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Category: Business

  • MIL-OSI Video: President Christine Lagarde speaks about motifs for future euro banknotes

    Source: European Central Bank (video statements)

    Watch President Christine Lagarde talk about the motifs chosen by the ECB’s Governing Council to illustrate the two possible themes for future euro banknotes: “European culture: shared cultural spaces” and “Rivers and birds: resilience in diversity”. We’ll be launching a contest later this year to help us select final designs in 2026.

    For more information, see the future banknotes page.
    https://www.ecb.europa.eu/euro/banknotes/future_banknotes/html/index.en.html

    https://www.youtube.com/watch?v=TROLB0vNSnI

    MIL OSI Video –

  • MIL-OSI United Kingdom: UK fire engines chosen to modernise Iraq fleet

    Source: United Kingdom – Government Statements

    Iraq’s Ministry of Interior to purchase over 60 British-made vehicles.

    • Exports minister announces that key UK export deal will help Iraq fight fires.

    • UK will provide vital support to Iraq through the provision of fire engines, with biggest overhaul of Iraqi fleet this century being financed by a UK Export Finance loan.

    • Independent businesses in Yorkshire and Ayrshire are to supply these vehicles for use across Iraq.

    Two British businesses are delivering one of Iraq’s biggest-ever investments into its emergency services thanks to a c. $31 million loan from UK Export Finance (UKEF), the government’s export credit agency.

    The loan allows Iraq’s Ministry of Interior to purchase 62 British-made fire-fighting vehicles each capable of carrying up to 6,500 litres of water and 500 litres of foam.

    Promoting investment into local businesses and employers, the partnership supports this government’s Plan for Change to boost economic growth across all regions.

    Ayrshire-headquartered Emergency One and Batley-based Angloco have been selected to supply vehicles for Iraq’s Civil Defence Directorate.

    Emergency One, the UK’s leading manufacturer of fire and rescue vehicles, supplies over 90% of the UK’s fire and rescue services and continues to grow its international presence. Angloco, a well-established SME, exports to over 70 countries worldwide. Both companies bring significant expertise and innovation to this contract, further strengthening their impact in the Gulf region.

    Frequent outbreak of fires in Iraq, particularly during the summer months, can cause devastating effect to businesses, communities, and key infrastructure.

    By helping buyers to purchase UK exports more easily, UKEF loans secure large contracts with favourable payment terms for British businesses – including small businesses likely to need payment upfront before they can deliver a contract. 

    J.P. Morgan acted as both Sole Mandated Lead Arranger and agent bank for the loan.

    Gareth Thomas, UK Minister for Exports, said:

    We have a Plan for Change to help grow our economy and support workers right across the country, and that’s precisely what these deals are about.

    Shining a spotlight on cutting edge tech and highly skilled jobs, this announcement shows the UK’s exporting potential and manufacturing strength.

    His Excellency Abdul Amir Al-Shammari, Iraq Minister of Interior, said:

    The Government of Iraq is contracting with British companies through the UKEF Loan to import specialized firefighting vehicles for the Directorate of Civil Defence.

    This will contribute significantly to the strengthening of the Directorate’s capabilities through the use of high-quality vehicles. This demonstrates the continuous support received by the Directorate by the UK and will improve our ability to tackle fire incidents.

    John Meakin, Global Head of Export Finance at J.P. Morgan, said:

    J.P. Morgan is delighted to support the finance of firefighting equipment from the UK to the Republic of Iraq.

    This is the latest UKEF deal giving businesses the support they need to deliver contracts and drive change at home in the UK and overseas in Iraq. In 2023, a UKEF guarantee helped British firms to secure over £100 million in export contracts to support the installation of 350km in drainage infrastructure around Hillah city.

    Contact 

    Media enquiries:

    Updates to this page

    Published 31 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Asian Development Blog: As Nations Reshore, ASEAN Should Explore Trade, Digitalization and Connectivity

    Source: Asia Development Bank

    The Association of Southeast Asian Nations should leverage trade, tourism, and digitalization to foster economic resilience and sustainable growth amid global economic uncertainty.

    There is a growing sense that the global economy is moving towards a more competitive era as countries are reshoring. Many are bringing their supply chains back home to reduce risks from disruptions. Others are deploying tariffs and other barriers to advance their domestic agenda. 

    Issues around climate change and rivalry around frontier technology (artificial intelligence, big data, internet of things) are increasingly being discussed as issues of national security. 

    To address these issues, the 10 countries of the Association of Southeast Asian Nations (ASEAN) must work collectively to achieve their goals of a better economic future of their people and the protection of their national interest. A particular focus on trade, digitalization and connectivity is needed.

    Trade is likely to be focused on services, which covers cross-border transactions under finance, telecom, travel, transport and other business services, like professionals and consultancy services. Each of these plays an important role in ASEAN countries in terms of job creation and economic growth. Post-COVID-19, in the face of a slowdown in goods trade, trade in services showed positive momentum and even positioned ASEAN as a net exporter of services. 

    Travel services, particularly, hold promise for ASEAN as it underscores ASEAN’s attractiveness as a tourist destination. Hence, while aiming to deliver a competitive tourism sector, the ASEAN countries are expected to collectively work on tourism enablers like infrastructure, skills development, marketing promotion, product development and others to increase intra-regional travel in ASEAN, which currently constitutes more than 40% of ASEAN’s total international tourism, adding to the economic resilience of the region.

    The digital economy (including e-commerce, e-health, e-payments, customs automation) at the regional level is expected to grow from $300 billion to almost $1 trillion by 2030. This is reported to reach $2 trillion if the right kind of digital connectivity policies are put in place through regional cooperation. 

    Member countries should consider their collective actions as a regional public good, where benefits from greater trade, travel, digitalization, and connectivity will deliver on sustainable and resilient outcomes for people residing in the region.
     

    The Digital Economy Framework Agreement is a key element of this cooperation. It centers around digital standards, data flow, cybersecurity, digital trade, talent mobility and other digital public infrastructure. 

    Additional benefits from digital cooperation are expected through positive climate impact, creating $12-30 billion in social cost savings, enhancing resilience, creating new employment and improving accessibility of people to educational and healthcare resources. 

    Finally, connectivity that is both physical and institutional in nature is expected to serve the economic competitiveness of ASEAN countries, raising their capacity to engage better with bigger economies of Asia and elsewhere. Sustainable infrastructure – clean energy, low-carbon transport and improved energy efficiency for urban infrastructure – is gaining traction. 

    Combining this with greater cooperation around digitalization, seamless cross-border logistics and supply chains, facilitating the cross-border movement of goods, services and people will safeguard the environment and foster resilience of the countries in the region. 

    The collective thinking about sustainable infrastructure is helpful for ASEAN member countries that have committed to the Paris Agreement and have submitted their Nationally Determined Contributions targeting net zero carbon dioxide (CO2) emissions by 2050 and net zero greenhouse gas emissions by 2065, to limit temperature increases of no more than 1.5°C.

    It is opportune for ASEAN policymakers to think afresh on ways to work together. Although there are signs of economic fragmentation at a global level, there are also areas that require cross-border cooperation. 

    Economic independence has grown over time in the region. With emerging pressing issues of digitalization and climate change, mismanaged interdependence may result in costs and lead to economic setbacks. 

    Therefore, for the next term of ASEAN regional cooperation 2045, the member countries should consider their collective actions as a regional public good, where benefits from greater trade, travel, digitalization, connectivity will deliver sustainable and resilient outcomes for people in the region. 
     

    MIL OSI Economics –

  • MIL-OSI Russia: Rosneft confirms its leadership in sustainable development

    Translartion. Region: Russians Fedetion –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    Rosneft has been recognized as the best company in the oil and gas sector included in the calculation base of the Moscow Exchange-RAEX ESG Balanced Index based on the results of 2024.

    The index was launched in 2023. It is formed once a year and consists of 15 companies with the highest values in the field of sustainable development from the RAEX rating agency. The index is calculated based on the RAEX ESG ranking, which, based on the results of 2024, included a total of 144 companies from Russia, Kazakhstan and Mongolia, 18 of which represent the oil and gas industry.

    The basis of Rosneft’s strategy is to build a business that takes into account the highest requirements in the field of industrial safety and environmental protection. Since 2007, the company has been publishing an annual Sustainable Development Report in accordance with the international standards of the Global Reporting Initiative (GRI).

    Over the past five years, Rosneft has allocated more than 440 billion rubles for environmental protection, of which over 270 billion rubles were “green” investments and about 170 billion rubles were expenses for wastewater treatment, land reclamation and other environmental work. This allowed achieving impressive results in improving the environmental friendliness of the business: emissions into the atmosphere were reduced by 25%, discharges into water bodies were reduced by 10%, and the area of disturbed land was reduced by 14%. As part of the corporate program, more than 800 hectares of contaminated “historical heritage” lands were reclaimed.

    Rosneft develops and implements its own modern technologies, including in the field of atmospheric air quality control. Thus, specialists of the Company’s laboratory have developed new methods of atmospheric air control, which have been certified and entered into the Federal Information Fund for Ensuring the Uniformity of Measurements. Their implementation has increased the efficiency of atmospheric air control at a number of enterprises by 35%.

    In 2024, RAEX highly praised the Company’s activities in managing ESG risks and opportunities: Rosneft became the only Russian oil and gas company with a high ESG rating of AA, while the management component rating received the highest rating of AAA. This once again confirmed the Company’s leading position in the field of sustainable development, as well as the high quality of information disclosure. In addition, the corporate development agency “Da-Strategy” awarded Rosneft, the only Russian oil and gas company, the highest level rating of A “Leader of Corporate ESG Practice in the Russian Federation”.

    Reference:

    In December 2018, Rosneft became the first Russian company to publicly confirm its commitment to the 17 UN Sustainable Development Goals and integrate them into its corporate strategy.

    Department of Information and Advertising of PJSC NK Rosneft January 31, 2025

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

    MIL OSI Russia News –

  • MIL-OSI Russia: A delegation from the Republic of Indonesia visited NSU on a working visit

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    Today, NSU was visited by a delegation from the Republic of Indonesia headed by the Ambassador Extraordinary and Plenipotentiary to the Russian Federation and the Republic of Belarus, Mr. Jose Antonio Morato Tavares. The meeting was attended by the rector of Novosibirsk State University, Academician of the Russian Academy of Sciences Mikhail Fedoruk.

    In his welcoming speech, Mikhail Fedoruk emphasized that expanding cooperation with the Republic of Indonesia in the educational and cultural spheres is part of the general vector for developing relations between the region and the largest island state in Southeast Asia.

    — As the Governor of Novosibirsk Oblast Andrey Travnikov noted, in terms of trade turnover, Indonesia already ranks 5-6 among all importing and exporting countries with which Novosibirsk Oblast works. And, of course, there are reserves for further development of cooperation. Therefore, of course, we are interested in expanding our ties, including academic internships, student exchanges, and training Indonesian students here.

    — As for strengthening our cooperation in the field of education, we are interested in specialties related to science, technology, mathematics. We know that Russia is very strong in these areas. The purpose of our visit to Novosibirsk State University is to get acquainted with the university in order to further increase the number of students sent to study in Russia, — said Mr. Jose Antonio Morato Tavares.

    Currently, NSU has four students from the Republic of Indonesia studying, two of them in the General Medicine program. Faculty of Medicine and Psychology, one – on Faculty of Natural Sciences and one – on Faculty of Mechanics and MathematicsDuring the visit to NSU, the students met with the ambassador and shared their impressions of studying at the university.

    — I was looking for a university that taught natural sciences well. When I was choosing a place to study, I learned about Akademgorodok and NSU, and decided to enroll here. I am very excited about the meeting with the ambassador, thanks to her, many Indonesians will learn about NSU and Novosibirsk. I hope that in the future our university will have more students from Indonesia, — said Yusfonda Dellastefani-Laventosa, a third-year student of the Faculty of Natural Sciences at NSU.

    — I have been studying at NSU for 5 years now, and I really like it! I hope that our countries will build good relations. I am a little worried, because this is my first time at such a meeting, especially with the Ambassador of Indonesia, I think everything will go well, — shared his emotions 5th-year student of the Faculty of Medicine and Psychology of NSU Ibrahim Fat Audi.

    The delegation of the Republic of Indonesia worked in the Novosibirsk Region for two days. During the visit, a meeting was held with the Governor of the Novosibirsk Region Andrey Travnikov, the delegation visited Akadempark and several Novosibirsk companies, and also took part in the opening of the exhibition “Necklace of the Equator”, dedicated to the 75th anniversary of the establishment of diplomatic relations between the Russian Federation and the Republic of Indonesia. The exhibition will be held in the Novosibirsk State Art Museum until March 2.

    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 United Kingdom: E3 Foreign Ministers’ statement on the implementation of legislation against United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA)

    Source: United Kingdom – Government Statements

    Statement from the Foreign Ministers of the UK, France and Germany on the implementation of legislation against United Nations Relief and Works Agency for Palestine Refugees in the Near East.

    Joint statement on behalf of the Foreign Ministers of the UK, France and Germany:

    We, the Foreign Ministers of the United Kingdom, France and Germany reiterate our grave concern regarding the Government of Israel’s implementation of legislation forbidding any contact between Israeli state entities, officials and the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA); and prohibiting any UNRWA presence within Israel and East Jerusalem.

    We ask the Government of Israel to abide by its international obligations and live up to its responsibility to ensure full, rapid, safe and unhindered humanitarian assistance and the provision of basic services to the civilian population. We urge the Government of Israel to work with international partners, including the UN, to ensure continuity of operations. No other entity or UN Agency currently has the capacity or infrastructure to replace UNRWA’s mandate and experience.

    We reiterate our support for UNRWA’s UN-mandate to provide essential services and humanitarian assistance to Palestine refugees in the Occupied Palestinian Territories.  UNRWA is the primary service provider to Palestinian refugees in the West Bank, including East Jerusalem, and is an integral part of the response to the humanitarian crisis in Gaza.

    We condemn in the strongest possible terms the brutal and unjustified terror attacks by Hamas on Israel on October 7, 2023. We call on UNRWA to continue on its path of reform demonstrating its commitment to the principle of neutrality, in line with the independent review of April 2024, led by Ms. Catherine Colonna. All alleged involvement of UNRWA staff in appalling acts in support of 7 October and subsequent events must be thoroughly investigated.

    We reiterate our full endorsement and support for the ceasefire agreement reached between Israel and Hamas. It is vital that we now see the release of all remaining hostages. We welcome the notable increase of humanitarian assistance reaching Gaza since the beginning of the ceasefire and call on all parties to ensure its continuity. We are grateful for the extensive efforts of the US, Egypt and Qatar in mediating the agreement and urge all parties to engage constructively in negotiating the subsequent phases of the deal to help ensure its full implementation and a permanent end to hostilities. 

    We will play our full part in the coming days and weeks to seize the opportunity of this ceasefire and to ensure it leads to a credible pathway towards a two-state solution in which Israelis and Palestinians can live side by side in peace.

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    Updates to this page

    Published 31 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: President Lai’s response to Pope Francis’s 2025 World Day of Peace message  

    Source: Republic of China Taiwan

    Details
    2025-01-17
    President Lai meets former US Vice President Mike Pence
    On the afternoon of January 17, President Lai Ching-te met with former Vice President of the United States Mike Pence. In remarks, President Lai thanked former Vice President Pence for his contributions to the deepening of Taiwan-US relations, noting that he actively helped to strengthen Taiwan-US cooperation and facilitate the normalization of military sales to Taiwan, and did his utmost to deepen the Taiwan-US economic partnership. The president indicated that former Vice President Pence also spoke up for Taiwan on numerous occasions at international venues, backing Taiwan’s international participation. President Lai expressed hope for a stronger Taiwan-US partnership to maintain peace and stability throughout the world, and that the two sides can advance bilateral exchanges in such areas as the economy, trade, and industry. A translation of President Lai’s remarks follows: I am delighted to welcome former Vice President Pence and Mrs. Karen Pence to the Presidential Office. Former Vice President Pence is not only an outstanding political leader in the US, but also a staunch supporter of Taiwan on the international stage. On behalf of the people of Taiwan, I would like to take this opportunity to extend our deepest gratitude to former Vice President Pence for his contributions to the deepening of Taiwan-US relations. Thanks to former Vice President Pence’s strong backing, ties between Taiwan and the US rose to unprecedented heights during President Donald Trump’s first administration. Former Vice President Pence actively helped to strengthen Taiwan-US security cooperation and facilitate the normalization of military sales to Taiwan, helping Taiwan reinforce its self-defense capabilities. He also did his utmost to deepen the Taiwan-US economic partnership. Former Vice President Pence also paid close attention to the military threats and diplomatic isolation faced by Taiwan. He spoke up for Taiwan on numerous occasions at international venues, taking concrete action to back Taiwan’s international participation. We were truly grateful for this. As we speak, China’s political and military intimidation against Taiwan persist. China and other authoritarian regimes, such as Russia, North Korea, and Iran, are continuing to converge and present serious challenges to democracies around the globe. At this moment, free and democratic nations must come together to bolster cooperation. I believe that a stronger Taiwan-US partnership can be an even more powerful force in maintaining peace and stability throughout the world. Former Vice President Pence has previously supported the signing of a trade agreement between Taiwan and the US. Taiwan looks forward to continuing to work with the new US administration and Congress to advance bilateral exchanges in such areas as the economy, trade, and industry. This is the first time that former Vice President Pence and Mrs. Pence are visiting Taiwan, and their visit is significantly meaningful for Taiwan-US exchanges. On behalf of the people of Taiwan, I want to extend a warm welcome. Moving forward, I hope we will jointly realize even more fruitful achievements through Taiwan-US cooperation. Former Vice President Pence then delivered remarks, thanking President Lai for his hospitality on his and his wife’s first visit to Taiwan, saying that it is an honor to be here to reaffirm the bonds of friendship between the people of America and the people of Taiwan, which are strong and longstanding. The former vice president indicated that the American people admire the people of Taiwan and all that has been accomplished in a few short decades for Taiwan to rise to one of the world’s preeminent economic powers and free societies. He said that he is grateful for President Lai’s courageous and bold leadership of Taiwan, and grateful to be able to express the support of the overwhelming majority of the American people for this alliance. Former Vice President Pence indicated that the values shared by Taiwan and the US, including freedom, the rule of law, and respect for human rights, bind us together in a partnership that transcends geographic boundaries and cultures. He then assured President Lai that China’s increasingly aggressive posture in the Taiwan Strait and across the Indo-Pacific, for the values and interests that both sides share, is deeply concerning to the American people. Former Vice President Pence stated that America is a Pacific nation, and is committed to the status quo, adding that they recognize it is China that wants to change the status quo that America, Taiwan, and other allies in the region want to preserve, which has created an environment of extraordinary growth and prosperity. The former vice president concluded by once again thanking President Lai and his team for their gracious hospitality and conveying best wishes to him and the people of Taiwan. Former Vice President Pence then assured President Lai that just as Taiwan will never surrender its freedom, he will continue to be a voice for a strong US-Taiwan relationship in the defense and the benefit of Taiwan, the US, and the free world. Later that day, Vice President Bi-khim Hsiao hosted a banquet for former Vice President Pence and his delegation at Taipei Guest House to thank him for his longstanding friendship and staunch support for Taiwan-US ties.  

    Details
    2025-01-17
    President Lai meets delegation to 60th Inaugural Ceremonies of US president and vice president
    On the morning of January 16, President Lai Ching-te met with Taiwan’s delegation to the 60th Inaugural Ceremonies of the President and Vice President of the United States. In remarks, President Lai stated that democratic Taiwan stands united, working hard to deepen Taiwan-US ties together. He then entrusted the delegation with three missions: to convey best wishes from the people of Taiwan, convey our firm commitment to democracy, and help Taiwan-US relations reach a new milestone. A translation of President Lai’s remarks follows: The 60th Inaugural Ceremonies of the President and Vice President of the US will be held on January 20. I want to thank Speaker Han Kuo-yu (韓國瑜), president of the Legislative Yuan, for accepting my invitation to lead our nation’s representative delegation to the event. I also thank Legislative Yuan Members Ko Chih-en (柯志恩), Wang Ting-yu (王定宇), Ko Ju-chun (葛如鈞), Lee Yen-hsiu (李彥秀), Chen Kuan-ting (陳冠廷), Kuo Yu-ching (郭昱晴), and Chen Gau-tzu (陳昭姿) for joining this visit to the US to attend the inauguration of President Donald Trump and Vice President J.D. Vance. We have gathered together today despite differences in party affiliation because in democratic Taiwan, while parties may compete domestically, when it comes to engagement externally, they stand united and share responsibility, working hard to deepen Taiwan-US ties and strive for the best interests of the nation. We share the value of defending freedom and democracy, and we share the goal of advancing peace and prosperity. Today, we engage with the world together as those from the same country – the Republic of China (Taiwan). In this complex and volatile new international landscape, and as the nation faces difficulties and challenges, I want to stress that in Formosa, there is no hostility that cannot be let go, and no hardship that cannot be overcome. Unity is the most important, and I hope that Taiwan can stand united, because there is true strength in unity. Democratic Taiwan must stand united in engaging with the world and initiate exchanges with confidence. On that ground, I am entrusting this delegation with three key missions. First, convey best wishes from the people of Taiwan. Just last year, Taiwan and the US celebrated the 45th anniversary of the passage of the Taiwan Relations Act. And on May 20, the US sent a senior bipartisan delegation to congratulate me and Vice President Bi-khim Hsiao on our inauguration. As the leader of this cross-party delegation, Speaker Han must clearly convey the well-wishes of the people of Taiwan, congratulate President Trump and Vice President Vance on their inauguration, and wish success to the new administration and prosperity to the US. Second, clearly convey the firm commitment of the people of Taiwan to democracy. The theme of these inaugural ceremonies is “Our Enduring Democracy: A Constitutional Promise.” Taiwan and the US share the universal value of democracy and are staunch allies. I hope that the delegation can faithfully convey the firm commitment to democracy that the people of Taiwan have, which will not change even in the face of authoritarian threats. Taiwan is willing to stand side by side with the US and other members of the democratic community to defend the sustainable development of global democracy and prevent the expansion of authoritarianism. Third, help Taiwan-US relations reach a new milestone. In recent years, Taiwan-US relations have continued to grow, with the first agreement under the Taiwan-US Initiative on 21st Century Trade having formally taken effect last month. This morning, the House of Representatives also passed the US-Taiwan Expedited Double-Tax Relief Act. I hope that the delegation can help Taiwan-US relations reach a new milestone through these exchanges so that our relations continue to grow, our cooperation expands even more, and so that we can achieve even greater success after the new administration takes office. Four years ago, Taiwan’s representative to the US inaugural ceremonies was Vice President Hsiao, who was then our representative to the US. Everyone has a lot to learn from her. I have specially invited everyone here to converse so that you can draw from Vice President Hsiao’s experience and ensure an even smoother visit. Washington, DC was also hit by a rare blizzard recently, and the weather has been very cold, so make sure to stay warm. I am sending everyone off with hand warmers and thermoses so that you can bring some warmth from Taiwan with you on your journey. And I ask that Speaker Han exercise his wisdom to help generate some warmth between the ruling and opposition parties through cooperation, which they can then bring back to Taiwan. Let us unite to give our all for diplomacy so that we can unite to give our all for Taiwan. I wish the delegation a smooth and safe trip, and hope your missions can be carried out successfully. Speaker Han then delivered remarks, stating that it was an honor to be invited by President Lai to organize a delegation to represent our nation at the 60th Inaugural Ceremonies of the President and Vice President of the US in Washington, DC, and express the Republic of China’s sincere and cordial best wishes. The Legislative Yuan’s president has assumed this important task numerous times in the past, he said, not only to represent the government of the Republic of China, but also to take on the mission of conveying the voices of 23 million people. He went on to say that he is honored to take up the baton, lead eight legislators to the US to attend this celebration that will attract global attention, and express sincere best wishes to newly elected President Trump, Vice President Vance, and the new administration’s team. As enjoined by President Lai, he hopes the delegation’s trip will help open a new chapter in Taiwan-US exchanges. Speaker Han stated that the US is the most free and democratic country in the world. He noted that in 1776 in the US Declaration of Independence, founding father Thomas Jefferson propounded the concept of “unalienable rights,” and emphasized that the people have a right to freedom and the pursuit of happiness, democratic ideas that have long been rooted in the people’s hearts. Today, he said, democracy is also embedded in the DNA of Taiwan’s 23 million people, and this hard-won democratic achievement is a result of the concerted efforts of our pioneering predecessors, thinkers, and activists over the past 100 years. Speaker Han stated that during this visit, the Legislative Yuan delegation hopes to convey the voice of Taiwan as a democratic country. Taiwan’s security, he said, is like the four legs of a table: The first leg is defending the Republic of China, the second is defending freedom and democracy, the third is maintaining Taiwan-US relations, and the fourth is maintaining cross-strait peace. The delegation will travel to the US amidst severe cold weather to show that we value our relationship with the US, and our citizens have great hopes and expectations. Speaker Han stated that this will be a cross-party delegation of eight legislators, all of whom have a strong sense of mission. He hopes that all democratic nations will acknowledge Taiwan’s importance, and pay attention to Taiwan’s 23 million people. The delegation, he said, will do its utmost to convey the goodwill and warmth that the people of Taiwan give to each and every one of our good friends.

    Details
    2025-01-17
    President Lai confers decoration on former Lithuanian Foreign Minister Gabrielius Landsbergis
    On the morning of January 14, President Lai Ching-te conferred the Order of Brilliant Star with Special Grand Cordon upon former Minister of Foreign Affairs Gabrielius Landsbergis of the Republic of Lithuania in recognition of his remarkable contributions to deepening Taiwan-Lithuania relations. In remarks, President Lai thanked former Minister Landsbergis for standing firmly with Taiwan and remaining a staunch defender of democratic values, yielding fruitful cooperative results. The president expressed hope that the two countries will engage in even more cooperation and exchanges in such areas as the economy, trade, technology, and culture, and continue to advocate for the values of freedom and democracy so that together we can contribute even more to our nations’ development and to peace and prosperity throughout the world. A translation of President Lai’s remarks follows: Today, by conferring the Order of Brilliant Star with Special Grand Cordon upon former Minister Landsbergis, we recognize his outstanding contributions during his time as foreign minister of Lithuania. On behalf of the people of Taiwan, I thank him for the key role he has played in deepening Taiwan-Lithuania relations. During the COVID-19 pandemic, thanks to the efforts of former Minister Landsbergis, Lithuania was the first European nation to donate vaccines to Taiwan. On that occasion, he stated that “freedom-loving people should look out for each other.” His statement was very moving and left a deep impression on many Taiwanese people. We will never forget it. Former Minister Landsbergis has continued to express the spirit of those words through his concrete actions. With his staunch support, Taiwan and Lithuania have mutually established representative offices. Moreover, our representative office in Lithuania was the first in Europe to incorporate “Taiwan” in its name. As for bilateral cooperation, Taiwan and Lithuania have seen fruitful results in such fields as semiconductors, laser technology, finance, and medicine. Be it overcoming the challenges posed by the pandemic or resisting expanding authoritarianism, former Minister Landsbergis has stood firmly with Taiwan and remained a staunch defender of democratic values. We greatly admire and appreciate his spirit. Today, authoritarian regimes continue to converge, posing threats and challenges to democracies around the world. Taiwan, Lithuania, and other democratic countries must come closer together, drawing on the strength of unity, so as to jointly safeguard freedom and democracy and uphold the rules-based international order. Looking ahead, we hope that Taiwan and Lithuania will engage in even more cooperation and exchanges in such areas as the economy, trade, technology, and culture. Let us continue to advocate for the values of freedom and democracy. Together, we can contribute even more to our nations’ development and to peace and prosperity throughout the world. In closing, I once again thank you, former Minister Landsbergis, for your support and for all that you have done for Taiwan. We welcome you and your wife to visit often. I wish you both a smooth and successful visit in Taiwan, and hope you leave with lasting memories.    Former Minister Landsbergis then delivered remarks, saying that it is a great honor to receive the decoration today. He noted that only partially can he accept the honor, as there have been many people who worked together with him in the ministry and in the whole country who support the people of Taiwan and see the benefit of supporting democracy in Taiwan. He often says that in Lithuania they remember well the fight for their freedom, and just today, he mentioned, he was shown the permanent exhibition in the Presidential Office, where he saw similar pictures of Taiwanese people fighting for democracy. He emphasized that not even one generation has passed since these events took place here in Taipei or similar events took place in Vilnius. Former Minister Landsbergis said that decision-makers in the Lithuanian government are either people who were themselves fighting for freedom, or, as in his case, those who were sitting on the shoulders of parents who were fighting for freedom. So for them, he underlined, freedom, democracy, liberty, and sovereignty are very real concepts that they cherish, not just things read about in a history book. He said that this is the main connector between Lithuania and Taiwan, a feeling of freedom and support for each other. Former Minister Landsbergis stated that in the face of authoritarians who do not wish us prosperity, who do not wish us freedom and future achievements, what he expects from the future is that the friendship, collaboration, and mutual support between Lithuania and Taiwan will inspire others to join in. This, he said, will make other countries not be afraid to support freedom and democracy, and will allow our group of friends to continue to grow. Lithuanian history, the former minister said, is difficult, and a big part of it was fighting for their freedom. He explained that during the 19th century when Lithuania was part of Russia’s empire, they had several revolutions and uprisings with the aim of becoming free, and that they were fighting for that freedom alongside Poland and Belarus. He then applied a phrase that they used in the revolution of 1864 – “for your freedom and ours,” meaning that they will continue to fight for their freedom while helping Taiwan fight for ours. Also in attendance at the ceremony were former Minister Landsbergis’ wife Dr. Austėja Landsbergienė and Lithuanian Representative to Taiwan Paulius Lukauskas.

    Details
    2025-01-17
    Presidential Office thanks White House for its statement on enduring US commitment to Indo-Pacific region
    On January 10 (US EST), the US White House released a statement on the United States’ Enduring Commitment to the Indo-Pacific Region, in which it reaffirms its position of using a range of methods to help Taiwan maintain a sufficient self-defense capability so as to maintain peace and stability in the Indo-Pacific region and across the Taiwan Strait. Presidential Office Spokesperson Karen Kuo (郭雅慧) on January 11 expressed sincere gratitude to the US government for taking concrete actions to fulfill its security commitments to Taiwan, advancing the close Taiwan-US security partnership, and supporting Taiwan in its efforts to enhance its self-defense capabilities and resilience. Spokesperson Kuo stated that the deepening Taiwan-US security partnership is a critical cornerstone for peace and stability in the Indo-Pacific region. She noted that Taiwan, as a force for good and regional stability, will continue to work alongside like-minded countries to strengthen defense resilience as we jointly defend the values of freedom and democracy and ensure the peace, stability, and prosperity of the Indo-Pacific region.

    Details
    2025-01-17
    President Lai meets Ronald Reagan Presidential Foundation and Institute delegation
    On the morning of January 9, President Lai Ching-te met with a delegation from the Ronald Reagan Presidential Foundation and Institute (RRPFI). In remarks, President Lai thanked RRPFI President David Trulio and members of RRPFI for remaining undaunted by China’s threats and sanctions, and lending great support to Taiwan. He emphasized that facing the continued expansion of authoritarianism, Taiwan will actively implement the Four Pillars of Peace action plan to preserve regional peace and stability, safeguard the values of democracy and freedom, and advance worldwide prosperity and development. President Lai expressed hope that they can continue to collaborate to promote the development of Taiwan-United States relations and put RRPFI’s principles into practice. A translation of President Lai’s remarks follows: First, let me warmly welcome President Trulio, who is leading this delegation from RRPFI to Taiwan. And on behalf of all the people of Taiwan, I want to extend our heartfelt condolences in wake of the ongoing fires in California. I hope that they can be put out swiftly so that harm is reduced, and I hope that those who are injured are able to receive timely help. President Reagan was a staunch friend of Taiwan. The Six Assurances he put forward in 1982 and the Taiwan Relations Act passed by Congress in 1979 form the bedrock of Taiwan-US relations. The incorporation of the Six Assurances into the Asia Reassurance Initiative Act of 2018 further established bipartisan, bicameral, and cross-agency US support for Taiwan. With authoritarianism continuing to expand, President Reagan’s conviction of peace through strength is proving to be especially crucial as democracies unite to protect freedom, democracy, peace, and the rules-based international order. RRPFI honors President Reagan’s legacy by championing such principles as individual liberty, economic opportunity, global democracy, and national pride. Many of you have served previous US administrations as part of national security teams, and many of you are longstanding friends of Taiwan. I sincerely hope that we can continue to collaborate to promote the development of Taiwan-US relations and put RRPFI’s principles into practice. I also want to extend particular gratitude to President Trulio and RRPFI for lending great support to Taiwan. Undaunted by China’s threats and sanctions, you warmly welcomed former President Tsai Ing-wen to the Ronald Reagan Presidential Library during her stopover in California in April 2023 and arranged a delegation to visit Taiwan in October of the same year. As for the continued expansion of authoritarianism, Taiwan will meet it head on, and uphold President Reagan’s spirit of peace through strength. We will actively implement the Four Pillars of Peace action plan by strengthening national defense, building economic security, and demonstrating stable and principled cross-strait leadership, as well as promoting values-based diplomacy. Bolstering Taiwan’s cooperation with the US and other democracies will preserve regional peace and stability, safeguard the values of democracy and freedom, and advance worldwide prosperity and development. President Trulio then delivered remarks, first thanking President Lai for his warm welcome and saying that he and the delegation are deeply honored to be with him in Taiwan, along with so many top leaders in his administration. President Trulio added that they are proud to advance President Reagan’s legacy and timeless principles, and our collective shared values. President Trulio indicated that President Reagan visited Taiwan twice before he became president. Acknowledging what President Lai stated, he noted that it was President Reagan’s administration that developed what became known as the Six Assurances, a framework that to this day serves as the foundation of relations between the US and Taiwan. More broadly, President Trulio said, President Reagan knew that America’s strength and the strength of its allies and friends are key to global peace, prosperity, and security. He said President Reagan also knew that societies that provide economic opportunity and democracy offer a better life for their citizens. In fact, he stated, President Reagan said that freedom is not the sole prerogative of a lucky few, but the inalienable and universal right of all human beings. President Trulio went on to say that Taiwan’s open society and thriving democracy make the commitment to freedom here plain for all to see. President Trulio noted that RRPFI had the honor of visiting Taipei in October 2023, when the delegation met then-President Tsai. He said that their return visit to Taipei at the start of 2025 comes at a crucial time, and that part of what makes that timing so significant is that there will be a new administration inaugurated in Washington in about 10 days. Over the course of their visits to Taiwan, President Trulio said, it has been plain to see that Taiwan stands strong as a vibrant democracy, with political parties sharing a commitment to democratic principles. He said it is also plain to see that Taiwan’s advanced economy and global technological leadership present positive opportunities for the US. He added that it is also plain to see that the security situation across the Taiwan Strait demands a continued commitment to peace through strength, including through robust partnership with Taiwan and sustained US deterrence. President Trulio stated that he looks forward to addressing the opportunities and challenges facing Taiwan and the US, and is confident that together, we will further well into the future our shared commitment to freedom and democracy, economic opportunity, and security and stability. The delegation also included RRPFI Washington Director Roger Zakheim, Director of the Alexander Hamilton Center for Classical and Civic Education at the University of Florida William Inboden, Palantir Technologies Senior Counselor Jamie Fly, former Deputy White House Staff Secretary Catherine Bellah, Anduril Industries Policy Director Dustin Walker, Hudson Institute Adjunct Fellow Alexander Benard, RRPFI Policy Director Rachel Hoff, and RRPFI Digital Strategy and Communications Director James Rogers.

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

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: African Mining Week (AMW) to Showcase Africa’s Rising Investment Potential in the Mining Sector

    Source: Africa Press Organisation – English (2) – Report:

    CAPE TOWN, South Africa, January 31, 2025/APO Group/ —

    International investments in Africa’s mining sector are surging as global demand for both traditional and emerging minerals continues to grow. For example, Australian mining firms saw their asset value in Africa reach $60 billion in 2024, while Canadian firms’ assets climbed to $37 billion. China also launched an ambitious $50 billion, three-year investment strategy targeting increased stakes in Africa’s most lucrative opportunities including in the mining sector.

    The upcoming African Mining Week Summit, scheduled for October 1 – 3 in Cape Town, will highlight profitable opportunities within Africa’s mining industry and reinforce the continent’s attractiveness as an investment destination for global mining financiers.

    Untapped Mineral Deposits

    Africa’s vast, untapped mineral resources present potential for new investments. The continent holds 30% of the world’s critical minerals (https://apo-opa.co/3ClkUGd) essential for the energy transition, including the largest global reserves of cobalt (in the Democratic Republic of Congo) and over 80% of the world’s platinum group metals in South Africa. The continent accounts for more than 44% of global diamond production, while its share of the gold market continues to grow, with markets such as Ghana, Mali and Zimbabwe ramping up production.

    Supportive Policies and Investor-Friendly Terms

    African governments are enhancing the investment climate within the mining industry by enacting new policies and modernizing fiscal terms to streamline processes and reduce delays in project rollouts. Zambia, for instance, introduced a New Mining Tax Regime in 2023, improving transparency and reducing tax evasion, as the country targets a copper production target of three million tons by 2032. Mali has also experienced increased investment flows following its 2023 Mining Code, with global players such as HummingGold, B2Gold and Ganfeng committing to new lithium and gold projects. Malawi has also taken steps to attract investments by launching its Mining Regulatory Authority in October 2024, supported by the Mines and Minerals Act of 2023.

    Improved Mining and Export Infrastructure

    African nations are enhancing cooperation with global partners to improve mining production and mineral transportation infrastructure. For example, investment firm Africa Finance Corporation has announced that the Zambia-Lobito Railway project will commence (https://apo-opa.co/3Q0RcJL) construction in early 2026, to facilitate the efficient and cost-effective transportation of critical minerals from East and Southern Africa to global markets. Upgrades to the Tanzania-Zambia Railway (https://apo-opa.co/3PXFeAE) and South Africa’s modernization of ports through freight operator, Transnet, are further enhancing the region’s mining investment prospects.

    Rich Mining History

    Africa’s established history as a global mining hub has fostered the development of key infrastructure and a skilled workforce that international mining firms rely on to meet global mineral demand. Mining remains a cornerstone of many African economies, attracting both traditional and emerging players keen to expand their operations and leverage the continent’s resources. With its rich deposits and ongoing improvements in policy and infrastructure, Africa maintains its position as a key investment destination for the global mining industry.

    African Mining Week will serve as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energy 2025 conference (https://apo-opa.co/4htJMdI) from October 1 -3. in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com

    MIL OSI Africa –

  • MIL-OSI Africa: African Development Bank Partners with AXIAN Telecom to Accelerate Africa’s Digital Transformation

    Source: Africa Press Organisation – English (2) – Report:

    ABIDJAN, Ivory Coast, January 31, 2025/APO Group/ —

    The African Development Bank (www.AfDB.org) has approved a $160 million senior corporate loan to support AXIAN Telecom to expand digital access and financial inclusion in nine African countries. The loan will accelerate the modernization and expansion of AXIAN Telecom‘s network infrastructure, with a focus on 4G and 5G deployment; while also driving digital innovation in its operations, enabling them to expand to more countries.

    AXIAN Telecom, headquartered in Mauritius, serves 42.9 million mobile subscribers, 11.4 million data users, and 15.2 million mobile financial service users, positioning itself as a leader in Africa’s digital transformation.

    A key focus of the funding is to address gender disparities in access to financial services. Over $10 million will be dedicated to empowering 22,000 women entrepreneurs in Madagascar through AXIAN’s Mvola platform. Additionally, a $2.5 million grant will enhance financial literacy and credit access for 34,000 women businesses across Madagascar, Tanzania, and Senegal, enabling them to grow and transition into the formal economy.

    Highlighting the initiative’s importance, the African Development Bank’s Vice President for Private Sector, Infrastructure and Industrialization, Solomon Quaynor, said: “This investment reflects the African Development Bank’s commitment to driving Africa’s digital transformation and fostering inclusive growth. By supporting AXIAN Telecom’s growth plan, we are bridging the digital divide, creating opportunities for millions across the continent, and fostering innovation.”

    Quaynor described the African Development Bank’s support as part of a partnership to accelerate progress, advance financial inclusion—particularly for women—and drive sustainable development, adding, “Together, we are building the infrastructure and ecosystems that will enable Africa to thrive in the digital age.”

    AXIAN Telecom CEO, Hassan Jaber said, “We are honoured to partner with an organisation that shares our vision of advancing Africa’s digital economy. The funding from the African Development Bank not only underscores the immense digital potential of the continent but also highlights the critical role of collaboration in driving sustainable development.”

    Jabaer emphasized that the support from the African Development Bank will build on the company’s ongoing initiatives, such as expanding affordable internet access and fostering innovative solutions to bridge the digital divide. while aligning seamlessly with the recent transformation of our mobile businesses under the Yas brand (http://apo-opa.co/4hx2sd7).

    « Yas represents our commitment to empowering a young, dynamic, and digitally connected population, embracing every opportunity with a resounding ‘YES.’ Together, this collaboration will help drive meaningful change across Africa’s digital landscape, furthering our shared mission of digital and financial inclusion,” he added.

    The partnership aligns with the African Development Bank’s “Hi-5” development priorities, particularly “Industrialize Africa” and “Integrate Africa”, which enhance connectivity, foster cross-border digital services, and support financial inclusion.

    MIL OSI Africa –

  • MIL-OSI Europe: Results of the ECB Survey of Professional Forecasters for the first quarter of 2025

    Source: European Central Bank

    31 January 2025

    • Headline inflation expectations revised up for 2025 but otherwise unchanged; longer-term expectations (for 2029) remain at 2.0%
    • Expectations for HICP inflation excluding energy and food unchanged for 2025 and 2026; longer-term expectations revised down slightly to 1.9%
    • Real GDP growth expectations revised down by 0.2 and 0.1 percentage points for 2025 and 2026 respectively, but longer-term expectations unrevised
    • Unemployment rate expectations unchanged for 2025 and 2026, but longer-term expectations revised down slightly

    Respondents’ expectations for headline inflation, as measured by the Harmonised Index of Consumer Prices (HICP), were 2.1% for 2025, 1.9% for 2026 and 2.0% for 2027. Expectations were revised up from the previous survey (conducted in the fourth quarter of 2024) by 0.2 percentage points for 2025 but unchanged for 2026. Expectations for core HICP inflation, which excludes energy and food, were unchanged for 2025 and 2026. Longer-term expectations for headline inflation were unchanged at 2.0%, while those for core HICP inflation were revised down slightly to 1.9%.

    Respondents expected real GDP growth of 1.0% in 2025 and 1.3% in both 2026 and 2027. Compared with the previous survey, expectations were revised down by 0.2 percentage points for 2025 and 0.1 percentage points for 2026. Economic policy and political uncertainty contributed to these revisions. Longer-term growth expectations remained unchanged at 1.3%.

    The expected profile of the unemployment rate was largely unchanged. Respondents continued to expect the unemployment rate to average 6.5% in 2025 but to decline to 6.4% in 2026, and then to fall further to 6.3% in 2027 and to remain there in the longer term.

    MIL OSI Europe News –

  • MIL-OSI Europe: ECB Consumer Expectations Survey results – December 2024

    Source: European Central Bank

    31 January 2025

    Compared with November 2024:

    • median consumer perceptions of inflation over the previous 12 months increased for the second consecutive month, as did median inflation expectations for the next 12 months, while median inflation expectations for three years ahead remained unchanged;
    • expectations for nominal income growth over the next 12 months remained unchanged, as did expectations for spending growth over the next 12 months;
    • expectations for economic growth over the next 12 months were unchanged, while the expected unemployment rate in 12 months’ time decreased;
    • expectations for growth in the price of homes over the next 12 months remained unchanged, as did expectations for mortgage interest rates 12 months ahead.

    Inflation

    The median rate of perceived inflation over the previous 12 months increased in December, for the second month in a row, to 3.5%, from 3.4% in November. Median expectations for inflation over the next 12 months increased, for the third month in a row, to 2.8% from 2.6%. Median expectations for inflation three years ahead were unchanged at 2.4% in December. Inflation expectations at the one-year and three-year horizons thus remained below the perceived past inflation rate. Uncertainty about inflation expectations over the next 12 months remained unchanged, for the fifth month in a row, at its lowest level since February 2022. While the broad evolution of inflation perceptions and expectations remained relatively closely aligned across income groups, expectations for lower income quintiles were slightly above those for higher income quintiles. Younger respondents (aged 18-34) continued to report lower inflation perceptions and expectations than older respondents (those aged 35-54 and 55-70), albeit to a lesser degree than in previous years. (Inflation results)

    Income and consumption

    Consumers’ nominal income growth expectations over the next 12 months remained unchanged at 1.1% in December. The income growth expectations of the lower income quintile increased more than the expectations of all other income quintiles, widening the positive gap with the other quintiles that had emerged over the previous months. Perceived nominal spending growth over the previous 12 months remained unchanged at 5.2% in December, as did expected nominal spending growth over the next 12 months at 3.5%. (Income and consumption results)

    Economic growth and labour market

    Economic growth expectations for the next 12 months were stable in December, standing at -1.3%. Expectations for the unemployment rate 12 months ahead decreased to 10.5%, from 10.6% in November. Consumers continued to expect the future unemployment rate to be only slightly higher than the perceived current unemployment rate (9.9%), implying a broadly stable labour market. The lowest income quintile continued to report the highest expected and perceived unemployment rates, as well as the lowest economic growth expectations. (Economic growth and labour market results)

    Housing and credit access

    Consumers expected the price of their home to increase by 2.9% over the next 12 months, which was unchanged from November. Households in the lowest income quintile continued to expect higher growth in house prices than those in the highest income quintile (3.5% and 2.7% respectively). Expectations for mortgage interest rates 12 months ahead also remained unchanged, at 4.6% – their level since October 2024. As in previous months, the lowest income households expected the highest mortgage interest rates 12 months ahead (5.2%), while the highest income households expected the lowest rates (4.0%). While the net percentage of households reporting a tightening (relative to those reporting an easing) in access to credit over the previous 12 months increased slightly, the net percentage of those expecting a tightening over the next 12 months declined. (Housing and credit access results)

    The release of the Consumer Expectations Survey (CES) results for January is scheduled for 28 February 2025.

    For media queries, please contact: Nicos Keranis, Tel: +49 172 758 7237

    Notes

    MIL OSI Europe News –

  • MIL-OSI: SBM Offshore completes the Share Purchase Agreements with MISC Berhad

    Source: GlobeNewswire (MIL-OSI)

    Amsterdam, January 31, 2025

    SBM Offshore confirms it has completed the transactions related to the Share Purchase Agreements announced on September 6, 2024 with its partner MISC Berhad for:

    i)   the acquisition of MISC Berhad’s entire effective equity interest in the lease and operating entities related to the FPSO Espirito Santo in Brazil; and

    ii)   the full divestment to MISC Berhad of SBM Offshore’s effective equity interest in the lease and operating entities of the FPSO Kikeh in Malaysia.

    This transaction furthers SBM Offshore’s efforts to rationalize our portfolio to ‘maintain focus and excellence’ of our operations.        

    Corporate Profile

    SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy. 
    More than 7,400 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.
    For further information, please visit our website at www.sbmoffshore.com.

    Financial Calendar   Date Year
    Full Year 2024 Earnings   February 20 2025
    Annual General Meeting   April 9 2025
    First Quarter 2025 Trading Update   May 15 2025
    Half Year 2025 Earnings   August 7 2025
    Third Quarter 2025 Trading Update   November 13 2025

    For further information, please contact:
    Investor Relations

    Wouter Holties
    Corporate Finance & Investor Relations Manager

    Media Relations

    Giampaolo Arghittu
    Head of External Relations

    Market Abuse Regulation
    This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Disclaimer
    Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impact, Risk and Opportunity Management’ section of the 2023 Annual Report.

    Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.

    This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the Half-Year Management Report accompanying the Half Year Earnings 2024 report, available on our website https://www.sbmoffshore.com/investors/financial-disclosures.

    Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

    “SBM Offshore®“, the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.

    Attachment

    The MIL Network –

  • MIL-OSI Russia: Rosneft Discovers New Archaeological Monuments

    Translartion. Region: Russians Fedetion –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    During 2024, archaeological teams from the Company’s scientific institute in Samara discovered 13 new archaeological sites in the Samara and Orenburg regions and carried out measures to ensure their preservation.

    Rosneft cares about the preservation of historical and cultural heritage and, in accordance with Russian legislation, conducts archaeological surveys at the pre-project stage during any construction work.

    In total, in 2024, the institute’s specialists surveyed 294 land plots allocated for economic development by the companies Samaraneftegaz and Orenburgneft (production assets of Rosneft).

    In the areas where the work was carried out, 36 cultural heritage sites were discovered, including 13 archaeological sites that had not previously been recorded in historical sources and documents. Among them were four single burial mounds and eight burial mounds, as well as one settlement belonging to the Srubna culture*. In the course of determining the boundaries of cultural heritage sites, archaeologists extracted more than 200 finds – fragments of ornamented ceramic dishes and bones of domestic animals.

    In addition, the institute’s archaeologists clarified the boundaries of previously identified cultural heritage sites – burial mound VIII near the village of Pogromnoye in the Orenburg Region, as well as the burial mound Nesmeyanovka I in the Samara Region. During the survey of the latter, eight previously unaccounted burial mounds were found; the complex currently includes 27 burial mounds.

    * The Srubnaya cultural and historical community is an archaeological culture of the Late Bronze Age (18th-13th centuries BC). Geographically, it was widespread in the steppe and forest-steppe belts of Eastern Europe between the Dnieper and the Urals. In the Volga region and the Urals, the culture is widely represented by archaeological sites: settlements and burial mounds. Ethnicity: Indo-Iranians. The main activities of the representatives of the Srubnaya culture are cattle breeding and agriculture.

    Reference:

    Archaeological teams have been working at the Rosneft Samara Research Institute since 2019. Over five years, specialists have surveyed over 1,600 land plots for planned facilities, determined the boundaries and registered 193 archaeological sites (settlements, single burial mounds, burial mounds) with the state, and another 173 cultural heritage sites have undergone preservation monitoring and inspection.

    Department of Information and Advertising of PJSC NK Rosneft January 31, 2025

    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: EIB submits form 18-K/A Amendment No.11: EIB Group announces preliminary unaudited operational results 2024

    Source: GlobeNewswire (MIL-OSI)

    For immediate release

    31 January 2025

    EIB submits SEC Form 18-K/A Amendment No. 11

    The European Investment Bank (EIB) has submitted its SEC Form 18-K/A Amendment No. 11.

    To view the document, please go to: EDGAR Filing Documents for 0000950157-25-000089

    The 18-K/A has also been posted on the EIB website: Amendment to the Annual Report 2023 (Form 18-K/A Amendment No 11)

    ENDS

    The MIL Network –

  • MIL-OSI: Shareholders’ Nomination Board’s proposal for the composition of Aktia Bank’s Board of Directors and their remuneration

    Source: GlobeNewswire (MIL-OSI)

    Aktia Bank Plc
    Stock Exchange Release
    31 January 2025 at 11.00 a.m.

    Shareholders’ Nomination Board’s proposal for the composition of Aktia Bank’s Board of Directors and their remuneration

    The Shareholders’ Nomination Board of Aktia Bank Plc has decided to present the following proposal to the Annual General Meeting 2025 of Aktia Bank:

    The number of the members of the Board of Directors is proposed to be decreased from nine and set to seven.

    The Shareholders’ Nomination Board proposes that of the present members of the Board of Directors, Joakim Frimodig, Carl Haglund, Maria Jerhamre Engström, Harri Lauslahti and Matts Rosenberg, based on their consent, be re-elected for a term continuing up until the end of the next Annual General Meeting. For more information on the Board members proposed to be re-elected, please see the company’s website at www.aktia.com. Ann Grevelius, Sari Pohjonen, Johannes Schulman and Lasse Svens have informed that they will not be available for re-election.

    The Shareholders’ Nomination Board also proposes that Hanne Katrama and Sari Somerkallio are elected as new Board members for the same term, based on their consent. Further information on the new Board members proposed to be elected has been attached to this release and can be found closer to the Annual General Meeting on the company’s website www.aktia.com.

    Should any of the candidates presented above not be available to be elected to the Board, the proposed number of Board members shall be decreased accordingly and the available candidates are proposed to be elected accordingly.

    All the proposed persons are independent in relation to the company according to the definition of the Corporate Governance Code. Only Matts Rosenberg is not independent of a significant shareholder since he is the chair of the board of RG Partners Oy, the largest shareholder (10.13%) of Aktia Bank. In addition, Rosenberg is the CEO of of Rettig Oy Ab, which is the largest owner of RG Partners Oy.

    All the proposed persons have informed that they intend, if they are elected, to elect Matts Rosenberg amongst them as Chair of the Board of Directors and to re-elect Joakim Frimodig as Deputy Chair.

    Regarding the selection procedure for the members of the Board of Directors, the Shareholders’ Nomination Board recommends that shareholders take a position on the proposal as a whole at the General Meeting. This recommendation is based on the fact that at Aktia the Shareholders’ Nomination Board is separate from the Board of Directors and, in addition to ensuring that individual nominees for membership of the Board of Directors possess the required competences, it is also responsible for making sure that the proposed Board of Directors as a whole also has the best possible expertise and experience for the company and that the composition of the Board of Directors also meets other requirements set for credit institutions as well as the requirements of the Finnish Corporate Governance Code for listed companies.

    The Nomination Board proposes that the remuneration for the Board of Directors for the term be unchanged from the current term and determined as follows:

    • Chair, EUR 75,000 (2024: EUR 75,000)
    • Deputy Chair, EUR 50,000 (2024: EUR 50,000)
    • member, EUR 40,000 (2024: EUR 40,000)

    Annual remunerations for the Chairs of each Committee as well as meeting remunerations are proposed to be unchanged, meaning that it is proposed that the Chair of each Committee will further receive an annual remuneration of EUR 8,000. The proposed meeting remuneration for Board and Committee meetings is EUR 700 per attended meeting for each person (EUR 700 per attended meeting for each person in 2024). If participation in a board meeting requires travelling outside the board member’s country of residence, the remuneration for board meeting is EUR 1,400 per attended meeting for each person (EUR 1,400 per attended meeting for each person in 2024). The remuneration of the members of the Board is not treated as income forming basis for earnings-related pension. Compensation for travel and accommodation expenses as well as a daily allowance is paid in line with the Finnish Tax Administration’s guidelines and the travel instructions of the company.

    The Nomination Board proposes that approximately 40% of the annual remuneration (gross amount) shall be paid to the members in the form of Aktia shares. The company will on account of the Board members acquire Aktia shares on the market to the price that is formed through public trading or it will transfer the company’s own shares to the Board members and the rest of the annual remuneration payable is paid in cash. The shares are acquired or transferred during a two-week time period from the day following the company’s interim report for 1 January 2025–31 March 2025 is published or as soon as possible in accordance with applicable legislation. If the remuneration can’t be paid in shares, it can be paid in cash entirely. The company will be responsible for all expenses and the possible transfer tax for acquiring or transferring the shares.

    The proposals of the Nomination Board will be included in the summons of the Annual General Meeting.

    Chair of the Shareholders’ Nomination Board of Aktia Bank is Gisela Knuts (appointed by the Pension Insurance Company Veritas and the companies controlled by Erkki Etola), members are Georg Ehrnrooth (appointed by RG Partners Oy), Stefan Wallin (appointed by the Åbo Akademi University Foundation) and Johan Hammarén (appointed by Oy Hammarén & Co Ab), and Lasse Svens, Chair of the Board of Directors of Aktia Bank acts as an expert.

    Aktia Bank Plc

    Further information:
    Gisela Knuts, Chair of the Nomination Board, tel. +358 40 769 8265

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

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

    Attachment

    The MIL Network –

  • MIL-OSI: MEXC Zero-Fee Event for European Traders: 108 Spot Pairs and All EUR Spot Trading Pairs

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Jan. 31, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, is excited to launch a limited-time Zero-Fee Event for European traders. During this limited-time promotion, all EUR Spot trading pairs, as well as a total of 108 Spot trading pairs, will be offered with zero fees, providing exceptional trading opportunities and cost savings for the European cryptocurrency community.

    Event Details

    The Zero-Fee Event will run from January 23, 2025, to March 31, 2025. During this period, all EUR Spot trading pairs will have 0% maker and taker fees. This promotion is available to all MEXC users.

    In addition to EUR Spot pairs, MEXC is also offering zero fees for other trading pairs in Europe.
    MEXC offers a total of 108 Spot trading pairs, including:

    • 81 pairs with USDC
    • 5 pairs with USDT
    • 22 pairs with EUR

    MEXC will also offer 29 Futures trading pairs as part of the zero-fee event.

    User-Centered Benefits for European Traders

    According to the latest TokenInsight research report, MEXC demonstrated considerable growth and market presence in 2024, securing a spot among the top 6 in Spot trading and the top 5 in derivatives trading.

    The report reveals that MEXC’s market share in the Spot market increased by approximately 9%, reaching 11.6% compared to 2023. In the derivatives market, MEXC also achieved a 10.4% year-over-year growth in market share, the largest increase among major exchanges. This growth is fueled by MEXC’s low fees, exclusive trading events, and flexible token listing strategy.

    As Europe is a key market for MEXC, the platform is offering the Zero-Fee Event as a way to give back to European traders, helping them reduce trading costs and maximize their profit potential.

    Beyond this event, MEXC delivers four key advantages that have earned the trust of over 30 million users across 170+ countries:

    M: Most Trending Tokens
    MEXC has over 3,000 token listings and almost lists new tokens daily, offering users a wide range of options and the ability to stay on top of the latest market trends.

    E: Everyday Airdrops
    MEXC brings users frequent rewards and opportunities. In 2024 alone, the platform completed 2,293 airdrops, distributing over $136 million in rewards.

    X: Xtremely Low Fees
    MEXC offers highly competitive trading fees, allowing users to significantly reduce their costs compared to industry standards.

    C: Comprehensive Liquidity
    With deep market depth and high liquidity, MEXC ensures efficient and seamless execution of every transaction, even in volatile markets.

    MEXC states that it will continue to prioritize innovation and user experience, launching new tools and services that meet the needs of global traders, with the aim of making cryptocurrency trading simpler and more profitable for every trader.

    For more details on the event and its rules, please refer to the Event Announcement.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

    Risk Disclaimer:
    The information provided in this article about cryptocurrencies does not represent MEXC’s official stance or investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully evaluate market fluctuations, project fundamentals, and potential financial risks before making any trading decisions.

    Contact:
    Lucia Hu
    PR Manager
    lucia.hu@mexc.com

    Disclaimer: This content is provided by MEXC. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9886c09c-dd1c-4df2-90f9-f0ebe65f2479

    The MIL Network –

  • MIL-OSI Economics: Quality, simplicity and transparency

    Source: Bank for International Settlements

    I would like to start by thanking the organisers for the invitation to speak at this important symposium.

    A resilient banking system and financial stability more broadly are largely driven by:

    • Bank risk management and governance practices;
    • The quantity and quality of capital and liquidity buffers;
    • The effectiveness of bank supervision; and
    • The effectiveness of market discipline.

    Given time constraints, my brief statement will focus on the role of global capital and liquidity standards. That is not to underplay the critical importance of the other factors. In this regard, the Basel Committee has an ongoing work programme focused on strengthening supervisory effectiveness.1 It also remains the case that the most important source of banks’ financial and operational strength comes from their own risk management and governance arrangement.2 And the Committee will continue to strengthen Pillar 3 disclosures and promote market discipline to help stakeholders adequately assess banks’ risk profiles.

    Minimum international standards

    According to the BIS International Banking Statistics, banks’ foreign claims and other exposures totalled USD 45 trillion at the end of the second quarter of 2024.3 Given the significant global nature of banking, there is a need to have a global minimum level-playing field.

    To promote such a global level playing field, the Basel Committee sets minimum standards for internationally active banks. Consistent with this approach, many jurisdictions choose to apply more stringent requirements than the minimum Basel standards. In addition, most jurisdictions apply some level of proportionality – that is simpler rules are applied to non-internationally active banks.4 

    Globally consistent minimum regulatory standards seek to limit regulatory fragmentation, regulatory arbitrage and a “race to the bottom” which dilutes the resilience of banks. While weaker standards can promote growth in the short-run, they typically lead to excessive risk taking, and the build-up of excessive leverage, which ultimately reverses and results in a sharp contraction in credit, bank failures, broader financial instability and large losses in economic output. In short – a race to the bottom is in no one’s long-term interest – in particular banks.5 

    Minimum standards for capital and liquidity regulation play a critical role in ensuring the soundness of individual banks and overall financial stability. Rigorous regulatory standards also help to promote economic growth by ensuring lending is sustainable and can be maintained when shocks hit the system, or when individual banks incur losses.6 

    Given the importance of globally consistent minimum standards, implementation of the Basel III regulatory framework remains the key priority for the Basel Committee. While there have been some delays in implementation, most of the outstanding Basel III standards are now in force in around 70% of BCBS member jurisdictions.7 

    Calibration of international standards

    It is important to note that international capital and liquidity standards are not calibrated to produce zero bank failures. Despite the significant strengthening of bank capital and liquidity ratios since the Great Financial Crisis, banks remain highly leveraged firms. Capital and liquidity buffers can absorb most, but certainly not all shocks that a bank may face. And history has shown that the frequency and severity of such shocks have been far greater than what would be expected based on banks’ internal models.8 All this points to the importance of bank risk management and governance, effective supervisory oversight, and implementation of Basel III which significantly reduces model risk.

    On the issue on calibration of regulatory standards it is important to also keep in mind that claims of negative effects of higher capital and liquidity regulation on bank lending and economic growth have not materialised. Rather, since the GFC we have seen that more highly capitalised banks are not only more resilient, they are also more profitable and lend more through the cycle.9 

    The “Swiss Finish”

    I would like to conclude by making a general point about the so-called “Swiss Finish”. Having lived in Switzerland for nearly twenty years, I have come to understand this as, among other things, an approach that favours quality over quantity.

    I think the same principle should apply to how we think about regulatory rules. If given a choice I would favour quality over quantity. In my view it is better to favour high quality capital over lower quality capital (even if that means lower reported capital ratios). Additionally, I have a general preference for simplicity over complexity, and being transparent.

    These three principles shape my personal views on the policy issues we will discuss during the panel. So whether we are thinking about the treatment of capital within a banking group, the role of Additional Tier 1 regulatory instruments or other policy issues, I am generally going to favour:

    • quality over quantity;
    • simplicity over complexity; and where possible
    • being transparent.

    Thank you. I will stop there and look forward to the discussion.

    References

    Basel Committee on Banking Supervision (2021): “Proportionality in bank regulation and supervision”, July.

    — (2022a): “Evaluation of the impact and efficacy of the Basel III reforms”, December.

    — (2022b): “Evaluation of the impact and efficacy of the Basel III reforms – Annex”, December.

    — (2023): “Report on the 2023 banking turmoil”, October.

    — (2024): “Basel Committee reports member jurisdictions making progress in implementing Basel III”, press release, 2 October.

    Bank for International Statistics (2025): “Locational banking statistics”,  see Table B4: here Consolidated banking statistics publication table: BIS,CBS_B4,1.0.

    Behn, M, R Hasselmann and V Vig (2022): “The limits of model-based regulation”, Journal of Finance, vol 77(3), June.

    Caparusso, J, U Lewrick and N Tarashev (2023): “Profitability, valuation and resilience of global banks – a tight link” Bank for International Settlements Working Paper No 1144.

    Thedéen, E (2024): “Charting the course: prudential regulation and supervision for smooth sailing”.

    1 BCBS (2023).

    MIL OSI Economics –

  • MIL-OSI: Jyske Realkredit explores the possibilities of issuing a new euro denominated benchmark covered bond

    Source: GlobeNewswire (MIL-OSI)

    To Nasdaq Copenhagen A/S                        31th of January 2025
                                            Announcement no. 9/2025

    Jyske Realkredit explores the possibilities of issuing a new euro denominated benchmark covered bond

    Jyske Realkredit has mandated Jyske Bank, Danske Bank, Commerzbank, TD Securities and DekaBank to explore the possibilities of issuing a new euro denominated covered bond out of capital centre E. A benchmark transaction is expected to be launched.

    Questions may be addressed to Anders Lund Hansen, Executive Vice President, tel. (+45) 89 89 92 20 or Christian Bech-Ravn, Head of Investor Relations, tel. (+45) 89 89 92 25.

    The information will also be available on Jyske Realkredit’s web site at jyskerealkredit.com.

    Yours sincerely

    Jyske Realkredit A/S

    Please observe that the Danish version of this announcement prevails.

    The MIL Network –

  • MIL-OSI Banking: Swiss Partners AG: BaFin warns against swissprimefx.com website and indicates possibility of identity theft

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns against offers on the website swissprimefx.com. According to the findings of the supervisory authority, Swiss Partners AG, Vaduz, Liechtenstein, offers financial and investment services there without permission.

    BaFin would like to point out that the two companies, swisspartners AG and swisspartners Versicherung AG, which are registered with both the Liechtenstein Financial Market Authority and BaFin, have no connection with Swiss Partners AG or the swissprimefx.com website. This constitutes identity theft.

    Anyone offering financial and investment services in Germany requires the permission of BaFin. However, some companies offer such services without the necessary permission. You can find information on whether a particular company is authorized by BaFin in the company database.

    The information provided by BaFin is based on Section 37 (4) of the German Banking Act (KWG), Section 10 (7) of the German Crypto Markets Supervision Act (KMAG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Global Banks –

  • MIL-OSI Australia: New Consul-General to Toronto

    Source: Minister for Trade

    Today I am pleased to announce the appointment of Rachelle Jackson to lead an Australian diplomatic post in Canada.

    Ms Jackson has been appointed to the role of Consul-General and Trade and Investment Commissioner in Toronto, Canada.

    Ms Jackson has a wealth of experience in trade and investment policy having held multiple leadership roles at Austrade in Melbourne and Sydney, and as a Trade Commissioner in New York and San Francisco.

    Her appointment underscores the importance of Australia’s relationship with Canada, and will advance our trade and diplomatic interests, and drive opportunities for a continued and strong bilateral trading relationship.

    I congratulate Ms Jackson on her well-deserved appointment.

    I thank the outgoing Consul-General and Trade Commissioner Josh Riley for his time and successful efforts in the role.

    MIL OSI News –

  • MIL-OSI: WOOD & Co Reinitiated Coverage of Šiaulių Bankas

    Source: GlobeNewswire (MIL-OSI)

    31 January 2025. WOOD & Co, a leading regional investment bank in Emerging Europe, has reinitiated independent equity research coverage of Šiaulių Bankas (SAB1L). The initiation report includes an analysis suggesting a target price of EUR 0.96.

    WOOD & Company Financial Services teams, located in Warsaw, Prague, Bucharest, Bratislava, Milan and London are highly experienced, have deep roots in Emerging Europe, providing wide range of products and services for investors, including Equity Sales, Electronic Trading, DMA and FIX, Equity Structured Products, Equity Research and Equity Capital Markets.

    Šiaulių Bankas stock is also covered by Swedbank, Estonian investment research firm Enlight Research, Norwegian investment bank Norne Securities and Erste Group Research. The analysts’ evaluations are available to investors on Šiaulių Bankas IR website.

    If you would like to receive Šiaulių Bankas news for investors directly to your inbox, subscribe to our newsletter.

    Additional information: 
    Tomas Varenbergas 
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    The MIL Network –

  • MIL-OSI Banking: Pension sector almost regains loss from 2022

    Source: Danmarks Nationalbank

    Insurance and pension

    Statistics period: December 2024

    Danish insurance and pension companies achieved a return of kr. 344 billion in 2024. Overall, the nominal return has been kr. 675 billion over the past two years, which means that the loss in 2022 has almost been recovered. A loss that was mainly due to capital losses in the financial markets due to, among other things, inflation, and interest rate increases. The high return in 2024 is primarily driven by the gains on the US stock market, and more than half of the pension return in 2024 came from listed US stocks; in particular, shares in technology companies such as NVIDIA, Apple and Amazon contributed with significant gains. Investments in the US account for a quarter of total pension investments and thus have a significant impact on Danish pension returns. The positive returns benefit not only pension customers, but also government finances through increased tax revenues from the so-called pension return tax, PAL tax.

    The pension sector achieved a return of kr. 344 billion in 2024

    Note:

    Danish insurance and pension companies’ returns on investments 2018-2024. Life insurance companies and pension funds as well as ATP are included in the statistics. Find chart data in the Statbank.

    MIL OSI Global Banks –

  • MIL-OSI: Webcast details for Capital Markets Day presentation on 12 February 2025

    Source: GlobeNewswire (MIL-OSI)

    Orrön Energy AB (“Orrön Energy”) will publish its financial report for the fourth quarter and full year 2024 on Wednesday 12 February 2025 at 07:30 CET, followed by a Capital Markets Day presentation at 14:00 CET.

    Listen to Daniel Fitzgerald, CEO and Espen Hennie, CFO commenting on the report and presenting the latest developments in Orrön Energy and its future growth strategy, together with members of Orrön Energy’s management team, at a webcast held on 12 February 2025 at 14:00 CET. The presentation will be followed by a question-and-answer session.

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

    For further information, please contact:

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

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

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

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

    Attachment

    The MIL Network –

  • MIL-OSI Global: Astronomers have spied an asteroid that may be heading for Earth. Here’s what we know so far

    Source: The Conversation – Global Perspectives – By Jonti Horner, Professor (Astrophysics), University of Southern Queensland

    Artist’s impression of an asteroid with Earth in the background. Buradaki / Shutterstock

    On 27 December last year, astronomers using the ATLAS survey telescope in Chile discovered a small asteroid moving away from Earth. Follow up observations have revealed that the asteroid, 2024 YR4, is on a path that might lead to a collision with our planet on 22 December 2032.

    In other words, the newly-discovered space rock poses a significant impact threat to our planet.

    It sounds like something from a bad Hollywood movie. But in reality, there’s no need to panic – this is just another day living on a target in a celestial shooting gallery.

    So what’s the story? What do we know about 2024 YR4? And what would happen if it did collide with Earth?

    A target in the celestial shooting gallery

    As Earth moves around the Sun, it is continually encountering dust and debris that dates back to the birth of the Solar system. The system is littered with such debris, and the meteors and fireballs seen every night are evidence of just how polluted our local neighbourhood is.

    But most of the debris is far too small to cause problems to life on Earth. There is far more tiny debris out there than larger chunks – so impacts from objects that could imperil life on Earth’s surface are much less frequent.

    The most famous impact came some 66 million years ago. A giant rock from space, at least 10 kilometres in diameter, crashed into Earth – causing a mass extinction that wiped out something like 75% of all species on Earth.

    Impacts that large are, fortunately, very rare events. Current estimates suggest that objects like the one which killed the dinosaurs only hit Earth every 50 million years or so. Smaller impacts, though, are more common.

    On 30 June 1908, there was a vast explosion in a sparsely populated part of Siberia. When explorers later reached the location of the explosion, they found an astonishing site: a forest levelled, with all the trees fallen in the same direction. As they moved around, the direction of the fallen trees changed – all pointing inwards towards the epicentre of the explosion.

    The Tunguska event flattened trees over an area of around 2,200 square kilometres.
    Leonid Kulik / Wikimedia

    In total, the Tunguska event levelled an area of almost 2,200 square kilometres – roughly equivalent to the area of greater Sydney. Fortunately, that forest was extremely remote. While plants and animals were killed in the blast zone, it is thought that, at most, only three people perished.

    Estimates vary of how frequent such large collisions should be. Some argue that Earth should experience a similar impact, on average, once per century. Others suggest such collisions might only happen every 10,000 years or so. The truth is we don’t know – but that’s part of the fun of science.

    More recently, a smaller impact created global excitement. On 15 February 2013, a small asteroid (likely about 18 metres in diameter) detonated near the Russian city of Chelyabinsk.

    The explosion, about 30 kilometres above the Earth’s surface, generated a powerful shock-wave and extremely bright flash of light. Buildings were damaged, windows smashed, and almost 1,500 people were injured – although there were no fatalities.

    It served as a reminder, however, that Earth will be hit again. It’s only a question of when.

    Which brings us to our latest contender – asteroid 2024 YR4.

    The 1-in-77 chance of collision to watch

    2024 YR4 has been under close observation by astronomers for a little over a month. It was discovered just a few days after making a relatively close approach to our planet, and it is now receding into the dark depths of the Solar system. By April, it will be lost to even the world’s largest telescopes.

    The observations carried out over the past month have allowed astronomers to extrapolate the asteroid’s motion forward over time, working out its orbit around the Sun. As a result, it has become clear that, on 22 December 2032, it will pass very close to our planet – and may even collide with us.

    The area at risk of a strike, based on current (highly uncertain) data.
    Daniel Bamberger / Wikimedia, CC BY-SA

    At present, our best models of the asteroid’s motion have an uncertainty of around 100,000 kilometres in its position at the time it would be closest to the Earth. At around 12,000 kilometres in diameter, our planet falls inside that region of uncertainty.

    Calculations suggest there is currently around a 1-in-77 chance that the asteroid will crash into our planet at that time. Of course, that means there is still a 76-in-77 chance it will miss us.

    When will we know for sure?

    With every new observation of 2024 YR4, astronomers’ knowledge of its orbit improves slightly – which is why the collision likelihoods you might see quoted online keep changing. We’ll be able to follow the asteroid as it recedes from Earth for another couple of months, by which time we’ll have a better idea of exactly where it will be on that fateful day in December 2032.

    But it is unlikely we’ll be able to say for sure whether we’re in the clear at that point.

    Recent observations of 2024 YR4 – the faint unmoving dot in the centre of the image.
    ESO, CC BY

    Fortunately, the asteroid will make another close approach to the Earth in December 2028 – passing around 8 million kilometres from our planet. Astronomers will be ready to perform a wide raft of observations that will help us to understand the size and shape of the asteroid, as well as giving an incredibly accurate overview of where it will be in 2032.

    At the end of that encounter, we will know for sure whether there will be a collision in 2032. And if there is to be a collision that year, we’ll be able to predict where on Earth that collision will be – likely to a precision of a few tens of kilometres.

    How big would the impact be?

    At the moment, we don’t know the exact size of 2024 YR4. Even through Earth’s largest telescopes, it is just a single tiny speck in the sky. So we have to estimate its size based on its brightness. Depending on how reflective the asteroid is, current estimates place it as being somewhere between 40 and 100 metres across.

    What does that mean for a potential impact? Well, it would depend on exactly what the asteroid is made of.

    The most likely scenario is that the asteroid is a rocky pile of rubble. If that turns out to be the case, then the impact would be very similar to the Tunguska event in 1908.

    The asteroid would detonate in the atmosphere, with a shockwave blasting Earth’s surface as a result. The Tunguska impact was a “city killer” type event, levelling forest across a city-sized patch of land.

    Meteor Crater in Arizona is believed to have been created by a 50m metallic meteorite impact around 50,000 years ago.
    NASA Earth Observatory / Wikimedia

    A less likely possibility is that the asteroid is made of metal. Based on its orbit around the Sun, this seems unlikely – but we can’t rule it out.

    In that case, the asteroid would make it through the atmosphere intact, and crash into Earth’s surface. If it hit on the land, it would carve out a new impact crater, probably more than a kilometre across and a couple of hundred metres deep – something similar to Meteor Crater in Arizona.

    Again, this would be quite spectacular for the region around the impact – but that would be about it.

    Living in a remarkable time

    This all sounds like doom and gloom. After all, we know that the Earth will be hit again – either by 2024 YR4 or something else. But there’s a real positive to take out of all this.

    There has been life on Earth for more than 3 billion years. In all that time, impacts have come along and caused destruction and devastation many times.

    But there has never been a species, to our knowledge, that understood the risk, could detect potential threats in advance, and even do something about the threat. Until now.

    In just the past few years, we have discovered 11 asteroids before they hit our planet. In each case, we have predicted where they would hit, and watched the results.

    We have also, in recent years, demonstrated a growing capacity to deflect potentially threatening asteroids. NASA’s DART mission (the Double Asteroid Redirection Test) was an astounding success.

    For the first time in more than 3 billion years of life on Earth, we can do something about the risk posed by rocks from space. So don’t panic! But instead, sit back and watch the show.

    Jonti Horner 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. Astronomers have spied an asteroid that may be heading for Earth. Here’s what we know so far – https://theconversation.com/astronomers-have-spied-an-asteroid-that-may-be-heading-for-earth-heres-what-we-know-so-far-248753

    MIL OSI – Global Reports –

  • MIL-OSI: BW Energy: Fourth Quarter Results 2024

    Source: GlobeNewswire (MIL-OSI)

    BW ENERGY FOURTH QUARTER RESULTS 2024

    HIGHLIGHTS

    •          Record Q4 EBITDA of USD 141.6 million, net profit of USD 56.8 million
    •          Full-year revenue of USD 0.8 billion (+57%), EBITDA of USD 457.4 million (+90%) and net profit of USD 165.9 million (+105%)
    •          Operational cash-flow of USD 117.7 million in the quarter
    •          Q4 gross production of 4.0 mmbbls with 3.1 mmbbls net to BW Energy
    •          Highest quarterly production since inception from the Dussafu licence
    •          ESP replacement program completed as planned with 8 producing Hibiscus / Ruche wells from early 2025
    •          Current gross production at Dussafu above 40,000 bbls/day
    •          Maintained a strong balance sheet with cash position of USD 221.8 million

    BW Energy, operator of the Dussafu Marin licence in Gabon and the Golfinho cluster offshore Brazil, reported a record quarterly EBITDA of USD 141.6 million for the fourth quarter of 2024. This was up from USD 130 million in the previous quarter on increased oil sales following all-time-high production in Gabon. The net production was 33,600 bbls/day, including the Tortue, Hibiscus, and Hibiscus South fields in the Dussafu licence (73.5% working interest or “WI”) and the Golfinho field (100% WI).

    Full-year 2024 net production was approximately 10.1 million barrels of oil, up 69% from 2023. EBITDA was USD 457.4 million (USD 241.0 million). The full-year figures are preliminary and unaudited. BW Energy will publish audited 2024 figures on 26 February 2025.

    “BW Energy delivers strong production growth, increased reserves and record financial performance in the fourth quarter and full year 2024 supported by new ESPs, successful appraisal wells and the completion of the Hibiscus / Ruche development,” said Carl K. Arnet, the CEO of BW Energy. “We have a pivotal 2025 ahead, executing on our strategy for growth and long-term value creation. Appraisal of the Bourdon structure in Gabon is ongoing, and we plan to sanction the Maromba development in Brazil in coming weeks. Then, in the second half we will drill the first Kudu appraisal in Namibia, a high impact well which may help unlock secure access to energy in a part of Southern Africa with unstable supply.”

    DUSSAFU
    BW Energy completed three liftings in the fourth quarter at an average realised price of USD 72.5/bbl. Net production was approximately 2.5 mmbbls of oil and the net sold volume, the basis for revenue recognition, was approximately 2.7 mmbbls including 97,500 bbls of DMO deliveries and 311,429 bbls of state profit oil with an under-lift position of 248,700 bbls at period-end.

    Net production from the Dussafu licence averaged ~27,300 bbls/day, an increase of 36% from the previous quarter. Operating cost (excluding royalties) decreased to USD 18.5/bbl from USD 20.5/bbl in the third quarter due to operational efficiencies and increased production. Further cost savings are expected as BW Energy is preparing to take over the operations of the BW Adolo FPSO during the first half of 2025.

    All ESP change outs were completed as planned and on 2 January 2025, Phase 1 of the Hibiscus / Ruche development was completed with eight producing wells, two more than planned at project sanction. 

    GOLFINHO
    Net production from the Golfinho field averaged ~6,400 bbls/day equivalent to a total production of 585,000 bbls in the quarter, up 17% from the previous quarter. A planned shutdown of a Petrobras gas plant restricted gaslift capacity for approximately 40 days, with only ESP wells producing. One lifting was carried out of ~500,000 bbls at a realised price of USD 73.5/bbl. Remaining inventory was approximately 440,500 bbls at the end of the period. Operating cost (excluding royalties) averaged USD 56.4/bbl barrel, down from 63.3/bbl in the third quarter, primarily due to higher production.

    OTHER ITEMS
    At 31 December 2024, BW Energy had a cash balance of USD 221.8 million, compared to USD 209.8 million at end-September. The increase reflects cash flow from operations, debt repayment and investments. The Company had a total drawn debt balance of USD 563 million including the MaBoMo lease, the Dussafu RBL, the Golfinho prepayment facility and bond debt.

    Production guidance for 2025 is between 11 and 12 mmbbls net to BW Energy. Full-year operating cost is expected to be USD 18 to 22/bbl (the basis for calculating unit operating cost has been revised from 2025 onwards to exclude royalties, tariffs, workovers, domestic market obligation purchases, production sharing costs, and incorporates the impact of IFRS 16 adjustments, primarily impacting Gabon operations). Net capital expenditures are expected at USD 260 to 285 million, including the appraisal well in Namibia. The capex guidance is excluding the Maromba development and the Golfinho Boosting project, both awaiting FID. 

    DEVELOPMENT PLANS
    In Gabon, the Bourdon appraisal prospect, targeting potential gross recoverable reserves of ~30 million barrels in Gamba and Dentale formations, was spud earlier this month and results are expected during the first quarter. At end-October, BW Energy (37.5% WI and operator) signed production sharing contracts (PSCs) for the Niosi Marin and Guduma Marin exploration blocks, which are adjacent to the Dussafu licence and significantly expands the resource base for infrastructure-led exploration. Planning for a 3D seismic campaign is ongoing. 

    Work on optimising Golfinho production continued to focus on stabilising FPSO performance and selected future well workovers. BW Energy is preparing to commence the Golfinho Boosting project to replace current gaslift with ESPs in two wells to increase production and production regularity from mid-2026.

    The Maromba development, targeting low-risk barrels in an oil-rich area with multiple producing assets, is progressing towards planned final investment decision (FID) next month based on the sustainable re-use of an FPSO and a jack-up with drilling capacity and dry trees. This enables a cost-efficient development with an investment budget of USD 1.2 billion and short pay-back time. Project financing is close to completion 

    In Namibia, BW Energy has sanctioned the drilling of an appraisal well targeting the Kharas Prospect northwest in the Kudu licence with planned start-up drilling operations in the third quarter. Long-lead items have been secured and the Company is reviewing offers for rig capacity. There is a close dialogue with other operators in the Orange Basin on exploring common use available resources. Development planning and concept selection for the Kudu gas-to-power project also continued with relevant stakeholders.

    REPORTS AND PRESENTATION
    Please find the fourth-quarter earnings presentation attached. The reports are also available at:

    www.bwenergy.no/investors/reports-and-presentations

     BW Energy will today hold a conference call followed by a Q&A hosted by CEO Carl K. Arnet, CFO Brice Morlot and COO Lin G. Espey at 15:00 CET.

    You can follow the presentation via webcast with supporting slides, available on:

    VIEWER REGISTRATION • Q4 2024

    Call-in information:

    Participants dial in numbers:

    DK: +45 7876 8490
    SE: +46 8 1241 0952
    NO: +47 2195 6342
    UK: +44 203 769 6819
    US: +1 646-787-0157
    Singapore: 65-3-1591097
    France: 33-1-81221259

    PIN code: 980877

    Please note, that if you follow the webcast via the above URL, you will experience a 30 second delay compared to the main conference call. The web page works best in an updated browser – Chrome is recommended.

    BW Energy will publish the audited 2024 annual report, the reserves report and the report on payments to governments on 26 February 2025.

    For further information, please contact:
    Brice Morlot, CFO BW Energy, +33.7.81.11.41.16
    ir@bwenergy.no

    About BW Energy:
    BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 580 million barrels of oil equivalent at the start of 2024.

    This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

    Attachments

    The MIL Network –

  • MIL-OSI: Inbank Financial Calendar for 2025

    Source: GlobeNewswire (MIL-OSI)

    AS Inbank has approved the company’s Financial Calendar for the 2025 financial year, according to which Inbank plans to disclose information and hold the Annual General Meeting of shareholders as follows:

    25.02.2025       Q4 and 2024 full year Unaudited Interim Report
    05.03.2025       2024 Audited Annual Report
    31.03.2025        Annual General Meeting
    06.05.2025       Q1 Interim Report
    05.08.2025       Q2 Interim Report
    05.11.2025         Q3 Interim Report

    Inbank is a financial technology company with an EU banking license that connects merchants, consumers and financial institutions on its next generation embedded finance platform. Partnering with 6,200 merchants, Inbank has 881,000+ active contracts and collects deposits across 7 markets in Europe. Inbank bonds are listed on the Nasdaq Tallinn Stock Exchange.

    Additional information:
    Styv Solovjov
    AS Inbank
    Head of Investor Relations
    +372 5645 9738
    styv.solovjov@inbank.ee

    The MIL Network –

  • MIL-OSI Economics: Need for mission readiness to drive maintenance expenditure on in-service military platforms in Asia-Pacific in 2025, says GlobalData

    Source: GlobalData

    Need for mission readiness to drive maintenance expenditure on in-service military platforms in Asia-Pacific in 2025, says GlobalData

    Posted in Aerospace, Defense & Security

    The evolving nature of warfare and threat perceptions in the Asia-Pacific region has increased the demand for robust maintenance, repair, and overhaul (MRO) practices substantially. Disciplined MRO practices ensure higher operational availability rates of military platforms such as fixed-wing aircrafts, helicopters, naval vessels, and land vehicles. Against this backdrop, the cumulative maintenance cost burden of the military platform fleet of Asia-Pacific countries is estimated to be about $44 billion in 2025, reveals GlobalData, a leading data and analytics company.

    GlobalData’s dashboard on Annual Maintenance Cost (part of the Fleet Size database) reveals that, with 28% share of the total addressable market (TAM), the Asia-Pacific region will provide most number of opportunities for maintenance service providers throughout this decade. Within Asia-Pacific, China, India, and Japan are the top three countries with highest maintenance cost burden owing to their large fleet of in-service defense platforms as of January 2025.

    Harsh Deshmukh, Aerospace & Defense Analyst at GlobalData, comments: “The governments in the Asia-Pacific region have the highest maintenance cost burden on the Military Land Vehicles segment, which is estimated to be about $15 billion for 2025. This cost is further aggravated due to the large inventory of aging Soviet-origin main battle tanks, armored personnel carriers, and tactical trucks. Leading Asia-Pacific companies catering to this market segment include China North Industries Group Corp Ltd (Norinco), Dongfeng Motor Corporation Ltd, Poly Technologies, Armoured Vehicles Nigam Ltd, Tata Advanced Systems Ltd, Mitsubishi Heavy Industries Ltd, and LIG NEX1 Co.”

    The annual maintenance cost burden on Asia-Pacific’s Military Fixed Wing Aircraft fleets is estimated to be about $13 billion for 2025. As countries in the region try to address the perennial issues related to the low availability rate of their Fixed Wing Aircraft fleet, significant opportunities exist for global primes and subcontractors.

    Deshmukh concludes: “Growing tension and territorial disputes across the Asia-Pacific, especially in the South China Sea, will not just drive the countries to procure new defense platforms but will also compel policymakers to pay more attention to the maintenance of their in-service fleet. India, China, and Pakistan have seen several border skirmishes in recent years, which have necessitated the respective governments to increase their spending on maintenance activities. The efforts made towards the improvement of the defense readiness levels by these countries will continue to pave the way for maintenance contracts to both domestic and international companies with relevant product portfolios.”

    MIL OSI Economics –

  • MIL-OSI Economics: India startups raise $11.3 billion venture capital funding in 2024, reveals GlobalData

    Source: GlobalData

    India startups raise $11.3 billion venture capital funding in 2024, reveals GlobalData

    Posted in Business Fundamentals

    India saw a notable improvement in venture capital (VC) funding activity in 2024 compared to the previous year. While both deal volume and total funding value increased, the growth was particularly significant in terms of value. The number of VC deals rose by 6%, from 1,102 in 2023 to 1,168 in 2024, whereas the total disclosed funding value surged by 43%, from $7.9 billion in 2023 to $11.3 billion in 2024, according to GlobalData a leading data and analytics company.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The dent in investor sentiment that the market experienced for the past few years seems to have faded, with the renewed appetite for big-ticket deals further underscoring this recovery.”

    An analysis of GlobalData’s Deals Database revealed that the average size of VC deals announced in India, which stood at around $7 million in 2023, increased to around $10 million in 2024. Meanwhile, the number of VC deals valued more than or equal to $100 million announced in India increased from 14 to 21.

    Some of the notable VC funding deals announced in India during 2024 include $665 million, $350 million, and $340 million secured by Zepto across three separate funding rounds. Other significant deals include Meesho raising $300 million, PharmEasy securing $216 million, and PhysicsWallah receiving $210 million, among others.

    Bose adds: “It is noteworthy that driven by the improvement in funding activity, India’s share in the global space has improved.”

    India, which accounted for 5.5% of the total number of VC deals announced globally during 2023, accounted for 7.1% share of deal volume in 2024. Meanwhile, India saw its share of the total disclosed funding value increase from 3.3% in 2023 to 4.2% in 2024.

    Bose concludes: “India’s strong rebound in VC funding activity reflects growing investor confidence and the market’s resilience. The rise in big-ticket deals and the increase in India’s share of global VC investments highlight the country’s expanding influence in the startup ecosystem. As investor sentiment continues to improve, India seems to be well-positioned to attract further funding and drive innovation across key sectors.”

    Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.

    MIL OSI Economics –

  • MIL-OSI Economics: Lantheus to strengthen position in nuclear imaging agents with recent acquisitions, says GlobalData

    Source: GlobalData

    Lantheus to strengthen position in nuclear imaging agents with recent acquisitions, says GlobalData

    Posted in Medical Devices

    The demand for nuclear imaging agents is expected to grow significantly, driven by an aging population and advancements in imaging technologies. The industry is shifting toward more targeted, patient-specific solutions, particularly in neuroimaging and oncology, where early detection and personalized treatment are critical. Lantheus’ acquisition of Life Molecular Imaging and Evergreen Theragnostics will strengthen its position in this evolving landscape and expand its capabilities in key diagnostic areas, according to GlobalData, a leading data and analytics company.

    Ashley Clarke, Senior Medical Analyst at GlobalData, comments: “The nuclear imaging industry is increasingly driven by the demand for advanced neuroimaging agents in Alzheimer’s disease and targeted oncology solutions for more precise cancer detection and treatment.  These innovations are helping drive a more patient-specific approach to disease management. The competitive landscape is evolving quickly, with multiple companies competing to establish leadership in this space.”

    Lantheus’ acquisition of Life Molecular Imaging includes Neuraceq, an FDA-approved PET agent for detecting β-amyloid plaques in Alzheimer’s disease, and ADvance (PI-2620), a tau PET imaging agent in late-stage clinical development. These additions complement its existing pipeline, which includes β-amyloid agent NAV-4694, acquired from Meilleur Technologies in 2024, and tau agent MK-6240, acquired from Cerveau Technologies in 2023.

    Clarke adds: “Lantheus is building a robust neuroimaging portfolio that strategically balances short-term revenue growth with long-term innovation in Alzheimer’s diagnostics. Neuraceq provides immediate competition with established products such as Eli Lilly’s Amyvid and GE Healthcare’s Vizamyl. Meanwhile, the pipeline potential of ADvance positions the company as a strong player in the quickly growing tau-based imaging market.”

    Beyond neuroimaging, Lantheus is expanding its presence in oncology. Lantheus has announced an agreement to acquire Evergreen Theragnostics, a radiopharmaceutical company specializing in the development and manufacturing of imaging agents for cancer diagnosis and treatment. This acquisition includes Octevy, a registrational-stage PET diagnostic agent targeting neuroendocrine tumors. Additionally, in mid-2024, the company licensed RM2 from Life Molecular Imaging, a theranostic agent that uses Lu-177 and Ga-68 to treat malignant tumors, including prostate, breast, and lung cancers.

    The RM2 and Octevy additions build on Lantheus’ established oncology portfolio, which includes Pylarify, a leading PSMA-targeting imaging agent, and a range of pipeline products addressing prostate cancer, neuroendocrine tumors, and other solid tumors. The oncology imaging space is highly competitive, with companies such as Eli Lilly, GE Healthcare, Curium Pharma, and Novartis also developing targeted imaging and theranostic solutions.

    Clarke concludes: “Looking ahead, nuclear imaging is set to become increasingly integrated with therapeutic applications. The next wave of innovation will likely introduce multi-targeted theranostics and agents with broader biomarker coverage, enhancing both diagnostic accuracy and therapeutic outcomes. As new imaging technologies emerge, companies that successfully align their portfolios with both clinical demand and market dynamics will be best positioned for long-term success.”

    MIL OSI Economics –

  • MIL-OSI Economics: GlobalData 2025 Cloud Predictions: AI and economics will drive growth and change in IaaS

    Source: GlobalData

    GlobalData 2025 Cloud Predictions: AI and economics will drive growth and change in IaaS

    Posted in Technology

    2024 was a good year for hyperscalers and cloud providers who capitalized on their clients’ need for access to more processing and storage due to escalating growth in data volumes.  The hyperscalers continued to expand their solution portfolios, creating in some cases almost unfathomably vast catalogues. While some businesses opt to repatriate some workloads to private or on-premise environments for cost and other reasons, the expectation is that Infrastructure as a Service (IaaS) expansion will continue in 2025, with AI being a major factor in this expansion, according to a recent advisory report by GlobalData, a leading data and analytics company.

    GlobalData’s report titled “2025 Enterprise Predictions: Cloud Reconsidered,”  reveals that cost-containment and new regulations will be important factors in enterprise cloud decision-making in 2025.

    Amy Larsen DeCarlo, Principal Analyst, Enterprise Technology and Services at GlobalData, comments: “Even as economic uncertainty looms, the demand for more processing power and storage fuelled in large part by work in GenAI and synthetic AI will keep the hyperscalers and other cloud providers in excellent position in the coming year. Another byproduct of the increase in AI-powered applications will be greater interest in edge computing.  Hyperscalers and their partners will both benefit from this.”

    Concerns about costs on the part of enterprise and public sector entities will be a major influence on cloud investments this year.

    Larsen DeCarlo adds: “The onus is on cloud providers to deliver solutions that help organizations refine their cloud implementations, a fact of which they are keenly aware.

    “Organizations will advance their FinOps work internally, engaging individual IT operations teams with lines of business and finance to improve operational results and reduce expenses.  The hyperscalers who deliver effective tools to support this work will gain a point of differentiation.”

    GlobalData notes that even as organizations invest more in cloud services, regulatory changes will drive them to re-examine their current implementations and make changes in what they deploy to public and private clouds.

    Larsen DeCarlo concludes: “Hyperscalers have maintained a focus on developing vertically specific solutions for industries such as finance and healthcare. They will continue to build these out in 2025 while also expanding local infrastructure in regions including the Middle East and Africa as well as Asia.”

    MIL OSI Economics –