Category: Business

  • MIL-OSI Economics: Pension wealth of Danes increased by more than kr. 300 billion in 2024

    Source: Danmarks Nationalbank

    Insurance and pension

    Statistics period: 4th Quarter 2024

    The pension wealth in Danish pension companies increased by kr. 317 billion in 2024 and now amounts to kr. 4,351 billion. Over the past two years, the pension wealth has increased by kr. 601 billion, mainly due to large capital gains on stocks and bonds. The pension wealth is now back to the level before the significant decline in 2022. Pension contributions have also contributed to the increase in wealth. In 2024 alone, net contributions were kr. 48 billion. Overall, Danes have increased their pension contributions in recent years, partly due to wage increases and higher employment.



    The pension wealth is kr. 4,351 billion in 4th quarter 2024

    Note:

    The pension wealth is defined as provisions for future pension obligations (for market rate and average interest rate products) in Danish pension companies. In addition to pension wealth in pension companies, Danish households also have individual pension schemes in financial institutions. Find chart data in the Statbank.

    MIL OSI Economics

  • MIL-OSI Global: Life after school for young South Africans: six insights into what lies ahead

    Source: The Conversation – Africa – By Gabrielle Wills, Senior researcher at Research on Socio-Economic Policy, Stellenbosch University

    Matric exams are a crucial moment in a young person’s educational journey. Fani Mahuntsi/Gallo Images via Getty Images

    At the dawn of democracy in 1994, South Africa faced a sobering reality. Fewer than a third of 25- to 34-year-olds had achieved at least a matric (12 years of schooling completed) or equivalent qualification.

    Thirty years on, the proportion of individuals in this age group that had completed their schooling had almost doubled to 57%. This figure will be further bolstered by the record-breaking results in the National Senior Certificate (matric) examinations in recent years. South Africa’s school completion rates are now high and comparable to other middle-income countries.

    But this good news is tempered by very high youth unemployment and a faltering economy. What are the prospects for young South Africans once they’ve matriculated?

    I have aimed to answer this question in my new study. By using the Quarterly Labour Force Survey – a nationally representative, household-based sample survey – and other data sources, I have developed six insights that tell us what the post-matric landscape is like today. For the purposes of the study I defined recent matriculants as 15-24-year-olds with 12 years of completed schooling.

    This study highlights how increasingly larger proportions of recent matriculants find they have limited opportunities. The rising number of youth leaving school with a matric, especially in recent years, is not being met with enough opportunities beyond school, whether in work or in post-school education and training.

    Conditions in South Africa’s labour market must improve and further expansion in quality post-school education and training is required for the country to realise the benefits of rising educational attainment and progress for national development.

    1. Less chance of employment

    The graph below illustrates a brutal truth: ten years ago finding a job was easier for matriculants than it will be for the matric class who finished school in 2024. Between 2014 and 2018 about 4 of every 10 recent matriculants who were economically active (including discouraged work seekers) were employed. By the start of 2024 this figure was closer to 3 of every 10.

    Percent of South African youth employed by qualification level.
    Dr Gabrielle Wills, CC BY-NC-ND

    The likelihood of youth with a matric having a job at the start of 2024 roughly resembled the chances of youth without a matric having a job eight to ten years ago.

    With more learners progressing to matric, especially due to more lenient progression policy during and just after the COVID-19 pandemic, changes in the composition of the matric group could be driving some of the declines in this group’s employment prospects. But there has been a deterioration in the labour market for all youth over the past decade. Employment prospects have even declined for youth with a post-school qualification.

    2. Not in employment, education or training

    Proportionally fewer recent matriculants are going on to work or further study.

    Before the COVID-19 pandemic (2014-2019), around 44%-45% of recent matriculants were classified as “not in employment, education or training” (NEET). The NEET rate among recent matriculants peaked at 55% in early 2022 and remained high at 49.8% at the start of 2024.

    Stated differently, one of every two recent matriculants was not engaged in work or studies in the first quarter of last year. That’s 1.78 million individuals. Coupled with the rising numbers of youth getting a matric, this implies that the number of recent matriculants who were not working or studying rose by half a million from the start of 2015 to the start of 2024.

    Among all 15-24-year-olds, the NEET rate rose from 32% in the first quarter of 2014 to 35% in the first quarter of 2024. Even larger increases in the NEET rate occurred among 25-34-year-olds, rising from 45% to 52% over the same period.

    This is a worry. But it doesn’t mean the matric qualification has no value.

    3. A matric still provides an advantage

    In early 2024, nearly half of matriculants aged 15-24 were classified as not in employment, education or training. Almost 8 out of 10 of their peers who had dropped out of school were NEET. In short, you’re still more likely to get a job or further your studies with a matric certificate than without one.

    4. A hard road

    The road to opportunity beyond school is harder than it was a decade ago.

    Among NEET matriculants aged 15-24 at the start of 2014, 27% searched for work for more than a year. By early 2024, this figure had risen to 32%.

    It’s even worse for 25-34-year-old NEETs who hold a matric qualification. The percentage searching for work for over a year rose from 37% at the start of 2014 to 50% in early 2024.

    The longer young people remain disconnected from employment, education or training, the greater the toll on their mental health. NEET status is associated with worse mental health, particularly among young men.

    5. Post-school education and training

    The government has made ambitious plans to expand opportunities for young people to study further. But enrolments in post-school education and training are not growing sufficiently to match the rising tide in school completion or to absorb youth who cannot find jobs. And, with projected declines in real per student spending on post-school education as South Africa tries to address escalating national debt servicing costs, this situation is unlikely to improve anytime soon.

    The country is not keeping pace with tertiary enrolment rates in other developing nations like Brazil, Indonesia or China. For instance, 2021 estimates from the World Bank identify South Africa’s tertiary enrolment rate at 25%, compared to 41% in Indonesia, 57% in Brazil and 67% in China.

    6. Location matters

    Where someone lives in South Africa influences their chances for upward mobility. These inequalities are reflected in varying youth NEET rates across provinces. For instance, a third of recent matriculants in the Western Cape were not in employment, education or training in 2023/2024. That figure more than doubles in the North West province to 67%.

    How to help

    Two things are needed: improving labour market conditions and expanding post-school education and training opportunities.

    This is unlikely without improved economic growth.

    All of this may sound hopeless. But there are things that ordinary South Africans can do, too:

    • keep encouraging young people in your orbit to complete their schooling

    • where possible, spur them on to obtain a post-school qualification

    • use your social networks to connect youth to work experience opportunities, and help with CVs, referral letters and references.

    Young people must also adopt a practical, pragmatic and entrepreneurial mindset. They need to seize every opportunity available to them, whether in the labour market or post-school education.

    Gabrielle Wills is a senior researcher with Research on Socio-Economic Policy at Stellenbosch University. This research for the COVID-Generation project was made possible by financial support from Allan and Gill Gray Philanthropies. The findings and conclusions contained within are those of the authors and do not necessarily reflect positions or policies of Allan & Gill Gray Philanthropies.

    ref. Life after school for young South Africans: six insights into what lies ahead – https://theconversation.com/life-after-school-for-young-south-africans-six-insights-into-what-lies-ahead-249031

    MIL OSI – Global Reports

  • MIL-OSI: Hotspot signs Memorandum with Clear Blue led Consortium to deploy 312 Telecom Site across Nigeria

    Source: GlobeNewswire (MIL-OSI)

    BARCELONA, Spain, March 04, 2025 (GLOBE NEWSWIRE) — Clear Blue Technologies International Inc. (TSXV: CBLU) the Smart Power Company, today announces that Hotspot (the leading telecommunications service provider in Nigeria) has signed a Memorandum of Understanding with a Clear Blue led consortium, including partners Empower New Energy and Netis, to deploy 312 solar powered telecom sites across Nigeria. The deal is subject to final contract negotiations and signatures and the rollout is targeted for the end of 2025.

    The consortium brings a group of expert skills and capabilities to quickly design, build and then operate the telecom network, solar power and tower sites:

    • Hotspot is a leader in building active telecom networks and services across Nigeria.
    • Clear Blue Technologies is the leader in providing highly reliable, low-cost Smart solar power for telecom infrastructure. With Clear Blue’s industry leading and patented Illumience Smart Power, and its ongoing service management, telecom services are delivered with maximum service levels and uptime, at the lowest Capex and Opex in the market.
    • Empower New Energy is a leading provider of clean energy project financing across Africa. With its entrepreneurial business and execution model, it is a perfect financing partner for the project.
    • Netis specializes in operating and managing telecom infrastructure and brings strong abilities to deliver the installation, operations, and maintenance services.

    “As everyone active in the telecom market in Africa is aware, it is a difficult operating environment with challenging Total Cost of Ownership (TCO) targets. And yet, it is probably the largest untapped telecom market in the world with significant growth potential”, said Morenikeji Aniye, CEO of Hotspot. “Clear Blue brings an innovative technology and service capability which, together with an innovative business model and structure, enables us to deploy and operate these sites while meeting stringent service and TCO targets.”

    “After having worked with Clear Blue on multiple projects, we are defining a speedy and unique model of partnership between the Smart Power provider and the financier. Together, we are able to deliver unparalleled value and flexibility in project structure and contracts to bring a financing model that will work for developers such as Hotspot,” said Terje Osmundsen, CEO of Empower New Energy.

    “We are thrilled to partner with Clear Blue and Empower and to support Hotspot in their aggressive growth plans,” said Hatim Zougary, Chief Business Development Officer of Netis.

    “The partners in this project bring together a very strong set of skills and an ability to execute that will ensure success for this project and hopefully many more phases to come,” said Miriam Tuerk, CEO of Clear Blue. “We are thrilled to have been chosen by Hotspot for this project which will bring connectivity to millions across Nigeria.”

    About Hotspot

    Hotspot Network Ltd, founded in 2008, obtained a co-location and Infrastructure Sharing License in 2012 and later an Internet Service Provider License from the NCC, enabling it to offer a wide range of telecommunications services, including managed services, wireless and mobile solutions, engineering support, and microwave solutions. Collaborating with a global network of partners, the company has grown rapidly to become a leading player in Africa’s digital transformation, renowned for innovative, award-winning solutions and exceptional client satisfaction. Its strategic alliances provide enterprise-level multi-sourcing opportunities, offering robust solutions and deep technical expertise. As a one-stop shop for connectivity and telecommunications, Hotspot Network Ltd.’s brand symbolizes evolving technology, guided by core values of Insight, Integrity, Innovation, Synergy, Safety, and Sustainability, reflected in its distinctive corporate identity.

    About Empower New Energy

    Established in 2017, Empower New Energy is a renewable energy financier and co-developer that finances, builds and owns clean power plants for commercial, industrial and agricultural energy users. https://www.empowernewenergy.com

    About Netis

    NETIS is a global leader in the telecommunications industry, with over 15 years of expertise in designing and developing high-performance network communication solutions. Netis specializes in the inception and construction of robust GSM, fiber optic, and energy networks, as well as the ongoing maintenance and optimization of existing infrastructures. Operating across 16 subsidiaries, NETIS actively delivers innovative telecom solutions throughout Africa.

    About Clear Blue Technologies International

    Clear Blue Technologies International, the Smart Off-Grid™ company, was founded on a vision of delivering clean, managed, “wireless power” to meet the global need for reliable, low-cost, solar and hybrid power for lighting, telecom, security, Internet of Things devices, and other mission-critical systems. Today, Clear Blue has thousands of systems under management across 37 countries, including the U.S. and Canada. (TSXV: CBLU) (FRA: 0YA) (OTCQB: CBUTF)

    Legal Disclaimer:

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    For more information, contact:

    Miriam Tuerk, Co-Founder and CEO
    +1 416 433 3952
    miriam@clearbluetechnologies.com
    www.clearbluetechnologies.com/en/investors

    The MIL Network

  • MIL-OSI: Proximus Global and Nokia partner to offer network APIs to help developers create enterprise applications #MWC25

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Proximus Global and Nokia partner to offer network APIs to help developers create enterprise applications #MWC25

    • The parties will further develop APIs to enable developers to create new applications for enterprises, including financial services and healthcare.

    4 March 2025
    Espoo, Finland – Proximus Global, the leading global digital communications company combining the strengths of BICS, Telesign and Route Mobile, today announced that it will partner with Nokia to explore opportunities that utilize their respective strengths in network API solutions to support developers as they create new applications for enterprises. The collaboration aims to expose Proximus Global and Nokia APIs on each other’s marketplaces, bridging the gap between the various industry segments and the telecom ecosystem.

    Proximus Global’s network APIs will be exposed on Nokia’s Network as Code platform with developer portal, while Nokia will benefit from Proximus Global’s presence within the telco market to make its CAMARA and 5G APIs available globally. The collaboration will enable enterprises and operators to leverage rapidly expanding API capabilities within a range of areas, including network slicing, a key enabler in 5G private networks, as well as fraud protection and other services.

    Proximus Global will also seek to utilize Nokia’s Network Exposure Platform and its Enterprise API Hub to give developers easy access to Proximus Global’s network capabilities for creating software applications that work across its 5G and 4G networks. Nokia’s Network Exposure Platform is an implementation of the GSMA Operator Platform, a standard for a common platform exposing operator capabilities to developers.

    “Proximus Global has traditionally offered a rich set of communication API through our CPaaS offering. We aim now to complement these with network API to allow enterprise and developers to easily access network capabilities. Our collaboration with Nokia will strengthen our API capabilities, and the work we are doing with developers, all with the aim of providing Proximus Global enterprise and wholesale customers with new, value-added solutions,” said Christophe Van De Weyer, Chief Product Officer at Proximus Global, and CEO of Telesign.

    Proximus Global is targeting several applications, including a real-time fraud prevention API that uses location data to detect and prevent suspicious transactions, as well as network slicing capabilities, for example in mass gathering events, such as concerts. APIs provide access to deep functionality and data within networks, allowing developers to utilize those network capabilities to build new use cases for their customers.

    “We are very pleased to expand Nokia’s relationship with Proximus Global to the area of network APIs. Our collaboration will give greater access and organization to how Proximus Global’s network is integrated into developer ecosystems and platforms. This will ensure choice, flexibility, and security in creating new applications,” said Shkumbin Hamiti, Head of Network Monetization Platform, Cloud and Network Services at Nokia.

    Since launching the Network as Code platform in September 2023, Nokia’s ecosystem of Network as Code platform partners has grown to 55 currently and includes BT, Deutsche Telekom, Orange, StarHub, Telefonica, and Telecom Argentina. Nokia’s commitment to API monetization extends beyond network-side aggregation and includes hyperscalers like Google Cloud; Communications Platform as a Service (CPaaS) platform providers such as Infobip; vertical independent software vendors like Elmo; and the world’s largest public API hub through Nokia’s acquisition of Rapid.

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

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    About Proximus Global
    Proximus Global, combining the strengths of Telesign, BICS, and Route Mobile, is transforming the future of communications and digital identity. Together, our solutions fuel innovation across the world’s largest companies and emerging brands. Our unrivaled global reach empowers businesses to create engaging experiences with built-in fraud protection across the entire customer lifecycle. Our comprehensive suite of solutions – from our super network for voice, messaging, and data, to 5G and IoT; and from verification and intelligence to CPaaS for personalized omnichannel engagement – enables businesses and communities to thrive. Reaching over 5 billion subscribers, securing more than 180 billion transactions annually, and connecting 1,000+ destinations, we honor our commitment to connect, protect and engage everyone, everywhere.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Connect with Nokia on social media
    LinkedIn X Instagram Facebook YouTube 

    The MIL Network

  • MIL-OSI: Broadcom Launches VeloSky to Deliver Network Convergence, Transform Connectivity

    Source: GlobeNewswire (MIL-OSI)

    BARCELONA, Spain, March 04, 2025 (GLOBE NEWSWIRE) — Mobile World Congress 2025—Broadcom Inc. (NASDAQ: AVGO) today introduced VeloSky, a converged networking solution that enables Communications Service Providers (CSPs) to offer integrated fiber, cellular, and satellite connectivity through a single appliance. VeloSky helps service providers drive adoption and utilization of their 5G and satellite offerings, unlocking new revenue streams and diversifying business models. The new VeloSky solution is built on the VeloRAIN (Robust AI Networking) architecture which features unprecedented visibility, prioritization, and automation for enterprise networks—allowing organizations to operate more efficiently and deliver superior user experiences. (Read the VeloRAIN press release).

    “VeloSky represents a dramatic leap forward in network convergence,” said Sanjay Uppal, vice president and general manager, VeloCloud Division, Broadcom. “By unifying diverse network underlays into a single, AI-optimized platform, service providers can deliver premium, differentiated services to enterprise customers while simplifying operations and accelerating time-to-revenue.”

    Addressing Market Challenges with a Unified Solution
    Enterprises increasingly rely on applications that require low latency, high bandwidth, and robust security. Yet service providers today face significant challenges in meeting enterprise demand for seamless connectivity, security and experience; particularly in environments that require diverse underlays such as 5G, fiber, and satellite.

    VeloSky addresses these challenges by integrating wired and wireless networks into a single solution that offers:

    • Business-Critical Traffic Prioritization: VeloSky allows customers to prioritize critical traffic to enable optimal application experience whether using one wired and one wireless connection, both wireless or wireless only. It features Dynamic Multipath Optimization (DMPO) to direct traffic based on real-time performance metrics and help applications perform efficiently.
    • Bandwidth Management: VeloSky leverages Dynamic Application-Based Slicing (DABS) to dynamically allocate bandwidth, prioritizing essential applications. By utilizing Mobile Networking Operator (MNO) industry standards for network slicing, it ensures reliable performance, even under network congestion.
    • Comprehensive Security Features: VeloSky includes Enhanced Firewall Services (EFS) for centralized, scalable protection against threats with tools like intrusion detection and prevention, URL filtering, L4-7 application-aware stateful inspection, malicious IP filtering, and traffic segmentation. This helps eliminate the need for an external legacy firewall while also providing comprehensive security.
    • Simplified Operations: VeloSky provides a unified platform that integrates visibility and control for networking and security, reducing complexity, time and operational costs.

    By unifying diverse network types and simplifying management, VeloSky delivers enhanced value and operational efficiency for service providers.

    VeloSky Simplifies Management of Multiple Networks
    VeloSky delivers a fully unified, converged platform that seamlessly integrates wired and wireless networks within a single management plane. Its architecture combines advanced networking and security services, offering customers the tools they need to optimize application performance while safeguarding their networks. VeloSky is designed for and tightly integrated with service provider networks. The platform supports wired, 5G fixed wireless access and satellite connections. The convergence of wired and wireless networks eliminates the need for separate hardware devices for each type of connectivity. Additionally, VeloSky provides zero-touch provisioning, monitoring, visibility and troubleshooting using a unified console for fiber, fixed wireless access and satellite. This simplifies network management, improves efficiency, and reduces expenses while ensuring seamless connectivity for all users.

    VeloSky offers service providers the tools they need to streamline operations and enhance connectivity. It lets providers address enterprise demands for secure, scalable, and reliable solutions and empowers them to remain competitive and innovative in today’s evolving digital landscape. VeloSky is available today.

    Supporting Quotes
    “MetTel recognizes the growing demand for network convergence driven by enterprises’ need for seamless, high-performance connectivity across diverse environments. As businesses increasingly rely on AI-driven applications and distributed workloads, the need for integrated fiber, 5G, and satellite connectivity has never been more crucial. VeloSky will allow us to deliver an AI-optimized, unified platform that enables greater reliability, enhanced security, and improved operational efficiency for our enterprise customers.” – Eddie Fox, CTO, MetTel

    “Vodafone Business recognizes the transformative potential of fixed wireless access in enabling enterprises’ adoption of advanced applications, including AI. Broadcom’s VeloSky solution is aligned with our plans for converged connectivity; it has potential to allow us to deliver secure, high-performance, and resilient ‘network as a service’ solutions that meet the dynamic demands of businesses today.” – Fanan Henriques, Director, Products and International, Vodafone Business

    “As operators invest in technologies like network slicing and private networks to drive B2B growth, they must not overlook their core enterprise customers, for whom these solutions may not be viable. Enterprises prioritize reliability, and seamless converged connectivity not only strengthens this but also creates a more compelling and stickier proposition. By enabling dynamic networking capabilities such as prioritized traffic steering—without significant cost burdens—operators can enhance enterprise core connectivity while driving greater customer loyalty and value.” – Tilly Gilbert, Consulting Director and Edge Practice Lead, STL Partners

    About Broadcom
    Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom’s category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com.

    Media Contact:

    Eloy Ontiveros
    Broadcom Global Communications
    1-650-427-6145
    eloy.ontiveros@broadcom.com

    The MIL Network

  • MIL-OSI: IDEX Biometrics receives purchase order for biometric payment cards to Japan

    Source: GlobeNewswire (MIL-OSI)

    Oslo, Norway – IDEX Biometrics has received a production order from the manufacturing partner Beautiful Card Corporation (BCC). The order has a value of approx. USD 50,000 and is the first of a larger biometric payment card program issued across both Mastercard and Visa for the Japanese market.

    “BCC is a clear front-runner, with a commitment to bring biometric smart cards to customers and partners world-wide, for payment and access cards. As IDEX and BCC already have material ready for production, we have been able to respond to our partners’ imminent implementation program”, comments Catharina Eklof, Chief Executive Officer at IDEX Biometrics.

    For further information contact:
    Marianne Bøe, Head of Investor Relations, + 47 91800186
    Kristian Flaten, CFO, +47 95092322
    E-mail:ir@idexbiometrics.com

    About IDEX Biometrics
    IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.
    For more information, please visit www.idexbiometrics.com

    Trademark Statement
    IDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.

    About this notice:
    This notice discloses inside information pursuant to the EU Market Abuse Regulation and was issued by Marianne Bøe, Head of Investor Relations, on 04 March 2025 at 08:12 CET on behalf of IDEX Biometrics ASA. The notice is published in accordance with section 5-12 the Norwegian Securities Trading Act.

    The MIL Network

  • MIL-OSI Video: EC press statement by European Commission President Ursula von der LEYEN on the defence package

    Source: European Commission (video statements)

    Press statement by Ursula von der LEYEN, President of the European Commission

    Follow us on:
    -X: https://twitter.com/EU_Commission
    -Instagram: https://www.instagram.com/europeancommission/
    -Facebook: https://www.facebook.com/EuropeanCommission
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    -Medium: https://medium.com/@EuropeanCommission

    Visit our website: http://ec.europa.eu

    https://www.youtube.com/watch?v=97iIX8ljWJ0

    MIL OSI Video

  • MIL-OSI Banking: Expo 2025 Panasonic Group Pavilion “The Land of NOMO” lighting to utilize hydrogen derived from zero-carbon electricity

    Source: Panasonic

    Headline: Expo 2025 Panasonic Group Pavilion “The Land of NOMO” lighting to utilize hydrogen derived from zero-carbon electricity

    Osaka, Japan, February 28, 2025 – Panasonic Holdings Corporation (Panasonic HD) will use electricity generated from hydrogen derived from zero-carbon electricity to create a nighttime light-up display at the Panasonic Group Pavilion “The Land of NOMO” during the Expo 2025 Osaka, Kansai, Japan (Expo 2025). On March 1, a light-up ceremony will be held, featuring a magical display of lights and mist on the pavilion’s organdy-adorned facade.
    The Panasonic Group, which is committed to the long-term environmental vision “Panasonic GREEN IMPACT,” will use recycled materials for construction and showcase technologies that contribute to solving global environmental issues at the Expo pavilion. Additionally, hydrogen derived from zero-carbon electricity will be used for the light-up display. Beyond the experience at the “The Land of NOMO” Pavilion, the Panasonic Group aims to provide opportunities to “Unlock” the imaginative power of each child, leveraging the outcomes of co-creation activities with children that have been ongoing since before the Expo’s opening. These efforts will also be incorporated into the light-up display.
    Every day during the exhibition, from sunset until the pavilion closes at 10 p.m., there will be a light-up display featuring more than 10 different patterns that combine various colors and movements, designed by Yuko Nagayama, the architect of the pavilion. Additionally, once a day, there will be a special light-up performance created by children.

    ■The electricity for the light-up display will be generated using hydrogen derived from zero-carbon electricity produced at the NTT Pavilion

    <The pure hydrogen fuel cell installed at the Pavilion>

    Hydrogen derived from zero-carbon electricity generated by solar power during the day at the NTT Pavilion is supplied through underground pipelines, and power is generated by a 5 kW pure hydrogen fuel cell installed in the Panasonic Group Pavilion. The electricity required to light up the pavilion at night (2.8 kW) uses this zero-CO2 emission electricity.

    ■Light-up display with light and sound co-created with students and children

    <Workshop highlights>

    To provide an opportunities to “unlock” the imaginative power of children, Panasonic HD has been conducting co-creation activities with children and students, reflecting these efforts in the creation of the pavilion through the “NOMO no Co-Project” since before the Expo. As part of this initiative, a light and sound display created by students from National Institute of Technology, Yonago College (Yonago College) and elementary school children will be featured.
    Students from Yonago College have developed a system using Panasonic Group’s developing IoT lighting “ILLUMME” that allows even beginner elementary school students to easily create original pavilion lighting displays by programming on a Scratch-based platform.
    Elementary school children who participated in the light programming workshop “NOMO to Hikari to Monogatari (NOMO and Light and Story)” used the aforementioned system to program light and sound displays to match the stories they created, which were themed around the pavilion.

    The light-up display will be managed through Panasonic Group’s cloud-based lighting technology “YOI-en,” creating a magical atmosphere with 75 full-color LED floodlights and audio equipment. Additionally, The “Silky Fine Mist*”, generated by seven sprayer units used to help mitigate daytime heat, will also be used as part of the nighttime display.

    * Environmental sensors send local temperature, humidity, and wind/rain data to Obayashi Corporation’s smart building platform “WELCS place.” Through an API-integrated cloud system, the optimal mist spray volume is automatically controlled. Obayashi Corporation Smart Building Platform WELCS place®https://www.obayashi.co.jp/solution_technology/value_up/digitization.html
    The Panasonic Group will continue to connect with children even after the Expo concludes through activities such as an online co-creation platform. This initiative, starting with the “Unlock” experience at the “The Land of NOMO” Pavilion will accelerate its efforts to make children’s future brighter and more promising.

    MIL OSI Global Banks

  • MIL-OSI Security: Camden County Man Who Directed the Arson of a Bucks County Warehouse Sentenced to Six Years in Prison

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    PHILADELPHIA – Acting United States Attorney Nelson S.T. Thayer, Jr., announced that Ramiz Duka, 62, of Cherry Hill, New Jersey, was sentenced today by United States District Court Judge Kelley Brisbon Hodge to six years in prison, three years of supervised release, and $6,158,686.84 in restitution for conspiring to commit the arson of a Bucks County warehouse.

    On October 30, 2024, Duka was convicted at trial of conspiracy to commit malicious damage by means of fire of a building used in interstate commerce.

    The facts at trial established that Duka recruited two men into a conspiracy to set fire to a warehouse located at 1388 Bridgewater Road in Bensalem, Pa., paying them $15,000 to do so. Over the course of several weeks, the three co-conspirators met and planned the arson.

    On December 10, 2022, one of the men recruited to the conspiracy by Duka set fire to the building. During fire suppression operations, one firefighter was seriously injured when a ladder collapsed. Damages from the fire totaled over $6 million.

    “Ramiz Duka orchestrated this arson plot and set it in motion with no regard for the unpredictable nature of fire, the potential for the flames to spread, or the risks facing first responders reporting to fight the blaze,” said Acting U.S. Attorney Thayer. “Arson endangers lives and communities, and, as this case shows, our office will continue to work with our partners to hold accountable those reckless enough to commit such a serious crime.”

    “Arson is a dangerous crime with dire consequences, as in this case, seriously injuring a firefighter who was serving to protect his community” said Eric DeGree, Special Agent in Charge of the ATF’s Philadelphia Field Division. “I thank the Bensalem Township Police and Fire-Rescue, U.S. Attorney’s Office and other partners who are helping the ATF-led Philadelphia Arson and Explosives Task Force seek justice and keep our communities safe from dangerous arsonists like Ramiz Duka.”

    The case was investigated by Bureau of Alcohol, Tobacco, Firearms and Explosives and the Bensalem Police Department, and is being prosecuted by Assistant United States Attorney Amanda R. Reinitz. Special thanks to the Bensalem Township Fire Rescue and the volunteer firefighter companies in and around Bensalem that responded to the fire.

    MIL Security OSI

  • MIL-OSI: LHV Group 2024 Audited Annual Report and Dividend Proposal

    Source: GlobeNewswire (MIL-OSI)

    The Supervisory Board of AS LHV Group (hereinafter: LHV Group) approved the 2024 audited annual report and will submit it to the Annual General Meeting for approval. Compared to the unaudited interim report published on 11 February, there are no differences in the audited financial results. The 2024 consolidated annual report of LHV Group is attached to this notice and will be made available on the LHV Group investor page at https://investor.lhv.ee/aruanded/#aastaaruanded.

    LHV Group generated consolidated revenue of 338.3 million euros (+11%) in 2024. Of the revenue, net interest income accounted for 273.3 million euros (+8%), and net fee and commission income 60.3 million euros (+24%). The expenses of the consolidation group in 2024 amounted to 146.9 million euros (+14%). The consolidated net profit of LHV Group in 2024 amounted to 150.3 million euros, i.e., 7% more than in 2023. LHV Group’s annual cost/income ratio was a good 43.4% and return on equity 24.5%. Ordinary earnings per share in 2024 amounted to 0.46 euros and diluted earnings per share to 0.45 euros.

    As at the end of 2024, the consolidated assets of LHV Group stood at 8.74 billion euros, growing by 23%, i.e., 1.64 billion euros over the year. The Group’s consolidated deposits grew by 21% over the year to 6.91 billion euros. The Group’s consolidated loan portfolio increased to 4.55 billion euros, i.e., 28% in 2024. The aggregate volume of funds managed by LHV increased by 3% over the year, to 1.56 billion euros. The number of payments processed in relation to clients who are financial intermediaries reached 74.8 million payments (+51%) in 2024.

    The number of LHV Pank clients increased to 455 thousand in 2024. Over the year, the number of bank clients increased by 38,000, i.e., more than 9%. As at the end of the year, the number of active II pillar pension clients at LHV stood at 114,000 (-8%), and 170,000 clients had taken out insurance with LHV Kindlustus (+6%).

    Among the subsidiaries, in 2024, AS LHV Pank earned a net profit of 140.5 million euros (141.4 million euros in 2023), UK Bank Limited 5.8 million euros (5.3 million euros in 2023), AS LHV Varahaldus 1.6 million euros (1.7 million euros in 2023), and AS LHV Kindlustus 1.2 million euros (0.3 million euros in 2023). LHV Group as a separate unit generated 81.7 million euros in profit in 2024.

    Dividend proposal

    The Management Board of LHV Group proposes that the Annual General Meeting distribute the profit for 2024 as follows:

    • to pay dividends of 0.09 euros per share, for a total amount of 29,177 thousand euros; the income tax payable on dividends would be 8,229 thousand euros;
    • to transfer the profit for the reporting period, amounting to 123,228 thousand euros, belonging to the parent company’s shareholders, to retained earnings.

    The list of shareholders entitled to dividends will be fixed as at the close of business of the Nasdaq CSD settlement system on 9 April 2025. Consequently, the day of change of the rights attaching to the shares (ex-date) is set to 8 April 2025. From this day onwards, a person acquiring the shares will not have the right to receive dividends for the financial year 2024. Dividends will be paid to shareholders on 10 April 2025.

    LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,200 people. As at the end of January, LHV’s banking services are being used by 460,000 clients, the pension funds managed by LHV have 112,000 active clients, and LHV Kindlustus protects a total of 172,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

    Marthi Lepik
    Communication Specialist
    Phone: +372 5666 2944
    Email: marthi.lepik@lhv.ee 

    Attachments

    The MIL Network

  • MIL-OSI: BAWAG Group publishes FY 2024 results: Net profit € 760 million and RoTCE 26%; dividend per share of €5.50 for 2024

    Source: GlobeNewswire (MIL-OSI)

    • Q4 ’24 net profit of €240 million, EPS of € 3.03 and RoTCE of 31.6%
    • Pre-provision profit of €297 million (+12% vPQ) and CIR at 35.7%
    • FY ‘24 Net profit of €760 million (+11% vs. prior year), EPS of €9.60 and RoTCE of 26.0%
    • FY ‘24 Risk-cost ratio of 19 basis points … NPL ratio at 0.8%
    • Knab acquisition closed on November 1, 2024
    • Dividend per share of €5.50 to be proposed to the AGM
    • CET1 ratio of 15.2% post deduction of earmarked dividend of €432 million for FY 2024
    • Target for 2025: Net profit > €800 million, RoTCE >20%

    VIENNA, Austria – Today, BAWAG Group released its results for the full year 2024, reporting a net profit of € 760 million, earnings per share of €9.60, and a RoTCE of 26%. The operating performance of our business was strong with pre-provision profits of €1,083 million and a cost-income ratio of 33.5%. For the fourth quarter 2024, BAWAG Group reported a net profit of €240 million, earnings per share of €3.03, and RoTCE of 31.6%.

    Delivering strong results in FY 2024

    in € million Q4 ’24 Change vs prior
    year (in %)
    Change vs prior
    quarter (in %)
    FY ’24 Change vs prior year (in %)
    Core revenues 449.6 14 16 1,621.7 5
    Net interest income 368.4 14 19 1,311.8 5
    Net commission income 81.2 13 5 309.9 9
    Operating income 461.7 20 18 1,627.8 7
    Operating expenses (164.8) 34 30 (545.1) 12
    Pre-provision profit 296.9 13 12 1,082.7 4
    Regulatory charges (4.3) 43 (15.3) (61)
    Risk costs 1.4 (81.8) (12)
    Profit before tax 296.1 25 25 989.9 9
    Net profit 240.0 36 35 760.0 11
               
    RoTCE 31.6% 6.0pts 7.6pts 26.0% 1.0pts
    CIR 35.7% 3.7pts 3.4pts 33.5% 1.7pts
    Earnings per share (€) 3.03 41% 35% 9.60 16%
    Liquidity Coverage Ratio (LCR) 249% 34pts (11pts) 249% 34pts

    Following the acquisition of Knab on 1 November 2024, the profit & loss includes two months’ contribution.

    Core revenues increased by 5% to €1,621.7 million in 2024 versus the prior year. Net interest income was at € 1,311.8 million, up by 5% versus 2023. Net fee and commission income increased by 9% to € 309.9 million.

    Operating expenses increased by 12% to € 545.1 million in 2024 versus the prior year as result of the consolidation of Knab in the fourth quarter 2024. The cost-income ratio increased by 1.7 points to 33.5%. This resulted in a pre-provision profit of € 1,082.7 million for the year 2024, up by 4% versus prior year.

    Risk costs were € 81.8 million in 2024, down 12% compared to the previous year. The management overlay was utilized during the year to increase ECL reserves due to model updates and increase NPL coverage based on conservative Commercial Real Estate values, while the remainder was released. The NPL ratio was 0.8% at the end of 2024.

    At the end of 2024, the CET1 ratio was at 15.2%, an increase of 50 basis points compared to the prior year. The CET1 ratio considers the deduction of € 432 million dividend accrual for 2024 as well as the self-funded acquisition of Knab.

    Our goal is, and will always be, maintaining a strong balance sheet, solid capitalization levels, low balance sheet leverage and conservative underwriting, a cornerstone of how we run the Bank.

    Targets

    Our outlook and our targets for 2025 are as follows:
    Net profit > €800 million, RoTCE >20%

    Earnings presentation
    BAWAG Group will host the earnings call with our CEO Anas Abuzaakouk, CFO Enver Sirucic and CRO David O’Leary at 10 a.m. CET on 4 March 2025. The webcast details are available on our website under Financial Results | BAWAG Group.

    Investor Day
    We will hold an Investor Day on March 4, 2025 at 3 p.m. CET. The webcast is available under
    https://www.bawaggroup.com/en/investor-day-2025. The documents will be released around noon.

    About BAWAG Group
    BAWAG Group AG is a publicly listed holding company headquartered in Vienna, Austria, serving our >4 million retail, small business, corporate, real estate and public sector customers across Austria, Germany, Switzerland, Netherlands, Western Europe and the United States. The Group operates under various brands and across multiple channels offering comprehensive savings, payment, lending, leasing, investment, building society, factoring and insurance products and services. Our goal is to deliver simple, transparent, and affordable financial products and services that our customers need.

    BAWAG Group’s Investor Relations website https://www.bawaggroup.com/ir contains further information, including financial and other information for investors.

    Forward looking statement
    This release contains “forward-looking statements” regarding the financial condition, results of operations, business plans and future performance of BAWAG Group. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should,” “would,” “could” and other similar expressions are intended to identify these forward-looking statements. These forward-looking statements reflect management’s expectations as of the date hereof and are subject to risks and uncertainties that may cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, economic conditions, the regulatory environment, loan concentrations, vendors, employees, technology, competition, and interest rates. Readers are cautioned not to place undue reliance on the forward-looking statements as actual results may differ materially from the results predicted. Neither BAWAG Group nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this report or its content or otherwise arising in connection with this document. This report does not constitute an offer or invitation to purchase or subscribe for any securities and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This statement is included for the express purpose of invoking “safe harbor provisions”.

    Financial Community:
    Jutta Wimmer (Head of Investor Relations)
    Tel: +43 (0) 5 99 05-22474

    IR Hotline: +43 (0) 5 99 05-34444
    E-mail: investor.relations@bawaggroup.com

    Media:
    Manfred Rapolter (Head of Corporate Communications & Social Engagement)
    Tel: +43 (0) 5 99 05-31210
    E-mail: communications@bawaggroup.com

    This text can also be downloaded from our website: https://www.bawaggroup.com

    The MIL Network

  • MIL-OSI: Tune Talk and Mavenir Partner to Revolutionize Malaysia’s Telco Landscape with Cloud-Native Digital OSS/BSS Platform

    Source: GlobeNewswire (MIL-OSI)

    BARCELONA, Spain, March 04, 2025 (GLOBE NEWSWIRE) — Tune Talk, Malaysia’s fastest-growing digital telco, has signed a Memorandum of Agreement (MOA) with Mavenir, the cloud-native network infrastructure provider, to provide a cutting-edge Cloud-Native Digital Operations Support System (OSS) and Business Support System (BSS) platform. The announcement was made at Mobile World Congress (MWC) 2025 in Barcelona, reinforcing Tune Talk’s commitment to technological innovation and enhanced customer experience.

    The cloud-native OSS/BSS platform is designed to enable Tune Talk to implement self-healing and automatic scaling capabilities, significantly improving operational efficiency. With zero-touch operations, the platform is designed to streamline network management, reduce downtime, and enhance service reliability. Additionally, AI-driven tools will revolutionize customer engagement, offering hyper-personalized services tailored to individual subscriber needs.

    “This partnership with Mavenir marks a significant step in our digital transformation journey. By leveraging cloud-native and AI-powered solutions, we are not only optimizing our operations but also enhancing our ability to deliver superior and highly personalized services to our customers,” said Gurtaj Singh Padda, Executive Director and CEO of Tune Talk. “This move aligns with our vision of making digital connectivity more seamless and intelligent for all Malaysians.”

    Echoing this sentiment, Jay Pandey, Chief Technology Officer of Tune Talk, highlighted the operational efficiencies that this collaboration will bring: “With Mavenir’s cloud-native solutions, we expect to increase our operational efficiency by 60 to 70%. Network performance will see fewer interruptions, ensuring low latency and a more seamless experience for our subscribers. This partnership represents a transformative step in our technology processes, making our network smarter and more resilient than ever before.”

    Pardeep Kohli, President and CEO at Mavenir, also expressed enthusiasm for the strategic partnership: “We fully support Tune Talk’s efforts in becoming a cloud mobile network operator. Our cloud-native OSS/BSS platform is designed to enable Tune Talk to operate with greater agility, efficiency, and automation, setting a new standard for digital-first telco services in Malaysia and beyond. We look forward to driving this transformation together.”

    The implementation of this next-generation platform is expected to set a new benchmark in Malaysia’s telecommunications industry. By automating network operations and leveraging AI for predictive analytics, Tune Talk aims to improve network performance and customer satisfaction while reducing operational costs. This initiative also strengthens Malaysia’s position in the global digital economy, fostering innovation in the telco sector and setting a precedent for cloud-native adoption in the region.

    As digital transformation accelerates, the collaboration between Tune Talk and Mavenir is poised to redefine telco service delivery, bringing cutting-edge advancements to Malaysian consumers and the broader industry.

    About Tune Talk

    Tune Talk is the fastest-growing fully cloud-enabled Mobile Network Operator in Asia. Since our launch in 2009, we have remained committed to offering affordable rates and exciting incentives. As a digital lifestyle telecommunications company, our services include unlimited calls, SMS, and high-speed internet packages, tailored to meet the demands for simple, value-driven products with easy accessibility and wide distribution. Our focus on innovation and digital disruption drives us to continuously provide cutting-edge telecommunication solutions, meeting the evolving needs of our customers and keeping us at the forefront of the industry.

    For more information, please visit www.tunetalk.com.

    About Mavenir:

    Mavenir is building the future of networks today with cloud-native, AI-enabled solutions which are green by design, empowering operators to realize the benefits of 5G and achieve intelligent, automated, programmable networks. As the pioneer of Open RAN and a proven industry disruptor, Mavenir’s award-winning solutions are delivering automation and monetization across mobile networks globally, accelerating software network transformation for 300+ Communications Service Providers in over 120 countries, which serve more than 50% of the world’s subscribers. For more information, please visit www.mavenir.com

    PR Contacts: Mavenir: Emmanuela Spiteri | PR@mavenir.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3ec6ad0e-db50-409f-be25-495db047d71c

    The MIL Network

  • MIL-OSI: NOTICE ON CALLING ANNUAL GENERAL MEETING OF SHAREHOLDERS

    Source: GlobeNewswire (MIL-OSI)

    The Management Board of AS LHV Group (hereinafter LHV Group) hereby calls the general meeting of the shareholders (hereinafter the General Meeting), to be held on 26 March 2025 starting at 13:00 (Estonian time) at Hilton Tallinn Park Hotel (Fr. R Kreutzwaldi 23, Tallinn).

    The list of shareholders entitled to participate in the General Meeting will be determined as of 7 (seven) days before the General Meeting, i.e., as at 19 March 2025 EOD of Nasdaq CSD settlement system.

    Pursuant to the resolution adopted by LHV Group’s Supervisory Board on 19 February 2025, the agenda of the General Meeting will be following, and the proposals of the Management Board and the Supervisory Board in regard to the agenda items are specified by each agenda item as follows, whereas the Supervisory Board has proposed to vote in favour of all draft resolutions specified under the agenda items.

    1. Annual Report 2024

    Approve the Annual Report of LHV Group for the financial year 2024 as submitted to the General Meeting.

    2. Profit Distribution for Financial Year 2024

    The consolidated net profit attributable to LHV Group as the parent company of the consolidation group in the financial year 2024 amounts to EUR 152,405 thousand. Transfer EUR 0 to the legal reserve. Approve the profit allocation proposal made by the Management Board and pay dividends in the net amount of 9 euro cents per share. The list of shareholders entitled to receive dividends will be established as at on 9 April 2025 EOD of Nasdaq CSD settlement system. Consequently, the day of change of the rights related to the shares (ex-dividend date) is set to 8 April 2025. From this day onwards, the person acquiring the shares will not have the right to receive dividends for the financial year 2024. Dividends shall be disbursed to the shareholders on 10 April 2025.

    3. Financial Results of First Two Months of 2025

    An overview of the economic results of LHV Group for the first two months of 2025.

    4. Five-Year Financial Forecast

    An overview of the five-year financial forecast of LHV Group.

    5. Amendments to 2020–2024 Share Option Program

    Approve the amendments of LHV Group’s 2020–2024 share option program as presented to the General Meeting and authorize LHV Group’s Supervisory Board to implement the 2020–2024 share option program in accordance with the program’s terms.

    6. 2025–2029 Share Option Program

    Approve LHV Group’s 2025–2029 share option program as presented to the General Meeting and authorize LHV Group’s Supervisory Board to implement the 2025–2029 share option program in accordance with the program’s terms.

    7. Conditions of Performance Pay

    As of 1 January 2026, to prospectively raise for the next five (5) years, i.e., for the period of the 2025–2029 share option program, the percentage of performance pay payable to the management members and equivalent staff of LHV Group and its group companies up to two hundred percent (200%) of their basic salary in accordance with the rationale presented to the General Meeting.

    8. Acquisition of Own Shares

    Approve the acquisition of LHV Group’s own shares under the following conditions:

    • The purpose of acquiring own shares is to create value for shareholders by using the acquired shares for the execution of applicable General Meeting’s approved share option programs.
    • The acquisition shall be executed within a period of up to five (5) years from the adoption of this resolution. The acquisitions may take place in one or multiple transactions within thirteen (13) months from each LHV Group’s Supervisory Board decision to execute the acquisition of own shares.
    • LHV Group is entitled to acquire a maximum of its own shares necessary for fulfilling the commitments arising from the General Meeting’s approved share option programs. The acquisition may take place in portions corresponding to the required volume for a single year, multiple years, or the full duration of the applicable share option programs. This resolution shall also apply if the shareholders approve amendments to the share option programs that affect the acquisition volume. In any case, the total nominal value of the shares owned by LHV Group does not exceed 1/10 of the share capital.
    • The price per share to be paid for own shares shall be no less than EUR 0.00 and must not exceed the closing price of the Nasdaq Tallinn Stock Exchange on the previous trading day, as determined before the execution date of each respective acquisition (or the date of announcement of the execution of the acquisition). The purchase price per share shall not exceed the average market price of the last 30 trading days by more than fifty percent (50%). The acquisition of shares shall be executed under market conditions in accordance with the rules of Nasdaq Tallinn Stock Exchange.
    • The acquisition of own shares must not cause the net assets to become less than the total of share capital and reserves which pursuant to law or the Articles of Association shall not be paid out to shareholders.

    Authorize LHV Group’s Supervisory Board, in accordance with this resolution, applicable legislation and the General Meeting’s approved share option programs, to decide and execute own shares acquisitions, determine the acquisition price, procedure, and other conditions, and to carry out all necessary actions related to the own shares acquisition. The Supervisory Board may delegate technical and procedural tasks related to the execution of the acquisition to the Management Board. The execution of the own shares acquisition shall be conditional upon the European Central Bank’s consent.

    9. Amendments to Articles of Association

    Approve the new redaction of the Articles of Association of LHV Group, thereby amending clauses 4.1.5 and 4.1.6. with the following wording:
    “4.1.5.    The Supervisory Board has set up the Audit Committee, the Risk and Capital Committee, the Nomination Committee and the Remuneration Committee and established the relevant terms of reference.”
    “4.1.6. The Supervisory Board shall be authorized, for a period of 3 (three) years from the entry into force of this version of the Articles of Association, to increase the share capital through contributions 1 (once) per year by up to 2% (two percent) of the share capital as valid at the time of the respective resolution. If the full 2% (two percent) limit has not been used in previous years, the unused portion may be carried forward within the authorization period. However, if the limit has been fully utilized, the increase in any following year shall not exceed 2% (two percent).”

    The registration of the participants of the General Meeting will take place on the day of the meeting, 26 March 2025, between 12:00 and 12:45. The organizers of the General Meeting have the right not to consider later requests for registration and participation in the General Meeting. Registration of participation ensures the exercise of shareholder’s rights during the General Meeting, including electronic voting for draft resolutions on the agenda of the General Meeting.

    Shareholders who cannot or do not wish to take part in the General Meeting can vote on the draft resolutions on the agenda of the General Meeting before the General Meeting (hereinafter pre-voting) in the period from the determination of the circle of shareholders entitled to participate in the General Meeting (i.e., as of the end of the business day of the Nasdaq CSD settlement system on 19 March 2025) until 24 March 2025 at 17:00, whereas the simplified pre-voting via the website vote.lhv.ee/ (hereinafter meeting website) will be opened at 10:00 on 21 March 2025. A shareholder who has pre-voted is considered to be participating in the General Meeting, and the votes represented by the shares that shareholder holds are accounted as part of the General Meeting quorum.

    Pre-voting under simplified procedure and registering participation and electronic voting during the General Meeting takes place through the meeting website. Shareholders who cannot or do not wish to participate in the pre-voting or register their presence electronically, will be allowed to register and vote at the meeting venue, as long as they arrive at the venue with sufficient time for registration. It is possible to pre-vote on the draft resolutions on the agenda of the General Meeting using the pre-voting ballots, which are available on LHV Group’s website investor.lhv.ee/en/ (hereinafter investor website).

    Shareholders whose rights are exercised by a representative at the General Meeting, must ensure that before the General Meeting takes place, the document(s) proving their right of representation are presented in writing to LHV Group’s e-mail address group@lhv.ee or on working days between 9 to 17 to LHV Group’s address Tartu mnt 2, Tallinn 10145, 1st floor no later than 17:00 on 25 March 2025. All documents submitted in a foreign language must be in English or translated into English by a sworn translator or an official equivalent to a sworn translator, certified and legalized or apostilled, unless otherwise provided by legal acts in force. LHV Group must also be informed of the withdrawal of the given authorization by the same deadline. LHV Group asks to take into account that shareholder’s rights can be exercised via the meeting website by a person who has the right of sole representation of the shareholder. Holders of nominee accounts who wish to vote on a draft resolution in a proportion other than the total number of votes belonging to the respective shareholder, i.e., to distribute the votes belonging to the respective shareholder on the draft resolution between several predetermined options, will have the opportunity to do so on the meeting website. Such proportional voting is also possible with the pre-voting ballots published on the investor website.

    In the counting the votes given by pre-voting and electronic voting during the General Meeting, only votes that followed the procedure for pre-voting and electronic participation will be counted. The procedure can be found on the investor website.

    Shareholders can remotely watch the General Meeting’s live stream and participate in discussions through the website investor.lhv.ee/uldkoosolek/. Access to the live stream does not require authentication or registration. Instructions for watching the broadcast and submitting questions can be found on the investor website. 

    Up to and including the day of the General Meeting, shareholders have the option of examining all documents submitted to General Meeting (including the notice on calling the General Meeting, draft resolutions, LHV Group’s annual report for 2024, including the independent auditor’s report, proposal for the profit distribution, the remuneration report, the Supervisory Board’s report on its activities and assessment of the 2024 annual report and proposals for approving of the terms of performance pay, LHV Group’s share option programs and LHV Group’s Articles of Association) on the investor webpage. The procedure for pre-voting and electronic participation, instructions for watching the video broadcast, pre-voting ballots, and authorizations for appointing a representative at the General Meeting can also be found on the same page.

    Before the General Meeting, shareholders can ask questions about the agenda items of the General Meeting by email group@lhv.ee, provided that the questions are received by LHV Group at least 1 (one) working day before the General Meeting, no later than 13:00 on 25 March 2025. 

    At the General Meeting, shareholders have the right to receive information from the Management Board, to request that additional items be included on the agenda, and to submit draft resolutions in regard to each agenda item. In regard to the procedure and term for exercising these rights, LHV Group proceeds from the provisions of section 287, subsections 293 (2) and 2931 (4) of the Commercial Code and requests that the corresponding applications be sent by e-mail to group@lhv.ee or to LHV Group’s location at Tartu mnt 2, Tallinn 10145.

    Within 7 (seven) days of the General Meeting, the minutes of the General Meeting will be made available to shareholders on the investor website.

    Sincerely,
    Madis Toomsalu
    Chairman of the Management Board of AS LHV Group

    Marthi Lepik
    Communication Specialist
    Phone: +372 5666 2944
    Email: marthi.lepik@lhv.ee 

    Attachments

    The MIL Network

  • MIL-OSI Australia: Bank Indonesia and Reserve Bank of Australia Renew the Bilateral Currency Swap Arrangement

    Source: Reserve Bank of Australia

    Bank Indonesia (BI) and Reserve Bank of Australia (RBA) have renewed and strengthened the Bilateral Currency Swap Arrangement (BCSA) on 4 March 2025, for a period of five years. This agreement was signed by Governor Perry Warjiyo and Governor Michele Bullock. This follows the initial agreement which was signed in December 2015 and has been renewed thereafter.

    The BCSA enables the exchange of local currencies between the two central banks with a value of up to AUD10 billion (equivalent to USD6,2 billion) and the corresponding IDR.

    The renewal reflects the long-standing financial cooperation between BI and RBA and indicates the strong commitment of both central banks to further promote bilateral trade and investment for the economic development of Australia and Indonesia, contribute to financial stability for both countries and for other mutually agreed purposes.

    MIL OSI News

  • MIL-OSI Economics: Bank Indonesia and Reserve Bank of Australia Renew the Bilateral Currency Swap Arrangement

    Source: Reserve Bank of Australia

    Bank Indonesia (BI) and Reserve Bank of Australia (RBA) have renewed and strengthened the Bilateral Currency Swap Arrangement (BCSA) on 4 March 2025, for a period of five years. This agreement was signed by Governor Perry Warjiyo and Governor Michele Bullock. This follows the initial agreement which was signed in December 2015 and has been renewed thereafter.

    The BCSA enables the exchange of local currencies between the two central banks with a value of up to AUD10 billion (equivalent to USD6,2 billion) and the corresponding IDR.

    The renewal reflects the long-standing financial cooperation between BI and RBA and indicates the strong commitment of both central banks to further promote bilateral trade and investment for the economic development of Australia and Indonesia, contribute to financial stability for both countries and for other mutually agreed purposes.

    MIL OSI Economics

  • MIL-OSI China: HK’s Emperor Group opens Beijing cinema, eyes cultural exchange

    Source: China State Council Information Office 3

    Hong Kong entertainment conglomerate Emperor Group opened a flagship cinema in Beijing on Friday, signaling confidence in the Chinese film market while aiming to boost cultural exchanges.

    (From left to right) Zhang Yimou, Jackie Chan, Albert Yeung and Feng Xiaogang pose for a photo at the grand opening ceremony of a new Emperor cinema in Beijing, Feb. 28, 2025. [Photo courtesy of Emperor Group]

    The cinema is located in Taikoo Li Sanlitun, a trendy shopping area in the capital known for international brands. This marks Emperor Cinemas’ second Beijing location, following its existing venue at the Emperor Group Centre.

    The grand opening was attended by Albert Yeung, chairman of Emperor Group; Fu Ruoqing, chairman of China Film Group; Mani Fok, chief executive officer of Emperor Entertainment (Beijing) Limited; and Ma Zedan, general manager of Taikoo Li Sanlitun, along with top executives from Swire Properties. The event drew a star-studded lineup of guests, including acclaimed film directors Zhang Yimou, Feng Xiaogang and Guan Hu, as well as renowned actors Jackie Chan, Ge You, Zhang Guoli, Nicholas Tse and Liu Yase.

    Executives of Emperor Group and partners, as well as star-studded guests, pose for a photo at the grand opening ceremony of a new Emperor cinema in Beijing, Feb. 28, 2025. [Photo courtesy of Emperor Group]

    Yeung emphasized his company’s confidence in the Chinese film market during the grand opening. The high-end cinema, equipped with advanced projection technologies like IMAX and Dolby, has operated in a soft opening phase since late last year, consistently attracting sizable audiences. Attendance surged during the recent Spring Festival holiday when “Ne Zha 2” broke records to become the highest-grossing film of all time in China and the highest-grossing animated film ever worldwide.

    The company says the cinema will serve as more than just a venue for watching films by functioning as a platform for cultural exchange. The facility plans to host movie premieres, director meet-and-greets, and fan gatherings to promote the dissemination and exchange of film culture, making cinema more accessible to broader audiences.

    The Beijing location features Emperor’s new dining brand, Cinebites, allowing moviegoers to enjoy food options without leaving the venue. Spanning 6,076 square meters, the facility houses seven screening halls, accommodating up to 1,001 guests.

    Albert Yeung and movie star Nicholas Tse perform the “dotting the lion’s eyes” ritual at the grand opening ceremony of a new Emperor cinema in Beijing, Feb. 28, 2025. [Photo courtesy of Emperor Group]

    Han Zhi, director of retail at Swire Properties, stated that Taikoo Li Sanlitun has long been committed to providing high-quality social and entertainment experiences. He added that the addition of Emperor Cinemas would enhance cultural offerings across Beijing’s Sanlitun commercial district.

    MIL OSI China News

  • MIL-OSI New Zealand: Release: Mark Mitchell missing in action

    Source: New Zealand Labour Party

    Police Minister Mark Mitchell is avoiding accountability by refusing to answer key questions in the House as his Government faces criticism over their dangerous citizen’s arrest policy, firearm reform, and broken promises to recruit more police.

    “Despite being responsible for policing, Mark Mitchell is missing in action. He has refused to answer questions on key issues affecting New Zealander’s safety,” Labour police spokesperson Ginny Andersen said

    “Instead of fronting up on the citizen’s arrest proposal, Mitchell left it to Justice Minister Paul Goldsmith, despite strong opposition from the Police Association and Retail NZ.

    “When asked about firearms law changes, Mitchell defers to Nicole McKee, a former gun lobbyist.

    “On police recruitment, Mitchell promised 500 new officers in two years, but since his statement, police numbers have dropped. The Government now needs to recruit 572 officers in just nine months to meet its target—an impossible task if done properly. Instead of answering for his continued failures, he hides behind his deputy, Casey Costello, to respond.

    “Meanwhile, under Mark Mitchell’s watch, methamphetamine use has surged to historic levels. New Zealanders deserve a Police Minister who will break the cycle of crime, not one who hides when the tough questions come,” Ginny Andersen said.


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    MIL OSI New Zealand News

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on March 04, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 25,000
    Total amount of bids received (in ₹ crore) 5,855
    Amount allotted (in ₹ crore) 5,855
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.27
    Partial Allotment Percentage of bids received at cut off rate (%) N.A.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2294

    MIL OSI Economics

  • MIL-OSI Asia-Pac: President Lai attends opening ceremony of GCTF Workshop on Whole-of-Society Resilience Building, Preparation, and Response

    Source: Republic of China Taiwan

    Details
    2025-02-24
    President Lai meets Japanese House of Representatives Member Tamaki Yuichiro
    On the afternoon of February 24, President Lai Ching-te met with Japanese House of Representatives Member Tamaki Yuichiro. In remarks, President Lai noted that Taiwan and Japan are important trading partners. The president expressed hope that, in addition to semiconductors, Taiwan and Japan can also bolster cooperation in the fields of hydrogen energy and drones and build non-red supply chains, thus creating economic win-win situations and maintaining peace and stability in the Indo-Pacific region and globally. A translation of President Lai’s remarks follows: I would like to start by warmly welcoming Representative Tamaki on his first trip to Taiwan. Now is a key moment for the cooperative ties between Taiwan and Japan, and the fact that Representative Tamaki has chosen to take time out of his busy schedule to make this trip demonstrates his especially meaningful support for Taiwan. For this I want to express my deepest gratitude. At the beginning of this month, Japan and the United States held a summit meeting. In the post-summit joint leaders’ statement the government of Japan reiterated the importance of maintaining peace and stability across the Taiwan Strait, opposed any attempts to unilaterally change the status quo by force or coercion, and expressed support for Taiwan’s meaningful participation in international organizations. I would like to thank the government of Japan for these statements. Taiwan and Japan are both responsible members of the international community. I welcome an even firmer friendship between Japan and the US and hope to see cooperation among Taiwan, Japan, and the US become a solid force in consolidating peace and stability in the Indo-Pacific region. In addition to complex international conditions, we now also face the threat of China’s red supply chain. More and more countries are becoming increasingly concerned about such issues as economic security and supply chain resilience. As authoritarianism consolidates, democratic nations must also come closer in solidarity. Taiwan and Japan are important trading partners. I hope that, in addition to semiconductors, Taiwan and Japan can also bolster cooperation in the fields of hydrogen energy and drones, and that we can build non-red supply chains, thus creating economic win-win situations and maintaining peace and stability in the Indo-Pacific region and globally. Lastly, I would like once again to welcome Representative Tamaki to Taiwan and wish him a successful visit. I hope he departs Taiwan with a deep impression and that he will visit again. Representative Tamaki then delivered remarks, noting that this was his first visit to Taiwan and thanking President Lai and officials of the Taiwan government for their warm welcome. Pointing out that Taiwan-Japan ties are closer than ever thanks to the major efforts made on this front by President Lai since taking office, Representative Tamaki expressed his admiration and gratitude. Representative Tamaki pointed out that in a changing global landscape, Taiwan, Japan, and the Indo-Pacific region all face major changes, but he firmly believes that Taiwan-Japan relations will develop even further. Recalling President Lai’s previous remarks, the representative said that Japan and the US recently held a summit meeting that yielded important results. In the joint leaders’ statement, he noted, the two sides made a clear commitment regarding peace and stability across the Taiwan Strait and firmly opposed any attempts to unilaterally change the status quo by force or coercion. Representative Tamaki said that the ruling Liberal Democratic Party and the Komeito did not win a majority in last year’s House of Representatives general elections, while the number of seats held by his own Democratic Party for the People quadrupled. This result, he said, has filled him with a feeling of great responsibility. Moving forward, he intends to continue promoting Taiwan-Japan cooperation and strengthening relations. Also in attendance at the meeting was Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

    Details
    2025-02-21
    President Lai meets Abe Akie, wife of late Prime Minister Abe Shinzo of Japan
    On the morning of February 21, President Lai Ching-te met with Abe Akie, the wife of late Prime Minister Abe Shinzo of Japan. In remarks, President Lai thanked Mrs. Abe for carrying on the legacy of former Prime Minister Abe, being a benevolent and determined force for regional peace and prosperity, and calling on all parties to continue to place attention on peace in the Taiwan Strait. The president stated that Taiwan will carry on the legacy and spirit of former President Lee Teng-hui and former Prime Minister Abe, safeguard the values of freedom and democracy, and deepen the Taiwan-Japan friendship. A translation of President Lai’s remarks follows: Last May, Mrs. Abe came to Taiwan to attend the inauguration ceremony for myself and Vice President Bi-khim Hsiao, and we reminisced about the past here at the Presidential Office. I would like to warmly welcome her back today. I am also delighted to be meeting with all guests in attendance. Yesterday, Mrs. Abe and I attended the opening of the very first Halifax Taipei forum, for which Mrs. Abe also delivered a keynote speech earlier today. In her speech, she offered valuable input on global security and democratic development. I would like to thank Mrs. Abe for making this special trip to Taiwan to take part, showing her strong support for Taiwan. Former Prime Minister Abe pioneered the vision of a free and open Indo-Pacific, and called on the international community to pay attention to peace and stability in the Taiwan Strait and Indo-Pacific. These have become common strategic goals of democratic countries around the world and will have a far-reaching influence over international developments and Taiwan’s security. They were important contributions that former Prime Minister Abe made in regard to the Taiwan Strait and the Indo-Pacific region. Recently, current Prime Minister of Japan Ishiba Shigeru and United States President Donald Trump held a meeting and jointly reiterated the importance of peace and stability across the Taiwan Strait, as well as opposed unilateral changes to the status quo by force or coercion. They also expressed support for Taiwan’s participation in international organizations. This shows that Prime Minister Ishiba is furthering the legacy of former Prime Minister Abe. We are very grateful for the former prime minister’s friendship toward Taiwan, and to Mrs. Abe for carrying on his legacy. Mrs. Abe is a benevolent and determined force for regional peace and prosperity, and has called on all parties at numerous public venues to continue to place attention on peace in the Taiwan Strait. Last December, for instance, she traveled at the invitation of President Trump and his wife to the US, where she addressed cross-strait issues and spoke up for Taiwan. We were deeply moved by this. As authoritarian states continue to expand, Taiwan will keep working alongside like-minded nations such as Japan and the US, as well as the European Union, to jointly contribute to regional and global peace and prosperity. I look forward to continued advancement of regional peace and prosperity with the help of Mrs. Abe’s efforts. Mrs. Abe will also be meeting with daughter of former President Lee and Lee Teng-hui Foundation Chairperson Annie Lee (李安妮) tomorrow. Former President Lee and former Prime Minister Abe were both fully devoted to promoting Taiwan-Japan relations. We will carry on their legacy and spirit, safeguard the values of freedom and democracy, and deepen the Taiwan-Japan friendship. In closing, I wish you all a smooth and successful visit. Mrs. Abe then delivered remarks, first expressing her sincere thanks to President Lai for taking the time to meet. She said that former Prime Minister Abe hailed from Yamaguchi Prefecture, and that accompanying her that day were House of Councillors Member Kitamura Tsuneo, Yamaguchi Prefecture Governor Muraoka Tsugumasa, Yamaguchi Prefectural Assembly Deputy Speaker Shimata Noriaki, and many other important figures from Yamaguchi. If former Prime Minister Abe’s spirit could look upon this scene, she said, he would certainly be very pleased. Mrs. Abe recalled that when the former prime minister passed away, then-Vice President Lai traveled to their official residence to express his condolences and pay tribute. She said that she will never forget such a gesture of deep friendship, heartfelt condolences, and care. The year before last, she indicated, a memorial photo exhibition for former Prime Minister Abe was held in Taiwan, and many Taiwanese people from all walks of life came to view it. Last year, Mrs. Abe continued, she had the privilege of attending President Lai’s inauguration ceremony, where she met with many friends from Taiwan and personally felt the close and beautiful ties that Taiwan and Japan share. Mrs. Abe stated that she will carry out the wishes of former Prime Minister Abe and do her utmost to help raise Taiwan-Japan relations to new heights, saying that she looks forward to hearing the advice that President Lai and all those present have to offer. The delegation also included Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

    Details
    2025-02-20
    President Lai attends opening of 2025 Halifax Taipei forum
    On the afternoon of February 20, President Lai Ching-te attended the opening of the 2025 Halifax Taipei forum. In remarks, President Lai thanked the Halifax International Security Forum for their strong support for Taiwan, and for having chosen Taiwan as the first location outside North America to hold a forum. Noting that we face a complex global landscape, the president called on the international community to take action. He said that as authoritarianism consolidates, democratic nations must also come closer in solidarity, and called on the international community to create non-red global supply chains, as well as unite to usher in peace. President Lai emphasized that Taiwan will work toward maintaining peace and stability in the Taiwan Strait, and collaborate with democratic partners to form a global alliance for the AI chip industry and together greet a bright, new era. A transcript of President Lai’s remarks follows: To begin, I want to give a warm welcome to all the distinguished guests here at the very first Halifax Taipei forum. The Halifax International Security Forum, held every year in Canada, has been an important gathering for freedom-loving nations worldwide. I would like to thank Halifax and President [Peter] Van Praagh for their strong support for Taiwan. Every year since 2018, Taiwan has been invited to participate in the forum. Last year, former President Tsai Ing-wen was invited to speak, and this year, Halifax has chosen Taiwan as the first location outside North America to hold a forum. As President Van Praagh has said, “While the security challenges ahead are too big for any single country to solve alone, there is no challenge that can’t be met when the world’s democracies work together.” Today, we have world leaders and experts who traveled from afar to be here, showing that they value and support Taiwan. It demonstrates solidarity among democracies and the determination to take on challenges as one. I would like to express my gratitude and admiration to all of you for serving as defenders of freedom. At this very moment, Russia’s invasion of Ukraine is still ongoing. Authoritarian regimes including China, Russia, North Korea, and Iran continue to consolidate. China is hurting economies around the world through its dumping practices. We face grave challenges to global economic order, democracy, freedom, peace, and stability. Taiwan holds a key position on the first island chain, directly facing an authoritarian threat. But we will not be intimidated. We will stand firm and safeguard our national sovereignty, maintain our free and democratic way of life, and uphold peace and stability across the Taiwan Strait. Taiwan cherishes peace, but we also have no delusions about peace. We will uphold the spirit of peace through strength, using concrete actions to build a stronger Taiwan and bolster the free and democratic community. I sincerely thank the international community for continuing to attach importance to the situation in the Taiwan Strait. Recently, US President Donald Trump and Japan’s Prime Minister Ishiba Shigeru issued a joint leaders’ statement expressing their firm support for peace and stability across the Taiwan Strait, and for Taiwan’s participation in international affairs. As we face a complex global landscape, I call on the international community to take the following actions: First, as authoritarianism consolidates, democratic nations must also come closer in solidarity. Just a few days ago, the top diplomats of the US, Japan, and South Korea held talks, underlining the importance of maintaining peace and stability across the Taiwan Strait. They also conveyed their stance against “any effort to destabilize democratic institutions, economic independence, and global security.” On these issues, Taiwan will also continue to contribute its utmost. I recently announced that we will prioritize special budget allocations to ensure that our defense budget exceeds 3 percent of GDP.  Soon after I assumed office last year, I formed the Whole-of-Society Defense Resilience Committee at the Presidential Office. This committee aims to combine the strengths of government and civil society to enhance our resilience in national defense, economic livelihoods, disaster prevention, and democracy. We will also deepen our strategic partnerships in the democratic community to mutually increase defense resilience, demonstrate deterrence, and achieve our goal of peace throughout the world. Second, let’s create non-red global supply chains.  For the democratic community to deter the expansion of authoritarianism, it must have strong technological capabilities. These can serve as the backbone of national defense, promote industrial development, and enhance economic resilience. So, in addressing China’s red supply chain and the impact of its dumping, Taiwan is willing and able to work with global democracies to maintain the technological strengths among our partners and build resilient non-red supply chains. As a major semiconductor manufacturing nation, Taiwan will introduce an initiative on semiconductor supply chain partnerships for global democracies. We will collaborate with our democratic partners to form a global alliance for the AI chip industry and establish democratic supply chains for industries connected to high-end chips. The achievements of today’s semiconductor industry in Taiwan can be attributed to our collective efforts. Government, industry, academia, and research institutions had to overcome various challenges over the last 50 years for us to secure this position.  We hope Taiwan can serve as a base for linking the capabilities of our democratic partners so that each can play a suitable role in the semiconductor industry chain and develop its own strengths, deepening our mutually beneficial cooperation in technology. This benefits all of us. Moreover, it allows us to further enhance deterrence and maintain global security. Third, let’s unite to usher in peace. China has not stopped intimidating Taiwan politically and militarily. Last year, China launched several large-scale military exercises in the Taiwan Strait. Its escalation of gray-zone aggression now poses a grave threat to the peace and stability of the Indo-Pacific region. As a responsible member of the international community, Taiwan will maintain the status quo. We will not seek conflict. Rather, we are willing to engage in dialogue with China, under the principles of parity and dignity, and work toward maintaining peace and stability in the Taiwan Strait. As the agenda of this forum suggests, democracy and freedom create more than just opportunities; they also bring resilience, justice, partnerships, and security. Taiwan will continue working alongside its democratic partners to greet a bright, new era. Once again, a warm welcome to all of you. I wish this forum every success. Thank you. Also in attendance at the event were Mrs. Abe Akie, wife of the late former Prime Minister Abe Shinzo of Japan, and Halifax International Security Forum President Van Praagh.

    Details
    2025-02-18
    President Lai meets British-Taiwanese All-Party Parliamentary Group delegation
    On the morning of February 18, President Lai Ching-te met with a delegation from the British-Taiwanese All-Party Parliamentary Group (APPG). In remarks, President Lai thanked the delegation members, the Parliament of the United Kingdom, and the UK government for continuing to demonstrate support for Taiwan through a variety of means. He also stated that Taiwan-UK relations have advanced significantly in recent years, noting that the Taiwan-UK Enhanced Trade Partnership (ETP) is the first institutionalized economic and trade framework signed between Taiwan and any European country. The president said he looks forward to continuing to deepen Taiwan-UK relations and jointly maintaining regional and global peace and stability, and indicated that together, we can create win-win developments for both Taiwan and the UK and Taiwan and European nations. A translation of President Lai’s remarks follows: This is the first UK parliamentary delegation of the current session to visit Taiwan. On behalf of the people of Taiwan, I extend my sincerest welcome to you all. APPG Chair Sarah Champion visited Taiwan last May to attend the inauguration ceremony of myself and Vice President Bi-khim Hsiao. In July, she also attended the annual summit of the Inter-Parliamentary Alliance on China (IPAC), which was held in Taipei. I am delighted that we are meeting once again. Taiwan-UK relations have advanced significantly in recent years. I would especially like to thank our distinguished guests, as well as the UK Parliament and government, for continuing to demonstrate support for Taiwan through a variety of means. For example, the House of Commons held a debate on Taiwan’s international status last November. After the debate, a motion was unanimously passed affirming that United Nations General Assembly (UNGA) Resolution 2758 does not mention Taiwan. Responding to the motion, Parliamentary Under-Secretary of State Catherine West stated that the UK opposes any attempt to broaden the interpretation of the resolution to rewrite history. This highlighted concrete progress in Taiwan-UK bilateral relations. I would also like to thank the UK Parliament and government for openly opposing on multiple occasions any unilateral change to the status quo across the Taiwan Strait, and for emphasizing that the security of the Indo-Pacific and transatlantic regions is closely intertwined. We look forward to continuing to deepen Taiwan-UK relations and jointly maintaining regional and global peace and stability. Together, we can create win-win developments for both Taiwan and the UK and Taiwan and European nations. For example, the Taiwan-UK ETP is the first institutionalized economic and trade framework signed between Taiwan and any European country. We hope to swiftly conclude negotiations on signing sub-arrangements on investment, digital trade, and energy and net-zero transition. This will facilitate even more exchanges and cooperation between Taiwan and the UK. We also hope that the UK will continue to support Taiwan’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Together, we can build even more resilient global supply chains and further contribute to global prosperity and development. I believe that this visit adds to a strong and solid foundation for future Taiwan-UK cooperation. Thank you once again for backing Taiwan. I wish you a fruitful and successful visit. Chair Champion then delivered remarks, thanking President Lai for his warm welcome and for the hospitality he has shown to her and the delegation, and thanking Taiwan’s excellent team of officials for their care and attention. Chair Champion expressed that she thinks the IPAC conference held in Taiwan at the end of July last year was very significant, with legislators from 23 countries coming to show support for Taiwan, adding that that is something they have built on since the conference. She stated that she is also very proud that the UK Parliament supported the motion which made very clear that UNGA Resolution 2758 is specific to China and only to China, expressing that it was important and powerful that they recognize that. The chair went on to say that after the UK’s general election, more than half of the members of parliament are now new. She said she is very proud that there are new MPs as part of the delegation, and that she hopes it gives President Lai reassurance that their commitment to Taiwan is still there.  Chair Champion emphasized that the all-party group is important because it is indeed all-party, and that they work together for their common interests, stating that the common interest for the UK and for the world is to maintain Taiwan’s sovereignty. She also noted that the United States has now come out very much in support of Taiwan, which she said she hopes encourages other countries around the world to do the same. Chair Champion said that the UK will be going into the 27th trade negotiation with Taiwan, and that they hope the partnership that develops is very fruitful. The chair closed by saying that it is wonderful for the delegation to be meeting President Lai, as well as legislators and ministers, and to be understanding more about the culture of Taiwan so that they can build a deeper, longer-lasting friendship. The delegation also included Lord Purvis of Tweed of the House of Lords and Members of Parliament Ben Spencer, Helena Dollimore, Noah Law, and David Reed. The delegation was accompanied to the Presidential Office by Political and Communications Director at the British Office in Taipei Natasha Harrington.  

    Details
    2025-02-17
    President Lai meets former United States Deputy National Security Advisor Matthew Pottinger
    On the morning of February 17, President Lai Ching-te met with a delegation led by former United States Deputy National Security Advisor Matthew Pottinger. In remarks, President Lai thanked the delegation for demonstrating staunch support for Taiwan through their visit. The president pointed out that increased cooperation between authoritarian regimes is posing risks and challenges to the geopolitical landscape and regional security. He emphasized that only by bolstering our defense capabilities can we demonstrate effective deterrence and maintain peace and stability across the Taiwan Strait and around the world. The president stated that moving forward, Taiwan will continue to enhance its self-defense capabilities. He also expressed hope of strengthening the Taiwan-US partnership and jointly building secure and resilient non-red supply chains so as to ensure that Taiwan, the US, and democratic partners around the world maintain a technological lead. A translation of President Lai’s remarks follows: I am delighted to welcome our good friends Mr. Pottinger and retired US Rear Admiral Mr. Mark Montgomery to Taiwan once again. Last June, Mr. Pottinger and Mr. Ivan Kanapathy came to Taiwan to launch their new book The Boiling Moat. During that visit, they also visited the Presidential Office. We held an extensive exchange of views on Taiwan-US relations and regional affairs right here in the Taiwan Heritage Room. Now, as we meet again eight months later, I am pleased to learn that Mr. Kanapathy is now serving on the White House National Security Council. The Mandarin translation of The Boiling Moat is also due to be released in Taiwan very soon. This book offers insightful observations from US experts regarding US-China-Taiwan relations and valuable advice for the strengthening of Taiwan’s national defense, security, and overall resilience. I am sure that Taiwanese readers will benefit greatly from it. I understand that this is Mr. Montgomery’s fourth visit to Taiwan and that he has long paid close attention to Taiwan-related issues. I look forward to an in-depth discussion with our two friends on the future direction of Taiwan-US relations and cooperation. Increased cooperation between authoritarian regimes is posing risks and challenges to the geopolitical landscape and regional security. One notion we all share is peace through strength. That is, only by bolstering our defense capabilities and fortifying our defenses can we demonstrate effective deterrence and maintain peace and stability across the Taiwan Strait and around the world. Moving forward, Taiwan will continue to enhance its self-defense capabilities. We also hope to strengthen the Taiwan-US partnership in such fields as security, trade and the economy, and energy. In addition, we will advance cooperation in critical and innovative technologies and jointly build secure and resilient non-red supply chains. This will ensure that Taiwan, the US, and democratic partners around the world maintain a technological lead. We believe that closer Taiwan-US exchanges and cooperation not only benefit national security and development but also align with the common economic interests of Taiwan and the US. I want to thank Mr. Pottinger and Mr. Montgomery once again for visiting and for continuing to advance Taiwan-US exchanges, demonstrating staunch support for Taiwan. Let us continue to work together to deepen Taiwan-US relations. I wish you a smooth and fruitful visit.  Mr. Pottinger then delivered remarks, first congratulating President Lai on his one-year election anniversary and on the state of the economy, which, he added, is doing quite well. Mentioning President Lai’s recent statement pledging to increase Taiwan’s defense budget to above 3 percent of GDP, Mr. Pottinger said he thinks that the benchmark is equal to what the US spends on its defense and that it is a good starting point for both countries to build deterrence. Echoing the president’s earlier remarks, Mr. Pottinger said that peace through strength is the right path for the US and for Taiwan right now at a moment when autocratic, aggressive governments are on the march. He then paraphrased the words of former US President George Washington in his first inaugural address, saying that the best way to keep the peace is to be prepared at all times for war, which captures the meaning of peace through strength. In closing, he said he looks forward to exchanging views with President Lai.

    Details
    2025-02-14
    President Lai holds press conference following high-level national security meeting
    On the morning of February 14, President Lai Ching-te convened the first high-level national security meeting of the year, following which he held a press conference. In remarks, President Lai announced that in this new year, the government will prioritize special budget allocations to ensure that Taiwan’s defense budget exceeds 3 percent of GDP. He stated that the government will also continue to reform national defense, reform our legal framework for national security, and advance our economic and trade strategy of being rooted in Taiwan while expanding globally. The president also proposed clear-cut national strategies for Taiwan-US relations, semiconductor industry development, and cross-strait relations. President Lai indicated that he instructed the national security and administrative teams to take swift action and deliver results, working within a stable strategic framework and according to the various policies and approaches outlined. He also instructed them to keep a close watch on changes in the international situation, seize opportunities whenever they arise, and address the concerns and hope of the citizens with concrete actions. He expressed hope that as long as citizens remain steadfast in their convictions, are willing to work hand in hand, stand firm amidst uncertainty, and look for ways to win within changing circumstances, Taiwan is certain to prevail in the test of time yet again. A translation of President Lai’s remarks follows: First, I would like to convey my condolences for the tragic incident which occurred at the Shin Kong Mitsukoshi department store in Taichung, which resulted in numerous casualties. I have instructed Premier Cho Jung-tai (卓榮泰) to lead the relevant central government agencies in assisting Taichung’s municipal government with actively resolving various issues regarding the incident. It is my hope that these issues can be resolved efficiently. Earlier today, I convened this year’s first high-level national security meeting. I will now report on the discussions from the meeting to all citizens. 2025 is a year full of challenges, but also a year full of hope. In today’s global landscape, the democratic world faces common threats posed by the convergence of authoritarian regimes, while dumping and unfair competition from China undermine the global economic order. A new United States administration was formed at the beginning of the year, adopting all-new strategies and policies to address challenges both domestic and from overseas. Every nation worldwide, including ours, is facing a new phase of changes and challenges. In face of such changes, ensuring national security, ensuring Taiwan’s indispensability in global supply chains, and ensuring that our nation continues to make progress amidst challenges are our top priorities this year. They are also why we convened a high-level national security meeting today. At the meeting, the national security team, the administrative team led by Premier Cho, and I held an in-depth discussion based on the overall state of affairs at home and abroad and the strategies the teams had prepared in response. We summed up the following points as an overall strategy for the next stage of advancing national security and development. First, for overall national security, so that we can ensure the freedom, democracy, and human rights of the Taiwanese people, as well as the progress and development of the nation as we face various threats from authoritarian regimes, Taiwan must resolutely safeguard national sovereignty, strengthen self-sufficiency in national defense, and consolidate national defense. Taiwan must enhance economic resilience, maintain economic autonomy, and stand firm with other democracies as we deepen our strategic partnerships with like-minded countries. As I have said, “As authoritarianism consolidates, democratic nations must come closer in solidarity!” And so, in this new year, we will focus on the following three priorities: First, to demonstrate our resolve for national defense, we will continue to reform national defense, implement whole-of-society defense resilience, and prioritize special budget allocations to ensure that our defense budget exceeds 3 percent of GDP. Second, to counter the threats to our national security from China’s united front tactics, attempts at infiltration, and cognitive warfare, we will continue with the reform of our legal framework for national security and expand the national security framework to boost societal resilience and foster unity within. Third, to seize opportunities in the restructuring of global supply chains and realignment of the economic order, we will continue advancing our economic and trade strategy of being rooted in Taiwan while expanding globally, strengthening protections for high-tech, and collaborating with our friends and allies to build supply chains for global democracies. Everyone shares concern regarding Taiwan-US relations, semiconductor industry development, and cross-strait relations. For these issues, I am proposing clear-cut national strategies. First, I will touch on Taiwan-US relations. Taiwan and the US have shared ideals and values, and are staunch partners within the democratic, free community. We are very grateful to President Donald Trump’s administration for their continued support for Taiwan after taking office. We are especially grateful for the US and Japan’s joint leaders’ statement reiterating “the importance of maintaining peace and stability across the Taiwan Strait as an indispensable element of security and prosperity for the international community,” as well as their high level of concern regarding China’s threat to regional security. In fact, the Democratic Progressive Party government has worked very closely with President Trump ever since his first term in office, and has remained an international partner. The procurement of numerous key advanced arms, freedom of navigation critical for security and stability in the Taiwan Strait, and many assisted breakthroughs in international diplomacy were made possible during this time. Positioned in the first island chain and on the democratic world’s frontline countering authoritarianism, Taiwan is willing and will continue to work with the US at all levels as we pursue regional stability and prosperity, helping realize our vision of a free and open Indo-Pacific. Although changes in policy may occur these next few years, the mutual trust and close cooperation between Taiwan and Washington will steadfastly endure. On that, our citizens can rest assured. In accordance with the Taiwan Relations Act and the Six Assurances, the US announced a total of 48 military sales to Taiwan over the past eight years amounting to US$26.265 billion. During President Trump’s first term, 22 sales were announced totaling US$18.763 billion. This greatly supported Taiwan’s defensive capabilities. On the foundation of our close cooperation with the past eight years’ two US administrations, Taiwan will continue to demonstrate our determination for self-defense, accelerate the bolstering of our national defense, and keep enhancing the depth and breadth of Taiwan-US security cooperation, along with all manner of institutional cooperation. In terms of bilateral economic cooperation, Taiwan has always been one of the US’s most reliable trade partners, as well as one of the most important cooperative partners of US companies in the global semiconductor industry. In the past few years, Taiwan has greatly increased both direct and indirect investment in the US. By 2024, investment surpassed US$100 billion, creating nearly 400,000 job opportunities. In 2023 and 2024, investment in the US accounted for over 40 percent of Taiwan’s overall foreign investment, far surpassing our investment in China. In fact, in 2023 and 2024, Taiwanese investment in China fell to 11 percent and 8 percent, respectively. The US is now Taiwan’s biggest investment target. Our government is now launching relevant plans in accordance with national development needs and the need to establish secure supply systems, and the Executive Yuan is taking comprehensive inventory of opportunities for Taiwan-US economic and trade cooperation. Moving forward, close bilateral cooperation will allow us to expand US investment and procurement, facilitating balanced trade. Our government will also strengthen guidance and support for Taiwanese enterprises on increasing US investment, and promote the global expansion and growth of Taiwan’s industries. We will also boost Taiwan-US cooperation in tech development and manufacturing for AI and advanced semiconductors, and work together to maintain order in the semiconductor market, shaping a new era for our strategic economic partnership. Second, the development of our semiconductor industry. I want to emphasize that Taiwan, as one of the world’s most capable semiconductor manufacturing nations, is both willing and able to address new situations. With respect to President Trump’s concerns about our semiconductor industry, the government will act prudently, strengthen communications between Taiwan and the US, and promote greater mutual understanding. We will pay attention to the challenges arising from the situation and assist businesses in navigating them. In addition, we will introduce an initiative on semiconductor supply chain partnerships for global democracies. We are willing to collaborate with the US and our other democratic partners to develop more resilient and diversified semiconductor supply chains. Leveraging our strengths in cutting-edge semiconductors, we will form a global alliance for the AI chip industry and establish democratic supply chains for industries connected to high-end chips. Through international cooperation, we will open up an entirely new era of growth in the semiconductor industry. As we face the various new policies of the Trump administration, we will continue to uphold a spirit of mutual benefit, and we will continue to communicate and negotiate closely with the US government. This will help the new administration’s team to better understand how Taiwan is an indispensable partner in the process of rebuilding American manufacturing and consolidating its leadership in high-tech, and that Taiwan-US cooperation will benefit us both. Third, cross-strait relations. Regarding the regional and cross-strait situation, Taiwan-US relations, US-China relations, and interactions among Taiwan, the US, and China are a focus of global attention. As a member of the international democratic community and a responsible member of the region, Taiwan hopes to see Taiwan-US relations continue to strengthen and, alongside US-China relations, form a virtuous cycle rather than a zero-sum game where one side’s gain is another side’s loss. In facing China, Taiwan will always be a responsible actor. We will neither yield nor provoke. We will remain resilient and composed, maintaining our consistent position on cross-strait relations: Our determination to safeguard our national sovereignty and protect our free and democratic way of life remains unchanged. Our efforts to maintain peace and stability in the Taiwan Strait, as well as our willingness to work alongside China in the pursuit of peace and mutual prosperity across the strait, remain unchanged. Our commitment to promoting healthy and orderly exchanges across the strait, choosing dialogue over confrontation, and advancing well-being for the peoples on both sides of the strait, under the principles of parity and dignity, remains unchanged. Regarding the matters I reported to the public today, I have instructed our national security and administrative teams to take swift action and deliver results, working within a stable strategic framework and according to the various policies and approaches I just outlined. I have also instructed them to keep a close watch on changes in the international situation, seize opportunities whenever they arise, and address the concerns and hope of the citizens with concrete actions. My fellow citizens, over the past several years, Taiwan has weathered a global pandemic and faced global challenges, both political and economic, arising from the US-China trade war and Russia’s invasion of Ukraine. Through it all, Taiwan has persevered; we have continued to develop our economy, bolster our national strength, and raise our international profile while garnering more support – all unprecedented achievements. This is all because Taiwan’s fate has never been decided by the external environment, but by the unity of the Taiwanese people and the resolve to never give up. A one-of-a-kind global situation is creating new strategic opportunities for our one-of-a-kind Taiwanese people, bringing new hope. Taiwan’s foundation is solid; its strength is great. So as long as everyone remains steadfast in their convictions, is willing to work hand in hand, stands firm amidst uncertainty, and looks for ways to win within changing circumstances, Taiwan is certain to prevail in the test of our time yet again, for I am confident that there are no difficulties that Taiwan cannot overcome. Thank you.

    MIL OSI Asia Pacific News

  • MIL-Evening Report: ‘Our film won an Oscar. But here in West Bank’s Masafer Yatta we’re still being erased.’

    AMY GOODMAN: And the Oscars were held Sunday evening. History was made in the best documentary category.

    SAMUEL L. JACKSON: And the Oscar goes to ‘No Other Land’.

    AMY GOODMAN: The Palestinian-Israeli film No Other Land won for best documentary. The film follows the struggles of Palestinians in the occupied West Bank community of Masafer Yatta to stay on their land amidst violent attacks by Israeli settlers aimed at expelling them. The film was made by a team of Palestinian-Israeli filmmakers, including the Palestinian journalist Basel Adra, who lives in Masafer Yatta, and the Israeli journalist Yuval Abraham. 

    Both filmmakers — Palestinian activist and journalist Basel Adra, who lives in Masafer Yatta, and Israeli journalist Yuval Abraham — spoke at the ceremony. Adra became the first Palestinian filmmaker to win an Oscar.

    BASEL ADRA: Thank you to the Academy for the award. It’s such a big honor for the four of us and everybody who supported us for this documentary.

    About two months ago, I became a father. And my hope to my daughter, that she will not have to live the same life I am living now, always fearing — always — always fearing settlers’ violence, home demolitions and forceful displacements that my community, Masafer Yatta, is living and facing every day under the Israeli occupation.

    ‘No Other Land’ reflects the harsh reality that we have been enduring for decades and still resist as we call on the world to take serious actions to stop the injustice and to stop the ethnic cleansing of Palestinian people.

    YUVAL ABRAHAM: We made this — we made this film, Palestinians and Israelis, because together our voices are stronger.

    We see each other — the atrocious destruction of Gaza and its people, which must end; the Israeli hostages brutally taken in the crime of October 7th, which must be freed.

    When I look at Basel, I see my brother. But we are unequal. We live in a regime where I am free under civilian law and Basel is under military laws that destroy his life and he cannot control.

    There is a different path: a political solution without ethnic supremacy, with national rights for both of our people. And I have to say, as I am here: The foreign policy in this country is helping to block this path.

    And, you know, why? Can’t you see that we are intertwined, that my people can be truly safe if Basel’s people are truly free and safe? There is another way.

    It’s not too late for life, for the living. There is no other way. Thank you.


    Israeli and Palestinian documentary ‘No Other Land’ wins Oscar. Video: Democracy Now!

    Article by AsiaPacificReport.nz

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Australia: Albanese Government backs maritime skills and training

    Source: Australian Ministers 1

    The Albanese Labor Government is investing $16.9 million to support skills and training in the maritime industry. 

    A new maritime skills and training initiative will give up to 20 trainee seafarers each year, for four years, access to berths to complete sea time required for international certification.

    This will support the Government’s maritime Strategic Fleet and the broader industry.

    $2.5 million will also flow to the Transport and Logistics Jobs and Skills Council (JSC) to address training barriers, and ultimately Australia’s maritime skills shortage.

    The JSC’s 2024 Maritime Workforce Plan confirmed that access to training berths is a major issue, with lacking coordination across industry and training providers resulting in sea time not being effectively accessed and utilised.

    Today’s announcement directly responds to recommendations identified by both the Maritime Workforce Plan and Strategic Fleet Taskforce Final Report, and will also support the implementation and long-term sustainability of a maritime Strategic Fleet.

    The Government released the Strategic Fleet Taskforce Final Report in November 2023, before undertaking targeted consultation with vessel operators and unions.

    We are now moving ahead with delivering on the report’s recommendations. 

    Late last year, the Strategic Fleet Pilot tender closed and proposals are now being evaluated as part of a competitive, open and transparent procurement process.

    The Government also appointed Ms Lynelle Briggs and Prof Nicholas Gaskell to co-chair reviews of the Shipping Registration Act 1981 and Coastal Trading (Revitalising Australian Shipping) Act 2012 to support the long-term sustainability of Australia’s maritime industry and Strategic Fleet, which are now underway.

    Meanwhile, the Australian Maritime Safety Authority is collaborating with the Fair Work Ombudsman to address wage theft issues aboard foreign-flagged vessels operating under the Coastal Trading Act, signing an updated Memorandum of Understanding earlier this year.

    Quotes attributable to Infrastructure, Transport, Regional Development and Local Government Minister Catherine King:

    “Our investment in a new skills and training program will give trainee seafarers vital access to berths onboard vessels – including those under contract to the Australian Government – needed to meet their international certification. 

    “Not only will this be welcome news for vocational and tertiary level qualified seafarers in need of sea time, it will also support the vessels offering the training berths.

    “This is yet another demonstration of our Government’s commitment to investing in a sustainable maritime industry, one with the skills needed to thrive into the future.”

    Quotes attributable to Skills and Training Minister Andrew Giles:

    “The maritime industry is so important to the Australian economy, so it is critical that we have the skilled seafarers to keep it afloat.

    “We’ve recently established a Maritime Skills Network, bringing together government, industry and unions, to come up with solutions to challenges in the sector and this announcement will go a long way towards workforce shortage concerns.

    “This program will ensure a pipeline of trained Australian seafarers over the coming years that can fill critical functions such as harbour masters, marine pilots and regulatory roles protecting our environment and the safety of vessels operating in our waters.”

    MIL OSI News

  • MIL-OSI Australia: Press conference – Australian Maritime College

    Source: Australian Ministers 1

    JESS TEESDALE: We’re very excited to welcome the Minister for Infrastructure and Transport, Catherine King, here today, particularly some of the announcements that we’re about to hear. So very, very grateful. Thank you so much, Minister.

    CATHERINE KING: Thanks, Jess. Well, it’s terrific to be here at the Australian Maritime College with Jess Teesdale, Labor’s Candidate for the seat of Bass. I’m very much looking forward to- I hear fabulous things about Jess everywhere I go and I’m very much looking forward to, hopefully, seeing her – after the election, whenever that might be – to seeing her with us in Canberra as the Federal Member for Bass.

    Well, today I particularly want to acknowledge Mal Wise, who’s a former friend and- well, a good friend and colleague who has hosted us here at the Australian Maritime College. One of the things that we have been very conscious of as a government is that our maritime skills are incredibly important. They’re part of an important part of the sovereign capability we have as a nation, and so many of them are trained here.

    And today we are announcing that, as part of the work that we did on the strategic fleet and as part of the work both through representations from the Maritime Union of Australia and the Maritime Industry associations, that we really do want to make sure that all of the fabulous students who are coming through this college are able to start to get access to sea time. One of the blockers of actually getting maritime skills is actually getting that sea time, getting that berth on a ship to be able to complete the practical parts of your training that you need to actually do.

    And so today, we’re announcing over $16.9 million over the next four years which will pay for 20 seafarers to actually get, with industry, berths on ships to get that sea time. As I said, this is a really important part of our sovereign capability. And often what will happen, we know that the students that come through here are in very high demand. But in order to get that sea time, often many of them have to go overseas to do that and we don’t get them back. 

    So, if we’re going to have those seafarers for our Defence forces, for our civil maritime sector which is so important, particularly here in Tasmania but right the way across our coastline, we need to actually make sure that we can keep that training pipeline. This has been a really significant issue for some time. We’ve been working with Jobs and Skills Australia on this work as well, and some of the funding will go also to their different industry groups to actually continue that work to actually get the berths.

    The other thing that we’re here in Launnie today I’m announcing is some really significant road funding. We’ve been working with the Tasmanian Government on what are the next tranches of funding for roads that really do need investment here in this community. And so we’re announcing here a $43 million package of new road funding. Both planning money, so one of the things that has been a hallmark of the Albanese-Labor Government is what we’ve been trying to do is make sure we invest early in planning; we get that planning, design services movement work. We get the funding to do that first, then we make sure we’ve got a very clear eyed view about what investments needed if needed for that to go forward.

    So, $20 million we’re announcing to do the detailed design work for a new crossing of the Tamar. I know how important that is. It has been on the books for a long period of time, and so working with the Tasmanian Government to actually get that second crossing, $20 million from the Albanese-Labor Government to really ensure that we’ve got that work done. That combined, of course, with money that’s going – $10 million – towards Esk Main Road. And particularly, trying to look at how do we deal with the bottleneck at St Mary’s Pass, and how do we actually get what the alternatives might be so that $10 million really working with the Tasmanian Government to developing, and what those alternate routes might be, and working from there.

    We’ve also announced some further money to really do that planning work, again, through Devonport to Cradle Mountain. What we know is that there is significant issues either to get people there, the road is not adequate, and so we’re increasing our commitment to $6.3 million to do that planning work again. To get a better understanding of how we actually can do the work to actually improve the roads that go to Cradle Mountain as well.

    The other thing we’ve announced today, and Jess and I just went out and had a look at it just before we came here, is active transport. For the first time, we’ve had $100 million dedicated out of the Infrastructure Investment Program specifically for active transport. We know along many of our main roads, there just isn’t room for people to cycle safely, for people to work- walk their push- or walk their children in pushes, or to walk, or people on mobility scooters to get around. So a $1.3 million investment alongside Launceston City Council and also the Mersey Valley Council as well to do two active paths as well. So that’s part of the package that we’re here announcing today – a really significant investment in moving people around, but also training the next generation of seafarers. I can’t think of a better place to have been able to do that than the Australian Maritime College, which is a significant part of the eco-structure of training those seafarers into the future. I’m really happy to take questions.

    JOURNALIST: Maybe firstly on the funding for the Tamar bridge …

    CATHERINE KING: Yeah.

    JOURNALIST: … that’s been an ongoing issue for years. We’ve already seen millions poured into feasibility studies and planning. A lot of locals would see this as just more money for more planning. When’s the planning actually going to end?

    CATHERINE KING: Well, when the planning ends is when you actually have a plan – you know what it is that you’re actually going to build, you’ve done the geotech work to understand underground, what can you actually do, you’ve actually done what the route is, where you have to look at land acquisition, all of those things. And we are very serious about that. This is something that has been asked for by the Tasmanian Government and- wants that investment to try and make sure that this time we get it right. I don’t invest in planning money without then knowing that in the future, I am then going to be asked for construction money. But what we do first is put that planning money in, particularly because this will be a significant investment, a really significant investment. You don’t build a bridge for a small- that amount of money. It is a significant investment that will be required. But the planning money allows us to get an understanding of exactly what the costs are going to be going forward.

    JOURNALIST: The Tasmanian Government put in a planning proposal to Infrastructure Australia last year for the bridge. So was that plan not good enough?

    CATHERINE KING: Well, this isn’t- that wasn’t funded. That is a business case that they’ve put in. This is doing the actual work to plan the bridge. This is, you know, the structural elements that are needed in order to actually build a bridge.

    JOURNALIST: And is this promised funding, like, already budgeted? Or is this an election [indistinct]?

    CATHERINE KING: Yeah, this is already budgeted. Correct.

    JOURNALIST: Is- I suppose, like- that funding [indistinct] a guarantee that the- I suppose, the Federal Government will also fund the [indistinct] bridge being built later on?

    CATHERINE KING: Yeah. So what you’ve seen in the history of the reforms that I took to Infrastructure Australia and also the reforms I’ve taken to our infrastructure investment pipeline, which is the Government’s co-funding that we do with states and territories, is what I’ve done is reformed it so that we now have planning money. We’ve got a 10-year pipeline of projects from every state and territory coming forward. We’ve got a clear view about what the priorities are for each state and territory. We fund the planning, we get a good understanding of exactly what is needed, we do that detailed design work and then we look to then in subsequent budgets, put the money for construction. You don’t do planning without saying that, you’re actually then going to invest in the bridge later on.

    JOURNALIST: How quickly would the Federal Government like the Tasmanian Government to get this planning completed?

    CATHERINE KING: We always like things to be done as quickly as possible, but infrastructure, particularly big scale infrastructure, takes time. And we expect- we want that planning work to be done well. We want to make sure that we actually get a very- as I said, a very clear view of what the actual costs of the bridge will be, because it won’t be cheap. Let’s be realistic about that. It will be an expensive bridge to build.

    JOURNALIST: And that $3.8 million extra for the Devonport to Cradle Mountain Corridor …

    CATHERINE KING: Yeah.

    JOURNALIST: …does that include a potential future cableway at Cradle Mountain?

    CATHERINE KING: Well, what I fund out of the infrastructure Investment Program is land transport. So I fund road, and that’s really what I, as Transport and Infrastructure Minister, are- looking at. Obviously, if there is a request to build a- [indistinct] which had some previous money but really was substantially underfunded, realistically the amount of money that was allocated wasn’t going to go anywhere near actually building that. In order- if that is what the Tasmanian Government wants instead of the roads, then they’ll need to come and put forward a proposition to either me or to the Prime Minister about what that looks like. What this money will do is- really substantially looking at the road infrastructure, and how do you get people up there by car or bus.

    JOURNALIST: And on the- maybe on the seafarers, that $16.9 million – so would that go directly to the AMC, or will it go to a shipping company?

    CATHERINE KING: So we’re just working through that at the moment. Obviously, we will need to work both with shipping companies, with colleges and the Department of Employment and Workplace Relations, who also have the Jobs and Skills Australia, to look at how we can commission those berths. The money will need to obviously go to the shippers themselves to actually pay for the berths on the ships, but we just want to make sure we’ve got that pipeline well and truly ready there. We’ve seen a great surge of students here through the Australian Maritime College, but what we also want to do is make sure that we’re seeing continued- or we’re seen- to see a surge of students who’re actually wanting to do sea time to actually work on ships, not so much as well as the land side.

    JOURNALIST: Realistically, then, how soon could seafarers have that on-sea training?

    CATHERINE KING: Well, the money will be available shortly. But again, we’ve got to do that negotiation, and again, you’re seeing- you’ll get a chance to talk to some of the people from SeaLink who are really fantastic at providing sea time for trainees out of the college here. But we’ve still got to do a little bit of work in order to bring that online, but- realistically, the money is available now, but we’ll need to negotiate those berths through with each company.

    JOURNALIST: And in terms of the, I suppose [indistinct] as well, how soon, kind of will- like, that money be made available?

    CATHERINE KING: Again, it’ll be up to the Tasmanian Government. They have asked requested the money of us. We’re now saying that that is available. They have to put a project proposal report to me, and we’ll release that money once that report’s given to us.

    JOURNALIST: And of what- like, you- I suppose I’m seeing of the highways on …

    CATHERINE KING: Yeah.

    JOURNALIST: … I suppose, on both sides of the Tamar – how crucial is that bridge?

    CATHERINE KING: Well, I think it’s- one of the things that people talk about in Launceston particularly is that sort of bottleneck, that you’re really needing- having to go such a long way around to actually get across the river. And being able to make that second crossing feasible to really open up different parts, you’re seeing- a lot of people want to come to Tasmania to live. A lot of people want to- we’re seeing new housing estates pop up, and we’ve really got to make sure we can move people around this in a better way, and really, the second bridge crossing is about that, and so doing that planning work now in anticipation of building a new bridge.

    MIL OSI News

  • MIL-Evening Report: NZ must protest Israel’s latest ‘weasel out’ war crime cutting humanitarian aid, says PSNA

    Asia Pacific Report

    One of the leading Palestinian solidarity groups in Aotearoa New Zealand has demanded that the government condemn Israel’s cutting off of all humanitarian aid to Gaza.

    Israel announced its latest “humanitarian outrage” against the Palestinian people of Gaza as it tries to renegotiate the three-phased ceasefire agreement it signed with Hamas in January.

    “Israel is trying to weasel its way out of the agreement because it doesn’t want to negotiate stage two which requires it to withdraw its troops from Gaza,” said Palestine Solidarity Network Aotearoa (PSNA) co-national chair John Minto.

    “Israel signed the ceasefire agreement and it must be forced to follow it through,” he said in a statement today.

    “Cutting off humanitarian aid is a blatant war crime and New Zealand must say so without equivocation.

    “Our government has been complicit with Israeli war crimes for the past 16 months and has previously refused to condemn Israel’s use of humanitarian aid as a weapon of war.

    “It’s time we got off our knees and stood up for international law and United Nations resolutions.”

    Violation of Geneva Conventions
    Meanwhile, a Democrat senator, Peter Welch (vermont), yesterday joined the global condemnation of the Israeli “weaponisation” of humanitarian aid.

    In a brief post on X, responding to Israel blocking the entry of all goods and supplies into Gaza, Senator Peter Welch, a Democrat from Vermont, simply said:

    In a brief message on X, Senator Welch said: “This is a violation of the Geneva Conventions.”

    UN Secretary-General Antonio Guterres has hailed the launch of the Berlin Initiative led by former peace negotiators Yossi Beilin and Hiba Husseini.

    In a statement, Guterres said the world must end this terrible war and lay the foundations for lasting peace, “one that ensures security for Israel, dignity and self-determination for the Palestinian people, and stability for the entire region”.

    This required a clear political framework for Gaza’s recovery and reconstruction, he said.

    “It requires immediate and irreversible steps towards a two-State solution — with Gaza and the West Bank, including East Jerusalem, unified under a legitimate Palestinian authority, accepted and supported by the Palestinian people.

    “And it requires putting an end to occupation, settlement expansion and threats of annexation.”

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Australia: Emerging business risks in 2025

    Source: Allens Insights

    Navigating the challenges in a complex environment 7 min read

    We are in the midst of rapid technological advancements, shifting regulatory and political landscapes, evolving social expectations and visible impacts of climate change. In this context, Australian companies and their directors and officers are navigating an increasingly complex, inter-connected and unpredictable risk environment.

    Key takeaways

    As part of our ongoing CPD Series, Allens hosted a discussion with Christine Holman, a senior non-executive director with over 30 years of experience, on the emerging risks boards and management are facing in 2025. The session highlighted several key issues that are expected to shape the year ahead.

    • Geopolitical uncertainty is an increasingly prominent feature of the international landscape, threatening global supply chains and operational stability.
    • Inflation will continue to trouble economies around the world, spilling across borders and putting a strain on business financial performance.
    • Cyber incidents have escalated in frequency, scale, sophistication and severity.
    • Climate change is having increasingly tangible impacts on the natural environment in which Australian businesses operate.
    • Reputational issues tie directly to company value as they are scrutinised under a media spotlight of higher political, regulatory and social expectations.
    • Technological advancements are occurring faster than ever, requiring businesses to adapt quickly to respond to new opportunities whilst managing the risks they present.

    The discussion also touched on the practical steps companies can take to navigate these risks, not only to avoid exposure to downside scenarios, but to capitalise on the opportunities that lie ahead.

    Geopolitical uncertainty

    In recent years—and indeed just these last few days—there have been growing challenges to the post-World War II, rules-based world order, which has given way to increasing geopolitical instability around the world.

    Prolonged military conflicts have significantly impacted civilian populations through displacement, loss of life and heightened instability, whilst more broadly resulting in actions such as sanctions and supply disruptions. In addition, the rise of protectionist and nationalistic ideologies is now seeing the return of tariffs and pullback from previously settled global trade relationships. In this evolving environment, Australian businesses will need to remain vigilant given the importance of our trade relationship with China and our close security ties with the United States.

    In addition, as we move towards a federal election this year, there is the potential for these forces to manifest in domestic regulatory and economic policy settings as our politicians react to these global trends.

    Our experience has been that good governance, regular risk assessments and scenario planning, and appropriate management structures, assist to navigate these geopolitical challenges.

    Prolonged inflation

    At the same time, many economies including Australia have been experiencing pronounced and persistent inflation following global events such as the COVID-19 pandemic and the conflicts in Ukraine and the Middle East. These conditions have caused significant cost-of-living pressure at the individual household level, which is projected across the broader economy in the form of reduced demand and heightened uncertainty for businesses.

    In an environment like this, we see best practice involving companies seeking to plan for all scenarios. This often involves stress testing financial models and, if possible, looking to diversify supply chains to reduce exposure to economic fluctuations.

    Cybersecurity

    In 2024, the Australian Signals Directorate saw a cybercrime being recorded every six minutes. The growing frequency of major incidents in recent years has put a spotlight on the cyber vulnerabilities of Australian businesses and the huge consequences they can have for customers and shareholders.

    Cybersecurity has become a critical business continuity issue, though not all those in senior positions in Australian companies have experience in responding to cyber incidents. To bridge this gap, boards and senior management should be kept abreast of the relevant issues in this area both within and outside the company. Cyber strategies should not just be in place but be understood, and boards should challenge and validate the information they are given by management to test and assess these strategies where they see fit. This includes seeking out opportunities to learn from prominent examples in the market and undertaking live simulation exercises to test preparedness.

    Climate change

    Although climate change has been on the agenda for quite some time, it is an area that continues to evolve. Recent legislative reforms mean that certain Australian companies will soon publish their first mandatory sustainability reports. At the same time, we are seeing some stakeholders around the world signal a retreat from environmental initiatives and commitments, even as the physical effects of climate change continue to manifest in communities globally.

    Companies will need to be ready to comply with regulations in this space as they are introduced and, as part of good business planning, take steps to identify and mitigate their exposure to climate-related risks. From a risk mitigation perspective, this is particularly pertinent in Australia given it is the second-most popular jurisdiction globally for climate change litigation.

    Reputational matters

    Although a company’s reputation has always had intrinsic value, that value has become more tangible and apparent through the significant disruption and real financial consequences that some companies have felt when their reputation has come under the spotlight.

    Through this lens, there is an increasing sensitivity amongst customers and stakeholders to incidents or behaviour within companies that—whilst not necessarily illegal—falls below public expectations. Perceived shortcomings, whether justified or not, have seen some companies suffer significant loss in shareholder value, even if the financial performance of the company was otherwise sound.

    This focus has placed a spotlight on the role of the board in embedding and enforcing cultural expectations within the workplace.

    Artificial intelligence

    The continued development and adoption of artificial intelligence tools in the workplace has the potential to be one of the most important developments in the way we work in our lifetime. Companies that do not adapt quickly enough risk a competitive disadvantage, whilst those overly keen to embrace it need to ensure they understand the inherent risks in the technology and are attuned to the regulatory requirements and ethical considerations that flow from it.

    Understanding AI’s capabilities and limitations in the context of a specific business is critical, and key in informing the scale and pace at which the company should move. Companies are well placed to navigate these considerations where they foster a culture of lightweight R&D amongst their own people, including by investing in AI literacy at all levels of the organisation right up to the board.

    Responding to emerging risks

    Given the potential for emerging risks to evolve quickly and unpredictably, including those outlined above, managing these issues presents a formidable challenge, especially when directors and management are already grappling with significant responsibilities.

    With this in mind, we have seen companies position themselves to succeed when they do the following:

    Prioritise the information flowing to directors and streamline the issues they are being asked to consider and the decisions they are required to make. Information should be presented clearly and succinctly, so that directors can be confident they are getting the right information to make decisions and allocating their time appropriately across different issues.

    A management structure with clear allocation of responsibilities provides confidence that risks—including new ones—will be identified at the appropriate level and that they will be escalated and addressed as necessary. A good management structure is one which is explicit and transparent in its decision-making processes. It avoids relying on a leap of faith in the sufficiency of general policies and routine processes to adequately address more nuanced issues.

    Emerging risks can be highly complex and, by their very nature, involve new frontiers in dealing with issues that may be non-core or unfamiliar to the business. This underscores the importance of ongoing training programs and educational sessions for the board geared towards emerging risks and refreshing newer skills like digital and technology literacy. At the management level, it is necessary to consider the appropriateness of organisational structures and reporting lines to ensure they account for emerging risks. This could involve investing in personnel with expertise in particular areas of increasing prominence, such as cybersecurity and geopolitical strategy, who are equipped to execute strategy in practice, day to day.

    What’s next?

    Managing risk well can create opportunities as strategies and decisions play out in the global corporate landscape. We can expect all stakeholders—including regulators—to continue to keep a close eye on how Australian companies fare in 2025.

    The significance and complexity of a company’s emerging risk profile may be a daunting prospect to think about in abstract, but being informed and proactive are important early steps in identifying and managing these issues. When focusing on risks, it is instinctive to focus on possible downsides—however, the other side of the coin is the enormous opportunities that can be realised when strategies and decisions allow the company to effectively navigate these challenges.

    MIL OSI News

  • MIL-Evening Report: Tech companies’ proposed new safety codes won’t protect all kids online

    Source: The Conversation (Au and NZ) – By Toby Murray, Professor of Cybersecurity, School of Computing and Information Systems, The University of Melbourne

    Ludovic Toinel/Unsplash

    In July last year, Australia’s eSafety Commissioner, Julie Inman Grant, directed tech companies to develop codes of practice to keep children safe from online porn and harmful content. Now, after seven months, the industry has submitted draft codes to eSafety for approval.

    eSafety is currently assessing the draft codes.

    Assuming Grant approves the new codes, what can we expect the future to look like for children and teens online? And how effective will the proposed codes be at protecting children?

    A coordinated approach

    The codes submitted for approval were developed by a group of industry associations.

    They cover social media platforms such as Facebook and Snapchat. But they also cover internet service providers, search engines such as Google, online messaging services such as WhatsApp, online gaming platforms, as well as the manufacturers of the computers, mobile phones and software we use to access online services.

    The codes will also cover online app stores such as those operated by Apple and Google. However, app store codes aren’t expected to be released until late March.

    As well as covering a range of companies, the codes also cover a range of harms. They aim to protect kids not only from online pornography but also content that promotes self-harm, eating disorders, suicide and violence.

    Given the difficulty of protecting kids from this kind of content, this coordinated approach is absolutely essential.

    If the draft codes are approved, companies will have six months to implement the proposed safety measures. They will face fines of up to A$50 million for non-compliance.

    What’s in store?

    The draft codes are broken up across different parts of the tech ecosystem. The requirements they place on individual tech platforms depend on the danger harmful content on each platform poses to children.

    Large social media platforms such as Facebook, Instagram and X (formerly Twitter) are likely to be categorised among the most dangerous. That’s because it’s possible for users to access extremely harmful content such as child sexual abuse or terrorist material on these platforms. Plus, these platforms serve millions of people and also allow users to create public profiles, maintain “friend” lists, and share content widely.

    According to the draft codes, these platforms will need to implement the most stringent safety measures. These include using age-assurance measures to prevent children under the minimum age allowed to access the service from doing so, having an appropriately resourced trust and safety team, and using automated systems to detect and remove child abuse and pro-terror material.

    On the other hand, less risky platforms won’t be subject to any requirements under the draft codes. These include online platforms that allow only limited communication within a specific group of people and without social media features such as friends lists and public profiles. Platforms for communication within a primary school such as Compass would be among the least risky.

    Online search engines such as Google and Bing – which provide access to adult and self-harm content, but are legitimately used by children – will be required to implement appropriate measures to prevent children accessing that content.

    This may include enabling safe-search features and establishing child-user accounts. These accounts would include features that automatically blur harmful content and filter such content from search results and recommendation algorithms

    The codes also cover emerging harmful technology, such as deepfake porn apps powered by generative artificial intelligence. Like traditional porn sites, these will be required to implement age-assurance technology to prevent children using these services.

    What about age assurance?

    The codes specifically define what age-assurance measures are considered “appropriate”.

    Importantly, just because an age-checking system can be bypassed doesn’t disqualify it. Instead, age assurance measures must include “reasonable steps” to ensure someone is of age, while balancing privacy concerns.

    Requiring users to self-declare their age is not appropriate. So expect to see porn sites do away with click-through dialogs asking visitors to declare they are really adults.

    Instead, sites will have a range of options for assuring their users’ ages, including photo ID, estimating age based on facial images or video, having a parent attest to a child’s age, leveraging credit card checks, or AI-based methods for age inference.

    Different measures are likely to be used by different companies and systems.

    For example, Apple has already announced a range of new child safety measures that appear to align with many parts of the draft codes. These include making it easier for parents to set up child safety features on kids’ iPads and iPhones, using a parent’s payment information to ensure they can safely attest to their child’s age, as well as app store integration of child safety features to enable app developers to make their apps safer for children.

    On the other hand, adult sites and apps are likely to adopt age-assurance mechanisms that users perceive to be more private. For paying subscribers, they are likely to leverage the credit information already stored to assure the users’ age.

    Non-subscribers may instead be required to submit to a facial scan or other AI-based methods to estimate their age.

    Publicly available data on state-of-the-art systems for age estimation from facial images suggests the best systems have an average error of 3.7 years.

    Whether eSafety will agree such technology is “appropriate” remains to be seen. However, if it is adopted, there is a real risk many teens will remain able to access online porn and harmful deepfake apps despite these new codes.

    Toby Murray receives funding from Google. He is director of the Defence Science Institute, which receives funding from Victorian and Tasmanian state governments, and from the Commonwealth Department of Defence.

    ref. Tech companies’ proposed new safety codes won’t protect all kids online – https://theconversation.com/tech-companies-proposed-new-safety-codes-wont-protect-all-kids-online-251266

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI USA: Crapo Statement on McMahon Confirmation

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho) issued the following statement after the Senate confirmed, by a vote of 51-45, Linda McMahon to be Secretary of the U.S. Department of Education:

    “Despite being one of the world’s largest per-pupil investors in education, the U.S. continues to see student outcomes fall behind at alarming rates, with significant declines in core subjects like reading and mathematics.  As part of reversing this downward trend, the federal government must comprehensively evaluate its strengths and weaknesses when it comes to administering education programs.  Linda McMahon will bring this much-needed, outside-the-box thinking to the U.S. Department of Education, where she will also focus on key priorities such as defending Title IX and combating antisemitism on college campuses.  During President Trump’s first term, she excelled in leading the U.S. Small Business Administration.  That experience, as well as her positions on the Connecticut Board of Education and the board of trustees for Sacred Heart University, will enable her to effectively fulfill President Trump’s vision for the federal government’s role in education.  I congratulate Secretary McMahon on her confirmation.”

    MIL OSI USA News

  • MIL-OSI Economics: Asian Impact Webinar 89: Mapping the Unpaid Care Work Economy in Asia

    Source: Asia Development Bank

    The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.

    Headquarters

    6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines

    MIL OSI Economics

  • MIL-OSI USA: Tuberville, Kennedy Safeguard American Investors’ Privacy

    US Senate News:

    Source: United States Senator Tommy Tuberville (Alabama)

    WASHINGTON – U.S. Senator Tommy Tuberville (R-AL) joined U.S. Senator John Kennedy (R-LA) and ten of their Senate colleagues in cosponsoring the Protecting Investors’ Personally Identifiable Information Act, which would prohibit the Securities and Exchange Commission (SEC) from requiring brokers to submit investors’ identifiable information to its data tracking system, the Consolidated Audit Trail (CAT), in the wake of recent cyber-attacks and ongoing vulnerabilities.

    Sen. Tuberville cosponsored this legislation in the 118th Congress.  

    “Americans should be able to invest in the stock market without fear that their private information is up for grabs. This unlawful practice by the SEC is a useless system that enables our adversaries rather than protecting Americans. Far too often, we let cyber-attacks slip under the rug. This legislation safeguards our citizens and strengthens our cyber capabilities. I hope my colleagues join us in this commonsense legislation,” said Sen. Tuberville.

    “Americans assume their private information is secure when they invest money in the U.S. stock market. However, the SEC’s unlawful Consolidated Audit Trail could put their data in jeopardy. My bill would protect American investors from foreign enemies and bad actors by preventing the SEC from collecting personal information it doesn’t need and storing in on a dangerous database,” said Sen. Kennedy. 

    Senators Tuberville and Kennedy were joined by U.S. Senators John Boozman (R-AR), Katie Britt (R-AL), Tom Cotton (R-AR), Steve Daines (R-MT), Bill Hagerty (R-TN), Mike Lee (R-UT), Jerry Moran (R-KS), Pete Ricketts (R-NE), Mike Rounds (R-SD), and Rick Scott (R-FL) in cosponsoring the legislation.

    U.S. Congressman Barry Loudermilk (R-GA-11) led the effort in the U.S House of Representatives.

    The American Securities Association endorsed the legislation.

    Read full text of the legislation here. 

    BACKGROUND:

    The Protecting Investors’ Personally Identifiable Information Act would: 

    • Prohibit the SEC from requiring brokers to submit investors’ personally identifiable information to the CAT, with the exception that the SEC can obtain personally identifiable information related to investors only by requesting it on a case-by-case; and 
    • Require the SEC to delete personally identifiable information once the agency resolves any investigations or issue that required that information.

    Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP, and Aging Committees.

    MIL OSI USA News

  • MIL-OSI Economics: Money Market Operations as on March 03, 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) 5,77,489.16 6.11 5.15-6.75
         I. Call Money 12,742.85 6.32 5.15-6.45
         II. Triparty Repo 3,90,173.80 6.04 5.25-6.28
         III. Market Repo 1,72,735.61 6.23 5.70-6.75
         IV. Repo in Corporate Bond 1,836.90 6.42 6.35-6.50
    B. Term Segment      
         I. Notice Money** 128.00 6.14 5.80-6.30
         II. Term Money@@ 1,107.00 6.45-7.25
         III. Triparty Repo 350.00 6.24 6.10-6.35
         IV. Market Repo 801.04 6.62 6.60-6.62
         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 Mon, 03/03/2025 1 Tue, 04/03/2025 16,557.00 6.26
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Mon, 03/03/2025 1 Tue, 04/03/2025 8,802.00 6.50
    4. SDFΔ# Mon, 03/03/2025 1 Tue, 04/03/2025 1,48,673.00 6.00
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,23,314.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 21/02/2025 14 Fri, 07/03/2025 41,046.00 6.26
         (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$       9,095.71  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     2,33,105.71  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     1,09,791.71  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on March 03, 2025 9,04,036.65  
         (ii) Average daily cash reserve requirement for the fortnight ending March 07, 2025 9,22,740.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ March 03, 2025 16,557.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on February 07, 2025 -1,973.00  
    @ 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. 2024-2025/2013 dated January 27, 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: 2024-2025/2293

    MIL OSI Economics

  • MIL-OSI USA: Senator Markey Urges Commerce Committee to Investigate Musk’s Airline Safety Claims

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    Letter Text (PDF)
    Washington (March 3, 2025) – Senator Edward J. Markey (D-Mass.), member of the Senate Committee on Commerce, Science, and Transportation, today wrote to Commerce Committee Chairman Ted Cruz (R-Texas) and Ranking Member Maria Cantwell (D-Wash.) urging them to hold a hearing to investigate Elon Musk’s recent statements regarding the safety of the Federal Aviation Administration’s (FAA) Air Traffic Control System. Last week, Elon Musk posted on X suggesting that the FAA’s Air Traffic Control communications system “is single digit months to catastrophic failure, putting air traveler safety at serious risk.”
    In the letter, Senator Markey wrote, “Given Musk’s far-reaching role within the U.S. government and his recent involvement with the FAA’s information technology systems, Musk’s comments could understandably cause panic among air travelers. This Committee has worked diligently over the past few years to improve aviation safety, including in last year’s FAA Reauthorization Act, but the traveling public is understandably experiencing heightened anxiety about air travel after several recent and tragic plane crashes. Although the FAA’s information technology systems need modernization, Musk’s alarmist rhetoric appears extreme. If he has discovered new vulnerabilities in the FAA’s Air Traffic Control system, the Committee should know about such information immediately. If Musk cannot provide evidence of his claims, it raises serious questions about whether he is using his role as a senior government official to enrich his company SpaceX, currently competing for FAA contracts. In either case, the Commerce Committee has a responsibility to immediately hold a public hearing to investigate Musk’s claims on behalf of the American public.”
    On February 26, Senator Markey wrote to Chris Rocheleau, Acting Administrator of the FAA with questions about the FAA’s recent decision to deploy three Starlink terminals, which provide broadband internet connectivity through a satellite network, from Elon Musk’s SpaceX. Given Musk’s dual positions as CEO of SpaceX and wide-spread role in the Trump administration, this decision creates at least an appearance of a conflict-of-interest. 

    MIL OSI USA News