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Category: Asia

  • MIL-OSI Asia-Pac: Hong Kong Observatory Open Day “Working Together for a Better Climate” to be held

    Source: Hong Kong Government special administrative region

         The Hong Kong Observatory (HKO) will hold the HKO Open Day on November 30 and December 1 (Saturday and Sunday), with the theme “Working Together for a Better Climate”.

         This year marks the 75th anniversary of the founding of the People’s Republic of China. The Open Day activities will not only showcase the various services of the HKO and enhance public understanding and awareness of climate change and extreme weather, but they will also provide a brief overview of the long-standing collaboration between the HKO and meteorological authorities in Mainland China and around the world over the years.

         Online pre-registration is required for the Open Day activities. Each applicant may request a maximum of four tickets free of charge. If there is an oversubscription, selection will be made by computer balloting. The online registration system will accept applications from today (October 17) to noon on November 1. Successful applicants will receive tickets with a QR code by email on or before November 16.

         Open Day details:

    Venue: Hong Kong Observatory Headquarters (134A Nathan Road, Kowloon)
    Date: November 30 and December 1 (Saturday and Sunday)
    Time: 9.30am to 5pm
    Remarks: The duration of each session is around one hour

         For more information on the Open Day activities, please visit the HKO website: http://www.hkoopenday.gov.hk/en/registration.
     

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Emerging market buyers embrace Canton Fair

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

    Buyers from emerging markets are steadily taking the lead at the 136th session of the China Import and Export Fair, or the Canton Fair, replacing those from Europe and North America as the primary participants, according to the Ministry of Commerce.

    The global trade event, held twice a year in Spring and Autumn, is being held from Tuesday through Nov 4, in Guangzhou, South China’s Guangdong province.

    A total of 125,000 overseas buyers had registered for the 136th session of the fair by Oct 9. Among them, about 76 percent are from countries and regions involved in the Belt and Road Initiative, while 12.5 percent are from North America and Europe, said the Ministry of Commerce.

    The driving forces behind this trend include the diversification of China’s export markets, rising business and consumer demand in emerging markets and shifting global trade dynamics, as economies in Southeast Asia, North Africa and South America become increasingly integral to global supply chains.

    “These economies often show strong demand for the industrial products and consumer goods available at the Canton Fair,” said Chu Shijia, director of the Guangzhou-based China Foreign Trade Center under the Ministry of Commerce, one of the Canton Fair organizers.

    As China is in the midst of a green transformation, its traditional exports — like household appliances and industrial equipment — are also making room for a fresh wave of technologically advanced and eco-friendly products, further meeting the needs of buyers from both developed and developing markets, said Han Yonghui, a professor specializing in foreign trade at Guangzhoubased Guangdong University of Foreign Studies.

    Emerging markets represented by Southeast Asia, the Middle East and Latin America, with their vast market potential and promising development prospects, are attracting a growing number of Chinese enterprises seeking business opportunities, according to a report jointly released by Deloitte and WorldFirst, an international payment services provider.

    As the internationalization of Chinese manufacturers and traders reaches a more mature stage, an increasing number of enterprises are embarking on a deeper level of internationalization — transitioning from product exports to establishing operations overseas — according to the report released on Monday in Guangzhou.

    This involves contract fulfillment supported by the integration of “local entities, local operations and local supply chains”. For instance, according to data from WorldFirst, the number of Chinese merchants using the payment platform to expand their overseas operations in the first quarter surged 56 percent year-on-year.

    Between 2018 and 2023, China maintained high growth rates of exports to its major trading partners in the Association of Southeast Asian Nations, the Middle East and Latin America, with compound annual growth rates generally exceeding 10 percent, according to the report.

    “Over years of development, we have seen an increased number of trade partners from emerging markets,” said Li Zhaoying, CEO of ChillSun Technology Co.

    The company, based in Huizhou, Guangdong, is attending the Canton Fair. “In addition to maintaining sustainable growth in developed markets, we are making efforts to reach more trade deals with buyers from emerging markets, especially those from member countries of ASEAN,” said Li.

    Xiao Lu, deputy director of the department of foreign trade at the Ministry of Commerce, said China’s new trade growth drivers are gaining momentum. Armed with accumulated capital and technology, Chinese companies are eager to demonstrate their innovation and technological strengths, leveraging digital and green concepts to shape the future direction of the market.

    “For instance, China-made new energy vehicles are now reaching over 170 countries and regions worldwide,” Xiao said.

    Over a million new products and items with proprietary intellectual property rights will be showcased at the Canton Fair this time, including a range of humanoid robots, smart devices and autonomous driving products making their debut, said the Ministry of Commerce.

    MIL OSI China News –

  • MIL-OSI Economics: Money Market Operations as on October 16, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,40,974.48 6.30 5.00-6.50
         I. Call Money 8,755.18 6.44 5.10-6.50
         II. Triparty Repo 3,90,913.55 6.28 5.90-6.43
         III. Market Repo 1,40,357.75 6.33 5.00-6.50
         IV. Repo in Corporate Bond 948.00 6.45 6.40-6.50
    B. Term Segment      
         I. Notice Money** 1,906.22 6.43 5.85-6.50
         II. Term Money@@ 645.00 – 6.65-6.90
         III. Triparty Repo 210.00 6.45 6.40-6.45
         IV. Market Repo 1,637.29 6.56 6.49-6.60
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Wed, 16/10/2024 1 Thu, 17/10/2024 38,133.00 6.49
    3. MSF# Wed, 16/10/2024 1 Thu, 17/10/2024 5,872.00 6.75
    4. SDFΔ# Wed, 16/10/2024 1 Thu, 17/10/2024 73,858.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,06,119.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo Fri, 04/10/2024 14 Fri, 18/10/2024 44,275.00 6.49
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Tue, 15/10/2024 2 Thu, 17/10/2024 26,060.00 6.49
      Mon, 14/10/2024 4 Fri, 18/10/2024 24,070.00 6.49
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,222.87  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -83,642.13  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -1,89,761.13  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on October 16, 2024 9,76,272.62  
         (ii) Average daily cash reserve requirement for the fortnight ending October 18, 2024 10,01,756.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 16, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on September 20, 2024 4,18,318.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1312

    MIL OSI Economics –

  • MIL-OSI Economics: Tripleplay and quadrupleplay to drive overall multiplay services market in South Korea during 2023-2028, forecasts GlobalData

    Source: GlobalData

    Tripleplay and quadrupleplay to drive overall multiplay services market in South Korea during 2023-2028, forecasts GlobalData

    Posted in Technology

    South Korea’s multiplay services market is set for steady growth between 2023 and 2028, driven primarily by tripleplay and quadrupleplay bundles. Increased demand for high-speed fiber broadband and value-added services like IPTV and OTT video will boost household spending on these packages. While doubleplay remains dominant, quadrupleplay is projected to see the fastest growth, supported by fixed-mobile convergence adoption, says GlobalData, a leading data and analytics company.

    GlobalData’s South Korea Multiplay Forecast Model (Q1 2024) reveals that South Korea’s multiplay service revenue is expected to see a gradual yet consistent increase at a compound annual growth rate (CAGR) of 1% from $6.2 billion in 2023 to $6.6 billion in 2028.

    The aggregate increase in total multiplay households will be supported by operators discounted multiplay bundles centered on high-speed fiber broadband services. The growth in multiplay households will however remain tepid i.e., at a CAGR of 0.3% over the forecast period, given the growing popularity of OTT video services that are often bundled with fiber broadband plans.

    Hrushikesh Mahananda, Telecom Analyst at GlobalData, says: “The average monthly household spend on overall multiplay bundles is forecast to increase from $27.09 in 2023 to $28.02 in 2028, driven by the growing adoption of relatively high-cost tripleplay and quadrupleplay services and service bundles offerings inclusive of IPTV services and value-added OTT services.”

    Doubleplay services will account for majority of the multiplay households through 2028. Quadrupleplay services, on the other hand, are estimated to increase at the fastest rate over the forecast period and are expected to garner about 23% share of the total multiplay households by the end of 2028, owing to the growth in fixed mobile convergence household penetration.

    Mahananda concludes: “The three major operators KT Corp, SK Telecom, and LG Group are offering discounts on fixed broadband and multiplay plans with a goal to bring down churn and increase revenue-generating units (RGUs). KT Corp will lead the overall multiplay services market through 2028, given its strong subscriber base in triple-play and quad-play services.”

    MIL OSI Economics –

  • MIL-OSI Economics: Consumer sustainability demands drive Thailand’s food and beverage companies to shift to circular packaging, says GlobalData

    Source: GlobalData

    Consumer sustainability demands drive Thailand’s food and beverage companies to shift to circular packaging, says GlobalData

    Posted in Consumer

    Thailand’s food and beverage (F&B) industry is undergoing a significant shift towards sustainability as regulatory pressures and consumer demands for eco-friendly packaging continue to rise. With sustainability increasingly at the forefront of business strategies, industry leaders like Tetra Pak Thailand are taking significant steps to drive the adoption of circular packaging solutions. Underlining the trend, 90% of respondents in a recent survey stated that they choose sustainable feature as essential/nice to have when deciding to make a purchase*, says GlobalData, a leading data and analytics company.

    In response to growing environmental concerns, the Thai government has implemented stronger regulations targeting waste reduction and promoting circularity. The Second National Action Plan on Plastic Waste (2022-2027) and the Sustainable Packaging Act are part of the government’s broader effort to tackle plastic waste and improve recycling rates. These regulations compel F&B manufacturers to adopt Extended Producer Responsibility (EPR) frameworks, ensuring that packaging is responsibly managed from production through disposal.

    Kakarlapudi Karthik Varma, Consumer Analyst at GlobalData, comments: “With sustainability becoming a priority for consumers, brands are adapting to meet these expectations. F&B manufacturers are increasingly turning to renewable and recyclable materials as they seek to meet both regulatory requirements and consumer expectations.

    “Tetra Pak Thailand has been at the forefront of circular packaging innovations, offering solutions that not only meet regulatory requirements but also align with consumer preferences for eco-friendly packaging. Other manufacturers have also taken initiatives, such as Kao Industrial Thailand’s partnership with SCG Chemicals Co., Ltd (SCGC) and Dow Thailand Group to create recyclable, low-carbon packaging.”

    Francis Gabriel Godad, Consumer Business Development Manager, GlobalData India, adds: “Tetra Pak’s four-step approach—focused on resource conservation, energy recovery, operational efficiency, and environmentally neutral production processes—highlights the company’s commitment to advancing sustainability in the F&B industry. Their packaging materials, including FSC-certified paperboard, contribute to the shift towards a circular economy by reducing reliance on fossil fuels and minimizing environmental impact.”

    Varma concludes: “With the introduction of the Sustainable Packaging Act and the continuous pressure from consumers, Thailand’s packaging industry is at a turning point. Collaboration among businesses, government entities, and industry leaders like Tetra Pak is crucial in creating a future where packaging is no longer considered waste but a valuable resource within the circular economy.

    “The shift towards 100% recyclable and renewable packaging is on the horizon, and stakeholders in the F&B sector must proactively stay ahead of regulatory trends and consumer demands.”

    *GlobalData 2024 Q2 Consumer Survey – Thailand was conducted with 502 participants

    MIL OSI Economics –

  • MIL-OSI Economics: Indigenous nuclear-powered attack submarines to enhance India’s maritime security in IOR, says GlobalData

    Source: GlobalData

    Indigenous nuclear-powered attack submarines to enhance India’s maritime security in IOR, says GlobalData

    Posted in Aerospace, Defense & Security

    In a significant move towards bolstering maritime security, India’s Cabinet Committee on Security (CCS) has recently approved the indigenous construction of two Project 75-Alpha nuclear attack submarines (SSNs). The procurement of indigenous nuclear-powered submarines capable of undertaking hunter-killer operations positions the Indian Navy as a formidable force capable of conducting anti-submarine warfare in the Indian Ocean Region (IOR), says GlobalData, a leading data and analytics company.

    GlobalData’s report, “Global Submarine Market Analysis and Forecast to 2033”, reveals that India will be spending about $31.6 billion on procuring various types of submarines over the next 10 years. Out of which, 30.5% will be directed towards the procurement of Project 75-Alpha SSNs during the same period. India is expected to procure a total of six SSNs under this program at an estimated value of $17 billion.

    Udayini Aakunoor, Aerospace & Defense Analyst at GlobalData, comments: “The acquisition of SSNs is a strategic move by India to modernize its Navy and tackle regional security challenges. To be built at the Ship Building Centre located in Vishakhapatnam with participation from the domestic private sector, they are expected to boost the country’s autonomy in complex naval shipbuilding.

    “Designed to operate at greater depths and for longer durations than conventional submarines, the SSNs will enhance the Indian Navy’s ability to perform multiple roles, ranging from offensive operations to intelligence gathering, while also enabling it to maintain a continuous and discreet presence in strategically important maritime chokepoints, such as the Strait of Malacca, the Gulf of Aden, and the Persian Gulf.”

    With their unlimited underwater endurance and offensive power, the SSNs will enable India to project power in the Indo-Pacific region while supporting self-reliant advancements in critical defense technologies. These advanced SSNs, coupled with the Indian Navy’s P-8I maritime patrol aircraft, would enhance the service’s ability to detect and track Chinese submarines operating in the IOR.

    Aakunoor concludes: “India will also likely use these Project 75-Alpha SSNs to protect its in-service Arihant-class nuclear-powered ballistic missile submarine (SSBN), which serves as the sea-based leg of the country’s nuclear triad. This, in turn, will enhance India’s second-strike capability as the survivability of its fleet of Arihant-class SSBNs will increase significantly owing to the protection provided by the Project 75-Alpha SSNs.”

    MIL OSI Economics –

  • MIL-OSI China: Hainan to issue dim sum bonds in HK

    Source: China State Council Information Office

    The country’s southernmost province of Hainan plans to issue up to 3 billion yuan ($421.8 million) in offshore renminbi bonds in the Hong Kong Special Administrative Region, marking its third consecutive year of tapping the dim sum bond market.

    The People’s Government of Hainan and the Hong Kong Monetary Authority jointly hosted an investor roadshow on Wednesday to promote the bond sale. This follows Hainan raising 5 billion yuan through a mix of green, blue and sustainable bonds last year, and a 5 billion yuan offering in 2022.

    This year’s bond sale is expected to include three tranches: a three-year green bond for environmental and social sustainability projects, a five-year bond for general government use, and a 10-year blue bond focusing on ocean-related initiatives.

    The pricing of the bonds is expected to take place on Thursday.

    Under Secretary for Financial Services and the Treasury of the HKSAR government Joseph Chan Ho-lim said that the sale “marks Hainan’s first 10-year long-term offshore renminbi bond, further enriching Hong Kong’s renminbi financial product offerings and supporting the internationalization of renminbi”.

    “For years, Hong Kong has been Asia’s largest international bond issuance center and hosts the world’s largest offshore renminbi liquidity pool,” he added.

    Chan noted that Hainan’s bond issuance in Hong Kong demonstrates the SAR’s crucial role as a “superconnector” between the Chinese mainland and the rest of the world, and “super value-adder” in international finance.

    Kenneth Hui Wai-chi, the executive director (external) of the Hong Kong Monetary Authority, said the bond structure reflects the mainland authorities’ commitment to sustainable development and the national “30/60 dual carbon” goal, referring to peak CO2 emissions before 2030 and achieve carbon neutrality before 2060.

    Hui noted the fundraising amount will be used for critical areas such as marine protection, water pollution control, and projects supporting public welfare in healthcare and education.

    The island province posted a 766 billion yuan GDP last year, marking an increase of 9.2 percent year-on-year.

    Li Lei, deputy director of the Department of Finance of Hainan province, said that Hainan’s local government debt balance stood at 410.6 billion yuan in 2023, accounting for 54.4 percent of the province’s GDP.

    From 2020 to June this year, the Hainan free trade port recorded duty-free imports totaling 20.75 billion yuan, with total tax exemptions reaching 4 billion yuan, Li added.

    MIL OSI China News –

  • MIL-OSI Economics: The Wall Elevates Art and Technology at Venice Biennale

    Source: Samsung

    Samsung Electronics added a new dimension to cinematic storytelling with The Wall Micro LED display at this year’s world famous Venice Biennale Art Festival.
     
    At the festival, The Wall Micro LED is showcasing director Marco Perego’s latest film Dovecote, starring Zoë Saldaña. Dovecote is a poignant film about a woman’s emotional journey as she leaves the prison and the deep bonds she formed with fellow inmates.
     
    The screenings, scheduled until the close of the festival on November 24, take place in a unique setting at the Vatican’s official pavilion located in the Giudecca women’s prison. This venue adds layers of emotional depth to the film as it is also where the piece was filmed, heightening the themes of freedom, belonging and resilience.
     
    ▲ The Giudecca Women’s Prison, the filming location and venue for the screening of Dovecote
     
     
    Unparalleled Visual Artistry With The Wall
    Renowned for its celebration of artistic expression, the Venice Biennale became a stage for technological innovation with Samsung Electronics’ involvement this year. Perego’s Dovecote demanded a display capable of capturing its emotional intricacies, including the strong bonds formed between the inmates and the isolation they endure. The superior color accuracy and contrast of The Wall made it the ideal choice.
     
    
     
    The collaboration between Perego and Samsung was a natural fit. Samsung Electronics provided advanced display technology and technical support from installation to execution, ensuring the visual depth intended by the director.
     
     
    Groundbreaking Micro LED Technology Elevates Visual Art to New Heights
    Samsung Electronics’ cutting-edge Micro LED technology was selected to showcase Perego’s Dovecote. The Wall’s 1.2mm pixel pitch IWA model was chosen for its ability to immerse viewers in the film’s delicate visual nuances.
     
    ▲ Film director Marco Perego viewing a screening of Dovecote
     
    With Samsung’s The Wall, Perego was able to realize his artistic vision, presenting his film with the superior display needed to convey the precise hues and contrasts achieved during the color grading process. The immersive experience enabled by Samsung’s display technology was key to the film’s success in captivating artists, curators and art enthusiasts worldwide.
     
    “The most important thing after you finish a film is how you show this film,” said Perego, following the premiere on August 17. “Thanks to the collaboration with Samsung, we were capable of really bringing out the right color and the right contrast to achieve the emotional impact I envisioned for the film.”
     
    The Wall’s Micro LED technology delivers deep blacks and amazing contrast, intensifying the emotional weight of each scene while fully immersing viewers in the film’s themes and the performances of Saldaña and the cast.
     
    ▲ Samsung Electronics team alongside director Marco Perego and actor Zoë Saldaña
     
    This collaboration stemmed from Samsung’s long-standing relationships with Hollywood industry professionals, including previous work with the Cinema LED Onyx. Originally shot at 23.98 frames per second in cinema color spaces, the teams worked together to seamlessly integrate Dovecote‘s cinematic elements with The Wall’s advanced display technology, pushing the boundaries of traditional screens.
     
    “The Wall’s Micro LED technology resulted in a collaboration that delivered a screening with all of the elements great for the art industry,” said Paul Maloney, Head of Hardware Tech Consulting, Europe Display Office, Samsung Electronics. “For Samsung, it has been an honor to have supported Marco Perego’s film and achieve the artistic vision he had imagined.”
     
    ▲ Director Marco Perego with Paul Maloney, Head of Hardware Tech Consulting, Europe Display Office, Samsung Electronics during the Dovecote screening
     
    “We are incredibly proud to contribute to this unique project,” said Ben Holmes, Director of Display Marketing, Europe Display Office, Samsung Electronics. “The Wall’s superior picture quality, coupled with its ability to bring out the minute details and vibrant colors, perfectly aligned with Marco Perego’s vision of creating an immersive experience to draw viewers into the themes of the film.”
     
     
    Empowering Creators with Cutting-Edge Display Technology
    Samsung continues to push the boundaries of display technology with The Wall, empowering creators in film and art. The Wall for Virtual Production (IVC model) is another prime example that enables companies and producers to innovate their productions. The ultra-large LED walls are created for virtual content, which seamlessly integrates real-time visual effects to reduce production time and costs.
     
    Samsung’s The Wall displays have been utilized by artists worldwide to bring their creative visions to life. For example, contemporary Korean art leader, the late Park Seo-Bo, showcased his masterpiece on The Wall All-in-One (IAB model) 146-inch 4K screen at New York’s Rockefeller Center.
     
    ▲ Park Seo-Bo’s “Écriture” series, digitally rendered on The Wall’s 146-inch 4K screen, at the “Origin, Emergence, Return” exhibition, Rockefeller Center, New York.
     
    Likewise, Dutch-American audiovisual artist 0010×0010 used The Wall All-in-One during an exhibition in Bangkok, Thailand, to explore the convergence of digital and physical worlds. These are just a few examples of how The Wall is helping to redefine the boundaries of modern art.
     
    Samsung Electronics’ participation at the 60th Venice Biennale is more than just a milestone in its support of the arts; it is a testament to the future of art and technology converging. By continuing to push the limits of display technology, Samsung opens new possibilities for creators across the globe, allowing them to tell their stories with unparalleled visual depth and clarity.

    MIL OSI Economics –

  • MIL-OSI: Nokia Corporation Interim Report for Q3 2024

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Interim Report
    17 October 2024 at 08:00 EEST

    Nokia Corporation Interim Report for Q3 2024

    Strong gross margin improvement amidst ongoing market weakness

    • Q3 net sales declined 7% y-o-y in constant currency (-8% reported) as growth in Network Infrastructure and Nokia Technologies was offset by decline in Mobile Networks primarily in India and a divestment in Cloud and Network Services.
    • Order intake remained strong in Network Infrastructure, while the sales recovery continues to be slower than expected.
    • Comparable gross margin in Q3 increased by 490bps y-o-y to 45.7% (reported increased 500bps to 45.2%), with improvements across business groups, particularly in Mobile Networks.
    • Q3 comparable operating margin increased 160bps y-o-y to 10.5% (reported up 70bps to 5.7%), mainly due to higher gross margin, continued cost control and a benefit from the reversal of loss allowances for certain trade receivables.
    • Q3 comparable diluted EPS for the period of EUR 0.06; reported diluted EPS for the period of EUR 0.03.
    • Q3 free cash flow of EUR 0.6 billion, net cash balance EUR 5.5 billion.
    • Continued to make significant progress with cost savings program, EUR 500 million run-rate of gross savings actioned.
    • Nokia’s full year 2024 outlook is unchanged. Nokia currently expects comparable operating profit of between EUR 2.3 billion and 2.9 billion and free cash flow conversion from comparable operating profit of between 30% and 60%.

    This is a summary of the Nokia Corporation Interim Report for Q3 2024 published today. Nokia only publishes a summary of its financial reports in stock exchange releases. The summary focuses on Nokia Group’s financial information as well as on Nokia’s outlook. The detailed, segment-level discussion will be available in the complete financial report hosted at http://www.nokia.com/financials. A video interview summarizing the key points of our Q3 results will also be published on the website. Investors should not solely rely on summaries of Nokia’s financial reports and should also review the complete reports with tables.

    PEKKA LUNDMARK, PRESIDENT AND CEO, ON Q3 2024 RESULTS

    As I reflect on our performance in the third quarter, I am optimistic we are now turning the corner in many parts of our business, even if some continue to experience market weakness. Among the key highlights was a return to net sales growth in Network Infrastructure with Fixed Networks growing 9% in constant currency and IP Networks growing 6%. Order intake in Network Infrastructure continued to be robust with strong year-on-year growth and a growing order backlog. Additionally, we delivered a significant improvement in our gross margin at the group level and cash generation remained strong with EUR 621 million free cash flow in the quarter.

    There are reasons for optimism across our portfolio. We expect a significant acceleration in growth in Q4 in Network Infrastructure and see a number of structural demand trends supporting our future growth. In Mobile Networks, although market dynamics are more challenging, we have secured several important deals in the quarter, remain confident in our competitive position and are improving our gross margin. In Cloud and Network Services we are seeing excellent momentum in 5G Core along with strong progress in network automation, cloudification and enabling network APIs. Nokia Technologies continues to benefit from greater stability following the conclusion of its smart-phone renewal cycle and is making good progress expanding into the new growth areas.

    Across Nokia we are investing to create new growth opportunities outside of our traditional communications service provider market. We see a significant opportunity to expand our presence in the data center market and are investing to broaden our product portfolio in IP Networks to better address this. Our pending acquisition of Infinera will also bolster our Optical Networks exposure to this market and accelerate our growth opportunities. Additionally, we see a compelling new long-term opportunity in bringing 5G technology to the defense market and we continue to invest in private wireless networks where we are the clear market leader.

    Regarding our financial performance in Q3, our net sales declined by 7% in the quarter in constant currency. Three quarters of the decline was driven by India due to a strong year-ago quarter. Importantly we delivered a significant improvement in comparable gross margin which expanded 490 basis points from the year-ago period to reach 45.7%. This was driven by a combination of improved product mix, regional mix and actions to reduce product cost. Despite continued intense competition, we remain disciplined on price while still winning deals as we remain focused on improving the profitability of our business. We also progressed our cost reduction efforts contributing to a solid improvement of 160 basis points in our comparable operating margin on a year-on-year basis.

    Regarding full year 2024, our comparable operating profit outlook remains EUR 2.3 to 2.9 billion and we are currently tracking within the bottom-half of the range. The net sales recovery is happening slower than we expected previously, however, this is being partially offset by an improving gross margin and quick action on cost. We expect to be at the high end of our free cash flow target of 30% to 60% conversion from comparable operating profit.

    FINANCIAL RESULTS

    EUR million (except for EPS in EUR) Q3’24 Q3’23 YoY change Constant currency YoY change Q1-Q3’24 Q1-Q3’23 YoY change Constant currency YoY change
    Reported results                
    Net sales 4 326 4 709 (8)% (7)% 13 236 15 722 (16)% (15)%
    Gross margin % 45.2% 40.2% 500bps   46.1% 39.4% 670bps  
    Research and development expenses (1 116) (1 067) 5%   (3 376) (3 197) 6%  
    Selling, general and administrative expenses (692) (697) (1)%   (2 101) (2 104) 0%  
    Operating profit 246 237 4%   1 082 1 127 (4)%  
    Operating margin % 5.7% 5.0% 70bps   8.2% 7.2% 100bps  
    Profit from continuing operations 145 130 12%   965 700 38%  
    Profit/(loss) from discontinued operations 31 3 933%   (494) 11    
    Profit for the period 175 133 32%   471 711 (34)%  
    EPS for the period, diluted 0.03 0.02 50%   0.08 0.13 (38)%  
    Net cash and interest-bearing financial investments 5 460 2 960 84%   5 460 2 960 84%  
    Comparable results                
    Net sales 4 326 4 709 (8)% (7)% 13 236 15 722 (16)% (15)%
    Gross margin % 45.7% 40.8% 490bps   47.0% 39.9% 710bps  
    Research and development expenses (1 029) (1 024) 0%   (3 169) (3 119) 2%  
    Selling, general and administrative expenses (591) (594) (1)%   (1 785) (1 833) (3)%  
    Operating profit 454 418 9%   1 477 1 507 (2)%  
    Operating margin % 10.5% 8.9% 160bps   11.2% 9.6% 160bps  
    Profit for the period 358 293 22%   1 198 1 035 16%  
    EPS for the period, diluted 0.06 0.05 20%   0.21 0.18 17%  
    ROIC(1) 10.4% 11.9% (150)bps   10.4% 11.9% (150)bps  

    1 Comparable ROIC = Comparable operating profit after tax, last four quarters / invested capital, average of last five quarters’ ending balances. Refer to the Alternative performance measures section in Nokia Corporation Interim Report for Q3 2024 for details.

    Business group results Network
    Infrastructure    		 Mobile
    Networks    		 Cloud and Network Services Nokia
    Technologies    		 Group Common and Other
    EUR million Q3’24 Q3’23 Q3’24 Q3’23 Q3’24 Q3’23 Q3’24 Q3’23 Q3’24 Q3’23
    Net sales 1 525 1 534 1 747 2 157 702 742 352 258 3 22
    YoY change (1)%   (19)%   (5)%   36%   (86)%  
    Constant currency YoY change 1%   (17)%   (4)%   35%   (86)%  
    Gross margin % 42.1% 40.5% 39.8% 34.8% 40.9% 39.1% 100.0% 100.0%    
    Operating profit/(loss) 180 165 92 99 65 36 242 181 (126) (62)
    Operating margin % 11.8% 10.8% 5.3% 4.6% 9.3% 4.9% 68.8% 70.2%    

    SHAREHOLDER DISTRIBUTION

    Dividend

    Under the authorization by the Annual General Meeting held on 3 April 2024, the Board of Directors may resolve on the distribution of an aggregate maximum of EUR 0.13 per share to be paid in respect of financial year 2023. The authorization will be used to distribute dividend and/or assets from the reserve for invested unrestricted equity in four installments during the authorization period, in connection with the quarterly results, unless the Board decides otherwise for a justified reason.

    On 17 October 2024, the Board resolved to distribute a dividend of EUR 0.03 per share. The dividend record date is 22 October 2024 and the dividend will be paid on 31 October 2024. The actual dividend payment date outside Finland will be determined by the practices of the intermediary banks transferring the dividend payments.

    Following this announced distribution, the Board’s remaining distribution authorization is a maximum of EUR 0.03 per share.

    Share buyback program

    In January 2024, Nokia’s Board of Directors initiated a share buyback program to repurchase shares to return up to EUR 600 million of cash to shareholders in tranches over a period of two years. The share buyback execution started on 20 March 2024. On 19 July 2024, Nokia’s Board of Directors decided to accelerate the timeframe for the share buyback program with the aim of completing the full EUR 600 million program by the end of this year instead of the initial two year timeframe.

    On 27 June 2024, Nokia announced its intention to acquire Infinera in a transaction that valued Infinera at US$1.7 billion equity value with up to 30% of the consideration to be paid in Nokia American depositary shares (“ADSs”), depending on the elections of Infinera shareholders. Nokia’s Board of Directors is committed to repurchase additional shares on top of the on-going EUR 600 million program to offset the dilution from the transaction to Nokia shareholders.

    Under the share buyback program, by 30 September 2024, Nokia had repurchased 84 295 899 of its own shares at an average price per share of approximately EUR 3.48.

    OUTLOOK

      Full Year 2024
    Comparable operating profit(1) EUR 2.3 billion to EUR 2.9 billion
    Free cash flow(1) 30% to 60% conversion from comparable operating profit

    1Please refer to Alternative performance measures section in Nokia Corporation Interim Report for Q3 2024 for a full explanation of how these terms are defined.

    The outlook, long-term targets and all of the underlying outlook assumptions described below are forward-looking statements subject to a number of risks and uncertainties as described or referred to in the Risk Factors section later in this release. Along with Nokia’s official outlook targets provided above, below are outlook assumptions by business group that support the group level outlook.

      Nokia business group assumptions (full year 2024)
      Net sales growth (constant currency) Operating margin
    Network Infrastructure -6% to -3% (update) 10.0% to 12.0% (update)
    Mobile Networks -22% to -19% (update) 5.0% to 7.0% (update)
    Cloud and Network Services -7% to -4% (update) 6.0% to 8.0% (update)

    Nokia provides the following approximate outlook assumptions for additional items concerning 2024:

      Full year 2024 Comment
    Nokia Technologies operating profit at least
    EUR 1.4 billion    		 Nokia expects cash generation in Nokia Technologies to be EUR 700 million below operating profit in 2024 due to prepayments received in 2023. From 2025 onwards Nokia expects greater alignment between cash generation and operating profit in Nokia Technologies.
    Group Common and Other operating expenses EUR 350 million This includes central function costs which are expected to be largely stable at approximately EUR 200 million and an increase in investment in long-term research to approximately EUR 150 million.
    Comparable financial income and expenses Positive EUR 75 to EUR 125 million  
    Comparable income tax rate ~25%  
    Cash outflows related to income taxes EUR 450 million  
    Capital Expenditures EUR 450 million (update)  

    2026 TARGETS

    Nokia’s current targets for its existing perimeter of the business for 2026 are outlined below. This does not consider pending acquisitions. The Network Infrastructure operating margin assumption below considers Submarine Networks being treated as a discontinued operation. Nokia sees further opportunities to increase margins beyond 2026 and believes an operating margin of 14% remains achievable over the longer term.
    Net sales    		 Grow faster than the market
    Comparable operating margin(1) ≥ 13%
    Free cash flow(1) 55% to 85% conversion from comparable operating profit

    1 Please refer to Alternative performance measures section in Nokia Corporation Interim Report for Q3 2024 for a full explanation of how these terms are defined.

    The comparable operating margin target for Nokia group is built on the following assumptions by business group for 2026:

    Network Infrastructure 13 – 16% operating margin
    Mobile Networks 6 – 9% operating margin
    Cloud and Network Services 7 – 10% operating margin
    Nokia Technologies Operating profit more than EUR 1.1 billion
    Group common and other Approximately EUR 300 million of operating expenses

    RISK FACTORS

    Nokia and its businesses are exposed to a number of risks and uncertainties which include but are not limited to:

    • Competitive intensity, which is expected to continue at a high level as some competitors seek to take share;
    • Changes in customer network investments related to their ability to monetize the network;
    • Our ability to ensure competitiveness of our product roadmaps and costs through additional R&D investments;
    • Our ability to procure certain standard components and the costs thereof, such as semiconductors;
    • Disturbance in the global supply chain;
    • Impact of inflation, increased global macro-uncertainty, major currency fluctuations and higher interest rates;
    • Potential economic impact and disruption of global pandemics;
    • War or other geopolitical conflicts, disruptions and potential costs thereof;
    • Other macroeconomic, industry and competitive developments;
    • Timing and value of new, renewed and existing patent licensing agreements with licensees;
    • Results in brand and technology licensing; costs to protect and enforce our intellectual property rights; on-going litigation with respect to licensing and regulatory landscape for patent licensing;
    • The outcomes of on-going and potential disputes and litigation;
    • Our ability to execute, complete and realize the expected benefits from our ongoing transactions;
    • Timing of completions and acceptances of certain projects;
    • Our product and regional mix;
    • Uncertainty in forecasting income tax expenses and cash outflows, over the long-term, as they are also subject to possible changes due to business mix, the timing of patent licensing cash flow and changes in tax legislation, including potential tax reforms in various countries and OECD initiatives;
    • Our ability to utilize our Finnish deferred tax assets and their recognition on our balance sheet;
    • Our ability to meet our sustainability and other ESG targets, including our targets relating to greenhouse gas emissions;as well the risk factors specified under Forward-looking statements of this release, and our 2023 annual report on Form 20-F published on 29 February 2024 under Operating and financial review and prospects-Risk factors.

    FORWARD-LOOKING STATEMENTS

    Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia’s current expectations and views of future developments and include statements regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to our ongoing transactions and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “see”, “plan” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties identified in the Risk Factors above.

    ANALYST WEBCAST

    • Nokia’s webcast will begin on 17 October 2024 at 11.30 a.m. Finnish time (EEST). The webcast will last approximately 60 minutes.
    • The webcast will be a presentation followed by a Q&A session. Presentation slides will be available for download at http://www.nokia.com/financials.
    • A link to the webcast will be available at http://www.nokia.com/financials.
    • Media representatives can listen in via the link, or alternatively call +1-412-317-5619.

    FINANCIAL CALENDAR

    • Nokia plans to publish its fourth quarter and full year 2024 results on 30 January 2025.

    About Nokia

    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Inquiries:

    Nokia
    Communications
    Phone: +358 10 448 4900
    Email:press.services@nokia.com
    Maria Vaismaa, Global Head of External Communications

    Nokia
    Investor Relations
    Phone: +358 4080 3 4080
    Email:investor.relations@nokia.com

    Attachment

    The MIL Network –

  • MIL-OSI Security: USS San Diego Holds Change of Command Ceremony in Sasebo, Japan

    Source: United States Navy Pacific Fleet 1

    by Lt. Bridget Wiseman

    03 October 2024

    Capt. Timothy R. Carter relieved Capt. David W. Walton as commanding officer of amphibious transport dock ship USS San Diego (LPD 22) during a change of command ceremony held in the ship’s well deck, Oct. 03.

    RDML. Christopher Stone, served as the guest speaker and presiding officer for the event, during which he presented Walton with a Legion of Merit for his time aboard San Diego.

    “Captain Walton, while serving as commanding officer of San Diego, imbued in his team the concepts of how we fight. He tirelessly fostered a culture of excellence that built capable warfighters, warfighters who are ready and will make a significant impact in Seventh Fleet, operating alongside our Allies and partners in ensuring a free and open Indo-Pacific. D.J., as we wish you fair winds and following seas, I want to congratulate you on a job well done”.

    Walton led San Diego through a challenging Maintenance, Basic, and Advanced Phase. After finishing an extended dry-docking selected restricted availability (SRA), Walton led the ship and her crew through a 47-week Basic Phase while managing four major scheduled and emergent repair availabilities – testing, managing and training many significant modernizations to the ship’s propulsion and electrical plant and combat system suite.
    Most notably, Walton led the ship in the historical NASA URT-11 mission where, for the first time, the Department of Defense and NASA completed a full recovery simulation with the Artemis II Flight Crew. This was in preparation for the Artemis II crewed mission that will send four astronauts in Orion beyond the Moon for the first time. He continued his tour accomplishing the successful homeport shift of San Diego from her namesake city of San Diego, Calf. to Sasebo Japan. He spoke of the crew’s greatest achievements and his proudest memories while on San Diego.

    “Leading the men and women of USS San Diego has been the highest honor of my naval career. Over the past couple of years we have faced challenges and celebrated victories. Whether it was completing the SRA, excelling throughout the Basic Phase, working NASA, or most recently conducting a flawless home port change, I have always been proud to witness the unwavering dedication, professionalism, and resilience displayed by every Sailor aboard this ship.”

    Walton concluded his remarks by reading his orders, followed by Carter reading his own orders and addressing the crew for the first time as San Diego’s commanding officer.

    “Captain Walton, your leadership and dedication have set a high standard, and it’s an honor to follow in your footsteps. To the crew of USS San Diego (LPD 22), I assume command today with great pride and humility. I understand the responsibility of this role, and I am committed to leading with integrity, respect, and a relentless focus on our mission.”

    Captain Carter served as Battle Watch Captain and Maritime Homeland Defense Planner (N35) on the staff of U.S. Fleet Forces Command. Current Operations Director and Future Operations Director at Commander Fifth Fleet. He served as Military Deputy for Deputy Assistance Secretary of Defense for Platform Weapon Portfolio Management at the Pentagon. He is a graduate of the Naval Postgraduate School in Monterey, California, where he obtained a Master of Science in Information System Technology and completed his Joint Professional Military Education Phase I. He is a graduate of the National War College in Washington, D.C. where he obtained a Master of Science in National Security Strategy.

    Walton will report to OPNAV N95 as the Expeditionary Warfare Readiness Director at the Pentagon in Arlington, Virginia.

    For more news from USS San Diego, visit https://www.surfpac.navy.mil/lpd22/
    On Facebook, visit http://www.facebook.com/LPD22

    MIL Security OSI –

  • MIL-OSI China: Hong Kong to build int’l gold trading center

    Source: China State Council Information Office

    Hong Kong will take advantage of its strength in gold import and export to build itself into an international gold trading center, John Lee, chief executive of the Hong Kong Special Administrative Region (HKSAR), said while delivering his third policy address Wednesday.

    Noting that Hong Kong ranks among the world’s largest import and export markets for gold by volume, Lee said that the current complexity in geopolitics underscores Hong Kong’s edge in security and stability, and hence an attractive location for investors for gold storage, spurring relevant activities such as gold trading, settlement, and delivery.

    “This will spur development of the related industry chain, ranging from investment transactions, derivatives, insurance, storage, to trading and logistic services,” Lee said.

    The HKSAR government will promote the development of world-class gold storage facilities, facilitating the storage and delivery of spot gold by users and investors in Hong Kong, and driving demand for related services such as collateral and loan businesses, opening up new growth areas of the financial sector, Lee said.

    The financial services and the treasury bureau of the HKSAR government will set up a working group to take forward the establishment of the international gold trading center, Lee said, adding that this will include, among other things, strengthening the trading mechanism and regulatory framework, promoting application of cutting-edge financial technology, and actively exploring with the mainland authorities on the inclusion of gold-related products in the mutual market access program.

    The international gold trading center was part of the measures Lee announced Wednesday to strengthen Hong Kong’s status as a global financial center. Among other measures, Hong Kong will deepen mutual market access and enrich offshore renminbi (RMB) business to reinforce its status as the world’s largest offshore renminbi business hub.

    Hong Kong will strive to provide more RMB-denominated investment product, including seeking support from the Ministry of Finance for boosting the size and frequency of issuing RMB sovereign bonds, and launching offshore RMB sovereign bond futures as soon as possible, Lee said.

    It will also actively liaise with the mainland authorities to expand the bond connect as appropriate, Lee said.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: President Lai meets delegation led by Reporters Without Borders Director General Thibaut Bruttin

    Source: Republic of China Taiwan

    President Lai meets delegation led by Reporters Without Borders Director General Thibaut Bruttin
    President Lai meets delegation led by Reporters Without Borders Director General Thibaut Bruttin
    2024-10-16

    On the afternoon of October 16, President Lai Ching-te met with a delegation led by Thibaut Bruttin, director general of Reporters Without Borders (RSF). In remarks, President Lai mentioned that today, Taiwan is not just a center for press freedom in Asia, but also a hub for international press throughout the Asia-Pacific region. The president said that Taiwan stands on the frontline of the defense of democracy, determined to do all we can to safeguard the values of freedom and democracy. He also said that Taiwan hopes to pursue an even more active role in the international community as we work alongside RSF and global democratic partners to champion press freedom and sustainable democracy.
    A translation of President Lai’s remarks follows:
    I warmly welcome RSF Director General Bruttin, who is visiting for the first time since taking on the role in July. Seven years ago, RSF established its first Asia bureau in Taipei. We have been honored to work with you all and contribute even more toward press freedom in Asia.
    Taiwan is a freedom-loving democratic country. The spirit of freedom and democracy is in our DNA. And in recent years, our efforts have been recognized by the international community. We have received top rankings for Asia in various democracy indexes and evaluations of freedom. This year, Taiwan ranked first in Asia and rose to 27th in the world in the RSF World Press Freedom Index. This was our best performance ever.
    Thanks to our liberal press environment, more and more international media outlets have been stationing personnel here in Taiwan each year. Today, Taiwan is not just a center for press freedom in Asia, but also a hub for international press throughout the Asia-Pacific region. Taiwan stands on the frontline of the defense of democracy, determined to do all we can to safeguard the values of freedom and democracy.
    Of all the world’s nations, Taiwan is the most seriously targeted by foreign disinformation. Over the past few years, our government has striven to develop a more robust cybersecurity network. Taiwanese NGOs have also worked on policies designed to combat disinformation. And now we have established the Whole-of-Society Defense Resilience Committee directly under the Office of the President. By combining the strengths of the government and civil society, we aim to bolster our nation’s resilience in response to such challenges as disinformation and cyberattacks.
    Facing a torrent of disinformation and the expansion of authoritarianism, Taiwan needs the world and the world needs Taiwan. We hope to strengthen cooperation and exchanges with other countries. Together, we can support the democratic umbrella and jointly safeguard our free and democratic way of life. Moving forward, Taiwan hopes to pursue an even more active role in the international community as we work alongside RSF and global democratic partners to champion press freedom and sustainable democracy.
    Director General Bruttin then delivered remarks, indicating that it has been seven years since RSF chose Taiwan as the place to build a presence in Asia, and saying that they were right to do so in that the information provided by media in Taiwan is among the freest and more pluralistic, and that RSF stands with the media communities that are free, independent, and pluralistic.
    Director General Bruttin noted that Taiwan is number one in terms of press freedom in Asia and 27th globally, saying this is an achievement that proves how important it is to sustain the efforts of civil society and encourage it through public policies that are in line with international principles.
    The director general went on to say that there are several dimensions we could underline as a way forward for collaboration. First, he said, it is important to continue sustaining and leading the effort to have an end to the digital chaos, as the information that is spread on social media and on tech platforms is not always trustworthy or reliable, and we need to engage strongly to have policies that protect the public. Director General Bruttin said this is not just for journalism, but also for the general public, because it’s their right to know. The second point, he said, is that we need to encourage self-regulation and also protect the public through regulations that enable the media to thrive and develop. He emphasized that they believe there are ways to reform the media landscape in order to strengthen its accuracy and its ability to report with the ethical and deontological guidelines we need. Therefore, he said, we also need to strengthen the public service media in order to have a media landscape that restores the trust of the public.
    The final point, Director General Bruttin stated, is about the need to expose propaganda and foreign interference in the media sphere, saying we need to not only chase and expose the disinformation campaigns that might be going on, but also understand the strategy and geopolitics of propaganda to understand the actors, budgets, and people behind it. It’s a phenomenon that can affect Taiwan, he indicated, but also a global phenomenon, and collectively, we need to do more altogether. Director General Bruttin closed his remarks by saying Taiwanese people can be really bold in fostering democracy, so he and the delegation are very confident about the seven years ahead.

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Asian Development Bank and Kazakhstan: Fact Sheet

    Source: Asia Development Bank

    As of 31 December 2023, ADB has committed 131 public sector loans, grants, and technical assistance totaling $6 billion to Kazakhstan. ADB’s current sovereign portfolio in Kazakhstan includes 3 loans worth $452.2 million. In addition, ADB has committed $865 million nonsovereign financing for 38 transactions.

    Updated yearly, this ADB Fact Sheet provides concise information on ADB’s operations in the country and contact information.

    MIL OSI Economics –

  • MIL-OSI Economics: Panasonic HD secures SBTi verification for 2050 Net-Zero Emissions Target

    Source: Panasonic

    Headline: Panasonic HD secures SBTi verification for 2050 Net-Zero Emissions Target

    Osaka, Japan, October 17, 2024 – Panasonic Holdings Corporation (Panasonic HD) announced today that the Science Based Targets initiative(*1), a global body driving ambitious corporate climate action, has verified the company’s greenhouse gas (GHG) 2050 reduction target as a “Net-Zero Science-Based Target.”
    The SBTi promotes science-based GHG reduction targets for companies, aiming to limit global temperature rise to 1.5°C above pre-industrial levels. Its certification standards for short-term (2030) so-called “1.5°C Targets” and long-term (2050) “Net-Zero Targets” have become the global benchmark for corporate climate goals aligned with the Paris Agreement.
    In May 2023, Panasonic HD received SBTi approval for its 1.5°C Target. Now, the company has secured verification from the body for its Net-Zero Target after submitting detailed plans to achieve net-zero emissions by 2050, in line with SBTi guidelines.
    Panasonic HD’s Net-Zero Target commits to reducing GHG emissions across the company’s entire value chain. This includes scope 1 emissions from the company’s own activities, as well as scopes 2 and 3 emissions, from indirect activities, by at least 90% by FY2050 compared to FY2019 levels. The company pledges to neutralize the remaining 10% through proprietary carbon removal technologies.
    SBTi verification validates that a company’s GHG reduction targets are appropriately set, enhancing stakeholder trust in its climate action efforts. Globally, 1,138 companies have received Net-Zero Target certification, including 52 in Japan(*2).
    Panasonic HD remains committed to achieving net-zero emissions across its value chain and contributing to GHG reductions in society, driving impact toward achieving a decarbonized world.

    MIL OSI Economics –

  • MIL-OSI Economics: RBI to conduct Overnight Variable Rate Reverse Repo (VRRR) auction under LAF on October 17, 2024

    Source: Reserve Bank of India

    On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 17, 2024, Thursday, as under:

    Sl. No. Notified Amount
    (₹ crore)    		 Tenor
    (day)    		 Window Timing Date of Reversal
    1 75,000 1 12:00 Noon to 12:30 PM October 18, 2024
    (Friday)

    2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1313

    MIL OSI Economics –

  • MIL-OSI: Generative AI expected to accelerate entry-level career progress across industries

    Source: GlobeNewswire (MIL-OSI)

    Press contact:
    Mollie Mellows
    Tel.: + 44 (0) 7342 709384
    E-mail: mollie.mellows@capgemini.com

    Generative AI expected to accelerate entry-level career progress across industries

    • Employees believe generative AI will facilitate a third (32%) of entry level tasks over the next 12 months.
    • 6 in 10 managers and most employees (71%) expect entry-level roles across functions to evolve from creation to reviewing generative AI outputs, over the next 3 years.
    • Over three-quarters (78%) of leaders and managers predict generative AI will augment their problem-solving and decision-making in the next three years, and over half think manager-level positions will evolve towards specialization.

    Paris, October 17, 2024 – The Capgemini Research Institute’s new report on generative AI (Gen AI) in management, ‘Gen AI at work: Shaping the future of organizations’, published today, suggests that Gen AI could have a positive impact on early-stage careers. In the longer-term, the report finds that Gen AI has the potential to create new job roles, transform organizational structures, drive human-AI fusion teams, and make managerial roles more specialist. However, adoption remains low and nascent. The report finds most employees lack the training they need to develop Gen AI skills.

    Whilst the impact of Gen AI on careers has been hotly debated, this new research finds the majority of business leaders believe that entry level roles could become more autonomous and evolve into frontline managerial roles within the next three years. With this in mind, the proportion of managers in teams across functions could expand from 44% to 53% in the next three years; only 18% of leaders and managers believe that Gen AI will reduce middle management.

    Employees think that, over the next 12 months, generative AI tools could lead to an average time saving of 18% for entry-level workers, implying there could be significant productivity improvements for junior employees. However, the cost of the Gen AI tool must also be taken into account, cites the report. Furthermore, 81% of leaders and managers expect new roles such as data curators, AI ethics specialists and algorithm trainers to emerge at the entry level.

    “Generative AI tools are becoming more adept at assisting with complex managerial tasks, which could challenge the status quo of organizational structure and ways of working,” said Roshan Gya, CEO of Capgemini Invent and member of the Group Executive Committee. “Generative AI has the potential to shift from a co-pilot to a co-thinker, capable of strategic collaboration, adding new perspectives and challenging assumptions. This shift could unlock significant value when tailored to specific business use cases but is dependent on several factors, including organizations prioritizing building the skills and readiness of employees, taking proactive steps around talent acquisition and development.”

    Potential to redefine management but still a significant gap on actual usage
    The report finds that Gen AI is transitioning the view of future leadership and managerial roles toward becoming more strategic, focusing on decision making and fostering innovation. In fact, many managers and leaders currently believe that Gen AI tools could act as co-thinkers for them. 65% of the leaders and managers surveyed see high potential in Gen AI for complex strategic tasks, and more than half of leaders believe managers will play a critical role as catalysts of Gen AI-driven change. The technology could also save leaders and managers up to seven hours each week, with nearly 8 in 10 leaders believing that Gen AI will positively impact their productivity in the next 12 months.

    Gen AI has the potential to amplify the strategic scope of leaderships roles. Currently, managers spend more than one-third of their time on administrative tasks. However, AI’s ability to automate much of this work provides opportunities to focus on strategic-planning and problem-solving tasks. In the next three years, over three-quarters (78%) of leaders and managers expect Gen AI to augment their problem-solving and decision-making, and over half believe manager-level positions will evolve towards specialization. 57% of leaders at organizations advanced in their Gen AI implementation already see their roles becoming more strategic.

    While adoption of Gen AI in management has good potential, there is a significant gap between potential and actual usage. Although 97% of leaders and managers say that they have experimented with Gen AI tools, only 15% use Gen AI tools at least once a day in their work.

    Organizational structures need to transform to enable cohesive human-AI collaboration
    For nearly half (46%) of teams, AI is used simply as a tool to enhance existing capabilities and workflows. However, human-machine partnerships are starting to be embraced. One in three teams are currently using AI as a ‘team member’, for example by enhancing human performance or using AI agents to complete predefined tasks without human intervention. According to the research, today AI is used as a supervisor in only 1% of teams i.e., it is directing, allocating, or prioritizing work for humans. Yet, in the next 12 months, 13% of teams expect to use AI in this role. In an AI-led environment, human judgment is increasingly important, and the majority of leaders, managers and employees in the research acknowledge this.

    Training and managerial guidance required to secure the future of Gen AI at work

    Despite the potential of Gen AI to boost productivity across job functions, adoption remains nascent. While almost two-thirds (64%) of workers already use Gen AI tools for their work, only 20% of employees use Gen AI tools daily.

    Employees also lack proficiency in key skills, with only 16% believing they are getting the support they need to develop Gen AI skills. Only 13% of employees say they are well-versed in machine conversational skills; only a third say they can manage Gen AI systemic risks; and less than half claim to have prompt engineering skills. The report suggests that team members should be equipped with the right AI skills, defining rules and responsibilities for cohesive human and Gen AI collaboration, ensuring accountability when Gen AI systems make mistakes, and adapting workflows and processes for the new era of Gen AI.

    Report Methodology
    Capgemini Research Institute conducted a global quantitative executive survey in May 2024 across 15 different countries and 11 key industries, surveying 1,500 respondents from 500 organizations, with annual revenue of more than $1 billion. Each unique organization is represented by three executives, one each at leadership level, middle-management level, and front-line management level (the three respondents can be from different functions or locations). The report is also based on an entry-level employee survey to take their perspective on Gen AI adoption by their managers and leaders. The survey targeted 1,000 entry-level employees from the same 500 organizations as in the executive survey. Hence, overall, each organization, irrespective of location or function, is represented by five respondents – three executive-level (leaders and managers) and two entry-level employees. In addition to these executive and entry-level employee surveys, the report also draws on 15 in-depth interviews with independent experts from various industries across the globe to validate and substantiate findings. Please note, the study findings reflect the views of the respondents and are aimed at providing directional guidance.

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2023 global revenues of €22.5 billion.
    Get The Future You Want | http://www.capgemini.com

    About the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was recently ranked #1 in the world for the quality of its research by independent analysts.
    Visit us at https://www.capgemini.com/researchinstitute/

    Attachment

    The MIL Network –

  • MIL-OSI China: Xinjiang attracts visitors with cultural richness, natural splendor

    Source: China State Council Information Office 3

    An attendee of the 6th World Media Summit interacts with a dancer in Jiayi Village of Xinhe County, northwest China’s Xinjiang Uygur Autonomous Region, Oct. 15, 2024. The 6th World Media Summit opened on Monday in Urumqi, capital city of northwest China’s Xinjiang Uygur Autonomous Region. (Xinhua/Chen Shuo)

    Captivated by the beautiful melodies of traditional instruments and the vibrant Uygur dance performance, Joshua Isaac Jere from Zambia couldn’t resist the infectious rhythm and warm hospitality, and joined the dancers in their joyous celebration in Jiayi Village.

    Jiayi, located in Xinhe County, northwest China’s Xinjiang Uygur Autonomous Region, is renowned for its musical instrument production. Jere, an online news media manager of Zambia National Broadcasting Corporation, was part of an overseas media group visiting this small village. The trip followed the opening of the sixth World Media Summit in the regional capital of Urumqi.

    “It reminded me of home and I enjoyed it very much,” Jere said, noting that the musical instruments share many similarities with those back in his own country.

    Jiayi Village has over 300 years of history in Uygur ethnic musical instrument craftsmanship, which has been listed as a national intangible cultural heritage and features more than 10 types of meticulously handcrafted instruments, including Tambur and Dutar.

    “I have witnessed the villagers’ passion for preserving their traditional culture, especially in the crafts of handmade instruments, which have been passed down through generations,” said Kuik Cheng Kang, editor-in-chief of Malaysia’s Sin Chew Daily.

    Xinjiang’s distinct customs and lifestyle offer international visitors a glimpse into the rich diversity and inclusiveness of Chinese culture, a surprising and captivating experience for many, according to Kuik, who also believed that Xinjiang is showcasing its unique charm to the world with more confidence.

    This confidence stems from Xinjiang’s remarkable cultural and tourism resources, combined with the region’s unswerving efforts to forge itself into a more attractive, inclusive and accessible tourism hub.

    Covering one-sixth of China’s total land area, Xinjiang’s unique “three mountain ranges sandwiching two basins” terrain offers breathtaking natural scenery, from towering mountains and deep gorges to vast deserts and serene lakes.

    Xinjiang’s strategic location along the ancient Silk Road, combined with its diverse array of ethnic minorities, has forged rich cultural heritages. This is illustrated by the region’s multiple UNESCO world heritage sites, world intangible cultural heritages as well as national intangible cultural heritages.

    The unparalleled blend of natural beauty and historical significance makes Xinjiang a must-visit destination for those seeking both cultural and natural wonders, such as the Tianshan Mountains, Sayram Lake, Jiaohe Ruins and Kashgar Old Town.

    Beneath the soft glow of moonlight, another group of overseas travelers wandered into the 2,000-year-old ruins of Jiaohe. Once a key stop on the ancient Silk Road in Turpan, it now stands as the world’s largest and best-preserved clay-built ancient city. Accompanied by the sounds of flutes and strings, the visitors felt like they had been transported through time, immersing themselves in the ancient world through the performers’ chants.

    “The Jiaohe Ruins exemplify advanced concepts in cultural relic protection and cultural tourism development in China. They not only preserve the original appearance of the site but also enhance the experience with thoughtfully designed pathways, lighting, cave landscaping, background music and performances, creating a tranquil atmosphere that harmonizes with the ancient city,” said Marcelo Benez, chief commercial officer of Folha de S.Paulo.

    He said the trip to Turpan provided him with an unprecedented experience. “This remarkable place is incredibly diverse, where the past and future, history and modernity, technology and tradition intertwine in an almost unbelievable way. For first-time visitors, surprises seem to arise at every turn.”

    Delvin O’Neale Thoma, deputy minister of Media Department of Republic of Nauru, said he had only seen such cultural relics in documentaries before and being able to stand amidst such a historically significant site left a deep impression on him.

    In recent years, tourism in Xinjiang has surged in popularity, driven by a range of measures designed to enrich the travel experience, improve transportation options, and ensure the sustainable preservation of cultural resources.

    Between January and September 2024, Xinjiang received 245 million tourists from home and abroad. Tourism revenue for the first three quarters of 2024 and that of the entire 2023 reached 287.58 billion yuan (about 40.4 billion U.S. dollars) and 296.72 billion yuan, respectively.

    Xinjiang is also enhancing its tourism infrastructure by focusing on developing world-class tourist destinations, resorts, and cities over the next three years. Key scenic roads, such as the Duku Highway, will be upgraded into top self-driving routes.

    Improved transportation, including domestic and overseas flight routes and rural road projects, will further boost the region’s tourism growth, according to Sun Hongmei, vice chairperson of the regional government.

    By promoting internationalized tourism services, including accepting foreign bank cards, streamlining hotel check-in procedures to reduce wait times, and enabling foreign tourists to reserve tickets using passports and permanent residence IDs online, Xinjiang is also committed to enhancing convenience for overseas tourists. 

    MIL OSI China News –

  • MIL-OSI United Kingdom: UK and Solomon Islands Environment Ministry support waste management education initiatives

    Source: United Kingdom – Executive Government & Departments

    The UK government’s Ocean Country Partnership Programme and the Solomon Islands government through its Ministry of Environment provide education packs to schools.

    Group photo with students at St Nicholas Anglican College displaying the education packs.

    The Kukum Seventh Day Adventist School, Florence Young Christian School and Saint Nicholas Anglican College in Honiara are the first beneficiaries of primary and secondary education packs to help students understand how to better manage waste and why this is so important for our oceans.

    These education packs are being provided to schools alongside recycling bins, as the Solomon Islands and UK look to tackle marine pollution.

    These have been possible through the UK Government’s Ocean Country Partnership Programme (OCPP) and the Solomon Islands Government through its Ministry of Environment, Climate Change, Disaster Management and Meteorology (MECDM).

    At the handing over of the education packs to each school on Tuesday 15 October, British High Commissioner to Solomon Islands and Nauru, His Excellency Thomas Coward said:

    Children are our country’s future and educating them about marine biodiversity, marine pollution and sustainable seafood is important. We are pleased to present these education packs to the students and teachers, and we are hopeful they will learn to protect marine pollution.

    The Literacy Association of Solomon Islands (LASI) was engaged by the Centre for Environment Fisheries and Aquaculture Science (Cefas) to translate the education packs into Solomon Islands pijin making them simple for both teachers and students at the schools.

    Senior Research Scientist at Cefas, Freya Goodsir said:

    Through the Ocean Country Partnership Programme, we are delighted to collaborate with the Solomon Islands and support initiatives to tackle marine pollution. These education packs and recycling bins will make a real difference to the school communities and inspire the next generation to be leaders in protecting their incredible marine environment.

    Chief Environment Officer, Environment and Conservation Division at the Solomon Islands Ministry of Environment, Climate Change, Disaster Management and Meteorology, Wendy Beti said:

    The ministry is thankful to the British High Commission through its OCPP for publishing the primary and secondary education packs we are giving you. The ministry is actively supporting this programme through various initiatives including the provision of recycling bins with some schools having received them and other schools that will be delivered later. OCPP also supports the ministry through coastal water quality monitoring, awareness campaigns and billboards and provincial workshops. We look forward to collaborating with schools and important stakeholders of the programme.

    The school leaders of Kukum SDA School, Florence Young School and St Nicholas School expressed their gratitude for the education packs saying children are at the core of such initiatives as they are the country’s future.

    Construction of eight recycling bins is progressing, and the three schools are expected to receive theirs this month.

    OCPP is funded by the UK Government International Development and delivered by the Centre for Environment, Fisheries and Aquaculture Science (Cefas), the Joint Nature Conservancy Committee (JNCC) and the Marine Management Organisation (MMO) on behalf of the UK Department for Environment, Food and Rural Affairs (Defra).

    Updates to this page

    Published 17 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Deputy Secretary-General of ASEAN for Community and Corporate Affairs meets European Commissioner for Crisis Management

    Source: ASEAN

    Deputy Secretary-General of ASEAN for Community and Corporate Affairs, H.E. Nararya Sanggramawijaya Soeprapto, held a meeting with the European Commissioner for Crisis Management, H.E. Janez Lenarčič, at the ASEAN Headquarters today. They discussed the ongoing and future collaboration between ASEAN and the European Union, especially in the disaster management and humanitarian assistance sector. 

    Prior to the the meeting, DSG Nararya Soeprapto witnessed signing of the Administrative Arrangement between the ASEAN Coordinating Centre for Humanitarian Assistance on disaster management (AHA Centre) and Directorate-General for European Civil Protection and Humanitarian Aid Operations (DG ECHO). The Administrative Arrangement aims to further promote cooperation in disaster management and emergency response. 

    The post Deputy Secretary-General of ASEAN for Community and Corporate Affairs meets European Commissioner for Crisis Management appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Import of poultry meat and products from areas in Italy suspended

    Source: Hong Kong Government special administrative region

         The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department announced today (October 17) that in view of a notification from the World Organisation for Animal Health (WOAH) about outbreaks of highly pathogenic H5N1 avian influenza in Brescia Province and Cremona Province of Lombardy Region in Italy, the CFS has instructed the trade to suspend the import of poultry meat and products (including poultry eggs) from the above-mentioned areas with immediate effect to protect public health in Hong Kong.

         A CFS spokesman said that according to the Census and Statistics Department, Hong Kong imported about 40 tonnes of frozen poultry meat and about 10 000 poultry eggs from Italy in the first six months of this year.

         “The CFS has contacted the Italian authority over the issue and will closely monitor information issued by the WOAH and the relevant authorities on the avian influenza outbreak. Appropriate action will be taken in response to the development of the situation,” the spokesman said.

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Underwriting Auction for sale of Government Securities for ₹33,000 crore on October 18, 2024

    Source: Reserve Bank of India

    Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on October 18, 2024.

    As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under:

    (₹ crore)
    Security Notified Amount Minimum Underwriting Commitment (MUC) amount per PD Minimum bidding commitment per PD under ACU auction
    7.02% GS 2031 10,000 239 239
    7.23% GS 2039 13,000 310 310
    7.09% GS 2054 10,000 239 239

    The underwriting auction will be conducted through multiple price-based method on October 18, 2024 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E-Kuber) System between 09:00 A.M. and 09:30 A.M. on the day of underwriting auction.

    The underwriting commission will be credited to the current account of the respective PDs with RBI on the day of issue of securities.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1315

    MIL OSI Economics –

  • MIL-OSI: Lantronix Unveils SmartLV, the First AI-Enabled IoT Edge Compute Cellular Gateway, Powered by Qualcomm

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., Oct. 17, 2024 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global leader of compute and connectivity IoT solutions, has launched SmartLV, powered by the Qualcomm® IQ-615 processor, the first AI-enabled IoT Edge Compute Cellular Gateway. This groundbreaking innovation, designed specifically for low-voltage substations and distribution automation applications in next-generation smart grids, utilities and industrial sectors, will debut at Enlit Europe, Oct. 22–24, 2024, in Milan, Italy.

    SmartLV is engineered to revolutionize real-time visibility, control and automation in the energy sector, providing Distribution System Operators (DSOs) with the ability to manage and steer energy precisely when and where it’s needed. Built with advanced cybersecurity protocols and AI capabilities, the SmartLV ensures robust, reliable and secure operations for mission-critical applications, offering unmatched control over low-voltage substations and Distributed Energy Resources (DERs).

    “The SmartLV Gateway is a leap forward in empowering utility operators with critical, real-time insights and control over their low-voltage substations,” said Mathi Gurusamy, Chief Strategy Officer at Lantronix. “By utilizing Qualcomm Technologies’ AI technology, this solution helps to address today’s most pressing challenges at the edge of the smart grid.”

    AI at the Edge: Transforming Energy Management

    With growing demand for smarter and greener energy grids, the SmartLV Gateway empowers DSOs to anticipate and respond to real-time grid conditions, optimizing energy flow and ensuring stability even during peak loads. This AI-driven platform doesn’t just monitor; it enables intelligent energy steering and dynamic decision-making at the edge.

    “SmartLV exemplifies the fusion of AI and connectivity in tackling critical challenges within smart grids. Qualcomm® and Lantronix are enabling DSOs to have enhanced control and insights into the distribution network, transforming how energy is delivered and consumed and accelerating the grid transformation in Europe,” added Sebastiano Di Filippo, Senior Director of Business Development at Qualcomm Europe Inc.

    SmartLV Gateway key features include:

    • Multi-protocol communication: Seamlessly integrates with existing infrastructure via Ethernet, Serial, I/O and Industrial Protocol conversion suites, offering flexibility across legacy and modern systems.
    • High-speed connectivity: Future-resilient with LTE and 5G-ready high-speed cellular communication for reliable, low-latency operations.
    • Edge computing for real-time decisions: AI-enabled edge computing that powers low-latency analysis, enabling split-second decision-making directly at the substation.
    • Advanced cybersecurity: Fortified with Lantronix’s InfiniShield™ security framework to defend against cyber threats, ensuring uninterrupted operations.
    • Simplified management with Lantronix’s Percepxion™ IoT Edge Platform: Offers seamless management with global cellular plans, VPN security and an easy-to-use cloud platform to monitor and control deployments.
    • Energy Steering Automation: Provides automated, real-time control of DERs based on actual grid conditions to ensure efficient energy flow.  

    Innovation Fueled by a Long-Standing Collaboration

    The SmartLV Gateway is the latest innovation in a 15-year relationship, combining Qualcomm Technologies’ industry-leading AI and connectivity with Lantronix’s expertise in IoT solutions for industrial and smart grid applications.

    Availability

    The SmartLV Gateway is scheduled to launch in CY 2025, with some trials beginning at the end of CY 2024 for selected DSOs. For more information or to schedule a demo, visit Hall 5, MR10.

    About Lantronix   

    Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high-growth industries including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that address each layer of the IoT Stack. Lantronix’s leading-edge solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing. 

    For more information, visit the Lantronix website. 

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including, without limitation, statements related to the SmartLV AI-Enabled IoT Edge Compute Cellular Gateway for Qualcomm developers. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 9, 2024; as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. The forward-looking statements included in this release speak only as of the date hereof, and we do not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances. 

    © 2024 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners. 

    Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries
    Qualcomm is a trademark or registered trademark of Qualcomm Incorporated 

    Lantronix Media Contact:         
    Gail Kathryn Miller 
    Corporate Marketing & 
    Communications Manager 
    media@lantronix.com 
    949-212-0960 

    Lantronix Analyst and Investor Contact:         
    investors@lantronix.com

    The MIL Network –

  • MIL-OSI Asia-Pac: Government sets up Task Group on New Medical School

    Source: Hong Kong Government special administrative region

         The Government announced today (October 17) the establishment of the Task Group on New Medical School responsible for devising the direction and parameters for a new medical school. The Task Group intends to extend invitation of proposals within this year to local universities interested in establishing the new medical school, so as to select a suitable university for setting up the third medical school.
           
         The Chief Executive announced in his Policy Address 2024 that the Government supports the establishment of the third medical school by a local university, with a view to nurturing more talented medical practitioners in support of the local healthcare system to provide quality service, while at the same time driving Hong Kong’s development into an international medical training, research and innovation hub.

         The Secretary for Health, Professor Lo Chung-mau, said, “The establishment of the third medical school is an important project in developing medical education in Hong Kong to drive the pursuit of excellence in medical teaching and research in Hong Kong. Echoing the plan to develop Hong Kong into an international health and medical innovation hub, I hope that the new medical school could pursue an innovative strategic position complementarity with the two existing ones, in areas such as the medical curriculum, sources of students and research projects, with a view to promoting diversified development in local medical education and research as well as attracting more local, Mainland and overseas medical talent to take up teaching and research duties.

         “We attach significant importance to the establishment of the new medical school. To that end, we have in particular invited seasoned local, Mainland and overseas academics for medical teaching and university management, professionals, the President of the Hong Kong Academy of Medicine and the Chairman of the Medical Council of Hong Kong, together with relevant Directors of Bureaux and Heads of Departments of the Government, to form the Task Group on New Medical School. The Task Group will holistically examine various factors when considering proposals submitted by universities, including the strategic position of the medical school, curriculum design, student recruitment arrangement, demand and supply of teaching and training manpower, facilities, and financial resources required. I sincerely look forward to working closely with all members of the Task Group to start a new chapter for medical education in Hong Kong. Our first target is to extend invitation of proposals within this year to local universities interested in setting up the new medical school.”

         The terms of reference of the Task Group on New Medical School are as follows:
     

    To devise directions and parameters for the establishment of a new medical school with the aim of supporting the local healthcare system in providing quality medical services and fostering the development of Hong Kong as an international hub for medical training, research and innovation, and the criteria for assessing proposals for a new medical school from local universities.
    To liaise with interested local universities, invite and assess proposals from them for a new medical school, to handle related matters (including but not limited to funding arrangements, programme accreditation, teaching hospital and research support), and to formulate recommendations on the establishment of a new medical school and related arrangements for decision by the Chief Executive in Council; and
    To liaise with the university selected for the establishment of the new medical school on its implementation plan (including but not limited to funding arrangements, programme accreditation, teaching hospital and research support), and to provide facilitation on the interim and long-term arrangements for a designated school campus and teaching hospital in consultation with the relevant government bureaux/departments.

    　　
         The membership of the Task Group on New Medical School is as follows (see Annex for brief biographies of expert advisors of the Task Group):

    Co-chairmen
    ————
    Secretary for Education
    Secretary for Health

    Alternate Co-Chairmen
    ——————
    Permanent Secretary for Education / Under Secretary for Education
    Permanent Secretary for Health / Under Secretary for Health

    Expert Advisors
    ————
    Chairman of the Medical Council of Hong Kong
    President of the Hong Kong Academy of Medicine (or representative)
    Professor Nivritti Gajanan Patil
    Professor Joseph Sung Jao-yiu
    Professor Zhao Yupei
    Mr Philip Tsai Wing-chung

    Official Members
    ————
    Permanent Secretary for Development (Planning and Lands) (or representative)
    Permanent Secretary for Innovation, Technology and Industry (or representative)
    Secretary-General of the University Grants Committee (or representative)
    Director of Health (or representative)
    Chief Executive of the Hospital Authority (or representative)
    Deputy Secretary for Education (1)
    Deputy Secretary for Health 3
    Commissioner for Primary Healthcare (or representative)

    MIL OSI Asia Pacific News –

  • MIL-OSI Submissions: WHO – Despite health gains, urgent action needed to meet health-related Sustainable Development Goals in the Western Pacific Region

    SOURCE: World Health Organization (WHO)

    Manila, Philippines, 17 October 2024 – According to a new report released today, countries in the World Health Organization (WHO) Western Pacific Region experienced the smallest decline in life expectancy during the COVID-19 pandemic compared to other WHO regions. Life expectancy in the Western Pacific fell by only 0.07 years during 2020-21, a minimal drop compared to the global average decline of 1.7 years. The Western Pacific now has the highest life expectancy among WHO’s six regions, rising from 72.0 years in 2000 to 77.4 years in 2021.

    However, despite this progress, the Region – comprising 37 countries and areas across Asia and the Pacific – is still grappling with critical challenges and is off-track in achieving the health-related Sustainable Development Goals (SDGs). The SDGs are the global goals adopted by world leaders to end poverty and inequality, protect the planet and ensure that all people enjoy health, justice and prosperity by 2030. The new WHO report, Health statistics in the Western Pacific Region 2023: Monitoring health for the SDGs, highlights advancements made across the Region while also emphasizing the urgent need for action. The report shows that while the COVID-19 pandemic may have done less damage to life expectancy in the Western Pacific than other regions, it nevertheless exacerbated health inequalities and disrupted progress in other areas.

    Noncommunicable diseases on the rise

    While infectious diseases and injuries were previously major causes of illness and death in the Western Pacific, the Region is undergoing a significant epidemiological shift. Noncommunicable diseases (NCDs) like heart disease, stroke, diabetes and cancer now account for nearly nine in 10 deaths. While the probability of premature death from NCDs has declined in the Region by over 25% since 2000, major challenges remain. Moreover, the Region is experiencing rapid population ageing. There are now more than 245 million people aged 65 and older in the Region – a number that is projected to double by 2050. And many older people are living with NCDs.

    A major risk factor for NCDs is alcohol and tobacco use. Consumption of alcohol in the Region has risen by 40% since 2000. Despite a decline from 7.2 litres per capita per year in 2015 to 6.1 litres in 2019, the overall increase highlights an ongoing concern for public health. Similarly, although tobacco use declined from 28.0% of adults smoking in 2000 to 22.5% in 2022, this was still above the global average of 20.9%.

    Mental health issues are also taking their toll on the population, with alarmingly high suicide rates in some countries of the Western Pacific Region, influenced by factors such as stigma, limited access to mental health services and socioeconomic challenges.

    Climate- and environment-related health concerns are yet another major challenge. While air pollution in urban areas of the Region was found to have decreased from 2010 to 2019, air quality levels are still much worse than the WHO-recommended levels. Populations living in urban areas are therefore continuing to breathe unhealthy air.

    Mixed progress towards universal health coverage

    Universal health coverage (UHC) is another important SDG target for which the Western Pacific Region has had mixed progress. The UHC service coverage index measures access to essential health services such as reproductive, maternal, newborn and child care, and prevention and treatment services for both NCDs and infectious diseases. Over the past 20 years, the overall UHC service coverage index in the Western Pacific increased impressively, from 49 to 79 points out of 100 between 2000 and 2021. However, people’s ability to access health-care services varies greatly across the Region. In some countries, the UHC service coverage index score is as low as 30, meaning many people struggle to access basic health care, while in others, it exceeds 80, indicating a much higher level of service availability and coverage. Despite these advancements, progress has slowed and stagnated since the adoption of the SDGs in 2015, and particularly since 2019.

    Despite the growing burden of noncommunicable diseases, access to essential health services for NCDs did not improve significantly, increasing only slightly from 52 points in 2000 to 58 points in 2010. Even more troubling, there has been no further progress since 2010, and access to services remains low, particularly in Pacific island countries and areas.

    In contrast, access to services for infectious diseases improved significantly, rising from just 18 points in 2000 to 82 points in 2021. Immunization coverage for the WHO-recommended three doses against diphtheria, tetanus and pertussis, or DTP3, showed mixed results from 2000 to 2023: coverage increased in 15 countries, while four countries experienced no change and eight saw a decrease.

    In the Western Pacific Region, average health spending has increased substantially, tripling from around US$ 383 per person in 2000 to US$ 1336 in 2021. On average, health spending accounted for 6.6% of gross domestic product (GDP) at country level in 2000, and rose to 8.2% by 2021. However, despite efforts to increase public spending for health, the proportion of people in the Western Pacific experiencing catastrophic health expenditure − defined as spending more than 10% of their income on health-care − has nevertheless doubled, rising from 9.9% in 2000 to 19.8% in 2019.

    Critical action needed to achieve SDGs

    “While we celebrate the significant health gains that the Western Pacific Region has achieved, we must also acknowledge urgent challenges in sustaining progress,” said Dr Saia Ma’u Piukala, WHO Regional Director for the Western Pacific. “We are living longer than ever, and more than any other region of the world, but this isn’t enough. We’re off-track to meet many of the SDG targets, and the COVID-19 pandemic exacerbated health disparities. Now is the time for concerted action to address these issues. We look forward to working with health leaders from across the Region next week to finalize our new vision to weave health for families, communities and societies.”

    New vision for health in the Region

    Ministers of health and other senior officials are preparing for discussions at the seventy-fifth session of the WHO Regional Committee for the Western Pacific in Manila on 21−25 October 2024. The meeting will focus on the most pressing health needs in the Region and chart a course to address them.

    Weaving health for families, communities and societies in the Western Pacific Region (2025-2029): Working together to improve health, well-being and save lives is the proposed new vision for the Region. The vision centres on the analogy of weaving a mat – a traditional activity across Asia and the Pacific – symbolizing the collaborative efforts required by WHO, governments and partners to improve population health and well-being. The vision centres on five vertical strands of action led by governments interwoven with three horizontal strands of action by WHO.

    The five vertical strands of action led by governments, working with WHO and other stakeholders include:

    Transformative primary health care for UHC
    Climate-resilient health systems
    Resilient communities, societies and systems for health security
    Healthier people throughout the life course
    Technology and innovation for future health equity.

    The three horizontal strands of action by WHO are:

    Country offices equipped with skills for scaling up and innovation
    Nimble support teams in the Regional Office
    Effective communication for public health.

    These strands reflect the reality that the Western Pacific Region faces complex health challenges that cannot be addressed by the health sector alone. Achieving the goals of SDG 3 − Good health and well-being – will require a concerted effort from multiple sectors. Social determinants of health, including education, housing, employment, social protection, gender equality and the environment, significantly impact health outcomes. Therefore, collaboration between the health, education, urban planning, agriculture and environmental sectors, to name but a few, is crucial. Collaboration can create synergies and co-benefits for all these sectors while accelerating progress towards achieving SDG 3.

    “The commitment of governments, WHO and partners to achieving the Sustainable Development Goals by 2030 is a commitment to health and well-being for all,” added Dr Piukala. “We must work together to ensure that no one is left behind as we weave a healthier future.”

    In addition to the vision, the Regional Committee will also consider new regional action frameworks on digital health and on health financing to achieve UHC and sustainable development. There will be panel discussions on climate-resilient health-care facilities, transformative primary health care and oral health, as well as a special event on the Investment Round to resource WHO’s work for 2025–2028.

    Notes:

    The seventy-fifth session of the Western Pacific Regional Committee will run from Monday, 21 October through Friday, 25 October, at the WHO Regional Office for the Western Pacific in Manila, Philippines. The Agenda and timetable are available online. A livestream of proceedings, all other official documents, as well as fact sheets and videos on the issues to be addressed can be accessed here. For real-time updates, follow @WHOWPRO on Facebook, X, Instagram and YouTube and the hashtag #RCM75.

    Working with 194 Member States across six regions, WHO is the United Nations specialized agency responsible for public health. Each WHO region has its regional committee – a governing body composed of ministers of health and senior officials from Member States. Each regional committee meets annually to agree on health actions and to chart priorities for WHO’s work.

    The WHO Western Pacific Region is home to more than 1.9 billion people across 37 countries and areas: American Samoa (United States of America), Australia, Brunei Darussalam, Cambodia, China, Cook Islands, Fiji, French Polynesia (France), Guam (United States of America), Hong Kong SAR (China), Japan, Kiribati, the Lao People’s Democratic Republic, Macao SAR (China), Malaysia, the Marshall Islands, the Federated States of Micronesia, Mongolia, Nauru, New Caledonia (France), New Zealand, Niue, the Commonwealth of the Northern Mariana Islands (United States of America), Palau, Papua New Guinea, the Philippines, Pitcairn Islands (United Kingdom of Great Britain and Northern Ireland), the Republic of Korea, Samoa, Singapore, Solomon Islands, Tokelau, Tonga, Tuvalu, Vanuatu and Viet Nam, Wallis and Futuna (France).

    Related links:

    Health statistics in the Western Pacific Region 2023: Monitoring health for the SDGs
    Draft vision Weaving health for families, communities and societies in the Western Pacific Region (2025−2029): Working together to improve health and well-being and save lives
    WHO data on progress towards universal health coverage (UHC)
    Other WHO data which can be searched by country.

    MIL OSI – Submitted News –

  • MIL-OSI Asia-Pac: The Presidential Office will resume weekday and designated holiday open house tours beginning October 19, 2024. We welcome all visitors. For detailed information, please see the announcements on our official website.

    Source: Republic of China Taiwan

    The Presidential Office will resume weekday and designated holiday open house tours beginning October 19, 2024. We welcome all visitors. For detailed information, please see the announcements on our official website.

    To the central content area

    Code Ver.:201710241546 & 201710241546.cs

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Result of the Overnight Variable Rate Reverse Repo (VRRR) auction held on October 17, 2024

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 75,000
    Total amount of offers received (in ₹ crore) 40,385
    Amount accepted (in ₹ crore) 40,385
    Cut off Rate (%) 6.49
    Weighted Average Rate (%) 6.49
    Partial Acceptance Percentage of offers received at cut off rate NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1316

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Grave of lost World War Two soldier located in Italy

    Source: United Kingdom – Executive Government & Departments

    The grave of a Royal Tank Regiment soldier who lost his life in Italy during World War Two has been identified 81 years after his death.

    Padre David Anderson leads the service for Tpr Stobart (Crown Copyright)

    The rededication service for Trooper (Tpr) Frederick Stobart was organised by the MOD’s Joint Casualty and Compassionate Centre (JCCC), also known as the ‘War Detectives’. 

    The service was held at the Commonwealth War Graves Commission’s (CWGC) Bolsena War Cemetery in Italy this afternoon (16 October). 

    Frederick Stobart was born in Sunderland in 1916. He lived with his maternal grandparents for some of his childhood, but no records exist to tell us about his young life or schooling.  

    He joined the Army in 1935, listing his previous occupation as a steel grinder. He served at home, and in India during the years immediately before war broke out in 1939, and then joined the British Expeditionary Force in May 1940. By August 1940 he was in the Middle East, and he remained there until June 1943, when he was sent to take part in the invasion of Italy. He appears to have been captured around Tobruk in North Africa in late June 1943 and to have become a prisoner of the Italians at Camp 54 at Fara in Sabina, in the Lazio region of Italy.   

    In September 1943 when Italy capitulated, many prisoners found themselves without guards and took the opportunity to escape, Stobart was one of these. He travelled north, with fellow escapee, Pte Robert Quinn of the Durham Light Infantry, into the hills where they relied on local people for help. Unfortunately, their freedom was short-lived, and they were recaptured by the Germans within a few days.  According to contemporary reports, both men were shot whilst trying to escape from a transport taking them to a new camp. Quinn was hospitalised but Stobart died.  

    Stobart was buried in a civilian cemetery at Monte Libretto by two German soldiers, a local policeman and four other prisoners. The notes recorded on the grave register show that there were no documents or means of identifying the body, and that the other prisoners burying him did not seem to know him. After the war Stobart’s remains were recovered and moved to the war cemetery at Bolsena where he was buried as an unknown casualty of the 1939 – 45 war, with a date of death in September 1943. 

    Recently an independent researcher submitted evidence to the CWGC hoping to have located the final resting place of Tpr Stobart. The research included excerpts from a Red Cross interview with Stobart’s fellow escapee Pte Quinn which was conducted whilst he was a POW in hospital. Quinn had described the escape and what had happened to his Stobart, without naming him. It was his testimony along with other supporting documents which were crucial in proving this case. The researcher’s evidence was reviewed and extra work conducted by the National Army Museum and  JCCC which concluded that now, 80 years after his death, it is possible to clearly identify where Tpr Stobart is buried. 

    The military party, representatives of the CWGC, and the researcher who submitted the original identification case for Tpr Stobart, stand behind his headstone (Crown Copyright)

    JCCC Caseworker, Alexia Clark, said: 

    It has been a privilege for me to have been involved in restoring Tpr Stobart’s name to him,  and to have organised the service of rededication for him today. I am grateful to the researcher who submitted the original evidence and thus started this process off, and to Tpr Stobart’s military family for attending today to honour his sacrifice. 

    Director for Central and Southern Europe at the CWGC, Geert Bekaert, said:  

    We are honoured to now be able to commemorate, by name, Trooper Stobart. It is a privilege to care for his grave and all those that lie here at Bolsena War Cemetery, in perpetuity.

    Updates to this page

    Published 17 October 2024

    MIL OSI United Kingdom –

  • MIL-OSI Africa: Cross-examining cybercrime: GITEX GLOBAL 2024 sheds light on the innovation-igniting conundrum challenging industries worldwide

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

    DUBAI, United Arab Emirates, October 17, 2024/APO Group/ —

    • “Cybersecurity Day” marks GITEX GLOBAL’s halfway stage as enlightening agenda reveals the challenges, threats and opportunities for international tech community
    • “AI is changing the game” – H.E. Dr. Mohamed Al Kuwaiti, Head of Cybersecurity for the UAE Government​

    After an action-packed two days where GITEX GLOBAL 2024 (www.GITEX.com) presented exhilarating events and exhibitions across technology’s new frontiers, Wednesday witnessed another incredible programme as audiences examined the existing and future cybersecurity landscapes with the world’s foremost experts. 

    Taking place from 14-18 October at Dubai World Trade Centre (DWTC), GITEX GLOBAL is the world’s largest and best-rated tech event. It presents a record-breaking 44th edition in 2024 – welcoming over 6,500 exhibitors, 1,800 startups, 1,200 investors alongside governments from more than 180 countries.

    As GITEX GLOBAL’s biggest-ever international edition reached the halfway stage, “Cybersecurity Day” headlined the Wednesday schedule. An enlightening series of keynote speeches, fireside chats, and specialist panels cast a unique spotlight on the urgent challenges, emerging threats, and innovative opportunities facing individuals, enterprises, industries, and nations worldwide.

    Cross-examining the cybercrime conundrum

    With global cybercrime damaged projected to reach $10.5 trillion annually by 2025, the international tech community is determined to ignite a paradigm shift through reinvigorated determination. This universal attitude was on full display at GITEX GLOBAL as top CISOs, CIOs, and GRC leaders converged with a unified mission: establish the foremost line of defence globally.

    In 2024, finance industry AI-driven fraud has surged by 40%, posing unprecedented challenges for incumbents. One of Wednesday’s must-attend conference sessions – ‘AI-Driven Digital Fraud: Safeguarding the Finance Industry’s Future’ – examined how emerging technologies are being harnessed to overcome the evolving threat.  

    H.E. Dr. Mohamed Al Kuwaiti, Head of Cybersecurity for the UAE Government, revealed that the country has dispelled millions of threats this year alone while endorsing AI as a “gamechanger” in leading the industry’s cyber resurgence. He said to GITEX Tech Waves Podcast (https://apo-opa.co/3Y8w33V): “Cyber awareness is crucial – and AI is changing the game. The UAE is a financial hub that faced 71 million attacks in Q1 2024. We are resilient and thwarted these with early threat detection through AI. It’s a hugely beneficial technology alongside our great partnerships with the world.”

    Todd Conklin also weighed in on the positive impact of AI. While acknowledging the potential repercussions of AI’s power when utilised by malicious actors, the Chief AI Officer & Deputy Assistant Secretary, Cybersecurity & Critical Infrastructure Protection at the US Department of the Treasury, added: “The US Treasury runs the largest payments ecosystem in the entire world. We’ve leveraged AI models to reduce fraud by almost $600 million in the last six months. It’s becoming increasingly critical in the counter-fraud space.”

    Unveiling a new world of limitless possibilities and potential

    In a week where 88% of exhibiting startups are GITEX GLOBAL debutants and no fewer than 230 new partnerships have been finalised between local, regional, and international entities and enterprises, the event is again fulfilling its pledge as a global cooperation and collaboration catalyst. Heading into Wednesday, over 13,000 pre-arranged concierge meetings had already taken place across GITEX GLOBAL and Expand North Star – the world’s largest startup and investment event – with many more a certainty as companies exhibit transformative solutions that could change the world.

    Huawei shed light on its critical infrastructure and cloud tech solutions with Dr. Aloysius Cheang, Chief Security Officer for the Middle East & Central Asia at Huawei, revealing the staggering rate of cyber attacks worldwide. While calling on enterprises to ensure stringent security postures, he said: “Huawei is attacked 12 billion times a day on average. This is why cybersecurity is positioned as a very strategic asset within our company. Organisations must build a cybersecurity culture through a security-first, privacy-first approach – and their solutions must serve their purpose of protecting digital assets.”

    Cybersecurity and anti-virus provider Kaspersky also showcased its pioneering Cyber Immunity approach and advanced threat intelligence solutions on Wednesday as US cyber firm Fortinet highlighted products and services part of its cybersecurity platform portfolio. solutions by stc also introduced visitors to the emerging technologies utilised to deliver new value to customers.

    Elsewhere on day three at GITEX Global 2024, a host of activations, showcases, and conferences took place at GITEX Cyber Valley (https://apo-opa.co/4eDbPq1), this year’s most anticipated cybersecurity exhibition and programme hosted by the UAE Cyber Security Council. An unmissable session saw audiences hear from Brett Johnson – once America’s Most Wanted, now a leading global cybercrime and identity theft expert. During ‘Scamming the scammer: Inside the Mind of a Cybercriminal’, he revealed the extent of the virtual underworld while sharing his life story.

    Live Hacks also headlined the GITEX Cyber Valley’s Dark Stage as ethical hackers showcased live demonstrations on AI-powered hacks. Visitors also got exclusive insights from Santiago Lopez, the world’s first million-dollar hacker, on how to turn hacking skills into a lucrative career during another special session – ‘Face to Face with 1# Million Dollar Hacker: Who wants to be a hacking millionaire?’.

    What next at GITEX GLOBAL 2024?

    GITEX GLOBAL 2024 continues Thursday as “Data Centres Universe” welcomes an ensemble cast of thought leaders and experts to discuss the future of data management and infrastructure. Sessions throughout the day’s schedule will explore the latest data technology and sustainable energy solutions alongside data centres’ pivotal role in supporting the exponential growth of digital services.

    Future Mobility (https://apo-opa.co/3Yctvlv) will explore the shifting paradigms of the global auto tech industry with the World Future Economy Digital Leaders Summit (https://apo-opa.co/3YcBoai) and Global DevSlam (https://GlobalDevSlam.com) among the many day four highlights.

    More information on GITEX GLOBAL, please visit http://www.GITEX.com

    MIL OSI Africa –

  • MIL-OSI Europe: Pål Jonson attends NATO defence ministers meeting in Brussels

    Source: Government of Sweden

    Pål Jonson attends NATO defence ministers meeting in Brussels – Government.se

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    Press release from Ministry of Defence

    Published

    On 17–18 October, Sweden’s Minister for Defence Pål Jonson will meet with his colleagues from other NATO member countries in Brussels. Part of the meeting will also be attended for the first time by the defence ministers of Australia, Japan, South Korea and New Zealand – NATO’s partners known as the Indo-Pacific Four (IP4).

    The agenda includes discussions on continuing and deepening NATO’s cooperation with the IP4.

    At the meeting in Brussels, the NATO defence ministers will also discuss deeper cooperation between NATO and the EU, and reinforcements of NATO’s deterrence and defence capabilities.

    They will also discuss continued support to Ukraine and the support being provided to Russia by Iran, China and North Korea.

    This is the first NATO ministerial meeting led by new Secretary General Mark Rutte. 

    Press contact

    More about the Meeting of NATO Defence Ministers on 17–18 October

    More information about the Meeting of Defence Ministers on 17–18 October is available on the NATO website. Images and video material from the meeting will also be published on the website as they become available.

    About the North Atlantic Council (NAC)

    The North Atlantic Council (NAC) is the principal political decision-making body within NATO. For the NAC’s day-to-day work, member countries are represented by their NATO Ambassadors.

    The NAC meets a number of times a year at the levels of defence ministers, foreign ministers and heads of state and government. Normally, one NATO summit, two meetings of NATO Ministers of Foreign Affairs and three meetings of NATO Defence Ministers are held each year. The NATO Secretary General chairs the NAC.

    About Sweden in NATO

    MIL OSI Europe News –

  • MIL-OSI China: Central China’s Henan to host Intl Shaolin Wushu Festival

    Source: China State Council Information Office 3

    The 13th Zhengzhou International Shaolin Wushu Festival will take place Oct. 17-22 in Zhengzhou, the capital of central China’s Henan province.

    Organized by the Henan provincial government and co-hosted by the province’s sports administration and Zhengzhou city government, the event aims to promote Shaolin Wushu culture and foster international exchanges.

    Opening ceremony of the previous Zhengzhou International Shaolin Wushu Festival. [File photo by Li Bo/ Xinhua News]

    The festival will feature traditional Shaolin Wushu competitions and the Wushu Duanwei Evaluation for Overseas Personnel, alongside new events, including a collective kung fu performance, an international fight competition, a U.S.-China youth training camp, a kung fu adventure, and a Cambodian-Chinese boxing showcase.

    Zhao Xuedong, deputy secretary-general of the Henan provincial government, said 2,560 athletes from 56 countries and regions have signed up for the festival. The event will host Wushu exchanges between China and the U.S., as well as China and Cambodia. Officials from the International Wushu Federation, the Intangible Cultural Heritage Fund, resident ambassadors and international guests will attend related activities.

    The festival will build a bridge for cultural integration and mutual learning between China and foreign countries, as well as strengthen exchanges and cooperation among Belt and Road countries, according to Zhao.

    The festival adheres to the principle of “meeting friends through Shaolin Wushu and progressing together.” Competitions will include designated routines, nationally recognized martial arts routines and various styles and forms.

    Organizers aim to nurture Shaolin Wushu and expand its cultural impact. They will arrange visits to cultural tourism projects during the festival to promote the integration of culture, tourism and sports in Henan.

    Zhao Hengkang, deputy secretary-general of the Henan provincial government, said the six-day festival includes five categories, six major events and 315 sub-events, with participants ranging from 4 to 82 years old.

    The opening ceremony will feature 30,000 young martial artists showcasing Shaolin Wushu along a 13-kilometer route from the Shaolin Temple on Mount Song to the opening venue. Audiences worldwide can enjoy this cultural feast through television and online broadcasts.

    MIL OSI China News –