NewzIntel.com

Category: Economics

  • MIL-OSI Economics: American stocks lifted households’ securities up

    Source: Danmarks Nationalbank

    Securities

    Statistics period: December 2024

    Danish households’ securities increased by kr. 86 billion in 2024. Most of the increase was due to capital gains. It was particularly foreign shares that drove the development. Alone, the price increases of American shares amounted to kr. 50 billion, while the purchases of these totaled kr. 13 billion. In addition to owning foreign shares directly, households also have shares through foreign investment funds, which also increased. In contrast, there were both capital losses and sales of Danish shares. Capital losses on Novo Nordisk shares accounted to kr. 18 billion, while there were capital gains on other Danish listed shares of kr. 9 billion. By the end of 2024, households had a total of securities worth kr. 1,202 billion, which, for comparison, corresponds to the amount they have in deposits in financial institutions.

    Households hold securities worth kr. 1,202 billion

    Note:

    Note: Households’ (employees and pensioners, etc.) investments in securities. The holdings include both individual pension schemes in financial institutions and freely invested funds. Danish investment funds are looked through, so the funds’ investments in shares and bonds, etc., are shown. Foreign investment funds have not been looked through. Shares are listed shares. Other include unlisted shares and investments by Danish investment funds in investment funds that have not been looked through.

    MIL OSI Economics –

  • MIL-OSI Economics: $500 Million ADB Loan to Bolster Philippines’ Disaster Resilience

    Source: Asia Development Bank

    MANILA, PHILIPPINES (29 January 2025) — The Asian Development Bank (ADB) has approved a $500 million policy-based loan to provide the Philippines with quick access to financing in case of disasters triggered by natural hazards or health-related emergencies. The financing will support reforms to raise resilience and enable timely response and recovery efforts, thus minimizing the impact of disasters on the economy and Filipinos’ lives and livelihoods.

    The Second Disaster Resilience Improvement Program is a multiyear contingent disaster financing program with an option to replenish the facility twice, upon approval by the ADB Board. Loan renewals are allowed if there will be unutilized amounts after the initial 5-year period.

    “The Philippines is one of the fastest growing economies in Southeast Asia but is at high risk for earthquakes, volcanic eruptions, typhoons, rising sea levels, and flooding,” said ADB Country Director for the Philippines Pavit Ramachandran. “With this program, we aim to help boost the country’s capacity for disaster risk reduction and management (DRRM) nationally and locally, including state-owned and controlled corporations; strengthen DRRM policies and frameworks; and attain long-term resilience to lessen the impact of disasters, especially to the most vulnerable sectors.”

    The Philippines ranked as  the highest in disaster risk out of 193 economies in 2024, according to the World Risk Report 2024. At least 60% of its total land area is exposed to multiple hazards, with nearly three-fourths of its entire population susceptible to the impact of these hazards. The country experiences at least 20 typhoons and an average of up to 150 earthquakes of at least magnitude 4 every year.

    The new program seeks to harmonize DRRM planning processes at the national, provincial, and city levels and integrate DRRM in national public financial management (PFM) reforms as prescribed in the PFM roadmap developed with ADB’s support. It also seeks to incorporate gender equity, disability, and social inclusion in DRRM plans; enhance the service delivery of state-owned or controlled corporations for disaster response; and provide additional sources of risk financing, including a voluntary city parametric disaster insurance scheme that offers faster payouts for damages from earthquakes, typhoons, and other disasters.

    The program forms a central part of ADB’s support to the Philippines to build disaster resilience. It builds on the reforms achieved under the first Disaster Resilience Improvement Program. It also leverages past ADB assistance on climate and disaster resilience, such as the support for the Comprehensive and Integrated Delivery of Social Services (KALAHI-CIDSS) program, which addressed the post-disaster needs of local communities. 

    The program complements ADB’s Integrated Flood Resilience and Adaptation Project (Phase 1), which is helping prepare and implement DRRM plans to reduce selected LGUs’ disaster vulnerabilities. Finally, it builds on the Climate Change Action Plan Subprograms 1 and 2, which support the implementation of national climate policies and the scale-up of climate adaptation and mitigation efforts at the national and local levels.

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

    MIL OSI Economics –

  • MIL-OSI Economics: 29 January 2025 The ‘Arctic – Territory of Dialogue’ International Arctic Forum to be held under the slogan “The North – the place to live!” A meeting has been held in Moscow between Anton Kobyakov, Adviser to the President of the Russian Federation, Executive Secretary of the Organizing Committee for the ‘Arctic – Territory of Dialogue’ International Arctic Forum, and Andrey Chibis, Governor of the Murmansk Region.

    Source: Eastern Economic Forum

    MIL OSI Economics –

  • MIL-OSI Economics: Asian Development Bank and the United States: Fact Sheet

    Source: Asia Development Bank

    Updated yearly, this ADB Fact Sheet provides information on the United States’ contributions to ADB in terms of capital subscription and funding, the country’s delegates to ADB, and the involvement of American companies and consultants in ADB projects.

    MIL OSI Economics –

  • MIL-OSI Economics: Result of the Daily Variable Rate Repo (VRR) auction held on January 29, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 1,75,000
    Total amount of bids received (in ₹ crore) 1,66,833
    Amount allotted (in ₹ crore) 1,66,833
    Cut off Rate (%) 6.51
    Weighted Average Rate (%) 6.51
    Partial Allotment Percentage of bids received at cut off rate (%) N.A.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/2027

    MIL OSI Economics –

  • MIL-OSI Economics: Development Asia: From Guesswork to Precision: Enhancing Agricultural Mapping with Geospatial Tech

    Source: Asia Development Bank

    The growing accessibility of geospatial technologies is reshaping how agricultural statistics are gathered, processed, and disseminated. Advanced technologies like remote sensing using satellite imagery, GPS, and unmanned aerial vehicles (UAVs) offer the potential for more efficient methods to monitor changes in agriculture with greater precision and frequency.

    When considering the most suitable method for GPS land measurement, several critical factors—such as the size, shape, and terrain of the parcel—must be considered, along with available resources.

    Walking method: The common method involves an enumerator, usually guided by the farmer, physically walking the perimeter of a parcel while carrying a GPS device, which automatically tracks and calculates the area. This approach reduces the need for multiple pieces of surveying equipment and extensive training for field staff. Furthermore, the time required for measurement is limited to the duration of walking the parcel’s perimeter, significantly streamlining the overall process. It is recommended when the highest positional accuracy and measurement precision are required.

    Moreover, GPS measurement methods integrated into tablets can be advantageous in certain cases, particularly due to their convenience and potential integration with other data collection tools.

    The walking method, whether using a dedicated handheld GPS device or an on-tablet GPS sensor, is particularly effective for smaller parcels with complex shapes and easily navigable terrain. It allows for precise boundary capture but can be time-consuming for larger parcels, potentially taking up to one hour for areas exceeding 10,000 m².

    Digitization method: Conversely, the digitization method is more suitable for large, monocropped areas. This method involves the farmer tracing the boundary of their parcel directly over a satellite image, negating the need for the farmer and enumerator to walk the boundary physically. Key to the success of this approach is the ability of the farmer to accurately recognize their land from an aerial perspective and the assumption that the satellite imagery is up-to-date and reflects the current agricultural season.

    Parcel corner GPS: The parcel corner GPS method involves an enumerator identifying and marking only the corners of the parcel using the Survey Solutions geometry multi-point question type to speed up the data input process. The goal is to capture the essential boundaries of the parcel more easily. The key challenge in using this method is the difficulty in accurately identifying corner points, particularly in irregularly shaped parcels. Significant inaccuracies in area measurement may also occur if enumerators are not properly trained and well-versed in using the field instruments.

    MIL OSI Economics –

  • MIL-OSI Economics: Panasonic Newly Unveiled KAIROS New Version: Control Up to Two Kairos Core by One Panel and Supports various resolutions such as 16:10

    Source: Panasonic

    Headline: Panasonic Newly Unveiled KAIROS New Version: Control Up to Two Kairos Core by One Panel and Supports various resolutions such as 16:10

    Osaka, Japan – January 29, 2025 – Panasonic Entertainment & Communication today announced the release of the new software “Version 1.8” will be available in February 2025.
    With version 1.8, which includes new Multiple Core Control features, integration with graphics platforms Singular.live and Viz Flowics, and support for more diverse resolutions such as 16:10 and 5:4, KAIROS is a great addition to the game for large live events and broadcasters. We offer video production systems with a high degree of freedom and ease of use for customers who require high quality, rich video production across multiple locations.
    The new version allows up to two Kairos Core mainframes to be connected to a single Kairos Control Panel. This allows more video sources to be handled and improves the efficiency of the KAIROS operation at large events. Previously, it was possible to register up to eight Control Panels from the Kairos Core side, but since the Control Panel can only be registered to one specific Kairos Core, a corresponding number of Control Panels were required to operate multiple Kairos Cores. Using this feature, for one panel can be divided into an upper and lower sections, for example, and each Core can be assigned to each section. In addition, two Kairos Core units can also be configured from Kairos Creator.

    MIL OSI Economics –

  • MIL-OSI Economics: Panasonic Leaps “Well into the future” with AI and Data-Driven Innovations at CES 2025 Exhibition Space

    Source: Panasonic

    Headline: Panasonic Leaps “Well into the future” with AI and Data-Driven Innovations at CES 2025 Exhibition Space

    Marking a 58th consecutive year as an exhibitor at one of the world’s most influential consumer electronics events, Panasonic Group was on hand at CES 2025 (January 7–10 in Las Vegas, Nevada, U.S.A.) to engage with audiences about its strategic shift toward AI and data-driven businesses. This year’s CES was host to more than 141,000 visitors and 4,500 exhibitors from more than 150 countries and regions, but not everyone had the opportunity to attend. If you missed out, here are some key highlights from the Panasonic Group exhibition space. 

    Theme Signals Strategic Shift toward AI, Data-Driven Solutions

    The theme for Panasonic Group’s exhibition space was “Well into the future.” Announced by Panasonic Holdings Corporation Co., Ltd. (Panasonic HD) Group CEO Yuki Kusumi during his opening keynote, this year’s theme signified the organization’s strategic shift toward AI and data-driven businesses in pursuit of an ideal society with affluence both in matter and mind.
    “Well into the future” embodies the idea that, through innovations and a commitment to addressing social issues, Panasonic will lead the development of cutting-edge solutions to help achieve its core mission to inspire a healthy society and enrich the lives of people around the world. 
    “This year’s theme is a reference to Panasonic founder Konosuke Matsushita’s vision of contributing to the well-being of people and the progress of society,” said Mike King, Director, Brand Marketing & Creative Services, Marketing & Communications, Panasonic Operational Excellence of North America. “And you can see that theme throughout the exhibit—with technologies that support the well-being of individuals, of families and all of society, with our focus on green energy transformation and decarbonization, but also the use of AI-powered solutions to help families to experience greater connection, connectivity, comfort, and well-being.”

    [embedded content]

    Located in Las Vegas Convention Center (LVCC)’s Central Hall, the exhibition space was an enclosed environment divided into four areas: Panasonic Go, Home, Carbon Neutral, and Circular Economy. The design was a departure from the open layouts of previous years, allowing visitors to experience the complete Panasonic story—from its history and vision for the future to technologies they can use today and solutions that will contribute to a sustainable tomorrow.

    Growth Initiative Links Past and Future under “Panasonic Go”

    Panasonic Go is a global corporate growth initiative that will drive transformation through AI-powered, software-led investments across Panasonic Group and create new experiences for customers and partners.
    This area of the exhibition space welcomed visitors with a look back over the storied history of the Panasonic Group, illustrating historical milestones and introducing home appliances that have enriched lives since the company’s founding in 1918. Moving further into the exhibition space, a video explained Matsushita’s ambitious 10-stage, 250-year plan to contribute to solving social issues and improving people’s lives through technology and the role that Panasonic Go will play in driving the transformation to an AI-powered business model towards the plan’s fifth stage (2032–2056).
    * The name Panasonic Go was also inspired by the Japanese word for “five”
    Panasonic Group products have already changed the lives of more than one billion people. Looking ahead, the Group will leverage AI and data platforms—from Blue Yonder’s supply chain management solutions to Panasonic Well’s family wellness platform—to make new contributions for current and future generations.  
    Speaking of wellness, the final section of the Panasonic Go area gave visitors a chance to get a sneak peek of Umi, a new consumer offering from the Panasonic Well portfolio that will be available in the United States market in 2025. Umi is an innovative digital wellness platform and personalized family wellness coach that uses AI and a community of experts to help people build healthy habits and routines. Umi will be the first Panasonic Well consumer brand to use Claude, Anthropic’s AI assistant known for its reasoning capabilities, deep understanding of complex topics, and ability to engage in natural conversations. Claude excels at analyzing data, writing and editing content, and helping solve complex problems—all while maintaining the highest standards of safety and security.

    Carbon Neutral & Circular Economy Exhibits Highlight Sustainability Efforts

    Panasonic HD took the stage at CES 2022 to announce its long-term environmental vision, Panasonic GREEN IMPACT (PGI), and since then the Group has been engaged in a variety of activities to expand its impact toward achieving carbon neutrality and a circular economy. These areas in the exhibition space, Carbon Neutral and Circular Economy, introduced solutions and technologies that will be contributing to achieving the goals established under PGI.

    Visitors also had the opportunity to learn more about how the Panasonic Group is tackling Carbon Neutral challenges and promoting Circular Economy initiatives in its products and solutions as it advances toward the broader goal of contributing to realizing sustainable lifestyles and society. 
    The Carbon Neutral display was organized into three main technologies/approaches: “Updating,” “Electrifying,” and “Harnessing.”
    “Updating” means replacing existing methods with low environmental impact alternatives to reduce energy consumption and greenhouse gas emissions. Hussmann display cases for refrigerated and frozen goods use natural refrigerant R290 to greatly reduce environmental impact compared to traditional CFC refrigerant alternatives currently in use.
    “Electrifying” represents the transition from fossil fuels to electric power and making the most of renewable energy. Panasonic Group is a leader in automotive battery cells, having delivered more than 15 billion units to date—enough to power three million EVs worldwide. Visitors were able to check out the Panasonic 2170 cell, which features the world’s highest energy density, as well as the new Panasonic 4680 cell, which has a capacity around five times greater than the 2170 cell. The company’s efforts with Redwood Materials, Inc. and Nouveau Monde Graphite, Inc. to reduce its carbon footprint and achieve a sustainable society were also available for visitors to explore. Finally, they could learn more about Panasonic HX, an advanced energy management system that coordinates pure hydrogen fuel cells, solar cells, and storage batteries to efficiently supply renewable energy in response to changes in electricity demand and weather conditions.
    “Harnessing” is an approach that uses natural resources to produce cleaner resources, leading to CO2 reduction and absorption. One technology aiding the approach is the anion exchange membrane water electrolysis, a device enabling highly efficient and low-cost green hydrogen production. A fully developed anion exchange membrane (AEM) electrode made of iron and nickel was on display in the area. Visitors could also see a life-size mockup of window-mounted perovskite solar cells which demonstrated the transparency and design flexibility of this unique power-generating technology. Also on display was the growth stimulant Novitek®, a technology that uses ambient CO2 in combination with cyanobacteria, a type of photosynthetic microorganism, to increase food productivity.

    The Panasonic Group is committed to the Circular Economy under the three principles of “Maximizing,” “Minimizing,” and “Partnering.” In this area, the Group introduced its efforts to efficiently use resources and reduce consumption of the Earth’s limited natural resources.
    Extending the effective use period while maintaining and improving the value of resources across a product’s lifecycle is known as “Maximizing.” Panasonic displayed a concept model based on the principle of Design for Circular Economy (DfCE); DfCE products are easy to assemble/disassemble (ease of repair), have fewer connectors/fasteners (ease of assembly), and can be grouped for reuse and recycling (ease of recycling).
    “Minimizing” means using fewer new materials and more recycled and renewable materials. For example, approximately 45 percent of the plastic used in the Technics EAH-AZ80 earphones and charging case is made of plant-derived DURABIO , while the Lamdash Palm In ES-PV6A shaver uses NAGORI®, an innovative composite material derived from minerals extracted from seawater, reducing plastic use by approximately 40%1. A second exhibit showcased lighting that incorporates kinari , a sustainable material composed primarily of plant fibers that offers the moldability of conventional petroleum-based resins.
    Designing products and systems for a circular economy is a challenge that Panasonic Group cannot tackle alone, so it emphasizes “Partnering” with customers and partners promote a new style of recycling-oriented management, information sharing, and product use. One outcome of these collaborative efforts is Tracephere , a traceability solution for product recycling and recycled resource processes based on blockchain technology.

    OASYS and Home Appliances Supporting People’s Health, Comfort, and Safety

    The center of the space introduced the Group’s next generation of residential solutions for comfortable, healthy, economical, sustainable, and secure living. Grabbing center stage was the new OASYS solution—a residential central air conditioning system being introduced in the U.S. market that uses a combination of existing products to heat, cool, and ventilate the home while reducing energy consumption by over 50% compared to conventional systems in the U.S.2 In addition to maximizing air volume while minimizing temperature differences and noise, OASYS paves the way for homes powered by 100 percent renewable energy based on high-efficiency water heaters and a lifestyle-adaptive home energy management system.
    Complementing OASYS were displays for home appliances that enrich people’s lives. These included the Technics EAH-AZ100 true wireless earbuds, the Panasonic TV lineup, SoundSlayer Wireless Wearable Gaming Speaker System SC-GNW10, CV88QS multi-oven, LUMIX Full Frame and Micro Four Thirds cameras and lenses, ARC5 PALM-sized 5-Blade Electric Luxury Razor, Panasonic MultiShape, and nanoe hair dryers.

    New Technologies Strengthen Commitment to a Better Tomorrow

    “Our hope is that people will understand that Panasonic’s commitment has not changed in over 100 years—it has always been about making people’s lives better and making the world a better place. The only difference is that today we are doing it with new technologies like AI and software,” said King. “From the individual to all of society, our hope is that people understand our commitment to helping people live healthier, happier lives.”
    King continued: “We hope that people were surprised and excited about some of the new technologies that Panasonic is introducing. A lot of people are concerned about the environment, and we remain committed to sustainability, to green energy transformation, and to new initiatives that will be important for the health of the planet overall.” 

    [embedded content]

    1: Compared to Lamdash PRO 5-blade ES-LV9W released in 2023
    2: Conventional home air conditioning system using a heat pump cooling system (14.2 SEER2) and gas furnace (80% AFUE) compliant with IECC 2015; OASYS system using Panasonic Mini Split AC and transfer fans for both cooling and heating functions in houses compliant with OASYS-required specifications. (Estimate based on the conversion of gas energy consumption to electricity)

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    MIL OSI Economics –

  • MIL-OSI Economics: Panasonic AV-HSW10 Compact Live Switcher’s Firmware Release to Add NDI(R) High Bandwidth Mode

    Source: Panasonic

    Headline: Panasonic AV-HSW10 Compact Live Switcher’s Firmware Release to Add NDI(R) High Bandwidth Mode

    Osaka, Japan – January 29, 2025 – Panasonic Entertainment & Communication today announced an upcoming new firmware, V3.0 for its AV-HSW10 compact live switcher, which will add new features such as NDI® High Bandwidth capability for more flexible operation to meet the needs of a wider range of production sites and systems, scheduled for release in January 2025. Also, a new firmware, V1.7 for the Panasonic AV-UHS500 live switcher will be released simultaneously. Both updates will enable Panasonic’s live switchers to offer increased flexibility in response to the growing demand for video production and distribution in live entertainment, seminars, events, and more.
    Note: For the latest information on firmware availability, please refer to the website shown below.

    ●AV-HSW10 Firmware Upgrade

    1. New NDI® High Bandwidth mode (NDI HB mode) for enhanced I/O flexibility

    In addition to Normal mode, which combines various IP inputs and outputs, the new firmware will add NDI® High Bandwidth mode.*1 This mode will provide four respective inputs, doubling existing capacity, and one output. When combined with Panasonic’s NDI®certified PTZ cameras and other compatible devices, NDI® High Bandwidth mode will simplify the operation of NDI®centric systems. Existing baseband inputs and outputs will remain available for seamless use in hybrid baseband- and IP-based video production and distribution environments, as before.

    Pre-update (current) I/O

    Video input

    3G-SDI

    4 / 3

    HDMI

    1 / 2

    NDI® High Bandwidth

    2 (α ch. Support)

    SRT

    2

    NDI® HX1/NDI® HX2

    Video output

    3G-SDI

    2

    HDMI

    1

    NDI® High Bandwidth

    2

    SRT

    RTMP

    UVC

    1

    Post-update I/O

    Modes

    Normal

    NDI® High Bandwidth

    Video input

    3G-SDI

    4 / 3

    4/ 3

    HDMI

    1 / 2

    1 / 2

    NDI® High Bandwidth

    2 (α ch. Support)

    4 (α ch. Support)

    SRT

    2

    –

    NDI® HX1/NDI® HX2

    Video output

    3G-SDI

    2

    2

    HDMI

    1

    1

    NDI® High Bandwidth

    2

    1

    SRT

    –

    RTMP/RTMPS

    UVC

    1

    1

    *1: Firmware for each mode must be selected and rewritten using a USB memory device. Switching from Normal to NDI HB mode will require a firmware rewrite and device reboot each time.

    2. Improved Operational Convenience with Function Updates

    Audio Input Selection Mode: Any audio can be assigned to video input. In addition, audio multiplex input can be toggled on/off when KEY is activated.
    Enhanced Video Compatibility: Supports 1080i with NDI® High Bandwidth, USB output for 1080i system format (conversion to 1080p for UVC output), and RTMPS.
    Improved Compatibility with Panasonic PTZ Cameras: Enables tally linking with Panasonic AW-UE30W/K PTZ camera and AW-UE150AW/K PTZ camera, and yellow tally with certain other Panasonic PTZ cameras.

    ●AV-UHS500 Firmware Upgrade

    The upcoming firmware upgrade for the AV-UHS500 will enhance the functionality and convenience, both within systems and when integrating the camera with other Panasonic products.

    1. Compatibility with Panasonic Media Production Suite Software

    In the Media Production Suite, Device View will display devices in a list and allow IP address to be configured.

    2. Other Updates

    The AV-UHS500 will newly offer additional Audio Input selections and enhanced compatibility with Panasonic PTZ cameras.

    To complement the company’s comprehensive video production ecosystem, including cameras and software, Panasonic continuously upgrades its AV-HSW10 compact live switcher and AV-UHS500 live switcher in response to user feedback, including for increased hardware stability and software expandability, striving to offer diverse content creators and other users enhanced video production capability.
    For more details on these products:AV-HSW10: https://pro-av.panasonic.net/en/products/av-hsw10/AV-UHS500: https://pro-av.panasonic.net/en/products/av-uhs500/
    Firmware download site:https://eww.pass.panasonic.co.jp/p2ui/guest/TopLogin.do?lang=en&category=pav
    Note: Firmware specifications, etc. subject to change without notice
    Broadcast and Professional Video Systems Global Webpagehttps://pro-av.panasonic.net/en/

    Media Contact:

    For more information about this topic, please contactpro-av.ad@gg.jp.panasonic.com

    About Panasonic Entertainment & Communication Co., Ltd.
    Panasonic Entertainment & Communication Co., Ltd. established in April 2022 as part of the Panasonic Group’s switch to an operating company system, is strengthening the bonds among people and enriching our customers’ lives by providing consumer electronics, including AVC products such as OLED TVs, Lumix digital cameras, headphones, phones, intercoms, and more, as well as business products and solutions including for broadcast, professional AV, and sound systems globally. Our mission is to offer people new emotion and relaxation through our entertainment and communication solutions. To fulfill this mission, we strive to act with professionalism to continuously recreate the future by connecting people. For more details, please visit https://www.panasonic.com/global/peac.

    MIL OSI Economics –

  • MIL-OSI Economics: Money Market Operations as on January 28, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,60,557.39 6.55 5.10-6.90
         I. Call Money 14,705.14 6.55 5.10-6.65
         II. Triparty Repo 3,91,434.90 6.53 6.40-6.65
         III. Market Repo 1,52,590.05 6.58 5.75-6.80
         IV. Repo in Corporate Bond 1,827.30 6.73 6.65-6.90
    B. Term Segment      
         I. Notice Money** 156.10 6.28 6.00-6.60
         II. Term Money@@ 282.00 – 6.65-7.50
         III. Triparty Repo 844.00 6.65 6.60-6.70
         IV. Market Repo 873.72 5.94 5.75-6.65
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Tue, 28/01/2025 1 Wed, 29/01/2025 1,39,281.00 6.51
         (b) Reverse Repo          
    3. MSF# Tue, 28/01/2025 1 Wed, 29/01/2025 1,779.00 6.75
    4. SDFΔ# Tue, 28/01/2025 1 Wed, 29/01/2025 61,541.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       79,519.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 24/01/2025 14 Fri, 07/02/2025 1,62,096.00 6.51
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       9,556.71  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     1,71,652.71  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     2,51,171.71  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on January 28, 2025 9,07,883.94  
         (ii) Average daily cash reserve requirement for the fortnight ending February 07, 2025 9,12,544.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ January 28, 2025 1,39,281.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on January 10, 2025 -40,102.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/2026

    MIL OSI Economics –

  • MIL-OSI Economics: New Leadership at Sony Interactive Entertainment

    Source: Sony

    San Mateo, Calif., January 28 (PST) /Tokyo, January 29 (JST), 2025 – Sony Group Corporation and Sony Interactive Entertainment (SIE), the company behind PlayStation, today announced the appointment of Hideaki Nishino to the role of President and CEO effective April 1, 2025.

    MIL OSI Economics –

  • MIL-OSI Economics: Changes to Sony Group’s Management Structure

    Source: Sony

    Tokyo, Japan – Sony Group Corporation (“Sony”) today announced that Hiroki Totoki, currently Director, Representative Corporate Executive Officer, President, COO and CFO, has been newly appointed as Director, Representative Corporate Executive Officer, President and Chief Executive Officer, effective April 1, 2025.

    MIL OSI Economics –

  • MIL-OSI Economics: African ministers welcome bold Mission 300 initiative to expand electricity access

    Source: African Development Bank Group
    African energy and finance ministers welcomed an ambitious new partnership to transform the continent’s power sector at the Mission 300 Africa Energy Summit in Dar es Salaam on January 27, while highlighting their countries’ distinct paths toward achieving universal access to electricity.

    MIL OSI Economics –

  • MIL-OSI Economics: IMF Executive Board Concludes 2024 Article IV Consultation with Bolivia

    Source: International Monetary Fund

    January 28, 2025

    Washington, DC: On March 22nd, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 for Bolivia. This also included a discussion of the findings of the Financial Sector Assessment Program (FSAP) exercise for Bolivia.[1]

    Bolivia’s growth momentum moderated in 2023, to 2.5 percent, from declining natural gas production, less public investment, and financial market turmoil. Price controls, food and fuel subsidies, export restrictions, and strong agricultural production held inflation below 2 percent at year-end. However, the combination of lower natural gas exports, high fuel imports, a large fiscal deficit―increasingly financed by the central bank―and an overvalued exchange rate contributed to a wider current account deficit (estimated at 5 percent of GDP for 2023) and near-depletion of international reserves. Public debt increased to nearly 84 percent of GDP by end-2023. Sovereign spreads rose sharply in early 2023 as the foreign exchange (FX) shortage became apparent and a mid-sized bank (Banco Fassil) failed. Consequently, banks were forced to restrict the withdrawal of FX deposits, heightening financial sector stability risks.

    Growth is anticipated to decelerate to 1.6 percent in 2024, holding at around 2.2-2.3 percent in the medium term under the continuation of the current policies. Inflation is forecast to reach 4.5 percent in 2024, stabilizing around 4 percent thereafter. The outlook is however predicated on significantly improved access to external financing, without which the risk of disorderly fiscal and/or exchange rate adjustment is elevated. External factors such as reduced demand, intensified global conflicts disrupting trade routes, commodity price volatility, or a renewed tightening of financial conditions could worsen fiscal and external imbalances, impede growth, and destabilize the domestic financial sector.

    Additionally, extreme weather events, like the 2023 droughts and recent floods, pose a risk to Bolivia’s agricultural sector and critical infrastructure. Domestically, a faster decline in hydrocarbon production, higher inflation due to FX scarcity, or confidence shocks could further impact growth, hurt real incomes and exacerbate financial stability risks. Social unrest stemming from inequality and security concerns remains a concern, as evidenced by the prolonged road blockages of early 2024. On the upside, Bolivia could potentially benefit from the global shift towards green energy due to its vast lithium resources, although developing the lithium sector and scaling up domestic production capacity will likely take time.

    Executive Board Assessment[2]

    Executive Directors agreed with the thrust of the staff appraisal. They welcomed Bolivia’s socioeconomic progress over the past several years but expressed concerns about the difficult financial situation Bolivia currently finds itself in, with low reserves, uncertain fiscal financing, and pressures in parallel exchange markets. Directors stressed the urgency of a shift from current unsustainable policies to avoid a disorderly adjustment that would exert significant social and economic hardship.

    Directors called for continued constructive engagement on a sustainable policy mix that is likely to require both fiscal adjustment phased in over the next few years and an up front step devaluation to more quickly address the external imbalance and allow for a build up of reserves. They emphasized the importance of improving the social safety net to shield poorer households from inflation pressures following a realignment of the exchange rate. Directors also emphasized the importance of strengthening fiscal institutions to underpin the credibility of the planned adjustment and to improve central bank governance in support of a shift to a crawling peg and, eventually, to inflation targeting.

    Directors recommended a strengthening of the central banks’ capacity to conduct sterilization operations and to lift lending rate caps to improve the allocation of capital and enhance monetary policy transmission. They also underscored the need to improve crisis preparedness and contingency planning in line with FSAP recommendations to safeguard financial stability.

    Directors recommended a range of supply side reforms to unlock private investment, boost productivity and enhance competitiveness. These should include phasing out export ceilings and price controls and better prioritizing public investment projects. A stronger regulatory framework for hydrocarbon and lithium exploration could be instrumental in increasing investment in those sectors. Directors also called for enhancing AML/CFT framework and ensuring the timely publication of key macroeconomic data.

     

    Table 1. Bolivia: Selected Economic and Social Indicators, 2022–2026

    Population (millions, 2021)

    11.8

    Poverty rate (percent, 2021)

    36.3

    Population growth rate (percent, 2021)

    1.4

    Adult literacy rate (percent, 2021)

    94.8

    Life expectancy at birth (years, 2021)

    72

    GDP per capita (US$, 2021)

    3,437

    Total unemployment rate (2021)

    7.0

    IMF Quota (SDR, millions)

    240.1

    Est.

    2022

    2023

    2024

    2025

    2026

    Income and prices

    Real GDP

    3.6

    2.5

    1.6

    2.2

    2.2

    Nominal GDP

    8.9

    4.9

    6.2

    6.5

    6.2

    CPI inflation (period average)

    1.7

    2.6

    4.5

    4.2

    3.9

    CPI inflation (end of period)

    3.1

    2.1

    4.8

    4.0

    3.9

    Investment and savings 1/

    Total investment

    15.1

    15.9

    16.6

    16.3

    16.0

    Of which: Public sector

    5.7

    5.0

    6.0

    6.0

    6.0

    Gross national savings

    12.5

    8.6

    10.5

    10.3

    10.5

    Of which: Public sector

    -1.4

    -2.0

    -1.9

    -1.5

    -1.2

    Combined public sector

    Revenues and grants

    28.9

    28.3

    27.6

    27.4

    27.1

    Of which: Hydrocarbon related revenue

    6.0

    5.4

    4.3

    3.9

    3.5

    Expenditure

    36.0

    35.3

    35.5

    34.8

    34.3

    Current

    30.3

    30.3

    29.5

    28.8

    28.3

    Capital 2/

    5.7

    5.0

    6.0

    6.0

    6.0

    Net lending/borrowing (overall balance)

    -7.1

    -7.0

    -7.9

    -7.5

    -7.2

    Of which: Non-hydrocarbon balance

    -12.8

    -12.2

    -12.0

    -11.2

    -10.5

    Total gross NFPS debt 3/

    80.4

    83.6

    86.7

    88.9

    90.9

    External sector

    Current account 1/

    -0.4

    -5.0

    -5.7

    -5.8

    -5.6

    Exports of goods and services

    32.6

    28.5

    27.0

    26.9

    26.5

    Of which: Natural gas

    6.7

    3.8

    3.4

    3.0

    2.7

    Imports of goods and services

    32.9

    34.4

    33.6

    33.6

    32.7

    Capital account

    0.0

    0.0

    0.0

    0.0

    0.0

    Financial account (-= net inflow)

    -1.5

    -0.5

    -5.3

    -5.8

    -5.6

    Of which: Direct investment net

    -0.8

    -0.6

    -0.6

    -0.9

    -0.9

    Of which: Other investment, net

    -0.3

    -0.3

    -4.6

    -4.7

    -5.1

    Net errors and omissions

    -3.0

    0.0

    0.0

    0.0

    0.0

    Terms of trade index (percent change)

    -1.6

    1.2

    -0.6

    0.0

    0.2

    Central Bank gross foreign reserves 4/ 5/ 6/

    In millions of U.S. dollars

    3,796

    1,808

    1,653

    1,555

    1,556

    In months of imports of goods and services

    2.8

    1.3

    1.1

    1.0

    1.0

    In percent of GDP

    8.6

    3.9

    3.4

    3.0

    2.8

    In percent of ARA

    44.5

    20.8

    18.2

    16.2

    15.5

    Money and credit

    Credit to the private sector (percent change)

    6.3

    -0.4

    3.0

    4.3

    5.1

    Credit to the private sector (percent of GDP)

    74.2

    70.5

    68.4

    67.0

    66.3

    Broad money (percent of GDP)

    85.2

    82.8

    81.2

    80.0

    78.9

    Memorandum items:

    Nominal GDP (in billions of U.S. dollars)

    44.3

    46.5

    49.3

    52.5

    55.8

    Bolivianos/U.S. dollar (end-of-period) 7/

    6.9

    6.9

    …

    …

    …

    REER, period average (percent change) 8/

    -0.9

    -1.9

    …

    …

    …

    Oil prices (in U.S. dollars per barrel)

    96.4

    80.6

    77.7

    73.8

    70.9

    Energy-related subsidies to SOEs (percent of GDP) 9/

    4.4

    4.0

    3.5

    2.7

    2.4

    Sources: Bolivian authorities (MEFP, Ministry of Planning, BCB, INE, UDAPE); IMF; Fund staff calculations.
    1/ The discrepancy between the current account and the savings-investment balance reflects methodological differences. For the projection years, the discrepancy is assumed to remain constant in dollar value.
    2/ Includes nationalization costs and net lending.
    3/ Public debt includes SOE’s borrowing from the BCB (but not from other domestic institutions) and BCB loans to FINPRO and FNDR.
    4/ Excludes reserves from the Latin American Reserve Fund (FLAR) and Offshore Liquidity Requirements (RAL).
    5/ All foreign assets valued at market prices.
    6/ Includes a repurchase line of US$99.2 million maturing in 2025.
    7/ Official (buy) exchange rate.
    8/ The REER based on authorities’ methodology is different from that of the IMF (see 2018 and 2017 Staff Reports).
    9/ Includes the cost of subsidy borne by public enterprises and incentives for hydrocarbon exploration investments in the projection period.

    1 Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [1] The Financial Sector Assessment Program (FSAP), established in 1999, is a comprehensive and in-depth assessment of a country’s financial sector. FSAPs provide input for Article IV consultations and thus enhance Fund surveillance. FSAPs are mandatory for the 47 jurisdictions with systemically important financial sectors and otherwise conducted upon request from member countries. The key findings of an FSAP are summarized in a Financial System Stability Assessment (FSSA).

    [2] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.


    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Rosa Hernandez

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    MIL OSI Economics –

  • MIL-OSI Economics: Verizon Connect debuts new technology solutions for fleet safety and compliance

    Source: Verizon

    Headline: Verizon Connect debuts new technology solutions for fleet safety and compliance

    What you need to know:

    • Verizon Connect’s Extended View Cameras offer an advanced, integrated video solution to enhance fleet safety, visibility, and driver accountability, now available in the U.S.
    • The Driver Vehicle Inspection Report (DVIR) simplifies inspections and compliance, safety, and reduced maintenance costs in the U.S. and Canada.
    • These solutions provide fleet managers with enhanced insights, streamlined operations, and regulatory support, while helping to improve safety and reduce liability.

    NEW YORK – Verizon Connect announced the launch of two advanced solutions designed to enhance fleet safety, driver performance, and operational efficiency. The new Extended View Cameras deliver near-360-degree visibility with rear, side, and cargo cameras; while the customizable Driver Vehicle Inspection Report (DVIR) simplifies compliance and maintenance through Verizon Connect’s Reveal platform. Together, these innovations offer comprehensive tools for fleet managers to safeguard their assets, drivers, and the communities they serve.

    Extended View Cameras: Enhancing Visibility and Driver Performance

    Verizon Connect’s Extended View Cameras expand its Integrated Video solutions, featuring four additional cameras and an in-cab monitor. This setup provides fleet managers with near-complete visibility around vehicles, enabling enhanced visibility and driver performance while helping to reduce liability and costs.

    Key features include:

    • Improved safety: With near-360-degree coverage, drivers are more aware of their surroundings, helping to reduce the risk of collisions and enabling safer navigation in tight or busy spaces.
    • Enhanced visibility: Multi-channel camera views, including rear, side, and cargo angles, provide fleet managers with full situational awareness, improving safety during high-risk events.
    • Reduced liability: Side and rear cameras offer reliable video evidence, helping to protect drivers and businesses from false claims and exonerate drivers, and reduce legal expenses.
    • Reduced costs: The cargo camera can capture instances of damaged cargo due to risky driving behaviors, allowing fleet managers to mitigate future risks and lower operational expenses.
    • Driver performance: Drivers become more conscious of their behaviors, leading to safer driving practices allowing them to better adhere to safety protocols.

    “Our customers already reap huge benefits from our award-winning dashcam and driver-facing camera, but why stop there? Now we are extending the benefits by giving them near 360-degree visibility around the vehicle,” said Peter Mitchell, Senior Vice President and General Manager at Verizon Connect. “By reducing blind spots and promoting safer driving practices, our Extended View Cameras empower drivers and fleet managers to operate with even greater confidence and security.”

    Driver Vehicle Inspection Report: Streamlining Compliance and Maintenance

    Verizon Connect is also introducing its customizable DVIR, which is fully integrated into the Verizon Connect Reveal fleet management software. This solution consolidates compliance and inspection tracking into a single platform, helping fleets operate safely and efficiently.

    Key features include:

    • Customizable inspection reports: DVIR forms can be tailored to meet specific company requirements, ensuring thorough coverage of all vehicle safety standards.
    • Visual evidence: Drivers can upload photos to document vehicle damage or issues, improving the accuracy of reports.
    • Real-time alerts: Fleet managers receive instant notifications for incomplete inspections or detected vehicle defects, enabling proactive action to help prevent costly repairs or fines.
    • Seamless API integration: Integration with third-party maintenance providers allows quick resolution of identified defects, reducing vehicle downtime.

    “DVIRs are essential for maintaining vehicle safety, prolonging vehicle life and, of course, meeting regulatory compliance,” added Mitchell. “Our DVIR solution makes it easier for fleet managers to track inspections, address issues early, and keep their fleets safe and on the road.”

    Supporting Fleet Safety and Compliance

    The solutions are now available to new and existing Verizon Connect Reveal customers. The Extended View Cameras are available in the U.S., while the DVIR is available in the U.S. and Canada. These innovations reinforce Verizon Connect’s commitment to helping fleets operate more safely, efficiently, and in compliance with regulations, while also reducing costs and liability.

    For more information about Verizon Connect, visit: https://www.verizonconnect.com/.

    MIL OSI Economics –

  • MIL-OSI Economics: Verizon Unveils “House of Verizon” at Super Bowl LIX

    Source: Verizon

    Headline: Verizon Unveils “House of Verizon” at Super Bowl LIX

    NEW YORK – Ahead of Super Bowl LIX, Verizon is announcing a lineup of must-experience activations and programming at “House of Verizon,” located in the heart of downtown New Orleans at Fulton Alley. With events across sports, fashion, music, food and culture, “House of Verizon” brings exclusive access and experiences to Verizon customers and their guests beginning Thursday, February 6 through Sunday, February 9, with special giveaways and other surprises available only to Verizon customers.

    “Putting our local customers and Super Bowl fans at the center, ‘House of Verizon’ will bring to life unique experiences tied to the things they love,” said Leslie Berland, EVP, Chief Marketing Officer at Verizon. “Throughout the year, our customers get VIP Verizon access to the best in sports, entertainment, music and more. The Super Bowl is an opportunity to take these experiences to an entirely new level.”

    During the day, “House of Verizon” will have beats by DJ Angie Vee and DJ Fannie Mae, and feature appearances by NFL athletes, musical artists and fashion icons, appointments in the ‘Glam Suite’ with a personalized stylist, a station to create personalized tote bags with custom football charms by Coastal Caviar, and a shop full of NFL apparel from local New-Orleans based vintage store, Swamp Rags. Plus, guests will have the chance to compete in bowling challenges to win prizes such as authentic custom apparel, or a grand prize of two tickets to Super Bowl LIX.  For more information on “House of Verizon” programming and FAQs, visit houseofverizon.com.

    At night, “House of Verizon” will be the spot for parties and events Thursday – Sunday, making it the hottest destination of the weekend. Tickets to marquee events at “House of Verizon” are limited, and will be accessible to claim for select Verizon customers through the Verizon rewards program, VerizonAccess.

    Marquee events throughout the weekend include:

    Thursday, February 6

    • Special event in partnership with Alliance Sports.

    Friday, February 7

    • Showcase featuring Rhuigi Villaseñor, the founder and fashion designer of the luxury streetwear brand RHUDE, unveiling a new collection with exclusive pieces created in collaboration with Verizon.
    • The official “House of Verizon” late night party with food, drinks and featuring sounds by Chase B. 

    Saturday, February 8

    • Designer and entrepreneur Kristin Juszczyk will participate in a special styling session featuring pieces from the recently announced ‘Off Season’ NFL Collection, which will be on display on Saturday at the “House of Verizon” retail shop.
    • Chef & creator, Tineke “Tini” Younger, will host a brunch where she’ll be creating and cooking special Super Bowl LIX recipes, meeting with customers & fans, and showcasing how to create her unique, custom tailgate dishes for the ultimate party.
    • Special invite-only event in partnership with TAO, with performances by GRAMMY® Award-winning artist, entrepreneur and global cultural icon T-Pain, GRAMMY®-nominated artist Doechii, renowned artist Jermaine Dupri, and musical sets by Chase B.

    Sunday, February 9

    • “House of Verizon” will transform into a special New Orleans FanFest event for fans to watch the big game, have food and drinks from local small businesses, meet NFL legends and cheer on their favorite team.

    On Super Bowl Sunday, Verizon is hosting the first-ever Super Bowl FanFest to host tens of thousands of customers and fans – bringing the Super Bowl LIX experience to stadiums and iconic venues in 30 cities across the country. Each FanFest is going to be a unique, elevated experience—catering to a limited group of customers that secured coveted tickets for themselves and their guests. To score any limited tickets that may be left to the highly-coveted FanFests, visit VerizonFanFest.com and for more information on all of Verizon’s Super Bowl LIX news, visit verizon.com/about/news/superbowl. 

    MIL OSI Economics –

  • MIL-OSI Economics: Verizon Frontline delivering 5G connectivity to New York State Police cruisers

    Source: Verizon

    Headline: Verizon Frontline delivering 5G connectivity to New York State Police cruisers

    ALBANY, N.Y. – Verizon Frontline today announced it will provide 5G connectivity across the New York State Police’s fleet of vehicles through the activation of more than 1,800 lines of service.

    The applications and capabilities enabled by the high-speed, low latency and massive capacity provided by mobile broadband will help the troopers of the New York State Police more safely and efficiently perform their duties while deployed across the state.

    Mobile broadband in New York State Police cruisers will provide 5G connectivity and speed to:

    • Mobile Data Terminals (MDTs) and associated law enforcement applications
    • Global Positioning System (GPS) applications
    • Radios
    • Wireless Printers/Scanners
    • License Plate Readers
    • Mobile and Fixed Camera Systems
    • Sensors

    These are just some examples of how the New York State Police will leverage mobile broadband in their “connected cruisers” to help improve operational efficiency as they work to achieve their mission of “ensuring the safety of the state’s roadways, preventing and investigating crime, preparing for and responding to emergencies and disasters and providing support to other law enforcement agencies.”

    Connecting their cruiser fleet with 5G speed and reliability is just one of the many ways in which the New York State Police are demonstrating their continued commitment to innovation and modernization in effectively solving and preventing crime.

    Verizon Frontline is the advanced network and technology built for first responders – developed over more than three decades of partnership with public safety agencies on the front lines – to meet their unique and evolving needs.

    MIL OSI Economics –

  • MIL-OSI Economics: Thales Alenia Space to develop the payload for the third satellite of the Copernicus CO2M mission

    Source: Thales Group

    Headline: Thales Alenia Space to develop the payload for the third satellite of the Copernicus CO2M mission

    The Copernicus CO2M mission will meet the European Union’s high-priority requirements to measure atmospheric carbon dioxide produced by human activity

    Brussels, January 28, 2025 – Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), has signed an amendment to its CO2M contract, worth 88 million euros, with the space segment prime contractor OHB System. This amendment provides for the development of the payload for the third satellite in the CO2M Copernicus mission, in addition to the first two satellites payloads that are currently under integration. Copernicus is the Earth observation component of the European Union’s Space Programme. It provides accurate, timely and easily accessible information to improve the management of the environment, understand and mitigate the effects of climate change and ensure civil security for the benefit of all European citizens. The CO2M mission as part of the Copernicus Programme is developed by the European Space Agency with a co-funding made by the European Union and the European Space Agency.

    CO2M ©OHB

    The signature of this amendment marks a significant milestone in the pursuit of the CO2M mission to develop a European anthropogenic greenhouse gas monitoring capability. Following the awarding of the CO2M contract in 2020 for the development of the first two satellites of this mission, ESA has renewed its confidence in OHB System and Thales Alenia Space to provide a third satellite and payload. With this additional satellite, the CO2M constellation will further consolidate its operations, while enhancing the accuracy of CO2 measurements thanks to greater repeatability of acquisitions (more than 3 times a week at European latitudes).

    The goal of the CO2M mission is to measure human-induced atmospheric carbon dioxide (and methane). These measurements will reduce current uncertainties in estimates of emissions of carbon dioxide from the combustion of fossil fuels at sub-continental scales. This will provide the European Union with a unique and independent source of information to assess the effectiveness of public policies, and to track their impact on decarbonizing Europe and meeting national emissions reduction targets.

    “We are proud to pursue the development of the Copernicus CO2M mission alongside the European Commission, ESA and OHB System,” said Hervé Derrey, CEO of Thales Alenia Space. “The CO2M mission is unique and marks an important milestone in European leadership with regards to climate change and greenhouse gases reduction. Thales Alenia Space will continue to bring its flight-proven Earth Observation expertise to this mission, which is essential to meeting the ambitious goal of measuring atmospheric carbon dioxide produced by human activities.”

    Each CO2M satellite’s payload includes three instruments:

    • A combined CO2/NO2 (carbon dioxide/nitrogen dioxide) instrument based on a near-infrared and shortwave-infrared spectrometer provided by Thales Alenia Space in France;
    • A Multi-Angle Polarimeter (MAP) based on four identical cameras, contained in a dedicated optical unit, provided by Thales Alenia Space in France;
    • A Cloud Imager (CLIM), derived from the flight-proven Proba-V instrument, provided by OIP Sensor Systems in Belgium.

    CO2M will measure images of atmospheric columns of CO2 with the resolution, accuracy, time sampling and spatial coverage required to provide the key space component inputs of the Operational Anthropogenic CO2 Emissions Monitoring & Verification Support (MVS) Capacity.

    The atmospheric measurements made by the combination of satellites and in-situ networks, especially CO2M, will provide Europe with a unique operational capability that will contribute to the global monitoring of fossil CO2 emissions[1], meaning CO2 emissions arising from anthropogenic activities, add carbon in the climate system with a huge impact on climate change.

    More about industrial contributions

    As prime contractor, OHB System is leading an industrial consortium including Thales Alenia Space and OIP Sensors to build the CO2M instruments. Thales Alenia Space in France is responsible for developing the CO2/NO2 Instruments and Multi-angular Polarimeters for the CO2M satellites. Thales Alenia Space in Spain will provide the S-band transponder (SBT) and the Instrument Control Unit (ICU), Thales SESO will provide key optical elements of the CO2/NO2 spectrometers (collimator mirrors and imagers optics), and Thales Alenia Space in Switzerland the telescope of the CO2/NO2 instrument.

     

    [1] Sum of CO2 emissions from fossil fuel combustion, process CO2 emissions from cement production, process CO2 emissions from metal (ferrous and non-ferrous) production, CO2 emissions from urea production, urea application and agricultural lime, emissions from the combustion of biofuel (carbon-neutral over one year) and from land use, land-use change and forestry (including large-scale biomass burning of forest or peat fires).

    ABOUT THALES ALENIA SPACE

    Drawing on over 40 years of experience and a unique combination of skills, expertise and cultures, Thales Alenia Space delivers cost-effective solutions for telecommunications, navigation, Earth observation, environmental management, exploration, science and orbital infrastructures. Governments and private industry alike count on Thales Alenia Space to design satellite-based systems that provide anytime, anywhere connections and positioning, monitor our planet, enhance management of its resources, and explore our Solar System and beyond. Thales Alenia Space sees space as a new horizon, helping to build a better, more sustainable life on Earth. A joint venture between Thales (67%) and Leonardo (33%), Thales Alenia Space also teams up with Telespazio to form the parent companies’ Space Alliance, which offers a complete range of services. Thales Alenia Space posted consolidated revenues of approximately €2.2 billion in 2023 and has around 8,600 employees in 8 countries, with 16 sites in Europe.

    MIL OSI Economics –

  • MIL-OSI Economics: Discovering the deepest secrets of Venus planet with EnVision mission

    Source: Thales Group

    Headline: Discovering the deepest secrets of Venus planet with EnVision mission

    Thales Alenia Space has signed a contract with the European Space Agency to build the EnVision spacecraft that will unveil Venus’ deepest mysteries

    •           As prime contractor, Thales Alenia Space will be responsible for the entire satellite, which will host five scientific instruments as well as a radio science experiment.

    •           The EnVision mission will provide a holistic view of the planet, from its inner core to the upper atmosphere, in order to determine how and why Venus and Earth evolved so differently.

    •           The EnVision mission will benefit not only from the long-standing cooperation between ESA, its member states and NASA, but also from the combined technical and scientific expertise of Europe and the USA in Venusian exploration.

    Brussels, January 28th, 2025 – Thales Alenia Space, a joint venture between Thales (67%) and Leonardo (33%), has signed a contract with the European Space Agency (ESA) worth a total of 367 million Euros, for the supply of a satellite for ESA’s EnVision mission to Venus. EnVision will embark five scientific instruments and a radio science experiment, to be carried out by the respective space agencies taking part in this exciting mission: the Italian Space Agency(ASI), the American space agency (NASA), the French space agency (CNES), the German aerospace research and technology centre (DLR) and the Belgian Science Policy Centre (BELSPO).

    EnVision ©Thales Alenia Space_E.Briot 

    Venus and Earth: two “twin planets” that are so different

    Some 20 years after the first European mission to Venus (Venus Express), EnVision’s goal is to explore this planet accurately and systematically from its inner core to the upper layers of the atmosphere, analysing its interaction with the surface. The intention is to provide an integrated view of Venus, studying its history, activity and climate in an attempt to better understand why Earth’s ‘twin’ planet, so similar in size and distance from the sun, is so different and uninhabitable today. EnVision is scheduled for launch in November 2031.

    As the prime contractor, Thales Alenia Space will be responsible for the entire satellite, hosting five scientific instruments and an ultra-stable oscillator to perform radio science experiments.

    “I wanted to sincerely thank the European Space Agency for putting its trust in our company,” Thales Alenia Space CEO Hervé Derrey said. “Thales Alenia Space took part to iconic space exploration and science interplanetary missions across the solar system, including Mars with ExoMars, Mercury with BepiColombo, the Sun with Solar Orbiter, asteroids and comets with Rosetta-Philae, Saturn with Cassini-Huygens, and tomorrow the Moon with Artemis, not to mention Euclid that will explore dark energy and dark matter to better understand the origin of the Universe’s accelerating expansion. This stunning mission will be a new step toward better understanding the deepest secrets of Venus, emphasizing in particular the many similarities and differences that exist between the Earth and the planet Venus, which is 41 million kilometers away from ours.”

    “We are extremely proud to announce our contribution to ESA’s EnVision mission in partnership with NASA, 20 years after the historic Venus Express mission. This new initiative, which follows on from the extraordinary BepiColombo and ExoMars 2016 missions, represents a significant milestone for the industry as well as for space research,” said Giampiero Di Paolo, Deputy CEO and Senior Vice President, Observation, Exploration and Navigation at Thales Alenia Space. “The EnVision mission, involving major international partners, is an ambitious program that will help us unravel the mysteries of the evolution of Venus, a planet so similar to Earth in many respects, but at the same time so different. With our experience and commitment, we are determined to support this crucial planetary mission, which promises to further our knowledge of our solar system.”

    “We are thrilled to partner with Thales Alenia Space on this ground-breaking new mission to Venus – said ESA Science Director, Prof. Carole Mundell – No other mission has ever attempted such a comprehensive investigation of our remarkably inhospitable neighbour. EnVision will answer fundamental questions about how a planet becomes habitable – or the opposite.”

    About the aerobraking phase:

    The entry into orbit around Venus will include an aerobraking phase lasting several months, during which the orbit will be progressively circularised thanks to the friction of the satellite’s surfaces with the planet’s atmosphere. This will be a particularly delicate phase for the stability and temperature of the satellite. This will be followed by the actual scientific observation phase, which is expected to last about 6 Venusian years, corresponding to 4 Earth years.

    Thanks to its consolidated experience as prime contractor on complex scientific missions, the last of which was Euclid, Thales Alenia Space will draw in particular on the aerobraking experience gained with ExoMars’ Trace Gas Orbiter in 2016.

    ESA has authorised the next phases up to the spacecraft in-orbit commissioning around Venus. An important upcoming milestone will be the spacecraft system requirements review in 2025. In parallel, the selection of the industrial team will be completed and full authorisation to proceed with Phase C/D is expected in June 2026.

    Thales Alenia Space leading the industrial consortium:

    As prime contractor, Thales Alenia Space will be responsible for the entire satellite, featuring 5 scientific instruments and an ultra-stable oscillator to perform radio science experiments, provided by ESA Member States and NASA, in further detail:

    •           VenSAR (Venus Synthetic Aperture Radar)

    •           VenSpec suite (spectrometer suite) consisting of:

                   – VenSpec-H (High-Resolution Infrared Spectrometer)

                   – VenSpec-U (Ultraviolet Spectral Imager)

                   – VenSpec-M (Near-Infrared Mapping Spectrometer) and Central Control Unit (CCU)

    •           Subsurface Radar Sounder (SRS)

    •           Radio Science Experiment (RSE)

    For the spacecraft Thales Alenia Space in Italy selected an Industrial Core Team composed of OHB, responsible for the mechanical, thermal, and propulsion subsystem, and Thales Alenia Space in France in charge of the Attitude and Orbit Control Subsystem (AOCS) and aerobraking analysis.

    About the EnVision mission 

    The EnVision mission is dedicated to the study of Venus and was adopted in 2024 by ESA’s Science Programme Committee as the 5th medium-class mission within the Agency’s Cosmic Vision plan. 

    EnVision is an ESA-led mission in partnership with NASA that provides Synthetic Aperture Radar (VenSAR) and Deep Space Network support for mission-critical phases.

    EnVision will reach Venus after a 15-month cruise. After its arrival, the orbiter will spend about a year aerobraking through Venus’ atmosphere to gradually reach its scientific orbit, a near low-polar orbit of Venus, at an altitude of 220 to 540 km and with an orbital period of approximately 94 minutes.

    ABOUT THALES ALENIA SPACE

    Drawing on over 40 years of experience and a unique combination of skills, expertise and cultures, Thales Alenia Space delivers cost-effective solutions for telecommunications, navigation, Earth observation, environmental management, exploration, science and orbital infrastructures. Governments and private industry alike count on Thales Alenia Space to design satellite-based systems that provide anytime, anywhere connections and positioning, monitor our planet, enhance management of its resources, and explore our Solar System and beyond. Thales Alenia Space sees space as a new horizon, helping to build a better, more sustainable life on Earth. A joint venture between Thales (67%) and Leonardo (33%), Thales Alenia Space also teams up with Telespazio to form the parent companies’ Space Alliance, which offers a complete range of services. Thales Alenia Space posted consolidated revenues of approximately €2.2 billion in 2023 and has around 8,600 employees in 8, countries with 16 sites in Europe.

    MIL OSI Economics –

  • MIL-OSI Economics: Microsoft is celebrating its 50-year anniversary. Check out our press pack, history timeline and more

    Source: Microsoft

    Headline: Microsoft is celebrating its 50-year anniversary. Check out our press pack, history timeline and more

    Frequently asked questions

    How is the company celebrating its 50th anniversary? 

    Microsoft is commemorating our 50-year anniversary by celebrating the achievements of our employees, customers, and partners that have dreamt, built, and used Microsoft technology as a force for good, while also looking ahead to the future. 

    Microsoft recognizes that our success and growth globally would not have been possible without the support of the place we call home, the Puget Sound. We are honoring and awarding 50 local changemakers with $50,000 grants each to support the important work they do to address the needs of the region. Read more about the One Future, One Sound initiative. 

    What were Microsoft’s biggest accomplishments over the last 50 years? 

    Over the past five decades, Microsoft has driven innovation that has transformed the way that society uses technology both at work and at home, from revolutionizing personal computing with MS-DOS and Windows, and bringing the joy and community of gaming to everyone on the planet with Xbox, to driving the future of cloud computing with Azure, and AI transformation with Copilot and our AI platform. We are proud of our employees, past and present, who have seized the opportunity to reinvent our company as tech paradigms shift, to stay relevant and earn the trust of our customers and partners. 

    For more information on the company’s key milestones, explore this timeline of Microsoft’s journey. 

    How has the company’s mission evolved? 

    The heart of Microsoft’s mission has always been about empowering people through technology, and this will continue as we look to the future.  

    In its beginnings, Bill Gates and Paul Allen articulated an ambitious vision for Microsoft and the industry, “a computer on every desk and in every home.” In 2002, the mission changed “to enable people and businesses throughout the world to realize their full potential,” which was later expanded to include creating technology that transforms the way people learn, work, play, and communicate. In 2015, CEO Satya Nadella evolved Microsoft’s mission “to empower every person and every organization on the planet to achieve more.” 

    What has Microsoft learned over the past 50 years that drives the company today? 

    As a platform company, we’ve learned that we do well when the world does well. That is embodied in our mission, our business model, our practices and our culture. Our cultural journey is ongoing and adaptive, and over the last decade, we’ve grounded ourselves in a Growth Mindset culture. Internally, this has helped our employees embrace challenges, be curious, learn from failures, and continuously seek improvement. Externally, this cultural transformation has enabled Microsoft to better understand and meet our customers’ needs and work to earn their trust every day. 

    We also believe deeply in the power of partnership and that no one person, company, or government can solve the world’s problems alone. This insight drives Microsoft’s approach to partnerships, collaboration, openness, and transparency, rooted in bringing people and organizations together to tackle challenges.  

    What is Microsoft focused on for the next 50 years? 

    As we look to the future, our mission remains to empower every person and organization, and our success hinges on how we harness AI and other technologies to amplify human achievement and create positive change for society.  

    The innovations we’re developing today will define the next five decades. And we remain focused on translating innovation into enduring value for our customers.   

    We are also recommitting ourselves to the framework that has made us successful – investing in our people, living up to our mission, earning the trust of our customers and the countries we operate in, innovating responsibly, prioritizing fundamentals with security above all else, and building products where the world can benefit.

    MIL OSI Economics –

  • MIL-OSI Economics: The value of AI: How Microsoft’s customers and partners are reinventing how they do business today

    Source: Microsoft

    Headline: The value of AI: How Microsoft’s customers and partners are reinventing how they do business today

    Organizational leaders in every industry around the world are evaluating ways AI can unlock opportunities, drive pragmatic innovation and yield value across their business. At Microsoft, we are dedicated to helping our customers accelerate AI Transformation by empowering human ambition with Copilots and agents, developing differentiated AI solutions and building scalable cybersecurity foundations. At Microsoft Ignite we made over 100 announcements that bring the latest innovation directly to our customers and partners, and shared how Microsoft is the only technology leader to offer three distinct AI platforms for them to build AI solutions:

    1. Copilot is your UI for AI, with Copilot Studio enabling low-code creation of agents and extensibility to your data.
    2. Azure AI Foundry is the only AI app server for building real-world, world-class, AI-native applications.
    3. Microsoft Fabric is the AI data platform that provides one common way to reason over your data —no matter where it lives.

    All three of these platforms are open and work synchronously to enable the development of modern AI solutions; and each is surrounded by our world-class security offerings so leaders can move their AI-first strategies forward with confidence.

    As we look ahead to what we can achieve together, I remain inspired by the work we are doing today. Below are a handful of the many stories from the past quarter highlighting the differentiated AI solutions our customers and partners are driving to move business forward across industries and realize pragmatic value. Their success clearly illustrates that real results can be harnessed from AI today, and it is changing the way organizations do business.

    To power its industrial IoT and AI platform, ABB Group leveraged Microsoft Azure OpenAI Service to create Genix Copilot: a generative AI-powered analytics suite aimed at solving some of the most complex industrial problems. The solution helps customers analyze key functions in their operations —such as asset and process performance, energy optimization and emission monitoring — with real-time operational insights. As a result, customers are seeing up to 35% savings in operations and maintenance, and up to 20% improvement in energy and emission optimization. ABB also saw an 80% decrease in service calls with the self-service capabilities of Genix Copilot.

    Serving government healthcare agencies across the US, Acentra Health turned to Microsoft to help introduce the latest AI capabilities that maximize talent and cut costs in a secure, HIPAA-compliant manner. Using Azure OpenAI Service, the company developed MedScribe — an AI-powered tool reducing the time specially trained nursing staff spend on appeal determination letters. This innovation saved 11,000 nursing hours and nearly $800,000, reducing time spent on each appeal determination letter by about 50%. MedScribe also significantly enhanced operational efficiency, enabling nurses to process 20 to 30 letters daily with a 99% approval rate.

    To ease challenges for small farmers, Romanian agribusiness group Agricover revolutionized access to credit by developing MyAgricover. Built with help from partner Avaelgo, the scalable digital platform utilizes Microsoft Azure, Azure API Management and Microsoft Fabric to automate the loan process and enable faster approvals and disbursements. This has empowered small farmers to grow their businesses and receive faster access to financing by reducing loan approval time by 90 percent — from 10 working days to a maximum of 24 hours.

    Building on its status as a world-class airline with a strong Indian identity, Air India sought ways to enhance customer support while managing costs. By developing AI.g, one of the industry’s first generative AI virtual assistants built on Azure OpenAI Service, the airline upgraded the customer experience. Today, 97% of customer queries are handled with full automation, resulting in millions of dollars of support costs saved and improved customer satisfaction — further positioning the airline for continued growth.

    BMW Group aimed to enhance data delivery efficiency and improve vehicle development and prototyping cycles by implementing a Mobile Data Recorder (MDR) solution with Azure App Service, Azure AI and Azure Kubernetes Service (AKS). The solution achieved 10 times more efficient data delivery, significantly improved data accessibility and elevated overall development quality. The MDR monitors and records more than 10,000 signals twice per second in every vehicle of BMW’s fleet of 3,500 development cars and transmits data within seconds to a centralized cloud back end. Using Azure AI Foundry and Azure OpenAI Service, BMW Group created an MDR copilot fueled by GPT-4o. Engineers can now chat with the interface using natural language, and the MDR copilot converts the conversations into KQL queries, simplifying access to technical insights. Moving from on-premises tools to a cloud-based system with faster data management also helps engineers troubleshoot in real time. The vehicle data covered by the system has doubled, and data delivery and analysis happen 10 times faster.

    Coles Group modernized its logistics and administrative applications using Microsoft Azure Stack HCI to scale its edge AI capabilities and improve efficiency and customer experience across its 1,800 stores. By expanding its Azure Stack HCI footprint from two stores to over 500, Coles achieved a six-fold increase in the pace of application deployment, significantly enhancing operational efficiency and enabling rapid innovation without disrupting workloads. The retailer is also using Azure Machine Learning to train and develop edge AI models, speeding up data annotation time for training models by 50%.

    Multinational advertising and media company Dentsu wanted to speed time to insights for its team of data scientists and media analysts to support its media planning and budget optimization. Using Microsoft Azure AI Foundry and Azure OpenAI Service, Dentsu developers built a predictive analytics copilot that uses conversational chat and draws on deep expertise in media forecasting, budgeting and optimization. This AI-driven tool has reduced time to media insights for employees and clients by 90% and cut analysis costs.

    To overcome the limitations of its current systems, scale operations and automate processes across millions of workflows, Docusign created the Intelligent Agreement Management (IAM) platform on Azure. Using Azure AI, Azure Cosmos DB, Azure Logic Apps and AKS, the platform transforms agreement data into actionable insights to enhance productivity and accelerate contract review cycles. IAM also ensures better collaboration and unification across business systems to provide secure solutions tailored to diverse customer needs. For example, its customer KPC Private funds reported a 70% reduction in time and resources dedicated to agreement processes.

    Emirates Global Aluminium (EGA) transformed its manufacturing operations by leveraging a hybrid environment with Azure Arc, Azure Stack HCI and Azure Kubernetes Service. This digital manufacturing platform resulted in 86% cost savings for AI image and video analytics and a 13-fold improvement in AI response times. The seamless hybrid cloud architecture has enhanced EGA’s operational efficiency and agility, supporting its Industry 4.0 transformation strategy.

    EY collaborated with Microsoft to enhance the inclusivity of AI development using Azure AI Studio. By involving neurodivergent technologists from EY’s Neuro-Diverse Centers of Excellence, they improved the accessibility and productivity of AI tools, resulting in more inclusive AI solutions, fostering innovation and ensuring that AI tools unlock the potential of all users. With an estimated 20% of the global workforce identifying as neurodivergent, inclusive AI solutions are crucial for maximizing creativity and productivity. Neurodivergent EY technologists also collaborated with Microsoft developers to make Azure AI Foundry more inclusive and help all users work productively to create innovative AI solutions.

    Colombian household appliance manufacturer Haceb integrated AI to optimize processes, reduce costs and improve service quality. Using Microsoft Copilot Studio and Azure OpenAI Service, the company created a virtual technical support assistant, saving its 245 technicians 5 minutes per visit — a total of 5,000 minutes saved daily. This AI solution has enhanced efficiency and boosted customer satisfaction by allowing for faster issue resolution. Haceb’s AI adoption has also empowered employees, boosted productivity and positioned the company as a leader in AI innovation in Colombia.

    To better serve its global patients, Operation Smile — in collaboration with partner Squadra — leveraged Azure AI, Machine Learning and Microsoft Fabric to develop an AI-powered solution to predict surgical outcomes and optimize resource allocation. This innovation resulted in a 30% increase in surgical efficiency, a 90% reduction in translation errors and improved patient outcomes. Additionally, report generation is now up to 95% quicker, and repeated medical events have decreased by 15%, enabling Operation Smile to provide better care to more children worldwide.

    Ontada — a McKesson business dedicated to oncology data and evidence, clinical education and point-of-care technologies — needed a way to generate key insights across 150 million unstructured oncology documents. Using Microsoft Azure AI and Azure OpenAI Service, Ontada developed a data platform solution called ON.Genuity to provide AI-driven insights into the patient journey, enhance patient trial matching and identify care gaps. The company also implemented large language models to target nearly 100 critical oncology data elements across 39 cancer types, enabling the company to analyze an estimated 70% of previously inaccessible data, reduce processing time by 75% and accelerate product time-to-market from months to just one week.

    As the UK’s largest pet care company, Pets at Home sought a way to combat fraud across its retail operations — particularly as its online business continued to grow. Working closely with its fraud team, it adopted Copilot Studio to develop an AI agent that quickly identifies suspicious transactions. The agent autonomously gathers relevant information, performs analysis and shares it with a fraud agent to enable a manual, data-intensive investigative process while ensuring a human remains in the loop. With this low-code agent extending and seamlessly integrating into existing systems, the company’s fraud department can act more quickly; what used to take 20 to 30 minutes is now handled by the AI agent within seconds. The company is identifying fraud 10 times faster and is processing 20 times more cases a day. Now, the company can operate at scale with speed, efficiency and accuracy — with savings expected to be in the seven figures as it continues to build more agents.

    Revenue Grid, a technology company specializing in sales engagement and revenue optimization solutions, partnered with Cloud Services to modernize its data infrastructure and develop a unified data warehouse capable of handling unstructured, semi-structured and structured data. By migrating to Microsoft Fabric, Revenue Grid can now deliver data-powered revenue intelligence, driven by a unified platform, elastic scalability, enhanced analytics capabilities and streamlined operations. Revenue Grid has reduced infrastructure costs by 60% while enhancing its analytical capabilities to improve real-time data processing, empowering sales teams with accurate and diverse data. 

    To better manage and integrate employee data across diverse regions and systems, UST built a comprehensive Employee Data platform on Microsoft Fabric. In under a year, UST migrated 20 years of employee data with all security measures to enhance data accessibility and employee productivity. The Meta Data Driven Integration (MDDI) framework in Fabric also helped the company cut data ingestion time by 50% so employees can focus more on analysis than preparation. As a result of this implementation, the company has seen an increase in collaboration and innovation from employees, helping put its values into action.

    The Microsoft Commercial Marketplace offers millions of customers worldwide a convenient place to find, try and buy software and services across 140 countries. As a Marketplace partner, WeTransact is helping independent software vendors (ISVs) list and transact their software solutions — and find opportunities for co-selling and extending their reach to enterprise customers through development of the WeTransact platform. Powered by Azure OpenAI Service, the platform is changing the way partnerships are being built by using AI pairing to facilitate a “plug and play” reseller network. More than 300 ISVs worldwide have joined the Microsoft Commercial Marketplace using the WeTransact platform, cutting their time to publish by 75%.

    The opportunity for AI to create value is no longer an ambition for the future — it is happening now, and organizational leaders across industries are investing in AI-first strategies to change the way they do business. We believe AI should empower human achievement and enrich the lives of employees; and we are uniquely differentiated to help you accelerate your AI Transformation responsibly and securely. Choosing the right technology provider comes down to trust, and I look forward to what we will achieve together as we partner with you on your AI journey.

    Tags: AI, Azure, Azure AI, Azure AI Foundry, Azure AI Studio, Azure Arc, Azure OpenAI Service, Azure Stack HCI, Copilot, Copilot Studio, Microsoft Fabric, Microsoft Ignite 2024

    MIL OSI Economics –

  • MIL-OSI Economics: VITARA Reference Guide: The Audit Program

    Source: International Monetary Fund

    Summary

    This VITARA Reference Guide provides a solid understanding of audit as a key tool available to a tax administration to promote and enforce compliance. The guide explains international good practices in designing and managing an effective audit program including the necessary legal powers, audit-related organization, and governance arrangements as well as the staff expertise and resources needed for audit and auditor performance evaluation. It focuses on practical issues such as how audit cases are selected, the different types and scope of audit, and audit methods that are available to staff. It also discusses the concepts of audit integrity, audit quality assurance, and the Random Audit Program as well as electronic audit tools and how they can be used in conducting audits. A potential annual operational performance dashboard that can be implemented to allow program monitoring throughout the fiscal year is also included. Finally, the guide highlights the key components of an audit process.

    Keywords: Audit, Audit program, Compliance, Compliance risk management, Revenue, Revenue administration, Revenue mobilization, Tax, Tax administration

    MIL OSI Economics –

  • MIL-OSI Economics: IPAA Announces Michael Hillebrand as New Board Chairman 

    Source: Independent Petroleum Association of America

    Headline: IPAA Announces Michael Hillebrand as New Board Chairman 

    Jan 28, 2025 IPAA Announces Michael Hillebrand as New Board Chairman 

    Posted at 09:53h in Press Releases by

    IPAA Board Appoints Hillebrand, Huntley & Huntley CEO, as Chairman for 2024-2026 Term 

    WASHINGTON – The Independent Petroleum Association of America (IPAA) board of directors are pleased to announce Michael “Mike” A. Hillebrand, the chief executive officer of Pennsylvania-based Huntley & Huntley, as board chairman for a two-year term through 2026. IPAA advocates for thousands of oil and natural gas producers that develop 90 percent of wells nationwide. The IPAA board approved Hillebrand at the association’s annual meeting in late fall, and Hillebrand officially assumed the role this month.

    “Mike brings fantastic business and technical expertise to the role of chairman, coupled with a passion for industry and association advocacy,” said Jeff Eshelman, IPAA president and chief executive officer. “Past-chairman Steve Pruett, the president and chief executive officer of Elevation Resources, has been invaluable in expanding IPAA’s reach in Texas and the Permian Basin. I look forward to working with Mike on deepening our roots and relationships in my home state of Pennsylvania and throughout the Appalachian Basin formations.”

    Hillebrand is a principal shareholder and chief executive officer of one of the world’s oldest and continuously existing oil and gas companies, Huntley & Huntley (founded in 1912), the founder, shareholder, and board member of its institutional joint venture, Olympus Energy, the fifth largest shale producer in southwestern Pennsylvania. Mr. Hillebrand has thirty-nine years of combined experience in both vertical and horizontal well drilling, completions, and operations, as well as all operating and financial aspects of oil and natural gas business development, assembly and acquisition, and marketing.

    He has played a key leadership role in securing over $1.1 billion of capital funding and/or commitments into several of Huntley’s affiliated companies. One of those companies, Olympus Energy, now operates nearly 100,000 acres and in one of SW Pennsylvania’s last undeveloped core Marcellus, deep Utica and Upper Devonian unconventional shale positions, now producing over 600 mmcf/d.

    Mr. Hillebrand is a graduate of the Pennsylvania State University with a Bachelor of Science degree in Petroleum and Natural Gas Engineering. He is member of the Society of Petroleum Engineers (SPE) and the current Chairman of the Pennsylvania Independent Oil and Gas Association (PIOGA).

    For the full IPAA Board of Directors, visit https://www.ipaa.org/board-of-directors/

    ###

    MIL OSI Economics –

  • MIL-OSI Economics: Samsung Names 50 U.S. Schools as State Winners in the Solve for Tomorrow STEM Competition, Vying for a Share of $2 Million in Prizes

    Source: Samsung

    Gen Z and Gen Alpha students across the nation have accepted the challenge to boldly solve pressing community issues using STEM (Science, Technology, Engineering, and Mathematics). Today, Samsung Electronics America announced that 50 U.S. public middle and high schools are moving forward as State Winners in the 15th annual Samsung Solve for Tomorrow national STEM competition. Each of these schools has been awarded a $12,000 Samsung technology prize package, including a Samsung Video Kit to showcase their proposed STEM solution. The full list of State Winners can be viewed at Samsung.com/Solve.
    “Congratulations to all the incredible State Winners in the 2024-2025 Samsung Solve for Tomorrow competition,” said Allison Stransky, Chief Marketing Officer, Samsung Electronics America. “Solve for Tomorrow was born from Samsung’s deep belief in the power of STEM to improve lives and transform communities. It’s truly inspiring to see these bright Gen Z and Gen Alpha innovators harnessing emerging technologies, with nearly half of their STEM solutions incorporating AI, to address critical societal issues with creativity, determination, and purpose.”

    By combining problem-based learning(PBL), STEM disciplines, social impact entrepreneurship, and environmental stewardship, Samsung Solve for Tomorrow engages middle and high school students to drive meaningful societal progress. Through hands-on, real-world experiences, the competition inspires young minds to see STEM as a pathway to becoming changemakers and pursuing fulfilling, impactful careers. The State Winner honor marks a key milestone toward the ultimate prize—being named one of three National Winners, each unlocking $100,000 for their school. Overall, Samsung will award more than $2 million* in prizes to this year’s participating schools.
    Ingenuity & Empathy Drive Gen Z & Gen Alpha STEM Solutions
    Samsung Solve for Tomorrow State Winners are redefining STEM’s potential—not as a field reserved for those attending elite institutions, but as a universal tool for solving real-world problems. Impressively, 58% of the State Winners represent Title 1 schools, aligned with Samsung’s commitment to bringing equitable STEM opportunities to underrepresented communities. Among the State Winners are several all-girl teams breaking barriers in traditionally male-dominated fields, while 48% of teams are from middle schools, showing Gen Alpha’s early passion for innovation and social good.

    The competition also provides a unique glimpse into the priorities of America’s Gen Alpha and Gen Z.  As a group, the State Winners are most concerned with environmental sustainability and climate disasters (28%), public health (26%), and accessibility (20%), followed by public safety and mental health. The student team from Oklahoma is using drones and AI to predict and manage wildfire risks, providing real-time data to firefighters and helping mitigate the devastating effects of climate events. In Arkansas, another school is addressing oral cancer detection by developing an AI-powered mobile app for affordable, non-invasive screenings, making early detection more accessible in rural areas and addressing public health disparities.
    “These 50 State Winners are recasting the role of STEM in solving matters close to their lives and their communities,” said Salman Taufiq, Head of Brand Marketing, Samsung Electronics America. “By addressing real-world issues with empathy and advanced technology like AI, machine learning, drones, and virtual reality, they’re preparing to lead in a rapidly evolving, impact-focused workforce.”
    The competing entries are embracing cutting-edge technologies like AI (42%), 3D printing (34%), and robotics (14%) to bring their ideas to life. Mississippi’s State Winner is developing an AI-driven app that uses biometric sensors to detect the early signs of anxiety in students with autism, giving them and their teachers real-time alerts to help prevent panic attacks. Meanwhile, Nevada’s team are designing a low-cost, fully recyclable modular prosthetic arm using 3D printing, enabling a classmate with a partial arm amputation to participate fully in orchestra performances.

    Innovation & Mentorship Power Next Phase of Competition
    For the next phase of the competition, State Winners will receive a $12,000 prize package, including a Samsung Video Kit consisting of a Galaxy Book and a Galaxy Z Flip to help create a three-minute STEM solution pitch video. The video must demonstrate how STEM is being applied to address the community issue outlined in the student teams’ Activity Plans. State Winners must submit their videos by the deadline of Thursday, March 6, 2025, at 11:59 p.m. ET. Judges will review the submissions to select 10 National Finalists, who will be announced in mid-March and are invited to participate in a live pitch event in April 2025.
    Samsung employees will once again serve as one-on-one mentors to the State Winners, guiding student teams through project development and prototype building. Using their professional expertise, mentors will also help teams create compelling video pitches for their STEM solutions to advance to the National Finalist phase.

    National FinalistsBased on their State Winner pitch videos, 10 National Finalists will be chosen to participate in a live pitch event and present their project to a panel of judges. Seven of these schools will be awarded $50,000 in Samsung technology and classroom supplies.
    National WinnersBased on the live pitch presentations, judges will name three National Winners, each earning a $100,00 prize package.
    From the 50 State Winners, one school will be selected for the Rising Entrepreneurship Award, receiving an added $25,000 prize package to nurture and develop their STEM solution into a venture extending beyond the competition.
    One of the 50 State Winner schools will be recognized with a Sustainability Innovation Award for driving sustainable change through STEM innovation, and an additional $25,000 prize package, including Samsung ENERGY STAR® technology.
    From the National Finalists, one Community Choice Winner, selected through online voting by the general public, will receive an additional $10,000 in prizes on top of their National Finalist winnings.
    One Employee Choice Winner will be chosen by Samsung employees from among the National Finalists to receive $10,000 in prizes in addition to their National Finalist winnings.
    *$2 million prize is based on an estimated retail value.

    MIL OSI Economics –

  • MIL-OSI Economics: “Risks in Focus 2025” – Climate change, geopolitics and a weak economy could put pressure on Germany’s financial system

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    In 2025, companies in the German financial sector should ensure that their risk management incorporates more comprehensive Information on the consequences of climate change. According to BaFin, physical risks such as extreme weather or natural disasters in the form of major fires, droughts or floods could have a much greater impact on banks’ loan portfolios and insurers’ loss amounts in future.
    In this year’s “Risks in Focus”, BaFin describes these increasing physical risks as a relevant trend for the financial sector. At a press conference to mark the publication, BaFin President Mark Branson explained: “The environment in which companies in the financial sector have to operate is highly challenging because, for many risk drivers – such as climate change, geopolitical upheavals and quantum leaps in technological progress – we lack relevant historical experience. This makes it all the more important for companies in the financial sector to think in terms of scenarios, manage risks wisely and prepare themselves for potential shocks with well-stocked capital and liquidity buffers.”

    In 2025, BaFin will focus particularly on six risks

    In its outlook on risks, BaFin explains at the beginning of each year where the financial system in Germany is particularly vulnerable and which risks are most capable of jeopardising financial stability or the integrity of German financial markets. BaFin also highlights what it considers to be relevant trends that companies in the financial sector should be paying attention to. For financial institutions, the outlook provides a useful guideline for their own risk management. It also gives an overview of BaFin’s supervisory priorities for the current year.

    In total, BaFin is focusing on six risks and three trends for the German financial sector:

    Opportunities and risks from three trends

    Alongside these risks, BaFin has identified three trends that offer opportunities for the economy and the financial sector, but that also harbour considerable risks: sustainability issues, digitalisation and geopolitical upheavals. In addition to the physical risks of advancing climate change, BaFin also sees risks in the uncertainties and costs associated with the transition to a low-carbon economy (transition risks). In BaFin’s view, “greenwashing”, i.e. attempts to sell products based on unfounded claims that they are particularly environmentally friendly or responsible, also still poses risks.

    Digitalisation and geopolitics

    When it comes to digitalisation, BaFin is concerned with increasing cyber risks, the responsible use of artificial intelligence, volatility in the market valuation of cryptoassets and, most recently, the future use of quantum computers. Although high-performance quantum computers have yet to be used on a mass scale, in the interests of IT security, financial companies should already be preparing for their potential application. In the future, quantum computers will be able to crack data encryption methods that are currently considered secure. Criminals could therefore steal data now to decrypt later with the aid of quantum computing. The development of protection plans is therefore crucial.

    According to Branson, “Many companies are aware of all these risks and have invested in their IT security. It is important to us that companies continuously monitor current developments and threats. They must also prepare for crisis situations and adapt their security measures. This is what we expect of them. It is also what their customers expect of them.”

    In terms of geopolitics, clear trends towards market fragmentation and increasing tensions between countries were observed in 2024. This could continue, with repercussions for the entire financial system. Although they are not an independent risk type, geopolitical crises can influence and exacerbate other relevant risks. The German financial system is particularly susceptible because of Germany’s close international trade links and the high export dependency of its economy.

    Contact:Jacque­line Juk­nat

    Head of Communications
    Phone: +49 (0) 228 / 4108 – 4629

    Contact:Christoph Blu­men­thal

    Head of Press Relations and Social Media
    Phone: +49 (0) 228 4108-7094

    MIL OSI Economics –

  • MIL-OSI Economics: François Villeroy de Galhau: For a high speed and safe journey into the financial future

    Source: Bank for International Settlements

    Ladies and gentlemen,
    It is a great pleasure to welcome you to this high-level conference organised by the Banque de France on speed and innovation, and how they could be disruptive for financial markets and market infrastructures. Let me thank Emmanuelle Assouan and her teams for setting up this event. I would also like to extend my warm thanks to all participants from industry, public authorities and central banks who will give their views during three roundtables today, including my colleagues and friends Andrea Maechler, Piero Cipollone and Naoto Shimoda.

    It is a première for a Banque de France conference to be held here at the Cinémathèque française, which is definitely an excellent venue for our theme of today: we are here in the place where speed is made art. As you know, cinema was invented in France by the Lumière brothers in the late 19th century. During the projection in 1896 of one of their very first movies, The arrival of a train at La Ciotat station, the audience was so overwhelmed by the moving image of a train coming directly at them that people ran away. But we do not fear speed anymore, on the contrary: it has become a key success factor in financial markets and market infrastructures, yielding high benefits. Transactions and their settlement have already become dramatically swifter over the last decades – notably in France, which was at the forefront in dematerialising securities – and will continue gathering speed. I will first elaborate on the reasons why, in a fast-moving environment, resilience must be preserved in order to ensure financial stability (I). Our public-private partnership has to evolve, with a view to enhancing cross-border payments and the holistic project of creating a shared ledger (II). 

    I. A fast-moving financial system whose resilience must be preserved in order to ensure financial stability

    Markets are undergoing structural changes, all driven by increased speed aimed at achieving higher efficiency. Automation and high-frequency trading are driving a rise in daily trading volumes; new participants have emerged, and incumbents have evolved. Nowadays, robots and algorithms are unlocking new possibilities, while artificial intelligence offers the promise of value added in trading, customer relationships and investment decisions. From photography to digital movies, from local theatres to global web platforms, cinematography has gone through technological revolutions over the years. However, whether it’s in cinema or finance, speed is not a goal per se. The social utility of certain accelerations such as high-frequency trading remains to be seen, and they carry risks. We must reflect on new guardrails to protect against possible increased market volatility – and even potential flash crashes caused by poorly coordinated algorithms that can amplify massive sell-offs.
     
    Post-market processes are keeping pace with this acceleration in trading: settlement is getting ever faster. A few years ago, implementing T+2 (i.e. ensuring settlement within two days of transaction execution) was a major step forward for all players, as enshrined in the European CSDR regulation.i Nowadays we are once again aiming for more ambitious targets, with an objective of T+1 in Europe in 2027 – as has already been the case in the United States, Canada and Mexico since end-May last year. Interestingly, across the Atlantic, this evolution was driven by market players, who saw in the shortening of the settlement cycle an opportunity to further reduce liquidity, counterparty and operational risks. The American experience also shows that T+1 yields direct financial benefits, in particular a significant lowering of CCP margins. T+1 therefore received overall support in ESMA’s and the Commission’s public consultations. I trust that we are all well aware of the operational requirements and challenges to be met:ii  preparatory work must start now, with the adaptation of IT systems and further automation of processes. It is also important to coordinate with the United Kingdom and Switzerland, and to pay due attention to the consequences in terms of shorter cut-offs – notably for FX transactions.
     
    The tokenisation of assets is obviously another groundswell movement, which could further enhance the straight-through processing of trade and post-trade activities, and paves the way for yet another acceleration with a widespread implementation of T+0. It has the potential to generate even greater savings both for the financial industry and end-users. To date, the nascent DLTiii  finance has used new forms of commercial bank money as settlement assets, such as tokenised deposits or so-called stablecoins. As experience has shown in the last few years, they are far from immune, and Europe has made the right step by adopting the MiCA regulation. Failing to regulate crypto-assets and non-banks today would merely sow the seeds for tomorrow’s financial crisis.
     
    Beyond these regulatory issues, it has become more and more apparent that we currently lack the anchor provided by central bank money, which drastically reduces counterparty and liquidity risks, and crucially ensures the finality of payments. A wholesale central bank digital currency would ensure convertibility between tokenised assets, exactly as central banks currently ensure convertibility between commercial bank monies, allowing for delivery-versus-payment and payment-versus-payment. In short, tokenised central bank money would provide a “safety pivot”, and serve as a reliable basis of trust on which these new technologies could realise their full potential.

    II. A step further with the interlinking of fast-payment systems and a European shared ledger to meet the challenges of transition and growth

     
    Central banks must therefore keep up with these developments,iv  in order to explore the potential of DLT and foster innovation while preserving the anchoring role of central bank money. Building among others on the Banque de France’s pioneering experiments between 2020 and 2023,v  the Eurosystem conducted a series of new experiments on wholesale CBDC between April and November 2024,vi  with the active involvement of the Banque de France, Banca d’Italia and Bundesbank as solution providers. We witnessed active industry participation in the Eurosystem experiments, and I would like to take the opportunity to pay tribute to your strong commitment – which, I believe, also reflects the growing awareness of the need for a safe settlement asset.
     
    Together, we successfully tested numerous and very diverse use cases, ranging from primary issues to cross-currency payments, repos, margin calls and asset management, to give a few examples. Actual settlement was even tested for the lifecycle management of securities and secondary market transactions. With this ambitious programme, we have further delivered on our learning-by-doing approach, which is of the essence. As announced, the Eurosystem will draw lessons from the exploratory work, including on how to facilitate the provision of central bank money settlement for wholesale asset transactions on DLT platforms. Clearly, it is in the interest of both European commercial banks and the public sector to work together towards a tokenised European framework: money is and will remain a public-private partnership, which has to evolve.
     
    As regards cross-border payments, the Eurosystem has launched initiatives to help improve them, including exploratory work on linking TIPS with other fast-payment systems such as UPI in India. We thereby support the G20 roadmap for creating a faster, cheaper, more transparent and accessible global payments ecosystem, while ensuring secure and reliable instant payments. The G20 roadmap also foresees, in the longer term, the use of tokenisation to further enhance cross-border payments.
     
    We now need to bring all these advances together to create a global motion picture, in a holistic manner. Here, the idea of a “unified ledger” put forward by the BISvii  looks like more than a promising technology: a rallying concept, or even a utopia. This next-generation market infrastructure would take one day in the future the shape of a shared, seamless and programmable platform that integrates central bank money, commercial bank money and tokenised financial assets – which would call for redefined and improved public-private partnerships. Accordingly, in April 2024 the BIS launched Project Agorá,viii  to explore the tokenisation of cross-border payments to improve the existing correspondent banking model. This major project brings together seven central banks worldwide, including the Banque de France which represents the Eurosystem, and a large group of private financial firms. But a first and necessary step towards such a global infrastructure should be to build regional shared ledgers – one of which would be European.
     
    A European shared ledger could prove an efficient means to overcome European market fragmentation and current inefficiencies, by facilitating the provision of seamlessly connected services across Europe. It would therefore act as a catalyst for a Savings and Investments Union, and provide tools such as green bonds and securities to finance the green transition, at a time where we have to mobilise Europe’s private savings surplus of more than EUR 300 billion a year. In short, it would be an important lever for achieving our climate but also digital transformations, which are among our main challenges; it would also help Europe to gain in both size – by unifying its single market – and speed. Achieving this ambitious vision requires moving forward step by step, in a phased approach. Rather than replacing existing infrastructures which have already helped to reduce fragmentation in Europe – like the harmonised settlement system T2S –, this new shared infrastructure would tackle markets which still rely on manual processes and lack standardisation, such as OTC markets and unlisted stocks. A crucial first step will be to make central bank money available on this infrastructure: this makes it all the more important to offer a wholesale CBDC solution in the short term to prepare this long term target.

    Let me conclude with Billy Wilder, the director of Some like it hot. He once gave this sound piece of advice: “If you have a problem with the third act, the real problem is in the first act.” This leads me to a twofold conclusion: first, that it is the right time to engage in the design and experimentation of market infrastructures of the future; second, that fast-paced transformations should not be at the expense of past achievements in financial stability, and increase risks. Central bank money must remain the settlement asset at the core of the financial system, whether tokenised or not. Under this condition, our common technological breakthroughs could contribute to meeting our major challenges. Thank you for your attention. 

    MIL OSI Economics –

  • MIL-OSI Economics: Making Everyday Life Special With Galaxy AI

    Source: Samsung

    Returning home after an exciting trip doesn’t mean the very next day can’t be special. With the power of Galaxy AI1, every day becomes a day to treasure. Samsung Newsroom delved into how the Galaxy S25 series can fill your daily life with joy and meaning as you cook, draw or spend time with your friends and family.
    Save Special Moments in Videos as GIFs
    ▲ AI Select can isolate a specific moment in the middle of video to be downloaded as a GIF.
    Sometimes there can be a certain moment in the middle of a video you’re watching that you simply want to save separately or watch on repeat. Downloading the whole video, finding that exact part and editing it, however, can be quite a time-consuming task. Whether you want to capture a warm moment with your family to cherish the memory or analyze your golf swing in detail to practice over and over again, AI Select can get the job done. While watching the video, simply open the quick panel, tap the AI Select icon and save the desired portion as a GIF.

    Scan What’s in Your Fridge, Receive Recipe Recommendations and Save Them as a Samsung Note
    ▲ The Galaxy S25’s AI agents analyze the contents of a refrigerator and recommend recipes.
    For those who enjoy cooking, there’s nothing more exciting than trying out a new recipe. When you’re out of ideas for what to cook, the Galaxy S25 series can be just the solution you need. Use the camera to snap a photo of what’s in your fridge, and Galaxy AI will analyze the items, recommend recipes and thoroughly guide you through the cooking process so you can transform ordinary ingredients into extraordinary dishes.

    Enter Some Text and Watch Galaxy AI Draw a Masterpiece
    ▲ Drawing Assist generates an image of a cat watching fireworks using text input.
    With visual content increasing in importance by the day, the tough job of synthesizing and producing high-quality images in bulk has never been in higher demand. It’s only natural to imagine a dream world where AI could dramatically streamline the workload by generating all kinds of vivid images by typing text? That world is no longer an imagination with the Galaxy S25 series’ Drawing Assist and its limitless possibilities. With Drawing Assist, anyone can easily create stunning images using simple text input. For example, typing “watching fireworks” after drawing a very rough sketch of a cat with your finger or an S Pen and will generate images of a cat watching fireworks in a variety of styles, including visual aids, 3D and illustrations. These images can then be used for social media content, visual training materials presentations and more.

    1 Galaxy AI features by Samsung are free through 2025 and require Samsung account login.

    MIL OSI Economics –

  • MIL-OSI Economics: AuraSwiss: BaFin also warns consumers about the website auraswiss.co

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) again warns consumers about the company AuraSwiss and the services it is offering. BaFin has already issued a warning, on 3 January 2025, about AuraSwiss and its website auraswiss.net, which has since been deactivated. The unknown operators are now using the nearly identical website auraswiss.co. BaFin suspects the operators of the websites of offering consumers financial, investment and cryptoasset services without the required authorisation.

    The content of the websites is identical to other platforms that BaFin has previously warned consumers about and that display the same opening sentence: “Invest in Success Prosper with Confidence!”

    Anyone conducting banking business or providing financial, investment or cryptoasset services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

    BaFin is issuing this information on the basis of section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG) and section 10 (7) of the German Cryptomarkets Supervision Act (Kryptomaerkteaufsichtsgesetz).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

  • MIL-OSI Economics: Step into a Fitter Tomorrow: Join Samsung Health’s ‘Walk-a-thon India’ Challenge and Win Big!

    Source: Samsung

     
    At Samsung, put your best foot forward to win big! Samsung India is thrilled to announce the ‘Walk-a-thon India’ Challenge, a unique initiative created exclusively for Indian users of the Samsung Health app.
     
    From January 30 to February 28, 2025, embark on a 30-day journey to complete 200,000 steps and discover the joy of walking together while competing with fellow participants. Powered by Samsung Health’s ‘Together’ feature, this challenge isn’t just about fitness—it’s about fostering a sense of community, healthy competition, and personal achievement.
     
    Why Join the Challenge?
    Walking isn’t just a workout; it’s a way to rejuvenate your mind and body. With the Walk-a-thon India challenge, Samsung Health makes tracking your steps and achieving fitness goals easy and rewarding. You’ll get access to a real-time leaderboard, allowing you to measure your progress against others and stay motivated.
     
    Complete the challenge and stand a chance to win big! From the pool of participants who achieve the 200,000-step goal and post their screenshots on the Samsung Members app using #WalkathonIndia, three lucky winners will be randomly selected to win the ultimate fitness companion—the Galaxy Watch Ultra.
     
    Who Can Participate?
    This challenge is open to all Samsung smartphone users in India who can access the Samsung Health app
     
    Here’s How to Join:
    1. Open the Samsung Health app and navigate to the ‘Together’ section.
    2. Opt into the ‘Walk-a-thon India’ challenge starting January 30, 2025.
    3. Put on your walking shoes, track your steps, and aim to hit 200,000 steps in 30 days.
    4. Post your completion screenshot on the Samsung Members app with #WalkathonIndia to qualify for the lucky draw.
     
    Why Walk Together?
    Samsung Health’s global challenges have inspired millions worldwide to embrace healthier lifestyles. This India-exclusive challenge is a chance to unite as a community, celebrate small victories, and take a giant leap towards a fitter future.
     
    The countdown begins—mark your calendars, set your fitness goals, and step into a healthier, more active lifestyle with Samsung Health. Let’s make every step count!
     
    Join the #WalkathonIndia challenge today!

    MIL OSI Economics –

  • MIL-OSI Economics: Euro area economic and financial developments by institutional sector: third quarter of 2024

    Source: European Central Bank

    28 January 2025

    • Euro area net saving increased to €820 billion in four quarters up to third quarter of 2024, compared with €804 billion one quarter earlier
    • Household debt-to-income ratio decreased to 82.5% in third quarter of 2024 from 86.2% one year earlier
    • NFCs’ debt-to-GDP ratio (consolidated measure) decreased to 67.4% in third quarter of 2024 from 69.1% one year earlier

    Total euro area economy

    Euro area net saving increased to €820 billion (6.8% of euro area net disposable income) in the four quarters up to the third quarter of 2024 compared with €804 billion in the four quarters up to the previous quarter. Euro area net non-financial investment was broadly unchanged at €440 billion (3.7% of net disposable income), due to broadly unchanged net investment in all sectors (see Chart 1 and Table 1 in the Annex).

    Euro area net lending to the rest of the world increased to €418 billion (from €405 billion previously) reflecting the increased net saving and broadly unchanged net non-financial investment. Household net lending increased to €581 billion (4.8% of net disposable income) from €561 billion. Net lending of NFCs decreased to €192 billion (1.6% of net disposable income) from €231 billion while that of financial corporations was broadly unchanged at €132 billion (1.1% of net disposable income). General government net borrowing decreased, contributing less negatively (-4.0% of net disposable income, after -4.3% previously) to euro area net lending.

    Chart 1

    Euro area saving, investment and net lending to the rest of the world

    (EUR billions, four-quarter sums)

    Sources: ECB and Eurostat.
    * Net saving minus net capital transfers to the rest of the world (equals change in net worth due to transactions).

    Data for euro area saving, investment and net lending to the rest of the world (Chart 1)

    Households

    Household financial investment increased at a broadly unchanged annual rate of 2.4% in the third quarter of 2024. Among its components, investment in currency and deposits (2.6%, after 2.3%) and investment in shares and other equity (1.3%, after 0.8%) grew at higher rates – the latter due to investment fund shares – while investment in debt securities increased at a lower rate (15.4%, after 28.4%).

    Households continued to purchase, in net terms, mainly debt securities issued by general government and MFIs. Households were overall net sellers of listed shares, selling predominantly listed shares of non-financial corporations, while buying listed shares issued by the rest of the world (i.e. shares issued by non-euro area residents). Households increased their purchases of euro area investment fund shares, including those issued by MFIs (money market funds) and by non-money market investment funds, and continued to purchase investment fund shares issued by the rest of the world (see Table 1 below and Table 2.2. in the Annex).

    The household debt-to-income ratio[1] decreased to 82.5% in the third quarter of 2024 from 86.2% in the third quarter of 2023. The household debt-to-GDP ratio declined to 51.8% in the third quarter of 2024 from 53.5% in the third quarter of 2023 (see Chart 2).

    Table 1

    Financial investment and financing of households, main items

    (annual growth rates)

    Financial transactions

    2023 Q3

    2023 Q4

    2024 Q1

    2024 Q2

    2024 Q3

    Financial investment*

    1.8

    1.9

    2.0

    2.3

    2.4

    Currency and deposits

    0.3

    0.7

    1.6

    2.3

    2.6

    Debt securities

    58.7

    55.9

    39.4

    28.4

    15.4

    Shares and other equity**

    1.1

    0.3

    0.4

    0.8

    1.3

    Life insurance

    -0.7

    -0.7

    -0.2

    0.0

    0.8

    Pension schemes

    2.3

    2.1

    2.2

    2.2

    2.3

    Financing***

    1.5

    0.8

    1.0

    1.3

    1.3

    Loans

    1.0

    0.5

    0.5

    0.5

    0.9

    Source: ECB.
    * Items not shown include: loans granted, prepayments of insurance premiums and reserves for outstanding claims and other accounts receivable.
    ** Includes investment fund shares.
    *** Items not shown include: financial derivatives’ net liabilities, pension schemes and other accounts payable.

    Data for financial investment and financing of households (Table 1)

    Chart 2

    Debt ratios of households and NFCs

    (percentages of GDP)

    Sources: ECB and Eurostat.
    * Outstanding amount of loans, debt securities, trade credits and pension scheme liabilities.
    ** Outstanding amount of loans and debt securities, excluding debt positions between NFCs
    *** Outstanding amount of loan liabilities.

    Data for debt ratios of households and NFCs (Chart 2)

    Non-financial corporations

    Financing of NFCs increased at an unchanged annual rate of 1.0% in the third quarter of 2024. Issuance of debt securities grew at a lower rate (2.4% after 2.9%) and financing via trade credits increased at a higher rate (2.4% after 1.8%) while financing via shares and other equity (0.7%) and loans (1.3%) increased at unchanged rates. Loans granted by MFIs to NFCs increased at a broadly unchanged rate (1.2%), and loans granted by other NFCs grew at a lower rate (2.6% after 3.1%). Loans granted by other financial institutions declined at a less negative rate (‑0.2% after -0.6%), as did loans granted by the rest of the world (-1.1% after -2.1) (see Table 2 below and Table 3.2 in the Annex).

    NFCs’ debt-to-GDP ratio (consolidated measure) decreased to 67.4% in the third quarter of 2024, from 69.1% in the third quarter of 2023; the non-consolidated, wider debt measure decreased to 138.4% from 141.3% (see Chart 2).

    Table 2

    Financing and financial investment of NFCs, main items

    (annual growth rates)

    Financial transactions

    2023 Q3

    2023 Q4

    2024 Q1

    2024 Q2

    2024 Q3

    Financing*

    1.2

    0.8

    0.8

    1.0

    1.0

    Debt securities

    1.5

    1.3

    1.9

    2.9

    2.4

    Loans

    1.8

    1.6

    1.4

    1.3

    1.3

    Shares and other equity

    0.4

    0.3

    0.4

    0.7

    0.7

    Trade credits and advances

    2.1

    1.1

    0.9

    1.8

    2.4

    Financial investment**

    2.3

    1.7

    1.8

    2.0

    2.0

    Currency and deposits

    -1.2

    -1.2

    0.5

    2.8

    1.8

    Debt securities

    24.9

    20.2

    8.5

    5.8

    1.9

    Loans

    4.7

    4.5

    3.9

    3.9

    3.4

    Shares and other equity

    1.2

    1.0

    1.4

    1.4

    1.6

    Source: ECB.
    * Items not shown include: pension schemes, other accounts payable, financial derivatives’ net liabilities and deposits.
    ** Items not shown include: other accounts receivable and prepayments of insurance premiums and reserves for outstanding claims.

    Data for financing and financial investment of NFCs (Table 2)

    For queries, please use the statistical information request form.

    Notes

    • These data come from a second release of quarterly euro area sector accounts for the third quarter of 2024 by the ECB and Eurostat, the statistical office of the European Union. This release incorporates revisions and completed data for all sectors compared with the first release on “Euro area households and non-financial corporations” of 13 January 2025. Moreover, it incorporates revisions to the data since the first quarter of 1999, reflecting, amongst others, the impact of the benchmark revision 2024 implemented in the EU. For further information see the related Eurostat webpage.
    • The euro area and national financial accounts data of NFCs and households are available in an interactive dashboard.
    • The debt-to-GDP (or debt-to-income) ratios are calculated as the outstanding amount of debt in the reference quarter divided by the sum of GDP (or income) in the four quarters up to the reference quarter. The ratio of non-financial transactions (e.g. savings) as a percentage of income or GDP is calculated as the sum of the four quarters up to the reference quarter for both numerator and denominator.
    • The annual growth rate of non-financial transactions and of outstanding assets and liabilities (stocks) is calculated as the percentage change between the value for a given quarter and that value recorded four quarters earlier. The annual growth rates used for financial transactions refer to the total value of transactions during the year in relation to the outstanding stock a year before.
    • Hyperlinks in the main body of the statistical release lead to data that may change with subsequent releases as a result of revisions. Figures shown in annex tables are a snapshot of the data as at the time of the current release.
    • The ECB publishes experimental Distributional Wealth Accounts (DWA) for the household sector. The release of results for the third quarter of 2024 is planned for 28 February 2025 (tentative date).

    MIL OSI Economics –