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Category: Finance

  • MIL-OSI Submissions: Economy – ECB’s rate cut piles pressure on the Euro

    Source: deVere Group

    October 17 2024 – The European Central Bank (ECB) has lowered interest rates for the third time this year, as inflation in the eurozone shows signs of easing and the economy struggles to regain momentum.

    With money markets now expecting three more rate cuts by March 2025, the euro is likely to face prolonged downward pressure, predicts the CEO of one of the world’s largest independent financial organizations.

    The prediction from deVere Group’s Nigel Green follows Thursday’s quarter-point rate cut, which brings the deposit rate down to 3.25%.

    He says: “This is the first time in 13 years that the ECB has delivered consecutive rate cuts, marking a pivotal moment for both the eurozone economy and global investors.

    “Lower interest rates make a currency less appealing to investors as they reduce returns on assets denominated in that currency.

    “As the ECB continues to signal further rate cuts, this trend is expected to intensify. The euro is likely to weaken as investors seek higher returns elsewhere, potentially leading to capital outflows from the eurozone.

    “The ECB’s actions indicate a clear shift in focus, from managing inflation to stimulating growth.

    “With continued rate cuts on the horizon, the euro is set to remain under pressure for the foreseeable future, making this a critical time for investors to assess their portfolios.”

    For investors holding euro-denominated assets, a weakening currency could present some challenges, especially for those with international exposure. As the euro depreciates, returns on European investments could decline when converted back into stronger currencies.

    However, there are also opportunities, particularly in export-heavy sectors, where a weaker euro makes European goods more competitive on the global market.

    “In light of the ECB’s monetary policy approach, we recommend investors take a close look at currency risk and consider hedging strategies if they have significant exposure to the euro,” affirms Nigel Green.

    “On the other hand, sectors such as manufacturing and exports could benefit from a more competitive currency.”

    For investors looking to take advantage of a weaker euro, diversification into eurozone industries that are less reliant on domestic demand and more focused on exports could prove beneficial. These industries are likely to see growth as their goods become more attractive on the international market, providing opportunities in the face of broader economic stagnation.

    The deVere CEO concludes: “Investors should be prepared for sustained euro depreciation and adjust their strategies accordingly.

    “The weakening euro could be a double-edged sword, offering opportunities in specific sectors while also requiring a more cautious approach to currency risk.”

    deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $12bn under advisement.

    MIL OSI – Submitted News –

    January 24, 2025
  • MIL-OSI Australia: Cyber Security is Everyone’s Business

    Source: Northern Territory Police and Fire Services

    This October is Cyber Security Awareness Month and Northern Territory Police are urging Territorians to take a moment to ensure you’re being Cyber Secure.

    There are still bookings available in both Alice Springs and Darwin for free information sessions for seniors next week.

    Cyber Security is everyone’s business and following the below simple steps can greatly reduce the likelihood you fall victim to cyber criminals.

    Senior Constable Nadine Caulfield with the NT CyberCrime Investigations Unit (CIU) said “Northern Territory Police regularly receive reports where victims have suffered financial loss, or have become a victim of identity theft, and in many cases we investigate, a stronger password or the presence of Multi-Factor Authentication could have prevented it.

    “Those two simple tools remain one of the best defences against cybercrime.  We hear the messaging all the time – update your password, set up multi-factor authentication or two-step verification, and there’s a reason for it –it works. 

    “Last year, the NT CIU was made aware that 39 Australians, from every state and Territory across the country, reported to police that they were victims of online fraud.  Two offenders were identified in the NT.  Both were arrested and charged with 39 counts each of Obtain a Benefit by Deception.  The matter remains before Darwin Local Court with their next appearance is on 18 November 2024.

    “Throughout our investigations, it became apparent that there was likely to be at least another 200 victims of the same online fraud syndicate.  Many people may be ashamed to report that they have been the victim of a scam, but proper reporting gives police the information needed to tackle these offenders head on.

    “NT Police will be jointly presenting in free Cyber Safety Sessions lead by the NT Government in partnership with the Council of Aging NT.”

    The Alice Springs sessions will be held on Wednesday 23 October – the Seniors event at 10am to 11:30am, and the Business event at 1pm to 2.30pm at the Alice Springs Convention Centre.

    The Darwin Seniors session will be held on Friday 25 October at 1pm to 2:30pm at the Council of the Ageing, Spillett House.

    Bookings are essential so register HERE.

    Cybercrime across Australia remains grossly underreported. NT Police encourage all Territorians to make a report if you have been a victim of cybercrime, even if you did not suffer financial loss.

    Reporting has never been more simple by going straight to Cyber Report.

    For more information go to https://becybersmart.nt.gov.au/. 

    MIL OSI News –

    January 24, 2025
  • MIL-OSI Asia-Pac: HKMA introduces multiple measures to support SMEs’ development, upgrade and transformation

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Hong Kong Monetary Authority:
     
         The Hong Kong Monetary Authority (HKMA), together with the banking sector, introduced multiple measures today (October 18) to further support, through financing as well as banking products and services, the continuous development of small and medium-sized enterprises (SMEs) and assist them in expanding new businesses and markets.
          
         Since the launch of the nine SME support measures by the HKMA and the Banking Sector SME Lending Coordination Mechanism (Mechanism) in March this year, a total of around 20 000 SMEs have benefitted from the measures, involving an aggregate credit limit of over HK$44 billion. The HKMA has also been deepening its understanding of the challenges and needs faced by SMEs of different sectors through various channels and platforms, including the Taskforce on SME Lending (Taskforce) which was established in August this year, and engagement sessions with over 50 trade associations and their members from different industry sectors.
          
         While Hong Kong is currently undergoing economic transformation, the HKMA and the banking sector are aware of the needs of SMEs to strive for change and adapt to changes in the market and business operating environment. Taking into account the views of the commercial sector, the HKMA and the banking sector will roll out the following five measures to assist SMEs’ continuous development, upgrade and transformation, and enhance their competitiveness and productivity to cope with new operational challenges:
     
         1. Release of bank capital to facilitate the financing needs of SMEs: The HKMA lowered the countercyclical capital buffer (CCyB) ratio from 1 per cent to 0.5 per cent, and will allow banks to early adopt the preferential treatments for SME exposures under the Basel III capital framework. These policies will release bank capital and thereby enable banks to make use of the additional capital to facilitate the financing needs of SMEs. 

         2. Set aside dedicated funds to support SMEs: The 16 banks that are active in SME lending have set aside a total of over HK$370 billion of dedicated funds for SMEs in their loan portfolio. The funds will allow SME customers to access necessary financing for coping with the evolving business environment. The banks will regularly review and consider scaling up the size of their dedicated funds in response to SMEs’ needs and development. 
         â€‹
         3. Launch more credit products and services to assist SMEs’ transformation: Banks will launch more credit products and services to meet the transformation needs of SMEs. Examples include pre-approved credit limits, unsecured loans, cross-border loans, and loans with flexible repayment periods.
     

    On digital transformation, banks will offer e-commerce financing and electronic payment services to enable SMEs in different sectors such as retail, catering and trading to better utilise data and adopt innovative business solutions, so that SMEs can strengthen their marketing and promotion, streamline business processes and save operating costs. 

    On green transformation, banks will actively consider launching relevant advisory services. Through collaboration with green certification agencies, banks can alleviate the costs for SMEs to apply for green certification, thereby supporting their low-carbon transition. Banks will also provide green loans to assist SMEs in purchasing and adopting low-carbon equipment, so as to reduce the SMEs’ own carbon emissions and transform into green suppliers. 

         4. Increase the partial principal repayment options: When an orderly exit from the banking sector’s Pre-approved Principal Payment Holiday Scheme commenced in July 2023, the Mechanism introduced enhanced measures to assist corporates’ gradual return to normal repayment. Since some customers’ partial principal repayment arrangements will expire in early 2025, banks will be accommodative and consider offering more flexible repayment arrangements to help these customers to address challenges encountered during economic transformation. Such arrangements include, for instance, extending the duration of partial principal repayment, offering more options on the proportion and duration of partial principal repayment, or even offering principal moratorium, subject to prudent risk-management principles. The above-mentioned arrangements are also applicable to taxi loans, public light bus loans and commercial vehicle loans taken out by personal customers.

         5. Devote sufficient manpower and resources to implement the enhancements to SME Financing Guarantee Scheme as soon as possible: Banks will allocate adequate resources to process applications and work closely with HKMC Insurance Limited to implement as soon as possible the principal moratorium and other enhanced measures under the SME Financing Guarantee Scheme.

         The HKMA will continue to understand the SME-related business strategies of banks, and maintain close communication with the commercial sectors through the Mechanism and the Taskforce. Seminars and other activities will be organised to promote the SME services, products and schemes offered by the banking sector in the concerted efforts to assist the continuous development, upgrade and transformation of SMEs.
     
    Background
     
    The Banking Sector SME Lending Coordination Mechanism

         The Banking Sector SME Lending Coordination Mechanism was established by the HKMA in October 2019. Participants include 11 banks (Note 1) that are most active in SME lending, the Hong Kong Association of Banks (HKAB) and the HKMC Insurance Limited. During the pandemic, the Mechanism rolled out several rounds of relief measures for corporates, including the Pre-approved Principal Payment Holiday Scheme. In March 2024, the HKMA, together with the Mechanism, launched nine measures to assist SMEs in obtaining bank financing and to support their continuous development.
     
    The Taskforce on SME Lending

         The Taskforce on SME Lending was jointly established by the HKMA and HKAB in August 2024. Participants include representatives of the HKMA, HKAB and 16 banks (Note 2) that are active in SME lending. The Taskforce aims to further strengthen the related work for supporting SMEs in obtaining bank financing at both the individual case and the industry levels. Participating banks of the Taskforce have stated that they would ensure the ongoing effective implementation of the nine SME support measures that were launched previously, and indicated that they had not changed and would not change their risk appetite towards SME financing and related credit approval standards. The participating banks would also strive to treat customers fairly and communicate with customers in an accommodative manner.
     
    Note 1: Bank of China (Hong Kong), Bank of East Asia, China Construction Bank (Asia), Citibank, Dah Sing Bank, DBS Bank (Hong Kong), Hang Seng Bank, The Hongkong and Shanghai Banking Corporation, Industrial and Commercial Bank of China (Asia), OCBC Bank (Hong Kong), and Standard Chartered Bank (Hong Kong).

    Note 2: Including the 11 banks participating in the Mechanism, and Bank of Communications (Hong Kong), China CITIC International, Fusion Bank, Nanyang Commercial Bank and PAO Bank.

    MIL OSI Asia Pacific News –

    January 24, 2025
  • MIL-OSI USA: Cassidy Tours Bayou Bend Health and Wellness Center

    US Senate News:

    Source: United States Senator for Louisiana Bill Cassidy

    LAFAYETTE – Today, U.S. Senator Bill Cassidy, M.D. (R-LA) toured the Bayou Bend Health and Wellness Center, which has served patients in St. Mary Parish since 1953 and provides many of the same services a patient can find at hospitals in large cities.

    “As a doctor, I know that good health care is important for the individual, the family, and the community,” said Dr. Cassidy. “Families will move to a community based upon the quality of their health care. Bayou Bend is meeting those needs and then some.”
    Last July, Cassidy reintroduced the bipartisan Treat and Reduce Obesity Act, which would expand coverage of chronic weight management medications and specialists within Medicare. 
    Additionally, Cassidy has introduced legislation to support rural health care and the communities they serve. That includes the Protecting Access to Ground Ambulance Medical Services Act to support rural ambulance services, the PEERS in Medicare Act to encourage peer counseling for senior citizens, and the CONNECT for Health Act to support telehealth through Medicare. The announcement by Cassidy and Governor Jeff Landry in August of $1.35 billion from the Infrastructure Investment and Jobs Act (IIJA) for rural broadband will help provide the foundation necessary to expand telehealth throughout Louisiana.

    Bayou Bend provides numerous medical services to its patients, including respiratory therapy, radiology, pain management and rehabilitation, maternity and newborn nursery services, and surgical care. Their Wellness Center features a fitness center with an indoor walking track, group exercise studios and a place for cycling, as well as space for wellness testing and expanded therapy. Cassidy toured both the hospital and wellness center and was led by Ms. Stephanie Guidry, CEO of Bayou Bend.
    “We are so thankful that Senator Cassidy took some time out of his schedule for a tour,” said Ms. Guidry. “We had wonderful discussions about Bayou Bend’s growth and strategy to transition from treating illness to creating wellness in the communities we serve. During the tour of our Wellness Center, we share some patient success stories that illustrate our efforts to combat diseases like hypertension and diabetes through wellness initiatives. We also shared that in just our first year open, we’ve had over 100,000 check-ins to the facility, and members have recorded almost 10 million calories burned! Our team has done a tremendous job of providing a place that is ‘more than just a gym,’ and I think our community is better off because of it.”

    Later, Cassidy visited local leaders in Morgan City, including the Mayors of Morgan City and Franklin and the Executive Director of the Morgan City Harbor and Terminal District. He led a discussion on improving St. Mary Parish’s infrastructure, among other topics. Cassidy’s IIJA has delivered millions of dollars throughout the parish, including nearly $20 million to the U.S. Army Corps of Engineers in 2022 for construction, damage repairs, and levee surfacing replacements along the Atchafalaya Basin, and $10 million that October to expand the Port of Morgan City’s dock. Additionally, in a separate appropriation for Fiscal Year 2024, Cassidy secured $2.3 million to upgrade the emergency operations center at the port.

    Along with mayors and other officials, Cassidy met with Mr. Evan Boudreaux, Director of Economic Development, Policy and Government Affairs for the parish.
    “A critical factor in cultivating long-lasting economic growth in any community is having all of your partners come to the table to move the needle on addressing local challenges,” said Mr. Boudreaux. “Senator Cassidy is one of the best friends St. Mary Parish has. Without the leadership of Senator Cassidy on legislation such as the Bipartisan Infrastructure Law, St. Mary would not have been able to access or compete for funding to address some of our greatest hindrances to creating a more vibrant community.”

    MIL OSI USA News –

    January 24, 2025
  • MIL-OSI Economics: Money Market Operations as on October 17, 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) 556,222.72 6.29 0.01-6.50
         I. Call Money 8,226.89 6.43 5.10-6.50
         II. Triparty Repo 406,519.90 6.28 6.16-6.40
         III. Market Repo 140,522.93 6.31 0.01-6.50
         IV. Repo in Corporate Bond 953.00 6.41 6.39-6.50
    B. Term Segment      
         I. Notice Money** 122.10 6.30 6.10-6.45
         II. Term Money@@ 380.00 – 6.75-6.90
         III. Triparty Repo 231.00 6.45 6.35-6.45
         IV. Market Repo 98.04 6.55 6.55-6.55
         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          
         (b) Reverse Repo Thu, 17/10/2024 1 Fri, 18/10/2024 40,385.00 6.49
    3. MSF# Thu, 17/10/2024 1 Fri, 18/10/2024 5,717.00 6.75
    4. SDFΔ# Thu, 17/10/2024 1 Fri, 18/10/2024 82,925.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -117,593.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo Fri, 04/10/2024 14 Fri, 18/10/2024 44,275.00 6.49
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Mon, 14/10/2024 4 Fri, 18/10/2024 24,070.00 6.49
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    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, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,222.87  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -57,582.13  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -175,175.13  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on October 17, 2024 984,522.44  
         (ii) Average daily cash reserve requirement for the fortnight ending October 18, 2024 1,001,756.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 17, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on September 20, 2024 418,318.00  
    @ 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: 2024-2025/1328

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI Asia-Pac: SFST’s speech at HKQAA 35th Anniversary Forum (English only)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the HKQAA 35th Anniversary Forum today (October 18):

    Chairman Ho (Chairman of the Hong Kong Quality Assurance Agency, Mr Ho Chi-shing), distinguished guests, ladies and gentlemen,

         Good afternoon. It is my great pleasure to join you today as we celebrate the 35th anniversary of the Hong Kong Quality Assurance Agency (HKQAA). First, let me extend my warmest congratulations to the HKQAA on this remarkable milestone, and my sincere thanks for the invitation to speak at today’s forum.

         Today’s topic – Sustainable Finance, ESG, and Climate Resilience – could not be more timely or critical, as it highlights the directions we must take to secure the future of not just our economy and financial markets, but our society and planet. I would like to focus on Hong Kong’s role and achievements in this area, which I believe can be summed up by a three-A framework: accessibility to capital, availability of opportunity, and accountability to global standards.

    Accessibility to capital

         Sustainable finance is not just a passing trend. It represents a transformative movement, aligning financial systems with the larger goals of sustainable, inclusive growth. Hong Kong has embraced this vision, emerging as a leading international hub for green finance. In 2023 alone, the total issuance of green and sustainable debt in Hong Kong exceeded US$50 billion, including both bonds and loans, with green and sustainable bonds arranged here accounting for 37 per cent of all such bonds issued across Asia.

         This growing accessibility to green capital is not just about numbers. It shows that Hong Kong is well-positioned to channel investments into projects that positively impact the environment and society. We are actively working to expand our green investment product offerings and attract more international issuers to use Hong Kong’s green financing market.

         By June of this year, the Securities and Futures Commission had authorised over 230 ESG (environmental, social and governance) funds, with total assets under management exceeding HK$1.3 trillion. This represents year-on-year growth of 19 per cent in the number of funds and 8 per cent in assets under management. These investments are not only generating financial returns for investors but also contributing to the well-being of our communities, proving that profitability and purpose can indeed go hand in hand.

    Availability of opportunity

         As we look to the future, it is vital that we continue to unlock new investment opportunities and encourage innovation in green and sustainable finance. Collaboration across sectors – between government, businesses, and the community – is essential in driving this progress.

         One recent example of innovation is Core Climate, a marketplace launched by the Hong Kong Exchanges and Clearing Limited (HKEX) in 2022. Core Climate connects capital with climate-related products and opportunities across Hong Kong, Mainland China, Asia, and beyond. In August this year, the HKEX further enhanced this platform by introducing Gold Standard’s Verified Emission Reductions, offering users a seamless, integrated experience.

         Hong Kong has also demonstrated its leadership in combining the bond market, green finance, and fintech. In February this year, we successfully issued HK$6 billion worth of tokenised green bonds, denominated in multiple currencies – Hong Kong dollar, Renminbi, US dollar, and euro. This marks our second tokenised bond issuance, following the first in February 2022, and is the world’s first multi-currency digitally native green bond.

         The success of these initiatives reflects the strength of Hong Kong’s green fintech ecosystem, which continues to evolve. By leveraging new technologies, we can amplify efforts to support sustainable development, not only in our local community but across the entire region.

    Accountability to global standards

         As a global green finance hub, Hong Kong recognises the importance of maintaining accountability and transparency in sustainability efforts. This is why aligning with international standards, notably as the International Sustainability Standards Board (ISSB), is a key priority. We are committed to ensuring that our local sustainability disclosure requirements are aligned with the ISSB Standards, which will significantly enhance Hong Kong’s competitiveness in the global sustainable finance arena.

         By adopting these internationally recognised standards, we will strengthen our position as a trusted green finance hub while also improving the resilience of our local communities. This alignment will not only foster greater investor confidence but also ensure that our financial sector is well-equipped to meet the challenges of an increasingly sustainability-driven world.

    HKQAA’s contributions

         I would also like to take this opportunity to commend the HKQAA for its significant contributions to Hong Kong’s sustainable finance journey. Over the past 35 years, the HKQAA has been a steadfast partner, providing critical quality assurance and helping to uphold rigorous standards for green and sustainable finance. Since the launch of the Government Green Bond Programme in 2019, the HKQAA has played a pivotal role by providing external reviews for each bond issuance, ensuring the credibility and integrity of these instruments.

         In addition, the HKQAA has introduced a number of certification schemes, further enhancing stakeholder confidence in green finance products. Their dedication to upholding high standards has been instrumental in positioning Hong Kong as a global leader in this space. Looking ahead, we will continue to count on the HKQAA’s expertise as we strive to meet the evolving challenges of sustainable development.

    Conclusion

         In closing, I would like to emphasise that the future of finance is sustainable finance. As we work towards building a more resilient and sustainable future for Hong Kong and beyond, we must remain committed to the principles of ESG and climate resilience.

         Thank you for your attention and your unwavering commitment to sustainable development. Together, we can create a brighter, greener future for generations to come.

    MIL OSI Asia Pacific News –

    January 24, 2025
  • MIL-OSI USA News: FACT SHEET: The U.S.-Germany  Partnership

    Source: The White House

    On the occasion of President Joseph R. Biden Jr.’s visit to Germany, the United States reaffirms its commitment to deepening the close and historic bond between the two nations as Allies and friends.  For over 75 years, Germany has been a crucial partner in ensuring the stability, security, and prosperity of the transatlantic alliance.  In October 2023, President Biden welcomed President Steinmeier to Washington during German-American Day, underscoring the enduring people-to-people ties between our two countries, including the over 40 million Americans who claim German heritage and strengthen the diverse fabric of the United States.  In February 2024, President Biden welcomed Chancellor Olaf Scholz to the White House, where the two leaders reaffirmed their support for Ukraine’s defense against Russia’s war of aggression, discussed regional stability in the Middle East, and prepared for the NATO Summit in Washington.

    During his visit to Germany, President Biden will underscore our mutual commitment to upholding democracy, combating antisemitism and hatred, and expanding collaboration to promote economic growth and technological innovation.  In addition, he will express gratitude to Germany for its role in hosting approximately 39,000 U.S. service members and its vital contributions to the security of NATO and the broader transatlantic community. 

    The United States and Germany are partners in a wide range of new and continuing initiatives to address the most pressing challenges of our time, some of which are listed below.

    # # #

    SECURITY AND DEFENSE

    • The United States and Germany cooperate through several multilateral institutions including NATO, the G7, the OSCE, and the UN, to advance security, democracy, and the rule of law globally.
    • As host to the largest U.S. troop presence in Europe and second largest globally, Germany continues to play a critical role as a platform for U.S. military force projection, including support for NATO’s eastern flank and training for Ukrainian soldiers. 
    • Germany has been a key provider of military assistance to Ukraine in its defense against the Kremlin’s aggression.  Contributions include advanced weaponry such as Leopard 2 tanks, air defense systems (such as IRIS-T), artillery, and ammunition. Germany also supplies medical aid, vehicles, and training for Ukrainian forces, continuously adapting its support to Ukraine’s evolving needs in coordination with NATO allies.
    • As announced by President Biden and Chancellor Scholz on July 10, 2024, the United States looks forward to beginning the episodic deployments of its Multi-Domain Task Force in Germany in 2026, as part of planning for enduring stationing of these conventional long-range fire capabilities in the future.
    • Germany plays a key role in the U.S-Italy co-led G7+ Coordination Group for Ukraine Energy Security Support.  Germany has been a leading provider of financial assistance and critical components such as transformers and power generators to support the repair and strengthening of Ukraine’s energy sector in response to Russia’s continued brutal attacks on civilian infrastructure.
    • Germany is a robust partner in the fight against terrorism and terrorism financing, in the Financial Action Task Force, and as part of the Global Coalition to Defeat ISIS (D-ISIS).  On September 30, State Secretary Tobias Lindner joined Secretary Blinken for the D-Isis Ministerial Meeting in Washington, D.C. 
    • Germany will accede to Operation Olympic Defender, a U.S.-led multinational effort intended to strengthen nations’ abilities to deter hostile acts in space, strengthen deterrence against hostile actors, and reduce the spread of debris orbiting the earth. International partners currently include the UK, Canada, and Australia.

    DEFENDING DEMOCRACY

    • As the second-largest provider of assistance to Ukraine after the United States, Germany has provided $37.2 billion (€34 billion) in bilateral assistance since February 2022.  This includes humanitarian assistance, budgetary support, military equipment and training, and funding for Ukraine’s reconstruction.  Germany hosted an international reconstruction conference for Ukraine in Berlin in June 2024 which generated over €60 billion in commitments to Ukraine and emphasized the human dimension of post-war recovery.
    • At the September 2024 United Nations General Assembly, the United States, in partnership with Germany and other international allies, reaffirmed its commitment to supporting democratic transitions as part of the Democracy Delivers Initiative, launched by USAID.  The initiative mobilized over $517 million to provide financial and technical assistance to countries undergoing democratic renewal, including Guatemala, Armenia, and Moldova, with the aim of strengthening global democratic resilience.
    • Germany has increasingly recognized the importance of supporting Taiwan as a like-minded democratic partner.  Education Minister Stark-Watzinger’s visit to Taiwan in 2023 marked the first visit by a German minister to Taiwan in 26 years.  Two German warships recently transited the Taiwan Strait, a visible demonstration of Germany’s commitment to upholding international laws and norms and increasing engagement to maintain a free and open Indo-Pacific region.
    • Germany was one of the first of twenty-one countries to endorse the U.S. government’s Framework to Counter Foreign State Information Manipulation, the U.S. Department of State’s key initiative to galvanize like-minded democracies to respond collectively to the threat posed by disinformation.  

    ECONOMICS & TRADE

    • Germany is the United States’ largest trading partner in Europe, with bilateral trade reaching over $324 billion in goods and services in 2023.  U.S. direct investment in Germany was $193.2 billion in 2023.  In total, German firms employ an estimated 923,600 people in the United States.  Germany is the fourth-largest source of foreign direct investment in the United States and the number one foreign investor in U.S. renewable energy projects.  Germany is currently the third-largest source of foreign direct investment in the United States, with investments worth more than $660 billion based on 2023 data.
    • On September 24, 2024, the United States and Germany held the third round of the U.S.-Germany Economic Dialogue, building on the framework established in the 2021 Washington Declaration.  The talks focused on strengthening collaboration to increase economic security, including cooperation in sectors such as digital technologies and clean energy supply chains.  Both countries committed to enhancing supply chain resilience and advancing sustainability goals.
    • Germany and the United States partner on several initiatives to advance women’s economic security around the world, including bolstering women’s participation in climate sectors through the Women in the Sustainable Economy Initiative, closing the gender digital divide through the Women in the Digital Economy Initiative, and supporting women to join the workforce by investing in efforts to close the global childcare gap through the Invest in Childcare Initiative.

    COMBATTING ANTISEMITISM:

    •  Germany is a global leader and vital partner in the fight against antisemitism and extremism.  Senior officials are unequivocal in condemning antisemitism and federal and state governments have robust strategies for tackling the problem.  In July 2024, Germany co-launched the Global Guidelines for Countering Antisemitism in Buenos Aires, an initiative led by U.S. Special Envoy Deborah Lipstadt.
    • Launched in 2021, The U.S.-Germany Dialogue on Holocaust Issues, plays an essential role in combatting Holocaust distortion online and promoting accurate Holocaust education and commemoration.
    • Germany and the United States cooperate on improving resolution to Nazi-confiscated art to ensure just and fair solutions for survivors and heirs, and salute Germany’s new art restitution policy.

    EDUCATIONAL EXCHANGES

    • The German-American Fulbright program is one of the largest and most varied of the Fulbright Programs worldwide, sponsoring over 40,000 Germans and Americans since its inception in 1952.
    • Established in 2016 as a public-private partnership, each year the USA For You program brings youth from underserved German communities to the United States for a two-week homestay and community service experience.  The program promotes civic engagement and helps counter extremism and xenophobia by fostering cultural understanding.  In 2023, the German government launched a reciprocal Germany for You program, allowing American high school students to visit Germany for a similar exchange, further strengthening transatlantic ties.
    • The Congress-Bundestag Youth Exchange (CBYX), jointly funded by the United States and German governments, supports the transatlantic relationship by fostering year-long academic, homestay, and community service opportunities for 700 American and German youth annually.  Since 1983, CBYX has promoted cross-cultural understanding, professional skills, and mutual awareness of each nation’s history, politics, and society.  With around 15,000 German and 14,000 American participants to date, the program strengthens ties and deepens the transatlantic partnership between the next generation of leaders.
    • The German Bundestag-Bundesrat exchange (CBBSX) program is an annual two-way exchange between German Bundestag and Bundesrat staff and U.S. Congressional staff members.  It was initiated during the 1983 German-American Tricentennial celebration and first implemented in 1984.  Participants focus on the U.S. legislative process and U.S.-German relations; examining U.S. Congress and the U.S. political system.  In 2024 the IVLP brought 10 German Bundestag and Bundesrat staff members to the United States.  For the first time, CBBSX participants also engaged with state and local government.

    SCIENCE, ENVIRONMENT, SPACE, & TECHNOLOGY

    • On January 10, 2024, the United States and Germany held a U.S.-Germany Critical and Emerging Technology Track 1.5 Dialogue to share strategic objectives, outlooks, and lessons learned in technological innovation. The two countries agreed to convene the first of an ongoing AI Dialogue to discuss approaches to AI governance, infrastructure and innovation, and applications of AI for good. They intend to hold the first session of this dialogue in early 2025.
    • Furthering their commitment to monitoring the effects of climate change, the United States and Germany have partnered on space collaboration through NASA’s Gravity Recovery and Climate Experiment Follow-On (GRACE-FO) mission, which monitors Earth’s water movement by tracking shifts in gravity.  This mission provides critical data for managing water resources, monitoring sea levels, and understanding climate change impacts on a global scale.
    • The U.S.-Germany scientific partnership was further strengthened throughfunding from the U.S. National Science Foundation (NSF) and Germany’s Federal Ministry of Education and Research (BMBF) for Collaborative Research in Computational Neuroscience (CRCNS) program, which advances cutting-edge research in brain function and computational neuroscience.  This initiative supports interdisciplinary approaches to understanding neural systems.
    • On September 14, 2023, the United States and Germany held the inaugural U.S.-Germany Space Dialogue, advancing collaboration in space exploration, satellite technology, and space security.  This dialogue promotes joint efforts in planetary science, climate monitoring, and managing space debris, while advancing international norms for responsible space operations.

    CLIMATE & ENERGY

    • In July 2021, the United States and Germany launched the U.S.-Germany Climate and Energy Partnership to deepen collaboration on the policies and sustainable technologies needed to accelerate the global net-zero future.  Notable outcomes of the Partnership include the first U.S.-Germany Climate and Energy Summit held in Pittsburgh September 2022, and the U.S.-German Clean Hydrogen Conference held in Berlin October 2023.
    • Beyond our strong bilateral partnership, the United States and Germany are also intensifying our cooperation to accelerate the clean energy transition and promote clean economic growth in emerging and developing economies.  This includes leveraging and scaling-up our collective technical, policy, and financial support to catalyze investments in clean energy manufacturing and industrial decarbonization in developing countries, leveraging key international platforms such as the Climate Club and Clean Technology Fund.

    GLOBAL DEVELOPMENT

    • The United States participated in the International Humanitarian Conference on Sudan, hosted by France, Germany, and the European Commission on April 15, 2024, to address the vital need for greater humanitarian assistance for the Sudanese people.
    • The U.S. Agency for International Development (USAID) and Germany’s Ministry for Economic Cooperation and Development (BMZ) are strengthening their partnership through a Strategic Development Dialogue.  This initiative focuses on joint efforts to tackle global challenges in climate change, food security, gender equality, health, and G7 development priorities.
    • The United States and Germany have worked closely across multiple presidencies of the G7 Food Security Working Group to support efforts to achieve long-term food and nutrition security.  As most recently affirmed in the Apulia G7 Leaders’ Communiqué, both countries have committed to promoting and supporting multi-stakeholder programs to build climate resilience in our food systems.  These programs include the Vision for Adapted Crops and Soils, launched by the United States in partnership with the African Union and Food and Agriculture Organization of the United Nations.

    ###

    MIL OSI USA News –

    January 24, 2025
  • MIL-Evening Report: Hamas leader Yahya Sinwar’s death is a defining moment, but it will not end the war

    Source: The Conversation (Au and NZ) – By Ian Parmeter, Research scholar, Middle East studies, Australian National University

    The death of Hamas leader Yahya Sinwar, one of the masterminds behind the group’s horrific October 7 2023 attack on southern Israel, is no doubt a consequential moment in Israel’s year-long war against Hamas.

    But is it a turning point?

    Israeli Prime Minister Benjamin Netanyahu said Sinwar’s killing – long a major objective of the Israel Defense Forces (IDF) – would signal the “beginning of the end” of the war. But he made clear the war is not over.

    In fact, Benny Gantz, a former defence minister and member of the war cabinet, said the IDF would continue to operate in Gaza “for years to come”.

    So, what exactly will be the impact of Sinwar’s death?

    Does this change anything?

    Sinwar’s death does change at least one aspect of the war. He was an iconic figure, for better or worse, for Palestinians. He was seen as someone who was taking the fight to Israel.

    With Sinwar still alive and Hamas hitting back at Israel’s war in Gaza, the group was actually increasing in popularity.

    Opinion polling in late May showed support for Hamas among Palestinians in the Occupied Territories had reached 40%, a six-point increase from three months earlier. Support for the Palestinian Authority, which controls the West Bank, was about half that.

    Sinwar’s demise changes the face of Hamas. It could be a major turning point if Hamas is unable to replace him with a leader as strong as he was.

    One of the names being discussed is Khaled Mashal, the former head of Hamas’ political office who still remains influential in the organisation.

    This moment offers an opportunity for a new Hamas leader to seek a ceasefire with Israel and an end to the horrific conditions in which Gazans are living. But there’s still the question of whether Sinwar’s death achieves Israel’s war objectives.

    What would constitute a victory for Netanyahu?

    The main issue is that Netanyahu’s war aims have not yet been achieved:

    • the elimination of Hamas as a fighting force and a danger to Israel

    • the freeing of the roughly 100 Israeli hostages still believed to be held in Gaza, as many as half of whom may now be dead

    • the re-establishment of deterrence with Hezbollah in Lebanon to allow the 60,000 Israelis who have been evacuated from northern Israel to return home.

    Although the killing of Sinwar is a major step towards restricting Hamas’ ability to maintain its war against the IDF in Gaza, Israeli soldiers still face some very significant problems there.

    Over the past year, Hamas has morphed from an organised fighting force into guerrilla mode, which makes its fighters much more difficult to eliminate completely.

    The classic methodology for dealing with a guerrilla force is “clear, hold and build”. This means you clear an area of the enemy, put troops in to hold the area, and then build an environment in which the enemy can’t re-establish itself.

    Israel can certainly do the “clearing” and “holding”, but has not been able to build an environment in which Hamas can no longer operate.

    Israeli journalists who have been embedded with Israeli forces have made the point that Hamas operatives are returning to areas that were previously cleared by the IDF, in part due to the group’s extensive tunnel network.

    Other complications for Netanyahu

    Another issue for Netanyahu is that right-wing members of his cabinet have threatened to resign from his governing coalition if he agrees to a ceasefire before Hamas is destroyed as a fighting force. They believe Hamas could use a ceasefire to regroup and re-establish itself as a serious threat to Israel.

    At the same time, Netanyahu is also facing increasing pressure over the fate of the hostages. If there isn’t a ceasefire and negotiations to release them, their families and supporters will continue the large demonstrations they have been staging in Israel in recent months. They are desperate to get back any hostages who may still be alive and the remains of those who have died.

    Netanyahu is also still weighing Israel’s promised retaliation against Iran for its missile attack against the Jewish state in early October.

    If Israel does launch a major strike, what does Iran do in response? Iran’s problem is that it had always relied on a strong Hezbollah in Lebanon to be able to respond to Israel militarily on its behalf. And now it seems to have lost that as Hezbollah has been significantly weakened in recent weeks.

    The US sees a potential off-ramp

    Another aspect, of course, is where the United States stands on this. The US has made clear it sees Sinwar’s death as being an off-ramp for Israel in Gaza – it can claim a major strategic victory and essentially agree to a ceasefire.

    In recent weeks, the US has also given Israel an ultimatum, saying if there isn’t an improvement in the amount of humanitarian aid going into Gaza by the end of November, it will cut off some military aid to Israel.

    The Democrats want the war to end as soon as possible, because while it’s on the front pages of US newspapers, it divides the party and could encourage some voters not to come out and vote in the presidential election.

    So it’s very important for the Democratic candidate, Vice President Kamala Harris, that there be a ceasefire as soon as possible. She said as much in her remarks today:

    Hamas is decimated and its leadership is eliminated. This moment gives us an opportunity to finally end the war in Gaza.

    The problem, however, is that Netanyahu has shown in the past he is prepared to go against US wishes whenever it suits him. And a ceasefire does not suit his purposes at this point.

    Given Republican nominee Donald Trump’s steadfast support for Netanyahu, the Israeli leader would also be more than happy to see him return to the White House.

    What’s most likely to happen

    Taking all of these factors into account, Netanyahu is likely to prioritise keeping his government together.

    As such, he will be more guided by its very right-wing members – Finance Minister Bezalel Smotrich and National Security Minister Itamar Ben Gvir – than by the US or the families of the hostages.

    AFter Sinwar’s death, Smotrich said the IDF “must increase intense military pressure in the Strip”, while Ben Gvir called on Israel to “continue with all our strength until absolute victory”.

    So at this stage, it seems likely the war will continue until Netanyahu can say Hamas has been destroyed as a fighting force. That is what his cabinet is demanding to achieve the government’s war aims.

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

    – ref. Hamas leader Yahya Sinwar’s death is a defining moment, but it will not end the war – https://theconversation.com/hamas-leader-yahya-sinwars-death-is-a-defining-moment-but-it-will-not-end-the-war-241666

    MIL OSI Analysis – EveningReport.nz –

    January 24, 2025
  • MIL-Evening Report: Could a recent ruling change the game for scam victims? Here’s why the banks will be watching closely

    Source: The Conversation (Au and NZ) – By Jeannie Marie Paterson, Professor of Law, The University of Melbourne

    Meteoritka/Shutterstock

    In Australia, it’s scam victims who foot the bill for the overwhelming majority of the money lost to scams each year.

    A 2023 review by the Australian Securities and Investment Commission (ASIC) found banks detected and stopped only a small proportion of scams. The total amount banks paid in compensation paled in comparison to total losses.

    So, it was a strong statement this week when it was revealed the Australian Financial Conduct Authority (AFCA) had ordered a bank – HSBC – to compensate a customer who lost more than $47,000 through a sophisticated bank impersonation or “spoofing” scam.

    This decision was significant. An AFCA determination is binding on the relevant bank or other financial institution, which has no direct right of appeal. It could have implications for the way similar cases are treated in future.

    The ruling comes amid a broader push for sector-wide reforms to give banks more responsibility for detecting, deterring and responding to scams, as opposed to simply telling customers to be “more careful”.

    Here’s what you should know about this landmark ruling, and what it might mean for consumers.




    Read more:
    Australia’s new scam prevention draft is welcome – but it needs to be broader in scope


    A highly sophisticated ‘spoofing’ scam

    You might be familiar with “push payment” scams that trick the victim into paying money to a dummy account. These include the “mum I’ve lost my phone” scam and some romance scams.

    The recent case concerned an equally noxious “bank impersonation” or “spoofing” scam. The complainant – referred to as “Mr T” – was tricked into giving the scammer access to his HSBC account, from which an unauthorised payment was made.

    The victim was duped into providing passcodes to access his online banking account.
    tsingha25/Shutterstock

    The scammer sent Mr T a text message, purportedly asking him to investigate an attempted Amazon transaction.

    In an effort to respond to the (fake) unauthorised Amazon purchase, Mr T revealed security passcodes to the scammer, enabling them to transfer $47,178.54 from his account and disappear with it.

    The fact Mr T was dealing with scammers was far from obvious – scammers had information about him one might reasonably expect only a bank would know, such as his bank username.

    On top of this, the scam text message appeared in a thread of other legitimate text messages that had previously been sent by the real HSBC.

    AFCA’s ruling

    HSBC argued to AFCA that having to pay compensation should be ruled out under the ePayments Code, a voluntary code of practice administered by ASIC.

    Under this code, a bank is not required to compensate a customer for an unauthorised payment if that customer has disclosed their passcode. The bank argued the complainant had voluntarily disclosed these codes to the scammer, meaning the bank didn’t need to pay.

    AFCA disagreed. It noted the very way the scam had worked was by creating a sense of urgency and crisis. AFCA considered that the complainant had been manipulated into disclosing the passcodes and had not acted voluntarily.

    AFCA awarded compensation covering the vast majority of the disputed transaction amount, lost interest charged to a home loan account, and $5,000 towards Mr T’s legal costs.

    It also ordered the bank to pay compensation of $1,000 for poor customer service in dealing with the matter, including communication delays.

    Other cases may be more complex

    In this case, the determination was relatively straightforward. It found Mr T had not voluntarily disclosed his account information, so was not excluded from being compensated under the ePayments Code.

    However, many payment scams fall outside the ePayments Code because they involve the customer directly sending money to the scammer (as opposed to the scammer accessing the customer’s account). That means there is no code to direct compensation.

    Still, AFCA’s jurisdiction is broader than merely applying a code. In considering compensation for scam losses, AFCA must consider what is “fair in all the circumstances”. This means taking into account:

    • legal principles
    • applicable industry codes
    • good industry practice
    • previous AFCA decisions.

    Relevant factors might well include whether the bank was proactive in responding to known scams, as well as the challenges for individual customers in identifying scams.

    Broader reforms are on the way

    At the heart of this determination by AFCA is a recognition that, increasingly, detecting sophisticated scams can be next to impossible for customers, which can mean they don’t act voluntarily in making payments to scammers.

    Similar reasoning has informed a range of recent reform initiatives that put more responsibility for detecting and responding to scams on the banks, rather than their customers.

    In 2023, Australia’s banking sector committed to a new “Scam-Safe Accord”. This is a commitment to implement new measures to protect customers, including a confirmation of payee service, delays for new payments, and biometric identity checks for new accounts.

    Tech platforms – including social media giants – would have to take more proactive steps against scams under proposed new legislation.
    Primakov/Shutterstock

    Changes on the horizon could be more ambitious and significant.

    The proposed Scams Prevention Framework legislation would require Australian banks, telcos and digital platforms to take reasonable steps to prevent, detect, report, disrupt and respond to scams.

    It would also include a compulsory external dispute resolution process, like AFCA’s, for consumers seeking compensation for when any of these institutions fail to comply.

    Addressing scams is not just an Australian issue. In the United Kingdom, newly introduced rules make paying and receiving banks responsible for compensating customers, for scam losses up to £85,000 (A$165,136), unless the customer is grossly negligent.

    Jeannie Marie Paterson has previously received funding from the Australian Research Council and conducted research for ASIC and AFCA. She is currently working on a project on AFCA determinations with Dr Nicola Howell and Evgenia Bourova. The scams research has been assisted by Andrew Lim.

    Nicola Howell has previously conducted funded research for ASIC and is currently working on a project on AFCA determinations with Professor Jeannie Paterson and Evgenia Bourova. Nicola is affiliated with the Consumers’ Federation of Australia, as a member of the CFA Executive.

    – ref. Could a recent ruling change the game for scam victims? Here’s why the banks will be watching closely – https://theconversation.com/could-a-recent-ruling-change-the-game-for-scam-victims-heres-why-the-banks-will-be-watching-closely-241558

    MIL OSI Analysis – EveningReport.nz –

    January 24, 2025
  • MIL-OSI: Nokia announces changes to its Group Leadership Team

    Source: GlobeNewswire (MIL-OSI)

    Nokia Corporation
    Stock Exchange Release
    18 October 2024 at 08:00 EEST

    Nokia announces changes to its Group Leadership Team

    • Nokia has decided to divide its Corporate Affairs function into two separate functions: Geopolitics and Government Relations; and Communications.
    • Finland’s former Ambassador to the U.S. Mikko Hautala will join Nokia as Chief Geopolitical and Government Relations Officer, and he will become a member of the Group Leadership Team.
    • Louise Fisk has been promoted to Chief Communications Officer and will become a member of the Group Leadership Team.
    • Melissa Schoeb, Chief Corporate Affairs Officer, has decided to leave the company and will step down from the Group Leadership Team.
    • Jenni Lukander, President of Nokia Technologies business group, has decided to leave the company and will step down from the Group Leadership Team.

    Espoo, Finland – Nokia today announced changes to its Group Leadership Team. Its Corporate Affairs function, which is responsible for protecting and enhancing Nokia’s reputation, will be divided into two parts: Geopolitics and Government Relations; and Communications. Former Finland ambassador to the U.S. Mikko Hautala has been appointed Chief Geopolitical and Government Relations Officer and member of the Group Leadership Team, effective November 1, 2024. Louise Fisk has been promoted to Chief Communications Officer, and member of the Group Leadership Team, effective immediately. Chief Corporate Affairs Officer, Melissa Schoeb, has decided to leave the company, effective December 31, 2024, and step down from the Group Leadership Team immediately.

    In addition, President of Nokia Technologies, Jenni Lukander, has decided to leave the company, effective December 31, 2024, and will step down from the Group Leadership Team immediately. Patrik Hammaren, who is currently Chief Licensing Officer, Wireless Technologies, will assume an interim role leading Nokia Technologies and will be a member of the Group Leadership Team as the search commences for Lukander’s successor.

    “Jenni has been a valued member of the Group Leadership Team and played a crucial role in securing the long-term stability of our Technologies business, building a solid foundation for the future. The business group will now move into the next phase of its growth journey. I’m grateful for Jenni’s contribution to Nokia over the past 17 years and for her support during the upcoming transition. I wish her all the best for the next chapter of her career,” said Pekka Lundmark, President and CEO of Nokia.

    As the impact geopolitics has on Nokia’s business continues to grow, the company has taken the decision to establish the new role of Chief Geopolitical and Government Relations Officer. Mikko Hautala has been appointed to this role and will be based in Espoo, Finland, reporting to Pekka Lundmark.

    Hautala is a highly respected diplomat with over two decades of government experience in prominent roles across the world. He served as Finland’s ambassador to the United States between 2020 and 2024. Prior to that, he was the Ambassador of Finland to Russia between 2016 and 2020, and has held a range of government roles, including foreign policy advisor to Finland’s former President Sauli Niinistö.

    “Mikko’s vast experience, excellent networks and deep understanding of international diplomacy will be hugely valuable to Nokia as geopolitical factors and government policies increasingly shape our operating environment. I’m excited to welcome Mikko to the Nokia team and believe his unique strategic perspective will help strengthen our positioning in our key markets,” said Lundmark.

    “I am extremely delighted to join Nokia’s leadership team at the moment when geopolitical and strategic considerations matter more than ever. Navigating the right path under these conditions is demanding, but offers great potential for sustainable business growth,” said Hautala.

    As Nokia continues to strengthen its position and expand into new markets, the company has promoted Louise Fisk to Chief Communications Officer. She will continue to be based in London, U.K. and report to Pekka Lundmark. Fisk’s previous role at Nokia was VP, Corporate Affairs Programs & Corporate Communications. Before joining Nokia, she worked in a number of senior leadership roles, including BAE Systems Applied Intelligence and Logica.

    “I’m pleased to welcome Louise to our leadership team where she will further strengthen our strategic communications and brand positioning. Louise has already proven her ability to protect and enhance Nokia’s reputation and I look forward to her further developing our strategic positioning. I would also like to thank Melissa for her contribution, not least for delivering our brand refresh in 2023 to reposition Nokia as who we are today: a B2B technology innovation leader. I wish her all the best in her future endeavors,” said Lundmark.

    In the new setup, Nokia’s Sustainability team, previously part of the Corporate Affairs function, will report to Chief Legal Officer, Esa Niinimäki, with immediate effect.

    About Mikko Hautala:

    Born: 1972

    Nationality: Finnish

    Education:

    • Master of Social Sciences (Political history), University of Helsinki
    • Master of Philosophy (Slavic languages), University of Helsinki

    Experience:

    • 2020–2024        Ambassador, Head of Mission, Embassy of Finland, Washington DC 2016–2020        Ambassador, Head of Mission, Embassy of Finland, Moscow
    • 2012–2016        Foreign Policy Adviser to the President, Office of the President of the Republic of Finland, Helsinki
    • 2011–2012        Minister, Deputy Head of Mission, Embassy of Finland, Moscow
    • 2007–2011        Diplomatic Adviser to the Minister of Foreign Affairs, Ministry for Foreign Affairs, Helsinki
    • 2002–2007        First Secretary, Permanent Representation of Finland to the EU, Brussels
    • 2001–2002        Attaché, Ministry for Foreign Affairs, Helsinki 1999–2001        Attaché, Embassy of Finland, Kyiv
    • 1998–1999        Visa Officer, Embassy of Finland, Kyiv
    • 1998        Market Analyst, Kazakhstan, Oy Sinebrychoff Ab, Helsinki
    • 1997        Trainee, Embassy of Finland, Kyiv

    Additional positions:

    • Board Member Support for Finnish Society (SYT) foundation.
    • Chairman John Morton Center for North American Studies Board. University of Turku.

    About Louise Fisk:

    Born: 1976

    Nationality: British

    Education:

    • Advanced executive leadership development, DUKE University.
    • Advanced global leadership, INSEAD business school
    • Post graduate diploma in PR & Journalism, University of Wales, College of Cardiff
    • BA Hons in Communication, University of Wales, College of Cardiff

    Experience:

    • 2020-2024 Vice President, Corporate Affairs Programs & Corporate Communications, Nokia.
    • 2015-2019 Global leadership team, Communications and Marketing Director, BAE Systems Applied Intelligence.
    • 2012-2015 Head of Global Communications, Investor Relations and Marketing, Innovation Group.
    • 2006-2012 Global PR Director & Deputy Communications Director, Logica.
    • 1999-2006 Partner & Associate Director, LEWIS Communications.

    Additional positions:

    • Trustee of the Williams Syndrome Foundation

    About Nokia

    At Nokia, we create technology that helps the world act together.

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

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

    Inquiries:

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

    Nokia
    Investor Relations
    Phone: +358 40 803 4080
    Email: investor.relations@nokia.com

    The MIL Network –

    January 24, 2025
  • MIL-OSI Asia-Pac: Speech by SITI at InnoTech Forum 2024 (English only) (with photo)

    Source: Hong Kong Government special administrative region

         Following is the speech by the Secretary for Innovation, Technology and Industry, Professor Sun Dong, at the InnoTech Forum 2024 today (October 18):
     
    Alpha (Director-General of Investment Promotion, Ms Alpha Lau), distinguished guests, ladies and gentlemen,
     
         Good morning. It is my great pleasure to join you all today at the InnoTech Forum 2024 organised by InvestHK. Themed “Pioneering in the Artificial Intelligence (AI) and New Energy Era”, this full-day forum brings together experts from diverse fields to explore how Hong Kong can establish itself as a global leader in innovation and technology (I&T).
     
         Technological empowerment is the cornerstone of achieving high-quality economic development. It accelerates the emergence of new quality productive forces and enables industries to adapt and thrive in the increasingly competitive local, regional and global arenas. As we navigate in this new era, we must harness technology not just for individual success or lucrative business, but for collective growth that benefits our society. 
     
         Just two days ago, our Chief Executive unveiled a range of initiatives in his third Policy Address, reinforcing Hong Kong’s commitment to becoming an international I&T centre. This year’s theme, “Reform for Enhancing Development and Building Our Future Together”, emphasises the importance of collective growth. That means your success is our success, and together we can scale new heights and build a brighter future for Hong Kong.
     
         AI, as this year’s forum highlights, remains a key driver of I&T and business development. To support enterprises like yours in leveraging AI technologies, the Government has invested billions of dollars in cultivating an all-round AI ecosystem here in Hong Kong. I would like to take this opportunity to share with you some of the exciting developments that are under way.
     
         Talking about AI development, computation facility is pivotal. Cyberport will soon put into operation its AI Supercomputing Centre (AISC) to support the strong computing demand from universities, research institutes and the industry. With its first-phase facility capable of providing at least 300 petaFLOPS and in a year or so, the computing power will be augmented to a level of 3 000 petaFLOPS; the AISC will offer top-notch, high-performance computing facilities and serve as a collaborative platform to foster AI-driven research and innovation. Apart from Cyberport, the Hong Kong Science and Technology Parks Corporation has officially launched the High-Performance Computing service last month, which is expected to support the growth of around 300 companies working on AI and data technology in Science Park’s ecosystem.
     
         To support the commissioning of the AISC, the Government has allocated $3 billion to launch a three-year AI Subsidy Scheme. This significant sum is aimed at subsidising eligible users of the AISC to leverage the computing power, by offering a subsidy of up to 70 per cent of the list price of the computing power or 90 per cent in exceptional cases. Cyberport has also been tasked to promote the AI ecosystem and enable AI enterprises and talent to land in Hong Kong through the scheme. I encourage you to tap into our latest technology infrastructure at Cyberport, where we hope to see even more scientific breakthroughs.
     
         AI has taken the world by storm, revolutionising not only industries but also the Government. The provision of public services must harness this powerful technology. The Policy Address announced that the Government will pilot the use of a generative AI document processing copilot application, developed on the basis of a locally trained large language model, within the Government to assist staff in writing, translating and summarising documents. This trial run will also lend support to Hong Kong’s exploration in generative AI technologies and enrich the use cases for better, accurate and localised outcomes.
     
         In fact, a number of the hundred digital government and smart city initiatives that the Government presses ahead for rollout this year and next will make use of AI technology. For instance, we have expanded the AI chatbot service for the 1823 enquiry service, making it much more adept at handling the public’s frequently asked questions within its scope of service. This improves user experience and allows our staff to focus on other complex tasks, thereby lifting the overall service quality. The judicious application of AI in the Government will advance our digital government and smart city development, benefitting both the people and businesses of Hong Kong, and bringing them closer to the fruition of I&T development. 
     
         Ladies and gentleman, Hong Kong stands on the cusp of making ground-breaking strides by capitalising on the vast potential of AI and other cutting-edge technologies. We are partners in this journey to seize the opportunities that lie ahead. So let’s invest in technology, invest in innovation, and invest in Hong Kong. Together, we can push the boundaries of what is possible to make Hong Kong a truly international I&T centre. 
     
         In closing, I would like to thank InvestHK for making this happen, and I hope you would leave this forum with mind-blowing takeaways. Thank you.   

    MIL OSI Asia Pacific News –

    January 24, 2025
  • MIL-OSI Russia: Financial experts tell how to best fight fraudsters

    MILES AXLE Translation. Region: Russian Federation –

    Source: Novosibirsk State University – Novosibirsk State University –

    Faculty of Economics, Novosibirsk State University held a “Financial Literacy Day,” during which five representatives of banks and consulting companies shared their experience in combating fraudsters.

    This topic is relevant for students not only because today the victims of telephone scammers are very different people. The faculty trains future economists, so it is important that they are also prepared in the field of fraud prevention, since the price of a mistake by a bank employee, broker or expert of a consulting agency can be very high.

    — I think the event was a success, the lectures were very diverse and informative. I judge by the fact that I myself heard a lot of new things. I think we will continue to hold such events in the future, — noted Deputy Dean of the NSU Faculty of Economics Naimdzhon Ibragimov.

    — The Faculty of Economics, including student clubs, often organize thematic meetings for students. The issue of financial literacy and the topic of fraud are relevant now. Despite the fact that the problem of fraud is not new, the number of deceived people remains significant. And this can be due to different factors, of which I would highlight two: the first is that modern technologies are used not only by honest people, the second is that there are features of the psychology of perception of information that fraudsters know and use. These issues need to be discussed. This can be useful for young people, — said Svetlana Bekareva, head of the Department of Finance and Credit of the Faculty of Economics of NSU.

    In their speeches, the experts touched on various aspects of the financial security problem. Sberbank representatives shared advice on how to protect yourself from fraudsters and told in more detail about the principles on which Sber’s ecosystem is built (which has long included not only the banking infrastructure itself).

    Yulia Krasnova, head of the Novosibirsk branch of the large audit company DRT, described the methods used by fraudsters to increase the attractiveness of their reporting for investors.

    The head of the Siberian regional center Kept Leonid Kozlenko, using specific examples, revealed the mechanisms for combating fraud that modern businesses use.

    — I really liked the concept of this event, so we gladly responded to the invitation. We generally really like communicating with students, so our company has many different joint projects with the NSU Faculty of Economics. Their subject matter is much broader than financial security issues, they relate to both training and smooth introduction to the profession of future graduates, — Leonid Kozlenko emphasized.

    The speech by the director of the SFM company, PhD in economics Andrey Bekarev was devoted to the psychology of fraud. Using examples from the documentary, she showed how one can manipulate a person’s opinion quite strongly, and this influence remains unnoticed by him. And as a result, he perceives other people’s assessments, views as his own and makes decisions on their basis that are beneficial to the manipulator.

    — Modern propaganda and marketing technologies influence us much more than we are used to thinking. And this is often used for nefarious purposes, like the same scammers we have been talking about all day today. I would like to draw attention to this with my lecture. I hope this will help you maintain independent thinking and reduce the risks of becoming a victim of someone else’s manipulation, — Andrey Bekarev addressed his listeners.

    Financial Literacy Day attracted the interest of students from various fields of study. Some of the students have been participating in the events of the Faculty of Economics for several years now, and began to get involved in the topic of finances back in school.

    — Last year I attended the Financier’s Day, which was held by the Financial Club and the Faculty of Economics. I was not yet a student of the Faculty of Economics at that time and I really liked the interesting and useful lectures and, of course, the competitions. Today’s event is smaller in scale than the Financier’s Day, but the idea is about the same. I was the host of the game part in the question-and-answer format. It is interesting that people from different fields took part in them, for example, historians and journalists, — shared Mikhail Muravyov, a first-year student of the Faculty of Economics, the Jurisprudence field.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://vvv.nsu.ru/n/media/nevs/education/experts-in-the-finance-tell-how-best-to-deal-with-scammers-/

    MIL OSI Russia News –

    January 24, 2025
  • MIL-OSI: Sampo plc’s share buybacks 17 October 2024

    Source: GlobeNewswire (MIL-OSI)

    Sampo plc, stock exchange release, 18 October 2024 at 8:30 am EEST

    Sampo plc’s share buybacks 17 October 2024

    On 17 October 2024, Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI4000552500) as follows:                

    Sampo plc’s share buybacks Aggregated daily volume (in number of shares) Daily weighted average price of the purchased shares* Market (MIC Code)
      4,168 41.68 AQEU        
      36,033 41.69 CEUX
      412 41.69 TQEX
      49,202 41.68 XHEL
    TOTAL 89,815 41.69  

    *rounded to two decimals                

    On 17 June 2024, Sampo announced a share buyback programme of up to a maximum of EUR 400 million in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. On 16 September 2024, the Board of Directors of Sampo plc resolved to increase the share buyback programme to EUR 475 million. The programme, which started on 18 June 2024, is based on the authorisation granted by Sampo’s Annual General Meeting on 25 April 2024.

    After the disclosed transactions, the company owns in total 8,862,408 Sampo A shares representing 1.61 per cent of the total number of shares in Sampo plc, taking the issuance of shares on 16 September 2024 into account.

    Details of each transaction are included as an appendix of this announcement.

    On behalf of Sampo plc,
    Morgan Stanley

    For further information, please contact:

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

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

    Attachment

    • Sampo_share_buyback_17_10_2024

    The MIL Network –

    January 24, 2025
  • MIL-OSI: Azerion publication date of Q3 2024 results set for 19 November 2024

    Source: GlobeNewswire (MIL-OSI)

    Amsterdam, 18 October 2024 – Azerion, one of Europe’s largest digital advertising and entertainment media platforms, announces the adjustment of its upcoming Q3 interim unaudited financial reporting date to 19 November 2024, ten days earlier than the previously scheduled 28 November 2024. Over the past year, integration and consolidation efforts have helped Azerion mature as a publicly listed company, resulting in improved reporting efficiencies. These enhancements support Azerion’s growth and commitment to timely reporting while enabling it to capture opportunities faster and expand its market share.

    Future reporting dates:

    Q3 2024 Q4 and FY 2024 Q1 2025 Q2 2025 Q3 2025
    19 November 2024 27 February 2025 28 May 2025 28 August 2025 18 November 2025

    About Azerion
    Founded in 2014, Azerion (EURONEXT: AZRN) is one of Europe’s largest digital advertising and entertainment media platforms. Azerion brings global scaled audiences to advertisers in an easy and cost-effective way, delivered through our proprietary technology, in a safe, engaging, and high quality environment, utilizing our strategic portfolio of owned and operated content with entertainment and other digital publishing partners.

    Having its roots in Europe and with its headquarters in Amsterdam, Azerion has commercial teams based in over 22 cities around the world to closely support our clients and partners to find and execute creative ways to make a real impact through advertising.

    For more information visit: http://www.azerion.com

    Contact
    Investor Relations: ir@azerion.com
    Media: press@azerion.com

    The MIL Network –

    January 24, 2025
  • MIL-OSI: Awilco Drilling Plc: New Sponsored Norwegian Depository Receipts (SNDRs) issued

    Source: GlobeNewswire (MIL-OSI)

    Reference is made to the stock exchange notices from Awilco Drilling PLC (“Awilco Drilling” or the “Company”) on 1 October and 10 October regarding the issuing of 10,136,819 new Sponsored Norwegian Depository Receipts (SNDRs) based on the exercising of 10,136,819 warrants at a subscription price of NOK 1 per SNDR (the “Private Placement”) and the corresponding issuance of new shares.

    On 17 October 2024, the 10,136,819 new shares were legally and validly issued. Following the issuance of the new shares, Awilco Drilling has a share capital of GBP 495,099.08 divided into 24,754,954 shares, each with a nominal value of GBP 0.02.

    Furthermore, Equro Issuer Services AS, Awilco Drilling’s issuer account operator with Euronext Securities Oslo (the “VPS”) has today issued new 10,136,819 SNDRs, each corresponding to one underlying share in Awilco Drilling. The SNDRs will be delivered to subscribers in the Private Placement on or about 18 October on a delivery-versus-payment basis.

    Aberdeen, 18 October 2024

    For further information please contact:

    Eric Jacobs, CEO of Awilco Drilling; Tel: +47 95 29 22 71
    Cathrine Haavind, Investor Relations of Awilco Drilling; Tel: +47 93 42 84 64, ch@awilcodrilling.com

    This information is published in accordance with the requirements of the Continuing Obligations.

    The MIL Network –

    January 24, 2025
  • MIL-OSI Asia-Pac: FS to visit Peru and US

    Source: Hong Kong Government special administrative region

    FS to visit Peru and US
    FS to visit Peru and US
    ***********************

         The Financial Secretary, Mr Paul Chan, will depart for Peru this evening (October 18) to attend the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting and other related events to be held in Lima, after which he will visit New York, the United States, from October 22 to 24.     In addition to attending the APEC Finance Ministers’ Meeting during his visit to Lima, Peru, Mr Chan will have bilateral meetings with officials of other economies to exchange views on issues of mutual concern. He will also attend a luncheon hosted by the APEC Business Advisory Council and meet with members of business communities from various regions.     With a theme of “Sustainable + Digital + Resilient = APEC”, this year’s Finance Ministers’ Meeting will explore topics including global economic and financial outlook, fostering green and sustainable development, providing financial support to tackle climate change, as well as digitalisation of finance and financial inclusion.      During his visit to New York, Mr Chan will attend the Global Regulatory Forum organised by Bloomberg and deliver a keynote speech. He will also join a number of breakfast meetings and luncheons to meet and exchange views with members of the political, business and financial communities in the United States, and promote Hong Kong’s advantages and opportunities. Mr Chan will also visit local enterprises.     Mr Chan will leave New York on October 24 local time and arrive in Hong Kong in the early evening of October 25. During his absence, the Deputy Financial Secretary, Mr Michael Wong, will be the Acting Financial Secretary.

     
    Ends/Friday, October 18, 2024Issued at HKT 14:00

    NNNN

    MIL OSI Asia Pacific News –

    January 24, 2025
  • MIL-OSI: China Medical System:First Ruxolitinib Cream’s Prescriptions for Vitiligo Issued in the Greater Bay Area

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, CHINA, Oct. 18, 2024 (GLOBE NEWSWIRE) — China Medical System Holdings Limited (the “Group” or “CMS”) is pleased to announce that on 18 October, the first batch of prescriptions of ruxolitinib phosphate cream (the “ruxolitinib cream” or the “Product”) for qualified vitiligo patients were issued in the Greater Bay Area, at Zhongshan Chen Xinghai Hospital of Integrated Traditional Chinese and Western Medicine, Foshan Fosun Chancheng Hospital, and Dongguan Songshan Lake Tungwah Hospital. The Product’s new drug application (NDA) was approved by the Pharmaceutical Administration Bureau (ISAF) of Macau on 11 April 2024, and subsequently the Product was approved by the Guangdong Provincial Medical Products Administration on August 19 through the “Hong Kong and Macau Medicine and Equipment Connect” policy, which officially introduced ruxolitinib cream for the treatment of non-segmental vitiligo with facial involvement in adults and adolescents from 12 years of age, providing a novel treatment option for patients with relevant indication into designated medical institutions in the Mainland of Greater Bay Area.

    In addition, on 24 September, the NDA for vitiligo indication of ruxolitinib cream has been accepted by the National Medical Products Administration of China (NMPA). In accordance with the relevant regulations of the drug real-world data application pilot program in the Hainan Boao Lecheng International Medical Tourism Pilot Zone (the “Pilot Zone”), CMS has conducted a real-world study on ruxolitinib cream in China. The results have shown positive efficacy, which is consistent with the key outcomes of global pivotal clinical studies. All secondary efficacy endpoints showed a trend of benefit consistent with the primary efficacy endpoint, and the treatment effect for vitiligo continued to improve with longer treatment duration. Meanwhile, through the safety monitoring data of the Pilot Zone, no new safety events have been identified. Adverse events mostly had severity levels of grade 1 or 2. No adverse event (AE) leading to discontinuation or withdrawal, and no serious adverse event (SAE) related to the study drug occurred.

    If the Product is successfully approved for marketing in Mainland China, it will be the first prescription drug approved by NMPA for repigmentation in vitiligo, bringing this novel treatment hopes for Chinese vitiligo patients.

    Furthermore, on 12 August 2023, the Product was approved by Hainan Medical Products Administration for Urgent Clinical Import, and officially became available to applicable patients in the Pilot Zone on August 18, for the topical treatment of non-segmental vitiligo in adults and adolescents aged 12 and above with facial involvement. Benefiting from the Early and Pilot Implementation Policy granted by the state to Hainan Free Trade Port and the Pilot Zone, patients with vitiligo in China can apply for the Product in Boao Super Hospital first and receive treatment from the expert team. As of 30 June 2024, more than 3,200 patients have been treated with ruxolitinib cream in Boao Super Hospital.

    CMS has always been patient-oriented and innovation-driven based on clinical needs, continuously striving to improve drug accessibility. Benefited from the “Hong Kong and Macau Medicine and Equipment Connect” policy, ruxolitinib cream was approved for use in the Greater Bay Area and completed its first batch of prescriptions, shortening the time difference for Chinese vitiligo patients to use innovative drug and benefiting more domestic patients. Looking forward to the future, the Group will continuously strive to meet the unmet needs of Chinese patients, continuously explore novel drugs with international quality, and efficiently promote products’ clinical development and commercialization, so as to bring more quality pharmaceutical products through differentiated innovation-breakthrough, to safeguard the health and life-quality of patients.

    About ruxolitinib cream
    Ruxolitinib cream (Opzelura), a novel cream formulation of Incyte’s selective JAK1/JAK2 inhibitor ruxolitinib, is approved by the U.S. Food & Drug Administration for the topical treatment of nonsegmental vitiligo in patients 12 years of age and older. As of now, it is the first and only treatment for repigmentation approved for use in the United States[1]. Ruxolitinib cream (Opzelura) is also approved in the U.S. for the topical short-term and non-continuous chronic treatment of mild to moderate atopic dermatitis (AD) in non-immunocompromised patients 12 years of age and older whose disease is not adequately controlled with topical prescription therapies, or when those therapies are not advisable[2]. In Europe, ruxolitinib cream (Opzelura) is approved for the treatment of non-segmental vitiligo with facial involvement in adults and adolescents from 12 years of age[3].

    On 2 December 2022, the Group through a subsidiary of the Company, a dermatology medical aesthetic company (“CMS Skinhealth”) entered into a Collaboration and License Agreement (the “License Agreement”) with Incyte for topical formulations of ruxolitinib for the treatment of autoimmune and inflammatory dermatology diseases. In accordance with the License Agreement, the Group through CMS Skinhealth received an exclusive license to develop, register and commercialize the Product in Mainland China, Hong Kong Special Administrative Region, Macau Special Administrative Region, Taiwan Region and eleven Southeast Asian countries (Indonesia, Philippines, Vietnam, Thailand, Myanmar, Malaysia, Cambodia, Laos, Singapore, Timor-Leste and Brunei Darussalam) (the “Territory”) and a non-exclusive license to manufacture the Product in the Territory. The License Agreement commenced on its effective date and has a royalty term of ten years from the date of the commercial sale of the Product in the Territory (the “Royalty Term”). Upon the expiration of the Royalty Term, the License Agreement may be renewed for a period of ten years thereafter (the “Initial Extended Royalty Term”) as per certain conditions defined in the License Agreement. Upon the expiration of the Initial Extended Royalty Term, the License Agreement may be extended for a period otherwise agreed by both sides as per certain conditions defined in the License Agreement.

    Incyte has worldwide rights for the development and commercialization of the Product, marketed in the United States and Europe as Opzelura®. Opzelura and the Opzelura logo are registered trademarks of Incyte.

    About vitiligo

    Vitiligo is a chronic autoimmune disease characterized by depigmentation of the skin, which results from the loss of pigment-producing cells known as melanocytes. It is estimated that there are approximately 14 million vitiligo patients in China[4]. Non-segmental vitiligo patients account for approximately 85% of them. Topical corticosteroids (TCS) and calcineurin inhibitors (CI) are used off-label for non-segmental vitiligo, however, these therapies have clinical deficiencies with long-term adverse reactions of long-term treatment or limited efficacy[5、6].

    About CMS
    CMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet medical needs.

    CMS focuses on the global first-in-class (FIC) and best-in-class (BIC) innovative products, and efficiently promotes the clinical research, development and commercialization of innovative products, enabling the continuous transformation of scientific research into clinical practices to benefit patients.

    CMS deeply engages in several specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to promote the in-depth development of its advantageous specialty fields and expand business boundaries. While strengthening the competitiveness of the cardio-cerebrovascular/gastroenterology business, CMS independently operates its dermatology and medical aesthetics business, and ophthalmology business, aiming to gain leading positions in specialty therapeutic fields, whilst enhancing the scale and efficiency. At the same time, CMS has expanded its business territory to the Southeast Asian market, striving to become a “bridgehead” for global pharmaceutical companies to enter the Southeast Asian market, further escorting the sustainable and healthy development of the Group.

    Reference:

    1. Drug approval information can be found on the FDA official website, as follows:  https://www.fda.gov/drugs/news-events-human-drugs/fda-approves-topical-treatment-addressing-repigmentation-vitiligo-patients-aged-12-and-older
    2. Drug approval information can be found on the Incyte official website, as follows: https://investor.incyte.com/news-releases/news-release-details/incyte-announces-us-fda-approval-opzeluratm-ruxolitinib-cream
    3. Drug approval information can be found on the EMA official website, as follows: https://www.ema.europa.eu/en/medicines/human/EPAR/opzelura
    4. Ezzedine K, Eleftheriadou V, Whitton M, van Geel N. Vitiligo. Lancet. 2015;386(9988):74-84. doi:10.1016/S0140-6736(14)60763-7
    5. Consensus on the diagnosis and treatment of vitiligo (2021 version)
    6. Kubelis-López DE, Zapata-Salazar NA, Said-Fernández SL, Sánchez-Domínguez CN, Salinas-Santander MA, Martínez-Rodríguez HG, Vázquez-Martínez OT, Wollina U, Lotti T, Ocampo-Candiani J. Updates and new medical treatments for vitiligo (Review). Exp Ther Med. 2021 Aug;22(2):797. doi: 10.3892/etm.2021.10229. Epub 2021 May 25. PMID: 34093753; PMCID: PMC8170669.

    CMS Disclaimer and Forward-Looking Statements
    This press release is not intended to promote any products to you and is not for advertising purposes. This press release does not recommend any drugs, medical devices and/or indications. If you want to know more about the diagnosis and treatment of specific diseases, please follow the opinions or guidance of your doctor or other medical and health professionals. Any treatment-related decisions made by healthcare professionals should be based on the patient’s specific circumstances and in accordance with the drug package insert.

    This press release which has been prepared by CMS does not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for or be relied on in connection with any contract or binding commitment whatsoever. This press release has been prepared by CMS based on information and data which it considers reliable, but CMS makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this press release. Certain matters discussed in this press release may contain statements regarding the Group’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. Any forward-looking statements and projections made by third parties included in this press release are not adopted by the Group and the Company is not responsible for such third-party statements and projections.

    Media Contact

    Brand: China Medical System Holdings Ltd.

    Contact: CMS Investor Relations

    Email: ir@cms.net.cn

    Website: https://web.cms.net.cn/en/home/

    Source: China Medical System Holdings Ltd.

    The MIL Network –

    January 24, 2025
  • MIL-OSI Asia-Pac: More measures to support SMEs

    Source: Hong Kong Information Services

    The Monetary Authority (HKMA), together with the banking sector, introduced multiple measures today to further support, through financing as well as banking products and services, the continuous development of small and medium-sized enterprises (SMEs).

    The HKMA said around 20,000 SMEs have benefitted from the nine measures that it launched with the Banking Sector SME Lending Co-ordination Mechanism in March this year, involving an aggregate credit limit of over $44 billion.

    Taking into account the commercial sector’s views, the HKMA and the banking sector will roll out five measures to assist SMEs’ continuous development, upgrade and transformation, as well as enhancing their competitiveness and productivity to cope with various operational challenges.

    Firstly, the HKMA has lowered the countercyclical capital buffer ratio from 1% to 0.5%, and will allow banks to early adopt the preferential treatments for SME exposures under the Basel III capital framework.

    Such policies will release bank capital, enabling banks to make use of the additional capital to facilitate SMEs’ financing needs.

    Secondly, the 16 banks that are active in SME lending have set aside a total of over $370 billion in dedicated funds for SMEs in their loan portfolio. The funds will allow SME customers to access necessary financing to cope with the evolving business environment.

    The banks will regularly review and consider scaling up the size of their dedicated funds in response to SMEs’ needs and development.

         ​

    Thirdly, the HKMA said banks will launch more credit products and services to meet the needs, such as the combination of digital transformation and green transformation, of SMEs. Examples include pre-approved credit limits, unsecured loans, cross-border loans, and loans with flexible repayment periods.

    On partial principal repayment options, the HKMA noted that when an orderly exit from the banking sector’s Pre-approved Principal Payment Holiday Scheme started in July 2023, the mechanism introduced enhanced measures to assist corporates’ gradual return to normal repayment.

    As some customers’ partial principal repayment arrangements will expire in early 2025, banks will be accommodative and consider offering more flexible repayment arrangements to these customers.

    Subject to prudent risk-management principles, such arrangements may include extending the duration of partial principal repayment, offering more options on the proportion and duration of partial principal repayment, or even offering principal moratorium.

    Additionally, banks will allocate adequate resources to process applications and work closely with HKMC Insurance to implement as soon as possible the principal moratorium and other enhanced measures under the SME Financing Guarantee Scheme.

    MIL OSI Asia Pacific News –

    January 24, 2025
  • MIL-OSI Asia-Pac: FS to visit Peru and the US

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan will depart for Peru this evening to attend the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting and other related events in the country’s capital Lima, before heading to New York City in the US.

    Under the banner “Sustainable + Digital + Resilient = APEC”, this year’s finance ministers’ meeting will explore the global economic and financial outlook, how to foster green and sustainable development, the provision of financial support to tackle climate change, digitalisation in finance, and financial inclusion. In addition to attending the APEC event, Mr Chan will hold bilateral meetings with officials from other economies to exchange views on issues of mutual concern. He will also attend a lunch hosted by the APEC Business Advisory Council.

    During his visit to New York, the Financial Secretary will deliver a keynote speech at the Global Regulatory Forum, organised by Bloomberg.

    In addition, Mr Chan will attend a number of breakfast meetings and lunches to promote Hong Kong’s advantages and opportunities. He will also visit local enterprises.

    Mr Chan will arrive back in Hong Kong on October 25. During his absence, Deputy Financial Secretary Michael Wong will be Acting Secretary.

    MIL OSI Asia Pacific News –

    January 24, 2025
  • MIL-OSI USA: What is Air Quality?

    Source: NASA

    Clean air is essential for healthy living, but according to the World Health Organization (WHO), almost 99% of the global population breathes air exceeding their guideline limits of air pollution. “Air quality is a measure of how much stuff is in the air, which includes particulates and gaseous pollutants,” said Kristina Pistone, a research scientist at NASA Ames Research Center. Pistone’s research covers both atmospheric and climate areas, with a focus on the effect of atmospheric particles on climate and clouds. “It’s important to understand air quality because it affects your health and how well you can live your life and go about your day,” Pistone said. We sat down with Pistone to learn more about air quality and how it can have a noticeable impact on human health and the environment.

    There are six main air pollutants regulated by the Environmental Protection Agency (EPA) in the United States: particulate matter (PM), nitrogen oxides, ozone, sulfur oxides, carbon monoxide, and lead. These pollutants come from from natural sources, such as the particulate matter that rises into the atmosphere from fires and desert dust, or from human activity, such as the ozone generated from sunlight reacting to vehicle emissions.

    Air quality influences health and quality of life. “Just like we need to ingest water, we need to breathe air,” Pistone said. “We have come to expect clean water because we understand that we need it to live and be healthy, and we should expect the same from our air.”
    Poor air quality has been tied to cardiovascular and respiratory effects in humans. Short-term exposure to nitrogen dioxide (NO2), for example, can cause respiratory symptoms like coughing and wheezing, and long-term exposure increases the risk of developing respiratory diseases such as asthma or respiratory infections. Exposure to ozone can aggravate the lungs and damage the airways. Exposure to PM2.5 (particulates 2.5 micrometers or smaller) causes lung irritation and has been linked to heart and lung diseases.
    In addition to its impacts on human health, poor air quality can damage the environment, polluting bodies of water through acidification and eutrophication. These processes kill plants, deplete soil nutrients, and harm animals.

    Air quality is similar to the weather; it can change quickly, even within a matter of hours. To measure and report on air quality, the EPA uses the United States Air Quality Index (AQI). The AQI is calculated by measuring each of the six primary air pollutants on a scale from “Good” to “Hazardous,” to produce a combined AQI numeric value 0-500.
    “Usually when we’re talking about air quality, we’re saying that there are things in the atmosphere that we know are not good for humans to be breathing all the time,” Pistone said. “So to have good air quality, you need to be below a certain threshold of pollution.” Localities around the world use different thresholds for “good” air quality, which is often dependent on which pollutants their system measures. In the EPA’s system, an AQI value of 50 or lower is considered good, while 51-100 is considered moderate. An AQI value between 100 and 150 is considered unhealthy for sensitive groups, and higher values are unhealthy to everyone; a health alert is issued when the AQI reaches 200. Any value over 300 is considered hazardous, and is frequently associated with particulate pollution from wildfires.

    Air quality sensors are a valuable resource for capturing air quality data on a local level.In 2022, the Trace Gas GRoup (TGGR) at NASA Ames Research Center deployed Inexpensive Network Sensor Technology for Exploring Pollution, or INSTEP: a new network of low-cost air quality sensors that measures a variety of pollutants. These sensors are capturing air quality data in certain areas in California, Colorado, and Mongolia, and have proven advantageous for monitoring air quality during California’s fire season.
    The 2024 Airborne and Satellite Investigation of Asian Air Quality (ASIA-AQ) mission integrated sensor data from aircraft, satellites, and ground-based platforms to evaluate air quality over several countries in Asia. The data captured from multiple instruments on these flights, such as the Meteorological Measurement System (MMS) from NASA Ames Atmospheric Science Branch, are used to refine air quality models to forecast and assess air quality conditions.
    Agency-wide, NASA has a range of Earth-observing satellites and other technology to capture and report air quality data. In 2023, NASA launched the Tropospheric Emissions: Monitoring of Pollution (TEMPO) mission, which measures air quality and pollution over North America. NASA’s Land, Atmosphere Near real-time Capability for Earth Observations (LANCE) tool provides air quality forecasters with measurements compiled from a multitude of NASA instruments, within three hours of its observation.

    In addition to the EPA’s website, which houses air-quality related sources, the EPA also has a platform called AirNow, which reports the local AQI across the United States and allows users to check air quality levels in their area. Pistone also recommends looking at Purple Air’s real-time map, which displays PM data taken from a crowd-sourced network of low-cost sensors and translates those measurements to estimate AQI. For those concerned about air quality, Pistone recommends checking out https://cleanaircrew.org/ for resources on indoor air quality, breathing safely with wildfire smoke, and even building your own box fan filter.
    To learn more about air quality research applications, see NASA’s Applied Sciences Program’s Health & Air Quality program area, which details the use of Earth observations to assess and address air quality concerns at local, regional, and national levels. Additionally, the NASA Health and Air Quality Applied Sciences Team (HAQAST) helps connect NASA data and tools with stakeholders to better share and understand the effects of air quality on human health.
    Written by Katera Lee, NASA Ames Research Center

    MIL OSI USA News –

    January 24, 2025
  • MIL-OSI United Kingdom: Government launches British Infrastructure Taskforce

    Source: United Kingdom – Executive Government & Departments 3

    Private finance experts met the Chancellor at No11 Downing Street today to boost investment in infrastructure and drive growth nationwide.

    Rachel Reeves convened the inaugural meeting of the British Infrastructure Taskforce as part of a new approach that involves government working with business to design policy that will unlock private investment, including by building business confidence in UK infrastructure investments.

    The Taskforce will explore different options to support the Government’s infrastructure goals to drive growth for the whole of the nation, and some of the UK’s biggest financial companies including LLoyds, HSBC, and M&G will be in attendance.

    This Government has committed to turbocharge infrastructure investment across the width and breadth of the UK. Invitees have been selected to ensure a wide range of experience and expertise in UK infrastructure. This marks a significant shift in approach, with key businesses and stakeholders invited to work with the government to support the delivery of its infrastructure agenda.

    It follows the announcement to launch a newly formed National Infrastructure and Service Transformation Authority (NISTA) which will bring oversight of strategy and delivery under one roof.

    The NISTA will support the development and implementation of the ten-year infrastructure strategy in conjunction with industry which was outlined for the first time last week by the Chief Secretary Darren Jones.

    The Chancellor of the Exchequer Rachel Reeves MP said:

    Increasing investment in infrastructure is a vital part of delivering on our number one mission to grow the economy and create jobs.

    Just days after our International Investment Summit, we are delivering on our promise to work with business to drive growth across the country, and the expertise of this Taskforce will be invaluable in the weeks and months ahead.

    Chief Secretary to the Treasury Darren Jones MP said:

    We are serious about ending the cycle of underinvestment that has plagued our infrastructure systems for over a decade. The best way to do that is to design the solution with business in the room. That’s what this taskforce is all about.

    The Taskforce will meet regularly, offering insights that deliver long-lasting solutions for job creation, growth, and environmental goals.

    This builds on the success of the International Investment Summit, which saw hundreds of top international investors attend the event, £63 billion of confirmed investment into Britain, along with the launch of the £27.8 billion turbocharged National Wealth Fund.

    Tracy Blackwell, CEO, PIC said:

    We have a huge amount to invest and we want to invest more in Britain. There is no shortage of capital that can support the British economy’s capacity to grow. The right combination of policies and ideas will unlock that capital and boost growth.  From planning reform and better use of public sector pension funds to a streamlining of institutions and regulations, there is a lot that Government can do to crowd in more private investment and deliver social value. It’s great to be in an ongoing conversation with the Chancellor about taking that agenda forward.

    Andrea Rossi, CEO, M&G plc said:

    M&G has been an active investor in the UK for 175 years. Of the £100 billion M&G invests in the UK, infrastructure remains a core part of delivering sustainable returns for our savers, clients and shareholders. The UK’s clear focus on infrastructure presents a significant opportunity to deliver economic and social progress and we are delighted to contribute our expertise.”  

    Deepa Bharadwaj, Head of Infrastructure Europe, IFM Investors said:

    IFM is a major global infrastructure investor, a major investor in the UK, and is owned by pension funds.

    We look forward to solutions-based discussions that can unlock new investment across UK infrastructure sectors and themes”.

    Stephen Cohen, Chief Product Officer, Blackrock said:

    There’s a rapidly growing pool of capital to invest in infrastructure, but deploying it requires pragmatism in policy. We’re pleased to be working with the government in identifying policies that will support private investment.

    Charlie Nunn, CEO, Lloyds Banking Group said:

    At Lloyds Banking Group, we are committed to helping the UK deliver the infrastructure the country needs, supporting jobs and growth. We welcome the British Infrastructure Taskforce’s focus on increasing investment in UK infrastructure and addressing some of the fundamental barriers that have existed to date. As the UK’s leading bank for project finance, we will work closely with the government in the development of this taskforce, ensuring the work supports communities, businesses, and industries across the regions and nations of the UK.

    Anne Richards, Vice Chair, Fidelity International said:

    We have a shared ambition to drive growth in the UK by unlocking investment in infrastructure for the benefit of savers.  Our best opportunity to achieve that is through collaboration with government and the industry.

    Andy Briggs, CEO, Phoenix Group said: 

    Over the last three decades there has been an underinvestment in the UK economy compared to other developed nations. I am delighted there is a growing consensus that in order to grow we need to work together to invest.

    The British Infrastructure Taskforce provides the opportunity for business and government to work on shared priorities, help finance the social and economic infrastructure the country needs for the future, and give potential for better returns for pension savers.

    The following attendees of the first Taskforce meeting discussed investment opportunities, financial mechanisms, and strategies to maximise economic value:

    • Tracy Blackwell, CEO, Pension Insurance Corporation;
    • Anne Richards, Vice Chair, Fidelity International;
    • Charlie Nunn, CEO, Lloyds Banking;
    • Vivian Nicoli, Managing Director, CDPQ;
    • Andy Briggs, CEO, Phoenix Group;
    • Ian Stuart, CEO, HSBC UK;
    • Andrea Rossi, CEO, M&G;
    • Stephen Cohen, Chief Product Officer, BlackRock (represented by Helen Lees-Jones Global Head of Sustainable & Transition Solutions);
    • Deepa Bharadwaj, Head of Infrastructure Europe, IFM Investors;  
    • Mike Regnier CEO, Santander UK;
    • Sir Douglas Flint, Chairman, ABRDN;
    • Nick Smallwood, CEO, Infrastructure and Projects Authority;
    • James Heath, CEO, National Infrastructure Commission;
    • John Flint, CEO, National Wealth Fund.

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    Published 18 October 2024

    MIL OSI United Kingdom –

    January 24, 2025
  • MIL-OSI Russia: HSE Student Wins Youth World Combat Sambo Championship

    MILES AXLE Translation. Region: Russian Federation –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    A first-year student of the ICEF International Bachelor’s Program in Economics and Finance, Georgy Khvatkin, won gold at the World Youth Championship in Combat Sambo. The competition was held in Larnaca, Republic of Cyprus, and was attended by 575 athletes from 33 countries. Georgy won in the 98 kg weight category. In an express interview with the champion, Master of Sports Georgy Khvatkin, we talk about how the important decision to enter ICEF was made, how long and how many days a week Georgy has been training, what Jackie Chan has to do with it, and how great it is to have a beloved twin sister.

    From the personal archive of Georgy Khvatkin

    – Georgy, congratulations on your gold, we are proud of such a student! How and why did you decide to enter ICEF? What were your guidelines?

    – Entering ICEF was a conscious decision. My parents found out about ICEF first. They both graduated from the Philology Department of Moscow State University, and then my dad got a law degree, and my mom got an economics degree. My mom is very knowledgeable about economics and helped us choose a profession. We studied the information together and considered all the possibilities. An important factor was studying in English and getting a second diploma. We decided that this opened up great prospects. We did not consider other universities. My sister Katya and I (we are twins) prepared for the Unified State Exam and admission over the course of four school years.

    My sister and I graduated from the Moscow Russian-British school “Algorithm”, where we transferred in the seventh grade, with gold medals. And now we both study in the same bachelor’s degree group at the International Institute of Economics and Finance. Katya is my best friend. By the way, she is also successful in sports, she is a candidate for master of sports in synchronized swimming.

    – The school year has started intensively. Which subjects are coming to the forefront in terms of interest?

    – All subjects are interesting to me, all of them “caught” my attention. Largely thanks to the teaching staff. It feels like the teachers are professionals in their field, I value them all very much. I would like to separately mention Yaroslav Aleksandrovich Lyulko, who teaches “Probability Theory and Statistics”. It seems to me that this subject opens up the greatest opportunities for me as a student.

    The first few days were, of course, a bit difficult, considering how much sport there is in my life. It was also difficult because I was faced with topics that were completely new to me, but with the help of teachers and friends I figured it out and found solutions.

    I have the best group (I guess everyone says so?!): cool guys with whom I have many common interests. I already felt that ICEF is one big family, where teachers, classmates, senior students help each other.

    Studying in English turned out to be easier than I thought. I have been studying the language intensively since early childhood, and the introductory intensive course in English at the beginning of September also helped me a lot.

    – Now about your sports career. Why did you start doing sambo and how do your trainings go?

    Initially, I was involved in swimming. My dad played water polo all his life, my sister did synchronized swimming, a pool was always present in our life. And when I got interested in action movies with Jackie Chan at the age of 6-7, I became interested in martial arts. But for some reason I formulated that I wanted to do wrestling, and my dad sent me to the sambo section.

    In everyday life, when there are no competitions, I train 4-5 times a week on weekdays. During the preparation period for competitions, I start to increase the pace two months in advance. Specifically, before the Youth World Combat Sambo Championship in Larnaca, I trained two to three times a day for a month, including independent training in the form of jogging.

    – You train at the famous Sambo-70 club, and where else?

    I train in different clubs. This allows me to quickly acquire different techniques, improve in different directions. My main coach is Honored Coach of Russia Nikolay Anatolyevich Elesin, an absolute authority in the world of MMA and combat sambo. I also train at the “Boxing Progress Center” with Ali Piduriyev, and sometimes I go to wrestling days at the “Club of Professor E.L. Gloriozov”, where I work with coach Denis Igorevich Davydov.

    – Were there moments when you wanted to quit sambo?

    Yes, it happened several times. At some point, a lot of studying piled up, and in sports there were offensive and annoying defeats. I want to note the enormous support of the whole family, which did not let me do this, for which I am incredibly grateful to them all.

    – Do you have any idols in sports?

    I don’t really like the word “idol”. As I understand it, this word means to elevate someone to the level of a deity. There are people I look up to and who I like in sports. First of all, this is the legend of Russian sports Fedor Emelianenko, a four-time world champion in combat sambo. I really like the style of work on the mat of the famous sambo wrestler Denis Goltsov. I follow all his performances, try to adopt some of his techniques.

    – Out of the one and a half months of your student life, you trained two or three times a day, five days a week. How much time was left for studying? How do you manage to combine such different intensive loads?

    Of course, it is very difficult to combine sports and studies. I have to integrate training into my study schedule, so my schedule is always flexible – sometimes I will work out in the morning, sometimes more in the evening. Before tests and quizzes I reduce the number of trainings, and when it comes to studying I sometimes resort to the help of my parents, sister and friends.

    The life of a student and an athlete are similar in many ways, because it is a huge amount of independent work that you have to do. To do this, you simply need to master time management: you need to distribute your time literally by the hour in advance, so that you can do everything, and save energy somewhere, and have time to recover.

    Every week I create a schedule for the entire week to help me productively combine both studying and training.

    Now the loads in sports will decrease. But periods of high intensive load in my life are inevitable. I have to sacrifice my personal life – I manage to meet with friends once a month. This year, due to preparation for the World Championship, I unfortunately missed all the selections for student organizations that I would like to join. I hope I will have time next year.

    And for the sake of sporting honor, the IIEF is always ready to participate in competitions.

    – Have you ever found yourself in situations where circumstances pushed you to use your athletic skills in life?

    There are situations in life when you are provoked or you see that other people are provoked. I am sure that a truly strong person is not the one who knows how to fight and use physical force, but the one who knows how to resolve any issue in a conversation, in a dialogue. I believe that an athlete at such a level has no right to use his professional skills in life.

    – The student champion will hardly be able to rest on his laurels. What are your immediate plans?

    In sports, it is the Moscow Championship, selection for the Russian Championship, if we manage to win, we will go to the World Championship again. I still have 2 years to compete in juniors. It is very serious preparation before competitions in the senior age group, where I will have to compete with seasoned athletes. In terms of studies, it is midterms, exams. I would like to pass everything well and continue studying.

    – Georgy, thank you and further victories in everything!

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

    http://isef.hse.ru/nevs/975622782.html

    MIL OSI Russia News –

    January 24, 2025
  • MIL-OSI: Fanhua Announces Change of Ticker Symbol From “FANH” to “AIFU”

    Source: GlobeNewswire (MIL-OSI)

    GUANGZHOU, China, Oct. 18, 2024 (GLOBE NEWSWIRE) — Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announced the change of its ticker symbol from “FANH” to “AIFU”. Effective on October 23, 2024, the Company’s American Depository Shares will begin trading on Nasdaq under the new ticker symbol “AIFU”.

    The change aligns with the Company’s proposed change of Company’s English name from “Fanhua Inc.” to “AIX Inc.” and Chinese name from “泛华控股集团”to“智能未来有限公司”with effect from November 1, 2024, pending approval by the Company’s shareholders at the extraordinary general meeting scheduled on October 31, 2024.

    About Fanhua Inc.

    Driven by its digital technologies and professional expertise in the insurance industry, Fanhua Inc. is the leading independent financial service provider in China, focusing on providing insurance-oriented family asset allocation services that covers customers’ full lifecycle and a one-stop service platform for individual sales agents and independent insurance intermediaries.

    With strategic focus on long-term life insurance products, we offer a broad range of insurance products, claims adjusting services and various value-added services to meet customers’ diverse needs, through an extensive network of digitally empowered sales agents and professional claims adjustors. We also operate Baowang (www.baoxian.com), an online insurance platform that provides customers with a one-stop insurance shopping experience.

    For more information about Fanhua Inc., please visit https://ir.fanhgroup.com

    Forward-looking Statements

    This press release contains statements of a forward-looking nature. These statements, including the statements relating to the Company’s future financial and operating results, are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Fanhua and the industry. Potential risks and uncertainties include, but are not limited to, those relating to its ability to attract and retain productive agents, especially entrepreneurial agents, its ability to maintain existing and develop new business relationships with insurance companies, its ability to execute its growth strategy, its ability to adapt to the evolving regulatory environment in the Chinese insurance industry, its ability to compete effectively against its competitors, quarterly variations in its operating results caused by factors beyond its control including macroeconomic conditions in China. Except as otherwise indicated, all information provided in this press release speaks as of the date hereof, and Fanhua undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although Fanhua believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by Fanhua is included in Fanhua’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F.

    For more information, please contact:

    Fanhua Inc.

    Investor Relations
    Tel: +86 (20) 8388-3191
    Email: ir@fanhgroup.com

    The MIL Network –

    January 24, 2025
  • MIL-OSI Security: Bloomington Woman Pleads Guilty to Money Laundering in $250 Million Feeding Our Future Fraud Scheme

    Source: Office of United States Attorneys

    MINNEAPOLIS – The last remaining defendant in the November 4, 2024, trial in the Haji’s Kitchen indictment has pleaded guilty to her role in the $250 million Feeding Our Future fraud scheme, announced United States Attorney Andrew M. Luger.

    According to court documents, in February 2020, Farhiya Mohamud, 65, of Bloomington, created Dua Supplies & Distribution Inc. (“Dua Supplies”), a business that purported to supply food to paying customers. Mohamud’s customers participated as vendors in the Federal Child Nutrition Program, including co-defendants Haji Osman Salad and Fahad Nur. The money from Salad and Nur, which purported to be for “food supply” or “food services,” accounted for most of the funds that Mohamud deposited into her business bank accounts. In reality, Mohamud knew that she purchased relatively minimal amounts of food and thus supplied little, if any, food to Salad and Nur. Instead, she used the funds to purchase real estate, which she did at the direction of her son, Sharmarke Issa, and for his benefit.

    Mohamud, who is the 23rd defendant to plead guilty to charges relating to the Feeding Our Future fraud scheme, appeared today in U.S. District Court before Judge Nancy E. Brasel and pleaded guilty to one count of money laundering. A sentencing hearing will be scheduled at a later time.

    This case is the result of an investigation conducted by the FBI, IRS – Criminal Investigations, and the U.S. Postal Inspection Service.

    Assistant U.S. Attorneys Matthew S. Ebert, Joseph H. Thompson, and Harry M. Jacobs are prosecuting the case. 

    MIL Security OSI –

    January 24, 2025
  • MIL-OSI Security: Chinese National Pleads Guilty To Illegally Exporting Semiconductor Manufacturing Machine

    Source: Office of United States Attorneys

    SAN FRANCISCO – Lin Chen pleaded guilty in federal court today to illegally exporting U.S. technology to a prohibited end user in China, in violation of the International Emergency Economic Powers Act (IEEPA) and the Export Administration Regulations (EAR). The plea was accepted by the Hon. William Alsup, Senior U.S. District Judge.

    In pleading guilty, Chen, 65, a citizen of the People’s Republic of China (PRC), admitted to acting on behalf of Jiangsu Hantang International Trade Group Corp., Ltd. (JHI), a company headquartered in Nanjing, PRC, to procure a wafer cutting machine on behalf of Chengdu GaStone Technology Co., Ltd. (GaStone), an entity located in Chengdu, PRC.  Chen admitted to knowing that GaStone was designated on the U.S. Department of Commerce’s Entity List on Aug. 1, 2014.  Federal regulations restrict the export of certain items to companies, research institutions, and other entities identified on the Department of Commerce’s Entity List. Under applicable Department of Commerce regulations, wafer cutting machines, which are used to cut thin semiconductors used in electronics (also known as silicon wafers), require a license for export to end-users such as GaStone.

    According to the plea agreement, by no later than Dec. 4, 2015, Chen knew that GaStone was prohibited from receiving restricted exports without a license, including a DTX-150 Scribe and Break Machine, a machine for processing silicon wafer microchips.  On approximately Dec. 10, 2015, Chen worked with a co-defendant to arrange the sale of a DTX-150 to GaStone by shipping it to the PRC in the name of JHI without an export license from Commerce. Chen used JHI’s status as an intermediary to conceal GaStone as the true end-user of the technology.

    A federal grand jury indicted Chen on Dec. 1, 2020, charging him with conspiracy to violate IEEPA; submitting false electronic export information; smuggling; and IEEPA violations.  Under the plea agreement, Chen pleaded guilty to count four, causing an unlawful export in violation of IEEPA.  Defendant currently is released on bond.

    Chen’s sentencing hearing is scheduled for January 28, 2025, before the Judge Alsup.  The maximum statutory penalty for an IEEPA violation is up to 20 years in prison and a $1 million fine.  However, any sentence will be imposed by the court only after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.

    United States Attorney Ismail J. Ramsey, Federal Bureau of Investigation (FBI) Special Agent in Charge Robert K. Tripp, Homeland Security Investigations (HSI) Special Agent in Charge Tatum King, and Brent Burmester, U.S. Department of Commerce, Bureau of Industry and Security (BIS) Special Agent in Charge, San Jose Field Office, made the announcement today.

    Assistant U.S. Attorney Colin Sampson and Brett Reynolds of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case with the assistance of Claudia Hyslop and Nina Burney.  The prosecution is the result of an investigation by FBI, HSI, and BIS.
     

    MIL Security OSI –

    January 24, 2025
  • MIL-OSI Security: Leader of Sacramento Cocaine Trafficking Organization Sentenced to 14 Years in Prison

    Source: Office of United States Attorneys

    SACRAMENTO, Calif. — Maurice Bryant, 54, of Sacramento, was sentenced today to 168 months in prison for conspiracy to distribute and possess with intent to distribute at least 5,000 grams of cocaine and 280 grams of cocaine base and for conspiracy to distribute and possess with intent to distribute heroin, both in violation of 21 U.S.C. §§ 846 and 841(a)(1), U.S. Attorney Phillip A. Talbert announced.

    According to court documents, Bryant is among the 15 federal defendants arrested in 2021 and charged in a 45-count indictment for trafficking narcotics as part of a DEA-led multi-agency operation targeting cocaine and heroin traffickers in North Sacramento. The Court found Bryant to be an organizer or leader of the vast cocaine distribution network. During just 60 days of wiretaps in 2018 and 2019, he was intercepted strategizing the movement of cocaine over the Mexican border, distributing over five kilograms of powder cocaine and a kilogram of cocaine base to his co-conspirators, and converting large quantities of powder cocaine into cocaine base (crack cocaine) in his residence. At the time of his arrest, agents seized drug trafficking paraphernalia, two loaded firearms, and a military-grade bullet proof vest from his residence.

    This case is the product of an investigation by the Drug Enforcement Administration, the Federal Bureau of Investigation, Homeland Security Investigations, the U.S. Marshals Service, the Bureau of Alcohol, Tobacco, Firearms, and Explosives, the U.S. Forest Service, the U.S. Postal Inspection Service, the Bureau of Land Management, the California Department of Corrections and Rehabilitation, the California Department of Justice, the California Highway Patrol, the Sacramento County Sheriff’s Office, and the Sacramento Police Department. Assistant U.S. Attorney Cameron L. Desmond is prosecuting the case.

    Below is the status of Bryant’s co-defendants:

    On September 29, 2022, Jason Tolbert, 45, of Sacramento, was sentenced to 57 months in prison for possession with intent to distribute cocaine.

    On November 17, 2022, Charles Carter, 36, of Sacramento, was sentenced to 70 months in prison for conspiracy to distribute and to possess with intent to distribute at least 500 grams of cocaine.

    On November 17, 2022, Andre Hellams, 40, of North Highlands, pleaded guilty to two counts of using a communication facility to facilitate a drug trafficking offense.  Hellams is scheduled to be sentenced on February 17, 2025. 

    On December 8, 2022, Michael Hampton, 57, of Vallejo, was sentenced to 60 months in prison for to conspiracy to distribute and possess with intent to distribute at least 500 grams of cocaine.

    On March 16, 2023, Arlington Caine, 48, of Rio Linda, was sentenced to 22 months in prison for two counts of using a communication facility to facilitate a drug trafficking offense.

    On March 14, 2024, Bobby Conner, 51, of Sacramento, was sentenced to six months in prison for two counts of using a communication facility to facilitate a drug trafficking offense.

    On April 25, 2024, 2023, Dwight Haney, 52, of Sacramento was sentenced to time served for two counts of using a communication facility to facilitate a drug trafficking offense.

    On May 30, 2024, Jerome Adams, 56, of North Highlands, was sentenced to 60 months in prison for two counts of using a communication facility to facilitate a drug trafficking offense.

    On August 8, 2024, Steven Hampton, 64, of Sacramento, was sentenced to 84 months in prison for possession with intent to distribute at least 500 grams of cocaine.

    On September 26, 2024, Mark Martin, 63, of Sacramento was sentenced to time served for using a communication facility to facilitate a drug trafficking offense.

    On August 1, 2024, Alex White, 61, of North Highlands, was sentenced to a term of 38 months (time served) for distribution of cocaine base.

    On September 3, 2024, Tyrone Anderson, 44, of Sacramento, was sentenced to 135 months in prison for conspiracy to distribute and to possess with intent to distribute at least 5,000 grams of cocaine and 280 grams of cocaine base and for conspiracy to distribute and possess with intent to distribute heroin.

    Charges are pending against Yovanny Ontiveros, 41, of Sacramento, and Wilmer Harden, 52, of Elk Grove. The charges are only allegations; the defendants are presumed innocent until and unless proven guilty beyond a reasonable doubt.

    This prosecution is part of the Organized Crime Drug Enforcement Task Forces (OCDETF) Strike Force Initiative, which provides for the establishment of permanent multi-agency task force teams that work side-by-side in the same location. The Sacramento Strike Force is a co-located model enables agents from different agencies to collaborate on intelligence-driven, multi-jurisdictional operations to disrupt and dismantle the most significant drug traffickers, money launderers, gangs, and transnational criminal organizations. The specific mission of the Sacramento Strike Force is to identify, investigate, disrupt, and dismantle the most significant drug trafficking organizations (DTOs) and transnational criminal organizations (TCOs) shipping narcotics, firearms, and money through the Eastern District of California, thereby reducing the flow of these criminal resources in California and the rest of the United States. The Sacramento Strike Force leads intelligence-driven investigations targeting the leadership and support elements of these DTOs and TCOs operating within the Eastern District of California, regardless of their geographic base of operations.

    MIL Security OSI –

    January 24, 2025
  • MIL-OSI Security: Charlotte Man Is Sentenced To Prison For $700,000 Investment Fraud Scheme

    Source: Office of United States Attorneys

    CHARLOTTE, N.C. – Today, U.S. District Judge Kenneth D. Bell sentenced Frank Lynold Mercado, 27, of Charlotte, to 41 months in prison followed by two years of supervised release for defrauding over 100 victims of more than $700,000 through a fraudulent investment scheme, announced Dena J. King, U.S. Attorney for the Western District of North Carolina. Mercado was also ordered to pay $709,690 in restitution.

    Robert M. DeWitt, Special Agent in Charge of the Federal Bureau of Investigation (FBI), Charlotte Division, joins U.S. Attorney King in making today’s announcement.

    According to court documents and court proceedings, from July 2019 to December 2022, Mercado executed an investment fraud scheme in which he caused more than 100 investors to sustain nearly $700,000 in losses. Mercado induced the victims – many of whom were his friends, former co-workers, and other social acquaintances – to invest their money by holding himself out to be an expert in options trading with years of experience and a successful track record. As part of the scheme, Mercado falsely represented to victim investors that he would use their money for options trading and similar investments through his hedge fund, Tiger-Wolf Capital, LLC (Tiger-Wolf Capital). Instead of investing the funds as promised, Mercado used a portion of the money to make Ponzi-style payments to investors, and to fund his personal lifestyle, including to make large credit card payments and pay for personal expenditures such as Airbnb rentals, restaurants, and bars.

    Court documents show that with the money that he did invest, Mercado suffered trading losses and then lied to investors about the performance of their investments. For example, Mercado periodically sent updates to victim investors through emails, text messages, or screenshots of purported account portals that reflected fictitious trading gains. He also made false and fraudulent statements to investors about substantial returns on their investments in order to induce his victims to invest additional money with him and/or to leave their current investments with him. According to court documents, as a result of the scheme, Mercado caused victims to suffer losses, with some victims experiencing significant financial hardship.

    On June 12, 2022, Mercado pleaded guilty to wire fraud. He will be ordered to report to the Federal Bureau of Prisons upon designation of a federal facility.

    On May 30, 2024, the U.S. Securities and Exchange Commission announced the filing of a complaint against Mercado in the U.S. District Court for the Western District of North Carolina, charging Mercado and Tiger-Wolf Capital with securities violations.  On July 2, 2024, the court, pursuant to consents signed by Mercado and Tiger-Wolf, enjoined them from violating the charged provisions and ordered them to pay disgorgement, prejudgment interest, and civil money penalties in amounts to be determined at a later date.  The court also barred Mercado from serving as officer or director of a public company and enjoined him from participating in the issuance, purchase, offer, or sale of securities, except in his personal account.

    U.S. Attorney King commended the FBI for their investigation of the case and thanked the U.S. Securities and Exchange Commission for their coordination and assistance.

    Special Assistant U.S. Attorney Eric Frick of the U.S. Attorney’s Office in Charlotte prosecuted the case. 

    MIL Security OSI –

    January 24, 2025
  • MIL-OSI Security: Charlotte Man Is Sentenced To Prison For Armed Robberies Of Two Convenience Stores

    Source: Office of United States Attorneys

    CHARLOTTE, N.C. – Thomas Lagene Franklin, 56, of Charlotte, was sentenced today to 15 years in prison followed by three years of supervised release for the armed robbery of two local convenience stores, announced Dena J. King, U.S. Attorney for the Western District of North Carolina.

    Robert M. DeWitt, Special Agent in Charge of the Federal Bureau of Investigation (FBI), Charlotte Division, and Chief Johnny Jennings of the Charlotte Mecklenburg Police Department, join U.S. Attorney King in making today’s announcement.

    According to court documents and court proceedings, on August 7, 2022, at approximately 3:30 a.m., a black vehicle pulled up alongside a male victim who was walking toward his hotel room in Charlotte. The driver of the vehicle, later identified as Franklin, demanded money from the victim. When the victim replied that he did not have any money, Franklin fired multiple shots at the victim striking him in the leg before driving away.

    According to filed court documents, on August 9, 2022, Franklin robbed at gunpoint the Circle K convenience store located at 2833 Freedom Drive, in Charlotte. Court records show that, at approximately 1:45 a.m., Franklin entered the store wearing a bucket-style fishing hat with clear safety glasses and a black surgical mask. Upon entering the store, Franklin posed as a customer, brought items to the counter, and gave the clerk money to pay for those items. When the clerk opened the register, Franklin pulled a small silver semiautomatic handgun from his pocket, pointed it at the clerk, and demanded money in the register. The clerk complied and Franklin fled the scene.

    According to court records, later the same day, the 7-Eleven convenience store located at 8315 Steele Creek Road, in Charlotte, was robbed at gunpoint in a similar fashion as the Circle K

    robbery. At approximately 6:50 a.m., Franklin entered the store dressed identical to the robber from the Circle K robbery. Once again, Franklin acted as a customer and pretended to buy and pay for his items. When the store clerk opened the register, Franklin pulled out a small silver semi-automatic handgun and demanded money. The store clerk gave Franklin money and Franklin fled the scene. CMPD officers arrested Franklin the following day. A firearm recovered over the course of the arrest was identified as the gun used in the shooting and the two robberies.

    On February 7, 2024, Franklin pleaded guilty to two counts of Hobbs Act robbery and one count of possession of a firearm by a convicted felon. He is currently in federal custody and will be transferred to the custody of the Federal Bureau of Prisons upon designation of a federal facility.

    U.S. Attorney King commended the FBI and CMPD for their investigation of the case.

    Assistant U.S. Attorney Dana Washington of the U.S. Attorney’s Office in Charlotte prosecuted the case.

     

    MIL Security OSI –

    January 24, 2025
  • MIL-OSI Security: Employee Who Stole More than $430,000 from San Diego Regional Economic Development Corporation Sentenced

    Source: Office of United States Attorneys

    SAN DIEGO – Escondido resident Katherine Lu Acquista, the former director of operations and accounting for the San Diego Regional Economic Development Corporation, was sentenced in federal court today to 12 months and 1 day in custody for stealing approximately $433,275.89 from her then-employer.  She was also ordered to pay a fine of $50,000.

    According to court documents, while employed at the non-profit organization known as EDC, Acquista used her access and authority to put personal expenses on EDC credit cards and pay those expenses using EDC funds. She also directed other employees to issue checks to her from the EDC company bank account. She then caused false entries about these transactions to be made in the EDC’s accounting system to disguise her ongoing theft. In addition, she stole from EDC’s flexible spending and payroll system. All told, she exploited her position of trust to steal more than $430,000 over at least a five-year period, between August 2017 and August 2022.

    The EDC is a 501(c)(3) charitable non-profit organization that works to grow San Diego’s economy and regional prosperity. The EDC’s mission is to maximize the region’s economic competitiveness and global competitiveness.  It is funded by individual and corporate donations, grants and investments from nearly 200 companies, public agencies, and private organizations.

    Explaining the impact of her crimes, the Chief Operating Officer of EDC stated, “[San Diego Regional Economic Development Corporation] is a nonprofit organization with a mission to maximize the region’s economic prosperity and raise our global competitiveness. Acquista’sactions defied two of our closely held values – accountability and integrity.”

    “Members of our community who donate to local non-profits depend on the integrity and stewardship of those entrusted with such funds,” said U.S. Attorney Tara McGrath. “This sentence serves to remind those engaged in crime for profit that whether your victim is the taxpayer, government, or a local non-profit, you will be held accountable.”

    “Those who seek to misappropriate non-profit donations are acting contrary to the interest of the public good. The FBI stands ready to investigate those who violate the trust of the donors and diminish the efforts of non-profit organizations such as the San Diego Regional Economic Development Corporation,” said San Diego FBI Special Agent in Charge Stacey Moy.

    This case is being prosecuted by Assistant U.S. Attorney Valerie H. Chu. Former Assistant U.S. Attorney Michelle Wasserman assisted in the case.

    DEFENDANT                                               Case Number 24CR0765-AJB

    Katherine Lu Acquista                                    Age: 47                                   Escondido, CA

    SUMMARY OF CHARGES

    Wire Fraud – Title 18, U.S.C., Section 1343

    Maximum penalty: Twenty years in prison and $250,000 fine

    INVESTIGATING AGENCY

    Federal Bureau of Investigation 

    MIL Security OSI –

    January 24, 2025
  • MIL-OSI Security: Federal Prisoner Indicted for Assaulting Correctional Officer at FCI Herlong

    Source: Office of United States Attorneys

    SACRAMENTO, Calif. — A federal grand jury returned a single count indictment today against Hewer Berlany Santos, 29, of Los Angeles, charging him with assaulting a federal officer, United States Attorney Phillip A. Talbert announced.

    According to court documents, on or about Aug. 21, 2023, Santos assaulted a federal correctional officer while the officer was working at a United States federal prison located in Herlong, California.  The assault caused the officer bodily injury.

    This case is the product of an investigation by the Federal Bureau of Prisons and the Federal Bureau of Investigation. Assistant United States Attorney Haddy Abouzeid is prosecuting the case.

    If convicted, the defendant faces a maximum statutory penalty of twenty years in prison and a $250,000 fine. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables. The charges are only allegations; the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.

    MIL Security OSI –

    January 24, 2025
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