NewzIntel.com

Category: Finance

  • MIL-OSI: TRESU Investment Holding A/S – Settlement of interest payment by issuance of interest bonds

    Source: GlobeNewswire (MIL-OSI)

    TRESU INVESTMENT HOLDING A/S
    ANNOUNCEMENT NO. 02.2025

    24.03.2025

    TRESU Investment Holding A/S – Settlement of interest payment by issuance of interest bonds

    Capitalised terms used but not defined are used with the meanings given to them in the Terms and Conditions (as defined below).

    TRESU Investment Holding A/S gives notice to the holders of its Senior Secured Floating Rate Bonds 2017/2027 with ISIN no. DK0030404967 (the “Bonds”) issued pursuant to the terms and conditions originally dated 22 September 2017 as last amended and restated on 22 December 2023 (the “Terms and Conditions“) that the Interest Payment Test has not been met in respect of the Interest Payment Date on 31 March 2025 and that it will settle the payment of Interest that should have been made on 31 March 2025 by issuance of Interest Bonds in accordance with Clause 8(b) of the Terms and Conditions.

    Any questions can be directed to:

    Torben Børsting
    Chief Financial Officer, TRESU
    Phone: +45 5130 2780

    The MIL Network –

  • MIL-OSI Economics: Asian Development Blog: Building Healthy Supply Chains While Cutting Carbon

    Source: Asia Development Bank

    Decarbonizing healthcare supply chains is essential to reducing emissions, minimizing waste, and strengthening the resilience of health systems, particularly in vulnerable regions.

    More than 70% of healthcare emissions are generated in the supply chain. This includes the production, procurement, transport, and disposal of health goods and services, such as pharmaceuticals, vaccines, medical devices, hospital equipment, food, and other items.

    Advancing low-carbon, resilient supply chains will be essential for achieving universal health coverage and equitable healthcare access in vulnerable hotspots in Asia, the Pacific, and globally.

    With momentum growing to decarbonize health care, lowering supply chain emissions will reduce the sector’s overall environmental impact. As demography and urbanization shifts evolve and environmental challenges intensify, the burden of communicable and non-communicable diseases will further strain the region’s health systems.

    Without supply chain decarbonization efforts in place, the risks of disruptions due to inflated prices, commodity shortages, or external shocks like disasters could wreak havoc on health systems. The consequences would be particularly dire for the poorest and most vulnerable populations, putting millions of lives at risk.

    The following four actions are recommended to help countries integrate decarbonization across the supply chain:

    Develop eco-designed medical supplies and products. Single-use plastic supplies, such as syringes, IV bags, surgical gloves, and face masks, significantly reduce infection risks in healthcare settings but their production and disposal contribute substantially to carbon emissions and generate large amounts of waste.

    Applying an environmentally-conscious approach to product design and incorporating circular economy principles, such as reducing material use, reusing components where feasible, and enhancing recyclability, can help mitigate environmental impacts.

    Sustainable alternatives to petroleum-based plastics include plant-based polymers, natural rubber, and other biodegradable or compostable materials, which can lower emissions, reduce waste, and improve resilience across the product lifecycle.

    Innovative materials—such as plant starches with plasticizers for flexible or rigid pharmaceutical packaging, plant-based cellulose derivatives like cellulose acetate for lab and pharmaceutical use, and sustainable insulating options like recyclable plastics or cardboard-based alternatives—are transforming the sector by enabling controlled lifespans, improving insulation efficiency, and reducing reliance on energy-intensive refrigeration.

    Decarbonize and build sustainability into manufacturing processes. As the healthcare market grows, medical supply and equipment manufacturers will continue to generate more emissions and waste during production.

    Building green practices into these processes is imperative for sustainable development and can lower operational costs over the long term. Key strategies include responsibly sourcing local and sustainable raw materials. Reduced waste is also needed in production processes such as reusing materials, repurposing products, and recycling.

    Replacing product packaging with biodegradable, reusable, or multi-use materials is also needed.

    Decarbonizing healthcare supply chains is not just an environmental imperative—it’s essential to building resilient, equitable health systems, especially in vulnerable regions.

    Invest in low-carbon transportation and logistics. Medical supply chains are highly complex, requiring a reliable and efficient flow of medicines, medical supplies, and medical devices from manufacturers to in-country distributors and healthcare providers.

    Ensuring the integrity of these essential products while promoting inclusive and sustainable growth necessitates a transition to resilient, low-carbon transportation and logistics systems.

    Key strategies for decarbonizing medical supply chains include optimizing transportation routes, adopting electric vehicles, and reducing supply-demand distances through localized sourcing and production.

    For instance, shifting away from air freight, approximately 40 times more emissions-intensive than sea, road, or rail transport, offers significant carbon savings. Leading pharmaceutical companies have made substantial progress in this regard—AstraZeneca increased its use of sea freight from 5% in 2012 to 65% in 2022, while Merck reduced its reliance on air transport from 65% in 2018 to just 10% in 2021.

    The electrification of short-distance transportation is another crucial step. Battery-powered electric vehicles are well-suited for most journeys under 400 kilometers, reducing emissions associated with fossil fuel-based trucking. Investing in bio-based or synthetic fuels for long-distance travel can help decarbonize air, sea, and heavy-road transport.

    Successful initiatives highlight the potential for transformation. Adopting compressed natural gas for transportation fleets in India has significantly reduced emissions. Similarly, drone technology has played a vital role in enhancing healthcare supply chains, particularly in remote areas. In the Pacific Islands, drones carrying up to three kilograms (6.6 pounds) have improved last-mile medical delivery while reducing the carbon footprint, traveling up to 130 kilometers (81 miles) per flight.

    Implement sustainable healthcare waste management. Millions of tonnes of waste are generated by healthcare activities each year, due largely to the use of single-use plastics and poor waste management practices.

    The pandemic led to a dramatic increase in the volume of healthcare waste globally, while many health facilities across Asia and the Pacific have limited waste management services. The use of chemical disinfectants and incineration to treat waste can result in the release of pollutants into the environment, causing respiratory and other diseases.

    Replacing carbon-intensive incineration with alternative waste treatment technologies like steam-based disinfection and adopting the principles of circularity to increase the reuse and recycling of healthcare products and materials can ease the burden of waste on health systems, reduce unnecessary emissions and human health, and save costs.

    Ensuring a robust regulatory framework to define, monitor, and enforce health safety standards is also a critical step toward resilient health systems.

    Decarbonizing healthcare supply chains is not just an environmental imperative—it’s essential to building resilient, equitable health systems, especially in vulnerable regions.

    Nansu Isadahl and Avdesh Gupta contributed to this blog post.
     

    MIL OSI Economics –

  • MIL-OSI Europe: Piero Cipollone: Interview with Expansión

    Source: European Central Bank

    Interview with Piero Cipollone, Member of the Executive Board of the ECB, conducted by Andrés Stumpf

    24 March 2025

    The last ECB Governing Council meeting left the door open for a pause in interest rate cuts, or even stopping them all together. Would you be OK with rates remaining at their current level of 2.5%?

    At the time of our March meeting, markets were pricing in a reduction in interest rates over the coming months, including going below 2%, with rates stabilising around that level. To produce our macroeconomic projections we take as given the rate path being priced in by markets and, despite rates being on a downward trajectory, the projections showed inflation converging towards our target at the beginning of 2026, with slightly weaker growth.

    Since then, not only has this narrative been confirmed, but key issues have arisen that have strengthened the arguments in favour of continuing to lower rates. First, energy prices have fallen significantly. The upward revision to projected inflation for this year was based on increased energy costs, but the pressure has eased as this trend reverses. Second, the euro has appreciated and real rates have increased, which contributes to lower inflation.

    And if the United States were to impose tariffs on European exports, that would have a negative impact on demand, which would further strengthen the downward trend in inflation. In the same vein, trade tensions between China and the United States could lead to China redirecting its products to the European market, increasing the downward pressure on prices.

    So will you continue cutting rates?

    We will go into each meeting with an open mind, assessing the available data and taking decisions on a meeting-by-meeting basis. Each adjustment will depend on how the economy evolves and how the uncertainties are resolved, but current conditions make it conceivable that monetary policy will be less restrictive as, at the moment, the outlook remains consistent with our March projections.

    In fact, according to the data we have available, we are likely to reach our inflation objective sooner than our latest projections indicate.

    The ECB’s latest statement signalled that monetary policy is now “meaningfully less restrictive”. Does this solely refer to the rate cuts that have already happened, or might it give us some hints about your next moves?

    That phrase alludes to the fact that we have already come a long way. It doesn’t say anything about the future, and we will go into the next meeting with new data that we will have to assess. If the path and our narrative are confirmed, from my perspective there is room to relax our monetary policy further.

    Would additional rate cuts get us to the famous, much-debated “neutral rate”, which is neither expansionary nor contractionary?

    It’s an interesting theoretical concept, but not particularly useful for conducting monetary policy. At the ECB we have sophisticated models and economists who analyse projections and risks. Their work provides crucial information that enables the Governing Council to take decisions on the basis of sound evidence. The neutral rate sparks an engaging debate, but the range [from 1.75% to 2.25%] is so wide that, depending on where you fall within this apparent neutral range, you could be conducting a totally different monetary policy.

    Europe currently needs substantial investment to tackle the climate transition and the loss of competitiveness, and now also for defence. Can the ECB help to mitigate this challenge?

    The ECB will contribute by providing a stable environment. For us, price stability and the expectation of price stability are essential elements because they encourage long-term planning. Families and businesses can plan, invest and take decisions accordingly.

    We are considering climate change, competitiveness and security challenges and the associated financing needs from that angle, analysing their economic and financial impact from the perspective of price stability. Aside from that, we’re getting into areas that aren’t within the ECB’s mandate.

    In any case, it’s important to avoid monetary policy keeping GDP growth below potential if that isn’t necessary to control inflation. If we are continually growing below potential we will end up undermining that potential. Investment is essential for supporting and growing the economy, and unnecessarily reducing investment can hamper long-term growth and make the economy more vulnerable to shocks.

    So, in this sense, our main contribution will be maintaining price stability, securing a stable economic environment and avoiding unnecessary restrictions on GDP growth.

    Recently you have signalled that the ECB shrinking its balance sheet could make monetary policy more restrictive and demand larger rate cuts.

    It’s more complicated than that. The large asset purchases we carried out in the past lowered long-term sovereign bond yields by as much as 175 basis points. Now, because of the reduction in the size of our balance sheet, this figure is 75 basis points and falling.

    But there’s another important factor. It’s not just about the size of central bank reserves, it’s also about their composition. ECB research shows that the composition of these reserves is very important for banks’ lending ability. The research estimates that debt portfolio holdings (under the ECB’s asset purchase programme (APP) and pandemic emergency purchase programme (PEPP)) will decrease by around €500 billion in 2025. This is associated with a possible €75 billion decline in credit supply. To put this into perspective, it is roughly equivalent to the amount of loans that banks granted to non-financial corporations in 2024.

    Therefore, we should bear in mind that, if nothing else happens, the reduction of the central bank balance sheet is putting pressure on banks’ lending capacity. So we need to monitor this effect and take it into consideration when calibrating our monetary policy stance.

    Growth in Spain is stronger and inflation is somewhat higher. Is the country at risk from the interest rate cuts?

    Inflation in Spain is currently slightly higher due to energy prices, and the stronger growth is in part also driven by supply factors, such as the impact of migration on the labour market. I think Spain’s growth is healthy.

    In any case, there have always been differences between euro area economies, and between regions in individual countries. The important thing is that there is convergence in economic and financial conditions, and we are actually seeing that in many respects. For example, despite all the volatility, risk premia have remained relatively contained.

    What is the current status of the digital euro?

    We are progressing as planned with our preparation phase, which will come to an end in October this year. We have been working on selecting providers. We’ve carried out the procurement process with potential suppliers and are about to finalise it. We are also developing the rulebook, and we’re working on ways to engage more with users.

    In the meantime, we are waiting for the legislative process to be completed. That is a key component.

    Are you optimistic?

    We know that progress has been made and we hope that the process will be concluded within a reasonable amount of time.

    One factor is important: there is a growing sense of urgency. The situation outside the euro area is a source of pressure and demands greater consideration of the risks we face in payments as a result of our fragility and our extreme dependence on foreign providers. I have the impression that this increased sense of urgency has now reached the legislators.

    At the European Parliament, President Lagarde argued that the digital euro is a tool of sovereignty. Would you agree with that?

    I fully agree with that statement. The digital euro is a structural necessity for the European payments market, irrespective of recent developments in other countries. However, recent events further underline the urgent need to make progress in this direction.

    The digital euro is key to reducing our foreign dependence as regards Europeans’ everyday payments. In addition, having more solutions across Europe will make us more competitive, which will lead to lower prices, better services and greater innovation.

    At a time of tensions between the EU and the United States, don’t you think that a public initiative designed to compete with US payment systems could cause further friction?

    I don’t think so, because it’s logical to think that each jurisdiction should have its own infrastructure that it can rely on. Payments are like water or electricity – essential services that every economy needs to ensure are available. In developing a digital euro, we are not seeking a confrontation with anyone. Implementing a digital euro is something that we should have done irrespective of the circumstances. It is about ensuring the resilience of our economy and that we are the master of our own destiny.

    The United States has abandoned plans for a digital dollar and other countries have also put their projects on hold. Why do you think the digital euro should go ahead?

    Every country and every region has its particular characteristics. In Europe we are facing specific challenges, like a fragmented payments market and a dependence on foreign solutions. Other countries and regions do not have the same problems and so may not see the same need.

    In any case, in the United States, there is a proposal that would allow stablecoins to hold their reserves with the Federal Reserve. This could be marketed as a form of hybrid digital dollar. In fact, some stablecoins present themselves as the world’s digital dollar.

    When will people be able to pay with digital euro?

    It very much depends on when the legislative process is finalised. The technical preparations and developments will take time, both on our side and for banks and the market. This could take some two or two-and-a-half years from the moment the decision to issue a digital euro is taken, once the legislation is in place.

    Do you have an estimate of the cost of the project?

    As the legislation is still pending and the procurement phase has not yet been finalised, it is difficult to say what the final cost of the project will be. In the procurement documentation we gave an initial estimate for the elements that will be sourced externally. This was based on market research we had carried out previously. These costs are estimated to be €432 million, including both the infrastructure and the operation of the system for 10-15 years. On top of that there will also be internal development costs, especially for the ledger. The ECB would bear these costs in the same way as it does for the production and issuance of banknotes. And like for banknotes, these costs would be covered by the seigniorage income generated by the digital euro.

    MIL OSI Europe News –

  • MIL-OSI: Tryg A/S – Q1 2025 pre-silent newsletter

    Source: GlobeNewswire (MIL-OSI)

    Tryg A/S – Q1 2025 pre-silent newsletter

    Tryg will conduct pre-close analyst calls and meetings during the week commencing on March 24, ahead of the Q1 2025 results, which will be released on April 11. This newsletter aims to inform capital market participants of the key factors influencing the company’s recent financial performance.

    Insurance revenue growth

    Tryg maintains a balanced distribution of insurance revenue across the Scandinavian countries, with approximately 50% of revenue generated in Denmark, 30% in Sweden, and 20% in Norway. In Q1 2024, Tryg reported insurance revenue of DKK 9,531m.

    From 2025 Q1 and onwards the commercial and corporate segments will be reported together in the segment named ‘Commercial’. The commercial segment will experience a smaller spillover effect into 2025 of the derisking of the corporate portfolio carried out in 2024. In general, the group revenue development remains in line with recent development.

    When converting earnings from local currencies to DKK, Tryg’s reporting currency, the expected average value of SEK 100 is DKK 65.6 (66.6 Q1 2024), and NOK 100 is DKK 63.4 (65.6 Q1 2024).

    Claims environment

    Underlying claims development
    Tryg operates a stable business and recent trends in underlying performance should thus be considered reliable indicators for short-term trends. The Group’s underlying claims ratio was 72.3% in Q1 2024. At the capital markets day (CMD) on 4 December 2024, Tryg mentioned that it expects a broadly stable to slightly improving underlying performance in the new strategy period towards 2027.

    Weather claims
    For Q1, normalised weather claims amount to 40% of the annual DKK 800m guidance, equating to DKK 320m. As a reminder, the annual expectation for weather claims is split as follows (in percentages terms): 40% in Q1, 10% in Q2, 20% in Q3 and 30% in Q4.

    In general, a milder than average winter with warmer temperatures has been recorded in Scandinavia. A couple of smaller storms have hit the region (Floriane and  Éowyn). It is important to remember that freezing temperatures always cause bursting pipe claims and more car accidents are reported during the winter due to more difficult weather conditions.

    Large claims
    On an annual basis, Tryg provides guidance for large claims amounting to DKK 800m, evenly distributed across quarters. Occasionally, information about large claims may be available in mass media or local press.

    Interest rates development
    For Q1, we expect an approximate discount rate of 2.3% at the time of writing. The discounting percentage was reported at 2.1% in Q4 2024.

    Run-off expectations towards 2027
    At the 2024 CMD, Tryg stated a long-term run-off expectation of ~2% towards 2027.

    Investment activities

    Tryg has divided its investment activities into a match portfolio (approx. DKK 44bn at Q4 2024) and a free portfolio (approx. DKK 17bn as per Q4 2024). As announced at the 2024 CMD, the free portfolio was derisked during Q4 2024 and is now mainly made up by Scandinavian covered bonds and government bonds (approx. DKK 13bn) and the real estate portfolio (approx. DKK 3bn). As a rule of thumb, the return on bonds can be modelled as 50% NYKRCMB2 and 50% NYKRCMG2 (Bloomberg tickers). For the real estate portfolio, a normalised annual return of 6.5% is assumed. The current buyback program of DKK 2bn started in December will impact the size of the free portfolio accordingly.

    The return of the match portfolio mainly consists of the return on premium provisions, which is expected at DKK 75m per quarter with the current level of interest rates.

    Additionally, the line ‘Other financial income and expenses’ is guided at DKK -90m per quarter and mainly consists of costs related to currency hedges, general balance sheet items and costs related to running the investment operation. As described in the newsletter on inflation hedging dated 17 March 2025, this line now also includes the net result of the inflation hedge. In the medium term, this is expected to average zero, but mismatches may occur in the short term.

    Other income and cost

    Other income and cost are expected between DKK -350m and DKK -370m on a quarterly basis. This is primarily driven by amortisation of intangibles related to the RSA Scandinavia acquisition.

    Number of shares

    At year-end 2024, Tryg reported 613,165k outstanding shares. Tryg announced a DKK 2bn share buyback at the CMD in December 2024, and as at 14 March 2025, 6,010,787 shares have been acquired in the quarter to date. The status of the buyback is announced each Monday at noon CET.

    Outlook statement from annual report 2024

    Tryg reported an insurance service result, adjusted for the more favorable-than-normal large and weather claims outcome, of around DKK 7.2bn in 2024 and it is now targeting its highest ever insurance service result of between DKK 8.0-8.4bn in 2027. The insurance service result is expected to increase gradually throughout the strategy period.

    Tryg will publish the Group’s Q1 results for 2025 on 11 April 2025 at around 7:30 CET.

    Conference call

    Tryg will host a conference call on the day of the release at 10:00 CET. CEO Johan Kirstein Brammer, CFO Allan Kragh Thaysen, CTO Mikael Kärrsten and Head of Financial Reporting Gianandrea Roberti, SVP  will present the results in brief, followed by a Q&A session.

    The conference call will be held in English.

    Date 11 April 2025
    Time 10:00 CET
     

    Dial-in numbers

     Pin code

    		 +45 (DK) 78 76 84 90

    +44 (UK) 203 769 6819

    +1 (US) 646 787 0157

    560768

    You can sign up for an e-mail reminder on tryg.com. The conference call will also be broadcast on this site. An on-demand version will be available shortly after the conference call has ended.

    All Q1 2025 material can be downloaded on tryg.com shortly after the time of release.

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    The MIL Network –

  • MIL-OSI: Mitsubishi Corporation & Alt Carbon sign agreement to scale carbon removal in South Asia

    Source: GlobeNewswire (MIL-OSI)

    • Partnership agreement to scale carbon removal through a breakthrough Enhanced Rock Weathering tech process.
    • Alt Carbon to generate high-quality, durable Carbon Removal (CDR) credits.

    LONDON, March 24, 2025 (GLOBE NEWSWIRE) — Mitsubishi Corporation (MC), and Alt Carbon, a Carbon Dioxide Removal (CDR) company, announced a partnership agreement to scale the removal of carbon dioxide in South Asia. The agreement between the two parties will generate high quality, durable, carbon removal tons that have been created through a breakthrough Enhanced Rock Weathering (ERW) tech process.

    “Removal of carbon dioxide is critical to meet net-zero emissions by 2050. With Alt Carbon, we have a formidable partner with highly innovative technology in a breakthrough Enhanced Rock Weathering process that locks carbon in the ocean sink. From removing carbon, helping local farmers, and stringent testing measures to generate CDR credits, Alt Carbon is uniquely positioned to capture the ERW market. MC’s commitment to decarbonization is unwavering and reflects our dedication to a sustainable future, as we scale the CDR industry through our collaboration with Alt Carbon in ERW,” said Tadashi Sawamura, GM, Carbon Management Dept., Mitsubishi Corporation.

    Alt Carbon deploys a process called ERW that takes crushed basalt rock and spreads it on large swathes of agricultural land. The rock’s natural reaction with rainwater pulls the CO2 from the air & stores it in the soil, thereby improving crop yields. This dissolved inorganic carbon ultimately reaches the ocean via river networks and remains locked in the ocean for 10,000+ years. 

    ERW is one of the novel techniques for Carbon Removal (CDR) that has been advocated by the The Intergovernmental Panel on Climate Change (IPCC) as a critical tool for reaching Net Zero by 2050. Alt Carbon is tapping into the increased demand for high quality, durable, traceable, carbon removal projects – and it’s operating in a growing market. Alt Carbon’s in-house MRV, team of scientists from the Indian Institute of Science, Bangalore, and the Darjeeling-Climate Action Lab (D-CAL) make it one of the leading carbon removal companies in the Global South, ideally placed to remove CO2 at a gigaton scale.

    “Having an institution like Mitsubishi Corporation recognise and support our efforts entrenches our belief in the science and technology behind ERW for carbon removal. In 15 months, we have rigorously tested and modelled our operations and technology in the single pursuit of removing carbon dioxide. This is just the first step, but it feels like a giant leap as MC partners with us to make India a hub for carbon removal,” said Co-founder & CEO Shrey Agarwal, Alt Carbon. 

    Alt Carbon is the first Indian headquartered company to receive a prepurchase agreement from Frontier, an Advance Market Commitment to purchase $1+ billion of permanent carbon removal by 2030. As part of this agreement, Alt Carbon received $500,000 for the purchase of high quality, durable carbon removal tons that have been generated through the Enhanced Rock Weathering process. The participating buyers included Stripe, Shopify, Alphabet, Meta and Watershed (on behalf of Match). Alt Carbon also became the first ERW company globally to receive an offtake agreement from the South Pole & Mitsubishi-led NextGen buyer’s coalition.   

    In order to meaningfully undertake climate action, we require gigaton level projects — i.e. projects that have a shot at removing 1 billion tons of CO2 every year. Alt Carbon is targeting reaching up to 500,000 hectares of land in North East India’s tea belt by 2030, as part of the Darjeeling Revival Project, removing upwards of 5 million tonnes of CO2 every year. Beyond that, the company aims to scale up its operations in South Asia to further work towards its goal of removing 1 billion tons of CO2, each and every year. 

    Notes to the editor
    Media images can be found here. For further information please contact the Alt Carbon press office: Adithya Venkatesan on adithya@alt-carbon.com or +91 94811 74420

    About Alt Carbon
    Alt Carbon is a co2 Removal (cdr) company based out of India transforming Darjeeling’s struggling tea industry from being at-risk from the effects of climate change, to becoming pioneers for climate action. Alt Carbon is on a mission to capture vast amounts of CO2 from the atmosphere. Its ambitious goal is to remove 5M MT of CO2 by 2030, with the ultimate aim of reaching a billion tons – for good. For more information please visit https://www.alt-carbon.com/ or follow via LinkedIn. 

    Media Contact:

    Name: Adithya Venkatesan

    Company Name: Alt Carbon

    Designation: Head of Brand

    Email Address: adithya@alt-carbon.com

    Website Link: https://www.alt-carbon.com/

    Disclaimer: This press release is provided by the Alt Carbon. 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 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. 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.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d8f7c1b5-2498-42d7-9535-fd8d0fce67fd

    The MIL Network –

  • MIL-OSI China: S. Korea’s court holds 2nd preparatory hearing of President Yoon’s criminal trial

    Source: China State Council Information Office

    South Korea’s court on Monday held the second preparatory hearing of the impeached President Yoon Suk-yeol’s criminal trial.

    The second preliminary hearing was held at a courtroom of the Seoul Central District Court around 10:00 a.m. local time (0100 GMT) to clarify the main disputes and evidence.

    Yoon was absent from the hearing after attending the first one on Feb. 20. The first formal hearing was scheduled for April 14.

    Finance and foreign ministers will be questioned during the first formal hearing, as witnesses at the request of the prosecution.

    Yoon was released on March 8 as the prosecution decided not to appeal against a court’s release approval.

    The Seoul Central District Court approved the release of the arrested president, accepting Yoon’s request to cancel his detention that was made by his legal team on Feb. 4.

    Yoon was apprehended in the presidential office on Jan. 15 and was indicted under detention on Jan. 26 as a suspected ringleader of insurrection, becoming the country’s first sitting president to be arrested and prosecuted.

    Yoon declared an emergency martial law on the night of Dec. 3 last year, but it was revoked by the opposition-led National Assembly hours later.

    A motion to impeach Yoon was passed in the National Assembly on Dec. 14, and since then the constitutional court has held 11 hearings on Yoon’s impeachment. 

    MIL OSI China News –

  • MIL-OSI: 14/2025・Trifork Group: Weekly report on share buyback

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 14 / 2025
    Schindellegi, Switzerland – 24 March 2025


    Trifork Group: Weekly report on share buyback

    On 28 February 2025, Trifork initiated a share buyback program in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, (Safe Harbour regulation). The share buyback program runs from 4 March 2025 up to and including no later than 30 June 2025. The buyback program will not be active from 9 to 15 April 2025. For details, please see company announcement no. 7 of 28 February 2025.

    Under the share buyback program, Trifork will purchase shares for up to a total of DKK 14.92 million (approximately EUR 2 million).

    Prior to the launch of the share buyback, Trifork held 256,329 treasury shares, corresponding to 1.3% of the share capital.

    Under the program, the following transactions have been made:

    Date    Number of shares       Average purchase price (DKK)       Transaction value (DKK)
    Total beginning 19,188 80.74 1,549,334
    17 March 2025 2,000 84.74 169,480
    18 March 2025 2,000 87.22 174,440
    19 March 2025 2,200 90.81 199,782
    20 March 2025 2,100 94.39 198,219
    21 March 2025 1,900 94.01 178,619
    Accumulated 29,388 84.04 2,469,874

    Since the share buyback program was started on 4 March 2025, the total number of repurchased shares is 29,388 at a total amount of DKK 2,469,874.

    With the transactions stated above, Trifork holds a total of 285,717 treasury shares, corresponding to 1.4%. The total number of registered shares in Trifork is 19,744,899. Adjusted for treasury shares, the number of outstanding shares is 19,459,182.


    Investor and media contact
    Frederik Svanholm, Group Investment Director & Head of Investor Relations
    frsv@trifork.com, +41 79 357 73 17


    About Trifork
    Trifork is a pioneering global technology partner, empowering enterprise and public sector customers with innovative solutions. With 1,229 professionals across 73 business units in 16 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Labs, the Group’s R&D hub, drives innovation by investing in and developing synergistic and high-potential technology companies. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

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    The MIL Network –

  • MIL-OSI: NB Private Equity Partners Announces Transaction in Own Shares

    Source: GlobeNewswire (MIL-OSI)

    THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

    St Peter Port, Guernsey   24 March 2025

    NB Private Equity Partners (“NBPE” or the “Company”) today announces details of Class A Shares bought back pursuant to general authority granted by shareholders of the Company on 12 June 2024 and the share buy-back agreement with Jefferies International Limited.

    Transaction on London Stock Exchange

    Date of purchase of Shares 21 March 2025
    Number of Shares purchased 12,594 Class A Shares
    Highest price/lowest price paid £15.36 / £15.14
    ISIN for the Shares GG00B1ZBD492

    All Class A Shares bought back will be cancelled. Following the cancellation, the number of outstanding Class A Shares is 45,839,264‬. The Company also has 3,150,408 Class A shares held in treasury. For reporting purposes under the FCA’s Disclosure Guidance and Transparency Rules the market should use the figure of 45,839,264 voting rights when determining if they are required to notify their interest in, or a change to their interest in the Company.

    For further information, please contact:

    NBPE Investor Relations        +44 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com

    Kaso Legg Communications        +44 (0)20 3882 6644

    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman

    Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with 2,800+ employees in 26 countries. The firm manages $500+ billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. UNPRI named the firm a Leader, a designation awarded to fewer than 1% of investment firms for excellence in environmental, social and governance practices. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last ten years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of December 31, 2024, unless noted otherwise.

    This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

    NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.

    The MIL Network –

  • MIL-OSI: AB Šiaulių bankas information publication in Estonian

    Source: GlobeNewswire (MIL-OSI)

    AB Šiaulių bankas started publishing important news in Estonian on Nasdaq. Interim financial results announcements and other information deemed to be of interest to investors in Estonia will be published in Estonian.

    “We appreciate the activity of Estonian investors and aim to maintain close contact with them. Around 70% are Estonian retail investors among Šiaulių bankas’ shareholders. We cooperate with financial intermediaries, analysts and other institutions in the Baltics, so we strive to make it easier for them to access our most important information.

    Šiaulių bankas is undergoing a transformation to become an Artea bank and striving to be closer to its clients and investors, and this initiative confirms it once again”, – says Tomas Varenbergas, Head of Investment Management Department of Šiaulių bankas.

    Additional information:
    Tomas Varenbergas
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    The MIL Network –

  • MIL-OSI: Jeito Capital co-leads the oversubscribed €78 million financing in Augustine Therapeutics to develop novel therapies for neuromuscular, cardio-metabolic and neurodegenerative diseases

    Source: GlobeNewswire (MIL-OSI)

    Jeito Capital co-leads the oversubscribed €78 million financing in Augustine Therapeutics to develop novel therapies for neuromuscular, cardio-metabolic and neurodegenerative diseases

    • Proceeds from the financing will advance Augustine’s lead candidate, AGT-100216, through a Phase 2 proof-of-concept clinical trial in Charcot-Marie-Tooth and support significant pipeline expansion into cardio-metabolic and neurodegenerative diseases
    • This investment reinforces Jeito’s expertise and interest to breakthrough innovations in neurological diseases that affect large patient populations with high unmet medical needs and limited treatment options

    Paris, France, March 24, 2025 – Jeito Capital (“Jeito”), a global leading independent Private Equity fund dedicated to biopharma, announced today it is co-leading an oversubscribed €77.7 million (USD 84.8 million) Series A financing round in Augustine Therapeutics (“Augustine”), a biotechnology company focused on developing new therapies for neuromuscular, neurodegenerative and cardio-metabolic diseases through the inhibition of the cytosolic Histone DeACetylase 6 (HDAC6) enzyme.

    Jeito and Novo Holdings, new investors, co-led the oversubscribed total financing, joined by existing investors Asabys Partners, who led an initial €17,5 million closing in 2024, Eli Lilly and Company, AdBio Partners, V-Bio Ventures, PMV, VIB and Gemma Frisius Fund, the US-based Charcot-Marie-Tooth (CMT) Research Foundation, and Newton Biocapital. Augustine was initially formed and seed-funded by V-Bio Ventures, AdBio Partners, VIB, PMV, and Gemma Frisius Fund.

    Mehdi Ainouche, Senior Principal, and Annette Clancy, Operational Investor at Jeito Capital, will also join Augustine’s Board of Directors respectively as Board member and observer.

    Founded in 2019 in Belgium, as a spin-off from the European-based excellence center VIB-KU Leuven (University of Leuven), Augustine has identified HDAC6 inhibition as a promising approach for the treatment of neuropathies and particularly Charcot-Marie-Tooth (CMT) disease – a motor and sensory neuropathy that affects the peripheral nervous system, leading to progressive muscle weakness, sensory loss, deformities, and walking difficulties.
    HDAC6 plays a key role in cellular processes related to tissue aging, and its pharmacological inhibition is a promising approach in a number of diseases. Augustine Therapeutics has developed a next-generation approach to selectively inhibit HDAC6 while preserving its beneficial non-catalytic functions.

    Proceeds from the investment will advance Augustine’s lead candidate, AGT-100216, through a Phase 1/2 proof-of-concept clinical trial in CMT, expected to begin in 2025. The financing will also support pipeline expansion for two other programs in undisclosed neurodegenerative and cardio-metabolic indications.

    Through this investment, Jeito leverages its expertise in neurology, a therapeutic area with strong potential for innovation and significant unmet needs. The quality of Augustine’s assets and team – led by Gerhard Koenig who brings more than 30 years of experience in drug development and track-record in biopharma successes – aligns with Jeito’s investment thesis of accelerating the development of groundbreaking medical innovations and unlocking companies’ potential to become future global market leaders.

    Dr. Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, said:
    “Through this new investment, Jeito reaffirms its interest in a cutting-edge therapeutic field, where innovation can bring transformative benefits for patients still heavily impacted by the disease. This commitment to the patients is at the core of our mission, and takes on its full meaning through this funding. We are delighted to support Augustine and share our knowledge and experience with its talented teams, to advance novel therapeutics and contribute to the development of future innovative treatments.”

    Mehdi Ainouche, Senior Principal at Jeito Capital, added:
    “This investment illustrates Augustine’s potential for innovation in a therapeutic area where patients have limited to no treatment options. We are therefore happy to co-lead this financing to realize Augustine’s potential, which stands out for both the quality of its research and the expertise of Gerhard and his team. We look forward to our future collaboration, which shares a common ambition: to accelerate clinical development to go faster to patients.”

    Gerhard Koenig, CEO Augustine Therapeutics, concluded:
    “This significant financing is a testament to the innovative medicinal chemistry that Augustine was founded on, which acts via a unique mechanism of action. The therapeutic potential of HDAC6 is widely recognized in our industry, but previous drug approaches have been sub-optimal, particularly for chronic diseases. At Augustine, we believe we have solved these challenges with a novel non-hydroxamate, non-hydrazide producing chemotype which is highly selective and avoids the typical liabilities of prior chemotypes, unlocking HDAC6 inhibition as a therapeutic approach. We now look forward to rapidly advancing our lead candidate into clinical trials for the treatment of CMT, while broadening the potential for our candidates to change treatment paradigms for neurological and cardio-metabolic diseases. I would like to thank our new and existing investors for their unwavering support as we continue to advance into clinical development.”

    About Jeito Capital
    Jeito Capital is a global leading Private Equity fund with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito has built a diversified portfolio of clinical biopharmas with cutting-edge innovations addressing high unmet needs. Jeito Capital is based in Paris with a presence in Europe and the United States.
    For more information, please visit www.jeito.life or follow us on LinkedIn or X.

    About Augustine Therapeutics

    Augustine Therapeutics is a biotechnology company focused on the treatment of neuromuscular, neurodegenerative and cardio-metabolic diseases through its next-generation approach to selectively inhibit HDAC6. Augustine’s HDAC6 inhibitors has been purposefully designed to selectively inhibit HDAC6 while preserving its beneficial non-catalytic functions. Augustine’s lead program, AGT-100216, is the first selective HDAC6 inhibitor for long-term treatment of Charcot-Marie-Tooth (CMT) disease. With its novel non-hydroxamate, non-hydrazide producing chemotype, Augustine’s HDAC6 approach is selective, avoids the limitations of other chemotypes, and built for chronic diseases. With this novel approach, the Company will also be targeting diseases beyond CMT, including neurodegenerative and cardio-metabolic diseases. Augustine Therapeutics was founded on the ground-breaking research of Prof. Ludo Van Den Bosch from the VIB-KU Leuven in Belgium.
    For more information visit www.augustinetx.com.

    Contacts:

    Jeito Capital                                        
    Rafaèle Tordjman, Founder & CEO
    Jessica Fadel, EA
    Tel: +33 6 33 44 25 47

    Maior                                                ICR Healthcare
    Stéphanie Elbaz                                Mary-Jane Elliott / Davide Salvi / Kris Lam
    Tel: +33 6 46 05 08 07                        Jeito@icrhealthcare.com
    Tel: +44 (0) 20 3709 5700

    The MIL Network –

  • MIL-OSI Russia: Alexey Overchuk held a meeting with members of the Government of the Republic of Belarus

    Translartion. Region: Russians Fedetion –

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Current issues of trade and economic cooperation between the two countries were considered.

    Alexey Overchuk held a meeting with members of the Government of the Republic of Belarus

    March 21, 2025

    Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to the Russian Federation with the powers of Deputy Prime Minister of the Republic of Belarus Alexander Rogozhnik and Minister of Communications and Informatization of the Republic of Belarus Kirill Zalessky

    March 21, 2025

    Alexey Overchuk held a meeting with members of the Government of the Republic of Belarus

    March 21, 2025

    Previous news Next news

    Alexey Overchuk held a meeting with members of the Government of the Republic of Belarus

    Deputy Prime Minister of the Russian Federation Alexey Overchuk held a working meeting with the delegation of Belarus, headed by the Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to the Russian Federation with the powers of Deputy Prime Minister of the Republic of Belarus Alexander Rogozhnik.

    The Belarusian delegation included the Minister of Industry of the Republic of Belarus Alexander Efimov, the Minister of Communications and Informatization of the Republic of Belarus Kirill Zalessky, the Minister of Energy of the Republic of Belarus Alexey Kushnarenko, the Minister of Finance of the Republic of Belarus Yury Seliverstov, and the First Deputy Minister of Transport and Communications of the Republic of Belarus Ilya Glazko.

    The parties discussed current issues of trade and economic cooperation between Russia and Belarus, paying particular attention to the progress of work within the framework of the Main Directions for the Implementation of the Provisions of the Treaty on the Establishment of the Union State for 2024–2026, issues of interaction in the energy sector, improving transport connectivity, including increasing the capacity of railway communications and developing the port infrastructure of the two countries, implementing joint import-substituting projects, digitalization and the use of electronic digital signatures. Issues of increasing the availability of mobile communications services in the Union State were also discussed.

    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 Banking: ADB’s Partnership with Canada

    Source: Asia Development Bank

    • ADB and Canada have been working together for nearly six decades to tackle some of the most pressing development challenges in Asia and the Pacific.

    Article | 24 March 2025

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    •  A founding member of ADB, Canada has contributed $245 million to sovereign projects, matched by $868 million of ADB’s resources, and $530 million to ADB-managed trust funds.
    •  Canada’s Indo-Pacific Strategy’s investment of about Can$2.3 billion over the next five years focuses on sustainable infrastructure, gender equality, climate change, and inclusive development.
    •  ADB and FinDev, Canada’s development finance institution, signed a memorandum of understanding in May 2023 to cooperate on sustainable and inclusive private sector investments that promote development in Asia and the Pacific.

    For nearly six decades, the Asian Development Bank (ADB) and Canada have collaborated to tackle some of the most pressing development challenges in Asia and the Pacific. From advancing gender equality to addressing the climate crisis, environmental degradation, and poverty and inequality, the partnership has played an important role in the region’s sustainable development.

    A founding member of ADB, Canada has contributed $245 million to sovereign projects, matched by $868 million of ADB’s resources, and $530 million to ADB-managed trust funds. Canada-based private entities have also committed $383 million to nonsovereign operations.

    In 2023, Canada’s cofinancing commitments amounted to $6.9 million. In the same year, ADB’s Trade and Supply Chain Finance Program supported five Canadian exports and/or imports valued at $2.1 million.

    Advancing shared priorities

    Canada’s Indo-Pacific Strategy, launched in November 2022, identifies Asia and the Pacific as a region of immense opportunity. With an investment of about Can$2.3 billion over the next five years, the strategy signals Canada’s commitment to the region. It focuses on sustainable infrastructure, gender equality, climate change, and inclusive development. It also aligns efforts with global initiatives such as the G7 Partnership for Global Infrastructure Investment.

    Collaborating with FinDev Canada

    ADB and FinDev, Canada’s development finance institution, signed a memorandum of understanding in May 2023 to cooperate on sustainable and inclusive private sector investments that promote development in Asia and the Pacific. They will jointly support private sector growth and investments in emerging and developing markets that advance women’s economic empowerment, climate action, and local market development.

    Driving results through trust funds

    ADB’s trust funds are essential to mobilize private financing and accelerate private sector participation in development. Canada has supported 6 ADB-managed trust funds, including:

    Asia Pacific Project Preparation Facility. Enhancing infrastructure development with $63.3 million in collective contributions alongside Australia, Japan, and the Republic of Korea. It supports the preparation and structuring of infrastructure projects, with private sector participation, and bringing them to the global market.

    Canadian Climate and Nature Fund for the Private Sector in Asia. Supporting private sector projects in the region focused on climate and nature-based solutions, with $255 million in commitments.

    Canadian Climate Fund for the Private Sector in Asia. Catalyzing private investment in climate change mitigation and adaptation in Asia and the Pacific. It is ADB’s first concessional debt cofinancing facility focused on private sector climate actions, with $77.3 million in commitments.

    Canadian Climate Fund for the Private Sector in Asia II. Supporting private sector participation in climate change mitigation and adaptation in low- and lower-middle-income countries and upper-middle-income small island developing states, with $149.5 million in commitments.

    Stories of ADB-Canada partnerships

    Bangladesh: Keeping the Kids in Primary School. Bangladesh’s Primary Education Development Program, cofinanced by ADB and Canada, and other partners, introduced innovative approaches that changed the face of basic education in the country, such as the adoption of multimedia, teacher training, and reward schemes to encourage kids to stay in school.

    Lao People’s Democratic Republic: Southeast Asia’s Biggest Wind Power Plant. The Monsoon Wind Power Company is building a wind power plant in the Lao PDR. ADB and Canada, along with other partners, are cofinancing what is poised to become the largest wind power facility in Southeast Asia.

    Maldives: Boosting Small Businesses and the Blue Economy. ADB and Canada, along with other partners, are providing the Bank of Maldives with a financing package to boost small businesses and investments in sustainable blue economy projects.

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    • ADB funds and products

    MIL OSI Global Banks –

  • MIL-OSI Asia-Pac: Leading Mainland supply chain and logistics service provider JD Logistics leverages Hong Kong’s status as multinational supply chain management centre to expand Hong Kong operation (with photos)

    Source: Hong Kong Government special administrative region

    Leading Mainland supply chain and logistics service provider JD Logistics leverages Hong Kong’s status as multinational supply chain management centre to expand Hong Kong operation  
    Associate Director-General of Investment Promotion at InvestHK Mr Charles Ng said, “The expansion of JD Logistics in Hong Kong reinforces the city’s status as an international supply chain management centre. We look forward to closer collaboration with them to enhance supply chain efficiency and inject new momentum into Hong Kong’s economic growth and innovation development.”
     
    Since its service upgrade in Hong Kong, JD Logistics has opened four operations centres in Kwun Tong, Kwai Tsing, Sha Tin, and Yuen Long. To increase coverage on Hong Kong Island, a fifth operations centre has been established in Chai Wan, with an area of over 10 000 sq ft. Equipped with automated sorting equipment, the efficiency of the operations centre is expected to double.
     
         The Director of Public Affairs at JD Logistics, Mr Lin Ruibin, said, “The opening of our new operations centre in Hong Kong is not only a commitment to the local market but also an essential step in enhancing supply chain efficiency. The centre is equipped with advanced logistics technologies and automation equipment to ensure rapid delivery and precise management of goods.”
     
    He continued, “Last year, daily package deliveries increased 24-fold in Hong Kong and 14-fold in Macao, while the volume of cross-border packages between Mainland China and Hong Kong grew by 16 times, resulting in double-digit growth overall in our express delivery volume. This reflects the enormous business opportunities in the local market. With the rapid development of e-commerce, JD Logistics will further enhance its operational capacity in Hong Kong to provide customers both locally and across Asia with more convenient logistics solutions.”

         He added, “JD Logistics has been strategically positioned in Hong Kong for years, recognising Hong Kong’s strong purchasing power and its importance as a key node in the Greater Bay Area. Since starting operations in Hong Kong a year ago, we have hired over 450 local employees and will continue to recruit more to meet business needs in the future.”
     
    For more information about JD Logistics, please visit www.jdl.com/en
    To get a copy of the photo, please visit     www.flickr.com/photos/investhk/albums/72177720324566538Issued at HKT 10:00

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Press Conference – Parliament House, Canberra

    Source: Historic Cooma Gaol listed on the NSW State Heritage Register

    ANTHONY ALBANESE, PRIME MINISTER: Thank you very much for joining us. And I begin by giving a shout out to all those mums and dads and carers who are dropping their young ones off at school this morning for the school drop off right around the country and indeed for them, but most importantly for the young Australians to come, this is a historic day. Today we reach the point for the first time in Australian history where every student, public and private, will be delivered the school funding that they deserve. The School Resourcing Standard that was identified by David Gonski more than a decade ago. By Queensland agreeing to sign up with the agreement put in today, will change lives because public education changes lives. Public education is what is accessible and available to all Australians. And from today we can announce that every little Queenslander will have a better chance to reach their potential. Nothing is more important in the role of the Commonwealth and state and territory governments than delivering opportunity for young Australians. And it is education that opens the doors of opportunity and today we are widening them. This historic agreement means that every Australian child who goes to a public school will now receive a fully funded education. The private school students had reached the SRS standard previously. But what the agreements between the Commonwealth and our eight state and territory governments have delivered is that every student, regardless of which school they go to, will receive this funding. This agreement with Queensland will deliver an estimated $2.8 billion in additional funding for Queensland public schools over the next decade. This represents the biggest ever investment in Queensland public schools by an Australian government ever. In Queensland, we expect this to support some 560,000 public school students. It isn’t a blank cheque. This money is tied to real reforms like evidence based teaching practises, phonics and numeracy checks, catch up tutoring and more mental health support. Today’s announcement contributes to an estimated $16.5 billion in additional Commonwealth funding to public schools across the nation from 2025-2026, for the decade ahead to 2034. It represents the biggest new investment in public schools by an Australian government ever. And I do want to thank Premier Crisafulli for the constructive engagement that we have had to deliver this agreement. Constructive engagement that’s now reflected with agreements between every government right across this country, every state, every territory, combining with the Commonwealth. On election night in 2022, I spoke about education as being the key to widening those doors of opportunity. What my Government is doing in early childhood education, now in school education, with our higher ed agreements and with Free TAFE, is delivering across the board so that every child will have the opportunity to fulfil their potential. That’s what aspiration is about. That’s what people want for their young sons and daughters. And indeed, the beneficiaries of this agreement today include obviously people who haven’t been born yet. This is intergenerational reform that will make an incredible difference. And I do want to thank the Premier, we’ve engaged constructively in this over a period of months and today we’ve reached what is a historic agreement.
     
    DAVID CRISAFULLI, PREMIER OF QUEENSLAND: Thanks, PM. It is a historic agreement and today I can confirm that Queensland has secured the biggest investment in schools in our nation’s history. And we are delighted to be standing here with you Prime Minister, thank you very much for the way that you’ve negotiated with us. This means a lot to Queensland and it means a lot because we’ve got some challenges in our schooling systems that other states don’t have. We are the most decentralised state. We’ve got a large portion of rural and regional and Indigenous schools. We have challenges because of that, not just geographically, but challenges that are historically been baked in. As a result, our NAPLAN results aren’t what we have wanted to see in recent years. What this does is give us a decade long commitment to be able to turn the funding shortfall around and with that will come the ability to turn those results around. And what excites me about this deal is it’s not just about a financial injection. It’s also about making sure that we meet standards. It’s also about making sure that we give every child the opportunity to be their best. And we want that and we want them to be their best, whether they’re in the capital or in the smallest of rural or remote schools. It’s important that that money does flow. This is a 10 year deal that will see an immediate investment, but also will deliver long term generational reform that’s important for Queensland, for what we want to achieve. We want to make sure that we have well educated children who become great performing members of our state. And we’ve got a lot ahead as a state. And making sure that we could sign this education deal means a lot to us. And we are delighted with the agreement that’s been struck and we are determined to make sure that the education standards for Queensland kids continue on an upward trajectory. And with that comes the best for our state. Thanks very much.
     
    PRIME MINISTER: We’ll hear from Jason and JP and then we’re happy to take questions.
     
    JASON CLARE, MINISTER FOR EDUCATION: First, I want to thank the Prime Minister. This is real leadership in action. This is a Prime Minister who gets it and who knows how to get things done. Who knows how to work with the states and work with different political parties. A Prime Minister who gets how important this is for our kids and for our future. I also want to thank you, Premier, for all of the work that we’ve done together to get this deal across the line. Bringing forward funding, just extraordinary, sir. And I take my hat off to you and to JP. Absolute legend, mate. It’s been wonderful working with you and looking forward to working with you in the future. This is the last piece in the puzzle. With the agreement that we’ve just signed, it means that every public school in the country will now be fully funded. And that has never ever happened before. It should have, but it hasn’t. Now it will be and it will change kids’ lives. This is the biggest investment by the Commonwealth Government in public schools ever. As the Prime Minister said, it’s worth about $16.5 billion over the next decade. But it’s not a blank cheque. This money is tied to real and practical reforms to help children who fall behind to catch up and keep up. Ultimately help more young people finish high school. It’s bigger than that. It’s about helping to make sure that every child gets a great start in life. It’s what every mum and dad wants for their child and it’s what every Australian child deserves. You know, we know that a good education can change a life and a good education system can change a country. If you think back to the 1980s, to the 1990s, when some of us were at school, the number of kids finishing high school skyrocketed. It went from about 40% of kids to almost 80%. That changed us as a country. Now, in the last 10 years, that percentage has gone backwards. It’s dropped from about 83% to 73%. And that’s happening in public schools. We’ve got to turn that around. Fundamentally, that’s what this is all about, making sure that more young people finish school. It’s more important today than it was when we were at school. This is building Australia’s future in action. This is real microeconomic reform. If we’re going to build the country of our imagination, then we need people to build it. We’ve got to build the skills of the workforce today and tomorrow. We’ve got to make sure that more young people finish school and then go on to TAFE or to university and can build the career of their dreams. And that’s what this is about. And Albo, as a kid from public school I just want to say thank you from the bottom of my heart. This is going to change the lives of kids at school today, kids that go to school tomorrow, children that aren’t even born yet. It’s going to make our education system better and it’s going to make us an even better and fairer country.
     
    JOHN-PAUL LANGBROEK, QUEENSLAND MINISTER FOR EDUCATION: Thanks, Jason. Well, can I also say as a returning education minister, hopefully this marks the end of the education wars because over a decade ago when I was Minister for Education, Training and Employment in a former government, was when we had the Gonski report and we had this constant debate about special needs in terms of what the states had. And as the Premier has mentioned, Queensland does have more of those areas of needs, whether it’s disability, Indigenous, socioeconomic status, small, regional, remote. Queensland has more than any other. And if we’re going to have league tables about schools, then no wonder Queensland’s had trouble competing. But this agreement today really does mean a big change for Queensland. It’s something I’m personally very appreciative of. I want to thank Jason as well for, he and I have had numerous conversations over the last four to five months. First of all we had to do a one year deal and after 10 years of declining investment or the former government in Queensland not putting enough funding in it means that now as a result of this agreement we’re reaching 75% in Queensland, four years ahead of the previous agreement or what the intended time was going to be. So, I want to thank the Premier and the Prime Minister as well. It’s been protracted negotiations but importantly for Queensland schools and I’m also state school educated, something I’m very proud of for in my family that’s made a big difference to my life and I know it will continue for other Queensland students. This is going to have a real impact in Queensland in education and across the country.
     
    PRIME MINISTER: Thanks JP. Happy to take questions.
     
    JOURNALIST: Has there been deals, arrangements locked in for how fast the states, all the states are going to lift their funding amounts and this announcement today that you said $2.8 billion just for Queensland, your Finance Minister’s announced $2.1 billion of savings in the budget. Is this baking in more spending?
     
    PRIME MINISTER: No, because we accounted for most of this investment is already in MYEFO. There will be some additional investment given to Queensland that will be accounted for in the pre-election fiscal outlook. This is an investment in our young Australians. I can’t think of anything that is more worthwhile than investing in the opportunity of a young Australian and this will make an enormous difference. It has been spoken about for a long period of time, as JP said, people spoke about, the Gonski review occurred under the former Labor government. We then had in 2014 budget $30 billion ripped out of education. Since then we’ve seen school completions decline from 83% to 73%. We need to, in public schools overwhelmingly, we need to make sure that we compete not on the basis of driving down wages but we compete on the basis of how smart we are. And what this is is seizing opportunities. And Queensland does have particular challenges because it is the most regional of states and we’ve worked through all of these issues constructively but we have fully funded all of these agreements will be there. We’ve gone through our ERC processes, the Premier has been through his. But I’ll ask the Premier to comment.
     
    PREMIER CRISAFULLI: That’s a very good question. As part of this deal we have had to bring forward some funding at a Queensland level as well to secure the deal. But so we should. We’ve under invested in public education as a state for too long and this was an opportunity too good to miss. It was an opportunity to bring two levels of government together. But ultimately it’s about kids, ultimately it’s about can we get an outcome for children. And at the moment, when I look at Queensland’s education standards over many years it hasn’t been what it should be. And that’s not because of the kids, it’s not because of the teachers, it’s because of the broken system. And today we start putting together that broken system and outlining a funding pathway but also driving results. And that’s good news for everyone.
     
    JOURNALIST: Just on the schools funding now that all the states and territories have kind of signed on, what will this mean for the educational divide going forward? Because for every public school that still has demountables with air conditioning that doesn’t work, there’s private schools that are spending millions of dollars for performing arts venues with orchestra pits or multi-million dollar swimming pool centres like how will this lessen that educational divide that will be going on?
     
    PRIME MINISTER: What we want to make sure is that every parent, when they make a decision which is up to them of where their child goes to school, that they can have confidence that that child will receive the level of support that they deserve. It also is about making sure that children don’t get left behind. What we know from the testing that occurs is that if you wait until a child reaches the middle of primary school, it’s too late. Part of this agreement and the tying of this funding is for Year One testing, is making sure that if a young person needs that one on one help or small group help to make sure they’re not left behind, they get that really early on, they get to catch up, they don’t get to fall behind and then have issues later on. And so this is an investment that will pay off because we know that when people do fall behind, students, they can take forever or sometimes just don’t catch up. That’s what those figures of the decline in Year 12 completion shows. You know, the Hawke Government made the decision to lift very consciously the level of Year 12 completions from three out of ten to eight out of ten. What we’re doing as a Commonwealth, in partnership with Queensland and other states and territories, is making a conscious decision that children will not be left behind.
     
    JOURNALIST: A couple of years before you got the job, the Prime Minister and the premiers did a deal on the NDIS to try and bring it back under control. They offered the states, they extended the GST deal for another two years and guaranteed hospital funding, etc. Are you, is your state any closer to holding up your end of the deal and taking responsibility for foundational support?
     
    PREMIER CRISAFULLI: Well, of course we’ll continue to negotiate in good faith and I hope what today proves is that we will always negotiate in good faith, but we’ll always look for the best deal for Queensland. I don’t think that’s any surprise to the Prime Minister with, we negotiated hard, but in the end I think we’ve got a good outcome. Good outcome for Queensland and a good outcome for Australia.
     
    PRIME MINISTER: Just here and then, Paul.
     
    JOURNALIST: Prime Minister, you’ve committed to legislate to protect salmon farming in Macquarie Harbour.
     
    PRIME MINISTER: Have we got anything else on the biggest schools announcement? Can we stick to if there are schools questions, if not happy to move on?
     
    JOURNALIST: A school of fish.
     
    PRIME MINISTER: Paul is always focused on the micro.
     
    JOURNALIST: So, salmon fishing, you’ve committed to legislate to protect it in Macquarie Harbour. How will that work and will that legislation have implications for environmental considerations in other industries?
     
    PRIME MINISTER: Well, what we know is that the environmental science tells us that the skate is at the same levels that it was back a decade ago. We responded to the science to provide certainty. My Government makes no apologies for supporting jobs. That’s what the Labor Party does. We support jobs, but we also support sustainability, which is why we’ve invested $37 million for sustainability, for oxygenation. That’s why we’re engaged as well in what has been a very successful breeding program as well.
     
    JOURNALIST: Some of your colleagues believe that you’ve got a sense of momentum, that you might call the election as soon as you can after this sitting period’s over, they want to head back to their electorates very quickly. Do you want to seize the moment you’re in and call the election as soon as you can after Thursday? And Premier, you’ve had some time to speak to Peter Dutton now that you’re in the job. Do you have any more confidence in his nuclear plan now that you’ve had a chance to look at it?
     
    PRIME MINISTER: Well, on the first, I’m told by my office that when we called this press conference, some thought we were about to call the election the day before the Budget. So, I say consistently, as I have said privately and publicly, three years is too short. I can now confirm the election will be in May. I’ve been saying that for a year. I was advised this time last year, in order to stop tax cuts going forward, that we should call an election. And I ignored that call by Mr Dutton and I continued to govern. We’ve got a Budget to hand down tomorrow night. It’s an important Budget that will set Australia up on the path to a better future. And I look forward to that. I look forward to some policy besides the three that have been announced. The nuclear plans, the $20,000 lunches and the cuts that we don’t know about, coming out sometime between now and May. But we’re very clear about what our agenda is. And it’s an agenda of governing. And what I’m doing today is governing, putting in place these important reforms.
     
    PREMIER CRISAFULLI: You won’t get running commentary from me about policies in Canberra, that’s for this guy and Peter to do. I don’t think Australians or Queenslanders or any of you will be too surprised with who I’m backing in the Federal Election. Of course I’m backing Peter – 

    JOURNALIST: It’s not contrary though, Premier (inaudible) reverse the ban on nuclear –
     
    PREMIER CRISAFULLI: But it is, it is because I’m – no, it is because I’m here signing the biggest education deal in my state’s history and that’s pretty bloody important to me. And, you know, I’ll let others run political commentary. I’m here to talk about something that matters to parents in my state.
     
    JOURNALIST: On the Olympics stadiums there have been some major changes announced – thanks, Prime Minister – today, or major changes are due. Do you have a Plan B if you can’t renegotiate with the Prime Minister on moving funding away from Brisbane Live Arena to other venues?
     
    PREMIER CRISAFULLI: Well, firstly, it’s been 1430 days since Queensland was awarded the Olympic and Paralympic Games. I reckon if I told you and didn’t wait until tomorrow, I’d probably be in strife from my gallery. But look, we’ve got a plan and it’s a plan to make sure that we do deliver generational infrastructure. And it’s a plan to make sure that we do host great Games when the eyes of the world are on us. And I want people to understand that we – yes, there’s been a long time since we were awarded the Games, but I do believe we’ve got a plan that can get the show back on the road.
     
    JOURNALIST: Premier, have you raised the Olympics in discussions with the Prime Minister?
     
    PREMIER CRISAFULLI: I reckon we’ve spoken a lot about it, but we’ve negotiated well together. I think that’s fair. We’ve worked together well and that’s always my style. I’m on Team Queensland. Of course, there’s been some strong negotiations. Two people of Italian descent, you’d expect that. But there’s nothing that can’t be solved over a bit of common sense and a cannoli. Two cannolis, and I bought both of them.
     
    PRIME MINISTER: And I can confirm that the Premier has, on two occasions, given me cannolis and I haven’t declared them. So, I declare them now just in case I get into some trouble.
     
    PREMIER CRISAFULLI: They were good cannolis.
     
    PRIME MINISTER: We regard that as a cultural thing rather than anything else. And they’re fine cannolis, I’ve got to say. We’re going to go: 1, 2, 3, 4, and then we’re done. Oh, 5 – just got in.
     
    JOURNALIST: Prime Minister a question for you and one for the Premier. Peter Dutton yesterday described your energy rebate extension as a Ponzi scheme. His Shadow Treasurer said it was putting a band aid on a bullet wound, yet they’re supporting it. I’m just wondering what your view is of that. And, Premier, can you tell us, are you going to break your election promise tomorrow about no new venues?
     
    PRIME MINISTER: On the first, it says something about the Coalition – I’m trying not to be too partisan here, standing next to the Premier –
     
    PREMIER CRISAFULLI: I’m out of the shot.
     
    PRIME MINISTER: But whether it’s our Medicare tripling of the bulk billing incentive for all 21 million Australians, the 50 new Urgent Care Clinics, the $25 for medicines on the Pharmaceutical Benefits Scheme, the freezing of the beer excise for two years, or a range of other measures – including the extension of Energy Bill Relief – the Opposition, having opposed all of these things for almost three years, have just said yes. I guess they’ve got to have something to say about policy and they don’t have any of their own. So, that has been their fallback position. But I think that Australians will have a look at their rhetoric and show that their heart isn’t in it. And in the rhetoric that they use, attacking this means that it can’t be secure. The last time round there was an election where the Coalition formed government was in 2013. They said there’d be no cuts to education, no cuts to health. The 2014 Budget had $50 billion cut from hospitals and $30 billion cut from education. And we’ve been playing catch up ever since. And in part, that’s what today’s announcement is about.
     
    PREMIER CRISAFULLI: Well, one day to go, Mark, one day to go. One thing’s for certain, though, is we set about a process to make sure that we could get that show back on the road. And I think even the most, even the most objective person – even the most partisan person – looking at where we are at the moment, would acknowledge that it’s been three years of chaos and crisis since we were awarded the Games. And I’m a big believer when you make decisions, you put the information out. I’ve done that throughout my career and I’ve certainly done it in recent times dealing with the disasters. I have this view that if you provide the information and the reasons behind your decision, whatever those decisions are, I think overwhelmingly people will respect where we’re going. And tomorrow we will outline a plan to make sure that we can deliver generational infrastructure for every square inch of the state. And I think it’s an exciting time and I want Queenslanders to believe that we can deliver something when the eyes of the world are on us that makes us feel proud to be Queenslanders.
     
    JOURNALIST: Prime Minister, yesterday your Treasurer said it remains to be seen when the next surplus will be delivered. Do you hope another surplus will be delivered during your Prime Ministership? And Premier, when the GST cover was recently announced by the Commonwealth Grants Commission, your Treasurer, David Janetzki, was quite critical of the funding that had been announced for Queensland under that deal. Was the GST arrangements subject to discussions today?
     
    PRIME MINISTER: You’ll see the Budget and all the figures tomorrow night. Not long to wait now. One more sleep.
     
    PREMIER CRISAFULLI: We don’t believe it was a good decision. We acknowledge how it was made, we acknowledge the framework behind it. But we, you know, I wouldn’t be doing my job if I didn’t tell you all today that we’re going to continue to work pretty hard to make sure that some of that infrastructure funding is excised from the GST. I think that’s fair and proper, particularly with the Bruce Highway. We were very, very pleased with the announcement on the Bruce, but it is a national road and it is, in my mind is something that should be excise from that GST agreement. We’ll continue to negotiate in good faith. And then there’s that little matter of the flood mitigation on the Bruce Highway as well, which I might go and try and get his signature before I fly back to Brissie.
     
    JOURNALIST: PM, Donald Trump’s reciprocal tariffs are due to start from April 2. Is the Budget in such a position that it can withstand any economic turmoil that will come out of that? And where is Australia’s negotiations up to with the Administration about changes or excisions of Australia’s trade markets into the US under those reciprocal tariffs?
     
    PRIME MINISTER: Look, we continue to engage constructively with the Trump Administration. We were engaged over the weekend again in some of those discussions that have taken place. My Ministers are engaged, our people in the United States are engaged as well. We’re advancing Australia’s national interest, as you would expect.
     
    JOURNALIST: Prime Minister, David Littleproud says we need more gas in the market, he seems to be suggesting they’re going to water down the safeguard mechanism. Do you agree with the proposition we need more gas in the market and what would you be doing to resolve that? And for the Premier, is there enough being done to get the gas out of Queensland’s south?
     
    PRIME MINISTER: On the former, we’ve announced and delivered publicly released our future gas strategy. That’s a strategy that understands that gas has an important role to play, along with batteries, in providing certainty. I was in Gladstone in the great State of Queensland just last week with Rio Tinto there, at the refinery producing fantastic alumina, aluminium there. And they employ many people, and one of the things that they’ve done is to shift to renewables but they have firming capacity there as well. That’s part of the transition that’s important. The former government had this big announcement when they were there about gas, a gas led recovery. Not much happened. Not much happened. You don’t need rhetoric. What you need is actually investment. What the safeguard mechanism does, like the Capacity Investment Scheme, is to provide certainty for the investment environment for business, which is why business backed the safeguard mechanism.
     
    PREMIER CRISAFULLI: I haven’t seen what David Littleproud said, but if he’s talking about the need for more gas in the market, he’s 100 per cent correct. And have a look at across the states. Queensland, over a long period of time, we’ve done the heavy lifting, we’ve done our end of the bargain, and some of the safeguards that were put in place a little over the decade ago has ensured that communities that were once trod on have now embraced it. And overwhelmingly, it’s been great not just for our economy, but it’s also been great for regional communities to have a sense of identity. It’s been great for meeting the market that’s there. I would argue that other states probably haven’t come on the same journey that we have. And I think if you point to Queensland as an example, that it can be done, it can be done. You can protect the environment, you can treat local communities with respect, you can create some jobs, you can earn a living. It is absolutely possible.
     
    PRIME MINISTER: Last one.
     
    JOURNALIST: Australian doctor Mohammed Mustafa is in Gaza right now. He says he told SBS the situation is catastrophic. He’s asking for urgent assistance. What is your Government actively doing now that Israel has broken the ceasefire?
     
    PRIME MINISTER: Well, we have maintained our same position, which is we want to see the ceasefire be continued. We want an end to hostilities, we want to see hostages released. We want to see peace and security in the Middle East. Something that my Government is very focused on. We will remain focused on. But we’re not major players in the Middle East. That’s just the truth of the matter. And so, we remain incredibly concerned about the innocent loss of life that we’ve seen since October 7, whether that be in Israel or whether it be in Gaza. Surely people have a look at that innocent loss of life, including children and people who have done nothing wrong but be in the wrong place at the wrong time. They deserve protection. And I want to see that occur, as I’m sure most people who have a look at what is occurring, including whether it be people in Gaza or indeed people in Israel who are saying that as well. Thanks very much, thank you.

    MIL OSI News –

  • MIL-OSI Australia: Investigation team calling for information about former police officer

    Source: New South Wales Community and Justice

    Investigation team calling for information about former police officer

    Monday, 24 March 2025 – 1:08 pm.

    As was announced on 26 February, Tasmania Police is conducting an investigation into former police officer Dale Cook, who has been charged with allegedly accessing child exploitation material.
    Acting Commissioner Jonathan Higgins said the investigation is examining Cook’s entire career to determine whether he used his position as a police officer to commit child sexual abuse crimes or any other criminal offending and identify any misconduct during his employment with Tasmania Police.
    “The investigation has independent oversight by the Integrity Commission and is being run concurrently with the criminal case he is currently facing charges over,” Acting Commissioner Higgins said.
    “We strongly encourage anyone with information to come forward, as every piece of information, no matter how small, can be key to the outcome of an investigation.”
    “The investigators would like to hear from anyone with information by 5 May 2025, however information after this time will of course still be examined.”
    “The specialist investigation team recognises the need to offer choice and confidentiality to anyone wanting to provide information.”
    There are several ways information can be provided to investigators.
    This includes:

    Sending a direct email to the investigation team at cookinvestigation@police.tas.gov.au
    Submitting an online form which allows you the option or remaining anonymous, or providing your details if you are willing to be contacted.
    Submitting a report to the Tasmania Police Professional Standards online portal.
    If you would like to meet in person, contact the investigation team at cookinvestigation@police.tas.gov.au and they will arrange this at a time and place that ensures confidentiality.

    “An important part of the investigation is also receiving any relevant information from people who have previously been in the workplace with Dale Cook, and our staff are being contacted to facilitate this.”

    MIL OSI News –

  • MIL-OSI New Zealand: New Zealand & India Comprehensive FTA consultation begins

    Source: New Zealand Government

    Trade and Investment Minister Todd McClay has today launched a public consultation on New Zealand and India’s negotiations of a formal comprehensive Free Trade Agreement.
    “Negotiations are getting underway, and the Public’s views will better inform us in the early parts of this important negotiation,” Mr McClay says.
    We are offering all interested New Zealanders, including businesses, NGOs, and members of the public the opportunity to make a submission prior to 15 April 2025. 
    With a population of 1.4 billion people and on track to become the world’s third-largest economy by 2030, India holds significant potential for New Zealand and will play a pivotal role in the Government’s goal to double New Zealand’s exports by value over the next ten years. 
    Alongside trade agreement negotiations, New Zealand will continue to invest in stronger, deeper, more sustainable connections with India across all pillars of the relationship, including our political, defence and security, sporting, environmental, and people-to-people connections.
    For more information, including on how you can make a submission, please share your views at  https://www.mfat.govt.nz/have-your-say before 15 April 2025.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: (WIP) High Court says no to travelling Group Costs Orders

    Source: Allens Insights (legal sector)

    Impact on class action landscape: Victoria’s magnet effect 7 min read

    In the first of a string of upcoming decisions about the class action landscape, the High Court of Australia handed down judgment in Bogan v Smedley on 12 March 2025.1 The Court held that a group costs order (GCO) made in a class action commenced in the Supreme Court of Victoria could not travel to the Supreme Court of New South Wales and that, consequently, neither could the proceeding.

    Key takeaways 

    Background

    The legislative regime

    Group costs orders

    In every state and territory across Australia, legislation prohibits a law practice from charging contingency fees. Since July 2020, however, Victorian legislation has contained an exception for GCOs—orders allowing the representatives of plaintiffs in a class action to recover as costs a specified percentage of any award or settlement obtained in the proceeding.

    To make a GCO, the Supreme Court of Victoria must be satisfied that it is ‘appropriate or necessary to ensure that justice is done in the proceeding’.2

    Transfer of proceedings

    At the heart of this proceeding was s1337H(2) of the Corporations Act 2001 (Cth), which allows a court to transfer a proceeding to another court if it appears to the first court that, ‘having regard to the interests of justice’, it is more appropriate for the second court to determine the matter.

    Notably, this provision only applies to a proceeding with respect to a civil matter arising under, relevantly, the Corporations Act or the Australian Securities and Investments Commission Act 2001 (Cth) (ASIC Act).

    The Arrium proceeding

    On 14 August 2020, a class action was commenced in the Supreme Court of Victoria against the directors of Arrium Ltd (Arrium) and its auditor, alleging contraventions of the Corporations Act, the ASIC Act and the Australian Consumer Law. There was evidence that the proceeding was originally intended to be filed in the Supreme Court of New South Wales, where Arrium had its principal place of business and where the relevant events had largely taken place. The High Court inferred that the ultimate choice to file in Victoria rather than NSW was to take advantage of the availability of GCOs.

    The plaintiffs applied for a GCO on 2 February 2021. On 26 February 2021, one of the defendants applied to transfer the proceeding to the Supreme Court of New South Wales.

    The Supreme Court of Victoria made orders that the GCO application be determined first, before the transfer application. As noted by the High Court, no objection was taken to that order at the time. A GCO was then made in favour of the plaintiffs’ solicitors entitling them to 40% of any award or settlement (the Arrium GCO).

    The transfer application was not ultimately dealt with by the Supreme Court of Victoria. Instead, three questions arising on that application were removed to the Victorian Court of Appeal:

    1. whether the Arrium GCO would remain in force if the proceeding were transferred to the Supreme Court of New South Wales;
    2. if not, whether the absence of the Arrium GCO in the Supreme Court of New South Wales was a relevant factor to the transfer application; and
    3. whether the proceeding should be transferred.

    Decision of the Victorian Court of Appeal

    In respect of those questions, the Victorian Court of Appeal unanimously held that:

    1. the Arrium GCO would not remain in force if the proceeding were transferred to the Supreme Court of New South Wales;
    2. this was relevant to (and decisive of) the transfer application; and
    3. the proceeding should not be transferred.

    The same questions were subsequently removed to the High Court for determination.

    Summary of findings

    A majority of the High Court (Chief Justice Gageler, Justices Gordon, Gleeson, Jagot and Beech-Jones ) and Justice Edelman (in separate reasons) reached the same conclusion on each question as the Court of Appeal. Justice Steward disagreed on the second question, holding that the availability or not of a GCO in the Supreme Court of New South Wales was not relevant to the transfer application.

    Would the Arrium GCO remain in force in NSW?

    The parties agreed that the Supreme Court of New South Wales had no power to make an order in the nature of the Arrium GCO. The issue for the High Court instead turned on whether a provision of the Corporations Act would give legal force to the Arrium GCO if the proceeding were transferred.

    The High Court held that it would not. To the contrary, the provision could only apply if the Supreme Court of New South Wales had power to make an order providing for at least ‘similar steps’ to the Arrium GCO. The parties agreed it did not have that power and, accordingly, the Arrium GCO could not be carried into NSW. 

    Was the absence of the Arrium GCO relevant to the transfer application?

    The majority held that the absence of the Arrium GCO could not be ignored in considering whether transfer to NSW was in ‘the interests of justice’. Importantly, it was agreed between the parties that there was not a realistic prospect of alternative funding being obtained in the absence of the Arrium GCO. In this regard the majority stated that the capacity of the plaintiffs and class members to obtain access to justice ‘bear[s] vitally’ on the interests of justice,4 a sentiment echoed by Justice Edelman.5 In the views of the majority and Justice Edelman, these matters were decisive of the transfer application because, on the facts of the case, there was a ‘considerable risk’ that the proceeding would not be able to continue without the GCO.6

    By contrast, Justice Steward held that the Arrium GCO was not relevant to, and so not determinative of, the transfer application. His Honour disagreed with the majority on the basis that a GCO offers a plaintiff an advantage (a way of ensuring the financial viability of a proceeding) and imposes on a defendant a corresponding disadvantage (being subjected to a proceeding which would not be viable in any other jurisdiction). To consider the Arrium GCO a relevant factor would, in his Honour’s view, be for the court to ‘play favourites’.7 As his Honour noted, NSW did not cease to be a place where the plaintiffs could obtain justice merely because Victoria introduced laws introducing an exception to an otherwise national ban on contingency fees, and nor did those laws mean NSW was not a suitable forum in which to litigate class actions.

    Will a GCO always anchor proceedings to Victoria?

    The majority also noted that common factors bear on the determination of GCO applications and transfer applications. As noted above, the former involves consideration of whether the GCO is appropriate or necessary to ensure that justice is done, while the latter involves an inquiry into ‘the interests of justice’. While the High Court stopped short of articulating a general rule, its reasoning suggests that where a GCO has been made (because the court is satisfied that it is appropriate or necessary to ensure that justice is done), that will tend in favour of it being in the interests of justice that the proceeding remains in Victoria.

    Looking ahead

    One route not taken by the parties in this case was to challenge the sequence in which the Supreme Court of Victoria dealt with the GCO and transfer applications. If the transfer application was heard before the making of the GCO, the transfer application would have been decided by reference only to the connections the proceeding had to Victoria and NSW respectively. It remains to be seen what the attitude of the courts will be to that kind of challenge, however, it may be one strategy open to parties faced with similar circumstances in future.

    The majority’s reasoning also suggests a potential shift in the High Court’s approach to considering factors relevant to the ‘interests of justice’ and similar assessments. The High Court previously held that whether an action can proceed is not relevant to that inquiry.8 By contrast, in Bogan v Smedley, the majority and Justice Edelman held that whether the action could proceed was relevant to an inquiry into whether the transfer was ‘in the interests of justice’. As further matters come before the High Court which require a similar analysis, it will be interesting to monitor the extent to which the Court considers the survival of a proceeding to be relevant to ‘ensuring justice is done’.

    MIL OSI News –

  • MIL-OSI China: Consumption, innovation offering economic momentum

    Source: China State Council Information Office

    Chinese Premier Li Qiang attends the opening ceremony of the China Development Forum 2025 and delivers a keynote speech, in Beijing, capital of China, March 23, 2025. [Photo/Xinhua]

    China’s economic transition is gaining momentum as initiatives to boost consumption and drive innovation take center stage, which will inject greater certainty into the global economic landscape and provide broader space in which multinational companies can thrive, officials and executives said on Sunday.

    China will combine robust policy support and the unleashing of market forces as it strives to achieve its economic growth target of around 5 percent this year, and policymakers are well prepared to introduce new incremental policies if necessary, Premier Li Qiang said in Beijing at the opening ceremony of the two-day China Development Forum 2025.

    The recent dynamism observed in China’s consumer market, particularly in the film, winter sports and cultural tourism sectors, has pointed to the vast potential of the country’s domestic economic circulation, Li said.

    The theme of this year’s forum is “Unleashing Development Momentum for Stable Growth of the Global Economy”.

    Han Wenxiu, executive deputy director of the Office of the Central Commission for Financial and Economic Affairs, said that China is set to enhance people’s consumption capacity, to ensure they have the financial means and the willingness to consume. These initiatives go beyond merely promoting economic growth and productivity, he said.

    The initiatives also seek to increase the income of urban and rural residents, optimize the income distribution structure and elevate the share of household income in overall national income, Han said.

    Liu Shijin, former deputy director of the Development Research Center of the State Council, noted that “China faces a critical transition from an investment- and export-driven growth model to one fueled by innovation and consumption”.

    “While structural imbalances in consumption present major challenges, resolving them could unlock growth potential comparable to that once provided by the real estate sector. This transformation would establish a foundation for sustained medium-speed economic growth, ensuring stability for China’s economy in the years ahead,” Liu said.

    Premier Li stressed at the forum that the continuous emergence of technological advancements by Chinese tech startups such as DeepSeek and Unitree Robotics has showcased the country’s immense capability for innovation and creativity.

    Minister of Finance Lan Fo’an, said that this year, China will scale up its funding to the sci-tech sector to expedite breakthroughs in critical and core technologies, stressing that a variety of policy tools will be used, including tax incentives and investment funds, to drive the “AI Plus” initiative and foster the growth of emerging and future industries.

    Policymakers are committed to implementing measures that promote the development of the private sector, providing tangible assistance to enterprises, so that they can innovate and thrive, Lan said.

    Executives attending the forum said that amid the growing uncertainties in the global economy marked by rising protectionism, it is more important than ever for nations to open up their markets and for businesses to pool their resources, in order to jointly tackle challenges and achieve shared growth.

    “We expect China to remain an engine for global growth in 2025 and across this decade,” said Georges Elhedery, group chief executive of HSBC Holdings, adding that he is confident that in the long run, China will remain a thriving, sustainable economy at the heart of global trade and investment and at the forefront of innovation.

    Cristiano Amon, president and CEO of Qualcomm, told China Daily that he was excited by the innovation from DeepSeek, a Chinese artificial intelligence startup.

    “Our Chinese partners are very excited at embracing AI, and Qualcomm will expand our cooperation with them in the future,” Amon said, adding that he believes technology will play an important role in spurring economic growth.

    Li Lecheng, Party secretary of the Ministry of Industry and Information Technology, said that China has become the world’s second-largest contributor to the global open-source community and the fastest-growing country in this field.

    An open-source community is a collective of users, developers and contributors centered around a project in which the source code is freely available for modification and redistribution.

    “We will support foreign-funded enterprises to establish research and development centers in China, and to further promote innovation and entrepreneurship in the country,” Li Lecheng said.

    More efforts will be made to facilitate the translation of scientific and technological progress into practical applications, he said, adding that the country also encourages foreign enterprises to participate in such initiatives.

    Pascal Soriot, CEO of AstraZeneca, said the strong signals from this year’s Government Work Report, which reaffirmed China’s commitment to science, innovation and opening-up, are highly encouraging.

    “We have been investing in science and innovation for many years in China, and we plan to invest even more in the future,” Soriot said.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Union Minister Shri Manohar Lal Reviews Progress of Urban Development on his visit to Odisha

    Source: Government of India

    Posted On: 23 MAR 2025 5:47PM by PIB Delhi

    Union Minister for Housing & Urban Affairs and Power, Government of India,Shri Manohar Lal reviewed the implementation and progress of key urban development initiatives and infrastructure projects.

    Highlighting the potential of Odisha’s urban centers, the Minister emphasized the need to develop Bhubaneswar, Cuttack, Puri, and Khordha as Growth Hubs to drive regional economic development. The focus will be on improving infrastructure, encouraging industrial and commercial growth, and promoting sustainable urbanization through strategic planning and public-private partnerships.

    A major point of discussion was the proposal for developing a new city as part of the Greater Bhubaneswar area. The Hon’ble Minister assured support for the project and advised the State Government to explore funding opportunities under the 15th Finance Commission and the Urban Challenge Fund.

    To promote sustainable urban mobility, the Central Government has approved the deployment of 400 electric buses for Odisha under the Pradhan Mantri e-Bus Sewa Scheme. The Minister also reviewed the proposed Bhubaneswar Metro project and reaffirmed full support from the Ministry of Housing & Urban Affairs to address the city’s growing public transport needs.

    In a key housing initiative, Bhubaneswar served as the launch site for the Pradhan Mantri Awas Yojana (PMAY). The proposal for 50,000 new houses under PMAY-Urban (PMAY-2) was discussed, and the Hon’ble Minister assured continued coordination with the State Government for its expeditious approval.

    The Minister lauded Odisha’s progress under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT), particularly in achieving milestones such as the 24×7 water supply project currently underway in 18 cities.

    Under the Swachh Bharat Mission 2.0, the state has shown commendable improvements in sanitation and waste management. The Hon’ble Minister directed the State to prioritize clearing legacy waste sites to reclaim land and create greener urban spaces.

    Further, the Hon’ble Minister emphasized intensified implementation of the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme, urging the State Government to ensure wider outreach and faster credit access for street vendors across Odisha.

    The visit reflects the Centre’s commitment to strengthening urban development and improving the quality of life for citizens through close cooperation with State Governments.

    ****

    SK

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: ‘India 2047: Building a Climate-Resilient Future’ Symposium concludes with a Strong Commitment to Action

    Source: Government of India

    ‘India 2047: Building a Climate-Resilient Future’ Symposium concludes with a Strong Commitment to Action

    Collaborative, Community-led Action Plans embedded across all levels of governance – need of the hour to develop Long-term Climate Adaptation Strategies: MoS Sh. Kirti Vardhan Singh

    Addressing Adaptation Finance is a critical pillar for mainstreaming adaptation in Climate Adaptation Actions, highlights MoS (MoEFCC)

    Posted On: 22 MAR 2025 6:23PM by PIB Delhi

    The ‘India 2047: Building a Climate-Resilient Future’ symposium concluded today at Bharat Mandapam, New Delhi, with a resounding call for sustained action, collaboration, and policy-driven climate adaptation and resilience.

    In his remarks during the valedictory session, Union Minister of State for Environment, Forest and Climate Change, Shri Kirti Vardhan Singh, highlighted India’s remarkable journey in confronting climate challenges. He emphasized the multidimensional nature of climate action, touching upon critical issues such as the impact of heatwaves and water scarcity on agriculture, the urgency of building resilient health systems, adaptation financing, and innovative solutions in the built environment. He called for comprehensive climate adaptation and resilience measures.

    The Minister outlined Critical Action Points that emerged from the symposium:

    • Stronger Institutional Frameworks: Climate adaptation must be embedded across all levels of governance, including at the local level.
    • Community-Driven Solutions: Policies should be tailored to ground realities, local needs and circumstances.
    • Immediate and Long-Term Action: While emergency interventions like heat relief programmes are vital, systemic changes in infrastructure, policy and financing are pertinent for long-term resilience. Addressing adaptation finance, is a critical pillar for mainstreaming adaptation in the short-term and long-term climate adaptation actions.
    • Collaborative Implementation: Policymakers, researchers, businesses, and communities must work together to scale up just and equitable climate adaptation strategies.

    Shri Singh mentioned that the collaboration between Ministry of Environment, Forest & Climate Change, Government of India and Harvard University represented by Lakshmi Mittal and Family South Asia Institute and The Salata Institute for Climate and Sustainability has been a unique opportunity to bring together experts and stakeholders facilitating exchange of ideas. He suggested that the lessons and recommendations from this Symposium be taken, as appropriate, to support India’s continued lead in addressing the Climate challenges of the 21st century.

    Over the past four days, the symposium served as a dynamic knowledge sharing platform for experts from diverse fields—including climate science, public health, labour, and urban planning—to deliberate on the urgent challenges posed by climate change and the pathways to a resilient future. The deliberations focused on four key themes: Climate Science of Heat and Water with its implications on Agriculture, Health, Work and the Built Environment.

    The climate adaptation in Agriculture requires evidence-based policies and decision-making. Emphasis was placed on localized governance and climate-resilient agricultural practices to improve food security and nutrition. Discussions suggested integrating scientific research with policy, long-term climate changes, water use trends, establishing local climate forums, stakeholder-centric metrics, and integrating AI in forecasting. Experts highlighted the need for communication among stakeholders, technological advancements, and balancing short-term and long-term adaptation strategies.

    The resilience in Health sector discussion focused on quantification of heat exposure and its impact on human health, emphasizing the need to improve data collection, correlation and consideration of local context, using the advancements in AI and machine learning. The deliberation also stressed the importance of strengthening climate-responsive public health systems, addressing the fragmented health data landscape, and promoting cross-sectoral collaboration. Emphasis was placed on multi-sectoral governance, suitable metrics, and training healthcare workers on climate-linked health risks, with a focus on leveraging existing programmes and engaging in multi-stakeholder collaboration for policymaking.

    Adaptation at Work is essential to address the heat-related stress and its impact on workers. The challenges faced by workers especially women were recognized and best practices in technical and behavioral adaptation, emphasizing health standards, occupational safety, safe civic spaces, etc. were highlighted.  The importance of government intervention, innovative financial solutions, and multi-stakeholder collaboration was underscored to enhance resilience in diverse geo-climatic conditions. The need for comprehensive strategies, considering local work culture and conditions, leveraging existing policies was emphasized to protect workers from climate-induced heat stress.

    The Built environment we live in, directly impacts our adaptation capacities. The experts in the sector emphasized a balanced approach to urban resilience, combining legal mandates with market-based incentives. The importance of addressing vulnerable populations, particularly in slum areas was highlighted, through local interventions and long-term planning. The success of urban planning policies depends not just on their design but also on operational feasibility, efficiency and cultural acceptance. The need for responsive urban planning frameworks, interdisciplinary collaboration, and action-oriented research was emphasized. There is a need to shift focus to thermal comfort for all.

    Professor Caroline Buckee from Harvard University emphasized the need for more granular data to identify those most at risk from climate impacts. She highlighted the challenges posed by India’s large health system and the importance of integrating health data across different sectors. Professor Buckee also stressed the value of timely censuses for accurate epidemiological estimates and the need for interdisciplinary approaches to address the complex interactions between climate change, health, and other sectors.

    Shri Tanmay Kumar, Secretary (MoEFCC), emphasized the importance of building local capacities to address climate impacts effectively. He highlighted the need for integrated approaches that consider the unique challenges faced by different regions and communities. He noted that adaptation strategies must be inclusive and community-driven, drawing on traditional knowledge and practices. He emphasized that climate resilience and sustainable development require continuous collaboration and commitment. He also reaffirmed that the Ministry remains committed to ensuring that climate resilience strategies are inclusive, sustainable and grounded in scientific evidence and also take into account the development aspirations.

    Prof. Tarun Khanna, Director (The Lakshmi Mittal and Family South Asia Institute, Harvard University), appreciated the collaboration and expressed his gratitude towards the Ministry and Harvard University represented by Lakshmi Mittal and Family South Asia Institute & The Salata Institute for Climate and Sustainability for bringing together leaders from across the field to collaboratively work on the leading challenge of our times. He highlighted the collaborative spirit and the diverse energies that came together to make this symposium a success.

    Shri Naresh Pal Gangwar, Additional Secretary (MoEFCC), expressed heartfelt gratitude to all distinguished speakers, experts, and panelists for sharing their knowledge and insights. He urged everyone to continue working with renewed focus and dedication, emphasizing the importance of collaboration and determination in addressing climate challenges.

    The symposium concluded with a strong message for continued dialogue, knowledge sharing and collaborative efforts. As India moves toward its centenary of independence, the outcomes of this symposium could contribute while shaping appropriate policies and measures for building a climate-resilient future for the nation.

    *****

    VM/GS

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: DGGI cracks down on offshore Online Money Gaming firms to curb tax evasion

    Source: Government of India

    DGGI cracks down on offshore Online Money Gaming firms to curb tax evasion

    DGGI blocks 357 websites/URLs of illegal/non-compliant offshore online money gaming entities

    In two other separate cases, DGGI collectively blocks nearly 2,400 bank accounts and freezes nearly Rs. 126 crore

    DGGI advises public to remain cautious and not engage with offshore online money gaming platforms

    Posted On: 22 MAR 2025 2:38PM by PIB Delhi

    The Directorate General of Goods and Services Tax Intelligence (DGGI) has intensified its enforcement actions against offshore online gaming entities. The online money gaming industry comprises both domestic and foreign operators.

    Under GST law, ‘Online Money Gaming’ , being actionable claim, is classified as a supply of ‘Goods’ and is subject to a 28% tax. Entities operating in this sector are required to register under GST.

    Around 700 offshore entities involved in the supply of online money gaming/betting/gambling are under DGGI’s scanner. It has been noticed that these entities are evading GST by failing to register, concealing taxable pay-ins, and bypassing tax obligations. So far, 357 websites/URLs of illegal/non-compliant offshore online money gaming entities have been blocked by the DGGI, in coordination with Ministry of Electronics and Information Technology (MeitY), under Section 69 of IT Act, 2000.

    In a recent operation against some of the illegal gaming platforms, DGGI targeted and blocked bank accounts that were being used to collect money from participants, attaching nearly 2,000 bank accounts and Rs. 4 crore, in coordination with the I4C and the National Payments Corporation of India (NPCI). In another action, 392 bank accounts linked to UPI IDs found on websites of some of these offshore entities have been put on debit freeze and sum totalling Rs. 122.05 crore has been provisionally attached in these accounts.

    Another operation against a few Indian nationals, who were running Online Money Gaming Platforms from outside India, was conducted by DGGI. It revealed that these individuals were facilitating online money gaming to Indian customers through various such online platforms including Satguru Online Money Gaming Platform, Mahakaal Online Money Gaming Platform and Abhi247 Online Money Gaming Platform and are using mule bank accounts to collect money from Indian customers. DGGI has so far blocked 166 mule accounts linked with these platforms. Three such persons have been arrested till now and investigation against more such individuals is under progress.

    Non-compliance by foreign entities distorts fair competition, harms local businesses, and skews the market. These unscrupulous foreign entities circumvent restrictions by creating new web addresses. Investigations also revealed that these companies operated through ‘mule’ bank accounts to process transactions. Funds collected through mule accounts leave the potential to be funneled into illicit activities which may also be dangerous for the  national security point of view.

    It has been observed that many Bollywood celebrities and cricketers along with YouTube, WhatsApp, and Instagram influencers, are found endorsing these platforms, and therefore the public is advised to remain cautious and not engage with offshore online money gaming platforms as it may jeopardise their personal finances and indirectly support activities that undermine financial integrity and national security.

    DGGI remains committed to proactively tackle the menace of illegal offshore gaming entities. With the upcoming IPL season, enforcement actions will be more stringent to curb illicit gaming operations. Staying informed and choosing regulated platforms is crucial for responsible gaming.

    ****

    NB/KMN

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    MIL OSI Asia Pacific News –

  • MIL-OSI Australia: Canberra Sport and Recreation Clubs share $3.2 million investment

    Source: Northern Territory Police and Fire Services

    As part of ACT Government’s ‘One Government, One Voice’ program, we are transitioning this website across to our . You can access everything you need through this website while it’s happening.

    Released 24/03/2025

    Canberra sporting and recreation clubs will share over $3.2million in funding through the latest round of the ACT Government’s Sport and Recreation Investment Scheme.

    Four funding options are available through the Scheme including:

    • The Community Sport Facilities Funding Program supports the development of new high quality, sustainable facilities, or the upgrade of existing facilities, to maintain or increase physical activity in the Canberra community.
    • The Club Enhancement Program assists sporting and recreation groups to further develop their local services and programs including purchasing equipment, upskilling coaches and officials or supporting improvements to club governance.
    • The State Organisation Support Program provides funding through 3-year agreements to be used for improving organisational capacity and capability.
    • The Industry Partnership Program allows the ACT Government to co-invest with State Sporting Organisations, in innovative and collaborative projects which are scalable and sustainable.

    Minister for Sport and Recreation, Yvette Berry says this investment in Canberra’s sport and recreation organisations enables much needed improvements and upgrades allowing for increased participation and inclusiveness.

    “The Scheme supports not-for-profit sport, recreation and community organisations in developing fit for purpose, sustainable and accessible places and spaces for sport and active recreation.

    “Through this round, among the 38 successful applicants, the ACT Water Ski Association will receive $190,000 to upgrade the Water Ski Clubhouse facilities, including a refurbishment of the kitchen and bathrooms to create a more welcoming and inclusive environment for members.

    “Tuggeranong BMX Club will be able to replace the BMX start gate with $47,000 of funding through the scheme.

    “The Belconnen Netball Association were successful in obtaining $571,000 in support to construct a new female and male toilet and change facilities, a full accessible toilet with shower and enhanced storage space.

    “The Sport and Recreation Investment Scheme supports the ambition of the ACT Government’s CBR Next Move strategy by investing in facilities for greater participation in sport and recreation.

    “Maintaining our sporting facilities is essential to ensure that the community can continue to participate in the sporting and recreation activities that they love, promoting a healthy lifestyle throughout the Canberra community.”

    Quote attributable to Kim Clarke, President of Belconnen Netball Association.

    “We are delighted to receive this investment from the ACT Government to upgrade our off-court facilities at Charnwood to ensure they are a more welcoming and inclusive environment for all our participants and supporters. Our current toilet and storage facilities are not suitable to cater for up to 2000 users on competition days and this support will ensure a safe, accessible and welcoming environment for everyone to play and attend our netball activities and competitions.”

    Quote attributable to Maria Cowan, President of ACT Waterski Tournament Division.

    “On behalf of Waterski ACT we are incredibly excited to be a successful recipient of an investment from the ACT Government for our clubhouse facilities including the kitchen and bathrooms at Molonglo Reach. The project is essential to rectify the current outdated facilities particularly in relation to acceptable standards for female facilities and disabled access.”

    Quote attributable to Paul Stewart, President of Tuggeranong BMX Club.

    “The new starting gate will significantly improve the sporting experience and safety of our club members particularly children and beginners. We are very thankful to the ACT Government for this support to ensure this important improvement is made at our club for all our participants.”

    For more information visit the Sport and Recreation website at www.sport.act.gov.au/grants.

    – Statement ends –

    Yvette Berry, MLA | Media Releases

    «ACT Government Media Releases | «Minister Media Releases

    MIL OSI News –

  • MIL-OSI Australia: Murder Investigation Underway

    Source: New South Wales Community and Justice

    Murder Investigation Underway

    Saturday, 22 March 2025 – 2:49 pm.

    Police are continuing to investigate the circumstances of an incident at Dickson Street, Glenorchy on 11 March where a man sustained a serious head injury.
    “Sadly, police can advise the man has died earlier today in the Royal Hobart Hospital, and our thoughts are with the young man’s family and friends,” said Detective Acting Inspector Nicholas Bowden, from Glenorchy CIB.
    The police investigation is now a murder inquiry.
    Emergency services were called to the scene about 11.30pm on 11 March, arriving to find a 19-year-old man unconscious and non-responsive outside a property.
    “The young man has received a stab wound to the head.  A police investigation is ongoing into the circumstances surrounding this incident,” he said.
    “Detectives are following a specific line of inquiry.  Investigations indicate that the person or people responsible and the victim knew each other, and that this was an isolated incident.
    “If anyone has any information in relation about this matter, I ask them to come forward.
    “In particular, if anyone saw a small four door sedan, possibly silver in colour, with several occupants, in the area of Dickson Street at the time, please contact Police.  We are particularly interested in dash cam or other CCTV vision.”
    Information can be provided to direct to Glenorchy CIB on 131 444 or anonymously through Crime Stoppers Tasmania at crimestopperstas.com.au or on 1800 333 000 – quote OR769213.

    MIL OSI News –

  • MIL-OSI Africa: Home Affairs, SIU to launch anti-corruption forum in border management

    Source: South Africa News Agency

    Sunday, March 23, 2025

    The Minister of Home Affairs, Dr Leon Schreiber, and the Head of the Special Investigating Unit (SIU), Advocate Andy Mothibi, will launch the Border Management and Immigration Anti-Corruption Forum (BMIACF) in Pretoria on Tuesday, 25 March 2025.

    According to the statement released on Sunday, this initiative forms a key 
    part of the intensified and coordinated effort to clamp down on corruption in this sector.

    Leaders from the Department of Home Affairs, Border Management Authority (BMA), the National
    Prosecuting Authority (NPA) and civil society organisations will attend the launch.

    “This significant event will bring together key stakeholders from government, civil society, and law enforcement agencies to discuss strategies for combating corruption in border management and immigration.”

    The launch of the BMIACF will take place at the Government Communication and Information System (GCIS) auditorium. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI New Zealand: Northland News – FEEDBACK CLOSING SOON ON MARSDEN MARITIME HOLDINGS, NORTHPORT PROPOSAL

    Source: Northland Regional Council

    FEEDBACK CLOSING SOON ON MARSDEN MARITIME HOLDINGS, NORTHPORT PROPOSAL
    Time is running out to have your say on a proposal that would see the ownership structure of Marsden Maritime Holdings (MMH) and Northport simplified, to set the region’s port up for the future.
    Together with investment partners Port of Tauranga and Tupu Tonu (Ngāpuhi Investment Fund Ltd), the Northland Regional Council is proposing to create a new joint-venture company combining MMH and Northport.
    Shareholding in the new company would be NRC (43%), Tupu Tonu (7%) and Port of Tauranga (50%), and would increase Northland’s stake in the port – a regionally-significant asset.
    Feedback on the proposal is open until 28 March – for more information go to www.nrc.govt.nz/MMHproposal
    BALLANCE FARM ENVIRONMENT AWARDS
    Northland celebrated the Regional Ballance Farm Environment Awards at Semenoff Stadium on Wednesday 19 March. The awards recognise farmers and growers who have demonstrated excellence in sustainability and environmental management, productivity and profitability, and family and community involvement.
    Kokopu beef farmers Rob and Mandy Pye of Mangere Falls Farm were the Regional Supreme Award Winner for 2025, also carrying away the Northland Regional Council Water Quality Enhancement Award, Norwood Farming Efficiency Award, and the Beef & Lamb New Zealand Livestock Farm Award.
    Awards were also presented to:
    • Maria Puig and Maurico Castellano, Maulen Partnership & Northland College Farm – Ballance Agri-Nutrients Soil Management Award; Bayleys People in Primary Sector Award; DairyNZ Sustainability and Stewardship Award; Hill Laboratories Agri-Science Award.
    • Pete Bond and Kelly Hackett, Bond Farms – NZ Farm Environment Trust Biodiversity Award
    • Board of Trustees and Matthew Payne, Whangaroa Ngaiotonga Trust – Rabobank Agribusiness Management Award; Farm Environment Trust Climate Recognition Award. 

    MIL OSI New Zealand News –

  • MIL-OSI Banking: African Development Bank, United Nations Development Programme, and Partners to host Regional Dialogue on Modernising Transparency and Accountability…

    Source: African Development Bank Group
    What:       High-Level Regional Dialogue on Public Finance Systems in Africa
    Who:        United Nations Development Programme (UNDP), African Development Bank Group (AfDB), United Nations Economic Commission for Africa (UNECA), and the government of the Republic of Benin
    When:      25 – 26 March 2025;…

    MIL OSI Global Banks –

  • MIL-OSI: Crypto Whales Are Watching These 3 Altcoins – Should You Buy In Too Before the Charts Reset

    Source: GlobeNewswire (MIL-OSI)

    PANAMA CITY, March 23, 2025 (GLOBE NEWSWIRE) — LF Labs token has captured significant attention this week as whale activity drives its price up by 13.37%, with trading volume spiking to $13.33 million. This surge has fueled speculation about the token’s potential for continued growth, as it outperforms many Ethereum-based alternatives. With increasing listings on major exchanges like Gate.io and MEXC, alongside its strong performance in DeFi markets, LF Labs is quickly emerging as a top pick for investors. As the $LF token gains momentum, crypto whales are signaling that it could be the next big breakout altcoin of 2025. Investors seeking to explore next-generation altcoins should keep a close eye on LF Labs as it positions itself for even greater potential in the coming months.

    Meanwhile, Uniswap (UNI) and PancakeSwap (CAKE) continue to attract whale interest, reinforcing the growing momentum in decentralized finance (DeFi) markets.

    Uniswap (UNI) Gains Momentum as Whale Confidence Grows

    Uniswap’s platform has received substantial investment from whales which resulted in a 3900% increase in large holder netflow within a seven-day period. The market has shown an optimistic shift through heavy investor participation in UNI’s value potential at a time of general market instability. The dollar value of tokens decreases as retail traders buy into the market thus reinforcing price stability.

    UNI Large Holders Netflow. Source: IntoTheBlock

    Market participants follow UNI’s performance because its decentralized exchange features continue to retain value through changing market conditions along with rising decentralized exchange requirements. The whale-led whale purchase demonstrates market positivity and expert analysts predict a temporary price increase. Lengthy investor interest in this pattern suggests the token will surpass comparable assets when moving forward in trading sessions.

    The increase in transactions from large wallets serves as an essential sign for potential UNI price appreciation while it captures investor attention regarding decentralized finance technologies. The combination of enhanced trading volume along with depleted availability creates conditions that could draw new investor interest in UNI. Core DeFi protocol exposure has attracted investors because of UNI’s improving conditions.

    PancakeSwap (CAKE) Rises as Meme Coin Activity Grows

    Previously dormancy-based wallets that contained significant amounts of CAKE have recently increased their activity measurements on PancakeSwap. A remarkable acquisition of 101 million CAKE tokens worth more than $250 million during the last 24 hours by whales has sparked inquiries about an upcoming strong return. The market interest in the token grows because BNB Chain has demonstrated increased meme coin trading volume.

    DEX users find PancakeSwap more attractive because decentralized trading platforms experience rising popularity enabling CAKE to become a leading selection for active virtual currency traders. The activity has established a conducive market condition that suggests CAKE may recover its value in upcoming days. Analysts observe investors showing more enthusiasm since major investors actively purchased tokens.

    CAKE Supply Distribution. Source: Santiment

    Persistent accumulation could give CAKE the chance to break out of its falling trend, which would then entice retail buyers to join. The Binance ecosystem depends on the token because it provides its users with both trading flexibility and increased liquidity. According to market analysts, short-term profitability becomes possible through sustained whale purchases.

    LF Labs ($LF) Emerges as the Top Pick Among Crypto Whales

    LF Labs’ $LF token leads whale interest this week with a 13.37% daily price jump, now trading at $0.0007578. The token’s market activity reached high levels when trading volume reached $13.33 million which elevated its volume-to-market-cap ratio to 579.58%. These figures confirm crypto whale confidence in LF Labs’ future performance and fundamentals.

    Source: CoinMarketCap

    The performance of the $LF token reached 121.90% during the past week, surpassing numerous Ethereum-based tokens in the market. 3 billion tokens presently circulate under a $6.24 million market capitalization, which indicates robust development possibilities for LF Labs. A valuation analysis of $20.80 million demonstrates major potential growth because the total possible supply of tokens surpasses current circulation levels.

    Several whale investors purchase $LF due to its cheap entry point, fast trading growth, Gate.io listing, and valuable practical applications. LF Labs has also introduced tailored liquidity solutions, 24/7 support, and global partnerships with over 700 projects. LF Labs represents a partnership between Alliance DAO Crypto Fund and passes the Certik audit standard while integrating innovation and transparent practices.

    The company known as Lovely Finance transitioned to LF Labs and delivered better brand recognition through solid building blocks and strengthened alliances. The company operates as a central DeFi growth engine through its distinctive market-making strategy and solutions that enhance scalability within Web3 ecosystems. The multiple cryptocurrency exchanges where LF Labs lists enhance both accessibility and liquidity because of growing interest from traders.

    Users who wish to trade LF Labs tokens can do so through Gate.io, HTX BitMart, and MEXC platforms. The project’s mission for a data-powered Web3 integration remains strong while LF Labs advances its worldwide expansion. People looking to invest in next-generation altcoins should consider LF Labs because its prospects are unmatchable before crypto price charts restructure.

    Contact:
    John Ellen
    CEO
    support@lflabs.fund

    Disclaimer: This press release is provided by LF Labs token. 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.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/03ce3938-ad3a-47b3-8a56-1c5076b98697

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    https://www.globenewswire.com/NewsRoom/AttachmentNg/fe1f593d-ef02-42c3-9d64-819174e1eadf

    The MIL Network –

  • MIL-Evening Report: Adelaide Hills water crisis: a local problem is a global wake-up call

    Source: The Conversation (Au and NZ) – By Kate Holland, Principal Research Scientist, Water Security, CSIRO

    A dry farm dam in Montacute, Adelaide Hills, March 2025. Ilan Sagi.

    The Adelaide Hills are experiencing severe water shortages. The root cause? A prolonged dry period and not enough water tankers to meet unprecedented demand from people not connected to the mains water supply.

    Thousands of residents and farmers are hurting as dams, tanks and streams dry up. Water tankers are becoming a common sight, carting in desperately needed water. People are waiting weeks for expensive water deliveries.

    The South Australian government has set up emergency water collection points to cope with the demand from off-grid families. More water tankers have been secured. But despite recent rain, the situation is far from over.

    We found rainfall and flows into Adelaide’s reservoirs are at their lowest levels in 40 years. Reservoir levels have dropped to 44% – the lowest for more than 20 years.

    Adelaide is not currently at risk of running out of water; the state government built a desalination plant after the Millennium Drought. Production at the desal plant is four to six times higher than usual to meet demand. Without the desal plant and water from the River Murray, the city would be under severe water restrictions.

    But the crisis shows many off-grid families, farms and businesses need new options to plan for the future.

    Over the past 12 months, rainfall in parts of South Australia has been the lowest on record.
    Commonwealth of Australia 2025, Bureau of Meteorology

    Global water stress

    This is not the first time entire communities have run out of water.

    Cape Town in South Africa nearly ran out of water in 2018. The city of nearly 4 million people was weeks away from “Day Zero”.

    In Australia, several regional and rural country towns have hit their own Day Zero. Stanthorpe in Queensland officially ran out of water in January 2020. Truckloads of water were carted into town every day to meet residential demand.

    Scientists have coined a new term, “hydroclimate whiplash”, to describe the rapid swings between intensely wet and dangerously dry weather currently occurring across the globe. This climate volatility amplifies natural hazards such as flash floods, wildfires, landslides and disease.

    The January wildfires in Los Angeles happened when two wet winters were followed by an extremely dry autumn and winter, providing plenty of dry fuel for fire.

    These aren’t isolated events. The global water crisis didn’t go away.

    The bigger picture

    What’s happening in the Adelaide Hills – and in other very dry places worldwide – demonstrates the need for careful, long-term water security planning.

    The United Nations Sustainable Development Goal 6 is to “ensure availability and sustainable management of water and sanitation for all”. Water stress already affects more than 2 billion people – more than a quarter of the world’s population.

    By 2030, the UN predicts 2 billion people will still be living without safely managed drinking water, 3 billion without safely managed sanitation, and 1.4 billion without basic hygiene services.

    For many, this is literally a life-or-death matter.

    Investing in water security

    CSIRO is collaborating with industry, government and research organisations on research to overcome drought and build resilience for regional Australia. Our researchers are testing how well each of these strategies might work in different regions during extended dry periods. We calculate how much water can be collected and stored during the driest periods on record.

    Rainfall over Norfolk Island, a subtropical island in the Pacific Ocean roughly 1,500km southeast of Brisbane, has declined by 11% since 1970, with long runs of dry years in recent decades. The future is likely to be drier still.

    Our Norfolk Island Water Resource Assessment explored ways to help the community determine how to adapt and build resilience to drought.

    Since this project finished in 2020, residential and commercial rainwater tanks have been upgraded and a new seawater desalination plant installed. Other options to diversify water supplies included sharing groundwater bores, capturing runoff in gully dams, managing vegetation water use, and storing water underground.

    Excess water from rainwater or recycled wastewater can sometimes be stored underground in natural reservoirs called aquifers for use during drought. This is called “water banking” or “managed aquifer recharge”. The technique has been developed over the past 20 years and used to safely store water underground across Australia and overseas.

    Brackish (salty) groundwater is a potential water source that could be unlocked during drought. A National Water Grid funded project is investigating ways to use groundwater that would normally be too salty, along with renewable energy to power inland desalination plants. The project is investigating the prospect of using brackish groundwater across Western Australia for the first time.

    Future generations are likely to face more severe water shortages.
    Rosie Sheba

    A call to action

    The Adelaide Hills water crisis is a microcosm of a global issue. It’s a reminder action is needed now to secure our water future. Not when the water runs out.

    Deeper groundwater bores, water tankers on standby and bigger water storages are all potentially part of the portfolio of emergency plans. And due to climate change, the Adelaide Hills water crisis will happen again if we are unprepared. It is a question of when, not if.

    We have also seen the catastrophic effects of drought in Los Angeles – a tinderbox waiting to burn, and insufficient water on hand to fight the fires. We can and must prepare for natural disasters today. These are not unforeseen consequences. They are not “unknown unknowns”. We know them today. We will have no excuse when this happens.

    By adopting more sustainable water management policies and practices in the longer term, we can make sure the spectre of Day Zero does not become real for more communities around the world.

    With thanks to CSIRO Senior Research Scientist and Hydrologist Matt Gibbs and Principal Experimental Scientist in Hydrogeology Andrew Taylor.

    Kate Holland receives funding from the Australian Government Department of Climate Change, Energy, the Environment and Water, and Department of Industry, Science and Resources.

    Craig T. Simmons has received funding for water research from various government and non-government organisations in the past. He is currently serving as Chief Scientist for South Australia.

    – ref. Adelaide Hills water crisis: a local problem is a global wake-up call – https://theconversation.com/adelaide-hills-water-crisis-a-local-problem-is-a-global-wake-up-call-251265

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Bitget Wallet and Berachain Unveil $80K BERA Airdrop for Ecosystem Users

    Source: GlobeNewswire (MIL-OSI)

    SAN SALVADOR, El Salvador, March 24, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, a leading Web3 non-custodial wallet, has partnered with Berachain to jointly launch an ecosystem campaign featuring a $80,000 BERA airdrop. Running from March 20 at 16:00 to April 2 at 16:00 (UTC+8), the initiative is designed to reward users who actively engage with Berachain’s rapidly expanding ecosystem through a series of interactive on-chain tasks.

    The campaign spotlights six emerging projects within the Berachain network: Dolomite, Kodiak Finance, Infrared, Wasabee (Honeypot Finance), Ramen Finance, and ZooFinance. Participants who engage with these decentralized applications (DApps) through Bitget Wallet—completing tasks such as staking, swapping, and wallet interactions—will become eligible for a share of the $80,000 BERA airdrop pool. The goal is to encourage user exploration of the Berachain ecosystem and support the growth of its early-stage protocols.

    As the first wallet to fully integrate Berachain, Bitget Wallet offers users direct access to the Berachain mainnet, along with built-in features like token swaps, cross-chain transactions, and DApp connectivity—eliminating the need for manual configuration or third-party tools. This initiative is part of a broader effort by Bitget Wallet and Berachain to lower the barrier to ecosystem adoption while supporting builders and early participants, reinforcing both teams’ commitment to making onchain participation more accessible and rewarding.

    “Berachain represents a new wave of DeFi infrastructure, and we’re excited to work closely with its ecosystem to bring users deeper on-chain experiences,” said Alvin Kan, COO of Bitget Wallet. “Through this campaign, we aim to lower the barrier to participation and reward users who help grow the next generation of decentralized protocols.”

    For more details, please visit Bitget Wallet X.

    About Bitget Wallet
    Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser and crypto payment solutions. Supporting over 130 blockchains, 20,000+ DApps, and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users’ assets. Experience Bitget Wallet Lite to start a Web3 journey.
    For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook
    For media inquiries, please contact media.web3@bitget.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fa873586-8915-44f0-af6e-24c774b0bed7

    The MIL Network –

  • MIL-OSI: Vantage Drilling International Ltd. – Appointment of Director

    Source: GlobeNewswire (MIL-OSI)

    Dubai, March 23, 2025 (GLOBE NEWSWIRE) — Vantage Drilling International Ltd. (the “Company“) announces the appointment of David Warwick to its board of directors. Mr. Warwick has over 15 years’ experience in investment advisory, capital markets, corporate finance, commercial, strategy, and leadership. In addition, Mr. Warwick has longstanding experience in the oil and gas and shipping sectors including a decade working with the drilling contractor Seadrill in a variety of senior commercial and finance related roles. Mr. Warwick is currently the founder and principal of Artemis Investments LLC, a Dubai based entity involved in strategic investment opportunities and capital market transactions.

    About the Company

    Vantage Drilling International Ltd., a Bermuda exempted company, is an offshore drilling contractor. Vantage Drilling’s primary business is to contract drilling units, related equipment and work crews primarily on a dayrate basis to drill oil and natural gas wells globally for major, national and independent oil and gas companies. Vantage Drilling also markets, operates and provides management services in respect of drilling units owned by others. For more information about the Company, please refer to the Company’s website, www.vantagedrilling.com  

    Attachment

    The MIL Network –