Category: Asia Pacific

  • MIL-OSI United Kingdom: 2025 Rohingya Joint Response Plan: UK statement

    Source: United Kingdom – Executive Government & Departments

    Speech

    2025 Rohingya Joint Response Plan: UK statement

    2025 Rohingya Joint Response Plan: UK statement. Delivered by the UK’s Human Rights Ambassador, Eleanor Sanders.

    The United Kingdom would like to extend our heartfelt thanks to Bangladesh for its generous hospitality in hosting so many Rohingya refugees since 2017.

    We also wish to express our deep appreciation to all the humanitarian partners, their staff and the volunteers on the ground, who have provided vital assistance in this ongoing crisis.

    The UK remains steadfast in our commitment to supporting the Rohingya people while they remain in Bangladesh. Since 2017, we have provided £405 million for the Rohingya and host communities in Bangladesh. We have also contributed £105 million to the response in Rakhine, with £52 million of this supporting Rohingya and other Muslim minorities.

    Through our role as penholder at the Security Council, the UK convened four meetings on Myanmar last year, and one earlier this year, to engage with key stakeholders and ensure continued attention on the crisis.

    In November, our Minister for the Asia Pacific visited Bangladesh, where she reiterated the UK’s unwavering support for Bangladesh and the Rohingya people.

    So we are also pleased to welcome this year’s Joint Response Plan, aimed at assisting both the Rohingya refugees and the vulnerable host community members living in Bangladesh. We continue to see it as important that we target our support to ensure protection of the most vulnerable.

    We recognise the immense challenges that Bangladesh faces in hosting such a large refugee population, including the pressures on security and infrastructure in the camps. The UK is committed to:

    • Continuing our partnership with Bangladesh and our international partners to find sustainable solutions,
    • Working with Bangladesh to offer the Rohingya refugees greater self-reliance,
    • Improving the safety and security of the camps,
    • Coordinating with international partners to achieve the maximum impact with the resources available.

    As this crisis continues to evolve, we will continue to do everything we can to support those in need, while actively working towards a safe, dignified, and sustainable future for the Rohingya people.

    Thank you.

    Updates to this page

    Published 26 March 2025

    MIL OSI United Kingdom

  • MIL-Evening Report: Politics with Michelle Grattan: Jim Chalmers and Angus Taylor on tax top-ups and budget bottom lines

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    As the election starter’s gun is about to be fired, Tuesday’s budget announced modest income tax cuts as the government’s latest cost-of-living measure. The Coalition has opposed the tax relief, with Peter Dutton’s Thursday budget reply to put forward his policy counters on the cost of living.

    Meanwhile, the domestic economic debate is being conducted as President Donald Trump prepares to unveil more tariffs, which are likely to produce further uncertainty in the world economy.

    On this podcast we are joined by Treasurer Jim Chalmers and Shadow Treasurer Angus Taylor.

    Chalmers says the government is making every last-minute effort to argue against Australia being hit with more US tariffs. He’s ready to make personal representations if that’s thought useful.

    I’ve been discussing that with Don Farrell, the minister for trade, whether or not that would be helpful to some of the efforts that he’s currently engaged in. So we’re working as a team on it. We’re working out the best [and] most effective ways to engage with the Americans. Again, speaking up for and standing up for our national interest.

    We’re not uniquely impacted by the tariffs either already imposed or proposed. But we’ve got a lot of skin in the game here. We’re a trading nation, we generate a lot of prosperity on global markets.

    A criticism from some about the budget was that climate change wasn’t mentioned explicitly. Chalmers takes issue with that.

    I would have thought that an extra A$3 billion for green metals, which is about leveraging our traditional strengths and resources, our developing industries and the energy transformation to create something that the world needs, I think that’s a climate change policy.

    And also the Innovation Fund, another $1.5 billion or so for the Innovation Fund in terms of sustainable aviation fuels, that’s a climate policy and also we’re recapitalising another couple of billion for the Clean Energy Finance Corporation.

    So in every budget, we’ve made new investments in climate change and in energy and this week’s budget was no different in that regard.

    Angus Taylor is scathing about Labor’s “top-up” tax cuts, which were the budget’s centrepiece, saying:

    A government that has overseen an unprecedented collapse in our living standards, unrivalled by any other country in the world, and they’re trying to tell Australians that 70 cents a day, more than a year from now, is a solution to that problem?

    It’s laughable, it is not even going to touch the sides, it’s Band-Aid on a bullet wound. It’s a cruel hoax. And frankly, the idea that this is good government is absolutely laughable.

    On what change of approach a Coalition government would take, Angus Taylor points to the “fiscal rules that we adhered to when we were last in government”.

    They were on the back of the rules that were established in the Charter of Budget Honesty that was established by Peter Costello in the 1990s to make sure your economy grows faster than your spending. That doesn’t mean spending doesn’t grow, it just means your economy grows faster.

    So both of those things matter, a faster growing economy and managing your spending so that it’s not growing faster. Jim Chalmers doesn’t get that.

    Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Politics with Michelle Grattan: Jim Chalmers and Angus Taylor on tax top-ups and budget bottom lines – https://theconversation.com/politics-with-michelle-grattan-jim-chalmers-and-angus-taylor-on-tax-top-ups-and-budget-bottom-lines-253112

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: DEX3.AI: Next-Gen DEX Elevating Meme Trading on Solana to New Heights

    Source: GlobeNewswire (MIL-OSI)

    HANOI, Vietnam, March 26, 2025 (GLOBE NEWSWIRE) — The cryptocurrency market in 2025 is a whirlwind of opportunity and risk, with meme coins driving unprecedented excitement on Solana — a blockchain celebrated for its speed and low costs. Enter DEX3.AI, a next-generation decentralized exchange (DEX) launched to empower meme traders with cutting-edge intelligence. As of March 18, 2025, DEX3.AI stands out by offering not just speed and usability, but a suite of advanced tools: Square Pie Chart money flow tracking, scam detection, wash trading alerts, and real-time insights into X accounts and token ownership. Tailored for Solana’s meme coin frenzy, DEX3.AI is the ultimate weapon for traders seeking smarter decisions in a chaotic market.

    Solana: The Epicenter of Meme Coin Mania

    Solana’s appeal to meme traders is undeniable. With over 65,000 transactions per second (TPS) and fees averaging 0.0001 SOL (a few cents), it’s a dream for those chasing rapid pumps and dumps. The 2024 rise of Pump.fun, which amassed $71.5 million in fees in November, solidified Solana as the meme coin hub. DEX3.AI steps into this arena with a mission: arm traders with the sharpest tools to navigate Solana’s wild ecosystem.

    DEX3.AI: Intelligence Meets Intuition

    DEX3.AI redefines what a DEX can be, merging AI-driven analytics with a trader-first design. Its upgraded features go beyond trading — they protect and inform. Here’s what sets it apart:

    1. Square Pie Chart Money Flow Tracking
    DEX3.AI’s Square Pie Chart interface transforms complex money flows into a clear, color-coded snapshot. Tracking whales, Smart Money, and KOLs (Key Opinion Leaders), it shows who’s buying or selling in real time. This visual brilliance makes market moves instantly digestible, giving traders the edge to act fast.

    2.  Smart Risk Detection: Scams and Wash Trading
    Meme coins are rife with scams and manipulation, but DEX3.AI fights back with AI-powered risk detection. It flags potential scams by analyzing token contracts for red flags (e.g., hidden mint functions) and alerts users to wash trading patterns — artificial volume spikes designed to mislead. This proactive shield helps traders avoid traps, a leap beyond basic DEXs like Raydium or Bullx.

    3.  X Account Insights: Transparency in Influence
    DEX3.AI digs into X accounts tied to tokens, revealing critical details: how many times a name has changed (a scam signal), follower count (influence level), and activity patterns. A KOL with 100K followers pumping a coin gets weighted differently than a renamed ghost account. These insights, updated live, empower traders to gauge hype versus reality.

    4.  Real-Time Ownership Breakdown
    Knowledge is power, and DEX3.AI delivers it with real-time token ownership analytics. See how much Devs, Insiders, and Snipers (early buyers) hold. If Devs control 70% of supply or Snipers are dumping, you’ll know instantly — crucial data for deciding whether to jump in or bail out.

    5.  Seamless PC and Mobile Interface
    Speed meets simplicity with DEX3.AI’s intuitive interface, optimized for PC and mobile. Swap tokens, monitor risks, or check X trends — all in a clean, responsive layout. Whether at home or on the move, traders stay in control

    6.  Deep Signals: AI-Driven Predictions
    Upgraded with AI, Deep Signals tracks money flows from whales, smart money, KOL and predicts trends by fusing on-chain data with X buzz. It flags tokens gaining traction — visualized in the Square Pie Chart — and warns of fading momentum, giving traders a predictive edge no rival can match.

    7.  High-Speed Trading Precision
    Built for Solana’s sub-400-millisecond confirmations, DEX3.AI ensures trades hit the blockchain at lightning speed. This precision is a lifeline in meme coin volatility, letting traders snipe launches or exit pumps before the crash.

    DEX3.AI vs. The Field
    DEX3.AI outshines its market competitors with wallet-tracking features that detect token trends and identify scams. Raydium and Jupiter excel in liquidity but fall short in providing risk assessment tools and real-time ownership data. Uniswap and PancakeSwap, constrained by slower chains, cannot match DEX3.AI’s Solana-optimized speed and intelligence. This DEX isn’t just better — it’s in a league of its own.

    Empowering Smarter Decisions
    What ties DEX3.AI’s features together is their purpose: better decisions. The Square Pie Chart clarifies money flows, scam alerts protect capital, X insights expose hype, and ownership data reveals risks — all in real time. A trader spotting a token with 80% Dev ownership and a suspicious X account can dodge a rug pull, while one seeing whale accumulation can ride the wave. This intelligence turns Solana’s chaos into opportunity.

    The Future of DEX3.AI
    In March 2025, as Solana’s meme coin scene surges, DEX3.AI is poised to dominate. Its blend of AI, risk detection, and trader-friendly design could evolve further — think deeper scam forensics or cross-chain meme tracking. DEX3.AI isn’t just keeping pace; it’s setting the DeFi standard.

    Conclusion

    DEX3.AI isn’t a typical DEX — it’s a meme trader’s dream on Solana. With Square Pie Charts, scam and wash trading detection, X account insights, real-time ownership breakdowns, and AI-driven signals, it delivers unmatched intelligence. For those navigating the meme coin jungle, DEX3.AI is the compass to profit and safety

    Website: https://dex3.ai
    X: https://x.com/dex3_ai

    Media Contact:

    Name: PHẠM QUỐC HUY
    Website: http://dex3.ai
    Email: huypq@dex3.ai
    Address: No2 Nguyen Co Thach Street, Ha Noi, Viet Nam

    Disclaimer: This press release is provided by DEX3.AI. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/31f88daf-37c7-41da-b532-61d7057ec7a6
    https://www.globenewswire.com/NewsRoom/AttachmentNg/ff17c795-4aeb-4593-a73f-3299d7b24980
    https://www.globenewswire.com/NewsRoom/AttachmentNg/8aef8042-bc73-4a23-9e34-63f230cc4b76
    https://www.globenewswire.com/NewsRoom/AttachmentNg/0efb273f-8377-401e-a067-0817481e9f16

    The MIL Network

  • MIL-OSI Economics: Secretary-General of ASEAN welcomes Secretary-General of China-ASEAN Expo (CAEXPO) Secretariat in Jakarta

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today welcomed the Secretary-General of China-ASEAN Expo (CAEXPO) Secretariat, Dr. Wei Zhaohui, during a meeting at the ASEAN Secretariat/ Headquarters. The meeting focused on the work plan and preparations for the 22nd CAEXPO, scheduled to take place in Nanning, Peoples’ Republic of China, on 17 to 21 September 2025.

    The post Secretary-General of ASEAN welcomes Secretary-General of China-ASEAN Expo (CAEXPO) Secretariat in Jakarta appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI Economics: Secretary-General of ASEAN receives Permanent Representative of Viet Nam to ASEAN

    Source: ASEAN

    At the ASEAN Headquarters/ASEAN Secretariat today, Secretary-General of ASEAN, Dr. Kao Kim Hourn, met with the Permanent Representative of Viet Nam to ASEAN, H.E. Dr. Ton Thi Ngoc Huong. They discussed the successful official visit of H.E. Tô Lâm, General Secretary of the Central Committee of the Communist Party of Viet Nam to the ASEAN Headquarters/ASEAN Secretariat, on 10 March 2025, as well as other recent developments in ASEAN.

    The post Secretary-General of ASEAN receives Permanent Representative of Viet Nam to ASEAN appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI Economics: Asian Development Blog: Artificial Intelligence Meets Real Finance: Innovation, Risk, and Regulation

    Source: Asia Development Bank

    Artificial intelligence is reshaping financial services by improving credit scoring, customer service, fraud detection, and risk management across sectors.

    The financial sector is data-intensive and among the most exposed to artificial intelligence. The application of AI in finance is significantly changing how markets operate, risks are managed, and consumers interact with financial services. 

    The use of AI in finance is not something new. Traditional analytics have been applied in various functions throughout the financial system. 

    For example, AI models have been used for rule-based risk analysis in financial intermediation, risk management and portfolio optimization in asset management, and fraud detection in payment systems. 

    In particular, the emerging generative AI technology can generate and execute transactions, even without human intervention. 

    It enables the processing of huge amounts of data at a speed far beyond human capacity. Generative AI thus offers vast opportunities for the financial sector across several functions, including financial intermediation, insurance, asset management, and payment systems. 

    Financial institutions have also used generative AI to strengthen credit scoring, back-end processing, customer support, risk analysis, robo-advising, and know-your-customer processes. 

    These four areas offer interesting opportunities for AI in finance:

    Financial intermediation: Traditional analytics focus on rule-based risk analysis and fostering greater competition. With the adoption of machine learning, financial institutions have improved credit risk analysis, reduced underwriting costs, and expanded financial inclusion. Generative AI takes this further by enabling enhanced credit scoring using unstructured data, streamlining back-end processing, and improving customer support.

    Insurance: Traditional analytics support risk analysis and market competition. Machine learning introduces better risk assessment, lowers processing costs, and enhances fraud detection capabilities. Generative AI enhances risk analysis through the ability to process newly legible data and facilitates easier compliance with regulatory requirements.

    Asset management: Traditional analytics help with risk management, portfolio optimization, and high-frequency trading. Machine learning allows the analysis of new data sources and continues to support high-frequency trading. Generative AI contributes through robo-advising, asset embedding, the development of new financial products, and improved customer service.

    Payments: Traditional analytics are primarily used for fraud detection. Machine learning introduces new liquidity management tools and strengthens fraud detection. Generative AI enhances know-your-customer and anti-money laundering processes, increasing the efficiency and accuracy of identity verification and transaction monitoring.

    To maximize the net benefits for finance, AI regulations must strike a balance between innovation and safety.

    While AI has created numerous benefits for the financial sector, there are some challenges related to its adoption. In particular, there are new risks associated with the use of generative AI. 

    Since AI can be adopted across different functions, processes, and applications, financial systems will likely become more vulnerable to cybersecurity threats. 

    Further, generative AI models are prone to the garbage-in-garbage-out problem, as they tend to capture and sustain the biases and errors inherent in the underlying data that they have been trained on. 

    AI models could also generate hallucinations, which are false or misleading information resulting from incorrect or insufficient training data and faulty assumptions. 

    The use of generative AI can also create systemic risks. The domination of AI supply chain by a few big tech players results in more uniform behavior. This means that failures and disruptions within the AI systems of big tech players can have widespread effects that lead to overall financial instability.   

    Therefore, the key challenge is to build AI regulations that recognize both the risks and benefits of AI adoption. This would help maximize the benefits of AI for finance while minimizing its risks. 

    The principles underlying AI regulations must encompass social and environmental well-being, transparency and accountability, and fairness and protection of privacy. 

    Given differences in countries’ level of development and extent of AI adoption, global cooperation on AI regulation is also important.

    The adoption of AI can deliver potentially large benefits for the financial sector. However, AI also poses systemic risks and potential market disruptions. 

    To maximize the net benefits for finance, AI regulations must strike a balance between innovation and safety. Doing so requires international cooperation, transparency, and adaptable principles that can keep up with fast-evolving AI technologies.

    MIL OSI Economics

  • MIL-OSI China: RCEP emerges as anchor for free trade amid rising protectionism

    Source: China State Council Information Office

    The Regional Comprehensive Economic Partnership (RCEP) has emerged as an important anchor for global free trade, injecting momentum into the world economy amid rising protectionism and geopolitical uncertainties, according to sources from the Boao Forum for Asia (BFA) conference.

    The RCEP has become a major driving force and institutional pathway for economic globalization, further opening up the regional market and advancing regional liberalization, said Kuang Xianming, deputy head of the China Institute for Reform and Development.

    Three years after its implementation, the trade pact has delivered initial benefits, with the total trade value within the region expanding 3 percent year on year in 2024, a significant figure given the headwinds facing global trade, Kuang said.

    Under the agreement, the RCEP region has become the most dynamic hub for cross-border capital flows, according to Kuang. In 2023, the RCEP region attracted 35 percent of global foreign direct investment and contributed 30 percent of global outbound investment, he added.

    The RCEP, the world’s largest free trade deal to date, covers 10 member states of the Association of Southeast Asian Nations and its five free trade agreement partners, namely China, Japan, the Republic of Korea, Australia, and New Zealand.

    The RCEP, as a major achievement of Asian economic integration, has injected new vitality into the member economies, bringing certainty into the uncertain global economy and trade landscape, according to a report released at the BFA.

    The trade pact has integrated the free trade agreement arrangements within the region, optimized the configuration of economic resources, and demonstrated the determination of Asian economies to promote open cooperation, the report said. 

    MIL OSI China News

  • MIL-OSI United Kingdom: UK-Southeast Asia Tech Week 2025 in Manila

    Source: United Kingdom – Executive Government & Departments

    World news story

    UK-Southeast Asia Tech Week 2025 in Manila

    The UK Government recently hosted UK-Southeast Asia Tech Week in Manila, driving innovation, collaboration and investment.

    His Majesty’s Ambassador Laure Beaufils (second from right) and His Majesty’s Trade Commissioner Martin Kent (rightmost) sign a Strategic Partnership with Fintech Alliance Philippines, represented by Martha Borja and Lito Villanueva, to enhance UK-Philippines cooperation in the fintech sector, driving financial inclusion and technological advancement.

    Under the theme “Bridging Boundaries, Building a Resilient, Innovative, and Inclusive Tech Ecosystem,” the event held from 24 to 25 March 2025 showcased British cutting-edge technology and expertise while fostering partnerships to strengthen the region’s tech landscape.

    His Majesty’s Trade Commissioner for Asia Pacific, Martin Kent led the delegation of 12 pioneering British artificial intelligence (AI) and data companies, exploring opportunities for collaboration with Philippine partners in the tech ecosystem. He stated:

    The UK is a global leader in science and technology, with our tech ecosystem worth US$1.2 trillion – the 3rd largest in the world after the US and China.

    I am delighted to lead this delegation of cutting-edge companies to Manila for UK-Southeast Asia Tech Week to represent the UK’s tech prowess. The UK is committed to building opportunities for mutual prosperity with the Philippines, and I look forward to the innovation and new partnerships that will unfold from this week.

    Companies including NCC Group, iProov and Revolut took centre stage during the UK Tech Showcase, demonstrating their latest innovations in cybersecurity, biometric authentication, and digital banking.

    Panel discussions on AI and cybersecurity were conducted, providing insights on latest trends, emerging threats and best practices. The discussions also underscored the need for collaboration to address common challenges.

    Furthering the UK and Philippine tech partnership, His Majesty’s Ambassador Laure Beaufils signed a Strategic Partnership with Fintech Alliance Philippines to enhance cooperation in the fintech sector, driving financial inclusion and technological advancement across the industry. She shared:

    The UK is proud to be a long-standing partner in the Philippines’ digital journey, supporting initiatives that foster innovation, improve cybersecurity resilience and develop a skilled tech workforce.

    British Embassy Manila and Kickstart Ventures, the Philippines’ largest corporate venture capital firm, also launched the UK Tech Growth Programme. This new collaboration is designed to match UK startups to receive potential investment from Kickstart Ventures through The Ayala Corporation Technology Innovation Venture Fund (ACTIVE Fund), the largest venture capital fund to come out of the Philippines.

    Kickstart Ventures Managing Partner and Co-Founder Minette Navarrete said:

    We recognise the vital role of forging partnerships beyond borders in fuelling innovation that benefits all– a commitment we take to heart at Kickstart. Our collaboration with the British Embassy is integral to this commitment, allowing us to lead transformative investments with UK startups and bring in tech-driven solutions that ensure mutual growth.

    Ambassador Beaufils added:

    Technology is not just about infrastructure—it’s about partnerships, trust, and shared progress. The UK is working hand in hand with the Philippines on this, supporting it to expand its tech ecosystem.

    UK-Southeast Asia Tech Week 2025 reaffirms the UK’s commitment to driving innovation, strengthening partnerships, and shaping a resilient and inclusive tech ecosystem across the region.

    The delegation includes British Companies Content Guru, CyberQ Group, Encompass, Intelligent AI Solutions, Kraken IM, Newcastle University, Open Data Institute, Smart Pension, Summatic, Sumsub, Synectics and Veracity Trust Network APAC.

    Updates to this page

    Published 26 March 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: UK, Philippines hold 5th Climate Change and Environment Dialogue

    Source: United Kingdom – Government Statements

    World news story

    UK, Philippines hold 5th Climate Change and Environment Dialogue

    Bilateral cooperation on climate and environment is being strengthened through discussions on science, innovation, localisation, resilience, and finance.

    His Majesty’s Ambassador to the Philippines, Laure Beaufils, and Environment Secretary and Official Representative of the President to the Climate Change Commission, Maria Antonia Yulo Loyzaga recently led the 5th UK-PH Climate Change and Environment (CCE) Dialogue to set the direction for the year, building on the successes of 2024.

    These saw UK support for the operationalisation of the Philippines’ National Adaptation Plan, mobilisation of institutional capital into renewable energy in the country through the Philippines Stock Exchange, funding to civil society across projects on biodiversity and coastal livelihoods and launching of key multi-stakeholder platforms tacking plastic pollution and blue carbon.

    Both countries agreed to establish a UK-led development partners coordination group for the localisation of climate analytics in provinces identified with high exposure to climate risks in the National Adaptation Plan, and the government’s Risk Resiliency Programme. Using the findings from pilot site of Negros Occidental, an investment platform will be developed to mobilise private capital for adaptation and resilience with a focus on climate-smart agriculture, innovative water management solutions and agroforestry projects.

    The Dialogue also agreed to ramp up support for the blue economy through the UK’s Blue Planet Fund. The new COAST (Climate and Ocean Adaptation and Sustainable Transition) programme will be rolled out in the Philippines this year, which seeks to deliver interventions that will strengthen marine protected areas, operationalise sustainable fisheries management, and promote blue carbon initiatives.

    Representatives reached an agreement to form a UK-DENR partnership mechanism to promote biodiversity and nature grants to local governments and communities that would not only support biodiversity conservation but also build resilience and provide long-term economic benefits for resource-dependent communities.

    Representatives also agreed to ramp up collaboration on climate and nature finance. Discussions covered expanding access to sustainable financing, catalysing private capital for climate change adaptation, and aligning financial strategies with climate risk assessments to develop more investment-ready portfolio for large-scale, long-term sustainability efforts.

    Ambassador Beaufils said:

    I am very proud of the progress we have made together. But we won’t rest on our laurels. We are ambitious for the future, and we will continue to deliver tangible results across adaptation, climate finance, science and research, and investments into renewable energy.

    Meanwhile, Secretary Loyzaga highlighted:

    Our Enhanced Partnership with the UK is a testament to our commitment as like-minded countries and large ocean nations to a future that is secured under a rules-based international order. The bi-annual reviews of our climate change joint work plan will allow us to align, calibrate, and adapt when we respond to geo strategic uncertainties that we actually face.

    The dialogue concluded with both countries signing a renewed partnership statement on climate and nature. The UK remains committed to supporting these efforts through expertise, financing, and advocacy for climate-vulnerable nations.

    The Dialogue was attended by high-level representatives from key agencies, including the DENR, Climate Change Commission, Department of Agriculture, Department of Finance, Department of Science and Technology, Department of Energy, Bangko Sentral ng Pilipinas, National Economic and Development Authority, the Public-Private Partnership Center and the Department of Trade and Industry.

    Updates to this page

    Published 26 March 2025

    MIL OSI United Kingdom

  • MIL-OSI Russia: Events in honor of the 80th anniversary of Victory will be held throughout Moscow — Sergei Sobyanin

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    The organization of large city festivals and cultural events that transform the capital into a single concert and theater venue is an important area of work for the Moscow Government. In its telegram channel Sergei Sobyanin spoke about the results of the 2024 cultural program and shared plans for 2025.

    “The main theme of this year is the 80th anniversary of the Victory in the Great Patriotic War. The central location will traditionally be Poklonnaya Gora,” the Moscow Mayor wrote.

    Source: Sergei Sobyanin’s Telegram channel @Mos_Sobyanin

    Thematic events will be held at 12 district venues, in 26 parks of culture and recreation, as well as in theaters, cultural centers, libraries, museums and exhibition halls. There will be concerts of popular performers, performances by theater groups, a broadcast of the military parade on Red Square and recordings of the 1945 Victory Parade. About 10 million people are expected to attend these events.

    Today, you can get acquainted with music, theatre, circus and contemporary art or media art not only in cultural institutions, but also in parks, on streets and boulevards.

    The Theatre Boulevard festival will return to the streets of the capital in the summer. The number of venues and events will increase. Its main goal is to attract a new audience to Moscow’s theatres and concert halls. Festival guests will be able to learn about certain theatres and better study their repertoire.

    Moscow Fashion Week is one of the largest events in the cultural life of the capital. It is held in autumn and spring. In March of this year, the fourth Moscow Fashion Week ended, which was visited by over 65 thousand people. Its participants were not only Russian and foreign fashion industry professionals, but also about 140 students from creative universities of the country. Collections were presented by 186 brands from 27 regions of Russia and nine other countries.

    The city festivals “Summer in Moscow”, “Territory of the Future. Moscow 2030”, “Winter in Moscow”, as well as the first-ever “Theater Boulevard” festival were the highlights of last year – over 1,600 actors from more than 75 theater companies took to the streets.

    “In August 2024, the first

    Moscow International Film Week. 47 countries participated: representatives of film companies, producers, scriptwriters and government officials. Events were held all over Moscow – from film screenings to excursions to the filming locations of famous films,” added Sergei Sobyanin

    In December 2024, the Moscow International Creative Industries Week was held, which was attended by representatives from Brazil, Egypt, India, China, Thailand, Turkey and other countries. Moscow entrepreneurs signed a number of agreements and export contracts with their foreign colleagues in the field of cinema, animation, video games, and interior design. The total amount under these agreements exceeded 700 million rubles.

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/mayor/tkhemes/12546050/

    MIL OSI Russia News

  • MIL-OSI New Zealand: Update: Arrest in aggravated burglary investigation, Miramar

    Source: New Zealand Police (National News)

    Attributable to Detective Inspector Nick Pritchard:

    Police have arrested and charged a man following extensive enquiries into an aggravated burglary in Miramar.

    At around 2am on Monday 17 March, Police were called to a Darlington Road address, where the occupants located an intruder inside their home. After an alleged altercation with the occupants of the house, the alleged offender fled.

    One person in the house received minor injuries and the other three were uninjured.

    Today, Wednesday 26 March, Police arrested and charged a 28-year-old man.

    The man is due to appear in Wellington District Court on Thursday 27 March, charged with aggravated burglary and aggravated injury.

    Wellington Police continue to investigate the death of 63-year-old Abdul Nabizadah and are working to establish if there is a link between the aggravated burglary and Mr Nabizadah’s death.

    We are grateful for the assistance so far from the public and continue to appeal for information to assist in our enquiries.

    At 12.28am, a man was seen walking down Camperdown Road from Totara Street and turned right in to Darlington Road from Camperdown Road. The man was wearing a light-coloured top and dark pants.

    We know Mr Nabizadah arrived in Totara Street in his silver-coloured Toyota Aqua, registration NQE681, at 12.25am, so this man may well have seen Mr Nabizadah and or his vehicle. We urge this person, or anyone who may know them, to come forward as soon as possible.

    At 1.30am, a man in fitness clothing or activewear was seen running south on Darlington Road, before crossing the Camperdown Road intersection. He was wearing a blue shirt, and we also need to hear from him.

    We understand these incidents are upsetting and concerning for the community and the investigation team are working tirelessly to determine the circumstances around Mr Nabizadah’s death and to bring closure for his family.

    If you have any information that could help the investigation teams, please update us at 105 online now or call 105.

    Please use the reference number 250317/6324, or reference Operation Celtic.

    Information can also be provided anonymously via Crime Stoppers on 0800 555 111.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Unlocking data to increase competition and choice

    Source: New Zealand Government

    Easier data sharing will lead to greater competition and better choice for consumers in key markets such as banking and electricity, thanks to today’s passing of the Customer and Product Data Bill, says Commerce and Consumer Affairs Minister Scott Simpson.
    “The days of manually searching the internet for the best electricity plan, or painstakingly going line by line through months of bank statements when applying for a mortgage, could soon be over. Using your own data shouldn’t be that difficult, and it won’t be in the future,” says Mr Simpson.
    “This is a monumental step for Kiwi consumers. It sets up the framework to give them greater ownership of their data, and more power and ease when it comes to shopping around for the best deal on utilities and other essential services.
    “It will also help grow New Zealand’s economy by breaking down the barriers for innovative technology companies, meaning they can also save time and money and offer new data-driven products and services.
    “Progressing this Bill was recommended by the Commerce Commission following its market study of the banking sector. We are on track to have open banking operational by the end of the year – well before the June 2026 target set by the Commission – with regulations specific to the sector to be confirmed in the coming weeks.
    “The next cab off the rank will be the electricity sector, to enable open electricity, and the legislation opens up possibilities in other sectors in future.
    “This legislation is very timely, with the media reporting just last week on exactly why a consumer data regime was needed. For instance, a Commerce Commission study found that nearly a third of mobile and broadband users have not switched providers because it was simply too hard.
    “Meanwhile in the electricity sector, comparison website Powerswitch says that because not all retailers are playing ball and sharing information, it is difficult to support people wanting to switch.
    “The data has always been there – but businesses holding it have had little incentive to invest in better data-sharing technology and agreements. We’re putting the power back into the hands of those who own the data: consumers.
    “I am excited to see the competition, choice, and innovation that this will unleash.”

    MIL OSI New Zealand News

  • MIL-OSI Submissions: Telco Sector – Japan multiplay service revenue to surpass $27 billion in 2029, forecasts GlobalData

    Source: GlobalData

    The total multiplay service revenue in Japan is set to increase at a compound annual growth rate (CAGR) of 1%  from $26.4 billion in 2024 to $27.7 billion in 2029 with the growing adoption triple- and quad-play services helping offset the anticipated decline in dualplay service revenues, reveals GlobalData, a leading data and analytics company.

    GlobalData’s Japan Multiplay Forecast (Q4 2024) reveals that the total multiplay service households in Japan will increase at a CAGR of 2.2% over the period 2024-2029, driven by the high-demand for bundled telecom services in the country, and continued increase in coverage and availability of high-speed fiber-broadband services that enable the delivery of high-quality service bundles to customers.

    Srikanth Vaidya, Telecom Analyst at GlobalData, says: “Doubleplay services will remain the most popular multiplay service category through the forecast period in terms of service adoption. However, its share in the total multiplay households will gradually drop from 75.8% in 2024 to 70.9% in 2029 as more subscribers start adopting tripleplay and quadplay service bundles.

    Tripleplay services category will see its share in the total multiplay-households grow from 20.6% in 2024 to 24.5% in 2029. Quadplay services, which attract highest average monthly- household spending among all the multiplay service categories, will also see strong growth in adoption, thereby boosting the overall multiplay service revenue in the country

    Vaidya concludes: “KDDI will lead the doubleplay market, by subscription share, through 2029. The operator is leveraging its fiber-to-the-home (FTTH) networks to accelerate multiplay services adoption and offers discounted doubleplay plans, with focus on reducing churn and increasing revenue-generating units (RGUs). NTT, on the other hand, will lead the tripleplay segment in terms of households through 2029.”

    About GlobalData

    4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

    MIL OSI – Submitted News

  • MIL-OSI New Zealand: Legislation supports continued safe operation of clubs and ranges

    Source: New Zealand Government

    Legislation passed today will support the continued safe operation of shooting clubs and shooting ranges, Associate Justice Minister Nicole McKee says. 

    “This is an important step towards modernising our firearms laws and ensuring shooting clubs and ranges are fairly regulated in a manner that supports public safety. 

    “The Arms (Shooting Clubs, Shooting Ranges, and Other Matters) Amendment Act 2025 was developed as part of the Government’s four phased approach to firearms reform. It provides regulatory relief to the operators of shooting clubs and ranges; while making sure the necessary tools remain in place to ensure public safety,” Mrs McKee says.

    The Act introduces several key changes to Part 6 of the Arms Act which include:

    • A new simpler enrolment system for non-pistol shooting clubs and ranges;
    • Decreased barriers to operating temporary non-pistol ranges;
    • Clarification on the timing of inspections; and
    • A range of minor changes to reduce compliance burdens.

    “The changes made to the Act simplify the regulatory requirements on shooting clubs and ranges, while maintaining public safety requirements. This will provide relief to club and range operators, who have struggled to comply with the unnecessary extra regulatory burden.”

    The Act was developed following consultation with members of the clubs and ranges community, firearms safety experts, and community stakeholders, as well as valuable input from the wider public through the Select Committee process. 

    Updates to the Arms Regulations 1992 to reflect the changes made in the Act are expected to come into effect once the Bill comes into force in three months’ time. 

    “We have listened to the concerns of New Zealanders and worked to create a law that prioritises safety while ensuring responsible licenced firearms owners are treated fairly.

    “This Act forms the second phase of the Government’s four phase approach to firearms reform, which will culminate in a complete rewrite of the Arms Act 1983,” Mrs McKee says.

    MIL OSI New Zealand News

  • MIL-OSI Russia: More broadcasts from the Moscow Zoo are now available on mos.ru

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    From March 26, during the zoo’s opening hours, users of the mos.ru portal will be able to see online what the Himalayan bears are doing on their walks, what the red panda is fed, and how the raccoons are having fun. Cameras are installed in the outdoor enclosures, and you can watch the video broadcasts daily.

    “With the launch of new broadcasts, more and more animals will become closer and more accessible to visitors of the mos.ru portal. You can watch our inhabitants during the zoo’s opening hours. Viewers can witness unique moments of feeding, games, training and social interaction between animals. This is not just an opportunity to watch rare and endangered species, but also a chance to immerse yourself in their world, understand the behavior and habits of animals,” said Svetlana Akulova, General Director of the Moscow Zoo.

    The broadcasts will allow you to observe for two Himalayan bears, female Fanya and male Vasya, living in the old territory of the zoo. They were taken from dealers at the end of 2022. The animals were in an extremely emaciated state, they were kept in cramped cages. Zoologists surrounded the clubfooted bears with round-the-clock care and developed an optimal diet for them. Gradually, the bears began to gain weight and recover. Now each of them lives in their own spacious enclosure. This year, Fanya went into hibernation for the first time in two years. Vasya needs more time to rebuild his biological rhythms; he did not sleep this winter.

    Nowadays, Himalayan bears are active during the daytime. In extreme cold or heat, the animals may go indoors.

    Thanks to the installed cameras it will be possible to observe andfor the red panda Ryzhik. The animal leads a predominantly crepuscular lifestyle. Ryzhik arrived in Moscow in the fall of 2015 from Poland. The male comes out of the house several times a day, mostly in the morning or early evening hours.

    Red pandas, also called fire foxes for their bright fur, are excellent tree climbers. However, they feed mainly on the ground. Although these animals are representatives of the order of predators, 95 percent of their diet consists of young leaves and bamboo shoots. The remaining five percent consists of various fruits, berries, mushrooms, bird eggs and even small rodents.

    Other inhabitants of the zoo, which can now be watched online on mos.ru, are: family of raccoons. This is Titi, a mother of many children, and her three children: Akim, Grusha, and the youngest, Shonya.

    There is a stream in the enclosure, in which the raccoons splash with visible pleasure, confirming their name. The animals are especially interested in the trees growing in the enclosure – the raccoons do not just climb them, they sleep high in the trees, curled up in a ball and from a distance resembling bird nests. There are many objects in their enclosure: ladders suspended between the trees, which the animals climb with pleasure, hollows in which they find many delicacies placed there by the zoo staff. In this way, the animals can use their abilities and demonstrate natural behavior when getting food.

    The Department of Information Technology added that video broadcasts are available to residents of the entire country. At the same time, users can not only watch their pets, but also learn more about the peculiarities of their life in their natural habitat.

    “Each animal on zoo.mos.ru has its own page, where you can not only watch a live broadcast from the enclosure, but also read interesting facts and get to know the animal better. Now the majority of visits are to the pages of everyone’s favorites – the little panda Katyusha and her parents Dindin and Zhui, the manul Timofey and the capybaras. You can watch the animals in real time from any device – a smartphone, tablet or computer,” said Boris Frolov, Deputy Head of the Department of Information Technology of the City of Moscow.

    Broadcasts from the Moscow Zoo enclosures have been launched on the mos.ru portal in the fall of 2024. Every day, visitors can observe the lives of the Pallas’s cat, giant pandas, lynxes, elephants, pygmy hippopotamuses, meerkats, honey badgers, capybaras and camelids, as well as gorillas and orangutans.

    Indian stingless bees appear at Moscow ZooSobyanin: Moscow Zoo takes first place in the world in species diversity

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/151793073/

    MIL OSI Russia News

  • MIL-Evening Report: ‘The bush calls us’: the defiant women who demanded a place on the walking track

    Source: The Conversation (Au and NZ) – By Ruby Ekkel, PhD student in Australian History, Australian National University

    Fairfax Corporation (1932)

    ➡️ View the full interactive version of this article here.

    Ruby Ekkel does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. ‘The bush calls us’: the defiant women who demanded a place on the walking track – https://theconversation.com/the-bush-calls-us-the-defiant-women-who-demanded-a-place-on-the-walking-track-241126

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI China: Death toll rises to 18 as deadly wildfires rage in S. Korea’s southeastern region

    Source: China State Council Information Office

    The death toll rose to 18, with 19 others injured, as deadly wildfires continued to rage in South Korea’s southeastern region, government compilation showed Wednesday.

    Since last Friday, medium and large wildfires have broken out in six regions, especially in Gyeongsang province, affecting at least 17,534 hectares of land, according to the central disaster and safety countermeasures headquarters.

    Firefighters struggled to contain the rapidly spreading blazes, fueled by strong and dry winds.

    Of the wounded, six people suffered serious injuries.

    The number of affected buildings and structures, such as houses, factories and cultural assets, climbed to 209, while more than 26,000 people remained evacuated.

    The country’s forest service raised the wildfire crisis alert to the highest level while thousands of firefighters as well as helicopters and vehicles were mobilized to combat the wildfires.

    The military also deployed service members and helicopters to help fight the blazes. 

    MIL OSI China News

  • MIL-OSI Australia: Interview with Peter Fegan, 4BC, Brisbance

    Source: Australian Parliamentary Secretary to the Minister for Industry

    Peter Fegan:

    It’s Labor’s $17 billion pledge. But is it enough to save the election? The Labor Party or the government has delivered its fourth Budget last night. Plenty of savings, but given the cost‑of‑living crisis, we’re in no position to bite the hand that could potentially feed us for the next 3 years, at least. Joining me on the line is the Treasurer, Jim Chalmers. Treasurer, it is always great to have your time on the programme.

    Jim Chalmers:

    Thanks for having me back on your show, Pete. Good morning.

    Fegan:

    $268 in tax cuts in the first year, which is 2026. That’s $538 in the second. You’ve conceded, Treasurer, that that is modest cuts. It equates to about $5 a week. You add in the Stage 3 tax cuts, that will be around $56 bucks a week. So, when you consider how much groceries, fuel, beer, health, childcare, aged care is; most Australians would say that $50 bucks doesn’t go very far at all.

    Chalmers:

    I understand that, Pete. I understand that there’s always an appetite to do more. My job is to make sure that we’re providing this cost‑of‑living relief in the most responsible way that we can. The tax cuts are an important part of that, that $50 a week in income taxes is all about helping people but so is strengthening Medicare because more bulk billing means less pressure on families.

    So are the energy rebates, the cheaper medicines, cutting student debt. There are a number of ways that we’re providing cost‑of‑living help in the Budget, but we’ve got to do that in the most responsible way. We know that there will always be calls to do more. We’re doing the most that we can afford to do for the time being.

    Fegan:

    Treasurer, I would argue what is missing from this Budget are tough decisions, serious structural reforms and addressing the elephant in the room. We know what that is, Treasurer. It’s spending. Now, there’s $40 billion set aside for decisions not yet announced. That means that the Prime Minister has another $40 billion up his sleeve to throw around during the election campaign. So, let’s just call this Budget what it is. It’s a Budget to win the election. Surely.

    Chalmers:

    I don’t agree with you, Pete. It’s a Budget to build the future and to help people with the cost of living and strengthen Medicare. Those are the 3 primary objectives of the Budget. It’s all about making our economy more resilient in the face of all this global economic uncertainty. That’s what’s motivated us here when it comes to this Budget.

    Now, when it comes to spending, about half of the new spending in the Budget is the tax cuts. A big proportion of the rest of it was already provisioned for in the mid‑year Budget update. We’ve been responsible, we’ve gone for what’s affordable and we’ve done that in the context where we have taken difficult decisions. There are billions of dollars in savings.

    There is much less debt this year in the Budget than when we came to office 3 years ago in terms of the $177 billion less debt this year. We are making good progress in the budget. We’re making especially good progress in the economy more broadly. We know that that doesn’t always immediately translate into how people are feeling and faring in the economy. That’s why the cost‑of‑living help is so important.

    Fegan:

    Migration. 260,000 new migrants will flood into Australia by the end of July, the majority of which will come into Australia. Now Treasurer, historically yes, migration does help fuel economy, we know that. But unfortunately, here in Australia we have a living crisis, we have a housing crisis.

    We have a major supply issue here in Queensland. You know that, you live in Logan. You know how bad supply is at the moment. Are you putting them up? Because I don’t know where 260,000 new migrants will go. I know that they’ll work. But we’re in a housing crisis. It doesn’t make sense to me.

    Chalmers:

    Two important things about that, Pete. Firstly, we’re investing $33 billion in building more homes.

    Fegan:

    But you haven’t built any yet though, Treasurer. That’s the issue. You haven’t built any new homes yet. That’s the big issue here. You can invest all your money, all the money you want. You can’t put them in camps until they’re built.

    Chalmers:

    We are building new homes. We’re making a very substantial investment in making sure that’s the case. Secondly, you refer to those migration numbers. Those migration numbers have actually been very substantially managed down from their peak after COVID. When Australia more or less shut down during COVID in the year or 2 after that, couple of years after that, there was a big rebound in the net overseas migration number spanning 2 governments.

    We’ve been able to manage that down to more normal levels. That is what you’re seeing in the budget. That number that you refer to is right, but it is much lower, very, very substantially lower than it was a couple of years ago.

    Fegan:

    Okay, Treasurer, this is an interesting one and I think all eyes will be on this when it comes to the election.

    Let’s talk energy.

    Okay, Treasurer, the Prime Minister and yourself and all your Ministers all maintain that energy prices are lower under a Labor government. So, why has the government, if that’s the case – if we are paying less for energy, why has the government spent $6.8 billion on energy subsidies to date? Is that not an abject failure of the last 3 years? And your energy policy, why give Australians another $150 bucks if, according to Labor, energy is affordable? I don’t understand it. I mean, if it is affordable, I don’t need the $150 bucks.

    Chalmers:

    This is another important way that we’re helping people with the cost of living. We know that in the last year in the official inflation data, we were able to get electricity prices down. That’s a good thing. That’s been a combination of rebates, but also the efforts that we’re making to introduce more cleaner and cheaper energy into the system.

    If you think about the independent experts from a body called AEMO, what they talk about is what’s pushing electricity prices up is actually the old parts of the system, the traditional parts of the system, becoming less and less reliable.

    We’re providing these energy rebates in the near term to take some of the sting out of these electricity bills while people are under cost‑of‑living pressure. At the same time, we’re introducing more cleaner and cheaper, more reliable energy into the system because that’s the best way to put downward pressure on energy prices over the medium and long term.

    Fegan:

    Yeah, there’s no. But there’s no funding for green energy. There’s no funding for net zero.

    Chalmers:

    That’s not true, Pete.

    Fegan:

    Well, there’s no extra funding. Is there, in this Budget? Is there extra investment in –

    Chalmers:

    Yeah, there’s some extra investment out of an innovation.

    Fegan:

    How much?

    Chalmers:

    For about one and a half billion, I think from memory.

    Fegan:

    But it’s not in Budget. Is it in Budget papers released?

    Chalmers:

    Yeah, it’s in the Budget papers. We’ve also recapitalised the Clean Energy Finance Corporation because that’s playing an important role as well, financing cleaner and cheaper energy.

    I accept your broader point. Electricity prices are a pressure on family budgets we’re seeing around the world. We’re not immune from that. The energy bill rebates are an important, responsible way that we take some of the edge off that while we introduce more cleaner and cheaper, and more reliable energy into the system.

    Fegan:

    Treasurer, why should Australians trust Anthony Albanese and Jim Chalmers for another 3 years?

    Chalmers:

    I think after the Coalition’s brain explosion on tax last night, the choice at the election is becoming absolutely crystal clear now. We’re helping people as a Labor government with the cost of living by cutting their taxes. Peter Dutton has an agenda of secret cuts which will make people worse off. Now, Peter Dutton wants to cut everything except people’s taxes, and that’s really the contest which was set up last night when Angus Taylor, quite bizarrely, said that he would oppose our cost‑of‑living help.

    What we’ve seen over the course of the last 3 years is every time we’ve tried to help people with the cost of living, our opponents have opposed that. Peter Dutton and Angus Taylor have both said the best predictor of future performance is past performance. They have opposed cost‑of‑living help; they’re opposing these cost‑of‑living tax cuts in the Budget last night.

    I think that sets up a very clear choice. If people want a Labor government helping with the cost of living, managing the budget responsibly, investing in building Australia’s future, they can choose that over Peter Dutton, who has secret cuts which will make people worse off, and that’s because he wants to cut everything except taxes.

    Fegan:

    Do you accept that Australians don’t trust you?

    Chalmers:

    I don’t necessarily accept that, Pete. I mean, that’s a judgement for people to make. I understand that, and it’s something that journalists and commentators can speculate about. What we did last night was keep faith with the Australian people and do justice to the progress and the sacrifices that they have made. Together as Australians, we’ve made a lot of progress in our economy. We’ve got –

    Fegan:

    But a trillion dollars in debt. A trillion dollars, though, Treasurer?

    Chalmers:

    It’s $177 billion this year lower than what it was when we came to office for this year. That’s a really important thing. You will read a lot of stuff in the papers about debt and deficits. Don’t forget, we delivered 2 surpluses, we shrunk the deficit, we got the debt down, we’re saving on interest costs.

    Fegan:

    But it’s still a trillion dollars. You grilled the former government on this. It’s still a trillion dollars. And I know it’s not all your fault, but it’s a trillion dollars. We’ve got kids that need to buy homes in 20 years’ time.

    Chalmers:

    That’s why we’re investing substantially in housing, $33 billion program. On the debt, don’t forget, we would have already had a trillion dollars of debt under our opponents. It’s $177 billion lower this year. I think that’s too easily dismissed and diminished the progress we’ve made in the budget. Same goes for the progress we made in the economy together as Australians.

    As I was saying a moment ago, we’ve got growth rebounding solidly in our economy: inflation down, real wages up, unemployment is low, interest rates have started to be cut, we’ve got the debt down. This is good progress, and we would be crazy to interrupt that progress with Peter Dutton’s secret cuts which would make Australians worse off.

    Fegan:

    What’s happening with the Coalition at the moment, Treasurer? Seems to be some rumblings. I hear or see reports yesterday that Peter Dutton had to lay down the law, that David Littleproud got pretty fired up.

    Chalmers:

    Yeah, they got fired up because basically the Coalition members and senators are forming an orderly queue to say that Angus Taylor’s not up to the job. It’s quite bizarre that Angus Taylor’s asking Australians to take him seriously when his own colleagues don’t. He’s been found out and he’s been found wanting.

    I think genuinely, it was a proper brain explosion we saw last night when he said, at a time when people are under cost‑of‑living pressures, they won’t support our tax cuts to help people meet the cost of living. I think that was a bizarre decision. I think it will come back to haunt him, and I think his colleagues will have a view about it behind the scenes.

    Fegan:

    Treasurer, you’re on the front page of every paper today, but can I just say congratulations to you because you are drinking out of a Brisbane Broncos mug. How good is that?

    Chalmers:

    I get a bit of feedback about that. Mostly from Dolphins, mostly from people –

    Fegan:

    Well, do you know what? You’re still a staunch. You’re still a staunch Bronco supporter. Right?

    Chalmers:

    Pick and stick. Absolutely.

    Fegan:

    Thank you.

    Chalmers:

    Broncos until I die, Pete.

    Fegan:

    Because I see that Peter Dutton has changed his tune a little bit. He’s now, well, Dolphins is in his electorate. A little bit of his electorate. Well, I don’t know.

    Chalmers:

    Right. I’m not sure about that. In fairness to him, I’m not sure about that. I’m certainly, I will always be a very enthusiastic supporter of the Brisbane Broncos. I still remember their first game in the comp in 1988 as a little tacker. I’m looking forward to watching the Battle of Brisbane on Friday night. Always a good contest.

    Fegan:

    Go the Broncos. Yeah, exactly. Go the Broncos. Good on you, Treasurer. Great to have your company this morning.

    Chalmers:

    Nice to talk to you again, Pete. All the best.

    Fegan:

    There he is, the Treasurer, Jim Chalmers.

    MIL OSI News

  • MIL-OSI Australia: Regional Ministerial Budget Statement 2025-26

    Source: Workplace Gender Equality Agency

    On behalf of the Albanese Labor Government, I’m proud to deliver our fourth Regional Ministerial Budget Statement.

    I’d like to acknowledge the traditional custodians of where we are today, and pay my respects to their Elders past, present and emerging.

    Mr Speaker, across our first term in Government, our message to regional Australians has been loud and clear – your postcode shouldn’t be a barrier.

    Just because you grow up in Bega on the NSW Far South Coast, or in Gladstone in Central Queensland, and just because you live at Mount Gambier in regional South Australia, or in the Pilbara Region in outback WA – doesn’t mean that the services, and the opportunities available to you should be second best.

    I say this as a proud regional Member of this place, and on behalf of my fantastic regional colleagues here with me today. 

    I say this as someone that’s always lived in our regions – from Traralgon in regional Victoria, to Merimbula on the NSW Far South Coast – where I watched my parents work hard every day to build a small business, and to provide our family with a better life.

    A regional community where I myself now run a small business with my husband, and where we’re raising our kids.

    And I say this as someone that’s had the privilege of spending a lot of time talking to regional people across Australia – both as the Member for the Mighty Eden-Monaro, and as Minister for Regional Development, Local Government and Territories.

    From the Hunter region in NSW, Caboolture in regional Queensland, Devonport in Tasmania – to communities across the 42,000 square kilometres in my electorate.

    Regional Australia is a great place to live, work, study, visit and invest – and I wouldn’t live anywhere else.

    Our regions generate a third of the nation’s economic output, and there’s so many opportunities that our Government wants to take advantage of.

    But you’d be living under a rock if you said life outside of our big cities doesn’t come without its unique challenges – it absolutely does. 

    Unlike those opposite though, on this side of the House we’re not shying away from that.

    I’m proud to be part of a Government that across its first term, has delivered record investments to improve the reliability and the accessibility of critical services that regional people rely on.

    To support more regional people to work and train closer to home – because you shouldn’t have to pack your bags to build your career. 

    To build more things in our own backyard, investing in the hard-work and know-how of regional people.

    To give regional Australians more support to buy or rent a home.

    To support local businesses and local economies to grow – with small businesses in particular the backbone of our regions.

    To ensure the local roads we drive every day to drop the kids off at school and to get to work, are safe, and keep pace with growing communities.

    To improve our major highways linking our cities to our regions, so more visitors support our local businesses, and experience everything we have to offer.

    To keep our regions connected and better prepared for natural disasters – something many regional communities, including across Eden-Monaro, have needed to rebuild from.

    And most importantly, to relieve immediate pressures on regional families and businesses.

    Which let’s not forget, those opposite talk a big game on – despite opposing every single cost of living measure to date, and committing to tearing apart every measure that’ll support regional Australians into the future.

    Because while we’re delivering record investments to Build Regional Australia’s Future, the wreckers opposite are determined to leave regional communities which aren’t the right colour on their spreadsheets behind.

    The Albanese Government is delivering better outcomes for every regional community – because we’re addressing the challenges, harnessing the opportunities, and taking the needs of our regions seriously. 

    Through our Regional Investment Framework, we’re ensuring targeted investments support regional people, the places they live, the services they need, and the industries that stimulate local economies.

    With investments through the 2025-26 Budget building on everything we’ve delivered across our first term. 

    Our number one priority has been easing pressures faced by regional families and businesses today, while supporting more work, training and economic opportunities outside of our big cites. 

    We’ve delivered tax cuts for every regional taxpayer – a huge impact for taxpayers in my own electorate of Eden-Monaro, putting an average of $1,633 back into their pockets, with another two tax cuts on the way – something those opposite just voted against.

    We’ve delivered $300 in Energy Bill Relief to millions of households and $325 to small businesses, along with cheaper childcare and cheaper medicines.

    We’ve cut $3 billion in student debt, with a further 20 per cent to be cut if we’re re-elected.

    And we’ve supported over 127,000 free TAFE places in our regions – from construction courses to childcare.

    We’re getting more people into industries screaming out for workers, after those opposite gutted the vocational education system during their failed decade.

    We’ve introduced legislation to make free TAFE permanent – something those opposite have said they’ll repeal, because as the Deputy Leader of the Opposition said in this very chamber – “if you don’t pay for it, you don’t value it.”

    But I want my kids and every regional person to know – your postcode and your bank balance shouldn’t limit your potential.

    Through this Budget we’ll provide additional cost-of-living relief, along with increased investments to remove study barriers.

    $1.8 billion to provide all households, and around one million small businesses, with an additional $150 in Energy Bill Relief.

    $800 million to expand our Help to Buy scheme to support more people get into their own home – including in our regions.

    This builds on the 32,000 regional Australians we’ve already helped into home ownership, through the Regional Home Guarantee.

    $626.9 million to support $10,000 incentive payments for construction sector apprentices – with $7.0 million to increase the Living Away from Home Allowance for apprentices.

    As an operator of a small plumbing business that hires apprentices, and having recently spent time with bricklaying apprentices at Queanbeyan – I know that every cent counts when you’re starting out, especially when you’re living away from home.

    That’s why we’re boosting apprentice wages and easing cost-of-living pressures – because we value their hard work, and we know that building this workforce is essential to delivering more regional homes.

    My mum, dad, brother, sister and husband all went to TAFE, which is why I’m incredibly proud to be part of a Government that’s strengthening the sector – and ensuring more regional people can build a better future. 

    Through this Budget, we’re delivering $407.5 million to states and territories, as part of the Better and Fairer Schools Agreement.

    Record funding to give our teachers, including in our regional schools, more support – to lift education standards, and to better support students from kindergarten through to year 12. 

    And if you want to go onto further study, existing investments like the 56 Regional University Study Hubs we’re delivering – from Port Augusta in South Australia, to Goulburn in my own electorate – will mean you don’t have to leave the region you love.

    A further $33.6 million will also flow to the Clontarf Foundation to support up to 12,500 First Nations boys and young men access better education support.

    We’re delivering record investments to continue improving the affordability and accessibility of regional healthcare – because when you need to see the doctor, and when you need to buy your script, your street address and wallet shouldn’t stop you. 

    We’ve already delivered $3.5 billion to triple the bulk billing incentive, supporting over 2.4 million additional claims across regional Australia.

    Through this Budget, we’re investing an additional $7.9 billion to deliver more bulk billing to all Australians, including in our regions.

    Having delivered the largest cut to the cost of medicines in the history of the Pharmaceutical Benefits Scheme, we’re now making cheaper medicines even cheaper.

    $689 million to bring a PBS script down to $25, keeping more money in the hip pockets of regional Australians – with our pensioners and concession cardholders to continue paying $7.70 for PBS medicines until 2030.

    $792.9 million to deliver more choice, lower costs and better health care for women – including the first PBS listing for new oral contraceptive pills in more than 30 years.

    Along with more bulk billing for long-term contraceptives, more endometriosis and pelvic pain clinics to treat more conditions, and more Medicare support for women experiencing menopause. 

    Regional health and aged care were left in crisis under those opposite – a mess the Albanese Government has been cleaning up from day one.

    We’ve delivered $17.7 billion to fund increases to the minimum award wage for aged care workers – to not only support and retain these critical workers – but to ensure that our loved ones get the care they need, as they get older.

    We’re delivering an additional $1.8 billion to strengthen our public hospitals and to reduce waiting times across Australia, bringing our hospital funding to a record $33.9 billion in 2025-26.

    We’ve also increased the number of regional GP training places, along with waiving HECS for doctors and nurses that work in our regions – getting more skilled workers where we need them most.

    Through this Budget, we’re investing $662.6 million to grow our health workforce.

    There will be hundreds more GP and rural generalist training places to grow the pipeline of future GPs – with fairer salary incentives for junior doctors who choose general practice as their specialty.

    100 more Commonwealth Supported Places for medical students a year from 2026, increasing to 150 more a year by 2028 – with a focus on encouraging students to pursue general practice in our regions.

    And hundreds of scholarships for nurses and midwives, to help meet our current and future demands.

    A re-elected Albanese Government will deliver another 50 Medicare Urgent Care Clinics across Australia, from Burnie in Tasmania, to Bega in my own electorate – with our $644.3 million investment.

    This builds on the 87 Medicare Urgent Care Clinics we’ve already delivered, which are making a huge difference.

    With 48 of these 137 clinics to be in our regions– from Broome in Western Australia, Townsville in Queensland, to Tamworth in New South Wales.

    The Urgent Care Clinic we delivered in Queanbeyan has already supported over 7,000 fully bulk billed presentations.

    Rusty, a local constituent of mine told me about the huge difference it made for him, when he had an infection.

    He walked right into the clinic and received the help he needed, for free – a service that’s also supported his children and grandchildren.

    As Rusty said, this type of clinic is critical to taking pressure off our hospitals – as we continue to rebuild the health sector.

    But regional services like this will cease to exist under those opposite, because you only have to look at the billions cut from Medicare by the Leader of the Opposition when he was Health Minister, to know their only plan for Medicare is cuts.

    No government has done more for regional services than the Albanese Government – but healthcare wasn’t the only service completely abandoned during the wasted decade by those opposite.

    We’re already investing $2.2 billion to strengthen regional communications, particularly in disaster-prone areas – after programs like the Mobile Black Spot Program were pork-barrelled by those opposite.

    Through our record investments in the NBN, we’ve fixed half of some streets being stuck on the unreliable copper network they rolled out, including just 15 minutes down the road at Jerrabomberra.

    Because it actually takes a little bit more than a string and a can to run a small business, and to work and study from home.

    In this Budget, we’re providing an additional $3.0 billion in equity funding to NBN Co to complete upgrades for all remaining Fibre to the Node premises, including connecting an additional 334,000 regional premises to high speed internet.

    A service that we can’t forget, would be sold off to the highest bidder under those opposite.

    We’re also introducing a Universal Outdoor Mobile Obligation – requiring telcos to provide access to mobile voice and SMS almost everywhere across Australia – which will have huge benefits for regional and remote communities, particularly during emergencies and disasters. 

    Natural disasters are something my own electorate of Eden-Monaro has felt deeply, which is why I’m proud the National Emergency Management Agency that we launched continues to support regional communities – most recently in Queensland and NSW during Ex-Tropical Cyclone Alfred.

    That’s on top of our $1 billion Disaster Ready Fund continuing to support regional communities to be better prepared.

    And our additional $35 million investment to boost our national aerial fleet – giving regional communities more emergency support when they need it most.

    But it’s not just during disasters when our regions need reliable aviation.

    Despite the Leader of the Nationals in the Senate telling Sky News just last week that the Opposition had been fighting for a more competitive aviation sector – the reality is they’ve sat idle at the departure gate. 

    Those opposite did nothing with the Sydney Airports Slot Review handed to them in 2021 – something we’ve responded to with our Aviation White Paper.

    And they’ve said that keeping Rex Airlines’ regional routes operating during the voluntary administration process is sabotaging the sale process.

    I’m proud the Albanese Government has kept Rex’s regional flights in the air, with an $80 million loan facility to Rex Administrators, and additional support to reduce the debt Rex owes.

    Because for regional communities like mine, these flights are critical to our local economy, accessing important health services, and for getting around.

    The reality of living in our regions is we need to travel longer for some services, which is why we’ll continue standing up for a strong regional aviation sector.

    But travelling by car is generally how we get around, which is why we’ve already increased local road funding for every council.

    Roads to Recovery funding is going up from $500 million to $1 billion per year, road Black Spot funding increasing to $150 million per year, we’ve launched our $200 million per year Safer Local Roads and Infrastructure Program – and we’ve continued investing in major transport projects.

    Because every local community should have confidence in the roads they’re driving on.

    In his Budget reply last year, the Leader of the Nationals said those opposite would deliver the strong infrastructure funding pipeline that our regional communities need. 

    But let’s not forget, they were responsible for an infrastructure pipeline that below out from 150 projects to 800 projects, without a single dollar extra being added to the Budget, and without the delivery. 

    Regional communities deserve better than promises in press release with no follow through, which is why we continue to deliver critical projects to Build Regional Australia’s Future.

    Funding through this Budget includes $7.2 billion for Bruce Highway safety upgrades in Queensland, $200 million towards duplicating the Stuart Highway from Darwin to Katherine.

    $40 million for the Main South Road Upgrade in South Australia, and $1.1 billion towards upgrades along the Western Freeway in Victoria.

    After colour-coded spreadsheets from those opposite, we’ve delivered on our commitment to establish transparent grant programs that every postcode can apply for.

    Our $600 million Growing Regions Program is already supporting 112 projects, with 29 projects supported under our $400 million Regional Precincts and Partnerships Program so far. 

    I had the pleasure of visiting Wagga’s Lake Albert – one of this region’s most popular recreational sites, which will be completely transformed thanks to $4.4 million in Growing Regions Funding.

    Projects like this are making our regions better places to live, to work and to invest – but having more housing to attract and retain workers is something every community tells me they need.

    We’ve already committed $32 billion in housing measures, including over 13,000 homes nationally under the first round of our Housing Australia Future Fund – many of these in our regions.

    That’s more than those opposite delivered in an entire decade – when they had no plan for building, and their only idea for turning more keys was letting people raid their super for a deposit. 

    To their credit, they’ve now said they’ll fund enabling infrastructure – labelling this a fantastic idea.

    So fantastic, we’re already doing it – through our $1.5 billion Housing Support Program.

    Including $27.2 million to support upgrading Marulan’s sewage treatment in the Mighty Eden-Monaro – laying the foundations for more housing.

    Through this Budget, we’re delivering $54 million to turbocharge advanced manufacturing of prefabricated and modular homes, getting more homes into our regions where we need them most – lifting our total housing commitments to $33 billion. 

    More housing is a key part of how we’re Building Regional Australia’s Future, as is supporting our regional businesses and regional economies to grow.

    Under those opposite, car manufacturers left our shores, leaving our regional people behind. 

    But Labor has always had the back of regional manufacturing, and we’ve shown that again with our new investment of $2.4 billion with the South Australian Government to save the Whyalla Steelworks.

    Supporting 1,100 direct workers, and encouraging more investment into Australian made steel. 

    This builds on our existing $22.7 billion Future Made in Australia agenda, ensuring we build more in our own backyard – which includes over $500 million to boost Australia’s battery manufacturing capabilities, and $1 billion to supercharge the production of solar panels in our regions.

    Our investments are putting regional communities at the centre of industries of the future – unlocking more secure and well-paid regional jobs, and ensuring that we train and retrain regional workforces.

    This includes $38.2 million to boost the diversity of our STEM workforce, with a focus on supporting more women secure jobs in these critical industries.

    Through this Budget, we’re delivering further investments to Build Regional Australia’s Future – by leveraging the competitive advantages that come with our vast energy resources, world-leading agricultural sector, and regional innovation.

    $250.0 million to accelerate the pace of Australia’s growing domestic Low Carbon Liquid Fuels industry – helping to drive economic growth and jobs in regional areas.

    $1.0 billion under our Green Iron Investment Fund to boost green iron manufacturing in our regions.

    This builds on our existing commitment of $2.0 billion to support aluminium smelters transition to renewables – in places like Portland in Victoria, Tomago in NSW, and in Queensland’s Gladstone region.

    From our factories to our fields, we’re backing our regions – with $11.0 million to tackle established pests and weeds in our agriculture and forestry sectors – keeping them productive

    An additional $20 million for a new round of the On Farm Connectivity Program so farmers can use the latest technology to make their work more efficient.  

    And $20.0 million to encourage more Australians to buy Australian-made products, which will have huge benefits for regional economies – because so much of what we love and rely on comes from our regions.

    In his Budget reply last year, the Leader of the Nationals said the Opposition will take decisive action to give regional Australians a fair go.

    But all we’ve seen since then is those opposite continue to vote against every single cost of living measure, while petrifying regional communities with their Nuclear thought bubble.

    An idea that was announced with zero consultation, and most importantly – one that will deliver zero savings for regional Australians and their power bills. 

    Since my last Regional Budget Statement, the Albanese Government has continued to relieve pressures on regional families and businesses, while improving access to the services and support regional people rely on – regardless of their postcode.

    Through our 2025-26 Budget we’re delivering more energy bill relief, making cheaper medicines even cheaper, and providing extra support to get more regional Australians into their own home.

    We’re strengthening Medicare and expanding regional health services, delivering further investments to boost regional connectivity, and investing in more support to help build workforces in our in-demand sectors.

    That’s because only the Albanese Government is serious about Building Regional Australia’s Future.

    MIL OSI News

  • MIL-OSI: GAM announces 2024 full year results

    Source: GlobeNewswire (MIL-OSI)

    26 March 2025

    PRESS RELEASE

    Ad hoc announcement pursuant to Art. 53 Listing Rules:

    GAM announces 2024 full year results

    Strong progress in implementing turnaround strategy. GAM continues to target profitability in fiscal year 2026.

    Financial Highlights for Full Year 2024

    • IFRS net loss of CHF 70.9 million compared to CHF 82.1 million for FY 2023.
    • Underlying loss before tax of CHF 66.8 million compared to CHF 49.5 million for FY 2023.
    • AuM at CHF 16.3 billion compared to CHF 19.3 billion as at 31 December 2023.
    • Cost optimisation initiatives across the business resulted in a 20% decrease in underlying expenses compared to FY 2023. The full impact of these cost optimisation initiatives will be reflected in FY 2025 and beyond.
    • Successful CHF 100 million rights issue completed in November 2024, which resulted in our anchor shareholder, NJJ Holding SAS (through its holding in Rock Investment SAS (“Rock”)) becoming our majority shareholder.
    • The maturity of the existing CHF 100 million Rock loan facility has been extended until 31 December 2027.
    • GAM is now a highly scalable pure investment platform with strong global distribution capabilities focusing on three core areas to drive sustainable growth and profitability: Specialist Active Investing, Alternative Investing and Wealth Management.
    • GAM continues to target profitability in fiscal year 2026.

    Strategic Highlights

    • Launched GAM Alternatives, providing access to in-house and third-party alternative managers focusing on absolute return strategies and best-in-class talent.
    • A new, high performing and successful European Equity team joins GAM in 2025.
    • Partnering with Sun Hung Kai & Co. Ltd to drive growth and enhance our distribution capabilities across Greater China including Hong Kong, mainland China, Taiwan, and Macau.
    • In 2025, GAM will continue to partner with best-in-class external managers, to include the development of new products and the distribution of their own existing products to GAM clients.

    Elmar Zumbuehl, Group CEO at GAM said: “We have made strong progress in implementing GAM’s turnaround strategy and have now evolved into being a pure play investment management firm, but we are not finished yet. The cost optimisation initiatives implemented in 2024 will yield their full benefit in 2025 and beyond. While we stay focused on further cost optimisation, our main emphasis is growing our AuM and revenues as we continue our turnaround. With an unwavering commitment to our clients, and an expanding suite of innovative and distinctive products, we continue to build positive momentum and strengthen our market position. Backed by our majority shareholder, we continue to target profitability in fiscal year 2026 and remain focussed on delivering for our clients and all our stakeholders.”

    Summary Financials

    In 2024, we reported IFRS net loss after tax of CHF 70.9 million, compared with an IFRS net loss after tax of CHF 82.1 million in 2023. The loss in 2024 was mainly driven by the underlying net loss after tax of CHF 66.9 million.

    Please refer to the ‘Financial Results for FY 2024’ section later in this press release for full information.

    Financial Strength

    In November 2024, GAM completed its CHF 100 million fully underwritten ordinary capital increase by way of a rights issue to support the implementation of GAM’s strategy and provide long-term financial stability. Given Rock’s underwriting commitment, NJJ Holding SA (indirectly) is now the majority shareholder of GAM following the rights issue.

    The existing CHF 100 million Rock loan facility remains in place with its maturity extended to 31 December 2027.

    Strategy Update

    GAM’s strategy is designed to achieve sustainable growth and profitability by delivering best possible investment performance and exemplary service for our clients by focusing on our Investment and Wealth Management capabilities. The four pillars of our strategy remain:

    • Focusing on clients in existing core markets;
    • Amplifying and growing core active equity, fixed income and multi-asset strategies by investing in talent and product ideas;
    • Diversifying into new investment product areas and our Wealth Management offering by leveraging GAM’s heritage in active management, building strategic partnerships, and its alternatives and hedge funds platform; and
    • Enhancing effectiveness by reducing complexity.

    GAM is now focusing exclusively on its Investment (Specialist Active and Alternatives) and Wealth Management businesses, expanding its distribution reach and capabilities, amplifying its core active strategies, and diversifying into new product areas, including building out our higher margin alternatives capabilities.

    We have made strong progress throughout 2024 on our four-pillar strategy to transform GAM into a focused, client-centric, and profitable business.

    Focusing on clients

    Focusing on our clients in our existing core markets has been the most important way to rebuild GAM. In key markets where we have clients, but lack scalable distribution, we have, and will continue to, add partnerships to support our growth strategy and provide a broader range of client’s access to unparalleled investment expertise, opportunities, and exceptional outcomes across specialist active and alternative investment strategies.

    We established a strategic alliance with Sun Hung Kai & Co. Ltd. to grow our client base, distribute our products, and innovate our alternatives offering across the Greater China region, including Hong Kong, mainland China, Taiwan, and Macau.

    We have also enhanced our regional presence and client coverage by hiring new Heads of Distribution across Switzerland, Germany, Austria, Iberia, the UK, Australia, New Zealand, and France to drive our local market presence. This significant investment into our client facing teams will enable GAM to provide clients with excellent local contacts, strong relationship management and access to unparalleled investment expertise targeting exceptional outcomes.

    We additionally expanded our client reach through opening a second US office in Miami to cover the US international and Latin American markets and we are close to gaining customary approvals to open our planned branches in Paris and Milan.

    Amplifying and growing core active equity, fixed income, and multi-asset strategies by investing in talent and product ideas

    We are enhancing our capabilities by recruiting first-class investment talent in alternatives, systematic and equities teams.

    We have established a multi-asset centre of excellence in a global team to optimise all our multi-asset investment capabilities, enhance client outcomes, and align with evolving market dynamics and client needs. The high quality and excellent performance of this team will allow GAM to grow its wealth management business.

    In February 2025, we announced the hiring of three high performing and successful European Equity team members from Janus Henderson Investors. These strategic hires underscore GAM’s steadfast dedication to providing clients with access to unparalleled investment expertise and exceptional outcomes. The team brings extensive experience, having managed over EUR 6.5 billion in European Equity funds on behalf of institutional and retail clients globally.

    In addition, we have strengthened our sustainability and stewardship practices, meeting the principles of the UK and Swiss Stewardship Codes. Today GAM released its 2024 Sustainability Report which is available at www.gam.com

    Diversifying into new investment products while expanding the wealth management offering by leveraging GAM’s heritage in active management, strategic partnerships, and its alternatives and hedge funds platform

    Randel Freeman joined GAM in 2024 as Co-head / Co-CIO of GAM Alternatives to build out our alternative investments platform to meet growing investor demand with differentiated offerings. In addition, in 2025, we hired two senior sales specialists with deep experience in Alternatives distribution.

    In 2024, we launched GAM funds to introduce and distribute Avenue Capital’s Sports Opportunities fund, plus partnered with Arcus Investment to distribute their Japanese long/short equities fund. GAM also partnered with world leading Trafigura Group’s subsidiary Galena Asset Management to manage the GAM Commodities fund providing best-in-class sector expertise. This provides our clients access to exclusive and attractive commodity investment opportunities.

    We are launching the GAM LSA Private Shares strategy in Europe to provide access for European clients to this award-winning evergreen, late-stage private equity fund.

    Throughout 2025, GAM will be assessing M&A opportunities to enhance existing offerings, attracting best-in-class long-term strategic partnerships, and recruiting top talent to our core business areas globally.

    Enhancing effectiveness by reducing complexity

    Following the transfer of our fund services business for third-party funds we also successfully transitioned our Luxembourg, Irish and Swiss fund management company (ManCo) activities to Apex Group and 1741 Group in Q4 2024. In addition, we consolidated our operations onto our cloud based SimCorp investment management platform. GAM now operates on a global platform that delivers operational efficiencies.

    These implementations pave the way to a much less complex operating model underpinning and delivering best outcomes for our clients.

    GAM is now a highly scalable global investment platform with strong global distribution capabilities focusing on three core areas to drive sustainable growth and profitability: Specialist Active Investing, Alternative Investing and Wealth Management.

    Business Areas

    GAM Investments is focused on three core business areas to drive sustainable growth and profitability:

    • GAM Specialist Active: Deep expertise, experience and specialisms unlocking core and niche returns in equities, fixed income, and multi-asset investing;
    • GAM Alternatives: Access to in-house and third-party alternative investment managers focusing on absolute return strategies and best-in-class talent; and
    • GAM Wealth Management: Multi-asset solutions with tailored portfolios for high-net-worth individuals, charities and trusts, utilising best-of-breed GAM and third-party products.

    These three core business areas share and benefit from GAM’s global platform and agile operating model and modern technology.

    Investment Performance

    GAM has continued to deliver strong overall investment performance across our diverse and distinctive products, with 64% of assets under management (AuM) outperforming their three-year benchmark and 89% outperforming their five-year benchmark, as at 31 December 2024. Despite some weaker short-term performance in equities, the longer-term 5-year performance remains strong.

    Percentage of GAM Fund AuM Outperforming Benchmark

        3 years 3 years 5 years 5 years
    Business Area Asset Class 31 Dec 2024 31 Dec 2023 31 Dec 2024 31 Dec 2023
    Specialist Active Fixed income 94% 98% 95% 91%
    Specialist Active Equity 1% 39% 79% 59%
    Alternatives Alternatives 60% 73% 75% 96%
    Total   64% 78% 89% 81%

    % of AuM in funds outperforming their benchmark (excluding mandates and segregated accounts) across our business areas. Three- and five-year investment performance based on applicable AuM of CHF 9.0 billion and CHF 9.0 billion, respectively.

    Compared to our peer group performance remained strong, 66% of AuM outperformed their three-year Morningstar peer group and 82% outperformed their five-year Morningstar peer group, as at 31 December 2024.

    Percentage of GAM Fund AuM Outperforming Morningstar Peer Group

        3 years 3 years 5 years 5 years
    Business Area Asset Class 31 Dec 2024 31 Dec 2023 31 Dec 2024 31 Dec 2023
    Specialist Active Fixed income 61% 53% 60% 50%
    Specialist Active Equity 20% 51% 89% 89%
    Alternatives Alternatives 91% 89% 95% 96%
    Total   66% 66% 82% 76%

    GAM continues to be recognised for its investment performance, including having been awarded the overall best European small group 2025 by Lipper. Four GAM funds (including two funds of our Swiss Equity strategy) won Lipper’s 2025 top performance awards across multiple countries. For the second time, at the Citywire Investment Performance Awards, GAM Multi-asset won the Best Large Firm Award. GAM won the Wealth Management PAM 2024 award for its growth portfolios. GAM’s Sustainable Climate Bond strategy won and was chosen as the best ESG Investment Fund in the Green, Social and Sustainability Bonds category at the ESG Investing Awards 2024. For further details on these and other awards please visit http://www.gam.com/awards.

    Assets Under Management and Net Flows by Business Area

    Total AuM were CHF 16.3 billion as at 31 December 2024, compared to CHF 19.3 billion as at 31 December 2023. Net outflows of CHF 4.4 billion were partially offset by positive market and foreign exchange movements of CHF 2.0 billion.

    Business Area Opening AuM
    1 Jan 2024
    Net
    flows
    Disposal(1) Market/FX
    movements
    Closing AuM
    31 Dec 2024
    Specialist Active 17.5 (3.9) (0.6) 1.9 14.9
    Alternatives 0.9 (0.4)   0.5
    Wealth Management 0.9 (0.1)   0.1 0.9
    Total 19.3 (4.4) (0.6) 2.0 16.3
    (1) In the second half of 2024, the sale of the UK Equity Income Fund to Jupiter Asset Management completed and subsequently is reflected as a disposal. Therefore, net outflows of CHF 0.6 billion in 2024 have been reflected as a disposal.

    Financial Results for FY 2024

    The average management fee margin earned on investment management AuM in 2024 was 40.4 basis points, compared with the average margin for the financial year 2023 of 49.7 basis points. The change in average management fee margin primarily reflects the mix of assets under management across products and sub-advisory agreements with existing and new partners.

    Net management fees and commissions in 2024 totalled CHF 75.9 million, down from CHF 124.4 million in 2023 due primarily to the sale of the third-party fund services business in January 2024, lower average AuM and reduced average management fee margin in investment management.

    Underlying net performance fees totalled CHF 1.9 million, down from CHF 4.8 million in 2023.

    Underlying net other income/expenses includes net interest income and expenses, the impact of foreign exchange movements, net gains and losses on seed capital investments and hedging, as well as fund-related fees and service charges. In 2024, a net loss of CHF 2.3 million was recognised, compared with a CHF 0.4 million net loss in 2023. The 2024 net loss was mainly driven by the interest expenses incurred on the Rock Investment SAS loan facility and the impact of foreign exchange movements. The IFRS net other expense in 2024 amounts to CHF 4.4 million. The difference between the underlying and the IFRS net other expense of CHF 2.1 million mainly relates to a net foreign exchange loss on pension loan note offset by other income driven by the assignment of the UK property lease to a third party.

    Underlying personnel expenses decreased by 26% to CHF 76.6 million in 2024, compared with CHF 96.8 million in 2023. Fixed personnel costs decreased by 28%, driven by lower headcount. Headcount stood at 294 FTEs as at 31 December 2024, compared to 478 FTEs as at 31 December 2023. Variable compensation in 2024 fell to CHF 11.2 million from CHF 13.1 million in 2023, mainly driven by lower management and performance fees which impacted variable compensation arrangements. The underlying personnel expenses compares to IFRS personnel expenses of CHF 81.0 million. The difference between the underlying and the IFRS personnel expenses of CHF 4.4 million primarily relates to a reorganisation charge. (For further information, see note 6 of the condensed consolidated interim financial statements).

    Underlying general expenses in 2024 were CHF 52.1 million, down from CHF 65.0 million in 2023 due to cost optimisations initiatives across the business. This compares to IFRS general expenses of CHF 54.0 million. The difference between the underlying and the IFRS general expenses of CHF 1.9 million mainly relates to the Group’s reorganisation initiatives.

    Underlying depreciation and amortisation charges were CHF 13.8 million in 2024 compared to CHF 16.5 million in 2023. There is no difference between underlying and IFRS amounts.

    The underlying pre-tax loss in 2024 was CHF 66.8 million, compared to a CHF 49.5 million underlying pre-tax loss in 2023. The higher loss was driven mainly by lower net fee and commission income being only partially offset by lower personnel and general expenses. The underlying loss compares to an IFRS net loss before tax of CHF 69.6 million. The difference of CHF 2.8 million mainly relates to the remeasurement of the brand intangible, strategic initiative expenses and foreign exchange loss on pension loan note. (For further information, see note 6 of the condensed consolidated interim financial statements).

    The underlying income taxes in 2024 was a tax expense of CHF 0.1 million compared to a tax expense of CHF 0.3 million in 2023.

    Diluted underlying losses per share in 2024 was a negative CHF 0.25, compared to a negative of CHF 0.32 in 2023. This compares to a diluted IFRS earnings per share of negative CHF 0.27 in 2024. The difference between the diluted underlying and the diluted IFRS earnings per share of CHF 0.02 relates to the lower underlying net loss.

    Cash and cash equivalents as at 31 December 2024 were CHF 65.1 million, down from CHF 87.2 million as at 31 December 2023.This reduction was driven by the losses made by the Group partially offset by the proceeds received from the ordinary capital increase made by way of a rights offering in November 2024.

    Adjusted tangible equity as at 31 December 2024 was CHF 58.5 million, up from CHF 20.9 million as at 31 December 2023.The main contributor to this increase was ordinary capital increase by way of a rights issue that took place in November 2024. See page 17 of our Annual Report 2024 for full definition of adjusted tangible equity.

    The Board of Directors proposes to shareholders that no dividend will be paid for financial year 2024 given the underlying net loss in 2024.

    Outlook

    GAM continues to focus on implementing its strategy. Our priority is to achieve sustainable overall positive net inflows by rebuilding GAM’s distribution capabilities with a focus on our existing products and new product launches. The timeline for achieving these net inflows will be driven by our success in delivering our strategy, subject to market conditions. GAM continues to target profitability in fiscal year 2026.

    Additional information

    Results Centre | [FY2024 year report] | [FY2024 Investor presentation] | [FY2024 Investor workbook] | [2024 Sustainability Report] | [GAM corporate calendar]

    Investor Relations        
    Magdalena Czyzowska        
    T +44 (0) 207 917 2508        
    Media Relations        
    Colin Bennett        
    T +44 (0) 207 393 8544

    Visit us: www.gam.com
    Follow us: X and LinkedIn

    About GAM Investments

    GAM Investments is a highly scalable global investment platform with strong global distribution capabilities focusing on three core areas, Specialist Active Investing, Alternative Investing and Wealth Management, that is listed in Switzerland. It delivers distinctive and differentiated investment solutions across its Investment and Wealth Management businesses. Its purpose is to protect and enhance clients’ financial future. It attracts and empowers brightest minds to provide investment leadership, innovation and a positive impact on society and the environment. Total assets under management were CHF 16.3 billion as of 31 December 2024. GAM Investments has global distribution with offices in 14 countries and is geographically diverse with clients in almost every continent. Headquartered in Zurich, GAM Investments was founded in 1983 and its registered office is at Hardstrasse 201 Zurich, 8037 Switzerland. For more information about GAM Investments, please visit www.gam.com

    Other Important Information

    This release contains or may contain statements that constitute forward-looking statements. Words such as “anticipate”, “believe”, “expect”, “estimate”, “aim”, “project”, “forecast”, “risk”, “likely”, “intend”, “outlook”, “should”, “could”, “would”, “may”, “might”, “will”, “continue”, “plan”, “probability”, “indicative”, “seek”, “target”, “plan” and other similar expressions are intended to or may identify forward-looking statements.

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    The MIL Network

  • MIL-OSI China: Chinese animated blockbuster ‘Ne Zha 2’ screened in Cambodian capital

    Source: China State Council Information Office 3

    Chinese animated blockbuster “Ne Zha 2,” the highest-grossing animated film of all time, was screened in Phnom Penh on Tuesday evening, attracting hundreds of moviegoers.

    Premiered at the Olympia Mall’s Legend Cinema, “Ne Zha 2” was dubbed in Chinese, with subtitles in both Chinese and English.

    At the event, many moviegoers posed for photos near the “Ne Zha 2” posters in front of the cinema, and some children dressed up as key characters in the movie, such as Nezha and Aobing.

    “Ne Zha 2” continues the tale of the iconic boy god from Chinese mythology, as Nezha and his ally Aobing struggle to rebuild their physical forms and secure their fate with the help of the immortal Taiyi Zhenren.

    Throughout the screening, enthusiastic viewers were immersed in the film, reacting with laughter, gasps, excitement, applause and admiration.

    Cambodian viewer Kang Sovanthyda, 24, said she was thrilled to watch the film as she was very eager to see it for a long time after hearing that it captivated audiences worldwide.

    “Visual effects are stunning, and there are funny scenes that make us laugh, but there are also emotional scenes that can make us cry,” she told Xinhua.

    Another moviegoer, Yun Seavvay, said the movie was about the fate of Ne Zha, with a lot of thrilling scenes.

    “For this animated film, I think the design of characters fits traditional Chinese mythology, blending with Chinese culture and implying a lot of educational value,” she told Xinhua. “I could say that this film is amazing and unique for this year.”

    Seavvay said the film also showed respect and affection for parents and relatives, and also told about the value and struggle in life.

    MIL OSI China News

  • MIL-OSI China: From music to mastery, Myanmar students learn Chinese through song

    Source: China State Council Information Office 3

    Ko Si Thu, a 27-year-old engineer from Kyaukphyu in Rakhine state, Myanmar, is on a journey to master the Chinese language.

    With numerous Chinese projects in his hometown, he realized the importance of learning a foreign language to access better opportunities.

    His approach is to join a Chinese singing class at the China Cultural Center in Yangon. He said he began learning Chinese about four months ago.

    “I want to learn Chinese effectively, so I joined the singing class,” he said while waiting for his lesson on Tuesday.

    Although he doesn’t consider himself a singer, he believes music will help improve his pronunciation and tone. “I’ve been learning tones and vocal training in the class,” he said, adding that he enjoys the songs of Teresa Teng.

    Before joining the singing class, he had already taken a Chinese language course at the center. “There are many Chinese-invested projects in Kyaukphyu, so I think mastering a foreign language is essential. Once I become fluent, I want to work in my hometown,” he said.

    Beyond language, Ko Si Thu has also developed a deeper appreciation for Chinese culture. “I feel connected to Chinese traditions. I’m interested in tea-making, calligraphy, and martial arts like Tai Chi,” he said.

    Like Ko Si Thu, Ma Pwint Hayman Tun, a 27-year-old teacher, also joined the vocal class. “I enjoy dancing and singing, so I joined. I’ve been learning Chinese for three and a half years,” she said.

    Coming from a Myanmar-born Chinese family, she has always felt a deep connection to the language and culture. “I also attended Chinese language and cooking courses at the center,” she said.

    “This is my first time learning to sing. Some songs are hard to understand, but I can feel their emotions. I prefer classic songs over modern ones,” she said, adding that she enjoys music by Chinese artists Xiao Zhan and Wang Yibo.

    “Chinese is becoming more popular nowadays,” she said. Beyond music, she is also fascinated by Chinese paintings and cuisine, especially Sichuan hotpot and steamed buns (baozi).

    For Ma Su Lae Yadanar, a 24-year-old Chinese bookseller, inspiration came from her elder sister. “I used to accompany my sister to Chinese singing events, which made me want to sing Chinese songs too,” she said.

    Though she attended short-term Chinese classes at temples as a child, she resumed her studies a year and a half ago. “This is my first time in a Chinese singing class. I prefer modern songs over old ones,” she said.

    For her, the class is an opportunity to improve both her language and singing skills.

    The three-month course at the China Cultural Center in Yangon is led by Ko Phyo, a 31-year-old vocal trainer.

    Ko Phyo believes music plays a crucial role in cultural exchange. “My goal is for my students to be able to sing Chinese songs by the end of the course,” he said.

    With over ten years of experience in singing, he emphasized music’s universal nature. “Even if people speak different languages, they can share the same emotions through music. Songs are a way to understand and learn about a culture,” he explained.

    Xiang Jianbo, the center’s director, introduced the singing course to attract young people to Chinese language learning. “Young people in Myanmar are increasingly interested in Chinese songs, so we organized this course to introduce modern Chinese music,” he said.

    He also highlighted the center’s broader mission. “Our goal is to spread Chinese arts and culture. Since music is a powerful medium for cultural exchange, this is our first singing course, and we will offer more if interest continues to grow.”

    The singing course is part of a summer program celebrating the 75th anniversary of China-Myanmar diplomatic relations. “By introducing Chinese culture, from traditional to modern times, we aim to enhance mutual understanding between our people,” Xiang said.

    Given the presence of many Chinese companies in Myanmar, the center also plans to launch a Myanmar singing course for overseas Chinese to further strengthen cultural ties, he said.

    The singing course consists of 19 sessions, each lasting 1.5 hours and held twice a week. It was opened last week and will run until May 29, according to the center.

    MIL OSI China News

  • MIL-OSI China: High-level dialogue held during Boao Forum for Asia

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

    MIL OSI China News

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on March 26, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 75,000
    Total amount of bids received (in ₹ crore) 35,486
    Amount allotted (in ₹ crore) 35,486
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.27
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2461

    MIL OSI Economics

  • MIL-OSI United Nations: Can renewable energy survive climate change?

    Source: United Nations MIL OSI b

    The race towards renewable energy is accelerating, and for all the looming challenges of the climate crisis, signs of progress are there: Solar panels are beginning to blanket deserts, wind turbines dot coastlines, and hydropower dams are harnessing powerful rivers to churn out clean electricity.

    Yet, even as the push for renewables gains momentum – driven by cheaper technology and an urgent need to slash carbon emissions – experts are waving cautionary flags: Because renewable energy sources depend on weather conditions, climate change is increasingly dictating, and jeopardizing, renewable energy production.

    This trend became more pronounced in 2023, marked by a volatility that disrupted renewable energy generation globally. Temperatures soared 1.45°C above pre-industrial levels, and the shift from La Niña to El Niño altered rainfall, wind patterns, and solar radiation.

    Hamid Bastani, a climate and energy expert with the World Meteorological Organization (WMO), provided a stark example of this impact. “In Sudan and Namibia, hydropower output dropped by more than 50 per cent due to unusually low rainfall,” he said in an interview with UN News.

    In Sudan, rainfall totaled just 100 millimeters (less than four inches) in 2023—less than half the national long-term average.

    “This is a country where hydropower makes up around 60 per cent of the electricity mix. These reductions could have significant implications,” Mr. Bastani explained, noting that the power system supports a large and rapidly growing population of about 48 million.

    These shifts were not limited to hydropower. Wind energy, too, showed signs of stress under changing climate conditions.

    China, which accounts for 40 per cent of global onshore wind capacity, saw only a modest 4 to 8 per cent increase in output in 2023, as wind anomalies disrupted generation. In India, production declined amid weaker monsoon winds, while some regions in Africa experienced even sharper losses, with wind output falling by as much as 20 to 30 per cent.

    South America, meanwhile, saw the scale tip in the other direction. Clear skies and elevated solar radiation boosted solar panel performance, particularly in countries like Brazil, Colombia, and Bolivia.

    As such, the region saw a four to six per cent increase in solar generation – a climate-driven bump that translated to roughly three terawatt-hours of additional electricity, enough to power over two million homes for a year at average consumption rates.

    “This is a good example of how climate variability can sometimes create opportunity,” explains Roberta Boscolo, who leads WMO’s New York Office and formerly the agency’s climate and energy work. “In Europe, too, we are seeing more days with high solar radiation, meaning solar power is becoming more efficient over time.”

    Ms. Boscolo and Mr. Bastani are among the contributors to a recent WMO–IRENA study examining how climate conditions in 2023, shaped by El Niño, global warming, and regional extremes, affected both renewable energy generation and energy demand worldwide.

    ADB/Patarapol Tularak

    Solar power accounted for over 73 percent of all new renewable capacity added globally in 2023, making it the fastest-growing source of energy worldwide.​

    Systems built on stability, in a world that is anything but

    Ms. Boscolo, who has spent years working at the intersection of climate science and energy policy, is quick to point out the vulnerability of renewable energy infrastructure. Dams, solar farms, and wind turbines are all designed based on past climate patterns, making them susceptible to the changing climate.

    Take hydropower. Dams rely on predictable seasonal flows, often fed by snowmelt or glacial runoff. “There will be a short-term boost in hydropower as glaciers melt,” she said. “But once those glaciers are gone, so is the water. And that is irreversible – at least on human timescales.”

    This pattern is already unfolding in regions like the Andes and the Himalayas. If the meltwater disappears, countries will need to replace the way they generate power or face long-term energy deficits.

    recent report from the UN Environment Programme (UNEP), for example, pointed out that rising sea levels and stronger storms pose growing risks to energy production facilities, including solar farms located near coastlines.

    Similarly, increasingly intense and frequent wildfires can also take down power lines and black out entire regions, while extreme heat can reduce the efficiency of solar panels and strain grid infrastructure—just as demand for cooling peaks.

    Nuclear power plants are also at risk in the changing climate.

    “We have seen nuclear power plants that could not operate because of the lack of water… for cooling,” Ms. Boscolo said. As heatwaves become more frequent and river levels drop, some older nuclear facilities may no longer be viable in their current locations.

    “This is another thing that should be looked at with different eyes in the future . When we design, when we build, when we project power generation infrastructure, we really need to think about what the climate of the future will be, not what was the climate of the past”.

    IMF/Crispin Rodwell

    Global renewable electricity capacity grew by nearly 50 percent in 2023—the largest annual increase in two decades—with most additions coming from solar and wind.​

    Adapting to the future through data, AI and technology

    The expert underscores that one thing is certain: Our planet is heading towards a future in which electricity, especially from renewable sources, will be central.

    “Our transport is going to be electric; our cooking is going to be electric; our heating is going to be electric. So, if we do not have a reliable electricity system, everything is going to collapse. We will need to have this climate intelligence when we think about how to change our energy systems and the reliability and the resilience of our energy system in the future.”

    Indeed, to adapt, both experts emphasized a need to embrace what they call climate intelligence – the integration of climate forecasts, data, and science into every level of energy planning.

    “In the past, energy planners worked with historical averages,” Mr. Bastani explained. “But the past is no longer a reliable guide. We need to know what the wind will be doing next season, what rainfall will look like next year – not just what it looked like a decade ago.”

    In Chile, for instance, hydropower generation surged by as much as 80 per cent in November 2023, due to unusually high rainfall. While this increase was climate-driven, experts say advanced seasonal forecasting could help dam operators better anticipate such events in the future and manage reservoirs to store water more effectively.

    Similarly, wind farm workers can use forecasts to schedule maintenance during low-wind periods – minimizing downtime and avoiding losses. Grid operators, too, can plan for energy spikes during heatwaves or droughts.

    “We now have forecasts that span from a few seconds ahead to several months,” Mr. Bastani said. “Each one has a specific application – from immediate grid balancing to long-term investment decisions.”

    WMO/Sandro Puncet

    Improved climate forecasting can help energy systems plan days to seasons ahead.

    Artificial intelligence (AI) is lending a hand: Machine learning models trained on climate and energy data can now predict resource fluctuations with higher resolution and accuracy. These tools could help optimize when to deploy battery storage or shift energy between regions, making the system more flexible and responsive.

    “These models can help operators better anticipate fluctuations in wind, rainfall, or solar radiation”, Mr. Bastain explained.

    For example, two recent WMO energy mini projects illustrated how artificial intelligence can be applied in real-world renewable energy planning. In Costa Rica, the agency worked with national energy authorities to develop and implement an AI-based model for short-term wind speed forecasting. The tool is now integrated into the Costa Rican Electricity Institute’s internal energy forecasting platform, helping optimize operations at selected wind farms.

    In Chile, another project focused on floating solar technology, using AI to estimate evaporation rates on reservoirs. The results, now incorporated into Chile’s official Solar Energy Explorer platform, showed that floating solar panels can reduce water evaporation by up to 85 per cent in summer, with a national average of 77 per cent.

    Indeed, the promise and challenge of climate-smart renewable planning are most evident in the Global South. Africa, for instance, boasts some of the best solar potential on the planet, yet only two per cent of the world’s installed renewable capacity is found on the continent.

    Why the gap? Ms. Boscolo points to a lack of data and investment.

    “In many parts of the Global South, there just is not enough observational data to create accurate forecasts or make energy projects bankable,” she said. “Investors need to see reliable long-term projections. Without that, the risk is too high.”

    WMO is working to improve weather and energy monitoring in underserved regions, but progress is uneven. The agency is calling for more funding for local data networks, cross-border energy planning, and climate services tailored to regional needs.

    “This is not just about climate mitigation,” Ms. Boscolo added. “It is a development opportunity. Renewable energy can bring electricity to communities, drive industrial growth, and create jobs if the systems are designed right.”

    Mr. Bastani sees a need for global data sharing between energy companies and climate scientists.

    “There is a huge untapped potential in the data collected by the private sector… integrating historical and real-time observations from power plants – solar, wind, hydropower, even nuclear – can significantly improve weather and climate models. This is a win-win.”

    IMF/Lisa Marie David

    Climate forecasting helps energy companies anticipate weather-driven changes in supply and demand, improving reliability and reducing risk.

    Diversifying the energy portfolio to adapt

    Another key action to guarantee clean energy in the near future is diversification. Relying too heavily on only one renewable source can expose countries to seasonal or long-term shifts in climate, Mr. Bastani explains.

    In Europe, for example, energy planners are increasingly concerned about something called “dunkelflaute”— a period of cloudy, windless weather in winter that undermines both solar power and wind generation. This phenomenon, linked to high-pressure systems known as anticyclonic gloom, has prompted calls for more energy storage and backup power.

    “A diversified mix that includes solar, wind, hydro, battery storage, and even low-carbon sources (like geothermal) is essential,” Mr. Bastani said. “Especially as extreme weather becomes more frequent.”

    Into the future

    As the world races towards a future powered by renewable energy, addressing the challenges posed by climate change is imperative. The volatility experienced in 2023 underscores the need for climate-smart planning and infrastructure that can withstand unpredictable shifts in weather patterns.

    For renewable energy to truly fulfill its promise, the world must invest not only in expanding capacity but also in building a system that is resilient, adaptable, and informed by the best available climate science.

    WMO experts Hamid Bastani and Roberta Boscolo emphasize the importance of integrating climate intelligence into energy systems to ensure their reliability and resilience. By leveraging advanced forecasting and artificial intelligence, we can better anticipate and adapt to these changes, optimizing renewable energy production and safeguarding our future.

    The future of energy is not just about more wind turbines and solar panels, but also about ensuring they can withstand the very forces they are meant to mitigate.

    MIL OSI United Nations News

  • MIL-OSI Australia: Press conference – Rockhampton, Queensland

    Source: Murray Darling Basin Authority

    JASON CLARE, MINISTER FOR EDUCATION: Thanks very much for coming along. It’s great to be back in Rocky, and it’s particularly fantastic to be here with my friend JP. We were together only a couple of days ago in Canberra.

    On Monday we made a really big announcement worth $2.8 billion of extra Commonwealth funding for public schools right across Queensland, an agreement that was struck by the Prime Minister and the Queensland Premier as well as the two of us, working together in the interests of kids right across Queensland. And that investment over the next decade is going to make sure that all public schools right across Queensland are fully funded. 

    It’s the last piece in the puzzle to make sure that all public schools right across the nation are fully funded. And it’s going to change lives. It’s a classic example of two Governments working together. And that’s what today is all about as well. We got a great opportunity just a minute ago to meet the doctors of the future – young people that are studying medicine right now that are going to be doctors in Rocky in the years ahead.

    And what we’re announcing today is that the Australian Government will provide $80 million to help build the health sciences school that Rockhampton needs. It’s a health sciences academy for Year 10 to 12. The Premier made this commitment in the election campaign. I’m glad that the Commonwealth Government can contribute to help make this a reality. It’s a great example of two Governments working together – Commonwealth Government chipping in, State Government chipping in – to help make sure that young people in regional Australia get the skills they need to produce the doctors and the nurses and the ambos and the health science professionals that we need now and that we’re going to need in the years ahead. 

    And as we all know, if you study local, you’re more likely to stay local. If you become a doctor in Rocky – if you study medicine in Rocky, you’re more likely to become a doctor who works in Rocky. And that’s why this is so important. Young people while they’re still at high school, getting the skills they need to go and study a university degree in health sciences, and help make sure that we’ve got more doctors and nurses and ambos here in Rocky and across regional Queensland.

    I’ll hand over to you, mate.

    JOHN-PAUL LANGBROEK, QUEENSLAND MINISTER FOR EDUCATION: Thanks, Jason. Well, thanks, everyone, for being here today. And I want to thank Jason Clare, our Federal Minister, as well for the partnership that we’ve had over the last couple of months working on that public school funding scheme that we were able to finalise on Monday. But importantly today is another piece of the puzzle about the election commitment that we made about the new health sciences academy that we want to bring to central Queensland and Rockhampton specifically. 

    So, we really want to thank the Federal Government for the $80 million commitment. It’s an $80 million commitment by the Federal Government that’s going to be a big help in us delivering our election commitment. So, it’s great to be here with the vice-chancellor and two of our local MPs as well.

    But as Jason Clare has just mentioned, seeing the students in action and hearing their stories – many of them here from the local community – and it’s a very, very important partnership between the Federal Government, the State Government, our local health services and schools and, of course, the university.

    So, we’re very appreciative, and we know it’s going to lead to better outcomes. I was here just a month ago, here at the university and also at local high schools. And we know there are over 30 different jobs in health that young people can aspire to. And as Jason Clare has mentioned, if they study here, they’re more likely to stay here.

    We don’t expect everyone to stay here forever necessarily. We want them to travel and go see other places but come back to where your roots are and build a growing state that’s got increasing needs into the future. So, we’ll be working with Health Minister Tim Nicholls as well about delivering that increased workforce that we know we’re going to need over the next few years.

    I’ll hand over to Nick Klomp now, the Vice-Chancellor. Thanks for having us here, Nick.

    NICK KLOMP: Thanks. Thank you, I’m Nick Klomp, Vice-Chancellor and President of CQ University. CQ University is delighted about this cross-government announcement today of locating the Queensland Academy of Health Sciences here in Rockhampton. And, you know, almost on behalf of the community I want to congratulate Jason and JP and our local members here, Donna and Glen, for recognising the importance of workforce in the regions. It’s one of the things that is top of mind for everyone that lives here. It’s top of mind for businesses and communities, and no discipline is more important perhaps than the health disciplines.

    CQ University, we provide graduates, we train graduates in a whole range of health disciplines, from the regional medical pathway, nurses, doctors, psychologists, oral health, physiotherapists, occupational therapists, speech therapists, paramedics, and I could keep on going. We can’t produce enough graduates. That’s how important it is in the region. And this announcement of the Queensland Academy of Health Sciences helps build aspiration for people that are thinking they would like to get a head start in their studies, they’d like a career in health sciences. And CQ University just stands ready to work in partnership with the schools, with the state on what can we do to use this academy to really prioritise the potential of health careers in the region.

    It’s really exciting. We need all the graduates in health science we can get, and, of course, CQ University recognises our obligation to help produce those graduates. So, a great day for health sciences. 

    DONNA KIRKLAND: Thank you. So, what we see today is the coming together of a number of stakeholders, different levels of Government, and that in itself speaks to the need for regional health services in our area. So very excited about this announcement today. And I want to continue to just reiterate that 70 per cent of the people who study in the regions stay in the regions. And that’s what we are wanting out of this. We’ve just been next door speaking to some of our doctors to be – four of those from Rockhampton, another from Gladstone – all with aspirations to continue to stay here in the regions to be of service to our community. 

    And so it will be that Grades 10, 11 and 12 right across Central Queensland will be able to access the Health Services Academy. This is a great outcome, and as the Member for Rockhampton and certainly Assistant Minister for Central Queensland I welcome this funding here today.

    GLEN KELLY: Glen Kelly, Member for Mirani. Well today what an announcement. I’m a great believer in education and keeping people in the bush from where they grow up. And just visiting in next door here and seeing the students of the future, our doctors of the future who have to study for seven years – seven years to become a doctor – that’s dedication for you. That really shows that these young people – teenagers coming into adults – are so focused on helping people with health issues and other things that might appear in their life.

    Today it’s a great honour to have Jason Clare, our Federal Education Minister. And obviously we’ve got Nick here, which we’ve seen so many times of late, and we have JP and obviously Donna Kirkland. It’s a great honour this for regional Queensland because if just keeps us focused on how important we are. And the doctors of the next generation, they’re just next door here, and with this announcement of $80 million to support these ones just next door and the coming on is so important to us. Thank you.

    JOURNALIST: So just on the funding, will that carry through regardless of the outcome of the federal election? 

    CLARE: Certainly, if the Albanese Government is returned that money will be delivered, and we’ll work with JP and the team to make sure that this school is built over the course of the first term, I think it is, of your Government. I can’t speak for if we’re not returned.

    JOURNALIST: And so, the $80 million, was that just Federal funding?

    CLARE: That’s a Federal contribution. The State Government will make an important contribution as well. We’re going to work really closely with Nick and the team at the University. There’s the potential for co-location here at the University. We’ve just got to go through the details of that to see what might be possible. If that’s possible, that’s great because young people going to school on university grounds get a chance to see what life is like once you go to university before you even get there.

    The other thing that makes this special is that there’s the potential to earn credits while you’re doing your studies at high school for the degree or for the diploma that you do once you leave high school and start a health science course, whether it’s a TAFE course or whether it’s a university degree.

    JOURNALIST: And why did the Government see this as a priority, and was there a lot of legwork bring this to fruition? 

    CLARE: Well, JP’s a former dentist – he’s good at pulling teeth! This is honestly a classic example of great teamwork. To get things done in this country it requires Australian Governments to work together – Commonwealth Governments and State Governments. Forget political parties; it’s about the people, it’s about what does a community need. This community needs more doctors, it needs more nurses, it needs more ambos, it needs more health professionals. And if we work together, we can get this done.

    JOURNALIST: And will this benefit students as well as the teachers and, if so, how so?

    CLARE: Will it benefit the students? 

    JOURNALIST: Will it benefit the community as well sorry?

    CLARE: I think it benefits the community. The ultimate goal here is that Rockhampton has more health professionals so that people who live in Rocky and call it home – my grandmother was born and raised in Rocky – have the health services they need and the health services that they deserve.

    Do you want to jump in?

    LANGBROEK: Well, look, I think there’s no doubt that it’s going to benefit teachers as well. It comes up with the university. When it comes to university and rankings, the more that you can have offerings at a university with local students it’s going to benefit lecturers, tutors and enhance the reputation of one of our finest universities. We’ve got nine in Queensland out of 40 nationally, and we want our universities to be seen as amongst the best in the country. And this is only going to help CQU as well as the students who are going to be here to benefit, as well as the local community. 

    ENDS

    MIL OSI News

  • MIL-OSI Australia: Automotive sector outlook: what’s driving recent trends

    Source: Allens Insights (legal sector)

    Regulation and scrutiny set to intensify 11 min read

    Whether it be consumer guarantees or vehicle emissions, the automotive sector continues to be highly regulated, and the target of scrutiny from regulators and private litigants alike. In this Insight, we reflect on some of the key issues facing the sector.

    Class action risk regaining momentum

    In recent years, the automotive sector has been a prominent target of class actions, with multiple claims filed each year. However, the rate of new claims noticeably stalled in mid-to-late 2023. Although there were eight claims in 2023, seven of these were filed by May. 

    In our 2024 Class Action Risk Report, we suggested that class action promoters may have been adopting a ‘wait and see’ approach, pending the High Court’s guidance in the Toyota and Ford proceedings on the availability of ‘reduction in value damages’ for breaches of the acceptable quality guarantee under section 272(1)(a) of the Australian Consumer Law (the ACL). This form of damages has been a mainstay in previous automotive class actions and a substantial driver of significant damages awards.

    The High Court provided that guidance late last year. As reported previously, it held that reduction in value (RIV) damages are a ‘performance based remedy’, reflecting the monetary difference between the value of what the consumer bargained for and what they ultimately received. The majority found that RIV damages are to be calculated as the amount by which the value of the goods was reduced by the failure to comply with the guarantee at the time of supply, with regard to ‘all that is known at the time of trial about the “state and condition of the goods”‘. Accordingly, the assessment includes consideration of both the nature of the defect, and the likely availability, timing, effectiveness, cost and inconvenience of any repairs.

    Automakers can find welcome relief in this decision because the High Court’s approach gives recognition to ‘field actions’ carried out by manufacturers in reducing their liability. However, depending on the seriousness of the defect and/or how long it takes to repair, manufacturers’ potential exposure to damages may still be considerable.

    It remains early days in assessing how class action promoters may respond to the High Court’s decision. Even so, there are initial signs that automotive class action filings may be regaining momentum, with two new claims filed in the past few months.

    Changes to dealership operating models

    Recent years have seen a number of Australian automakers consider, and implement, changes to their distribution models—away from a traditional dealer structure and towards an agency arrangement. Under this change, instead of dealers purchasing cars from automakers and onselling them to customers at a mark-up, they act as agents and sell cars on the automaker’s behalf (generally at an agreed price and in exchange for commission).

    While an agency approach gives automakers far more control over pricing and margins, the transition has been opposed by many franchisees, who fear a loss of profitability and goodwill in their business. Following Mercedes-Benz’s implementation of an agency model between 2016 to 2020, 38 of its 49 dealers commenced a class action alleging the loss of A$650 million in expropriated goodwill.

    We have now seen two distribution model changes litigated through the Australian courts—Mercedes-Benz (referred to above) and Honda Australia, which restructured its dealership network in 2020. While Mercedes-Benz emerged (relatively) unscathed, Honda had mixed success before different courts, and the two cases provide a helpful illustration of the current state of the law. Importantly, the decisions confirm that:

    • automakers are generally entitled to change their business models in the interest of improving profitability (even where it causes financial loss to their dealers); and
    • there is no current right under Australian franchising laws for a franchisee to be compensated for any loss of goodwill upon the non-renewal of a franchise agreement.

    With that said, in implementing any changes to distribution models, automakers should be very careful to honour existing contractual relationships and avoid misrepresentations or inaccurate statements. Compensation may be available where automakers eg :

    1. terminate dealership agreements early, and without a contractual right to do so;
    2. inform dealers they will be no worse off under a new model without a proper basis; or
    3. represent to customers that former authorised dealers can no longer service their vehicles, when this is inaccurate.

    The Mercedes-Benz and Honda cases concerned restructures that occurred before 2021, when the Franchising Code was amended to codify a compensation mechanism in circumstances where a motor vehicle franchisor terminates dealership agreements early. This regime will continue to apply under the new Franchising Code (see below). It will be interesting to see—in light of these decisions and the reforms to the Code—whether other automakers decide to follow in Mercedes-Benz and Honda’s footsteps.

    New Franchising Code on the way

    The Federal Government has now legislated a new Franchising Code of Conduct, which will take effect on 1 April 2025 and replace the current version of the Code, which is due to ‘sunset’.

    For motor vehicle franchisors, the changes in the Code will start applying on the following dates:

    • Almost all changes apply only to conduct that occurs on or after 1 April 2025, in relation to franchise agreements entered into, transferred, renewed or extended from this date.
    • Disclosure requirements in relation to significant capital expenditures will change, but the new requirements apply only to disclosure documents created on or after 1 November 2025. In all other respects, disclosure documents provided to franchisees in relation to franchise agreements to be entered into on or after 1 April 2025 (including disclosure documents provided before 1 April 2025 but relating to franchise agreements to be entered into after 1 April 2025) must comply with the form required by the new Code.

    Automakers will need to make some changes to the standard form of their dealership agreements, and a new form of disclosure document is required to be created.

    The new Code contains very few surprises for industry players who have been following its progress, as it largely aligns with the recommendations of the Independent Review released in February 2024 and the Exposure Draft released in October 2024.

    For automakers, it is important to note that the new Code has retained, without substantive changes, the provisions relating to compensation where a franchisor terminates dealership agreements early (with the changes proposed in the earlier Exposure Draft not implemented). The new Code also retains the obligation on motor vehicle franchisors to ensure that dealership agreements give franchisees a reasonable opportunity to make a return on their investment.

    The following reforms in the new Code are relevant to automakers who distribute through dealership or agency networks in Australia:

    1. Inclusion of service and parts agreements: The new Code includes a revised definition of ‘motor vehicle dealership’, which expressly captures ‘any servicing or repairing of motor vehicles’ conducted by dealers, or associated with a dealership agreement, where the dealer buys, sells, exchanges or leases motor vehicles.

      This change aligns the statutory definition with judicial interpretation of the Code in the AHG v Mercedes-Benz case.1 It is broadly designed to prevent franchisors from structuring contracts with dealers so as to exclude service and repair work from the Code’s application, while ensuring that pure service and repair franchise businesses are not subject to obligations specific to ‘motor vehicle dealerships’.

    1. Simplification of termination rights for franchisors: In relation to a limited set of serious termination events—eg the franchisee ceasing to hold a licence it needs to carry on the business, being deregistered as a company, or being convicted of a serious offence—the franchisor will be entitled to include in its franchise agreements a right to terminate on seven days’ notice, and the franchisee will not be permitted to raise a dispute under the alternative dispute resolution mechanism for such termination.
    2. Disclosure obligations: The new Code no longer requires franchisors to provide a key facts sheet to franchisees, separate from the disclosure document. Existing franchisees will be entitled to opt out of receiving disclosure documents, and also the 14-day cooling-off period, at the time of renewal or extension of the franchise agreement.
    3. Civil penalties apply to all substantive obligations: Whereas in the existing Code, only a limited number of substantive obligations will attract a civil penalty if breached, under the new Code, all substantive obligations will attract civil penalties if breached.

    Outside of the new Code, the Government has legislated to empower the ACCC to issue infringement notices with penalties at the upper end of what is currently available under the ACL (ie $19,800 for a body corporate).

    The New Vehicle Efficiency Standard begins to bite

    With the New Vehicle Efficiency Standard Act 2024 (Cth) (the NVES Act) taking effect at the start of this year, and the accumulation of the associated units and penalties commencing on 1 July 2025, the new standard is now kicking into gear.

    The NVES Act forms a central part of the Government’s National Electric Vehicle Strategy, which aims to promote Australia’s transition to a decarbonised transport system by providing a national framework to enhance the supply of, and access to, electric vehicles. Under the NVES Act, suppliers are incentivised to uptake more fuel-efficient, low or zero emission vehicles (including electric vehicles) through the following mechanisms:

    1. Suppliers of new light vehicles into the Australian market are required to keep CO2 emissions below annual emissions targets calculated based on the emissions and weight of vehicles sold. Stricter emissions targets are imposed for ‘Type 1’ vehicles (eg sedans and hatchbacks) than ‘Type 2’ vehicles (eg vans and utilities, and larger SUVs). The emissions targets of both vehicle types are expected to become more stringent over time.
    2. Central to the statutory regime is the concept of ‘Interim Emission Value’ (IEV), which measures the emissions performance of each supplier’s covered vehicles for a given year against the annual emissions targets set for the relevant vehicle type.
    3. Suppliers whose average fleetwide emissions fall below legislative targets (and therefore generate a negative IEV) will accrue tradeable ‘units’ or credits that can be sold to or purchased by other suppliers, and will be valid for up to three years.
    4. By contrast, suppliers that exceed their emissions targets (and therefore generate a positive IEV) may be liable for civil penalties, although liability will not crystallise immediately. Suppliers will have two years to bring their IEV down to zero, and can do so either by generating sufficient units themselves to meet any shortfall (ie by importing more fuel-efficient vehicles) and/or by purchasing units from other suppliers.

      If the supplier’s IEV has not been fully offset at the end of this period, the supplier will be liable for a civil penalty calculated at the scale of $100 for every gram of CO2 per kilometre of the supplier’s IEV that has not been offset. As the penalty regime applies to each covered vehicle, there is potential for significant fleetwide penalties, presenting a substantial new regulatory risk for automakers importing new vehicles into Australia.

    NGOs play a growing part in the enforcement of greenwashing claims

    We continue to see non-government organisations (NGOs) playing an increasingly prominent role in highlighting alleged instances of greenwashing by automakers, often with the dual aims of raising public awareness and agitating for regulatory enforcement action.

    Recent examples of this phenomenon are widespread. In 2023, the Environmental Defenders Office (EDO), an Australian environmental legal centre, published a report assessing climate-related claims made by the largest automotive companies in Australia. Most significantly, the report alleged that almost all automakers had made exaggerated climate-related claims, particularly by misleadingly comparing hybrid vehicles to ‘lower emitting electric vehicles’.

    To similar effect, United States-based advocacy group Ekō published a report in 2024 reviewing one automaker’s online marketing of its electrified vehicle line. The report surveyed 23 jurisdictions, including Australia, and alleged (among other things) that the automaker had misled consumers by using words such as ‘electrification’ on its website to describe hybrid, plug-in hybrid and hydrogen fuel cell vehicles. The automaker was said to have capitalised on growing electric vehicle demand to sell more of its hybrid (and allegedly polluting) vehicles.

    Ekō urged regulators worldwide, including the ACCC, to investigate its findings and those contained in EDO’s 2023 report, highlighting the growing relationship between NGOs and regulators in the enforcement of greenwashing claims.

    Data, privacy and cyber risk

    In May 2024, it was reported the Office of the Australian Information Commissioner had commenced an inquiry aimed at ensuring that connected vehicles purchased in Australia protected sensitive personal data.

    While details of the inquiry have not been released, the Privacy Commissioner, Carly Kind, has stated that ‘cars are now [a] kind of computers on wheels’ that collect a lot of personal information and there is ‘not a lot of transparency or understanding about how that data is being used’.

    Whether this inquiry becomes public remains to be seen, but it contributes to growing public and media attention on the auto industry regarding privacy and data security issues, following several recent high-profile data breach incidents—as well as various studies released over the past several years that have been highly critical of the privacy compliance of connected vehicles. Privacy advocates have also raised concerns around intrusive surveillance made possible through connected services.

    These trends in the auto sector reflect the broader scrutiny being placed on privacy and large-scale data use, in the context of a number of pieces of law reform in late 2024, such as:

    • material changes to the Privacy Act 1988 (Cth), including expanding enforcement options— further tranches of reform to the Privacy Act are expected this year; and
    • whole-of-economy changes to cyber security laws, with the passage of the Cyber Security Act 2024 (Cth). While vehicles have been largely excluded from the new cyber standards for connected products under this Act, it will have broader ramifications, and cyber standards for manufacturers remain a key area of risk.

    We anticipate that car manufacturers and auto financiers will come under increasing privacy and cyber scrutiny, given the volume and potential sensitivity of data collected at scale through connected vehicles. We will be providing an in-depth look into these issues in a future Insight.

    Consumer law reforms

    There is momentum building for consumer law reforms that, if introduced, could significantly affect the automotive sector. Among other things, the Government signalled its commitment late last year to a suite of reforms including to the consumer guarantees in the ACL, and the introduction of a prohibition on unfair trading practices.

    The proposals to strengthen the consumer guarantees were set out in a Consultation Paper released in October 2024 for feedback. The paper cited evidence that for high-value goods, and vehicles in particular, consumers find it difficult to obtain a remedy for breaches of the consumer guarantees. The proposed reforms include:

    1. clarifications to the meaning of a ‘major failure’ under the ACL;
    2. introduction of a new prohibition on suppliers refusing to provide remedies to consumers for a major failure;
    3. introduction of a prohibition on manufacturers failing to indemnify suppliers; and
    4. civil penalties for contraventions of the above.

    Treasury is expected to publish a Decision Regulation Impact Statement that will set out the Government’s preferred options in relation to these proposals.

    Separately, the Government has outlined proposals for a new prohibition on unfair trading practices. This prohibition would target conduct that might not meet the ACL thresholds for misleading or unconscionable conduct, but nonetheless causes consumer detriment through the distortion or manipulation of consumer choices (eg online pressure tactics). A Consultation Paper from November 2024 set out proposed general and specific prohibitions in this regard, and a Decision Regulation Impact Statement is now also anticipated, furthering these proposals.

    MIL OSI News

  • MIL-OSI Australia: Mix 104.9 with Katie Woolf

    Source: Workplace Gender Equality Agency

    KATIE WOOLF: And we are going to be catching up with the Minister for Northern Australia. I believe that I have got her on the line hopefully right now, the Minister for Northern Australia, Madeleine King. Good morning to you.

    MADELEINE KING: Oh, good morning, Katie. How are you going?

    KATIE WOOLF: Lovely to have you on the show. I’m really good. Thank you so much for joining us with a late call up this morning. It is very much appreciated. Now, Minister, talk us through what is in the budget from overnight for the Northern Territory.

    MADELEINE KING: Well, thanks, Katie. It’s a real pleasure to be calling back in to Darwin again. So, you know, overall the Federal Government will be providing over $7 billion in funding to the NT, which is a huge boost for the Northern Territory and that’s part of a great relationship we have with the Chief Minister, Lia Finocchiaro and of course their deputy, Gerard Maley. Now, I speak to the Member for Solomon, Luke Gosling all the time about how important the territory is to Australia because without a strong north, we don’t have a strong Australia. So, we’re going to keep on investing in the NT backing in one of our first commitments on coming into government, the $1.2 billion in Middle Arm investment precinct – industrial precincts with hundreds of millions of dollars on roads into the NT. But for every single NT taxpayer though, it is really, I want to be really clear about the magnitude of the tax cuts the Albanese Labor Government has delivered.

    KATIE WOOLF: I might get to those in just a moment and you know, I don’t want to sound ungrateful, but it does seem as though the only new money announced for the Northern Territory is a conditional $200 million out of a total budget of $786 billion. That is what the Northern Territory’s Treasurer Bill Yan is saying. I mean, is that correct when it comes to new money, it is just that, conditional $200 million?

    MADELEINE KING: Well, there are many things that will benefit the Territorians. Every single Territorian in this budget, one, of course, is the accumulated tax cuts. There are some already came in in July of last year. There is more now coming as the Treasurer spoke about last night. But there’s also savings on medicines that will save Northern Territory residents more than $1.3 million. Student debt will be slashed for Territorians and particularly important for young Territorians. We’ve made a commitment to a further Medicare Urgent Care Clinic in the Territory, bringing the total number in the NT up to nine. So, they’re really important commitments that will affect so many Territorians and of course the tax cuts will affect and be good for every single Territorian.

    KATIE WOOLF: So, just in relation to any sort of specific projects at this point in time, it is that $200 million for the Stuart Highway, that conditional $200 million. Is there any money going towards, you spoke before about Middle Arm and that development, but any new money or anything new in that space and certainly in the gas development space?

    MADELEINE KING: Well, no, excuse me. The focus is on Middle Arm and that $1.2 billion is, you know, one of the biggest commitments this Government has made to any single project in the country. So, it is of untold significance and it reflects the importance of Darwin’s position in relation to our neighbours in the north. And of course, the whole of the NT’s opportunity to be a renewable superpower. But there will be other industries involved in that like hydrogen and critical minerals processing and as you know, it’ll be Middle Arm is very close of course to the existing Inpex plant. So, there’s a lot of work going on on the planning for Middle Arm. It is a game changer for Darwin and our commitment to it remains solid.

    KATIE WOOLF: And Minister, in terms of, because there has been some discussion again as well about the Darwin Port, nothing in last night’s budget around the Darwin Port. Where does the Albanese Government stand on this? I mean, is there going to be some further announcements on the Darwin Port?

    MADELEINE KING: Well, as we know, the Darwin Port was permitted to be sold off under the former Coalition Government and that’s not something we agreed with at the time. But, you know, that’s a contract that was signed by that government and we have to work within those contractual laws. So, at the moment, you know, we will keep a watching brief, of course, on the solvency of the Port owner, Landbridge, I think it is. And make sure we’re well aware of what’s going on there, as we always are. I mean, Darwin remains and will always remain an integral part of Australia’s national defence. In the defence review we identified how important Darwin and other northern ports are. So, you know, obviously, we’ll keep a very close eye on everything that goes around with the Darwin Port. But the infrastructure spend on the Northern defence positions, including in Katherine as well, of course, are going to be vitally important to the country.

    KATIE WOOLF: Minister, look, there’s a lot of people messaging through to the show this morning. You know, they’re not like they are not hearing that there is, there’s a lot in it for the Northern Territory. I mean, is the Federal Government feeling as though at this point in time, you know, the Northern Territory seats are not winnable at the next election? Is that why there doesn’t seem to be a big focus on us.

    MADELEINE KING: Well, I mean, $7 billion to the Northern Territory –

    KATIE WOOLF: It’s not new money, though. Like, it’s not. They’re not new announcements, is the point that our listeners are making this morning.

    MADELEINE KING: Well, $7.2 billion is an extraordinary contribution to the NT economy and we as a government have a solid commitment and an ongoing commitment to the Territory. But I’ve taken you through a number of commitments already around urgent care clinics, obviously around the scripts being reduced under Medicare and strengthening Medicare as well. And also the tax cuts to every single Northern Territorian and we –

    KATIE WOOLF: Let’s talk about those. Let’s talk about those because we do know obviously the Federal Opposition, Angus Taylor, he’s come out and said what was offered was a bribe. He reckons the election bribe of 70 cents a day starting in a year’s time. He said, frankly, it’s not even going to touch the sides of the economic pain that Australian households have felt over the last two and a half years. Is it a bit insulting when you look at the cost of living and the rises that we are experiencing, particularly in regional parts of Australia? I know you’d understand that more than most, you know, as the Minister for Northern Australia.

    MADELEINE KING: Well, yeah, I do, and thanks for acknowledging that. But I would remind your listeners that Angus Taylor and Peter Dutton voted against tax cuts to Territorians worth over $2,700 per year. So, that’s what they have voted against and that they stood against it this morning in the Parliament, and I witnessed that myself. So, whilst we have had larger tax cuts in the last two budgets, and they were really important, and then this latest tax cut, of course, it’s smaller, but that’s why we are a responsible government. But the point of them is the accumulation of up to over $2,500 per Territorian taxpayer is undeniably a very good thing for everyone that lives there. And if it’s an extra $50 a week, as announced last night by the Treasurer, that’s nothing to be sneezed at. I mean, who wouldn’t want an extra 50 bucks in their pocket at the end of the week?

    KATIE WOOLF: So, how are we getting the, how’s the breakdown of the $50 happening? Is that in addition to the $5, what exactly is that breakdown for the $50?

    MADELEINE KING: Well, that’s the same thing, I think. I’m not sure what figures Angus Taylor has given you, but what it adds up to is, on average, for taxpayers, and of course, people pay different rates of tax. It’s an extra $50 a week in the pockets of Territorians on top of the over $2,000 worth of tax cuts we’ve introduced over the term of our Government.

    KATIE WOOLF: I just want to make it really clear for our listeners because I’m obviously reading off some other info that we have received, and it says that the Federal Treasurer obviously announcing the $17 billion tax cuts and that it will equate to most Australians to about $5 per week if you’re on a wage of around $79,000 a year.

    MADELEINE KING: Well, so what, doc – I don’t know what document that is, Katie. I’m sorry, I don’t know. But the figures I have is that for most Territorians it’s about $50 a week.

    KATIE WOOLF: All right. We’ll make sure we can do that.

    MADELEINE KING: Well, we can clear that up. I’m really happy to do that.

    KATIE WOOLF: Yeah. Yeah, absolutely. Hey, now, do we know what date this election’s going to be called? Madeleine King, when is it going to happen? We’re all waiting to find out.

    MADELEINE KING: Yeah. I mean, aren’t we all? But I can assure you it will be in May.

    KATIE WOOLF: We don’t know what date though.

    MADELEINE KING: Elections are an excellent opportunity for our democracy to demonstrate how great it is. And really important that there are so many more Territorians now on the electoral roll as well, which has been a great effort of the Special Minister of State, Don Farrell and his team to make sure more people across remote regions of the Territory are able to, you know, have their say in Australia’s future. And I really look forward to being part of that.

    KATIE WOOLF: Yeah, absolutely. Well, Minister for North Australia and Resources, Madeleine King, really appreciate your time this morning. Thanks very much for joining us on the show.

    MADELEINE KING: Thanks, Katie. I’ll see you up there soon. 

    MIL OSI News

  • MIL-OSI New Zealand: Government Cuts – Tertiary Education Commission faces another round of damaging cuts

    Source: PSA

    EMBARGOED UNTIL 4.30PM WEDS 26 MARCH 2025
    More jobs are proposed to go from the Tertiary Education Commission as the Government forces it to take the axe to its budget again.
    TEC staff were told today of the latest restructure which proposes a net loss of 22 roles, following the Government demand for a 5% spending cut to its operating funding. This equates to its baseline being shaved by another $12 million over the next four years. This comes on top of cuts made last year where 28 roles axed after TEC was forced to slash spending by 6%, and absorbing cost  pressures, a $25 million cut over four years.
    “The Government talks a big game about economic growth, but at the heart of thriving economies around the world is a well-funded, well managed tertiary education system and this is just the opposite,” said Fleur Fitzsimons, National Secretary for the Public Service Association Te Pūkenga Here Tikanga Mahi.
    If these latest cuts are confirmed in May as proposed, TEC will have lost nearly 14% of its workforce in little over a year.
    “This is a critical organisation already cut to the bone having slashed other costs like research, travel, contractors, property and IT.
    “Ordering more cuts when the Government knows costs can only be saved by reducing the TEC workforce shows how little the Government cares about those who help our tertiary education sector function effectively.
    “This is an agency overseen by multiple Ministers who are demanding it do more with less. We worry this will lead to increased workloads and burnout for an already stretched workforce.
    “This is just more evidence of the Government ordering cuts without thinking of the long-term consequences. We have seen this repeated throughout the public service.
    “All this speaks to a government which is desperately trying to balance its books and find savings down the back of every sofa, not matter how small, to fund its irresponsible tax cuts.”

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Legislation – Transporting New Zealand welcomes roadside drug testing legislation passing third reading

    Source: Ia Ara Aotearoa Transporting New Zealand

    Road freight peak body Ia Ara Aotearoa Transporting New Zealand has welcomed roadside drug testing legislation passing its third reading today.
    Transporting New Zealand Policy and Advocacy Lead Billy Clemens says the final legislation has been a long time coming, after legislation from the previous government couldn’t be implemented by Police due to the lack of appropriate testing devices.
    “48 per cent of fatal crashes involved driver alcohol and/or drugs as a contributing factor between 2021-2023,” he says.
    “A lot of New Zealanders need to adjust their thinking about driving while impaired. The threat of 50,000 random roadside drug tests being done per year, potentially resulting in an immediate 12-hour driving stand-down and a fine, is a step in the right direction.”
    Clemens says the legislation will complement the random drug testing already commonplace in road freight businesses.
    “Our members take road safety seriously – the health, safety and wellbeing of drivers is currently one of the top three issues flagged in our 2025 Road Freight Industry Survey.
    “This legislation is a practical step towards improving road safety outcomes for all road users.”
    About Ia Ara Aotearoa Transporting New Zealand
    Ia Ara Aotearoa Transporting New Zealand is the peak national membership association representing the road freight transport industry. Our members operate urban, rural and inter- regional commercial freight transport services throughout the country.
    Road is the dominant freight mode in New Zealand, transporting 92.8% of the freight task on a tonnage basis, and 75.1% on a tonne-km basis.

    MIL OSI New Zealand News