Category: Asia Pacific

  • MIL-OSI Asia-Pac: LCQ9: Burglary crimes

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Chan Yuet-ming and a written reply by the Secretary for Security, Mr Tang Ping-keung, in the Legislative Council today (February 19):Question:      Some members of the public have relayed that there has been an increase in the number of burglary crimes targeting low-density residential properties and shops in rural areas and suburbs, and the situation is even worse near Chinese New Year. In this connection, will the Government inform this Council: (1) of the numbers and detection rates of burglary crimes in each of the past five years, with a tabulated breakdown by the 18 districts in Hong Kong; the numbers of persons convicted of such crimes and, among them, the respective numbers of those who were minors and non-Hong Kong residents; (2) of the details of both the publicity activities on the prevention of burglary and joint operations against burglary crimes conducted by the Hong Kong Police Force in the whole year of 2024, as well as the effectiveness of such efforts; (3) of the details of the publicity activities conducted by the Fight Crime Committee and District Fight Crime Committees on the prevention of burglary in the whole year of 2024; and (4) whether the Government will review the existing mechanism on the prevention of burglary crimes, including whether it will consider installing smart lampposts fitted with cameras and subsidising village offices to install closed-circuit television monitoring systems or other appropriate alarm devices at major entrances and exits of villages so as to deter law-breakers? Reply: President,      The Police pay close attention to burglary cases which occurred in different locations and premises. In addition to actively taking measures against such crimes, the Police have been providing home security and anti-burglary advice to the public through various channels.      After consultation with the Hong Kong Police Force and the Home Affairs Department, our consolidated reply to the Member’s question is set out below: (1) The number of burglary cases and detection rates by Police Districts in the past five years (from 2020 to 2024) are set out in Annex I.      Regarding the number of persons convicted, the number of persons convicted of burglary-related offences (i.e. burglary under section 11 and aggravated burglary under section 12 of the Theft Ordinance (Cap. 210)) and, among them, the number of those who were minors or not holders of Hong Kong Identity Cards at the time of their first appearance, from 2020 to the third quarter of 2024, are set out in Annex II. (2) The Police adopt a multi-pronged approach to enhance the prevention and combating of burglary cases. In terms of enforcement, the Police have stepped up intelligence gathering and adopted an intelligence-led approach. They have increased high-profile patrols and stop-and-search operations in high-risk areas, such as village houses. Additionally, drones and helicopters from the Government Flying Service are deployed for nighttime aerial patrols and the pursuit of burglars. Roadblocks are also set up at different times and locations to stop and search suspicious vehicles or individuals, thereby enhancing deterrence.      On the publicity front, to enhance public awareness, the Police have launched a one-stop platform, SafeCity.HK, to provide the public with crime prevention tips, including information on burglary prevention. The Police also conduct publicity through various channels, such as social media platforms, press conferences, OffBeat 360 and Offbeat 120s, to share with the public ways to enhance home security and encourage them to report to the Police any suspicious persons or behavior. The Police also organise regular seminars for different sectors (for example, members of the property management and security sectors, the retail industry, and so on) and distribute anti-burglary pamphlets to the public in conjunction with District Councils, Rural Committees, Area Committees and property management companies to enhance anti-burglary awareness from different perspectives.      As a result of the Police’s vigorous efforts in combating burglary, the situation of burglary cases has improved significantly. In 2024, 1 220 burglary cases were reported, representing a decrease of 134 cases or 9.9 per cent compared to 2023, and the amount of loss was also reduced by 48 million Hong Kong Dollars or 25.5 per cent. The Police will continue with its related work, such as stepping up publicity during high-risk periods, such as the Chinese New Year and long holiday periods (e.g. using the Anti-crime Promotional Truck to visit different districts across the territory) to educate the public on the importance of and ways to prevent theft. (3) In response to burglary cases, the Fight Crime Committee (FCC) has adopted Beware of Burglary and Theft as the theme of one of its anti-crime publicity campaigns in 2024-25. The campaign will be launched through various media, including online advertisements and distribution of publicity materials such as door and window alarms, to remind members of the public to step up their home security to prevent burglary and theft.      As for the District Fight Crime Committees (DFCCs), various DFCCs organised different publicity campaigns under the theme of Beware of Burglary and Theft in 2024, such as carnivals, seminars and design competitions; distribution of promotional souvenirs, leaflets, banners, etc; and placing advertisements on the backs of minibus chairs and on the lightboxes of bus shelters. The aim is to integrate messages about preventing burglary and theft into various aspects of citizens’ daily lives at the district level. (4) To further enhance law and order and combat crime in a comprehensive manner, the Police Force has started installing closed-circuit televisions (CCTVs) in various districts (including rural areas) in Hong Kong since April 2024. The installation points are located at traditional lampposts, smart lampposts and government buildings. 615 sets of cameras have been installed by the end of last year, with the first phase of installation to be completed within 2025 with a total of 2 000 sets of cameras. As at the end of 2024, the system has assisted the Police in detecting 122 cases, including serious crimes such as murder, robbery and burglary, with 202 arrests. Of the 16 burglary cases detected with the assistance of CCTV, half of them (eight cases) were solved within one day, demonstrating that CCTV has not only made investigations more effective, but has also greatly enhanced the efficiency of crime detection.      Apart from assisting in crime detection, CCTV also has a deterrent effect on criminal behavior. In order to understand the relevant data, the Police have analysed the number of street crime cases for various types of crimes and found that they have dropped after the installation of CCTV. This shows that the scheme has brought about a very positive effect on crime prevention and elimination. The Police will progressively install CCTVs according to the crime rate or pedestrian flow of individual districts and locations (including rural areas), with a view to maximising the effectiveness of CCTVs in preventing and combating crime.      In addition, the Police, in conjunction with the DFCCs, have also encouraged and assisted in the installation of CCTV systems in old low-security buildings. Police Districts also distribute door and window alarms to rural residents, so as to enhance the security level of residential premises.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: NHRC, India organises an open house discussion on ‘Ensuring privacy and human rights in the digital era: A focus on corporate digital responsibility’

    Source: Government of India

    NHRC, India organises an open house discussion on ‘Ensuring privacy and human rights in the digital era: A focus on corporate digital responsibility’

    NHRC, India Chairperson, Justice Shri V. Ramasubramanian emphasises the need for safeguarding privacy as a human right in the digital world

    Cautions against the consequences of the significant decline in value systems

    NHRC, India Member, Justice (Dr) Bidyut Ranjan Sarangi raises concerns over the lack of digital literacy in the financial transactions

    Secretary General, Shri Bharat Lal says, protecting people’s privacy online is a collective responsibility of all stakeholders

    Among various key suggestions, simplifying the user agreements and policy frameworks to enhance consumer understanding and control over personal data highlighted

    Establishing clear accountability structures for data breaches, especially for research institutions and third-party data processors also emphasised

    Posted On: 19 FEB 2025 12:25PM by PIB Delhi

    The National Human Rights Commission (NHRC), India organised an open house discussion in hybrid mode on ‘Ensuring privacy and human rights in the digital era: A focus on corporate digital responsibility’ at its premises. It was chaired by the Chairperson, Justice Shri V Ramasubramanian in the presence of Member, Justice (Dr) Bidyut Ranjan Sarangi, Secretary General, Shri Bharat Lal, senior officers, domain experts, industry representatives among others.

    Addressing the participants, NHRC, India Chairperson, Justice Shri V. Ramasubramanian emphasised that safeguarding privacy as a human right in the digital world is necessary. The technological advancements should align with fundamental human rights and privacy protections. The responsibility must begin with the individual user. He highlighted that maintaining digital hygiene is crucial. He also pointed out the significant decline in value systems, cautioning that one must bear the consequences of this shift.

    He reaffirmed the Commission’s commitment to fostering inclusive discussions on digital rights and corporate accountability for developing a robust regulatory framework that balances innovation, security, and individual privacy.

    NHRC, India Member, Justice (Dr) Bidyut Ranjan Sarangi raised concerns regarding the lack of digital literacy which make many people dependent on others who may dupe them. He said that simplifying the processes of digital technology to maximise its safe usage by the common people in the country.

    Before this, NHRC, India Secretary General, Shri Bharat Lal while setting the agenda for discussion, gave the objective of this discussion on an important emerging issue i.e. ‘Ensuring privacy and human rights in the digital era: A focus on corporate digital responsibility’. He gave an overview of three sub-themes: ‘Establishing a proper regulatory framework and compliance mechanism’, ‘Building a culture of data privacy’, and ‘Identifying threats and best practices’. Citing data from 2023, he mentioned that over 20% of global data is generated in India whereas it has only about 3% of the storage capacity requiring a major role for Indian corporates. He said that while the Digital Personal Data Protection Act, 2023, and other regulations are in place, the challenges in the digital age are increasing. The draft rules have been notified and consultation process is going on. He also said that collection, storage and processing of personal data ‘brings’ huge responsibility of entities and they keep this data as a ‘trustee’. Any breach of trust in this trusteeship, is unacceptable. He stressed that protecting people’s privacy online is a collective responsibility requiring joint efforts from individuals, private sectors which plays a major role and the government and its agencies.

    The meeting extensively discussed the intensity of the problem that arises due to misuse of data and data breaches. Further, several key provisions of the Digital Personal Data Protection Act, 2023 were also discussed.

    Data Usage and Privacy Concerns

    The participants raised concerns over the extensive control exerted by global technology companies on user data, which complicates regulatory enforcement. Law enforcement agencies often face challenges in accessing critical data due to data storage in offshore centres. Additionally, the increasing reliance on digital platforms makes maintaining individual privacy more challenging.

    Cyber Law and Regulatory Framework

    Discussions also highlighted the gaps in the draft data protection rules, including the requirement to report data breaches within 72 hours and the accountability of research institutions handling personal data. The Government representatives highlighted ongoing consultations on data protection regulations, particularly the introduction of the Right to Nomination to enhance data privacy rights.

    Corporate Digital Responsibility

    The Corporate representatives shared best practices in data protection, digital well-being, and compliance-by-design strategies. However, they also highlighted operational challenges, particularly in navigating complex multi-layered digital operations. Companies transitioning from a low digital penetration environment to a structured data protection framework emphasised the need for regulatory flexibility to accommodate evolving business models and global compliance requirements such as the General Data Protection Regulation (GDPR) of the European Union. Referring to the Draft Digital Personal Data Protection Rules, 2025, the corporate stakeholders said that it should include explicit penal provisions for non-compliance and guidelines for obtaining verifiable parental consent for minors.

    Consumer Rights and Policy Simplification

    The participants noted that consumers have limited choices in consenting to data collection, as many business models mandate data sharing. The existing Do-Not-Disturb (DND) mechanism by TRAI was deemed ineffective.

    The participants included Shri Shailendra Trivedi, Chief General Manager-in-Charge, Department of Information Technology, Reserve Bank of India, Shri Deepak Goel, Group Coordinator (Cyber Law), Ministry of Electronics & Information Technology, Shri Ankur Rastogi, Principle Project Engineering, EGSTM, Centre For Railway Information Systems (CRIS), Shri Sanjoy Bhattacharjee, Chief Data Officer, HDFC Bank, Shri Ajay Gupta, Executive Director, ICICI Bank, Shri Soumendra Mattagajasingh, Group Chief Human Resources Officer, ICICI Bank, Shri Rajiv Kumar Gupta, President, PB Fintech, Policy Bazaar, Shri Sameer Bajaj, Head of Communication & Corporate Affairs, MakeMyTrip, Shri Ashish Aggarwal, Vice President and Head of Policy, NASSCOM, Dr Muktesh Chander, NHRC Special Monitor, Cyber Crime and Artificial Intelligence, Shri Tanveer Hasan A K, Executive Director, Centre for Internet & Society (CIS) in India and Shri Sameer Kochhar, President SKOCH Development Foundation, NHRC, India Registrar (Law), Joginder Singh, Director, Lt Col Virender Singh among others.

    Some of the important suggestions that emanated from the discussion included;

    • Simplify the user agreements and policy frameworks to enhance consumer understanding and control over personal data;
    • Establish clear accountability structures for data breaches, especially for research institutions and third-party data processors;
    • Strengthen user consent frameworks for greater transparency and informed decision-making;
    • Define the mandate and composition of the proposed Data Protection Board;
    • Develop a localised approach to data privacy regulations to support small businesses while addressing India-specific challenges;
    • Encourage companies to integrate privacy-by-design principles in digital operations;
    • Enhance consumer awareness through targeted digital privacy and cybersecurity literacy programmes;
    • Have explicit penal provisions for non-compliance;
    • Need for bilateral agreements to address cross-border security and data-sharing concerns;
    • Address the challenges arising from strict data localisation mandates; and
    • Clear guidelines for obtaining verifiable parental consent for minors.

    ***

    NSK

    (Release ID: 2104596) Visitor Counter : 69

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: LCQ22: Planning for former Choi Hung Road Market

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Yang Wing-kit and a written reply by the Secretary for Development, Ms Bernadette Linn, in the Legislative Council today (February 19):
     
    Question:

         It has been learnt that the Government closed the Choi Hung Road Market in Wong Tai Sin in 2022 to free up the site for other long-term development purposes, but so far the site has not been planned for any use. In this connection, will the Government inform this Council:

    (1) whether it has considered revitalising the former Choi Hung Road Market; if so, of the timetable and roadmap;

    (2) whether it will consider opening up the former Choi Hung Road Market to youth groups or non-profit-making district groups in the short term for the creation of music and art spaces as well as cultural and creative markets, so as to optimise the use of idle spaces; if so, of the details; if not, the reasons for that; and

    (3) whether it will, in the long run, consider converting the former Choi Hung Road Market for the provision of dental clinics as well as leisure and cultural services facilities (e.g. libraries and study rooms) to cater for the needs of local residents; if so, of the details; if not, the reasons for that?

    Reply:

    President,
         
         With regard to the overall planning of the Choi Hung Road (CHR) Playground, the CHR Sports Centre and the former CHR Market site, the Energizing Kowloon East Office (the Office) of the Development Bureau commenced the study and planning work in collaboration with relevant government departments including the Leisure and Cultural Services Department, the Planning Department and the Architectural Services Department (ArchSD). The objective is to improve the recreational and sports facilities and integrate other uses under the principle of “single site, multiple use” to make better use of land resources and meet societal needs at the same time. After consultation with the relevant policy bureaux and departments, the reply to the questions is as follows:

    (1) and (3) The CHR Playground, the CHR Sports Centre and the former CHR Market are located in San Po Kong with a total site area of about 4.5 hectares. Taking into account the actual district situation, it is recommended to preserve the playground open space area as far as possible with enhancement to increase its attractiveness and inclusiveness. To gather creative design and ideas, the Office and the ArchSD co-organised the Design Competition for Redevelopment of Open Space at CHR Playground and would consider adopting some of the design ideas and concepts of the winning entry for the design of the redevelopment project. As for the CHR Sports Centre and the former market part, taking into account the advice from relevant policy bureaux and departments, it is proposed to develop a new integrated government complex under the principle of “single site, multiple use” to reprovision and upgrade the existing recreational and sports facilities and to introduce some new services. The Office consulted the Wong Tai Sin District Council and other members of the local community on the preliminary proposals of the redevelopment project in February 2023 and incorporated the relevant comments. In terms of recreational and sports facilities, under the latest design, the sports centre facilities which will be reprovisioned and upgraded include an indoor multi-purpose arena, badminton courts, a multi-function activity room, a children’s play room, a table tennis room, a dance room and a fitness room, and a new indoor futsal-cum-handball court. The integrated complex will also provide space for welfare facilities (including elderly and child care centres) and set up the Wong Tai Sin District Health Centre as a hub to provide and co-ordinate primary healthcare services of the district. A public vehicle park will be provided in the redevelopment project and the existing San Po Kong Public Library will also be reprovisioned in the integrated complex so as to upgrade the services and facilities of the library. The relevant preliminary studies for the project have been completed. The Office is liaising with concerned departments on details of commencing the relevant town planning procedures to prepare for the project implementation.

    (2) The CHR Playground and the CHR Sports Centre are still in operation while the CHR Market was closed in March 2022. To optimise the use of resources, following the established procedures, the Food and Environmental Hygiene Department (FEHD) has identified appropriate alternative user departments to use the premises. Currently, part of the premises is separately used by the FEHD for temporary storage purpose and by the Transport Department for temporary storage of seized bicycles that were illegal parked or abandoned.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: LCQ12: Chronic Disease Co-Care Pilot Scheme

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Chan Pui-leung and a written reply by the Secretary for Health, Professor Lo Chung-mau, in the Legislative Council today (February 19):

    Question:

         The Government has launched the three-year Chronic Disease Co-Care Pilot Scheme (the Scheme) from November 13 2023 to provide subsidised diabetes mellitus (DM) and hypertension (HT) screening services in the private healthcare sector to Hong Kong residents aged 45 or above with no known medical history of DM or HT. In this connection, will the Government inform this Council:

    (1) of the following information on the participants since the launch of the Scheme: (i) the number of participants, as well as the distribution of their gender, age and respective District Health Centres (DHCs) and DHC Expresses and, among them, the respective numbers of participants who (ii) have completed DM and HT screening, (iii) have been diagnosed with prediabetes, DM or HT, and have entered the treatment stage, and (iv) have been arranged by their family doctors to receive a one-off internal medicine specialist consultation at the Hospital Authority through the bi-directional referral mechanism;

    (2) of the following information on the participating family doctors and family doctors’ service points (service points) since the launch of the Scheme: (i) the number of family doctors, (ii) the number and geographical distribution of service points, and (iii) the number of family doctors and service points that can pair participants with a family doctor at the clinic and are open for direct enrolment to the Scheme;

    (3) as it is learnt that under the Scheme, the Government has recommended that family doctors should only charge participants a co-payment fee of $150 for each consultation during the treatment stage, whether the Government has compiled statistics on the respective numbers and proportions of family doctors and service points which are currently charging a co-payment fee of (i) $150 or less and (ii) over $150, as well as the highest co-payment fee;

    (4) as it is learnt that there is an imbalance between family doctors and service points participating in the Scheme and participants in some districts, resulting in members of the public having to seek medical treatment in other districts or giving up on participating in the Scheme, whether the Government has measures in place to rationalise the allocation of resources, including encouraging more family doctors and service points to participate in the Scheme;

    (5) as the Health Bureau announced on January 20 this year that the Scheme has introduced dedicated nurse clinic and allied health services under the district health network at over 40 service points across Hong Kong, of the number of participants who have received the additional services so far, together with a breakdown by type of service; whether it has plans to further introduce service points in the 18 districts across the territory; if so, of the details; if not, the reasons for that;

    (6) given that the 2024 Policy Address has proposed to expand the Scheme to cover blood lipid testing within this year, of the specific implementation timetable and work progress concerned; whether it will further expand the Scheme to cover other tests and diseases, such as cholesterol check and osteoporosis; if so, of the details; if not, the reasons for that; and

    (7) whether the various service performance indicators of the Scheme since its launch have met the Government’s expectations; how the Government will step up publicity to attract more target members of the public to participate in the Scheme?

    Reply:

    President,

         The Government launched the Chronic Disease Co-Care Pilot Scheme (CDCC Pilot Scheme) in November 2023, which is the first major initiative under the Primary Healthcare Blueprint. The Scheme provides Government-subsidised diabetes mellitus (DM) and hypertension (HT) screening and doctor consultation services to Hong Kong residents aged 45 or above with no known medical history of DM or HT, with the aim to encourage citizens to receive early screening in order to get a better understanding of their own health status, so as to achieve the objectives of early prevention, early identification and early treatment.

         In consultation with the Primary Healthcare Commission (PHC Commission), the replies to the respective parts of the question raised by the Hon Chan Pui-leung are as follows:

    (1) and (6) As at February 13, 2025, the number of participants in the CDCC Pilot Scheme has exceeded 100 000 (about 101 800) (see Annex I), of which around 58 700 participants have completed the screenings for DM and HT, and around 23 500 of them (i.e. nearly 40 per cent) have been diagnosed with prediabetes (note), DM or HT. The latter patients can proceed to the treatment phase and will be subsidised by the Government to continue their treatment with self-selected family doctors by shouldering certain co-payment amount under a co-payment model, and subject to their health conditions, be offered prescribed medication, and follow-up care at nurse clinics and allied health services. In addition, the Government has established a bi-directional referral mechanism with the Hospital Authority (HA) under the CDCC Pilot Scheme. Family doctors can refer participants with clinical needs to receive a one-off specialist consultation at a designated Medicine Specialist Out-patient Clinic of the HA according to clinical diagnosis and pre-defined criteria and guidelines. 29 participants have received one-off specialist consultation at the HA through the mechanism. 

         The Government noted that there is a higher proportion of women among participants. As at December 31, 2024, about 67 per cent of the participants were female and 33 per cent were male, with around 70 per cent of participants aged between 45 and 64. In view of the relatively low proportion of male participants, various District Health Centres / District Health Centre Expresses (collectively DHCs) are enhancing their promotional efforts focusing on men, including stepping up promotional efforts targeting at practitioners of particular industries such as transport, construction and catering, and arranging promotional activities on non-working days, especially Sundays.

         The Government regularly reviews primary healthcare services and the service scope of the CDCC Pilot Scheme based on scientific evidence and resource utilisation considerations. The Government is actively planning to expand the CDCC Pilot Scheme in 2025 to cover blood lipid testing for eligible participants, allowing a more comprehensive approach to the assessment and proper management of cardiovascular disease risk factors, including the “three highs” (high blood pressure, high blood sugar and high cholesterol). Details will be announced in due course. There is currently no sufficient scientific evidence to support the recommendation that routine screening for osteoporosis among persons at average risk is effective or cost-effective. In light of this, the Government has no plan to provide osteoporosis screening services to the public at the moment. At the health management and promotion level, the DHCs will continue to organise educational activities to promote prevention of osteoporosis and osteoporotic fracture, and collaborate with different community organisations and healthcare service providers to provide information or make referrals for those interested or in need of osteoporosis services.

         As mentioned in the Primary Healthcare Blueprint, local studies have shown that the healthcare system can achieve savings in healthcare expenses and reduce the burden of disease through the provision of subsidised screening and management services for DM management to suitable patients. The CDCC Pilot Scheme is a pilot scheme that encourage eligible citizens to undergo screening for DM and HT, two common chronic diseases, so that hidden patients of chronic diseases can be detected at an early stage, and their complications can be treated and prevented as early as possible, thereby reducing the need for hospitalisation. In order to further examine the effectiveness of the CDCC Pilot Scheme, the Government commissioned a local university in the first quarter of 2024 to conduct a study to assess the extent to which the objectives of the Scheme are met and the overall performance, including the service quality, effectiveness, as well as the cost-effectiveness. The Government will review the service model and operational details of the CDCC Pilot Scheme in a timely manner and make enhancements as necessary to ensure its effectiveness.

    (2), (3) and (4) Family doctors are generally supportive of the CDCC Pilot Scheme. As at February 13, 2025, there are 599 family doctors (at 785 service points) participating in the CDCC Pilot Scheme, of which 182 family doctors (at 218 service points) offer direct patient enrolment at their clinics. 

         Of the participating service points, two-thirds (530 service points) charge co-payment at the Government-recommended consultation co-payment fee of $150 or below. The number of family doctors’ service points, the distribution of districts and the range of co-payment set by the family doctors are set out in Annex II. 

         At present, all districts in Hong Kong have a certain number of family doctor service points. CDCC Pilot Scheme participants can, according to their own needs, choose to go to a service point near their place of residence, workplace or any other suitable service point to match with a family doctor for screening and follow-up services in a flexible manner, and hence the number of enrolled participants across districts may not align with the distribution of family doctor service points. The PHC Commission will continue to strive to increase the number of family doctor service points in various districts, with a view to providing the public with more choices and enhancing their convenience and flexibility in seeking treatment. In this connection, the PHC Commission has organised five webinars to promote and introduce the CDCC Pilot Scheme to family doctors, and actively invited family doctors/clinics, in particular, doctors who enrolled in the General Outpatient Clinic Public-Private Partnership Programme and those enlisted in the Primary Care Directory, to participate in the Scheme. The PHC Commission and the Hong Kong College of Family Physicians co-organised the World Family Doctor Day Symposium 2024 on May 18, 2024, to share and discuss with healthcare professionals the promotion of primary healthcare services in a concerted manner. The Symposium also highlighted the enhancements introduced by the Government to support family doctors in providing necessary care to CDCC Pilot Scheme participants, and successfully encouraged more doctors to join the Scheme.

         Furthermore, the Government has been optimising the operational details of the Scheme by streamlining various administrative procedures and workflow, with a view to enhancing the family doctors; ease of operation of the system. Moreover, to increase the flexibility of the CDCC Pilot Scheme, starting from March 2024, members of the public can choose to directly enrol at certain participating clinics of the CDCC Pilot Scheme to pair with a family doctor in the clinic for screening. In addition, having reviewed the actual needs of participants, the Government has expanded the basic-tier drug list of the CDCC Pilot Scheme since August 2024 to increase the coverage of its basic-tier drugs from 43 items at the initial stage to 59 drug items, providing family doctors with greater flexibility in prescribing drugs according to the clinical needs of participants.

    (5) In order to provide a broader scope of healthcare services with better coherence to the CDCC Pilot Scheme participants, dedicated nurse clinic and allied health (including optometrists, physiotherapists and dietitians) services were introduced on January 20, 2025. Nurse clinic and allied health services are referral-based. Family doctors or the DHCs will make referrals based on the health needs of CDCC Pilot Scheme participants for suitable treatment and follow-up care. Nurse clinics are generally able to handle most cases effectively and their service points cover Hong Kong Island, Kowloon and the New Territories, whereas allied health services mainly focus on patients with specific clinical needs or complex medical conditions, and thus it is not necessary to establish service points in all districts. In less than a month since the introduction of the relevant services, 47 CDCC Pilot Scheme participants have already made appointments for relevant services, of which 33 have received services (see Annex III).

         The dedicated nurse clinic and allied health services will be rolled out in phases, with the first phase to provide services to CDCC Pilot Scheme participants. Other members of the DHCs who are not participating in the CDCC Pilot Scheme will receive dedicated nurse clinic and allied health services under a co-payment model in the next phase, with details to be announced later.

     (7) Since the launch of the CDCC Pilot Scheme, the Government has promoted the CDCC Pilot Scheme through various channels, among which the DHCs play an important role. In addition to inviting existing eligible members to participate in the CDCC Pilot Scheme, the DHCs also organise large-scale promotional activities in respective districts and strengthen connection with the public through community outreach activities, mobile outreach vehicles and promotional booths in community complexes. The DHCs have been actively co-operating with community service partners, such as the District Services and Community Care Teams to organise community activities to recruit eligible individuals to become Scheme participants. 

         At the same time, the Government has also been carrying out other forms of publicity activities to promote the CDCC Pilot Scheme through various television and media channels, and providing the public and healthcare service providers with latest information of the CDCC Pilot Scheme through various communication platforms (such as website, telephone hotline, posters and brochures, electronic newsletters and online briefings). 

    Note: Prediabetes with glycated haemoglobin level of 6.0 to 6.4 per cent or fasting plasma glucose level of 6.1 to 6.9 mmol/L.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Examination toppers participate in 8th episode of Pariksha Pe Charcha 2025

    Source: Government of India (2)

    Posted On: 19 FEB 2025 12:06PM by PIB Delhi

    The insightful discussions initiated by Prime Minister Shri Narendra Modi in the inaugural episode of the 8th edition of Pariksha Pe Charcha culminated with the eighth and final episode, where eight young achievers engaged with students. They were Radhika Singhal (CBSE topper 2022-23); Shuchismita Adhikari (ISC Exam topper 2024); Brahmacharimayum Nistha (PPC anchor & MBBS student, Manipur University); Ashish Kumar Verma (PPC anchor & IIT Delhi student); Vavilala Chidvilas Reddy (IIT JEE Advanced AIR – 1, 2023); Jai Kumar Bohara (CLAT AIR – 1, 2024); Armanpreet Singh (NDA AIR – 1, 2024); and Ishita Kishore (UPSC-CSE AIR – 1 2022).

    While interacting with the students, Nistha suggested revising previous years’ questions and learning to prioritize, as advised by Prime Minister Shri Narendra Modi in his book, emphasizing the importance of “becoming wise with revise.” Shuchismita encouraged focusing on preparation and advised writing down answers to help articulate learned concepts.

    Jai Kumar highlighted the need for personalized preparation strategies and recommended experimenting with different methods to find the best. He suggested studying for 25 minutes, taking a 5-minute break, and maintaining discipline in this routine. His key advice for students was to be ready to make sacrifices to achieve their goals.

    Armanpreet emphasized focusing on strengths, while Ishita stressed the importance of honesty and not being overpowered by fear. She also highlighted the significance of maintaining a balanced schedule—studying for 7-8 hours, pursuing hobbies for 1-2 hours, and ensuring adequate sleep.

    Radhika underscored the value of extracurricular activities in building confidence. Chidvilas shared tips for managing exam-related stress, suggesting activities such as indoor and outdoor games, reading, or listening to music between study sessions. He also encouraged students to remain happy but never complacent.

    Nistha reminisced about her experience anchoring Pariksha Pe Charcha, highlighting how it enhanced her communication and preparation skills, benefiting her exam readiness. Ashish shared his mantra of the “three wins”—spiritual, mental, and physical.

    Additionally, Ishita and Jai guided students through an interview masterclass, while Ashish conducted a session on question paper strategies, helping students prepare for life through structured time management.

    Students asked questions about board exam preparation, societal support, and mastering life skills. Participants from Japan and Dubai also asked questions to the guests. After the session, students reflected on their learning from the interaction with the panellists.

    To ensure comprehensive development, distinguished personalities from various fields—including sports icons, technical experts, toppers of competitive exams, entertainment industry professionals, and spiritual leaders—are enriching students with insights beyond textbooks. Each session provided students with essential tools and strategies to excel academically and personally.

    The eighth edition of Pariksha Pe Charcha (PPC) 2025, in its revamped and interactive format, has been receiving widespread appreciation from students, teachers, and parents across the nation. Breaking away from the traditional Town Hall format, this year’s edition commenced with an engaging session featuring Prime Minister Shri Narendra Modi at the scenic Sunder Nursery, New Delhi, on 10th February 2025.

    In the inaugural episode, the Prime Minister interacted with 36 students from across the country, discussing insightful topics such as Nutrition and Wellness, Mastering Pressure, Challenging Oneself, The Art of Leadership, Beyond Books – 360º Growth, Finding Positives, and more. His valuable guidance offered students practical strategies to tackle academic challenges with confidence while fostering a growth mindset and holistic learning.

    Pariksha Pe Charcha has been a beacon of inspiration for students, empowering them with confidence and resilience to tackle academic and life challenges with a positive mindset.

    Link to watch the 1st episode: https://www.youtube.com/watch?v=G5UhdwmEEls

    Link to watch the 2nd episode: https://www.youtube.com/watch?v=DrW4c_ttmew

    Link to watch the 3rd episode: https://www.youtube.com/watch?v=wgMzmDYShXw

    Link to watch the 4th episode: https://www.youtube.com/watch?v=3CfR4-5v5mk

    Link to watch the 5th episode: https://www.youtube.com/watch?v=3GD_SrxsAx8

    Link to watch the 6th episode: https://www.youtube.com/watch?v=uhI6UbZJgEQ

    Link to watch the 7th episode: https://www.youtube.com/watch?v=y9Zg7B_o8So

    Link to watch the 8th episode: https://www.youtube.com/watch?v=hR9BazO6Vfo

    *****

    MV/AK

    MOE/PPC/18 February 2025/12

    (Release ID: 2104584) Visitor Counter : 101

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Union Minister Shri Shivraj Singh Chouhan inaugurates the National Geospatial Knowledge-based Land Survey of Urban Habitations (NAKSHA) at Raisen, Madhya Pradesh

    Source: Government of India (2)

    Posted On: 18 FEB 2025 9:30PM by PIB Delhi

    Union Minister for Rural Development and Agriculture & Farmers’ Welfare Shri Shivraj Singh Chouhan inaugurated the National Geospatial Knowledge-based Land Survey of Urban Habitations (NAKSHA) Pilot programme of the Department of Land Resources, Ministry of Rural Development, Government of India at Raisen, Madhya Pradesh. The Union Minister also launched the Standard Operating Procedure (SoP) Booklet, Video and Flyers on  NAKSHA Programme, and flagged off  WDC Yatra. WDC video was screened and Watershed Anthem was played on the occasion. The NAKSHA launch functions have also been parallelly organized in 122 ULBs and some LSG / Revenue Department Headquarters across 26 States and 3 Union Territories. The occasion marked the demonstration of technological advancement in land surveying like use of drones, GNSS Rovers etc. Drone flying was one of the main features at the national launch at Raisen and in other ULBs.

     

    The function was presided over by Dr Mohan Yadav, Chief Minister of Madhya Pradesh. The event was also graced by Dr Chandrashekhar Pemmasani, Minister of State for Rural Development and Communications, Government of India, Shri Prahlad Singh Patel, Minister for Panchayati Raj and Rural Development, Madhya Pradesh, Shri Karan Singh Verma, Revenue Minister,  Madhya Pradesh, Shri Narayan Singh Panwar, Minister for Fishermen Welfare and Fisheries Development Department, Madhya Pradesh, MLA, Sanchi,  Shri Prabhu Ram Chaudhary, Shri Manoj Joshi, Secretary,  Department of Land Resources, Government of India and other officers from Government of India and Madhya Pradesh State Government. People from across  Madhya Pradesh and other parts of the country was present at the function.

     

    The participating ULBs and departments across the States and UTs have given wide publicity to the NAKSHA programme for creating awareness about the aim, objective and the benefits of the programme, which includes creation and updation of land records in urban and peri urban areas thereby empowering citizens, improving ease of living, enhancing urban planning, and reducing land-related disputes. The action under the programme also includes establishing IT-based system for property record administration to foster transparency, efficiency, and support sustainable development.

     

     

    *****

    MG/RN

    (Release ID: 2104583) Visitor Counter : 37

    MIL OSI Asia Pacific News

  • MIL-OSI: Stock Yards Bancorp Declares Quarterly Cash Dividend of $0.31 per Common Share

    Source: GlobeNewswire (MIL-OSI)

    LOUISVILLE, Ky., Feb. 19, 2025 (GLOBE NEWSWIRE) — Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank & Trust Company, with offices in the Louisville, central, eastern and northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets, announced that its Board of Directors has declared a quarterly cash dividend of $0.31 per common share. The dividend will be paid on April 1, 2025, to stockholders of record as of March 17, 2025.

    Louisville, Kentucky-based Stock Yards Bancorp, Inc., with $8.86 billion in assets, was incorporated in 1988 as a bank holding company. It is the parent company of Stock Yards Bank & Trust Company, which was established in 1904. The Company’s common shares trade on The NASDAQ Stock Market under the symbol “SYBT.” For more information about Stock Yards Bancorp, visit the Company’s website at www.syb.com.

    Contact: T. Clay Stinnett
      Executive Vice President, Treasurer
      and Chief Financial Officer
      (502) 625-0890

    The MIL Network

  • MIL-OSI Economics: Secretary-General of ASEAN meets with Organising Chairman of Australia-ASEAN Business Forum

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today received Francis Wong, Organising Chairman of the Australia-ASEAN Business Forum, at the ASEAN Headquarters/ASEAN Secretariat. During the meeting, both sides exchanged views on strategies to enhance economic cooperation, facilitate trade and investment opportunities, and strengthen engagement between ASEAN and Australia, ahead of the upcoming Australia-ASEAN Business Forum, scheduled to be held in the second half of 2025 in Australia.

    The post Secretary-General of ASEAN meets with Organising Chairman of Australia-ASEAN Business Forum appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI Economics: Samsung India Launches Galaxy A06 5G: ‘Kaam ka 5G’ with Superfast Connectivity & Powerful Performance at an Affordable Price

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand, today announced the launch of Galaxy A06 5G, bringing an awesome 5G experience at an affordable price. As the most affordable budget Galaxy A series 5G smartphone, Galaxy A06 5G is designed to offer consumers maximum value with its reliable performance and longevity.
     
    Starting today, Galaxy A06 5G will be available across all retail outlets in India, Samsung exclusive stores, as well as other offline channels, in multiple storage variants. Starting just INR 10499 for the 4GB RAM variant with 64GB storage, Galaxy A06 5G comes in three sleek and attractive colours – Black, Gray and Light Green. As a special launch offer, customers can avail one-year screen protection plan with Samsung Care+ package at just INR 129, providing additional protection and peace of mind.
     
    “With the launch of Galaxy A06 5G, we are bringing segment-leading 12 5G bands for a great 5G experience. Designed to offer awesome connectivity, powerful performance, and segment leading innovations, the device reaffirms our commitment to making cutting-edge technology accessible to everyone. With this device, we are also ensuring that users can enjoy high-speed connectivity for work and entertainment along with unmatched durability,” said Akshay S Rao, General Manager, MX Business, Samsung India.
     
     
    Awesome Performance
    Galaxy A06 5G supports all network compatibility, 12 5G bands and features carrier aggregation for enhanced network connectivity and faster speeds across all telecom operators. Powered by the MTK D6300 processor, Galaxy A06 5G ensures powerful performance and makes multitasking, gaming, and streaming an effortless exercise. The smartphone also provides RAM up to 12GB with RAM Plus feature.
     
     
    Awesome Camera and Display
    The device is equipped with a 50MP main rear camera for capturing sharp and detailed images and a 2MP depth camera for enhanced clarity, while the 8MP front camera ensures high-quality selfies and video calls. The smartphone also features a sleek and stylish design while ensuring a vivid visual experience with its expansive 6.7-inch HD+ display with a 20:9 aspect ratio. The smartphone also features a 5,000 mAh battery with best in segment 25W fast charging support.
     
     
    Awesome Trustworthiness
    Galaxy A06 5G will be available with Android 15 and Samsung’s One UI 7, ensuring users get the latest software experience. Samsung is redefining reliability with Galaxy A06 5G, offering an impressive 4 generations of OS upgrades and 4 years of security updates, a commitment that sets it apart in this segment. These industry-leading upgrades and updates are set to keep the device always up to date and ensure smoother usage experiences for users for a long period. Built for durability, Galaxy A06 5G comes with an IP54 rating, providing protection against dust and splashes.
     
     
    Awesome Galaxy Experience
    Samsung is also introducing ‘Voice Focus’ in the smartphone for the first time, an India-first innovation designed to enhance call clarity in noisy environments, making conversations clearer and more effective. This feature reflects Samsung’s commitment to bringing meaningful innovations tailored to the needs of Indian consumers. The device also prioritizes security and privacy by incorporating Samsung’s defense-grade Knox Vault security that empowers users to manage their data securely, enhancing their overall experience.
     
     
    Price and Launch Offers
    Product
    Colors
    Variant
    Price (INR)
    Offers
     
    Galaxy A06 5G
    Black, Gray, Light Green
    4GB + 64GB
    10499
    One year screen protection plan @ INR 129 with Samsung Care + package against standard market price of INR 699
    4GB + 128GB
    11499
    6GB + 128GB
    12999
     
    Galaxy A06 5G also comes with attractive EMI offers with Samsung Finance+, NBFC and banks, wherein consumers can own the smartphone for as low as INR 875 per month.

    MIL OSI Economics

  • MIL-OSI: Global-e Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    PETAH-TIKVA, Israel, Feb. 19, 2025 (GLOBE NEWSWIRE) — Global-e Online Ltd. (Nasdaq: GLBE) the platform powering global direct-to-consumer e-commerce, today reported financial results for the fourth quarter of 2024 and full year 2024.

    “2024 was yet another record-breaking year for Global-e, and it came to a great close with a fourth quarter which was our strongest quarter ever, as we continued to execute on our strategy and further solidify Global-e’s leadership position in the global e-commerce space,” said Amir Schlachet, Founder and CEO of Global-e. “In addition, we achieved two important financial milestones during the quarter. For the first time in our journey, we crossed the 20% Adjusted EBITDA Margin mark, which was the long-term target we set for ourselves at the IPO, and we reached GAAP profitability for the first time as a public company; a testament to our relentless focus on delivering fast yet durable growth.”

    “As we head into 2025, we remain as committed as ever to continue on our growth path, deliver more cutting-edge and market-leading solutions to our merchants and seize more and more of the great opportunities that lie ahead of us in the world of global e-commerce. In 2025, we also expect to achieve three additional key financial milestones: surpass the 20% Adjusted EBITDA Margin mark on a full year basis, achieve annual GAAP profitability, and most importantly, for the first time, cross an annual run-rate of $1 billion in Revenues.”

    Q4 2024 Financial Results

    • GMV1 in the fourth quarter of 2024 was $1,713 million, an increase of 44% year over year
    • Revenue in the fourth quarter of 2024 was $262.9 million, an increase of 42% year over year, of which service fees revenue was $117.3 million and fulfillment services revenue was $145.6 million
    • Non-GAAP gross profit2 in the fourth quarter of 2024 was $120.9 million, an increase of 53% year over year. GAAP gross profit in the fourth quarter of 2024 was $118.7 million
    • Non-GAAP gross margin2 in the fourth quarter of 2024 was 46%, an increase of 330 basis points from 42.7% in the fourth quarter of 2023. GAAP gross margin in the fourth quarter of 2024 was 45.1%
    • Adjusted EBITDA3 in the fourth quarter of 2024 was $57.1 million compared to $35.2 million in the fourth quarter of 2023, an increase of 62% year over year
    • Net profit in the fourth quarter of 2024 was $1.5 million
    • Net cash provided by operating activities in the fourth quarter of 2024 was $129.3 million, while capital expenditures totaled $0.5 million, leading to free cash flow of $128.8 million

    FY 2024 Financial Results

    • GMV1 for the full year was $4,858 million, an increase of 37% year over year
    • Revenue for the full year was $752.8 million, an increase of 32% year over year, of which service fees revenue was $350.3 million and fulfillment services revenue was $402.5 million
    • Non-GAAP gross profit2 for the full year was $349.4 million, an increase of 43% year over year. GAAP gross profit for the full year was $339.4 million
    • Non-GAAP gross margin2 for the full year was 46.4%, an increase of 350 basis points from 42.9% in 2023. GAAP gross margin for the full year was 45.1%
    • Adjusted EBITDA3 for the full year was $140.8 million compared to $92.7 million in 2023, an increase of 51.8% year over year
    • Net loss for the full year was $75.5 million
    • Net cash provided by operating activities in the full year was $169.4 million, while capital expenditures totaled $2.3 million, leading to free cash flow of $167.1 million

    Recent Business Highlights

    • Throughout 2024, our existing merchant base continued to stay and grow with us, as reflected in our annual enterprise NDR rate of 119% and GDR rate of 93.5%. GDR and NDR were negatively impacted by the out of the ordinary bankruptcy of Ted Baker and by several Borderfree merchants that chose not to re-platform to the Global-e platform. NDR and GDR excluding the out of the ordinary churn for 2024 is close to 123% and 97%, respectively
    • Recently launched with Logitech, one of the world’s largest and most innovative providers of computer peripherals and input devices, gaming accessories, audio and video gear and smart home device
    • On-boarded many additional new merchants located around the globe and trading in various verticals, including:
      • North America – shapewear brand Spanx, Thursday Boots, and the web store of famous fashion designer Tom Ford
      • UK and Europe – Spanish brand Tous, Italian fashion brand Slowear, UK footwear brand Phoebe Philo, German brand IvyOak, Swiss running gear brand Compressport, famous Austrian lingerie brand Triumph, French brands ZAPA and MOLLI, and the Finish brand HURTTA
      • APAC – Japanese brands Komehyo, one of Japan’s largest retailers of second-hand goods, Kyoto-based wristwatch brand Kuoe, novelty brands Mofusand and Taito, and the tailored shirt brand Kamakura Shirts, as well as the renowned Korean cosmetics brand Depology, and Australian fashion brands Zoe Kratzmann and SECONDLEFT
    • Expanded to new lanes with existing merchants – added Romania and Croatia to the markets we operate for Adidas, went live with a new outlet site for John Smedley, and added Strellson, the third brand to go live with us out of the Swiss Holy Fashion Group
    • Shopify Managed Markets – continued joint work with Shopify to add new features and functionalities to the Managed Markets offering, aimed at making it applicable to a wider range of merchants on the Shopify platform

    Q1 2025 and Full Year Outlook

    Global-e is introducing first quarter and full year guidance as follows:

        Q12025   FY 2025
        (in millions)
    GMV(1) $1,210 – $1,250   $6,190 – $6,490
    Revenue $184.5 – $191.5   $917 – $967
    Adjusted EBITDA(3) $29.5 – $33.5   $179 – $199

    1 Gross Merchandise Value (GMV) is a key operating metric. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric.
    2 Non-GAAP Gross profit and Non-GAAP gross margin are non-GAAP financial measures. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric.
    3 Adjusted EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures” for additional information regarding this metric, including the reconciliations to Operating Profit (Loss), its most directly comparable GAAP financial measure. The Company is unable to provide a reconciliation of Adjusted EBITDA to Operating Profit (Loss), its most directly comparable GAAP financial measure, on a forward-looking basis without unreasonable effort because items that impact this GAAP financial measure are not within the Company’s control and/or cannot be reasonably predicted. These items may include, but are not limited to, share-based compensation expenses. Such information may have a significant, and potentially unpredictable impact on the Company’s future financial results.

    Conference Call Information

    Global-e will host a conference call at 8:00 a.m. ET on Wednesday, February 19, 2025.
    The call will be available, live, to interested parties by dialing:

    United States/Canada Toll Free:  1-800-717-1738
    International Toll: 1-646-307-1865

    A live webcast will also be available in the Investor Relations section of Global-e’s website at: https://investors.global-e.com/news-events/events-presentations

    Approximately two hours after completion of the live call, an archived version of the webcast will be available on the Investor Relations section of the Company’s web site and will remain available for approximately 30 calendar days.

    Non-GAAP Financial Measures and Key Operating Metrics

    To supplement Global-e’s financial information presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, Global-e considers certain financial measures and key performance metrics that are not prepared in accordance with GAAP including:

    • Non-GAAP gross profit, which Global-e defines as gross profit adjusted for amortization of acquired intangibles. Non-GAAP gross margin is calculated as Non-GAAP gross profit divided by revenues
    • Adjusted EBITDA, which Global-e defines as operating profit (loss) adjusted for stock-based compensation expenses, depreciation and amortization, commercial agreements amortization, amortization of acquired intangibles and merger related contingent consideration.
    • Free cash flow, which Global-e defines as net cash provided by operating activities less purchase of property and equipment.

    Global-e also uses Gross Merchandise Value (GMV) as a key operating metric. Gross Merchandise Value or GMV is defined as the combined amount we collect from the shopper and the merchant for all components of a given transaction, including products, duties and taxes and shipping.

    The aforementioned key performance indicators and non-GAAP financial measures are used, in conjunction with GAAP measures, by management and our board of directors to assess our performance, including the preparation of Global-e’s annual operating budget and quarterly forecasts, for financial and operational decision-making, to evaluate the effectiveness of Global-e’s business strategies, and as a means to evaluate period-to-period comparisons. These measures are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. We believe that these non-GAAP financial measures are appropriate measures of operating performance because they remove the impact of certain items that we believe do not directly reflect our core operations, and permit investors to view performance using the same tools that we use to budget, forecast, make operating and strategic decisions, and evaluate historical performance.

    Global-e’s definition of Non-GAAP measures may differ from the definition used by other companies and therefore comparability may be limited. In addition, other companies may not publish these metrics or similar metrics. Furthermore, these metrics have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated statement of operations that are necessary to run our business. Thus, Non-GAAP measures should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with GAAP.

    For more information on the non-GAAP financial measures, please see the reconciliation tables provided below. The accompanying reconciliation tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures.

    Cautionary Note Regarding Forward Looking Statements

    This press release contains estimates and forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our future strategy and projected revenue, GMV, Adjusted EBITDA and other future financial and operational results, growth strategy and plans and objectives of management for future operations, including, among others, expansion in new and existing markets, the launch of large enterprise merchants, and our ongoing partnership with Shopify, are forward-looking statements. As the words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Global-e believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, our rapid growth and growth rates in recent periods may not be indicative of future growth; the ability to retain merchants or the GMV generated by such merchants; the ability to retain existing, and attract new merchants; our business acquisitions and ability to effectively integrate acquired businesses; our ability to anticipate merchant needs or develop or acquire new functionality or enhance our existing platforms to meet those needs; our ability to implement and use artificial intelligence and machine learning technologies successfully; our ability to compete in our industry; our reliance on third-parties, including our ability to realize the benefits of any strategic alliances, joint ventures, or partnership arrangements and to integrate our platforms with third-party platforms; our ability to develop or maintain the functionality of our platforms, including real or perceived errors, failures, vulnerabilities, or bugs in our platforms; our history of net losses; our ability to manage our growth and manage expansion into additional markets; increased attention to ESG matters and our ability to manage such matters; our ability to accommodate increased volumes during peak seasons and events; our ability to effectively expand our marketing and sales capabilities; our expectations regarding our revenue, expenses and operations; our ability to operate internationally; our reliance on third-party services, including third-party providers of cross-docking services and third-party data centers, in our platforms and services and harm to our reputation by our merchants’ or third-party service providers’ unethical business practices; our ability to adapt to changes in mobile devices, systems, applications, or web browsers that may degrade the functionality of our platforms; our operation as a merchant of record for sales conducted using our platform; regulatory requirements and additional fees related to payment transactions through our e-commerce platforms could be costly and difficult to comply with; compliance and third-party risks related to anti-money laundering, anti-corruption, anti-bribery, regulations, economic sanctions and export control laws and import regulations and restrictions; our business’s reliance on the personal importation model; our ability to securely store personal information of merchants and shoppers; increases in shipping rates; fluctuations in the exchange rate of foreign currencies has impacted and could continue to impact our results of operations; our ability to offer high quality support; our ability to expand the number of merchants using our platforms and increase our GMV and to enhance our reputation and awareness of our platforms; our dependency on the continued use of the internet for commerce; our ability to adapt to emerging or evolving regulatory developments, changing laws, regulations, standards and technological changes related to privacy, data protection, data security and machine learning technology and generative artificial intelligence evolves; the effect of the situation in Ukraine on our business, financial condition and results of operations; our role in the fulfilment chain of the merchants, which may cause third parties to confuse us with the merchants; our ability to establish and protect intellectual property rights; and our use of open-source software which may pose particular risks to our proprietary software technologies; our dependency on our executive officers and other key employees and our ability to hire and retain skilled key personnel, including our ability to enforce non-compete agreements we enter into with our employees; litigation for a variety of claims which we may be subject to; the adoption by merchants of a direct to consumer model; our anticipated cash needs and our estimates regarding our capital requirements and our needs for additional financing; our ability to maintain our corporate culture; our ability to maintain an effective system of disclosure controls and internal control over financial reporting; our ability to accurately estimate judgments relating to our critical accounting policies; changes in tax laws or regulations to which we are subject, including the enactment of legislation implementing changes in taxation of international business activities and the adoption of other corporate tax reform policies; requirements to collect sales or other taxes relating to the use of our platforms and services in jurisdictions where we have not historically done so; global events such as war, health pandemics, climate change, macroeconomic events and the recent economic slowdown; risks relating to our ordinary shares, including our share price, the concentration of our share ownership with insiders, our status as a foreign private issuer, provisions of Israeli law and our amended and restated articles of association and actions of activist shareholders; risks related to our incorporation and location in Israel, including risks related to the ongoing war and related hostilities; and the other risks and uncertainties described in Global-e’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 28, 2024 and other documents filed with or furnished by Global-e from time to time with the Securities and Exchange Commission (the “SEC”). The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.

    About Global-E Online Ltd.

    Global-e (Nasdaq: GLBE) is the world’s leading platform enabling and accelerating global, Direct-To-Consumer e-commerce. The chosen partner of over 1,000 brands and retailers across the United States, EMEA and APAC, Global-e makes selling internationally as simple as selling domestically. The company enables merchants to increase the conversion of international traffic into sales by offering online shoppers in over 200 destinations worldwide a seamless, localized shopping experience. Global-e’s end-to-end e-commerce solutions combine best-in-class localization capabilities, big-data best-practice business intelligence models, streamlined international logistics and vast global e-commerce experience, enabling international shoppers to buy seamlessly online and retailers to sell to, and from, anywhere in the world. For more information, please visit: www.global-e.com.

    Investor Contact:
    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    IR@global-e.com 
    +1 617-542-6180

    Press Contact:
    Sarah Schloss
    Headline Media
    Globale@headline.media 
    +1 786-233-7684 

    Global-E Online Ltd.
    CONSOLIDATED BALANCE SHEETS
    (In thousands)
     
        Period Ended  
        December 31,     December 31,  
        2023     2024  
              (Unaudited)  
    Assets                
    Current assets:                
    Cash and cash equivalents   $ 200,081     $ 250,773  
    Short-term deposits     96,939       187,322  
    Accounts receivable, net     27,841       41,171  
    Prepaid expenses and other current assets     63,967       84,613  
    Marketable securities     20,403       36,345  
    Funds receivable, including cash in banks     111,232       122,984  
    Total current assets     520,463       723,208  
    Property and equipment, net     10,236       10,440  
    Operating lease right-of-use assets     23,052       24,429  
    Long term deposits     3,552       3,786  
    Deferred contract acquisition costs, noncurrent     2,668       3,787  
    Other assets, noncurrent     4,078       4,527  
    Commercial agreement asset   192,721       66,527  
    Goodwill     367,566       367,566  
    Intangible assets     78,024       59,212  
    Total long-term assets     681,897       540,274  
    Total assets   $ 1,202,360     $ 1,263,482  
    Liabilities and Shareholders’ Equity                
    Current liabilities:                
    Accounts payable   $ 50,943     $ 79,559  
    Accrued expenses and other current liabilities     107,306       141,551  
    Funds payable to Customers     111,232       122,984  
    Short term operating lease liabilities     4,031       4,347  
    Total current liabilities     273,512       348,441  
    Long-term liabilities:                
    Deferred tax liabilities     6,507        
    Long term operating lease liabilities     19,291       20,510  
    Other long-term liabilities     1,071       1,098  
    Total liabilities   $ 300,381     $ 370,049  
                     
    Shareholders’ deficit:                
    Share capital and additional paid-in capital     1,360,250       1,425,317  
    Accumulated comprehensive income     (1,420 )     515  
    Accumulated deficit     (456,851 )     (532,399 )
    Total shareholders’ (deficit) equity     901,979       893,433  
    Total liabilities and shareholders’ equity   $ 1,202,360     $ 1,263,482  
    Global-E Online Ltd.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (In thousands, except share and per share data)
     
        Three Months Ended   Year Ended  
        December 31,   December 31,  
        2023     2024     2023       2024  
        (Unaudited)           (Unaudited)  
    Revenue   $ 185,401     $ 262,912     $ 569,946       $ 752,764  
    Cost of revenue     109,080       144,253       336,343         413,331  
    Gross profit     76,321       118,659       233,603         339,433  
                                     
    Operating expenses:                                
    Research and development     25,169       28,284       97,568         105,487  
    Sales and marketing     58,756       70,936       217,035         250,661  
    General and administrative     15,451       14,257       56,059         51,213  
    Total operating expenses, net     99,376       113,477       370,662         407,361  
    Operating profit (loss)     (23,055 )     5,182       (137,059 )       (67,928 )
    Financial expenses (income), net     (5,010 )     6,073       (5,262 )       11,465  
    Loss before income taxes     (18,045 )     (891 )     (131,797 )       (79,393 )
    Income tax (benefit) expenses     4,055       (2,400 )     2,008         (3,845 )
    Net profit (loss) attributable to ordinary shareholders   $ (22,100 )   $ 1,509     $ (133,805 )     $ (75,548 )
    Net profit (loss) per share attributable to ordinary shareholders, basic   $ (0.13 )   $ 0.01     $ (0.81 )     $ (0.45 )
    Net profit (loss) per share attributable to ordinary shareholders, diluted   $ (0.13 )   $ 0.01     $ (0.81 )     $ (0.45 )
    Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, basic     165,626,904       168,419,800       164,353,909         167,323,350  
    Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, diluted     165,626,904       175,674,929       164,353,909         167,323,350  
    Global-E Online Ltd.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In thousands)
        Three Months Ended     Year Ended
        December 31,     December 31,
        2023     2024     2023     2024  
        (Unaudited)             (Unaudited)  
    Operating activities                                
    Net profit (loss)   $ (22,100 )   $ 1,509     $ (133,805 )   $ (75,548 )
    Adjustments to reconcile net profit (loss) to net cash provided by operating activities:                                
    Depreciation and amortization     489       547       1,788       2,131  
    Share-based compensation expenses     12,180       9,538       44,960       39,158  
    Commercial agreement asset     37,433       37,433       150,451       148,594  
    Amortization of intangible assets     5,091       4,402       20,434       18,812  
    Unrealized loss (gain) on foreign currency     (3,011 )     3,554       (1,901 )     4,468  
    Changes in accrued interest and exchange rate on short-term deposits     72       (1,373 )     (416 )     (1,329 )
    Changes in accrued interest and exchange rate on long-term deposits     (144 )     364       (255 )     200  
    Accounts receivable     (14,390 )     15,925       (11,417 )     (13,330 )
    Prepaid expenses and other assets     61       (24,164 )     (11,736 )     (18,019 )
    Funds receivable     (9,038 )     8,726       (11,074 )     (3,205 )
    Long-term receivables     (1,497 )     51       (339 )   551  
    Funds payable to customers     40,817       2,564       33,107       11,752  
    Operating lease ROU assets     786       991       3,230       3,691  
    Deferred contract acquisition costs     (772 )     (322 )     (1,207 )     (1,382 )
    Accounts payable     18,438       37,176       (1,277 )     28,617  
    Accrued expenses and other liabilities     25,345       35,945       30,625       34,272  
    Deferred taxes     3,635       (2,592 )     120       (6,507 )
    Operating lease liabilities     99       (987 )     (3,067 )     (3,533 )
    Net cash provided by operating activities     93,494       129,287       108,222       169,393  
    Investing activities                                
    Investment in marketable securities     (851 )     (18,331 )     (3,728 )     (21,128 )
    Proceeds from marketable securities       2,028         671       4,988  
    Investment in short-term deposits     (43,250 )     (77,848 )     (175,237 )     (269,601 )
    Proceeds from short-term deposits     34,318       22,298       125,068       180,548  
    Purchases of long-term investments     (4 )     (307 )     (82 )     (1,459 )
    Proceeds from long-term deposits     10       24       10       24  
    Purchases of property and equipment     (926 )     (482 )     (1,741)       (2,335 )
    Net cash used in investing activities     (10,703 )     (72,618 )     (55,039 )     (108,963 )
    Financing activities                                
    Proceeds from exercise of Warrants to ordinary shares         3       22     5  
    Proceeds from exercise of share options     244       1,632       1,969       3,271  
    Net cash provided by financing activities     244       1,635       1,991       3,276  
    Exchange rate differences on balances of cash, cash equivalents and restricted cash     3,011       (3,554 )     1,901       (4,468 )
    Net Increase in cash, cash equivalents, and restricted cash     86,046       54,750       57,075       59,238  
    Cash and cash equivalents and restricted cash—beginning of period     182,551       273,086       211,522       268,597  
    Cash and cash equivalents and restricted cash—end of period   $ 268,597     $ 327,835     $ 268,597     $ 327,835  
    Global-E Online Ltd.
    SELECTED OTHER DATA
    (In thousands)
     
        Three Months Ended     Year Ended  
        December 31,     December 31,  
        2023     2024     2023     2024  
        (Unaudited)     (Unaudited)  
    Key performance metrics            
    Gross Merchandise Value     1,189,467               1,712,903               3,557,444               4,857,970          
    Adjusted EBITDA (a)     35,178               57,102               92,735               140,767          
                                                                     
    Revenue by Category                                                                
    Service fees     89,936       49 %     117,268       45 %     262,255       46 %     350,311       47 %
    Fulfillment services     95,465       51 %     145,644       55 %     307,692       54 %     402,453       53 %
    Total revenue   $ 185,401       100 %   $ 262,912       100 %   $ 569,946       100 %   $ 752,764       100 %
                                                                     
    Revenue by merchant outbound region                                                                
    United States     94,887       51 %     146,250       56 %     285,619       50 %     399,596       53 %
    United Kingdom     54,962       30 %     55,807       21 %     173,584       30 %     182,904       24 %
    European Union     29,421       16 %     44,469       17 %     92,566       16 %     125,547       17 %
    Israel     479       0 %     1,671       1 %     1,806       0 %     2,746       0 %
    Other   5,652     3 %     14,715       5 %   16,371     3 %     41,971       6 %
    Total revenue   $ 185,401       100 %   $ 262,912       100 %   $ 569,946       100 %   $ 752,764       100 %

    (a) See reconciliation to adjusted EBITDA table

    Global-E Online Ltd.
    RECONCILIATION TO Non-GAAP GROSS PROFIT
    (In thousands)
     
        Three Months Ended     Year Ended  
        December 31,     December 31,  
        2023     2024     2023     2024  
      (Unaudited)
    Gross Profit     76,321       118,659       233,603       339,433  
                                     
    Amortization of acquired intangibles included in cost of revenue     2,796       2,198       11,183       9,994  
    Non-GAAP gross profit     79,117       120,857       244,786       349,427  
    Global-E Online Ltd.
    RECONCILIATION TO ADJUSTED EBITDA
    (In thousands)
     
        Three Months Ended     Year Ended  
        December 31,     December 31,  
        2023     2024     2023     2024    
        (Unaudited)  
    Operating profit (loss)     (23,055 )     5,182       (137,059 )     (67,928 )  
    (1) Stock-based compensation:                                
    Cost of revenue     186       275       639       929    
    Research and development     6,962       4,153       26,266       17,291    
    Selling and marketing     1,238       1,528       4,259       5,836    
    General and administrative     3,794       3,582       13,796       15,102    
    Total stock-based compensation     12,180       9,538       44,960       39,158    
                                     
    (2) Depreciation and amortization     489       547       1,788       2,131    
                                     
    (3) Commercial agreement asset amortization   37,433       37,433     150,451       148,594    
                                 
    (4) Amortization of acquired intangibles   5,091       4,402     20,434       18,812    
                                 
    (5) Merger related contingent consideration   3,040           12,161          
                                 
    Adjusted EBITDA     35,178       57,102       92,735       140,767    
    Global-E Online Ltd.
    RECONCILIATION TO FREE CASH FLOW
    (In thousands)
        Three Months Ended   Year Ended
        December 31,   December 31,
        2023     2024     2023     2024  
      (Unaudited)
    Net cash provided by operating activities     93,434       129,287       108,222       169,393  
    Less:                          
    Purchase of property and equipment     (926 )     (482 )     (1,741 )     (2,335 )
    Free cash flow     92,508       128,805       106,481       167,058  

    The MIL Network

  • MIL-OSI: NNIT A/S: Notice convening the annual general meeting for NNIT A/S

    Source: GlobeNewswire (MIL-OSI)

    The Board of Directors gives notice of the annual general meeting for NNIT A/S, company registration (CVR) no. 21 09 31 06 (the “Company”), to be held Thursday, March 13, 2025, 2:00 pm (CET) at Novo Holdings A/S, Tuborg Havnevej 19, DK-2900 Hellerup.

    The general meeting will for shareholders be webcasted live on the Company’s investor portal. It is not possible to vote or ask questions via webcast.

    The notice for the annual general meeting, including Appendix A: Candidates for (re-)election to the Board of Directors, is attached.

    For more information, please contact:

    Investor Relations
    Carsten Ringius
    EVP & CFO
    Tel: +45 3077 8888
    carr@nnit.com 

    Media Relations
    Sofie Mand Steffens
    Senior Communications Consultant
    Tel: +45 3077 8337
    smst@nnit.com 

    ABOUT NNIT

    NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and private sectors in Denmark.

    We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high.

    We advise on and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.

    We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies, but always driven by business needs rather than technology.

    NNIT consists of group company NNIT A/S, subsidiaries in Region Europe, Asia and US and subsidiary SCALES in Region Denmark. Together, these companies employ more than 1,700 people in Europe, Asia and USA.

    Attachments

    The MIL Network

  • MIL-OSI United Nations: WFP and Republic of Korea boost food security and resilience for vulnerable families in Kenya

    Source: World Food Programme

    NAIROBI – The United Nations World Food Programme (WFP) has welcomed a contribution of US$5 million from the Republic of Korea’s Ministry of Foreign Affairs (MoFA) to improve food security and build resilience for vulnerable communities in Kenya’s arid and semi-arid regions.

    With below-normal rainfall forecasted for the upcoming March-May rainy season, strengthening early warning systems is critical to help communities and government anticipate and prepare for extreme weather events.  

    “The Republic of Korea’s commitment to supporting vulnerable families in Kenya is commendable,” said Lauren Landis, WFP’s Country Director in Kenya. “This contribution comes at a time when people in the arid and semi-arid regions face the risk of both droughts and floods, exacerbating food insecurity and increasing humanitarian needs. This project will equip communities with the tools and resources they need to prepare and build sustainable livelihoods.”

    The contribution will enable WFP to support more than 158,000 people like smallholder farmers, pastoralists, women, and youth, to restore degraded ecosystems, create economic opportunities, and strengthen early warning systems to provide accurate and timely forecasts in Baringo, Mandera, Samburu, Tana River and Turkana Counties. 

    “The Republic of Korea recognizes the urgent need to build resilience and food security in Kenya,” said Nam Sangkyoo, the Republic of Korea’s Deputy Ambassador to Kenya. “By partnering with WFP, we are empowering communities to break the cycle of crises and build a future where they can thrive.”

    The Republic of Korea is a longstanding supporter of WFP’s work in Kenya and this contribution is in addition to past investments like resilience projects supported by the Korea International Cooperation Agency (KOICA) and rice contributions for refugees from the Ministry of Agriculture, Food and Rural Affairs (MAFRA). 

    #                 #                   #

    The United Nations World Food Programme is the world’s largest humanitarian organization saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change.

    Follow us on X @wfp_kenya, @wfp_africa, @wfp_media 

    MIL OSI United Nations News

  • MIL-OSI Asia-Pac: Northern Metropolis advisors named

    Source: Hong Kong Information Services

    The Government today announced the appointment of non-official members to the Advisory Committee on the Northern Metropolis (ACNM) and its four sub-committees for a new term of two years.

         

    The newly appointed ACNM members are Cheng Jie, Lee Shing-put, Sunny Lee, Timothy Ma and Simon Ng, who will also serve on the respective sub-committees.

     

    Additionally, Prof Karl Tsim was newly appointed to the Sub-committee on Development of Industries as a co-opted member.

         

    Members will serve a new term of two years from February 10.

     

    The ACNM is chaired by Financial Secretary Paul Chan. The four sub-committees conduct in-depth discussions and provide recommendations in areas of planning, land and conservation; development of industries; transport and other infrastructure; and promotion and public engagement.

     

    Commenting on the appointments, Mr Chan said: “The development of the Northern Metropolis has been advancing on all fronts at full speed. The valuable insights provided by the ACNM members are instrumental in our work.”

     

    After thanking members of the last term for their contributions, the Financial Secretary expressed that he looks forward to working closely with members of the new term to continue promoting the advancement of the Northern Metropolis development.

    MIL OSI Asia Pacific News

  • MIL-OSI: YieldMax™ ETFs Announces Distributions on CRSH (75.93%), TSLY (62.77%), YBIT (60.33%), YMAX (56.92%), YMAG (39.10%) and Others

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, Feb. 19, 2025 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ Weekly Payers and Group A ETFs listed in the table below.

    ETF Ticker1 ETF Name Distribution Frequency Distribution per share Distribution Rate2,4 30-Day
    SEC Yield3
    ROC5 Ex-Date & Record Date Payment Date
    QDTY* YieldMax™ Nasdaq 100 0DTE Covered Call ETF Weekly
    SDTY YieldMax™ S&P 500 0DTE Covered Call ETF Weekly $0.2221 100.00% 2/20/25 2/21/25
    GPTY YieldMax™ AI & Tech Portfolio Option Income ETF Weekly $0.3258 100.00% 2/20/25 2/21/25
    LFGY YieldMax™ Crypto Industry
    & Tech Portfolio Option Income ETF
    Weekly $0.5739 58.86% 2/20/25 2/21/25
    YMAX YieldMax™ Universe
    Fund of Option Income ETFs
    Weekly $0.1852 56.92% 77.11% 72.51% 2/20/25 2/21/25
    YMAG YieldMax™ Magnificent 7
    Fund of Option Income ETFs
    Weekly $0.1369 39.10% 56.75% 39.02% 2/20/25 2/21/25
    TSLY YieldMax™ TSLA Option Income Strategy ETF Every 4 weeks $0.5793 62.77% 3.18% 93.03% 2/20/25 2/21/25
    CRSH YieldMax™ Short TSLA Option Income Strategy ETF Every 4 weeks $0.3810 75.93% 4.07% 12.68% 2/20/25 2/21/25
    GOOY YieldMax™ GOOGL Option Income Strategy ETF Every 4 weeks $0.3877 35.28% 3.33% 0.00% 2/20/25 2/21/25
    YBIT YieldMax™ Bitcoin Option Income Strategy ETF Every 4 weeks $0.5506 60.33% 1.36% 0.00% 2/20/25 2/21/25
    OARK YieldMax™ Innovation Option Income Strategy ETF Every 4 weeks $0.4269 50.34% 2.58% 93.84% 2/20/25 2/21/25
    XOMO YieldMax™ XOM Option Income Strategy ETF Every 4 weeks $0.2541 22.58% 3.58% 0.00% 2/20/25 2/21/25
    SNOY YieldMax™ SNOW Option Income Strategy ETF Every 4 weeks $0.9210 58.84% 2.58% 89.86% 2/20/25 2/21/25
    TSMY YieldMax™ TSM Option Income Strategy ETF Every 4 weeks $0.6019 42.89% 3.12% 47.33% 2/20/25 2/21/25
    FEAT YieldMax™ Dorsey Wright Featured 5 Income ETF Every 4 weeks $1.9096 53.80% 102.37% 0.00% 2/20/25 2/21/25
    FIVY YieldMax™ Dorsey Wright Hybrid 5 Income ETF Every 4 weeks $1.1203 31.12% 55.88% 0.00% 2/20/25 2/21/25
    Weekly Payers & Group B ETFs scheduled for next week: QDTY SDTY GPTY LFGY YMAX YMAG NVDY DIPS FBY GDXY BABO JPMO MRNY PLTY MARO


    Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling 
    (833) 378-0717.

    Note: DIPS, FIAT, CRSH and YQQQ are hereinafter referred to as the “Short ETFs”.

    Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

    *The inception date for QDTY is February 12, 2025.

    1All YieldMax™ ETFs shown in the table above (except YMAX, YMAG, FEAT, FIVY and ULTY) have a gross expense ratio of 0.99%. YMAX, YMAG and FEAT have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. FIVY has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio of 1.24% but the investment adviser has agreed to a 0.10% fee waiver through at least February 28, 2025.

    2The Distribution Rate shown is as of close on February 18, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.

    3 The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended January 31, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.

    4 Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.

    5ROC refers to Return of Capital. The ROC percentage is the portion of the distribution that represents an investor’s original investment.

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Standardized Performance

    For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here. For BIGY, click here. For SOXY, click here. For MARO, click here. For FEAT, click here. For FIVY, click here. For LFGY, click here. For GPTY, click here. For CVNY, click here. For SDTY, click here. For QDTY, click here.

    Important Information

    This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

    Contact Gavin Filmore at gfilmore@tidalfg.com for more information.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

    YMAX, YMAG, FEAT and FIVY generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.

    Investing involves risk. Principal loss is possible.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

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

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR, MARA, CVNA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way.

    Risk Disclosures (applicable only to GPTY)

    Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.

    Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.

    Risk Disclosure (applicable only to MARO)

    Digital Assets Risk: The Fund does not invest directly in Bitcoin or any other digital assets. The Fund does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than the Fund. Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.

    Risk Disclosures (applicable only to BABO and TSMY)

    Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

    Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

    Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

    Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

    Risk Disclosures (applicable only to GDXY)

    Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

    Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

    The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

    Risk Disclosures (applicable only to YBIT)

    YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

    Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

    Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

    Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

    Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

    Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.

    Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

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

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to YQQQ)

    Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

    Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

    Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, YieldMax™ ETFs.

    © 2025 YieldMax™ ETFs

    The MIL Network

  • MIL-OSI: Ragnarok M: Classic Has Successfully Launched in Southeast Asia

    Source: GlobeNewswire (MIL-OSI)

    Seoul, South Korea, Feb. 19, 2025 (GLOBE NEWSWIRE) — GRAVITY Co., Ltd. (NasdaqGM: GRVY) (“Gravity” or “Company”), a developer and publisher of online and mobile games, announced that GRAVITY Interactive, Inc., Gravity’s wholly-owned subsidiary, has officially launched Ragnarok M: Classic, an MMORPG Mobile game, in 9 regions of Southeast Asia on February 14, 2025 and the early success has been made after the official launch in the launching markets.

    Ragnarok M: Classic was officially launched in 9 regions in Southeast Asia on February 14, 2025, available for download on both Mobile and PC. Additionally, since the pre-registration in Southeast Asia began on November 14, 2024, it has reaffirmed its strong popularity and interest among local users by surpassing 1 million registrations as of January, 2025. 

    Ragnarok M: Classic has ranked first in free download of Apple App Store in 3 regions of Thailand, Philippines and Malaysia, second in Singapore and third in Indonesia after pre-registration download on November 14, 2024. After its official launch, the game ranked second in free download of Google Play in Thailand, fifth in Singapore and ninth in Philippines. In addition, it has ranked second in top grossing of Apple App Store in Thailand, fourth in Philippines and tenth in Indonesia, and tenth in top grossing of Google Play in Philippines and eleventh in Thailand.     

    Gravity stated, “To celebrate the official launching of Ragnarok M: Classic, we provide a variety of special events and we hope users to participate and enjoy the rewards”.

    [Gravity Official Website]
    http://www.gravity.co.kr

    [Ragnarok M: Classic Google Play Download Page]
    https://play.google.com/store/apps/details?id=com.gravityus.romzeny.aos

    [Ragnarok M: Classic Apple App Store Download Page]
    https://apps.apple.com/us/app/ragnarok-m-classic/id6602882281

    [Ragnarok M: Classic Official Website]
    https://classic.ragnaroketernallove.com/

    [Ragnarok M: Classic Official Facebook Page]
    https://www.facebook.com/RagnarokMClassic/

    [Ragnarok M: Classic Official Discord Community]

    https://discord.gg/romclassic

    About GRAVITY Co., Ltd. —————————————————

    Gravity is a developer and publisher of online and mobile games. Gravity’s principal product, Ragnarok Online, is a popular online game in many markets, including Japan and Taiwan, and is currently commercially offered in 91 regions. For more information about Gravity, please visit http://www.gravity.co.kr.

    Contact:

    Mr. Heung Gon Kim
    Chief Financial Officer
    Gravity Co., Ltd.
    Email: kheung@gravity.co.kr

    Ms. Jin Lee
    Ms. Yujin Oh
    IR Unit
    Gravity Co., Ltd.
    Email: ir@gravity.co.kr
    Telephone: +82-2-2132-7801

    The MIL Network

  • MIL-OSI: Mimecast Welcomes Adenike Cosgrove as Chief Marketing Officer

    Source: GlobeNewswire (MIL-OSI)

    LEXINGTON, Mass., Feb. 19, 2025 (GLOBE NEWSWIRE) — Mimecast, a global cybersecurity leader transforming the way businesses manage and mitigate human risk, announced today the appointment of Adenike (Nikki) Cosgrove as Chief Marketing Officer.

    Drawing on more than twenty years of cybersecurity experience, Nikki will lead Mimecast’s global marketing organization driving strategic growth and positioning in new and existing markets to further establish Mimecast as the clear industry leader in Human Risk Management.

    Nikki brings a wealth of expertise to Mimecast. She joins the organization from Proofpoint (following their 2016 acquisition of Return Path Email Fraud Protection), where she spent more than nine years, most recently as regional CMO for EMEA, leading product and strategic marketing operations.

    An accomplished cybersecurity executive, Nikki’s expertise spans the spectrum of product and business strategy including growth marketing, strategic communications, analyst relations, and competitive intelligence. Prior to Proofpoint, Nikki worked as lead EMEA advisor to security and risk professionals for Forrester Research and Canalys, where she developed a deep understanding of CISO challenges and helped clients with their information and cybersecurity strategies.

    “Nikki’s expertise in our sector, coupled with her strategic leadership, business acumen and marketing pedigree, perfectly positions her to lead Mimecast’s marketing organization as we cement our reputation as industry leader in Human Risk Management,” said CEO, Marc van Zadelhoff. “The last year at Mimecast has been marked by innovation and strategic growth, including three industry-shaping acquisitions and global expansion. Nikki is joining us at an incredibly exciting time for the business and will play a key role in how we take this momentum forward across our global markets.”

    Nikki holds a Bachelor of Engineering degree from the University of Hull and a Master of Research, Telecommunications, from University College London. Nikki has lived in Japan, Hong Kong, Zimbabwe, and Nigeria, and currently resides in London.

    “As the threat landscape evolves and cybercriminals increasingly target individuals, securing human risk has never been more critical,” said Nikki Cosgrove. “I’m excited to step into the role of Chief Marketing Officer and apply my experience to accelerate Mimecast’s momentum, strengthen our market leadership, and drive strategies that deliver even greater value to our customers worldwide.”

    To learn more about Mimecast visit here.

    About Mimecast

    Mimecast is a leading cybersecurity company transforming the way businesses manage and mitigate human risk. Its AI-powered, API-enabled connected Human Risk Management platform is purpose-built to protect organizations from the spectrum of cyber threats. Integrating cutting-edge technology with human-centric pathways, our platform enhances visibility and provides strategic insight that enables decisive action and empowers businesses to protect their collaborative environments, safeguard their critical data and actively engage employees in reducing risk and enhancing productivity. More than 42,000 businesses worldwide trust Mimecast to help them keep ahead of the ever-evolving threat landscape. From insider risk to external threats, with Mimecast customers get more. More visibility. More insight. More agility. More security.

    Mimecast is either a registered trademark or trademark of Mimecast Services Limited in the United States and/or other countries. Proofpoint is a registered trademark of Proofpoint, Inc. in the United States and other countries.   All other third-party trademarks and logos contained in this press release are the property of their respective owners.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5230c472-fe83-4608-a7a3-a314fe8e701e

    The MIL Network

  • MIL-OSI Economics: Secretary-General of ASEAN meets with Commander of the US Pacific Fleet

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with Admiral Stephen Koehler, Commander of the US Pacific Fleet, at the ASEAN Headquarters/ASEAN Secretariat. The two sides exchanged views on the cooperation between ASEAN and the US, notably in the area of maritime security. Dr. Kao welcomed the US commitment to advancing defence cooperation with ASEAN, among other things.

    The post Secretary-General of ASEAN meets with Commander of the US Pacific Fleet appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI Economics: Ambassador of New Zealand to ASEAN presents Letter of Credence to the Secretary-General of ASEAN

    Source: ASEAN

    JAKARTA, 19 February 2025 – Ambassador Joanna Jane Anderson presented her Letter of Credence as Ambassador of New Zealand to ASEAN to the Secretary-General of ASEAN, Dr. Kao Kim Hourn, at the ASEAN Headquarters/ASEAN Secretariat today.

    Secretary-General Dr. Kao congratulated Ambassador Anderson on her assumption of office and reaffirmed ASEAN’s commitment to further strengthening relations with New Zealand. He highlighted the significance of Ambassador Anderson’s tenure as ASEAN and New Zealand are preparing for the Commemorative Summit to mark the 50th Year of ASEAN-New Zealand dialogue relations in November 2025, in Kuala Lumpur, Malaysia. The Secretary-General also acknowledged New Zealand’s steadfast support for ASEAN Community-building efforts, and its active participation in ASEAN-led mechanisms.

    Ambassador Anderson thanked Secretary-General Dr. Kao for the warm welcome. She was honoured to assume the role as Ambassador of New Zealand to ASEAN during a significant period for the ASEAN–New Zealand partnership, which celebrates its 50th anniversary this year. She looked forward to working with ASEAN Member States and the ASEAN Secretariat in further strengthening New Zealand’s ties and cooperation with ASEAN during her term of office.

    Ambassador Anderson succeeds Ambassador Stuart Donald Cave Calman, who completed his tenure on 24 January 2025.

    The post Ambassador of New Zealand to ASEAN presents Letter of Credence to the Secretary-General of ASEAN appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI Economics: Secretary-General of ASEAN meets with the Chairman of the Singapore Institute of International Affairs

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with Chairman of the Singapore Institute of International Affairs (SIIA) Associate Professor Simon Tay, at the ASEAN Headquarters/ASEAN Secretariat. They discussed the preparations for the 2nd ASEAN Think Tanks Summit, and also exchanged views on regional and global issues.

    The post Secretary-General of ASEAN meets with the Chairman of the Singapore Institute of International Affairs appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI United Kingdom: expert reaction to study looking at genetic and lifestyle factors, and premature death, ageing and age-related diseases

    Source: United Kingdom – Executive Government & Departments

    A paper published in Nature Medicine looks at the contribution of genetic and lifestyle factors to risk of premature death, ageing, and age-related diseases. 

    Prof Felicity Gavins, Professor of Pharmacology at Brunel University of London, and Royal Society Wolfson Fellow, said:

    “This is an exciting study.  The fact that most of the risk factors identified are modifiable highlights an enormous opportunity for prevention.  By addressing social inequalities, promoting healthy behaviours and reducing harmful exposures, we can really make a meaningful difference in reducing age-related diseases and premature mortality.

    “However, some caution is needed.  This is an observational study, so further research is needed to confirm causal relationships, especially before any long-term policy changes are made.  Furthermore, targeted interventions will be essential to translating these findings into real-world impact.”

    Dr Stephen Burgess, Group Leader at the MRC Biostatistics Unit, University of Cambridge, said:

    “This is a large and detailed investigation into the predictors of major causes of mortality in a UK-based population.  It provides further demonstration supporting previous research that, in the majority of cases, our genes do not determine our future.  There are exceptions, including rare conditions that are caused by a single genetic variation.  But for the majority of conditions that Western people die from, disease risk is more strongly attributable to modifiable risk factors and our wider environment, as shaped by our upbringing and choices.  Genetics can load the dice, but it is up to us how we play our hand.

    “A limitation of the work is that it does not highlight particular risk factors, nor can it make specific causal claims about what would happen if we changed our risk factors and environment.”

    Prof Frances Flinter, Emeritus Professor of Clinical Genetics, Guy’s and St Thomas’ NHS Foundation Trust; and Member of the Nuffield Council on Bioethics, said:

    “This is a very impressive, thorough and detailed analysis of a vast amount of genetic and non-genetic data from the UK Biobank.  The authors compare the relative contributions to ageing and premature mortality of genetic susceptibility markers (polygenic risk scores) and environmental factors, which they refer to as the ‘exposome’ (including alcohol, diet, smoking, housing, type of heating, weight in childhood etc).

    “Overall, polygenic risk scores (PRS) for twenty-two major diseases explained less than 2% of additional variation in mortality, whereas the exposome explained 17%.  In particular, the exposome explained a greater proportion of the variation than polygenic risk scores for the incidence of disease of the lung, heart and liver, whereas polygenic risk scores explained a greater proportion of the variation than the exposome for dementia and breast, prostate and colorectal cancers.

    “The risk of premature mortality was lower in Black, Asian and ethnicities other than white, even after adjustment for socio-demographic deprivation factors, which is currently unexplained.

    “With so much focus on genetic determinism these days, it is good to be reminded of the significance of environmental contributions to health, particularly as the risk factors are known and many can be modified.”

    Prof Ilaria Bellantuono, Professor in Musculoskeletal Ageing; and Co-Director of The Healthy Lifespan Institute, University of Sheffield, said:

    “This important study comprehensively confirms what smaller studies have suggested: multiple socioeconomic and environmental factors significantly influence the risk of developing age-related diseases.  More critically, it highlights that health is shaped by multiple interacting factors.  This has important policy implications, meaning that policies targeting only one or two of these factors will have limited impact on extending healthspan.  The findings support the need for an integrated, multi-faceted approach to prevention and to identify the most influential domains for intervention (smoking, socioeconomic status and deprivation, physical activity, sleep and mental and physical wellness including tiredness, as well as early life exposures including height and body size at 10 years and maternal smoking around birth).

    “The study is rigorously conducted and transparently acknowledges its limitations, which are inevitable in research of this nature.”

    Dr Julian Mutz, King’s Prize Research Fellow at the Social, Genetic & Developmental Psychiatry Centre, King’s College London, said:

    “The study by Argentieri, van Duijn, and colleagues sought to tease apart the relative contributions of environmental exposures (termed the “exposome”) and genetic risk on biological ageing and premature mortality.

    “The authors analysed data from the UK Biobank, a unique resource with a wealth of information on sociodemographic characteristics, health records, genetics and biomarker data from half a million UK residents.

    “They employed a complex analytical design to identify environmental exposures that were independently associated with biological ageing (defined using a proteomic ageing clock that they developed in a previous high-profile study) and mortality, while minimising the risk of reverse causation, confounding and correlation between exposures.  The approach is elegant, though certain assumptions warrant caution.  For example, the finding that many exposures independently associated with mortality (e.g., diet or mental health) were not associated with the proteomic ageing clock (or had an association in the opposite direction) does not necessarily mean that these exposures do not impact ageing biology.

    “Key findings from the study were that a higher income, Asian or Black ethnic background, higher levels of physical activity and living with a partner were associated with lower mortality risk and a protein-predicted age younger than chronological age.  Smoking, living in council housing (reflecting socio-economic status) and the frequency of feeling tired were associated with higher mortality risk and a protein-predicted age older than chronological age.

    “Each of the 25 independent exposures that the authors identified was associated with incident diseases and ageing biomarkers.

    “To investigate the relative contribution of the environmental exposures compared to genetics, the authors calculated polygenic scores for 22 diseases.  Polygenic scores aggregate the small effects of many common genetic variants to estimate an individual’s predisposition to specific traits or diseases.  However, there are several caveats to this approach: first, polygenic scores only capture part of the genetic risk; and second, many environmental exposures also have a genetic component.  The broad headline of the press release that “environmental factors affect health and ageing more than our genes” should be viewed in light of these limitations.

    “One of the most interesting findings from this study is the comparison of the contributions of chronological age and sex (both non-modifiable risk factors), environmental exposures and polygenic scores across several disease endpoints.  For example, for certain diseases (e.g., dementia), genetics appears to be more important.

    “A key implication of the study is that there is a broad range of modifiable risk factors that could be targeted to reduce the risk of premature mortality and age-related disease.  How successful this will be remains to be seen.  We already know much about the health-promoting effects of lifestyle interventions, such as physical activity and smoking cessation, but a significant intention–behaviour gap remains.

    “The authors have, for the most part, carefully highlighted that the observed associations may not be causal.”

    Prof Kevin McConway, Emeritus Professor of Applied Statistics, Open University, said:

    “This new study involves a large dataset, using data from almost half a million participants in the UK Biobank, data on 164 different environmental exposures (using ‘exposure’ in the broad epidemiologists’ sense, from smoking and intake of various foods, to how plump they were at age 10, to their ethnicity) and (for some of them) genetic and blood measures too.  It’s big data, and the researchers use some big-data methods.

    “The aim was to quantify the contributions of environmental exposures and genetics to aging and premature mortality, taking into account many aspects of people’s environment rather than concentrating on a few risk factors determined in advance.

    “The results are interesting, and I think they do support the researchers’ view that we can learn more by looking at many environmental exposures together rather than trying to pick them off one (or a few) at a time.  However, there are some important limitations (as the researchers make clear).

    “It would be easy to dismiss this new research by saying that all they have really found is that, if you want to be healthy in old age, you need to give up smoking, do some exercise and not be poor, and we already knew that.  But that’s not (in my view) the important finding at all.  The important finding is that you get more by looking at more aspects of the environment, if you have enough good data to do that – but that needs careful statistical analysis, including aspects that this study could not do itself.  However I think there are good reasons not to pay too much attention to the exact numerical results in the paper, for reasons I’ll come to.

    “This is an observational study – the UK Biobank researchers did not choose how the participants acted, but only observed and recorded what they said and did.  Like all observational studies, the findings are about correlations and associations, not about cause and effect.  The statistical methods used by the researchers can’t determine whether the associations between exposures and ill health and mortality, that they observed, are there because the exposures cause the ill health and mortality.  They might, or they might not.

    “The way the researchers filtered out exposures that might have showed up as associated with ill health only because they were correlated with other exposures, or because the exposure was actually caused by ill health (reverse causation, as it’s called), does to some extent make it a bit more likely that the associations they mainly report on are ones of cause and effect – but they certainly can’t confirm that they are cause and effect.  The researchers say, in their conclusion, that their results indicate that interventions based on environmental exposures are possibly (my emphasis) the best starting point for improving age-related health, but they add that “future causal modelling [that is, research that specifically looks at cause and effect, which uses different methodology] will be needed to study specific exposures of interest.”

    “In view of these issues about cause, it’s unfortunate that the press release uses a lot of language that implies the associations are indeed reflecting cause and effect.  They talk about the impact of environmental factors on mortality and aging.  If something isn’t causing the ill health, ‘impact’ is the wrong word – if you change a factor that is correlated with ill health but doesn’t cause it, you won’t change the level of ill health.

    “And when the release says that environmental factors explained 17% of the variation in risk of death, compared to less than 2% for genetic predisposition, this is presenting a misleading picture of what is reported in the research paper.  The paper talks about additional mortality variation (in addition to the variation explained by age and biological sex, which are the most important factors, unsurprisingly, along with smoking).  And in this context, statisticians are using ‘variation explained’ to mean something statistically technical that has nothing direct to do with cause and effect, even though it sounds as if it does.

    “There are other important limitations.  The UK Biobank population isn’t typical of the general UK population.  And the exposures were all measured at only one time point, when people first entered the UK Biobank study.  Therefore, even though the UK Biobank is a major study that goes on through time, these findings can’t, for instance, look at the impact on ill health if someone gives up smoking, or becomes wealthier, or changes what they eat.  The researchers emphasise the importance of studying what leads to ill health across the life course, not just at one or a few time points, but like most studies using UK Biobank data, they could not actually do that in this study, beyond looking at some things that participants said about their childhood when they entered the study.

    “There is no implication that the 25 independent environmental factors that were identified in this research are the most important environmental factors, or the only important ones.  The filtering process that removed factors that might have been correlated to strongly with other factors, or might have been liable to reverse causation, may have removed some that were in fact important to health.  (I’m not saying that they should not have been removed, in the light of the overall aims of this study – just that removing them could have led to something being missed.)

    “And obviously the researchers could only take into account environmental exposures that were recorded in the UK Biobank data, and that’s not everything.  The early life exposures, mentioned in the press release and the paper as being important, were actually recorded alongside all the others when people entered the study, so based on what they recalled, and not actually followed up over time.

    “Ideally in a study like that using a big and complicated data set, researchers would model the data statistically using just part of the data set, and then check with the rest of the data set whether the findings hold and are not just a statistical fluke.  These researchers did that, splitting the data on English UK Biobank participants into two and checking the results from one half on the other half, and then checking several aspects of the statistical modelling by validating the results on data from UK Biobank participants in Scotland and Wales.  That’s good, but not ideal, because the Scottish and Welsh participants are likely to be too similar to the English participants to give an independent enough validation.

    “It’s interesting that the research paper says that they sought to validate the findings using a different study based in Rotterdam, which would have been much better than the Scottish and Welsh UK Biobank data.  But they could not do that because the Rotterdam study did not have enough recorded environmental exposures that matched those in the UK Biobank.  They point out that this is likely to be a more widespread problem, because there’s no standard way across different studies of this kind to choose which exposures to record, or how to define them.

    “I have to say that I personally wouldn’t pay too much attention to any of the exact figures on associations that are given in the paper.  That’s partly because of the limitations I’ve mentioned (and the researchers give more limitations in the paper).  But it’s mainly because the data set is big and complicated, and the statistical methods used involved many stages and are complicated.  The researchers had to make a long series of choices on which data to analyse and how to analyse it.  Another team of researchers would not have made the same choices in each case.  That doesn’t mean that this team is wrong and another team would be right – just that there often isn’t a clear best choice to be made.  And other choices would have led to different findings, in terms of the detailed numbers at least.

    “Statisticians sometimes refer to the series of choices of how to analyse a data set, not entirely seriously, as ‘researcher degrees of freedom’.  This study has a lot of researcher degrees of freedom.  The researchers did check out some of their choices by carrying out sensitivity analyses, but that doesn’t get near to dealing with every choice they had to make.  If time and money were no object, it would be very interesting to see what a different research team made of the same data – but in the real world, that’s not going to happen.

    “One final point about the press release.  It says that 23 of the 25 independent environmental factors, identified in the research as contributing to the association between environmental exposure and ill health, ‘are modifiable’.  The research paper says only that they are potentially modifiable.  This sounds like a nit-pick, and maybe it is – but look at the factors (in Figure 2d in the paper, which shows the 25 along with age and biological sex).  Smoking is modifiable, even if it can be hard for individuals to make that modification.  But for some of the others it’s not easy to see what the modification might be.  How do you modify things so that you are living with a partner, if you currently aren’t?  (Living with a partner is associated with better health.)  How do you modify how often you feel fed up, or how often you feel unenthusiastic?  These potential modifications could maybe be done, but saying they are ‘modifiable’ is too much of a simplification.  And it’s certainly important to understand that modifying some of them would be possible only by changes in society – it’s not just a question of individuals choosing what to do.  (It also bears repeating that this study, because of the issues about cause and effect, can’t actually tell us with any certainty whether modifying these facts would actually change health anyway.)”

    Dr Divyangana Rakesh, Lecturer and Researcher in the Department of Neuroimaging, Institute of Psychiatry, Psychology & Neuroscience, King’s College London, said:

    “This study makes clear just how much our environment shapes aging and mortality, and it is not surprising that environmental risk often outweighs genetic risk.  The authors used a rigorous approach to show that while genetics play a role in specific diseases, our environment – from socioeconomic status to lifestyle factors – shapes overall health trajectories in powerful ways.  We see this in developmental research as well, where environmental factors, including socioeconomic status and deprivation, play a crucial role in shaping children’s outcomes.  Findings like these reinforce the urgent need to address environmental determinants of health if we want to support healthy development and aging for everyone.”

    Prof Joyce Harper, Head of the Reproductive Science and Society Group, UCL Institute for Women’s Health, UCL, said:

    “This extensive study systematically examined environmental factors linked to aging using data from the UK Biobank.  The researchers conducted an exposome-wide analysis of all-cause mortality in a cohort of 492,567 individuals and investigated how these exposures influenced a proteomic age clock.  Their findings identified 25 independent environmental factors associated with both mortality risk and proteomic aging.

    “It is so great to see this brilliant study from Oxford Population Health.  In today’s society, so many are trying to get a quick fix to improve health and longevity, but this study and others are showing the importance of our lifestyle and environment on healthy aging.  It is the first study to show how the combined effect of individual exposures affects us through the life course.  I hope people are listening.”

    ‘Integrating the environmental and genetic architectures of aging and mortality’ by M. Austin Argentieri et al. was published in Nature Medicine at 10.00am UK time on Wednesday 19 February 2025.

    DOI: 10.1038/s41591-024-03483-9

    Declared interests

    Prof Felicity Gavins: “No conflicts.”

    Prof Frances Flinter: “No CoI.”

    Prof Ilaria Bellantuono: “I am funded by the Michael J Fox Foundation, Dunhill Medical Trust.  I co-lead UkAgeNet (https://ukagenet.co.uk/ ) and I am co-director of the Healthy Lifespan Institute.”

    Dr Julian Mutz: “I report no conflicts.”

    Prof Kevin McConway: “Previously a Trustee of the SMC and a member of its Advisory Committee.”

    Dr Divyangana Rakesh: “I have no conflicts of interest to declare.”

    Prof Joyce Harper: “No conflicts. I am writing a book on health and happiness over 50 but I do not think that conflicts.”

    For all other experts, no reply to our request for DOIs was received.

    MIL OSI United Kingdom

  • MIL-OSI: Broctagon Partners with Level2 to Simplify Strategy Creation for AXIS CRM Brokers

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 19, 2025 (GLOBE NEWSWIRE) —

    Level2 and Broctagon Partner to Bring No-Code Automated Trading to Brokers Using AXIS CRM
    This innovative collaboration aims to simplify the strategy creation process for brokers and all their traders currently using Broctagon’s AXIS CRM platform.

    Level2’s intuitive no-code EA solution allows traders of all experience levels to easily create, deploy, and automate strategies using a fully visual, drag-and-drop approach. This no-code approach eliminates the need for technical expertise, enabling traders to configure strategies, analyse performance, and execute trades with ease. By integrating Level2’s capabilities, brokers utilising Broctagon’s AXIS CRM – known for its multi-tier IB module, prop trading features, and API app marketplace – will now be able to offer their traders cutting-edge automated trading tools that drive engagement and unlock greater market potential.

    Key Features for Active Traders:

    • No-Code, Visual Strategy Creation: Level2’s platform allows traders to configure and deploy strategies through an intuitive interface, without any coding skills required.
    • Real-Time Backtesting: Traders can instantly test their strategies using historical data, gaining valuable insights to optimise performance and make data-driven decisions in real time.
    • Seamless Analysis to Execution: With Level2’s visual tools, traders can connect market insights directly to execution, streamlining the entire trading process for increased efficiency.
    • Collaborative Social Trading: Level2 introduces a community-driven approach to trading, where users can share, follow, and collaborate on strategies, enhancing engagement and empowering traders of all skill levels.

    “Broctagon is a forward-thinking organisation that prioritises innovation. Through this partnership, we’ve created a solution that will make technical analysis and fully automated trading more accessible than ever before, giving Axis CRM brokers a competitive edge to captivate traders and drive demand” — Andrew Grevett, Co-founder & CEO of Level2. “Algorithmic trading has traditionally been reserved for those with coding expertise, creating a barrier for many traders. Level2’s no-code EA builder removes that barrier, revolutionising the way traders of all skill levels access and implement automated strategies. By partnering with Level2, Broctagon reinforces its commitment to innovation, empowering all AXIS FX CRM brokers with cutting-edge automation tools that drive engagement, retention, and trading volume” — Don Guo, Founder & CEO of Broctagon

    About Level2
    Level2 is a pioneering technology company focused on transforming the way active traders engage with financial markets. Through its intuitive, fully visual platform, Level2 simplifies strategy creation and automation for traders of all experience levels, eliminating the need for complex coding or technical expertise. With a commitment to innovation and accessibility, Level2 is helping shape the future of active trading by making professional-grade tools available to a broader audience, driving smarter, more efficient trading.

    About Broctagon Fintech Group
    Broctagon Fintech Group is a leading multi-asset liquidity and FX technology provider headquartered in Singapore, with over 15 years of global presence in Hong Kong, Malaysia, India, Cyprus, Thailand, and China. We specialize in performance-driven, bespoke solutions, serving over 350 clients in more than 50 countries with our liquidity aggregator technology, brokerage and prop trading solutions, and enterprise blockchain development.

    Users can experience Level2 now or contact us to arrange a personalised demonstration.

    Contact

    Co-founder & CEO
    Andrew Grevett
    Level2
    andrew@trylevel2.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fe7bd9b0-2951-46f0-b696-453b6ae50c34

    The MIL Network

  • MIL-OSI China: China’s science foundation receives 500-mln-yuan donation to aid young researchers

    Source: China State Council Information Office 2

    The National Natural Science Foundation of China has accepted a 500-million-yuan (about 69.7 million U.S. dollars) donation to fund basic research led by young PhD researchers.
    The donation will focus on supporting women grantees as well as those from western regions and the Guangdong-Hong Kong-Macao Greater Bay Area.
    According to Dou Xiankang, head of the foundation, the voluntary donation was made by Chinese tech giant Tencent, which owns the all-in-one social media app WeChat. The grant responds to the nation’s call for bolstering fundamental research.
    Dou said the two sides would work together to further strengthen talent cultivation, project funding, and international cooperation, setting an example to attract more high-tech enterprises and social resources to scientific research.
    The foundation is a major source of China’s scientific research funding, providing competitive grants to scientists committed to basic research. In recent years, it has explored more avenues to ensure the long-term development of scientific funding.

    MIL OSI China News

  • MIL-OSI New Zealand: Lifestyle – Exercise Industry Set for Significant Growth in 2025 Despite Economic Headwinds

    Source: Exercise NZ

    Despite ongoing economic pressures, a new consumer survey by ExerciseNZ reveals a promising outlook for New Zealand’s exercise industry. Conducted by Horizon Research for the past five years, the survey polled New Zealand adults nationwide and highlights a growing interest and uptake in physical activity and structured exercise, presenting significant opportunities for industry growth in 2025.

    The survey, conducted in late 2024, is set for release in February 2025.

    Richard Beddie, CEO of ExerciseNZ, notes that while economic challenges often impact discretionary spending, exercise remains a priority for many Kiwis. “People increasingly recognise the benefits of regular exercise—not just for physical health but also for mental wellbeing and resilience. Even in times of financial uncertainty, we see continued demand for exercise services, highlighting the industry’s resilience and growth potential,” says Beddie.

    Key Findings from the Consumer Report:

    Strong Intent to Start Exercise

    Over a quarter of a million (309,000) adults plan to begin structured exercise in 2025.
    10% of adults are considering joining a structured exercise provider in the next 12 months.

    Increased Use of Exercise Professionals

    28% of adults (1,075,000 people) pay for one-on-one exercise professionals—a 6% increase from 2023.
    15% (595,000 people) see an exercise professional weekly, up 4%.
    8% of non-users (309,000 adults) plan to start, indicating 30% growth potential.

    High Value Placed on Physical Activity

    98% of New Zealanders value physical activity.
    Top reasons: health benefits (76%), mental health (64%), and feeling good (61%).

    Shift in Exercise Preferences

    67% of adults exercise, up from 64% in 2023—defying the trend of declining physical activity.
    22% (866,000 people) use structured providers, with 12% in group classes and 14% training individually.
    Small gyms/studios and recreational facilities (both 11%) are growing, while large gyms saw a slight decline (14%).

    Despite economic challenges and cost-of-living pressures, the survey shows that New Zealanders are prioritising their health and well-being, with a strong intent to increase physical activity. The exercise industry is well-positioned to capitalise on this trend by offering flexible, affordable, and varied exercise options to meet consumer needs.

    Beddie adds, “The findings from this year’s survey are incredibly encouraging. Despite economic challenges, New Zealanders want to exercise more and see the value in professional guidance and structured programs. This presents a significant opportunity for the industry to grow and adapt to evolving consumer needs.”

    As the industry gears up for a dynamic year ahead, ExerciseNZ remains committed to supporting exercise professionals, facility operators, and the wider exercise community in navigating growth opportunities while maintaining high service standards and accessibility for all New Zealanders.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Economy – OCR 3.75% – OCR reduced further as inflation abates – Reserve Bank of NZ

    Source: Reserve Bank of New Zealand

    19 February 2025 – Annual consumer price inflation remains near the midpoint of the Monetary Policy Committee’s 1 to 3 percent target band. Firms’ inflation expectations are at target and core inflation continues to fall towards the target midpoint. The economic outlook remains consistent with inflation remaining in the band over the medium term, giving the Committee confidence to continue lowering the OCR.

    Economic activity in New Zealand remains subdued. With spare productive capacity, domestic inflation pressures continue to ease. Price and wage setting behaviours are adapting to a low-inflation environment. The price of imports has fallen, also contributing to lower headline inflation.

    Economic growth is expected to recover during 2025. Lower interest rates will encourage spending, although elevated global economic uncertainty is expected to weigh on business investment decisions. Higher prices for some of our key commodities and a lower exchange rate will increase export revenues. Employment growth is expected to pick up in the second half of the year as the domestic economy recovers.

    Global economic growth is expected to remain subdued in the near term. Geopolitics, including uncertainty about trade barriers, is likely to weaken global growth. Global economic activity is also likely to remain fragile over the medium term given increasing geoeconomic fragmentation.

    Consumer price inflation in New Zealand is expected to be volatile in the near term, due to a lower exchange rate and higher petrol prices. The net effect of future changes in trade policy on inflation in New Zealand is currently unclear. Nevertheless, the Committee is well placed to maintain price stability over the medium term. Having consumer price inflation close to the middle of its target band puts the Committee in the best position to respond to future inflationary shocks.

    The Monetary Policy Committee today agreed to lower the Official Cash Rate by 50 basis points to 3.75 percent. If economic conditions continue to evolve as projected, the Committee has scope to lower the OCR further through 2025.

    Read the full statement and Record of meeting: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=06d3058d74&e=f3c68946f8

    MIL OSI New Zealand News

  • MIL-OSI Economics: Spam and phishing in 2024

    Source: Securelist – Kaspersky

    Headline: Spam and phishing in 2024

    The year in figures

    • 27% of all emails sent worldwide and 48.57% of all emails sent in the Russian web segment were spam
    • 18% of all spam emails were sent from Russia
    • Kaspersky Mail Anti-Virus blocked 125,521,794 malicious email attachments
    • Our Anti-Phishing system thwarted 893,216,170 attempts to follow phishing links
    • Chat Protection in Kaspersky mobile solutions prevented more than 60,000 redirects via phishing links from Telegram

    Phishing and scams in 2024

    Phishing for travelers

    In 2024, cybercriminals targeted travel enthusiasts using fake hotel and airline booking websites. In one simple scheme, a fraudulent site asked users to enter their login credentials to complete their booking — these credentials ended up in criminal hands. Sometimes, the fake login form appeared under multiple brand names at once (for example, both Booking and Airbnb).

    Another scheme involved a more sophisticated fake site, where users could even select the purpose of their trip (business or leisure). To complete the booking, the scammers requested bank card details, claiming that a certain sum would be temporarily blocked on the account to verify the card’s authenticity. Legitimate booking services regularly request payment details, so the victim may not suspect anything in this case. To rush users into entering their data carelessly, on the phishing page, the scammers displayed warnings about dwindling accommodation availability and an imminent payment deadline for the booking. If the victim entered their data, the funds were not frozen but went straight into the criminals’ pockets.

    Cyberthreats in the travel sector affected not only tourists but also employees of travel agencies. By gaining access to a corporate account, criminals could conduct financial transactions on behalf of employees and gain access to large customer databases.

    Fake accommodation sites often sent messages to property owners, telling them to log in to “manage their property.” This scheme targeted people renting out their homes through online booking platforms.

    Other scam pages featured surveys, offering respondents gifts or prize draws for participating. In this case, victims risked both their credentials and their money. Such fake giveaways are a classic scam tactic. They are often timed to coincide with a significant date for the travel industry or a specific company. For example, the screenshot below shows an offer to take part in a giveaway of airline tickets to celebrate Ryanair’s birthday.

    After completing the survey, users may be asked to share the offer with a certain number of contacts, and then pay a small fee to receive the expensive gift. Of course, these prizes are non-existent.

    Trapped in social networks

    To steal credentials for social media and messenger accounts, scammers used another classic technique: asking users to verify themselves. In one scheme, the victim was redirected to a website that completely replicated WhatsApp’s design. The user entered their phone number and login code, handing their credentials straight over to the cybercriminals.

    Beyond verification scams, fraudsters also lured victims with attractive offers. For example, in the screenshot below, the victim is promised free Instagram followers.

    Some cybercriminals also used the promise of adult content to lure victims into entering their credentials in a fake authorization form.

    Other scammers took advantage of Facebook and Instagram being owned by the same company. On a fraudulent page, they claimed to offer a service that allowed users to find Instagram profiles by entering their Facebook login and password.

    Some scams offered users a surprise “gift” — a free Telegram Premium subscription. To enable the messenger’s premium features, the victim only had to enter their phone number and a one-time code on a fraudulent website.

    Some fake social media and messenger pages were designed not to steal login credentials but to install malware on victims’ devices. Taking advantage of the popularity of Facebook Lite for Android, scammers offered users a “more advanced official version”, claiming it had extra features missing in the original app. However, instead of an upgraded app, users downloaded malware onto their devices.

    Similarly, installing a supposedly free Telegram client with an activated Premium subscription often led to downloading malware.

    Social media business services were increasingly used as a pretext for credential theft, as they play a key role in developing and promoting businesses and are directly linked to financial operations. Cybercriminals tricked Telegram channel owners into logging in to a phishing platform imitating the official Telegram Ads tool, thereby stealing their Telegram credentials. To make the scam more convincing, the attackers detailed how Telegram advertising works and promised millions of ad views per month.

    TikTok users have also been targeted. TikTok Shop allows sellers to list curated products—items featured in videos—for potential buyers to find and purchase. Scammers created fake TikTok Shop pages to steal seller credentials, potentially leading to both reputational and financial damage.

    In another case, fraudsters informed Facebook fan page owners of unusual activity in their accounts. Potential victims were prompted to check their profile by entering their login credentials into a phishing form.

    Cryptocurrency: don’t mistake scams for real deals

    One of last year’s most sensational stories was the cryptocurrency game Hamster Kombat. This clicker game, simulating the creation of a crypto exchange in a gamified format, quickly attracted a massive audience. Players eagerly awaited the moment when the in-game coins could be exchanged for real virtual currency. But while the official listing was delayed, the fraudulent schemes wasted no time.

    Fraudsters claimed to offer cash-out services for in-game coins by converting them into rubles. To withdraw money, criminals claimed, users just had to log in through a fake Telegram page.

    The growing anticipation for the new cryptocurrency’s market launch was frequently exploited by cybercriminals to steal seed phrases from crypto wallets. Scammers announced an early token sale, requiring users to log in through a fake page to participate. Of course, there was no mention of such promotions on official resources.

    The popularity of Hamster Kombat was also abused in scam schemes. For example, users were offered access to a crypto wallet supposedly containing a significant sum in virtual coins. To claim it, the unsuspecting victims had to share information about the “opportunity” with a certain number of contacts in messaging apps. Having made their potential victim an accomplice in spreading false information, the scammers demanded a small commission for the withdrawal and disappeared with the stolen money.

    A more elaborate scam also aimed to trick users into paying a “commission”, but with a slightly different approach. First, visitors to the page were asked to register to learn about some new activity related to Hamster Kombat.

    Once registered, they were suddenly informed of having won a large amount of the HMSTR cryptocurrency supposedly as part of an experiment conducted on the platform. Exploiting uncertainty around the token’s listing, scammers urged victims to bypass the official trading launch and exchange their in-game currency for Bitcoin immediately.

    To make it more convincing, the page displayed an exchange rate at which the “prize” would be converted.

    However, after clicking the “Exchange coins” button, users were prompted to pay a commission for the service.

    Everyone who paid this fee lost their money and received no Bitcoin.

    Phishing attacks also targeted TON wallet users. In this case, scammers lured victims with promises of bonuses, requiring them to link their crypto wallets on fraudulent websites.

    TON cryptocurrency was also used as bait in scam schemes. In a classic scenario, users were promised a quick way to earn digital currency. Fraudsters advertised a cloud mining service that allegedly generated high profits without any effort. After registering, unsuspecting users could monitor their “earnings” but had to pay a commission in cryptocurrency to withdraw funds.

    Another “profitable” crypto scam resembled a Ponzi scheme: victims were required to recruit at least five new participants into the program—without receiving any money, of course. The scam site mimicked an online earning platform.

    Visitors were instructed to install Telegram and use an unofficial bot to activate a crypto wallet where profits would supposedly be deposited.

    According to the instructions, users then had to buy Toncoin and register in the program through a referral link from another participant. The scam worked by enticing people to make a small investment in the hopes of making big profits—the victims used their own funds to purchase the cryptocurrency for registration. But as with any pyramid scheme, only those at the top profited, while everyone else was left with nothing but empty dreams.

    All or nothing: multipurpose phishing

    Victims of phishing frequently included bank clients and users of government service portals. In such schemes, users first received a notification that they needed to update their account credentials. Cybercriminals used various communication channels to contact their victims: email, text messages, and chats in messaging apps. The victims were then led to fake sites where they were asked to provide their personal data. First, they entered their personal login credentials on the organization’s website.

    Next, they were prompted to provide their email account credentials. The scammers also attempted to collect identity document details and other data, including the bank card PIN code.

    Additionally, these phishing forms requested answers to security questions commonly used for additional verification in banking transactions.

    This way, the cybercriminals gained full access to the victim’s account. Even the PIN code could be useful for the scammers in gaining access to the account. Security questions served as an extra safeguard for fraudsters in case the bank’s security service detected suspicious activity.

    False idols

    Phishing schemes also exploited the images of real people. For example, users browsing YouTube could stumble upon ad videos of celebrities announcing giveaways for their fans. Clicking the link in such a video led users to a page containing a post supposedly from the celebrity’s social media account, explaining how to claim the prize. However, when attempting to collect the “winnings”, visitors were asked to pay a small commission—insignificant compared to the value of the “gift.” Needless to say, those who paid the fee lost their money. The prize never existed, and the video was nothing more than a deepfake.

    Spam in 2024

    Scams

    Token giveaway scam

    Throughout the year, we frequently encountered emails announcing fake cryptocurrency airdrops, allegedly from teams of well-known crypto projects. The recipients, referred to as the platform’s “most valuable users,” were invited to participate in an “exclusive” event as a thank you for their loyalty and exceptional engagement.

    New users unfamiliar with cryptocurrency were lured in with a unique opportunity to take part in the token giveaway and win a large sum—all they had to do was register on the platform, which was, of course, fake.

    Scammers in 2024 closely monitored cryptocurrency market news. For example, in the spring, ahead of Notcoin’s upcoming listing, scam messages appeared featuring countdown timers, urging potential victims to participate in an airdrop allegedly arranged just for them.

    Scam emails also targeted users of the cryptocurrency game Hamster Kombat, popular among Russian-speakers. Players eagerly awaited the HMSTR token listing, which was repeatedly postponed—a delay that scammers were quick to exploit. In the fall of 2024, they began sending emails pretending to be from the Hamster Kombat team, promising generous cash prizes if victims clicked a link to a fake game site.

    Similar offers were distributed via a fraudulent website mimicking a major cryptocurrency exchange. In both cases, to claim the coveted tokens, victims had to link their cryptocurrency wallets.

    “Nigerian” scam

    In 2024, the Nigerian scam remained popular among spammers. Furthermore, fraudsters used both time-tested and trending themes to deceive victims. Cybercriminals employed various tricks and manipulations to engage with email recipients, with the ultimate goal of extracting money.

    Most often, users were lured into classic schemes: fraudsters posed as terminally ill wealthy individuals seeking a worthy heir, lottery winners eager to share their prize, or investors offering opportunities in a promising business. Sometimes, to evade suspicion, scammers “rescued” their victims from other fraudsters and offered to compensate them for any financial losses. For example, in the summer of 2024, we came across an interesting case where an alleged victim of crypto fraud suggested that fellow sufferers contact a group of noble hackers for help recovering lost cryptocurrency.

    Some scam offers were quite unexpected, as they didn’t promise vast riches, and, therefore, might not attract such a wide audience. In mid-to-late 2024, we saw scam emails claiming to be looking for new owners for pianos due to relocation or the previous owner’s passing.

    We also encountered even more creative scam narratives. For example, an email allegedly sent from a secret society of Illuminati promising to share their wealth, power and fame if the recipients agree to join their grand brotherhood.

    Other “Nigerian” scam emails capitalized on current news events. Thus, the most talked-about event of 2024, the US presidential election, significantly influenced the types of scams we saw. For example, one scam email claimed that the recipients were incredibly lucky to be eligible to receive millions of dollars from Donald Trump’s foundation.

    Scam in the Russian segment

    Last year, the Russian segment of the internet was not spared from mass scam mailings. We frequently encountered schemes mimicking investment projects of major banks, promising users easy earnings and bonuses. Fraudsters also sent out emails with promotional offers from home appliance and electronics stores. Customers were informed of huge discounts on sales that were supposedly about to end.

    The links in such emails led to fraudulent websites that looked identical to legitimate online stores but stood out with extremely low prices. After paying for their desired items, customers lost their money, as orders were never actually placed.

    Beyond electronics, scammers also offered other discounted products. In one such campaign, users received an email advertising a sneaker store selling popular models at affordable prices.

    Judging by the technical headers of the emails, both the sneaker store and electronics store promotions were sent by the same fraudsters.

    Additionally, we came across emails offering recipients to apply for debit or credit cards under favorable conditions. Unlike the electronics and shoe sale scams, these messages were legitimate referral programs from major banks, which enterprising spammers tried to monetize. Technically, such emails are not scams, as their links lead to real banking websites, and recipients do not face any risks. However, senders profit from registrations via the referral program. Nevertheless, we do not recommend clicking links from unknown senders, as seemingly harmless emails from a referral platform could be phishing or scam messages.

    Password-protected archives

    In 2024, there was an increase in emails distributing password-protected archives containing malicious content. Sometimes, these files were included not as attachments but via download links, which also required a password. Presumably, this was the attackers’ attempt to bypass email security filters. Typically, the archive password was mentioned in the email text, and sometimes in the attachment’s filename. Notably, fraudsters often disguised malicious archives or links as files with other extensions, such as PDF, XLS, or DOC.

    Since April 2024, we have been recording similar distributions of files with the double extension .PDF.RAR, targeting employees of Russian companies in the government, financial, manufacturing, and energy sectors.

    We assume that these messages were sent from compromised email accounts of the recipients’ business partners. Some emails contained real correspondence, to which attackers replied with an email containing the malware. All the emails we examined in this campaign were unique. The attackers likely crafted messages to closely mimic the style of the compromised business partner.

    Similar messages containing malicious files were also found in other languages. However, unlike campaigns targeting Russian-speaking users, these had more general themes—attachments were disguised as invoices, commercial offers, supply orders, tender schedules, court notices, and other documents.

    Pre-trial claims and lawsuits

    Last year, attackers frequently threatened legal action to convince victims to click dangerous links or open malicious attachments. These messages primarily targeted Russian companies but were also observed in other languages. Typically, fraudsters posed as business partners, demanding debt repayment; otherwise, they “would be forced to take the matter to arbitration court.” In one such campaign, pre-trial claims in attachments were .DOC files containing VBA scripts. These scripts established connections with command servers and downloaded, saved, and executed malicious files on the victim’s device. Kaspersky’s products detect this payload with the verdict HEUR:Trojan-Downloader.MSOffice.Sload.gen.

    In some cases, cybercriminals gave no reason for their legal threats but instead attempted to shock victims with an already “filed” lawsuit to pressure them into opening the attachment. Of course, it contained malware.

    Emails with malicious SVG files

    According to our observations, the past year saw a rise in the distribution of malicious SVG files. Disguised as harmless images, these files contained scripts that downloaded and installed additional malware on the victim’s device. (Our solutions detect these scripts as Trojan.Script.Agent.sy and Trojan.Script.Agent.qe.) The emails we encountered were written in Spanish and posed as fake legal case notifications and court summons. The text included a password for opening the attached file.

    Threats to businesses

    Fake deals

    A special category of emails that users complained about in 2024 was requests for quotation from suspicious senders. These emails were sent either from free email addresses or recently created domains. Attackers signed the emails with the names of large companies, included links to their websites, and sometimes even used official company logos. These emails followed a uniform template: the “buyers” briefly introduced themselves, expressed interest in the recipient’s products, and requested a catalog or price list. Interestingly, the fraudsters did not seem to care about the type of goods involved.

    If the recipient responded, events could unfold in two ways. In some cases, after receiving a reply to the initial seemingly legitimate request, the fraudsters sent malicious attachments or links in the next email.

    In another scenario, the “buyers” engaged in further correspondence with their “potential partner”—the victim—discussing details and insisting on their conditions, including post-payment and requiring the seller to cover customs duties. This meant that the supplier bore all the risks of delivery and could lose their goods without receiving any payment.

    Facebook

    In the spring of 2024, we discovered an interesting phishing email scheme that leveraged legitimate Facebook notifications. The service sent entirely legitimate emails to users mentioned in threatening posts. The attackers used compromised Facebook accounts, renamed to “24 Hours Left To Request Review. See Why,” and changed the profile picture to an icon featuring an orange exclamation mark.

    Then, the fraudsters created posts on these pages tagging the business accounts of potential victims. The tagged users received notifications from the alarmingly-named pages.

    These posts contained more details than the emails: victims were warned about an impending account ban due to a complaint from another user. To dispute the ban for violating service terms, the recipient of the “notification” was required to follow a phishing link from the post—leading to a fake site with Meta logos that requested Facebook login credentials.

    We also found phishing emails containing legitimate Facebook links in October 2024, but this time without using the platform’s infrastructure. These emails contained notifications of lawsuits for copyright infringement and the removal of unlawful posts from the recipient’s profile. The target was warned that their personal and business pages would be blocked within 24 hours, pressuring them to take hasty and careless action.

    However, they were immediately offered the chance to appeal by contacting the “Appeal Support Center.” The link in the email led to a phishing site disguised as Meta’s support service, where the victim was also asked to enter their profile password. To make the phishing link more convincing, a legitimate mechanism for redirecting users to external Facebook resources was used.

    At the end of 2024, we noticed an email campaign targeting companies promoting their business pages on Facebook. These emails mimicked official Meta for Business notifications and threatened to block the user’s account and business page for violating the platform’s rules and community policies.

    To dispute these accusations, the fraudsters urged the profile owners to click a link to contact “Facebook support” in a legitimate messenger. However, in reality, the victim was communicating with the owner of a fan page called “Content Moderation Center,” imitating an official support service employee. The scam could have been identified by the “Fan Page” label in the chat, though it was easy to miss.

    News agenda

    In 2024, scammers continued to exploit news agenda in spam campaigns.

    During the UEFA Euro 2024 football championship in Germany, emails began to appear offering merchandise with UEFA EURO 2024 logos.

    After Pavel Durov’s arrest in Paris, we noticed English-language messages calling for donations to supposedly fund his legal defense.

    In the fall of last year, a scam campaign began circulating, offering not-yet-released MacBook Pro M4 devices at low prices or even for free. The links in these emails led to fake websites imitating major marketplaces.

    Before Black Friday, we recorded a surge in spam offering exclusive discounts. The links in these messages lured victims to sites disguised as marketplaces, electronics stores, and financial institutions.

    B2B spam campaigns

    Online promotion services

    One of the most common categories of spam email in 2024, complained of frequently by our corporate clients, was commercial offers for online promotion. Users were offered services such as creating or redesigning websites, setting up SEO tools, and purchasing databases with potential client contacts and other information. Other advertised services included guest post placement with backlinks to the client’s site, writing positive reviews, removing negative reviews, and creating personalized email campaigns. While these messages are not malicious or fraudulent, they are mass-distributed and unsolicited, causing inconvenience to users. The popularity of this type of spam is likely driven by the development of digital marketing tools and the search for new clients for small- and medium-sized businesses amid growing online competition.

    Buying likes and followers on social media

    We also frequently encountered business offers for the online promotion of company accounts on social media. Spammers sell fake likes and followers. They often pose as employees of real social media marketing firms, claiming to be industry leaders. At the end of their emails, the spammers included a link to a marketing platform and payment options for their services. One such campaign, which we observed throughout the past year and is still active, stood out due to the variety of languages used in the emails and the diversity of domain names. With these tactics, the spammers aimed to reach a global audience.

    AI in B2B emails

    The growing popularity of neural networks has led companies to actively integrate AI into their business processes. We assume that clients of such organizations, in turn, are drawn to service offers that incorporate neural networks. As a natural consequence of this trend, AI-driven solutions began appearing in spam campaigns advertising online marketing services.

    Spammers emphasized using AI, particularly ChatGPT, to perform various business tasks. We identified the following themes in these emails:

    • Attracting website traffic
    • Creating advanced lead generation strategies
    • Developing unique approaches tailored to a brand’s identity
    • Producing and publishing content
    • Launching personalized multi-channel marketing campaigns
    • Creating custom videos for YouTube channels

    Other topics also appeared in spam emails, but they all shared the same goal—enhancing business processes and attracting potential clients.

    Another particularly popular category of spam related to neural networks was advertising online events. Last year, we encountered numerous examples of emails promoting webinars about the promising capabilities and practical applications of AI in business operations.

    Targeted phishing in 2024

    In 2024, two main trends were observed in targeted phishing:

    1. Notifications on behalf of a company’s HR department. Employees were asked to fill out or sign a document, such as a vacation schedule, accessible via a link in an email. Sometimes, instead of routine requests, attackers resorted to more extravagant tactics—such as inviting employees to check if they were on a list of staff to be dismissed.

    Phishing email from HR

    In all these cases, the common factor was that clicking the link led the employee to a phishing login page instead of the actual corporate portal. Most often, attackers targeted Microsoft accounts, though some phishing forms mimicked internal corporate resources.

    Fake login form

    1. Emails from a seller to a buyer, or vice versa. One common scheme involved a buyer or seller asking the victim to review an offer or respond to questions about product delivery and required specifications. These emails contained attached documents that actually concealed phishing links.

    Example of a phishing email from a seller

    When attempting to open the attachment, the user was redirected to a phishing page. As in the previous case, these fake forms harvested Microsoft credentials and corporate account logins.

    Fake password entry form

    Statistics: phishing

    The number of phishing attacks in 2024 increased compared to the previous year. Kaspersky solutions blocked 893,216,170 attempts to follow phishing links—26% more than in 2023.

    Number of Anti-Phishing triggerings, 2024 (download)

    Map of phishing attacks

    Users from Peru (19.06%) encountered phishing most often. Greece (18.21%) ranked second, followed by Vietnam (17.53%) and Madagascar (17.17%). They are closely followed by Ecuador (16.90%), Lesotho (16.87%) and Somalia (16.70%). The final places in the TOP 10 are occupied by Brunei (16.55%), Tunisia (16.51%) and Kenya (16.38%).

    Country/territory Share of attacked users*
    Peru 19.06
    Greece 18.21
    Vietnam 17.53
    Madagascar 17.17
    Ecuador 16.90
    Lesotho 16.87
    Somalia 16.70
    Brunei 16.55
    Tunisia 16.51
    Kenya 16.38

    * Share of users who encountered phishing out of the total number of Kaspersky users in the country/territory, 2024

    Top-level domains

    The most common domain zone hosting phishing sites remains the COM zone (29.78%)—its popularity has increased one and a half times compared to 2023. In second place is the XYZ domain (7.10%), which ranked fifth last year, followed by TOP (6.97%), which retained its position in the top ten. Next, with a slight margin from each other, are the ONLINE (4.25%) and SITE (3.87%) domain zones, where phishing sites were less actively hosted last year. The Russian RU domain (2.23%) and the global NET domain (2.02%) are in sixth and seventh place, respectively. Following them are CLICK (1.41%) and INFO (1.35%)—the year before, these zones were not frequently used. Closing the top ten is another national domain: UK, with a share of 1.33%.

    Most frequent top-level domains for phishing pages, 2024 (download)

    Organizations targeted by phishing attacks

    The rating of organizations targeted by phishers is based on the detections of the deterministic component in the Anti-Phishing system on user computers. The component detects all pages with phishing content that the user has tried to open by following a link in an email message or on the web, as long as links to these pages are present in the Kaspersky database.

    In 2024, the highest number of attempts to access phishing links blocked by Kaspersky solutions was associated with pages imitating various web services (15.75%), surpassing global internet portals (13.88%), which held the top position in 2023. The third and fourth positions in last year’s top ten also swapped places: banks moved ahead (12.86%), overtaking online stores at 11.52%. Attackers were also interested in social media (8.35%) and messengers (7.98%): attacks targeting them strengthened their positions in the ranking. For websites imitating delivery services, we observed a decline in phishing activity (6.55%), while the share of payment systems remained unchanged at 5.82%. Also included in the list of the most frequently targeted organizations were online games (5.31%) and blogs (3.75%).

    Distribution of organizations targeted by phishers, by category, 2024 (download)

    Statistics: spam

    Share of spam in email traffic

    In 2024, spam emails accounted for 47.27% of the total global email traffic, an increase of 1.27 p.p. compared to the previous year. The lowest spam levels were recorded in October and November, with average shares dropping to 45.33% and 45.20%, respectively. In December, we observed a seemingly slight upward trend in junk emails, resulting in the fourth quarter of the year being the calmest. Spam activity peaked in the summer, with the highest number of emails recorded in June (49.52%) and July (49.27%).

    Share of spam in global email traffic, 2024 (download)

    In the Russian internet segment, the average spam share exceeded the global figure, reaching 48.57%, which is 1.98 p.p. higher than in 2023. As in the rest of the world, spammers were least active at the end of the year: in the fourth quarter, 45.14% of emails were spam. However, unlike global trends, in Runet, we recorded four months during which the spam share exceeded half of all traffic: March (51.01%), June (51.53%), July (51.02%), and September (51.25%). These figures identified the third quarter as the most active, with a share of 50.46%. December was the calmest month, and interestingly, despite spam levels being generally high or the same in Russia, the number of spam emails in December was lower than the global figure: 44.56%.

    Share of spam in Runet email traffic, 2024 (download)

    Countries and territories where spam originated

    We continue to observe an increase in the share of spam sent from Russia—from 31.45% to 36.18%. The United States and mainland China, which held second and third place last year, swapped positions, with China’s share increasing by 6 p.p. (17.11%) and the US share decreasing by 3 p.p. (8.40%). Kazakhstan, which entered the top twenty for the first time last year, rose from eighth to fourth place (3.82%), pushing Japan (2.93%) down, and causing Germany, previously in fifth place, to drop one position with a share of 2.10%. India’s share slightly decreased, but the country moved up two positions from last year to seventh place. Conversely, the amount of spam sent from Hong Kong more than doubled (1.75%), allowing this territory to take eighth place in the top twenty. Next come Brazil (1.44%) and the Netherlands (1.25%), whose shares continued to decline.

    TOP 20 countries and territories where spam originated in 2024 (download)

    Malicious email attachments

    In 2024, Kaspersky solutions detected 125,521,794 attempts to open malicious email attachments, ten million fewer than the previous year. Interestingly, one of the peaks in email antivirus detections occurred in April—in contrast to 2023, when this month had the lowest malicious activity. In January and December, we observed a relative decrease in detections, while increases were noted in spring and autumn.

    Number of email antivirus detections, 2024 (download)

    The most common malicious email attachments were Agensla stealers (6.51%), which ranked second last year. Next were Badun Trojans (4.51%), which spread in archives disguised as electronic documents. The Makoob family moved from eighth to third place (3.96%), displacing the Noon spyware (3.62%), which collects browser passwords and keystrokes. The malicious Badur PDFs, the most common attachments in 2023, dropped to fifth place with a 3.48% share, followed by phishing HTML forms from the Hoax.HTML.Phish family (2.93%). Next in line were Strab spyware Trojans (2.85%), capable of tracking keystrokes, taking screenshots, and performing other typical spyware actions. Rounding out the top ten were SAgent VBS scripts (2.75%), which were not as actively used last year, the Taskun family (2.75%), which maintained its previous share, and PDF documents containing phishing links, Hoax.PDF.Phish (2.11%).

    TOP 10 malware families distributed as email attachments, 2024 (download)

    The list of the most widespread malware reflects trends similar to the distribution of families, with a few exceptions: the Hoax.HTML.Phish variant of malicious HTML forms dropped two positions (2.20%), and instead of a specific Strab Trojan sample, the top ten included the ISO image Trojan.Win32.ISO.gen, distributed via email (1.39%).

    TOP 10 malicious programs distributed as email attachments, 2024 (download)

    Countries and territories targeted by malicious mailings

    In 2024, users in Russia continued to face malicious email attachments more frequently than other countries, although the share of email antivirus detections in this country decreased compared to last year, to 11.37%. China ranked second (10.96%), re-entering the top twenty after several years. Next came Spain (8.32%), Mexico (5.73%), and Turkey (5.05%), which dropped one position each with a slight decline in malicious attachments. Switzerland (4.82%) took sixth place, appearing in the ranking for the first time. Following them were Vietnam (3.68%), whose share declined, and the UAE (3.24%), which strengthened its position in the ranking. Also among frequent targets of malicious spam were users from Malaysia (2.99%) and Italy (2.54%).

    TOP 20 countries and territories targeted by malicious mailings, 2024 (download)

    Conclusion

    Political and economic crises will continue to provide new pretexts for fraudulent schemes. In some cases presented in the 2024 report, we can observe the “greed” of cybercriminals: the use of two different company brands on the same page; a credible fake of a resource aimed not at stealing credentials but at stealing money; comprehensive questionnaires that can lead not only to loss of access to funds but also to identity theft. Such multi-layered threats may become a new trend in phishing and scam attacks.

    We continue to observe major news events being exploited in spam campaigns that promise easy earnings and discounted goods or services. The growing user interest in artificial intelligence tools is actively being leveraged by spammers to attract an audience, and this trend will undoubtedly continue.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: HK committed to Web3 ecosystem

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan

    It is my pleasure to be here at Consensus Hong Kong 2025. Let me begin by expressing my heartfelt gratitude to CoinDesk for choosing Hong Kong as the first Asian city for hosting this iconic conference. Your decision underscores Hong Kong’s growing prominence as a global hub for Web3 and crypto innovation. This event also reflects our commitment to building a thriving digital asset ecosystem.

    Vast potential of Web3 and AI

    Consensus 2025 is a congregation of Web3 talent from around the world, and its agenda reflects the most pressing topics and trends in the Web3 space today. From the convergence of AI and blockchain to the tokenisation of real-world assets (RWA), crypto and consumers, and DeFi 2.0 (decentralised finance), the discussions here are set to shape the future landscape of digital finance and the digital economy.

    One of the most exciting developments is, of course, the intersection of AI and blockchain, where decentralised AI can unlock many new applications and opportunities. For example, AI can assist blockchain platforms in performing more accurate credit assessments, improving smart contract audits, providing tailored investment advice, and more.

    Globally, the application of Web3 in finance is gaining traction. Blockchain innovations not just reduce transaction costs but also enhance market transparency, and the efficiency and accessibility of financial services. Indeed, we are seeing more institutional adoption where traditional banks, asset managers and brokers increasingly integrate digital assets into their offerings. The benefits are clear. The World Economic Forum, for example, estimates that financial institutions could free up some US$100 billion per year by leveraging distributed ledger technology for collateral management.

    Hong Kong, with its advanced financial infrastructure and robust regulatory environment, is at the forefront of this transformation. Hong Kong has already made history by issuing the world’s first tokenised government green bonds in 2023, followed by a groundbreaking multi-currency issuance in 2024.

    Beyond finance, Web3 plus AI innovations are inspiring a host of applications in the real economy. From streamlining supply chain management to enhancing game players’ experience; and from improving healthcare management to making agricultural and industrial production more intelligent, they are empowering and transforming business operations and public services.

    Rapid tech innovation does not come without challenges. Often, the progress of innovation outpaces regulatory response, creating gaps that can lead to substantial risks. The fallout from several crypto exchanges’ failures in recent years serves as vivid reminders that we must pay attention to market integrity, investor protection, money laundering and cybersecurity risks, as financial products and services continue to innovate and digitalise.

    On a positive note, the history of financial innovations shows that we learnt and adapted fast, and put in better guardrails and became more resilient. The key to success lies in maintaining an open, fair, balanced and forward-looking regulatory approach that is conducive to the sustainable and responsible development of financial innovation, including Web3.

    Hong Kong’s unparalleled advantages

    This is the path taken by Hong Kong. While some major jurisdictions have recently begun to embrace cryptocurrencies, which has undoubtedly fuelled a boom of the crypto market, Hong Kong stands out as a market with consistent, predictable, forward-looking policies, and a balanced regulatory framework. For innovators and companies committed to building the future of Web3, or financial institutions looking to bridge traditional and digital finance, Hong Kong is where you want to be.

    Our regime is premised on the “same activity, same risk, same regulation” principle, which ensures a level playing field for all market participants. In this regard, Hong Kong has already put in place a licensing regime for digital asset trading platforms. Our Securities & Futures Commission has already issued nine such licences, with more in the pipeline. We are also advancing on the regulation of stable coins, and have introduced the relevant piece of legislation.

    To facilitate further innovation, regulatory sandboxes have been set up by our regulators to allow innovators to test and refine their ideas, and to get early regulatory feedback. Besides, initiatives like the Hong Kong Monetary Authority’s Project Ensemble are accelerating the development of tokenisation ecosystems, covering RWAs like fixed income, investment funds, green finance and trade finance.

    Indeed, this pro-innovation and collaborative regulatory approach is a unique value proposition of Hong Kong to Web3 innovators and participants.

    AI is constantly evolving and increasingly applied to finance. Its convergence with blockchain will create more use cases, with both new opportunities to be captured, and challenges to be addressed. Hong Kong has set out a clear policy stance on the use of AI in financial services. The Government and financial regulators are working closely with the industry to monitor technology and market development and establish a transparent supervisory framework.

    Hong Kong’s commitment to Web3 extends beyond regulation. We are investing heavily in the related infrastructure and talent development. Our Cyberport and Science Park have become vibrant hubs for Web3 innovation and fintech, while our universities and partnerships with the industry are nurturing generations of blockchain experts. Through talent admission schemes, we are also attracting top-notch professionals from around the world, ensuring that Hong Kong remains at the cutting edge of technological advancement.

    Concluding remarks

    Ladies and gentlemen, while the tides of change may ebb and flow, the quest for innovation has never stopped. The digital asset market today may somewhat resemble the early days of all great transformative paradigms: as new frontiers emerge, there will always be champions of progress and cautious observers. What remains true is that the market ultimately rewards those who dare to innovate, and adapt and persevere.

    The tides of change are upon us, and Hong Kong is ready to ride the wave. As the Web3 ecosystem continues to evolve, Hong Kong will remain a stable, open and vibrant market for digital assets. I am confident that global companies and institutions will join force with us to lead its development.

    Once again, my heartfelt thanks to CoinDesk for hosting this event in Hong Kong. I wish you all a productive and inspiring event over the next two days. And do remember to take some time to enjoy Hong Kong, Asia’s world city. Thank you.

    Financial Secretary Paul Chan gave these remarks at Consensus Hong Kong 2025 on February 19.

    MIL OSI Asia Pacific News

  • MIL-OSI Security: USCGC Clarence Sutphin Jr. Rescues Seven Mariners

    Source: United States Naval Central Command

    U.S. CENTRAL COMMAND AREA OF RESPONSIBILITY —

    Crewmembers of the U.S. Coast Guard fast-response cutter USCGC Clarence Sutphin, Jr. (WPC-1147) and the mine countermeasures ship USS Devastator (MCM 6) rescued seven mariners from a disabled vessel in the international waters of the Central Arabian Gulf, Feb. 18.

    Following a distress signal from the mariners, the Coastguardsmen embarked a rigid-hull inflatable boat to offer assistance. After determining the vessel was no longer sea worthy, the Coastguardsmen brought the mariners back to their ship. Devastator provided back-up support during the operation.

    None of the mariners appeared to be injured.

    “Providing assistance at sea to mariners in distress is a core Coast Guard mission,” said Coast Guard Lt. Michael O’Dell, Clarence Sutphin, Jr.’s commanding officer. “It is inherently dangerous, but the team executed without hesitation – without fear – to extend their compassion to people in a dire situation. I’m incredibly proud of to be a part of this team.”

    Clarence Sutphin, Jr. is forward deployed to the U.S. 5th Fleet area of operations as part of Patrol Forces Southwest Asia. Devastator is an Avenger-class mine countermeasures ship also forward deployed to U.S. 5th Fleet. Both ships help ensure maritime security and stability in the Middle East region.

    The U.S. 5th Fleet area of operations encompasses about 2.5 million square miles of water area and includes the Arabian Gulf, Gulf of Oman, Red Sea and parts of the Indian Ocean. The expanse is comprised of 20 countries and includes three critical choke points at the Strait of Hormuz, the Suez Canal and the Strait of Bab al Mandeb at the southern tip of Yemen.

    MIL Security OSI

  • MIL-OSI: MFH’s Majority-Owned Subsidiary Aifinity Base Limited Plans to Manufacture Advanced Liquid Cooling Solutions for Nvidia® Chip-Powered AI Data Centers and High-Performance Computing

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 19, 2025 (GLOBE NEWSWIRE) — Mercurity Fintech Holding Inc. (the “Company,” “we,” “us,” “our company,” or “MFH”) (Nasdaq: MFH), a digital fintech group, today announced the formation of a majority-owned subsidiary in Hong Kong, Aifinity Base Limited (“Aifinity”). Aifinity plans to manufacture advanced liquid cooling panels specifically tailored for artificial intelligence (AI) infrastructure, high-performance computing (HPC), and more specifically, to improve the efficiency and performance of Nvidia® chip-powered GPUs and other high-performance AI accelerators.

    Aifinity Base Limited, will focus on addressing the growing challenge of managing heat in increasingly powerful artificial intelligence (“AI”) systems. By combining innovative liquid cooling technology with smart, easy-to-deploy components, Aifinity intends to manufacture cooling panels to handle the intense heat generated by modern AI computing systems, provided that it can install its manufacturing machinery and equipment properly and timely. In the future, Aifinity aims to expand the cooling panel manufacturing further into comprehensive cooling solutions.

    Aifinity’s Strategic Focus Areas:

    • Next-generation liquid cooling technologies for AI infrastructure and high-density computing
    • Advanced manifold cooling systems optimized for AI accelerators
    • Quick-coupling solutions for efficient cooling system deployment
    • High-efficiency cooling components for data center operations
    • Comprehensive thermal management solutions for AI clusters

    Market Opportunity and Growth Strategy

    With the exponential growth in AI computing power and the increasing adoption of high-performance GPUs, Aifinity believes that the demand for advanced thermal management solutions has never been greater. The Company views this environment as a great opportunity to provide a comprehensive approach that spans customized cooling solutions for diverse AI computing environments, integrated smart monitoring systems for optimal performance, and energy-efficient designs that significantly reduce operating costs. Aifinity plans to leverage its holding company’s network to work closely with leading hardware manufacturers to develop optimized cooling solutions that address the specific needs of next-generation AI infrastructure.

    “Today’s AI systems generate intense heat, and they need cooling solutions that can keep up,” said Shi Qiu, CEO of the Company, the parent company of Aifinity. “Through Aifinity Base Limited, we would like to enter into the thermal management industry and later arrive at the forefront of thermal management innovation.”

    About Mercurity Fintech Holding Inc.
    Mercurity Fintech Holding Inc. is a digital fintech company with subsidiaries specializing in distributed computing, business consulting and financial brokerage business. Our dedication to compliance, innovation, and operational excellence ensures that we remain a trusted partner in the rapidly transforming digital financial landscape. For more information, please visit the Company’s website at https://mercurityfintech.com.

    Forward-Looking Statements
    This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

    For more information, please contact:
    International Elite Capital Inc.
    Vicky Chueng
    Tel: +1(646) 866-7989
    Email: mfhfintech@iecapitalusa.com

    The MIL Network

  • MIL-OSI Economics: Panasonic Wins Appeal Case Filed by Dyson Regarding Nanocare EH-NA0G Hair Dryer

    Source: Panasonic

    Headline: Panasonic Wins Appeal Case Filed by Dyson Regarding Nanocare EH-NA0G Hair Dryer

    Osaka, Japan – Panasonic Corporation (“Panasonic”) announced today (February 19, 2025) that the Intellectual Property High Court of Japan delivered a judgment dismissing the appeal (the “Appeal Court Decision”) regarding a lawsuit brought by Dyson KK (“Dyson”) against Panasonic seeking an injunction against advertisements for the nanocare EH-NA0G Hair Dryer (the “Lawsuit”).
    Dyson filed the Lawsuit with the allegation that Panasonic’s advertisements for the nanocare EH-NA0G Hair Dryer were misleading for consumers and seeking an injunction against them. The court of first instance (Tokyo District Court) ruled on April 27, 2023, that the advertisements were not misleading for consumers and did not violate the Unfair Competition Prevention Act, but Dyson appealed the judgment to the court of second instance.
    The Appeal Court Decision fully upheld Panasonic’s arguments, stating that Panasonic’s experiments of the Hair Dryer are reasonable, and ruled that the advertisements are based on the results of such experiments. At the same time, the court noted that the Dyson’s experiment methodologies, even taken together with those for the second instance, are inappropriate, and judged all the Dyson’s appeals are baseless. Panasonic achieved a complete victory once again in the court of second instance.
    Nanoe technology is supported by long years of research and development and its value is highly appreciated by customers. Panasonic will continue to provide customers with correct information on the commercial value of nanocare hair dryers while adhering to pertinent laws, regulations, and guidelines.

    MIL OSI Economics

  • MIL-OSI China: ‘Ne Zha 2’ premieres in Hong Kong as box office surges

    Source: China State Council Information Office 3

    The much-awaited Chinese mainland’s animated blockbuster “Ne Zha 2” premiered on Tuesday night in Hong Kong and was scheduled to officially hit Hong Kong theaters on Saturday.

    A sequel to the 2019 hit “Ne Zha 1,” “Ne Zha 2” continues to build on the beloved Chinese mythology surrounding the character and has been celebrated as a milestone for Chinese animation. It has already garnered significant attention in both Hong Kong and Macao, breaking records for the number of distributors and daily screenings for a Chinese mainland film in Hong Kong.

    “We are honored to bring this world-class, phenomenon-level animation to Hong Kong and Macao, allowing viewers to experience the charm of Ne Zha in theaters,” said a representative with Emperor Motion Pictures, a co-distributor of the film, hoping that “Ne Zha 2” will be loved here as much as in the Chinese mainland.

    Since its release in the Chinese mainland during the Chinese New Year, “Ne Zha 2” has proved a smashing success at the box office, with total earnings worldwide, including pre-sales, surpassing 12.3 billion Chinese yuan (1.72 billion U.S. dollars) as of Tuesday evening.

    This figure positions the film ahead of “Inside Out 2,” making it the highest-grossing animated film globally. 

    MIL OSI China News