see that most visibly in our Hong Kong fair and we can expect that to continue,” said Horowitz.

    The report was authored by cultural economist Dr. Clare McAndrew of Arts Economics and conducted in collaboration with Swiss banking giant UBS.

    The survey examines the spending, event attendance, motivations for collecting of HNWIs and their interactions with artists, galleries and institutions. It reveals insights into the behaviors of HNWIs across 14 markets worldwide in 2023 and the first half of 2024.

    Horowitz described the 2024 survey as the largest of its kind to date, which gathered responses from over 3,660 HNWIs in Brazil, France, Germany, Hong Kong, Indonesia, Italy, Japan, the Chinese mainland, Mexico, Singapore, Switzerland, Taiwan, Britain and the United States.

    Visitors look at exhibits during Art Basel Hong Kong 2018 at Hong Kong Convention and Exhibition Centre in south China’s Hong Kong, March 27, 2018. (Xinhua/Li Peng)

    “China is a large, diversified economy with many active artists and galleries, and it contributes a huge amount to the global art trade,” he said.

    “The broader Asian story is really compelling. We’re seeing a lot of clients from throughout the Asian region, attending our shows, leaning in and remaining very active. It’s a super important market for us, and we can expect to see that vibrancy continue,” he added.

    HNWIs from the Chinese mainland had the highest expenditure on art and antiques in 2023, as well as in the first half of 2024 with a median of 97,000 U.S. dollars, more than double that of any other region surveyed, the report showed, indicating that the strong return to spending has been sustained despite worries of a slowdown in the market, Horowitz said.

    Horowitz also underscored a significant appetite to buy living artists’ work and increased expenditure on emerging as well as female artists.

    “I think it’s a reminder that at the highest level of the wealth spectrum, there’s still considerable spending on art and luxury goods,” he told Xinhua.

    Founded in 1970 by gallerists from Basel, Switzerland, Art Basel today stages the world’s premier art shows for modern and contemporary art. It has four locations: Basel, Miami Beach, Hong Kong and Paris.

    MIL OSI China News

  • MIL-OSI China: China conducts 700-bln-yuan MLF to inject liquidity

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

    BEIJING, Oct. 25 — China’s central bank on Friday conducted a 700-billion-yuan (about 98.5 billion U.S. dollars) medium-term lending facility (MLF) operation to maintain reasonable and ample liquidity in the banking system.

    The MLF operation has a one-year maturity with an interest rate of 2 percent, unchanged from the rate of the previous operation conducted last month.

    After the operation, the outstanding balance of the MLF stood at 6.789 trillion yuan.

    MIL OSI China News

  • MIL-OSI Asia-Pac: Bazaar carnival opens in Sha Tin

    Source: Hong Kong Information Services

    Chief Secretary Chan Kwok-ki today officiated at the opening ceremony of the Bazaar Carnival in Celebration of the 75th Anniversary of the Founding of the People’s Republic of China at Sha Tin Park.

    The Bazaar Carnival, which is being held from today until October 29, features 75 market stalls that offer specialty foods and hometown products from across the country. Citizens and tourists can also enjoy diverse cultural performances.

    Speaking at the ceremony, Mr Chan said the event is jointly organised by the Home Affairs Department and 28 provincial-level clansmen associations, showcasing each province’s unique food, culture and customs.

    Additionally, he noted that the clansmen associations have been playing an important role in Hong Kong’s development, facilitating exchanges and co-operation between Hong Kong and the motherland in various areas and deepening the friendship between the people of both places.

    Mr Chan said he hopes that the clansmen associations will continue to make good use of their extensive connections to promote exchanges and collaboration between Hong Kong and Mainland provinces.

    He also expressed that he looks forward to the associations advancing their work with the Hong Kong Special Administrative Region Government to build Hong Kong into a place for top talent, enabling the city to play its unique role as a super connector and super value-adder, as well as creating opportunities for the country’s opening up to the world and realising high-quality development.

    MIL OSI Asia Pacific News

  • MIL-OSI Economics: Limited growth in Danes’ housing debt

    Source: Danmarks Nationalbank

    Increases in the second and third quarters pull the year towards zero

    The growth in Danes’ housing debt has generally been slowing since 2022, when interest rates began to rise sharply. In addition to putting a natural dampener on loan demand when it becomes more expensive to borrow, the rising interest rates have also given many borrowers the opportunity to pay off their fixed-rate mortgages at a low rate and thereby reduce their residual debt. The repayment of their existing loans and taking on of new smaller loans have therefore overall contributed negatively to lending growth. However, rising interest rates also pull in the opposite direction, as an increase in interest rates typically means that the interest payments make up a larger part of the homeowner’s payment on their loan. This means that instalment payments become smaller. As a result, the debt is not reduced at the same rate as if interest rates were lower.

    After a period of fairly stable interest rates for the majority of the first half of 2024, lending rates fell in the third quarter, which was also marked by Danmarks Nationalbank’s two interest rate cuts. Homeowners increased their housing debt by kr. 8.8 billion in the quarter. Compounded with the second quarter’s modest lending growth, this only just offsets the development in the first quarter of the year, where debt was reduced by almost kr. 11 billion. Despite the so far very limited total lending growth in 2024, there may be a prospect of the year ending in the positive. About a quarter of the banks and mortgage credit institutions that participate in Danmarks Nationalbank’s lending survey expect that the demand for loans will increase slightly in the fourth quarter.

    Greater interest in F5 loans

    The recent interest rate developments have also had an impact on Danes’ preferences for the length of the loan’s interest rate fixation period when they choose a new mortgage loan with a variable interest rate. In the third quarter, homeowners have increasingly taken out F5 loans, where the average interest rate incl. contributions on loans that were taken out in September was around 1.5 percentage points lower than on both short-term and fixed-rate loans. The F5 loan has thus gone from making up approximately 20 percent of all new mortgage loans with variable interest rates in the first half of the year to a total of 31 percent in the third quarter.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: Auctions for Lunar New Year fair stalls in New Territories to start next Friday

    Source: Hong Kong Government special administrative region

         The Food and Environmental Hygiene Department (FEHD) today (October 25) reminded interested parties to join auctions that will start next Friday (November 1) for stalls at the 2025 Lunar New Year (LNY) fairs in the New Territories.     The nine fairs, with a total of 521 wet goods stalls, 230 dry goods stalls and seven fast food stalls, will be held at Sha Tsui Road Playground in Tsuen Wan, Tin Hau Temple Fung Shui Square in Tai Po, Tung Tau Industrial Area Playground in Yuen Long, Tin Hau Temple Plaza in Tuen Mun, Man Yee Playground in Sai Kung, Po Hong Park in Tseung Kwan O, Shek Wu Hui Playground in North District, Kwai Chung Sports Ground in Kwai Tsing and Yuen Wo Playground in Sha Tin.     The auctions for stalls of the LNY fairs in Tsuen Wan, Yuen Long and Kwai Tsing will be held at the Assembly Hall, 2/F, Lai Chi Kok Government Offices, 19 Lai Wan Road, Lai Chi Kok, Kowloon, on November 1, 5 and 11. The auction sessions are scheduled from 9am to 12.30pm (AM session) and 2pm until completion of the auction (PM session).     The auctions for stalls of the LNY fairs in Tai Po, Sai Kung and Tseung Kwan O, North District, and Sha Tin will be held at the above-mentioned venue on November 4, 7, 8 and 12. The auction session is scheduled from 9am or 9.30am until completion of the auction.     The auction for stalls of Tin Hau Temple Plaza LNY fair in Tuen Mun will be held at Tseng Choi Street Community Hall, 27 Tseng Choi Street, Tuen Mun, on November 6. The auction session is scheduled from 9.30am until completion of the auction.     Details of the auctions are as follows:Sha Tsui Road Playground (Tsuen Wan)——————————————–Auction date: November 1 (Friday)Number of stalls: 126AM session: Wet goods (Stall Nos. 1 to 64)PM session: Wet goods (Stall Nos. 65 to 96) and dry goodsOpening prices:Wet goods: $1,770Dry goods (regular size): $8,480Dry goods (large size): $12,720Tin Hau Temple Fung Shui Square (Tai Po)——————————————–Auction date: November 4 (Monday)Number of stalls: 61Stall types: Dry goods, wet goods and fast foodOpening prices:Dry goods: $1,450Wet goods: $2,270Fast food: $5,480Tung Tau Industrial Area Playground (Yuen Long)——————————————–Auction date: November 5 (Tuesday)Number of stalls: 158AM session: Dry goods and wet goods (Stall Nos. 57 to 72)PM session: Wet goods (Stall Nos. 77 to 156) and fast foodOpening prices:Dry goods (regular size): $1,350Dry goods (large size): $2,030Wet goods: $700Fast food: $5,480Tin Hau Temple Plaza (Tuen Mun)——————————————–Auction date: November 6 (Wednesday)Number of stalls: 57Stall types: Wet goods, dry goods and fast foodOpening prices:Wet goods: $1,490Dry goods: $2,140Fast food: $2,740Man Yee Playground (Sai Kung)——————————————–Auction date: November 7 (Thursday)Number of stalls: 20Stall types: Dry goods and wet goodsOpening prices:Dry goods: $450Wet goods: $380Po Hong Park (Tseung Kwan O)——————————————–Auction date: November 7 (Thursday)Number of stalls: 90Stall types: Dry goods, wet goods and fast foodOpening prices:Dry goods (regular size): $1,540Dry goods (large size): $2,310Wet goods: $830Fast food: $4,570Shek Wu Hui Playground (North District)——————————————–Auction date: November 8 (Friday)Number of stalls: 73Stall types: Wet goods and dry goodsOpening prices:Wet goods: $710Dry goods (regular size): $1,540Dry goods (large size): $2,310Kwai Chung Sports Ground (Kwai Tsing)——————————————–Auction date: November 11 (Monday)Number of stalls: 98AM session: Wet goods (Stall Nos. 1 to 56)PM session: Wet goods (Stall Nos. 57 to 76) and dry goodsOpening prices:Wet goods: $490Dry goods (regular size): $2,250Dry goods (large size): $3,380Yuen Wo Playground (Sha Tin)——————————————–Auction date: November 12 (Tuesday)Number of stalls: 75Stall types: Dry goods and wet goodsOpening prices:Dry goods (regular size): $4,570Dry goods (large size): $6,860Wet goods: $3,580     Bidders for LNY fair stalls must be at least 18 years old and ordinarily reside in Hong Kong.     Anyone can bid for more than one stall. A bidder must pay the bid price and register in person with his or her own name as the licensee of the stall immediately after successfully bidding for a stall. The bidder is also required to sign at once a licence agreement with the FEHD, or he/she will forfeit the rights to operate the stall.     All fair sites will be made available to the licensees three days in advance of the fairs (from January 20 to 22, 2025) for the setting up of stalls. In the event of any unforeseeable incident that will cause reduction of the whole licence period (including the duration for setting up stalls and the business period of the fair), the Government has the right to postpone the commencement date and shorten the duration of the period. The bidding price (licence fee) paid will be refunded to the successful bidder on a pro-rata basis without interest.     Stall licensees must completely remove the stall structure and all paraphernalia, together with all refuse, debris and unsold commodities (whether damaged or otherwise), from the licensed area before 7am on January 29, 2025.     The FEHD reminded licensees that the stalls are solely for the purpose of selling and promoting the sale of the permitted commodities, and no other activities are allowed in the licensed area. If the FEHD considers that any activity conducted by the licensee to publicise, promote, display, show or sell any permitted commodities in the venue is unlawful, contrary to the interest of national security, immoral or incompatible with the object of the LNY fair, the FEHD is entitled to direct the licensee to stop conducting such activities, and the licensee must immediately comply with the direction.     Stall licensees should not destroy, damage or abandon any unsold commodities at or in the vicinity of the stall. They may surrender unsold flowers and plants left behind at the stall to the FEHD at no charge, cost or compensation whatsoever, before 7am on January 29, 2025.     According to the licence agreement, except inside designated stalls, licensees must not keep, store or use any compressed helium cylinder in the licensed area. Whereas licensees of the designated stalls may keep, store or use helium cylinders in the licensed area, the quantity of helium should be such that a licence is not required pursuant to the Dangerous Goods (Application and Exemption) Regulation 2012 (Cap. 295E), i.e. equivalent to 150 litres of helium. Sales of floating LED glowing balloons and aquarium fish by stall licensees are prohibited at the LNY fairs.     In addition, as stated in the licence agreement, the height of dry goods stalls must not exceed 3 metres from ground level. The height of wet goods stalls and fast food stalls must not exceed 4.5m from ground level. For wet goods stalls and fast food stalls with a height of more than 3m from ground level, the licensee must, at his own costs, provide the FEHD with the original certificate issued by an authorised person, a registered structural engineer, or a competent person under the Construction Sites (Safety) Regulations (Cap. 59I) to certify the structural safety of the structure in the licensed area before the fair is opened to the public. The licensee must also affix a copy of the aforesaid certificate on the structure of the stall.     Successful bidders shall comply with all the stipulations and provisions as set out in the licence agreement. Otherwise, the department is entitled to terminate the agreement and the licensee shall immediately vacate the stall.     Details of the 2025 LNY fairs, such as the public notice, the locations and layouts of the fair venues, commodities allowed for sale at the fair stalls, open auction arrangements and related rules, and a sample of the licence agreement, are available on the FEHD website (www.fehd.gov.hk). For enquiries, please call the FEHD hotline 2868 0000.

    MIL OSI Asia Pacific News