Category: Asia

  • MIL-OSI Asia-Pac: Government committed to fostering business climate, enhance Ease of Doing Business: Union Commerce and Industry Minister Piyush Goyal

    Source: Government of India (2)

    Government committed to fostering business climate, enhance Ease of Doing Business: Union Commerce and Industry Minister Piyush Goyal

    PM’s visit to USA, France paved the way for greater investment and collaboration: Shri Goyal

    Small & Medium enterprises have a transformative role in driving Viksit Bharat: Shri Goyal

    Posted On: 25 FEB 2025 5:02PM by PIB Delhi

    The Centre is committed to creating a favourable investment climate, ensuring regulatory stability, and enhancing the Ease of Doing Business (EoDB) in the country. This was stated by Union Minister of Commerce & Industry Shri Piyush Goyal during his virtual address at the Pune International Business Summit 2025, which was organised by Mahratta Chamber of Commerce, Industries, and Agriculture (MCCIA) on January 24, 2025.

    The Minister stressed that Prime Minister Shri Narendra Modi’s recent visits to the USA and France have paved the way for greater investment and enhanced collaborations. Emphasising that the 2-day summit will delve into emerging trade trends, build robust alliances and highlight the transformative role of Small and Medium Enterprises (SMEs) in driving Viksit Bharat, Shri Goyal pointed out that representatives from over 20 countries will participate at the event, reflecting global confidence in India’s resilience.

    Minister Goyal emphasised that the Union Budget reinforces its commitments with a ₹10k Cr Fund of Funds for Startups and a Deep Tech Fund empowering entrepreneurs. He further stressed that a significant investment committed towards R&D with an initial estimation of Rs 20,000 crore for Anusandhan National Research Foundation (ANRF) along with a high-level committee, an investment-friendly index & Jan Vishwas 2.0 further bolster trust-based governance.

    Noting that Pune known as the ‘Detroit of the East’ is the hub of innovation, the Minister stressed that the city is setting benchmarks across industries, making it the ideal venue to host events that foster collaborations and drive India’s growth story.

    Shri Goyal praised MCCIA for bringing together an inspiring confluence of industry leaders and visionaries and said that the 90-year old Association has played a transformative role in fueling progress, empowering entrepreneurs and driving growth across Maharashtra and India.

    ***

    Abhijith Narayanan/Asmitabha Manna

    (Release ID: 2106145) Visitor Counter : 26

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Government building sustainable, resilient and future-ready infra: Union Commerce and Industry Minister Piyush Goyal

    Source: Government of India (2)

    Government building sustainable, resilient and future-ready infra: Union Commerce and Industry Minister Piyush Goyal

    Build India Infra Awards recognise excellence, celebrate innovation and inspire the next generation to dream bigger and build better: Shri Goyal

    Posted On: 25 FEB 2025 5:01PM by PIB Delhi

    With smart cities and green highways, the Government is building an infrastructure ecosystem that is sustainable, resilient and future-ready. This was stated by Union Minister of Commerce & Industry Shri Piyush Goyal during his virtual address at the second edition of Build India Infra Awards 2025 on January 24. He elaborated that the Budget 2025-26 allocates Rs 11.21 trillion for the infrastructure sector to not only help build roads and railways but also create jobs and businesses enabling citizens to experience better mobility and convenience.

    The Minister noted that under the leadership of Prime Minister Shri Narendra Modi, PM Gati Shakti initiative is ensuring integrated and multimodal infra development – making transport seamless, reducing logistical costs & boosting our economic potential.

    Shri Goyal stated that the Build India Infra Awards recognise excellence, celebrate innovation and inspire the next generation to dream bigger and build better. He further noted that these awards honour not just projects, but perseverance that is transforming India’s infra and shaping our nation’s future. From highways that redefine connectivity to railways driving economic growth; world-class ports boosting trade efficiency to modern airports strengthening regional and global connectivity – every milestone reflects India’s bold vision and commitment to progress, the Minister pointed out.

    In conclusion, the Minister urged the participants to continue collaborating, innovating and accelerating, ensuring that India’s infrastructure remains the backbone of its economic development.

    ***

    Abhijith Narayanan/Asmitabha Manna

    (Release ID: 2106144) Visitor Counter : 30

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: EPFO Adds 16.05 Lakh Net Members during December 2024

    Source: Government of India (2)

    EPFO Adds 16.05 Lakh Net Members during December 2024

    8.47 Lakh New Members Enrolled

    Posted On: 25 FEB 2025 4:58PM by PIB Delhi

    The Employees’ Provident Fund Organization (EPFO) has released provisional payroll data for December 2024, revealing a net addition of 16.05 lakh members. An increase of 9.69% has been registered in net payroll addition during the current month as compared to the previous month of November 2024.

    Further, the year-on-year analysis reveals a growth of 2.74% in net payroll additions compared to December 2023, signifying increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives.

    EPFO enrolled around 8.47 lakh new subscribers in December 2024. The new subscribers’ addition shows

    year on year growth of 0.73% from the previous year in December 2023. This surge in new subscribers can be attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO’s successful outreach programs.

    A noticeable aspect of the data is the dominance of the 18-25 age group, 4.85 lakh new subscribers added in the 18-25 age group, constituting a significant 57.29% of the total new subscribers added in December 2024. New subscribers in the 18-25 age group added in the month shows an increase of 0.91% compared with the previous month of November 2024 and a growth of 0.92% from the previous year in December 2023.

    Further, the net payroll addition for the age group 18-25 for December 2024 is approximately 6.85 lakh reflecting an increase of 16.91% compared to the previous month of November 2024. This is in consonance with the earlier trend which indicates that most individuals joining the organized workforce are youth, primarily first-time job seekers.

    The payroll data highlights that approximately 15.12 lakh members exited and subsequently rejoined EPFO. This figure represents a 5.10% increase compared to the previous month of November 2024. It also depicts a significant year-over-year growth of 25.76% compared to December 2023. These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead of applying for final settlement thus safeguarding long-term financial well-being and extending their social security protection.

    Gender-wise analysis of payroll data unveils that out of the total new subscribers added during the month, around 2.22 lakhs are new female subscribers. This figure exhibits significant year-over-year growth of 6.34% compared to December 2023. Also, the net female payroll addition during the month stood at around

    3.03 lakh reflecting a year over year growth of 4.77% compared to December 2023. The increase in female member additions is indicative of a broader shift towards a more inclusive and diverse workforce

    State-wise analysis of payroll data denotes that the top five states/ UTs constitute around 59.84% of net payroll addition, adding a total around 9.60 lakh net payroll during the month. Of all the states, Maharashtra is leading by adding 21.71% of net payroll during the month. The states/UTs of Maharashtra, Karnataka, Gujarat, Haryana, Delhi, Tamil Nadu, Uttar Pradesh and Telangana individually added more than 5% of the total net payroll during the month.

    Industry-wise Trends:

    Month-on-month comparison of industry-wise data displays significant growth in the net payroll addition working in establishments engaged in the industries viz.

    1. EXPERT SERVICES,
    2. BUILDING AND CONSTRUCTION INDUSTRY,
    3. OTHERS,
    4. TRADING – COMMERCIAL ESTABLISHMENTS,
    5. FINANCING ESTABLISHMENT.

    Of the total net payroll addition, around 41.23% addition is from expert services (consisting of manpower suppliers, normal contractors, security services, miscellaneous activities etc.).

    The above payroll data is provisional since data generation is a continuous exercise, as updating employee record is a continuous process. The previous data gets updated every month on account of:

    1. ECRs being filed for previous months after generation of payroll report.
    2. ECRs filed earlier being modified after generation of payroll reports.
    3. Date of exit from EPF membership for previous months being updated after generation of payroll report.

    From the month of April 2018, EPFO has been releasing payroll data covering the period September 2017 onwards. In monthly payroll data, the count of members joining EPFO for the first time through Aadhaar validated Universal Account Number (UAN), existing members exiting from coverage of EPFO and those who exited but re-joined as members, is taken to arrive at net monthly payroll.

    *****

    Himanshu Pathak

    (Release ID: 2106143) Visitor Counter : 57

    MIL OSI Asia Pacific News

  • MIL-OSI Europe: Written question – The future of ArcelorMittal and the steel industry in the EU – E-000737/2025

    Source: European Parliament

    Question for written answer  E-000737/2025
    to the Commission
    Rule 144
    Anthony Smith (The Left), Manon Aubry (The Left), Marina Mesure (The Left), Emma Fourreau (The Left), Damien Carême (The Left), Leila Chaibi (The Left)

    On 11 February 2025, the management of the ArcelorMittal Europe group announced that it was considering relocating certain activities to India. This decision follows Donald Trump’s introduction of 25 % tariffs on European steel and aluminium.

    In November 2024, ArcelorMittal announced the suspension of all its European decarbonisation projects, including the flagship hydrogen furnace project in Dunkirk, despite having received state aid to the tune of EUR 850 million. The company also chose to invest almost a billion dollars in a new ‘electrical steel’ plant in the USA, rather than in Europe.

    But this is not an isolated case. The entire European metallurgical industry is in crisis, with the threat of tens of thousands of direct and indirect job losses.

    Can the Commission say whether:

    • 1.it intends to reform the European electricity market to combat high electricity prices?
    • 2.it intends to respond to the US proclamations on raising tariffs by imposing retaliatory measures?
    • 3.it reaffirms its intent to exempt 80 % of European companies from the Carbon Border Adjustment Mechanism, even though it protects European metallurgy from unfair competition?

    Submitted: 18.2.2025

    Last updated: 25 February 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Briefing – China’s increasing presence in Latin America: Implications for the European Union – 25-02-2025

    Source: European Parliament

    Within just two decades, China has transformed from an insignificant player to a dominant force in Latin America, alongside the United States (US) and the European Union (EU). Predictions suggest that by 2035, China may even overtake the US as Latin America’s most important trading partner. China has been South America’s top trading partner for quite some time. The region holds strategic importance for the future of the global economy due to its abundance of resources and critical raw materials, such as lithium and copper. In parallel to maintaining economic ties with Latin America and the Caribbean (LAC), China is also enhancing its political relationship with the region, primarily through the China-Community of Latin American and Caribbean States (CELAC) forum. In 2018, China extended its vast global infrastructure development strategy – the Belt and Road Initiative – to Latin America. A recent example of Chinese strategic investment in the region is the Chancay megaport in Peru, which could be a game changer in Latin American logistics, as it will reroute trade between Latin America and Asia, bypassing the Atlantic and the Panama Canal. Recent actions by the Trump administration aimed at countering China’s influence in LAC may inadvertently strengthen China’s position in the region even further, as was seen during the first Trump administration. For the EU, which is in urgent need of a diversified supply of critical raw materials to navigate the clean and digital transition of its economy, the LAC region is now more strategically important than ever. The EU’s envisaged partnership agreement with Mercosur, the South American trading block, will test the EU’s commitment to deepening its partnership with Latin America through the conclusion of this agreement. The European Parliament is expected to vote on the proposed agreement during its current legislative term.

    MIL OSI Europe News

  • MIL-OSI: Stable versus Struggling: Canada’s Financial Divide Widens

    Source: GlobeNewswire (MIL-OSI)

    – Mortgage Delinquencies Rising in Ontario Amidst Rising Consumer Debt –

    Equifax Canada Market Pulse Quarterly Consumer Credit Trends Report

    TORONTO, Feb. 25, 2025 (GLOBE NEWSWIRE) — A growing financial divide is emerging across Canada, with some borrowers benefiting from lower interest rates while others struggle under mounting debt. According to Equifax Canada’s Q4 2024 Market Pulse Consumer Credit Trends Report, some Ontario mortgage holders are experiencing severe financial distress, with delinquencies more than 50 per cent higher than pre-pandemic levels.

    Total consumer debt in Canada reached $2.56 trillion at the end of 2024, a 4.6 per cent increase over 2023. Non-bank auto loans drove much of this increase, rising 11.7 per cent year-over-year, while the average non-mortgage debt per consumer reached $21,931, exceeding pre-pandemic levels.

    “While some consumers are doing better and seeing financial improvements from lower interest rates, financial pressures have intensified for some Canadians, as well as mortgage holders in certain regions, in particular in Ontario and British Columbia,” said Rebecca Oakes, Vice President of Advanced Analytics at Equifax Canada. “At first glance, the numbers are not concerning, but when we look deeper at a more granular level, many are feeling the strain of high living costs and mortgage renewals with higher payments, while other consumers are doing better and seeing financial improvements from lower interest rates and income growth.”

    For some homeowners, rate cuts have provided some relief. Some borrowers with home equity lines of credit have seen delinquency rates stabilize. Many of these consumers have improved their credit card repayment habits, with more people paying off balances in full.

    Ontario Mortgage Holders Under Pressure and Missing Payments
    More than 11,000 mortgages in Ontario recorded a missed payment in Q4 2024 — nearly three times the number seen in 2022. Mortgage holders who are falling behind in their payments are also carrying substantially higher mortgage balances, reflecting the continued financial strain of higher than pre-pandemic interest rates. The 90+ day mortgage balance delinquency rate in Ontario surged 90.2 per cent year-over-year to 0.22%, far outpacing the change in delinquency rates in other provinces, with BC at 37.7 per cent, Alberta at -3.6 per cent, Quebec at 41.2 per cent, the Prairies (MB and SK) at 0.6 per cent, and the Atlantic provinces (NL, PE, NB, NS) at 15.7 per cent.

    Ontarian mortgage holders are struggling with other forms of debt as well. The 90+ day non-mortgage balance delinquency rate jumped 46.1 per cent from Q4 2023, while other provinces saw smaller rate jumps, with BC at 21.6 per cent, Quebec at 23.3 per cent, Alberta at 6.1 per cent, the Prairies (MB and SK) at 4.1 per cent, and the Atlantic provinces (NL, PE, NB, NS) at 1.5 per cent. In addition, Ontario’s overall rise in non-mortgage delinquency rate was 23.9 per cent, above the national average of 18 per cent.

    “Mortgage holders will typically do everything they can to keep up with payments,” Oakes explained. “The fact that we’re seeing missed payments rise so sharply suggests deeper financial strain. Depending on the type of credit, missed payments have increased from 10 to 80 per cent, compared to pre-pandemic levels.”

    In Toronto, 90+ day non mortgage delinquency rates hit 2.06 per cent, higher than most major cities, reflecting the region’s unique financial challenges.

    Canadian Housing Market: Rebound Tempered by Renewal Challenges

    The overall Canadian mortgage market showed signs of recovery, with new mortgage originations rising 39 per cent year-over-year. First-time homebuyers returned, with a 28.2 per cent increase from the extreme lows of purchases in Q4 2023. Although the average loan amount for first-time buyers remains 6.6 per cent higher than Q4 2023, monthly payments have decreased 7.9 per cent, or $200 lower, to an average loan amount of $2,330.

    Mortgage renewals and refinancing accounted for over 50 per cent of new mortgage originations in Q4 2024, increasing 10.6 per cent from 2023. The average loan amount and balance on mortgage renewals in 2024 surpassed those in 2023 and 2022, with the average balance increasing by 2.9 per cent in 2024 compared to 2023.

    Many consumers renewing their mortgage continue to have higher monthly payments due to elevated interest rates compared to pre-pandemic and pandemic levels, when they last locked in their low rates. This reality is expected to affect around a million mortgages due for renewal in 2025, originating from the low-interest-rate environment of 2020. These borrowers may face significantly higher payments despite recent rate reductions. A quarter of mortgage-holders saw their monthly mortgage payment increase by over $150 at renewal in Q4 2024.

    Consumer Spending and Credit Behaviour

    Credit card debt climbed 7.8 per cent in Q4 2024, though at the slowest rate since 2022. Seasonal spending in December hit a two-year high, with average credit card purchases adjusted for inflation reaching $2,228 per cardholder, a 2.2 per cent increase from 2023.

    Younger and lower income Canadians are experiencing missed payments on credit cards, auto loans, and lines of credit, signaling financial strain among these groups.

    “Despite recent rate cuts and GST tax relief, challenges persist for certain consumers, particularly in consumer debt and housing. The added uncertainty of U.S. tariffs underscores the need for a balanced approach to debt, affordability, and trade. The coming year will be critical for Canada’s economic stability,” said Oakes.

    Age Group Analysis – Debt & Delinquency Rates (excluding mortgages)

      Average
    Debt
    (Q4 2024)
    Average Debt Change
    Year-over-Year
    (Q4 2024 vs. Q4 2023)
    Delinquency Rate ($)
    (Q4 2024)
    Delinquency Rate ($) Change
    Year-over-Year
    (Q4 2024 vs. Q4 2023)
    18-25 $8,483 3.84% 1.92% 15.17%
    26-35 $17,467 0.87% 2.24% 21.24%
    36-45 $27,042 1.96% 1.85% 23.20%
    46-55 $34,564 3.71% 1.33% 19.04%
    56-65 $28,714 5.53% 1.11% 14.26%
    65+ $14,635 3.82% 1.11% 5.55%
    Canada $21,931 2.98% 1.53% 17.98%


    Major City Analysis
    – Debt & Delinquency Rates (excluding mortgages)

    City Average
    Debt
    (Q4 2024)
    Average Debt Change
    Year-over-Year
    (Q4 2024 vs. Q4 2023)
    Delinquency Rate ($)
    (Q4 2024)
    Delinquency Rate ($) Change
    Year-over-Year
    (Q4 2024 vs. Q4 2023)
    Calgary $24,078 0.81% 1.67% 16.23%
    Edmonton $23,665 -0.22% 2.17% 19.00%
    Halifax $21,278 1.46% 1.53% 21.37%
    Montreal $17,057 3.16% 1.43% 20.48%
    Ottawa $19,634 1.75% 1.47% 24.45%
    Toronto $21,054 3.34% 2.06% 23.75%
    Vancouver $23,251 4.12% 1.24% 15.81%
    St. John’s $23,968 1.02% 1.47% 3.62%
    Fort McMurray $37,861 0.26% 2.41% 11.72%


    Province Analysis
    – Debt & Delinquency Rates (excluding mortgages)

    Province Average
    Debt
    (Q4 2024)
    Average Debt Change
    Year-over-Year
    (Q4 2024 vs. Q4 2023)
    Delinquency Rate ($)
    (Q4 2024)
    Delinquency Rate ($) Change
    Year-over-Year
    (Q4 2024 vs. Q4 2023)
    Ontario $22,597 3.51% 1.64% 23.91%
    Quebec $19,156 2.83% 1.08% 16.88%
    Nova Scotia $21,349 2.45% 1.66% 9.28%
    New Brunswick $21,548 2.71% 1.68% 5.80%
    PEI $23,664 3.44% 1.23% 14.34%
    Newfoundland $24,843 3.82% 1.49% 0.05%
    Eastern Region $22,272 2.88% 1.59% 6.32%
    Alberta $24,537 0.74% 1.91% 17.11%
    Manitoba $18,150 2.64% 1.69% 3.14%
    Saskatchewan $23,265 2.29% 1.77% 11.09%
    British Columbia $22,583 3.61% 1.36% 14.16%
    Western Region $22,911 2.34% 1.64% 14.09%
    Canada $21,931 2.98% 1.53% 17.98%

    * Based on Equifax data for Q4 2024

    About Equifax
    At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.

    Contact:

    Andrew Findlater
    SELECT Public Relations
    afindlater@selectpr.ca
    (647) 444-1197

    Angie Andich
    Equifax Canada Media Relations
    MediaRelationsCanada@equifax.com

    The MIL Network

  • MIL-OSI Economics: Secretary-General of ASEAN meets the French Ambassador for Indo-Pacific in Ha Noi

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with the Ambassador of France for Indo-Pacific Marc Abensour, on the sidelines of the 2nd ASEAN Future Forum in Hanoi, Viet Nam. Both sides discussed ways and means to strengthen the ASEAN-France Development Partnership, particularly in areas under the ASEAN Outlook on the Indo-Pacific (AOIP).

    The post Secretary-General of ASEAN meets the French Ambassador for Indo-Pacific in Ha Noi appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI Economics: Secretary-General of ASEAN meets with the UK Delegation at the 2nd ASEAN Future Forum

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with the UK Delegation led by Foreign, Commonwealth and Development Office (FCDO) Director of Southeast Asia and Pacific Directorate Charles Hay, on the margins of the 2nd ASEAN Future Forum. They discussed ways and means to further substantiate the ASEAN-UK Dialogue Partnership and identified mutually beneficial opportunities for future cooperation.

    The post Secretary-General of ASEAN meets with the UK Delegation at the 2nd ASEAN Future Forum appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI Europe: ASIA/PHILIPPINES – Sister Ana, a missionary among young Filipinos: this is how we help them discover their talents

    Source: Agenzia Fides – MIL OSI

    Tuesday, 25 February 2025

    Photo: Suor Ana Palma

    by Pascale RizkSan Carlos (Agenzia Fides) – A few days ago the seventh edition of the “Asian Mission” initiative ended, which this year had the motto “Made for a mission. Made for peace”. The event brought together 50 participants, including eight young people from Japan, five from the diocese of Daejon in South Korea, five from the Philippine diocese of Nampicuan and two from San Fabian, as well as 30 young people from the “Servants Missionary Youth” group from Malasiqui. The meeting, organized by the Congregation of the Servants of the Gospel of the Divine Mercy, takes place once a year and was held from February 6 to 16 in San Carlos, in the Philippine province of Pangasinan.”While young people in the Philippines suffer from poverty, young people in South Korea and Japan suffer from their families’ crushing expectations of success within a very competitive, rigid and demanding social system that causes a high suicide rate. The Asia Mission initiative aims to support all these young people,” says Sister Ana Palma, a Spanish missionary who has been in the Philippines with her community since 2015. “By creating this space, we want to sensitize young people to realities that are different from their own.””They should experience ‘human fraternity’ by being able to participate in pastoral activities with young people, children and university students. At the Pangasinan State University, young people meet with the university pastoral staff to share experiences of life in their respective societies and discuss ways to promote peace. In general, games, workshops and key meetings are held on human values such as freedom of expression, human dignity and work, depending on the age group,” explains the nun.San Carlos is 122 kilometers from Manila and is characterized by great poverty. It is usually the fathers who provide for the families by working in agriculture; families are made up of an average of five or six people and the most common work is building bamboo houses, called “Bahay-kubo”. The daily wage is 450 pesos, which is about 9,900 pesos a month, or about 200 euros. Women who do the cleaning work receive 350 pesos a day. With this income, families cannot afford to send all their children to university, and they only choose those who have the best prospects of success.The different needs of these young people also include the financial aspect. The parishes promote university scholarships of 1,500 pesos (about 26 euros) per month for the entire academic year. “My community sponsors 20 students with financial support of 1,750 pesos – 360 euros per year – from private donors,” adds Sister Ana, who continues: “Our work with young people aims above all to give them the confidence to change their lives. We encourage them to discover their potential, their talents and abilities. They are all very gifted, but at the same time they are crushed by the reality of poverty, which always makes them underestimate their potential.”According to Sister Ana, young people who are unable to continue their studies at university help their fathers with construction work, and the girls act as “laundresses,” washing the clothes by hand for families who do not have washing machines. It also happens that girls enrolled in university have difficulty paying the exam fees and therefore turn to prostitution.In addition to their work with young people, the missionaries of the Congregation of the Servants of the Gospel of Divine Mercy are involved in children’s catechism in parishes, in the distribution of the Eucharist to the elderly from door to door and in various educational, recreational and entertainment programs for young people. Every week, the missionary community meet with the youth group of the “Servants Missionary Youth” to pray. “The strength and power of prayer is very important. Filipino Catholics have a strong sense of popular piety,” emphasizes the missionary from Granada.”I am very happy that these young people, who come from very poor families – I know, for example, a family with up to fourteen members – can study at university. Many study nursing, political science or education. It is beautiful to see how they mature through open-mindedness,” says Sister Ana, “Even if, unfortunately,” reports Sister Ana, “today many are leaving the Catholic Church to join the ‘Born Again’ sect, attracted by music and animation”. (Agenzia Fides, 25/2/2025)
    Photo: Suor Ana Palma

    Photo: Suor Ana Palma

    Photo: Suor Ana Palma

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    MIL OSI Europe News

  • MIL-OSI Submissions: Asia Pacific – Regional UN forum calls for targeted and evidence-based solutions to speed up sustainable development progress

    Source: United Nations – ESCAP

    Sustained economic growth in Asia and the Pacific has lifted millions out of poverty. Yet, the attainment of the 17 Sustainable Development Goals (SDGs) by 2030 remains well beyond the region’s grasp as less than a sixth of SDG targets will be met on current trends.

    At the opening of the 12th Asia-Pacific Forum on Sustainable Development today, government officials, civil society, youth and international organization representatives called for prioritized, targeted actions with strong multiplier effects across different sectors so that the region moves closer to as many targets as possible.

    “With the technology and finance that drive the world now largely coming from the region, the means to attain sustainable development lie within us. Our commitments must be translated into concrete actions,” urged Armida Salsiah Alisjahbana, United Nations Under-Secretary-General and Executive Secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP).

    “This region has immense potential to accelerate SDG progress – through action to harness the power of technology, accelerate the energy transition and transform food systems, driving progress across all the Goals,” said United Nations Deputy Secretary-General Amina J. Mohammed in her video remarks. “Use your voice to ensure that the needs and priorities of this region shape action over the coming years.”

    Asia and the Pacific faces defining challenges, urgent actions needed

    With recent years being the warmest on record, the world is rapidly approaching the critical +1.5°C threshold. The consequences — ranging from disruptions in agriculture and health to the increasing frequency of disasters and challenges for human settlements — are set to reshape livelihoods and economies. Delegates at the opening further called for urgent action to mitigate climate change risks and build resilience. This includes an accelerated shift towards renewable energy and regional power systems, integrating cooling solutions into sectoral policies and investing in climate adaptation to safeguard communities.

    Additionally, they drew attention to the fundamental demographic shift taking place with increasingly ageing populations, especially in countries still developing. Delegates highlighted the need to invest in future generations: better education, health and youth employment as well as intergenerational collaboration to ensure everyone remain well-integrated into society.

    “It is time to move beyond conversations, trust young people with inclusive, innovative and science-based solutions and facilitate intergenerational linking and learning for a cohesive sustainable development agenda,” said Shayal Nand, who presented the Youth Call to Action at the session.

    Speaking on behalf of the Asia-Pacific Regional Civil Society Engagement Mechanism, Beena Pallical said, “We call on all states and UN agencies to commit to comprehensive redressal of systemic barriers, centering people and the planet over profits, in line with the principle of equity and inclusivity to realize development justice for a far better world for our tomorrow.”

    APFSD serves as a crucial regional platform to shape global development dialogue

    Suman Bery, Vice Chair of NITI Aayog of India was elected Chair of the session. He underscored the Forum’s importance as a key platform to review regional progress and discuss sustainable development priorities moving forward at a fast pace.

    Over the next four days, Forum participants will undertake an in-depth review of the region’s progress on Sustainable Development Goals 3 (good health and well-being); 5 (gender equality); 8 (decent work and economic growth); 14 (life below water) and 17 (partnership for the Goals). The outcome of the regional Forum will feed into the global High-Level Political Forum in July.

    Bob Rae, President of the United Nations Economic and Social Council noted that of the 39 countries that will present their Voluntary National Reviews at the High-Level Political Forum in July in New York, 12 are ESCAP members. “This very strong number demonstrates the region’s commitment to evidence-based follow-up and shared learning which is so critical in pursuit of the SDGs,” he said.

    ESCAP, ADB and UNDP launch report on advancing a just transition

    At the Forum, ESCAP, the Asian Development Bank and the United Nations Development Programme jointly launched the latest edition of the Asia-Pacific SDG Partnership Report 2025, which highlights the critical need for a just transition to green and blue economies. This is a necessary step to addressing climate change while ensuring sustainable development, but it must be fair and inclusive, creating decent work opportunities and leaving no one behind.

    The report reveals that a just transition has the potential to generate millions of new jobs while addressing the risks of disruptions to employment and livelihoods, particularly for workers in carbon-intensive industries, the informal sector and those lacking social protection. It further highlights more than 50 examples of potential solutions and good practices implemented across the region, showcasing how a just transition can be pursued on many fronts as well as scalable and adaptable across diverse national contexts.

    Note:
    The Asia-Pacific Forum on Sustainable Development is hosted annually by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) to assess regional progress on the Sustainable Development Goals and explore solutions to accelerate action. The forum provides a space for countries to identify regional trends, discuss best practices and lessons learned as well as strengthen regional collaboration to ensure no one is left behind.  

    For more information on the 12th APFSD: https://www.unescap.org/events/apfsd12
     
    Access the full Asia-Pacific SDG Partnership Report 2025: https://www.unescap.org/kp/2025/delivering-just-transition-advancing-decent-work-gender-equality-and-social-protection

    MIL OSI – Submitted News

  • MIL-OSI Submissions: Business – Gebrüder Weiss expands its logistics services in Poland

    Source: Gebrüder Weiss

    Since the beginning of the year, Gebrüder Weiss has been offering partial and full truck loads (LTL / FTL) as well as extended logistics solutions in addition to air and sea freight services / Poland continues to gain in importance as a logistics center for the transport of goods in Europe

    Krakow / Lauterach, February 25, 2025. Gebrüder Weiss is further expanding its transport and logistics services in Poland: since the beginning of 2025, the international logistics company has also been offering its customers national and international partial and full truck loads (LTL / FTL) as well as additional warehousing and logistics solutions, including order picking. Companies can use the myGW customer portal to track their shipments in real time and have all documents available in digital form. The new services complement Gebrüder Weiss’ existing logistics, air and sea freight services on offer since 2020. As a result, the team is growing to 70 employees.

    “Our goal is to offer companies in Poland with a first-class and comprehensive range of logistics services,” emphasizes René Stranz, Area Manager Slovakia and Poland at Gebrüder Weiss. “By combining different modes of transport, our customers will be able to react even more flexibly to market requirements and make their supply chains more efficient in the future.” Poland has become a sought-after production and warehousing location within Europe. Its economy grew three times faster than the EU average in 2024 thanks to rising consumer spending. Poland is an important trading partner and export market, especially for German companies, but also for imports from Asia and the US. At the same time, the transport infrastructure is being continually expanded, including a new major airport with an international freight center.

    Today, Gebrüder Weiss in Poland has branches in Krakow, Wroclaw, Gdynia and Warsaw. Its customers come mainly from the high-tech, automotive, consumer goods and e-commerce industries. In addition to transport, the logistics provider also handles the storage and order picking of pharmaceuticals that require special refrigeration for companies in the pharmaceutical industry. In order to optimize its customers’ supply chains even more comprehensively, the logistics company is also planning to expand its offer as a Lead Logistics Provider in the medium term. “Depending on how the economy develops, further locations are also possible,” says Maciej Szczyglowski, Country Manager Poland Land & Logistics at Gebrüder Weiss. “For example, in Wroclaw or Katowice, where we can imagine new logistics terminals for goods handling.”

    About Gebrüder Weiss

    Gebrüder Weiss Holding AG, based in Lauterach, Austria, is a globally operative full-service logistics provider with about 8,600 employees at 180 company-owned locations. The company generated revenues of 2.46 billion euros in 2023. Its portfolio encompasses transport and logistics solutions, digital services, and supply chain management. The twin strengths of digital and physical competence enable Gebrüder Weiss to respond swiftly and flexibly to customers’ needs. The family-run organization – with a history going back more than half a millennium – has implemented a wide variety of environmental, economic, and social initiatives. Today, it is also considered a pioneer in sustainable business practices. www.gw-world.com

    MIL OSI – Submitted News

  • MIL-OSI Asia-Pac: Budget to go live online tomorrow

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan will deliver the 2025-26 Budget at the Legislative Council tomorrow, from 11am.

    The full text of the Budget Speech, and other related materials, will be released simultaneously on the Budget website.

    The public can also watch a live broadcast of the Budget speech, followed by a Budget-related press conference, a television forum and a radio programme, on the website.

    Copies of the speech and a leaflet highlighting key Budget proposals will be available for collection from the 20 Home Affairs Enquiry Centres.

    MIL OSI Asia Pacific News

  • MIL-OSI China: New air route links China’s Xinjiang, Kuala Lumpur

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

    URUMQI, Feb. 25 — A new air route linking Urumqi, capital of northwest China’s Xinjiang Uygur Autonomous Region, and Kuala Lumpur, capital of Malaysia, via the southern Chinese city of Guangzhou, has been launched.

    The maiden flight left Urumqi Diwopu International Airport on Monday morning, marking the first regular passenger service from Xinjiang to Kuala Lumpur, according to the airport.

    The new route reduces the one-way travel time from Urumqi to Kuala Lumpur to eight hours, offering passengers a more diverse, convenient and efficient travel option, and further boosting cultural and people-to-people exchanges and economic ties between China and Malaysia, said the airport.

    To date, Urumqi Diwopu International Airport has international passenger routes to 23 regions in 20 countries, including Kazakhstan and Kyrgyzstan.

    Xinjiang’s tourism revenue jumped by 21 percent to over 359 billion yuan (about 50.05 billion U.S. dollars) last year with more than 300 million tourist visits received.

    Since November 2023, China has continuously adjusted and optimized its visa-free transit policy to boost openness and people-to-people exchanges. Last year, over 20.1 million foreign visitors entered China under the visa exemption policy, marking a year-on-year increase of 113.5 percent in eligible transit visa-exemption travelers.

    MIL OSI China News

  • MIL-OSI Economics: Trump’s tariffs threaten profitability of North American insurers, says GlobalData

    Source: GlobalData

    Trump’s tariffs threaten North American insurers’ profitability, says GlobalData

    Posted in Insurance

    On 1 February 2025, US President Donald Trump signed three executive orders to impose tariffs on imports from Canada, Mexico, and China. In retaliation, Canada announced it would impose a 25% tariff on CAD155 billion ($117.8 billion) worth of US goods. Moreover, Trump increased the US tariff rate on steel and aluminum to 25% on 10 February, removing country-specific exceptions and quota arrangements. Consequently, North American region insurers may see increased claims costs in 2025 across various insurance lines, potentially affecting their profitability, says GlobalData, a leading data and analytics company.

    After discussions between the US President and leaders from Mexico and Canada, the proposed tariffs on imports from Canada and Mexico and the retaliatory tariff are delayed by a month. In its retaliation, Canada specified that tariffs on CAD30 billion ($22.8 billion) would take effect immediately from 4 February 2025, and tariffs on the remaining CAD125 billion ($95 billion) would follow within 21 days. Set to take effect on 12 March 2025, the US tariffs will impact imports of millions of tons of steel and aluminum, affecting goods previously duty-free from countries like Canada, Brazil, Mexico, and South Korea.

    Manogna Vangari, Insurance Analyst at GlobalData, comments: “Upon implementation, high tariffs will significantly affect trade throughout North America, not solely due to the substantial volume of commerce but also owing to the critical role of supply chains, which account for more than half of intra-regional trade, as per GlobalData’s estimates.

    “Furthermore, the Trump administration plans to raise tariffs on oil and gas in March 2025. This is expected to have a detrimental impact on the insurance industry, manifested by reduced economic activity and consumer spending. However, it is expected that Canada, Mexico, and China will soon contest these tariffs by initiating a legal case with the World Trade Organization (WTO).”

    The North America region’s property and motor insurance claims are projected to represent a 13.4% and 16.1% share of total general insurance claims in 2025. However, the full and actual implementation of the tariff rates may push actual claims even higher. Consequently, the profitability of North America’s general insurance sector is expected to be notably affected, with claims projected to grow at a rate of 6.9% in 2025 from 3.3% in 2024.

    According to GlobalData’s Global Insurance Database, North America’s general insurance industry is expected to grow at a compound annual growth rate (CAGR) of 6.7% over 2025–29, from $2.7 trillion in 2025 to $3.5 trillion in 2029, in terms of written premiums.

    Vangari continues: “Tariffs on imported materials like building supplies, car parts, and electronics will increase the cost of vehicle repairs and property reconstruction after disasters, causing insurers to pay more claims across the region. Insurance companies may raise premiums for property and motor policies.”

    Around 90% of auto exports from Mexico and Canada go to the US, according to the Mexican and Canadian Automotive Manufacturers’ Associations. High tariffs and supply chain delays will increase repair times, causing higher costs for living arrangements and rental vehicles, and protracted business interruptions. This could impact the competitiveness of the North American production and manufacturing industry, and the insurance industry.

    Vangari concludes: “A global trade war is a looming concern. If tariffs escalate or supply chains get tangled, economic growth could take a hit, which would change the fundamental risk pool for insurers across North America’s region. As broader tariffs on Canada and Mexico remain on hold, businesses and insurance companies must prepare for potential adverse outcomes across the region in the next few years.”

    MIL OSI Economics

  • MIL-OSI Economics: Tesla job postings suggest renewed focus on India, reveals GlobalData

    Source: GlobalData

    Tesla is ramping up its hiring efforts in India, marking a pivotal move in its strategy to strengthen its presence in the country. The recent job postings across various roles highlights the American electric vehicle (EV) and clean energy company’s renewed focus on establishing a foothold in India’s rapidly growing EV market, underscoring its long-awaited expansion plans, according to GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Job Analytics Database reveals that the company has posted around 15 jobs in February 2025 across Mumbai and Pune, reflecting its commitment to building a strong sales, service, and support network in India.

    Tesla’s hiring strategy in India is aimed at driving growth and increasing brand presence in the market. The company is focusing on building a strong service infrastructure, improving customer engagement, and expanding its market share through targeted marketing strategies.

    Sherla Sriprada, Business Fundamentals Analyst at GlobalData, comments: “These job postings indicate a focus on areas such as charging, engineering & information technology, vehicle service, sales & customer support, operations & business support, among others. This also indicates plans for possibly more hires and setting up new EV market team in India.”

    Tesla is focusing on strengthening its sales support infrastructure with the introduction of Consumer Engagement Manager positions. These roles are pivotal in analyzing local market trends, generating leads, and supporting the sales process through content creation, event management, and targeted marketing strategies.

    Additionally, Tesla is prioritizing exceptional customer service by recruiting Service Advisors and Parts Advisors. These positions are designed to address customer concerns, oversee vehicle servicing, manage parts inventory, ensure effective communication, and ultimately deliver a seamless customer experience

    A deep dive into GlobalData’s News Database also reveals several media reports indicating that the company is already scouting for showroom sites in some Indian cities.

    Sriprada concludes: “The recent job postings, along with media reports on potential showroom locations, not only suggest the company’s renewed focus on the Indian market but also its serious strategic intent to establish a strong operational presence in the country.”

    MIL OSI Economics

  • MIL-OSI Economics: Huawei’s FDD Tri-Band Massive MIMO Goes Global, Boosting 4G Capacity and 5G Experience Feb 25, 2025

    Source: Huawei

    Headline: Huawei’s FDD Tri-Band Massive MIMO Goes Global, Boosting 4G Capacity and 5G Experience
    Feb 25, 2025

    [Shenzhen, China, February 25, 2025] Huawei officially initiated the global commercial deployment of its FDD tri-band Massive MIMO (1.8 GHz, 2.1 GHz, and 2.6 GHz) to help operators maximize the value of sub-3 GHz spectrum. The solution meets the growing demand for 4G network traffic and unlocks traffic dividends, while further improving service experience for 5G users.
    Commercial deployment has started in several African countries, including Nigeria, Angola, and Côte d’Ivoire. Operators have found that the FDD tri-band Massive MIMO outperforms the conventional 4T4R solution by handling 90% more 4G traffic during busy hours, increasing user-perceived speeds by 320%, and reducing physical resource block (PRB) usage by 50%. Operators in 15 countries across Asia Pacific, Central Asia, and Latin America will deploy this solution soon.
    Market Demand Drives Technological Innovation
    Africa’s rapid urbanization and large population are driving the rapid growth of mobile data needs. 4G traffic demand increases by 50% every year, which causes widespread service congestion and leaves operators in the region with user experience deterioration challenges. Although conventional Massive MIMO technology has been deployed at some sites, networks are still heavily loaded, underscoring the need for a more efficient capacity solution.
    Huawei’s FDD tri-band Massive MIMO solution uses state-of-the-art Real Wide Bandwidth and Compact Dipole technologies to enable the 1.8 GHz, 2.1 GHz, and 2.6 GHz bands to share the same filter, antenna array, and power amplifier. It offers outstanding performance and is the smallest, lightest, and most energy-efficient in its class. Compared to the conventional Massive MIMO capacity expansion solution, this product is 48% lighter and smaller, uses 10% less power, and significantly reduces tower rental and electricity costs. This product also delivers better 4G and 5G network experiences to users. It leverages industry-leading intelligent beamforming and TM4-TM9 joint scheduling algorithms to boost 4G downlink capacity by three to four times. And after evolution to 5G, the capacity gain compared to 4G 4T4R can reach up to seven times and the uplink coverage can be improved by 8 dB.
    Upgrading Network Capabilities Through Innovation
    “The current and future rapid increase in 4G and 5G service traffic, along with the explosive growth of mobile AI services, will require higher uplink bandwidth and wider coverage,” said Fang Xiang, Vice President of Huawei Wireless Network Product Line. “This is not only an opportunity for service development, but also a challenge for networks. We have been working closely with global operators to tackle network development hurdles by pursuing innovations in core technologies and solutions. We are committed to helping operators boost revenue, cut costs, and enhance efficiency, advancing towards a fully connected, intelligent world.”

    MIL OSI Economics

  • MIL-OSI Economics: Huawei’s FDD Tri-Band Massive MIMO Goes Global, Boosting 4G Capacity and 5G Experience

    Source: Huawei

    Headline: Huawei’s FDD Tri-Band Massive MIMO Goes Global, Boosting 4G Capacity and 5G Experience

    [Shenzhen, China, February 25, 2025] Huawei officially initiated the global commercial deployment of its FDD tri-band Massive MIMO (1.8 GHz, 2.1 GHz, and 2.6 GHz) to help operators maximize the value of sub-3 GHz spectrum. The solution meets the growing demand for 4G network traffic and unlocks traffic dividends, while further improving service experience for 5G users.
    Commercial deployment has started in several African countries, including Nigeria, Angola, and Côte d’Ivoire. Operators have found that the FDD tri-band Massive MIMO outperforms the conventional 4T4R solution by handling 90% more 4G traffic during busy hours, increasing user-perceived speeds by 320%, and reducing physical resource block (PRB) usage by 50%. Operators in 15 countries across Asia Pacific, Central Asia, and Latin America will deploy this solution soon.
    Market Demand Drives Technological Innovation
    Africa’s rapid urbanization and large population are driving the rapid growth of mobile data needs. 4G traffic demand increases by 50% every year, which causes widespread service congestion and leaves operators in the region with user experience deterioration challenges. Although conventional Massive MIMO technology has been deployed at some sites, networks are still heavily loaded, underscoring the need for a more efficient capacity solution.
    Huawei’s FDD tri-band Massive MIMO solution uses state-of-the-art Real Wide Bandwidth and Compact Dipole technologies to enable the 1.8 GHz, 2.1 GHz, and 2.6 GHz bands to share the same filter, antenna array, and power amplifier. It offers outstanding performance and is the smallest, lightest, and most energy-efficient in its class. Compared to the conventional Massive MIMO capacity expansion solution, this product is 48% lighter and smaller, uses 10% less power, and significantly reduces tower rental and electricity costs. This product also delivers better 4G and 5G network experiences to users. It leverages industry-leading intelligent beamforming and TM4-TM9 joint scheduling algorithms to boost 4G downlink capacity by three to four times. And after evolution to 5G, the capacity gain compared to 4G 4T4R can reach up to seven times and the uplink coverage can be improved by 8 dB.
    Upgrading Network Capabilities Through Innovation
    “The current and future rapid increase in 4G and 5G service traffic, along with the explosive growth of mobile AI services, will require higher uplink bandwidth and wider coverage,” said Fang Xiang, Vice President of Huawei Wireless Network Product Line. “This is not only an opportunity for service development, but also a challenge for networks. We have been working closely with global operators to tackle network development hurdles by pursuing innovations in core technologies and solutions. We are committed to helping operators boost revenue, cut costs, and enhance efficiency, advancing towards a fully connected, intelligent world.”

    MIL OSI Economics

  • MIL-OSI Economics: Hong Kong card payments market to surpass $185 billion in 2025, forecasts GlobalData

    Source: GlobalData

    Hong Kong card payments market to surpass $185 billion in 2025, forecasts GlobalData

    Posted in Banking

    The card payment market in Hong Kong is poised to register 11.0% growth in 2025, reaching HKD1.5 trillion ($186.5 billion), driven by rising consumer spending and growing consumer preference for electronic payments, reveals GlobalData, a leading data and analytics company.

    GlobalData’s latest report, “Hong Kong (China SAR) Cards and Payments: Opportunities and Risks to 2028,” reveals that card payment value in Hong Kong registered a growth of 15.7% in 2023, driven by the rise in consumer spending. The value grew further to register an estimated growth of 12.2% in 2024 to reach HKD1.3 trillion ($168.1 billion).

    Shivani Gupta, Senior Banking and Payments Analyst at GlobalData, comments: “Cash payments are on the decline in Hong Kong as electronic methods increasingly gain popularity, supported by a high adult population, rising consumer awareness of electronic payments and a well-established payment infrastructure. This shift in consumer behavior signals a move away from conventional payment approaches to embrace digital alternatives.”

    Among the card types, credit and charge cards accounted for 77.7% share of the overall card payment value in 2024. This is mainly due to the value-added benefits associated with these cards, such as flexible payment options and reward programs.

    Debit cards, on the other hand, account for the remaining 22.3% share. Although debit cards are traditionally preferred for cash withdrawals, they are now increasingly being used for payments as well, especially low-to-medium value transactions. Consumers are embracing debit cards, with the domestic scheme Electronic Payment Service (EPS) driving growth. EPS cards are accepted at over 30,000 merchant locations in Hong Kong and Macau.

    Gupta adds: “Widespread adoption and usage of contactless cards are contributing to overall card payments usage. Consumers and merchants in Hong Kong are increasingly becoming aware of the benefits of contactless cards, leading to their increased usage. According to GlobalData’s 2024 Financial Services Consumer Survey*, over 56% of the respondents in Hong Kong indicated having access to a contactless card and used it for payments.”

    The rising usage of contactless payments for public transport payments is also contributing to card payments growth. For instance, in August 2024, Mastercard announced its integration into the mass transit railway system MTR Corporation’s contactless credit and debit card payment services. This allows Mastercard cardholders to use their contactless payment cards at MTR entry and exit gates when traveling on the MTR heavy rail network, excluding the Airport Express.

    Gupta concludes: “The upward trajectory of Hong Kong’s card payments market is expected to persist in the coming years, driven by the convenience of electronic payments, widespread payment infrastructure, and the increased accessibility of contactless technology. The card payments market is anticipated to increase at a CAGR of 7.3% between 2025 and 2029 to reach HKD1.9 trillion ($247.5 billion) in 2029.”

    *GlobalData’s 2024 Financial Services Consumer Survey was carried out in Q2 2024. Approximately 67,292 respondents aged 18+ were surveyed across 41 countries.

    MIL OSI Economics

  • MIL-OSI Economics: Development Asia: Expanding Access to Housing in Uzbekistan through Market Reforms

    Source: Asia Development Bank

    Through the Mortgage Market Sector Development Program, ADB is providing a $50-million policy-based loan to support mortgage market reforms that will economize the government’s housing subsidy and policy framework and create a conducive environment and infrastructure for market-based mortgage lending. It is also providing a $300-million financial intermediation loan to finance the country’s new mortgage refinancing company that enables domestic commercial banks to provide residential mortgage and housing improvement loans. A technical assistance grant of $800,000 supports the implementation of the program.

    Strengthening the policy, regulatory, and legal framework. Findings from a review of the policy, regulatory, and legal framework for the mortgage finance sector and housing market assessment formed the basis for the design of the program. The study recommended that subsidy arrangements be revised to ensure that higher subsidies are provided to lower income households and regressive subsidies are changed.

    Improving the housing strategy and subsidy framework. ADB provided the Ministry of Economy and Finance recommendations on revising the housing finance and subsidy approach as a result of which the government adopted series of changes to enable gradual transformation of state housing programs toward a market-based principles and improving the subsidy targeting.

    Establishing and operationalizing a wholesale mortgage refinance company. The government established the Uzbekistan Mortgage Refinancing Company with ADB support and equity investment from government and commercial banks. It provides banks with access to local currency long-term funding. The company prefinances and refinances eligible mortgage loans and housing improvement loans issued by participating banks at an interest rate close to market rates.

    To support operationalization of the company, the project tapped the Frankfurt School of Finance & Management and its consulting team of experts, most of them active and retired CEOs and board chairpersons of international and national mortgage refinance corporations including from Armenia, France, Malaysia, and Pakistan. The team prepared the company’s business plan, human resources plan, legal framework, institutional arrangement, internal policies and procedures, list of products and services, and risk management plan. The government believed that the first CEO of the mortgage refinancing company was of utmost importance to building everyone’s confidence in this new institution and was directly involved in vetting and hiring the CEO.

    Expanding and improving data collection. The project supported work on improving housing statistics, introducing a housing price index in Uzbekistan, and developing a mortgage market database and website. International experts provided in-person and on-line training to ministries, banks, and other stakeholders. A new system was introduced to collect housing sector data (i.e., mortgage loans by type, terms, program and other categories) through updates to the annual statistical reporting forms for commercial banks. The collected data is also shared with the Ministry of Finance.

    MIL OSI Economics

  • MIL-OSI: Futu to Report Fourth Quarter and Full Year 2024 Financial Results on March 13, 2025

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, Feb. 25, 2025 (GLOBE NEWSWIRE) — Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced that it will report its financial results for the fourth quarter and full year ended December 31, 2024, before U.S. markets open on March 13, 2025.

    Futu’s management will hold an earnings conference call on Thursday, March 13, 2025, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time).

    Please note that all participants will need to pre-register for the conference call, using the link
    https://register.vevent.com/register/BIb8967ae69ba64a7eab0c02d765ce1339.

    It will automatically lead to the registration page of “Futu Holdings Ltd Fourth Quarter and Full Year 2024 Earnings Conference Call”, where details for RSVP are needed.

    Upon registering, all participants will be provided in confirmation emails with participant dial-in numbers and personal PINs to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.

    Additionally, a live and archived webcast of this conference call will be available at https://ir.futuholdings.com/.

    About Futu Holdings Limited

    Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering fully digitalized financial services. Through its proprietary digital platforms, Futubull and moomoo, the Company provides a full range of investment services, including trade execution and clearing, margin financing and securities lending, and wealth management. The Company has embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. The Company also provides corporate services, including IPO distribution, investor relations and ESOP solution services.

    Investor Contact

    Investor Relations
    Futu Holdings Limited
    ir@futuholdings.com

    The MIL Network

  • MIL-OSI Economics: Samsung Launches High-Performance SSD 9100 PRO with PCIe 5.0 Interface – Delivering Breakthrough Performance for AI, Gaming, and Content Creation

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand, today launched the Samsung 9100 PRO SSD, the latest addition to its consumer SSD lineup. Equipped with the PCIe 5.0 interface, the 9100 PRO delivers industry-leading speeds, improved power efficiency, and expanded storage capacity, rendering it the perfect option for gaming, content creation in AI, and multitasking across a wide range of devices, including laptops, desktops, and gaming consoles.
     
    With its advanced architecture, the 9100 PRO offers a significant boost in sequential read and write speeds, reaching up to 14,800 MB/s and 13,400 MB/s. This is a 99% performance improvement over its predecessor, the 990 PRO.
     
    Additionally, its enhanced random read and write speeds, reaching up to 2,200K IOPS and 2,600K IOPS, ensure seamless multitasking and accelerated data processing.  This makes the 9100 PRO an exceptional choice for professional creators managing AI-driven workloads and gaming enthusiasts seeking a truly immersive experience.
     
    “With the launch of the Samsung 9100 PRO SSD, we’re proud to offer a ground-breaking storage solution that sets new standards in speed, power efficiency, and capacity. Designed for the next generation of gaming, content creation, and multitasking, the 9100 PRO’s PCIe 5.0 interface and innovative architecture deliver unmatched performance, enabling professionals and enthusiasts alike to push the limits of their devices. Whether it’s accelerating AI-driven workloads or enhancing the gaming experience, the 9100 PRO is built to keep up with the demands of tomorrow’s technology,” said Puneet Sethi, Vice President, Head of Enterprise & Display Business, Samsung India.
     
    The 9100 PRO is designed with an advanced heat management solution that improves power efficiency by 49% compared to previous models. Its optimized thermal control, achieved through an integrated 8.8mmT heatsink for 1TB to 4TB models and an 11.25mmT heatsink for the 8TB variant, ensures consistent high-speed performance without overheating. The introduction of the 8TB model, a first for Samsung’s consumer NVMe SSD lineup, further enhances the product’s appeal by providing ample storage for high-performance gaming, next-generation content creation, and professional workloads.
     
    Ensuring broad compatibility, the 9100 PRO supports installation across a wide range of devices, including laptops, desktops, and gaming consoles, enabling users to upgrade their systems effortlessly. The SSD is also equipped with Samsung’s proprietary Magician software that offers a suite of optimization tools, streamlined data migration, and advanced security features to enhance functionality and ensure data protection in the long run.
     
    Samsung will roll out the 9100 PRO models worldwide in four capacities — 1TB, 2TB, 4TB, and 8TB. Starting March 18, 2025, the 1TB, 2TB, and 4TB models, along with the 8TB model is expected to be released in the second half of 2025. The manufacturer’s suggested retail prices (MSRPs) for the 1TB, 2TB, and 4TB variants are set at INR 14999, INR 25499, and INR 49999, respectively.
     
    For further details on availability, warranty, and technical specifications, please visit samsung.com/SSD or semiconductor.samsung.com/internal-ssd.

    MIL OSI Economics

  • MIL-OSI: BlackLine Expands Bengaluru Operations to Drive Global Growth and Innovation

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, Feb. 25, 2025 (GLOBE NEWSWIRE) — BlackLine, Inc. (Nasdaq: BL), the intelligent financial data platform that powers the modern Office of the CFO, announced today the expansion of its presence in Bengaluru, India, reinforcing its commitment to global growth, operational scalability, and continuous, best-in-class customer support.

    Scaling to Meet Growing Demand

    Since establishing operations in Bengaluru in 2022, BlackLine has steadily expanded its teams in the region to meet increasing demand for its solutions. The new 50,000-square-foot office strengthens BlackLine’s ability to provide continuous service, accelerate product development, enhance operational efficiencies, and support coverage across multiple time zones.

    “Our Bengaluru expansion represents a critical step in our continued commitment to scaling our global operations and enhancing support for customers worldwide,” said Therese Tucker, Founder and co-CEO at BlackLine. “India’s deep talent pool and thriving technology ecosystem make it an ideal location to drive innovation, expand our capabilities, and accelerate our global impact to meet growing customer demand.”

    Enhancing Innovation and Customer Support

    The expanded facility includes a Network Operations Center (NOC) to enhance system monitoring and support BlackLine’s global infrastructure, strengthening the company’s already-leading ability to provide real-time assistance to customers across different regions. The space also serves as a hub for BlackLine’s engineering, customer success, and operations teams, fostering greater collaboration and agility in delivering new solutions.

    “Bengaluru has been an essential part of BlackLine’s global strategy, and this new office reflects our commitment to innovation and operational excellence,” said Raghu Dwarakanath, Managing Director, India. “With this expansion, we are better positioned to enhance customer engagement, drive product advancements, and strengthen our ability to support finance and accounting teams as they transform their financial operations.”

    Customer Perspective: Strengthening Local Support & Innovation

    Leading organizations in the region are already seeing the benefits of BlackLine’s expanded presence.

    “With BlackLine’s expanded presence in Bengaluru, we look forward to even greater collaboration, faster innovation, and stronger local support to drive our finance transformation efforts”, said Mr. Narottam Sharma, CIO, Jubilant FoodWorks.”

    Commitment to Global Growth

    The launch of the Bengaluru office marks the latest step in BlackLine’s broader strategy to strengthen its global presence and innovation capabilities. With an expanded footprint in India, the company is well-positioned to drive customer success, accelerate product innovation, scale its world-class support, and further its mission to inspire, power, and guide digital finance transformation worldwide.

    About BlackLine

    BlackLine is the intelligent financial data platform that powers the modern Office of the CFO. As the central nervous system for financial data, BlackLine seamlessly connects systems, automates workflows, and orchestrates the complex flow of financial information across the enterprise. By transforming raw transactions into strategic insights, BlackLine empowers finance & accounting teams to achieve future-ready financial operations that are accurate, efficient, and intelligent.

    Media Contact

    Samantha Darilek
    VP, Communications
    P. 877-777-7750
    E: samantha.darilek@blackline.com

    The MIL Network

  • MIL-OSI Asia-Pac: Art fair funding rejection explained

    Source: Hong Kong Information Services

    The Culture, Sports & Tourism Bureau today said an art fair that has been cancelled was not offered funding from the Mega Arts & Cultural Events Fund due to inadequate information being provided by its organisers.

    The bureau made the statement in response to discussions and media enquiries arising from the cancellation of the event, which was originally scheduled to take place next month.

    The bureau explained that the fair did apply to the Mega Arts & Cultural Events Fund, but failed to provide adequate information for assessment of its artistic merits, attractiveness to tourists, economic benefits, and other aspects. As such, the fund did not award funding to the fair.

    When the fund received the application, tickets for the event were already on sale.

    The bureau appealed to event organisers to prepare sufficient funding for their events before tickets are put on sale in order to avoid cancellations and having to issue ticket refunds due to insufficient resources.

    It said the fair’s organisers should handle cancellation and ticket refund arrangements properly, and maintain good communication with affected ticket holders.

    MIL OSI Asia Pacific News

  • MIL-OSI Economics: Secretary-General of ASEAN to participate in the 31st AEM Retreat

    Source: ASEAN

    At the invitation of H.E. Tengku Zafrul Tengku Abdul Aziz, Chair of the ASEAN Economic Ministers’ (AEM) Meeting for 2025, and Minister of Investment, Trade and Industry of Malaysia, Secretary-General of ASEAN, Dr. Kao Kim Hourn, will lead the delegation of the ASEAN Secretariat to participate in the 31st AEM Retreat, scheduled to be held in Johor, Malaysia, on 28 February 2025. This year’s Retreat will consider and discuss Malaysia’s Priority Economic Deliverables (PEDs) for its Chairmanship in 2025 under the theme “Inclusivity and Sustainability,” as well as a number of key initiatives to further integrate ASEAN’s economy, including the ongoing negotiations for the ASEAN Trade in Goods Agreement (ATIGA) upgrade and ASEAN Digital Economy Framework Agreement (DEFA), as well as Timor-Leste’s accession to ASEAN economic agreements, among others. The Retreat will also include an open session with the ASEAN Business Advisory Council (ASEAN-BAC), the Economic Research Institute for ASEAN and East Asia (ERIA), and McKinsey.
    The post Secretary-General of ASEAN to participate in the 31st AEM Retreat appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI Economics: Secretary-General of ASEAN lauds Viet Nam’s achievements at Opening Ceremony of the Photo Exhibition on Viet Nam’s ASEAN Journey

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, this morning started his first official engagement in Hanoi, during his participation in the 2nd ASEAN Future Forum.  He was invited to deliver remarks at the Opening Ceremony of the Photo Exhibition on “Viet Nam’s ASEAN Journey: 30 Years of Progress and Future Aspirations,” held at the Diplomatic Academy of Viet Nam. In his remarks, Dr. Kao highlighted the several achievements of Viet Nam in its ASEAN journey, which includes Viet Nam’s contributions to ASEAN’s efforts to bridge the development gap. Dr. Kao also commended the Photo Exhibition for capturing Viet Nam’s growth as one of ASEAN’s most dynamic and influential members through its photographs, diplomatic artifacts and interactive displays.

    Download the full remarks here

    The post Secretary-General of ASEAN lauds Viet Nam’s achievements at Opening Ceremony of the Photo Exhibition on Viet Nam’s ASEAN Journey appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI Economics: Secretary-General of ASEAN shares his perspectives with The GIOI and Viet Nam Newspaper

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today shared his thoughts and perspectives on regional integration and the ASEAN Community Vision 2045 during an interview with The GIOI and Viet Nam Newspaper, on the sidelines of the 2nd ASEAN Future Forum in Hanoi, Viet Nam.

    The post Secretary-General of ASEAN shares his perspectives with The GIOI and Viet Nam Newspaper appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI: Dassault Systèmes Announces Centric Software’s Acquisition of AI-Powered PXM Solution, Contentserv

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    VELIZY-VILLACOUBLAY, FranceFebruary 25, 2025

    Dassault Systèmes Announces Centric Software’s Acquisition of AI-Powered PXM Solution, Contentserv

    • Contentserv provides the all-in-one cloud-based platform for PIM, DAM, Content Syndication and Digital Shelf Analytics (DSA)
    • Platform enables FMCG companies to craft and optimize product content to reduce time to market, increase product sell-through and curate personalized consumer experiences

    Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today announced that its subsidiary Centric Software, the Product Lifecycle Management (PLM) market leader, has signed an agreement to acquire Contentserv, a leading provider of product information management (PIM) and product experience management (PXM) solutions for an enterprise value
    of €220 million. Centric Software provides the most innovative enterprise solutions to plan, design, develop, source, price and sell products such as apparel, fashion, home, footwear, sporting goods, consumer electronics, cosmetics, food & beverage and luxury to achieve strategic and operational digital transformation goals.

    Founded in Germany in 2000, Contentserv enables fast-moving consumer goods and other companies to create and manage product content intuitively and effectively by means of AI to optimize consumer experiences across all digital sales channels. With Contentserv solutions, retailers, brands and manufacturers are able to execute strategies such as more or simply better product offers, regions and sales channels for increased product sell-through.

    With over 1600 customers in 90 countries, Contentserv users have reported ROI such as a 30% reduction in time to market, 70% faster catalog creation, 75% more accurate product information and increased sales channel coverage in more languages.

    Fashion and consumer goods brands and retailers continue to pivot around changing consumer trends and constantly evolving stock keeping units (SKUs) while also diversifying sales channels including own-stores, own e-commerce sites, marketplaces and social media. Harnessing and leveraging product information from inception through to commercialization are critical steps that not only reduce time to market, improve market success and also ensure accuracy for compliance labeling. Consumer loyalty is also increased via contextualized and personalized brand experiences.

    “At Contentserv, we don’t just manage product data – we transform it into seamless, high-converting product experiences that drive revenue,” explained Michael Kugler, CEO of Contentserv. “This data flows in from multiple sources and formats and consumers expect accurate, rich and engaging product experiences, anytime, anywhere and across every conceivable channel and touchpoint.   “Manufacturers and retailers strive to continuously refine and optimize product presentation based on insights from consumers, competitors and marketplaces. Contentserv meets these challenges with our AI-powered Product Experience Cloud (PXC), transforming product data into real revenue.”

    “We are thrilled to welcome Contentserv to the Centric Software family. Both companies share a customer-focused, innovation culture,” said Chris Groves, CEO of Centric Software. “By integrating Contentserv into the Centric family of solutions – from PLM to planning to competitive market intelligence, pricing & inventory optimization and visual boards – brands, retailers and manufacturers can seamlessly turn product content into enriched, market-ready experiences that drive engagement and conversion. In today’s competitive market, time-to-market and product experience go hand-in-hand. Together with Contentserv, our joint innovations will ensure that the moment a product is developed, it’s enriched, optimized and ready to convert.”

    The transaction is due to close in the coming weeks subject to regulatory approval and other customary conditions for a transaction of this nature.

    ###

    FOR MORE INFORMATION

    Dassault Systèmes’ 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http://www.3ds.com

    ABOUT DASSAULT SYSTÈMES

    Dassault Systèmes is a catalyst for human progress.  Since 1981, the company has pioneered virtual worlds to improve real life for consumers, patients and citizens.  With Dassault Systèmes’ 3DEXPERIENCE platform, 350,000 customers of all sizes, in all industries, can collaborate, imagine and create sustainable innovations that drive meaningful impact.  For more information, visit:  www.3ds.com

    Dassault Systèmes Press Contacts
    Corporate / France        Arnaud MALHERBE        arnaud.malherbe@3ds.com        +33 (0)1 61 62 87 73
    North America        Natasha LEVANTI        natasha.levanti@3ds.com        +1 (508) 449 8097
    EMEA        Virginie BLINDENBERG        virginie.blindenberg@3ds.com        +33 (0) 1 61 62 84 21
    China        Grace MU        grace.mu@3ds.com        +86 10 6536 2288
    Japan        Reina YAMAGUCHI        reina.yamaguchi@3ds.com        +81 90 9325 2545
    Korea        Jeemin JEONG        jeemin.jeong@3ds.com        +82 2 3271 6653
    India        Priyanka PANDEY        priyanka.pandey@3ds.com        +91 9886302179

    Attachment

    The MIL Network

  • MIL-OSI Economics: Panasonic PR People Vlog #6: CES 2025

    Source: Panasonic

    Headline: Panasonic PR People Vlog #6: CES 2025

    Han Ying
    I have experience living in China, the US, and currently live in Japan. When I was a university student, I majored in marketing and minored in communications. I joined the Panasonic Group in 2020, and have worked in the PR department ever since. It’s become a custom of mine to go on many trips abroad, and as an ISFJ (Defender), I love to make plans before every trip. Delicious food and dancing are important parts of my life, too.

    MIL OSI Economics

  • MIL-OSI Russia: Where in Siberia did dinosaurs live?

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    At the popular science marathon “Darwin Week” junior researcher of the A. A. Trofimuk Institute of Oil and Gas Geology and Geophysics of the Siberian Branch of the Russian Academy of Sciences, engineer of the scientific and educational center “Evolution of the Earth” Faculty of Geology and Geography of Novosibirsk State University, paleontologist Vsevolod Efremenko told which dinosaurs lived in Chukotka and Sakhalin, where to look for their remains and how representatives of the paleofauna adapted to life beyond the Arctic Circle. At present, it is reliably known that 12 species of dinosaurs lived in Siberia. Scientists have discovered about 30 places in Russia where their remains have been preserved to this day, but this does not mean that dinosaurs lived only in those places. It is possible that they lived everywhere, but, unfortunately, bones and teeth, and even more rarely – imprints of feathers and fur, are preserved only in certain conditions.

    — Scientists very rarely find complete dinosaur skeletons. Even finding bone joints is a great success for paleontologists. In 95% of cases, they find teeth, vertebrae, bones or their fragments, parts of skulls and jaw fragments. A significant part of the finds are shells, remains of insects and other invertebrates, imprints of fish and fossil plants — in terms of biomass, they all significantly exceeded dinosaurs. In addition, for their remains to be preserved for tens of millions of years, special conditions are required, which are possible when many factors come together, which is a rather rare phenomenon. Nevertheless, all this makes our work more interesting, — said Vsevolod Efremenko.

    The remains of dinosaurs should be looked for in sedimentary rocks, which are the compressed remains of ancient lakes, rivers and swamps. They are usually formed in an aquatic environment, contain fossils and are destroyed fairly quickly on the earth’s surface. The remains of prehistoric animals are not preserved in volcanic and metamorphic rocks. Success in the search for dinosaurs can be expected if it is possible to determine the places where the shores of seas, rivers or lakes, as well as swamps, used to be, and to determine the excavation sites by their contours.

    At the beginning of the Cretaceous period, 145 million years ago, the position of the continents on our planet was already close to the modern one, only the oceans occupied a significantly larger area, and there were no polar ice caps in the polar region. In Siberia and Asia there was a mountainous terrain, and dinosaurs could have lived in the intermountain plains along the banks of rivers and lakes. Closer to the extinction – 66 million years ago – the continents occupied an even closer position to the modern one, and sedimentary basins are almost no longer observed in Siberia. Accordingly, there are almost no sedimentary rocks in which paleontologists can count on finds from that period. Therefore, the remains of dinosaurs of that period could not have been preserved. But in the Far East, the situation was different, so paleontologists discover very interesting finds there.

    — The climate in the Cretaceous period was quite comfortable for dinosaurs — moderate in the Arctic, warm northern in Siberia, and close to subtropical in the Transbaikal Territory. This is evidenced by the climatic reconstruction made on the basis of paleoflora. Dinosaurs could easily settle throughout the territory of Eurasia, Siberia, including Chukotka and Sakhalin. Even in Antarctica, fossil birds are found that once felt quite comfortable in those places, — explained Vsevolod Efremenko.

    The most ancient dinosaurs discovered in Russia lived in the Jurassic period (201-145 million years ago). In Siberia, two of their locations are known – in the Krasnoyarsk and Transbaikal regions.

    The most famous dinosaur of Transbaikalia was found in the vicinity of the village of Kulinda. Scientists have named it Kulindadromeus transbaikaliensis. It lived in these places about 168 million years ago. It was a small non-avian dinosaur of modest size (about the size of an average dog) covered in feathers and scales. It combined bird and reptilian features and was most likely warm-blooded.

    In the Krasnoyarsk Territory, in the vicinity of the village of Sharypovo, the remains of two dinosaurs of the Jurassic period were discovered: several bones of the predatory tyrannosaurid kilesk (a distant relative of the tyrannosaurus) and many bones of several stegosaurs, from which a whole skeleton was later assembled. Surprisingly, the bones of this herbivorous dinosaur were found among numerous shells of prehistoric turtles in a coal quarry.

    — Paleontology is a very creative science. We can guess from individual bones what genus and species of dinosaur they belong to, and then reconstruct the entire skeleton. This was the case with the kileskos, which hunted stegosaurs. The remains of these ancient animals are found next to each other. But in order not to damage the priceless finds, the paleontologist must work very carefully in the excavation. Since all the bones are scattered, it is necessary to clearly record the position of each of them, so that when assembling the dinosaur skeleton, you do not end up with a chimera, — the paleontologist explained.

    In the Cretaceous period (145-66 million years ago), the diversity of dinosaurs was enormous. At least a dozen sites of their remains have been discovered in Siberia. One of the largest is in the vicinity of the village of Shestakovo in the Kemerovo region. It was here that paleontologists found a large number of bones and even entire skeletons of Psittacosaurus sibirica, a small dinosaur that lived here 125-100 million years ago. The remains of the sauropod Sibirotitan were also found at this location — large cervical vertebrae. These 20-ton giants shared this territory with Psittacosaurus, as well as the recently discovered Ceratosaurus kiyakursor. It was a very mobile, long-legged, small dinosaur. Scientists have found parts of its skeleton — the humerus, cervical vertebrae, a fragment of the girdle of the forelimb, as well as the bones of the hind limb in anatomical articulation. Unfortunately, neither the skull nor its parts were found, and scientists cannot yet say with complete certainty whether this dinosaur was a predator or a herbivore.

    The northernmost dinosaur site is Teete in the Republic of Sakha (Yakutia). During the Cretaceous period, the climate here was warm and mild. Here, paleontologists have discovered stegosaurid teeth and vertebrae, as well as sauropod teeth.

    — Over three field seasons, expedition members collected a rich collection of teeth and vertebrae of small therapsids and salamanders. Remains of turtles, fish, lizards and extinct reptiles were also found. Surprisingly, this territory is a refugium — a region where species of ancient animals that have already become extinct in other places have survived for a long time, — said Vsevolod Efremenko.

    The scientist also spoke about other paleontological finds indicating that dinosaurs lived in Chukotka, Sakhalin and the Far East. Herbivorous duck-billed hadrosaurs lived in Chukotka, as well as ceratopsians – it was previously believed that they inhabited only North America. Eggshells were also found, which means that dinosaurs did not end up in the polar latitudes as a result of migration. They constantly lived and reproduced in these places.

    Many significant finds were made in Blagoveshchensk in the Far East. One of the most striking is the duck-billed dinosaur Olorotitan. The uniqueness of the find was that at the time of its discovery it was the most complete articulated dinosaur skeleton discovered in Russia. Its body length was approximately 8 meters, height – 3.5 meters, and weight could reach 3 tons.

    The richest finds were made in the Transbaikal Territory. They belong to the Jehol biota – these are fossil remains of feathered dinosaurs, birds, mammals and plants, which are found in large quantities in the Lower Cretaceous deposits of North-Eastern China. So far, these unique locations of ancient fauna have not been fully studied and, according to Vsevolod Efremenko, there is enough work for many generations of paleontologists.

    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 Economics: Result of the Daily Variable Rate Repo (VRR) auction held on February 25, 2025

    Source: Reserve Bank of India

    Tenor 2-day
    Notified Amount (in ₹ crore) 75,000
    Total amount of bids received (in ₹ crore) 1,15,440
    Amount allotted (in ₹ crore) 75,012
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.26
    Partial Allotment Percentage of bids received at cut off rate (%) 59.18

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2249

    MIL OSI Economics