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Category: Business

  • MIL-OSI Russia: Bank “ROSSIYA” entered the top 15 most reliable domestic banks

    MIL OSI Translation. Region: Russian Federation –

    Source: Bank “RUSSIA” Russia Bank –

    Press Releases and Events

    09.24.2024

    Bank “ROSSIYA” entered the top 15 most reliable domestic banks

    Bank “ROSSIYA” was included in the rating of reliability of domestic banks, compiled by the analytical department of the financial service Bankiros.ru.

    Reliability rating is formed on the basis of the performance indicators of banks collected by the Central Bank of the Russian Federation. The calculation method is based on data on assets, deposits, loans, and also taking into account liquidity and long-term creditworthiness indicators.

    As analysts note, the rating includes the most reliable financial institutions that meet all the conditions to ensure the safety of clients.

    Back to list

    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://abr.ru/about/nevs/13664/

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

    MIL OSI Russia News –

    September 29, 2024
  • MIL-OSI China: Announcement on Open Market Operations No.190 [2024]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.190 [2024]

    (Open Market Operations Office, September 24, 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 RMB460 billion through quantity bidding at a fixed interest rate on September 24, 2024.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    14 days

    RMB460 billion

    1.85%

    Date of last update Nov. 29 2018

    2024年09月24日

    MIL OSI China News –

    September 29, 2024
  • MIL-OSI New Zealand: Business – Ārohia Trailblazers set to forge path to global markets

    Source: Callaghan Innovation

    Callaghan Innovation will support seven trailblazing Kiwi businesses with bold ideas to succeed in global markets, while forging new pathways for like-minded Kiwi innovators.

    Minister for Science, Innovation and Technology, Judith Collins announced the Ārohia Trailblazer grant recipients at the New Zealand Aerospace Summit today in Christchurch.

    Callaghan Innovation has allocated $17.5 million in co-funding to Astrix Astronautics, Basis NZ,  Emrod, Fabrum Solutions, Toku Eyes, Zincovery Process Technologies and Zenno Astronautics. The Ārohia Trailblazer

    Innovation Grant supports businesses that are benefiting the Aotearoa New Zealand innovation ecosystem, and have global potential.

    “Congratulations to these Kiwi innovators who have developed these impressive, and ambitious innovations with the potential for success here and in global markets.

    “We look forward to following their success as they inspire and enable other, like-minded ambitious innovators,” says Callaghan Innovation Chief Product Officer, Brett Calton.

    “These trailblazers represent diverse sectors, including HealthTech, CleanTech and aerospace, that are growing and have the potential to make a bigger impact globally.”

    About the recipients:

    Astrix Astronautics
    Astronautics | Auckland | astrix.space

    Astrix Astronautics design unique, reliable high performance power systems for small satellites using a state-of-the art inflatable deployment mechanism that delivers solar power to mega-constellations.

    Basis NZ Limited
    Cleantech | Auckland | wearebasis.com

    Basis has developed the world’s first residential Smart Panel, enabling homeowners to reduce their electricity costs, make their homes dramatically safer and lower barriers to adopting electrification technologies (EV, battery & solar).  

    Emrod Limited
    Hi-tech Engineering | Auckland | emrod.energy

    Emrod is pioneering the transition to a wireless, global energy network. Its technology is hardware for wirelessly sending large amounts of power over long distances, safely and efficiently. Just as the internet transformed communication, wireless power will transform the world’s ability to generate and use energy.

    Fabrum Solutions Limited
    Hi-tech Engineering | Christchurch | fabrum.nz

    The fundamental technologies that Fabrum has developed leverage over 20 years of composite and cryogenic discovery. The company has developed a very desirable library of patents and trade secrets, including cryocoolers, refuelling technologies, liquefiers and storage systems for hydrogen, nitrogen, oxygen and LNG. Fabrum operates around the globe with 80% of its product made in New Zealand and exported globally.

    Toku Eyes Limited
    Healthtech | Auckland | tokueyes.com

    Toku has developed a product that can identify individuals with elevated chronic kidney disease risk (CKD) using retinal fundus images only. Commercialisation of this AI medical device will remove the need for blood and urine test to identify high-risk CKD individuals, enabling preventative care to avoid costly debilitating kidney failure.

    Zincovery Process Technologies Limited
    Cleantech | Christchurch | zincovery.com

    Zincovery is looking to bring the first 100% recycled, low carbon and high purity zinc product to the market. This is enabled by their innovative zinc recycling technology that avoids the use of fossil fuels, reducing emissions by up to 95% and processing costs by 45%.

    Zenno Astronautics Limited
    Astronautics | Auckland | zenno.space

    Zenno is building the future of agile and sustainable operations in space. They have developed a patented technology based on superconducting magnets that enables spacecraft operators to reduce their costs while also increasing their mission value.

     For more information visit: arohia.govt.nz

    About Callaghan Innovation

    Callaghan Innovation is New Zealand’s innovation agency. It activates innovation and helps businesses grow faster for a better New Zealand.  The government agency partners with ambitious businesses of all sizes, delivering a range of innovation and research and development (R&D) services to suit each stage of their growth. Its staff – including more than 150 of New Zealand’s leading scientists and engineers – empower innovators by connecting people, opportunities and networks, and providing tailored technical solutions, skills and capability development programmes, and grants co-funding. Callaghan Innovation also enhances the operation of New Zealand’s innovation ecosystem, working closely with MBIE, NZTE, NZVIF, Crown Research Institutes, and other organisations that help increase business investment in R&D and innovation. The agency operates from five urban offices and a regional partner network in a further 12 locations across Aotearoa.

    MIL OSI New Zealand News –

    September 29, 2024
  • MIL-OSI Translation: Next training 2024 “Minimum wage in Geneva”

    MIL OSI Translation. Government of the Republic of France statements from French to English –

    Source: Switzerland – Canton Government of Geneva in French

    The cantonal office for inspection and labor relations (OCIRT) organizes face-to-face or webinar training courses throughout the year. They are primarily aimed at private sector companies, workers and specialists in the OCIRT’s fields of activity. Most of them are free of charge and aim to raise your awareness and facilitate your adaptation to legal standards. Some of them are eligible for training credits.

    Date, time and place

    Tuesday, October 29, 20242:30 p.m. – 4:30 p.m. Free Webinar

    Registration

    Register by consulting our catalog:www.ge.ch/c/formations-ocirt-inscription.

    Animation

    Mr. Karim TheurillatLabor InspectorDepartment of Economy and Employment (DEE)Cantonal Office of Inspection and Labor Relations (OCIRT)5, rue David-Dufour1205 GenevaT 41 22 388 29 29karim.theurillat@etat.ge.ch

    Program

    Welcome and introduction

    Mr. Marco Treglia (OCIRT)

    General

    Basic elements

    Controls and sanctions

    Mr. Karim Theurillat (OCIRT)

    Questions/Discussion

    All (chat and/or microphone)

    Documentation

    It will be available after the webinar.

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

    MIL Translation OSI

    September 29, 2024
  • MIL-OSI: Terranet reaches strategic milestone – achieves autonomous braking

    Source: GlobeNewswire (MIL-OSI)

    A key target for the third quarter was to achieve fully automated braking based on a brake request from BlincVision. Recent tests at the certified AstaZero track demonstrated that BlincVision successfully initiated braking with a large margin, marking a significant advancement for the company.

    At AstaZero, the advanced driver assistance system has been tested at various driving speeds and in several Euro NCAP scenarios to evaluate its performance. To further increase the complexity of the traffic environment, Terranet has created modified versions of these scenarios. In one scenario (CPNCO-50), a child walks out from the right side behind a parked car. In the modified version, an additional car was placed behind the child. For existing ADAS solutions on the market, the child often blends into the background of the car, but the BlincVision system was able to identify the child and brake in time. At the same time, large amounts of data have been collected to improve the system’s AI-developed model. This data collection is a key component for the continued development and fine-tuning of the system to better handle a wide variety of traffic conditions. The results show the potential for further optimization and refinement of the system.

    In previous tests, the system only sent a brake request, with the actual braking being theoretical and based on calculations of a potential collision. Now, for the first time, the entire process has been verified: from object detection and classification, to calculating collision risk, making a decision, and finally initiating emergency braking to bring the vehicle to a stop.

    “The fact that BlincVision is now functioning as a stand-alone ADAS system is a crucial milestone in our development process. The system’s growing maturity makes it easier to integrate into other vehicles, further strengthening our ongoing collaboration within the MobilityXlab accelerator program. Our goal to secure agreements with partners in the fourth quarter remains intact,” says Pierre Ekwall, CTO at Terranet.

    Link: Video clip from AstaZero

    For more information, please contact:        
    Magnus Andersson, CEO        
    E-mail: magnus.andersson@terranet.se

    About Terranet AB (publ)
    Terranet’s goal is to save lives in urban traffic. The company develops innovative technical solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV). Terranet’s anti-collision system BlincVision laser scans and detects road objects up to ten times faster than any other ADAS technology available today.

    The company is headquartered in Lund, with offices in Gothenburg and Stuttgart. Since 2017, Terranet has been listed on Nasdaq First North Premier Growth Market (Nasdaq: TERRNT-B). Follow our journey at: www.terranet.se

    Attachment

    • Terranet Braking at AstaZero 240924 ENG

    The MIL Network –

    September 29, 2024
  • MIL-OSI: Share buybacks in Spar Nord Bank – transactions in week 38

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 59
     

    In company announcement no. 10 2024, Spar Nord announced a share buyback programme of up to DKK 500 million. The share buyback was initiated on 12 February 2024.

    The purpose of the share buyback is to reduce the bank’s share capital by the shares acquired under the programme, and the programme is executed pursuant to Regulation (EU) No 596/2014 of 16 April 2014 (“Market Abuse Regulation”).

    In last week the following transactions were made under the share buyback programme.

      Number of shares Average purchase price (DKK) Transaction value (DKK)
    Accumulated from last announcement 2,317,797    290,270,700
    16 September 2024 14,800 128,54 1,902,392
    17 September 2024 14,800 128,74 1,905,352
    18 September 2024 14,800 128,86 1,907,128
    19 September 2024 14,400 129,79 1,868,976
    20 September 2024 14,700 129,11 1,897,917
    Total week 38 73,500    9,481,765
    Total accumulated 2,391,297   299,752, 465

    Following the above transactions. Spar Nord holds a total of 2,448,816 treasury shares equal to 2.08 % of the Bank’s share capital.

    Please direct any questions regarding this release to Rune Brandt Børglum, Head of Investor Relations on tel. + 45 96 34 42 36.

    Rune Brandt Børglum
    Head of Investor Relation

    Attachment

    • No. 59 – Share buybacks – transactions in week 38 – UK

    The MIL Network –

    September 29, 2024
  • MIL-OSI: Second Well Delineates Heisenberg, Confirms Size of Discovery

    Source: GlobeNewswire (MIL-OSI)

    Oslo, 24 September 2024 – DNO ASA, the Norwegian oil and gas operator, today announced completion of a second well delineating the play-opening 2023 Heisenberg oil and gas discovery in Norwegian North Sea license PL827SB.  Encountering a six-meter oil-filled Eocene sandstone reservoir, the well confirmed the Heisenberg volume estimate of 24 to 56 million barrels of oil equivalent (MMboe) with mean of 37 MMboe.     

    The license partnership, which in addition to DNO Norge AS (49 percent) includes operator Equinor Energy AS, is studying a tieback of Heisenberg to nearby infrastructure, potentially jointly coordinated with the development of other recent discoveries in this highly prolific area surrounding the Troll and Gjøa production hubs. DNO has a strong area position.

    Earlier this year, Cuvette (DNO 20 percent) marked DNO’s eighth discovery in the area since 2021, following Røver Nord, Kveikje, Ofelia, Røver Sør, Heisenberg, Carmen and Kyrre. Discoveries in the Troll-Gjøa area make up the largest share of DNO’s net contingent resources in the North Sea, which stood at 132 million barrels of oil equivalent at yearend 2023.

    DNO continues to be one of the most active explorers in the North Sea. Last week, the Company commenced drilling operations at Falstaff (DNO 50 percent and operator) while Ringand (DNO 20 percent) is expected to be drilled later this fall. In early September, DNO submitted one of the largest applications in the Company’s history for the upcoming APA 2024 licensing round, with awards expected during the first quarter of 2025.

    The Angel exploration prospect, which was the main target of the license PL827SB well, was found to be mainly water wet although the well encountered non-commercial volumes of gas.

    –

    For further information, please contact:
    Media: media@dno.no
    Investors: investor.relations@dno.no

    –

    DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d’Ivoire, Netherlands and Yemen.

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

    The MIL Network –

    September 29, 2024
  • MIL-OSI Banking: Result of the 2-day Variable Rate Repo (VRR) auction held on September 24, 2024

    Source: Reserve Bank of India

    Tenor 2-day
    Notified Amount (in ₹ crore) 50,000
    Total amount of bids received (in ₹ crore) 91,035
    Amount allotted (in ₹ crore) 50,003
    Cut off Rate (%) 6.62
    Weighted Average Rate (%) 6.64
    Partial Allotment Percentage of bids received at cut off rate (%) 89.83

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1154

    MIL OSI Global Banks –

    September 29, 2024
  • MIL-Evening Report: Surrogacy is booming. But new research suggests these pregnancies could be higher risk for women and babies

    Source: The Conversation (Au and NZ) – By Hannah Dahlen, Professor of Midwifery, Associate Dean Research and HDR, Midwifery Discipline Leader, Western Sydney University

    Helena Lopes/Pexels

    A new study from Canada has found women who agree to carry and birth babies in surrogacy arrangements face a higher risk of complications than other pregnant women.

    These women were at two to three times the risk of health problems such as postpartum haemorrhages and pre-eclampsia. They were also more likely to give birth prematurely.

    With an increasing number of people in Australia and elsewhere having children via surrogacy arrangements, what can we make of these findings?

    First, what is surrogacy?

    Surrogacy is a situation where a woman becomes pregnant and gives birth to a baby (or babies) for another person or a couple in a planned arrangement.

    There are two types of surrogacy.

    The first is where the pregnant woman is the full biological mother, with the child conceived using her own egg (sometimes called “traditional” or “genetic” surrogacy).

    The second is where the pregnant woman is not the genetic mother and the child is conceived using the egg of a different woman (called “gestational surrogacy”).

    Gestational surrogacy involves the transfer of an embryo or embryos into the uterus of a woman who has agreed to carry and birth the child using in vitro fertilisation (IVF). Gestational surrogacy is now the most common form of surrogacy arrangement in Australia.

    The new study looked at gestational surrogacy specifically.

    What the researchers did

    The study, published in the journal Annals of Internal Medicine, was retrospective. This means it used existing data that is gathered routinely on people using health services.

    It included 863,017 women who had a single baby between April 2012 and March 2021 (multiple births were excluded).

    The researchers compared outcomes for women and babies where the pregnancy was achieved naturally, those who got pregnant using IVF, and those who were pregnant in a gestational surrogacy arrangement where the woman had no genetic link to the baby.

    Most babies were conceived naturally, 16,087 were IVF pregnancies, and 806 women were pregnant in gestational surrogacy arrangements.

    The study looked at more than 860,000 women in Canada who had a baby over a nine-year period.
    PeopleImages.com – Yuri A/Shutterstock

    The researchers found pregnant women in gestational surrogacy arrangements had a rate of severe maternal complications of 7.8%, more than three times the rate of those who became pregnant naturally (2.3%) and almost twice the rate among those who got pregnant through IVF (4.3%).

    These risks included postpartum haemorrhage (losing excessive amounts of blood following the birth), severe pre-eclampsia (high blood pressure associated with pregnancy) and serious postpartum infection (sepsis). There was also a higher risk of the baby being born preterm (before 37 weeks) in gestational surrogacy situations.

    The researchers attempted to take into account differences between the three groups like age, weight, health problems and socioeconomic status, which can all influence the risk of complications for pregnant women and their babies. Despite this, they still saw these concerning results.

    Why might the risk be higher?

    Previous research looking at outcomes with gestational surrogacy has had mixed results. But it is thought the reason risks could be greater for the woman and baby in gestational surrogacy arrangements may be because the baby is genetically unrelated to the woman.

    Pregnancy has a strong impact on the immune system. During pregnancy, women’s immune systems are altered so they do not reject the growing baby.

    An imbalanced or overactive immune response can contribute to pregnancy complications including preterm birth and pre-eclampsia. Having a baby with different genetic material may affect a woman’s immune response during pregnancy, and increase the risk of complications in this way.

    Some limitations

    Only women having a single baby were included in the study, so we don’t know the outcomes where a multiple pregnancy was involved. However, multiple birth is common in surrogacy, and there are increased risks associated with multiple births for women and babies.

    Multiple embryo transfer increases the risk of twins and triplets and is prohibited in the context of surrogacy in Australia (and discouraged in IVF treatments more broadly). But Australians engaging in overseas surrogacy commonly request it.

    Also, the study includes a relatively small number of women pregnant in a gestational surrogacy arrangement (806), meaning there’s an increased risk for statistical error and limited ability to detect rare outcomes.

    People may use a surrogate to have a baby for a range of reasons.
    Lopolo/Shutterstock

    Ethical questions

    An increasing number of Australians are having children via surrogacy arrangements. This is due to a combination of factors including a decline in adoption, women delaying motherhood, and increased social acceptability of male same-sex parenting.

    Australia only allows altruistic surrogacy, where the woman who agrees to have the baby for others is not paid.

    However, some other countries allow women to be paid to become pregnant for others (commercial surrogacy). Concern regarding the exploitation of women via commercial surrogacy is such that Queensland, New South Wales and the Australian Capital Territory have made it illegal for residents to travel overseas to engage in commercial surrogacy.

    Even so, most Australia children born as a result of surrogacy arrangements are born through overseas commercial surrogacy.

    Despite some limitations, this research indicates increased risks for women becoming pregnant in gestational surrogacy arrangements, and the babies they carry. It seems important the potentially elevated risks should be made clear to women considering carrying and birthing a baby for someone else, and to the prospective parents.

    Considering the rise in surrogacy globally it’s important more research is undertaken on the potential health and other impacts of this practice on women and babies. Health, ethical and human rights implications should inform legislative frameworks, policy and practice.

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

    – ref. Surrogacy is booming. But new research suggests these pregnancies could be higher risk for women and babies – https://theconversation.com/surrogacy-is-booming-but-new-research-suggests-these-pregnancies-could-be-higher-risk-for-women-and-babies-239574

    MIL OSI Analysis – EveningReport.nz –

    September 29, 2024
  • MIL-OSI Australia: Interview with Adam Steer, ABC Radio Darwin

    Source: Australian Treasurer

    ADAM STEER:

    Stephen Jones is the Assistant federal Treasurer and Minister for Financial Services. Minister, welcome to ABC Radio Darwin. These new laws, how are they going to work in terms of preventing scams? Because my understanding is you can’t force the banks to pay back anyone that’s been scammed, can you?

    STEPHEN JONES:

    Not quite true. Under the existing laws, we have a mandatory reimbursement scheme. If somebody has had money withdrawn from their account that wasn’t authorised and that’s done under the ePayments code. The problem we have is there’s so much grey area and the scams are becoming so incredibly sophisticated. They’ve been industrialised over the last decade; scam losses were doubling every year. They haven’t for the last year because of some corrective measures we’ve put in place. But it’s quite clear we just can’t leave the customers on their own –

    STEER:

    Yeah, well, that example –

    JONES:

    More needs to be done.

    STEER:

    That example I was using with Antonia there. So, the bank originally had said no because she had voluntarily handed her information over to the scammers who had provided – she’d looked up the banks themselves and they had provided her the information which she thought, as someone with English as a second language was okay enough that then she could give them the details, her banking details.

    JONES:

    In circumstances like that I mean, then it’s no answer to say banks never ask you to give over your passcodes. They never do that. In fact, they make it quite clear you shouldn’t give them over to anyone. But, you know, for all the reasons you’ve outlined, it’s quite clear that the existing arrangements and obligations aren’t strong enough. So, the laws that we’ll put in place look at the entire economy or the ecosystem in which these scams are operating in. So, they come to us via a phone or an SMS message, or they’re published on a social media platform, and the bank is the destination for the scammers at the end of the transaction. So, we’ve got to get all of those bodies lifting their protection again for their customers to keep their business and network safe, to prevent, to detect, disrupt, respond and report to scams. A failure to put in place the proper steps in this area will lead to fines of up to $50 million for the businesses who fail to do that. The reason we’re starting with banks, telcos and social media platforms is that’s where most of the damage is being done. But we’ll move beyond there once we get that locked down.

    STEER:

    Banks make, I think they made $32 billion worth of profit at the big 4 last year, but only repay between 4–7 per cent of scam victims. That doesn’t seem fair in itself. What exactly are you doing to ensure banks are helping their customers? So, you were saying, unless you do this, we will fine you $50 million for each individual scam? Am I correct that you’re –

    JONES:

    That’s correct, yeah, absolutely. And I want banks to be on the hook if they’ve done the wrong thing. But I don’t want telecommunications companies or social media platforms to be let off the hook as well. I’ve looked at some data up in Europe at the moment, about half the scam losses at the moment are coming from Meta platforms. That’s not a startup business. In Australia, it makes about $6 billion a year. So, that’s a large entity as well. It’s making more than most of our banks, actually. They need to be in the frame. Telcos need to be in the frame. Banks need to be in the frame if they’ve done the wrong thing. And stronger obligations, stronger obligations to protect customers must be in place. And like we’ve been discussing, fines if they, penalties in compensation if they don’t live up to those obligations.

    STEER:

    Six to 8 on 157, ABC Radio Darwin. Adam Steer is my name. Your guest is the federal Assistant Treasurer, Minister for Financial Services, Stephen Jones. A text coming in, Minister, why don’t we ever hear on news scammers getting caught or convicted? Is this because they’re not getting caught?

    JONES:

    Yeah, great question. When we put our policy together, we assumed that the vast majority of this stuff is operating outside of Australia, because it is, and largely in countries where traditional law enforcement can’t work because we don’t have the sorts of relations you need with the countries where they’re operating. In some we’ve got joint operations going in place, but often on the border of war torn countries or in areas where traditional law enforcement can’t get into. So, the traditional law enforcement approach of kicking down doors and dragging people before a court just won’t work. So, we’ve got to look at what will work with what we can do inside Australia.

    STEER:

    Well, let’s move to one of the other issues. I don’t know whether the 2 supermarkets, the 2 major supermarkets, are going to get painted as the villains of inflation, but the ACCC is alleging Woolies and Coles are now breaching consumer laws, rising prices by 15 per cent prior to some of their big promotional scale – sales. I mean, that’s a scam in itself. How the supermarkets going to get punished here?

    JONES:

    Well, strong action being taken by our regulator with the full support of the government. I have got to be careful because this matter is before the court. But if these matters are proved – and I have every reason to believe that the ACCC will have done due diligence before they took the matter before court – if these matters are proved, then it is an indictment on those businesses and they deserve the full force of the law. In instances where Australians are struggling and they’re ripping us off with bodgy sales and bodgy advertisements, jacking prices up before they drop them, that’s just not right.

    STEER:

    And inflationary as we wait to see whether the mortgage rates stay on hold or not for this year. I’ve got a text asking the ACCC themselves have said, good move from the federal government because they reinforced some laws which have allowed us to take this action. And as you say, it is above the courts – in front of the courts at the moment. If it’s successful and if it’s a very, very large fine which we consider it would have to be given the supermarkets are making $1000 million profit per year each. Where does that money go if they get a significant fine? What happens to that money?

    JONES:

    Yeah, good question. So, in this instance, the ACCC has sought unusual but not exceptional orders where a part of the fine would be diverted towards paying for meals and services to homelessness and low income people as a means of ensuring that some of that money goes towards the people who are hurt most by this sort of alleged pernicious behaviour.

    STEER:

    You know what? We’ll wait and see what happens. Federal Assistant Treasurer Stephen Jones, thank you so much for your time this morning. Appreciate it.

    JONES:

    Great to talk.

    MIL OSI News –

    September 29, 2024
  • MIL-OSI: Craft Named Value Leader for Supply Chain Risk Management Platform and Achieves Overall Strong Performance in Spend Matters Fall 2024 SolutionMap

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Sept. 24, 2024 (GLOBE NEWSWIRE) — Procurement & Supply Chain Live — Craft, the supply chain resilience company, today announced it was named a Value Leader in the Spend Matters Fall 2024 SRM SolutionMap, which includes an evaluation of 93 procurement technology vendors. Craft scored the highest ratings for its overall functional depth, overall customer scores, UX and UI, supplier intelligence and N-tier capabilities.

    To be considered for the list, Craft underwent a rigorous functionality and capability assessment that included an in-depth capability demonstration of their supply chain risk management platform, and anonymized customer reviews and ratings. Spend Matters helps buyers, consultants, investors, and sellers compare vendors across 500+ request-for-information (RFI) requirements for better and smarter procurement technology purchasing.

    “Thousands of companies look to Spend Matters to help them find the right procurement and supply chain technology for their organizations,” said Ilya Levtov, CEO and founder, Craft. “This comprehensive evaluation in the latest SpendMatters Fall 2024 Solution Map is further validation of Craft’s strategy to expand the definition of supplier risk management and serves as a testament to our ability to deliver the right solutions to power resilience across the entire enterprise. We are thrilled to be recognized by SpendMatters, and above all to earn high marks from our customers as a value leader in this highly competitive market.”

    Craft was evaluated under two vendor categories – Supplier Management (risk enhanced) and Risk Management (TPRM/SCRM) – and earned the following:

    1. Named a “Risk Management Value Leader”: Craft was recognized for excelling in supplier intelligence and AI-driven monitoring and analytics for risk management as a result of high functional and customer scores.

    2. Highest-rated vendor for functional depth: Craft was rewarded with high marks by its customers for its exceptionally quick deployment, user experience (UX) and ease-of-use, and its process expertise in helping clients identify and mitigate supply chain-related risk.

    3. Top score for supplier profiles: Craft rated the top analyst scores within the entire category for SIM (supplier information management) and Supplier Profiling, designated by a gold ribbon in the SRM SolutionMap.

    4. Surpassed other SRM vendors in multiple categories: Craft received high ratings for ability to assess and mitigate risks throughout the entirety of the supply chain, and providing detailed services on behalf of clients for supplier data / profile management.

    “Vendors participating in SolutionMap undergo the most rigorous assessment from a tech capability and customer delivery perspective,” said Carina Kuhl, president, SpendMatters. “Spend Matters has the largest analyst team dedicated to in-depth comparison of solutions in the procurement technology space and pinpointing their differentiators.”

    Craft is the intelligent supply chain resilience platform that enables organizations to know their suppliers, protect against disruptions, and build resilient supply chains. Craft’s flexible data fabric uses best of breed datasets from public and private sources across 500+ risk categories, such as ESG, geopolitical, foreign influence, cybersecurity, supplier financial health, weather, and much more. Its risk engine is enhanced by AI-generated insights that can be shared, tracked and taken action on internally and across organizations via a collaborative workspace. With Craft, organizations like the U.S. Department of Defense, Hapag-Lloyd, major financial services institutions, and other Fortune 500 companies confidently navigate third-party risks, regulatory environments, uphold ethics, and drive business continuity and growth.

    For more information about Craft, visit www.craft.co or contact press@craft.co.

    About Craft
    Craft illuminates the path to global supply chain resilience. It empowers businesses to strengthen their supplier networks and supply chains with the industry’s most reliable and comprehensive data fabric and AI-driven risk mitigation engine. Craft’s user-friendly platform offers 360-degree visibility to explore and evaluate supplier networks, AI-generated insights to detect and mitigate disruptions, and collaborative tools to enhance supply chain strategies. Procurement and supply chain professionals can confidently navigate regulatory environments, adhere to ethical standards, and ensure business continuity. Headquartered in San Francisco, CA, Craft assists commercial and governmental organizations worldwide in creating more resilient supply chains.

    For more information about Craft, visit www.craft.co.

    PR Contact
    Carol Hickins
    carol.hickins@craft.co

    The MIL Network –

    September 29, 2024
  • MIL-OSI: Nokia and ZCorum collaborate to develop DOCSIS Provisioning Adapter for cable-to-fiber transition

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia and ZCorum collaborate to develop DOCSIS Provisioning Adapter for cable-to-fiber transition

    • Nokia entered into an agreement with ZCorum to develop a DOCSIS Provisioning Adapter (DPA) application to work with Nokia’s Altiplano platform.
    • The DPA will enable cable operators to provision a PON ONT and subscriber services using their existing DOCSIS provisioning system, facilitating a transition to fiber-to-the-home.
    • The DPA application will be offered through Nokia’s Altiplano Marketplace and provided to customers by Nokia.

    24 September 2024
    Espoo, Finland – Nokia today announced that it has partnered with ZCorum, a leading provider of diagnostics and managed services for broadband providers, to develop a DOCSIS Provisioning Adapter (DPA) application. The DPA solution will allow cable operators to use their existing DOCSIS-based provisioning system to provision an Optical Network Terminal (ONT) and subscriber services on an ITU-based Passive Optical Network (PON).

    Cable operators are upgrading their networks to fiber because it offers the highest performance, scalability, and reliability. This transition often involves implementing a next-generation fiber management solution. For MSOs seeking a more gradual shift from their DOCSIS-based Operations Support Systems (OSS), a software-based DPA offers a seamless pathway. Beyond simplifying the evolution to Fiber-to-the-Home (FTTH), the DPA application can also help distribute adoption costs and expedite time-to-market.

    The Nokia DPA provides an interworking function, or translation layer, bridging the DOCSIS-based management system and Nokia’s Altiplano Access Controller. Altiplano is an open and programmable platform offering a complete suite of network management functions and software-defined networking (SDN) controls for Nokia’s Lightspan PON networks.

    The Nokia DPA application is expected to be available for lab trials by the end of 2024. When broadly introduced, the Nokia DPA will be offered through the Nokia Altiplano Marketplace. The Nokia Altiplano Marketplace gives operators access to a catalog of ready-made automation tools and network analytics to get the most out of their broadband network. Additionally, Nokia’s Altiplano Access Controller platform gives operators and third-party developers, such as ZCorum, access to open APIs and a Software Development Kit (SDK) for developing value-added applications.

    More information and a demonstration of the DPA will be available at Nokia’s booth (#1903) at SCTE TechExpo 24, September 24-26 in Atlanta, GA.

    Jeff Heynen, Vice President at Dell’Oro Group, said: “While cable operators are upgrading their networks in various ways, virtually all are deploying PON-based FTTH networks in greenfield. Many are also overbuilding their whole network with PON or strategically adding it into their legacy HFC networks. MSOs will benefit from and welcome any tool that makes it easier, faster, and more cost-effective to deploy PON. Certainly, Nokia’s DPA will do just that.”
         
    Julie Compann, President and CEO at ZCorum, said: “ZCorum has been serving DOCSIS and fiber operators since the time those technologies first launched, so developing DPA is a natural project for our company. Cable operators recognize the benefits of migrating to fiber, but also have a significant investment in their DOCSIS infrastructure. DPA will allow them to focus on fiber deployment where needed, without the need to immediately deploy a second provisioning system. We are pleased to be working with Nokia and their team to make that possible.”

    Geert Heyninck, VP and GM Broadband Networks at Nokia, said: “As the industry leader in PON, Nokia is ideally positioned to assist cable operators in moving to next-generation networks, enabling them to deliver the best possible service to their subscribers. The DPA app we are developing with the OSS experts at ZCorum will offer our customers a simple means to ease their transition to FTTH and attain a more competitive position in their markets.”

    Resources and additional information
    Webpage: Fiber broadband for cable operators
    Webpage: Altiplano Access Controller
    Webpage: Altiplano Marketplace
    Webpage: ZCorum Managed Services and Diagnostics

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    About ZCorum
    ZCorum provides a suite of services to broadband operators with the goal of enhancing their operational efficiency, reducing costs, increasing revenue, and improving the subscriber experience. Services include Diagnostics Software for Fiber and DOCSIS networks, Device Activation, Cybersecurity as a Service, Bandwidth Management, Hosted Residential and Commercial VoIP, Fully Managed IPTV Services, and 24×7 End-User Technical Support.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram TikTok Facebook YouTube

    The MIL Network –

    September 29, 2024
  • MIL-OSI: Nokia selected by Spark as majority 5G RAN partner in New Zealand

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia selected by Spark as majority 5G RAN partner in New Zealand

    • Nokia to partner with Spark to expand its 4G and 5G infrastructure in key cities across New Zealand.
    • Partnership supports Spark’s goal to simplify and consolidate network operations.

    24 September 2024
    Espoo, Finland – Nokia today announced that it has been selected by Spark New Zealand (Spark), to expand its existing 4G and 5G program in cities across New Zealand. Spark has chosen Nokia as its preferred 5G Radio Access Network partner to streamline operations and consolidate its RAN. This strategic decision will simplify network operations while delivering the best-performing 5G network in New Zealand.

    Under the deal, covering over 700 sites, Nokia will provide equipment from its comprehensive 5G AirScale portfolio. This includes baseband, remote radio heads, and massive MIMO radios, offering industry-leading 5G capacity, coverage, and connectivity. These solutions utilize Nokia’s energy-efficient ReefShark System-on-Chip technology, delivering superior capacity and connectivity to Spark customers while reducing complexity and improving cost efficiencies.

    Renee Mateparae, Network and Operations Director for Spark said: “Nokia has been a trusted partner of ours for many years, and we are excited to work with them on bringing a world-class 5G network to more of Aotearoa, New Zealand. This next phase of our partnership will see us streamlining our 5G deployments to simplify operations and deliver great 5G experiences for our customers every day. Working with Nokia, we aim to deliver next-generation services that will empower the people and businesses creating Aotearoa, New Zealand’s tomorrow.”

    Tommi Uitto, President of Mobile Networks at Nokia, said: “We are thrilled to have been selected by Spark as the majority supplier for this transformative 5G project and to support its vision of streamlining operations and consolidating its network. With our state-of-the-art technology solutions, we are confident that Spark will achieve its objectives of enhancing network efficiency, improving service quality, and delivering a seamless experience to its customers.”

    Resources and additional information:
    Webpage: Nokia 5G
    Webpage: AirScale Radio Access

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable, and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network –

    September 29, 2024
  • MIL-OSI: 21Shares Announces Fee Reduction for Flagship ETPs, HODLX and BOLD

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, 24 September 2024 – 21Shares AG (“21Shares”), one of the world’s largest issuers of cryptocurrency exchange traded products (ETPs) and a subsidiary of 21.co, is pleased to announce a significant fee reduction for two of its flagship products: the 21Shares Crypto Basket 10 ETP (HODLX) and the 21Shares Bytetree BOLD ETP (BOLD). Effective immediately, the management fees for these ETPs have been lowered to 0.49% for HODLX and 0.65% for BOLD, making these innovative investment vehicles more accessible to a broader range of investors.

    The 21Shares Crypto Basket 10 ETP (HODLX) provides diversified exposure to the top ten digital assets by market capitalization, rebalanced quarterly to reflect the dynamic nature of the cryptocurrency market. With this fee reduction to 0.49%, investors can now benefit from a more cost-effective way to capture the growth potential of the digital asset space in a single, diversified ETP.

    The 21Shares Bytetree BOLD ETP (BOLD) offers a unique blend of Bitcoin and Gold, designed as a balanced approach to digital and traditional assets. BOLD’s risk-adjusted weighting scheme, rebalanced monthly, combines the security of gold with the growth opportunities of Bitcoin, offering a diversified hedge against inflation and economic uncertainty. The new fee of 0.65% further enhances the appeal of this product for investors seeking strategic and cost-efficient exposure to these assets.

    “At 21Shares, our mission has always been to make investing in cryptocurrency more accessible, and this fee reduction is a reflection of our commitment to delivering value to our investors,” said Mandy Chiu, Head of Financial Product Development at 21Shares. “By lowering the fees on HODLX and BOLD, we are enabling more investors to participate in the future of finance at a lower cost.”

    These fee reductions underscore 21Shares’ dedication to providing innovative, low-cost investment solutions that meet the evolving needs of the global investor community. Both ETPs are 100% physically backed by their underlying assets, held securely in cold storage, ensuring the highest levels of trust for investors.

    For more information about 21Shares and its full range of ETPs, visit https://www.21shares.com/en-eu/product .

    Press Contacts:
    Audrey Belloff, Head of Communications, press@21.co

    About 21.co:
    21.co is the world’s leader in providing access to crypto through simple and easy to use products. 21.co is the parent company of 21Shares, one of the world’s largest issuer of cryptocurrency exchange traded products (ETPs) – which is powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties. The company was founded in 2018 by Hany Rashwan and Ophelia Snyder. 21Shares is registered in Zurich, Switzerland with offices in Zurich, London and New York. For more information, please visit 21Shares.

    Disclaimer:
    This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG in any jurisdiction. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever or for any other purpose in any jurisdiction. Nothing in this document should be considered investment advice.

    This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful.

    This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States. Neither the US Securities and Exchange Commission nor any securities regulatory authority of any state or other jurisdiction of the United States has approved or disapproved of an investment in the securities or passed on the accuracy or adequacy of the contents of this presentation. Any representation to the contrary is a criminal offence in the United States.

    Within the United Kingdom, this document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iii) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (iv) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

    Exclusively for potential investors in any EEA Member State that has implemented the Prospectus Regulation (EU) 2017/1129 the Issuer’s Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com.

    The approval of the Issuer’s Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the Issuer’s Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.

    This document constitutes advertisement within the meaning of the Prospectus Regulation (EU) 2017/1129 and the Swiss Financial Services Act (the “FinSA”) and not a prospectus. The 2023 Base Prospectus of 21Shares AG has been deposited pursuant to article 54(2) FinSA with SIX Exchange Regulation AG in its function as Swiss prospectus review body within the meaning of article 52 FinSA. The 2023 Base Prospectus and the key information document for any products may be obtained at 21Shares AG’s website (https://21shares.com/ir/prospectus or https://21shares.com/ir/kids).

    ###

    The MIL Network –

    September 29, 2024
  • MIL-OSI Banking: Development Asia: Boosting Regional Integration with Enhanced Multimodal Transport Links

    Source: Asia Development Bank

    Road Corridors

    Roads are the primary transport infrastructure in most SAARC member states, serving as the main means of domestic connectivity and the key conduit for intra-SAARC trade, either across land borders or via seaports. In recent years, the importance of road transport has grown across all SAARC countries.

    The original SMRTS included ten SAARC road corridors, linking: (i) Pakistan, India, and Bangladesh (two); (ii) Nepal and India (two); (iii) Bhutan and India (one); (iv) Nepal, India, and Bangladesh (one); (v) Bhutan, India, and Bangladesh (one); (vi) India and Bangladesh (two); and (vii) Nepal, India, and Pakistan (one). The updated SMRTS highlights recent physical and nonphysical progress in corridor development.

    Physical progress includes the 6.15-km Padma Bridge, upgrades to the Sarail-Akhaura link and Elenga-Hatikamrul-Rangpur Highway, and four-laning of the Dhaka-Sylhet Highway and Sylhet-Tamabil Road in Bangladesh; the planned Haldia/Howrah-Raxual Expressway in India; Nepal’s Kathmandu-Terai Madhesh Fast Track Project; and Pakistan’s Khyber Pass Economic Corridor and six-lane motorways connecting Karachi to Peshawar. Nonphysical progress includes motor vehicle agreements facilitating cross-border transport.

    Rail Corridors

    Railways have the potential to become a key transport mode in the SAARC region, especially for intraregional movement of goods and passengers between Bangladesh, India, Nepal, and Pakistan. The region’s railway network is mainly broad-gauge and compatible across member states, except for the meter-gauge network east of Dhaka, Bangladesh. Once the SAARC rail corridors are fully developed and nonphysical barriers are addressed, efficient rail connectivity will link the concerned SAARC countries.

    The original SMRTS included five SAARC railway corridors, connecting Bangladesh, India, Nepal, Sri Lanka, and Pakistan. Recent progress includes several railway projects in Bangladesh (e.g., the Padma Bridge Rail Link, dual-gauge line between Akhaura and Laksam), new rail links in Bhutan and Nepal, and the planned Uzbekistan-Pakistan-Afghanistan Railway.

    Inland Waterway Corridors

    Among SAARC countries, only Bangladesh and India have organized inland waterways, facilitating freight transit between the two nations. In earlier SMRTS stages, two inland waterway corridors of regional importance were identified based on current and potential future traffic. These corridors also offer direct waterway links for Northeast India to the ports of Kolkata and Haldia. Landlocked Bhutan and Nepal could benefit from multimodal and intermodal connections to these waterways, providing access to the sea.

    A recent development is the consolidation of the Eastern Waterways Grid, linking rivers in Bangladesh and India with roads and rail to improve connectivity. The Grid builds on the Indo-Bangladesh Protocol Routes, enhancing trade and transit between the two countries. It promises significant cost savings for bulk goods transport in India and revenue generation for Bangladesh through port fees and cargo services, with potential benefits for Bhutan and Nepal.

    Maritime Gateways

    The previous SMRTS versions identified ten major maritime gateways based on current traffic volume, potential to handle future intraregional container traffic, and access for landlocked countries to seaports.

    The updated SMRTS highlights recent progress in the maritime sector. Bangladesh is developing two new gateways: Payra, now operational, and Matarbari, under construction and expected to become the country’s first deep-sea port. Chattogram Port has undergone significant expansion, with a framework for its sustainable development as a transshipment hub for Northeast India. India’s Visakhapatnam (Vizag) Port, the largest on the Eastern Coast, has increasingly served Nepali transit traffic. Other notable developments include a planned new port at Thilafushi in Maldives, a major port concession in Karachi, Pakistan, and continued expansion of Colombo Port, Sri Lanka. Additionally, ferry services between India and Sri Lanka have been proposed.

    Aviation Gateways

    The original SMRTS identified 16 SAARC aviation gateways and noted the need to increase this number by 2030 by upgrading domestic airports to regional hubs and regional airports to international ones. It also acknowledged the complexity of identifying aviation hubs within the SAARC region, which goes beyond the scope of the SMRTS.

    Based on recent developments discussed at a February 2024 workshop in Kathmandu, additional aviation gateways were included in the updated SMRTS. These are in Bangladesh (Chattogram, Sylhet, Cox’s Bazar, Saidpur), Bhutan (Gelephu), Maldives (Gan), Nepal (Gautam Buddha, Pokhara), Pakistan (Islamabad), and Sri Lanka (Mattala Rapsaka, Jaffna, Batticaloa).

    Between 2020-2024, the aviation sector faced challenges due to the COVID-19 pandemic, which lowered passenger and freight demand. As the sector recovers, the challenge is to rebuild and reshape it, redesigning terminals to meet new requirements and implementing measures to address environmental concerns, including decarbonization.

    Connectivity between South Asia and Central Asia

    Recent developments in transport connectivity between South Asia and Central Asia include United Nations General Assembly Resolution 76/299 on strengthening regional connectivity, the Khyber Pass Economic Corridor, the Uzbekistan-Pakistan-Afghanistan Railway Project, the International North-South Transport Corridor (a 7,200-km multimodal route linking India, Iran, Azerbaijan, and Russia), and the Delhi Declaration from the 1st India-Central Asian Summit in January 2022.

    Air connectivity between South Asia and Central Asia remains limited, despite Central Asia’s landlocked nature and challenging geography. Air transport is crucial for moving perishable and high-value goods and facilitating business travel and tourism.

    MIL OSI Global Banks –

    September 29, 2024
  • MIL-OSI: Fibabanka launches Türkiye’s first BaaS platform in partnership with GetirFinans

    Source: GlobeNewswire (MIL-OSI)

    ISTANBUL, Sept. 24, 2024 (GLOBE NEWSWIRE) — Fibabanka, a leading player in Türkiye’s banking sector, has launched the country’s first Banking as a Service (BaaS) model through an innovative collaboration with GetirFinans, which received a total of $70 million in investment last year at a valuation of $250 million. This partnership, a significant step in Fibabanka’s broader strategy to expand its BaaS platform, provides non-banking businesses with the infrastructure to offer tailored financial services to their customers efficiently.

    The BaaS model, enabled by Fibabanka’s advanced technology, marks a new era in financial services, making it easier for businesses across industries to integrate financial solutions into their own platforms. Fibabanka is one of the few global institutions to implement this model, positioning itself as a key innovator in the Turkish market.

    A new era for financial services integration

    The partnership with GetirFinans is the first use case for Fibabanka’s BaaS model. Through the GetirFinans, integrated within the Getir, application, users can now access a range of banking services, including account management, card issuance, and payment options, directly from the app. By leveraging Fibabanka’s digital infrastructure, GetirFinans is able to offer these services without needing a banking license, while maintaining focus on its core operations.

    With more than 500 APIs powering its platform, Fibabanka’s BaaS solution enables businesses to seamlessly incorporate financial services into their operations, opening the door to cost-effective and streamlined service delivery. Non-bank organizations, from large retailers to fintech startups, can use Fibabanka’s BaaS platform to meet rising customer expectations for integrated, convenient financial solutions.

    Ömer Mert, General Manager and Member of the Board of Directors at Fibabanka, emphasized the transformative nature of this model: “As consumer expectations around financial services evolve, businesses are seeking ways to offer seamless and integrated experiences through their own platforms. Our Banking as a Service model responds directly to these demands by enabling businesses outside the banking sector to access financial infrastructure easily. The GetirFinans collaboration is just the first step, and we look forward to expanding our platform further to meet the needs of various industries and countries.”

    Expanding the reach of financial services

    Fibabanka’s BaaS model is designed to drive financial inclusion by making banking services more accessible to a wider audience. By working with partners like GetirFinans, the bank is extending its reach beyond traditional banking channels, offering innovative solutions that cater to the changing needs of consumers and businesses alike.

    Fibabanka’s BaaS platform also provides significant operational benefits to partner organizations, reducing the costs and complexity typically associated with offering financial services. By managing the backend processes that require a banking license, Fibabanka enables businesses to focus on growth and customer experience.

    A broader vision for the future

    Fibabanka’s launch of the Banking as a Service model is just the beginning of its journey. The bank has positioned itself as a leader in digital banking solutions in Türkiye and plans to expand its BaaS offerings across more industries in the near future. With its technology-driven approach and commitment to innovation, Fibabanka aims to set new standards in the financial services industry, providing solutions that benefit both businesses and their customers.

    “We are proud to be at the forefront of this shift in the banking landscape,” Mert added. “As the destination for BaaS in Türkiye, Fibabanka will continue to build on this model, offering new collaborations that meet the needs of our partners and their customers. Our mission is to redefine the boundaries of digital banking through innovation, and this is just the first of many milestones we intend to achieve.”

    About Fibabanka:

    Since its establishment in 2010, Fibabanka has been a part of the Fiba Group, positioning itself as a forward-thinking technology company offering banking services for the future. Through its investments in digital infrastructure and innovation, Fibabanka continues to transform conventional banking into an end-to-end digital experience, delivering fast, easy, and accessible solutions to its customers.

    About GetirFinans:

    Founded in partnership with Getir, GetirFinans is a technology company that achieved a valuation of $250 million while still in its establishment phase, having raised a total of $70 million in investments last year. GetirFinans will offer users a fast and advantageous banking experience as an interface provider for the service banking services provided by Fibabanka, in accordance with the Regulation on the Principles of Operation of Digital Banks and Service Model Banking, which came into effect on January 1, 2022.

    The MIL Network –

    September 29, 2024
  • MIL-OSI United Kingdom: New UK-Kenya investment partnership rings in UK trade visit

    Source: United Kingdom – Executive Government & Departments

    Nairobi Securities Exchange launches partnership with UK development investor as UK trade lead visits Nairobi.

    His Majesty’s Trade Commissioner for Kenya, John Humphrey, rings the trading bell alongside (L-R) Dave Portmann of MOBILIST, Frank Mwiti CEO of NSE, Mary Njuguna of FSD Africa, John Humphrey HMTC, Paul Mwai Vice Chairman of NSE, Bansri Pattni of AIB-AXYs, Daniel Warutere of Capital Markets Authority.

    Tuesday 24, September – The Nairobi Securities Exchange (NSE) and UK government programme MOBILIST, have announced a new partnership at a launch event in Nairobi. The launch was attended by His Majesty’s Trade Commissioner for Africa, John Humphrey, at the start of a three-day visit to Kenya.

    The partnership aims to drive the listing of new investment products in the Kenyan market and increase the amount of private sector capital available for development and climate projects in Kenya, and generate growth.

    MOBILIST, an innovative part of the UK Government’s investment partnerships offer, provides investment and technical assistance to help businesses that contribute to the United Nations Sustainable Development Goals (SDGs) to overcome the barriers that keep them from listing on a stock exchange.

    The programme has similar partnerships with several emerging market exchanges, including the Nigerian Exchange and the Johannesburg Stock Exchange (JSE), and will consider applications from eligible Kenyan firms.

    Trade Commissioner Humphrey’s visit to Kenya, which comes after recent trips to Egypt and Ethiopia, will focus on delivering long-term investment projects that support the UK-Kenya Strategic Partnership – an ambitious five-year agreement that is unlocking mutual economic benefits for the UK and Kenya, without loading Kenya with unsustainable debt.

    In Nairobi he will meet the Cabinet Secretary for Investments, Trade and Industry, H.E Salim Mvurya, to drive forward the implementation of flagship UK-Kenya climate projects that support President Ruto’s Africa Green Industrialisation Initiative (AGII). He will also launch the British Business Breakfast Club, to listen to the challenges facing British-Kenyan enterprises.

    Mr Humphrey will also visit Naivasha to meet one of Kenya’s biggest exporters of cut flowers, Flamingo Flowers – a British business that employs 11,000 people in Kenya. They are benefitting from the global suspension of the 8% export tariff for cut flowers entering the UK, an example of the UK supporting markets that matter to Kenya, by removing barriers in areas which aim to have an immediate economic impact.

    His Majesty’s Trade Commissioner for Africa, John Humphrey, said:

    Mobilising investment solutions in Kenya are vital to economic growth as they provide a platform for Kenyan businesses to raise the capital they need to expand their operations, increase cross-border trade, and employ more Kenyans – and at the same tackle climate change and achieve critical development goals.

    Long-term investments that deliver lasting change for the people of both our countries are the cornerstone of the UK-Kenya economic relationship. We go far when we go together – I am delighted to be back in Kenya to deliver our mutually beneficial partnership which is rooted in respect.

    Nairobi Securities Exchange CEO, Frank Mwiti, said:

    The NSE is delighted to partner with the UK government-backed MOBILIST Programme. The strategic partnership between the NSE and MOBILIST aligns with our new strategic focus aimed at enabling the NSE to play a more dynamic role in mobilising and channelling capital to sectors that have the most significant capital needs, with a special focus on sustainable development. As a market, we will continue providing a pivotal intersection connecting capital to investment-grade opportunities in Kenya for sustained economic growth

    MOBILIST Programme Lead at the UK Foreign Commonwealth and Development Office (FCDO), Ross Ferguson, said:

    Public markets in Kenya and other African economies hold great untapped potential to mobilise the private capital the continent urgently needs to gain ground in addressing the SDGs and the severe impact of climate change. MOBILIST is proud to partner with the NSE in building a local capital market that can give the African firms working on these challenges access to the capital they need to grow.

    Notes for editors

    The UK-Kenya Strategic Partnership

    The UK-Kenya strategic partnership joint statement can be found here.

    About MOBILIST

    A flagship UK government programme, MOBILIST supports investment solutions that help deliver the climate transition and the United Nation’s Global Goals in developing economies. MOBILIST focuses on mobilising institutional capital to spur new scalable and replicable financial products. MOBILIST invests capital, delivers technical assistance, conducts research and builds partnerships to catalyse investment in new listed products.  www.mobilistglobal.com

    MOBILIST is a key part of the British Investment Partnerships (BIP) offer. BIP is a UK initiative which brings together the UK’s economic development and investment offer, and combines development finance, capital market mobilisation and export finance with the best of UK technical expertise, and a partnerships approach.

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    Published 24 September 2024

    MIL OSI United Kingdom –

    September 29, 2024
  • MIL-OSI United Kingdom: City Centre Lighting Survey

    Source: Scotland – City of Dundee

    People are being asked for their opinions in a project to improve lighting across Dundee city centre at night-time. 

    The city council has appointed consultants Arup to review lighting in the city centre, and also to make recommendations and proposals to enhance the environment for both residents and visitors. 

    As part of this process, a survey has been launched to gather specific information about key areas and experiences of the city centre.   

    The council is developing a lighting masterplan as part of its long-term City Centre Strategic Investment Plan in a bid to create a unique and vibrant atmosphere. It was agreed on Monday that the first steps to illuminate the facade of the Caird Hall will go ahead. 

    Councillor Steven Rome, Fair Work, Economic Growth and Infrastructure convener, said: “Our drive to make Dundee city centre a more attractive place has already seen lights installed in Exchange Street alongside a number of improvements under the City Lights & City Nights concept including external lighting at The McManus. 

    “This survey will help to inform the development of our lighting masterplan and subsequent proposals. It touches on topics like safety as well as the look of the centre and I would encourage as many people as possible to get involved as we would appreciate their input.”   

    You can access the survey by clicking on the following link: https://forms.office.com/e/k1w2m11ran

    Paper copies of the survey are also available from the McManus reception         

    Responses should be submitted by Friday October 11.

    MIL OSI United Kingdom –

    September 29, 2024
  • MIL-OSI Translation: Customers and seed money for Empa spin-off: Solar cells for the Internet of Things

    MIL OSI Translation. Government of the Republic of France statements from French to English –

    Source: Switzerland – Department of Foreign Affairs in French

    Swiss Federal Laboratories for Materials Testing and Research

    Dübendorf, St. Gallen and Thun, 24.09.2024 – “Perovskia Solar” has won over ten leading companies from the “Internet of Things” (IoT) sector as customers and received over two million francs in seed capital. The multi-award-winning Empa spin-off prints tailor-made solar cells for almost any electronic device. These can be produced inexpensively – and even work indoors.

    Every person owns an average of seven electronic devices. Several billion devices are in use worldwide – and with the “Internet of Things” (IoT), their number is constantly increasing. These must be regularly recharged or their batteries regularly changed. This is why the Empa spin-off “Perovskia Solar” has specialized in tailor-made solar cells for every conceivable electronic device – and with success: it has won over ten leading companies in the “Internet of Things” (IoT) sector as customers and has just received more than two million francs from an international coalition of business angels and early-stage funds. “Energy harvesting for IoT devices is a fast-growing market with multi-billion dollar potential,” said Anand Verma, founder and Chief Executive Officer (CEO) of the Empa spin-off. “Our easy-to-integrate, designer solar cells either eliminate the need for batteries or extend their lifespan, opening up the possibility of powering any device with solar energy.”

    Solar cells from the printer

    The multi-award-winning Empa spin-off has brought the first perovskite solar cells to market that can be used for smartwatches, keyboards, and more. The custom manufacturing of traditional silicon solar cells is complex, expensive, and inefficient in low-light conditions. “We can print new perovskite solar cells in any size at low cost. Thanks to their high efficiency, they can power almost any indoor electronic device, whether at home or in the office, in a well-lit environment,” says Anand Verma.

    “Our energy harvesting technology was developed over several years at Empa, which enabled us to launch with a market-ready product that powers next-generation devices for industrial and private applications,” adds Tobias Meyer, founder and Chief Technology Officer (CTO) of Perovskia. Perovskites certainly have excellent properties: they absorb light particularly efficiently and conduct the resulting current well. But until now, perovskite solar cells were not stable enough and did not have a long enough lifetime to be used on a large scale. That is why Anand Verma spent five years researching printing processes for perovskite solar cells at Empa before setting up his own business in 2020.

    A new factory and international support

    “Perovskia Solar” now supplies several international companies with custom-made solar cells for IoT and consumer electronics. The Empa spin-off is now supported by the venture capital fund “Kickfund” of “Venture Kick” and the venture capital company “D

    The Empa spin-off recently built a factory in Aubonne, in the canton of Vaud. One million perovskite elements are expected to be printed there each year.

    Address for sending questions

    Prof. Dr. Frank NüeschFunctional-PolymersTel. 41 58 765 4740frank.nueesch@empa.ch

    Anand VermaCEO Perovskia Solaranand.verma@perovskia.solar

    Author

    Swiss Federal Laboratories for Materials Testing and Researchhttp://www.empa.ch

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

    MIL Translation OSI

    September 29, 2024
  • MIL-OSI Asia-Pac: Visit to the United States: Third Day (1)[The Prime Minister in action]

    Source: Government of Japan – Prime Minister

    Prime Minister Kishida attending an exchange of views with asset management companies from Japan and the United States (1)

    Prime Minister Kishida attending an exchange of views with asset management companies from Japan and the United States (2)

    Prime Minister Kishida attending an exchange of views with asset management companies from Japan and the United States (3)

    Prime Minister Kishida attending an exchange of views with asset management companies from Japan and the United States (4)

    Prime Minister Kishida attending an exchange of views with asset management companies from Japan and the United States (5)

    Prime Minister Kishida attending an exchange of views with asset management companies from Japan and the United States (6)

    Prime Minister Kishida attending an exchange of views with asset management companies from Japan and the United States (7)

    Prime Minister Kishida attending an exchange of views with asset management companies from Japan and the United States (8)

    Prime Minister Kishida attending an exchange of views with asset management companies from Japan and the United States (9)

    Prime Minister Kishida attending an exchange of views with asset management companies from Japan and the United States (10)

    Prime Minister Kishida attending an exchange of views with asset management companies from Japan and the United States (11)

    Working lunch with H.E. Dr. Ursula von der Leyen, President of the European Commission (1)

    Working lunch with H.E. Dr. Ursula von der Leyen, President of the European Commission (2)

    Working lunch with H.E. Dr. Ursula von der Leyen, President of the European Commission (3)

    MIL OSI Asia Pacific News –

    September 29, 2024
  • MIL-OSI United Nations: IOM, CAF Partner to Boost Sustainable and Inclusive Development in Latin America and the Caribbean

    Source: International Organization for Migration (IOM)

    New York, 23 September – The International Organization for Migration (IOM) and CAF – Development Bank of Latin America and the Caribbean have today signed a technical cooperation agreement to address migration challenges in the region while tapping into the potential of migrants to drive sustainable and inclusive development.  

    “This agreement underscores a fundamental truth: migrants are agents of change and development,” said Amy Pope, IOM Director General. “Migrants bring skills, innovation, and unique perspectives that are essential for building resilient economies and vibrant communities. Collaborating with development finance institutions like CAF helps unlock the immense potential of migration to enrich societies around the world.”  

    Signed during the 79th session of the UN General Assembly, this landmark initiative focuses on key aspects of migration management and its developmental impact. It aims to enhance local governments’ migration management capabilities, strengthen climate mobility policies and tools, analyze and disseminate information on migration’s economic impact in Latin America and the Caribbean, and foster dialogue on migrants’ economic integration.  

    “This strategic alliance between CAF and IOM marks a significant step towards understanding and leveraging migration as a catalyst for development in our region,” said Sergio Díaz-Granados, CAF’s Executive President. “We are committed to working alongside local governments, civil society organizations, and the private sector to build comprehensive solutions that benefit both migrants and their communities of origin and destination.”  

    This multidimensional and cross-cutting collaboration will enable a comprehensive approach to migration in Latin America and the Caribbean, enhancing the scope of the IOM-CAF partnership to promote sustainable and inclusive development in the region. This technical cooperation builds on a Memorandum of Understanding signed in May 2023 and aligns with the Sustainable Development Goals, the 2030 Agenda, and the Global Compact for Safe, Orderly and Regular Migration. 

    ***

    For more information, please contact:  

    Panama: Jorge Gallo, jgallo@iom.int 

    New York: Rahma Soliman, rsoliman@iom.int 

    Geneva: Daniela Rovina, drovina@iom.int 

    MIL OSI United Nations News –

    September 29, 2024
  • MIL-OSI China: China pledges joint efforts with ASEAN to build closer community with shared future

    Source: China State Council Information Office

    China is willing to work with the Association of Southeast Asian Nations (ASEAN) to deepen practical cooperation and write a new chapter in building a closer China-ASEAN community with a shared future, Chinese Vice Premier Ding Xuexiang said Tuesday.

    Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when addressing the opening ceremony of the 21st China-ASEAN Expo and the China-ASEAN Business and Investment Summit in Nanning, south China’s Guangxi Zhuang Autonomous Region.

    China and ASEAN enjoy a long history of friendly relations and are good neighbors, good friends and good partners, Ding noted, adding that China and ASEAN have always been moving forward hand in hand, which has become the most successful and dynamic model of Asia-Pacific regional cooperation and a vivid example of promoting the building of a community with a shared future for mankind.

    China is advancing its efforts to build a great modern socialist country in all respects and pursue national rejuvenation through a Chinese path to modernization, which will bring great opportunities to the world, Ding said.

    China will continue to follow the principle of amity, sincerity, mutual benefit and inclusiveness in neighborhood diplomacy, deepen practical cooperation with ASEAN countries, and write a new chapter in building a closer China-ASEAN community of shared future, he added.

    Ding called on China and ASEAN countries to elevate strategic mutual trust to new heights. Efforts should be made to implement the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative, further synergize their development strategies, and strengthen high-quality Belt and Road cooperation to better promote regional and global prosperity and stability, he said.

    He also called on China and ASEAN countries to advance open cooperation to a new level. Both sides should implement the Regional Comprehensive Economic Partnership Agreement (RCEP) with high quality, work for an early conclusion of the negotiations for version 3.0 of the China-ASEAN Free Trade Area (FTA), steadily expand institutional opening-up, and build a more stable and smooth cross-border industrial and supply chain, he added.

    China and ASEAN countries need to foster a new pattern of all-round connectivity, Ding said, urging the two sides to jointly build the New International Land-Sea Trade Corridor at a high level, and make solid progress in the development of important economic corridors and key projects.

    China and ASEAN countries should expand new areas of cooperation in science, technology and innovation, Ding said, adding that the two sides should jointly implement China-ASEAN science and technology innovation enhancement program, accelerate the construction of platforms such as joint laboratories, and ensure that more innovative achievements benefit the people of both sides.

    Ding also urged China and ASEAN countries to cultivate new highlights in mutual understanding and affinity among the people. Taking the China-ASEAN Year of People-to-People Exchanges as an opportunity, Ding said the two sides should further deepen exchanges and cooperation in culture, tourism, training, youth, and solidify the public opinion foundation of bilateral relations.

    Malaysia’s Prime Minister Anwar Ibrahim delivered a video address. Deputy Prime Minister and Minister in charge of the Office of the Council of Ministers of Cambodia Vongsey Vissoth, Deputy Prime Minister of Laos Kikeo Khaykhamphithoune, and Deputy Prime Minister and Minister of Finance of Vietnam Ho Duc Phoc, as well as Secretary-General of ASEAN Kao Kim Hourn attended the opening ceremony and delivered speeches successively.

    After the opening ceremony, Ding toured the exhibition hall and exchanged views with the heads of the exhibitors.

    MIL OSI China News –

    September 29, 2024
  • MIL-OSI China: Global agriculture conference to be held in Beijing

    Source: China State Council Information Office

    The 2024 World Agrifood Innovation Conference will be held in Beijing and will feature an array of events and activities, organizers announced at a press conference on Sept. 20. 

    Organizers brief reporters on preparations and events for the 2024 World Agrifood Innovation Conference during a press conference held in Pinggu district, Beijing, Sept. 20, 2024. [Photo/China.org.cn]

    This year’s conference, themed “Climate Change and Agrifood Systems Transformation,” is organized by China Agricultural University, the Pinggu District People’s Government of Beijing Municipality and the Beijing Municipal Bureau of Agriculture and Rural Affairs. The conference will include an opening ceremony, forums, side events and an expo. It will take place at the Beijing Jinhai Lake International Convention & Exhibition Center in Pinggu district, Beijing, from Oct. 10 to 12.

    The conference is intended to unite international experts, policymakers, industry leaders and innovators to address unprecedented challenges due to climate change, exploring strategies and solutions to make agrifood systems more resilient, sustainable and adaptive.

    Since the inaugural World Agrifood Innovation Conference in 2023, the event has received high recognition from domestic and international colleagues, being considered as one of the top three agricultural events in the world. With the goal of becoming the “Davos of agriculture,” this year’s conference has been upgraded to be a premier global gathering for agricultural science and technology innovation. 

    According to organizers, attendees will explore topics that focus on agricultural science and technology innovation, foster cooperation between industries, universities and research institutes, as well as cultivate new drivers for agricultural development. 

    Over 60 leaders and representatives from nearly 30 international organizations, including the Food and Agriculture Organization of the United Nations (FAO), the World Food Programme (WFP) and the International Fund for Agricultural Development (IFAD), will participate in the conference. The FAO will also organize a Scientific Advisory Committee meeting and a youth dialogue for the UN Food Systems Coordination Hub, marking the first time the hub’s important meetings will be held in China.

    During the conference, there will be a special event on China-Africa agricultural science and technology cooperation, as well as a parallel session on China-Brazil agricultural economic and trade cooperation and green development.

    Sun Qixin, president of China Agricultural University (CAU), revealed that this year, during the conference’s World Agricultural University Presidents’ Forum, CAU will further enhance both agricultural education and agricultural science and technology collaborations between China and Africa.

    “Especially, we will promote the effective model developed by China Agricultural University in Africa over the years for the application of scientific and technological research outcomes, so as to benefit more African countries,” he said.

    Besides Chinese academic institutions’ involvement in the conference, leading scientists and heads of major institutions of the Consultative Group on International Agricultural Research (CGIAR) will also be participating. They will discuss with top Chinese agricultural scientists and entrepreneurs the potential for hosting multiple CGIAR-funded research projects in China.

    The conference will feature over 40 parallel sessions, thematic meetings and side events, fostering dialogues among scientists, educators, entrepreneurs and investors to seamlessly integrate technological innovation with industrial application. Closed-door meetings will also connect global top animal husbandry scientists with Chinese agricultural entrepreneurs to discuss technology applications within Chinese enterprises. Major announcements, including the Pinggu Declaration and key FAO and CGIAR reports on agricultural innovation, are anticipated to be released during the event.

    In addition to formal dialogues and lectures, the conference will also organize the 2024 World AgriFood Technology Expo, showcasing the latest achievements, cutting-edge technologies and innovative products in the global agrifood sector. 

    The Beijing Municipal Bureau of Agriculture and Rural Affairs foreshadowed significant commercialization achievements during the conference. Since 2023, the bureau has facilitated connections with 15 key laboratories under the Ministry of Agriculture and Rural Affairs and enabled 76 companies to launch projects in Beijing’s Pinggu district in fields like modern seed industry, smart agriculture and intelligent equipment. It was announced at the press conference that the China Agricultural Science and Technology Innovation Port in Pinggu has entered the planning and construction phase, with plans to gradually introduce more national key laboratories, creating a cluster of labs focused on agricultural science and technology innovation.

    MIL OSI China News –

    September 29, 2024
  • MIL-OSI Asia-Pac: SCED visits Singapore to foster closer trade and economic ties (with photos)

    Source: Hong Kong Government special administrative region

    SCED visits Singapore to foster closer trade and economic ties (with photos)
    SCED visits Singapore to foster closer trade and economic ties (with photos)
    ****************************************************************************

         ​The Secretary for Commerce and Economic Development, Mr Algernon Yau, met with senior officials and business leaders in Singapore to deepen trade and economic ties, and explore collaboration opportunities on his visit to the country.      ​Mr Yau started his three-day visit on September 22. Hong Kong and Singapore have long been enjoying close and cordial bilateral trade and economic relations. Singapore is Hong Kong’s fourth-largest trading partner and largest partner among the Association of Southeast Asian Nations (ASEAN) member states in merchandise trade. Singapore is also Hong Kong’s seventh-largest investor and sixth-largest destination of outward investment.      ​During the visit, Mr Yau met with representatives from major business chambers of Singapore, including the Singapore Business Federation, the Association of Small & Medium Enterprises of Singapore, the Singapore International Chamber of Commerce and the Singapore Chinese Chamber of Commerce & Industry respectively to update them on Hong Kong’s latest development and measures on assisting enterprises in setting up businesses in Hong Kong. He also appealed to the Singaporean business sector to leverage Hong Kong’s unique advantages to explore the vast opportunities in the Mainland market, particularly the Guangdong-Hong Kong-Macao Greater Bay Area.      ​Meanwhile, Mr Yau had a lunch meeting with the Deputy Prime Minister and Minister for Trade and Industry of Singapore, Mr Gan Kim Yong, yesterday (September 23) to discuss various trade and economic issues and exchange views on the regional economic landscape. Mr Yau expressed gratitude to the support from Singapore for Hong Kong’s application for joining the Regional Comprehensive Economic Partnership (RCEP). He noted that Hong Kong always treasures Singapore as a valuable economic partner both on its own and as a member of the ASEAN family. By joining the RCEP, Hong Kong can contribute to the wider and deeper economic co-operation and integration in the region.      ​Mr Yau also paid a courtesy call on the Chinese Ambassador to Singapore, Mr Cao Zhongming, to update him on the latest situation of Hong Kong. He then had dinner with Hong Kong entrepreneurs and executives working in Singapore with a view to understanding their work and lives.      ​Mr Yau today (September 24) met with the Chairman of the Singapore Economic Development Board, Mr Png Cheong Boon, to learn about the latest developments of Singapore and exchange views on investment promotion. Mr Yau said he looked forward to further collaboration between Hong Kong and Singapore in different areas with a view to fostering even closer relations between the two economies.      ​Mr Yau concluded his visit and will return to Hong Kong this evening.

     
    Ends/Tuesday, September 24, 2024Issued at HKT 16:00

    NNNN

    MIL OSI Asia Pacific News –

    September 29, 2024
  • MIL-OSI Europe: Banks and financial institutions express support for expanding global production of fossil-free electricity from nuclear energy by 2050

    Source: Government of Sweden

    Banks and financial institutions express support for expanding global production of fossil-free electricity from nuclear energy by 2050 – Government.se

    Please enable javascript in your browser

    Press release from Ministry of Climate and Enterprise

    Published 24 September 2024

    Yesterday, 23 September, Minister for Energy, Business and Industry and Deputy Prime Minister Ebba Busch took part in a meeting between ministers and other high representatives of countries that backed a COP28 declaration on the need to triple production of nuclear energy by 2050. In conjunction with the meeting, global banks and financial institutions backed the countries’ ambition to increase production of electricity from nuclear energy.

    During the meeting, discussions touched on how to proceed from the declaration and how the countries could jointly realise this collaboration. Representatives of global banks and financial institutions took part in discussions on how to finance large-scale expansion. 

    “One of the greatest obstacles to the necessary expansion of nuclear energy is to secure financing. Governments, financial institutions and industry have critical roles to play in this endeavour. I am delighted by this decision, which attests to the shared view of nuclear energy’s importance among both governments and the financial sector,” says Ms Busch. 

    Countries that support the declaration

    Sweden, Armenia, Bulgaria, Canada, Croatia, Czechia, Finland, France, Ghana, Hungary, Jamaica, Japan, Moldova, Mongolia, Morocco, the Netherlands, Poland, Romania, Slovakia, Slovenia, South Korea, Ukraine, the United Arab Emirates, the United Kingdom and the United States.

    Background

    Interest for new nuclear energy is growing rapidly in many countries, including here in the EU. This applies both to countries that already have nuclear energy and those who had previously held a neutral or sceptical view of the technology. More and more countries are realising that everyone needs to secure fossil-free energy – both renewable and nuclear – to succeed in the green transition, strengthen competitiveness and achieve the climate goals. Major energy price increases following Russia’s invasion of Ukraine have also illustrated the importance of democratic countries not being reliant on dictatorships.

    Press contact

    MIL OSI Europe News –

    September 29, 2024
  • MIL-Evening Report: No RBA rate cut yet, but Governor Bullock is about to find the pressure overwhelming

    Source: The Conversation (Au and NZ) – By Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University

    Who’d want to be Reserve Bank Governor Michele Bullock? On Tuesday she had to do the almost impossible: defend a decision not to cut interest rates at a time when they were being cut in just about every other major industrial nation.

    On Thursday the US Federal Reserve joined the Bank of England, the Bank of Canada, the Reserve Bank of New Zealand and central banks in China, Sweden and the European Union in what its officials expect to be a series of cuts, kicking off with a double-header: a cut of 0.50 percentage points instead of the usual 0.25.

    In her press conference after Tuesday’s board meeting Governor Bullock said disinflation was “further advanced” in those countries than it was in Australia.

    Australian interest rates were “restrictive” (high enough to hurt) but were working “broadly as anticipated”.

    While household spending was weaker than had been expected, it would be

    some time yet before inflation is sustainably in the target range.

    But the problem with what she said, both after the meeting and in her statement, is inflation is probably already within the target range.

    Credibility gap

    The Reserve Bank’s target is 2-3%. Inflation hasn’t been there since it surged in 2021 as much of the world came out of lockdowns.

    On Wednesday, the day after Bullock’s announcement, the Bureau of Statistics will release the monthly consumer price index for August. It’s expected to be the first to show inflation back between 2% and 3%.

    Westpac is expecting an annual rate of 2.7%, comfortably back within the target band. When the more-comprehensive quarterly measure is released next month, Westpac is expecting 2.9%.

    If inflation is 2.7%, how can it be too high?

    Bullock squares her view that inflation is not yet moving sustainably towards the target with the reality that it is probably already there by saying she expects it to “pop back up again” when the temporary effect of electricity bill rebates wears off.

    The Commonwealth government announced $3.5 billion worth of rebates in the May budget. They will be applied automatically to electricity bills for each of the next four quarters, and topped by several of the states. In Queensland, they amount to $1,300 per household.

    A staged rollout means the rebates hit bills in only Queensland and West Australia in July and will hit other states in August. The Bureau of Statistics says they took 6.4% off the average national power price in July and Westpac expects them to take off a further 15% in August.

    A permanent 10% increase in the maximum rate of Commonwealth rent assistance delivered last week will put further downward pressure on inflation.

    It’s easy to see why Bullock thinks the temporary measures should be disregarded.

    The RBA says what matters is underlying inflation

    Bullock is directing attention to the Reserve Bank’s preferred measure of underlying inflation, a measure that excludes sharp movements and gives a better idea of where typical prices are heading.

    At 3.9% for the year to the June quarter, she says that measure is still too high. But it has been falling for each of the past six quarters and is on track to fall to 3.5% in the September quarter. By my way of thinking, that shows inflation is moving “sustainably towards the target range” in the way she says she wants.

    As in the US and the UK and New Zealand and all the other countries with which we compare ourselves, inflation doesn’t need to be actually back to the target before the authorities ease off on high interest rates. If they waited that long they would overshoot and push inflation too low.

    But headline inflation matters in its own right

    In any event, a low headline inflation rate is important in its own right, however it is achieved. It’s the rate the Reserve Bank prints at the top of its website, the rate that’s published in the media and the rate that people experience.

    If inflation is actually low, however that is brought about, shoppers become less tolerant of price rises (something the Reserve Bank says is happening) and less keen to demand high wage rises (something that is also happening).

    They also become less keen to rush out and buy things before their price goes up, something that can perpetuate high inflation.

    Right now we are doing everything but rushing out to push up prices.

    A briefing note prepared by the Australian Council of Social Service ahead of Tuesday’s Reserve Bank board meeting says real household disposable income per capita has fallen by almost 8% since inflation and interest rates began climbing, far more than in the US, the UK, Germany and Canada.

    Bullock is about to get more chances to cut

    There’s a chance the tax cuts that began in July will give spending a bit of a boost but much of whatever extra spending there is will be on imports, and the steadily climbing Australian dollar is making them cheaper by the day.

    The Australian dollar hit a new high for the year of 68.5 US cents on Tuesday on the back of a widening differential between US and Australian interest rates as the US cuts rates.

    Governor Bullock gets two more opportunities to cut rates this year, at the board meeting on Melbourne Cup Tuesday November 5 shortly after news of very low inflation in the September quarter, and on December 9 shortly after news of economic growth likely to show income per person going further backwards.

    There’s a fair chance she will take one of them.

    Peter Martin is Economics Editor of The Conversation.

    – ref. No RBA rate cut yet, but Governor Bullock is about to find the pressure overwhelming – https://theconversation.com/no-rba-rate-cut-yet-but-governor-bullock-is-about-to-find-the-pressure-overwhelming-239603

    MIL OSI Analysis – EveningReport.nz –

    September 29, 2024
  • MIL-OSI: RATP chooses Eviden’s embedded TETRA radio services solutions to equip its metro trains and tramways

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    RATP chooses Eviden’s embedded TETRA radio services solutions

    to equip its metro trains and tramways

    InnoTrans, Berlin, Germany and Paris, France – September 24, 2024 – Eviden, the Atos Group business leading in digital, cloud, big data and security today announces it has won RATP1’s tender to equip its MP14 and new MF19 metro trains and also the TW20 tramways of the Parisian rail company with TETRA radio communication systems between the line’s Centralized Control Station and the various rolling stocks. The contract covers 132 radio equipments, with an option for 800 radio equipments over a maximum period of 8 years.

    RATP is a long-standing Eviden partner. The company has already equipped its previous metro fleet with Eviden’s TETRA embedded radio technology. This time, the customer’s biggest challenge is to modernize its transport infrastructure network and extend certain lines with new rolling stock to safely accommodate more passengers. In concrete terms, the solution will play a pivotal role in modernizing RATP’s existing embedded radio systems, ensuring their long-term viability as they increasingly demand greater computing power for voice/data and safety/security services, while requiring minimal onboard space.

    This project marks one of RATP’s final uses of this technology as the organization prepares for a significant technological overhaul of its metro fleet starting 2035. The MP14 and upcoming MF19 metro trains, as along with the TW20 tramways are being developed by Alstom, another key partner of Eviden.

    Valérie Petat, Head of Industrial Systems and Services, Mission Critical Systems, at Eviden, Atos Group said “This new collaboration further underscores RATP’s long-standing trust in Eviden’s technology and expertise in the railway sector. We are confident that this partnership will strengthen our position as a preferred partner for RATP’s future major projects.”

    The Eviden solution chosen by RATP includes the following range of embedded radio voice-data services:

    – the MAV (Audio-Visual Means) system for automatic metro lines.
    – the Radio driver Metro service for manual lines.
    – the TETRA (TErrestrial Trunk Radio) Tramway service.

    ***

    Note to editors:

    TETRA: scalable and secured mobile radio system
    The radios supplied are based on TETRA technology. TETRA is a digital trunked mobile radio standard developed to meet the needs of traditional Professional Mobile Radio (PMR) user organizations in terms of performance, availability, safety, and security. Its scalable architecture allows economic network deployments ranging from single site local area coverage to multiple site wide area national coverage.

    About Eviden2

    Eviden is a next-gen technology leader in data-driven, trusted and sustainable digital transformation with a strong portfolio of patented technologies. With worldwide leading positions in advanced computing, security, AI, cloud and digital platforms, it provides deep expertise for all industries in more than 47 countries. Bringing together 47,000 world-class talents, Eviden expands the possibilities of data and technology across the digital continuum, now and for generations to come. Eviden is an Atos Group company with an annual revenue of c. € 5 billion.

    About Atos

    Atos is a global leader in digital transformation with c. 92,000 employees and annual revenue of c. € 10 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 69 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea), and listed on Euronext Paris.

    The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

    Press contact

    Zohra Dali – zohra.dali.external@eviden.com – +33 (0) 6 71 92 71 87


    1 RATP: Régie Autonome des Transports Parisiens, is the French state-owned enterprise that operates public transport systems. It primarily serves the Paris metropolitan area and is responsible for the operation of most public transportation in the city.

    2 Eviden business is operated through the following brands: AppCentrica, ATHEA, Cloudamize, Cloudreach, Cryptovision, DataSentics, Edifixio, Energy4U, Engage ESM, Evidian, Forensik, IDEAL GRP, In Fidem, Ipsotek, Maven Wave, Profit4SF, SEC Consult, Visual BI, Worldgrid, X-Perion. Eviden is a registered trademark.

    Eviden is a registered trademark. © Eviden SAS, 2024.

    Attachment

    • RATP chooses Evidens embedded TETRA radio services solutions to equip its metro trains and tramways

    The MIL Network –

    September 29, 2024
  • MIL-OSI: Chemins de Fer Luxembourgeois (CFL) chooses Eviden to deploy end-to-end next generation railway mission-critical communication systems

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    Chemins de Fer Luxembourgeois (CFL) chooses Eviden to deploy end-to-end

    next generation railway mission-critical communication systems

    InnoTrans, Berlin, Germany and Paris, France, September 24, 2024 – Eviden, the Atos Group business leading in digital, cloud, big data and security today announces that Luxembourg National Railway Company (Chemins de Fer Luxembourgeois i.e. CFL), has chosen Eviden’s next generation railway critical communication solutions, to modernize its existing GSM-R command and control room network and maximize the safety and operational efficiency of its railway operations.

    The solution will be fully operational by the end of 2026. This is one of the first commercial MCx projects in Europe deployed by a railway company, and a first step towards FRCMS (Future Railway Mobile Communication System), the future international wireless standard for railway communications and applications.

    The solution chosen by CFL is based on an innovative, standardized 3GPP solution for railway enhancement. Eviden’s team of experts adapted this technology to CFL’s needs, ensuring that the MCx system interoperates with the PBX, Wi-Fi, 4G/5G MNOs and GSM-R. The solution integrates the Lifelink solution which includes the MCx application suite, cyber security, a voice recorder and a dispatching system.

    CFL carried around 28,7 million passengers in 2023 and moved 2.303 million of tons-km last year. It employs more than 5.000 people, making it the country’s largest corporate employer in Luxemburg.​

    Lionel Toullier, Global Head of Critical Communication Solutions, Eviden, Atos Group said “Eviden was chosen because we were able to offer CFL an advanced end-to-end solution that modernizes their legacy dispatching system and integrates Eviden’s innovative MCx solutions. Further system upgrades are planned in the future, in line with the latest standards to ensure continued progress in rail safety for CFL.”

    Mathieu Perrus, Infrastructure Engineering Department, Telecommunications Division, Société Nationale des Chemins de Fer Luxembourgeois, said “This project will enable us to reach a new milestone by becoming one of the first European railway companies to deploy a next-generation critical communication system (MCx). Our aim is to implement these solutions across all our national railroads, in line with evolving industry standards.”

    ***

    About Eviden1

    Eviden is a next-gen technology leader in data-driven, trusted and sustainable digital transformation with a strong portfolio of patented technologies. With worldwide leading positions in advanced computing, security, AI, cloud and digital platforms, it provides deep expertise for all industries in more than 47 countries. Bringing together 47,000 world-class talents, Eviden expands the possibilities of data and technology across the digital continuum, now and for generations to come. Eviden is an Atos Group company with an annual revenue of c. € 5 billion.

    About Atos

    Atos is a global leader in digital transformation with 92,000 employees and annual revenue of c. € 10 billion. European number one in cybersecurity, cloud and high-performance computing, the Group provides tailored end-to-end solutions for all industries in 69 countries. A pioneer in decarbonization services and products, Atos is committed to a secure and decarbonized digital for its clients. Atos is a SE (Societas Europaea), and listed on Euronext Paris.

    The purpose of Atos is to help design the future of the information space. Its expertise and services support the development of knowledge, education and research in a multicultural approach and contribute to the development of scientific and technological excellence. Across the world, the Group enables its customers and employees, and members of societies at large to live, work and develop sustainably, in a safe and secure information space.

    Press contact

    Zohra Dali – zohra.dali.external@eviden.com – +33 (0) 6 71 92 71 87


    1 Eviden business is operated through the following brands: AppCentrica, ATHEA, Cloudamize, Cloudreach, Cryptovision, DataSentics, Edifixio, Energy4U, Engage ESM, Evidian, Forensik, IDEAL GRP, In Fidem, Ipsotek, Maven Wave, Profit4SF, SEC Consult, Visual BI, Worldgrid, X-Perion. Eviden is a registered trademark.

    Eviden is a registered trademark. © Eviden SAS, 2024.

    Attachment

    • Chemins de Fer Luxembourgeois (CFL) chooses Eviden to deploy end-to-end next generation railway mission-critical communication systems (01)_

    The MIL Network –

    September 29, 2024
  • MIL-OSI Submissions: Economy – Gebrüder Weiss opens second location in Greater Bucharest

    Source: Gebrüder Weiss

    New terminal in Popesti-Leordeni to optimize the delivery of goods in the metropolitan area / Logistics expert celebrates 30-year anniversary in Romania / 700 employees at 13 locations handle 1.1 million consignments per year

    Bucharest / Lauterach, September 24, 2024. The international transport and logistics company Gebrüder Weiss has expanded its location network in Romania. South-east of Bucharest, in Popesti-Leordeni, the logistics provider has officially launched operations at a new terminal, following a major investment of 20 million euros.

    “The second location complements our existing facility west of the capital in Bolintin-Deal, thus facilitating an even more efficient distribution of goods in the metropolitan area. In this way, we offer first-rate conditions to provide even better logistics support to Romania’s emerging economy,” affirms Wolfram Senger-Weiss, CEO of Gebrüder Weiss.

    The modern terminal has an area of around 19,000 square meters for warehouse logistics, transshipment, administration, and favorable transport connections to the Black Sea port of Constanta and neighboring Bulgaria. It is equipped with heat pumps, and the installation of a photovoltaic (PV) system is under consideration for the future, along with charging stations for electric vehicles. One of the location’s customers is an international paint manufacturer, for whom Gebrüder Weiss stores 12,000 pallets for distribution across the country.

    “The increasing traffic load in the capital requires a two-terminal solution enabling us to supply the metropolitan area from two geographic directions, thus making the distribution of goods more efficient,” Country Manager Viorel Leca explains. In the first six months of 2024, the new hub handled 78,000 shipments with a total weight of more than 35,000 tons. “In light of our current warehouse occupancy rate of 70%, we are planning to expand our client portfolio in the near future. The purchased land, with a total area of 70,000 square meters, allows us to build additional storage and cross-dock spaces, depending on future projects”, Viorel Leca added.

    30th anniversary of Gebrüder Weiss Romania

    The opening of the new terminal coincides with Gebrüder Weiss celebrating the thirtieth anniversary of its entry into the market in Romania. Gebrüder Weiss operates a comprehensive network of 13 locations across the country’s key economic regions.

    “Over the past 30 years, Romania’s economic development has been impressive, and the country has become a sought-after manufacturing location. We are going to support the growth of industry and commerce in Romania with our logistics know-how into the future,” says Thomas Moser, Director and Regional Manager Black Sea/CIS at Gebrüder Weiss.

    In the past year, 700 employees handled some 1.1 million shipments. Customers include international companies in the automotive, technology, and consumer goods sectors. From its Romanian locations, the logistics provider operates transports by truck to Germany, France, Hungary, and the Czech Republic and handles air and sea freight transports to destinations all over the world.

    About Gebrüder Weiss

    Gebrüder Weiss Holding AG, based in Lauterach, Austria, is a globally operative full-service logistics provider with about 8,600 employees at 180 company-owned locations. The company generated revenues of 2.46 billion euros in 2023. Its portfolio encompasses transport and logistics solutions, digital services, and supply chain management. The twin strengths of digital and physical competence enable Gebrüder Weiss to respond swiftly and flexibly to customers’ needs. The family-run organization – with a history going back more than half a millennium – has implemented a wide variety of environmental, economic, and social initiatives. Today, it is also considered a pioneer in sustainable business practices. www.gw-world.com

    MIL OSI – Submitted News –

    September 29, 2024
  • MIL-OSI: Bitget Wallet Outlines Roadmap in TOKEN2049: Simplifying Web3 for the Next Billion Users

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Sept. 24, 2024 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, presented a vision centered around bringing blockchain technology to everyday users during TOKEN2049 in Singapore. Alongside engaging with the community at the TOKEN2049 conference, Bitget Wallet actively participated in various partner events to further discussions around Web3 innovation. Alvin Kan, COO at Bitget Wallet, shared the company’s strategy to make Web3 accessible by simplifying user experiences and integrating blockchain into daily life. “The next billion Web3 users will come from seamless, user-friendly experiences that erase the lines between Web2 and Web3,” he stated. Bitget Wallet’s growth underscores this vision, with the platform recently surpassing 30 million users worldwide and becoming the most downloaded Web3 wallet app globally, according to App Store and Google Play data.

    Bridging Web2 and Web3 with Simplified Payments

    Kan outlined Bitget Wallet’s plans to break down barriers between Web2 and Web3, starting with payments. In a fireside chat titled “Defining Payment” alongside leaders from Solana Foundation, Fireblocks, and DCS Card Centre, Kan revealed Bitget Wallet’s development of a Web3 payment solution with keyless access and cross-chain functionality, aiming to make crypto payments as intuitive as traditional ones. Bitget Wallet also plans to launch a crypto-to-fiat solution, enabling users to seamlessly convert and spend crypto on daily transactions while retaining full control over their assets in a self-custodial wallet.

    Redefining Gaming in the TON Ecosystem

    At the TON Open Art panel, Kan discussed Web3 gaming’s evolution with TON Foundation and other projects, highlighting Bitget Wallet’s involvement in the TON ecosystem. He pointed to gaming projects on TON are shifting from single-game models to robust ecosystems designed for long-term user engagement. Kan emphasized that future Web3 gaming will incorporate more long-term incentive mechanisms to ensure continuous participation, moving away from short-lived promotions like airdrops. He also stressed the growing role of social elements in gaming, particularly in Telegram mini-games that leverage the platform’s vast user base. “The next wave of Web3 gaming will integrate social aspects, making games within Telegram deeply immersive,” Kan noted.

    Fueling Web3 Ecosystem Growth

    At the Morph Consumer Day panel, Kan highlighted that consumer adoption of blockchain technology is the final unlock for Web3’s mass adoption, and real-life use cases will be the focus as more Web2 institutions coming into the space. Kan highlighted that Bitget Wallet has already partnered with over 100 mainnets, including major networks like Bitcoin, Ethereum, Solana, Base, and TON. These collaborations are part of Bitget Wallet’s broader strategy to create a long-term ecosystem by offering seamless user experiences and robust reward mechanisms, driving more decentralized applications (DApps) to mainstream user. Kan said: “Our focus is on empowering our partners, creating seamless user experience and developing long-term incentive structures to keep users engaged within the Web3 ecosystem.”

    About Bitget Wallet

    Bitget Wallet stands as one of the world’s leading non-custodial Web3 wallets and decentralized ecosystem platform. With the Bitget Onchain Layer, the wallet is well-poised to develop a burgeoning DeFi ecosystem through co-creation and strategic incubation. Aside from a powerful Swap function, Bitget Wallet also offers multi-chain asset management, smart money insights, a native Launchpad, Inscriptions Center, and an Earning Center. Supporting over 100 major blockchains, 250,000+ tokens, and a wide array of DApps, Bitget Wallet is your top wallet for asset discovery and Web3 exploration.

    For more information, visit: Website | Twitter | Telegram | Discord

    The MIL Network –

    September 29, 2024
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