Category: Finance

MIL-OSI: Sampo plc: Managers’ Transactions (Rauramo)

Source: GlobeNewswire (MIL-OSI)

Sampo plc, managers’ transactions, 10 February 2025 at 11:30 am EET

Sampo plc: Managers’ Transactions (Rauramo)

Sampo plc (business code 0142213-3) has received the following notification under Article 19 of the Market Abuse Regulation. Shares have been acquired in accordance with the decision of Sampo’s Annual General Meeting on 25 April 2024.

____________________________________________

Person subject to the notification requirement
Name: Markus Rauramo
Position: Member of the Board/Deputy member
Issuer: Sampo plc
LEI: 743700UF3RL386WIDA22
Notification type: INITIAL NOTIFICATION
Reference number: 95481/6/6
____________________________________________

Transaction date: 2025-02-07
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI4000552500
Nature of transaction: RECEIPT OF A SHARE-BASED INCENTIVE

Transaction details
(1): Volume: 42 Unit price: 40.7559 EUR

Aggregated transactions (1):
Volume: 42 Volume weighted average price: 40.7559 EUR
____________________________________________

SAMPO PLC

Sami Taipalus
Head of Investor Relations
tel. +358 10 516 0030

Distribution:
Nasdaq Helsinki
Nasdaq Stockholm
Nasdaq Copenhagen
London Stock Exchange
FIN-FSA
The principal media
www.sampo.com

The MIL Network –

February 10, 2025
MIL-OSI New Zealand: Spaghetti Government
Source: ACT Party

The Haps

The country turned 185 on Thursday, but not everyone wanted to celebrate and debate. David Seymour’s address is here. They turned their backs and took his microphone, but nobody actually tried to argue that division based on ancestry is better than liberal democracy.

Spaghetti Government

Just over a year ago the New Zealand Initiative, a think tank, released a short and brilliant report on Government in New Zealand. Cabinet Congestion: The Growth of a ministerial maze.

The gist of the report is that our Government has far more Ministers, and far more portfolios, than similar-sized countries. For example the Government of Ireland has fifteen ministers with eighteen portfolios and eighteen departments.

Once upon a time New Zealand was roughly like that. Cabinet had sixteen ministers who all attended the main Cabinet meeting. Each Minister had one or two departments they were responsible for, and that was also their portfolio. For example, if you were the Minister of Police, you were responsible for Police, Police was your portfolio, and you were the only Minister of Police.

Then came the MMP and the Government required multiple parties. It meant the Bolger Government needed to share power, but wouldn’t. Instead, Ministerial power was diluted with a little water in the wine.

National negotiated the position of ‘Treasurer’ for Winston Peters, because they couldn’t imagine giving up Finance. The idea of a Minister outside Cabinet was also born, meaning Ministers who don’t attend the main Cabinet meeting. Four of these new Ministers meant 20 in total.

Not to be outdone, Helen Clark formed an even bigger Government three years later. Cabinet expanded to 20 Ministers, and Ministers outside cabinet doubled to eight. Then there were 28.

Not much has changed since then, except for an eruption of portfolios and departments. We now have a Ministry for Pacific Peoples, and a Ministry for Ethnic Affairs. Then there are portfolios without a specific department, including Racing, Mental Health, Auckland, the South Island, to name a few of the 78 Portfolios that now exist.

There are other complications. For example needing to pick nearly 30 Ministers from a Government majority of just over 60 MPs affects quality. It means nearly half of MPs are Ministers when their ‘side’ is in Government. There’s been more than a few in recent years who wouldn’t have got a job like being a Minister otherwise.

Most Ministers have multiple portfolios, around three to four on average. They’ll be less effective at, say, improving foreign relations if they’re also responsible for local government (Nanaia Mahuta was terrible at both). They’ll be less effective because they can’t specialise, but also because a specialist is less likely to be appointed in the first place.

On the other hand, many departments have multiple ministers. There are three in Education, but that’s nothing compared with the 18 that MBIE is responsible to. Who is in charge?

As the Initiative report argues, confusion empowers the bureaucracy. They can face multiple Ministers who themselves have many other jobs, often in totally unrelated areas. This makes it extremely difficult to shrink Government, or get much done at all.

Some will criticise ACT for creating the Minister for Regulation. The Party would respond that restricting how other people can use their property is the most important government power to restrain besides taxing and spending. The latter has the Minister of Finance and Treasury, but who restrains regulation?

ACT is now at the centre of government for the first time, and sits at the table that’s been set over the last thirty years of MMP. If the Party was charged with setting the table, there would be fewer placemats.

How would we do it again? Any future Government should stick to three rules when it’s being set up.
1. Every Minister sits in Cabinet so they’re part of every discussion.
2. Every Minister has a department, so there are no portfolios that don’t involve managing a department.
3. No Department has more than one Minister, so every public servant knows who they’re accountable to.
This would mean getting rid of about half the portfolios and eight Ministers. It would go a long way to improving government efficiency and allow the government to get a lot more done much faster with much less ‘resource.’

MIL OSI New Zealand News –
February 10, 2025
MIL-OSI United Kingdom: SLC announces new Darlington apprenticeships during National Apprenticeship Week
Source: United Kingdom – Executive Government & Departments

SLC is recruiting 12 new Student Finance Officer apprentices in Darlington
To mark National Apprenticeship Week (10-16 February), the Student Loans Company (SLC) has announced it is recruiting 12 new apprentices in Darlington.

Applications for the Student Finance Officer (SFO) Apprenticeships are now open, and successful candidates will join the organisation’s Customer Operations team in July.

SLC supports students across the UK to invest in their futures and unlock their potential by administering loans and grants to students in universities and colleges across the UK. The new SFO apprentices will be at the heart of this operation, supporting customers through their student finance journeys and helping to process around 1.5million applications each year.

The 18-month programme is being delivered in conjunction with Darlington College and apprentices will work towards will work towards apprenticeship certificates in L3 Business Administrator.

Jackie Currie, Executive Director of Customer Operations at SLC said: “It’s fantastic to be launching our latest apprentice search during National Apprenticeship Week. The theme for the week is ‘Skills for Life’ and I’m proud of the role that SLC plays in developing the talent of the future, through our apprenticeship programmes.

“I’m looking forward to welcoming our new apprentices to the Customer Operations Team this summer and would urge people across the North East to apply. It’s a fantastic opportunity to work and gain experience within a large public sector organisation and achieve a recognised qualification at the same time.”

SLC currently has 29 apprentices working across all areas of the organisation, with many former apprentices continuing to progress their careers with SLC after completing their qualification.

Thomas Goodliffe (21) joined SLC as an SFO Apprentice in 2023. He completed his Level 3 Business Administration qualification with distinction and was named Darlington College’s Apprentice of the Year award in 2024. He now has a permanent SFO position.

He said: “I would strongly recommend SLC’s apprenticeship programme, particularly if you are just starting out and want to work and study at the same time. I received fantastic support from SLC and Darlington College, which helped me to make the most of my experience.

“The skills that I have gained, both at work and through my studies, have given me a great start to my career and there are so many opportunities at SLC which will allow me to keep learning and developing. I’m already planning my next career steps and feel excited about what the future holds.”

For more information and to apply, please visit https://www.civil-service-careers.gov.uk/student-loans-company-hub/.

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Published 10 February 2025
MIL OSI United Kingdom –
February 10, 2025
MIL-OSI: Intchains Group Limited to Report Unaudited Fourth Quarter and Full Year 2024 Financial Results on Friday, February 27, 2025

Source: GlobeNewswire (MIL-OSI)

SHANGHAI, Feb. 10, 2025 (GLOBE NEWSWIRE) — Intchains Group Limited (Nasdaq: ICG) (“we,” or the “Company”), a provider of integrated solutions consisting of efficient mining products for altcoins, and on acquiring and holding ETH-based cryptocurrencies as its long-term asset reserve to support its Web3 industry development initiatives including actively developing Web3-based applications, today announced it will release its unaudited financial results for the fourth quarter and full year of 2024 ended December 31, 2024.

Conference Call Information

The Company’s management team will host an earnings conference call to discuss its financial results at 8:00 PM U.S. Eastern Time on February 27, 2025 (9:00 AM Beijing Time on February 28, 2025). Details for the conference call are as follows:

All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of dial-in numbers and a personal access PIN, which will be used to join the conference call.

Additionally, a live and archived webcast of the conference call will also be available at the Company’s website at https://intchains.com/.

About Intchains Group Limited

Intchains Group Limited is an innovative altcoins development company that primarily focuses on providing integrated solutions consisting of mining products for altcoins, and on acquiring and holding ETH-based cryptocurrencies as its long-term asset reserve to support its Web3 industry development initiatives including actively developing Web3-based applications. For more information, please visit the Company’s website at: https://intchains.com/.

For investor and media inquiries, please contact:

Intchains Group Limited

Investor relations
Email: ir@intchains.com

Redhill

Belinda Chan
Tel: +852-9379-3045
Email: belinda.chan@creativegp.com

The MIL Network –

February 10, 2025
MIL-OSI: LEAP 2025 Opens with Announcement of Record-breaking US$14.9 Billion Investment in Artificial Intelligence
Source: GlobeNewswire (MIL-OSI)
- World’s premier tech accelerator event smashes own record, revealing investment deals and infrastructure partnerships by domestic and international heavyweights
RIYADH, Kingdom of Saudi Arabia, Feb. 10, 2025 (GLOBE NEWSWIRE) — LEAP 2025, Saudi Arabia’s award-winning global tech event, announced a record-breaking US$14.9 billion in new Artificial Intelligence (AI) investments that further cement the Kingdom’s status as a world-leading AI hub.

Revealed on the opening day of this year’s four-day event, which is being held at the Riyadh International Exhibition and Convention Centre in Malham, the new announcements increase the total amount of technology-related infrastructure investments in Saudi Arabia to more than US$42.4bn since LEAP debuted in 2022.

The new investments in the Kingdom included an announcement between Groq and Aramco Digital confirming a US$1.5bn plan to expand AI-powered inference infrastructure and cloud computing; ALAT and Lenovo committing US$2bn to establish an advanced manufacturing and technology centre integrating AI and robotics; Google introducing new AI-driven digital infrastructure and the launch of a powerful computing cluster to meet regional and global demand; Qualcomm confirming the availability of its ALLAM language model on Qualcomm AI Cloud; and Alibaba Cloud launching the AI Enablement Programme comprising collaborations with Tuwaiq Academy and STC Academy to train national talent.

Other announcements included Databricks investing US$300 million in integrated PaaS (Platform as a Service) solutions to empower application developers with cutting-edge AI tools; SambaNova committing US$140m to build advanced AI infrastructure; Global private equity firm KKR, in partnership with Gulf Data Hub, revealing a strategic investment in the development of data centres with a total capacity of up to 300 megawatts; Saudi Arabia’s Salesforce investing US$500m to develop Hyperforce and enhance cloud capabilities for regional customers; and Tencent Cloud allocating US$150m to establish the Middle East’s first AI-powered cloud region.

Delivering a keynote address to formally open LEAP 2025, His Excellency Eng Abdullah Alswaha, the Saudi Minister of Communications and Information Technology (MCIT), insisted the new wave of investments brings one step closer His Royal Highness Crown Prince Mohammed bin Salman’s vision of the Kingdom’s tech sector becoming a global beacon for innovation and advancement.

“LEAP 2025 is a defining moment because when the Kingdom works, the region works, and the whole world works,” said Alswaha. “LEAP has evolved from a movement to a multiplier effect – but now is our defining moment. Technology has catalysed Saudi Arabia as the biggest success story in youth and female empowerment in the 21^st Century, and we are laser-focused on continuing that success story. The intelligence age is here and, in partnership with you, we are going to take that leap together.”

Michael Champion, CEO of Tahaluf, which co-organises LEAP with the Saudi Ministry for Communications and Information Technology (MCIT) and the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP), added: “The massive volume of new investments announced on day one builds on the progress made at LEAP and across the Kingdom in previous years, reaffirming Saudi Arabia’s undisputed status as the primary digital accelerator in the Middle East and North Africa.”

IBM’s Arvind Kirshna Predicts Quantum Computing Breakthrough now only “Three to Five Years Away”

Eleven months after announcing IBM’s plans to invest US$250 million into a global software development centre in the Kingdom, Arvind Krishna, Chairman & CEO of IBM, joined HE Alswaha on the LEAP Main Stage to discuss his experiences identifying “early signals” to stay ahead of emerging industry trends.

The trend that dominated the duo’s conversation was quantum computing – a type of computing that uses the principles of quantum mechanics to solve problems that would take classical computers millions of years to complete – with Kirishna adamant the technology is getting ever closer.

“A breakthrough I think is only about three-to-five years in the future is quantum computing – I think we will see something amazing,” said Krishna. “We’re very excited to already be working on it with some partners in the Kingdom, but I believe quantum computing will open up areas that, for the Kingdom, will be very exciting. It will all be about materials, energy, oil and gas, possibly pharmaceuticals – all areas that are critical to the Kingdom and very much part of Vision 2030.”

From Virtual Boxing to Futuristic Couture, Inaugural Tech Arena Opens Window to the Future

LEAP’s newly-added Tech Arena kicked off with a series of future-focused, interactive sessions highlighting some of the latest technological advancements shaping the technology of tomorrow.
With groundbreaking prototypes in robotics, AI, fashion tech, and mixed reality all being explored, live demonstrations were conducted by global tech influencers alongside BBC Click presenters Lara Lewington and Spencer Kelly.

US-based Engine VR showcased Golden Gloves VR, a platform that uses virtual reality technology to provide an immersive, gamified boxing experience for fitness enthusiasts, professional athletes, and entertainment seekers.

With professional boxer David Perez delivering a live demonstration to watching crowds, Aaron Sloan, the platform’s Founder, said: “ I used to work as a cardiac nurse, but the only two things I ever really cared about were boxing and technology. So, I quit my nursing job and opened up my own boxing gym; it burned down within a month. It made me realise that building a business in a brick-and-mortar facility was going to be really hard. It just so happened that, around this time, the Quest One headset came out. Not only was it powerful, it was also wireless, which is so crucial for our system to work,” said Sloan.

“In order for us to get the traction we needed, we had to replicate as best we could what trainers and boxers were doing in the gym. After a number of different variations, we now have a platform that is being used by sporting bodies across the world, including the Olympics. The system also allows people of determination to take part, making the sport far more inclusive.”

Elsewhere, TJ Rhodes, the Senior Research Scientist and Engineer on Adobe’s Project Primrose, talked audiences through the Middle East debut of its latest wearable technology. First premiered at Adobe Max in 2023, the Project Primrose dress uses non-emissive textiles and can change the way we merge fashion and technology.

“It has so many use cases beyond the catwalk; it can be a canvas for new designs or even a low-power billboard that can flash text-based advertisements,” said Rhodes. “It is also a non-emissive material that can be cut to any shape and dynamically diffuses light. Most special effects can only be experienced on the big screen, but what Project Primrose allows us to do is transform it from the big screen to reality. Imagine if Elsa from Frozen was able to transform her dress to match her actions in a live performance. We’re still discovering the possibilities of what this technology can do.”

More than 1,800 tech brands and 680 start-ups are exhibiting at LEAP 2025 this week, alongside a stellar lineup of 1,000-plus expert speakers across 15 stages, highlighting the tech that is shaping tomorrow.

For more information on the event and ticket options, visit onegiantleap.com

About LEAP:

Saudi Arabia’s desire to shoot for something beyond the realms of the possible presents the ultimate backdrop for LEAP.

LEAP showcases the Kingdom’s technology ambition on a global stage as it continues to grow as a hub connecting three continents. The figures speak from themselves as LEAP 2024 had an attendance of over 215,000, making it the most attended tech event in the world. LEAP features the inspiring tech of tomorrow across all major sectors including health, finance, energy, education, digital entertainment, transport, smart cities and more. The event is also led by a speaker faculty of globally celebrated technology innovators, focussing on the most innovative tech case studies from around the world.

LEAP is not like any other tech event, from the ground up the community, stakeholders and project team are challenged every day to do something wildly creative and bold, something that reflects the seismic advances in tech adoption being seen in Saudi Arabia.

About Tahaluf:

Headquartered in Riyadh, Tahaluf brings together strategically important commercial communities from the Kingdom of Saudi Arabia, the wider Gulf region, and from around the world to a portfolio of world-class exhibitions and digital platforms.

Tahaluf is a joint venture partnership between Informa PLC, the world’s largest trade show organiser, the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP), and Events Investment Fund (EIF). Sela, the Saudi-owned event production company renowned for its creation of spectacular event experiences, intends to join the joint venture in the near future.

In 2024 Tahaluf was responsible for the award-winning tech events LEAP & DeepFest, as well as 24 Fintech, the Global Health Exhibition, Cityscape Global, Black Hat MEA and CPHI.

For more information about Tahaluf, visit https://tahaluf.com

Contact:
pragati.m@actionprgroup.com

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5fa649e4-de08-4d36-ac05-cacaaa343ac7
https://www.globenewswire.com/NewsRoom/AttachmentNg/d0034895-f10e-4f41-af0e-31a59b2c65d3
https://www.globenewswire.com/NewsRoom/AttachmentNg/6a4c9a61-18b0-4288-9f32-90fe4ad7748e
https://www.globenewswire.com/NewsRoom/AttachmentNg/5351de8d-badd-4734-bf1a-4899d40bc9b4
https://www.globenewswire.com/NewsRoom/AttachmentNg/2ed8cddb-dc15-49e4-ae15-0514eb166f91

The MIL Network –
February 10, 2025
MIL-OSI: Municipality Finance issues EUR 10 million notes under its MTN programme

Source: GlobeNewswire (MIL-OSI)

Municipality Finance Plc
Stock exchange release
10 February 2025 at 10:00 am (EET)

Municipality Finance issues EUR 10 million notes under its MTN programme

Municipality Finance Plc issues EUR 10 million notes on 11 February 2025. The maturity date of the notes is 11 February 2035. The notes bear interest at a fixed rate of 2.819% per annum.

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

MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 11 February 2025.

ABN AMRO Bank N.V. plc acts as the dealer for the issue of the notes.

MUNICIPALITY FINANCE PLC

Further information:

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

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.
The Group’s balance sheet totals over EUR 50 billion.

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

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

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

Important Information

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

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

The MIL Network –

February 10, 2025
MIL-OSI Economics: ADB and Local Currency Financing: A 20-Year Journey
Source: Asia Development Bank
ADB’s pioneering efforts in issuing local currency bonds over the past 20 years have not only mitigated currency risks for borrowers but also opened local markets to foreign investment and development finance.

Innovations like currency-linked bonds and the rapid development of derivative markets have enhanced liquidity and enabled tailored funding solutions, significantly advancing local currency financing in Asia and the Pacific.

Local currency finance, initially focused on private sector loans, is expanding into sovereign lending, signaling ADB’s evolving role in fostering financial innovation and development across the region.
Twenty years ago, ADB issued its first local currency bond. The Indian rupee bond represented about $110 million equivalent at the time. Over the following three years, ADB raised funding from onshore bond issues in Malaysian ringgit, Thai baht, Chinese renminbi and Philippine peso – acting as an “icebreaker” to open these markets to foreign issuers.

Such borrowing exercises introduced a new funding stream for ADB’s development assistance, allowing borrowers to mitigate potential currency risks associated with borrowing in foreign currencies.

Fast forward to today, and local currency finance has gone mainstream. Development partners are no longer surprised when ADB issues bonds denominated in currencies as diverse as the Azerbaijan manat, the Indonesian rupiah or the Mongolian togrog and they recognize the invaluable role that local currency finance plays in crowding in foreign investment to developing countries.

About a third of ADB’s private sector loans are currently delivered in local currencies, with the Thai baht, Indian rupee, Chinese renminbi, Kazakhstan tenge, and Georgian lari featuring prominently. ADB’s aggregate local currency portfolio reached more than $3.75 billion equivalent as of 31 October 2024 across more than 15 local currencies with local currency loans expected to reach 50% of private sector lending over the next years.

What has catalyzed local currency finance?

Over the last 20 years, local capital markets have evolved and developed significantly across Asia and the Pacific. These developments were driven by the experience of the 1997/98 Asian financial crisis, which was at least partially caused by excessive foreign currency exposures.

Since then, regulators, banks, and investors have made significant strides to develop local currency bond markets and improve the local currency capital market infrastructure.

Over the last 20 years, local capital markets have evolved and developed significantly across Asia and the Pacific.

ADB can reach certain target borrowers more effectively when it offers loans in their own currencies rather than in dollars, euros, or yen. For many of the projects that ADB supports, foreign currency denominated loans would not be feasible: a dairy business owner in Mongolia has no understanding of the risks involved in borrowing a foreign currency. Equally, a female worker in rural Kazakhstan would not begin to consider borrowing a home loan in a foreign currency. For both of these projects, ADB was able to provide suitable local currency financing solutions to meet borrower needs and avoid foreign currency mismatches.

Importantly, the rapid development of derivative markets in the region, which include the availability of both interest rate and cross-currency swaps in several markets, has facilitated the management of liquidity by decoupling funding and disbursement transactions, while also allowing for tailored back-to-back funding transactions.

The availability of longer-tenor financing solutions has also improved significantly in a number of the more developed Asian markets: for example, ADB was able to derive a 20-year Thai baht funding solution through the cross-currency swap market to finance a project in Lao People’s Democratic Republic, which delivered a perfect hedge for the borrower.

Similar liquidity of varying tenors is now available in swap and bond markets in the People’s Republic of China (PRC), India, Indonesia, Malaysia, and the Philippines.

A capital market innovation: the emergence of currency-linked bonds

Another important innovation has also improved the availability of local currency financing: the so-called “currency-linked bond” has been a game changer for development finance. In essence, this is a debt security denominated in a local currency but settled in US dollars.

It relies on international documentation usually under English law, settlement occurs in international central securities depositaries, and the bonds are listed on major international stock exchanges. The impact of such structures is to crowd in international investors into local currencies by providing an easily accessible trading infrastructure.

ADB issued its first Indian rupee currency-linked bond in 2014 and since then has issued such instruments in Armenian dram, Azerbaijan manat, Georgian lari, Indonesian rupiah, Kazakhstan tenge, Kyrgyz sum, Mongolian togrog, Pakistan rupees and Philippine pesos. In Indian rupees alone, ADB has raised more than one billion US dollars equivalent to finance private sector projects.

Issuing innovative local currency bonds

In countries such as Georgia and Kazakhstan where the environment is enabled, ADB has issued multiple domestic bonds including fixed rate, floating rate and even inflation-linked. Furthermore, ADB auctioned the first green (2020) and gender (2021) bonds on the Kazakhstan Stock Exchange, delivering a new asset class to the local market.

In Georgia, ADB was the first organization to issue its domestic bonds through the Georgian Securities Settlement System (GSSS) in 2015, which operates delivery versus payment Real Time Gross Settlements (RTGS) with central bank money through the National Bank of Georgia.

In Kazakhstan, ADB settled its domestically issued bonds through the Kazakhstan Securities Depositary, which crucially has an operational “bridge” with Clearstream in Luxembourg.

These innovations have fostered knowledge sharing and the shift of local currency issuance infrastructure towards international best practices.

Creating local currency liquidity pools

Liquidity pools are commonly used to warehouse the proceeds of bond issues in mainstream currencies until project disbursements happen. ADB has developed liquidity pools in Chinese renminbi and Indian rupees, which have played an important role in shepherding in high levels of local currency development finance by providing continuous availability of funding, decoupling such availability from any specific funding transactions Further liquidity pools are in the making, as ADB’s pipelines in local currency grow and evolve.

Working closely with national regulators and market participants, ADB’s engagement in local currency markets over the last 20 years has made significant progress.

The next frontier: sovereign local currency loans

Local currency finance is already well established as a financing source for ADB’s private sector loans, but it has been deployed much less in the sovereign context, which for ADB represents the largest share of lending activity. A number of sovereign borrowers have recently started to avail local currency solutions from ADB, including a recently completed $1.45 billion sovereign local currency loan conversion.

Working closely with national regulators and market participants, ADB’s engagement in local currency markets over the last 20 years has made significant progress: ADB is now able to offer funding solutions in more than 15 local currencies in Asia and the Pacific. As local currency markets will further develop, the future of local currency financing in the Asia-Pacific region looks bright.

Authors: Roberta Casali, ADB Vice-President for Finance and Risk; Tobias Hoschka, ADB Treasurer; Jonathan Grosvenor, former ADB Assistant Treasurer

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ADB funds and products

Finance sector development
MIL OSI Economics –
February 10, 2025
MIL-OSI: Netcompany enters into an agreement with SDC to create ‘the future of banking services’
Source: GlobeNewswire (MIL-OSI)

Company announcement (inside information)
No. 09/2025

10 February 2025

Netcompany Group A/S (“Netcompany”), SDC A/S, (“SDC”), and a majority part of the shareholders of SDC have today entered into an agreement of a transaction whereby a newly formed company of Netcompany and SDC will merge into a combined company fully owned by Netcompany. Together, Netcompany and SDC will create innovative and best-in-class banking solutions and services to the benefit of current banks running on SDC’s platform, as well as for new banks to be onboarded to the platform in the future.

The transaction values SDC at DKK 1 billion and will include a cash payment of DKK 1 billion from Netcompany to SDC’s shareholders. The cash consideration is funded by way of utilising current credit facilities.

Closing of the transaction is expected to take place around mid-2025, subject to regulatory and other customary conditions.

Strategic rationale
The transaction with SDC provides a strong foothold for Netcompany in the financial services industry, which is the highest spending vertical within IT services in Europe. In 2025, the total addressable market in DK, NO, and SE is estimated to be more than DKK 44 billion and the market is expected to grow more than 10% annually towards 2028, supporting Netcompany’s ambition of delivering continued sustainable organic growth.

Within the financial services industry, Netcompany offers a solid product and platform suite, including AMPLIO, mit.dk, AMI and EASLEY, combined with products from Festina Finance such as Festina Advisor and Festina Life and Pension. These products and platforms supplemented by SDC’s core banking platform will be the foundation of ‘the future of banking services’. Together, Netcompany and SDC will improve the banking experience for bank customers, as well as bank employees and advisors, by introducing improved and personalised advice, self-service solutions, and end-to-end digital processes to support activities such as housing journeys and onboarding, through new industry-specific and vendor-independent banking services.

Following the transaction, the combined workforce of Netcompany and SDC is more than 9,200 FTEs.

André Rogaczewski, CEO Netcompany states:
“I am thrilled to announce that we have successfully agreed on a transaction with the majority shareholders of SDC. This strategic move marks a significant milestone for Netcompany, and it aligns with our Go-To-Market strategy to expand our capabilities and enhance our service offerings within the financial services industry.
Digitalisation is the key driver for strengthening Europe’s most critical societal areas – including the financial services industry. Netcompany already provides the digital foundation with our products and platforms in the areas of pension, customs and tax, transport and logistics, and now we are going to do the same in the financial services industry. With SDC’s core banking platform and Netcompany’s innovative DNA, products, and platforms, we are looking into unprecedented opportunities for the entire banking sector. The goal of this transaction is to create innovative and best-in-class services in Denmark, Scandinavia, and the rest of Europe, to the benefit of current and future customers, thereby adding substantial value for our shareholders and stakeholders.”

Klaus Skjødt, Chair SDC states:
“This is a significant milestone in SDC’s history, as we are now building upon past investments in the market’s most modern core banking platform and future-proofed online and mobile banking. Together with Netcompany, we have a shared ambition to make the banking sector a driving force for digital innovation, setting new standards for the advice and service customers can expect from their bank. We will achieve the scale and development power necessary to enhance our competitiveness and create the market’s strongest banking experience.”

About SDC
- SDC is a prominent IT service provider headquartered in Ballerup, Denmark, specialising in delivering comprehensive IT solutions to the financial services industry across the Nordic region.
- SDC was founded in 1963 and offers a wide range of services, including core banking systems, digital banking solutions, and regulatory compliance tools.
- At the end of 2024 SDC’s workforce counted 980 FTEs in three countries.
- Prior to closing of the transaction, SDC is owned by its member banks. SDC functions as the internal IT department of the member banks, which are also in turn customers of SDC, as well as other commercial non-member banks.
- In 2023, SDC realised revenue of DKK 1,837 million and EBITDA of DKK 286.8 million.
- For additional information: https://www.sdc.dk/
About Netcompany
- Netcompany is a leading IT services company headquartered in Copenhagen, Denmark, with a strong focus on digital transformation in Europe.
- Netcompany was founded in 2000 and delivers innovative and high-quality solutions to both public and private sector clients.
- At the end of 2024 Netcompany’s workforce counted 8,260 FTEs in nine countries.
- In 2024, Netcompany realised revenue of DKK 6,540.6 million and adjusted EBITDA of DKK 1,097.9 million in 2024.
- For additional information: https://www.netcompany.com/
Summary of the transaction
- Netcompany will acquire 100% of the shares in SDC for a cash consideration at closing of DKK 1 billion.
- Netcompany will make the acquisition through a newly formed company – Netcompany Banking Services A/S – which will be merging with SDC and as a consequence resulting in a fully owned subsidiary of Netcompany in which the activities of SDC are fully embedded.
- The cash consideration is funded by way of utilising current credit facilities. The transaction will be fully debt financed within the existing covenants.
- Due to integration costs, the transaction is expected to have a dilutive impact on EPS for the financial year 2025.
- The transaction is expected to be EPS accretive to Netcompany from 2026 compared to 2024. Furthermore, the transaction is expected to be double-digit percentage EPS accretive by 2028 – also compared to 2024.
- The transaction is subject to regulatory approvals in Denmark, Norway, and Faroe Island and other customary conditions.
- Netcompany and the majority shareholders, who will continue as customers in the newly formed company after closing, will enter into a commercial IT-framework agreement (to enter into effect after closing) based on an already agreed term sheet. The agreed term sheet includes key provisions on the continued delivery of the current as-is services on a commercial market conform delivery and payment basis, a governance model with continued involvement of Netcompany and the bank customers, a fair and market-based exit model, and the transformation of the SDC platform to create ‘the future of banking services’.
- As the agreed transaction structure is set as a merger, the closing of the transaction will formally require a two-thirds approval at a general meeting in both Netcompany’s newly formed company and SDC. The majority shareholders representing 70.94% of the outstanding share capital and voting rights in SDC have at signing of the agreement with Netcompany irrevocably provided their commitment to vote for the merger.
- The remaining shareholders, and customers of SDC, will be given the opportunity to enter into a commercial IT-framework agreement with Netcompany on the same terms as the majority shareholders and irrevocably provide their approval to vote for the merger.
Financial Guidance
Financial guidance for 2025 for Netcompany on a stand-alone basis, as provided in the Annual Report 2024, is based on organic performance metrics and hence maintained. Organic revenue growth is expected between 5% and 10% and adjusted EBITDA margin between 16% and 19%.

Netcompany expects to reinitiate it’s share buyback programmes after closing of the transaction and expects leverage at the end of 2025 to be around 1.5x.

Webcast
In connection with the publication of the merger, Netcompany will host a conference call on Monday, 10 February 2025 at 8.15 am CET. The conference call will be held in English and can be followed live via the company’s website; www.netcompany.com

Dial-in details for investors and analysts:
DK: +45 78 76 84 90
UK: +44 20 3769 6819
US: +1 646 787 0157

PIN: 598046

Webcast Player URL: https://netcompany-as.eventcdn.net/events/webcast-10-februar-2025

Additional information
For additional information, please contact:

Netcompany Group A/S
Thomas Johansen, CFO, +45 51 19 32 24
Frederikke Linde, Head of IR, +45 60 62 60 87

Disclaimer
This announcement contains forward-looking statements that reflect Netcompany’s current expectations and views of future events. Some of these forward-looking statements can be identified by terms and phrases such as “estimate”, “expect”, “target”, “plan”, “project”, “will” and similar expressions. These forward-looking statements include statements relating to: the expected characteristics of the combined company; expected financial results and characteristics of the combined company; expected timing of the launch and closing of the proposed transaction and satisfaction of conditions precedent, including -regulatory conditions; and the expected benefits of the proposed transaction, including related synergies. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such statements. These forward-looking statements are based on our beliefs, assumptions, and expectations of future performance, taking into account the information currently available to us. These statements are only predictions based upon our current expectations and projections about future events. Risks and uncertainties include: the ability of Netcompany to integrate SDC into Netcompany’s operations; the performance of the global economy; the capacity for growth in internet and technology usage; the consolidation and convergence of the industry, its suppliers and its customers; the effect of changes in governmental regulations; disruption from the proposed transaction making it more difficult to maintain relationships with customers, employees or suppliers; and the impact on the combined company (after giving effect to the proposed transaction with SDC and the shareholders of SDC) of any of the foregoing risks or forward-looking statements, as well as other risk factors listed from time to time in Netcompany’s public disclosures. The forward-looking statements should be read in conjunction with the other cautionary statements that are included elsewhere, including the risk factors included in any public disclosures of Netcompany. Any forward-looking statements made in this announcement are qualified in their entirety by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by us will be realised or, even if substantially realised, that they will have the expected consequences to, or effects on, us or our business or operations. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Attachment
- 09. Netcompany enters into an agreement with SDC to create ‘the future of banking services’
The MIL Network –
February 10, 2025
MIL-OSI: Inside information: Nokia announces a leadership transition – Justin Hotard appointed as successor to Pekka Lundmark
Source: GlobeNewswire (MIL-OSI)

Nokia Corporation
Inside information
10 February 2025 at 08:00 EET

Inside information: Nokia announces a leadership transition – Justin Hotard appointed as successor to Pekka Lundmark

Espoo, Finland – Nokia today announced a leadership transition. Nokia’s President and Chief Executive Officer, Pekka Lundmark, has informed the Board that he will step down. The Board has appointed Justin Hotard as the next President and Chief Executive Officer of Nokia. He will start in his new role on 1 April 2025.

Hotard joins Nokia with more than 25 years’ experience with global technology companies, driving innovation, technology leadership and delivering revenue growth. He currently leads the Data Center & AI Group at Intel. Prior to this role, he held several leadership roles at large technology companies, including Hewlett Packard Enterprise and NCR Corporation. He will be based at Nokia’s headquarters in Espoo, Finland.

“I am delighted to welcome Justin to Nokia. He has a strong track record of accelerating growth in technology companies along with vast expertise in AI and data center markets, which are critical areas for Nokia’s future growth. In his previous positions, and throughout the selection process, he has demonstrated the strategic insight, vision, leadership and value creation mindset required for a CEO of Nokia,” said Sari Baldauf, Chair of Nokia’s Board of Directors.

“I am honored by the opportunity to lead Nokia, a global leader in connectivity with a unique heritage in technology. Networks are the backbone that power society and businesses, and enable generational technology shifts like the one we are currently experiencing in AI. I am excited to get started and look forward to continuing Nokia’s transformation journey to maximize its potential for growth and value creation,” said Justin Hotard.

After leading Nokia since 2020, Nokia’s current President and CEO, Pekka Lundmark, has decided to step down from executive roles and move on to the next phase of his career.

“I want to thank Pekka for his significant contributions to Nokia, he will leave with our highest respect. The planning for this leadership transition was initiated when Pekka indicated to the Board that he would like to consider moving on from executive roles when the repositioning of the business was in a more advanced stage, and when the right successor had been identified. Now, both of those conditions have been met, and he has decided to step down,” said Sari Baldauf.

She continued: “Pekka joined at a difficult time in Nokia’s history. Under his tenure, Nokia has re-established its technology leadership in 5G radio networks and built a strong position in cloud-native core networks. Network Infrastructure has delivered growth and significant profit improvement, and Nokia has secured the longevity of its patent licensing business. At the same time, Nokia has built strong foundations in new growth areas, refreshed the company’s brand and culture, transformed its operating model and rebalanced its portfolio.”

“Leading Nokia has been a privilege. When I returned to Nokia in 2020, I called it a homecoming, and it really has felt like one. I am proud of the work our brilliant team has done in re-establishing our technology leadership and competitiveness, and positioning the company for growth in data centers, private wireless and industrial edge, and defense. This is the right time for me to move on. I have led listed companies for more than two decades and although I do not plan to stop working, I want to move on from executive roles to work in a different capacity, such as a board professional. Justin is a great choice for Nokia and I look forward to working with him on a smooth transition,” said Nokia’s President and CEO Pekka Lundmark.

Lundmark will step down on 31 March 2025. He will continue as an advisor to the new CEO until the end of the year.

An event for media and financial analysts will be held today at 10:00 EET. Link to join the webcast: https://edge.media-server.com/mmc/p/hjd9zmyx.

Journalists and financial analysts, who wish to ask a question during the event, must dial-in to an audio-only conference call line. The attendees must pre-register here: https://dpregister.com/sreg/10196883/fe7f25be61.

If you wish to ask a question on the call, you must mute the webcast and only use the participant dial-in during the Q&A session as there is a delay of approximately 15-30 seconds.

Journalists and financial analysts can join via webcast or in person (Nokia’s Executive Experience Center at Karakaari 18, Espoo). Members of the media and analysts who want to participate in person, are kindly requested to show their press credential or valid ID on arrival.

Justin Hotard, CV

Born: 1974

Nationality: US national

Experience:
- Intel, Santa Clara, CA, 2024–present: Executive Vice President and General Manager, Data Center & AI Group
- Hewlett Packard Enterprise, Houston, TX / Tokyo, Japan, 2015–2024: various leadership positions including:
  - Executive Vice President and General Manager, High Performance Computing, AI & Labs
  - President and Managing Director, Japan and China
- NCR Corporation, Duluth, GA, 2007–2014: various leadership positions including: President and General Manager, Global Small Business Cloud Platform
- Symbol Technologies (acquired by Motorola, Inc), Holtsville, NY, 2003–2007: Director, Product Management and Senior Manager, Corporate Development
- Motorola, Inc, Arlington, IL, 1996–2000: Senior Systems Engineer
Education:
- Master of Business Administration, MIT Sloan School of Management, Cambridge, MA, 2002
- Bachelor of Science in Electrical Engineering, University of Illinois Urbana-Champaign, Urbana, IL, 1997
About Nokia
At Nokia, we create technology that helps the world act together.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

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

Inquiries:

Nokia Communications
Phone: +358 10 448 4900
Email: press.services@nokia.com
Maria Vaismaa, Global Head of External Communications

Nokia
Investor Relations
Phone: +358 931 580 507
Email: investor.relations@nokia.com

FORWARD-LOOKING STATEMENTS

Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements reflect Nokia’s current expectations and views of future developments and include statements regarding: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, sustainability and other ESG targets, operational key performance indicators and decisions on market exits; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses) and any future dividends and other distributions of profit; C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, revenue generation in any specific region, and licensing income and payments; D) ability to execute, expectations, plans or benefits related to our ongoing transactions, investments and changes in organizational structure and operating model; E) impact on revenue with respect to litigation/renewal discussions; and F) any statements preceded by or including “anticipate”, “continue”, “believe”, “envisage”, “expect”, “aim”, “will”, “target”, “may”, “would”, “see”, “plan” or similar expressions. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from such statements. These statements are based on management’s best assumptions and beliefs in light of the information currently available to them. These forward-looking statements are only predictions based upon our current expectations and views of future events and developments and are subject to risks and uncertainties that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors, including risks and uncertainties that could cause these differences, include those risks and uncertainties specified in our 2023 annual report on Form 20-F published on 29 February 2024 under Operating and financial review and prospects – Risk factors.

The MIL Network –
February 10, 2025

MIL-OSI: WISeKey’s WISeID Empowers Users with Digital Identity Control in a Geopolitically Uncertain World

Source: GlobeNewswire (MIL-OSI)

WISeKey’s WISeID Empowers Users with Digital Identity Control in a Geopolitically Uncertain World

Geneva, Switzerland, February 10, 2025 –WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announces latest suite of enhancements of WISeID, the Company’s WebTrust-compliant identity management system built to protect users’ digital identities and personal data.

In light of current geopolitical tensions and the growing centralization of technology resources in only a few countries, it is more essential than ever for consumers to maintain control over their own digital identity. People’s digital identity represents their online persona, and ensuring it remains under each individual’s control allows them to attach various attributes to it while navigating the internet with full autonomy and consent.

Unfortunately, many platforms compel users to create digital identities within their ecosystems, not as a service to the consumer but as a means of controlling identity data for commercial exploitation. These platforms act as identity providers, leveraging user data for monetization by selling personal information to advertisers and other third parties.

For over 25 years, WISeKey has been a leader in digital identity solutions, prioritizing user autonomy without locking individuals into a proprietary ecosystem. WISeKey’s WISeID WebTrust-compliant identity management system, is accessible to all and designed to seamlessly integrate with existing blockchain technologies. WISeID.com enhances user protection against identity theft and strengthens privacy in today’s hyper-connected world.

The Next Generation of WISeID: Elevating Digital Identity Security

The latest iteration of WISeID builds upon WISeKey’s legacy of cutting-edge cybersecurity innovation, introducing a suite of enhancements that further protect users’ digital identities and personal data.

1. Free Identity Validation

WISeID now enables all users to verify their real identity using their computer or smartphone camera. By capturing an official identity document—such as a National ID, Driver’s License, or Passport (from most countries)—and utilizing facial recognition technology, users can confirm their identity securely and conveniently.

2. New Types of Digital Certificates

WISeID introduces a range of digital certificates with varying validation levels to suit different user needs:

Free Certificates – Available to all users, containing only an email address and valid for three months.
Basic Certificates – An optional subscription-based certificate with a two-year validity.
Advanced Certificates – Includes additional verified information such as the user’s name and country, enhancing credibility when sending emails or signing documents. This requires completing our Know Your Customer (KYC) verification process.
Advanced PRO Certificates – Designed for professional use, these certificates also include company details and require an organization validation process conducted by WISeKey.

3. New Document Signing Service

WISeID now offers a free digital document signing solution. Users can sign PDF documents directly from their computer or mobile device without needing to manually create or install certificates. Our platform automatically and securely generates single-use certificates for each signature request. The only requirement is a valid WISeID account with identity verification.

4. New Corporate Identity Management Services

Organizations can now leverage WISeID to provide secure identity services to their employees and customers through a corporate account. Corporate administrators gain full control over user identity creation and certificate management, eliminating the need for individual verification processes. Additionally, companies can acquire WISeSign packages, enabling employees to securely request and manage digital signatures.

By providing decentralized, user-controlled digital identity solutions, WISeID stands in stark contrast to identity-restricting platforms. Our mission is to empower individuals and businesses with secure, verifiable, and privacy-enhancing digital identity tools, ensuring they remain in full control of their online presence.

For more information, visit WISeID.com.

About WISeKey

WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

Press and Investor Contacts

WISeKey International Holding Ltd
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
info@wisekey.com

WISeKey Investor Relations (US)
The Equity Group Inc.
Lena Cati
Tel: +1 212 836-9611
lcati@equityny.com

The MIL Network –

February 10, 2025

MIL-OSI Australia: (WIP) Stamp duty complexities in Sale and Purchase Agreements: insights from Van Dairy
Source: Allens Insights

Care required not to trigger duty or double duty 10 min read

The recent Tasmanian case of Van Dairy¹ suggests that an agreement to procure a sale of property might be liable to duty as an agreement for sale, even if the owner of the property is not a party to it. This is significant because, in the context of this case, it meant the Sale and Purchase Agreement (SPA) triggered adverse stamp duty implications. This included that the purchaser became a land-rich entity before completion, so that a double duty liability was triggered by the transfer of its shares before completion of the land purchase.

To ‘change your mind’ after the contract is signed involves a major risk of incurring double duty under the landholder duty provisions of each Australian jurisdiction.

The principle in the case is potentially relevant when a corporate or other entity, which wholly controls one or more subsidiaries, undertakes to procure or arrange for those subsidiaries to sell land, shares or other assets held by them to a buyer.² It could potentially apply to impose duty on other agreements where the owners of the relevant sale property are not parties, such as scheme implementation agreements, or global business sale agreements in which parent companies of global groups undertake to procure their subsidiaries in various countries to buy and sell relevant businesses or companies.

We understand that the taxpayers have appealed the decision, and it remains to be seen whether the decision is overturned, or whether it will be followed in other Australian jurisdictions.

The case is also a salutary lesson about the importance of establishing ownership of a special purpose entity before it enters into a contract to acquire land assets, to ensure double duty does not arise under the landholder duty provisions in any Australian jurisdiction.

Key takeaways
- A sale and purchase agreement under which a controlling entity agrees to procure the sale of property by an entity which it controls, can potentially be characterised as a binding agreement for the sale of that property, even though the entity that owns the property is not a party to the agreement. Thus, such an agreement can trigger adverse duty consequences.
- Taxpayers establishing entities to acquire land assets or other property should strive to establish them with the correct or intended ownership prior to signing any contract to purchase the assets. To ‘change your mind’ after the contract is signed involves a major risk of incurring double duty under the landholder duty provisions of each Australian jurisdiction.
- This is subject to the potential for a taxpayer that is a member of a corporate group being able to rely on corporate reconstruction exemptions and concessions, to obtain an exemption or reduction in duty for a change in ownership within a corporate group of the special purpose entity after it acquires the land assets.
Who in your organisation needs to know about this?

Members of the tax and legal teams, and others involved in negotiating SPAs and global sale agreements, and in establishing special purpose entities to acquire land or other assets.
A summary of the Van Dairy case
Facts

In October 2015, certain Tasmanian properties (the Woolnorth properties) were marketed for sale. They were then owned by two companies named Van Diemen’s Land Company (VDL) and Tasman Ferndale Pty Ltd (TFPL), both of which were wholly owned by Tasman Land Company (TLC).

Mr Lu Xianfeng (Mr Lu) wanted to purchase the Woolnorth properties and related assets that were to be sold by interests controlled by TLC. Mr Lu at all relevant times controlled the corporate appellants in the matter. On 30 October 2015, Moon Lake Investments Pty Ltd (Moon Lake) was incorporated, with Mr Lu as the sole shareholder, holding all five shares in the company.

On 20 November 2015, Mr Lu, Moon Lake and TLC executed a written agreement referred to as the SPA. Under this agreement, as per clause 3, TLC agreed to ‘procure the sale and transfer to [Moon Lake] of the Assets … with affect from Closing’. The Assets referenced were owned by ‘the group’, which consisted of TFPL and VDL, which—as noted above—were wholly owned subsidiaries of TLC.

On 12 January 2016, according to the Moon Lake share register held by the Australian Securities and Investments Commission, Mr Lu’s five shares in Moon Lake were transferred to Ningbo Kaixin Investment Co Ltd (Ningbo).

On 24 March 2016, Ningbo’s shares in Moon Lake were then transferred to Van Dairy (Hong Kong) Group Ltd (VDHK).

On 31 March 2016, completion of the sale of the land took place. Moon Lake partly funded payment of the purchase price by issuing a large number of shares to VDHK. Moon Lake received the executed land transfers from VDL and TFPL and, on around 4 April 2016, these were lodged to be assessed for stamp duty by the State Revenue Office (SRO), together with payment of estimated duty of over $8 million.

Subsequently the SRO told Moon Lake’s solicitors it would give further consideration as to whether Ningbo and/or VDHK had any liability to pay land-rich duty, separately from Moon Lake’s liability to pay duty on the acquisition of the Woolnorth properties.

On 28 January 2021, the corporate appellants received a notice from the SRO that it intended to investigate whether Ningbo and/or VDHK had acquired any relevant interest in a land-rich corporation.

On 20 April 2021, Moon Lake received further correspondence from the SRO, which included the following statement:

The acquisition by shares by [Ningbo] on 15 January 2016 and then subsequently by [VDHK] on 24 March each resulted in a separate dutiable transaction under s66 of the Act as at the time of each of those majority acquisitions, Moon Lake was deemed to be a land-rich company.

On 5 July 2021, the SRO informed Ningbo and VDHK that each were liable to pay duty interest and penalty tax in the sum of approximately $10.5 million.

On 2 September 2021, Ningbo and VDHK each lodged notices of objection with the Commissioner regarding the 5 July 2021 assessments. The Commissioner disallowed their objections (apart from a reduction in the quantum of each assessment). The assessments, as revised, were the subject of challenge in the case.

Issues

The most significant issue from a duty viewpoint was whether the SPA was an uncompleted agreement for the sale of land, despite the fact that the owners of the land were not parties to the agreement. If so, it meant the SPA had the effect of causing Moon Lake to be a land-rich corporation both at the time of the transfer of its shares to Ningbo and then to VDHK, triggering multiple duty.

The decision on whether the SPA was an uncompleted agreement for the sale of land

Under section 60(1) of the Duties Act 2001, a private corporation was land rich if:
- it had land holdings in Tasmania where the unencumbered value is $500,000 or more; and
- its land holdings in all places, whether within or outside Australia, comprised 60% or more of the unencumbered value of all its property.
A land holding included any interest in land, with some exceptions that were not relevant to the facts of the case.³

Under section 61(4), the vendor and the purchaser under an uncompleted agreement for the sale of land were each taken to be separately entitled to the whole of the land. While the land-rich duty provisions in Tasmania were subsequently replaced by landholder duty provisions (removing the 60% requirement), there is an equivalent provision in section 79(1) of the current Act. In addition, all Australian jurisdictions have an equivalent provision in their landholder duty legislation.

Before the Supreme Court of Tasmania, Ningbo and VDHK argued that s61(4) did not deem Moon Lake to be entitled to the whole of the land the subject of the SPA as it was not a purchaser under an uncompleted agreement for the sale of land. The basis of this argument was that the SPA was a contract between TLC and Moon Lake. The land was not owned by TLC, but by companies controlled by TLC. Ningbo asserted that this is different from TLC itself selling the land to Moon Lake.

Acting Justice Marshall noted that the proper interpretation of s61 was central to the resolution of this issue. Firstly, his Honour noted that the expression ‘agreement for the sale of land’ was not defined in the Act. In turning to the ordinary natural meaning of the words, his Honour held:

“The ordinary natural meaning of the words is to provide a description of an agreement which results in the sale of land. The words in the section are not “an agreement for the sale of land by a vendor and its purchase by a buyer”.

This approach highlights that the words ‘for the sale of land’ are the key element of the description of the agreement and should not be construed narrowly or pedantically. The words indicate binding agreements by which the sale of land is effected. On the facts of the case there was no doubt TLC was able to secure the sale of the land to Moon Lake as required under the SPA. Therefore, Moon Lake was a purchaser under an uncompleted agreement for the sale of land, and was treated as holding an interest in the land for the purposes of s61(1) of the Act.

The court also referred to the judgment of Justice Fullagar in Hall v Busst, where his Honour said there were ‘three essential elements’ required for a concluded agreement including the parties, the subject matter and the price.⁴ All three were satisfied in Van Dairy, including the parties.

Implications

The decision suggests that an agreement to procure a sale of property might be liable to duty as an agreement for sale, even if the owner of the property is not a party to it.

We understand an appeal against the decision of the Tasmanian Supreme Court has been lodged in the Tasmanian Court of Appeal by the taxpayers. Pending the outcome of that appeal, the decision remains persuasive in other jurisdictions.

It remains to be seen whether the decision is ultimately overturned, or is followed in other jurisdictions. It may be that it can be confined to its facts—although the owners of the relevant land were not parties to the SPA, their controlling parent company, TLC, undertook a binding obligation to procure that they sold the land, and there was no other agreement for sale entered into or contemplated. The SPA operated as the agreement that regulated the sale of the land. It might be different if the agreement had been drafted as an obligation of TLC to procure that its subsidiaries entered into a separate agreement for the sale of the land with the purchaser. This is often the case with global sale agreements, where the parent company of a multinational group undertakes to procure that its subsidiaries enter into separate country-specific agreements relating to the sale of downstream assets.

The result in Van Dairy might also have been different if the question was whether the deeming provision in s61(4) applied to the owners of the land as vendors, since they were not parties. Alternatively, if only TLC and Mr Lu (but not Moon Lake) had entered into the agreement, perhaps s61(4) would not have applied because Moon Lake, as purchaser, would not have been a party to the agreement.

In the case of a scheme implementation agreement in a takeover context, the target company undertakes to take steps to seek shareholder (and court) approval of a scheme for the sale of its shares by the shareholders to the acquirer. This might potentially trigger a landholder duty liability under the provisions of the duties legislation in Queensland or Western Australia. However, the target company is generally not in a position to definitely procure the sale—there is doubt about the scheme proceeding, because it generally depends on approval by the shareholders (and the court). So, on that basis, the position might be distinguishable from the decision in Van Dairy.

As indicated in Van Dairy, double duty can be triggered when ownership of a purchaser entity is not established correctly at the outset. There were two transfers of the shares in Moon Lake after the SPA had been signed, triggering two lots of duty on the transfers of shares in Moon Lake, in addition to the duty on the purchase of the land. Therefore, it is important to seek to establish the correct entities as shareholders (or unitholders in the case of a unit trust) prior to the purchaser entity entering into a contract to acquire the land. Any transfer of ownership of the purchaser entity after it becomes a landholder could potentially attract landholder duty. This is subject to whether relief might be available under exemptions or concessions for transfers within a corporate group, as explained below.

As noted above, the landholder duty legislation of other Australian jurisdictions has similar provisions deeming a company to be a holder of land where it has entered into an uncompleted agreement to purchase the land. For this reason, the Van Dairy decision will be persuasive authority on the interpretation of those provisions.

For example, under section 160(1) of the Duties Act 1997 (NSW), the transferor and the transferee under an uncompleted agreement for the sale or transfer of land are each taken to be separately entitled to the whole of the land.⁵

The use of the terms transferor and transferee correspond to the use of the terms vendor and the purchaser in the Tasmanian Act. If the same facts as in Van Dairy occurred in relation to NSW land, then the case would be persuasive authority for the same interpretation of the NSW legislation.

Corporate reconstruction exemptions and concessions

For the purposes of changing the structure of a corporate group or changing the holding of assets within a corporate group, a taxpayer may seek to consider corporate reconstruction exemptions and concessions. A corporate group broadly consists of a parent corporation and its subsidiaries where there is at least 90% ownership.⁶ Where such an exemption or concession is available, it provides some flexibility to change the ownership of a landowning entity within a corporate group even after it has acquired land or entered into a contract to acquire land.

By way of example, the Duties Act 1997 (NSW) relevantly provides for a duty concession for corporate reconstruction transactions. For eligible transactions that occur on or after 1 February 2024, the duty is reduced to 10% of the duty that would otherwise be payable.

Section 273B applies to a transaction if the Chief Commissioner is satisfied, on application by a party to the transaction, that—
- the transaction is a corporate reconstruction transaction, and
- the transaction, or the series of transactions of which the transaction is a part, is undertaken for the purpose of either or both of the following—
  - changing the structure of a corporate group,
  - changing the holding of assets within a corporate group, and
- the transaction, or the series of transactions of which the transaction is a part—
  - is not undertaken for a purpose of avoiding or reducing duty under this Act on another transaction, and
  - is not undertaken for the sole or dominant purpose of avoiding or reducing a liability for tax, other than duty under this Act, under a law of an Australian jurisdiction.
All Australian jurisdictions have broadly similar exemptions or concessions, including Tasmania. The Tasmanian exemption was presumably not available in Van Dairy for the transfers of shares in Moon Lake. In the case of the first transfer from Mr Lu to Ningbo, Mr Lu, as an individual, could not have been a member of a relevant corporate group. In the case of the second transfer from Ningbo to VDHK, presumably the two companies were not part of the same corporate group as defined under the duties legislation.

Actions you can take now
- Exercise caution when establishing the ownership of a purchaser entity and seek to have the correct ultimate shareholders in place prior to the signing of a contract to acquire land or completion of the purchase. Be aware of the double duty risk if you ‘change your mind’ later.
- Consider the duty implications of entering into sale and purchase agreements, including where the intended seller or purchaser of the property is not a party to the agreement. Seek timely advice.
MIL OSI News –
February 10, 2025
MIL-OSI Australia: Albanese Government creating a better pathway for financial advisers
Source: Australian Treasurer

The Albanese Government is rebuilding a strong and sustainable financial advice industry that ensures Australians can access high quality and affordable financial advice.

The advice industry was abandoned and decimated by the former Coalition government, as the number of advisers fell from 28,000 in January 2019 to less than 16,000.

The Government will reform the education requirements for professional financial advisers to create a sustainable pathway for new advisers to enter the profession.

Currently, the professional pathway for financial advisers is composed of four requirements:
- completion of an approved qualification, with the list of approved qualifications limited to those focused specifically on financial advice;
- a 1,600 hour professional year;
- completion of the financial adviser exam; and
- continuing professional education.
The current education pathway is not sustainable. School leavers are not attracted to the specialised area of study, and it is a significant investment for career changers. Fewer Higher Education Providers are offering courses due to the lack of entrants.

Under the Government’s changes, the proposed education standard will centre around a new requirement to hold a bachelor’s degree or higher in any discipline.

Prospective advisers will need to meet minimum study requirements in relevant financial concepts such as finance, economics or accounting. They will also need to complete financial advice subjects covering ethics, legal and regulatory obligations, consumer behaviour and the financial advice process.

This provides relevant core knowledge for an adviser, streamlines entry into the industry and retains the important role of tertiary education.

It will also bring down the costs on prospective advisers and make it easier for people to change careers into financial advice later in life.

For most students studying a Commerce, Economics or Finance degree – or people moving across from other financial services careers – the cost and time to meet the requirements under the new standard will be halved.

Advisers will still need to complete a professional year, pass the financial adviser exam and undertake ongoing continuing professional education.

These reforms will complement the education requirements for the new class of financial advisers. We will ensure the pathway is aligned to enable the new class of adviser to transition into the professional advice ranks.

The Government will work with industry and higher education providers to ensure an appropriate transition to the new education standard.

Further, the Government will no longer proceed with Stage 2 of the registration process for financial advisers established by the Better Advice Act. This stage would have required individual advisers to register annually with the Australian Securities and Investments Commission from 1 July 2026.

Financial advisers are already registered by their authorising Australian Financial Services licensees under Stage 1. Not proceeding with Stage 2 removes unnecessary red tape on individual advisers.

These reforms build on the Government’s Delivering Better Financial Outcomes package to help address the current supply shortage of financial advisers, cut red tape that is not leading to better consumer outcomes, and strengthen the industry’s ability to meet the future demand for financial advice.

MIL OSI News –
February 10, 2025
MIL-OSI China: Chinese box office hit ‘Ne Zha 2’ premieres in LA

Source: China State Council Information Office 3

A poster for “Ne Zha 2.” [Image courtesy of Coloroom Pictures]

Chinese box office hit “Ne Zha 2” made its overseas premiere Saturday night in Hollywood, Los Angeles, drawing hundreds of fans and filmmakers from both China and the United States.

Li Zhiqiang, China’s deputy consul general in Los Angeles, highlighted the film’s strong performance in China and its growing global appeal. He said at the premiere that pre-sales for “Ne Zha 2” were booming in North America and emphasized the potential for deeper collaboration between China and the United States in the film and television industry.

Hollywood producer Robert King praised the film’s quality and scale after watching the premiere, saying that Chinese films have made significant strides in storytelling in recent years. He expressed hope for stronger cooperation between Hollywood and the Chinese film industry in the future.

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

By 0220 GMT on Monday, the film had grossed over 8.15 billion yuan (about 1.15 billion U.S. dollars) in the Chinese mainland, surpassing Star Wars: The Force Awakens as the highest-grossing film ever in a single market, according to ticketing platform Maoyan.

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

CMC Pictures is set to release “Ne Zha 2” in the United States, Canada, Australia and New Zealand next week.

The film, presented in Mandarin with English subtitles, will be available in around 60 IMAX theaters in 30 North American cities, including Los Angeles, New York, Toronto and Montreal, starting Wednesday.

MIL OSI China News –

February 10, 2025
MIL-OSI China: Books open youth up to whole new galaxy

Source: China State Council Information Office 3

Within the first month of 2025, the trend of reading pop science books, particularly ones with fascinating text and illustrations attractive to children, has risen among young readers thanks to policy support from various authorities.

On Jan 1, the Shanghai Municipal Commission of Science and Technology, along with cooperating departments, announced its annual New Discovery Pop-Science Booklist of 21 types of books, including one that explains sound to readers and one about flying birds, both of which had good sales records on domestic bookselling websites.

The Beijing Book Fair was held from Jan 9 to 11 at the China International Exhibition Center (Chaoyang Hall), where pop science books appeared as a genre that both readers and publishers marveled at. Their popularity was evident with over 2,900 display booths seeing their opening hours hosting pop-science writers’ lectures where they shared knowledge that was well-received among audiences.

“We get double the information by attending the lectures,” said 38-year-old Deng Hong, who attended three pop-science book-sharing lectures with her daughter on Jan 9.

“We both get to know what a new book is about and take in science knowledge,” she added.

One of the lectures Deng attended was given by Cao Yong, a professor from Northwestern Polytechnical University Ningbo branch, who was in charge of a team that designed a robotic “ghost fish”, a bionic submersible that could travel autonomously in the ocean. Cao shared how the “ghost fish” swims underwater and answered questions such as, “would such a bionic fish be eaten by a bigger fish”, or “what materials is its skin made of that can withstand high water pressure”. Cao also gifted a book about big airplanes to Beijing No 15 High School whose students attended his lecture.

The Young Scientist, a pop science cartoon series, is another major product that attracted over 100 people on-site and sold more than 1,000 copies online during the past two weeks. Written by 10 renowned domestic scientists and pop science writers with illustrations by 11 professional artists, the series teaches readers about the latest advancements in major science sectors and enhances their prospects. Four of the 10 writers held an open seminar in which about three dozen were kids that they “hope to influence the most”, according to its editor Zou Li.

The four writers shared key points in their books. For example, “a long rumor is that mankind invented radar-imitating bats that find their way by sending ultrasonic waves”, said Yuan Lanfeng, chief editor of the series, “but while writing and editing the book about bionics, we consulted a bat expert, a radar expert and an acoustics professor and found that mankind invented the radar long before discovering that bats emitted ultrasonic waves. The two are similar but not imitating each other.”

The writers also answered questions raised by the pupils. The most popular question was: “What do we do now to become scientists like you?”

“If you want to be an astronaut or astronautic scientist, stay healthy and do your homework to become educated,” answered Zhou Binghong, one of the writers who is also a researcher at the China Academy of Space Technology, pointing out that the line between astronauts and astronautic scientists is vague as these professions need extensive knowledge to travel to space for on-site experiences. “Health and knowledge are the most important factors for both professions, which are becoming increasingly popular at a lower cost.”

Wang Dapeng, a researcher at the China Research Institute for Science Popularization, encourages the idea of recruiting scientists to write their stories. “We need more scientific researchers to tell stories of their research fields. Science in the form of stories is more digestible to children because reading is not only for acquiring knowledge but also for enriching lives and improving oneself.”

Li Hui, deputy Party secretary and vice-chairperson of the board of Hunan Publishing Investment Holding Group, said that pop science works play an irreplaceable role in cultivating children’s scientific literacy and stimulating their innovative potential. The publishing group follows the national innovation-driven development strategy and is committed to publishing excellent popular science works and enhancing scientific literacy.

“How many galaxies are there in the universe besides ours?” asked a 7-year-old at the end of the seminar.

“So far, we know of about 100 billion,” Zhou answered, “which means for each of the 8 billion people on Earth, there is an average of a dozen galaxies. The coming generations have a mission to work harder on space science so that one day we can travel at the speed of light into the deep universe to explore them.

“Let’s find our own galaxies,” Zhou said.

MIL OSI China News –

February 10, 2025
MIL-OSI Australia: Second suspect arrested over Mitchell Park break-in

Source: South Australia Police

A second man has been arrested over a Mitchell Park break-in last month and will face court today.

Just after 6.30pm on Friday 24 January the victims returned home and were confronted by a group of intruders leaving their Handley Avenue property.

The suspects stole property including a Play Station, jewellery and cash and left in a silver Holden VE Commodore.

Thankfully there were no physical injuries.

A 20-year-old Elizabeth North man was arrested on 27 January and charged with serious criminal trespass, theft, aggravated robbery, assault, theft, illegal use of motor vehicle and fail to truly answer questions.

Following investigations, a second suspect was arrested yesterday, Sunday 9 February.

The 24-year-old Prospect man was charged with aggravated serious criminal trespass, aggravated robbery, aggravated assault, illegal use and drive while disqualified. He was refused police bail and will appear in the Adelaide Magistrates Court later today.

Investigations are ongoing. Anyone with information that may assist is asked to contact Crime Stoppers on 1800 333 000 or online at www.crimestopperssa.com.au – you can remain anonymous.

CO2500003741, C02500005663

MIL OSI News –

February 10, 2025
MIL-Evening Report: Cook Islands crisis: Haka with the taniwha or dance with the dragon?

The Cook Islands finds itself in a precarious dance — one between the promises of foreign investments and the integrity of our own sovereignty. As the country sways between partners China and Aotearoa New Zealand, the Cook Islands News asks: “Do we continue to haka with the Taniwha, our constitutional partner, or do we dance with the dragon?”

EDITORIAL: By Thomas Tarurongo Wynne, Cook Islands News

Our relationship with China, forged through over two decades of diplomatic agreements, infrastructure projects and economic cooperation, demands further scrutiny. Do we continue to embrace the dragon with open arms, or do we stand wary?

And what of the Taniwha, a relationship now bruised by the ego of the few but standing the test of time?

If our relationship with China were a building, it would be crumbling like the very structures they have built for us. The Cook Islands Police Headquarters (2005) was meant to stand as a testament to our growing diplomatic and financial ties, but its foundations — both literal and metaphorical — have been called into question as its structure deteriorated.

COOK ISLANDS NEWS

Then, in 2009, the Cook Islands Courthouse followed, plagued by maintenance issues almost immediately after its completion. Our National Stadium, also built in 2009 for the Pacific Mini Games, was heralded as a great achievement, yet signs of premature wear and tear began surfacing far earlier than expected.

Still, we continue this dance, entranced by the allure of foreign investment and large-scale projects, even as history and our fellow Pacific partners across the moana warn us of the risks.

These structures, now symbols of our fragile dependence, stand as a metaphor for our relationship with the dragon: built with promises of strength, only to falter under closer scrutiny. And yet, we keep returning to the dance floor. These projects, rather than standing as enduring monuments to our relationship with China, serve as cautionary tales.

And then came Te Mato Vai.

What began as a bold and necessary vision to modernise Rarotonga’s water infrastructure became a slow and painful lesson in accountability. The involvement of China Civil Engineering Construction Corporation (CCECC) saw the project mired in substandard work, legal disputes and cost overruns.

By the time McConnell Dowell, a New Zealand firm, was brought in to fix the defects, the damage — financial and reputational — was done.

Prime Minister Mark Brown, both as Finance Minister and now as leader, has walked an interesting line between criticism and praise.

In 2017, he voiced concerns about the poor workmanship and assured the nation that the government would seek accountability, stating, “We are deeply concerned about the quality of work delivered by CCECC. Our people deserve better, and we will pursue all avenues to ensure accountability.”

In 2022, he acknowledged the cost overruns but framed them as necessary lessons in securing a reliable water supply. And yet, most recently, during the December 2024 visit of China’s Executive Vice Foreign Minister Ma Zhaoxu, he declared Te Mato Vai a “commitment to a stronger, healthier, and more resilient nation. Together, we’ve delivered a project that not only meets the needs of today but safeguards the future of Rarotonga’s water supply.”

The Cook Islands’ relationship with New Zealand has long been one of deep familial, historical and political ties — a dance with the taniwha, if you will. As a nation with free association status, we have relied on New Zealand for economic support, governance frameworks and our shared citizenship ties.

And they have relied on our labour and expertise, which adds over a billion dollars to their economy each year. We have well-earned our discussion around citizenship and statehood, but that must come from the ground up, not from the top down.

China has signed similar agreements across the Pacific, most notably with the Solomon Islands, weaving itself into the region’s economic and political fabric. Yet, while these partnerships promise opportunity, they also raise concerns about sovereignty, dependency and the price of such alignments, as well as the geopolitical and strategic footprint of the dragon.

But as we reflect on the shortcomings of these partnerships, the question remains: Do we continue to place our trust in foreign powers, or do we reinvest in our own community and governance systems?

At the end of the day, we must ask ourselves: How do we sign bold agreements on the world stage without consultation, while struggling to resolve fundamental issues at home?

Healthcare, education, the rise in crime, mental health, disability, poverty — the list goes on and on, while our leaders are wined and dined on state visits around the globe.

Dance with the dragon, if you so choose, but save the last dance for the voting public in 2026. In 2026, the voters will decide who leads this dance and who gets left behind.

Republished from the Cook Islands News with permission.

MIL OSI Analysis – EveningReport.nz –

February 10, 2025
MIL-OSI: Canadian disruptor, Questrade, introduces $0 trade commissions
Source: GlobeNewswire (MIL-OSI)

TORONTO, Feb. 09, 2025 (GLOBE NEWSWIRE) — Questrade (www.questrade.com) — Canada’s #1 rated¹ online brokerage — eliminates trading commissions on its platforms, further empowering Canadians.

“We are continuing our tradition of disrupting the industry,” said Edward Kholodenko, president and CEO, Questrade. “We believe Canadians should keep more of their money, and $0 commissions, coupled with our industry-leading platform, will help them do just that – whether they are just starting out or are highly sophisticated traders.”

The new $0 pricing, which is now live, will allow Questrade customers to trade Canadian and U.S. listed equities and ETFs commission-free, with options as low as 75¢ per contract².

Because news this big needed a launch to match, Questrade partnered with actor Gabriel Macht. Known for portraying characters who “get theirs,” Gabriel introduces Canadians to the idea of $0 commissions being the way for you to finally “Get Yours.” Macht says, “I really respect what Questrade stands for as a brand, to me the partnership was the perfect fit.”

Questrade, a 100% Canadian-owned independent brokerage, has a long history of providing value to Canadians. It was first to reduce trading fees to $9.95, when most brokerages charged $30 or more. Then, Questrade introduced the $4.95 stock trade, and shook things up again with stock trading for as little as one cent per share.

However, the company’s innovation isn’t just its pricing. On top of $0 commissions, Questrade has an unmatched suite of offerings, such as:
- Being the first Canadian broker to offer the First Home Savings Account (FHSA), helping customers save for a home faster
- Award-winning customer service³
- Edge platforms for advanced traders, available on mobile, web, and desktop
- Complex order types, such as multi-leg options
- Seamless integration with 30+ platforms, including TradingView and Passiv
- Lower fees for better returns with Questwealth Portfolios⁴
- Free U.S. dollar (USD) accounts
“We are obsessed with helping our customers build a better financial future – that’s our mission,” said Kholodenko.

Awards and Recognition

About Questrade

Questrade, Inc. (“Questrade”) is changing the Canadian financial services industry by leveraging technology to lower fees while providing a viable alternative to traditional financial investment options, thereby allowing Canadians to Keep More of their Money. As a leader and innovator in financial services, Questrade is a trusted ally that advocates for consumers, focused on improving value. With 25 years of challenging the status quo as one of Canada’s leading, non-bank online brokerages and over $50 billion in assets under administration, Questrade and its affiliates provide financial products and services, including securities and foreign currency investments. For more information, visit www.questrade.com or on Facebook and X (formerly Twitter) @Questrade. Questrade, Inc. is a registered investment dealer, a member of the Canadian Investment Regulatory Organization (CIRO), and a member of the Canadian Investor Protection Fund (CIPF). Questrade is a wholly owned subsidiary of Questrade Financial Group Inc.

¹MoneySense 2024

²For options trades placed online through the Questrade, Inc. website or mobile apps, the base commission has been reduced to 0.99¢ per contract. The per contract rate for online options trading is further reduced to 0.75¢ if subscribed to an active trader plan.

³In 2025, Questrade was awarded the DALBAR Seal of Service Excellence for the seventh consecutive year. The recognition is given to firms across the financial services industry that demonstrate standout customer service and an exceptional standard of care, including telephone interactions and service delivery.

⁴Questrade.com/questwealth-portfolios

Media Contact

For more information, contact Susan Willemsen at The Siren Group Inc. Tel: 416-461-1567 or M: 416-402-4880, or email: susan@thesirengroup.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6df3f9c6-5c49-4b13-b3c7-48bef6f963de

The MIL Network –
February 10, 2025
MIL-OSI Asia-Pac: HKETO, Brussels hosts receptions in TÃ¼rkiye and Italy to celebrate Chinese New Year (with photos)

Source: Hong Kong Government special administrative region

HKETO, Brussels hosts receptions in Türkiye and Italy to celebrate Chinese New Year (with photos)
HKETO, Brussels hosts receptions in Türkiye and Italy to celebrate Chinese New Year (with photos)
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The Hong Kong Economic and Trade Office in Brussels (HKETO, Brussels) hosted Chinese New Year receptions in Istanbul and Izmir, Türkiye respectively on January 30 and 31, followed by Milan, Italy on February 6, to carry on its series of celebration activities for the Year of the Snake. The Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Ms Shirley Yung emphasised in her welcoming remarks at the reception in Istanbul that Hong Kong remained as the prime gateway and super connector between China and the rest of the world, with our distinctive advantages under “One Country, Two Systems”. “As an international financial, trade and shipping centre, and international hub for high caliber talents, we welcome more investors, innovators, start-ups and talents to make Hong Kong your partner and base for grapping the opportunities at both regional and global levels,” said Ms Yung. Ms Yung highlighted that Hong Kong’s appeal as a global destination continues to grow. She also shared the good news of the reduction in liquor tax, and encouraged enterprises to take Hong Kong as a hub for global wine and liquor trade. “We invite you to visit Hong Kong and indulge in its tempting gastronomic experience, complemented by high-quality wines and liquors,” added Ms Yung. HKETO, Brussels took the opportunity to showcase Hong Kong’s unique East-meets-West culture. A cross-media performance fused with Chinese kung-fu, modern electronic music, comic and animation inspired by Hong Kong action movies was presented by the Hong Kong Arts Centre (Comix Home Base), showcasing the innovation and creativity of young artists in Hong Kong. The guests attending the reception in Milan were greeted by a delightful mix of Italian opera aria and Cantonese songs performed by an ensemble of talented Hong Kong musicians. The receptions in Istanbul, Izmir and Milan brought together 400 guests, including officials from national governments, consulates and embassies, financial and business sectors, academia, cultural and creative sectors, media and the Chinese community, in Türkiye and Italy to mark the enduring friendship with Hong Kong. They were co-organised with Invest Hong Kong and the Hong Kong Trade Development Council.

Ends/Monday, February 10, 2025Issued at HKT 3:30

NNNN

MIL OSI Asia Pacific News –

February 10, 2025
MIL-OSI Asia-Pac: Raksha Mantri to inaugurate Aero India 2025 at Yelahanka Air Force Station in Bengaluru on February 10, 2025
Source: Government of India

Raksha Mantri to inaugurate Aero India 2025 at Yelahanka Air Force Station in Bengaluru on February 10, 2025

Showcasing air power, cutting-edge innovations & potential new global collaborations, the five-day event to provide thrust to the goal of Viksit Bharat by 2047

Aero India 2025 will advance our vision of a strong, capable, secure & self-reliant India: Shri Rajnath Singh

Participation of over 900 exhibitors & 90 countries set to make it the biggest-ever Aero India till date; Approx. 30 Defence Ministers & over 100 OEMs to attend

Domestic defence production expected to cross Rs 1.60 lakh crore by 2025-26, with exports touching Rs 30,000 crore mark: RM

Posted On: 09 FEB 2025 6:21PM by PIB Delhi

The 15^th edition of Aero India, Asia’s biggest aerospace and defence exhibition, will be inaugurated by Raksha Mantri Shri Rajnath Singh at the Yelahanka Air Force Station in Bengaluru, Karnataka on February 10, 2025. With the broad theme of ‘The Runway to a Billion Opportunities’, the five-day extravaganza will showcase India’s aerial prowess and indigenous cutting-edge innovations alongside state-of-the-art products of global aerospace companies. In line with ‘Aatmanirbhar Bharat’ and ‘Make in India, Make for the World’ vision, the event will also provide a stage to forge international collaborations to fast-track the indigenisation process, thereby providing a thrust to Prime Minister Shri Narendra Modi-led Government’s resolve of making the country Viksit Bharat by 2047.

Addressing a press conference in Bengaluru on the eve of the event, Raksha Mantri described Aero India as a crucial platform, which will drive forward the Government’s vision of a strong, capable India, secure and self-reliant India. “Aero India is a platform that showcases the strength, resilience, and self-reliance of New India. It is not just crucial for India’s defence preparedness, but it also plays a pivotal role in shaping the future of our nation. It will demonstrate our defence capabilities and forge global partnerships. Our goal is to enhance collaboration in areas of common interest with our friendly nations, fostering deeper cooperation and shared progress. The event is not just a showcase of technology and innovation, but will also serve as a source of inspiration for our youth, fostering scientific temperament and a spirit of innovation,” he said.

Organised in a total area of over 42,000 sq m and with the confirmed participation of over 900 exhibitors, including 150 foreign companies, the event is set to be the biggest-ever Aero India till date. Shri Rajnath Singh termed the participation of more than 90 countries as a testament to the growing global confidence in India’s aerospace and defence capabilities. “Defence ministers or representatives from about 30 countries have come to participate in this event. The presence of Air Chiefs and Secretaries from 43 countries further highlights the significance of this event – not just for India, but for the entire international defence community,” he said.

Highlighting the transformation of the defence and aerospace sector in the recent years, Raksha Mantri asserted that, today, India is not only capable of designing and developing major platforms and equipment within India, it has also successfully established a vast supply chain within the country. “Advanced platforms like Light Combat Aircraft Tejas, Light Combat Helicopter Prachand and C-295 Transport Aircraft are now being produced in India. We have also taken a firm resolve to manufacture fifth-generation fighter aircraft within the country. From the advanced variants of the Agni missile, the Astra missile system, and the Pinaka missile system to the cutting-edge Hypersonic missile system and the Akash air defence system, we have built numerous success stories. These achievements have played a crucial role in strengthening our defence sector, making India more self-reliant and secure,” he said.

Shri Rajnath Singh added that post corporatisation of Ordnance Factory Board, the newly formed companies have started performing exceptionally well in defence production. “Under a well-considered and well-developed plan, we have actively worked to empower the private sector in the defence and aerospace industries. Today, India has a thriving private defence industry that has firmly established itself and is making significant contributions to our national security,” he said.

Raksha Mantri expressed confidence that defence production, having crossed the record figure of Rs 1.27 lakh crore, will exceed Rs 1.60 lakh crore by the end of 2025-26. Defence exports, which touched the record figure of Rs 21,000 crore, he said, will surpass Rs 30,000 crore.

Shri Rajnath Singh underlined the crucial role being played by the defence industrial sector in making India an economic super power. He stated that any breakthrough in the defence sector not only strengthens national security, but also impacts the economy. Technologies developed for defence applications promote innovation in the civil sector as well, leading to employment generation and economic development, he said. He termed Aero India a significant driver of economic strength, contributing to the overall growth and development of the economy. He expressed confidence that Aero India will be remembered as a historic milestone in India’s journey towards becoming a global leader in the aerospace and defence sector.

The 15^thAero India will be held between 10^thand 14^thFebruary 2025. February 10^thto 12^thhave been reserved as business days, with 13^th& 14^thset as public days for people to witness the show. The event comprises Defence Ministers’ Conclave; CEOs Roundtable; inauguration of India & iDEX Pavilions; Manthan iDEX event; Samarthya Indigenisation event; Valedictory function; seminars; breath-taking airshows and an exhibition of aerospace companies.

Defence Ministers’ Conclave

With the aim to strengthen defence cooperation with friendly nations amidst a rapidly-evolving global security landscape, Raksha Mantri will host the Defence Ministers’ Conclave on February 11 in hybrid mode. The theme this year ‘Building Resilience through International Defence and Global Engagement (BRIDGE)’ underscores the importance of supply chain resilience and strategic collaboration in defence.

The last edition witnessed the participation of 27 Defence Ministers and Deputy Defence Ministers alongside 15 Defence & Service Chiefs and 12 Permanent Secretaries. This year, the participation has expanded as representatives from more than 80 countries are likely to participate in the conclave. Approx. 30 Defence Ministers in addition to Defence/Service Chiefs and Permanent Secretaries from friendly nations will attend the event.

The conclave will provide a crucial platform to address key aspects such as Defence capacity building through investment, joint ventures & co-production, Collaboration in R&D, training & technological advancements in AI & space, Maritime security cooperation and strategic partnerships.

CEOs Roundtable

CEOs Roundtable 2025 will be chaired by Raksha Mantri on February 10, on the theme ‘Enabling Defence Cooperation through Global Engagement (EDGE)’. Over 100 Original Equipment Manufacturers (OEMs) have confirmed their participation in the event. These include 55 from 19 countries (USA, France, Russia, South Korea, UK, Japan, Israel & Brazil etc), 35 Indian (Larsen & Toubro, Bharat Forge Ltd, Adani Defence & Aerospace, Mahindra Defence Systems Ltd, BrahMos Aerospace & Ashok Leyland Defence) and 16 Defence Public Sector Undertakings (DPSUs). Shri Rajnath Singh had addressed over 73 CEOs of 28 Foreign OEMs and 45 Indian OEMs in the 2023 edition of the event.

Major foreign OEMs including Airbus (France), Ultra Maritime (USA), GNT (South Korea), John Cockerill Defence (UK), Mitsubishi (Japan), Rafael Advance Defence System (Israel), Safran (France) and Liebherr Aerospace (France) are expected to highlight their future plans, Joint Ventures, collaborations, partnerships with Indian companies for production of spares parts, development of aero-engines, setting up of Maintenance, Repair and Operations (MRO) facilities and establishment of R&D facilities etc.

India Pavilion

The India Pavilion will provide an opportunity to Indian Defence Industries to showcase their design, development, innovation and manufacturing capabilities. It will be inaugurated by Raksha Mantri on February 10. The grandeur show at India Pavilion would signify the ‘Flight of Self-Reliance’ which encapsulates India’s journey towards becoming a global aerospace and defence powerhouse.

India Pavilion will be divided into five distinct zones displaying indigenous capabilities in aero aviation, land aviation and naval aviation, def-space and niche technologies domains. More than 275 exhibits will be at display through various mediums, represented by complete defence ecosystem of the country which includes DPSUs, design houses, private corporates including MSMEs and start-ups. The Central Area exhibits will include a striking display of marquee platforms including Advanced Medium Combat Aircraft, Combat Air Teaming System, Twin-Engine Deck-Based Fighter.

iDEX Pavilion

The iDEX Pavilion will be inaugurated by Raksha Mantri on February 10. It will showcase cutting-edge indigenously developed products and technologies, marking a significant milestone in India’s defence innovation journey. Leading innovators will display their indigenously-developed products spanning a wide-range of advanced domains including Aerospace, DefSpace, Aero Structures, Anti-drone systems, Autonomous Systems, Robotics, Communication, Cybersecurity, Surveillance & Tracking, Unmanned Ground Vehicles etc. The Pavilion will also feature a dedicated section highlighting the winners of Acing Development of Innovative Technologies with iDEX (ADITI) scheme, showcasing their ground-breaking work in critical and niche technologies.

iDEX has successfully onboarded over 600 start-ups and MSMEs, marking a significant milestone in fostering innovation. Furthermore, 40 prototypes developed under iDEX have received official clearance for procurement, with 31 procurement contracts worth Rs 1,560 crore already signed.

Manthan

Manthan 2025, the flagship annual defence innovation event, will be graced by Raksha Mantri on February 12. Organised by Innovations for Defence Excellence – Defence Innovation Organisation (iDEX-DIO), the event will bring together stakeholders of the defence innovation ecosystem including innovators, industry leaders, academia, incubators, investors, thought leaders, senior government officials etc.

Manthan will deliberate on emerging challenges and opportunities in the sector, with a focus on supporting defence start-ups and MSMEs, enhancing innovation capabilities, and fostering strategic collaborations within the defence ecosystem. It stands as a testament to the scale and speed of iDEX, showcasing the rapid strides made in defence innovation and the pivotal role of start-ups in transforming India’s defence capabilities.

Samarthya

On the success story of indigenisation and innovation in the defence sector, an Indigenisation event on the theme ‘SAMARTHYA’ will be held on February 12 alongside the Valedictory function which will be graced by Raksha Mantri. This event is first-of-its-kind during Aero India, as it will showcase India’s indigenous ingenuity in defence manufacturing by demonstrating some of the major items indigenised by DPSUs, DRDO and Services with the involvement of the private sector.

Bilateral Meetings

Bilateral meetings at the levels of Raksha Mantri/Raksha Rajya Mantri/Chief of Defence Staff/Service Chiefs/Defence Secretary/Secretary (Defence Production) will take place on the sidelines of Aero India 2025.

Seminars

A number of seminars on a variety of topics will be organised as part of Aero India 2025. On February 11, Raksha Mantri is scheduled to address a seminar organised by the Indian Air Force on the theme ‘Manned Unmanned teams for Aerial Warfare – concept to targeting’ and another organised by DRDO on the theme ‘DRDO Industry Synergy towards Viksit Bharat’.

Other seminars on the themes – Mission DefSpace: From Vision to Reality – A Progress Report; Indigenous Development of Aerospace Materials: Strengthening India’s Self-Reliance; Transition to Aatmanirbhar Indian Naval Aviation 2047 and its associated ecosystem; Transformation of Maritime Aviation by Adopting Technological trends and Indigenisation; Aligning Technologies to Future Conflicts; and Investment Opportunities for Aerospace & Defence Manufacturers in Karnataka – will also be held as part of the event.

Historic First – Su-57 and F-35 at Aero India

For the first time in history, Aero India 2025 will witness the participation of two of the world’s most advanced fifth-generation fighter aircraft – the Russian Su-57 and the American F-35 Lightning II. It marks a milestone in global defence collaboration and technological advancement, offering aviation enthusiasts and defence experts an unparalleled prospect to witness these state-of-the-art warplanes.
- Su-57: Russia’s premier stealth multirole fighter is designed for superior air superiority and strike capabilities. Equipped with advanced avionics, supercruise capability, and stealth technology, it is making its debut at Aero India 2025. Visitors can expect high-speed aerial manoeuvres and tactical demonstrations that highlight the fighter’s agility, stealth and firepower.
- F-35 Lightning II: The Lockheed Martin F-35 Lightning II, the most widely-deployed fifth-generation fighter, integrates advanced stealth, unparalleled situational awareness and networked combat capabilities. Its presence at Aero India 2025 will enable visitors to witness the flagship of US Air Force.
The inclusion of both the Su-57 and F-35 highlights India’s position as a key hub for international defence and aerospace collaboration. Aero India 2025 will provide a rare side-by-side comparison of Eastern and Western fifth-generation fighter technology, offering defence analysts, military personnel and aviation enthusiasts valuable insights into their respective capabilities.

Visitor-Friendly Experience

With key infrastructure upgrades and improved amenities, Aero India 2025 promises to be bigger, smoother and more visitor-friendly than ever before.
- Enhanced Infrastructure & Traffic Management: Recognising past challenges, extensive improvements have been made to facilitate seamless entry, movement and connectivity and there has been close coordination between Ministry of Defence, Indian Air Force (IAF), various arms of Karnataka State Government like Bengaluru Traffic Police, BBMP, NHAI, and Namma Metro. Approach roads have been widened to optimise traffic flow around Air Force Station Yelahanka so as to ease congestion and improve movement around the venue.
- Security and Emergency Preparedness: Red drone zones have been designated and published with countermeasures in place to tackle unauthorised drone activity. Rapid Mobile Units will be deployed strategically to provide quick assistance and emergency support. Continuous mock drills with multiple agencies are being conducted to ensure practical and implementable contingency plans.
- Exhibitor & Visitor Experience Enhancements: To enhance the experience for exhibitors and business delegates, the exhibition area has been revamped with several key upgrades:
- Expanded and better-ventilated exhibition halls to accommodate more exhibitors and visitors comfortably.
- Improved seating and rest zones throughout the venue.
- Additional food courts and refreshment kiosks, including Indira Canteens (at parking areas).
- Lost and found counters and ATM kiosks for visitor convenience.
- Multiple water points, medical aid posts, and a dedicated cardiac aid post for emergencies, including medical evacuation.
- Multi-Layered Security Measures: Ensuring the safety of all attendees, a multi-layered security system is being deployed in collaboration with the Ministry of Home Affairs, Bengaluru Police, CISF, and Intelligence Agencies. Measures include:
- Enhanced security protocols and faster access control.
- An operational Command and Control Centre for real-time responses to security concerns.
- 24/7 CCTV monitoring for situational awareness.
- Dedicated screening zones for visitors, exhibitors, and VIPs.
- Disaster management and fire safety committees to handle emergencies.
- Connectivity & Digital Infrastructure: To address connectivity challenges, all telecom service providers are deploying temporary mobile towers and network boosters for uninterrupted communication. A dedicated Aero India 2025 mobile app has also been launched which will provide live updates, navigation assistance, and event scheduling. Secure digital communication channels have also been established for coordination among agencies. Additionally, provisions have been made to support increased electricity demands during the event while ensuring safety.
- Airspace Management & Demonstrations: Aero India demonstrations and aircraft movements are a major highlight of Aero India 2025. In coordination with AAI and HAL, the Indian Air Force has structured a dedicated Airspace management plan including:
- Temporary flight restrictions around Aero India Force Station Yelahanka to maintain safety during scheduled demonstrations.
- Strategic Aircraft parking and refuelling plans for domestic and international participants.
- Business and Innovation Support: The Aero India provides a platform for collaborations and to facilitate B2B, G2B interactions and hosting roundtable discussions to showcase technological advancements. Special focus will be given to supporting start-ups and MSMEs by providing them with a global platform to present indigenous innovations.
- Sustainability Initiatives: Aero India 2025 is committed to sustainability and has incorporated several eco-friendly measures in its conduct like:
- Reduced vehicle movement to minimise pollution and enhance pedestrian comfort.
- Exclusive use of more than 100 E Karts for movement of visitors in the exhibition venue.
- Comprehensive waste management, including increased recycling bins, waste segregation zones, and timely disposal of waste.
With these multi-agency collaborations, Aero India 2025 is set to be one of the most well-coordinated and better organised editions to date.

Raksha Rajya Mantri Shri Sanjay Seth, Chief of Defence Staff & Secretary, Department of Military Affairs General Anil Chauhan, Chief Secretary, Government of Karnataka Dr Shalini Rajneesh, Secretary (Defence Production) Shri Sanjeev Kumar, Secretary, Department of Defence R&D and Chairman DRDO Dr Samir V Kamat, other senior officials of Ministry of Defence and industry leaders attended the curtain raiser press conference.

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VK/SR/SPS/Savvy

(Release ID: 2101170) Visitor Counter : 115

MIL OSI Asia Pacific News –
February 10, 2025
MIL-OSI Asia-Pac: Pariksha Pe Charcha
Source: Government of India

Pariksha Pe Charcha

Empowering Students, Transforming Lives

Posted On: 09 FEB 2025 12:21PM by PIB Delhi

Examinations are often a source of stress for students and their families, but the “Pariksha Pe Charcha” (PPC) initiative by Prime Minister Narendra Modi has been transforming this narrative. Scheduled for 11 AM on February 10, 2025, this year’s PPC will once again serve as an interactive platform where the Prime Minister directly engages with students, teachers, and parents. Each edition of PPC highlights innovative approaches to tackle exam-related anxiety, fostering a celebratory attitude toward learning and life.

The Record-Breaking PPC 2025

The 8th edition of PPC, scheduled on 10 February 2025, has already set a new benchmark. With over 5 crore participation, this year’s program exemplifies its status as a Jan Andolan, inspiring collective celebration of learning This year, 36 students from all State and UT, have been selected from State / UT Board Government schools, Kendriya Vidyalaya, Sainik School, Eklavya Model Residential School, CBSE and Navodaya Vidyalaya. Pariksha Pe Charcha 2025 will feature seven insightful episodes, bringing together renowned personalities from diverse fields to guide students on essential aspects of life and learning. Each episode will address key themes:
- Sports & Discipline – M.C. Mary Kom, Avani Lekhara, and Suhas Yathiraj will discuss goal setting, resilience, and stress management through discipline.
- Mental Health – Deepika Padukone will emphasize the importance of emotional well-being and self-expression.
- Nutrition – Experts Shonali Sabherwal, Rujuta Diwekar, and Revant Himatsingka (Food Farmer) will highlight healthy eating habits, sleep, and overall well-being.
- Technology & Finance – Gaurav Chaudhary (Technical Guruji) and Radhika Gupta will explore technology as a learning tool and financial literacy.
- Creativity & Positivity – Vikrant Massey and Bhumi Pednekar will inspire students to cultivate positivity and manage negative thoughts.
- Mindfulness & Mental Peace – Sadhguru will introduce practical mindfulness techniques for mental clarity and focus.
- Stories of Success – Toppers from UPSC, IIT-JEE, CLAT, CBSE, NDA, ICSE, and past PPC participants will share how PPC shaped their preparation and mindset.
A Journey Through the Years

2024: Nationwide participation.

The seventh edition of PPC, held on January 29, 2024, was expansive with 2.26 crore registrations on the MyGov portal, it reflects the program’s immense popularity and relevance. For the first time, 100 students from Eklavya Model Residential Schools (EMRS) participated, symbolizing the inclusivity of the initiative. The event was held in a town-hall format at Bharat Mandapam, ITPO, Pragati Maidan, New Delhi, with approximately 3,000 participants, including students, teachers, parents, and winners of the Kala Utsav.

Pariksha Par Charcha 2024

2023: Widening Participation

The 6th Edition of PPC was conducted on 27 January 2023 at Talkatora Stadium, New Delhi. Hon’ble Prime Minister of India interacted with students, teachers and parents during this programme and gave his valuable suggestions/ inputs to all stakeholders. The programme was telecast live by many TV Channels and YouTube channels. 718110 students, 42337 employees and 88544 Parents viewed the live programme of PPC-2023. The interaction of the Hon’ble Prime Minister of India with students, teachers and parents was inspiring, motivating thought-provoking for all.

Pariksha Par Charcha 2023

2022: The Revival of Physical Interactions

5th Edition of PPC was conducted on 1st April 2022 at Talkatora Stadium, New Delhi. Hon’ble Prime Minister of India has interacted with students, teachers and parents in this programme and has given them his valuable suggestions/ inputs. 9,69,836 students, 47,200 employee and 1,86,517 parents viewed the live programme of Pariksha Pe Charcha-2022. The programme was telecast live by the many TV Channels and YouTube channel etc

Pariksha Par Charcha 2022

2021: The Virtual Connection

In response to the COVID-19 pandemic, the fourth edition of PPC was held online on 7 April 2021. Despite the challenges posed by the pandemic, the interaction continued to inspire students and their families. The focus shifted to resilience and adaptability, teaching life skills to help students navigate uncertain times.

Pariksha Par Charcha 2021

2020: Expanding Participation

The unique Town Hall format of the event in which the Hon’ble Prime Minister directly interacted with school students at the Talkatora Stadium, New Delhi was held on 20th January, 2020. The event broadened its scope with an online competition for students that received 2.63 lakh entries. Students from all over India and also Indian students residing abroad from 25 countries participated. The event highlighted the need to embrace challenges as stepping stones for success.

Pariksha Par Charcha 2020

2019: Growing Reach

On January 29, 2019, the second edition of PPC took place at the same venue, witnessing an even greater level of participation. The interaction, which lasted for over ninety minutes, saw students, teachers and parents relax, laugh, and repeatedly applaud the Prime Minister’s observations, which included a touch of humour and wit.

Pariksha Par Charcha 2019

2018: The Inaugural Interaction

The first-ever Pariksha Pe Charcha was held on February 16, 2018, at Talkatora Stadium, New Delhi. There were more than 2500 students from schools and colleges who were present in Talkatora Stadium of 16th February, 2018 for the interaction and more than 8.5 Crore students from across the country viewed or heard the programme on DD/TV Channels/ Radio Channels. The Prime Minister emphasized holistic development, resilience, and the importance of maintaining balance during exams. The event’s success set the tone for future editions.

Pariksha Par Charcha 2018

The Impact of Pariksha Pe Charcha

Over the years, PPC has evolved into an opportunity aimed at transforming exam-related stress into positive energy. By addressing real questions and offering actionable solutions, Prime Minister Modi has bridged the gap between policy and practice, empowering students to thrive under pressure. The program’s inclusivity, digital reach, and innovative approaches ensure its continued success as a cornerstone of student engagement in India. With each passing year, PPC reinforces the message that exams are not the end but a beginning!

References

Annual report 2023-24 to 2018-19. https://www.education.gov.in/documents_reports?field_documents_reports_tid=All&field_documents_reports_category_tid=All&title=&page=1

https://innovateindia1.mygov.in/#skip-main

https://pib.gov.in/PressReleasePage.aspx?PRID=2092794

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2000010

https://pib.gov.in/Pressreleaseshare.aspx?PRID=1561793

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2100184

Click here to download PDF

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Santosh Kumar/ Sarla Meena/ Madiha Iqbal

(Release ID: 2101104) Visitor Counter : 84

MIL OSI Asia Pacific News –
February 10, 2025
MIL-OSI USA: Fact Sheet: President Donald J. Trump Eradicates Anti-Christian Bias

US Senate News:

Source: The White House
ERADICATING ANTI-CHRISTIAN BIAS: Today, President Donald J. Trump signed an Executive Order establishing a task force to end the anti-Christian weaponization of government and unlawful conduct targeting Christians.
The task force, officially known as the Task Force to Eradicate Anti-Christian Bias, will be comprised of members of President Trump’s cabinet and key government agencies.
The task force will review the activities of all departments and agencies to identify and eliminate anti-Christian policies, practices, or conduct.
The task force will gather input from various stakeholders to ensure broad perspectives are considered, including faith-based organizations, State, local, and Tribal governments, and Americans affected by anti-Christian conduct.
It will identify and address gaps in laws and enforcement that have contributed to anti-Christian conduct, including by remedying any failures to fully enforce the law against acts of anti-Christian hostility, vandalism, and violence.
The task force will recommend further presidential or legislative actions necessary to rectify past wrongs and protect Americans’ religious liberties.
The task force will submit an annual report on its progress, with a final report upon its conclusion.
PROTECTING AMERICANS’ RELIGIOUS FREEDOM: The previous Administration engaged in an egregious pattern of targeting peaceful Christians while ignoring violent, anti-Christian offenses. President Trump will not tolerate this abuse of government and is taking action to ensure that any unlawful and improper anti-Christian conduct, policies or practices are identified, terminated, and rectified.
The United States Constitution enshrines the fundamental right to religious liberty in the First Amendment.
The Biden Department of Justice brought felony charges and obtained multi-year prison sentences against nearly two dozen pro-life Christians for praying and peacefully demonstrating outside abortion facilities.
The Biden Department of Justice ignored hundreds of attacks on Catholic churches, charities, and pro-life centers.
In 2023, a Federal Bureau of Investigation memo asserted that traditional Catholics were domestic-terrorism threats and suggested infiltrating Catholic churches as “threat mitigation.”
The Biden Department of Education sought to repeal religious-liberty protections for faith-based organizations on college campuses.
The Biden Equal Employment Opportunity Commission sought to force Christians to affirm radical transgender ideology against their faith.
The Biden Department of Health and Human Services sought to drive Christians out of the foster-care system.
In 2024, the Biden Administration declared Easter Sunday as “Transgender Day of Visibility.”
STANDING UP FOR RELIGIOUS LIBERTY: President Donald J. Trump is committed to protecting Americans’ fundamental right to religious freedom.
On his fourth day in office, President Trump pardoned the Christians and pro-life activists who were persecuted by the Biden Administration for praying and peacefully living out their faith.
Last week, President Trump signed an Executive Order to combat anti-Semitism on our campuses and in our streets.
President Trump: “I will create a new federal task force on fighting anti-Christian bias. That’ll be done immediately.”
This Executive Order also builds on the long list of accomplishments from the first Trump Administration:
During his first year in office, President Trump signed an Executive Order upholding religious liberty and the right to engage in religious speech.
President Trump signed an Executive Order recognizing the essential contributions of faith-based organizations and establishing the Faith and Opportunity Initiative.
President Trump reversed the Obama-era policy that prevented the government from providing disaster relief to religious organizations.

President Trump hosted a Global Call to Protect Religious Freedom event at the United Nations and called on the international community and business lead

MIL OSI USA News –

February 10, 2025
MIL-OSI Australia: Update three-car crash Bridgewater Bridge

Source: Tasmania Police

Update three-car crash Bridgewater Bridge

Sunday, 9 February 2025 – 11:46 am.

Two youths have been taken into custody following an evade incident on the Bridgewater Bridge this morning.
The pair were observed driving a stolen vehicle south on the Midland Highway around 8:30am, when they failed to stop for police. Officers deployed road spikes on the Midland Highway near the Bridgewater causeway.
The driver continued to drive the vehicle crashed into two other vehicles causing minor damage. The two 15-year-old youths ran from the vehicle and were apprehended by police nearby.
One of the youths has been taken to hospital as a precaution. No other injuries were reported.
Traffic was diverted via New Norfolk and the Bowen Bridge.
The Bridgewater causeway will remain closed until around midday.
Investigations are ongoing, and police urge anyone with information or dashcam footage of the incident to contact Tasmania Police on 131 444 or Crime Stoppers on 1800 333 000 or report online at crimestopperstas.com.au

MIL OSI News –

February 10, 2025
MIL-Evening Report: Schools need parent permission to put students’ photos on social media. 3 questions to ask before you say yes
Source: The Conversation (Au and NZ) – By Karley Beckman, Senior Lecturer in Digital Technologies for Learning, University of Wollongong

If you are a parent of a school student, you may have received a form seeking permission to use your child’s image on school social media accounts.

It’s very common for schools to share photos of smiling students on platforms such as Facebook and Instagram. This may be to celebrate the start of term, student achievements, or performances and events at the school.

Schools need permission from parents to publish or disclose students’ personal information, including photos and videos, on any online platform.

But research suggests families can lack support and information to provide fully informed consent.

Read more:
Is your child’s photo on their school Facebook page? What does this mean for their privacy?

Why do schools post photos online?

Our recent study showed one of main reasons schools post on social media is they believe it is what parents want. This is part of marketing their school as a positive place to learn.

But some parents take a more cautious approach to social media and don’t necessarily want photos of their children made public online.

There is significant community concern about children’s online privacy and their digital footprint or the information trail about them.

Last month, the Australian Federal Police warned parents about sharing images of their children online, especially back-to-school photos. It recommended parents blur or obscure the logo of the child’s school. Police also noted how background features can identify a school or child’s location.

The AFP has seen non-explicit pictures of children and young people become the target of highly sexualised and inappropriate comments or role play.

The risks also go beyond other people identifying your child online. Photos of children shared online can be used to train AI models or create deepfakes that are increasingly being used in cases of cyber bullying and cyber abuse.

School social media accounts are a way of marketing to families and the community.
SpeedKingz/Shutterstock

What are the rules in Australia?

The Australian Privacy Act and related Australian Privacy Principles, say consent to share personal information should be current, clearly explained and specific.

This is why schools need to ask parents at the start of each year, but how they do this will depend on the state education department or individual school.

Here are three questions to consider before you sign.

1. What is the school asking you for?

While approaches vary, it is common for schools to ask for several types of permission in one bundle.

For example, they may ask if they can use photos and videos of your child in the school newsletter, school website, annual report, online learning platforms, traditional news media as well as social media.

So the locations where your child’s information and photo may be shared are quite different in terms of privacy and your child’s digital footprint.

For example, this could involve a photo of your child doing a class activity shared on a secure education app, or a video of your child on a public Facebook page.

Parents have the right to consent and/or decline the use of their children’s information for specific purposes. If you can’t do this on the form, you can contact the school.

2. What does the school post?

Before providing or declining consent, you may want to take a closer look at the kinds of posts the school shares. This includes:
- the quantity of information shared (number of photos or videos shared, and how often)
- strategies used to protect children’s privacy (no names or locations, or photos in which children are not clearly identifiable or faces are obscured)
- the purpose of the posts (can you see the value and benefit of sharing information?).
Think about whether the school’s approach fits with your family’s approach to social media and what you share.

3. How does your child feel?

Research shows children as young as eight are developing an understanding of the risks of sharing personal information online.

Understanding how your child feels about their school’s social media is important in making an informed decision about consent. It also helps teach them about making decisions about their digital footprint.

You could ask your child:
- are they aware of the school social media sites?
- how does having their photo taken, or not, at school make them feel?
- are they asked when their photo is taken, and are they told where it will be used or shared?
These forms can seem routine or presented as if it’s not a big deal. But if you have any questions or concerns you should talk to your school. Schools can help you with more information and can also forward feedback to education departments. This is particularly important as we navigate the changing nature of social media and the potential impacts on children.

Karley Beckman is an Associate Investigator with the Australian Research Council Centre of Excellence for the Digital Child.

Tiffani Apps is an Associate Investigator with the Australian Research Council Centre of Excellence for the Digital Child

– ref. Schools need parent permission to put students’ photos on social media. 3 questions to ask before you say yes – https://theconversation.com/schools-need-parent-permission-to-put-students-photos-on-social-media-3-questions-to-ask-before-you-say-yes-249273
MIL OSI Analysis – EveningReport.nz –
February 10, 2025
MIL-OSI: Omnity Network Launches RichSwap, a Non-Custodial, Bridgeless Runes AMM DEX for DeFi on Bitcoin

Source: GlobeNewswire (MIL-OSI)

SAN FRANCISCO, Feb. 09, 2025 (GLOBE NEWSWIRE) — via IBN – RichSwap is the first AMM DEX for trustless on-chain runes trading without bridges, wrapping, custodians, off-chain software, or single points of failure. Transactions are executed completely on the Bitcoin network or rolled back in full, safeguarding users from extortion. Users retain full custody of their assets in their Bitcoin wallet without needing to deposit or withdraw to any platform.

RichSwap has launched on the new Runes Exchange Environment (REE) from Omnity Network. REE marks the beginning of Bitcoin’s evolution into a programmable and decentralized financial platform. It’s a powerful toolkit for developing DeFi products directly on Bitcoin. REE’s Turing-complete compute environment offers developers the tools to replicate EVM, Solana and other common DeFi concepts on Bitcoin. Unlike competing solutions, REE needs no changes to Bitcoin core, no bridges to other blockchains, or any other extension of Bitcoin such as nonstandard opcodes.

REE Makes BTCFi Verifiable, Trustable, and Standard

Bitcoin is the world’s most secure and decentralized blockchain, but its limited programmability restricts its use in complex financial applications. Unlike account-based blockchains like Ethereum, Bitcoin operates on the UTXO (Unspent Transaction Output) model. Each transaction output is a unique reference, embracing the fungible properties of Bitcoin while introducing complexity in applications and data.

Bitcoin’s UTXO model is integral for REE because REE uses Partially Signed Bitcoin Transactions (PSBTs), standardized via BIP-174 and BIP-370. Omnity’s Decentralized PSBT Signer (DPS) orchestrates PSBTs in a publicly verifiable manner. Transactions are executed completely or rolled back in full, making front-running impossible by design. Once a PSBT is signed, all transaction inputs and outputs are defined by the user and cannot be changed, even by REE itself.

Users swapping on REE enjoy a 100x reduction in swap time while retaining custody of their assets throughout the process. Because there is no limit to the number of PSBTs bundled together or the rate of PSBT production, multiple trades per-user can occur securely within a single Bitcoin block.

“DPS allows one user and multiple protocols to co-sign a transaction using PSBTs and broadcast it to the Bitcoin network. REE coordinates this multisig process,” said Louis Liu, Founder of Omnity. “I believe DPS is the best technical approach to achieving full programmability on Bitcoin layer 1.”

RichSwap to be Open-Source Blueprint for Bitcoin Developers

The new, optimized flexibility of the runes token standard allows developers to build innovative Bitcoin DeFi applications on REE, such as lending protocols, staking platforms, and stablecoin systems on Bitcoin. REE’s RichSwap AMM DEX is designed to be an open-source blueprint for BTCFi developers. By unifying the handling of Bitcoin and Bitcoin assets, RichSwap provides a tangible example of REE’s UTXO-based Exchange-Pool model presenting similarly to account-based blockchains.

REE’s composability allows BTCFi protocols to share liquidity, asset pools, and other DeFi logic. This enables other protocols to benefit from the REE environment while bootstrapping liquidity directly from existing asset pools. Additionally, REE includes configurations for fee organization and revenue sharing. REE is driving the evolution of on-chain Bitcoin DeFi, facilitating broader adoption of PSBTs as a standard and runes as a recognized asset class.

Omnity Network’s Runes Exchange Environment (REE) introduces a programmable execution toolkit for BTCFi as presented in RichSwap, Omnity’s non-custodial, bridgeless AMM DEX for the transparent and verifiable trading of Bitcoin runes. The Omnity Network is a suite of permissionless, noncustodial, on-chain Bitcoin products secured by ICP’s Chain Key cryptography and Multi-Party Computation (MPC) network of Bitcoin node operators. Its flagship product, the Omnity Hub, connects to 18 different blockchains with verifiable light clients supporting runes, fungible BTC, and BRC20 assets.

Media Contact

Suzanne Leigh
Editor
zan@oct.network
Omnity Network

Wire Service Contact:
IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
Editor@InvestorBrandNetwork.com

A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/d50a0a3c-c886-4435-8b4b-a2517a31d95d

The MIL Network –

February 10, 2025
MIL-OSI United Kingdom: BLOG | Making the most of every pound

Source: City of Liverpool

Deputy Council Leader and Cabinet Member for Finance and Resources, Cllr Ruth Bennett, outlines the Council’s priorities in setting this year’s budget…

In the next few weeks, we’ll be setting our 2025/26 budget at Liverpool City Council. It’s been many months in preparation, with a lot of detailed work and careful planning.

We are acutely aware that, whether it is a government grant or money raised locally, it is your money we are spending.

At the heart of every decision we make is a commitment to ensure we make the most of every pound, and that it is invested in delivering good quality services. Our priority has been to make sure that we are continuing to invest in the things we know you care about.

Over the last year, we have been spending more in our neighbourhoods, joining-up services by bringing our Streetscene service back in-house, and placing staff on the ground to work with local Councillors and community organisations to direct our resources at specific issues in particular wards, such as fly-tipping, waste or match day parking. It’s already delivering success, with a 5.7 per cent reduction in the reports about fly-tipping and a drop of around 25 per cent in both street cleaning and weeding requests. We’ve also halfway through recruiting 40 new parking enforcement officers to tackle inconsiderate drivers.

At the same time, our drive to make sure we bring in as much of our owed income continues. Our in-year council tax collection rate is currently much improved and better than other big ‘core’ cities, and we’re on with being far more robust with businesses who owe money to us and you – the residents of Liverpool.

We’ve reviewed our Council Tax Support Scheme for the first time in a decade to make sure it is fit for purpose, and a review of single person Council Tax discount is bringing in hundreds of thousands of pounds extra a year. We’re getting into an annual cycle of reviewing fees and charges so that it becomes business as usual, because these make an essential contribution to our overall budget.

We’ll also be rolling out improvements in customer services, including the introduction of a new case management platform. In simple terms, it will enable you to access more services online, over the phone, or in-person, and get real-time updates and information, in the same way as you would expect from your internet or energy provider.

Along with many other councils up and down the country, we face demand pressures in areas such as social care, homelessness and SEND transport, but we have plans in place to deal with this and, where necessary, mitigate the financial impact.

This year we have received a greater amount of money from the Government as they changed the funding arrangements to target deprived areas. In the longer term, they are carrying out a Comprehensive Spending Review which will give us more certainty over our finances by letting us know how much we will receive in the coming years. This will help us greatly in planning for the future, helping us build on the progress we have made in the last 18 months.

MIL OSI United Kingdom –

February 10, 2025
MIL-OSI Global: Bolstering Canada’s right to repair could shield it against U.S. tariffs and trade uncertainty

Source: The Conversation – Canada – By Anthony D Rosborough, Assistant Professor of Law & Computer Science, Dalhousie University

The right to repair movement aims to give consumers, businesses and independent repair providers access to the resources needed to maintain essential products and technologies. (Shutterstock)

Canada’s economy has long relied on open trade and cross-border supply chains, but as tariff threats and market protectionism rise from the United States under President Donald Trump, so do Canada’s economic vulnerabilities.

Although the risk of a trade war between Canada and the U.S. has been given a temporary reprieve, with Trump saying he will hold off on imposing tariffs for at least 30 days, the threat still looms large.

What happens when crucial imports — farm machinery, medical devices, home appliances — become harder to access or more expensive?

The current crisis has unveiled deep weaknesses and dependencies in Canada’s economy. In 2023, 77 per cent of Canada’s exports went to the U.S., while nearly half of its imports came from its southern neighbour. For decades, this interdependence was viewed as a diplomatic success, but it’s now clear that this has come with risks and vulnerabilities too.

Read more:
Trump’s trade war is forcing Canada to revive a decades-old plan to reduce U.S. dependence

Political leaders across party lines recognize that Canada needs a plan for bolstering its economic resilience. This will require strengthening domestic manufacturing, expanding trade diversification and building new diplomatic and economic alliances. But this plan must also develop workforce resilience, domestic capacity and innovation right here at home.

The solution lies in strengthening Canadians’ right to repair the products and devices we rely upon. The right to repair is not just about environmental sustainability, it’s a matter of economic resilience; it can increase the number of well-paying Canadian jobs and reduce Canada’s dependence on unpredictable global markets.

The right to repair

The right to repair movement seeks to ensure that consumers, businesses and independent repair providers have access the parts, tools, information and software needed to repair and maintain essential products, devices and technologies.

That means not only the smartphones in our pockets and the cars we drive to work, but also the machinery that harvests our food and the medical devices that hospitals rely on to save lives.

Currently, much of this equipment is either imported or relies heavily on imported components. Canada’s agricultural sector, for instance, heavily depends on machinery imports from the U.S. to maintain productivity and food security. This machinery is notoriously difficult to repair as the result of legal and technical restrictions. Canada’s agricultural equipment industry is faced with the same challenges as independent repairers.

A maintenance engineer checks a CT scanner machine.
(Shutterstock)

Similar vulnerabilities exist in the health-care sector. Canada imports 70 per cent of its medical devices, with nearly half coming from the U.S. Much like those servicing (or using) agricultural equipment, biomedical engineers across Canada face a range of technical, legal and market barriers to keep devices online, pushing them into exclusive service contracts to keep devices working.

Read more:
A medical ‘right to repair’ can empower consumers — and save lives

Consumer devices and home appliances are also overwhelmingly imported into Canada, making them susceptible to tariffs and trade barriers — all with the potential to make Canada’s cost-of-living crisis more dire than it already is.

A path to economic resilience

The right to repair movement offers a way for Canada to reduce both its economic vulnerabilities and U.S. dependency.

Extending the lifespan of products is crucial not only for environmental sustainability and reducing waste, but also for strengthening the economy. It can also help communities be more resilient by supporting local businesses, creating jobs and boosting productivity.

Canada has made significant progress in advancing the right to repair in recent years. Bill C-59 introduced amendments to the Competition Act aimed at cracking down on manufacturers’ refusal to provide independent businesses with the parts, tools and information necessary for repair.

And, in 2024, Canada amended its Copyright Act to allow repairers to break digital locks used by manufacturers of digital goods to restrict access to repair and diagnostic information.

But these are only the first steps in a full-fledged right to repair — more needs to be done to support the right to repair in Canada.

Governments must step up

Canada’s provinces need to strengthen consumer protection laws to ban planned obsolescence and oblige manufacturers to provide access to essential repair resources.

Provinces should also prevent manufacturers from voiding warranties on products and devices that are repaired outside of authorized networks. Québec has taken a leading role in this area, but inter-provincial co-ordination will be crucial going forward.

Extending the lifespan of products is crucial not only for environmental sustainability and reducing waste, but also for strengthening the economy.
(Shutterstock)

The federal government’s job also remains unfinished. It needs to regulate repair restrictions in critical technology sectors like agriculture and health care by developing technical standards and minimum repairability requirements for equipment and devices that are purchased through public procurement processes.

Canada is also in need of federal leadership in enacting a repairability index, which scores products and devices based on their ease of repair. Such an initiative would provide consumers with the information they need to make informed purchasing decisions.

Advancing the right to repair is a cost-free policy move that will strengthen Canada’s economy in an era of trade uncertainty. Unlike subsidy programs or industry bailouts, right to repair legislation focuses on consumers and independent businesses.

By enabling workers and businesses to repair rather than replace, Canada can maximize the value of existing goods, reduce dependence on volatile global supply chains and make the country more self-sufficient, all without added government spending.

Anthony D Rosborough has received Doctoral Award funding from Canada’s Social Sciences & Humanities Research Council (SSHRC) and is a Policy Lead with Dalhousie University’s MacEachen Institute for Public Policy & Governance. Anthony is a Co-Founder of the Canadian Repair Coalition and the Principal Investigator of the Unlocking Healthcare research project (www.unlockinghealthcare.ca).

– ref. Bolstering Canada’s right to repair could shield it against U.S. tariffs and trade uncertainty – https://theconversation.com/bolstering-canadas-right-to-repair-could-shield-it-against-u-s-tariffs-and-trade-uncertainty-248970

MIL OSI – Global Reports –

February 10, 2025
MIL-OSI Global: Why Canada must seize the moment and launch its long-awaited Africa strategy

Source: The Conversation – Canada – By David J Hornsby, Professor of International Affairs and the Vice-Provost and Associate Vice-President (Academic), Carleton University

Recent events have been nothing short of shock therapy for many Canadians. The threat of economically devastating tariffs by the United States at the behest of President Donald Trump have only reinforced that the time is ripe for Canada to diversify its foreign engagements and collaborations — like with the African region.

Africa’s geopolitical and economic trajectory is reshaping the global order. With the African Continental Free Trade Area (AfCFTA) poised to become the world’s largest single market, a youthful population driving innovation and vast renewable energy potential, the continent is no longer a peripheral player — it’s a cornerstone of the 21st-century economy.

Yet Canada, despite years of consultations and pledges, has delayed the release of a comprehensive Africa trade strategy. The time for hesitation is over.

AfCFTA window is closing

The AfCFTA, which spans 54 countries and 1.3 billion people, is projected to boost intra-African trade by 52 per cent by 2035. For Canada, this represents a significant opportunity to diversify exports beyond traditional partners like the U.S. and China.

Canadian sectors from agri-food to clean tech are well-positioned to meet Africa’s demand for value-added goods and infrastructure.

Global competitors are already moving: China’s trade with Africa surpassed $200 billion in 2023, while the European Union and India have accelerated trade pact negotiations across the continent.

Without a formal strategy, Canada risks losing access to a market that could define the next decade of economic growth.

Geopolitical stakes have never been higher

Russia and China have deepened their influence across Africa, often at the expense of democratic governance and transparency. Canada’s absence isn’t just an economic miss — it’s a strategic void.

By aligning with African priorities like Agenda 2063, which emphasizes self-reliance and sustainable development, Canada can counterbalance exploitative partnerships with ones rooted in mutual benefit.

As Agenda 2063 identifies, African leaders are refocusing their agendas from the struggle against apartheid and political independence to “inclusive social and economic development, continental and regional integration, democratic governance and peace and security.” Africa faces a collective US$100 billion annual infrastructure deficit following centuries of colonial incursion and extraction.

Recent Canadian investments in peace and security, good governance, people-to-people ties ($54 million) and economic empowerment ($176 million for women and youth empowerment) signal intent, but without a unified strategy, these
efforts are fragmented.

Aligning perfectly with Africa’s needs

Canada’s world-class engineering firms and institutions like the Canada Infrastructure Bank could partner with African states and institutions like the African Development Bank and replicate successes achieved in projects like Ghana’s renewable energy grid.

Africa’s startup ecosystem thrives in the financial technology and agritech sectors, where Canadian expertise and venture capital could catalyze growth.

Projects like the Lobito Corridor, offer a chance for Canadian firms to contribute to rail and transport development that could be transformative.

With significant solar and other renewable energies potential, Africa is critical to the net-zero transition. Canadian mining firms and clean energy innovators are natural partners for lithium and cobalt projects, despite the dubious human and environmental rights track record of some Canadian mining companies in the region.

A Canada-Africa strategy needs to signal a support for mandatory adherence to environmental and human rights standards for mining firms, such as Canada’s Towards Sustainable Mining framework, while strengthening accountability through mechanisms like independent oversight and legal consequences for violations that already exist. By prioritizing partnerships with African governments and local communities, such a strategy could ensure ethical practices through transparent agreements, community consent protocols, and shared governance models foster a future of more ethical behaviour.

From aid to equity

Decades of humanitarian aid have fostered good will, but Africa’s leaders increasingly demand collaboration

Canada’s Feminist International Assistance Policy emphasizes gender equality and aligns with Africa’s push for women-led development.

But a true partnership requires reciprocity, like South Africa’s significant investments in Canadian mining and climate research collaborations. The African diaspora community, numbering over 1.2 million in Canada, is a bridge to these opportunities.

The G7 presidency provides opportunity

The alignment of the Canadian 2025 G7 presidency with South Africa’s 2025 presidency of the G20 offers a pivotal moment to unveil Canada’s African strategy and to mainstream African priorities, from debt relief to digital inclusion.

The forthcoming G20 gatherings of finance ministers and central bank governors in Cape Town offers a perfect moment to demonstrate an actual plan to diversify Canadian foreign policy engagements and interests while positioning the country to rally allies behind a renewed set of initiatives that exist across the continent.

To delay any further will not only frustrate business and diaspora groups alike, but will continue to relegate Canada to a marginal role in the continent’s economic and social development.

The EU’s public and private investments in the green and digital transitions in Kenya and Ghana’s lithium deal with Australia underscore the urgency for a co-ordinated and concerted approach. Canada’s reputation as a reliable partner hangs in the balance.

A call for cohesion

A Canadian Africa strategy is critical now more than ever. To fully engage, any plan will need to articulate pan-African trade and streamlined export opportunities. It should leverage soft power by expanding diplomatic missions across regional economic communities.

Investing in mutual growth via joint ventures in mining, agri-processing, and digital infrastructure is also crucial. Embedding climate justice by linking critical mineral exports to African renewable energy projects will foster sustainable development — all the while maintaining key imperatives of gender equality, one health and the exchange of knowledge through things like the South Africa-Canada Universities Network.

Africa’s rise isn’t a distant future — it’s unfolding now. Canada has the tools, the values and the economic imperative to act. Delaying further isn’t just a missed opportunity; it’s a generational misstep.

The strategy is drafted, the stakeholders are ready. All that’s missing is the political will to hit “publish” and get started.

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

– ref. Why Canada must seize the moment and launch its long-awaited Africa strategy – https://theconversation.com/why-canada-must-seize-the-moment-and-launch-its-long-awaited-africa-strategy-249255

MIL OSI – Global Reports –

February 10, 2025
MIL-OSI Global: Using smart technologies and artificial intelligence in food packaging can reduce food waste

Source: The Conversation – Canada – By Tohid Didar, Associate Professor and Canada Research Chair in Nano-biomaterials, Mechanical and Biomedical Engineering, McMaster University

More than 30 per cent of the world’s food is wasted each year. (Shutterstock)

Food insecurity is one of humanity’s most pressing challenges, impacting more than two billion people worldwide.

Paradoxically, as so many suffer from lack of access to food, more than 30 per cent of the world’s food is wasted each year, driven by inefficiencies in production, distribution and consumption.

Read more:
About one-third of the food Americans buy is wasted, hurting the climate and consumers’ wallets

Outdated, imprecise and often incorrect labelling systems — such as printed expiry dates — contribute to these huge problems, leading to the unnecessary disposal of safe, healthy food, increased greenhouse gas emissions and financial losses.

Addressing these crises requires bold investment in sustainable technologies that are already tested and available. These include smart food-packaging innovations that provide real-time food quality monitoring in every package. This would allow producers, retailers and consumers to receive up-to-date information through the package itself.

Real-time information

Unlike traditional expiration-date labels that communicate only time, food packaging innovations use advanced sensors and artificial intelligence to measure spoilage indicators such as pH balance, bacterial growth and biogenic amines. This allows for dynamic and up-to-the-minute tracking of food freshness.

These systems would increase food safety and prevent food fit for consumption from being thrown out. The early and highly specific warnings they provide would also reduce the need for costly and labour-intensive testing when problems occur.

Despite the promise of these scientifically proven systems, getting them into the marketplace is a significant challenge.

Corporations often resist smart packaging due to higher costs and tight profit margins in the highly competitive food sector.

Applying smart technologies in food packaging design can help consumers make more informed choices.
(Shutterstock)

Innovative solutions

However, the wider economic argument for smart packaging is compelling: food waste contributes to hundreds of billions of dollars in global annual losses, and smart solutions can reduce these losses substantially.

By quantifying the potential savings — such as reduced spoilage, fewer recalls, less food-related illness and lower legal liabilities — public and private stakeholders can understand why it’s valuable to share the cost of these innovations.

These technologies also align nicely with growing consumer demand for sustainability and transparency in food systems.

Reducing food waste through smart food packaging would lower greenhouse gas emissions, conserve agricultural resources and reduce the strain on global supply chains.

Such innovations can help improve food availability, especially in underserved regions where food insecurity is most acute, fostering healthier and more resilient communities.

Read more:
Food prices are not the only obstacle to achieving food security: Root causes include systemic barriers

Policymakers and industry leaders can create an appetite for change by regarding solutions as investments in people and the planet, not just profits.

Regulatory bodies must take bold steps, as we have seen in California’s elimination of “sell by” dates, which motivated producers to rethink their labeling strategies.

Governments can further incentivize smart food-packaging adoption through tax benefits, subsidies, or funding for companies to integrate real-time monitoring technologies. Such measures would make this beneficial change more economically viable for corporations.

Empowering consumers

Smart food packaging would also empower consumers to make informed decisions. Innovations such as AI-enabled apps that predict food freshness from smartphone photos can help households reduce waste by determining the safety of food without needing to open the package.

Smart packaging and apps could take the guesswork out of predicting food freshness.
(Shutterstock)

Smart packaging platforms should prioritize universal applications that work across food types, rather than niche, highly customized systems.

Investing in sustainable innovations to address food insecurity would also deliver broader economic and environmental benefits. Reduced food waste translates to lower greenhouse gas emissions, less strain on agricultural systems and significant savings across supply chains.

For developing nations disproportionately affected by food insecurity, smart packaging technologies can be transformative, extending shelf life and improving distribution efficiency.

Collaboration across industry, academia and government is vital to getting these solutions into broad use.

Profit and societal benefits

Researchers and innovators must work with corporations to develop proven prototypes into cost-effective, high-performance technologies, while policymakers need to create frameworks to incentivize adoption. Investments must prioritize not just economic returns but also long-term societal benefits.

As a researcher developing smart food packaging platforms, I have seen firsthand how interdisciplinary partnerships accelerate the translation of bold ideas into practical solutions. I have led research teams that have developed technologies such as Lab-in-a-Package and sprayable bacteriophage microgels. These innovations simultaneously improve food safety and reduce waste.

Addressing food insecurity demands a holistic, sustainable approach that brings together technological innovation, supportive policies and societal awareness. By investing in smart, scalable solutions, we can transform our food systems to ensure less food is wasted.

Tohid Didar receives funding from MITACs and NSERC to develop smart food packaging technologies.

– ref. Using smart technologies and artificial intelligence in food packaging can reduce food waste – https://theconversation.com/using-smart-technologies-and-artificial-intelligence-in-food-packaging-can-reduce-food-waste-248616

MIL OSI – Global Reports –

February 10, 2025
MIL-OSI New Zealand: BusinessNZ – New Zealand more attractive to foreign investment

Source: BusinessNZ

Changes to investor visa settings will make New Zealand more attractive as an investment destination, says BusinessNZ Chief Executive Katherine Rich.

We welcome the next move in the government’s foreign investment strategy to attract high net wealth individuals and their families. Investors bring international business networks, unique skills and expertise as well as capital to our country, says Mrs Rich.

A broader range of investment opportunities and internationally comparable settings will open the doors for investors that want to call New Zealand home. There is an opportunity for New Zealand businesses to leverage these networks for investment and international trade. We welcome these visa changes and look forward to continued efforts by the government to attract foreign investment and expertise.

The BusinessNZ Network including BusinessNZ, EMA, Business Central, Business Canterbury and Business South, represents and provides services to thousands of businesses, small and large, throughout New Zealand.

MIL OSI New Zealand News –

February 9, 2025
MIL-OSI Security: Convicted Felon Who Fired Weapon At New Orleans Police Officers Sentenced To 188 Months Imprisonment

Source: Office of United States Attorneys

NEW ORLEANS, LOUISIANA –DANTE FRAZIER (“FRAZIER”), age 45, was sentenced on February 6, 2025 by U.S. District Judge Eldon E. Fallon to 188 months in prison followed by 4 years of supervised release, along with a $200 mandatory special assessment fee, after previously pleading guilty to possession with the intent to distribute 50 grams or more of methamphetamine, and a quantity of cocaine, in violation of Title 21, United States Code, Sections 841(a)(1), 841(b)(1)(B), and 841(b)(1)(C); and being a felon in possession of a firearm, in violation of Title 18, United States Code, Sections 922(g)(1) and 924(a)(2).

According to court documents, New Orleans Police Department (NOPD) officers responded to an emergency call and found FRAZIER passed out in the driver’s seat of a vehicle. After becoming aware of NOPD’s presence, FRAZIER drove onto the Saint Claude Avenue neutral ground, struck a median, and then drove into a gas station parking lot before fleeing on foot. While fleeing, FRAZIER fired five shots from a Mossberg International Model 715P, .22 caliber handgun, at NOPD, before hiding beneath a nearby house. Soon after the pursuit, NOPD officers located FRAZIER, and his vehicle containing over 50 grams of methamphetamine and 14 grams of cocaine, that FRAZIER intended to distribute. Before this shooting incident, FRAZIER had been convicted of three counts of armed robbery and possession with intent to distribute marijuana.

This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results.

The case was investigated by the Federal Bureau of Investigation and the New Orleans Police Department. It is being prosecuted by Assistant United States Attorney David Berman of the Violent Crime Unit.

MIL Security OSI –

February 9, 2025

Category: Finance

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The decision on whether the SPA was an uncompleted agreement for the sale of land

Raksha Mantri to inaugurate Aero India 2025 at Yelahanka Air Force Station in Bengaluru on February 10, 2025Showcasing air power, cutting-edge innovations & potential new global collaborations, the five-day event to provide thrust to the goal of Viksit Bharat by 2047

Pariksha Pe CharchaEmpowering Students, Transforming Lives

Why do schools post photos online?

What are the rules in Australia?

1. What is the school asking you for?

2. What does the school post?

3. How does your child feel?

The right to repair

A path to economic resilience

Governments must step up

AfCFTA window is closing

Geopolitical stakes have never been higher

Aligning perfectly with Africa’s needs

From aid to equity

The G7 presidency provides opportunity

A call for cohesion

Real-time information

Innovative solutions

Empowering consumers

Profit and societal benefits

Source: BusinessNZ

Raksha Mantri to inaugurate Aero India 2025 at Yelahanka Air Force Station in Bengaluru on February 10, 2025

Showcasing air power, cutting-edge innovations & potential new global collaborations, the five-day event to provide thrust to the goal of Viksit Bharat by 2047

Pariksha Pe Charcha

Empowering Students, Transforming Lives