NewzIntel.com

Category: Business

  • MIL-OSI Africa: Business confidence in South Africa: how a 70-year-old survey has given early signals of the economy’s pulse

    Source: The Conversation – Africa – By Johann Kirsten, Director of the Bureau for Economic Research, Stellenbosch University

    Business tendency surveys provide very useful indicators of trends within an economy. The information is available well before the official statistics, such as GDP growth, and provides insights into business dynamics that cannot be found elsewhere.

    For 70 years the Bureau for Economic Research at South Africa’s Stellenbosch University has been conducting business tendency surveys. Indeed, South Africa remains one of the few countries where these surveys are conducted by a non-state agency.

    The surveys cover a range of questions, tracking everything from activity to demand, selling prices to inventories, investment and also the constraints holding back investment. But the most important question is very simple: are you satisfied with prevailing business conditions? Respondents can only respond with a yes or a no. There is no scale, no maybe, no but. It is a pure gut feeling. This is the only true measure of business sentiment in South Africa.

    While it can be argued that at times of fast production growth sentiment is more upbeat (and vice versa during a recession), sentiment typically turns before you see production growth. Respondents to Bureau for Economic Research surveys know their business like the palm of their hand. They sense when something starts changing and know when they can turn cautiously optimistic about conditions even though activity is not there (yet). As illustrated in the figure below, confidence often turns before the business cycle phase changes from an upward to a downward phase (and the other way around).

    Changes in sentiment tell us a lot about investment intentions, as well as the potential for faster economic growth and job creation in the economy. If business people in South Africa are downbeat about business conditions, it is near impossible to see growth accelerate. Why build a new factory or employ workers if you are not, at the very least, satisfied with the environment you have to operate in today?

    While the survey process has changed over the past seven decades, the value of the insights has not. South Africa’s new government of national unity has promised to tackle the country’s structural constraints, with reforms aimed at improving electricity, infrastructure, water and logistics. By providing a reliable measure of sentiment, the survey will go a long way in assessing whether they are successful.

    Business confidence ahead of economic shifts

    While we survey a range of sectors, only the responses of a specific set of sectors are compiled into the so-called composite Business Confidence Index. This index is sponsored by Rand Merchant Bank (RMB) and is known as the RMB/BER BCI.

    The index looks at the responses of manufacturers, retailers, wholesalers, new vehicle dealers and main building contractors. These sectors represent the productive sectors of the economy and tend to lead the rest of the economy.

    So, if something changes here, one can be fairly sure that it will soon start changing in the rest of the economy. Manufacturers, for example, have a feel for both domestic and export demand conditions, which later trickle through the rest of the economy. New vehicle dealers will be the first to know when local consumers start holding their purse strings.

    In most sectors the survey also asks respondents about constraints to business conditions. We ask the same set of questions each quarter and have been doing so for decades. This gives us a very powerful, long-term time series of data. For example, over the last ten years, manufacturers have almost consistently seen the general political climate as the most serious constraint on business conditions.

    The Absa Manufacturing Survey shows that it’s a more serious constraint than insufficient demand or the short-term interest rate, despite the latter being at the highest level in 15 years. Interestingly, the political climate constraint fell sharply in the third quarter of 2024, following the formation of the government of national unity. The disruptions at local ports were also picked up by our surveys, with load-shedding top of mind for many respondents in 2023 (and before).

    The graph below shows a long-term series of business confidence. A reading of 100 would signal extreme optimism with every respondent satisfied with business conditions – this has never happened before. A reading of zero means not a single respondent is satisfied with business conditions. This, too, has not happened before, but we did see confidence fall to just 5 index points in the second quarter of 2020, the worst of the COVID-19 lockdowns, with many businesses forced to close temporarily. The BER surveys provided invaluable information about business dynamics in the formal economy during the pandemic and the recovery.

    Figure 1: RMB/BER Business Confidence Index (BCI)

    Source: BER. Note, business cycle downswing phases as determined by the South African Reserve Bank are shaded.

    The RMB/BER BCI edged up by three index points to 38 in the third quarter of 2024. This was the first survey after the formation of the new government, and some may have hoped for a bigger boost to sentiment. Still, underlying results suggest respondents are turning cautiously more optimistic about the future. For the first time since early 2022, most respondents across the different sectors expect business conditions to improve in 12 months’ time, instead of deteriorating (further).

    Current demand conditions, however, remained tough, which held back a bigger recovery in sentiment.

    A firm commitment by the new government of national unity to continue with structural reform aimed at alleviating the constraints on the South African economy and an effort to bring down the cost of doing business (by lowering the administrative burden, for example) would go a long way in supporting a more pronounced recovery in business confidence.

    Higher confidence will translate into faster economic growth over time.

    How the index is compiled

    Taking a step back, in 1954, and for many decades after that, everything at the BER was done by hand. The surveys were sent by post, and indices were painstakingly calculated as the responses trickled in. Some graphs were even drawn up by hand. Over time, more electronics became involved. South African postal services deteriorated to such an extent that relying on them was no longer feasible.

    A copy of the 1955 business confidence survey results. Source: Bureau for Economic Research

    The little pigeonholes for the postal letters at the BER offices were removed earlier this year and all survey responses are now received via email. Responses are weighted for firm and sector size, and we try to keep the survey as representative of the sectors as possible.

    It is becoming increasingly difficult to expand our panel in a world where inboxes are flooded with fly-by-night surveys and spam. Our close relationship with international bodies such as the Centre for International Research on Economic Tendency Surveys and our academic footing as a university research institute ensures that we continue to follow global best practices.

    – Business confidence in South Africa: how a 70-year-old survey has given early signals of the economy’s pulse
    – https://theconversation.com/business-confidence-in-south-africa-how-a-70-year-old-survey-has-given-early-signals-of-the-economys-pulse-237773

    MIL OSI Africa –

  • MIL-OSI Security: 316 stolen vehicles recovered in intensification week

    Source: United Kingdom National Police Chiefs Council

    Recovered vehicles valued at over £4m in total with 180 arrests made

    • Partnership working to tackle vehicle crime
    • 180 arrests made relating to vehicle crime, including burglary
    • NaVCIS-led operations at ports recovered stolen vehicles destined for overseas

    The first intensification week as part of national policing’s Operation Alliances to tackle serious organised vehicle crime has concluded with 316 stolen vehicles recovered with an estimated value of over £4m.

    The stolen vehicles included cars, motorcycles, lorries, scrap vehicles and various vehicle parts linked to thefts were also recovered.

    Op Alliances is delivered by Opal, policing’s national intelligence team for serious organised acquisitive crime, and brought together a number of organisations working in partnership with policing to stem the flow of stolen vehicles leaving the UK and support enforcement action at ports.

    Vehicle crime is on the increase, with the National Vehicle Crime Intelligence Service (NaVCIS) recording a 29 per cent increase in vehicles identified at ports in the second quarter of 2024. There’s evidence from Opal’s analysis that vehicle crime forms a large part of serious organised acquisitive crime, presenting a significant risk which damages communities and industry.

    Op Alliances is policing’s targeted approach to tackling this criminality with partners including NaVCIS, the Ports Police, Home Office, Border Force, manufacturers, Europol, Interpol, the National Crime Agency and many others (see full list in notes to editors).

    Activity took place across nine different ports, acting on intelligence to locate stolen vehicles and parts destined for overseas markets.

    Police forces across England and Wales took part in the week, engaging with local communities to offer crime prevention advice and initiatives to support vehicle owners in keeping their vehicles safe, as well as encouraging reporting of thefts. 180 arrests were made across the country for vehicle crime-related offences, including burglary and theft of car keys which is an increasingly common tactic used by criminals.

    Forces conducted multiple search warrants, locating and closing down a number of ‘chop shops’, (locations where stolen vehicles are broken down into parts) as well as engaging with scrap metal and motor salvage businesses around enforcement and guidance.

    Many seizures were also made of offensive weapons, theft devices, thousands of pounds in cash, suspected stolen tools, suspected stolen plant and agricultural equipment and a large quantity of drugs.

    Assistant Chief Constable, Jenny Sims is National Police Chiefs’ Council lead for vehicle crime. She said:

    “This intensification week has seen policing, local enforcement, partners and the industry coming together in a targeted effort to tackle some of the highest harm offenders in vehicle crime and the results speak for themselves.

    “We know that organised crime groups are responsible for a significant proportion of vehicle thefts, whether to export high-end vehicles overseas or to break them up for parts. We also know that stolen vehicles are used in poly-criminality, for example in other areas of acquisitive crime but also drug offending and modern slavery, so tackling these groups can be extremely impactful.

    “I’m grateful to all of our partner agencies and organisations who are instrumental in this fight against vehicle crime. The intensification activity this week has supported us in driving intelligence gathering and sharing, as well as our operational work together and I look forward to seeing the results continue.”

    Sharon Naughton is Head of NaVCIS. She said:

    “The Port of Felixstowe handles more than four million shipping containers per year. The challenge of locating stolen cars in shipping containers can seem like a needle in a haystack. NaVCIS intelligence and analysis helps to make the needle bigger and the haystack smaller when disrupting this type of criminality.

    “NaVCIS bridge the gap between policing and industry. The vehicle crime intensification week has been a huge success, particularly at ports, where NaVCIS officers work hard every day of the year to intercept and seize stolen vehicles before they are exported overseas. Through our well-established and positive relationships with industry partners and law enforcement colleagues, we proactively investigate this type of serious and organised acquisitive crime to develop intelligence to increase opportunities to bring offenders to justice.

    “Our port operations are vital to tackle vehicle crime, deprive criminals of assets and return cars to their rightful owners.”

    DCI Lee Newman-West is Head of Operations at Opal, the team which coordinated the national activity. He said:

    “Opal is committed to tackling serious organised acquisitive crime (SOAC) and the team work tirelessly with law enforcement agencies and a host of key partners and industry colleagues within the UK and overseas to enhance our intelligence flows and understanding of key threats.

    “We continue to champion and drive multi-agency responses to support collaboration and operational activity, tackling vehicle crime and wider SOAC threats in partnership. We will do all we can to disrupt this criminality and protect our communities.”

    Key partners involved in delivering the intensification activity to date: (not exhaustive):

    • Opal- National Intelligence Unit for Serious Organised Acquisitive Crime (SOAC)
    • NaVCIS- National Vehicle Crime Intelligence Service
    • NCA- National Crime Agency
    • JICC- Joint International Crime Centre
    • FLEC- Foreign Law Enforcement Community
    • Europol
    • Interpol
    • Home office intelligence
    • Port of Dover Police
    • UK Police forces
    • Vehicle examiners
    • UKBF- Border Force
    • MACC- Multi Agency cash cell
    • FTT- Federated Tasking team
    • National APMIS team
    • NICRP- National Infrastructure Crime Reduction Partnership
    • BTP- British Transport Police
    • Environment Agency
    • Crime Prevention Initiatives
    • National vehicle crime tactical lead
    • ROCU disruptions teams- Regional Organised Crime Units
    • GAIN- Government Agency Intelligence Network
    • NCATT- National Construction Agricultural Theft Team
    • ANPR specialists
    • Tracker companies including Tracker and W4G
    • MPS Organised vehicle team
    • Essex Stolen vehicle unit
    • Industry partners/ manufacturers
    • Jaguar Land Rover
    • Toyota Lexus
    • Finance companies
    • Association of British Insurers (ABI)
    • US Homeland Security
    • Cargo Secure, Suffolk Police.
    • Home Office
    • Recovery agents and VRS teams

    MIL Security OSI –

  • MIL-OSI New Zealand: Crown Minerals Bill Advances Colonisation

    Source: Te Pati Maori

    Today, the Crown Mineral Amendment Bill was read for the first time, reversing the ban on oil exploration off the coast of Taranaki.

    It was no accident that this proposed law change was read directly after the Government started to unravel the ability of iwi and hapū Māori to have their rights in the Foreshore and Seabed recognised with the Takutai Moana Amendment Bill.

    “The insidious timing of the Crown Minerals Bill demonstrates this government’s true priorities: Short-term profit has been chosen over the rights and well-being of Māori communities, our moana, and our whenua.”  Said MP for Te Tai Hauāuru and Te Pāti Māori Co-Leader, Debbie Ngarewa-Packer.

    “Whānau, hapū, and iwi Māori are the last line of defence against mega rich oil and gas companies relentlessly mining and drilling our seabeds and causing irreversible damage to our Taiao.

    “This is textbook colonisation. They have come to our land, they are taking our resources, and they are selling them off to the highest bidder – with no benefit to Māori.

    “This will not be the last exploitative bill passed by this government. Once they erase the few rights we have left, there will be nothing stopping them from plundering and pillaging as they please.

    “For years, ngā iwi o Taranaki have been determined to permanently rid their coastlines of exploitative oil exploration. 

    “No one wants to go backward. The government must collaborate with Taranaki iwi and hapū to transition toward renewable energy.

    “Te Pāti Māori believes that the only way forward is to ban seabed mining permits nationwide, withdraw existing permits and introduce a national Māori strategy for renewable energy,” said Ngarewa-Packer.

     

    MIL OSI New Zealand News –

  • MIL-Evening Report: Politics with Michelle Grattan: Richard Holden says no interest rate fall likely for 12 months

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    For many Australians, the COVID-19 pandemic has become a fading memory as the world has moved away from lockdowns and masks. However, its lasting impacts, including persistent inflation, remain.

    Academic economists Steven Hamilton and Richard Holden, in their just-published book, Australia’s Pandemic Exceptionalism, examine how Australia fared in handling the COVID crisis in its economic and health policies.

    We’re joined on the podcast by Holden to talk about the book and also Australia’s economic outlook, during what has been a big week for economic news.

    On COVID, Hamilton and Holden found a mixed picture: Australia scored highly in its economic response but fell down on its vaccine procurement and provision of RATs.

    I think Treasury gave excellent advice to the Treasurer [Josh Frydenberg]  and he not only […] took that advice but was able to sell it to a sometimes sceptical cabinet. […] So I think it was good advice and strong leadership on the economic front. On the health front, I think the advice was really quite poor at times. I mean we make quite a point of Scott Morrison’s use of the phrase when it comes to vaccines “It’s not a race” when clearly it was a race. It was a race against the virus. It was a race to get vaccinated. It was a race to be able to reopen our economy.

    On the RBA and inflation, Holden agrees with this week’s decision to hold rates but believes they should have risen earlier at least once more:

    I have argued […] that late last year or early this year, the Reserve Bank should have raised rates at least one more time to get us closer to what happened in peer jurisdictions overseas, to try and beat inflation faster. The Reserve Bank has taken a different approach. They want to have interest rates peak, maybe a full percentage point lower than in places like the US, and they’re willing to tolerate inflation for longer.

    At least they’re not caving into political pressure from people like Jim Chalmers and Wayne Swan to precipitously cut interest rates and I give the governor, Michele Bullock, great credit for standing firm on that, including in her press conference remarks [on Tuesday].

    On when interest rates will start moving down, Holden gives a grim assessment:

    My view is the most likely case is very late in 2025, somewhere about 12 months from today. Again, it’s going to depend on the inflation numbers and I’d like nothing more [than] for us to be well inside the target band and for interest rates to be able to be moderated.

    I think it’s a real shame that we took a different strategy in Australia to what peer jurisdictions overseas did, which was raise rates more aggressively, take our medicine, have tamed inflation and now be cutting rates. That’s the story in the US and several other jurisdictions.

    Holden warns against RBA Governor Michele Bullock making predictions of future rate moves:

    Governor Bullock, I think, is at risk of repeating, albeit a milder version of, the mistake that Philip Lowe made in providing forward guidance. Now it’s not as dramatic as saying interest rates are not going to rise until 2024, which was sort of three years of forward guidance or thereabouts. Governor Bullock has fallen into, I think, a little bit of a trap by saying over six weeks ago that she and her colleagues on the board didn’t think that interest rates would be cut this calendar year.

    I don’t really understand what the virtue of her doing that was. I think that was probably, in hindsight, something that she may regret. [Although] I don’t think it will do any real damage because I think it’s a prediction that’s incredibly likely to come true.  

    On the government potentially making changes to negative gearing, Holden outlines why it could be a good idea:

    Getting rid of negative gearing would put potential owner-occupiers on a level playing field with investors at an auction. I think it’ll be very good news for people trying to move from the rental market into being owner-occupiers; I think it’ll be good news for the classic Australian dream. To be fair about it, the existence of negative gearing is something that puts downward pressure on rents. So negative gearing, in a funny way, is good for renters who are always going to rent but bad for renters who want to buy. So there are pros and cons.

    It was a good idea eight or nine years ago. I think it’s still a good idea today and I think it’s interesting that the government seems to be at least floating the test balloon.

    Michelle Grattan 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. Politics with Michelle Grattan: Richard Holden says no interest rate fall likely for 12 months – https://theconversation.com/politics-with-michelle-grattan-richard-holden-says-no-interest-rate-fall-likely-for-12-months-239820

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Communication proposals get support

    Source: Hong Kong Information Services

    The Financial Services & the Treasury Bureau today published the consultation conclusions on promoting paperless corporate communication for Hong Kong companies, outlining the views received during the consultation, along with the Government’s response and the way forward.

    The public consultation was conducted from November 27, 2023, to January 26, 2024, during which nine submissions were received from the community, including business chambers, professional bodies and public organisations.

    Noting that the paperless corporate communication proposals received general support from the community, the bureau said the respondents agreed that the proposals will enhance cost-effectiveness and operational efficiency of companies, thereby achieving the objectives of streamlining procedures and promoting a green business environment.

    Respondents also provided valuable comments on different aspects of the proposals, including introducing an implied consent mechanism, removing the separate notification requirement, and enhancing protection of shareholders’ interest, it added.

    The bureau has briefed the Legislative Council Panel on Financial Affairs on the legislative proposals, consulted the Standing Committee on Company Law Reform and organised a briefing session for seven industry organisations.

    Additionally, it is drafting the amendment bill and plans to introduce it into the Legislative Council within this year. The Government hopes the community will continue to support the implementation of the legislative proposals.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Announcement on Open Market Operations No.191 [2024]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.191 [2024]

    (Open Market Operations Office, September 25, 2024)

    In order to keep liquidity adequate at a reasonable level in the banking system at quarter-end, the People’s Bank of China conducted reverse repo operations in the amount of RMB196.5 billion through quantity bidding at a fixed interest rate on September 25, 2024.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    14 days

    RMB196.5 billion

    1.85%

    Date of last update Nov. 29 2018

    2024年09月25日

    MIL OSI China News –

  • MIL-OSI Russia: From metal products to ice cream: what Moscow supplies to new export markets

    MIL OSI Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    Thanks to the city’s support, Moscow producers have increased exports of processed and food products to Africa and Southeast Asia since the beginning of 2024. This was reported by the Deputy Mayor of Moscow for Transport and Industry Maxim Liksutov.

    “In accordance with the order of Sergei Sobyanin, the city is actively helping the capital’s enterprises develop trade and economic cooperation. For example, the volume of mutual trade between Moscow and Indonesia for the first half of 2024 compared to the same period in 2023 has almost doubled. Among industrial goods, the drivers of development were metalworking products, pharmaceuticals, cosmetics, as well as products of the food and processing industries,” said Maxim Liksutov.

    The capital’s enterprises supply products for healthy nutrition, dentistry, as well as medicines and cosmetics.

    “Moscow’s non-resource, non-energy exports to Indonesia in the first half of 2024 have grown almost 10-fold compared to the same period last year. For example, in 2024, Moscow producers supplied semi-finished steel products to this country for the first time. The food industry is also showing positive dynamics – compared to the first six months of last year, supplies have grown by more than 19 percent,” said the Minister of the Moscow Government, Head of the Moscow Department of Investment and Industrial Policy

    Anatoly Garbuzov.

    The mutual trade between the Russian capital and Senegal has also increased almost 2.5 times compared to the previous similar period. Thus, supplies of Moscow ice cream, popular there, have grown by 78 percent.

    Starting from 2022, the capital’s producers of non-raw materials, non-energy products have reoriented their export flows and found new partners in the markets of Latin America, Africa, the Middle East, Southeast Asia and the CIS countries. This became possible, among other things, thanks to the support of the Mosprom center.

    A digital platform is operating within the framework of the national project “International Cooperation and Export” “My export”, where entrepreneurs are provided with support. For example, there you can get free expert advice, analytics, help in promoting products on international marketplaces, and also take online training. More information about national projects implemented in the city is available at special page.

    Which BRICS countries have become the main buyers of Moscow products

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

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

    http://vvv.mos.ru/nevs/item/144405073/

    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 Asia-Pac: Interest rate of second interest payment for series of retail green bonds due 2026

    Source: Hong Kong Government special administrative region

    Interest rate of second interest payment for series of retail green bonds due 2026
    Interest rate of second interest payment for series of retail green bonds due 2026
    **********************************************************************************

    The following is issued on behalf of the Hong Kong Monetary Authority:     The Hong Kong Monetary Authority, as representative of the Hong Kong Special Administrative Region Government, announced today (September 25) the relevant per annum interest rate for the second interest payment of the series of retail green bonds due 2026 (Issue Number: 03GR2610R; Stock Code: 4273) (the Retail Green Bonds) issued under the Government Sustainable Bond Programme (previously known as the Government Green Bond Programme).           According to the Issue Circular dated September 18, 2023 for the Retail Green Bonds, the second interest payment of the Retail Green Bonds is scheduled to be made on October 10, 2024, and the relevant interest rate is scheduled to be determined and announced on September 25, 2024 as the higher of the prevailing Floating Rate and Fixed Rate.            On September 25, 2024, the Floating Rate and Fixed Rate are as follows: Floating Rate: +1.80 per cent (Annex)Fixed Rate: +4.75 per cent      Based on the Floating Rate and Fixed Rate set out above, the relevant interest rate for the second interest payment is determined and announced as 4.75 per cent per annum.

     
    Ends/Wednesday, September 25, 2024Issued at HKT 17:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Healthway’s new Executive Director

    Source: Government of Western Australia

    Healthway’s Chief Executive Officer, Colin Smith today announced Carina Tan-Van Baren as the new Executive Director of Healthway.

    Carina has more than 30 years of experience as a lawyer, journalist, communications strategist, government advisor, and commercial executive and will be commencing in her new role on Monday 14 October 2024.

    Carina has delivered positive strategic outcomes for listed and unlisted companies, not-for-profit organisations and government departments and agencies, many in the health sector. Carina brings a strong understanding of the roles played by the wide range of stakeholders participating in Health Promotion across Australia.

    Healthway’s Chief Executive Officer, Colin Smith said that Carina’s multi-disciplined perspective and skill-set means she is well placed to lead Healthway through this next phase to deliver on our new strategic plan.

    “Carina brings a strong understanding of the roles played by the wide range of health promotion stakeholders across Australia,” he said.

    “Her experience will complement the depth and breadth of health promotion experience we already have here at Healthway, with a focus on advocacy, government and stakeholder relations.

    “I look forward to Carina joining us and I’d also like to thank Joanne Graham-Smith for acting in the Executive Director role for 16 months and look forward to her valuable ongoing contribution to achieving our vision of creating a healthier WA together.”

    MIL OSI News –

  • MIL-OSI Australia: Press Conference Government House, Adelaide

    Source: Minister for Trade

    Minister for Trade, Don Farrell: Good afternoon everybody, and please take a seat, don’t stand on formality. I thank the Governor for making her home available to us today to hold this press conference with my very good friend, the Trade Minister for India, Piyush Goyal, it’s absolutely wonderful to have you here.

    When I first became the Trade Minister for Australia, I was lucky enough to be invited to Piyush’s home in New Delhi, and have a wonderful feast with him and his wife, and a little bit later on today I’m going to return the favour. We’re heading out to the magnificent Clare Valley, and we’re going to have a wonderful meal out in the Clare together this evening.

    We’ve just wrapped up our face‑to‑face meeting, and it’s the first meeting that we’ve had since the Modi Government was recently re‑elected, and of course follows on the weekend’s events between our Prime Minister and Prime Minister Modi in Delaware, with the Japanese and the American leaders.

    I think it’s fair to say that the relationship between Australia and India has never, ever been closer. And to reflect that, is the economic relationship between our two countries, and it has never ever been better.

    Following our Trade Agreement that was ratified during the course of this Parliamentary session, trade with India is turning out to be a really big win for Australia, and today we held in‑depth discussions on how to accelerate that trading relationship. And in addition to that, our investment relationship viability on the enormous growth that we’ve just seen in recent times.

    Just to give you some examples of that, in the 18 months since our Trade Agreement with India came into force, nearly $30 billion worth of Australian exports have entered India either with zero tariffs or lower tariffs than any of our competitors.

    Agricultural exports to India are up around 60 per cent to $1.6 billion, and we know how important that is to the South Australian economy.

    Industrial equipment and manufacturing exports are up 66 per cent or $145 million, and our health exports to India have increased by nearly 40 per cent to $33 million.

    Australian consumers are of course benefitting by our trade deals with savings at the checkouts worth around $225 million, thanks to the lower tariffs on products that are coming in from India.

    During our meeting, Minister Goyal and I discussed how we can grow our two‑way trade and investment even more. The key focus of today’s discussion was our next free trade agreement called the Comprehensive Economic Cooperation Agreement.

    Our trade negotiators recently met in Sydney, and today’s discussions show that there’s real momentum here to get an agreement as we work out the details.

    For Australia, we’ve made it clear that we have much to offer our friends in India, particularly in agriculture, as well as the emerging sectors we are building as part of our Future Made in Australia.

    We also exchanged a Memorandum of Understanding on investment cooperation between Austrade and Invest India, which will help boost two‑way investment between our countries.

    Our Government has also wrapped up consultations on our new India Economic Roadmap. We’ve held over 400 consultation sessions across every Australian State and Territory and in India.

    Over the past two days, Minister Goyal has heard from a range of Australian businesses who see wonderful opportunities to partner with India in sectors like green energy, education skills, tourism, agriculture and technology, and in a few moments the Minister and I will walk up to the Australian Space Agency headquarters to meet some of the Australian space start‑ups that are partnering directly with India.

    Our Government is committed to driving more practical cooperation between Australian and Indian businesses. That’s why today I’m announcing $10 million in new grants for Australian businesses, organisations and universities to boost cooperation with India.

    By extending the $10 million Maitri Grants program, the Government will deliver, firstly, $5 million for Australian organisations working on projects that boost trade and innovation, cultural ties and community leaders, and then a further $5 million for scholars and fellowships to support Australian universities to host some of the brightest Indian students in their research, on some of our biggest shared challenges.

    As I indicated before, the Minister and our wives, will be heading out to the magnificent Clare Valley, and we’ll continue to discuss the wonderful opportunities between our two countries. I’ll invite my good friend Piyush to say some words about today’s events and his time in Australia.

    Indian Minister for Commerce and Industry, Shri Piyush Goyal: Thank you very much Honourable Don Farrell, Member of Parliament and Minister for Trade and Industry, someone I look upon as not only a friend and well‑wisher, but a brother who has been a guide, who has helped me understand trade nuances, very sensitive, ever‑smiling, and a well‑wisher of the Australia-India partnership.

    Thank you very much for your warm hospitality, thank you very much for bringing me to Adelaide for the first time. What a beautiful city, charming, a place we’ve heard about from childhood. Where cricket matters and in the good old days, we had five‑day test matches where every wicket falling was blown all over the television and radio. But to actually be right across from the Adelaide stadium is truly a memorable visit for me.

    We had very good engagement with Australian business persons in Sydney over the last two days, the excitement is truly palpable on both sides, Australian business and Indian business.

    For the first time ever both our major chambers, the conflagration of Indian industries and the conflagration of Indian chambers of commerce and industry were represented by their top leadership together as a testimony of the importance that the Australia relationship is to India.

    We are looking at significantly upscaling our partnerships in trade, investment, tourism and technology, and therefore one of the first announcements I’d like to make is that we shall shortly be setting up in Sydney an office covering all these four areas, ITTT, investment, trade, technology, and tourism. With representatives of Invest India, representatives of the organisation responsible for building industrial smart cities and townships, meeting representatives of our Export Trade and Guarantee Corporation, and other officials related to trade and tourism.

    Along with the private sector, CII jointly manning these offices to act as a bridge between investors and businesses on both sides and working closely together with Austrade with whom Invest India has today exchanged an MOU for mutual investment promotion, technology and trade facilitation, and other insights into economic trade.

    Thank you very much, Don, for giving us the encouragement to work together on these areas. And I’m sure the unprecedented ties that our two countries are sharing today with nine in‑person meetings since May 2022, in less than three years, nine in‑person meetings of our senior leaders, both Prime Ministers, reflecting the big bonding that both Prime Ministers, political leadership have with business-to-business and people‑to‑people connect that Australia and India share.

    Friends, today is a very important day in India. We are celebrating 10 years of our Making India Program. Prime Minister Modi on 25 September 2014, had launched this initiative, and through the Making India Program over the last 10 years we have significantly had a whole of government approach to addressing the challenges that manufacturing in India increase. Whether it’s provision of plug-and-play infrastructure, a national single window for all approvals, regulators reducing compliance burden or decriminalising laws, opening up foreign direct investment in newer sectors making it easier to invest in India, or encouraging the start of ecosystem. It’s been a multi‑pronged approach to attract manufacturing in India, and I do see a lot of promise between the Making India Program and the Future Made in Australia program that your government has launched, so that we can exchange the technologies, exchange opportunities and encourage businesses on both sides to work with each other.

    This enhanced cooperation via education, via skill development, tourism, investments, critical minerals, which we discussed at length today, or renewable energy, green ecosystem towards sustainability, all of these other areas where this relationship holds tremendous potential. And India is committed to partner with Australia to provide a bouquet of opportunities to our business persons on both sides so that we can work towards a greater and more ambitious relationship on the economic front.

    Friends, as Minister Farrell mentioned, ECTA, and I think some of you may recall, ECTA in India, in Hindi, is unity. This agreement has truly been a game‑changer providing greater market access to businesses on both sides and has resulted in a significant increase in merchandise trade. We’re looking at further strengthening the ECTA through to the Comprehensive Economic Partnership Agreement, the CECA, and we do hope to see a greater flow of goods and services along with investments flowing out of the CECA, which we are looking to conclude at an early date to unlock new dimensions in this partnership and provide further momentum to this business relationship.

    Friends, I must mention that we have also discussed at length greater cooperation at various multilateral fora like the WTO, the G20, the IPEF and other international organisations where Australia and India share common interests.

    India is the world’s fastest growing economy today. We grew at 8.2 per cent last year. The economy today is the fifth largest in the world, expected to become the third largest in the next three years. We will cross the $7 trillion mark by 2030, and the $10 trillion mark by 2034, 10 years from now.

    We are very confident of achieving a developed country status by 2047. [Indistinct] 2047 is our ambition, is our goal, taking up our economy to 10 times today’s size, to $35 trillion economy in the next 25 years or so, so that we can meet the aspirations of 1.4 billion Indians for a better quality of life. And I see Australia playing an important role in this journey towards making India a developed nation, a role to greater trade, a role to exchange of technologies, a role in our common goals for sustainability and a significant role when it comes to provision of high-tech services and investments.

    India offers the advantage of four Ds. The first is our democracy. We have a vibrant democracy, the world’s largest democracy, the Rule of Law prevails, it provides safety and security for investment and people. And I think in today’s day and age, two democracies working together provides a great comfort to investors in the long run.

    The second D is our demographic dividend, a young population with an average age of 28.4 years, expected to remain young for many, many more years to come, with two‑thirds of our population in the working age to providing skills, talent and huge manpower force to help the economy to move faster.

    The third D is demand. 1.4 billion aspirational Indians, demanding high quality goods and services is a huge market opportunity, and growth opportunity.

    And the fourth D is decisive leadership. The Prime Minister Narendra Modi and the Government are willing to reform, transform and perform to take the country to greater heights. I’m very confident that together we shall make the Australia-India partnership a defining partnership of the decade, if not the 21st Century. The kangaroos and the tigers together have a combined strength which is unstoppable. Thank you.

    Minister for Trade: I think we should give Piyush a clap for that. Thank you, very much, my friend, and we’ll open to questions.

    Journalist: This one’s for both Ministers. Can you give an update on the CECA negotiations? You made progress of the outstanding points of difference, and do you see an agreement for Australia [indistinct]?

    Minister for Trade: We are very optimistic that the good work that was done today will result in an expanded agreement. As we saw with the United Arab Emirates, when both parties put their mind to it we can very quickly expedite the discussions to finalise an agreement. I’d be hopeful that goodwill on both sides, and you can see today, that’s been demonstrated here – I think with goodwill we can very quickly resolve this issue, and we can have a new upgraded agreement between Australia and India.

    Piyush Goyal: Madam, I think the important and defining feature of our discussions and negotiations is the sensitivity that both sides have to each other’s issues, defensive interests, offensive interests. All are considered together in a manner which will only result in a win‑win situation. So any issue that I can see Australia will be uncomfortable with I would not like to push, press on that, and likewise our approach has been that if something is very sensitive to a large Indian population given our current status of development, Australia has been very gracious in their understanding of our sensitivities.

    It is my deep confidence in each other that helps us to resolve issues very fast, and I’m very confident that the final agreement will only help grow this relationship. You saw that our first agreement didn’t have any negative press or any negative public outcry. I’m sure the second agreement will correspondingly be a good mix of the good things that people want out of the agreement.

    Minister for Trade: I think it’s worthwhile repeating that when we were last in India together we committed to increasing our trade from its current $49 billion two‑way trade to $100 billion by the end of the decade, and I think we’re ‑ I’m certainly happy, and I think I speak for Piyush here, to restate that today.

    We want to double that trade between our countries between now and the end of the decade.

    Journalist: Just on that, Minister Goyal, India has traditionally been hesitant about removing barriers to Australian exports in sensitive sectors like dairy. Have you had consultations with those domestic producers and has the Government consulted with its Coalition partners on any of those sensitivities?

    Piyush Goyal: First of all, the Government in India is a strong government. The Coalition is a pre‑poll alliance. So we have very seamless consultations and very seamless understanding of any decisions that the Government takes.

    As regards dairy, that sector was discussed even before we started the negotiations with Australia three years ago, and Indian dairy is very significantly different from Australian dairy.

    Our average holding with a farmer is a small two‑acre, three‑acre farm with three or four livestock, whereas Australia’s farms and dairy farms are both very large, and it would be near impossible for these large farms and these small farms to compete with each other on a common footing.

    We have discussed this issue even three years ago and on earlier occasions, and dairy is such a sensitive subject that in any of our FTAs across the world, we have not been able to open up the dairy sector with duty concessions there is permitted in India, but there are certain duties imposed on that.

    This is one sector where there’s no discussion with any Coalition partner, even when we were a full majority government there was no opening up of the dairy. It’s actually two very unequal situations and would not lend themselves to fair trade between the two countries, or between any countries. We have neither opened up dairy in Europe, or planning to open up dairy in Europe, nor have we opened it up even with Switzerland and Norway, with whom we have recently concluded an FTA under the EFTA grouping – Switzerland, Norway, Lichtenstein and Iceland. Even then we have not opened up dairy. It’s the first agreement Switzerland has signed without any component of dairy in it.

    Journalist: You predicted that China will bring its pursuit of all lobster type business. Given your previous predictions on the subject have proven optimistic, why do you have the confidence that this will be resolved in the next few months?

    Minister for Trade: I’m an optimistic sort of person, and I think the only way you can do this job is to be optimistic. If you think about this, when we came to government two and a half years ago, we had $20 billion worth of impediments between Australia and China.

    We have reduced that over time to less than $1 billion and one product that is still outstanding unfortunately is lobster.

    We’ve recently had meetings both with the Chinese Premier, and also my counterpart, Wang Wentao, in fact as Piyush has done. They both came to Adelaide, it’s becoming a bit of a feature of international trade these days, everyone’s coming to Adelaide. I’m confident that we can resolve the outstanding issues in a timely manner.

    It is unfortunate that that issue hasn’t been resolved. The Government is doing its absolute best to resolve it, but these issues do take time, and we’ll continue to work very closely with the Chinese Government to put aside all of the outstanding issues between our two governments.

    Journalist: Paul Starick from The Advertiser in Adelaide. Two questions, one for both ministers. You mentioned agriculture as a significant component of the next stage of your agreement. Do you care to elaborate on that, what particular opportunities do you see? And secondly, for Senator Farrell, regarding an unrelated issue at the Whyalla steelworks. The Premier has talked about the importance of that as a national enterprise. Do you agree, and what response given its current predicament do you think is appropriate at a national level?

    Minister for Trade: Well, look, in terms of agriculture, we’re talking about the removal of all of the tariffs that weren’t removed at the last process, so we’ve made very significant progress, but as the Minister said, some of the more difficult issues were not resolved at that issue, we put them to one side, they’re all back on the table. So things like chickpeas, pistachios, and apples. So, all of the issues, all of the products where there are still tariffs ‑ wine is another one ‑ we are seeking to have those tariffs removed.

    I’m not going to go to the details of the negotiations, it’s not appropriate to do that here, but we’ll continue to work through, and as Piyush said, where issues are difficult, we understand that, and we’re not going to make life any more difficult for the Indian Government.

    On the other issue, I’m aware that there have been some discussions between the Prime Minister and the Premier over the issue of Whyalla. Obviously steel making is a very important business in Whyalla. As a government we want to see steel making continue, and of course all of those jobs be protected, and we will, of course, continue those discussions between the Prime Minister and the Premier.

    Minister, you might like to answer that first question.

    Piyush Goyal: I think as you very rightly put it, we let the negotiators take the discussions forward and give them a chance to look at what other possibilities as we conclude the CEPA.

    Minister for Trade: Well, if there are no other questions, thank you very much for coming along today, and we’ll head up to the Space Agency after a quick lunch with the Premier and the Governor. Thank you very much for attending.

    Piyush Goyal: Thank you friends.

    MIL OSI News –

  • MIL-OSI Africa: ‘We will not remain silent as apartheid is perpetrated against others’ – President Ramaphosa

    Source: South Africa News Agency

    President Cyril Ramaphosa has told the United Nations General Assembly (UNGA) that South Africa will not remain silent and watch as apartheid is perpetrated against others.

    In his address to the Assembly’s annual high-level debate on Tuesday, President Ramaphosa said the South African story bears witness to the enduring role of the United Nations in global affairs. 

    In supporting South Africa’s struggle for liberation, the President highlighted that the UN affirmed the principles of the UN Charter – fundamental human rights, the dignity and worth of every person, and the equal rights of nations large and small. 

    “It affirmed the aspiration contained in the Universal Declaration of Human Rights that we should strive for a world free of barbarous acts that outrage the conscience of mankind.

    “We South Africans know what apartheid looks like. We lived through it. We suffered and died under it. We will not remain silent and watch as apartheid is perpetrated against others. Through the United Nations and the instruments it wields, we must end this suffering,” the President said. 

    He further reiterated South Africa’s call for an immediate cease fire, and for the release of all hostages.

    He highlighted that the violence the Palestinian people are being subjected to is a grim continuation of more than half a century of apartheid. 

    “The only lasting solution is the establishment of a Palestinian State, existing side by side with Israel with East Jerusalem as its capital,” he said. 

    Earlier this month, The Presidency announced that South Africa is set to submit its Memorial to the International Court of Justice (ICJ) in October 2024, presenting evidence to support its claim that Israel is committing genocide in Palestine.

    The Memorial will outline facts and arguments as part of a broader legal effort to hold Israel accountable under international law.

    READ | SA to file Memorial to the ICJ on Israel matter

    Addressing the conflicts in the Democratic Republic of Congo (DRC), Sudan, Yemen, Ukraine, and the Sahel region, the President highlighted the country’s role in supporting international efforts for conflict resolution. 
    “Our moral conscience further demands that we exert every effort to bring peace to the Democratic Republic of Congo, to Sudan, to Yemen, to Ukraine and to the troubled Sahel region. We must realise the aspirations of the people of Western Sahara to self-determination.”

    He emphasised that achieving and maintaining peace and security requires the collective will of the community of nations.

    Reform of the UN Security Council 

    “It requires that the UN Security Council is representative and inclusive. Seventy-eight years since its formation, the structure of the UN Security Council remains largely unchanged. 

    “Africa and its 1,4 billion people remain excluded from its key decision-making structures.  The Security Council has not fulfilled its mandate to maintain international peace and security,” he said. 

    The President called for the UN Security Council to be reformed as a matter of urgency and become more inclusive so that the voices of all nations are heard and considered.

    “Africa stands ready to play its part in building a safer global order. The African Union and its member states are engaged in mediation, dialogue, and diplomacy across the continent, to create conditions under which peace and development can take hold. 

    “There must be greater collaboration between the AU [African Union] and the UN towards resolving these conflicts, and also in addressing their root causes,” he said. 

    President Ramaphosa is leading South Africa’s delegation to the High-Level General Debate of the 79th Session of the General Assembly (UNGA79) in the United States of America.

    The High-Level General Debate of the UNGA79 is taking place at the United Nations headquarters in New York, from 24 to 30 September 2024. 

    Speaking at the African Minerals Forum hosted by the Business Council for International Understanding (BCIU) and Prosper Africa on Monday, the President emphasised the importance of the critical minerals sector in driving global economic growth and sustainability. 

    By leveraging key sectors such as mining, energy, and manufacturing, the President said South Africa is set to improve its business environment and attract much-needed investment.
    The President addressed the session on the sidelines of the UNGA.

    READ | Critical minerals sector key to driving global economic growth

    –SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Making Scotland a global green finance hub

    Source: Scottish Government

    Taskforce identifies four areas for action.

    Deputy First Minister Kate Forbes will collaborate with financial institutions to ensure Scotland becomes a global centre for green and sustainable finance and investment. 

    A new report from the Scottish Taskforce for Green and Sustainable Financial Services makes 31 recommendations on how the public and private sectors can encourage and fund green investments and tackle the climate emergency.

    It stresses the Scottish finance industry is particularly well placed to reap “profound benefits” from becoming a global hub and identifies four areas for action – policy, promotion, investment and skills.

    Suggested initiatives include:

    • work to ensure Edinburgh and Glasgow sustain and improve their rankings in the Global Green Finance Index
    • new initiatives to attract more financial institutions to build their sustainable businesses in Scotland
    • collaboration across sectors and academia to improve the skills of Scotland’s workforce in sustainable finance

    Deputy First Minister Kate Forbes, who will today address the Ethical Finance Global Summit in Edinburgh, welcomed the findings.

    Ms Forbes said:

    “This report is a decisive action plan as we progress towards making Scotland the natural home for green and sustainable finance.

    “The financial services sector is key to delivering the benefits of the transition to net zero and we will use this route map to work together and ensure that Scotland – one of the world’s oldest financial centres – is able to maximise the opportunities ahead of us.

    “This report, complementing our Green Industrial Strategy and the action we are taking such as developing a series of investment opportunities and launching an online investment portal in 2025, will make Scotland more attractive for investment.”

    Taskforce Chair David Pitt-Watson said:

    “Climate may be the greatest challenge facing humankind. Addressing it will require a huge investment and the services of the finance industry. Finance is a jewel in Scotland’s industrial crown. So not only should there be many opportunities for green investment in Scotland, from wind to housing, there is also a huge opportunity for its financial services industry to serve the world.

    “The Taskforce has already stimulated a considerable amount of action. And there is so much more to do. This report is a strategy for Scottish finance to play its proper role in addressing the climate challenge.”

    Chief Executive of Scottish Financial Enterprise (SFE) Sandy Begbie said:

    “The work of the taskforce is a great example of collaboration between government and industry to enhance Scotland’s reputation as a global green and sustainable finance centre.  

    “There are significant recommendations in the report and I am pleased that today marks the start of a formal partnership between the Global Ethical Finance Initiative (GEFI) and SFE to take them forward. GEFI will leverage its considerable global footprint while SFE will use its leadership position here in Scotland and our key relationships in London.”

    Background

    The Scottish Taskforce for Green and Sustainable Financial Services report.

    The Scottish Government’s initial response.

    The Taskforce was established by the Scottish Government in 2022 following the success of COP 26.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: GUU took part in the Russian-Arab Business Forum

    MIL OSI Translation. Region: Russian Federation –

    Source: State University of Management – Official website of the State –

    On September 24, 2024, the Russian-Arab Business Forum was held in Moscow: new connections, new opportunities.

    The State University of Management was represented at the Forum by the Rector’s Advisor Sergei Karseka.

    The event program included discussions of a wide range of current issues and problems of organizing and conducting business in the Persian Gulf countries, as well as the resolution of cross-border disputes involving Russian companies, including those under sanctions.

    Among the most interesting topics for discussion are the following: business dialogue between Russia and the Gulf countries – using mutual potential; development programs for the Gulf: openness to cooperation; cross-border trade and settlements; creation of business structures in the Gulf countries; judicial protection and dispute resolution in the Gulf countries.

    The Forum was attended by the Director of the Department of the Middle East and North Africa of the Ministry of Foreign Affairs of the Russian Federation Alexander Kinshchak, representatives of the embassies of the Persian Gulf countries in the Russian Federation, professor of the Department of International Private Law of the S.S. Alekseev Research Center for Private Law, Deputy Chairman of the Arbitration Center at the Russian Union of Industrialists and Entrepreneurs Mikhail Savransky, business owners, top managers, heads of legal departments of large Russian and Arab companies.

    Advisor to the rector’s office of the State University of Management Sergey Karseka discussed with the participants of the discussion the possibility of using the experience of opening and running a business in the Persian Gulf countries in the educational program at the State University of Management, the prospects for cooperation between the State University of Management and Russian and Arab companies in a wide range of areas and topics of mutual interest.

    The event was held by the law firm Lidings in cooperation with the Russian Union of Industrialists and Entrepreneurs with the support of leading legal consultants from Bahrain, Oman and Saudi Arabia.

    Subscribe to the TG channel “Our GUU” Date of publication: 09/25/2024

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

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

    GUU took part in the Russian-Arab Business Forum

    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 Russia: Protecting the digital “I” and “we”: HSE’s new course on information security

    MIL OSI Translation. Region: Russian Federation –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    Prepared Moscow Institute of Electronics and Mathematics named after A.N. Tikhonov (MIEM) HSE University continuing professional education program “Corporate information security” will enable students to acquire skills in searching for vulnerabilities in digital products and eliminating potential gaps in the security systems of electronic networks of corporations, universities and their own pages in open sources using specific examples and with the support of leading cybersecurity experts. Students will learn how to work with digital assets, resist the psychological tricks of fraudsters and pass on the acquired knowledge and skills to colleagues.

    MIEM HSE presented the additional education program “Corporate information security“, prepared jointly with leading experts in the field of cybersecurity.

    The head and author of the program idea, MIEM Director’s Advisor Elena Kabaeva, noted that now attention to the digital “I” is no less important than to the real one: “We actually have a full-fledged digital citizenship, the safe functioning of which determines our professional and life success.” Training in the program is designed to prevent corporate and personal losses in the digital space. “This is the first and so far the only training program in Russia aimed at developing practical skills to counter cyber threats. It is focused on the corporate sector, confident and active users of digital systems and equipment, as well as owners of digital assets,” said the MIEM Director’s Advisor.

    The theoretical component of the program includes master classes from experts, including the company InfoWatch — a leader in countering threats in the digital space.

    The program consists of three consecutive modules. The first module, “Digital Security,” involves mastering tools for identifying vulnerabilities in digital products and accounts. The developers of the practical content, Amir Atigaev, a methodologist at the Novosibirsk Institute of Modern Education, and Yulia Glukhikh, a curator of digital projects in the field of education, noted that the content has an increasing level of complexity — from analyzing one’s own digital footprint and creating secure authentication tools to creating a secure digital user environment. The program works through real cases of corporations and government agencies, as well as cases of specific users. “We will conduct several business games and offer digital simulators that will give listeners a sufficient arsenal of skills in the field of digital hygiene,” Amir Atigaev concluded.

    The second module, “Digital Projects and Psychological Safety,” immerses students in intensive work in various digital environments, reveals the possibilities of safe project implementation, and concludes with a topic dedicated to critical thinking. The developers of the second module, led by Associate Professor of the Nizhny Novgorod State Linguistic University named after N.A. Dobrolyubov and HSE University in Nizhny Novgorod Natalia Frolova emphasizes that students will become familiar with programming and acquire skills in identifying genuine and fake sites, and develop critical thinking skills. “We will teach you how to organize a digital detox and not drown in a sea of information,” noted Natalia Frolova. One of the aspects of this module is dedicated to the free online master class “Critical Thinking in a Digital World» October 9.

    The third module, “Legal Aspects,” expands on the understanding of digital assets, protected and open content, virtual property, and allows students to take into account important legal subtleties when designing their own digital projects.

    The program also includes a cross-cutting module that involves participants designing a secure digital project and profile. “We encourage it if a participant leads a specific project. The program will allow us to analyze it for vulnerabilities and prevent cyber risks. Listeners, interacting with the program’s experts, receive invaluable feedback, which enhances the positive effect of the program,” said Elena Kabaeva.

    It is expected that the audience will include cybersecurity specialists, HR and corporate university staff, teachers of higher and secondary specialized education, heads of functional departments, including those supervising digitalization, corporate lawyers, as well as students and postgraduates who will be able to use this course to expand their educational opportunities within the framework of the main educational programs.

    The Corporate Information Security program can also be implemented in a corporate format for groups of 20 people or more.

    The program, which will last 104 academic hours (including 72 contact – interactive hours), is expected to be completed over 9 weeks, starting on October 21, 2024. Classes will be held online, primarily in the evenings, twice a week. The cost of training is 42,000 rubles.

    Those who complete the program will receive a certificate of advanced training in the established format.

    “We hope that the program will develop sustainable skills in the students and that they will not return to the usual behavioral models in relation to digital assets, environments and projects and will pay due attention to the external and internal digital contour. This is essentially a program for the safe professional management of our second digital citizenship. We invite you!” – Elena Kabaeva summed up.

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

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

    http://vvv.hse.ru/nevs/edu/966071373.html

    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: NexQloud to Compete in Blockchain Life 2024 Startup Pitch: Showcasing Decentralized Cloud Computing

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Sept. 25, 2024 (GLOBE NEWSWIRE) — NexQloud, a trailblazer in decentralized cloud computing, is set to participate in the Blockchain Life 2024 Startup Pitch competition in Dubai. This prestigious competition, held as part of the Blockchain Life forum, is one of the largest global platforms for blockchain, Web3, and cryptocurrency projects, attracting over 10,000 attendees from 120+ countries. NexQloud will compete on the main stage, presenting its groundbreaking decentralized cloud technology to top-tier venture funds, investors, and industry experts. With over 10,000 attendees expected from more than 120 countries, Blockchain Life is one of the world’s largest forums for blockchain, Web3, and cryptocurrency.

    The Startup Pitch offers NexQloud a prime opportunity to demonstrate its decentralized cloud platform and how it leverages unused computing power from everyday devices to build a secure, cost-effective, and environmentally sustainable alternative to traditional cloud computing.

    Competing for Investment and Recognition

    The Blockchain Life Startup Pitch competition is designed to spotlight innovative blockchain and cryptocurrency projects with the potential to transform industries. Participants are evaluated based on their relevance, business model, feasibility, and team competency, with winners gaining significant attention from investors and key players in the blockchain space. Past winners have seen remarkable growth, including companies that have secured major investments following their participation.

    “We’re thrilled to take part in the Startup Pitch, where we will showcase how NexQloud’s decentralized cloud platform not only reduces operational costs by up to 30%, but also lowers CO2 emissions by up to 40%. These reductions are based on our internal testing against conventional data center models,” said Mauro Terrinoni, CEO of NexQloud. “This event offers us the chance to present our solution to a highly engaged audience of investors and decision-makers.”

    Positioning for Growth in a Trillion-Dollar Market

    The global cloud computing market is forecasted to surpass $1 trillion by 2027, according to BusinessWire. NexQloud’s decentralized model places the company in a strong position to capitalize on this growth. With its unique use of blockchain and tokenomics, NexQloud aims to attract the attention from both investors and hardware contributors. The company’s NXQ token—with a capped supply of 21 million—mirrors successful early blockchain models like Bitcoin, presenting investors with an attractive long-term value proposition.

    About NexQloud

    NexQloud’s platform harnesses the power of its proprietary layer one blockchain to deliver decentralized cloud services that meet the rising demand for more affordable, secure, and environmentally friendly computing solutions. By tapping into idle computing resources from devices across the globe, NexQloud transforms unused capacity into a powerful, distributed cloud network. This decentralized approach not only ensures exceptional efficiency and reliability but also cuts costs and reduces environmental impact. NexQloud’s innovative system creates a scalable cloud infrastructure that is both economically and ecologically sustainable, offering businesses a smarter, greener alternative to traditional cloud providers.

    Contact:
    Name: Mauro Terrinoni, CEO
    Email: mterrinoni@nexqloud.io
    Company Name: NexQloud
    Website: nexqloud.io
    Contact number: +1 669 241 0916

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bf032a4e-b9ed-4764-b938-6bb9f4613f5c

    The MIL Network –

  • MIL-OSI Europe: Written question – EU measures in response to the ICJ advisory opinion on the Israeli occupation of Palestinian territory – E-001713/2024

    Source: European Parliament

    Question for written answer  E-001713/2024/rev.1
    to the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy
    Rule 144
    Vicent Marzà Ibáñez (Verts/ALE)

    The advisory opinion issued on 19 July 2024 by the International Court of Justice (ICJ) states that the Israeli occupation of Palestinian territory is clearly illegal. The opinion further stresses that there are ‘legal consequences’ for UN member states, who are ‘under an obligation not to render aid or assistance in maintaining the situation created by Israel’s illegal presence in the Occupied Palestinian Territory’.

    In this context:

    • 1.What specific action has the EU taken or does it intend to take within the scope of its powers to ban trade with the settlements, sanction companies operating in them, withdraw eligibility for subsidies and limit participation in EU programmes for, inter alia, companies and universities active in the settlements?
    • 2.What measures to sanction settlers are under consideration?

    Submitted: 13.9.2024

    Last updated: 25 September 2024

    MIL OSI Europe News –

  • MIL-OSI Europe: Ignazio Cassis in Central Asia: Speech on the occasion of the Swiss National Day

    Source: Switzerland – Department of Foreign Affairs in English

    Bischkek, Swiss Embassy, 03.07.2024 – Speech by H.E. Federal Councilor Ignazio Cassis, Head of the Federal Department of Foreign Affairs (FDFA) – check against delivery

    Benvenuto a tutti
    Bienvenue à tous et toutes
    Ich heisse alle recht herzlich willkommen

    Добро пожаловать!

    Кош келиңиздер!
     
    I would like to welcome you all to our celebration of the Swiss National Day – one month in advance, indeed, but this is the only way to catch you all here!

    This is a very special occasion that I am privileged to share with you today:
    This year, we are also celebrating the 30th anniversary of development cooperation between our countries; and the centenary of the Kara Kyrgyz Autonomous Oblast, the new beginning of the modern Kyrgyz Republic.

    A few years after that beginning, Swiss travellers started to visit your country:
    Notably the writer and photographer Ella Maillart, who is honoured in the karakul museum, and the alpinist Lorenz Saladin, who climbed Khan Tengri.
    Today, I have had the pleasure to discover a bit of your beautiful country and its many similarities with mine.  

    • We both have stunning nature and impressive mountains.
    • We are both rather small and landlocked countries;
    • We both have larger neighbours.

    Geographic, natural, cultural, ethnic, religious, and linguistic diversity has been a key asset and factor for success for Switzerland as it is for the Kyrgyz Republic.

    Our relations are fruitful and strong.
    In 2023, Switzerland was the biggest export partner of the Kyrgyz Republic.
    We have regular high-level meetings, including political consultations, and now, my visit to Bishkek.

    It was about time to come here, to strengthen our relations.

    The team at your Embassy in Switzerland and at the Swiss Embassy in Bishkek invest countless hours in nurturing our bilateral relations.

    Not to forget the personal link of friendship between our countries:

    I would like here to recognise some of my compatriots who live in Kyrgyzstan – thank you for promoting Switzerland by your presence.

    I would also like to acknowledge the role of Kyrgyzstani citizens in Switzerland in strengthening links of friendship.

    Dear Guests
    In international fora, Kyrgyzstan and Switzerland support each other.
    The most obvious example is our collaboration within the World Bank and International Monetary Fund boards.
    Yesterday, I attended the constituency meeting in Dushanbe, with participation of the Kyrgyz Republic.
    It showed me how strong our links are.

    Switzerland will stay committed to its development cooperation with the Kyrgyz Republic. We will continue to work together in the future.
    We should continue supporting the private sector, local governance and the water-energy sector, to the extent allowed by today’s trying circumstances.

    Speaking of circumstances, the stability and prosperity of our two countries strongly depend on the global balance of power.

    As a neutral country, Switzerland is a traditional partner for peace and dialogue.
    To fulfil this responsibility my country hosted the first Summit on Peace in Ukraine two weeks ago.
    We have launched a broadly supported process, where voices from all corners of the globe can discuss their ideas and points of view.
    The path to peace is long and challenging but it is in the interest of everyone – including Switzerland and Kyrgyzstan – to commit to this ambition.
    Both our countries thrive in peace, as will Ukraine and Russia when a “comprehensive, just and lasting peace” has been achieved.
     
    Ladies and Gentlemen
    On all anniversaries, it is customary to make wishes – and I have three wishes for your exceptional country:

    • May Kyrgyzstan navigate the difficult international context successfully, grounded in its neutrality.
    • May the Kyrgyz Republic and the Republic of Tajikistan soon find a good and equitable way to resolve the outstanding border issues.
    •  May the Swiss support in the water, health, economic and local governance sectors help make my first two wishes come true!

    Чоң рахмат!
    I wish you all a wonderful anniversary evening.
    Thank you!

    Address for enquiries

    FDFA Communication
    Federal Palace West Wing
    CH-3003 Bern, Switzerland
    Tel. Press service: +41 58 460 55 55
    E-mail: kommunikation@eda.admin.ch
    Twitter: @SwissMFA

    Publisher

    Federal Department of Foreign Affairs
    https://www.eda.admin.ch/eda/en/home.html

    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: PM to visit Maharashtra on 26 September

    Source: Government of India

    PM to visit Maharashtra on 26 September

    PM to lay foundation stone and dedicate to nation various projects worth over Rs. 22,600 crore

    PM to dedicate to nation three PARAM Rudra Supercomputers

    PM to launch and dedicate to nation various initiatives of petroleum and natural gas sector worth Rs. 10,400 crore

    PM to inaugurate Solapur Airport

    PM to dedicate to nation Bidkin Industrial Area

    Posted On: 25 SEP 2024 2:28PM by PIB Delhi

    Prime Minister Shri Narendra Modi will visit Pune, Maharashtra on 26th September. At around 6 PM, from District Court Metro Station, he will flag off the Metro train scheduled to run from District court to Swargate, Pune. Thereafter at around 6:30 PM, he will inaugurate, lay the foundation stone and dedicate to the nation various projects worth over Rs. 22,600 crore.

    The inauguration of Pune Metro section of District Court to Swargate will mark the completion of Pune Metro Rail Project (Phase-1). The cost of the underground section between District Court to Swargate is around Rs 1,810 crore.

    Further, Prime Minister will also lay the foundation stone for Swargate-Katraj Extension of Pune Metro Phase-1 to be developed at the cost of around Rs 2,950 crore. This southern extension of around 5.46 km is completely underground with three stations namely Market Yard, Padmavati and Katraj.

    Prime Minister will lay the foundation stone for the Memorial for Krantijyoti Savitribai Phule’s First Girls’ School at Bhidewada.

    In line with his commitment to make India self-reliant in the field of Supercomputing technology, Prime Minister will dedicate to the nation three PARAM Rudra Supercomputers worth around Rs. 130 crore, developed indigenously under the National Supercomputing Mission (NSM). These supercomputers have been deployed in Pune, Delhi and Kolkata to facilitate pioneering scientific research. Giant Metre Radio Telescope (GMRT) in Pune will leverage the supercomputer to explore Fast Radio Bursts (FRBs) and other astronomical phenomena. Inter University Accelerator Centre (IUAC) in Delhi will enhance research in fields like material science and atomic physics. S.N. Bose Centre in Kolkata will drive advanced research in areas such as physics, cosmology, and earth sciences.

    Prime Minister will also inaugurate a High-Performance Computing (HPC) system tailored for weather and climate research. This project represents an investment of Rs. 850 crore, marking a significant leap in India’s computational capabilities for meteorological applications.  Located at two key sites, the Indian Institute of Tropical Meteorology (IITM) in Pune and the National Center for Medium Range Weather Forecast (NCMRWF) in Noida, this HPC system has extraordinary computing power. The new HPC systems are named ‘Arka’ and ‘Arunika,’ reflecting their connection to the Sun. These high-resolution models will significantly enhance the accuracy and lead time of predictions related to tropical cyclones, heavy precipitation, thunderstorms, hailstorms, heat waves, droughts, and other critical weather phenomena.

    Prime Minister will launch and dedicate to the nation various initiatives of petroleum and natural gas sector worth Rs. 10,400 crore. These initiatives will focus on energy, infrastructure, safety and convenience of truck and cab drivers, cleaner mobility and a sustainable future.

    To enable ease of driving, Prime Minister will launch the Way Side Amenities for truck drivers at Chhatrapati Sambhajinagar, Maharashtra; Fatehgarh Sahib, Punjab; Songadh, Gujarat; Belagavi and Bangalore Rural, Karnataka. With the objective of developing modern facilities for the comfortable journey break at one place designed to cater to the needs of truckers and cab drivers during their long journeys, way side amenities such as affordable boarding and lodging facilities, clean toilets, safe parking space, cooking area, WiFi, Gym, etc. are being developed at a cost of around Rs. 2,170 crore at 1,000 retail outlets.

    To develop multiple energy choices like petrol, diesel, CNG, EV, CBG, Ethanol blended petrol (EBP), etc. at one retail outlet, Prime Minister will launch Energy Stations. Nearly 4,000 energy stations would be developed over Golden Quadrilateral, East-West and North-South Corridors and other major highways over next  5 years at a cost of around Rs. 6000 crore. Energy stations will help in providing seamless mobility through provision of alternate fuels under one roof to the energy seeking customers.

    To facilitate smooth transition to Green Energy, De-carbonization and Net Zero Emission and reducing the range anxiety of Electric Vehicle drivers, Prime Minister will dedicate to the nation 500 EV charging facilities. Further, 10,000 EV Charging stations (EVCS) are being targeted to be developed by FY 2025 at an estimated cost of Rs. 1,500 crore.

    Prime Minister will dedicate to the nation 20 Liquefied Natural Gas (LNG) stations across the country including 3 in Maharashtra. To promote the adoption of clean fuel such as LNG for long distance transportation, 50 LNG Fuel Stations will be developed in various states of the country by Oil and Gas companies at a cost of around Rs. 500 crore.

    Prime Minister will also dedicate to the nation 1500 E20 (20% ethanol blended) petrol retail outlets worth around Rs 225 crore.

    Prime Minister will inaugurate the Solapur Airport which would significantly improve connectivity, making Solapur more accessible to tourists, business travellers and investors. The existing terminal Building of Solapur has been revamped to serve around 4.1 lakh passengers annually.

    Prime Minister will dedicate to the nation Bidkin Industrial Area, a transformative project covering an expansive 7,855 acres under the National Industrial Corridor Development Program of Govt. of India, situated 20 kms south of Chhatrapati Sambhajinagar in Maharashtra. The project developed under Delhi Mumbai Industrial Corridor holds immense potential as a vibrant economic hub in the Marathwada region. Central Government has approved this project with an overall project cost of over Rs. 6,400 crore for development in 3 phases.

    ***

    MJPS/ST/SKS

    (Release ID: 2058558) Visitor Counter : 99

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: India to have a trade promotion office in Sydney: Shri Piyush Goyal

    Source: Government of India

    India to have a trade promotion office in Sydney: Shri Piyush Goyal

    Make in India has been a resounding success: Shri Goyal

    India and Australia working to strengthen ECTA through CECA: Shri Goyal

    Posted On: 25 SEP 2024 12:36PM by PIB Delhi

    Union Minister for Commerce and Industry Shri Piyush Goyal announced the setting up of an office for trade promotion in Sydney, Australia with representatives of Invest India, NICDC, ECGC, other officials related to trade and tourism along with the private sector represented by CII. While addressing a joint press conference at Adelaide today along with the H.E. Don Farrell, Minister for Trade & Tourism, Australia, Minister Goyal said these offices will act as a bridge between investors and businesses on both sides. Minister Goyal said the focus is to upscale the partnerships in trade, investment, tourism and technology.

    Minister Goyal stated that India celebrates ‘10 years of Make in India’ today. The programme provided a whole of the approach in addressing the challenges of the manufacturing sector, he said. It provided provisions for ‘Plug and play’ for infrastructure, single window system for approvals, easing compliance burden, decriminalising laws, opening up FDI in newer sectors and encouraging the startup ecosystem, signifying a multi-pronged approach to attract manufacturing in India.

    Minister Goyal noted a lot of promise between the Make in India Programme of India and the Make in Australia programme of Australia to exchange technologies, opportunities and encourage businesses to work with each other. The Minister added that enhanced cooperation in education, skill development, investment, tourism, critical minerals, green ecosystem for sustainability are areas where the partnership holds significant potential.

    Speaking about his visit to Australia, Minister Goyal said that for the first time, the leadership of both the CII and FICCI were represented in Australia, signifying the importance of the partnership. He added that the unprecedented ties between the two countries with 9 in-person meetings of senior leaders being held since May 2022 reflected the deep-bonding of leaders and supplements the business-business and people-people to connect.

    Minister Goyal added that India and Australia are working towards strengthening Economic-Cooperation and Trade Agreement (ECTA) through Comprehensive Economic Cooperation Agreement (CECA). He said that the ECTA agreement has resulted in market access to both sides and resulted in significant increase in merchandise trade.

    Shri Goyal highlighted Australia’s role in India’s journey through greater trade, exchange of technologies, common goals for sustainability, and provision of high-tech services and investment. “India offers advantages of 4 Ds- democracy, demographic dividend, demand and decisive leadership with leadership under Shri Narendra Modi, willing to reform, perform and transform the country”, further added the Minister.

     ***

    AD/VN/CNAN

     

    (Release ID: 2058513) Visitor Counter : 92

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: NLDSL Unveils ULIP Hackathon 2.0 and launches Track Your Transport App to Tackle Key Challenges in Logistics

    Source: Government of India

    NLDSL Unveils ULIP Hackathon 2.0 and launches Track Your Transport App to Tackle Key Challenges in Logistics

    ULIP Hackathon 2.0 Registration Begins: A Platform for Innovation in Logistics and Supply Chain

    Track Your Transport App Launched to Simplify Logistics

    Posted On: 25 SEP 2024 11:49AM by PIB Delhi

    NICDC Logistics Data Services Ltd. (NLDSL) announces the launch of Unified Logistics Interface Platform (ULIP) Hackathon 2.0, a competitive event aimed at fostering innovation and developing digital solutions to tackle pressing challenges in the logistics industry. The Hackathon was officially launched at an event held under the chairmanship of Shri Rajeev Singh Thakur, Additional Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), at Vanijya Bhawan.

    The launch event witnessed more than 1800 attendees joining the kick-off physically and virtually, reflecting widespread industry interest in the initiative. Hackathon 2.0 marks a significant step in leveraging innovation and technology to reshape and streamline India’s logistics and supply chain sector.

    Building on the success of ULIP Hackathon 1.0, which resulted in the development of cutting-edge solutions, Hackathon 2.0 invites developers, start-ups, and industry players to come together once again. The focus of this year’s hackathon is on addressing key logistics challenges such as sustainability, complex supply chain processes, unified documentation, and multimodal logistics optimization.

    Speaking on the occasion, Shri Rajeev Singh Thakur, said, “We are excited to launch ULIP Hackathon 2.0, an initiative that fosters creativity, problem-solving, and collaboration. With the tremendous success of Hackathon 1.0, we are confident that this year’s event will generate even more innovative solutions to shape the future of India’s logistics ecosystem.”

    As part of its ongoing commitment to transforming the logistics sector, NLDSL also announced the launch of the Track Your Transport (TYT) application powered by ULIP. This app is designed to empower small-scale transporters and traders by addressing various facets of logistics management, from providing tracking of cargo via all modes to verification of vehicles and drivers.  TYT eliminates the need for heavy IT infrastructure investments, making it a cost-effective and user-friendly tool for the unorganized sector.

    Shri Rajat Kumar Saini, CEO & MD, NICDC and Chairman, NLDSL highlighted that the TYT app is a key milestone in their efforts to bring digital empowerment to small traders and transporters. He stated, “The app provides the tools necessary to enhance operational efficiency and visibility, ensuring that small players can compete on a level playing field with the rest of the industry.” 

    Track Your Transport app can be accessed via the web at www.trackyourtransport.in or downloaded through Android, iOS, and Digital India App Stores.

    About ULIP:

    ULIP is a digital gateway that allows industry players to access logistics-related datasets from various Government systems through API-based integration. Currently, the platform integrates with 37 systems from 10 ministries via 118 APIs, covering over 1800 data fields. Private sector participation in ULIP has been instrumental in amplifying its impact, with over 1000 companies registered on the ULIP portal (www.goulip.in). Additionally, these companies have developed over 100 applications, leading to more than 54 crore API transactions.

    About NLDSL:

    NICDC Logistics Data Services Ltd. (NLDSL) has been at the forefront of transforming India’s logistics sector through its innovative solutions like Logistics Data Bank (LDB) and ULIP. By leveraging advanced technology, NLDSL has enhanced efficiency, transparency, and digitization within the industry.

    The company was established on December 30, 2015, with the primary objective of harnessing Information and Communication Technology (ICT) to enhance efficiency in the Indian logistics sector. It is a joint venture between Government of India represented by National Industrial Corridor Development and Implementation Trust (NICDIT) and Japanese IT major NEC Corporation.

    ***

    AD

    (Release ID: 2058492) Visitor Counter : 13

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Interaction with Forecasters & Economists on GDP and CPI held on 24th September,2024 in Mumbai

    Source: Government of India (2)

    Posted On: 25 SEP 2024 9:17AM by PIB Delhi

    Ministry of Statistics and Programme Implementation (MoSPI) organized the interaction with Forecasters & Economists of GDP and CPI on 24th September,2024 in Mumbai. The interaction was attended by Shri Ajay Seth, Secretary, Department of Economic Affairs, Dr. V. Anantha Nageswaran, Chief Economic Advisor, Shri Nilesh Shah, Member of Economic Advisory Council to the Prime Minister of India, eminent economists – Shri Ganesh Kumar, Member, National Statistical Commission, Ms. Ila Patnaik, Former Principal Economic Advisor, Shri Deepak Mishra, Director, ICRIER among others. The event was joined by more than 50 forecasters & economists of various Organizations/Institutions such as Reserve Bank of India (RBI), Citibank, ICICI Prudential AMC, Sunidhi Securities & Finance Ltd, Bloomberg Economics, Nirmal Bang Institutional Equities, Nirmal Bang, RBL Bank, Motilal Oswal Financial Services, Morgan Stanley, Nomura, ICICI Bank, ICICI Bank Ltd, etc.

    While setting the context to the event, Dr. Saurabh Garg, Secretary, Ministry of Statistics and      Programme Implementation highlighted various macro-economic indicators released by MoSPI and also updated about the Base Year revision initiated for GDP, CPI and IIP. He also appraised the participants about the newly launched eSankhyiki portal for easy access of time series data on the released indicators. Secretary, MoSPI further informed the participants that MoSPI is planning to launch web-based CAPEX survey to fill the gap in the Private Sector investment.

    This was followed by two subject specific presentation detailing present methodology and updates on base revision exercises undertaken for GDP and CPI. Dr. V Anantha Nageswaran, Chief Economic Advisor, appreciated the initiative of MoSPI for CAPEX Survey. Shri Nilesh Shah, Member, EAC-PM, MD Kotak Mahindra Asset Management Company Limited suggested MoSPI to look for avenues of improvement to ensure data accuracy and reduce time lag of release.

    Shri Ajay Seth, Secretary, Department of Economic Affairs, Government of India suggested availability of timely and consistent data for better clarity, investing, business and policy decisions. He emphasized use of advanced technologies for better data governance.

    An open house discussion ensued afterwards which witnessed enthusiastic participation from the forecasters and economists. Based on the discussion, the following major suggestions emerged:

    • Frequent Household Consumption Expenditure Surveys may be conducted to ensure frequent base revision of Consumer Price Index and other macro-economic indicators. Availability of old indices for chain linking was also requested by users.
    • Spatial dimension of GDP may also be given adequate emphasis in terms of dis-aggregations like urban /rural, District domestic product etc.
    • Attempts may be made to reduce discrepancy in estimation of GDP from two approaches.
    • Possibility of better coverage of services in the revised series of CPI may be explored. Request for frequent such interactions, to understand the methodologies of data collection of education, health services and data for housing index, was also made.
    • To have a uniform understanding of core inflation, MoSPI may explore compilation of Core inflation
    • Lag for GDP data release may be reduced. Release time of these indices may be changed to provide sufficient time for analysis by the users on the same day.
    • Employer provided dwellings may be excluded from CPI to ensure consistency in the data. The methodology for compilation of Housing index may be re-visited.

    The participants commended the initiative of MoSPI for organizing this interaction which provided greater clarity and better understanding among users and suggested MoSPI to organize frequent interactions.

    ****

    MG/SB/DP

    (Release ID: 2058437) Visitor Counter : 35

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Minister of State (I/C), Ayush and Minister of State for Health and Family Welfare, Shri Prataprao Jadhav reviews programs undertaken under National Health Mission

    Source: Government of India (2)

    Posted On: 25 SEP 2024 3:13PM by PIB Delhi

    Union Minister of State, Shri Prataprao Jadhav conducted a pivotal review meeting on the National Health Mission (NHM) with senior officials of the Union Health Ministry and state officials from Punjab, Karnataka, and West Bengal, here yesterday. Officers from National Health Authority and Ministry of Ayush were also present.

    The agenda encompassed a comprehensive assessment of Financial Progress and Physical progress under National Health Mission including Infrastructure projects and human resources, 15th Finance Commission, Emergency Covid Response Package, Pradhan Mantri Ayushman Bharat Health Infrastructure Mission, and Progress under AYUSH.

    Shri Jadhav listened to the suggestions given by the States while also reiterating the need for States to comply with guidelines and ensure efficient utilization of funds being given by Center under various schemes. He further emphasized the need for collaboration and effective communication among states and Centre to address issues and improve healthcare services across the nation. He urged all officials to work diligently towards achieving the objectives of NHM for better health outcomes.

    Shri Saurabh Jain, Joint Secretary, MoHFW; Shri Harsh Gupta, Principal Secretary Health, Karnataka; Dr Naveen, Shri Ghanshyam Thori and Shri Abhishek Tiwary (MDs NHM of Karnataka, Punjab and West Bengal respectively) and senior officials of the Union Health Ministry were present on the occasion.

    ***

    MV

    HFW/ MoS NHM Review/25th September 2024/3

    (Release ID: 2058581) Visitor Counter : 51

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Measures by MCA to address concerns and guide stakeholders for compliances on MCA21 Portal

    Source: Government of India (2)

    Posted On: 25 SEP 2024 10:33AM by PIB Delhi

    The Ministry of Corporate Affairs has taken several steps towards Ease of Doing Business, including easy and quicker process of incorporation and exit of companies and Limited Liability Partnerships (LLPs), expeditious approval of mergers etc.

    In this connection, for regulatory compliances by the Companies and LLPs on MCA-21 Portal, the MCA has a system of regular review of the concerns of the Stakeholders raised through emails, helpdesk system, ticketing tools, chatbot and Social Media handles.

    As a further measure of resolving issues of urgent nature, a special team has been constituted which will look into the grievances for efficient disposal, suggest systemic solution, if required, and provide better guidance to the stakeholders for their compliances on MCA-21 Portal.

    ****

    NB/AD/KMN

    (Release ID: 2058445) Visitor Counter : 168

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: STL attends Global Sustainable Transport Forum in Beijing (with photos)

    Source: Hong Kong Government special administrative region

    STL attends Global Sustainable Transport Forum in Beijing (with photos)
    STL attends Global Sustainable Transport Forum in Beijing (with photos)
    ***********************************************************************

         The Secretary for Transport and Logistics, Mr Lam Sai-hung, attended the Global Sustainable Transport Forum (2024) hosted by the Ministry of Transport of the People’s Republic of China in Beijing today (September 25).      This year’s forum, themed “Sustainable Transport: Logistics Connecting the World”, focuses on key topics including global governance, connectivity, common development, innovation-driven development and eco-sound development.     Mr Lam participated in the forum’s opening ceremony and a plenary session this morning. In the afternoon, he delivered a speech at a thematic session titled Connectivity – Strengthening Cooperation in Governance and Emergency Response, and Building Resilient International Logistics and Supply Chains, in which he mentioned the need to strengthen the resilience of global logistics supply chains in four directions, namely building extensive networks, upgrading technologies, exchanging information and deepening co-operation.     “The international order is constantly changing, making it more important than ever to strengthen the resilience of logistics supply chains. We must construct a comprehensive and extensive transportation network to ensure the logistics network has adequate responsiveness and endurance. Continuous improvements to the technology level of the logistics industry, promotion of supply chain digitisation, seamless connections between various aspects, as well as the continuous strengthening of regional logistics co-operation will help enhance the resilience of logistics supply chains,” Mr Lam said.     Mr Lam then attended a Ministers’ Forum titled Global Governance – Fostering a Global Sustainable Transport Partnership to exchange views with representatives from transport authorities and related enterprises of various countries and regions. After that, he met with Vice Minister of Transport Mr Li Yang, and briefed him on Hong Kong’s latest developments, including aviation, maritime matters, usage of the Hong Kong-Zhuhai-Macao Bridge as well as the Guangzhou-Shenzhen-Hong Kong Express Rail Link.     Mr Lam departed for Tianjin in the evening, and will attend the China Air Finance Development (DFTP) Summit tomorrow (September 26).

     
    Ends/Wednesday, September 25, 2024Issued at HKT 18:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: From 12 to 21: how we discovered connections between the Twelve and BlackJack groups

    Source: Securelist – Kaspersky

    Headline: From 12 to 21: how we discovered connections between the Twelve and BlackJack groups

    While analyzing attacks on Russian organizations, our team regularly encounters overlapping tactics, techniques, and procedures (TTPs) among different cybercrime groups, and sometimes even shared tools. We recently discovered one such overlap: similar tools and tactics between two hacktivist groups – BlackJack and Twelve, which likely belong to a single cluster of activity.

    In this report, we will provide information about the current procedures, legitimate tools, and malware used by the BlackJack group, and demonstrate their similarity to artifacts found in Twelve’s attacks. We will also analyze another recently discovered activity that has much in common with the activity of the potential cluster.

    Who are BlackJack?

    BlackJack is a hacktivist group that emerged at the end of 2023, targeting companies based in Russia. In their Telegram channel, the group states that it aims to find vulnerabilities in the networks of Russian organizations and government institutions.

    As of June 2024, BlackJack has publicly claimed responsibility for over a dozen attacks. Our telemetry also contains information on other unpublicized attacks, where indicators suggest BlackJack’s involvement.

    The group only uses freely available and open-source software, such as the SSH client PuTTY or the wiper Shamoon, which has been available on GitHub for several years. This confirms that the group operates as hacktivists and lacks the resources typical of large APT groups.

    Wiper – Shamoon

    BlackJack uses a version of the Shamoon wiper written in Go in their attacks. Static analysis helped us extract the following characteristic strings:

    Strings from the wiper

    During our research, we found Shamoon samples in the following locations:

    Ransomware – LockBit

    In addition to the wiper, BlackJack also uses a leaked version of the LockBit ransomware to harm their victims.

    Verdicts with which BlackJack’s version of LockBit was detected, source: Kaspersky Threat Intelligence Portal (TIP)

    We found the ransomware in the same directories as the wiper:

    The network directories for placing the malware were not chosen at random. This allows the attackers to spread their samples across the victim’s infrastructure and later place them in C:ProgramData for further execution in the system.

    To launch LockBit, the attackers use scheduled tasks containing the following command line (the 32-character password may vary depending on the host or victim):

    The ransom note only contains the name of the group:

    Contents of the LockBit ransom note

    This confirms that the group is not aiming for financial gain, but rather to cause damage to the compromised organization.

    Ngrok

    To maintain persistent access to compromised victim resources, the attackers use tunneling with the common ngrok utility. We found the utility and its configuration file in the following directories:

    Paths Description
    Archive containing executable and configuration files.
    Ngrok executable file.
    Configuration file containing an authentication token and other information.

    Here is a list of commands related to ngrok execution:

    Commands Description
    Ngrok authentication process.
    Launches the ngrok.exe process and creates a TCP tunnel on port 3389 (RDP).
    Alternative for creating a TCP tunnel on port 3389 (RDP).
    Creates a UDP tunnel on port 3389 (RDP).

    Radmin, AnyDesk, PuTTY

    To ensure remote access to the system, BlackJack installs various remote access tools (RATs). Judging by the incidents we studied, the attackers initially attempted to use the Radmin utility, but all the external connections we observed were made through AnyDesk.

    During the RAT installation, the attackers created the following services:

    Service name Launch commands
    Radmin Server V3
    raddrvv3
    AnyDesk Service

    Additionally, the popular SSH client PuTTY was used to connect to certain hosts within the infrastructure.

    Connection with the Twelve group

    The malware and legitimate tools described above significantly overlap with the arsenal of the hacktivist group Twelve. This group also relies on publicly available software and does not use proprietary tools in its attacks.

    Most of the connections and overlaps between the two groups were discovered through Kaspersky Security Network (KSN) telemetry and Kaspersky Threat Intelligence solutions. KSN telemetry is anonymized data from users of our products who have consented to share and process this information.

    Malware sample similarities

    Let’s first examine the similarities between the ransomware and wiper samples from the BlackJack and Twelve groups. Below is the information from the Kaspersky Threat Intelligence Portal (TIP) on the LockBit ransomware file discovered while investigating the BlackJack attacks:

    BlackJack file information

    The sample is named bj.exe, presumably an abbreviation for the BlackJack group. Among other things, the TIP page shows a list of similar files compiled using the Similarity technology, which identifies files with similar patterns. Although the sample used by the hacktivists was created with the leaked LockBit builder, Similarity first identifies the most closely related files. Note the first hash in the list: 39B91F5DFBBEC13A3EC7CCE670CF69AD.

    List of similar files

    Checking this hash on the Threat Intelligence Portal reveals that it was mentioned in our recent investigation into the Twelve group.

    This suggests that the two groups use similar LockBit samples. Additionally, analysis of the configuration of the two samples (BlackJack and Twelve) showed that their exclusion lists (files, directories, and extensions to leave unencrypted) are identical.

    Just like the BlackJack’s LockBit sample, the Twelve group’s ransomware also has a list of similar files.

    List of similar files

    Upon checking one of them (underlined in red on the screenshot), we found that the file was also named bj.exe. This means that it is another instance of the BlackJack group’s ransomware, further indicating that the two groups use nearly identical LockBit samples.

    Below is a list of paths where LockBit samples were found during the investigation of incidents related to the BlackJack and Twelve groups:

    BlackJack Twelve
    [DOMAIN]netlogon [DOMAIN]netlogon
    C:ProgramData C:ProgramData
    Sysvoldomainscripts –

    Summing up the ransomware analysis, we can draw the following conclusions:

    • Both groups use similar LockBit ransomware samples;
    • The paths where these samples were found are almost identical.

    Let’s continue searching for further connections.

    Wiper reuse

    The study of wiper samples from incidents involving the BlackJack and Twelve groups also revealed similarities between them.

    Both wipers overwrite the MBR record with almost identical placeholder strings:

    MBR placeholder of the BlackJack wiper

    MBR placeholder of the Twelve wiper

    By analyzing the BlackJack wiper on the Threat Intelligence Portal, we found that in some cases it was extracted from the following archive:

    Information about the archive containing the BlackJack wiper

    Examining the archive, we found the Chaos ransomware – 646A228C774409C285C256A8FAA49BDE:

    Ransomware file in the archive

    Moreover, this file was mentioned in our report on the Twelve group. That is, malware from both groups is distributed in the same archive.

    Checking the file names and paths, we discovered a familiar network directory sysvoldomainscript.

    File names and paths

    In addition, during our investigation of attacks carried out by the Twelve group, we also found the use of Shamoon-based wipers. Moreover, according to KSN data, a specific variant of Shamoon, which was involved in BlackJack group attacks, was also seen in some Twelve attacks.

    Similar to the analysis of the LockBit ransomware, we decided to study the paths where the wipers were found in incidents related to the BlackJack and Twelve groups. As you can see from the table below, these paths are identical:

    BlackJack Twelve
    Sysvoldomainscripts Sysvoldomainscripts
    [DOMAIN]netlogon [DOMAIN]netlogon
    C:ProgramData C:ProgramData

    Summing up the analysis of the Shamoon wiper, we can confidently say that both groups use it or its components in their attacks and place them in identical directories. Moreover, the version of Shamoon that became available as a result of the leak was written in C#, whereas the variants of this wiper used in the BlackJack and Twelve attacks were rewritten in Go, further supporting the connection between these groups.

    Familiar commands and utilities

    In addition to the connections identified through analyzing the malware samples, we also discovered overlaps in the commands and tools used by both groups.

    Below are the commands found in the BlackJack and Twelve group attacks.

    Creating scheduled tasks:

    BlackJack Twelve

    Clearing event logs:

    BlackJack Twelve

    As you can see, apart from the names of the executable files, the commands are identical.

    The list of publicly available utilities used by the groups also partially overlaps:

    BlackJack Twelve
    Mimikatz
    PsExec
    Ngrok
    PuTTY
    XenAllPasswordPro
    Radmin
    AnyDesk    		 Mimikatz
    PsExec
    Ngrok
    PuTTY
    XenAllPasswordPro
    chisel
    BloodHound
    adPEAS
    PowerView
    RemCom
    CrackMapExec
    WinSCP

    New activity

    During our research, we also discovered another activity that closely resembles the ones described above. At this point, we cannot definitively determine which specific group is responsible for this activity; however, the malware samples and procedures clearly indicate that the source is the activity cluster under investigation.

    The similarities we found are listed below:

    1. The discovered wiper contains the characteristic strings we saw in the Twelve and BlackJack wipers and also creates a similar MBR record.
    2. The wiper is spread through the sysvol network directory and saved using a scheduled task, which copies it to that same C:ProgramData directory.
    3. As in the BlackJack and Twelve attacks, before wiping data with the wiper, the attackers launch the ransomware ( enc.exe), which is also copied from the network folder to C:ProgramData:
    4. As in Twelve group attacks, the execution of the wiper, as well as copying the wiper and ransomware from the network directory to the C:ProgramData folder, are performed using scheduled tasks:
    Unknown threat Twelve

    Also during the investigation of this activity, various artifacts and procedures were discovered that we had not seen in the BlackJack and Twelve attacks:

    1. Using the PowerShell cmdlet Get–MpPreference to gather information about disabled Windows Defender features.
    2. Creating scheduled tasks:
      Task name Command line Description
      run1 Executing the wiper from the
      C:ProgramData folder
      def Collecting information about disabled
      Windows Defender features
    3. Using WMIExec for lateral movement into the root directory.

    Victims

    The mentioned malware samples, utilities, and command lines were found in the infrastructures of government, telecommunications, and industrial companies in Russia.

    Attribution

    Based on our research, we cannot be sure that the same actors are behind the activities of both groups. However, we suspect that the BlackJack and Twelve groups are part of a unified cluster of hacktivist activity aimed at organizations located in Russia.

    Conclusion

    In this study, we demonstrated that the BlackJack and Twelve groups have similar targets and use similar malware, distributing and executing it using the same methods. At the same time, they are not interested in financial gain but aim to inflict maximum damage on target organizations by encrypting, deleting, and stealing data and resources.

    Indicators of compromise

    Wiper – Shamoon

    ED5815DDAD8188C198E0E52114173CB6                    wip.exe/wiper.exe
    5F88A76F52B470DC8E72BBA56F7D7BB2               letsgo.exe

    Ransomware – LockBit

    DA30F54A3A14AD17957C88BF638D3436                 bj.exe
    BF402251745DF3F065EBE2FFDEC9A777                  bj.exe

    File paths

    Sysvoldomainscriptswip.exe
    [DOMAIN]netlogonwip.exe
    C:ProgramDatawip.exe
    Sysvoldomainscriptsbj.exe
    [DOMAIN]netlogonbj.exe
    C:ProgramDatabj.exe
    C:ProgramDataletsgo.exe
    [DOMAIN]SYSVOL[DOMAIN]SCRIPTSletsgo.exe
    C:ProgramDataenc.exe
    [DOMAIN]SYSVOL[DOMAIN]SCRIPTSenc.exe
    C:Users[USER]Downloadsngrok-v3-stable-windows-amd64.zip
    C:Program FilesWindows Media Playerngrok.exe
    C:Users[USER]AppDataLocalngrokngrok.yml

    Scheduled task names

    copy
    run1
    go2
    im
    def

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Text of the Vice-President’s address at the 2nd edition of Uttar Pradesh International Trade Show at Gautam Buddha Nagar, Uttar Pradesh

    Source: Government of India

    सभी को नमस्कार, 

    The largest state of the Union is blossoming and flourishing under his dynamic governance. Yogiji has turned out to be a game changer for this state, and that will help the nation. I am particularly amazed at his 24×7 watchdog governance. 

    Personally, for me, this is an absolute delight to be at the inaugural ceremony of the second edition of UP International Trade Show 2024. I had the good occasion to go around and see for myself. There could not be a greater assurance for a man like me that all is well, things are on the right track. What I witnessed was beyond my concept, imagination, and dream. I felt I was in the most developed country in the world.

     This is indeed a very well-thought-out platform that not only showcases what is there in India, in Uttar Pradesh, it affords an opportunity for people to snatch those opportunities, to be in touch with the best minds, the artisans, the skilled workers, the products, and personally flourish. My congratulations to the Honourable Chief Minister for being so thoughtful, farsighted, and practical.

     The beginning was made for the first edition by the Honourable President of India, Smt. Droupadi Murmu Ji and in this context, it is my absolute privilege to be part of the second. We are indeed very happy that the trade show will significantly showcase Vietnam as a partner country. As one of Southeast Asia’s robust economies, Vietnam has an impressive GDP of 435 billion US dollars, and we look forward to witnessing their exceptional products and innovative manufacturing practices but I can assure them, they are in the right place, their participation will enormously benefit them and their people to fully exploit their talent and connect with the best artisans and economic potential.

     Friends, this will also be an occasion to get a feel for the rich cultural heritage of Vietnam. They will, ofcourse, everyone will feel the rich heritage of Uttar Pradesh and Bharat, but we will also get a feel for the rich heritage of Vietnam. I had the occasion to have a look at it, full display through captivating traditional music and what a similarity there was with Indian instruments. I am sure there will be enough for them to carry home. The dance performances, it was enriching.

    And it is a state which, in the last few years, is seeing the happiness factor rising. When the happiness factor rises, your appetite is functional.

     My friends from Uttar Pradesh and all over the country who are here will have the occasion to indulge in authentic Vietnamese cuisine. Renowned for its unique flavours, when we look at Vietnam, the savoury delights of Pho and its spring rolls to the mouth-watering Banh Mi, our palates will be treated to a culinary journey. I have had the occasion to know about them and taste them.

    This, in a sense, is a natural partnership if we go into a historical perspective, will surely foster cultural and economic challenges collectively. The exchanges will be rewarding, further enhancing our bilateral relations and strengthening the resolve for a greater role for the Global South in international affairs. 

    It was the visionary leadership of Prime Minister Narendra Modi, that at the G20 platform, he brought on the international radar, the voice of Global South. This is an important event, their participation is memorable, and I am sure they will carry happy memories of this event.

    The exhibition — the scale, the display, the technological penetration, the cultural wealth, each district’s products. I instructed my team that they will, at the micro level, handle each store, each product, so that the nation comes to know it through Sansad TV. Mr. Chief Minister will seek your cooperation. My team will be here this evening. 

    Friends, the synergy between the Prime Minister of India, his vision, coupled with the Honourable Chief Minister of Uttar Pradesh, Yogi’s execution, sharp execution, execution which has no accommodation for corruption, no tolerance for inefficiency, this has transformed Uttar Pradesh into Uttam Pradesh. The sustained efforts of Yogiji are leading to another milestone development and achievement, soothing to the entire nation, Uttar Pradesh is fast becoming Udyam Pradesh of the country. 

    This venue is very soothing for development. This venue was also witness to the recently concluded SEMICON India 2024 conference, where the Honourable Prime Minister outlined India’s vision of making the semiconductor industry, and that is going to be the foundation of Viksit Bharat. The conference was a crucial step towards realising India’s goal of becoming a global hub for semiconductor manufacturing.

     Let me, friends, come to the state of the nation, the state of Bharat. For ages, India has been the cradle of civilisation, a crucible of innovation, and a global hub of learning. Our Vedas are a gold mine of knowledge and information. India takes pride in being one of the oldest civilisations with 5,000 years of civilisational ethos. We lost our way somewhere in between, but now we are on our way to regaining it  and that too fast enough to be a beacon for the planet in several ways in this century. 

    Nothing can be more satisfying for me to note than that in this regaining, the largest state of the union, under the leadership of Yogi Adityanath, is playing with the straight bat on the front foot to deliver for the nation. Look at a decade ago; the scenario was alarmingly worrisome. The economy was staggering, and the mood of the nation was shaky. From every aspect, governance was challenging for the citizens but what a 360-degree change, soothingly. 

    The last decade is marked by unprecedented transformation — a transformation for the better. Bharat has emerged as the most buoyant economy in the world. It is now the favourite global destination for investment and opportunity, with an ecosystem of hope and possibility all-pervasive in India. Undoubtedly, we are set to regain our pristine glory. India is now a global happening place, and Uttar Pradesh is bubbling with activity. Activity in every sector: infrastructure, growth, industry, and innovation. 

    Today, Bharat is a near 4 trillion dollar economy that has 8% growth prospects for decades to come,  world institutions have analysed. In 2 years, our economy will march ahead of that of Japan and Germany to be the world’s third-largest economy. Incremental infrastructure growth is reflected in 8 new airports annually. The Honourable Chief Minister has indicated the scenario here. Unbelievable achievement! Look at the express highways, virtually doubling, and the state will be on the global map when it comes to the world-class largest airport in Jewar.

     It’s a state where dreams are fructified into ground realities. That’s what I’ve seen. Every 2 years, 3 or 4 metro systems are getting added. Friends, there is daily laying of 28 km of highways and 12 km of railway tracks. In PM Modi’s third term, historic term, 12 new industrial zones are taking shape to boost manufacturing. The nation is fully geared to tap the benefits of artificial intelligence, of electric mobility, green hydrogen, space, and semiconductors. For want of time, I am not focusing on it, but we are among the few countries focusing on the green hydrogen mission, quantum computing. We are in single digits when it comes to the exploitation of 6G technology commercially.

     The journey towards Viksit Bharat is well on track. It will fructify in 2047, if not earlier. The mood of the nation is now one of hope and possibility, with accolades pouring in from global institutions. 

    I have had a long political career, having been elected to Parliament in 1989 and a minister in 1990. The World Bank and IMF are praising us to heights, and rightly so. 

    Based on factual premise, our digitisation and technological penetration is turning out to be a global model for emulation. A decade of Make in India initiative has yielded significant results. Following successes in agriculture and services, India is now poised for manufacturing growth. State governments, UP being in the lead, are competing to attract investments by improving business conditions. 

    Sir, nothing is more important for investment than law and order. Law and order defines democracy and the Chief Minister of Uttar Pradesh, Yogi Adityanath defines law and order. It is in this soothing ecosystem that UP has emerged as an MSME hub by leveraging the sector strengths to create a robust supply chain.

    Technology has enabled greater participation from skilled youth in tier two town and rural areas. 

    Imagine skill mapping, skill mapping during challenging, daunting days of COVID-19. You did it. 

    Bharat is now frog leaping from Make in India to conceptualise, design and make in India. We are having our own concept of evolution. We are engaged in design and Make in India. It is encouraging to see multinationals and Indian companies getting in a synergetic stance. They are establishing innovation centres nationwide. Uttar Pradesh is a shining example of it, the defence corridor being one. 

    Micro, small and medium enterprises are much beyond their nomenclature, as I said earlier. This segment is the spine of the economy and a major contributor of human resource employment. 

    Coming to Uttar Pradesh, I state, with that kind of history, cultural background was plagued with law and order challenges, and atmosphere of fear. 

    Not long ago, growth prospects were all time low. And this state now is a beacon of progress and development. The long, long dark tunnel was negotiated with great speed by the Honourable Chief Minister. And there is great light at the end of the tunnel. The tunnel is much behind. From the tunnel, the dark tunnel, the state is on the expressway. 

    On the way to take a flight for higher economy on the largest airport that is coming up in Jewar. The state is full of hope and possibility. The transformation is unbelievable. Normally, people would not undertake it. They would get adjusted to the status quo. Because the challenge was really very, very, very, very daunting. 

    In a sense, there is a complete makeover of Uttar Pradesh. You are regaining its pristine glory in every sense. Because the governance exemplifies transparency, accountability, worth emulation, the kind of handholding of the entrepreneur. 

    And corruption is a word unheard in Uttar Pradesh. Power corridors are fully sanitised. Decisions are fast-tracked and duly tracked. 

    The state is now turning out to be a great strength to the nation. In phenomenal economic upsurge and unprecedented infrastructure growth in the nation, the largest state of Uttar Pradesh is now an asset and a major contributor unlike a scenario that existed a few years ago. 

    Uttar Pradesh aspires and rightly so, and why not? To reach the target of $1 trillion economy by 2027 and will be mightily adding to the dream of Prime Minister Modi to his $5 trillion economy by 2027. As rightly focused by the Honourable Chief Minister, Uttar Pradesh’s advantages include fertile land, young population, religious tourism, and MSMEs. And look at the size of MSMEs. 

    Some countries in the world may not have that population. As you have a number of units, the massive focus on infrastructure, one has to see to believe it. It’s easier to say that yes, six new expressways are being added. 

    It takes time, planning, execution, and funds. This is happening. All this has a Yogi multiplier, Yogi effect, Yogi impact. 

    Noida contributes 10% of U.P. GDP, I’m told, is crucial for economic growth in the industrial base, IT sector, and upcoming projects like Jewar Airport and Film City. But this city has emerged as one of the leading habitations at a global level. The kind of talent that is there in Noida, I know for sure, I come from the legal profession. 

    It’s becoming a favourite destination. Uttar Pradesh, no longer a sleeping giant, no longer a state with a promise. It’s a state in action with its vast resources, burgeoning population, and strategic location. It’s a growth engine in itself, and tied to the larger growth engine of the nation to take the nation forward. 

    I am particularly impressed by the inclusive growth in the country under Prime Minister Modi’s vision. He believes in a plateau kind of a growth. Everyone has to rise in every sector, every social element. U.P. is in line with it. 

    The trade show focuses on a great opportunity for everyone for boosting MSMEs, promoting geographical indications, and GI products. It was with utmost reluctance that I moved fast. Otherwise, one geographical indicator was good enough to take a few hours. Because it has enormous potential of opportunities. What I saw today was not an exhibition. I saw a basket of opportunities for all. 

    This event, friends, aligns with Prime Minister Modi’s vision of an Atma Nirbhar Bharat and embraces the motto, local to global. 

    India’s progress is evident in various sectors. But this is the right epicentre to take it to the next level, local to global. First it was vocal for local, now local to global. 

    I wouldn’t take long, but India is on the rise as never before. The rise is unstoppable. If I quickly take you, metro services have expanded from five cities to 23. 

    We have the world’s second largest metro network. The number of cities with airports has doubled from 70 to 140. India is now the largest connected nation globally with over 800 million broadband users. Digital technologies have enabled initiatives like housing for 170 million, health coverage for 60 million, and loans for 58 million small businesses annually. India records the highest digital financial transactions globally with 13 billion transactions per month. The country boasts the world’s third largest startup ecosystem with 107 unicorns and the third largest purchasing power in the world. 

    The semiconductor industry, which is very critical. It was here that the beginning was made by the Honourable Prime Minister. It is poised by 2026 to surpass 55 billion. I have no doubt this century belongs to Bharat. This century rightly belongs to Bharat. And that being the situation, let us all get together, ladies and gentlemen, because along with Bharat, we are witnessing a new dawn of Uttar Pradesh, a future where the nation stands tall as a global leader in trade, innovation, and cultural heritage. Chief Minister Yogi Adityanath has painstakingly brought about 360 degree improvement. Not easy. I feel tasked. He brought it about in law and order, in development, in cultural revolution, in giving skill to the people, and in bringing happiness to the people. The vision of Prime Minister Modi and passion of Chief Minister Yogi Adityanath are in synergy, preparing this transformation towards the grand mission of a Viksit Bharat by 2047. I have no doubt that this trade show will be a beacon of opportunity, collaboration, and success in our journey ahead. 

    And friends, I conclude by an appeal. एक बहुत बड़ा महायज्ञ भारत में हो रहा है, यह महायज्ञ विकसित भारत के लिए हो रहा है। यह महायज्ञ की पूर्ण आहुति आजादी की शताब्दी का जब महोत्सव होगा तब होगी। इसमें हर किसी को आहुति देनी है और आहुति देने के लिए संकल्प की आवश्यकता है की हम भारतीय हैं, भारतीयता हमारी पहचान है, राष्ट्रवाद हमारा धर्म है। We can never put self or political interest over nationalism.

     

    Thank you so much.

     

    ****

    JK/RC/SM

    MIL OSI Asia Pacific News –

  • MIL-OSI: ChampionX Publishes 2023 Sustainability Report

    Source: GlobeNewswire (MIL-OSI)

    THE WOODLANDS, Texas, Sept. 25, 2024 (GLOBE NEWSWIRE) — ChampionX Corporation (Nasdaq: CHX) announces the release of its 2023 corporate sustainability report. The report captures important information regarding the company’s global operations and strategy to address its four environmental, social, and governance (ESG) priorities: GHG Emissions, Decarbonization Technologies, Sustainable Innovation and Digital Transformation, and Employee Attraction, Retention, and Development.

    “We are proud to publish the ChampionX 2023 Sustainability Report, which showcases our ongoing commitment to responsible business practices and sustainable growth,” said Sivasankaran “Soma” Somasundaram, President and Chief Executive Officer of ChampionX. “This report reflects our relentless focus on improving lives, unlocking energy, and advancing our ESG priorities. Our purpose of Improving Lives is a sustainable advantage, underscored by a continuous improvement mindset that drives us to enhance our operations and deliver value to all our customers.”

    ChampionX is committed to developing initiatives that align with its purpose of Improving Lives by supporting its customers’ carbon-reduction efforts, providing fulfilling career opportunities for its employees, enhancing value for our shareholders, and improving the communities where it operates globally.

    About ChampionX
    ChampionX is a global leader in chemistry solutions, artificial lift systems, and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely, efficiently, and sustainably around the world. ChampionX’s expertise, innovative products, and digital technologies provide enhanced oil and gas production, transportation, and real-time emissions monitoring throughout the lifecycle of a well. To learn more about ChampionX, visit our website at www.championX.com.

    Forward-Looking-Statements

    This press release contains “forward-looking statements” or information. All statements other than statements of historical fact contained herein are forward-looking statements. Forward-looking statements are based on our current expectations, beliefs, and assumptions concerning future developments and conditions and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments and business conditions affecting us will be those that we anticipate. All of our forward-looking statements involve risks and uncertainties (some of which are significant or beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law. Certain information contained herein relating to any goals, plans, intentions, or expectations, including with respect to climate-related goals and related timelines, is subject to change, and no assurance can be given that such goals, plans, intentions or expectations will be met. Similarly, there can be no assurance that our ESG policies and procedures as described herein will continue; such policies and procedures could change, even materially. ChampionX is permitted to determine in its discretion that it is not feasible or practical to implement or complete certain of its ESG initiatives, policies and procedures based on cost, timing, or other considerations.

    Investor Contact:
    Byron Pope – byron.pope@championx.com – 281-602-0094

    Media Contact:
    John Breed – john.breed@championx.com – 281-403-5751

    The MIL Network –

  • MIL-OSI Submissions: Economy – KOF Economic Forecast, autumn 2024: Lack of recovery in Europe clouds prospects for the Swiss economy

    Source: KOF Economic Institute

    The economic recovery in Switzerland and internationally is sluggish. The KOF expects real sports-adjusted gross domestic product (GDP) to increase by 1.1% in 2024. Weak investment is holding back growth, while the pharmaceutical industry is providing a boost. Sports-adjusted GDP will increase by 1.6% in 2025 and 1.7% in 2026. The main reason for the gloomy outlook is the economic weakness in Europe – for instance in Germany, Switzerland’s most important trading partner.

    Export industry suffers from lack of demand from abroad – domestic consumption provides support

    The economic recovery in Switzerland is progressing more slowly than expected. The lack of stimulus from abroad in particular prevent the Swiss economy to fully utilise its production potential in the forecast period. The euro area is struggling to gain momentum. Above all, there are no signs of a significant economic recovery in Germany. In addition, momentum in the USA will slow in the near future. As a result, the Swiss export industry is suffering, particularly the tech industry, while the pharmaceutical industry is one of the few positive exceptions. Swiss exports in total (goods and services) will virtually stagnate until spring and only pick up speed after the first quarter of 2025.

    The weakness in equipment investment remains pronounced. It is only towards the end of the year that they will develop a little more momentum. Bright spots in Switzerland are the solid development of the labour market and the easing of inflation. Private consumption continues to support the economic development and public consumer spending is also making a positive growth contribution this year. Public consumer spending will remain stable over the remainder of the forecast period.

    GDP growth will be less dynamic in the years ahead

    According to the KOF forecast, real Swiss GDP will increase by an annual average of 1.1% this year if major sporting events such as the European Championships in Germany and the Olympic Games in Paris are excluded (1.5% including sporting events). Next year, GDP growth will be 1.6% after adjusting for sporting events (1.2% including sporting events). In its current forecast, the KOF extends the forecast period to 2026 and assumes that GDP will increase by 1.7% (excluding sporting events; 2.1% including sport events) in 2026, a similar rate to the previous year.

    Employment continues to grow – higher real wages allow scope for additional spending

    Employment growth will continue at a solid pace not only in the short term, but also over the next two years. The KOF expects employment to increase by 1% in 2025. This growth is slightly below the medium-term average rate. For 2026, job growth is expected to be almost as high at 1.1%. The unemployment rate will tend to rise slightly but steadily over the forecast period. However, with rates of 2.7% and 2.8% (according to SECO) and 4.6% and 4.7% (according to ILO) in 2025 and 2026, unemployment will not rise at an above-average rate.

    After two years of declines, real wages will rise again this and in the next two years, allowing scope for additional spending. These developments, the solid labour market and high population growth mean that private consumption will remain an important pillar of the Swiss economic development. Depending on how the 13th AHV is financed, it could also provide a small boost to private consumption towards the end of the forecast period.

    Inflation decreases below 1% – further interest rate cuts by the SNB expected

    Inflation will continue to weaken in the forecast period, so that inflation is likely to be 1.2% this year and 0.7% in each of the next two years. While prices for goods and energy have fallen, price increases for services are above average. In view of the disinflationary trend, the Swiss National Bank (SNB) will lower its key interest rates further. The KOF anticipates an interest rate cut of 25 basis points in September and a further cut of the same magnitude in December, bringing the key interest rate down to 0.75%.

    Significant forecast risks due to geopolitical conflicts – Swiss franc could appreciate

    In view of the geopolitical tensions in various regions of the world, the risks to the forecast are currently considerable. The war in Ukraine, but especially the conflict in the Middle East, could have a strong impact on both economic development and inflation if it escalates further. The supply and prices of energy commodities could react strongly. The exchange rate of the Swiss franc is likely to react to a further escalation with an appreciation.

    MIL OSI – Submitted News –

  • MIL-OSI: SCOR Investment Partners unveils second vintage of High-Income Infrastructure Debt Strategy

    Source: GlobeNewswire (MIL-OSI)

    PRESS RELEASE | September 25, 2024 N° 02- 2024

    SCOR Investment Partners unveils second vintage of High-Income Infrastructure Debt Strategy

    SCOR Investment Partners announces the launch of SCORLUX High Income Infrastructure Loans II, a sub-fund of SCORLUX SICAV-RAIF.

    The fund marks the second vintage of SCOR Investment Partners’ multi-investor high-income infrastructure debt strategy, following the successful deployment of its inaugural fund, SCORLUX High Income Infrastructure Loans.

    The new fund offers flexible and innovative unitranche or junior/mezzanine secured debt solutions to infrastructure projects or companies. It provides investors with a diversified portfolio, offering attractive risk-adjusted returns for a sub-investment grade profile.

    SCORLUX High Income Infrastructure Loans II will invest in strategically important infrastructure sectors for EU countries, including renewable energy, digital infrastructure and transportation networks. The fund will also support initiatives related to decarbonization, energy efficiency and green mobility.

    In line with SCOR Investment Partners’ sustainable investment philosophy, the fund’s investments will focus on financing low-carbon activities and those with a positive environmental contribution, such as circular economy initiatives and pollution prevention. SCORLUX High Income Infrastructure Loans II is classified as Article 9 under the European Sustainable Finance Disclosure Regulation (SFDR) and has been granted the LuxFLAG Environment Applicant label. 

    A European Long-Term Investment Fund (ELTIF) and accessible to institutional investors, the fund has already secured an investment commitment of EUR 100 million from the SCOR Group, ensuring strong alignment of interest, and is targeting a total fund size of EUR 500 million.

    Paola Basentini, Head of Infrastructure Debt at SCOR Investment Partners, commented: “Following the success of our first high-income infrastructure debt vintage, we are proud to offer investors access to a new, carefully selected, portfolio of diversified investments. These investments will provide attractive returns while contributing effectively to the energy transition”.

    Louis Bourrousse, CEO of SCOR Investment Partners, added: “We have been an active player in infrastructure debt since 2013. With our second-vintage high-income infrastructure debt fund, we offer access to a valuable niche market that would otherwise be difficult to reach. Our infrastructure team leverages its proven sourcing skills and strong track record to deploy this new fund.”

    With EUR 2.4 billion of investments completed across 80 infrastructure debt transactions since 2013, SCOR Investment Partners’ infrastructure team has been a pioneer in offshore wind, fiber networks, and sustainable datacenters investing. The team focuses on building well-diversified portfolios through secured project structures based on stable, predictable, and generally inflation-protected cash flows.

    – End –

    CONTACTS

    About SCOR Investment Partners

    Financing the sustainable development of societies, together.

    SCOR Investment Partners is the asset management company of the SCOR Group. Created in 2008 and accredited by the Autorité des Marches financiers, the French financial market regulatory body, in May 2009 (no. GP09000006). SCOR Investment Partners has more than 80 employees and is structured around seven management desks: Fixed Income, Corporate Loans, Infrastructure Loans, Direct Real Estate, Real Estate Loans, Insurance-Linked Securities and Fund Selection. Since 2012, SCOR Investment Partners has given institutional investors access to some of the investment strategies developed for the SCOR Group. Assets managed for outside investors totaled EUR 7.6 billion as of June 30, 2024. As of that same date, SCOR Investment Partners had total assets under management of EUR 20.5 billion (including undrawn commitments).

    Visit the SCOR Investment Partners website at: www.scor-ip.com

    This advertising communication, intended exclusively for journalists and professionals of the press and media, is produced for informational purposes only and should not be construed as an offer, solicitation, invitation, or recommendation to purchase any service or investment product.

    Before making any final investment decision, you must read all regulatory documents of the Fund, available free of charge upon request, from the Sales & Marketing team of SCOR Investment Partners SE.

    All content published by the SCOR group since January 1, 2024, is certified with Wiztrust. You can check the authenticity of this content at wiztrust.com.

    Attachment

    The MIL Network –

  • MIL-OSI Submissions: Africa – Averi Finance Endorsed and Supported by the White House and United Arab Emirates (UAE) Government as a Leading Private Investor and Financier of the Energy Sector in Africa

    SOURCE: Averi Finance

    With a proven track record of success, Averi Finance’s management has participated in over 100 projects and transactions, arranging more than $16 billion across 15 emerging market countries.

    WASHINGTON, D.C., United States, September 25, 2024/

    MIL OSI – Submitted News –