Category: Economy

  • MIL-OSI United Kingdom: Roundtable to help turbo-charge Scotland’s agriculture industry

    Source: United Kingdom – Executive Government & Departments

    News story

    Roundtable to help turbo-charge Scotland’s agriculture industry

    Scotland Office Minister Kirsty McNeill to hear from sector experts on barriers to growth in the Scottish agri-food supply chain

    Leading members of Scotland’s agriculture sector will join the UK and Scottish Governments in Edinburgh today (April 30) to investigate key issues facing the agri-food supply chain – and help identify potential solutions.

    Minister McNeill pledged to host a food and farming roundtable with industry when she attended the NFU Scotland (NFUS) conference earlier this year.

    The Minister will be joined by Defra and Department for Business and Trade representatives as well as Scottish Government Agriculture Minister, Jim Fairlie

    It’s part of ongoing extensive engagement with a sector crucial to the UK Government’s Plan for Change to deliver security and renewal by kick-starting economic growth to create jobs, put more money in working people’s pockets, boost economic growth and improve living standards right across the UK, including rural communities which are vital to feeding the UK and achieving net zero.

    Up for discussion will be: immigration and access to labour; fairness in the supply chain; and supporting economic growth.

    While the topics for discussion are policy areas reserved to the UK Government, agriculture is almost entirely devolved to the Scottish Government.

    UK Government Scotland Office Minister Kirsty McNeill said:

    Food and farming are vital to the country and this is an important opportunity for the industry and government to discuss issues and identify creative solutions.

    There is much we can and are doing for the sector through the UK Government’s Plan for Change to turbo-charge economic growth and deliver a decade of national renewal and opportunity for all. But I appreciate that there are a number of highly complex issues facing Scottish agriculture and I look forward to a constructive discussion.

    We will continue to engage with this vital industry and we will continue to strengthen relations with the Scottish Government, respecting the fact that agriculture policy is largely devolved.

    Scottish Government Agriculture Minister Jim Fairlie said:

    The Scottish Government is committed to supporting our agriculture sector in sustainable food production whilst also contributing to nature and climate targets. We are reforming how we support farming and food production, towards our Vision for Agriculture for Scotland to become a global leader in sustainable and regenerative agriculture.

    Recent and ongoing global events show the fragility of food security, and we are taking action to improve Scotland’s food resilience and strengthen our supply chains. We will continue to work with the UK Government and across the sector to monitor the threats to the supply chain and mitigate against future shocks and impacts on food security.

    NFU Scotland President Andrew Connon said:

    NFU Scotland is pleased to attend the Scotland Office Food and Farming Roundtable this week and represent our members across the country. We will be discussing important issues such as barriers to growth, seasonal workers and immigration and fairness in the supply chain – each critical for a profitable and sustainable future agricultural sector in Scotland.

    We look forward to underlining the importance of farmers and crofters to the food and drink industry and to rural communities and hearing what actions the UK Government will take to help address the issues seriously impacting our sector currently.

    The Scottish food and drink manufacturing sector has grown by more than 35% over the last decade and now contributes £5.2 billion to the Scottish economy, while accounting for over one third of Scotland’s manufacturing turnover.

    Office for National Statistics data, analysed by the Food and Drink Federation, also showed that the industry provides around 47,000 jobs in Scotland’s 1,220 food and drink businesses.

    Industry attendees expected at Queen Elizabeth House are:
    NFUS
    Quality Meat Scotland
    Scottish Crofters’ Federation
    Scotland Food & Drink
    Food and Drink Federation
    Scottish Association of Meat Wholesalers
    Agricultural Industries Confederation
    Aberdeen & Northern Marts Group
    James Hutton Institute
    SRUC
    Scottish Agricultural Organisation Society
    Angus Growers
    Scottish Land & Estates
    Food & Agriculture Stakeholder Taskforce
    Scottish Tenant Farmers’ Association

    Updates to this page

    Published 30 April 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: New Chief Executives appointed to lead TRA

    Source: United Kingdom – Executive Government & Departments

    News story

    New Chief Executives appointed to lead TRA

    The UK Trade Remedies Authority has confirmed the appointment of Jessica Blakely and Carmen Suarez as Chief Executives in a jobshare arrangement.

    The UK Trade Remedies Authority (TRA) has today confirmed the appointment of Jessica Blakely and Carmen Suarez as Chief Executives in a jobshare arrangement. They will take up the role from 2 June.

    The Trade Remedies Authority is the UK’s independent public body responsible for investigating allegations of unfair trading practices and unforeseen surges in imports that cause injury to UK industry. It makes evidence-based recommendations to the Secretary of State for Business and Trade. 

    The TRA’s Chair Nick Baird recently met with the Secretary of State for Business and Trade to agree how during the current global trade turmoil, the TRA will be stepping up its active data monitoring of emerging trade risks to help the Government spot and tackle the potential dumping of unfairly low-priced goods into the UK.

    New leadership on trade remedies

    Jessica and Carmen join the TRA from the Ministry of Housing, Communities and Local Government (MHCLG) and have held a number of senior roles both within and outside government, with a particular focus on trade, investment and regulation.

    Business and Trade Secretary Jonathan Reynolds said:  

    “This Government is standing up for our national interest, and as part of our Plan for Change, creating a level playing field where UK businesses can thrive and grow.

    The work of the TRA has never been more important in achieving this objective, and I’m delighted to welcome Jessica and Carmen to their new role. Their skills will be vital to ensure the TRA continues to protect British producers from unfairly low-priced imports.”

    Jessica and Carmen have jobshared since 2017. Their senior roles together have included: leading the Department for Business’ (BEIS) analytical work on EU Exit and international trade; the coordination of the UK Government work on no-deal business readiness; Senior Responsible Officers (SROs) for the level playing field chapter of the UK/EU trade negotiations (including subsidy control and remedial measures); establishing the UK’s domestic subsidy control regime; leading on Brexit Opportunities and regulatory reform in Cabinet Office; and most recently, leading the delivery of local growth funds and Freeports in MHCLG.

    Before joining the Civil Service, Jessica’s career featured 12 years working in Investment Banking, providing strategic and financial advice to CEOs and boards of directors on mergers, acquisitions and capital raisings in London, Singapore and Sydney. After joining the Civil Service in 2010, she led analytical work in BEIS’ Better Regulation Executive and then the Europe Directorate.

    Carmen joined the Civil Service in 2017 from the Financial Conduct Authority, where she led on embedding competition in financial regulation. Previously, she worked at the Competition and Markets Authority and Office of Fair Trading. including as lead on a number of market studies and head of evaluation. Before these Civil Service roles, she was Chief Economist at the National Farmers Union of England and Wales.

    TRA Chair Nick Baird said: ‘I am delighted that two leaders of Jessica and Carmen’s quality have joined us at this turbulent time in the international trade environment. They have exactly the skills and experience to lead the TRA through the changes that are needed to help UK business navigate this new world.’

    New appointees Carmen and Jessica said: “We are thrilled to be joining the TRA and look forward to working with its Board, staff and stakeholders to ensure that trade remedies, particularly at this crucial time, are a cornerstone of the UK’s international standing and growth ambitions.”

    Background Information

    • Trade remedy measures are a trade defence tool to protect domestic industries against injury caused by unfair trade practices or unforeseen increases in imports. They are a specific type of tariffs allowed under World Trade Organization rules when specific criteria are met (evidence of dumping, subsidy or a surge in imports). They usually take the form of an additional duty placed on imports of specific products, which are collected by HMRC prior to a good entering into free circulation.
    • The TRA has been led by Steve O’Donoghue as interim Chief Executive since March 2025, when the TRA’s previous Chief Executive Oliver Griffiths left to take up a new role – TRA announces interim CEO and confirms board leadership – GOV.UK.

    Updates to this page

    Published 30 April 2025

    MIL OSI United Kingdom

  • MIL-OSI: Check Point Research Launches AI Security Report: Exposing the Rise of AI-Powered Cybercrime and Defenses

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, April 30, 2025 (GLOBE NEWSWIRE) — RSA CONFERENCE, – Check Point Software Technologies Ltd. (NASDAQ: CHKP), a pioneer and global leader of cyber security solutions, today launched its inaugural AI Security Report at RSA Conference 2025. This report offers an in-depth exploration of how cyber criminals are weaponizing artificial intelligence (AI), alongside strategic insights for defenders to stay ahead.

    As AI reshapes industries, it has also erased the lines between truth and deception in the digital world. Cyber criminals now wield generative AI and large language models (LLMs) to obliterate trust in digital identity. In today’s landscape, what you see, hear, or read online can no longer be believed at face value. AI-powered impersonation bypasses even the most sophisticated identity verification systems, making anyone a potential victim of deception on a scale.

    “The swift adoption of AI by cyber criminals is already reshaping the threat landscape,” said Lotem Finkelstein, Director of Check Point Research. “While some underground services have become more advanced, all signs point toward an imminent shift – the rise of digital twins. These aren’t just lookalikes or soundalikes, but AI-driven replicas capable of mimicking human thought and behavior. It’s not a distant future – it’s just around the corner.”

    Key Threat Insights from the AI Security Report:

    At the heart of these developments is AI’s ability to convincingly impersonate and manipulate digital identities, dissolving the boundary between authentic and fake. The report uncovers four core areas where this erosion of trust is most visible:

    • AI-Enhanced Impersonation and Social Engineering: Threat actors use AI to generate realistic, real-time phishing emails, audio impersonations, and deepfake videos. Notably, attackers recently mimicked Italy’s defense minister using AI-generated audio, demonstrating that no voice, face, or written word online is safe from fabrication.
    • LLM Data Poisoning and Disinformation: Malicious actors manipulate AI training data to skew outputs. A case involving Russia’s disinformation network Pravda showed AI chatbots repeating false narratives 33% of the time, underscoring the need for robust data integrity in AI systems.
    • AI-Created Malware and Data Mining: Cyber criminals harness AI to craft and optimize malware, automate DDoS campaigns, and refine stolen credentials. Services like Gabbers Shop use AI to validate and clean stolen data, enhancing its resale value and targeting efficiency.
    • Weaponization and Hijacking of AI Models: From stolen LLM accounts to custom-built Dark LLMs like FraudGPT and WormGPT, attackers are bypassing safety mechanisms and commercializing AI as a tool for hacking and fraud on the dark web.

    Defensive Strategies:

    The report emphasizes that defenders must now assume AI is embedded within adversarial campaigns. To counter this, organizations should adopt AI-aware cyber security frameworks, including:

    • AI-Assisted Detection and Threat Hunting: Leverage AI to detect AI-generated threats and artifacts, such as synthetic phishing content and deepfakes.
    • Enhanced Identity Verification: Enhanced Identity Verification: Move beyond traditional methods and implement multi-layered identity checks that account for AI-powered impersonation across text, voice, and video—recognizing that trust in digital identity is no longer guaranteed.
    • Threat Intelligence with AI Context: Equip security teams with the tools to recognize and respond to AI-driven tactics.

    “In this AI-driven era, cyber security teams need to match the pace of attackers by integrating AI into their defenses,” added Finkelstein. “This report not only highlights the risks but provides the roadmap for securing AI environments safely and responsibly.”

    The full AI Security Report 2025 is available for download here and join the April 30 livestream for more insights about the report.

    Follow Check Point via:

    LinkedIn: https://www.linkedin.com/company/check-point-software-technologies
    X (Formerly known as Twitter): https://www.twitter.com/checkpointsw
    Facebook: https://www.facebook.com/checkpointsoftware
    Blog: https://blog.checkpoint.com
    YouTube: https://www.youtube.com/user/CPGlobal

    About Check Point Software Technologies Ltd.

    Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading protector of digital trust, utilizing AI-powered cyber security solutions to safeguard over 100,000 organizations globally. Through its Infinity Platform and an open garden ecosystem, Check Point’s prevention-first approach delivers industry-leading security efficacy while reducing risk. Employing a hybrid mesh network architecture with SASE at its core, the Infinity Platform unifies the management of on-premises, cloud, and workspace environments to offer flexibility, simplicity and scale for enterprises and service providers. 

    Legal Notice Regarding Forward-Looking Statements 
    This press release contains forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, statements related to our expectations regarding future growth, the expansion of Check Point’s industry leadership, the enhancement of shareholder value and the delivery of an industry-leading cyber security platform to customers worldwide. Our expectations and beliefs regarding these matters may not materialize, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 2, 2024. The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and Check Point disclaims any obligation to update any forward-looking statements, except as required by law.

    The MIL Network

  • MIL-OSI: FrontFundr Shatters Records, Releases 2024 Community Capital Report

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 30, 2025 (GLOBE NEWSWIRE) — FrontFundr, Canada’s leading equity crowdfunding platform, today unveiled its 2024 Community Capital Report, showcasing a groundbreaking year that signals a major shift in Canada’s private investing landscape. In 2024, the platform facilitated an impressive $68.3 million in capital across 66 successful campaigns, more than doubling the amount raised in 2023. This milestone marks a turning point in how Canadians are engaging with private markets and demonstrates the growing appeal of equity crowdfunding.

    Since its launch in 2015 through December 31, 2024, FrontFundr facilitated over $258 million in capital through nearly 28,000 investments through its online platform, solidifying its leadership in Canada’s fast-growing equity crowdfunding sector. The platform now holds an impressive 93% market share under the National Instrument 45-110 Startup Crowdfunding (prospectus) Exemption, underscoring its pivotal role in democratizing access to capital for early-stage companies.

    Noteworthy campaigns in 2024 include Blossom Social, which raised $1.35 million in just 3.5 days, and Edison Motors, which secured $2.4 million in 2024 alone—setting new benchmarks for crowdfunding success in Canada.

    “Equity crowdfunding is no longer a niche alternative; it’s becoming a central component of how Canadians invest in the future they want to build,” said Peter-Paul Van Hoeken, Founder and CEO of FrontFundr. “Our growth reflects a broader movement toward the retailization of private markets, empowering the public to participate, providing emerging companies better access to capital, and creating a more inclusive financial system.”

    Key highlights from the 2024 report include:

    • Investor Growth: Women now represent 26% of investors; individuals aged 30–39 were the most active investors.
    • Sector Leadership: Finance led with over $55 million raised, followed by strong growth in technology, cleantech manufacturing, and food & beverage.
    • Regional Highlights: Ontario led with $35.6 million raised, followed by British Columbia and a resurgent Alberta, with notable growth across the Prairies.
    • Strong Portfolio Performance: 87% of FrontFundr-funded companies remain active, with 13.7% achieving liquidity events—including notable 2024 exits from Hempalta and Liquid Wind.
    • Platform Innovation: New features like a redesigned investment workflow, the launch of FrontFundr Elite Circle, and a partnership with StartEngine offering access to U.S. AI deals fueled a 17% increase in average investment size and a 97% increase in new investors.

    Platform innovations—including a streamlined investment journey, the launch of FrontFundr Elite Circle, and a partnership with StartEngine to access U.S. Accredited Investor-only opportunities—helped boost average investment size by 17% and nearly double new investor sign-ups.

    “This report captures a pivotal moment for Canada’s private markets,” said Trieste Reading, VP of Growth at FrontFundr. “2024 wasn’t just a breakout year for FrontFundr — it signaled a broader shift in how Canadians think about investing and ownership. Canadians are stepping up to back the businesses and causes they care about — and that’s changing the future of finance.”

    The release of the 2024 Community Capital Report comes at a time of growing global momentum to expand access to private markets. This shift was underscored by BlackRock CEO Larry Fink’s 2025 annual letter, which called for democratizing private market opportunities so everyday investors—not just the wealthy—can benefit from the returns of economic growth. As FrontFundr approaches its 10th anniversary in 2025, the platform remains steadfast in its mission to open doors for all Canadians to invest in businesses that reflect their values and shape the future.

    The full Community Capital Report 2024 is available at https://info.frontfundr.com/blog/community-capital-report-2024-from-slow-burn-to-a-breakout-year.

    About FrontFundr
    FrontFundr is Canada’s leading private markets investing platform, empowering startups and growth-stage companies to raise capital from their biggest supporters—everyday Canadians. Since 2015, FrontFundr has enabled thousands of investors to access vetted investment opportunities in private companies, from promising startups to established growth businesses. Whether you’re a seasoned investor or making your first-ever investment, FrontFundr makes it easy to participate in building the future of innovation and entrepreneurship in Canada. Learn more at www.frontfundr.com.

    Media Contact:
    Trieste Reading
    VP of Growth, FrontFundr
    Email: trieste@frontfundr.com
    Phone: +1 (604) 910-5074
    Website: www.frontfundr.com

    The MIL Network

  • MIL-OSI: KE Holdings Inc. to Report First Quarter 2025 Financial Results on May 15, 2025 Eastern Time

    Source: GlobeNewswire (MIL-OSI)

    BEIJING, April 30, 2025 (GLOBE NEWSWIRE) — KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE; HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced that it will report its unaudited financial results for the first quarter of 2025 before the U.S. market opens on Thursday, May 15, 2025.

    The Company’s management will hold an earnings conference call at 8:00 A.M. Eastern Time on Thursday, May 15, 2025 (8:00 P.M. Beijing Time on Thursday, May 15, 2025).

    For participants who wish to join the conference using dial-in numbers, please complete online registration using the link provided below at least 20 minutes prior to the scheduled call start time. Dial-in numbers, passcode and unique access PIN would be provided upon registering.

    Participant Online Registration:

    English Line: https://s1.c-conf.com/diamondpass/10046740-j8h7g6.html

    Chinese Simultaneous Interpretation Line (listen-only mode): https://s1.c-conf.com/diamondpass/10046741-h6g53.html

    A replay of the conference call will be accessible through May 22, 2025, by dialing the following numbers:

    United States: +1-855-883-1031
    Mainland, China: 400-1209-216
    Hong Kong, China: 800-930-639
    International: +61-7-3107-6325
    Replay PIN (English line): 10046740
    Replay PIN (Chinese simultaneous interpretation line): 10046741
       

    A live and archived webcast of the conference call will also be available at the Company’s investor relations website at https://investors.ke.com.

    About KE Holdings Inc.

    KE Holdings Inc. is a leading integrated online and offline platform for housing transactions and services. The Company is a pioneer in building infrastructure and standards to reinvent how service providers and customers efficiently navigate and complete housing transactions and services in China, ranging from existing and new home sales, home rentals, to home renovation and furnishing, and other services. The Company owns and operates Lianjia, China’s leading real estate brokerage brand and an integral part of its Beike platform. With more than 23 years of operating experience through Lianjia since its inception in 2001, the Company believes the success and proven track record of Lianjia pave the way for it to build its infrastructure and standards and drive the rapid and sustainable growth of Beike.

    For more information, please visit: https://investors.ke.com.

    For investor and media inquiries, please contact:

    In China:
    KE Holdings Inc.
    Investor Relations
    Siting Li
    E-mail: ir@ke.com

    Piacente Financial Communications
    Jenny Cai
    Tel: +86-10-6508-0677
    E-mail: ke@tpg-ir.com

    In the United States:
    Piacente Financial Communications
    Brandi Piacente
    Tel: +1-212-481-2050
    E-mail: ke@tpg-ir.com

    The MIL Network

  • MIL-OSI: Cority Launches Advanced Motion Capture Solution to Strengthen Industrial Ergonomics Programs

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, April 30, 2025 (GLOBE NEWSWIRE) — Cority, the global leader in enterprise Environmental, Health, and Safety (EHS) and Sustainability software, today announced the release of its new AI-powered Motion Capture for Industrial Ergonomics solution. Built to complement Cority’s holistic CorityOne ecosystem, this innovative technology helps organizations proactively assess and address ergonomic risks in demanding, non-office environments — from manufacturing shop floors to oil and gas fields — where musculoskeletal injuries frequently occur. The financial cost of these non-fatal workplace injuries is significant. The National Safety Council (NSC) reported that work injuries cost U.S. businesses $167.0 billion in 2022 in wage and productivity losses, medical expenses, administrative costs, and other related expenditures. While these types of injuries are most often non-fatal, they can be impactful to worker health and businesses operations in both the long and short term

    Industrial ergonomics focuses on designing tasks, workspaces, and tools around employees performing physically demanding jobs., It addresses risk factors such as repetitive lifting, forceful exertions, awkward postures, and other high-impact movements that can lead to musculoskeletal injuries. According to The Bureau of Labor Statistics, nearly half of all non-fatal workplace injuries, nearly 550,000 out of more than 2.2 million recorded occupational injuries in 2021-22, stem from exposure to ergonomic risk factors, which can result in significant productivity, health, and financial burdens.

    “Traditional manual ergonomic assessments can be extremely time-consuming and require significant expertise to perform,” says Kim Moull, CCPE at Cority. “By integrating motion capture technology into our industrial ergonomics solutions, we enable health & safety professionals and even non-specialists to quickly and accurately capture key ergonomic risk data by simply recording a video of a task. This data is then analyzed using best-practice ergonomics frameworks to generate risk scores and highlight areas requiring immediate attention or expert follow-up. The result is a more proactive ergonomics program that can help prevent injuries before they occur.”

    AI-powered motion capture and analytics
    At the core of this offering is an AI-driven motion capture technology delivered by Inseer, which uses patented computer vision driven algorithms and 3D modeling to assess ergonomic risk with a high degree of accuracy. Key features include:

    • 3D precision and speed. Inseer’s proprietary algorithms analyze full-range motion in just minutes, allowing organizations to scale ergonomic assessments across many different jobs and locations
    • Industry-recognized assessment tools. Motion capture data is automatically applied to recognized ergonomic scoring methods, such as RULA, REBA, Revised Strain Index, NIOSH’s Two-Handed Lifting Equation, and Liberty Mutual Push/Pull, offering a clear, quantitative view of ergonomic risk factors.
    • Integration with CorityOne. All ergonomic data from Inseer flows into Cority’s centralized ecosystem, allowing organizations to unify health, safety, and environmental data for a single source of truth. Powerful analytics and dashboards enable data-driven decisions to prioritize high-risk tasks and allocate resources effectively.

    Tackling limited resources and expertise
    Many organizations lack the specialist resources needed to assess ergonomic risks at scale. This shortfall, combined with the fact that ergonomic injuries result from successive exposures to risk factors over time rather than manifesting from a single incident, has historically made prevention more challenging. Cority’s new solution allows even generalists to capture reliable risk data in minutes, freeing up certified ergonomists and safety professionals to spend their time and expertise where it’s needed most.

    “Industrial ergonomics isn’t just about meeting regulations,” said Amanda Smith, Executive Vice President, Product Strategy at Cority. “It’s about doing right by your workforce. With Motion Capture for Industrial Ergonomics, we’re helping organizations move beyond reactive investigations toward a broader risk management mindset. This technology enables them to identify emerging issues and implement controls before injuries happen, ultimately protecting both employees and the bottom line.”

    Cority’s Motion Capture for Industrial Ergonomics solution is now globally available through CorityOne, the company’s integrated software ecosystem. For more information, existing Cority clients can reach out to their Account Executive or Customer Success Manager, while other interested parties can visit www.cority.com to request a demo or speak to a representative.

    About Cority
    Cority gives every employee from the field to the boardroom the power to make a difference, reducing risks and creating a safer, healthier, and more sustainable world. For over 35 years, Cority’s people-first software solutions have been built by EHS and sustainability experts who know the pressures businesses face. Time-tested, scalable, and configurable, CorityOne is the responsible business ecosystem that combines datasets from across the organization to enable improved efficiencies, actionable insights, data-driven decisions, and more accurate reporting on performance. Trusted by over 1,500 organizations worldwide, Cority deeply cares about helping people work toward a better future for everyone. To learn more, visit www.cority.com

    Media Contact

    Natalie Rizk
    RiotMind
    natalier@theriotmind.agency

    The MIL Network

  • MIL-OSI Asia-Pac: LCQ20: Reforming GEM

    Source: Hong Kong Government special administrative region

    LCQ20: Reforming GEM 
    Question:
     
         In 2023, the Hong Kong Exchanges and Clearing Limited (HKEX) conducted a consultation on the GEM (formerly known as “Growth Enterprise Market”) Listing Reforms and completed the amendment to the GEM Listing Rules. However, it has been reported that upon the introduction of a series of enhancement measures, only three enterprises were listed on GEM last year. Some members of the sector are of the view that GEM has still failed to perform its functions properly. In this connection, will the Government inform this Council:
     
    (1) whether it knows if the HKEX has assessed the effectiveness of the GEM reform, including whether the expected targets (not limited to the number of new listings and the amount of funds raised) have been achieved, and of the specific data or indicators showing that the attractiveness of GEM to issuers has been enhanced after the reform; if an assessment has been conducted, of the details; if not, the reasons for that;
     
    (2) as there are views pointing out that insufficient market liquidity and relatively low investor participation are the core problems of GEM, of the concrete measures put in place by the Government to enhance the market liquidity of GEM, so as to attract the participation of more overseas and local investors, thereby strengthening the vitality and resilience of the market;
     
    (3) whether the Government will join hands with the HKEX to review afresh the positioning of GEM and formulate strategies for its long-term development, as well as to work for co-ordination with other financial policies to ensure competitiveness and sustainable development of Hong Kong’s investment and capital raising markets;
     
    (4) as many small and medium enterprises (SMEs) have relayed that their desire to go listing on GEM has been dampened by the costs of listing which are on the high side, whether the Government will encourage the regulatory bodies to carry out reforms or relax the relevant listing requirements, so as to alleviate the financing costs of SMEs when going listing on GEM; if so, of the details; if not, the reasons for that; and
     
    (5) how the Government will provide a suitable financing platform to enable SMEs which are unable to meet the listing requirements of the Main Board to go listing in Hong Kong (irrespective of whether they are listed on the GEM or other new boards)?
     
    Reply:
     
    President,
     
         In consultation with the Securities and Futures Commission (SFC) and the Hong Kong Exchanges and Clearing Limited (HKEX), the reply to the five parts of the question is as follows:
     
         GEM is positioned to provide a fundraising platform for small and medium enterprises to support their innovation and development, value creation and business growth. To enhance the attractiveness of GEM to issuers and investors, the HKEX implemented a series of GEM reform measures in January 2024. These include introducing a new financial eligibility test for high growth enterprises that are heavily engaged in research and development activities; introducing a new “streamlined transfer mechanism”; aligning the continuing obligations of GEM issuers with those of the Main Board, etc.
     
         The Government, regulators and the HKEX have been closely monitoring the development of stock markets in different places and the effectiveness of relevant measures, as well as continuously reviewing the implementation experience and market conditions. Overall speaking, the initial public offering (IPO) market had gradually become more vibrant in 2024, and enterprises have been increasingly confident about Hong Kong’s financing prospects. In 2024, the amount of total IPO funds raised in Hong Kong exceeded $87 billion, an increase of close to 90 per cent year-on-year and ranking fourth globally. Since the GEM reform, three companies were listed on GEM in 2024. As of the end of March this year, the HKEX was processing over 100 listing applications including that for listing on GEM. As regards liquidity, trading volume in the securities market hit new highs, with the overall average daily turnover of the Main Board and GEM increasing by 26 per cent year-on-year. The overall average daily turnover for the first three months of this year increased by 144 per cent year-on-year. The average daily turnover of GEM in March this year was about $78 million, up 77 per cent year-on-year. Under the newly implemented “streamlined transfer mechanism”, one company was successfully transferred to the Main Board for listing in February this year.
     
         There are many factors that affect IPO listing activities and liquidity of GEM. For example, geopolitics affects global markets and capital flows, where investors’ risk appetite has become more conservative, placing more attention on mature companies supported by business track records. The demand of small and medium enterprises for listing and fundraising is also affected by various external factors such as economic growth slowdown, industry prospects, market investment sentiment, interest rate policies, etc.
     
         To dovetail with the latest economic trends and corporate needs, and thereby further enhance Hong Kong’s competitiveness as an all-rounded fundraising centre, the SFC and the HKEX are taking forward a comprehensive review on reforming the listing regime, including reviewing listing requirements and post-listing ongoing obligations, evaluating listing-related regulations and arrangements to improve the vetting process, optimising the thresholds for dual primary listing and secondary listing, and reviewing the market structure. The reform will study the functions and positioning of different segments to better serve the financing needs of enterprises of different types and backgrounds, including small and medium enterprises and start-ups. The HKEX and the SFC target to put forward enhancement proposals in different areas by batches when they are ready within this year for market consultation.
     
         Vetting of listing applications is an important step to review the compliance of listing applicants and maintain market quality. Its fundamental objective is to protect the rights and interests of the investing public who subscribe to the relevant stocks, especially some retail investors who may not have professional knowledge of corporate finance. According to the information of the HKEX, for the listing applications presented to the Listing Committee for consideration in the 12 months ended March 31, 2025, the median of total business days taken by the HKEX from listing application acknowledgement to issuance of hearing bundle letter was 28 days, while the median number of days required by listing applicants (Note) was 49 days. In maintaining certainty in listing schedule of enterprises, in addition to having clear and standardised procedures, efficient services provided by various professional institutions are also crucial to assist listing applicants in submitting the required information and responding to relevant issues raised by regulators. Currently, the cost of listing of enterprises mainly includes fees paid to sponsors, legal advisors, accountants and other professional services. The relevant fees are determined between listing applicants and professional institutions in accordance with market mechanism based on the circumstances of individual listing applications, which are not directly related to the requirements of regulators for approval of listing applications.
     
    Note: Including the time to respond to comments from the HKEX and the regulator, etc.
    Issued at HKT 14:30

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: LCQ8: Village sewerage systems

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Holden Chow and a written reply by the Secretary for Environment and Ecology, Mr Tse Chin-wan, in the Legislative Council today (April 30):
     
    Question:
     
         It is learnt that the Government commenced the rural trunk sewerage project in Kam Tin Heung (the trunk sewerage project) in as early as 2006, and the private housing courts completed in the vicinity have already been connected to the trunk sewer. However, there have yet to be any public sewer connection works carried out for quite a number of the villages under the Kam Tin Rural Committee, causing great distress to the villagers over the years. In this connection, will the Government inform this Council:
     
    (1) of the following information on the villages under the Kam Tin Rural Committee in relation to public sewer connection works (set out in a table): (i) the names of the villages where public sewer connection works have been completed or are being carried out, (ii) the titles of the relevant works projects as well as the time required/estimated for completing the works, and (iii) the names of the villages where no public sewer connection works have been carried out;
     
    (2) among the villages mentioned in (1)(iii) where no public sewer connection works have been carried out, of a list of those villages for which the authorities have plans to carry out such works, as well as the locations and commencement dates of such works (set out in a table);
     
    (3) of the commencement and completion dates of the trunk sewerage project, as well as the shortest distance for laying a sewer to connect to the trunk sewer from Kam Tin Heung; and
     
    (4) as it is learnt that in 2016, the Kam Tin Rural Committee made a request for improvement of the sewerage system of Kam Tin Heung, as well as proposed to lay sewers to connect to the aforesaid trunk sewer, whether the authorities will carry out such works for Kam Tin Heung; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         The Government has all along been allocating resources with a view to taking forward the Village Sewerage Programme (the Programme) to progressively provide public sewerage facilities in village areas for improving rural environment and enhancing the water quality of rivers and coastal waters. Currently, the sewerage systems for 17 village areas in Yuen Long district have been completed. 

         The Government’s consolidated reply to the question raised by the Hon Holden Chow is as follows:

    (1) and (2) The Programme currently covers nine village areas in Kam Tin, Yuen Long. Among them, the Drainage Services Department commenced the village sewerage works for part of Kam Tin Shi in 2020 and completed the works in 2024, while the investigation study for the sewerage systems of the other eight village areas has been completed. Relevant information is tabulated below:
     

    Progress No. of village areas Names of project and village areas
    Sewerage works completed 1 Village sewerage at Kam Tin Shi, Kam Tin – Kam Tin Shi (part)
    Investigation study completed 8 Village sewerage for Kam Tin, Yuen Long (Stage 1) – Ha Ko Po, Ko Po San Tsuen, Ko Po Tsuen (Kam Tin), Tsz Tong Tsuen (Kam Tin), Wing Lung Wai, Kam Tin San Tsuen, Tai Hong Wai and Kat Hing Wai

     
         Given the large number of village areas scattered over an extensive area in Yuen Long district, the Government will take into account various factors, including level of improvement to the environment by the Programme, density of village population, preference of residents, technical feasibility, cost-effectiveness and financial position, to plan relevant works for the remaining village areas in Kam Tin in a timely manner.

    (3) and (4) The works project of Kam Tin trunk sewers commenced in 2005. However, due to a lack of consensus among stakeholders and congestion of underground utilities along the route, parts of the trunk sewers of the Kam Tin village sewerage were not completed concurrently upon project completion in 2011. Nevertheless, the constructed trunk sewers are still available for connection to the aforementioned village areas in Kam Tin. In general, the distance for laying branch sewer to connect to trunk sewer is considered during the detailed design stage of individual village sewerage projects.

         The Government will continue to strengthen communication with stakeholders such as District Councils, Rural Committees, and village representatives for the orderly planning and implementation of the village sewerage projects. Residents in village areas yet to be provided with public sewerage at present, including some remote and sparsely populated villages, can continue to use on-site sewage treatment facilities such as septic tanks and soakaway systems to treat their sewage.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: LCQ6: Reduction of civil service establishment

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Lai Tung-kwok and a written reply by the Secretary for the Civil Service, Mrs Ingrid Yeung, in the Legislative Council today (April 30):
     
    Question:

         The Government has announced that it will reduce the civil service establishment by two per cent each year in 2026-2027 and 2027-2028, based on the establishment of the preceding financial year. Together with the civil service establishment reduced under the zero-growth policy for the civil service establishment implemented since 2021-2022, about 10 000 posts are expected to be deleted from the civil service establishment by April 1, 2027, within the term of the current Government. In addition, since March 31, 2021, there has been a cumulative reduction of around 2 000 posts in the civil service establishment, of which about 1 200 posts have been reduced between 2023-2024 and 2024-2025. In this connection, will the Government inform this Council:

    (1) of the cumulative number of posts in the civil service establishment that have been deleted since the current Government’s term of office;

    (2) of the changes in the civil service establishment of policy bureaux/government departments/offices since the current Government’s term of office;

    (3) as the authorities have indicated that the two per cent reduction in the civil service establishment in 2026-2027 and 2027-2028 will be achieved by treating each policy bureau and its subordinate government departments as a unit and reducing their total establishment by a uniform percentage, of the total establishment of each policy bureau and the government departments under its purview at present;

    (4) whether, in conjunction with the reduction of the civil service establishment, the authorities will engage outsourced contract staff or non-civil service contract staff to maintain staffing levels; if so, of the details; if not, the reasons for that; and

    (5) given that the Government is actively implementing computerisation to increase efficiency, whether the Government will study the abolition of obsolete grades or further reduction of posts; if so, of the details; if not, the reasons for that?

    Reply:

    President,

         Regarding the question raised by the Hon Lai Tung-kwok, the consolidated reply is as follows:

         To ensure the sustainability of public finances, the civil service establishment (Note) has maintained zero-growth since 2021-22 with the overall establishment controlled at a level not exceeding that as at end-March 2021 (about 196 000 posts). It does not mean there is no growth in the establishment of each bureau/department (B/D), which may still increase having regard to operational needs and with full justifications. Posts no longer required for operation will be deleted. It is anticipated that by March 31, 2026, the civil service establishment will have a reduction by approximately 3 000 posts on a cumulative basis. The current Government’s term of office commenced in July 2022. The change in the civil service establishment by bureaux/departments/offices and the total establishment of each bureau and its departments in 2022-23 and 2025-26 are set out in Annex.

         To optimise the use of manpower resources and to control public expenditure, the 2025-26 Budget proposed that the Government will reduce the civil service establishment by two per cent each in 2026-27 and 2027-28 basing on the establishment of the preceding financial year. Together with the civil service establishment reduced under the civil service establishment zero-growth policy implemented before 2026-27 by this term of Government, about 10 000 posts are expected to be deleted from the overall civil service establishment by April 1, 2027 within the current-term Government. 

         The Government will reduce the establishment on a bureau basis, reducing the total establishment of each bureau and its departments by an across-the-board percentage (i.e. two per cent each in 2026-27 and 2027-28). The reduction rates within a bureau and its departments need not be standardised. A bureau can determine the civil service posts to be deleted and ranks combination after itself and its departments have considered factors like the overall service demand, operational needs and vacancy situations, etc. The resources saved will be counted towards the two per cent savings of the recurrent expenditure of the B/Ds concerned for the respective financial years under the Government’s Productivity Enhancement Programme (PEP). 

         Under the PEP, B/Ds adopt the most suitable mode of public service delivery, like employing civil servants or non-civil service contract (NCSC) staff, or service outsourcing, having regard to such factors as operational needs, financial resources, service nature and effectiveness, etc. At the same time, B/Ds adopt management measures and digitalisation with a view to enhancing efficiency and optimising the use of manpower resources through reprioritisation, internal redeployment, streamlining of work processes and application of technology, such that high-quality public services will continue to be provided to the citizens, while the civil service establishment is being streamlined in parallel. If B/Ds adopt methods of public service delivery that incur additional expenditure, such as employing NCSC staff or service outsourcing, they must bear in mind that their recurrent expenditure will be reduced by two per cent in the respective financial years under the PEP and they should spend within their means. 

         The Government will continue to monitor from time to time whether the manpower requirements and functions of different grades and ranks need adjustments due to the changes in operations or circumstances, or due to technology application. For individual grades, if their future manpower needs are uncertain, such as those with surplus staff or those undergoing institutional reviews, they will be classified as “Controlled Grades”. These grades require the approval of the Civil Service Bureau before conducting recruitment exercises, which is not lightly granted unless they have clear prospect for development and the demand for manpower is obvious and certain. Besides, B/Ds will also delete posts which are no longer required for their operations. For grades that no longer have any establishment and strength, we will seek the approval of the Finance Committee of the Legislative Council for deletion of those grades in due course.

    Note: The civil service establishment does not include (i) Judges and Judicial Officers, (ii) Independent Commission Against Corruption officers and (iii) locally engaged staff of overseas Economic and Trade Offices.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Report No. 84 of the Director of Audit

    Source: Hong Kong Government special administrative region

         Report No. 84 of the Director of Audit on the results of value for money audits was tabled in the Legislative Council this morning (April 30).

         A value for money audit is an examination into the economy, efficiency and effectiveness with which any bureau of the Government Secretariat, department, agency or other public body has discharged its functions. Report No. 84 of the Director of Audit covers a variety of subjects on the administration of government programmes and provision of public services.

         Report No. 84 comprises the following eight chapters:  
     

    Chapter   Subject
    1 Dedicated Fund on Branding, Upgrading and Domestic Sales
    2 Hong Kong Council for Accreditation of Academic and Vocational Qualifications
    3 Lantau Conservation Fund
    4 Management of Mandatory Window Inspection Scheme by the Buildings Department
    5 Maritime and Aviation Training Fund
    6 Street cleansing services
    7 The Society for the Aid and Rehabilitation of Drug Abusers
    8 Working Family Allowance Scheme

               
         Report No. 84 of the Director of Audit on the results of value for money audits is available on the Audit Commission’s website at www.aud.gov.hk.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Provisional financial results for year ended March 31, 2025

    Source: Hong Kong Government special administrative region

    Provisional financial results for year ended March 31, 2025 
         Expenditure and revenue for the year ended March 31, 2025 amounted to HK$753.2 billion and HK$564.9 billion respectively, resulting in a deficit of HK$80.3 billion after taking into account HK$130 billion received from issuance of Government Bonds and repayment of HK$22 billion principal on Government Bonds.
     
         Expenditure and revenue for the year were 3 per cent (HK$23.7 billion) and 10.8 per cent (HK$68.1 billion) lower than the original estimate respectively.
     
         The consolidated deficit for the year was HK$80.3 billion, i.e. HK$6.9 billion lower than the revised estimate of HK$87.2 billion. Revenue was HK$5.3 billion (1 per cent) higher than expected, mainly attributable to stamp duties ($5.9 billion higher) and salaries tax ($0.9 billion higher). Expenditure was HK$1.5 billion (0.2 per cent) lower than the revised estimate mainly due to lower-than-expected requirements.
     
         The fiscal reserves stood at HK$654.3 billion as at March 31, 2025.
     
         A Government spokesperson said that these are provisional figures pending the final closing of the annual accounts. According to experience, any changes to the provisional figures are unlikely to be significant.
     
         Detailed figures are shown in Tables 1 and 2.
     
    TABLE 1. CONSOLIDATED ACCOUNT (PROVISIONAL) (Note 1)
     

     
     March 31, 2025
    HK$ millionMarch 31, 2025
    HK$ millionand repayment of
    Government Bondsissuance of
    Government BondsGovernment Bonds*and repayment of
    Government BondsGovernment Debts as at March 31, 2025 (Note 3)
        HK$299,344 million
    Debts Guaranteed by Government as at March 31, 2025 (Note 4)
        HK$127,472 million

    TABLE 2. FISCAL RESERVES (PROVISIONAL)
     

     
     March 31, 2025
    HK$ millionMarch 31, 2025
    HK$ millionissuance and repayment of
    Government Bonds(Note 5)Notes:

    1. This Account consolidates the General Revenue Account and the following eight Funds: Capital Works Reserve Fund, Capital Investment Fund, Civil Service Pension Reserve Fund, Disaster Relief Fund, Innovation and Technology Fund, Land Fund, Loan Fund and Lotteries Fund. It excludes the Bond Fund, the balance of which is not part of the fiscal reserves. The Bond Fund balance as at March 31, 2025, was HK$225,261 million. 
    (i) the Green Bonds (equivalent to HK$194,375 million as at March 31, 2025) issued under the Government Sustainable Bond Programme. They were denominated in US dollars (US$9,950 million with maturity from January 2026 to January 2053), euros (4,580 million euros with maturity from February 2026 to November 2041), Renminbi (RMB34,000 million with maturity from June 2025 to July 2054) and Hong Kong dollars (HK$42,000 million with maturity from May 2025 to October 2026);
     
    (ii) the Infrastructure Bonds (equivalent to HK$50,177 million as at March 31, 2025) issued under the Infrastructure Bond Programme. They were denominated in Renminbi (RMB13,500 million with maturity from December 2025 to November 2034) and Hong Kong dollars (HK$35,730 million with maturity from November 2025 to March 2045); and
     
    (iii) the Silver Bonds with nominal value of HK$54,792 million (with maturity in October 2027 and may be redeemed before maturity upon request from bond holders) issued under the Infrastructure Bond Programme.
     
         They do not include the outstanding bonds with nominal value of HK$176,340 million and alternative bonds with nominal value of US$1,000 million (equivalent to HK$7,778 million as at March 31, 2025) issued under the Government Bond Programme with proceeds credited to the Bond Fund. Of these bonds under the Government Bond Programme (including Silver Bonds with nominal value of HK$96,340 million, which may be redeemed before maturity upon request from bond holders), bonds with nominal value of HK$6,500 million were repaid upon maturity on April 14, 2025; bonds with nominal value of HK$68,590 million will mature within the period from May 2025 to March 2026 and the rest within the period from April 2026 to May 2042.Issued at HKT 16:30

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: LCQ7: Developing the halal market

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Yung Hoi-yan and a written reply by the Secretary for Commerce and Economic Development, Mr Algernon Yau, in the Legislative Council today (April 30):
     
    Question:
     
         It has been reported that the global Muslim population currently exceeds 2 billion, representing about 25 per cent of the world’s total population. Based on the State of the Global Islamic Economy Report 2022 released by DinarStandard in 2023, Muslims spent US$2.29 trillion in 2022 on, among others, food, pharmaceuticals, cosmetics, fashion and travel, and the global Islamic finance assets are expected to reach US$5.96 trillion by 2026. There are views that Hong Kong should expand its share of the international halal market in the countries along the Belt and Road, and strengthen industrial co-operation with the relevant countries. Regarding the development of the halal market, will the Government inform this Council:
     
    (1) whether it has kept information on the Gross Domestic Product (GDP) contributed to Hong Kong by the halal industry; if so, of the respective GDP generated in Hong Kong in each of the past five years by the products or industries in the halal market (i.e. (i) food and beverages, (ii) pharmaceutical and health products, (iii) cosmetics, (iv) fashion, (v) hotel and tourism, and (vi) financial services); if not, whether it has plans to compile statistics and keep the relevant information from now on;
     
    (2) whether it has kept information on Hong Kong enterprises which have exported goods to Muslim countries; if so, of the number of Hong Kong enterprises which have exported goods to Muslim countries in each of the past five years, the types of their goods and the respective GDP involved; if not, whether it has plans to compile statistics and keep the relevant information from now on;
     
    (3) whether it knows if the products currently re-exported through Hong Kong can be sold in the relevant Muslim countries after being certified by the Incorporated Trustees of the Islamic Community Fund of Hong Kong in accordance with Islamic law and procedures; if so, of the details; if not, what channels are available for such re-exported products to be sold in Muslim countries; and
     
    (4) whether it has plans to introduce a “halal certification system” and conduct mutual recognition of halal certification with major Muslim countries, so as to become a core corridor for certification and trade between related Mainland production enterprises and the halal consumer market, thereby promoting a steady growth in the trading volume of halal products in Hong Kong; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
         Upon consulting the Culture, Sports and Tourism Bureau and the Financial Services and the Treasury Bureau, the consolidated reply to the Hon Yung Hoi-yan’s question is as follows:
     
         Emerging markets such as the Middle East, the Association of Southeast Asian Nations (ASEAN) and other countries along the Belt and Road (B&R) have been the Government’s valued trade and economic partners. These countries’ economic development is growing rapidly and their markets possess vast potential, alongside enormous population of Muslims. The Government has been actively encouraging various sectors of society to seize business opportunities in these markets, so that they can develop in areas such as trade, tourism and finance and provide products and services tailored to the needs of these emerging markets, including the Muslim population therein.
     
         According to the information provided by the Census and Statistics Department (C&SD), the total value of Hong Kong’s domestic exports to Muslim countries (Note) increased from HK$2.7 billion in 2020 to HK$5.5 billion in 2024 whilst the total value of Hong Kong’s re-exports to Muslim countries increased from HK$178.8 billion in 2020 to HK$215.8 billion in 2024, recording an average annual growth rate of about 19.0 per cent and 4.8 per cent respectively in the past five years. The values of Hong Kong’s domestic exports and re-exports to individual Muslim countries in the past five years are at Appendices 1 and 2 respectively. Amongst others, major commodities of Hong Kong’s domestic exports to Muslim countries include “beverages”, “jewellery, goldsmiths’ and silversmiths’ wares, and other articles of precious or semi-precious materials” and “petroleum, petroleum products and related materials”, whilst major commodities of Hong Kong’s re-exports to Muslim countries include “telecommunications and sound recording and reproducing apparatus and equipment”, “electrical machinery, apparatus and appliances, and electrical parts thereof” and “office machines and automatic data processing machines”. The C&SD does not separately maintain information about the number of companies in Hong Kong exporting products to Muslim countries nor the relevant value of gross domestic product.
     
         Besides, although the “halal industry” does not have standard international industrial classifications like the retail and the catering industries rendering it impossible to draw up corresponding statistical coverage of the “halal industries” for compiling relevant information, the Government has been actively encouraging various sectors of society to seize opportunities in these halal markets, including promoting developments in areas such as trade, tourism and finance.
     
         In terms of trade, meeting the requirements for relevant halal product certifications and understanding the opportunities and challenges within the relevant markets are crucial. In this regard, the Hong Kong Trade Development Council (HKTDC) has been conducting research on individual key halal markets to understand their latest developments, and providing practical information to Hong Kong businesses, including the information on relevant product certification bodies. Furthermore, the HKTDC has also been providing various platforms to promote business opportunities in the halal market. For example, the HKTDC has been promoting different high-quality halal products and food, as well as related trading of products, at its annual Food Expo PRO to help the catering industry to expand its network and businesses. To assist Hong Kong enterprises in grasping the opportunities of the halal food market and facilitate buyers in procurement, the HKTDC introduced the Halal Showcase and added halal food and beverage labels to relevant exhibitors in the 2024 Food Expo PRO. The event also offered different seminars, explaining the requirements of halal food certification and analysing market opportunities and challenges, in order to promote multi-faceted business opportunities relevant to halal food to the businesses.
     
     
         In 2025-26, the HKTDC will arrange for local halal food manufacturers to participate in its Food Expo PRO to strengthen their collaboration with other halal food markets, as well as set up relevant pavilions at the Food Expo PRO to showcase more halal food and products and further explore Islamic business opportunities.
     
         At the same time, the Government strives to assist Hong Kong enterprises in developing more diversified markets and enhancing their competitiveness through various funding schemes and support measures. Among others, the Dedicated Fund on Branding, Upgrading and Domestic Sales provides funding support for enterprises to develop business in 40 economies with which Hong Kong has signed free trade agreements and/or investment promotion and protection agreements (IPPAs), including seven Muslim countries. Also, the SME Export Marketing Fund provides funding support for enterprises to participate in export promotion activities, promoting appropriate products and services to the Muslim population in markets outside Hong Kong.
     
         The Government will continue to actively explore emerging markets, including ASEAN, the Middle East and markets along the B&R, which have large Muslim population. The Government has been actively visiting ASEAN Member States to maintain close communication. For example, from 2022 to 2024, the Chief Executive led delegations to visit seven ASEAN Member States, concluding nearly 90 memoranda of understanding (MOU) and agreements, which helped create business opportunities for Hong Kong and strengthened friendships between the two places. The Government has also been actively reaching out to potential partners in the region, and signed an IPPA with Bahrain in March 2024, which is the third IPPA signed with economies in the Middle East region after the ones with Kuwait and the United Arab Emirates. At the same time, we are exploring the signing of IPPAs with Saudi Arabia, Bangladesh, Egypt and Peru.
     
         In view of the huge economic potential of the countries along the B&R (including those with large Muslin population), Invest Hong Kong (InvestHK) set up consultant offices in Cairo, the capital of Egypt, and Izmir, the third largest city in Türkiye, within 2024-25 according to the 2023 Policy Address and 2024-25 Budget. This will be beneficial to attracting capital and enterprises from these two member states of the Organisation of Islamic Cooperation and seizing relevant business opportunities.
     
         In respect of tourism, the Chief Executive stated in the 2024 Policy Address that the Government would actively develop visitor sources from the Middle East and ASEAN which have large Muslim population to seize opportunities. It is estimated that by 2028, there will be 250 million Muslim visitors worldwide and tourism receipts will reach US$225 billion.
     
         To encourage the travel trade to enhance Muslim-friendly tourism facilities, the Hong Kong Tourism Board (HKTB) has commissioned the internationally recognised halal travel promotion company CrescentRating since 2024 to carry out a series of work to study how Hong Kong can further enhance its “Muslim-friendly” tourism facilities, and assess local hotels, attractions and meetings, incentive travels, conventions and exhibitions (MICE) venues based on categories and standards on par with international benchmarks while taking into account Hong Kong’s actual situation. As at mid-April this year, 61 hotels, and five attractions and MICE venues have successfully applied for and obtained the ratings from CrescentRating.
     
         Besides, to encourage restaurants to obtain halal-related certification, the HKTB works with local halal certification authority, the Incorporated Trustees of the Islamic Community Fund of Hong Kong (Board of Trustees, BOT), to promote existing accreditations in the city and encourage food and beverage establishments to apply for certification. As at mid-April this year, the number of certified restaurants has increased from about 100 at the beginning of 2024 to more than 170, which also include high-end Chinese restaurant, Cantonese restaurant and contemporary Hong Kong-style noodle restaurants. In addition, four brands in the city are now offering halal-certified bakery products to provide more choices of souvenirs for Muslim visitors.
     
         Regarding financial services, the Government amended the laws in 2013 and 2014 to provide a tax structure for sukuk comparable with that for conventional bonds, and to allow for the issuance of sukuk under the Government Bond Programme. Thereafter, the Government issued three sukuk, totalling US$3 billion, under the Government Bond Programme, to demonstrate the viability of Hong Kong’s finance platform and that our legal, regulatory and taxation framework can readily support sukuk issuances of different structures. Besides, an array of Islamic financial products and services have been introduced in Hong Kong, including the listing of global sukuk on the Hong Kong Exchanges and Clearing Limited (HKEX), Shariah-compliant equity indices and Islamic banking windows. Asia’s first exchange-traded fund (ETF) tracking the Saudi Arabia market was also listed on the HKEX in November 2023.
     
         In the area of investment co-operation, the Hong Kong Monetary Authority signed an MOU with the Public Investment Fund of Saudi Arabia (PIF) to jointly anchor a new investment fund of US$1 billion to facilitate companies with nexus to Hong Kong and the Greater Bay Area to develop their business in Saudi Arabia. The Government will continue to expand market development efforts, including promoting the advantages of Hong Kong’s financial system and market, so as to explore further collaboration with Islamic markets in the area of finance.
     
    Note: The “Muslim countries” as mentioned in this reply refer to the 57 Members of the Organisation of Islamic Cooperation.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Monetary Statistics for March 2025

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:

    According to statistics published today (April 30) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.8 per cent in March 2025. Among the total, Hong Kong dollar deposits and foreign currency deposits increased by 1.6 per cent and 0.1 per cent respectively in March. In the first quarter of 2025, total deposits and Hong Kong dollar deposits increased by 3.5 per cent and 5.1 per cent respectively. Renminbi deposits in Hong Kong decreased by 7.3 per cent in March to RMB959.8 billion at the end of March, mainly reflecting fund flows of corporates. The total remittance of renminbi for cross-border trade settlement amounted to RMB1,184.0 billion in March, compared with RMB1,064.1 billion in February. It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.
     
    Total loans and advances increased by 1.1 per cent in March, and increased by 0.6 per cent in the first quarter of 2025. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 1.2 per cent and 0.8 per cent respectively in March. The Hong Kong dollar loan-to-deposit ratio decreased to 72.3 per cent at the end of March from 73.5 per cent at the end of February, as Hong Kong dollar deposits increased while Hong Kong dollar loans decreased.
     
    For the first quarter of 2025 as a whole, loans for use in Hong Kong (including trade finance) increased by 0.5 per cent after decreasing by 0.1 per cent in the previous quarter. Analysed by economic use, loans to financial concerns increased, while loans to building, construction, property development and investment decreased.
     
    Hong Kong dollar M2 and M3 both increased by 1.5 per cent in March, and both increased by 7.7 per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 increased by 0.8 per cent in March and increased by 7.0 per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 0.7 per cent in March. Compared to a year earlier, total M2 and total M3 both increased by 10.8 per cent. 
     
    As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal and IPO-related funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: LCQ1: Costs of developing and operating public housing

    Source: Hong Kong Government special administrative region

    LCQ1: Costs of developing and operating public housing 
    Question:
     
         The 2025-2026 Budget mentioned that the total public housing supply would reach 190  000 units in the next five years. Regarding the costs of developing and operating public housing, will the Government inform this Council:
     
    (1) given that the Government has been granting land for the development of public housing at nominal premium, premium below the market value or nil premium, of the respective amounts of land premium waived for public housing projects of the Hong Kong Housing Authority (HA) and the Hong Kong Housing Society (HKHS) as well as the number of units involved in each of the past five and the coming three financial years, and set out in the table below a breakdown by projects (i.e. (i) public rental housing (PRH)/Green Form Subsidised Home Ownership Scheme (GSH) and (ii) other subsidised sale flats under HA, as well as (iii) rental estates and (iv) subsidised sale housing projects under HKHS):
     

    Financial year(2) of the respective average construction costs (including (i) per square foot of the construction floor area and (ii) per flat) of PRH/rental housing units and subsidised sale flats constructed by HA and HKHS in each of the past five and the coming three financial years, with a breakdown by type of projects;
     
    (3) of the respective expenditures spent by HA and HKHS on site formation and infrastructural works for public housing in each of the past five and the coming three financial years, and the respective numbers of flats involved, as well as the respective ratios of expenditures on PRH/rental estates and subsidised sale flats;
     
    (4) given that according to the paper on the budgets and financial forecasts issued by HA in January this year (the paper), the largest expenditure item under the rental housing operating account is the item “other recurrent expenditure”, of the expenditure/estimates incurred by each of the sub-items of this item in each of the past five and the coming three financial years;
     
    (5) of the actual expenditure involving government rent and rates in HA’s rental housing operating account in each of the past five financial years, and the amount of rates concession provided by the Government in each of these years; and
     
    (6) given that according to the paper, HA’s construction expenditure included items such as “Government non-reimbursement projects”, “Government-funded projects” and “in-house supervision and administration costs”, of the specific work covered by these items?
     
    Reply:
     
    President,
     
         In consultation with the Lands Department, the reply to the question raised by Dr the Hon Wendy Hong is as follows:
     
    (1) In the past five and coming three financial years, the number of units involved in the public housing projects of the Hong Kong Housing Authority (HA) and the Hong Kong Housing Society (HKHS), and the respective amounts of land premium waived, are set out by year at Annex.
     
    (2) As a financially autonomous public body, the HA funds its public housing programmes with its own resources. Each year, the Housing Department (HD) prepares the average construction costs per flat of Public Rental Housing (PRH)/Green Form Subsidised Home Ownership Scheme (GSH) and other Subsidised Sale Flats (SSF) projects based on the cost of building tenders approved by the HA in the preceding financial year. The construction costs will be released by the HA Finance Committee after being considered in its meeting.
     
         As the number of building tenders approved by the HA in each financial year and factors such as scale and design of projects, market conditions, etc. are different, the average construction cost per flat varies year to year. From 2020-21 to 2023-24 financial years (Note 1), the average construction costs per flat of PRH/GSH projects and other SSF projects based on the cost of building tenders approved by the HA are set out below:
     

    Financial YearEach year, the HD also reports the average construction costs for superstructure (Note 2) of the preceding financial year to the HA. From 2020/21 to 2023/24 financial years (Note 3), the average construction costs per square foot of construction floor area (ft2-CFA) for superstructure are set out below:
     

    Financial Yearfor superstructure ($) (approx.)     According to existing mechanism, the HD closely monitors changes in market conditions. In compiling and managing the cost budget of new projects, the HD will take various factors into consideration, including tender price trend, anticipated rate of price increase, development programmes, etc. to ensure smooth implementation of public housing schemes.
     
         To further enhance cost-effectiveness of public housing construction, the HD will continue to explore and implement enhancement measures on construction cost control.
     
         The study direction includes the development of a framework for optimising construction cost control, covering areas such as planning, design, application of advanced technologies and innovative construction methods, procurement models, and approval processes. The framework enables a thorough review and optimisation of various processes to effectively manage the construction costs. It also acts in concert with the inter-departmental “Action Group for Expediting Construction for Public Housing” led by the Secretary for Housing, which identifies, streamlines, and resolves inter-departmental issues encountered during public housing developments through strengthening inter-departmental co-operation so as to expedite the progress and further enhance cost-effectiveness of public housing projects.
     
         According to the information provided by the HKHS, from 2020/21 to 2023/24 financial years (Note 4), the average construction cost per rental flat remained at around $1.1 million based on the project contract sum awarded by the HKHS. As for the HKHS’s SSF, each of which is equipped with a green balcony and utility platform, interior finishes such as tiled flooring, partition walls and doors for each room, as well as household appliances such as air conditioners, water heater, cooking hobs, etc., the average construction cost per flat was around $1.6 million.
     
         Due to the differences in design and provisions of the HKHS’s and the HA’s projects, generally speaking, the average construction cost per flat of the HKHS would be about 15 to 30 per cent higher than that of the HA.
     
         The HKHS is actively enhancing its cost efficiency as well as promoting construction digitalisation by applying Digital Works Supervision System and Smart Site Safety System, with a view to enhancing quality control and project management efficiency.
     
    (3) The Government’s expenses under the Capital Works Reserve Fund (CWRF) Head 711 are for the implementation of public housing-related site formation and infrastructure projects undertaken by the Government, while the HA is responsible for the expenditure on the construction of public housing. Besides, quite a number of projects associated with the supply target of public housing are funded by other heads of expenditure under the CWRF.
     
         As for Head 711 under the CWRF, the yearly expenditures of works projects in the past five and current fiscal year (Note 5), including infrastructure works with funding approved or pending funding approval by the Finance Committee to support the implementation of public housing developments undertaken by the HA, are tabulated below:
     

    Financial Year($ million)     As for Head 711 under the CWRF, the expenditures for the past five financial years involve about 98 000 flats for completion in 2024/25 or before, comprising about 83 000 PRH/GSH flats and about 15 000 other SSF flats. The expenditure ratio of the two is about 74 per cent and 26 per cent.
     
         Besides, for Head 711 under the CWRF, some 64 000 flats are estimated to be completed in the coming five-year period (Note 7) (i.e. 2025/26 to 2029/30), comprising about 44 000 PRH/GSH flats and about 21 000 other SSF flats. The expenditure ratio of the two is about 56 per cent and 44 per cent. During project development, the HA will maintain flexibility in housing types and make timely adjustments of the respective supply in order to respond more appropriately to the needs of the community.
     
         As regards the HKHS’s rental and SSF projects, most of the sites handed over to the HKHS by the Government have had the site formation and infrastructure works completed. From 2020/21 to 2025/26 financial years, the HKHS’s total expenditure on site formation works (such as slope maintenance and stabilisation) and infrastructure works (such as temporary roads, road widening, etc.) was approximately over $300 million, concerning six projects.
     
    (4) “Other recurrent expenditures” of the Rental Housing Operating Account are mainly expenses related to estate management, including security, cleansing, electricity charges, estate property management and management fees for estate common areas. The related expenditure for the past five financial years and the next three financial years are as follows:
     

    Financial Year($ million)(5) The actual annual expenditure on government rent and rates of Rental Housing Operating Account in the past five financial years, as well as the rates concessions provided by the Government each year, are as follows:
     

    Financial Year($ million)($ million)# The rates of public rental housing as assessed by Rating and Valuation Department are on a block/floor basis, the HA will pass on the rates concession to tenants according to the respective unit’s share of internal floor area against the total rates of the whole domestic block. As the amount of rates concession is deducted from the rates payable of individual properties, the HA has not calculated the actual total amount of rates concession.
     
    (6) Government non-reimbursable projects mainly include public transport interchanges (PTI) within development projects. Except individual projects which have been committed, the HA is no longer responsible for committing the expenditure related to PTIs after 2007.
     
         The HA provides supervision services and construction of Government-funded projects in new development projects including welfare and community facilities such as schools, residential care homes for elderly, day care centres for the elderly, child care centres, etc.
     
         In-house supervision and administration costs are mainly expenses of the relevant divisions of the HA responsible for supervision of construction projects, including personal emoluments, administrative costs, etc.
     
    Note 1: The figure for 2024/25 financial year is not yet available. 
    Note 2: The construction cost for superstructure excludes costs of demolition, site formation, foundation, underground drainage, external works, other separate contracts for works such as utilities connection/road diversion, etc. These costs vary a lot from project to project subject to site constraints.
    Note 3: The figure for 2024/25 financial year is not yet available.
    Note 4: The figure for 2024/25 financial year is not yet available.
    Note 5: As the estimate beyond 2025/26 financial year will be subject to the project implementation schedule and works progress, the estimated expenditures of 2026/27 and 2027/28 will be published in the related budgets of the Government in future.
    Note 6: 2020/21 to 2023/24 are actual expenditures; 2024/25 expenditures refer to the Revised Estimate; and 2025/26 expenditures refer to the Estimate.
    Note 7: Based on the forecast as at December 2024.
    Note 8: The figures from 2020/21 to 2023/24 are actual expenditures. The figure of 2024/25 is the Revised Budget and 2025/26 is the Approved Budget.
    Issued at HKT 17:15

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Social and Care Support Service to roll out under Residential Care Services Scheme in Guangdong

    Source: Hong Kong Government special administrative region

    ​The Social Welfare Department (SWD) announced today (April 30) that the New Home Association Limited (NHAL) has been commissioned to provide Social and Care Support Service under the Residential Care Services Scheme in Guangdong starting from tomorrow (May 1) to provide support to elderly participants and their families. 

    The Social and Care Support Service is one of the measures announced in the 2024 Policy Address to help elderly participants of the Scheme better adapt to the life in the residential care homes for the elderly (RCHEs) on the Mainland and receive timely assistance when needed.

         The NHAL will provide support services for the elderly participants under the Scheme, especially during the initial six-month trial period upon admission into the RCHEs, to assist them in understanding the Mainland’s medical systems and care services, maintain connections with their families in Hong Kong, and provide them with suitable advice and assistance in handling such matters as housing, medical care, financial matters, etc in Hong Kong. Continuous support will also be rendered in accordance with their needs upon completion of the trial period. 

    The Social and Care Support Service will also conduct assessments under the Standardised Care Need Assessment Mechanism for Elderly Services and follow up applications for those Hong Kong elderly who have settled in Guangdong Province and are interested in joining the Scheme at their places of residence.

    Details of the Scheme are available at the SWD’s website (www.swd.gov.hk/en/pubsvc/elderly/cat_residentcare/subrcheplace/guangdong).

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: PM to visit Maharashtra, Kerala and Andhra Pradesh on 1st and 2nd May

    Source: Government of India

    PM to visit Maharashtra, Kerala and Andhra Pradesh on 1st and 2nd May

    PM to inaugurate the World Audio Visual and Entertainment Summit (WAVES) in Mumbai

    India to host the Global Media Dialogue with Ministerial participation from around 25 countries

    PM to dedicate to the nation Vizhinjam International Deepwater Multipurpose Seaport in Kerala

    It is India’s first dedicated container transshipment port

    PM to lay the foundation stone, inaugurate and dedicate to the nation multiple development projects worth over Rs 58,000 crore in Amaravati

    In a major boost to connectivity in the region, PM to inaugurate and lay the foundation stone of multiple road and rail projects in Andhra Pradesh

    Posted On: 30 APR 2025 1:00PM by PIB Delhi

    Prime Minister Shri Narendra Modi will visit Maharashtra, Kerala and Andhra Pradesh on 1st and 2nd May. He will travel to Mumbai on 1st May, and at around 10:30 AM, he will inaugurate the World Audio Visual and Entertainment Summit (WAVES).

    Thereafter he will travel to Kerala and on 2nd May, at around 10:30 AM, he will dedicate to the nation Vizhinjam International Deepwater Multipurpose Seaport. He will also address the gathering on the occasion.

    Further, he will travel to Andhra Pradesh and at around 3:30 PM, he will lay the foundation stone, inaugurate and dedicate to the nation multiple development projects worth over Rs 58,000 crore in Amaravati. He will also address the public function.

    PM in Maharashtra

    Prime Minister will inaugurate WAVES 2025, India’s first-of-its-kind World Audio Visual and Entertainment Summit at the Jio World Centre, Mumbai. The four-day summit with tagline “Connecting Creators, Connecting Countries” is poised to position India as a global hub for media, entertainment, and digital innovation by bringing together creators, startups, industry leaders, and policymakers from across the world.

    In line with Prime Minister’s vision of leveraging creativity, technology, and talent to shape a brighter future, WAVES will integrate films, OTT, gaming, comics, digital media, AI, AVGC-XR, broadcasting, and emerging tech, making it a comprehensive showcase of India’s media and entertainment prowess. WAVES aims to unlock a $50 billion market by 2029, expanding India’s footprint in the global entertainment economy.

    At WAVES 2025, India will also host the Global Media Dialogue (GMD) for the first time, with ministerial participation from 25 countries, marking a milestone in the country’s engagement with the global media and entertainment landscape. The Summit will also feature the WAVES Bazaar, a global e-marketplace with over 6,100 buyers, 5,200 sellers, and 2,100 projects. It aims to connect buyers and sellers locally and globally, ensuring wide-reaching networking and business opportunities.

    Prime Minister will visit the Creatosphere and interact with creators, selected from the 32 Create in India Challenges launched nearly a year ago, which garnered over one lakh registrations. He will also visit the Bharat Pavilion.

    WAVES 2025 will witness participation from over 90 countries, with more than 10,000 delegates, 1,000 creators, 300+ companies, and 350+ startups. The summit will feature 42 plenary sessions, 39 breakout sessions, and 32 masterclasses spanning diverse sectors including broadcasting, infotainment, AVGC-XR, films, and digital media.

    PM in Kerala

    Prime Minister will dedicate to the nation Vizhinjam International Deepwater Multipurpose Seaport worth Rs 8,900 crore. It is country’s first dedicated container transshipment port that represents the transformative advancements being made in India’s maritime sector as part of the unified vision of Viksit Bharat.

    Vizhinjam Port, having strategic importance, has been identified as a key priority project which will contribute in strengthening India’s position in global trade, enhance logistics efficiency, and reduce reliance on foreign ports for cargo transshipment. Its natural deep draft of nearly 20 meters and location near one of the world’s busiest sea trade routes further strengthens India’s position in global trade.

    PM in Andhra Pradesh

    Prime Minister will inaugurate, lay the foundation stone and dedicate to the nation multiple development projects worth over Rs 58,000 crore in Amaravati.

    In line with his commitment to ensure world-class infrastructure and connectivity across the country, Prime Minister will inaugurate 7 National Highway projects in Andhra Pradesh. These Projects include widening of various sections of National Highways, construction of Road over bridge and subway among others. These projects will further enhance road safety; create employment opportunities; provide seamless connectivity to religious and tourist places like Tirupati, Srikalahasti, Malakonda and Udayagiri Fort among others.

    Prime Minister will also dedicate to the nation railway projects aimed at enhancing connectivity and boosting capacity. These projects are doubling of the rail line between Bugganapalle Cement Nagar and Panyam stations, enhancing connectivity between Rayalaseema and Amaravati and construction of a third rail line between New West Block Hut Cabin and Vijayawada stations.

    Prime Minister will also lay the foundation stone of 6 National Highway projects and one Railway project. These Projects include widening of various sections of National highways; construction of elevated corridor,  half clover leaf and Road over bridge among others. These projects will improve connectivity, inter-state travel, reduce congestion and improve overall logistics efficiency. Construction of Rail over Rail between Guntakal West and Mallappa gate stations aims to bypass freight trains and reduce congestion at the Guntakal Junction.

    Prime Minister will lay the foundation stone for multiple infrastructure projects that include the Legislative Assembly, High Court, Secretariat, other administrative buildings and housing buildings for over 5,200 families, worth over Rs 11,240 crore. It will also include trunk infrastructure and flood mitigation projects featuring a 320 km world-class transport network with underground utilities and advanced flood management systems, worth over Rs 17,400 crore. The Land Pooling Scheme Infrastructure projects will cover 1,281 km of roads equipped with central medians, cycle tracks, and integrated utilities across the capital city of Amaravati, worth over Rs 20,400 crore.

    Prime Minister will also lay the foundation stone of Missile Test Range at Nagayalanka in Andhra Pradesh worth around Rs 1,460 Crore.  It will comprise a launch center, technical instrumentation facilities, Indigenous Radars, Telemetry and Electro-Optical systems enhancing the country’s defence preparedness.

    Prime Minister will lay the foundation stone of PM Ekta Mall at Madhurawada in Visakhapatnam. It has been envisioned with the objective of fostering national integration, supporting the Make in India initiative, promoting One District One Product, generating employment opportunities, empowering rural artisans, and enhancing the market presence of indigenous products.

    ***

     

    MJPS/SR

    (Release ID: 2125406) Visitor Counter : 96

    MIL OSI Asia Pacific News

  • MIL-OSI: GPTBots Integrates Alibaba’s Qwen3 Model to Continuously Deliver Cutting-Edge AI for Enterprises

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, April 30, 2025 (GLOBE NEWSWIRE) — GPTBots, a leading enterprise-grade AI platform, is excited to announce the integration of Alibaba’s Qwen3 model family, marking a significant step forward in delivering state-of-the-art AI solutions tailored for enterprise needs. This integration enhances GPTBots’ ability to provide businesses with unparalleled performance, multilingual capabilities, and advanced reasoning, further solidifying its position as a leader in AI-powered enterprise transformation.

    Enhancing Multilingual Capabilities and Hybrid Reasoning to Drive Business Innovation
    The integration of Qwen3 into GPTBots brings a host of advanced capabilities that are perfectly aligned with the demands of modern enterprises:

    • Hybrid Reasoning for Complex and Routine Tasks
      Qwen3’s hybrid reasoning functionality allows GPTBots to handle a wide range of tasks with precision and efficiency. The “thinking” mode is ideal for solving intricate problems, while the “non-thinking” mode delivers rapid responses for routine inquiries, ensuring businesses can optimize both speed and accuracy.
    • Enhanced Multilingual Support
      With support for 119 languages and dialects, Qwen3 significantly strengthens GPTBots’ ability to serve global enterprises. This ensures seamless communication and localization, empowering businesses to engage with diverse audiences and markets effectively.
    • Flagship Model Breakthrough: The All-in-One Task Expert
      Powered by the Qwen-3-235B flagship model and the Qwen-3-30B lightweight version, GPTBots’ integration of the Qwen 3.0 matrix delivers industry-leading performance in code generation, mathematical reasoning, and instruction execution.
          • Qwen-3-235B: With exceptional computational power, it excels in complex logical reasoning and multimodal content generation, making it ideal for heavy-duty tasks such as enterprise-level data analysis and strategic decision-making.
         • Qwen-3-30B: Optimized for private deployment, this lightweight model is designed for efficient resource utilization in localized servers and private cloud environments. Tailored for industries like finance, government, and manufacturing, it ensures data sovereignty and compliance while allowing parameter fine-tuning to adapt to specific business workflows. This ensures system stability and flexible AI deployment.
    • Seamless Integration with Enterprise Systems
      GPTBots leverages Qwen3’s capabilities to seamlessly integrate with ERP, CRM, CMS, and other enterprise systems. This ensures businesses can break down data silos, streamline workflows, and achieve real-time insights into customer behavior, market trends, and operational performance.

    Streamlining SOPs to Redefine Enterprise Operations
    The integration of Qwen3 aligns seamlessly with GPTBots’ mission to “Reimagine Enterprise Efficiency with AI.” By combining advanced technology with scenario adaptability, GPTBots delivers three core value enhancements:

    • Automated SOPs: Unlocking Workforce Potential
      GPTBots’ AI agents enable 24/7 automation for SOP-driven tasks like customer support, data entry, and report generation, significantly boosting efficiency and cutting labor costs. Supporting 90+ languages, the platform handles high-frequency queries such as order tracking, logistics updates, and return policies with over 90% automation accuracy, reducing customer service costs by 70%. Additionally, real-time integration with ERP and CRM systems automates multi-dimensional reporting, minimizing errors and enabling employees to focus on strategic and creative tasks.
    • Global, Round-the-Clock Service: Reaching Diverse Audiences
      With robust multilingual capabilities, GPTBots ensures “native-level” service experiences across 119 languages and dialects, facilitating seamless cross-cultural communication. From English support in North America to Spanish after-sales in Latin America, the platform adapts to local languages and cultural nuances, enhancing customer satisfaction and boosting repurchase rates.
    • Data-Driven Decision Making: Real-Time Insights
      Powered by Qwen3’s advanced reasoning capabilities, GPTBots provides real-time, actionable insights by analyzing operational data. It identifies potential best-sellers from sales data, uncovers customer pain points for personalized recommendations, and monitors market trends to inform proactive strategies. Seamless integration with ERP, CRM, and BI systems ensures real-time data updates, improving decision-making efficiency by 50%.

    Aurora Mobile Founder, Chris Lo, stated, “The integration of Qwen3 marks a significant upgrade in our technological capabilities. By addressing operational pain points in standardized processes, we aim to deliver ‘cost reduction without compromise, efficiency with intelligence.’ Moving forward, we will continue to integrate cutting-edge technologies to empower our clients in building sustainable competitive advantages during their digital transformation journey.”

    About GPTBots.ai
    GPTBots.ai is an enterprise AI agent platform that empowers businesses to streamline operations, enhance customer experiences, and drive growth. Offering end-to-end AI solutions across customer service, knowledge search, data analysis, and lead generation, GPTBots enables enterprises to harness the full potential of AI with ease. With seamless integration into various systems, and support for scalable, secure deployments, GPTBots is dedicated to reducing costs, accelerating growth, and helping businesses thrive in the AI era.

    For more information, visit www.gptbots.ai.

    Media Contact:
    Silvia
    Senior Marketing Manager
    marketing@gptbots.ai

    The MIL Network

  • MIL-OSI: Aurora Mobile’s GPTBots.ai Integrates Alibaba’s Qwen3 Model to Continuously Deliver Cutting-Edge AI for Enterprises

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, April 30, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, today announced the integration of Alibaba’s Qwen3 model family into its leading enterprise-grade AI platform GPTBots.ai, marking a significant step forward in delivering state-of-the-art AI solutions tailored for enterprise needs. The integration enhances GPTBots.ai’s ability to provide businesses with unparalleled performance, multilingual capabilities, and advanced reasoning, further solidifying its position as a leader in AI-powered enterprise transformation.

    Enhancing Multilingual Capabilities and Hybrid Reasoning to Drive Business Innovation

    The integration of Qwen3 into GPTBots.ai brings a host of advanced capabilities that are perfectly aligned with the demands of modern enterprises:

    • Hybrid Reasoning for Complex and Routine Tasks
      Qwen3’s hybrid reasoning functionality empowers GPTBots.ai to handle a wide range of tasks with precision and efficiency. The “thinking” mode excels at solving intricate problems, while the “non-thinking” mode delivers rapid responses for routine inquiries, ensuring businesses can optimize both speed and accuracy.
    • Enhanced Multilingual Support
      With support for 119 languages and dialects, Qwen3 significantly strengthens GPTBots.ai’s ability to serve global enterprises. This ensures seamless communication and localization, empowering businesses to engage with diverse audiences and markets effectively.
    • Flagship Model Breakthrough: The All-in-One Task Expert
      Powered by the flagship Qwen-3-235B model and the Qwen-3-30B lightweight version, GPTBots.ai’s integration of the Qwen 3.0 matrix delivers industry-leading performance in code generation, mathematical reasoning, and instruction execution.
    • Qwen-3-235B: With exceptional computational power, it excels at complex logical reasoning and multimodal content generation, making it ideal for heavy-duty tasks such as enterprise-level data analysis and strategic decision-making.
    • Qwen-3-30B: Optimized for private deployment, this lightweight model is designed for efficient resource utilization in localized servers and private cloud environments. Tailored for industries like finance, government, and manufacturing, it ensures data sovereignty and compliance while allowing parameter fine-tuning to adapt to specific business workflows. This ensures system stability and flexible AI deployment.
    • Seamless Integration with Enterprise Systems
      GPTBots.ai leverages Qwen3’s capabilities to seamlessly integrate with ERP, CRM, CMS, and other enterprise systems. This ensures businesses can break down data silos, streamline workflows, and achieve real-time insights into customer behavior, market trends, and operational performance.

    Streamlining SOPs to Redefine Enterprise Operations

    The integration of Qwen3 aligns seamlessly with GPTBots.ai’s mission to “Reimagine Enterprise Efficiency with AI.” By combining advanced technology with scenario adaptability, GPTBots.ai delivers three core value enhancements:

    ● Automated SOPs: Unlocking Workforce Potential
    GPTBots.ai’s AI agents enable 24/7 automation for SOP-driven tasks like customer support, data entry, and report generation, significantly boosting efficiency and cutting labor costs. Supporting 90+ languages, the platform handles high-frequency queries such as order tracking, logistics updates, and return policies with over 90% automation accuracy, reducing customer service costs by 70%. Additionally, real-time integration with ERP and CRM systems automates multi-dimensional reporting, minimizing errors and enabling employees to focus on strategic and creative tasks.

    ● Global, Round-the-Clock Service: Reaching Diverse Audiences
    With robust multilingual capabilities, GPTBots.ai ensures “native-level” service experiences across 119 languages and dialects, facilitating seamless cross-cultural communication. From English support in North America to Spanish after-sales in Latin America, the platform adapts to local languages and cultural nuances, enhancing customer satisfaction and boosting repurchase rates.

    ● Data-Driven Decision Making: Real-Time Insights
    Powered by Qwen3’s advanced reasoning capabilities, GPTBots.ai provides real-time, actionable insights by analyzing operational data. It identifies potential best-sellers from sales data, uncovers customer pain points for personalized recommendations, and monitors market trends to inform proactive strategies. Seamless integration with ERP, CRM, and BI systems ensures real-time data updates, improving decision-making efficiency by 50%.

    GPTBots.ai Founder, Chris Lo, stated, “The integration of Qwen3 marks a significant upgrade in our technological capabilities. By tackling operational pain points in standardized processes, we aim to deliver cost reduction without compromise and efficiency powered by intelligence. Moving forward, we will continue to integrate cutting-edge technologies that empower our clients to build sustainable competitive advantages throughout their digital transformation journey.”

    About GPTBots.ai

    GPTBots.ai is a complementary general-purpose LLM AI bot featuring private data input and continuous fine-tuning, which can replace ‘rule-based’ chatbots, improve user experience, and reduce costs. GPTBots.ai aims to provide users with an end-to-end business platform that can seamlessly integrate robots into existing applications and workflows via plug-ins. GPTBots.ai also allow users to have great access to, and more efficiently and effectively using, AIGC to improve overall corporate productivity and output quality.

    To know more, please visit https://www.gptbots.ai.

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    For more information, please contact:

    Aurora Mobile Limited 
    E-mail: ir@jiguang.cn

    Christensen

    In China
    Ms. Xiaoyan Su
    Phone: +86-10-5900-1548
    E-mail: Xiaoyan.Su@christensencomms.com

    In U.S.
    Ms. Linda Bergkamp
    Phone: +1-480-614-3004
    Email: linda.bergkamp@christensencomms.com

    The MIL Network

  • MIL-OSI Economics: New Development Bank President Dilma Rousseff met Chinese President Xi Jinping in Shanghai

    Source: New Development Bank

    On April 29, 2025, H.E. Xi Jinping, President of the People’s Republic of China, visited the New Development Bank (NDB) Headquarters in Shanghai.

    President Xi Jinping was warmly welcomed by H.E. Mrs. Dilma Rousseff, NDB President, four Vice-Presidents of the Bank and its staff.

    President Xi Jinping congratulated Mrs. Dilma Rousseff on her re-election as President of NDB and noted that the Bank is the world’s first multilateral development institution established and led by emerging markets and developing countries.

    In his remarks, President Xi Jinping called the Bank “a pioneering initiative for the unity and self-improvement of the Global South,” and said that it conforms to the historical trend of reforming and improving global governance. During the meeting, President Xi Jinping said that the NDB “is the first multilateral development institution initiated and led by emerging markets and developing countries, and that it has grown over the past decade into an emerging force in the international financial system and a symbol of South-South cooperation.” He added that, “as BRICS cooperation enters a phase of high-quality development, NDB is ready to embark on its second golden decade.”

    President Xi Jinping called on NDB to always consider the development needs of the Global South, and to provide more high-quality, low-cost and sustainable infrastructure financing.

    The Bank needs to improve its management and operations, implement more technology and green finance projects, and help developing countries bridge the digital divide and accelerate green and low-carbon transformation, said President Xi Jinping.

    In discussions on the reform of international financial architecture, NDB should amplify the voice of the Global South, safeguard the legitimate rights and interests of the Global South, and support the countries of the Global South in their pursuit of modernization.

    President Xi Jinping noted that as the Bank’s host country, China will always support the operations and development of the New Development Bank. China is willing to strengthen project cooperation with the Bank and focus on green, innovative and sustainable development to achieve more results, he added.

    China is also willing to share its development experience through the NDB with other member countries and stands ready to provide more international public goods, said President Xi Jinping.

    In her remarks, President Dilma Rousseff expressed her gratitude to China for its enduring strong support for the NDB.

    NDB President noted the remarkable development achievements under the leadership of President Xi Jinping, highlighting China’s important role in enhancing global governance. She also emphasized that, in a world marked by turbulence, the Chinese Government protects the interests of the Global South, supports multilateralism, and upholds international fairness and justice, setting an example for the international community. She also commended China’s open approach to technology cooperation, offering important opportunities for the Global South.

    President Dilma Rousseff emphasized that the NDB remains strongly committed to its guiding principles and mandate, consistently contributing to sustainable development of all member countries.

    NDB President stated that the Bank has already approved more than 120 investment projects, totaling USD 40 billion, focused on logistic and digital infrastructure as well as  social infrastructure, such as water supply and sanitation, investments in education, health, and housing — “crucial for improving the quality of people’s lives”. She stressed that NDB is committed to action against climate change, support energy transition, prevention and mitigation of natural disasters. Another goal is to transform NDB in a truly 21st century bank by adopting the newest AI, and Big Data technology.

    Strengthening the use of local currency has became a distinguishing feature of NDB. Currently, 31% of the financing projects are carried out in member countries’ currencies.

    In this sense, NDB President also mentioned that the Bank is the largest issuer of Panda Bonds — the name given to Chinese currency-denominated bonds issued by non-Chinese institutions — which have already totaled 68.5 billion yuan. “We are expanding this strategy to other local capital markets, supporting our partners in reducing currency mismatch risks, strengthening their local capital markets, and utilizing currency swaps,” said NDB President.

    MIL OSI Economics

  • MIL-OSI United Kingdom: Manchester launches annual State of the City Report

    Source: City of Manchester

    The latest State of the City report, detailing Manchester’s progress in delivering its 10-year strategy, comes at a pivotal moment.

    It is published as the current 2015-25 Our Manchester Strategy period concludes, and the city prepares to launch its new strategy for the next decade. 

    The annual State of the City report provides a snapshot of how the city has progressed and where deep-rooted challenges are being addressed. 

    Bev Craig, Leader of Manchester City Council, said: “This is a significant year for Manchester as we prepare to launch the new Our Manchester Strategy which will guide the city for the next decade, and reflect on the progress we have collectively made in the last 10 years. 

    “Our annual State of the City report enables us to chart that progress as well as the challenges that still remain. 

    “The report demonstrates Manchester’s dynamism as we continue to see strong population and economic growth and begin to see the impact of a raft of initiatives to tackle inequalities and ensure that everyone is included in the city’s success. That includes overseeing the building of more council, social and genuinely affordable homes than at any time in the last 15 years.  

    “We’re also investing in improving neighbourhoods across the city. Progress is being made. But while Manchester is now firmly established among leading European cities, and is one of the fastest growing, we are focused on taking that success to the next level – and taking all Mancunians with us.”  

    The State of the City report assesses progress against the 2015-25 Our Manchester Strategy’s five key themes: 

    A Thriving and Sustainable City  

    In 2024, Manchester’s population continued to grow, driven primarily by international migration and a rise in student numbers. This growth has had a positive impact on the city’s overall development, particularly in the city centre, which remains a central hub for economic growth, benefiting both Manchester itself and the wider region. 

    The demand for office space in Manchester remains robust, with 2024 expected to see record levels of leasing activity for office spaces, marking a significant milestone in the post-pandemic recovery. Additionally, the Oxford Road corridor continues to attract large-scale investments, such as the launch of City Labs 4.0 and new office and research opportunities on Upper Brook Street, alongside the approval of a strategic regeneration framework for Sister – a new innovation district and global science hub. 

    Manchester’s cultural, tourism, and leisure sectors have also seen a surge in visitor numbers throughout 2024. Aviva Studios and Co-op Live have quickly become key venues, drawing in crowds for major music and cultural events. At the same time, investment in the city’s district centres, supported by Government funding secured by the Council has led to noticeable progress, particularly in areas like Wythenshawe, Gorton, Moston and Withington with impetus to expand this to high streets across the city.  

    A Highly Skilled City 

    As Manchester’s population continues to grow, the city’s workforce has also expanded, with 426,000 people in employment.  Most schools in the city are now rated as good or outstanding. Additionally, more young people are pursuing post-16 education, with an increase in capacity at various colleges and schools, although this remains an ongoing challenge. 

    Manchester continues to attract and retain a large number of graduates, which contributes to the city’s thriving workforce. Economic growth has been fueled by the rise of highly skilled jobs in industries such as digital technology, biotechnology, and advanced materials.  

    However, there are still significant levels of economic inactivity, particularly due to poor health. To address this, a variety of programs have been introduced to help individuals access employment opportunities and improve their skills. 

    Targeted initiatives have focused on specific sectors and employers, with local job fairs and customised support programs being backed by various funding schemes. As part of the city’s efforts to achieve UNICEF Child Friendly City status, partnerships between schools and employers have been established.  

    Furthermore, Manchester has earned the designation of a UNESCO City of Lifelong Learning, a step forward in supporting adult education and lifelong learning. In addition to these efforts, significant programs are underway to create green jobs, aligning with the growing demand for sustainable employment in the economy. 

    A Progressive and Equitable City 

    Making Manchester Fairer is the city’s five-year action plan aimed at tackling health inequalities across Manchester. In 2024, key milestones included the delivery of one million meals through the Manchester Food Board Partnership and the continued support of local initiatives via the In Our Nature project, which is designed to help communities across the city. 

    The ongoing cost-of-living crisis has left 100,000 households with less than £30 per month in disposable income. To support these households, Manchester has provided a range of services, including free school meals, digital inclusion initiatives, a dedicated advice line, and direct financial support through a household support fund. 

    Homelessness remains a significant challenge, with a high number of people presenting as homeless each year. However, there has been progress, with the use of B&B accommodation for families all but eradicated, a decrease in rough sleeping, and fewer individuals in temporary accommodation.  

    Alongside this, a new Children and Young People’s Plan for 2024-2027 has been developed, informed by the voices of children and young people. This plan emphasises prevention and early intervention, aiming to help young people stay safe and thrive within their communities. 

    As part of the UNICEF Child Friendly City program, 11,000 children shared their views, and in January 2024, key priorities were established, including ensuring children are safe and secure, have a sense of place, and lead healthy lives. In addition, the city continues to prioritise addressing health inequalities through a variety of public health measures, which remain central to the “Making Manchester Fairer” initiative. 

     A Liveable and Zero Carbon City 

    The Housing Strategy 2022-2032 sets an ambitious target of constructing 36,000 homes, with at least 10,000 of those being affordable.  

    In its first two years, significant progress has already been made. Last year 600 affordable homes were completed with a further 1,500 on site and a further 1,450 in the pipeline – meaning Manchester is on track to meet this target.  

    To further support housing development, Strategic Regeneration Frameworks have been introduced in key areas across the city, including Victoria North, Grey Mare Lane, Strangeways, and Holt Town, which will see large numbers of new homes including affordable homes built. Additionally, a retrofit programme is in place, aiming to improve the energy efficiency of a third of the homes managed by the Manchester Housing Providers Partnership by 2032. 

    Manchester has made progress in reducing its carbon emissions, with a 5% decrease in 2022 (the latest data available). However, more work is needed to meet long-term sustainability targets. To accelerate efforts, a new framework for the period of 2025-2030 is currently under development. 

    Safety remains a top priority for residents, and the Manchester Community Safety Partnership has rolled out several key initiatives to address the city’s main concerns. 

    Meanwhile, Manchester’s parks and green spaces have seen a significant increase in activity, with a 7% rise in the number of events and activities hosted in 2024. 

    The launch of Always, Everywhere: the Manchester Culture Ambition in 2024 followed extensive consultation and marked a significant step forward for the city’s cultural development. The English National Opera (ENO) also announced its move to Manchester, and the completion of HOME Arches provides a new creative workspace for the city’s artists and innovators. 

    In the sporting realm, Manchester hosted 24 major sporting events in 2024, further solidifying its reputation as a sporting hub. Additionally, the city was named the first European Capital of Cycling, showcasing its commitment to sustainable transport and active living. 

    A Connected City 

    In collaboration with Transport for Greater Manchester (TfGM), significant road improvements are currently underway on Whitworth Street West and Deansgate. These upgrades are part of the city’s broader efforts to enhance its infrastructure and transportation network. 

    Manchester has also developed an ambitious plan to expand Electric Vehicle charging across the city, supporting the transition to greener transportation options. This initiative is a key part of the city’s strategy to promote sustainability and reduce carbon emissions. 

    The Bee Network, an integrated public transport system for Greater Manchester, continues to grow and improve. All remaining buses in the city were franchised and brought under local control, further streamlining the public transport experience for residents. 

    Additionally, 14 active travel schemes focused on walking and cycling are either underway or in the planning stages. These initiatives aim to promote healthier, more sustainable travel options, making it easier for residents to choose active modes of transport. 

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Fraud Bill to save £1.5 billion progresses to the Lords

    Source: United Kingdom – Executive Government & Departments 2

    Press release

    Fraud Bill to save £1.5 billion progresses to the Lords

    Plans to recover stolen cash and impose driving bans on those who repeatedly fail to pay back taxpayer money moved a step closer today, as Ministers vowed “to address the unacceptable levels of fraud and error we’ve inherited”

    • The Public Authorities (Fraud, Error, and Recovery) Bill, set to save £1.5 billion over the next five years, progresses to the Lords 

    • The Bill follows the biggest welfare fraud and error budget package in recent history 

    • Changes could help boost investment in public services and protect the public purse, as part of the Plan for Change

    New souped-up powers from the Department of Work and Pensions (DWP), which will allow DWP to recover money directly from the bank accounts of fraudsters who can repay but are wilfully gaming the system in order not to, passed an important stage in the House of Commons as it had its Third Reading.  

    The Public Authorities (Fraud, Error, and Recovery) Bill, which could put these measures into law, will help DWP to catch fraudsters, prevent overpayments and protect taxpayer’s money.   

    The Bill will save the taxpayer £1.5 billion over the next five years and is part of wider plans set out in the Autumn budget and Spring Statement to save £9.6 billion by 2030. This means taxpayer’s money can be invested in public services as part of the government’s Plan for Change.    

    Minister for Transformation, Andrew Western said:    

    Enhancing our powers is essential to fulfilling our commitment to the public, as they will enable us to address the unacceptable levels of fraud and error we’ve inherited and better protect public funds.

    By strengthening our ability to catch criminals and prevent overpayments, we can keep up with the evolving nature of welfare fraud while reducing the risk of people falling further into debt, ensuring that more resources are directed towards improving the lives of people across the country. 

    The new legislation comes as the government is dealing with the broken welfare system it inherited, with out-of-control levels of fraud and error costing the taxpayer around £10 billion a year – with a total of £35 billion of taxpayers’ money incorrectly paid to those not entitled to the money since the pandemic.     

    The Bill will also give powers to the DWP to get data from banks and other financial institutions to help verify the eligibility of those who receive certain benefits to make sure they are getting the correct payments – this will help to stop people falling further into debt because of incorrect payments and help the DWP spot fraudulent claims.  

    No personal information will be shared by DWP to support financial institutions in the identification of these accounts, and DWP will not have access to people’s bank accounts in verifying eligibility and will not be able to see where people are spending their money.    

    Protections are central to the Bill, making sure there is proportionate and effective use of the powers, and that DWP is protecting vulnerable customers. For example, people will only be disqualified from driving as a last resort when they don’t rely on their car for work or for caring responsibilities and where they continually avoid repayment. Staff will be trained to the highest standards on the appropriate use of new powers, and we will introduce new oversight and reporting mechanisms.  

    On top of the Bill measures, the Chancellor announced in the Spring Statement a further commitment to recruit over 500 additional DWP fraud and error staff who will make better use of government data to correct errors in benefit claims, as well as increasing checks on potential Universal Credit claimants by introducing more ways to verify the amount of savings they hold, as well as their earnings and expenses. 

    The Cabinet Office’s Public Sector Fraud Authority will also be given more powers under the legislation, allowing the department’s investigators to detect and recover fraud in other departments and bodies across the public sector.  

    Minister in the Cabinet Office, Georgia Gould said:    

    This Bill will save taxpayers’ money. People are currently getting away with stealing vast sums of cash because our investigators don’t have the powers they need to detect and recover fraud across the public sector.

    We’re giving our investigators new powers to tackle fraud wherever they find it – as well as doubling the time available to bring pandemic fraudsters to justice.

    An additional new measure will see the time limit for civil claims against Covid fraud doubled from six to twelve years. This step change in the ability to fight fraud committed during the pandemic will give the Covid Corruption Commissioner and the Public Sector Fraud Authority more time to investigate complex cases and apply their new powers retrospectively – including the ability to raid properties and retrieve money from Covid fraudsters’ bank accounts.    

    The Bill measures will now progress to the House of Lords to be debated further.

    Additional Information

    • The Fraud, Error and Recovery Bill forms part of wider government plans to save a total of £8.6bn over 5 years in the biggest welfare fraud and error budget package in recent history.
    • Since the pandemic, a total of £35 billion of taxpayers’ money has been incorrectly paid to those not entitled to DWP benefits.

    Updates to this page

    Published 30 April 2025

    MIL OSI United Kingdom

  • MIL-OSI: Cheems Memecoin Defies Global Economic Turmoil with Astonishing 3,541% Year-Over-Year Surge

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 30, 2025 (GLOBE NEWSWIRE) — In a stunning turn of events amid global financial uncertainty, Cheems ($CHEEMS), a lighthearted memecoin inspired by the iconic Shiba Inu character, has skyrocketed by 3,541% over the past year with its market cap eclipsing $300 million. This explosive growth defies broader market trends that have been shaken by increasing stock market volatility and rising geopolitical tensions impacting global trade.

    Cheems’ performance over the past 12 months has not only surprised investors but has also cemented its position as a leading force in the memecoin arena. With more than 85,000 holders, over 1.8 million on-chain transfers, and an average daily trading volume exceeding $8 million on major exchanges including Binance, Cheems is proving that internet culture and decentralized finance (DeFi) can form a powerful and resilient combination.

    Analysts attribute this extraordinary rise to Cheems’ active and humorous online presence, strong community engagement, and its ability to stay relevant in an ever-shifting market. The token’s smart contract security, transparency, and loyal community have turned it from a meme into a movement. Its unique blend of humor and purpose is resonating with a new generation of crypto investors who value both entertainment and innovation.

    Christian, core developer of Cheems and founder of Infini, shared his thoughts on the achievement:

    “Cheems isn’t just riding the memecoin wave—it’s shaping it. Hitting $8 million in daily trading volume on Binance signals that our community and the broader market recognize the real potential behind this movement. As we continue building, we are committed to maintaining this momentum and ensuring long-term growth for our holders.”

    Cheems’ momentum has also been fueled by its increasing presence in pop culture and the broader crypto narrative. With viral memes, influencer endorsements, and trending hashtags, Cheems has managed to stay top-of-mind in an industry that often moves at lightning speed. The project’s creative marketing campaigns and grassroots support have helped it reach audiences far beyond traditional crypto circles, attracting casual users, NFT collectors, and even institutional traders curious about the power of meme economics.

    Looking ahead, the Cheems development team has hinted at exciting road map milestones, including a play-to-earn game, a cross-chain bridge to expand utility beyond BNB Chain, and a charitable initiative to support animal welfare causes worldwide. As the token matures, Cheems aims to balance its playful brand with long-term value creation, showing that memecoins can evolve into purpose-driven platforms while retaining the fun that made them famous.

    About Cheems

    Cheems is a community-first memecoin built on the BNB Chain, known for its playful roots and strong digital culture presence. Launched to embody the spirit of internet humor, Cheems has quickly evolved into a serious contender in the meme asset space. Its mission is to create value through fun, transparency, and utility while bringing the crypto world closer to everyday internet users.

    Media Contact:
    Cheems Foundation
    contact@cheems.pet

    Join the Cheems Community:
    Twitter: @lordcheems_bsc
    Telegram: t.me/LordCheems_Bsc
    Website: https://cheems.pet

    Disclaimer: This press release is provided by Cheems Foundation. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    The MIL Network

  • MIL-OSI United Kingdom: RSH publishes regulatory judgements for 18 social landlords

    Source: United Kingdom – Executive Government & Departments

    Press release

    RSH publishes regulatory judgements for 18 social landlords

    The Regulator of Social Housing (RSH) has today published a range of judgements following inspections of social landlords and ongoing responsive work.

    RSH has found serious issues with three councils, which have each failed to meet the outcomes in the consumer standards.

    The London Borough of Tower Hamlets:

    • Does not have an accurate understanding of tenants’ homes, with only 47% of individual property surveys carried out within the last five years
    • Has thousands of homes that do not meet the Decent Homes Standard (23% of around 11,000 total homes).
    • Has around 2,500 overdue fire safety actions, 1,400 overdue communal electrical safety actions and 750 overdue water safety actions.

    Reading Borough Council:

    • Failed to provide an effective and timely repairs service, with around 1,600 overdue repairs at the time of the inspection.
    • Only surveyed half of its tenants’ homes over the past five years.
    • Failed to provide meaningful opportunities for tenants to scrutinise its performance, and did not give all tenants access to a fair and effective complaints process.

    Winchester City Council:

    • Does not have up-to-date information about the majority of tenants’ homes, with its last stock condition survey completed more than 10 years ago.
    • Is unable to provide assurance that it is completing required health and safety checks for all homes and communal areas – including those for fire, electrical and water safety.
    • Has not been able to demonstrate that it provides all tenants with accessible information.

    Each council has been given a C3 grade and they must make significant improvements. RSH will continue to engage intensively with them as they deliver their improvement plans and put things right for tenants.  

    Following a self-referral, RSH found that Mid Devon District Council had overcharged rent for over 1,200 tenants, and undercharged over 1,600. As a result it has failed to meet the outcomes of the rent standard. The council is continuing to investigate these issues and has advised RSH that it will confirm the refunds due to individual tenants.  

    RSH also continues its important work in checking that housing associations are well run and financially viable. This is reflected in judgements which reinforce the importance of good governance in managing strategic risks.    

    RSH found weaknesses in how the Community Housing Group and Richmond Housing Partnership are managing their strategic risks. Each landlord needs to improve their internal controls assurance so that consistent improvement is seen in outcomes for tenants. RSH has downgraded both landlords to a G2 grading for governance as a result.

    RSH expects all housing associations and other private registered providers to have G1 governance grades. RSH continues to drive improvements in social landlords, with Islington and Shoreditch Housing Association and Watmos Community Housing upgraded to G1 following improvements in their governance.

    Kate Dodsworth, Chief of Regulatory Engagement at RSH, said:

    “We continue to take action on a wide range of issues when landlords fail to meet our standards.  

    “Our judgements show the importance of good governance in driving improvements for tenants and ensuring landlords are on top of their strategic risks. A clear theme is the need for accurate, up-to-date information about key risks – whether they are financial or relate to tenants’ health and safety.

    “Through our regulation we will continue to support a sector that is well run and financially viable. This is the foundation for providing good-quality homes for tenants and building new homes for the future.”

    RSH has also removed a previous regulatory notice for the London Borough of Croydon as the landlord has delivered the required improvements.

    RSH has published 18 regulatory judgements in total today, following planned inspections and responsive engagement. The full details are provided in the table below along with links to each of the judgements.

    Notes to editors

    Social landlord Consumer grade Governance grade Viability grade Process
    Brentwood Borough Council C2 Inspection
    Broadland Housing Association Limited C2 G1 V2 Inspection
    Gateshead Metropolitan Borough Council C2 Inspection
    Hastoe Housing Association Limited C2 G1 V2 (regrade from V1) Inspection
    Islington and Shoreditch Housing Association Limited G1 (upgrade from G2) V2 (based on previous assessment) Responsive engagement
    London Borough of Tower Hamlets C3 Inspection
    London Borough of Waltham Forest C2 Inspection
    Mid Devon District Council Responsive engagement (rent standard)
    Poplar Housing and Regeneration Community Association Limited C1 G1 V2 Inspection
    Raven Housing Trust Limited C1 G1 V2 Inspection
    Reading Borough Council C3 Inspection
    Richmond Housing Partnership Limited   G2 (downgrade from G1) V1 Responsive engagement
    South Liverpool Homes Limited C1 G1 V1 Inspection
    St Mungo Community Housing Association C2 G2 V2 Inspection
    Teign Housing C2 G1 V2 Inspection
    The Community Housing Group C2 G2 (downgrade from G1) V2 Inspection
    Watmos Community Homes C1 G1 (upgrade from G2) V2 Inspection
    Winchester City Council C3 Responsive engagement
    1. RSH regulates housing associations and other private registered providers against its full set of standards. Councils are regulated against the consumer and rent standards only.
    2. More information about RSH’s responsive engagement, programmed inspections and consumer gradings is also available on its website.
    3. RSH promotes a viable, efficient and well-governed social housing sector able to deliver more and better social homes. It does this by setting standards and carrying out robust regulation focusing on driving improvement in social landlords, including local authorities, and ensuring that housing associations are well-governed, financially viable and offer value for money. It takes appropriate action if the outcomes of the standards are not being delivered.
    4. For general enquiries email enquiries@rsh.gov.uk. For media enquiries please see our Media Enquiries page.

    Updates to this page

    Published 30 April 2025

    MIL OSI United Kingdom

  • MIL-OSI Russia: SPbPU at the exhibition in Tashkent: how to choose the profession of the future and enter a leading technical university

    Translation. Region: Russian Federal

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

    The 27th international exhibition “Education and Profession 2025” was held in Uzbekistan. The largest international educational event of the republic was organized by the Agency for Youth Affairs, the Ministry of Preschool and School Education of Uzbekistan and the company “My Fair” with the support of Rossotrudnichestvo and the National Bank of Uzbekistan. The event, which covered 12 cities of the country, brought together a record 100 universities from 15 countries for Central Asia. Our university was also represented at the exhibition.

    The Education and Profession 2025 exhibition is a unique opportunity for applicants, students and young professionals to take a look into the future of their careers. Here you can learn about the requirements for admission to universities and colleges, scholarships and grants that make education more accessible, as well as about the professions that will determine the labor market in a few years – from IT development and bioengineering to sustainable development and digital art. Experts from leading universities reveal right at the exhibition which skills are critically important today. For example, the ability to work with data, adapt to change, manage a team or solve interdisciplinary problems.

    Deputy Head of the Agency for Youth Affairs Dilnozahon Kattakhanova emphasized the significance of the event: More than 100 universities are more than 100 opportunities for self-realization, discovering potential and choosing a decent education. Young people will be able to contribute to the development of science, technology and all spheres of life in the country.

    Head of Rossotrudnichestvo in Uzbekistan Irina Staroselskaya emphasized the importance of choice: Young people can choose not only a university, but also a country, a direction. The main thing is that education brings pleasure – after all, we spend most of our lives at work. Let the choice be conscious!

    Over the course of two days of the exhibition, the stand of the St. Petersburg Polytechnic University was visited by more than 1,700 high school students from Uzbekistan considering the possibility of studying in Russia. The main audience was senior students who studied in detail the prospects of entering Russian universities.

    Leading Advertising Manager of the SPbPU Center for International Recruitment and Communications Zhanna Trunkova and specialist of the Department for Work with Foreign Students Evgeniya Borodina held individual consultations for the guests. They explained in detail the conditions of enrollment, the range of available educational programs, as well as scholarship and financial support options for foreign students of the university.

    Uzbek schoolchildren received information about scholarships, admission requirements and promising professions. The speakers thanked the partners for their contribution to the organization of the largest educational project in the region.

    International educational exhibitions help not only to obtain information, but also to immerse yourself in a dialogue with universities. Personal consultations, career guidance tests and live communication with representatives allow you to compare your interests with the real demands of the economy. This is a chance to rethink career goals, choose an educational trajectory that corresponds to both personal ambitions and global trends, and also to begin building a professional path without gaps in knowledge, – emphasized the head of the International Education Department of SPbPU Evgeniya Satalkina.

    You can find out more about the admission procedure at Polytechnic University atSPbPU website, and fill out the form inin the applicant’s personal account.

    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.

    MIL OSI Russia News

  • MIL-OSI: UAB„Orkela“ Publishes Audited Financial Statements for the Year, Ended 31 December 2024.

    Source: GlobeNewswire (MIL-OSI)

    UAB „Orkela“ (hereinafter – the Company) publishes audited financial statements for the year. Ended 31 December 2024.

    The main activity of the Company is real estate development and construction. The Company

    owns a land plot and a building complex located on Vasario 16-osios st. 1, Vilnius.

    Key events in 2024

    • During 2024, the Company issued 15,156 units of secured non-convertible bonds, each with a nominal value of EUR 1,000.As of 31 December 2024, the Company issued 38,658 units of secured non-convertible bonds.
    • During 2024, the Company leased 4,333 sq m of administrative space in an object under development located on Vasario16-osios st. 1, Vilnius.

    Key events after the end of the financial year

    • As of 31 December 2024, the bonds were due to be redeemed in January 2025. The Company, having received the approval of the bondholders, extended the term until 19 July 2025.
    • Q I 2025 The Company leased an additional 922 sq m of space, thus increasing the occupancy of the object to 92%.
    • On 10 April 2025, the State Territorial Planning and Construction Inspectorate under the Ministry of Environment approved the completion of the construction of the administrative part of the project.

    The decision of the sole shareholder

    According to the Law on Companies of Republic of Lithuania, the annual financial statements prepared by the management must be approved by the General Shareholders’ meeting. The shareholders of the Company have the right to approve or not to approve the financial statements and to demand the preparation of new annual financial statements.

    On 30 April 2025 the Company’s shareholder made a decision regarding the approval of the Company’s financial statements for the year 2024 and the distribution of profit (loss) as indicated below:

    Article Sum, EUR
    Retained earnings (losses) – at the beginning of the financial year (10,921,587)
    Comprehensive income for the reporting period – net profit (loss) of the reporting year 1 412 324
    Profit transfer to the legal reserve
    Payment of dividends from undistributed profit
    Retained earnings (losses) – at the end of financial year (9 509 263)
    Profit distribution:  
    To be paid out as dividends
    Transfer to the legal reserve
    Retained earnings (losses) for 2024 and prior financial years (9 509 263)

    More information:

    Director of UAB „Orkela“

    Anastasija Pocienė

    Anastasija.Pociene@lordslb.lt

    +370 671 16 232

    Attachment

    The MIL Network

  • MIL-OSI Economics: CBB Governor meets Senior Deputy Governor of Banca d’Italia

    Source: Central Bank of Bahrain

    Published on 30 April 2025

    Manama, Bahrain, 30 April 2025– HE Khalid Humaidan, Governor of the Central Bank of Bahrain, met with Mr. Luigi Federico Signorini, Senior Deputy Governor of Banca d’Italia, as part of the Bahrain’s delegation’s visit to Italy which aims to strengthen economic and trade ties between both countries. HE Mr. Osama Abdullah Al-Absi, Ambassador of the Kingdom of Bahrain to the Italian Republic and other officials were also in attendance.

    During the meeting, HE the Governor emphasized the importance of further development of the financial services sector, through the adaptation and implementation of numerous policies and strategic initiatives in line with the latest innovative financial technologies. HE the Governor also highlighted the importance of sharing views on best practices and experiences with regional and global financial institutions to promote economic development and support sustainable growth.

    The meeting also discussed means of enhancing cooperation in financial services and other topics of mutual interest.

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    MIL OSI Economics

  • MIL-OSI Economics: Official Statement

    Source: Central Bank of Bahrain

    Published on 30 April 2025

    Manama, Bahrain, 30 April 2025– The Central Bank of Bahrain (CBB) reaffirms its ongoing commitment to ensuring the compliance of licensed financial institutions with regulatory requirements and taking the necessary measures in response to any violations, in line with its supervisory mandate.

    With reference to what has been circulating regarding Safaghat W.L.L. (the “company”), licensed by the CBB to provide crowdfunding platform operator services, and following a thorough evaluation using the CBB’s regulatory instruments, the CBB had previously conducted an investigation and taken the following actions based on its findings:
    • Instructing the company to immediately cease providing services to existing clients and to refrain from onboarding new ones.
    • Initiating the necessary regulatory measures with respect to the company.
    • Directing the company to uphold the highest standards of transparency by clearly communicating with customers regarding the status of their current investments.

    The CBB remains committed to working in coordination with the relevant authorities to safeguard the soundness and stability of the financial system.

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    MIL OSI Economics

  • MIL-OSI United Kingdom: European-first semiconductor facility launches in Southampton

    Source: United Kingdom – Executive Government & Departments

    Press release

    European-first semiconductor facility launches in Southampton

    A new facility to build the next generation of semiconductor chips, and the first of its kind in Europe, was opened at the University of Southampton.

    • Science Minister Lord Vallance unveils new electron beam facility for creating incredibly small patterns onto chips to enable breakthroughs in AI and medical tech
    • Comes alongside nearly £5 million in new government support to boost talent pipeline and address skills gap in growing semiconductor industry
    • Support will fund new bursaries, chip design courses and outreach in schools – helping deliver growth as part of our Plan for Change by strengthening our sector and creating high-skilled jobs

    A new facility using cutting edge electron beam technology to build the next generation of semiconductor chips, and the first of its kind in Europe, was opened at the University of Southampton by Science Minister Lord Vallance today (Wednesday 30 April).

    The new E-beam lithography facility is just the second in the world, and first outside Japan, and provides incredible accuracy that is critical to designing the tiny components that power technologies of the future, from medical diagnostics to defence systems.

    Semiconductors – the small chips that power devices from smartphones to satellites – already contribute an estimated £10 billion to our economy each year, with the sector projected to grow to an estimated £17 billion by 2030.

    Strengthening the sector offers a major opportunity to drive the growth at the heart of our Plan for Change, through boosting innovation and jobs. It also supports the UK’s wider Industrial Strategy to grow key advanced manufacturing sectors and secure global competitiveness.

    E-beam lithography uses a focused beam of tiny particles called electrons to create patterns in materials with unrivalled resolution – allowing researchers to create features thousands of times smaller than a human hair.

    Science Minister, Lord Vallance, said:

    Britain is home to some of the most exciting semiconductor research anywhere in the world – and Southampton’s new E-beam facility is a major boost to our national capabilities.

    By investing in both infrastructure and talent, we’re giving our researchers and innovators the support they need to develop next-generation chips right here in the UK.

    Our £4.75 million skills package will support our Plan for Change by helping more young people into high-value semiconductors careers, closing skills gaps and backing growth in this critical sector.

    The Science Minister’s visit to Southampton comes alongside new research being published today, which shows that one of the biggest barriers to achieving growth in the UK’s burgeoning semiconductor industry is a lack of emerging talent. With a single semiconductor worker contributing an average of £460,000 to the economy annually, the sector’s economic potential is huge.

    In response, the government has launched a new £4.75 million semiconductor skills package to help build the talent base needed to fuel this high-growth industry. The package will also help strengthen R&D capacity at leading universities, such as Southampton, which are central to UK semiconductor innovation and talent development. 

    By supporting local talent pipelines and university–industry collaboration, the programme will contribute to both regional and national economic growth, fuelling our Plan for Change, and reinforcing the role the semiconductors industry is set to play in the Industrial Strategy.

    The package includes:

    • £3 million for undergraduate bursaries, offering £5,000 each to 300 students starting Electronics and Electrical Engineering degrees this year, alongside specialist semiconductor content to raise awareness of the field, with a focus on courses that include semiconductor design and manufacturing.
    • £1.2 million for chip design training, with new chip design courses to teach practical chip design skills to undergraduates, postgraduates, and lecturers, as well as a feasibility study for new postgraduate conversion courses.
    • Almost £550,000 for school outreach, giving 7,000 students aged 15–18 and 450 teachers hands-on semiconductor experience in partnership with local employers, helping raise awareness and diversify the future workforce. This programme will be focused on existing UK semiconductor clusters – such as Newport, Cambridge, and Glasgow – helping to strengthen these ecosystems and create long-term career opportunities.

    This targeted skills support will underpin the long-term success of the UK semiconductor sector – helping to attract more students into high-value careers, fill key vacancies and support UK leadership in critical and emerging technologies that will be instrumental to our mission to grow the economy.

    University of Southampton’s Professor Graham Reed, who leads its Optoelectronics Research Centre (ORC), said:

    The introduction of the new E-Beam facility will reinforce our position of hosting the most advanced cleanroom in UK academia.

    It facilitates a vast array of innovative and industrially relevant research, and much needed semiconductor skills training.

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    Updates to this page

    Published 30 April 2025

    MIL OSI United Kingdom

  • MIL-OSI China: China adopts law dedicated to promoting private sector

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

    BEIJING, April 30 — China’s national lawmakers on Wednesday voted to adopt the country’s first fundamental law dedicated to promoting the private sector, underscoring support for a key part of the world’s second-largest economy.

    After over a year of legislative process, the private sector promotion law, passed at a session of the Standing Committee of the National People’s Congress, will take effect on May 20, 2025.

    Comprising 78 articles in nine chapters, the law covers such areas as fair competition, investment and financing promotion, scientific and technological innovation, regulatory guidance, service support, rights and interests protection and legal liabilities.

    The law will further optimize the development environment for the private economy, ensure fair market competition for all types of economic entities, and foster the sound development of both the private sector and its practitioners.

    Private enterprises have long been a key driving force behind China’s economic ascendance, contributing more than 60 percent of GDP and 80 percent of urban employment. By the end of March 2025, the country’s more-than-57-million registered private enterprises made up over 92 percent of all businesses in China.

    MIL OSI China News

  • MIL-OSI: Municipality Finance issues a EUR 100 million tap under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    30 April 2025 at 10:00 am (EEST)

    Municipality Finance issues a EUR 100 million tap under its MTN programme

    On 2 May 2025 Municipality Finance Plc issues a new tranche in an amount of EUR 100 million to an existing benchmark issued on 28 January 2025. With the new tranche, the aggregate nominal amount of the benchmark is EUR 1.350 billion. The maturity date of the benchmark is 14 December 2029. The benchmark bears interest at a fixed rate of 2.625 % per annum.

    The new tranche is issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the new tranche to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 2 May 2025. The existing notes in the series are admitted to trading on the Helsinki Stock Exchange.

    Danske Bank A/S acts as the Dealer for the issue of the new tranche.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland.
    The Group’s balance sheet is over EUR 53 billion.

    MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, corporate entities under their control, and non-profit organisations nominated by the Housing Finance and Development Centre of Finland (ARA). Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.
    .

    MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: https://www.kuntarahoitus.fi/en/

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    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

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