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Category: Finance

  • MIL-OSI: Ress Life Investments A/S publishes Net Asset Value (NAV).

    Source: GlobeNewswire (MIL-OSI)

    Ress Life Investments
    Nybrogade 12
    DK-1203 Copenhagen K
    Denmark
    CVR nr. 33593163
    www.resslifeinvestments.com

    To: Nasdaq Copenhagen
    Date: 17 February 2025

    Corporate Announcement 06/2025

    Ress Life Investments A/S publishes Net Asset Value (NAV).

    Ress Life Investments A/S publishes the Net Asset Value (NAV) per share as of 31 January 2025.

    NAV per share in USD: 2594.43

    The performance during January is -0.03% in USD. The year-to-date net performance is        -0.03% in USD.

    Assets under management (AUM) are 284.6 million USD.     

    The NAV per share in EUR is from 5 February 2025 published on a daily basis. The NAV in EUR is published on the website of Nasdaq Copenhagen under the section AIF Companies and Funds, where the bid and ask prices are published. The daily NAV in EUR is calculated as the most recently published NAV in USD divided by the European Central Bank’s EUR/USD reference rate on the relevant day.

    Questions related to this announcement can be made to the company’s AIF-manager, Resscapital AB.

    Contact person:
    Gustaf Hagerud
    gustaf.hagerud@resscapital.com
    Tel + 46 8 545 282 27

    Note: The terms for subscription of shares, minimum subscription amount and redemption of shares are provided in the Articles of Association, Information Brochure and in the Key Information Document available on the Company’s website, www.resslifeinvestments.com.

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Joint Statement by the Saudi Finance Minister and IMF Managing Director at the conclusion of the Inaugural Al Ula Economic Conference for Emerging Market Economies

    Source: International Monetary Fund

    February 17, 2025

    Al Ula, Saudi Arabia – February 17, 2025: A two-day inaugural annual global Conference on Emerging Market Economies was held in Al Ula, Saudi Arabia from February 16-17, co-hosted by the Saudi Finance Ministry and the International Monetary Fund (IMF). Mohammed Aljadaan, Finance Minister of Saudi Arabia, and Kristalina Georgieva, Managing Director of the IMF, made the following statement at the end of the conference:

    “We would like to thank Emerging Markets policymakers, academics, and representatives of the regional and international financial institutions for joining us and helping to make this first-ever Al Ula Economic Conference for Emerging Market Economies a successful forum for building greater collaboration and discussing the specific challenges facing emerging markets (EMs).

    “Over the past two days, we have discussed how emerging economies can navigate the risks and, importantly how they can embrace the opportunities ahead. One common emerging theme is the importance of unity of purpose and the need to continue working together to sustain EM economies’ resilience to shocks and sustain growth. Three takeaways to highlight:

     “First, this is a time of sweeping transformations—from technology to trade, or climate to capital flows. And these changes are reshaping the global economy. How all these changes will unfold remains to be seen. But we know that in a more uncertain and shock-prone world, building resilience through sound macroeconomic and financial policies must continue to be a priority.

    “Second, emerging markets are seizing these transformations to make their economies stronger. With widespread digitalization and ambitious policies, the prospects for harnessing the benefits of AI are promising. Tapping the potential of AI would enhance Emerging Market Economies’ productivity and resilience, but it will require reforms to boost investments in digital infrastructure and human capital. Deeper regional trade and financial integration would also be important.

    “Third, while these transformations offer great opportunities, we must work together to help avoid the very real risk of some countries falling behind. The first line of defense will of course be strong domestic policies and reforms to help seize these opportunities. But the international community can also support countries and reduce the risk of growing divergence.

    “We are proud to have co-hosted the first global forum that is focused solely on the economic prospects for Emerging Market Economies and we look forward to continuing the discussions in the year ahead and at the second Al Ula conference next year.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Wafa Amr

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

    MIL OSI Economics –

  • MIL-OSI Africa: Imperatus Energy Chief Executive Officer (CEO) Unpacks Downstream Strategy for Congo

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

    BRAZZAVILLE, Congo (Republic of the), February 17, 2025/APO Group/ —

    As the Republic of Congo strives to reach a crude oil production target of 500,000 barrels per day, it is also making significant strides in advancing its downstream sector. Energy trading companies, such as Imperatus Energy, will be pivotal to ensuring efficient distribution and market stability during this expansion strategy. In an interview with Energy Capital & Power (https://EnergyCapitalPower.com), Imperatus Energy CEO Oumar Semega discussed the company’s supply chain strategies and infrastructure development updates in Congo.

    What strategies are being implemented by Imperatus Energy to ensure a reliable and efficient supply chain for petroleum and gas products?

    As a specialized energy trading company, Imperatus Energy adopts a flexible and optimized approach to secure a reliable supply of petroleum and gas products in the African market. We prioritize diversification of supply sources by working with a vast network of international and regional producers, refineries and suppliers.

    Our logistics and flow management strategy involves collaboration with storage terminals, pipeline operators and maritime, river and land transport providers. By negotiating agreements, we optimize costs and ensure the swift and secure distribution of products. We also leverage technology to enhance visibility and performance through risk management tools, digital cargo tracking platforms and advanced trading systems.

    To mitigate risks, we employ proactive risk management and regulatory compliance strategies, including financial hedging to counter oil and gas price volatility.

    How does Imperatus Energy collaborate with local and international partners to meet the Republic of Congo, and Africa’s, energy needs?

    Imperatus Energy adopts a collaborative approach, working with a strategic network of local and international partners to secure competitive and reliable petroleum and gas supplies for Africa. We maintain partnerships with international producers and refineries, ensuring access to significant energy volumes under optimal conditions.

    To support local markets, we work closely with importers and petroleum distribution companies, offering flexible solutions in terms of volume, delivery schedules and payment terms. This helps local players efficiently distribute energy to end consumers.

    With rising demand for energy logistics and storage in the Republic of Congo, how is Imperatus Energy developing its infrastructure to address these challenges?

    We partner with refineries, storage terminals and top logistics operators to secure transportation and product availability in key markets. This strategy enables flexibility in responding to demand fluctuations while optimizing transport and storage costs.

    Through advanced logistics management, we identify the best supply routes based on existing infrastructure, including floating storage, pipelines, maritime, river, rail and road transport. By securing agreements with suppliers and storage operators, we ensure uninterrupted supply, even during market tensions. We also leverage technology for real-time shipment tracking, demand forecasting and trading optimization.

    How does Imperatus Energy facilitate transactions and payment solutions for its energy clients?

    Imperatus Energy provides secure and flexible payment solutions, recognizing the financing and liquidity challenges in African markets. We offer tailored payment options, including deferred payments, trade financing through credit lines, letters of credit for secured transactions, installment plans for cash flow management and multi-currency payment capabilities. By partnering with banks and financial institutions, we ensure access to funding for petroleum and gas purchases. To optimize international transactions, we assist with currency conversion and foreign exchange operations, negotiating favorable conditions with banking partners to minimize transaction costs.

    As a Gold Sponsor at the inaugural Congo Energy & Investment Forum 2025, what are your expectations for this event?

    Imperatus Energy views this event as a platform to reinforce our commitment to Africa’s energy market, particularly in the Republic of Congo. We aim to strengthen partnerships by engaging with key industry players, including government officials, financial institutions, local businesses and international investors, to foster sustainable energy collaborations.

    Understanding market trends and investment opportunities is another priority. The forum provides a unique chance to analyze regulatory developments and identify investment prospects in energy trading, imports and distribution.

    MIL OSI Africa –

  • MIL-OSI United Kingdom: John Flint to step down as National Wealth Fund CEO in the summer

    Source: United Kingdom – Executive Government & Departments

    John Flint to step down from his role as CEO of the National Wealth Fund (NWF) in the summer, after four years of public service.

    • Flint has successfully led the NWF through its recent transformation, building on his leadership of the UK Infrastructure Bank (UKIB).
    • Since launch the NWF has unlocked £1.6 billion of investment in support of the government’s growth and clean energy missions, as part of the Plan for Change.
    • The recruitment process for his successor will start shortly.

    John Flint is to step down from the role of the CEO of the National Wealth Fund (NWF) in the summer after seeing through the transition from the UK Infrastructure Bank (UKIB). 

    Appointed as CEO of UKIB in 2021, Flint led the organisation from a start-up to an established feature of the UK investment and policy landscape.

    In October 2024, UKIB was transformed into the NWF with Flint taking on the role of CEO of the new organisation. Since then, Flint has driven forward the transformation of the institution, with its broader mandate to support the government’s growth and clean energy missions through its partnership with the private sector and local government.

    Since its launch the NWF has invested in 11 deals, securing 8,600 jobs and unlocking £1.6 billion in investment spread right across the industries that turbocharge growth in our economy as government’s number one mission – from clean energy to digital infrastructure.

    Backed by capitalisation of £27.8 billion, the NWF has been established to mobilise over £70 billion of business investment and help kickstart economic growth as part of the government’s Plan for Change.

    The NWF has also recently committed to trialling strategic partnerships with local government, starting in Greater Manchester, West Yorkshire, West Midlands, and the Glasgow City Region. These partnerships will provide enhanced, hands-on support with tailored commercial and financial advice to help regions develop and secure long-term investment opportunities.

    Chancellor of the Exchequer Rachel Reeves said: 

    John Flint has been an outstanding CEO of UKIB and the NWF. He will leave behind a considerable legacy – having led the scale-up of UKIB and its transformation into the NWF. I would like to thank him and wish him well.

    His successor will be required to build on his work by backing businesses and our local leaders to invest in the industries of the future. In doing so we can get Britain building the infrastructure we need to grow as part of our Plan for Change.

    John Flint said:  

    It has been a huge privilege to lead UKIB and NWF, working with some of the brightest and best of the public and private sectors. After successfully leading the transformation of UKIB into the NWF, this summer will be the right moment to hand over to a successor and look for a new challenge.

    I will do so feeling confident that the NWF is well positioned to mobilise billions of pounds of investment and play a leading role in supporting the government’s ambitions on growth and clean energy. I will follow its future activities with interest.

    A recruitment process to identify Flint’s replacement will launch shortly. Flint will remain as CEO until the summer to support an orderly transition to a new CEO and to ensure that momentum is maintained. 

    John Flint biography

    As Chief Executive Officer of the NWF, Flint chaired the Fund’s Executive Committee, is a member of the Board of Directors, and chairs the Investment Committee, which makes decisions on investments. 

    Previously Flint was Group Chief Executive of HSBC. During his 30-year career with HSBC, Flint built a range of skills in wholesale banking, retail banking, and Treasury and risk management. He represented HSBC in nine countries, spending much of his career in Asia. He progressed through the roles of Group Treasurer, Deputy Head of Global Markets, Chief Executive of HSBC Asset Management, and Chief Executive of Retail Banking and Wealth Management, before being appointed Group Chief Executive.

    Updates to this page

    Published 17 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Innovation@Leeds funding aims to provide launchpad for future business success

    Source: City of Leeds

    Funding has been confirmed for seven projects that will provide support to business trailblazers in Leeds and strengthen the city’s reputation as an innovation hotspot.

    Leeds City Council’s Innovation@Leeds programme recently invited grant applications from organisations that were ready, willing and able to use their expertise to turbocharge the development of a new wave of digital and tech-savvy companies.

    A total of 40 applications were received, with the seven successful bidders – chosen by the council following a competitive selection process – each receiving a grant of up to £25,000.

    They will now use the funding to run a range of knowledge-sharing events and mentoring programmes aimed at people from diverse communities and backgrounds who want to launch or further develop their own innovation-led businesses.

    This work will, it is anticipated, help the participants build the kind of skills and contacts that will prove crucial as they look to carve out their own niche in fields such as artificial intelligence or health and financial tech.

    In the longer term, it is hoped their businesses will go on to deliver cutting-edge products, processes and services that make Leeds a healthier and greener place to live.

    The grants are also designed to benefit the Leeds economy by driving inclusive growth while showcasing the city’s innovation strengths to outside investors.

    The initiatives that have been chosen to receive funding are:

    • GreenTech Gathering, four full-day workshops that will provide green technology businesses with expert insight in areas such as investor readiness and brand strategy. The sessions will be delivered with support from madeby.studio, Sustainable Ventures, Bruntwood SciTech and Optimo;
    • A programme of mentoring, workshops and public speaking opportunities – delivered by FinTech North – that will help aspiring entrepreneurs and future business leaders develop their pitching and presenting skills;
    • The Brand Lab, which will see creative design studio Buttercrumble running a series of workshops focused on how tech organisations can connect with target audiences through the use of techniques such as visual storytelling and inclusive communication;
    • Athena VC Elevate, a venture capital-focused programme – being run by Lifted Ventures – that will aim to give business founders the tools and knowledge they need to achieve rapid growth and long-term success;
    • A programme of business support – including grant-writing assistance and one-to-one mentoring – delivered by Quick Labs, a science innovation hub that provides affordable, fully-equipped laboratory space for early-stage tech start-ups;
    • Global Innovators, a project designed to help innovative businesses better understand – and realise – their international growth potential. The programme will be delivered by Creaticity, Synhrgy and Investor Ladder;
    • AI 360 Leeds, an AI Tech UK business support programme that will give start-ups, entrepreneurs and others the chance to find out more about artificial intelligence strategies and how they can be used to power growth.

    Innovation@Leeds was launched by the council in 2021 to try to ensure that opportunities in sectors such as digital are made available to all.

    The programme’s latest grants are being funded through central government’s UK Shared Prosperity Fund, which is administered locally by the West Yorkshire Combined Authority.

    The award of the grants will align with a city-wide vision – co-created by the council with key local partners – for stimulating innovation in a way that has a positive social impact.

    One aspect of that vision is the further development and transformation of the Leeds Innovation Arc, an area on the west side of the city centre that is home to globally-renowned educational, health and cultural establishments as well as an array of start-ups, scale-ups and major businesses.

    Councillor Jonathan Pryor, Leeds City Council’s deputy leader and executive member for economy, transport and sustainable development, said:

    “We are determined, as a council, to play our part in giving people from all backgrounds and communities the opportunity to make the most of their potential.

    “These Innovation@Leeds grants are a great example of how that ambition can be achieved, with the chosen projects set to offer expert insight and guidance to a diverse range of founders, entrepreneurs and thinkers.

    “Their success will be the city’s success, as a productive future for their businesses will have a positive wider impact on Leeds and its economy through the creation of jobs and other opportunities.

    “By sharing knowledge and expertise, the projects also underline how a collaborative approach to working can help our thriving innovation sector reach even greater heights.”

    ENDS

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Madagascar’s WTO Trade Policy Review: UK Statement

    Source: United Kingdom – Government Statements

    UK Statement at Madagascar’s World Trade Organization Trade Policy Review. Delivered on 12 February 2025.

    1. Let me begin by offering a warm welcome to the delegation from Madagascar led by Her Excellency Priscilla Andrianarivo. I thank Madagascar for the significant preparations and work which I know go into a Trade Policy Review and we express our gratitude to colleagues from the WTO Secretariat for their respective reports, and as ever, to our Discussant, Her Excellency Ms Clara Delgado Jesus, for their insightful comments.

    2. Chair, we are grateful for the Reports provided by this Trade Policy Review, which have given us important insights into Madagascar’s own economic efforts, and reforms, over the review period.

    3. As we have heard this morning regarding Madagascar’s aspirations on trade, the Reports highlights the growth in trade Madagascar has seen over the period of review, initially accounting for just under half of GDP to now over two thirds.

    4. We welcome continued efforts to integrate into global supply chains and note that this is key to addressing the severe levels of poverty that are present. The Reports note the importance of Madagascar realising its growth potential through improving the economy and tackling corruption; we look forward to supporting Madagascar to go further and faster on this.

    5. We hope to also see further growth in Foreign Direct Investment; Madagascar’s location and array of resources make it an attractive destination for this and we hope to see the recent reforms to the Mining Code and the introduction of the new Investment Law create even more opportunities here. In this context it would be remiss of me not to mention the opportunities that the International Foodservices Distribution Association (IFDA) could afford here and we encourage Madagascar to consider their participation.

    6. Chair, the UK and Madagascar have a positive and longstanding relationship. As well as being the first official diplomatic partner Madagascar ever had, the UK and the English language has been a consistently trusted and regular feature in Madagascar.  We are particularly pleased to see this relationship marked last November by Lord Collins, FCDO Minister for Africa, meeting with General Ravalomanana.

    7. This was a valuable conversation and we were particularly pleased to hear of the focus on deforestation and the importance of raising awareness on its impact. One of the first things most people picture when thinking of Madagascar is your beautiful landscapes. These initiatives are crucial in preserving Madagascar’s natural environment, ensuring its beauty and biodiversity remain intact for future generations, as well as visitors.

    8. In this conversation we also encouraged Madagascar to interrogate the decline in per capita income since independence in 1960 and promoted the need for national industrialisation to tackle extreme poverty. We discussed economic diversification and the value of new partnerships. We look forward to seeing increased efforts to deliver regulatory reforms and the types of government-backed initiatives that make Madagascar a more accessible and easier-to-navigate option for foreign investors.

    9. Our relationship recently reached another significant milestone with Madagascar entering into our regional Economic Partnership Agreement. This will offer better access to the UK market, stimulate growth through foreign investment and increase development cooperation, which can support infrastructure, natural resources, and environmental projects in Madagascar. We hope this year we can propel our technical engagement in order to see trade between our countries flourish.

    10. There are also some exciting engagements to look forward to. Next week, the International Trade Centre and the UK Trade Partnerships Programme bring together operators in the textile industry to prepare Malagasy enterprises on the new sustainability regulations for UK market and the EU.

    11. I also welcome Madagascar’s efforts to support women in trade and gender equality, in particular its work to meet AfCFTA protocols [the African Continental Free Trade Area]. The UK encourages Madagascar’s engagement in the important work happening here in Geneva too, to which they can make valuable contribution, not least the Informal Working Group on Trade and Gender, of which my Ambassador co-chairs, along with our esteemed discussant today.

    12. As a member of several negotiation groups at the WTO, such as the G90, the African Group, ACP, the LDC group and the G33, we hope Madagascar continues to make the most of support available to LDC Members. For example, the Enhanced Integrated Framework, providing in-country technical assistance and the Advisory Centre on WTO Law which provides legal support on WTO issues, both of which the UK is very pleased to support.

    13. As we consider participation in activities here in Geneva, and the opportunities, I would also like to take this opportunity to encourage Madagascar to ratify the ‘Fish 1’ agreement, as well as to consider their participation in the e-commerce JI, and on domestic regulation, in addition to the aforementioned IFDA.

    14. Chair, Trade Policy Reviews are an important time of reflection. It is a time to both take stock of successes and to set goals. In this regard, it is positive to hear that the government has expressed willingness to liberalise the market and to attract more investors, notably with the promotion of the Special Economic Zone and the new Investment Law.

    15. We encourage Madagascar to address barriers around monopolies and dominance in certain markets. We look forward to proactive steps to encourage competition, particularly in the telecommunications, vanilla, lychee, and renewables industries.

    16. I’d also like to take this chance to underline the valuable potential for expansion in renewable energy in Madagascar and say that the UK is committed to accelerating the global clean power transition and to work with countries who share our ambitions on this.

    17. Finally, Chair, I wanted to end with a few words of Malagasy wisdom, from the epic poem Ibonia: “So long as this tree is green and healthy, I will be all right”. Cultivating an economy aligned with the international rules-based order of which the WTO is part of will mean not just Madagascar, or the WTO blossoms: we all do.

    18. Again, I would like to thank the WTO Secretariat, the discussant and Madagascar for the huge amount of work that goes into a Trade Policy Review, and for the informative answers to our questions. We hope this will be a valuable exercise in transparency.

    Updates to this page

    Published 17 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Alexander Novak took part in the board meeting of the Ministry of Economic Development

    Translartion. Region: Russians Fedetion –

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

    Alexander Novak took part in the board meeting of the Ministry of Economic Development

    February 17, 2025

    Alexander Novak took part in the board meeting of the Ministry of Economic Development

    February 17, 2025

    Previous news Next news

    Alexander Novak took part in the board meeting of the Ministry of Economic Development

    At the meeting, the participants of the board of the Ministry of Economic Development summed up the main results of the department’s work for 2024. The priorities were identified as maintaining macroeconomic stability, mitigating risks in industries and increasing the potential for economic growth.

    “Despite the ongoing sanctions pressure from unfriendly countries, our economy has demonstrated a high degree of resilience. Moreover, it has shown unprecedented growth rates. GDP growth rates in 2024 amounted to 4.1%, over the past two years – 8.4%. They were the highest in the last decade. The achieved indicators are higher than the global average and significantly higher than the growth rates of Western economies. In nominal terms, since 2020, Russian GDP has doubled and amounted to 200 trillion rubles at the end of last year. Budget revenues were doubled, and the share of oil and gas revenues was reduced. This indicates the diversification of the Russian economy,” said Deputy Prime Minister Alexander Novak, opening the board meeting.

    Taking into account the current challenges, the work of the Government and the Ministry of Economic Development, in particular, is focused on solving three main tasks, noted Minister of Economic Development Maxim Reshetnikov in his report. “The first is ensuring macro stability. Together with the Bank of Russia and the Ministry of Finance, we are working on the interrelationship of monetary and fiscal policy,” he explained and recalled that this topic was discussed in January at a strategic session led by the Prime Minister.

    The second task is to mitigate risks in individual sectors due to the consequences of tightening monetary policy. The third block of questions is related to the growth of the economy’s potential. “We estimate the economy’s potential at 3% per year and believe that this parameter is achievable,” the minister confirmed.

    The head of the department emphasized the need for further support of investments in the regions and the development of existing support mechanisms. Thus, last year, special economic zones appeared in three regions (Rostov and Tver regions, Mordovia), and were expanded in seven. “A record 230 new residents came. There are 1,300 of them in total, which means that every fifth investor came last year,” he said.

    With the support of the State Duma Committee on Economic Policy, the criteria for creating SEZs have been updated to allow for the development of individual specializations. The entry threshold for investments in technical sovereignty projects has been lowered. The ban on residents pledging lease rights to state-owned land has been lifted so that investors can attract loans at the construction stage.

    The first stage of work on mechanisms that help build infrastructure for investors has been completed. “This year, the task is to restart them, preserving the main principle: to focus on projects that have effects for the economy. They will generate taxes, not costs,” added Maxim Reshetnikov.

    “We will continue to improve the business climate: reduce costs and barriers within the framework of the TDC [transformation of the business climate], reengineering the rules of industrial construction, regional and municipal investment standards. Now, together with the Agency for Strategic Initiatives, we are restarting the national business model,” the minister said.

    Speaking about other priorities for work in 2025, the head of the Ministry of Economic Development emphasized the importance of developing state statistics. A large-scale project has already been launched to digitalize statistics, collect information, and combine data with departmental systems. The task is to create a single digital statistics platform, take all interactions to a new level, reduce data processing time and the reporting burden on businesses, he noted.

    Another important area is the OKVED reform. A law has been passed that assumes that the OKVED code will not be what the enterprise once determined during registration, but will reflect the real economic structure of its activities. A lot of interdepartmental work is ahead to switch to the new system. “This is important for the formation of adequate statistics. On the other hand, we will receive an instrument of mass support for enterprises,” the minister said.

    “The Federation Council has developed very productive relations with the economic bloc of the Government. We meet almost weekly to discuss further measures to ensure the stability of the financial sector and various sectors of the economy,” said Deputy Chairman of the upper house of parliament Nikolai Zhuravlev.

    “There are many joint issues on the agenda of the relevant committees of the Federation Council. Among them are the implementation of the Strategy for Spatial Development of Russia, support for long-term investments, and reduction of the administrative burden on business. And of course, the key task for the Federation Council remains the work on improving the investment climate in the regions,” he added.

    Chairman of the State Duma Committee on Economic Policy Maxim Topilin, in turn, noted the importance of the extensive legislative work carried out by the Ministry of Economic Development. As an example, he cited the law on creative industries, on technology policy, and changes to the law on concessions. In addition, according to him, existing support measures need to be accumulated within a single Internet platform, similar to government services.

    “Even seven or eight years ago, government services existed, in essence, in the form of a description of certain administrative regulations. Today, most of them can be obtained electronically. For business structures, it is necessary to set the task of creating similar access to the full range of support measures, everything related to preferential regimes,” the deputy said.

    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 Security: Man arrested on suspicion of attempted murder following serious assault

    Source: United Kingdom London Metropolitan Police

    Officers investigating a serious assault near Archway Station have arrested a man on suspicion of attempted murder, as detectives continue to appeal for witnesses.

    Police were called at 22:28hrs on Saturday, 15 February after a man was admitted to hospital with stab wounds. Enquiries indicated that the assault had occurred in Navigator Square, N19.

    The man, who is in his 20’s remains in hospital in a life-threatening condition.

    Enquiries indicated that the assault occurred in Navigator Square, N19, close to Archway Station. A cordon remains in place.

    A 22-year-old man was arrested on Sunday, 16 February, on suspicion of attempted murder and remains in custody.

    Investigating officers are carrying out multiple enquiries in the local area and appealing to anyone who may have witnessed anything to contact police.

    Detective Inspector Anna Deighton, of Central North Local Investigations said:

    “Our officers worked quickly to establish where this assault occurred, putting a cordon in place and carrying out enquiries in the area. Yesterday evening, a man was arrested on suspicion of attempted murder and he remains in custody.

    “Residents and visitors to the area will have noticed an increased police presence whilst this investigation remains ongoing.

    “We have designated officers on reassurance patrols, to answer questions that the public may have.

    “I encourage anyone who has information but may not have contacted police yet to get in touch and assist with this investigation.”

    Anyone with any information is asked to contact police quoting CAD 7159/15FEB.

    Alternatively you can contact the independent charity Crimestoppers anonymously on 0800 555 111 or visit crimestoppers-uk.org.

    MIL Security OSI –

  • MIL-OSI Economics: Eddie Yue: Navigating new growth corridors in Asia-Pacific

    Source: Bank for International Settlements

    Ladies and Gentlemen, good morning.

    Let me first thank ASIFMA for inviting me here today, and also for hosting this flagship conference in Hong Kong again.

    The theme of this year’s conference, “Navigating New Growth Corridors in Asia-Pacific”, is very timely. The region is undergoing profound transformation, driven by a host of factors including the realignment of global supply chains, shifting economic landscapes, changing investment and consumption patterns, etc.  These factors have resulted in more frequent economic interaction among some of its key economies, particularly between China and ASEAN.  Over the last couple of years, we have often heard the catchy term “corridor business” or “network business”, which describes the commercial opportunities that could arise from such interaction.  What I hope to do today is to share with you what I see are the fundamental forces underpinning these corridors or networks, how Hong Kong has been positioning itself for the resulting opportunities, and what more needs to be done.

    The New Growth Corridors

    Let me start with the forces that are reshaping cross-border commerce and business in the region.

    First is the changing pattern of trades. Part of that and also the headline-grabbing part is driven by changes in geopolitical dynamics and trade policies in the west.  But there are longer term economic considerations too.  Asia is no longer just the world’s factory or a source of low-cost labour.  It has emerged as a powerhouse of innovation and consumption, with China leading the way.  Policies also play a part.  Trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) are facilitating the flow of goods and services in the region.

    The result of these is a stronger trade relationship between China and ASEAN. By 2024, ASEAN has become China’s largest export destination and import source, accounting for 16.4% of China’s exports and 15.3% of imports in 2024.

    Arguably more important is that we are seeing deeper integration of supply chains in the region. In 2023, close to 10% of ASEAN exports were value added sourced from China, almost doubling the share in 2017.  This reflects how China and ASEAN are more tightly wedded together to form an integral part of the global supply chain.

    The second factor is the growth of cross-border investment. This is the most notable in foreign direct investment.  In 2023, China’s FDI to ASEAN reached USD 25 billion, an increase by over one-third in just one year.  As of July 2024, the cumulative bilateral investment between China and ASEAN surpassed USD 400 billion.  Chinese investments cover not only manufacturing sectors, but also increasingly in emerging fields such as the digital economy and the green economy.  On financial investments, China’s investment in ASEAN securities has also seen rapid growth in recent years, hitting USD 18.5 billion as of June 2024, with a yearly growth of over 20%.

    Hong Kong’s Unique Role

    Now, what is Hong Kong’s role as we see the rapid growth of the China-ASEAN corridor?

    As a leading international financial centre in Asia, Hong Kong has always been a key provider of efficient cross-border payments and financing services to support the region’s trade and investment. Of the roughly USD 50 billion outstanding trade finance loans offered by banks in Hong Kong, around 40% were used to finance merchandise trade not touching Hong Kong, reflecting Hong Kong’s role in financing trades in the broader region.

    In fact, our role in trade finance is becoming more significant as RMB gains recognition as an international currency. Data from SWIFT shows that RMB’s share in the global trade finance reached 6.4% in November 2024, ranking second just after the US dollar.  As the world’s largest offshore RMB hub, Hong Kong handles approximately 75% of all offshore RMB transactions, particularly those related to cross-border trade payment and settlement.  This strong position in RMB business, together with our extensive offshore RMB liquidity pool, allow us to provide the most cost-effective RMB trade finance solutions, so that ASEAN exporters and importers can settle their transactions with China conveniently in offshore RMB.

    Let’s turn to our role in cross border investment. Hong Kong has always been the key intermediary for investment going into and out of the Mainland, handling about two-third of such flows in the past few decades. 

    And we do much more than just passing money from one hand to another. Hong Kong’s capital market has been a key venue for raising capital by firms across the region.  Our equity market has continued to be one of the world’s most liquid and resilient, even with the challenging macro environment.  With improved investor sentiment, our market is rebounding and our IPO market returned to the fourth place globally in 2024.  Less visible but no less important is our bond market.  According to our internal analysis, over USD 130 billion of Asian international bonds were arranged in Hong Kong in 2024, with a yearly growth of more than 50%, making Hong Kong the largest bond arranging hub in the region.  As in the case of trade financing, RMB’s share of investment and fundraising activities in the region has also been on the rise.  In the first three quarters of last year, dim sum bond issuance in Hong Kong totalled over RMB 770 billion, increasing by 35% over 2023.

    Enhancing the Trade and Financial Corridors

    All this is good. But what do we need to do next to strengthen our role in enhancing this important growth corridor?  Naturally, as the region’s trade, economic and investment landscapes continue to shift, Hong Kong would have to broaden and adapt our offerings to maintain our leading position.

    Part of this involves building on our traditional strengths. For example, the HKEX introduced a new listing route in 2023 to facilitate the listing of specialist technology companies, which aims at further supporting companies in accessing capital to fund their innovative ideas and drive growth.  For the bond market too, the HKMA and the SFC have jointly established a task force with market participants to explore ways to further promote Hong Kong’s status as a premier fixed income and currency hub.

    With RMB taking up an increasingly larger share of cross-border trade and investment, we have also been beefing up our RMB offerings. On liquidity for example, just last week, we launched the offshore RMB repo business using Northbound Bond Connect bonds as collateral; and HKEX will also soon allow the use of these bonds as margin collateral at OTC Clearing Hong Kong.  To further support trade financing, the HKMA will introduce the RMB Trade Financing Liquidity Facility next week.  The facility will provide banks in Hong Kong with up to RMB 100 billion in liquidity for up to six months, and that will help reinforce Hong Kong’s position as the global leader in offshore RMB business.

    We are also making systematic efforts to look at what more needs to be done to ensure that Hong Kong continues to stay at the forefront. As announced by the Chief Executive in last year’s Policy Address, the HKMA has established a working group to study future supply chain shifts and develop policy recommendations to enhance Hong Kong’s capacity for the related financial services.  The Hong Kong Association of Banks is also setting up a new committee on corridor business. 

    While this is probably not the right occasion to discuss in details the findings of such groups, I would just like to outline three themes emerging from the study as key to capturing the opportunities from the new business corridors in the region.

    First is the importance of digitalisation and innovation, in order to reduce cost, enhance efficiency, and enhance security and reliability. Trade finance is an area ripe for “digital disruption”.  Over the years there have been attempts within the industry to go “electronic” in trade documentation and in obtaining trade financing.  But there is still a lot more that we collectively can help improve.  For instance, we are experimenting with tokenisation use cases in the area of trade and supply chain finance through our Project Ensemble Sandbox.

    The second key theme is sustainability. If you just look at the news headlines, it is hard to shake the impression that sustainability is on the retreat.  To us at the HKMA though, our commitment to an orderly and inclusive transition is as firm as ever.  Last October, we launched the Sustainable Finance Action Agenda, setting out our vision to further consolidate Hong Kong’s position as the sustainable finance hub in the region and support the sustainable development of Asia and beyond.  This commitment is underpinned by two beliefs.  First, our moral obligations, particularly given that the region is the world’s biggest emitter and many of the region’s emerging markets would be badly affected by climate change.  Hong Kong, as the region’s financial centre, has the duty and capability to help. 

    But our commitment is also underpinned by our belief that sustainability is a good business. Hong Kong is Asia’s largest location for issuing international green and sustainable bonds, with over USD 40 billion of these bonds issued here in 2024, capturing 45% of the regional market.  If we include green and sustainability loans as well, total green and sustainable credits issued in Hong Kong exceeded USD 80 billion.  Despite the news headlines, sustainability initiatives across the world, from disclosure standards and climate risk management practices, are coming into force.  They would bring new opportunities to those that are prepared, and we want to make sure that Hong Kong is at the centre of it.

    The third key theme is engagement. Hong Kong has always been the “China gateway”.  But to continue to effectively perform this role at a time when many Mainland corporations and investors are looking abroad, and when businesses in many Asian markets are looking to do business with China, Hong Kong must also get to know these markets, and to tell them our strength.  To really get to know each of these markets, engagement is critical.  Over the past two years, the HKMA has visited various countries in the region to pursue collaborative initiatives with central banks and have welcomed delegations to Hong Kong.  Some of such interaction are being converted into tangible work.  For example, last October, the HKMA and the Bank of Thailand announced the collaboration on Project Ensemble and Project San. Together, we will explore Payment versus Payment (PvP) and Delivery versus Payment (DvP) tokenisation use cases, including trade payments and carbon credits.  The objective of such central bank collaboration is to lay a foundation for the private sector to build on and turn into concrete businesses.  That should be the focus going forward.

    Conclusion

    To conclude, I would just say that the China-ASEAN corridor is definitely expanding at a rapid pace, and Hong Kong is right in the middle. In performing our role as an international financial centre, apart from leveraging on our traditional strengths in banking services and capital markets, we need to focus more on three things: digitalisation, sustainability, and engagement.  I hope this introduction will help set the scene for your discussions through the day, and I wish you all a very successful conference.

    MIL OSI Economics –

  • MIL-OSI: ACET (ACT) Secures MOU with Saif Belhasa Holding, Paving the Way for Blockchain-Powered Finance in the UAE

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 17, 2025 (GLOBE NEWSWIRE) — ACET (ACT), a global blockchain-driven digital asset, has signed a landmark Memorandum of Understanding (MOU) with Saif Belhasa Holding (SBH), one of the most influential business conglomerates in the Middle East and UAE. This collaboration is set to revolutionize the region’s digital economy, integrating ACET (ACT) into financial transactions across various industries within the SBH ecosystem.

    Since Donald Trump became President with pro-crypto policies, ACET (ACT) has witnessed a remarkable price surge of over 100%, reflecting heightened market confidence and increased adoption of blockchain-based financial solutions.

    A Strategic Partnership with Multi-Billion-Dollar Impact

    The agreement, signed on February 13, 2025, marks a significant milestone for both ACET (ACT) and SBH. Led by Dr. Saif Ahmad Belhasa, SBH manages a diverse business empire spanning real estate, construction, automotive, retail, education, and finance, with a corporate valuation exceeding $5 billion USD.

    This partnership is structured around a three-year roadmap to integrate ACET (ACT) as a key financial instrument within SBH’s operations, focusing on:

    • Real Estate – ACET (ACT) will facilitate luxury real estate transactions, with plans to implement NFT-based Property Tokenization for fractional ownership.
    • Automotive – Customers will be able to purchase and lease luxury vehicles from SBH dealerships using ACET (ACT), along with crypto-backed financing options.
    • Retail & Hospitality – ACET (ACT) will be accepted in malls, restaurants, hotels, and other SBH-affiliated businesses, offering exclusive VIP perks and discounts for token holders.
    • Financial Services – The partnership will introduce blockchain-powered financial products, including staking, lending, and investment funds tailored for institutional investors and family offices.
    • Smart Contracts & AI Integration – ACET (ACT) will be embedded into SBH’s financial infrastructure, enabling automated transactions, asset transfers, and AI-enhanced business solutions.
    • Institutional Expansion & Government Collaboration – The initiative aims to align with UAE’s financial regulations, securing recognition from Dubai’s Virtual Asset Regulatory Authority (VARA) and Abu Dhabi Global Market (ADGM).

    Crypto Market Reacts: ACET (ACT) Gains Momentum

    Following the MOU announcement, crypto investors and influencers across the world have hailed this deal as a game-changer for real-world-asset (RWA) crypto adoption. The market response has been overwhelmingly bullish, fueling a viral hashtags like #iHoldACT, #ACTxSBH, #ACTRWA and #ACT100X dominating discussions.

    Industry Leaders on the Partnership

    Acme Worawat, founder of ACT (ACET) and one of Asia’s largest Bitcoin holders, emphasized:

            “This partnership transforms ACET (ACT) into a fundamental component of the UAE’s digital economy. With SBH’s global presence, ACET (ACT) is poised for exponential growth beyond the Middle East, driving mainstream crypto adoption worldwide.”

    Dr. Saif Ahmad Belhasa, Chairman of SBH, added:

            “This MOU marks SBH’s bold step into blockchain finance, positioning us as a leader in digital payments. ACET (ACT) will be officially integrated into our financial ecosystem, making crypto a mainstream financial tool in the UAE and beyond.”

    About ACET (ACT) & SBH

    ACET (ACT) was founded in 2021 by Acme Worawat, a veteran crypto investor with over 13 years of experience. With a current trading volume of $412million (Approximately 14Billion THB) and over 156,000 holders worldwide, ACET (ACT) is rapidly emerging as a top-tier digital asset.

    Saif Belhasa Holding (SBH), established in 2001, is one of the most powerful business groups in the UAE, with a vast portfolio spanning 50+ subsidiaries and over 10,000 employees across various industries.

    With this partnership, ACET (ACT) is set to become one of the most widely adopted cryptocurrencies in institutional finance and real-world commerce. The bull run is on!

    Social Links:

    X: https://x.com/ACTDeFansFi

    Telegram: https://t.me/ACTAcet

    Media contact:
    Brand: ACET
    Contact: Corporate Communication Division
    Email: media@acet.finance
    Website: https://acet.finance/

    Disclaimer: This content is provided by Acet Finance. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. 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 as financial, investment, or trading advice. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/62035c52-66f6-48e1-903e-015fa27ee8db

    The MIL Network –

  • MIL-OSI: Sustain SoCal to Host Second Annual Sustainable Communities: Solutions in Resiliency Conference

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., Feb. 17, 2025 (GLOBE NEWSWIRE) — via InvestorWire — Sustain Southern California (“Sustain SoCal”) is proud to host the Sustainable Communities: Solutions in Resiliency conference to be held on Thursday, February 20, 2025. The in-person event will take place at The Cove at UCI Beall Applied Innovation, located at 5270 California Ave., Irvine, CA 92617.

    Following its successful launch in 2024, we are pleased to organize the second edition of this event, addressing housing-related concerns, including critical issues such as climate readiness and availability, resilience in the face of environmental disruptions, the changing landscape of insurance, fire safety, and local self-resiliency.

    Given recent fire emergencies in states such as California’s unchecked urbanization, water quality risk as a result of burn zone runoff, and instability in our energy grid, the demand for such a forum has never been greater. This one-of-a-kind conference is where innovation meets sustainability. Among the promising advancements driving the transformation of communities is the integration of digital twin technologies, helping usher in an era of eco-conscious urban development.

    This event will unite industry veterans, renowned pioneers, thought leaders, and policy influencers from Southern California and surrounding regions. Invaluable perspectives and practical insights will be explored, fostering dialogue and collaboration to drive the transformation of communities into vibrant, resilient, and sustainable hubs.

    The conference agenda will include dynamic, insights-rich sessions such as:

    • Housing: How Climate Readiness & Availability Intersect
    • How Beneficial Fire Will Mitigate the Wildfire Crisis: An Environmental Liability Solution
    • Water Management as Key to Disaster Preparedness & Cleanup
    • Wildfire Resilience: How Smart Buildings Safeguard Critical Infrastructure
    • Microgrids & Mobile Energy Units as Emergency Resources

    The event will also feature the Innovator Showcase, a special exhibition where attendees can interact with cutting-edge innovations to help achieve responsible, sustainable urban and suburban living.

    The conference also provides attendees with a unique opportunity to engage directly with key experts, industry peers, enthusiastic researchers, and students.

    C. Scott Kitcher, President and CEO of Sustain SoCal, reiterated the significance of this event: “What began as an event to lay the foundation for Sustain SoCal’s extensive 2025 program has quickly transformed into a complex discussion about climate resilience and emergency preparedness in light of the recent LA fires. This event will examine a multitude of lessons learned when it comes to housing development, the changing landscape of insurance, water quality, the research needed in regards to ecological buffer zones, microgrid applications in times of evacuation and emergency response, and much more. Conversations kicked off during Sustainable Communities: Solutions in Resiliency will be continued throughout the upcoming year in our Communities Working Group, offered to Sustain SoCal Members.”

    For more information and registration details, visit: https://sustainsocal.org/event/sustainable-communities/

    About Sustain SoCal
    Sustain SoCal, a non-profit organization, accelerates sustainability and economic growth through innovation, collaboration and education in Southern California. The organization has a ten-year history in exploring and implementing pragmatic, real-world solutions to the challenges created by growth, change and inefficiency. It conducts conferences, workshops and networking events that lead to initiatives that positively impact our region’s economic progress and sustainability. For more information, please visit www.sustainsocal.org.

    About IBN

    IBN is a cutting-edge communications and digital engagement platform providing tailored Platform Solutions for select private and public companies. Over the course of 18+ years, IBN has introduced over 65+ investor facing brands to the investment public and amassed a collective audience of millions of social media followers. These distinctive investor brands amplify recognition and reach as well as help fulfill the unique needs of our rapidly growing and diverse base of client-partners. IBN will continue to expand our branded network of influential properties as well as leverage the energy and experience of our team of professionals to best serve our clients.

    IBN’s Platform Solutions provide access to: (1) our Dynamic Brand Portfolio (DBP) through 65+ investor facing brands; (2) article and editorial syndication to 5,000+ news outlets; (3) full-scale distribution to a growing social media audience; (4) a network of wire solutions via InvestorWire to effectively reach target markets and demographics; (5) Press Release Enhancement to ensure accuracy and impact; (6) a full array of corporate communications solutions; and (7) total news coverage solutions.

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    The MIL Network –

  • MIL-OSI Economics: Christodoulos Patsalides: Cyprus and the euro area – navigating growth, stability, and opportunities

    Source: Bank for International Settlements

    I would like to thank the Cyprus Shipping Chamber for giving me the opportunity to address this meeting today and discuss key economic developments. My remarks will begin with an overview of Cyprus’ economic performance. I will then discuss the notable progress achieved in the banking sector and underscore the critical role of the shipping industry in driving export revenues. Following this, I will turn to the broader economic outlook for the Euro Area, concluding with insights into the European Central Bank’s latest monetary policy decision on achieving price stability.

    Domestic economic outlook

    The Cypriot economy continues to exhibit robust growth, despite facing persistent external challenges in a turbulent and uncertain global environment. Geopolitical risks, such as the ongoing war in Ukraine, conflicts in the Middle East, and rising international tensions, have elevated economic uncertainty.

    Amidst these conditions, the Cypriot economy has consistently demonstrated remarkable resilience and flexibility. This is clearly reflected in its recent upgrades by credit rating agencies to the “A” category, further cementing its reputation in international financial markets. These upgrades underscore the growing confidence in Cyprus’s fiscal policies and the solid outlook for its economic and banking systems.

    Improved fiscal performance has been a cornerstone of these positive developments. Public debt has been reduced significantly, declining from 114% of GDP in 2020 to 74% in 2023, highlighting disciplined financial management. Projections from the Ministry of Finance indicate that this downward trajectory will continue, with public debt expected to fall below 50% of GDP by 2028. This progress strengthens fiscal sustainability and enhances the country’s ability to respond to future challenges, reflecting a strong commitment to long-term economic stability.

    According to the December 2024 projections of the Central Bank of Cyprus (CBC), economic growth for 2024 is expected to reach 3.7%, significantly higher than the projected Eurozone average of 0.7%. The expansion of productive sectors such as technology, trade, tourism, financial and professional services, shipping, and construction-particularly large private sector infrastructure projects-has been a key driver of growth.

    For the period 2025-2027, GDP is expected to grow by approximately 3% annually, driven primarily by a projected increase in domestic demand and, to a lesser extent, external demand. Domestic demand is expected to be supported by a rise in private consumption due to the increase in real disposable household income and the continued resilience of the labour market. Additionally, domestic demand will benefit from ongoing large-scale private non-residential investments, infrastructure projects aimed at supporting digital and green development, and other reform projects under the Recovery and Resilience Plan.

    Regarding the shipping sector in particular, our small island has a maritime history spanning hundreds of years, and it is rightly is considered as one of the main pillars of the Cypriot economy. The country’s maritime industry considerably contributes directly and indirectly to the country’s GDP. Based on 2023 data, the shipping sector ranks third with a share of 17.2% to the total value of exports of services, after the Information and Communication Technology sector, the financial services and the tourism sectors, with shares of 30.2%, 20.3% and 11,5% respectively. In view of the aforementioned figures, it is evident that the sector managed to stay focused and strong despite the unprecedented challenges faced in the last few years, namely the covid pandemic, the wars in Ukraine and Gaza as well as the tensions in the Red Sea. 

    The strength of the labour market further reinforces this positive narrative. Unemployment has declined to 5% in the first nine months of 2024, compared to 5.8% in 2023. It is projected to remain at 5% for the full year and to fall further to 4.6% by 2027, approaching levels indicative of full employment. These figures compare favourably to the euro area, where unemployment is forecast to stabilize at 6.1% by 2027.

    On the prices front, inflationary pressures have eased significantly, with inflation dropping to 2.2% in the first eleven months of 2024, compared to 4.1% in the same period of 2023. According to the CBC’s December 2024 projections, inflation is expected to stabilize near the 2% medium-term target, reaching 1.9% in 2025, 2.1% in 2026, and 2.0% in 2027.

    The Cyprus banking sector

    The Cyprus banking sector has demonstrated tangible progress and resilience, with key financial metrics reflecting a strong and sound performance. A primary indicator of this strength is the solid improvement in terms of solvency, with the Common Equity Tier 1 (CET1) ratio increasing from 21.5% in December 2023 to 23.5% in September 2024. This increase marks the highest CET1 ratio in the Union, surpassing the EU average of 16.0%.

    Despite the challenges posed by consecutive crises, no tangible signs of credit quality deterioration are observed up to this point. In fact, the Non-Performing Loans (NPL) ratio has continued its positive downward trend. As of September 2024, the NPL ratio stands at 6.5%, a marked improvement from 7.9% in December 2023. This reduction reflects the sector’s ongoing commitment to addressing legacy issues, bolstering the financial health of the asset side of its balance sheet, and reinforcing its capacity to support economic recovery. Yet, there is still some way to go, particularly considering that the average NPL ratio of the EU sector stands as of September 2024 at 1.9%. Furthermore, the improvement within the Cyprus banking sector has not been homogeneous across all institutions, with certain banks lagging behind. These institutions must therefore accelerate their efforts to align with the sector-wide advancements.

    Profitability metrics have been robust, with the Return on Equity (RoE) reaching 23.2% in September 2024 as opposed of 11,1% of the EU average. Operational efficiency has improved as the cost-to-income ratio declined to 35.5%, a notable reduction from previous years and lower than the EU average of 53%.

    Cyprus banks also exhibit some of the highest liquidity standings in the EU, reinforcing their ability to meet potential liquidity demands. The Liquidity Coverage Ratio (LCR), a measure of a bank’s ability to withstand large liquidity outflows under a stressed period, stands as of September 2024 at 336%, compared to the EU average of 161% and minimum requirement of 100%. Furthermore, the Net Stable Funding Ratio (NSFR), which assesses the stability of a bank’s funding base, stands also high at 187%, surpassing both the EU average of 127% and the minimum regulatory requirement of 100%. The Cypriot banking sector is thus well-positioned to face potential market disruptions and continue driving economic stability.

    Through the first 11 months of 2024, Cypriot banks granted €3.3 billion in new loans to households and non-financial corporations (NFCs), surpassing the already high €2.9 billion provided during the same period in 2023. A negative side effect of a strongly liquid banking sector in a small country is the slow adjustment of interest rates in response to ECB monetary policy actions. Banks must exhibit responsible pricing policies in the face of reputation risk and the need to support the competitiveness of the economy.

    Looking to the future, the banking sector faces challenges such as adapting to AI, mitigating cyber risks, addressing geopolitical uncertainties, and transitioning to a greener economy. Tackling these priorities is essential for sustaining the sector’s positive trajectory and remains central to our supervisory agenda.

    Economic Developments in the Euro Area

    The risks to economic growth continue to lean towards the downside. Increased disruptions in global trade may hinder euro area growth by suppressing exports and slowing the global economy. Additionally, reduced confidence could delay the recovery of consumption and investment beyond current expectations. The ECB’s December projections estimate economic growth of 0.7% in 2024, 1.1% in 2025, 1.4% in 2026, and 1.3% in 2027. This recovery is expected to be driven primarily by rising real incomes, which should enable households to boost consumption, alongside increased investment by firms.

    On the price front, euro area inflation rose to 2.4%, in December 2024, up from 2.2% in November, primarily driven by increased energy costs but this was expected due to energy-related upward base effects.

    Despite the upticks in recent months, the disinflation process is well on track. ECB Staff see headline inflation averaging 2.4 per cent in 2024, 2.1 per cent in 2025, 1.9 per cent in 2026 and 2.1 per cent in 2027 when the expanded EU Emissions Trading System becomes operational. Services inflation continues to be sticky at around 4%, largely stemming from the delayed catch-up adjustment of certain services prices to past inflation surges and ongoing wage pressures. At the same time, recent signals point to continued moderation in wage pressures and to the buffering role of profits.

    Inflation is expected to fluctuate around its current level in the near term. It should then settle sustainably at around the two per cent medium-term target. Easing labour cost pressures and the continuing impact of past monetary policy tightening on consumer prices should help this process. Most measures of longer-term inflation expectations continue to stand at around 2 per cent.

    ECB Monetary Policy

    Based on our updated assessment of the inflation outlook, underlying inflation dynamics, and the effectiveness of monetary policy transmission, we decided at our January Governing Council meeting to further reduce the three key ECB interest rates by 25 basis points. This adjustment brought the deposit facility rate-the primary tool for steering our monetary policy stance-to 2.75%

    Overall, the euro area’s economic environment remains intricate, with the risks to economic growth tilted to the downside and with both upside and downside risks to inflation present. The ECB continues to navigate these challenges through measured, careful adjustments in its monetary policy stance. Growth is a factor influencing inflation dynamics. It is crucial to ensure that the economy does not grow too slowly, as this could lead to inflation stabilizing below the target. As we move forward, in the current environment of elevated uncertainty stemming from potential global trade frictions and geopolitical tensions, the ECB’s prudent data-dependent meeting by meeting approach shall continue to be important in addressing the evolving economic conditions within the euro area to ensure the timely return to the inflation target in a sustainable manner. The ECB is not pre-committing to a particular rate path.

    Conclusion

    Let me now conclude: the Cypriot economy has shown resilience and adaptability, supported by strong performance, prudent fiscal policies, and a stable financial system, with key contributions from banking and shipping. As one of the pillars of our economy, the shipping sector continues to demonstrate global competitiveness and innovation, further strengthening Cyprus’s position as a leading maritime hub. Looking ahead, challenges like climate change and geopolitical risks demand strategic foresight, but Cyprus is well-prepared to sustain growth.

    At the Euro Area level, the economic outlook balances risks and opportunities, with the ECB ensuring price stability and sustainable growth through proactive, data-driven policies. By remaining data-driven and proactive, we can ensure that the monetary framework across the region remains resilient and responsive to evolving global dynamics.

    Thank you.

    MIL OSI Economics –

  • MIL-OSI Global: Cutting funding for science can have consequences for the economy, US technological competitiveness

    Source: The Conversation – USA – By Chris Impey, University Distinguished Professor of Astronomy, University of Arizona

    National Institutes of Health indirect costs, which are under the knife, go toward managing laboratories and facilities. Fei Yang/Moment via Getty Images

    America has already lost its global competitive edge in science, and funding cuts proposed in early 2025 may further a precipitous decline.

    Proposed cuts to the federal agencies that fund scientific research could undercut America’s global competitiveness, with negative impacts on the economy and the ability to attract and train the next generation of researchers.

    I’m an astronomer, and I have been a senior administrator at the University of Arizona’s College of Science. Because of these roles, I’m invested in the future of scientific research in the United States. I’m worried funding cuts could mean a decline in the amount and quality of research published – and that some potential discoveries won’t get made.

    The endless frontier

    A substantial part of U.S. prosperity after World War II was due to the country’s investment in science and technology.

    Vannevar Bush founded the company that later became Raytheon and was the president of the Carnegie Institution. In 1945, he delivered a report to President Franklin D. Roosevelt called The Endless Frontier.

    In this report, Bush argued that scientific research was essential to the country’s economic well-being and security. His advocacy led to the founding of the National Science Foundation and science policy as we know it today. He argued that a centralized approach to science funding would efficiently distribute resources to scientists doing research at universities.

    The National Science Foundation awards funding to many research projects and early career scientists. Pictured are astronomers from the LIGO collaboration, which won a Nobel Prize.
    AP Photo/Andrew Harnik

    Since 1945, advances in science and technology have driven 85% of American economic growth. Science and innovation are the engines of prosperity, where research generates new technologies, innovations and solutions that improve the quality of life and drive economic development.

    This causal relationship, where scientific research leads to innovations and inventions that promote economic growth, is true around the world.

    The importance of basic research

    Investment in research and development has tripled since 1990, but that growth has been funded by the business sector for applied research, while federal investment in basic research has stagnated. The distinction matters, because basic research, which is purely exploratory research, has enormous downstream benefits.

    Quantum computing is a prime example. Quantum computing originated 40 years ago, based on the fundamental physics of quantum mechanics. It has matured only in the past few years to the point where quantum computers can solve some problems faster than classical computers.

    Basic research into quantum physics has allowed quantum computing to develop and advance.
    AP Photo/Ross D. Franklin

    Worldwide, basic research pays for itself and has more impact on economic growth than applied research. This is because basic research expands the shared knowledge base that innovators can draw on.

    For example, a biotech advocacy firm calculated that every dollar of funding to the National Institutes of Health generates US$2.46 in economic activity, which is why a recent cut of $9 billion to its funding is so disturbing.

    The American public also values science. In an era of declining trust in public institutions, more than 3 in 4 Americans say research investment is creating employment opportunities, and a similar percentage are confident that scientists act in the public’s best interests.

    Science superpower slipping

    By some metrics, American science is preeminent. Researchers working in America have won over 40% of the science Nobel Prizes – three times more than people from any other country. American research universities are magnets for scientific talent, and the United States spends more on research and development than any other country.

    But there is intense competition to be a science superpower, and several metrics suggest the United States is slipping. Research and development spending as a percentage of GDP has fallen from a high of 1.9% in 1964 to 0.7% in 2021. Worldwide, the United States ranked 12th for this metric in 2021, behind South Korea and European countries.

    In number of scientific researchers as a portion of the labor force, the United States ranks 10th.

    Metrics for research quality tell a similar story. In 2020, China overtook the United States in having the largest share of the top 1% most-cited papers.

    China also leads the world in the number of patents, and it has been outspending the U.S. on research in the past few decades. Switzerland and Sweden eclipse the United States in terms of science and technology innovation. This definition of innovation goes beyond research in labs and the number of scientific papers published to include improvements to outcomes in the form of new goods or new services.

    Among American educators and workers in technical fields, 3 in 4 think the United States has already lost the competition for global leadership.

    Threats to science funding

    Against this backdrop, threats made in the beginning of President Donald Trump’s second term to science funding are ominous.

    Trump’s first wave of executive orders caused chaos at science agencies as they struggled to interpret the directives. Much of the anxiety involved excising language and programs relating to diversity, equity and inclusion, or DEI.

    The National Science Foundation is particularly in the crosshairs. In late January 2025, it froze the routine review and approval of grants and new expenditures, impeding future research, and has been vetting grants to make sure they comply with orders from the U.S. president.

    The National Institutes of Health announced on Feb. 7, 2024 a decision to limit overhead rates to 15% which sent many researchers reeling though it has since been temporarily blocked by a judge. The National Institutes of Health is the world’s largest funder of biomedical research, and these indirect costs provide support for the operation and maintenance of lab facilities. They are essential for doing research.

    The new administration has proposed deeper cuts. The National Science Foundation has been told to prepare for the loss of half of its staff and two-thirds of its funding. Other federal science agencies are facing similar threats of layoffs and funding cuts.

    The impact

    Congress already failed to deliver on its 2022 commitment to increase research funding, and federal funding for science agencies is at a 25-year low.

    As the president’s proposals reach Congress for approval or negotiation, they will test the traditionally bipartisan support science has held. If Congress cuts budgets further, I believe the impact on job creation, the training of young scientists and the health of the economy will be substantial.

    Deep cuts to agencies that account for a small fraction – just over 1% – of federal spending will not put a dent in the soaring budget deficit, but they could irreparably harm one of the nation’s most valuable enterprises.

    Chris Impey has received funding from NASA, the National Science Foundation, and the Howard Hughes Medical Institute.

    – ref. Cutting funding for science can have consequences for the economy, US technological competitiveness – https://theconversation.com/cutting-funding-for-science-can-have-consequences-for-the-economy-us-technological-competitiveness-249568

    MIL OSI – Global Reports –

  • MIL-OSI: KK MINER Unveils New High-Yield Investment Opportunities, Offering Investors Up to $50,000 Daily

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 17, 2025 (GLOBE NEWSWIRE) — KK MINER, a leading cloud mining platform, has launched its latest series of high-yield cloud mining contracts, offering investors new opportunities to earn substantial daily profits through Bitcoin (BTC) and Dogecoin (DOGE) mining. With cutting-edge technology and a global network of investors, KK MINER continues to redefine passive income in the cryptocurrency industry.

    Revolutionizing Cloud Mining with Industry-Leading Returns

    KK MINER’s cloud mining ecosystem has already attracted over 6 million investors worldwide, collectively contributing nearly $50 billion in investment funds. These funds enable KK MINER to deploy extensive Bitcoin computing power, securing approximately 5.5% of the global hash rate. With the current Bitcoin output of 6.5 BTC every 10 minutes, KK MINER earns approximately 0.2275 BTC per cycle, equating to a projected daily revenue of over $546,000 at a Bitcoin price of $100,000.

    New Mining Contracts with Enhanced Profit Potential

    In response to growing demand, KK MINER has unveiled its latest cloud mining contracts, designed to maximize investor returns. The new contract options provide flexible investment amounts and durations, ensuring both new and experienced investors can capitalize on the booming cryptocurrency market. Notable offerings include:

    • BTC [Super Hash Power] II – $100,000 investment, 30-day term, 3.45% daily return ($3,450/day, $103,500 total profit)
    • Classic Hash Power – $3,000 investment, 20-day term, 1.58% daily return ($948 total profit)
    • BTC-Advanced Hash Power – $10,000 investment, 45-day term, 1.91% daily return ($8,595 total profit)
    • Experience Hash Power – $100 investment, 2-day term, 4% total return ($8 profit)

    Profits are automatically credited to investor accounts daily, with the option to withdraw funds upon reaching $100 or reinvest in additional contracts for compounded gains.

    Exclusive Rewards & Referral Program

    To further incentivize participation, KK MINER offers additional benefits for investors:

    Join KK MINER Today and Secure Your Passive Income

    With a track record of stability and high returns, KK MINER remains a top choice for cryptocurrency investors looking for secure and profitable mining solutions. To explore available mining contracts and start earning passive income, visit https://kkminer.top/ or download the KK MINER Download Mobile App today.

    About KK MINER – KK MINER is a global leader in cloud mining services, leveraging state-of-the-art mining technology and strategic investments to offer secure, profitable, and accessible cryptocurrency mining solutions to millions worldwide.

    Contact:
    KK MINER
    Email: info@kkminer.top
    Website: https://kkminer.top/

    Disclaimer: This press release is provided by KKMiner. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. 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 as financial, investment, or trading advice. Investing in cloud mining and 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.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b1e30b7d-3f3e-4311-b8cd-88c70bb5d4ee

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e5ec03c1-47f1-4b6a-b5d5-840675c3a340

    https://www.globenewswire.com/NewsRoom/AttachmentNg/f091f88e-0d15-4cc4-97bd-3fd1d583b1ae

    https://www.globenewswire.com/NewsRoom/AttachmentNg/6a51c692-62f1-4b12-b2b6-3f275fd51938

    The MIL Network –

  • MIL-OSI: 3D Systems’ Co-founder & Chief Technology Officer for Regenerative Medicine, Chuck Hull, Elected to the National Academy of Engineering

    Source: GlobeNewswire (MIL-OSI)

    ROCK HILL, S.C., Feb. 17, 2025 (GLOBE NEWSWIRE) — Today, 3D Systems (NYSE: DDD) announced Charles (Chuck) Hull, its co-founder and chief technology officer for regenerative medicine, has been elected to the National Academy of Engineering (NAE). Election to the NAE is among the highest professional distinctions accorded to an engineer. Academy membership honors those who have made outstanding contributions in at least one of the following categories: “engineering practice, research, or education,” “pioneering of new and developing fields of technology, major advancements in traditional fields of engineering, or development/implementation of innovative approaches to engineering education,” or “engineering leadership of one or more major endeavors.” NAE members are among the world’s most accomplished engineers from business, academia, and government. Mr. Hull is being honored for the invention of 3D printing and the subsequent development of the additive manufacturing industry. 

    “It is humbling to be elected to this academy of distinguished engineers,” said Mr. Hull. “I’m honored and excited to serve and work alongside such outstanding professionals to advance the positive impact engineering has on our world.”

    Mr. Hull pioneered the development of 3D printing while Vice President of Engineering at UVP, Inc. (now Analytik Jena), a manufacturer of ultraviolet light sources. His work on fusing UV resins into 3D structures for prototyping led to the creation of the first 3D-printed part, an eye wash cup, in 1983 using Stereolithography (SLA). He patented this technology and subsequently co-founded 3D Systems in 1986, launching the first commercial 3D printer, the SLA-1, and thus establishing the 3D printing industry.

    Mr. Hull’s groundbreaking invention has earned him numerous accolades. In October of 2023, he received the National Medal of Technology and Innovation (NMTI) from President Joe Biden. Established in 1980, the NMTI is the United States’ highest honor for technological achievement, awarded by the President of the United States for outstanding contributions to America’s economic, environmental, and social well-being. Mr. Hull was inducted into the National Inventors Hall of Fame (2014) and received the European Inventor Award (2014) for his transformative impact. His contributions have also been recognized with the Manufacturing Leadership Lifetime Achievement Award (2016), the ASME’s designation of the SLA-1 as a Historic Mechanical Engineering Landmark, and The Economist’s 2013 Innovation Award. With 85 US patents and numerous international patents in ion optics and 3D printing, Mr. Hull’s legacy as an inventor is firmly established.

    “On behalf of the entire 3D Systems team, it is my pleasure to extend our deepest congratulations to Chuck for this honor,” said Dr. Jeffrey Graves, president & CEO, 3D Systems. “His pioneering work has revolutionized manufacturing and profoundly impacted healthcare delivery. Chuck’s invention of Stereolithography not only launched an entire industry but also sparked the proliferation of numerous applications for 3D printing technologies. Whether we look at aerospace, personalized healthcare solutions, AI infrastructure, or the automotive industry, 3D printing is playing a significant role in how these industries innovate. Thanks to Chuck’s groundbreaking initial innovation with SLA, we are transforming manufacturing and patient care for a better future.”

    Mr. Hull is among 128 new members and 22 international members in the NAE Class of 2025. Elected by their peers, the ballot for this class was set in December and the final vote took place in January. He and his class will be formally inducted during the NAE’s Annual Meeting on October 5, 2025.

    Forward-Looking Statements
    Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as “believes,” “belief,” “expects,” “may,” “will,” “estimates,” “intends,” “anticipates” or “plans” or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions, and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings “Forward-Looking Statements” and “Risk Factors” in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or review any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise, except as required by law.

    About 3D Systems
    More than 35 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading additive manufacturing solutions partner, we bring innovation, performance, and reliability to every interaction – empowering our customers to create products and business models never before possible. Thanks to our unique offering of hardware, software, materials, and services, each application-specific solution is powered by the expertise of our application engineers who collaborate with customers to transform how they deliver their products and services. 3D Systems’ solutions address a variety of advanced applications in healthcare and industrial markets such as medical and dental, aerospace & defense, automotive, and durable goods. More information on the company is available at www.3dsystems.com.

    Investor Contact: investor.relations@3dsystems.com
    Media Contact: press@3dsystems.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d059ac89-1e4b-4118-b82f-04fa9bed475a

    The MIL Network –

  • MIL-OSI Security: Man sentenced to life in prison for killing neighbour in Harrow

    Source: United Kingdom London Metropolitan Police

    A man has been sentenced to life in prison for the murder of Robert Weston in Harrow, following an investigation by the Met’s Specialist Crime Command.

    Jaden Sheriff, 20 (22.01.05) of Forston Street, Hackney, was sentenced at the Old Bailey on Friday, 14 February to life with a minimum term of 19 years’ imprisonment.

    Detectives launched a murder investigation after police were called at 14:05hrs on Monday, 26 February 2024 to Hamilton Crescent, Harrow following reports that a man had been stabbed.

    Robert, a Hackney resident, was found with two stab wounds, including one to the heart. Despite the best efforts of the emergency services, he was pronounced dead at the scene.

    Detective Inspector Devan Taylor, who led the investigation into the murder, said:

    “Robert was just 37-years-old when he lost his life in this senseless attack, killed by someone who should have been a friend and neighbour.

    “Jaden Sheriff now has to spend the rest of his life knowing he killed a man.

    “No amount of time will make up for the pain Robert’s family have endured at losing their loved one.

    “They have conducted themselves with great dignity throughout the trial and our thoughts remain with them as they continue to process what happened.”

    In initial interviews with officers, Sheriff claimed he accidentally stabbed Robert in self-defence, alleging he had pulled a knife on him.

    However, witnesses gave police a different account, saying Sheriff had set upon Robert following a dispute.

    Forensic evidence revealed his wounds could only have been caused by a deliberate stabbing to the chest.

    Investigators obtained phone records, which showed Robert had called 999 to complain about Sheriff just three days before he was stabbed.

    He told police that he’d been “threatened” in his own house after an argument with the Sheriff; a statement which was used at trial to illustrate the spiralling relationship between the two men, culminating in murder just days later.

    Officers worked quickly to arrest Sheriff the day after the incident.

    He was arrested on suspicion of murder on Tuesday, 27 February 2024 and subsequently charged with murder and possession of an offensive weapon in the early hours of Thursday, 29 February 2024.

    He was found guilty of murder by a jury at the Old Bailey on Thursday, 30 January.

    MIL Security OSI –

  • MIL-OSI: US Court of Appeals Rules in Favor of US Synthetic Corporation in ITC Case

    Source: GlobeNewswire (MIL-OSI)

    THE WOODLANDS, Texas, Feb. 17, 2025 (GLOBE NEWSWIRE) — ChampionX Corporation (NASDAQ: CHX) (“ChampionX”) noted today that its US Synthetic Corp., a leading provider of polycrystalline diamond cutters for oil and gas drilling, has secured a significant legal victory as the U.S. Court of Appeals for the Federal Circuit (CAFC) reversing a prior International Trade Commission (ITC) determination that had deemed the company’s patent claims ineligible under 35 U.S.C. § 101.

    The case, involving U.S. Patent No. 10508502, pertains to a polycrystalline diamond compact (PDC) used in rotary drill bits, which exhibits superior diamond to diamond bonding. The ITC had initially ruled that the patent’s claims were directed to an abstract idea, arguing that the disclosed magnetic properties were merely side effects of the manufacturing process rather than physical characteristics of the compound. However, the Federal Circuit disagreed, finding that the claims described a specific composition of matter and not an abstract idea, reinforcing that the magnetic properties provide meaningful insights into the PDC’s physical characteristics.

    “We are extremely pleased with the Federal Circuit’s decision, which reaffirms the validity of our patent and the importance of our innovation,” said Rob Galloway, President at US Synthetic. “This ruling not only protects our intellectual property but also underscores the significance of our technology in advancing drilling performance and efficiency.”

    About US Synthetic
    US Synthetic, which is the Drilling Technologies segment of ChampionX, offers innovative, top-quality polycrystalline diamond cutters (“PDC”), bearings, valves, and mining tools to help customers drill the world’s most demanding oil exploration and development projects, and for use in other industries. These highly specialized products are developed and produced based on more than 40 years of innovation and intellectual property development in material science applications.

    About ChampionX
    ChampionX is a global leader in chemistry solutions, artificial lift systems, and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely, efficiently, and sustainably around the world. ChampionX’s expertise, innovative products, and digital technologies provide enhanced oil and gas production, transportation, and real-time emissions monitoring throughout the lifecycle of a well. To learn more about ChampionX, visit our website at www.championX.com.

    Investor Contact: Byron Pope, byron.pope@championx.com, 281-602-0094

    Media Contact: John Breed, john.breed@championx.com, 281-403-5751

    The MIL Network –

  • MIL-OSI United Kingdom: Fatal accident at Bourneview footpath crossing, Kenley

    Source: United Kingdom – Executive Government & Departments

    Investigation into a fatal accident involving a child at Bourneview footpath crossing, Kenley, London Borough of Croydon, 23 January 2025.

    Bourneview footpath crossing (courtesy of British Transport Police).

    At around 08:04 on 23 January 2025, a child was struck by a train and fatally injured while crossing the railway on Bourneview footpath crossing, situated between Whyteleafe and Kenley in the London Borough of Croydon.  The train involved was travelling at about 50 mph (80 km/h) at the time of the accident.

    Bourneview footpath crossing provides access for pedestrians between two residential areas of Kenley. The crossing has gates on either side of the railway and is provided with signage which instructs users how to cross.  

    Our investigation will determine the sequence of events that led to the accident and will include consideration of:

    • the factors which may have affected the decisions and actions of the child as they used the crossing
    • any previous incidents at Bourneview footpath crossing and how these may be relevant to this accident
    • the management of risk at this crossing and Network Rail’s wider strategy for assessing and mitigating risks at footpath crossings
    • any relevant underlying factors

    Our investigation is independent of any investigation by the railway industry or by the industry’s regulator, the Office of Rail and Road.

    We will publish our findings, including any recommendations to improve safety, at the conclusion of our investigation. This report will be available on our website.

    You can subscribe to automated emails notifying you when we publish our reports.

    Updates to this page

    Published 17 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Digital health adoption in China to accelerate with rapidly evolving AI landscape, says GlobalData

    Source: GlobalData

    Digital health adoption in China to accelerate with rapidly evolving AI landscape, says GlobalData

    Posted in Medical Devices

    The artificial intelligence (AI) sector in China is undergoing swift evolution, positioning it as a key driver for the expansion of the country’s digital health market. Accordingly, the digital health market in China is forecasted to grow at a compound annual growth rate (CAGR) of approximately 30% between 2024 and 2033, according to GlobalData, a leading data and analytics company.

    GlobalData’s report, “China Digital Health Market Outlook and Forecast to 2033 – Electronic Health Records, Regulatory Approved Apps and Telehealth,” reveals that in 2024, China accounted for approximately 20% of the digital health market in the Asia-Pacific (APAC) region. The considerable market share highlights the growing investments in AI-powered solutions and their increasing implementation in the healthcare industry.

    Pratibha Thammanabhatla, Medical Devices Analyst at GlobalData, comments, “The shift towards digital health represents a substantial advancement in conventional healthcare practices. These latest solutions possess the potential to improve convenience and accessibility for patients, especially in remote and resource-constrained environments. The increasing focus on preventive care and continuous health monitoring is anticipated to catalyze widespread adoption of these models.”

    Chinese firms such as DeepSeek, Panoptic AI, Tencent, and Alibaba are substantially investing in AI technologies. In the face of intensifying competition within China’s AI industry, Baidu has announced that its artificial intelligence chatbot, Ernie Bot, featuring an enhanced search function, would be accessible free of charge starting in April of this year. Given the availability of choices, the selection of a suitable model is imperative in healthcare applications to ensure that patients benefit from enhanced disease diagnosis and personalized treatment recommendations.

    Thammanabhatla concludes: “The growing utilization of digital health applications among the Chinese consumers, combined with significant investments from both private and public sectors including the latest National AI Industry Investment Fund, is anticipated to further propel innovations in the forthcoming years. This trend also suggests the possibility of considerable investment opportunities within China’s digital health industry.”

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Speech by CE at South China Morning Post China Conference: Southeast Asia 2025 (English only) (with video)

    Source: Hong Kong Government special administrative region

         Following is the video speech by the Chief Executive, Mr John Lee, at the South China Morning Post China Conference: Southeast Asia 2025 today (February 17):
          
    Your Excellency Minister Tengku Zafrul Aziz (Minister of Investment, Trade and Industry of Malaysia), officials and friends from ASEAN (Association of Southeast Asian Nations) and around the world, Ms Catherine So (Chief Executive Officer of South China Morning Post), Ms Tammy Tam (Editor-in-Chief of South China Morning Post), distinguished guests, ladies and gentlemen,
          
         Good afternoon. I am pleased to join you today, virtually, at this remarkable conference in Kuala Lumpur.
          
         For that, I am grateful to the South China Morning Post for organising the China Conference: Southeast Asia, and for putting a prime spotlight on the substantive roles played by China, our country, and Southeast Asia in shaping the global agenda, now and long down the road.
          
         To that end, you have heard today from His Excellency Prime Minister Anwar Ibrahim, as well as a wealth of senior governmental, business and financial leaders and decision-makers from Malaysia, throughout ASEAN and around the world.
          
         For the next few minutes, allow me to speak about Hong Kong – about the role we play in working with our country and in connecting with member states of ASEAN and far beyond.
          
         Long a “super connector”, Hong Kong takes pride in creating value for traditional and emerging markets. We are the natural bridge for ASEAN business looking to Mainland Chinese markets and opportunities. We are, as well, the conduit for Mainland businesses looking to explore overseas opportunities, whether in ASEAN, the Middle East or elsewhere.
          
         Indeed, the Mainland and ASEAN are our two largest trade-in-goods partners, with total trade value reaching US$619 billion and US$165 billion respectively last year.
          
         We are home to about 2 600 offices with parent companies on the Mainland, up 20 per cent over 2023 totals. Last year, too, some 730 offices with parent companies in ASEAN maintained an office in Hong Kong. That’s an increase of about 10 per cent year on year.
          
         And I am confident of continuing growth in the coming years, given the ASEAN-Hong Kong, China Free Trade Agreement and related Investment Agreement, as well as the recently signed amendment to the Agreement on Trade in Services of CEPA – the Mainland and Hong Kong Closer Economic Partnership Arrangement.
          
         The new CEPA Agreement introduces service-sector liberalisation measures, making it easier for Hong Kong suppliers, and international companies with offices in Hong Kong, to do business on the Mainland.
          
         As you know, CEPA is nationality neutral, so I encourage ASEAN companies to enjoy Hong Kong’s world-class professional services and, in doing so, make full use of CEPA in accessing the Mainland market. 
          
         Alongside strong business ties with ASEAN, our people-to-people bonds are long-standing and mutually rewarding. 
          
         Since assuming office, in July 2022, I have led high-profile Hong Kong delegations to seven of the 10 ASEAN countries. Nearly 90 co-operation agreements between Hong Kong and ASEAN countries have been signed over that period – and in so many areas, from economic and trade matters to innovation and technology, cultural exchange, education and more.
          
         And I am committed to building on our gratifying ties.
          
         We have relaxed the criteria for nationals of Cambodia, Laos, Myanmar and Vietnam applying for multiple-entry visas to Hong Kong. We have, as well, extended their validity period from two to three years. 
          
         We will also provide self-service immigration clearance for invited ASEAN-country visitors participating in business, development and related activities in Hong Kong.
          
         And for ASEAN and other non-Chinese residents working in Hong Kong and wishing to travel to the Mainland, the multiple-entry visas have been extended for up to five years, making Mainland entry from Hong Kong fast and efficient.
          
         And to make our ASEAN friends feel at home in Hong Kong, we are compiling a list of restaurants offering halal food, while encouraging hotels and other establishments to provide appropriate worship services.
          
         There’s more. We’re making it easier to communicate with ASEAN business. In addition to our Economic and Trade Offices in Singapore, Jakarta and Bangkok, we are working with the Malaysian government to establish a trade office in Kuala Lumpur.
          
         Allow me to thank ASEAN member states for their staunch support of our accession to the Regional Comprehensive Economic Partnership, the world’s largest free trade agreement. I count on leaders like your good selves to support Hong Kong’s accession bid. 
          
         Ladies and gentlemen, I wish you all the best of business, health and well-being in this auspicious Chinese New Year – the Year of the Snake.
          
         Thank you.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: SFST’s keynote speech at ASIFMA Annual Conference 2025 (English only) (with photo)

    Source: Hong Kong Government special administrative region

         Following is the keynote speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the Asia Securities Industry & Financial Markets Association (ASIFMA) Annual Conference 2025 today (February 17):
     
    Peter (Chief Executive Officer of the ASIFMA, Mr Peter Stein), distinguished guests, ladies and gentlemen,
     
         Good morning. It is my great pleasure to join the ASIFMA Annual Conference today, where global leaders, policymakers, and industry experts gather to explore new growth opportunities in the midst of an unprecedented transformation in the global environment.
     
         Our financial market is characterised by deep liquidity, diverse financial products and services, strong emphasis on investor protection, a well-educated and highly efficient workforce, ease of entry for non-local professionals, and effective and transparent financial regulations aligned with international standards. These competitive advantages have been widely recognised by various international institutions. Hong Kong ranked first as Asia’s leading international financial hub in the latest Global Financial Centres Index. Recently, the International Monetary Fund also reaffirmed that our financial system remains resilient, supported by robust institutional frameworks, ample policy buffers, and the smooth functioning of the Linked Exchange Rate System.
     
         And so far, we have made good progress in developing the stock market. Hong Kong’s stock market surged by some 18 per cent and the average daily turnover jumped by 26 per cent from a year earlier. We were also the world’s fourth-largest and Asia’s second-largest initial public offering (IPO) market, with IPO proceeds at about HK$80 billion last year, which is almost double that in the year before last. To strengthen the competitiveness of our market, we have implemented a range of measures including optimising the vetting procedures of listing applications, enhancing the listing regime for specialist technology companies, and enabling market trading under severe weather, to name just a few.
     
         To further boost the efficiency and liquidity of our stock market, the Government, in collaboration with the regulators and HKEX (Hong Kong Exchanges and Clearing Limited), is continuously exploring different market development measures to further enhance our listing regime and trading mechanism, with a view to strengthening overall market competitiveness and expanding our overseas networks. A consultation ongoing is the one concerning optimisation of our IPO price discovery and open market requirements. The consultation will last till March 19 and I am sure Peter will make sure that you are being heard.
     
         The Hong Kong bond market has continued to grow in tandem with the Government’s active promotion. Hong Kong has been the largest centre for arranging bonds issued in the region by Asia-based entities for 16 consecutive years, with nine years being the leader internationally, capturing about a quarter of the market in 2023.
     
         The Government and the regulators will continue to promote the advantages of our bond market to issuers and investors on the Mainland and overseas to deepen our bond market development. We will expand the issuance of Renminbi bonds and support the issuance of more green and sustainable offshore Renminbi bonds in Hong Kong by Mainland and international issuers.
     
         We are expanding our mutual access programmes with the Mainland’s financial market, too. They include expanding the scope of eligible ETFs (exchange-traded funds) under Stock Connect, optimising the arrangements under Swap Connect, as well as the latest enhancement and expansion of Southbound trading of Bond Connect, improving transaction and settlement efficiency while broadening the investment channels for Mainland and offshore investors.
     
         The Government, in collaboration with the regulators and HKEX, will continue to work closely with the Mainland to implement the measures supported by regulators in the two places, including the introduction of Mainland government bond futures in Hong Kong and inclusion of a Renminbi counter under Southbound trading of Stock Connect, and actively exploring further enhancement initiatives.
     
         Building an international gold trading centre is a new growth point for Hong Kong to cement our status as an international financial centre. The Government will promote the development of world-class gold storage facilities and, building on the increased gold holding, scale up associated support and financial services and expand related derivative transactions, hence creating a comprehensive ecosystem in a progressive manner. We already set up a working group last year and we are now working at full steam to formulate a comprehensive implementation plan. Furthermore, we are committed to increasing the storage and delivery of commodities in Hong Kong, not only precious metals but also base metals, and providing better services to Mainland enterprises engaging in international commodity trade. To achieve this, we will facilitate the relevant international commodity exchange which is the London Metal Exchange (LME) to set up accredited warehouses in Hong Kong, enhance associated financial services, and also support the creation of a thriving commodity trading ecosystem.
     
         If you may recall, the 2024 Policy Address announced that the Government will facilitate the opening of new distribution channels for private equity (PE) funds through HKEX’s listings. Alternate asset funds, including PE funds, as eligible collective investment schemes (CISs), may apply for listing in Hong Kong under Chapter 20 of our Listing Rules. The SFC (Securities and Futures Commission) has been engaging with HKEX, industry associations and interested fund managers to explain the relevant regulatory and requirements. On that front, the SFC plans to issue a circular very soon this month to clarify the requirements for authorising closed-end alternative funds for listing on HKEX. The SFC also plans to issue a discussion paper in the first quarter of this year to seek the industry’s views on the viability of allowing retail investors to invest in unlisted alternative funds without committing on any rule changes.
          
         We will also attract more global capital to be managed in Hong Kong. Last March, we launched the New Capital Investment Entrant Scheme. So far, around HK$6.5 billion has been invested. If you look at the amount of financial assets being invested through this HK$6.5 billion, most of them go to financial products, with 45 per cent going to CISs, 39 per cent going to equities and 15 per cent going to debt securities. From March this year, we will relax the net assessment and calculation requirements. We will also accept investments made through an applicant’s wholly owned eligible private company. In addition, we will enhance the profits tax exemption regimes for funds and single family offices. The Government will also put in place an inward company redomiciliation regime which provides a simple and straightforward route for non-Hong Kong incorporated companies to transfer their domicile to Hong Kong while ensuring business continuity. We are confident that these measures will help to bring in more of the world’s top companies and of course talent to our city.
          
         We also strive to deepen our reforms and explore new growth areas using a new mindset amidst changing circumstances. A new growth opportunity is green and sustainable finance, a fast-developing area on the back of climate change. Hong Kong is a leading green and sustainable finance hub in Asia. The total green and sustainable debt, including both bonds and loans, issued in Hong Kong exceeded US$50 billion in 2023. Among which, the volume of green and sustainable bonds arranged in Hong Kong topped the Asian market, accounting for 37 per cent of the regional total.
          
         To solidify the competitiveness of enterprises in Hong Kong to address the global demand for sustainability disclosure, we launched a roadmap on sustainability disclosure in Hong Kong. The roadmap provides a well-defined pathway for large publicly accountable entities (PAEs) to fully adopt the ISSB Standards (International Financial Reporting Standards – Sustainability Disclosure Standards) no later than 2028, leading Hong Kong to be among the first jurisdictions to align our local requirements with those of the ISSB Standards.
            
         Fintech is a new growth area and also one of the new strategic areas. On this front, we issued a policy statement last year to set out the policy stance and approach for promoting the responsible application of artificial intelligence in the financial market. Regarding the sustainable development of virtual assets, we have enhanced the regulatory framework and introduced a bill last year on the regulation of fiat-referenced stablecoin issuers. In addition, the Government will put forward a proposed licensing regime for virtual asset custodian service providers.
          
         And in fact, if you look at the calendar of key events this year, we will very soon have the conference Consensus Hong Kong 2025 which is a world-renowned Web3 global conference. This is the first time they will land in Asia and they have picked Hong Kong as their first stop.
          
         Ladies and gentlemen, the opportunities in Hong Kong are immense despite the complex geopolitical and economic landscape. As we actively integrate into and embrace the opportunities presented by the national development strategies, Hong Kong will remain as an ideal gateway connecting the Mainland capital market with the rest of the world, and provide a prime location and platform for international businesses and investors to tap into the vast business potential and investment opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area, Mainland China and beyond, and of course include the Middle East, ASEAN (Association of Southeast Asian Nations) and India as covered in this year’s conference in many more years to come.
          
         As a leading global financial centre, we will continue to expand and enrich our dynamic capital markets and liquidity pool as well as diversify our product and services offerings to better serve both regional and international investors. We welcome you all to use Hong Kong as a platform to grab the opportunities and at the same time to give us more comments and also views in terms of how we can grow this market further. Thank you.   

    MIL OSI Asia Pacific News –

  • MIL-OSI: Two Enlight Facilities Win Bids in the Israel Electricity Authority’s Energy Storage Tender and the Company Expects to Construct Total Storage Capacity in the Range of 1,300 to 1,900 MWh

    Source: GlobeNewswire (MIL-OSI)

    TEL AVIV, Israel, Feb. 17, 2025 (GLOBE NEWSWIRE) — Enlight Renewable Energy (“Enlight”, “the Company”, NASDAQ: ENLT, TASE: ENLT.TA), a leading renewable energy platform, announced today that two of the Company’s energy storage facilities have won bids in the Israel Electricity Authority’s first availability tariff tender process. The two sites, Neot Smadar and Ohad, are located in the south of Israel and have a combined grid connection capacity of 300 MW AC.

    According to the tender’s terms, after supplying power at the availability tariff rate for five years, the Company may transition to selling electricity into the deregulated market as well as increase the facilities’ storage capacity. Securing a grid connection of 300 MW AC will allow Enlight to build projects with a total storage capacity of 1,300 MWh, potentially rising to 1,900 MWh following the transition into the deregulated market. According to the tender’s terms, the projects are expected to reach commercial operation by 2028.

    The combined construction cost of the two facilities is expected to range between $210-250 million, depending on the ultimate amount of capacity the Company decides to build. The projects are expected to generate combined average annual revenues of $75-85 million and combined average annual EBITDA of $37-42 million over the full life of the projects.

    Enlight has approximately 8 GWh of Mature1 storage projects that are expected to enter into operations by 2027. In addition, the Company has a portfolio of energy storage assets in various stages of development totaling approximately 25 GWh, of which about 6 GWh are located in Israel. The two sites selected in the tender represent 20% of the total capacity awarded through the bidding process, further solidifying Enlight’s leadership of Israel’s energy storage market as the only company with significant presence in both medium-voltage and high-voltage storage sectors.

    Gilad Peled, CEO of Enlight MENA commented, “Enlight is proud to lead the energy storage revolution in Israel with a significant double win, representing 20% of the total capacity in the Israel Electricity Authority’s tender. Our success underscores Enlight’s leadership of the storage sector, and these projects will join the Israel Solar and Storage cluster that is already in operation. The massive investment in constructing these facilities in the south of Israel will contribute to greater energy security and create numerous jobs. Our advanced storage facilities in Neot Smadar and Ohad are part of Enlight’s broader vision to lead the transition to renewable energy production in Israel. We are proud to be part of this historic trend, accelerating the shift to clean energy, enhancing competition, and reducing electricity prices for Israel’s citizens.”

    1 Mature projects are defined as currently operating, under construction, and pre-construction (with construction start within a 0-12 month timeframe).

    About Enlight Renewable Energy

    Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind and energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its U.S. IPO (Nasdaq: ENLT) in 2023. Learn more at www.enlightenergy.co.il.

    Contacts:

    Yonah Weisz
    Director IR
    investors@enlightenergy.co.il

    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    +1 617 542 6180
    investors@enlightenergy.co.il

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s expectations relating to the Project, the PPA and the related interconnection agreement and lease option, and the completion timeline for the Project, are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; the potential impact of the current conflicts in Israel on our operations and financial condition and Company actions designed to mitigate such impact; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, tariffs, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) and our other documents filed with or furnished to the SEC.

    These statements reflect management’s current expectations regarding future events and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as may be required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

    The MIL Network –

  • MIL-OSI Africa: Islamic Finance Expands Africa’s Energy Investment Landscape, Strengthening Arab-African Cooperation

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

    PARIS, France, February 17, 2025/APO Group/ —

    Africa’s energy sector is seeing growing interest from Islamic financial institutions, as demonstrated by the recent $400 million Murabaha financing secured by Africa Finance Corporation (AFC). This transaction not only underscores the growing role of Islamic finance in Africa’s infrastructure development, but also highlights significant opportunities for deeper financial cooperation between Arab and African nations in the energy sector.

    The strong demand for AFC’s facility, which attracted 11 Islamic financial institutions – including Abu Dhabi Islamic Bank, Al Rajhi Bank and Emirates Islamic Bank – signals growing appetite among Middle Eastern banks to engage in Africa’s development. The facility, upsized from an initial $300 million due to high investor interest, reinforces AFC’s strategy to diversify its funding base and aligns with broader efforts to expand energy investment partnerships between Arab and African countries.

    Islamic finance is emerging as a key source of funding for Africa’s energy sector, particularly for large-scale infrastructure projects. The Murabaha financing structure used in AFC’s deal aligns with Sharia principles, offering an attractive and ethical investment vehicle for Middle Eastern and North African financial institutions seeking exposure to African markets. This move complements AFC’s recent $500 million hybrid bond issuance and the corporation’s ongoing efforts to attract diverse capital sources, including potential Panda bonds in China.

    Opportunities for Arab Investment in Africa’s Energy Future

    The increasing participation of Islamic banks and financial institutions presents a strategic opportunity for Middle Eastern nations to play a larger role in Africa’s energy transition. Countries such as the UAE, Saudi Arabia and Qatar have well-capitalized financial institutions and sovereign wealth funds that can accelerate Africa’s energy infrastructure expansion, particularly in natural gas, renewables and power generation.

    Arab nations already have a growing footprint in Africa’s energy sector. The UAE’s Masdar has been investing in renewable projects across North and sub-Saharan Africa – committing $10 billion to deliver 10 GW of clean energy capacity in Africa by 2030 – while Saudi Arabia’s ACWA Power has been involved in developing solar and desalination projects across the continent. QatarEnergy has been actively advancing hydrocarbon exploration in Africa, expanding its interests in Namibia’s offshore Orange Basin, while ADNOC has strengthened its footprint by acquiring a 10% stake in the Area 4 concession of Mozambique’s Rovuma Basin. However, there remains significant untapped potential for Arab-African cooperation, particularly in financing LNG terminals, gas-to-power projects and oil and gas exploration. Countries like Egypt, Algeria and Libya, which straddle both regions, can serve as financial and logistical bridges between Middle Eastern investors and African energy markets.

    The Role of Energy-Focused Islamic Finance

    The AFC’s Murabaha financing comes at a time when global Islamic finance is experiencing sustained growth, with assets expected to see high single-digit expansion through 2025, according to S&P Global Ratings. This growth is supported by strong balance sheets, high profitability and increasing regulatory backing. The surge in Islamic finance presents a timely opportunity for African energy projects, which require significant capital investment to meet the continent’s growing energy demand.

    One of the major advantages of Islamic finance is its alignment with sustainable investment principles, making it particularly attractive for funding Africa’s energy transition. In addition to AFC’s investment in renewable energy ventures such as Xlinks’ renewable energy initiative and the expansion of Lekela Power’s 3 GW capacity target, Islamic financial institutions could extend their involvement to Africa’s gas sector, which is viewed as a transitional fuel to bridge the energy gap.

    Strengthening Arab-African Partnerships at IAE 2025

    The increasing role of Middle Eastern finance in Africa’s energy sector will be a critical focus at the upcoming Invest in African Energy (IAE) Forum in Paris this May.  Serving as the premier African energy project showcase outside of the continent, IAE 2025 provides a space for African governments, investors and key financial players from the Middle East to explore new partnerships and drive investment in gas, LNG and broader energy infrastructure projects. By tapping into Islamic finance, African countries can secure critical capital to accelerate its energy development. At the same time, Arab nations stand to benefit from deeper economic integration with Africa, gaining access to new markets and resources. The AFC’s successful Murabaha financing serves as a strong indicator that the time is ripe for greater energy sector collaboration between Africa and the Middle East.

    IAE 2025 (http://apo-opa.co/4hC0kAA) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 13-14, 2025 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

    MIL OSI Africa –

  • MIL-OSI: DDB Miner Launches New Cloud Mining Contracts, Allowing Users to Earn Up to $5,950 Daily with XRP

    Source: GlobeNewswire (MIL-OSI)

    BIRMINGHAM, United Kingdom, Feb. 17, 2025 (GLOBE NEWSWIRE) — DDB Miner, a leader in renewable energy-powered cloud mining, has announced the launch of new mining contracts that enable users to start mining Bitcoin using Ripple (XRP) and other cryptocurrencies. With an innovative approach to passive income, DDB Miner now provides an accessible and eco-friendly way for individuals to generate daily earnings of up to $5,950 without requiring complex setups or technical expertise.

    The Future of Cloud Mining with Renewable Energy

    DDB Miner leverages renewable energy sources such as solar and wind to power its mining farms, significantly reducing operational costs and environmental impact. This model not only ensures sustainable profitability but also integrates surplus energy into the grid, contributing to a greener future.

    New Cloud Mining Contracts – Higher Profits, Zero Hassle

    The newly introduced cloud mining contracts cater to both beginners and experienced investors. With flexible investment options, users can choose from different contract tiers starting as low as $100, making cryptocurrency mining more accessible than ever. Some of the standout features include:

    • $12 instant bonus upon registration. (click to register in one click).
    • Daily payouts with high profitability.
    • No additional service fees or administrative charges.
    • Support for multiple cryptocurrencies, including BTC, ETH, XRP, USDT, and more.
    • Affiliate program with bonuses up to $22,000 for referrals.
    • Guaranteed 100% uptime and 24/7 customer support.

    How to Get Started

    1. Sign Up: Create an account on the DDB Miner platform in minutes.
    2. Choose a Mining Contract: Select from different investment plans based on your budget and earning goals.
    3. Start Mining & Earn Daily: Watch your earnings grow with passive income payouts starting the next day.

    For example, users who invest $5,000 in an advanced computing power contract can earn $75 per day, totaling $7,250 in 30 days (including the initial investment).

    Exclusive XRP Mining Opportunity

    DDB Miner’s latest update introduces a Ripple (XRP)-based mining model, allowing users to start Bitcoin mining directly with XRP. This opens a new avenue for XRP holders looking to diversify their income streams and maximize returns.

    Join the Passive Income Revolution

    With over 9 million users worldwide and 100+ mining farms, DDB Miner continues to lead the cloud mining industry with cutting-edge technology and sustainable energy practices. The platform’s latest offerings provide an effortless way to build crypto wealth, making mining accessible to everyone.

    If you want to learn more about DDB Miner, please visit its official website:https://ddbminer.com/

    or from Google Play or Apple Store Download our mobile app.

    Media Contact:
    Katerina Audrey
    DDB Miner Media Relations
    Email: info@ddbminer.com

    Disclaimer: This press release is provided by “DDB Miner”. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. 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 as financial, investment, or trading advice. Investing in cloud mining and 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.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/492aa884-73ef-4dd8-bd73-feebcd14dcc3

    https://www.globenewswire.com/NewsRoom/AttachmentNg/8dc6f59c-9c07-4245-a43d-2a12b9dcb2ec

    https://www.globenewswire.com/NewsRoom/AttachmentNg/dca9463a-616b-4336-9bd6-f17341e9d04f

    The MIL Network –

  • MIL-OSI: Baltic Horizon Fund publishes its NAV for January 2025

    Source: GlobeNewswire (MIL-OSI)

    The net asset value (NAV) per unit of the Baltic Horizon Fund (the Fund) slightly increased to EUR 0.6834 at the end of January 2025 (0.6833 as of 31 December 2024). The month-end total net asset value of the Fund was EUR 98.1 million (EUR 98.1 million as of 31 December 2024). The EPRA NRV as of 31 January 2025 stood at EUR 0.7266 per unit.

    In January 2025, the consolidated net rental income of the Fund increased to EUR 1.0 million (EUR 0.9 million in December 2024).

    At the end of January 2025, the Fund’s consolidated cash and cash equivalents amounted to EUR 8.8 million (31 December 2024: EUR 10.1 million). Cash decreased mostly due to investments in tenant fit-outs of approx. EUR 0.9 million.

    As of 31 January 2025, the total consolidated assets of the Fund were EUR 255.4 million (31 December 2024: EUR 256.0 million).

    For additional information, please contact:

    Tarmo Karotam
    Baltic Horizon Fund manager
    E-mail tarmo.karotam@nh-cap.com
    www.baltichorizon.com

    The Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS. 

    Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com

    To receive Nasdaq announcements and news from Baltic Horizon Fund about its projects, plans and more, register on www.baltichorizon.com. You can also follow Baltic Horizon Fund on www.baltichorizon.com and on LinkedIn, Facebook, X and YouTube.

    The MIL Network –

  • MIL-OSI China: ‘Ne Zha 2’ finishes top five at N. American box office on opening weekend

    Source: China State Council Information Office 3

    Chinese animated blockbuster “Ne Zha 2” rounded out the top five at the North American box office on its opening weekend, making it the biggest opening weekend for any Chinese production in recent years.

    Data from measurement firm Comscore showed on Sunday that the highly-anticipated film has generated an estimated three-day cume of 7.2 million U.S. dollars in North America through Sunday.

    The animated epic fantasy film’s North American pre-sale box office alone has exceeded the opening weekend box office record in North America for any Chinese-language film in the past 20 years.

    Marvel’s “Captain America: Brave New World” debuted atop the North American box office this weekend with an estimated 88.5 million dollars in 4,105 theaters.

    “Ne Zha 2” is being released by CMC Pictures in Mandarin with English subtitles in about 750 selected theaters in North American cities including Los Angeles, San Francisco, Houston, Chicago, New York, Boston, Atlanta, Toronto, Vancouver and a few other cities with a large overseas Chinese population, according to the company.

    Paul Dergarabedian, a senior media analyst at Comscore, noted that “Ne Zha 2” is a “global box office juggernaut.”

    “The widely reported global box office success and amazing reviews of this incredible and beautifully presented animated film has put it high on the must-see list for movie fans in the North American market and that was reflected in the solid numbers this weekend,” he told Xinhua.

    A lady, who gave her name as Emily Li, told Xinhua that she brought her two children to watch the movie.

    “Kids love the story. They even watched the original Ne Zha film online in advance for the plot,” she added.

    “Ne Zha 2” is a sequel to the 2019 animated blockbuster “Ne Zha.” Both films were inspired by China’s 16th-century classic novel “The Investiture of the Gods.”

    The animated film has captivated Chinese audiences with its exquisite animation production, grand visual imagination and rich cultural expression. After opening on Jan. 29, the film swiftly smashed box office records, becoming the highest-grossing film of all time in China.

    As the film continues its record-breaking run, it has grossed an astounding 11.9 billion yuan (about 1.64 billion U.S. dollars) through Sunday. It has become the first non-Hollywood production to break into the top 20 highest-grossing films ever worldwide.

    Industry insiders believe the Chinese movie is on track to becoming the highest-grossing animated film of all time globally. So far, the highest-grossing animated film of all time is Disney’s 2024 film “Inside Out 2,” which earned 1.699 billion dollars worldwide.

    The success of “Ne Zha 2” has attracted widespread attention from the international media.

    CNN reported that “An unruly Chinese boy who battles dragons and defies destiny has made his way to Western cinema screens after smashing box office records in China.”

    “For decades, China’s movie market had been dominated by Hollywood blockbusters. But in recent years, homegrown titles — in genres from action and sci-fi to romance and animation — have increasingly outpaced Western films, a pivot fueled by rising cultural pride, more sophisticated storytelling and rapid technological progress,” the news outlet said.

    MIL OSI China News –

  • MIL-OSI Australia: Suspicious Death – Royal Darwin Hospital

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force is investigating the circumstances of a suspicious death of a 39-year-old female at Royal Darwin Hospital this afternoon.

    Around 9:00am, Emergency Services received reports of a seriously ill woman at a residence in Humpty Doo. St John Ambulance attended and conveyed the woman to Royal Darwin Hospital in a critical condition where she later passed away. Police attended the hospital and have since commenced an investigation into the circumstance of her death.

    A crime scene has been established at a rural residence.

    A 39-year-old male, known to the woman, was arrested and is assisting police with enquiries.

    Investigations remain ongoing into the exact circumstances and cause of the woman’s death. Police will release further information as the investigation progresses.

    MIL OSI News –

  • MIL-OSI United Kingdom: Coventry budget plans for 2025/26 better than predicted 

    Source: City of Coventry

    A report on Coventry City Council’s budget plans for April 2025 to March 2026 will recommend that fewer savings are needed than first feared.

    Councillors will hear that the Local Authority has received a better than expected funding package from the government and that, coupled with the Council’s rigorous and careful approach to its financial planning, means not all of the cutbacks consulted on will be needed. 

     
    There will also be £2.2m of one-off investment to boost services covering highways, street cleansing, community safety and community events. 

     
    However, financial challenges are still there as the Council tries to deal with the impact of chronic historical underfunding.  
     

    Cllr Richard Brown, Cabinet Member for Finance and Resources, said: “I have always said that we should hope for the best but prepare for the worst and the settlement from the government is better than expected.  
     
    “We have always been very careful with our financial management, and ongoing work has put us in a better financial position than many other local councils. It means that many of the savings identified won’t be needed, which I’m really pleased about.  
     
    “We’ve listened to the consultation feedback from the public and stakeholders and have identified areas that we are recommending should not now be included in the budget setting process. 
     
    “At the same time, looking at the years ahead, the same challenges are still here. A combination of higher demand on services, inflation, and historical underfunding leaves us still well below the national average of government funding compared to other councils.”  

     
    Savings proposals that are no longer needed include: 

    • Voluntary Sector Review in adult social care    
    • Reductions in funding of street cleaning  
    • Plans to increase War Memorial Car Park charges   
    • Changes to The Council Tax Support Scheme   
    • Reductions in funding to parks and open spaces  

     
    Despite the improved financial position, the Council will still be forced to announce an increase in Council Tax. 
     

    Cllr Brown added: “We still have to increase Council Tax to achieve a balanced budget, and this is an expectation that the government places on all local authorities. In future years I hope that reforms to the Council Tax system can be introduced that reduce the burden on local residents. 

    “The additional money we are receiving is welcome and it is good to know that the new government is listening to what we have been saying and the lobbying we have been doing on a fairer funding deal for local authorities for the last two years is being heard. 

    “That work will continue because if the city received the national average, then we’d have an additional £17m for our services for the residents in the city and we would be talking about investment in services rather than savings.

     “We are not asking for special treatment but just that funding more accurately reflects the levels of need, demand and deprivation the city has overall.”   
     

    The Council is already investing £10m in new, LED streetlights that more efficient than the lights they will replace.  It means that eventually lights will be kept on overnight through the savings made.   
     
    The Council is also proposing setting aside more than £2m in additional one-off funding to improve services. It includes £700,000 extra for road and pavement defects and £500,000 for tackling fly-tipping – two of the issues highlighted by residents during the recent consultation. 
     
    The Council report will be considered at its full Council meeting by all Council members on Tuesday 25 February before a final decision is made.  
     
    Financial pressures facing the Council include:  

    • Approximately 83 per cent of the Council’s net budget is spent on three areas – homelessness, adult social care and children’s social care – up from just over 50 per cent in 2010. It leaves less than 17 per cent to pay for hundreds of other services the Council delivers every year.  
    • This year the Council is already having to make £30m savings, on top of savings in previous years.   
    • In the past 14 years there have been significant reductions in staff employed by the Council from 10,000 to 5,000, yet the city’s population has grown by 18 per cent in that time.   
    • Over the past 14 years, Coventry’s core spending power has fallen in real terms by £1.6bn. That’s more than £100m (one average) every year.    
    • In real terms, Coventry’s core spending power has fallen on average by over £100m every year or, in other words, we have £653 less to spend on every Coventry household.    
    • Coventry’s spending power is also one of the lowest funding per head at £46  less per head compared to other councils nationally. The equivalent of £17m of a year.    

    MIL OSI United Kingdom –

  • MIL-OSI: Danske Bank share buy-back programme: transactions in week 7

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 7 2025 Danske Bank
    Bernstorffsgade 40
    DK-1577 København V
    Tel. + 45 33 44 00 00

    17 February 2025
    Page 1 of 1

    Danske Bank share buy-back programme: transactions in week 7

    On 7 February 2025, Danske Bank A/S announced a share buy-back programme for a total of DKK 5 billion, with a maximum of 45,000,000 shares, in the period from 10 February 2025 to 30 January 2026, at the latest, as described in company announcement no. 6 2025.

    The Programme is carried out in accordance with Article 5 of Regulation (EU) No 596/2014 of the European Parliament and Council of 16 April 2014 (the “Market Abuse Regulation”) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

    The following transactions on Nasdaq Copenhagen A/S were made under the share buy-back programme in week 7:

      Number of shares VWAP DKK Gross value DKK
    Accumulated, last announcement – – –
    10/02/2025 5,000 232.3009 1,161,505
    11/02/2025 5,000 232.4115 1,162,058
    12/02/2025 5,000 233.1137 1,165,569
    13/02/2025 5,000 229.9277 1,149,639
    14/02/2025 5,000 231.1261 1,155,631
    Total accumulated over week 7 25,000 231.7760 5,794,400
    Total accumulated during the share buyback programme 25,000 231.7760 5,794,400

    With the transactions stated above, the total accumulated number of own shares under the share buy-back programme corresponds to 0.003% of Danske Bank A/S’ share capital.

    Danske Bank

    Contact: Claus Ingar Jensen, Head of Group Investor Relations, tel. +45 25 42 43 70

    Attachment

    The MIL Network –

  • MIL-OSI Economics: Joint Statement by the Saudi Finance Minister and IMF Managing Director on Supporting Recovery in the Middle East’s Conflict-Affected Economies

    Source: International Monetary Fund

    February 17, 2025

    Al Ula, Saudi Arabia, – February 16, 2025: On the sidelines of the inaugural annual global Conference on Emerging Market Economies in Al Ula, Saudi Arabia (February 16-17), the Saudi Finance Ministry and the International Monetary Fund (IMF) co-hosted a high-level roundtable on “Working Together to Support Recovery in the Middle East’s Conflict-Affected Economies”, bringing together finance ministers of countries in the region, the Foreign Affairs Minister of Syria, representatives from the World Bank, and heads of other International Financial Institutions and the Arab Coordination Group.

    Following the meeting, Kristalina Georgieva, Managing Director of the IMF, and Mohammed Aljadaan, Finance Minister of Saudi Arabia, made the following statement:

    “This important meeting brought together representatives from the Middle East and key economic and development partners to discuss how we can work together to support recovery in the Middle East’s conflict-affected economies.”

    “We thank all participants for recognizing the urgency and importance of this task, as well as for their commitment to work together to ensure that the conflict-affected countries can start addressing their humanitarian needs. This would help them start rebuilding their economies in an efficient, swift, and durable way for the benefit of their people.”

    “Participants welcomed the meeting as an opportunity to discuss recent developments and build a common understanding of the challenges facing conflict-affected countries. They emphasized the importance of strengthening coordination to support the recovery of these countries as the spillovers would impact all. Particular attention was paid to the situation in Syria.”

    Participants agreed on the following priorities to support conflict-affected countries:

    • A Continuous Diagnosticof the challenges and economic and social context facing each conflict-affected country, including an assessment of humanitarian and reconstruction needs. Such a diagnostic should identify institution-building priorities, gaps in policies, and financing needs.
    • Enhanced Capacity Development (CD) aimed at rapidly scaling up IMF and World Bank CD initiatives to help strengthen and, as needed, build new institutions. Support would need to be tailored to strengthen essential functions of fiscal, monetary and banking institutions.
    • Mobilization of financial assistance from the international community . Financial support—coordinated with international and regional development partners—will be needed to fund comprehensive reform programs, including reconstruction and humanitarian aid.

    “Participants underscored their readiness to work together and complement each other’s efforts while focusing on their institutional mandates. They will continue to work closely and with other partners to further support the international response to the recovery of conflict-affected economies in the Middle East region.”

    They agreed to establish an informal coordination group to support these efforts. Discussions will be continued at the upcoming IMF/World Bank Spring Meetings on April 21-26 in Washington, D.C.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Wafa Amr

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

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