Category: Business

  • MIL-OSI: Jeito Capital co-leads the oversubscribed €78 million financing in Augustine Therapeutics to develop novel therapies for neuromuscular, cardio-metabolic and neurodegenerative diseases

    Source: GlobeNewswire (MIL-OSI)

    Jeito Capital co-leads the oversubscribed €78 million financing in Augustine Therapeutics to develop novel therapies for neuromuscular, cardio-metabolic and neurodegenerative diseases

    • Proceeds from the financing will advance Augustine’s lead candidate, AGT-100216, through a Phase 2 proof-of-concept clinical trial in Charcot-Marie-Tooth and support significant pipeline expansion into cardio-metabolic and neurodegenerative diseases
    • This investment reinforces Jeito’s expertise and interest to breakthrough innovations in neurological diseases that affect large patient populations with high unmet medical needs and limited treatment options

    Paris, France, March 24, 2025 – Jeito Capital (“Jeito”), a global leading independent Private Equity fund dedicated to biopharma, announced today it is co-leading an oversubscribed €77.7 million (USD 84.8 million) Series A financing round in Augustine Therapeutics (“Augustine”), a biotechnology company focused on developing new therapies for neuromuscular, neurodegenerative and cardio-metabolic diseases through the inhibition of the cytosolic Histone DeACetylase 6 (HDAC6) enzyme.

    Jeito and Novo Holdings, new investors, co-led the oversubscribed total financing, joined by existing investors Asabys Partners, who led an initial €17,5 million closing in 2024, Eli Lilly and Company, AdBio Partners, V-Bio Ventures, PMV, VIB and Gemma Frisius Fund, the US-based Charcot-Marie-Tooth (CMT) Research Foundation, and Newton Biocapital. Augustine was initially formed and seed-funded by V-Bio Ventures, AdBio Partners, VIB, PMV, and Gemma Frisius Fund.

    Mehdi Ainouche, Senior Principal, and Annette Clancy, Operational Investor at Jeito Capital, will also join Augustine’s Board of Directors respectively as Board member and observer.

    Founded in 2019 in Belgium, as a spin-off from the European-based excellence center VIB-KU Leuven (University of Leuven), Augustine has identified HDAC6 inhibition as a promising approach for the treatment of neuropathies and particularly Charcot-Marie-Tooth (CMT) disease – a motor and sensory neuropathy that affects the peripheral nervous system, leading to progressive muscle weakness, sensory loss, deformities, and walking difficulties.
    HDAC6 plays a key role in cellular processes related to tissue aging, and its pharmacological inhibition is a promising approach in a number of diseases. Augustine Therapeutics has developed a next-generation approach to selectively inhibit HDAC6 while preserving its beneficial non-catalytic functions.

    Proceeds from the investment will advance Augustine’s lead candidate, AGT-100216, through a Phase 1/2 proof-of-concept clinical trial in CMT, expected to begin in 2025. The financing will also support pipeline expansion for two other programs in undisclosed neurodegenerative and cardio-metabolic indications.

    Through this investment, Jeito leverages its expertise in neurology, a therapeutic area with strong potential for innovation and significant unmet needs. The quality of Augustine’s assets and team – led by Gerhard Koenig who brings more than 30 years of experience in drug development and track-record in biopharma successes – aligns with Jeito’s investment thesis of accelerating the development of groundbreaking medical innovations and unlocking companies’ potential to become future global market leaders.

    Dr. Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, said:
    Through this new investment, Jeito reaffirms its interest in a cutting-edge therapeutic field, where innovation can bring transformative benefits for patients still heavily impacted by the disease. This commitment to the patients is at the core of our mission, and takes on its full meaning through this funding. We are delighted to support Augustine and share our knowledge and experience with its talented teams, to advance novel therapeutics and contribute to the development of future innovative treatments.”

    Mehdi Ainouche, Senior Principal at Jeito Capital, added:
    This investment illustrates Augustine’s potential for innovation in a therapeutic area where patients have limited to no treatment options. We are therefore happy to co-lead this financing to realize Augustine’s potential, which stands out for both the quality of its research and the expertise of Gerhard and his team. We look forward to our future collaboration, which shares a common ambition: to accelerate clinical development to go faster to patients.

    Gerhard Koenig, CEO Augustine Therapeutics, concluded:
    This significant financing is a testament to the innovative medicinal chemistry that Augustine was founded on, which acts via a unique mechanism of action. The therapeutic potential of HDAC6 is widely recognized in our industry, but previous drug approaches have been sub-optimal, particularly for chronic diseases. At Augustine, we believe we have solved these challenges with a novel non-hydroxamate, non-hydrazide producing chemotype which is highly selective and avoids the typical liabilities of prior chemotypes, unlocking HDAC6 inhibition as a therapeutic approach. We now look forward to rapidly advancing our lead candidate into clinical trials for the treatment of CMT, while broadening the potential for our candidates to change treatment paradigms for neurological and cardio-metabolic diseases. I would like to thank our new and existing investors for their unwavering support as we continue to advance into clinical development.”

    About Jeito Capital
    Jeito Capital is a global leading Private Equity fund with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito has built a diversified portfolio of clinical biopharmas with cutting-edge innovations addressing high unmet needs. Jeito Capital is based in Paris with a presence in Europe and the United States.
    For more information, please visit www.jeito.life or follow us on LinkedIn or X.

    About Augustine Therapeutics

    Augustine Therapeutics is a biotechnology company focused on the treatment of neuromuscular, neurodegenerative and cardio-metabolic diseases through its next-generation approach to selectively inhibit HDAC6. Augustine’s HDAC6 inhibitors has been purposefully designed to selectively inhibit HDAC6 while preserving its beneficial non-catalytic functions. Augustine’s lead program, AGT-100216, is the first selective HDAC6 inhibitor for long-term treatment of Charcot-Marie-Tooth (CMT) disease. With its novel non-hydroxamate, non-hydrazide producing chemotype, Augustine’s HDAC6 approach is selective, avoids the limitations of other chemotypes, and built for chronic diseases. With this novel approach, the Company will also be targeting diseases beyond CMT, including neurodegenerative and cardio-metabolic diseases. Augustine Therapeutics was founded on the ground-breaking research of Prof. Ludo Van Den Bosch from the VIB-KU Leuven in Belgium.
    For more information visit www.augustinetx.com.

    Contacts:

    Jeito Capital                                        
    Rafaèle Tordjman, Founder & CEO
    Jessica Fadel, EA
    Tel: +33 6 33 44 25 47

    Maior                                                ICR Healthcare
    Stéphanie Elbaz                                Mary-Jane Elliott / Davide Salvi / Kris Lam
    Tel: +33 6 46 05 08 07                        Jeito@icrhealthcare.com
    Tel: +44 (0) 20 3709 5700

    The MIL Network

  • MIL-OSI Russia: Financial news: 03/21/2025, 18-16 (Moscow time) the values of the lower limit of the price corridor and the range of market risk assessment for the security RU000A1035Y6 (BMBankP08) were changed.

    Translartion. Region: Russians Fedetion –

    Source: Moscow Exchange – Moscow Exchange –

    03/21/2025 18:16

    In accordance with the Methodology for determining the risk parameters of the stock market and the deposit market of PJSC Moscow Exchange by NCO NCC (JSC), on March 21, 2025, 18-16 (Moscow time), the values of the lower limit of the price corridor (up to 76.29) and the range of market risk assessment (up to 739.57 rubles, equivalent to a rate of 7.5%) of the security RU000A1035Y6 (BMBankP08) were changed.

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

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

    HTTPS: //VVV. MOEX.K.MO/N88757

    MIL OSI Russia News

  • MIL-OSI Russia: Alexey Overchuk held a meeting with members of the Government of the Republic of Belarus

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Current issues of trade and economic cooperation between the two countries were considered.

    Previous news Next news

    Alexey Overchuk held a meeting with members of the Government of the Republic of Belarus

    Deputy Prime Minister of the Russian Federation Alexey Overchuk held a working meeting with the delegation of Belarus, headed by the Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to the Russian Federation with the powers of Deputy Prime Minister of the Republic of Belarus Alexander Rogozhnik.

    The Belarusian delegation included the Minister of Industry of the Republic of Belarus Alexander Efimov, the Minister of Communications and Informatization of the Republic of Belarus Kirill Zalessky, the Minister of Energy of the Republic of Belarus Alexey Kushnarenko, the Minister of Finance of the Republic of Belarus Yury Seliverstov, and the First Deputy Minister of Transport and Communications of the Republic of Belarus Ilya Glazko.

    The parties discussed current issues of trade and economic cooperation between Russia and Belarus, paying particular attention to the progress of work within the framework of the Main Directions for the Implementation of the Provisions of the Treaty on the Establishment of the Union State for 2024–2026, issues of interaction in the energy sector, improving transport connectivity, including increasing the capacity of railway communications and developing the port infrastructure of the two countries, implementing joint import-substituting projects, digitalization and the use of electronic digital signatures. Issues of increasing the availability of mobile communications services in the Union State were also discussed.

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

    MIL OSI Russia News

  • MIL-OSI Russia: Financial News: Changes to FAST and SIMBA SPECTRA protocols in version 8.3

    Translartion. Region: Russians Fedetion –

    Source: Moscow Exchange – Moscow Exchange –

    Dear customers,

    Moscow Exchange PJSC notifies about changes in the FAST and SIMBA SPECTRA protocols of the derivatives market, planned for implementation on June 23, 2025 as part of version 8.3. In case of change of date, a notification about it will be sent.

    PLEASE NOTE that changes in the FAST and SIMBA SPECTRA protocols of the futures market do not maintain backward compatibility and require modifications on the client software side. A description of the changes, templates and diagrams are available at the links:http: //ftp.moex.kom/pub/simb. spectrum/test/t1/simim_8.3/http: //ftp.moex.kom/pub/fast/ spectrum/Test/fast_8.3/

    Changes in the FAST protocol

    The SecurityDefinition message identifier has been changed from id=”38″ to id=”40″. The following fields have been added to the SecurityDefinition message: TradeModeID – The trading mode the instrument is a part of. GroupMask – Bits (flags) with the numbers of groups the instrument is a part of are enabled. SectionID – Section identifier. BaseContractID – FBC (futures base contract) identifier. TradePeriodAccess – Trade indicator for a certain session period. Added a new message SecurityGroupStatus with id=”39″ – group status of instruments. The message is transmitted in the FUT-INFO and OPT-INFO streams. The identifier of the TradingSessionStatus message has been changed from id=”8″ to id=”41″. The TradePeriodID field has been added to the message – the identifier of the trading period. The identifier of the DiscreteAuction message has been changed from id=”26″ to id=”42″. The TradePeriodID field has been added to the message – the identifier of the trading period. In the TradingSessionStatus and SecurityDefinition messages, a broadcast of a new value ‘100’ – an additional weekend session – has been added to the TradingSessionID field. In the SecurityDefinition message, the broadcast of the flags in the Flags field has been stopped: ‘0x1’ – Indicator of trading in an additional trading session (evening/morning) ‘0x40’ – Indicator of trading to the main session The following broadcast has been added to the FO-TRADES stream: MDEntryType = ‘U’ – Indicative funding rate for a perpetual futures contract. The value is transmitted in the MDEntryPx field. MDEntryType = ‘Z’ – Current dividend adjustment for a perpetual futures contract on an index or stock. The value is transmitted in the MDEntryPx field. MDEntryType = ‘m’ – Current market price. The value is transmitted in the MDEntryPx field for futures, calendar spreads and options.

    Changes in SIMBA protocol

    The version of the scheme has been changed from version=”5″ to version=”6″. The SecurityDefinition message identifier has been changed from id=”20″ to id=”21″. The following fields have been added to the SecurityDefinition message: TradeModeID – The trading mode the instrument is included in. GroupMask – Bits (flags) with the numbers of groups the instrument is included in are enabled. SectionID – Section identifier. BaseContractID – FBC (futures base contract) identifier. TradePeriodAccess – Indicator of trading in a certain period of the session. Added a new message SecurityGroupStatus with id=”22″ – group status of instruments. The message is transmitted in the FUT-INFO and OPT-INFO streams. The identifier of the TradingSessionStatus message has been changed from id=”11″ to id=”23″. The TradePeriodID field has been added to the message – the identifier of the trading period. The identifier of the DiscreteAuction message has been changed from id=”13″ to id=”24″. The TradePeriodID field has been added to the message – the identifier of the trading period. In the TradingSessionStatus and SecurityDefinition messages, a broadcast of a new value ‘100’ has been added to the TradingSessionID field – an additional weekend session. In the SecurityDefinition message, the broadcast of the flags in the Flags field has been stopped: ‘EveningOrMorningSession’ – a sign of trading in an additional trading session (evening/morning) ‘DaySession’ – Indication of trading during the main session

    In FlagsSet the following have been removed:

    0 6

    We remind you that the mailbox Defers@moex.Kom is not monitored by technical support. For all technical questions, please call: 7 (495) 733-9507 or at Help@moex.Kom. To unsubscribe from receiving technical news or add additional addresses to the mailing list, send a free-form request to Help@moex.Kom
     

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

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

    HTTPS: //VVV. MOEX.K.MO/N88735

    MIL OSI Russia News

  • MIL-OSI Russia: Marat Khusnullin: Active work has begun on the Adler bypass from the Kudepsta and Vysokoye side

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Previous news Next news

    Construction of Adler bypass

    In Krasnodar Krai, the implementation of a large-scale project to build a bypass around Adler continues. It will be part of a prospective road that will run from the federal highway M-4 “Don” to the city of Sochi. Currently, active work is underway on the western section of the future bypass, in the microdistrict of Kudepsta. This was reported by Deputy Prime Minister Marat Khusnullin.

    “We work daily to create comfortable living conditions for citizens, including improving the transport accessibility of the regions. This plays a key role in the development of the economy and other industries. As part of the modernization of the road network in the south of the country, we are building a bypass of Adler. The new road will reduce travel time to the Sochi airport and Krasnaya Polyana and ensure the withdrawal of transit transport from the resort area of Adler. Currently, active work is underway in the Kudepsta microdistrict, on the western side of the future highway. Drilling of wells for the supports of the overpass leading to the Kudepsta sanatorium has begun at the site. Reconstruction of a section of the Sukhum highway is planned in this area, powerful retaining walls will be erected, and the access road to the sanatorium and the existing underground pedestrian crossing will be reconstructed,” said Marat Khusnullin.

    The Deputy Prime Minister noted that the construction of the Adler bypass, with a total length of about 10 km, is divided into several stages. Most of the artificial structures in both the Kudepsta microdistrict and the village of Vysokoye will be erected as part of Stage IV. A positive conclusion from Glavgosexpertiza and permission for its construction were received in January of this year.

    Also, according to the Chairman of the Board of the state company Avtodor, Vyacheslav Petushenko, in order to build the transport interchange of the Adler bypass with the A-147, concreting of the supports of the bridge crossing over the Kudepsta River is being carried out simultaneously in several sections.

    “To save time on the delivery of necessary construction elements, several machines for the production of reinforcement cages were installed directly at the construction sites. At the same time, we are working in the village of Vysokoye in the Adler district, where the bypass will begin. Here, we have begun concreting the foundations of the U-turn overpass across the high-speed direction of the A-149 highway. We are also continuing to expand the overpass as part of the future interchange at the Eastern Portal. After reconstruction, it will become a two-lane one, and we plan to open traffic on it already in the current resort season,” said Vyacheslav Petushenko.

    Currently, 74 units of special equipment and up to 400 specialists are involved in the construction of the Adler bypass.

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

    MIL OSI Russia News

  • MIL-OSI Banking: ADB’s Partnership with Canada

    Source: Asia Development Bank

    • ADB and Canada have been working together for nearly six decades to tackle some of the most pressing development challenges in Asia and the Pacific.

    Article | 24 March 2025

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    For nearly six decades, the Asian Development Bank (ADB) and Canada have collaborated to tackle some of the most pressing development challenges in Asia and the Pacific. From advancing gender equality to addressing the climate crisis, environmental degradation, and poverty and inequality, the partnership has played an important role in the region’s sustainable development.

    A founding member of ADB, Canada has contributed $245 million to sovereign projects, matched by $868 million of ADB’s resources, and $530 million to ADB-managed trust funds. Canada-based private entities have also committed $383 million to nonsovereign operations.

    In 2023, Canada’s cofinancing commitments amounted to $6.9 million. In the same year, ADB’s Trade and Supply Chain Finance Program supported five Canadian exports and/or imports valued at $2.1 million.

    Advancing shared priorities

    Canada’s Indo-Pacific Strategy, launched in November 2022, identifies Asia and the Pacific as a region of immense opportunity. With an investment of about Can$2.3 billion over the next five years, the strategy signals Canada’s commitment to the region. It focuses on sustainable infrastructure, gender equality, climate change, and inclusive development. It also aligns efforts with global initiatives such as the G7 Partnership for Global Infrastructure Investment.

    Collaborating with FinDev Canada

    ADB and FinDev, Canada’s development finance institution, signed a memorandum of understanding in May 2023 to cooperate on sustainable and inclusive private sector investments that promote development in Asia and the Pacific. They will jointly support private sector growth and investments in emerging and developing markets that advance women’s economic empowerment, climate action, and local market development.

    Driving results through trust funds

    ADB’s trust funds are essential to mobilize private financing and accelerate private sector participation in development. Canada has supported 6 ADB-managed trust funds, including:

    Asia Pacific Project Preparation Facility. Enhancing infrastructure development with $63.3 million in collective contributions alongside Australia, Japan, and the Republic of Korea. It supports the preparation and structuring of infrastructure projects, with private sector participation, and bringing them to the global market.

    Canadian Climate and Nature Fund for the Private Sector in Asia. Supporting private sector projects in the region focused on climate and nature-based solutions, with $255 million in commitments.

    Canadian Climate Fund for the Private Sector in Asia. Catalyzing private investment in climate change mitigation and adaptation in Asia and the Pacific. It is ADB’s first concessional debt cofinancing facility focused on private sector climate actions, with $77.3 million in commitments.

    Canadian Climate Fund for the Private Sector in Asia II. Supporting private sector participation in climate change mitigation and adaptation in low- and lower-middle-income countries and upper-middle-income small island developing states, with $149.5 million in commitments.

    Stories of ADB-Canada partnerships

    Bangladesh: Keeping the Kids in Primary School. Bangladesh’s Primary Education Development Program, cofinanced by ADB and Canada, and other partners, introduced innovative approaches that changed the face of basic education in the country, such as the adoption of multimedia, teacher training, and reward schemes to encourage kids to stay in school.

    Lao People’s Democratic Republic: Southeast Asia’s Biggest Wind Power Plant. The Monsoon Wind Power Company is building a wind power plant in the Lao PDR. ADB and Canada, along with other partners, are cofinancing what is poised to become the largest wind power facility in Southeast Asia.

    Maldives: Boosting Small Businesses and the Blue Economy. ADB and Canada, along with other partners, are providing the Bank of Maldives with a financing package to boost small businesses and investments in sustainable blue economy projects.

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    MIL OSI Global Banks

  • MIL-OSI China: China’s manufacturing hub launches global initiative to expand trade

    Source: China State Council Information Office

    A major manufacturing city in east China’s Zhejiang Province has kicked off its 2025 global trade promotion initiative in a bid to boost exports, amid rising trade protectionism and weakening demand in key global markets.

    As the first step of this endeavor, a delegation of 55 companies from the city of Jinhua, home to some 2 million market entities, participated in the National Hardware Show in Las Vegas in the United States from March 18 to 20.

    “Participating in exhibitions can help us win new customers and also strengthen relationships with old customers. It also allows us to better understand customer demands and experience,” said Li Xing, general manager of Jinhua Bangte Electric Co., Ltd.

    Li’s company took over 10 types of hardware and electrical accessories to the exhibition to further tap the U.S. market. Ahead of the trade show, he visited clients in Chicago, Los Angeles and New York to gain deeper market insights and explore potential partnerships.

    “As long as we step out overseas, there will be rewards,” said Li. His company, which mainly exports to the United States and Canada, has achieved annual exports of more than 100 million yuan (about 13.93 million U.S. dollars) on average over the past three years.

    Amid rising tariffs on Chinese goods, Li acknowledged the challenges posed by increased costs. He revealed that his company was negotiating with clients to share the burden. He is also working on establishing a U.S.-based trading company to build overseas warehouses to reduce logistics and warehousing costs.

    Zhejiang Seacoast Industrial Co., Ltd., another exhibitor, received positive feedback at the Las Vegas expo regarding its new balcony and courtyard tables and chairs.

    “The United States is an important export destination for China’s hardware and garden products,” said Gao Junting, general manager of Seacoast Industrial. “Through this exhibition, we aim to expand our offline customer base and enter major U.S. supermarkets.”

    Gao noted that rising living costs in the United States are driving consumers to seek affordable yet high-quality products. “This presents an opportunity for us.”

    Beyond the United States, Seacoast Industrial has made significant progress in expanding into Europe, Australia, South America and Asia.

    Currently, about 15 percent of its exports, approximately 5 million U.S. dollars annually, are achieved via online platforms like Amazon in the United States, while over 80 percent goes to clients in Europe, Australia, South America and Asia.

    The city of Jinhua is intensifying its global trade efforts. In 2025, the city plans to organize delegations of exporters to participate in seven more trade exhibitions in Russia, Thailand, Indonesia, South Africa, Britain, Morocco and Türkiye.

    These exhibitions will showcase a wide range of products such as hardware tools, gardening products, kitchen and bathroom products, and lighting equipment.

    With the help of new trade models, including cross-border e-commerce, Jinhua reported strong trade growth in 2024, with total exports rising 16.4 percent year on year to 771.9 billion yuan. The number of local companies engaged in international trade surpassed 17,000 in 2024, a year-on-year increase of 10.3 percent. 

    MIL OSI China News

  • MIL-OSI China: Announcement on Open Market Operations No.56 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.56 [2025]

    (Open Market Operations Office, March 24, 2025)

    In order to keep the liquidity adequate in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB135 billion through quantity bidding at a fixed interest rate on March 24, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB135 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年03月24日

    MIL OSI China News

  • MIL-OSI Asia-Pac: Judiciary launches LinkedIn page

    Source: Hong Kong Government special administrative region

    Judiciary launches LinkedIn page 
    The Judiciary officially launched its LinkedIn page today (March 24) to foster professional understanding and enhance transparency in its work, both locally and internationally.
     
    Through this platform, the Judiciary will share updates on significant court judgments, major professional exchanges with other jurisdictions, key events, and important initiatives.
     
    Please visit and follow the Judiciary’s LinkedIn page (www.Linkedin.com/company/hk-judiciaryIssued at HKT 13:00

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Leading Mainland supply chain and logistics service provider JD Logistics leverages Hong Kong’s status as multinational supply chain management centre to expand Hong Kong operation (with photos)

    Source: Hong Kong Government special administrative region

    Leading Mainland supply chain and logistics service provider JD Logistics leverages Hong Kong’s status as multinational supply chain management centre to expand Hong Kong operation  
    Associate Director-General of Investment Promotion at InvestHK Mr Charles Ng said, “The expansion of JD Logistics in Hong Kong reinforces the city’s status as an international supply chain management centre. We look forward to closer collaboration with them to enhance supply chain efficiency and inject new momentum into Hong Kong’s economic growth and innovation development.”
     
    Since its service upgrade in Hong Kong, JD Logistics has opened four operations centres in Kwun Tong, Kwai Tsing, Sha Tin, and Yuen Long. To increase coverage on Hong Kong Island, a fifth operations centre has been established in Chai Wan, with an area of over 10 000 sq ft. Equipped with automated sorting equipment, the efficiency of the operations centre is expected to double.
     
         The Director of Public Affairs at JD Logistics, Mr Lin Ruibin, said, “The opening of our new operations centre in Hong Kong is not only a commitment to the local market but also an essential step in enhancing supply chain efficiency. The centre is equipped with advanced logistics technologies and automation equipment to ensure rapid delivery and precise management of goods.”
     
    He continued, “Last year, daily package deliveries increased 24-fold in Hong Kong and 14-fold in Macao, while the volume of cross-border packages between Mainland China and Hong Kong grew by 16 times, resulting in double-digit growth overall in our express delivery volume. This reflects the enormous business opportunities in the local market. With the rapid development of e-commerce, JD Logistics will further enhance its operational capacity in Hong Kong to provide customers both locally and across Asia with more convenient logistics solutions.”

         He added, “JD Logistics has been strategically positioned in Hong Kong for years, recognising Hong Kong’s strong purchasing power and its importance as a key node in the Greater Bay Area. Since starting operations in Hong Kong a year ago, we have hired over 450 local employees and will continue to recruit more to meet business needs in the future.”
     
    For more information about JD Logistics, please visit www.jdl.com/en
    To get a copy of the photo, please visit
    www.flickr.com/photos/investhk/albums/72177720324566538Issued at HKT 10:00

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    MIL OSI Asia Pacific News

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on March 24, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 1,50,000
    Total amount of bids received (in ₹ crore) 66,215
    Amount allotted (in ₹ crore) 66,215
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.26
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2443

    MIL OSI Economics

  • MIL-OSI New Zealand: Business and Politics – RMA reforms will help drive economic development, says EMA

    Source: EMA

    The Employers and Manufacturers Association (EMA) strongly supports the government’s direction of travel around the two new acts for reforming New Zealand’s resource management laws.
    The current Resource Management Act (RMA) is highly complex and frustrating, says EMA Head of Advocacy Alan McDonald.
    “It has been too difficult to build the infrastructure and houses New Zealand desperately needs,” he says.
    “The proposed changes will allow for more efficient development while respecting environmental protections and property rights.”
    Simplification and standardisation of our resource management systems is desperately needed.
    A streamlined and consistent approach is vital for encouraging economic growth and facilitating much-needed infrastructure development across the country, says McDonald.
    “It’s frustrating for many of our members to find themselves needing new consents to expand existing facilities, such as sawmills, when they already have permission for such activities.
    “The new system should eliminate these unnecessary hurdles, and we strongly support the government’s efforts to ensure that land use is enabled unless there are significant impacts on others or the environment.”
    Spatial planning is critical to ensuring we have sufficient land available for future urban development and the commitment to regional spatial plans allows local decision-making and guides the direction of development while ensuring we have the right infrastructure in place.
    Businesses in New Zealand know protecting the environment is a point of difference for the country, so we look forward to the government providing clear guidelines on environmental limits, says McDonald.
    “The EMA has worked closely with BusinessNZ, Infrastructure New Zealand and the Property Council over the past seven years to help shape these reforms.
    “Our members have played a strong role in guiding this process, and we will continue to work with them, our partners and the government to ensure these reforms are implemented successfully before the next election.
    “We are confident that these new laws will be the foundation for better planning, improved economic outcomes, and enhanced environmental stewardship.”

    MIL OSI New Zealand News

  • MIL-Evening Report: Why isn’t there an opposition leader to unite Democrats in the US?

    Source: The Conversation (Au and NZ) – By Samuel Garrett, Research Associate, United States Studies Centre, University of Sydney

    In just two months back in the Oval Office, President Donald Trump has tested the limits of the US Constitution, from overhauling immigration to drastically reducing the federal workforce and dismantling government agencies.

    With Republicans now in control of both the Senate and House of Representatives, Congress has so far shown little sign it will stand in Trump’s way.

    The judiciary is the other branch of government that can check the power of the president. However, the Trump administration has appeared increasingly willing to simply ignore decisions handed down by judges.

    There has also been a notable lack of unified opposition from the Democratic Party.

    Congressional Democrats are demoralised and deeply divided over how to respond to Trump. They face criticism, too, over their apparent lack of strategy.

    This has led some to ask why the United States lacks a formal political opposition leader.

    How opposition leaders operate in other countries

    In the American political system, the loser of the presidential election doesn’t retain a position as leader of the party in opposition. Instead, they tend to disappear from view.

    Kamala Harris is considering a run for governor of California — and could well attempt another run for president in 2028 or beyond. But she hasn’t remained a vocal counterpoint to Trump since he took office.

    By contrast, in countries with Westminster-style parliamentary systems, such as Australia, the United Kingdom, Canada and India, the main party not in power selects an opposition leader from among their ranks. In most countries, this position is defined by convention, not law.

    The opposition leader in many countries serves as the main face — and voice — of the party not in power. They work to keep the government accountable and are seen as the leader of an alternative government-in-waiting.

    What it takes to lead the opposition in the US

    During Trump’s first term, the Democratic speaker of the House, Nancy Pelosi, was widely recognised as the de facto Democratic opposition leader.

    A skilled negotiator, Pelosi was largely able to unite the Democrats behind her to lead the opposition to Trump’s legislative agenda — famously ripping up a copy of Trump’s State of the Union address on the House podium in 2020.

    As Senate majority and minority leader, Republican Senator Mitch McConnell successfully blocked swathes of legislation during Barack Obama’s presidency. He even thwarted a US Supreme Court nomination.

    In the 1980s, then-Speaker of the House Tip O’Neill led the Democratic opposition to Republican President Ronald Reagan’s domestic agenda, without resorting to obstructionism.

    However, for an opposition figure to have this level of influence, they usually need decades of experience, political skill, and a party in control of the House or Senate.

    The Democrats no longer have a majority in either chamber and are no longer led by Pelosi. Hakeem Jeffries has been the House minority leader since 2023, but without the speaker’s gavel or control of any committees, he has limited influence.

    Party discipline is typically far more unwieldy in the United States compared to other countries. In Australia, for instance, crossing the floor to vote against your own party is very rare.

    Unruly party caucuses make it significantly more difficult for a single party figurehead to emerge unless they command near-universal party loyalty and respect among their members in both chambers.

    Will Democratic cracks shatter the party?

    The Democratic caucus, already strained by Joe Biden’s late withdrawal from the 2024 presidential race, is now even more fractured.

    The Democrats continue to grapple with their resounding defeat in November, which saw the party lose ground with almost every demographic across the country. Polling shows public support for the Democrats has slumped to unprecedented lows, with just over a quarter of voters holding a positive view of the party.

    Most dramatically, Senate Minority Leader Chuck Schumer defied fellow Democrats (including Jeffries) by voting in favour of a resolution in recent weeks to avoid a government shutdown. His decision sparked an uproar from his party colleagues.

    Visual images of the party’s disarray were also on clear display during Trump’s joint address to Congress earlier this month. While some representatives protested loudly, others followed leadership instruction to remain silent.

    Democrats were in near lock-step on almost all issues during Trump’s first term, as well as Biden’s presidency. Now, some are calling on Schumer to step aside as minority leader — and for the Democrats to coalesce behind a younger, more outspoken leader such as Congresswoman Alexandria Ocasio-Cortez.

    Where next for the party?

    In the fractious debates now consuming the party, some see parallels with the emergence of the Tea Party movement within the Republican Party during Barack Obama’s first term in office.

    The current Democratic division could result in the emergence of a stronger dissident faction within the party. And this could push a harder line in opposition to Trump, no longer toeing the line from party leadership.

    Yet, while the political outlook for Democrats may appear bleak, electoral turnarounds can happen quickly in the United States.

    Few expected a demoralised Democratic party to turn John Kerry’s heavy defeat to George W Bush in 2004 into a generational victory just four years later. Similarly, after Obama decisively won reelection against Mitt Romney in 2012, few Republicans could have predicted they’d soon be back in power with Trump.

    But, as was the case 20 years ago, the soul-searching process will be painful for the Democrats. Whether it’s Ocasio-Cortez or another figure, the 2026 midterm elections are likely to be the best opportunity for a new central leader to emerge on the national stage.

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

    ref. Why isn’t there an opposition leader to unite Democrats in the US? – https://theconversation.com/why-isnt-there-an-opposition-leader-to-unite-democrats-in-the-us-252384

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Mystery solved: our tests reveal the tiny algae killing fish and harming surfers on SA beaches

    Source: The Conversation (Au and NZ) – By Shauna Murray, Professor; Faculty of Science, University of Technology Sydney

    Anthony Rowland

    Confronting images of dead seadragons, fish and octopuses washed up on South Australian beaches – and disturbing reports of “more than 100” surfers and beachgoers suffering flu-like symptoms after swimming or merely breathing in sea spray – attracted international concern last week.

    Speculation about the likely cause ranged from pollution and algae to unusual bacterial infections or viruses. Today we can reveal the culprit was a tiny – but harmful – type of planktonic algae called Karenia mikimotoi.

    The SA government sent us water samples from Waitpinga Beach, Petrel Cove Beach, Encounter Bay Boat Ramp and Parsons Headland on Tuesday. We studied the water under the microscope and extracted DNA for genetic analysis.

    Our results revealed high numbers of the tiny harmful algal species – each just 20 microns in diameter (where one micron is one thousandth of a millimetre). While relatively common in Australian coastal waters, blooms of K. mikimotoi occur only sporadically. But similar harmful algal blooms and fish kills due to K. mikimotoi have happened in the past, such as the 2014 bloom in Coffin Bay, SA. And this latest one won’t be the last.

    Sick surfers and dead marine life from strange sea foam (ABC News)

    Harmful algal blooms

    Single-celled, microbial algae occur naturally in seawater all over the world.

    They are also called phytoplankton, because they float in the water column and photosynthesise like plants. “Phyto” comes from the Greek word for plant and “plankton” comes from the Greek word for wanderer, which relates to their floating movement with ocean currents and tides.

    Like plants on land, the microalgae or phytoplankton in the ocean capture sunlight and produce up to half the oxygen in our atmosphere. There are more than 100,000 different species of microalgae. Every litre of seawater will normally contain a mixed group of these different microalgae species.

    But under certain conditions, just a single species of microalgae can accumulate in one area and dominate over the others. If we are unlucky, the dominant species may be one that produces a toxin or has a harmful effect.

    This so-called “harmful algal bloom” can cause problems for people and for marine life such as fish, invertebrates such as crabs, and even marine mammals such as whales and seals.

    There are hundreds of different species of harmful algae. Each produces its own type of toxin with a particular toxic effect.

    Most of these toxic chemical compounds produced by harmful algae are quite well known, including neurotoxins that affect the brain. But others are more complicated, and the mechanisms of toxicity are poorly understood. This can make it more difficult to understand the factors leading to the deaths of fish and other marine life. Unfortunately, the toxins from K. mikimotoi fall into this latter category.

    Introducing Karenia mikimotoi

    Karenia mikimotoi under the microscope.
    Shauna Murray

    The species responsible for recent events in SA beaches, K. mikimotoi, causes harmful algal blooms in Asia, Europe, South Africa and South America, as well as Australia and New Zealand. These blooms all caused fish deaths, and some also caused breathing difficulties among local beachgoers.

    The most drastic of these K. mikimotoi blooms have occurred in China over the past two decades. In 2012, more than 300 square kilometres of abalone farms were affected, causing about A$525 million in lost production.

    Explaining the toxic effects

    Microalgae can damage the gills of fish and shellfish, preventing them from breathing. This is the main cause of death. But some studies have also found damage to the gastrointestinal tracts and livers of fish.

    Tests using fish gill cells clearly show the dramatic toxic effect of K. mikimotoi. When the fish gill cells were exposed to intact K. mikimotoi cells, after 3.5 hours more than 80% of the fish cells had died.

    Fortunately, the toxin does not persist in the environment after the K. mikimotoi cells are dead. So once the bloom is over, the marine environment can recover relatively quickly.

    Its toxicity is partly due to the algae’s production of “reactive oxygen species”, reactive forms of oxygen molecules which can cause the deaths of cells in high doses. K. mikimotoi cells may also produce lipid (fat) molecules that cause some toxic effects.

    Finally, a very dense bloom of microalgae can sometimes reduce the amount of dissolved oxygen in the water column, which means there is less oxygen for other marine life.

    The human health effects are not very well known but probably relate to the reactive oxygen species being an irritant.

    K. mikimitoi cells can also produce “mucilage”, a type of thick, gluey substance made of complex sugars, which can accumulate bacteria inside it. This can cause “sea foam”, which was evident on beaches last week.

    South Australia’s marine emblem, the leafy seadragon, washed up dead on the beach.
    Anthony Rowland

    Unanswered questions remain

    A question for many people is whether increasing water temperatures make blooms of K. mikimotoi more likely.

    Another concern is whether nutrient runoff from farms, cities and aquaculture could cause more harmful algal blooms.

    Unfortunately, for Australia at least, the answer to these questions is we don’t know yet. While we know some harmful algal blooms do increase when nutrient runoff is higher, others actually prefer fewer nutrients or colder temperatures.

    We do know warmer water species seem to be moving further south along the Australian coastline, changing phytoplankton species abundance and distribution.

    While some microalgal blooms can cause bioluminescence that is beautiful to watch, others such as K. mikimotoi can cause skin and respiratory irritations.

    If you notice discoloured water, fish deaths or excessive sea foam along the coast or in an estuary, avoid fishing or swimming in the area and notify local primary industry or environmental authorities in your state.

    Shauna Murray receives funding from the Fisheries Research and Development Corporation, the New South Wales Recreational Fisheries Trust, the Australian Centre for International Agricultural Research, and the Storm and Flood Industry Recovery Program. She is President of the Austalasian Society of Phycology and Aquatic Botany and past chair of the NSW Shellfish Committee.

    Greta Gaiani 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. Mystery solved: our tests reveal the tiny algae killing fish and harming surfers on SA beaches – https://theconversation.com/mystery-solved-our-tests-reveal-the-tiny-algae-killing-fish-and-harming-surfers-on-sa-beaches-252810

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Submissions: Singapore mobile services to hit $2 billion in 2029 with 5G driving revenue stability, says GlobalData

    Source: GlobalData

    The growing adoption of 5G services in Singapore is set to drive revenue stability and innovation in the telecom sector, counteracting the decline in mobile voice service revenue. By the end of 2029, the country’s total mobile service revenue is expected to reach $2.0 billion, maintaining a steady compound annual growth rate (CAGR) of 0.8% from 2024 to 2029, according to GlobalData, a leading data and analytics company.

    GlobalData’s Singapore Mobile Broadband Forecast (Q4-2024) reveals that mobile voice service revenue will decline at a 5.4% CAGR over the forecast period due to the widespread consumer shift towards over-the-top- based (OTT) communication platforms and the subsequent decline in voice service average revenue per user (ARPU) levels.

    Mobile data service revenue, on the other hand, will increase at a healthy CAGR of 5.2% between 2024 and 2029, driven by the growing consumption of mobile data services and projected rise in higher-ARPU yielding-5G subscriptions as 5G services become more widely available across the country.

    Kantipudi Pradeepthi, Telecom Analyst at GlobalData, says: “4G will remain the leading mobile technology, in terms of subscriptions, until 2024. 5G service will see its subscriptions surpass 4G subscriptions in 2025 and is expected to account for an impressive 90% share of the total mobile subscriptions by the end of 2029. This growth in 5G subscriptions will be primarily driven by the rising demand for highspeed data services, ongoing 5G network expansions by MNOs, and a subsequent increase in availability of 5G services across the nation.”

    Singtel will continue to dominate the mobile services market in terms of subscriptions through 2029, given its strong position in both the prepaid and postpaid segments and its focus on 5G network developments and expansion across the country. In February 2025, Singtel upgraded its 5G offering to 5G+ service with the deployment of the 700 MHz spectrum, enabling stronger signals (up to 40%) in high-rise indoor and underground locations, wider coverage, including in remote areas and improved connectivity for both consumers and enterprises.

    Pradeepthi concludes: “Singapore’s telecom market is undergoing a pivotal transformation, with 5G adoption serving as the key driver of future growth. The shift towards data-centric services, coupled with strong infrastructure investments by major players like Singtel, will not only sustain market stability but also pave the way for innovation in IoT, M2M services, and advanced connectivity solutions, positioning Singapore as a regional telecom leader.”

    About GlobalData

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

    MIL OSI – Submitted News

  • MIL-OSI Australia: Security of payment: preventing enforcement of adjudicated amounts to contractors in precarious financial positions

    Source: Allens Insights (legal sector)

    Stays granted even if contractors are not insolvent 6 min read

    The Queensland Supreme Court has granted a stay preventing enforcement of a judgment debt obtained by a contractor in reliance upon an adjudication decision pursuant to the Building Industry Fairness (Security of Payment) Act 2017 (Qld) (BIF Act).

    In this Insight, we consider Taringa Property Group Pty Ltd v Kenik Pty Ltd [2024] QSC 327 and similar cases in NSW and Victoria, with a focus on two key questions:

    • can contractors in liquidation benefit from security of payment legislation?
    • how do courts approach stay applications made by the principal where the contractor is solvent, but in a precarious financial position?

    Key takeaways 

    • Taringa Property Group is a welcome development for principals in Queensland as it lays the foundation for seeking a stay, even when a contractor is not in liquidation.
    • Insolvency remains a major challenge for contractors, who may now experience more difficulties in enforcing payment of adjudicated amounts which can, in turn, exacerbate cash flow problems.
    • Courts maintain a wide discretion and will consider each stay application on its own facts and circumstances—however, a major consideration is how long the stay will likely be.
    • We expect to see an increase in security of payment adjudication and related court litigation as a result of the likely reforms in Victoria.

    Taringa Property Group Pty Ltd v Kenik Pty Ltd [2024] QSC 327

    TPG (Principal) engaged Kenik (Contractor) to design and construct a retail complex at Taringa.

    The contract ended in August 2023 and the Contractor made a final payment claim in September 2023 for $9.7 million. Following the Principal issuing a payment schedule (with a scheduled amount of nil), the Contractor made an adjudication application under the BIF Act, where the adjudicator awarded the Contractor $4.2 million. The Contractor obtained judgment in respect of the adjudicated amount.

    The Principal commenced two applications in the Queensland Supreme Court:

    • First, seeking to have the adjudication decision declared void for jurisdictional error or, in the alternative, a stay of the judgment debt.
    • Second, seeking final relief relating to the contract (specifically, that the Contractor is not entitled to retain the adjudicated amount).

    The court warned that considerable caution should be given to the granting of the stay as it detracts from the primary purpose of the BIF Act in enabling a contractor to be paid.1 Any risk of non‑recovery of payments made under the BIF Act as a consequence of the financial failure of the contractor after the receipt of the BIF payment is generally to lie with the principal.2

    The court gave three examples of circumstances of when a stay might be granted:3

    • where the contractor has taken steps to make the task of recovering any BIF payment more difficult for the principal by way of restructuring its financial affairs;
    • where the contractor engages in tactics to delay the resolution of the substantive proceeding;4 or
    • where the contractor is in liquidation or in some form of external administration due to liquidity issues at the time the BIF payment would otherwise be made.

    Essentially, there needs to be a real risk that the Principal will suffer prejudice or damage if a stay is not granted. However, Justice Hindman rejected the proposition that the risk must reach the level of certainty before a stay might be granted—in other words, the threshold is not so high that the contractor must actually be in external administration or must be positively proved to be hopelessly or otherwise insolvent.5

    Justice Hindman found ‘undisputed’ evidence of serious financial instability and that, if a stay is granted, the Contractor is most likely to financially fail.6 It was further observed that, even if it received the adjudicated amount, the Contractor was still likely to go into external administration as it would be insufficient to satisfy its debts.

    The court concluded that if the stay was refused, there would be a very high risk that the Contractor would not be able to repay the adjudicated amount should the Principal succeed in its claim for final relief. The practical effect of refusing the stay would be to transform the Contractor’s interim entitlement under the BIF Act into a final payment, unable to be recovered by the Principal, and at odds with the intended operation of the BIF Act.

    In a separate proceeding following this decision, a creditor of the Contractor successfully obtained an order that the Contractor be wound up.7

    The decision is currently under appeal.

    Discussion 

    Insolvency has been a major challenge for contractors, who are experiencing obstacles at every turn—high inflation, regulatory reforms, supply-chain issues, delayed effects of the pandemic, labour shortages etc. The main purpose of the BIF Act (and equivalent acts) is to help contractors be paid for the work they do, so stays to delay payment to contractors may have significant consequences and could potentially increase insolvency rates in the industry.

    New South Wales

    Since 2019, NSW has had a prohibition on companies in liquidation using the security of payment process8—the only jurisdiction in Australia to have such an express carveout. Companies in liquidation may not serve or enforce payment claims, or make applications for adjudication of a payment claim.

    Where contractors are not in liquidation, courts have been cautious in light of the policy of the statute and have undertaken a close analysis of the extent or certainty of the risk of prejudice or damage if a stay is not granted. Nevertheless, courts have been ready and willing to grant stays if the failure to do so would have the practical effect of making permanent that which, clearly enough, the legislature intended to be only interim.9

    Recently, the NSW Supreme Court noted that, although it does make it harder to obtain a stay when the contractor is not in liquidation, it by no means follows that a stay cannot be obtained unless it is.10

    The court further observed that:

    ‘up to a point, the more financial difficulty the contractor is in, the less reason there is for granting a stay, as the more likely it will be that the grant of such a stay will result in the contractor being deprived of the cashflow which is needed to sustain its operations. It is only when insolvency becomes inevitable, or at least highly probable, that the dynamics reverse because of the possibility that an interim payment will effectively become final.’11

    Indeed, in another recent decision, the court considered that even a ‘significant risk’ was not sufficiently certain of financial difficulty such that a stay should be granted.12 We note, however, in that case the contractor continued to trade, unlike the contractor in Taringa Property Group.

    The decision in Taringa Property Group, although the first of its kind in Queensland, is consistent with the approach taken in NSW.

    Victoria

    Victorian principals can still run the argument that contractors in liquidation may not use the payment regime, though this is unlikely to be without serious consideration by the courts due to conflicting decisions on this issue.13

    There is also a question of whether, in seeking a stay against a contractor who is not in liquidation, a principal is required to show that there is more than a real risk the contractor would not be able to repay the adjudicated amount in order to succeed.14

    At least one decision has granted such a stay, without requiring that higher standard.15 In that case, the stay was justified—save the fact of the parlous financial circumstances of the contractor—on the basis that it would be limited in time, and therefore minimal in the prejudice it caused the contractor.16 The likely takeaway is that, where the court is able to grant the stay on conditions or for a limited time period, application of a higher standard in the form of more than a real risk may be less relevant.

    On a wider note, principals in Victoria should be prepared to engage in more and broader adjudications in the near future as a result of the likely reforms to the current Victorian act. Consequently, it is expected that there will be an increase in proceedings seeking final determination of rights under contract and corresponding stay applications.

    To read more about Victoria’s proposed reforms, including the removal of Victoria’s unique ‘excluded amounts’ regime, removal of the concept of ‘reference dates’, an introduction of a blackout period and the introduction of a new provision allowing notice-based time bars to be declared unfair, see Government support for security of payment reform in Victoria.

    MIL OSI News

  • MIL-OSI China: Cash, confidence, consumption: How China’s policy kit fuels consumers’ wallets?

    Source: China State Council Information Office

    China unveiled a comprehensive policy package recently to boost consumer spending, reinforcing its commitment to making consumption a key driver of economic growth.

    The 30-point plan aims to strengthen consumer confidence by a whole set of measures including promoting income growth and reducing financial burden.

    Analysts described the pro-consumption push as an innovative move that underscores the government’s commitment to a people-oriented approach and its focus on investing in human capital.

    The holistic initiative, which combines fiscal, financial and regulatory tools, aligns with priorities outlined in this year’s government work report, which positioned “expanding domestic demand” as a top priority.

    A key aspect of the plan is its focus on tackling prominent constraints on consumption through three main measures: boosting spending power by increasing incomes and easing financial burdens, delivering high-quality supply, and fostering a consumption environment.

    As the world’s second-largest economy navigates domestic and external headwinds, policymakers are counting on the spending power of its 1.4 billion consumers to drive economic growth.

    Greater capacity, willingness to spend 

    Central to the plan is an unprecedented emphasis on demand-side support to bolster household consumption capacity through measures that foster reasonable wage increases, expand property income channels, and boost farmers’ earnings.

    For the first time in a policy document on boosting consumption, the plan explicitly highlights the importance of stabilizing both the stock and property markets, outlining targeted measures in a bid to “enhance spending power, stabilize expectations, and strengthen consumer confidence.”

    “There’s considerable focus on increasing both the capacity and willingness of households to consume,” Lynn Song, ING Chief Economist for Greater China, said in a note.

    The plan integrates consumption growth with improving livelihoods, introducing measures to ease household burdens in areas such as childcare, education, healthcare and old-age insurance, Li Chunlin, deputy director of the National Development and Reform Commission (NDRC), said at a press conference following the release of the initiative.

    Accordingly, China plans to explore a childcare subsidy system, increase fiscal subsidies for basic old-age benefits and basic medical insurance for rural and non-working urban residents in 2025, and appropriately raise basic pension benefits for retirees.

    The plan’s increased focus on tackling livelihood problems aligns with this year’s government work report, which pledges to “direct more funds and resources toward investing in people to meet their needs.”

    Increasing fiscal spending on human development and social safeguards not only helps create a sustainable consumption expansion mechanism but also reflects an approach where economic growth and the improvement of people’s well-being mutually reinforce each other, according to Jin Li, vice president of Southern University of Science and Technology.

    Expansion of trade-in program to boost demand 

    In a broader push to bolster domestic demand, China renewed its consumer goods trade-in program, increasing funding from last year’s 150 billion yuan to 300 billion yuan through ultra-long special treasury bonds.

    This year’s initiative also extends subsidies to more electric gadgets and home appliances including smartphones, tablets, and smartwatches.

    The push builds on the success of 2024, where 150 billion yuan in subsidies generated over 1.3 trillion yuan in sales across autos, home goods, and electronics, highlighting the program’s role as a near-term economic stabilizer.

    Amid strong policy support, e-commerce giant JD.com reported a 13.4 percent year-on-year revenue increase in Q4 2024, marking its highest quarterly growth in nearly two years, while its operating profit skyrocketed to 8.5 billion yuan, compared to 2 billion yuan recorded in the same period the previous year, the company’s latest performance report showed.

    This growth aligns with broader consumer optimism. Some 54 percent of Chinese consumers feel financially better off than a year ago, a 10-percentage point leap from the average in 2024, according to a report released by the German bank on Tuesday, Bloomberg reported.

    The upbeat findings suggest China is increasingly reaping the benefits of the government’s efforts to boost household confidence and consumption.

    Beyond immediate stimulus, policymakers are aiming for “bigger-picture themes” that will take time to unfold. The plan stressed the need to implement a paid annual leave system, ensuring that workers’ rights to rest and vacation are legally protected.

    “More flexible leave policies could encourage the more crowd-averse consumers to travel and spend,” Song said, noting that reform in the holiday system will result in “more aggregate demand.”

    Furthermore, the policy bets big on tech-driven consumption, prioritizing “AI+” innovations like self-driving vehicles, brain-computer interfaces, and robotics, underscoring China’s vision to integrate high-tech advancement with premium consumer experiences.

    Sustainable consumption growth 

    China’s intensified focus on domestic demand not only emerges as a necessity but also creates a wealth of opportunities.

    The urgency is evident as external shocks coincide with challenges in old growth engines, yet within these challenges lies unparalleled potential. China’s 1.4 billion consumers, bolstered by an expanding middle class of 400 million, the world’s largest, form a powerhouse with vast purchasing potential.

    Effective implementation of the pro-consumption action plan is of utmost importance, said Li, noting that challenges such as subdued consumer confidence and unmet consumer demands remain, requiring “significant” efforts to address them.

    The synergy between dozens of central departments will be strengthened to roll out specific policies, while local governments are encouraged to put forward nuanced measures in light of local conditions, the NDRC deputy director noted.

    “This year’s attention to boosting consumption, combined with last year’s relatively low base, will help consumption growth recover to mid-single-digit growth in 2025,” Song said. “Any further growth would likely hinge on a sustainable recovery of consumption.”

    MIL OSI China News

  • MIL-OSI China: AI-powered rubber-tapping robots designed to alleviate labor shortage

    Source: China State Council Information Office

    In a bid to tackle the chronic labor shortages plaguing its natural rubber industry, China has unveiled a mobile rubber-tapping robot, marking a leap forward in agricultural automation.

    Developed jointly by the Chinese Academy of Tropical Agricultural Sciences (CATAS) and Beijing-based tech firm Automotive Walking Technology, the self-navigating robot is set to undergo trials in rubber plantations in south China’s Hainan Province during the upcoming tapping season in April.

    In a demonstration video, the robot can be seen approaching a rubber tree, before halting with pinpoint accuracy and then extending its robotic arm to execute a precise cutting motion on the trunk. Within seconds after this cutting motion, the video reveals milky-white latex flowing steadily from the incision made by the robot.

    China’s natural rubber sector, vital for tire manufacturing and as a source of industrial supplies, is currently facing a significant workforce deficit due to its grueling working conditions, nocturnal shifts and high incidence of occupational diseases.

    “The rubber-tapping robots have been developed to address the exodus of rubber tappers, which is the industry’s critical pain point,” said Cao Jianhua, deputy director of the CATAS rubber research institute.

    The robot, equipped with a multi-degree-of-freedom robotic arm and caterpillar-track mobility, leverages AI-driven technologies to adapt to complex terrain and perform precision cuts.

    Its navigation system combines laser radar and multi-sensor fusion algorithms, enabling high-precision positioning in dense plantations. Also, visual tech determines tree bark depth and cutting angles, achieving 80 percent manual harvesting efficiency with matching latex quality.

    The rubber-tapping robot can harvest 100 to 120 trees per hour, powered by lithium batteries that provide over 8 hours of continuous operation. Notably, its 20-second rapid battery swap capability ensures uninterrupted workflow in large plantations.

    Once in the mass-production phase, the cost of the rubber-tapping robot will drop below 100,000 yuan (13,820 U.S. dollars), and for a 50-mu (3.33 hectares) rubber garden, robot-based tapping will recoup the purchase cost within about 18 months, Sun Yao, co-founder of Automotive Walking Technology, told Xinhua.

    “We’ve been in discussions with several multinational tire companies and rubber growers throughout Southeast Asia, including in Indonesia and Thailand, and they’re showing strong interest in our product,” said Cao.

    Cao’s team is continuing to refine its technology. Soon, users will be able to monitor the robots directly from their smartphones, get a clear picture of the rubber garden’s status, and use more big data and AI technologies for fully automated management.

    MIL OSI China News

  • MIL-Evening Report: Tennis pros rally for better pay and less punishing schedules, amid wider power struggles in world sport

    Source: The Conversation (Au and NZ) – By Eric Windholz, Associate Professor, Faculty of Law, Monash University

    Last week, the Novak Djokovic-led Professional Tennis Players Association (PTPA) announced it was suing the sport’s governing bodies – the men’s (ATP) and women’s (WTA) tours, the International Tennis Federation (ITF) and the International Tennis Integrity Agency (ITIA).

    The lawsuit:

    • seeks to change the prize money formula designed by the men’s and women’s tours (the PTPA says too little of the sport’s revenue goes to players)
    • aims to improve the “unsustainable” 11-month calendar and match schedules that often keep players on court well past midnight
    • alleges a “heavy-handed approach” by the ITIA
    • criticises the sport’s rankings system
    • wants to boost the number of combined men’s-women’s events.

    The union, cofounded by Djokovic five years ago, also alleges “anti-competitive practices and a blatant disregard for player welfare”.

    The lawsuit is just one example of a battle for control of international sport – the outcome of which will shape sport for years to come.

    The power of sport governing bodies

    Sport’s international governing bodies – such the International Olympic Committee, soccer’s governing body the Fédération Internationale de Football Association (FIFA) and, in the case of tennis, the ATP, WTA and ITF – are masters of their domains.

    These bodies exercise great power and autonomy over the competitions they administer. They determine who competes in their competitions, when and where, as well as rules and policies.

    These rules cover tournament schedules, player eligibility and anti-doping policies. Players, teams and even countries that breach these rules are subject to penalties including expulsion from competitions.

    Governments have largely been willing partners in this. They have respected the autonomy of these governing bodies and assisted them where necessary by, for example, hosting their mega-events such as the Olympics, World Cups and Grand Slam tournaments.

    However, this is changing.

    A changing landscape

    As shown by the PTPA lawsuit, players are seeking a greater share of sports’ economic pie, better working conditions, more freedom in selecting where and when they play, and a greater say in how their sports are run.

    Private investors also are seeking to share in the money being made from sport by establishing rival competitions.

    These include the Wall Street-backed, but ultimately ill-fated, European Super League (soccer); the International Swimming League, funded by billionaire swimming fan Konstantin Grigorishin; and the Saudi-Arabia backed LIV Golf tour.

    In response, some fans and lower-level teams are organising to protect their clubs from the influx of private money.

    In the United Kingdom, this has resulted in proposed legislation to establish an independent regulator of football.

    And all of this is occurring in the shadow of a broader geopolitical restructuring in which the West’s traditional hegemony over sport is being challenged by the wealth of the Gulf states, the assertiveness of authoritarian regimes, and the emerging economies of the Global South.

    The result is a contest for control between actors and forces, both powerful and passionate.

    The outcome of this contest is important because sport is a generator of significant economic activity (a recent study estimated the global sport industry to be the ninth largest industry on earth) and an important vehicle for driving social change – both of which also make it politically important.

    What does the future hold?

    When confronted with forces for change, sport governing bodies generally go through a three-stage process of denial (rejecting the need for change), resistance (fighting the change), and adaptation (conceding some autonomy while retaining ultimate control).

    The tennis dispute is travelling this well-worn path. Tennis’s governing bodies have denied the PTPA a seat at the table, so the PTPA is now taking the matter to court (early indications are tennis’s governing bodies will fight it vigorously).

    Predicting the outcome of litigation is fraught. However, sport governing bodies do not have a strong record defending the use of their power before the courts.

    Courts are more independent and less deferential towards sport governing bodies than the political arms of government.

    Recent decisions from the Court of Justice of the European Union offer evidence of this. It applied EU competition law to constrain the power of sport governing bodies to:

    Another example comes from the United States, where the Supreme Court struck down as an antitrust (competition) law violation, rules that limited the benefits student-athletes can receive for playing.

    This litigation led the governing body of collegiate sport, the National Collegiate Athletic Association, to propose a US$2.8 billion (A$4.45 billion) settlement that will allow colleges to pay their student-athletes.

    As for tennis, settlement of the PTPA litigation is possible, notwithstanding the current rhetoric.

    Indeed, some form of adaptation of sports’ governing bodies to accommodate the various forces and interests at play is the most likely outcome.

    Eric Windholz 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. Tennis pros rally for better pay and less punishing schedules, amid wider power struggles in world sport – https://theconversation.com/tennis-pros-rally-for-better-pay-and-less-punishing-schedules-amid-wider-power-struggles-in-world-sport-252721

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI New Zealand: Business and Politics – RMA reform – opening the door for investment – BusinessNZ

    Source: BusinessNZ

    BusinessNZ welcomes the Government’s commitment to reforming resource management laws, based on the principle of the enjoyment of property rights.
    “The latest announcement on phase 3 reforms is another step in the right direction,” BusinessNZ Chief Executive Katherine Rich said.
    “Current consenting processes are slow and costly, and projects can be rejected or have costly conditions placed on them due to the RMA. In many cases consent processes do not sufficiently recognise the economic and social benefits of development relative to other considerations.
    “There is a compelling case for making the consent process more affordable. A 2021 report for the Infrastructure Commission estimated that RMA consenting processes for infrastructure projects cost $1.29 billion per year.
    “There is also a need for compensation to be made available in cases where property is taken or reduced in value as a result of government regulatory action. It is pleasing that the Government is taking property rights seriously, as it should if we want to attract long-term investment into New Zealand.
    “In BusinessNZ’s view, the RMA will continue to inhibit New Zealand’s growth potential until it is properly amended to recognise property rights and allow responsible growth to happen.
    “We are hopeful that NZ may be turning a page, and moving towards a future where businesses and all New Zealanders can feel more confident about developing their property in ways that maximise the contribution our vast natural resource base can contribute to New Zealanders’ future economic well-being,” Mrs Rich said.
    The BusinessNZ Network including BusinessNZ, EMA, Business Central, Business Canterbury and Business South, represents and provides services to thousands of businesses, small and large, throughout New Zealand.

    MIL OSI New Zealand News

  • MIL-OSI USA: Mar 23, 2025 VTA Workers Slam VTA Board of Directors, VTA Management for Lack of Leadership, Insults to Workers, and Regressive Bargaining

    Source: US Amalgamated Transit Union

    VTA Assistant General Manager Greg Richardson calls VTA workers “uneducated”

    San Jose, CA – In a shameful VTA press briefing today on negotiations with ATU Local 265-San Jose, CA, to end the strike, VTA Board Chair Sergio Lopez and VTA GM Carolyn Gonot displayed a lack of leadership with an insulting contract offer disrespecting their frontline workers and the riders of the VTA.

    Earlier this week, during contract talks, in a shock to ATU Local 265 leaders, VTA Assistant General Manager Greg Richardson called VTA workers “uneducated.” The VTA also posted a dangerous video on social media accusing VTA workers of lying about contract talks. The video has since been removed.

    “The VTA is trying to bully their employees with this latest contract offer that has rolled back proposals on overtime and attendance. It’s reprehensible,” said Local 265 President/Business Agent Raj Singh. “This comes on the heels of Assistant GM Richardson calling our members uneducated earlier this week. The nerve of Richardson. He and the VTA management need to get off their high horse. The VTA is the one holding the riders in this community hostage. They can get a deal done to end this strike.”

    In the latest contract offer, the VTA has resorted to regressive bargaining by putting proposals on overtime calculations and attendance policy that had already been taken off the table months ago back in their offer.

    Furthermore, the VTA attempted to engage Governor Newsom to force VTA workers back to work. In response, the Governor told both parties to get back to the negotiating table and reach a fair and just contract that treats these workers with respect and dignity.

    “Once again, the VTA has shown a blatant disregard for the hardworking men and women who keep San Jose moving,” said ATU International President John Costa. “Our members deserve a fair contract that reflects their dedication and sacrifice. Instead, they’ve been met with disrespect and insults, with the VTA calling them uneducated and publishing and then deleting dangerous social media posts targeting their own employees. All of this happened after our members survived a mass shooting and risked their lives every day during the pandemic, serving the public. Shameful. It’s time for VTA to stop playing games and start treating transit workers with the respect they deserve.”

    MIL OSI USA News

  • MIL-OSI Economics: Money Market Operations as on March 21, 2025

    Source: Reserve Bank of India


    (Amount in ₹ crore, Rate in Per cent)

      Volume
    (One Leg)
    Weighted
    Average Rate
    Range
    A. Overnight Segment (I+II+III+IV) 5,71,400.25 6.33 5.15-6.65
         I. Call Money 16,518.82 6.33 5.15-6.50
         II. Triparty Repo 3,90,123.95 6.30 6.00-6.65
         III. Market Repo 1,62,325.58 6.39 5.50-6.50
         IV. Repo in Corporate Bond 2,431.90 6.63 6.60-6.65
    B. Term Segment      
         I. Notice Money** 548.90 6.43 5.90-6.45
         II. Term Money@@ 565.00 7.25-7.60
         III. Triparty Repo 190.00 6.23 6.00-6.50
         IV. Market Repo 0.00
         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 Fri, 21/03/2025 3 Mon, 24/03/2025 96,581.00 6.26
      Fri, 21/03/2025 5 Wed, 26/03/2025 46,204.00 6.26
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Fri, 21/03/2025 1 Sat, 22/03/2025 9,778.00 6.50
      Fri, 21/03/2025 2 Sun, 23/03/2025 0.00 6.50
      Fri, 21/03/2025 3 Mon, 24/03/2025 183.00 6.50
    4. SDFΔ# Fri, 21/03/2025 1 Sat, 22/03/2025 1,32,199.00 6.00
      Fri, 21/03/2025 2 Sun, 23/03/2025 1.00 6.00
      Fri, 21/03/2025 3 Mon, 24/03/2025 6,756.00 6.00
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       13,790.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo Fri, 21/02/2025 45 Mon, 07/04/2025 57,951.00 6.26
      Fri, 14/02/2025 49 Fri, 04/04/2025 75,003.00 6.28
      Fri, 07/02/2025 56 Fri, 04/04/2025 50,010.00 6.31
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       9,517.37  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     1,92,481.37  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     2,06,271.37  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on March 21, 2025 8,89,240.46  
         (ii) Average daily cash reserve requirement for the fortnight ending March 21, 2025 9,19,133.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ March 21, 2025 1,42,785.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on March 07, 2025 54,323.00  
    @ 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. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2024-2025/2082 dated February 05, 2025, Press Release No. 2024-2025/2138 dated February 12, 2025, and Press Release No. 2024-2025/2209 dated February 20, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/2442

    MIL OSI Economics

  • MIL-OSI Submissions: Scams – Less than 10% of Aussies would discuss their scam experience with family

    Source: Commonwealth Bank of Australia (CBA)

    The research also reveals people’s confidence in spotting a scam decreases with age.

    New research commissioned by CommBank shows more than 90 per cent of Aussies believe that talking about scams with their loved ones will help to build awareness, however only 8 per cent say they would be comfortable discussing with family about being scammed.

    The research also found that around 60 per cent of Australians are more concerned about scams than they were a year ago.

    When it comes to recognising and avoiding scams, 33 per cent of people under 60 say they are very confident in spotting a scam, this drops to just over 20 per cent for those over 60.

    Recent data from the National Anti-Scams Centre (NASC) also shows that older Australians are overrepresented when it comes to scam losses. The government organisation’s latest Targeting Scams Report shows that people over the age of 65 accounted for around 31 per cent of losses reported to Scamwatch, despite only making up just over 17 per cent of the population.1

    As part of the Bank’s commitment to providing Australians with greater education about scams, CBA is collaborating with Australian journalist Jess Rowe and her mother Penelope to launch a new campaign – Talk to a Loved One.

    The education campaign aims to encourage conversations about the dangers of scams between generations. By addressing intergenerational knowledge gaps, it seeks to equip all Australians, particularly older generations, with the information and tools necessary to protect themselves and their families.

    CBA Head of Group Fraud James Roberts said: “At CBA we have seen customer scam losses decrease by 70 per cent over two years, and we know education is one of the most important parts of fraud and scams prevention. The research shows older Australians feel particularly exposed to scams, so we hope this education campaign helps change that, and all Australians learn how to spot a scam and stay safe.

    “Our campaign ambassadors, Jess Rowe and her mum Pen, embody the importance of open family conversations and reflect exactly what we are encouraging all Australians to do—talk to their loved ones about scams, share knowledge, and protect each other,” Mr Roberts said.

    CBA is collaborating with journalist Jess Rowe and her mother Penelope to launch Talk to a Loved One.

    To support Australians in having these crucial discussions, CommBank has launched a new scam safety tips webpage filled with comprehensive resources and educational material, including a conversation guide.

    When speaking about taking part in the campaign, Australian journalist Jess Rowe said: “It’s so important to talk openly about fraud and scams with our loved ones. By sharing our experiences and supporting each other, we can create a safer environment for everyone. I’m thrilled to be part of a campaign that encourages these crucial conversations and empowers Aussies to protect themselves and their families.”

    “In the first half of this financial year CBA invested more than $450 million to prevent fraud, scams, financial and cyber crime and while this is important, so too is raising awareness in the community on how we can protect ourselves,” Mr Roberts said.

    CBA is urging all Australians to take part in the Talk to a Loved One initiative by:

    Having regular conversations about scams with family and friends.
    Staying informed about the latest scam tactics.  
    Remembering to implement and educate others on these three simple steps to help prevent scams:  

    Stop: Does a call, email or text seem off? The best thing to do is stop and take a breath. Real organisations won’t put you under pressure to act instantly.
    Check: Ask someone you trust or contact the organisation the message claims to be from.
    Reject: If you’re unsure, hang up on the caller, delete the email, block the phone number. Change your password if you think someone else may have it, and make sure you pick something long and unique.

    Seeking help immediately if you suspect a scam.

    For more information about the campaign and how to stay safe from scams, visit commbank.com.au/scam-tips

    Note: The research, commissioned by CBA and conducted by YouGov, was carried out online between 6th – 12th January 2025 with a nationally representative sample of 1,500 Australians aged 18 years and older.

    MIL OSI – Submitted News

  • MIL-OSI China: E-commerce firm gets OK to resume operations after rectification

    Source: China State Council Information Office

    A Hefei joint investigation team declared on Sunday that the e-commerce company Three Sheep Group, which had come under investigation last year for misleading consumers during live-streamed sales, has met the necessary requirements for rectification and fit to resume operations. 

    In October 2024, the company paid a fine of 68.95 million yuan ($9.5 million) in full, according to the investigation team. They have also compensated a total of 27.78 million yuan for products implicated in the case, including “Hong Kong Meicheng Mooncakes” and “Australian Grain-Fed Beef Rolls”. 

    According to earlier reports, the company had deceived customers during live-streamed sales of a mooncake brand, which caused a stir as despite its Hong Kong-suggestive name, no physical stores were located in Hong Kong, with packaging revealing production in Guangzhou and Foshan, Guangdong province.

    The company will continue to uphold the principle of full compensation, implementing a policy of refunding three times the purchase price to ensure proper handling of refunds and compensations, the investigation team said.

    Addressing concerns regarding product selection and quality control, promotional activities, after-sales services, and internal management, the investigation team provided guidance to the company in making 89 specific rectification measures and emphasized the importance of effectively implementing these changes.

    It also urged the company to reflect on inappropriate behaviors during previous live-streamed sales, adhere to requirements for online civility, enhance the management of hosts and live events, strengthen social responsibility and cultivate a positive image.

    MIL OSI China News

  • MIL-OSI Australia: New appointments to arts institutions

    Source: Workplace Gender Equality Agency

    The Albanese Labor Government has made a range of appointments to arts bodies and cultural institutions to ensure they remain under strong leadership.

    • Mr Tony Ayers has been appointed as a member of the Council of the National Museum of Australia for a three-year term.
    • Ms Sue Hampel OAM has been reappointed to the National Archives of Australia Advisory Council for a three-year term.
    • Mr John Barrington AM has been reappointed as Deputy Chair to the National Portrait Gallery Board for a three-year term. 

    Minister for the Arts, Tony Burke, said the appointees would lend a deep well of expertise to guide the administration of these important organisations.

    “Each appointee brings years of dedication and experience across the arts and public sectors that positions them well for these roles.

    “Protecting our beloved cultural institutions for future generations means having the best leadership in place to safeguard them.”

    Mr Tony Ayres is an award-winning Australian director, producer, showrunner, screenwriter, and editor with more than 33 years’ experience in film and television. Mr Ayres’ feature films and television shows have been nominated for over 100 Australian and international awards, and have won more than 60 of these awards – including an International Emmy, a BAFTA, a Golden Horse, six AACTA awards, and six Logies. Mr Ayres is Executive Producer at Tony Ayres Productions, a Member of the Advisory Board of Australians in Film, and a Company Director at Big and Little Films.

    —-

    Ms Sue Hampel OAM has been a member of the National Archives Advisory Council since 2019. Ms Hampel is working as a teaching associate and research assistant at the Australian Centre for Jewish Civilisation at Monash University and is a well-known public speaker and lecturer. She holds a Masters degree in Holocaust and Genocide Studies and is the co-President of the Melbourne Holocaust Museum. Ms Hampel has been recognised for her teaching and community service by receiving numerous awards including a Medal of the Order of Australia (OAM) in 2014, for Service to the community through the promotion of understanding and tolerance. 

    Ms Hampel is a representative of the Australian delegation to the International Holocaust Remembrance Alliance (IHRA). She is an expert in Holocaust education and served as the International Chair of the Education Working Group in 2021.

    —-

    Mr John Barrington AM has served as Deputy Chair on the National Portrait Gallery of Australia Board since May 2022. He is co-founder and previously Managing Director of Artificial Intelligence (AI) company Artrya Ltd, developing AI solutions to improve the diagnosis of heart disease and is Managing Director of Barrington Consulting Group. He is Chair of John Curtin Gallery and Harry Perkins Institute of Medical Research and a Director of Health Translation Group Ltd. He was previously Chair of Perth International Arts Festival, Deputy Chair of Creative Partnerships Australia, Deputy Chair on the Federal Government’s Creative Economy Taskforce and was awarded an Honorary Doctorate of Commerce from Curtain University in 2022. In 2019 he was appointed a Member of the Order of Australia for significant service to the community of Western Australia

    MIL OSI News

  • MIL-OSI Economics: Panasonic’s Video Mixer Plug-in Version 2 Enhances Real-time Video Production with AI-powered Face Filter and Automatic Face Picture-in-picture

    Source: Panasonic

    Headline: Panasonic’s Video Mixer Plug-in Version 2 Enhances Real-time Video Production with AI-powered Face Filter and Automatic Face Picture-in-picture

    Osaka, Japan, March 24th, 2025 – Panasonic Entertainment & Communication Co., Ltd. announced today that Version 2 of its AW-SF400 Video Mixer Plug-in, a paid plug-in for the company’s software-based Media Production Suite platform, will be released in the second quarter of CY2025. The new update will introduce advanced AI-driven features to achieve even greater efficiency for simplifying high-quality video production.
    Note: For the latest information on plug-in availability, please refer to the website shown below.
    Video Mixer Plug-in Version 2 is planned to be showcased at the National Association of Broadcasters’ 2025 NAB Show (Booth #N1311), in Las Vegas, USA from April 6–9.The current version, AW-SF400, offers powerful tools, such as AI Keying, which extracts subjects from backgrounds without requiring a green screen, and Smart Switching, which enables quick application of various compositing patterns with a single click. Version 2 enhances these capabilities even further with AI-driven improvements.
    One of the key additions is the AI Effect Filter, which uses AI-based face detection and recognition for real-time mosaic processing. When installed on a PC, the plug-in automatically detects faces during shooting and applies preset filter effects, such as mosaics, in real time.
    In addition, Version 2 introduces AI Face Crop, an automatic face PinP (picture-in-picture) processing feature designed to streamline live video production. Using AI face detection technology, the system can identify and track specific individuals and automatically insert their faces as PinP overlays. By allowing a single camera to display multiple face PinP overlays simultaneously, the new feature eliminates the need for multiple cameras. Even non-professionals can efficiently manage multi-person video production for streaming corporate events, lectures, etc., as well as broadcasting.
    Version 2 also adds audio input/output support and external API integration to optimize live video production workflows and reduce the burden of on-site operations.
    With growing privacy concerns in online streaming, broadcasting and event-video production, there is an increasing need to ensure that unrelated people do not appear on camera. However, this can be difficult to achieve during shooting, and applying mosaic effects manually in post-production is time-consuming and labor-intensive. Version 2 addresses these concerns with AI-driven functionality, allowing video creators to work more efficiently. Panasonic remains committed to enhancing its Media Production Suite to meet the evolving needs of video professionals.

    Key Features:

    1. AI Effect Filter (Face Filtering Processing)

    Leveraging AI technology, this feature detects faces in video feeds and applies real-time filtering effects, such as mosaics or blurring.
    Face filtering for up to 25 people at a time.
    Filtering only specific faces while leaving others unaltered.
    Selected faces can be excluded from filtering.
    Three filter effects: Blur, Mosaic, and Image Overlay.
    Blur and Mosaic effects can be adjusted for intensity.
    Image overlay allows assigning different images to individual faces (up to 8 people).
    AI Effect Filter Examples:

    2. AI Face Crop (AI-powered Auto Face PinP)

    This feature uses AI to detect and track faces in real time and automatically insert them as PinP overlays.
    Cropping and PinP insertion for up to 8 people.
    Tracking continues if subject moves and resumes if subject reappears after exiting frame.
    Customizable layout positioning for cropped images.
    Frames can be added around cropped images (adjustable width, single-color only).
    Provides alpha-channel output for seamless keying and external switcher integration.
    Specific registered faces can be assigned to each PinP overlay.
    AI Face Crop Example:

    3. Enhanced Audio I/O and External API Integration

    Audio Input/Output Capabilities
    Embedded audio input/output via SDI, NDI® and SRT.
    Customizable audio channel assignment for each output, with input audio details viewable in Settings menu.
    Audio output monitoring via PC’s Line Out.
    Seamless audio source switching even while video output is active.
    Audio Follow Video for automatic audio adjustment when switching PGM (IN and Scene only).
    Configuration options for audio sources when PGM is selected in Scene settings.
    Output volume adjustment directly from multi-view screen.
    External API Integration
    HTTP/TCP-based external control.
    Four key control commands: PGM Switching, DSK ON/OFF, PGM/KEY Capture and AI Keying Background Image Capture
    For more details on the Video Mixer Plug-in Version 2:https://pro-av.panasonic.net/en/software/mps/vm/
    Note: Product specifications are under development and subject to change prior to release.

    Media Contact:

    For more information about this topic,please contactpro-av.ad@gg.jp.panasonic.com 

    About Panasonic Entertainment & Communication Co., Ltd.
    Panasonic Entertainment & Communication Co., Ltd. established in April 2022 as part of the Panasonic Group’s switch to an operating company system, is strengthening the bonds among people and enriching our customers’ lives by providing consumer electronics, including AVC products such as OLED TVs, Lumix digital cameras, headphones, phones, intercoms, and more, as well as business products and solutions including for broadcast, professional AV, and sound systems globally. Our mission is to offer people new emotion and relaxation through our entertainment and communication solutions. To fulfill this mission, we strive to act with professionalism to continuously recreate the future by connecting people. For more details, please visit https://www.panasonic.com/global/peac.

    MIL OSI Economics

  • MIL-OSI Economics: Harnessing the Benefits of Regional Cooperation and Integration

    Source: Asia Development Bank

    Transcript

    The rapid growth of the Asia and Pacific region into a global economic powerhouse can be fully understood through the crucial role of deepening regional cooperation and integration.
     
    In recent decades, the region has made remarkable strides in integration through the accelerated growth in trade, investment, movement of people, and―importantly―knowledge.
     
    Asia’s trade integration is drawing closer to that of the European Union, with intraregional trade shares increasing by 10 percentage points from 1990 to 2023. 
     
    Foreign direct investment within Asia has grown, with 52% of FDI from 2013 to 2023 coming from within the region, boosted by investments in services, digital industries, and green sectors. 
     
    Financial integration has lagged behind trade and investment. 
     
    Yet it remains a critical conduit for translating the region’s existing and future savings into regional investments.
     
    Expanding markets and income has made Asia a crucial source of remittances and tourism, beyond pre-pandemic levels. 
     
    For several economies in the region, they have become financial lifelines.
     
    While the region is backed by strong regional cooperation and partnership, growing risks of geopolitical tensions and global fragmentation calls for renewed attention to the benefits of regional cooperation and integration in better cushioning external shocks.
     
    The region needs to broaden, deepen, and modernize its free trade agreements and investment treaties.
     
    Also, existing regional financial arrangements must upgrade their effectiveness to safeguard the region’s financial stability.
     
    Digitalization must ensure it helps facilitate the secure movement of people, money, and ideas; and lower transfer costs.
    Tourism can thrive only if improved connectivity―along with liberal air transport and visa policies―can expand regional travel opportunities.
     
    With these efforts, regional cooperation and integration will increasingly contribute to economic prosperity, help tackle the climate crisis, narrow the digital divide, and navigate geopolitical challenges in the coming decades
     
    To learn more, please read the Asian Economic Integration Report 2025. 

    MIL OSI Economics

  • MIL-OSI Australia: Press Conference – Parliament House, Canberra

    Source: Historic Cooma Gaol listed on the NSW State Heritage Register

    ANTHONY ALBANESE, PRIME MINISTER: Thank you very much for joining us. And I begin by giving a shout out to all those mums and dads and carers who are dropping their young ones off at school this morning for the school drop off right around the country and indeed for them, but most importantly for the young Australians to come, this is a historic day. Today we reach the point for the first time in Australian history where every student, public and private, will be delivered the school funding that they deserve. The School Resourcing Standard that was identified by David Gonski more than a decade ago. By Queensland agreeing to sign up with the agreement put in today, will change lives because public education changes lives. Public education is what is accessible and available to all Australians. And from today we can announce that every little Queenslander will have a better chance to reach their potential. Nothing is more important in the role of the Commonwealth and state and territory governments than delivering opportunity for young Australians. And it is education that opens the doors of opportunity and today we are widening them. This historic agreement means that every Australian child who goes to a public school will now receive a fully funded education. The private school students had reached the SRS standard previously. But what the agreements between the Commonwealth and our eight state and territory governments have delivered is that every student, regardless of which school they go to, will receive this funding. This agreement with Queensland will deliver an estimated $2.8 billion in additional funding for Queensland public schools over the next decade. This represents the biggest ever investment in Queensland public schools by an Australian government ever. In Queensland, we expect this to support some 560,000 public school students. It isn’t a blank cheque. This money is tied to real reforms like evidence based teaching practises, phonics and numeracy checks, catch up tutoring and more mental health support. Today’s announcement contributes to an estimated $16.5 billion in additional Commonwealth funding to public schools across the nation from 2025-2026, for the decade ahead to 2034. It represents the biggest new investment in public schools by an Australian government ever. And I do want to thank Premier Crisafulli for the constructive engagement that we have had to deliver this agreement. Constructive engagement that’s now reflected with agreements between every government right across this country, every state, every territory, combining with the Commonwealth. On election night in 2022, I spoke about education as being the key to widening those doors of opportunity. What my Government is doing in early childhood education, now in school education, with our higher ed agreements and with Free TAFE, is delivering across the board so that every child will have the opportunity to fulfil their potential. That’s what aspiration is about. That’s what people want for their young sons and daughters. And indeed, the beneficiaries of this agreement today include obviously people who haven’t been born yet. This is intergenerational reform that will make an incredible difference. And I do want to thank the Premier, we’ve engaged constructively in this over a period of months and today we’ve reached what is a historic agreement.
     
    DAVID CRISAFULLI, PREMIER OF QUEENSLAND: Thanks, PM. It is a historic agreement and today I can confirm that Queensland has secured the biggest investment in schools in our nation’s history. And we are delighted to be standing here with you Prime Minister, thank you very much for the way that you’ve negotiated with us. This means a lot to Queensland and it means a lot because we’ve got some challenges in our schooling systems that other states don’t have. We are the most decentralised state. We’ve got a large portion of rural and regional and Indigenous schools. We have challenges because of that, not just geographically, but challenges that are historically been baked in. As a result, our NAPLAN results aren’t what we have wanted to see in recent years. What this does is give us a decade long commitment to be able to turn the funding shortfall around and with that will come the ability to turn those results around. And what excites me about this deal is it’s not just about a financial injection. It’s also about making sure that we meet standards. It’s also about making sure that we give every child the opportunity to be their best. And we want that and we want them to be their best, whether they’re in the capital or in the smallest of rural or remote schools. It’s important that that money does flow. This is a 10 year deal that will see an immediate investment, but also will deliver long term generational reform that’s important for Queensland, for what we want to achieve. We want to make sure that we have well educated children who become great performing members of our state. And we’ve got a lot ahead as a state. And making sure that we could sign this education deal means a lot to us. And we are delighted with the agreement that’s been struck and we are determined to make sure that the education standards for Queensland kids continue on an upward trajectory. And with that comes the best for our state. Thanks very much.
     
    PRIME MINISTER: We’ll hear from Jason and JP and then we’re happy to take questions.
     
    JASON CLARE, MINISTER FOR EDUCATION: First, I want to thank the Prime Minister. This is real leadership in action. This is a Prime Minister who gets it and who knows how to get things done. Who knows how to work with the states and work with different political parties. A Prime Minister who gets how important this is for our kids and for our future. I also want to thank you, Premier, for all of the work that we’ve done together to get this deal across the line. Bringing forward funding, just extraordinary, sir. And I take my hat off to you and to JP. Absolute legend, mate. It’s been wonderful working with you and looking forward to working with you in the future. This is the last piece in the puzzle. With the agreement that we’ve just signed, it means that every public school in the country will now be fully funded. And that has never ever happened before. It should have, but it hasn’t. Now it will be and it will change kids’ lives. This is the biggest investment by the Commonwealth Government in public schools ever. As the Prime Minister said, it’s worth about $16.5 billion over the next decade. But it’s not a blank cheque. This money is tied to real and practical reforms to help children who fall behind to catch up and keep up. Ultimately help more young people finish high school. It’s bigger than that. It’s about helping to make sure that every child gets a great start in life. It’s what every mum and dad wants for their child and it’s what every Australian child deserves. You know, we know that a good education can change a life and a good education system can change a country. If you think back to the 1980s, to the 1990s, when some of us were at school, the number of kids finishing high school skyrocketed. It went from about 40% of kids to almost 80%. That changed us as a country. Now, in the last 10 years, that percentage has gone backwards. It’s dropped from about 83% to 73%. And that’s happening in public schools. We’ve got to turn that around. Fundamentally, that’s what this is all about, making sure that more young people finish school. It’s more important today than it was when we were at school. This is building Australia’s future in action. This is real microeconomic reform. If we’re going to build the country of our imagination, then we need people to build it. We’ve got to build the skills of the workforce today and tomorrow. We’ve got to make sure that more young people finish school and then go on to TAFE or to university and can build the career of their dreams. And that’s what this is about. And Albo, as a kid from public school I just want to say thank you from the bottom of my heart. This is going to change the lives of kids at school today, kids that go to school tomorrow, children that aren’t even born yet. It’s going to make our education system better and it’s going to make us an even better and fairer country.
     
    JOHN-PAUL LANGBROEK, QUEENSLAND MINISTER FOR EDUCATION: Thanks, Jason. Well, can I also say as a returning education minister, hopefully this marks the end of the education wars because over a decade ago when I was Minister for Education, Training and Employment in a former government, was when we had the Gonski report and we had this constant debate about special needs in terms of what the states had. And as the Premier has mentioned, Queensland does have more of those areas of needs, whether it’s disability, Indigenous, socioeconomic status, small, regional, remote. Queensland has more than any other. And if we’re going to have league tables about schools, then no wonder Queensland’s had trouble competing. But this agreement today really does mean a big change for Queensland. It’s something I’m personally very appreciative of. I want to thank Jason as well for, he and I have had numerous conversations over the last four to five months. First of all we had to do a one year deal and after 10 years of declining investment or the former government in Queensland not putting enough funding in it means that now as a result of this agreement we’re reaching 75% in Queensland, four years ahead of the previous agreement or what the intended time was going to be. So, I want to thank the Premier and the Prime Minister as well. It’s been protracted negotiations but importantly for Queensland schools and I’m also state school educated, something I’m very proud of for in my family that’s made a big difference to my life and I know it will continue for other Queensland students. This is going to have a real impact in Queensland in education and across the country.
     
    PRIME MINISTER: Thanks JP. Happy to take questions.
     
    JOURNALIST: Has there been deals, arrangements locked in for how fast the states, all the states are going to lift their funding amounts and this announcement today that you said $2.8 billion just for Queensland, your Finance Minister’s announced $2.1 billion of savings in the budget. Is this baking in more spending?
     
    PRIME MINISTER: No, because we accounted for most of this investment is already in MYEFO. There will be some additional investment given to Queensland that will be accounted for in the pre-election fiscal outlook. This is an investment in our young Australians. I can’t think of anything that is more worthwhile than investing in the opportunity of a young Australian and this will make an enormous difference. It has been spoken about for a long period of time, as JP said, people spoke about, the Gonski review occurred under the former Labor government. We then had in 2014 budget $30 billion ripped out of education. Since then we’ve seen school completions decline from 83% to 73%. We need to, in public schools overwhelmingly, we need to make sure that we compete not on the basis of driving down wages but we compete on the basis of how smart we are. And what this is is seizing opportunities. And Queensland does have particular challenges because it is the most regional of states and we’ve worked through all of these issues constructively but we have fully funded all of these agreements will be there. We’ve gone through our ERC processes, the Premier has been through his. But I’ll ask the Premier to comment.
     
    PREMIER CRISAFULLI: That’s a very good question. As part of this deal we have had to bring forward some funding at a Queensland level as well to secure the deal. But so we should. We’ve under invested in public education as a state for too long and this was an opportunity too good to miss. It was an opportunity to bring two levels of government together. But ultimately it’s about kids, ultimately it’s about can we get an outcome for children. And at the moment, when I look at Queensland’s education standards over many years it hasn’t been what it should be. And that’s not because of the kids, it’s not because of the teachers, it’s because of the broken system. And today we start putting together that broken system and outlining a funding pathway but also driving results. And that’s good news for everyone.
     
    JOURNALIST: Just on the schools funding now that all the states and territories have kind of signed on, what will this mean for the educational divide going forward? Because for every public school that still has demountables with air conditioning that doesn’t work, there’s private schools that are spending millions of dollars for performing arts venues with orchestra pits or multi-million dollar swimming pool centres like how will this lessen that educational divide that will be going on?
     
    PRIME MINISTER: What we want to make sure is that every parent, when they make a decision which is up to them of where their child goes to school, that they can have confidence that that child will receive the level of support that they deserve. It also is about making sure that children don’t get left behind. What we know from the testing that occurs is that if you wait until a child reaches the middle of primary school, it’s too late. Part of this agreement and the tying of this funding is for Year One testing, is making sure that if a young person needs that one on one help or small group help to make sure they’re not left behind, they get that really early on, they get to catch up, they don’t get to fall behind and then have issues later on. And so this is an investment that will pay off because we know that when people do fall behind, students, they can take forever or sometimes just don’t catch up. That’s what those figures of the decline in Year 12 completion shows. You know, the Hawke Government made the decision to lift very consciously the level of Year 12 completions from three out of ten to eight out of ten. What we’re doing as a Commonwealth, in partnership with Queensland and other states and territories, is making a conscious decision that children will not be left behind.
     
    JOURNALIST: A couple of years before you got the job, the Prime Minister and the premiers did a deal on the NDIS to try and bring it back under control. They offered the states, they extended the GST deal for another two years and guaranteed hospital funding, etc. Are you, is your state any closer to holding up your end of the deal and taking responsibility for foundational support?
     
    PREMIER CRISAFULLI: Well, of course we’ll continue to negotiate in good faith and I hope what today proves is that we will always negotiate in good faith, but we’ll always look for the best deal for Queensland. I don’t think that’s any surprise to the Prime Minister with, we negotiated hard, but in the end I think we’ve got a good outcome. Good outcome for Queensland and a good outcome for Australia.
     
    PRIME MINISTER: Just here and then, Paul.
     
    JOURNALIST: Prime Minister, you’ve committed to legislate to protect salmon farming in Macquarie Harbour.
     
    PRIME MINISTER: Have we got anything else on the biggest schools announcement? Can we stick to if there are schools questions, if not happy to move on?
     
    JOURNALIST: A school of fish.
     
    PRIME MINISTER: Paul is always focused on the micro.
     
    JOURNALIST: So, salmon fishing, you’ve committed to legislate to protect it in Macquarie Harbour. How will that work and will that legislation have implications for environmental considerations in other industries?
     
    PRIME MINISTER: Well, what we know is that the environmental science tells us that the skate is at the same levels that it was back a decade ago. We responded to the science to provide certainty. My Government makes no apologies for supporting jobs. That’s what the Labor Party does. We support jobs, but we also support sustainability, which is why we’ve invested $37 million for sustainability, for oxygenation. That’s why we’re engaged as well in what has been a very successful breeding program as well.
     
    JOURNALIST: Some of your colleagues believe that you’ve got a sense of momentum, that you might call the election as soon as you can after this sitting period’s over, they want to head back to their electorates very quickly. Do you want to seize the moment you’re in and call the election as soon as you can after Thursday? And Premier, you’ve had some time to speak to Peter Dutton now that you’re in the job. Do you have any more confidence in his nuclear plan now that you’ve had a chance to look at it?
     
    PRIME MINISTER: Well, on the first, I’m told by my office that when we called this press conference, some thought we were about to call the election the day before the Budget. So, I say consistently, as I have said privately and publicly, three years is too short. I can now confirm the election will be in May. I’ve been saying that for a year. I was advised this time last year, in order to stop tax cuts going forward, that we should call an election. And I ignored that call by Mr Dutton and I continued to govern. We’ve got a Budget to hand down tomorrow night. It’s an important Budget that will set Australia up on the path to a better future. And I look forward to that. I look forward to some policy besides the three that have been announced. The nuclear plans, the $20,000 lunches and the cuts that we don’t know about, coming out sometime between now and May. But we’re very clear about what our agenda is. And it’s an agenda of governing. And what I’m doing today is governing, putting in place these important reforms.
     
    PREMIER CRISAFULLI: You won’t get running commentary from me about policies in Canberra, that’s for this guy and Peter to do. I don’t think Australians or Queenslanders or any of you will be too surprised with who I’m backing in the Federal Election. Of course I’m backing Peter – 

    JOURNALIST: It’s not contrary though, Premier (inaudible) reverse the ban on nuclear –
     
    PREMIER CRISAFULLI: But it is, it is because I’m – no, it is because I’m here signing the biggest education deal in my state’s history and that’s pretty bloody important to me. And, you know, I’ll let others run political commentary. I’m here to talk about something that matters to parents in my state.
     
    JOURNALIST: On the Olympics stadiums there have been some major changes announced – thanks, Prime Minister – today, or major changes are due. Do you have a Plan B if you can’t renegotiate with the Prime Minister on moving funding away from Brisbane Live Arena to other venues?
     
    PREMIER CRISAFULLI: Well, firstly, it’s been 1430 days since Queensland was awarded the Olympic and Paralympic Games. I reckon if I told you and didn’t wait until tomorrow, I’d probably be in strife from my gallery. But look, we’ve got a plan and it’s a plan to make sure that we do deliver generational infrastructure. And it’s a plan to make sure that we do host great Games when the eyes of the world are on us. And I want people to understand that we – yes, there’s been a long time since we were awarded the Games, but I do believe we’ve got a plan that can get the show back on the road.
     
    JOURNALIST: Premier, have you raised the Olympics in discussions with the Prime Minister?
     
    PREMIER CRISAFULLI: I reckon we’ve spoken a lot about it, but we’ve negotiated well together. I think that’s fair. We’ve worked together well and that’s always my style. I’m on Team Queensland. Of course, there’s been some strong negotiations. Two people of Italian descent, you’d expect that. But there’s nothing that can’t be solved over a bit of common sense and a cannoli. Two cannolis, and I bought both of them.
     
    PRIME MINISTER: And I can confirm that the Premier has, on two occasions, given me cannolis and I haven’t declared them. So, I declare them now just in case I get into some trouble.
     
    PREMIER CRISAFULLI: They were good cannolis.
     
    PRIME MINISTER: We regard that as a cultural thing rather than anything else. And they’re fine cannolis, I’ve got to say. We’re going to go: 1, 2, 3, 4, and then we’re done. Oh, 5 – just got in.
     
    JOURNALIST: Prime Minister a question for you and one for the Premier. Peter Dutton yesterday described your energy rebate extension as a Ponzi scheme. His Shadow Treasurer said it was putting a band aid on a bullet wound, yet they’re supporting it. I’m just wondering what your view is of that. And, Premier, can you tell us, are you going to break your election promise tomorrow about no new venues?
     
    PRIME MINISTER: On the first, it says something about the Coalition – I’m trying not to be too partisan here, standing next to the Premier –
     
    PREMIER CRISAFULLI: I’m out of the shot.
     
    PRIME MINISTER: But whether it’s our Medicare tripling of the bulk billing incentive for all 21 million Australians, the 50 new Urgent Care Clinics, the $25 for medicines on the Pharmaceutical Benefits Scheme, the freezing of the beer excise for two years, or a range of other measures – including the extension of Energy Bill Relief – the Opposition, having opposed all of these things for almost three years, have just said yes. I guess they’ve got to have something to say about policy and they don’t have any of their own. So, that has been their fallback position. But I think that Australians will have a look at their rhetoric and show that their heart isn’t in it. And in the rhetoric that they use, attacking this means that it can’t be secure. The last time round there was an election where the Coalition formed government was in 2013. They said there’d be no cuts to education, no cuts to health. The 2014 Budget had $50 billion cut from hospitals and $30 billion cut from education. And we’ve been playing catch up ever since. And in part, that’s what today’s announcement is about.
     
    PREMIER CRISAFULLI: Well, one day to go, Mark, one day to go. One thing’s for certain, though, is we set about a process to make sure that we could get that show back on the road. And I think even the most, even the most objective person – even the most partisan person – looking at where we are at the moment, would acknowledge that it’s been three years of chaos and crisis since we were awarded the Games. And I’m a big believer when you make decisions, you put the information out. I’ve done that throughout my career and I’ve certainly done it in recent times dealing with the disasters. I have this view that if you provide the information and the reasons behind your decision, whatever those decisions are, I think overwhelmingly people will respect where we’re going. And tomorrow we will outline a plan to make sure that we can deliver generational infrastructure for every square inch of the state. And I think it’s an exciting time and I want Queenslanders to believe that we can deliver something when the eyes of the world are on us that makes us feel proud to be Queenslanders.
     
    JOURNALIST: Prime Minister, yesterday your Treasurer said it remains to be seen when the next surplus will be delivered. Do you hope another surplus will be delivered during your Prime Ministership? And Premier, when the GST cover was recently announced by the Commonwealth Grants Commission, your Treasurer, David Janetzki, was quite critical of the funding that had been announced for Queensland under that deal. Was the GST arrangements subject to discussions today?
     
    PRIME MINISTER: You’ll see the Budget and all the figures tomorrow night. Not long to wait now. One more sleep.
     
    PREMIER CRISAFULLI: We don’t believe it was a good decision. We acknowledge how it was made, we acknowledge the framework behind it. But we, you know, I wouldn’t be doing my job if I didn’t tell you all today that we’re going to continue to work pretty hard to make sure that some of that infrastructure funding is excised from the GST. I think that’s fair and proper, particularly with the Bruce Highway. We were very, very pleased with the announcement on the Bruce, but it is a national road and it is, in my mind is something that should be excise from that GST agreement. We’ll continue to negotiate in good faith. And then there’s that little matter of the flood mitigation on the Bruce Highway as well, which I might go and try and get his signature before I fly back to Brissie.
     
    JOURNALIST: PM, Donald Trump’s reciprocal tariffs are due to start from April 2. Is the Budget in such a position that it can withstand any economic turmoil that will come out of that? And where is Australia’s negotiations up to with the Administration about changes or excisions of Australia’s trade markets into the US under those reciprocal tariffs?
     
    PRIME MINISTER: Look, we continue to engage constructively with the Trump Administration. We were engaged over the weekend again in some of those discussions that have taken place. My Ministers are engaged, our people in the United States are engaged as well. We’re advancing Australia’s national interest, as you would expect.
     
    JOURNALIST: Prime Minister, David Littleproud says we need more gas in the market, he seems to be suggesting they’re going to water down the safeguard mechanism. Do you agree with the proposition we need more gas in the market and what would you be doing to resolve that? And for the Premier, is there enough being done to get the gas out of Queensland’s south?
     
    PRIME MINISTER: On the former, we’ve announced and delivered publicly released our future gas strategy. That’s a strategy that understands that gas has an important role to play, along with batteries, in providing certainty. I was in Gladstone in the great State of Queensland just last week with Rio Tinto there, at the refinery producing fantastic alumina, aluminium there. And they employ many people, and one of the things that they’ve done is to shift to renewables but they have firming capacity there as well. That’s part of the transition that’s important. The former government had this big announcement when they were there about gas, a gas led recovery. Not much happened. Not much happened. You don’t need rhetoric. What you need is actually investment. What the safeguard mechanism does, like the Capacity Investment Scheme, is to provide certainty for the investment environment for business, which is why business backed the safeguard mechanism.
     
    PREMIER CRISAFULLI: I haven’t seen what David Littleproud said, but if he’s talking about the need for more gas in the market, he’s 100 per cent correct. And have a look at across the states. Queensland, over a long period of time, we’ve done the heavy lifting, we’ve done our end of the bargain, and some of the safeguards that were put in place a little over the decade ago has ensured that communities that were once trod on have now embraced it. And overwhelmingly, it’s been great not just for our economy, but it’s also been great for regional communities to have a sense of identity. It’s been great for meeting the market that’s there. I would argue that other states probably haven’t come on the same journey that we have. And I think if you point to Queensland as an example, that it can be done, it can be done. You can protect the environment, you can treat local communities with respect, you can create some jobs, you can earn a living. It is absolutely possible.
     
    PRIME MINISTER: Last one.
     
    JOURNALIST: Australian doctor Mohammed Mustafa is in Gaza right now. He says he told SBS the situation is catastrophic. He’s asking for urgent assistance. What is your Government actively doing now that Israel has broken the ceasefire?
     
    PRIME MINISTER: Well, we have maintained our same position, which is we want to see the ceasefire be continued. We want an end to hostilities, we want to see hostages released. We want to see peace and security in the Middle East. Something that my Government is very focused on. We will remain focused on. But we’re not major players in the Middle East. That’s just the truth of the matter. And so, we remain incredibly concerned about the innocent loss of life that we’ve seen since October 7, whether that be in Israel or whether it be in Gaza. Surely people have a look at that innocent loss of life, including children and people who have done nothing wrong but be in the wrong place at the wrong time. They deserve protection. And I want to see that occur, as I’m sure most people who have a look at what is occurring, including whether it be people in Gaza or indeed people in Israel who are saying that as well. Thanks very much, thank you.

    MIL OSI News

  • MIL-Evening Report: Silicosis is ruining the lungs of construction workers. An AI-powered breath test can detect it in minutes

    Source: The Conversation (Au and NZ) – By William Alexander Donald, Professor of Chemistry, UNSW Sydney

    Irene Miller/Shutterstock

    Silicosis is an incurable but entirely preventable lung disease. It has only one cause: breathing in too much silica dust. This is a risk in several industries, including tunnelling, stone masonry and construction.

    Just last week, ABC reported that 13 workers from tunnelling projects in Sydney have been diagnosed with silicosis. It’s yet another reminder that current diagnostic methods are limited. They often detect the disease only after the lungs already have significant damage.

    Our new study, published in the Journal of Breath Research, provides the latest results on a breath test for detecting silicosis powered by artificial intelligence (AI). It’s non-invasive and measures dozens of molecules to identify silicosis in just minutes.

    The test we’ve developed achieved over 90% accuracy in differentiating silicosis patients from healthy individuals. This is better than traditional lung function tests.

    While our test is yet to be trialled in real-world clinics, our results so far suggest breath testing could become a crucial tool in workplace health screening. Early detection would prevent suffering and disease progression, and reduce healthcare costs.

    Silicosis is a growing problem – but hard to detect

    Currently, more workers in New South Wales, elsewhere in Australia and internationally are being diagnosed with silicosis at younger ages. The Australian government has responded by banning engineered stone, but that doesn’t address ongoing risks in other industries.

    Patients with silicosis often describe a feeling like they are slowly being strangled, with every breath becoming more difficult over time. In advanced stages, silicosis can be fatal unless patients can access a lung transplant.

    The only way to stop the progression of silicosis is removing affected workers from further silica exposure. This is why diagnosing patients in the early stages – before irreversible lung damage occurs – is critical.

    However, this isn’t easy to achieve. Lung function testing and chest X-rays only identify the problem once irreversible lung damage has occurred. In some cases, patients also need CT scans and invasive biopsy to confirm diagnosis. But CT scans, although much higher resolution, also rely on visible signs of silicosis.

    And these methods are costly and take time, making it harder to easily screen the thousands of workers who could be at risk.

    This is where breath testing comes in.

    Research team members Merryn Baker (left) and Dr Laura Capasso supervise a study participant providing a breath test sample for analysis.
    Richard Freeman/UNSW

    How breath tests can detect disease

    Human breath contains hundreds of volatile organic compounds – small gas molecules that come from metabolic processes in the body, as well as the environment.

    The composition of these molecules changes in response to physiological conditions like disease. However, volatile organic compounds are often present in extremely low concentrations – we need highly sensitive technology to detect them reliably.

    Our team has developed tools that can detect volatile organic compounds at concentrations as low as parts per trillion. This is equivalent to detecting a single drop of liquid diluted in multiple Olympic-sized swimming pools.

    This level of sensitivity allows us to identify very small biochemical changes in breath. AI is key to this approach. Our machine learning model analyses breath samples to tell apart healthy individuals and those with silicosis.

    This builds on our previous work using AI to analyse blood plasma for early Parkinson’s disease detection with high accuracy and interpretability, which allows us to determine the chemical features that contribute the most to model accuracy. Interpretability refers to the ability to understand and explain how the AI model arrives at its predictions, providing insights into which data inputs are most important.

    Now, we have applied similar methods to breath analysis. Thanks to the sensitivity of our test, we could potentially detect silicosis at very early stages.

    Breath samples could be collected at scale at workplaces to monitor the health of at-risk workers.
    Richard Freeman/UNSW

    How well does it work?

    In our new study, the breath test was trialled on 31 silicosis patients and 60 healthy controls. The AI-powered model successfully distinguished silicosis cases with over 90% accuracy.

    The test takes less than five minutes per sample, making it feasible for large-scale health screening. Additionally, the test doesn’t require subjects to fast or undergo any special preparation beforehand.

    An important question in breath analysis is whether external factors, such as diet or smoking, influence test results. Our study included smokers and non-smokers in both silicosis and healthy control groups, and the test maintained high accuracy.

    Our results show great promise, but there are challenges to overcome. The test relies on highly sensitive instrumentation that, while compact (less than a cubic metre), still requires technical expertise to operate.

    The AI-powered breath test involves specialised tools to perform the analysis.
    Richard Freeman/UNSW

    Currently, breath samples are collected in clinics and transported to a lab for analysis. We hope future iterations could allow for testing in workplace settings, creating routine screening programs. Further validation in larger, diverse worker populations is also necessary before full implementation.

    The next phase of research will involve refining the AI model and expanding real-world testing to thousands of silica-exposed workers who might be at risk.

    While routine medical evaluations will still be necessary for at-risk workers, the addition of breath analysis could enable more continuous monitoring than what is currently practical. It could help detect silicosis earlier, before the symptoms become irreversible, reducing long-term health risks.


    Acknowledgements: Aruvi Thiruvarudchelvan and Jeff Gordon also contributed to this research.

    William Alexander Donald receives funding from the Australian Research Council, iCare Dust Diseases Board, Coal Services NSW Health & Safety Trust, US National Institutes of Health and several industry research contracts. He is an advisor to Preview Health and Mass Affinity. He is president of the Australian & New Zealand Society for Mass Spectrometry.

    Deborah Yates is an occupational respiratory physician and a director of Thomas-Yates Pty Ltd, a medical services company, and an expert advisor to the Asbestos & Dust Diseases Research Institute, Concord, NSW. She is an independent director of the board of the Royal Australasian College of Physicians, a global advisor to the Royal College of Physicians of London, independent member of the NSW Mine Safety Advisory Council and Councillor to the Australian Society of Salaried Medical Officers (ASMOF) of NSW, the doctors’ union. She acts also as an advisor to Tuberous Sclerosis Australia and LAM Australasia. She receives no funding for any of these roles. She has recently received funding for investigator-initiated grants from Boehringer Ingelheim and iCare NSW as well as the Coal Services Trust, and has previously participated in several industry initiated research studies into asthma and chronic cough. She is a member of the iCare Medical Advisory Panel. She has in the past acted in an advisory capacity and given paid lectures for Glaxo Smith Klein, Astra Zeneca and Boehringer Ingelheim. She has no shares in mining companies or pharmaceutical companies and is not a member of any political parties.

    Merryn Baker’s PhD research was funded by UNSW through the Scientia Scheme.

    ref. Silicosis is ruining the lungs of construction workers. An AI-powered breath test can detect it in minutes – https://theconversation.com/silicosis-is-ruining-the-lungs-of-construction-workers-an-ai-powered-breath-test-can-detect-it-in-minutes-252640

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  • MIL-Evening Report: What is hyaluronic acid – and is it OK for kids and teens to use this common skincare ingredient?

    Source: The Conversation (Au and NZ) – By Zoe Porter, Lecturer, Pharmacy and Pharmaceutical Science, Monash University

    Sabinayro/Shutterstock

    Earlier this month, Kmart pulled a “hyaluronic acid cleansing balm” from its shelves, after a teen who used the skincare product was hospitalised, reporting eye pain and blurred vision. It’s unclear what ingredient caused this reaction.

    In a statement, Kmart said it was removing the product while conducting an investigation. The retailer also said:

    We want to assure our customers that our cosmetics are designed to ensure that they comply with both Australian and European requirements on ingredients.

    Hyaluronic acid – despite the name – is a gentle ingredient commonly used in skincare products.

    But what does hyaluronic acid do to your skin as a skincare ingredient? And is it safe for tweens and teens?

    What is hyaluronic acid?

    Hyaluronic acid is a glycosaminoglycan – a sugar-based molecule found naturally in the skin, eyes, joint fluid and connective tissue.

    It plays a key role in hydrating the skin and tissues, lubricating our joints and supporting tissue repair.

    Beyond cosmetics, hyaluronic acid is used in drug delivery, regenerative medicine, wound repair, and to treat conditions such as atherosclerosis (where the arterial walls harden and narrow) and osteoarthritis (a degenerative joint disease).

    It is also a key ingredient in many eye drops and contact lens care solutions.

    How is it used in skincare?

    While the word “acid” might suggest it is harsh and potentially damaging to the skin, hyaluronic acid is not used in its acidic form in skincare products. It is usually used in its salt form, sodium hyaluronate.

    In skincare, active acids such as salicylic acid usually lower the skin’s pH and exfoliate it by breaking the bonds between dead skin cells.

    Hyaluronic acid, in contrast, is used to hydrate the skin. It is a humectant, an ingredient that attracts and retains water molecules.

    Hyaluronic acid has three qualities that make it suitable for skincare: it’s soluble (can be dissolved in water), biocompatible (meaning it’s not harmful to the body), and biodegradable (naturally breaks down into non-toxic, simpler substances).

    It is usually safe and well-tolerated, meaning it has very few side effects.

    In skincare products, hyaluronic is used in different forms. Smaller hyaluronic molecules can penetrate deeper into the skin and hydrate the lower levels. In products this is often advertised as “anti-ageing”, because it stimulates the production of collagen (a structural protein in the skin), and helps to improve elasticity and reduce the appearance of fine lines.

    Larger hyaluronic acid molecules remain on the skin’s surface and have an immediate hydrating effect, preventing water evaporation from the skin.

    Hyaluronic acid helps the skin attract and retain water molecules for hydration.
    Art_Photo/Shutterstock

    Any risks?

    Hyaluronic acid is generally a safe ingredient, even for sensitive skin. But products advertised as “hyaluronic acid skincare” may contain other ingredients which can cause irritation.

    In particular, fragrances, preservatives and surfactants (ingredients that produce foam and help wash away oil and dirt) may be safe for skin but burn or otherwise irritate the eyes.

    This is because the cornea and conjuctiva (the thin membrane covering the eye) are much more sensitive than the skin.

    How are skincare ingredients regulated?

    Unlike medicines and products used for therapeutic reasons, which are regulated by the Therapeutic Goods Administration (TGA), general cosmetic products do not require pre-market safety testing or approval.

    Instead, companies need to register their business with the Australian Industrial Chemicals Introduction Scheme and verify that their ingredients are not banned or restricted in Australia.

    This creates a potential gap where defective products remain on the market, only to be recalled after adverse reactions occur.

    Are these products appropriate for children?

    Most scientific research on active ingredients – including hyaluronic acid – has been evaluated in older populations. This leaves a gap in understanding how they affect teen and preteen skin.

    Many products are designed for ageing and/or specific skin types, and are largely unnecessary for children and younger people.

    In some cases, they can potentially be harmful to their skin. For example, unless prescribed by a dermatologist, it’s advisable for young people to avoid retinoid products (containing retinol or retinal) as they can cause redness, peeling and drying.

    Similarly, products with alpha hydroxy acids can cause irritation, itching, redness and may worsen acne in young skin.

    So, what should younger people look for?

    Preteens and teens should avoid products containing active ingredients such as retinol, vitamin C, alpha- and beta- hydroxy acids, and peptides, as well as those labelled with terms such as anti-ageing, wrinkle-reducing, brightening, or firming.

    To keep skin clean and protected, teenagers can use a good cleanser, a simple moisturiser and a broad spectrum SPF 30 or 50 sunscreen.

    It’s best to opt for gentle, fragrance-free cleansers and moisturisers suitable for all skin types. Consulting with a pharmacist can provide personalised recommendations based on individual skin needs.

    Laurence Orlando is a council member with the Australian Society of Cosmetic Chemists.

    Zoe Porter 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. What is hyaluronic acid – and is it OK for kids and teens to use this common skincare ingredient? – https://theconversation.com/what-is-hyaluronic-acid-and-is-it-ok-for-kids-and-teens-to-use-this-common-skincare-ingredient-252296

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