Category: Business

  • MIL-OSI: SimpSide – All In One

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Feb. 12, 2025 (GLOBE NEWSWIRE) — SimpSide has been designed to address the most pressing challenges in the world of financial trading. By providing innovative solutions to common issues, SimpSide delivers an entirely new and efficient experience for its users.

    Unmatched Security with SimpSide

    One of SimpSide’s most outstanding features is its commitment to user security and privacy. Unlike many other platforms that store user data on centralized servers thereby increasing the risk of breaches or misuse SimpSide takes a completely different approach. User information is never stored or shared with third parties, except in extreme cases such as combating money laundering or terrorism. This ensures that users retain complete control over their data and can trade with absolute peace of mind.

    Speed and Efficiency Like Never Before

    A common issue with many trading platforms is a decline in speed during periods of high market activity. SimpSide eliminates this problem with its state-of-the-art trading engine, which executes trades up to 12 times faster than traditional platforms. Even during times of extreme market volatility, SimpSide maintains a stable and fast performance. This allows users to act on investment opportunities in real-time, without worrying about delays or missed chances.

    All Markets, One Platform

    One of SimpSide’s most innovative features is its unified platform that provides simultaneous access to stocks, cryptocurrencies, and forex markets. Gone are the days of juggling multiple platforms to manage your investments or transferring funds between different systems. SimpSide brings everything together in one seamless, user-friendly interface, enabling users to manage their entire portfolio from a single location. This approach not only saves time and reduces costs but also significantly enhances the user experience.

    A Platform Built for the Future of Trading

    SimpSide is not just about solving existing problems in financial markets; it’s about setting new standards in the industry. By combining robust security measures, lightning-fast speed, and market integration, SimpSide empowers users to trade with confidence and convenience. This isn’t just a tool; it’s a step toward a better future in financial trading.

    Conclusion

    With SimpSide, concerns about data security, trade delays, or limited market access become a thing of the past. This platform is designed to meet all the needs of modern traders and provide a seamless, worry-free investment experience. SimpSide is the answer to the challenges of today’s financial markets and the bridge to a simpler, faster, and safer tomorrow.

    CONTACT:

    Official Website: Simpside.com

    X: SimpSide

    CEO: Antony Dee

    Email: Support@SimpSide.com

    Adress: Al Maktoum Street, Port Saeed, Deira, Dubai, United Arab Emirates

    Disclaimer: This press release is provided by SimpSide. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.

    Photos accompanying this announcement are available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/9d421263-a8f1-4682-831a-e8f94a741a71

    https://www.globenewswire.com/NewsRoom/AttachmentNg/79c9bc6d-1212-4b1f-9a67-ce5e9d1fb35c

    The MIL Network

  • MIL-Evening Report: Government-Coalition deal secures sweeping new regime for political donations and spending

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    The Albanese government has secured bipartisan support for a major new regime covering political donations and spending, after making significant concessions.

    The government agreed to increase the proposed threshold above which donations must be disclosed from $1000 to $5000. The present disclosure threshold is $16,900.

    In addition, it has boosted the cap on individual donations to a candidate or party from the earlier proposed $20,000 to $50,000.

    The deal was sealed on Wednesday when Special Minister of State Don Farrell had separate meetings on the final package with Prime Minister Anthony Albanese and Opposition leader Peter Dutton.

    The legislation had been expected to pass late last year but negotiations between the government and opposition stalled at the final moment.

    The government concessions were to accommodate not just the Coalition but also to respond to a degree to criticism from crossbenchers and some stakeholders outside parliament.

    The government needed to get opposition backing to ensure the legislation’s passage before parliament rises this week. If the PM called an April election this would be the last parliamentary sitting.

    Also, it wanted to pass the measures with the support of the alternative government so the new regime would not be undone in the future.

    The reforms are the most comprehensive changes to the electoral system in four decades. The government says they will stop big money coming to dominate politics. But they have been under attack from teal MPs and other critics, including Simon Holmes à Court from Climate 200, which has funded community independents. The critics say they favour the major parties and disadvantage new and small players.

    The new regime will not come into operation until the next parliamentary term and so does not affect this election.

    The changes include disclosure of donations in real time or near-real time, and a series of caps on spending, The cap on each candidate in an electorate would be $800,000, while a party’s national spending would also be capped. At the moment there are no spending caps.

    The legislation increases public funding for elections from under $3.50 per vote to about $5.

    Farrell has not proceeded with a separate measure on truth in advertising, saying there was not enough support for it.

    The Greens described the deal as “a fix”. “Labor and the Coalition are agreeing on rigging the system to lock out their competitors.”

    Independent Zoe Daniel, a teal, said the legislation “entrenches the dominance of the major parties and locks out independents and new competitors”.

    She said it imposed “strict campaign spending caps on Independents while
    allowing major parties to exploit loopholes to pour millions into key
    electorates.

    “Under the new rules, all an independent’s campaign materials – posters, ads, or billboards – would count towards the cap, while major party branding on billboards, leaflets and ads would not. This deliberate imbalance ensures that Labor and the Coalition maintain a financial stranglehold over elections,” Daniel said.

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

    ref. Government-Coalition deal secures sweeping new regime for political donations and spending – https://theconversation.com/government-coalition-deal-secures-sweeping-new-regime-for-political-donations-and-spending-249720

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Russia: 897 old houses have been completely resettled since the beginning of the renovation program

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Since the beginning of the renovation program, residents of more than 1,200 old houses have begun to move or have already moved into new apartments with improved finishing and high-quality repairs. This was reported by the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “Since the start of the renovation program in the capital, residents of 1,208 old houses have begun resettling. 897 of these buildings have already been completely resettled. The pace is growing: if in 2018-2019, 26 buildings were completely resettled, then in 2024 their number reached 307. Completely resettled houses are dismantled using smart demolition technology. New residential complexes with accompanying infrastructure are being built on the vacated sites,” said Vladimir Efimov.

    Thus, in 2020, residents moved out of 56 old buildings, in 2021 – from 69, in 2022 and 2023 – from more than 400 in total.

    “The largest number of houses were completely resettled in the South-Eastern Administrative District – 148 buildings were vacated there. In the east and west of the capital – 130 and 115 respectively. Almost 360 new buildings have been prepared for residents of old houses since the beginning of the renovation program. As part of the creation of a high-quality urban environment, the areas around residential complexes are being improved: comprehensive landscaping is being carried out, children’s and sports playgrounds, recreation areas are being equipped. In addition, video surveillance cameras are being installed for the safety of residents,” added the Minister of the Moscow Government, head of the capital’s Department of Urban Development Policy

    Vladislav Ovchinsky.

    In exchange for old housing, the city provides participants in the renovation program with comfortable apartments that are no less in area and number of rooms than the previous ones or have a larger area due to more spacious kitchens, corridors and bathrooms.

    According to the Minister of the Moscow Government, head of the capital’s Department of City Property Maxim Gaman, 148.5 thousand people lived in 897 houses resettled under the renovation program. All of them have already become owners of equivalent housing in new buildings. In the southeast of the capital, more than 26.9 thousand people who lived in 148 old buildings signed contracts for apartments in modern complexes. In the east, more than 20.4 thousand city residents from 130 such houses became new residents. In the west, more than 18.4 thousand Muscovites from 115 resettled buildings received the keys to comfortable apartments.

    The first floors of the constructed complexes are non-residential. They are intended for the placement of social and commercial facilities.

    Previously Mayor of Moscow congratulated The 200,000th resident who has begun resettlement under the renovation program.

    The renovation program was approved in August 2017. It concerns about a million Muscovites and provides for the resettlement of 5,176 houses. Earlier, Sergei Sobyanin instructed to double the pace of implementation of the renovation program.

    Moscow is one of the leaders among regions in terms of construction volumes. High rates of housing construction correspond to the goals and initiatives of the national project “Infrastructure for life”.

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

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

    https: //vv.mos.ru/nevs/ite/149987073/

    MIL OSI Russia News

  • MIL-OSI China: Announcement on Open Market Operations No.27 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.27 [2025]

    (Open Market Operations Office, February 12, 2025)

    In order to keep liquidity adequate in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB558 billion through quantity bidding at a fixed interest rate on February 12, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB558 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年02月12日

    MIL OSI China News

  • MIL-OSI: JLT Mobile Computers AB (publ) publishes 2024 Year-end report

    Source: GlobeNewswire (MIL-OSI)

    Växjö, Sweden, 12 February 2025 * * * JLT Mobile Computers, a leading supplier of rugged computers for demanding environments, today publishes its Year-end report for the full year 2024.

    Summary of key figures

    • Order intake MSEK 103.0 (135.4)
    • Net revenues MSEK 118.4 (158.8)
    • EBITDA MSEK -2.1 (4.8)
    • Depreciation and amortization of development expenses MSEK -8.1 (-2.5)
    • Operating profit MSEK -9.7 (1.9)
    • Profit after taxes MSEK -7.7 (1.6)
    • Cashflow +6.8 (-21.5)
    • No dividend is proposed (SEK 0.00)

    In short

    • Challenging macroeconomic and geopolitical conditions resulted in lower-than-normal demand for JLT products, a rough year for JLT as well as for many other industry colleagues where reports of layoffs and closures occurred.
    • Order intake for the year amounted to MSEK 103 compared to MSEK 135 last year, and sales amounted to MSEK 118, a decrease from MSEK 159 last year.
    • Starting to see a recovery in the market – several major deals booked in the US during the first quarter of 2025, of which one for a leading American food producer to a value of MSEK 22 plus service agreements (press release 2025-01-10). The total order intake in Q1 2025 so far exceeds MSEK 40.
    • To create a more cost-effective and market-adapted structure that enables efficient management and customer-driven development of JLT’s software solutions, the operations of the subsidiary JLT Software Solutions AB have been discontinued (press release 2025-01-17). Capitalized development expenses in the company have been written down and, together with other discontinuation costs, impact the group’s results in the fourth quarter by MSEK 5.0, of which MSEK 1.2 affects cash flow. Software development, including the JLT Insights product, has been integrated with the group’s other product development.
    • Development expenses related to Android have been written down by MSEK 1.7, as the product’s sales did not develop as expected.
    • In 2024, organizational and R&D costs were reduced by MSEK 5.4, despite one-time costs of MSEK 1.2. EBITDA ended at MSEK -2.1, compared to MSEK 4.8 the previous year. For 2025, the mentioned measures are expected to provide additional savings of MSEK 1.5 and reduce amortization of development expenses to MSEK 0.5 compared to MSEK 8.1 for 2024.
    • The core products in JLT’s VERSO and JLT1214™ series have been upgraded with new processors and new technology during the year to maintain JLT’s strong market position (press release 2024-06-13: VERSO and press release 2024-10-22: JLT1214).
    • In October, a senior marketing manager with extensive industry experience was recruited to JLT’s American subsidiary to lead marketing and partner strategy in the USA (press release 2024-10-15).
    • The organization in the French subsidiary, JLT France, has been expanded with a salesperson, and a planned generational shift in leadership has been carried out (press release 2024-10-01).
    • As a result of strategic measures implemented during 2024, inventory was reduced by 6.9 MSEK. Cash flow was positively impacted, and JLT added 6.8 MSEK to its cash reserves. Inventory is expected to be gradually reduced further during 2025.
    • 2024 marked an important milestone for JLT, celebrating 30 years as an innovator of rugged computer solutions (press release 2024-12-12). Since its inception in 1994, JLT has been part of the extensive transformation that the rugged IT solutions industry has undergone.        

    The full interim report is attached to this press release and available for download at the company’s website, jltmobile.com. Additional financial information is available online on JLT’s investor pages.

    This information is information that JLT Mobile Computers AB (pub) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below, at 08:00 pm CET on Wednesday, February 12, 2025.

    About JLT Mobile Computers

    JLT Mobile Computers is a leading supplier of rugged mobile computing devices and solutions for demanding environments. 30 years of development and manufacturing experience have enabled JLT to set the standard in rugged computing, combining outstanding product quality with expert service, support and solutions to ensure trouble-free business operations for customers in warehousing, transportation, manufacturing, mining, ports and agriculture. JLT operates globally from offices in Sweden, France, and the US, complemented by an extensive network of sales partners in local markets. The company was founded in 1994, and the share has been listed on the Nasdaq First North Growth Market stock exchange since 2002 under the symbol JLT. Eminova Fondkommission AB acts as Certified Adviser. Learn more at jltmobile.com.

    Attachment

    The MIL Network

  • MIL-OSI: New Sampo shares issued in the share split registered with the Finnish Trade Register

    Source: GlobeNewswire (MIL-OSI)

    Sampo plc, stock exchange release, 12 February 2025 at 8:30 am EET

    New Sampo shares issued in the share split registered with the Finnish Trade Register

    Sampo plc announced on 5 February 2025 the resolution by the Board of Directors of Sampo on a share split by way of a share issue without consideration in proportion to shares owned by shareholders. The new Sampo A and B shares are issued to shareholders in proportion to their existing holdings on the record day of the share issuance on 12 February 2025, so that four (4) new A shares are issued for each existing A share and four (4) new B shares are issued for each existing B share. After the share split, shareholders will have five Sampo shares for each old existing Sampo share. The new shares have been registered with the Finnish Trade Register today, 12 February 2025.

    In total, 2,152,191,088 new Sampo A shares and 800,000 new B shares were issued in the share split. Following the registration of the new shares, Sampo’s total share count amounts to 2,691,238,860 shares. The total number of A shares is 2,690,238,860 and the total number of votes attached to these shares is 2,690,238,860. The total number of B shares is 1,000,000 and the total number of votes attached to the shares is 5,000,000.

    Trading in the new A shares on Nasdaq Helsinki, Nasdaq Stockholm (in the form of Swedish depository receipts) and Nasdaq Copenhagen (in the form of share entitlements) is expected to commence on or about 13 February 2025. However, the new Swedish depository receipts are expected to be available on the accounts in Euroclear Sweden on or about 14 February 2025. The share split does not require any action from shareholders nor holders of Swedish depository receipts. The share split will not affect Sampo’s ISIN codes.

    SAMPO PLC
    Investors Relations and Group Communications

    For further information, please contact:

    Sami Taipalus
    Head of Investor Relations
    tel. +358 10 516 0030

    Distribution:
    Nasdaq Helsinki
    Nasdaq Stockholm
    Nasdaq Copenhagen
    London Stock Exchange
    FIN-FSA
    The principal media
    www.sampo.com

    The MIL Network

  • MIL-OSI: Year End Report 2024

    Source: GlobeNewswire (MIL-OSI)

    Highlights

    • The Company added a total of 50 GWh of annual long-term proportionate power generation through acquisitions in 2024, reflecting a five percent increase in long-term power generation, of which 20 GWh was added in the fourth quarter.
    • Power generation amounted to 907 GWh for the year, in line with the updated outlook, and power generation of 287 GWh during the fourth quarter marks the Company’s highest ever quarterly production.
    • Reached the ready-to-permit milestone for the Company’s first large-scale project in the UK, a 1.4 GW solar and 500 MW battery project, and initiated a sales process to assess divestment options.
    • Achieved carbon neutrality for Scope 1 and 2 carbon emissions.

    Consolidated financials – 12 months

    • Cash flows from investing activities amounted to MEUR 32.6 and was positively impacted by the sale of the Leikanger hydropower plant in the second quarter.
    • Cash flows from operating activities amounted to MEUR -6.3.

    Proportionate financials – 12 months

    • Achieved electricity price amounted to EUR 34 per MWh, which resulted in a proportionate EBITDA of MEUR 7.0.
    • Proportionate net debt of MEUR 65.0, with significant liquidity headroom available through the MEUR 170 revolving credit facility.

    Financial Summary

    Orrön Energy owns renewables assets directly and through joint ventures and associated companies and is presenting proportionate financials to show the net ownership and related results of these assets. The purpose of the proportionate reporting is to give an enhanced insight into the Company’s operational and financial results.

    Expressed in MEUR

    1 Jan 2024-
    31 Dec 2024
    12 months
    1 Oct 2024-
    31 Dec 2024
    3 months
    1 Jan 2023-
    31 Dec 2023
    12 months
    1 Oct 2023-
    31 Dec 2023
    3 months
    Consolidated financials        
    Revenue 25.7 7.1 28.0 8.4
    EBITDA -1.6 -2.5 -5.1 -0.9
    Operating profit (EBIT) -17.5 -6.3 -17.0 -4.4
    Net result -13.3 -6.6 -7.6 8.0
    Earnings per share – EUR -0.05 -0.02 -0.03 0.03
    Earnings per share diluted – EUR -0.05 -0.02 -0.03 0.03
    Proportionate financials1        
    Power generation (GWh) 907 287 765 226
    Average price achieved per MWh – EUR 34 30 47 43
    Operating expenses per MWh – EUR 17 14 18 16
    Revenue 30.7 8.7 36.2 9.6
    EBITDA 7.0 0.1 5.3 1.3
    Operating profit (EBIT) -12.9 -4.8 -11.0 -3.2

    1 Proportionate financials represent Orrön Energy’s proportionate ownership (net) of assets and related financial results, including joint ventures. For more details see section Key Financial Data in the Year End Report 2024.

    Comment from Daniel Fitzgerald, CEO of Orrön Energy AB
    “2024 marks another year of good progress despite challenging market conditions. We added around 50 GWh of long-term annual power generation through value-accretive acquisitions in Sweden, strengthened our balance sheet with the sale of the Leikanger hydropower asset, and launched our first sales process in the UK having reached the ready-to-permit stage on a project with 1.4 GW solar generation capacity and a 500 MW battery. In response to the volatile market conditions experienced in 2024, we initiated voluntary production curtailments across a portion of our portfolio, and started providing ancillary services to the market via some of our windfarms. These initiatives have helped us to reduce the impact of negatively priced hours and take advantage of alternative revenue streams. We remain focused on delivering profitable growth and are consistently looking for ways to improve performance during challenging market environments.

    Proportionate power generation amounted to 907 GWh for the year, which was in line with our updated outlook. We delivered a record quarterly power generation of 287 GWh in the fourth quarter, despite the impact of voluntary production curtailments during periods of low electricity prices. While the overall power generation in 2024 was impacted by lower-than-average wind speeds, we hope to see more normalised weather conditions in 2025, following four consecutive years of wind speeds below the historical long-term average. Taking into account this variability, the acquisitions made in 2024, and the potential for future curtailment, we expect our power generation in 2025 to be between 900 and 1,050 GWh, which gives some margin both for weather and market conditions.

    Capitalising on market opportunities
    The renewable energy industry continued to face headwinds in 2024, as elevated interest rates, inflation, and periods of low electricity prices led to downward pressures on valuations and stock prices across the sector. Uncertainty in the US and political shifts across Europe further impacted investor confidence regarding the pace and support for the energy transition. However, the long-term fundamentals for renewable energy remain strong, where onshore wind and solar continue to have the lowest breakeven cost by a significant margin compared to other sources. Despite political or economic headwinds, these investments are poised to stand the test of time. We maintained our strategic focus, adding over 50 GWh of long-term proportionate power generation in 2024 at a cost of less than 0.5 MEUR per MW. We have now replaced 50 percent of the production sold of the Leikanger asset, at a significantly lower unit cost, demonstrating a highly accretive and efficient recycling of capital.

    In the Nordics, electricity prices remained highly volatile, which impacted our financial results. This was largely driven by periods of oversupply due to lower seasonal demand, high hydrological balances, elevated gas storage and surplus electricity from interconnected European markets. Looking ahead, energy demand is forecast to grow, fuelled by GDP growth, continued electrification and increased power needs for data centres and artificial intelligence.

    First UK project reached ready-to-permit stage, sales process commenced
    We continued advancing our project development platform in the fourth quarter, and I am excited to announce that we achieved a significant milestone by having our first large-scale project in the UK reach the ready-to-permit stage. The project is a 1.4 GW solar and 500 MW co-located battery development, and we have initiated a sales process to evaluate divestment options. This is the first project from our pipeline to reach this milestone, and we expect to have a number of follow-on projects reaching the same stage in 2025 both in the UK and Germany. In the UK, two key regulatory reforms are currently ongoing; the Clean Power 2030 Action Plan and the grid connections reform. Both aim to simplify and enhance the ability for renewable energy projects to obtain a grid connection more efficiently based on zonal capacity expectations. These reforms have had an impact on our prioritisation of projects and created some uncertainty for investors in the UK, and we will continue to monitor developments aiming to ensure our projects remain well-positioned in this evolving regulatory landscape.

    Financially resilient
    We remain in a financially robust position, with liquidity headroom exceeding MEUR 100. Proportionate revenues and other income amounted to MEUR 8.9 for the fourth quarter and MEUR 42.1 for the year, which was impacted by low electricity prices, resulting in a proportionate EBITDA of MEUR 0.1 for the fourth quarter and MEUR 7.0 for the year. Our full-year expenditure guidance for 2025 remains largely in line with 2024 and the business strategy remains unchanged as we enter the new year.

    Entering the next chapter of growth
    Looking ahead to 2025 and beyond, I believe this will be a transformational period for Orrön Energy on many fronts. The Nordic business continues its organic growth with a good pipeline of projects, 1,000 GWh of long-term proportionate power generation and plenty of acquisition opportunities. The UK and German teams are rapidly reaching key milestones and we expect to see results from our project sales throughout 2025, with a material pipeline of opportunities to follow. We have now passed the halfway point of the Sudan legal case, and expect the District Court trial to finish during the second quarter of 2026, which will significantly reduce our future legal costs and positively impact our financial results thereafter. With the end of the Sudan trial in sight and our two organic growth platforms running, we can now start shaping the next strategic growth chapter for our business, and over the next year we will explore new opportunities to expand our portfolio and unlock additional value for our shareholders. I would like to thank our shareholders for their continued support and look forward to sharing updates on the exciting growth opportunities that lie ahead of us.”

    Webcast
    Listen to Daniel Fitzgerald, CEO and Espen Hennie, CFO commenting on the report and presenting the latest developments in Orrön Energy and its future growth strategy together with members of Orrön Energy’s management team at a webcast during the Company’s Capital Markets Day today at 14.00 CET. The presentation will be followed by a question-and-answer session.

    Follow the presentation live on the below webcast link:
    https://orron-energy.events.inderes.com/cmd-2025

    For further information, please contact:

    Robert Eriksson
    Corporate Affairs and Investor Relations
    Tel: +46 701 11 26 15
    robert.eriksson@orron.com

    Jenny Sandström
    Communications Lead
    Tel: +41 79 431 63 68
    jenny.sandstrom@orron.com

    Orrön Energy is an independent, publicly listed (Nasdaq Stockholm: “ORRON”) renewable energy company within the Lundin Group of Companies. Orrön Energy’s core portfolio consists of high quality, cash flow generating assets in the Nordics, coupled with greenfield growth opportunities in the Nordics, the UK, Germany and France. With financial capacity to fund further growth and acquisitions, and backed by a major shareholder, management and Board with a proven track record of investing into, leading and growing highly successful businesses, Orrön Energy is in a unique position to create shareholder value through the energy transition.

    This information is information that Orrön Energy AB is required to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the contact persons set out above, at 07.30 CET on 12 February 2025.

    Forward-looking statements
    Statements in this press release relating to any future status or circumstances, including statements regarding future performance, growth and other trend projections, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as “anticipate”, “believe”, “expect”, “intend”, “plan”, “seek”, “will”, “would” or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that could occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to several factors, many of which are outside the company’s control. Any forward-looking statements in this press release speak only as of the date on which the statements are made and the company has no obligation (and undertakes no obligation) to update or revise any of them, whether as a result of new information, future events or otherwise.

    Attachment

    The MIL Network

  • MIL-OSI: Aktia Bank Plc directs share issue to the company itself without payment

    Source: GlobeNewswire (MIL-OSI)

    Aktia Bank Plc
    Stock Exchange Release
    12 February 2025 at 8.15 a.m.

    Aktia Bank Plc directs share issue to the company itself without payment

    The Board of Directors of Aktia Bank Plc has, pursuant to the share issue authorization granted by the Annual General Meeting held on 3 April 2024, resolved on an issue of 180,000 new shares to the company itself without payment. The new shares to be issued to the company will be used for reward payments under the company’s incentive programs.

    The total number of the company’s shares after the share issue is 73,161,696 shares, of which 234,834 shares in total are held by the company.

    The new shares will be entered into the Trade Register approximately on 20 February 2025 and will be applied for public trading on Nasdaq Helsinki Ltd approximately as of 21 February 2025.

    Aktia Bank Plc

    Further information:
    Oscar Taimitarha, Director, Investor Relations, tel. +358 40 562 2315, ir (at) aktia.fi

    Distribution:
    Nasdaq Helsinki Ltd
    Mass media
    www.aktia.com

    Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 850 people around Finland. Aktia’s assets under management (AuM) on 31 December 2024 amounted to EUR 14.0 billion, and the balance sheet total was EUR 11.9 billion. Aktia’s shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.

    The MIL Network

  • MIL-OSI Russia: A residential area with a kindergarten will appear in the Sokolinaya Gora district under the KRT program

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    In the Sokolinaya Gora area, three sites will be reorganized under the integrated development of territories (IDT) program. The corresponding draft resolution published on the mos.ru portalThis was reported by the Deputy Mayor of Moscow for Urban Development Policy and Construction Vladimir Efimov.

    “Located in the east of the capital, three sites with a total area of 2.47 hectares are part of one integrated development project. It is planned to build a modern residential area with a kindergarten for the purposes of the renovation program. The total area of the property will be 46.5 thousand square meters. Investments in the development of the site are estimated at 7.7 billion rubles, and the annual budget effect is 28.7 million rubles,” said Vladimir Efimov.

    The plots are located near the Izmailovo station of the Moscow Central Circle and the Partizanskaya station of the Arbatsko-Pokrovskaya metro line.

    “The total area of new buildings for the purposes of the renovation program will be 41.5 thousand square meters. On the ground floors of residential buildings, there will be retail and utility facilities, as well as catering establishments. A kindergarten for 250 children will appear on the territory of the block. As a result, the city will receive about 65 jobs. All areas will be improved, landscaped, and new roads will be built here,” said the Minister of the Moscow Government, Head of the Department of City Property

    Maxim Gaman.

    Trees and shrubs will be planted on the territory, children’s and sports playgrounds will be equipped, as well as recreation areas for city residents.

    According to the Minister of the Moscow Government, Head of the Department of Urban Development Policy Vladislav Ovchinsky, in the Sokolinaya Gora area, residential complexes will be built for the purposes of the renovation program, the total area of apartments in which will be approximately over 24 thousand square meters. This will provide housing for about 900 Muscovites. Apartments for occupancy will be handed over with a finished, improved finish. The entrances will be equipped with rooms for concierges and stroller storage, and lights and video surveillance cameras will be installed on the territory.

    According to the program of integrated development of territories, multifunctional city quarters are being created, where roads, comfortable housing and all necessary infrastructure are being designed on the site of former industrial zones and inefficiently used areas. Currently, 302 KRT projects with a total area of about 4.2 thousand hectares are at various stages of implementation in the capital. This work is being carried out on behalf of the Mayor of Moscow.

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

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

    https: //vv.mos.ru/nevs/ite/149979073/

    MIL OSI Russia News

  • MIL-OSI United Nations: COP29 draft deal proposes wealthy nations give $250 billion in climate finance

    Source: United Nations MIL OSI b

    Climate and Environment

    A new draft finance deal delivered to harried negotiators in Baku on Friday – the final scheduled day for the UN climate talks that have been under way for the past two weeks – proposes rich countries commit $250 billion a year to help vulnerable nations cope with our warming planet and to accelerate the global switch to renewable energy.

    The new draft outcome text, which will surely push this round of talks into the weekend, called for the overall climate financing goal to reach “at least $1.3 trillion by 2035”, but left out specifics – grants, loans, or from the private sector – on how these funds will be raised.

    Delegations in Baku are expected to keep negotiating on several key issues:

    • Specifics about the role of developed countries in providing this new finance.
    • A global goal on a just transition.
    • Clear way forward on both adaptation and mitigation.

    The conference plenary is expected to reconvene on Saturday to work towards a final agreement.

    ‘A slap in the face’

    Civil society climate and environment advocates were quick to react to this latest draft.

    Some expressed their anger and disappointment at the draft by taping pieces of paper on their faces or foreheads with “Pay up!” written on them.

    Kelly Stone from ActionAid International Foundation explained to UN News, “I am wearing this because we are calling on Global North countries to pay up for climate finance and the debt they owe to the Global South.”

    Namrata Chowdhary from the 350.org, an international environmental organization, stated: “I can say it is disappointing [at] the very least.”

    “It is a slap. It is an insult. It is shocking that we are at this state now. The rich countries are basically gambling with the lives of people in the developing nations and small islands,” she said.

    Lidy Nacpil from Asian Peoples’ Movement on Debt and Development also expressed her disappointment. She also pointed out that “climate finance should not come in the form of loans because this will add to the debt burden”.

    “One of the issues that is preventing the Global South from undertaking urgent climate actions and also from providing our people with the essential services we need is the debt burden,” she told UN News.

    Jacobo Ocharan of Climate Action Network International said: “We urge all developing countries to have the courage in the negotiations to keep pushing, because this deal is terrible. We keep pushing on the idea that no deal is better than a bad deal.”

    UNFCCC/Kiara Worth

    Negotiating teams at COP29 in Baku, Azerbaijan, pictured here during a break in the talks, are working to reach agreement on a new climate financing deal.

    What’s at stake

    COP29, formally the 29th Conference of Parties to the UN Framework Convention on Climate Change (UNFCCC), has been dubbed, the ‘climate finance COP’ because parties are expected to establish a new global climate finance target.

    This target, or new collective quantified goal (NCQG), is seen as one of the summit’s main deliverables. It will replace the existing $100 billion goal that is due to expire in 2025.

    Climate experts have pegged the new annual funding goal at between $1 trillion and $1.3 trillion, which would assist vulnerable nations to deal with loss and damage from climate change and to adapt to that change, including building out their own clean-energy systems.

    Last week, in a move to support a new funding target, the World Bank Group and other multilateral development banks announced a significant boost in climate finance for low- and middle- income countries. This would reach $120 billion a year by 2030 with another $65 billion mobilised from the private sector, and a natural projection that would increase these values for 2035.

    A significant breakthrough on the opening day at COP29 was the adoption of Article 6 of the Paris Agreement, paving the way for a UN-backed global carbon market. This market will facilitate the trading of carbon credits, incentivizing countries to reduce emissions and invest in climate-friendly projects.

    Want to know more? Check out our special events page, where you can find all our coverage of COP29, including stories and videos, explainers and our newsletter.

    MIL OSI United Nations News

  • MIL-OSI United Nations: COP29: Governments, industry must stop ‘lip-service’ on methane and slash emissions, says UNEP

    Source: United Nations MIL OSI b

    Climate and Environment

    The UN environment agency chief warned the COP29 climate summit in Baku on Friday that methane emissions must come down – “and come down fast” –to have any chance of controlling global warming. 

    That message comes after a new UN report revealed that, over the past two years, a sophisticated system that detects significant methane leaks has sent 1,200 notifications to governments and businesses, but only one per cent of those notifications have been answered.

    Soundcloud

    “We now have a proven system to identify major leaks so they can be quickly stopped – often with simple repairs. We are quite literally talking about screwing bolts tighter in some cases,” Inger Anderson said, launching the report, which highlights plume alerts from the Methane Alert and Response System (MARS).

    The UN Environment Programme (UNEP) chief’s alert was just one of the many key events taking place today at COP29. The latest annual UN climate summit has been underway in the Azerbaijan capital city since Monday and heads into the weekend with experts and government negotiators set for tough talks over climate finance and emission reductions. The goal is reaching an agreement by the time the meeting wraps up at the end of next week.

    What is methane?

    According to UNEP, human-caused methane emissions are responsible for roughly one-third of the planet’s current warming. Reducing these emissions is the fastest, most cost-effective way to slow global warming in the near-term and is essential to averting critical climate damage.

    Three industries account for the majority of human-caused methane: agriculture, waste and fossil fuels. Coal mining contributes 12 per cent of emissions in the fossil fuel industry, while the extraction, processing, and distribution of oil and gas account for 23 per cent. 

    About 20 per cent of methane emissions in the waste sector come from wastewater and landfills. Finally, about 32 per cent of emissions in the agricultural sector come from grazing livestock and manure, while a further eight per cent come from rice farming.

    Right now, there is roughly 2.5 times the amount of methane in the atmosphere than there was during pre-industrial times and emissions have been rising in recent years, according to the UN World Meteorological Organization (WMO).

    How can we slash methane?

    While methane is considered an ‘aggressive greenhouse gas’ it is actually easier to reduce than carbon dioxide, or CO2, the better-known heat-trapping gas, because methane has a shorter lifespan in the atmosphere.

    The UNEP-led International Methane Emissions Observatory (IMEO) and the hi-tech MARS system use artificial intelligence (AI) and satellite data to detect gas releases and to help industry and countries identify and deal with large methane emissions.

    Governments and oil and gas companies must stop paying lip-service to this challenge when answers are staring them in the face,” stated Ms. Anderson, UNEP Executive Director. 

    Instead, they should recognize the significant opportunity presented “and start responding to alerts by plugging leaks that are spewing climate-warming methane into the atmosphere. The tools are ready, the targets are set – now it is time to act,” she said.

    While more remains to be done, the report does highlight examples of nations and companies responding – proving the value of data-driven solutions such as MARS. In 2024, the IMEO facility verified action to reduce emissions from major leaks in Azerbaijan and the United States. 

    In Algeria and Nigeria, MARS notifications and engagement led to direct action from the governments and oil and gas companies to address large methane leaks. For example, UNEP says that in the Nigeria case, the six-month leak emitted methane equivalent to 400,000 cars being driven for a year and was able to be fixed in under two weeks by simply replacing faulty equipment.

    Want to know more? Check out our special events page, where you can find all our coverage of COP29, including stories and videos, explainers and our newsletter.

    MIL OSI United Nations News

  • MIL-OSI China: China expands silver tourism train services to cater to growing elderly travel market

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

    China expands silver tourism train services to cater to growing elderly travel market

    BEIJING, Feb. 12 — As the sun rose over the snow-capped peaks of the Qinling Mountains, a group of silver-haired retirees eagerly boarded a Silk Road-themed tourism train in Xi’an, the capital of northwest China’s Shaanxi Province.

    For the next three days, these seniors embarked on a leisurely journey through the picturesque landscapes of central China, relaxing in hot springs and savoring local delicacies, traveling on one of many specialized tourism trains that are revolutionizing travel for China’s growing elderly population.

    On Tuesday, nine Chinese government agencies and state-owned enterprises, including the Ministry of Commerce (MOC) and the Ministry of Culture and Tourism, unveiled an action plan to expand and improve senior-friendly tourism train services, in the latest bid to create more inclusive and enjoyable travel experiences for the elderly.

    The initiative aims to enrich the tourism market, promote services consumption and cater to the growing demand for elderly-friendly travel options. It plans to create a nationwide network of specialized trains catering to older travelers by 2027, with over 100 designed routes and 2,500 scheduled trips annually, according to a press conference held later on Tuesday.

    The concept of senior-focused rail travel has been gaining momentum across China. According to China Railway Qinghai-Xizang Group Co., Ltd., over 77 percent of passengers on its special tourism trains have been aged 55 or above in recent years.

    A 15-day railway tour to the Xinjiang Uygur Autonomous Region has proved particularly popular, allowing seniors to explore the vast region’s diverse landscapes and cultural heritage in comfort. “Compared to self-drive tours, railway tours cut costs, save time and conserve energy, making them very suitable for elderly travelers,” 61-year-old Wang Zhanqi, who hails from Qinghai Province and took the Xinjiang railway tour last year, told Xinhua.

    He particularly enjoyed photographing the winding streets and traditional architecture in the ancient city of Kashgar, and sampling water from Karez wells, which collect the melted ice and snow from the Tianshan Mountains.

    Shaanxi’s Silk Road train, capable of carrying over 200 passengers per trip, is equipped with senior-friendly features like wide beds, temperature control systems and emergency call buttons. The train also boasts such entertainment facilities as karaoke rooms and mahjong tables, creating a lively and social atmosphere for its passengers.

    These specialized trains provide more than just transportation, offering comprehensive services tailored to the needs of older travelers. Many feature onboard medical staff, health monitoring equipment and specially designed meals. The popular Panda Express service, which departs from Sichuan Province, includes niche cultural activities such as ethnic-style welcome ceremonies and traditional performances, adding a level of cultural immersion to an already distinctive journey.

    “We strive to ensure a safer, more comfortable travel experience for the elderly,” said Yang Tao, general manager of Xi’an Railway International Travel Service Co., Ltd. “Silver-haired tourists generally have strong purchasing power and are inclined to buy handicrafts.”

    The economic potential of this market is substantial. According to a recent blue paper on China’s silver economy, the sector is currently valued at 7 trillion yuan (about 976 billion U.S. dollars), accounting for about 6 percent of the country’s GDP, with tourism being a key growth area.

    Elderly adults in China had amassed wealth totaling 78.4 trillion yuan by 2023, according to the China National Committee on Aging. And the overall silver economy is projected to reach 30 trillion yuan by 2035, which would represent 10 percent of China’s GDP.

    Recognizing the increasing purchasing power and travel aspirations of China’s elderly population, the action plan released on Tuesday outlines a series of measures to develop the sector further, including measures to expand services offerings, develop themed routes, and enhance medical and senior care services on trains.

    Measures will be taken to upgrade the trains so that they are more age-friendly, green and comfortable, which will be supported by China’s large-scale equipment upgrade and consumer goods trade-in programs, and additional measures will be implemented to tailor themed travel routes and products for seniors.

    Highlighting the integration of health care services into senior tourism trains, the action plan notes that medical professionals will be stationed on board, and medical expenses incurred during travel will be eligible for cross-regional medical insurance settlement, simplifying the claims process for elderly passengers.

    The plan also advocates improved coordination between tourism trains and scenic areas, encouraging local tourist destinations to offer tailored services such as reservations, green channels, transportation connections and dedicated reception facilities for senior travelers.

    The action plan aims to create a comprehensive national network of senior-friendly tourism trains by 2027, with established service standards and recognizable brand identities.

    These specialized train services will utilize off-peak travel periods to avoid conflicting with regular passenger services, ensuring that the trains operate efficiently without disrupting the broader transportation system, MOC official Kong Dejun said at the press conference.

    From onboard medical care to senior-friendly meals and entertainment, silver tourism trains are more than a mode of transport: they are redefining what it means to travel in one’s golden years. Analysts note that China’s railways, already arteries of economic development, are poised to enrich the lives of the nation’s growing elderly population.

    MIL OSI China News

  • MIL-OSI: Invitation to Aktia’s investor event on 27 February 2025

    Source: GlobeNewswire (MIL-OSI)

    Aktia Bank Plc
    Press Release
    12 February 2025 at 7.45 a.m.

    Invitation to Aktia’s investor event on 27 February 2025

    Aktia invites investors, analysts, and media representatives to its investor event on 27 February 2025. The event will begin at 12.30 p.m. (EET) and end approximately at 2.30 p.m.

    During the investor event, CEO Aleksi Lehtonen, together with other members of Aktia’s Executive Committee, will provide updates on the company’s strategic priorities, business operations and financial targets. The event will be held in English.

    The investor event will take place at Kulttuurikasarmi in Helsinki, located at Narinkkatori 2. A light lunch will be served at 12.00 p.m., prior to the event. After the event, coffee will be served, and participants will have the opportunity to meet Aktia’s management. To attend in person, please register by 20 February 2025.

    The investor event can also be viewed live as a webcast at 12.30 p.m. To attend the webcast, please register by 26 February 2025. Attendees will have the opportunity to ask questions to Aktia’s management during the event.

    Please, register here: https://aktia.events.inderes.com/2025-investor-event.

    The presentation material will be available on Aktia’s website www.aktia.com before the event. A recording of the event will also be available afterwards on Aktia’s website.

    Aktia Bank Plc

    Further information:
    Oscar Taimitarha, Director, Investor Relations, tel. +358 40 562 2315, ir (at) aktia.fi

    Distribution:
    Nasdaq Helsinki Ltd
    Mass media
    www.aktia.com

    Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 850 people around Finland. Aktia’s assets under management (AuM) on 30 September 2024 amounted to EUR 14.3 billion, and the balance sheet total was EUR 12.0 billion. Aktia’s shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.

    The MIL Network

  • MIL-OSI: WithSecure Financial Statement Release 1 January – 31 December 2024: Strong growth in Cloud Protection for Salesforce, improving profitability and cash flow, divestment of Cyber security consulting

    Source: GlobeNewswire (MIL-OSI)

    WithSecure Corporation, Financial Statement Release 1 January – 31 December 2024, 12 February 2025 at 8.00 EET

    WithSecure Financial Statement Release 1 January – 31 December 2024: Strong growth in Cloud Protection for Salesforce, improving profitability and cash flow, divestment of Cyber security consulting

    Highlights of October – December 2024 (“fourth quarter”)

    • Annual Recurring Revenue (ARR)1 for Elements Cloud products and services2 increased by 6% to EUR 83.3 million (EUR 78.4 million)
    • Elements Cloud ARR increase from previous quarter was 2%
    • Net Revenue Retention for Elements Cloud was 99%
    • Revenue for Elements Cloud increased by 9% to EUR 21.5 million (EUR 19.7 million)
    • ARR for Cloud Protection for Salesforce increased by 52% to EUR 12.8 million (EUR 8.4 million)
    • Cyber security consulting revenue declined by 15% to EUR 8.6 million (EUR 10.2 million). Cyber security consulting divestment agreement was signed in January 2025. Business is reported as Discontinued operations. A goodwill impairment of EUR 13 million was recognized in the fourth quarter to reflect the impact of the divestment
    • Adjusted EBITDA (Continuing and discontinued operations) for WithSecure was EUR 2.4 million (EUR 0.2 million)
    • Operative cash flow of the fourth quarter was EUR 7.7million (EUR 2.7 million) 
    1. Annual recurring revenue (ARR) of cloud products is calculated by multiplying monthly recurring revenue of last month of quarter by twelve.  Monthly recurring revenue includes recognized revenue within the month excluding non-recurring revenue
    2. Elements Cloud includes Elements Cloud portfolio software and services as well as the managed services

    Highlights of January – December 2024

    • Revenue for Elements Cloud products and services increased by 9% to EUR 83.3 million (EUR 76.1 million)
    • CPSF revenue increased by 14% to EUR 9.4 million (EUR 8.3 million)
    • Cyber security consulting revenue declined by 3% to EUR 32.3 million (EUR 33.4 million)
    • Adjusted EBITDA (Continuing and discontinued operations) for WithSecure was EUR 3.1 million (EUR -16.1 million)

    Outlook for 2025

    Annual Recurring Revenue (ARR) for Elements Cloud products and services will grow by 10-20% from the end of 2024.
    At the end of 2024, Elements Cloud ARR was EUR 83.3 million.

    Elements Company segment’s Adjusted EBITDA will be 3-7% of revenue.

    Annual Recurring Revenue (ARR) for Cloud Protection for Salesforce (CPSF) will grow by 20-35% from the end of 2024.
    At the end of 2024, CPSF ARR was EUR 12.8 million.

    Cyber security consulting business will be divested in 2025. Elements company and CPSF will have their own guidance going forward. Both are recurring, subscription-based businesses, which is reflected in the new guidance.

    Medium-term financial target (for Elements Company segment)

    Over the next three years (2025-2027), WithSecure will become a “Rule of 30+” company.

    The components of the target are

    • Annual revenue growth as percentage
    • Adjusted EBITDA as percentage of revenue

    WithSecure is targeting to reach a sum of the components that exceeds 30.

    Figures in this release are unaudited. Figures in brackets refer to the corresponding period in the previous year, unless otherwise stated. Percentages and figures presented may include rounding differences and might therefore not add up precisely to the totals presented.

    CEO Antti Koskela

    In the last quarter of 2024, WithSecure Elements Cloud ARR grew by 6% from previous year to EUR 83.3 million (EUR 78.4 million). Elements Cloud revenue grew by 9% to EUR 21.5 million (EUR 19.7 million). Cloud Protection for Salesforce, reported as a separate segment, performance was strong, ARR grew by 52% to EUR 12.8 million (EUR 8.4 million).

    In the Elements Company, Elements software continued to perform with a strong year-on-year growth. In the Managed services and Co-security, revenue declined slightly from the fourth quarter of 2023, due to the customer churns reported in the quarter and earlier in 2024. Of the geographic regions, Elements Cloud ARR and revenue decreased slightly in UK and North America, mainly impacted by the Managed services customer churns during the year 2024. In all other regions, a steady growth of cloud ARR and revenue continued. December revenue includes a higher than customary volume of discounts, timing of which is partly dependent on the customers. Due to the timing issues, the Cloud ARR growth was negatively impacted by approximately 3 percentage points. Our intention is to review and improve the recognition process to avoid ARR volatility caused by timing in the future. 

    In January 2025, our Elements Identity Security reached General Availability. It will increase protection of the users from business email compromise attacks and provide easy-to-use identity response features. Two significant product recognitions were received at the end of 2024. We were identified as one of 15 global vendors in the 2024 Gartner® Magic Quadrant™ for Endpoint Protection Platforms3, recognising our ability to execute and completeness of vision. In the 2024 MITRE ATT&CK® Evaluations, our Endpoint Detection and Response solution set new standards for detection-to-alert ratios, reinforcing our position as a European mid-market leader in cyber security.

    Elements Company Adjusted EBITDA in the fourth quarter was EUR 1.5 million (EUR -1.0 million). Full WithSecure Adjusted EBITDA of EUR 2.4 million (EUR 0.2 million) in the fourth quarter shows that our continuous work on improving profitability is giving results despite some lower revenue in 2024 than planned.

    In Cloud Protection for Salesforce (CPSF), systematic efforts in the past year to improve sales efficiency are generating strong results. ARR grew by 52% year-on-year to EUR 12.8 million (EUR 8.4 million). The growth is driven by both new customers and expansions to existing customers, while the customer churn remained at a controlled level. We continue to develop the CPSF as an independent business inside WithSecure, while keeping the strategic review options open.

    On 23 January 2025, we signed an agreement intending to divest our Cyber security consulting business to Neqst, a Swedish investment firm focusing exclusively on technology and technology-enabled companies. In the segment reporting, consulting is presented according to the previously applied calculation principles. In other parts of the financial reporting, consulting result is included in the result of discontinued operations. Cyber security consulting revenue declined by 15% to EUR 8.6 million (EUR 10.2 million). Adjusted EBITDA of the fourth quarter was EUR 0.9 million (EUR 2.0 million).

    After reaching some important milestones during the year, we are confidently heading for a new year of profitable growth. I would like to thank WithSecure personnel, partners, customers and other stakeholders for their great collaboration in the past year and going forward.

    Financial performance

    (mEUR) 10-12/2024 10-12/2023 Change % 1-12/2024 1-12/2023 Change %
    Continuing operations            
    Revenue 29.9 28.0 7% 116.0 109.9 6%
    Cost of revenue -5.9 -5.7 3% -23.4 -23.1 1%
    Gross Margin 24.0 22.3 8% 92.6 86.8 7%
    % of revenue 80.4 % 79.7 %   79.8 % 79.0 %  
    Other income, adjusted1 0.4 0.4 11% 2.0 1.4 41%
    Operating expenses1 -23.0 -24.3 -5% -92.6 -103.1 -10%
    Sales & Marketing -12.2 -13.1 -7% -47.9 -57.2 -16%
    Research & Development -8.5 -8.8 -3% -35.0 -36.3 -4%
    Administration -2.3 -2.4 -5% -9.7 -9.5 2%
    Adjusted EBITDA2 1.4 -1.6 188% 2.0 -14.8 113%
    % of revenue 4.7 % -5.7 %   1.7 % -13.5 %  
    Items affecting comparability (IAC)            
    Other items 0.0 -1.0 99% -1.0 -1.4 33%
    Divestments 0.1 0.0 0% 1.2 1.4 10%
    Restructuring -0.1 -4.5 99% -1.1 -8.9 87%
    Costs under TSA 0.0 -1.4 100% 0.0 -6.9 100%
    Income for costs under TSA 0.0 1.4 100% 0.0 6.9 100%
    EBITDA 1.4 -7.2 120% 1.1 -23.8 105%
    % of revenue 4.7 % -25.6 %   1.0 % -21.6 %  
    Depreciation & amortization, excluding PPA3 -2.0 -2.5 -19% -9.0 -9.5 -6%
    PPA amortization -0.5 -0.6 -17% -2.2 -2.4 -7%
    EBIT -1.1 -10.2 89% -10.1 -35.7 72%
    % of revenue -3.7 % -36.6 %   -8.7 % -32.5 %  
    Adjusted EBIT2 -0.6 -4.1 85% -7.0 -24.3 71%
    % of revenue -2.0 % -14.5 %   -6.0 % -22.1 %  
    Discontinued operations            
    Revenue 8.3 10.0 -17% 31.4 32.9 -5%
    Adjusted EBITDA2 1.0 1.8 -45% 1.1 -1.3 187%
    % of revenue 12.0 % 18.1 %   3.6 % -4.0 %  
    Items affecting comparability (IAC)            
    Divestments 1.1     1.1    
    EBIT -13.6 1.6 -927% -29.3 -8.2 -258%
    % of revenue -164.1 % 16.5 %   -93.6 % -24.9 %  
    Combined operations            
    Revenue 38.1 38.0 0% 147.4 142.8 3%
    Adjusted EBITDA2 2.4 0.2 1070% 3.1 -16.1 119%
    % of revenue 6.3 % 0.5 %   2.1 % -11.3 %  
    Earnings per share, (EUR)4 -0.08 -0.07 -25% -0.22 -0.23 5%
    Deferred revenue       67.7 66.9 1%
    Cash flow from operations before financial items and taxes 7.7 2.7 191% 2.1 -19.9 110%
    Cash and cash equivalents       27.3 36.6 -25%
    ROI, % -52.3 % -27.5 % -90% -34.1 % -30.5 % -12%
    Equity ratio, %       59.1 % 73.3 % -19%
    Gearing, %       0.4 % -22.2 % 102%
    Personnel, end of period       961 1,087 -12%

    1. Excluding Items Affecting Comparability (IAC) and depreciation and amortization. In 2023 excludes also costs of services provided to F-Secure under TSA and equivalent income charged for TSA services. 

    2. Adjustments are material items outside the normal course of business associated with acquisitions, integration, restructuring, gains or losses from sales of businesses and other items affecting comparability. For reconciliation and a breakdown of adjusted costs, see Note 6 (Reconciliation of alternative performance measures)

    3. Amortization of intangible assets from business combinations (PPA, purchase price allocation, related amortizations). 

    4. Based on the weighted average number of outstanding shares during the period 175 986 422 (1-12/2024).

    Events after period-end
    After the end of the financial year, on 23 January 2025, WithSecure announced the sale of its Cyber security consulting business to Swedish investment firm Neqst. The transaction is executed by the sale of shares of the parent company of a to-be-established WithSecure cyber security consulting group, to which the consulting business will be transferred prior to the completion of the transaction. As a result of the agreement, total of approximately 250 employees located in Finland, UK, Sweden, Denmark, Singapore, Italy, and US are expected to transfer to the buyer.

    Additional information
    This is a summary of WithSecure’s Financial Statement Release 1 January – 31 December 2024. The full report is a PDF file attached to this stock exchange release. Full report is also available on the company website.

    Webcast
    WithSecure’s CEO Antti Koskela and CFO Tom Jansson will present the results in a webcast on 12 February starting at 14.00 EET. The webcast will be held in English and can be accessed at

    https://withsecure.events.inderes.com/q4-2024

    Questions in written format are requested in the webcast portal. Presentation material and the webcast recording will be available on the company website

    Materials | Investor Relations | WithSecure™

    Financial calendar
    During the year 2025, WithSecure Corporation will publish financial information as follows:

    • 25 April 2025: Interim Report for January–March 2025
    • 16 July 2025: Half-Year Report for January–June 2025
    • 22 October 2025: Interim Report for January–September 2025

    WithSecure observes at least a three-week (21 days) silent period prior to publication of financial reports, during which it refrains from engaging in discussions with capital market representatives or the media regarding WithSecure’s financial position or the factors affecting it.

    The Annual General Meeting is scheduled for Tuesday, 18 March 2025. The Board of Directors will convene the meeting.

    Contact information
    Tom Jansson, CFO
    WithSecure Corporation

    Laura Viita
    VP, Controlling, investor relations and sustainability
    WithSecure Corporation
    +358 50 487 1044
    investor-relations@withsecure.com

    Attachment

    The MIL Network

  • MIL-OSI: ABN AMRO Bank posts net profit of EUR 397 million in Q4 2024

    Source: GlobeNewswire (MIL-OSI)

    ABN AMRO Bank posts net profit of EUR 397 million in Q4 2024

    12 February 2025

    Q4 Key messages

    • Good finish to the year: Q4 net profit of EUR 397 million, supported by continued high net interest income and fee income
    • Strong result in 2024: Net profit of EUR 2.4 billion and a return on equity of 10.1%
    • Continued mortgage portfolio growth: Increase of EUR 1.1 billion in Q4 and full-year growth of over EUR 5 billion, supported by an increase in clients
    • Net interest income (NII) further improved: Q4 benefited from higher Treasury result, resulting in NII of EUR 6.5 billion for the full year. Expected NII for 2025 between EUR 6.2 and 6.4 billion
    • Continued fee growth: Fee income increased compared to the previous quarter, resulting in fee growth for the year of over 7%, driven by better performance in all client units
    • Costs remain under control: Costs for the full year, excluding large incidentals, in line with guidance at EUR 5.3 billion. For 2025, costs are expected to be broadly flat
    • Solid credit quality: Impairments of EUR 9 million in Q4, reflecting increases in individually provisioned client files. Net impairment releases of EUR 21 million for the year
    • Strong capital position: Basel III CET1 ratio of 14.5% and Basel IV CET1 ratio estimated at a similar level
    • Final dividend of EUR 0.75 per share proposed

    Robert Swaak, CEO:

    “ABN AMRO delivered another strong full-year result, with a net profit of EUR 2.4 billion for 2024 and a return on equity of over 10%. The year saw further growth in our net interest income and fee income. With the Dutch mortgage market rebounding during 2024, we managed to increase our market share for new production from 16% to 19%. In 2024, we also managed to grow the corporate loan book in our transition themes; digital, new energies and mobility. Our underlying cost base was in line with our guidance of EUR 5.3 billion and our solid credit quality led to net impairment releases. We continued to execute on our strategy of being a personal bank in the digital age. Furthermore, our sustainability efforts were rewarded with our return to the S&P Global Dow Jones Sustainability Index Europe.

    With almost half the global population holding elections, 2024 was an exceptional year. We expect that the geopolitical ramifications and economic impact of these elections will be felt in the coming years. The ECB lowered interest rates a number of times as inflation subsided and Eurozone GDP growth was slow. The growth of the Dutch economy was muted during 2024 due to lower exports and business investments, while inflation remained elevated compared to the European average. Domestic demand grew driven by an increase in wages and house prices increased by almost 9% during the year.

    We were again able to grow our mortgage book in the fourth quarter with EUR 1.1 billion. Our corporate loan book decreased in Q4 largely reflecting more active capital allocation and steering. We transferred credit risk on a portfolio of corporate loans and decided to materially reduce our international Asset Based Finance activities in Germany and the United Kingdom.

    Our fourth quarter financial results were solid, with a net profit of EUR 397 million. Net interest income increased to EUR 1,668 million, reflecting a strong Treasury result. Fee income increased again this quarter, up 11% on the same quarter last year, with all client units contributing to the growth. Underlying costs rose during the fourth quarter, as was expected given the additional vacancies that were filled.

    Our solid credit quality and benign economic circumstances led to another quarter of very limited impairments of EUR 9 million. Risk-weighted assets decreased by EUR 3.0 billion, largely reflecting business developments including capital steering and data quality improvements. These factors, combined with the increase of CET1 capital during the quarter, resulted in the Basel III capital ratio rising to 14.5%. We made progress with the implementation of Basel IV and now estimate the Basel IV capital ratio to be at a similar level as our Basel III capital ratio. We will provide an update on the outcome of our capital assessment when publishing our Q2 results.

    In 2020, we launched our current strategy: A personal bank in the digital age. Since then, we have made significant progress on the three strategic pillars that define the crucial focus areas for creating value for our key stakeholder groups; clients, shareholders, colleagues and society as a whole.

    We have continued investing in our customer experience, focusing on attractive segments where we can grow by bringing convenience into the daily lives of our clients and expertise where it matters. We are making a significant investment in Germany with the intended acquisition of Hauck Aufhäuser Lampe, a private bank with a long standing history, positioning ABN AMRO as a leading private bank in the German market. Our Dutch retail bank provides all services and products through online channels, supported by a network of 25 retail branches. For those clients that need active support with daily banking tasks, we doubled our ‘Help with Banking’ advisers to 200 during the year. We are continuing our efforts to improve our client services and product offering which is reflected in our improved Net Promoter Score (NPS) compared to last year within all client units. We also launched our new brand promise ‘For every new beginning’ to appeal to the entrepreneurial spirit of our clients and highlight the expertise that we can offer. We have welcomed the 10 millionth active user of Tikkie, our payment request application. Its success has even led to the word ‘tikkie’ being included in the Dutch dictionary. More and more businesses are now turning to Tikkie for invoicing, solidifying our leading position in peer-to-peer payments.

    We have continued embedding sustainability in our operations and the asset volume of client loans with a sustainability component (including mortgages and corporate loans) and ESG & impact investments rose from 34% to 37% in 2024. We remain focused on the decarbonisation of our loan portfolio. Additional targets for passenger cars, mortgages, as well as the upstream and midstream part of our oil and gas portfolio will be disclosed in our integrated annual report. Related to our aim to halt and reverse biodiversity loss, we have added insurance products for farmers who reduce their use of chemical pesticides. Other developments in the fourth quarter included the Sustainable Impact Fund’s acquisition of a stake in Urban Mine, a leader in sustainable construction and concrete recycling, and the pilot launch of the Human Rights Remedy Mechanism, which allows individuals to raise concerns about human rights violations linked to our corporate clients.

    During 2024, we continued to allocate significant resources to making our bank future proof. We maintained our leading position in cyber resilience, as evidenced by external parties like BitSight. We added further use cases of Gen-AI in the fourth quarter with the introduction of an AI chatbot for Tikkie and a voicebot for incoming calls from our credit card clients. This will further build on our digital product experience and client contact, for which we are already externally recognised as the digital leader in the Dutch banking sector.

    There are multiple complex and demanding projects running in parallel in relation to changes in the regulatory environment, and we made significant progress across the board during the year. We are in the final phase of simplifying our model landscape while at the same time finalising the implementation of Basel IV. Furthermore, we are continuously refining our AML processes, and are implementing CSRD and other sustainability-related regulations in our reporting. These programmes will continue to impact parts of our organisation, despite the investments in additional change capacity that we made during the year.

    In January 2025, we announced that Marguerite Bérard is the intended new CEO of ABN AMRO. Following regulatory approval, she will be appointed by the Supervisory Board after being introduced to the AGM in April. I am very pleased with the nomination of Marguerite. In the short time that I have had the pleasure of getting to know her, I have become impressed by her inspiring personality and deep knowledge of the banking sector. I am confident that she will successfully lead the bank forward, building on the strong foundations that we have in place.

    As I look back, I am proud of what ABN AMRO has achieved and I value the dedication and commitment that clients, shareholders and colleagues have shown to this iconic Dutch institution. I am confident that ABN AMRO will continue banking for better, for generations to come.

     

    Key figures and indicators
     (in EUR millions)

    Q4 2024 Q4 2023 Change Q3 2024 Change
    Operating income 2,240 2,041 10% 2,253 1%
    Operating expenses 1,614 1,462 10% 1,334 21%
    Operating result 626 580 8% 920 -32%
    Impairment charges on financial instruments 9 -83   -29  
    Income tax expenses 220 117 88% 259 -15%
    Profit/(loss) for the period 397 545 -27% 690 -42%
               
    Cost/income ratio 72.0% 71.6%   59.2%  
    Return on average Equity 6.2% 9.5%   11.6%  
    CET1 ratio1 14.5% 14.3%   14.1%  

    This press release is published by ABN AMRO Bank N.V. and contains inside information within the meaning of article 7 (1) to (4) of Regulation (EU) No 596/2014 (Market Abuse Regulation).

    Note to editors, not for publication:
    For more information, please contact

    ABN AMRO Press Office: Jarco de Swart, E-mail: pressrelations@nl.abnamro.com, phone number: +31 (0)20 6288900.

    ABN AMRO Investor Relations: John Heijning, E-mail: investorrelations@nl.abnamro.com, phone number +31 (0)20 6282282.


    1 Capital ratio for Q3 2024 are pro-forma, including 50% of the net profit. For more information about the ratio, please refer to the Capital management section in our quarterly report.

    Attachments

    The MIL Network

  • MIL-OSI: WithSecure Corporation’s Annual Report for 2024 has been published

    Source: GlobeNewswire (MIL-OSI)

    WithSecure Corporation, Stock Exchange Release, 12 February 2025, 8:01 EET

    WithSecure Corporation’s Annual Report for 2024 has been published

    WithSecure Corporation’s Annual Report for 2024 has been published. The report is attached to this release, and it is available on the company website: Investors | Cyber Security Solutions | WithSecure™.

    The Annual Report includes the Board of Directors’ report and Financial Statements, Corporate Governance Statement, and Remuneration Report. Board of Directors’ report includes a Sustainability Report prepared in accordance with the Corporate Sustainability Reporting Directive (CSRD) and the relevant Finnish legislation.

    The Annual Report is available in Finnish and English.

    In accordance with the European Single Electronic Format (ESEF) reporting requirements, WithSecure has published the Board of Directors’ report and Financial Statements as an XHTML file. In line with the ESEF requirements, the primary statements of the consolidated financial statements have been labelled with XBRL tags, and the notes to the financial statements with XBRL block tags. The audit firm PricewaterhouseCoopers Oy has provided an independent auditor’s reasonable assurance report on WithSecure’s ESEF Financial Statements in accordance with ISAE 3000 (Revised).

    Contact information:

    Laura Viita
    VP, Controlling, investor relations and sustainability
    WithSecure Corporation
    +358 50 487 1044
    investor-relations@withsecure.com

    Attachments

    The MIL Network

  • MIL-OSI: Aktia Bank Plc: IT-related one-off items burden the result in the fourth quarter 2024, but do not affect comparable result

    Source: GlobeNewswire (MIL-OSI)

    Aktia Bank Plc
    Insider information
    12 February 2025 at 7.30 a.m.

    Aktia Bank Plc: IT-related one-off items burden the result in the fourth quarter 2024, but do not affect comparable result

    Aktia Bank Plc continues to invest in and upgrade its modern core banking system, which was commissioned in 2017. In connection with the system development work, Aktia has reassessed the asset values and depreciation periods of existing IT systems as of 31 December 2024. The assessment leads to an impairment of IT-related intangible assets of EUR 25.0 million as well as expensed IT licenses of EUR 1.4 million. The majority of the impairments is related to the core banking system.

    The one-off items do not affect Aktia’s comparable result and have only a marginal impact on Common Equity Tier 1 capital (CET1).

    The Financial Statement Release for 2024 will be published on 12 February 2025 at 8.00 a.m.

    Aktia Bank Plc

    Further information:
    Oscar Taimitarha, Director of Investor Relations, tel. +358 40 562 2315

    Distribution:
    Nasdaq Helsinki Oy
    Mass media
    www.aktia.com

    Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 850 people around Finland. Aktia’s assets under management (AuM) on 30 September 2024 amounted to EUR 14.3 billion, and the balance sheet total was EUR 12.0 billion. Aktia’s shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.

    The MIL Network

  • MIL-Evening Report: Politics with Michelle Grattan: David Littleproud on US tariffs, a government-owned Rex, and the Nationals’ identity

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    With the election only months away, the Labor government finds itself suddenly battling with the Trump administration for an exemption from new US tariffs on steel and aluminium.

    The opposition has supported the effort, but it also claims a Coalition government would be better place to deal with Donald Trump.

    Joining us on this podcast, Nationals leader David Littleproud says if Labor fails to get an exemption on the tariffs, a Dutton government would try again:

    Of course we will and I think that the relationship that Peter Dutton had and still has in Washington will play very much towards that. In fact, I was in Washington with Peter in July last year and so he can walk the halls of Washington with authority and confidence. And I think it’s important that we want this solved and it doesn’t matter who’s in power. This is team Australia, and we’ve got to have a bipartisan approach and I think Pete has shown that leadership.

    On net zero, while Littleproud firmly backs the target as in Australai’s national interest, he also says if the world walked away from it, so would we.

    What everyone’s trying to do is protect regional Australia. But, just so everyone appreciates, if we’re not signed up to net zero by 2050, the people are hurt the most are the people in regional Australia, our farmers and our miners, because if we don’t sign up to what the rest of the world has, the world gets to impose on us a border adjustment mechanism. That’s a tariff and that means we get less for what we produce in regional Australia.

    Now if the world changes and walks away from net zero, then we walk away with it. But we’re not the United States, we’re not the biggest economy in the world. You got to understand your place in the world, and you’ve got to understand the unintended consequences.

    The government this week announced it would be willing to take over Rex Airlines if it can’t be sold. Littleproud is sceptical:

    Well, I think we’ve spent over $130 million of Australian taxpayer’s money and don’t have a lot to show for it. I think what we’ve got to also look at is that Rex was a viable regional airline before they had a dalliance into competing with Qantas and Virgin in the golden triangle between Brisbane, Sydney and Melbourne. They couldn’t compete and instead of spending money on that, they should have upgraded their fleet.

    The government has wasted enough time. They should open up conversation with the broader regional aviation sector, which they haven’t done, to find a solution, whether that be one in totality of a purchaser for Rex or whether that be a carve out of players and with policy levers is being pulled, rather than the Australian taxpayer having to cut the check in entirety. So I think we haven’t exhausted all the options.

    On the coming election campaign, Littleproud stresses the closeness between the Nationals and the Liberals, rather than seeking to emphasise a separate Nationals’ pitch.

    Peter and I, I think, have the tightest coalition that we’ve ever had. There’s not a piece of paper between us. We’re literally joined at the hip and our campaigns will complement one another and in fact, they’ll intertwine in many places. I think that’s important that the people of Australia understand that the only coalition that they can trust to form government is the Nationals and Liberals, not Labor, Greens and teals – that that is the only coalition that’ll give them stability, not chaos.

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

    ref. Politics with Michelle Grattan: David Littleproud on US tariffs, a government-owned Rex, and the Nationals’ identity – https://theconversation.com/politics-with-michelle-grattan-david-littleproud-on-us-tariffs-a-government-owned-rex-and-the-nationals-identity-249708

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on February 12, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 2,50,000
    Total amount of bids received (in ₹ crore) 1,93,865
    Amount allotted (in ₹ crore) 1,93,865
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.26
    Partial Allotment Percentage of bids received at cut off rate (%) N.A.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2132

    MIL OSI Economics

  • MIL-Evening Report: A new public statue of Archie Roach and Ruby Hunter shows a bright future for Australian monuments

    Source: The Conversation (Au and NZ) – By Bronwyn Carlson, Professor, Critical Indigenous Studies and Director of The Centre for Global Indigenous Futures, Macquarie University

    The Conversation, CC BY-SA

    Aboriginal and Torres Strait Islander readers are advised this article contains names and images of deceased people.


    Colonial commemorations such as the statues of James Cook or Lachlan Macquarie have become the focus of much contestation, particularly in the annual lead up to January 26.

    As authors of the book Monumental Disruptions: Aboriginal people and colonial commemorations in so-called Australia, we are often contacted by media to respond to whether colonial statues have a place in modern Australia.

    Such statues create controversy because they often honour people who have dubious histories. Journalist Paul Daley has described such statues as “assorted bastards” who have profited from the dispossession and exploitation of Aboriginal and Torres Strait Islander peoples.

    The problem with many statues is they do not represent a shared history. They either represent colonial figures who have harmed Aboriginal and Torres Strait Islander peoples, or they represent a one-sided perspective that erases the other.

    This year we were asked to respond to a different kind of monument: a statue of music legends Archie Roach and Ruby Hunter, newly erected in the Melbourne suburb of Fitzroy in November 2024.

    An inspirational, unifying force

    Archie Roach, a Gunditjmara (Kirrae Whurrong/Djab Wurrung), Bundjalung senior Elder, songwriter and storyteller sadly died in 2022 aged only 66. Anthony Albanese described him as a “brilliant talent, a powerful and prolific national truth teller”.

    His partner Ruby Hunter was a Ngarrindjeri woman and pioneering singer-songwriter. She was the first Indigenous woman to be signed to a major record label, and sadly died in 2010.

    Both were members of the Stolen Generations – Aboriginal children who were forcibly removed from their families by Australian government authorities as part of the assimilation policy. They met on the street as homeless teenagers.

    Their award-winning music took them around the world together. They performed alongside musical greats such as Tracy Chapman, Paul Kelly and Bob Dylan.

    They have been described as an inspiration to many, and a unifying force who altered the way white Australia saw itself.

    A statue that sits in conversation with community

    The statue of Archie Roach and Ruby Hunter was commissioned by the Yarra City Council in partnership with the Wurundjeri Woi-wurrung Cultural Heritage Aboriginal Corporation and Victorian government.

    The statue was made by local artist Darien Pullen. The surrounding park space was designed by Melbourne-based architect Jefa Greenaway (Wailwan/Kamilaroi) and landscape architect Paul Herzich (Kaurna/Ngarrindjeri).

    Fitzroy’s Atherton Gardens is a culturally significant site that once served as a traditional meeting place. It later became a hub of political activism and resistance for Victoria’s Aboriginal community.

    This monument stands in a place rich with history. It is where Archie and Ruby spent meaningful time with their family, and where Archie was reunited with his biological family.

    Their son, Amos Roach, emphasised the deep cultural significance of the location: “it’s a place of cultural significance because it was a meeting place, it’s an old camp”.

    He also reflected on his personal connection to the park, saying, “I was a parkie baby when I was born … and I still come here”.

    The statue stands at street level, embodying an ongoing presence. They are casual, approachable and engaged, as if in conversation with the community.

    Positioned to invite interaction, the statue forms a dynamic relationship with both the people who pass by and the place it inhabits.

    It is embraced rather than imposed, welcomed and wanted.

    The statue stands at street level, in conversation with the community.
    The Conversation, CC BY-SA

    While these figures are Aboriginal icons, they are also remarkable individuals who made significant contributions to Australia. Their commemoration carries meaning and connection for all.

    Compare it to the Cook statue in Hyde Park on Gadigal Country (Sydney). He is perched high above the observer, arm raised to the heavens in a theatrical “ta-daa”.

    Positioned in a location where the man himself never set foot, the text at the base of the statue? make the historically incorrect allegation that he “DISCOVERED THIS TERRITORY, 1770” – something Cook never personally claimed.

    A shared future

    Rather than erecting monuments to colonial figures who oppressed Aboriginal and Torres Strait Islander peoples, reinforcing a history of injustice and loss, we should instead celebrate a shared vision for the future.

    This vision should be built on recognition, respect and the commemoration of those who have made meaningful contributions to Australia.

    This statue of Archie Roach and Ruby Hunter honours two individuals who, despite being shaped by the very colonial histories commemorated by other monuments, have profoundly enriched contemporary Australia through their resilience, talent and contributions.

    Until recently, commemorations of Aboriginal people were largely confined to the realm of prehistory — portraying them as nameless “Natives” in conflict with settlers, as loyal guides and servants, or as tragic figures labelled “the last of their tribe”.

    Like recent statues commemorating Aboriginal figures such as Pastor Sir Doug and Lady Gladys Nicholls, William Cooper, and William “Bill” Ferguson, this statue brings Aboriginal peoples into the present.

    It is a powerful recognition of their enduring impact in shaping this nation – one that calls for acknowledgement, respect and inclusion from us all.

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

    ref. A new public statue of Archie Roach and Ruby Hunter shows a bright future for Australian monuments – https://theconversation.com/a-new-public-statue-of-archie-roach-and-ruby-hunter-shows-a-bright-future-for-australian-monuments-249484

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Bitget Wallet Integrates Abstract Mainnet to Simplify Onchain Consumer Access

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Feb. 12, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, has integrated the consumer-focused Layer 2 mainnet Abstract and added Abstract DApp zone, providing users with streamlined access to full onchain activities to engage with Abstract ecosystem, including asset bridging, governance participation, and NFT minting, while earning Abstract’s XP rewards and exclusive badges through engagement.

    Users can easily add Abstract mainnet to their Bitget Wallet with a single click and bridge assets seamlessly. Through the Bitget Wallet’s Abstract DApp zone, users can connect wallets, deposit funds, and link social accounts to participate in transactions, governance, and NFT minting. Bitget Wallet simplifies cross-chain interactions by supporting over 100 mainnets, enabling users to manage multichain assets without switching interfaces. Its intuitive design offers a consumer-friendly experience, allowing even first-time users to engage with decentralized applications effortlessly.

    Abstract, developed by Igloo Inc., the team behind Pudgy Penguins, is an Ethereum Layer 2 network designed to simplify blockchain interactions for everyday users. Built with ZKsync and Celestia technologies, it delivers fast, secure transactions and Web2-like usability. Its simplified onboarding process allows users access the network with just an email address, removing the need for seed phrases and promoting mass adoption. As an EVM-compatible zk-rollup powered by ZK Stack, Abstract offers lower fees and faster processing while abstracting onchain complexities.

    Bitget Wallet’s integration with Abstract marks a major step toward reducing the barriers associated with Web3 onboarding. By combining simplified interfaces, cross-chain compatibility, and gamified rewards, Bitget Wallet creates a frictionless and engaging experience for its users. “Our goal is to make decentralized networks as easy to access as traditional apps. This integration brings us closer to that vision by empowering more users to explore Web3 without the usual complexity,” said Alvin Kan, COO of Bitget Wallet.

    For more details, please follow Bitget Wallet on X.

    About Bitget Wallet
    Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, an NFT marketplace and crypto payment. Supporting over 100 blockchains, 20,000+ DApps, and 500,000+ tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users’ assets. Experience Bitget Wallet Lite to start a Web3 journey.

    For more information, visit: XTelegramInstagramYouTubeLinkedInTikTokDiscordFacebook

    For media inquiries, please contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6748355b-7793-4ec5-8f86-595917183872

    The MIL Network

  • MIL-OSI Asia-Pac: President Lai meets Deputy Prime Minister Thulisile Dladla of the Kingdom of Eswatini

    Source: Republic of China Taiwan

    Details
    2025-02-08
    Presidential Office thanks US and Japan for joint leaders’ statement
    On February 7 (US EST), President Donald Trump of the United States and Prime Minister Ishiba Shigeru of Japan issued a 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.” In the statement, the two leaders also “encouraged the peaceful resolution of cross-strait issues, and opposed any attempts to unilaterally change the status quo by force or coercion” and “expressed support for Taiwan’s meaningful participation in international organizations.” Presidential Office Spokesperson Karen Kuo (郭雅慧) on February 8 expressed sincere gratitude on behalf of the Presidential Office to the leaders of both countries for taking concrete action to demonstrate their firm support for peace and stability across the Taiwan Strait and for Taiwan’s international participation. Spokesperson Kuo pointed out that there is already a strong international consensus on the importance of peace and stability in the Indo-Pacific region. The spokesperson emphasized that Taiwan, as a responsible member of the international community, is capable and willing to work together with the international community and will continue strengthening its self-defense capabilities as it deepens its trilateral security partnership with the US and Japan and works alongside like-minded countries to uphold the rules-based international order. The spokesperson said that Taiwan will work toward ensuring a free and open Taiwan Strait and Indo-Pacific region, as well as global peace, stability, and prosperity, as it continues to act as a force for good in the world.

    Details
    2025-02-08
    President Lai’s response to Pope Francis’s 2025 World Day of Peace message  
    President Lai Ching-te recently sent a letter to Pope Francis of the Catholic Church in response to his message marking the 58th World Day of Peace. The following is the full text of the president’s letter to the pope: Your Holiness, In your message for the 2025 World Day of Peace entitled Forgive us our trespasses: grant us your peace, you called for a cultural change that would bring an end to the governance of interpersonal and international relations by a logic of exploitation and oppression and herald true and lasting peace. I wholeheartedly admire and identify with your point of view. Since transitioning from a medical career to politics, I have remained true to my original intentions in the sense that, while a doctor can help only one person at a time, a public servant can simultaneously assist many people in resolving the difficulties affecting their lives. In my inaugural address in May 2024, I pledged that every day of my term, I would strive to act justly, show mercy, and be humble, which accord with the teachings of the Bible. I promised to treat the Taiwanese people as family and prove myself worthy of their trust and expectations. With an unwavering heart, I have accepted the people’s trust and taken on the solemn responsibility of leading the nation forward and building a democratic, peaceful, and prosperous new Taiwan. In this new year, the changing international landscape continues to present many grave challenges to democratic nations around the world. As the Russia-Ukraine war persists, the steady convergence of authoritarian regimes, including China, Russia, North Korea, and Iran, threatens the rules-based international order and severely impacts peace and stability in the Indo-Pacific and the world at large. Your Holiness has stated that war is a defeat for everyone. I, too, firmly believe that peace is priceless and that war has no winners. A high level of consensus has formed in the international community on upholding peace and stability across the Taiwan Strait. The Taiwanese people also maintain an unyielding commitment to safeguarding a way of life that encompasses freedom, equality, democracy, and human rights. Taiwan will continue to spare no effort in preserving regional peace and stability and serving as a pilot for global peace. In your World Day of Peace message, you urged prosperous countries to assist poorer ones. This compassion is truly touching. Taiwan is proactively implementing values-based diplomacy and, under the Diplomatic Allies Prosperity Project, enhancing allies’ development through a range of initiatives. Over many years, Taiwan has accumulated abundant and unique experience of providing foreign assistance. Seeking to foster self-reliance among disadvantaged countries, we have extended genuine support to help alleviate poverty through such avenues as strengthening basic infrastructure, transferring technology, and cultivating talent. In your message, you reminded countries worldwide that assistance should not be merely an isolated act of charity and pointed to the need to devise a new global financial framework so that food crises, climate change, and other challenges could be jointly addressed. I hold this view in high regard. I therefore earnestly hope that international organizations will stop excluding Taiwan for political reasons. Taiwan is willing to shoulder its international responsibilities so that it can contribute and share its valuable experience through many global platforms.  On behalf of the government and people of the Republic of China (Taiwan), I again express our interest in collaborating with the Holy See to advance world peace through concrete action. We also aspire to demonstrate Taiwanese values and the Taiwanese spirit and work together with the Holy See to uphold the core values of justice, democracy, freedom, and peace.  Please accept, Your Holiness, the renewed assurances of my highest consideration, as well as my best wishes for your good health and the continued growth of the Catholic Church.

    Details
    2025-02-08
    President Lai meets former US Vice President Mike Pence
    On the afternoon of January 17, President Lai Ching-te met with former Vice President of the United States Mike Pence. In remarks, President Lai thanked former Vice President Pence for his contributions to the deepening of Taiwan-US relations, noting that he actively helped to strengthen Taiwan-US cooperation and facilitate the normalization of military sales to Taiwan, and did his utmost to deepen the Taiwan-US economic partnership. The president indicated that former Vice President Pence also spoke up for Taiwan on numerous occasions at international venues, backing Taiwan’s international participation. President Lai expressed hope for a stronger Taiwan-US partnership to maintain peace and stability throughout the world, and that the two sides can advance bilateral exchanges in such areas as the economy, trade, and industry. A translation of President Lai’s remarks follows: I am delighted to welcome former Vice President Pence and Mrs. Karen Pence to the Presidential Office. Former Vice President Pence is not only an outstanding political leader in the US, but also a staunch supporter of Taiwan on the international stage. On behalf of the people of Taiwan, I would like to take this opportunity to extend our deepest gratitude to former Vice President Pence for his contributions to the deepening of Taiwan-US relations. Thanks to former Vice President Pence’s strong backing, ties between Taiwan and the US rose to unprecedented heights during President Donald Trump’s first administration. Former Vice President Pence actively helped to strengthen Taiwan-US security cooperation and facilitate the normalization of military sales to Taiwan, helping Taiwan reinforce its self-defense capabilities. He also did his utmost to deepen the Taiwan-US economic partnership. Former Vice President Pence also paid close attention to the military threats and diplomatic isolation faced by Taiwan. He spoke up for Taiwan on numerous occasions at international venues, taking concrete action to back Taiwan’s international participation. We were truly grateful for this. As we speak, China’s political and military intimidation against Taiwan persist. China and other authoritarian regimes, such as Russia, North Korea, and Iran, are continuing to converge and present serious challenges to democracies around the globe. At this moment, free and democratic nations must come together to bolster cooperation. I believe that a stronger Taiwan-US partnership can be an even more powerful force in maintaining peace and stability throughout the world. Former Vice President Pence has previously supported the signing of a trade agreement between Taiwan and the US. Taiwan looks forward to continuing to work with the new US administration and Congress to advance bilateral exchanges in such areas as the economy, trade, and industry. This is the first time that former Vice President Pence and Mrs. Pence are visiting Taiwan, and their visit is significantly meaningful for Taiwan-US exchanges. On behalf of the people of Taiwan, I want to extend a warm welcome. Moving forward, I hope we will jointly realize even more fruitful achievements through Taiwan-US cooperation. Former Vice President Pence then delivered remarks, thanking President Lai for his hospitality on his and his wife’s first visit to Taiwan, saying that it is an honor to be here to reaffirm the bonds of friendship between the people of America and the people of Taiwan, which are strong and longstanding. The former vice president indicated that the American people admire the people of Taiwan and all that has been accomplished in a few short decades for Taiwan to rise to one of the world’s preeminent economic powers and free societies. He said that he is grateful for President Lai’s courageous and bold leadership of Taiwan, and grateful to be able to express the support of the overwhelming majority of the American people for this alliance. Former Vice President Pence indicated that the values shared by Taiwan and the US, including freedom, the rule of law, and respect for human rights, bind us together in a partnership that transcends geographic boundaries and cultures. He then assured President Lai that China’s increasingly aggressive posture in the Taiwan Strait and across the Indo-Pacific, for the values and interests that both sides share, is deeply concerning to the American people. Former Vice President Pence stated that America is a Pacific nation, and is committed to the status quo, adding that they recognize it is China that wants to change the status quo that America, Taiwan, and other allies in the region want to preserve, which has created an environment of extraordinary growth and prosperity. The former vice president concluded by once again thanking President Lai and his team for their gracious hospitality and conveying best wishes to him and the people of Taiwan. Former Vice President Pence then assured President Lai that just as Taiwan will never surrender its freedom, he will continue to be a voice for a strong US-Taiwan relationship in the defense and the benefit of Taiwan, the US, and the free world. Later that day, Vice President Bi-khim Hsiao hosted a banquet for former Vice President Pence and his delegation at Taipei Guest House to thank him for his longstanding friendship and staunch support for Taiwan-US ties.  

    Details
    2025-02-08
    President Lai meets delegation to 60th Inaugural Ceremonies of US president and vice president
    On the morning of January 16, President Lai Ching-te met with Taiwan’s delegation to the 60th Inaugural Ceremonies of the President and Vice President of the United States. In remarks, President Lai stated that democratic Taiwan stands united, working hard to deepen Taiwan-US ties together. He then entrusted the delegation with three missions: to convey best wishes from the people of Taiwan, convey our firm commitment to democracy, and help Taiwan-US relations reach a new milestone. A translation of President Lai’s remarks follows: The 60th Inaugural Ceremonies of the President and Vice President of the US will be held on January 20. I want to thank Speaker Han Kuo-yu (韓國瑜), president of the Legislative Yuan, for accepting my invitation to lead our nation’s representative delegation to the event. I also thank Legislative Yuan Members Ko Chih-en (柯志恩), Wang Ting-yu (王定宇), Ko Ju-chun (葛如鈞), Lee Yen-hsiu (李彥秀), Chen Kuan-ting (陳冠廷), Kuo Yu-ching (郭昱晴), and Chen Gau-tzu (陳昭姿) for joining this visit to the US to attend the inauguration of President Donald Trump and Vice President J.D. Vance. We have gathered together today despite differences in party affiliation because in democratic Taiwan, while parties may compete domestically, when it comes to engagement externally, they stand united and share responsibility, working hard to deepen Taiwan-US ties and strive for the best interests of the nation. We share the value of defending freedom and democracy, and we share the goal of advancing peace and prosperity. Today, we engage with the world together as those from the same country – the Republic of China (Taiwan). In this complex and volatile new international landscape, and as the nation faces difficulties and challenges, I want to stress that in Formosa, there is no hostility that cannot be let go, and no hardship that cannot be overcome. Unity is the most important, and I hope that Taiwan can stand united, because there is true strength in unity. Democratic Taiwan must stand united in engaging with the world and initiate exchanges with confidence. On that ground, I am entrusting this delegation with three key missions. First, convey best wishes from the people of Taiwan. Just last year, Taiwan and the US celebrated the 45th anniversary of the passage of the Taiwan Relations Act. And on May 20, the US sent a senior bipartisan delegation to congratulate me and Vice President Bi-khim Hsiao on our inauguration. As the leader of this cross-party delegation, Speaker Han must clearly convey the well-wishes of the people of Taiwan, congratulate President Trump and Vice President Vance on their inauguration, and wish success to the new administration and prosperity to the US. Second, clearly convey the firm commitment of the people of Taiwan to democracy. The theme of these inaugural ceremonies is “Our Enduring Democracy: A Constitutional Promise.” Taiwan and the US share the universal value of democracy and are staunch allies. I hope that the delegation can faithfully convey the firm commitment to democracy that the people of Taiwan have, which will not change even in the face of authoritarian threats. Taiwan is willing to stand side by side with the US and other members of the democratic community to defend the sustainable development of global democracy and prevent the expansion of authoritarianism. Third, help Taiwan-US relations reach a new milestone. In recent years, Taiwan-US relations have continued to grow, with the first agreement under the Taiwan-US Initiative on 21st Century Trade having formally taken effect last month. This morning, the House of Representatives also passed the US-Taiwan Expedited Double-Tax Relief Act. I hope that the delegation can help Taiwan-US relations reach a new milestone through these exchanges so that our relations continue to grow, our cooperation expands even more, and so that we can achieve even greater success after the new administration takes office. Four years ago, Taiwan’s representative to the US inaugural ceremonies was Vice President Hsiao, who was then our representative to the US. Everyone has a lot to learn from her. I have specially invited everyone here to converse so that you can draw from Vice President Hsiao’s experience and ensure an even smoother visit. Washington, DC was also hit by a rare blizzard recently, and the weather has been very cold, so make sure to stay warm. I am sending everyone off with hand warmers and thermoses so that you can bring some warmth from Taiwan with you on your journey. And I ask that Speaker Han exercise his wisdom to help generate some warmth between the ruling and opposition parties through cooperation, which they can then bring back to Taiwan. Let us unite to give our all for diplomacy so that we can unite to give our all for Taiwan. I wish the delegation a smooth and safe trip, and hope your missions can be carried out successfully. Speaker Han then delivered remarks, stating that it was an honor to be invited by President Lai to organize a delegation to represent our nation at the 60th Inaugural Ceremonies of the President and Vice President of the US in Washington, DC, and express the Republic of China’s sincere and cordial best wishes. The Legislative Yuan’s president has assumed this important task numerous times in the past, he said, not only to represent the government of the Republic of China, but also to take on the mission of conveying the voices of 23 million people. He went on to say that he is honored to take up the baton, lead eight legislators to the US to attend this celebration that will attract global attention, and express sincere best wishes to newly elected President Trump, Vice President Vance, and the new administration’s team. As enjoined by President Lai, he hopes the delegation’s trip will help open a new chapter in Taiwan-US exchanges. Speaker Han stated that the US is the most free and democratic country in the world. He noted that in 1776 in the US Declaration of Independence, founding father Thomas Jefferson propounded the concept of “unalienable rights,” and emphasized that the people have a right to freedom and the pursuit of happiness, democratic ideas that have long been rooted in the people’s hearts. Today, he said, democracy is also embedded in the DNA of Taiwan’s 23 million people, and this hard-won democratic achievement is a result of the concerted efforts of our pioneering predecessors, thinkers, and activists over the past 100 years. Speaker Han stated that during this visit, the Legislative Yuan delegation hopes to convey the voice of Taiwan as a democratic country. Taiwan’s security, he said, is like the four legs of a table: The first leg is defending the Republic of China, the second is defending freedom and democracy, the third is maintaining Taiwan-US relations, and the fourth is maintaining cross-strait peace. The delegation will travel to the US amidst severe cold weather to show that we value our relationship with the US, and our citizens have great hopes and expectations. Speaker Han stated that this will be a cross-party delegation of eight legislators, all of whom have a strong sense of mission. He hopes that all democratic nations will acknowledge Taiwan’s importance, and pay attention to Taiwan’s 23 million people. The delegation, he said, will do its utmost to convey the goodwill and warmth that the people of Taiwan give to each and every one of our good friends.

    Details
    2025-02-08
    President Lai confers decoration on former Lithuanian Foreign Minister Gabrielius Landsbergis
    On the morning of January 14, President Lai Ching-te conferred the Order of Brilliant Star with Special Grand Cordon upon former Minister of Foreign Affairs Gabrielius Landsbergis of the Republic of Lithuania in recognition of his remarkable contributions to deepening Taiwan-Lithuania relations. In remarks, President Lai thanked former Minister Landsbergis for standing firmly with Taiwan and remaining a staunch defender of democratic values, yielding fruitful cooperative results. The president expressed hope that the two countries will engage in even more cooperation and exchanges in such areas as the economy, trade, technology, and culture, and continue to advocate for the values of freedom and democracy so that together we can contribute even more to our nations’ development and to peace and prosperity throughout the world. A translation of President Lai’s remarks follows: Today, by conferring the Order of Brilliant Star with Special Grand Cordon upon former Minister Landsbergis, we recognize his outstanding contributions during his time as foreign minister of Lithuania. On behalf of the people of Taiwan, I thank him for the key role he has played in deepening Taiwan-Lithuania relations. During the COVID-19 pandemic, thanks to the efforts of former Minister Landsbergis, Lithuania was the first European nation to donate vaccines to Taiwan. On that occasion, he stated that “freedom-loving people should look out for each other.” His statement was very moving and left a deep impression on many Taiwanese people. We will never forget it. Former Minister Landsbergis has continued to express the spirit of those words through his concrete actions. With his staunch support, Taiwan and Lithuania have mutually established representative offices. Moreover, our representative office in Lithuania was the first in Europe to incorporate “Taiwan” in its name. As for bilateral cooperation, Taiwan and Lithuania have seen fruitful results in such fields as semiconductors, laser technology, finance, and medicine. Be it overcoming the challenges posed by the pandemic or resisting expanding authoritarianism, former Minister Landsbergis has stood firmly with Taiwan and remained a staunch defender of democratic values. We greatly admire and appreciate his spirit. Today, authoritarian regimes continue to converge, posing threats and challenges to democracies around the world. Taiwan, Lithuania, and other democratic countries must come closer together, drawing on the strength of unity, so as to jointly safeguard freedom and democracy and uphold the rules-based international order. Looking ahead, we hope that Taiwan and Lithuania will engage in even more cooperation and exchanges in such areas as the economy, trade, technology, and culture. Let us continue to advocate for the values of freedom and democracy. Together, we can contribute even more to our nations’ development and to peace and prosperity throughout the world. In closing, I once again thank you, former Minister Landsbergis, for your support and for all that you have done for Taiwan. We welcome you and your wife to visit often. I wish you both a smooth and successful visit in Taiwan, and hope you leave with lasting memories.    Former Minister Landsbergis then delivered remarks, saying that it is a great honor to receive the decoration today. He noted that only partially can he accept the honor, as there have been many people who worked together with him in the ministry and in the whole country who support the people of Taiwan and see the benefit of supporting democracy in Taiwan. He often says that in Lithuania they remember well the fight for their freedom, and just today, he mentioned, he was shown the permanent exhibition in the Presidential Office, where he saw similar pictures of Taiwanese people fighting for democracy. He emphasized that not even one generation has passed since these events took place here in Taipei or similar events took place in Vilnius. Former Minister Landsbergis said that decision-makers in the Lithuanian government are either people who were themselves fighting for freedom, or, as in his case, those who were sitting on the shoulders of parents who were fighting for freedom. So for them, he underlined, freedom, democracy, liberty, and sovereignty are very real concepts that they cherish, not just things read about in a history book. He said that this is the main connector between Lithuania and Taiwan, a feeling of freedom and support for each other. Former Minister Landsbergis stated that in the face of authoritarians who do not wish us prosperity, who do not wish us freedom and future achievements, what he expects from the future is that the friendship, collaboration, and mutual support between Lithuania and Taiwan will inspire others to join in. This, he said, will make other countries not be afraid to support freedom and democracy, and will allow our group of friends to continue to grow. Lithuanian history, the former minister said, is difficult, and a big part of it was fighting for their freedom. He explained that during the 19th century when Lithuania was part of Russia’s empire, they had several revolutions and uprisings with the aim of becoming free, and that they were fighting for that freedom alongside Poland and Belarus. He then applied a phrase that they used in the revolution of 1864 – “for your freedom and ours,” meaning that they will continue to fight for their freedom while helping Taiwan fight for ours. Also in attendance at the ceremony were former Minister Landsbergis’ wife Dr. Austėja Landsbergienė and Lithuanian Representative to Taiwan Paulius Lukauskas.

    Details
    2025-01-01
    President Lai delivers 2025 New Year’s Address
    On the morning of January 1, President Lai Ching-te delivered his 2025 New Year’s Address, titled “Bolstering National Strength through Democracy to Enter a New Global Landscape,” in the Reception Hall of the Presidential Office. President Lai stated that today’s Taiwan is receiving international recognition for its performance in many areas, among them democracy, technology, and economy. In this new year, he said, Taiwan must be united, and we must continue on the right course. The president expressed hope that everyone in the central and local governments, regardless of party, can work hard together, allowing Taiwan sure footing as it strides forward toward ever greater achievements.  President Lai emphasized that in 2025, we must keep firm on the path of democracy, continue to bolster our national strength, make Taiwan more economically resilient, enhance the resilience of supply chains for global democracies, and continue working toward a Balanced Taiwan and generational justice, ensuring that the fruits of our economic growth can be enjoyed by all our people. The president said that Taiwan will keep going strong, and we will keep walking tall as we enter the new global landscape. A translation of President Lai’s address follows: Today is the first day of 2025. With a new year comes new beginnings. I wish that Taiwan enjoys peace, prosperity, and success, and that our people lead happy lives. Taiwan truly finished 2024 strong. Though there were many challenges, there were also many triumphs. We withstood earthquakes and typhoons, and stood firm in the face of constant challenges posed by authoritarianism. We also shared glory as Taiwan won the Premier12 baseball championship, and now Taiwanese people around the world are all familiar with the gesture for Team Taiwan. At the Paris Olympics, Wang Chi-lin (王齊麟) and Lee Yang (李洋) clinched another gold in men’s doubles badminton. Lin Yu-ting (林郁婷) took home Taiwan’s first Olympic gold in boxing. At the International Junior Science Olympiad, every student in our delegation of six won a gold medal. And Yang Shuang-zi’s (楊双子) novel Taiwan Travelogue, translated into English by King Lin (金翎), became a United States National Book Award winner and a tour de force of Taiwan literature on the international level. Our heroes of Taiwan are defined by neither age nor discipline. They have taken home top prizes at international competitions and set new records. They tell Taiwan’s story through their outstanding performances, letting the world see the spirit and culture of Taiwan, and filling all our citizens with pride. My fellow citizens, we have stood together through thick and thin; we have shared our ups and downs. We have wept together, and we have laughed together. We are all one family, all members of Team Taiwan. I want to thank each of our citizens for their dedication, fueling Taiwan’s progress and bringing our nation glory. You have given Taiwan even greater strength to stand out on the global stage. In this new year, we must continue bringing Taiwan’s stories to the world, and make Taiwan’s successes a force for global progress. In 2025, the world will be entering a new landscape. Last year, over 70 countries held elections, and the will of the people has changed with the times. As many countries turn new pages politically, and in the midst of rapid international developments, Taiwan must continue marching forward with steady strides. First, we must keep firm on the path of democracy. Taiwan made it through a dark age of authoritarianism and has since become a glorious beacon of democracy in Asia. This was achieved through the sacrifices of our democratic forebears and the joint efforts of all our citizens. Democracy’s value to Taiwan lies not just in our free way of life, or in the force driving the diverse and vigorous growth of our society. Democracy is the brand that has earned us international trust in terms of diplomacy. No matter the threat or challenge Taiwan may face, democracy is Taiwan’s only path forward. We will not turn back. Domestic competition among political parties is a part of democracy. But domestic political disputes must be resolved democratically, within the constitutional system. This is the only way democracy can continue to grow. The Executive Yuan has the right to request a reconsideration of the controversial bills passed in the Legislative Yuan, giving it room for reexamination. Constitutional institutions can also lodge a petition for a constitutional interpretation, and through Constitutional Court adjudication, ensure a separation of powers, safeguard constitutional order, and gradually consolidate the constitutional system. The people also have the right of election, recall, initiative, and referendum, and can bring together even greater democratic power to show the true meaning of sovereignty in the hands of the people. In this new year, the changing international landscape will present democratic nations around the world with many grave challenges. Russia’s invasion of Ukraine and conflict between Israel and Hamas rage on, and we are seeing the continued convergence of authoritarian regimes including China, Russia, North Korea, and Iran, threatening the rules-based international order and severely affecting peace and stability in the Indo-Pacific region and the world at large. Peace and stability in the Taiwan Strait are essential components for global security and prosperity. Taiwan needs to prepare for danger in times of peace. We must continue increasing our national defense budget, bolster our national defense capabilities, and show our determination to protect our country. Everyone has a responsibility to safeguard Taiwan’s democracy and security. We must gather together every bit of strength we have to enhance whole-of-society defense resilience, and build capabilities to respond to major disasters and deter threats or encroachment. We must also strengthen communication with society to combat information and cognitive warfare, so that the populace rejects threats and enticements and jointly guards against malicious infiltration by external forces. Here at home, we must consolidate democracy with democracy. Internationally, we must make friends worldwide through democracy. This is how we will ensure security and peace. The more secure Taiwan, the more secure the world. The more resilient Taiwan, the sounder the defense of global democracy. The global democratic community should work even closer together to support the democratic umbrella as we seek ways to resolve the war in Ukraine and conflict between Israel and Hamas. Together, we must uphold stability in the Taiwan Strait and security in the Indo-Pacific, and achieve our goal of global peace. Second, we must continue to bolster our national strength, make Taiwan more economically resilient, and enhance the resilience of supply chains for global democracies. In the first half of 2024, growth in the Taiwan Stock Index was the highest in the world. Our economic growth rate for the year as a whole is expected to reach 4.2 percent, leading among the Four Asian Tigers. Domestic investment is soaring, having exceeded NT$5 trillion, and inflation is gradually stabilizing. Export orders from January to November totaled US$536.6 billion, up 3.7 percent from the same period in 2023. And compared over the same period, exports saw a 9.9 percent increase, reaching US$431.5 billion. Recent surveys also show that in 2024, the average increase in salaries at companies was higher than that in 2023. Additionally, over 90 percent of companies plan to raise salaries this year, which is an eight-year high. All signs indicate that Taiwan’s economic climate continues to recover, and that our economy is growing steadily. Our overall economic performance is impressive; still, we must continue to pay attention to the impact on Taiwan’s industries from the changing geopolitical landscape, uncertainties in the global economic environment, and dumping by the “red supply chain.”  For a nation, all sectors and professions are equally important; only when all our industries are strong can Taiwan be strong as a nation. Our micro-, small-, and medium-sized enterprises (MSMEs) are the lifeblood of Taiwan, and the development of our various industrial parks has given Taiwan the impetus for our prosperity. We must carry the spirit of “Made in Taiwan” forward, bringing it to ever greater heights. Thus, beyond just developing our high-tech industry, our Executive Yuan has already proposed a solution that will help traditional industries and MSMEs comprehensively adopt technology applications, engage in the digital and net-zero twin transition, and develop channels, all for better operational structures and higher productivity. Taiwan must continue enhancing its economic resilience. In recent years, Taiwan has significantly increased its investments in the US, Japan, Europe, and the New Southbound countries, and such investment has already surpassed investment in China. This indicates that our efforts in diversifying markets and reducing reliance on any single market are working. Moving forward, we must keep providing assistance so that Taiwan industries can expand their global presence and market internationally from a solid base here in Taiwan. At the same time, Taiwan must use democracy to promote economic growth with the rest of the world. We must leverage our strengths in the semiconductor and AI industries. We must link with democratic countries so that we can together enhance the resilience of supply chains for global democracies. And through international cooperation across many sectors, such as UAVs, low-orbit communications satellites, robots, military, security and surveillance, or biopharmaceuticals, renewable energy technology, new agriculture, and the circular economy, we must keep abreast of the latest cutting-edge technology and promote diverse development. This approach will help Taiwan remain a leader in advancing global democratic supply chains, ensuring their security and stability. Third, we must continue working toward a Balanced Taiwan and generational justice, ensuring that the fruits of our economic growth can be enjoyed by all our people. Democracy means the people have the final say. Our nation belongs to all 23 million of us, without regard for ethnic group, generation, political party, or whether we live in urban or rural areas. In this new year, we must continue to pursue policies that promote the well-being of the nation and the people. But to that end, the central government needs adequate financial resources to ensure that it can enact each of these measures. Therefore, I hope that the ruling and opposition parties can each soberly reconsider the amendments to the Act Governing the Allocation of Government Revenues and Expenditures and find a path forward that ensures the lasting peace and stability of our country. For nine consecutive years, the minimum wage has continued to rise. Effective today, the minimum monthly salary is being raised from NT$27,470 to NT$28,590, and the hourly salary from NT$183 to NT$190. We hope by raising the pay for military personnel, civil servants, and educators for two consecutive years, coupled with benefits through wage increases and tax reductions, that private businesses will also raise wages, allowing all our people to enjoy the fruits of our economic growth. I know that everyone wants to pay lower taxes and rent. This year, we will continue to promote tax reductions. For example, unmarried individuals with an annual income of NT$446,000 or less can be exempt from paying income tax. Dual-income families with an annual income of NT$892,000 or less and dual-income families with two children aged six or younger with an annual income of NT$1,461,000 or less are also exempt from paying income tax. Additionally, the number of rent-subsidized housing units will also be increased, from 500,000 to 750,000 units, helping lighten the load for everyone. This year, the age eligibility for claiming Culture Points has been lowered from 16 to 13 years, so that now young people aged between 13 and 22 can receive government support for experiencing more in the arts. Also, our Taiwan Global Pathfinders Initiative is about to take effect, which will help more young people in Taiwan realize their dreams by taking part in education and exchange activities in many places around the world. We are also in the process of establishing a sports ministry to help young athletes achieve their dreams on the field, court, and beyond. The ministry will also be active in developing various sports industries and bringing sports and athletics more into the lives of the people, making our people healthier as a result. This year, as Taiwan becomes a “super-aged society,” we will launch our Long-term Care 3.0 Plan to provide better all-around care for our seniors. And we will expand the scope of cancer screening eligibility and services, all aimed at creating a Healthy Taiwan. In addition, Taiwan will officially begin collecting fees for its carbon fee system today. This brings us closer in line with global practices and helps us along the path to our goal of net-zero emissions by 2050. We will also continue on the path to achieving a Balanced Taiwan. Last month, the Executive Yuan launched the Trillion NT Dollar Investment National Development Plan and its six major regional flagship projects. Both of these initiatives will continue to expand the investment in our public infrastructure and the development of local specialty industries, narrowing urban-rural and wealth gaps so that all our people can live and work in peace and happiness. My fellow citizens, today’s Taiwan is receiving international recognition for its performance in many areas, among them democracy, technology, and economy. This tells us that national development is moving in the right direction. In this new year, Taiwan must be united, and we must continue on the right course. We hope that everyone in the central and local governments, regardless of party, can work hard together to ensure that national policies are successfully implemented, with the people’s well-being as our top priority. This will allow Taiwan sure footing as it strides forward toward ever greater achievements. In this new year, we have many more brilliant stories of Taiwan to share with the world, inspiring all Taiwanese, both here and around the world, to cheer time and again for the glory of Taiwan. Taiwan will keep going strong. And we will keep walking tall as we enter the new global landscape. Thank you.

    MIL OSI Asia Pacific News

  • MIL-OSI Economics: India’s Green Hydrogen Review and Perspective

    Source: Asia Development Bank

    As a global leader in renewable energy, India is transitioning from fossil fuel-based hydrogen to green hydrogen, driven by technological advancements, cost reductions, and supportive policies. Initiatives like the National Green Hydrogen Mission and Green Hydrogen Policy aim to establish India as a global hub, targeting an annual production of 5 million metric tons by 2030. The strategy emphasizes investments in indigenous technologies, pilot projects, and infrastructure to boost domestic demand and production. However, significant challenges remain in scaling up green hydrogen production. These include high capital expenditures for electrolyzers, gaps in transportation and storage technologies, and material dependencies. While alkaline electrolysis systems are not expected to face long-term material constraints, they still require substantial quantities of steel, nickel, and copper per megawatt. India’s dependence on imported nickel could disrupt supply chains even for these systems. To address these challenges, collaboration between the government, public enterprises, and the private sector is essential for building a sustainable green hydrogen ecosystem. By 2030, India’s investment in green hydrogen and its ammonia capacity is estimated to reach approximately $34.0 billion, with $9.3 billion (27%) from government-owned enterprises and $24.8 billion (73%) from major private companies, based on their current investment plans. This investment is projected to achieve a green hydrogen and green ammonia capacity of over 10 million metric tons by 2030, doubling the government’s target. While economic analysis shows that green hydrogen projects can be viable in accordance with the Asian Development Bank’s economic analysis guideline, financial analysis underscores the need for financing mechanisms—such as public funding, guaranteed pricing, and operational support—to make projects more competitive and attract investment. In particular, concessional funding will play a key role in mitigating risk and attracting initial investments. Additionally, a unified policy approach must address the development of infrastructure and foster collaboration across multiple stakeholders. Given the scarcity of key raw materials for electrolyzers, such as iridium and platinum, exploring alternative options like anion exchange membrane electrolyzers could be strategically significant for scaling up production. International partnerships for green hydrogen exports will also be important to support expansion on a large scale.

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  • MIL-OSI Economics: Are Natural Disasters Disastrous for Education? Evidence from Seven Asian Countries

    Source: Asia Development Bank

    We estimate natural-disaster impacts on children’s school enrollments and math skills and test for impact heterogeneities with respect to age and gender in seven countries in Asia and the Pacific, which is the world’s most disaster-prone region. We link survey data on children aged 5 to 17 to time- and geo-coded disaster variables. We create time-varying disaster exposures for each child for the first 1,000 days from conception, the most recent years, and the time in between. The results show significant negative effects of early life natural disaster exposures on enrollments and math skills; weaker or no effects of recent or mid-childhood disaster exposures; persistent negative effects of early life exposures on enrollments through school-going ages; and variable age patterns of the enrollment and learning effects of exposures across countries. Boys’ enrollments were more negatively affected by early life natural-disaster exposures, and girls’ math-test scores were more negatively affected by early life natural-disaster exposures.

    WORKING PAPER 1492

    MIL OSI Economics

  • MIL-OSI USA: ICYMI: Sen. Sullivan leads Alaska Delegation, Sec. of Transportation, and NTSB Chair in Press Conference on Alaska Aviation Safety

    US Senate News:

    Source: United States Senator for Alaska Dan Sullivan

    02.11.25

    WASHINGTON— U.S. Senator Dan Sullivan (R-Alaska), a member of the Senate Commerce, Science and Transportation Committee, led a press conference with Senator Lisa Murkowski and Representative Nick Begich (both R-Alaska), U.S. Secretary of Transportation Sean Duffy, and National Transportation Safety Board Chair Jennifer Homendy for Alaska media regarding their shared focus on enhancing aviation safety in Alaska. This conference followed the tragic crash of a commuter aircraft in Alaska in the Bering Sea near Nome last weekend that took the lives of 10 Alaskans.

    Click here or the image above to watch the full press conference.

    Senator Sullivan is a member of the Senate Commerce, Science and Transportation Committee which has oversight of the Federal Aviation Administration, the Department of Transportation, and the National Transportation Safety Board. He has strongly advocated for critical infrastructure to provides greater flexibility to meet Alaska’s unique aviation needs in this role. In May 2024, the FAA Reauthorization was signed into law which included several Sullivan-authored provisions specifically for Alaska.

    MIL OSI USA News

  • MIL-OSI Russia: Strict rules: how veterinary experts check the quality of fish and seafood

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    High-protein products of animal origin require particularly careful control. The Moscow-on-the-Wave fish markets have special laboratories where employees of the state budgetary institution Mosvetoedinenie monitor the products. We tell you what stages of testing fish and seafood go through.

    Veterinary examination is not only a check of food products. Since fish is a very demanding product, the conditions of its transportation are of great importance, and therefore the condition of the vehicle. Thus, in addition to checking the veterinary accompanying documents, a specialist of the state veterinary service inspects the internal surfaces of the car. They must be smooth, easy to wash and disinfect. The temperature maintained in the cargo compartment of the vehicle is also checked. For example, chilled food fish products must be stored at a temperature of up to five degrees, but above the freezing point of tissue juice, and frozen fish products – at a temperature of no higher than minus 18 degrees.

    Then the veterinary expert starts checking the organoleptic indicators, carefully examining the appearance. It is important that the products do not have cuts, cracks and subcutaneous yellowing that occurs when fats oxidize.

    The next stage of the examination is dosimetric and radiometric studies. In addition, specialists check the consistency, smell and temperature of the products. If all indicators are in order, the batch is accepted.

    The Moscow-on-the-Wave fish market opened in the Kosino-Ukhtomsky district in November 2023, and in Mitino on September 25, 2024. How reported earlierSergei Sobyanin, last year they were visited by more than 1.5 million people, and over one thousand tons of products were sold.

    The Moscow-on-the-Wave fish markets offer a wide range of fish and seafood from three oceans and 13 seas that wash Russia. Residents and guests of the capital can buy fresh carp, chilled Murmansk salmon, red mullet on skewers, northern omul and whitefish in fresh-frozen and smoked form, lightly salted tugunok, Olyutor herring and much more.

    More information about the activity Department of Trade and Services can be found in the official telegram channeldepartments.

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

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

    https: //vv.mos.ru/nevs/ite/149956073/

    MIL OSI Russia News

  • MIL-OSI China: China’s SME development index edges up in January

    Source: China State Council Information Office

    People visit the 12th APEC Small and Medium Enterprises Technology Conference and Fair (APEC SMETC) in Qingdao, east China’s Shandong Province, Nov. 10, 2023. [Photo/Xinhua]

    An index tracking the development of China’s small and medium-sized enterprises (SMEs) edged up in January, data from an industry association showed Tuesday.

    The SME development index rose by 0.1 points to 89.0, compared to the previous month, the China Association of Small and Medium Enterprises data showed.

    Six of the eight sub-indices rallied in January, including market, labor and investment, according to the association.

    In terms of sectors, sub-indices for the industry, transport, real estate, wholesale and retail sales, social service, and information transmission software sectors grew by 0.1, 0.4, 0.2, 0.2, 0.5 and 0.3 points, respectively.

    In terms of regions, the sub-indices for the east, west and northeast regions stood at 89.7, 88.1 and 81.0, up 0.1, 0.3 and 0.3 points, respectively. The sub-index for the central region was 89.9, equivalent to the previous month.

    In China, more than 90 percent of private companies are SMEs, and more than 90 percent of SMEs are private companies.

    MIL OSI China News

  • MIL-OSI USA: News 02/11/2025 Blackburn, Ernst Bill Pursuing $200 Billion in COVID Fraud Advances

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)

    WASHINGTON, D.C. – U.S. Senators Marsha Blackburn (R-Tenn.) and Joni Ernst’s (R-Iowa) Complete COVID Collections Act to extend the life of the watchdog tasked with tracking down criminals who stole COVID relief designed for small businesses.

    “During the pandemic, small business owners in need of financial assistance were turned away because criminals, gang members, and drug traffickers stole money from the relief program,” said Senator Blackburn. “This legislation would help ensure we recoup every penny of funding that was wrongly awarded to criminals who gamed the system.”

    “I will not allow fraudsters to get away with stealing hundreds of billions of dollars from taxpayers,” said Senator Ernst. “We are going to recoup every cent and end the cycle in Washington of shrugging off a few billion here and a few hundred million there. That irresponsible mindset is why the federal government is more than $36 trillion in debt. I’m proud to lead this step forward to treat tax dollars like a family treats its budget instead of like a bottomless slush fund.”

    “Programs designed to provide relief to our small businesses were repeatedly taken advantage of, leaving small businesses hurting and taxpayers on the hook,” said Senator Young. “I’m glad to see this effort to recover taxpayer dollars and protect Americans from fraud and abuse pass out of committee. I look forward to voting for this bill on the Senate floor.”

    “Family-owned businesses in Utah played the rules and used COVID-19 relief funds as intended, but bad actors exploited the system and defrauded taxpayers,” said Senator Curtis. “By extending oversight authority over these programs, our legislation strengthens enforcement efforts and holds criminals accountable for stealing from the American people. I’m proud to see our bill pass out of the Small Business Committee.”

    BACKGROUND:

    • While SBA ran the relief programs on a “first come, first serve” basis, the money ran out quickly, and many qualifying businesses were turned away as felons, gang members, and drug traffickers raked in cash. Some swindlers uploaded pictures of Barbie dolls as photo identification on SBA loan applications that were approved.
    • One alleged fraudster took home $8 million while nearly 2,000 struggling restaurants in Iowa were left empty-handed. 
    • Senators Blackburn and Ernst led several of their Republican colleagues in introducing the bill after the Special Inspector General for Pandemic Recovery (SIGPR) warned its authority was expiring and con artists would get away with stealing more than $200 billion.

    CO-SPONSORS: 

    • The bill is cosponsored by Senators Todd Young (R-Ind.), James Lankford (R-Okla.), Josh Hawley (R-Mo.), Eric Schmitt (R-Mo.), and John Curtis (R-Utah).

    Click here to view the bill text.

    MIL OSI USA News

  • MIL-OSI United Nations: World News in Brief: UNAMA concern over migrant deaths, ‘war tactics’ in the West Bank, UN political chief underscores support for Somalia

    Source: United Nations MIL OSI b

    Migrants and Refugees

    The UN Assistance Mission in Afghanistan (UNAMA) expressed its deep concern over disturbing reports that Iranian border police opened fire on a group of Afghan migrants, resulting in deaths and injuries. 

    The alleged attack occurred on 14 to 15 October in the Kala Gan border area of Iran’s Sistan Province near the Iran-Pakistan border. 

    The organisation Haalvsh, which focuses on Baloch rights in Iran, has claimed that up to 260 civilians may have been killed or wounded. However, these figures remain unconfirmed. 

    Afghanistan’s de facto authorities stated that an investigation into the incident has begun. UNAMA’s Human Rights Service is in contact with the DFA regarding the matter. 

    UNAMA has called for a “thorough and transparent investigation” into the reported attack. The mission emphasised that the  “rights, of migrants, refugees and asylum seekers are protected by international law.”

    © UNICEF/Alaa Badarneh

    Families are being displaced from their homes in Jenin in the northern West Bank due to an escalation of violence.

    West Bank Palestinians facing deadly ‘war-like tactics’, warns OCHA

    Palestinians continue to face “war-like tactics” used against them by Israeli forces and settlers in the West Bank, the UN aid coordination office, OCHA, said on Friday.

    According to OCHA, from 8 to 14 of October, Israeli forces in the West Bank killed nine Palestinians, including a child. Another 104 were injured, including nine youngsters. 

    “Israeli forces accused most of those fatalities of being involved in attacking Israelis,” said OCHA spokesperson Jens Laerke.

    The olive harvest which takes place during October and November and is “an economic lifeline for tens of thousands of Palestinian families in the West Bank” has also been targeted, Mr. Laerke warned, with hundreds of olive trees and saplings “vandalized, sawed off, or stolen”. 

    Killed picking olives

    “Yesterday, a Palestinian woman was reportedly killed while she was harvesting olives in Jenin. This follows 32 attacks by Israeli settlers this month on Palestinians engaged in the ongoing olive harvest happening right now.”

    The woman was with her family and other community members on land near the Wall separating Israel and the West Bank. 

    According to information gathered by the UN rights office, OHCHR, the harvesters were not posing any threat whatsoever when Israeli security forces fired multiple shots at them without prior warning.

    The arbitrary killing comes in the context of intensified, organized attacks by Israeli settlers against Palestinian harvesting teams to sabotage the olive harvest, along with use of force by Israeli security forces to block Palestiniansˈ access to their lands in an apparently arbitrary manner. 

    During the first week of the official Palestinian olive harvest season OHCHR recorded dozens of incidents of violence against Palestinian harvesters and disruption of access to olive groves.

    Among other alarming incidents, on 13 October, Palestinian landowners from Qusra, Nablus, found 115 of their trees cut down with a chainsaw after resisting harassment and threats by settlers and security forces to vacate their groves.

    Mr. Laerke said that although there has been settler violence for “a very long time, this year is extraordinary”.

    He noted that about 160,000 people have had their work permits for Israel cancelled, depriving families of livelihoods and income.

    Senior official underscores UN support for Somalia

    The UN political affairs chief concluded a two-day visit to Somalia on Friday where she reaffirmed the world body’s support for the country’s efforts towards peace- and state-building.

    Rosemary DiCarlo said the UN has been a longstanding partner to Somalia and remains steadfast in its commitment to supporting the Government and people.

    “Together, we aim to build on the commendable achievements and priorities agreed upon to address key development challenges facing the country – we stand ready to work alongside the Federal Government of Somalia to accomplish this,” she added.

    Achievements and transitions

    While in the capital, Mogadishu, Ms. DiCarlo met with President Hassan Sheikh Mohamud and senior members of his team for wide-ranging discussions, in addition to meeting with representatives of civil society, international partners and the diplomatic community.

    In her meeting with the President, Ms. DiCarlo noted Somalia’s many achievements in the past year, including debt relief under the Heavily Indebted Poor Countries Initiative, the accession to the East African Community, and the lifting of the arms embargo.

    Looking forward, she offered her congratulations on Somalia taking up a seat on the UN Security Council starting next year. She also underscored the commitment of the UN to continue to support Somalia in the period ahead and to work closely on the proposed transition of the UN mission in the country, UNSOM.

    Ms. DiCarlo also met with Ambassador Mohammed El-Amine Souef, the Special Representative of the Chairperson of the African Union (AU) Commission for Somalia and Head of the AU Transition Mission there, ATMIS. 

    They discussed ATMIS’s upcoming transition to the African Union Support and Stabilisation Mission in Somalia (AUSSOM) which begins in January. 

    MIL OSI United Nations News

  • MIL-OSI Economics: Money Market Operations as on February 11, 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) 5,87,196.10 6.25 5.15-6.70
         I. Call Money 12,933.60 6.33 5.15-6.42
         II. Triparty Repo 4,15,256.05 6.23 5.80-6.35
         III. Market Repo 1,57,425.85 6.32 5.99-6.55
         IV. Repo in Corporate Bond 1,580.60 6.50 6.45-6.70
    B. Term Segment      
         I. Notice Money** 381.10 6.13 5.50-6.37
         II. Term Money@@ 555.00 6.40-6.75
         III. Triparty Repo 800.00 6.23 6.15-6.35
         IV. Market Repo 3,298.72 6.37 6.25-6.45
         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 Tue, 11/02/2025 1 Wed, 12/02/2025 2,00,036.00 6.26
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Tue, 11/02/2025 1 Wed, 12/02/2025 3,498.00 6.50
    4. SDFΔ# Tue, 11/02/2025 1 Wed, 12/02/2025 71,434.00 6.00
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       1,32,100.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo Fri, 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$       8,756.81  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     58,766.81  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     1,90,866.81  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on February 11, 2025 9,37,612.51  
         (ii) Average daily cash reserve requirement for the fortnight ending February 21, 2025 9,12,240.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ February 11, 2025 1,57,559.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on January 24, 2025 -34,103.00  
    @ 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.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/2131

    MIL OSI Economics