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Category: Finance

  • MIL-OSI: First commercial launch of biometric payment cards in Japan with LIFE CARD and IDEX Biometrics

    Source: GlobeNewswire (MIL-OSI)

    Oslo, Norway and Tokyo, Japan – 27 January 2025 – IDEX Biometrics enters a new market, together with LIFE CARD, Japan’s most innovative credit card issuer. This marks the market introduction of biometric payment cards in Japan. LIFE CARD is targeting commercial deployment in the first half of 2025.

    Japan is one of the largest payment markets in Asia, with a very advanced acceptance landscape which is ready for biometric smart cards. Credit cards have emerged to become the most popular alternative to cash in Japan, with 314 million cards issued. Accounting for more than 80% percent of cashless transactions, credit cards are used far more than any other digital payment instrument in Japan1.

    As a credit card issuer of Visa and Mastercard, LIFE CARD is commercializing premium, corporate and student card programs. Biometric payment cards will be a key differentiator and amplifier as LIFE CARD continues to lead innovation in the market.

    “LIFE CARD provides innovative, secure and frictionless payment solutions to our growing consumer base. Introducing the latest biometric technology and security to the Japanese market, will reinforce our market positioning, as we attract new customers and increase transactions and customer lifetime value” says Keiji Masui, President at LIFE CARD.

    “LIFE CARD and IDEX Biometrics are bringing more seamless and secure payments to consumers, confirming Japan’s technology and innovation leadership in payments. IDEX is committed to make card payments easier, more secure and accessible for Japanese consumers”, shared Catharina Eklof, Chief Executive Officer at IDEX Biometrics.

    1Source: Statista

    For further information contact:
    Marianne Bøe, Head of Investor Relations, + 47 91800186
    Kristian Flaten, CFO, +47 95092322
    E-mail:ir@idexbiometrics.com

    About IDEX Biometrics
    IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.

    For more information, please visit www.idexbiometrics.com

    About LIFE CARD Co., Ltd.
    Since its inception in 1952, LIFE CARD has been at the forefront of pioneering advancements in Japan’s credit system. Leveraging its rich legacy of expertise and industry insights, LIFE CARD is dedicated to providing unparalleled support and service toits partners as well as customers.
    As a proud member of the esteemed AIFUL Group, one of the largest non-bank financial institutions in the nation, LIFE CARD remains steadfast in its commitment to driving financial inclusivity and empowerment across diverse sectors.

    Through synergistic collaborations within the group, LIFE CARD endeavors to spearhead the development of multifaceted financial ecosystems, catering to the evolving needs of its partners and clientele.

    For more information, please visit www.lifecard.co.jp

    Trademark Statement
    IDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.

    About this notice:
    This notice discloses inside information pursuant to the EU Market Abuse Regulation and was issued by Marianne Bøe, Head of Investor Relations, on 27 January 2025 at 13:02 CET on behalf of IDEX Biometrics ASA. The notice is published in accordance with section 5-12 the Norwegian Securities Trading Act.

    The MIL Network –

  • MIL-OSI Asia-Pac: Immigration Department Review 2024 (with photos)

    Source: Hong Kong Government special administrative region

         The Director of Immigration, Mr Kwok Joon-fung, held a press conference today (January 27) to review the work of the Immigration Department (ImmD) over the past year and look ahead to the future. The following is a summary of the department’s major activities in 2024 and its outlook:      Staying committed to its mission and safeguarding national security      The Safeguarding National Security Ordinance took effect upon gazettal in 2024. Together with the Hong Kong National Security Law, a comprehensive legal system and enforcement mechanism for safeguarding national security have been established in the Hong Kong Special Administrative Region (HKSAR). With a crucial role to play in safeguarding national security, the department has been guarding the country’s southern gateway rigorously with patriotism, and acts in accordance with all applicable laws and prevailing immigration policies to protect Hong Kong’s national sovereignty, security and development interests. Staying principled and innovative, the Government actively seeks reforms so that Hong Kong can advance from stability to prosperity and better integrate into the national development. It also strives to consolidate and enhance Hong Kong’s status as an international financial, shipping and trade centre. The ImmD continues to render full support to the HKSAR Government in its policy directions and measures, with a view to contributing to the prosperity and stability of Hong Kong.      Enhancing efficiency and facilitating connections and integration (A) Passenger traffic at control points      In 2024, a total of around 298 million passengers passed through Hong Kong’s control points, representing an increase of about 41 per cent over 2023 and a return to the 300 million level in 2019. The total number of visitor arrivals was around 44.5 million, representing an increase of about 31 per cent as compared with that of 2023, of which Mainland visitor arrivals were around 34.04 million, representing an increase of about 27 per cent when compared with that of 2023. Meanwhile, the number of arrivals of other visitors in 2024 was around 10.46 million, representing an increase of about 44 per cent over 2023. Among the visitor arrivals in 2024, around 9.86 million visitors travelled through the Airport Control Point, while around 32.81 million visitors and around 1.84 million visitors passed through land control points and sea control points respectively. (B) Enabling people movement (1) Enhancing handling capacity of control points      The ImmD has been taking various measures, including flexible deployment of manpower, optimisation of workflow and effective use of information technology, etc, to continuously enhance the handling capacity and efficiency of control points. Among them, the Heung Yuen Wai Boundary Control Point has seen a continuous increase in users since its passenger clearance services commenced operation in February 2023. To further enhance the clearance capacity, the ImmD set up 10 additional mobile counters in the arrival hall of the Heung Yuen Wai Boundary Control Point and completed the enhancement works in early June 2024 to replace some of the conventional counters with e-Channels, thereby increasing the number of e-Channels in the arrival hall from the existing 14 to 18. Furthermore, to enhance the handling capacity and efficiency of the Express Rail Link West Kowloon Control Point, in addition to the existing 22 e-Channels, 19 extra e-Channels were installed in phases in the arrival hall, which were then put into service progressively starting from June 26, 2024. (2) Extension of e-Channel service            The ImmD launched the Contactless e-Channel service in 2021 to allow registered Hong Kong residents to undergo self-service immigration clearance using an encrypted QR code generated by the “Contactless e-Channel” mobile application and facial recognition technology. As at the end of 2024, around 5 million Hong Kong residents had registered for the service and the number of passengers who used the service reached around 150 million, accounting for nearly 75 per cent of the daily number of Hong Kong residents using the e-Channels. On July 19, 2024, the ImmD launched the Mutual Use of QR Code between HKSAR and Macao SAR Clearance Service in collaboration with the relevant authorities of Macao. Eligible Hong Kong residents who have registered for using the Macao Automated Passenger Clearance Service may use the encrypted QR code generated by the “Contactless e-Channel” mobile application for self-service immigration clearance in Macao. Similarily, eligible Macao permanent residents may also use the encrypted QR code generated by the “Macao One Account” mobile application for self-service immigration clearance through the e-Channels in Hong Kong. As at the end of 2024, the numbers of Hong Kong residents and Macao residents who used the service were around 400 000 and 210 000 respectively. (3) Cancelling the requirement for visitors to furnish arrival or departure cards      To further streamline immigration procedures, the ImmD has cancelled the requirement for visitors to furnish an arrival or departure card with effect from October 16, 2024. All passengers are no longer required to complete and furnish an arrival or departure card, thereby facilitating a faster and more convenient immigration clearance process.      Attracting talent by building Hong Kong into an international hub for talent      In support of the Government’s initiatives to attract and retain talent, as well as building Hong Kong into an international hub for talent, the ImmD continued to implement the various enhanced talent admission schemes and deployed additional manpower and streamlined the system to speed up the processing of relevant applications. Meanwhile, technology was also utilised to enhance electronic services, making the submission of visa applications more convenient and efficient. (For details of the numbers of applications for visas/entry permits/extensions of stay received and approved under various admission schemes/policies, please refer to the Annex.) (A) Enhancing talent admission schemes (1) Enhancing the assessment criteria and arrangements for the General Points Test under the Quality Migrant Admission Scheme      With effect from November 1, 2024, the General Points Test (GPT) under the Quality Migrant Admission Scheme (QMAS) has been enhanced by adopting clearer and more objective scoring criteria, as well as streamlining the application and selection process. The enhanced GPT replaced the original item-by-item scoring system with an assessment questionnaire comprising 12 assessment criteria across six major aspects, namely age, academic qualifications, language proficiency, work experience, income and business ownership. Applicants may submit applications if they meet a minimum of six assessment criteria. The ImmD will pass the eligible applications to an assessment panel chaired by the Secretary for Labour and Welfare. The assessment panel will then provide advice to the Director of Immigration according to the selection results. There is no annual quota under the enhanced GPT. (2) Expanding the list of eligible universities under the Top Talent Pass Scheme and extending the validity period of the first visa for Category A applications      To further expand the network for attracting talent, starting from November 1, 2024, 13 top Mainland and overseas universities/institutions have been added to the list of eligible universities under the Top Talent Pass Scheme (TTPS). The aggregate list currently covers a total of 199 eligible institutions after the annual update. In addition, with effect from October 16, 2024, the validity period of the first visa of applicants approved under Category A of the TTPS has also been extended from two years to three years to facilitate their advance planning for relocation to Hong Kong with their families. The new measure also applies to Category A applicants whose applications were approved before the aforementioned date. (3) Extending the immigration arrangements for graduates from the Greater Bay Area campuses of Hong Kong universities      In late 2022, the Immigration Arrangements for Non-local Graduates was expanded to include graduates from the Greater Bay Area (GBA) campuses of Hong Kong universities on a pilot basis for two years. The HKSAR Government announced in October 2024 that the arrangements would be extended for two years to the end of 2026. (B) Temporarily exempting full-time non-local undergraduate students from restrictions on taking up part-time jobs      Starting from November 1, 2024, full-time non-local undergraduate students have been temporarily exempted from the restrictions on taking up part-time jobs to enhance their personal experience of working in Hong Kong, thereby increasing their incentive to stay in Hong Kong for development after graduation. Eligible full-time non-local undergraduate students are allowed to take up part-time employment within the duration of their studies, with no restrictions on the number of working hours and location. (C) Implementation of New Capital Investment Entrant Scheme      The New Capital Investment Entrant Scheme was launched on March 1, 2024, with the aim to further enrich the talent pool and attract more new capital to Hong Kong. An eligible applicant must invest a minimum of HK$30 million in the permissible investment assets. Invest Hong Kong is responsible for assessing whether the applications fulfil the financial requirements, and the ImmD is responsible for assessing the applications for visa and entry permits and extensions of stay, etc. (D) Relaxation of visa arrangements for nationals of Cambodia, Laos, Myanmar and Vietnam      To foster closer ties with countries of the Association of Southeast Asian Nations (ASEAN), following the relaxation of criteria for Vietnamese nationals applying for multiple-entry visas for travel or business in 2023, the relaxation measure has been extended to include nationals of Cambodia, Laos and Myanmar starting from October 16, 2024. Meanwhile, the validity period of multiple-entry visas for nationals of these four ASEAN countries has also been extended from two years to three years. The ImmD has put in place a fast-track arrangement for group visitors from ASEAN countries who submit their visa applications via local travel agents, so that the processing time of the visa applications can be significantly shortened.      Be people-oriented and improve their livelihood in pursuit of happiness (A) Commissioning of the new Immigration Headquarters      Located at the Tseung Kwan O town centre, the new Immigration Headquarters officially commenced operation on June 11, 2024, marking a new milestone in the development of the department. Not only is the new headquarters equipped with better facilities and infrastructure, it also houses the Tseung Kwan O Marriage Registry and Tseung Kwan O Births Registry, delivering quality public services to citizens. The marriage hall of the Tseung Kwan O Marriage Registry features an innovative design with special wall panels, a lighting system that can be set to different colours, as well as various photo-taking spots. Since its opening on June 26, the hall has been popular among the public. As at the end of 2024, more than 1 300 weddings were held there. (B) New submission and collection kiosks for personal documentation      The Registration of Persons (Amendment) Regulation 2024 came into effect on December 13, 2024. On the same day, the ImmD introduced self-application services for identity cards (ICs), expanding the service scope of the Personal Documentation Submission Kiosks to cover IC applications, in addition to HKSAR passport applications. The new services cover three types of replacement applications of IC holders who are aged 18 or above holding a locally issued smart IC, i.e. (i) replacement for an adult IC for persons reaching the age of 18; (ii) replacement for a permanent IC for persons having their eligibility for a permanent IC verified; and (iii) replacement for a new smart identity card for persons holding a valid old form of smart identity IC. Eligible applicants may apply for an IC replacement in a self-service manner and submit their HKSAR passport applications in one go. For collection of documents, members of the public may also collect their ICs and HKSAR passports in a self-service manner through the Personal Documentation Collection Kiosks. A total of 54 new personal documentation kiosks are provided in the new headquarters. The service hours of some of the kiosks have been further extended until 10pm to enable eligible applicants’ access to the services beyond office hours. In addition, starting from December 13, 2024, the processing time for new smart ICs has been shortened from the current seven working days to five working days. Members of the public may collect their new ICs on the next working day upon completion of application processing by the ImmD. (C) Conclusion of Territory-wide Identity Card Replacement Exercise      Following the conclusion of the Territory-wide Identity Card Replacement Exercise on March 3, 2023, the Smart Identity Card Replacement Centres ceased operation. Residents who have yet to replace their smart identity cards can visit the four designated Registration of Persons (ROP) Offices during the extended service hours or the ROP – Kwun Tong (Temporary) Office for identity card replacement. As at the end of 2024, a total of some 7.32 million identity card holders had replaced their smart identity cards, representing a replacement rate of about 91 per cent. The Secretary for Security has made the Registration of Persons (Invalidation of Identity Cards) Order 2024 under section 7C of the Registration of Persons Ordinance (Cap. 177), declaring that the old form of smart identity cards issued before November 26, 2018, will be invalidated in two phases in 2025. Moreover, the On-site Identity Card Replacement Service (On-site Service), which had been temporarily suspended for over two years due to the pandemic, resumed in November 2022 to provide on-site identity card replacement service to eligible residents of residential care homes (RCHs). As at the end of 2024, the outreach teams had visited around 1 100 RCHs to complete the replacement procedures for over 45 200 residents. It is anticipated that the On-site Service will conclude in the first quarter of 2025. (D) Granting of visa-free access for HKSAR passport holders      In 2024, the ImmD issued a total of more than 900 000 HKSAR passports. Since July 2024, the period of visa-free entry for HKSAR passport holders to Thailand has been extended from up to 30 days to 60 days. As at the end of 2024, 171 countries or territories had granted visa-free access or visa-on-arrival for HKSAR passport holders. The ImmD will continue to lobby more countries or territories to grant visa-free access or visa-on-arrival for HKSAR passport holders to provide travel convenience. (E) Services and support for Hong Kong residents in distress outside Hong Kong (1) Assistance to Hong Kong residents in distress outside Hong Kong      The ImmD’s Assistance to Hong Kong Residents Unit (AHU) has been making every effort to provide practical assistance to Hong Kong residents in distress outside Hong Kong. The AHU maintains close ties with the Office of the Commissioner of the Ministry of Foreign Affairs in the HKSAR (OCMFA), Chinese diplomatic and consular missions overseas and other relevant HKSAR government departments to provide all practicable help and support to assistance seekers. To step up its services and support for Hong Kong residents in distress outside Hong Kong, the ImmD introduced the 1868 WeChat assistance hotline and 1868 Chatbot on March 18, 2024. Along with the existing options, Hong Kong residents may contact the AHU through a total of six different channels for assistance. In 2024, the AHU handled 3 302 requests for assistance in total, most of which involved loss of travel documents, hospitalisation, casualties, etc outside Hong Kong. Among the requests received, there were cases of Hong Kong residents suspected of having been lured to Southeast Asian countries and detained to engage in illegal work. The ImmD has provided appropriate advice and practicable assistance to the persons concerned or their families according to their wishes. In the light of the situation in Lebanon and Israel, the ImmD has also maintained close contact with the OCMFA and relevant Chinese Embassies to follow up as appropriate. With the assistance of the Embassy, three Hong Kong residents were safely evacuated from Lebanon by vessel and flight under the national arrangements. (2) Publicity on consular protection and outbound travel safety     In June 2024, the ImmD and the OCMFA co-organised the Consular Protection Month to widely disseminate information on consular protection and outbound travel safety through a series of activities, including holding the launching ceremony of the Consular Protection Month at Hong Kong International Airport (HKIA), organising roving exhibitions on consular protection across the territory, setting up booths at the International Travel Expo and conducting joint seminars with the OCMFA. Meanwhile, the “Consular Protection and Outbound Travel Safety” online exhibition was launched to enable members of the public to learn more about consular protection and outbound travel safety through various activities. (F) Mainland Travel Permits for Hong Kong and Macao Residents (Non-Chinese Citizens)      The Exit and Entry Administration of the People’s Republic of China started to issue Mainland Travel Permits for Hong Kong and Macao Residents (Non-Chinese Citizens) (Permits) from July 10, 2024, onwards. To apply for the Permit, applicants are required to apply for a Notice of Application for Access to Information (Notice) from the ImmD. The Notice will normally be made available within 10 days upon receipt of the request. As at the end of 2024, a total of about 87 000 applications in relation to the Notice had been received, among which 99 per cent had been processed.      Stringent law enforcement and securing social stability (A) Law enforcement           The ImmD is dedicated to combating immigration-related crimes. Its Cybercrime and Forensics Investigation Group has been actively conducting targeted cyber patrols and taking enforcement actions against those who organise, arrange or incite the public to commit serious crimes such as employing illegal workers through social media or instant messaging software, with a view to tackling illegal employment and protecting the job opportunities of local workers. (1) Combating illegal employment      In 2024, the ImmD conducted a total of 17 906 operations against illegal employment and arrested 4 172 illegal workers and 513 local employers altogether. In particular, a total of 444 non-ethnic Chinese illegal workers and 146 local employers who employed them were arrested during the enforcement operations against non-ethnic Chinese illegal workers. Employing illegal workers is a serious offence. A dishwashing service company licensee was convicted for employing illegal workers and sentenced to 19 months’ imprisonment in February 2024. In July and August 2024, under the co-ordination of the Exit and Entry Administration of the People’s Republic of China, the ImmD mounted a cross-boundary joint operation with the Exit and Entry Administration Offices of the public security authorities of Guangxi and Guangdong and the Shenzhen Frontier Inspection Station, cracking down on a cross-boundary forgery syndicate that specialised in soliciting Mainlanders to take up illegal employment in Hong Kong, resulting in the arrest of a total of 201 persons and the seizure of a large quantity of forgery equipment and forged documents. In regards to the Hong Kong side, the ImmD mounted an operation codenamed “Vanguard” and arrested a total of 97 persons, including a syndicate mastermind and serveral core members, as well as a number of suspected illegal workers and employers suspected of employing them. (2) Strengthening counter-terrorism preparedness, combating illegal transnational migration and document fraud      Officers of the ImmD intercepted suspicious persons at immigration control points in light of terrorist threat assessments and actual circumstances, and kept visitors in suspected association with terrorist activities under surveillance to prevent such persons from attempting to enter Hong Kong. In 2024, the ImmD conducted a total of 13 664 related inspection operations at various immigration control points, and intercepted 32 551 passengers in total for enquiries. To enhance its preparedness and response capability for emergencies and terrorist attacks, the ImmD participated in a large-scale interdepartmental counter-terrorism exercise codenamed “Wisdomlight” at the Kai Tak Sports Park in December 2024. During the exercise, the ImmD showcased its recently commissioned mobile identification tactical unit, while the Emergency Response Team of the Castle Peak Bay Immigration Centre (CIC) demonstrated how to quell a disturbance. Moreover, the ImmD has been working with different law enforcement agencies to combat illegal transnational migration, with the focus on investigation into document fraud, in order to prevent anyone from entering Hong Kong or travelling to other countries or territories via Hong Kong with forged travel documents. The ImmD’s Anti-Illegal Migration Agency conducted a total of 30 438 operations against forgery activities, including joint operations with overseas and local law enforcement agencies against illegal transnational migration. A total of 23 693 passengers were intercepted for enquiries. (B) Handling non-refoulement claims (1) Combating illegal entry of non-ethnic Chinese      The ImmD has commenced dedicated operations with Mainland and local law enforcement agencies since 2016 in order to take sustained enforcement action against illegal immigration activities of non-ethnic Chinese. While a sharp increase in the number of non-ethnic Chinese illegal immigrants intercepted in the second half of 2023 was once noted, the situation has improved significantly following the strengthened enforcement actions through concerted efforts of enforcement agencies. The number of interceptions plummeted by 84 per cent from the peak of 364 in October 2023 to a monthly average of 57 in 2024. The ImmD will continue to step up intelligence exchanges with enforcement agencies on the Mainland and in Macao to further combat illegal immigration precisely. (2) Advance Passenger Information System      To meet the aviation security requirements of the Convention on International Civil Aviation and to align Hong Kong with other aviation hubs worldwide, as well as to enable the ImmD to further enhance its clearance and enforcement capabilities to prevent undesirables, including potential non-refoulement claimants, from boarding flights heading to Hong Kong, the ImmD implemented the Advance Passenger Information (API) System on September 3, 2024, requiring airlines to transmit advance information to the ImmD about flights and passengers heading to Hong Kong through the API System when checking in travellers, and act upon the direction given through the system to allow or not allow specific travellers to board the aircraft heading to Hong Kong. To allow sufficient time for over 100 airlines to connect to the API System and to ensure that the system will run in a smooth and orderly manner, the rollout will be carried out in phases. A transitional period of around 12 months will also be provided. The offences and defences, and the miscellaneous provisions relating to the API System under Cap. 115Q, Laws of Hong Kong will come into effect after the transitional period, namely starting from September 1, 2025. (3) Stepping up the screening process      The ImmD continued to speed up the screening of non-refoulement claims with flexible staff deployment and optimised workflow. In 2024, the ImmD determined over 2 700 non-refoulement claims. As at the end of last year, there were about 850 claims pending screening by the ImmD. Under the unified screening mechanism, over 95 per cent of the claimants rejected by the ImmD lodged appeals against the decisions. As at the end of 2024, there were about 750 claimants who had lodged appeals pending decision by the Torture Claims Appeal Board/Non-refoulement Claims Petition Office. (4) Better management of detainees      To enhance security and management efficiency, the CIC is pressing ahead with a number of enhancement projects, including overhauling the CCTV surveillance system; launching an RFID (radio frequency Identification) Equipment Management System; and installing a Contactless Vital Sign Monitoring System to remotely monitor the vital signs of detainees. The CIC has also deployed small unmanned aircraft to carry out patrol duties from time to time to eliminate potential security threats. In addition to the CIC, the HKSAR Government included the Tai Tam Gap Correctional Institution and the Nei Kwu Correctional Institution (NKCI) as places of detention of the ImmD in 2021 and 2023 respectively, thereby increasing the number of detention places for detaining non-refoulement claimants to three. When the in-situ expansion of the NKCI is completed in 2025, the overall detention capacity of the three detention places will increase to 940. (5) Enhancing efficiency of removing unsubstantiated claimants      The ImmD has been committed to promptly removing unsubstantiated non-refoulement claimants from Hong Kong. In 2024, the ImmD removed 2 219 unsubstantiated claimants from Hong Kong, representing a rise of 24 per cent when compared with that in 2023. Under the updated removal policy effective from December 7, 2022, the ImmD may generally proceed with the removal of an unsubstantiated claimant whose judicial review case has been dismissed by the Court of First Instance of the High Court, thereby enhancing the efficiency of and efforts in removing unsubstantiated claimants. Since the implementation of the policy till the end of 2024, the ImmD removed a total of 4 070 unsubstantiated claimants from Hong Kong, including 314 claimants who were removed under the updated removal policy.      Nurturing young people and strengthening patriotic teams (A) Hong Kong will prosper when its young people thrive (1) Immigration Department Youth Leaders Corps      The ImmD formed the Immigration Department Youth Leaders Corps (IDYL) to provide systematic and regular disciplinary and leadership training for members by sending dedicated training officers to secondary schools with the aim of nurturing them to become pillars of society who love the country and Hong Kong. There is also a post-secondary student team, IDYL Plus, members of which have already been admitted to post-secondary institutes. They will be the experienced leaders to pass the values of the IDYL and their personal experiences to younger members. To celebrate the 75th anniversary of the founding of the People’s Republic of China, the IDYL organised a Shanghai summer exchange tour in July for 75 members to learn about the history of the motherland and have an in-depth exchange of ideas with local young people. As at the end of 2024, a total of over 950 students participated in the IDYL. (2) Immigration Department Youth Ambassador Programme      The ImmD launched the Immigration Department Youth Ambassador Programme in November 2023 and used the Immigration Divisions of the Mainland Offices of the HKSAR Government (Mainland Offices) as bases to recruit young people from Hong Kong who are studying and living in various provinces on the Mainland as Youth Ambassadors. Since the launch of the Programme, the ImmD has appointed 32 Youth Ambassadors in Beijing, Guangzhou, Shanghai and Wuhan. The appointed Youth Ambassadors will have diverse learning opportunities provided by the ImmD during the one-year term and collaborate with the Mainland Offices in disseminating the latest information and in briefing the public on the business scope of the department. The ImmD expects that the Programme will broaden the Youth Ambassadors’ horizons and lay solid groundwork for their different future positions in society. (B) Staff training and continuous development (1) Recruitment of service members      The ImmD launched a new round of in-service appointments and open recruitment of Immigration Officers in May 2024, while the open recruitment of Immigration Assistants continued to be all year round. During the recruitment exercises in 2024, the department recruited about 100 Immigration Officers and 210 Immigration Assistants. (2) National studies     In 2024, a total of 366 members of the Immigration Service were arranged to attend training courses in various Mainland institutes, including the National Academy of Governance, the First Standing Force of the Exit and Entry Administration of the People’s Republic of China, the China Foreign Affairs University, and the China People’s Police University. Moreover, in order to reinforce the concept of national security among newly recruited Immigration Officers, deepen their understanding of the history and development of the motherland as well as enhance their knowledge of the country’s immigration regime, with the staunch support of the Ministry of Public Security and the China People’s Police University, the ImmD has arranged 200 Immigration Officer trainees to participate in the National Affairs and Immigration Control Training Course for Immigration Officer Trainees at the China People’s Police University (Guangzhou) since October 2023. The ImmD will actively co-ordinate with relevant Mainland authorities so that newly recruited Immigration Assistants can also receive training in the Mainland.      Vision for 2025      Utilising technologies to enhance service standards (A) New milestone of e-Channel service      Since the launch of the first e-Channel at the Lo Wu Control Point in December 2004, the total number of users of e-Channels has exceeded 2 billion. Over the past two decades, the ImmD has been striving for innovation in enhancing the clearance efficiency of e-Channels and expanding the service target group in order to provide immigration services of the highest quality to members of the public and visitors. To further enhance service quality, the ImmD has set two key directions for the future development of e-Channels, namely “simplicity” and “efficiency”. While ensuring information security, the ImmD will introduce more innovative technologies for e-Channel users to perform immigration clearance in a more convenient and faster manner. (1) Extension of applicable age of e-Channel service      At present, Hong Kong permanent residents aged 11 or above holding a smart identity card can use e-Channels for self-service immigration clearance. To enhance clearance efficiency, the ImmD will adjust the applicable age of the e-Channel service for Hong Kong permanent residents from the first quarter of 2025 onwards so that children aged 7 or above holding a valid HKSAR passport and a Hong Kong permanent identity card can undergo self-service immigration clearance with a smart identity card using facial recognition technology at e-Channels. The implementation date will be announced later. (2) Introduction of new e-Channel      The ImmD plans to introduce the new e-Channel at the Arrival Hall of HKIA in the third quarter of 2025, which will enable eligible Hong Kong residents to experience hassle-free self-service immigration clearance through verification of identity by facial recognition technology at the new e-Channel upon arrival without prior enrolment or presenting travel documents or QR codes. (3) Innovative proposal for the application of technologies in handling immigration clearance for private cars      The ImmD and the Hong Kong Applied Science and Technology Research Institute (ASTRI) signed a Memorandum of Understanding in April 2024 to explore an innovative proposal for the application of technologies in four areas, i.e. Innovative Immigration Control Operation, Biometric Identification and Authentication, Artificial Intelligence Assisted Immigration Application and Collaborative Robotics Technology. Currently, the ImmD is making substantial efforts in a collaborative project relating to the Innovative Immigration Control Operation with ASTRI, actively researching whether a technology solution underpinned by facial recognition technology can be used to handle immigration clearance of private car passengers, with a view to further enhancing passenger clearance experience. (B) Upgrading infrastructure of boundary control points (1) Redevelopment of Huanggang Port      To tie in with the Guangdong-Hong Kong-Macao Greater Bay Area development blueprint and enable smooth and efficient people and cargo flows within the area, the HKSAR Government has been forging ahead with a series of measures to further enhance the capacity of control points and the clearance efficiency, with the redevelopment of the Huanggang Port as one of the key projects. The new Huanggang Port will implement the “co-location arrangement” and adopt a new clearance mode of “collaborative inspection and joint clearance”, making it the first boundary control point between Guangdong Province and the HKSAR adopting such a clearance mode. Currently, Hong Kong and Shenzhen are taking forward the construction works of the new Huanggang Port building and specific immigration clearance arrangements. The target is to strive for basic completion of the new Huanggang Port building by the end of 2025. The ImmD will continue to maintain close liaison with the authorities of both Hong Kong and the Mainland, and proactively implement all relevant preparatory work. (2) Airport Terminal 2      With the full commissioning of the Three-Runway System (3RS) of HKIA in 2024, the capacity of HKIA will be substantially enhanced. Terminal 2 (T2) under the 3RS project is undergoing expansion. Upon completion, it will provide full-fledged terminal services with additional immigration facilities, which include a total of 137 immigration clearance counters and 60 e-Channels. T2 will be opened in phases based on passenger traffic demand. The ImmD will maintain close ties with the Airport Authority Hong Kong and other relevant HKSAR government departments to ensure the smooth commissioning and running of T2. (C) Providing immigration facilitation to the 15th National Games      The ImmD fully supports the 15th National Games, and the 12th National Games for Persons with Disabilities and the 9th National Special Olympic Games to be held in 2025, whereby special immigration lanes will be provided in the closed areas of designated control points on Hong Kong side to provide faster and more convenient clearance services for athletes from the Mainland and Macao and their accompanying staff. (D) Commencement of study of Fourth Information Systems Strategy (ISS-4)      To further work in tandem with the HKSAR Government’s smart city initiative and proactively seize the opportunities of innovative technology and artificial intelligence technology, the ImmD has appointed a consultant in August 2024 to conduct a new round of reviews on information systems and formulate the ISS-4 as the department’s long-term information technology development blueprint. The research for the ISS-4 is expected to be completed in the second quarter of 2025. (E) Enhancing various measures for attracting talent      The ImmD will continue to fully support the HKSAR Government’s measures for attracting and retaining talent. A new channel will be introduced under the General Employment Policy and the Admission Scheme for Mainland Talents and Professionals in 2025 to allow young and experienced non-degree talent with relevant professional and technical qualifications to apply for entry into Hong Kong to join the skilled trades facing acute manpower shortage. There will be a quota under such an arrangement. Moreover, a new mechanism will be introduced under the QMAS in 2025 to proactively invite top-notch and leading talent to come to Hong Kong for development, promoting Hong Kong as the focal point of international high-calibre talent.

    MIL OSI Asia Pacific News –

  • MIL-OSI Security: Criminals operating an illegal financial service to launder millions of euros busted

    Source: Eurojust

    Investigations into the group began in 2023 when border police in Spain noticed suspicious trips from their airports transporting large sums of money. The trips to Cyprus by members of the criminal group were used to deliver criminal profits, which were then laundered. Authorities stopped the criminals from travelling and seized more than EUR 1.8 million.

    The authorities discovered that the group was running a sophisticated money laundering service for other criminal organisations. The group acted as a financial service to transfer criminal profits internationally. Cryptocurrencies were used to move cash profits between criminal organisations. To dispose of the cash profits, money was transported on commercial flights, mainly to Cyprus, and by public transport to neighbouring countries of Spain. The group was able to carry out four to six money laundering transactions per week. 

    Running this financial service required a professionally structured organisation consisting of at least 52 members, operating mostly from Spain and Cyprus. The group worked with contacts outside of their organisation to liaise with clients and receive the cash to be laundered. Their contacts are linked to several commercial companies around the world. 

    As the financial service was used throughout Europe, authorities had to work together to stop the criminal group. An international investigation was launched by setting up a joint investigation team (JIT) at Eurojust between Spanish, Cypriot and German authorities, Eurojust and Europol. Through the JIT, information from tax and judicial authorities was exchanged that led to the takedown of the criminal group. Europol supported this international operation with experts specialised in financial crime, fighting high-risk criminal networks, unravelling money laundering structures, and tracing cryptocurrency flows.

    A series of actions were carried out to stop the financial service. In October 2024, actions were carried out in Spain, France and Cyprus to dismantle the criminal group. This was followed by actions in November 2024 that targeted actors working with the criminal group. A total of 91 searches were carried out, 77 in Spain, 1 in France and 13 in Cyprus. Twenty suspects were arrested in Spain, one in France and two in Slovenia. Authorities seized a total of EUR 8 million in cash, 2 million in bank accounts and froze EUR 27 million in cryptocurrency. Investigations into the group and its financial service continue.

    The following authorities were involved in the actions:

    • Spain: Investigating Judge no 2 of El Prat de Llobregat; Public Prosecution Office of Barcelona; Guardia Civil Special Central Unit 3, Destabilizing Threat Group-UCO
    • Cyprus: Attorney General’s Office; MOKAS (Unit for Combating Money Laundering); Criminal Investigation Department (CID) (in collaboration with other police departments)
    • Germany: Public Prosecutor’s Office, Landshut; Customs Investigation Office, München
    • France: Judicial Court of Marseille, Interregional Specialised Jurisdiction against organised crime (JIRS) ; National Anti-Fraud Office (ONAF), Marseille/Nice. 

    MIL Security OSI –

  • MIL-OSI: Range Announces Conference Call to Discuss Fourth Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    FORT WORTH, Texas, Jan. 27, 2025 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that its fourth quarter 2024 financial results news release will be issued Tuesday, February 25 after the close of trading on the New York Stock Exchange.

    A conference call to review the financial results is scheduled on Wednesday, February 26 at 9:00 a.m. ET (8:00 a.m. CT). A webcast of the call may be accessed at www.rangeresources.com. The webcast will be archived for replay on the Company’s website until March 26, 2025.

    RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.

    SOURCE: Range Resources Corporation

    Range Investor Contacts:

    Laith Sando, Vice President – Investor Relations
    817-869-4267
    lsando@rangeresources.com

    The MIL Network –

  • MIL-OSI Economics: Supersession of the Board of Directors and Appointment of Administrator – Aviom India Housing Finance Private Limited

    Source: Reserve Bank of India

    In exercise of the powers conferred under Section 45-IE(1) of the Reserve Bank of India Act, 1934, and as per recommendation of National Housing Bank (NHB), the Reserve Bank has today superseded the board of directors of Aviom India Housing Finance Private Limited (the company) owing to governance concerns and defaults in meeting various payment obligations, and appointed Shri Ram Kumar, ex-CGM of Punjab National Bank, as the Administrator under Section 45-IE(2) of the Reserve Bank of India Act, 1934. The Reserve Bank intends to shortly initiate the process of resolution of the company under the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019, and would also apply to the NCLT, New Delhi, for appointing the Administrator as the Insolvency Resolution Professional.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2011

    MIL OSI Economics –

  • MIL-OSI: Barnwell Industries, Inc. Adopts Limited-Duration Shareholder Rights Plan

    Source: GlobeNewswire (MIL-OSI)

    HONOLULU, Jan. 27, 2025 (GLOBE NEWSWIRE) — Barnwell Industries, Inc. (NYSE American: BRN) (“Barnwell” or the “Company”) today announced that the Board of Directors (the “Board”) of Barnwell has adopted a limited-duration shareholder rights plan (“Rights Plan”) designed to protect the interests of the Company and all of its shareholders. The Rights Plan is also intended to provide the Board sufficient time to make informed judgments and take actions that are in the best interests of Barnwell and all of its shareholders.

    The Rights Plan was adopted in response to the significant ownership position of Ned Sherwood and his affiliates (the “Sherwood Group”), which, based on public records, is approximately 30.00% of Barnwell’s outstanding common stock, and the refusal of the Sherwood Group to extend the Cooperation and Support Agreement, entered into by Alexander Kinzler, the former CEO of the Company, and Secretary and General Counsel of the Company, and the Sherwood Group, following its pending expiration.

    A special committee of the Board of Directors (“Special Committee”), consisting of Kenneth Grossman and Joshua Horowitz, was established by the Board on November 7, 2024, to review, consider and make recommendations to the Board with respect to certain corporate governance matters.

    The Special Committee recommended to the Board that the Rights Plan be adopted to protect all shareholders of the Company from any entity, person or group achieving control over the Company through a “creeping” acquisition or otherwise. Such “creeping” control would, in the Special Committee’s view, among other things, not be in the best interest of the shareholders of the Company.

    The Board believed it was prudent to adopt the Rights Plan after concerted efforts by the Special Committee to engage with the Sherwood Group were rebuffed. Notwithstanding the statements made by Ned Sherwood to members of the Board and management of the Company that he will obtain control of the Company in the new year and will bring fresh ideas and perspectives to address the Company’s operations, the Sherwood Group has not offered any ideas regarding the Company’s businesses, made any recommendations to improve shareholder value or provided any new investment opportunities or alternative investment strategies, despite repeated requests to do so.

    The Rights Plan is designed to enable Barnwell’s shareholders to realize the long-term value of their investment, provide an opportunity for shareholders to receive fair and equal treatment in the event of any proposed takeover of Barnwell and guard against tactics to gain control of Barnwell without paying shareholders an appropriate premium for that control. The Rights Plan is not intended to deter good faith offers to purchase its shares or preclude the Board or the Special Committee from taking action that it believes is in the best interest of the Company and its shareholders.

    The Special Committee recognizes that the Sherwood Group has a large share position and welcomes engagement with them, and any other shareholder, that is consistent with the Company’s status as a 70-year-old oil & gas exploration and development company. If the Sherwood Group were to gain control, and based upon interaction with the Sherwood Group Board designees, the Special Committee believes it is highly likely that the Sherwood Group would seek to modify the Company’s core business and strategy, including but not limited to exiting the Company’s oil & gas businesses at discounts to their value in order to seek undefined and vague “opportunities”.

    With the new Rights Plan, the Board seeks to deter the Sherwood Group from its efforts to take “creeping” control of the Company by purchasing more shares. The Special Committee remains willing to engage with the Sherwood Group and other shareholders to develop constructive ideas for the future of the Company. However, at this point the Special Committee can only conclude that the Sherwood Group intends to pursue its goals by running its board slate for election at the next annual meeting, without informing stakeholders what it intends to do if it achieves full control of the Board. The Company has been clear with shareholders about its commitment to maintaining the business in which shareholders invested and has honored that commitment.

    The Rights Plan is similar to other common stock rights plans adopted by other publicly held companies. Under the Rights Plan, Barnwell will issue one right for each Barnwell common share outstanding as of the close of business on February 7, 2025. All shareholders will receive one right for each share owned. The rights will initially trade with Barnwell’s common stock and will become exercisable only if a person acquires 20% or more of Barnwell’s outstanding common stock. Any shareholders with beneficial ownership of 20% or more of Barnwell’s outstanding common stock (including the Sherwood Group) prior to this announcement are grandfathered at their beneficial ownership levels at the date the Rights Plan was adopted but are not permitted to acquire additional common stock representing 0.25% or more of the outstanding common stock, subject to limited exceptions, without triggering the Rights Plan. The Rights Plan is effective immediately and will expire in one year, unless the rights are earlier redeemed or exchanged. Any extension would be subject to prior approval by the Company’s shareholders.

    Pursuant to the Rights Plan, should it be triggered, the Board may decide that:

    • Each right will entitle shareholders (other than the acquiring person, whose rights will have become void and will not be exercisable) to purchase a specific number of shares of Barnwell common stock at an effectively half price.
    • Alternatively, (on a cashless basis) each outstanding right (other than the rights held by the acquiring person, whose rights will have become void) will be exchanged for one share of common stock.

    Further details about the Rights Plan will be contained in a Form 8-K and Form 8-A to be filed by the Company with the U.S. Securities and Exchange Commission.

    The information contained in this press release contains “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. A forward-looking statement is one which is based on current expectations of future events or conditions and does not relate to historical or current facts. These statements include various estimates, forecasts, projections of Barnwell’s future performance, statements of Barnwell’s plans and objectives, and other similar statements. Forward-looking statements include phrases such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “predicts,” “estimates,” “assumes,” “projects,” “may,” “will,” “will be,” “should,” or similar expressions. Although Barnwell believes that its current expectations are based on reasonable assumptions, it cannot assure that the expectations contained in such forward-looking statements will be achieved. Forward-looking statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements. The risks, uncertainties and other factors that might cause actual results to differ materially from Barnwell’s expectations are set forth in the “Forward-Looking Statements,” “Risk Factors” and other sections of Barnwell’s annual report on Form 10-K for the last fiscal year and Barnwell’s other filings with the Securities and Exchange Commission. Investors should not place undue reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and Barnwell expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein.

    CONTACT: Kenneth S. Grossman
      Vice Chairman of the Board of Directors
      Phone: (516) 482-8841
      Email: kensgrossman@gmail.com

    The MIL Network –

  • MIL-OSI: Tresu Investment Holding A/S – Financial calendar 2025

    Source: GlobeNewswire (MIL-OSI)

    TRESU INVESTMENT HOLDING A/S
    ANNOUNCEMENT NO. 01.2025
    27.01.2025

    Please be informed of the dates in 2025 for Tresu Investment Holding A/S’ planned announcements to NASDAQ Copenhagen A/S.

    Financial Calendar 2025    
    Annual Report 2024 Wednesday 30 April 2025
    Annual General Meeting Wednesday 30 April 2025
    Interim Report 1st Quarter 2025 Thursday 12 June 2025
    Interim Report 2nd Quarter 2025 Wednesday 10 September 2025
    Interim Report 3rd Quarter 2025 Wednesday 26 November 2025

    Torben Børsting
    CFO, TRESU

    Phone: +45 5130 2780

    The MIL Network –

  • MIL-OSI Security: Director Wray Visits FBI Offices in Cheyenne and Denver

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    Earlier this week, FBI Director Christopher Wray visited the Denver Field Office and met with FBI employees and partners from across Colorado and Wyoming.

    His trip to Wyoming included a productive discussion with law enforcement in the state about the importance of collaboration to fulfilling our shared mission, noting that “partnerships are more important now than they’ve ever been.” While in Wyoming, Director Wray also visited F.E. Warren AFB, where he met with military partners to discuss the many ways the FBI is working with the Department of Defense to protect against threats posed by hostile foreign nations.

    In Denver, Director Wray sat down with partners from across law enforcement, the private sector, and academia in Colorado and Wyoming, thanking them for their partnership and emphasizing the need to continue working together to stay ahead of cyber, counterintelligence, and counterterrorism threats. The group also discussed the importance of continued collaboration to defend against threats to our critical infrastructure, and emerging challenges such as criminal use of artificial intelligence and cryptocurrency. While in Colorado, Director Wray also met with officials from the Bureau of Prisons at one of their facilities.

    Director Wray pledged the FBI’s intent to try to continue to support law enforcement partners in Colorado and Wyoming through training, investigative services, and support, despite the increasingly limited budget environment. “There’s a force multiplier effect that comes from constant engagement and collaboration,” Director Wray said, “and you can count on us to keep focusing on how to be the best partner.”

    FBI Denver serves all of Colorado and Wyoming. The office has nine resident agencies covering the two states. This trip marks Director Wray’s third visit to the Denver Field Office and his first visit to Wyoming as FBI Director.

    MIL Security OSI –

  • MIL-OSI Economics: APAC automotive diesel engines market to register negative 2% CAGR over 2024-29, forecasts GlobalData

    Source: GlobalData

    APAC automotive diesel engines market to register negative 2% CAGR over 2024-29, forecasts GlobalData

    Posted in Automotive

    The automotive engines market in the Asia-Pacific (APAC) region is significantly influenced by increasingly stringent government regulations regarding exhaust emissions. Concurrently, in response to the growing trend of electrification, APAC governments are implementing policies and incentives designed to promote zero-emission vehicles. This shift is having a detrimental impact on the automotive diesel engines market. Against this backdrop, the APAC diesel engines market is expected to record a negative compound annual growth rate (CAGR) of 2.0% over 2024-29, according to GlobalData, a leading data and analytics company.

    GlobalData’s latest report, “Global Sector Overview & Forecast: Engines Q3 2024” reveals that the diesel engines market is estimated at 4.6 million units in 2024 and is forecast to decrease to 4.2 million units by 2029 in the APAC region.

    Madhuchhanda Palit, Automotive Analyst at GlobalData, comments: “Asian countries have demonstrated a proactive approach in implementing policies that foster the growth of the electric vehicle (EV) market, aiming for environmental sustainability and enhanced competitiveness in the global automotive manufacturing and export sectors. This strategy is contributing to a declining demand for traditional internal combustion engines (ICEs).”

    While China has assertively positioned itself as the global leader in the EV market, other Asian nations are also making significant strides toward electrification. For example, Thailand has set an ambitious goal of transitioning 30% of its automotive production to EVs by 2030. To facilitate this transition, the Board of Investment (BOI) in Thailand introduced the Electric Vehicle and Hybrid Incentive Program in 2017. This program provides various incentives, including reductions in excise tax and exemptions from corporate income tax, to manufacturers that utilize locally produced batteries and components in their vehicles.

    Both the passenger and commercial vehicle segments are currently experiencing a trend toward electrification. However, diesel engines are expected to demonstrate a slower rate of decline in comparison to petrol engines. This dynamic is particularly significant in the context of the commercial vehicle segment, where the electrification process presents considerable economic challenges for fleet owners. The high initial investment required for electric fleets, which typically exceeds that of ICE counterparts, poses a substantial barrier.

    Palit adds: “When it comes to transporting heavy loads, ICE engines remain more advantageous. The battery systems needed to power heavy cargo trucks for long-distance hauls—such as Class 8 trucks, which typically require a battery capacity of 1-2 MWh—are considerably heavier than a full diesel tank. This additional weight diminishes the load-carrying capacity of the truck relative to that of an ICE vehicle, thereby impacting overall business efficiency. Inadequate charging infrastructure also works as a major restraint and reason for reluctance among fleet owners to shift towards electrification in countries such as India, Thailand, and Indonesia.”

    Due to slower EV adoption rates, several key automotive manufacturers have announced a delay in their ‘going-all-electric’ plan. For instance, Volkswagen has reduced one-third of the planned investment for EVs and has allocated that towards ICE-powered cars. Mercedes-Benz has announced its decision to discontinue the development of the forthcoming MB.EA platform, which was intended for mid- and full-sized electric vehicles. In a similar vein, Ford is reducing its financial commitments to electrification and has significantly decreased its orders for batteries. These developments may be perceived as advantageous for the engine market and could potentially mitigate the rate of market decline.

    Palit concludes: “In light of the numerous challenges associated with widespread electrification, which necessitates substantial investment and time, manufacturers are actively seeking solutions to comply with emission standards. The demand for turbocharged engines is increasing due to their ability to enhance fuel efficiency and reduce emissions.

    “Furthermore, exhaust after-treatment solutions for ICEs, such as diesel particulate filters and selective catalytic reduction systems, are also witnessing rising demand as they effectively diminish harmful emissions. While it is anticipated that the market for ICE-powered vehicles may eventually face decline and transition towards full electrification in the APAC region, the timeline for this shift appears to be extending beyond initial expectations.”

    MIL OSI Economics –

  • MIL-OSI: BNP PARIBAS GROUP: Signing of the share purchase agreement for AXA Investment Managers by BNP Paribas Cardif

    Source: GlobeNewswire (MIL-OSI)

     

    SIGNING OF THE SHARE PURCHASE AGREEMENT
    FOR AXA INVESTMENT MANAGERS
    BY BNP PARIBAS CARDIF

    Press release
    Paris – 21 December 2024

    After entering into exclusive negotiations on August 1st, AXA and BNP Paribas Cardif announce the signing of the Share Purchase Agreement for AXA Investment Managers (AXA IM).

    This signing follows the completion of the information-consultation procedure on strategic issues with the relevant employee representative bodies of both AXA and BNP Paribas groups.

    “This signing marks an important step in the acquisition process of AXA IM and our long-term partnership with AXA. In anticipation of the closing process, all teams are now working to welcome AXA IM’s employees and customers into the BNP Paribas Cardif Group” said Renaud Dumora, Chairman of BNP Paribas Cardif, Deputy COO of BNP Paribas.

    As previously communicated, the agreed price for the acquisition and the long-term partnership is €5.1 billion, with the closing expected mid-2025 and an anticipated impact on BNP Paribas Group’s CET1 ratio of 25 bps subject to agreements with the relevant authorities.

    Press contacts
    Sandrine ROMANO – sandrine.romano@bnpparibas.com – +33 (0)6 71 18 23 05
    Thomas ALEXANDRE – thomas.alexandre@bnpparibas.com – +33 (0)6 02 19 48 69

    About BNP Paribas
    BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 63 countries and has nearly 183,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

    Attachment

    The MIL Network –

  • MIL-OSI Canada: Prime Minister announces new Chief Government Whip

    Source: Government of Canada – Prime Minister

    The Prime Minister, Justin Trudeau, today announced that the Honourable Mona Fortier, Member of Parliament for Ottawa—Vanier, will serve as Chief Government Whip.

    Mona Fortier previously served as Deputy Government Whip. First elected in 2017, and re-elected twice, she has held various Cabinet positions, including President of the Treasury Board and Minister of Middle Class Prosperity and Associate Minister of Finance. Before entering politics, she worked as Chief Director of Communications and Market Development at Collège La Cité and managed her own strategic communications-consulting firm. Her community involvement has earned her various recognitions, including a Queen Elizabeth II Diamond Jubilee Medal.

    As Chief Government Whip, Ms. Fortier will work as part of a diverse team to deliver real, positive change for Canadians, including making life more affordable, growing the economy, and creating good middle-class jobs.

    Quote

    “Mona Fortier is an experienced leader with a keen understanding of the issues that matter most to Canadians and the values that guide our work in their service. I know she will continue to be a great asset in this new role, as we work together to build a better Canada for everyone.”

    Quick Fact

    • Each recognized party in the Parliament of Canada has a whip. Among other duties, the whips ensure that enough Members are in the chamber for debates and votes, determine which committees Members will sit on, and assign offices and seats in the House of Commons. Whips also work with Members to ensure the smooth functioning of Parliament, Members’ offices, and service to constituents.

    MIL OSI Canada News –

  • MIL-OSI Banking: IMF Management Approves a New Staff Monitored-Program with Haiti

    Source: International Monetary Fund

    December 21, 2024

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion.

    • Management of the International Monetary Fund (IMF) approved on December 20, 2024, a Staff-Monitored Program (SMP) with Haiti covering the period through December 2025.
    • This new 12-month SMP is expected to contribute to strengthen macroeconomic stability to support well-being of people and to enhance economic resilience and governance. It will anchor the government’s macroeconomic priorities for the year ahead.
    • Fund management also welcomes the authorities’ commitment to publish the forthcoming Governance Diagnostic Report.

    Washington, DC–December 21, 2024: Management of the International Monetary Fund (IMF) approved on December 20, 2024, a Staff-Monitored Program (SMP) with Haiti which runs through December 19, 2025. The new 12–month SMP was designed by the Haitian authorities and IMF staff, keeping in mind Haiti’s fragility and capacity constraints while supporting the authorities’ economic policy objectives.

    SMPs are arrangements between country authorities and the IMF to monitor the implementation of the authorities’ economic program and to establish a track record of policy implementation that could pave the way for financial assistance from the Fund under the Upper Credit Tranche (UCT).

    Haiti faces a multidimensional crisis, a political transition, with a challenging outlook. The country is beset by both global and country-specific shocks, which have heightened its fragility. In addition to causing terrible human suffering, escalating gang violence has blocked the flow of goods and services. These events have further fueled inflation and left half the population suffering acute food insecurity. The supply-side shock caused by the security crisis will continue to suppress growth and feed inflation unless the security outlook improves.

    The top priority is to continue to restore security. This is a prerequisite for macroeconomic stability and for allowing growth to materialize. Despite domestic and global difficulties, the authorities are firmly committed to negotiating a new SMP and have managed to contain somewhat the impact of the various shocks, thereby averting even worse macroeconomic outcomes. Net international reserves were valued at nearly US$1billion at the end of September 2024. Despite the political instability, Haiti’s two key economic institutions (Ministry of Economy and Finance and the Central Bank of Haiti) have remained continuously engaged with the Fund. They have consistently attempted to adopt feasible measures to limit macroeconomic imbalances and ensure a reasonable level of economic activity in the country. They have also continued to provide data and information on previously agreed benchmarks, even when the previous SMP had lapsed.

    The SMP is an important anchor for signaling the authorities’ commitment to continue making progress toward macroeconomic stabilization and strengthen governance, and locking in macroeconomic gains accumulated over recent years, despite the many headwinds. Despite the delicate political context, and thanks to a highly inclusive consultative process, the authorities have been able to demonstrate full ownership and support for the SMP through the high-level Program Monitoring Committee (Comite du Suvie).

    The authorities have a narrow but important window of opportunity to implement reforms that can help Haiti build resilience and eventually restore its medium- and long-term potential. An urgent government priority is re-starting the mobilization of revenue, to support the country’s massive development needs and boost well-targeted spending. The measures under the new SMP should help achieve these goals.

    Continued strengthening of the social safety net is essential to cushion the impact of the shocks on the population and alleviate widespread poverty. The spending commitments previously indicated by the authorities using Food Shock Window resources should be audited in line with SMP commitments.

    The fiscal and monetary authorities’ commitment to keeping monetary financing of the deficit at zero is commendable and should continue. The FY2023 financial audit of the BRH is urgent and its eventual publication by June 2025 would be important for demonstrating transparency. The authorities’ careful pace of monetary tightening has been appropriate and consistent with the goal of fighting inflation.

    Advancing governance reforms is paramount to help Haiti exit from fragility, ensure inclusive growth and build trust with the private sector and development partners. In this vein, the authorities’ commitment to publish the Governance Diagnostic Report is commendable. It should provide a road map for reforms to enhance governance and will require capacity development support not only from the Fund but also from development partners.

    A government-led strategy to continue to strengthen the economy’s resilience to multiple shocks requires the financial support of the international community. This assistance is indispensable to allow quality spending, over the short, medium, and long term. Without it, Haiti will continue to suffer large import compression. External assistance should take the form of grants. The authorities should avoid contracting non-concessional loans, to ensure consistency with the SMP commitments. Non-concessional loans would not only be against SMP commitment. It would also undermine debt sustainability.

    In line with the Fund Strategy for Fragile and Conflict-Affected States, IMF staff will also continue to coordinate closely with Haiti’s main development partners, particularly on governance and capacity development.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

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

    @IMFSpokesperson

    MIL OSI Global Banks –

  • MIL-OSI Security: Dearborn, Michigan Man, Who Used Fake Refund Scheme to Defraud Retailers of More Than $4 Million, Sentenced to Three Years in Prison

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (c)

    Lead defendant obtained more than $1.7 million in fraud proceeds on goods he falsely claimed he returned or never received

    Seattle – A 27-year-old Dearborn, Michigan, man was sentenced today in U.S. District Court in Seattle to three years in prison and three years of supervised release for a fraud scheme damaging retailers across the country, announced First Assistant U.S. Attorney Teal L. Miller. Sajed Al-Maarej operated “Simple Refunds” through the messaging service Telegram, where coconspirators were encouraged to purchase items from retailers Al-Maarej claimed he could defraud. Al-Maarej and his staff of “professional refunders” impersonated the purchaser and lied to the retailer about the status of the item to secure a refund for the purchaser, while permitting the purchaser to keep the ordered item. The scheme caused more than $4 million in losses for retailers and induced young adults nationwide to join a criminal scheme. At sentencing U.S. District Judge Robert S. Lasnik noted that the fraud “was a difficult and expensive proposition” for the victim companies. “We need to send a message that this behavior is criminal,” Judge Lasnik said.

    “This defendant enticed many young and naïve online contacts to his illegal refunding scheme – some perhaps believed Al-Maarej’s spiel that this conduct was not illegal. They were badly misled,” said First Assistant U.S. Attorney Teal L. Miller. “This fraudulent refund scheme hurts retailers and ultimately raises prices for all of us. Al-Maarej got his expensive toys by convincing others to become complicit in his crimes.”

    According to records in the case, between September 2020 and December 2022, Al-Maarej represented to prospective purchasers that they could buy high value goods and keep them, while falsely claiming to the merchant company that a refund was due. Purchasers provided Al-Maarej information about their purchase (order number, name, address, value) and for a cut of the refund, Al-Maarej and his coconspirators would seek a refund by making false representations. For example, Simple Refunds would claim the item had not been delivered; was irretrievably damaged; or would have the purchaser mail a box of garbage or junk back to the company – once the package was scanned at the shipping point the refund was often issued before the box arrived back and the fraud was discovered. Al-Maarej recruited “insiders” at UPS and the US Postal Service who would input false scans into the order tracking history to make it appear items had been lost in shipping, stolen from the mail, or returned to the company.

    The end goal was for the purchaser to keep the product and get their money back. The purchaser then paid Al-Maarej 15-25% of the purchase price as his fee.

    Al-Maarej engaged in fraudulent refunding activity as well, on his own purchases. That conduct lasted until at least August 2023. In one instance, Al-Maarej obtained a refund for bulky tools, but he returned to the retailer an envelope filled with plastic toy frogs. One retailer identified more than $500,000 in items shipped to Al-Maarej’s home for which Al-Maarej obtained fraudulent refunds. In total, Al-Maarej made (and retailers lost) more than $1.4 million to his personal refunding activities. 

    The Simple Refunds channel on Telegram amassed a following of more than 1,000 subscribers. Al-Maarej used a second channel to post information on successful refunds. Al Maarej represented to some of those he recruited that the scheme was not illegal. He targeted young men in their teens and twenties and embroiled them in criminal conduct.

    The indictment details how two Snohomish County residents ordered thousands of dollars of merchandise and conspired with Al-Maarej to get the payments refunded. Al-Maarej or others at his direction, impersonated the buyers, claimed the items had been “delivered not received” and got the purchase price refunded. The customers kept the items.

    In May 2022, Al-Maarej deepened his fraud by offering a “mentorship” program where he would teach others to create their own refunding scams – he charged $6,000 for admission to the program. He boasted that students would “learn from the best in the game, from everything fraud related, to legit businesses and cleaning your money.”

    Last summer, Al-Maarej pleaded guilty to wire fraud and mail fraud. As part of his sentence Al-Maarej was ordered to pay $4,353,819.

    The case is being investigated by the FBI and the United States Postal Inspection Service (USPIS). Amazon, Costco, and Microsoft assisted in the investigation. The case is being prosecuted by Assistant United States Attorney Lauren Watts Staniar.

    MIL Security OSI –

  • MIL-OSI Africa: Congo Energy & Investment Forum (CEIF) 2025: Technical Sessions to Fuel Investment, Growth in Congo’s Energy Landscape

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

    BRAZZAVILLE, Congo (Republic of the), January 27, 2025/APO Group/ —

    The inaugural Congo Energy & Investment Forum 2025, scheduled for March 24-26 in Brazzaville, will bring together global energy leaders and policymakers to explore the Republic of Congo’s energy sector. The forum will feature high-level technical sessions, focusing on the latest investment opportunities, regulatory reforms and key developments in oil, gas and power generation.

    Key technical presentations will focus on the structure of Congo’s gas market, providing insight into the country’s efforts to capitalize on its natural gas reserves. With the implementation of the Gas Master Plan and the introduction of a new Gas Code, Congo is creating a more attractive investment climate for gas-to-power projects and the development of a national gas company. These sessions will explore opportunities for monetizing stranded gas resources and developing infrastructure to meet growing demand, positioning Congo as a potential regional hub for gas production with lucrative opportunities for both local and international stakeholders.

    The inaugural Congo Economic and Investment Forum, set for March 24-26, 2025, in Brazzaville, under the patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société National des Pétroles du Congo, will bring together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities. The event will explore the latest gas-to-power projects and provide updates on ongoing expansions across the country.

    As the country works to transform its energy sector, the forum will also feature key discussions on its legal and regulatory frameworks for gas market development. These sessions will offer valuable insights into recent reforms designed to attract foreign investment and enhance energy infrastructure. With Congo aiming to double oil production by 2027 and expand electricity generation, discussions will address how the new Gas Code and other reforms are streamlining energy exploration and production, creating a more transparent and attractive environment for international investors.

    A unique technical workshop at CEIF 2025 will focus on Congo’s partnerships with Kazakhstan and Azerbaijan in energy sector development. By comparing Congo’s gas market to successful models in these countries, the session will highlight the importance of international collaboration in boosting energy production, technology transfer and capacity building. With multi-sectoral agreements already signed, the workshop will explore how these partnerships are enhancing Congo’s oil and gas infrastructure, positioning the country as a competitive player in the global energy market.

    In a session dedicated to floating LNG (FLNG) technology, CEIF 2025 will showcase the country’s flagship Congo LNG Project – a game-changer for the country’s natural gas industry. The Nguya FLNG vessel, launched in 2024 with a capacity of 3 million tons per year, will play a critical role in liquefying Congo’s gas for export. This workshop will delve into the technical aspects of FLNG, its benefits for Congo’s energy infrastructure and its broader implications for the country’s natural gas export potential.

    CEIF 2025 will also feature two workshops focused on offshore exploration in Congo’s prolific oil and gas fields. The “Expanding the Congo/Angola Basin” session will explore the growing collaboration between Congo and Angola to develop reserves in the Lower Congo Basin, where companies like ExxonMobil, TotalEnergies and Chevron are expanding production. The “Deepwater Congo” session will focus on deepwater oil projects, providing an in-depth look at production techniques, technological advancements and how new fields will drive Congo’s oil output.

    Additional technical sessions will focus on Congo’s marginal fields and the country’s growing gas-to-power generation potential. Marginal fields in Congo present new opportunities for smaller independent operators, while ongoing and planned projects aimed at leveraging the country’s natural gas reserves for domestic electricity generation are set to meet rising energy demand and improve energy access.

    MIL OSI Africa –

  • MIL-OSI China: Deadly coal mine accident in central China caused by production malpractices: report

    Source: China State Council Information Office 2

    A coal mine accident that killed 16 people early this year in Pingdingshan, central China’s Henan Province, was caused by production malpractices, according to an investigation report released on Friday.
    The coal and gas outburst that took place on Jan. 12 at a coal mine operated by Pingdingshan Tianan Coal Mining Co., Ltd. has also injured five others and resulted in direct economic losses of nearly 22 million yuan (about 3 million U.S. dollars), according to the report that was released by the Henan bureau of the National Mine Safety Administration.
    The report determined that the accident was a production safety incident caused by the improper excavation of a roadway in the coal mine without eliminating the risk of coal and gas outburst in advance.
    Major problems found during the investigation include some entities’ rushing to meet deadlines, concealing work areas and the number of personnel entering the mine, falsifying monitoring data and drawings, inadequate safety and technical management, and inadequate assessment of safety risks.
    Investigators have put forward recommendations for the handling of 39 responsible individuals and related entities. The disciplinary inspection and supervisory commission of Henan Province gave their proposals on the accountability of Party members and cadres involved in the case.

    MIL OSI China News –

  • MIL-OSI China: China beefs up fiscal support for disaster control, emergency management

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

    BEIJING, Dec. 22 — China has stepped up fiscal support for disaster control and emergency management, the country’s finance minister said Sunday.

    From 2019 to 2023, China’s general public budget spending on disaster prevention and reduction and emergency management reached 3.05 trillion yuan (about 424.2 billion U.S. dollars), with an average annual growth rate of 8.85 percent, said Finance Minister Lan Fo’an while delivering a report to an ongoing session of the Standing Committee of the National People’s Congress.

    The report, detailing China’s fiscal spending on disaster prevention and reduction and emergency management, revealed that both central and local governments have made continuous efforts to provide solid financial support for the sector.

    For 2024, the central government has allocated about 334.3 billion yuan for disaster and emergency response, according to the report.

    China’s central government has issued an additional 1 trillion yuan of treasury bonds in 2023, with the aim of supporting post-disaster recovery and reconstruction, and addressing the deficiencies in disaster prevention, reduction and relief, Lan said. 

    MIL OSI China News –

  • MIL-OSI Australia: Fatal single vehicle crash, Tasman Highway Tonganah

    Source: Tasmania Police

    Fatal single vehicle crash, Tasman Highway Tonganah

    Sunday, 22 December 2024 – 6:49 am.

    Sadly a 66-year-old woman has died following a crash on the Tasman Highway at Tonganah this afternoon.
    Police and emergency services were called to the scene about 3:20 pm on Saturday the 21st of December.
    Initial inquires indicate a silver Honda Accord was travelling east on the Tasman Highway at Tonganah when the vehicle has left the road coming to rest in a ditch. The female passenger was pronounced deceased at the scene whilst the male driver and only other occupant of the vehicle aged in his sixties was conveyed the Launceston General Hospital with non-life threatening injuries.
    Anyone with information or relevant dash cam footage is asked to contact Northern Crash Investigation Services on 131 444. Our thoughts are with the female’s family and loved ones. A report will be prepared for the coroner.

    MIL OSI News –

  • MIL-OSI Asia-Pac: Joint Statement: Official visit of Shri Narendra Modi, Prime Minister of India to Kuwait (December 21-22, 2024)

    Source: Government of India

    Posted On: 22 DEC 2024 7:46PM by PIB Delhi

    At the invitation of His Highness the Amir of the State of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, Prime Minister of India His Excellency Shri Narendra Modi paid an official visit to Kuwait on 21-22 December 2024. This was his first visit to Kuwait. Prime Minister Shri Narendra Modi attended the opening ceremony of the 26th Arabian Gulf Cup in Kuwait on 21 December 2024 as the ‘Guest of Honour’ of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah.

     His Highness the Amir of the State of Kuwait Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah and His Highness Sheikh Sabah Al-Khaled Al-Sabah Al-Hamad Al-Mubarak Al-Sabah, Crown Prince of the State of Kuwait received Prime Minister Shri Narendra Modi at Bayan Palace on 22 December 2024 and was accorded a ceremonial welcome. Prime Minister Shri Narendra Modi expressed his deep appreciation to His Highness the Amir of the State of Kuwait Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah for conferring on him the highest award of the State of Kuwait ‘The Order of Mubarak Al Kabeer’. The leaders exchanged views on bilateral, global, regional and multilateral issues of mutual interest.

    Given the traditional, close and friendly bilateral relations and desire to deepen cooperation in all fields, the two leaders agreed to elevate the relations between India and Kuwait to a ‘Strategic Partnership’. The leaders stressed that it is in line with the common interests of the two countries and for the mutual benefit of the two peoples. Establishment of a strategic partnership between both countries will further broad-base and deepen our long-standing historical ties.

    Prime Minister Shri Narendra Modi held bilateral talks with His Highness Sheikh Ahmad Abdullah Al-Ahmad Al-Jaber Al-Mubarak Al-Sabah, Prime Minister of the State of Kuwait. In light of the newly established strategic partnership, the two sides reaffirmed their commitment to further strengthen bilateral relations through comprehensive and structured cooperation in key areas, including political, trade, investment, defence, security, energy, culture, education, technology and people-to-people ties.

    The two sides recalled the centuries-old historical ties rooted in shared history and cultural affinities. They noted with satisfaction the regular interactions at various levels which have helped in generating and sustaining the momentum in the multifaceted bilateral cooperation. Both sides emphasized on sustaining the recent momentum in high-level exchanges through regular bilateral exchanges at Ministerial and senior-official levels.

    The two sides welcomed the recent establishment of a Joint Commission on Cooperation (JCC) between India and Kuwait. The JCC will be an institutional mechanism to review and monitor the entire spectrum of the bilateral relations between the two countries and will be headed by the Foreign Ministers of both countries. To further expand our bilateral cooperation across various fields, new Joint Working Groups (JWGs) have been set up in areas of trade, investments, education and skill development, science and technology, security and counter-terrorism, agriculture, and culture, in addition to the existing JWGs on Health, Manpower and Hydrocarbons. Both sides emphasized on convening the meetings of the JCC and the JWGs under it at an early date.

    Both sides noted that trade has been an enduring link between the two countries and emphasized on the potential for further growth and diversification in bilateral trade. They also emphasized on the need for promoting exchange of business delegations and strengthening institutional linkages.

     Recognizing that the Indian economy is one of the fastest growing emerging major economies and acknowledging Kuwait’s significant investment capacity, both sides discussed various avenues for investments in India. The Kuwaiti side welcomed steps taken by India in making a conducive environment for foreign direct investments and foreign institutional investments, and expressed interest to explore investment opportunities in different sectors, including technology, tourism, healthcare, food-security, logistics and others. They recognized the need for closer and greater engagement between investment authorities in Kuwait with Indian institutions, companies and funds. They encouraged companies of both countries to invest and participate in infrastructure projects. They also directed the concerned authorities of both countries to fast-track and complete the ongoing negotiations on the Bilateral Investment Treaty.

     Both sides discussed ways to enhance their bilateral partnership in the energy sector. While expressing satisfaction at the bilateral energy trade, they agreed that potential exists to further enhance it. They discussed avenues to transform the cooperation from a buyer-seller relationship to a comprehensive partnership with greater collaboration in upstream and downstream sectors. Both sides expressed keenness to support companies of the two countries to increase cooperation in the fields of exploration and production of oil and gas, refining, engineering services, petrochemical industries, new and renewable energy. Both sides also agreed to discuss participation by Kuwait in India’s Strategic Petroleum Reserve Programme.

    Both sides agreed that defence is an important component of the strategic partnership between India and Kuwait. The two sides welcomed the signing of the MoU in the field of Defence that will provide the required framework to further strengthen bilateral defence ties, including through joint military exercises, training of defence personnel, coastal defence, maritime safety, joint development and production of defence equipment.

     The two sides unequivocally condemned terrorism in all its forms and manifestations, including cross-border terrorism and called for disrupting of terrorism financing networks and safe havens, and dismantling of terror infrastructure. Expressing appreciation of their ongoing bilateral cooperation in the area of security, both sides agreed to enhance cooperation in counter-terrorism operations, information and intelligence sharing, developing and exchanging experiences, best practices and technologies, capacity building and to strengthen cooperation in law enforcement, anti-money laundering, drug-trafficking and other transnational crimes. The two sides discussed ways and means to promote cooperation in cybersecurity, including prevention of use of cyberspace for terrorism, radicalisation and for disturbing social harmony. The Indian side praised the results of the fourth high-level conference on “Enhancing International Cooperation in Combating Terrorism and Building Resilient Mechanisms for Border Security – The Kuwait Phase of the Dushanbe Process,” which was hosted by the State of Kuwait on November 4-5, 2024.

     Both sides acknowledged health cooperation as one of the important pillars of bilateral ties and expressed their commitment to further strengthen collaboration in this important sector. Both sides appreciated the bilateral cooperation during the COVID- 19 pandemic. They discussed the possibility of setting up of Indian pharmaceutical manufacturing plants in Kuwait. They also expressed their intent to strengthen cooperation in the field of medical products regulation in the ongoing discussions on an MoU between the drug regulatory authorities.

     The two sides expressed interest in pursuing deeper collaboration in the area of technology including emerging technologies, semiconductors and artificial intelligence. They discussed avenues to explore B2B cooperation, furthering e-Governance, and sharing best practices for facilitating industries/companies of both countries in the policies and regulation in the electronics and IT sector.

     The Kuwaiti side also expressed interest in cooperation with India to ensure its food-security. Both sides discussed various avenues for collaboration including investments by Kuwaiti companies in food parks in India.

     The Indian side welcomed Kuwait’s decision to become a member of the International Solar Alliance (ISA), marking a significant step towards collaboration in developing and deploying low-carbon growth trajectories and fostering sustainable energy solutions. Both sides agreed to work closely towards increasing the deployment of solar energy across the globe within ISA.

     Both sides noted the recent meetings between the civil aviation authorities of both countries. The two sides discussed the increase of bilateral flight seat capacities and associated issues. They agreed to continue discussions in order to reach a mutually acceptable solution at an early date.

    Appreciating the renewal of the Cultural Exchange Programme (CEP) for 2025-2029, which will facilitate greater cultural exchanges in arts, music, and literature festivals, the two sides reaffirmed their commitment on further enhancing people to people contacts and strengthening the cultural cooperation.

     Both sides expressed satisfaction at the signing of the Executive Program on Cooperation in the Field of Sports for 2025-2028. which will strengthen cooperation in the area of sports including mutual exchange and visits of sportsmen, organising workshops, seminars and conferences, exchange of sports publications between both nations.

     Both sides highlighted that education is an important area of cooperation including strengthening institutional linkages and exchanges between higher educational institutions of both countries. Both sides also expressed interest in collaborating on Educational Technology, exploring opportunities for online learning platforms and digital libraries to modernize educational infrastructure.

     As part of the activities under the MoU between Sheikh Saud Al Nasser Al Sabah Kuwaiti Diplomatic Institute and the Sushma Swaraj Institute of Foreign Service (SSIFS), both sides welcomed the proposal to organize the Special Course for diplomats and Officers from Kuwait at SSIFS in New Delhi.

     Both sides acknowledged that centuries old people-to-people ties represent a fundamental pillar of the historic India-Kuwait relationship. The Kuwaiti leadership expressed deep appreciation for the role and contribution made by the Indian community in Kuwait for the progress and development of their host country, noting that Indian citizens in Kuwait are highly respected for their peaceful and hard-working nature. Prime Minister Shri Narendra Modi conveyed his appreciation to the leadership of Kuwait for ensuring the welfare and well-being of this large and vibrant Indian community in Kuwait.

     The two sides stressed upon the depth and importance of long standing and historical cooperation in the field of manpower mobility and human resources. Both sides agreed to hold regular meetings of Consular Dialogue as well as Labour and Manpower Dialogue to address issues related to expatriates, labour mobility and matters of mutual interest.

    The two sides appreciated the excellent coordination between both sides in the UN and other multilateral fora. The Indian side welcomed Kuwait’s entry as ‘dialogue partner’ in SCO during India’s Presidency of Shanghai Cooperation Organisation (SCO) in 2023. The Indian side also appreciated Kuwait’s active role in the Asian Cooperation Dialogue (ACD). The Kuwaiti side highlighted the importance of making the necessary efforts to explore the possibility of transforming the ACD into a regional organisation.

     Prime Minister Shri Narendra Modi congratulated His Highness the Amir on Kuwait’s assumption of the Presidency of GCC this year and expressed confidence that the growing India-GCC cooperation will be further strengthened under his visionary leadership. Both sides welcomed the outcomes of the inaugural India-GCC Joint Ministerial Meeting for Strategic Dialogue at the level of Foreign Ministers held in Riyadh on 9 September 2024. The Kuwaiti side as the current Chair of GCC assured full support for deepening of the India-GCC cooperation under the recently adopted Joint Action Plan in areas including health, trade, security, agriculture and food security, transportation, energy, culture, amongst others. Both sides also stressed the importance of early conclusion of the India-GCC Free Trade Agreement.

    In the context of the UN reforms, both leaders emphasized the importance of an effective multilateral system, centered on a UN reflective of contemporary realities, as a key factor in tackling global challenges. The two sides stressed the need for the UN reforms, including of the Security Council through expansion in both categories of membership, to make it more representative, credible and effective.

     The following documents were signed/exchanged during the visit, which will further deepen the multifaceted bilateral relationship as well as open avenues for newer areas of cooperation:● MoU between India and Kuwait on Cooperation in the field of Defence.

    ● Cultural Exchange Programme between India and Kuwait for the years 2025-2029.

    ● Executive Programme between India and Kuwait on Cooperation in the field of Sports for 2025-2028 between the Ministry of Youth Affairs and Sports, Government of India and Public Authority for Youth and Sports, Government of the State of Kuwait.

    ● Kuwait’s membership of International Solar Alliance (ISA).

     Prime Minister Shri Narendra Modi thanked His Highness the Amir of the State of Kuwait for the warm hospitality accorded to him and his delegation. The visit reaffirmed the strong bonds of friendship and cooperation between India and Kuwait. The leaders expressed optimism that this renewed partnership would continue to grow, benefiting the people of both countries and contributing to regional and global stability. Prime Minister Shri Narendra Modi also invited His Highness the Amir of the State of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, Crown Prince His Highness Sheikh Sabah Al-Khaled Al-Sabah Al-Hamad Al-Mubarak Al-Sabah, and His Highness Sheikh Ahmad Abdullah Al-Ahmad Al-Jaber Al-Mubarak Al-Sabah, Prime Minister of the State of Kuwait to visit India.

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    MJPS/ST/SKS

    (Release ID: 2087074) Visitor Counter : 10

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: 22nd Divya Kala Mela concludes at India Gate, New Delhi, with Record Sales of over Rs. 3.5 crores

    Source: Government of India (2)

    22nd Divya Kala Mela concludes at India Gate, New Delhi, with Record Sales of over Rs. 3.5 crores

    ‘Divya Kala Shakti’ enthrals visitors at Kartavya Path

    Posted On: 22 DEC 2024 7:11PM by PIB Delhi

    The Department of Empowerment of Persons with Disabilities (DEPwD) hosted the spectacular cultural programme ‘Divya Kala Shakti’ at the historic Kartavya Path, in New Delhi today. The event served as a vital platform to showcase the extraordinary talents and cultural contributions of Divyangjan (persons with disabilities) on a national scale.

     

    The event also marked the conclusion of the ‘Divya Kala Mela’, held from 12th – 22nd December, 2024, which achieved record sales of Rs. 3.5 crores. Outstanding stalls and Divyang entrepreneurs were honored with awards for their exemplary craftsmanship and entrepreneurial spirit. The event was graced by Shri Rajesh Aggarwal, Secretary, DEPwD, and Smt. Richa Shankar, Deputy Director General, along with senior officials from the Department.

     

     

     

    Speaking on the occasion, Shri Rajesh Aggarwal commended the artists and stated, “Divyangjan are setting milestones in every field, including entrepreneurship. The government remains steadfast in its commitment to the economic, social, and educational empowerment of Divyangjan.”

    During the event, the National Divyangjan Finance and Development Corporation (NDFDC) launched its new mobile app, a significant step towards providing seamless access to loans for Divyang entrepreneurs and individuals.

    A Mesmerizing Showcase of Talent

    During the 11-day extravaganza, Divyang artists from across the country captivated the audience with a variety of artistic performances, including dance, music, painting, and theatrical presentations. The audience and dignitaries present applauded the remarkable efforts and unparalleled talents of these artists.

    The ‘Divya Kala Mela’ and ‘Divya Kala Shakti’ events not only showcased the abilities of Divyangjan but also emphasized the need for a more sensitive and inclusive society. This celebration of talent, empowerment, and innovation leaves a lasting impression, inspiring both individuals and communities to embrace diversity and inclusivity.

    Video link of Closing Ceremony: https://www.youtube.com/live/UxEQ_PPMGzg?si=LerVXxZGK3-1Nyjx

     

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    VM

    (Release ID: 2087055) Visitor Counter : 49

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Prime Minister meets Prime Minister of Kuwait

    Source: Government of India

    Posted On: 22 DEC 2024 6:38PM by PIB Delhi

    ​Prime Minister Shri Narendra Modi held talks today with His Highness Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah, Prime Minister of the State of Kuwait.

    The two leaders discussed a roadmap to strengthen the strategic partnership in areas including political, trade, investment, energy, defence, security, health, education, technology, cultural, and people-to-people ties. They emphasized on deepening economic cooperation between the two countries. Prime Minister invited a delegation comprising the Kuwaiti Investment Authority and other stakeholders to visit India to look at new opportunities in the fields of energy, defence, medical devices, pharma, food parks, among others. The leaders also discussed cooperation in traditional medicine and agricultural research. They welcomed the recent signing of the Joint Commission for Cooperation (JCC) under which new Joint Working Groups in the areas of trade, investment, education, technology, agriculture, security and culture have been set up in addition to the existing JWGs on Health, Manpower and Hydrocarbons.

    The leaders witnessed the signing and exchange of bilateral agreements and MoUs after the talks. These included an MoU on Defence Cooperation, a Cultural Exchange Programme, an Executive Program on Cooperation in the Field of Sports and the Framework Agreement on Kuwait joining the International Solar Alliance.

    Prime Minister invited His Highness the Prime Minister of Kuwait to visit India.

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     MJPS/ST/SKS

    (Release ID: 2087045) Visitor Counter : 58

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Shri Manohar Lal reviews of Power and Urban Development Sector of Kerala in Thiruvananthapuram today

    Source: Government of India (2)

    Posted On: 22 DEC 2024 6:12PM by PIB Delhi

    Union Minister of Power and Housing & Urban Affairs Shri Manohar Lal reviewed the power sector scenario for State of Kerala at Hotel Leela Ravis in Thiruvananthapuram today.

    Shri Suresh Gopi, Minister of State for MoPNG & Tourism, Government of India and Shri K Krishnankutty, Hon’ble Minister, Ministry for Electricity, Government of Kerala were present in the meeting. The meeting was also attended by senior officials from the State Government, officials from Govt. of India (GoI) and officials from Power Finance Corporation (PFC).

    During the meeting, matters related to overall Power Sector scenario in the State of Kerala were deliberated. The issues related to demand and supply of power, capacity addition including possibilities in the Renewable, Hydro & Nuclear sector and power distribution sector were discussed. Further, the current status of works under execution under Revamped Distribution Sector Scheme (RDSS) and possible action plans were discussed.

    The State highlighted concerns related to power sector and the possible solutions so as to meet future demand.

    Minister for Electricity, Govt. of Kerala, in his address, thanked Hon’ble Union Minister for his visit to Thiruvananthapuram for review of State of Kerala in respect of issues related to the Power sector and also highlighted concerns of the State. He also thanked Government of India for allocation of coal linkage for 500MW, Viability Gap Funding support for Battery Energy Storage System for Rs. 135 Cr. and for allocation of Power from NTPC Barh up to March 2025.

    The Minister requested for additional allocation of power from NTPC Barh (Central Generating Plants) and for extension in time for allocation of power from the plant for up to June 2025. He also highlighted that the State has continuously worked in reducing the AT&C losses. He mentioned that the State is also working on large scale integration of Renewable power. He also mentioned that the State is suitable to coming up of data centers and is expecting substantial increase in demand in the coming years. It was remarked that the State would make all out efforts for over all improvement in the power sector.

    In his address, Shri Manohar Lal, Union Minister of Power and Housing & Urban Affairs welcomed all the dignitaries to the meeting. He mentioned that his visit to the State would help in resolution of issues and in identification of new initiatives that may be taken up to further improve services to the citizens of the State.

    Hon’ble Minister congratulated the State for the initiatives taken which has helped the distribution utility in improving their AT&C loss which would ultimately help in improving the services to the consumers. He advised the State to work on reducing accumulated losses of the distribution utility.

    Hon’ble Minister highlighted the role of RDSS in bringing improvement in the electricity distribution sector and in strengthening electricity distribution infrastructure and advised the State to expeditiously implement the works sanctioned under RDSS. He advised State to take up smart metering works in a phased manner, starting with Government establishments and subsequently for the commercial & industrial consumers. Based on experience and demonstration of benefits, the smart meters may be rolled out to other category of consumers.

    Hon’ble Minister further advised the State to resolve issues related to cancellation of DBFOO contracts for projects currently pending before APTEL. He asked State to support in identifying site and for allocation of land for Nuclear Power Project. Hon’ble Minister directed MoP to examine the issues related to Way leave charges and to take up the matter with the Ministry of Railways. He mentioned that the Central Government is working on the mechanism for single window clearance for new Power Projects.

    Union Minister of Power assured for continued support and cooperation of the Government of India in the overall development of the State and wished for the well being of the people of the State.

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    JN/SK

    (Release ID: 2087038) Visitor Counter : 55

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: National Farmers’ Day

    Source: Government of India (2)

    National Farmers’ Day

    Empowering ‘Annadatas’ for a Prosperous Nation

    Posted On: 22 DEC 2024 4:57PM by PIB Delhi

    Introduction

    Farmers, the lifeblood of the nation and revered as ‘Annadatas’, are the foundation of India’s prosperity. Their relentless toil feeds the nation, sustains the rural economy, and ensures the strength of every household. National Farmers’ Day, observed on 23rd December, celebrates their invaluable contribution. This day marks the birth anniversary of Shri Chaudhary Charan Singh, India’s fifth Prime Minister, renowned for his deep understanding of rural issues and unwavering advocacy for farmers’ welfare. It is a moment to honour our farmers’ unwavering dedication and recognise their pivotal role in shaping the nation’s progress.

    Recognising the vital role of farmers, the Government of India has introduced a suite of initiatives designed to support their socio-economic upliftment and ensure sustainable agricultural growth. These programmes, including the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), Pradhan Mantri Fasal Bima Yojana (PMFBY), and Pradhan Mantri Kisan Maandhan Yojana (PM-KMY), are aimed at providing financial security, risk mitigation, and long-term social security for farmers. By addressing both immediate challenges and long-term needs, these schemes underscore the government’s commitment to nurturing the backbone of the nation and fostering a sustainable agricultural future. 

     

    Role of Farmers in Nation-Building

    India’s agricultural sector, employing nearly half of the nation’s population, remains a cornerstone of the country’s economy and a key driver of nation-building. It contributes 17.7% to the Gross Value Added (GVA) at current prices in FY 2023-24. With approximately 54.8% of the country’s 328.7 million hectares classified as agricultural land and a cropping intensity of 155.4% (as per the Land Use Statistics for 2021-22), farmers are the bedrock of this essential sector. Their role extends far beyond mere cultivation; they are the architects of rural development and nation-building, providing food security and sustaining the livelihoods of millions. Through their hard work and innovation, they play a pivotal role in shaping a resilient and prosperous India.

    In 2023-24, the country achieved a record total foodgrain production of 332.2 million tonnes, surpassing the previous year’s output of 329.7 million tonnes. This remarkable growth is a testament to the resilience and unwavering dedication of Indian farmers, who have continuously strived to ensure food security for the nation. Their efforts go beyond mere crop cultivation; they are the bedrock of rural livelihoods, shaping the economic landscape of countless communities. The success of Indian agriculture is deeply intertwined with the wellbeing of these ‘Annadatas’, who embody the spirit of hard work, innovation, and sacrifice.

    Key Schemes for Farmers in India

    Launched over the years, these key agricultural schemes reflect the Government of India’s commitment to supporting farmers and enhancing their livelihoods. PM-KISAN, PMFBY, PM-KMY, and other initiatives like the Modified Interest Subvention Scheme (MISS), Kisan Credit Card (KCC) scheme, and Agriculture Infrastructure Fund (AIF) demonstrate a holistic approach to addressing the diverse needs of the agricultural sector. These schemes aim to provide financial assistance, insurance, affordable credit, and infrastructure development, empowering farmers with the resources needed for sustainable agricultural practices and economic security.

     

    Here are the key schemes for farmers’ welfare in India:

     

     

    Unprecedented Budget Allocation

    Since 2014, the government has significantly bolstered its commitment to agriculture by substantially increasing the budget allocation. In the 2013-14 fiscal year, the Department of Agriculture and Farmers’ Welfare had a budget of Rs. 21,933.50 crore. Over the years, this allocation has been raised more than five and a half times, reaching a remarkable Rs. 1,22,528.77 crore for the fiscal year 2024-25.

    This unprecedented increase reflects a strategic shift towards prioritizing the agricultural sector, addressing challenges faced by farmers, and ensuring sustainable development. The enhanced budget aims to improve rural infrastructure, promote modern farming techniques, facilitate access to credit, and provide financial support for various agricultural schemes and initiatives. Such a substantial allocation not only fosters farmer welfare but also aims to bolster agricultural productivity and rural prosperity, highlighting the government’s unwavering commitment to the growth and development of the agricultural sector.

     

    Other Notable Initiatives

     

    Namo Drone Didi: The Namo Drone Didi Scheme, approved for 2024-25 to 2025-26 with an outlay of ₹1,261 crore, aims to empower 15,000 Women Self-Help Groups (SHGs) by providing drones for agricultural rental services, including fertiliser and pesticide application. The scheme offers 80% Central Financial Assistance of the cost of drones, accessories, and ancillary charges, up to a maximum of ₹8 lakh. As of December 3, 2024, ₹141.41 crore has been released for Kisan drone promotion.

     

    Soil Health Card Scheme: Launched in 2015, the Soil Health Card Scheme aims to improve soil health and promote efficient fertiliser use. Over 24.60 crore cards have been issued since launch, with 36.61 lakh generated in 2023-24. A strong laboratory network supports the scheme. In order to develop the soil fertility map, government plans to test 5 crore soil samples by 2025-26.

     

    Formation & Promotion of 10,000 FPOs: In 2020, the government launched a scheme with a Rs. 6,865 crore budget to form and promote 10,000 Farmer Producer Organizations (FPOs). So far, 9,411 FPOs have been formed involving 26.17 lakh beneficiary farmers, aiming to enhance collective farming and improve market access.

     

    Kisan Kavach: On 17th December, 2024, Union Minister Dr. Jitendra Singh unveiled Kisan Kavach, Bharat’s first anti-pesticide bodysuit, designed to protect farmers from the harmful effects of pesticide exposure. This groundbreaking innovation is a major step forward in ensuring farmer safety and empowers the agricultural community through science and technology. The event also marked the distribution of the first batch of Kisan Kavach suits to farmers, emphasizing the importance of safeguarding farmers.

     

     

    Clean Plant Programme: The Union Cabinet approved the Clean Plant Programme (CPP) on 09.08.2024 with an outlay of Rs. 1,765.67 crore. The CPP aims to enhance the quality and productivity of horticulture crops by providing disease-free planting material, benefiting the dissemination and adoption of climate-resilient varieties with yield enhancement.

     

    Digital Agriculture Mission: The Union Cabinet approved the Digital Agriculture Mission on 2.9.2024 with an outlay of Rs. 2,817 crore, including the central share of Rs. 1,940 crore. This mission is conceived as an umbrella scheme to support digital agriculture initiatives, including creating Digital Public Infrastructure, implementing the Digital General Crop Estimation Survey (DGCES), and other IT initiatives by the Central Government, State Governments, and academic and research institutions.

     

    Credit Guarantee Scheme for e-NWR Based Pledge Financing (CGS-NPF): The Government of India launched the Credit Guarantee Scheme for e-NWR Based Pledge Financing (CGS-NPF) on 16 December 2024, providing a ₹1,000-crore corpus to support post-harvest financing for farmers. Under this scheme, farmers can access credit by pledging their produce stored in Warehousing Development and Regulatory Authority (WDRA) accredited warehouses, backed by electronic negotiable warehouse receipts (e-NWRs).

     

     

    National Mission on Edible Oils – Oilseeds (NMEO-Oilseeds): The Union Cabinet approved the National Mission on Edible Oils – Oilseeds (NMEO-Oilseeds) on 3.10.2024 with a total outlay of Rs. 10,103 crore. The mission aims to boost domestic oilseed production and achieve self-reliance in edible oils, to be implemented over a seven-year period from 2024-25 to 2030-31.

     

    National Mission on Natural Farming: The Union Cabinet approved the National Mission on Natural Farming (NMNF) on 25.11.2024 as a standalone Centrally Sponsored Scheme. The scheme has a total outlay of Rs. 2,481 crore (Government of India share – Rs. 1,584 crore; State share – Rs. 897 crore), focusing on promoting chemical-free, natural farming practices across the country.

     

    Conclusion

    The initiatives and schemes introduced by the Government of India are a testament to the unwavering commitment to farmers’ welfare and the sustainable growth of the agricultural sector. Through schemes like PM-KISAN, PMFBY, and the Namo Drone Didi, the government not only ensures financial security but also enhances productivity and market access for farmers. The remarkable achievements in foodgrain production, coupled with the expansion of infrastructure and digital initiatives like the Digital Agriculture Mission and the Clean Plant Programme, are setting a strong foundation for a resilient and prosperous agricultural ecosystem. As we celebrate National , it is crucial to continue these efforts, ensuring that the ‘Annadatas’ remain empowered, secure, and integral to India’s development journey.

     

    References:

    National Farmers’ Day

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    Santosh Kumar/ Ritu Kataria/ Saurabh Kalia

    (Release ID: 2087003) Visitor Counter : 41

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Central Consumer Protection Authority (CCPA) imposes a penalty of ₹ 2 Lakh on Shubhra Ranjan IAS Study for advertising misleading claims regarding results of UPSC CSE 2023.

    Source: Government of India (2)

    Central Consumer Protection Authority (CCPA) imposes a penalty of ₹ 2 Lakh on Shubhra Ranjan IAS Study for advertising misleading claims regarding results of UPSC CSE 2023.

    Shubhra Ranjan IAS Study in its advertisement claimed “13 students in Top 100”, “28 students in Top 200”, and “39 students in Top 300” in UPSC CSE 2023.

    Institute has used terms such as “Shubhra Ranjan IAS” and “Students of Shubhra Ranjan IAS” in its advertisements and letterheads, creating a deceptive impression that Mrs. Shubhra Ranjan is/was an IAS officer.

    The CCPA issues Order against Shubhra Ranjan IAS Study to discontinue the misleading advertisement with immediate effect.

    Posted On: 22 DEC 2024 10:56AM by PIB Delhi

    The Central Consumer Protection Authority (CCPA) has imposed a penalty of ₹ 2 lakh for misleading advertisement on Shubhra Ranjan IAS Study. The decision was taken to protect & promote the rights of consumers as a class and ensure that no false or misleading advertisement is made of any goods or services which contravenes the provisions of the Consumer Protection Act, 2019.

    In view of the violation of the Consumer Protection Act, 2019, the CCPA, headed by Chief Commissioner, Smt. Nidhi Khare, and Commissioner, Shri Anupam Mishra has issued an Order against Shubhra Ranjan IAS Study for misleading advertisement regarding UPSC Civil Service Exam 2023.

    Coaching Institutes and online edtech platforms use pictures and names of successful candidates to influence prospective aspirants (consumers), without disclosing the courses opted by such candidates or the fees paid by them & length of the course so attended.

    Shubhra Ranjan IAS Study in its advertisement made the following claims-

    1. “13 students in Top 100”
    2. “28 students in Top 200”
    3. “39 students in Top 300” in UPSC CSE 2023
    4. Further, the advertisements prominently depicted photographs and names of the successful candidates of the UPSC Civil Service Exam 2023, without mentioning any information about the specific course opted by such candidates.

    Shubhra Ranjan IAS Study prominently displayed successful candidate’s names & pictures and simultaneously advertised various types of courses provided by them on its official website. However, the information with respect to the course opted by the said successful candidates in UPSC Civil Service exam 2023 was not disclosed in the abovementioned advertisement.

    The CCPA found out that the claimed successful candidates were enrolled in following courses:-

    S.No

    Courses name

    No. of students

     

    Political Science and International Relations (PSIR) Crash Course & Test Series

    26 students

     

    Essay Program for Mains

    10 students

     

    Rapid Revision (Polity, Governance & International Relations)

    2 students

     

    Political Science & International Relations (PSIR) + Classroom course

    2 students

     

    Political Science & International Relations (IR)

    5 students

     

    PSIR Answer Writing Module

    8 students

     

    Sociology Offline Batch

    2 students

     

    The institute offers nearly 50+ courses. However, the DG Investigation report found that most of the claimed successful students took Political Science and International Relations (PSIR) crash course & test series which comes into play after clearing Preliminary examination. It is the right of the consumer to be informed about the specific course that successful candidates had taken from the coaching institute to make it into the final selection of CSE. For the potential consumers, this information would have contributed in their making an informed choice about the course to opt for their success at CSE.

    By deliberately concealing information about the specific course opted by each of the successful candidates, Institute made it look like all the courses offered by it had the same success rate for the consumers, which was not right.

    Section 2(28) (iv) of the Consumer Protection Act, 2019, defines misleading advertisements, including those that involve the “deliberately conceals important information”. Information regarding the specific course opted by successful candidates is important for the consumers to know so that they can make informed choice while deciding which course and coaching institute to join.

    Institute used terms such as “Shubhra Ranjan IAS” and “Students of Shubhra Ranjan IAS” in its advertisements and letterheads, creating a deceptive impression that Mrs. Shubhra Ranjan is/was an IAS officer. This constitutes a misrepresentation and unfair trade practice under Consumer Protection Act 2019, thereby misleading the public and potential students into believing that the services or guidance provided by them are directly associated with the credibility of an IAS officer. The Institute submitted that it was a clerical mistake, which is not tenable as the term Shubhra Ranjan IAS or @shubhraranjanias has been frequently used on its letterheads and in its advertisements. Institute utilized deceptive practices to create a perception of exceptional quality and success. An advertisement should be truthful & honest representation of facts by making disclosures in such a manner that they are clear, prominent and extremely hard to miss for viewers to notice.

    In view of the above, CCPA directed the Institute to discontinue the misleading advertisements with immediate effect and pay a penalty of ₹ 2,00,000 for publishing misleading advertisements.

    On 22.11.2024, Central Consumer Protection Authority (CCPA) imposed a penalty of ₹ 7 Lakh on Vajirao & Reddy Institute for advertising misleading claims regarding results of UPSC CSE 2022. Vajirao & Reddy Institute in its advertisement claimed “617 selections out of 933 in UPSC CSE 2022” and “We are ranked at 1st position among the list of top UPSC Coaching Institutes in India”. The CCPA found out that all the claimed 617 successful candidates were enrolled in the Interview Guidance Programme, provided “Free of Cost”. The CCPA issued an Order against Vajirao & Reddy Institute to discontinue the misleading advertisement with immediate effect.

    CCPA had taken action against misleading advertisements by coaching institutes. In this regard, CCPA has so far issued 45 notices to various coaching institutes for misleading advertisements. The CCPA has imposed a penalty of 63 lakhs 60 thousands on 20 coaching institutes and directed them to discontinue the misleading advertisements.

    The Department of Consumer Affairs through the National Consumer Helpline (NCH) has successfully intervened at a pre-litigation stage to ensure justice for students and aspirants who enrolled for the UPSC Civil Services, IIT and other entrance examinations. Following numerous complaints registered in the National Consumer Helpline regarding unfair practices by various coaching centers especially not refunding the enrolment fees of the students/ aspirants, NCH initiated a drive to resolve these grievances on a mission-mode to facilitate a total refund of ₹ 1.15 cr. to 432 affected students (during 1st Sep’23 ~ 31st Aug’24). All these refunds were processed promptly at a pre-litigation stage after the intervention of the department to the affected students from all corners of the country who raised their grievances on NCH.

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    AD/CNAN

    (Release ID: 2086948) Visitor Counter : 62

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation Shri Amit Shah addresses the North East Bankers Conclave 2024, organized by the North East Development Finance Corporation (NEDFI) in Agartala, Tripura

    Source: Government of India (2)

    Union Home Minister and Minister of Cooperation Shri Amit Shah addresses the North East Bankers Conclave 2024, organized by the North East Development Finance Corporation (NEDFI) in Agartala, Tripura

    Under the leadership of Prime Minister Shri Narendra Modi Ji, Northeast will become the gateway to India’s development & trust and will break all records in infrastructure development in next 25 years

    Modi Ji has empowered the Northeast from the perspectives of emotion, economy, and ecology

    In the next 10 years, the Northeast is expected to experience an average growth rate of 20%

    In 2023-24, our public sector banks earned a profit of 1.5 lakh crore, and their NPA remained below 2.8%

    The Northeast is the best destination for investing in future business

    The greatest potential lies within the Northeast, which is why the region needs to be viewed not through statistics, but through sensitivity

    All bankers should explore 100% potential in every state of the Northeast region and move forward in the direction of building a developed Northeast and a developed India

    Today, our waterways are connected to Chittagong port, opening the way for products from the northeast to be shipped across the world

    India’s banks have successfully provided MUDRA loans, SVANidhi loans, and completed the recovery of 10 lakh crore rupees in bad debts over the past 10 years

    Posted On: 21 DEC 2024 9:08PM by PIB Delhi

    Union Home Minister and Minister of Cooperation Shri Amit Shah addressed the North East Bankers Conclave 2024, organized by the North East Development Finance Corporation (NEDFI) in Agartala, the capital of Tripura. On this occasion, Union Minister of Communications and Development of the North East Region Shri Jyotiraditya M. Scindia, Chief Minister of Tripura Professor (Dr.) Manik Saha, Chief Minister of Arunachal Pradesh Shri Pema Khandu, Union Minister of State for Northeast Development Dr. Sukanta Majumdar, the Union Home Secretary, Shri Govind Mohan and several other dignitaries were present.

    In his address Union Home Minister and Minister of Cooperation said that for India, with a population of 1.4 billion and diverse geographical conditions, it is essential to promote the economy while ensuring the economic development of every region, state, village, and individual. He said until we complete economic development of 140 crore people of the country we cannot become a developed nation. Shri Shah added that the concept of a developed nation isthat every person is capable of looking after his family, every person has basic facilities and every person contribute in the development of the country. He said that such nation can become a developed nation.

    Shri Amit Shah said that equal development is necessary for any country to move forward and our bankers should adopt this basic principle. He said that development of the Northeast is a national responsibility of all of us. Shri Shah requested bankers that they should not see Northeast only from the perspective of business,potential and profit but as a responsibility. He highlighted that under the leadership of Prime Minister Shri Narendra Modi Ji, the Northeast will become the gateway to India’s development and trust in the next 25 years, serving as the gateway to the entire nation’s trust. He expressed confidence that the Northeast will break all records in infrastructure development as well.

    Union Home Minister and Minister of Cooperation appealed to the participants of the Northeast Bankers Conclave to assist in financial inclusion, economic development, and infrastructure development, urging that their approach should be sensitive to these areas. He called for the creation of separate parameters for finance, infrastructure, agriculture, MSMEs, and personal loans in the Northeast. Shri Shah said that the State Bank of India should develop specific guidelines for Northeast finance, considering the current capacity of the region with a positive outlook. He emphasized that there is immense potential in the region, and the Northeast has become the gateway for India’s exports.

    Shri Amit Shah said that a few years ago, the enclaves between Bangladesh and India were exchanged. After independence, some parts of India were inside Bangladesh, and some parts of Bangladesh were within India, which caused significant difficulties in building and maintaining infrastructure. Prime Minister Modi Ji took the initiative, and after 75 years of independence, constitutional amendments were made and talks were held with Bangladesh to exchange the enclaves between the two countries. As a result, today our waterways are connected to Chittagong, and through the Chittagong port, the entire Northeast now has open routes to send products to the world.He said that earlier the transportation cost used to be 12 to 15 percent, making it impossible to export products from the North East to outside the country, but today, whatever is produced in the Northeast, the global market is open through the Chittagong port.

    Union Home Minister said that in the past 10 years, a revolution in connectivity for the economic development of the Northeast has almost been completed. Through ISRO, excellent programs have been developed for the proper and efficient use of local resources, and peace and stability have also been achieved in the Northeast.Prime Minister Shri Narendra Modi ji has empowered the Northeast from the perspectives of emotion, economy, and ecology. In the past 10 years, Narendra Modi ji himself has visited the Northeast 65 times, and central ministers have spent over 700 nights in the Northeast. This reflects that the Northeast is a major focus of the Government of India.

    Shri Amit Shah said that in the past 10 years, many successful insolvency laws have been created in India’s banking sector. The banks in India have managed to complete the recovery of bad debts worth 10 lakh crores through schemes like MUDRA loans, SVANidhi loans, and others. Home Minister mentioned that 10 public sector banks have been merged into larger banks. Previously, public sector banks were operating at a loss, but in 2023-24, these banks made a profit of 1.5 lakh crores, and their NPA has reduced below 2.8%. He added that for future business investments, there is no better destination than the Northeast, as it is expected to experience an average growth rate of 20% over the next 10 years. Shri Shah emphasized that the financial policy should be made more flexible, and a good package should be provided to every sector and industry in the Northeast to move forward.

    Shri Amit Shah said that the biggest benefit of UPI will be for the Northeast. 95% of India’s villages are now equipped with 3G and 4G connectivity, and 80% connectivity has been completed in the Northeast as well. Additionally, numerous infrastructure projects have been carried out in the Northeast, over 20 water-based projects have been completed, and peace has been established. He mentioned that in the coming days, many industries are likely to come to the region. Tata Group’s Rs. 27,000 crore semiconductor project indicates that large industrial groups are looking to explore the potential of the Northeast. Home Minister further stated that the 50,000 MW hydropower potential in the region has not yet been fully explored, and the Brahmaputra River could provide the country with an endless supply of affordable electricity.

    Union Home Minister and Minister of Cooperation said that the greatest potential lies within the Northeast, and the region should be viewed not through statistics, but through sensitivity. Its development should not be seen as a business task, but as a national responsibility.Shri Shah said that all bankers should explore 100% potential in every state of the Northeast region and move forward in the direction of building a developed Northeast and a developed India.

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    RK/VV/ASH/PS

    (Release ID: 2086893) Visitor Counter : 63

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Recommendations of the 55th Meeting of the GST Council

    Source: Government of India

    Recommendations of the 55th Meeting of the GST Council

    GST Council recommends reduction in GST rate on Fortified Rice Kernel (FRK), classifiable under 1904, to 5%

    GST council also recommends to fully exempt GST on gene therapy

    GST Council recommends exemption of GST on contributions by general insurance companies from third-party motor vehicle premiums for Motor Vehicle Accident Fund

    GST Council recommends no GST on transaction of vouchers as they are neither supply of goods nor supply of services. The provisions related to vouchers is also being simplified.

    GST Council clarifies that no GST is payable on ‘penal charges’ levied and collected by banks and NBFCs from borrowers for non-compliance with loan terms

    GST Council recommends reduction of payment of pre-deposit for filing an appeal before the Appellate Authority in respect of an order passed which involves only penalty amount

    Posted On: 21 DEC 2024 8:23PM by PIB Delhi

    Jaisalmer, Rajasthan, 21 st December 2024

    The 55th GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in Jaisalmer, Rajasthan, today.

    The meeting was also attended by Union Minister of State for Finance Shri Pankaj Chaudhary, Chief Ministers of Goa, Haryana, Jammu and Kashmir, Meghalaya and Odisha; Deputy Chief Ministers of Arunachal Pradesh, Bihar, Madhya Pradesh, and Telangana; besides Finance Ministers of States & UTs (with legislature) and senior officers of the Ministry of Finance & States/ UTs.

     

    The GST Council inter-alia made the following recommendations relating to changes in GST tax rates, provide relief to individuals,measures for facilitation of trade and measures for streamlining compliances in GST.

    A. Changes in GST rates of goods

    GOODS

    1.   To reduce the GST rate on Fortified Rice Kernel (FRK), classifiable under 1904, to 5%.

    2.   To exempt GST on gene therapy.

    3.  To extend IGST exemption to systems, sub-systems, equipment, parts, sub-parts, tools, test equipment, software meant assembly/manufacture of LRSAM system under Notification 19/2019-Customs.

    4.         To reduce the rate of Compensation Cess to 0.1% on supplies to merchant exporters at par with GST rate on such supplies.

    5. To exempt from IGST imports of all equipment and consumable samples by Inspection Team of the International Atomic Energy Agency (IAEA) subject to specified conditions.

    6.To extend the concessional 5% GST rate on food inputs of food preparations under HSN 19 or 21 that are supplied for food preparations intended for free distribution to economically weaker sections under a government program subject to the existing conditions.

    SERVICES

    1. To bring supply of the sponsorship services provided by the body corporates under Forward Charge Mechanism.

     

    1. To exempt GST on the contributions made by general insurance companies from the third-party motor vehicle premiums collected by them to the Motor Vehicle Accident Fund, constituted under section 164B of the Motor Vehicles Act, 1988. This fund is constituted for providing compensation/ cashless treatment to the victims of road accidents including hit and run cases.

     

    1. To omit the definition of declared tariff and suitably amend the definition of specified premises (from the services rate and exemption notifications) to link it with actual value of supply of any unit of accommodation provided by the hotel and to make the rate of GST applicable on restaurant services in such hotels, for a given financial year, dependent upon the ‘value of supply’ of units of accommodation made in the preceding financial year, i.e. 18% with ITC if the ‘value of supply’ exceeded Rs. 7,500 for any unit of accommodation in the preceding financial year, and 5% without ITC otherwise. Further, to give an option to pay tax on restaurant service in hotels at the rate of 18% with ITC, if the hotel so chooses, by giving a declaration to that effect on or before the beginning of the financial year or on obtaining registration.The above changes to be made effective from 01.04.2025 to avoid any transition difficulties.

     

    1. To exclude taxpayers registered under composition levy scheme from the entry at Sr. No. 5AB introduced vide Notification No. 09/2024-CTR dated 08.10.2024 vide which renting of any commercial/ immovable property (other than residential dwelling) by unregistered person to registered person was brought under reverse charge mechanism. Further, to regularize the period from the date when the notification No. 09/2024-CTR dated 08.10.2024, became effective i.e. from 10.10.2024 till the date of issuance of the proposed notification on “as is where is” basis.

     

    Other changes relating to goods and services

    1.         To increase the GST rate from 12% to 18 % on sale of all old and used vehicles, including EVs other than those specified at 18% –Sale of old and used petrol vehicles of engine capacity of 1200 cc or more & of length of 4000 mm or more; diesel vehicles of engine capacity of 1500 cc or more & of length of 4000 mm and SUVs.[Note: GST is applicable only on the Value that represents Margin of the Supplier, that is, the difference between the Purchase price and Selling price (depreciated value if depreciation is claimed) and not on the value of the vehicle. Also, it is not applicable in case of unregistered persons.]

     

    2. To clarify that Autoclaved Aerated Concrete (ACC) blocks containing more than 50% fly ash content will fall under HS 6815 and attract 12% GST.

     

    3. To clarify that pepper whether fresh green or dried pepper and raisins when supplied by an agriculturist is not liable to GST.

     

    4.  To amend the definition of ‘pre-packaged and labelled’ to cover all commodities that are intended for retail sale and containing not more than 25 kg or 25 litre, which are ‘pre-packed’ as defined under the Legal Metrology Act, or a label affixed thereto is required to bear the declarations under the provisions of the Act and rules.

     

    5. To clarify that ready to eat popcorn which is mixed with salt and spices are classifiable under HS 2106 90 99 and attracts 5% GST if supplied as other than pre-packaged and labelled and 12% GST if supplied as pre-packaged and labelled. However, when popcorn is mixed with sugar thereby changing its character to sugar confectionary (eg caramel popcorn), it would be classifiable under HS 1704 90 90 and attract 18% GST. It has been decided to regularise the issues for the past on “as is where is” basis.(Note: There is no new imposition of any tax in this regard and is merely a clarification as certain field units were demanding different tax rates on the same. Therefore, it is a clarification being recommended by the GST Council to settle the disputes arising out of interpretation.)

    6. To clarify that the Explanation in Sl. No. 52B in notification No. 1/2017- Compensation Cess (Rate) dated 28.6.2017 regarding ground clearance is applicable with effect from 26.07.2023.

    7.         To clarify that RBI regulated Payment Aggregators are eligible for the exemption under entry at Sl. No. 34 of notification No. 12/2017-CT(R) dated 28.06.2017 since they fall within the ambit of ‘acquiring bank’ as defined in the said entry.  To also clarify that this exemption does not cover payment gateway (PG) and other fintech services which do not involve settlement of funds.

    8.  To clarify that no GST is payable on the ‘penal charges’ levied and collected by banks and NBFCs from borrowers for non-compliance with loan terms.

     

    B.        MEASURES FOR FACILITATION OF TRADE

    1.         Amendment in Schedule III of CGST Act, 2017

    • To insertclause (aa) in paragraph 8 of Schedule III of the CGST Act, 2017w.e.f.01.07.2017, to explicitly provide that supply of goods warehoused in a Special Economic Zone (SEZ) or Free Trade Warehousing Zone (FTWZ) to any person before clearance of such goods for exports or to the Domestic Tariff Area, shall be treated neither as supply of goods nor as supply of services.
    • This brings transactions relating to supply of goods warehoused in SEZ/FTWZ at par with the existing provision in GST for transactions in Customs bonded warehouse.

    2.         Issues pertaining to taxability of Vouchers

    In a significant move to address long-standing concerns regarding the taxability of vouchers under GST, the GST Council made the following recommendations:

    1. To omit sections 12(4) and 13(4) from CGST Act, 2017 and rule 32(6) from CGST Rules, 2017 to resolve ambiguities in the treatment of vouchers.
    2. To issue clarification on the following issues:
    1. Transactions in vouchers shall be treated neither as a supply of goods nor as a supply of services.
    2. Distribution of vouchers on principal-to-principal basis shall not be subject to GST. However, where vouchers are distributed on principal-to-agent basis, the commission/fee or any other amount charged by the agent for such distribution is taxable under GST.
    3. Additional services such as advertisement, co-branding, marketing and promotion, customization and technology support, customer support etc. related to vouchers would be leviable to GST on the amount paid for these services.
    4. Unredeemed vouchers (breakage) would not be considered as supply under GST and no GST is payable on income booked in the accounts in respect of breakage.

    3. Issuance of clarifications through the circulars to remove ambiguity and legal disputes in certain issues.

    • To issue circulars to provide clarity in the following issues due to varied interpretations by the field formations:
    1. Clarification regarding requirement of reversal of Input Tax Credit by electronic commerce operators in respect of supplies made under section 9(5) of CGST Act, 2017: The GST Council recommended that no proportional reversal of ITC under section 17 (1) or section 17 (2) of CGST Act, 2017 is required to be made by the ECO in respect of supplies for which they are required to pay tax under section 9(5) of CGST Act, 2017.
    2. Clarification on availability of Input Tax Credit as per section 16(2)(b) of CGST Act, 2017 in respect of goods which have been delivered by the supplier at his (supplier’s) place of business : The GST Council recommended to clarify that in an Ex-Works contract, where goods are delivered by the supplier to the recipient or a transporter at the supplier’s place of business, and the property in goods transfers to the recipient at that point, the goods are considered to be “received” by the recipient under section 16(2)(b) of CGST Act, 2017 and the recipient may claim Input Tax Credit (ITC) on such goods, subject to the conditions outlined in Sections 16 and 17 of the CGST Act, 2017.
    3. Clarification regarding applicability of late fee for delay in furnishing of FORM GSTR-9C and providing waiver of late fee on delayed furnishing of FORM GSTR-9C for the period from 2017-18 to 2022-23:
    1. The GST Council recommended to clarify through a circular that the late fee under Section 47(2) of the CGST Act, 2017 is leviable for the delay in filing the complete annual return under Section 44 of the CGST Act, 2017, which includes both FORM GSTR-9 (Annual Return) and FORM GSTR-9C (Reconciliation Statement), where applicable.
    2. For the annual returns pertaining to the period 2017-18 to 2022-23, the GST Council also recommended to issue notification under section 128 of CGST Act, 2017 for waiver of the amount of late fee for delayed filing of FORM GSTR-9C, which is in excess of the amount of late fee payable till the date of filing of FORM GSTR-9 for the said financial years, provided the said FORM GSTR-9C is filed on or before 31st March 2025.

     

    C.        MEASURES FOR STREAMLINING COMPLIANCES IN GST

    1.         Insertion of new provision for Track and Trace Mechanism

    • To insert an enabling provision in CGST Act, 2017 through Section 148A so as to empower the Government to enforce the Track and Trace Mechanism for specifiedevasion prone commodities.
    • The system shall be based on a Unique Identification Marking which shall be affixed on the said goods or the packages thereof. This will provide a legal framework for developing such a system and will help in implementation of mechanism for tracing specified commodities throughout the supply chain.

    2.         Clarification regarding recording of correct details of name of the State of the un-registered recipient as well as correct declaration of place of supply in respect of supply of ‘Online Services’

    • To clarify that in respect of supply of ‘Online Services’ such as supply of online money gaming, OIDAR services, etc. to unregistered recipients, the supplier is required to mandatorily record the name of the State of the unregistered recipient on the tax invoice and such name of State of recipient shall bedeemed to be the address on record of the recipient for the purpose of section 12(2)(b) of IGST Act, 2017 read with proviso to rule 46(f) of CGST Rules, 2017

     

    D.     OTHER MEASURES PERTAINING TO LAW & PROCEDURE

    1.         Amendment in section 17(5)(d) of CGSTAct, 2017

    • To align the provisions of section 17(5)(d) of CGST Act, 2017 with the intent of the said section, the Council has recommended amending section 17(5)(d) of CGST Act, 2017, to replace the phrase “plant or machinery” with “plant and machinery”, retrospectively, with effect from 01.07.2017, so that the said phrase may be interpreted as per the Explanation at the end of section 17 of CGST Act, 2017.

    2.         Amendment in section 107 and section 112 of CGST Act, 2017 to provide for payment of pre-deposit for filing an appeal in respect of an order passed which involves only penalty amount.

    • To amend the proviso to section 107(6) of CGST Act, 2017 providing for payment of pre-deposit at 10% instead of 25 %for filing appeals before Appellate Authority in cases involving only demand of penalty without involving the demand of tax.
    • To insert a new proviso to section 112(8) of CGST Act, 2017 providing for payment of pre-deposit at10%for filing appeals before Appellate Tribunalin cases involving only demand of penalty without involving the demand of tax.

    3. Amendment in section 2(69) of CGST Act, 2017 to insert an Explanation regarding definitions of Local Fund and Municipal Fund: To amend clause (c) of section 2(69) of CGST Act, 2017 and to insert an Explanation under the same to provide for definitions of the terms ‘Local Fund’ and ‘Municipal Fund’ used in the said clause.            

    4. Amendment in provisions pertaining to Input Services Distributor (ISD) mechanism under CGST Act, 2017 and CGST Rules, 2017

    • Toamend Section 2(61) and Section 20(1) of the CGST Act, 2017 to explicitly include inter-state RCM transactions under the ISD mechanism by including reference to supplies subject to tax under section 5(3) and 5(4) of IGST Act, 2017 in the said provisions.
    • Consequentially, to amend section 20(2) of CGST Act, 2017 and rule 39(1A) of the CGST Rules, 2017.
    • These, amendments in CGST Act, 2017 are to be made effective from 01.04.2025.

    5.         Provision for grant of Temporary Identification Number by Tax Officers to persons, not liable to be registered otherwise

    • To insert new rule 16A in CGST Rules, 2017 to provide for a separate provision for generation of temporary identification number for persons, who are not liable to be registered under CGST Act, 2017 but are required to make any payment as per rule 87(4) of CGST Rules, 2017.
    • To amend Rule 87 (4) of CGST Rules, 2017 incorporating a reference to the new Rule and consequential modification of FORM GST REG-12.

    6.Amendment in the field ‘category of registered person’ for taxpayers who opted for composition levy through FORM CMP-02

    • Toamend sub-rule (1) of rule 19 of CGST Rules, 2017 to include reference to FORM GST CMP-02 in the said rule toallow thetaxpayers to modify their “category of registered person” in Table 5 of FORM GST CMP-02throughFORM GST REG-14.

     

    1. Amendment in CGST Act, 2017 and CGST Rules, 2017 in respect of functionality of Invoice Management System (IMS)
    • The GST Council recommended inter-alia-
    1. To amend section 38 of CGST Act, 2017 and rule 60 of CGST Rules, 2017 to provide a legal framework in respect of generation of FORM GSTR-2B based on the action taken by the taxpayers on the Invoice Management System (IMS).
    2. To amend section 34(2) of CGST Act, 2017, to specifically provide for requirement of reversal of input tax credit as is attributable to a credit note, by the recipient, to enable the reduction of output tax liability of the supplier.
    3. To insert a new rule 67B in CGST Rules, 2017, to prescribe the manner in which the output tax liability of the supplier shall be adjusted against the credit note issued by him.
    4. To amend section 39 (1) of CGST Act, 2017 and rule 61 of CGST Rules, 2017 to provide that FORM GSTR-3B of a tax period shall be allowed to be filed only after FORM GSTR-2B of the said tax period is made available on the portal.

    E. OTHER MEASURES:

    • The GST Council approved the recommendation of the committee of officers suggesting measures for the various issues raised by the States in respect of issues pertaining to IGST settlement and asked the committee to conclude the desired changes by March, 2025.
    • The GST Council took note of the procedural rules proposed for the internal functioning of the GSTAT, which would be notified after examination by the Law Committee. This would help in operationalization of the GSTAT.
    • The Council also decided to extend the time frame for the Group of Ministers on the restructuring of the GST Compensation till 30th June, 2025.
    • On the request of State of Andhra Pradesh the Council recommended that a Group of Ministers be constituted to examine the legal and structural issues, and recommend a uniform policy on imposition of levy in case of a natural disaster/calamity in the State.

    The issue of whether charges collected by municipalities for granting FSI including additional FSI, chargeable to GST on reverse charge basis was brought up in the Council. The matter was deferred for further examination on the behest of the Central Government on the ground that this amount relates to Municipalities or local authority.

    Note: The recommendations of the GST Council have been presented in this release containing major item of decisions in simple language for information of the stakeholders. The same would be given effect through the relevant circulars/ notifications/ law amendments which alone shall have the force of law.

    ****

    NB/KMN

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Key stakeholders from NPS ecosystem to come together with the launch of Association of NPS Intermediaries (ANI) today

    Source: Government of India (2)

    Key stakeholders from NPS ecosystem to come together with the launch of Association of NPS Intermediaries (ANI) today

    Necessary to plan early for pension, ANI may create awareness about it: Secretary, Department of Financial Services, Government of India

    ANI to strengthen & redouble efforts to expand pension coverage in India through collective efforts and feedback mechanism: PFRDA Chairperson Dr. Deepak Mohanty

    Posted On: 21 DEC 2024 3:34PM by PIB Mumbai

     

    : Mumbai, December 21, 2024

    The Association of NPS Intermediaries (ANI) was officially launched today at a conference titled “Securing Tomorrow, With Pension” held at the Insurance Institute of India, Mumbai today. On the occasion, the association’s logo was also unveiled by the Chairperson of PFRDA, Dr. Deepak Mohanty.  This landmark initiative brings together key stakeholders from the National Pension System (NPS) ecosystem to foster collaboration, strengthen subscriber welfare, and promote the continued growth of NPS as a critical retirement planning tool for the citizens of India.

    The Secretary, Department of Financial Services (DFS), Ministry of Finance, virtually delivered the keynote address on the occasion. DFS Secretary congratulated the newly formed Association of NPS Intermediaries. It was emphasised that, with the changing demographics, rapid urbanisation and changes in family structure, early planning for the pension product by an individual is a necessity. In this regard, he urged advocacy by the newly formed association. The association was assured that any feedback from them will be examined with utmost care and urgency.

    Speaking at the conference, PFRDA Chairperson Dr. Deepak Mohanty, emphasized,
    “The launch of the Association of NPS Intermediaries is a significant milestone for the pension sector. I am confident it will further strengthen & redouble our efforts in creating awareness to expand pension coverage in India through collective efforts and feedback mechanism. The Association will lead the charge, with guidance from its members and regulators, to become a global benchmark for financial security.”

    Dr. Mohanty stated, National Pension System (NPS) has seen tremendous growth in recent years, establishing itself as a cornerstone for long-term retirement planning in India. With assets under management (AUM) exceeding ₹13.8 lakh crore, both Atal Pension Yojana (APY) and NPS, having a total subscriber base of 8 crores, has emerged as one of the most efficient, tax-advantageous, and low-cost retirement solutions available today. This remarkable growth underscores the increasing acceptance of pension schemes and the vital role it plays in securing the future of India’s working population, he added.

    Dr. Mohanty also said that the NPS industry is expanding rapidly, driven by growing awareness, government initiatives through PFRDA and NPS Trust and support from a robust network of intermediaries. The system’s flexibility, transparency, and ability to cater to a wide range of investors—from salaried employees to self-employed individuals—have made it a preferred choice for retirement planning across the country. The steady rise in subscribers and growing assets reflect the confidence Indian citizens place in NPS as a trusted retirement product, said the PFRDA Chairperson.

    Speaking about the important role to be played by ANI, Dr. Mohanty said, as the NPS ecosystem evolves, the formation of the Association of NPS Intermediaries marks a significant milestone. This association unites various stakeholders, including Pension Fund Managers.

    The conference titled “Securing Tomorrow, With Pension” featured an insightful address by Shri Siddhartha Mohanty, Chairperson of LIC of India, who focused on the pivotal role of increased pension assets in the development of the financial sector in India. Shri Rama Mohan Rao Amara, MD of State Bank of India, and Shri Amitabh Chaudhry, MD & CEO of Axis Bank Ltd., shared their perspectives on the critical role financial institutions play in driving the adoption and growth of the NPS. Shri Animesh Mishra, Additional Central Provident Fund Commissioner, EPFO, also addressed the gathering, emphasizing the lack of advocacy about the need for sustainable pension and EPF alone will not be sufficient to reach the desired replacement rate.

    A panel discussion on “Pension Society in Viksit Bharat@2047”, moderated by Prof. (Dr.) Manoj Anand, Whole-Time Member (Finance), PFRDA, with participation of experts from the Government, Industry and Academia.  During moderation, Prof. (Dr.) Manoj Anand, Whole-Time Member (Finance), PFRDA in its opening remark highlighted on the increased longevity, need for financial literacy and long-term sustainable investment options focussed on ESG. Shri Pankaj Sharma, Joint Secretary, DFS emphasized that Government is taking adequate steps to increase the penetration and the young generation should be sensitised the saving for pension. Dr Ritu Anand, Thought Leader, Human Resources stated that lot of work has to be done by the HR Community to introduce NPS starting from the top management of the corporates. Sh. Dhirendra Kumar, CEO, Value Research mentioned that Pension Funds should aim to make investment provisions for the longer term considering the longer investment horizon of the product. Smt Bahroze Kamdin, Partner, Deloitte Haskins & Sells informed that NPS is a tax efficient product and at the same time ensures that the investments are safe and secure with decent returns. Prof S.V.D. Nageswara Rao, Prof and Head, SJM School of Management, IIT Bombay mentioned that Financial Literacy is most important step to ensure better penetration of pension across the society.

    About Association of NPS Intermediaries (ANI)

    The Association of NPS Intermediaries is a collective platform representing all stakeholders in the NPS ecosystem. It is committed to enhancing the effectiveness of the system, strengthening subscriber welfare, and collaborating with policymakers to shape the future of retirement planning in India. The ANI stakeholders are Points of Presence (Bank and Non-Bank), Central Record Keeping Agencies, Trustee Banks, Custodians, Aggregators, Annuity Service Providers, Pension Agents, Retirement Advisors, and other industry participants.

    The primary objectives of the association are to:

    • Promote NPS as a reliable, flexible, and tax-efficient retirement product.
    • Focus on subscriber welfare by ensuring smooth and transparent processes within the system.
    • Collaborate with regulators and policymakers to improve the NPS framework and contribute to developing the pension market in India.

     *****

    Sriyanka Chatterjee/ Edgar Coelho/P.Kor

     

     

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    (Release ID: 2086770) Visitor Counter : 55

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: Africa Investment Forum 2024 Market Days highlights Japan’s Role in Africa’s agricultural and energy revolution

    Source: African Development Bank Group

    African Development Bank President Dr. Akinwumi Adesina painted a compelling picture of the potential of Africa’s agricultural and energy transition during a plenary session at the Africa Investment Forum 2024 Market Days, highlighting the deepening Japan-Africa partnership, emphasizing how Japanese technology and innovation could help unlock them.

    He spoke on 9 December as part of two panel discussions on Africa’s agriculture and energy transition, that brought together 100 Japanese investors, showcased how digital solutions , innovative technologies and business models are transforming Africa’s business  landscape.

    “Agriculture is the place to be,” declared Dr. Adesina, highlighting Africa’s possession of 65% of the world’s remaining arable land. “You may like oil and gas, that’s fine. But nobody drinks oil, and nobody smokes gas. But everybody eats food three times a day.” With the global food and agricultural market in Africa projected to reach $1 trillion by 2030, the continent presents unprecedented opportunities for investment and innovation.

    Digital Revolution in Agriculture

    Space Shift Inc. demonstrated their groundbreaking use of satellite technology for crop monitoring in Nigeria. Chief Business Officer Tamao Tada presented how their AI-powered system combines optical and radar satellite data to provide continuous monitoring of crop growth, harvest timing predictions, and historical farming activity records – even through cloud cover. This technology is enhancing credit scoring for farmers and improving agricultural decision-making.

    AAIC Partners Africa Limited, through Director Hiroki Ishida, shared their success story in Rwanda and Tanzania, where they’ve implemented smart agriculture projects covering 1,700 hectares. Their work demonstrates how Japanese technology can transform large-scale agricultural operations in Africa through IoT solutions and satellite technology optimization.

    VunaPay’s COO, Koya Matsuno, addressed one of agriculture’s most pressing challenges through their digital platform that enables instant payments to farmers upon produce delivery. “Imagine working hard for a month and your boss tells you that you’re not going to get paid for another six months,” Matsuno illustrated, highlighting how their solution is transforming agricultural finance.

    Green Carbon Inc.’s Manager, Ryo Harada, introduced innovative approaches to generating carbon credits in agriculture. Their projects, including biochar and alternate wetting and drying (AWD) in rice fields, can reduce methane emissions by 30-50% while generating valuable carbon credits for farmers.

    Strategic Partnership Framework

    The Japan International Cooperation Agency (JICA), represented by Jin Wakabayashi, Deputy Director General for Private Sector Investment Finance, outlined their comprehensive support for agricultural development, emphasizing three key pillars for private finance window: Climate-resilient agriculture; Food security enhancement and financial inclusion facilitation.

    The African Development Bank’s Director of Private Sector Operations, Richard Ofori-Mante, highlighted successful collaborations with Japanese institutions, including a $600 million of the Enhanced Private Sector Assistance for Africa (EPSA) facility with JICA and ongoing partnerships with major Japanese corporations like Mitsubishi.

    “What I see here is what Executive Director Nomoto and I envisioned,” reflected Dr. Adesina, describing the creation of a comprehensive ecosystem supporting Japanese investment in African agriculture. This ecosystem spans agricultural technology and innovation; infrastructure development; financial services; private equity and venture capital and government support mechanisms.

    The Bank’s collaboration with MasterCard on the Community Pass program, aiming to provide 100 million African farmers with digital access to financial services and agricultural information, exemplifies this ecosystem approach.

    Green Transition and Digital Solutions

    Uncovered Fund specializes in supporting start-ups in Africa, including climate technology company and electric vehicle (EV) battery service provider, through their funds to support net zero in the continent. “Not just financing, the Uncovered Fund also provides Japanese technology to the start-ups”, explained Mr. Takuma Terakubo, CEO & General Partner.

    Hitachi Energy is also working towards clean energy transition and carbon neutral. Through its technologies and partnerships, Hitachi is implementing infrastructure projects which deliver reliable renewable energy to cities and rural areas, contributing to electrification of Africa. Mr. Bekim Tahiri, Executive & Global Sales Manager, emphasizes the importance of digitalization to make all the information visible to identify any issues to maintain their power supply and critically of investing into the Electrical Grid to successfully integrate clean energy whilst supporting access to power for the African continent.

    Mizuho, one of the global systemically important banks, has been a bridge between Africa and Asia through strong partnerships with African financial institutions. In his presentation, Mr. Junaid Belo-Osagie, Executive Director, focused on two sectors: hydrogen and clean cooking. “In terms of clean cooking, four in five Africans are exposed to harmful gases, and only 4 billion USD are required to move towards clean cooking scenario”, he added.

    The mission of the Japan Organization for Metals and Energy Security (JOGMEC) is to ensure a stable and affordable supply of energy and mineral resources. Ms. Yuri Uchida, Deputy General Manager of JOGMEC, underscored that in terms of hydrogen and ammonia sector, JOGMEC has a support system that focuses on the price gap, where they try to promote low-carbon hydrogen society.

    Nippon Export and Investment Insurance’s (NEXI) business in Africa has been growing in the past 20 years at an annual growth rate of 18%. Mr. Yuichiro Akita, General Manager, illustrated several cases including two wind power projects in Egypt and one solar power project in Kenya, where they underwrote insurances to facilitate green energy transition. “We have projects pipeline worth 5 billion USD in the coming years”, Mr. Akita emphasized.

    Catalyzing Action

    Ken Shibusawa, Vice-chairperson of Africa Project Team, Keizai Doyukai (Japan Association of Corporate Executives), brought urgency to the discussions. Moderator of the second session, he challenged his Japanese peers to move from interest to action, emphasizing that beyond the commonly discussed “cost of inaction” in sustainability, there was another critical cost: Japan’s missed opportunities in Africa. “In Japan, we have the technology, we have the people, we have the money, but what we lack is the Action,” Shibusawa noted, urging Japanese businesses to realize the cost they’re paying for future generations by not acting in Africa.

    Japan’s Long-term Commitment to Africa

    In closing remarks, Deputy Vice Minister of Finance of Japan, Daiho Fujii, underscored Japan’s long-standing commitment to African development, dating back to the country’s first participation in the African Development Fund in 1973. He highlighted Japan’s pioneering role in private sector mobilization, notably through the establishment of the EPSA at the Bank in 2006, which has provided around $9 billion to date.

    “Africa undoubtedly has huge potential to attain high growth, create jobs and build a solid economic structure for future generations,” Fujii emphasized. He particularly noted how the day’s focus on agricultural innovation and green growth addresses critical development challenges while respecting African ownership of its development path.

    The Deputy Vice Minister stressed that “it is time for us to co-create innovative solutions together with Africa,” highlighting how Japanese solutions and innovative business models presented during the session could be “real game-changers” in addressing the continent’s challenges and unleashing its potential.

    Looking ahead to TICAD 9

    With Japan’s upcoming Tokyo International Conference on African Development (TICAD 9), set to take place in Yokohama in August 2025, and the African Development Fund’s 17th replenishment negotiations on the horizon, the partnership between Japan and Africa in agricultural innovation and green growth is poised for further expansion. This momentum is evidenced by Executive Director Takaaki Nomoto’s successful mobilization of 100 Japanese participants for the Forum, up from 80 investors last year.

    Looking toward TICAD 9, Deputy Vice Minister Fujii reaffirmed Japan’s commitment: “Japan respects African ownership and will continue to encourage sustainable development driven by Africa… I believe if we work together, we can see an Africa where all people enjoy healthy and productive lives.”

    The convergence of Japanese technology, investment, and Africa’s agricultural and energy transition potentials is creating unprecedented opportunities for sustainable development and food and energy security, marking a new chapter in Japan-Africa relations.

    MIL OSI Economics –

  • MIL-OSI China: Private sector gaining strong legal support

    Source: China State Council Information Office

    A worker is seen at a workshop of a refrigeration equipment company in Jinzhou city, North China’s Hebei province, Sept 19, 2023. [Photo/Xinhua]

    Chinese lawmakers are deliberating a draft of the country’s first law specifically focusing on the private sector’s development and protection, aiming to bolster the private economy through legal norms amid strategic reforms to optimize the business environment.

    The draft, which comprises nine chapters and 78 articles, covers eight main aspects, including fair competition, improving the investment and financing environment, and scientific and technological innovation. It was submitted to an ongoing session of the Standing Committee of the National People’s Congress, the country’s top legislature, for deliberation on Saturday.

    Upon approval, the draft, which elevates crucial measures for promoting private sector growth with legal norms, will be conducive to creating a law-based environment that is favorable for economic growth, including the growth of the private sector, said He Rong, minister of justice.

    The official drafting process began in February, when the Ministry of Justice, the National Development and Reform Commission and the Legislative Affairs Commission of the NPC Standing Committee jointly organized a legislative seminar on the formulation of the law, gathering opinions and suggestions from representatives of private enterprises and experts.

    The issuance of the private economy promotion law was also mentioned as a key task for 2025 during the Central Economic Work Conference held earlier this month.

    Bi Jiyao, a researcher at the Chinese Academy of Macroeconomic Research, said: “It is important to improve the business environment and offer more opportunities for entrepreneurs in the private sector to boost their confidence. This, in turn, will play a proactive role in stabilizing economic growth and ensuring stable employment.”

    China has consistently been refining its legal frameworks to boost private economic development since the start of the year, with a focus on attracting investment, promoting equitable market access, and strengthening financial support across various regions and departments. Officials and experts said that these policy adjustments have started to yield tangible results, bolstering the resilience of China’s private enterprises and fostering a noticeable trend of market recovery.

    Data from the State Administration for Market Regulation shows that as of the end of September, the total number of registered private enterprises nationwide surpassed 55 million, accounting for 92.3 percent of all enterprises. In the first three quarters of this year, 6.19 million private enterprises were newly registered across the country, according to the administration.

    Lin Song, dean of the Business School at the Central University of Finance and Economics, said the increasing numbers of newly registered private enterprises, patents, and research and development expenditures serve as evidence of the overall favorable business environment for private enterprises.

    “Still, we need to improve a high-quality fair competition system, transform the regulatory approach to the private economy sector, integrate the private economy into the overall regional development ecosystem, further stimulate private investment vitality, and promote the sustainable development of the private economy,” Lin said.

    The draft law emphasizes the implementation of a nationwide unified market access negative list system, saying that aside from areas on the negative list, various economic organizations, including private entities, will have equal access in accordance with the law.

    It also noted that bidding and government procurement must not restrict or exclude private entities.

    Meanwhile, as the ongoing technological revolution and industrial transformation are spurring a wave of emerging technologies, industries and business models, and creating fresh demand that offers new growth opportunities for the private economy, the draft law supports the active participation of private economic entities in national scientific and technological projects. It also supports empowering capable private entities to spearhead major technological advancements.

    The draft also advocates including private economic entities in major national scientific research infrastructure and promoting collaboration across industry, academia and research institutes, while strengthening the protection of their intellectual property rights.

    “China has broadened market access for the infrastructure sector, allowing private companies to participate equally, which effectively expands the scope of investment for many private companies,” said Bi, from the Chinese Academy of Macroeconomic Research.

    MIL OSI China News –

  • MIL-OSI Banking: Money Market Operations as on December 20, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 8,198.97 6.62 5.75-7.10
         I. Call Money 881.85 6.27 5.75-6.90
         II. Triparty Repo 5,477.15 6.59 6.25-6.77
         III. Market Repo 53.47 6.20 6.20-6.20
         IV. Repo in Corporate Bond 1,786.50 6.88 6.85-7.10
    B. Term Segment      
         I. Notice Money** 10,175.64 6.78 5.10-7.00
         II. Term Money@@ 267.00 – 7.00-7.15
         III. Triparty Repo 4,07,739.70 6.71 6.50-6.80
         IV. Market Repo 1,46,635.19 6.71 5.90-6.90
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Fri, 20/12/2024 7 Fri, 27/12/2024 1,50,004.00 6.52
         (b) Reverse Repo          
    3. MSF# Fri, 20/12/2024 1 Sat, 21/12/2024 4,580.00 6.75
      Fri, 20/12/2024 2 Sun, 22/12/2024 0.00 6.75
      Fri, 20/12/2024 3 Mon, 23/12/2024 258.00 6.75
    4. SDFΔ# Fri, 20/12/2024 1 Sat, 21/12/2024 56,377.00 6.25
      Fri, 20/12/2024 2 Sun, 22/12/2024 0.00  6.25
      Fri, 20/12/2024 3 Mon, 23/12/2024 8,467.00  6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       89,998.00   
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo Fri, 13/12/2024 14 Fri, 27/12/2024 75,004.00 6.52
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,459.41  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     85,993.41  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     1,75,991.41  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on December 20, 2024 9,93,519.37  
         (ii) Average daily cash reserve requirement for the fortnight ending December 27, 2024 9,66,084.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ December 20, 2024 1,50,004.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on November 29, 2024 1,04,225.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1755

    MIL OSI Global Banks –

  • MIL-OSI Australia: Arrest – Domestic Violence – Central Desert

    Source: Northern Territory Police and Fire Services

    Northern Territory Police have arrested a 36-year-old man in relation to a domestic violence assault that occurred in Harts Range early this morning.

    Around 4:40am, the Joint Emergency Services Communication Centre (JESCC) received a report that a 31-year-old woman had been assaulted by a man with a blunt weapon at a residence within the community.

    Police responded and arrested the man without incident after he fled into nearby bushland.

    The woman suffered significant injuries to her legs and is currently being conveyed to Alice Springs Hospital for treatment.

    Investigations are ongoing and police urge anyone who has information to contact police on 131 444 and quote reference P24357246. You can also anonymously report through Crime Stoppers on 1800 333 000 or via https://crimestoppersnt.com.au/.

    Support services for those affected by domestic or family violence are available, including 1800RESPECT (1800 737 732) and Lifeline (13 11 14).

    MIL OSI News –