Category: Business

MIL-OSI Europe: October results of the Bank Lending Survey (BLS) in Germany | Credit standards for firms not tightened further

Source: Deutsche Bundesbank in English

For the first time in nearly three years, the German banks responding to the Bank Lending Survey (BLS) did not tighten their credit standards for loans to enterprises further in the third quarter of 2024, but eased them marginally instead. On the other hand, they once again tightened their credit standards for loans to households for house purchase and for consumer credit and other lending to households For the fourth quarter, banks are planning to tighten their credit standards for loans to enterprises again, partly owing to pessimistic market and economic expectations.
The surveyed banks, did not, on balance, change credit terms and conditions for loans to enterprises. Terms and conditions were eased for loans to households for house purchase and tightened for consumer credit and other lending to households.
Demand for loans increased in all three loan categories. As expected by banks, the resurgence of demand for loans to enterprises that started in the previous quarter continued. The increase in demand for loans to households exceeded the previous quarter’s expectations.
The ECB Governing Council’s past and expected key interest rate decisions had a positive impact on net interest income, thereby contributing to an improvement in banks’ profitability in the 2024 summer half-year. For the winter half-year 2024-25, banks are expecting the key interest rate decisions to have a negative impact on their net interest income as well as on their profitability.
The BLS covers three loan categories: loans to enterprises, loans to households for house purchase, and consumer credit and other lending to households. For the first time in nearly three years, the surveyed banks did not tighten their credit standards (i.e. their internal guidelines or loan approval criteria) for loans to enterprises further, but eased them marginally. By contrast, they tightened their standards for loans to households again. The net percentage of banks that adjusted their requirements was −3% for loans to enterprises (compared with +3% in the previous quarter), +7% for loans for house purchase (compared with +7% in the previous quarter), and +15% for consumer credit and other lending to households (compared with +7% in the previous quarter). In the previous quarter, banks had planned to tighten their standards marginally for loans to enterprises. By contrast, the adjustments in loans to households for house purchase were broadly consistent with what had been planned in the previous quarter; standards for consumer credit and other lending to households were tightened more strongly than planned.
The recent marginal easing of credit standards for loans to enterprises took place against the backdrop of many and varied low-impact factors – an indication of banks’ uncertain assessments of the general situation. While banks indicated that the general economic situation and the economic outlook were having a restrictive impact on all loan categories, only loans to households have been subject to a tightening of credit standards thus far.

The banks cited their perception of increased credit risk as the key factor behind the tightening of credit standards for loans to households, attributing this to households’ lower creditworthiness. For the fourth quarter of 2024, banks are planning to tighten credit standards for loans to enterprises and consumer credit and other lending to households, but are not planning to adjust the standards for loans to households for house purchase.
Although, on aggregate, banks made hardly any changes in the third quarter to their credit terms and conditions (i.e. the terms and conditions actually approved as laid down in the loan contract) for loans to enterprises, this conceals lower lending rates on the one hand and an increase in margins on riskier loans on the other. Terms and conditions for loans to households for house purchase were eased, on the whole. The expansionary adjustments are the outcome of reduced lending rates and lower margins irrespective of credit ratings. As regards consumer credit and other lending to households, meanwhile, limits on loan amounts and increased margins irrespective of credit ratings were the main reasons for the tightened credit terms and conditions overall.
Demand for bank loans in Germany rose on balance in all loan categories in the third quarter of 2024. The pick-up in demand for loans to enterprises that had begun in the previous quarter continued. This was consistent with banks’ expectations in the previous quarter. Banks saw the decline in the general level of interest rates as the main reason for the increase in demand. For the first time in around two years, this factor no longer dampened, but rather supported, firms’ demand for loans. In addition, funding needs for debt refinancing, restructuring and renegotiation increased. After a second quarter in which fixed investment had been the main driver of overall demand growth, only small and medium-sized enterprises demanded marginally more lending for this purpose in the third quarter. The “inventories and working capital” factor, which had also contributed significantly to the increase in demand in the previous quarter, had an overall slightly dampening effect on demand in the third quarter, as large firms had less need for loans for this purpose. A reduction in internal financing options pushed demand slightly upwards.

According to banks, households increased their demand for loans for house purchase mainly because they took a more positive view of the housing market outlook. In addition, the general interest rate level once again pushed up demand. Banks believe that demand for consumer credit and other loans to households increased since more durable consumer goods were being purchased and consumer confidence was on the rise. The rejection rate rose for loans to enterprises and consumer credit and other lending to households, whereas it fell for the second time in a row for loans to households for house purchase. For the next three months, the surveyed banks are expecting to see demand increase further across all three loan categories.
The October survey round contained ad hoc questions on participating banks’ financing conditions and the impact of the ECB Governing Council’s past and expected key interest rate decisions. It also included questions on the impact of the Eurosystem’s monetary policy asset portfolios and on the third series of targeted longer-term refinancing operations (TLTRO III).
Against the backdrop of conditions in financial markets, German banks reported that their funding situation had improved somewhat compared with the previous quarter. The ECB Governing Council’s past and expected future key interest rate decisions have had, overall, a positive impact on banks’ profitability over the past six months. However, following the two interest rate cuts in June and September of this year, fewer banks reported a positive impact than in previous surveys. Banks continued to attribute the positive impact to an increase in net interest income. For the 2024-25 winter half-year, banks are expecting the key interest rate decisions to have a negative impact on their net interest income as well as on their profitability. The reduction in the Eurosystem’s monetary policy securities holdings, taken in isolation, had a positive impact on profitability, as it contributed to an increase in net interest income. German banks assessed the impact on their capital ratios, too, as positive.
Over the past six months, TLTRO III has had hardly any impact on the financial situation of banks in Germany. Only in terms of profitability did banks continue to report a positive impact. For the first time, TLTRO III no longer had any impact on the liquidity position of banks in Germany. As the deadline for repaying borrowed funds in full is December 2024, banks are not expecting TLTRO III to have any further impact on their financial situation over the next six months.
The Bank Lending Survey, which is conducted four times a year, took place between 6 September and 23 September 2024. In Germany, 33 banks took part in the survey. The response rate was 97%.

MIL OSI

MIL OSI Europe News –

January 23, 2025
MIL-OSI Global: South Africa’s unity government won’t dent poverty and inequality if it follows the same old policies – sociologist
Source: The Conversation – Africa – By Roger Southall, Professor of Sociology, University of the Witwatersrand

A recent poll by the Social Research Foundation, a think thank, found that 60% of South Africans thought the government of national unity was working well. It also reported that support for the unity government’s anchor political parties, the African National Congress (ANC) and the Democratic Alliance (DA), had risen since 29 May 2024 when elections were held.

The poll results came out at the same time as the business press was reporting increased collaboration between business and government, fostered by the unity government. Corporations have reportedly pledged up to R250 million (about US$14.3 million to assist the state to address various logistics crises and help the National Prosecuting Authority prosecute corruption.

Although we should be cautious about taking such news at face value, it is worth noting that the arrival of the unity government has been accompanied by other good news. For example:
- take-home pay for those in employment has begun to rise
- retail sales and household assets have begun to increase
- inflation has fallen, allowing the Reserve Bank to cut interest rates
- the Johannesburg Stock Exchange is trading at record highs.
This adds up to new shoots which suggest a better harvest to come.

Read more:
South Africa has a huge gap between the rich and poor – 4 urgent reasons to tackle inequality

Still, it is wise not to get too excited unless any upturn in the economy benefits the majority of South Africans. As Frans Cronje, director of the Social Research Foundation, has observed, while the unity government may be good for the middle class, there is no sign yet that it is addressing the needs of the poor and the people on the periphery of the economy.

Unless its benefits become socially inclusive, it might well collapse. We need to take Cronje’s reservations seriously. Note, however, that although the unity government is a coalition, it is led by the African National Congress. And, while all parties agree that they need to put the economy back on track and promote growth, there is little evidence yet that the government is pursuing distinctively new policies.

Beware complacency

We are often told that “a rising tide lifts all boats”.

But this claim owes more to ideology than careful analysis of economic data. In any case, it is a catchphrase which condones inequality. It suggests that as long as living standards increase for the poor, it does not matter if the wealthy gain even more. Indeed, one version is that the more the well-off benefit, the more likely they are to spend and invest their money – that is, to create wealth for others.

Such complacency is dangerous. Apart from being contentious economically, it poses risks to both democracy and political stability. This is particularly the case in South Africa, which is widely recognised as the most unequal country in the world.
- High rates of inequality erode social cohesion and trust in democracy. In the May general election, the lowest level of voter turnout since 1994 reflected a worrying decline in support for democracy: from 72% in 2011 to just 43% by 2023.
- Extremes of inequality are unlikely to lead to the formation of governing coalitions committed to pursuing developmental strategies of benefit to all. As a result, populist parties that tout simplistic solutions may find it easier to win support. As suggested by the unheralded performance of Jacob Zuma’s umKhonto we Sizwe Party in the 2024 election, this is a particular danger in South Africa. Here, the poorer black majority possess potential political power in an economy which remains largely controlled and owned by a richer, white minority. The French economist Thomas Piketty in his latest blockbuster, Capital and Ideology, warns that in such situations, the dangers of a lurch towards authoritarianism are much increased.
Read more:
South Africa’s unity government could see a continuation of the ANC’s political dominance – and hurt the DA
- As shown by calls by Julius Malema’s Economic Freedom Fighters for nationalisation of the South African Reserve Bank and for the constitution to allow expropriation of land without compensation, extremes of inequality encourage challenges to property rights. These are likely to discourage investment. Highly unequal economies typically display lower rates of growth than those that are less unequal.
- Highly unequal countries typically suffer higher levels of stress, crime and violence, often resulting in violent responses by the state against marginalised communities to quell protests.
Little prospect of reduction of inequality

The issue is not whether the unity government is blind to these dangers, but whether the policies it is pursuing are likely to make a dent in the staggering level of inequality.

If investment and growth do occur, there will be good news down the line – possibly the creation of some 2 million jobs and more financial room for the government to fund social benefits for the poor. But it’s unlikely to have a marked effect on the level of inequality.

First, the unity government is not promising any great change from policies that have been pursued since 1994, only more efficient implementation. Those policies have somewhat decreased racial disparities, notably by promoting a black middle class, but they have not reduced the overall level of inequality. Indeed, as Piketty shows, this has increased, not decreased, since 1994.

Second, the unity government’s policies may continue to focus on the reduction of poverty. But this is unlikely to shift the proportions of income between the different classes. As Cronje has hinted, the new government is underpinned by a middle-class coalition, and for this to hang together, the middle class will want to reap its reward.

Read more:
South Africa’s new unity government must draw on the country’s greatest asset: its constitution

Third, history doesn’t offer much hope. Former settler colonies stand out for their exceptionally high levels of inequality. In South Africa, white people always dominated the top earners before 1994. Now they have been joined by high-earning black people, many of them public officials. The top decile’s share of total earning has increased since the end of apartheid. Today it is close to 70%, compared with around 35% in Europe.

Fourth, we live in an age which Piketty describes as “hyper-capitalism”, in which money and ultra-rich elites are highly mobile. This makes it hard for national governments to tax the rich more. They can leave, or threaten to withdraw their investments to earn higher returns elsewhere. South Africa has already been leaking its millionaires. The unity government will not want to scare any more of them away. So, it’s unlikely to adopt aggressive tax policies in the cause of narrowing inequality.

The unity government may well promote high growth and if successful, may ameliorate poverty, but it seems unlikely that it will either attempt or succeed in reducing inequality. It may be good for the elite and middle class, but not necessarily for the health of democracy.

Roger Southall 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. South Africa’s unity government won’t dent poverty and inequality if it follows the same old policies – sociologist – https://theconversation.com/south-africas-unity-government-wont-dent-poverty-and-inequality-if-it-follows-the-same-old-policies-sociologist-240697
MIL OSI – Global Reports –
January 23, 2025

MIL-OSI Russia: Financial news: The deposit auction of the Moscow Small Business Lending Assistance Fund will take place on 15.10.2024

MILES AXLE Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

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://www.moex.com/n73981

Category24-7, MIL-AXIS, Moscow, Moskov Stotsk Exchange, Russians Savings, Russian Federation, Russians Language, Russian economy

Previous PostPrevious Financial news: On 15.10.2024, the deposit auction of the Moscow Small Business Lending Assistance Fund will take place(2)
Next PostNext SPbGASU to create a “single window” for student families

Archives Privations of the Police Proudly would trust WordPress

Date of the deposit auction	10/15/2024
Placement currency	RUB
Maximum amount of funds placed (in placement currency)	200,000,000.00
Placement period, days	97
Date of deposit	10/15/2024
Refund date	01/20/2025
Minimum placement interest rate, % per annum	21.00
Conditions of imprisonment, urgent or special	Urgent
Minimum amount of funds placed for one application (in placement currency)	200,000,000.00
Maximum number of applications from one Participant, pcs.	1
Auction form, open or closed	Open
Basis of the Treaty	General Agreement

Schedule (Moscow time)
Preliminary applications	from 11:00 to 11:10
Applications in competition mode	from 11:10 to 11:15
Setting a cut-off percentage or declaring the auction invalid	until 11:25

Additional terms	Placement of funds with the possibility of early withdrawal of the entire deposit amount and payment of interest accrued on the deposit amount at the rate established by the deposit transaction, in the event of non-compliance of the Bank with the requirements established by clause 2.1. of the Regulation “On the procedure for selecting banks for placing funds of the Moscow Small Business Lending Assistance Fund in deposits (deposits) under the GDS” (as amended on the date of the deposit transaction), early withdrawal at the “on demand” rate, interest payment monthly, on the last business day of the month, without replenishment

MIL OSI Russia News –

January 23, 2025

MIL-OSI Russia: Financial news: On 15.10.2024, the deposit auction of the Moscow Small Business Lending Assistance Fund will take place(2)

MILES AXLE Translation. Region: Russian Federation –

Source: Moscow Exchange – Moscow Exchange –

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://www.moex.com/n73983

Category24-7, MIL-AXIS, Moscow, Moskov Stotsk Exchange, Russians Savings, Russian Federation, Russians Language, Russian economy

Previous PostPrevious Buyers of the Moscow-on-the-Wave fish markets can use the bonus points of the Million Prizes program
Next PostNext Financial news: The deposit auction of the Moscow Small Business Lending Assistance Fund will take place on 10/15/2024

Archives Privations of the Police Proudly would trust WordPress

Parameters
Date of the deposit auction	10/15/2024
Placement currency	RUB
Maximum amount of funds placed (in placement currency)	45,000,000.00
Placement period, days	10
Date of deposit	10/15/2024
Refund date	10/25/2024
Minimum placement interest rate, % per annum	19.60
Conditions of imprisonment, urgent or special	Urgent
Minimum amount of funds placed for one application (in placement currency)	45,000,000.00
Maximum number of applications from one Participant, pcs.	1
Auction form, open or closed	Open
Basis of the Treaty	General Agreement

Schedule (Moscow time)
Preliminary applications	from 12:30 to 12:40
Applications in competition mode	from 12:40 to 12:45
Setting a cut-off percentage or declaring the auction invalid	until 12:55

Additional terms	Placement of funds with the possibility of early withdrawal of the entire deposit amount and payment of interest accrued on the deposit amount at the rate established by the deposit transaction, in the event of non-compliance of the Bank with the requirements established by clause 2.1. of the Regulation “On the procedure for selecting banks for placing funds of the Moscow Small Business Lending Assistance Fund in deposits (deposits) under the GDS” (as amended on the date of the deposit transaction), early withdrawal at the “on demand” rate, payment of interest at the end of the term, without replenishment

MIL OSI Russia News –

January 23, 2025

MIL-OSI Economics: Asian Development Blog: Five Sustainable Solutions to Drive Armenia’s Crossroads of Peace Initiative

Source: Asia Development Bank

Armenia’s Crossroads of Peace initiative offers a vision of peace and stability through improved infrastructure and trade. It is also a great opportunity to build sustainable infrastructure, improve customs clearance, and promote green trade. Key reforms in road safety and foreign direct investment are essential for long-term success, positioning Armenia as a strategic hub for regional trade.

Armenia, located in the South Caucasus between Europe and Asia, holds a strategic geographic position as a natural crossroads for east-west and north-south trade routes.

Despite closed borders with neighbors to the east and west, Armenia has outlined a vision of open borders through its “Crossroads of Peace” initiative.

Supported by investments in road, rail, and border checkpoints, the initiative envisions economic ties and peaceful relations with all neighbors. While improved rail networks and modern roads are a key focus, the initiative must address several factors to ensure long-term success:

Make the infrastructure sustainable. The infrastructure investments under the initiative represent a remarkable opportunity to incorporate sustainable infrastructure. Doing so would set a standard for future developments in Armenia and position the country as an early adopter of sustainable infrastructure in the region.

This can be done through implementing green building standards in the roads, bridges, and related infrastructure, through the use of sustainable, recycled, or low-carbon materials along with enforcing emissions standards for equipment used in construction and maintenance.

LED streetlights, which last longer and reduce energy consumption, could be used. Border points can be built or refurbished to meet energy efficient standards and equipped with power supplied from renewable sources.

These interventions would limit the carbon footprint of the Crossroads initiative while, in the long run, reducing the overall costs for its implementation.

Streamline customs clearance processes. Freight typically follows the least time-consuming and cost-efficient way. While better roads and rail networks are attractive for transit trade, customs processes need to be streamlined to truly deliver on the desired objective.

Digitization is the backbone of modern logistics. For customs processes, it reduces paperwork, corruption, and can drastically cut border wait times. Armenia’s adoption of the Electronic International Road Transport system is a needed advancement that would immediately improve customs clearance efficiency.

As Armenia’s neighbors have adopted the system as well, its geographic position along with digitally integrated customs procedures would make it the natural choice for freight movement. And with much of the legal framework agreed and a gap analysis already prepared by the United Nations Economic Commission for Europe, this would seem to be low-hanging fruit on the list to improve logistics and promote regional trade.

Armenia is at a critical point in its development trajectory and the Crossroads initiative could be the mechanism to propel it into a regional hub for trade and logistics.

Promote Green Trade. The Crossroads initiative could be an enabler for Armenia to become an advocate for green trade to yield benefits to future generations.

This could be achieved through developing green logistics frameworks that incentivize low-emission transportation assets and eco-friendly packaging for goods.

Local campaigns to raise awareness of the benefits of green products and sustainable consumption can help instill these practices in Armenia, while eco-friendly labels on products can help consumers make smart choices when purchasing goods and services.

Armenia has already renewed its commitment to the Paris Agreement and the government has demonstrated it takes the climate agenda seriously. Promoting green trade will be another mark on the road to greater sustainability, competitiveness, export diversification, and generally improved value addition.

Become an enabling environment for foreign direct investment. With open borders the Crossroads initiative can attract greater foreign direct investment, which would have sweeping benefits including job creation, greater productivity, increased government revenue, human capital development, and general technological advancements.

The regional stability offered by the initiative could be the trigger that entices foreign investors to consider Armenia as a new frontier for opportunity.

Armenia has shown steady improvements in attracting new businesses, suggesting its legal and regulatory frameworks have become more attractive to foreign investors. However, Armenia faces stiff regional competition in the South Caucasus from Georgia and will need to accelerate these reforms to redirect investment in the region.

The creation of more special economic zones is an important lever for the government to attract investment. Given the integral nature of transport and logistics to the initiative, more zones designed to support better logistics and simplified trade would be a meaningful step to attract the right firms and needed capacity to execute on the increased demand the Crossroads will bring to the region.

Create a culture of road safety. With significant investments in road infrastructure, the Crossroads initiative will offer drivers smoother and faster road surfaces. However, without stronger measures to promote a culture of road safety and enforced safety laws, improved conditions could lead to an increase in accidents.

Armenia has taken positive steps enacting legislation that requires seat belts and motorcycle helmets, yet on the road it is common to see drivers without either. The legislation also does not specify restraints for child safety and children are allowed to be seated in the front, both drastically increasing the chances of injury or death in case of accident.

A coordinated countrywide awareness-raising campaign on the benefits of seat belts, helmets, and child restraints is necessary, along with legislative actions to identify standards and improve enforcement.

Armenia is at a critical point in its development trajectory and the Crossroads initiative could be the mechanism to propel it into a regional hub for trade and logistics. However, it should not only be framed around building roads, rail, and bridges. It should also deliver on its broader ambitions and create lasting benefits for society.

MIL OSI Economics –

January 23, 2025

MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – INTERNATIONAL DISTRIBUTIONS – Ordinary Shares

Source: GlobeNewswire (MIL-OSI)

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

KEY INFORMATION

(a)

Full name of discloser:

Dimensional Fund Advisors Ltd. in its capacity as investment advisor and on behalf its affiliates who are also investment advisors (”Dimensional”). Dimensional expressly disclaims beneficial ownership of the shares described in this form 8.3.

(b)

Owner or controller of interests and short positions disclosed, if different from 1(a):
The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.

(c)

Name of offeror/offeree in relation to whose relevant securities this form relates:
Use a separate form for each offeror/offeree

International Distribution Services PLC

(d)

If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:

(e)

Date position held/dealing undertaken:
For an opening position disclosure, state the latest practicable date prior to the disclosure

14 October 2024

(f)

In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
If it is a cash offer or possible cash offer, state “N/A”

N/a

POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a)

Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:

1p ordinary (GB00BDVZYZ77)

Interests

Short Positions

Number

(1)

Relevant securities owned and/or controlled:

22,210,999

2.32 %

(2)

Cash-settled derivatives:

(3)

Stock-settled derivatives (including options) and agreements to purchase/sell:

Total

22,210,999 *

2.32 %

* Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 128,333 shares that are included in the total above.

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b)

Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:

Details, including nature of the rights concerned and relevant percentages:

DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a)

Purchases and sales

Class of relevant security

Purchase/sale

Number of securities

Price per unit

1p ordinary (GB00BDVZYZ77)

Purchase

3,520

3.4220 GBP

There was a Transfer In of 203,756 shares of 1p ordinary

(b)

Cash-settled derivative transactions

Class of relevant security

Product description e.g. CFD

Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position

Number of reference securities

Price per unit

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(ii)

Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant security

Nature of dealing e.g. subscription, conversion

Details

Price per unit (if applicable)

OTHER INFORMATION

(a)

Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

None

(b)

Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state “none”

None

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

Date of disclosure

15 October 2024

Contact name

Thomas Hone

Telephone number

+44 20 3033 3419

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.

The MIL Network –

January 23, 2025

MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – HARGREAVES LANSDOWN PLC – Ordinary Shares

Source: GlobeNewswire (MIL-OSI)

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

KEY INFORMATION

(a)

Full name of discloser:

(b)

(c)

Name of offeror/offeree in relation to whose relevant securities this form relates:
Use a separate form for each offeror/offeree

Hargreaves Lansdown PLC

(d)

If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:

(e)

Date position held/dealing undertaken:
For an opening position disclosure, state the latest practicable date prior to the disclosure

14 October 2024

(f)

In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
If it is a cash offer or possible cash offer, state “N/A”

N/a

POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a)

Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:

0.4p ordinary (GB00B1VZ0M25)

Interests

Short Positions

Number

(1)

Relevant securities owned and/or controlled:

5,901,303

1.24 %

(2)

Cash-settled derivatives:

(3)

Stock-settled derivatives (including options) and agreements to purchase/sell:

Total

5,901,303 *

1.24 %

* Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 183,277 shares that are included in the total above.

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b)

Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:

Details, including nature of the rights concerned and relevant percentages:

DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

The currency of all prices and other monetary amounts should be stated.

(a)

Purchases and sales

Class of relevant security

Purchase/sale

Number of securities

Price per unit

0.4p ordinary (GB00B1VZ0M25)

Purchase

1,580

10.8600 GBP

There was a Transfer In of 23,577 shares of 0.4p ordinary

(b)

Cash-settled derivative transactions

Class of relevant security

Product description e.g. CFD

Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position

Number of reference securities

Price per unit

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(ii)

Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant security

Nature of dealing e.g. subscription, conversion

Details

Price per unit (if applicable)

OTHER INFORMATION

(a)

Indemnity and other dealing arrangements

None

(b)

Agreements, arrangements or understandings relating to options or derivatives

None

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

Date of disclosure

15 October 2024

Contact name

Thomas Hone

Telephone number

+44 20 3033 3419

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.

The MIL Network –

January 23, 2025

MIL-OSI: Intelligence Community Veteran Michael Widener Joins Synergy ECP Board of Advisors

Source: GlobeNewswire (MIL-OSI)

COLUMBIA, Md., Oct. 15, 2024 (GLOBE NEWSWIRE) — Synergy ECP, a leading provider of mission critical, highly technical solutions for the Defense and Intelligence Communities, is excited to announce the appointment of Michael Widener to its Board of Advisors. Synergy ECP is a portfolio company of Falfurrias Management Partners.

Michael Widener, a former Senior Intelligence Service executive at the Central Intelligence Agency and four-time Chief of Station/Base, brings decades of experience to Synergy ECP’s Board of Advisors through his leadership of historically large and complex CIA programs in Africa, Europe, the Middle East, and Southeast Asia. Michael also led CIA efforts related to understanding the impact of advanced computing, microelectronics, next-generation communications, and other emerging technologies on US national security by harnessing expertise from the US private sector and worldwide venture capital ecosystem to deliver new capabilities into the Intelligence Community.

“We are honored to welcome Michael Widener to our Board of Advisors,” said Bruce Howard, CEO of Synergy ECP. “Michael’s extensive experience at the intersection of emerging technologies, the private sector, and policymakers will support Synergy ECP’s efforts as we deliver technical solutions in areas such as signals intelligence, cyber operations, critical infrastructure resiliency, zero trust methodologies, and next generation 5G capabilities. Additionally, his mission understanding, developed through years of leading human intelligence and covert action programs, will ensure Synergy ECP stays on the leading edge of emerging technical requirements within our intelligence community.”

“I am honored to join the Board of Advisors at Synergy ECP,” said Mr. Widener. “Our Intelligence Community faces significant challenges in understanding the national security implications of emerging technology areas such as artificial intelligence, quantum computing, and cyber. I look forward to supporting Synergy ECP as they advance on their mission of solving the toughest national security challenges for tip of the spear customers leading our Nation’s cyber and signals intelligence operations.”

About Synergy ECP
Founded in 2007 and headquartered in Columbia, Maryland, Synergy ECP is a leading provider of cybersecurity, software and systems engineering and IT services to the U.S. intelligence and defense communities. The company leverages its expertise in data transport solutions, software and systems engineering, and other solutions to deliver critical and innovative capabilities to high-level decision makers that enhance our nation’s security. For more information, visit http://www.synergyecp.com.

The MIL Network –

January 23, 2025

MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – DS SMITH PLC – Ordinary Shares

Source: GlobeNewswire (MIL-OSI)

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

KEY INFORMATION

(a)

Full name of discloser:

(b)

(c)

Name of offeror/offeree in relation to whose relevant securities this form relates:
Use a separate form for each offeror/offeree

DS Smith PLC

(d)

If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:

(e)

Date position held/dealing undertaken:
For an opening position disclosure, state the latest practicable date prior to the disclosure

14 October 2024

(f)

In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
If it is a cash offer or possible cash offer, state “N/A”

YES
International Paper Co

POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a)

Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:

10p ordinary (GB0008220112)

Interests

Short Positions

Number

(1)

Relevant securities owned and/or controlled:

28,934,543

2.10 %

(2)

Cash-settled derivatives:

(3)

Stock-settled derivatives (including options) and agreements to purchase/sell:

Total

28,934,543 *

2.10 %

* Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 537,794 shares that are included in the total above.

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b)

Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:

Details, including nature of the rights concerned and relevant percentages:

DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

The currency of all prices and other monetary amounts should be stated.

(a)

Purchases and sales

Class of relevant security

Purchase/sale

Number of securities

Price per unit

10p ordinary (GB0008220112)

Purchase

5,290

4.7000 GBP

There was a Transfer In of 86,972 shares of 10p ordinary

(b)

Cash-settled derivative transactions

Class of relevant security

Product description e.g. CFD

Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position

Number of reference securities

Price per unit

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(ii)

Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant security

Nature of dealing e.g. subscription, conversion

Details

Price per unit (if applicable)

OTHER INFORMATION

(a)

Indemnity and other dealing arrangements

None

(b)

Agreements, arrangements or understandings relating to options or derivatives

None

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

Date of disclosure

15 October 2024

Contact name

Thomas Hone

Telephone number

+44 20 3033 3419

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.

The MIL Network –

January 23, 2025

MIL-OSI Africa: South Africa: African Development Bank and Absa unveil multi-billion rand financial package to expand sustainable capital markets, boost economic growth for women and youth
Source: Africa Press Organisation – English (2) – Report:

JOHANNESBURG, South Africa, October 15, 2024/APO Group/ —

The African Development Bank (www.AfDB.org) and Absa Group, one of Africa’s leading financial services providers, today celebrated a landmark agreement to mark the execution of a transformative financial package aimed at increasing funding for underserved segments, across South Africa and the continent. The target audience includes women-owned businesses, youth entrepreneurs, and small and medium-sized enterprises (SMEs).

In addition to enhancing Absa’s regulatory capital, the facility will promote access to finance, deepen domestic capital markets, and ensure continued access to global supply chains for issuing banks in regional member countries, including low-income and fragile states.

The financial package includes:
- A subordinated sustainability-linked (Tier 2) loan amounting to R1.7 billion, complemented by a non-financial support package of R18 million for capacity building and technical assistance targeted at SMEs, youth, and women-owned enterprises.
- Subscription of R1 billion into Absa’s inaugural social (Tier 2) bond issuance, with proceeds earmarked for providing affordable housing loans to female homeowners.
- A trade finance Risk Participation Agreement (RPA) facility valued at $150 million, designed to underwrite the risks of trade transactions originated by African issuing banks, reinforcing Absa’s role as a regional bank.
Several components of the package have already been executed, including the successful issuance of Absa’s first Tier 2 social bond on the Johannesburg Stock Exchange in July 2024. The R1 billion proceeds from this bond will be allocated towards affordable housing loans specifically targeting women, empowering them as first-time homeowners in low-income segments.

Leila Mokaddem, Director General of the African Development Bank’s Southern Africa Region, stated: “This partnership with Absa Group underscores our commitment to driving sustainable and inclusive economic growth across Africa. Through this financial package, we are not only fortifying Absa’s capital base but also ensuring that essential funding reaches women, youth, and entrepreneurs, fostering a more equitable and prosperous continent. This collaboration aligns seamlessly with our strategic priorities of supporting Africa’s industrialization and enhancing the quality of life for its people. “

Absa has secured a R1.7 billion sustainability-linked Tier 2 loan aimed at general corporate business purposes while incentivizing the extension of finance products to women-owned SMEs as a key performance indicator. As part of this agreement, Absa is collaborating with the African Development Bank to enhance skills among both Absa staff and women business owners. A capacity-building training program has been launched to address the unique challenges faced by female and youth entrepreneurs, by providing mentorship and financial solutions.

Charles Russon, Absa Group interim CEO designate remarked: “The finalisation of this package concludes a three-year process that significantly enhances our capacity to fund social initiatives aligned with our commitment to being a force for good. This partnership enables us to increase funding for women and youth in South Africa while facilitating greater trade opportunities across the continent. “

“This partnership aligns with the African Development Bank’s strategic objectives of advancing green, social, and sustainability instruments in the domestic capital markets, supporting African capital market development and regional financial integration,” said Ahmed Attout, Director of the Financial Sector Development Department at the African Development Bank. He emphasised that it is designed to empower Absa to effectively disburse funds for highly impactful social and sustainable economic development initiatives.

The $150 million trade finance facility will drive trade support across Africa, addressing the continent’s annual trade finance gap of over $100 billion. This initiative will enhance access to financing for key sectors such as agriculture, transport, and manufacturing, while fostering financial sector development and regional integration.

MIL OSI Africa –
January 23, 2025
MIL-OSI China: 136th Canton Fair kicks off, bringing broader market opportunities to trade partners

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

136th Canton Fair kicks off, bringing broader market opportunities to trade partners

GUANGZHOU, Oct. 15 — The 136th China Import and Export Fair, popularly known as the Canton Fair, kicked off in Guangzhou, the capital of south China’s Guangdong Province, on Tuesday.

Themed “Serving high-quality development, promoting high-level opening-up,” this edition of the fair features more than 30,000 exhibitors showcasing 1.15 million new products.

Many new companies, products, technologies and business models are making their debut, attracting 147,000 overseas buyers who have pre-registered for the fair.

According to Chu Shijia, head of the China Foreign Trade Center, over 8,000 exhibitors have been recognized as national high-tech enterprises, “little giants” specializing in niche industries, or manufacturing champions, representing a more than 40 percent increase from the previous edition of the Canton Fair.

Around 390,000 digital and smart products will be showcased, a 300 percent surge compared to the 135th Canton Fair, while the number of green and low-carbon products will rise by 130 percent to 1.04 million.

A survey conducted by the organizers ahead of the fair indicated that 94 percent of exhibitors would bring in new products, and 64.8 percent would showcase products with independent intellectual property rights. More than 1 million new items and products with intellectual property rights are on display, alongside a range of humanoid robots, smart devices and unmanned products making their debut at the fair.

The online platform for the 136th Canton Fair has been further optimized, featuring a virtual digital host and a dedicated Canton Fair app.

The scale of the online exhibition has expanded significantly, with around 48,000 companies uploading approximately 3.75 million products to the platform, an increase of 60 percent and 50 percent, respectively, compared to the previous fair, both of which are historic highs.

As of Monday, buyers from 209 countries and regions had pre-registered for the event. Additionally, 241 of the world’s top 250 retailers and leading multinational corporations are participating in the fair.

“Based on indicators such as pre-registrations, hotel bookings and flight reservations, improved attendance of overseas buyers at the 136th Canton Fair is expected,” Chu said.

The fair highlights the high-quality development of Chinese products and brands, and China is confident in its ability to offer more and better products — both “made in China” and “created in China” — to the world, Chu noted.

The fair will be held in three phases between Oct. 15 and Nov. 4 and is set to include 55 exhibition areas covering 1.55 million square meters. The first phase, running from Oct. 15 to 19, will introduce new topics such as hydrogen energy and feature a dedicated area for energy storage products, attracting over 110 new energy companies.

Launched in 1957 and held twice yearly, the Canton Fair is considered a major gauge of China’s foreign trade.

MIL OSI China News –

January 23, 2025
MIL-OSI China: Liu Cixin opens sci-fi museum, wishes Musk success on Mars mission

Source: China State Council Information Office 3

An opening ceremony for a museum dedicated to the established sci-fi writer Liu Cixin was part of the first-day activities for the second Liu Cixin Hometown Science Fiction Culture Week in Yangquan, Shanxi province.

A photo captures the Liu Cixin Sci-Fi Museum. [Photo/Xinhua]

Held from Oct. 13 to Oct.16 and in the writer’s hometown, the four-day cultural event includes an array of activities and events such as writers presenting lectures at local schools, a sci-fi and popular science writers’ symposium, a sci-fi literature writing contest, sci-fi artwork exhibitions as well as the opening ceremony for the Liu Cixin Sci-Fi Museum.

The museum chronicles the award-winning writer’s life and growth, showcases his creative journey and literary achievements, and spotlights the various adaptations his literary works have received since their initial publications. Liu has penned seven novels and over 40 short stories and novellas, including “The Three-Body Problem” and “The Wandering Earth,” in Yangquan.

During the ceremony, Liu expressed his hope that the museum, the first sci-fi museum focusing on a single sci-fi writer in China, would spark the public’s interest in science fiction literature, saying: “I hope that science fiction can bring readers more joy and awe, allowing them to touch the stars with their imaginations and embrace the future.”

According to the 2024 China Science Fiction Industry Report, the total revenue of China’s sci-fi industry reached 113.29 billion yuan ($15.94 billion) in 2023, exceeding 100 billion yuan for the first time. A part of this is from adaptations of Liu’s works, with “The Wandering Earth” movies grossing billions of yuan in China’s film market and his Hugo Award-winning novel “The Three-Body Problem” generating influence and contributing to various industries’ profits.

However, Liu remained sober in his assessment: “Sci-fi literature has moved from a marginal existence into the spotlight in China, but the current state of this genre is not as flourishing as people might imagine. The popularity of ‘The Three-Body Problem’ was somewhat by chance; Chinese sci-fi literature still needs further, greater development.”

Liu Cixin (left) announces with local and literature officials the grand opening of the Liu Cixin Sci-Fi Museum in Yangquan, Shanxi province, Oct. 13, 2024. [Photo courtesy of Yangquan Federation of Literary and Art Circles]

Besides the museum’s opening ceremony on Oct. 13, Liu also attended other activities, such as a panel discussion where he stated that he greatly admires Elon Musk, whose spacecraft manufacturing company SpaceX successfully launched a test flight of Starship on the same day.

Back in September, Musk, the founder and CEO of SpaceX, announced on X, formerly known as Twitter and now owned by Musk, that the Starship mega-rocket would begin missions to Mars in two years, launching uncrewed flights to test the safeness of landings. If successful, crewed missions would follow within four years. Musk also stated that flight frequency would then be increased exponentially, aiming to build a self-sustaining city on Mars within 20 years.

“Although the Mars colonization project may face many difficulties, I still hope he can succeed,” Liu said. When asked whether he would be willing to move to Mars, Liu laughed, responding that: “If it’s a round trip, I would be very willing to go, but if it’s a one-way trip, then it would be very difficult for me. I still have a lot of work to do on Earth, and there’s also my family.”

Besides looking at how to inhabit the Red Planet, Musk’s business endeavors have also started speculating about technological advancements on the Earth. On Oct. 10, at the Tesla Cybercab robotaxi event, Musk, who is also the CEO of Tesla, shared his vision of a future filled with self-driving cars without steering wheels, parking lots transformed into parks and robots walking among humans.

“Musk is like someone who has jumped out of a science fiction novel, turning many things from our science fiction novels into reality,” Liu remarked during the panel discussion.

Sci-fi writers Chao Xia, Zhu Yuqing and Liu Cixin (left to right) participated on a panel to discuss the theme of “Sci-Fi Literature Empowering New Quality Productive Forces” in Yangquan, Shanxi province, on Oct. 13, 2024. The others who participated in the panel discussion were Li Xiaodong (center), the event host and an official with the China Writers Association; Yu Haichun, a research fellow of the Management Committee of Shijingshan Park in Zhongguancun Science Park; and Wang Weiying, head of the sci-fi division at China Science and Technology Press and director general of the Beijing Yuanyu Science Fiction and Future Technology Research Institute. [Photo courtesy of Yangquan Federation of Literary and Art Circles]

“The technology for autonomous driving has already reached a very mature stage, but the obstacles to its development may lie not in the technology itself, but at the societal level,” Liu stated. He also acknowledged that, though he has not yet taken a ride in a self-driving vehicle, he frequently sees autonomous delivery vehicles navigating the Yangquan’s streets. Yangquan was the first prefecture-level city in China to fully embrace autonomous driving with autonomous taxis, buses and delivery vehicles.

Liu added: “When a new technology replaces an old one, some fluctuations occur. For example, the Luddite Movement of the 19th century involved large-scale worker-led machine destruction. We may now be facing such a historical juncture again, and if the right choices are made, we could usher in a brand-new era of new quality productive forces.”

MIL OSI China News –

January 23, 2025
MIL-OSI China: 136th Canton Fair kicks off

Source: China State Council Information Office

The 136th China Import and Export Fair, popularly known as the Canton Fair, kicked off in Guangzhou, the capital of south China’s Guangdong Province, on Tuesday.

Themed “Serving high-quality development, promoting high-level opening-up,” this edition of the fair features more than 30,000 exhibitors showcasing 1.15 million new products.

Many new companies, products, technologies and business models are making their debut, attracting 147,000 overseas buyers who have pre-registered for the fair.

According to Chu Shijia, head of the China Foreign Trade Center, over 8,000 exhibitors have been recognized as national high-tech enterprises, “little giants” specializing in niche industries, or manufacturing champions, representing a more than 40 percent increase from the previous edition of the Canton Fair.

Around 390,000 digital and smart products will be showcased, a 300 percent surge compared to the 135th Canton Fair, while the number of green and low-carbon products will rise by 130 percent to 1.04 million.

A survey conducted by the organizers ahead of the fair indicated that 94 percent of exhibitors would bring in new products, and 64.8 percent would showcase products with independent intellectual property rights. More than 1 million new items and products with intellectual property rights are on display, alongside a range of humanoid robots, smart devices and unmanned products making their debut at the fair.

The online platform for the 136th Canton Fair has been further optimized, featuring a virtual digital host and a dedicated Canton Fair app.

The scale of the online exhibition has expanded significantly, with around 48,000 companies uploading approximately 3.75 million products to the platform, an increase of 60 percent and 50 percent, respectively, compared to the previous fair, both of which are historic highs.

As of Monday, buyers from 209 countries and regions had pre-registered for the event. Additionally, 241 of the world’s top 250 retailers and leading multinational corporations are participating in the fair.

“Based on indicators such as pre-registrations, hotel bookings and flight reservations, improved attendance of overseas buyers at the 136th Canton Fair is expected,” Chu said.

The fair highlights the high-quality development of Chinese products and brands, and China is confident in its ability to offer more and better products — both “made in China” and “created in China” — to the world, Chu noted.

The fair will be held in three phases between Oct. 15 and Nov. 4 and is set to include 55 exhibition areas covering 1.55 million square meters. The first phase, running from Oct. 15 to 19, will introduce new topics such as hydrogen energy and feature a dedicated area for energy storage products, attracting over 110 new energy companies.

Launched in 1957 and held twice yearly, the Canton Fair is considered a major gauge of China’s foreign trade.

MIL OSI China News –

January 23, 2025
MIL-OSI China: First batch of 10 ETFs tracking CSI A500 starts trading

Source: China State Council Information Office

The first batch of 10 exchange-traded funds (ETFs) tracking the CSI A500 started trading on Tuesday, with five on the Shanghai Stock Exchange and the rest on the Shenzhen Stock Exchange.

The new stock index, CSI A500, was formally released by the China Securities Index Co., Ltd. on Sept. 23, while the 10 ETFs tracking this index was launched on Sept. 10.

The index tracks 500 securities with large market values to reflect the overall stock performance of listed companies most representative of China’s various industries.

MIL OSI China News –

January 23, 2025
MIL-OSI United Kingdom: Research programme to ensure UK economy uses AI to grow safely
Source: United Kingdom – Executive Government & Departments

Researchers to be supported in boosting defences against societal risks such as deepfakes and cyber-attacks.
Support unveiled for researchers to boost defences against societal risks including deepfakes and cyber-attacks

First phase of AI Safety Institute scheme to provide researchers with up to £200,000 in grants launches

Programme dedicated to ‘systemic AI safety’ to boost public trust as technology is rolled out across the economy

Researchers focused on boosting society’s resilience against AI risks such as deepfakes, misinformation, and cyber-attacks, can now access government grants to drive forward their work which will help ensure the safety of AI, as the UK taps into its potential to spark economic growth and improvements to public services.

The scheme launched today (Tuesday 15th October), in partnership with the Engineering and Physical Sciences Research Council (EPSRC) and Innovate UK, part of UK Research and Innovation (UKRI), is focused on how society can be protected from the potential risks of AI. It will also support research to tackle the threat of AI systems failing unexpectedly, for example in the financial sector.

Tackling these risks head on will boost public confidence in the technology which holds enormous potential to spark long-term growth, while keeping the UK at the heart of research into responsible and trustworthy AI development. Ensuring public confidence in AI is central to the government’s plans for seizing its potential, as the UK harnesses the technology to drive up productivity and deliver public services which are fit for the future.

To ensure the UK can continue to harness the enormous opportunities of AI, the government has also committed to introduce highly-targeted legislation for the handful of companies developing the most powerful AI models, ensuring a proportionate approach to regulation rather than new blanket rules on its use.

Systemic AI safety is focused on the systems and infrastructure where AI is being deployed across different sectors. The programme launched today hopes to spark a broad range of research to identify the critical risks of frontier AI adoption in critical sectors like healthcare and energy services, identifying potential solutions which can then be transformed into long-term tools which tackle potential AI risks in these areas.

Secretary of State for Science, Innovation, and Technology, Peter Kyle said:

My focus is on speeding up the adoption of AI across the country so that we can kickstart growth and improve public services. Central to that plan though is boosting public trust in the innovations which are already delivering real change.

That’s where this grants programme comes in. By tapping into a wide range of expertise from industry to academia, we are supporting the research which will make sure that as we roll AI systems out across our economy, they can be safe and trustworthy at the point of delivery.

Launching the formal opening of its Systemic Safety Grants Programme, the UK’s AI Safety Institute is looking to back around 20 projects with funding of up to £200,000 each over the course of its first phase, worth £4 million. In total the fund is worth £8.5 million, first announced at May’s AI Seoul Summit, with the additional cash to become available in due course as further phases are launched.

Applicants will be assessed on the potential issues their research could solve and what risks it addresses, having until 26th of November to submit their proposals.

AI Safety Institute Chair Ian Hogarth, said:

This grants programme allows us to advance broader understanding on the emerging topic of systemic AI safety. It will focus on identifying and mitigating risks associated with AI deployment in specific sectors which could impact society, whether that’s in areas like deepfakes or the potential for AI systems to fail unexpectedly.

By bringing together researcher from a wide range of disciplines and backgrounds into this process of contributing to a broader base of AI research, we’re building up empirical evidence of where AI models could pose risks so we can develop a rounded approach to AI safety for the global public good.

The AI Safety Institute’s work in evaluating the safety of AI models is just one part of its mission, and the grants programme is set to deliver new research which will ultimately help societies across the world to better manage changes the technology could bring.

UK-based organisations are eligible to apply for grant funding via a dedicated website, and the programme’s opening phase will aim to deepen understandings over what challenges AI is likely to pose to society in the near future. Projects can also include international partners, boosting collaboration between developers and the AI research community while strengthening the shared global approach to the safe deployment and development of the technology.

Successful applicants will be confirmed in the end of January 2025, with the first round of grants then set to be awarded in February.

Notes to editors

Visit AI Safety Institute website for:

Guidance on how to apply for the grant scheme

Frequently Asked Questions (FAQs) about the grant scheme and the application process

DSIT media enquiries

Email press@dsit.gov.uk

Monday to Friday, 8:30am to 6pm 020 7215 300

Share this page

The following links open in a new tab

Share on Facebook (opens in new tab)

Share on Twitter (opens in new tab)

Updates to this page

Published 15 October 2024
MIL OSI United Kingdom –
January 23, 2025

MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – CENTAMIN PLC – Ordinary Shares

Source: GlobeNewswire (MIL-OSI)

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

KEY INFORMATION

(a)

Full name of discloser:

(b)

(c)

Name of offeror/offeree in relation to whose relevant securities this form relates:
Use a separate form for each offeror/offeree

Centamin PLC

(d)

If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:

(e)

Date position held/dealing undertaken:
For an opening position disclosure, state the latest practicable date prior to the disclosure

14 October 2024

(f)

In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
If it is a cash offer or possible cash offer, state “N/A”

YES
Anglogold Ashanti Plc

POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a)

Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:

Ordinary NPV (JE00B5TT1872)

Interests

Short Positions

Number

(1)

Relevant securities owned and/or controlled:

59,725,834

5.14 %

(2)

Cash-settled derivatives:

(3)

Stock-settled derivatives (including options) and agreements to purchase/sell:

Total

59,725,834 *

5.14 %

* Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 41,005 shares that are included in the total above.

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b)

Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:

Details, including nature of the rights concerned and relevant percentages:

DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

The currency of all prices and other monetary amounts should be stated.

(a)

Purchases and sales

Class of relevant security

Purchase/sale

Number of securities

Price per unit

Ordinary NPV (JE00B5TT1872)

Purchase

2,030

1.5270 GBP

There was a Transfer In of 132,138 shares of Ordinary NPV

(b)

Cash-settled derivative transactions

Class of relevant security

Product description e.g. CFD

Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position

Number of reference securities

Price per unit

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(ii)

Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant security

Nature of dealing e.g. subscription, conversion

Details

Price per unit (if applicable)

OTHER INFORMATION

(a)

Indemnity and other dealing arrangements

None

(b)

Agreements, arrangements or understandings relating to options or derivatives

None

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

Date of disclosure

15 October 2024

Contact name

Thomas Hone

Telephone number

+44 20 3033 3419

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at http://www.thetakeoverpanel.org.uk.

The MIL Network –

January 23, 2025

MIL-OSI Russia: Electronics manufacturer becomes resident of Technopolis Moscow SEZ

MILES AXLE Translation. Region: Russian Federation –

Source: Moscow Government – Government of Moscow –

The manufacturer of electronics, single-board computers and peripheral equipment has become a resident of the special economic zone (SEZ) “Technopolis Moscow”. The company “Digital Lab” will produce 21 thousand products annually, and private investments in the project have already amounted to about 200 million rubles. This was reported by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.

“One of the effective measures to support the city is to localize the enterprise in the special economic zone of the capital. Today, this is the center for the development of advanced, the most high-tech industry in Moscow, which includes six sites. More than 220 enterprises operate here, of which over 110 have resident status and enjoy a number of tax preferences. Increasing the number of SEZ residents is under the special control of Sergei Sobyanin,” said Maxim Liksutov.

The uniqueness of the products lies in the universal selection of components, which allows for the prompt reconfiguration of production from the release of components for unmanned aerial vehicles (UAVs) to the manufacture of individual parts. Using single-board computers installed on UAVs, it is possible to solve many problems, for example, use an intelligent decision-making system, analyze video from several video cameras, and classify objects.

“High-tech products of the companies of the SEZ Technopolis Moscow are in significant demand due to their innovativeness, high level of localization and ability to effectively replace imported analogues. Today, residents receive a number of tax benefits, which allows them to significantly increase their investments in development. In particular, residents are exempt from paying taxes on property, land and transport for 10 years. In the industrial park Rudnevo, the new resident of the special economic zone will create more than 120 jobs. The total production area will exceed 1.2 thousand square meters,” added the Minister of the Moscow Government, head of the capital’s Department of Investment and Industrial Policy

Anatoly Garbuzov.

Autonomy of production is achieved thanks to unique software and hardware complexes and production of final products. According to the company’s CEO Evgeny Konstantinov, all circuitry and device architecture was created by the company’s specialists, so it is possible to personalize connectors, memory cards and equipment dimensions in accordance with the customer’s preferences. The manufacturer produces not only hardware complexes, but also software ones that can be quickly integrated for specific needs. Another development is communication systems (modems) that allow UAVs to operate in the absence of a global navigation satellite system signal and to switch between frequencies if one of them is suppressed.

In addition, there is a technical support line for users and a customer feedback form for product improvement.

Today, the Rudnevo industrial park has created favorable conditions for the development of high-tech companies whose products contribute to the technological sovereignty of the country and ensure independence from imports, noted Gennady Degtyarev, General Director of the Technopolis Moscow SEZ. Residents receive tax and customs preferences. The total investment of enterprises in production at the Rudnevo site has already amounted to 20 billion rubles.

SEZ Technopolis Moscow is a territory with a special legal status, where a preferential regime of entrepreneurial activity for investors operates. The area of six sites (Pechatniki, Alabushevo, Mikron, MIET, Angstrem, Rudnevo), where high-tech enterprises are located, exceeds 280 hectares. SEZ Technopolis Moscow has been a leader in international and national industry ratings for several years.

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/145213073/

MIL OSI Russia News –

January 23, 2025
MIL-OSI United Kingdom: Gaston highlights lack of Unionist support to put the brakes on Irish signage

Source: Traditional Unionist Voice – Northern Ireland

Statement by TUV MLA Timothy Gaston:

“Last week Infrastructure Minister John O’Dowd announced by way of a departmental press release that he was making road signs in parts of west Belfast. When this was reported in Friday’s News Letter the DUP’s Keith Buchanan, who sits on the infrastructure committee, was quoted as questioning the decision citing the cost given other budgetary pressures on the Department.

“I am therefore both surprised and disappointed that having lodged a petition in the Assembly Business Office first thing on Monday morning on the issue, 24 hours later the only signature on it is my own. Should 30 MLAs sign the petition, Minister O’Dowd’s decision would be referred to the Executive where a cross community vote would have to be held on the matter.

“No one can claim to be ignorant of the petition as my office emailed all Unionist MLAs yesterday morning in the following terms:

Dear friend,

I am writing to draw your attention to the fact that Timothy Gaston has this morning lodged a petition in the business office to refer the Minister for Infrastructure’s decision to install bi-lingual traffic and road markings in parts of Belfast. Significantly, not only was this matter not brought to the executive but due process appears to have gone completely out the window with no record of an equality impact assessment.

We believe that this sets a dangerous precedent and that it is both significant and controversial. I note press commentary from other Unionists which suggests they agree. This email is being sent to all Unionist members to alert them to the fact that the petition is now in the business office. Timothy would obviously appreciate your support for it – and indeed his motion of No Confidence in the First Minister and Minister Murphy.

Yours,
Sammy Morrison, PA to Timothy Gaston MLA

“It would appear that while some are happy to issue press releases on this issue, they are not prepared to use the mechanisms of the Assembly and Executive to actually do something of substance about it. That said, I would be delighted to be proved wrong by a queue of MLAs signing the petition today.”

MIL OSI United Kingdom –

January 23, 2025
MIL-OSI Asia-Pac: BFAC appreciates Intellectual Property Department’s contribution to development of Hong Kong into regional intellectual property trading centre

Source: Hong Kong Government special administrative region

The following is issued on behalf of the Business Facilitation Advisory Committee Secretariat:

     The Business Facilitation Advisory Committee held its 55th meeting today (October 15). At the meeting, members were briefed by the Intellectual Property Department (IPD) on various policy measures implemented by the Government to develop Hong Kong into a regional intellectual property (IP) trading centre, and the progress to date.

     The Government has been implementing a series of short-, medium- and long-term measures from three aspects, including strengthening the protection of IP rights, building capacity, and promoting widely, to promote the development of Hong Kong into a regional IP trading centre, thereby expanding Hong Kong’s competitive advantages in developing IP trading in the region. Key measures include, among others, implementing the “patent box” tax incentive and exploring further enhancement of the Copyright Ordinance (Cap. 528) regarding protection for development of artificial intelligence (AI) technology.

     The Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Ordinance 2024 was enacted in July 2024 to implement a “patent box” tax incentive in Hong Kong. The tax rate for qualifying profits derived from eligible IP (in particular patents) created through research and development activities is set at 5 per cent which is substantially lower than the prevailing normal profits tax rate of Hong Kong (i.e. 16.5 per cent). In addition, in view of the copyright issues arising from the rapid development of AI technology, the IPD, having launched its two-month public consultation (closed on September 8 this year), is considering stakeholders’ submissions in exploring further enhancement of the Copyright Ordinance regarding protection for such technology development to ensure that the local copyright regime remains robust and competitive.

The Committee appreciated the IPD’s ongoing efforts in taking forward a series of policy measures to enable Hong Kong to seize the opportunity brought by IP trading and sustain its competitiveness, thereby ensuring the continuous high-quality development of the economy.

The Committee also received the work reports of its three task forces:

Wholesale and Retail Task Force (WRTF)
———————————————

Hong Kong Customs briefed the WRTF on the scope of registration for dealers in precious metals and stones (DPMS) and the DPMS Registration System (DRS). Any person who is seeking to carry on a business of dealing in precious metals and stones in Hong Kong and engage in any transaction(s) with a total value at or above HK$120,000 in Hong Kong is required to register with the Commissioner of Customs and Excise. To advocate the Government’s vision to develop Hong Kong into a smart city, Hong Kong Customs has rolled out the DRS to support the submission of registration applications and progress checking by the trade at their convenience. The DRS adopts the dynamic QR code authentication technology to enable the industry and consumers to instantly validate the registration of dealers. The WRTF thanked Hong Kong Customs for the briefing and welcomed the e-service introduced by Hong Kong Customs for the registration for DPMS.

The Hong Kong Productivity Council (HKPC) briefed the WRTF on the Government Funding Scheme Management Centre (GFSMC) and the Biz Expands Easy (BEE) Platform. Since 2022, the GFSMC introduced the BEE 3-in-1 platform, which provides Hong Kong corporations with integrated information for 28 funding schemes. Registered users can log in to the platform to view and manage applications for multiple funding schemes under HKPC secretariat support. Furthermore, the GFSMC inaugurated the Biz Expands Easy Square in January 2024 to further enhance the accessibility of funding resources for Hong Kong corporations and start-ups, and also foster a network for applicants to share their successful experiences. The WRTF welcomed the BEE Platform, and considered the BEE Platform would enable users to further understand designated funding schemes and explore suitable funding schemes.

Food Business and Related Services Task Force (FRSTF)

The Food and Environmental Hygiene Department (FEHD) briefed and consulted the FRSTF on whether there is a need to retain composite food shop licences and extend the validity period of a full food business licence, in response to the views of the Legislative Council (LegCo)’s Public Accounts Committee. The FRSTF suggested that the FEHD retain the composite food shop licence with better promotion to the trades on the licence type. For the extension of the validity period of full licences, as trades would not have flexibility to choose a shorter licensing period and the annual compliance of fire safety requirements remains at the status quo, the FRSTF considered that the extension of the validity period of full licences may not facilitate the trades’ operations and there is no need for its implementation.

The FEHD also briefed and consulted the FRSTF on enhanced measures against illegal operations of food businesses in response to the views of the LegCo’s Public Accounts Committee. To suppress the industry’s practice of operating food businesses before obtaining a provisional licence/full licence, in addition to taking enforcement actions, the FEHD suggested suspending the processing of licence applications and debarring the same applicant and his/her partners from applying for the same type of licence for the same premises for 12 months upon conviction of a relevant offence by the court. The FRSTF opined that the proposed administrative measures are too harsh and may undermine the catering business. The FRSTF suggested that the FEHD assist the trades to obtain a provisional licence more efficiently to address the issue of illegal operations.

Task Force on Business Liaison Groups (BLGTF)

The Inland Revenue Department (IRD) briefed the BLGTF on the initiative of the electronic filing (e-filing) of profits tax returns, including the need to take forward the mandatory e-filing, the benefits of e-filing, the enhanced e-filing services, the IRD’s support measures to taxpayers, and the timeline of the phased implementation of mandatory e-filing. The BLGTF welcomed the above initiatives and invited the IRD to brief and consult more small and medium-sized enterprises (SMEs) on the initiative. The IRD undertook to keep up the ongoing work of soliciting suggestions and opinions from SMEs through different channels.

     The Committee also expressed appreciation of the commitment and achievements of the bureaux and departments in continuously implementing business facilitation measures under the Be the Smart Regulator Programme to enhance their business licensing services.

     Papers for the Committee meeting are available at www.gov.hk/en/business/supportenterprises/bf/advisory/index.htm for public access.

MIL OSI Asia Pacific News –

January 23, 2025
MIL-OSI Banking: CBB 12 Month Treasury Bills Issue No. 121 Oversubscribed

Source: Central Bank of Bahrain

CBB 12 Month Treasury Bills Issue No. 121 Oversubscribed

Published on 15 October 2024

Manama, Bahrain –15^th October 2024 – This week’s BD 100 million issue of Government Treasury Bills has been oversubscribed by 137%.

The bills, carrying a maturity of 12 months, are issued by the CBB, on behalf of the Kingdom of Bahrain.

The issue date of the bills is 17^th October 2024, and the maturity date is 16^th October 2025.

The weighted average rate of interest is 5.42% compared to 5.37% of the previous issue on 19^th September 2024

The approximate average price for the issue was 94.808% with the lowest accepted price being 94.687%.

This is issue No. 121 (ISIN BH00019OE454) of Government Treasury Bills. With this, the total outstanding value of Government Treasury Bills is BD 2.110 billion.

Share this

MIL OSI Global Banks –

January 23, 2025
MIL-OSI Europe: Decree signed for Emilia-Romagna SLZ. President Meloni: “Significant development opportunities for local businesses”

Source: Government of Italy (English)

Vai al Contenuto Raggiungi il piè di pagina

11 Ottobre 2024

A Decree of the President of the Council of Ministers has been signed establishing the Emilia-Romagna ‘Simplified Logistics Zone’ (‘SLZ’), following the preliminary work carried out by the Minister for European Affairs, Southern Italy, Cohesion Policy and the NRRP, Raffaele Fitto. The new SLZ will enable companies in the Emilia-Romagna Region to access simplified administrative procedures and incentives regarding investments in the area, as well as a new tax credit.

“By signing this decree – stated President Meloni – we are guaranteeing new development opportunities for businesses in the Emilia-Romagna Region, supporting strategic investments, as we also stated in our Government programme. With the establishment of the Emilia-Romagna SLZ, we are taking another concrete step to foster local growth and development, also ensuring that companies can access the SLZ tax credit, another measure this Government strongly advocated for”.

The SLZ tax credit is in fact an important support measure for businesses operating in simplified logistics zones. This benefit is available to all enterprises, regardless of their legal form and accounting regime, that are already established or are about to be set up in an existing or forthcoming simplified logistics zone.

MIL OSI Europe News –

January 23, 2025
MIL-OSI Europe: New publications by GEMs Consortium offer further insights into emerging market credit risk

Source: European Investment Bank

Two new publications by Global Emerging Markets Risk Database (GEMs) Consortium provide granular default and recovery patterns for over three decades of development finance, and highlight the key drivers of investment risk in emerging markets and developing economies (EMDEs).

Luxembourg, October 15, 2024 — Two new publications released today by the GEMs Consortium – a group of 26 multilateral development banks (MDBs) and development finance institutions (DFIs) – provide further insights on the level of credit risk in EMDEs according to the investment experience of Consortium members.

The first publication covers the credit performance of lending to private and public counterparts. The average annual default rate of lending to private entities at 3.56% is broadly aligned with many non-investment grade firms in advanced economies, and the average recovery rate of 72.2% is higher than many global benchmarks. Although the GEMs statistics reflect the unique experience of MDBs and DFIs, these results provide valuable information on the investment risk in EMDEs, an area characterized by a lack of available credit risk data.

The second publication provides default rates and – for the first time – recovery rates for sovereign and sovereign-guaranteed lending based on an expanded range of 40 years of data. Results shows an average annual default rate of 1.06% and an average recovery rate of 94.9% and complement the GEMs statistics on private and public counterparts to provide a comprehensive view on EMDEs credit risks.

These increasingly granular statistical publications by the GEMs Consortium address the call by the G20 and other stakeholders to provide investors greater insights into credit risks in emerging markets, thereby allowing them to better guide their asset allocations. The new publications provide statistics at the country and sector level, as well as a range of newly introduced metrics.

“The availability of credit statistics is critical to mobilizing more private investment into emerging markets and developing economies by helping investors better understand the risk profile of such investments,” said Román Escolano, Group Chief Risk Officer, European Investment Bank. “The updated publications, with greater disaggregation and analysis, address feedback from our key stakeholders, and GEMs plans to continue publishing such statistics in a timely manner.”

EMDEs generally receive less investment than advanced economies. At the same time, developing countries need $4 trillion of annual investment to achieve the Sustainable Development Goals by 2030, and $2.8 trillion of annual clean energy investment by next decade to meet both rising energy demands and climate targets.

“The GEMs statistics challenge the conventional view that emerging markets are high-risk destinations for investment,” said Federico Galizia, Vice President, Risk and Finance, International Finance Corporation. “With 30 years of default frequencies and recovery rates, and now even further levels of disaggregation, GEMs shows that emerging market investments should be within the risk appetite of a broad range of investors.”

The GEMs publications include default and recovery rates for over three decades of lending by Consortium members to private, public, and sovereign borrowers. The disclosed historic default and recovery rates can be used by investors and credit rating agencies to refine their risk assessment and asset allocation, and provide a useful benchmark for risk and pricing models. Both new publications are available on the GEMs website (http://www.gemsriskdatabase.org).

About GEMs

Global Emerging Markets Risk Database (GEMs) Consortium is one of the largest credit risk databases for the emerging markets operations of its member institutions – multilateral development banks and development finance institutions. It pools anonymized data on credit defaults on the loans extended by Consortium members the migrations of their clients’ credit rating and the recoveries on defaulted projects in emerging markets and developing economies, thus providing an insight into geographies that are otherwise relatively poorly served in terms of empirical credit information.

GEMs was established in 2009 as a bilateral initiative between the European Investment Bank and the International Finance Corporation (World Bank Group). Since then, the GEMs Consortium has grown to include 26 members: African Development Bank (AfDB), Agence Française de Développement (AFD), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), Black Sea Trade and Development Bank (BSTDB), Banque Ouest Africaine de Développement (BOAD), British International Investment (BII), Council of Europe Development Bank (CEB), Central American Bank for Economic Integration (CABEI), European Bank for Reconstruction and Development (EBRD), European Investment Bank Group (EIB), GuarantCo, Inter-American Development Bank (IDB), Inter-American Investment Corporation (IDB Invest), International Finance Corporation (IFC), International Bank for Reconstruction and Development (IBRD), International Fund for Agricultural Development (IFAD), Islamic Development Bank (IsDB), Kreditanstalt für Wiederaufbau (KfW), Multilateral Investment Guarantee Agency (MIGA), Netherlands Development Finance Company (FMO), U.S. International Development Finance Corporation (DFC), New Development Bank (NDB), Proparco, Cassa Depositi e Prestiti (CDP), and Development Bank of Southern Africa (DBSA).

MIL OSI Europe News –

January 23, 2025
MIL-OSI Europe: Written question – AI and energy consumption – E-001977/2024
Source: European Parliament
Question for written answer E-001977/2024
to the Commission
Rule 144
Nicolás González Casares (S&D)

The EU is a pioneer in regulating artificial intelligence. However, although the legislation itself warns of the energy required by this technology, it does not include provisions on this aspect of its development. AI requires significant quantities of energy to function and the International Energy Agency estimates that the total demand from the use of artificial intelligence and data centres could double between 2022 and 2026. Big companies with investments in AI are trying to buy zero-emission electricity at above-market rates to obtain decarbonised electricity.

In view of this:

1.Has the Commission carried out any evaluations of the development of electricity use, and specifically of zero-emission electricity, in AI technology and its effects on climate goals, or of energy efficiency and of renewables in the EU?

2.In light of the fact that this unchecked development could put the provision of zero-emission electricity to citizens and other industries at risk, what steps will the Commission take to tackle this issue?

Submitted: 8.10.2024
Last updated: 15 October 2024
MIL OSI Europe News –
January 23, 2025
MIL-OSI Europe: Written question – Commission seeking to fine all Elon Musk’s companies – P-001972/2024
Source: European Parliament
Priority question for written answer P-001972/2024
to the Commission
Rule 144
Malika Sorel (PfE), Elisabeth Dieringer (PfE), Nikola Bartůšek (PfE), António Tânger Corrêa (PfE), Julien Leonardelli (PfE), Hermann Tertsch (PfE), Philippe Olivier (PfE), Valérie Deloge (PfE), Auke Zijlstra (PfE), Sebastian Kruis (PfE), Gilles Pennelle (PfE), Aleksandar Nikolic (PfE), Alexandre Varaut (PfE), Jorge Buxadé Villalba (PfE), Pierre Pimpie (PfE), Thierry Mariani (PfE), Jorge Martín Frías (PfE), András László (PfE)

On 25 September 2024, we learned from press reports[1] that the Commission is considering imposing fines against Elon Musk. This decision follows the opening of an investigation in December 2023, and would target not only X (formerly Twitter), but also other companies owned by Musk, such as Tesla and SpaceX.

1.Can the Commission confirm that it is planning to impose fines not not only on X but on all companies controlled by Elon Musk?

2.Can the Commission confirm that its objective in this procedure is strictly linked to compliance with EU laws and not to a desire to increase the size of the potential fine?

3.Does the Commission recognise that this could be seen as a targeted attack against Elon Musk, suggesting a personal vendetta rather than impartial action to punish a platform for possible breaches of EU rules, which would in turn expose European strategic interests to potential retaliation measures, for example in connection with the launch of the Galileo constellation of satellites[2]?

Submitted: 7.10.2024

[1] https://www.lalibre.be/international/europe/2024/09/25/quelle-amende-risque-elon-musk-de-la-part-de-lunion-europeenne-un-montant-qui-pourrait-saverer-dissuasif-meme-pour-lhomme-le-plus-riche-du-monde-UU52PN5FDZFS3K3GJZGNE2D2RY/.

[2] https://www.lecho.be/entreprises/defense-aeronautique/spacex-designe-pour-lancer-quatre-satellites-europeens-galileo/10501093.html
Last updated: 15 October 2024
MIL OSI Europe News –
January 23, 2025
MIL-OSI Europe: EasyGov.swiss: new trans-agency services for company relocations and business closures

Source: Switzerland – Department of Economic Affairs, Education and Research

On 9 October, the State Secretariat for Economic Affairs (SECO) again expanded EasyGov.swiss, the online portal for companies. Two additional cross-authority services are now available to companies: with the company relocation service, companies can report a change of address to all relevant authorities in one go. EasyGov’s business closure service assists companies with all the necessary process steps, from registering liquidation to deletion.

MIL OSI Europe News –

January 23, 2025
MIL-OSI Europe: Briefing – Confirmation hearings of the Commissioners-designate: Hadja Lahbib – Preparedness and Crisis Management; Equality – 15-10-2024

Source: European Parliament

Hadja Lahbib a member of the Mouvement reformateur (MR) party, which sits with the Renew Europe group in the European Parliament, has been serving as Belgian minister for foreign affairs, European affairs and foreign trade, and federal cultural institutions since 2022. She was elected as a member of the Parliament of the Brussels Capital Region in 2024 but is currently on leave to fulfil her ministerial duties. Before joining the Belgian government, she co-led the Brussels bid for the title of European Capital of Culture 2030. Born in Belgium in 1970 to a family of Algerian Kabyle origin, Lahbib obtained a master’s degree in journalism and communication from the Université Libre de Bruxelles. She then worked as a journalist and presenter for Belgium’s French-speaking public broadcasting company and other broadcasters, where she gained international experience in covering conflict zones, including Afghanistan, Iraq, Israel and the occupied Palestinian territories. She produced several documentaries to highlight injustices, especially those against women in Afghanistan, Kenya and Belgium.

MIL OSI Europe News –

January 23, 2025
MIL-OSI Europe: Briefing – Confirmation hearings of the Commissioners-designate: Magnus Brunner – Internal Affairs and Migration – 15-10-2024

Source: European Parliament

Magnus Brunner has been Austria’s federal minister for finance since December 2021. Prior to this role, he served as a state secretary in the Federal Ministry of Climate Protection, Environment, Energy, Mobility, Innovation and Technology from 2020 to 2021. From 2018 to 2020, Brunner was vice-president of the Federal Council of Austria, after having served as a member of this institution from 2009 to 2020. Additionally, he served on the Municipal Council of the Höchst Municipality from 2000 to 2004. From 2009 to 2020 Brunner was a member of the Federal Council of the Austrian People’s Party (ÖVP), affiliated to the European People’s Party (EPP) group in the European Parliament. Brunner’s earlier professional experience includes serving as the political director of the Austrian Economic Association (2002-2005), as well as holding the position of head of corporate development, communication and strategic development at the Austrian energy company Illwerke VKw Group (2006). He was also on the Board of the Austrian energy company OeMAG (2007-2020). Born in 1972, Brunner is a graduate of King’s College London (LLM), the University of Innsbruck and the University of Vienna (where he obtained a PhD in law). This is one of a set of briefings designed to give an overview of issues of interest relating to the portfolios of the Commissioners designate. All these briefings can be found at: https://epthinktank.eu/commissioner_hearings_2024.

MIL OSI Europe News –

January 23, 2025
MIL-OSI: Global Net Lease Announces Release Date for Third Quarter 2024 Results

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) — Global Net Lease, Inc. (NYSE: GNL) (“GNL” or the “Company”) announced today that it will release its financial results for the third quarter ended September 30, 2024 on Wednesday, November 6, 2024 after the close of trading on the New York Stock Exchange.

The Company will host a conference call and audio webcast on Thursday, November 7, 2024, beginning at 11:00 a.m. ET, to discuss the third quarter results and provide commentary on business performance. The results will be released before the call which will be conducted by GNL’s management team. A question-and-answer session will follow the prepared remarks.

Dial-in instructions for the conference call and the replay are outlined below. This conference call will also be broadcast live over the Internet and can be accessed by all interested parties through the GNL website, http://www.globalnetlease.com, in the “Investor Relations” section. To listen to the live call, please go to the “Investor Relations” section of the Company’s website at least 15 minutes prior to the start of the call to register and download any necessary audio software. For those who are not able to listen to the live broadcast, a replay will be available shortly after the call on the GNL website.

Conference Call Details

Live Call
Dial-In (Toll Free): 1-877-407-0792
International Dial-In: 1-201-689-8263

Conference Replay*
Domestic Dial-In (Toll Free): 1-844-512-2921
International Dial-In: 1-412-317-6671
Conference Replay Number: 13746750

*Available from 2:00 p.m. ET on November 7, 2024 through February 7, 2025.

About Global Net Lease, Inc.

Global Net Lease, Inc. is a publicly traded real estate investment trust listed on the NYSE, which focuses on acquiring and managing a global portfolio of income producing net lease assets across the United States, and Western and Northern Europe. Additional information about GNL can be found on its website at http://www.globalnetlease.com.

Important Notice

The statements in this press release that are not historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. The words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “expects,” “estimates,” “projects,” “potential,” “predicts,” “plans,” “intends,” “would,” “could,” “should” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the risks associated with realization of the anticipated benefits of the merger with The Necessity Retail REIT, Inc. and the internalization of the Company’s property management and advisory functions; that any potential future acquisition or disposition by the Company is subject to market conditions and capital availability and may not be identified or completed on favorable terms, or at all. Some of the risks and uncertainties, although not all risks and uncertainties, that could cause the Company’s actual results to differ materially from those presented in its forward-looking statements are set forth in the Risk Factors and “Quantitative and Qualitative Disclosures about Market Risk” sections in the Company’s Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, and all of its other filings with the U.S. Securities and Exchange Commission, as such risks, uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further, forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

Contacts:
Investor Relations
Email: investorrelations@globalnetlease.com
Phone: (332) 265-2020

The MIL Network –

January 23, 2025
MIL-OSI: HighPeak Energy, Inc. Announces 2024 Third Quarter Earnings Release and Conference Call Dates

Source: GlobeNewswire (MIL-OSI)

FORT WORTH, Texas, Oct. 15, 2024 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (NASDAQ: HPK) (“HighPeak Energy”), today announced that it plans to release its 2024 third quarter financial and operating results after the close of trading on Monday, November 4, 2024.

HighPeak Energy will host a conference call and webcast on Tuesday, November 5, 2024 at 10:00 a.m. Central Time for investors and analysts to discuss its 2024 third quarter financial results and operational highlights. Participants may register for the call here. Access to the live audio-only webcast and replay of the earnings release conference call may be found here. A live broadcast of the earnings conference call will also be available on HighPeak Energy’s website at http://www.highpeakenergy.com under the “Investors” section of the website.

About HighPeak Energy, Inc.

HighPeak Energy is a publicly traded independent oil and natural gas company, headquartered in Fort Worth, Texas, focused on the acquisition, development, exploration and exploitation of oil and natural gas reserves in the Midland Basin in West Texas. For more information, please visit our website at http://www.highpeakenergy.com.

Investor Contact:
Ryan Hightower
Vice President, Business Development
817.850.9204
rhightower@highpeakenergy.com

Source: HighPeak Energy, Inc.

The MIL Network –

January 23, 2025
MIL-OSI Russia: Rosneft has developed a tabletop “monopoly” for training oil workers

MILES AXLE Translation. Region: Russian Federation –

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

Specialists from the Rosneft Research Institute in Ufa have developed a board game to train workers in the oil and gas industry. Participants in the “oil monopoly” go through all stages of field development, from prospecting and exploration to design and commissioning.

The integrated modeling game is intended for specialists of any level and field, including students.

The teams’ playing field is divided into three blocks: geology and development, development, and economics. By throwing a die and moving their token around the field, the participant answers questions on the oil and gas business, as well as gets acquainted with Rosneft’s corporate software and makes decisions on the development of their assets. Random events can occur in the game – from changes in tax legislation to the introduction of innovative technologies.

The winner is the participant or team that develops the deposit with the greatest economic efficiency. Game techniques help improve skills in building an asset development strategy in conditions of market competition and limited resources.

More than 50 copies of the “oil monopoly” have been transferred to Rosneft perimeter enterprises and third-party oil and gas companies. For training personnel in the oil and gas industry, the game is planned to be transferred to 8 universities in the country, including the Company’s corporate departments at the Ufa State Petroleum Technological University and the Ufa University of Science and Technology.

At present, specialists from the Ufa Institute are developing a course for teaching specialists and students the rules of the game and are working on the prospect of digitalizing the game for the subsequent creation of an electronic version.

Department of Information and Advertising of PJSC NK Rosneft October 15, 2024

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.rosneft.ru/press/nevs/item/220913/

MIL OSI Russia News –

January 23, 2025

Category: Business

Beware complacency

Little prospect of reduction of inequality

Post navigation

Archives

Post navigation

Archives

Notes to editors

Share this page

Updates to this page