Category: Asia

  • MIL-Evening Report: Freddy Krueger at 40 – the ultimate horror movie monster (and Halloween costume)

    Source: The Conversation (Au and NZ) – By Adam Daniel, Associate Lecturer in Communications, Western Sydney University

    IMDB/New Line Cinema

    Movie monsters have captivated audiences since the days of early cinema. They evoke fascination and terror, allowing audiences to confront their fears from the safety of the movie theatre or living room.

    Arguably one of the most enduring and captivating of these monsters is Freddy Krueger, the villain of the A Nightmare on Elm Street series who celebrates his 40th screen birthday this November.

    Memorably played by Robert Englund, Freddy quickly became a cultural icon of the 1980s and 1990s. Beyond his burned face and iconic bladed glove, Freddy’s dark humour and acidic personality set him apart from other silent, faceless killers of the era, such as Michael Myers in Halloween or Jason Vorhees in Friday the 13th.

    Written and directed by horror maven Wes Craven, 1984’s A Nightmare on Elm Street garnered positive reviews for its innovative concept: Freddy stalked and attacked his victims in their dreams, making him inescapable and allowing him to tap into their deepest fears. The series (seven films plus a 2010 remake and Freddy vs. Jason spin offs) blended supernatural horror and surrealism with a dark and twisted sense of humour.

    Scary … but funny

    Humour was key to Freddy’s “popularity”. Both sinister and strangely charismatic, Freddy’s psychological torture of his adolescent victims often oscillated between terrifying and amusing.

    A famous kill scene from 1987’s A Nightmare on Elm Street 3: Dream Warriors demonstrates this paradox.

    Aspiring actress Jennifer drifts off to sleep while watching a talk show on TV. In her dream, the host of the talk show suddenly transforms into Freddy, who attacks his guest before the TV blinks out. When Jennifer timidly approaches the TV set, Freddy’s head and clawed hands emerge from the device, snatching her while delivering an iconic one-liner: “This is it, Jennifer – your big break in TV!”

    Freddy turns his victims’ fears or aspirations – their dreams – against them.

    ‘Whatever you do, don’t fall asleep.’

    Creating a monster

    Craven has shared how the character of Krueger came to life in Never Sleep Again: The Elm Street Legacy, an oral history of the series.

    He described a childhood experience of seeing a strange mumbling man walking past his childhood home. The man stopped, he said, and looked directly at him “with a sick sense of malice”. This deeply unsettling experience helped shape Freddy’s menacing presence.

    The character’s creation also emerged from the filmmaker’s interest in numerous reports of Southeast Asian refugees dying in their sleep after experiencing vivid nightmares.

    In the film, Krueger’s origin story reveals him as a child murderer who was apprehended but released due to a technicality in his arrest. Seeking justice, the parents of his victims take matters into their own hands, and form a vigilante mob. They corner him in his boiler room and burn him alive. But Freddy’s spirit survives to haunt and kill the children of his executioners.




    Read more:
    Halloween films: the good, the bad and the truly scary


    Cultural repression, expressed on film

    Film critic and essayist Robin Wood argued horror films often bring to the surface elements society has repressed. These fears, desires, or cultural taboos are not openly acknowledged.

    But movie monsters act as manifestations of what society suppresses, such as sexuality, violence or deviant behaviour. American academic Gary Heba argues Freddy is:

    an example of America’s political unconscious violently unleashed upon itself, manifesting everything that is unspeakable and repressed in the master narrative (perversion, child abuse and murder, vigilantism, the breakdown of rationality, order, and the family, among others), but still always present in the collective unconscious of the dominant culture.

    Actor Robert Englund calls Freddy Krueger ‘the gift that keeps on giving’.

    The monster decades

    The 1970s and 1980s marked a golden era for the creation of horror film nasties like Krueger, Myers, The Texas Chainsaw Massacre’s Leatherface and killer doll Chucky.

    Since then, the landscape of horror has shifted, with fewer singular monsters emerging. The diversification of horror sub-genres (zombie virus horror, anyone?), the rise of psychological horror (Hereditary), and an emphasis on human-driven terror (Wolf Creek) or supernatural forces all contribute to this shift.

    While modern horror continues to thrive, few characters have achieved the same iconic status as Freddy – although some would argue Art the Clown from the recent Terrifier franchise and the reinvigorated Pennywise from IT could join this exclusive group.

    ‘Five, six, grab your crucifix.’ A 2010 Nightmare on Elm St reboot failed to fire.

    Happy Halloween!

    Despite a failed reboot in 2010, the legacy of A Nightmare on Elm Street is strong, having influenced numerous filmmakers with its skilful mix of surrealism and slasher horror.

    However, it’s the orchestrator of the titular nightmares whose legacy is perhaps the strongest.

    With each Halloween, new fans choose Freddy for their costume. All it takes is a tattered striped sweater, a brown fedora hat, and a glove with sharp, finger-lengthening blades. Don’t forget makeup to re-create Krueger’s grisly facial burns. Sweet dreams!

    Adam Daniel 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. Freddy Krueger at 40 – the ultimate horror movie monster (and Halloween costume) – https://theconversation.com/freddy-krueger-at-40-the-ultimate-horror-movie-monster-and-halloween-costume-240905

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Asia-Pac: One more detainee to return to HK

    Source: Hong Kong Information Services

    The Security Bureau today said that a Hong Kong resident who had been detained for illegal work in Myanmar, but was recently rescued and safely arrived in Thailand, will return to Hong Kong on Monday with the bureau’s dedicated task force.

    Members of the task force met the Hong Kong resident at a detention centre last night after his transferral to Bangkok. He was in good mental and physical condition.

    The task force members expressed sympathy to the individual, who expressed gratitude for their visit to Thailand to follow up on his case. He was also pleased to learn that he will be able to return to Hong Kong on Monday.

    Secretary for Security Tang Ping-keung said he was relieved that one more Hong Kong resident was rescued and able to return to Hong Kong to reunite with his family before the Chinese New Year.

    Mr Tang thanked sincerely the Office of the Commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region, the Chinese Embassy in the Republic of the Union of Myanmar, the Chinese Embassy in the Kingdom of Thailand, the Consulate General of the People’s Republic of China in Chiang Mai, the Consulate General of Myanmar in Hong Kong, the Royal Thai Consulate-General, Hong Kong, the Hong Kong Economic & Trade Office in Bangkok and the relevant Thai authorities for their support and assistance as well as importance attached to the case, enabling the return of the Hong Kong resident within a short period of time as far as practicable.

    The security chief also commended the dedicated task force for the committed efforts in following up the case and assisting the Hong Kong resident’s return to Hong Kong as soon as possible.

    The task force, comprising members from the bureau, the Hong Kong Police Force and the Immigration Department, has been contacting and liaising with different parties since their arrival in Thailand on January 21 to discuss the arrangements for the rescued Hong Kong resident to return home as soon as possible and follow up on the 10 remaining request-for-assistance cases.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Appeal for blood donation as stocks down to two days’ supply remaining

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hospital Authority:

         The spokesperson of the Hong Kong Red Cross Blood Transfusion Service (BTS) today (January 25) said the blood inventories have been depleted to a very low level, with only two days of stock remaining. The BTS is allocating blood products based on the urgency level of each patient case’s requirement to ensure the emergency blood transfusion services remain unaffected. If the situation continues, clinical blood transfusion treatments could be affected. The BTS urgently appeals to donors to come forward for blood donation, gathering the strength of Hong Kong residents to promptly replenish the blood inventories.

         The BTS is the only public institution providing blood to all hospitals, public and private, in Hong Kong. Six hundred and fifty units of blood is needed daily to meet the needs of all hospital across the city. Over the past month, the BTS collected an average of around 500 units of blood daily, with a shortfall of 150 units. In January 2025, the number of blood collection has dropped around 20 per cent as compared to the same period last year, with almost 3 000 units fewer. Due to the influenza season, many registered blood donors were unable to donate due to influenza infection. Additionally, the increase in citizens traveling abroad during the holidays has further reduced the willingness to donate blood, significantly impacting the overall number of blood donations.

         As the service surge of public hospital kick-started, daily blood usage of hospitals increased by 10 per cent as compared to last year’s figure. With the shortfall in blood collection, the BTS is allocating blood products based on the urgency level of each patient case’s requirement to ensure emergency blood transfusions remain unaffected. The Chief Executive and Medical Director of the BTS, Dr Lee Cheuk-kwong said, “There’s a significant increase in the number of cases that require large amount of blood products this month. We have received 14 cases requiring a large amount of blood for transfusion and 247 units of blood were needed for the cases of lung transplant, liver transplant, post-partum hemorrhage, blood cancer, heart diseases and thalassemia major etc.”

         Most BTS donor centres will open during the Chinese New Year (see Annex 1), and the public is welcome to make an appointment for donation. Members of the public aged between 16 and 65 (donation is possible up to the age of 75 if predetermined conditions are met), weighing 41 kilograms or above and in good health are eligible to give blood. The BTS reminds donors to make an appointment via the “HK Blood” mobile app, or by calling BTS donor centres. The “HK Blood” mobile app users will receive double points to redeem rewards for successful donation from now until January 28. For details, visit: www.ha.org.hk/rcbts.

         As a token of appreciation, member of the public who donates successfully from January 29 to February 1 will receive a CAPTAIN BLOOD New Year Goodie Bag (see Annex 2), while stocks last.

    MIL OSI Asia Pacific News

  • MIL-OSI China: Beijing, Shanghai, Hong Kong rank among top 10 innovation cities globally: report

    Source: China State Council Information Office 2

    Beijing, Shanghai and Hong Kong rank among the world’s top 10 innovation cities, alongside other cities from the United States, Britain and Japan, according to a recently released assessment report on sci-tech innovation.
    The report, published on Friday, was compiled by the Shenzhen International Science and Technology Information Center, the Center for Industrial Development and Environmental Governance of Tsinghua University, and research publishing and information analytics company Elsevier, the Science and Technology Daily reported on Saturday.
    The report is based on the collaborative development index of education, sci-tech and talent, and offers an in-depth evaluation of 30 cities around the world. It aims to provide insights into global urban innovation and development trends and highlights the strength of cities in science and technology innovation.
    The top 10 innovation cities are Boston, San Francisco, Beijing, London, New York, Los Angeles, Seattle, Shanghai, Hong Kong and Tokyo.
    In terms of education, Boston, London and Hong Kong rank as the top three, while London, Beijing, Shanghai and New York are cities with relatively balanced development in both basic and higher education.
    From the perspective of innovation, San Francisco, Boston and Beijing are the top three cities. The report suggests that strengthening the innovation ecosystem, including enhancing the economic foundation, promoting the integration of industry, academia and research, boosting scientific infrastructure, and fostering cross-regional cooperation, is crucial for Chinese cities to enhance their innovation capabilities.
    In terms of talent development, five cities from the United States and five from China, which include Beijing, Shenzhen, Hong Kong, Guangzhou and Shanghai, rank in the top 10.
    According to the report, Chinese cities such as Shenzhen, Guangzhou, Hong Kong and Shanghai also demonstrate exceptional performance in talent potential, reflecting strong momentum in talent development.

    MIL OSI China News

  • MIL-OSI China: China Disabled Persons’ Federation hosts 2025 New Year cultural exchange

    Source: China State Council Information Office 2

    The China Disabled Persons’ Federation (CDPF) hosted its 2025 New Year Celebration in Beijing on Jan. 22, bringing together people with and without disabilities for cultural and sports activities at the China Administration of Sports for Persons with Disabilities.
    Over 200 guests attended the event, including representatives from the embassies of more than 50 countries, such as the United States, France, Italy, Switzerland and Japan, along with U.N. agencies, international organizations, and foreign-invested enterprises.
    Zhou Changkui, vice chair and president of the Executive Board of CDPF, attended the celebration and delivered a speech. You Liang, vice president of the Executive Board, served as the host.
    In his speech, Zhou thanked both domestic and international partners for supporting people with disabilities in China. He emphasized the Chinese government’s commitment to a people-centered development philosophy, ensuring the comprehensive advancement of disability-related initiatives.
    Over the past year, CDPF has implemented practical measures to safeguard the rights and interests of individuals with disabilities, enhanced social security systems and support services, leveraged technology to empower them, and led the Chinese delegation to notable success at the 2024 Paris Paralympic Games. Consequently, the cause of disability rights has gained momentum in China, becoming integrated into the nation’s broader social and economic development, while enhancing the sense of fulfillment, happiness and security among individuals with disabilities.
    CDPF will continue actively engaging in international disability affairs, strengthening exchanges and cooperation with U.N. agencies, foreign embassies, and other organizations to enhance the well-being of persons with disabilities worldwide.
    France hosted the 2024 Paralympic Games in Paris, and Italy will host both the 2025 Special Olympics World Winter Games in Turin and the 2026 Paralympic Winter Games in Milan Cortina. Representatives from both nations’ embassies attended the celebration.
    Cristina Carenza, deputy head of mission and minister plenipotentiary at the Embassy of Italy in China, celebrated the incredible resilience, strength and determination of persons with disabilities. She said that Italy looks forward to using these upcoming sports events to deepen cooperation with China in areas such as disability sports.
    Mr. Romain Jacquet, counselor for health, social affairs, and labor at the French Embassy in China, noted that sports embody the values of equality, respect and inclusion. He emphasized France’s commitment to strengthening cooperation with international partners, including China, to build a more inclusive and united world.
    The event highlighted the artistic and athletic achievements of people with disabilities while showcasing their creative potential and equal participation in society. Kanasugi Kenji, the Japanese ambassador to China, and Jürg Burri, the Swiss ambassador to China, joined guests in experiencing traditional Chinese handicrafts and folk activities alongside artisans with disabilities. This allowed them to savor the festive atmosphere of the Chinese New Year and appreciate the charm of traditional Chinese culture. The guests joined athletes in friendly matches of wheelchair basketball, wheelchair curling and boccia, creating an atmosphere of warmth and camaraderie.
    During the event, Mao Jingdian, a Chinese Paralympic champion in para table tennis, and Wang Zhidong, a member of the Chinese Para Ice Hockey Team, along with outstanding athletes with disabilities from France and Italy, shared stories of perseverance and determination in pursuit of their dreams. The guests also enjoyed a performance by the China Disabled Peoples’ Performing Art Troupe.

    MIL OSI China News

  • MIL-Evening Report: Vanuatu AG condemns Trump’s Paris climate treaty exit as ‘troubling precedent’

    By Harry Pearl of BenarNews

    Vanuatu’s top lawyer has called out the United States for “bad behavior” after newly inaugurated President Donald Trump withdrew the world’s biggest historic emitter of greenhouse gasses from the Paris Agreement for a second time.

    The Pacific nation’s Attorney-General Arnold Loughman, who led Vanuatu’s landmark International Court of Justice climate case at The Hague last month, said the withdrawal represented an “undeniable setback” for international action on global warming.

    “The Paris Agreement remains key to the world’s efforts to combat climate change and respond to its effects, and the participation of major economies like the US is crucial,” he told BenarNews in a statement.

    The withdrawal could also set a “troubling precedent” regarding the accountability of rich nations that are disproportionately responsible for global warming, said Loughman.

    “At the same time, the US’ bad behavior could inspire resolve on behalf of developed countries to act more responsibly to try and safeguard the international rule of law,” he said.

    “Ultimately, the whole world stands to lose if the international legal framework is allowed to erode.”

    Vanuatu’s Attorney-General Arnold Loughman at the International Court of Justice last month . . . “The whole world stands to lose if the international legal framework is allowed to erode.” Image: ICJ-CIJ

    Trump’s announcement on Monday came less than two weeks after scientists confirmed that 2024 was the hottest year on record and the first in which average temperatures exceeded 1.5 degrees Celsius above pre-industrial levels.

    Agreed to ‘pursue efforts’
    Under the Paris Agreement adopted in 2015, leaders agreed to “pursue efforts” to limit warming under the 1.5°C threshold or, failing that, keep rises “well below” 2°C  by the end of the century.

    Fiji Prime Minister Sitiveni Rabuka said on Wednesday in a brief comment that Trump’s action would “force us to rethink our position” but the US president must do “what is in the best interest of the United States of America”.

    Other Pacific leaders and the Pacific Islands Forum (PIF) regional intergovernmental body have not responded to BenarNews requests for comment.

    The forum — comprising 18 Pacific states and territories — in its 2018 Boe Declaration said: “Climate change remains the single greatest threat to the livelihoods, security and wellbeing of the peoples of the Pacific and [we reaffirm] our commitment to progress the implementation of the Paris Agreement.”

    Fiji Prime Minister Sitiveni Rabuka speaks at the opening of the new Nabouwalu Water Treatment Plant this week . . . Trump’s action would “force us to rethink our position”. Image: Fiji govt

    Trump’s executive order sparked dismay and criticism in the Pacific, where the impacts of a warming planet are already being felt in the form of more intense storms and rising seas.

    Jacynta Fa’amau, regional Pacific campaigner with environmental group 350 Pacific, said the withdrawal would be a diplomatic setback for the US.

    “The climate crisis has for a long time now been our greatest security threat, especially to the Pacific,” she told BenarNews.

    A clear signal
    “This withdrawal from the agreement is a clear signal about how much the US values the survival of Pacific nations and all communities on the front lines.”

    New Zealand’s former Minister for Pacific Peoples, Aupito William Sio, said that if the US withdrew from its traditional leadership roles in multilateral organisations China would fill the gap.

    “Some people may not like how China plays its role,” wrote the former Labour MP on Facebook. “But when the great USA withdraws from these global organisations . . . it just means China can now go about providing global leadership.”

    Analysts and former White House advisers told BenarNews last year that climate change could be a potential “flashpoint” between Pacific nations and a second Trump administration at a time of heightened geopolitical competition with China.

    Trump’s announcement was not unexpected. During his first term he withdrew the US from the Paris Agreement, only for former President Joe Biden to promptly rejoin in 2021.

    The latest withdrawal puts the US, the world’s largest historic emitter of greenhouse gases, alongside only Iran, Libya and Yemen outside the climate pact.

    In his executive order, Trump said the US would immediately begin withdrawing from the Paris Agreement and from any other commitments made under the UN Framework Convention on Climate Change.

    US also ending climate finance
    The US would also end its international climate finance programme to developing countries — a blow to small Pacific island states that already struggle to obtain funding for resilience and mitigation.

    Press releases by the Biden administration were removed from the White House website immediately after President Donald Trump’s inauguration. Image: White House website/Screen capture on Monday

    A fact sheet published by the Biden administration on November 17, which has now been removed from the White House website, said that US international climate finance reached more than US$11 billion in 2024.

    Loughman said the cessation of climate finance payments was particularly concerning for the Pacific region.

    “These funds are essential for building resilience and supporting adaptation strategies,” he said. “Losing this support could severely hinder ongoing and future projects aimed at protecting our vulnerable ecosystems and communities.”

    George Carter, deputy head of the Department of Pacific Affairs at the Australian National University and member of the COP29 Scientific Council, said at the centre of the Biden administration’s re-engagement with the South Pacific was a regional programme on climate adaptation.

    “While the majority of climate finance that flows through the Pacific comes from Australia, Japan, European Union, New Zealand — then the United States — the climate networks and knowledge production from the US to the Pacific are substantial,” he said.

    Sala George Carter (third from right) hosted a panel discussion at COP29 highlighting key challenges Indigenous communities face from climate change last November. Image: Sera Sefeti/BenarNews

    Climate actions plans
    Pacific island states, like all other signatories to the Paris Agreement, will this year be submitting Nationally Determined Contributions, or NDCs, outlining their climate action plans for the next five years.

    “All climate actions, policies and activities are conditional on international climate finance,” Carter said.

    Pacific island nations are being disproportionately affected by climate change despite contributing just 0.02 percent of global emissions, according to a UN report released last year.

    Low-lying islands are particularly vulnerable to rising sea levels and extreme weather events like cyclones, floods and marine heatwaves, which are projected to occur more frequently this century as a result of higher average global temperatures.

    On January 10, the World Meteorological Organisation (WMO) confirmed that last year for the first time the global mean temperature tipped over 1.5°C above the 1850-1900 average.

    WMO experts emphasised that a single year of more than 1.5°C does not mean that the world has failed to meet long-term temperature goals, which are measured over decades, but added that “leaders must act — now” to avert negative impacts.

    Harry Pearl is a BenarNews journalist. This article was first published by BenarNews and is republished at Asia Pacific Report with permission.

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Asia-Pac: The Taichung Port Technology Industrial Park’s Disaster Drill enhances regional joint emergency response capability.

    Source: Republic Of China Taiwan 2

    To improve the safety protection capabilities of the Taichung Port Technology Industrial Park (TPTIP), the Bureau of Industrial Parks (BIPs) of the Ministry of Economic Affairs (MOEA) teamed up with the Chemicals Administration (CHA) of the Ministry of Environment to hold a joint “Muti-Hazard Emergency Response and Regional Cooperation Drill” on October 23. Representatives from the CHA, the CTSP Bureau of the Ministry of Science and Technology, the Taichung City Government, and several industrial parks participated. The spirit of “collaborative cooperation” demonstrated in this drill is key to responding to large-scale disasters. Whether it’s adjusting water and electricity supply or supporting fire rescue resources, inter-agency collaboration between agencies is essential. Regular drills focusing on disaster reduction, response, and recovery are designed to ensure rapid resource integration during an actual disaster to effectively prevent escalation.
    The drill simulated a scenario where a strong earthquake caused an organic solvent leak, sparking a fire inside a factory, while toxic chemicals splashed onto personnel, creating a complex disaster. In addition to simulating on-site disaster reporting, personnel evacuation and headcount, emergency response division of labor, casualty rescue, and follow-up efforts, the drill also showcased the regional joint defense capability of Taichung Port and the Technology Industrial Parks. Various public and private entities worked together to adjust the power and water supply, dispatch fire trucks, and provide emergency equipment, demonstrating efficient teamwork in controlling the disaster.
    The Bureau of Industrial Parks (BIPs) emphasized that the drill focuses on the response efficiency and safety practices of various rescue support units. For example, when the Taichung Harbor Fire Brigade arrived at the disaster site, factory managers immediately provided critical rescue information, including the types, quantities, and locations of chemicals in the factory, and assigned personnel to assist. Additionally, a firefighting robot was also sent to the fire scene for extinguishing operations, reducing the need for rescue personnel to enter high-risk areas and thereby lowering rescue risk. Furthermore, the Central Taiwan technical team sent dispatched response vehicles and personnel to monitor chemical concentrations at the accident site, ensuring that rescue efforts were properly contained and that the disaster’s impact was minimized.
    This drill has once again enhanced the safety protection capabilities of the Taichung Port Technology Industrial Park, and has also strengthened the independent emergency response capabilities of companies within the park when facing complex disasters. In the future, the BIP will continue to deepen collaboration with various units, aiming to optimize the park’s joint defense and emergency response mechanism through more disaster drills to ensure that companies within the park can effectively protect personnel safety and minimize economic losses during major disasters.

    Spokesman: Mr. Liu Chi-Chuan (Deputy Director General, BIP)
    Contact Number: 886-7-3613349, 0911363680
    Email: lcc12@bip.gov.tw

    Contact Person: Liu, Chun-chuan (Environmental Safety and Labor Section, Taichung Branch)
    Contact Number: 886-4-2658-1215 ext 641
    Email: chunchuan@bip.gov.tw

    MIL OSI Asia Pacific News

  • MIL-OSI Economics: Money Market Operations as on October 28, 2024

    Source: Reserve Bank of India


    (Amount in ₹ crore, Rate in Per cent)

      Volume
    (One Leg)
    Weighted
    Average Rate
    Range
    A. Overnight Segment (I+II+III+IV) 559,669.89 6.45 5.00-6.75
         I. Call Money 9,351.89 6.62 5.10-6.75
         II. Triparty Repo 407,058.50 6.43 6.11-6.60
         III. Market Repo 142,040.79 6.52 5.00-6.70
         IV. Repo in Corporate Bond 1,218.71 6.69 6.65-6.75
    B. Term Segment      
         I. Notice Money** 209.50 6.43 6.10-6.65
         II. Term Money@@ 489.50 6.50-7.05
         III. Triparty Repo 2,536.00 6.42 6.35-6.55
         IV. Market Repo 2,134.85 6.53 6.45-6.57
         V. Repo in Corporate Bond 0.00
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Mon, 28/10/2024 1 Tue, 29/10/2024 1,648.00 6.75
    4. SDFΔ# Mon, 28/10/2024 1 Tue, 29/10/2024 103,800.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -102,152.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo Fri, 18/10/2024 13 Thu, 31/10/2024 20,073.00 6.49
      (II) Fine Tuning Operations          
         (a) Repo Fri, 25/10/2024 6 Thu, 31/10/2024 25,005.00 6.55
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,696.81  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     17,168.81  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -84,983.19  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on October 28, 2024 1,010,098.68  
         (ii) Average daily cash reserve requirement for the fortnight ending November 01, 2024 1,016,726.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 28, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on October 04, 2024 488,495.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1389

    MIL OSI Economics

  • MIL-Evening Report: Wenda praises PNG’s Marape over ‘brave ambush’ over West Papua

    Asia Pacific Report

    An exiled West Papuan leader has praised Papua New Guinea Prime Minister James Marape for his “brave ambush” in questioning new Indonesian President Prabowo Subianto over West Papua.

    Prabowo offered an “amnesty” for West Papuan pro-independence activists during Marape’s revent meeting with Prabowo on the fringes of the inauguration, the PNG leader revealed.

    The offer was reported by Asia Pacific Report last week.

    Wenda, a London-based officer of the United Liberation Movement for West Papua (ULMWP), said in a statement that he wanted to thank Marape on behalf of the people of West Papua for directly raising the issue of West Papua in his meeting with President Prabowo.

    “This was a brave move on behalf of his brothers and sisters in West Papua,” Wenda said.

    “The offer of amnesty for West Papuans by Prabowo is a direct result of him being ambushed by PM Marape on West Papua.

    “But what does amnesty mean? All West Papuans support Merdeka, independence; all West Papuans want to raise the [banned flag] Morning Star; all West Papuans want to be free from colonial rule.”

    Wenda said pro-independence actions of any kind were illegal in West Papua.

    ‘Beaten, arrested or jailed’
    “If we raise our flag or call for self-determination, we are beaten, arrested or jailed. If the offer of amnesty is real, it must involve releasing all West Papuan political prisoners.

    “It must involve allowing us to peacefully struggle for our freedom without the threat of imprisonment.” 

    Wenda said that in the history of the occupation, it was very rare for Melanesian leaders to openly confront the Indonesian President about West Papua.

    “Marape can become like Moses for West Papua, going to Pharoah and demanding ‘let my people go!’.

    “West Papua and Papua New Guinea are the same people, divided only by an arbitrary colonial line. One day the border between us will fall like the Berlin Wall and we will finally be able celebrate the full liberation of New Guinea together, from Sorong to Samarai.

    “By raising West Papua at Prabowo’s inauguration, Marape is inhabiting the spirit of Melanesian brotherhood and solidarity,” Wenda said.

    Vanuatu Prime Minister and the Melanesian Spearhead Group (MSG) chair Charlot Salwai and Solomon Islands Prime Minister Jeremiah Manele were also there as a Melanesian delegation.

    “To Prabowo, I say this: A true amnesty means giving West Papua our land back by withdrawing your military, and allowing the self-determination referendum we have been denied since the 1960s.”

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Australia: Address to the Australian Bureau of Agricultural and Resource Economics and Sciences

    Source: Australian Treasurer

    I acknowledge the Ngunnawal people, on whose traditional lands we meet, and pay respect to all First Nations people here today.

    Economist John Crawford started his public service career in the 1940s working under Nugget Coombs in the Department of Post‑War Reconstruction (Miller 2007, Uhr 2006).

    After taking a strong interest in agriculture, tariffs and trade in his academic studies, Crawford became the director of the Department’s rural and regional planning divisions (Powell & Macintyre 2015).

    Those planning divisions evolved into the Bureau of Agricultural Economics which would serve as the Commonwealth agency responsible for examining proposals for settling returned soldiers on productive farms.

    With Crawford as the inaugural director, the Bureau would assess ‘the suitability of climate and soil, the adequacy of the farm areas and likely economic viability of the farms’ (Powell & Macintyre 2015).

    It was a significant task because no one wanted to repeat the costly mistakes of the 1920s where nearly 12,000 soldier settlers abandoned their farms within a few years.

    But Crawford saw greater potential for the Bureau.

    He proposed broader functions such as studies on the outlook for primary industries, land use investigations and research to promote certain commodities (Powell & Macintyre 2015).

    The Bureau of Agricultural Economics, Crawford and its broader functions transferred to the Department of Commerce and Agriculture in 1946.

    Through various departmental leadership roles, Crawford went on to be one of the great public administrators of his generation.

    John Crawford is the only economist ever to be recognised as the Australian of the Year, winning the award in 1981 for his work as ‘one of the foremost architects of Australia’s post‑war growth’ (Australian of the Year n.d) (I can’t help noting in passing that we’re probably due for another economist to take the top gong).

    Meanwhile, the Bureau has broadened its economic knowledge base and has added names to its title over the years as it merged with other research agencies (ABARES n.d).

    Some 80 years and dozens of outlook conferences later, the Australian Bureau of Agricultural and Resource Economics and Sciences continues to uphold John Crawford’s best traditions.

    In his words, providing a ‘fact‑finding service’ and providing ‘the material and critical analyses of problems with which policy can be better made’ (Crawford 1952).

    Recognising the ongoing importance of your work, our government announced additional funding in last year’s Budget to help:

    • improve regional data sources
    • collect information on low‑emissions technology, and
    • examine the effect of emissions policies on agriculture and regions (DAFF 2023).

    Concentrating on competition in agriculture

    As a kid who attended an agricultural high school, I’ve always been fascinated by farming. But competition is my primary reason for being here today.

    Since at least the days of Adam Smith, economists have spruiked the virtues of competition (Leigh 2022).

    Industries with plenty of competitors tend to deliver better prices, more choices and stronger productivity growth.

    Uncompetitive markets tend to deliver higher prices, lower wages, less choice, and less innovation. A lack of competition leads to problems that can be difficult to undo.

    Today, I will talk about one problem that has only become worse in the recent decades: market concentration.

    When I took on the competition portfolio, a friend issued me a challenge: ‘How many Australian industries can you name that are not dominated by a few big firms?’ (Leigh 2024a).

    It’s a tough ask.

    Applying the rule of thumb that a market is concentrated if the largest 4 firms control one‑third or more, research by Adam Triggs and I found over half of the industries in the Australian economy are concentrated markets (Leigh & Triggs 2016).

    Indeed, many people asked to take on my friend’s challenge might well answer ‘farming’. And it turns out that for many commodities – though not all – farming is quite competitive.

    A straightforward source of market concentration data are the annual industry estimates produced by IBIS World. They estimate the market share of the top 4 firms for several hundred industries.

    A round‑up of IBIS World data on the market share of the largest 4 companies in parts of the agricultural supply chain shows farmers are often caught in the middle.

    Upstream, farmers deal with concentrated markets for their inputs.

    The largest 4 companies in fertiliser manufacturing in Australia have a combined market share of 62 per cent (IBIS World 2024a).

    The largest 4 in hardware and building supplies retailing control about 49 per cent of the market (IBIS World 2024b).

    And the market share for garden supplies retailing is about 33 per cent for the largest 4 firms (IBIS World 2024c).

    Downstream, farmers deal with concentrated markets for processing, freight and retailing.

    According to IBIS World industry reports, there is concentration in fruit and vegetable processing, with the largest 4 companies holding about 34 per cent of the market (IBIS World 2023).

    For meat processing, market share of the largest 4 companies is 44 per cent with JBS Australia, Thomas Food International and Teys Australia being the dominant players (IBIS World 2024d).

    For rail freight transport, the 4 largest including Aurizon and Pacific National have a combined 64 per cent market share (IBIS World 2024e).

    For shipping freight transport in Australia, the market share of 2 companies – ANL and Maersk – amounts to about 85 per cent (IBIS World 2024f).

    When it comes to supermarkets and grocery stores in Australia, it is well documented that Coles and Woolworths account for two‑thirds of the market (IBIS World 2024g).

    These figures show that the agricultural supply chain is highly concentrated at the national level.

    However, for many farmers, their options are even more limited than these figures suggest, as transport costs and risk of spoilage further limit the commercially viable options available to them.

    To further illustrate the point about farmers being caught in the middle, today I will draw on case studies from a series of reports where concerns have been raised about market concentration harming farmers.

    And I will finish by outlining our actions to improve competition laws, to revitalise competition policy in Australia and to make the economy more productive.

    Digging in

    First, we should never underestimate the importance and efficiency gains of farm equipment and machinery.

    Historian James Burke argues the entire modern world is the result of the plough (Harford 2017).

    Increasing farm productivity meant communities could build up a surplus of food, people could settle in one place and everyone’s job no longer had to be finding food (Leigh 2024b).

    Knowing where your next meal was coming from allowed craftspeople to specialise, it allowed trade to flourish, and it allowed people to think about improving the world around them.

    Any list of top Australian inventions typically includes Richard Bowyer Smith and his brother Clarence’s invention in 1876 of the stump‑jump plough (Dictionary of Biography n.d).

    These days, we are no longer talking about the humble plough.

    We are talking about a billion‑dollar farm machinery industry consisting of hi‑tech harvesters, tractors and seeding machinery (DAFF 2022).

    John Deere has more software development engineers than mechanical design engineers (Patel 2021).

    For farmers, machinery represents a significant capital investment involving upfront and ongoing costs (ACCC 2021).

    But many Australian farmers feel they have no genuine choice or ability to shop around.

    The Australian Competition and Consumer Commission’s 2021 market study found farm machinery markets are concentrated at the manufacturer and dealership levels (ACCC 2021).

    Compared to car manufacturers, agricultural machinery makers have greater ability to leverage their market share in new sales to reduce competition in the market for servicing, repairs and parts.

    Warranties restrict the purchaser to a single authorised dealer for servicing and repairs.

    And tech restrictions mean independent repairers or farmers can’t access the parts, manuals and diagnostic software they need to carry out repairs.

    In short, farmers have few choices when buying machinery but even less choice when servicing or repairing that equipment.

    The Productivity Commission further examined difficulties accessing repair data as part of the right to repair inquiry (PC 2021).

    It agreed restrictions harm farmers through higher repair prices, reduced access and choice, and greater financial risks from repair delays.

    The Productivity Commission recommended the government intervene by introducing a repair supplies obligation on agricultural machinery.

    This would require manufacturers to provide access to repair information and diagnostic software tools to machinery owners and independent repairers on fair and reasonable commercial terms.

    As you may know, I have advocated for the need for access to service and repair information over many years.

    In July 2022, I launched Australia’s first right to repair law, the Motor Vehicle Service and Repair Information Sharing Scheme.

    The government is currently monitoring how this scheme is operating for the benefit of independent repairers and consumers.

    Extending right to repair to other sectors, such as agriculture, is a good thing for the economy, businesses and consumers.

    I am pleased there have been negotiations between Australian farmers and the farm machinery industry to consider putting in place a voluntary right to repair arrangements for the sector.

    I encourage parties to continue those negotiations as voluntary arrangements are a great opportunity to foster collaboration and flexibility and can often lead to innovative and effective outcomes.

    Seeds of doubt

    Seeds are the next input I want to cover.

    The US Department of Agriculture’s Economic Research Service examined the seed sector as part of its paper on concentration and competition in agribusiness (MacDonald J et al. 2023).

    The 2023 paper found the seed sector ‘has become highly integrated with agricultural chemicals and more concentrated, with fewer and larger firms dominating supply’.

    Using 2021 annual report data, it said Bayer, ChemChina’s Syngenta Group, Corteva and BASF were the biggest players in global sales for seeds and agricultural chemicals.

    The Economic Research Service found seed prices rose significantly as markets became more concentrated but said the evidence was mixed on the influence of other factors.

    Between 1990 and 2020, the average seed price went up by 270 per cent and the average price for genetically modified varieties rose 463 per cent (MacDonald J et al. 2023).

    Despite the higher seed costs, the paper said it could be argued that genetically modified varieties resulted in ‘significant productivity gains to farmers’.

    It also said higher seed prices may have supported research and development with the number of patents for new crop varieties doubling compared to earlier decades.

    Still, there are not many other industries where the price of a key input has grown fivefold in thirty years.

    Mergers have changed the global seed and farm chemical industry in recent years, and questions remain about what it means for prices and innovation in the long term.

    Sour competition grapes

    Wine grapes arrived with the first fleet in 1788 as cuttings collected en route by Captain Arthur Phillip.

    They were planted at Sydney Cove but withered and died without producing any fruit.

    Which is why it’s called the Rum Rebellion, not the Chardonnay Coup.

    Nevertheless, a fledging wine industry struggled to its feet through booms and busts of the 1800s and by the turn of the century had taken root.

    In the most recent year for which statistics are available, Australia exported 621 million litres of wine (Wine Australia 2024). That figure exceeds domestic wine sales, estimated at 444 million litres.

    There are more than 2,000 wineries and approximately 6,000 grape growers across our 65 wine growing regions.

    They have over 160,000 full and part‑time employees.

    But while the terroir may be good, the vineyard not a level playing field.

    A wine grape market study completed by the Australian Competition and Consumer Commission in 2019 found a highly concentrated industry (ACCC 2019).

    Issues in the supply chain included a lack of competition, potential unfair contract terms, a lack of price transparency, and imbalanced risk allocation in favour of winemakers over grape growers.

    The largest 1 per cent of winemakers accounted for over 80 per cent of wine production.

    Four retailers account for over 80 per cent of sales by value in the domestic retail liquor market.

    The 5 largest winemakers account for an estimated 87 per cent of volume in the Australian wine export market.

    And the trend has been towards even greater consolidation of large winemakers in recent years.

    Change is never easy in agricultural industries subject to boom‑and slump cycles of over production in the good times and consolidation in the bad.

    In 2021 the ACCC found that commercial practices in the wine grape industry had improved since their 2019 report but warned that regulatory action may be necessary without further reforms in payment times and transparency.

    Industry is taking steps to improve transparency but there is still work to be done to ensure a fair and functioning wine, grape and retail market.

    In August, we appointed former competition minister Craig Emerson to lead an independent impact analysis of the wine and grape sector’s regulatory options (Collins 2024).

    Dr Emerson’s report will examine fair trading, competitive relationships, contracting practices and risk allocation.

    Competition beef

    Those problems are not unique to the grape and wine industry.

    In 2023, the National Farmers Federation released an issues paper criticising the lack of transparency and competition across Australia’s agricultural supply chains (NFF 2023).

    The National Farmers Federation said reduced competition meant farmers weren’t receiving the incomes they deserved with long‑term consequences for competitiveness, economic and environmental sustainability and profitability.

    Those concerns echoed the Australian Competition and Consumer Commission’s cattle and beef market study of 2017. That study found evidence that conflicts of interest regularly arise in saleyard transactions when buyers bid for livestock on behalf of multiple clients, and when agents represent both a cattle seller and a cattle buyer in the same transaction (ACCC 2017).

    The report pointed out that cattle auctions have characteristics that make it easier for cartels to develop, including repeated interactions with the same auctioneers, who are often linked by social networks that make it easier to ‘punish’ auctioneers who break away from agreed anti‑competitive bidding practices. Other problematic behaviours included the exclusion of rival agents, and a lack of transparency around saleyard weighing protocols.

    There is a cyclical element to many concerns about competitiveness in the market structure of the Australian cattle and beef industry.

    An ongoing concern is the impact on producers of market concentration and buyer power during tough times, such as droughts.

    Seasonal and cyclical fluctuations in supply can also affect the profitability of meat processors, dampening incentives for new entrants and reducing competition through mergers or acquisitions of incumbents.

    The 2017 report found that the top 5 Australian processors account for around 57 per cent of total cattle slaughter (ACCC 2017).

    A follow‑up report by the Australian Competition and Consumer Commission 2 years later found that the industry had taken some steps towards improving transparency in dealings between processors and farmers, but, again, there was still work to do (ACCC 2019).

    Super concentrated

    Another highly concentrated part of the agricultural supply chain in Australia are supermarkets.

    Coles and Woolworths account for about 67 per cent of national retail sales (Mulino 2024, ACCC 2024 p147).

    Only 2 OECD countries – New Zealand and Norway – have a greater market share of sales controlled by 2 supermarkets (ACCC 2024 p148).

    Earlier this year, the House of Representatives Standing Committee on Economics handed down an excellent report on the inquiry into promoting economic dynamism, competition and business formation.

    The Committee received evidence on the high market share in the supermarket sector, profit margins, and the power imbalance in the relationship between the major supermarkets and farm‑gate producers.

    The report said: ‘Many agricultural suppliers are at risk of that power imbalance being used to negotiate outcomes that affect profitability and, therefore, the capacity and willingness to invest.’

    At the same time as the Parliamentary inquiry, our government is taking action on several fronts.

    Food and Grocery Code of Conduct

    First, we are making sure the Food and Grocery Code of Conduct is working effectively and fairly.

    The voluntary Code was introduced in 2015 to improve behaviour in the way supermarkets deal with suppliers – including growers where they supply directly to supermarkets.

    Dr Craig Emerson’s independent review found the Code is ‘needed to address persistent bargaining power imbalances between supermarkets and their smaller suppliers’ (Emerson 2024).

    Dr Emerson made 11 recommendations for improving the Code and the government announced in June that it will adopt them all (Treasury 2024a).

    The Code will be made mandatory with Coles, Woolworths, Aldi and Metcash subject to million‑dollar penalties for serious breaches.

    There will be improvements to the dispute resolution mechanisms. There will be a pathway for anonymous complaints from suppliers and whistle‑blowers, and guards against retribution by supermarkets.

    We released exposure drafts for consultation in September and we aim to introduce legislation into the Parliament later this year.

    Supermarket inquiry

    Second, we understand more needs to be done to achieve a competitive and sustainable food and grocery sector.

    So, we directed the Australian Competition and Consumer Commission to undertake a 12‑month inquiry into supermarket pricing.

    It allows the watchdog to conduct a deep dive into competition and pricing practices in the supermarket sector for the first time in more than 15 years.

    The Australian Competition and Consumer Commission’s interim report released in September said, ‘Australia’s supermarket industry is changing’ but remains ‘highly concentrated’ (ACCC 2024).

    In the era of online shopping, loyalty programs and data technology, Coles and Woolworths have expanded their share of take‑home food and grocery sales by a combined 3.7 percentage points since 2006–07.

    Supermarkets have also expanded into broader ‘ecosystems’ beyond grocery retailing but in highly complementary areas such as advertising and data analytics, pet products, telco and insurance services (ACCC 2024 p161).

    As well as conducting consumer surveys as part of the inquiry, the Australian Competition and Consumer Commission held 7 roundtables to listen to farmers and fresh produce wholesalers.

    Although no conclusions have been made, the interim report highlighted concerns from fresh produce suppliers about information asymmetries, power imbalances and specific practices that have enabled supermarkets to transfer disproportionate risk and cost onto suppliers.

    In the next phase of the inquiry, the Australian Competition and Consumer Commission will undertake 14 case studies to examine supermarket profit margins and how profits are distributed in the supply chain.

    And it will hand a final report to the government in February 2025.

    CHOICE retail reports

    Third, we announced funding for consumer group CHOICE to produce quarterly reports on retail grocery prices.

    The CHOICE reports will compare grocery prices at different retailers, highlighting those charging the most and the least.

    We have already seen the first 2 ‘basket of goods’ quarterly reports using data from March and June to help consumers make informed decisions about what they’re buying and where they shop (Leigh 2024c).

    Other measures

    Earlier this month, the Australian Government announced around $30 million in additional funding to the ACCC to crack down on misleading and deceptive pricing practices and unconscionable conduct in the supermarket and retail sectors.

    This will strengthen the ACCC’s ability to proactively monitor behaviour and investigate concerns about supermarkets and retailers falsely justifying higher prices.

    In addition to this crackdown, the Treasurer will work closely with states and territories through the Council on Federal Financial Relations to reform planning and zoning regulations, which will help boost competition in the supermarket sector by opening up more sites for new stores (Albanese 2024).

    Strengthening protections against unfair contract terms

    Unfair contract term protections are another area where we have already made improvements.

    Unfair contract terms are terms that are clearly lopsided – for example by allowing the more powerful party to unilaterally change prices, or cancel the contract.

    Under the former government, such terms were unenforceable, but it was not an offence to include them in a contract.

    Fertiliser

    For example, last year the Australian Competition and Consumer Commission investigated complaints about fertiliser companies using contracts in a way that could disadvantage farmers (ACCC 2023).

    Contract terms allegedly gave larger suppliers the right to unilaterally vary the quantity delivered or to terminate the agreement and restricted buyers from raising issues about defects.

    Fertiliser suppliers co‑operated and changed the contract terms to address the Australian Competition and Consumer Commission’s concerns.

    Potatoes

    In another example, the Federal Court in 2019 declared Mitolo Group, Australia’s largest potato wholesaler, used unfair terms in contracts with growers (ACCC 2019).

    The court declared contract terms that allowed Mitolo to unilaterally determine or vary the price paid to growers as void.

    Terms preventing growers from selling potatoes to other purchasers and terms stopping farmers from selling their property unless the buyer entered into a contract with Mitolo were also declared void.

    Stronger laws

    More broadly, the problem is the laws weren’t stopping the use of unfair terms, which remain prevalent in standard form contracts.

    A court could declare a contract term to be unfair and therefore void and unenforceable, but until our government took office, the law didn’t allow penalties to be imposed.

    We have fixed that. In 2022, we delivered on our promise to strengthen unfair contract term laws (Leigh & Collins 2022).

    We introduced civil penalty provisions outlawing the use of, and reliance on, unfair terms in standard form contracts.

    And we extended the coverage of the protections.

    We lifted the eligibility cap from businesses with less than 20 employees to businesses with less than 100 employees, or annual turnover of less than $10 million.

    The most significant merger reforms in decades

    Merger regulation is one of the key pillars of competition law (Leigh 2024a).

    It acts as the ‘preventive medicine’ against the few mergers that substantially lessen competition.

    But feedback suggests our system isn’t as healthy as it could be.

    The Competition Taskforce found Australia’s ‘ad hoc’ merger process is unfit for a modern economy and said we lag best practice in other countries.

    In response, we have announced the most significant reforms to merger settings in almost 50 years.

    The proposed reforms will make Australia’s merger approval system faster, stronger, simpler, targeted and more transparent.

    Revitalising National Competition Policy

    The Albanese government is working with state and territories to revitalise National Competition Policy.

    There is consensus that pro‑competitive reforms are worth doing and we are aiming for agreement by the end of the year.

    The original National Competition Policy underpinned a generation of growth from the 1990s (Leigh 2024d).

    While it left us in a good position, the economy has changed, and the nation now faces new challenges that the original policy could not have anticipated.

    These include digitalisation, the growth in human services, the net zero transformation and supporting Australia’s most vulnerable (Treasury 2024b).

    Trade opportunities

    We are also looking to improve competitiveness overseas as well as at home.

    Our farmers are internationally competitive with Australia exporting around 72 per cent of the total value of agricultural, fisheries and forestry production (ABARES 2024).

    Historically, Australia’s farmers have been among the strongest advocates of trade liberalisation. The old ‘protection all round’ strategy meant that Australian farmers paid more for imported farm machinery, and faced tariffs from other countries to which they exported their produce.

    Reductions in Australia’s domestic tariffs under the Whitlam, Hawke and Keating governments made farm equipment more affordable. It also bought Australia international credibility – enabling us to spearhead reform through the creation in 1986 of the Cairns Group of Fair Trading Nations, to advocate for liberalisation of global trade in agricultural goods (cairnsgroup.org).

    Today, our government is building on that legacy. Invested: Australia’s Southeast Asia Economic Strategy said, ‘Australia is already a key partner in helping Southeast Asia meet its food security needs’, and notes that ‘there is strong potential to develop this trade relationship further towards 2040’ (DFAT 2023).

    So, trade forms a significant part of our broader economic agenda.

    And as Trade Minister Don Farrell observes, we are ‘delivering on our commitment to secure new trade and investment opportunities for Australian exporters, producers, farmers and businesses’ (Farrell 2024).

    Closing remarks

    Let me finish by saying, competitive markets matter in all parts of the Australian economy, but especially in the farm sector.

    As the Australian Competition and Consumer Commission’s Mick Keogh crisply puts it: ‘there are many farmers, but few processors or wholesalers, and even fewer major retailers’ (Keogh 2021).

    As my analysis of IBIS World data shows, small‑scale farmers are often the meat in a market concentration sandwich.

    Upstream, there is often no choice about dealing with large‑scale providers on inputs.

    Downstream, there is often no choice about negotiating with larger processors and retailers.

    And through various examples from many reports over several years, we can see that market concentration hurts farmers.

    Higher prices for inputs.

    Less choice for repairs.

    Power imbalances in negotiating contracts.

    A lack of transparency around prices.

    And potentially unfair contract terms.

    I’m pleased to say, as outlined today, the government is focused on practical solutions to improve our competition settings.

    And we appreciate the expertise and insights of the Australian Bureau of Agricultural and Resource Economics and Sciences.

    Thank you.

    Note: My thanks to officials in the Australian Treasury for invaluable drafting assistance.

    References

    Albanese, A; Chalmers, J. (2024) ‘Helping Australians get fairer supermarket prices through stronger protections and greater competition’, [media release] The Treasury, accessed 1 October 2024.

    Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) n.d About ABARES – Our History, online content.

    Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) (2024) Snapshot of Australian Agriculture 2024, ABARES Insights.

    Australian Competition and Consumer Commission (ACCC) (2024) Supermarkets inquiry interim report.

    Australian Competition and Consumer Commission (ACCC) (2017) Cattle and Beef Market Study – Final Report.

    Australian Competition and Consumer Commission (ACCC) (2019a), Transparency improving in cattle and beef industry, media release issued 20 August 2019.

    Australian Competition and Consumer Commission (ACCC) (2020) Perishable agricultural goods inquiry Final Report.

    Australian Competition and Consumer Commission (ACCC) (2021) Agricultural Machinery Market Study.

    Australian Competition and Consumer Commission (ACCC) (2023) Fertiliser suppliers amend unfair contract terms after ACCC investigation Accessed 21 August 2023.

    Australian Competition and Consumer Commission (ACCC) (2019b) Court penalises potato wholesaler for breaching the Horticulture Code and declares unfair contract terms void, Accessed 2 August 2019.

    Australian of the Year Awards (n.d) Sir John Crawford AC CBE – In Memoriam.

    Cairns Group, The. (n.d) About The Cairns Gro…~https://www.cairnsgroup.org/Pages/Introduction.aspx

    Collins (2024) Supporting Australia’s wine industry [media release] The Treasury, accessed 23 August 2024.

    Department of Agriculture, Fisheries and Forestry (2022) Snapshot – Australian agricultural machinery imports Accessed 4 November 2022.

    Department of Agriculture, Fisheries and Forestry (2023) Boosting capabilities to support a sustainable agriculture sector Budget 2023–2024 fact sheet, Australian Government.

    Department of Foreign Affairs and Trade (2023) Invested: Australia’s Southeast Asia Economic Strategy to 2040, a report for the Australian Government accessed September 2023.

    Dictionary of Biography, Australian. Richard Bowyer Smith entry, Biography – Richard …~https://adb.anu.edu.au/biography/smith‑richard‑bowyer‑13201

    Emerson C (2024) Independent Review of the Food and Grocery Code of Conduct Final Report, [final report] Treasury.

    Farrell D (2024) Press conference, Parliament House Accessed 17 September 2024.

    Harford T 27 November (2017) How the plough made the modern economy possible BBC World Service.

    IBIS World (2024a) ‘Agricultural machinery manufacturing in Australia’, Industry Report, February 2024.

    IBIS World (2024b) ‘Hardware and building supplies retailing in Australia’, Industry Report, February 2024.

    IBIS World (2024c) ‘Garden supplies retailing in Australia’, Industry Report, March 2024.

    IBIS World (2024d) ‘Meat processing in Australia’, Industry Report, June 2024.

    IBIS World (2024e) ‘Rail freight transport in Australia’, Industry Report, September 2024.

    IBIS World (2024f) ‘Water freight transport in Australia’, Industry Report, May 2024.

    IBIS World (2024g) ‘Supermarkets and grocery stores in Australia, Industry Report, August 2024.IBIS World 2023, ‘Fruit and vegetable processing in Australia’, Industry Report, August 2023.

    Keogh M (2021) Competition in Australian agriculture Speech to the National Farmers’ Federation accessed 11 June 2021.

    Leigh A 28 November (2022) Look overseas to see the virtues of more competition [opinion piece] The Australian.

    Leigh A 27 August (2024a) Why new rules in competition are sure to be game‑changing [opinion piece] The Canberra Times.

    Leigh A (2024b) The Shortest History of Economics, Black Inc.

    Leigh A (2024b) Supermarket price monitoring to help Australians make informed choices at the checkout [media release] Accessed 20 June 2024.

    Leigh A (2024c) Supermarket price monitoring to help Australians make informed choices at the checkout [media release] Accessed 20 June 2024.

    Leigh A (2024d) Competition reform will ensure flourishing future [opinion piece] The Australian.

    Leigh A and Collins J (2023) Labor delivering on promise to ban unfair contract terms [media release] Accessed 26 July 2022.

    Leigh A and Triggs A (2016), Markets, Monopolies and Moguls: The Relationship between Inequality and Competition. Australian Economic Review, 49: 389–412.

    MacDonald J, Dong X, and Fuglie K (2023) Concentration and Competition in U.S. Agribusiness United States Department of Agriculture Economic Research Service, Economic Information Bulletin No.256.

    Miller J (2007) Sir John Grenfell (Jack) Crawford (1910–1984) Australian Dictionary of Biography, Volume 17, 2007, ANU.

    Mulino D (2024) Better Competition, Better Prices Report on the inquiry into promoting economic dynamism, competition and business formation, House of Representatives, Standing Committee on Economics.

    National Farmers’ Federation (NFF) (2023), Issues Paper, Market Price Transparency, National Farmers’ Federation Issues Paper.

    Patel N 15 June (2021) John Deere turned tractors into computers – what’s next, The Verge.

    Powell G & Macintyre S (2015) Land of opportunity: Australia’s post‑war reconstruction, National Archives of Australia Research Guide.

    Productivity Commission (PC) (2021) Right to Repair Inquiry Report No.97, accessed 29 October 2021.

    Treasury (2024a) Government response to the Independent Review of the Food and Grocery Code of Conduct, Treasury.

    Treasury (2024b) National Competition Policy fact sheet Treasury.

    Uhr J (2006) The Crawford Doctrine: An informal sketch Australian National University, accessed 21 June 2006.

    Whitnall T and Pitts N (2020) Meat Consumption ABARES.

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    MIL OSI News

  • MIL-OSI Security: KAMANDAG 8 Combined HA/DR Drill Increases Allied Response Capabilities

    Source: United States INDO PACIFIC COMMAND

    A peaceful coastal town in Ilocos Norte, Philippines, showcases a blend of natural beauty and rural charm. Stretching along the northernmost coast of Luzon, it is bordered by the blue waters of the western Pacific Ocean. During October, Burgos became the location where the proverbial rubber met the road as three different nations trained together to accomplish one common goal.

    Members of the Amphibious Rapid Deployment Brigade (ARDB), Japan Ground Self-Defense Force (JGSDF), trained side-by-side with the Philippine Marine Corps (PMC) 4th Marine Brigade (4MBDE) and Bureau of Fire Protection (BFP), along with support from U.S. Marines and Sailors from Marine Rotational Force-Southeast Asia (MRF-SEA), elements of Marine Medium Tiltrotor Squadron (VMM) 165 (Reinforced), 15th Marine Expeditionary Unit (15th MEU), and Combined Task Force – 76 (CTF 76) to share knowledge and experiences while participating in various subject matter expert exchanges leading up to a final humanitarian aid and disaster relief (HA/DR) demonstration on Camp Cape Bojeador during the annual Philippine Marine Corps exercise, KAMANDAG 8.

    The expert exchanges included classes on Small Unmanned Aerial Systems (sUAS); medical care, triage and casualty evacuation; small boats; and operational planning, which were vital to the final execution of the HA/DR demonstration between the combined forces.

    Marines and Sailors from MRF-SEA played a key role in the planning for the HA/DR demonstration, coordinated by the JGSDF Logistics Support Brigade (LSB). U.S. Marine involvement comes on the heels of a successful bilateral response to Typhoon Krathon (Julian) in Northern Luzon and the Batanes Islands, which occurred less than a week before the commencement of KAMANDAG. This experience provided MRF-SEA with valuable insights that enhanced the overall planning process.

    “This is one of the first major evolutions where you have a combined effort between the Japanese Ground Self-Defense Force, the Philippine Marine Corps, and the United States Marine Corps,” said U.S. Marine Corps Capt. Matthew Demaso, the Air Naval Gunfire Liaison Company officer in charge for Marine Rotational Force-Southeast Asia.

    Leading up to the execution of the HA/DR mission demonstration, leaders from the JGSDF, 4MBDE, and MRF-SEA engaged in extensive planning over four days at Camp Cape Bojeador in Burgos. The Operational Planning Team developed a comprehensive and integrated response strategy for the simulated disaster scenario. Concurrently, participating forces conducted multilateral training in key areas, including amphibious landings, search and rescue operations, medical triage and patient evacuation, engineering clearance procedures, and sUAS operations with an RQ-20 PUMA.

    The U.S. Marines manning the PUMA were able to showcase the abilities of an unmanned aerial vehicle in assisting with search and rescue missions in the event of a natural disaster.

    “The information that I’ve been sharing with their personnel is focused on search and rescue, specifically how the sUAS systems could help both the military and the civilian sector for any humanitarian aid or disaster relief mission,” said U.S. Marine Corps Sgt. Marcos Lopez, a sUAS operator with ANGLICO Detachment 1.

    Lopez served as the lead instructor for the sUAS SMEE, demonstrating how to properly launch a PUMA and showcasing the information that the unmanned aircraft can provide, such as grid location, altitude, distance, and live video footage of the surrounding area.

    Leveraging the PUMA’s reconnaissance capabilities enables combined forces to identify citizens impacted by natural disasters ahead of time, allowing rescue personnel to prepare accordingly before arriving on-site.

    While MRF-SEA Marines shared insights into the capabilities of the sUAS, medical personnel at Camp Cape Bojeador exchanged knowledge on best medical practices for responding to natural disasters as they prepared for the HA/DR demonstration. Nurses with the JGSDF, service members with the Philippine BFP, and U.S. Navy Hospital Corpsman 2nd Class David Doyle, a preventative medicine technician with MRF-SEA, led the majority the medical SMEE focusing on taking a mass influx of patients and triaging them promptly, monitoring vitals, and documenting injuries to ensure the best patient care during their admission to a higher echelon of medical care.

    “If we can continue to educate each other on the multitude of possible medical scenarios that can happen after a natural disaster, we will enhance our ability to assist in a real-life scenario,” said Doyle.

    As the training progressed, the collaborative efforts among the combined forces highlighted the importance of real-world preparedness in the face of potential disasters. Elements of the 15th MEU provided air support with MV-22 Ospreys to aid in transporting supplies and conducting casualty evacuations, including medical personnel from 4MBDE and JGSDF. The demonstration also featured over-the-horizon ship-to-shore movements and coordination with local agencies.

    This comprehensive approach not only facilitated skill-building in search-and-rescue tactical operations and patient triage, but also fostered a deeper understanding of each nation’s roles and capabilities, emphasizing the significance of scenario-based training.

    MRF-SEA, along with the 15th MEU and CTF 76/3, played a crucial role in the success of the HADR demonstration as it was one of the defining events of KAMANDAG 8. “We did a tabletop exercise through the humanitarian aid disaster response to walk through the plan and rehearse it, and then we were able to execute the plan for the demonstration, near flawlessly, on time, effectively, and safely,” said Demaso.

    Elements from the LSB and the 4MBDE conducted their ship-to-shore movement using two MV-22 Ospreys attached to Marine Medium Tiltrotor Squadron (VMM) 165 (Reinforced) 15th MEU, launched from the USS Miguel Keith, an expeditionary staging base assigned to CTF-76/3.

    Simultaneously, an amphibious insertion involving combined military forces and Philippine relief agencies was executed using small boats, ensuring rapid notional link-up with local government officials. This set the stage for the rapid deployment of forces and assistance in the simulated disaster response.

    In the days leading up to the demonstration, Marines and Sailors of MRF-SEA used the RQ-20 PUMA to showcase its capabilities in the search-and-rescue component of a HA/DR mission.

    Additionally, MRF-SEA’s tactical air control party conducted successful pick-up and landing zone operations, allowing for the safe and efficient unloading of relief supplies and multilateral disaster relief teams. These efforts also expedited the evacuation of casualties, who were transported to a higher echelon of medical care aboard U.S. Navy vessels.

    In a major step toward enhancing multilateral cooperation in the Indo-Pacific region, MRF-SEA, in collaboration with CTF-76/3 and the 15th MEU, successfully integrated with the PMC and JGSDF, testing the readiness of the multinational forces to respond to real-world emergencies.

    “This successful execution of this HADR training and demonstration marks a significant launch of the Philippines and Japan Reciprocal Access Agreement (RAA), which was enacted just three months ago,” said Capt. Will Thomas, a joint terminal attack controller with MRF-SEA.

    The Philippines and Japan RAA is a defense cooperation agreement that allows for the increased presence of Japanese troops in the Philippines and vice versa for humanitarian missions, disaster response, and other scenarios. This agreement streamlines coordination between the two nations during combined operations or mutual defense needs.

    Unified efforts between U.S., Philippine, and Japanese forces demonstrated their ability to conduct effective disaster response operations in challenging environments, further strengthening regional preparedness for real-world scenarios.

    The annual Philippine Marine Corps exercise highlighted MRF-SEA’s key role in strengthening multilateral cooperation within the U.S. Indo-Pacific Command and reinforced future cooperation with U.S. allies and regional partners, enhancing collective readiness against environmental and security challenges.

    MIL Security OSI

  • MIL-OSI Security: Enduring Partnerships: MRF-SEA Concludes KAMANDAG 8 with new experiences, knowledge

    Source: United States INDO PACIFIC COMMAND

    In a historic first, six nations converged on Filipino soil in the wake of a super typhoon to train, learn, and strengthen their partnership during KAMANDAG 8, reaffirming the exercise’s importance to regional peace and stability in the Indo-Pacific.

    The two-week exercise, which concluded on Oct. 25, focused on enhancing defense and humanitarian capabilities through combined training events and expert exchanges. Participants engaged in a wide range of training activities, including chemical, biological, radiological, and nuclear response; humanitarian assistance and disaster relief; unmanned aerial systems use; small boat operations; logistics; civil-military operations; coastal defense; and command and control processes.

    Among the participants in KD8 was a detachment of Marines and Sailors from Marine Rotational Force-Southeast Asia, a unit derived from elements of I Marine Expeditionary Force designed to provide a persistent presence in the region while conducting exercises and military expert exchanges with allies and partners. For instructors with MRF-SEA, the exchanges were invaluable to sustaining partnerships west of the International Date Line.

    “The exchanges with not just our Philippine Marine Corps partners, but all partner nations, allow us to learn and grow as a fighting force,” said Gunnery Sgt. Ryan Berthiaume, CBRN chief with MRF-SEA. “Everyone has different ways of doing the same mission. These events are a great way to alter our way of thinking and apply new procedures to our own techniques, tactics, and procedures.”

    Just days before KAMANDAG 8 kicked off, U.S. Marines, Philippine Marines and citizens concluded a real-world foreign disaster relief mission in support of Philippine citizens residing in typhoon-stricken Northern Luzon. Efforts to transport nearly 100,000 pounds of supplies and family food aid packs from Manila to Laoag International Airport and then onward to affected areas near Basco solidified a joint commitment of protecting the people of the Philippines from natural disasters across the country.

    “This [mission] enabled them to have their basic needs met and focus on rebuilding their lives and getting back to normal,” said U.S. Marine Corps Capt. Matthew Demaso, the Air Naval Gunfire Liaison Company officer in charge for MRF-SEA. “It demonstrates that the United States is willing to answer the call of its allies quickly and efficiently to get them the help they need now.”

    Following the residual effects of the storm, a previously scheduled, notional HA/DR training event amongst the U.S., JGSDF, and PMC within the exercise provided another opportunity for allies to test their mettle as a proactive force in readiness. Teams took to the ocean in small boats to exercise boat use and movement to shore in order to provide necessary triage care and transportation of the injured; utilizing MV-22 Ospreys attached to Marine Medium Tiltrotor Squadron (VMM) 165 (Reinforced), 15th Marine Expeditionary Unit, who were already postured in the area with forces participating in the exercise on Palawan.

    This year’s KAMANDAG was the eighth iteration conducted in the Philippines and included over 2,000 participants. Service members from the French Armed Forces, Royal Thai Marine Corps, and Indonesian Marine Corps,Australian Defense Force, British Armed Forces, Japan Ground Self-Defense Force, and Republic of Korea Marine Corps united in the Philippines to take part in the historically bilateral, Philippine and U.S. Marine lead exercise.

    The multinational collaboration of KAMANDAG 8 provided a valuable platform for participants to exchange expertise and foster working relationships across the globe. The combined environment allowed service members of all ranks and skill sets to enhance multinational cooperation, interoperability, and strengthen their collective capabilities.

    Operating in a foliage-rich environment brought new challenges and questions from young Marines participating in their first exercise; especially in utilizing communications equipment and radios in a mostly comm-degraded location such as the Philippine jungle. Cpl. Jacon McMahon, a transmissions systems operator with MRF-SEA, brought attention to the uniqueness of learning communications procedures from incredibly resourceful Filipino counterparts.

    “Through collaboration and shared expertise, the PMC demonstrated the art of crafting a jungle antenna and their communication capabilities. They showcased not just technical skills but strengthened our capabilities as Marines.”

    By combining training, humanitarian assistance, and disaster relief efforts, participating nations have reinforced their commitment to a secure and prosperous Indo-Pacific. As the region continues to face evolving challenges, exercises like KAMANDAG remain crucial in making partners “Stronger Together.”

    MIL Security OSI

  • MIL-OSI New Zealand: SH2 blocked, Te Hauke, Hawke’s Bay

    Source: New Zealand Police (District News)

    State Highway 2 is blocked at Te Hauke near Burma Road while the road is cleaned, following a two vehicle crash this afternoon.

    Police responded to SH2 following the two vehicle crash involving a portaloo and a ute around 3:40pm.

    No injuries were reported. 

    Motorists are advised to expect delays and take an alternate route.

    ENDS

    Issued by Police Media Centre 

    MIL OSI New Zealand News

  • MIL-OSI Security: KAMANDAG 8: Multinational Teams, 15th MEU Recon Train Together in Manila

    Source: United States INDO PACIFIC COMMAND

    Marines with Reconnaissance Company, 15th Marine Expeditionary Unit, partnered with the Philippine Marine Corps’ Force Reconnaissance Group and other multinational recon and special forces units for combined training events at Marine Base Gregorio Lim near Manila, Philippines, Oct. 17-23, 2024, during Exercise KAMANDAG 8.

    KAMANDAG is an annual Philippine Marine Corps and U.S. Marine Corps-led exercise taking place Oct. 15-25 aimed at enhancing the Armed Forces of the Philippines’ defense and humanitarian capabilities by providing valuable training in combined operations with foreign militaries in the advancement of a Free and Open Indo-Pacific. This year marks the eighth iteration of this exercise, with participants from the French Armed Forces, Royal Thai Marine Corps, and Indonesian Marine Corps; including continued participation from the Australian Defense Force, British Armed Forces, Japan Ground Self-Defense Force, and Republic of Korea Marine Corps.

    Training at MGBL included Philippine National Police and Philippine Coast Guard special operations units that also participated in some of the events.

    The events included: jungle survival and patrolling; live-fire exercises; competitive sniper shoots; chemical, biological, radiological, and nuclear (CBRN) training; small boat operations; and visit, board, search, and seizure (VBSS) operations. Each event focused on improving interoperability and sharing tactics, techniques, and procedures among the training units to enhance their readiness to respond to a wide range of threats in the Indo-Pacific region.

    “This type of training alongside our Philippine FRG counterparts and other multilateral units during KAMANDAG enabled us to all learn from one another,” said U.S. Marine Corps Capt. Jon Bender, commanding officer of Reconnaissance Company, 15th MEU. “Collectively, these training events allowed us to refine common tactics, work together in complex and dynamic environments, and build trust between our units. The level of cooperation we’ve shared here is key to maintaining readiness and improving our operational capabilities.”

    The first training event involved jungle tactics in the dense terrain surrounding MGBL. The combined units focused on surviving and operating in a challenging jungle environment. This included techniques for building shelters, capturing or finding food, starting a fire, as well as moving through thick vegetation while maintaining tactical awareness, communications, and conducting reconnaissance in an area known for its difficult terrain and unpredictable weather.

    “The jungle presents unique challenges,” said U.S. Marine Corps Cpl. Alexis Gonzales, a team leader with Security Platoon, Reconnaissance Company, 15th MEU, and a Dallas native. “Learning from the Philippine Marines, who have extensive experience operating in this environment, enhances our ability to succeed in similar conditions.”

    Several live-fire ranges were conducted during KAMANDAG training at MBGL. Sniper teams from each multinational element worked together, using spotters to guide the shooters in hitting distant targets. The live-fire portion also included a combined medium machine gun range, unknown-distance target range and competitive sniper shoots.

    During CBRN training, participants donned M50 gas masks as they trained to respond to a CS gas threat. This rehearsal tested their ability to quickly don protective equipment while remaining calm, effective and able to continue to operate in a contaminated environment.

    “The CBRN training allowed the forces to be comfortable operating in adverse environments,” said U.S. Marine Corps Cpl. Tiago Nunes, a CBRN specialist with the 15th MEU, and a native of Boston. “Everyone involved in the training is now better equipped with the knowledge and expertise needed to stay safe and lethal.”

    Another key component of the training included explosive breaching operations, where Marines practiced breaching doors and barriers with controlled explosive charges. This training, essential for small tactical units conducting rapid entry during urban operations or raids, was facilitated by Marines from Explosive Ordnance Disposal Platoon, Combat Logistics Battalion 15, 15th MEU.

    On the water, the combined units used small boats during a raid course focused on scout swimmer operations, infiltration and extraction. The training included formation maneuvers moving quickly through coastal waters, stealthily approaching targets, and withdrawing after completing their missions.

    “The amphibious raid training shows our ability to insert forces from the sea and maintain the element of surprise,” said U.S. Marine Corps Cpl. Donald Wernick, a reconnaissance Marine with Reconnaissance Company, 15th MEU, and a native of Virginia. “We conducted drills with numerous repetitions on the basics, which allowed the force to all know their roles and operate as a fluid and cohesive team.”

    Two of the final exercises involved a gas and oil platform (GOPLAT) and a VBSS maritime interdiction using small boats. The GOPLAT training was simulated at Fort Drum, an island fort near Manila, where the combined Marines walked through their actions during a raid, including securing the platform, eliminating threats and securing key infrastructure. During the at-sea VBSS, U.S. and Philippine Marines approached in small boats to rapidly board a target vessel. The VBSS tested the coordination and timing between the forces, as they boarded the vessel simultaneously, secured key areas and neutralized simulated threats.

    The week of multilateral training during KAMANDAG reinforced a shared commitment to regional stability and security in the Indo-Pacific. By sharing knowledge, refining common tactics, and strengthening bonds, participating forces are better prepared to conduct joint multilateral operations across a spectrum of challenges.

    “Exercises like this enhance the strength and common skills that already exist, especially between 15th MEU’s Recon Marines and Philippine FRG,” said U.S. Marine Corps Capt. Thomas Zahn, a platoon commander with Reconnaissance Company, 15th MEU. “This training ensures that we are ready to face threats or respond to crises, together, wherever they arise.”

    As Exercise KAMANDAG 8 concludes Oct. 25, U.S. and Philippine Marines, along with their multinational like-minded partners, remain committed to advancing their capabilities and enhancing their ability to operate as a cohesive, combined force.

    MIL Security OSI

  • MIL-OSI Security: KAMANDAG 8: Philippine 3rd Marine Brigade, 15th MEU Conduct Integrated Live-fire Coastal Defense

    Source: United States INDO PACIFIC COMMAND

    Philippine Marines with 3rd Marine Brigade and U.S. Marines with elements of the 15th Marine Expeditionary Unit established defensive positions at Apurawan Beach to conduct a combined live-fire coastal defense Oct. 22, 2024, during Exercise KAMANDAG 8.

    The training scenario on Palawan’s western shores integrated Philippine and U.S. forces as they coordinated close air support, air defense systems, guided missiles, artillery, mortars, rockets, machine guns, and command-detonated mines to repel a simulated amphibious landing to defend key maritime terrain.

    Philippine Navy Vice Adm. Alfonso Torres, commander of Western Command, and Philippine Marine Corps Commandant Maj. Gen Arturo Rojas attended the event, along with other key commanders and staff.

    KAMANDAG is an annual Philippine Marine Corps and U.S. Marine Corps-led exercise taking place Oct. 15-25 aimed at enhancing the Armed Forces of the Philippines’ defense and humanitarian capabilities by providing valuable training in combined operations with foreign militaries in the advancement of a Free and Open Indo-Pacific. This year marks the eighth iteration of this exercise and includes participants from the French Armed Forces, Royal Thai Marine Corps, and Indonesian Marine Corps; including continued participation from the Australian Defense Force, British Armed Forces, Japan Ground Self-Defense Force, and Republic of Korea Marine Corps.

    “Today, Philippine and U.S. Marines are integrating our respective emerging doctrines for coastal defense and counter-landing operations,” said U.S. Marine Corps Lt. Col. Nicholas Freeman, commanding officer of Battalion Landing Team 1/5, 15th MEU. “We’re training to maneuver and mass effects to attrite, block, fix and destroy a force that attempts to land. Here, Philippine guides would bring in our forces to rapidly establish an area defense of this landing site. Our engagement area would extend from the beach’s exit routes out to the launch points for enemy landing craft, with a plan for fires integrating both Philippine and U.S. Marine weapons systems.”

    On the day prior to the coastal defense, Charlie Battery, Battalion Landing Team 1/5, landed on Palawan’s eastern shores from the amphibious assault ship USS Boxer (LHD 4) in the Sulu Sea. The unit then infiltrated their M777 155 mm towed howitzers across 45 miles of mountainous terrain to firing positions covering the engagement area. Although the M777s did not fire live artillery during the exercise, their participation marked a significant milestone in quickly positioning defensive fires capabilities on the island.

    “This was the longest U.S. military tactical movement, bearing the most fires capability to date, across Palawan,” said Freeman. “This is the first time we have moved this much firepower from one side of the island to the other, and they did it safely, swiftly, and realistically from a ship to objective.”

    In just over 24 hours, the dirty work of digging in by hand along hundreds of yards of coconut palms was completed by approximately 150 Philippine Marines from 3rd MDBE and 150 U.S. Marines from 15th MEU, mainly from BLT 1/5’s Weapons and Bravo Companies. From their camouflaged positions, some Marines commented that the tropical landscape reminded them of the island battles during World War II, such as Guadalcanal and Wake Island.

    “This is the environment that we try to simulate back in California, but it’s difficult to do that because we often train in the desert,” said U.S. Marine Corps 1st Lt. Graham Clark, the battalion fires officer of BLT 1/5 who synchronized each of the elements conducting the live-fire. “This was valuable training with a very important partner force since we are developing these tactics to fight in an environment like Palawan.”

    The first event in the scenario was the detection of an approaching unmanned aircraft system threat. FIM-92 Stinger gunners with the Low Altitude Air Defense detachment, Marine Medium Tiltrotor Squadron (VMM) 165 (Reinforced), 15th MEU, unmasked from their positions and sighted their missiles.

    When the target drone was grounded due to high winds, the Stinger gunners took direct aim at target boats bobbing just above the surface hundreds of yards away. The Stingers, typically used against aircraft, fired and scored direct hits, sending pieces of orange-painted wood scattering into the bay.

    Next, radio calls alerted the defense that amphibious landing craft were approaching from over the horizon. Two F-35B Lightning II aircraft attached to Marine Fighter Attack Squadron (VMFA) 225, 15th MEU, quickly launched from the Boxer and roared overhead. They dropped two 500-pound GBU-12 laser-guided bombs to destroy boats a few kilometers from shore before disappearing over the ocean.

    From the tree line, Philippine Marines then opened fire with 105 mm artillery cannons, supported by BLT 1/5’s 81 mm and 60 mm mortars, providing steady fires and suppression on the next set of targets.

    Meanwhile, a mixed section of AH-1Z Viper and UH-1Y Venom helicopters with VMM-165 (Rein.) launched from Antonio Bautista Air Base in Puerto Princesa, where the squadron had established an aviation spoke ashore. They made multiple attack runs and fired rockets, 20 mm cannons, and 2.75-inch rounds.

    As the remaining closer-in boats were targeted, BLT 1/5 Marines emerged from the tree line with Javelin anti-tank missiles, sending wood flying as their strikes echoed across the bay.

    The entire beachfront then erupted as Philippine Marines fired 90 mm rounds from atop an armored personnel carrier. The combined forces also employed heavy machine guns, including Mark 19 40 mm grenade machine guns and .50-caliber machine guns, as well as medium machine guns.

    When the remaining enemy force crossed the surf, individual Philippine and U.S. Marines repelled the final wave with small arms, accurately engaging paper silhouette targets at close range. A claymore anti-personnel mine detonated, signaling a final blow and ceasing fires across the beach.

    “This was part of KAMANDAG, but really it’s part of a larger transformation in the concept and tactics for coastal defense strategy in this region – something that has not been employed or tested at scale for decades in the Indo-Pacific,” said U.S. Marine Corps Col. Sean Dynan, commanding officer of the 15th MEU. “Having the commander of WESCOM and the commandant of the Philippine Marine Corps attend showed the value and interest in developing this doctrine by both of our militaries. We, along with our Filipino counterparts, will take the lessons learned and continue to refine these concepts.”

    MIL Security OSI

  • MIL-OSI Security: USS George Washington Carrier Strike Group leads Task Force 70 surface, air forces into Keen Sword 25

    Source: United States INDO PACIFIC COMMAND

    The USS George Washington Carrier Strike Group (CSG) is leading a contingent of Commander, Task Force (CTF) 70 ships, aircraft and personnel participating in exercise Keen Sword 25 from Oct. 23 to Nov. 1, 2024.

    Keen Sword is the latest in a series of joint-bilateral field training exercises designed to increase combat readiness and interoperability of Japan Self-Defense Forces (JSDF) and U.S. forces.

    In addition to Carrier Air Wing 5 and the strike group staff, embarked aboard the flagship Nimitz-class aircraft carrier USS George Washington (CVN 73), CTF 70 is represented in the exercise by the expeditionary Electronic Attack Squadron (VAQ) 134, as well as the Ticonderoga-class guided-missile cruiser USS Lake Erie (CG 70) and the Arleigh Burke-class guided-missile destroyer USS Preble (DDG 88), both operating under Destroyer Squadron (DESRON) 15.

    “The George Washington Carrier Strike Group’s presence is crucial in Keen Sword 25,” said Rear Adm. Greg Newkirk, commander of Task Force 70 and the carrier strike group. “In Keen Sword, our strike group rehearses complex, high-end warfighting with the joint force and allies. This type of exercise showcases the range, agility and lethality of our unified force and reestablishes the George Washington Carrier Strike Group in the U.S. 7th Fleet area of operations with emphasis.”

    George Washington, returning in its second stint as the U.S. Navy’s aircraft carrier forward-deployed to Japan, departed the San Diego area on Oct. 8 to begin operations in the Indo-Pacific.

    The carrier was previously forward-deployed to Yokosuka from 2008 to 2015, and will return there in late fall after completion of its current patrol. The Nimitz-class aircraft carrier USS Ronald Reagan (CVN 76) served as the forward-deployed carrier from 2015 until earlier this year.

    “Keen Sword 25 provides the George Washington CSG an arena to flex its considerable capability in the air, surface and information domains,” said Newkirk. “Not only is the strike group conducting dynamic flight operations and complex expeditionary logistics during this exercise, it is also serving as a hub for tactical decision-making, driving action and reaction among forces throughout the region.”

    The CSG team, with DESRON 15, is coordinating with Lake Erie, operating with allies in the Philippine Sea near Okinawa, as well as Preble, which is in Yokosuka providing a platform for bilateral Tomahawk Land-Attack Missile (TLAM) training with Japan Maritime Self-Defense Force specialists.

    Keen Sword is a biennial exercise designed to help promote peace and security in the Indo-Pacific region. This exercise, and others like it, are an opportunity to demonstrate to the world the will of the U.S. and allies to defend Japan, as well as the ironclad nature of the U.S.-Japan alliance, which has stood for more than 70 years.

    MIL Security OSI

  • MIL-OSI Asia-Pac: Speech by SCED at Hong Kong FinTech Week 2024 (English only)

    Source: Hong Kong Government special administrative region

    Speech by SCED at Hong Kong FinTech Week 2024 (English only)
    Speech by SCED at Hong Kong FinTech Week 2024 (English only)
    ************************************************************

         Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the second day of the Main Conference of Hong Kong FinTech Week 2024 today (October 29): Distinguished guests, ladies and gentlemen,      Good morning.      Welcome to day two of the Main Conference of Hong Kong FinTech Week 2024. It is my pleasure to join you all here this morning.        Hong Kong has all along attached great importance to developing fintech businesses, with a view to developing our city as an ideal destination for fintech firms from around the world. As a symbol of this goal, Invest Hong Kong (InvestHK) has been organising the flagship Hong Kong FinTech Week since 2016 to gather the global fintech stakeholders, including investors, professionals and practitioners, in Hong Kong to discuss the latest developments and explore new opportunities.       Being the premier annual international fintech event in Asia, this mega event has been receiving overwhelming support and serving as a great platform over time for Hong Kong’s expanding fintech business. With its theme “Illuminating New Pathways in Fintech”, Hong Kong FinTech Week this year is expected to attract more than 30 000 visitors, and over 800 speakers and 700 exhibitors from over 100 economies. In fact, such a scale can hardly be matched by other similar fintech events. I am glad that you are in the right place today, and I can assure you of an exciting series of events in the rest of Hong Kong FinTech Week.      Being a “super connector” and a “super value-adder”, Hong Kong acts as an important gateway between the Mainland and the overseas markets. Our city is a place where we advocate entrepreneurship and innovation, and also a perfect launch pad for fintech companies to be groomed locally and globally.        Under “one country, two systems”, Hong Kong continues to maintain our uniqueness as one of the most liberal and easiest places to do business in the world. In terms of foreign direct investment, Hong Kong remains the world’s fourth largest destination as revealed in the World Investment Report 2024; Hong Kong is once again ranked in 2024 as the freest economy by the Fraser Institute; and we are ranked the third globally, the first in the Asia-Pacific region as well as one of the top 10 fintech hubs around the globe according to the recent Global Financial Centres Index report.      These recognitions are attributed to our institutional advantages including a robust common law legal system, an independent judiciary, a simple and low tax system, world-class professional services, and many others, which are the very foundation of Hong Kong’s success as an ideal place for fintech companies to thrive.      Coupled with an array of new business-friendly initiatives announced in the 2024 Policy Address this month, all businesses in Hong Kong, including the fintech sector, could benefit from them. For example, the updated Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) provides more flexibility and convenience for Hong Kong companies to invest and do business on the Mainland. All companies based in Hong Kong, regardless of their place of origin, can all benefit from the latest CEPA enhancements. My friends, I strongly recommend that you set up your fintech and related financial operations in Hong Kong in order to enjoy these advantages.        Apart from companies, we also have good news for individuals. For non-Chinese Hong Kong permanent residents, they are now eligible for the Mainland travel permit since July this year. This groundbreaking measure provides unprecedented convenience for visits to the Mainland for various purposes, including business, leisure or family trips, multiple times within a validity period of five years. Additionally, if you are a non-permanent Hong Kong resident who is also a foreign staff member of a Hong Kong-registered company, the validity period of your multiple-entry visa has now been extended to a maximum of five years to facilitate your Mainland trips. To experience the convenience brought by the two new measures, I would suggest that our overseas friends apply for the permit or multiple-entry visa, if eligible.       In fact, we note that Hong Kong’s competitiveness and business-friendly environment, which I have mentioned above, has already been highly recognised by many fintech companies. In 2024, we are home to over 1 100 fintech companies, representing a 14 per cent year-on-year increase according to InvestHK’s statistics. In the first nine months of this year, InvestHK has helped 470 overseas and Mainland enterprises to establish or expand their business in Hong Kong, and over 23 per cent of them are from the fintech, financial services and related sectors. The above encouraging results have explained Hong Kong’s attractiveness to the global fintech community.     As always, InvestHK, being the Government’s investment promotion agency and your best business partner in Hong Kong, will assist your companies to set up or expand business here. With InvestHK’s extensive and sophisticated global network, you will have no difficulty in receiving their valuable advice and unfailing support even if your companies are located outside Hong Kong. Taking the golden opportunity today, I would encourage you all approach InvestHK and see what advice they can offer you from the investment promotion perspective.      Finally, I would like to give my big thanks to our fintech friends here today for your participation in and strong support for FinTech Week and confidence in Hong Kong, especially those who have joined the event for years. I hope you enjoy today’s conference and explore more business opportunities. And don’t forget to take a walk through our city to enjoy the delicious food and beautiful scenery in Hong Kong.        Thank you.

     
    Ends/Tuesday, October 29, 2024Issued at HKT 12:15

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI China: China’s CAS launches program on synthetic cells

    Source: China State Council Information Office 3

    The Chinese Academy of Sciences (CAS) announced on Monday that it has launched an international program on synthetic cells in Shenzhen, south China to promote frontier research in life sciences and biotechnological innovation on a global scale.

    Leveraging the scientific prowess of the CAS Shenzhen Institute of Advanced Technology, the program aims to tackle groundbreaking research questions in the field of synthetic biology. Additionally, the initiative seeks to pool expertise worldwide and establish a cooperative paradigm to tackle common challenges faced by humanity, according to the CAS, China’s top institution in terms of natural sciences.

    Synthetic biology is the science of building systems that mimic the structure and function of living cells from scratch. Researchers combine tools from chemistry, materials science and biochemistry to develop functional and structural building blocks for constructing synthetic cell-like systems.

    In recent years, the CAS has been committed to international collaborations in the field of synthetic cells.

    In October 2023, the Shenzhen Institutes of Advanced Technology, together with universities and research institutions from China, Japan, the Republic of Korea, Malaysia, Singapore and Thailand, established the Asian alliance for synthetic cells. A memorandum of cooperation was signed in April to lay the foundation for broader international collaborative relationships. 

    MIL OSI China News

  • MIL-OSI Asia-Pac: Property owner fined over $90,000 for not complying with removal order

    Source: Hong Kong Government special administrative region

    Property owner fined over $90,000 for not complying with removal order
    Property owner fined over $90,000 for not complying with removal order
    **********************************************************************

         ​A property owner was convicted and fined over $90,000 at the Tuen Mun Magistrates’ Courts this month for failing to comply with a removal order issued under the Buildings Ordinance (BO) (Cap. 123).     The case involved an unauthorised structure with a total area of about 34 square metres on the roof of a residential building at Yuen Long On Ning Road. As the unauthorised building works (UBWs) were carried out without prior approval and consent from the Buildings Department (BD), a removal order was served on the owner under section 24(1) of the BO.     Failing to comply with the removal order, the owner was prosecuted by the BD and was fined $93,620 in total by the Court, of which $73,620 was the fine for the number of days that the offence continued, upon conviction at the Tuen Mun Magistrates’ Courts on October 18.     A spokesman for the BD said today (October 29), “UBWs may lead to serious consequences. Owners must comply with removal orders without delay. The BD will continue to take enforcement actions against owners who have failed to comply with removal orders, including instigation of prosecution, so as to ensure building safety.”     Failure to comply with a removal order without reasonable excuse is a serious offence under the BO. The maximum penalty upon conviction is a fine of $200,000 and one year’s imprisonment, and a further fine of $20,000 for each day that the offence continues. 

     
    Ends/Tuesday, October 29, 2024Issued at HKT 12:37

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI China: Xi extends congratulations on 20th anniversary of Cambodian King Norodom Sihamoni’s enthronement

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

    Xi extends congratulations on 20th anniversary of Cambodian King Norodom Sihamoni’s enthronement

    BEIJING, Oct. 29 — Chinese President Xi Jinping on Tuesday congratulated Cambodian King Norodom Sihamoni on the 20th anniversary of his enthronement.

    In his congratulatory message, Xi said that since being enthroned 20 years ago, King Sihamoni has made important contributions to Cambodia’s peace, stability, development and rejuvenation, and international exchanges, and has long been committed to carrying forward the traditional friendship between the two countries.

    Under the joint guidance from leaders of both countries, the building of the China-Cambodia community with a shared future has entered a new era featuring high quality, high level and high standards, he said.

    The “Diamond Hexagon” cooperation framework has made solid progress, the building of the “Industrial Development Corridor” and the “Fish and Rice Corridor” has made positive headway, and the China-Cambodia people-to-people exchange year has achieved great success, bringing tangible benefits to the two peoples, Xi said.

    Depicting China and Cambodia as iron-clad friends who stand together through thick and thin and extend assistance to each other, the Chinese president said he attaches great importance to the development of bilateral relations, prizes the traditional friendship with the Cambodian Royal Family, and stands ready to work with King Sihamoni to strengthen the strategic guidance of bilateral relations, so as to push for more fruitful results in the building of the China-Cambodia community with a shared future.

    MIL OSI China News

  • MIL-OSI Asia-Pac: Kai Tak test events will be useful: CE

    Source: Hong Kong Information Services

    (To watch the full press briefing with sign language interpretation, click here.)

    Chief Executive John Lee said today that test events will take place at the Kai Tak Sports Park in a progressive manner, allowing improvement measures to be put in place prior to its opening.

    Mr Lee spoke to reporters about the sports park this morning, after the first test event – a football match – was held at the venue on Sunday.

    He said the drills staged at the park will be used to train up staff working there and facilitate visitor flows.

    “It is very important (that) we do all the drills necessary. It has to be progressive so that it will train up, first of all, departmental staff, those who work (for) Kai Tak Sports Park Limited, and those who are involved, especially those in the transport industry.

    “The challenge, of course, is the dispersal of crowds after an event, which will comprise 50,000 spectators. That is a challenge we must take up boldly.”

    The Chief Executive added that the forthcoming test events will be useful.

    “I do want the drills to progress fast, but is it also important for reviews and improvement measures to be designed so that we can put them in.

    “I envisage there will be at least 20-plus drills, and depending on the experiences we will gain through the drills, then we will decide whether more will be necessary.”

    MIL OSI Asia Pacific News

  • MIL-OSI: WTW expands Japan’s Corporate Risk & Broking business with new insurance brokerage service

    Source: GlobeNewswire (MIL-OSI)

    TOKYO, Oct. 29, 2024 (GLOBE NEWSWIRE) — WTW, (NASDAQ: WTW), a leading global advisory and broking solutions company, today announced the expansion of its Corporate Risk & Broking (CRB) business in Japan with the launch of an insurance brokerage service. The new service will offer insurance solutions to commercial clients, as well as wholesale facultative reinsurance placement services to partner brokers or agencies in Japan under the entity, WTW Broker Japan Co., Ltd.

    Ryohei (Roy) Nakazawa, Head of WTW Japan, said: “We’re excited with the expansion of our additional service in Japan, introducing specialty broking solutions to Japanese companies. Working closely with the international and domestic insurance markets, we will focus on the speciality segments, particularly for large corporates and Japanese companies with overseas business interests. These include those in Natural Resources, such as Power Plants, Renewables and Mining, Marine, Construction, Aviation, Crisis Management, Rep & Warranty, Captive and reinsurance business.

    At the same time, our existing agency company will continue to focus on the domestic corporate business and Japanese companies with global programmes, where we can support them in collaborating with their corporate in-house agencies.”

    Luke Ware, Head of CRB Asia, WTW commented: “This underscores our commitment to support the evolving needs of our clients and strengthen our position in the market – to be Japan’s best risk advisor, specialty broker and client partner, with world-class analytical capability. Japanese businesses face increasing technology, cyber, supply chain and climate transition risks. In response, we offer deep industry knowledge and insights to help them mitigate these risks and optimize business performance.”

    Headed by Tetsuro Nakazawa, Representative Director and Chief Operating Officer, WTW Broker Japan, the new retail brokerage operation will consist of over 10 brokers and risk advisors by the beginning of next year.

    Tetsuro recently joined WTW and brings with him 25-years of insurance industry experience in Japan, Singapore and London. An industry veteran in facultative reinsurance broking, Tetsuro has dedicated himself to property and facultative reinsurance placements for large and complex Japanese corporate risks, having worked at leading international broking companies with agency and broking operations in the past.

    Tetsuro said: “Japan’s corporate insurance market is undergoing a phase of transformation, and the role of independent international brokers is expected to grow in importance. WTW Broker Japan is positioned to work with corporate clients and insurance partners or agencies to support companies in securing insurance and fac reinsurance for complex risks. I am confident that our new broking business, armed with our group of specialists, can draw on the experience of our brokers and risk advisors globally, as well as our extensive network internationally to ensure that our clients and partners get the right insurance cover.”

    About WTW

    At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

    Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.

    Media contact

    Clara Goh: +65 6958 2542
    clara.goh@wtwco.com

    The MIL Network

  • MIL-OSI Economics: Lufthansa Group reports an operating profit of 1.3 billion euros for the third quarter following a strong summer travel season

    Source: Lufthansa Group

    Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG:

    “Today, we are reporting on another strong summer travel season, with a record seat load factor of 88 percent in August. Particularly in view of the fact that global air traffic again reached its capacity limits this summer, I would like to thank our employees for their efforts and our customers for the patience we sometimes had to ask for.
    Global demand remains intact and bookings for the fourth quarter are also at a high level compared to the previous year, particularly in the premium classes.

    With all passenger airlines operating at a profit, Eurowings, Austrian Airlines and Brussels Airlines even generated record results in the third quarter. Lufthansa Technik and Lufthansa Cargo also remain on track. 
    At the same time, delayed aircraft deliveries, punctuality issues at our hubs in Germany and regulatory disadvantages are impacting our core brand. Lufthansa Airlines has therefore launched the “Turnaround” program to address these and structural internal challenges.

    Across the group, we are continuing to invest in the largest fleet modernization in our history, in premium offers for our guests and in an even more international positioning. These three central pillars of our strategy will enable us to further expand our role as the leading airline group in Europe.”

    Results
    The Group increased its revenue by five percent year-on-year to 10.7 billion euros (previous year: 10.3 billion euros) in the third quarter due to the higher number of flights and the revenue growth at Lufthansa Technik. This was the strongest quarter in terms of revenue in the history of the Lufthansa Group. The Group generated an operating profit (Adjusted EBIT) of 1.3 billion euros (previous year: 1.5 billion euros), resulting in an operating margin of 12.5 percent (previous year: 14.3 percent). The year-on-year decline was due to significant cost increases, particularly in fees, MRO expenses and personnel. Net profit fell to 1.1 billion euros (previous year: 1.2 billion euros).

    Lufthansa Group Passenger Airlines expand capacity

    The Lufthansa Group airlines welcomed more than 40 million guests on board their aircraft in the third quarter, an increase of six percent over the previous year. At 94 percent of available capacity (prior-year period: 88 percent), the seat load factor rose to 87 percent in the third quarter (previous year: 86 percent). In terms of the seat load factor, August was the strongest month in the company’s history, with a load factor of 88 percent.

    Due to the industry-wide capacity growth, average yields fell by 3.5 percent compared to the previous year, although the development in the various traffic regions was mixed: While average yields in continental traffic in the third quarter remained almost at the previous year’s level (-0.4 percent), they fell significantly by 14 percent in the Asia/Pacific region. Due to the improved passenger load factor, the decline in unit revenues (RASK) was less pronounced at minus 2.7 percent. Unit costs increased by 4.5 percent compared to the previous year due to higher fees, as well as higher material and personnel costs. 

    Overall, the Group’s passenger airlines generated an Adjusted EBIT of 1.2 billion euros in the third quarter (previous year: 1.4 billion euros). The decline in the operating profit of the passenger airlines is mainly driven by the 234 million euros decline in the result of Lufthansa Airlines. Delays in the delivery of new aircraft and the associated need to continue operating older aircraft, increased location costs, higher staff costs and expenses for compensation payments following flight irregularities had an above-average impact on the result of Lufthansa Airlines.

    Turnaround program at Lufthansa Airlines is making progress

    Lufthansa Airlines is consistently implementing its Turnaround program. The aim is to increase efficiency, reduce complexity and improve product quality, thereby making the airline fit for the future. Among other things, the Turnaround plan envisages shifting more short-haul traffic to more cost-efficient flight operations. Further efficiency gains are to be achieved by optimizing the network and increasing flexibility and automation. By 2026, the measures will have a gross EBIT effect of around 1.5 billion euros.

    Till Streichert, Chief Financial Officer of Deutsche Lufthansa AG:

    “The Lufthansa Group will continue to focus on generating cash flow and creating value for our shareholders. For this, the Turnaround program at Lufthansa Airlines and the fleet modernization are core elements. I am confident that on this basis we will position all our passenger airlines to be sustainably efficient and profitable.”

    Lufthansa Technik’s result on par with last year, positive performance at Lufthansa Cargo

    In the third quarter, Lufthansa Technik continued to benefit from the high demand for air travel and the associated increase in demand from airlines worldwide for maintenance and repair services. Lufthansa Technik generated an Adjusted EBIT of 167 million euros in the third quarter (previous year: 168 million euros).

    The airfreight business continued to recover in the third quarter compared with the previous quarter. Lufthansa Cargo achieved an operating profit of 38 million euros (previous year: 1 million euros) in the traditionally seasonally weak third quarter for air freight. This trend confirms the anticipated normalization in the air freight market. Furthermore, Lufthansa Cargo is optimally positioned to benefit from strong e-commerce business with Asia, which has prompted Lufthansa Cargo to shift capacity from the transatlantic to the Asia/Pacific region. 

    Adjusted free cash flow clearly positive, balance sheet further strengthened

    The Lufthansa Group generated an operating cash flow of 635 million euros in the third quarter of 2020 (previous year: 1.2 billion euros). After deducting net capital expenditure, primarily for new fuel-efficient aircraft, the Group recorded an Adjusted free cash flow of 128 million euros in the quarter. In the first nine months, the Adjusted free cash flow was 1.0 billion euros (previous year: 1.7 billion euros).

    The Group continued to strengthen its balance sheet during the first nine months of the year, supported by the positive cash flow. At 5.1 billion euros, net debt was below the year-end level 2023 (December 31, 2023: 5.7 billion euros). Net pension liabilities decreased to 2.6 billion euros (December 31, 2023: 2.7 billion euros). Compared to the beginning of the year, available liquidity increased by around 1 billion euros to 11.4 billion euros and was therefore well above the target range of 8-10 billion euros as of the reporting date.

    Outlook

    The Lufthansa Group expects demand for air travel to remain strong in the remaining months of the year. The load factors booked for November and December are well above the levels observed at the same time last year. Demand remains particularly high in the premium classes, i.e. Business Class and First Class.

    The Lufthansa Group plans to increase its capacity in the fourth quarter further compared to the previous year. For the full year 2024, it expects a capacity of around 91 percent compared to the pre-crisis level.

    The Group also expects to report a positive operating result in the fourth quarter. Overall, the Lufthansa Group is therefore confirming its expectation of achieving an Adjusted EBIT of 1.4 to 1.8 billion euros for the full year.

    Further information

    Further information on the results of individual business segments will be published in the report for the third quarter of 2024. This will be published at the same time as this press release on October 29, 2024, at 7:00 a.m. at

    https://investor-relations.lufthansagroup.com/en/investor-relations.html.

    The traffic figures for the third quarter of 2024 will also be published at 7:00 a.m. at https://investor-relations.lufthansagroup.com/en/financial-reports-publications/traffic-figures.html

     
     
    Jan. – Sept.
    2024
     
    Jan. – Sept. 2023
     
    Change in %
     
    July – Sept.
    2024
     
    July – Sept. 2023
     
    Change in %
    Revenue and result
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Total revenue
     
    €m
     
    28,137
     
    26,681
     
    5
     
    10,738
     
    10,275
     
    5
    Of which traffic revenue
     
    €m
     
    23,578
     
    22,583
     
    4
     
    9,246
     
    8,832
     
    5
    Adjusted EBIT
     
    €m
     
    1,177
     
    2,280
     
    -48
     
    1,340
     
    1,468
     
    -9
    Adjusted EBIT margin
     
    %
     
    4.2%
     
    8.5%
     
    -4.3%p
     
    12.5
     
    14.3
     
    -1.8%p
    EBIT
     
    €m
     
    1,249
     
    2,218
     
    -44
     
    1,461
     
    1,441
     
    1
    Net profit / loss
     
    €m
     
    830
     
    1,606
     
    -48
     
    1,095
     
    1,192
     
    -8
    Earnings per Share
     
     
    0,69
     
    1,34
     
    -49
     
    0,92
     
    1,00
     
    -8
    Key balance sheet and cash flow statement figures
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Total assets
     
    €m
     
    46,439
     
    46,591
     
    0
     
     
     
    Cash flow from operating activities
     
    €m
     
    3,423
     
    4,320
     
    -21
     
    635
     
    1,220
     
    -48
    Net capital expenditures
     
    €m
     
    1,815
     
    2,421
     
    -25
     
    61
     
    550
     
    -89
    Adjusted free cash flow
     
    €m
     
    1,006
     
    1,663
     
    -40
     
    128
     
    592
     
    -78
    Employees
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Employees as of 30 September
     
    Number
     
    100,518
     
    117,187
     
    -14
     
     
     

    MIL OSI Economics

  • MIL-OSI Economics: AIIB Commits EUR75 Million to Support ENGIE’s Global Renewable Energy Expansion, Decarbonization

    Source: Asia Infrastructure Investment Bank

    The Asian Infrastructure Investment Bank (AIIB) has committed EUR75 million to a EUR500 million sustainability-linked green loan facility to support ENGIE’s global renewable energy portfolio expansion and decarbonization efforts.

    The ENGIE Sustainability Linked Green Loan Project has been co-financed with the International Finance Corporation (IFC) and Société de Promotion et de Participation pour la Coopération Economique (Proparco). This is AIIB’s second engagement with ENGIE, one of the world’s largest multinational electric utilities and independent power producers, following the financing of the 400MW Gujarat Solar Project earlier this year.

    AIIB joins IFC and Proparco to provide a green sustainability-linked loan facility to support the expansion of the group’s clean energy assets in Poland and South Africa, both AIIB members. Proceeds will finance the acquisition, development and construction of over 550MW of installed capacity. In line with sustainability-linked principles, remuneration of the loan will be linked to ENGIE’s global performance in terms of greenhouse gas emissions, renewable energy expansion and occupational health and safety.

    “This project reinforces AIIB’s global mandate, strong partnership and innovative focus on climate finance,” said Najeeb Haider, AIIB Director General, Project and Corporate Finance Clients, Global. “With its agility and international presence in strategic markets, AIIB is uniquely placed to support multinational energy groups like ENGIE to advance the energy transition in Asia and beyond with their investments. We congratulate ENGIE and our cofinancing partners on their respective achievements.”

    Through the loan, AIIB is supporting its members by leveraging ENGIE’s global leadership in green energy and climate transition. ENGIE aims to invest EUR22-25 billion in renewable energy and low-carbon energy solutions between 2023 and 2025. The projects are aligned with AIIB’s Energy Sector Strategy, which directs the Bank to support traditional energy conglomerates and state-owned enterprises as they shift their corporate strategies and business modalities to redirect investments toward the energy transition.

    “To accelerate the energy transition, considerable resources and efforts are needed from many stakeholders,” said Jean-Marc Turchini, Group Head of Corporate Finance at ENGIE. “Our partnership with AIIB is certainly a meaningful contribution and we feel grateful for what they achieved with this financing. We are also proud to highlight the innovative structure of this most recent corporate loan, which includes climate-related targets for scope 3 emissions and a health and safety performance indicator that covers ENGIE employees and subcontractors on all sites, reflecting ENGIE’s sustainability and social ambitions.”

    About AIIB

    The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond – infrastructure with sustainability at its core. We began operations in Beijing in 2016 and have since grown to 110 approved members worldwide. We are capitalized at USD100 billion and AAA-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: Public online voting for EDB’s Picturise Your Messages Sticker Design Competition

    Source: Hong Kong Government special administrative region

         The public online voting for the Healthy Living, Happy Family Series – Picturise Your Messages Sticker Design Competition organised by the Education Bureau (EDB) commences from today (October 29) to November 4. Parents, students, teachers and members of the public are welcome to vote for the winning entries of the Most Liked Award among the outstanding submissions selected by the adjudication panel.

         A spokesman for the EDB said, “The sticker design competition was well received with the submission of over 4 000 creative entries, through which participants used different ways to convey the message of developing healthy lifestyle. To encourage public participation and enhance interaction of the competition, the EDB has specially set up the Most Liked Award for the Kindergarten Group, Primary Group and Secondary Group, and 15 outstanding entries from each group have been selected by the adjudication panel. Parents, students, teachers and members of the public can vote for their favourite entries through the activity website (www.parent.edu.hk/en/smart-parent-net/topics/article/ppc-competition2024). The entry with the most likes in each group will be presented with the Most Liked Award. The results of the competition will be announced through the activity website on November 13, and the awards will be presented at the Positive Parent Campaign Activity Day cum Prize Presentation Ceremony on December 15.”

         The EDB has been running the Positive Parent Campaign since June 2020 to promote positive parent education through extensive and diversified channels with a view to fostering parents’ positive thinking and promoting proper ways and attitudes of nurturing children, thereby developing in parents a positive and optimistic mindset that contributes to the effective learning and happy development of children. The Healthy Living, Happy Family Series – Picturise Your Messages Sticker Design Competition aims to encourage parents and children to develop a healthy lifestyle together, including adequate sleep, daily exercises and participation in leisure activities, so that both parents and children can relax appropriately and maintain their physical and psychological well-being to facilitate happy and healthy development of children. 

         The EDB aims to raise the awareness of the Positive Parent Campaign among students, parents and the public through the activities under the Healthy Living, Happy Family Series, and to complement the promotion of the 4Rs Mental Health Charter (4Rs Charter) implemented by the EDB in the 2024/25 school year. Parents are encouraged to support the 4Rs Charter and uphold the four essential elements in fostering mental health, namely Rest, Relaxation, Relationship and Resilience, and work together with schools to create an environment conducive to the healthy development of students. For the updated information of the Positive Parent Campaign, please visit the EDB Smart Parent Net website (www.parent.edu.hk/en). 

    MIL OSI Asia Pacific News

  • MIL-OSI China: Japanese animation ‘Look Back’ debuts in China

    Source: China State Council Information Office 3

    Kiyotaka Oshiyama’s “Look Back,” a Japanese animated film adaptation of Tatsuki Fujimoto’s acclaimed manga, premiered in Beijing on Oct. 25 to widespread acclaim from Chinese audiences.

    Director Kiyotaka Oshiyama speaks to the audience via video link at the China premiere of his animated film “Look Back” in Beijing, Oct. 25, 2024. [Photo courtesy of Today Pictures]

    The heart-wrenching story follows Fujino, a popular and outgoing student known for creating humorous comics in the class newspaper. Her world transforms when her teacher pairs her with Kyomoto, a talented but reclusive artist. This unexpected partnership sparks competition in Fujino, and as she wrestles with feelings of jealousy, she discovers they share a deep passion for drawing. The two form a complicated relationship through their dedication to manga creation.

    “Look Back,” a faithful adaptation by newcomer Studio Durian and industry veteran Kiyotaka Oshiyama, resonates deeply with its source material by exploring the emotional journey of artistic pursuit and the profound connections forged through creative expression. Since its release, the directorial debut has moved audiences to tears and inspired many to pursue their artistic dreams.

    At the Beijing premiere, Oshiyama connected with viewers via video link, expressing admiration for Fujimoto’s distinctive style while acknowledging the challenges of adapting a four-panel comic into a feature film.

    The director said scenes of Fujino and Kyomoto drawing held special significance, reflecting his own background as a key animator where drawing became his most intimate craft.

    “Look Back” was released across China on Oct. 26 through the National Alliance of Arthouse Cinemas (NAAC), earning nearly 20 million yuan ($2.8 million) on its opening day. The NAAC, established in 2016, is managed by the China Film Archive and works with theater chains to support arthouse film distribution. The film garnered an impressive 8.5/10 rating on Douban, China’s leading review aggregation platform.

    A Chinese poster for “Look Back.” [Image courtesy of China Film Group]

    Fujimoto, known for creating the hit manga series “Chainsaw Man,” shared his enthusiasm for the film’s reception: “The film adaptation of ‘Look Back’ initially was released in fewer than 100 cinemas in Japan, but now is to be shown in 3,500 cinemas across China. I must thank the enthusiastic fans in China! This miraculous work involves director Kiyotaka Oshiyama, whom I greatly admire, and musician Haruka Nakamura. I hope fans in China can also appreciate the talents of these two. Thank you very much!”

    MIL OSI China News

  • MIL-OSI Asia-Pac: Fossil discovery a boon to HK

    Source: Hong Kong Information Services

    (To watch the full media session with sign language interpretation, click here.)

    The unprecedented discovery of dinosaur fossils in Hong Kong has sparked excitement and created an opportunity for the city to seize on the revelation to further develop tourism here, Chief Executive John Lee said today.

    Mr Lee made the remarks before attending this morning’s Executive Council meeting. Remarks that came after the dinosaur fossils, initially confirmed to be dated to the Cretaceous period, were discovered for the first time on Port Island in the Hong Kong UNESCO Global Geopark last week.

    “We will maintain the fossils so that they will not only help (with) research, but also help (with) developing Hong Kong as a place for us to learn more about the history of dinosaurs, and grasping this opportunity to develop it into, maybe, a tourist attraction.”

    The Chief Executive noted that space at the Heritage Discovery Centre has been reserved to build a workshop and stage an exhibition with the fossils as the theme.

    “We will be making use of this opportunity to develop some special tourist lines so that they can look at, first of all, the volcanic hexagonal rock columns, as well as all the other attractions of our geopark, including some exhibitions of the dinosaur fossils.”

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: HKSAR Government sets up Hong Kong Cross-boundary Public Services self-service kiosk and “iAM Smart” self-registration kiosk in Foshan (with photos)

    Source: Hong Kong Government special administrative region

    HKSAR Government sets up Hong Kong Cross-boundary Public Services self-service kiosk and “iAM Smart” self-registration kiosk in Foshan (with photos)
    HKSAR Government sets up Hong Kong Cross-boundary Public Services self-service kiosk and “iAM Smart” self-registration kiosk in Foshan (with photos)
    ******************************************************************************************

         To advance the development of a digital government, the Hong Kong Special Administrative Region (HKSAR) collaborates with Guangdong Province to promote the Cross-boundary Public Services initiative. The Digital Policy Office (DPO) announced today (October 29) the setting up of a Hong Kong Cross-boundary Public Services self-service kiosk in Foshan. It will help residents and enterprises in Mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) access public services of Hong Kong without the need to travel to Hong Kong in person.      Starting today, the public can use the Hong Kong Cross-boundary Public Services self-service kiosk located on the first floor of the Foshan Nanhai District Administrative Service Center to access various public services of Hong Kong. The kiosk is available for use during the opening hours of the Center (i.e. 8.30am to noon and 2pm to 5.30pm, Monday to Friday except public holidays on the Mainland). For details, please visit the Hong Kong Cross-boundary Public Services thematic website at www.crossboundaryservices.gov.hk/en/home/index.html.      Following the Hong Kong Cross-boundary Public Services self-service kiosks that commenced operation earlier in Guangzhou, Qianhai and Futian in Shenzhen as well as Zhuhai, the Cross-boundary Public Services self-service kiosk currently provides a total of 70 public services from 11 government bureaux and departments as well as related organisations, encompassing areas commonly used by enterprises and the public including taxation, company registration, property and vehicle enquiry and registration, application for personal identification documents and entry of talent, welfare and education, healthcare, immigration clearance, urgent assistance as well as culture and tourism. Members of the public can use the self-service kiosk to perform data entry, document scanning and result printing to enjoy one-stop access when applying for various public services.       An “iAM Smart” self-registration kiosk is also set up at the location mentioned above to enable Hong Kong residents working and living on the Mainland to register for, or upgrade to, “iAM Smart+” directly to enjoy online public services that support “iAM Smart+” such as renewal of a vehicle licence, application for an International Driving Permit and registration for eHealth. For details and registration requirements, please visit the “iAM Smart” thematic website at www.iamsmart.gov.hk/en/reg.html.      A spokesman for the DPO expressed sincere gratitude to the Guangdong Provincial Administration of Government Service and Data for its strong support and the Center for its full co-operation. The DPO will continue to discuss with the Guangdong Provincial Administration of Government Service and Data to set up self-service and self-registration kiosks in more Mainland cities of the GBA to cope with the demands of residents and enterprises in the GBA for public services of Hong Kong.      To implement the State Council’s Guiding Opinions to all provincial governments on Cross-provincial Public Services and their comprehensive deployment, the HKSAR Government accepted the invitation of the People’s Government of Guangdong Province in 2021 to jointly launch the GBA Cross-boundary Public Services, and worked with Guangdong Province in November last year to introduce a dedicated service area/thematic website for Cross-boundary Public Services. The initiative enables enterprises and the public in both regions to enjoy simple and convenient cross-boundary services, with a view to facilitating the provision of public services and investment in the GBA, and enhancing the satisfaction and sense of contentment of enterprises and the public in accessing services across the boundary.

     
    Ends/Tuesday, October 29, 2024Issued at HKT 15:00

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Cancellation and refund arrangements of “Hong Kong Artists” Series: Piano Duo Recital by Stephen Wong and Amy Sze

    Source: Hong Kong Government special administrative region

         The Leisure and Cultural Services Department announced today (October 29) that the “Hong Kong Artists” Series: Piano Duo Recital by Stephen Wong and Amy Sze scheduled for November 2 (Saturday) at the Theatre of Hong Kong City Hall has been cancelled since one of the performers is unable to perform as planned.
     
         Details of the refund arrangements will be announced in due course. Ticket holders are advised to keep their original intact tickets (with stubs) for refunds, and check the latest announcements at www.lcsd.gov.hk/CP.
     
         For programme enquiries, please call 2268 7321 during office hours or email to cp2@lcsd.gov.hk.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Welcome remarks by SLW at Hong Kong: A World of Opportunities seminar for Korean talent (English only)

    Source: Hong Kong Government special administrative region

         Following are the welcome video remarks by the Secretary for Labour and Welfare, Mr Chris Sun, at Hong Kong: A World of Opportunities seminar for Korean talent organised by Hong Kong Talent Engage (HKTE) this afternoon (October 29):
     
         Ladies and gentlemen, annyeong-haseyo (hello in Korean).
     
         I am glad to welcome you to the seminar organised by HKTE today. It is great to have students from Korean universities and exchange students currently in Hong Kong with us today.
     
         This seminar is a follow-up on HKTE’s recent duty visit to Korea in August, during which we met with professionals as well as university students and received much positive feedback. Many expressed interest in working in a dynamic environment like Hong Kong to pursue their careers and succeed.
     
         Talent is the prime resource and driving force that boosts economic development and competitiveness. The Hong Kong Special Administrative Region Government is committed to building Hong Kong into an international hub for high-calibre professionals with diverse backgrounds. Thanks to our “one country, two systems” principle, Hong Kong is bestowed with unique advantages of enjoying the strong support of our motherland and being closely connected to the world. We also have a strong foundation for success, with institutional strengths such as a world-class business environment, a simple and low tax system, and a highly open and internationalised market.
     
         All these strengths make Hong Kong an ideal place for talent looking for personal growth and self-enhancement, so that they can bring their innovative ideas to life as well as make a positive change to the world. Many professionals also choose to base themselves in Hong Kong to explore opportunities in Mainland China.
     
         To attract and retain talent worldwide to pursue long-term development here, the Government announced an array of admission measures in late 2022, including the well-received Top Talent Pass Scheme (TTPS), which has garnered significant interest.
     
         As at end-September, the Government received over 380 000 applications under various talent admission schemes, with about 240 000 applications approved. For the TTPS, over 100 000 applications were received with over 81 000 approved, including over 200 degree graduates from renowned universities in Korea.
     
         Settling into a new environment might be challenging; that is why we set up HKTE to provide one-stop comprehensive support services to facilitate incoming talent to come and settle in Hong Kong. Later in this seminar, Anthony, the Director of HKTE, will introduce to you HKTE’s services in more detail.
     
         I sincerely hope you find the information shared today fruitful and that you will consider embarking on your international career journey here in Hong Kong.
     
         Thank you once again for joining us.

    MIL OSI Asia Pacific News