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Category: Business

  • MIL-OSI China: China pledges joint efforts with ASEAN to build closer community with shared future: vice premier

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

    China pledges joint efforts with ASEAN to build closer community with shared future: vice premier

    NANNING, Sept. 24 — 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 Russia: Additive technologies and new materials: prospects for the fuel and energy complex

    MIL OSI Translation. Region: Russian Federation –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The technical session “Additive technologies and new materials in the fuel and energy complex of the Russian Federation” was held in the research building of Technopolis Polytech. The organizers were the Institute of Mechanical Engineering, Materials and Transport of SPbPU together with PAO Gazprom.

    The event participants were greeted by the rector of the Polytechnic University Andrey Rudskoy and the head of the department of PJSC Gazprom Viktor Sharokhin.

    We are very grateful to Gazprom for the fact that Polytech became the venue for the first strategic session dedicated to the development of the additive technology industry. Round tables and discussions will take place today, which, I am sure, will open up new prospects for the use of additive technologies at enterprises of the fuel and energy complex. Without a doubt, this will make a significant contribution to ensuring the technological sovereignty of our country, – Andrey Ivanovich noted.

    It is already obvious that additive technologies can find wide application in the gas industry. However, before that, solutions to a number of issues of both technical and innovative nature must be found. One of the goals of today’s event is to establish a dialogue between the corporate sector, the scientific community and business to remove barriers to additive manufacturing, Viktor Yuryevich emphasized.

    The Semenov Conference Hall hosted a plenary session on Additive Technologies and New Materials, attended by representatives of universities, industry associations, engineering and manufacturing companies. Director of IMMiT and session moderator Anatoly Popovich outlined the topic of the meeting and invited experts to participate in the discussion.

    This year, for the first time, we organized a technical session dedicated to additive technologies and new materials. This is extremely important, since the role of advanced production methods in our industry opens up new horizons for cooperation between science and industry, Anatoly Anatolyevich is confident.

    The session participants discussed modern achievements in the development of additive technology methods and considered the areas of their application in the fuel and energy complex.

    The exhibition display in the lobby of the Technopolis Polytech research building, where employees of the Institute of Mechanical Engineering, Materials and Transport of SPbPU presented their developments, aroused great interest.

    The session also included two round tables: “Practical aspects of the application of additive technologies” and “Scientific and technical aspects of the application of additive technologies”.

    At the IMMiT production center, research staff presented guests with production capacities and equipment in the field of additive manufacturing.

    The event ended with a tour of the research laboratory “Laser and Additive Technologies”. Its head Mikhail Kuznetsov showed the session participants the production facilities of the division.

    Photo archive

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

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

    https://vvv.spbstu.ru/media/nevs/partnership/additive-technologies-and-new-materials-prospects-for-fuel-energy-complex/

    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 United Kingdom: Proposed City Centre West Regeneration Masterplan Unveiled

    Source: City of Wolverhampton

    As well as delivering up to 1,000 new homes, including affordable homes, the masterplan will showcase options for phase one of the scheme – an enhanced Market Square with green spaces.

    During the course of the masterplan, opportunities for new shops, cafes, and restaurants will also be included, with potential for outdoor seating.

    The Council and ECF have entered into a Development Agreement to bring forward proposals for City Centre West, which features prominently in the Wolverhampton Investment Prospectus and the City Centre Local Area Action Plan.

    The release of the masterplan follows an initial period of engagement in July, which helped finalise the vision. The sessions, where residents will be able to view the masterplan in detail and ask questions of the team, have also been arranged:

    • Saturday 28 September – 1pm to 4pm, The Way Youth Centre, School Street
    • Wednesday 2 October – 12 to 7pm, Urban Room, 18 Queen Square

    Councillor Chris Burden, Cabinet Member for City Development, Jobs, and Skills, at City of Wolverhampton Council, said: “The proposed masterplan is the result of significant collaboration between ECF and the Council, but also residents who have offered their perspectives on the opportunities ahead.

    “City Centre West is an opportunity to put people at the heart of the city with new homes, shops, cafes or restaurants.

    “The vision and masterplan could be truly transformational for Wolverhampton, so I encourage people to continue to engage and share their views.”

    Basit Ali, Development Director – Midlands at Muse, development partner in ECF, added: “Our initial engagement sessions in July were extremely helpful as we finalised our masterplan and vision.

    “We heard very clearly that people wanted something which attracts people into the city centre and creates a vibrant and exciting place to spend time. That feedback has helped steer and guide our approach.

    “By delivering new homes at a transformational scale, and curating a new city centre neighbourhood, we can boost the economy and create real opportunity for established and new communities.” 

    MIL OSI United Kingdom –

    September 29, 2024

  • MIL-OSI Asia-Pac: Hong Kong rose to third place globally in Global Financial Centres Index

    Source: Hong Kong Government special administrative region

         Hong Kong ranked third globally in the Global Financial Centres Index (GFCI) 36 Report published today (September 24) by Z/Yen from the United Kingdom and the China Development Institute from Shenzhen, moving up one place from the March issue of the index this year. Hong Kong also ranked first in the Asia-Pacific region. The overall rating increased by eight points, the largest improvement among the top five financial centres.
     
    ​     A Government spokesman said, “The report clearly affirms Hong Kong’s status and strengths as a leading global financial centre. Hong Kong’s scores were rated among the top in various areas of competitiveness, including ‘business environment’, ‘human capital’, ‘infrastructure’, and ‘reputational and general’. Hong Kong’s rankings in various financial industry sectors also rose significantly, including ‘investment management’, ‘insurance’, ‘banking’ and ‘professional services’. Among them, the ranking in ‘investment management’ advanced to first globally. In addition, the report assessed the financial centres’ fintech offerings, and Hong Kong’s ranking rose five places to ninth, making it among the top 10 fintech hubs.”
     
    ​     Hong Kong’s asset and wealth management business is booming, with assets under management growing by about 2 per cent from the previous year to more than HK$31 trillion in end-2023. Net fund inflows reached HK$390 billion, representing a year-on-year increase of over 3.4 times. The development of the family office business in Hong Kong continues to gain momentum. The New Capital Investment Entrant Scheme has continued to receive overwhelming response since its launch in March, with more than 550 applications received so far. It is expected to bring in more than HK$16.5 billion in investments to Hong Kong.
     
    ​     The spokesman added, “As an international financial centre, Hong Kong brings together the world’s top financial institutions and talent, provides professional financial services, and owns a deep and broad capital market. Our regulatory system aligns with those of major overseas markets, with the free flow of information and capital. Under ‘one country, two systems’, Hong Kong’s unique position of having the strong support of the motherland while being closely connected to the world empowers us to fully leverage our role as a ‘super connector’ and ‘super value-adder’.
     
    ​     “The Government will continue to actively understand, respond to and embrace changes to promote the high-quality development of the financial sector. In the stock market, we are proactively enhancing its breadth and depth as well as boosting market efficiency and competitiveness, including establishing the listing regime for specialist technology companies, reforming GEM, maintaining trading under severe weather, facilitating share buyback and introducing the new treasury share regime, and further attracting listing. We are also endeavouring to deepen financial mutual access between the Mainland and Hong Kong so as to further strengthen Hong Kong’s role in connecting the Mainland and international capital markets. Measures include expanding the eligible scope of exchange-traded funds under Stock Connect, and taking forward a series of enhancements to Swap Connect. Regarding green finance, Hong Kong is working on the full adoption of the International Financial Reporting Standards – Sustainability Disclosure Standards (ISSB Standards) for sustainability reporting. We also seek to create healthy and suitable conditions for the development of virtual assets (VA) by improving the regulatory framework with the proposed licensing regimes for fiat-referenced stablecoin issuers and VA over-the-counter service providers, so as to promote the sustainable development of Hong Kong’s Web3 ecosystem. We are also strengthening the nurture of talent in various financial fields through launching a series of internship and training schemes, with a view to building a sustainable talent pool for the financial sector in Hong Kong.”
     
    ​     The GFCI Report is released in March and September every year since 2007. In GFCI 36, 121 financial centres were assessed, and Hong Kong ranked third globally with an overall rating of 749.

    MIL OSI Asia Pacific News –

    September 29, 2024

  • MIL-OSI Asia-Pac: Good Employer Charter 2024 Presentation Ceremony and Good Employee Recognition Campaign Kick-off Ceremony held today

    Source: Hong Kong Government special administrative region

    Good Employer Charter 2024 Presentation Ceremony and Good Employee Recognition Campaign Kick-off Ceremony held today
    Good Employer Charter 2024 Presentation Ceremony and Good Employee Recognition Campaign Kick-off Ceremony held today
    ******************************************************************************************

          The Labour Department (LD) held the Good Employer Charter 2024 (Charter 2024) Presentation Ceremony and the Good Employee Recognition Campaign Kick-off Ceremony today (September 24), commending all good employers while launching the Good Employee Recognition Campaign.       Speaking at the ceremony, the Secretary for Labour and Welfare, Mr Chris Sun, expressed gratitude to every good employer for implementing flexible work arrangements and offering assistance to employees to enable them to balance the needs of work and personal lives, which are conducive to unleashing the potential of the local labour force.      Various sectors have supported the Charter 2024, with a total of 1 596 organisations being accredited as signatories, representing an increase of nearly 70 per cent from the previous term. Among them, 1 002 organisations are authorised to use the “Supportive Family-friendly Good Employer” logo which symbolises a commitment to promoting a family-friendly employment culture. Moreover, 318 organisations have been signatories for three consecutive terms with consistent good human resource management practices in place. Representatives from three signatories of the Charter 2024 shared their successful experiences in carrying out good human resource management and family-friendly employment practices at the event today.       In furtherance of the Charter 2024, the LD launched for the first time the Good Employee Recognition Campaign to encourage participating signatories to nominate their employees to join the Campaign to express their gratitude and recognition for their contributions. Good employees can be measured in the following five key aspects, namely work ability, attitude to clients, adaptability, team spirit, and a sense of belonging to the organisation. Nominated employees or teams being accredited by the panel of judges will each be awarded the Good Employee Commendation Certificate and a lapel pin to recognise their outstanding performances and contributions to the organisations.      The Presentation Ceremony and the Kick-off Ceremony is one of the signature events in celebration of the 75th anniversary of the founding of the People’s Republic of China. Mr Sun said that the current-term Government attached great importance to improving employees’ benefits, promoting employment, and protecting the occupational safety and health of employees. He hoped that different groups in society would continue to support the government-led Charter and the Good Employee Recognition Campaign, and work together closely to foster win-win labour relations as well as a harmonious and inclusive community.      The LD has published a newspaper supplement introducing the Charter 2024 and the Good Employee Recognition Campaign as well as major initiatives of the current-term Government to improve employees’ rights and benefits. For details of Charter 2024 and the Good Employee Recognition Campaign, please visit the website: www.gec.labour.gov.hk.     The Good Employer Charter has come to its third round since it was first awarded in 2018, and is supported by eight organisations, namely the Chinese General Chamber of Commerce, Hong Kong; the Chinese Manufacturers’ Association of Hong Kong; the Employers’ Federation of Hong Kong; the Federation of Hong Kong Industries; the Hong Kong General Chamber of Commerce; the Hong Kong General Chamber of Small and Medium Business; the Hong Kong Institute of Human Resource Management, and the Hong Kong Small and Medium Enterprises Association. The aforementioned organisations, together with the Hong Kong Federation of Trade Unions and the Federation of Hong Kong and Kowloon Labour Unions, are supporting organisations of the Good Employee Recognition Campaign. 

     
    Ends/Tuesday, September 24, 2024Issued at HKT 16:30

    NNNN

    MIL OSI Asia Pacific News –

    September 29, 2024

  • MIL-OSI Economics: Samsung’s Biggest Festive Sale ‘Fab Grab Fest’ is back with Never-seen Before Deals & Offers on Smartphones, Digital Appliances, Smart Televisions, Monitors, Tablets & More

    Source: Samsung

     
    Samsung, India’s largest customer electronics brand, today announced its biggest festive sale ‘Fab Grab Fest’ starting 26th September, offering exciting deals and cashback on Galaxy smartphones, tablets, laptops, accessories, wearables, smart televisions, digital appliances and smart monitors. These never-before offers will be available on Samsung.com, Samsung Shop App and Samsung Exclusive Stores.
     
    Buy More Save More
    At heart of this festive sale will be Buy More Save More, where customers can avail an additional up to 5% discount when purchasing two or more products. This offer is only applicable on select smartphones, wearables, smart televisions and digital appliances while purchasing through Samsung.com or Samsung Shop App.
     
    As part of Buy More Save More, Consumers buying the Galaxy Z Fold6 can get Galaxy Buds FE at just ₹ 1249 in addition to all other applicable offers. Similarly, those buying the Galaxy Book4 can get a FHD Flat Monitor at just ₹ 1920. There are also a host of other products at no extra cost such as convection microwave when customer purchases the BESPOKE Family Hub Fridge & a Q-Symphony Soundbar when customers purchase the Neo QLED 8K Smart Television.
    Samsung’s commitment of delivering more value is what’s sets Fab Grab Fest apart. Beyond price discounts, bank cashback offers and exchange deals, ‘Buy More, Save More’ ensures that Samsung.com customers get a little extra for every purchase, whether it is smartphones, accessories, smart televisions or digital appliances.
     
    Fab Grab Fest will not only offer best prices but also unmatched value through Samsung’s trusted Direct-to Consumer channels. Alongside special deals, customers can be assured of the quality, authenticity, and product availability.
     
    During ‘Fab Grab Fest’, consumers can get up to 53% off on select models of the Galaxy Z series, Galaxy S series, and Galaxy A series smartphones. Select models of Galaxy Book4 series laptops will be available at a discount of up to 27% off, while specific models of Tab A9 and Tab S9 series, Buds3 Series, Galaxy Watch Series will have up to 74% off.
     
    The offers extend beyond smartphones with up to 43% off on Samsung Smart Televisions – Neo QLED 8K, Neo QLED, QLED, The Frame and  Crystal 4K UHD, The Freestyle projector. Additionally, customers purchasing select 55-inch and above models will be able to get their  hands on a free Samsung Smart Television or Soundbar. During this festive sale, Samsung will also extend a three- years Comprehensive Warranty for free on select 32″ and above Smart Televisions.
     
    Samsung’s monitors will be available at up to 67% off. Additionally, select smart and gaming monitors can fetch instant cart discount of up to ₹ 10000.
     
    The excitement doesn’t end here, Customers can get up to 39% off on a wide range of premium appliances such as Side by Side and French Door Refrigerators. They will also get a 20-year warranty on Digital Inverter Compressors. Front Load and Top Load washing machines of 8Kg and above capacity will have up to 28% off and 20 years warranty on Digital Inverter motor. There will also be an instant cart discount of up to ₹ 2000 on select 9Kg Fully Automatic Front Loading washing machines.
     
    Cashback on with ICICI, HDFC and SBI and other leading banks
     
    Consumers can enjoy up to 40% cashback (up to ₹ 15000) on select smartphones, tablets, wearables, and laptops when using debit and credit cards from ICICI, HDFC, and other leading banks during the Fab Grab Fest.
     
    Additionally, for purchases of select smart televisions and digital appliances customers can avail up to 22.5% cashback (up to ₹ 25000) when using debit or credit cards from ICICI, HDFC, SBI and other leading banks as part of the Fab Grab Fest offers.
    Fab Grab Fest Offers
    Products / Category
    Consumer Offer
    Highlight Models
    Smartphones
    Up to 53% off
    Galaxy Z Fold6, Galaxy Z Flip6, Galaxy S24 Ultra, Galaxy S24+, Galaxy S24, Galaxy S23 Ultra, Galaxy S23+, Galaxy S23, Galaxy S23 FE, Galaxy A55 5G, Galaxy A35 5G, Galaxy M35 5G, Galaxy M15 5G, Galaxy F55 5G
    Laptops
    Up to 27% off
    Galaxy Book4 Pro 360, Galaxy Book4 Pro, Galaxy Book4 360, Galaxy Book4
    Tablets, Accessories & Wearables
    Up to 74% off
    Galaxy Tab S10 Series, Galaxy Tab S9 Series, Galaxy Tab S9 FE+, Galaxy Tab S9 FE, Galaxy Tab A9+, Galaxy Tab A9, Galaxy Watch7 Series, Galaxy Watch Ultra, Galaxy Watch FE, Galaxy Buds3 Pro, Galaxy Buds3, Galaxy Buds FE, Galaxy Fit3
    TVs
    Up to 43% off
    Special Offer: Free Neo QLED 8K, Neo QLED, Crystal 4K UHD TVs and Soundbars*
    3 Years Comprehensive Warranty^
    Neo QLED 8K, QLED, The Frame, Crystal 4K UHD, The Freestyle
    *Select 55″ & above TVs
    ^Select 32″ and above TVs
    Refrigerators
    Up to 39% off
    20 Years warranty on Digital Inverter Compressor
    Get Instant Cart Discount of up to ₹ 5000**
    Starting EMI : ₹ 3990 /mo. for French Door Refrigerators & Side by Side RefrigeratorsSpecial Offer :  – Buy Side by Side or French Door Refrigerators and get one year extended warranty at ₹ 449~
    All Side by Side and French Door Refrigerators
    **Select Side by Side refrigerators
    ~ Select Side by Side & French Door refrigerators (RF87 / RF90)
    Washing Machines
    Up to 28% off
    20 years warranty on Digital Inverter motor
    Fully Automatic Front Loading: Starting EMI ₹ 1990
    Fully Automatic Top Loading: Starting EMI ₹ 990
    Get instant cart discount of up to ₹2000^^^
    All Front Load >= 8Kg | Top Load > =8Kg washing machines
    ^^^ Select 9Kg Fully Automatic Front Loading models
    Microwaves
    Up to 31% off
    10-year warranty on Ceramic Enamel Cavity
    Get Instant Cart Discount of up to ₹ 500~~
    All Microwaves
    ~~ Select 28L Convection microwave ovens
    Monitors
    Up to 67% off
    Get instant cart discount of up to ₹ 10000***
    All Monitors
    ***Select Smart and Gaming monitors
    Bank Cashback
    Up to 40% cashback with ICICI, HDFC,  and other leading bank debit and credit cards (Up to ₹ 15000) ##
    Up to 22.5% cashback with ICICI, HDFC, SBI and other leading bank cards (Up to ₹ 25000)^^
    ## Smartphones, tablets, wearables, and laptops.
    ^^ Select TVs & Digital Appliances
     

    MIL OSI Economics –

    September 29, 2024

  • MIL-OSI: Zavanna Announces Equity Investment From Carnelian Energy Capital

    Source: GlobeNewswire (MIL-OSI)

    DENVER, Sept. 24, 2024 (GLOBE NEWSWIRE) — Denver-based Zavanna, LLC (“Zavanna”) announced that it has received an equity investment from investment funds managed by Carnelian Energy Capital Management, L.P. (“Carnelian”). The new capital will be utilized to recapitalize the company and fund development across its core Williston Basin asset base.  

    Zavanna was founded by Bill Coleman in 1994 and has been led by David Hodges (Chief Executive Officer) and Matt Ott (Chief Financial Officer) for over a decade. During that time, the company has aggregated a contiguous acreage position of more than 150 Bakken and Three Forks drilling locations. Management and Coleman maintain a significant ownership stake in the company alongside Carnelian.

    “Zavanna has one of the deepest inventories of drilling locations in the core Bakken fairway of Williams and McKenzie Counties, and these development projects are among the most economic in North America,” said Kevin Goodman, a Carnelian Managing Director. “We are excited to be partnering with the management team to accelerate development.”

    “Carnelian’s flexible and collaborative approach allowed us to quickly structure and execute a transaction that brings considerable growth capital to the company,” said Hodges.  

    “In addition to increasing development, this capital injection will position us to grow our asset base through accretive bolt-on acquisitions and trades,” Ott added.

    About Zavanna, LLC

    Zavanna is a Denver-based independent exploration and production company with assets in the Williston Basin. For more information, please visit www.zavenergy.com.

    About Carnelian Energy Capital Management, L.P.

    Carnelian Energy Capital is an energy investment firm based in Houston, Texas. With approximately $4 billion of cumulative capital commitments, Carnelian is dedicated to bringing its strategic expertise and nimble approach to partnerships with leading businesses and best-in-class management teams in the North American energy sector. For more information, please contact Carnelian at info@carnelianec.com or visit www.carnelianenergy.com.

    The MIL Network –

    September 29, 2024

  • MIL-OSI: Lotus Deploys Ambarella’s Oculii™ AI 4D Imaging Radar Technology in L2+ Semi-Autonomous Systems for Eletre SUV and Emeya Hyper-GT Electric Vehicles

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., Sept. 24, 2024 (GLOBE NEWSWIRE) — Ambarella, Inc. (NASDAQ: AMBA), an edge AI semiconductor company, today announced in advance of AutoSens Europe that its Oculii™ AI 4D imaging radar technology is deployed worldwide in the 2023 and 2024 Lotus Eletre electric hyper-SUV as well as the 2024 Lotus Emeya fully electric hyper-GT from Lotus Technology. The vehicles’ L2+ semi-autonomous systems that have benefited from this groundbreaking radar technology include highway and urban navigation on autopilot (NOA) and automatic emergency braking (AEB), where the ultra-long detection range of over 300 meters provides more time to safely react to vehicles and other objects while traveling at highway and racetrack speeds. These systems were developed by Lotus Robotics, a wholly owned subsidiary of Lotus, as part of its autonomous driving platform.

    Ambarella’s Oculii radar technology is providing ultra-fine angular resolution of one degree in both vehicles, using only six transmit and eight receive antennas on each of the vehicles’ two radar modules—more than double the resolution of the nearest 4D imaging radar competitor using the same number of antennas. This high angular resolution is important for clearly distinguishing, identifying and locating objects and people, both for nearby detection in crowded urban environments, as well as from a far distance when travelling at highway and racetrack speeds, to ensure timely and accurate avoidance and braking by the vehicles’ L2+ systems.

    This high resolution, in combination with a low antenna count, also provides higher value, while significantly reducing radar system power consumption and complexity; enabling the radar modules to be fitted into the desired locations on the vehicles. This combination can only be achieved using Ambarella’s Oculii AI radar algorithms, because of their unique ability to adapt radar waveforms to the environment. In fact, other 4D imaging radars require double the number of antennas to achieve the same level of performance, and in some cases, even more; leading to at least double the power consumption.

    “The performance that Lotus has achieved using our Oculii 4D imaging radar technology provides evidence for the real-world benefits of our AI innovations that adapt radar waves to the surrounding environment,” said Fermi Wang, president and CEO of Ambarella. “Building on their current models’ significant achievements with edge-processed AI 4D imaging radar, Lotus is evaluating Ambarella’s centralized radar processing architecture to realize even greater ADAS and autonomous performance.”

    By centrally processing raw 4D imaging radar data and fusing it at a deep level with the vehicle’s other sensor information, Ambarella’s AI software-defined architecture is capable of detecting objects over 500 meters away, while providing the ability to shift processing power among sensors and adapt to real-time driving conditions. This architecture also enables even higher angular resolution of 0.5 degrees, and an ultra-dense point cloud with tens of thousands of detection points per frame. Additionally, because Ambarella’s Oculii AI radar algorithms uniquely adapt radar waveforms to the environment, an order-of-magnitude fewer antennas is still utilized for centralized processing, maintaining reduced data bandwidth and power consumption compared to competing 4D imaging radar solutions.

    Test drives demonstrating Ambarella’s centralized radar processing architecture will be available during AutoSens Europe, taking place October 8-10th in Barcelona. Please contact your Ambarella representative to schedule a ride.

    For more information about Oculii AI radar technology, please contact your Ambarella representative or visit https://www.ambarella.com/products/automotive-oculii/.

    About Ambarella
    Ambarella’s products are used in a wide variety of human vision and edge AI applications, including video security, advanced driver assistance systems (ADAS), electronic mirror, drive recorder, driver/cabin monitoring, autonomous driving and robotics applications. Ambarella’s low-power systems-on-chip (SoCs) offer high-resolution video compression, advanced image and radar processing, and powerful deep neural network processing to enable intelligent perception, fusion and planning. For more information, please visit www.ambarella.com.

    Ambarella Contacts

    All brand names, product names, or trademarks belong to their respective holders. Ambarella reserves the right to alter product and service offerings, specifications, and pricing at any time without notice. © 2024 Ambarella. All rights reserved.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a9581fe9-3609-42e9-8b68-de3db3fceeda 

    The MIL Network –

    September 29, 2024

  • MIL-OSI United Kingdom: Global Partnership for Action on Gender-Based Online Harassment and Abuse calls for urgent action on countering gendered disinformation

    Source: United Kingdom – Executive Government & Departments

    The governments of Australia, Chile, Denmark, France, Iceland, the Republic of Korea, Spain, Sweden, New Zealand, the UK and the USA gave this joint statement.

    Joint statement from the governments of Australia, Chile, Denmark, France, Iceland, the Republic of Korea, Spain, Sweden, New Zealand, the United Kingdom and the United States of America:

    The undersigned country members of the Global Partnership for Action on Gender-Based Online Harassment and Abuse (Global Partnership) call attention to the urgent need to counter the spread of gendered disinformation and address all forms of technology-facilitated gender-based violence (TFGBV) against women in political and public life.  

    Gendered disinformation is a threat to societies defending peaceful, democratic values. False or misleading gender and sex-based narratives are being used in campaigns by malign actors to deter and discredit the participation of women, girls and LGBTQI+ persons in political and public life. This not only causes deep harm to the individuals targeted, but also threatens electoral integrity, access to information and the exercise of freedom of expression. At the same time, new and emerging technologies are being used to enable harmful, violent rhetoric and attacks against women, girls and LGBTQI+ public figures across borders at a scale and speed previously unseen.

    In our 2023 Road Map, the Global Partnership committed to promoting the meaningful participation in public life for women and girls, in all their diversity, by countering TFGBV and gendered disinformation. 

    We welcome the work being done to shine a light on how and why gendered disinformation is conceived, who it targets and how it is spread. Last year, in a groundbreaking study, Canada, the European External Action Service, Germany, Slovakia, the United Kingdom, and the United States jointly assessed the tactics used by foreign state and non-state actors to sow gendered and other identity-based disinformation across the world.

    In March 2024 the Global Partnership and members of its Advisory Group co-hosted a multi-stakeholder conference convened by the National Democratic Institute on possible responses (PDF, 2.1 MB) to countering the spread of gendered disinformation in the context of electoral processes. Stakeholders affirmed the need for a comprehensive response to disrupt the spread of gendered disinformation and to support victims and survivors.

    The world is at a critical moment for upholding democracy. More than 100 countries have held, or are soon to be holding elections, many of them taking place under democratically challenging circumstances. The active participation of all people, including women, girls and LGBTQI+ persons, is essential for secure, healthy and prosperous democracies.   

    We call upon states to join us in recognising and taking action to counter the threat of gendered disinformation to democracies globally. We urge technology and other private companies to take appropriate action to respond to this threat, including a commitment to a Safety-by-Design approach to the development and deployment of platforms and technologies. We ask states and all stakeholders to defend and protect the ability of women, girls and LGBTQI+ persons to participate in public life freely, safely and without fear.

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    Updates to this page

    Published 24 September 2024

    MIL OSI United Kingdom –

    September 29, 2024

  • MIL-OSI Russia: Rosneft software suites recognized as the best digital solutions in the oil and gas industry

    MIL OSI Translation. Region: Russian Federation –

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

    The software packages RN-GEOSIM and GIS-RN became winners of the XV competition “Best digital solutions for the oil and gas industry” in the nomination “Best internal corporate development”. The award ceremony took place in Moscow as part of the X Federal Forum on IT and digital technologies of the oil and gas industry of Russia Smart Oil

    Rosneft is the first company in Russia to successfully create science-intensive software covering all key processes of hydrocarbon exploration and production. The Company’s line of science-intensive software includes 24 products for key processes of oil and gas production, 10 of which are available for purchase.

    “RN-GEOSIM” was developed by the Ufa scientific institute of “Rosneft”. Specialists use the software package to build geological models and analyze hydrocarbon deposits, which increases the efficiency of their exploration and development.

    The software package provides a full range of tools, such as data management, interactive visualization, well section correlation, structural modeling taking into account tectonic faults, 3D geological modeling, reserve calculation, and generation of reporting graphics.

    The Company’s specialists are constantly improving the digital product, supplementing it with innovative modeling methods for more accurate construction of the field model. Test licenses for the software can be ordered on the website https://rn.digital/rngeosim/.

    The GIS-RN system is a joint development of the Rosneft Research Institute in Tomsk and Sibintek. This is the first corporate geographic information system (GIS) that is built on import-substituting technologies and solves current production problems in the oil sector of the fuel and energy complex.

    The multifunctional digital service consolidates arrays of geospatial information from users and is used at all stages of capital construction and operation of oil and gas field facilities.

    By 2025, the capabilities of GIS-RN will be supplemented by a module based on a neural network model for automated interpretation of aerospace images obtained during engineering surveys and environmental monitoring. Artificial intelligence trained on a profile sample will be able to recognize terrain objects – rivers, lakes, vegetation and even illegal logging – dozens of times faster than humans.

    Rosneft has been consistently developing and commercializing domestic software for oil and gas production for over 20 years. This strategic decision was dictated by the need to ensure the technological independence of the country’s oil and gas industry, taking into account the specifics of the reserve structure and modern approaches to oil and gas production.

    Reference:

    The competition “Best Digital Solutions for the Oil and Gas Industry” has been held since 2009. An independent jury determines the most significant innovative projects in the IT field and industrial automation.

    Department of Information and Advertising of PJSC NK Rosneft September 24, 2024

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

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

    http://vvv.rosneft.ru/press/nevs/item/220826/

    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 Russia: Consortium led by GUU to create agricultural analogue of State Services

    MIL OSI Translation. Region: Russian Federation –

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

    The State University of Management is developing a digital village – a high-tech system for managing agricultural enterprises. The project is being implemented jointly with the Omsk Agrarian Scientific Center (Omsk ASC) and the Udmurt State University (UdSU).

    The solution being created will allow even non-professionals to manage agricultural processes. The result will resemble the most modern enterprises, where one person can manage the entire workshop, and all mechanical work is done by robots. A similar model will be implemented in the field.

    “In the conditions of record low unemployment, we are not making a system that excludes people from the process. It helps non-professionals get started. The platform with a management decision support system offers the user a choice: if you go to the right, you will reap the harvest, if you go to the left, you will lose your horse. In the most literal sense of the word,” said Denis Serdechny, associate professor of the Department of Innovation Management at the State University of Management, head of the Laboratory of Convergent Expertise and Assessment of Technology Maturity, and candidate of technical sciences.

    A technological stack will be assembled at the request of state or private farms, which in addition to unmanned combines, seeders, drones, automatic irrigation systems and other devices will include products of modern agricultural technologies. The management system takes into account the possibility of integrating several farms to create a corporate effect. Reporting will be generated and sent to the Ministry of Agriculture automatically, thus creating a database of objective data and not burdening farmers with unnecessary work. The digital village will operate based on the principles of precision farming, when, for example, drones scan apples on trees, assess their condition and collect only ripe fruits, leaving the rest to ripen. This will significantly increase the efficiency and productivity of each individual farm, and in the future, at the national level, it will potentially give a significant multiplier effect.

    However, the task set by the SUM scientists is much larger. The digital village is the first level. The global idea is to create a huge digital platform for the entire agriculture of the country.

    “We are developing a concept for such a platform, where all participants in agricultural processes will find their place. In essence, such agricultural State Services,” says Denis Serdechny. “The user goes there, chooses his role: farmer, investor, producer, monitor on the part of the state, who will be able to evaluate the efficiency of spending budget funds. The farmer controls the work processes through the platform. And the investor can see in which region what crop is needed, what level of investment is required for this, what equipment is needed, in what quantity, what seeds. That is, it is also an intelligent decision support system, akin to a computer game in the genre of economic strategy – the user chooses the necessary parameters and his agricultural business is assembled on a turnkey basis. To do this, you do not have to be an expert in the field of agriculture.”

    The system is not being built from scratch; the necessary competencies are acquired from specialists who will train the system’s artificial intelligence. The platform will be loaded with existing databases on meteorological observations, aerial reconnaissance, soil science, and other necessary information. The system will also offer, for example, leasing companies, so that the investor does not necessarily have to purchase equipment. Service providers will also be able to use the system to track the operation of their fleet.

    A grant from the Ministry of Science and Higher Education of the Russian Federation for the implementation of a major scientific project “Ensuring food security of the country based on the creation of software and hardware complexes and intelligent platform digital solutions in the field of development of agro-industrial technologies of the full life cycle” was won by the State University of Management in the spring of 2024. This project is designed until 2026 and is currently in the active stage of development.

    A group of almost three dozen specialists from the State University of Management is developing an economic model of a new generation agricultural enterprise and a complex of its technological support. The SUM develops management, economic and digital models.

    To create digital twins of agricultural enterprises and subsequent processing of data from the fields, artificial intelligence tools and supercomputer power will be used. The equipment has already been purchased and is located on the territory of the State University of Management.

    Udmurt State University will provide technologies for recycling and closing the production cycle of agricultural enterprises. Waste from factories and plants, as well as expired products from stores, will be returned to the fields as fertilizers, rather than being disposed of, which will have a positive effect on the environment and will allow saving some budget funds.

    The Omsk AMC will become a test site for testing this technology. It is engaged in the entire cycle of work: field preparation, sowing, monitoring, harvesting. Including tracking weather changes, for which it recently purchased a weather station. Several special areas have already been allocated there for the digital village project.

    The system will be launched in test mode this year. The project is designed to last until 2026, but Denis Serdechny believes that this is only the first step towards implementing a federal-scale project. Interaction with global market players has already begun. Some of the largest Russian banks are interested in the results of the project, ready to provide their data centers for data processing, buy and distribute the finished digital product.

    Subscribe to the TG channel “Our GUU” Date of publication: 09.24.2024

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

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

    Consortium led by GUU to create agricultural analogue of State Services

    [embedded content]

    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 Europe: Sweden’s and Finland’s Governments held historic meeting in Stockholm

    Source: Government of Sweden

    Sweden’s and Finland’s Governments held historic meeting in Stockholm – Government.se

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    Article from Prime Minister’s Office

    Published 24 September 2024

    On 16 September, Sweden’s Government received Finland’s Government for a joint meeting. They adopted a declaration on enhanced cooperation between the countries, and the countries’ ministers took part in almost 20 visits and activities around Stockholm.

    The joint meeting was the second ever for Sweden and Finland, and the first for the two countries on Swedish soil. It lasted two hours and resulted in the signing of a joint declaration on enhanced cooperation between the countries.

    Prime Minister Ulf Kristersson – who described Finland as Sweden’s closest partner ahead of the meeting – held a joint press conference at Rosenbad together with Finland’s Prime Minister Petteri Orpo to discuss the declaration and enhanced cooperation.

    The declaration includes the efforts for a secure, green and free Nordic region, the importance of continued strong support to Ukraine, cooperation to strengthen competitiveness at national and EU levels and enhanced cooperation on law enforcement. The ambition of attracting highly qualified international workers, enhanced cooperation in the areas of research, development and innovation, joint efforts to promote children’s and young people’s health and continued cooperation in the areas of culture and international tourism are also included.

    The Swedish and Finnish ministers took part in a large number of visits and activities around Stockholm in the afternoon. These included visits to a higher vocational education institution, a fire station, the Baltic Sea Science Center at Skansen, Värtaverket’s thermal power station, the ports of Stockholm, a family centre and school in Rinkeby, the Swedish Social Insurance Agency headquarters and the Royal Swedish Academy of Sciences.

    Mr Kristersson, Mr Orpo, Sweden’s Minister for Energy, Business and Industry Ebba Busch and Finland’s Minister of Economic Affairs Wille Rydman also took part in a business seminar held by the Confederation of Swedish Enterprise and the Confederation of Finnish Industries at Storgatan to discuss how to jointly enhance Sweden’s, Finland’s and the EU’s competitiveness.

    The day concluded with a mingle in the Sager House and a dinner and art tour at Sven-Harrys konstmuseum.

    MIL OSI Europe News –

    September 29, 2024

  • MIL-OSI Europe: Forecast for public finances: surpluses for cantons, uncertainty for Confederation and social security funds

    Source: Switzerland – Department of Finance

    Federal Finance Administration

    Berne, 24.09.2024 – The general government’s financial development is likely to vary greatly depending on the level of government. This is the picture painted by the Federal Finance Administration’s new forecast, which goes up to 2028. While the social security funds will probably generate surpluses over the entire forecast period and the cantons from 2025 onward, the Confederation and the municipalities are expected to run structural deficits over the entire period. There is some uncertainty surrounding this development. The federal relief measures have not yet been factored into the forecasts.

    This whole press release is available as a document in pdf format.

    Address for enquiries

    Michael Girod, Communications
    Federal Finance Administration
    Tel. +41 58 465 41 41, kommunikation@efv.admin.ch

    Publisher

    Federal Finance Administration
    http://www.efv.admin.ch

    MIL OSI Europe News –

    September 29, 2024

  • MIL-OSI Europe: Sweden launches new multi-year support to Global Alliance for Trade Facilitation

    Source: Government of Sweden

    Sweden launches new multi-year support to Global Alliance for Trade Facilitation – Government.se

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    Press release from Ministry for Foreign Affairs

    Published 24 September 2024

    In 2024–2026, Sweden will provide SEK 30 million to the Global Alliance for Trade Facilitation. Together with governments and businesses, the Alliance promotes economic development and poverty reduction by making it easier for developing countries to participate in world trade.

    In 2024–2026, Sweden will provide SEK 30 million to the Global Alliance for Trade Facilitation. Together with governments and businesses, the Alliance promotes economic development and poverty reduction by making it easier for developing countries to participate in world trade. 

    “The Alliance has shown that targeted measures promoting cooperation between governments and businesses have great potential to create economic growth through increased trade in developing countries. Creating synergies between development cooperation, promotion and trade policy is a key part of the Government’s reform agenda for Swedish development assistance,” says Minister for International Development Cooperation and Foreign Trade Benjamin Dousa.

    Businesses in developing countries often face a variety of challenges when they want to take part in the global economy. These may include complex customs procedures, inefficient border management and a dependence on paper certificates. Such trade barriers restrict developing countries’ ability to benefit from international trade and thereby reduce poverty. The Alliance works in close cooperation with governments and businesses in developing countries to identify practical projects where state actors and companies can work together to implement reforms and new ways of working that simplify trade. 

    When implementing projects, the Alliance works closely with both local businesses and multinational companies. The Alliance is currently carrying out around 20 projects around the world, primarily in the least developed countries.

    This support is in line with the Government’s overall ambition to create conditions for developing countries and for people to move from poverty to prosperity through trade and economic development.

    Sida will allocate the support, which comprises SEK 10 million annually over three years. It will be financed through the Strategy for Sweden’s global development cooperation in sustainable economic development 2022–2026.

    About the Global Alliance for Trade Facilitation

    The Alliance was founded in 2015, when a number of donor countries saw the importance of involving the business sector in implementation of the World Trade Organization (WTO) Trade Facilitation Agreement. The Alliance is led by the Center for International Private Enterprise, the International Chamber of Commerce and the World Economic Forum – in cooperation with Gesellschaft für Internationale Zusammenarbeit, a German international cooperation organisation.

    Press contact

    MIL OSI Europe News –

    September 29, 2024

  • MIL-OSI Asia-Pac: StartmeupHK Festival 2024 showcases Hong Kong’s thriving start-up ecosystem (with photos)

    Source: Hong Kong Government special administrative region

         The annual StartmeupHK Festival is set to return to Hong Kong from October 21 to 25, 2024, following its previous successes. Curated by Invest Hong Kong (InvestHK) and themed “A Future Unlimited”, this year’s Festival will delve into contemporary topics such as AI, web3, GameFi, responsible tech, healthtech, greentech, sustainability, and more. As Asia’s premier start-up event, the festival anticipates participation from over 12 000 start-ups, investors, and technology enthusiasts from around the world.

         Featuring five main events and a series of community events, what sets this year’s Festival apart is its inclusion of captivating activities in multiple locations across Hong Kong and beyond, with speakers ranging from global business leaders to some of the world’s most innovative entrepreneurs. The Festival will also host a lineup of interactive activities like conferences, debates, exhibitions, pitching competitions, and additional networking opportunities. The Startups team of InvestHK has been conducting roadshows across Asia, Europe, and the Middle East to promote the Festival and position Hong Kong as an ideal location for start-ups to thrive in Asia.

         The Director-General of Investment Promotion at InvestHK, Ms Alpha Lau, said, “I am thrilled to witness the triumphant return of this remarkable event, as it reaffirms Hong Kong’s leading position as a thriving hub for innovation and start-up success. Start-ups in Hong Kong enjoy a vibrant network of incubators and accelerators, a pool of experienced angels and venture capitalists, and a welcoming community of fellow entrepreneurs. This comprehensive ecosystem has fostered the growth of numerous unicorns and a rapidly expanding start-up landscape, covering diverse sectors such as fintech, retail tech, healthtech, and greentech.”
          
         She added, “The remarkable resilience and continued growth of Hong Kong’s start-up ecosystem are a testament to its attractiveness. Our 2023 Startup Survey revealed record-high figures, with 4 257 start-ups employing a total of 16 453 staff. This encouraging result can be attributed to favourable factors such as our simple tax system, low tax rate, accessibility to international and regional markets, accessibility to funding, business opportunities in Mainland China, and the free flow of information. Our strong entrepreneurial culture further reinforces Hong Kong’s position as a launchpad for start-ups seeking to access the Guangdong-Hong Kong-Macao Greater Bay Area and the broader Asian market.”
          
         The Head of Startups at InvestHK, Ms Jayne Chan, said, “This year’s StartmeupHK Festival is promised to be more impactful than ever, fostering stronger connections and collaborations among participants, enabling international investors and other key stakeholders to engage the city’s thriving start-up community. This year, we have curated the StartmeupHK Festival to explore the most influential and forward-thinking topics around innovation and technology, igniting the exchange of ideas and inspiring new initiatives that can unlock limitless possibilities for positive change.”
          
         She continued, “The Festival will include community events to enhance connections in the start-up ecosystem, such as a unique event where regional venture capital (VC) investors pitch to start-up founders, as well as fun activities such as a harbour run and Peak hike with members of the tech community. Additionally, the Start-ups team is conducting global roadshows in cities like London and Shanghai to showcase Hong Kong’s advantages, including access to talent, markets, and funding. These efforts will continue until the festival begins to promote Hong Kong and the Festival to a wider global audience.”
          
    Main events

         Day 1 (October 21) – As the opening event of the StartmeupHK Festival 2024, JUMPSTARTER Ignition Gala by Alibaba Entrepreneurs Fund will be held at the Asia Society Hong Kong Center. In addition to launching their JUMPSTARTER for One Earth global start-up competition to find companies committed to driving global positive change, the event will feature an AI theme with discussions on investments, trends and regional developments in this area.

         Day 2 (October 22) – Game On! 2024, hosted by MaGESpire, will celebrate the essence of gaming, art, music, and entertainment (GAME) industries at Soho House, Sheung Wan. If you are a hardcore gaming fan or art / music enthusiast or an entertainment aficionado keen to learn more about how new technologies are transforming this space, then you must join us!

         Day 3 (October 23) – LOUDER Connect, organised by LOUDER Global will be held at the Hong Kong Maritime Museum that will boasts a diverse network of global speakers, each brought together to collaborate and engage in meaningful conversations. The event will showcase a series of engaging Radical Debates, mentor-business matching, interactive workshops, and networking opportunities at the iconic Hong Kong Maritime Museum and Star Ferry.

         Day 4 (October 24) – Hosted by Brinc, the Asia Health Innovation Summit will be held at TOWER 535 in the vibrant district of Causeway Bay. This premier event will unite Asia’s health technology ecosystem, bringing together start-ups, professionals, investors and government to drive transformative innovation in healthcare. Key discussions include advancements in biotechnology, AI, MedTech, and wholistic well-being and more.

         Day 5 (October 25) – Organised by New World Development, 1.5°C Summit – The Defining Decade for Impact with Tech will be held at K11 Musea. This unique tech summit on climate change is dedicated to identifying and implementing the necessary actions to reduce emissions over the next decade. The event will convene leading experts, entrepreneurs, and stakeholders who are actively engaged in mitigating the effects of climate change. Participants will share their insights on how technology can revolutionise industries and foster a more sustainable future.

    Community events

         The StartmeupHK Festival 2024 will feature an engaging array of community events across Hong Kong, providing attendees with exceptional opportunities to discover innovative ideas and connect with a diverse network of people.

         October 20 – Led by Hong Kong’s experimental activity group, Rock & Run, join a group of like-minded individuals for the Victoria Peak Sunset Hike – a perfect way to end your day with stunning views!

         October 20 – With the support of Alibaba Entrepreneurs Fund, tap into the regional VC investors with rev Hong Kong, for insights into the propositions, and personalities, of your future potential backers at the Asia Society Hong Kong Center. Connect with top VCs, spanning Pre-Seed to Series B, as they pitch their funds in just five minutes, followed by your questions.

         October 21 and 24 – Start your day with an exclusive small-group breakfast designed for people leaders in a Head role across business and HR, to connect, collaborate, and inspire one another. People Leaders’ Breakfast Roundtable is a unique opportunity to exchange insights around strategies for leadership and people development for the talent landscape in Hong Kong, in a relaxed and closed-door setting. A limited 10-guest experience will be curated for each day.

         October 23 – In partnership with the Hong Kong British Chamber of Commerce and hosted by the Eaton Club, come check out the UK Tech Founders Showcase Event where leading tech founders from the UK will showcase their latest innovations and solutions. The evening features fireside chats with UK tech founders who will share their insights, providing a valuable opportunity to network with industry peers while enjoying drinks and light snacks.

         October 23 – To wrap up StartmeupHK Festival 2024, join Rock & Run for a Central Harbourfront Evening Run. It is going to be an amazing scenic run to see a different side of Hong Kong.

         October 24 – Join us for an evening of China PropTech Startup Expedition in partnership with UrbanLab and Hong Kong PropTech Association. This exclusive event will showcase Mainland China’s tech start-ups that have their sights set on global success through market development in Hong Kong and beyond.

    Road shows

         The Start-ups team has been going on road shows and will continue to promote Hong Kong and the Festival to a wider global audience.

         The London Startup Conference 2024 that was held on June 27 gathered start-up founders, investors, and industry experts for networking and workshops focused on business growth.

         Following this, IVS2024 KYOTO was held on July 5. Participants explored the intersection of Japan’s cultural heritage and modern technology, emphasising web2, web3, and AI advancements.

         On July 13, International Graduates & Returnees Entrepreneurship Sharing in Chengdu highlighted the entrepreneurial journeys of international students and returnees.

         The UrbanLab Global Expedition x Hong Kong 1.5°C Summit Briefing on August 16 witnessed discussions on the opportunities through Hong Kong, while the Georgian National Startup Competition on August 20 aimed to connect emerging market founders with investors.

         A series of Startup Nights in Beijing, Shenzhen, and Hangzhou throughout September also helped provide networking platforms for scaling start-ups in Asia.

         The Game On! 2024 – Dubai Edition event was held on September 13 to celebrate the gaming and entertainment industries, and The Latin Kaleidoscope event in Hong Kong on September 20 and 21 showcased Latin American culture and innovation.

         Last but not least, The Barcelona Startup Conference 2024 on October 1 will bring together local start-up leaders and investors for collaboration and growth opportunities.         

    MIL OSI Asia Pacific News –

    September 29, 2024

  • MIL-OSI Europe: Minister for Foreign Affairs Maria Malmer Stenergard and Minister for International Development Cooperation and Foreign Trade Benjamin Dousa met their Finnish counterparts at Swedish-Finnish government meeting

    Source: Government of Sweden

    Foreign ministers highlighted support to Ukraine 

    During the visit, Sweden’s Minister for Foreign Affairs Maria Malmer Stenergard and her Finnish counterpart Elina Valtonen took part in a panel discussion on Swedish-Finnish cooperation on support to Ukraine. 

    “Support to Ukraine is my top priority as Minister for Foreign Affairs, and it is particularly important that we discuss with Finland how best to continue supporting Ukraine,” Ms Malmer Stenergard said during the panel. Ms Valtonen also emphasised the value of Swedish-Finnish cooperation and stated that she was looking forward to ensuring even more in-depth joint efforts.

    The panel was moderated by Maud Holma von Heijne, Secretary-General of Folk och Försvar. The other participants were Torbjörn Becker, Director of the Stockholm Institute of Transition Economics, and Katarina Areskoug, former Head of the Representation of the European Commission in Sweden and Swedish representative in the Nordic-Baltic high-level group.

    Following the panel discussion, Elly Reinolds, co-founder of OperationAid, presented the organisation’s operations in Ukraine, providing medical care close to the front line and activities for children affected by the war. This year, Sweden has contributed SEK 5 million to its ActiveKids project, which aims to strengthen children and young people and offer them respite, as well as mitigating mental health issues.

    Minister for International Development Cooperation and Foreign Trade discussed support to scale-ups 

    In connection with the government meeting, a seminar was also held on support to Swedish and Finnish scale-ups, with a focus on financing and internationalisation. Minister for International Development Cooperation and Foreign Trade Benjamin Dousa and his Finnish counterpart Ville Tavio were the hosts. Along with businesses, investors and organisations, they discussed how Sweden and Finland can create the best conditions for scale-ups to grow.

    “It’s clear that there’s huge engagement among those represented here today. Together we can make a difference. Scale-ups are innovative and knowledge-intensive businesses that, given the right conditions, can have an impact on society and entire sectors. It was inspiring to listen to the solution-oriented discussions, which also resulted in a number of concrete proposals,” says Mr Dousa.

    The seminar was organised by the Ministry for Foreign Affairs in cooperation with Business Sweden and Swedish Incubators and Science Parks (SISP), and was held at Epicenter, a creative meeting place for growing companies.

    MIL OSI Europe News –

    September 29, 2024

  • MIL-OSI: Dimensional Fund Advisors Ltd. : Form 8.3 – TI FLUID SYSTEMS PLC – Ordinary Shares

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

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

    1. KEY INFORMATION  
       
    (a) Full name of discloser: Dimensional Fund Advisors Ltd. in its capacity as investment advisor and on behalf its affiliates who are also investment advisors (”Dimensional”). Dimensional expressly disclaims beneficial ownership of the shares described in this form 8.3.  
    (b) Owner or controller of interests and short positions disclosed, if different from 1(a):
    The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		    
    (c) Name of offeror/offeree in relation to whose relevant securities this form relates:
    Use a separate form for each offeror/offeree    		 TI Fluid Systems PLC  
    (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:    
    (e) Date position held/dealing undertaken:
    For an opening position disclosure, state the latest practicable date prior to the disclosure    		 23 September 2024  
    (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
    If it is a cash offer or possible cash offer, state “N/A”    		 N/a  
       
    2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE  
       
    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.  
    (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)  
       
    Class of relevant security: 1p ordinary (GB00BYQB9V88)  
      Interests Short Positions  
      Number % Number %  
    (1) Relevant securities owned and/or controlled: 5,863,084 1.17 %      
    (2) Cash-settled derivatives:          
    (3) Stock-settled derivatives (including options) and agreements to purchase/sell:          
      Total 5,863,084* 1.17 %      
    * Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 18,853 shares that are included in the total above.  
       
    All interests and all short positions should be disclosed.

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

    		  
       
       
    (b) Rights to subscribe for new securities (including directors’ and other employee options)  
       
    Class of relevant security in relation to which subscription right exists:    
    Details, including nature of the rights concerned and relevant percentages:    
       
    3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE  
       
    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

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

    		  
    (a) Purchases and sales  
       
    Class of relevant security Purchase/sale Number of securities Price per unit  
             
       
    (b) Cash-settled derivative transactions  
       
    Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit  
               
       
    (c) Stock-settled derivative transactions (including options)
     
    (i) Writing, selling, purchasing or varying
     
    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit
                   
       
    (ii) Exercise  
       
    Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit  
               
       
    (d) Other dealings (including subscribing for new securities)  
                 
    Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)  
             
       
    4. OTHER INFORMATION  
       
    (a) Indemnity and other dealing arrangements  
       
    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (b) Agreements, arrangements or understandings relating to options or derivatives  
       
    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i) the voting rights of any relevant securities under any option; or
    (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”    		  
    None  
       
    (c) Attachments  
       
    Is a Supplemental Form 8 (Open Positions) attached? NO  
       
    Date of disclosure 24 September 2024  
    Contact name Thomas Hone  
    Telephone number +44 20 3033 3419  
       

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

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

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

    The MIL Network –

    September 29, 2024

  • MIL-OSI Economics: Secretary-General of ASEAN addresses China-ASEAN Business Leaders Forum

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today delivered his opening remarks at the China-ASEAN Business Leaders Forum under the framework of the 21st China-ASEAN Business and Investment Summit (CABIS). In his remarks, Dr. Kao stressed the importance of the RCEP and ACFTA as key to advancing ASEAN and China economic competitiveness, offering real opportunities for businesses. These has simplified customs procedures and harmonizes trade rules, making every cross-border business transaction more cost-effective and helping businesses reach new customers and suppliers.

    Download the full opening remarks here.

    The post Secretary-General of ASEAN addresses China-ASEAN Business Leaders Forum appeared first on ASEAN Main Portal.

    MIL OSI Economics –

    September 29, 2024

  • MIL-OSI Economics: Samsung’s Biggest Festive Sale ‘Fab Grab Fest’ is back with Never-seen Before Deals & Offers on Smartphones, Digital Appliances, Smart Televisions, Monitors, Tablets & More

    Source: Samsung

     
    Samsung, India’s largest customer electronics brand, today announced its biggest festive sale ‘Fab Grab Fest’ starting 26th September, offering exciting deals and cashback on Galaxy smartphones, tablets, laptops, accessories, wearables, smart televisions, digital appliances and smart monitors. These never-before offers will be available on Samsung.com, Samsung Shop App and Samsung Exclusive Stores.
     
    Buy More Save More
    At heart of this festive sale will be Buy More Save More, where customers can avail an additional up to 5% discount when purchasing two or more products. This offer is only applicable on select smartphones, wearables, smart televisions and digital appliances while purchasing through Samsung.com or Samsung Shop App.
     
    As part of Buy More Save More, Consumers buying the Galaxy Z Fold6 can get Galaxy Buds FE at just ₹ 1249 in addition to all other applicable offers. Similarly, those buying the Galaxy Book4 can get a FHD Flat Monitor at just ₹ 1920. There are also a host of other products at no extra cost such as convection microwave when customer purchases the BESPOKE Family Hub Fridge & a Q-Symphony Soundbar when customers purchase the Neo QLED 8K Smart Television.
    Samsung’s commitment of delivering more value is what’s sets Fab Grab Fest apart. Beyond price discounts, bank cashback offers and exchange deals, ‘Buy More, Save More’ ensures that Samsung.com customers get a little extra for every purchase, whether it is smartphones, accessories, smart televisions or digital appliances.
     
    Fab Grab Fest will not only offer best prices but also unmatched value through Samsung’s trusted Direct-to Consumer channels. Alongside special deals, customers can be assured of the quality, authenticity, and product availability.
     
    During ‘Fab Grab Fest’, consumers can get up to 53% off on select models of the Galaxy Z series, Galaxy S series, and Galaxy A series smartphones. Select models of Galaxy Book4 series laptops will be available at a discount of up to 27% off, while specific models of Tab A9 and Tab S9 series, Buds3 Series, Galaxy Watch Series will have up to 74% off.
     
    The offers extend beyond smartphones with up to 43% off on Samsung Smart Televisions – Neo QLED 8K, Neo QLED, QLED, The Frame and  Crystal 4K UHD, The Freestyle projector. Additionally, customers purchasing select 55-inch and above models will be able to get their  hands on a free Samsung Smart Television or Soundbar. During this festive sale, Samsung will also extend a three- years Comprehensive Warranty for free on select 32″ and above Smart Televisions.
     
    Samsung’s monitors will be available at up to 67% off. Additionally, select smart and gaming monitors can fetch instant cart discount of up to ₹ 10000.
     
    The excitement doesn’t end here, Customers can get up to 39% off on a wide range of premium appliances such as Side by Side and French Door Refrigerators. They will also get a 20-year warranty on Digital Inverter Compressors. Front Load and Top Load washing machines of 8Kg and above capacity will have up to 28% off and 20 years warranty on Digital Inverter motor. There will also be an instant cart discount of up to ₹ 2000 on select 9Kg Fully Automatic Front Loading washing machines.
     
    Cashback on with ICICI, HDFC and SBI and other leading banks
     
    Consumers can enjoy up to 40% cashback (up to ₹ 15000) on select smartphones, tablets, wearables, and laptops when using debit and credit cards from ICICI, HDFC, and other leading banks during the Fab Grab Fest.
     
    Additionally, for purchases of select smart televisions and digital appliances customers can avail up to 22.5% cashback (up to ₹ 25000) when using debit or credit cards from ICICI, HDFC, SBI and other leading banks as part of the Fab Grab Fest offers.
    Fab Grab Fest Offers
    Products / Category
    Consumer Offer
    Highlight Models
    Smartphones
    Up to 53% off
    Galaxy Z Fold6, Galaxy Z Flip6, Galaxy S24 Ultra, Galaxy S24+, Galaxy S24, Galaxy S23 Ultra, Galaxy S23+, Galaxy S23, Galaxy S23 FE, Galaxy A55 5G, Galaxy A35 5G, Galaxy M35 5G, Galaxy M15 5G, Galaxy F55 5G
    Laptops
    Up to 27% off
    Galaxy Book4 Pro 360, Galaxy Book4 Pro, Galaxy Book4 360, Galaxy Book4
    Tablets, Accessories & Wearables
    Up to 74% off
    Galaxy Tab S10 Series, Galaxy Tab S9 Series, Galaxy Tab S9 FE+, Galaxy Tab S9 FE, Galaxy Tab A9+, Galaxy Tab A9, Galaxy Watch7 Series, Galaxy Watch Ultra, Galaxy Watch FE, Galaxy Buds3 Pro, Galaxy Buds3, Galaxy Buds FE, Galaxy Fit3
    TVs
    Up to 43% off
    Special Offer: Free Neo QLED 8K, Neo QLED, Crystal 4K UHD TVs and Soundbars*
    3 Years Comprehensive Warranty^
    Neo QLED 8K, QLED, The Frame, Crystal 4K UHD, The Freestyle
    *Select 55″ & above TVs
    ^Select 32″ and above TVs
    Refrigerators
    Up to 39% off
    20 Years warranty on Digital Inverter Compressor
    Get Instant Cart Discount of up to ₹ 5000**
    Starting EMI : ₹ 3990 /mo. for French Door Refrigerators & Side by Side RefrigeratorsSpecial Offer :  – Buy Side by Side or French Door Refrigerators and get one year extended warranty at ₹ 449~
    All Side by Side and French Door Refrigerators
    **Select Side by Side refrigerators
    ~ Select Side by Side & French Door refrigerators (RF87 / RF90)
    Washing Machines
    Up to 28% off
    20 years warranty on Digital Inverter motor
    Fully Automatic Front Loading: Starting EMI ₹ 1990
    Fully Automatic Top Loading: Starting EMI ₹ 990
    Get instant cart discount of up to ₹2000^^^
    All Front Load >= 8Kg | Top Load > =8Kg washing machines
    ^^^ Select 9Kg Fully Automatic Front Loading models
    Microwaves
    Up to 31% off
    10-year warranty on Ceramic Enamel Cavity
    Get Instant Cart Discount of up to ₹ 500~~
    All Microwaves
    ~~ Select 28L Convection microwave ovens
    Monitors
    Up to 67% off
    Get instant cart discount of up to ₹ 10000***
    All Monitors
    ***Select Smart and Gaming monitors
    Bank Cashback
    Up to 40% cashback with ICICI, HDFC,  and other leading bank debit and credit cards (Up to ₹ 15000) ##
    Up to 22.5% cashback with ICICI, HDFC, SBI and other leading bank cards (Up to ₹ 25000)^^
    ## Smartphones, tablets, wearables, and laptops.
    ^^ Select TVs & Digital Appliances
     

    MIL OSI Economics –

    September 29, 2024

  • MIL-OSI United Kingdom: Winchester City Council’s new skills programme aims to tackle the digital divide

    Source: City of Winchester

    Winchester City Council is to launch a new programme to improve the digital skills of the district’s residents and tackle the issue of digital exclusion.

    Currently 18% of UK adults lack the essential digital skills that are needed for the workplace (source: Lloyds Consumer Index 2023) and 22% of people in the UK do not have the essential digital skills needed for everyday life (source: NHS Digital).

    The Essential Digital Skills development programme, which launches on Monday 7 October 2024, aims to help Winchester district residents of all ages and circumstances overcome challenges they may be facing, build resilience, improve confidence and gain support in developing critical digital skills.

    The new digital skills project 

    This will include: helping older generations feel more connected to the digital age; improving all residents’ lives through enabling access to education, employment and volunteering opportunities; and supporting the move into higher quality jobs and further training opportunities within the district.

    The project is being delivered in partnership with Hampshire-based digital training specialists WorkAdvisor Ltd. They will offer tailored one-to-one sessions, workshops and will run Microsoft Office-accredited courses. Residents taking part will use refurbished laptops to build the confidence they need to better understand digital platforms.

    The Essential Digital Skills development programme has received £50,000 from the UK government through the UK Shared Prosperity Fund.

    Winchester City Council’s Cabinet Member for Business and Culture Councillor Lucille Thompson said:

    “Research tells us that the Winchester district suffers from the digital divide and digital poverty just as much as other parts of the country; 84% of respondents to the Economy Team’s A Digital Winchester District survey agreed that digital skills tutoring and sessions would be helpful.

    “The Essential Digital Skills development programme is a great initiative that tackles the root causes of digital exclusion and will help our residents to get online safely and securely to discover all that digital has to offer, from keeping in touch with friends and relatives to applying for a job.”

    Director of Workadvisor Ltd Philip Price said:

    “We will be in the community delivering this development programme until the end of January 2025. District residents will gain experience in the basics, for example, how to use a laptop, set up and use email as well as a range of useful everyday applications including managing health, shopping, banking and paying bills.

    “Residents will experience how to search and apply for jobs, as well as some fun things! There will be the opportunity for free progression courses and self-paced learning for all.”

    To find out more and register for a one-to-one or group workshop, or to refer a friend or relative:

    Visit    https://www.winchester.gov.uk/business/employment/get-into-work

    Email info@workadvisor.co.uk

    Call    02381 550223

    Last Updated: Tuesday 24 September 2024

    MIL OSI United Kingdom –

    September 29, 2024

  • MIL-OSI Video: How the EU is Supporting Ukraine’s Fight for Freedom

    Source: European Commission (video statements)

    From the first day of Russia’s full-scale invasion, the EU has stood by Ukraine, delivering unprecedented political, humanitarian, economic, and military support.

    This aid helps Ukraine pay wages, pensions, restore infrastructure, and keep public services running, including hospitals and schools.

    The EU is also training and equipping Ukraine’s armed forces, and has set up solidarity lanes to ensure Ukrainian crops reach countries in need, addressing the global food crisis caused by the war.

    Committed to Ukraine’s future the EU is providing €50 billion in grants and loans through the Ukraine Facility over the next four years. Tough sanctions have been imposed to hinder Russia’s war efforts, freezing over €210 billion in assets.

    The EU stands united and resolute with Ukraine.

    This video breaks down the help provided for Ukraine so far and reaffirms the unshakable support for Ukraine, for as long as it is necessary.

    If you want to learn more about how the EU is delivering for YOU. Then check out our “Keeping our promise to Europe” webpage: https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/story-von-der-leyen-commission_en

    #StandwithUkraine #EUDelivers #ukrainefacility
    Watch on the Audiovisual Portal of the European Commission: https://audiovisual.ec.europa.eu/en/video/I-260158

    Subscribe to our channel: https://bit.ly/2X56Ju6

    Follow us on:
    -X: https://twitter.com/EU_Commission
    -Instagram: https://www.instagram.com/europeancommission/
    -Facebook: https://www.facebook.com/EuropeanCommission
    -LinkedIn: https://www.linkedin.com/company/european-commission/
    -Medium: https://medium.com/@EuropeanCommission

    Check our website: http://ec.europa.eu/

    https://www.youtube.com/watch?v=wqX1lSHQniM

    MIL OSI Video –

    September 29, 2024

  • MIL-OSI China: US-proposed ban on Chinese software in vehicles prompts strong backlash

    Source: China State Council Information Office

    The U.S. Commerce Department on Monday proposed a ban on Chinese-developed software and hardware in connected and autonomous vehicles, provoking a strong backlash from economists and observers.

    According to the measure, “malicious access” to the Vehicle Connectivity System and the Automated Driving System could allow “adversaries” to access and collect the most sensitive data and remotely manipulate cars on American roads. Adversaries, in this context, are China and Russia.

    The Biden administration acknowledged that few Chinese or Russian vehicles are currently on U.S. roads but noted that it wanted to take “proactive” measures, highlighting national security concerns.

    “I think that the U.S. government may be projecting the kind of malware itself plans to install in some connected systems,” Jeffrey Sachs, an economics professor and director of the Center for Sustainable Development at Columbia University, told Xinhua. “There is absolutely no evidence that China is doing so.”

    Sachs also noted that another aim is protectionism, “to damage Chinese EV exports to the U.S. and Europe.”

    Gary Clyde Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics, told Xinhua that the proposed rule represents a giant step towards decoupling. “The United States is not yet at war with China, but it is well along the decoupling path,” he said.

    Hufbauer, a former official at the U.S. Treasury Department, noted that National Security Advisor Jake Sullivan previously promised that U.S. restrictions on direct commerce with China would be confined to limiting the flow of advanced technologies with “a small yard and a high fence”. “The small yard has since grown into a large pasture with no discernable fence,” said Hufbauer.

    Earlier bans on Chinese tech giant Huawei and current efforts to force TikTok either to be sold to a U.S. firm or face a ban follow the same logic.

    Hufbauer added that if the latest proposed rule charts the future path of U.S. import bans, with no consideration of the cost to the U.S. economy, then it is only a matter of time before de-risking becomes decoupling.

    The New York Times viewed combating real and perceived Chinese threats as one of the few issues that have won both Democratic and Republican support, though “many experts on China believe that the fear of Beijing has gone too far — and that it is also hurting American consumers.”

    U.S. automakers “risk falling behind” if they do not have access to the latest technology, said the American daily, depicting China as the world’s largest car market that dominates the production of electric car batteries.

    “Rather than banning China’s technology, the United States and China should take cooperative and diplomatic steps to ensure that neither party nor other countries behave in this manner,” said Sachs.

    MIL OSI China News –

    September 29, 2024

  • MIL-OSI USA News: Statement from President Joe  Biden on CHIPS and Science Act Final Award for Polar Semiconductor

    Source: The White House

    Semiconductors – those tiny chips smaller than the tip of your finger – power everything from smartphones to cars to satellites and weapons systems.  I signed the CHIPS and Science Act to revitalize American leadership in semiconductors, strengthen our supply chains, protect our national security, and advance American competitiveness. And over the last three and a half years, we have done just that, catalyzing over $400 billion in private sector investments in semiconductors and electronics that are creating over 115,000 construction and manufacturing jobs. This year alone, the United States is on pace to see more investment in electronics manufacturing construction than it did over the last 24 years combined.

    Today’s announcement that the Department of Commerce has finalized the first commercial CHIPS Incentives award with Polar Semiconductor marks the next phase of the implementation of the CHIPS and Science Act, and demonstrates how we continue to deliver on the Investing in American agenda. Polar’s new facility will also be completed under a Project Labor Agreement to support its construction workforce, creating good-quality union jobs in Bloomington, Minnesota. Today’s announcement is just one of the many ways our Investing in America agenda is reshoring U.S. manufacturing, investing in workers and communities across the country, and advancing America’s leadership in the technologies of tomorrow.

    ###

    MIL OSI USA News –

    September 29, 2024

  • MIL-OSI Asia-Pac: NDRC’s Department of Foreign Capital and Overseas Investment and HKMA jointly hold seminar on “Supporting Mainland enterprises’ cross-border financing in Hong Kong” (with photos)

    Source: Hong Kong Government special administrative region

    NDRC’s Department of Foreign Capital and Overseas Investment and HKMA jointly hold seminar on “Supporting Mainland enterprises’ cross-border financing in Hong Kong” (with photos)
    NDRC’s Department of Foreign Capital and Overseas Investment and HKMA jointly hold seminar on “Supporting Mainland enterprises’ cross-border financing in Hong Kong” (with photos)
    ******************************************************************************************

    The following is issued on behalf of the Hong Kong Monetary Authority:     The National Development and Reform Commission (NDRC)’s Department of Foreign Capital and Overseas Investment and the Hong Kong Monetary Authority (HKMA) jointly held a seminar in Hong Kong on “Supporting Mainland enterprises’ cross-border financing in Hong Kong” today (September 24). The Director-General of the NDRC’s Department of Foreign Capital and Overseas Investment, Mr Zheng Chiping, addressed the seminar in person. The NDRC delegation delivered a policy briefing on supporting the issuance of offshore debt by Mainland enterprises.     Hong Kong has been a premier offshore financing platform for Mainland enterprises. In October 2023, the NDRC and the HKMA signed a Memorandum of Understanding (MoU) to further support cross-border financing by Mainland enterprises in Hong Kong and to promote the diversified development of the offshore bond market. Today’s seminar is the first promotional event jointly organised pursuant to the MoU, with a view to enhancing the understanding of the relevant policies and requirements regarding offshore debt among market participants, and encouraging them to leverage Hong Kong’s platform for cross-border financing.     The seminar comprised a policy briefing session and a roundtable discussion session, with a total of about 200 participants from Mainland enterprises, industry associations, financial institutions and law firms, etc, in attendance. Mr Zheng and the Chief Executive of the HKMA, Mr Eddie Yue, addressed the policy briefing session. The NDRC delegation delivered a policy briefing on Mainland firms’ borrowing of medium to long-term foreign debt. In the closed-door roundtable discussion session, the NDRC delegation had an in-depth exchange with industry representatives from around 30 organisations on the latest developments and policies in connection with the offshore debt market.     Mr Zheng said, “As an important international financial centre and the world’s leading offshore Renminbi centre, Hong Kong serves not only as the nexus connecting the Mainland and international capital markets, but also the premier platform for the Mainland’s ‘attracting foreign investment’ and ‘going global’ strategy. The NDRC encourages more Mainland enterprises to leverage Hong Kong’s international financial platform to conduct cross-border financing activities, broaden financing channels, enrich financing tools, and optimise financing structures. We welcome continued support and facilitation provided by Hong Kong authorities for Mainland enterprises’ debt issuance in Hong Kong, with a view to collectively fostering a more open, transparent and efficient financing environment. We also welcome the active participation by the global investors and various market institutions to realise mutual benefits and join hands in development. The NDRC will also continue to enhance supervision and services, and create synergy through supervisory co-operation with the HKMA, in concertedly supporting and promoting the steady, long-term development of the Hong Kong’s bond market.”     Mr Yue said, “The HKMA would like to thank the NDRC for the significance it attaches to Hong Kong’s role as a cross-border financing hub for Mainland enterprises, and to Mr Zheng for leading the NDRC delegation to Hong Kong for this policy briefing to the industry. The seminar was well received by the industry, and has deepened the understanding of the relevant Central Government policies, which is conducive to better supporting Mainland enterprises’ cross-border financing activities in Hong Kong and contributing to the internationalisation of Renminbi and the region’s green and low-carbon transition. Building on this successful foundation, we look forward to deepening our sustained co-operation with the NDRC and fostering the contribution of Hong Kong’s financial services to the Mainland’s high-quality development of the real economy and high-standard opening up.”

     
    Ends/Tuesday, September 24, 2024Issued at HKT 16:51

    NNNN

    MIL OSI Asia Pacific News –

    September 29, 2024

  • MIL-OSI China: China to create new monetary policy tools to support stock market

    Source: China State Council Information Office

    China’s central bank will create new monetary policy tools to support the stable development of the stock market, the central bank governor said Tuesday.

    The central bank will establish a swap program for securities, funds and insurance companies to obtain liquidity from the central bank through asset collateralization, Pan Gongsheng, governor of the People’s Bank of China, told a press conference.

    The program will significantly enhance the companies’ ability to acquire funds and increase their stock holdings, Pan said.

    According to Pan, eligible companies could use their assets including bonds, stock ETFs and holdings in constituents of the CSI 300 Index as collateral in exchange for highly liquid assets such as treasury bonds and central bank bills. Funds obtained through this tool can only be used for investment in the stock market.

    The initial scale of the swap program will be set at 500 billion yuan (about 70 billion U.S. dollars), with possible expansions in the future, Pan said.

    The central bank will also create a special re-lending facility to guide banks to provide loans to listed companies and their major shareholders for buybacks and increasing shareholdings, Pan said.

    The initial re-lending will be 300 billion yuan at an interest rate of 1.75 percent for commercial banks, which could lend to their clients at an interest rate of 2.25 percent. Depending on the market conditions, the operation may be repeated in the future, Pan said.

    The facility can be applied to various types of companies regardless of their ownership, Pan added.

    MIL OSI China News –

    September 29, 2024

  • MIL-OSI Asia-Pac: Speech by CE at BritCham Hong Kong Summit 2024 (English only)

    Source: Hong Kong Government special administrative region

    Speech by CE at BritCham Hong Kong Summit 2024 (English only)
    Speech by CE at BritCham Hong Kong Summit 2024 (English only)
    *************************************************************

         Following is the speech by the Chief Executive, Mr John Lee, at Britcham Hong Kong Summit 2024 today (September 24): Mr Jeremy Sheldon (Chair of the British Chamber of Commerce in Hong Kong), Mr Paul McComb (Executive Director of the British Chamber of Commerce in Hong Kong), Deputy Consul-General Sarah Robinson (Deputy Consul-General of the United Kingdom to Hong Kong), distinguished guests, ladies and gentlemen,      Good afternoon to you all. I am delighted to be here, today, for the fourth annual BritCham Hong Kong Summit. And what a day it’s been, with Commissioner Cui Jianchun opening the Summit and five smartly considered panel discussions, each centred on Hong Kong opportunity – long-term, far-reaching opportunities powered by innovation, sustainability, and more.           Panel One’s theme certainly caught my attention, with its focus, and I quote, “Business Leaders Perspective on Hong Kong as a Global Powerhouse City”.           Yes, ladies and gentlemen, Hong Kong indeed endeavours to become a global powerhouse city. With its energy, entrepreneurship and connectivity.           More than an ambition, it is a goal and collective commitment that the Hong Kong SAR Government is working, tirelessly, to realise.           With welcome assistance, let me add, from organisations such as the British Chamber of Commerce in Hong Kong, and its membership of some 1 000 professionals from about 350 companies. Each and every one of you as committed as us in building a flourishing future for all, right here in Hong Kong.           At last count, over 640 UK companies call Hong Kong home. And it’s reassuring to tell you that Hong Kong and UK companies like to do business together. Last year, our bilateral merchandise trade was up a whopping 19 per cent, year on year, and reached nearly HK$130 billion.           Yes, Hong Kong has all along been a key export market for the UK. In the decade between 2014 and 2023, the value of UK exports to Hong Kong grew nearly 100 per cent, to GBP15.7 billion.           Our trade in services are just as vibrant. In 2022, the UK was Hong Kong’s third-largest services trading partner.           And, of course, we like to invest in each other’s economies and companies. In 2021, Hong Kong was the sixth-most popular destination for foreign direct investment from the UK, with a total value of GBP77.6 billion. That accounted for 4.4 per cent of the UK’s total outward FDI stock. Hong Kong, in 2021, was the second-largest Asian investor in the UK, with FDI stock worth GBP16.3 billion.           Hong Kong’s selling card, our great and enduring strength over the years, is our openness to trade and business, our eagerness to connect – with the UK and a world of companies and economies.           “One country, two systems” makes it happen. This unique principle allows Hong Kong to enjoy the wealth of opportunities our country presents, while taking full advantage of our dominant role as the multilevel bridge between the Mainland and the rest of the world.           It ensures that Hong Kong’s robust rule of law, as well as our continuous practice of the common law system, one that resembles that of the UK and many major global financial centres. It also helps to maintain our simple and low tax regime, world-class infrastructure, and international connectivity.           That’s probably why in the latest World Competitiveness Yearbook, published by the International Institute for Management Development, Hong Kong ranked fifth globally. We came first in the world in “international trade” and “business legislation”, and was also among the global top five in “tax policy”, “international investment”, “basic infrastructure”, “finance” and “education”.           As a global powerhouse city, Hong Kong will never stop expanding its business and trade networks. These include our well-established partners among developed economies, as well as new and budding ones.           The 10 Member States of ASEAN – the Association of Southeast Asian Nations – is one of our pre-eminent partners. For more than a decade now, ASEAN has been our second-largest merchandise trade entity. Investment between us is also buoyant. Indeed, Hong Kong is ASEAN’s fourth-largest source of inward direct investment.           It helps, of course, that the free trade agreement and investment agreement between us has been in full force now for three years.           It helps, too, that I have been to seven ASEAN countries since I assumed office just over two years ago. My latest visit, in July, to Laos, Cambodia and Vietnam, resulted in 55 MOUs and related agreements. They will expand our co-operation in trade and investment, as well as finance, technology, logistics and a good many other areas, too.           Our ties with the Middle East have also burgeoned following my visit to the region in February last year.           This past week, Saudi Arabia gave its approval for the first exchange-traded fund, or ETF, investing in Hong Kong equities to be listed on its stock exchange. That’s an encouraging development for investors, too.           Last November, HKEX, and investors, welcomed the listing of Asia-Pacific’s first ETF to track Saudi Arabian equities, allowing local and global investors to invest in the Saudi stock market through Hong Kong. This mutually rewarding co-operation is a boost for Hong Kong’s ETF market and the global connectivity of our financial services sector.           We look, too, to other cities in the Guangdong-Hong Kong-Macao Greater Bay Area for connectivity, for long-term opportunity powered by innovation and technology. I’m sure you’ve heard as much at the panel discussion just now.           The Greater Bay Area, as you will be well aware, brings together Hong Kong, Macao and nine cities in Guangdong province. It counts a population of over 86 million people. Its GDP amounted to nearly US$2 trillion last year, rivalling the world’s 10th largest economy.           More than an enormous consumer market, the Greater Bay Area is fast becoming an innovation and technology hub. This year’s Global Innovation Index ranked the Shenzhen-Hong Kong-Guangzhou cluster second in the world, for the fifth year in a row.           That only underlines the huge potential for I&T development in the Greater Bay Area – and in Hong Kong, China’s most international city as you all know. Hong Kong is the only Asian city that has as many as five universities in the world’s top 100, and boast world-class capabilities in research, a robust intellectual property rights protection system, and an established international business environment. Hong Kong has what it takes to play a pivotal role in the region’s rise as an I&T hub.           The Hong Kong-Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop, situated right next to our boundary with Shenzhen, is central to that future. This Hong Kong Park, of 87 hectares in area, together with a 300-hectare Shenzhen Park, will form the Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone. It straddles our geographical boundary with the Mainland and will propel the region’s I&T growth.           The Hong Kong Park’s first three buildings, I’m pleased to say, are expected to complete, gradually, from the end of this year.           The Park’s first phase, a total floor area of up to one million square metres, will focus on a number of I&T areas, including life and health technology, AI, advanced manufacturing and industry, academic and research sectors.           That, of course, will demand technology specialists. A continuing flow of strategic talent of every kind, at every level.           We’re working on that, too. And, according to the International Institute for M
    anagement Development and its 2024 World Talent Ranking, we’re well on our way.           In the latest World Talent Ranking, published just last week, Hong Kong’s ranking rose to ninth, overall – up considerably from 16th last year. That’s also the first time we were back to the ranking’s top 10 since 2016.           And I’m delighted to say that Hong Kong topped the ranking in the percentage of graduates in sciences.           We’re making notable progress, too, in enticing talent to turn to Hong Kong for their future.           As at the end of last month, we have received more than 360 000 applications under our various enhanced talent admission programmes, launched in the end of 2022. Nearly 230 000 applications have been approved, and more than 150 000 professionals have already arrived in Hong Kong, many with their families.           The schemes are popular among our friends from the UK, I’m glad to add. Some 4 100 of these approved applicants are UK nationals. That’s a blessing. For our new Top Talent Pass Scheme, which targets graduates from the world’s best universities and high-income earners, about 7 per cent of the admitted top graduates are from British universities.           And our Working Holiday Scheme with the UK, which celebrates its 10th anniversary this year, has also strengthened our youth ties. At last count, nearly 11 000 young people from Hong Kong and the UK have been granted visas to work, while holidaying, in each other’s places over the past decade.           More than our people-to-people bond, the young and talented professionals joining Hong Kong will boost our labour force. Good news for the economy. For business. For you as well.           Getting, and keeping, talent is, of course, a work in progress, as is the Hong Kong economy. I’ll have more to say on that, and much more, next month, in my annual Policy Address.           And my thanks to BritCham for its Policy Address submission, which I received in early August. I am grateful for your considered thoughts on how Hong Kong can boost its standing as an international trade and finance centre, how we can build our technology and innovation capabilities, take our place as an international talent hub and a good deal more.           I look forward to your continuing co-operation – the excellent work your Chamber is doing for our economy and our community.           On our community, I understand a cheering section from the Chamber will be in London for the upcoming Hong Kong Dinner. This annual gathering is one of the many deep-rooted traditions that have long defined, and distinguished, the abiding ties between our two economies and peoples.           Ladies and gentlemen, I wish you the best of business, health and happiness in the coming year. And, for those of you flying off to London this week, I wish you a memorable Hong Kong Dinner, brimful of the good stories of Hong Kong, a global powerhouse city.           Thank you.

     
    Ends/Tuesday, September 24, 2024Issued at HKT 17:36

    NNNN

    MIL OSI Asia Pacific News –

    September 29, 2024

  • MIL-OSI: ISDNP Enters Strategic Partnership with Vietnam’s Red River Group through MOU

    Source: GlobeNewswire (MIL-OSI)

    SEOUL, KOREA, Sept. 24, 2024 (GLOBE NEWSWIRE) — ISDNP (https://isdnp.co.kr/), in partnership with JournalInNews, has taken a significant step towards entering the Vietnamese market by forging an alliance with a prominent local enterprise. On the 19th, the two companies jointly announced, the signing of a Memorandum of Understanding (MOU) on the 17th with Vietnam’s Red River Group to formalize their strategic collaboration.

    This agreement follows a high-level meeting on the 16th at Red River’s headquarters in Hanoi, Vietnam, between Insoo Park, the Chairman of JournalInNews, and LE CONG HOANG, Chairman of the Red River Group, during which both parties discussed the framework for a strategic partnership.

    The MOU outlines key areas of cooperation, including the introduction of ISDNP’s pedestrian signal voice guidance system in Vietnam and the promotion of JournalInNews’s JsetCoin within the Vietnamese business landscape. Both companies are poised to jointly deploy ISDNP’s pedestrian signal system nationwide, leveraging Red River Group’s extensive network and resources.

    Red River Group is a prominent, diversified conglomerate in Vietnam, with business interests spanning petroleum distribution, tourist vehicle rentals, smart parking solutions, automotive management centers, and emergency response infrastructure. Notably, its traffic rescue centers, which provide critical emergency assistance, are recognized as essential contributors to Vietnam’s transport and safety sectors.

    Through this partnership, both parties anticipate enhancing bilateral economic, social, and cultural exchanges while delivering substantive outcomes. ISDNP has committed to supplying the requisite technical expertise and information necessary for the successful deployment of the pedestrian signal voice guidance system, while Red River Group has pledged comprehensive support to ensure the project’s smooth execution.

    Additionally, JournalInNews has designated Red River Group as its strategic partner to facilitate the expansion of JsetCoin within the Vietnamese market. Both parties are exploring various collaborative avenues, including the potential establishment of a local subsidiary, aimed at fostering a synergistic partnership and ensuring the efficient exchange of essential information.

    This MOU is expected to strengthen economic ties between the two countries and serve as a catalyst for sustained growth. Both parties have committed to maintaining close cooperation to ensure the successful realization of the agreement’s objectives.

    Media contact

    Brand: ISDNP

    Contact: Media team

    Email: support@isdnp.co.kr

    Website: https://isdnp.co.kr/

    SOURCE: ISDNP

    The MIL Network –

    September 29, 2024

  • MIL-OSI: Form 8.3 – [KEYWORDS STUDIOS PLC – 23 09 2024] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

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

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 KEYWORDS STUDIOS PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 23 SEPTEMBER 2024
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

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

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

    Class of relevant security: 1p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 1,388,169 1.7244    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 1,388,169 1.7244    

    All interests and all short positions should be disclosed.

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

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

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

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

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

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    1p ORDINARY SALE 1,185 2428.8002p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

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

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

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

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 24 SEPTEMBER 2024
    Contact name: PHIL HULME
    Telephone number: 01253 376551

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

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

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

    The MIL Network –

    September 29, 2024

  • MIL-OSI: Twaao Exchange Secures U.S. MSB License, Advancing Toward Global Compliance

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 24, 2024 (GLOBE NEWSWIRE) — Recently, Twaao Exchange successfully obtained the Money Services Business (MSB) license issued by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury. This significant compliance certification marks a key step forward for Twaao in adhering to international financial regulations, ensuring the legal operation of the platform on a global scale. By strictly following anti-money laundering (AML) and know your customer (KYC) regulations, Twaao provides users with a transparent and secure trading environment.

    Securing the MSB license is an important milestone for Twaao in its compliance operations. The MSB license is a regulatory certification for financial service institutions in the United States, aimed at preventing financial crimes and protecting consumer rights. By obtaining this certification, Twaao not only demonstrates its commitment to compliance but also lays a solid foundation for expansion in the global market.

    In the process of obtaining the MSB license, Twaao meticulously adhered to FinCEN requirements, implementing comprehensive anti-money laundering and customer identity verification measures. Through advanced technological means and stringent management processes, Twaao ensures that the identity information and transaction records of each user are properly managed and protected, preventing any form of financial crime.

    In terms of anti-money laundering, Twaao employs advanced monitoring and analysis technology to detect and identify suspicious trading activities in real-time. Through comprehensive monitoring and risk assessment of user trading behaviors, Twaao can promptly identify and prevent potential money laundering activities, ensuring the platform compliance and security. Additionally, Twaao has established a robust customer identity verification mechanism to ensure the authenticity and validity of user identity information, preventing identity theft and other deceptive activities.

    The acquisition of the MSB license is an important step in Twaao journey toward global compliant operations. In the future, Twaao will continue to strengthen its investment in compliance, continuously improving and enhancing the platform compliance management system. By collaborating with leading international compliance organizations, Twaao will introduce more advanced technologies and management experiences to provide users with safer and more reliable trading services.

    The MIL Network –

    September 29, 2024

  • MIL-OSI: Equifax Canada Reports Rise in Automotive Fraud

    Source: GlobeNewswire (MIL-OSI)

    – Automotive Fraud Driven by ID Theft and Falsified Credit Applications a Significant Area of Concern for Businesses and Consumers –

    TORONTO, Sept. 24, 2024 (GLOBE NEWSWIRE) — Equifax Canada reports that while application fraud is down in some areas, automotive lenders are seeing a surge in fraud. According to new data from Equifax Canada, automotive fraud is up by 54 per cent year-over-year and is largely driven by falsified credit applications and the continued prevalence in identity theft. Ontario has experienced the most significant increase in auto fraud rates, doubling since Q2 2023.

    In addition, first party fraud (fraud in which the borrower knowingly uses their own personal information to commit fraud) continues to be the most prevalent type of misrepresentation in automotive. “Automotive fraud is a significant pain point for both businesses and consumers,” said Carl Davies, Head of Fraud and Identity at Equifax Canada. “Consumers choosing to falsify their income, employment, and financial information to secure credit are a growing concern for lenders. This deceit may provide short-term financial gains for the consumer, but certainly can lead to long-term consequences such as loan denials, damaged credit, and legal ramifications.”

    Synthetic Identity Fraud
    Overall, the proportion of identity theft in credit applications continues to grow with 48.3 per cent of all fraud applications flagged as identity fraud in Q2 2024, up from 42.9 per cent in Q2 2023, according to data from Equifax Canada. While the proportion of true identity fraud remained the same at 39.4 per cent, there has been a rise in synthetic identity fraud, where criminals combine real and fake data to create new identities. The incidence of synthetic identity fraud rose from 2.8 per cent in Q2 2023 to eight per cent in Q2 2024.

    “The rise in true identity fraud along with synthetic identity fraud, underscores the need for enhanced fraud detection across digital platforms where these crimes are increasingly being perpetrated,” added Davies. “The increase in digital transactions has made it easier for fraudsters to exploit weaknesses in current fraud prevention measures.”

    Other Notable Trends:

    • Identity Fraud: Older consumers with high credit scores are increasingly being targeted. Forty per cent of third-party identity fraud cases involved victims with credit scores above 800 (which is considered excellent), and 76 per cent of these consumers had no prior delinquency on their credit files.
    • Mortgage Fraud: Across Canada, mortgage fraud rates have dropped by 16.3 per cent year-over-year. Alberta is the one exception with mortgage fraud on the rise, often involving falsified income and employment documentation.
    • Deposit Fraud: Deposit fraud, which occurs when fraudulent transactions or payments are made to recently opened accounts, has also experienced a sharp increase, growing from 27.4 per cent of first-party fraud in Q2 2023 to 41.2 per cent in Q2 2024, much of which was driven by the telco industry.

    As fraudsters adapt and refine their tactics, it’s important for businesses and consumers to stay vigilant by using ID theft protection tools that can detect fraud early through timely alerts on credit report changes. Effective fraud prevention includes verifying identities, cross-checking financial documents, and staying informed about regional fraud trends—key measures that can help mitigate the growing threat of fraud for Canadian consumers and businesses alike.

    For more information on fraud prevention, visit Equifax Canada’s website and the Canadian Anti-Fraud Centre.

    About Equifax
    At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.

    Contact:

    Andrew Findlater
    SELECT Public Relations
    afindlater@selectpr.ca
    (647) 444-1197

    Angie Andich
    Equifax Canada Media Relations
    MediaRelationsCanada@equifax.com

    The MIL Network –

    September 29, 2024
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