NewzIntel.com

Category: Economy

  • MIL-OSI USA: SBA Shatters $500 Million Mark in Texas Disaster Relief Loans

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, announced today that SBA has approved more than $500 million in federal disaster loans for Texas businesses and residents impacted by recent disaster declarations. According to Sánchez, SBA has approved $140,398,750 for businesses and $364,812,900 for residents to help rebuild and recover from these disasters.

    “SBA’s disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible,” said Sánchez. “Don’t miss out on any assistance you may be entitled to by not registering for help. You don’t need to wait for your insurance to settle or obtain a contractor’s estimate,” he added.

    SBA continues to provide one-on-one assistance to disaster loan applicants in all the federal-state Disaster Recovery Centers and SBA Business Recovery Centers located throughout Texas. Please see a complete listing of locations and hours at SBA.gov/disaster.

    Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

    “SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” Sánchez continued. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.”

    Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.

    Interest rates can be as low as 4 percent for businesses, 3.25 percent for private nonprofit organizations and 2.688 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

    Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.

    Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    For SBA declaration 20320 for severe storms, straight-line winds, tornadoes and flooding that occurred April 26–June 5, 2024, the deadline to apply for a loan for property damage has passed, small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size still have until Feb. 18, 2025, to apply for an economic injury disaster loan to help meet working capital needs caused by the disaster. Economic injury loan assistance is available regardless of whether the business suffered any property damage.

    For SBA declaration 20445 for Hurricane Beryl that occurred July 5-9, the deadline to apply for property damage is Oct. 10, 2024. The deadline to apply for economic injury is April 14, 2025.

    SBA will accept all disaster loan applications up to 60 days after the filing deadline without an explanation of why you were delayed. You can apply online using the MySBA portal at https://lending.sba.gov, or by coming into our centers.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit http://www.sba.gov.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Accounts show Government choosing pain over a plan

    Source: Council of Trade Unions – CTU

    “The Government accounts released today show that spending and debt continues to grow under the current Government, but there is no plan to deliver a better economy,” said NZCTU Te Kauae Kaimahi Economist Craig Renney.

    “Net Core Crown Debt increased by $20bn last year, with revenue from taxation also rising by $8bn. The OBEGAL deficit increased $3.4bn last year alone, to $12.9bn.

    Finance Minister Nicola Willis admitted, “The accounts show the corrosive impact of low growth and low productivity…and we are cutting back on the investments needed to lift both.” Yet there is no plan to solve this problem, Renney said.

    “The Government accounts showed our overreliance on income tax and GST taxes to balance the books. Source deductions from wages increased 10.1% during the last year. The GST take increased by 4.1%. But other sources of taxation have not increased at the same rate, or have fallen in the form of corporate taxation (-5.9%). We need a better conversation about how taxes are being levied and why.” Renney said.

    “Spending on welfare has increased by 8%, with Jobseeker Support expenses rising by 17%. Welfare payments would be higher if the one-off $600m cost-of-living support is removed. Unemployment is expected to rise significantly in the future, meaning that welfare expenses will be higher in the future.”

    Renney said “The Government has provisioned $500m for the Cook Straight Ferry (iREX) Costs, which is only the cost of the works abandoned to date. This doesn’t include the cost of cancelling the ferry contract, nor the cost of purchasing the replacement ferries necessary. The Government is likely facing a $bn bill for that decision alone.”

    “The Minister signalled new cuts in her speech at the event, while requiring new economic growth to deliver on their financial aspirations. Yet decisions like iREX show that the Government has no means of delivering sustainable growth. Health New Zealand is looking for $2bn in savings right now, yet the Government is looking for further savings in spending on top.”

    “The Government’s fiscal strategy needs to change. Government debt is low by international standards, and there is no shortage of projects to invest in. These would improve employment and economic outcomes – both of which will benefit working people. Yet the Government is wedded to plan that will see unemployment rise, and investment fall. It’s time for a better plan.” Renney said.

    MIL OSI New Zealand News –

  • MIL-OSI USA: FEMA’s Temporary Housing for Wildfire Survivors Extended to February 2026, Supporting their Continued Recovery

    Source: US Federal Emergency Management Agency

    Headline: FEMA’s Temporary Housing for Wildfire Survivors Extended to February 2026, Supporting their Continued Recovery

    FEMA’s Temporary Housing for Wildfire Survivors Extended to February 2026, Supporting their Continued Recovery

    HONOLULU – At the request of the state of Hawaiʻi, the Federal Emergency Management Agency (FEMA) has approved a one-year extension of the Individuals and Households Program (IHP), including Financial Assistance and Direct Temporary Housing Assistance for survivors of the Maui wildfires.

    The 18-month initial period of assistance for FEMA IHP was set to end Feb.10, 2025 but has now been extended to Feb. 10, 2026.

    Under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, FEMA may extend the period of assistance due to extraordinary circumstances. Last year’s wildfires caused unprecedented damage to Lahaina and impacted numerous households, businesses, communities and the infrastructure on Maui.

    FEMA is working closely with the state of Hawai‘i, local officials and volunteers to help survivors in temporary housing find permanent solutions. Disaster case managers are also providing personalized assistance.

    FEMA approved the Direct Lease as a form of Direct Temporary Housing Assistance in September 2023 and currently has 1,194 households occupying FEMA-provided units. 

    During the extended period, survivors who continue to live in a FEMA-provided temporary housing unit are generally expected to work on their permanent housing plan and start paying rent, depending on their financial ability. The rent amount would be based on the U.S. Department of Housing and Urban Development (HUD) Fair Market Rent. 

    FEMA will send occupants an advance notice of the rent requirement.

    Occupants who provide documentation of their post-disaster income that meets or is below HUD’s very low-income limit will qualify for fully reduced rent of $50 per month without having to appeal and submit documentation of pre- or post-disaster housing costs. 

    Occupants with household incomes above the HUD very low-income limit will only have to provide documentation of post-disaster housing costs for FEMA to evaluate the amount of rent to be charged based on their financial ability. 

    FEMA will conduct outreach to assist occupants of temporary housing units with the documentation necessary to evaluate their ability to pay. This effort is designed to reduce the need for occupants to appeal the rent amount determined by FEMA. 

    For more information on temporary housing, call the Individual Assistance Housing Hotline at 808-784-1600. Or contact 2-1-1 to reach the disaster case management program. 

    You may also call FEMA Helpline at 800-621-3362. Helpline operators can assist you in many languages. If you use a relay service such as Video Relay Service, captioned telephone service or others, give FEMA your number for that service when you apply.

    You may get help in person at:
    Lahaina Gateway (next to Ace Hardware)
    Maui County Office of Recovery – West Maui
    8 a.m. – 4:30 p.m.

    CNHA Office (next to Maui Mall)
     Kākoʻo Relief & Aid Services Center
    153 E. Kamehameha Ave. Suite 101

    Kahului, HI 96732
    9 a.m. – 5 p.m.

    For the latest information on the Maui wildfire recovery efforts, visit mauicounty.gov, mauirecovers.org, fema.gov/disaster/4724 and Hawaii Wildfires – YouTube. Follow FEMA on social media: @FEMARegion9 and facebook.com/fema. You may also get disaster assistance information and download applications at sba.gov/hawaii-wildfires. 

    shannon.carley

    MIL OSI USA News –

  • MIL-OSI China: US Fed minutes show officials divided on half point rate cut in September

    Source: China State Council Information Office 3

    U.S. Federal Reserve officials were divided on the size of the rate cut in its recent policy meeting, according to the minutes of the Fed’s Sept. 17-18 meeting released Wednesday.

    “Noting that inflation was still somewhat elevated while economic growth remained solid and unemployment remained low, some participants observed that they would have preferred a 25 basis point reduction of the target range at this meeting, and a few others indicated that they could have supported such a decision,” the minutes showed.

    Eleven out of the 12 voting members of the Federal Open Market Committee (FOMC) voted for the 50 basis point reduction, according to an earlier statement. Voting against this action was Michelle W. Bowman, who preferred to lower the target range for the federal funds rate by 25 basis points.

    “Several participants noted that a 25 basis point reduction would be in line with a gradual path of policy normalization that would allow policymakers time to assess the degree of policy restrictiveness as the economy evolved,” the minutes said.

    “A few participants also added that a 25 basis point move could signal a more predictable path of policy normalization,” the minutes continued.

    The minutes also noted that a few participants remarked that the overall path of policy normalization, rather than the specific amount of initial easing at this meeting, would be more important in determining the degree of policy restriction.

    After its Sept. 17-18 meeting, the Fed slashed the target range for the federal funds rate by 50 basis points to 4.75 percent to 5 percent, amid cooling inflation and a weakening labor market. This marked the first rate cut in over four years and signals the start of an easing cycle.

    U.S. Federal Reserve Chair Jerome Powell said recently that if the economic data stays stable, future rate cuts are expected to be smaller than the half-percentage-point reduction in September.

    According to data released by the Labor Department on Friday, U.S. employers added 254,000 jobs in September, as unemployment rate edged down to 4.1 percent, signaling that the labor market remains steady.

    The Fed will hold its next policy meeting from Nov. 6 to 7. The Chicago Mercantile Exchange Group’s FedWatch tool, which acts as a barometer for the market’s expectation of the Fed funds target rate, showed that as of Wednesday, the probability of the Fed cutting rates by 25 basis points at the November meeting is nearly 80 percent.

    MIL OSI China News –

  • MIL-OSI China: Cypriot gov’t approves urgent dispatch of humanitarian aid for Lebanon

    Source: China State Council Information Office

    The Cypriot government has approved an urgent dispatch of medicine and other consumables for Lebanon, government spokesman Konstantinos Letymbiotis said on Wednesday.

    The spokesman said the health ministry has studied a request by Lebanon, “for the provision of pharmaceutical assistance and consumables to address the humanitarian crisis.”

    He added that the Cypriot government has also approved additional financial aid specifically for the Palestinians.

    The spokesman also announced that more than 2,000 people of 20 different nationalities have been evacuated from Lebanon through Cyprus.

    The vast majority of them have already departed to their countries of origin, with the remaining being hosted at accommodation facilities prepared by Cypriot authorities until they find flights out of Cyprus, he said.

    MIL OSI China News –

  • MIL-OSI China: Growth target within reach despite challenges

    Source: China State Council Information Office

    A worker is pictured at the production line of a textile company in Jimo district of Qingdao city, East China’s Shandong province, Oct 7, 2024. [Photo/Xinhua]

    China will likely hit this year’s annual growth target of around 5 percent with a projected pickup in fourth-quarter GDP growth, given the recently unveiled, bolder than expected stimulus policy measures and forthcoming incremental policies, economists said.

    They also said that the weaker than expected economic indicators in recent months point to persistent challenges stemming from sluggish domestic demand, prompting calls for intensified policy support to sustain growth. The key focus should be expanding effective investment, boosting consumption and stabilizing the real estate sector, they added.

    The economists’ comments came after Premier Li Qiang emphasized on Tuesday the need for faster and more effective implementation of economic policies to achieve China’s growth targets for the year, as authorities ramped up measures in recent days to further bolster the world’s second-largest economy.

    Speaking at a symposium with business leaders and economists, Li called for swift actions to put in place the newly rolled out policies, which are designed to stabilize growth and enhance support for businesses.

    Citing a package of incremental policies announced recently, Guo Liyan, deputy director of the Chinese Academy of Macroeconomic Research’s Economic Research Institute, said the move aims to address pressing challenges and pressures faced by the economy, which will significantly boost confidence among investors and consumers.

    “In fact, some economic indicators have shown fluctuations since the third quarter, and the economic contribution in the fourth quarter is significant for the entire year,” she said. “Implementing a package of incremental policies at this juncture is conducive to strengthening confidence for meeting the annual growth target.”

    To promote closer monetary and fiscal policy coordination, the People’s Bank of China, the country’s central bank, and the Ministry of Finance held their first joint working group meeting on the treasury bond trade, vowing to provide a conducive market environment for treasury bond trade operations, according to a statement released on Wednesday.

    In addition, as part of the country’s ongoing efforts to meet the annual growth target, the National Development and Reform Commission announced on Tuesday that the country will move ahead to this year part of the investment plans set for 2025.

    Raymond Ma, Invesco’s chief investment officer for the Chinese mainland and Hong Kong, said: “We believe that the NDRC’s further confirmation, together with the recently announced supportive monetary and fiscal policies, will bolster the economy. This reinforces our long-term positive outlook on Chinese equities.”

    After a strong rally following stimulus announcements by Chinese authorities, Chinese stocks dropped on Wednesday as the market eagerly awaited bolder moves to revive the economy, with the benchmark Shanghai Composite Index slumping 6.62 percent to close at 3,258.86 points.

    “While achieving the around 5 percent annual growth target may be challenging, the government’s newly announced policies are expected to provide substantial stimulation for the economy in 2024 and beyond,” Zhu Baoliang, former chief economist of the State Information Center, said, adding that the nation can meet its annual growth target this year.

    Du Yue, an associate researcher at the investment research institute of the NDRC, said that to coordinate macro policies for this year and next to ensure steady growth, it is important to optimize and implement policies aimed at spurring investment as soon as possible, including enlarging the support provided by local government special bonds.

    Du said that the policy of moving to this year the allocation of 200 billion yuan ($28.3 billion) in investment plans and projects that were set for 2025 will help the country’s fixed-asset investment maintain reasonable growth while lifting market expectations.

    Zhang Ming, deputy director of the Institute of Finance and Banking, which is part of the Chinese Academy of Social Sciences, suggested at a recent forum establishing a national institution to manage the acquisition of existing commercial housing in lower-tier cities, which will help avoid the creation of new local government debt.

    MIL OSI China News –

  • MIL-OSI Economics: ADB Publishes Sovereign Default and Loss Rates, Demonstrating Low Credit Risk in Sovereign Operations

    Source: Asia Development Bank

    News Release | 10 October 2024
    Read time: 2 mins

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    MANILA, PHILIPPINES (10 October 2024) — The Asian Development Bank (ADB) has published a comprehensive report detailing its sovereign default and loss rates over a 34-year period. This report is made in keeping with ADB’s commitment to data transparency and shows the remarkable credit performance of loans to its developing member countries (DMCs).

    The report reveals that ADB has not lost principal, interest, or fees on the more than $250 billion of loans it has extended in its sovereign operations since 1990.

    The report indicates that the average default rate on the ordinary capital resources sovereign portfolio is 0.54%. It further demonstrates that ADB experienced zero new defaults from 2010 to 2021. The low default rate confirms the strength of ADB’s relationship with its DMCs and the preferred creditor treatment accorded to ADB.

    “The average default rate of the sovereign operation is comparable to that of an investment grade portfolio. Compiling and making these data points available to the public will help build a better understanding of emerging market debt originated by multilateral development banks (MDBs),” ADB Vice-President for Finance and Risk Management Roberta Casali said. “It will also allow external parties to make more accurate assessments of the risks involved in investing through or with us.”

    ADB regularly contributes credit data to the Global Emerging Markets Risk Database Consortium (GEMs). The consortium, which includes data from 25 MDBs and development finance institutions, provides insights into the risks associated with investing in emerging markets. The transparency efforts of ADB and GEMs are in line with the recommendations from the Independent Expert Panel commissioned by the G20. These recommendations aim to enhance data transparency as part of an overall effort to optimize balance sheets and increase the lending capacity of MDBs.

    ADB continuously explores ways to effectively manage its capital to help the region address simultaneous crises. In 2023, it unlocked $100 billion in additional lending capacity over the next decade by updating its Capital Adequacy Framework. ADB is working with its development finance partners to mobilize investments in emerging markets through innovative solutions, including risk sharing and structured approaches.

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

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    MIL OSI Economics –

  • MIL-OSI China: Fed minutes show officials divided on half point rate cut

    Source: China State Council Information Office

    U.S. Federal Reserve officials were divided on the size of the rate cut in its recent policy meeting, according to the minutes of the Fed’s Sept. 17-18 meeting released Wednesday.

    “Noting that inflation was still somewhat elevated while economic growth remained solid and unemployment remained low, some participants observed that they would have preferred a 25 basis point reduction of the target range at this meeting, and a few others indicated that they could have supported such a decision,” the minutes showed.

    Eleven out of the 12 voting members of the Federal Open Market Committee (FOMC) voted for the 50 basis point reduction, according to an earlier statement. Voting against this action was Michelle W. Bowman, who preferred to lower the target range for the federal funds rate by 25 basis points.

    “Several participants noted that a 25 basis point reduction would be in line with a gradual path of policy normalization that would allow policymakers time to assess the degree of policy restrictiveness as the economy evolved,” the minutes said.

    “A few participants also added that a 25 basis point move could signal a more predictable path of policy normalization,” the minutes continued.

    The minutes also noted that a few participants remarked that the overall path of policy normalization, rather than the specific amount of initial easing at this meeting, would be more important in determining the degree of policy restriction.

    After its Sept. 17-18 meeting, the Fed slashed the target range for the federal funds rate by 50 basis points to 4.75 percent to 5 percent, amid cooling inflation and a weakening labor market. This marked the first rate cut in over four years and signals the start of an easing cycle.

    U.S. Federal Reserve Chair Jerome Powell said recently that if the economic data stays stable, future rate cuts are expected to be smaller than the half-percentage-point reduction in September.

    According to data released by the Labor Department on Friday, U.S. employers added 254,000 jobs in September, as unemployment rate edged down to 4.1 percent, signaling that the labor market remains steady.

    The Fed will hold its next policy meeting from Nov. 6 to 7. The Chicago Mercantile Exchange Group’s FedWatch tool, which acts as a barometer for the market’s expectation of the Fed funds target rate, showed that as of Wednesday, the probability of the Fed cutting rates by 25 basis points at the November meeting is nearly 80 percent.

    MIL OSI China News –

  • MIL-Evening Report: Peter Weir’s The Cars That Ate Paris – a driving force in Ozploitation filmmaking

    Source: The Conversation (Au and NZ) – By Mark David Ryan, Professor, Film, Screen, Animation, Queensland University of Technology

    IMDB

    It has been 50 years since the cinema release of Peter Weir’s iconic, offbeat, cult classic The Cars That Ate Paris. The film seared the image of a silver Volkswagen Beetle weaponised with deadly spikes into the national imagination. It also helped shape the tropes of Ozploitation filmmaking within the history of Australian cinema.

    Main character Arthur Waldo (Terry Camilleri) and his older brother drive through idyllic countryside, filmed like a tourism commercial. But when a sign diverts them off the highway towards the fictitious town of Paris, it soon becomes clear the place survives on a “crash economy”.

    Older men in the community orchestrate car crashes on the road into Paris and survivors are taken to a hospital where a psychopathic doctor experiments on them. The townsfolk trade luggage from the cars for food and clothing and wrecks are salvaged by youths who terrorise the community.

    The mayor of Paris (John Meillon) pities Arthur and adopts him into his family. Arthur is eventually forced to work as the town’s sole parking inspector, gripped by a phobia of driving, having caused more than one death from behind the wheel.

    A uniquely Australian genre

    Cars was Australia’s first “car crash” film. These were Ozploitation films, which privileged “low” culture and sensationalist sex, violence, nudity or gore to shock viewers after the R rating was introduced in 1971.

    The Mad Max franchise later popularised the car-crash trope to create what has been regarded as a uniquely Australian film genre in the 1970s and 1980s. Movies in this canon included Chain Reaction (1980), Dead End Drive-In (1986) and Road Games (1981).

    Both The Cars That Ate Paris and Weir’s next feature – Picnic at Hanging Rock (1975), which would catapult him onto the global stage – marked a critical turning point for Australian cinema. They generated increased interest from distributors and film buyers in international markets and established the Australian Gothic style.

    Cars is one of our most iconic Australian horror movies, but it is paradoxically a movie most Australians have never seen.

    ‘No one leaves Paris … no one.’

    The slow burn of success

    Cars was Weir’s second feature film and a far more polished effort than his first experimental horror. Homesdale (1971) is about the owners of a guesthouse performing hideous social experiments on characters already suffering trauma.

    Cars was the first Australian movie to screen at France’s prestigious Cannes Film Festival. It marked a significant achievement for a local movie during the rebirth of the local movie industry, after the production of fiction movies had collapsed during the 1950s.

    To market the film, Car’s producers drove the spiked Volkswagen around Cannes’ streets in an ingenious attempt to hype its screening during a packed festival schedule. The film was well received, but as critic David Stratton observed, it proved just too different from anything Australian filmmakers had made before, and indeed to anything being made anywhere.

    The film failed to secure a distributor or reach large audiences at home or abroad – though it was released several years later in North America as The Cars That Eat People.

    A cult following

    A key reason for the movie’s slow reception was also why it became a cult classic: it defies filmic categories. It was originally promoted as a horror movie before being marketed as an art film. This was partly because the movie’s tone shifts jarringly from parody and black comedy to social commentary, before settling on all-out horror.

    The film was later released with a different title.
    IMDB

    The story is mostly a dark comment on authority, normality and car culture, which descends into schlock violence in the final act. After the older patriarchy punishes youths for terrorising the streets, a gang of monstrous cars – including the iconic porcupine VW beetle – idle on a darkened hill to the sound of animal noises. The killer cars attack the town, leading to murder, mayhem and a violent battle.

    Authur, drawn into the fight, kills one of the youths by repeatedly reversing over him. But rather than express shock or regret, he delights at being cured of his phobia. Arthur drives out of town joyously as survivors of the carnage flee the burning town.

    Some things don’t change

    The movie’s longevity comes from how it tackles social issues at the heart of the national character. Onscreen we see a dark critique of our obsession with cars and the “hoon culture” that results in tragic speeding or drink-driving-related deaths every year.

    The movie also examines tensions between generations. The older, conservative generation arranges car crashes before hypocritically attending church services and preaching justice. The younger hoons bristle at being controlled in a town where they see no future.

    One of the movie’s lasting thematic contributions to Ozploitation film is Weir’s depiction of the economic fragility and inopportunity of rural economies that lead to absurdly immoral activities.

    More recently, the 2010 film The Clinic adapted this premise by portraying the small town of Montgomery as reliant on an illegal international adoption ring. Townsfolk steal babies and force their mothers to fight to the death in an abandoned abattoir while affluent foreign couples watch on monitors to determine which baby they will adopt.

    The Clinic is a bleak, absurd example. But it shows how The Cars That Ate Paris continues to influence Australian cinema in profound and surprising ways.

    Mark David Ryan has received funding from the Australian Film Institute Research Collection (AFIRC) fellowship and is a co-founding member of the Streaming Industries and Genres Network (SIGN).

    – ref. Peter Weir’s The Cars That Ate Paris – a driving force in Ozploitation filmmaking – https://theconversation.com/peter-weirs-the-cars-that-ate-paris-a-driving-force-in-ozploitation-filmmaking-237233

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Economics: Money Market Operations as on October 09, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,23,711.57 6.27 3.00-6.60
         I. Call Money 9,077.67 6.43 5.10-6.60
         II. Triparty Repo 3,74,188.00 6.26 6.20-6.46
         III. Market Repo 1,39,458.90 6.28 3.00-6.60
         IV. Repo in Corporate Bond 987.00 6.41 6.40-6.60
    B. Term Segment      
         I. Notice Money** 244.10 6.40 5.90-6.50
         II. Term Money@@ 143.50 – 6.60-6.90
         III. Triparty Repo 495.00 6.38 6.33-6.45
         IV. Market Repo 302.19 6.56 6.54-6.65
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Wed, 09/10/2024 1 Thu, 10/10/2024 4,085.00 6.75
    4. SDFΔ# Wed, 09/10/2024 1 Thu, 10/10/2024 53,102.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -49,017.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo Fri, 04/10/2024 14 Fri, 18/10/2024 44,275.00 6.49
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Tue, 08/10/2024 3 Fri, 11/10/2024 9,398.00 6.49
      Mon, 07/10/2024 4 Fri, 11/10/2024 36,825.00 6.49
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       6,942.52  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -80,015.48  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -1,29,032.48  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on October 09, 2024 10,00,239.84  
         (ii) Average daily cash reserve requirement for the fortnight ending October 18, 2024 10,01,756.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 09, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on September 20, 2024 4,18,318.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad            
     Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1258

    MIL OSI Economics –

  • MIL-OSI Australia: Albanese’s cabinet reshuffle is a chance to reset the rhetoric on immigration and multiculturalism

    Source: Australian Human Rights Commission

    This opinion piece by Race Discrimination Commissioner Giridharan Sivaraman appeared in The Guardian Australia.

    Australia’s leaders tout the benefits of our prosperous, multicultural society. Yet when it comes to speaking about refugees, people seeking protection and migrants, the policy framing shifts.

    This week’s federal cabinet reshuffle and the appointment of Tony Burke, who is taking on the home affairs, immigration and multicultural affairs portfolios, provides a significant opportunity to change the perceptions and attitudes which influence how we talk about migrants, refugees and people seeking protection – to foster an anti-racist approach at a time of division and to redefine what it means to be an “immigrant” in Australia.

    The Coalition’s home affairs experiment was doomed to fail. Tony Burke has a huge job on his hands
    Read more
    We routinely hear refugees and migrants blamed for the rising cost of living, lack of housing or even increased traffic, while ignoring the evidence that shows skilled migrants make a significant net positive contribution to the Australian economy over their lifetime. We don’t often hear about the farming and agricultural skills brought by many refugees and people seeking asylum.

    Public discourse routinely dehumanises refugees and people seeking protection, labelling them as “illegal immigrants”, “queue jumpers”, or “economic migrants” – even though seeking asylum is a legal right.

    Last year’s NZYQ high court decision, which ruled it illegal to indefinitely detain stateless refugees after they had completed their prison sentences imposed by a court, was a prime example.

    Following that decision, the entire cohort of refugees was branded by both sides of politics as “hardcore criminals” and “threats” to security. But labelling entire groups as a risk to community safety serves to legitimise harsh immigration regimes and dehumanise those in need.

    Australia’s history is marred by the legacy of the White Australia policy, a period marked by systemic racism and exclusionary practices designed to preserve the illusion of a homogenous society. This era exemplifies how “Australianness” has historically positioned non-white individuals as inferior “others”.

    The impact of structural racism on communities and individuals – myself included – who have resettled or sought protection in Australia is to diminish them. It forces us to shed our language, culture, customs and dress until nothing separates us from white culture and society. And of course that means we may still be the victims of racism.

    It is also a false, narrow notion of what it is to be Australian.

    From the Africans on the first fleet to Chinese migrants in the 1800s to the Afghan cameleers, there is a rich history of non-white migration to this country that is intrinsic to our identity.

    And let’s also not forget that Australia is built on the foundation of First Nations people’s ways of being, knowing and doing stretching back tens of thousands of years. As highlighted last week in the federal government’s multicultural framework review, “this emphasis on acknowledging and celebrating the cultures and languages of First Nations peoples is seen as essential for genuine reconciliation and the need to achieve equality for all, without which multiculturalism is incomplete”.

    Embracing pluralism and inclusivity strengthens the very fabric of what it means to be Australian. It is time to take decisive action against racism and discrimination, starting at the top, with our government leading by example. Political leaders, media personalities and other public figures who make comments that incite racial violence and hatred, or perpetuate negative stereotypes, must be held accountable.

    The Australian Human Rights Commission’s national anti-racism framework will be delivered to the federal government before the end of the year. It will guide government, organisations, businesses and civil society on addressing racism and the role they can play in preventing it.

    To make that a reality, our elected officials will need to lead with anti-racist words and actions as soon as people arrive in Australia – no matter what their journey was to get here.

    For families who have fled wars, new arrivals looking to settle into society, to work and rebuild their lives after fleeing persecution, for lovers who are not accepted in their home countries; for those who may visibly look different, but seek the same dignity as you or I: we have to remember language in this discourse matters.

    Giridharan Sivaraman is Australia’s Race Discrimination Commissioner

    MIL OSI News –

  • MIL-OSI USA: Hoeven: New Minot North High School Will Help Provide Important Opportunities for Students

    US Senate News:

    Source: United States Senator for North Dakota John Hoeven
    10.09.24
    MINOT, N.D. – Senator John Hoeven today joined community and school leaders at the ribbon cutting ceremony for the newly opened Minot North High School. Minot North High School opened for classes on August 21, 2024, and is part of a larger reconfiguration of Minot Public Schools. The senator previously helped break ground on the new school and commended city and school officials on their efforts to meet the needs of Minot’s students.
    “A quality education is the great equalizer, helping ensure young people have the skills they need to compete in the economy of the future and live a fulfilling life,” said Hoeven. “Not only does this new high school double the square footage of Minot High, it will also help double participation in extra-curricular and co-curricular activities, meaning that more students will get opportunities to participate and learn. Congratulations to Superintendent Faul, former Superintendent Vollmer, Principal Johnson, and the community as a whole, who all worked together to make today’s achievement possible.”
    As a member of the Senate, Hoeven has worked to provide resources to help prepare students for careers in industries that will be critical to the future of the state and nation’s economy. To this end, the senator is working to expand access to science, technology, engineering and mathematics (STEM) education, including by:
    Supporting the Student Support and Academic Enrichment program, which can be used by school districts to build greater capacity for STEM education.
    Cosponsoring and helping pass legislation to expand the National Science Foundation’s STEM education initiatives for young children, including establishing new research grants to increase the participation of girls in computer science. 

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Speech by SITI at LSCM Logistics Summit 2024 (English only)

    Source: Hong Kong Government special administrative region

    Speech by SITI at LSCM Logistics Summit 2024 (English only)
    Speech by SITI at LSCM Logistics Summit 2024 (English only)
    ***********************************************************

         Following is the speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the LSCM Logistics Summit 2024 today (October 10):萬部長 (Deputy Director-General of the Youth Department of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, Ms Wan Ning), 謝書記 (Deputy Secretary of the CPC Working Committee of Nansha Development Zone, Guangzhou Mr Xie Wei), Alan (Chairman of the Logistics and Supply Chain MultiTech R&D Centre (LSCM), Professor Alan Lam), Simon (Chief Executive Officer of the LSCM, Mr Simon Wong), distinguished speakers and guests, ladies and gentlemen,     Good morning. It is my great pleasure to join you today again at the LSCM Logistics Summit, the annual signature event that brings together industry experts, business leaders, and academics to exchange ideas on the latest developments in innovation and technology (I&T) and to promote technology adoption.     In recent years, we have witnessed remarkable advancements in I&T that have accelerated our efforts in building a smart city and bolstering the digital economy. This Summit, themed “The New Era of Digitalisation: From Smart City to Digital Economy”, represents a much-welcome opportunity to explore how the evolving technologies are shaping and digitalising Hong Kong and the entire Greater Bay Area (GBA).      Promoting digital economy and smart city development in Hong Kong is one of our major strategic directions as set out in the Hong Kong I&T Development Blueprint promulgated in late 2022. Smart Mobility and Smart Living are also key areas in smart city development. Paying heed to these strategies and priorities, the Government works closely with our key stakeholders such as the LSCM to collaborate on the I&T adventure.      The LSCM is an active partner in our endeavours on smart city development. It participates in a number of pilots and proofs-of-concept involving government bureaux and departments. A notable example is the development of the Cross-boundary Public Services self-service kiosks. The kiosks currently support around 70 public services from the Government, covering tax, company registration, property and vehicle, among others. Setting up in various GBA Mainland cities such as Zhuhai, Guangzhou and Shenzhen, these kiosks facilitate access to Hong Kong’s public services for residents and enterprises in the GBA Mainland cities, doing away with the need for in-person visits and providing significant convenience.         The LSCM’s efforts have gained wide recognition both locally and internationally, as evident by the eight awards they received at the International Exhibition of Inventions Geneva in April this year, including the self-service kiosk I shared just now. Other award-winning solutions cover a broad range of technologies such as satellite signal monitoring and Internet of things.       All these demonstrate the strong capability and creativity of the LSCM, and represent a testimony to Hong Kong’s strengths and commitment to turning our vision of becoming an international I&T centre into reality.      I am excited to learn that the LSCM will expand its collaboration networks by signing three MOUs with three leading research institutes from Mainland China respectively covering different fields of information technology such as software and container logistics. I am confident that these collaborations will inject new impetus into the LSCM’s work to generate more breakthroughs in the areas of smart city-related solutions.      Ladies and gentlemen, the development of a smart city will remain a priority of the Government. Collaboration will be the key. We will continue to join hands with our partners in the public and private sectors to push forward the smart city development of Hong Kong.         Before I close, I wish you all a rewarding experience at the LSCM Summit 2024.  Thank you very much.

     
    Ends/Thursday, October 10, 2024Issued at HKT 11:45

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: President Lai delivers 2024 National Day Address

    Source: Republic of China Taiwan

    President Lai delivers 2024 National Day Address
    2024-10-10

    President Lai Ching-te on the morning of October 10 attended the ROC’s 113th Double Tenth National Day Celebration in the plaza fronting the Presidential Office Building, and delivered an address titled “ Taiwan Together for Our Shared Dream.”
    A translation of the president’s address follows:
    National Day Celebration Chairperson Han Kuo-yu (韓國瑜), Vice President Bi-khim Hsiao, Premier Cho Jung-tai (卓榮泰), Prime Minister of Tuvalu Feleti Teo and Madame Tausaga Teo, heads of delegations from diplomatic allies and friendly nations, distinguished guests from home and abroad, and my fellow citizens here in person and watching on TV or online: Good morning.
    Today, we gather together to celebrate the birthday of the Republic of China, praise the beautiful Taiwan of today, and usher in the better Taiwan for tomorrow.
    One hundred and thirteen years ago, a group of people full of ideals and aspirations rose in revolt and overthrew the imperial regime. Their dream was to establish a democratic republic of the people, to be governed by the people and for the people. Their ideal was to create a nation of freedom, equality, and benevolence. However, the dream of democracy was engulfed in the raging flames of war. The ideal of freedom had for long eroded under authoritarian rule.
    But we will never forget the Battle of Guningtou 75 years ago, or the August 23 Artillery Battle 66 years ago. Though we arrived on this land at different times and belonged to different communities, we defended Taiwan, Penghu, Kinmen, and Matsu. We defended the Republic of China.
    We will never forget the Kaohsiung Incident 45 years ago, or wave after wave of democracy movements. Again and again, people who carried the dream of democracy and the ideal of freedom, through valiant sacrifice and devotion, gave their lives to open the door to democracy. Over more than a century, the people’s desire to master their own destiny has finally been fulfilled.
    My fellow citizens, though the Republic of China was driven out of the international community, the people of Taiwan have never exiled themselves. On this land, the people of Taiwan toil and labor, but when our friends face natural disasters or an unprecedented pandemic, we do not hesitate to extend a helping hand. “Taiwan Can Help” is not just a slogan. It is a movement by the people of Taiwan to cherish peace and do good for others.
    In the past, our people, going out into the world equipped with only a briefcase, sparked Taiwan’s economic achievements. Now, Taiwan’s chip technology drives the whole world, and has become a global force for prosperity and development.
    The people of Taiwan are diverse, and they are fearless. Our own Nymphia Wind is a queen on the world stage. The people of Taiwan are truly courageous. Lin Yu-ting (林郁婷), a daughter of Taiwan, is a queen of the boxing world. At 17 years old, Taiwan’s own Tsai Yun-rong (蔡昀融) put steady hands to work and won first place for woodwork in a global skills competition. Chen Sz-yuan (陳思源), at 20, took first for refrigeration and air conditioning, using the skills passed down by his father. A new generation of “Made in Taiwan” youth is putting a new shine on an old label.
    I want to thank generation after generation of fellow citizens for coming together and staying together through thick and thin. The Republic of China has already put down roots in Taiwan, Penghu, Kinmen, and Matsu. And the Republic of China and the People’s Republic of China are not subordinate to each other. On this land, democracy and freedom are growing and thriving. The People’s Republic of China has no right to represent Taiwan. The 23 million people of Taiwan, now more than ever, must reach out our branches to embrace the future. My fellow citizens, we have overcome challenge after challenge. All along, the Republic of China has shown steadfast resolve; and all along, the people of Taiwan have shown unwavering tenacity.
    We fully understand that our views are not all the same, but we have always been willing to accept one another. We fully understand that we have differences in opinion, but we have always been willing to keep moving forward hand in hand. This is how the Republic of China Taiwan became what it is today.
    As president, my mission is to ensure that our nation endures and progresses, and to unite the 23 million people of Taiwan. I will also uphold the commitment to resist annexation or encroachment upon our sovereignty.
    It is also my mission to safeguard the lives and property of the public, firmly carry out our Four Pillars of Peace action plan, strengthen national defense, stand side by side with democratic countries, jointly demonstrate the strength of deterrence, and ensure peace through strength, so that all generations can lead good lives.
    All the more, my mission is to care for the lives and livelihoods of the 23 million people of Taiwan, actively develop our economy, and expand investment in social care. I must also ensure that the fruits of our economic growth can be enjoyed by all our people.
    However, Taiwan faces relentless challenges, and the world’s challenges are just as much our own. The world must achieve sustainable development as we grapple with global climate change. Sudden outbreaks of infectious diseases impact human lives and health around the globe. And expanding authoritarianism is posing a host of challenges to the rules-based international order, threatening our hard-won free and democratic way of life.
    For these reasons, I have established three committees at the Presidential Office: the National Climate Change Committee, the Healthy Taiwan Promotion Committee, and the Whole-of-Society Defense Resilience Committee. These committees are interrelated, and they are closely connected by the theme of national resilience. We intend to build up a more resilient Taiwan, proactively deal with challenges, and bring Taiwan into deeper cooperation with the international community.
    We must strengthen Taiwan’s ability to adapt to the risks associated with extreme weather, continue promoting our second energy transition, and ensure a stable power supply. We must steadily advance toward our goal of net-zero transition by 2050 through the development of more forms of green energy, deep energy saving, and advanced energy storage.
    In terms of health, we must effectively fight the spread of global infectious diseases, and raise the population’s average life expectancy while reducing time spent living with illness or disability. We must achieve health equality so that people are healthy, the nation is stronger, and so that the world embraces Taiwan.
    Finally, we must strengthen resilience throughout Taiwan in national defense, economic livelihoods, disaster prevention, and democracy. As the people of Taiwan become more united, our nation grows more stable. As our society becomes better prepared, our nation grows more secure, and there is also greater peace and stability in the Taiwan Strait.
    Taiwan is resolved in our commitment to upholding peace and stability in the Taiwan Strait and achieving global security and prosperity. We are willing to work with China on addressing climate change, combatting infectious diseases, and maintaining regional security to pursue peace and mutual prosperity for the well-being of the people on the two sides of the Taiwan Strait.
    For a long time now, countries around the world have supported China, invested in China, and assisted China in joining the World Trade Organization, thereby promoting China’s economic development and enhancing its national strength. This was done out of the hope that China would join the rest of the world in making global contributions, that internally it would place importance on the livelihoods of the people, and that externally it would maintain peace.
    As we stand here today, international tensions are on the rise, and each day countless innocents are suffering injuries or losing their lives in conflict. We hope that China will live up to the expectations of the international community, that it will apply its influence and work with other countries toward ending Russia’s invasion of Ukraine and conflicts in the Middle East. And we hope that it will take up its international responsibilities and, along with Taiwan, contribute to the peace, security, and prosperity of the region and the globe.
    In an era when the international landscape is becoming increasingly chaotic, Taiwan will become more calm, more confident, and stronger; it will become a force for regional peace, stability, and prosperity. I believe that a stronger democratic Taiwan is not only the ideal of our 23 million people, but also the expectation of the international community.
    We will continue to make Taiwan stronger and promote cross-sector economic development.
    Taiwan’s economic strength is no “miracle”; it is the result of the joint efforts of all the people of Taiwan. We must strive for an innovative economy, a balanced Taiwan, and inclusive growth; we must stay on top of changes in global trends, and continue to remain a key player in supply chains for global democracies.
    Going forward, in addition to our 5+2 innovative industries plan and Six Core Strategic Industries policy, we will more vigorously develop Taiwan’s Five Trusted Industry Sectors, namely semiconductors, AI, military, security and surveillance, and next-generation communications, and help expand their global presence. We will also promote the transformation and development of medium, small, and micro enterprises and help them develop their international markets.
    My fellow citizens, we will continue working to achieve a Taiwan that is balanced across all its regions.
    In the central government’s proposed general budget plan for next year, general grants for local governments and general centrally funded tax revenues increased significantly, by NT$89.5 billion, reaching a total of NT$724.1 billion, a record high. And our budget for flood control will be raised by NT$15.9 billion from this year, bringing the total to NT$55.1 billion. This will help municipalities across the country in addressing the challenges of extreme weather. 
    We will also expedite improvements to the safety of our national road network and create a human-friendly transportation environment. Furthermore, we will improve our mass rapid transit network and connect the greater Taipei area comprising Taipei, New Taipei, Keelung, and Taoyuan. We will roll out the new Silicon Valley plan for Taoyuan, Hsinchu, and Miaoli to form a central technology cluster connecting the north with the south and launch the Smart Technology Southern Industrial Ecosystem Development Plan. We will accelerate promotion of safety in our eastern transportation network so that locals can go home on safer roads. We will also enhance basic infrastructure in the outlying island areas to raise the quality of life for locals and increase their capacity for tourism.
    My fellow citizens, we must all the more ensure the well-being of our people across the generations.
    To our young parents, we will continue to promote version 2.0 of our national childcare policy for ages 0–6. We are going even further by already increasing childcare subsidies, and we will also enhance the quality of preschool services. Children are the future of our country, and the government has the responsibility to help take care of them.
    To our young students, we will continue to provide free tuition for students of high schools and vocational high schools, and we will also continue to subsidize tuition for students of private junior colleges, colleges, and universities. And we are taking that a step further by establishing the Ten-Billion-Dollar Youth Overseas Dream Fund. Young people have dreams, and the government has the responsibility to help youth realize those dreams.
    To our young adults and those in the prime of life, next year, the minimum wage will once again be raised, and the number of rent-subsidized housing units will be increased. We will expand investment in society and provide more support across life, work, housing, and health, and support for the young and old. Raising a family is hard work, and the government has a responsibility to help lighten the load.
    To our senior citizens all around Taiwan, next year, Taiwan will become a “super-aged society.” In advance, we will launch our Long-term Care 3.0 Plan and gradually implement the 888 Program for the prevention and treatment of chronic diseases.
    We will also establish a NT$10 billion fund for new cancer drugs and advance the Healthy Taiwan Cultivation Plan. We will build a stronger social safety net and provide enhanced care for the disadvantaged. And we will bring mental health support to people of all ages, including the young and middle-aged, to truly achieve care for all people of all ages throughout the whole of our society.
    I am deeply aware that what everyone cares about the most is the pressure of high housing prices, and that what they most detest is rampant fraud. I give the people my promise that our administration will not shirk these issues; even if it offends certain groups, we will address them no matter the price.
    We will redouble our efforts to combat fraud and fight housing speculation. We will expand care for renters and strike a balance with the needs of people looking to change homes. We will walk together, continuing down the path toward achieving housing justice.
    We have with us today former President Chen Shui-bian, former President Tsai Ing-wen, and leaders from different political parties. I want to thank all of you for attending. Your presence represents the strength our nation has built up over generations, as well as the values and significance of Taiwan’s diverse democracy.
    Our nation must become more united, and our society must grow more stable. I also want to thank Legislative Yuan President Han and Premier Cho for recently initiating cooperation among the ruling and opposition parties to facilitate discussion among the ruling and opposition party caucuses.
    In democratic countries, political parties internally promote the nation’s progress through competition, and externally they unite to work toward achieving national interests. No matter our political party, no matter our political stances, national interests come before the interests of parties, and the interests of parties can never take precedence over the interests of the people.
    And this is precisely the spirit upheld by those who sacrificed, who gave everything they had, in order to establish the Republic of China. This is the lesson we take from our predecessors who, generation upon generation, overcame authoritarianism, and sacrificed and devoted themselves to the pursuit of democracy. That is precisely why, regardless of party affiliation or regardless of our differences, we are gathered here today.
    Regardless of what name we choose to call our nation – the Republic of China; Taiwan; or the Republic of China Taiwan – we must all share common convictions: Our determination to defend our national sovereignty remains unchanged. Our efforts to maintain the status quo of peace and stability in the Taiwan Strait remain unchanged. Our commitment to hoping for parity and dignity, and healthy and orderly dialogue and exchanges between the two sides of the strait remains unchanged. Our determination, from one generation to the next, to protect our free and democratic way of life remains unchanged.
    I believe this is the dream that Taiwan’s 23 million people all share; it is also the shared ideal that Taiwanese society and the international community hold. The stronger the commitment of the Taiwanese people, the greater the tenacity of democracy around the world. The greater the tenacity of the Taiwanese people, the stronger the commitment of democracy around the world.
    Let’s keep going, Republic of China! Let’s keep going, Taiwan! Regardless of our differences, let’s keep going forward! Thank you.

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: Moscow entrepreneurs learn about the rules of working with brand reputation

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    On October 21, the State Budgetary Institution “Small Business of Moscow” (MBM), with the support of the capital’s Department of Entrepreneurship and Innovative Development, will hold a conference “The Path to the Client’s Heart” for capital businessmen and anyone who wants to start their own business.

    Conference participants will learn how to manage reputation in social networks, analyze customer needs, increase their loyalty and work with the customer base. In addition, entrepreneurs will be able to receive individual expert consultations in the mentor lounge.

    The business program will begin with speeches by speakers. The deputy chief operating officer of an online reputation management agency will tell how entrepreneurs can work with brand reputation on the Internet. The head of the sales department of a social media and mass media monitoring and analysis system will explain how to build communications with clients and develop your product based on feedback.

    The event will continue with a thematic session “Customer experience for the self-employed”, a workshop “Customer base is the main asset of your business” and an individual mentoring lounge, which will take place from 17:00 to 19:00.

    The workshop will be conducted by a business coach, owner of several companies in the field of retail, services and consulting. Its participants will learn to measure the main indicators of their business, form a client base and segment it, define the goals of marketing activities for each group of clients and create promotional events for these purposes.

    Within the framework of the mentoring lounge, experts, including the founder of women’s clothing brands, the chief specialist of a consulting company, and a patent attorney, will conduct individual consultations and suggest optimal solutions to the problems facing businessmen.

    The conference will be held on October 21 from 12:00 to 19:00 in the pavilion “Art. Technograd” at the address: Prospekt Mira, house 119, building 318. Participation is free, you can register on the MBM portal. To attend the workshop and receive expert advice in the mentor lounge, you must register in advance; the number of places is limited.

    Support for businessmen is provided within the framework of the national project “Small and medium entrepreneurship and support for individual entrepreneurial initiative”. More information about this and other national projects implemented in Moscow can be found here find out here.

    State Budgetary Institution “Small Business of Moscow”, subordinate To the Department of Entrepreneurship and Innovative Development of the City, helps people open and develop their own businesses in the capital. In business service centers, everyone can learn about financial and non-financial measures of state support.

    Free educational and business events are held for entrepreneurs: forums, seminars, trainings, conferences, which help to improve professional competencies and find like-minded people.

    You can also get advice on opening and running a business and learn more about current measures to support entrepreneurs in Moscow on the MBM website and by phone: 7 495 225⁠-14⁠-14.

    Starting with coffee: entrepreneurs are invited to join the new MBM training project“MBM Business School” invites you to a course for social entrepreneursThe number of small and medium entrepreneurs in the education sector has grown by 27 percent in three years

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

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

    http://vvv.mos.ru/nevs/item/145021073/

    MIL OSI Russia News –

  • MIL-OSI Russia: Express business valuation and financial recommendations: a new online service has been launched for entrepreneurs

    MILES AXLE Translation. Region: Russian Federation –

    Source: Moscow Government – Government of Moscow –

    A useful online service has appeared for Moscow entrepreneurs, which will help them to quickly assess the main indicators of their company and find out how they affect its financial stability. It was developed and launched by the center for assistance with financing of the Moscow Guarantee Fund. The service is intended for representatives of small and medium businesses who are going to apply to a bank for a loan or factoring, receive a bank guarantee, open a letter of credit account or arrange leasing.

    The service conducts pre-scoring — a study of indicators that banks take into account when working with applications from legal entities and individual entrepreneurs. Based on the assessment results, businessmen will receive an electronic report with recommendations on how to eliminate the identified problems.

    It is very easy to use the service. An entrepreneur needs to go to the Moscow Guarantee Fund website in the “Business” section and select the option “Request scoring”. On the page that opens, you must specify what type of loan he needs, clarify the goals and amount of financing. Information about the company and its activities will be filled in automatically from analytical sources. If necessary, this information can be specified independently.

    The application will take a few minutes to process. An electronic report will appear on the screen. It will list the main factors that affect the company’s financial stability. Among them are such parameters as industry risks, timely payment of taxes and wages, compliance with the rules for participation in procurement, and many others. The report can be downloaded and saved on your computer.

    Based on the assessment results, the businessman will also be offered to learn about city support measures that his company may qualify for. The service will automatically compile a selection of grants and benefit programs for him. It will open in a new window.

    In addition, entrepreneurs will be offered to ask questions to service specialists or leave a request for a guarantee from the Moscow Guarantee Fund. All these services can be completed online on the website. They are provided free of charge.

    Financing Assistance Center Subordinate to the Moscow Guarantee Fund To the Department of Entrepreneurship and Innovative Development of the City of Moscow. It opened in the spring of 2022. The center introduces representatives of small and medium-sized businesses to preferential lending programs and other support measures provided by the capital. Entrepreneurs can receive professional advice on issues of obtaining loans, securing transactions with sureties, and selecting a suitable form of financing. Since the opening of the center, its specialists have processed over six thousand applications from entrepreneurs.

    Information on current preferential financing programs, limits of these programs in banks and products Moscow Guarantee Fund can be obtained on weekdays from 09:00 to 18:00 by phone: 7 495 926-26-95.

    Detailed information on the support measures that the city provides to entrepreneurs is available on the portal State Budgetary Institution “Small Business of Moscow”. There you can find useful online services for businessmen, choose a training seminar and read materials about current changes in legislation, financial literacy and ways to promote products.

    Support for small and medium-sized businesses is provided within the framework of the national project “Small and medium-sized businesses and support for individual entrepreneurial initiatives”. You can find out more about this and other national projects being implemented in Moscow on the website.

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

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

    https://vvv.mos.ru/nevs/item/145049073/

    MIL OSI Russia News –

  • MIL-OSI: Nokia to publish third-quarter and January-September 2024 interim report on 17 October 2024

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    Nokia to publish third-quarter and January-September 2024 interim report on 17 October 2024

    10 October 2024
    Espoo, Finland –Nokia will publish its third-quarter and January-September 2024 interim report on 17 October 2024 at approximately 8 a.m. Finnish time (EEST). The report will be made available on the Nokia website immediately after publication.

    Nokia only publishes a summary of its financial reports in stock exchange releases. The summary focuses on Nokia Group’s financial information as well as on Nokia’s outlook.

    The detailed, segment-level discussion will be available in the complete financial report hosted at http://www.nokia.com/financials. A video interview summarizing the key points of our Q3 results will also be published on the website. Investors should not solely rely on summaries of Nokia’s financial reports, but should also review the complete reports with tables.

    Analyst webcast

    • Nokia’s webcast will begin on 17 October 2024 at 11.30 a.m. Finnish time (EEST). The webcast will last approximately 60 minutes.
    • The webcast will be a presentation followed by a Q&A session. Presentation slides will be available for download at http://www.nokia.com/financials.
    • A link to the webcast will be available at http://www.nokia.com/financials.
    • Media representatives can listen in via the link, or alternatively call +1-412-317-5619.

    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 Communications, Corporate
    Email: Press.Services@nokia.com

    Follow us on social media
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    The MIL Network –

  • MIL-Evening Report: Australia’s child support system can put single mothers at risk of poverty and financial abuse

    Source: The Conversation (Au and NZ) – By Kay Cook, Professor and Research Director, School of Arts, Social Sciences and Humanities, Swinburne University of Technology

    KieferPix/Shutterstock

    Australia’s child support system can not only increase women’s poverty, but can actually facilitate financial abuse, according to our recent research.

    Child support is an important system that aims to share the financial burden of raising children between separated parents.

    But there are some serious problems with the way it operates, putting already vulnerable women further at risk.

    Drawing on the experiences of 675 single mothers, we sought to examine women’s experience with the child support system from start to finish.

    Our research suggests four key changes could improve both women’s safety and financial wellbeing.

    How does child support work?

    Where deemed necessary, child support arrangements typically require one separated parent to make payments to the other, on a regular basis.

    How much is paid and how it is collected can vary in different circumstances.

    The amount agreed to be paid in child support can take in a range of factors, such as the cost of childcare.
    AKIRA_PHOTO/Shutterstock

    In some families, a child support recipient’s income will be too high to receive the family tax benefit – a key payment that assists with the costs of raising children.

    In this instance, a family can decide for itself how much will be paid, to whom, and how.

    This is called self management, but it is very difficult to navigate when abuse is present in a relationship.

    For families that do collect the family tax benefit, separated parents can use Services Australia to calculate the amount that will be paid.

    Services Australia will consider factors including what it costs to care for and educate a child, as well as the difference in income between the two parents.

    Once the amount has been calculated, separated parents can transfer payments privately between themselves, an approach called “private collect”.

    Alternatively, this group can also use a service called “agency collect” to manage the transfer. Here, Services Australia collects the funds from the paying parent, then gives it to the agreed recipient.

    For parents using agency collect, payments can also be “garnisheed” – deducted from a paying parent’s salary.

    The system is failing the most vulnerable

    Government reports reveal that across the agency collect system, a staggering $1.7 billion is owed to a third of single-parent households, representing 475,000 children.

    The vast majority of this money is owed to women, two-thirds of whom have children in their care 86% or more of the time.

    The vast majority of single parents are single mothers.
    FotoDuets/Shutterstock

    Losing out on payments

    Across the child support system, 28% of paying parents fail to submit tax returns on time, reducing the accuracy of assessments.

    Centrelink’s Family Tax Benefit A (the first part of a two-part payment) is linked to child support, with every dollar of child support above a certain threshold reducing this payment by 50 cents.

    Concerningly, while reports indicate that 60% of single mothers receiving income support have experienced violence prior to separation, less than 15% receive exemptions from having to seek child support on the basis of this violence.

    By not applying for either child support or an exemption, single mothers could lose a significant portion of their Family Tax Benefit A payments.

    These sobering statistics are only part of the picture. Others remain invisible.

    There are another 500,000 or so children in the private collect system. Many of their situations are a mystery. Services Australia doesn’t know how much those women and children are owed, as they don’t trace this amount and assume that payments are fully compliant.

    What we uncovered

    Our mixed methods survey of 675 single mothers asked women about their experiences in the child support system from start to finish.

    We asked women how they made various decisions about child support, such as when to apply for it and when to change how it is collected and calculated.

    Many women avoid chasing what’s owed to them for fear of retaliation from an ex-partner.
    rigsbyphoto/Shutterstock

    78% of women reported experiencing some form of violence at the time of separation.

    But the research also showed how the nature of this abuse can change post-separation, when financial abuse becomes the primary mechanism.

    Just over half the women reported currently experiencing either emotional or psychological abuse, and 60% financial abuse.

    Women shared they were often fearful of retaliation from their ex-partner if they applied or changed child support payment arrangements.

    I was advised not to apply at the time because of the family violence and he had made threats to kill me so [it] was recommended I didn’t give him any reason to act on this so I went without child support for some period of time.

    Others had to ask for an exemption to apply.

    A Centrelink social worker changed my son’s father to unknown so I wouldn’t be murdered.

    The results show how the current system’s logic can force women to risk their financial welfare to ensure their own safety.

    I withdrew my application to avoid further conflict by telling CSA [Child Support Agency] there was a private agreement but there isn’t and he doesn’t pay anything.

    Often, women are paying back debts to Centrelink due to retrospective changes in their ex-partner’s income or level of care, at the same time they themselves are owed thousands of dollars in child support arrears.

    I’ve at times been living on as little at $72 a week of FTB [Family Tax Benefit] as my sole income to feed, house, clothe and educate myself and two children. I don’t understand how that is possible.

    How could we fix it?

    Based on our findings, our report makes four recommendations that could bring about meaningful improvements, give women choices to suit their family, and create a system that is safe.

    1. De-link family payments from child support.

    2. Co-design family violence processes in the child support system.

    3. Move all payment collections back to being handled by the tax office.

    4. Make all payment debts owed to and enforced by the Commonwealth.

    Any meaningful solution to this problem will need to include the voices of victim survivors, advocates, researchers and social support organisations to co-design an effective system.

    The authors would like to acknowledge the assistance of Terese Edwards, chief executive of Single Mother Families Australia (SMFA), in the preparation of the report.

    Terese and SMFA provided in-kind support in the form of survey design feedback and recruitment assistance. Terese also contributed to writing the report.

    Kay Cook receives funding from the Australian Research Council in the form of a Discovery Project grant. She is Secretary of The Australian Sociological Association (TASA) and a Member of the federal Economic Inclusion Advisory Committee. She is the PhD supervisor of Terese Edwards, CEO of Single Mother Families Australia.

    Adrienne Byrt is a Postdoctoral Research Fellow on a Discovery Project funded by the Australian Research Council.

    Ashlea Coen’s research assistant position for this research was funded by Swinburne University of Technology.

    Marg Rogers received funding from the Commonwealth-funded Manna Institute for her Postdoctoral Fellowship in 2022-24.

    – ref. Australia’s child support system can put single mothers at risk of poverty and financial abuse – https://theconversation.com/australias-child-support-system-can-put-single-mothers-at-risk-of-poverty-and-financial-abuse-240917

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: KBC Group: Publication of transparency notification(s) received by KBC Group NV

    Source: GlobeNewswire (MIL-OSI)

    Publication of transparency notification(s) received by KBC Group NV

    (art. 14, 1st section of the Act of 2 May 2007 concerning the disclosure of significant participations)   

    Summary of the notification(s)

    KBC Group NV has received an updated transparency notification on 7 October 2024, which states that BlackRock has a stake of 4.37% in KBC Group (total voting rights and equivalent financial instruments). The reason for the update is a change in the structure of the BlackRock group*. 

    Content of the notification(s)

    The notification(s) contain(s) following information:

    • Reason for the notification(s): “acquisition or disposal of the control of an undertaking that holds a participating interest in an issuer”
    • Notification(s) by: BlackRock, Inc.
    • Persons subject to the notification requirement: see annex
    • Date(s) on which the threshold is crossed / notification is updated: 1 October 2024.
    • Threshold that is crossed: KBC Group’s Articles of Association set a notification threshold of 3% of the total number of voting rights. In addition, the legal thresholds of 5% or any multiple thereof also apply. The reason for this notification is not the crossing of a threshold, but a change in the structure of the BlackRock group*.
    • Denominator (number of shares KBC Group NV): 417 305 876
    • Notified details: see annex.
    • Chain of controlled undertakings through which the holding is effectively held:
      See “11: Full chain of controlled undertakings through which the holding is effectively held” in the PDF-file(s) on http://www.kbc.com (see below).
    • The relevant notification(s) is (are) available at http://www.kbc.com > Investor relations > Shareholder information > Shareholder structure.

    * As a result of the acquisition of Global Infrastructure Partners there has been a change to BlackRock’s group Structure. Upon the close of the transaction BlackRock, Inc. was renamed BlackRock Finance, Inc. and a NewCo became the publicly listed company with the name BlackRock, Inc.

    For more information, please contact:

    Kurt De Baenst, General Manager, Investor Relations, KBC Group
    E-mail:  IR4U@kbc.com

    Viviane Huybrecht, General Manager, Corporate Communication/Spokesperson, KBC Group
    E-mail: pressofficekbc@kbc.be

    Attachment

    The MIL Network –

  • MIL-OSI Australia: Tell us what you think about our financial counselling services

    Source: Government of Victoria 2

    Consumer Affairs Victoria is asking for your feedback on its financial counselling services. 

    We fund several financial counselling services run by not-for-profit community organisations across Victoria. These programs help at-risk people manage their debts and organise their finances. This includes people recovering from natural disasters and people experiencing family violence. 

    Financial counsellors give free and confidential advice about your rights and responsibilities. They negotiate with creditors and help organise payment plans for debts. 

    Demand for financial counselling services is changing. This is due to several factors, including: 

    • cost-of-living pressures 
    • increased interest rates
    • easier access to credit services. 

    We want to know how our services are working and ways we can improve to suit your needs. 

    You can take part in the review by visiting the Engage Victoria website. We have published a discussion paper to help guide feedback. Feedback is open until 6 November 2024. 

    This review is part of a larger consultation to improve our programs. We are also seeking feedback on our renter and retirement housing services. 

    MIL OSI News –

  • MIL-OSI China: China launches first monetary policy tool

    Source: China State Council Information Office 3

    China’s central bank announced Thursday that it has decided to set up Securities, Funds and Insurance companies Swap Facility (SFISF), with the initial scale of 500 billion yuan (about 71 billion U.S. dollars) for “the healthy and stable development of the capital market.”

    The SFISF, which is the first monetary policy tool created by China to support the capital market, will allow eligible securities, funds and insurance companies to use their assets including bonds, stock ETFs and holdings in constituents of the CSI 300 Index as collateral in exchange for highly liquid assets such as treasury bonds and central bank bills, the People’s Bank of China said in a statement.

    The scale of the SFISF could be expanded depending on the development of the situation, according to the central bank.

    Starting Thursday, applications from eligible securities, funds and insurance companies will be accepted.

    As a long-term institutional arrangement, the SFISF is conducive to enhancing the resilience of China’s capital market and curbing herd behavior and other pro-cyclical actions, thus helping maintain market stability, authoritative sources were quoted by Xinhua’s financial newspaper, China Securities Journal, as saying.

    The new tool can also boost the participation of non-bank institutions, improve the transmission efficiency of monetary policy in the capital market, and contribute to the balanced development of bond, stock and other markets, according to the sources.

    The SFISF is a swap of assets and will not expand the scale of base currency issuance, the China Securities Journal report noted.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Banking (Capital) (Amendment) Rules 2023 (Commencement) Notice 2024 gazetted

    Source: Hong Kong Government special administrative region

         The Banking (Capital) (Amendment) Rules 2023 (Commencement) Notice 2024 (Commencement Notice) was gazetted today (October 10) to appoint January 1, 2025, as the commencement date for Parts 3 and 5 of the Banking (Capital) (Amendment) Rules 2023 (BCAR).
     
         The BCAR was approved by negative vetting of the Legislative Council in February 2024. Its main purpose is to incorporate the Basel III final reform package promulgated by the Basel Committee on Banking Supervision (BCBS) into local legislation. Part 3 of the BCAR provides for amendments in relation to credit risk, the output floor, operational risk and sovereign concentration risk. Part 5 of the BCAR deals with amendments in relation to market risk and credit valuation adjustment (CVA) risk.
     
         A Government spokesperson said, “The full implementation of Basel III standards will ensure the resilience of our banking system to financial shocks, and reinforce Hong Kong’s status as an international financial centre.”
     
         A Hong Kong Monetary Authority (HKMA) spokesperson said, “The HKMA has given due consideration to the views of the banking industry in determining the local implementation timeline for the Basel III final reform package. Its full adoption will ensure that the regulatory framework in Hong Kong remains aligned with international standards agreed by the BCBS.”
     
         The Commencement Notice will be tabled before the Legislative Council next Wednesday (October 16) for negative vetting. 

    MIL OSI Asia Pacific News –

  • MIL-OSI New Zealand: Accounts confirm need for spending restraint

    Source: New Zealand Government

    The Crown accounts for the 2023/24 year underscore the need for the Government’s ongoing efforts to restore discipline to public spending, Finance Minister Nicola Willis says.

    The Financial Statements of the Government for the year ended 30 June 2024 were released today.

    They show net core Crown net debt at the end of the financial year was $175 billion, or 42.5 per cent of GDP. That was less than the 43.1 per cent forecast in the Budget, but still represents an increase of $118 billion in only five years.

    Core Crown spending in 2023/24 was $139 billion, we are now spending $58 billion more than when the last National-led government left office.

    The operating balance before gains and losses (OBEGAL) was a deficit of $12.9 billion – the fifth deficit in a row. The OBEGAL deficit was $1.8 billion more than forecast in the Budget, due to worse-than-expected results from Crown entities and state-owned enterprises.

    “Government spending has skyrocketed over the last six years and so has government debt,” Nicola Willis says. 

    “The coalition Government is committed to driving more value from government spending, getting the books back in surplus and starting to bring down net debt as a proportion of gross domestic product.

    “The accounts also show the corrosive impact of low growth and low productivity on the government’s financial performance. 

    “The coalition Government is determined to drive economic growth which is why it is focusing on lifting education and skills development, boosting trade and investment, investing in science and innovation, improving regulation and competition, and building an enduring infrastructure pipeline.”  

    Nicola Willis says it is also important to note that, while the Government didn’t set the Budget for 2023/24, it made decisions in the mini-Budget and in Budget 2024 that improved OBEGAL by $1.1 billion in the just-completed year.

    “Future Budgets will continue to demonstrate our respect for taxpayers and good stewardship of public money.”

    The next major fiscal announcement is the Half Year Update and Budget Policy Statement which will be released on Tuesday 17 December. 

    MIL OSI New Zealand News –

  • MIL-OSI: WOO Innovation Hub and SphereX Partner to Elevate Meme-Driven Decentralized Trading

    Source: GlobeNewswire (MIL-OSI)

    SEYCHELLES, Victoria, Oct. 10, 2024 (GLOBE NEWSWIRE) — As part of the broader WOO Ecosystem, which includes the WOOFi protocol, a leading decentralized exchange, and WOO X, a global centralized exchange, the WOO Innovation Hub is excited to announce a strategic partnership with SphereX, a cutting-edge decentralized exchange (DEX) known for redefining digital asset trading with its meme-focused order-book perpetual exchange. This collaboration aims to bring innovation and excitement to decentralized finance (DeFi) while making advanced trading tools accessible to a wider audience.

    SphereX sets itself apart as one of the first decentralized exchange designed with meme culture at its core, catering to traders who enjoy the fast-paced world of crypto memes while maintaining serious trading functionalities. The platform combines the freedom of DeFi with an innovative order-book perpetual trading model, delivering high-performance, on-chain security and capital efficiency. With off-chain matching for rapid execution and on-chain settlement for secure trades, SphereX provides a fun yet professional environment for DeFi enthusiasts.

    The cooperation between WOO Innovation Hub and SphereX is built on a shared vision to enhance DeFi accessibility and improve capital efficiency across chains. SphereX’s multi-chain launch marks just the beginning, with plans to expand its reach to even more blockchain networks, driving innovation and inclusivity in the DeFi landscape.

    Abby Huang, WOO Innovation Hub Lead, said: “SphereX’s unique approach to combining the viral excitement of meme culture with professional-grade decentralized trading is something we’re excited to support. This collaboration allows WOO Innovation Hub to foster even more creativity in the DeFi space, while SphereX’s meme-driven order-book model adds a fresh layer of engagement and entertainment for our users.”

    SphereX stands out by addressing key issues in the current DeFi landscape, such as fragmentation and centralization, while making trading fun and engaging. Their order-book perpetual exchange, designed for meme traders, allows users to access cross-margin trading and enjoy seamless trade execution through off-chain matching. By adding an element of humor and creativity to high-stakes trading, SphereX creates a trading environment that is both inclusive and enjoyable.

    Kai, SphereX CEO stated: “Collaborating with WOO Innovation Hub is a major milestone for SphereX as we continue to expand our vision of making decentralized trading not only fun and fast but also highly scalable. With WOO’s extensive ecosystem and their unwavering commitment to innovation, we’re excited to collaborate in reaching new audiences and transforming the way people engage with DeFi.”

    Contact Us: ecosystem@woo.network

    About WOOFi
    WOOFi is a leading decentralized exchange (DEX) with over $42B in cumulative trading volume and more than 250k monthly active users. It supports 11 blockchains and offers a diverse range of products, including earn vaults, simple swaps, cross-chain swaps, and perpetual futures. The native token of WOOFi, WOO, can be staked to share 80% of all protocol fees.

    About SphereX
    SphereX is a cutting-edge decentralized exchange (DEX) designed to make crypto trading accessible, secure, and user-friendly for everyone. By prioritizing decentralization, SphereX ensures that users have full control over their assets, with transparent and low-cost transactions. Committed to fostering a welcoming and inclusive community, SphereX embodies the spirit of Robin Hood, providing financial opportunities for all, especially those new to crypto trading or with limited resources. Join the SphereX community today and experience the future of decentralized finance.

    Disclaimer

    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 information provided in this article is for general informational purposes only and does not constitute financial, investment, legal, or professional advice of any kind.

    Cryptocurrencies involve significant risk and are NOT suitable for the majority of investors. The value of digital currencies can be extremely volatile, and you should carefully consider your investment objectives, level of experience, and risk appetite before participating in any staking or investment activities. We strongly recommend that you seek independent advice from a qualified professional before making any investment or financial decisions related to cryptocurrencies. We shall in NO case be liable for any loss or damage arising directly or indirectly from the use of or reliance on the information contained in this article.

    The collaboration between WOO and SphereX highlighted in the content above does not indicate in any way that WOO provides, or will provide financial service. WOO does NOT endorse, guarantee or provide advice for any products or services of its business partners. This cooperation shall in no event be interpreted as an assurance or guarantee for the listing of any tokens, whether presently existing or to be generated in the future, on WOO X or any associated exchange platforms, nor does it imply any commitment from WOO X to list any tokens on its platforms or others. The decision to list any tokens is governed by and subject to a series of separate criteria and procedures, independent of this cooperation or business partnership.

    Nothing in this article or any related content shall be construed to create or suggest the existence of a partnership, joint venture, agency relationship, or any form of legal association between WOO and SphereX. Each party is an independent entity, acting solely in its own capacity, and is responsible for its own actions, decisions, and associated risks. The collaboration mentioned does not imply any form of shared liability or financial obligation, and each party will bear its own risks and responsibilities. Furthermore, this article should not be interpreted as providing any guarantees regarding the outcome of any business ventures or collaborations mentioned, nor shall be an indication of guaranteed success or profitability for either WOOFi, WOO X or SphereX, or any of their business partners.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f8cfa220-ad9d-4556-9ca9-beea094ae3d7

    The MIL Network –

  • MIL-OSI: 21Shares Grows its European Crypto ETP Lineup with the Launch of Future of Crypto Index ETP (FUTR)

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, 10 October 2024 – 21Shares AG (“21Shares”), one of the world’s largest issuers of crypto exchange traded products (ETPs), today announced the launch of the 21Shares Future of Crypto Index ETP (FUTR) on Euronext Paris and Euronext Amsterdam. FUTR represents the latest addition to its growing European product lineup, representing the firm’s 44th crypto ETP, its 10th crypto basket ETP, and its first-ever crypto megatheme ETP.

    Exchange Product Name Ticker ISIN Fee
    Euronext Paris 21Shares Future of Crypto Index ETP FUTR FP CH1382892102 1.49%
    Euronext Amsterdam 21Shares Future of Crypto Index ETP FUTR NA CH1382892102 1.49%

    “Global excitement, demand and momentum for crypto is undeniable. And 21Shares has been at the forefront of increasing global access to the crypto asset class since inception in 2018 – offering investors a six-year track record of developing, launching and managing crypto ETPs,” said Hany Rashwan, Co-Founder and CEO of 21Shares. “As 21Shares’ first-ever crypto megatheme ETP, FUTR represents the next evolution of the firm’s European product lineup and a potential opportunity for investors looking for the next step after allocating to Bitcoin (BTC) and Ethereum (ETH).”

    Rashwan continued: “With the launch of FUTR, 21Shares is thrilled to leverage the firm’s world-class product development and research capabilities to bring investors access to a future-oriented, broad-based index offering easy exposure to the most promising sectors of the crypto ecosystem.”

    FUTR provides investors with comprehensive exposure to the top sectors and themes anticipated to drive the future growth of the crypto market. By tracking a broad-based index that covers over 80% of the market, the ETP offers exposure to six key megathemes expected to drive long-term growth in the crypto market:

    1. Payment Platforms: Payment platforms are blockchains or protocols specialized in transferring value.
    2. Smart Contract Platforms: A smart contract platform is a base blockchain with built-in general-purpose programmability that allows developers to write smart contracts and launch decentralized applications (dApps).
    3. Blockchain Accelerators: A blockchain accelerator is a separate blockchain that helps augment the network capacity of a settlement blockchain by orders of magnitude while inheriting the security guarantees of the latter.
    4. Decentralized Finance (DeFi): Decentralized finance is internet-native financial infrastructure that does not rely on a centralized institution such as a bank, broker, or similar intermediaries.
    5. AI and Data Solutions: This refers to platforms that leverage artificial intelligence and data technologies to enhance various aspects of crypto ecosystems.
    6. Social and Gaming: This refers to an overlaying sector between blockchain, crypto, and the gaming industries, along with social elements that enhance player interactions and community building.

    FUTR takes a market-capitalization weighted approach, with leading assets from each of these six megathemes. In addition, FUTR offers dynamic allocation, a strategy that evolves with the market to provide alignment with emerging trends and opportunities. Further, FUTR excludes meme tokens, privacy tokens and assets below a $2M liquidity threshold, focusing on quality investments. FUTR is 100% physically backed by the underlying assets stored securely in cold storage by an institutional-grade custodian, offering enhanced protection.

    21Shares worked with MarketVector Indexes as the index provider for FUTR. MarketVector Indexes brings deep market knowledge in crypto indices to the digital assets landscape.

    “The 21Shares Future of Crypto Index provides a dynamic framework for tracking key sectors driving the next phase of crypto growth. We’re excited to partner with 21Shares on this forward-thinking, innovative product”, said Steven Schoenfeld, CEO of MarketVector Indexes.

    The launch of FUTR also represents an expansion of 21Shares’ collaboration with Flow Traders, who will act as the market maker for the product.

    “This is another step forward in supporting the broader adoption of digital assets, and we are thrilled to continue to expand our role in being the leading liquidity provider in the crypto ETP space as well as our partnership with 21Shares,” said Michael Lie, Global Head of Digital Assets at Flow Traders. “Innovative products like FUTR with diversified exposure to key themes in crypto, much like sector ETFs in TradFi, are going to be essential in expanding the full reach of digital assets and its value to financial markets. In our role, we will continue supporting innovative products and driving the convergence of TradFi and crypto.”

    For more details about the 21Shares Future of Crypto Index ETP, including the factsheet, please click here.

    Press Contact

    Audrey Belloff, Head of Global Communications, audrey.belloff@21.co

    About 21.co / 21Shares

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

    About MarketVector Indexes – http://www.marketvector.com

    MarketVector IndexesTM (“MarketVector”) is a regulated Benchmark Administrator in Europe, incorporated in Germany and registered with the Federal Financial Supervisory Authority (BaFin). MarketVector maintains indexes under the MarketVectorTM, MVIS®, and BlueStar® names. With a mission to accelerate index innovation globally, MarketVector is best known for its broad suite of Thematic indexes, a long-running expertise in Hard Asset-linked Equity indexes, and its pioneering Digital Asset index family. MarketVector is proud to be in partnership with more than 25 Exchange Traded Product (ETP) issuers and index fund managers in markets throughout the world, with more than USD 50 billion in assets under management.

    About Flow Traders

    Flow Traders is a leading multi-asset market maker founded more than twenty years ago, the firm expanded into digital assets trading in 2017, focusing on centralized exchanges before expanding its operations to include over-the-counter trading, options trading and decentralized finance. Additionally, Flow Traders strategically invests in builders and teams driving the convergence of centralized and decentralized finance.

    DISCLAIMER

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

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

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

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

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

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

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

    ###

    The MIL Network –

  • MIL-OSI Translation: Extraordinary Meeting of the Council of Ministers on October 10, 2024

    MIL OSI Translation. Timor-Leste Portuguese to English –

    Presidency of the Council of Ministers

    Spokesperson for the Government of Timor-Leste
    ……………………………………………. ……………………………………………. …………………….

    Press release

    Extraordinary Meeting of the Council of Ministers on October 10, 2024

    The Council of Ministers met at the Government Palace in Dili and approved the Government Resolution project, presented by the Deputy Prime Minister, Coordinating Minister for Social Affairs and Minister for Rural Development and Community Housing, Mariano Assanami Sabino, and by the Executive Director of the Mission Unit to Combat ‘Stunting’, Joel Maria Pereira, which approves the National Multisectoral Annual Plan to Combat ‘Stunting’ for the period 2024 to 2030.

    The National Multisectoral Annual Plan to Combat Stunting for the period 2024 to 2030 has as its main objective to provide a framework for coordinated and multisectoral action to combat stunting. Among the main goals are to increase the rate of exclusive breastfeeding, improve children’s diets and reduce the stunting rate from 47% to less than 25% by 2030. The plan also aims to reduce anemia rates in children and women of reproductive age, as well as improve the coordination of nutrition programs and promote social behavior changes to improve nutritional health.

    The implementation of the plan will be led by the Mission Unit for Combating Stunting, in collaboration with several ministries and development partners. The process will be subject to continuous monitoring to ensure its effectiveness, with the aim of creating a sustainable and resilient environment that promotes improved nutrition and well-being of the Timorese population.

    *****

    The draft Decree-Law, also presented by the Deputy Prime Minister, Mariano Assanami Sabino, referring to the Community Housing Program, was also approved.

    The programme aims to ensure the right to housing as a condition for the integrated and sustainable development of the community, through the planning and construction of housing and the corresponding complementary infrastructure and collective equipment, intended to be allocated to beneficiaries, in accordance with established criteria, as well as subsequent ongoing community support for maintenance and access to services. The implementation of the programme will be led by the Ministry of Rural Development and Community Housing, in conjunction with local administrations and with the active participation of communities. Housing is allocated to beneficiaries according to their financial capacity, and is classified under one of the following schemes: commercial, subsidised, community or social. Under the commercial scheme, the beneficiary pays a consideration defined by market conditions. Under the subsidised scheme, the amount to be paid is adjusted to be more affordable in light of market conditions. Under the community scheme, the allocation of housing is free of charge at an initial stage, with a set amount to be paid after that period. Under the social scheme, housing is allocated free of charge.

    *****

    The Council of Ministers assessed the preliminary report on the expenses of activities related to the visit of His Holiness Pope Francis, presented by the Minister of State Administration, Tomás do Rosário Cabral.

    At its meeting on 28 February 2024, the Council of Ministers authorized expenditure of up to USD 12 million for the Coordinating Committee for the Organization of the Visit of His Holiness Pope Francis, which took place from 9 to 11 September 2024. Of this amount, USD 9,978,658.12 was spent, resulting in a positive balance of USD 2,021,341.12, which will be returned to the State coffers.

    The Timorese Episcopal Conference (CET), through the Church Coordinating Commission team, will hold an internal evaluation meeting on November 23, 2024 and the Joint Commission, composed of the Government, the Church team and the representative of the Holy See in Timor-Leste, will conclude the activities on December 21, 2024, when the representative of the Holy See and the local Church will transmit an official message from the Vatican.

    *****

    Finally, the Council of Ministers also decided to approve the theme “Proud of our identity and culture, we build a future of freedom, justice and hope for our People” for the celebrations of the 49th anniversary of the Proclamation of Independence of the Democratic Republic of Timor-Leste, which will be celebrated on 28 November, and whose main celebrations will take place in Oe-Cusse Ambeno. END

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

    MIL Translation OSI

  • MIL-OSI: Bybit Reports Milestones as bbSOL Concludes First Month on Solana Blockchain

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 10, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest crypto exchange by trading volume, is proud to announce the successful completion of bbSOL’s first month, marking a milestone in its mission to advance token staking on the Solana blockchain. As the first exchange-backed liquid staking token (LST) on Solana, bbSOL has gained momentum, attracting attention for its marketing strategies and integration across both centralized and decentralized platforms.

    Since its launch, bbSOL has positioned itself as a noticeable figure in the Solana ecosystem due to its position at the intersection of centralized finance (CeFi) and decentralized finance (DeFi). 

    Key Milestones of bbSOL’s First Month:
    Total Value Locked (TVL) Surpasses 85 million: bbSOL has outpaced other exchange-backed staking tokens in TVL, underscoring its appeal to users and highlighting its growing influence within the Solana ecosystem. This surge in TVL reflects the token’s robust adoption and Bybit’s commitment to delivering staking opportunities for its users.
    Expanded Accessibility: bbSOL will be listed on Bybit Spot on 10 Oct 2024, 10AM UTC broadening user access to both trading opportunities and liquidity rewards across multiple ecosystems. By bridging the gap between Bybit’s centralized exchange and the broader DeFi landscape, bbSOL offers a streamlined experience for token holders.
    Strategic Partnerships: In addition to its availability on Bybit Spot, bbSOL has partnered with Jupiter Exchange, Solana’s leading swap aggregator, enhancing liquidity options and making bbSOL more versatile for users looking to trade efficiently within the Solana ecosystem.

    “We are incredibly proud of the community’s enthusiastic response to bbSOL,” said Emily Bao, Head of Spot and Web3 at Bybit. “bbSOL’s success in its first month is a testament to the power of combining Bybit’s global reach with the innovation and agility of decentralized platforms. With its listing, we’re further expanding accessibility and unlocking even more opportunities for our users to trade and benefit from bbSOL. We look forward to building on this momentum and bringing even more partners into the fold as we continue to shape the future of token staking.”

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

    For more details about Bybit, readers can please visit Bybit Press. 

    For media inquiries, readers can please contact: media@bybit.com

    For more information, readers can please visit: https://www.bybit.com

    For updates, readers can please follow: Bybit’s Communities and Social Media

    Contact

    Head of PR
    Tony Au
    Bybit
    tony.au@bybit.com

    The MIL Network –

  • MIL-OSI Video: Can climate action survive geopolitical upheaval?

    Source: World Economic Forum (video statements)

    Wars, trade tensions and elections around the world are testing humanity’s ability to tackle climate change.

    Two experts from the World Economic Forum’s Global Future Council on the Future of Geopolitics look at the diplomacy and real-world reality of climate change politics and economics, with a particular focus on the global South.

    This episode is published to coincide with the Annual Meeting of the Global Future Councils, find out more here: https://www.weforum.org/events/annual-meeting-of-the-global-future-councils-2024/
    Guests:

    Arun Sharma, senior advisor to the Chairman, Adani Group

    Varun Sivaram, Senior Fellow for Energy and Climate, Council on Foreign Relations
    Co-host:

    Jessica Margolis, Lead, Geopolitical Agenda, World Economic Forum
    Links:

    The World Economic Forum’s network of Global Future Councils: https://www.weforum.org/communities/global-future-councils/ Global Future Council on the Future of Geopolitics: https://www.weforum.org/communities/gfc-on-geopolitics/

    Shaping Cooperation in a Fragmenting World: https://www.weforum.org/publications/shaping-cooperation-in-a-fragmenting-world/
    Related podcasts:

    Why it’s time for the ‘middle powers’ to step up on geopolitics (https://www.weforum.org/podcasts/radio-davos/episodes/gfc-geopolitics-middle-powers/)

    How do we ensure the green transition doesn’t penalise the poorest? (https://www.weforum.org/podcasts/radio-davos/episodes/equitable-transition-climate/)

    Check out all our podcasts on wef.ch/podcasts (http://wef.ch/podcasts) :

    YouTube: (https://www.youtube.com/@wef/podcasts) – https://www.youtube.com/@wef/podcasts

    Radio Davos (https://www.weforum.org/podcasts/radio-davos) – subscribe (https://pod.link/1504682164) : https://pod.link/1504682164

    Meet the Leader (https://www.weforum.org/podcasts/meet-the-leader) – subscribe (https://pod.link/1534915560) : https://pod.link/1534915560

    Agenda Dialogues (https://www.weforum.org/podcasts/agenda-dialogues) – subscribe (https://pod.link/1574956552) : https://pod.link/1574956552

    Join the World Economic Forum Podcast Club (https://www.facebook.com/groups/wefpodcastclub) : https://www.facebook.com/groups/wefpodcastclub

    https://www.youtube.com/watch?v=ou1rVNtxi4g

    MIL OSI Video –

  • MIL-OSI United Nations: World Migratory Bird Day 2024: Protect Insects to Protect Birds

    Source: United Nations

    12 October 2024 – For the first time this year, the theme of the World Migratory Bird Day highlights the importance of insects for migratory birds, and calls more action to protect  decreasing populations of insects.

    Insects are vital energy sources for many bird species during the breeding season and their migration. They significantly affect the timing, duration, and overall success of bird migrations. Insect populations have declined dramatically in recent decades as a result of the use of insecticides and the destruction of their habitats linked to agricultural intensification, urbanization and road development. Climate change and biological invasions also cause the death of insects by starvation, disease or predation.

    World Migratory Bird Day campaign in 2024, draws attention to need for proactive measures to reverse this decline such as reducing use of pesticides and fertilisers as well as encouraging organic farming.

    Bird populations in World Heritage sites are also increasingly affected by avian flu. UNESCO World Heritage Centre together with its partner organizations have conducted earlier this year a webinar series entitled How to protect wildlife from avian flu in UNESCO World Heritage sites, Biosphere Reserves and Ramsar sites in April and May 2024.

    These webinars were organized with the financial support of the Swiss Federal Office for Environment (FOEN) in collaboration with UNESCO World Heritage Centre, UNESCO Man and the Biosphere Programme, the Secretariat of the Convention on Migratory Species (CMS) and its CMS FAO Co-convened Scientific Task Force on Avian Influenza and Wild Birds, the Secretariat of the Ramsar Convention on Wetlands of International Importance, the International Union for Conservation of Nature.

    Highly pathogenic avian influenza not only causes to death of many wild bird species worldwide, but also causing significant mortality of mammals. Held in different time zones to reach out all regions, three webinars aimed to raise awareness of the site management authorities in UNESCO World Heritage sites, Biosphere Reserves and Ramsar sites on the avian influenza outbreak and its irreversible cause of biodiversity loss globally in designated sites recognized internationally for their importance to nature conservation and which are critically important for migratory species.

    During the webinars, scientists and representatives of internationally designated sites provided information on the current situation of the sites, which are affecting by the outbreak of the avian flu and how site management authorities together with the scientists combat the spread of the virus. Recordings and presentations of keynote speakers of the webinars on avian flu as well as the guidelines, other related documents and examples of different countries available on website to draw attention to the subject.

    World Migratory Bird Day is a global awareness raising campaign that aims to highlights the need for international cooperation to conserve migratory birds. In 2024, World Migratory Bird Day is celebrating on 11 May and 12 October, reflecting the cyclical nature of seasonal bird migrations in different hemispheres.

    MIL OSI United Nations News –

  • MIL-OSI Economics: BaFin warns consumers about the website green-vest.net

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the website green-vest.net. According to information available to BaFin, Green-Vest Investment Company, Dallas, USA, offers financial and investment services there without authorization.

    On 25 April 2024, BaFin issued a warning about the identical website green-vest.io, which was allegedly also operated by Green-Vest Investment Company.

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

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

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

    MIL OSI Economics –