NewzIntel.com

Category: Asia

  • MIL-OSI United Nations: Secretary-General’s remarks to the Virtual High-Level Segment of the 16th Petersberg Climate Dialogue [as delivered]

    Source: United Nations secretary general

    Thank you for this opportunity — and for your focus today on collective climate action and acceleration of implementation. 

    This could not be more timely. 

    There is much uncertainty and instability in our world.

    But today we meet in the wake of some good news.

    Just this morning, the International Renewable Energy Agency officially confirmed that 2024 was a record year for renewables additions to global power capacity. 

    Renewables represented more than 92 per cent of all new electricity generation capacity installed last year.
     
    The amount of renewables added represents more than the total electricity capacity of Brazil and Japan combined.

    Europe’s capacity grew by 9 per cent – with Germany contributing more than one-quarter of that growth. Africa’s capacity grew by almost 7 per cent.

    All of this is another reminder of a 21st century truth:

    Renewables are renewing economies. 

    They are powering growth, creating jobs, lowering energy bills, and cleaning our air. 
     
    And every day, they become an even smarter investment. 

    Since 2010, the average cost of wind power has plunged 60%.  Solar is 90% cheaper. 

    In 2023, clean energy sectors accounted for five per cent of economic growth in India and six in the US. It accounted for a fifth of China’s GDP growth, and a third of the EU’s.

    The economic case for – and opportunities of – climate action have become ever clearer – particularly for those who choose to lead. 

    And leadership is what we need – as today’s IRENA report shows:

    To accelerate the shift to renewables…

    And to correct the imbalances in the transition, which is still starving developing countries – outside China – of the investment needed to fully embrace clean energy. 

    Excellencies, dear friends,

    As the title of this session puts it so well: we are indeed at a turning point to the future.

    In the ten years since Paris, we have seen other important progress.

    Ninety percent of global emissions are now covered by net-zero targets. 

    A decade ago, the planet was on course for a global temperature rise of over four degrees Celsius.

    Today, countries’ national climate plans – or NDCs – if fully delivered – will take us closer to a 2.6-degree rise.

    At the same time, climate challenges are piling up.  

    It seems records are shattered at every turn — the hottest day of the hottest month of the hottest year of the hottest decade ever. 

    All of this is hitting the vulnerable hardest, and everyday people in their pockets – with higher living costs, higher insurance premiums, and higher food prices.

    Just last week, the World Meteorological Organization confirmed that 2024 was another alarming year:

    Almost every climate indicator reached new and increasingly dangerous heights – inflaming displacement and food insecurity and inflicting huge economic losses.

    And, for the first time, the annual global temperature was 1.5 degrees Celsius hotter than pre-industrial times.

    Scientists are clear – it is still possible to meet the long-term 1.5 degree limit.

    But it requires urgent action. And it requires leadership.

    Excellencies, dear friends,

    I see two critical fronts to drive action. 

    First, new national climate plans – or NDCs – due by September.

    Investors need certainty and predictability.

    These new plans are a unique opportunity to deliver – and lay out a coherent vision for a just green transition.

    They must align with the 1.5-degree limit, as agreed at COP28. And cover all emissions and the whole economy.

    Together, they must reduce global emissions 60% by 2035 – compared to 2019…

    And contribute to the COP28 global energy transition goals.

    All this must be achieved in line with the principle of common but differentiated responsibilities and respective capabilities, in the light of national circumstances but everybody, everybody must do more.

    The G20 – the largest emitters and economies – must lead.

    Every country must step up and play their part.

    The United Nations is with you all.

    President Lula and I are working to secure the highest ambition from the largest economies.

    The United Nations Climate Promise is supporting a hundred countries to prepare their new climate plans.

    And we will convene a special event in September to take stock of the plans of all countries, push for action to keep 1.5 within reach, and deliver climate justice.

    Second, we must drive finance to developing countries.

    The COP29 finance agreement must be implemented in full.

    I count on the leadership of the COP29 and COP30 Presidencies to deliver a credible roadmap to mobilize $1.3 trillion a year by 2035.

    We need new and innovative sources of financing, and credible carbon pricing.

    Developed countries must honour their promise to double adaptation finance to at least $40 billion a year, by this year.

    And we need serious contributions to the fund for responding to Loss and Damage, and to get it up and running.
    Excellencies,

    We can only meet these goals with stronger collaboration – between governments, and across society and sectors.

    Those that will lag behind need to be not a reason for us to be discouraged but an increase in our commitment to move forward.

    The rewards are there for the taking, for all those ready and willing to lead the world through these troubled times.

    We are at a turning point.  I urge you to seize this moment; and seize the prize.

    Thank you.
     

    MIL OSI United Nations News –

  • MIL-OSI Russia: Financial News: Interview with Ekaterina Abasheeva for RBC Investments

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    Rating agencies will assign stars to shares of Russian companies.

    RBC Investments discussed with Ekaterina Abasheeva, head of the Central Bank’s corporate relations department, topics that are of greatest interest to private investors: stock ratings and disclosure of information during an IPO.

    Over the past year, the Bank of Russia has launched several large-scale reforms aimed at increasing the transparency of the Russian market.

    Stock Ratings: Russian Analogue of Morningstar

    There are currently two major problems: a lack of quality analytics on companies, as well as the unavailability of information on a number of issuers. In these conditions, a discussion arose about creating stock ratings – a product that, on the one hand, would allow us to tell more about the issuer, and on the other, to identify a range of attractive stocks, noted Abasheeva.

    “In the summer of 2025, we plan to launch a pilot project of non-credit ratings of shares of Russian issuers, which is expected to reach full capacity in 2026. The idea is that rating agencies will act as a kind of provider of independent assessments of the fair value of the issuer. It will be determined on the basis of both financial and non-financial metrics. Ideally, over time, the market price should converge with the expert assessment. The rating of shares will be the Russian analogue of the Morningstar project, which has been offering a similar rating product in North America, Europe and Asia for over 30 years. Agencies will assign stars to shares and accompany the ratings with advanced analytics. Thus, investors will receive a transparent and professional guideline on the basis of which they will be able to make investment decisions,” the head of the department explains the idea.

    Who will be giving grades?

    At the stage of developing the idea of stock ratings, the Bank of Russia considered various options for who would evaluate issuers. “There was an idea to create a new participant in the market that would provide an analytical service. However, it seemed more expensive to us, since it requires the development of new regulations,” says Abasheeva.

    An alternative approach is to use the ready-made infrastructure of rating agencies, since they already have experience in the securities market and have proven themselves as independent experts who have earned the trust of issuers and investors. The head of the department notes that the Central Bank held a series of meetings with agencies, where they discussed all the pros and cons: why they can offer a new product.

    “We were worried about the discrepancy between the expert assessment and the actual value of the rated entity. And of course, disputes arose over what responsibility the agencies would bear,” she continues. “It seems that the combination of independence, competence and responsibility of the agencies is best suited for the assessment of equity instruments. Now that all the discussions are behind us, the rating agencies have begun to develop methodologies for a new category of ratings. We intend to pilot the project on their basis.”

    It is planned that one issuer will be able to receive several ratings from different rating agencies: “Stocks are a very volatile and poorly predictable instrument. Obviously, the dispersion of opinions here, it seems to me, is more important than in relation to bonds, where the ratings are more homogeneous. Therefore, of course, we ideally expected that there would be at least two opinions on stocks from different rating agencies.”

    If the agencies’ assessments differ dramatically and send conflicting signals to investors, this could prompt the Central Bank to consider minimum requirements for analysts – their methodologies and the information they use, she adds. However, this will become clear after preliminary testing of the ratings on the initial pool of issuers. Key parameters for assessing companies

    According to Ekaterina Abasheeva, at least two rating agencies have already developed and presented their methodologies to issuers and professional analysts. They are based on the model fair value of the issuer, she notes, but other factors that distinguish shares from debt instruments are also taken into account.

    This primarily concerns non-financial factors. This is the quality of corporate management, as well as the protection of investors’ interests. In addition, rating agencies will be required to pay attention to the issuer’s information sensitive to foreign sanctions, says the department director.

    The final set of parameters may include more factors, since the regulator does not plan to set strict requirements for methodologies at the pilot stage of the project, adds Abasheeva. “The criteria for the quality of corporate governance can take into account possible violations of the law by the issuer and complaints from shareholders,” she gives examples. Shares will have stars

    In the matter of how to display ratings, the Bank of Russia, together with rating agencies, did not reinvent the wheel and followed the path of the existing rating system. Star ratings are widely used to evaluate not only financial products, but also restaurants, hotels and films, notes Ekaterina Abasheeva. At the same time, the disclosure of the symbolic assessment will be accompanied by the publication of a full investment report, as well as a press release as its shortened version, she adds.

    “The combination of the rating and the report, on the one hand, will allow the investor to quickly navigate the information about the issuer. On the other hand, having analytical support, it is possible to better understand what caused the assignment of a particular rating,” explains the head of the department.

    The Central Bank plans to update the stock rating more frequently than bonds, since stocks are more volatile. However, the regulator believes that the main thing here is not to overdo it, and proposes to tie the publication of updated ratings to the release of IFRS reporting – this is approximately once every six months.

    When will the first stock ratings appear?

    Considering that the working version of the rating agencies’ methodologies has already been prepared, the launch of ratings in pilot mode with the participation of the first issuers is expected in the summer, Abasheeva shares her plans. “We expect the first test assessments based on the methodologies prepared by the agencies to appear in 2025, and in 2026 we plan to analyze the experience gained and understand how we can move forward with the development of the new product,” she predicts. Will ratings be mandatory for companies?

    Abasheeva says that issuers have responded positively to the idea of stock ratings, and some of them have expressed a desire to participate in the pilot project.

    The department director emphasized that the Central Bank assumes that in the near future the presence of a stock rating will become mandatory for a certain type of company. This primarily concerns issuers that do not disclose information due to sanctions risks. “We consider them as potential subjects of regulation. It is important that the rating indirectly tells about the company what it cannot tell about itself due to sanctions problems. But this will definitely not happen at the start, but when we understand that the product has become operational,” she explained.

    A small group of companies will participate in the pilot in 2025. By the end of the year, rating agencies have agreed to test stock ratings free of charge, says Abasheeva.

    According to the regulator, the issuers that demonstrate the best practices in information disclosure and corporate governance will be primarily interested in the stock ratings. For them, the Bank of Russia, together with the Moscow Exchange, has launched a program to increase shareholder value. “Participation in the program will allow investors and shareholders to form an idea of the issuer’s current business, expectations for the stock price and dividend payments. The rating will serve as expert confirmation of the investment attractiveness of the companies,” she explains.

    Transparency of issuers during IPOs

    The second important reform initiated by the Bank of Russia is aimed at increasing the transparency of the IPO procedure. At the end of January 2025, the regulator presented a report for public consultations “Information Transparency in the Securities Market: Issuers and Conditions for the Initial Public Offering of Their Shares”. The document included proposals to improve the information quality of placements, change the content of information disclosed by issuers and adapt it to the needs of retail investors.

    Over the course of a month, the regulator met with market participants to collect feedback and discuss proposals. According to Ekaterina Abasheeva, the most sensitive and controversial proposals were the proposals to include forecast indicators in the issue prospectus, the presence of two reports from independent analysts when a company goes public, and the definition of the role and responsibility of placement organizers. In the rest of the proposals in the advisory report, the Central Bank received support from investors, issuers, and placement organizers, she added.

    Forecast indicators

    The Bank of Russia believes that if a company publicly broadcasts forecasted performance indicators in its IPO marketing materials, they must correspond to what is disclosed in the securities prospectus, notes Abasheeva. According to her, companies can now describe the “best prospects” for their development in advertising materials. The investor has no choice but to focus on them, since there are simply no others. “We want to change the situation. It is important that the forecast indicators disclosed by issuers reflect reality – you can’t highlight only the good and hide under the carpet what is not in the issuer’s favor,” explained Ekaterina Abasheeva.

    The minimum set of forecast data in the prospectus may include revenue, net profit or loss, net profit per share, and return on equity. Issuers may provide all figures in the range mode, the width of which may be set by the regulator, Abasheva added.

    In addition to the range, the forecast horizon is important. The Central Bank knows of cases where the issuer in advertising brochures indicated potential growth of 40%, 100% – but it is unclear on what time horizon. Therefore, the Bank of Russia proposes to make the forecast horizon mandatory for at least one year, but issuers can choose a longer period.

    At the same time, responsibility for forecasts does not go away, Abasheeva emphasizes. “If you include deliberately false information in the prospectus, intentionally mislead investors, then you must be aware of your responsibility for this,” she explained. Analytical reports from professionals

    According to Ekaterina Abasheeva, this point caused some concerns among market participants. The main argument against independent assessment was that there are not enough analysts on the market now who can cover the IPO market, she says. However, from the regulator’s point of view, it is a question of chicken and egg: if there is demand for analytical reports, there will be analysts.

    Market participants also see a possible conflict of interest among analysts, when issuers will choose those who are guaranteed to “draw” them beautiful reports. To this, Abasheeva responded that the Bank of Russia has well-established mechanisms for working with the known problem: “A conflict of interest is a topic that is clear how to work with, because otherwise we would not have audit services or ratings for the same bonds. We do not see any problems here,” she notes.

    According to her, independence can be defined as the absence of other commercial interests of the person providing analytical services. Currently, the organizers of placements simultaneously evaluate the issuer and offer its shares to their clients when providing brokerage services, and acquire them for their portfolio.

    Allocation disclosure requirement may become mandatory

    In May 2024, the Central Bank tried to “spur” issuers and placement organizers to be open by sending an information letter. In the document, the regulator proposed that companies disclose their approaches to distributing shares among different categories of investors before the IPO, and then publish information on the actual distribution of shares among buyers.

    However, the information letter was advisory in nature and not all issuers heeded it. Currently, the Bank of Russia is considering the possibility of transferring the recommendations to the mandatory level, noted Abasheeva.

    “We are now proposing to make it mandatory to disclose information about both the proposed allocation and the actual distribution of shares,” said Abasheeva.

    It is planned that the Bank of Russia will present the results of the discussion of the report in the summer of this year and will determine the standards that will become mandatory for IPO candidates.

    Gleb Kukharchuk, Dmitry Polyansky, “RBC Investments”

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

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

    HTTPS: //VVV.KBR.ru/Press/Event/? ID = 23488

    MIL OSI Russia News –

  • MIL-OSI China: Press conference of BFA Int’l Science, Tech & Innovation Forum held in Hainan

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

    Press conference of BFA Int’l Science, Tech & Innovation Forum held in Hainan

    Updated: March 26, 2025 20:41 Xinhua
    A press conference of the Boao Forum for Asia (BFA) International Science, Technology & Innovation Forum 2025 Hong Kong Conference is held in Boao, south China’s Hainan Province on March 25, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI USA: An Interview with Foreign Law Intern at the Law Library of Congress, Yu-Chen Tsai

    Source: US Global Legal Monitor

    Today’s interview is with Yu-Chen Tsai, a foreign law intern working with Foreign Law Specialist Laney Zhang in the Global Legal Research Center of the Law Library of Congress.

    Describe your background.

    I was born and raised in Tainan, a city in southern Taiwan known for its rich history and delicious street food. With my father being from the Philippines, I grew up in a multicultural environment.

    What is your academic/ professional history?

    I started my legal career in a rather unconventional way. My first formal employment was as an Institutional Review Board (“IRB”) coordinator at a hospital, where I was responsible for formulating a new human subject protection plan for all research involving human participants conducted at the institution. After leaving my position as an IRB coordinator, I continued to serve as an IRB member.

    Seeking broader legal experience from different perspectives, I worked as an in-house counsel in two distinct industries—human resources and manufacturing. In these roles, I conducted contract analyses, assessed the pros and cons of various agreements, and provided senior management with legal advice to support their decision-making processes.

    I hold a bachelor’s degree in law from Soochow University. Following that, I pursued a master’s degree at the College of Law at National Yang Ming Chiao Tung University, where my dissertation focused on the importance of information disclosure regarding adverse drug events during litigation. I recently completed a Master of Laws (LL.M.) program at Columbia Law School in New York and passed the New York bar in 2024.

    How would you describe your job to other people?

    As a foreign law intern at the Global Legal Research Center of the Law Library of Congress, I conduct in-depth legal research and draft memoranda on the legal jurisdictions of China, Hong Kong, Macau, Taiwan, and Singapore in response to Congressional and public inquiries. Additionally, I assist in drafting articles on Taiwan’s legal developments for the Global Legal Monitor.

    Why did you want to work at the Law Library of Congress?

    About 10 years ago, I had the opportunity to visit the Law Library of Congress with my current supervisor, Laney Zhang, as my guide. I told myself then that I would return one day. And here I am. It is truly a blessing to have the opportunity to work and learn alongside so many talented legal experts from different countries and to contribute by sharing legal developments from Taiwan.

    What is the most interesting fact you have learned about the Law Library of Congress?

    I was amazed to learn that there are tunnels beneath the Library of Congress that connect its three buildings, as well as some congressional buildings. I always get lost in this underground maze.

    What’s something most of your co-workers do not know about you?

    I love birds and have nine parrots back home. I also have a passion for flower arrangements and previously ran a small online store in Taiwan.

    Subscribe to In Custodia Legis – it’s free! – to receive interesting posts drawn from the Law Library of Congress’s vast collections and our staff’s expertise in U.S., foreign, and international law.

    MIL OSI USA News –

  • MIL-OSI Economics: Meet your AI Beauty Counselor: K-beauty giant Amorepacific builds an AI app for personalized advice

    Source: Microsoft

    Headline: Meet your AI Beauty Counselor: K-beauty giant Amorepacific builds an AI app for personalized advice

    Traditionally, salespeople at department stores or door-to-door have fulfilled that role. But these experts are scarce online. While beauty influencers abound, they usually promote specific products rather than what consumers want or need. 

    “We want to provide the same level of service that [customers] get offline in the online environment,” Hong said.  

    Hyper-personalization 

    Amorepacific was started 80 years ago by Suh Sungwhan, whose mother, Yun Dokjeong, bottled camellia oil by hand. It was the first Korean company to set up a cosmetics lab in the 1950s and to open a beauty counseling center in the 1960s. Today it is helmed by Suh’s son, Kyungbae Suh, and its well-known brands include Etude, Innisfree and Hera at the entry level, Laneige a step up and Sulwhasoo at the luxury end. 

    Amorepacific products are sold in more than 15 markets, the biggest being Korea, China and the rest of Asia Pacific. It is also making inroads in North America and Europe.  

    The organization was already using AI technology on its online Amore Mall to drive product search, recommendations and skin diagnosis when generative AI burst onto the scene about three years ago.  

    “We saw how we could make it [the online experience] a conversational service,” said Chikook Noh, Amorepacific’s AI Solutions Team Leader.

    Chikook Noh, Amorepacific’s AI Solution Team Leader, sees the app advising first on skincare then on make-up in future. Photo by Seong Joon Cho for Microsoft.

    The AIBC uses OpenAI’s GPT 4o and 4o-mini large language models on Microsoft Azure OpenAI Service to answer customer queries in the app. The underlying data is handled with Data Factory on Microsoft Fabric and AI Search functions in Azure AI Foundry. 

    The AIBC would help overcome a gap with the company’s existing online skin diagnosis tool on Amore Mall, Noh said. Currently consumers answer a series of questions such as “Is your skin oily? (Rate on a scale of 1 to 5)” and take a picture of their faces. It produces an overall score and dispenses advice on skincare and products. 

    This skin diagnosis tool has been used 2.5 million times online and in stores by consumers over the last four years. The IT department noticed an interesting thing – when used online via Amore Mall, “the transition to purchase tends to be on the lower side,” Noh said. But when used in a physical store, “the offline rate is very high because there is a conversation with the sales assistant.” 

    Sion Kim tries out the AI Beauty Counsellor app, which is being launched soon. Photo by Seong Joon Cho for Microsoft.

    The AI app aims to provide the kind of advice that store sales assistants provide to drive sales. Inputs for the AIBC will include consumers’ purchase history, review history as well as online skin diagnosis. The AIBC will then converse with the consumer to determine their current skin status and what their concerns are. 

    The most important thing is the “hyper-personalization. I know you. I know what troubles you have. I know what makes you feel good,” Noh said. 

    Different beauty needs 

    The AIBC development team anticipates interest even from those who don’t use a ton of beauty products. 

    Hyejin Yoon, 35, is at the other end of the consumer spectrum from Kim, the Pilates instructor. A former Chinese teacher for middle and high-schoolers, she now stays home with her one-year-old baby on the outskirts of Seoul. 

    Before the baby, she used various Amorepacific brands like Hera, Primera and Hanyul. Now there’s only time for a face wash, a toner and moisturizing cream from Illiyoon, a fragrance-free brand aimed at people with sensitive skin. She shares the cream with her baby. 

    “I have no time to put on so many steps because of the baby,” she said. 

    Hyejin Yoon is a time-pressed new mother in Seoul who says she would use the AI Beauty Counsellor app to suggest products for her skin. Photo by Seong Joon Cho for Microsoft.

    She noticed how her skin changed when she became a mother. “I feel my skin is getting drier and drier,” she said. “I am tired of having to keep trying different products.” 

    She briefly tried a test version of the AIBC app and said she could see herself using it, especially if it includes facial analysis. 

    The AI Beauty Counselor is Amorepacific’s first public-facing use of generative AI. 

    It follows the organization’s roll out in 2023 of a generative AI chat tool for internal use, also on Microsoft Azure OpenAI Service. That has been used for everything from summarizing medical research articles to creating interior designs for pop-up stores to creating marketing content. 

    Since the AIBC involves interacting with the public, the IT team has also taken pains to anticipate potentially risky subjects such as politics and religion. If a consumer touches on these subjects, the AIBC will reply: “This is a question we cannot answer,” according to Hong. 

    In the future, the goal is for the AIBC to go beyond text to include voice and images and dispense advice not just on skincare but also make-up and health supplements.

    Top Image: Sion Kim, a 26-year-old Pilates instructor, said she would use the AI Beauty Counsellor app to keep up with seasonal trends and what suits her skin type. Photo by Seong Joon Cho for Microsoft. 

    MIL OSI Economics –

  • MIL-OSI Global: Forget booing the anthem, Canada must employ strategic communications to fight Trump’s lies

    Source: The Conversation – Canada – By Matthew Hefler, Senior Research Fellow, Center for Statecraft and Strategic Communication, Stockholm School of Economics

    Since his return to office, United States President Donald Trump has launched a trade war on Canada. The White House has twice set deadlines for the imposition of sweeping 25 pre cent tariffs — and twice pulled back.

    Trump has also threatened to use “economic force” to compel Canada to become the 51st state, remarks that are a focal point of the ongoing federal election campaign.

    Canadians are offended. They’ve voiced this displeasure, with Canadian sports fans continuing to boo the American anthem at recent events.

    This might be counterproductive.

    Trump says Canada is ‘nasty’

    In this trade war, Canada faces more than tariffs: it’s confronting a communications effort by the president to paint Canadians as mean, disrespectful and “nasty.”

    Trump’s most consistent line is that Canadians are “not fair,” “very abusive” and taking advantage of the U.S. on trade.

    Regardless of the truth, the president repeats these allegations over and over and over again.

    The repetition is the point — it’s an important practice in strategic communications or what’s known as StratCom, the use of communication to achieve objectives.

    The repetition is key to Trump’s StratCom — it’s a way of making his message stick. Hard as it is for Canadians to believe this, there’s a danger of this “nasty Canadian” narrative taking hold south of the border.

    Take it from a communications expert who often works in the U.S. and Europe: not everyone is as well-versed on the dispute as Canadians are. Even actions like booing the American anthem risk reinforcing Trump’s slurs against Canada.

    Canada must devise its own strategy to counter Trump’s message and remind Americans — and the world — that Canada trades on fair terms. By dampening American support for the president’s trade war, this StratCom effort could actually help protect the Canada-U.S. relationship for the long term.

    Creating false counter-narratives

    Trump has long mastered the art of swapping one narrative with a preferred alternative. This tactic has arguably helped save his political career.

    For millions of Americans, the president turned Russian interference in the 2016 election into the “Russia Hoax” — something he raised as recently as the infamous Oval Office meeting with Ukrainian President Volodymyr Zelenskyy.

    Rather than concede the 2020 election, Trump and his allies adopted the mantra “Stop the Steal.” And in a most striking StratCom effort, Trump and supporters recast the events of Jan. 6, 2021 at the U.S. Capitol into “a day of love.” Trump also issued a blanket pardon of all those convicted over the attack.

    These are astounding examples of strategic communications, whatever we might think of the president’s honesty or his objectives.

    Every time Trump repeats claims that Canada is taking advantage of the U.S., that narrative becomes further entrenched. So far, Ottawa has reminded Americans that Canada is a good partner and that tariffs would hurt both countries.

    But it’s not clear that appealing to the long Canadian-American history as allies is having much effect in the White House. In early February, Vice President JD Vance posted: “Spare me the sob story about how Canada is our ‘best friend’” and noted Canada’s low defence spending.

    A Canadian StratCom strategy

    The Canadian government therefore must invest in an ambitious campaign of strategic communications. It should drive home that Canadians trade on fair terms and that Canada buys more American goods than China, Japan, the United Kingdom and France combined.

    This StratCom effort must make clear that Canadians can and will be forced to buy elsewhere. It must note that Trump renegotiated a new Canada-U.S.-Mexico trade deal in 2018 and that the agreement was a win for the U.S.

    The campaign can employ humility and humour, but it must reinforce the mutual benefit of trade and make clear that Trump’s anti-Canada comments are not based in reality.

    Some specific claims must be targeted. Trump often notes that Canada has high tariffs on specific American products, like milk. But this can be misleading, as these are part of a negotiated supply control quota system.

    Rather than simply counter Trump’s narrative, the campaign should advance a Canadian one.

    Canadian leaders are starting to recognize this. Before leaving office, Prime Minister Justin Trudeau compared Trump’s treatment of Canada over trade with his conciliatory stance toward Russia over its invasion of Ukraine.

    Former finance minister Chrystia Freeland has underscored the importance of communicating directly to regular Americans. The federal government has paid for anti-tariff ads on digital billboards along key highways in red states, including Florida, Nevada, Georgia, Michigan and Ohio.

    Canadians themselves are in on the act. Decades after Canadian actor and broadcaster Jeff Douglas appeared in the iconic “I am Canadian” commercial, he’s come out with a new rendition.

    “We are Canadian” rejects the president’s “51st State” threats. Its polite but firm tone is the sort of quintessentially Canadian response that should form the basis of a national StatCom effort.

    A new Jeff Douglas ‘We Are Canadian’ video.

    Controlling the narrative

    Given time and space, Trump can reshape the terms of the debate or even perceptions of reality. The Canadian government should therefore lead the way in defending the country’s trading practices and its value as a partner.

    This effort should reflect Canada’s traditional emphasis on respect and decency. Canadians are offended. But they should resist responses like booing another nation’s anthem — especially if it contributes to the president’s effort to paint Canadians as mean or disrespectful.

    The Canada-U.S. relationship will be changed by this experience. But whether the rift is lasting depends in part on whether Canadians believe regular Americans accept or reject the president’s narrative.

    A good communications effort could help Canada counter the president’s StratCom campaign and reduce the longer-term fallout from this unfair attack — no matter the repeated threats and slurs emanating from the Oval Office.

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

    – ref. Forget booing the anthem, Canada must employ strategic communications to fight Trump’s lies – https://theconversation.com/forget-booing-the-anthem-canada-must-employ-strategic-communications-to-fight-trumps-lies-252704

    MIL OSI – Global Reports –

  • MIL-OSI Banking: Participation of Standalone Primary Dealers in Variable Rate Repo operations

    Source: Reserve Bank of India

    In terms of the paragraph 1(x) of the Statement on Developmental and Regulatory Policies dated February 06, 2020, Standalone Primary Dealers (SPDs) were allowed to participate in all overnight liquidity management operations (except Marginal Standing Facility) under the current Liquidity Management Framework dated February 06, 2020. SPDs were also allowed to participate in other operations such as long-term Variable Rate Repo (VRR) operations and daily VRRs on a case-to-case basis.

    2. On a review, it has now been decided to allow SPDs to participate in all Repo operations, irrespective of the tenor, conducted by the Reserve Bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2470

    MIL OSI Global Banks –

  • MIL-OSI Banking: Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 – Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak (Karnataka) – Extension of Period

    Source: Reserve Bank of India

    The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Shree Mahalaxmi Urban Co-operative Credit Bank Ltd., Gokak vide Directive No. CO.DOS.SED.No.S4800/12-23-151/2024-2025 dated September 26, 2024, for a period of six months up to close of business on March 27, 2025. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond close of business on March 27, 2025.

    2. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from close of business on March 27, 2025, to close of business on June 27, 2025, subject to review.

    3. All other terms and conditions of the Directive under reference shall remain unchanged.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2471

    MIL OSI Global Banks –

  • MIL-OSI Economics: RBI imposes monetary penalty on Punjab & Sind Bank

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated March 24, 2025, imposed a monetary penalty of ₹68.20 lakh (Rupees Sixty Eight Lakh Twenty Thousand only) on Punjab & Sind Bank (the bank) for non-compliance with certain directions issued by RBI on ‘Creation of a Central Repository of Large Common Exposures – Across Banks’ read with ‘Central Repository of lnformation on Large Credits (CRlLC) – Revision in Reporting’ and ‘Financial Inclusion – Access to Banking Services – Basic Savings Bank Deposit Account (BSBDA)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.

    The Statutory Inspection for Supervisory Evaluation (ISE 2023) of the bank was conducted by RBI with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.

    After considering the bank’s reply to the notice, additional submissions made by it and oral submissions made during the personal hearing, RBI found that the following charges against the bank were sustained, warranting imposition of monetary penalty:

    1. The bank did not report certain borrowers with non-fund based exposure of ₹5 crore and above to CRILC; and

    2. The bank allowed certain BSBDA holders to open Savings Bank Deposit Accounts.

    The action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2469

    MIL OSI Economics –

  • MIL-OSI Banking: Secretary-General of ASEAN welcomes Minister of Europe and Foreign Affairs of France to the ASEAN Headquarters/ASEAN Secretariat

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today welcomed H.E. Jean-Noël Barrot, Minister of Europe and Foreign Affairs of the Republic of France, at the ASEAN Headquarters/ASEAN Secretariat. Their discussion revolved around seeking ways and means to further enhance ASEAN-France relations as both sides mark the fifth anniversary of their Development Partnership this year.

    The post Secretary-General of ASEAN welcomes Minister of Europe and Foreign Affairs of France to the ASEAN Headquarters/ASEAN Secretariat appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Economics: RBI imposes monetary penalty on KLM Axiva Finvest Limited

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated March 24, 2025, imposed a monetary penalty of ₹10 lakh (Rupees Ten Lakh only) on KLM Axiva Finvest Limited (the company) for non-compliance with requirements relating to ‘Declaration of dividends’ contained in the RBI directions on ‘Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of clause (b) of sub-section (1) of Section 58G read with clause (aa) of sub-section (5) of Section 58B of the Reserve Bank of India Act, 1934.

    The correspondence pertaining to the intimation of declaration of an interim dividend revealed, inter alia, non-compliance with RBI directions. Based on the same, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions.

    After considering the company’s reply to the notice and oral submissions made during the personal hearing, RBI found that the following charge against the company was sustained, warranting imposition of monetary penalty.

    The company declared a dividend for the financial year 2023-24, despite not meeting the minimum prudential requirements in each of the last three financial years.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2467

    MIL OSI Economics –

  • MIL-OSI Economics: What’s next for corporate net zero? Join GlobalData’s webinar to find out how to adapt your ESG strategy

    Source: GlobalData

    What’s next for corporate net zero? Join GlobalData’s webinar to find out how to adapt your ESG strategy

    Posted in Strategic Intelligence

    Decarbonization has become one of the most disruptive trends across all industries. Virtually every major company in every sector now has a strategy for reaching net-zero greenhouse gas emissions. This impacts their relationships with suppliers, clients, and customers and drives investment in new technologies, says GlobalData, a leading data and analytics company.

    Against this backdrop, the GlobalData Strategic Intelligence team invites you to attend its “What next for corporate net zero?” webinar on Thursday, 27 March 2025, at 4pm GMT/12pm EDT.

    During this webinar, Chris Papadopoullos, Principal Analyst, Strategic Intelligence at GlobalData, and Grace Fan, Managing Director, Global Policy Research and Disruptive Themes Research, TS Lombard, will take a deep dive into net zero to find out:

    • The impact of Trump 2.0 on corporate net zero strategies.
    • The biggest emissions challenges facing companies approaching 2030 targets.
    • The emerging strategies and technologies of corporate sustainability leaders.

    Papadopoullos says: “Despite an anti-ESG backlash in the US, major companies have broadly stuck to their environmental goals. However, companies must balance their communications to appease anti-ESG and pro-ESG stakeholders.

    “The main challenges corporates will need to overcome between now and 2030 to achieve emissions targets include trying to find enough renewable energy, decarbonizing artificial intelligence, reducing emissions from agriculture and land use, and finding high-quality carbon offset projects in which to invest.”

    Fan adds: “Although the shape of the green transition is changing as global geopolitics scrambles supply chains and the AI-energy-water nexus adds new stresses on national grids, decarbonization as a structural force is here to stay. This makes it imperative for companies to think beyond the next few years to future-proof their strategies.”

    Register now for GlobalData’s “What next for corporate net zero?” webinar on Thursday 27 March 2025 at 4pm GMT/12pm EDT.

    MIL OSI Economics –

  • MIL-OSI Russia: The Academic Council of the State University of Management discussed the development strategy and the future of education

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    On March 25, 2025, the next meeting of the Academic Council of the State University of Management was held.

    Traditionally, we started with the congratulatory part. Rector Vladimir Stroyev presented letters of gratitude from the Ministry of Science and Higher Education for their contribution to the development of practice-oriented education, the development of the federation within the framework of the “Service Learning” program to Vice-Rector Dmitry Bryukhanov and Associate Professor of the Department of Management in International Business and Tourism Industry Svetlana Grishaeva.

    Vladimir Vitalyevich also congratulated the birthday boys of the month and thanked Elena Shtyreva, an employee of the Institute of Distance Education of the State University of Management, for 55 years of continuous work at the State University of Management.

    “I also want to join in the congratulations and say “thank you” on behalf of all the institute’s employees for their daily work and contribution to the development of the institute. I know where she gets this character from, her grandfather was the deputy commander of Vasily Chapaev’s division,” Sergei Lenshin, director of the Fine Arts Department of the State University of Management, congratulated Elena Arkadyevna.

    After the completion of the formal part, those gathered moved on to considering the issues on the agenda.

    Deputy Director of the Department of Academic Policy and Implementation of Educational Programs Olga Zhuravleva presented a summary report on the self-assessment of the main areas of the university’s activities for 2024.

    “For the first time, we worked on the report together with the Center for Prospective Development, which allowed us to better present the overall picture. The indicators have mostly increased and are impressive. The University is successfully developing in most indicators. However, there are also growth points and challenges of modern society that we need to work with more actively,” Olga Zhuravleva noted.

    Director of the Center for Prospective Development Tatyana Gordeeva spoke about the results of the implementation of the State University of Management Development Program for 2024.

    “2024 has become a fundamental year in the formation of the organizational foundations of the development program. At the same time, today we are already working on its implementation in the context of the emerging new system of higher education. What it will be like is still unknown, but we must keep this in mind. In addition, there are risks of reducing off-budget admission to humanitarian programs, which are key for the State University of Management today. Therefore, today it is important to focus on the effective implementation of the development tasks that we have defined for ourselves in order to form the necessary reserve for participation in new national projects and the implementation of our ambitious goals,” Tatyana Gordeeva emphasized.

    Vladimir Stroev noted the importance of not only taking into account indicators in areas, but also making proposals for their improvement, which he expects from every employee.

    “The issue of the development program is not simple, it is connected with many indicators that are used in different systems and different issues. And all our reports must be treated responsibly, not only noting positive results, but also expressing criticism in case of their failure. These data are a reason to think about what we are doing now and what will happen to us tomorrow. It would be good not just to fulfill the indicators, but also to exceed them, or be close to this,” concluded Vladimir Vitalyevich.

    Director of the Institute of Economics and Finance Galina Sorokina reported on the results of the institute’s work for 2024.

    “The institute has shown growth in almost all areas, so it is especially pleasant to make a report. The number of not only admitted students has grown, but also those who transferred from other universities. The number of foreign students has also grown, with Vietnamese students predominating. The number of educational programs implemented by the institute is also growing. A program on behavioral economics is being developed, which will be carried out jointly with the Central Bank and Rosfinmonitoring,” Galina Petrovna noted.

    Vice-Rector Pavel Pavlovsky informed those gathered about the implementation of the Youth Policy Strategy at the State University of Management.

    “The State University of Management is undoubtedly one of the leading universities in the implementation of youth policy. We became the first university in Moscow for educational work, and in Russia we took 3rd place among universities with a population of 5 to 10 thousand people. In 2024, 47 federal projects were held on the basis of the State University of Management. This year, we initiated the All-Russian student competition “Family History. Immortal Memory”, expanded the geography of the All-Russian project “Course for Business and Entrepreneurship” that we are implementing, which will be held not only in the International Children’s Center “Artek” and the All-Russian Children’s Center “Ocean”, but also in the All-Russian Children’s Centers “Smena” and “Orlyonok”. And, of course, the All-Russian KVN School, “University Shifts” and other important events await us,” Pavel Vladimirovich shared.

    Vice-Rector Dmitry Bryukhanov proposed creating a Preparatory Department for Foreign Citizens, which was unanimously supported by the council members.

    At the end of the meeting, Vladimir Stroyev called on those gathered to prepare not only for the 2025 admissions campaign, but also to think about admissions in 2026 and make their proposals.

    “This year, the admission campaign is still under the old system, but next year a new model will be adopted, and we must be ready. It is time to prepare proposals for our areas in a given situation, including in the event of a stressful situation. We must have specific solutions for each issue,” the rector of the State University of Management concluded.

    In addition, the meeting discussed the nomination of GUU employees to participate in the All-Russian competition “Golden Names of Higher Education”, approval of new DPO programs, tuition fees and other work issues.

    Subscribe to the TG channel “Our GUU” Date of publication: 03/26/2025

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

    MIL OSI Russia News –

  • MIL-OSI: Trident Announces Strategic Collaboration with Two Global E-Commerce Firms

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 26, 2025 (GLOBE NEWSWIRE) — Trident Digital Tech Holdings Ltd (“Trident” or the “Company,” NASDAQ: TDTH), a leading catalyst for digital transformation in technology optimization services and Web 3.0 activation based in Singapore, today announced it has entered into a strategic collaboration agreement (the “Collaboration Agreement”) with two partners in the e-commerce sector. Per the Collaboration Agreement, Trident will join forces with Silkoo Dutyfree Limited (“Silkoo”), an e-commerce retailer and import-export trader, and Haitu Trade Co., Limited (“Haitu”), an e-commerce entity specializing in beauty and cosmetics, to foster a synergistic partnership that drives business growth, enhances customer satisfaction, and promotes operational efficiency.

    The agreement establishes a framework for cooperation in several key areas, including data analytics, strategic planning, supply chain optimization, platform integration, and customer experience enhancement. As a result of the collaboration, the parties hope to drive mutual growth through consumer data synergies, coordinated market strategies, optimized logistics networks in Southeast Asia, expanded inter-platform ecosystems, and the delivery of seamless, personalized customer experiences that foster loyalty and operational excellence.

    Each company will bring unique operational strengths to the table. Trident will contribute its sophisticated Web 3.0-based digital identity platform, Tridentity, which offers secure authentication across its diverse ecosystem of services including Tri-food, Tri-events, Tri-Buy, and TriVerse. This will create a comprehensive digital experience framework that can serve as the technological backbone for the partnership. Silkoo will provide extensive e-commerce expertise with its established presence in five Southeast Asian countries, along with valuable third-party merchant status on TikTok Global Shop that will drive substantial customer data acquisition and cross-border sales capabilities. Haitu will contribute specialized knowledge in cosmetics and beauty product distribution, bringing its successful experience as a proprietor of an overseas cosmetic account on Pinduoduo, which provides access to diverse global customer segments and market insights.

    Together, these complementary strengths aim to create a powerful alliance that combines Trident’s technological innovation, Silkoo’s regional e-commerce presence, and Haitu’s specialized product expertise to develop an integrated digital commerce ecosystem.

    Soon Huat Lim, Founder, Chairman, and Chief Executive Officer of Trident, stated, “This strategic collaboration represents a significant milestone in our e-commerce journey. By combining our cutting-edge Tridentity platform with Silkoo’s e-commerce network and Haitu’s specialized expertise, we’re creating a powerful ecosystem that transcends traditional boundaries. Our partnership will leverage data analytics, streamlined supply chains, and optimized integration to deliver exceptional customer experiences across multiple touchpoints. Together, we endeavor to expand our market reach while fundamentally reimagining how digital commerce can seamlessly connect consumers with products and services throughout Southeast Asia and across the globe.”

    About Trident
    Trident is a leading catalyst for digital transformation in digital optimization, technology services, and Web 3.0 activation worldwide based in Singapore. The Company offers commercial and technological digital solutions designed to optimize its clients’ experience with their end-users by promoting digital adoption and self-service.

    Tridentity, the Company’s flagship product, is an innovative and highly secure blockchain-based identity solution designed to provide secure single sign-on authentication capabilities to integrated third-party systems across various industries. Tridentity aims to offer unparalleled security features, ensuring the protection of sensitive information and preventing potential threats, thus promising a new secure era in the global digital landscape in general, and in Southeast Asia etc.

    Beyond Tridentity, the Company’s mission is to become the global leader in Web 3.0 activation, notably connecting businesses to a reliable and secure technological platform, with tailored and optimized customer experiences.

    About Silkoo
    Silkoo Dutyfree Limited is primarily engaged in the business of E-commerce, online retail, import and export and trading (electrical equipment, furniture, cosmetics, etc.) Silkoo also owns and operates the “Shepinport” intellectual property across five countries in Southeast Asia, including Singapore, Malaysia, Vietnam, Thailand, and the Philippines. As an authorised third-party merchant on TikTok Global Shop, Silkoo Dutyfree leverages the platform to drive customer data, traffic, and sales, offering a range of products to its customers.

    About Haitu
    Haitu Trade Co. Limited is a specialized e-commerce entity principally engaged in the online retail and distribution of cosmetics and beauty products. Notably, the company is the proprietor of an overseas cosmetic account on the Pin Duo Duo (PDD) platform, thereby leveraging this prominent digital marketplace to cater to a diverse customer base across different regions in the world.

    Safe Harbor Statement
    This announcement contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s strategies, future business development, and financial condition and results of operations; the expected growth of the digital solutions market; the political, economic, social and legal developments in the jurisdictions that the Company operates in or in which the Company intends to expand its business and operations; the Company’s ability to maintain and enhance its brand. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    Investor and Media Contacts
    Investor Relations
    Robin Yang, Partner
    ICR, LLC
    Email: investor@tridentity.me
    Phone: +1 (212) 321-0602

    Media Relations
    Brad Burgess, SVP
    ICR, LLC
    Email: Brad.Burgess@icrinc.com

    The MIL Network –

  • MIL-OSI New Zealand: Government unlocks export growth opportunities for New Zealand dairy businesses

    Source: New Zealand Government

    The Government’s commitment to growing the value of New Zealand’s dairy exports has taken a major step forward with the passing of a key Bill in Parliament, Agriculture Minister Todd McClay announced today.

    “The Dairy Industry Restructuring (Export Licences Allocation) Amendment Bill, which passed its third reading today, modernises New Zealand’s dairy export quota system, creating new opportunities for growth and boosting farmgate returns,” Mr McClay says.

    “New Zealand’s dairy farmers and processors produce world-class products, but outdated rules have restricted export growth. This law unlocks greater access to lucrative overseas markets and ensures the quota system reflects the diversity of our dairy industry.”

    New Zealand currently administers dairy export quotas for the Dominican Republic, the European Union, Japan, the United Kingdom, and the United States.

    “The Bill introduces vital changes to better support businesses of all sizes, and it shifts quota allocation from the proportion of milk solids a company collects from farmers to a system based on export performance,” Mr McClay says.

    “It also reserves portions of quotas for exporters who are currently ineligible — ensuring fairer access across the industry.

    “And importantly, it now includes quota for sheep, goat, and deer milk processors, unlocking new export opportunities and revenue streams.”

    Mr McClay says the Bill directly supports the Government’s ambitious goal of doubling the value of New Zealand’s exports in 10 years.

    The commencement date for the Bill is 1 May 2025.

    MIL OSI New Zealand News –

  • MIL-OSI China: MOFA response to Japanese Foreign Minister Iwaya reaffirming importance of cross-strait peace in meeting with Chinese Foreign Minister Wang

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    MOFA response to Japanese Foreign Minister Iwaya reaffirming importance of cross-strait peace in meeting with Chinese Foreign Minister Wang

    • Date：2025-03-23
    • Data Source：TAIWAN-JAPAN RELATIONS ASSOCIATION

    March 23, 2025

    Japanese Minister for Foreign Affairs Takeshi Iwaya met with Chinese Minister of Foreign Affairs Wang Yi in Tokyo on March 22. During the meeting, Minister Iwaya expressed concern over China’s military activities targeting Taiwan and reiterated that peace and stability across the Taiwan Strait were of utmost importance to Japan and the international community. He also called for the peaceful resolution of cross-strait issues and opposed any attempts to unilaterally change the status quo by force or coercion. 

    The government of Japan has repeatedly emphasized the importance of cross-strait peace and stability at major international events in recent years, urging the global community to pay attention to security across the Taiwan Strait. These events included the US-Japan summit and the trilateral meeting between the US secretary of state and the foreign ministers of Japan and the Republic of Korea on the sidelines of the Munich Security Conference, both in February, as well as the Group of Seven foreign ministers’ meeting in March.

    Minister of Foreign Affairs Lin Chia-lung thanks Japan for continuing to follow security developments across the Taiwan Strait and staunchly supporting cross-strait peace and stability. He stresses that Taiwan has consistently welcomed international actions that contribute to safeguarding regional peace. Taiwan is committed to steadily enhancing its self-defense capabilities and bolstering cooperation with like-minded nations to jointly uphold peace, stability, and prosperity across the Taiwan Strait and the Indo-Pacific.

    MIL OSI China News –

  • MIL-OSI China: MOFA and Ministry of Agriculture to form new smart agriculture advisory team to promote Diplomatic Allies Prosperity Project

    Source: Republic of Taiwan – Ministry of Foreign Affairs

    March 24, 2025
    No. 082

    In a cross-ministerial meeting at the Ministry of Agriculture (MOA) on March 24, Minister of Foreign Affairs Lin Chia-lung and Minister of Agriculture Chen Junne-jih decided to form a new smart agriculture advisory team. The team will bring together public and private resources from the government, industry, academia, research institutions, the agricultural industry, and other sectors. In the spirit of integrated diplomacy, the new group will jointly implement a smart agriculture flagship plan under the Diplomatic Allies Prosperity Project. 

    Through coordination with diplomatic allies and friendly countries, the plan will enhance AI and digital technology applications in precision agriculture and other areas. Taiwan will work with partner countries to develop new smart agriculture, promote an agricultural Taiwan+n model (where n refers to a growing number of partners), and help the Taiwanese agricultural industry expand globally. Collaboration between Taiwan, partner countries, and friendly nations will also strengthen global food security, improve agricultural sustainability and resilience, and deliver a concerted response to the challenges of climate change.

    During the meeting at MOA, Minister Lin, Minister Chen, and their staff discussed how to expand agricultural cooperation projects with allies and friendly countries and create reciprocal and mutually beneficial business opportunities. They explored ways to assist countries in upgrading and transforming their farming sectors, increasing productivity and competitiveness, and achieving sustainable development. Potential avenues included technical cooperation, professional training, the establishment of demonstration sites, and business and investment matchmaking. The officials also discussed how to train young farmers and specialists in new smart agriculture both in Taiwan and target countries to give them a competitive edge.

    Meanwhile, the ministers deliberated on three key projects—expanding agricultural cooperation between Taiwan and the Philippines under the Executive Yuan’s economic diplomacy task force, further promoting smart aquacultural cooperation with Palau to develop its tourism industry, and exploring the possibility of cooperation to establish a seedling center in the Caribbean. They also exchanged views on organizing an agricultural trade goodwill mission to the United States in September.

    The agricultural industry is the bedrock of Taiwan’s economy and food security. President Lai Ching-te’s National Project of Hope includes the promotion of agricultural transformation and advancement to achieve sustainable resilience. The Executive Yuan’s Smart Taiwan 2.0 initiative also develops creative applications across various sectors. Under these policies and based on the new agriculture section of the Five Plus Two Industrial Innovation program, Minister Lin has launched a raft of new initiatives. These include promoting the concept of new smart agriculture; expanding applications of AI and smart solutions in agricultural production, management, and marketing; collaborating with MOA’s smart agriculture alliances; transforming agriculture to become smarter and more sustainable; and creating an international fleet focused on Taiwan’s new smart agriculture.

    Looking ahead, MOFA and MOA will continue working with partners from various sectors to assist diplomatic allies and friendly countries in adopting smart agricultural technology to enhance food security, realize sustainable development, and create shared prosperity and mutual benefits. In line with President Lai’s vision for sustainable resilience, the ministries will further contribute to global agricultural development and food security. MOFA and MOA will jointly support the efforts of Taiwanese agricultural businesses to expand their presence in the international market and ensure that Taiwan remains a thriving global economic powerhouse. (E) 

    MIL OSI China News –

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

    Source: United Kingdom – Executive Government & Departments

    Speech

    2025 Rohingya Joint Response Plan: UK statement

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

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

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

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

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

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

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

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

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

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

    Thank you.

    Updates to this page

    Published 26 March 2025

    MIL OSI United Kingdom –

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

    Source: GlobeNewswire (MIL-OSI)

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

    Solana: The Epicenter of Meme Coin Mania

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

    DEX3.AI: Intelligence Meets Intuition

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

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

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

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

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

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

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

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

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

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

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

    Conclusion

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

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

    Media Contact:

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

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

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

    Photos accompanying this announcement are available at:
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    The MIL Network –

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

    Source: ASEAN

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

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

    MIL OSI Economics –

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

    Source: ASEAN

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

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

    MIL OSI Economics –

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

    Source: Asia Development Bank

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

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

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

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

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

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

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

    These four areas offer interesting opportunities for AI in finance:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    MIL OSI Economics –

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

    Source: China State Council Information Office

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

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

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

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

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

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

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

    MIL OSI China News –

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

    Source: United Kingdom – Executive Government & Departments

    World news story

    UK-Southeast Asia Tech Week 2025 in Manila

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

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

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

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

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

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

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

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

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

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

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

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

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

    Ambassador Beaufils added:

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

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

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

    Updates to this page

    Published 26 March 2025

    MIL OSI United Kingdom –

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

    Source: United Kingdom – Government Statements

    World news story

    UK, Philippines hold 5th Climate Change and Environment Dialogue

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

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

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

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

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

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

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

    Ambassador Beaufils said:

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

    Meanwhile, Secretary Loyzaga highlighted:

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

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

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

    Updates to this page

    Published 26 March 2025

    MIL OSI United Kingdom –

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

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

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

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

    Source: Sergei Sobyanin’s Telegram channel @Mos_Sobyanin

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

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

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

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

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

    “In August 2024, the first

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

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

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

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

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

    MIL OSI Russia News –

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

    Source: GlobalData

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

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

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

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

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

    About GlobalData

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

    MIL OSI – Submitted News –

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

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    MIL OSI Russia News –

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

    Source: China State Council Information Office

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

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

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

    Of the wounded, six people suffered serious injuries.

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

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

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

    MIL OSI China News –

  • MIL-OSI: GAM announces 2024 full year results

    Source: GlobeNewswire (MIL-OSI)

    26 March 2025

    PRESS RELEASE

    Ad hoc announcement pursuant to Art. 53 Listing Rules:

    GAM announces 2024 full year results

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

    Financial Highlights for Full Year 2024

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

    Strategic Highlights

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

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

    Summary Financials

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

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

    Financial Strength

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

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

    Strategy Update

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

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

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

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

    Focusing on clients

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Enhancing effectiveness by reducing complexity

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

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

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

    Business Areas

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

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

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

    Investment Performance

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

    Percentage of GAM Fund AuM Outperforming Benchmark

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

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

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

    Percentage of GAM Fund AuM Outperforming Morningstar Peer Group

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

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

    Assets Under Management and Net Flows by Business Area

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

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

    Financial Results for FY 2024

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

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

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

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

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

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

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

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

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

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

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

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

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

    Outlook

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

    Additional information

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

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

    Visit us: www.gam.com
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    About GAM Investments

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

    Other Important Information

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

    Any such statements in this release speak only as of the date hereof and are based on assumptions and contingencies subject to change without notice, as are statements about market and industry trends, projections, guidance, and estimates. Any forward-looking statements in this release are not indications, guarantees, assurances or predictions of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the person making such statements, its affiliates and its and their directors, officers, employees, agents and advisors and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct and may cause actual results to differ materially from those expressed or implied in any such statements. You are strongly cautioned not to place undue reliance on forward-looking statements and no person accepts or assumes any liability in connection therewith.

    This release is not a financial product or investment advice, a recommendation to acquire, exchange or dispose of securities or accounting, legal or tax advice. It has been prepared without taking into account the objectives, legal, financial or tax situation and needs of individuals. Before making an investment decision, individuals should consider the appropriateness of the information having regard to their own objectives, legal, financial and tax situation and needs and seek legal, tax and other advice as appropriate for their individual needs and jurisdiction.

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