NewzIntel.com

Category: Business

  • MIL-OSI China: Beijing sub-center boosts green development

    Source: China State Council Information Office 2

    Over the past year, Beijing’s sub-center has advanced green development in various sectors including ecology, architecture, transportation, industry, and energy.
    Located in Tongzhou district of the city, the municipal administrative center covers an area of approximately 155 square kilometers and was planned and constructed to adjust the city’s spatial layout.
    In February 2024, China’s State Council approved a guideline on building a national demonstration zone of green development in the sub-center. 
    Green ecology has since showed visible progress. “Tongzhou district provides suitable wintering habitats for tens of thousands of water birds each year and has become a key area for bird biodiversity conservation,” said Lyu Xiaofei, deputy director general of the Tongzhou District Ecology and Environment Bureau.
    From November 2023 to November 2024, a total of 289 bird species were recorded in Tongzhou district, Lyu said.
    Green development has also been integrated into all aspects of architectural design. The headquarters of Beijing Investment Group, a landmark building in the sub-center, was completed last year. The building maximizes the use of renewable energy, with a rooftop solar power installation capacity of 413.5 kW and an annual power generation of approximately 400,000 kWh. Its hybrid energy system, primarily powered by ground-source heat pumps, is expected to reduce carbon dioxide emissions by 1,220 metric tons per year.
    Last year, Tongzhou district launched eight new bus routes and adjusted 13 existing ones, ensuring a bus stop every 500 meters in urban areas. This is part of the efforts of the district to boost green transportation.
    Currently, the sub-center is leveraging green energy technologies to drive the energy transition, replacing fossil fuels with renewable energy.

    MIL OSI China News –

  • MIL-OSI: Dynamite Blockchain Announces Private Placement

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES

    Vancouver, B.C., Feb. 07, 2025 (GLOBE NEWSWIRE) — Dynamite Blockchain Corp. (the “Company” or “Dynamite”) (CSE: KAS) is pleased to announce a non-brokered private placement (the “Offering”) of up to 10,000,000 units of the Company (each, a “Unit”) at a price of $0.10 per Unit, for aggregate gross proceeds of up to $1,000,000. Each Unit will consist of one (1) common share in the capital of the Company (a “Common Share”) and one (1) transferable share purchase warrant (a “Warrant”), each warrant to entitle the holder to purchase one (1) additional Common Share at an exercise price of C$0.20 per Common Share for a period of 24 months following the closing of the Offering, subject to acceleration in the event the Common Shares close above $0.30 for a period of five (5) consecutive trading days.

    The Offering will be completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 Prospectus Exemptions and therefore the Common Shares underlying the Units issued in the Offering to Canadian subscribers will not be subject to a hold period in accordance with applicable Canadian securities laws. The Warrants underlying the Units issued in the Offering and any Shares issued upon exercise thereof will be subject to contractual restrictions on resale, expiring four-months and one day from the date of issue of the Warrants. There is an offering document related to the Offering (the “Offering Document”) that can be accessed under the Company’s profile at www.sedarplus.ca and at www.dynamiteblock.com. Prospective investors should read the Offering Document before making an investment decision.

    The Offering is expected to close on about February 20, 2025, and completion of the Offering is subject to certain conditions including, but not limited to, receiving adequate subscriptions for the Offering and the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.

    Use of Funds

    The Company intends to use the net proceeds from the Offering to solidify the Company’s position as a Kaspa-focused public company, by using proceeds towards the purchase of Kaspa coins and further investment into Kaspa mining operations and Kaspa product development. Other uses of the proceeds will be used towards audit fees, legal fees, marketing fees, consulting fees and general working capital, as further set out in the Offering Document.

    “By focusing the majority of the proceeds on Kaspa Purchases, Mining Operations and Kaspa Product development, we are strategically positioning ourselves to be on the path to become the ‘Kaspa Proxy’ by providing shareholders exposure to Kaspa on the Canadian Securities Exchange,” commented Akshay Sood, CEO of Dynamite Blockchain Corp.

    Why Kaspa and Why Now?

    The Company believes that Kaspa is currently critically undervalued, due to the following expected developments:

    1.Speed: Kaspa’s Crescendo hardfork (the “Hardfork”) is now expected in only a couple monthsi , an event that the Company expects to allow the Kaspa network to go through a transformational upgrade and enable it to process 10 times as many blocks as it is currently processing todayii;

    2.Functionality: The Hardfork update is expected to come just prior to the implementation of smart contract functionalityiii, which the Company expects will take Kaspa’s Layer 1 network to new heights;

    3.Scalability: With the two developments above in place, it is expected that Kaspa will not only be faster than Ethereum, Bitcoin and Solanaiv, but also more scalable; and

    4.Security: Having higher transaction throughput than compared to its current statev, the Company expects Kaspa will take a further step towards building an extremely secure and decentralized framework that addresses the blockchain trilemma beautifullyvi.

    “With the upcoming Crescendo Hardfork, we believe that Kaspa’s value proposition and utility will strengthen and that we will be poised to capitalize on this transformation,” continued Mr. Sood.

    “We are not just focused on mining or holding Kaspa but on creating a comprehensive ecosystem that fosters diversification, long-term sustainability and adoption,” concluded Mr. Sood.

    The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

    On behalf of the Company,

    Akshay Sood,
    Chief Executive Officer
    Telephone: 236-259-0279

    About Dynamite Blockchain Corp.

    Dynamite Blockchain is a blockchain technology infrastructure company focused on building a diversified blockchain ecosystem focused on Kaspa.

    Forward-Looking Statements

    The information in this news release includes certain information and statements about management’s view of future events, expectations, plans, and prospects that constitute forward- looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward-looking statements in this news release include, without limitation, statements respecting: the Offering, the timing thereof and the expected use of proceeds therefrom; the Company’s focus on Kaspa; the Company’s belief that Kaspa is critically undervalued; expectations respecting the Kaspa Crescendo Hardfork and the impact thereof; implementation of smart contract functionality into Kaspa and the impact thereof; the Company’s goal to become a Kaspa Proxy; Kaspa’s value proposition strengthening and the Company being poised to capitalize on that transformation; and the Company’s focus on creating a comprehensive ecosystem for Kaspa that fosters diversification, long-term sustainability and adoption. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward- looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements, or otherwise.

    The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

     

    ihttps://medium.com/@coderofstuff/crescendo-consolidated-roadmap-update-4c96535f7a43

    ii https://kaspa.org/crescendo-hard-fork-roadmap-10bps/

    iii https://kaspa.org/developments/

    iv https://kaspaspeed.com/

    vhttps://www.bitget.com/news/detail/12560604474352

    vi https://kaspa.org/about-kaspa/

    The MIL Network –

  • MIL-OSI: Municipality Finance issues a GBP 25 million tap under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    7 February 2025 at 10:00 am (EET)

    Municipality Finance issues a GBP 25 million tap under its MTN programme

    On 10 February 2025 Municipality Finance Plc issues a new tranche in an amount of GBP 25 million to an existing benchmark issued on 4 October 2023. With the new tranche, the aggregate nominal amount of the benchmark is GBP 275 million. The maturity date of the benchmark is 2 January 2026. The benchmark bears interest at a fixed rate of 5.000 % per annum.

    The new tranche is issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the new tranche to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 10 February 2025. The existing notes in the series are admitted to trading on the Helsinki Stock Exchange.

    NatWest Markets N.V. acts as the Dealer for the issue of the new tranche.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the Republic of Finland. The Group’s balance sheet totals over EUR 50 billion.

    MuniFin builds a better and more sustainable future with its customers. Our customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: https://www.kuntarahoitus.fi/en/

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –

  • MIL-OSI: Municipality Finance issues GBP 14,6 million notes under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    7 February 2025 at 10:00 am (EET)

    Municipality Finance issues GBP 14,6 million notes under its MTN programme

    Municipality Finance Plc issues GBP 14,6 million notes on 10 February 2025. The maturity date of the notes is 10 February 2026. The notes bear interest at a fixed rate of 4.30% per annum.

    The notes are issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 10 February 2025.

    Morgan Stanley & Co. International plc acts as the dealer for the issue of the notes.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.
    The Group’s balance sheet totals over EUR 50 billion.

    MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, corporate entities under their control, and non-profit organisations nominated by the Housing Finance and Development Centre of Finland (ARA). Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: https://www.kuntarahoitus.fi/en/

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on February 07, 2025

    Source: Reserve Bank of India

    Tenor 3-day
    Notified Amount (in ₹ crore) 1,50,000
    Total amount of bids received (in ₹ crore) 1,33,013
    Amount allotted (in ₹ crore) 1,33,013
    Cut off Rate (%) 6.26
    Weighted Average Rate (%) 6.27
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2099

    MIL OSI Economics –

  • MIL-OSI China: Foreigners enjoy China’s improved mobile payment

    Source: China State Council Information Office 3

    Tourists from France enjoy a soup dumpling at Yuyuan Garden Mall in Shanghai, east China, Jan. 21, 2025. [Photo/Xinhua]

    Foreign visitors in China experienced a smoother, more convenient travel environment during this year’s Spring Festival, thanks to improvements to the country’s mobile payment systems.

    The latest data from the People’s Bank of China shows that the volume of transactions made by international tourists during the Chinese New Year holiday, which ran from Jan. 28 to Feb. 4 this year, surged significantly from last year. The total number of cross-border transactions processed by China UnionPay and NetsUnion Clearing Corporation increased 124.54 percent, and the total transaction value grew 90.49 percent.

    This jump in payment activity reflects not only the growing appeal of China as a travel destination but also the seamless integration of mobile payment systems for foreign visitors.

    In cities like Shanghai, foreign tourists can now use international credit cards or mobile payment apps such as Alipay for shopping, dining and sightseeing, which allowed tourists to enjoy the cultural experiences on offer fully during the Chinese New Year.

    German tourist Carla Uhrmacher, who visited the famous Yuyuan Garden in the eastern Chinese metropolis of Shanghai, was impressed by the ease with which she could use her mobile payment app to buy traditional Chinese crafts and souvenirs. “Whether using Visa or Mastercard, or mobile payment systems, it’s all very seamless,” she noted, highlighting how accessible these payment methods are for international visitors.

    This Spring Festival saw an increase in payment transactions and a significant rise in the number of foreign visitors to China. Inbound arrivals during this year’s Spring Festival hit a record high, with a 150 percent year-on-year leap reported, Lin Jian, a spokesperson for China’s foreign ministry, told a press conference on Wednesday, citing data from third-party platforms.

    While popular destinations such as Beijing, Shanghai and Guangzhou continued to attract large numbers of foreign travelers during the holiday, cities like Suzhou, Xi’an, Chengdu and Xiamen emerged as new favorites for international tourists using mobile payment services, Alipay data shows.

    This surge in international visitors can be largely attributed to China’s ongoing efforts to enhance its payment services for foreigners. The country has made it easier for international travelers to use their foreign credit cards by allowing them to link these cards directly to popular Chinese mobile payment platforms like Alipay and WeChat Pay.

    An increasing number of international e-wallets are now also supported for use in China. Alipay, for example, now allows users to link 13 different overseas e-wallets from countries like the Philippines, Thailand and Singapore.

    Though cashless payment services have improved significantly, foreign tourists can also take advantage of a network of nearly 70,000 bank branches, 320,000 ATMs, and currency exchange facilities across the country.

    This year’s Spring Festival also saw a notable increase in foreigner spending, particularly in cities like Beijing, where tourists from various countries flocked to shopping areas such as Qianmen Street to purchase souvenirs, local teas and trendy clothing.

    This spending boom is backed by figures, with the number of transactions made by foreign visitors on WeChat increasing 134 percent compared to last year’s Spring Festival, and with the total spent via Alipay rising 150 percent during the first five days of the holiday. These figures reflect not only the convenience of mobile payments but also the growing enthusiasm of foreign tourists to purchase Chinese goods and immerse themselves in local culture.

    An increasingly open China is becoming an even more attractive destination for international tourists as Chinese New Year is celebrated globally, and as payment services continue to improve, analysts in China have noted. And these improved payment experiences will make China travel even smoother and more enjoyable for international visitors.

    MIL OSI China News –

  • MIL-OSI China: Electronic information manufacturing posts fast growth

    Source: China State Council Information Office 3

    People try out Huawei smartphones in Shenzhen, south China’s Guangdong Province, Sept. 10, 2024. [Photo/Xinhua]

    China’s electronic information manufacturing sector registered robust growth in 2024, with the added value of major enterprises in the sector increasing 11.8 percent from the previous year, official data showed on Thursday.

    The combined operating revenues of the sector’s major firms rose 7.3 percent year on year to 16.19 trillion yuan (about 2.26 trillion U.S. dollars) in 2024, according to data from the Ministry of Industry and Information Technology.

    During the period, the combined profits of these companies increased 3.4 percent year on year to 640.8 billion yuan, the data showed.

    Among major products, a total of 1.67 billion mobile phones were produced in 2024, a year-on-year increase of 7.8 percent. About 1.25 billion smartphones were manufactured, growing 8.2 percent from the previous year.

    Major companies in the sector are those with a main annual business revenue of at least 20 million yuan.

    MIL OSI China News –

  • MIL-OSI Global: DRC conflict: talks have failed to bring peace. Is it time to try sanctions?

    Source: The Conversation – Africa – By Patrick Hajayandi, Research Affiliate, University of Pretoria

    The crisis in the eastern Democratic Republic of Congo (DRC) escalated at the end of January 2025 when Goma, the capital of the province of North Kivu, fell to Rwanda-backed M23 rebels.

    The civilian population is paying a heavy price as a result of ongoing violence, despite a series of initiatives aimed at creating conditions for peace. Since the re-emergence of the M23 in November 2021, violent clashes with the Congolese army have led to thousands of deaths and displaced more than one million people in North Kivu province alone.

    Patrick Hajayandi, whose research focuses on peacebuilding and regional reconciliation, examines previous attempts at finding peace in eastern DRC – and what needs to happen next.

    What efforts have been made by the DRC and Rwanda to ease tensions?

    The eastern DRC has become the site of renewed tensions between Kigali and Kinshasa. Rwanda lies to the east of the DRC. The two nations share a border of about 217 kilometres.

    Kigali accuses the DRC of hosting the Democratic Forces for the Liberation of Rwanda, the largest illegal armed group operating in the conflict area. Better known by its French acronym, FDLR, the group has stated its intention to overthrow the Rwandan government.

    On the other hand, Kinshasa accuses Rwanda of supporting and arming the M23, which seeks to control the two Kivu provinces, North and South. The involvement of the Rwandan Defence Forces in direct combat alongside the M23, corroborated by UN experts, has escalated the spread of violence.

    Despite current tensions between Kinshasa and Kigali, a few years ago the two governments engaged in collaborative efforts to solve the problem posed by the numerous armed groups operating in eastern DRC.

    Such efforts included two joint operations with Congolese and Rwandan forces aimed at neutralising the FDLR. These joint operations in 2008 and 2009 were known as Operation Kimia and Umoja Wetu. In 2019 and 2020, soon after he took power, President Felix Tshisekedi allowed the Rwandan army to conduct operations against the FDLR in Congolese territory.

    However, in recent years, relations have soured badly between Kinshasa and Kigali. This has led to regional efforts to broker peace.

    Why has it been so difficult for regional actors to broker peace in the DRC?

    The first complicating factor relates to the different roles that regional actors play in the DRC.

    The involvement of a multitude of countries points to the complexity underlying the conflict and the diverse geopolitical interests. The DRC shares a border with nine countries: Angola, Burundi, the Central African Republic, the Republic of Congo, Rwanda, South Sudan, Tanzania, Uganda and Zambia.

    In 2022, the African Union asked Angolan president João Lourenço to mediate between the DRC and Rwanda. The process he oversees is known as the Luanda Process and seeks to defuse the escalation of violence across the region. In particular, it has sought to reduce tensions between Kigali and Kinshasa.

    The East African Community is directly involved in peace initiatives to restore peace in DRC. It has appointed former Kenyan president Uhuru Kenyatta to lead what is called the Nairobi Process.



    Read more:
    DRC-Rwanda crisis: what’s needed to prevent a regional war

    The DRC has rebuffed the East African Community’s reconciliation efforts. And Rwanda recently criticised both processes, suggesting the country had lost confidence in the ability of Lourenço and Kenyatta to find a solution.

    In May 2023, the Southern African Development Community, of which the DRC is a member state, deployed a peace mission. This followed the exit of troops from the East African Community.

    Other countries play different roles directly or indirectly in various missions in the DRC. Burundi is supporting military operations there under the framework of bilateral agreements in the defence sector. Uganda also deployed troops, ostensibly in pursuit of jihadist-backed armed rebels three years ago. However, this deployment has been a destabilising factor, with Kampala facing accusations of supporting the M23.

    What have been the main hurdles in the way of these initiatives?

    The East African Community Regional Force was deployed to pursue peace in eastern DRC as part of the Nairobi Process. However, this mission was cut short due to four main challenges:

    • differences over mission objectives: the DRC government believed that the East African Community Regional Force would militarily confront M23 rebels. But the force had different objectives. As indicated by its commander, the deployment was to focus on overseeing the implementation of a political agreement, not run a military confrontation.

    • contrasting views among the leaders of the East African Community member states on how to address the DRC’s crisis: the DRC and Rwanda are both members of the community. Rwanda is vocal about stopping the persecution of Congolese Tutsi in the DRC. However, there is a growing perception that Rwanda is supporting the M23 as a proxy force to allow it to control mineral resources. This has stalled reconciliation efforts.

    • a lack of financial support for the talks: the African Union and regional bodies don’t have enough funding to support the interventions required to make meaningful progress.

    The Luanda Process has not been able to bring tangible results either. The reasons for this failure include bad faith from the parties involved. This was reflected in the continued capture of territories by Rwanda-backed M23 rebels, despite a July 2024 ceasefire.

    After the January 2025 seizure of Goma and wave of deaths and displacement that followed, the M23 declared another ceasefire. Whether it will hold remains to be seen.

    Rwanda’s behaviour in the ongoing conflict is complicating peace efforts. Kigali continues to deny supporting the M23 armed group. But it is participating in negotiations that involve the M23 and the DRC government. These contradictions make it difficult to know exactly who must be held responsible when, for example, a ceasefire is violated.

    What’s required to give peace in the DRC a chance?

    The current peace initiatives have been ineffective; they are routinely violated. What is needed is real pressure on the actors involved in spreading violence, forcing them to halt their destructive activities.

    Congolese Nobel Prize winner Denis Mukwege, for example, has called for diplomatic and economic measures to end the aggression in the DRC. This would mean implementing sanctions and aid conditionalities in both Kigali and Kinshasa against the military and political leaders orchestrating violence against civilian populations.

    Interventions should also include addressing structural causes of the conflict in the DRC, including resource exploitation.

    There is also a need to address impunity as an essential step towards lasting peace. Rwanda must not continue to support an armed group that is attacking a neighbour. Kigali needs to be held accountable. International pressure is essential in halting attacks. The DRC government must also play its role as a guarantor of security for all its citizens.

    Patrick Hajayandi 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. DRC conflict: talks have failed to bring peace. Is it time to try sanctions? – https://theconversation.com/drc-conflict-talks-have-failed-to-bring-peace-is-it-time-to-try-sanctions-248792

    MIL OSI – Global Reports –

  • MIL-OSI Russia: Marat Khusnullin: Russia’s construction complex is developing scientific, technical and educational infrastructure of universities

    Translartion. Region: Russians Fedetion –

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

    Moscow State University of Civil Engineering

    February 6, 2025

    Moscow State University of Civil Engineering

    February 6, 2025

    Previous news Next news

    Moscow State University of Civil Engineering

    The creation of modern conditions for education and research activities in Russian higher education institutions is an important part of the work of the Russian construction complex. High-quality infrastructure attracts talented students and scientists, promotes innovation and strengthens the positions of universities. Ultimately, this is a contribution to the future of the country, because it is within the walls of universities that specialists are trained who will move science and the economy forward, noted Deputy Prime Minister Marat Khusnullin.

    On the instructions of President Vladimir Putin, a network of world-class university campuses is being created in Russia. One of these projects will be implemented at the Moscow State University of Civil Engineering.

    “NRU MGSU is a flagship university in the construction industry. It has recently been included in the list of universities that provide training for engineering personnel and scientific developments for the country’s technological leadership. It has become the basic organization of the CIS member states for training and advanced training for personnel in the construction and housing and communal services industries. Last year, the university held the most successful admissions campaign in recent years. The passing scores for state-funded programs have increased significantly in a number of specialties. MGSU entered the top 10 universities in Moscow and the Moscow region in terms of the dynamics of the quality of state-funded admission. President Vladimir Vladimirovich Putin supported the project to create a world-class campus on the basis of NRU MGSU. And today, the development of design and estimate documentation for the construction of two blocks of the educational and scientific cluster has already begun. Architectural and planning solutions have been agreed upon with the university,” said Deputy Prime Minister, Chairman of the Board of Trustees of NRU MGSU Marat Khusnullin.

    The construction of the campus facilities of the National Research Moscow State University of Civil Engineering is planned to be carried out in two stages until 2035. Within the first stage, three blocks of the educational and scientific cluster, a sports and recreation complex, an ice arena, and a student dormitory will be built. The area of the new facilities will be more than 172 thousand square meters, facilities with an area of more than 10 thousand square meters will be reconstructed, and major repairs of the existing buildings of the National Research Moscow State University of Civil Engineering are planned.

    Currently, design and estimate documentation is being developed for blocks “A” and “B” with an area of over 69 thousand square meters, which will house advanced research and educational spaces, coworking spaces, creative workshops and public catering areas.

    “When the campus is ready, it will be possible to implement a full innovation cycle on the basis of NRU MGSU, from the idea to the implementation of techniques and technologies, digital solutions, designs and materials in the construction industry and housing and communal services. I am sure that this will help popularize construction professions, achieve national goals and implement national projects,” Marat Khusnullin emphasized.

    In addition, work continues on the construction of university campuses on the premises of other universities. For example, as part of the Oryol State University named after I.S. Turgenev, the public-law company “Unified Customer in the Sphere of Construction” is constructing an educational and laboratory building and a dormitory complex.

    “The construction of the dormitory complex, consisting of three buildings, started in the summer of 2024. Currently, builders are actively performing monolithic work at the site; the construction of structures is already 60% complete. About 1,500 students will be able to live in comfortable conditions. The buildings will also have gyms, rooms for independent study and leisure,” the Deputy Prime Minister noted.

    The educational and laboratory building with an area of over 27 thousand square meters will house a prototyping and reengineering center, an auditorium, a library and other premises. The student campus will become a modern open space for education, science and business.

    Three more campuses are currently being built by Unified Customer in Yekaterinburg, Novosibirsk and Kaliningrad.

    At the same time, the Russian construction complex is developing the infrastructure of other universities that were not included in the world-class campus program. Including those facilities whose construction was delayed.

    Thus, the construction of five educational and laboratory buildings of the Crimean Federal University named after V.I. Vernadsky in Simferopol began in 2019 and 2022, but was suspended. In 2024, the construction was entrusted to the PPK “Unified Customer”. As reported by Marat Khusnullin, monolithic work has been completed in the building of the educational building of the Institute of Foreign Philology. More than one thousand students and teachers will be able to study and work in this building.

    “The eight-story building of the Institute of Foreign Philology will house classrooms and lecture halls, modern computer rooms, a reading room with an archive, a buffet with a dining room for 48 people, teachers’ offices, as well as a center for the language cultures of the small peoples of Crimea and other premises. The construction of the building is planned to be completed and equipped with modern technological equipment in 2026,” said Karen Oganesyan, General Director of the Unified Customer PPC.

    In addition, KFU continues construction of buildings for the Physics and Technology Institute, student center, administrative building, and the Architecture and Civil Engineering Academy. The total area of the buildings is over 46 thousand square meters.

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

    MIL OSI Russia News –

  • MIL-OSI: Danske Bank A/S initiates share buy-back programme

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no 6 2025 Danske Bank
    Bernstorffsgade 40
    DK-1577 København V
    Tel. + 45 45 14 14 00

    7 February 2025

    Page 1 of 1

    Danske Bank A/S initiates share buy-back programme

    In line with the distribution plan announced in the press release regarding the annual report for 2024 published on 7 February 2025, the Board of Directors of Danske Bank A/S (“Danske Bank”) has resolved to utilise the authorisation granted by the Annual General Meeting on 21 March 2024 to repurchase shares by initiating a share buy-back programme of up to DKK 5 billion (the “Programme”).

    The purpose of the Programme is to reduce the share capital of Danske Bank.

    The Programme will be implemented in accordance with Article 5 of Regulation (EU) No 596/2014 of the European Parliament and Council of 16 April 2014 (the “Market Abuse Regulation”) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

    The Programme will be conducted in the period from 10 February 2025 to 30 January 2026, at the latest. Danske Bank may, however, at any time suspend or terminate the Programme.

    The following additional conditions apply to the Programme:

    • Share repurchases will only take place on Nasdaq Copenhagen A/S.
    • The Programme will be managed by an independent lead manager, which, under a separate agreement with Danske Bank, will make its trading decisions regarding the timing of the share repurchases independently of, and without influence by Danske Bank, within the timeframe set out in this announcement.
    • The maximum amount allocated to the Programme is DKK 5 billion.
    • The maximum number of shares that may be acquired under the Programme is 45,000,000 shares.
    • Shares acquired under the Programme may not be purchased at a price exceeding the higher of (i) the share price of the last independent transaction on Nasdaq Copenhagen A/S, and (ii) the highest independent bid on the shares on Nasdaq Copenhagen A/S. The shares may not be acquired at a price deviating more than 10% from the price quoted on Nasdaq Copenhagen A/S at the time of acquisition.
    • Purchases on Nasdaq Copenhagen A/S made on one single purchase day may not exceed 25% of the average daily trading volume of the shares during the 20 preceding trading days before the purchase day.        

    Information about shares acquired under the Programme will be published weekly on Danske Bank’s website www.danskebank.com and via company announcements. Danske Bank will also on its website and via company announcement publish information about any subsequent changes to the Programme should such occur, including any termination of the Programme.

    Danske Bank

    Contacts:        Helga Heyn, Head of Media Relations, tel. +45 45 14 14 00
    Claus Ingar Jensen, Head of Group Investor Relations, tel. +45 25 42 43 70

    Attachment

    The MIL Network –

  • MIL-OSI: Falcon Oil & Gas Ltd. – Completion of Shenandoah SS-2H ST1 stimulation

    Source: GlobeNewswire (MIL-OSI)

    Falcon Oil & Gas Ltd.

    Completion of Shenandoah SS-2H ST1 stimulation

    07 February 2025 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce the completion the Shenandoah S2-2H ST1 (“SS-2H ST1”) stimulation in the Beetaloo Sub-basin, Northern Territory, Australia with Falcon Oil & Gas Australia Limited’s joint venture partner, Tamboran (B2) Pty Limited.

    Key Highlights

    • Successfully completed 35 stages across the 1,671-metre (5,483-feet) horizontal section of the Amungee Member B-shale with the Liberty Energy (NYSE: LBRT) modern stimulation equipment.
    • Stimulation activities achieved five stages over a 24-hour period on multiple days.
    • The average proppant intensity was 2,706 pounds per foot (lb/ft) and achieved wellhead injection rates above 100 barrels per minute.
    • The average stage spacing is 48-metres (~157-feet).
    • The SS-2H ST1 well will be completed ahead of clean out activities and the commencement of initial flow back and extended production testing.
    • Further updates on the completion of the Shenandoah South 4H (SS-4H) well will be provided in due course.

    Philip O’Quigley, CEO of Falcon commented:

    “We are extremely encouraged about the potential of the current stimulation program based on strong gas shows and other data observed whilst drilling. In addition, the experienced US operator, Liberty Energy, have shown the efficiencies they can achieve which will provide us with the greatest opportunity for the best possible outcomes from this stimulation program. We look forward to updating the market on the IP30 flow test results as soon as they become available.”
                                                    Ends.

    CONTACT DETAILS:

    Falcon Oil & Gas Ltd.          +353 1 676 8702
    Philip O’Quigley, CEO +353 87 814 7042
    Anne Flynn, CFO +353 1 676 9162
     
    Cavendish Capital Markets Limited (NOMAD & Broker)
    Neil McDonald / Adam Rae +44 131 220 9771

    This announcement has been reviewed by Dr. Gábor Bada, Falcon Oil & Gas Ltd’s Technical Advisor. Dr. Bada obtained his geology degree at the Eötvös L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG.

    About Falcon Oil & Gas Ltd.

    Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.

    Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd.

    For further information on Falcon Oil & Gas Ltd. Please visit www.falconoilandgas.com

    About Beetaloo Joint Venture (EP 76, 98 and 117)

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 22.5%
    Tamboran (B2) Pty Limited 77.5%
    Total 100.0%

    Shenandoah South Pilot Project -2 Drilling Space Units – 46,080 acres1

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 5.0%
    Tamboran (B2) Pty Limited 95.0%
    Total 100.0%

    1Subject to the completion of the SS2H ST1 and SS4H wells on the Shenandoah South pad 2.

    About Tamboran (B2) Pty Limited
    Tamboran (B1) Pty Limited (“Tamboran B1”) is the 100% holder of Tamboran (B2) Pty Limited, with Tamboran B1 being a 50:50 joint venture between Tamboran Resources Corporation and Daly Waters Energy, LP.

    Tamboran Resources Corporation, is a natural gas company listed on the NYSE (TBN) and ASX (TBN). Tamboran is focused on playing a constructive role in the global energy transition towards a lower carbon future, by developing the significant low CO2 gas resource within the Beetaloo Basin through cutting-edge drilling and completion design technology as well as management’s experience in successfully commercialising unconventional shale in North America.

    Bryan Sheffield of Daly Waters Energy, LP is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. (“PE”), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Natural Resources Company.

    Advisory regarding forward-looking statements
    Certain information in this press release may constitute forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information typically contains statements with words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “dependent”, “consider” “potential”, “scheduled”, “forecast”, “outlook”, “budget”, “hope”, “suggest”, “support” “planned”, “approximately”, “potential” or the negative of those terms or similar words suggesting future outcomes. In particular, forward-looking information in this press release includes, details on the completion of the stimulation of SS-2H ST1; Liberty Energy conducting the stimulation campaign; and commencement of initial flow back and extended production testing and updates on SS-4H.

    This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. The risks, assumptions and other factors that could influence actual results include risks associated with fluctuations in market prices for shale gas; risks related to the exploration, development and production of shale gas reserves; general economic, market and business conditions; substantial capital requirements; uncertainties inherent in estimating quantities of reserves and resources; extent of, and cost of compliance with, government laws and regulations and the effect of changes in such laws and regulations; the need to obtain regulatory approvals before development commences; environmental risks and hazards and the cost of compliance with environmental regulations; aboriginal claims; inherent risks and hazards with operations such as mechanical or pipe failure, cratering and other dangerous conditions; potential cost overruns, drilling wells is speculative, often involving significant costs that may be more than estimated and may not result in any discoveries; variations in foreign exchange rates; competition for capital, equipment, new leases, pipeline capacity and skilled personnel; the failure of the holder of licenses, leases and permits to meet requirements of such; changes in royalty regimes; failure to accurately estimate abandonment and reclamation costs; inaccurate estimates and assumptions by management and their joint venture partners; effectiveness of internal controls; the potential lack of available drilling equipment; failure to obtain or keep key personnel; title deficiencies; geo-political risks; and risk of litigation.

    Readers are cautioned that the foregoing list of important factors is not exhaustive and that these factors and risks are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at www.sedarplus.com, including under “Risk Factors” in the Annual Information Form.

    Any references in this news release to initial production rates are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter and are not necessarily indicative of long-term performance or ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for Falcon. Such rates are based on field estimates and may be based on limited data available at this time.

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

    The MIL Network –

  • MIL-OSI Economics: Standing Liquidity Facility for Primary Dealers

    Source: Reserve Bank of India

    RBI/2024-25/110
    REF.No.MPD.BC.398/07.01.279/2024-25

    February 07, 2025

    All Primary Dealers,

    Standing Liquidity Facility for Primary Dealers

    As announced in the bi-monthly Monetary Policy Statement, 2024-25, today, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 6.50 per cent to 6.25 per cent with immediate effect.

    2. Accordingly, the Standing Liquidity Facility provided to Primary Dealers (PDs) (collateralised liquidity support) from the Reserve Bank would be available at the revised repo rate of 6.25 per cent with immediate effect.

    Yours faithfully,

    (Praggya Das)
    Adviser-in-Charge

    MIL OSI Economics –

  • MIL-OSI: Progress in customer activity as well as core banking activities continued, and credit quality remained strong – Record-high net profit of DKK 23.6 billion, improving return on equity to 13.4%

    Source: GlobeNewswire (MIL-OSI)

    Press release Danske Bank
    Bernstorffsgade 40
    DK-1577 København V
    Tel. + 45 45 14 14 00

    7 February 2025

    Progress in customer activity as well as core banking activities continued,
    and credit quality remained strong
    Record-high net profit of DKK 23.6 billion, improving return on equity to 13.4%
    Dividend of DKK 9.35 per share for the second half of 2024 as well as an extraordinary dividend of DKK 5.35 per share, in total DKK 14.7 per share
    The Board of Directors has decided to initiate a new share buy-back programme of DKK 5 billion

    Danske Bank has announced its financial results for 2024.
    Carsten Egeriis, Chief Executive Officer, comments on the financial results:

    “For Danske Bank, 2024 was a year in which we consistently delivered positive results from quarter to quarter, driven by increased customer activity, continually strong credit quality and a sustained, dedicated effort from the entire organisation. Consequently, we maintained our positive commercial momentum, resulting in a solid financial performance.

    One year into the execution of our Forward ’28 strategy, we have made substantial progress within our technology transformation and customer engagement, and we can see that our investments in enhancing the customer experience have resulted in increasingly positive customer satisfaction scores.

    Our continued focus on cost discipline and on maintaining strong credit quality resulted in two upward adjustments of our financial guidance in 2024. On the basis of our strong financial results and solid capital position, the total distribution in 2024 amounts to 100% of net profit, thus honouring the commitment we have made to our shareholders.

    With our advanced customer offerings, deep expertise and solid financial position, Danske Bank is strongly positioned to create value for customers, shareholders and society. In a time of heightened geopolitical uncertainty, rapid technological shifts and increasing sustainability challenges, we will continue to focus on opportunities and solutions for households and businesses alike.”

    The annual report is available at www.danskebank.com. Highlights are shown below:

    2024 vs 2023
    Total income of DKK 56.4 billion (up 8%)
    Operating expenses of DKK 25.7 billion (up 1%)
    Loan impairments of DKK -543 million (2023: DKK 262 million)
    Net profit of DKK 23.6 billion (up 11%)
    Return on shareholders’ equity of 13.4% (2023: 12.7%)
    Strong capital position, with a CET1 capital ratio of 17.8% (2023: 18.8%). The ratio reflects strong capital generation and the full deduction of the announced 40% additional capital distribution.
    Solid progress towards Forward ’28 ambitions and 2026 targets
    2024 was the first full year of our Forward ’28 strategy, and we are well-positioned for future growth as we maintain our trajectory towards strengthening our position as a leading bank in the Nordic region and make significant investments in our customer offerings.

    For personal and private banking customers, with Forward ’28, a sharpened focus in each of our markets has allowed us to further strengthen our relations with existing customers and attract new ones. For business and institutional customers, we want to be a leading bank in the markets in which we operate. Our approach focuses on meeting evolving market demands while fostering high long-term customer and employee satisfaction.

    Significant progress with our technology transformation paved the way for a better customer experience and improved efficiency. In 2024, we made substantial progress in terms of using digitalisation, data, AI and technology to improve customer engagement while reducing costs and operational risks. We developed a new version of our District online banking platform that is tailored to small businesses and is expected to launch in Denmark in the first half of 2025. We also launched a new welcoming app that makes it both easier and faster to become a personal customer with us.

    Across the bank, we have made GenAI a strategic priority, and our GenAI-powered solutions offer key opportunities to unlock productivity gains. During 2024, we launched DanskeGPT, which has been adopted by almost 16,000 users across the organisation, corresponding to 74% of all employees. We have also deployed GenAI-powered tools for our software developers, and these tools are driving solid productivity improvements.

    In 2024, Danica developed its new commercial strategy, Forward ’28 – Danica, which aims to make Danica the preferred pension company in Denmark by 2028. The strategy, which took effect on 1 January 2025, focuses on the importance of making customer interactions with Danica easy and convenient through digital solutions and on offering comprehensive healthcare offerings, attractive returns and quality advice. These elements are expected to be key growth drivers over the next few years. The strategy aligns with the strategic direction set in Danske Bank’s Forward ’28 strategy, underscoring the significant potential in synchronising services between the bank and the pension business.

    As the success of our strategy relies on solid execution, we have a significant focus on our employees, supported by investments in development activities, leadership and the workplace. Employee satisfaction and engagement scores continued to improve from already high levels and are now above the industry benchmark.

    Sustainability is a key focus area in Forward ’28, and our ambition is to be a leading Nordic bank in terms of supporting the sustainability transition of customers, businesses and the Nordic societies that we are a part of. Our efforts are reinforced by new ESG advisory services, comprehensive staff training, recruitment of specialists and strategic partnerships, all aimed at supporting our customers’ sustainability transition. In line with European regulation, for the 2024 annual report, Danske Bank has prepared a sustainability statement in accordance with the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS).

    Better-than-expected macroeconomic conditions
    Macroeconomic conditions developed more favourably than expected in the markets in which we operate. Especially in Denmark, the inflation and growth outlook improved during the year, and this development is forecast to continue as central banks continue their easing trajectories, leading to lower rates for both households and businesses. Although the growth outlook has improved broadly speaking in the Nordic region, the uncertainty related to Europe’s long-term growth prospects and ability to innovate persists.

    In times of uncertainty for both Danske Bank and our customers, our well-capitalised balance sheet has enabled us to be a strong financial partner for our customers, and we have continued to support them with risk management expertise and expert advice.

    Strong financial performance
    An improved commercial momentum in our business, supported by better-than-expected macroeconomic conditions and strong credit quality have enabled us to strengthen profitability and generate record-high net profit. The return on equity thus increased from 12.7% to 13.4%, highlighting our positive trajectory and progress towards our 2026 targets.

    In 2024, total income grew 8%, driven by a sustained uplift in core banking income. Despite central bank rate cuts and lower deposit margins as well as overall muted credit demand, net interest income showed the expected strong development, with increasing net interest income throughout the year. Net fee income continued the positive traction throughout the year, reflecting our overall strong development and ability to do more business with existing customers and to attract new customers. We saw a higher level of fee income from cash management products, and customer activity generally remained high. Furthermore, we saw an increase in investment fees generated by strategic investments in our private banking offerings as well as a strong development in fees from asset management.

    Net trading income remained stable, and net income from insurance business benefited from stable financial markets, with the health and accident business continuing to be challenged, however.

    Operating expenses developed according to plan and were at the same level as in 2023. The minor year-on-year increase was caused mainly by higher investments in our technology transformation made under our Forward ’28 strategy and staff costs that were impacted by wage inflation. Costs related to financial crime prevention and legacy remediation decreased in line with our plan for a normalisation of costs, and together with prudent cost management, this led to an improvement in the cost/income ratio to 46% from 49%.

    Loan impairment charges amounted to a net reversal of DKK 543 million, reflecting strong credit quality and modest impairments against single-name exposures coupled with a review of post-model adjustments. We continue to apply significant post-model adjustments as well as a scenario-based macroeconomic model to cater for potential tail risks that are not evident in our portfolio. Overall, the macroeconomic environment improved during 2024 and was characterised by lower inflation, lower interest rates and an enhanced growth momentum.

    Overall, we ended the year with the same positive momentum that we saw in the first nine months of 2024. This resulted in record-high net profit of DKK 23.6 billion, up 11% from 2023.

    “The first year of execution of our Forward ’28 strategy, 2024 was an important year for Danske Bank’s financial performance: With income growth driven by our growing core income as well as our continued efforts to support customers and drive the commercial momentum, net profit represents a record-high result,” says Stephan Engels, Chief Financial Officer.
    We continue to create value to the benefit of our customers, our shareholders and society: Our tax expense amounted to DKK 7.6 billion, and given our strong capital position, and in line with the Forward ’28 strategy, the financial year 2024 enables us to make a significant payout to our shareholders.

    Delivering on capital distribution
    Given our strong balance sheet, and as planned in the Forward ’28 strategy, the financial year 2024 yields a significant payout to our shareholders. We paid a dividend of DKK 7.50 per share in connection with the interim report for the first half of 2024, and we propose a dividend of DKK 9.35 per share for the second half of 2024 as well as an extraordinary dividend of DKK 5.35 per share. Furthermore, on 6 December 2024, we announced a special dividend of DKK 6.50 per share following the successful transfer of the personal customer business in Norway. In total, our distribution for 2024 amounts to DKK 28.70 per share.

    It remains crucial for us to create value for all our stakeholders, including our shareholders, customers, employees and the societies we are part of, and as a bank we need to attract capital from shareholders to lend and do business. Besides large institutional investors, our capital distribution benefits most major pension funds in Denmark as well as private individuals in Denmark, who have invested part of their savings in Danske Bank shares. In total, we have more than a quarter of a million investors, of which more than half are private individuals in Denmark.

    Danske Bank’s dividend policy for 2025 remains unchanged, targeting a dividend payout of 40-60% of net profit in the form of annual dividend payments.

    Share buy-back
    The share buy-back programme launched in February 2024 of DKK 5.5 billion was completed in January 2025.

    On the basis of the financial results for 2024, the Board of Directors has decided to initiate a new share buy-back programme of DKK 5 billion, taking the total payout ratio to 100% of net profits when including the dividend for 2024 but excluding the special dividend related to the transfer of the personal customer business in Norway. The programme, which has been approved by the Danish Financial Supervisory Authority, will start on 10 February 2025.

    Outlook for 2025
    We expect net profit for 2025 to be in the range of DKK 21-23 billion.
    The outlook is subject to uncertainty and depends on economic conditions.

    Download the Annual Report as zip here.

    Danske Bank

    Contact: Helga Heyn, Head of Media Relations, tel. +45 45 14 14 00

    More information about Danske Bank’s financial results is available at www.danskebank.com/reports.

    Attachments

    The MIL Network –

  • MIL-OSI Economics: Result of Underwriting Auction conducted on February 07, 2025

    Source: Reserve Bank of India

    In the underwriting auction conducted on February 07, 2025, for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:

    Nomenclature of the Security Notified Amount
    (₹ crore)    		 Minimum Underwriting Commitment (MUC) Amount
    (₹ crore)    		 Additional Competitive Underwriting Amount Accepted
    (₹ crore)    		 Total Amount underwritten
    (₹ crore)    		 ACU Commission Cut-off rate
    (paise per ₹100)
    6.92% GS 2039 12,000 6,006 5,994 12,000 0.22
    7.09% GS 2054 10,000 5,019 4,981 10,000 0.18
    Auction for the sale of securities will be held on February 07, 2025.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2098

    MIL OSI Economics –

  • MIL-OSI Economics: Robust corporate governance a strategic imperative for business resilience and growth, says GlobalData

    Source: GlobalData

    Robust corporate governance a strategic imperative for business resilience and growth, says GlobalData

    Posted in Strategic Intelligence

    Effective corporate governance is essential for sustainable business growth. As regulatory scrutiny intensifies, companies must strengthen governance frameworks, including risk management and anti-corruption measures, to ensure compliance and long-term resilience. Weak governance can undermine trust, while a well-structured approach enhances competitiveness, drives value creation, and positions businesses for sustained success, according to GlobalData, a leading data and analytics company.

    GlobalData’s latest Strategic Intelligence report, “ESG – Governance Factors,” reveals that poor governance practices are at the root of many corporate scandals. In 2024, the US regulators criticized Boeing’s board for failing to hold management accountable for a deterioration of controls around safety standards. The company’s challenges predate the COVID-19 pandemic and labor strikes, with the 737 MAX crashes exposing serious lapses in production quality, oversight, and regulatory compliance.

    Pinky Hiranandani, Senior Strategic Intelligence Analyst at GlobalData, comments: “Governance failures have led to the demise of several companies. In 2024, Sam Bankman-Fried, founder and CEO of cryptocurrency exchange FTX, was sentenced to 25 years in prison for defrauding investors. The collapse of FTX underscores the critical importance of robust corporate governance and highlights the need for investors to prioritize governance risks in their due diligence processes.”

    Indian edtech startup Byju’s saw its valuation collapse from $22 billion in 2022 to just $1 billion in 2024. Aggressive acquisitions, coinciding with a post-pandemic slowdown in edtech demand, exacerbated its challenges. Governance concerns, including a lack of transparency in management, further eroded investor confidence, underscoring the critical role of sound governance in sustaining business stability.

    Hiranandani concludes: “Companies with poor corporate structure and risk management, weak internal controls, and unethical practices can quickly become the target of consumer and shareholder ire, which can jeopardize their future viability. As regulatory expectations rise, businesses must view governance not as a compliance burden but as a strategic advantage that fosters innovation, enhances reputation, and drives sustainable growth.”

    MIL OSI Economics –

  • MIL-OSI Economics: APAC VC funding: Deals volume falls across most of funding sizes in 2024, reveals GlobalData

    Source: GlobalData

    APAC VC funding: Deals volume falls across most of funding sizes in 2024, reveals GlobalData

    Posted in Business Fundamentals

    A total of 3,724 venture capital (VC) funding deals with disclosed funding value were announced in the Asia-Pacific (APAC) region during 2024. This represents a year-on-year (YoY) decline of 6.9% compared to the previous year, with a fall in deals volume in most of the VC funding size ranges, according to GlobalData, a leading data and analytics company.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Be it low-value deals* or high-value deals**, the decline in deals volume was witnessed across most of the funding size ranges in the region during the year. In fact, there was a double-digit decline in high-value VC deals volume. Meanwhile, VC deals valued over $500 million saw some marginal improvement in volume.”

    An analysis of GlobalData’s Deals Database reveals that the number of high-value VC deals declined by 24.1% from 112 in 2023 to 85 deals in 2024, whereas the volume of low-value VC deals fell by 2% from 2,604 in 2023 to 2,553 in 2024. Meanwhile, mid-size VC funding deals (valued >$10 million and ≤$100 million) volume declined by 15.3% from 1,282 deals in 2023 to 1,086 deals in 2024.

    Low-value deals continued to dominate and account for the largest chunk of deals volume in 2024. These deals accounted for a 68.5% share of the total number of VC deals with disclosed funding value announced in the APAC region last year.

    High-value VC deals accounted for a 2.3% share of the total number of VC deals with disclosed funding value announced in the region, while the share of mid-size VC funding deals stood at 29.2%.

    *Investment value less than or equal to $10 million

    **Investment value more than $100 million

    MIL OSI Economics –

  • MIL-OSI China: Announcement on Open Market Operations No.23 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.23 [2025]

    (Open Market Operations Office, February 7, 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 RMB183.7 billion through quantity bidding at a fixed interest rate on February 7, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB183.7 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年02月07日

    MIL OSI China News –

  • MIL-OSI Australia: Minister Rishworth interview on 3AW drive with Jacqui Felgate

    Source: Ministers for Social Services

    E&OE TRANSCRIPT

    Topics: NDIS; NDIS fraud; Investment in Saver Plus.

    JACQUI FELGATE, HOST:    I do want to touch base now, though, on the NDIS, because I think it’s a really important issue and it’s one that a lot of victims in this case and a lot of people with disabilities and special needs that needed help under the last system didn’t get it. It’s now in the hands of Amanda Rishworth, who’s the new Minister for the NDIS following the retirement of Labor MP Bill Shorten. So, for the first time on 3AW, she joins me now. Minister, really appreciate your time.

    AMANDA RISHWORTH, MINISTER FOR SOCIAL SERVICES:    Great to be with you.

    AMANDA RISHWORTH:    Well, what it means in practical terms is that if someone has a permanent and significant disability, what they can do is go to see a planner at the NDIS and they will make an assessment and give you funding to buy in a whole range of individualised supports. So, that might be therapy supports like physiotherapy, it might be personal care or nursing. It might be equipment like a wheelchair. Previously to the NDIS, people just used to get allocated a wheelchair or told to go to a certain place and that’s where they could get their physiotherapy. When the NDIS came in, you got funding in which the person with the disability could go and then find a provider and spend the money they were allocated to get that service. So, it provided a lot more control for people with disability. It has changed so many people’s lives, but it’s very individualistic, so it is what you need as an individual. And so it is quite complex at times and can be difficult to navigate, but it really has changed so many people’s lives because it’s provided an individualised support for people that need it.

    JACQUI FELGATE:    So, when you say complex, we do know the system has been fraught with problems to the point of alleged fraud as well. Last year, when we spoke to a lot of, particularly parents of young children, they felt like their funding had been reduced or cut unnecessarily. Are you going through all of those cases on an individual basis and can you reassure people that those who really need it are going to get the funding?

    AMANDA RISHWORTH:    Firstly, I would say that as Minister, the NDIS review process happens independently for me. But I can say and give your listeners reassurance, there haven’t been any changes around the rules in which young children are assessed. What there has been a change to is a list of what’s in and can be funded by the NDIS and what’s out of that list. And that was about making sure that the NDIS funds were actually used appropriately. There are a lot of things that were on that list that, you know, salt therapy was one of these things. There’s no evidence for that. But when it comes to children, there have been no changes around access and what can be funded under the scheme. There’s an individualised assessment to that and that’s really important. But there haven’t been any changes to what can be funded.

    JACQUI FELGATE:    And what about the rorts and the fraud? How can you guarantee that that won’t happen in the future?

    AMANDA RISHWORTH:    Look, some of the cases, particularly service providers that have been acting appallingly, was really shocking. So, we have, as under the previous Minister, set up what was called the Fraud Fusion Task Force, which actually brought together intel from a range of agencies, the AFP, the NDIA and a whole range of structures to deal with fraud. And so that continues do its work to make sure it’s identifying dodgy actors in this and hold them to account. And we have a number of ongoing investigations and referrals for prosecution. But some of the other work that’s been really important to make sure that this money gets used wisely is making sure people understand what can be funded and what can’t be, particularly service providers. They need to understand and give the right advice. So, the other element I’m really keen on is driving up quality. So, this isn’t just bad actors in the scheme, this is actually making sure that every participant, when they spend their NDIS money, get a high quality service, that there’s appropriate safeguards and protections in place as well.

    JACQUI FELGATE:    So, how do you think it got to that point, though, where we heard the most ridiculous examples and we heard the most desperate examples of people who really needed help but couldn’t get it? And then the rorts, like how did it allow over all these years, how did that get to that point, Minister?

    AMANDA RISHWORTH:    Well, people just weren’t paying attention. I mean, ultimately you heard stories the…

    JACQUI FELGATE:    The former Minister wasn’t paying attention?

    AMANDA RISHWORTH:    The former government wasn’t paying attention. I mean, when Minister Shorten came into this portfolio, he identified very quickly that there had been no checks and balances, that there hadn’t been proper oversight over this scheme. It had been left just to meander and there hadn’t been the appropriate protections put in place. So, Minister Shorten himself identified this very quickly and has stood up a whole range of oversight mechanisms to look at this. So, it really was the previous government…

    JACQUI FELGATE:    You can’t always blame the previous government, though, you have been in power for nearly four years.

    AMANDA RISHWORTH:    Well, you know about the challenges because we’ve identified them. You know about these cases that have happened over the last two years because they haven’t got away with it. I mean, that’s ultimately why, you know about these circumstances, why we’ve seen some of the articles in the paper, is because we have now got the oversight mechanisms to identify them and take them to court. So, we do need to maintain vigilance on this. It is critically important, but it’s also important that people don’t get dodgy service and there is quality services out there as well.

    JACQUI FELGATE:    Okay, so what’s the Saver Plus program and how’s that going to make a difference?

    AMANDA RISHWORTH:    The Saver Plus program is separate from the NDIS. This is a really important program where people that may be wanting to get a bit more financial capability to have matched savings with the ANZ Bank. We have just funded this program. It’s been going for 21 years. We’ve now extended their funding for another five years. It’s funded through the Brotherhood of St Laurence and really does support people become financially resilient and support them for really good saving habits. So, it’s a really good program. And I’m really pleased that today we’ve announced extra funding for that.

    JACQUI FELGATE:    Amanda Rishworth is the Minister for Social Services and the NDIS. Really appreciate your time, Minister.

    AMANDA RISHWORTH:    Thank you.

    MIL OSI News –

  • MIL-OSI Economics: Liquidity Adjustment Facility – Change in rates

    Source: Reserve Bank of India

    RBI/2024-25/109
    FMOD.MAOG.No.150/01.01.001/2024-25

    February 07, 2025

    All Liquidity Adjustment Facility (LAF) participants

    Madam/Sir,

    Liquidity Adjustment Facility – Change in rates

    As announced in the Monetary Policy Statement dated February 07, 2025, it has been decided by the Monetary Policy Committee (MPC) to reduce the policy repo rate under the Liquidity Adjustment Facility (LAF) by 25 basis points from 6.50 per cent to 6.25 per cent with immediate effect.

    2. Consequently, the standing deposit facility (SDF) rate and marginal standing facility (MSF) rate stand adjusted to 6.00 per cent and 6.50 per cent respectively, with immediate effect.

    3. All other terms and conditions of the extant LAF Scheme will remain unchanged.

    Yours sincerely,

    (G. Seshsayee)
    Chief General Manager

    MIL OSI Economics –

  • MIL-Evening Report: Misleading and false election ads are legal in Australia. We need national truth in political advertising laws

    Source: The Conversation (Au and NZ) – By Yee-Fui Ng, Associate Professor, Faculty of Law, Monash University

    An ad falsely depicting independent candidate Alex Dyson as a Greens member. ABC News/Supplied

    The highly pertinent case of a little-known independent candidate in the Victorian seat of Wannon has exposed a gaping hole in Australia’s electoral laws, which allow for misleading political advertisements in the lead-up to an election campaign. It’s all entirely legal and is already being exploited to try to shape the outcome of the coming federal election.

    Conservative activist group Advance Australia has widely distributed digitally altered flyers attacking independent Alex Dyson, who is challenging senior frontbencher Dan Tehan.

    It’s part of a campaign to damage Dyson’s electoral prospects after he helped slash the Liberal Party’s margin in the seat at the last election to less than 4%.

    The material depicts Dyson ripping open his shirt in a “Superman” pose, to reveal a t-shirt bearing the official Greens party logo.

    Dyson is not a Greens candidate. So why are the ads permissible? And what does it tell us about the urgent need for truth in political advertising laws to prohibit material that lies to voters?

    Why are misleading ads allowed?

    Section 329 of the Electoral Act prohibits the publication of material likely to mislead or deceive an elector in casting their vote.

    But in a narrow interpretation by the Electoral Commission, the ban only applies after an election has been called by the prime minister.

    That means the Wannon ad, and maybe countless others like them from across the political spectrum, could be distributed for months without repercussion.

    Advance Australia has form when it comes to misleading material.

    At the 2022 election, it displayed placards that falsely depicted independents David Pocock and Zali Steggall as Greens candidates.

    In that case, the Electoral Commission ruled that because the corflutes were deployed during the campaign proper, they breached the electoral laws.

    It is absurd and dangerous to democracy to have a law that only bans ads that mislead voters in casting their vote during the official election period, and allows them to proliferate unchecked at other times.

    It should not be permissible to lie to voters just because of a technicality. In an era of permanent campaigning, voters can be influenced by political messages received well before a campaign officially starts.

    Furthermore, there is little justification for allowing political parties to mislead while banning corporations from engaging in misleading and deceptive conduct. If consumers and shareholders are protected from fraudulent and dishonest claims, why not electors, who have the solemn task of deciding who runs the country?

    How can the electoral laws be fixed?

    There are available remedies to the problem, starting with reforming the Electoral Act. It should be clearly specified that the provision on misleading electors applies to any material calculated to affect the result of an election, regardless of when it is distributed.

    Broader truth in political advertising provisions should also be introduced. This would cover a wider range of factually misleading ads beyond the existing narrow ambit of misleading a voter in the casting of their vote.

    If the Electoral Commission determines the material is false or misleading to a material extent, it would order a withdrawal and a retraction.

    Importantly, the laws would be confined to false or misleading statements of fact. Parties and other political players would still be free to express their opinions. Freedom of speech would not be impeded.

    Parliamentary stalemate

    The Albanese government has taken tentative steps to fix the problem. Truth in advertising laws introduced to parliament last year would have forced Advance Australia to retract and correct its dishonest flyers in Wannon.

    However, the bill was pulled due to a lack of support.

    Any doubters on the opposition benches should look to the experience in South Australia and the ACT, which have both enacted truth in advertising laws.

    My research has shown these laws operate effectively in both jurisdictions.

    What’s at stake

    Spreading political lies has the potential to cause harm on multiple fronts.

    The first is the damage to the candidate or political party in terms of their reputation and electoral prospects.

    The second danger is to the integrity of the electoral process if lies cause people to switch their votes to such an extent that it changes election outcomes.

    The spread of disinformation has become prevalent in an era of “fake news” and “alternative facts”, exacerbated by the rise of social media.

    In 2024, the World Economic Forum’s Global Risks Report ranked misinformation and disinformation as the most severe risk facing the world over the next two years.

    False information can alter elections, affect voting participation, silence minorities, and polarise the electorate. It is time to reform our electoral laws to mitigate the significant dangers to our democratic system.

    Yee-Fui Ng received funding from the Susan McKinnon Foundation on a project regarding the operation and effectiveness of truth in political advertising laws.

    – ref. Misleading and false election ads are legal in Australia. We need national truth in political advertising laws – https://theconversation.com/misleading-and-false-election-ads-are-legal-in-australia-we-need-national-truth-in-political-advertising-laws-249279

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Grassley Questions U.S. Trade Representative Nominee Jamieson Greer at Senate Finance Committee Hearing

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley

    WASHINGTON – Sen. Chuck Grassley (R-Iowa), a senior member and former chairman of the Senate Finance Committee, today spoke with United States Trade Representative (USTR) nominee Jamieson Greer about the need to move away from China on trade and unlock new export markets for long term stability.

    During the hearing, Grassley emphasized the importance of reducing or eliminating Brazil’s tariff on American ethanol. Grassley also questioned Greer about USTR’s cooperation with the Department of Commerce on trade matters. 

    Video and excerpts of his questions follow. 

    [embedded content]

    VIDEO

    Brazilian Tariffs on American Ethanol:

    “Brazil is a leading competitor with the United States on agriculture. One example is that Brazil has displaced the United States as the world leader in soybean production.

    “Another issue with Brazil that I brought up to your predecessor, Ms. Tai, is the drastically unfair advantage Brazil has on ethanol. U.S. exporters face an 18% tariff on ethanol going to Brazil. However, Brazilian ethanol enjoys nearly duty-free access to the U.S. market.  

    “I hope you will address this trade imbalance with Brazil that Ambassador Tai wasn’t successful in doing: taking action to reduce or eliminate this harmful tariff on American ethanol.”

    The Role of USTR and the Department of Commerce: 

    “Now that you and Mr. Lutnick have been nominees for several weeks, I’d like to know exactly how much authority do you have on trade matters relative to Mr. Lutnick and other cabinet members?” 

    Moving Away from China and Unlocking New Markets: 

    “I’d like to make a statement and see if you agree: 

    “While I think it is important to hold China to its obligations under the Phase 1 Agreement, I also fear it may keep us reliant on the Chinese markets. So, we need to be looking around the world at other markets. 

    “We need to balance our short-term profitability with long term stability.  

    “I have for a long time voiced my own concerns about unfair trade practices by China, and I hope that you and President Trump are successful in holding China accountable on issues including fentanyl, intellectual property theft and government subsidization of industries.  

    “That said, I believe we must pursue freer trade with other countries to create new markets so that we can move away from China without losing even more global market share of our commodities to Brazil and other countries. 

    “The free trade agreements that were negotiated under George W. Bush have resulted in large trade surpluses in key industries like agriculture and manufacturing. I think we need more free trade, and I know that President Trump is more interested in bilateral agreements than multi-state agreements. 

    “I think if we look away from Brazil and South Korea and Japan and China and [the European Union] as being problem countries for us on trade issues. But there’s so many other countries where, if we have these agreements — and I use George W. Bush as an example and his negotiator Allen Johnson — about 13 countries, probably six or seven different agreements with countries you don’t even think much about being significant in world trade, we’ve increased tremendously with these free trade agreements, our surpluses with those countries in trade.”

    MIL OSI USA News –

  • MIL-OSI USA: Murphy, Blumenthal Call For Investigation Into RealPage Algorithm Potentially Hiking Rents For Military Families, Siphoning Money From U.S. Military

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    HARTFORD—U.S. Senators Chris Murphy (D-Conn.) and Richard Blumenthal (D-Conn.), on Thursday joined their colleagues in sending a letter to U.S. Secretary of Defense Pete Hegseth calling for an investigation into whether landlords may be using property management software company RealPage’s services to price gouge military families.

    The U.S. Department of Defense (DoD) provides servicemembers with a Basic Allowance for Housing (BAH) to cover the costs of owning or renting privately managed housing, an allowance that is adjusted periodically by region to keep up with housing costs. In 2023, DoD spent $24 billion on housing allowances for servicemembers. 

    There are long-held concerns that landlords are raising rents to pocket these BAH increases, rather than raising rents because of market conditions. One recent study even found that it was “common for landlords to base their rent on the BAH for a particular rank,” so servicemembers see no difference in their yearly income. 

    Services provided by RealPage may enable landlords to raise rents even more aggressively, to the detriment of military families, by allowing landlords to exchange proprietary information about lease terms and rents and to set prices using non-public information.

    DOJ and state attorneys generals have already alleged that RealPage contributed to excessive rental costs in several places where DoD raised housing allowances, including Houston, San Diego, Spokane, and Wilmington. Florida has also opened an investigation into whether RealPage is violating antitrust laws; notably, military housing rents increased across Florida during 2022 and 2023 including in Miami, West Palm Beach, Volusia County, and Fort Myers Beach. 

    In addition to hurting military families, unsustainable housing prices have negative implications for recruitment and retention for our military. Increasing housing costs are forcing families to delay moves and choose housing in unsafe neighborhoods or with low-quality conditions. Unlike civilian families, military families “do not have the opportunity to stabilize their housing costs due to frequent relocation.” 

    A recent Government Accountability Office report on military housing confirmed the negative impacts of high housing prices, including servicemembers taking on debt or commuting long distances for quality housing. 

    “The Department of Defense has a responsibility to protect military families from predatory private housing companies and ensure that taxpayer dollars meant for military families are not being pocketed by unscrupulous landlords,” the senators wrote. 

    The senators requested that DoD provide information on whether algorithms like RealPage’s are artificially driving up housing prices for military families by February 13, 2025. 

    U.S. Senators Elizabeth Warren (D-Mass.), Ruben Gallego (D-Ariz.), Catherine Cortez Masto (D-Nev.), Tammy Duckworth (D-Ill.), Andy Kim (D-N.J.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Bernie Sanders (I-Vt.), Tina Smith (D-Minn.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Peter Welch (D-Vt.), and Ron Wyden (D-Ore.) also signed the letter.

    Full text of the letter is available HERE and below.

    Dear Secretary Hegseth:

    In the wake of the Department of Justice’s (DOJ) recent antitrust lawsuit against RealPage, joined by ten states across the country,1 we write with significant concern about whether companies and landlords using RealPage may be price gouging military families.

    The Department of Defense (DoD) provides service members a Basic Allowance for Housing (BAH) to cover the costs of owning or renting privately managed housing.2 But families continue to report that BAH rates are not keeping up with rising housing costs.3

    In fiscal year 2023, DoD spent $24 billion on BAH.4 There are long-held concerns, however, that landlords are raising rents to pocket these BAH increases, rather than raising rents because of market conditions.5 One recent study found that it was “common for landlords to base their rent on the BAH for a particular rank.”6 These findings raise significant concerns that landlords are profiteering by taking taxpayer money that is intended to support military families.

    Services provided by RealPage may enable landlords to raise rents even more aggressively to the detriment of military families. RealPage’s services YieldStar and AIRM help landlords exchange proprietary information about lease terms and rents in order to maximize revenue.7

    In August 2024, the Justice Department and attorneys general in eight states filed an antitrust lawsuit alleging that RealPage engaged in an “unlawful scheme to decrease competition among landlords in apartment pricing and to monopolize the market for commercial revenue management software that landlords use to price apartments.”8 Last month, two more state attorneys general joined the suit, and the Justice Department expanded the lawsuit to six of the nation’s largest landlords.9 RealPage’s tactics allegedly included exerting significant pressure on landlords to accept their recommendations to increase prices, including an “auto accept” feature which automatically adjusted rents for property managers.10 If a landlord or property manager rejected a recommendation, a “pricing advisor” from RealPage allegedly reached out and pushed them to take the recommendation.11 In 2022, a vice president of RealPage credited their software for increasing apartment rents by over 14.5%.12

    In 2022, DoD increased the BAH for 28 military housing areas where rental housing costs increased by an average of more than 20 percent.13 The lawsuit of DOJ and state attorneys general alleges that RealPage contributed to excessive rental costs in several of these places, including San Diego,14 Wilmington,15 and Houston.16 Similarly, in 2021, DoD selected Spokane, Washington as one of the five military housing areas to receive a temporary 20 percent BAH hike;17 the antitrust suit alleges that RealPage contributed to drastic increases in rent prices in this area, where Fairchild Air Force Base and Joint Base Lewis McChord are located.18 Florida has also opened an investigation into whether RealPage is violating antitrust laws; notably, military housing rents increased across Florida during 2022 and 2023 including in Miami, West Palm Beach, Volusia County, and Fort Myers Beach.19

    In addition to harming military families, unsustainable housing prices have negative implications for recruitment and retention for the U.S. Armed Forces. Increasing housing costs have forced some families to delay permanent change of station moves and choose housing in unsafe neighborhoods or in unsatisfactory conditions. A recent military family lifestyle survey found that “housing costs remain the top contributing factor to financial stress for active-duty famil[ies]” and that “higher out-of-pocket housing costs may influence military families’ likelihood to recommend military service.”20 A majority of those who live in civilian housing “continue to pay well over

    $200 per month in housing costs out of pocket”21 on top of their BAH. These predatory housing practices are especially detrimental to military families because “unlike civilian peers, military families do not have the opportunity to stabilize their housing costs due to frequent relocation.”22

    A recent Government Accountability Office (GAO) report on military housing confirmed the negative impacts of high housing prices on military families, finding that “some service members reported having to take on debt or commute long distances to afford quality housing.”23 GAO determined that existing DoD guidance is “insufficient to address military population effects on local housing market.”24 “GAO’s statistical analyses found that counties with higher military populations were associated with having higher median rents and rent-to-income ratios.”25 Local government officials also acknowledged the largely insufficient housing supply and issues with affordability.26 In its report, GAO recommended that DoD develop a comprehensive list of critical housing areas, regularly update said list, obtain and use feedback on the financial and quality-of- life effects of limited supply or unaffordable housing on service members, develop a plan for DoD to respond to and address those effects, and clearly define the roles and responsibilities of installation commanders and military housing offices in addressing housing needs.27

    The Department of Defense has a responsibility to protect military families from predatory private housing companies and ensure that taxpayer dollars meant for military families are not being pocketed by unscrupulous landlords. We seek information that DoD may have on whether algorithms such as those used by RealPage are artificially driving up housing prices for military families, as well as members of the community who do not receive BAH.28 We are also interested in DoD’s broader strategy to ensure landlords are not using RealPage’s services to price gouge military families. Therefore, we ask that you provide answers to the following questions by February 17, 2025.

    1. How effective have DoD’s targeted BAH temporary hikes been at ensuring that military families have access to safe, clean, and affordable housing?
    2. How many reports has DoD received, if any, involving landlords increasing rents in response to BAH increases?
    3. Has DoD conducted any assessments or made any determinations regarding whether landlords in military communities are using RealPage’s YieldStar or AIRM products to price gouge military families?
      1. If so, what have these assessments found?
        1. How many military families rent from landlords who use YieldStar or AIRM products?
        2. Have these products contributed to rent increases for these families?
        3. What information or data has DoD collected to determine the impact of rent-setting algorithms on BAH rates?
        4. What information or notifications has DoD provided to service members or military families in these communities to help prevent them from being gouged by landlords using these algorithms?
      1. If not, why not?
    1. What language, if any, does DoD include in its housing agreements with private companies to ensure programs like RealPage’s YieldStar or AIRM products are not used to influence their rent prices?
    2. Does DoD policy allow private military housing companies to collect data on renters and share it with other landlords, whether through RealPage or through other means?
    3. How does DoD protect military families’ personal information from being disclosed by private housing companies who provide military housing?

    Thank you for your attention to this important matter.

    MIL OSI USA News –

  • MIL-OSI USA: Murphy, Blumenthal, Colleagues Reintroduce Legislation to Eliminate Trump’s Outsourcing Tax Breaks

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    February 06, 2025

    WASHINGTON—U.S. Senators Chris Murphy (D-Conn.), a member of the U.S. Senate Health, Education, Labor, and Pensions Committee, and Richard Blumenthal (D-Conn.) on Thursday joined U.S. Senator Sheldon Whitehouse (D-R.I.) and 15 of their Senate colleagues in reintroducing the No Tax Breaks for Outsourcing Act, legislation that would reverse the Trump tax law’s breaks for offshoring jobs and profits. The announcement comes as President Trump’s 25 percent tariffs on Canada and Mexico remain under negotiation, while Republicans push to expand those offshoring incentives in their reconciliation bill.

    The No Tax Breaks for Outsourcing Act would level the playing field for American companies by requiring multinational corporations to pay the same tax rate on profits earned abroad as they do in the United States. The Trump tax law created a special tax rate for offshore profits that is half the domestic rate. Since the law’s passage, studies have found that multinationals have increased foreign, rather than domestic investment. Extending the Trump tax law would mean maintaining this half-off rate, which is otherwise scheduled to slightly increase.

    If passed, the senators’ legislation would boost U.S. economic competitiveness by encouraging domestic investment, leveling the playing field for domestic companies, and bringing the U.S. into compliance with the global minimum tax agreement. The Joint Committee on Taxation found that large U.S. multinationals paid an average tax rate of just 7.8 percent the year after the Trump law passed, lower than their foreign competitors. They would still pay less than their competitors with a higher rate on foreign profits. Moreover, with over 140 countries moving to implement the global tax agreement, U.S. and foreign multinationals alike will be subject to the new minimum tax whether the U.S. complies or not. Failure to join, however, will mean the revenue fills foreign coffers instead of the U.S. Treasury.  

    U.S. Senators Richard Durbin (D-Ill.), Jack Reed (D-R.I.), Tammy Baldwin (D-Wis.), Elizabeth Warren (D-Mass.), Jeff Merkley (D-Ore.), Ed Markey (D-Mass.), Brian Schatz (D-Hawaii), John Fetterman (D-Pa.), Chris Van Hollen (D-Md.), Ruben Gallego (D-Ariz.), Mazie Hirono (D-Hawaii), Martin Heinrich (D-N.M.), Cory Booker (D-N.J.), Tina Smith (D-Minn.), and Tammy Duckworth (D-Ill.) also cosponsored the legislation.

    The No Tax Breaks for Outsourcing Act would repeal offshoring incentives by:

    • Equalizing the tax rate on profits earned abroad to the tax rate on profits earned here at home.  The bill would end the preferential tax rate for offshore profits by eliminating the deductions for “global intangible low-tax income (GILTI)” and “foreign-derived intangible income” and applying GILTI on a per-country basis.  
    • Repealing the 10 percent tax exemption on profits earned from certain investments made overseas.  In addition to the half-off tax rate on profits earned abroad, the Trump tax law exempts from tax a 10 percent return on tangible investments made overseas, like plants and equipment.  The legislation would eliminate the zero-tax rate on certain investments made overseas. 
    • Treating “foreign” corporations that are managed and controlled in the U.S. as domestic corporations.  Ugland House in the Cayman Islands is the five-story legal home of over 18,000 companies – many of them actually American companies in disguise.  The bill would treat corporations worth $50 million or more and managed and controlled within the U.S. as the American entities they in fact are, and subject them to the same tax as other U.S. taxpayers.
    • Cracking down on inversions by tightening the definition of expatriated entity.  This provision would discourage corporations from renouncing their U.S. citizenship.  It would deem certain mergers between a U.S. company and a smaller foreign firm to be a U.S. taxpayer, no matter where in the world the new company claims to be headquartered. Specifically, the combined company would continue to be treated as a domestic corporation if the historic shareholders of the U.S. company own more than 50 percent of the new entity. 
    • Combating earnings stripping by restricting the deduction for interest expense for multinational enterprises with excess domestic indebtedness.  Some multinational groups reduce or eliminate their U.S. tax bills by concentrating their worldwide debt, and the resulting interest deductions, in U.S. subsidiaries.  The bill would disallow interest deduction for U.S. subsidiaries of a multinational corporation where a disproportionate share of the worldwide group’s debt is located in the U.S. entity, a tactic commonly known as “earnings stripping.”  
    • Eliminating tax break for foreign oil and gas extraction income.  Oil and gas extraction income earned abroad gets an even further break on the already half-off rate other industries pay on offshore profits.  

    Full text of the bill is available HERE.

    ###

    MIL OSI USA News –

  • MIL-OSI China: Bank of England cuts interest rate to 4.5%

    Source: China State Council Information Office

    The British central bank announced on Thursday that it would cut the interest rate from 4.75 percent to 4.5 percent, citing concerns about stagnant growth.

    The decision was made by the Monetary Policy Committee of the Bank of England (BoE), which voted 7-2 to cut rates. Two committee members called for a bigger rate cut of half a percentage point.

    December’s inflation rate dropped from 2.6 percent to 2.5 percent, with core inflation falling from 3.5 percent to 3.2 percent, while services inflation experienced an even bigger drop from 5 percent to 4.4 percent, providing a base for a potential interest rate cut.

    The BoE said that the economy’s potential growth rate had dropped from 1.5 percent to 0.75 percent year-on-year. The bank also indicated that while it expects last October’s Budget to boost economic growth by 0.75 percent, thanks largely to greater public investment, the National Insurance rise will weigh down on activity, particularly by reducing employment.

    MIL OSI China News –

  • MIL-OSI China: Housing sector likely to see better days ahead

    Source: China State Council Information Office

    The positive buying sentiment in the new-home market across major Chinese cities has greatly boosted confidence and expectations for a strong sales season in March and April, said industry experts on Thursday after digesting the home transaction data of the Spring Festival holiday.

    The Chinese New Year holiday started on Jan 28 and wrapped up on Tuesday. According to official data, the 28 major Chinese cities monitored by the China Index Academy reported an 8 percent growth in daily new-home transaction space year-on-year.

    More specifically, Guangzhou, Guangdong province witnessed a 47 percent year-on-year surge in new home trades during the Spring Festival holiday, with Beijing recording a moderate growth of 5 percent. Strong growth was also seen in second-tier cities including Nanjing, Jiangsu province; Nanchang, Jiangxi province; and Wuhan, Hubei province.

    “It is expected that transaction volume of both new and pre-owned homes in these cities would welcome an evident rebound after the holiday,” said Li Yifeng, deputy director of research at the China Index Academy.

    “The overall housing market saw stable performance during this year’s Chinese New Year, despite the fact that the holiday is a conventional low season for home transactions. As a result, a significant rebound is highly expected after the holiday,” Li said.

    The positive feedback in the market — coupled with factors like warm weather, year-end bonuses, stable work and life, and promotions launched by developers — is likely to persuade more potential homebuyers to make purchases, Beijing Business Today reported.

    “The increase in the number of visits is encouraging, which indicates the previous policies are taking effect and homebuying demand is still strong,” said Cao Xiaoning, a real estate agent for a residential project in Beijing’s Shijingshan district developed by China Overseas Land and Investment Ltd, a unit of Beijing-based China State Construction Engineering Corp.

    Yan Yuejin, deputy head of the Shanghai-based E-House China R&D Institute, said the improved performance over the holiday shows the real estate market adjustment has bottomed out and is headed for a course of stabilization.

    “Currently, the property market is fully adjusting itself, and we expect homebuyers to become more optimistic regarding the sector’s outlook, and an early spring warming may be around the corner,” Yan said.

    Both new and pre-owned homes reported positive growth before the Chinese New Year holiday in January. In the 30 cities China Index Academy surveyed, new home traded space grew 4 percent year-on-year between Jan 1 and Jan 27, and the 20 key cities’ existing home trade volume surged 19 percent from a year ago during the same period.

    “With people returning to work after the holiday, their homebuying plans are also getting back on the right track. Therefore, a home transaction rebound is due in the near term,” Li said.

    Li added that considering the low base of the first quarter in 2024, new home traded volume is likely to be stable in the first quarter, and home prices in the secondary market will hopefully become stabilized.

    “But the market is still in need of policy support for its sustained stabilization,” said Li.

    MIL OSI China News –

  • MIL-OSI China: Foreign visitors experience China’s mobile payment environment

    Source: China State Council Information Office

    Tourists from France enjoy a soup dumpling at Yuyuan Garden Mall in Shanghai, east China, Jan. 21, 2025. [Photo/Xinhua]

    Foreign visitors in China experienced a smoother, more convenient travel environment during this year’s Spring Festival, thanks to improvements to the country’s mobile payment systems.

    The latest data from the People’s Bank of China shows that the volume of transactions made by international tourists during the Chinese New Year holiday, which ran from Jan. 28 to Feb. 4 this year, surged significantly from last year. The total number of cross-border transactions processed by China UnionPay and NetsUnion Clearing Corporation increased 124.54 percent, and the total transaction value grew 90.49 percent.

    This jump in payment activity reflects not only the growing appeal of China as a travel destination but also the seamless integration of mobile payment systems for foreign visitors.

    In cities like Shanghai, foreign tourists can now use international credit cards or mobile payment apps such as Alipay for shopping, dining and sightseeing, which allowed tourists to enjoy the cultural experiences on offer fully during the Chinese New Year.

    German tourist Carla Uhrmacher, who visited the famous Yuyuan Garden in the eastern Chinese metropolis of Shanghai, was impressed by the ease with which she could use her mobile payment app to buy traditional Chinese crafts and souvenirs. “Whether using Visa or Mastercard, or mobile payment systems, it’s all very seamless,” she noted, highlighting how accessible these payment methods are for international visitors.

    This Spring Festival saw an increase in payment transactions and a significant rise in the number of foreign visitors to China. Inbound arrivals during this year’s Spring Festival hit a record high, with a 150 percent year-on-year leap reported, Lin Jian, a spokesperson for China’s foreign ministry, told a press conference on Wednesday, citing data from third-party platforms.

    While popular destinations such as Beijing, Shanghai and Guangzhou continued to attract large numbers of foreign travelers during the holiday, cities like Suzhou, Xi’an, Chengdu and Xiamen emerged as new favorites for international tourists using mobile payment services, Alipay data shows.

    This surge in international visitors can be largely attributed to China’s ongoing efforts to enhance its payment services for foreigners. The country has made it easier for international travelers to use their foreign credit cards by allowing them to link these cards directly to popular Chinese mobile payment platforms like Alipay and WeChat Pay.

    An increasing number of international e-wallets are now also supported for use in China. Alipay, for example, now allows users to link 13 different overseas e-wallets from countries like the Philippines, Thailand and Singapore.

    Though cashless payment services have improved significantly, foreign tourists can also take advantage of a network of nearly 70,000 bank branches, 320,000 ATMs, and currency exchange facilities across the country.

    This year’s Spring Festival also saw a notable increase in foreigner spending, particularly in cities like Beijing, where tourists from various countries flocked to shopping areas such as Qianmen Street to purchase souvenirs, local teas and trendy clothing.

    This spending boom is backed by figures, with the number of transactions made by foreign visitors on WeChat increasing 134 percent compared to last year’s Spring Festival, and with the total spent via Alipay rising 150 percent during the first five days of the holiday. These figures reflect not only the convenience of mobile payments but also the growing enthusiasm of foreign tourists to purchase Chinese goods and immerse themselves in local culture.

    An increasingly open China is becoming an even more attractive destination for international tourists as Chinese New Year is celebrated globally, and as payment services continue to improve, analysts in China have noted. And these improved payment experiences will make China travel even smoother and more enjoyable for international visitors.

    MIL OSI China News –

  • MIL-OSI China: Electronic information manufacturing sector posts fast growth

    Source: China State Council Information Office

    People try out Huawei smartphones in Shenzhen, south China’s Guangdong Province, Sept. 10, 2024. [Photo/Xinhua]

    China’s electronic information manufacturing sector registered robust growth in 2024, with the added value of major enterprises in the sector increasing 11.8 percent from the previous year, official data showed on Thursday.

    The combined operating revenues of the sector’s major firms rose 7.3 percent year on year to 16.19 trillion yuan (about 2.26 trillion U.S. dollars) in 2024, according to data from the Ministry of Industry and Information Technology.

    During the period, the combined profits of these companies increased 3.4 percent year on year to 640.8 billion yuan, the data showed.

    Among major products, a total of 1.67 billion mobile phones were produced in 2024, a year-on-year increase of 7.8 percent. About 1.25 billion smartphones were manufactured, growing 8.2 percent from the previous year.

    Major companies in the sector are those with a main annual business revenue of at least 20 million yuan.

    MIL OSI China News –

  • MIL-OSI China: 3rd supply chain expo to be held in July

    Source: China State Council Information Office 3

    This photo shows the smart vehicle exhibition area at the second China International Supply Chain Expo (CISCE) in Beijing, capital of China, Nov. 28, 2024. [Photo/Xinhua]

    The third China International Supply Chain Expo will be held in Beijing from July 16 to 20 this year, the China Council for the Promotion of International Trade (CCPIT) said on Thursday.

    With a total exhibition area of 120,000 square meters, the expo features six major exhibition areas — namely advanced manufacturing, clean energy, smart vehicles, digital technology, healthy living and green agriculture.

    To date, nearly 200 companies have signed up to participate, the CCPIT revealed.

    As the world’s first national-level exhibition focusing on supply chains, the expo is an internationally shared public product. First held in 2023, the expo has contributed to building more secure, stable, open and inclusive global industrial and supply chains, according to the CCPIT.

    MIL OSI China News –

  • MIL-OSI China: Amazon posts net income, revenue growth in Q4 results

    Source: China State Council Information Office 3

    Amazon.com, Inc. on Thursday announced its financial results for the fourth quarter ending Dec. 31, 2024, with net sales of 187.8 billion U.S. dollars, up 10 percent year on year.

    The company’s net income increased to 20.0 billion dollars in the fourth quarter, or 1.86 dollars per diluted share, compared with 10.6 billion dollars, or 1.00 dollars per diluted share, in the fourth quarter of 2023.

    Its net income increased to 59.2 billion dollars in the full year of 2024, or 5.53 dollars per diluted share, compared with 30.4 billion dollars, or 2.90 dollars per diluted share, in 2023.

    Amazon’s net sales increased 11 percent to 638.0 billion dollars in 2024, compared with 574.8 billion dollars in 2023.

    The company’s operating cash flow increased 36 percent to 115.9 billion dollars for the trailing 12 months, compared with 84.9 billion dollars for the trailing 12 months ending Dec. 31, 2023.

    Its free cash flow increased to 38.2 billion dollars for the trailing 12 months, compared with 36.8 billion dollars for the trailing 12 months ending Dec. 31, 2023.

    “The holiday shopping season was the most successful yet for Amazon,” said Andy Jassy, president and CEO of Amazon.

    The introduction of new Trainium2 artificial intelligence chip, the foundation models in Amazon Nova, and the next edition of Amazon SageMaker are among the most remarkable innovation delivered across Amazon’s businesses, he said, adding that these are substantial enablers in the emerging technology environment.

    MIL OSI China News –

  • MIL-OSI Economics: Money Market Operations as on February 06, 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) 5,62,738.64 6.29 3.50-8.00
         I. Call Money 14,447.56 6.45 5.15-6.60
         II. Triparty Repo 3,61,611.60 6.25 6.10-6.35
         III. Market Repo 1,84,089.88 6.33 3.50-6.60
         IV. Repo in Corporate Bond 2,589.60 6.94 6.45-8.00
    B. Term Segment      
         I. Notice Money** 69.50 6.28 6.10-6.35
         II. Term Money@@ 368.50 – 6.60-6.70
         III. Triparty Repo 2,346.00 6.35 6.30-6.40
         IV. Market Repo 1,000.00 6.50 6.50-6.50
         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 Thu, 06/02/2025 1 Fri, 07/02/2025 21,674.00 6.51
         (b) Reverse Repo          
    3. MSF# Thu, 06/02/2025 1 Fri, 07/02/2025 163.00 6.75
    4. SDFΔ# Thu, 06/02/2025 1 Fri, 07/02/2025 1,22,506.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,00,669.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 24/01/2025 14 Fri, 07/02/2025 1,62,096.00 6.51
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,328.42  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     1,70,424.42  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     69,755.42  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on February 06, 2025 8,95,198.92  
         (ii) Average daily cash reserve requirement for the fortnight ending February 07, 2025 9,12,544.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ February 06, 2025 21,674.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on January 10, 2025 -40,102.00  
    @ 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.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/2093

    MIL OSI Economics –