Category: Economy

  • MIL-OSI: Nokia and VNPT collaborate on 5G in Vietnam

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    Nokia and VNPT collaborate on 5G in Vietnam

    • Nokia and VNPT partner to deploy 5G technology supporting the development of digital infrastructure in Vietnam

    21st October 2024
    Espoo, Finland – Nokia and Vietnam Posts and Telecommunications Group (VNPT), one of Vietnam’s leading telecommunications operators, today announced a new partnership to deploy 5G technology. This significant development marks a new milestone in the long-standing collaboration between the two companies, reinforcing their commitment to providing a strong digital infrastructure in Vietnam. Nokia is also manufacturing its 5G products locally in Vietnam highlighting its commitment to the region.

    As part of this agreement, Nokia will deploy equipment from its state-of-the-art 5G AirScale portfolio, powered by its energy-efficient ReefShark System-on-Chip technology. These provide premium connectivity, low latency, enhanced network capacity, and reduced power consumption. Nokia will also deploy its AI-based 5G MantaRay network management solution which will greatly improve VNPT’s network operation efficiency.
      
    Mr. Huynh Quang Liem, VNPT’s CEO, said: “Collaborating with Nokia will enable VNPT to rapidly deploy a world-class 5G network and meet the growing demands of our customers in Vietnam, 5G will serve as the foundation that will drive Vietnam’s economic development and societal progress, thereby accelerating its journey towards becoming a digital economy.”

    Tommi Uitto, Nokia’s President of Mobile Networks, said: “Nokia is proud to be VNPT’s strategic partner in introducing 5G which will deliver future-ready communications solutions that will help accelerate Vietnam’s digital future. Our local 5G production is further enhancing our strong bond with the country.”

    Resources:
    Webpage: Nokia 5G
    Product page: AirScale Radio Access
    Product page: MantaRay Network Management

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

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

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

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

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    The MIL Network

  • MIL-OSI Submissions: Visa’s Growth Corporates Working Capital Index Reveals 300% Increase in Working Capital Efficiency

    Source: Visa Inc.
     
    Top performing growth corporates surveyed saved an average of $11 million, with virtual card usage jumping 32%

    SAN FRANCISCO – Visa (NYSE:V), a global leader in digital payments, announced the findings from its second annual global Growth Corporates Working Capital Index. The findings revealed an astounding increase in working capital usage and efficiency, with an 81% adoption rate of at least one working capital solution in 2024. Beyond increased adoption, top-performing companies1 saved an average of $11 million in interest and fees – a YoY efficiency increase of 300%.

    The Index surveyed nearly 1,300 CFOs and Treasurers across 8 industry segments and 23 countries, all representing “Growth Corporates,” organizations that generate between $50 million and $1 billion in annual revenue.

    Beyond the increased adoption of working capital solutions, virtual cards saw a particularly high uptick. These solutions offer flexible, on-demand working capital solutions that provide access to funds as corporate needs require.

    Virtual cards saw a 32% YoY increase in usage and were intrinsically linked to top-performing Index scores. Surveyed Growth Corporates who used virtual card solutions saw higher probability of reduced Days Payable Outstanding (DPO), strategic utilization of working capital, better cash flow predictability, more supplier integration into payment systems and early supplier payment.

    The Index notably highlights that CFOs and Treasurers of Growth Corporate businesses want relationship-based banking and personalized working capital solutions tailored to their specific industry, spending habits and business needs.

    Five out of eight industries represented by survey respondents cited lengthy approval processes and uncertainty about approval outcomes as their most significant obstacles, as respondents expressed the need for bankers with both the lending experience and working knowledge of their industry and region to design working capital solutions that fit their business requirements.

    And the stakes are high: 90% of respondents reported negative consequences when working capital access was denied or took too long.

    “Growth Corporates have unique needs and capabilities that often fall through the cracks between small businesses and enterprises,” said Lauren Hewings, Visa’s Head of Working Capital Solutioning. “This valuable segment, which really represents tomorrow’s enterprises, has historically lacked access to customized, industry-tailored products and solutions from their financial institutions; however, increasingly, they are demanding them from their financial institutions as they seek flexible, on-demand methods for optimizing cash flow to drive strategic growth.”

    Additional key findings include:

    More than half (58%) of top performers surveyed improved their working capital ratios, as evidenced by 51% shorter cash conversion cycles and 28% shorter days payable outstanding.
    Strategic use cases drove 62% of working capital use. CFOs and Treasurers were 35% more likely to use solutions to invest in company assets and 37% more likely to have invested in organic growth and expansion, than last year.
    Developing markets and specific industries experienced remarkable gains: North America’s agriculture sector saw a 17% Index surge, healthcare in Europe and Asia-Pacific (APAC) led with 16% gains, and retail in Central Europe, Middle East and Africa (CEMEA) witnessed a dramatic 26% increase in Index scores.
    Top performers surveyed achieved a 21% increase in their net profit margins and a 14% increase in their working capital ratios.
    Top-performing CFOs and Treasurers are three times more likely to use virtual cards next year than bottom performers. Virtual cards provide access as needed to pay suppliers early, which is often associated with more favorable pricing from key suppliers.

    For more information about the Growth Corporates Working Capital Index, please visit: https://global-corporate.review.visa.com/solutions/commercial-solutions/knowledge-hub/working-capital-index-report.html.

    About Visa Inc.

    Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

    ______________________________
    1 Top performers are characterized by superior predictability in financing needs, which enables them to use financing more strategically than less efficient counterparts. Growth Corporates at the top of the Index are more likely to be in a stable financial position, either with the help of external working capital or without and are therefore the least likely to have needed financing for emergencies.

    MIL OSI – Submitted News

  • MIL-OSI Australia: Appointments – Members, Companies Auditors Disciplinary Board

    Source: Australian Treasurer

    The Albanese Government has today appointed Mr Michael Bray, Ms Julie Williams and Mr Matthew Green as part‑time accounting members of the Companies Auditors Disciplinary Board (CADB) for a three‑year period.

    The CADB is an independent disciplinary body established by Part 11 of the Australian Securities and Investments Commission Act 2001 (ASIC Act).

    CADB receives and reviews applications made to it by the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority in respect of registered company auditors under the Corporations Act 2001.

    Mr Bray specialises in financial statement audits in specialist industries with complex accounting and auditing issues. He has extensive experience in a number current and previous roles including as a Professor of Practice at Deakin University, a Director at the Australian Business Reporting Leaders Forum and a Special Adviser to the Chief Connectivity and Integrated Reporting Officer of the International Financial Reporting Standards Foundation.

    Ms Williams has many years experience as a registered liquidator and is well‑versed in the financial regulatory framework, including the Corporations legislation. Her experience includes membership of the board of the Institute of Public Accountants where she chaired the IPA’s disciplinary committee and served as President between 2020 and 2023.

    Mr Green is a partner at Forvis Mazars and a registered company auditor. He has a breadth of experience that includes providing audit and assurance services specialising in corporate reporting, accounting and auditing requirements, corporate law and governance, risk assessment and corporate transactions and valuations.

    The Government has also reappointed Ms Adeline Hiew as a part‑time business member and Mr Tony Brain and Ms Ann‑Maree Robertson as part‑time accounting members of the CADB.

    These appointments will continue the high level of skills and experience available to the CADB, to help ensure that the key sectors of our economy are effectively regulated.

    MIL OSI News

  • MIL-OSI Economics: APEC Reinforces Ethical Standards, Drives Global Impact in Health-Related Sectors Lima, Peru | 21 October 2024 APEC Small and Medium Enterprises Working Group Senior stakeholders from across the Asia-Pacific convened in Lima last month to drive action to enhance ethical practices, reinforcing APEC’s leadership in promoting sustainable growth and fair competition for SMEs.

    Source: APEC – Asia Pacific Economic Cooperation

    Dedicated to advancing ethical standards in health-related sectors, senior stakeholders from across the Asia-Pacific convened in Lima last month to drive action to enhance ethical practices, reinforcing APEC’s leadership in promoting sustainable growth and fair competition for small and medium enterprises (SMEs).

    “Ethical business practices are not just about doing the right thing—they are about creating environments where businesses can thrive, where innovation can flourish and where societies can prosper,” said Diane Farrell, Deputy Under Secretary for International Trade at the US Department of Commerce, upon opening the 2024 APEC Business Ethics for Small and Medium Enterprises Forum.

    Endorsed by APEC Small and Medium Enterprises Ministers in 2011 and recognized by APEC Economic Leaders in 2012, the Business Ethics for APEC SMEs Initiative is the world’s largest public-private partnership promoting ethical business practices in health-related sectors. 

    The APEC Kuala Lumpur Principles for medical technology industry and Mexico City Principles for biopharmaceutical industry guide nearly 20,000 enterprises and set a global benchmark for ethical conduct, supported by industry and governments alike.

    “By prioritizing ethical standards, we not only enhance competitiveness but also ensure that small and medium enterprises are well-positioned to thrive in the future economy,” said Aaron Sydor, Chair of the APEC Small and Medium Enterprises Working Group

    “We are also empowering the region’s SMEs with the tools they need to operate with integrity and transparency in an increasingly complex global market,” Sydor added.

    This year’s forum advanced government strategies to encourage ethical practices with Chile announced a pilot program to promote enterprise integrity through public procurement, and Mexico introduced a new partnership to align SMEs with the Kuala Lumpur and the Mexico City principles. 

    The forum also marked the international launch of the US Consensus Framework, expanding ethical standards across the APEC region, as well as the expansion of the Peru Consensus Framework with new public and private signatories, boosting momentum for ethical collaboration in health systems.

    Consensus frameworks are critical to advancing ethical business conduct to support small businesses within health systems and represent each economy’s commitment to strengthening collaboration. This includes adherence to rules within respective health systems and alignment of ethical principles across diverse stakeholders. 

    “When ethical practices are prioritized, patient outcomes improve. This Initiative is crucial in ensuring that ethical considerations are embedded in every aspect of healthcare, ultimately leading to better care for patients across the region,” said David Reddy, director general of the International Federation of Pharmaceutical Manufacturers and Associations.

    The 2024 forum promoted mentorship for medical technology and biopharmaceutical industry associations to embed these principles in their codes of ethics, and for the first time, addressed the role of women’s leadership in this effort.

    “APEC has a unique opportunity to champion ethical leadership that is inclusive and gender balanced. This means not only supporting women in leadership roles but also ensuring that ethical considerations are integrated into all aspects of economic policymaking,” said Dr Rebecca Sta Maria, executive director of the APEC Secretariat.

    The commitments made at the forum will play a pivotal role in shaping health-related sectors globally. APEC’s strong leadership in promoting ethical business practices is crucial to driving sustainable growth and public health, empowering SMEs to thrive in an increasingly complex global market.

    “Effective government strategies serve as a catalyst for ethical transformation across industries, ensuring that businesses are anchored in integrity,” Chris White, general counsel and chief policy officer at the Advanced Medical Technology Association. 

    “By championing ethical practices, including in the public procurement process, governments not only guide businesses but also reinforce the trust that is vital to the broader health ecosystem,” he concluded.

    For more information about the Business Ethics for APEC SMEs Initiative, visit the initiative’s homepage. Stakeholders interested in learning more or getting involved are encouraged to contact the initiative’s stakeholder liaison team at [email protected].

    For further details or to arrange possible media interviews, please contact:

    APEC Media at [email protected]

    MIL OSI Economics

  • MIL-OSI China: China’s new policies spur foreign investor confidence

    Source: China State Council Information Office

    Foreign entrepreneurs are increasingly bullish on the Chinese market, buoyed by recent economic policies aimed at encouraging growth and stability. This heightened optimism was evident at the Annual Conference of Financial Street Forum 2024, held Oct. 18-20 in Beijing.

    Pan Gongsheng, governor of the People’s Bank of China, highlighted the positive reception of these policies at the forum’s opening ceremony on Oct. 18. “Since the implementation of the policy package, we have received positive feedback from home and abroad, effectively boosting social confidence and promoting the stable operation of the economy and financial markets,” Pan said.

    “China’s forward-thinking government policies, such as the recent stimulus package, have demonstrated a commitment to fostering stable and sustainable growth, particularly in key sectors like technology, green energy and healthcare,” said Jack Perry, chairman of the 48 Group and CEO of London Export Corporation, at an afternoon subforum titled “Joint Promoting Enterprise Development with Global Capital Integration.”

    Perry praised China’s leadership, reassuring international investors that China is not only a place of opportunity but also a reliable partner for long-term investment.

    “As the country transitions from an industry-driven to a consumption-driven economy, it opens doors to investors from across the globe,” Perry said.

    He added, “The sheer size of China’s market and its growing middle class of 400 million, which will soon expand to nearly 800 million, offers significant opportunities for international companies to expand their reach.”

    Regarding how China can continue to attract international capital, Perry said the answer lies in creating an inclusive environment for investment.

    “Optimizing regulatory frameworks, strengthening intellectual property protections and fostering transparent communication between foreign and domestic stakeholders are all crucial steps in this process,” Perry said.

    He stressed that international markets stand to gain from Chinese capital just as China benefits from foreign investment. “This two-way exchange strengthens global partnerships and fosters innovation on both sides,” Perry emphasized.

    Shane Tedjarati, vice chairman of Prologis Global, speaks at a subforum titled “Jointly Promoting Enterprise Development with Global Capital Integration,” during the Annual Conference of Financial Street Forum 2024 in Beijing, Oct. 18, 2024. [Photo by Wang Yiming/China.org.cn]

    Shane Tedjarati, vice chairman of Prologis Global, echoed these sentiments. “Today, as we’ve seen over the past 30 years, there’s little debate that China was the priority investment for the whole world,” Tedjarati said, noting that China’s economic trajectory has generated real wealth “not just for China, but for the whole world for three consecutive decades.”

    Despite acknowledging several challenges facing the country, Tedjarati maintained a positive outlook on China’s economic prospects.

    “The theme of this conference, ‘trust and confidence,’ is at the heart of the policies the Chinese government is now taking to confront these challenges head-on,” he explained, adding that early signs of a recovery in consumption were emerging.

    Tedjarati underscored China’s significance as a global manufacturing powerhouse, supported by “an impressive infrastructure with a complete industrial supply chain, highly skilled workers, an extensive supply system and a growing domestic market.”

    One key driver of China’s growth is consumption and the rise of the middle class, Tedjarati said.

    He noted that China has been the main contributor to the creation of the global middle class. “The middle class in China is expected to rise in the next 15 years from about 31% of the world’s total to nearly 40%, making it the world’s largest middle class,” Tedjarati added.

    Tedjarati also highlighted China’s urbanization, noting its distinct and systematic approach to urban planning, which he said bodes well for China’s growth. Additionally, he praised China’s e-commerce infrastructure as “a trailblazer in the world,” a model that few other major economies have been able to replicate.

    Concluding his speech, Tedjarati addressed a question on many minds: “Where is the next China?” His answer was clear and confident: “The next China is still China.”

    MIL OSI China News

  • MIL-OSI Asia-Pac: FS attends APEC meeting in Peru

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan began his visit in Lima, Peru, to attend the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting and related activities.

    Yesterday morning, he attended the Finance Ministers’ Retreat, a meeting focused on discussing the fiscal policies of economies and several specific topics, including tax administration, promoting quality infrastructure development, and the digital transformation of financial services.

    Mr Chan introduced the latest developments in Hong Kong regarding these topics and specifically shared Hong Kong’s experience in issuing retail bonds to support infrastructure projects that benefit the economy and people’s lives.

    He highlighted that this arrangement allows residents to participate in advancing infrastructure projects, and providing them with a safe, reliable, and stable investment option, while also raising funds for such projects. This approach, Mr Chan pointed out, achieves the dual goals of supporting inclusive finance and infrastructure development.

    He also shared Hong Kong’s progress in promoting the digitalisation of financial services, including ongoing optimisation of the fintech ecosystem, launching regulatory sandboxes to test and promote innovative projects across various financial sectors, and facilitating data sharing between small and medium-sized enterprises and banks to facilitate business lending.

    In the afternoon, while participating in the High Level Event on Sustainable Finance under Finance Ministers’ Meeting, Mr Chan engaged in in-depth discussions with finance ministers on the strategies for the development of sustainable finance and transition finance, governance frameworks and international co-operation.

    The Financial Secretary outlined the Hong Kong Special Administrative Region Government’s emission reduction targets and action strategies set forth in Hong Kong’s Climate Action Plan 2050.

    Additionally, he shared Hong Kong’s latest developments as a leading green finance centre in Asia, including the issuance of green and sustainable bonds, participation in the formulation of relevant international standards and climate disclosure guidelines, talent training, and promoting transition finance to build a thriving green and sustainable finance ecosystem.

    Moreover, he noted that a steering group comprising all financial regulators has been established to drive related efforts.

    What’s more, Mr Chan met Vice Minister of Finance Liao Min as well as several representatives from participating economies, including Peru’s Minister of Economy & Finance José Arista Arbildo, Singapore’s Minister for Transport and Second Minister for Finance Chee Hong Tat and Thai Deputy Minister of Finance Paopoom Rojanasakul to discuss deepening bilateral co-operation and exchange views on common concerns.

    During the bilateral meetings, Mr Chan introduced Hong Kong’s latest economic situation and various policy measures set out in the Policy Address that the Chief Executive delivered last week.

    In the evening, he attended a welcome reception for the Finance Ministers’ Meeting.

    MIL OSI Asia Pacific News

  • MIL-OSI: LHV Pank completed the acquisition of part of TBB pank’s credit portfolio

    Source: GlobeNewswire (MIL-OSI)

    AS LHV Pank and AS TBB Pank completed the transaction whereby the LHV Group’s subsidiary acquired a part of TBB Pank’s loan portfolio.

    By today, the transfer of the acquired loan portfolio has been completed, the volume of the acquired portfolio was 19,2 million euros, which may increase by up to 4,3 million euros within the next three months. The transaction concerned a total of 72 clients and the final discount amount was approximately 4 million euros.

    The completed transaction did not significantly impact LHV Pank’s capitalization or liquidity. The transaction can not be considered as a transaction between related parties.

    LHV Group is the largest domestic financial group and capital provider in Estonia. The LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,100 people. As at the end of August, LHV’s banking services are used by 441,000 clients, the pension funds managed by LHV have 118,000 active clients, and LHV Kindlustus protects a total of 168,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

    Priit Rum
    Communications Manager
    Phone: +372 502 0786
    Email: priit.rum@lhv.ee 

    The MIL Network

  • MIL-Evening Report: Australia’s fertility rate has reached a record low. What might that mean for the economy?

    Source: The Conversation (Au and NZ) – By Jonathan Boymal, Associate Professor of Economics, RMIT University

    BaLL LunLa/Shutterstock

    Australia’s fertility rate has fallen to a new record low of 1.5 babies per woman. That’s well below the “replacement rate” of 2.1 needed to sustain a country’s population.

    On face value, it might not seem like a big deal. But we can’t afford to ignore this issue. The health of an economy is deeply intertwined with the size and structure of its population.

    Australians simply aren’t having as many babies as they used to, raising some serious questions about how we can maintain our country’s workforce, sustain economic growth and fund important services.

    So what’s going on with fertility rates here and around the world, and what might it mean for the future of our economy? What can we do about it?

    Are lower birth rates always a problem?

    Falling fertility rates can actually have some short-term benefits. Having fewer dependent young people in an economy can increase workforce participation, as well as boost savings and wealth.

    Smaller populations can also benefit from increased investment per person in education and health.

    But the picture gets more complex in the long term, and less rosy. An ageing population can strain pensions, health care and social services. This can hinder economic growth, unless it’s offset by increased productivity.

    Other scholars have warned that a falling population could stifle innovation, with fewer young people meaning fewer breakthrough ideas.

    Students sitting at a school assembly
    In the short term, lower birth rates can mean more is able to be spent per-person on services like education.
    Jandrie Lombard/Shutterstock

    A global phenomenon

    The trend towards women having fewer children is not unique to Australia. The global fertility rate has dropped over the past couple of decades, from 2.7 babies per woman in 2000 to 2.4 in 2023.

    However, the distribution is not evenly spread. In 2021, 29% of the world’s babies were born in sub-Saharan Africa. This is projected to rise to 54% by 2100.

    There’s also a regional-urban divide. Childbearing is often delayed in urban areas and late fertility is more common in cities.

    In Australia, we see higher fertility rates in inner and outer regional areas than in metro areas. This could be because of more affordable housing and a better work-life balance.

    But it raises questions about whether people are moving out of cities to start families, or if something intrinsic about living in the regions promotes higher birth rates.

    Fewer workers, more pressure on services

    Changes to the makeup of a population can be just as important as changes to its size. With fewer babies being born and increased life expectancy, the proportion of older Australians who have left the workforce will keep rising.

    One way of tracking this is with a metric called the old-age dependency ratio – the number of people aged 65 and over per 100 working-age individuals.

    In Australia, this ratio is currently about 27%. But according to the latest Intergenerational Report, it’s expected to rise to 38% by 2063.

    An ageing population means greater demand for medical services and aged care. As the working-age population shrinks, the tax base that funds these services will also decline.

    Aged care worker holding the hand of an aged care resident.
    An ageing population can mean more pressure on tax-payer funded services like healthcare.
    Chinnapong/Shutterstock

    Unless this is offset by technological advances or policy innovations, it can mean higher taxes, longer working lives, or the government providing fewer public services in general.

    What about housing?

    It’s tempting to think a falling birth rate might be good news for Australia’s stubborn housing crisis.

    The issues are linked – rising real estate prices have made it difficult for many young people to afford homes, with a significant number of people in their 20s still living with their parents.

    This can mean delaying starting a family and reducing the number of children they have.

    At the same time, if fertility rates stay low, demand for large family homes may decrease, impacting one of Australia’s most significant economic sectors and sources of household wealth.




    Read more:
    No savings? No plans? No Great Australian Dream. How housing is reshaping young people’s lives


    Can governments turn the tide?

    Governments worldwide, including Australia, have long experimented with policies that encourage families to have more children. Examples include paid parental leave, childcare subsidies and financial incentives, such as Australia’s “baby bonus”.

    Many of these efforts have had only limited success. One reason is the rising average age at which women have their first child. In many developed countries, including Australia, the average age for first-time mothers has surpassed 30.

    As women delay childbirth, they become less likely to have multiple children, further contributing to declining birth rates. Encouraging women to start a family earlier could be one policy lever, but it must be balanced with women’s growing workforce participation and career goals.

    Research has previously highlighted the factors influencing fertility decisions, including levels of paternal involvement and workplace flexibility. Countries that offer part-time work or maternity leave without career penalties have seen a stabilisation or slight increases in fertility rates.

    Mother with small baby working from homeoffice, typing on laptop
    Any solutions to falling fertility rates must balance other important factors such as women’s increased workforce participation.
    Halfpoint/Shutterstock

    The way forward

    Historically, one of the ways Australia has countered its low birth rate is through immigration. Bringing in a lot of people – especially skilled people of working age – can help offset the effects of a low fertility rate.

    However, relying on immigration alone is not a long-term solution. The global fertility slump means that the pool of young, educated workers from other countries is shrinking, too. This makes it harder for Australia to attract the talent it needs to sustain economic growth.

    Australia’s record-low fertility rate presents both challenges and opportunities. On one hand, the shrinking number of young people will place a strain on public services, innovation and the labour market.

    On the other hand, advances in technology, particularly in artificial intelligence and robotics, may help ease the challenges of an ageing population.

    That’s the optimistic scenario. AI and other tech-driven productivity gains could reduce the need for large workforces. And robotics could assist in aged care, lessening the impact of this demographic shift.

    The Conversation

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

    ref. Australia’s fertility rate has reached a record low. What might that mean for the economy? – https://theconversation.com/australias-fertility-rate-has-reached-a-record-low-what-might-that-mean-for-the-economy-241577

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Economics: APAC companies add $550 billion in MCap in Q3 2024, driven by China’s stimulus and strong regional demand, reveals GlobalData

    Source: GlobalData

    APAC companies add $550 billion in MCap in Q3 2024, driven by China’s stimulus and strong regional demand, reveals GlobalData

    Posted in Business Fundamentals

    The Asia-Pacific (APAC) region experienced a significant surge in market capitalization (MCap), with the top 50 companies gaining $550 billion in the third quarter (Q3) of 2024. This growth was fueled by China’s fiscal stimulus, strong domestic demand in India and Southeast Asia, and better-than-expected corporate earnings, underscoring the region’s resilience amid global uncertainties, reveals a study by GlobalData, a leading data and analytics company.

    At the end of Q3 2024, the combined market value of the companies in the technology sector reached $3.3 trillion, while those in the financial services sector totaled $527.4 billion. Among the top 50 companies, 19 companies were from the technology sector. In terms of geographic distribution, 19 were based out of China, 15 from Japan, and seven from India.

    Murthy Grandhi, Business Fundamentals Analyst at GlobalData, comments: “Asian stocks surged in late September following the announcement of a comprehensive stimulus package by the Chinese policymakers. While individual measures such as interest rate cuts and reduced downpayment requirements for home purchases have been introduced over the past year, the coordinated nature of September’s initiative marked the strongest indication, yet Beijing is committed to bolster the Chinese economy and stabilize the stock markets.

    “The Bank of Japan’s July rate hike, coupled with Governor Ueda Kazuo’s signals of further increases, was swiftly followed by weak US labor market data. As the interest rate gap between the US and Japan narrowed, the Japanese yen strengthened significantly, triggering a rapid unwinding of many ‘carry trades’ that had benefited from low Japanese borrowing costs. A more reassuring stance from BoJ officials later helped Japanese stocks recover some of their losses.”

    Companies that witnessed significant gains include Chinese food-delivery giant Meituan, which experienced more than 50% quarter-on-quarter (QoQ) growth in its market capitalization owing to the stronger-than-expected quarterly results and share buyback announcement.

    Alibaba Group’s market valuation soared by 46.2% during the quarter, following the announcement of the completion of a three-year regulatory “rectification” process. This development came after the company was fined for monopolistic practices in 2021 as part of an antitrust investigation.

    The shares of China Life Insurance saw a 46.1% increase in market capitalization, driven by the company’s strong interim financial results.

    Grandhi adds: “The Chinese constituents in the top 50 APAC companies list witnessed a 18% increase in market value, driven by the announcement of China’s fiscal stimulus package. Oil majors CNOOC and PetroChina experienced market capitalization loss of 12.3% and 10.3%, respectively, owing to slump in crude oil prices.”

    Chipmakers SK Hynix and Samsung Electronics experienced significant declines in market value, dropping by 22.2% and 20.1%, respectively. These losses reflect concerns over a potential oversupply in the market, despite the low probability of this occurring.

    Additionally, Samsung is facing challenges in maintaining its lead in high-bandwidth memory (HBM) chips, a crucial component in AI processors, as domestic competitor SK Hynix’s latest HBM products are reportedly undergoing testing for possible integration into processors from leading AI-chip maker Nvidia.

    Grandhi concludes: “Into Q4 2024, APAC companies could be keenly keeping an eye on the monetary policies of their respective countries, with interest rates likely to be cut down, albeit not to extend of the recent US Fed rate cuts. Additionally, the ongoing Middle East crisis could disrupt the market, affecting investor confidence and business strategies. However, APAC’s resilience, driven by innovation and supply chain strengthening, will help them in navigating these uncertainties and in sustaining the growth story.”

    MIL OSI Economics

  • MIL-OSI Economics: Goldman Sachs and Rothschild & Co top M&A financial advisers in South & Central America during Q1-Q3 2024, finds GlobalData

    Source: GlobalData

    Goldman Sachs and Rothschild & Co top M&A financial advisers in South & Central America during Q1-Q3 2024, finds GlobalData

    Posted in Business Fundamentals

    Goldman Sachs and Rothschild & Co were the top mergers and acquisitions (M&A) financial advisers in the South & Central American region during the first three quarters (Q1-Q3) of 2024 by value and volume, respectively, according to the latest Financial Advisers League Table, which ranks legal advisers by the value and volume of mergers and acquisition (M&A) deals on which they advised, by GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Deals Database reveals that Goldman Sachs achieved the leading position in terms of value by advising on $2.5 billion worth of deals. Meanwhile, Rothschild & Co led in terms of volume by advising on a total of eight deals.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Rothschild & Co registered growth in the total number of deals advised by it during Q1-Q3 2024 compared to Q1-Q3 2023. Resultantly, its ranking by volume also improved from fifth position during Q1-Q3 2023 to the top position during Q1-Q3 2024. Apart from leading by volume, Rothschild & Co also occupied the second position by value during Q1-Q3 2024.

    “Meanwhile, Goldman Sachs was also the top adviser by value during Q1-Q3 2023. However, it registered a significant fall in the total value of deals advised by it during Q1-Q3 2024 compared to Q1-Q3 2023. Despite the decline, it still managed to retain its leadership position by value. Apart from leading by value, Goldman Sachs also occupied the third position by volume during Q1-Q3 2024.”

    Rothschild & Co occupied the second position in terms of value by advising on $1.9 billion worth of deals, followed by Bank of America with $1.9 billion, UBS with $1.5 billion, and JP Morgan with $1.5 billion.

    Meanwhile, UBS occupied the second position in terms of volume with eight deals, followed by Goldman Sachs with four deals, JP Morgan with three deals, and Morgan Stanley with three deals.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: “M” Mark status awarded to Prudential Hong Kong Tennis Open

    Source: Hong Kong Government special administrative region

    “M” Mark status awarded to Prudential Hong Kong Tennis Open
    “M” Mark status awarded to Prudential Hong Kong Tennis Open
    *********************************************************************

    The following is issued on behalf of the Major Sports Events Committee:      The Major Sports Events Committee (MSEC) has awarded “M” Mark status to Prudential Hong Kong Tennis Open, which will be held at the Victoria Park Tennis Court from October 26 to November 3.      The Chairman of the MSEC, Mr Wilfred Ng, said today (October 21), “We are very pleased to award the ‘M’ Mark status to the Prudential Hong Kong Tennis Open. This international event attracts numerous world-class players to compete in Hong Kong each year. It is a grand occasion for the tennis community and provides them with exciting matches and unforgettable experiences. It also serves as a good opportunity to promote tourism and the economy in Hong Kong, enhancing the city’s established professional status in the international sports arena.”      The “M” Mark System aims to encourage and help local “national sports associations” and private or non-government organisations to organise more major international sports events and nurture them into sustainable undertakings. Sports events meeting the assessment criteria will be granted “M” Mark status by the MSEC. Funding support will also be provided to some events.      For details of “M” Mark events, please visit http://www.mevents.org.hk.

     
    Ends/Monday, October 21, 2024Issued at HKT 14:00

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI: Resolutions of the General Extraordinary Shareholders Meeting of INVL Technology

    Source: GlobeNewswire (MIL-OSI)

    The resolutions of the General Extraordinary Shareholders Meeting (hereinafter – “the Meeting“) of special closed-ended type private equity investment company INVL Technology (hereinafter – “the Company”) that was held on 21 October 2024:

    1. Regarding the election of an auditor to carry out the audit of the annual financial statements and setting conditions of payment for audit services.

    Considering that PricewaterhouseCoopers, UAB has audited the Company for 10 years and, in accordance with the requirements of Regulation (EU) No. 537/2014 of the European Parliament and of the Council, can no longer continue to provide audit services, it is decided to:

    1.1.   Based on the results of the Company’s surveys of audit firms and the recommendation provided by the audit committee, to appoint BDO Auditas ir Apskaita, UAB, as the Company’s audit firm for the audit of the Company’s annual financial statements for the years 2024, 2025, and 2026, and for the assessment of the Company’s management reports.

    1.2.   To authorize the person appointed by the Management Company to sign the audit services contract, according to which the payment for the audit of the financial statements for the three financial years and the evaluation of the management reports will be the price agreed by the parties, but not exceeding 52,500 euros (excluding VAT) for the entire three-year period.

    1.3.   To stipulate that the Board of the Management Company reserves the right to increase the remuneration of the audit company by no more than 25 percent of the total remuneration approved by this decision if the scope of audit work changes significantly.

    The person authorized to provide additional information:
    Kazimieras Tonkūnas
    INVL Technology Managing Partner
    E-mail k.tonkunas@invltechnology.lt

    The MIL Network

  • MIL-OSI Asia-Pac: Speech by SCED at JUMPSTARTER Ignition Gala by Alibaba Entrepreneurs Fund (English only)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the JUMPSTARTER Ignition Gala by Alibaba Entrepreneurs Fund today (October 21):Distinguished guests, ladies and gentlemen,          Good afternoon.     Welcome to the StartmeupHK Festival 2024. It is my pleasure to join you all this afternoon at this first and foremost opening event of the Festival – JUMPSTARTER Ignition Gala by Alibaba Entrepreneurs Fund. The Gala marks the exciting launch of JUMPSTARTER, a global pitch competition organised by the Alibaba Entrepreneurs Fund, alongside the kick-off of the StartmeupHK Festival 2024.     As you all know, this Festival, which is in its ninth year now, has been receiving overwhelming support from the start-up ecosystem in Hong Kong, and serving as a powerful catalyst over time for Hong Kong’s burgeoning start-up ecosystem. The Festival this year, curated by Invest Hong Kong (InvestHK) with the theme “A Future Unlimited”, will bring together many start-ups, investors, industry leaders and tech enthusiasts from around the world, providing an international platform for knowledge exchange, networking and collaboration across various cutting-edge sectors. I can assure you about an exciting series of events in the coming full week of the StartmeupHK Festival.     As for this opening Gala, it marks the start of this year’s JUMPSTARTER, which is a global competition providing invaluable opportunities for entrepreneurs across the globe to gather in Hong Kong, pitch their ideas and business proposals, learn from mentors and investors, and most importantly, pursue their dreams in Hong Kong. I look forward to the enthusiastic participation by contestants from around the world, and wish the competition a great success.     The JUMPSTARTER is just one of the many opportunities offered in Hong Kong as a launch pad for start-ups to be groomed locally and scale globally. Being the only economy in the world where the global advantage and the China advantage come together, Hong Kong continues to maintain our uniqueness as one of the most liberal and easiest places to do business in the world: Hong Kong is once again ranked by the Fraser Institute this year as the freest economy; and we are ranked the third globally as well as the first in the Asia-Pacific region in the recent Global Financial Centres Index report. In addition, Hong Kong remains as the world’s fourth largest recipient of foreign direct investment in 2023 as revealed in the World Investment Report 2024, and continues to attract businesses and investment from around the world.     These impressive achievements are attributed to our institutional strengths, such as a robust common law legal system, an independent judiciary, a simple and low tax system, world-class professional services, start-up-and-business-friendly environment as well as other advantages guaranteed under “one country, two systems”. All of these continue to be the pillars supporting Hong Kong’s success as hubs for start-ups.     In fact, many start-ups fully recognise Hong Kong’s competitive edges. We are home to over 4 200 start-ups, which is a record high, representing a significant increase by 7 per cent year on year. In the first nine months this year, InvestHK has helped 470 overseas and Mainland enterprises to set foot or expand their business here, and over 10 per cent of them are start-ups and scale-ups from different sectors. The above encouraging results are testaments to Hong Kong’s attractiveness.     In the 2024 Policy Address announced last week, the Government has launched new initiatives to further drive economic development, which will benefit all businesses in Hong Kong, including start-ups. For instance, the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) has recently been updated to provide more flexibility and convenience for Hong Kong enterprises to invest and do business on the Mainland. As CEPA measures are nationality neutral, all companies based in Hong Kong can benefit from the latest enhancements. We would encourage more start-ups from around the world to set up their operations in Hong Kong to enjoy these advantages.     On individuals’ level, non-Chinese Hong Kong permanent residents have become eligible for the Mainland travel permit since July this year. This unprecedented measure facilitates their visits to the Mainland for business, leisure or family trips multiple times within a five-year validity period. I note that it has been well received by expatriates in Hong Kong, and encourage our overseas friends in the start-up community to all apply for the permit, if eligible, and enjoy the convenience brought by this initiative.     To facilitate your understanding of the above initiatives and many others, InvestHK, including its global network of Dedicated Teams for Attracting Businesses and Talents based in overseas Economic and Trade Offices, as well as its consultant offices, will continue to render support to you, with a view to facilitating your start-ups to set up and scale up in our city.     Looking forward, Hong Kong’s economic prospects are promising, and the Government will continue to strive to maintain a favourable business environment for start-ups as we always do. I would like to express my heartfelt gratitude to our start-up friends here today for your tremendous support to the Festival and confidence in Hong Kong. I hope you enjoy the Gala event and all the exciting events ahead, exploring collaboration opportunities and experiencing the innovative spirit that defines Hong Kong as a prime destination for start-ups.     Thank you.

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: Bank “ROSSIYA” acted as a partner of the St. Petersburg International Gas Forum-2024

    MILES AXLE Translation. Region: Russian Federation –

    Source: Bank “ROSSIA” Russia Bank –

    Press Releases and Events

    10/21/2024

    Bank “ROSSIYA” acted as a partner of the St. Petersburg International Gas Forum-2024

    Bank “ROSSIYA” acted as a partner and took part in the events of the XIII St. Petersburg International Gas Forum (SPIGF-2024), which was held from October 8 to 11.

    SPIGF is one of the most authoritative business events in the gas industry, which annually brings together leading representatives of the global community and is one of the largest international congress and exhibition projects in the oil and gas industry.

    A joint seminar of Bank “ROSSIYA” and the Gazprom Mezhregiongaz Group, dedicated to payment fee standards, was held on the sidelines of the forum. As part of the event, the Bank presented the latest developments in the field of collecting payments for gas and shared its experience in implementing all components of the Smorodina platform in Dagestan. Also during the forum, agreements on cooperation between the Bank and leading market players were signed.

    Cooperation with enterprises of the Russian gas industry is a priority for Bank “ROSSIYA”. The bank actively finances projects of gas companies, and also develops and implements progressive high-tech solutions in the field of digitalization of enterprise processes and to improve consumer convenience.

    The work of Bank “ROSSIYA” at the SPIGF-2024 forum received high praise from the organizers, guests and partners of the event.

    Back to list

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

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

    http://abr.ru/about/nevs/13755/

    MIL OSI Russia News

  • MIL-OSI: WOO X and OpenTrade enhance yield on RWA vaults through Avalanche integration

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Oct. 21, 2024 (GLOBE NEWSWIRE) — WOO X, a leading centralized crypto futures and spot trading platform, has upgraded its RWA flexible term vaults in collaboration with OpenTrade, leveraging OpenTrade’s deployment on Avalanche to enhance its offerings. By utilizing OpenTrade’s platform, WOO X seamlessly integrates and manages RWA-backed yield within its financial products, benefiting from robust off-chain infrastructure and legal expertise.

    The upgraded RWA Flexible Term Vault of WOO X and OpenTrade utilizes Avalanche’s innovative L1s to enhance liquidity and lower transaction costs. This customizable and secure platform streamlines automated processes and reduces operational inefficiencies in traditional asset management, enabling users to manage their investments more effectively. With features like instant redemption and daily compounding, WOO X RWA Flexible Term Vault addresses the growing demand for flexible and stable financial solutions, as tokenized assets are projected to reach $16.1 trillion by 2030.

    “As traditional finance increasingly enters the crypto space, our upgraded RWA flexible term vault on Avalanche is a significant advancement for WOO X. By offering opportunities backed by real-world assets like tokenized Treasury Bills, we enhance liquidity and lower transaction costs, positioning ourselves at the forefront of a trillion-dollar market projected by 2030,” said Willy Chuang, COO of WOO X.

    “The upgraded RWA flexible term vault on Avalanche exemplifies how OpenTrade enables companies like WOO X to offer seamless access to low-risk yields backed by U.S. Treasury Bills, enhancing liquidity and showcasing the utility of RWA solutions in the evolving digital finance landscape,” said David Sutter, CEO of OpenTrade.

    “WOO X and OpenTrade’s initiative underscores Avalanche’s dedication to revolutionizing digital finance. This development empowers users to access innovative financial products and services, taking advantage of the efficiencies and reduced costs enabled by our blockchain technology,” said Eric Kang, BD Manager at Avalanche.

    Unlock Exclusive Rewards with up to 13.75% APR on RWA Products!

    To celebrate this collaboration, WOO X, OpenTrade, and Avalanche are excited to launch a campaign highlighting RWA products! Users can earn a boosted yield of approximately 13.75% APR on our RWA subscription product, offering a secure and user-friendly way to achieve higher returns. This activity will run from October 21, 2024, to January 19, 2025. Click here for more details.

    To learn more about WOO X, download our app or visit WOO X

    Contact us: media@woo.network

    About WOO X

    WOO X is a global centralized crypto futures and spot trading platform offering the best-in-class liquidity and price execution. WOO X has an average daily volume exceeding $600 million and is home to hundreds of thousands of traders worldwide. WOO X traders benefit from radical transparency through our industry-first live Proof of Reserves & liabilities dashboard and the company’s mission to maintain the trust of its growing community of professional traders.

    About OpenTrade

    OpenTrade is an institutional-grade platform for RWA-backed lending and stablecoin yield products. The OpenTrade platform provides FinTechs with a white-label solution that allows them to power USDC and EURC yield products for their users, who can access them with the click of a button, and the security guarantee of a bankruptcy-remote, time-tested legal framework.

    About Avalanche Blockchain Network

    Avalanche is a high-performance blockchain platform designed for builders who need to scale. Engineered with a revolutionary three-part Layer 1 (L1) architecture, Avalanche is anchored by its Avalanche Consensus Mechanism, ensuring near-instant finality for transactions. The platform also features an open-source Layer 0 (L0) framework, enabling the seamless creation of interoperable Layer 1 blockchain with high throughput on both public and private networks.

    Supported by a global community of developers and validators, Avalanche offers a fast, low-cost environment for building the next generation of decentralized applications (dApps). With its unique blend of speed, flexibility, and scalability, Avalanche is the preferred choice for innovators pushing the boundaries of blockchain technology.

    For more information, visit avax.network

    The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.

    The content of this document has been translated into different languages and shared throughout different platforms. In case of any discrepancy or inconsistency between different posts caused by mistranslations, the English version on our official website shall prevail.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a342476e-8b1f-4a2c-a8bb-aa60980d487a

    The MIL Network

  • MIL-OSI Economics: ICC launches pioneering Principles for Sustainable Trade Finance developed with leading trade banks

    Source: International Chamber of Commerce

    Headline: ICC launches pioneering Principles for Sustainable Trade Finance developed with leading trade banks

    Existing sustainable finance frameworks often cannot be easily and objectively applied to many Trade Finance products due to their nature as a ‘flow’ product without delineated projects. The PSTF offer clear, transparent, and consistent guidelines to enable banks, corporates and investors to effectively channel capital towards sustainable and inclusive trade finance facilities while mitigating the risks associated with greenwashing.

    The PSTF contain four distinct sections:

    1. bespoke Principles for Green Trade Finance (PGTF),
    2. ICC guidance on Sustainability Linked Trade Finance,
    3. ICC guidance on Sustainability Linked Supply Chain Finance and
    4. ICC’s ambition for Social Trade Finance.

    Initiating industry-wide consultation

    The launch of the PSTF marks the commencement of an open consultation period. ICC invites all stakeholders within the trade finance industry to review the document and provide comments and feedback. This collaborative approach ensures that the principles are robust, practical, and reflective of the diverse needs and insights of industry participants.

    Following the consultation period, the PSTF will be finalised and officially released later this year, solidifying its role as a cornerstone in promoting sustainable trade finance globally.

    Online event and feedback opportunities

    To facilitate a deeper understanding of the PSTF and encourage active engagement, ICC will host an online launch event on 29 October 2024 at 13:00 CET. This session will feature a comprehensive walkthrough of the principles, followed by a 30-minute Q&A segment. Participants will have the opportunity to engage directly with the authors and contributors of the PSTF, fostering a dialogue that will shape the final version of the document.

    In addition, ICC is launching a survey designed to gather further insights and feedback from industry professionals.

    Engage and participate

    • Register for the online event: To join the online session on Tuesday 29 October, please register via this link.
    • Provide your feedback: Participate in the PSTF survey
    • Contact us: For more information on the Principles for Sustainable Trade Finance or to submit detailed comments, please reach out to:

    ICC would like to thank HSBC, Standard Chartered, Deutsche Bank, Santander, ING, CommerzBank and BCG for their substantial input into the creation of the principles.


    Read more about our work on sustainable trade and sustainable trade finance.

    MIL OSI Economics

  • MIL-OSI: DeltaPrime Reimbursement Plan

    Source: GlobeNewswire (MIL-OSI)

    ROAD TOWN, British Virgin Islands, Oct. 21, 2024 (GLOBE NEWSWIRE) — DeltaPrime, a leading DeFi prime brokerage, has unveiled a robust reimbursement plan following the recent security breach on September 16th. This resulted in a loss of $5.98 million on the Deltaprime Blue (Arbitrum) protocol. DeltaPrime committed to fully compensate all affected users through a combination of strategic measures and community-focused initiatives.

    In response to the incident, DeltaPrime has implemented a comprehensive reimbursement strategy that prioritises user recovery and long-term protocol stability. Key components of the plan include:

    • Reimbursement Tokens (rTKNs): All affected users will receive rTKNs, representing $1 of future revenue until full reimbursement is achieved. These tokens are fungible and can be exchanged for their dollar equivalent over time as DeltaPrime generates revenue.
    • Compensation: The rTKNs received by any user equates to 1.4 times their damage in the attack.
    • Stability Pool Allocation: The Stability Pool will contribute $1.33 million towards reimbursements, reducing the total impact to $4.65 million. This pool has been built through platform revenue and liquidation fees.
    • Founders’ Contribution: In an unprecedented move, DeltaPrime’s founders have committed 33% of their team allocation of PRIME tokens for sale at a discounted rate to affected users. 100% of the dollars raised will be donated in an effort to make every affected user whole as fast as possible.
    • Incentives for Continued Participation: Users who maintain their savings within the protocol will benefit from accelerated reimbursement rates, receiving repayments twice as fast compared to those who withdraw entirely. This approach encourages sustained engagement, supports the protocol’s recovery and growth and, in turn, leads to faster reimbursement for all affected parties.

    The PRIME tokens offered by the founders present a unique opportunity due to their heavily discounted price and non-inflationary mechanics. This initiative aligns with DeltaPrime’s commitment to maintaining token value while enhancing decentralisation.

    Why Full Repayment is Anticipated

    DeltaPrime’s confidence in achieving full repayment is grounded in its historical performance and robust financial health. Over its one-and-a-half years of operation, DeltaPrime has consistently demonstrated strong growth, with an average of $44 million in user deposits over 2024, and an average of $64 million over the 30 days prior to the attack. The protocol generated $2.7 million in revenue over 2024 (3.6 million annualised), showcasing its ability to generate substantial income even amid challenges within a sustained bear market. These financial metrics underpin DeltaPrime’s capability to fulfill its reimbursement commitments while continuing to innovate and expand.

    Enhanced Security Measures

    In light of the recent breach, DeltaPrime has redoubled its efforts to enhance both protocol and operational security. To reduce smart contract risk, the protocol currently is undergoing its 8th audit with renowned security provider BlockSec. Additionally, DeltaPrime has implemented rigorous operational security protocols, including comprehensive internal security workshops, a replacement of all physical devices through a reputable supply chain and enhanced monitoring systems for real-time threat detection. These measures are designed to safeguard user assets and rebuild trust within the community.

    DeltaPrime remains dedicated to rebuilding trust with its community through transparent communication and decisive action. The protocol’s ongoing security enhancements and strategic partnerships underscore its commitment to user fund safety and operational integrity.

    Detailed information about the reimbursement plan is available on DeltaPrime and any questions can be asked directly by joining the conversation on Discord.

    Contact:
    Daniel Abdel Malak
    Daniel@deltaprime.io

    Disclaimer: This content is provided by DeltaPrime. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7f298c98-42d5-4fe5-bb8e-f44ba264ef4c

    The MIL Network

  • MIL-OSI Africa: Nigeria: African Development Bank Approves $100 Million to Support Youth and Women-led Micro, Small and Medium Enterprises (MSME)

    Source: Africa Press Organisation – English (2) – Report:

    ABIDJAN, Ivory Coast, October 21, 2024/APO Group/ —

    The African Development Bank (www.AfDB.org) has approved a $100 million loan to increase access to finance for youth and women-led small and medium enterprises, under the Nigeria Youth Entrepreneurship Investment Bank (YEIB) initiative.

    The Nigeria YEIB is a pioneering institution designed to foster economic growth and job creation in the country by acting as an ecosystem anchor and convener, bringing together relevant financial and non-financial stakeholders to collaborate more effectively in support of youth entrepreneurs.

    The Bank is leading the coordination among key Nigeria YEIB anchor investors and partners, including the Federal Government of Nigeria through the Ministry of Finance Incorporated, the Nigeria Sovereign Investment Authority (NSIA), and the Development Bank of Nigeria (DBN). The Bank Group’s $100 million investment will be bolstered by an additional $25 million from DBN and $5 million from NSIA.

    The project has two main pillars: establishing the YEIB Investment Management Company to oversee three special purpose vehicles – an Equity Investment Fund (EIF), an Ecosystem Development Fund (EDF), and a Credit Guarantee Facility (CGF) – and creating these vehicles to support youth and women-led businesses. The EIF will invest in early-stage and high-growth enterprises, while the EDF will provide grants for business development service providers and reimbursable grants to youth-led businesses. The CGF will offer risk mitigation to improve access to credit for SMEs, managed by the Development Bank of Nigeria’s subsidiary, Impact Credit Guarantee Limited.

    By de-risking young entrepreneurs and fostering talent, the Bank’s YEIB initiative aims to provide the patient capital and ecosystem support needed to turn ideas into sustainable businesses, offering a long-term solution to Africa’s youth unemployment crisis.

    The Nigeria YEIB project aims to create over 161,000 direct jobs, 40% of which will be for women, and 1.4 million indirect jobs, with 35% allocated to women. It will also support more than 38,000 youth-led enterprises through financial services, and an additional 38,000 through non-financial services, with at least 40 percent of beneficiaries being women.

    Following the approval, the Bank’s Director General for Nigeria, Dr Abdul Kamara, emphasised the transformative nature of the project. “This initiative will be a game-changer for Nigeria’s economy, addressing youth unemployment and closing gender gaps through targeted entrepreneurship support,” Kamara said.

    The Director of the Bank’s Financial Sector Development Department, Mr Ahmed Attout said, “The YEIB is a transformative initiative that moves beyond project-based approaches to systemic, institutional solutions for entrepreneurship development across all sectors. By positioning Nigerian youth entrepreneurs as a high-potential investment asset class, it brings together key stakeholders to unlock financial opportunities, open new avenues for public and private sector investors, and tackle the structural challenges facing young entrepreneurs.”

    The Nigeria YEIB project is the third to be approved, with efforts ongoing to establish YEIBs in several African countries. In July 2023, the Bank approved $16 million (http://apo-opa.co/3NEU25L) for the establishment of a YEIB in Liberia, and in May 2024, approved $43 million for a project in Ethiopia (http://apo-opa.co/3Ytx8Vg) that includes the design and establishment of the country’s YEIB.

    MIL OSI Africa

  • MIL-OSI Africa: Japan: African Development Bank Celebrates Three Decades of Japan-Backed Trust Fund

    Source: Africa Press Organisation – English (2) – Report:

    TOKYO, Japan, October 21, 2024/APO Group/ —

    The African Development Bank Group (www.AfDB.org) has celebrated the 30th anniversary of  the Policy and Human Resource Development Grant (PHRDG), a bilateral trust fund created by Japan  in 1994.The initiative has contributed significantly to the development of Africa’s human capital, supporting over 100 transformational projects across various sectors.

    Presenting a commemorative publication on the trust fund at the Ministry of Finance in Tokyo on Wednesday, 16 October, Dr Akinwumi Adesina Adesina, African Development Bank Group President said the publication highlights three decades of successful collaboration and the impactful projects funded by the Policy and Human Resource Development Grant, as well as the critical role the grant has played in Africa’s socioeconomic development.

    Over the past three decades, Japan has contributed JPY 5.3 billion ($ 37.4 million) to the PHRDG, supporting 107 projects, with 96 completed and 11 ongoing as of September 2024. In recent years, the trust fund has seen a notable increase in contributions, underscoring Japan’s renewed commitment to fostering a climate-smart, resilient, inclusive, and integrated Africa.

    Japan’s Vice Minister of Finance for International Affairs, Atsushi Mimura, said he was pleased the country’s partnership with the African Development Bank Group was going well. He pledged continued support, particularly for the African Development Fund, the private sector, and Japanese and African start-ups

    “We look forward to deepening Japan’s relationship with the African Development Bank,” he said.

    Mimura described the African Development Bank Group’s partnership with the World Bank’s plan to bring electricity to 300 million Africans (Mission 300) as a powerful narrative that draws attention to the continent’s energy needs.

    Adesina commended Japan for its strong support of the African Dev?

    elopment Fund, noting that the Fund has delivered impressive results. He sought the country’s support on a wide range of issues, including the 17th general replenishment of the African Development Fund, Mission 300 (http://apo-opa.co/3YcTfy2), Special Drawing Rights, the private sector, and start-ups, among others.

     “We thank the people of Japan for standing in solidarity with the people of Africa,” Adesina said.

    Since its establishment, the PHRDG has been a vehicle for Japan to share its expertise and experience in human resource development, empowering Africans to lead the transformation of their societies and economies. The grant has supported a wide range of projects aligned with Japan and the African Development Bank Group’s shared objective of human capital development. Officials said the projects have laid the groundwork for accelerated economic growth in Africa.

    In a foreword to the Policy and Human Resource Development Grant at 30 publication, Deputy Vice Minister of Finance for International Affairs Daiho Fujii, expressed Japan’s pride in celebrating the 30th anniversary of the PHRDG.

    “Japan is leading the international community’s efforts to overcome global challenges, particularly those affecting vulnerable populations. Through the PHRDG, we provide technical cooperation to develop the human resources that will drive Africa’s socioeconomic transformation. Our partnership with the African Development Bank Group is key to realizing a more resilient and prosperous Africa.”

    As the Policy and Human Resource Development Grant enters its fourth decade, the African Development Bank Group and Japan have expressed eagerness to expand their partnership. With six new projects in the 2024–2025 pipeline, including initiatives in higher education, debt management, and climate-smart agriculture, the trust fund remains a critical tool for delivering impact across Africa, officials said.

    Both parties pledged to continue to work hand in hand to unlock the potential of Africa’s human capital, fostering innovation and economic development for generations to come.

    Japan–Africa Dream Scholarship Program: Investing in the Future

    Among the most impactful PHRDG-funded initiatives is the Japan-Africa Dream Scholarship Program (JADS), launched in 2017. This program aims to develop Africa’s human capital by offering scholarships to high-achieving African students for master’s studies in fields such as agriculture, development economics, energy, and public health. To date, the program has awarded scholarships to 23 students from 10 African countries, two-thirds of whom are women.

    Graduates of the JADS program have gone on to make significant contributions to their home countries.  Alumni include Mary Yeboah Asantewaa from Ghana, who now works at SORA Technology in Accra, leveraging drone technology to control infectious diseases, and Glory Sibale from Malawi, who joined Tokyo’s Taiyo-Yuka recycling company, focusing on sustainable agricultural project management.

    As part of his mission to Japan, Adesina also met with Nobumitsu Hayashi, the Governor of the Japan Bank for International Cooperation, to expand collaboration in key areas, including agriculture, healthcare, energy access, support for youth entrepreneurs, critical minerals, and regional corridors.

    Later Wednesday, Adesina met with the leadership of the Association of African Economic and Development Japan, where both parties discussed potential collaborations for impactful projects. He continued with meetings with Kanetsugu Mike, Chairman of Mitsubishi UFJ Financial Group, and Ken Shibuya, Co-Chairman of the Global South Africa Committee of Keizai Doyukai (Japan Association of Corporate Executives).

    The African Development Bank president invited  business leaders to the 2024 Africa Investment Forum to be held in Rabat in December. Adesina also hosted representatives of the African diplomatic corps, development partners, and the private and public sectors, where they discussed leveraging co-creative relationships with Japanese companies and institutions.

    MIL OSI Africa

  • MIL-OSI Russia: HSE scientists presented developments related to the use of AI in medicine

    MILES AXLE Translation. Region: Russian Federation –

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

    Artificial intelligence will not replace a doctor, but it can be a great assistant. At the same time, healthcare needs high-tech products that can quickly analyze and monitor the condition of patients. HSE scientists have used AI for preoperative planning and postoperative evaluation of results in spinal surgery and developed an automatic intelligent system for assessing the biomechanics of the arms and legs.

    At the joint scientific seminar of the strategic project “AI technologies for humans” (as part of the Priority 2030 program), HSE scientists presented two developments related to the use of artificial intelligence in medical practice. This area is not new for the Higher School of Economics, noted HSE Vice-Rector Elena Odoevskaya in her opening remarks. Despite the fact that the university does not have educational programs in medicine, it still deals with medical products and plans to enter this market.

    “In terms of goals and objectives, we must understand that this is a product, not just research. This means that we must have partners, including external ones, including industrial ones, and we must understand how this product will continue to live with us or without us. This is a question of how we implement it,” she emphasized.

    Spine Marking App

    The first report was devoted to the use of AI for preoperative planning and postoperative outcome assessment in spinal surgery. Chief Scientific Officer International Laboratory of Dynamic Systems and Applications (NRU HSE – Nizhny Novgorod) Vladimir Klinshov spoke about how computer vision technologies can improve the speed and quality of spinal X-ray analysis, helping to optimize the routine work of neurosurgeons. The working title of the product is VerteScan (from the word vertebra – vertebra). This is a service for viewing and analyzing X-ray images of the human spine, including an automatic marking system based on artificial intelligence. “We are making a specific and very utilitarian tool for automatic marking and analysis of spinal X-ray images. We want to relieve the doctor of a fairly routine part of his work, leaving him with the most important decisions. This product is made by surgeons for surgeons. This means that it will be intuitively understandable to doctors, it will be comfortable for them to use, and doctors will need it,” he said.

    Spinal pathology accounts for 76% of patient visits to the neurological service, and 72% of visits result in temporary disability. Every year, more than a thousand surgical interventions on the spine are performed at the University Clinic of the Privolzhsky Research Medical University of the Ministry of Health of the Russian Federation (PIMU — project partner).

    VerteScan will help to determine the patient’s anatomy, the course of his disease, select the minimum permissible volume of surgical intervention, carry out a personalized selection of implants and surgical techniques to achieve the optimal result, and also predict the behavior of intact sections of the spine taking into account the change in biomechanics as a result of the intervention.

    “There are many options for performing surgical interventions for spinal diseases. And each of the possible approaches must be carefully planned. Adequate preparation will lead to an adequate result, when we can not only perform the tasks that we set before the operation, but also evaluate and prevent negative changes in adjacent segments of the spine. Using the basic tools of the service that are already working, we can evaluate the parameters unique to each person – for example, the sagittal balance of the spine. It will be possible to plan the installation of implants so as not to disturb these parameters if they are normal, or we will be able to predict how much we will correct these parameters, how much we will change the local anatomy in order to bring these values u200bu200bto normal and ensure a good quality of life for the patient,” explained the team’s neurosurgeon Anatoly Bulkin.

    Key partners for the project may include medical institutions, manufacturers of medical implants, and professional associations of orthopedic and spinal surgeons. A free trial version of the software is planned to attract initial users and collect feedback, while premium features will be available by subscription or one-time payment.

    If the surgical intervention on the spine is performed suboptimally, it will lead to rapid wear of the intact spinal motor segments, and the treatment result will be worse than the disease itself, said Andrey Bokov, head of the neurosurgery department at PMU.

    “If you do not take into account all possible parameters, the patient feels well after the operation for the first few years at most, and then decompensation sets in. This person is on sick leave for a long time, he is excluded from social life. This burden is sometimes even heavier than a life-threatening disease. Relatives who care for a patient with limited mobility are also involved. If we manage to reduce the percentage of such cases, the social effect will be very high,” he emphasized.

    Physiotherapy under AI control

    The second report was devoted to an automatic intelligent system designed to assess the biomechanics of the arms and legs. This system uses machine learning algorithms to analyze biomechanical data, which can significantly improve the diagnosis and rehabilitation of patients. It was presented by the project leader, research fellow Laboratory of Theory and Practice of Decision Support Systems of the Faculty of Informatics, Mathematics and Computer Science of the National Research University Higher School of Economics in Nizhny Novgorod Andrey Kovalchuk. He emphasized that diseases of the musculoskeletal system are called the non-infectious epidemic of the 21st century. A promising direction for the rehabilitation of patients with such pathologies is remote rehabilitation using digital technologies. This requires the presence of hardware and software systems (HSS) for video motion capture.

    The PACs developed to date for remote motor rehabilitation have common drawbacks: high cost, complexity of operation, and the need for a doctor to be present at all times. This makes them inaccessible for mass use.

    Remote rehabilitation will increase the number of patients per doctor by reducing the time of face-to-face interaction, but at the same time will improve the quality of service by transferring some of the doctor’s functionality to AI.

    The patient will no longer need to visit a hospital, while maintaining a personalized approach and a flexible rehabilitation plan based on objectively measurable parameters.

    “Within the framework of this project, it is planned to create a prototype of an automated system (mobile application) based on computer vision technology and designed for remote controlled rehabilitation of patients with musculoskeletal pathology, including after endoprosthetic surgery. With the help of this application, the doctor will be able to create an individual training program for the patient, and will also be able to control the following indicators: the ratio of correctly/incorrectly performed repetitions per session, the maximum, minimum and median joint flexion angles,” said Andrey Kovalchuk.

    He emphasized that currently there are no domestic analogues of the mobile solution, and Western ones cannot be used in rehabilitation on the territory of the Russian Federation. The competitiveness of the system will be determined by its autonomy, efficiency and accessibility for a wide range of users, regardless of their location and financial status.

    The application will not only collect and analyze video data of movement scenarios and transmit them to the doctor for monitoring and correction, but also interact with the user in real time through voice commands, voicing the mistakes and events made by the user.

    Most neurological and orthopedic diseases are accompanied by movement disorders, said Anna Belova, head of the department of medical rehabilitation at PIMU, chief neurologist of the Ministry of Health of the Nizhny Novgorod Region. A patient discharged from the hospital should be regularly monitored by a doctor at home, do gymnastics for many months. But in reality, this does not happen due to a shortage of personnel. Therefore, the emphasis is placed on remote rehabilitation all over the world.

    “The basis of recovery is not medication, it is not even surgery, it is therapeutic exercise. Movement is the basis of recovery, and not only for patients, but also for healthy people as they age. But these movements must be performed regularly and correctly – this is very important. For example, those who have undergone endoprosthetics should not perform a number of movements – for example, they cannot cross their legs, bend their knee more than 90 degrees, otherwise this will lead to dislocation of the joint. Therefore, this feedback for independent exercises is extremely important,” she explained.

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

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

    http://vvv.hse.ru/nevs/scene/977872653.html

    MIL OSI Russia News

  • MIL-OSI China: Brick by Brick, Xi Jinping drives BRICS cooperation

    Source: China State Council Information Office

    As Chinese President Xi Jinping and a host of other leaders gather in Kazan, Russia, for the 16th BRICS summit, the world is once again turning its limelight on the burgeoning international mechanism for how it will push forward self-development and respond to global woes.

    A steadfast champion of BRICS cooperation, Xi once compared its five members back then to the five fingers of one hand: They are short and long if extended, but form a powerful fist if clenched together. Now that hand has grown bigger and stronger, as its membership expanded last year, yet the essence of Xi’s metaphor is just becoming more relevant.

    With the world trudging on in a new period of turbulence and transformation, the leader of the largest developing country is poised to help guide BRICS, the leading echelon of the Global South, to play a bigger role in building a better shared future for humanity.

    Chinese President Xi Jinping poses for a group photo with other leaders attending the BRICS-Africa Outreach and BRICS Plus Dialogue in Johannesburg, South Africa, Aug. 24, 2023. [Photo/Xinhua]

    Golden value

    BRICS, an acronym for Brazil, Russia, India, China, and South Africa, is literally called “gold bricks” in Chinese, indicating optimism for its great potential and shining future.

    The sanguine view features prominently in Xi’s engagement with the group. He has consistently placed BRICS high on China’s foreign policy agenda. His first appearance on the multilateral stage as China’s head of state was at the 2013 BRICS summit in Durban, South Africa, and he visited all other four BRICS countries during the first two years of his presidency.

    “China led by President Xi Jinping has contributed significantly to the success of BRICS,” noted Bunn Nagara, a senior China researcher in Malaysia.

    Thanks to the joint efforts of its members, the golden value of BRICS has kept rising. World Bank data show that the share of BRICS in global GDP grew from 18 percent in 2010 to about 26 percent in 2021, with increases in all years during the period.

    Among the drivers of its remarkable growth is a strong orientation toward real results. “BRICS is not a talking shop, but a task force that gets things done,” Xi once stressed.

    Following this spirit, practical cooperation has always been the foundation of the BRICS mechanism, a good example of which is the launch of the New Development Bank (NDB). Headquartered in Shanghai, the multilateral institution had approved 105 projects in all member countries for approximately 35 billion U.S. dollars by the end of 2023.

    In view of BRICS’ evolving development needs, Xi, at the 2017 summit in China’s coastal city of Xiamen, joined other member leaders in formally incorporating cultural and people-to-people exchanges into the engines of BRICS cooperation, in order to further enhance the bond between these nations and reinforce the foundation of BRICS interaction.

    Powered by the three engines, namely political and security, economic and financial, as well as cultural and people-to-people exchanges, the BRICS cooperation has witnessed even more substantial progress and growing popular support.

    The unique value of the BRICS cooperation goes beyond economic terms, and the mechanism is an innovation of international cooperation, which is in marked contrast to some protectionist, exclusive political, military or economic alliances in the West, said Wang Lei, director of the BRICS Cooperation Research Center at Beijing Normal University.

    In Xi’s words, the BRICS cooperation transcends the old formula of political and military alliances, the old mindset of drawing lines on the basis of ideology as well as the obsolete notion of “you-win-I-lose” and “winner-takes-all.”

    The golden track record, as many observers have pointed out, has not only amply busted various gloom-and-doom claims such as that BRICS is nothing but “a motley crew,” but also significantly increased its appeal to the rest of the world.

    This aerial photo taken on Sept. 28, 2021 shows the headquarters building of New Development Bank (NDB) in east China’s Shanghai. [Photo/Xinhua]

    Greater BRICS

    On Aug. 24 morning last year, the Sandton Convention Center in Johannesburg erupted with applause upon the announcement of BRICS’ historic expansion. That, Xi said at the press conference, demonstrates “the determination of BRICS countries and developing nations to unite.”

    Since the inception of the BRICS mechanism, openness and inclusiveness have remained its members’ abiding commitment. Xi has repeatedly emphasized that BRICS countries gather not in a closed club or an exclusive circle. “A tree cannot make a forest,” he said as early as at his BRICS summit debut in Durban in 2013. A year later at the Fortaleza summit in Brazil, he proposed the “BRICS spirit” of openness, inclusiveness, and win-win cooperation.

    With such an open mind, the group developed a tradition of inviting leaders of other countries to its summits. Then at the 2017 gathering in Xiamen, an ancient port city that has evolved into a dynamic hub in China’s opening-up and reform, Xi built on that outreach practice and put forward the “BRICS Plus” program, encouraging more participation of other emerging markets and developing nations.

    In fact, this southern Chinese city of Xiamen happened to be where Xi came to work as deputy mayor in 1985 at 32. Now, under Xi’s initiative, an innovation base for the BRICS partnership on the new industrial revolution has taken root there.

    Over the years, with profound changes reshaping the world at a degree rarely seen in history, the Chinese president has unwaveringly championed openness and cooperation. “Under the new circumstances, it is all the more important for BRICS countries to pursue development with open doors and boost cooperation with open arms,” Xi said at the 14th BRICS summit in 2022.

    A year later, more than 60 countries gathered in Johannesburg for the BRICS summit. The gathering “is not an exercise of asking countries to take sides, nor an exercise of creating bloc confrontation,” Xi said. “Rather, it is an endeavor to expand the architecture of peace and development.”

    Other than the countries that became new full members on Jan. 1, 2024, more than 30 nations have also formally applied to join BRICS, while many other developing countries are seeking deeper cooperation with the group.

    “There is a reason why these countries choose to join BRICS,” said Mekhri Aliev, a board director of the BRICS innovation base in Xiamen. “Because they see future, they see potentials and opportunities within the BRICS.”

    A visitor views a model of Xiamen Metro train at the exhibition of BRICS New Industrial Revolution 2024 in Xiamen, southeast China’s Fujian Province, Sept. 10, 2024. [Photo/Xinhua]

    Bigger voice

    Three months after its expansion decision, BRICS convened an extraordinary joint summit on the Gaza situation with leaders of invited members, as well as UN Secretary-General Antonio Guterres. That was a first-of-its-kind meeting for the group. The meeting, as Xi said, marks “a good start” for greater BRICS cooperation following its enlargement.

    Commenting on this summit, Al Jazeera said that leading countries of the Global South are looking for “a greater say in a global order dominated by the West.” Steven Gruzd, an analyst at the South African Institute of International Affairs, said: “It does reflect on the growing assertiveness and confidence of the BRICS grouping, not waiting for the West.”

    BRICS is an important force in shaping the international landscape. Advancing a more just and equitable international order has been a consistent theme in Xi’s remarks on BRICS cooperation.

    Effective coordination between BRICS members and other Global South countries is “adding more bricks to the global governance architecture,” said Wang Lei, the Chinese expert with Beijing Normal University.

    The New Development Bank (NDB) exemplifies this effort. “The establishment of the bank serves as a beneficial supplement and improvement to the existing financial system,” Xi said, “which can encourage deeper reflection and more active reforms in the global financial system.”

    During a meeting with Dilma Rousseff, former Brazilian President and incumbent NDB chief, in Beijing in 2023, Xi called on the NDB to help with the modernization of more developing countries. Rousseff shares Xi’s vision. “It is a vision that we don’t want BRICS to speak just for a few countries. What we want is for most countries to be part of BRICS,” she told Xinhua.

    As Xi has observed, strengthening global governance is the right choice if the international community intends to share development opportunities and tackle global challenges.

    “Economically, non-Western nations — with BRICS at the vanguard — are pushing the globe into a new reality: An emerging economic, social, and monetary status quo that is upending what the world has accepted as normal for nearly eight decades,” Jeff D. Opdyke, a global investment expert, has observed.

    To Guan Zhaoyu, a research fellow with the Eurasian Studies Institute at Renmin University of China, BRICS cooperation “is neither anti-Western nor aimed at overthrowing the existing global order, but rather constructively reforming its unfair aspects to give more opportunities to the developing world.”

    Xi maintains that development is an inalienable right of all countries, not a privilege of a few countries. Under his grand vision to build a community with a shared future for mankind, China has been joining hands with other developing countries in advancing their respective modernization.

    China will always be a member of the Global South and the developing world, Xi has said on various occasions.

    “President Xi has sent out a very clear message: China will unite with other emerging markets and developing countries in the process of global modernization and make sure no one is left behind,” said Guan.

    MIL OSI China News

  • MIL-OSI Asia-Pac: Government announces subscription and allocation results of Silver Bond

    Source: Hong Kong Government special administrative region

    Government announces subscription and allocation results of Silver Bond
    Government announces subscription and allocation results of Silver Bond
    ***********************************************************************

         The Government announced today (October 21) the subscription and allocation results of the new batch of Silver Bond.      According to the subscription information submitted by the Placing Banks and the Designated Securities Brokers, as at the close of the subscription period at 2pm on October 14, 2024, a total of 300,413 valid applications were received for a total of HK$69,981,970,000 in principal amount of bonds.      The final issuance amount of the Silver Bond will be HK$55 billion, higher than the target issuance amount of HK$50 billion. Allocation is conducted in accordance with the mechanism set out in the Issue Circular dated September 30, 2024. The valid applications received have been allocated bonds up to a maximum of 24 units (with each unit being HK$10,000). For the 166,177 applications seeking 23 or fewer units, they will be allocated the full amounts applied for. The remaining 134,236 applications (i.e. those applying for more than 23 units) will be allocated 23 units each and then entered into a ballot. Of these applications, 23,737 will be allocated one additional unit.      The Silver Bond will be issued on October 23, 2024, under the retail part of the Infrastructure Bond Programme. Notifications on individual allocation results, applicable subscription moneys and refund of application moneys in excess of the allocated portion will be sent to applicants in accordance with the schedule set out in the Issue Circular.      The Financial Secretary, Mr Paul Chan, said, “This is the first batch of Silver Bond issued under the Government’s Infrastructure Bond Programme, which will support infrastructure projects for the good of the economy and people’s livelihood, and provide our citizens with a ‘sense of participation’ and a ‘sense of gain’ in support of Hong Kong’s long-term development projects. The positive response in subscription shows that Silver Bond continues to be well-received by senior residents. Silver Bond can provide a safe, reliable and low-risk investment option with steady returns for senior residents, rendering financial services means to better serve the needs of the public and the community. We will keep the effectiveness of the scheme and future arrangements under review, taking account of investor response, market conditions and other relevant considerations.”

     
    Ends/Monday, October 21, 2024Issued at HKT 16:30

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Russia: Recruitment has begun for the targeted training program in procurement management from Gazprom Neft

    MILES AXLE Translation. Region: Russian Federation –

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

    In October, the traditional recruitment for the additional professional education program “Procurement Management at Oil and Gas Complex Enterprises” started, which is implemented by the Institute of Industrial Management, Economics and Trade with the support of PJSC Gazprom Neft. In the 2024-2025 academic year, this is already the eleventh launch of the advanced training program.

    This program trains specialists in procurement and logistics for the oil and gas industry. The training is targeted and lasts two semesters, intended for master’s students, fifth-year specialists and fourth-year bachelor’s students of SPbPU. To enroll in the program, you must have an average diploma grade of at least 4.0 and be ready to undergo an internship in any region where Gazprom Neft subsidiaries are present.

    Each year, no more than 13 students are admitted to the program, each of whom undergoes a multi-stage selection process. After submitting an application, including a questionnaire, resume, and motivation letter, the applicant must undergo verbal and digital testing, as well as an interview with Gazprom Neft representatives.

    During their studies, students master about 20 educational modules. Among them: organization of procurement activities, project supply management, management of relationships with counterparties, transport and warehouse logistics, inventory management, basics of accounting and taxation in procurement. Classes are taught by teachers of the Polytechnic University and invited experts from Gazprom Neft.

    After the theoretical course, students undergo a mandatory four-week internship at the Gazprom Neft group of companies. The program ends with the defense of their diploma theses. Students who have proven themselves during their studies and internship are offered jobs at Gazprom Neft or its subsidiaries located in many cities in Russia.

    Training in the program and summer practice of students are financed by PJSC Gazprom Neft.

    The additional education program has been implemented by the Higher School of Industrial Management of the Institute of Industrial Management, Economics and Trade on the basis of the Master’s program “Management in the Oil and Gas Complex”, within the framework of cooperation with Gazprom Neft since 2015.

    You can follow the news about the program on the website and in the university’s social networks, as well as in the group “Management in the oil and gas complex”.

    Contacts for admission questions:

    From SPbPU: program administrator Vyacheslav Dmitrievich Melehin, e-mail: v4mr@yandex.ru

    From Gazprom Neft: Ekaterina Igorevna Ershova, e-mail: dpo@gazprom-neft.ru

    Link to the registration form

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

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

    http://www.spbstu.ru/media/nevs/education/recruitment has begun for the targeted-training-programme-for-procurement-management-from-Gazprom-neft/

    MIL OSI Russia News

  • MIL-OSI United Kingdom: New Scottish benefit for pensioners

    Source: Scottish Government

    Pension Age Disability Payment launches in pilot locations

    A new disability benefit for people of State Pension age opens today for new applications from people living in five local authority areas.  

    Pension Age Disability Payment is the 15th benefit administered by Social Security Scotland. It is for people of State Pension age and over who are disabled or have a long-term health condition that means they need help looking after themselves or supervision to stay safe; or are terminally ill 

    People who live in Argyll & Bute, Highland, Aberdeen City, Orkney and Shetland can now apply. The payment will be available across Scotland by 22 April next year. 

    It is not means-tested and is worth between £290 and £434 a month depending on the needs of the person who gets it.  

    Pension Age Disability Payment is replacing Attendance Allowance in Scotland, which is delivered by the Department for Work and Pensions (DWP). People do not need to apply separately as their award will automatically be moved to Social Security Scotland, starting early 2025. 

    There is a separate fast-track application process for people who are terminally ill and eligible people will be entitled to the higher rate of payment regardless of how long they have had a terminal illness. 

    Social Justice Secretary Shirley-Anne Somerville said: 

    “As people continue to face a cost of living crisis it is more important than ever that older disabled people across Scotland get all the financial support they are entitled to. 

    “Today we are launching Pension Age Disability Payment, our 15th benefit, in five locations before it is rolled out across Scotland later next year.  

    “This new benefit has been developed by listening to older disabled people and we have made many changes, including making it easier for them to nominate someone to support them in their engagement with Social Security Scotland, something they told us was important to them. 

    “I would encourage anyone who thinks they are eligible for Pension Age Disability Payment to apply. It’s important they get the money they need to help them look after themselves, stay safe and get support to live with the dignity and respect that we all deserve as we get older.”  

    Debbie Horne, Scotland Policy and Public Affairs Manager at Independent Age, said:  

    “We welcome today’s launch of Pension Age Disability Payment in the first five local authority areas. Support for the costs related to disability while in later life are an essential part of our social security system and a vital part of enabling dignity and independence as we age. 

    “Putting dignity and respect at the heart of how the payment is delivered is essential. We hope changes made to the payment, such as making it simpler for people at the end of their life to get support, result in an improved experience for older people applying for the payment in Scotland. 

    “We encourage all older people living in the pilot areas who may be eligible for Pension Age Disability Payment to apply, or get in touch with an independent advice service, such as Independent Age, who can help to ensure older people in Scotland receive all of the support they are entitled to.” 

    Tommy Campbell, Executive Committee member at The Scottish Pensioners’ Forum and poverty campaigner said: 

    “The Scottish Pensioners’ Forum, and other organisations, worked extensively with the Scottish Government and Social Security Scotland to help develop a fairer and more just application system for pensioners with disabilities and more complex needs in Scotland. 

    “We support many people of Stage Pension age and over with long-term health conditions such as dementia, Alzheimer’s and arthritis who would really benefit from this financial support. 

    “We hope that the roll out of this pilot programme over the coming months will demonstrate and deliver on this.” 

    MIL OSI United Kingdom

  • MIL-OSI: Bitget Announces Pre-Market Trading for Cros Token (CROS) AI Platform for In-Game Advertising

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Oct. 21, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of Cros Token (CROS) in pre-market trading, allowing users to trade the token ahead of its official spot trading debut. The pre-market period will run from October 17, 2024, 10:00 (UTC), to October 23, 2024, 10:30 (UTC), with spot trading beginning shortly after on October 23, 2024, at 11:00 (UTC). This early trading option is designed to give users a unique opportunity to participate in the CROS market prior to its full availability.

    Bitget’s pre-market trading platform allows users to engage in over-the-counter transactions of new tokens before their official listing. This feature offers a peer-to-peer marketplace where buyers and sellers can negotiate prices, facilitating advanced liquidity and strategic investment opportunities. Participants can secure coins at favorable prices, allowing for optimized investments without the immediate need for sellers to possess the coins.

    Cros Token (CROS) is an Ethereum Layer 2 token with an advanced AI platform designed for in-game advertising. This platform connects advertisers, developers, and a global audience of over 3 billion players, providing developers with tools to monetize games and enabling advertisers to reach a vast, diverse gaming ecosystem. With non-disruptive, immersive ads integrated directly into gameplay, the platform offers advertisers the ability to engage users across mobile, PC, console, and gaming metaverses.

    CROS has a total supply of 1,000,000,000 tokens, positioning itself as a forward-looking project in the intersection of blockchain, gaming, and advertising sectors. Its unique approach to in-game advertising and developer collaboration aims to enhance player experiences while generating revenue streams within the growing digital entertainment industry.

    Bitget’s introduction of CROS through its pre-market mechanism shows the platform’s strategy to provide users early access to emerging blockchain projects. This early engagement benefits both the token’s market exposure and user participation, making it an integral part of Bitget’s expanding crypto ecosystem.

    Bitget has established itself as one of the leading crypto spot trading platforms, offering a diverse selection of over 800 coins and more than 900 trading pairs across various ecosystems, including Ethereum, Solana, Base, and recently, TON. The pre-market platform, launched in April 2024, has facilitated early access to over 150 high-profile projects such as EigenLayer (EIGEN), Zerolend (ZERO), Notcoin (NOT), and ZkSync (ZKSYNC), providing a unique opportunity for investors to engage with emerging tokens at an early stage. The addition of CROS to this lineup further enhances Bitget’s commitment to offering users access to promising Web3 projects.

    CROS’s introduction on Bitget’s platform signifies a growing interest in AI-gaming projects that incorporate both gaming mechanics and financial elements, creating a symbiotic relationship between entertainment and decentralized finance. This listing is expected to attract a diverse range of participants, from avid gamers to crypto enthusiasts, who are eager to explore and invest in the evolving landscape of blockchain.

    For more information on CROS, please visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading, AI bot and other trading solutions. Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including being the Official Crypto Partner of the World’s Top Professional Football League, LALIGA, in EASTERN, SEA and LATAM, as well as a global partner of Olympic Athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

    For more information, visit: WebsiteTwitterTelegramLinkedInDiscordBitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1aef26a1-22b6-43d4-adf2-d838cba25432

    The MIL Network

  • MIL-OSI: BlackRock® Canada Announces October Cash Distributions for the iShares® ETFs

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 21, 2024 (GLOBE NEWSWIRE) — BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK), today announced the October 2024 cash distributions for the iShares ETFs listed on the TSX or Cboe Canada which pay on a monthly basis. Unitholders of record of a fund on October 28, 2024 will receive cash distributions payable in respect of that fund on October 31, 2024.

    Details regarding the “per unit” distribution amounts are as follows:

    Fund Name Fund Ticker Cash Distribution Per Unit
    iShares 1-10 Year Laddered Corporate Bond Index ETF CBH $0.049
    iShares 1-5 Year Laddered Corporate Bond Index ETF CBO $0.050
    iShares S&P/TSX Canadian Dividend Aristocrats Index ETF CDZ $0.109
    iShares Equal Weight Banc & Lifeco ETF CEW $0.059
    iShares 1-5 Year Laddered Government Bond Index ETF CLF $0.032
    iShares 1-10 Year Laddered Government Bond Index ETF CLG $0.037
    iShares S&P/TSX Canadian Preferred Share Index ETF CPD $0.055
    iShares US Dividend Growers Index ETF (CAD-Hedged) CUD $0.074
    iShares Convertible Bond Index ETF CVD $0.074
    iShares Global Monthly Dividend Index ETF (CAD-Hedged) CYH $0.076
    iShares Canadian Financial Monthly Income ETF FIE $0.040
    iShares U.S. Aggregate Bond Index ETF XAGG $0.101
    iShares U.S. Aggregate Bond Index ETF(1) XAGG.U $0.073
    iShares U.S. Aggregate Bond Index ETF (CAD-Hedged) XAGH $0.088
    iShares Core Canadian Universe Bond Index ETF XBB $0.079
    iShares Core Canadian Corporate Bond Index ETF XCB $0.069
    iShares ESG Advanced Canadian Corporate Bond Index ETF XCBG $0.119
    iShares U.S. IG Corporate Bond Index ETF XCBU $0.114
    iShares U.S. IG Corporate Bond Index ETF(1) XCBU.U $0.083
    iShares Core MSCI Global Quality Dividend Index ETF XDG $0.082
    iShares Core MSCI Global Quality Dividend Index ETF(1) XDG.U $0.059
    iShares Core MSCI Global Quality Dividend Index ETF (CAD-Hedged) XDGH $0.059
    iShares Core MSCI Canadian Quality Dividend Index ETF XDIV $0.104
    iShares Core MSCI US Quality Dividend Index ETF XDU $0.058
    iShares Core MSCI US Quality Dividend Index ETF(1) XDU.U $0.042
    iShares Core MSCI US Quality Dividend Index ETF (CAD-Hedged) XDUH $0.053
    iShares Canadian Select Dividend Index ETF XDV $0.112
    iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged) XEB $0.054
    iShares S&P/TSX Composite High Dividend Index ETF XEI $0.109
    iShares Core Canadian 15+ Year Federal Bond Index ETF XFLB $0.110
    iShares Flexible Monthly Income ETF XFLI $0.185
    iShares Flexible Monthly Income ETF(1) XFLI.U $0.134
    iShares Flexible Monthly Income ETF (CAD-Hedged) XFLX $0.185
    iShares S&P/TSX Capped Financials Index ETF XFN $0.142
    iShares Floating Rate Index ETF XFR $0.074
    iShares Core Canadian Government Bond Index ETF XGB $0.049
    iShares Global Government Bond Index ETF (CAD-Hedged) XGGB $0.038
    iShares Canadian HYBrid Corporate Bond Index ETF XHB $0.073
    iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) XHD $0.083
    iShares U.S. High Dividend Equity Index ETF XHU $0.078
    iShares U.S. High Yield Bond Index ETF (CAD-Hedged) XHY $0.083
    iShares U.S. IG Corporate Bond Index ETF (CAD-Hedged) XIG $0.063
    iShares 1-5 Year U.S. IG Corporate Bond Index ETF (CAD-Hedged) XIGS $0.102
    iShares Core Canadian Long Term Bond Index ETF XLB $0.062
    iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) XPF $0.066
    iShares High Quality Canadian Bond Index ETF XQB $0.053
    iShares S&P/TSX Capped REIT Index ETF XRE $0.059
    iShares ESG Aware Canadian Aggregate Bond Index ETF XSAB $0.047
    iShares Core Canadian Short Term Bond Index ETF XSB $0.073
    iShares Conservative Short Term Strategic Fixed Income ETF XSC $0.056
    iShares Conservative Strategic Fixed Income ETF XSE $0.054
    iShares Core Canadian Short Term Corporate Bond Index ETF XSH $0.060
    iShares ESG Advanced 1-5 Year Canadian Corporate Bond Index ETF XSHG $0.116
    iShares 1-5 Year U.S. IG Corporate Bond Index ETF XSHU $0.118
    iShares 1-5 Year U.S. IG Corporate Bond Index ETF(1) XSHU.U $0.085
    iShares Short Term Strategic Fixed Income ETF XSI $0.061
    iShares ESG Aware Canadian Short Term Bond Index ETF XSTB $0.047
    iShares 0-5 Year TIPS Bond Index ETF (CAD-Hedged) XSTH $0.048
    iShares 0-5 Year TIPS Bond Index ETF XSTP $0.053
    iShares 0-5 Year TIPS Bond Index ETF(1) XSTP.U $0.038
    iShares 20+ Year U.S. Treasury Bond Index ETF (CAD-Hedged) XTLH $0.109
    iShares 20+ Year U.S. Treasury Bond Index ETF XTLT $0.110
    iShares 20+ Year U.S. Treasury Bond Index ETF(1) XTLT.U $0.080
    iShares Diversified Monthly Income ETF XTR $0.040
    iShares S&P/TSX Capped Utilities Index ETF XUT $0.081

    (1) Distribution per unit amounts are in U.S. dollars for XAGG.U, XCBU.U, XDG.U, XDU.U, XFLI.U, XSHU.U, XSTP.U, XTLT.U

    Estimated October Cash Distributions for the iShares Premium Money Market ETF

    The October cash distributions per unit for the iShares Premium Money Market ETF are estimated to be as follows:

    Fund Name Fund Ticker Estimated Cash Distribution Per Unit
    iShares Premium Money Market ETF CMR $0.195

    BlackRock Canada expects to issue a press release on or about October 25, 2024, which will provide the final amounts for the iShares Premium Money Market ETF.

    Further information on the iShares Funds can be found at http://www.blackrock.com/ca.

    About BlackRock

    BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit http://www.blackrock.com/corporate | Twitter: @BlackRockCA

    About iShares ETFs

    iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1400+ exchange traded funds (ETFs) and US$4.2 trillion in assets under management as of September 30, 2024, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

    iShares® ETFs are managed by BlackRock Asset Management Canada Limited.

    Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.

    Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”). Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). TSX is a registered trademark of TSX Inc. (“TSX”). All of the foregoing trademarks have been licensed to S&P Dow Jones Indices LLC and sublicensed for certain purposes to BlackRock Fund Advisors (“BFA”), which in turn has sub-licensed these marks to its affiliate, BlackRock Asset Management Canada Limited (“BlackRock Canada”), on behalf of the applicable fund(s). The index is a product of S&P Dow Jones Indices LLC, and has been licensed for use by BFA and by extension, BlackRock Canada and the applicable fund(s). The funds are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, any of their respective affiliates (collectively known as “S&P Dow Jones Indices”) or TSX, or any of their respective affiliates. Neither S&P Dow Jones Indices nor TSX make any representations regarding the advisability of investing in such funds.

    MSCI is a trademark of MSCI, Inc. (“MSCI”). The ETF is permitted to use the MSCI mark pursuant to a license agreement between MSCI and BlackRock Institutional Trust Company, N.A., relating to, among other things, the license granted to BlackRock Institutional Trust Company, N.A. to use the Index. BlackRock Institutional Trust Company, N.A. has sublicensed the use of this trademark to BlackRock. The ETF is not sponsored, endorsed, sold or promoted by MSCI and MSCI makes no representation, condition or warranty regarding the advisability of investing in the ETF.

    Contact for Media:
    Reem Jazar
    Email: reem.jazar@blackrock.com

    The MIL Network

  • MIL-OSI: Gilat to Report Third Quarter 2024 Results on Wednesday, November 13th

    Source: GlobeNewswire (MIL-OSI)

    PETAH TIKVA, Israel, Oct. 21, 2024 (GLOBE NEWSWIRE) — Gilat Satellite Networks Ltd. (Nasdaq: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, today announced that it will release its third quarter 2024 financial results on Wednesday, November 13th, 2024.

    Conference Call and Webcast 
    Following the release, Adi Sfadia, Chief Executive Officer, and Gil Benyamini, Chief Financial Officer, will discuss Gilat’s third quarter 2024 results and business achievements and participate in a question and answer session: 

    Date:  Wednesday, November 13, 2024
    Start:  09:30 AM EST / 16:30 IST
    Dial-in: US: 1-888-407-2553
      International: +972-3-918-0609
       

    A simultaneous webcast of the conference call will be available on the Gilat website at http://www.gilat.com and through this link: https://veidan.activetrail.biz/gilatq3-2024

    The webcast will also be archived for a period of 30 days on the Company’s website and through the link above.

    About Gilat 
    Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we create and deliver deep technology solutions for satellite, ground, and new space connectivity and provide comprehensive, secure end-to-end solutions and services for mission-critical operations, powered by our innovative technology. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.

    Our portfolio includes a diverse offering to deliver high-value solutions for multiple orbit constellations with very high throughput satellites (VHTS) and software-defined satellites (SDS). Our offering is comprised of a cloud-based platform and high-performance satellite terminals; high-performance Satellite On-the-Move (SOTM) antennas; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense, field services, network management software, and cybersecurity services.

    Gilat’s comprehensive offering supports multiple applications with a full portfolio of products and tailored solutions to address key applications including broadband access, mobility, cellular backhaul, enterprise, defense, aerospace, broadcast, government, and critical infrastructure clients all while meeting the most stringent service level requirements. For more information, please visit: https://gilat.com/

    Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel, including those related to the current terrorist attacks by Hamas, and the war and hostilities between Israel and Hamas, and Israel and Hezbollah and Iran; and other factors discussed under the heading “Risk Factors” in Gilat’s most recent annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and Gilat undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Gilat Satellite Networks
    Hagay Katz, Chief Products and Marketing Officer 
    hagayk@gilat.com

    Gilat Satellite Networks
    Mayrav Sher, Head of Finance and Investor Relations 
    MayravS@gilat.com

    The MIL Network

  • MIL-OSI Global: Turkey attempts to broker power between east and west as it bids to join Brics

    Source: The Conversation – UK – By Bulent Gökay, Professor of International Relations, Keele University

    In a significant diplomatic manoeuvre that may have far-reaching implications for the international system of alliances, Turkey has submitted a formal request to join Brics, the group of emerging-market economies, signalling its intent to diversify its partnerships beyond the west.

    The Brics grouping, named after Brazil, Russia, India, China, and South Africa, comprises some of the world’s largest economies. Earlier this year, it welcomed four new members: Iran, the United Arab Emirates, Ethiopia and Egypt. Although Saudi Arabia has been invited to join, the official process is yet to take place. Often viewed as an alternative to western-led organisations such as the EU, G7 and Nato, Brics signifies a significant shift in global power dynamics.

    Ankara’s decision could be a strategy to strengthen relations with non-western powers as the global economy’s centre continues to shift away from the west, but is also about chasing more trade with Brics members.

    Announced ahead of the Brics summit starting on October 22, Turkey’s application has raised questions about the broader implications for its role within Nato. If accepted, Turkey would be the first Nato member of Brics. However, this is not to say that Turkey is entirely turning away from the west. Turkey’s institutional ties with the western world run deep. At most, this move signals Turkey’s president Recep Tayyip Erdoğan’s intention to increase the government’s flexibility in its foreign relations.

    Erdoğan said on September 1 that this move shows Ankara’s aims to cultivate ties with all sides simultaneously to “become a strong, prosperous, prestigious and effective country if it improves its relations with the east and the west simultaneously”.

    Turkey’s acceptance into the group could be discussed during the upcoming 16th Brics summit, in Kazan, Russia. Malaysia, Thailand and Azerbaijan are among other countries expecting to join.

    Between east and west

    Turkey’s balancing act between east and west is not a recent phenomenon but a continuation of its policies since the end of the cold war, and is in line with its geographical position at the edge of Europe and Asia.

    This strategy has been central to Turkey’s intricate, at times conflicting, approach to international relations and remains pertinent in an increasingly complex world. The shift from a unipolar world – the idea that the world is dominated by one super power – to one with more global powers has led all governments to reassess their foreign policies, and Ankara is no different.

    Turkey’s longstanding commitment to Nato makes it highly unlikely that its willingness to join the Brics group signifies a move away from its western allies. Since 2016, Turkey has strengthened its economic, political, and military ties with Russia and China, and its recent application to the Brics group reflects this trend. According to some experts in Turkish foreign policy, while this development may raise concerns in western capitals, there is no pressing reason for the west to be alarmed about Turkey making concessions to Russia or acting independently of Nato.

    Map of the Black Sea region.
    Shutterstock

    There are two incentives driving Turkey’s application. According to Sinan Ülgen, director of the Istanbul-based Centre for Economic and Foreign Policy Studies: “The first is Turkey’s aspiration to enhance its strategic autonomy in foreign policy which essentially involves improving ties with non-western powers like Russia and China in a way to balance the relationship with the west. The second is the accumulated frustrations over the relationship with the west. For example, the EU has not even been able to decide on the start of negotiations on the updating of the customs union, its trade deal with Turkey that dates back to 1996.”




    Read more:
    Bottled up in the Black Sea: Russia is having a dreadful naval war, hindering its great power ambitions


    Control of the Black Sea

    Turkey has been keen on joining the Brics group since 2018. Putin, during a meeting with Turkish foreign minister Hakan Fidan in Moscow in June this year, welcomed Ankara’s interest and promised that Moscow “will support this desire to be together with the countries of this alliance [Brics], to be together, closer, to solve common problems”.

    Since the war in Ukraine, Russia has been making extra efforts to gain the support of more countries. Turkey holds a particular significance in this effort due to its strategic location, and its control of the Black Sea straits, an essential trade route for both Ukraine and Russia. The Black Sea has played an important part in the Ukraine war, and Turkey has been part of an alliance that has stymied Russia’s attempts to fully control the waters, and allowed Ukraine to continue to use the waters.

    The Montreux Convention regulates maritime traffic through the Turkish Straits. The convention distinguishes between Black Sea and non-Black Sea powers, acknowledging specific advantages for the former, which includes Ukraine and Russia.

    In March 2022, Erdoğan indicated that the convention allows Turkey to restrict the passage of naval vessels belonging to warring parties. Putin may be hoping that with Turkey on board as a Brics ally he may be able to persuade Ankara to give him more leeway. Currently Russia’s inability to control the Black Sea and cargo ships within it are seriously weakening its ability to constrain Ukraine’s economy.

    Turkey anticipates that Brics membership will enhance its geopolitical standing and expand its economic influence, especially in non-western markets. Most importantly, leveraging its geopolitical position to influence global affairs and pursuing a more balanced and diversified foreign policy.

    It is evident that Turkey aims to maintain its connections with the west while also desiring the flexibility to engage with other regions. It is highly improbable that this would lead to a significant overhaul of Turkey’s ties with western countries. It may, however, cause concern among fellow Nato members about how much they can rely on Turkey in the future.

    Bulent Gökay does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Turkey attempts to broker power between east and west as it bids to join Brics – https://theconversation.com/turkey-attempts-to-broker-power-between-east-and-west-as-it-bids-to-join-brics-238383

    MIL OSI – Global Reports

  • MIL-OSI Global: A new ‘race science’ network is linked to a history of eugenics that never fully left academia

    Source: The Conversation – UK – By Lars Cornelissen, Academic Editor, Radboud University

    Antonio Marca/Shutterstock

    The Guardian and anti-fascist group Hope Not Hate have revealed the existence of a new network of far-right intellectuals and activists in an undercover investigation. Called the Human Diversity Foundation (HDF), this group advocates scientific racism and eugenics. Although it presents itself as having a scientific purpose, some of its figureheads have political ambitions in Germany and elsewhere.

    Research shows these kinds of groups are nothing new and are linked to eugenics groups that have been active since the second world war. Defending the scientific legitimacy of eugenics, these organisations worked to keep a discredited intellectual tradition alive.

    Although it has been debunked by decades of research evidence, eugenics once enjoyed a reputation as a credible science since it emerged in the late 19th century.

    First coined by Francis Galton, a prominent Victorian statistician and evolutionary theorist, the term eugenics refers to the study of what Galton considered favourable and unfavourable genetic patterns within the population. Galton believed that the principles of evolutionary theory could be applied to the human species and used to intervene in its genetic fitness.

    Galton and other early eugenicists advocated policies that would ensure that groups they believed held “desirable” traits, such as high intelligence, creative ability, or productivity, could reproduce in greater numbers than groups with less favourable genetics. Some even believed that “undesirable” groups should be prevented from reproducing, through forced sterilisation or abortion.

    Ruling elites used eugenics to justify brutal treatment of disabled people, ethnic minorities, colonial populations, and LGBTQ+ people.

    In the 1930s these ideas came to form the bedrock of Nazi race doctrine. Eugenics was a key component of Nazism and shaped both formal fascist ideology and how the Nazi regime treated its victims.

    Before the second world war, many researchers regarded eugenics as a legitimate science. But in the aftermath of the war came a shift in attitudes, and scientists and society came to view eugenics as scientifically false and morally objectionable.

    Instead of disappearing from academia, however, eugenics merely retreated into the
    margins. Racial research became the focus of a handful of groups intent on keeping
    the eugenics tradition alive.

    Though they operated on the fringes of academia, these groups received financial support from private donors. The most prominent of these donors was the Pioneer Fund, a charity established in 1937 to support race science and white supremacy in the US and elsewhere.

    These groups were close-knit. United by a shared sense of exclusion from the
    academic mainstream, the people involved were prolific writers and together
    generated a large body of work. They inflated their own citation counts by frequently referencing each other’s work and, in this way, established the impression of scientific rigour.

    Pseudoscientific journals

    Seeking to salvage the reputation of eugenics as a legitimate science, these groups
    tended to cluster around journals and periodicals.

    Chief among these was Mankind Quarterly, established in 1961 by a group called the International Association for the Advancement of Ethnology and Eugenics (IAAEE). Some decades later ownership of the journal was transferred to the Ulster Institute for Social Research, a eugenicist think tank founded and directed by Richard Lynn. Lynn is widely considered the intellectual figurehead of 21st-century eugenics.

    The Mankind Quarterly quickly became known as a bastion of scientific racism. It published work by notorious pseudoscientists, neo-fascists, and such controversial political figures as former British MP Enoch Powell, remembered for appealing to racial hatred in his speeches.

    Other similar journals emerged in the following decades. In France, Nouvelle École (“New School”) was established in 1967 by a white nationalist group. In Germany, Neue Anthropologie (“New Anthropology”) was first published in 1973.

    These publications were part of the same networks. Their editors received funding from the same sources, including the Pioneer Fund, they published translations of each other’s articles, and their editorial boards overlapped.

    Eugenics today

    Reported to have developed out of the Pioneer Fund and to have taken ownership of Mankind Quarterly, the HDF is the successor to earlier groups like the IAAEE and the Ulster Institute.

    Today, the eugenics movement is experiencing a period of uncertainty following the
    death of Richard Lynn in July 2023. When he died, Lynn was the director of the Pioneer Fund and the editor-in-chief of Mankind Quarterly. Organisations like HDF, led by people who have worked closely with Lynn, are trying to fill that void.

    Whether the HDF will survive public scrutiny remains to be seen. But the broader networks from which it emerged are arguably stronger than at any previous moment in post-war history, facilitated by the rise of the far right and online extremism. All of which means it has never been more important to remember the tradition’s history.

    Lars Cornelissen does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. A new ‘race science’ network is linked to a history of eugenics that never fully left academia – https://theconversation.com/a-new-race-science-network-is-linked-to-a-history-of-eugenics-that-never-fully-left-academia-241646

    MIL OSI – Global Reports

  • MIL-OSI Asia-Pac: President Lai names Taiwania Capital Chairman Lin Hsin-i as 2024 APEC envoy 

    Source: Republic of China Taiwan

    President Lai names Taiwania Capital Chairman Lin Hsin-i as 2024 APEC envoy 
    2024-10-21

    On October 21 Presidential Office Spokesperson Karen Kuo (郭雅慧) announced that President Lai Ching-te has invited Lin Hsin-i (林信義), chairman of Taiwania Capital Management Corporation, to act as his representative to attend the 2024 APEC Economic Leaders’ Meeting (AELM) to be held in Lima, Peru from November 15 to 16.
    Spokesperson Kuo said that Chairman Lin, currently a senior advisor to the president and advisor on the Executive Yuan’s Economic Development Commission, possesses experience in both the public and private sectors. Beginning as a corporate manager, Chairman Lin has served as vice chairperson of China Motor Corporation and chairman of Tokio Marine Newa Insurance Corp. Ltd., she said. Using his corporate management experience to transition into major government roles, the spokesperson noted, he has served as minister of economic affairs, vice premier, minister of the Council for Economic Planning and Development (now National Development Council) of the Executive Yuan, and chairman of the Industrial Technology Research Institute. The spokesperson emphasized that Chairman Lin possesses a deep understanding of national economic and trade policy formulation and implementation.
    Spokesperson Kuo stated that Chairman Lin has attended APEC meetings three times and is thus well acquainted with the forum’s operation and issues. She explained that he represented Taiwan at the APEC Ministerial Meeting at both the 2000 meeting in Brunei and the 2001 meeting in Shanghai, and that he was appointed by former President Chen Shui-bian as leader’s representative in 2005, when he led a delegation to attend the AELM in Busan, Korea. She noted that he successfully completed his mission in each of these meetings.
    The theme for this year’s APEC in Peru is Empower, Include, Grow, Spokesperson Kuo noted, with three major policy priorities: trade and investment for inclusive and interconnected growth, innovation and digitalization to promote transition to the formal and global economy, and sustainable growth for resilient development. She said that all of these priorities share similarities with the important policies that Taiwan’s government is actively promoting. APEC has also attached a high level of importance to cooperation between the public and private sectors in recent years, the spokesperson said, and President Lai thus invited Chairman Lin to attend the meeting as our leader’s representative. She said the president expressed hope that with his professional expertise and abundant experience, Chairman Lin will present a clear picture of Taiwan’s government policy for APEC and enhance Taiwan’s global visibility and importance.
    Taiwan has been an active APEC participant since joining in 1991, and will not only conduct exchanges on issues at this meeting, but also continue to create opportunities for cooperation in a variety of fields in the future, Spokesperson Kuo said. Alongside other APEC members, she said, Taiwan will promote cooperation in such areas as green and digital transformation, digital innovation, digital health, small and medium-sized enterprise growth, women’s economic empowerment, inclusive growth, and food security. The spokesperson said that together, we will help bring about sustainable and mutual prosperity, and that we will show through action that Taiwan is willing and able to contribute even more to the world.

    MIL OSI Asia Pacific News