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Category: Asia

  • MIL-OSI Economics: Global deal activity down by 12.5% YoY during Q1-Q3 2024, finds GlobalData

    Source: GlobalData

    Global deal activity down by 12.5% YoY during Q1-Q3 2024, finds GlobalData

    Posted in Business Fundamentals

    A total of 36,992 deals (comprising mergers & acquisitions (M&A), private equity, and venture financing deals) were announced globally during January to September (Q1-Q3) 2024, which represents a 12.5% year-on-year (YoY) decline over 42,288 deals announced during the same period in 2023, according to GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Deals Database disclosed that the volume of M&A deals declined by 6.7% during Q1-Q3 2024 compared to Q1-Q3 2023 while the number of private equity deals and venture financing deals experienced YoY fall of 8.9% and 22.2%, respectively.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The majority of the decline in global deal activity came from Q1 and Q2 while the impact was relatively much lesser in Q3. Although the deal activity continued to remain subdued in 2024, the impact seems to be diminishing in recent months or quarters. For instance, the decline in Q3 2024 compared to Q3 2023 remained at just 1%, whereas when compared between Q1 2024 and Q1 2023, the decline stood much higher at around 20% in Q1 2024.

    “The relatively lesser decline could be attributed to improving deal-making sentiments in some regions. In fact, the trend across regions also remained a mixed bag during Q1-Q3 2024, with regions like Asia-Pacific showcasing just a single-digit decline while North America experienced a double-digit decline.”

    North America experienced a 16% YoY decrease in the number of deals announced during Q1-Q3 2024 compared to Q1-Q3 2023, whereas Europe, Asia-Pacific, Middle East and Africa, and South and Central America regions saw respective deal volume fall by 13.6%, 6.8%, 7.6%, and 22.3% YoY.

    Bose adds: “Deal activity across several countries also remained a mixed bag, with some experiencing significant decline and some witnessing relatively lesser decline while few markets experienced improvement.”

    For instance, the US, the UK, China, Canada, Germany, France, Italy, the Netherlands, Spain, and Sweden witnessed YoY decline in deal volume by 15.4%, 7.2%, 22.8%, 21%, 17.9%, 30.8%, 9.4%, 16.7%, 20.2%, and 16%, respectively, during Q1-Q3 2024. Meanwhile, India, Japan, and Australia witnessed deal volume improve by 9.6%, 16.2%, and 2.2% during Q1-Q3 2024 compared to Q1-Q3 2023, respectively.

    MIL OSI Economics –

  • MIL-OSI Banking: Global travel and tourism deal activity down by 11% YoY during Q1-Q3 2024, finds GlobalData

    Source: GlobalData

    Global travel and tourism deal activity down by 11% YoY during Q1-Q3 2024, finds GlobalData

    Posted in Business Fundamentals

    A total of 519 deals (comprising mergers and acquisitions (M&A), private equity, and venture financing deals) were announced in the travel and tourism sector globally during January to September (Q1-Q3) 2024, which was a year-on-year (YoY) decline of 11% over 583 deals announced during the same period in the previous year, according to GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Deals Database also revealed that the volume of M&A deals decreased by 6.8% during Q1-Q3 2024 compared to the same period in 2023, while the number of venture financing deals was down by 25.2% YoY. Meanwhile, private equity deals volume remained unchanged.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The decline in global travel and tourism deal activity was mostly driven by a significant fall  in deals volume in some regions and countries, while deal activity remained relatively better for some other regions and countries. In fact, some regions and countries even showcased double-digit growth in deal volume, which seems to be an indication of improving deal-making sentiments.”

    North America, Asia-Pacific, and South and Central American regions experienced decline in deal volume by 36%, 7.7%, and 20% during Q1-Q3 2024 compared to Q1-Q3 2023. In contrast, Europe registered 10.3% YoY improvement in deal activity. Meanwhile, deal volume for the Middle East and African region mostly remained at the same level.

    Similarly, the trend across different countries also remained a mixed bag. The US, China, and France witnessed YoY decline in deal volume by 36.3%, 38.5%, and 42.9%, respectively, during Q1-Q3 2024, whereas India and Japan experienced respective deal volume improve by 24.3% and 38.1% YoY. Meanwhile, deal volume for the UK, South Korea, and Australia mostly remained at the same level.

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

    MIL OSI Global Banks –

  • MIL-OSI Banking: Global deal activity down by 12.5% YoY during Q1-Q3 2024, finds GlobalData

    Source: GlobalData

    Global deal activity down by 12.5% YoY during Q1-Q3 2024, finds GlobalData

    Posted in Business Fundamentals

    A total of 36,992 deals (comprising mergers & acquisitions (M&A), private equity, and venture financing deals) were announced globally during January to September (Q1-Q3) 2024, which represents a 12.5% year-on-year (YoY) decline over 42,288 deals announced during the same period in 2023, according to GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Deals Database disclosed that the volume of M&A deals declined by 6.7% during Q1-Q3 2024 compared to Q1-Q3 2023 while the number of private equity deals and venture financing deals experienced YoY fall of 8.9% and 22.2%, respectively.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The majority of the decline in global deal activity came from Q1 and Q2 while the impact was relatively much lesser in Q3. Although the deal activity continued to remain subdued in 2024, the impact seems to be diminishing in recent months or quarters. For instance, the decline in Q3 2024 compared to Q3 2023 remained at just 1%, whereas when compared between Q1 2024 and Q1 2023, the decline stood much higher at around 20% in Q1 2024.

    “The relatively lesser decline could be attributed to improving deal-making sentiments in some regions. In fact, the trend across regions also remained a mixed bag during Q1-Q3 2024, with regions like Asia-Pacific showcasing just a single-digit decline while North America experienced a double-digit decline.”

    North America experienced a 16% YoY decrease in the number of deals announced during Q1-Q3 2024 compared to Q1-Q3 2023, whereas Europe, Asia-Pacific, Middle East and Africa, and South and Central America regions saw respective deal volume fall by 13.6%, 6.8%, 7.6%, and 22.3% YoY.

    Bose adds: “Deal activity across several countries also remained a mixed bag, with some experiencing significant decline and some witnessing relatively lesser decline while few markets experienced improvement.”

    For instance, the US, the UK, China, Canada, Germany, France, Italy, the Netherlands, Spain, and Sweden witnessed YoY decline in deal volume by 15.4%, 7.2%, 22.8%, 21%, 17.9%, 30.8%, 9.4%, 16.7%, 20.2%, and 16%, respectively, during Q1-Q3 2024. Meanwhile, India, Japan, and Australia witnessed deal volume improve by 9.6%, 16.2%, and 2.2% during Q1-Q3 2024 compared to Q1-Q3 2023, respectively.

    MIL OSI Global Banks –

  • MIL-OSI Asia-Pac: Hospital Authority welcomes “The Chief Executive’s 2024 Policy Address”

    Source: Hong Kong Government special administrative region

         The Hospital Authority (HA) Chairman, Mr Henry Fan, welcomed the healthcare service-related measures included in “The Chief Executive’s 2024 Policy Address” delivered by the Chief Executive, Mr John Lee, today (October 16). It is believed that the measures will facilitate the HA in enhancing the quality of public healthcare services and sustainable development to improve support to patients.
     
         The HA will dovetail with the Government’s policies and development directions, and continue to enhance the capacity and quality of public healthcare services in order to cope with the demand. The HA will continue to enhance the triage system and referral arrangements of the Specialist Out-Patients Clinics (SOPC), so that patients with acute needs could receive services in a timely manner and patients with mild and stable conditions may also receive appropriate follow-up. The waiting time of the SOPC could be shortened by avoiding unnecessary referrals. The HA will also provide additional capacity for cataract surgeries to actively arrange surgeries for patients.
     
         Mr Fan said, “The HA welcomes the Government’s initiatives to promote community pharmacies. By strengthening the procurement of drugs and medical devices, the introduction of new drugs to the Drug Formulary will be expedited. The rationalisation and centralisation of procurement will also accelerate the cost-effectiveness standards and guarantee the optimised use of healthcare resources. The HA will also integrate paediatric services in order to make the best use of the Hong Kong Children’s Hospital to fu¬lfil its function as the Centre of Excellence in Paediatrics, thereby enhancing the quality of paediatric care in Hong Kong and providing a platform conducive to research development and professional training. The paediatric services will also be expanded, including an increase in the scope of newborn screening and treatment for neurosurgical diseases, to increase the quality of the services.
     
         Also, with the stringent support from the Government, the HA will continue to enhance healthcare services in public hospitals. In accordance with the national accreditation standard, the development of the second chest pain centre at Prince of Wales Hospital and the building of the first stroke centre will boost diagnostic efficiency, outcomes and patient survival rates, while the breastmilk bank to be set up at Hong Kong Children’s Hospital will provide breastmilk for preterm and critically ill infants.
     
         The HA is fully committed to driving forward a wide range of development projects under the First Hospital Development Plan. The HA is finalising the Second Hospital Development Plan to dovetail with the upcoming territorial development (including the Northern Metropolis and the latest developments in other New Development Areas), the Government population census, population distribution projection and the necessary land supply. The HA will continue to augment the service capacity of public hospitals as well as renewing its facilities in order to meet the service demand.
     
         Mr Fan expressed heartfelt appreciation for the Government’s support for the public healthcare services. The HA will strive to implement the initiatives for the benefit of patients.

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: Hispanic Heritage Month: Capt. Guillermo Pimentel’s Story of Cultural Pride and Military Service

    Source: United States Navy (Medical)

    As we close out Hispanic Heritage Month across the country through food, family and culture, Naval Medical Research Command (NMRC) reflects on stories of the Hispanic Americans who have shaped our country through service and dedication.

    One such story comes from the director for NMRC’s Biological Defense Research Directorate (BDRD), Capt. Guillermo Pimentel.

    Pimentel, born in Manhattan and raised in Puerto Rico, began his career in the U.S. Navy Reserve as a hospital corpsman in 1988.

    “We lived in the Guánica, the poorest town in Puerto Rico. It is the friendliest town, and a beach-lovers paradise,” Pimentel recalled. “During my senior year of high school, I was approached by a Navy recruiter. I ‘failed’ the Armed Services Vocational Aptitude Battery by 2 points.”

    Nevertheless, that same recruiter went on to explain the benefits of joining the Navy.

    “It was very appealing, since I come from a low-income family, and I would be fully independent, so I joined the Navy at 17.”

    Following his time as a reservist in the Gulf War, Pimentel left the service to earn a bachelor’s degree in industrial microbiology and a master’s degree in biology from the University of Puerto Rico.

    Pimentel then braved the cold climate of Pullman, Washington to earn a doctoral degree in plant pathology from Washington State University (WSU), focusing on mycology and population genetics. Following his graduation from WSU, Pimentel, now a lieutenant, became head of the microbiology department at the U.S. Naval Medical Center in Portsmouth, Virginia.

    From 2003 to 2010, Pimentel served multiple leadership positions at the Naval Medical Research Unit (NAMRU) 3 (now NAMRU EURAFCENT), then located in Cairo. In these roles, he managed research projects with the mission of implementing and strengthening laboratory-based disease surveillance capabilities in the Middle East, Central Asia, former Soviet Union, North Africa and West Africa. Pimentel led research and surveillance efforts to understand the epidemiology of infectious diseases of public health importance in the EUCOM, CENTCOM and AFRICOM Areas of Responsibility. He went on to provide laboratory support during several H5N1 flu outbreaks in West Africa and Central Asia. During the 2009 H1N1 pandemic, Pimentel led the NAMRU-3 outbreak support to forces deployed in Afghanistan, Iraq and 20 partner nations.

    In August of 2015, Pimentel reported to the NAMRU-6 (now NAMRU SOUTH) in Lima, Peru as executive officer. In March 2017, he became commanding officer of the NAMRU.

    Before returning to NMRC as BDRD director, Pimentel served as the Chief of the Global Emerging Infections Surveillance Branch at the Defense Health Agency from 2019 to 2022, leading the DoD global infectious disease surveillance network in support of Force Health Protection for the Geographic Combatant Commands.

    Pimentel shared thoughts on these experiences in the Navy, and on growing up in Puerto Rico, as part of NMRC’s recognition of Hispanic Heritage Month.

    ‘We should absolutely recognize Hispanic Heritage Month,” Pimentel commented at a recent command gathering. “As humans, we tend to forget history and past contributions of our personnel pretty quickly. I see Hispanic Heritage Month program as a mechanism to reflect on the past and to learn from the history of an organization.

    “We all learn and experience differently across our lives. This it is what make us unique as individuals. When we bring all this unique and diverse knowledge to an organization, it makes us stronger.”

    Pimentel also spoke on the Hispanic leaders that inspire him.

    “I love to learn about past contributions of our military and civilian personnel to the mission,” Pimentel said. “A good example is how Dr. Martinez-Lopez, a Puerto Rican just like me, was a general for the Army, commander of the U.S. Army Medical Research and Development Command, and now is Assistant Secretary of Health Affairs.

    “As a Puerto Rican, it gives me lot of pride, and sometime hope, because less than 1% of all admirals and generals come from a truly Hispanic background. I love to listen from where they came, how they fought challenges, how they apply their experiences and their impact to the mission.”

    Throughout Hispanic Heritage month, NMRC aims to recognize the contributions of our sailors, scientists and civilian personnel with roots in countries and cultures with Spanish-speaking heritage.

    NMRC is engaged in a broad spectrum of activity from basic science in the laboratory to field studies in austere and remote areas of the world to investigations in operational environments. In support of the Navy, Marine Corps, and joint U.S. warfighters, researchers study infectious diseases, biological warfare detection and defense, combat casualty care, environmental health concerns, aerospace and undersea medicine, medical modeling, simulation, operational mission support, epidemiology and behavioral sciences.

    MIL Security OSI –

  • MIL-OSI Russia: Moscow manufacturers have almost doubled their production volumes of high-tech products

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Today, there are about 370 enterprises in Moscow engaged in the production of computers, optics and electronics. Thanks to the active support of the city, they develop and bring innovative products to market, and also increase the range and volume of production. In just eight months of the year, companies have almost doubled the production of high-tech products compared to the same period in 2023. This was reported by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.

    “From January to August 2024, the capital saw a 96 percent increase in the production of computers, electronic and optical products. Shipments to customers increased by almost 40 percent and exceeded 386 billion rubles. Such results were achieved thanks to the support that the city provides to industrialists on behalf of Sergei Sobyanin. Today, companies have access to over 20 systemic tools, in particular, they can localize production in the territory of the special economic zone “Technopolis Moscow”, as well as obtain the status of a resident of the SEZ, attract a preferential investment loan or rent land for one ruble to implement a large-scale investment project,” said Maxim Liksutov.

    For example, last year thanks to Moscow Fund for Support of Industry and Entrepreneurship The capital’s optical equipment manufacturer was able to attract almost three billion rubles under the preferential investment lending program. The enterprise has the status of a resident of the special economic zone “Technopolis Moscow”. The funds received were used to purchase new equipment for the production of high-speed optical transceivers and create a test bench. The term of financial support is three years.

    “In the first eight months of 2024, Moscow saw an increase in the production of printed circuit boards, electronic computers, electricity production or consumption meters, semiconductor devices and much more. The products manufactured by the capital’s factories meet high quality standards and are in demand on the domestic and international markets. Thus, during the specified period, industrialists supplied customers with computers and peripheral equipment for more than 121 billion rubles, control and measuring and navigation devices for 117 billion rubles, and the volume of communications equipment shipped amounted to almost 68 billion rubles,” added the Minister of the Moscow Government, Head of the Moscow Department of Investment and Industrial Policy.

    Anatoly Garbuzov.

    In addition, manufacturers who want to enter foreign markets can benefit from the support of the Mosprom center. It offers information and methodological assistance, including verification of counterparties and participation in business missions and international exhibitions. Since 2022, with the support of the center, Moscow companies have found new partners in the markets of Latin America, Africa, the Middle East, Southeast Asia and other CIS countries.

    Moscow is the largest industrial and scientific-engineering center of Russia. There are more than 4.5 thousand industrial enterprises in the capital, employing over 750 thousand people. Every year, 150 new technology companies open here and dozens of investment projects are implemented, providing the city with additional jobs.

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

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

    http://vvv.mos.ru/nevs/item/145280073/

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: Update on Queen Mary Hospital missing patient incident

    Source: Hong Kong Government special administrative region

    Update on Queen Mary Hospital missing patient incident
    Update on Queen Mary Hospital missing patient incident
    ******************************************************

    The following is issued on behalf of the Hospital Authority:     The spokesperson for Queen Mary Hospital made the following update today (October 16) regarding a patient leaving the hospital   without notification earlier:     The 26-year-old male patient who left the orthopaedics and traumatology ward of the hospital without notification on October 14 has been located this afternoon. The hospital will continue to follow up on his condition.

     
    Ends/Wednesday, October 16, 2024Issued at HKT 19:20

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Women’s Commission welcomes “The Chief Executive’s 2024 Policy Address”

    Source: Hong Kong Government special administrative region

    Women’s Commission welcomes “The Chief Executive’s 2024 Policy Address”
    Women’s Commission welcomes “The Chief Executive’s 2024 Policy Address”
    *********************************************************************************

    The following is issued on behalf of the Women’s Commission:          The Women’s Commission (WoC) welcomes the initiatives on promoting women’s development in “The Chief Executive’s 2024 Policy Address” delivered by the Chief Executive, Mr John Lee, today (October 16).     The Chief Executive announced in the Policy Address that the Home and Youth Affairs Bureau (HYAB) will establish a network run by leading women from all walks of life and launch a mentorship programme, “She Inspires”. Under the programme, female university students will be paired with mentors from the senior management of different sectors, and will be provided with relevant training and activities.     ???The Chairman of the WoC, Dr Eliza Chan, said, “The WoC is committed to enable Hong Kong women to have more opportunities to showcase their talent and promote the advancement of their careers. Hong Kong women have excelled across various sectors and demonstrated exceptional professionalism and leadership, while young people play an important role in shaping the future of our country and Hong Kong. I am very delighted to learn the launch of the mentorship programme ‘She Inspires’ by the Government to equip Hong Kong female university students with the strength to ‘hold up half the sky’. I hope that with the support of the Government, we could work together with outstanding women leaders across various sectors and unleash the power of women, thereby contributing to the development and advancement of women.”     It is also mentioned in “The Chief Executive’s 2024 Policy Address Supplement” that the HYAB will continue to put forward several women-related projects, including continuing to organise the Family and Women Development Summit, keeping the one-stop family and women information portal under review and enriching its content, continuing to encourage women’s groups and non-governmental organisations to make good use of the Women Empowerment Fund, and continuing to implement, through the Community Care Fund, the Maintenance Mediation Pilot Scheme.     The WoC was established in 2001 and is committed to enable women in Hong Kong to fully realise their due status, rights and opportunities in all aspects of life. It adopts a three-pronged strategy, namely the provision of an enabling environment, empowerment of women through capacity building and public education to promote the well-being and interests of women.

     
    Ends/Wednesday, October 16, 2024Issued at HKT 19:28

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Family Council welcomes “The Chief Executive’s 2024 Policy Address”

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Family Council:
     
         The Family Council (Council) welcomes the initiatives on promoting good family values in “The Chief Executive’s 2024 Policy Address” delivered by the Chief Executive, Mr John Lee, today (October 16).
          
         The Chief Executive mentioned in the “The Chief Executive’s 2024 Policy Address Supplement” that the Home and Youth Affairs Bureau (HYAB) will co-operate with the Council to organise the Hong Kong Excellent Family Awards and continue the implementation of the Funding Scheme on the Promotion of Family Education to subsidise non-profit-making community projects in promoting family education.
          
         The Chairperson of the Council, Ms Melissa Pang, said, “I am pleased to note that the Government continues to promote the healthy development of families in Hong Kong, advocating good family values and reinforcing work in relation to family building, family education and family values through different channels to enhance family and social harmony. The Council will actively discuss with the HYAB on the relevant details of the activity in due course.”
          
         The Council also supports the initiatives to enhance women’s development as announced in the Policy Address, including establishing a network run by leading women from all walks of life and launching a mentorship programme, “She Inspires”. Under the progamme, female university students will be paired with mentors from the senior management of different sectors. Related training and activities will also be provided. Ms Pang hoped that the relevant initiatives will enable young females to pursue their career and contribute to the development of the country and Hong Kong society.
          
         The Council was established in 2007. It is committed to publicising the culture of loving families through organising various promotional activities. The Council has also been promoting the three sets of family core values, namely “Love and Care”, “Respect and Responsibility” and “Communication and Harmony” in the community.
     

    MIL OSI Asia Pacific News –

  • MIL-OSI: Phunware Issues Letter to Stockholders and Announces Business Update

    Source: GlobeNewswire (MIL-OSI)

    Phunware Announces Next Generation AI-Driven SaaS Platform

    Targets expansion into the Global Mobile App Market expected to exceed $420 Billion by 2028

    AUSTIN, Texas, Oct. 16, 2024 (GLOBE NEWSWIRE) — Phunware, Inc. (NASDAQ: PHUN) (“Phunware” or the “Company“), a leader in cloud enterprise solutions for mobile applications and related technologies, today issued a letter to stockholders from Mike Snavely, the Chief Executive Officer of Phunware, providing an update on Phunware’s existing and new business units and performance and achievements during 2024. The letter provides insight into Phunware’s transition to a new generative AI-based software development platform and several other new business initiatives, and its avenues for continued growth and success in 2025.

    Dear Fellow Stockholders:

    A letter to Stockholders is often written after the end of the year to reflect on successes and challenges and to share insights for the road ahead. However, the past few years have been anything but a normal path for Phunware and as I reflect on my first year as CEO, I felt the time was right to update you on 2024 and to share our vision for 2025 and beyond.

    Our primary focus is to create value for our stockholders. One key measure of that is our market capitalization which has varied from $12M late last year to a high of about $120M in the first quarter, settling at about $55M as of the writing of this letter. It’s certain that some of our stockholders’ positions have benefited from this price volatility and some have not. We acknowledge this by saying that we have always acted, and will continue to act, in what we see as the best long-term interests of our stockholders.

    Often, volatility drives opportunity, and over the months we have used the trading volume and price volatility to raise capital to stabilize the balance sheet and to provide the capital required to think bigger.

    This letter explains what we intend to do with that capital. We couldn’t be more optimistic about our future, and I want to briefly share what we have been doing to strengthen our core business, enhance our operations and right-size our cost structure in service of our strategic vision. More importantly, I am excited to highlight new initiatives we are launching. I believe these steps will help the market at large see why we believe we are a great investment and that our best days are ahead of us.

    I’ll remind you of our recent performance: so far this year, we have lowered our cash burn by more than half and have increased sales by two orders of magnitude in the first half of 2024 as compared to the same period in 2023.

      Six Months Ended  
        2024     2023   Change
    Bookings (contracts executed) $ 1,746   $ 168   939 %
    Revenue   1,932     2,640   -27 %
    Gross profit   994     610   63 %
    Net loss from:      
    Continuing operations   (4,923 )   (8,126 ) 39 %
    Discontinued operations     (2,667 ) 100 %
    Loss per share from:      
    Continuing operations   (0.65 )   (3.90 ) 83 %
    Discontinued operations     (1.28 ) 100 %
                 

    We believe our sales engine is just getting underway

    As we move toward the end of the year and into 2025, we continue to do the blocking and tackling to continue to sell and grow revenue. We have been able to recruit seasoned sales and marketing talent to help us get our message out to more customers and to win more deals. We are also announcing various initiatives to unlock additional markets and to position ourselves as the most advanced and highest potential company in mobile globally.

    Our Software Business continues to evolve to pick up new efficiencies and to unlock new markets

    Phunware is a market leader in providing enterprise cloud solutions for mobile applications. Our location-based services and patented wayfinding technology sets us apart from our competitors, providing real-time indoor navigation with unmatched precision and customization. Our technology for seamless transition from indoor wayfinding to outdoor location sharing and geofencing is best in class. Phunware is widely known for creating first rate custom mobile applications for large enterprise customers with complex needs to engage with their end users and to facilitate profitable engagements and experiences.

    Our software development platform for mobile applications is currently designed to create fully customizable apps and provide related services for larger enterprises. In the first half of 2024, we have seen dramatic growth (939% over the comparable period in 2023) in bookings. Our customers like what we do for them and notably we are getting terrific word of mouth references, accelerating our growth in major customers. Finally, we have added new features and functionalities to our existing products, including artificial intelligence features like an AI Personal Concierge for property guests and Intelligent Reporting for property owners.

    Leveraging the Power of Generative AI, our Platform Will Enable Rapid Development and Monetization of Custom Mobile App Solutions

    Today, we are announcing the development of a new generative AI-based platform designed to democratize access to world-class design, user experience and content creation so that businesses of any size can design, create, build, and deploy high-quality custom mobile applications in days or even hours. By leveraging generative AI, we believe that the new platform will simplify mobile app design and content creation and drastically reduce the need for expensive and time-consuming design and development investments.   

    This platform marks the next chapter in Phunware’s evolution, building on a decade and a half of providing custom mobile app solutions to several thousand U.S. and global customers, including some of the most recognized Fortune 100 & 500 brands.  

    The platform is designed to harness and integrate the power of generative AI to enable all businesses to quickly develop and monetize custom mobile app solutions, making them accessible to small and medium-sized businesses. We also expect to add new AI-related features and functionalities to all of Phunware’s mobile app offerings, reinforcing our position as a leader and innovator in the continually-growing mobile app market.  

    Phunware’s Competitive Advantages in a Multi-Billion Dollar Global Mobile App Market1
    Our planned incorporation of AI into our SaaS platform is driven by our view that consumer engagement with mobile-first solutions and artificial intelligence technology will continue to play a critical role across industries. Key competitive advantages of this platform will include:

    • AI-Driven Customization: Generative AI frameworks provide customizable templates for rapid mobile app creation, reducing development costs and accelerating time-to-market, and include important features and functionalities such as AI-powered personal concierge and contextual engagement.
    • End-to-End Modular Design: Our independent software modules, such as location-based services, digital advertising tools such as programmatic advertising and real-time data analytics support flexible audience building and engagement strategies. 
    • Advanced Location-Based Services (LBS): Our market leading indoor navigation and outdoor geofencing systems continue to offer even more precise geopositioning and collection of user data using a combination of GPS, Wi-Fi, BLE, and sensor data for customized on-venue user engagement in sectors such as hospitality, healthcare, retail, residential, sports and convention centers, gaming facilities and other verticals involving large real properties or portfolios of properties. 
    • Data Analytics: Our enhanced review and analysis of data of mobile app usage and user behaviors support assessment of intent and other metrics to drive user engagement, conversion and retention. 
    • Multi-Industry Capability: Our platform is designed to provide low- or no-code custom mobile apps across a range of sectors, from hospitality and healthcare to other verticals such as advocacy, retail and ecommerce in the U.S. and other leading economies including China, Brazil and India. 

    The adoption of our generative AI-powered SaaS platform is expected to benefit our existing customers and all industry verticals and create meaningful opportunities for accessing new markets. Our platform is designed to automate the development intake process, reduce development costs and time-to-market, and enable innovation and user engagement through AI. We are leading the way to make AI-powered mobile applications accessible to enterprise and small and medium business customers alike. 

    We expect our new AI-powered SaaS platform will launch mid-2025. We also expect to further integrate AI and machine learning capabilities into our new platform in 2025. We intend to integrate AI-driven predictive analytics into the platform by Q3 2025, providing businesses with advanced tools for analyzing customer data to predict future behaviors. We also expect the new platform to offer seamless integrations of its mobile apps with additional cloud service providers, ensuring modern scalability, flexibility, efficiency and security for businesses of all sizes.  

    Digital Advertising Business

    We also have a growing business in providing digital advertising campaigns for a range of customers.  We work with agencies and directly with our own customers, from public companies to non-profit organizations to governmental entities. We place general awareness, performance-based and retargeting advertising campaigns for our customers, enabling them to successfully reach their audiences and achieve their marketing objectives. We have provided digital advertising and related placements to hundreds of customer campaigns in 2024 to date and continue to see strong demand for these services.

    We plan to expand our digital advertising platform in several additional ways. We intend to relaunch our programmatic advertising capabilities into our core mobile platform. This will enable us to help our customers conduct more efficient, scalable digital advertising campaigns through our platform and through partnerships or alliances with one or more third-party programmatic advertising platforms. The integrated solution will be designed to utilize generative AI to help our customers personalize their digital advertising campaigns to individual users based on behavior, preferences and demographics to enhance user engagement and increase conversions. Finally, we intend to serve a global audience with these capabilities, tied to our mobile application portfolio growth.

    Voter / Advocacy Engagement Business

    We are also planning to invest in the application of our AI-powered platform to advocacy and voter engagement. You will recall that we developed and implemented the Donald J. Trump 2020 Presidential Campaign app, a highly regarded and well received voter / advocacy engagement app.

    We think this was just the tip of the iceberg. Every election cycle, candidates set new records in spending and we believe that our AI-powered platform can help make that spend more impactful. Further, we believe that it is more important than ever for Phunware to help political candidates and voters connect, engage and participate in the voting process, and for individuals and organizations to become knowledgeable about, educate others about, and advocate for events, causes and issues that are important to them. Our platform can help them do just that.

    We plan to continue to use our AI-powered platform to develop custom mobile apps for election campaigns, political action committees, and other organizations to identify, engage and turn out voters. Our mobile advertising solutions will be a part of driving voter engagement as well.   We may invest in and partner with other technology providers and organizations that use mobile technologies to drive voter and advocacy engagement. We will likely pursue these opportunities both in the U.S. and with strategic partners and alliances globally.

    Financial Strength

    Our spend has been adjusted to fit the size of our business today and to focus investment on the future. We believe that sober execution against our business plan is the right way to deliver long-term stockholder value and we are focused on the careful stewardship of the company to bring our vision to life.

    1. We have zero debt and believe we have adequate access to the necessary resources to support our investments and sustain our business as we invest in the evolution and growth of our company
    2. We have seen dramatic improvement to our year-to-date software and advertising business bookings which we believe demonstrates a growing demand for our software and advertising offerings
    3. We are judiciously investing in sales, engineering, AI, marketing and business development to fulfill our vision for the company’s future

    We have not said much in the markets recently. In retrospect, we’ve probably said too little. Moving ahead, we intend to continue to provide our stockholders with additional updates on our businesses and products from time to time. Our focus will remain on platform launch, product roadmaps and timelines; innovation; operational efficiency; building thought leadership; and inorganic growth, including tactical and strategic acquisitions, investments, partnerships and alliances. And we will endeavor to keep stockholders advised of significant occurrences every step of the way.

    I’ll end where I started…I believe Phunware’s best days are ahead. We look forward to continuing to create and enhance value for our stockholders, customers, employees and the consumers who use our products.

    Thank you for your ongoing support.

    Mike Snavely

    Chief Executive Officer

    About Phunware  

    Phunware, Inc. (NASDAQ: PHUN) is an enterprise software company specializing in mobile app solutions. We provide businesses with the tools to create, implement and manage custom mobile applications and analytics, digital advertising and location-based services. Phunware is transforming mobile engagement by delivering scalable and personalized mobile app experiences.  

    Phunware’s mission is to achieve unparalleled connectivity and monetization through widespread adoption of Phunware mobile technologies, by leveraging brands, consumers, partners and digital asset holders and market participants. Phunware is poised to expand its software products and services audience and industry verticals through its new platform, utilize and monetize its patents and other intellectual property rights and interests, and update and reintroduce its digital asset ecosystem for existing holders and new market participants.  

    For more information, please visit https://www.ai.phunware.com or contact:   

    MZ Group, North America 
    Joe McGurk, Managing Director
    917-259-6895 
    PHUN@mzgroup.us 

    Phunware Investor Relations:  

    CORE IR 
    516-222-2560 
    investorrelations@phunware.com 

    Safe Harbor / Forward-Looking Statements  

    This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “expose,” “intend,” “may,” “might,” “opportunity,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. For example, Phunware is using forward-looking statements when it discusses the proposed offering and the timing and terms of such offering and its intended use of proceeds from such offering should it occur.  

    The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the SEC, including our reports on Forms 10-K, 10-Q, 8-K and other filings that we make with the SEC from time to time. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. These risks and others described under “Risk Factors” in our SEC filings may not be exhaustive.  

    By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if our results or operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods. 

    ___________________________

    1 Grand View Research, Inc. Mobile Application Market Size, Share & Trends Analysis, July 2024: market size is projected to reach approximately $322 billion in 2026, $367 billion in 2027, and $421 billion in 2028.   

    The MIL Network –

  • MIL-OSI: Condor’s Initial Artificial Lift Program Increases Well Productivity by 100% to 300%

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Oct. 16, 2024 (GLOBE NEWSWIRE) — Condor Energies Inc. (“Condor” or the “Company”) (TSX: CDR), a Canadian based energy transition company is pleased to provide an operational update for its eight gas field production enhancement project in Uzbekistan.

    Production for the third quarter of 2024 averaged 10,010 boepd with corresponding sales of $19 million. During the third quarter, the Company started a multi-well workover program, and the initial results are exceeding expectations. Seven made-in-Canada artificial lift systems (“plunger lifts”) have been installed with the initial three wells adding a cumulative 330 boepd of incremental production. The corresponding gas flow rates are 100% to 300% higher than prior to the workovers based on 24 hour production tests of each well. The four other wells are currently being reactivated and expected to be producing shortly.

    In addition to further plunger lift installations, the ongoing workover program will also perforate by-passed and new gas reservoir intervals that were recently identified from an ongoing logging program and detailed reviews of the existing well stock.

    Given the initial workover program successes, the Company has contracted a second workover rig to begin activities by early November 2024. With over 100 wells in the eight fields, there is a large inventory of both producing and shut-in wells available for evaluation, recompletion and optimization opportunities to profitably grow production.

    The Company is currently installing a made-in-Canada in-line flow separation system which separates water from the gas streams at the field gathering network rather than at the production facility. This will reduce pipeline flow pressures that can lead to higher reservoir flow rate. This technology has been successfully deployed in similar conditions in Western Canada and is expected to be operational by early November 2024. Additional systems are being manufactured for installation in the coming months.

    Don Streu, President and CEO of Condor commented: “We are very excited that the initial workover program results are greatly exceeding expectations. Early operational learnings have reduced subsequent workover days and well reactivation times. As the second workover rig ramps up, we are confident production rates will materially increase as there will be a larger inventory of enhanced wells returning to production. We also anticipate the proven in-line flow separators will add incremental production during this quarter.

    “In parallel with our production enhancement activities, we’ve implemented our safety culture through ongoing employee and contractor training which has resulted in zero lost time and environmental incidents since the start of the project.”

    ABOUT CONDOR ENERGIES INC

    Condor Energies Inc is a TSX-listed energy transition company that is uniquely positioned on the doorstep of European and Asian markets with three distinct first-mover initiatives: increasing natural gas and condensate production from its existing fields in Uzbekistan; an ongoing project to construct and operate Central Asia’s first LNG facility in Kazakhstan; and a separate initiative to develop and produce lithium brine in Kazakhstan. Condor has already built a strong foundation for reserves, production and cashflow growth while also striving to minimize its environmental footprint.

    FORWARD-LOOKING STATEMENTS

    Certain statements in this news release constitute forward-looking statements under applicable securities legislation. Such statements are generally identifiable by the terminology used, such as “anticipate”, “appear”, “believe”, “intend”, “expect”, “plan”, “estimate”, “budget”, “outlook”, “scheduled”, “may”, “will”, “should”, “could”, “would”, “in the process of” or other similar wording. Forward-looking information in this news release includes, but is not limited to, information concerning: the timing and ability to install additional plunger lift systems; the timing and ability to reactivate four other wells; the timing and ability to perforate by-passed and new gas reservoir intervals that were recently identified; the timing and ability to contract a second workover rig to begin activities by early November 2024; the timing and ability to install and commission the inline flow separator by November 2024; the timing and ability of the inline separator to reduce pipeline flow pressures that can lead to higher reservoir flow rates; the timing and ability to manufacture additional separation units for installation in the coming months; the timing and ability to reduce subsequent workover days and well reactivation times; the timing and ability to materially increase production rates; and the timing and ability for the in-line flow separators to add incremental production during this quarter.

    ABBREVIATIONS

    The following is a summary of abbreviations used in this news release:
       
    boepd Barrels of oil equivalent per day
    $ Canadian dollars
       

    The TSX does not accept responsibility for the adequacy or accuracy of this news release.

    For further information, please contact Don Streu, President and CEO or Sandy Quilty, Vice President of Finance and CFO at 403-201-9694.

    The MIL Network –

  • MIL-OSI: TransUnion Analysis Finds Fraud Costing Businesses Equivalent of Nearly 7% of Revenues

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Oct. 16, 2024 (GLOBE NEWSWIRE) — A global TransUnion (NYSE: TRU) analysis found that fraud continues to significantly impact businesses and their bottom lines. The newly released H2 2024 Update to the State of Omnichannel Fraud Report, which explores fraud trends in the first half (H1/January 1-June 30, 2024) of this year, also found that the lender risk exposure to synthetic identities for U.S. auto loans, bank credit cards, retail credit cards and unsecured personal loans reached their highest point ever.

    Among the key findings in the report were the results of a TransUnion survey of more than 800 business leaders in Canada, India, the U.K. and the U.S. which revealed total fraud losses of 6.5% equivalent of their companies’ revenue. This totaled approximately $359 billion among these business leaders’ organizations, a number which projects out exponentially greater when considering these represent only a small percentage of business leaders. Among those surveyed in the U.S., they said their company lost the equivalent of 6.7% of their revenue due to fraud over the past year, totaling $112 billion.

    In addition, 75% of the global survey respondents said that every type of fraud they measured stayed the same or increased year-over-year (YoY). Nearly half of respondents indicated that scam/authorized fraud, wherein a person is tricked into giving up something of value, saw the greatest YoY increase. It was also the most common cause of fraud loss according to global respondents at 31% and US respondents at 35%. In fact, in the U.S., this was more than double the next most common cause of fraud losses – synthetic identity fraud at 17%.

    “Protecting customers and their businesses from fraud is essential to enabling safe and tailored consumer experiences. These findings reveal that despite the good-faith efforts that are being undertaken by global organizations to identify and prevent fraud to date, fraudsters continue to evolve and it’s vital that fraud prevention methods keep up with the changing times,” said Steve Yin, global head of fraud at TransUnion. “Business that aren’t already doing so should ensure that they are taking advantage of fraud prevention technologies such as identity verification, IP intelligence, device reputation and synthetic identity detection as critical components of their fraud prevention programs.”

    According to proprietary insights from TransUnion’s global intelligence network, the global rate of suspected Digital Fraud remained stubbornly high in H1 2024 at 5.2% of all transactions. For transactions where the consumer was located in the U.S., 4.6% of digital transactions were suspected to be fraudulent over the period. Breaking it down by the industry, the highest rate of suspected Digital Fraud for transactions where the consumers were in the U.S. was the gaming sector, for which 13.3% of all transactions in that industry were suspected to be fraudulent in H1 2024.

    Synthetic Identity Lending Exposure Reaches New Record High

    Potentially driven in part by the wealth of stolen identities acquired via data breaches, accounts opened using synthetic identities continue to put lenders at risk. In fact, the increases among overall lender exposure to synthetic identities for US auto loans, bank credit cards, retail credit cards and unsecured personal loans continued in H1 2024. TransUnion documented such exposure rising from $3.0 billion in H1 2023 to $3.2 billion in H1 2024, an all-time high and growth of 7% YoY. The share of accounts opened for the four tradelines by synthetic identities rose 18% YoY, also reaching an all-time high.

    The auto loan industry continued to be the most impacted by lender exposure to synthetic identities among the four tradelines, accounting for $2.0 billion of the total in H1 2024, the fourth consecutive first half of the year in which auto has seen the greatest exposure. In fact, since surpassing bankcards in H1 2021, auto loan exposure is now double that of bankcard, which is currently at $1.0 billion.

    “Fraudsters are increasingly using synthetic identities to accumulate balances, particularly targeting the auto industry,” said Yin. “Unfortunately, this warrants attention to as the market is now facing a rising threat of charge-offs.”

    Lender Exposure to Synthetic Identities Continues to Trend Upward, Led by Auto

      End of H1 2020 End of H1 2021 End of H1 2022 End of H1 2023 End of H1 2024
    Auto Loans $871M $869M $1.3B $1.8B $2.0B
    Bankcards $966M $783M $951M $1.1B $1.0B
    Retail Credit Cards $250M $183M $157M $145M $121M
    Unsecured Personal Loans $48M $36M $57M $57M $52M
    Totals $2.1B $1.9B $2.4B $3.0B $3.2B

    Source: TransUnion TruValidate™ data

    The percentage of newly-opened accounts connected to synthetic identities has also seen a steady rise since 2020, and in H1 2024 stood at 0.20% of all accounts associated with the four tradelines in the table above. The tradeline with the highest percentage in H1 2024 was bank card, which was at 0.33% for the period, followed closely by auto loans at 0.27%.

    Industry Perspective: Online Forums and Dating Sites Most Impacted by Digital Fraud in H1 2024

    In H1 2024, the communities industry – which includes web properties like online forums and dating sites – experienced the largest percentage (11.5%) of suspected Digital Fraud globally. This represents a 23% increase over H1 2023. TransUnion’s communities customers reported profile misrepresentation as the most frequent type of fraud they witnessed in H1 2024. Not surprisingly, the communities industry had the highest suspected Digital Fraud rate in seven of the 19 countries and regions analyzed in H1 2024.

    In terms of global volume, synthetic identity fraud was the fastest-growing Digital Fraud type across industries from H2 2023 to H1 2024, increasing by 153%. Electronic fund transfers fraud saw the highest YoY growth, up 113% from H1 2023 to H1 2024. However, promotion abuse, which is defined as consumers or fraudsters taking advantage of marketing offers to receive unintended financial incentives, was the most common Digital Fraud type globally in H1 2024, with 3.6% of Digital Fraud reported to TransUnion by its customers.

    TransUnion came to its conclusions about Digital Fraud based on intelligence from its identity and fraud product suite that helps secure trust across channels and delivers efficient consumer experiences – TransUnion TruValidate. The rate or percentage of suspected Digital Fraud attempts reflect those that TransUnion customers determined met one of the following conditions: 1) denial in real time due to fraudulent indicators, 2) denial in real time for corporate policy violations, 3) determined to be fraudulent upon customer investigation, or 4) determined to be a corporate policy violation upon customer investigation —compared to all transactions it assessed for fraud. 

    Download the TransUnion H2 2024 Update to the State of Omnichannel Fraud Report to learn more. Specific country and regional data in the report include the United States, Botswana, Brazil, Canada, Chile, Colombia, the Dominican Republic, Hong Kong, India, Kenya, Mexico, Namibia, the Philippines, Puerto Rico, Rwanda, South Africa, Spain, the United Kingdom and Zambia.

    For more information and insights about the global fraud trends, please download the report. Consumers who believe they may be a victim of fraud can find resources and information here.

    About TransUnion (NYSE: TRU)

    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.
    http://www.transunion.com/business

    Contact Dave Blumberg
      TransUnion
       
    E-mail david.blumberg@transunion.com
       
    Telephone 312-972-6646

    The MIL Network –

  • MIL-OSI Africa: GITEX DIGI_HEALTH 5.0 Dubai showcases the future of Artificial Intelligence (AI)-driven innovations

    Source: Africa Press Organisation – English (2) – Report:

    DUBAI, United Arab Emirates, October 16, 2024/APO Group/ —

    • Innovators and leaders from the most influential medical labs, hospitals, healthcare institutions, research centres and academia gathered in Dubai to discuss AI opportunities
    • Neurology and remote patient monitoring were among the key topics on the agenda for discussion
    • Tech enterprises and providers showcased the most impactful digital solutions to accelerate connectivity and drive transformation

    Transformative health tech solutions were at the heart of conversations at GITEX GLOBAL’s GITEX DIGI_HEALTH 5.0 Dubai (www.GITEX.com), where thousands of tech enthusiasts and healthcare pioneers converged at Dubai World Trade Centre (DWTC) for a day of future health discussions.

    The world’s largest tech event provided a platform to showcase the latest AI-driven digital health and health tech solutions, spotlighting innovations that are reshaping patient care on a global scale.

    The event aligns with the UAE government’s pioneering efforts to advance the digital health ecosystem, with the UAE’s digital health market projected to reach USD $487.30 million by the end of this year. The show also supports Dubai’s commitment to adopting digital practices that benefit medical professionals and patients alike.

    With AI-powered healthcare investments projected to make up 20% of global healthcare spending by year’s end, GITEX GLOBAL set the stage for industry leaders to explore how AI is revolutionising delivery and enhancing outcomes for millions of patients.

    GITEX DIGI_HEALTH 5.0 Dubai brought together global professionals and leaders to build on that figure and discuss the impact the innovative tool is having on the day-to-day operations while also providing an outlook of what the future would hold. It attracted some of the biggest names in the global landscape including labs such as Biogen, Roche and Sanofi as well as tech giants Microsoft, M42, Lenovo. Also present were established medical institutions including Samsung Medical Centre, Harvard Medical School, Roche and many more.

    Pioneering Robotic and AI in Digital Health

    The evolving role of robotics in health tech was a major focus of the showcase and conference programme. Denis Ledenkof, Founder of Robosculptor, showcased how AI-powered robotics is transforming patient care via an autonomous platform for body treatments developed by health industry experts, emphasising robotic technology is providing plenty of benefits.

    He said: “AI is a powerful tool and is leading to better patient preferences. When it comes to robotic treatments, they help improve the experience of patients by just giving them access to a wider range of therapies as well as enhancing accessibility.

    “One example that we’re using is an application that functions similarly to a taxi or delivery app where people can scan for treatments and displays the information that users would be looking for.”

    Alex Aliper, Co-Founder and President of Insilico Medicine, a Hong Kong digital health unicorn – was part of another panel that delved into genomics. He discussed how precision medicine, powered by AI, is revolutionising genetic profiles – an approach set to transform treatments for diseases previously deemed incurable.

    The future of AI in neurology

    Meanwhile, following a study which showed that AI can reduce the risk of new vascular events by 25.6% in stroke patients, Aneesh Singhal, M.D, Director, Comprehensive Stroke Center & Vice-Chair of Neurology at Massachusetts General Hospital, gave an overview of what to expect in the field of neurology.

    In his presentation, he discussed the Golden Bridge II trial, which showed that the use of an AI-based clinical decision support system had a significantly greater impact on the number of vascular events and stroke care quality than standard care in patients with acute ischemic stroke (AIS).

    Elsewhere, Jong-Soo Choi, Chief Technology Officer at Samsung Medical Centre, one of Korea’s most renowned hospitals, shared insights into cutting-edge technologies such as Remote Patient Monitoring (RPM) and gene therapy and how they are setting the stage for the next wave of change.

    Smart lens among innovations unveiled

    Dubai’s own deep tech company Xpanceo made waves with the unveiling of smart contact lens for 3D imaging, and another for data reading, demonstrating wireless data transmission capabilities integrated directly into the lens. These innovations are set to redefine the boundaries of how data in real time is perceived, pushing the digital health landscape into a new era of smart diagnostics.

    Oracle Health also displayed its innovative Clinical Digital Assistant. Leveraging AI-powered driven voice recognition, the assistant autonomously documents physician-patient encounters, interprets the information, and accurately inputs a draft note into the Oracle Health EHR, allowing the physician to quickly review and approve the clinical documentation.

    GITEX GLOBAL is seamlessly connecting the world’s largest network of tech events with GITEX EUROPE Berlin, GITEX ASIA Singapore, GITEX AFRICA Morocco, and GITEX NIGERIA all part of its portfolio. These events are fostering collaboration and driving innovation to shape the tech landscape of tomorrow.

    GITEX GLOBAL this year announced the launch of GITEX DIGI_HEALTH 5.0 Expo-Summit in Thailand, from 10-12 September 2025, in a destination touted with one of the highest potentials to leapfrog the digital health industry, putting the spotlight on digital solutions to address the rising demands across Asia.

    More information on GITEX GLOBAL and to purchase passes, please visit http://www.GITEX.com

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: SCS briefs civil servants on Policy Address initiatives (with photo)

    Source: Hong Kong Government special administrative region

    SCS briefs civil servants on Policy Address initiatives (with photo)
    SCS briefs civil servants on Policy Address initiatives (with photo)
    ********************************************************************

         After the announcement of “The Chief Executive’s 2024 Policy Address”, the Secretary for the Civil Service, Mrs Ingrid Yeung, wrote to civil service colleagues this afternoon (October 16) and met with representatives from the four civil service central consultative councils and the four major service-wide staff unions to brief them on policy initiatives relating to civil service matters in the Policy Address.      Mrs Yeung’s letter to civil service colleagues, entitled “Enhance Governance Capabilities and Continue to Strengthen Management”, outlined the policy initiatives including the strengthening of civil service management and promotion of digitalisation.      She said, “The Hong Kong Special Administrative Region Government is making all-out, concerted efforts to build a vibrant economy, seek development opportunities and improve people’s livelihood. Civil servants must continue to serve the public proactively and render full support to the Chief Executive in his administration of Hong Kong, and do so with loyalty, dedication and a spirit of embracing challenges, reforms and innovation. This will elevate Hong Kong to new heights and build a better home for people.”      Mrs Yeung added, “To move forward, we need a high-quality and efficient government team. For this reason, I had a meeting with civil service unions after the delivery of the Policy Address, so that the unions and civil servants would have a clear understanding and appreciation of the Government’s governing tenets and measures. This would enable them to render better support to the Chief Executive in his administration of Hong Kong and  become a solid supporting force for Hong Kong’s advancement.”

     
    Ends/Wednesday, October 16, 2024Issued at HKT 19:50

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Reduction of duty on liquor with alcoholic strength of more than 30 per cent

    Source: Hong Kong Government special administrative region

    Reduction of duty on liquor with alcoholic strength of more than 30 per cent
    Reduction of duty on liquor with alcoholic strength of more than 30 per cent
    ****************************************************************************

         As announced in “The Chief Executive’s 2024 Policy Address”, the Government would reduce the duty on liquor with an alcoholic strength of more than 30 per cent (liquor) by introducing a two-tier system with different duty rates for each tier with effect from today (October 16).          Under the new two-tier system, the duty rate for liquor with import price over $200 will be reduced from 100 per cent to 10 per cent for the portion above $200, while the duty rate for the portion of $200 and below as well as liquor with import price of $200 or below will remain at 100 per cent. The new duty rates will only be applicable to liquor of up to one litre. If a larger container is used, the duty payable will be calculated on a “value per litre” basis.      A Government spokesman said, “Hong Kong has been adopting a simple ad valorem duty system on liquor since 1994. Given the experience in waiving wine duty in 2008, a reduction of liquor duty should similarly promote high-end liquor trade, thereby giving impetus to the development of other high value-added sectors such as logistics and storage, tourism as well as high-end food and beverage consumption, creating more job opportunities and bringing overall benefits to society. With the introduction of a two-tier system with different duty rates based on value, we believe that the proposal has struck a balance between facilitating the liquor business and guarding public health against binge drinking as a result of the reduction in liquor duty.”      The above two-tier system is set out in the proposed resolution to be moved by the Secretary for Commerce and Economic Development pursuant to section 4(2) of the Dutiable Commodities Ordinance (Cap. 109) (the proposed resolution), which forms part of the Public Revenue Protection (Duty on Liquor) Order 2024 (the Order) made by the Chief Executive today to give full force and effect of law to the proposed resolution so long as the Order remains in force.      The Order and the proposed resolution have been published in the Gazette today. The Hong Kong Customs and Excise Department has also put up notices at boundary control points and on its websites for travellers and the trade.

     
    Ends/Wednesday, October 16, 2024Issued at HKT 19:56

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Hong Kong Customs raids two suspected illicit cigarette storage centres and detects one case involving illicit cigarette distribution vehicle (with photos)

    Source: Hong Kong Government special administrative region

    Hong Kong Customs raids two suspected illicit cigarette storage centres and detects one case involving illicit cigarette distribution vehicle (with photos)
    Hong Kong Customs raids two suspected illicit cigarette storage centres and detects one case involving illicit cigarette distribution vehicle (with photos)
    ******************************************************************************************

         Hong Kong Customs today (October 16) conducted anti-illicit cigarette operations in Hung Hom, Kwun Tong and Wong Tai Sin, shutting down two suspected illicit cigarette storage centres and detecting a case involving an illicit cigarette distribution vehicle. A total of about 183 000 suspected illicit cigarettes, with a total estimated market value of about $820,000 and a duty potential of about $600,000, were seized. Three persons suspected to be connected with the cases were arrested.     In the first case, Customs officers raided a residential unit on Wu Kwong Street, Hung Hom, this afternoon and seized about 120 000 suspected illicit cigarettes therein. A 50-year-old woman who claimed to be unemployed was arrested.     In the second case, Customs seized about 54 000 suspected illicit cigarettes from a residential unit on Hong Ning Road, Kwun Tong, this afternoon. A 47-year-old woman who claimed to be a construction worker was arrested.     In the third case, Customs officers intercepted a private car on the roadside in Choi Wan Estate, Wong Tai Sin, this evening. Upon inspection, about 9 000 suspected illicit cigarettes were seized inside the vehicle and a man, aged 30 and claiming to be a worker, was arrested.      Investigations of the three cases are ongoing.     Customs will continue its risk assessment and intelligence analysis for interception at source as well as through its multipronged enforcement strategy targeting storage, distribution and peddling to spare no effort in combating illicit cigarette activities.     Customs reminds members of the public that it is an offence to buy or sell illicit cigarettes. Under the Dutiable Commodities Ordinance, anyone involved in dealing with, possession of, selling or buying illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $1 million and imprisonment for two years.     Members of the public may report any suspected illicit cigarette activities to Customs’ 24-hour hotline 1820 80 80 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002/).

     
    Ends/Wednesday, October 16, 2024Issued at HKT 19:50

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: TAC Chairman welcomes “The Chief Executive’s 2024 Policy Address”

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Transport Advisory Committee:

         The Chairman of the Transport Advisory Committee (TAC), Professor Stephen Cheung, welcomed the initiatives related to the construction of transport infrastructure and the development of the low-altitude economy announced in “The Chief Executive’s 2024 Policy Address” delivered today (October 16).

         Professor Cheung said, “The Policy Address pointed out that the Government is actively following through the Major Transport Infrastructure Development Blueprint for Hong Kong, under which the two railways projects, namely the Hung Shui Kiu Station and the Northern Link Main Line, are to commence construction this year and next year respectively, and at the same time pressing ahead with the two cross-boundary railway projects, namely the Hong Kong-Shenzhen Western Rail Link (Hung Shui Kiu-Qianhai) and the Northern Link Spur Line; as well as actively taking forward the three smart and green mass transit systems in East Kowloon, Kai Tak and Hung Shui Kiu/Ha Tsuen and compressing the time required for construction. I welcome the Government’s effort to implement the major transport infrastructure projects in an orderly manner to drive economic development and strengthen the connectivity between Hong Kong and Shenzhen.

         “I note that the Policy Address announced that the Government will actively promote the development of the low-altitude economy in Hong Kong. I appreciate the Government’s foresight and eagerly anticipate the application of related technologies in various fields, such as the delivery of goods and passenger transportation.

         “I am also pleased to note that the Government has set indicators for different measures and set out the ongoing policy measures, including the provision of automated parking spaces in newly completed government car parks and short-term tenancy car parks, the progressive implementation of the pilot schemes related to smart mobility under the Traffic and Transport Strategy Study, and facilitation of autonomous vehicles technology, in order to enhance transparency and ensure their timely implementation.

         “The TAC will, as always, continue to earnestly offer views on various traffic and transport policies and measures for the Government to proceed with building and enhancing our transportation system, with a view to elevating and consolidating Hong Kong’s status as a high-quality liveable city and regional logistics hub.”

    MIL OSI Asia Pacific News –

  • MIL-OSI Global: Black Myth: Wukong – how China’s gaming revolution is fueling its tech power

    Source: The Conversation – USA – By Shaoyu Yuan, Dean’s Fellow at the Division of Global Affairs, Rutgers University – Newark

    Black Myth: Wukong has enthralled gamers around the world with its rich visuals and vigorous fight sequences. Courtesy Game Science

    It may sound far-fetched, but the future of global technology supremacy could hinge on a video game.

    Black Myth: Wukong, China’s latest blockbuster, isn’t just breaking gaming records – it could be driving a critical shift in the global balance of technological power. What seems like just another action-packed video game is, in reality, a vital component in Beijing’s larger strategy to challenge Western dominance in the tech industry.

    The game, released by Chinese company Game Science on Aug. 19, 2024, is based on the legendary 16th century Chinese novel “Journey to the West.” The novel tells the story of a monk, Xuanzang, who journeys to India in search of Buddhist scrolls. The monkey Sun Wukong protects the monk by confronting and battling various demons and spirits.

    Black Myth: Wukong has captivated millions with its stunning visuals and storytelling. It quickly became a cultural sensation in China and abroad, attracting widespread attention and praise for its graphic fidelity and technological sophistication.

    As global affairs scholars, we see that the game’s success goes beyond the number of downloads or accolades. It’s what this success is driving within China’s technology sector that has far-reaching consequences.

    Video games and global power

    For years, China has been playing catch-up in the tech race, particularly in the production of semiconductors – the tiny microchips that power everything from smartphones to advanced artificial intelligence systems. The United States has maintained its dominance in this field by limiting China’s access to the most advanced chip-making technology.

    As of 2024, China has shifted away from its aggressive “wolf warrior” diplomacy to a more cooperative approach in order to rebuild international ties. The government has also issued mandates for companies like Huawei to develop domestic chips. However, China’s success in boosting semiconductor development and production using these approaches has been limited.

    Historically, video games have played a significant role in driving technological innovation in the semiconductor industry. From the early days of the 8-bit Nintendo Entertainment System to the modern PlayStation 5, gaming has always pushed chipmakers to develop faster, more efficient processors and graphics processing units, or GPUs. The intense graphical requirements of modern games – high resolutions, faster frame rates and real-time rendering – demand the most advanced semiconductor technology. The development of advanced GPUs by companies like NVIDIA was directly influenced by the gaming industry’s needs.

    Gamers require advanced processors to enjoy Black Myth: Wukong’s high-end visual and gameplay experience. Built using the state-of-the-art Unreal Engine 5 video game development tool, the game is a visual spectacle featuring lifelike graphics, seamless open-world environments and complex combat systems. The game is available for PlayStation 5 and PCs, and Game Science plans to release an Xbox version.

    Black Myth: Wukong features rich visuals and intricate gameplay.
    Courtesy of Sony Interactive Entertainment LLC

    As Black Myth: Wukong sweeps across gaming platforms, it not only puts pressure on China’s semiconductor makers to build more and better chips, but it also reveals the vast market potential for high-performance hardware, especially for gaming PCs equipped with powerful GPUs. The game’s success showcases just how big the demand is.

    Market analysts expect the Chinese video game industry to reach revenues of US$66.13 billion in 2024, compared with $78.01 billion in the U.S. Analysts predict the game will have annual sales of 30 million to 40 million copies in 2024.

    China’s gaming industry has surged into a global powerhouse, yet it remains dependent on foreign-made chips. Coupled with the West’s restrictions on chip exports, Wukong has become a key catalyst for China’s semiconductor development, and domestic companies now face growing pressure to innovate.

    This pressure aligns with Beijing’s broader technological ambitions. The government’s “Made in China 2025” plan calls for technological self-reliance, particularly in sectors like semiconductors, where China lags behind. And advanced GPUs haven’t been confined to the entertainment industry. They have become integral to advances in AI, including deep learning and autonomous systems.

    Flexing China’s cultural muscle

    While it might seem strange to link video games with geopolitics, Black Myth: Wukong is more than just entertainment. It’s a tool in China’s soft power arsenal. Soft power is nations influencing each other through cultural exports. For decades, the West, particularly the U.S., dominated global culture through Hollywood, music and video games.

    Now, China is flexing its cultural muscle. The success of Black Myth: Wukong abroad, where it has been hailed as a game-changing title, is part of Beijing’s strategy to export its culture and technological prowess. Millions of gamers around the world are now being exposed to Chinese mythology, art and storytelling through a highly sophisticated digital medium.

    ‘China Stay Winning’ American YouTubers react enthusiastically to Black Myth: Wukong. (Audio NSFW)

    But Black Myth: Wukong isn’t just a cultural triumph for China; it’s a warning shot. The country is taking advantage of its booming gaming industry to drive advances in a field that will define the future of technology. This game not only exports Chinese culture but also strengthens its tech base by accelerating the demand for domestic semiconductors.

    While Black Myth: Wukong entertains millions, it also shows China’s growing influence in the digital realm. In the future, we might not look back at Black Myth: Wukong as just a successful video game, but as a catalyst that helped China close the technological gap with the West. Beijing is playing a long game, and video games like Black Myth: Wukong are turning out to be effective weapons.

    The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Black Myth: Wukong – how China’s gaming revolution is fueling its tech power – https://theconversation.com/black-myth-wukong-how-chinas-gaming-revolution-is-fueling-its-tech-power-239998

    MIL OSI – Global Reports –

  • MIL-OSI Global: What is Chabad-Lubavitch? A Jewish studies scholar explains

    Source: The Conversation – USA – By Schneur Zalman Newfield, Associate Professor of Sociology and Jewish Studies, Hunter College

    Lubavitchers have put up leaflets, posters and even murals of Rabbi Menachem Mendel Schneerson around the world, with many proclaiming him the messiah. Nizzan Cohen via Wikimedia Commons, CC BY-SA

    If you live anywhere near New York – or anywhere in the world, really – you may have seen a picture of Rabbi Menachem Mendel Schneerson. Yellow posters of the rabbi’s face are stuck to lampposts or streetlights: an elderly man with a long white beard and black hat.

    For tens of thousands of ultra-Orthodox Jews, Schneerson is simply “the rebbe”: the leader of the Chabad-Lubavitch movement, even though he died in 1994. The name “Chabad” is familiar to many Americans, but the actual beliefs of this Hasidic group rarely are.

    As someone who was raised in a Lubavitch community and became a scholar of sociology and Jewish studies, I am often asked what sets it apart from other Orthodox streams of Judaism.

    Mystic teachings, joyful prayer

    Hasidism began under the leadership of the 18th-century mystic and healer Israel ben Eliezer, known as the Baal Shem Tov. Instead of focusing on the Bible and Jewish law, the movement prioritized attaching oneself to God through joyful prayer and passionate devotion.

    The Lubavitch sect of Hasidism was founded in the late 1700s by Rabbi Schneur Zalman of Liadi, the author of the Tanya – a theological text and self-improvement manual still studied daily by Lubavitchers. For over a hundred years, the movement was based in the rural town of Lyubavichi, Russia, from which it derives its name.

    Lubavitch headquarters in Brooklyn, which many followers call ‘770.’
    Sagtkd/Wikimedia Commons

    Since 1940, however, Lubavitch has been based in Crown Heights, Brooklyn. The headquarters there at 770 Eastern Parkway are simply referred to as “770” by Lubavitchers the world over, who imbue the red brick building with mystical symbolism.

    Lubavitch, also known by the name “Chabad,” is one of the largest Hasidic groups today, with an estimated 90,000 members.

    Lubavitch shares many things in common with all streams of Orthodox Judaism, including a commitment to strictly abiding by “halacha” – Jewish law and customs. The group also shares a great deal with other ultra-Orthodox communities, such as opposition to providing their children with secular education.

    Yet there are key features of Lubavitch that distinguish it – particularly how much it engages with non-Orthodox Jews.

    The rebbe

    All Hasidic sects have a leader, a “rebbe,” who is believed to possess unique spiritual gifts and connect his followers to the divine. Still, Lubavitch is distinct in terms of the extent to which the rebbe is central to the lives of every single member of the community.

    In 1951, Schneerson accepted leadership of the Lubavitchers after the passing of his father-in-law and grew the movement exponentially until his passing in 1994. Rather than naming a successor, however, Lubavitchers have continued to regard Schneerson as “the rebbe.”

    With his piercing blue eyes, full white beard, black fedora and silk coat, images of Schneerson are ubiquitous among Lubavitchers. Photos and paintings of him adorn walls, key chains, clocks and charity boxes wherever they live.

    A baby clutches a photo of Rabbi Menachem Mendel Schneerson during a holiday celebration in front of the Chabad Lubavitch headquarters in Brooklyn.
    AP Photo/Mark Lennihan

    While the rebbe was alive, his followers would ask him for advice and blessings regarding all spiritual matters, as well as questions about health, business and marriage. Since his passing, followers continue to seek his blessings by placing notes at his gravesite and searching his printed works for guidance.

    Even among Lubavitchers who have left the fold, many still feel attached to its leader.

    Jewish outreach

    One expression of Lubavitchers’ devotion is their commitment to creating Jewish outreach centers all over the world.

    The ethos of sharing Hasidic thought was present from the founding of the Lubavitch movement. This drive became much more developed, however, during and after the Holocaust and continued under Schneerson’s leadership.

    Today, Lubavitch has established Jewish outposts, called “Chabad Houses,” from Melbourne to Hong Kong and Buenos Aires to Cape Town. These emissaries endeavor to reach out to secular Jews and inspire them to become more religiously observant.

    Members of Chabad participate in a Fourth of July parade in Santa Monica, Calif.
    AP Photo/Richard Vogel

    The language surrounding Lubavitch outreach often has a militaristic flavor – for example, its youth movement is named the “Army of God”: Tzivos Ha-Shem, in Hebrew. However, outreach is rooted in the commandment to love one’s fellow Jew and a desire to help them enjoy the Jewish tradition. It is also motivated by a belief that these efforts will help fulfill the biblical prophecy of a Jewish messiah, who will usher in a time of global peace.

    These two motivations fortify the nearly 5,000 emissaries sent to far-flung communities around the world, notwithstanding profound obstacles. These include being separated from their families, who tend to live in established Hasidic communities, and being vulnerable to antisemitic attacks.

    Messianism

    The most distinct aspect of contemporary Lubavitch is its enthusiasm for the coming of the messiah and its assertion that Schneerson is that long-awaited messiah, despite his death.

    Messianic hopes and people claiming to be the messiah have appeared at various points throughout Jewish history, often during periods of crisis. In the wake of the devastation of the Holocaust, however, Schneerson made the idea of the messiah’s coming integral to every aspect of Jewish life.

    Eventually, most followers came to believe that Schneerson was the righteous redeemer sent by God to usher in the messianic age. While Schneerson did not embrace these proclamations, he insisted that through additional acts of goodness and kindness it was possible to bring about the messianic redemption.

    While some outsiders criticized this emphasis, especially claims about the rebbe, the situation became much more fraught after he passed away in 1994. In response to this trauma, a split developed in Lubavitch.

    Praying men leave notes seeking guidance and blessings at the grave site of Menachem Mendel Schneerson.
    Bentzi Sasson via Wikimedia Commons, CC BY-SA

    One camp, composed largely of those involved in outreach work and members of long-standing Lubavitch families, argued Lubavitch should stop publicly talking about Schneerson being the messiah since it scared away outsiders. The other camp, largely composed of those who joined the community as adults, claimed that he was still the messiah and was about to return, and that it was vital to tell the world.

    To some other Jews, this belief seemed suspiciously close to Christian faith in the second coming of Jesus. Still, many Lubavitchers persist in their messianic beliefs.

    The future

    This issue still divides some Lubavitchers. Nonetheless, since Schneerson’s passing three decades ago, the movement has increased in size and strength.

    The group’s cohesiveness has been aided by creative uses of technology to foster a sense of the rebbe’s continued presence in their lives. For example, the Jewish Educational Media organization regularly produces videos that splice footage of his talks with current visuals to make him feel present in the moment. Lubavitchers have reinterpreted Hasidic texts to fit their current predicament, helping them feel grounded despite his physical absence.

    While the precise future of Lubavitch is unknown, the fact that it has managed to weather the storm of the rebbe’s passing and emerged stronger gives his followers hope for the future.

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

    – ref. What is Chabad-Lubavitch? A Jewish studies scholar explains – https://theconversation.com/what-is-chabad-lubavitch-a-jewish-studies-scholar-explains-222218

    MIL OSI – Global Reports –

  • MIL-Evening Report: Australia donates 49 Abrams tanks to Ukraine

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

    Defence Department Supplied Photo

    The Albanese government is giving 49 M1A1 Abrams tanks to Ukraine, despite earlier this year apparently playing down the prospect of the donation.

    The latest Australian package is worth A$245 million. It brings the total Australian military aid to Ukraine since the full-scale Russian invasion in 2022 to A$1.3 billion, and overall Australian support to A$1.5 billion.

    When asked about a possible gift of the tanks in February, Defence Minister Richard Marles said it was “not on the agenda”.

    Government sources say donating the tanks required US approval since Australia had purchased them from Washington, so there had been a process to go through.

    Minister for Defence Industry and Capability Delivery Pat Conroy, who is on his way to the NATO defence ministers meeting in Brussels, announced the decision in London. In Brussels, Conroy will meet with the Ukraine defence minister.

    Australia, New Zealand, Japan and South Korea form the “Indo-Pacific Four” group of non-NATO countries attending the meeting.

    The 49 tanks are near the end of their life, so a small number will have to be repaired before they are delivered. Alternatively, they could be used as spare parts if Ukraine wants them delivered more quickly. Ukraine will decide which option to pursue.

    The Australian army is retaining a handful of the M1A1 Abrams to help the transition to the M1A2 fleet of tanks.

    Conroy said: “We stand shoulder-to-shoulder with Ukraine in their fight against Russia’s illegal invasion. These tanks will deliver more firepower and mobility to the Ukrainian armed forces, and complement the support provided by our partners for Ukraine”.

    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. Australia donates 49 Abrams tanks to Ukraine – https://theconversation.com/australia-donates-49-abrams-tanks-to-ukraine-241485

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: iPower Completes First Purchase Order Shipment from Vietnam in September

    Source: GlobeNewswire (MIL-OSI)

    RANCHO CUCAMONGA, Calif., Oct. 16, 2024 (GLOBE NEWSWIRE) — iPower Inc. (Nasdaq: IPW) (“iPower” or the “Company”), a tech and data-driven ecommerce services provider and online retailer, today announced the successful shipment of its first purchase order (PO) from Vietnam in September. This marks a significant milestone in iPower’s ongoing strategy to diversify its supply chain and expand its global reach.

    Building on its previous engagements with manufacturers in Vietnam, iPower is now realizing the first tangible outcomes of this collaboration. The initial PO was shipped in September, with additional shipments scheduled for this month and continuing thereafter. By diversifying the Company’s supply chain with global partners, iPower ensures greater stability and efficiency while reducing reliance on specific regions.

    The expansion into Vietnam presents meaningful cost-saving opportunities for iPower. As products begin to arrive in the U.S. and commence sales, the Company anticipates benefiting from reduced production and logistics expenses. These lower costs will enable iPower to offer more competitive pricing while improving margins, an essential factor for long-term, sustainable growth.

    iPower remains dedicated to expanding and diversifying its supply chain to build a more resilient and efficient global network. Collaborating with Vietnamese manufacturers is a key component of a larger strategy to explore new sourcing opportunities across the globe. This initiative is aimed at bolstering iPower’s capabilities to meet growing consumer demand while reinforcing its competitive position in the marketplace.

    “The shipment of our first purchase order from Vietnam marks a critical milestone in our supply chain diversification strategy,” said Lawrence Tan, CEO of iPower. “By reducing costs and expanding our global reach, we are positioning iPower for greater efficiency and long-term stability. We look forward to continuing our efforts to diversify and strengthen our supply chain through future shipments and strategic partnerships.”

    About iPower Inc.

    iPower Inc. is a tech and data-driven online retailer, as well as a provider of value-added ecommerce services for third-party products and brands. iPower’s capabilities include a full spectrum of online channels, robust fulfillment capacity, a network of warehouses serving the U.S., competitive last mile delivery partners and a differentiated business intelligence platform. iPower believes that these capabilities will enable it to efficiently move a diverse catalog of SKUs from its supply chain partners to end consumers every day, providing the best value to customers in the U.S. and other countries. For more information, please visit iPower’s website at http://www.meetipower.com.

    Investor Relations Contact

    Sean Mansouri, CFA or Aaron D’Souza
    Elevate IR
    (720) 330-2829
    IPW@elevate-ir.com

    The MIL Network –

  • MIL-OSI: Rocket Software’s GenAI Advancements for Hybrid Cloud Revolutionize Mainframe and Cloud Integration

    Source: GlobeNewswire (MIL-OSI)

    WALTHAM, Mass., Oct. 16, 2024 (GLOBE NEWSWIRE) — Rocket Software, Inc. (“Rocket Software”), a global technology leader in modernization software, is advancing its mission of supporting enterprises at every stage of their modernization journey by expanding its Hybrid Cloud solutions to include cutting-edge generative AI (GenAI) functionality. These enhancements harness GenAI and automation to streamline the modernization of the business applications and data upon which businesses run. The goal of the new capabilities is to improve organizational agility and decision-making by unlocking the value of these applications and data, bridging them into hybrid cloud strategies.

    Global enterprises recognize AI’s role in enhancing efficiency and performance both in application modernization and in the broader scheme of enhancing organizational value. According to a 2024 Forrester survey commissioned by Rocket Software, 66% of respondents report that AI has significantly boosted efficiency in their IT modernization efforts, while 59% note improved technological capabilities for both employees and customers.

    “A number of industries are facing increasing pressure to prioritize decision-making for operational performance and risk management,” said Michael Curry, President of Data Modernization at Rocket Software. “The new and enhanced products in our Hybrid Cloud solution suite accelerate application understanding, streamline data integration, and enhance productivity. With over 34 years of experience, we have a unique vantage point from which we can help organizations unlock value from core business applications, while future-proofing operations.”

    Rocket Software continues to enhance its Hybrid Cloud solutions, enabling customers to take advantage of scalable, cost-efficient GenAI and automation in a safe way, that prioritizes robust security and regulatory compliance. This reflects the company’s commitment to delivering customer value through innovation, evidenced by the introduction of new and upgraded products, including:

    • Rocket® Content Smart Chat: Provides a secure conversational AI interface for sensitive document access and querying, streamlining unstructured data classification, while ensuring regulatory compliance by keeping critical data in protected governance environments. Rocket Software was recognized as a Major Player in the 2024 IDC MarketScape for Intelligent Content Services, in part for its SmartChat Feature, underscoring its innovation in delivering intelligent, scalable, and AI-driven content services.
    • Rocket®Enterprise Suite: Provides an AI natural language assistant to facilitate code analysis and accelerate mainframe application modernization and cloud transitions, enhancing developer productivity by simplifying complex code and the migration to cloud-native environments. Enterprise Suite is a key capability in modernization solutions from major Cloud Service Providers (CSPs) like Amazon Web Services® (AWS®), Google® Cloud Platform (GCP), and Microsoft ®Azure®.
    • Rocket®Visual COBOL®: Employs an AI natural language assistant to simplify COBOL code understanding, modernize applications, and ensure seamless integration with hybrid cloud environments. This reduces the learning curve for developers, accelerating the modernization of distributed COBOL applications and integrating seamlessly with hybrid cloud infrastructures while preserving core business logic.

    “Following the acquisition of AMC, Rocket Software is releasing new functionality in less than six months—an uncommon move in the industry where many mature software companies tend to slow down evolution after an acquisition,” said Peter Rutten, Research Vice-President, Performance Intensive Computing, IDC, “This rapid progression highlights Rocket’s commitment to enhancing support for mainframe and distributed COBOL application modernization and re-platforming in alignment with hybrid cloud and migration strategies.”

    These new additions will join the company’s existing Hybrid Cloud solutions including Rocket® Data Intelligence, Rocket® Data Replicate and Sync, Rocket® Mobius®, Rocket® Cloud Connector, and Rocket® Data Virtualization, to round out the suite and further enhance end-to-end modernization and real-time data management.

    To learn more about these GenAI advancements and Rocket Software’s complete Hybrid Cloud solutions, visit its website here.

    Amazon Web Services and AWS are trademarks of Amazon Technologies, Inc.
    Google is a trademark of Google LLC
    Microsoft and Azure are trademarks of Microsoft Corporation

    About Rocket Software
    Rocket Software is a global technology leader in modernization and a partner of choice that empowers the world’s leading businesses on their modernization journeys, spanning core systems to the cloud. Trusted by over 12,500 customers and 750 partners, and with more than 3,000 global employees, Rocket Software enables customers to maximize their data, applications, and infrastructure to deliver critical services that power our modern world. Rocket Software is a privately held U.S. corporation headquartered in the Boston area with centers of excellence strategically located throughout North America, Europe, Asia and Australia. Rocket Software is a portfolio company of Bain Capital Private Equity. Follow Rocket Software on LinkedIn and Twitter or visit http://www.RocketSoftware.com.

    Media Contact
    Lacey Darrow
    ldarrow@rocketsoftware.com

    The MIL Network –

  • MIL-OSI: DigiAsia Corp. and Digit9 Announce Strategic Collaboration

    Source: GlobeNewswire (MIL-OSI)

    ~ Enhancing Cross Border Payments ~

    ABU DHABI, United Arab Emirates and NEW YORK, Oct. 16, 2024 (GLOBE NEWSWIRE) — DigiAsia Corp. (NASDAQ: FAAS) (“DigiAsia” or the “Company”), a leading Fintech as a Service (FaaS) ecosystem provider, has announced a strategic collaboration with Digit9, the cross-border payments orchestration platform developed by LuLu Money Singapore, a wholly owned subsidiary of Abu Dhabi-based LuLu Financial Holdings.

    The partnership with Digit9 will enhance DigiAsia’s offering and competitiveness in servicing the cross-border payments needs for Indonesian consumers and SMEs in Indonesia and the GCC.

    Further, DigiAsia will be able to leverage Digit9’s wide network of partners and the ability to facilitate cross-border payments in more than 150 markets globally, to create efficient and cost-effective cross-border payment rails to further support Indonesian consumers and SMEs.

    DigiAsia estimates that the partnership with Digit9 will generate an estimated US$250mn volume annually in cross-border payments.

    DigiAsia and Digit9 will continue strategic partnership discussions and look to launch innovative products and services in the cross-border payments space in the near future.

    About DigiAsia

    DigiAsia is a leading Fintech as a Service (FaaS) provider operating a B2B2X model offering its complete Fintech solution in emerging markets. DigiAsia’s fintech architecture offers small and medium business enterprises (SMEs) comprehensive embedded finance APIs to streamline processes across the commerce value chain of distributors and customers. DigiAsia’s embedded fintech solutions equally address democratizing digital finance access that supports financial inclusion of underbanked merchants and consumers in emerging markets resulting in growth for enterprise business. The suite of B2B2X solutions provided by DigiAsia include, but are not limited to, cashless payments, digital wallets, digital banking, remittances and banking licenses. DigiAsia has recently established a strategic initiative to develop its embedded FaaS enterprise solution with AI capabilities in Southeast Asia, India, and the Middle East, with plans for global expansion. For more information, please visit DigiAsia’s Corporate website here or Investor Relations website here.

    About Digit9

    Digit9 is a payments orchestration platform tailored to meet the diverse needs of financial institutions. It seamlessly integrates an array of payment methods, banks, and service providers, simplifying the complexities of cross-border payments. Digit9 has been developed by LuLu Money Singapore, a wholly owned subsidiary of LuLu Financial Holdings.

    About LuLu Financial Holdings

    LuLu Financial Holdings is a leading global financial services provider, offering a wide range of services including cross-border payments, currency exchange, and financial technology solutions. With over 350 customer engagement centers in over 10 countries and a commitment to innovation and customer satisfaction, LuLu Financial Holdings continues to set benchmarks in the financial services industry.

    Forward-Looking Statements:

    This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements including, but not limited to, statements concerning DigiAsia and the Company’s operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. DigiAsia cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world including those discussed in DigiAsia’s Form 20-F under the headings “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business Overview” and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date it is made and DigiAsia specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.

    DigiAsia Company Contact:
    Subir Lohani
    Chief Financial Officer and Chief Strategy Officer
    646-480-0142

    Lulu Financial Holdings Company Contact:
    Ajit Johnson
    Head of Strategic Business Relations
    ajit.johnson@lulufin.com

    Investor Contact:
    MZ North America
    Email: FAAS@mzgroup.us

    The MIL Network –

  • MIL-OSI Asia-Pac: University Grants Committee welcomes “The Chief Executive’s 2024 Policy Address”

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the University Grants Committee:
     
         The Chairman of the University Grants Committee (UGC), Mr Tim Lui, said today (October 16) that he welcomed the Chief Executive’s announcement of several relevant measures in the 2024 Policy Address, which aim at nurturing future talent and establishing the “Study in Hong Kong” brand. The UGC will join hands with the eight UGC-funded universities to optimise Hong Kong’s competitive advantages under “One Country, Two Systems”, as well as the highly internationalised and diversified characters of the higher education landscape, thereby pressing ahead with the development of Hong Kong into an international hub for post-secondary education and high-calibre talent.
     
         The Government announced in this year’s Policy Address that it will establish the Hong Kong Future Talents Scholarship Scheme for Advanced Studies (SSAS) starting from the 2025/26 academic year, under which up to 1 200 local students enrolling in designated taught postgraduate programmes will receive a scholarship each year.
     
         Mr Lui said, “Over the past five years, the UGC has implemented the Targeted Taught Postgraduate Programmes Fellowships Scheme on a pilot basis, which incentivised local students with aspirations for advanced studies to pursue over 100 master’s programmes within our priority areas. They have fuelled Hong Kong’s impetus for development as they equip themselves for the future. We welcome the establishment of the SSAS by the Government with reference to the experience and achievements of the pilot scheme. This clearly demonstrates the Government’s commitment towards the nurturing of high-calibre local talent and the development of new quality productive forces.”
     
         The Policy Address also announced that Hong Kong will strive to host international education conferences and exhibitions, as well as encourage local post-secondary institutions to enhance collaboration and exchanges with their counterparts around the world in promoting the “Study in Hong Kong” brand on a global scale. In this regard, the UGC will further strengthen collaboration with the Heads of Universities Committee’s Standing Committee on Internationalisation to actively enhance external promotion efforts targeting the Association of Southeast Asian Nations and other Belt and Road countries, and strive to foster closer partnerships with institutions worldwide in student mobility and research collaboration. The UGC also welcomed the Government’s introduction of a series of new measures to improve hostel facilities, including a pilot scheme to encourage the market to convert hotels and other commercial buildings into student hostels on a self-financing and privately funded basis. This will increase the supply of student hostels and facilitate the recruitment of more non-local students to pursue their studies in Hong Kong.
     
         In terms of research promotion, the UGC extended its gratitude to the Government for providing $1.5 billion to launch a new round of the Research Matching Grant Scheme (RMGS), which will incentivise more organisations to fund research activities by institutions. The inaugural round of the RMGS was concluded with resounding success in July 2024, which effectively expanded research funding sources of the higher education sector. The UGC also welcomed the introduction of a series of measures to facilitate close collaboration among the Government, industry, academic, research and investment sectors. Mr Lui is confident that the new round of the RMGS as well as various measures will deepen the collaboration between higher education and other sectors, thereby raising Hong Kong’s research capabilities as well as enhancing the local ecosystem for innovation and technology.
     
         Mr Lui continued, “Looking ahead, our higher education sector can tap into the immense opportunities presented by the Northern Metropolis University Town to leverage our distinctive advantage of having strong support from the motherland and close connection with the world, thereby enabling Hong Kong to scale new heights. Together with our UGC-funded universities, we will devote ourselves relentlessly to cultivating local talent, attracting elites from all over the world and reinforcing our global reputation, so as to contribute positively to Hong Kong’s development into an international hub for post-secondary education.”

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Samsung Expands Its Galaxy Wearables Ecosystem in India to Bring Premium Healthcare Experience with Galaxy Ring Starting INR 38999

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand, today announced the launch of its highly anticipated Galaxy Ring in India. Providing a sleek, stylish and compact form factor, this latest addition to the wearable’s portfolio is central to Samsung’s vision for Galaxy AI to enhance digital health, delivering personalized insights and tailored health experiences to customers.
     
    The launch of Galaxy Ring marks a new step in active and autonomous health management, moving beyond mere monitoring to offer users valuable guidance for healthier lifestyles. Galaxy Ring features advanced sensors that provide insights to help users understand their lifestyle patterns, helping them to manage their health goals.
     
    Designed for 24/7 health monitoring, Galaxy Ring offers a simple approach to everyday wellness. Blending timeless style with revolutionary functionality, it will be available in 9 different sizes, ranging from Size 5 to Size 13. Weighing just 2.3 grams for Size 5 with a width of just 7.0 mm, Galaxy Ring is ultra-lightweight, making it ideal for all-day wear. The weight of Galaxy Ring varies with size, going up to 3 grams for the biggest size (Size 13). Its distinct concave design adds a touch of elegance while maintaining durability. Despite its size, the device offers up to 7 days of battery life encased in a specially designed charging case that features aesthetic LED lighting to indicate charging status. The charging case comes with a clamshell design reminiscent of a jewellery box.
     
    Engineered with premium materials, including a titanium finish for enhanced durability, Galaxy Ring is IP68 water- and dust-resistant and can withstand depths of up to 100 meters with its 10ATM rating. This makes Galaxy Ring a sophisticated yet rugged accessory, perfect for all use cases.
     
    “The launch of Galaxy Ring marks a massive leap in Samsung’s commitment to democratize cutting-edge technology for everyone, helping users turn data in to meaningful insights and create a whole new era of expanded, intelligent health experiences. Galaxy Ring is not just another wearable, it’s a revolutionary health-tech device that blends innovation with accessibility. With advanced AI-driven insights, 24/7 health monitoring and a sleek, lightweight design, it empowers users to seamlessly track their wellness anytime, anywhere. With Galaxy Ring, we’re paving the way for a healthier, more connected future for all,” said Aditya Babbar, Vice President, MX Business, Samsung India.
     
    Powered by Samsung’s proprietary “Health AI”, Galaxy Ring delivers real-time insights intuitively, so users can simply wear it and let the AI-driven insights work in the background, providing personalized recommendations and wellness tips. All data and insights are integrated into Samsung Health for seamless access within one cohesive platform without a subscription.
     
    Starting with sleep, Galaxy Ring features Samsung’s best-in-class sleep analysis and a powerful sleep AI algorithm. Along with Sleep Score and snoring analysis, new sleep metrics such as movement during sleep, sleep latency, heart and respiratory rate provide a detailed and accurate analysis of sleep quality.
     
    Additionally, Galaxy AI generates a detailed health report that includes health metrics like Energy Score to enhance consumer’s awareness of the ways their health influences your daily life. This score is calculated by evaluating physical and mental capacity across four significant factors: Sleep, Activity, Sleeping Heart Rate and Sleeping Heart Rate Variability. In addition, the Wellness Tips feature is driven by comprehensive data and provides personalized insights according to user’s goals. Galaxy Ring also supports everyday wellness monitoring, allowing users to stay informed about heart health with HR monitoring providing alerts for high/low heart rates. Galaxy Ring is able to auto-detect workouts (walking & running) as well as provides inactive alerts to users keeping them motivated to achieve their goals. Furthermore, Galaxy Smartphone consumers can activate simple Gesture controls (like double pinch) on Galaxy Ring to easily take photos or dismiss alarms.  Furthermore, Galaxy Ring works seamlessly when worn simultaneously with Samsung Galaxy Watch providing enhanced accuracy of health and wellness tracking and improved battery life (up to 30%)
     
    Design, Availability and Pricing
    Galaxy Ring starts at INR 38999 and will be available on Samsung.com, select retail stores, Amazon.in and Flipkart.com.
     
    Empowering consumers to stay true to their personal style with three colour choices — Titanium Black, Titanium Silver and Titanium Gold, Galaxy Ring is poised to fit comfortably on users’ fingers like a traditional ring. Customers who are unsure about their ring size have the option to first get a sizing kit to verify the best fit before purchasing Galaxy Ring.
     
    Customers can also purchase the Galaxy Ring starting at just INR 1,625 per month with 24 months No Cost EMI across leading bank cards as well as financing through Samsung Finance+ and Bajaj Finance. In addition, Samsung is also offering a 25W Travel adapter to customers who purchase Galaxy Ring until 18th October, 2024.

    MIL OSI Economics –

  • MIL-OSI: Suspected Digital Fraud Coming from Canada Up Nearly 11% Since H1 2023, Reveals New TransUnion Analysis

    Source: GlobeNewswire (MIL-OSI)

    In H1 2024, 5.7% of all attempted digital transactions originating from Canada were suspected to be Digital Fraud; more than half (54%) of Canadians said they were recently targeted by fraud attempts.

    Canadian business leaders said their companies lost approximately 6% of their equivalent revenue – representing $78 billion – over the past year due to fraud.

    TORONTO, Oct. 16, 2024 (GLOBE NEWSWIRE) — In the first half (H1) of 2024, Canada saw a significant increase in suspected Digital Fraud attempts, with nearly 5.74% of all attempted digital transactions where the consumer was located in Canada involving suspected Digital Fraud, revealed a new TransUnion® (NYSE: TRU) analysis. This is nearly an 11% year-over-year (YoY) rate increase from H1 2023, and TransUnion also documented an 11% increase in the volume of suspected Digital Fraud from Canada during this period, despite a less than a one percent (0.7%) YoY increase in the volume of transactions.

    According to a recent TransUnion survey,1 more than half (54%) of Canadians said they were recently targeted by email, phone call or text message fraud attempts. Phishing was the most common scheme type (45%), followed by smishing (42%) and vishing (39%).

    The increasing use of digital transactions, combined with rising suspected Digital Fraud attempts are also impacting businesses as they potentially face revenue losses and increased operational costs due to fraud. According to a TransUnion business survey for the H2 2024 Update to the State of Omnichannel Fraud report, 200 Canadian business leaders said their companies lost approximately 6% of equivalent revenue – representing $78 billion – over the past year due to fraud. The most prominent causes of fraud loss cited by them were:

    • Scam/Authorized fraud (31%): Dishonest scheme intended to trick a person into giving up something of value (e.g., account access, money, information)
    • Account takeover (19%): Unauthorized individuals taking over someone’s online account (e.g., bank, social media, email) without their permission
    • Synthetic identity fraud (18%): Use of a combination of personal information to fabricate a person or entity to commit a dishonest act for financial or personal gain

    TransUnion also found that suspected Digital Fraud attempts – where the consumer was transacting in Canada and targeted businesses globally – increased on average by 10.5% YoY in H1 2024 compared to H1 2023 and impacted all industries.

    Top Three Industries Globally with Highest Rate of Suspected Digital Fraud Attempts Coming from Canada in H1 2024

    1. Gambling (online sports betting, poker, etc.) – 9.6%
    2. Retail – 9.2%
    3. Government – 7.7%

    Top Three Industries Globally with Highest YoY Increase (H1 2024 vs H1 2023) in the Rate of Suspected Digital Fraud Attempts Coming from Canada

    1. Logistics – 172.9%
    2. Gambling – 79.3%
    3. Video gaming – 67.8%

    “Protecting customers and their businesses from fraud is essential to enabling safe and tailored consumer experiences. These findings reveal that despite the good-faith efforts that are being undertaken by companies to identify and prevent fraud to date, fraudsters continue to evolve and it’s vital that fraud prevention methods keep up with the changing times,” said Patrick Boudreau, head of identity management and fraud solutions at TransUnion Canada.

    “Businesses that aren’t already doing so should ensure that they are taking advantage of fraud prevention technologies such as identity verification, IP intelligence, device reputation and synthetic identity detection as critical components of their fraud prevention programs,” he added.

    For more insights, read the H2 2024 Update to the State of Omnichannel Fraud report.

    About the Analysis
    TransUnion came to its conclusions about Digital Fraud based on intelligence from its identity and fraud product suite that helps secure trust across channels and delivers efficient consumer experiences – TransUnion TruValidate® The rate or percentage of suspected Digital Fraud attempts reflect those that TransUnion customers determined met one of the following conditions: 1) denial in real time due to fraudulent indicators, 2) denial in real time for corporate policy violations, 3) determined to be fraudulent upon customer investigation, or 4) determined to be a corporate policy violation upon customer investigation —compared to all transactions it assessed for fraud. 

    Specific country and regional data in the report include the United States, Botswana, Brazil, Canada, Chile, Colombia, the Dominican Republic, Hong Kong, India, Kenya, Mexico, Namibia, the Philippines, Puerto Rico, Rwanda, South Africa, Spain, the United Kingdom and Zambia.

    Consumers who believe they may be a victim of fraud can find resources and information here.

    About TransUnion®(NYSE: TRU)
    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries, including Canada, where we’re the credit bureau of choice for the financial services ecosystem and most of Canada’s largest banks. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this by providing an actionable view of consumers, stewarded with care.

    Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.
    For more information visit: http://www.transunion.ca

    ____________________
    1 TransUnion Q3 2024 Consumer Pulse survey of 1,000 consumers – conducted between July 16–23, 2024.

    The MIL Network –

  • MIL-OSI Asia-Pac: Youth Development Commission welcomes initiatives on youth development announced in “The Chief Executive’s 2024 Policy Address”

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Youth Development Commission:
     
         The Youth Development Commission (YDC) warmly welcomed the policy initiatives on supporting youth development in “The Chief Executive’s 2024 Policy Address” delivered by the Chief Executive, Mr John Lee, today (October 16). 
               
         The Vice-Chairman of the YDC, Mr Kenneth Leung, said, “I strongly endorse the expansion of the Youth Hostel Scheme in the past two years mentioned in the Policy Address, which responds to our young people’s aspiration to have their own living space. I also support the setting up of different youth facilities at the Kai Tak Community Isolation Facility, the Nam Cheong District Community Centre and Youth Square to provide more physical spaces for young people to engage in mutual exchange and develop individual potential. These initiatives demonstrate the Government’s determination to support youth development in the long term. I am also pleased to note that the Policy Address has put forward measures of various areas that could benefit young people, in particular helping young people to overcome hurdles in education, employment, entrepreneurship and home ownership, and also assist them to realise their life planning and seize national development opportunities.”
          
         He expressed appreciation of the Government’s acceptance of suggestions raised by members of the YDC, and said that the YDC would continue to work proactively and closely with the Government and different sectors of society to follow up on the implementation of relevant policy initiatives in the Policy Address and the Youth Development Blueprint to promote youth development on all fronts.
               
         Chaired by the Chief Secretary for Administration, Mr Chan Kwok-ki, the YDC strives to enhance policy co-ordination within the Government for promoting youth development and enable a more holistic and effective examination of and discussion on issues of concern to young people. Since its establishment, the YDC has implemented a wide spectrum of programmes to promote youth exchanges, internship, entrepreneurship, life planning, positive thinking and more. It has also actively supported the Government in formulating and implementing the Youth Development Blueprint to promote the all-round development of young people and nurture a new generation of young people with an affection for the country and Hong Kong, and are equipped with a global perspective, an aspiring mindset and positive thinking.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: New measures tackle housing issues

    Source: Hong Kong Information Services

    Chief Executive John Lee said the Government would strive to “improve livelihoods in pursuit of happiness” as he announced in today’s 2024 Policy Address that the Monetary Authority (HKMA) will adjust the maximum loan-to-value ratio for all properties to 70% and that a new system will be devised to raise standards in subdivided units (SDUs).

    Mr Lee also gave an update on efforts to increase the supply of public housing, and said steps will be taken to widen access to the housing ladder, combat public rental housing tenancy abuse, and create land to build more housing.

    The Chief Executive said that taking into account the current economic and financial environment, the HKMA will adjust the maximum loan-to-value ratio for residential and non-residential properties to 70%, regardless of the value of the properties, whether the properties are for self-use or held by companies, and whether the purchasers are first-time home buyers. The maximum debt servicing ratio for properties will be adjusted to 50%.

    Acknowledging that “housing is an issue of great public concern”, Mr Lee said public housing supply in the coming five years to 2030 will reach 189,000 units, about 80% higher than in the five years to 2027. He added that in the past two years, the average waiting time for public rental housing dropped by half a year, from a peak of 6.1 years to the current 5.5 years, and is expected to fall to 4.5 years in 2026-27.

    On the issue of SDUs in residential buildings, Mr Lee said that the Government has decided to put in place, through legislation, a new system with regard to their rental. SDUs that meet required standards will be categorised as Basic Housing Units (BHUs), and owners of substandard SDUs that are upgraded to meet these standards can apply for BHU recognition. However, following a grace period, owners who continue to rent out substandard SDUs will be held criminally liable.

    The Government will set up a system allowing owners of pre-existing SDUs under rental to register for the grace period. The Government will allow time for those registered owners to carry out the necessary conversion works. New SDUs entering the market must be recognised as up-to-standard BHUs before they can be rented out.

    The Secretary for Housing will be empowered by law to decide, upon expiry of the grace period, when to take enforcement actions against substandard SDUs by batches in an orderly manner in light of actual circumstances.

    The Government proposes that the standards of BHUs should include the provision of windows, an individual toilet and a floor area of no less than 8 sq m. The Deputy Financial Secretary and the Secretary for Housing will announce the details and seek the views of LegCo and stakeholders for drawing up the legislative proposals and related measures, such as the timetable for registration.

    Addressing the public aspiration for home ownership, Mr Lee said the Housing Authority (HKHA) is aiming to gradually adjust the ratio between public rental housing (PRH) units and subsidised sale flats (SSFs) from the current 7:3 to 6:4. Meanwhile, the ratio between Green Form and White Form in respect of Home Ownership Scheme (HOS) flats will be revised from 4:6 to 5:5 to encourage more PRH tenants to buy HOS flats. The HKHA will tighten up its Well-off Tenants Policies by raising the additional rent limit and lowering the income limit for well-off tenants, so that public resources are appropriately allocated to applicants in need.

    With regard to PRH tenancy abuse, the HKHA will launch the “Cherish Public Housing Resources Award Scheme” in January next year to offer rewards to persons who provide concrete intelligence that leads to identification of tenancy abuse.

    Mr Lee also outlined plans to create more land for housing. He said that in order to streamline land development procedures and cut red tape, the Government has promulgated an internal circular stating that all approving departments should take a facilitating role.

    He added that the Government will outsource drone inspections of external walls of buildings and unauthorised building works to enhance speed and efficiency. The purview of the Development Bureau’s Development Projects Facilitation Office will be expanded to facilitate co‑ordination with departments in expediting the approval of land use and related matters in the Northern Metropolis.

    Mr Lee gave an update on the Kau Yi Chau Artificial Islands project, reporting that the statutory environmental impact assessment process for the reclamation works will commence by the end of this year. Completion of the relevant approvals is targeted for next year.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Cathay Cargo Leveraged Descartes Air Cargo Tracking Solution to Help Support Safe Journey of Giant Pandas

    Source: GlobeNewswire (MIL-OSI)

    MELBOURNE, Australia and ATLANTA, Oct. 16, 2024 (GLOBE NEWSWIRE) — Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, announced that Cathay Cargo, a global provider of air freight services, leveraged Descartes’ Bluetooth® Low Energy air cargo tracking solution for real-time condition and location monitoring of Giant Pandas An An and Ke Ke as they were safely transported from Chengdu, China to Hong Kong. The pandas arrived at Hong Kong’s international airport on September 26, 2024.

    “We’re excited that our technology played a role in the safe arrival of such a special shipment from Chengdu to Hong Kong,” said Frank Hung, VP Sales and Marketing at Descartes. “With our advanced IoT-based tracking capabilities, our customers are not only able to monitor the location of their shipments in real-time, but also shipment conditions such as temperature, light, vibration and humidity—which takes on an even more important dimension for Cathay Cargo in this unique situation.”

    Cathay Cargo has used the Descartes solution as part of its Ultra Track cargo tracking service since 2021. The solution helps the air cargo carrier provide customers with real-time shipment location and condition status for airport-to-airport moves of high value goods such as electronics, perishables and pharmaceuticals. The Ultra Track service is available in 29 airports across Cathay Cargo’s network.

    The Descartes air cargo tracking solution is designed to help airlines and ground handling agents (GHA) provide forwarding and shipper customers with end-to-end shipment visibility. Descartes Bluetooth® Low Energy powered tags placed on Unit Load Devices (ULD) or pallets provide location and condition status data that is captured by Descartes Bluetooth® Low Energy readers. Readers are part of the Descartes global Internet of Things (IoT) network and a Descartes Global Logistics Network™ service. Shipment status can be tracked whether goods are in the air or on the ground to help the air cargo community automate the end-to-end tracking of freight location and shipment status information such as precise temperature, movement, shock, light and humidity.

    “We’re pleased to have supported Cathay Cargo in this extraordinary endeavor,” said Scott Sangster, General Manager, Logistics Service Providers at Descartes. “Customers with temperature-controlled, time-sensitive and other specialized cargo expect to be kept informed of the location, condition, and chain of custody of their air shipment throughout its journey. By building out our IoT network in more geographies, deploying active readers across more locations and expanding the reach of the network, we’re helping the air cargo industry meet requirements for real-time, multi-dimensional cargo visibility and facilitate more secure, efficient, and responsive logistics operations.”

    About Cathay Cargo

    Cathay Cargo is the air-freight business division of the Cathay Group and one of the leading air-cargo operators in the world, operating from its hub in Hong Kong. Cathay Cargo provides services to more than 90+ cargo destinations around the world, operating a dedicated freighter fleet of 14 Boeing 747-8F and six 747-400ERFs (Extended Range Freighter) aircraft, in addition to cargo space on Cathay Pacific’s large fleet of passenger aircraft. The Cargo division also includes Air Hong Kong, an express cargo carrier operating in partnership with DHL, and manages Cathay Cargo Terminal at Hong Kong International Airport. It is also the cargo general sales agent for the Cathay Group’s low-cost carrier HK Express. Cathay is a member of the Swire Group and is listed on the Hong Kong Stock Exchange (HKSE). For more information, please visit http://www.cathaycargo.com.

    About Descartes

    Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at http://www.descartes.com, and connect with us on LinkedIn and Twitter.

    Global Media Contact
    Cara Strohack                                                                     
    Tel: +1(800) 419-8495 ext. 202025                                 
    cstrohack@descartes.com  

    Cautionary Statement Regarding Forward-Looking Statements

    This release contains forward-looking information within the meaning of applicable securities laws (“forward-looking statements”) that relate to Descartes’ air cargo solution offerings and potential benefits derived therefrom; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, “Certain Factors That May Affect Future Results” in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes’ most recently filed management’s discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

    The MIL Network –

  • MIL-OSI Asia-Pac: Department of School Education & Literacy Convenes National Advisory Council Meeting

    Source: Government of India

    Department of School Education & Literacy Convenes National Advisory Council Meeting

    Shri Dharmendra Pradhan reaffirms commitment to strengthening the implementation of the RTE Act in Line with National Education Policy 2020

    Posted On: 15 OCT 2024 9:30PM by PIB Delhi

    Union Minister for Education, Shri Dharmendra Pradhan chaired the National Advisory Council meeting, focusing on strengthening the implementation of the Right to Education (RTE) Act, which primarily emphasises access to school education. The National Education Policy 2020 highlights the revision and revamping of the education structure, including its regulation and governance, to create a new system that is aligned with the aspirational goals of 21st century education by providing holistic, inclusive and multidisciplinary growth in school curriculum.

    In his keynote address, Shri Dharmendra Pradhan emphasised the Government of India’s dedication to guaranteeing universal access to quality education and reaffirmed the commitment to strengthening of school education in the country guided by the Implementation of the RTE Act,2009 and the holistic and  transformative provisions of  National Education Policy 2020. He focused on developing a thorough plan to integrate innovative teaching methods and significantly enhance learning outcomes to strengthen the educational framework in the forthcoming years. He stressed on providing a special focus on Early Childhood Care and Education (ECCE) that ensures the cognitive development of children according to the NEP 2020. Additionally, the Minister highlighted the need to formulate a comprehensive strategy for effective pedagogy and teaching methodology, with a strong emphasis on ensuring quality education, accessibility, affordability, equity and inclusivity in the implementation of educational interventions.

    Shri Sanjay Kumar, Secretary (DoSEL), addressed the transformative journey of the education policies and the commitment to achieve the vision of Viksit Bharat through the National Education Policy, 2020. He urged the council members to examine the advancements in the education sector and provide their insightful feedback to the participants.

    Shri Vipin Kumar, Additional Secretary (DoSEL), highlighted the current state of the government’s initiatives under the RTE Act of 2009, particularly the provision of free textbooks, uniforms, the Mid-Day Meal Scheme and many other interventions related to it.

    Aligned with the vision of the National Education Policy (NEP) 2020, these initiatives form the core of the Samagra Shiksha scheme, which is dedicated to enhancing the quality of education and promoting equity and inclusivity. By integrating these components, Samagra Shiksha promotes holistic development and improves learning outcomes, ensuring that every child has the necessary interventions for a seamless transition from elementary to secondary education. It was also mentioned during the discussion that while RTE Act 2009 talks about the elementary education upto class 1 to class 8 but NEP-2020 takes care of the holistic developmental needs of 15 years of school education.

    The National Advisory Committee members shared their valuable insights to create a more cohesive and equitable education system. The committee members highlighted the need to strengthen the school ecosystem, teacher education and socio-economically disadvantaged groups, as underscored in the NEP 2020. The meeting was attended by distinguished dignitaries and senior officials from the Department of School Education and Literacy and autonomous bodies of the Department.

    Additionally, Director, NCERT mentioned that 79 Primers have been developed in scheduled languages of the respective State/ UTs. These Primers are in accordance with NEP 2020, which fosters education in child’s native language to facilitate their overall development. This meeting marks a crucial step towards further strengthening the education system in India, ensuring that every child receives their right to free and compulsory education and reinforcing the principles of equity and inclusivity in education.

                                                                           

    *****

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    MIL OSI Asia Pacific News –