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  • MIL-OSI USA: Senator Graham, Governor McMaster, Lt. Governor Evette Announce Team South Carolina Days For Hurricane Helene Recovery Resources

    US Senate News:

    Source: United States Senator for South Carolina Lindsey Graham
    WASHINGTON – In order to best serve South Carolinians who were impacted by Hurricane Helene, U.S. Senator Lindsey Graham (R-South Carolina) is joining Governor Henry McMaster and Lieutenant Governor Pamela Evette in announcing a series of Team South Carolina Days. These will be one-stop-shops for South Carolinians who need access to federal, state and nonprofit resources as the state rebuilds after Hurricane Helene.
    Click here to watch Graham’s video on Team South Carolina Days
    Graham said, “I know it’s been tough on our state. There has been so much devastation. I’ll be working with Governor McMaster and Lieutenant Governor Evette to host Team South Carolina Days where we will get federal, state and local people together so you’ll know where to go to get the services you need.”
    Graham concluded, “I know people are hurting out there. I believe this will help.”
    Team South Carolina Days will include representatives from South Carolina state agencies to assist with a variety of services including information for seniors, veterans, and children, and information concerning insurance and unemployment benefits. Officials from the Small Business Administration (SBA) will be on hand to provide information on disaster loans for small businesses. The South Carolina Office of Resilience will be able to provide assistance with applying for disaster relief and the Federal Emergency Management Agency (FEMA) will attend to take applications for individual assistance. Several nonprofits are expected to be in attendance as well.
    Please see below for information on the Team South Carolina Days that have been announced.
    Serving Pickens, Anderson, and Oconee Counties:
    Wednesday, October 9
    10:00 am – 4:00 pm
    Clemson Littlejohn Coliseum
    219 Perimeter Road
    Clemson, SC 29634
     
    Serving Spartanburg and Cherokee Counties:
    Thursday, October 10
    10:00 am – 4:00 pm
    University of South Carolina Upstate
    Health Education Complex
    300 N. Campus Blvd
    Spartanburg, SC, 29303
     
    Serving Greenville County:
    Friday, October 11
    10:00 am – 4:00 pm
    Greenville Technical College
    Student Success Center
    506 South Pleasantburg Drive
    Greenville, SC 29607
    Additional Team South Carolina Days will soon be announced for the weeks of October 14 and 21 for other impacted counties.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Education – Ara Creative Industries collab with ‘Planetary Emergency’

    Source: Ara Institute of Canterbury

    An October collaboration is a providing a chance for the talented staff of Ara’s Creative Industries Department to put their own practice on display.
    ‘Planetary Emergency’ at the Arts Centre’s Pūmanawa Gallery from 7 to 13 October is a multidisciplinary exhibition by tutors and technicians in art and design – their work responding to current environmental and social issues.
    Curator Dorothée Pauli said the artists and designers involved chose the theme as a collective and have responded to it in a variety of media, including textile design, fashion design, photography, printmaking, painting and mixed media works.
    “The theme was settled on two years ago when we discussed a combined research outcome. We have a strong commitment to research of course, as we teach at the graduate and post graduate level at Ara,” Pauli said.
    “The exhibition highlights the creative spirit at the heart of our department, and how artistic practice engages with, and comments on, complex contemporary issues,” she added.
    Pauli’s own contribution is the essay supporting the exhibition which contextualises the various works. Ara’s Visual Communication Design tutor Carl Pavletich designed the publication bringing her words and the works together.
    In it, Pauli notes that Ara staff had approached the exhibition with a united sense of purpose, continuing a long tradition in the history of the visual arts seeking to “bear witness to what we see is happening around us”.
    “We accept that art alone cannot change the world but assert that our personal actions matter and that the uniquely human capacity for aesthetic creativity privileges us to advocate for the survival and dignity for all life on earth,” she wrote.
    The exhibiting artists include Holly Liberona, Denise Mill, John Hill, Rach Winter, Stefan Roberts, Kim Lowe, John Osborne, Deb Marshall, Julie Humby, Sandra Thomson, Wendy Clarke, Katharina Jaeger, Oliver Perkins, Carol King and Jane Schollum.
    Besides their teaching and research commitments in their respective fields, a significant number of the exhibitors maintain an independent creative practice.
    “Daily, our focus is the growth and development of our ākonga, seven of whom achieved Master’s qualifications in Ara’s recent Spring graduation,” Pauli said. “Investment in their work can take precedence over our own practices but ‘Planetary Emergency’ is a rare chance to express our own expertise.”
    It’s been three years since staff have collaborated in this way, and a project they had embraced enthusiastically.
    “They’ve all responded differently. Some have pushed planetary emergency awareness and environmental concerns; others allow more room for personal interpretation of the work. The audience will take away what they will take away,” Pauli said.
    Current art and design ākonga said they felt honoured to attend the exhibition opening.
    “It’s the first time we’ve had a chance to see their work. It’s like putting a face to a name,” second year Applied Visual Arts student Amy Carpenter said.
    “They can be a bit shy about talking about themselves or sharing what their own practices may look like. To be able to have more of an understanding of their work is great.”
    Supported by the Ara Institute of Canterbury Research Fund, Planetary Emergency is on for just seven days in the heritage Pūmanawa Gallery at the Christchurch Arts Centre. 

    MIL OSI New Zealand News –

  • MIL-OSI Russia: Moscow Shares Best Practices for Urban Infrastructure Development with Regions

    MILES AXLE Translation. Region: Russian Federation –

    Source: Transport and Industry of Moscow

    The Moscow government has launched a series of demonstration days to show best practices in urban infrastructure development that can be implemented in other regions of Russia. Maxim Liksutov, Deputy Mayor of Moscow for Transport and Industry, announced the initiative.

    The first event was dedicated to advanced solutions in the field of transport. Participants were presented with the best practices for the development of the city’s transport system, as well as innovative digital services for drivers and passengers.

    On the instructions of Moscow Mayor Sergei Sobyanin, the capital is ready to share its successful practices and cooperate with the regions to improve the quality of life of city residents. This is in line with the goals set by the President and the Government of the Russian Federation. Today’s event is the result of extensive joint work by the Moscow Government and the Agency for Strategic Initiatives. Over the past few months, we have studied and assessed socially significant urban practices that may be useful to other regions, and selected the best of them, noted Maxim Liksutov.

    Experts from the Agency for Strategic Initiatives (ASI) assessed practices in Moscow and other regions to determine their feasibility and applicability in areas with different population sizes. Using a comprehensive approach, specialists identified the most promising solutions for implementation in the regions.

    It is important that the regions have the opportunity to see transport infrastructure facilities and effective solutions with their own eyes. Today, they were able to evaluate Moscow solutions that help the capital remain a leader in digitalization and approaches to the development of the transport system, as well as other practices supported by the Agency and presented at Smartek. Some of these practices are completely free and can be easily implemented in the regions, since they do not require investments in new infrastructure or information systems. They can really take advantage of the huge resources that the authors of the project are ready to provide to other regions and cities. To help the regions understand the effect of the implemented transport solutions, the Agency will develop a corresponding methodology. This document will allow them to see the degree of influence of the practices on the indicators of the national project, – shared Svetlana Chupsheva, General Director of ASI.

    Regions will gain access to more than 70 practices in the fields of transport, industry, tourism, culture, healthcare, ecology, education, investment and business development, and social support.

    Moscow, as a center for the development of high-tech industries, is implementing more than 20 citywide measures to support industry and is already disseminating positive experience to the regions, including through the conclusion of interregional offset contracts. As part of a specialized demo day, we will share with colleagues the most successful practices of localizing innovative technical and commercial enterprises. The creation of high-tech, knowledge-intensive industries in the regions is, first of all, strengthening the technological sovereignty of the country, developing its scientific and technical potential and, of course, increasing wages and improving the quality of life of people, said Anatoly Garbuzov, Minister of the Moscow Government, Head of the Department of Investment and Industrial Policy.

    The Moscow government is actively replicating successful solutions to increase investment activity and economic attractiveness of regions.

    Thus, within the framework of the St. Petersburg International Economic Forum 2024, the Government of Moscow and the Ministry of Economic Development signed an agreement on the creation of a single investment portal of the Russian Federation. The basis for joint development will be the investment portal of the Government of Moscow. In February 2024, the first joint digital product was launched – the Investment Map of the Russian Federation.

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

    MIL OSI Russia News –

  • MIL-OSI Submissions: Invest Moldova Agency – Moldova Receives ‘B+’ Rating with Stable Outlook from Fitch Ratings, Signaling Economic and Financial Resilience

    Source: Invest Moldova Agency

    Fitch Ratings has assigned the Republic of Moldova a Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B+’ with a Stable Outlook. (ref. https://invest.gov.md/en/fitch-ratings-assigns-moldova-a-b-rating-with-stable-outlook-reflecting-economic-and-financial-resilience )

    This rating highlights the country’s steady commitment to maintaining macroeconomic and financial stability through prudent fiscal policies, a credible inflation-targeting framework, and a flexible exchange rate regime. These factors, combined with a resilient banking sector, demonstrate Moldova’s progress in overcoming past challenges and building a more stable financial environment.

    One of the key elements supporting this rating is the resilience of Moldova’s banking sector. For the past 10 years, Moldova undertook a comprehensive overhaul of its regulatory standards. Today, the sector remains well-capitalized, profitable, and exhibits low levels of non-performing loans. These improvements have fortified the country’s financial system, enhancing confidence in its ability to withstand economic pressures.

    Victoria Belous, the Minister of Finance of the Republic of Moldova, emphasized the significance of the rating in strengthening Moldova’s financial standing:

    “The B+ rating with a stable outlook reflects our efforts to maintain financial stability and prudently manage public debt. It sends a strong signal to investors and confirms the effectiveness of our policies. This rating will open new financing opportunities and support Moldova’s expansion on international markets.”

    Her statement underscores the government’s focus on responsible fiscal management and how the rating aligns with Moldova’s ambitions to attract international investors.

    Dumitru Alaiba, the Minister of Economic Development and Digitalization of the Republic of Moldova, also commented on the positive impact of the Fitch rating on Moldova’s global investment attractiveness:

    “For many years, we have been striving to improve our country’s rating. The report from Fitch Ratings is a key indicator for financial markets and institutional investors. The better the rating, the more attractive and stable the country becomes, and the lower the cost of financing. We are acting on all reform fronts within our control. I am pleased to see that our efforts over the past three years are now yielding tangible results. We continue to work hard moving forward.”

    Moldova’s B+ rating, coupled with its stable outlook, confirms the country’s commitment to economic reforms and financial discipline. By maintaining prudent fiscal policies and a robust regulatory environment, Moldova is well-positioned to leverage new financing opportunities. As a result, this rating serves as a milestone for the country as it continues to expand its presence on international markets and strengthen investor confidence.

    The Invest Moldova Agency, under the Prime Minister’s Office, promotes Moldova as an investment destination and supports export growth. Managing the national brand, it fosters international partnerships, economic diplomacy, and sectoral growth, enhancing Moldova’s global economic appeal

    MIL OSI – Submitted News –

  • MIL-OSI Australia: Tourism to become $91 billion cornerstone of NSW economy

    Source: New South Wales Premiere

    Published: 8 October 2024

    Released by: The Premier, Minister for the Arts, Minister for Music and the Night-time Economy, Minister for Tourism

    Millions of extra airline seats, tens of thousands of hotel rooms and a focus on experience-led tourism will transform the state’s visitor economy into a $91 billion powerhouse as set out in a government review of the NSW Visitor Economy Strategy.

    The Minns Government will adopt a more ambitious goal of $91 billion in annual visitor economy expenditure by 2035 – a 40% increase on the previous goal. The accelerated growth is expected to provide a big economic windfall for regional communities, with $44 billion (48%) of the $91 billion expected to be spent in regional NSW. 

    This ambitious growth trajectory will further cement tourism as a critical pillar of future growth in the NSW economy, driving up to 150,000 new jobs by 2035.

    The next decade of growth in the visitor economy will be underpinned by a potential increase of 8.5 million airline seats due to the new Newcastle Airport international terminal opening in 2025, the opening of the Western Sydney International Airport in 2026, increased capacity at Sydney Airport and growth in cross-border arrivals through Canberra Airport and Gold Coast Airport.

    The Minns government has already been working to boost aviation capacity through support for the recently announced Turkish Airlines route to Sydney Airport and an agreement to support Newcastle Airport to attract more international routes.

    This additional capacity will increase competition, providing a greater incentive for European travellers to choose NSW as their holiday destination and put downward pressure on the cost of holidays for NSW families.

    To meet the $91 billion stretch goal, the review highlights key challenges including:

    • The need for 40,000 extra hotel rooms, a 41% increase on what’s currently available
    • Significant worker and skills shortages in roles such as tour guides and chefs
    • Need for increased business event facilities in Sydney, Western Sydney and priority regional areas.

    The review sets out a series of recommendations for achieving the stretch goal including:

    • Prioritise the NSW Visitor Economy Strategy as a government-wide economic focus.
    • Anchor the Visitor Economy Strategy around ‘experience tourism’
    • Celebrate First Nations culture and businesses through authentic visitor experiences.
    • Increase accommodation quality across regional NSW and quantity in Greater Sydney.
    • Boost aviation capacity in key domestic and international markets.
    • Leverage leisure events to grow season al visitation and showcase NSW’s strengths.
    • Dominate Australia’s business events sector.
    • Capitalise on NSW’s status as being number one for international students.
    • Foster a diverse, skilled visitor economy workforce.

    The Minns government has begun work on attracting more business events with a $1.5 million increase in funding for Business Events Sydney in FY25.

    Confirming the international appeal of the experiences on offer in Sydney, last week the NSW capital was voted ‘best city in the world’ in the Condè Nast Traveller UK’s 2024 Readers’ Choice Awards. The poll cited Sydney’s ‘unique, indoor-outdoor way of life’ which speaks directly to the review’s recommendation to focus the NSW Visitor Economy Strategy on ‘experience tourism.’

    The NSW visitor economy is the biggest in Australia, achieving a record $53 billion in expenditure in FY24 and employing almost 300,000 workers. The NSW Visitor Economy Strategy 2030 had a target of $65 billion. The review into the 2030 strategy will inform the new NSW Visitor Economy Strategy 2035, which will be released in the coming months.

    A summary of the review of the NSW Visitor Economy Strategy 2030 is available here.

    Premier of New South Wales Chris Minns said:

    “From pristine beaches to lush national parks, NSW is an unbeatable hotspot for tourists across the globe.

    “People coming to New South Wales for a holiday is at an all time high, but this review shows there are opportunities to grow it even more, partially due to more airports opening and more flight routes being secured.

    “We are ready to put our shoulder to the wheel and attract even more travellers to NSW, boosting local business and creating thousands of jobs.”

    Minister for the Arts, Minister for Music and the Night-time Economy, and Minister for Jobs and Tourism John Graham said:

    “This is a very exciting moment for the NSW visitor economy. We’re taking a sector that is already very strong and raising our ambitions even higher.

    “This review dares us to dream big, but it also outlines the hard work needed to meet the opportunity.

    “To reach this ambitious new target we need to build more hotel rooms, attract and train more workers and create and market the experiences that connect visitors with the culture, nature and people of NSW.

    “NSW has the nature, the culture and incredible experiences. We just need to match it with hard work and planning.”

    MIL OSI News –

  • MIL-Evening Report: An unbroken night’s sleep is a myth. Here’s what good sleep looks like

    Source: The Conversation (Au and NZ) – By Amy Reynolds, Associate Professor in Clinical Sleep Health, Flinders University

    Bricolage/Shutterstock

    What do you imagine a good night’s sleep to be?

    Often when people come into our sleep clinic seeking treatment, they share ideas about healthy sleep.

    Many think when their head hits the pillow, they should fall into a deep and restorative sleep, and emerge after about eight hours feeling refreshed. They’re in good company – many Australians hold the same belief.

    In reality, healthy sleep is cyclic across the night, as you move in and out of the different stages of sleep, often waking up several times. Some people remember one or more of these awakenings, others do not. Let’s consider what a healthy night’s sleep looks like.

    Sleep cycles are a roller-coaster

    As an adult, our sleep moves through different cycles and brief awakenings during the night. Sleep cycles last roughly 90 minutes each.

    We typically start the night with lighter sleep, before moving into deeper sleep stages, and rising again into rapid eye movement (REM) sleep – the stage of sleep often linked to vivid dreaming.

    If sleeping well, we get most of our deep sleep in the first half of the night, with REM sleep more common in the second half of the night.

    Deepest sleep usually happens during the first half of the night.
    Verin/Shutterstock

    Adults usually move through five or six sleep cycles in a night, and it is entirely normal to wake up briefly at the end of each one. That means we might be waking up five times during the night. This can increase with older age and still be healthy. If you’re not remembering these awakenings that’s OK – they can be quite brief.

    What does getting a ‘good’ sleep actually mean?

    You’ll often hear that adults need between seven and nine hours of sleep per night. But good sleep is about more than the number of hours – it’s also about the quality.

    For most people, sleeping well means being able to fall asleep soon after getting into bed (within around 30 minutes), sleeping without waking up for long periods, and waking feeling rested and ready for the day.

    You shouldn’t be feeling excessively sleepy during the day, especially if you’re regularly getting at least seven hours of refreshing sleep a night (this is a rough rule of thumb).

    But are you noticing you’re feeling physically tired, needing to nap regularly and still not feeling refreshed? It may be worthwhile touching base with your general practitioner, as there a range of possible reasons.

    Common issues

    Sleep disorders are common. Up to 25% of adults have insomnia, a sleep disorder where it may be hard to fall or stay asleep, or you may wake earlier in the morning than you’d like.

    Rates of common sleep disorders such as insomnia and sleep apnoea – where your breathing can partially or completely stop many times during the night – also increase with age, affecting 20% of early adults and 40% of people in middle age. There are effective treatments, so asking for help is important.

    Beyond sleep disorders, our sleep can also be disrupted by chronic health conditions – such as pain – and by certain medications.

    There can also be other reasons we’re not sleeping well. Some of us are woken by children, pets or traffic noise during the night. These “forced awakenings” mean we may find it harder to get up in the morning, take longer to leave bed and feel less satisfied with our sleep. For some people, night awakenings may have no clear cause.

    A good way to tell if these awakenings are a problem for you is by thinking about how they affect you. When they cause feelings of frustration or worry, or are impacting how we feel and function during the day, it might be a sign to seek some help.

    If waking up in the night is interfering with your normal day-to-day activities, it may indicate a problem.
    BearFotos/Shutterstock

    We also may struggle to get up in the morning. This could be for a range of reasons, including not sleeping long enough, going to bed or waking up at irregular times – or even your own internal clock, which can influence the time your body prefers to sleep.

    If you’re regularly struggling to get up for work or family needs, it can be an indication you may need to seek help. Some of these factors can be explored with a sleep psychologist if they are causing concern.

    Can my smart watch help?

    It is important to remember sleep-tracking devices can vary in accuracy for looking at the different sleep stages. While they can give a rough estimate, they are not a perfect measure.

    In-laboratory polysomnography, or PSG, is the best standard measure to examine your sleep stages. A PSG examines breathing, oxygen saturation, brain waves and heart rate during sleep.

    Rather than closely examining nightly data (including sleep stages) from a sleep tracker, it may be more helpful to look at the patterns of your sleep (bed and wake times) over time.

    Understanding your sleep patterns may help identify and adjust behaviours that negatively impact your sleep, such as your bedtime routine and sleeping environment.

    And if you find viewing your sleep data is making you feel worried about your sleep, this may not be useful for you. Most importantly, if you are concerned it is important to discuss it with your GP who can refer you to the appropriate specialist sleep health provider.

    Amy Reynolds receives funding from the National Health and Medical Research Council, the Medical Research Future Fund, the Australian Research Council, the Lifetime Support Authority, and has received consulting and/or speaker fees from industry-funded sources including Compumedics, Teva Pharmaceuticals and Sydney Trains.

    Claire Dunbar received funding from The Hospital Research Foundation for their PhD Scholarship and previously from Flinders University development grants.

    Hannah Scott receives research funding from Re-Time Pty Ltd, Compumedics Ltd, the American Academy of Sleep Medicine Foundation, and Flinders University.

    Nicole Lovato receives funding from the Australian Research Council, the National Health and Medical Research Council, the Medical Research Future Fund, the Hospital Research Foundation, the Lifetime Support Authority, and industry including ResMed, Phillips, and ReTime.

    Gorica Micic 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. An unbroken night’s sleep is a myth. Here’s what good sleep looks like – https://theconversation.com/an-unbroken-nights-sleep-is-a-myth-heres-what-good-sleep-looks-like-238069

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI New Zealand: Taiwan: Typhoon Krathon

    Source: New Zealand Ministry of Foreign Affairs and Trade – Safe Travel

    Taiwan: Typhoon Krathon

    Typhoon Krathon is expected to impact Taiwan from Wednesday 2 October. You should expect strong winds, heavy rain and storm surges during this time.

    Up to date information on Typhoon Krathon can be found on the Central Weather Administration website: Home | Central Weather Administration (cwa.gov.tw) We also recommend that you stay informed of developments by monitoring local media.

    We advise New Zealanders in Taiwan to follow the advice of the local authorities at all times and seek suitable shelter. Visitors and tourists staying in travel accommodation should follow the guidance of hotel/resort management. It is considered sensible practice not to venture outdoors during a typhoon and remain well away from the sea and rivers. 

    Please also ensure you keep your family and friends in New Zealand informed of your safety and well-being, including after the typhoon has passed.

    If you require emergency assistance, local emergency services can be contacted via the following numbers: Fire and Ambulance (119) and Police (110).

    New Zealanders requiring consular assistance can contact the New Zealand Commerce and Industry Office in Taipei between 9am to 5pm Monday to Thursday and between 9am and 12.30pm on Friday on +886 2 2720 5228 or email nzcio.tpe@msa.hinet.net. For after-hours emergency consular assistance for New Zealanders please call +64 9 920 2020.

    Associated Advisories:

    Posted:2 Oct 2024, 08:57

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    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Strengthened cyber security support for New Zealand businesses

    Source: New Zealand Government

    The Government has reaffirmed its commitment to ensuring New Zealand is a safe and secure place to do business with the launch of new cyber security resources, Small Business and Manufacturing Minister Andrew Bayly says.

    “Cyber security is crucial for businesses, but it’s often discounted for more immediate business concerns. That’s why we’ve developed these practical, easy-to-use resources to help businesses safeguard themselves against cyber threats.

    The programme, Unmask Cyber Crime, offers a series of short, educational videos that have been designed to raise awareness and provide small to medium business owners with the confidence to adopt effective cybersecurity practices. It comes as New Zealand businesses are increasingly identifying cyber security as a key concern for their business.

    “Cyber-attacks can severely impact businesses and business owners, leading to financial losses and reputational harm. Many New Zealand SMEs are especially vulnerable due to limited resources. This initiative equips them with the tools to understand and mitigate these risks.”

    Each video focuses on a specific aspect of cyber security, outlining risks to be aware of and practical steps that can be taken to enhance security. The videos are free and available to all businesses.

    “The government will continue working alongside the business sector to ensure these resources reach as many businesses as possible, supporting them to be resilient against cyber threats.

    Notes to editor:

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Allens advises CBA on divestment from VIB

    Source: Allens Insights

    Allens has advised the Commonwealth Bank of Australia (CBA) on its sale of approximately 5% stake in Vietnam International Commercial Joint Stock Bank (VIB), a leading Vietnamese commercial bank listed on the Ho Chi Minh Stock Exchange.

    With total gross proceeds of approximately $160 million, the sale forms part of CBA’s strategy to focus on its banking businesses in Australia and New Zealand.

    Allens advised on all aspects of the transaction, drawing on its extensive experience in Vietnam to advise not only on legal issues but also on strategic matters in the rapidly evolving Vietnamese market.

    ‘We are pleased to have worked with CBA to navigate the Vietnamese market throughout the lifecycle of this investment, with the firm also having advised on CBA’s original foreign strategic interest in 2010,’ said lead partner Linh Bui.

    ‘CBA is an important client of Allens in Australia and we are pleased to extend our support to CBA on this strategic investment in Vietnam.’

    Allens legal team

    Linh Bui (lead Partner), Ngoc Anh Tran (Partner), Ha Nguyen (Senior Associate), Kiet Do (Associate), Tien Tran (Associate)

    MIL OSI News –

  • MIL-OSI Economics: [World Mental Health Day] Enabling a Better Understanding of the Mind-Body Connection Through Advanced Health Research

    Source: Samsung

    Mental health impacts nearly every aspect of our daily lives — from physical health to relationships with friends, family and communities, as well as productivity at work and beyond. Despite the critical role mental health plays in overall well-being, the majority of available technologies are centered around physical health. Samsung is committed to fostering innovative health solutions for both today and tomorrow which is why we frequently collaborate with leading medical institutions and universities to leverage advanced technologies and explore new possibilities in health and wellness.
     
    In support of World Mental Health Day, Samsung is highlighting ongoing research programs with Massachusetts General Hospital, MIT Media Lab, Brigham & Women’s Hospital and Tulane University School of Medicine, Heart and Vascular Institute. These studies dive deep into the mind-body connection by examining various health indicators including depression, mood, resilience and even cardiovascular diseases to deliver more comprehensive and preventative health solutions for all.
     
     
    Enabling Depression Prevention & Detection With Massachusetts General Hospital

     
    Massachusetts General Hospital (MGH) has been analyzing the correlation between depression and various biomarkers by evaluating the health metrics of 150 participants with different levels of depression using the Galaxy Watch. The study aims to validate the correlations between depression and biometrics — such as participants’ patterns of biometric data, activity level, sleep stage, duration and latency on both weekends and weekdays — to identify more detailed characteristics. The findings will be used to introduce a mental health index, allowing users to better understand their mental state and take proactive measures
     
     
    Supporting Well-Being Through Better Sleep With MIT Media Lab

     
    MIT Media Lab has expanded the understanding of sleep’s role in well-being by linking sleep patterns to overall health. Approximately 200 college students participated in the study, tracking their sleep over a month and self-evaluating across five well-being indicators every morning — including alertness, happiness, energy, health and calmness. The study found strong associations between sleep and well-being with both sleep duration and sleep regularity directly affecting them. By utilizing a mixed-effect random forest (MERF) model, MIT Media Lab was able to predict the participants’ self-reported well-being based on their sleep patterns with a mean absolute error of 11-15 points on a 100-point scale which closely matched their self-evaluation results. This outcome highlights the link between sleep and well-being as well as the possibility of personalized well-being assessment and management through the analysis of sleep patterns.
     
     
    Helping Rapid Recovery With Brigham & Women’s Hospital

     
    Brigham & Women’s Hospital (BWH) is studying the relationship between biomarkers and an individual’s resilience, or how quickly one recovers from major stressors. As a holistic measure, resilience captures the capacity of the body and mind to withstand major events such as disease and surgery. For a first use case, they are monitoring patients before, during and after undergoing transcatheter aortic valve replacement (TAVR) surgery. The Galaxy Watch tracks participants’ lifestyle patterns and health conditions in real time while the data is automatically collected and analyzed using the Samsung Health Research Stack, a system designed to increase the efficiency and accuracy of large-scale research. This study aims to uncover insights into recovery and the ability to withstand stressors — not only to help inform medical decisions but also to help individuals understand how they can be prepared in both mind and body for any challenges that may come.
     
     
    Identifying Cardiovascular Risks With Tulane University School of Medicine

     
    Mental health has a well-established relationship with reduced risk of future cardiovascular disease. Tulane University School of Medicine is utilizing data from the Galaxy Watch and Samsung Health SDK to create biomarkers for early detection of cardiovascular disease risk factors. The study will closely monitor thousands of participants from diverse demographics and areas of high prevalence of cardiovascular diseases and risk factors for up to three years. Each participant’s health records and biometric data will then be analyzed to examine complex and interconnected health factors. Samsung and Tulane’s Heart and Vascular Institute hope to identify factors that impact cardiovascular disease with a goal of developing algorithms for individual cardiovascular disease prediction and prevention.
     
    “At Samsung, we are committed to supporting the health community by unlocking new frontiers that were previously impossible to explore,” said Dr. Hon Pak, Senior Vice President and Head of Digital Health Team, MX Business at Samsung Electronics. “That’s why we collaborate with leading medical institutions and accelerate research focused on the mind-body connection, leveraging our sensor technology and combined expertise to deliver truly holistic and preventative health solutions.”
     
     
    About Massachusetts General HospitalMassachusetts General Hospital, founded in 1811, is the original and largest teaching hospital of Harvard Medical School. The Mass General Research Institute conducts the largest hospital-based research program in the nation, with annual research operations of more than $1 billion and comprises more than 9,500 researchers working across more than 30 institutes, centers and departments. MGH is a founding member of the Mass General Brigham healthcare system.
     
    About the MIT Media LabAt the intersection of engineering, design, science, and art, the MIT Media Lab is an interdisciplinary creative playground rooted in academic excellence, made up of dozens of research groups, initiatives, and centers working collaboratively on hundreds of projects. Our overarching research themes address global challenges from well-being and cryptocurrencies to robotics and sustainable futures. Committed to diversity, equity, and inclusion, the MIT Media Lab collaborates with corporations, governments, NGOs, donors, and others around the globe to drive impactful change across sectors. Learn more at media.mit.edu.
     
    About Brigham and Women’s HospitalBrigham and Women’s Hospital is a world-class academic medical center based in Boston, Massachusetts. The Brigham serves patients from New England, across the United States and from 120 countries around the world. A major teaching hospital of Harvard Medical School, Brigham and Women’s Hospital has a legacy of clinical excellence that continues to grow year after year.
     
    The Brigham network includes 1,200 doctors throughout New England working across 150 outpatient practices. An international leader in virtually every area of medicine, the Brigham has led numerous medical and scientific breakthroughs that have improved lives around the world.
     
    U.S. News & World Report recognizes Brigham and Women’s Hospital among the best hospitals in many specialty areas, including cancer, heart and vascular, diabetes and endocrine disorders, ear, nose and throat, gastroenterology and GI surgery, geriatric care, gynecology, neurology and neurosurgery, orthopedics, pulmonology, rheumatology, and urology.
     
    About Tulane University School of MedicineFounded in 1834 as the Medical College of Louisiana, Tulane University School of Medicine is one of the oldest medical schools in the United States. Established to combat yellow fever and smallpox in New Orleans, the school is a leading institution known for medical education, research, and patient care. Over the years, it has significantly contributed to medicine, including groundbreaking research and innovative treatments. Today, Tulane continues its legacy of excellence, training the next generation of healthcare leaders and advancing medical knowledge.
     
    Tulane Medicine recruits top faculty, researchers, and students from around the world so they can collaborate and develop groundbreaking medical research and surgical advances. From new drugs to innovative care techniques, or the invention of the binocular microscope to robotic surgeries, we remain a constant presence at the forefront of modern medical innovation. Tulane Medicine equips the next generation of medical professionals — whether scientific or clinical — with a broad set of tools to succeed in a rapidly changing world. When you see the Tulane Shield, you always know that the future of medicine… is here.

    MIL OSI Economics –

  • MIL-OSI Economics: A Review of Digital Creative Industries in Asia: Opportunities and Policies to Foster Growth and Create High-Quality Jobs

    Source: Asia Development Bank

    A collaboration between ADB and Netflix, it focuses on movies, music, and gaming in India, Indonesia, Thailand, and Viet Nam. Assessing the potential of artificial intelligence, the private sector, and investment challenges, the report looks at ways countries can use incentives, supportive regulation, and better funding options to foster their creative industries and become attractive offshoring destinations.

    MIL OSI Economics –

  • MIL-OSI United Nations: Statement by UNFPA Executive Director, Dr. Natalia Kanem on the suffering of women and girls in the Middle East

    Source: United Nations Population Fund

    Today marks one year since the horrific 7 October terror attacks by Hamas and other armed groups on Israel in which more than 1,250 people were killed, hundreds taken hostage and acts of egregious sexual violence reported. This has been followed by Israel’s deadly military campaign in Gaza, where months of relentless bombardment and ground operations have killed more than 41,000 people – most of them women and children – and caused untold pain and destruction. 
     

    More than 2 million people in Gaza lack the basic necessities to survive – sanitation, health care, shelter, electricity and protection. Families have been forcibly displaced multiple times, moving from one unsafe place to another, with no escape and no home to which to return. Two million people have lost everything, their neighborhoods reduced to rubble. Around 96 per cent of the population faces crisis levels of hunger or worse. At the same time, the situation in the occupied West Bank, including East Jerusalem, continues to deteriorate. Life for millions in Palestine, Israel, and now across the region has changed forever. The rights and dignity of women and girls have been severely compromised. 
     

    The 155,000 pregnant women and new mothers in Gaza struggle every day to keep themselves and their babies alive, with the healthcare system in ruins and facilities deprived of the supplies they need to operate. Women’s chances of miscarriage or dying in childbirth have trebled. New mothers have spoken to us of giving birth alone in their tents at night; or seeking early Caesarean sections for fear they won’t survive until their due date.
     

    In conflict, it is vulnerable civilians who suffer most – pregnant women, children and newborns; the sick, the elderly, people living with disabilities.
     

    Among those affected are our colleagues, who continue to assist the vulnerable, despite having lost family members and their homes.
     

    More than 280 aid workers have been killed since the conflict began. 
     

    As families are packed into overcrowded, unsanitary temporary shelter areas, with no clean water or soap available, menstruation is impossible to manage. Some 10.3 million menstrual pads are needed every month in Gaza, yet nowhere near enough are permitted entry.
     

    Amid this suffering, UNFPA and its partners have helped around 45,000 women give birth safely since October 2023.  We are operating six mobile maternal health units in Gaza, which are equipped to manage obstetric emergencies, including Caesarean sections. UNFPA has also distributed reproductive health kits with medicines, equipment and supplies to support safe births, and deployed teams of midwives and healthcare workers to provide essential antenatal and postnatal care.
     

    UNFPA is deeply concerned for the safety and wellbeing of all women and girls caught up in the conflict. The situation they face is beyond catastrophic. It is time for the international community and all parties concerned to forge a future without fighting, where lives, homes and communities can be rebuilt. We need a ceasefire now. All parties must adhere to international humanitarian law and international human rights law. All hostages and all those arbitrarily detained must be released immediately and unconditionally. Rapid, safe and unimpeded humanitarian access to all in need must be guaranteed. 
     

    The atrocities must end. The fate of humanity does not belong in the hands of those wielding weapons. It must rest with women and young people and their allies standing together to wage peace.

    ####

    MIL OSI United Nations News –

  • MIL-OSI Submissions: Australia – CBA doubles Career Comeback program for 2025

    Source: Commonwealth Bank of Australia (CBA)

    The expanded program offers a wider range of opportunities across both Institutional Banking & Markets and the bank’s Chief Operations Office to support people returning to work from a career break.

    Commonwealth Bank’s Career Comeback Program is helping even more professionals overcome the barriers of returning to the corporate workforce, as the Group’s Chief Operations Office (COO) joins the Institutional Banking & Markets (IB&M) division in offering roles for the 2025 cohort.

    Entering its fifth year, CBA’s Career Comeback program aims to help individuals who have taken a career break of two years or more to transition back into the workforce at a mid-to-senior level.

    The 2025 program has been expanded to more than double the size of past intakes, offering roles across business operations, product management, institutional banking coverage, markets and project management. The paid, 12-week program includes a comprehensive induction process, coaching and technology upskilling, with the potential for successful participants to roll into a permanent position with the institutional bank or the chief operations office.

    “We know a team that is diverse in skills, experiences and perspectives is stronger and more capable and brings greater value to our clients. I’m proud to see our Career Comeback initiative expand to Group COO and support even more experienced professionals to return to a rewarding career in banking, markets and operations,” said Andrew Hinchliff, Group Executive IB&M at CBA.

    “Our people are our point of differentiation and are core to our strategy and our success. With the expansion of Career Comeback across COO, I hope to empower future leaders to consider a career in CBA where they can make a real difference for our customers,” said Sinead Taylor, Chief Operations Officer at CBA.

    Jo Reardon participated in IB&M’s Career Comeback program in 2021 – the first year of the initiative. Ms Reardon had stepped away from a career in institutional foreign currency sales in 2016 and was looking for options to return to the finance sector in late 2020 when she came across CBA’s program.

    “I wanted to go back into banking, but with more flexibility than the client-facing sales roles I’d had in the past, and an operating office role was that perfect middle ground for me,” she said, adding that being part of the Global Markets Chief Operating Office team leveraged her experience of currency markets and supporting institutional customers.

    Jo Reardon

    Today, Ms Reardon works as a Director in the Global Markets Sales Chief Operating Office, delivering strategic initiatives and projects to support the Markets sales team with serving the bank’s wholesale clients.

    “I encourage anyone considering re-entering the workforce to apply for this program. There’s a lot of recognition of the skills and experiences people develop away from a corporate context, and that they translate well into a professional environment, and you get the benefit of being part of a cohort who are in the same boat navigating that transition back into the workplace and helping each other bridge any gaps in technology or new systems and processes,” she said.

    Applications for the 2025 Career Comeback Program are now open and close on 1 November 2024. Successful candidates of the program will commence in March 2025.

    For more information on the CommBank Career Comeback Program, visit: commbank.com.au/careercomeback

    MIL OSI – Submitted News –

  • MIL-OSI New Zealand: Farmers demand rural banking system reform – Federated Farmers

    Source: Federated Farmers

    Farmers are angry about a rural banking system that isn’t working properly, poor bank behaviour, and Reserve Bank rules that hamstring the agricultural sector.
    The Federated Farmers submission to Parliament’s banking inquiry includes more than 1500 comments from farmers fed up with paying over the odds for banking services.
    “Lack of competition in rural banking, unfair practices, unjustifiably high interest margins and overly cautious Reserve Bank restrictions are seriously disadvantaging the nation’s food producers and export income earners,” Federated Farmers banking spokesperson Richard McIntyre says.
    Federated Farmers believes farmers are currently paying up to 1.7% more in borrowing costs than they should in a fair and open market.
    “We’re calling for urgent banking reform in the agricultural sector, where $62.5 billion in lending means even a 1% difference in margins represents $625 million,” McIntyre says.
    One of Federated Farmers’ key recommendations is for the Government to revise the Reserve Bank’s stringent one-in-200-year financial shock standard, which significantly raises borrowing costs for farmers.
    Moving to a one-in-100-year standard would still ensure stability while lowering costs for rural borrowers, McIntyre says.
    As well as the extensive feedback from farmers, Federated Farmers’ 140-page submission to the inquiry includes experts’ opinions, former bankers’ perspectives and research.
    More than one in five Kiwi farmers say their bank isn’t allowing them to structure their debt to minimise interest payments as much as possible.
    Too many farmers are pressured to use overdrafts to manage debt repayments or fund capital projects – tasks overdrafts were never intended for.
    In fact, 12% of farmers say their bank has asked them to fund capital work using an overdraft.
    “This is unacceptable,” McIntyre says.
    “Overdrafts are designed for managing seasonal cash flow, not to burden farmers with higher-interest debt to boost bank profits.”
    Federated Farmers’ submission says agricultural loans should have risk-weighted assets (RWAs) more in line with residential mortgages.
    “Rural loans, backed by valuable land, currently carry higher RWAs, inflating borrowing costs for farmers. A fairer system would provide more equitable access to credit.”
    The Government should ensure Kiwibank is properly funded and instructed to enter the agricultural lending market. Increased competition from a well-capitalised Kiwibank would give farmers better loan options, McIntyre says.
    “Our survey data found 40% of respondents would consider moving to Kiwibank if it offered agricultural banking services. Many farmers feel trapped by their current banking relationships.”
    Farmers also want more accountability and transparency from rural banking services.
    “Major banks should be required to present annually to a select committee, fully disclosing interest rates, lending practices, and profit margins related to agricultural lending.”
    Farmhouses should be classified as residential properties for mortgage purposes, not as commercial or agricultural loans.
    “We also think banks should offer more interest-only loans to farmers with sufficient equity, particularly those with Loan-to-Value Ratios (LVRs) of 50% or more,” McIntyre says.
    “These loans would provide financial relief during tough times without increasing systemic risk.”
    Among other recommendations in the Federated Farmers submission is a push to implement open banking regulations.
    “These would allow farmers to more easily compare financial products and switch banks, fostering greater competition and lowering borrowing costs.”
    McIntyre says Federated Farmers is not arguing for special treatment for farmers, just fairness and transparency.
    “We want to get back to those times when banks worked hard to maintain strong relationships with rural clients through regular on-farm visits, especially for those with substantial loans.
    “The banking inquiry is a huge opportunity for Parliament to significantly reduce costs in the agricultural sector and put in place competition that helps ensure farmers are treated fairly when they access capital to invest.”

    MIL OSI New Zealand News –

  • MIL-OSI China: China’s in-orbit satellite performs AI large-model tests

    Source: China State Council Information Office 2

    A Smart Dragon-3 carrier rocket carrying eight satellites blasts off from the waters near the city of Haiyang in east China’s Shandong Province, Sept. 24, 2024. [Photo/Xinhua]
    ADA Space, a Chinese AI satellite internet technology company, announced on Sunday that its recently-launched satellite has successfully completed the technical verification of AI large-model technology during the in-orbit operation.
    From Sept. 25 to Oct. 5, the satellite conducted 13 tests of its AI large model, involving multiple types of inference questions under various operating and temperature conditions.
    The technical test validated the space adaptability of the company’s AI large model in orbit, the reliability of the computing satellite platform, and the effective computing power of the high-performance payloads during operation in space, according to the company.
    In the next step, the satellite will conduct AI generation of 3D remote-sensing data in orbit. Its AI 3D-imaging capabilities can support a wide range of digital twin applications across various sectors, including low-altitude economies, cultural tourism and sports.
    The satellite was launched aboard a Smart Dragon-3 carrier rocket from the waters near the city of Haiyang in east China’s Shandong Province on Sept. 24.

    MIL OSI China News –

  • MIL-OSI Security: DoD Announces Health Care Supplement Program Pilot for DOD Civilian Employees in Japan

    Source: United States INDO PACIFIC COMMAND

    The Department of Defense (DoD) today announced a one-year pilot program to provide no-cost supplemental health support services to DoD civilian employees serving in Japan after a yearlong effort to identify and address concerns regarding access to medical care.

    “The Department recognizes the significant contributions of our DoD civilian workforce around the world,” said Ashish Vazirani, who is performing the duties of the Undersecretary of Defense for Personnel and Readiness. “In keeping with Secretary of Defense Lloyd J. Austin III’s commitment to taking care of all our people, we owe it to our civilians to facilitate access to health care no matter where they are. The support from this pilot program will help enhance the patient experience for the approximately 11,000 civilians stationed in Japan through the new pilot.”

    This pilot is called the Pilot Health Insurance Enhancement for DoD Civilian Employees in Japan and will assist eligible civilian employees with health care navigation and upfront costs associated with accessing Japan’s healthcare system.

    To be eligible, the employee must be enrolled in a participating health plan through the Federal Employees Health Benefits (FEHB) program. The enrollment window for eligible employees will be the Federal Benefits Open Season, which runs this year Nov. 11 through Dec. 9. Federal Benefits Open Season allows federal civilians to enroll in or change health care options.

    The services provided under this pilot will begin Jan. 1, 2025, when participants can use the services and access support through a call center. The call center will be open 24/7 and staffed with bilingual service representatives who will assist callers with identifying their needs, make appointments with provider offices, and issue payment guarantees up front. Dependents are not eligible for services during the pilot, which runs through Sept. 29, 2025.

    Employees working in Japan with the following military departments, defense agencies and DoD field activities are eligible for this supplemental coverage:

    • Department of the Air Force
    • Department of the Army
    • Department of the Navy
    • Defense Information Systems Agency
    • Defense Logistics Agency
    • Department of Defense Education Activity
    • Defense Commissary Agency
    • Defense Contract Management Agency
    • Defense Finance and Accounting Service
    • Defense Health Agency
    • Defense Media Activity
    • Defense Threat Reduction Agency
    • National Security Agency
    • Defense Intelligence Agency
    • National Geospatial-Intelligence Agency

    “We are excited to offer this program,” said Seileen Mullen, who is the Principal Deputy Assistant Secretary of Defense for Health Affairs. “This is a no-cost supplemental service, and we encourage civilian employees in Japan to use it.”

    The Office of the Assistant Secretary of Defense for Health Affairs will oversee the pilot program and has awarded a $4.2 million contract to International SOS Government Services Inc., which is also the prime contractor for the TRICARE Overseas Program. The contract for this pilot is being funded by the military departments, defense agencies and DoD field activities that have civilian employees working in Japan.

    Active-duty service members and TRICARE Prime beneficiaries have prioritized access to health care in military hospitals and clinics based on current federal law and DoD policy. DoD civilians who are not TRICARE beneficiaries may use military health facilities on a space-available basis.

    Agreements with FEHB insurance carriers who currently provide coverage for DoD civilian employees in Japan will be established to provide direct billing agreements. Non-appropriated Fund (NAF) employees are eligible for this program if enrolled in an Aetna International plan.

    Additional details dedicated to this pilot program will be announced before Federal Benefits Open Season begins. This information will also be posted to web sites for military hospitals and clinics in Japan in their “Getting Care” section.

    MIL Security OSI –

  • MIL-OSI Australia: From the Shadows to the Podium: Central Banks and the Press

    Source: Reserve Bank of Australia

    It’s a privilege to be with you today and to announce the shortlist for the 2024 Walkley Business Journalism Award.

    I am not the first senior official of the RBA to address this event – but, to put it mildly, our central banking predecessors a hundred years ago would have been surprised to see us here.

    The high priest of central banking in the mid-1920s was Montagu Norman, Governor of the Bank of England. Norman was an extraordinary character – a devotee of mysticism, who wore a long flowing cloak and travelled under the fake name of Professor Clarence Skinner. His communications strategy was succinctly summarised in the pithy phrase ‘never explain, never apologise’.

    He regularly put those words into practice. When asked by a Parliamentary select committee in 1930 to rationalise a particular course of action, for example, he simply tapped the side of his nose three times and stared into the distance.

    Despite – or perhaps because of – this unusual behaviour, journalists loved him. A breathless 1932 New York Times pen portrait, entitled ‘Banker and Legend’, purred: ‘Mr Norman is all elusiveness, technique, finesse … he sits silent, discreet, unseen … exercising a power unthought of by old-fashioned tyrants and only glimpsed by alchemists of long ago poring over their crucibles.’

    Sadly, that passion went unreciprocated. Indeed, Norman made titanic efforts to avoid the press. Once, aboard ship in rough seas, word reached him that reporters were gathering to question him at the next port. He promptly leapt over the rails, shimmied down a rope ladder, and made his escape in a dinghy.

    ‘Never explain, never apologise’ permeated every aspect of the Bank of England’s operations at that time. Not for them, the modern paraphernalia of glossy reports, explainers and press conferences. For much of the 20th century, changes in official interest rates were communicated solely through the medium of a large printed card, placed in the Bank’s ornate lobby, and a simultaneous verbal announcement by the ‘government broker’ to traders in the government bond market. To effect that announcement, the broker removed his top hat, stood upon a bench, and bellowed at the top of his voice. Fleet Street’s finest played no role.

    Indeed, even when I joined the Bank of England in the early 1990s, the main job of the Head of the Press Office was still said to be, with little irony: ‘keep the Bank out of the press and the press out of the Bank’.

    That mindset extended well beyond the United Kingdom.

    The US Federal Reserve, for example, was established in conditions of such extreme secrecy, that those meeting to agree its charter in 1910 tried to pass off their discussions as a recreational duck hunting trip to Jekyll Island, Georgia. Three quarters of a century later, they were still at it. In 1987, Alan Greenspan famously told members of the US Congress: ‘since I’ve become a central banker, I’ve learned to mumble with great incoherence … if I seem unduly clear to you, you must have misunderstood what I said.’ He was only half joking.

    Over recent years, however, things have changed profoundly as central banks have emerged blinking into the sunlight of greater transparency – a process dubbed the ‘quiet revolution’ by Alan Blinder.

    The revolution certainly began quietly. The RBA, for example, only began announcing changes to its policy rate to the media in 1990. Prior to that, market participants were expected to draw their own conclusions about what had happened by scrutinising the detail of the Bank’s market operations.

    In the years since, however, the revolution has got louder. Central banks now produce a vast stream of material, from written inflation reports, research material and policy committee minutes, to increasingly interactive public appearances, including speeches, Parliamentary scrutiny, conference panels, on-the-record interviews and press conferences.

    All of that reflects two key drivers.

    The first is the recognition that the huge powers conferred on central banks by the granting of operational independence – powers that affect every citizen in the country – come with an essential quid pro quo. And that is the obligation to account for our actions: to explain, and to be scrutinised and challenged. That need for explicit public accountability has been further amplified by the burgeoning scale, scope and complexity of central bank operations; by back-to-back crises; and by the more demanding public expectations of public institutions generally.

    But transparency and challenge isn’t just something we have to do: it manifestly also drives better policymaking. Public understanding and trust in our mission helps to anchor inflation expectations – a vital component of effective monetary policy. Knowing how central banks see the economic outlook, and how policy will respond to changes to that outlook – our so-called ‘reaction functions’ – affects behaviour today. Indeed, for many economies, the vast majority of the effect of monetary policy comes not from changes in today’s official interest rate, but through expectations about how those rates will evolve in the future. So communications is everything – or almost everything.

    But those benefits only accrue if we get our message across – not just to the modern descendants of those top-hatted bankers, but to the public at large. And that’s where we need all of you in this room. Because, let’s face it, central bankers globally have had a mixed track record historically when it came to clear and effective communications – even when they were trying. Back in 2017, Andy Haldane – then Chief Economist of the Bank of England – estimated the minimum reading age required for a range of public communications, including central bank publications, the Economist, Elvis Presley’s lyrics and Donald Trump’s speeches. He found that Trump’s speeches could be understood by three-quarters of the population, and Elvis’s lyrics by only slightly less. But the complexity of most central banking communications at that time meant they could reach at most only 10 per cent of the public. That is no basis for building broad-based trust, credibility and understanding.

    It was clear we could do better – and we are. Research from the European Central Bank (ECB) shows that its current President, Christine Lagarde, uses language that is far more widely comprehensible than her predecessors, on Haldane’s measures. Similarly, the approach adopted by our own Governor, Michele Bullock, at the RBA’s new press conferences has won widespread praise for its clarity and simplicity.

    But the fact is that most people still hear about us through you. Despite the increasingly fractured landscape of social media and on-demand streaming, overwhelmingly the dominant source of information about central bank policy remains the good old press, TV and radio. So we need your skills as translators and explainers.

    More importantly still, we need your challenge. As public officials, knowing your analysis has to withstand public scrutiny drives an enormous lift in the quality and robustness of that analysis. I saw that up close at the Bank of England in the 1990s when we first embraced real transparency. Poor arguments, which once went unquestioned in grey smoke-filled rooms, did not survive the rigour of public examination. So, whatever may have been alleged in some quarters, both I and the RBA strongly welcome challenge, scrutiny and debate.

    Of course, it’s sometimes less fun when robust press scrutiny bleeds over from the purely technocratic to the personal. That’s certainly familiar to someone, like me, who comes from a country whose press managed to summarise a particularly salacious episode in the central bank’s life as ‘It’s the Bonk Of England’, filmed a live runoff between a recent prime minister and a decaying lettuce, and followed the Bank of England Governor to the office every day for a week during Covid in a somewhat confused attack on the Bank’s policy on working from home. Some past RBA Governors have had to face similar treatment.

    But all of us in public life must – and do – recognise the privilege that comes with our roles, and the accountability we owe, via you, to the public at large. So I want to thank you – not just for the vital role you play in helping to explain the complexities of economic policy, but also for your informed scrutiny and challenge, which forces us to raise our game and stay accountable for the huge powers we wield. If the cleansing effect of transparency is to continue to be effective, so must your role.

    With that, let me turn to my main task here today, which is to announce the finalists for the 2024 Walkley Business Journalism Award. The goal of these Awards is to encourage journalists to pursue rigorous and fearless reporting in the field of business, economics and finance. And they have certainly met that brief this year!

    And with that I look forward to our discussion here today. Thank you.

    MIL OSI News –

  • MIL-OSI Economics: TMG and Huawei join forces to offer AI Cloud Services for the first time in Egypt Oct 08, 2024

    Source: Huawei

    Headline: TMG and Huawei join forces to offer AI Cloud Services for the first time in Egypt
    Oct 08, 2024

    [Shenzhen, China, October 8, 2024] Huawei has partnered with Egypt’s Talaat Moustafa Group (TMG) to build and deploy cutting-edge AI-powered cloud technology for the first time in the Egyptian market.
    Under the agreement, signed in Shenzhen, China, TMG will leverage Huawei’s advanced cloud technologies in building and developing cloud data centers and AI technologies, providing a wide range of advantages in the Noor City project. This technology is an ideal option for smart city development as it will rely on scalable infrastructure, real-time data analytics, and seamless connectivity.
    TMG plans to offer comprehensive cloud services to the Egyptian market through “NOOR Cloud” and through the partnership will seek to meet the diverse needs of various urban communities with first-to-market cloud solutions.
    Mohamed Hisham Talaat Moustafa, Chief Recurring Income Officer at TMG, said: “We are thrilled to announce a strategic agreement with Huawei to develop a cutting-edge cloud aimed at providing essential services to the market. TMG will be leading the market by embracing cloud technology. TMG cloud-enabled applications will not only drive economic growth but also create new opportunities for innovation across industries, offering services to customers. By leveraging advanced technology, we aim to lead the market and empower businesses to thrive in a competitive landscape. Together, we will open doors to a future of limitless possibilities and drive transformative change.”
    Mohamed Salah, VP of Intelligent Cities – Recurring Income at TMG, added: “We are entering a transformative era in Egypt’s urban development. Our collaboration with Huawei is not merely about implementing technology; it’s about reimagining urban living to meet the needs of our communities. By integrating innovative and sustainable solutions, we are establishing new benchmarks for real estate development. Together, we are committed to creating smart cities that stimulate economic growth and foster resilient communities throughout the country.”
    Hank Chen, Vice President of Huawei Government Public Services Digitalization Business said, “Cloud technology is a game-changer for smart city development, offering unparalleled opportunities for cities to thrive in the digital era. By embracing Cloud, cities can fully unlock the potential of cloud technology to create a better future for urban living.”
    Commenting on the agreement, Felix Xu, CEO of Huawei Egypt Enterprise Business Group, said: “By expanding our partnership with TMG, we are committed to supporting their vision of a smart city that is not only technologically advanced but also sustainable, inclusive, and future-proof. Our comprehensive portfolio of cutting-edge products and technologies, including robust cloud services, next-generation networks, scalable storage solutions, and intelligent AI large models, positions us to support TMG in realizing their vision to transform cities into smarter, more connected environments, ensuring optimal performance and reliability of their infrastructure.”
    The new collaboration between Huawei and TMG builds on their longstanding partnership in developing cutting-edge smart cities and sustainable communities. By leveraging their combined expertise, TMG and Huawei aim to redefine the standards for urban development and digital innovation in Egypt.

    MIL OSI Economics –

  • MIL-OSI Economics: TMG and Huawei join forces to offer AI Cloud Services for the first time in Egypt

    Source: Huawei

    Headline: TMG and Huawei join forces to offer AI Cloud Services for the first time in Egypt

    [Shenzhen, China, October 8, 2024] Huawei has partnered with Egypt’s Talaat Moustafa Group (TMG) to build and deploy cutting-edge AI-powered cloud technology for the first time in the Egyptian market.
    Under the agreement, signed in Shenzhen, China, TMG will leverage Huawei’s advanced cloud technologies in building and developing cloud data centers and AI technologies, providing a wide range of advantages in the Noor City project. This technology is an ideal option for smart city development as it will rely on scalable infrastructure, real-time data analytics, and seamless connectivity.
    TMG plans to offer comprehensive cloud services to the Egyptian market through “NOOR Cloud” and through the partnership will seek to meet the diverse needs of various urban communities with first-to-market cloud solutions.
    Mohamed Hisham Talaat Moustafa, Chief Recurring Income Officer at TMG, said: “We are thrilled to announce a strategic agreement with Huawei to develop a cutting-edge cloud aimed at providing essential services to the market. TMG will be leading the market by embracing cloud technology. TMG cloud-enabled applications will not only drive economic growth but also create new opportunities for innovation across industries, offering services to customers. By leveraging advanced technology, we aim to lead the market and empower businesses to thrive in a competitive landscape. Together, we will open doors to a future of limitless possibilities and drive transformative change.”
    Mohamed Salah, VP of Intelligent Cities – Recurring Income at TMG, added: “We are entering a transformative era in Egypt’s urban development. Our collaboration with Huawei is not merely about implementing technology; it’s about reimagining urban living to meet the needs of our communities. By integrating innovative and sustainable solutions, we are establishing new benchmarks for real estate development. Together, we are committed to creating smart cities that stimulate economic growth and foster resilient communities throughout the country.”
    Hank Chen, Vice President of Huawei Government Public Services Digitalization Business said, “Cloud technology is a game-changer for smart city development, offering unparalleled opportunities for cities to thrive in the digital era. By embracing Cloud, cities can fully unlock the potential of cloud technology to create a better future for urban living.”
    Commenting on the agreement, Felix Xu, CEO of Huawei Egypt Enterprise Business Group, said: “By expanding our partnership with TMG, we are committed to supporting their vision of a smart city that is not only technologically advanced but also sustainable, inclusive, and future-proof. Our comprehensive portfolio of cutting-edge products and technologies, including robust cloud services, next-generation networks, scalable storage solutions, and intelligent AI large models, positions us to support TMG in realizing their vision to transform cities into smarter, more connected environments, ensuring optimal performance and reliability of their infrastructure.”
    The new collaboration between Huawei and TMG builds on their longstanding partnership in developing cutting-edge smart cities and sustainable communities. By leveraging their combined expertise, TMG and Huawei aim to redefine the standards for urban development and digital innovation in Egypt.

    MIL OSI Economics –

  • MIL-OSI New Zealand: Name Release, Fatal crash, Tuamarina

    Source: New Zealand Police (District News)

    Police can now release the name of one of the young men who died following a single vehicle crash on SH1, Tuamarina, 1:45am Sunday 6 October.

    He was 19-year-old Brayden Charles Allen of Picton, Marlborough.

    Police would like to extend our deepest sympathies to the family of the deceased

    Enquiries into the circumstances of the crash are ongoing.

    A statement from Brayden’s family below: 

    We are heartbroken to announce the tragic passing of our beloved Brayden Charles Allen early Sunday morning. Brayden was the cherished son of Scott Allen and Erin Ellis and was also deeply loved by stepdad Zane Ellis and stepmum Jocelyne Allen.

    He was the most fun-loving, out-of-this-world character who truly lived life to the fullest, and his loss is incomprehensible to us all. The love between a parent and a child is beyond measure, and Brayden filled his parents’ lives with joy, laughter, and endless love. The loss of a child is a pain no parent should ever bear, and the grief we feel is overwhelming and unimaginable. Brayden’s life was a light in all our lives, and that light will forever remain in our hearts.

    Brayden’s bond with his younger brother Ajani was nothing short of extraordinary. They shared a connection that was deep, unshakable, and uniquely their own. Their relationship was built on love, understanding, and a shared sense of adventure. It was as if the two brothers had their own language, a silent connection that was felt by everyone around them.

    Whether they were exploring the outdoors or simply enjoying each other’s company, the bond between them was unbreakable. Brayden was more than just a big brother to Ajani—he was his protector, his best friend, and his biggest supporter.

    It was the kind of brotherly love that could never be explained but always felt deeply by those around them. It was a bond so special and strong, the love they shared was unexplainable but undeniably powerful. Their closeness was a joy to witness, a reflection of Brayden’s huge heart and his devotion to those he loved.

    Brayden passionately embraced the outdoors and lived every moment to the extreme with his adoring sidekick Busta. His adventurous spirit and love for life were infectious, making every moment with him feel larger than life. He had a way of bringing light into any situation, and his ability to lift up others knew no bounds. His family, including his aunts Carina, Raewyn, Megan, Bronwyn, uncles Ben, Sam, David, Luke, and Bendy, Alec and his adoring grandparents Ian and Paula, Karen and Phil, late Poppa, Colin and Melva, Gud, Nanna B, Daniel and Louise, Suzie and the late Jeffrey and the countless extended cousins, aunties and uncles are devastated by this unimaginable loss.

    With a heart bigger than he sometimes knew how to handle, Brayden was fiercely loyal and loving to all who were fortunate enough to know him. He was a devoted son, brother, friend, boyfriend, grandchild, and nephew, always aware of how others felt and going to the ends of the earth to make them feel wonderful.

    He was, without a doubt, a person whose joy for life and deep care for others left a mark on everyone he met. Brayden’s departure leaves an irreplaceable void in our hearts, but we are so incredibly grateful for the joy he brought into our lives. We will hold on to his memory, his love, and his adventurous spirit forever.

    Brayden’s family have requested that in lieu of flow, donations could be made to the Nelson/Marlborough rescue helicopter.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI: CORRECTION – Liqueous LP Announces $65 Million Financing Program in Nuburu Inc. (BURU), Highlighting Comprehensive Financing with Limited Dilution

    Source: GlobeNewswire (MIL-OSI)

    DOVER, Del., Oct. 07, 2024 (GLOBE NEWSWIRE) — In a release issued under the same headline on Monday, October 7th by Liqueous LP, there are changes in the text. The following release removes U.S. Navy and GE Additive and corrects it to U.S. Air Force:

    Liqueous LP, a leading multi-strategy fund, focused on leveraging emerging technologies to set a new industry standard for how micro, small, and mid-market issuers access growth capital, is pleased to announce a comprehensive $65 million financing program for Nuburu Inc. (NYSE American: BURU), a trailblazer in high-power industrial blue laser technology. This financing program, structured jointly with the team at Nuburu, provides terms designed to deliver predictable, strategic, and low-cost capital while minimizing dilution, significantly exceeding Nuburu’s current market cap of approximately $2.6 million, underscoring the company’s substantial intrinsic value and transformative potential across multiple industries.

    The investment includes a $15 million direct capital injection and the establishment of a $50 million equity line of credit (ELOC), designed to accelerate Nuburu’s expansion in sectors such as e-mobility, healthcare, defense, and consumer electronics. This strategic financing solution mitigates dilution through pre-funded warrants, executed at market prices at the time of investment, allowing for possible price appreciation and flexibility across each tranche. Liqueous LP’s investment is aligned with the market value, ensuring the PIPE is funded at market price without any discounts, resets, or toxic dilutive features.

    Jacob M. Fernane, Managing Partner at Liqueous LP, commented:

    “This is a very comprehensive financing solution that provides Nuburu with predictable capital while minimizing dilution and market disruption. The financing is structured at market value with no toxic elements, ensuring our investment aligns with Nuburu’s continued success and growth. Our partnership with Nuburu reflects our strong confidence in the intrinsic value of the company’s technology and its potential to revolutionize multiple high-growth industries.”

    Under the Master Transaction Terms Agreement, Liqueous LP will provide Nuburu with immediate capital, including an initial $3 million investment via pre-funded warrants, followed by weekly capital infusions of $1.25 million until an additional $10 million is invested. Additionally, Nuburu will have access to a $50 million equity line of credit (ELOC), giving the company flexibility for future growth, including a $2.5 million convertible note that is available for immediate use.

    This financing has been structured in a way that avoids unnecessary dilution, leveraging pre-funded warrants with registration rights, while allowing the company to raise capital incrementally at market prices. This approach provides Nuburu with substantial liquidity to scale its operations while validating the company’s underlying value.

    Nuburu’s recent contracts with NASA, along with its pioneering blue laser technology and key clients including the U.S. Air Force, demonstrate the company’s growing market presence in industries that require precision and high-speed processing, such as space exploration and aerospace.

    Brian Knaley, CEO of Nuburu, added:

    “We are excited to partner with Liqueous LP in what is a significant step forward for our company. This financing continues our commitment to strengthening our balance sheet and financial position and underscores the confidence Liqueous has in our groundbreaking technology and our ability to transform key industries. The fact that this financing comes with favorable terms and limited dilution is a testament to the value both sides see in our long-term potential.”

    About Liqueous LP

    Liqueous LP is an innovative, multi-strategy fund focused on leveraging emerging technologies to provide a new industry standard for how micro, small, and mid-market issuers access growth capital. By utilizing proprietary technology and advanced risk management solutions, Liqueous delivers long-term, low-cost capital that optimizes value and mitigates risk for its portfolio companies. Liqueous specializes in bespoke financing structures including shareholder liquidity products such as REPOs, block trades, and other asset-backed instruments. To learn more, visit http://www.liqueous.com.

    About NUBURU

    Founded in 2015, NUBURU, Inc. (NYSEAM: BURU) is a developer and manufacturer of industrial blue lasers that leverage fundamental physics and its high-brightness, high-power design to produce higher quality welds and parts at a faster rate than current lasers can produce for laser welding and additive manufacturing of copper, gold, aluminum and other industrially important metals. NUBURU’s industrial blue lasers produce minimal to defect-free welds at a rate that is up to eight times faster than traditional welding methods — all with the flexibility inherent to laser processing. For more information, please visit http://www.nuburu.net.

    Forward-Looking Statements

    This press release contains forward-looking statements that involve risks and uncertainties, including those related to Liqueous LP’s and Nuburu’s financial performance and future business activities. These statements are based on current expectations and projections, but actual results may differ due to market conditions or strategic shifts. Liqueous LP is under no obligation to update these forward-looking statements except as required by law.

    Contact:
    info@liqueous.com

    The MIL Network –

  • MIL-Evening Report: Grave cleaning videos are going viral on TikTok. Are they honouring the dead, or exploiting them?

    Source: The Conversation (Au and NZ) – By Edith Jennifer Hill, Associate Lecturer, Learning & Teaching Innovation, Flinders University

    Shutterstock

    Cleaning the graves of strangers is the latest content trend taking over TikTok. But as millions tune in to watch the videos, it’s becoming clear not all of them are created equal. Two grave-cleaning creators in particular seem to reside at opposite ends of the trend.

    One of the first accounts to gain popularity for grave cleaning was @ladytaphos. This account is run by Alicia Williams, a Virginia resident who treats the graves with great dignity. Williams will often share the story of the person residing within, and acts with grace and kindness as she restores beauty to the graves.

    On the other end of the spectrum is Kaeli Mae McEwen, or @the_clean_girl, who leans into more clickbait-y tactics. McEwen is known for throwing a pink spiky ball through a graveyard and cleaning the grave it lands on. She also uses her videos to promote her own pink foamy cleaner (which at one point could be purchased via a link in her bio).

    Cleaning and death

    While Williams’ and McEwen’s videos may seem novel to some, death and cleaning have a long and varied relationship that spans time and cultures.

    Washing a loved one’s body before burial or cremation isn’t just practical – it’s a significant ritual that provides meaning during a period of grief. In certain cultures and religions it’s also a process of purification, or preparation for the afterlife.

    Much has been written about cleaning and clearing out the homes of deceased people. Family members often won’t agree on how to approach such a task. In his essay on death and objects, author Tony Birch writes about his mother clearing out his grandmother’s house.

    “My mother decided that our first task after her death was to empty out her Housing Commission flat and scrub it clean,” Birch writes.

    He first laments the move, but later recognises the value of cleaning together before sorting – and treasuring – the items his grandmother left behind.

    Grave cleaning is a practice steeped in history.
    Shutterstock

    Margaretta Magnuson’s 2017 book, The Gentle Art of Swedish Death Cleaning, is a humorous and thoughtful introduction to the Swedish movement of döstädning. The book (and subsequent reality TV series) has sparked various conversations on death and cleaning, and especially on cleaning before you yourself pass away so you don’t leave a mess for your loved ones.

    Grave cleaning can be seen as another continuation of caring for the deceased. People who decide to clean the graves of strangers may do so out of respect, or in an attempt to give them “their name back” (as names on graves become visible following the removal of debris).

    Two very different approaches

    Williams and McEwen are received quite differently by viewers. Anecdotally, viewers respond more positively to the calmer and more respectful cleaning videos by Williams, who takes time to explain the process while ensuring the correct products are used.

    Meanwhile, many find McEwen’s videos problematic and criticise her for not adhering to proper graveyard decorum. McEwen makes a spectacle of sites of mourning, such as by pretending to vacuum graves, replacing flowers placed by others and making jokes. Viewers also speculate the products she uses may cause damage to the graves.

    Perceived intent plays a role in how each creator’s content is received. While Williams focuses on respectfully restoring graves to their former glory, McEwen positions herself as the focus and merely uses the graves for content.

    A complex emotional object

    Similar to other funerary objects such as coffins and urns, graves are associated with both the person who died and the fact of their death. As such, they are emotionally complex objects that bring both strength and sadness to those left behind.

    But graves are unique also in that they are private objects of grief exposed in a public context. Anyone visiting the graveyard can view and interact with them. Does that make them “fair game” for content creators?

    Graves don’t just represent deceased loves ones. They can also act as stand-ins in their absence, becoming stone bodies of sorts. As sociologist Margaret Gibson describes in her book Objects of the Dead: Mourning and Memory in Everyday Life, “death reconstructs our experience of objects”.

    “There is the strangeness of realising that things have outlived persons, and, in this regard, the materiality of things is shown to be more permanent than the materiality of the body,” she says.

    Caring for and cleaning graves can therefore be interpreted as caring for the deceased, by extending their existence through the materiality of their resting place.

    Psychological researcher Svend Brinkmann asserts artefacts such as graves are “culturally sanctioned”, gaining “significance from a collective system of meaning”.

    In other words, we as a community create and uphold reverence for such items. This is partly why the desecration of graves is viewed as abhorrent. It is societally understood to be a desecration of the person themselves. It’s also why content creators must tread lightly.

    A reason for haunting?

    There are ways to interact with gravestones (and even create content) which acknowledge their complexity and connection to their owners.

    TikTok creator Rosie Grant (@ghostlyarchive) bakes recipes found on headstones and records the process. She has even met with the families of the deceased to make the recipes together and learn more about the people behind the engraving-worthy food.

    However, randomly cleaning the graves of strangers is fraught territory – and rife with potential privacy issues. It isn’t clear whether McEwen seeks permission from loved ones before cleaning graves, but contextually this seems unlikely.

    Recent discussions have also uncovered questionable editing in her videos. Some graves in her before-and-after videos have been edited to appear cleaner and to have their structure altered. McEwen’s pink foaming cleaner also appears to be a blue cleaner edited to appear pink, raising even more questions about intent and responsibility.

    While McEwen claims to be “honouring” lives by cleaning “final resting places”, the consensus from viewers is her actions are dishonourable. As one host commented on a in podcast discussing McEwen cleaning a baby’s grave while speaking in a kiddish voice: “Fuck you, you’re going to get haunted.”

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

    – ref. Grave cleaning videos are going viral on TikTok. Are they honouring the dead, or exploiting them? – https://theconversation.com/grave-cleaning-videos-are-going-viral-on-tiktok-are-they-honouring-the-dead-or-exploiting-them-240553

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Economics: Money Market Operations as on October 07, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,23,299.71 6.23 1.93-6.50
         I. Call Money 11,161.74 6.43 5.10-6.50
         II. Triparty Repo 3,51,569.00 6.20 6.11-6.31
         III. Market Repo 1,59,200.97 6.30 1.93-6.45
         IV. Repo in Corporate Bond 1,368.00 6.40 6.40-6.48
    B. Term Segment      
         I. Notice Money** 313.50 6.34 5.95-6.50
         II. Term Money@@ 432.25 – 6.50-7.20
         III. Triparty Repo 150.00 6.32 6.32-6.32
         IV. Market Repo 399.99 6.47 6.30-6.65
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Mon, 07/10/2024 4 Fri, 11/10/2024 36,825.00 6.49
    3. MSF# Mon, 07/10/2024 1 Tue, 08/10/2024 2,730.00 6.75
    4. SDFΔ# Mon, 07/10/2024 1 Tue, 08/10/2024 89,452.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -123,547.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo Fri, 04/10/2024 14 Fri, 18/10/2024 44,275.00 6.49
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       6,850.74  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -33,884.26  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -157,431.26  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on October 07, 2024 10,27,404.10  
         (ii) Average daily cash reserve requirement for the fortnight ending October 18, 2024 10,01,756.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 07, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on September 20, 2024 4,18,318.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad            
     Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1243

    MIL OSI Economics –

  • MIL-OSI Economics: Targeted Policies for Digital Creative Industries Can Drive Economic Growth in Asia and Pacific

    Source: Asia Development Bank

    MANILA, PHILIPPINES (8 October 2024) — Coherent national strategies that develop talent and expand digital creative industries can help developing countries tap into the global creative economy, generating high-quality jobs that contribute to economic growth, according to a new report published today by the Asian Development Bank (ADB).

    “Digital disruption of creative industries can present huge economic potential in Asia and the Pacific,” said ADB Director General for Climate Change and Sustainable Development Bruno Carrasco about the launch of A Review of Digital Creative Industries in Asia: Opportunities and Policies to Foster Growth and Create High-Quality Jobs.

    “Yet the policy environment does not always allow creatives to thrive and connect with the global value chain,” added Mr. Carrasco. “This report can help industry and policy makers shape Asia and the Pacific’s digital creative industries, foster opportunities to bridge the region’s rich cultural heritage with the rest of the world and drive economic growth.”

    Based on more than 40 interviews with key individuals across India, Indonesia, Thailand, and Viet Nam—including with industry associations and creative professionals in the film, gaming and music industries—the report highlights opportunities for emerging countries to boost their digital creative industries, assess domestic talent development, and encourage policies that create high-quality jobs.

    While there is strong demand from global entertainment companies to produce local content and work with local talent, there are not enough skilled local producers, screenwriters, and programmers. To address this, the report recommends that governments and industry define the essential knowledge and skills required to perform different creative roles, build lifelong training systems, incentivize businesses to upskill their workers, and improve creative industry working standards.

    Such long-term strategies have helped creative powerhouses—such as Canada, the Republic of Korea, Singapore, and the United Kingdom—to grow their domestic talent pools and attract foreign investment. The report distills key lessons from these countries that can help guide policymakers aiming to develop creative industries.

    Another barrier identified is a severe lack of funding in the four countries examined in South and Southeast Asia. This limits the potential for local film producers, game developers, and musicians to grow, even as high-speed internet, streaming platforms, and portable devices have enabled them to reach much wider audiences.

    Establishing structured funding facilities, including loans, credit guarantees, grants, and venture capital financing, can transform creative ideas into concrete projects, according to the report. With sufficient support from the government or through public–private collaboration, these businesses can be provided with a financial safety net to innovate.

    The report was produced with support from Netflix, the video entertainment streaming service. As ADB’s knowledge partner, Netflix provided experts to be interviewed for the report and enabled access to key stakeholders in the digital creative industry. The work on the report is part of the two organizations’ ongoing collaboration to generate knowledge and boost Asia and the Pacific’s creative industries.
        
    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

    MIL OSI Economics –

  • MIL-OSI Economics: Additional ADB Grant to Strengthen Energy Security in Central Asia

    Source: Asia Development Bank

    DUSHANBE, TAJIKISTAN (8 October 2024) — The Asian Development Bank (ADB) has approved additional grant financing of $15 million to help Tajikistan scale up an ongoing project to reconnect the country’s power system to the Central Asian Power System (CAPS) through interconnections with neighboring Uzbekistan.

    “Through the Central Asia Regional Economic Cooperation (CAREC) program, ADB actively promotes regional power trade among countries in Central Asia and beyond,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “Our support improves the sustainability of the regional power system and helps reduce greenhouse gas emissions in the region.”

    The additional financing will construct a new 22 kilometer, 500-kilovolt transmission line in northern Tajikistan—between the country’s Sughd substation and the New Syrdarya substation in Uzbekistan. It will scale up the transmission capacity for power exports and imports among CAPS countries, which include Kazakhstan, the Kyrgyz Republic, Tajikistan, and Uzbekistan, and strengthen infrastructure to prevent grid failures which lead to blackouts.

    The project will also help ensure Tajikistan’s power system is ready to provide regulating capacity for the smooth integration of renewable energy in the region. In the long term, it will become a key component of the power evacuation scheme for the Rogun hydropower plant in Tajikistan.

    Tajikistan joined ADB in 1998. For 26 years, ADB has supported a wide range of sectors from strategic road and energy infrastructure to health, education, agriculture, urban development, public sector management and finance for a total of over $2.7 billion in assistance—including over $2.1 billion in grants.

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

    MIL OSI Economics –

  • MIL-OSI Economics: New ADB Country Director for Azerbaijan Assumes Office

    Source: Asia Development Bank

    BAKU, AZERBAIJAN (7 October 2024) — The Asian Development Bank (ADB) has appointed Sunniya Durrani-Jamal as its new Country Director for Azerbaijan. She joined the Azerbaijan Resident Mission today to officially commence her role.

    Ms. Durrani-Jamal will lead ADB’s operations in Azerbaijan and manage the bank’s relationships with the government and other stakeholders. She will oversee the preparation and implementation of the bank’s new country partnership strategy (CPS). The new CPS will build on ADB’s existing work in Azerbaijan, and its strategic focus areas will be aligned with the government’s development strategy and ADB’s Strategy 2030.

    “It is an honor to lead ADB’s efforts in Azerbaijan, a country of rich culture and significant economic potential,” said Ms. Durrani-Jamal. “My priority is to extend ADB’s enduring collaboration with the government, help diversify the economy and improve the quality of life for people in Azerbaijan. This includes expanding renewable energy, addressing climate change, and helping the Caucasus nation transition to a private-sector-led green economy.”

    Azerbaijan’s 10-year development strategy, Azerbaijan 2030: National Priorities for Socio-Economic Development, outlines the country’s ambitions to develop a sustainable and competitive economy, foster an inclusive society, improve human capital, transition to green growth, and improve infrastructure.

    As Asia and the Pacific’s climate bank, ADB is also supporting Azerbaijan’s Presidency of COP29, including via capacity building ahead of the landmark United Nations climate summit set to take place in Baku next month

    Ms. Durrani-Jamal has more than 25 years’ professional experience, including 16 years with ADB where she has held key senior roles. These include country director for Cambodia, senior advisor to ADB’s vice president for east Asia, southeast Asia, and the pacific; and senior economist.

    Ms. Durrani-Jamal holds a master’s degree in economics (human development) from the University of Sussex, United Kingdom, and a master of science in economics (monetary policy) from Quaid-i-Azam University, Pakistan. She succeeds outgoing Country Director Candice McDeigan who held this position from 2021.

    Since Azerbaijan joined the bank in 1999, ADB has committed more than $5 billion in sovereign and private sector assistance, including in transport, energy, health care, and agriculture.

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

    MIL OSI Economics –

  • MIL-OSI Economics: RBI to conduct 3-day Variable Rate Reverse Repo (VRRR) auction under LAF on October 08, 2024

    Source: Reserve Bank of India

    On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 08, 2024, Tuesday, as under:

    Sl. No. Notified Amount
    (₹ crore)    		 Tenor
    (day)    		 Window Timing Date of Reversal
    1 50,000 3 11:00 AM to 11:30 AM October 11, 2024
    (Friday)

    2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1244

    MIL OSI Economics –

  • MIL-Evening Report: Productivity is often mistaken for wages. What does it really mean? How does it work?

    Source: The Conversation (Au and NZ) – By David Peetz, Laurie Carmichael Distinguished Research Fellow at the Centre for Future Work, and Professor Emeritus, Griffith Business School, Griffith University

    Alexey_Rezvykh/Shutterstock

    Australia’s productivity growth has reverted to the same stagnant pattern as before the pandemic, according to the Productivity Commission’s latest quarterly report.

    Productivity is complex and often misunderstood in media and policy debates. So before we read too much into this latest data, here are six key things to understand about productivity.

    1. It’s about quantities, not costs

    Productivity “measures the rate at which output of goods and services are produced per unit of input”. So it’s about how many workers does it take to make how many widgets?

    Most Australian workplace managers don’t know how to measure productivity correctly.

    If someone says “higher wages mean lower productivity”, they don’t know what they’re talking about. Wages aren’t part of the productivity equation. People often cite “productivity” as a reason for a policy they like because they can’t say “we like higher profits”.

    In fact, high wages can encourage firms to introduce new technology that improves productivity. If labour becomes more expensive, it may be more profitable for firms to invest in labour-saving technology.

    But lower productivity isn’t always a bad thing. Sometimes higher selling prices can lower productivity. It seems odd, but works like this: if prices for commodities such as iron ore or coal are high, it becomes profitable for mining companies to dig through more rock to get to it.

    This takes more time. But it’s now worth extracting these small quantities, because they’re so valuable. For this reason, with high commodity prices, mining labour productivity fell by 13% between 2019-20 and 2022-23. Mining productivity had the largest negative impact on national productivity growth in 2022-23.

    2. Productivity is directed by management, not workers

    The biggest single factor that shapes productivity is technology. Who’s responsible for what technology a business introduces? Management. Workers often don’t have much of a say.

    OECD research suggests new technology such as artificial intelligence (AI) meets lower resistance from employees when they are consulted over its introduction. That’s because new technology makes their firms more competitive and they want to keep their jobs.

    Not surprisingly, there’s lots of research showing management that engages and consults workers gets greater output.

    Output will also be better with an educated and skilled workforce. If people can do more things with their brains, they’ll be more productive.

    3. Measuring productivity is dodgier the more complex it gets

    Measuring labour productivity – output per unit of labour input – is fairly straightforward if you’ve got a single output that is sold in a free market, and you’re looking at a single input (labour). It’s not hard to measure, or describe, the number of cars produced per worker in a week.

    It gets very tricky when you’re looking at multi-factor productivity (output per unit of, say, labour-and-capital input). Economists can’t even describe the denominator. (What even is a unit of “labour-and-capital”?) So they express what they measure as an index (giving it a value of 100 in some base year). All sorts of bold assumptions get made.

    Estimates are highly creative. In its report, the Productivity Commission looked at revisions to quarterly growth figures and found productivity estimates are “constantly being revised”.

    On almost a third of occasions, initial estimates are out by 0.5 percentage points or more. When your estimate is that productivity increased by 0.5% – the number for the year to this June quarter – the potential for error is huge.

    Even more creative assumptions are made when you try to measure productivity in the public sector, when the market is not the aim.

    Productivity is higher in classrooms when there are fewer teachers per student. At least, the bean-counters will tell you that, but the students will tell you the opposite.

    So you should be very wary when someone says the “productivity challenge is […] greater and more pressing in the non-market sector”, when the meaning is so contested.

    4. It is best measured over long periods

    Productivity growth is so erratic, that you can tell very little from one quarter’s figures. “Revise, revise, revise again”, as the PC report said.

    Often the best thing to do, as the Australian Bureau of Statistics recognised long ago is to average it over the whole of a “growth cycle”, that is, between one peak of growth and the next.

    Trouble is, growth cycles vary in length, and the end point is not easy to pick when it happens, only later.

    Growth averaged over a long period is a lot more meaningful than growth measured over a short period. At least the Productivity Commission showed five-year averages alongside it’s latest quarterly estimates. But chances are your start date will be at a different stage in the growth cycle to your end date, so it’s not that good a measure.

    5. Productivity is falling here and overseas

    In Australia, productivity growth has been on a long-term decline since the 1960s, with a brief, unsustained upturn in the mid 1990s.

    That pattern gives pause for thought: if big reforms to competition policy, industrial relations and wage fixing were aimed at improving productivity growth, why was that unsustainable, and why did it then continue to decline? It pays to remember that a lot of reforms people advocate in the name of productivity growth have quite different aims and effects anyway.

    Internationally, the picture is not much different.

    Productivity growth across industrialised countries has unevenly but gradually declined since the 1950s and 1960s. The world-wide adoption of what were often called neoliberal reforms from the 1980s failed to improve productivity growth.

    6. Productivity growth once drove living standards. Not any more

    In theory, higher labour productivity enables higher living standards. In practice, that is driven by the ability of workers to negotiate for higher wages.

    It depends on how you measure it and what years you focus on, but from at least the early 2010s, productivity growth was much faster than hourly compensation per employee.

    Again, it’s not just Australia. The OECD calls this the “decoupling” of wages and productivity.

    Just because something can increase potential earnings growth, it does not follow that it will.

    As a university employee and since then, David Peetz has undertaken research over many years with occasional financial support from governments from both sides of politics, employers and unions. He has been and is involved in several Australian Research Council-funded and approved projects, some of which included contributions from an employer body, a superannuation fund, and two unions. The projects do not concern the subject matter of this article.

    – ref. Productivity is often mistaken for wages. What does it really mean? How does it work? – https://theconversation.com/productivity-is-often-mistaken-for-wages-what-does-it-really-mean-how-does-it-work-240113

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Final result of the subsequent offer period of Onni Bidco Oy’s voluntary recommended public cash tender offer for all the shares in Innofactor Plc

    Source: GlobeNewswire (MIL-OSI)

    Innofactor Plc          Stock Exchange Release         October 8, 2024 at 8:35 a.m. (EEST)

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER WOULD BE PROHIBITED BY APPLICABLE LAW. FOR FURTHER INFORMATION, PLEASE SEE SECTION ENTITLED “IMPORTANT INFORMATION” BELOW.

    Final result of the subsequent offer period of Onni Bidco Oy’s voluntary recommended public cash tender offer for all the shares in Innofactor Plc

    As announced on July 22, 2024, CapMan Growth Equity Fund III Ky, a fund managed by CapMan Group affiliated companies, (“CapMan Growth”), Sami Ensio, the founder, CEO and member of the Board of Directors of Innofactor Plc, through the holding company Ensio Investment Group Oy controlled by him, and the co-investor Osprey Capital Oy (“Osprey Capital”) form a consortium (the “Consortium”) for the purposes of the voluntary recommended public cash tender offer for all the issued and outstanding shares in Innofactor Plc (“Innofactor” or the “Company”) that are not held by Innofactor or its subsidiaries (the “Shares”) (the “Tender Offer”), made by Onni Bidco Oy (the “Offeror”), a private limited liability company incorporated and existing under the laws of Finland. The Offeror has on August 2, 2024, published the tender offer document concerning the Tender Offer. The original offer period for the Tender Offer commenced on August 5, 2024, at 9:30 a.m. (Finnish time) and expired on September 16, 2024, at 4:00 p.m. (Finnish time) (the “Original Offer Period”). The Offeror announced on September 19, 2024 in connection with the announcement of the final result of the Original Offer Period, that it will complete the Tender Offer and commence a subsequent offer period in accordance with the terms and conditions of the Tender Offer, which commenced  on September 19, 2024, at 9:30 a.m. (Finnish time) and expired on October 3, 2024, at 4:00 p.m. (Finnish time) (the “Subsequent Offer Period”).

    Based on the final result of the Subsequent Offer Period, the 914,649 Shares tendered during the Subsequent Offer Period represent approximately 2.56 percent of the Shares and voting rights in Innofactor. Together with the Shares validly accepted during the Original Offer Period and the Shares otherwise acquired or to be acquired by the Offeror (comprising 148,127 Shares that Sami Ensio has received as board remuneration), the Shares tendered during the Subsequent Offer Period represent approximately 85.05 percent of the Shares and voting rights in Innofactor.

    The offer price will be paid on or about October 10, 2024, to shareholders who have validly accepted the Tender Offer during the Subsequent Offer Period in accordance with the terms and conditions of the Tender Offer. The offer price will be paid in accordance with the payment procedures described in the terms and conditions of the Tender Offer. The actual time of receipt of the payment by each shareholder will depend on the schedule for payment transactions between financial institutions.

    The Offeror has reserved the right to acquire Shares on or after the date of this release in public trading on Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) or otherwise to the extent permitted by applicable laws and regulations.

    Investor and Media enquiries:

    Innofactor

    Iida Suominen (Innofactor), ir@innofactor.com, +358 40 716 7173

    Lasse Lautsuo (Innofactor), ir@innofactor.com, +358 50 480 1597

    For further information, please visit the dedicated website at https://www.innofactor.com/invest-in-us/onni-tender-offer/.

    The Consortium

    Antti Kummu, CapMan Growth

    +358 50 432 4486

    Media

    press.contact@miltton.com

    +358 45 788 51840

    For further information, please visit the dedicated website at: https://innofactor.tenderoffer.fi/en/pto/. The link does not redirect to Innofactor’s website, but to a website operated by the Offeror.

    Distribution:

    NASDAQ Helsinki
    Main media
    http://www.innofactor.com

    ABOUT THE CONSORTIUM

    CapMan Growth and Sami Ensio (through the holding company controlled by him) together with Osprey Capital form the Consortium for the purposes of the Tender Offer. As at the date of this release, the Offeror is indirectly owned by Onni Topco Oy, a private limited liability company incorporated under the laws of Finland. Onni Topco Oy was incorporated to be the holding company in the acquisition structure and is currently owned by CapMan Growth. Following the completion of the Tender Offer, CapMan Growth is expected to own approximately 52.4 percent, Ensio Investment Group Oy approximately 42.6 percent and Osprey Capital approximately 5.0 percent of the shares in Onni Topco Oy.

    ABOUT INNOFACTOR

    Innofactor is the leading promoter of the modern digital organization in the Nordic countries for its approximately 1,000 customers in the commercial and public sectors. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor’s offering includes planning services for business-critical IT solutions, project deliveries, implementation support and maintenance services, as well as own software and services. Innofactor employs nearly 600 experts in Finland, Sweden, Denmark and Norway. Innofactor’s shares are listed on Nasdaq Helsinki with the ticker symbol IFA1V.

    IMPORTANT INFORMATION

    THIS RELEASE MAY NOT BE RELEASED OR OTHERWISE DISTRIBUTED, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER WOULD BE PROHIBITED BY APPLICABLE LAW.

    THIS RELEASE IS NOT A TENDER OFFER DOCUMENT AND AS SUCH DOES NOT CONSTITUTE AN OFFER OR INVITATION TO MAKE A SALES OFFER. IN PARTICULAR, THIS RELEASE IS NOT AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES DESCRIBED HEREIN, AND IS NOT AN EXTENSION OF THE TENDER OFFER, IN, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA. INVESTORS SHALL ACCEPT THE TENDER OFFER FOR THE SHARES ONLY ON THE BASIS OF THE INFORMATION PROVIDED IN A TENDER OFFER DOCUMENT. OFFERS WILL NOT BE MADE DIRECTLY OR INDIRECTLY IN ANY JURISDICTION WHERE EITHER AN OFFER OR PARTICIPATION THEREIN IS PROHIBITED BY APPLICABLE LAW OR WHERE ANY TENDER OFFER DOCUMENT OR REGISTRATION OR OTHER REQUIREMENTS WOULD APPLY IN ADDITION TO THOSE UNDERTAKEN IN FINLAND.

    THE TENDER OFFER IS NOT BEING MADE DIRECTLY OR INDIRECTLY IN ANY JURISDICTION WHERE PROHIBITED BY APPLICABLE LAW AND, WHEN PUBLISHED, THE TENDER OFFER DOCUMENT AND RELATED ACCEPTANCE FORMS WILL NOT AND MAY NOT BE DISTRIBUTED, FORWARDED OR TRANSMITTED INTO OR FROM ANY JURISDICTION WHERE PROHIBITED BY APPLICABLE LAWS OR REGULATIONS. IN PARTICULAR, THE TENDER OFFER IS NOT BEING MADE, DIRECTLY OR INDIRECTLY, IN OR INTO, OR BY USE OF THE POSTAL SERVICE OF, OR BY ANY MEANS OR INSTRUMENTALITY (INCLUDING, WITHOUT LIMITATION, FACSIMILE TRANSMISSION, TELEX, TELEPHONE OR THE INTERNET) OF INTERSTATE OR FOREIGN COMMERCE OF, OR ANY FACILITIES OF A NATIONAL SECURITIES EXCHANGE OF, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA. THE TENDER OFFER CANNOT BE ACCEPTED, DIRECTLY OR INDIRECTLY, BY ANY SUCH USE, MEANS OR INSTRUMENTALITY OR FROM WITHIN, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA AND ANY PURPORTED ACCEPTANCE OF THE TENDER OFFER RESULTING DIRECTLY OR INDIRECTLY FROM A VIOLATION OF THESE RESTRICTIONS WILL BE INVALID.

    THIS RELEASE HAS BEEN PREPARED IN COMPLIANCE WITH FINNISH LAW, THE RULES OF NASDAQ HELSINKI AND THE HELSINKI TAKEOVER CODE AND THE INFORMATION DISCLOSED MAY NOT BE THE SAME AS THAT WHICH WOULD HAVE BEEN DISCLOSED IF THIS RELEASE HAD BEEN PREPARED IN ACCORDANCE WITH THE LAWS OF JURISDICTIONS OUTSIDE OF FINLAND.

    Information for shareholders of Innofactor in the United States

    Shareholders of Innofactor in the United States are advised that the Shares are not listed on a U.S. securities exchange and that Innofactor is not subject to the periodic reporting requirements of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is not required to, and does not, file any reports with the U.S. Securities and Exchange Commission (the “SEC”) thereunder.

    The Tender Offer will be made for the issued and outstanding shares of Innofactor, which is domiciled in Finland, and is subject to Finnish disclosure and procedural requirements. The Tender Offer is made in the United States pursuant to Section 14(e) and Regulation 14E under the Exchange Act, subject to the exemption provided under Rule 14d-1(c) under the Exchange Act, for a Tier I tender offer, and otherwise in accordance with the disclosure and procedural requirements of Finnish law, including with respect to the Tender Offer timetable, settlement procedures, withdrawal, waiver of conditions and timing of payments, which are different from those of the United States. In particular, the financial information included in this stock exchange release has been prepared in accordance with applicable accounting standards in Finland, which may not be comparable to the financial statements or financial information of U.S. companies. The Tender Offer is made to Innofactor’s shareholders resident in the United States on the same terms and conditions as those made to all other shareholders of Innofactor to whom an offer is made. Any informational documents, including this stock exchange release, are being disseminated to U.S. shareholders on a basis comparable to the method that such documents are provided to Innofactor’s other shareholders.

    To the extent permissible under applicable law or regulations, the Offeror and its affiliates or its brokers and its brokers’ affiliates (acting as agents for the Offeror or its affiliates, as applicable) may from time to time after the date of this stock exchange release and during the pendency of the Tender Offer, and other than pursuant to the Tender Offer, directly or indirectly purchase or arrange to purchase Shares or any securities that are convertible into, exchangeable for or exercisable for Shares. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. To the extent information about such purchases or arrangements to purchase is made public in Finland, such information will be disclosed by means of a press release or other means reasonably calculated to inform U.S. shareholders of Innofactor of such information. In addition, the financial adviser to the Offeror may also engage in ordinary course trading activities in securities of Innofactor, which may include purchases or arrangements to purchase such securities. To the extent required in Finland, any information about such purchases will be made public in Finland in the manner required by Finnish law.

    Neither the SEC nor any U.S. state securities commission has approved or disapproved the Tender Offer, passed upon the merits or fairness of the Tender Offer, or passed any comment upon the adequacy, accuracy or completeness of the disclosure in relation to the Tender Offer. Any representation to the contrary is a criminal offence in the United States.

    The receipt of cash pursuant to the Tender Offer by a U.S. holder of Shares may be a taxable transaction for U.S. federal income tax purposes and under applicable U.S. state and local, as well as foreign and other, tax laws. Each holder of Shares is urged to consult its independent professional advisers immediately regarding the tax and other consequences of accepting the Tender Offer.

    To the extent the Tender Offer is subject to U.S. securities laws, those laws only apply to U.S. holders of Shares and will not give rise to claims on the part of any other person. It may be difficult for Innofactor’s shareholders to enforce their rights and any claims they may have arising under the U.S. federal securities laws, since the Offeror and Innofactor are located in non-U.S. jurisdictions and some or all of their respective officers and directors may be residents of non-U.S. jurisdictions. Innofactor shareholders may not be able to sue the Offeror or Innofactor or their respective officers or directors in a non-U.S. court for violations of the U.S. federal securities laws. It may be difficult to compel the Offeror and Innofactor and their respective affiliates to subject themselves to a U.S. court’s judgment.

    Forward-looking statements

    This release contains statements that, to the extent they are not historical facts, constitute “forward-looking statements”. Forward-looking statements include statements concerning plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, competitive strengths and weaknesses, plans or goals relating to financial position, future operations and development, business strategy and the trends in the industries and the political and legal environment and other information that is not historical information. In some instances, they can be identified by the use of forward-looking terminology, including the terms “believes”, “intends”, “may”, “will” or “should” or, in each case, their negative or variations on comparable terminology. By their very nature, forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. Given these risks, uncertainties and assumptions, investors are cautioned not to place undue reliance on such forward-looking statements. Any forward-looking statements contained herein speak only as at the date of this release.

    Disclaimer

    Carnegie Investment Bank AB (publ), which is authorised and supervised by the Swedish Financial Supervisory Authority (Finansinspektionen), is acting through its Finland Branch (“Carnegie”). The Finland branch is authorised by the Swedish Financial Supervisory Authority and subject to limited supervision by the Finnish Financial Supervisory Authority (Finanssivalvonta). Carnegie is acting exclusively for the Offeror and no one else in connection with the Tender Offer and the matters set out in this release. Neither Carnegie nor its affiliates, nor their respective partners, directors, officers, employees or agents are responsible to anyone other than the Offeror for providing the protections afforded to clients of Carnegie, or for giving advice in connection with the Tender Offer or any matter or arrangement referred to in this release.

    Advium Corporate Finance Ltd. is acting exclusively on behalf of Innofactor and no one else in connection with the Tender Offer or other matters referred to in this release, does not consider any other person (whether the recipient of this release or not) as a client in connection to the Tender Offer, and is not responsible to anyone other than Innofactor for providing protection or providing advice in connection with the Tender Offer or any other transaction or arrangement referred to in this release.

    The MIL Network –

  • MIL-OSI: Sampo plc’s share buybacks 7 October 2024

    Source: GlobeNewswire (MIL-OSI)

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

    Sampo plc’s share buybacks 7 October 2024

    On 7 October 2024, Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI4000552500) as follows:                

    Sampo plc’s share buybacks Aggregated daily volume (in number of shares) Daily weighted average price of the purchased shares* Market (MIC Code)
      4,177 41.13 AQEU        
      44,885 41.21 CEUX
      1,123 41.25 TQEX
      43,707 41.17 XHEL
    TOTAL 93,892 41.19  

    *rounded to two decimals                

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

    After the disclosed transactions, the company owns in total 8,131,614 Sampo A shares representing 1.48 per cent of the total number of shares in Sampo plc, taking the issuance of shares on 16 September 2024 into account.

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

    On behalf of Sampo plc,
    Morgan Stanley

    For further information, please contact:

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

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

    Attachment

    The MIL Network –