NewzIntel.com

Category: Business

  • MIL-OSI China: Gold prices continue to hit new highs

    Source: China State Council Information Office 3

    Global spot gold prices soared to new heights on Monday, reaching $2,740 per ounce, following multiple records since the year began.

    Experts predicted possible fresh highs backed by US Federal Reserve interest rate cuts, geopolitical uncertainties and purchases from central banks.

    Such a trend is set to favor gold mining companies while presenting challenges for downstream retail sales, said experts, adding companies ought to innovate by offering products with smaller weight variations and novel features to entice consumers.

    Li Yuefeng, a researcher at the Beijing Gold Economy Development Research Center, said that escalating conflicts in the Middle East, the impending US election and expectations of loose monetary policies worldwide have propelled a surge in gold demand as safe-haven assets, driving up international gold prices to break past $2,700 per ounce, establishing a new all-time high.

    Li said this year has witnessed a remarkable increase of over 30 percent in international gold prices, the most significant annual surge since 1979. Looking ahead, Li highlighted the upcoming release of the Purchasing Managers’ Index data as an important factor influencing gold prices.

    “If the PMI data continues to show better-than-expected performance, the US dollar may rise against other currencies to new highs as investors could further reduce their bets on Fed rate cuts,” said Li. “Conversely, if the PMI unexpectedly drops below 50, indicating a contraction in private business activity, it could exert pressure on the dollar, thereby driving international gold prices higher. This week may see a risk of a slight drop of gold prices after reaching new highs.”

    Liu Shikai, manager of research and development at a trading center under the Shandong Zhaojin Gold and Silver Refinery Co Ltd, said that the recent surge in international spot gold prices to cross $2,700 per ounce was predominantly driven by regional tensions.

    He anticipated a continued upward trajectory for international gold prices in the near term, potentially reaching new historical peaks. Geopolitical tensions, mounting uncertainties surrounding US politics and the economy in anticipation of the election, remain pivotal in supporting international gold prices.

    Furthermore, a recent report from the World Gold Council highlighted that central banks’ gold purchases have contributed and will continue to contribute to the uptrend in gold prices. In July, global central banks’ net purchase of gold reached 37 metric tons, marking a 206 percent increase from the previous month, the highest monthly increase since January. The WGC has forecast a continuation of this trend among global central banks in the near future.

    MIL OSI China News –

  • MIL-OSI China: Leap in Sino-African ties foreseen

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

    The current global economic slowdown and shocks to industrial and supply chains have presented China and Africa with a crucial opportunity to scale up mutual cooperation and move it to a higher level, officials and experts said.

    A shift in China-Africa investment cooperation toward higher-end industries, digitalization, and green development is a vital step in facilitating the inclusive growth of both sides, they said.

    They made the remarks at the Symposium on High-Quality Development of China-Africa Investment Cooperation on Monday, which was jointly hosted by the China-Africa Development Fund and the Chinese Academy of International Trade and Economic Development in Beijing.

    The complementary economic and industrial development profiles of China and Africa have formed a solid basis for their thriving cooperation, said Jing Ning, deputy director-general at the department of Western Asian and African affairs under the Ministry of Commerce.

    The synergistic pairing of China’s technologies, equipment and management expertise with Africa’s markets and human resources has been a key driving force behind the advancement of the continent’s industrialization, technological innovation, and youth employment, Jing said.

    China’s investments in Africa are not only growing in volume but are also strategically oriented toward ensuring that Africa becomes a global manufacturing hub, said Rahamtalla M. Osman, permanent representative of the African Union to China.

    Africa’s green development potential, renewable energy needs, youth population and emerging consumer markets, coupled with the opportunities presented by the African Continental Free Trade Area, have made it a promising investment destination, Osman said.

    The Chinese government announced plans to facilitate at least 70 billion yuan ($9.8 billion) in investments by Chinese companies in Africa over the next three years during the Summit of the Forum on China-Africa Cooperation in Beijing in September.

    Meanwhile, China and Africa will establish a joint digital technology cooperation center and 20 flagship digital demonstration projects. China is committed to equipping African nations with the latest advancements in clean energy technologies, including solar, wind, and hydropower systems.

    As Chinese enterprises expand their investments in Africa, they are not only pursuing their own interests, but also striving to bring tangible benefits to African countries, said Wang Shaodan, chairman of the China-Africa Development Fund.

    CADF, along with partner enterprises, is actively promoting technology transfers to African countries, transitioning from “Made in China” to “Made in Africa” and enhancing the local industrial development capabilities, Wang said.

    In 2013, Chinese home appliances manufacturer Hisense and the CADF jointly invested $350 million to establish Hisense South Africa Industrial Park, where the company has promoted technology transfer and upskilled local workers.

    This has enabled South Africa to acquire manufacturing capabilities and develop export-ready brands for the European market, Wang added.

    China is also working to facilitate the transfer of agricultural technologies to Africa through a wide range of cooperation modalities, which is crucial for enhancing Africa’s food security, said Yu Zirong, vice-president of the Chinese Academy of International Trade and Economic Development.

    Africa is currently facing the dual dilemma of debt and development, and Chinese financial institutions and enterprises are exploring the expansion of new collaborative models to address this challenge, said Yu Yong, deputy director-general of the department of African affairs under the Ministry of Foreign Affairs.

    These new approaches, including public-private partnership, and integrated investment-construction-operation model, are designed to ensure the continuous funding and liquidity needed to support Africa’s industrialization, ultimately leading to a reduction in the continent’s debt burden, Yu said.

    MIL OSI China News –

  • MIL-OSI Economics: ADB Approves $200 Million Loan to Enhance Livability in Uttarakhand, India

    Source: Asia Development Bank

    MANILA, PHILIPPINES (23 October 2024) — The Asian Development Bank (ADB) has approved a $200 million loan to help upgrade water supply, sanitation, urban mobility, and other urban services to enhance the quality of life and climate resilience of the people in Uttarakhand state in India.

    The Uttarakhand Livability Improvement Project will improve transportation and urban mobility, drainage, flood management, and overall public services in the city of Haldwani, which serves as the state’s economic hub. To enhance water supply service delivery in Champawat, Kichha, Kotdwar, and Vikasnagar, the project will finance the implementation of efficient and climate-resilient water supply systems.

    “Uttarakhand’s high vulnerability to climate and environmental risks such as floods and droughts adds to the pressing challenges in delivering good public services that are faced by the project towns,” said ADB Senior Urban Development Specialist Pedro Almeida. “With a projected increase in rainfall, temperatures, and flooding and landslides, upgrading infrastructure in these areas is critical not only to improve livability but also to ensure the population’s safety and health.” 

    In Haldwani, the project will develop 16 kilometers (km) of climate-resilient roads, establish an intelligent traffic management system, deploy compressed natural gas buses, and pilot electric buses. To prepare the city against disasters, the project will construct 36 km of stormwater and roadside drains to improve flood management and implement an early warning system. A green-certified administrative complex and bus terminal will be built to improve the delivery of public services. 

    In the towns of Champawat, Kichha, Kotdwar, and Vikasnagar, the project aims to increase water service coverage to 100% by constructing 1,024 km of climate-resilient pipelines with smart water meters, 26 tubewells with a daily capacity of 72,131 cubic meters, new reservoirs with 17,350 cubic meters of storage capacity, and a 3.5 million liter per day water treatment plant. Sanitation coverage in Vikasnagar will be improved by sewage treatment facilities that will benefit around 2,000 households.

    Measures to strengthen the institutional capacity of the Uttarakhand Urban Sector Development Agency and urban local bodies in project management, climate and disaster-resilient planning, and urban infrastructure management will be implemented under the project.

    The project will introduce initiatives for women, such as livelihood skills training on driving buses, bus ticketing, and the operation of electric charging stations. Given women’s role in monitoring water supply systems, the project will build the capacity of women, including those from vulnerable households, in operating and managing water supply and sanitation services. The project will pilot women-led community engagement in water bill distribution and collection in the four towns.

    The European Investment Bank is cofinancing the project with $191 million on a parallel basis, while the state government is contributing $74.9 million—bringing the total project cost to $465.9 million.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.
     

    MIL OSI Economics –

  • MIL-OSI Economics: Public–Private Partnership Monitor: Georgia

    Source: Asia Development Bank

    This report is part of an ADB flagship series that considers financing options and assesses constraints, such as low awareness and insufficient PPP opportunities at both local and national levels. The report also details how Georgia’s PPP Agency and PPP Law are supporting efforts to attract investment partners and bolster critical infrastructure that can further strengthen the economy.

    MIL OSI Economics –

  • MIL-Evening Report: New Prada-designed spacesuit is a small step for astronaut style, but could be a giant leap for sustainable fashion

    Source: The Conversation (Au and NZ) – By Alyssa Choat, Lecturer in Fashion and Textiles Design, University of Technology Sydney

    For its recent Spring/Summer 2025 show, fashion brand Diesel filled a runway with mounds of denim offcuts, making a spectacle of its efforts to reduce waste.

    Haunting yet poetic, the “forgotten” byproducts of fashion production were reclaimed and repurposed into something artful. But the irony isn’t lost, given fashion shows like this one demand significant resources.

    Diesel’s event is an example of a growing trend towards the “spectacle of sustainability”, wherein performative displays are prioritised over the deeper, structural changes needed to address environmental issues.

    Can the fashion industry reconcile its tendency towards spectacle with its environmental responsibilities? The recent spacesuit collaboration between Prada and Axiom Space is one refreshing example of how it can, by leaning into innovation that seeks to advance fashion technology and rewrite fashion norms.

    Performance art instead of substantive change

    The fashion industry has always relied on some form of spectacle to continue the fashion cycle. Fashion shows mix art, performance and design to create powerful experiences that will grab people’s attention and set the tone for what’s “in”. Promotional material from these shows is shared widely, helping cement new trends.

    However, the spectacle of fashion isn’t helpful for communicating the complexity of sustainability. Fashion events tend to focus on surface-level ideas, while ignoring deeper systemic problems such as the popularity of fast fashion, people’s buying habits, and working conditions in garment factories. These problems are connected, so addressing one requires addressing the others.

    It’s much easier to host a flashy event that inevitably feeds the problem it purports to fix. International fashion events have a large carbon footprint. This is partly due to how many people they move around the world, as well as their promotion of consumption (whereas sustainability requires buying less).

    The pandemic helped deliver some solutions to this problem by forcing fashion shows to go digital. Brands such as Balenciaga, the Congolese brand Hanifa and many more took part in virtual fashion shows with animated avatars – and many pointed to this as a possible solution to the industry’s sustainability issue.

    But the industry has now largely returned to live fashion shows. Virtual presentations have been relegated to their own sectors within fashion communication, while live events take centre stage.

    Many brands, including Prada, held fashion shows without guests during lockdowns in 2021.

    Towards a sustainable fashion future

    Technology and innovation clearly have a role to play in helping make fashion more sustainable. The recent Prada-Axiom spacesuit collaboration brings this into focus in a new way.

    The AxEMU (Axiom Extravehicular Mobility Unit) suits will be worn by Artemis III crew members during NASA’s planned 2026 mission to the Moon. The suits have been made using long-lasting and high-performance materials that are designed to withstand the extreme conditions of space.

    By joining this collaboration, Prada, known for its high fashion, is shifting into a highly symbolic arena of technological advancement. This will likely help position it at the forefront of sustainability and technology discussions – at least in the minds of consumers.

    Prada itself has varying levels of compliance when it comes to meeting sustainability goals. The Standard Ethics Ratings has listed it as “sustainable”, while sustainability scoring site Good on You rated it as “not good enough” – citing a need for improved transparency and better hazardous chemical use.

    Recently, the brand has been working on making recycled textiles such as nylon fabrics (nylon is a part of the brand DNA) from fishing nets and plastic bottles. It also launched a high-fashion jewellery line made of recycled gold.

    Innovating for a changing world

    Prada’s partnership with Axiom signifies a milestone in fashion’s ability to impact on high-tech industries. Beyond boosting Prada’s image, such innovations can also lead to more sustainable fashions.

    For instance, advanced materials created for spacesuits could eventually be adapted into everyday heat-resistant clothing. This will become increasingly important in the context of climate change, especially in regions already struggling with drought and heatwaves. The IPCC warns that if global temperatures rise by 1.5°C above pre-industrial levels, twice as many mega-cities are likely to become heat-stressed.

    New innovations are trying to help consumers stay cool despite rising temperatures. Nike’s Aerogami is a performance apparel technology that supposedly increases breathability. Researchers from MIT have also designed garment vents that open and close when they sense sweat to create airflow.

    Similarly, researchers from Zhengzhou University and the University of South Australia have created a fabric that reflects sunlight and releases heat to help reduce body temperatures. These kinds of cooling textiles (which could also be used in architecture) could help reduce the need for air conditioning.

    One future challenge lies in driving demand for these innovations by making them seem fashionable and “cool”. Collaborations like the one between Prada and Axiom are helpful on this front. A space suit – an item typically seen as a functional, long-lasting piece of engineering – becomes something more with Prada’s name on it.

    The collaboration also points to a broader potential for brands to use large attention-grabbing projects to convey their sustainability credentials. In this way they can combine spectacle with sustainability. The key will be in making sure one doesn’t come at the expense of the other.

    Alyssa Choat 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. New Prada-designed spacesuit is a small step for astronaut style, but could be a giant leap for sustainable fashion – https://theconversation.com/new-prada-designed-spacesuit-is-a-small-step-for-astronaut-style-but-could-be-a-giant-leap-for-sustainable-fashion-240551

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Australia: Expanded program to help essential workers move to Northern Rivers

    Source: New South Wales Premiere

    Published: 23 October 2024

    Released by: Minister for Agriculture

    Essential workers will receive significantly more support to move and settle into the Northern Rivers thanks to a successful Minns Labor Government initiative, The Welcome Experience, being extended into the region making it easier for local organisations to attract workers to making the move.

    Originally piloted during 2023 in Broken Hill, Muswellbrook, Bega, Walgett, Coffs Harbour, Corowa, Griffith and Goulburn, The Welcome Experience has been such a success it is now being rolled out to additional locations since September this year and is now operating in 55 Local Government Areas.

    The Welcome Experience will now provide workforce support to the additional town locations of Tweed, Lismore, Ballina, Byron and Richmond Valley thanks to a successful tender application from new host agency, Regional Development Australia (RDA) Northern Rivers.

    As part of The Welcome Experience, host agencies help essential workers make the regions their home, forge social connections, access childcare and schooling options, join sporting clubs and even assist with finding job opportunities for partners.

    Launched in June last year, The Welcome Experience has helped 665 essential workers and their families to move to regional New South Wales, including 346 health workers, 110 educators and 42 police staff. 

    The Northern Rivers can look forward to similar type success stories that have emerged after the program was rolled out to other regions over the last few months.

    Host Agencies in new delivery locations such as Dubbo, Port Macquarie, Kiama and Inverell are now onboarding Local Connectors, plus engaging their local communities and gathering feedback to assist them to tailor the delivery of The Welcome Experience to meet specific needs of communities.

    Among the new host agencies is RDA Murray, which has reported a positive stream of enquiries since September from essential workers considering the move to the Albury area.

    RDA Program Manager for Albury Karin Willcox is already assisting two registered nurses and their children move to the region from New Zealand.

    Karin has organised arrangements for the family ahead of their arrival, including airport pickup, car rental, childcare, schooling options, and even securing furniture for their new home.

    Find out more The Welcome Experience

    Minister for Agriculture and Regional NSW, Tara Moriarty said:

    “Our Government is focusing on ensuring regional NSW receives the services it needs and attracting essential workers is critical to making that happen.

    “If people get to hear first-hand info about schools or childcare, and that there is a good bunch of people in the local netball team, plus insights on cafes and places to fish, you are making them feel welcome.

    “Recognising the area’s needs, the Government is pleased the procurement process has been completed to engage RDA Northern Rivers to set up services in five towns that will boost the attraction of essential workers.

    “The Welcome Experience has a strong track record of warmly welcoming workers to regional NSW and encouraging them to build lasting connections in their new communities, and I look forward to seeing RDA continue this valuable work in the Northern Rivers region.”

    NSW Parliamentary Secretary for Disaster Recovery and State Member for Lismore Janelle Saffin said:

    “I congratulate Regional Development Australia (RDA) Northern Rivers on successfully tendering to be host agency for The Welcome Experience in towns across our region as this organisation has a track record of building capacity through strengthening networks.

    “We need to attract and retain more essential workers as our population grows, and providing workforce support with relocations and settling into a new community for workers and their families is a no-brainer.

    “Some councils provide new residents with a welcome pack to help them navigate their new surroundings, and this Minns Labor Government initiative is that concept writ large, offering a wraparound set of services specific to our region.

    “The Welcome Experience’s pilot sites have been successful in helping hundreds of health workers, educators and police move to the regions, and I look forward to more success in Lismore, Tweed, Byron, Ballina and Richmond Valley.”

    RDA Northern Rivers Director of Regional Development Anthony Schreenan said:

    “The Welcome Experience will support new essential workers through every step of the relocation process, from when they first consider the move, to when they decide to make their home in the Northern Rivers and build connections in the community,” Mr Schreenan said.

    “We are so happy to be able to benefit from The Welcome Experience, the pilot showed that the key to retaining workers is welcoming them into the community, and that’s more than finding a house to live in and school for the kids.

    “It’s becoming part of the local sports club, getting to know fellow parents, connecting with the people at your local and building networks of friendship.

    “Our Local Connector will provide a concierge service, connecting with essential workers who are considering relocating to our region and providing information about the region, finding a place to live, access to schools and amenities, and services available.

    Locations delivering The Welcome Experience:

    Region Location Government Areas Successful Host Agency
    Northern NSW Glen Innes Severn and Inverell Attract Connect Stay Glenn Innes
    North Coast & Rivers Tweed, Lismore, Ballina, Byron and Richmond Valley RDA Northern Rivers
    Mid North Coast Kempsey, Nambucca and Port Macquarie Hastings RDA Mid North Coast
    Mid North Coast Coffs Harbour and Bellingen Boambee East Community Centre
    Hunter Muswellbrook, Singleton and Upper Hunter Muswellbrook Shire Council
    New England Armidale, Tamworth and Uralla RDA Northern Inland
    Moree Plains Moree Plains Moree Plains Shire Council
    Orana region Bourke, Dubbo (incl Wellington) and Walgett RDA Orana
    Central West Bathurst, Cowra, Lachlan, Lithgow, Oberon, Orange, Parkes and Weddin Skillset
    Western NSW Balranald, Broken Hill, Central Darling, Regional Solutions Community Development
    Far West NSW Unincorporated Far West and Wentworth Regional Solutions Community Development
    Murray Albury, Federation and Greater Hume RDA Murray
    Eastern Riverina Temora, Tumut, Wagga Wagga RDA Riverina
    Western Riverina Griffith, Leeton, RDA Riverina
    Southern NSW Goulburn Mulwaree, Hilltops, Queanbeyan-Palerang, Snowy-Monaro, Upper Lachlan, Wingecarribee and Yass Valley RDA Southern NSW
    Bega Valley Bega Valley Bega Chamber of Commerce
    Illawarra Kiama, Shellharbour and Shoalhaven Multicultural Communities Council of Illawarra 
    South Coast Eurobodalla Bega Chamber of Commerce 

    MIL OSI News –

  • MIL-OSI Security: Buffalo man pleads guilty to bilking two banks out of nearly half a million dollars

    Source: Office of United States Attorneys

    BUFFALO, N.Y.-U.S. Attorney Trini E. Ross announced today that Joshua Parra, 32, formerly of Buffalo, NY, now living in Melbourne, Florida, pleaded guilty before U.S. Magistrate Judge Michael J. Roemer to bank fraud, which carries a maximum penalty of 30 years in prison and a $1,000,000 fine. 

    Assistant U.S. Attorney Charles M. Kruly, who is handling the case, stated that between December 28, 2021, and January 6, 2022, Parra defrauded Bancorp and Stride Bank by creating 94 fictitious disputed transactions on behalf of 11 customers of Fintech Company 1, a financial technology company that offers customers mobile banking services. However, none of the 11 customers’ accounts with Fintech Company 1 had transactions that would justify such disputes. Nearly all of the fictitious disputed transactions were in the amount of $5,000. As a result, funds were transferred from settlement accounts, held at Bancorp and Stride Bank, to accounts maintained by the Fintech Company 1 customers for whom Parra created the fictitious disputed transactions. Losses to Bancorp and Stride Bank totaled approximately $459,000.

    The plea is the result of an investigation by the Internal Revenue Service, Criminal Investigation Division, under the direction of Special Agent in Charge Thomas Fattorusso, and the Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Miraglia.  

    Sentencing will be scheduled at a later date.   

    # # # #

    MIL Security OSI –

  • MIL-OSI Economics: Money Market Operations as on October 22, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 563,557.45 6.65 5.10-6.85
         I. Call Money 9,130.51 6.65 5.10-6.85
         II. Triparty Repo 408,209.20 6.66 6.45-6.80
         III. Market Repo 145,104.74 6.61 6.00-6.85
         IV. Repo in Corporate Bond 1,113.00 6.75 6.70-6.85
    B. Term Segment      
         I. Notice Money** 281.00 6.65 6.00-6.90
         II. Term Money@@ 501.50 – 6.45-6.95
         III. Triparty Repo 657.00 6.70 6.60-6.75
         IV. Market Repo 874.20 6.66 6.62-6.80
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Tue, 22/10/2024 1 Wed, 23/10/2024 2,603.00 6.75
    4. SDFΔ# Tue, 22/10/2024 1 Wed, 23/10/2024 67,234.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -64,631.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo Fri, 18/10/2024 13 Thu, 31/10/2024 20,073.00 6.49
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,388.93  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -9,144.07  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -73,775.07  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on October 22, 2024 1,002,750.84  
         (ii) Average daily cash reserve requirement for the fortnight ending November 01, 2024 1,016,726.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 22, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on October 04, 2024 488,495.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1356

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: LCQ14: Mainland Travel Permits for Hong Kong and Macao Residents (non-Chinese Citizens)

    Source: Hong Kong Government special administrative region

         Following is a question by Dr the Hon Kennedy Wong and a written reply by the Secretary for Security, Mr Tang Ping-keung, in the Legislative Council today (October 23):Question:     The Exit and Entry Administration of the country announced on July 1 this year the issuance of Mainland Travel Permits for Hong Kong and Macao Residents (non-Chinese Citizens) (non-Chinese Permits) to non-Chinese Hong Kong permanent residents who make an application starting from the 10th of that month. In this connection, will the Government inform this Council:(1) given that since September 1, 2018, relevant Mainland authorities have further facilitated the use of the Mainland Travel Permit for Hong Kong and Macao Residents (commonly known as Home Return Permit) by Hong Kong and Macao residents for easy application of the Home Return Permit in areas such as transport, finance, communications, education, healthcare, social security, industry and commerce, taxation and accommodation, and the Secretary for Labour and Welfare said in July this year that the measures relating to the non-Chinese Permit would be conducive to the talent exchange between the Mainland and Hong Kong and further facilitate Hong Kong’s better integration into the overall development of the country and its contribution to the country’s high-‍quality development, but it is learnt that currently holders of non-‍Chinese Permits are still unable to enjoy any convenience on the Mainland, including their inability to directly open bank accounts, apply for telephone cards and purchase railway tickets, whether the authorities will seek to secure the wider and more convenient use of the non-Chinese Permit on the Mainland, so that holders of the permit can enjoy the same convenience afforded to holders of the Home Return Permit; if so, of the specific details; if not, the reasons for that;(2) of the total number of persons who have applied for non-Chinese Permits so far, their main nationalities and the situation of their use of the permit; and(3) of the channels used by the Government to promote the non-Chinese Permit, so as to ensure that non-Chinese residents in Hong Kong who are eligible can receive the relevant information in a timely manner, and whether assistance is provided for holders of non-Chinese Permits at the relevant control points?Reply:President,     The Government of the Hong Kong Special Administrative Region (HKSAR) warmly welcomes and expresses gratitude to the country for issuing non-Chinese Hong Kong permanent residents a card???type document with five-year validity (Mainland Travel Permit for Hong Kong and Macao Residents (non-Chinese Citizens)) with effect from July 2024. The new measure represents a major policy breakthrough under “one country, two systems” implemented by the Mainland authorities with innovative thinking and fully highlights the unique status of the HKSAR.     Before the introduction of the new measure, foreigners (including non-Chinese Hong Kong permanent residents) could only go through the manual channels at control points of the Mainland with their foreign passports and fill in an arrival card each time. Even though persons of certain nationalities can enjoy visa-free access to the Mainland, they still have to use the manual channels for clearance using their passports at Mainland control points. After the introduction of the new measure, individuals holding the card-type document are able to enjoy self-service clearance at control points of the Mainland, and they are no longer required to fill in any arrival card. It has significantly enhanced clearance efficiency and facilitated access to the Mainland for business, travelling and visiting relatives by non-Chinese Hong Kong permanent residents.     In consultation with the Constitutional and Mainland Affairs Bureau, the Commerce and Economic Development Bureau (CEDB), Invest Hong Kong (InvestHK), the Information Services Department (ISD) and the Home Affairs Department (HAD), my reply to the various parts of the question is as follows:(1) The issuance of new card-type document to non-Chinese Hong Kong permanent residents has significantly enhanced clearance convenience. We understand that various sectors of the community expect wider use of the new document on the Mainland. The HKSAR Government has been in close communication with relevant Mainland authorities and will continue to do so in enhancing the level of convenience of Hong Kong residents living on the Mainland, with a view to promoting better integration of the HKSAR into the overall development of the country.(2) The application, approval, and issuance of the new card-type document fall within the remit of the Mainland authorities. According to the figures provided by the Exit and Entry Administration of the country (EEA), from July to mid-October 2024, a total of about 55 000 non-Chinese Hong Kong permanent residents had made appointments for application, and about 20 000 new card-type documents were issued by the EEA. The number of visitor arrivals/departures made using the card-type document amounted to a total of 53 000. Applicants mainly included nationals from European, North American, Southeast and South Asian countries.     Based on the HKSAR Government’s understanding, the first batch of people who obtained and used the card-type document for travelling to the Mainland (including those from the business and school sectors) greatly welcomed the new measure. They also considered that the measure could substantially shorten the clearance time and fully satisfy their needs for visiting the Mainland for business, academic and cultural exchanges, and travelling purposes. Some of them also said that the measure had given them a stronger sense of identity and facilitated their greater participation in the development of the Greater Bay Area (GBA).(3) The Security Bureau has been actively promoting the new measure together with relevant bureaux and departments, including the CEDB, InvestHK, the ISD, the HAD, as well as Hong Kong Economic and Trade Offices overseas and on the Mainland, etc. Apart from promoting through various channels, including mass media and social media, we have been particularly promoting this measure to foreign chambers of commerce in Hong Kong, encouraging international talents of Hong Kong companies who are permanent residents to make use of the card-type document to better seize the opportunities of the country’s rapid development, especially in the building of the GBA. In addition, we have especially introduced the measure to ethnic minorities through the eight support service centres for ethnic minorities funded by the HAD and promoted the measure to ethnic minority groups, community groups and schools, etc. through relevant District Offices in districts where more ethnic minorities live.     We have also been maintaining close communication with the Mainland authorities to ensure the smooth implementation of first-time registration for the use of this permit and clearance arrangement at Mainland control points, including the provision of more directional signs in English and additional manpower to assist card holders when necessary.

    MIL OSI Asia Pacific News –

  • MIL-Evening Report: LNP lead reduced as Queensland election approaches; US election remains very close

    Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne

    The Queensland state election is this Saturday, with polls closing at 7pm AEDT. There are 93 single-member seats, with Queensland having no upper house. At the 2020 election, Labor won 52 of the 93 seats, the Liberal National Party (LNP) 34 and all others seven. Labor won the two-party statewide vote by an estimated 53.2–46.8.

    There have been two recently released Queensland polls, with both showing a reduction in the LNP lead from landslide margins the last time the same polls were released. However, the LNP is still very likely to win on Saturday.

    A YouGov poll for The Courier Mail, conducted October 10–16 from a sample of 1,503, gave the LNP a 54.5–45.5 lead, a 2.5-point gain for Labor since the previous YouGov poll in July. Primary votes were 41% LNP (down two), 31% Labor (up five), 11% Greens (down three), 11% One Nation (down two) and 6% for all Others (up two).

    Labor premier Steven Miles had a net approval of -10, up three points, with 44% dissatisfied and 34% satisfied. LNP leader David Crisafulli’s net approval slumped 11 points to +6. Crisafulli led Miles by 37–36 as better premier, down from a 40–29 lead in July.

    A Resolve poll for The Brisbane Times, conducted October 14–19 from a sample of 1,003, gave the LNP a 53–47 lead by respondent preferences and a 52–48 lead by 2020 election preference flows. This is the first time Resolve has given a two-party result for its Queensland polls.

    Primary votes were 40% LNP (down four since the previous Resolve poll that was conducted over four months from June to September), 32% Labor (up nine), 11% Greens (down one), 9% One Nation (up one), 2% independents (down seven) and 5% others (up one).

    In its previous polls, Resolve asked all respondents if they would vote for independents. In this poll that was taken after nominations closed, they only asked for independents where independents were standing, so the independent vote crashed.

    Crisafulli led Miles by 39–37 as preferred premier (40–27 in September). Miles had a +8 net approval (47% good, 38% poor), while Crisafulli was at net +7 approval. On issues, the LNP led Labor by 22 points on crime, with the two parties were within two points on cost of living, housing and health.

    The key reasons why Labor is likely to be defeated are an “it’s time” factor as Labor has governed since winning the January 2015 election, the federal Labor government tending to hurt state Labor parties and Queensland easily being the most pro-Coalition state at the 2022 federal election.

    At that election, Queensland was the only state where the Coalition won the two-party vote (by 54.1–45.9). The second best state for the Coalition was New South Wales, where Labor won the two-party vote by 51.4–48.6.

    US election still very close, but Harris’ national lead drops

    The United States presidential election will be held on November 5. In analyst Nate Silver’s aggregate of national polls, Democrat Kamala Harris leads Republican Donald Trump by 48.8–47.2, a gain for Trump since Sunday, when Harris led by 49.1–46.8. Harris’ national lead peaked on October 2, when she led by 49.4–45.9.

    The US president isn’t elected by the national popular vote, but by the Electoral College, in which each state receives electoral votes equal to its federal House seats (population based) and senators (always two). Almost all states award their electoral votes as winner-takes-all, and it takes 270 electoral votes to win (out of 538 total).

    Relative to the national popular vote, the Electoral College is biased to Trump, with Harris needing at least a two-point popular vote win to be the narrow Electoral College favourite in Silver’s model.

    In Pennsylvania (19 electoral votes), there’s now a 48.0–48.0 tie in Silver’s poll averages. Harris remains barely ahead in Michigan (15 electoral votes) by 0.5 points, Wisconsin (ten) by 0.7 and Nevada (six) by 0.4. But without Pennsylvania, Harris leads in states
    worth 257 electoral votes and Trump in states worth 262, down from a 276–262 Harris lead on Sunday.

    On the current numbers, whoever wins Pennsylvania would win the presidency. Trump leads in North Carolina (16 electoral votes) by one point, Georgia (16) by 1.5 and Arizona (11) by two.

    Silver’s model now gives Trump a 53% chance to win the Electoral College, up from 51% on Sunday, but the race remains very close to a 50–50 chance for either candidate. There’s a 27% chance Harris wins the popular vote but loses the Electoral College. The FiveThirtyEight forecast gives Trump a 51% win probability.

    While the polls have trended to Trump recently, that doesn’t mean he will continue to gain. There are still two weeks before the election, and either candidate could win decisively if there’s late movement or poll error in their favour.

    With the seven swing states currently all within two points, the two most likely outcomes are for either Trump or Harris to sweep all seven swing states. A Trump sweep occurs 24% of the time and a Harris sweep 15% of the time.

    Silver has a list of 24 reasons why Trump could win. I think the most important reasons are the economy and the Electoral College bias. These reasons may explain Trump’s recent poll gains.

    Adrian Beaumont 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. LNP lead reduced as Queensland election approaches; US election remains very close – https://theconversation.com/lnp-lead-reduced-as-queensland-election-approaches-us-election-remains-very-close-241683

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Shaheen, Hassan, Kuster Join President Biden in Concord to Celebrate Historic Work to Lower Prescription Drug Costs for Granite Staters

    US Senate News:

    Source: United States Senator for New Hampshire Maggie Hassan

    (Concord, NH) – U.S. Senators Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH), alongside U.S. Representative Annie Kuster (NH-02), joined President Joe Biden in Concord on the campus of New Hampshire Technical Institute to celebrate historic work by the Biden-Harris Administration to reduce the cost of prescription drug prices for Granite Staters, including action in the Inflation Reduction Act capping the cost of insulin to $35 for Medicare beneficiaries, capping annual out-of-pocket drug spending for Medicare enrollees and allowing the federal government to negotiate prices for drugs covered under Medicare Part B and Part D. As co-chair of the U.S. Senate Diabetes Caucus, Shaheen leads the bipartisan Improving Needed Safeguards for Users of Lifesaving Insulin Now (INSULIN) Act which would cap the cost of insulin at $35 for more Americans. Photos from today’s event can be found here.

    “I was thrilled to welcome President Biden back to New Hampshire today to discuss the Administration’s comprehensive, historic reforms that have already shown success in lowering the price of prescription drugs, including capping insulin at $35 a month for Medicare beneficiaries—a long-standing priority for me,” said Senator Shaheen. “In the wealthiest nation on Earth, no one should have to choose between putting food on the table or paying for the medication they need to survive. So, let’s continue to build on this progress by passing my bipartisan INSULIN Act to cap insulin costs for millions more Americans.”

    “It was great to welcome President Biden back to New Hampshire today to discuss efforts to lower costs for Americans,” said Senator Hassan. “Under the Biden-Harris Administration, we have taken on Big Pharma to start lowering prescription drug prices and put seniors first – and we won’t let up in our efforts to bring down health care costs for Granite Staters and all Americans.”

    “For too long, health care and prescription drugs costs have been too high for too many Americans. That’s exactly why the Biden-Harris Administration made lowering prescription drug costs and expanding access to health care a cornerstone of its agenda,” said Congresswoman Kuster. “From capping the cost of insulin at $35 per month to allowing Medicare to negotiate drug prices directly with pharmaceutical companies, they have delivered. Leadership matters and the leadership of President Biden and Vice President Harris is making a real difference in the lives of hardworking Granite Staters.”

    Shaheen and the full New Hampshire Congressional delegation have supported efforts to combat rising drug prices and prevent drug manufacturers from abusing the drug approval process to limit market competition, including by supporting key provisions in the Inflation Reduction Act. Earlier today, the Assistant Secretary for Planning and Evaluation (ASPE) released a report announcing that nearly 1.5 million Medicare enrollees, and more that 5,000 Granite Staters, benefited from the new out-of-pocket cap, saving nearly $1 billion on prescription drugs in just the first half of 2024—with even bigger savings expected for the remainder of this year. For the first time, the Inflation Reduction Act also provides Medicare the ability to directly negotiate the prices of certain high-cost drugs with pharmaceutical manufacturers. According to recent estimates, taxpayers will save an estimated $6 billion in prescription drug costs on newly negotiated drugs, and Medicare beneficiaries alone will save an estimated $1.5 billion in annual out-of-pocket costs. More than 30,000 Granite Staters take prescription drugs set for negotiation in 2026.

    Shaheen also pushed for the inclusion of a provision in the Inflation Reduction Act that capped out-of-pocket costs for Medicare patients with diabetes by ensuring that Medicare Part D and Medicare Advantage health plans limit copays or coinsurance to no more than $35 per month, 25% of list price, or 25% of the negotiated price. Across New Hampshire, Medicare beneficiaries needing insulin would have saved $3.5 million, an average of $536 per enrollee, had the $35 cap been in effect in 2020. As co-chair of the bipartisan U.S. Senate Diabetes Caucus, Shaheen has consistently pressed to hold insulin manufacturers, insurers and pharmacy benefit managers accountable for the skyrocketing cost of life-saving insulin. Last year, Shaheen and Senator Susan Collins (R-ME) introduced the INSULIN Act, which would comprehensively address the skyrocketing costs of insulin and remove barriers to care making it more accessible to millions of Americans.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: LCQ19: Supporting the development of the logistics industry

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Frankie Yick and a written reply by the Secretary for Transport and Logistics, Mr Lam Sai-hung, in the Legislative Council today (October 23):Question:     According to the Action Plan on Maritime and Port Development Strategy promulgated by the Government in December last year, the maritime and port industry, with economic contribution accounting for 4.1 per cent of gross domestic product, facilitates the growth of trade and logistics industry as one of the four major economic pillars in Hong Kong. However, it has been reported that with the rapid development of neighbouring ports, the container throughput of Hong Kong has been on a downtrend, and some major ocean-‍going cargo shipping companies have even removed Hong Kong from their voyage itineraries, thus further affecting Hong Kong’s container throughput. In this connection, will the Government inform this Council:(1) of the follow-up actions taken by the Government in response to the removal of Hong Kong from the voyage itineraries of some major ocean-going cargo shipping companies; whether it will introduce measures to attract these cargo shipping companies to put Hong Kong back on their voyage itineraries, including making reference to the practices of Singapore and the Mainland to exempt controlled goods for transhipment from licensing requirements, or streamlining the relevant procedures; if so, of the details; if not, the reasons for that;(2) given that Hong Kong is an important entrepot for the Mainland, but cross-boundary land freight has been affected by the drop in container throughput of the Hong Kong port, and quite a number of cross-boundary goods vehicles have been forced to lie idle, of the progress of the Government’s work in developing new cargo sources for the cross-boundary land freight sector; and(3) as it is learnt that in the face of insufficient cargo volume, some small and medium enterprises in the logistics industry are on the verge of closing down, whether the authorities will introduce support measures to relieve the financial pressure of the industry; if so, of the details; if not, the reasons for that?Reply: President,     Hong Kong is an international maritime centre, with its port being one of the world’s busiest and most efficient ports and its comprehensive strengths in terms of port conditions, professional maritime service and overall business environment among the world’s best. Hong Kong also ranked fourth in the 2024 Xinhua-Baltic International Shipping Centre Development Index.       To further consolidate our status as an international maritime centre, further to the promulgation of the Action Plan on Maritime and Port Development Strategy in December 2023, the Transport and Logistics Bureau (TLB) will take forward various measures as announced in the 2024 Policy Address in full steam, including reconstituting the existing Hong Kong Maritime and Port Board (HKMPB) into the “Hong Kong Maritime and Port Development Board”, actively fostering the development of smart port, stepping up the promotion of green transformation of registered ships, developing a green maritime fuel bunkering centre, as well as promoting the development of high value-added maritime and professional services, such as the enhancement of tax concessions relating to ship lessors and shipping commercial principals, encouragement of leading or high-potential marine insurance operators to establish presence in Hong Kong and exploration of tax concessions relating to commodity trading, thereby strengthening the local maritime ecosystem. We will materialise the aforesaid measures in a proactive manner in order to boost the competitiveness of the maritime industry.     Our reply to Hon Frankie Yick’s question is as follows:(1) Enhancing port competitiveness is one of the four major directions of development mentioned in the Action Plan on Maritime and Port Development Strategy. As a major transshipment port in the region, enhancing Hong Kong’s attractiveness as a cargo transshipment hub, promoting the strengths of Hong Kong Port (HKP) and strengthening co-operation with the Mainland are important means to boost port cargo transshipment throughput.     In terms of enhancing Hong Kong’s attractiveness as a cargo transshipment hub, as announced by the Chief Executive in his 2024 Policy Address, the Government is exploring the feasibility of extending the arrangements under the Air Transhipment Cargo Exemption Scheme, that is, exempting the import and export licence requirements on specified controlled commodities, to other intermodal cargo transshipment modes, including sea-to-sea transshipment. In addition, in view of the international maritime industry’s increasing concern about decarbonisation, we will develop Hong Kong into a green maritime fuel bunkering centre, so as to attract ocean-going vessels using green maritime fuels to call at Hong Kong, thereby enhancing the competitiveness of HKP.     As regards promoting the strengths of HKP, the Government has been working with the industry to strengthen external promotion and liaison. For example, HKMPB visited Tokyo, Japan and Hamburg, Germany as well as Athens, Greece in Europe, in July and September this year respectively to visit various ports and companies in the maritime industry. It will also visit the Middle East at the end of this year, with a view to allowing the relevant stakeholders there to learn about the strengths and latest development of Hong Kong’s maritime and port industry, and explore new cooperation opportunities.     Regarding enhancing cooperation with the Mainland, the container terminal operators of Hong Kong, with the support of the Government, have signed multiple cooperation agreements with different regions of the Mainland. Amongst others, Hong Kong container terminal operators signed a memorandum of understanding on cooperation with Guangxi Beibu Gulf International Port Group in May 2024 to strengthen Hong Kong-Guangxi cooperation on the port and logistics fronts. In August 2024, under the cooperation between a Hong Kong container terminal operator and Shenzhen Yantian Port, the Chongqing-Shenzhen-Hong Kong scheduled rail-sea service commenced, which allows export cargoes from Chongqing to be exported via Shenzhen Yantian Port and Kwai Tsing Container Terminals in Hong Kong through the sea-rail intermodal transshipment mode, thereby bringing more cargo to Hong Kong. In addition, Hong Kong’s port industry is also cooperating with Shenzhen Dachan Bay Terminals on handling high-value cold chain products by facilitating fast and efficient transshipment of containers from Hong Kong to Dachan Bay by barges, so that the relevant cargoes can reach cities in the Greater Bay Area (GBA) speedily, thereby strengthening HKP’s connectivity with other ports and cargo sources in the Mainland.(2) As a regional logistics hub, Hong Kong has all along been one of the major gateways for air and sea cargoes to and from the GBA. With the commissioning of the Hong Kong-Zhuhai-Macao Bridge (HZMB), the driving distance between Hong Kong and Western Guangdong and Guangxi has been greatly shortened, thereby further unleashing the enormous potential for logistics cooperation between Hong Kong and the two aforesaid places. For this reason, the Government has proposed in the Action Plan on Modern Logistics Development to actively explore new cargo sources and new opportunities for cross-boundary land freight transport in relation to Western Guangdong and its neighbouring regions by enhancing multimodal transport measures and making good use of the HZMB.     The TLB has been actively discussing with Zhuhai on enhancing synchronised development on the logistics front between Hong Kong and Zhuhai by making good use of the HZMB. The TLB also visited Zhuhai in March 2023 together with the Hong Kong Logistics Development Council to learn about Zhuhai’s logistics development and explore cooperation opportunities. Apart from Zhuhai, the Secretary for Transport and Logistics also led a delegation to Zhanjiang, Guangdong, in June 2024 to learn about the business opportunities in logistics development between Hong Kong and Zhanjiang arising from the “New Land-Sea Corridor for Western Regions”. In addition, the Transport and Logistics Bureau also signed the “Framework Agreement on Deepening Strategic Co-operation for the Guangxi-Hong Kong Task Force on Transport and Logistics” with the Department of Transport of Guangxi in May this year, with a view to strengthening logistics cooperation with Guangxi, including cross-boundary land freight logistics.     The TLB will continue to enhance liaison and cooperation with Western Guangdong and its neighbouring regions, with a view to further enlarging the cargo catchment for Hong Kong’s cross-boundary land freight logistics sector.(3) The Government has been supporting the development of Hong Kong’s logistics industry through various measures. In terms of financial assistance, since 2020, the Government has been providing assistance to eligible logistics service providers through the $300 million Pilot Subsidy Scheme for Third-party Logistics Service Providers, with a view to supporting local logistics industry, especially small- and medium-sized third-party logistics service providers, to increase productivity by applying technology. On the other hand, we are also supporting logistics practitioners in receiving training, and providing sponsorship for logistics enterprises to engage interns, through the Professional Training on Smart and Green Logistics Scheme under the Maritime and Aviation Training Fund and Internship Scheme on Modern Logistics, respectively. In addition, the Chief Executive has announced in his 2024 Policy Address a number of measures to support small and medium enterprises (SMEs), including allowing borrowing enterprises (including those in the logistics sector) under the SME Financing Guarantee Scheme (SFGS) to apply for principal moratorium for up to 12 months, and at the same time, offering the partial principal repayment options to new loans under the 80 per cent and 90 per cent guarantee products of the SFGS, so as to alleviate the repayment burden on SMEs, thereby creating more room for them to seize the opportunities brought about by economic recovery.     Enlarging cargo catchment and increasing cargo throughput is the most practical means to assist logistics enterprises. Hence, the Government will continue to implement various strategies and action measures set out in the Action Plan on Modern Logistics Development promulgated in October 2023, including enhancing intermodal connectivity by implementing the Three-Places-One-Lock Scheme and the dedicated express route for air and land fresh and live products, making good use of HZMB and enhancing promotion of Hong Kong’s strengths in logistics development in the Mainland and overseas, with a view to attracting more cargoes to be transshipped through Hong Kong.     The Government will, through the Hong Kong Logistics Development Council and other platforms, continue to maintain communication with the trade, closely monitor the latest development of the logistics industry and introduce suitable measures at appropriate junctures to support the sustainable development of the logistics sector.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Micro dramas boom as many turn to short videos

    Source: China State Council Information Office 3

    Chinese creatives foresee huge potential in micro dramas, the new trend in the country’s entertainment industry, experts said at an event in Linfen, Shanxi province, on Monday.

    “Through the event held in partnership with CCTV.com, the online media outlet affiliated to China Media Group, we want to build Linfen into a national platform for the micro drama industry,” Yan Jianguo, director of the Linfen publicity department, said in his speech at the Light and Shadows of Linfen: China’s Premium Micro Short Drama Night.

    Micro dramas are low-budget productions mostly shot in vertical format, with each episode a few minutes long, that are shown on short-video streaming platforms such as Douyin and Kuaishou. In this genre, viewers can enjoy dramatic plot twists and fast-paced narratives that revolve around revenge or betrayal.

    According to statistics from the China Internet Network Information Center, the total number of internet users in the country had reached 1.1 billion by June, with 52.4 percent of them viewing micro dramas.

    A recent industrial report by market consultancy iiMedia Research, the market value of the country’s micro dramas last year was nearly 37.4 billion yuan ($5.25 billion), a year-on-year increase of about 268 percent. It is expected to exceed 50 billion yuan this year and surpass 100 billion yuan in 2027.

    “Since 2022, micro dramas, with their fast pace and short duration, have been increasingly enjoyed by more users on Douyin, with more than 400 such dramas garnering over 1 billion views as of early this year,” said Lang Fengwei, deputy editor-in-chief of Douyin, adding that the platform has launched a program in micro-drama creation and promotion to explore a new market model.

    Wang Xingyi, vice-president of short-video app Kuaishou, said micro dramas have not only enriched people’s cultural lives, but have also injected vitality into the entertainment sector. Under the app’s micro-drama program, there have been nearly 1,000 such series produced as of early this year.

    Micro dramas are not only popular in China, but are also spreading to the overseas market. According to data provider Sensor Tower, Reel-Short, a micro-drama app created by Chinese publishing company COL Group, landed on the eighth spot on the “Top Free” chart and ninth on the free entertainment chart in the Google Play Store.

    To meet the market demand, scriptwriters, authors and actors have expressed their anticipation in the new genre.

    “When the TV adaptation of my novel A Lifelong Journey aired on China Central Television, I watched it every night alongside viewers across the country,” said author Liang Xiaosheng.

    “Now I wonder whether it can be adapted into a micro drama. I look forward to possibly experiencing that with audiences again,” he added.

    In August, Tencent and the Linfen government built a premium microdrama base to attract key players to shoot their dramas.

    Meanwhile, the local government has issued a policy to support the industry development with a 50-million-yuan fund established to boost production and foster talent.

    MIL OSI China News –

  • MIL-OSI USA: Virtual Seminar: Harnessing Microgravity for the Necessary Leap in Semiconductor Technology

    Source: US Government research organizations

    The United States is currently decades behind on silicon semiconductor technology manufacturing, exemplified by the CHIPS and Science Act enacted in 2022. But to truly lead the future of semiconductor technology, we must look beyond silicon, which has reached its physical limits in output power and operating frequency, and establish dominance in beyond-silicon semiconductor technology. To do this, a robust method for manufacturing beyond-silicon crystals will be needed for advanced packaging and substrate usage. This webinar will introduce an innovative concept of using US pre-eminence in space technology to leapfrog into a semiconductor leadership position while simultaneously spurring the commercialization of low-Earth orbit (LEO). 

    Existing beyond-silicon crystal growth methods yield small volumes of poor-quality crystals. Rather than traditional solutions that address the symptoms of this problem, our innovation addresses the root cause: gravity. By moving manufacturing to LEO, the detrimental effects of gravity on crystal growth (e.g., buoyancy & sedimentation, container interactions, hydrostatic pressure, thermal convection) can be eliminated – resulting in greater than 3x increase in crystal size and up to 1000x fewer defects. These benefits at the crystal level can in turn improve device properties by an order of magnitude when used as substrates. For example, improved thermal properties of microgravity-grown crystals can address critical packaging challenges faced by device manufacturers across consumer electronics, medical devices, and aerospace & defense. 

    Microgravity semiconductor crystal growth has a robust academic track record through the 80s and 90s during the space shuttle era. However, once the US transitioned LEO R&D to the ISS, semiconductor crystal growth was deprioritized due to its incompatibility with ISS human life support systems. Pursuing this promising avenue for semiconductor crystal growth requires additional infrastructure that is external to the ISS to host the necessary high temperature, high pressure payloads. This seminar will discuss the most cost-effective and timely manner to acquire this critical LEO infrastructure that will facilitate US leadership in semiconductor technology. 

    Dr. Jessica Frick is the CEO & Co-Founder of Astral Materials, Inc., a company that uses microgravity as a manufacturing tool to grow beyond-silicon semiconductor crystals at a size and quality that cannot be achieved on Earth. Dr. Frick holds a Ph.D. in Chemistry & Materials Science from Princeton University and has a deep expertise in microgravity crystal growth from her time as a Postdoctoral Fellow and Research Engineer at Stanford University. With over a decade of experience in crystal growth, on Earth and in microgravity, Dr. Frick has been instrumental in raising awareness on the benefits of microgravity material processing and the infrastructural needs to conduct this work in low-Earth orbit (LEO). Dr. Frick’s unique perspective on crystal growth innovation, which is tightly coupled to US pre-eminence in space, will provide valuable insights that will help attendees understand the tangible benefits microgravity manufacturing has to offer the semiconductor community. 

    MIL OSI USA News –

  • MIL-OSI Economics: Energy storage solutions drive net-zero transition, says GlobalData

    Source: GlobalData

    Energy storage solutions drive net-zero transition, says GlobalData

    Posted in Disruptor

    In the race to achieve net-zero emissions, advanced energy storage technologies are emerging as a game-changer, transforming how various sectors harness renewable power. The latest breakthroughs, ranging from sodium-ion batteries that slash costs and improve safety to ultra-fast charging solutions that accelerate EV adoption, are reshaping the energy management across automotive, aerospace, residential, and commercial & industrial sectors among others, says GlobalData, a leading data and analytics company.

    Saurabh Daga, Project Manager of Disruptive Tech at GlobalData, comments: “Energy storage technologies are emerging as a cornerstone for the global shift to renewables, addressing critical challenges of intermittency and grid stability. Advanced solutions like solid-state batteries and sodium-ion alternatives are not just supplementing traditional lithium-ion systems but are driving significant improvements in safety, lifecycle, and cost efficiency. As industries from automotive to aerospace adopt these innovations, the potential to significantly reduce energy costs and cut greenhouse gas emissions becomes a tangible reality.”

    GlobalData’s latest Innovation Radar report, “Energy Storage: The Key to Unlocking a Sustainable Future”, highlights sector-specific advances and strategic innovations in energy storage, showcasing their potential to reshape industries like automotive, aerospace, and residential energy management.

    Automotive: Volkswagen subsidiary PowerCo’s partnership with QuantumScape has led to solid-state battery prototypes that could extend electric vehicle (EV) ranges up to 500,000 kilometers, setting new standards for durability and charging efficiency.

    Aerospace: GM Defense, a General Motors subsidiary, has developed an Ultium EV platform-based energy storage system for military use. The system supports multiple motors and adaptable configurations, reducing fossil fuel reliance and supply chain risks with its chemistry-agnostic design.

    Residential: Eaton’s collaboration with Tesla integrates Powerwall systems with advanced load management to provide homeowners with optimized energy use and backup capabilities during grid outages.

    Commercial & Industrial: Delectrik’s Vanadium flow batteries provide scalable, long-duration storage solutions for utility-scale renewable energy projects, and claim to reduce costs by up to 25% compared to traditional lithium-ion solutions.

    Daga concludes: “Energy storage is at the heart of the sustainable energy revolution, with the potential to transform how we store, manage, and deploy renewable power. Success will depend on scaling these technologies to meet the growing demand and fostering cross-industry collaborations that accelerate their adoption.”

    MIL OSI Economics –

  • MIL-OSI Economics: Australia PET imaging agents market to grow at 2% CAGR through 2033, forecasts GlobalData

    Source: GlobalData

    Australia PET imaging agents market to grow at 2% CAGR through 2033, forecasts GlobalData

    Posted in Medical Devices

    Prostate cancer is one of the most diagnosed cancers in Australia, making effective diagnostic tools and agents crucial for better patient outcomes. Positron emission tomography (PET) imaging agents, especially those targeting prostate-specific membrane antigen (PSMA), offer a powerful way to detect and monitor prostate cancer at a molecular level. Against this background, the Australian PET imaging agents market is expected to grow at a 2% CAGR through 2033, forecasts GlobalData, a leading data and analytics company.

    GlobalData’s Nuclear Imaging Agents Market Size by Segments, Share, Regulatory, Reimbursement and Forecast to 2033 report reveals that Australia accounts for around 15% of the Asia-Pacific nuclear imaging agents market in 2024.

    The Australian Therapeutic Goods Administration (TGA) has recently approved the use of Illuccix to diagnose prostate cancer and help identify a course of treatment, such as PSMA-targeted radionuclide therapy.

    Aditi Dakshesh Parikh, Medical Devices Analyst at GlobalData, comments: “The addition of this new indication is expected to bring a transformation in prostate cancer management as Illuccix remains the only PSMA-PET agent approved in Australia and listed on the Medicare Benefits Schedule, to date. By providing insights into cellular activity, PET imaging agents can detect disease recurrence and the effectiveness of the ongoing therapies can also be easily assessed.”

    The PET imaging agents’ market is witnessing a steady growth as these agents are poised to become integral not only in prostate cancer treatment but across a wider range of cancers.

    Parikh concludes: “PET imaging agents are becoming the essential components in modern medical diagnostics, setting new standards in clinical practice as a result of technological advancements in hybrid imaging systems such as PET/CT and PET/MRI, enhancing diagnostic accuracy and treatment outcomes.”

    MIL OSI Economics –

  • MIL-OSI Economics: US startups raise $91.7 billion VC funding during first three quarters of 2024, reveals GlobalData

    Source: GlobalData

    US startups raise $91.7 billion VC funding during first three quarters of 2024, reveals GlobalData

    Posted in Business Fundamentals

    The US saw a slight year-on-year (YoY) improvement in terms of venture capital (VC) funding deals value during the first three quarters (Q1-Q3) of 2024 despite a decline in deal volume. A total of 3,529 VC deals of worth $91.7 billion were announced during the period. This represents a YoY growth of 0.9% in funding value even as VC deal volume fell by 35.1%, according to GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Deals Database revealed that the US saw the announcement of 5,520 VC deals of worth $90.9 billion during Q1-Q3 2023.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Economic uncertainties, geopolitical tensions, and the ongoing conflicts have affected the US VC deal landscape in terms of deal volume. However, this did not impact the US’ dominance in global VC funding landscape.  as it continues to maintain a significant lead in VC funding activity by deal volume as well as value to other countries but the lead is now much more pronounced in terms of funding value. The US accounted for more than half of the VC funding amount raised globally during Q1-Q3 2024.”

    The US accounted for 28.9% share of the total number of VC deals announced globally during Q1-Q3 2024 while its share of the corresponding funding value stood much higher at 50.1%.

    It is also noteworthy that the US witnessed announcements of 209 VC deals valued more than or equal to $100 million during Q1-Q3 2024 whereas the number of such deals during Q1-Q3 2023 stood at 162.

    Some of the notable VC funding deals announced in the US during Q1-Q3 2024 include: $6 billion raised by X.AI, $1.5 billion by Anduril Industries, $1.1 billion by CoreWeave, $1 billion by Scale AI, $1 billion by Wiz, $1 billion by Xaira Therapeutics and $1 billion worth funding raised by Safe Superintelligence.

    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: India’s sustainable eating habits offer glimmer of hope to mitigate climate change, says GlobalData

    Source: GlobalData

    India’s sustainable eating habits offer glimmer of hope to mitigate climate change, says GlobalData

    Posted in Consumer

    Sustainable eating encompasses of practices such as minimizing food waste, prioritizing plant-based diets, and consuming locally sourced foods. India is known for its extensive history of vegetarian diets. As the world grapples with the urgent need to address climate change, India’s sustainable eating habits offer a glimmer of hope to address the heightened ecological concerns, according to GlobalData, a leading data and analytics company.

    India’s traditional, climate friendly dietary habits have been spotlighted as a global blueprint for sustainable living in a recent Living Planet Report by the World Wide Fund for Nature (WWF). It identified India’s food consumption pattern as the most climate friendly among G20 nations. The report further stated that if all countries across the globe would adopt the current food consumption pattern of India, the world would need 0.84% of an Earth to support food production by 2050+.

    Shravani Mali, Consumer Analyst at GlobalData, comments: “In recent years, India observed an intensified vegan movement, especially in metropolitan cities. The country’s current food consumption practices, emphasizing plant-based diets and climate-resilient crops such as millets, require fewer resources and generate lower emissions compared to meat-heavy diets. This transition is also connected to a wider focus on sustainability. Underlining this trend, 79% of Indian respondents in GlobalData’s recent consumer survey stated that the sustainable/environmentally friendly feature is essential/nice to have when deciding to make a food and drinks purchase*.”

    Mali adds: “Traditional Indian diets primarily consist of lentils, grains, and vegetables. For instance, “Thali” is a meal that includes a combination of various food groups and shows a strong connection to the country’s land and history. These traditional diets, which place an emphasis on seasonal and local produce, are becoming more popular as environmental issues gain more attention. Consequently, with increasing awareness, consumers will look forward to curtailing environmental burdens by adopting traditional dietary practices that prioritize plant-based foods.”

    Deepak Nautiyal, Consumer and Retail Commercial Director, APAC and Middle East at GlobalData, notes: “The Indian government has introduced several initiatives to promote environmentally sustainable practices in the country. For instance, the government launched schemes such as National Millet Campaign and the International Year of Millets (2023) to enhance the production and consumption of millets since it is an environmentally sustainable source of food and nutrition. In addition to this, the National Mission for Sustainable Agriculture (NMSA) aims to improve climate-resilient farming.

    “Furthermore, the socioeconomic advantages of sustainable food production are exemplified by the Andhra Pradesh Community-Managed Natural Farming (APCNF) program in southern India. Hence, these initiatives have positively contributed to India’s food practices as a model of sustainability.”

    Mali concludes: “By adopting climate-friendly diet, individuals can make a tangible impact on the environment. Adopting Indian sustainable eating habits worldwide offers a clear path to address critical environmental and health challenges. With the food system being one of major contributors to global greenhouse gas emissions, shifting towards plant-based diets, as exemplified by Indian cuisine, could reduce emissions significantly, creating a more sustainable future for generations to come.”

    *GlobalData 2024 Q3 Consumer Survey – India, with 500 respondents, published October 2024

    MIL OSI Economics –

  • MIL-OSI Russia: In October, the service “Removal of Unnecessary Things” receives about a thousand applications per week

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Service “Removal of unnecessary things” is becoming increasingly popular among Muscovites. Every week in October, about a thousand applications for the disposal of items are received from residents of the capital. Most often, city residents get rid of worn-out sofas, electronics and old household appliances, including washing machines and refrigerators.

    With the help of the service, Muscovites can get rid of unnecessary things in a simple, convenient and environmentally friendly way. City residents do not need to look for movers and transport, special disposal sites – the removal of household appliances and metal objects is handled by a partner company connected to the service. At the appointed time, the craftsmen will come to the user, take out old and unnecessary things from the apartment, lower them down and load them into the car. If necessary, they will disconnect the equipment from communications and the power grid. However, built-in equipment, such as a dishwasher, must be dismantled by the owners themselves.

    To remove unnecessary things you will need fill out an online application on the mos.ru portal. You need to specify the address, items and their quantity. Then you should select the expected date and time of removal.

    Things are sent to environmentally friendly recycling points. More than 85 percent returned items are recycled, and the resulting material is reused. Thus, thanks to the service, you can not only get rid of old things, but also take care of the environment. After all, old household appliances contain dangerous elements, toxic additives and heavy metals that lead to soil erosion, groundwater and air pollution.

    How to celebrate in the capital’s Department of Information Technology, Residents of all districts of Moscow who have a valid ID can use the service. a standard or full account on the mos.ru portal. Large-sized equipment, metal products, cars and motorcycles are removed free of charge.

    Sergei Sobyanin told how the service “Removal of unnecessary things” helps Muscovites

    Work and development service “Removal of unnecessary things” supervise the capital’s departments information technology, housing and communal services and the State Institution “New Management Technologies”. Removal services are provided by a specialized partner organization.

    The use of digital technologies and artificial intelligence to improve the quality of life of city residents corresponds to the objectives of the national program “Digital Economy of the Russian Federation” and the regional project of the capital “Digital Public Administration”. More information about this and other national projects implemented in Moscow, You can find out here.

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

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.mos.ru/nevs/item/145648073/

    MIL OSI Russia News –

  • MIL-OSI Russia: No extra waiting: the voice assistant of the unified control center began to receive 54 times more calls

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Since 2020, the voice assistant of the hotline of the unified dispatch center (EDC) has received more than 14 million calls from residents. Of these, over four million were in 2024. In the capital Department of Information Technology of the City of Moscow They said that over four years, the number of calls processed by artificial intelligence has increased 54 times. Thanks to this, residents can resolve issues faster, without wasting time on additional waiting.

    “The hotline of the unified dispatch center has been operating for eight years already; since 2020, a voice assistant has been helping operators answer calls from residents and create requests. At the same time, the virtual assistant processes up to 50 percent of all requests independently, without involving an operator. Thanks to the use of artificial intelligence, the number of calls received on the EDC line has increased threefold during this time: if in the first year of operation the line answered two million requests, then since the beginning of 2024 – already 6.4 million. In order to promptly help city residents, we are systematically working to improve artificial intelligence technologies: new topics and scenarios for voice assistant consultations are being introduced, the load is predicted and incoming calls are redistributed,” said Andrey Savitsky, head of the citywide contact center.

    In the first year of operation, the virtual assistant only accepted requests for heating-related questions. The voice assistant’s knowledge base is constantly being updated, and now it contains 150 topics. Since 2023, artificial intelligence has begun to process calls related to noise in the entrance, basement, water supply or heating systems. In addition, you can call the hotline to report malfunctioning lighting fixtures and switches in the entrance, leaks in the roof and plumbing, as well as improper maintenance of green spaces in the yard.

    In 2024, the knowledge base of the EDC voice assistant was expanded with 59 new topics in terms of eliminating defects, such as leaks in the house, as well as landscaping the yard area. Topics related to plumbing and electricity were also added.

    Voice assistant and call redistribution: DIT Moscow – about how the hotline of the single dispatch center worksA Million More Calls: How Digital Technologies Make City Hotlines More Accessible to Muscovites

    A voice assistant with a robotic male voice answers the EDC hotline for residents. A conversation with the virtual assistant takes no more than two minutes. If problems arise in an apartment, residents are asked clarifying questions and then offered to fill out a request for a technician to be called, which is sent to the district’s unified dispatch service. After that, the virtual assistant provides the request number and the time frame for its completion. If more detailed advice is needed, it transfers the call to an operator.

    Since last year, the voice assistant has been conducting surveys among residents on the quality of consultations. After the dialogue is over, it offers to rate how satisfied the person is with its work. Muscovites rate the overall impression of communication and convenience in solving the issue at an average of four out of five.

    The EDC hotline operates as part of the capital’s citywide contact center. More than a thousand dispatch services are connected to it. Calls are accepted around the clock at: 7 495 539-53-53. Each request is registered and sent to the district’s unified dispatch service, and the resident is informed of its number and deadline.

    Most often, city residents contact the EDC hotline to leave a request for a technician to fix problems related to the lighting in the entrance hall and the operation of the elevator, garbage collection, cleaning the garbage chute or the lack of electricity in the apartment, as well as to receive advice on other housing and communal issues. About 747 thousand calls are received monthly. At the same time, 80 percent of requests for troubleshooting are resolved within 24 hours.

    In addition to the EDC hotline, you can submit an application to the unified dispatch center in other ways – online using the service “Call the Master” on mos.ru, platforms “Electronic House” and via mobile application “Gosuslugi Moskvy”If the house is not connected to the Unified Dispatch Center, residents can contact the control room of the management company.

    Report a malfunction or call a technician: how the unified control center works

    The use of digital technologies and artificial intelligence to improve the quality of life of city residents is in line with the objectives of the national program “Digital Economy of the Russian Federation” and the regional project “Digital Public Administration”. More information about this and other national projects implemented in the capital can be found Here.

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

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.mos.ru/nevs/item/145607073/

    MIL OSI Russia News –

  • MIL-OSI Russia: Digital accounting and computer vision: how Moscow is developing information services in the financial sector

    Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    The capital has been developing information technologies in the field of public finance for more than 12 years. This was stated Elena Zyabbarova, Minister of the Moscow Government, head of the capital’s Department of Finance, at the panel discussion “The Digital Future of the Budget: Technologies and Efficiency” at the Moscow Financial Forum.

    “Today, each city sector has its own technological platform, on which both its management and the provision of services to city residents and other end users are built. And the sphere of public finances is no exception. Due to the creation of modern services, their integration with city and federal information systems, we have significantly increased the quality and speed of the budget process in Moscow, and in general, a colossal paradigm shift has occurred,” the head of the department said.

    In Moscow, digitalization has helped to get rid of paper document flow, create digital workplaces, increase the speed of payments and strengthen control over the use of budget funds. Big data processing systems have made it possible to conduct a detailed industry analysis of budget revenues, monitor the state of the economy and significantly increase the accuracy of assessing the income of the city treasury.

    The discussion participants emphasized that further digitalization is impossible without deepening integration between departmental information and analytical systems, developing unified standards for managing and accounting budget funds. Big data processing technologies and artificial intelligence algorithms are coming to the forefront today.

    The use of artificial intelligence algorithms significantly expands the capabilities of financiers: the machine can be trusted to carry out routine operations and free up the time of specialists for analytical work.Department of Finance of the City of Moscow already working service using computer vision when authorizing transactions of treasury support participants. In addition, the department is implementing algorithms for robotizing the formation and authorization of payment documents for payment of government contracts.

    A fundamentally new system has made it possible to unify budget accounting procedures in Moscow centralized budget accounting model. It enables accounting according to general rules using a single chart of accounts and document forms and at the same time in accordance with the specifics of various urban economic complexes. Digital accounting allows obtaining large data sets and comparing the financial and economic performance indicators of institutions.

    Together with the Federal Treasury of the Russian Federation Department of Finance of the City of Moscow is working on the implementation of customer-oriented services. This is the use of the Mir payment system for all types of social payments to residents of the capital and the creation of an automated payment system for city purchases of goods and services using fast payment technology.

    “In the future, budget management will be based on constant diagnostics of changing conditions. On the one hand, it will become fast and flexible, comfortable for all participants in the process, and on the other hand, it will eliminate possible errors as much as possible and provide a high level of security,” Elena Zyabbarova emphasized.

    The use of digital technologies to improve the quality of life of city residents is in line with the objectives of the national program “Digital Economy of the Russian Federation” and the Moscow regional project “Digital Public Administration”. More information about this and other national projects implemented in the capital can be found Here.

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

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    https://vvv.mos.ru/nevs/item/145637073/

    MIL OSI Russia News –

  • MIL-OSI China: Health envoy along Belt and Road

    Source: China State Council Information Office 2

    In the following video, Zhong Shuming, a researcher and engineer at Neusoft Medical Systems Co. Ltd. based in Northeast China, recounts how her company has been exploring ways to make advanced medical devices more accessible in China and globally.
    Follow China.org.cn on Twitter and Facebook to join the conversation.ChinaNews App Download

    MIL OSI China News –

  • MIL-OSI: Unifiedpost Group announces changes in Leadership team and Board composition

    Source: GlobeNewswire (MIL-OSI)

    INSIDE INFORMATION

    La Hulpe, Belgium – 23 October 2024, 7:00 am. CET – INSIDE INFORMATION – Unifiedpost Group SA (Euronext Brussels: UPG) (Unifiedpost, Company), a leading provider of integrated business communications solutions, announces the appointment of Nicolas de Beco as its CEO, effective December 1, 2024. Founder and current CEO Hans Leybaert will transition to Executive Chairman. Additionally, the Board has co-opted two new members: Crescemus BV, represented by Pieter Bourgeois, and PDMT Investments LLC, represented by Peter Mulroy. The Board further plans to nominate potential Board members at the next Ordinary General Shareholder Meeting. These changes align with our commitment to enhance governance and strengthen the position of Unifiedpost.

    Summary of appointments:

    • Nicolas de Beco has been appointed as the new CEO of Unifiedpost, effective December 1, 2024. Nicolas succeeds Hans Leybaert, who will transition to Executive Chairman of the Board.
    • Crescemus BV, represented by Pieter Bourgeois, has been co-opted as a non-executive director, replacing AS Partner BV, represented by Stefan Yee, who stepped down on October 1, 2024. Crescemus will represent Alychlo NV in the Board. The mandate will take effect as from October 23, 2024.
    • PDMT Investments LLC, represented by Peter Mulroy, has been co-opted as independent director, replacing Sopharth BV, represented by Philippe De Backer, who stepped down on October 1, 2024. The mandate will take effect as from October 23, 2024.
    • The Board plans to nominate four potential Board members at the next Ordinary Shareholder Meeting in May 2025.

    Appointment of Nicolas de Beco as CEO; Hans Leybaert becomes executive chairman.

    Unifiedpost is pleased to announce Nicolas de Beco as its new CEO, effective December 1, 2024. Nicolas will succeed Hans Leybaert, who will transition into the role of Executive Chairman. Nicolas brings extensive experience in scaling SaaS businesses and driving operational excellence, both of which are essential to Unifiedpost’s current strategic priorities, as the company continues to execute on its organic growth plans and capitalise on opportunities arising from regulatory reforms across Europe. Hans Leybaert will remain on board to guide the strategy implementation of the company.

    Hans Leybaert stated, “We welcome Nicolas as our new CEO, and I am excited to transition into the role of Executive Chairman. Nicolas brings a wealth of experience to Unifiedpost, having served as Senior Vice President of Strategy at Quadient and President of the French Foreign Trade Advisors in New England. His proven ability to understand and address customer needs aligns with our commitment to customer-centric innovation. I am confident that this transition will keep Unifiedpost on track to becoming the leading digital platform for administrative, financial, payment, and communication processes. Nicolas will bring fresh ideas that will accelerate our growth.”

    Nicolas de Beco stated: “I’m excited to join Unifiedpost, Europe’s leading SaaS provider for Financial Automation. With the support of 1.000+ dedicated employees and a strong base of 1,3 million customers, I look forward to leading the team towards sustained, profitable growth and shareholder returns.”

    Co-optation of new Board members

    Following the announcement on July 8, 2024, Stefan Yee, representing AS Partners BV, has decided to voluntarily step down as chairman and member of the Board after nearly 10 years of service since 2014, effective October 1, 2024. Additionally, Philippe De Backer, representing Sopharth BV, has also stepped down from the Board effective October 1, 2024, due to a new professional commitment that prevents his continued service on the Unifiedpost Board.

    Following this, the Board of Directors has decided to co-opt Pieter Bourgeois, representing Crescemus BV, and Peter Mulroy, representing PDMT Investments LLC, as directors effective October 23, 2024. Pieter Bourgeois, who will replace Stefan Yee, is the CEO of Alychlo NV and will represent Alychlo on the Board. Peter Mulroy, replacing Philippe De Backer, will serve as an independent director and brings over 40 years of experience in global trade, receivables, and supply chain finance. The Board will seek ratification of these appointments from the Ordinary General Shareholder Meeting in May 2025. These changes reflect Unifiedpost’s commitment to maintaining a diverse and experienced Board, ensuring strong corporate governance. The newly appointed members’ extensive international experience aligns with Unifiedpost’s ambitions to accelerate the growth of digital services and enhance value for our shareholders and customers.

    Commenting on the announcement, Hans Leybaert stated, “First and foremost, I want to express my sincere gratitude to Stefan Yee and Philippe De Backer for their significant contributions to Unifiedpost during their tenure on our Board. Their insights and dedication have been invaluable to our growth. As we welcome Pieter Bourgeois and Peter Mulroy as new members, I am confident that their expertise will further enhance our governance. Pieter, representing Alychlo, underscores our commitment to a strong Board, while Peter’s extensive background in global trade and finance will be instrumental as we continue to advance our strategic objectives. We look forward to the fresh perspectives our new Board members will bring while building upon the strong foundation laid by their predecessors”.

    Pieter Bourgeois, CEO of Alychlo, added, “As long-term investors, we have always believed in the company’s potential and the value it can unlock for all shareholders. We appreciate the collaborative approach taken by Unifiedpost’s leadership to implement these governance changes, which we believe are a testament to Unifiedpost’s commitment to adopt best practices and strengthen oversight. I am honoured to join the board and look forward to working collaboratively with my fellow directors and management to drive sustainable growth, operational excellence, and long-term value creation for all stakeholders.”

    Planned nominations by the Board.

    To further expand the experience of the Board and give it a more international character, the Board shall propose to nominate four additional directors at the next Ordinary General Shareholder Meeting, scheduled for May 20, 2025:

    • Nathalie Van den Haute, representing Quilaudem BV, shall be proposed to be nominated as a non-executive director. Nathalie is an Investment Principal at Alychlo NV and will represent Alychlo on the Board. She has extensive experience in corporate finance and equity capital markets, having held various leadership positions at KBC Securities.
    • Koen Hoffman, representing Ahok BV, shall be proposed to be nominated as an independent director. Koen is the CEO of Value Square and serves on the boards of Greenyard, Fagron, and MDxHealth in independent capacities.
    • Leanne Kemp shall be proposed to be nominated as an independent director. Leanne is the founder and CEO of Everledger. A prominent figure in the technology sector, she co-chairs the World Economic Forum’s Global Future Council on the Future of Manufacturing and participates in the Global Future Council on Blockchain. Additionally, Leanne leads workstreams at the Global Blockchain Business Council, co-chairs the Sustainable Trade Action Group for the World Trade Board and serves on the IBM Blockchain Platform Board of Advisors.  
    • Nicolas de Beco, representing Beco Global Consulting LLC, shall be proposed to be nominated as executive director.

    The Board shall propose to nominate them for a four-year term, effective from the next Ordinary General Shareholder Meeting. Additionally, the Board shall propose that the shareholders align the terms of the mandates for Crescemus BV and PDMT Investments LLC with this four-year term.

    With these changes to its governance structure, Unifiedpost highlights the international experience of its Board. This reinforces the company’s ambition to become a leading Pan-European player in its market segment.

    Please visit Unifiedpost’s website for more information about the Board of Directors.

    Contact:
    Alex Nicoll
    Investor Relations
    Unifiedpost Group
    alex.nicoll@unifiedpost.com

    About Unifiedpost Group

    Unifiedpost is a leading cloud-based platform for SME business services built on “Documents,” “Identity” and “Payments”. Unifiedpost operates and develops a 100% cloud-based platform for administrative and financial services that allows real-time and seamless connections between Unifiedpost’s customers, their suppliers, their customers, and other parties along the financial value chain. With its one-stop-shop solutions, Unifiedpost’s mission is to make administrative and financial processes simple and smart for its customers. For more information about Unifiedpost Group and its offerings, please visit our website: Unifiedpost Group | Global leaders in digital solutions

    Cautionary note regarding forward-looking statements: The statements contained herein may include prospects, statements of future expectations, opinions, and other forward-looking statements in relation to the expected future performance of Unifiedpost Group and the markets in which it is active. Such forward-looking statements are based on management’s current views and assumptions regarding future events. By nature, they involve known and unknown risks, uncertainties, and other factors that appear justified at the time at which they are made but may not turn out to be accurate. Actual results, performance or events may, therefore, differ materially from those expressed or implied in such forward-looking statements. Except as required by applicable law, Unifiedpost Group does not undertake any obligation to update, clarify or correct any forward-looking statements contained in this press release in light of new information, future events or otherwise and disclaims any liability in respect hereto. The reader is cautioned not to place undue reliance on forward-looking statements.

    Attachments

    The MIL Network –

  • MIL-OSI: Planisware – Q3 2024 revenue

    Source: GlobeNewswire (MIL-OSI)

    Q3 2024 revenue of € 47.0 million

    • Year-on-year revenue growth in constant currencies of +18.7% in Q3 and +19.3% for the 9 first months of the year
    • Record high commercial pipeline but longer customer decision-making process driving delayed signature and start of new contracts
    • More cautious view on revenue growth in Q4
    • Improving profitability thanks to continuous progress in operational efficiency and better activity mix
    • Revision of 2024 objectives announced in September 2023:
      • 2024 revenue growth in constant currencies between +17% and +18%
        (vs. c. 19.5%)
      • Adjusted EBITDA margin raised to approximately 34% (vs. c. 33%)
      • Cash Conversion Rate of c. 80% confirmed

    Paris, October 23, 2024 – Planisware, a leading B2B provider of SaaS in the rapidly growing Project Economy market, announces today its revenue for the third quarter of 2024. Revenue amounted to € 47.0 million, up by +18.2% in current currencies, mainly led by the continued success of the Group’s market-leading SaaS platform. In constant currencies, revenue growth reached +18.7% (€+7.4 million) in Q3 and +19.3% (€+21.6 million) for the first nine months of the year. Recurring revenue amounted to €41.4 million in Q3 (88% of revenue) and was up by +21.2% in constant currencies.

    Loïc Sautour, CEO of Planisware, commented: “During the third quarter of 2024, Planisware delivered a solid +18.7% revenue growth in constant currencies, led by the continued success of our SaaS operations. This was a bit lower than expected due to elongated customers’ decision-making process since the end of the summer on the back of political concerns in France and difficulties seen in some of our key verticals such as automotive.

    Taking into account some uncertainties in the closing timing of delayed signatures and the start of some contracts, we adopt a cautious view for the end of the year. As a results, we now target annual revenue growth between +17% and +18% in constant currencies.

    In parallel, we continue to benefit from the evolution of our activity mix and to deliver further operational efficiencies on employee-related costs enabling to raise our 2024 profitability objective to c. 34% while confirming our cash conversion rate objective of c. 80%.

    Beyond the current quarter, we continue to build on our record high commercial pipeline fuelled by increasing demands for strategic portfolio management tools that help companies to better align their resources with strategic business goals. This dynamic is paving the way towards our ambition to be the accelerator of the Project Economy and the number one provider of multi-specialty project and portfolio management software solutions.”

    Q3 2024 revenue by revenue stream

    In € million Q3 2024 Q3 2023 Variation
    YoY    		 Variation
    in cc*
    Recurring revenue 41.4 34.3 +20.7% +21.2%
    SaaS & Hosting 20.8 17.1 +21.9% +22.3%
    Evolutive support 13.0 10.4 +24.6% +25.2%
    Subscription support 2.8 2.2 +29.4% +30.3%
    Maintenance 4.8 4.6 +3.8% +4.1%
    Non-recurring revenue 5.6 5.1 +8.3% +8.7%
    Perpetual license 2.0 1.3 +57.3% +58.0%
    Implementation & others non-recurring 3.5 3.8 -8.1% -7.9%
    Revenue with customers 47.0 39.4 +19.1% +19.6%
    Other revenue – 0.3    
    Total revenue 47.0 39.7 +18.2% +18.7%

    * Revenue evolution in constant currencies, i.e. at Q3 2023 average exchange rates

    Reaching €47.0 million in Q3 2024, revenue was up by +18.2% in current currencies and +18.7% in constant currencies. The exchange rates effect was mostly related to the appreciation of the euro versus the US dollar and the Japanese yen compared to Q3 2023. In order to reflect the underlying performance of the Company independently from exchange rates fluctuations, the following analysis refers to revenue evolution in constant currencies, applying Q3 2023 average exchange rates to Q3 2024 revenue figures, unless expressly stated otherwise.

    Recurring revenue

    Representing 88% of Q3 2024 revenue versus 86% in Q3 2023, recurring revenue reached €41.4 million, up by +21.2%.

    Revenue growth was fully led by Planisware’s SaaS model (i.e. SaaS & Hosting and Evolutive & Subscription support) up +23.9%, with SaaS & Hosting revenue up by +22.3% thanks to contracts secured with new customers as well as continued expansion within the installed base. Revenue of support activities (Evolutive & Subscription support), intrinsically related to Planisware’s SaaS offering, grew by +26.1%.

    Maintenance revenue was up by +4.1% in the context of the Group’s shift from its prior license model to a SaaS model.

    Non-recurring revenue

    Non-recurring revenue was up by +8.7%, helped by perpetual licenses extensions and upgrades sold in Q3 2024 to established customers with specific on-premise needs.

    The continued effort to deliver shorter implementations and to bring value faster to customers continued to drive down the planned revenue decline in Implementation. At -7.9% in Q3, revenue decline was accented by delays in the start of projects.

    Confirmed leadership of Planisware

    Planisware’s broad recognition from third-party industry analysts was further confirmed by the latest 2024 Gartner® “Magic QuadrantTMfor Adaptive Project Management and Reporting report.” published on September 5, 2024 and in which Gartner reasserted Planisware as a Leader, emphasizing “robust integrations, dynamic reporting, and native collaboration functionality” and a roadmap that “includes investments to bolster objective and key result (OKR) capabilities, automate work effort tracking, and deliver additional AI-driven features”.

    2024 objectives

    During its process to prepare its IPO, Planisware communicated to investors its 2024 objectives as early as September 2023.

    Planisware communicates today a revised set of 2024 objectives to take into account the uncertainties in the closing timing of delayed signatures and the start of some contracts. The Group adopts a more cautious view for year-end revenue growth. In parallel, continuous progress in operational efficiency and improving activity mix enable Planisware to raise its profitability objective, while confirming its objective for cash generation. As a consequence, Planisware’s 2024 objectives are:

    • Revenue growth in constant currencies between +17% and +18% (c. 19.5% priorly)
    • Adjusted EBITDA margin of approximately 34% (approximately 33% priorly)
    • Cash Conversion Rate of c.80% confirmed

    Appendices

    YTD 2024 revenue by revenue stream

    In € million 9M 2024 9M 2023 Variation
    YoY    		 Variation
    in cc*
    Recurring revenue 118.0 96.4 +22.5% +22.9%
    SaaS & Hosting 59.6 46.6 +27.8% +28.0%
    Evolutive support 35.9 29.8 +20.4% +21.1%
    Subscription support 8.4 6.3 +34.8% +35.0%
    Maintenance 14.1 13.6 +3.4% +3.5%
    Non-recurring revenue 15.5 15.3 +1.9% +2.0%
    Perpetual license 6.1 3.6 +70.1% +70.4%
    Implementation & others non-recurring 9.4 11.7 -19.2% -19.1%
    Revenue with customers 133.6 111.6 +19.7% +20.0%
    Other revenue – 0.7    
    Total revenue 133.6 112.3 +18.9% +19.3%

    * Revenue evolution in constant currencies, i.e. at 9M 2023 average exchange rates

    Q3 2024 revenue Investors & Analysts conference call

    Planisware’s management team will host an international conference call on October 23, 2024 at 8:00am CET to details Q3 2023 performance and key achievements, by means of a presentation followed by a Q&A session. The webcast and its subsequent replay will be available on planisware.com.

    Upcoming event

    • February 27, 2025:        FY 2024 results publication

    Contact

    About Planisware

    Planisware is a leading business-to-business (“B2B”) provider of Software-as-a-Service (“SaaS”) in the rapidly growing Project Economy. Planisware’s mission is to provide solutions that help organizations transform how they strategize, plan and deliver their projects, project portfolios, programs and products.

    With more than 700 employees across 14 offices, Planisware operates at significant scale serving around 600 organizational clients in a wide range of verticals and functions across more than 30 countries worldwide. Planisware’s clients include large international companies, medium-sized businesses and public sector entities.

    Planisware is listed on the regulated market of Euronext Paris (Compartment A, ISIN code FR001400PFU4, ticker symbol “PLNW”). For more information, visit: https://planisware.com/

    Connect with Planisware on: LinkedIn and X (formerly Twitter).

    Disclaimer

    Forward-looking statements

    This document contains statements regarding the prospects and growth strategies of Planisware. These statements are sometimes identified by the use of the future or conditional tense, or by the use of forward-looking terms such as “considers”, “envisages”, “believes”, “aims”, “expects”, “intends”, “should”, “anticipates”, “estimates”, “thinks”, “wishes” and “might”, or, if applicable, the negative form of such terms and similar expressions or similar terminology. Such information is not historical in nature and should not be interpreted as a guarantee of future performance. Such information is based on data, assumptions, and estimates that Planisware considers reasonable. Such information is subject to change or modification based on uncertainties in the economic, financial, competitive or regulatory environments.

    This information includes statements relating to Planisware’s intentions, estimates and targets with respect to its markets, strategies, growth, results of operations, financial situation and liquidity. Planisware’s forward-looking statements speak only as of the date of this document. Absent any applicable legal or regulatory requirements, Planisware expressly disclaims any obligation to release any updates to any forward-looking statements contained in this document to reflect any change in its expectations or any change in events, conditions or circumstances, on which any forward-looking statement contained in this document is based. Planisware operates in a competitive and rapidly evolving environment; it is therefore unable to anticipate all risks, uncertainties or other factors that may affect its business, their potential impact on its business or the extent to which the occurrence of a risk or combination of risks could have significantly different results from those set out in any forward-looking statements, it being noted that such forward-looking statements do not constitute a guarantee of actual results.

    Rounded figures

    Certain numerical figures and data presented in this document (including financial data presented in millions or thousands and certain percentages) have been subject to rounding adjustments and, as a result, the corresponding totals in this document may vary slightly from the actual arithmetic totals of such information.

    Variation in constant currencies

    Variation in constant currencies represent figures based on constant exchange rates using as a base those used in the prior year. As a result, such figures may vary slightly from actual results based on current exchange rates.

    Non-IFRS measures

    This document includes certain unaudited measures and ratios of the Group’s financial or non-financial performance (the “non-IFRS measures”), such as “recurring revenue”, “non-recurring revenue”, “gross margin”, “Adjusted EBITDA”, “Adjusted EBITDA margin”, “Adjusted Free Cash Flow”, “cash conversion rate”, “churn rate” and “Net Retention Rate” (or “NRR”). Non-IFRS financial information may exclude certain items contained in the nearest IFRS financial measure or include certain non-IFRS components. Readers should not consider items which are not recognized measurements under IFRS as alternatives to the applicable measurements under IFRS. These measures have limitations as analytical tools and readers should not treat them as substitutes for IFRS measures. In particular, readers should not consider such measurements of the Group’s financial performance or liquidity as an alternative to profit for the period, operating income or other performance measures derived in accordance with IFRS or as an alternative to cash flow from (used in) operating activities as a measurement of the Group’s liquidity. Other companies with activities similar to or different from those of the Group could calculate non-IFRS measures differently from the calculations adopted by the Group.

    Non-IFRS measures included in this document are defined as follows:

    • Adjusted EBITDA is calculated as Current operating profit including share of profit of equity-accounted investees, plus amortization and depreciation as well as impairment of intangible assets and property, plant and equipment, plus either non-recurring items or non-operating items.
    • Adjusted EBITDA margin is the ratio of Adjusted EBITDA to total revenue.
    • Adjusted FCF (Free Cash Flow) is calculated as cash flows from operating activities, plus IPO costs paid, if any, less other financial income and expenses classified as operating activities in the cash-flow statement, and less net cash relating to capital expenditures.
    • Cash Conversion Rate is defined as Adjusted FCF divided by Adjusted EBITDA. Planisware considers Cash Conversion Rate to be a meaningful financial measure to assess and compare the Group’s capital intensity and efficiency.
    • Net cash position is defined as Cash minus indebtedness excluding lease liabilities.

    Attachment

    The MIL Network –

  • MIL-OSI: TGS Announces Birmingham-Gemini 3D Seismic Survey in Appalachian Basin

    Source: GlobeNewswire (MIL-OSI)

    OSLO, Norway (23 October 2024) – TGS, a global leader in energy data and intelligence, today announced an extension to the Birmingham 3D seismic survey covering 276 square miles. The survey is strategically located on the western flank of the Appalachian Basin, aligning with the most prospective trend of the Utica-Point Pleasant formation and Clinton sands.

    Kristian Johansen, CEO of TGS, commented: “The Birmingham-Gemini 3D survey reflects TGS’ commitment to uncovering the Appalachian Basin’s potential. Combined with our well-log database and analytical products, it provides clients with critical insights to drive exploration and production success, highlighting our dedication to delivering premium geoscience data for informed decision-making.”

    The Birmingham-Gemini 3D seismic survey will target key formations in the Appalachian Basin, including the Ordovician Trenton, Black River, Utica/Point Pleasant, Cambrian reservoirs, and Silurian Clinton sands. Positioned up-dip from the Utica condensate and gas trend, the survey aims to explore the under-explored Point Pleasant oil window.

    Using advanced seismic imaging, the project will map deep structures to identify hydrocarbon traps, analyze facies changes and optimize well placement. These insights will aid operators in refining exploration and production strategies.

    TGS will enhance the seismic data by integrating it with its extensive Appalachian geologic and well database, including over 480,000 well logs. Proprietary formation tops and well performance metrics, available through the TGS Well Data Analytics platform, provide clients with comprehensive analysis for deeper insights into the region’s potential.

    Recording for the Birmingham-Gemini 3D survey will commence in early 2025, with the fully processed dataset available to clients by year-end.

    This project is supported by industry funding.

    For more information, visit TGS.com or contact:

    Bård Stenberg
    IR & Business Intelligence
    Mobile: +47 992 45 235
    investor@tgs.com

    About TGS
    TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit http://www.tgs.com (https://www.tgs.com/).

    Forward Looking Statement
    All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

    The MIL Network –

  • MIL-OSI: WithSecure Interim report 1 January – 30 September 2024: Elements software continues growth, profitability maintained despite challenges in services

    Source: GlobeNewswire (MIL-OSI)

    WithSecure Corporation, Interim report 1 January – 30 September 2024, 23 October 2024 at 8.00 EEST

    WithSecure Interim report 1 January – 30 September 2024: Elements software continues growth, profitability maintained despite challenges in services

    Highlights of July – September 2024 (“third quarter”)

    • Annual Recurring Revenue (ARR)1 for Elements Cloud products and services2 increased by 11% to EUR 81.8 million (EUR 73.8 million)
    • Elements Cloud ARR decrease from previous quarter was 1%
    • Net Revenue Retention for Elements Cloud was 104%
    • Revenue for Elements Cloud increased by 9% to EUR 20.7 million (EUR 19.0 million)
    • ARR for Cloud Protection for Salesforce increased by 38% to EUR 10.2 million (EUR 7.4 million)
    • CPSF Revenue increased by 20% to EUR 2.4 million (EUR 2.0 million)
    • Cyber security consulting revenue declined by 1% to EUR 7.5 million (EUR 7.7 million)
    • Adjusted EBITDA for WithSecure was EUR 1.9 million (EUR -2.3 million)
    • Items affecting comparability (IAC) of EBITDA were EUR -0.4 million (EUR -0.2 million).
    • Consulting-related goodwill was impaired by EUR 15.5 million in the third quarter
    1. Annual recurring revenue (ARR) of cloud products is calculated by multiplying monthly recurring revenue of last month of quarter by twelve.  Monthly recurring revenue includes recognized revenue within the month excluding non-recurring revenue
    2. Elements Cloud includes Elements Cloud portfolio software and services as well as the managed services

    Highlights of January – September 2024

    • Revenue for Elements Cloud products and services increased by 10% to EUR 61.8 million (EUR 56.4 million)
    • CPSF revenue increased by 5% to EUR 6.6 million (EUR 6.3 million)
    • Cyber security consulting revenue increased by 2% to EUR 23.6 million (EUR 23.2 million)
    • Adjusted EBITDA for WithSecure was EUR 0.7 million (EUR -16.3 million)
    • Items affecting comparability (IAC) of EBITDA were EUR -0.9 million (EUR -3.4 million).

    Outlook for 2024

    Outlook for 2024 (updated on 11 October 2024)
    Annual recurring revenue (ARR) for Elements Cloud products and services will grow by 6–14 % from the end of 2023. At the end of 2023, Elements Cloud ARR was EUR 78.4 million.

    Revenue from Elements Cloud products and services will grow by 8–12 % from previous year. Previous year revenue from Elements Cloud was EUR 76.1 million.

    Total revenue of the group will grow by 2– 5 % from previous year. Previous year revenue of the group was EUR 142.8 million.

    Adjusted EBITDA of full year 2024 will be positive.

    Outlook for 2024 (previous)
    Annual recurring revenue (ARR) for Elements Cloud products and services will grow by 10–20 % from the end of 2023. At the end of 2023, Elements Cloud ARR was EUR 78.4 million.

    Revenue from Elements Cloud products and services will grow by 10–16 % from previous year. Previous year revenue from Elements Cloud was EUR 76.1 million.

    Total revenue of the group will grow by 6–12 % from previous year. Previous year revenue of the group was EUR 142.8 million.

    Adjusted EBITDA of full year 2024 will be positive.

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

    CEO Antti Koskela

    In the third quarter of 2024, WithSecure ARR for Elements Cloud products and services grew by 11 % to EUR 81.8 million (EUR 73.8 million). Elements Cloud revenue grew by 9 % to EUR 20.7 million (EUR 19.0 million). Despite the slightly disappointing revenue growth, profitability of both Elements Company segment and WithSecure Group was positive at the Adjusted EBITDA level. Cloud Protection for Salesforce business returned to the growth track, with ARR growth of 38 %.

    In the Elements Company, Elements software continued to perform with good year-on-year growth. In the DACH (Germany, Austria, Switzerland) region, the revenue growth slowed down slightly, mostly due to the weakness of the German economy. In other European regions and Japan, the revenue and ARR growth continued. In Managed services, some large customers churned during third quarter. This development was affected by our increasing focus on selling managed services to mid-market customers through the Elements platform. However, despite the increase in the number of customers, revenue did not fully compensate for the churned accounts. Of the geographic regions, mostly the UK and the US have been impacted by the Managed services development.

    Exposure Management, introduced in SPHERE’24 reached General Availability during the third quarter. The customer demand for the newest module of Elements has remained high. Also, our AI assistant Luminen became available for all Elements customers in the third quarter.

    Elements Company Adjusted EBITDA was EUR 2.0 million (EUR -0.5 million), as a result of the cost savings of 2023 and continuous efficiency measures.

    In Cloud Protection for Salesforce (CPSF), focused efforts on improving sales efficiency resulted in breaking through the 10 million ARR threshold. ARR grew by 38 % to EUR 10.2 million (EUR 7.4 million). Revenue grew by 20 % to EUR 2.4 million (EUR 2.0 million). We continue to develop CPSF as an independent business in WithSecure. Profitability of the CPSF is moving towards break-even with the improving revenue.

    Cyber security consulting revenue was slightly below previous year’s level and was EUR 7.5 million (EUR 7.7 million). In some key accounts, we saw financial constraints in the third quarter. In the long term, we continue to see solid demand for cyber security consulting service. As announced on 31 October 2023, the Cyber security consulting business is under strategic review. We are in active discussions regarding divestment of the business, but no decision has been taken so far.

    Due to the gaps between actual and expected revenue, we lowered the financial outlook for 2024. For the changes in consulting revenue estimates and increased equity market risk, we recorded an impairment of the consulting-related goodwill of EUR 15.5 million in the third quarter.

    At the end of September, WithSecure’s headquarters moved to the new premises in Wood City, Helsinki. This is part of our plan of creating dynamic and collaborative workplaces, to welcome our employees and visitors and to foster well-being and creativity.

    Financial performance

    (mEUR) 7-9/2024 7-9/2023 Change % 1-9/2024 1-9/2023 Change % 1-12/2023
    Revenue 36.1 34.8 4% 109.2 104.8 4% 142.8
    Gross Margin 26.2 24.2 9% 78.4 72.6 8% 100.2
    % of revenue 72.6 % 69.5 %   71.8 % 69.3 %   70.2 %
    Other operating income1 0.7 0.2 227% 1.6 1.0 53% 1.4
    Operating expenses1 -25.0 -26.6 6% -79.2 -90.0 12% -117.7
    Sales & Marketing -13.7 -15.2 10% -42.9 -52.4 18% -68.1
    Research & Development -8.4 -8.2 3% -26.5 -27.6 4% -36.3
    Administration -3.0 -3.3 10% -9.8 -10.0 2% -13.3
    Adjusted EBITDA2 1.9 -2.3 182% 0.7 -16.3 -104% -16.1
    % of revenue 5.2 % -6.5 %   0.7 % -15.6 %   -11.3 %
    Items affecting comparability (IAC)              
    Other items -0.6 -0.1 -468% -1.6 -0.4 -301% -1.4
    Restructuring -0.4 -0.1 -303% -0.4 -4.4 90% -8.9
    Divestments 0.6     1.2 1.4 -15% 1.4
    EBITDA 1.5 -2.5 -160% -0.1 -19.7 99% -25.1
    % of revenue 4.1 % -7.1 %   -0.1 % -18.8 %   -17.6 %
    Depreciation & amortization, excluding PPA3 -2.6 -2.5 -5% -7.4 -7.6 2% -10.2
    Impairment -15.5 -6.2 -150% -15.5 -6.2 -150% -6.2
    PPA amortization -0.5 -0.6 15% -1.7 -1.8 4% -2.4
    EBIT -17.2 -11.8 46% -24.8 -35.3 30% -43.9
    % of revenue -47.5 % -33.8 %   -22.7 % -33.7 %   -30.7 %
    Adjusted EBIT2 -0.8 -4.8 84% -6.7 -23.9 72% -26.3
    % of revenue -2.1 % -13.7 %   -6.1 % -22.8 %   -18.4 %
    1. Excluding Items Affecting Comparability (IAC) and depreciation and amortization. In 2023 excludes also costs of services provided to F-Secure under TSA and equivalent income charged for TSA services. 
    2. Adjustments are material items outside the normal course of business associated with acquisitions, integration, restructuring, gains or losses from sales of businesses and other items affecting comparability. For reconciliation and a breakdown of adjusted costs, see Note 6 (Reconciliation of alternative performance measures)
    3. Amortization of intangible assets from business combinations (PPA, purchase price allocation, related amortizations). 
    (mEUR) 7-9/2024 7-9/2023 Change % 1-9/2024 1-9/2023 Change % 1-12/2023
    Earnings per share, (EUR)1 -0.10 -0.06 -69% -0.13 -0.16 18% -0.23
    Deferred revenue       65.7 65.7 0% 66.9
    Cash flow from operations before financial items and taxes -0.6 -9.0 94% -5.7 -22.5 75% -19.9
    Cash and cash equivalents       21.6 30.0 -28% 36.6
    ROI, % -60.8 % -33.3 % -82% -27.1 % -30.9 % 12% -30.5 %
    Equity ratio, %       66.6 % 79.1 % -16% 73.3 %
    Gearing, %       4.0 % -18.3 % -122% -22.2 %
    Personnel, end of period       983 1,147 -14% 1,087
    1. Based on the weighted average number of outstanding shares during the period 175,976,169 (1-9/2024). Earnings per share has been recalculated for comparative periods using average weighted share amount after share issues.

    Events after period-end
    No material changes regarding the company’s business or financial position have taken place after the end of the quarter.

    Additional information
    This is a summary of WithSecure’s interim report 1 January – 30 September 2024. The full report is a PDF file attached to this stock exchange release. Full report is also available on the company website.

    Webcast
    WithSecure’s CEO Antti Koskela and CFO Tom Jansson will present the results in a webcast on 23 October starting at 14.00 EEST. The webcast will be held in English and can be accessed at

    https://withsecure.videosync.fi/q3-2024

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

    Materials | Investor Relations | WithSecure™

    Financial calendar
    WithSecure will publish its financial information dates of 2025 later in the fourth quarter of 2024. WithSecure observes at least a three-week (21 days) silent period prior to publication of financial reports, during which it refrains from engaging in discussions with capital market representatives or the media regarding WithSecure’s financial position or the factors affecting it.

    Contact information

    Tom Jansson, CFO
    WithSecure Corporation

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

    Attachment

    The MIL Network –

  • MIL-OSI: Sampo plc’s share buybacks 22 October 2024

    Source: GlobeNewswire (MIL-OSI)

    Sampo plc, stock exchange release, 23 October 2024 at 8:30 am EEST

    Sampo plc’s share buybacks 22 October 2024

    On 22 October 2024, Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI4000552500) as follows:                

    Sampo plc’s share buybacks Aggregated daily volume (in number of shares) Daily weighted average price of the purchased shares* Market (MIC Code)
      5,548 41.04 AQEU        
      42,058 41.04 CEUX
      1,009 41.02 TQEX
      43,104 41.05 XHEL
    TOTAL 91,719 41.05  

    *rounded to two decimals                

    On 17 June 2024, Sampo announced a share buyback programme of up to a maximum of EUR 400 million in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. On 16 September 2024, the Board of Directors of Sampo plc resolved to increase the share buyback programme to EUR 475 million. The programme, which started on 18 June 2024, is based on the authorisation granted by Sampo’s Annual General Meeting on 25 April 2024.

    After the disclosed transactions, the company owns in total 9,134,466 Sampo A shares representing 1.66 per cent of the total number of shares in Sampo plc, taking the issuance of shares on 16 September 2024 into account.

    Details of each transaction are included as an appendix of this announcement.

    On behalf of Sampo plc,
    Morgan Stanley

    For further information, please contact:

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

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

    Attachment

    The MIL Network –

  • MIL-OSI: Production report for August and September 2024

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 23 October 2024

             August 2024 September 2024
    Operated Boepd (1) Bopd (2) Boepd (1) Bopd (2)
    Colombia 502 292 480 274
    Argentina 723 34 1,602 218
    Total operated 1,225 326 2,082 492
    Total equity 645 206 1,014 276

    (1)   Barrels of oil equivalents per day (includes liquid and gas)
    (2)   Barrels of oil per day (represents only liquids)
    [boepd]: barrels of oil equivalents per day (includes liquid and gas)
    [Operated]: 100% field production operated by Interoil
    [Equity]        : Interoil’s share production net of royalties.

    Comments

    Interoil’s daily average total operated production in September ended at 2,082 boepd, showing a significant improvement from August (+857 boepd). This increase was primarily due to the recovery of Argentina’s production, which had been affected by severe winter conditions. In Colombia, production decreased slightly by 22 boepd, while in Argentina, production surged by 879 boepd.

    In Argentina, production in August was severely impacted by winter weather, which obstructed roads and prevented movement, leading to the shut-in of a significant portion of production. With the arrival of spring, field personnel were able to return to operational duties, resulting in production returning to pre-winter levels in September. The company continues efforts to sustain and further increase production in the current month.

    In Colombia, production at Puli C decreased in September, primarily from the Mana field, while Vikingo-1 remained out of production. The workover rig has been delayed due to a pending oversized load permit from local road transit authorities. The replacement of the downhole production system in Vikingo began in October, and the work program is expected to last 10-15 days, assuming no further delays.

    Additional information

    Further details about production performance are shown in the attached document. The graphs and tables illustrate both operated and equity production of oil and gas by country. “Operated production” refers to the total output from fields operated by Interoil, while “Equity production” refers to Interoil’s share of production, net of royalties.

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

    ***************************

    Please direct any further questions to ir@interoil.no

    Interoil Exploration and Production ASA is a Norwegian based exploration and production company – listed on the Oslo Stock Exchange with focus on Latin America. The Company is operator and license holder of several production and exploration assets in Colombia and Argentina with headquarter in Oslo.

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

    Attachment

    The MIL Network –

  • MIL-OSI Asia-Pac: Kowloon City youth hostel approved

    Source: Hong Kong Information Services

    The Home & Youth Affairs Bureau today approved a youth hostel project located in the Regal Oriental Hotel in Kowloon City, with a total of 80 rooms that will provide up to 160 hostel places.

    Named YOT Hub, the project is the fifth one under the Subsidy Scheme for Using Hotels & Guesthouses as Youth Hostels. 

    The project will be launched by the Yan Oi Tong company and the Regal Hotels Group.

    One of the features of the project is to help youth tenants enrich their understanding of the national development opportunities through trainings, and exchange and internship programmes.

    It will also provide young people with self-enhancement and support services in different aspects, such as financial management courses, career development workshops and mental health seminars.

    In addition, Yan Oi Tong will form a youth service team and invite young people to collaborate in organising community activities.

    It also plans to arrange volunteer services regularly to encourage young people to contribute to the community and establish their sense of belonging to society and responsibility.

    The bureau said YOT Hub is well connected by public transport with comprehensive community facilities in the vicinity.

    It added that the project not only provides young people with a comfortable living environment but also enables them to broaden their horizons and achieve their personal development goals through various self-enhancement activities. 

    The bureau expressed that it is delighted that the subsidy scheme continues to gain support from hotel and guesthouse operators to provide youth with an enabling environment and hope for the future.

    It added that it intends to continue to collaborate with relevant stakeholders who share its vision to take forward youth hostel projects.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: 2024-25 judicial service pay adjustment

    Source: Hong Kong Government special administrative region

    2024-25 judicial service pay adjustment
    2024-25 judicial service pay adjustment
    ***************************************

         On the recommendation of the Standing Committee on Judicial Salaries and Conditions of Service (Judicial Committee) chaired by Dr Clement Chen, the Chief Executive in Council has decided that the pay for Judges and Judicial Officers (JJOs) for 2024-25 should be increased by 3 per cent. The pay adjustment will take retrospective effect from April 1, 2024.     ​     A Government spokesman today (October 23) said, “In coming up with its recommendation on judicial pay for 2024-25, the Judicial Committee premised its deliberations on the need to uphold the principle of judicial independence; and adopted a balanced approach taking into account a basket of factors as approved by the Chief Executive in Council in May 2008 and the position of the Judiciary. The basket of factors includes:(a) responsibility, working conditions and workload of judges vis-à-vis those of lawyers in private practice;(b) recruitment and retention in the Judiciary;(c) retirement age and retirement benefits of JJOs;(d) benefits and allowances enjoyed by JJOs;(e) unique features of the judicial service such as security of tenure, the prestigious status and high esteem of the judicial offices;(f) prohibition against return to private practice in Hong Kong;(g) overseas remuneration arrangements;(h) cost of living adjustments;(i) general economic situation in Hong Kong;(j) budgetary situation of the Government;(k) private sector pay levels and trends; and(l) public sector pay as a reference.”     A copy of the Report on Judicial Remuneration Review 2024 submitted by the Judicial Committee to the Chief Executive on August 21, 2024, is available on the website of the Joint Secretariat for the Advisory Bodies on Civil Service and Judicial Salaries and Conditions of Service (www.jsscs.gov.hk/en/publications/reports_jscs.htm).     ​     The Government will seek the approval of the Finance Committee of the Legislative Council on the proposed pay adjustment.

     
    Ends/Wednesday, October 23, 2024Issued at HKT 14:00

    NNNN

    MIL OSI Asia Pacific News –