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  • MIL-OSI: Gadfin Ltd. and Israel Acquisitions Corp. Announce Entry into Definitive Business Combination Agreement, Bringing the Unmanned Aerial Delivery Company to Nasdaq

    Source: GlobeNewswire (MIL-OSI)

    TEL-AVIV, Israel, Jan. 27, 2025 (GLOBE NEWSWIRE) — Israel Acquisitions Corp. (NASDAQ: ISRL, ISRLU, ISRLW), (“ISRL”), a publicly-traded special purpose acquisition company, and Gadfin Ltd. (“Gadfin”), an Israeli technology company specializing in all-weather, long range, heavy-duty, drone delivery for essential cargo, today announced the entry into a definitive business combination agreement reflecting a total equity value of Gadfin of up to $200 million USD (the “Business Combination Agreement”). The combined company will trade on Nasdaq and leverage Gadfin’s innovative technology augmented with the expertise of the ISRL team.

    Through Gadfin’s patented technology, its unmanned aerial vehicles which are powered by hydrogen fuel cells can deliver medical supplies and other heavy-duty cargo to long-range destinations and in harsh weather conditions. Gadfin’s technology makes it possible to significantly improve logistics delivery in both civil uses and combat zones. Gadfin is well-positioned to be a leading player in drone cargo delivery.

    Upon completion of the transaction, Gadfin aims to achieve a great growth plan based on existing contracts and potential new wins.

    Transaction Details:

    • The Board of Directors of both ISRL and Gadfin have unanimously approved the Business Combination Agreement and signed voting support agreements in favor of the transaction.
    • Minimum net cash condition precedent to closing of $15 million.
    • The combined company’s staggered Board of Directors will initially be comprised of up to seven directors, of which one director will be nominated by ISRL and up to four directors will be nominated by Gadfin. Up to two additional directors will be mutually agreed. Existing Gadfin management will operate the combined company.
    • The parties anticipate completing the business combination in the second half of 2025, contingent upon satisfying all closing conditions, including shareholder approvals, regulatory consents, and compliance with legal and tax requirements.
    • Gadfin’s officers, directors, and >5% shareholders, as well as ISRL’s sponsor will enter into a 6-month lock-up agreement, followed by a gradual release mechanism, from the closing of the business combination.
    • At the closing of the transaction, Gadfin will be listed on Nasdaq in the United States.

    Izhar Shay, Chairman of ISRL’s Board of Directors: “This business combination agreement marks a significant milestone, aligning well with the vision we set forth when launching our SPAC. Gadfin’s innovative hydrogen-powered drones, capable of long-range, zero-emission deliveries, position the company to seize numerous growth opportunities in the drone logistics industry, both in the U.S. and globally. We believe this is an exceptional company to take to the Nasdaq.”

    Eyal Regev, Gadfin’s Founder and CEO: “We are thrilled to announce this business combination, marking a pivotal milestone for Gadfin and underscoring the confidence placed in us by leaders in the hi-tech and financial sectors in Israel and the United States. We deeply appreciate the trust and business expertise of the ISRL team, particularly Ziv Elul and Izhar Shay, whose strategic guidance and proven ability to scale businesses will be invaluable in driving Gadfin’s growth. Together, we are committed to accelerating technological innovation and expanding Gadfin’s global presence. Our gratitude also extends to the dedicated teams at Gadfin and ISRL for their tireless efforts in advancing this merger.”

    Advisors:

    Tiberius Capital Markets, a division of Arcadia Securities is acting as financial advisor to Israel Acquisitions Corp, with Reed Smith LLP, and Stuarts Humpries acting as legal advisors.

    Herzog, Fox, and Neeman is acting as legal advisor to Gadfin.

    About Gadfin Ltd.:

    Gadfin is a pioneering technology company revolutionizing the logistics and cargo delivery industry with its innovative hydrogen-powered drones. Specializing in long-range, heavy-duty, zero-emission aerial delivery, Gadfin provides cutting-edge solutions for time-critical, essential cargo transport, especially to less accessible areas. Gadfin’s proprietary technology is designed to address the evolving needs of sectors such as healthcare, logistics, and industrial supply chains, enabling efficient, sustainable, and reliable deliveries across urban and remote areas.

    Led by Eyal Regev, one of the earliest pioneers of the vertical take-off and landing (“VTOL”) cargo delivery vision, Gadfin’s comprehensive approach includes innovative VTOL design, state-of-the-art drone manufacturing, advanced operational platforms, and tailored support services, ensuring seamless integration into its clients’ logistics frameworks. Headquartered in Israel, Gadfin is pioneering the way in transforming how goods are transported, helping its partners meet the demands of the modern world while reducing environmental impact. Backed by prominent investors, SIBF VC (www.sibf.vc) and Gehr Group (www.gehr.com), Gadfin is poised to lead the charge in sustainable and efficient logistics solutions.

    About Israel Acquisitions Corp.:

    Israel Acquisitions Corp is a Cayman Islands exempted company incorporated as a blank-check company. Formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company intends to focus on high-growth technology companies that are domiciled in Israel, and that either carry out all or a substantial portion of their activities in Israel or have some other significant Israeli connection. The management team is led by Chairman, Izhar Shay, Chief Executive Officer, Ziv Elul, and Chief Financial Officer, Sharon Barzik Cohen.

    Forward-Looking Statements:

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding the proposed business combination ISRL and Gadfin, ISRL and Gadfin’s ability to consummate the transaction, the expected closing date for the transaction, the benefits of the transaction and the public company’s future financial performance following the transaction, as well as ISRL’s and Gadfin’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used herein, including any oral statements made in connection herewith, the words “anticipates,” “approximately,” “believes,” “continues,” “could,” “estimates,” “expects,” “forecast,” “future, ” “intends,” “may,” “outlook,” “plans,” “potential,” “predicts,” “propose,” “should,” “seeks,” “will,” or the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by both ISRL and its management, and Gadfin and its management, as the case may be, are inherently uncertain. Except as otherwise required by applicable law, ISRL disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. ISRL cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of ISRL. There may be additional risks that neither ISRL nor Gadfin presently know of or that ISRL or Gadfin currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Author and any of their affiliates, directors, officers and employees expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement to reflect events or circumstances after the date on which such statement is being made, or to reflect the occurrence of unanticipated events.

    Additional Information and Where to Find It:

    Additional information about the proposed business combination, including a copy of the business combination agreement, is disclosed in the Current Report on Form 8-K that ISRL filed with the SEC on January 27, 2025 and is available at www.sec.gov. In connection with the proposed transaction, the Company intends to file a registration statement, which will include a preliminary proxy statement/prospectus with the SEC. The proxy statement/prospectus will be sent to the stockholders of the Company. The Company and Gadfin also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of the Company are urged to read the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.

    No Offer or Solicitation:

    This communication is for informational purposes only and shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Business Combination. This communication shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom.

    Investor Contact:

    contact@israelspac.com

    The MIL Network –

  • MIL-OSI: Form 8.3 – [ International Paper Company]

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: Danske Bank A/S
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		  
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 International Paper Company
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 24 January 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 NO

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 10p ordinary
      Interests Short positions
      Number % Number %
    (1)   Relevant securities owned and/or controlled: 137,608 0.04    
    (2)   Cash-settled derivatives:     137,608 0.04
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        

            TOTAL:

    		 137,608 0.04 137,608 0.04

    All interests and all short positions should be disclosed.
    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    10p ordinary Buy      
    1300    		  

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    10p ordinary TRS Increasing a short position

    1300

    		  

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
                   

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit
             

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
           

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    None

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 27 January 2025
    Contact name: Kotryna Cinciuke
    Telephone number*: +37060405825

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    *If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel’s Market Surveillance Unit.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

    1Source: Statista

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

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

    For more information, please visit www.idexbiometrics.com

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

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

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

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

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

    The MIL Network –

  • MIL-OSI Economics: RBI announces measures to manage liquidity conditions

    Source: Reserve Bank of India

    On a review of current liquidity and financial conditions, the Reserve Bank has decided to conduct the following operations to inject liquidity into the banking system:

    1. OMO purchase auctions of Government of India securities for an aggregate amount of ₹60,000 crore in three tranches of ₹20,000 crore each to be held on January 30, 2025, February 13, 2025, and February 20, 2025

    2. 56-day Variable Rate Repo (VRR) auction for a notified amount of ₹50,000 crore to be held on February 7, 2025

    3. USD/INR Buy/Sell Swap auction of USD 5 billion for a tenor of six months to be held on January 31, 2025

    2. Detailed instructions for each operation shall be issued separately.

    3. The Reserve Bank will continue to monitor evolving liquidity and market conditions and take measures as appropriate to ensure orderly liquidity conditions.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2013

    MIL OSI Economics –

  • MIL-Evening Report: Trump’s ‘ethnic cleansing’ Gaza idea dismissed by analysts – rejected by Jordan, Egypt on ‘Day of Return’

    Asia Pacific Report

    UN President Donald Trump’s idea of mass expulsion of Palestinians in Gaza to Jordan and Egypt has been dismissed by analysts as unaccepable “ethnic cleansing” and rejected by the governments of both neigbouring countries.

    Middle East analyst Mouin Rabbani, a nonresident research fellow at the Middle East Council on Global Affairs and commentator specialising in Palestinian affairs and the Arab-Israeli conflict, said the US and Israel would “fail” over such a plan.

    President Trump’s suggestion had been to “clean out” Gaza and move 1.5 million Palestinians to Jordan and Egypt.

    “Even if [President Trump] applies pressure on Jordan and Egypt, I think their leaderships will recognise the price of going along with Trump is going to be much greater than the price of resisting him — in terms of the survival of their leaderships for participating in something like this,” Rabbani told Al Jazeera, referring to Trump’s plan as “ethnic cleansing”.

    The rebuttals to the Trump idea came as Gaza experienced an historic day with jubilant scenes as tens of thousands of Palestinians crossed the so-called Netzarim Corridor to return home in the north showing their determination to survive under the 15-month onslaught by Israel’s military.

    Al Jazeera journalist Tamer al-Misshal said it was a “significant and historic moment” for the Palestinians.

    “It’s the first time since 1948 those who have been forced out of their homes and land managed to get back — despite the destruction and despite the genocide,” he said.

    He quoted one Palestinian man who returned as saying he would erect a tent on his destroyed home, “which is much better than being forcibly displaced from Gaza”.

    Al-Misshal noted Hamas recently said 18 more Israeli captives were alive and would be returned each Saturday in exchange for Palestinian prisoners over the next few weeks.

    He said the next main step was to get the Rafah land crossing opened so aid could flow and thousands of badly wounded Palestinians could get medical treatment abroad.

    ‘Blanket refusal’

    Analyst Mouin Rabbani . . . “Israel is not going to succeed in ethnically cleansing the Gaza Strip after a war.” Image: Middle East Council on Global Affairs

    Analyst Mouin Rabbani told Al Jazeera about the Trump displacement idea: “This isn’t going to happen because Israel is not going to succeed in ethnically cleansing the Gaza Strip after a war, after having failed to do so during a war.”

    When former US Secretary of State Antony Blinken went on a tour of Arab states to promote this idea late last year, he had been met with a “blanket refusal”, Rabbani added.

    Meanwhile, in Tel Aviv Prime Minister Benjamin Netanyahu was feeling the heat from his coalition partners over the ceasefire deal who view the Israeli leader as succumbing to US demands, the analyst said.

    “I think there’s a kind of a mix of personal, political and ideological factors at play,” Rabbani said.

    “Day of victory” . . . How Al Jazeera reported the return of Palestinians to north Gaza today. Image: AJ screenshot APR

    “But ultimately, I think the key relationship to look at here is not that between Netanyahu and his coalition partners, or between Israelis and Palestinians, but between Washington and Israel — because Washington is the one calling the shots, and Israel has no choice but to comply.”

    A senior Hamas official, Basem Naim, has described the “return” day as “the most important day in the current history of this conflict”.

    He said that Israel was “for the first time” obliged to allow Palestinians to return to their houses after being forced “by the resistance”, in a similar way that it was “forced to release” Palestinian prisoners.

    Al Jazeera’s Hani Mahmoud reporting on the “Day of Return” for Palestinians going back to north Gaza. Image: AJ screenshot APR

    ‘Very symbolic day’ in conflict
    “This is, I think, a very symbolic day,” he said. “This is a very important day in how to approach this conflict with the Israelis, which language they understand.”

    Naim also reaffirmed Hamas’s commitment to the ceasefire agreement and said the group was “ready to do the maximum to give this deal a chance to succeed”.

    He also accused Netanyahu and the Israeli government of playing “dirty games” in a bid to “sabotage the deal”.

    Jordanian officials have rejected President Trump’s “clean out” Gaza suggestion with
    Jordanian Foreign Minister Ayman Safadi saying that all talk about an alternative homeland for the Palestinians was rejected and “we will not accept it”.

    Al Jazeera’s Tareq Abu Azzoum reports from Salah al-Din Road, Gaza. Image: AJ screenshot APR

    He said any attempt to displace Palestinians from their land would not bring security to the region.

    The Jordanian House of Representatives said: “The absurdity and denial of Palestinian rights will keep the region on a simmering and boiling plate.”

    Jordan would not be an alternative homeland for displacement attempts against “the patient Palestinian people”.

    In Cairo, the Foreign Ministry reaffirmed in a statement Egypt’s “continued support for the steadfastness of the Palestinian people on their land.”

    It “rejected any infringement on those inalienable rights, whether by settlement or annexation of land, or by the depopulation of that land of its people through displacement, encouraged transfer or the uprooting of Palestinians from their land, whether temporarily or long-term.”

    The 1948 Nakba . . . more than 750,000 Palestinians were forced to leave their homeland and become exiles in neighbouring states and in Gaza. Many dream of their UN-recognised right to return. Image: Wikipedia

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Asia-Pac: Sha Tin residential site sold

    Source: Hong Kong Information Services

    The tender for a residential site in Sha Tin has been awarded on a 50-year land grant at a premium of $606 million, the Lands Department announced today.

    Sha Tin Town Lot No. 651 at Mei Tin Road in Tai Wai was awarded to Forum Pacific, a subsidiary of Sun Hung Kai Properties.

    It has a site area of about 3,600 sq m and is designated for private residential purposes.

    The site’s minimum and maximum gross floor area are 10,800 sq m and 18,000 sq m.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Traffic measures to be implemented

    Source: Hong Kong Information Services

    To facilitate festive events occurring on the first two days of the Lunar New Year, the Government will roll out special traffic and transport arrangements at various locations on Hong Kong Island and in Kowloon.

    In connection with the International Chinese New Year Night Parade due to be held in Tsim Sha Tsui at 8pm on January 29, the first day of the Lunar New Year, special traffic arrangements will be implemented in phases starting from 3.30pm that day. They will remain in place until the crowd has dispersed and the roads are safe for re-opening.

    During this period, the Star Ferry Bus Terminus and the China Ferry Terminal Bus Terminus will not be operational. On-street parking will be suspended, and pick-up/drop-off areas and carparks will be closed.

    With regard to the Lunar New Year fireworks display, which will be staged at 8pm on January 30, Police will enforce crowd safety management measures and special traffic arrangements on both sides of Victoria Harbour starting from 5pm.

    In addition, the Marine Department will implement marine traffic control measures and strengthen inspections of spectator vessels to ensure that safety requirements are met.

    MIL OSI Asia Pacific News –

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

    Source: Hong Kong Government special administrative region

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

    MIL OSI Asia Pacific News –

  • MIL-OSI Economics: CBDC requires interoperability, privacy protection, robust infrastructure, and clear benefits of use to become currency in future, says GlobalData

    Source: GlobalData

    CBDC requires interoperability, privacy protection, robust infrastructure, and clear benefits of use to become currency in future, says GlobalData

    Posted in Banking

    Retail central bank digital currency (CBDC) development projects continue to face significant hurdles before achieving large-scale implementation. Key challenges include ensuring system interoperability with existing payment methods and currencies worldwide, addressing privacy concerns in advanced economies, and overcoming infrastructure limitations in emerging economies, according to GlobalData, a leading data and analytics company.

    GlobalData’s latest report, “The State of Central Bank Digital Currencies in 2025 and Beyond,” highlights that retail CBDCs fail to address real consumer needs or pain points meaningfully. Furthermore, they offer no clear tangible benefits that would drive user adoption.

    Blandina Szalay, Banking and Payments Analyst at GlobalData, comments: “The very limited uptake of CBDC in countries where it fully launched – in the Bahamas, Jamaica, the Eastern Caribbean Currency Union, and Nigeria – can be attributed to the lack of compelling incentives for consumers to switch to CBDCs from the payment methods they are already used to.”

    With habit and convenience being the dominant factors influencing payment tool choices globally for both in-person and online payments, central banks will require either robust incentive schemes or mandates to achieve a widespread adoption of their digital currencies. In countries already operating CBDCs, consumers have expressed that using CBDCs and their associated wallets has introduced additional friction to existing payment processes without offering sufficient benefits. Critics from other CBDC-piloting countries echo these sentiments.

    Szalay continues: “Achieving critical mass in CBDC adoption, however, will be necessary to reap any advantages initially proposed by central banks. These could include driving domestic payment system innovation, improving cross-border payment efficiencies, fostering financial inclusion, and newfound financial and monetary stability in emerging economies by formalizing their economies via CBDC.”

    Most recently, the Bank of England (BoE) unveiled its digital pound lab, a testing sandbox aimed at addressing key challenges such as interoperability, or absence of clear use cases and lack of viable business models. These issues are set to be tackled throughout 2025, before the decision on a wider launch is made.

    Szalay concludes: “As national governments keep allocating resources towards their ongoing CBDC projects, they should also consider the level of their citizens’ openness and willingness to use the central bank’s digital currency in their everyday lives. Should incentives prove insufficient, and governments have to turn to mandates, it will only reinforce critics’ concerns that CBDCs are a tool for asserting domestic and international control.”

    MIL OSI Economics –

  • MIL-OSI Economics: Hydrogen economy development enters critical phase, says GlobalData

    Source: GlobalData

    Hydrogen economy development enters critical phase, says GlobalData

    Posted in Oil & Gas

    The hydrogen economy has recently experienced some hiccups in its growth story. Apparently, demand for this commodity is not rising at the pace it was envisaged back in 2020 when companies had aggressively announced their energy transition plans. As more industries, such as steel, transportation, and power, try to decarbonize their operations, the demand for low-carbon hydrogen is expected to grow. Nevertheless, the hydrogen economy is currently in its critical phase of its development, says GlobalData, a leading data and analytics company.

    GlobalData’s thematic report, “Hydrogen,” reveals that about 83% of the low carbon hydrogen capacity coming online by 2030, is expected to come from green hydrogen plants, while the remainder is from blue hydrogen. Purple and turquoise hydrogen capacities are anticipated to be miniscule. Only about 2% of the total expected capacity by 2030 is currently operational.

    Ravindra Puranik, Oil and Gas Analyst at GlobalData, comments: “Low-carbon hydrogen is set to occupy a crucial role in the decarbonization efforts of several energy-intensive industry verticals. As hydrogen is an essential feedstock in downstream oil and gas processes, switching to low-carbon hydrogen would help companies reduce their emissions footprint. It also has massive potential in the transportation sector, especially in marine and heavy vehicle applications, due to its energy density properties.”

    Conventionally, hydrogen has been consumed in the oil and gas industry as a reagent in the refining sector and as a feedstock in the petrochemical sector. The demand from the oil and gas industry will remain the dominant driver for hydrogen in the foreseeable future. Additional demand for this commodity is expected to emerge from industries such as metallurgy, power generation, and transportation.

    Puranik continues: “There has been a significant jump in low-carbon hydrogen project announcements in the last few years as industries unveiled plans to decarbonize their operations. Nearly 75% of these projects are in the feasibility stage of development. This reflects the momentum in new plant announcements within this market to reap from the global energy transition.”

    Blue and green hydrogen production offers particularly promising growth potential for oil and gas companies pursuing energy transition. Companies are investing in this energy source for their long-term goals, with a preference for green hydrogen.

    Puranik concludes: “Several oil and gas companies have announced new blue and green hydrogen plants, which are expected to be operational by 2030. Nevertheless, there is a need for the hydrogen distribution network to expand at scale, which includes the addition of new pipelines. The current scenario signals a critical phase for the development of the global hydrogen economy. Its fate and momentum in the coming years will be decided by how things pan out in the near future.”

    MIL OSI Economics –

  • MIL-OSI Video: Open Forum: Empowering Bytes | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    In an increasingly digital world where over 5 billion people are online and the average person spends more than six hours a day on the internet, safety and accountability must extend beyond the physical realm.

    What principles and practical approaches are needed to identify and reduce digital risks, prevent harm and promote trust and safety online?

    Speakers: Peter Lucas Kaaka Jones, Amanda Graf, Helena Leurent, Lauren Woodman, Bilel Jamoussi

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
    X ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=HD6psXySlyU

    MIL OSI Video –

  • MIL-OSI Video: Lift off for Tech Interdependence? | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    As the technology ecosystem evolves, encompassing advancements in AI, biotechnology, edge computing, robotics and beyond, the interdependence of these technologies presents immense opportunities and complex challenges.

    How can we pave the way for unprecedented growth and innovation in our interconnected future?

    Speakers: Hiroaki Kitano, Cristiano Amon, Aiman Ezzat, Jeremy Jurgens, Magdalena Skipper, Aidan Gomez

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
    X ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=Mogyc3UAku0

    MIL OSI Video –

  • MIL-OSI United Kingdom: Solar Together returns – residents can boost renewable energy generation, cut carbon emissions and save on bills with solar panel initiative

    Source: St Albans City and District

    Publication date:

    Residents of Hertfordshire are coming together to invest in renewable energy sources through a group-buying scheme for solar panels and battery storage.

    Solar Together helps homeowners feel confident they are paying the right price for a high-quality installation from qualified installers.

    Residents, including those from St Albans District, can join the group-buying scheme which offers solar panels with optional battery storage and EV charge points.

    There is also an option to acquire retrofit battery storage for residents who have already invested in solar panels and are looking to get more from the renewable energy they generate. 

    The scheme allows homeowners to increase their independence from the national grid. 

    It is free to register here from Monday 27 January and there is no obligation to go ahead with an installation.

    St Albans City and District Council (SADC) is working in partnership with Hertfordshire County Council and  iChoosr, experts in sustainable energy transition, to make the move to clean energy as cost-effective and hassle-free as possible. 

    Councillor Raj Visram, SADC’s Lead for Climate, said:

    One of our priorities as a Council is to tackle the climate emergency and encourage the District to become net zero by 2030.

    Our involvement with the Solar Together scheme is one of the many actions we are taking to achieve these goals.

    The feedback we have received from residents who have taken advantage of the offer in previous years has been highly positive. Residents in St Albans District have been among the most enthusiastic in the county.

    I urge any interested householder who has yet to make a Solar Together enquiry, to do so now. They can potentially cut harmful emissions and save money on their energy bills at the same time.

    SADC and other Councils enable the scheme and do not benefit financially in any way. 

    Solar Together, which has already proven to be a hit across the county, operates like this:

    1. Householders can register online to become part of the group for free and without obligation. 

    2. Approved UK solar PV suppliers participate in a reverse auction. They are able to offer competitive pricing as the volume and geographic concentration makes it possible for them to realise greater efficiencies, which they pass on with lower prices for installations. 

    3. After the auction, registered households will be emailed a personal recommendation which is specific to the details they submitted in their registration. 

    4. If they choose to accept their recommendation, the specifics of their installation will be confirmed with a technical survey after which a date can be set for the installation of their solar PV system. 

    5. Telephone and email help desks are on-hand throughout the whole process which, together with information sessions, will allow households to make an informed decision in a safe and hassle-free environment. 

    Marie-Louise Abretti, Solar Together UK Business Manager, said:

    With energy prices continuing to fluctuate, residents of Hertfordshire are looking for opportunities to reduce their carbon emissions, save on energy bills, and increase their independence from the grid. 

    The Solar Together group-buying scheme offers a straightforward way to make an informed decision and to access a competitive offer from a trusted, vetted provider.

    iChoosr has been collaborating with UK councils since 2015 on its Solar Together scheme, aiming to accelerate the energy transition nationwide. The initiative aims to encourage residents to partake in the collective purchase of solar PV and battery storage systems.

    To date, Solar Together has installed over 16,480 solar panels in Hertfordshire, reducing carbon emissions by 31,180 tonnes over 25 years – equivalent to 17,000 cars off the road in that time.

    iChoosr’s schemes have been delivered in partnership with local authorities in five countries. More than 200 schemes have led to 185,000 residents installing solar PV systems. 

    Media contact:  John McJannet, Principal Communications Officer: 01727- 819533; john.mcjannet@stalbans.gov.uk.
     
    About Solar Together

    The Solar Together scheme, delivered by iChoosr, is a group-buying initiative that enables households and businesses to purchase solar panels at a competitive price. By teaming up with local authorities, the scheme is able to leverage the collective buying power of residents to negotiate better rates from trusted solar panel providers. This not only helps to make solar energy more accessible and affordable but also supports the UK’s goal of achieving net-zero emissions by 2050. Solar Together is currently responsible for 10% of MCS-certified (Microgeneration Certification Scheme) solar panel installations in England – the independent certification scheme that certifies microgeneration (renewable energy) products and installers.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: North West Angling Fair to return to banks of the Mourne in March

    Source: Northern Ireland – City of Derry

    North West Angling Fair to return to banks of the Mourne in March

    27 January 2025

    Strabane is set to play host to thousands of fishing enthusiasts in March when the North West Angling Fair returns to the Melvin Sports Complex.

    The annual celebration of angling will host some of the UK and Ireland’s leading fly dressers, casters and angling specialists and the programme will include professional casting and fly fishing demonstrations on the River Mourne.

    The public will also have the opportunity to source angling merchandise from a wide range of fishing tackle producers, fly tying brands and fishing outfitters in the Melvin’s Main Hall.
    The event is organised by Derry City and Strabane District Council with support from the Loughs Agency.
    Mayor of Derry and Strabane, formally announced Saturday 29th and Sunday 30th of March as the dates for the event on the Strabane foot bridge on the River Mourne this week.
    “The North West Angling Fair will bring thousands of visitors to Strabane in a celebration of everything that makes angling such a unique and rewarding pastime,” she said.
    “Whether you’re a complete beginner looking to try something new or an experienced angler eager to refine your skills, this event has something for everyone.
    “From expert demonstrations and technique masterclasses to sourcing the latest equipment, it’s a great opportunity to share ideas and connect with others who share a passion for angling.”
    Festival and Events Officer at Council, Helena Hasson, said the full programme will be released in the coming weeks.
    “We are looking forward to welcoming an internationally renowned lineup of fly dressers, casters, and instructors to this year’s event,” she said.
    “The programme will feature demonstrations on the pitches at the Melvin and on the Mourne as well as talks and fly tying demos inside the Melvin where a diverse range of traders will be exhibit in the Main Hall.
    “We will also showcase and celebrate the many young people in our region who take part in angling and create opportunities for young people who are new to fishing.”
    Sharon McMahon, Loughs Agency CEO, said: “We’re delighted to once again support Derry City and Strabane District Council in delivering one of the most anticipated events on the angling calendar, right here in the North West.
    “Angling has played a vital role within our communities, providing enjoyment, tradition, and opportunities for generations.

    “Our Fisheries and Angling Improvement Strategy underscores our commitment to enhancing angling experiences for everyone in our catchments, ensuring the sport continues to thrive.

     “We are excited to welcome both seasoned anglers and newcomers alike to what is sure to be a fantastic event on the banks of the Mourne in March.”
    Council are currently accepting applications from individuals, businesses and organisations interested in trading at the fair.
    You can apply online at https://bit.ly/42bEbnR and the deadline for submission is Friday 31st January at midday.
    Any queries relating to the application can be sent to [email protected].
    For updates and programme information on the North West Angling Fair visit www.derrystrabane.com/anglingfair and follow Northwestangling on facebook.

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Are high-rise buildings meeting London’s housing needs?

    Source: Mayor of London

    London has more than four times as many homes in high-rise buildings compared to the English average,1 and the Mayor’s London Housing Strategy supports a shift to “higher density development through new design-led density policies”.2

    But what is the impact of high-rise housing on communities, the environment, and the health and wellbeing of residents?

    Tomorrow, the London Assembly Planning and Regeneration Committee will ask guests from industry and the London Tenants Federation about issues including residents’ experiences of living in tall buildings and how they vary among different groups, the characteristics of successful tall buildings, and the extent to which high-rise buildings meet Londoners’ housing needs.

    The guests are:

    Panel 1 – 10am – 11.15am:

    • Stuart Baillie, Partner and Head of Planning, Knight Frank
    • Russell Whitehead, Director, Robert Bird Group
    • Chris Edgington, Associate Director – Building Services, ARUP

    Panel 2 – 11.30am – 12.30pm:

    • Kath Scanlon, Distinguished Policy Fellow and Deputy Director, LSE London
    • Pat Turnbull, Regional Delegate, London Tenants Federation

    The meeting will take place on Tuesday 28 January from 10am, in the Chamber at City Hall, Kamal Chunchie Way, E16 1ZE.

    Media and members of the public are invited to attend.

    The meeting can also be viewed LIVE or later via webcast or YouTube.

    Follow us @LondonAssembly.

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Identity fraud: BaFin warns consumers against offers on websites zinsify.de and smbcgroup.asia

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority BaFin warns consumers against offers on websites zinsify.de and smbcgroup.asia. According to information available to BaFin, banking transactions and financial services are being provided on these websites without the required authorisation. The services are not actually offered by SMBC Bank EU AG. This is a case of identity fraud by unknown perpetrators.

    Anyone conducting banking business or providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the required authorisation. Information on whether companies have been authorised by BaFin can be found in BaFin’s database of companies.

    The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

  • MIL-OSI Asia-Pac: Severe case of influenza A infection in unvaccinated infant reported

    Source: Hong Kong Government special administrative region

    Severe case of influenza A infection in unvaccinated infant reported
    Severe case of influenza A infection in unvaccinated infant reported
    ********************************************************************

         The Centre for Health Protection (CHP) of the Department of Health today (January 27) received a report of a case of severe paediatric influenza A infection in a baby girl who had not yet received the seasonal influenza vaccination (SIV). She is still hospitalised and in serious condition. The CHP urged the public who have not yet received the SIV to act immediately to minimise the risk of serious complications and death after infection.                “The 10 month-old girl with good past health developed a fever, cough and seizure since January 23. She attended the Accident and Emergency Department of United Christian Hospital on the same day and was admitted to the paediatric intensive care unit immediately. Her nasopharyngeal swab specimen tested positive for the influenza A (H1) virus upon laboratory testing. The clinical diagnosis was influenza A infection complicated with encephalitis,” a spokesman for the CHP said.     The girl had no travel history during the incubation period. One of her household contacts had upper respiratory symptoms prior to her disease onset. An initial investigation revealed that she did not receive 2024/25 SIV. The CHP reiterated its call to the parents to bring their children to receive an SIV as soon as possible.                “Including the above-mentioned baby girl, the CHP has recorded five cases of severe influenza virus infection in children since the start of this influenza season in early January, four of whom were unvaccinated. Influenza vaccination has been scientifically proven to be one of the most effective ways to prevent seasonal influenza and its complications, while significantly reducing the risk of hospitalisation and death from seasonal influenza. All persons aged 6 months and above (except those with known contraindications) who have not yet received SIV should act immediately, particularly the elderly and children who have a higher risk of becoming infected with influenza and developing complications,” the spokesman said.                The spokesman reminded the public that Hong Kong has entered the influenza season. The seasonal influenza activity is expected to increase further while the activity of other respiratory infectious diseases may also increase. To protect their health and that of their family members, the public should not only receive the SIV, but also maintain good personal and environmental hygiene, and take the following measures to prevent contacting influenza and other respiratory illnesses: 

    Patients can wear surgical masks to prevent transmission of respiratory viruses. Therefore, it is essential for persons who are symptomatic (even if having mild symptoms) to wear a surgical mask;
    High-risk persons (e.g. persons with underlying medical conditions or persons who are immunocompromised) should wear surgical masks when visiting public places. The general public should also wear a surgical mask when taking public transport or staying in crowded places. It is important to wear a mask properly, including performing hand hygiene before wearing and after removing a mask;
    Avoid touching one’s eyes, mouth and nose;
    Wash hands with liquid soap and water properly whenever possibly contaminated;
    When hands are not visibly soiled, clean them with 70 to 80 per cent alcohol-based handrub;
    Cover the mouth and nose with tissue paper when sneezing or coughing. Dispose of soiled tissue paper properly into a lidded rubbish bin, and wash hands thoroughly afterwards;
    Maintain good indoor ventilation;
    When having respiratory symptoms, wear a surgical mask, consider refraining from going to work or school, avoid going to crowded places and seek medical advice promptly; and
    Maintain a balanced diet, perform physical activity regularly, take adequate rest, do not smoke and avoid overstress.

         For the latest information, members of the public can visit the CHP’s seasonal influenza and COVID-19 & Flu Express webpages. 

     
    Ends/Monday, January 27, 2025Issued at HKT 19:27

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: ORO reports incident involving loss of backup tapes

    Source: Hong Kong Government special administrative region

    ORO reports incident involving loss of backup tapes
    ORO reports incident involving loss of backup tapes
    ***************************************************

         A spokesman for the Official Receiver’s Office (ORO) said today (January 27) that the department attaches the utmost importance to an incident involving the loss of magnetic backup tapes and expresses sincere apologies.      The ORO received a report on January 22, and confirmed upon investigation that seven magnetic backup tapes were lost during their transit from Immigration Tower to Queensway Government Offices by ORO staff on December 23, 2024, in the ordinary course of transfer, to comply with the disaster recovery backup procedures. The incident has been reported to the relevant authorities including the Hong Kong Police Force, the Office of the Privacy Commissioner for Personal Data, the Security Bureau and the Digital Policy Office (DPO).      As the magnetic backup tapes are stored in a locked protective case and the data therein is encrypted with AES-256 encryption which is a highly secure encryption algorithm used extensively in government and military applications, as well as by business operating in highly regulated industries. Having consulted the DPO, the ORO considers that the risk of leakage of personal data from the tapes is extremely low. Based on the current investigation, there is no evidence that the data contained on the tapes has been read or compromised. The tapes contained personal data of about 76 000 individuals, including creditors of insolvency cases and serving staff of the ORO. The ORO is sending notifications to the relevant individuals by batch.                     The ORO is extremely concerned about the incident and has taken immediate action to review all transit procedures and data protection practices, and has refined the procedures with immediate effect. The ORO is also conducting a thorough investigation into the staff concerned and details of the incident, including the delay in reporting the loss to senior management. Appropriate disciplinary actions will be taken.      The ORO attaches great importance to safeguarding government property and personal privacy and has reminded staff to comply with the departmental guidelines and exercise due care in handling personal data. The ORO will also review all guidelines on data security and examine the adoption of safer and more effective backup methods and procedures.      The ORO expresses sincere apologies for the loss and for the delay in reporting the incident. For enquiries, please call the ORO at 2867 2448 or email to oroadmin@oro.gov.hk.

     
    Ends/Monday, January 27, 2025Issued at HKT 19:30

    NNNN

    MIL OSI Asia Pacific News –

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

    Source: Eurojust

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

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

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

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

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

    The following authorities were involved in the actions:

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

    MIL Security OSI –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

    SOURCE: Range Resources Corporation

    Range Investor Contacts:

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

    The MIL Network –

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

    Source: Reserve Bank of India

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

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2011

    MIL OSI Economics –

  • MIL-OSI United Kingdom: A catalogue of errors

    Source: United Kingdom – Executive Government & Departments

    The case of K & B Haulage Limited, recently heard by the Traffic Commissioner for the West of England, Kevin Rooney, has revealed a series of serious compliance failures affecting the company’s restricted goods vehicle operator’s licence.

    The licence itself had already been downgraded from standard international.

    The public inquiry uncovered severe and persistent compliance failings, jeopardising road safety and undermining fair competition.

    The commissioner’s findings included tax and MOT violations, where multiple vehicles were operated without valid tax or MOTs for extended periods and maintenance shortcomings with infrequent safety inspections – with some vehicles operating in dangerous conditions, including one driven with three bald tyres after being declared unroadworthy. Driver hours were mismanaged, and tachograph downloads were delayed by up to 237 days, with drivers failing to record required manual entries.

    On top of this, a there was a lack of oversight from former transport manager Richard Simcox who failed to fulfil basic compliance duties, contributing to widespread operational failings and a culture of non-compliance.

    The operator also engaged in subcontracting work to a company without the required operator’s licence, violating legal requirements, and Mr. Gettings admitted to lying during a DVSA investigation and failed to cooperate with vehicle inspections.

    Commissioner Rooney said “The compliance shortcomings alone with vehicles untaxed, untested and un-inspected, the lack of any drivers’ hours management or working time, mean that this is not a business I can have any confidence will be compliant in the future. The operation has been so dangerous that it must come to an end… The shortcomings I have found reflect a recklessness on the part of the operator, and a recklessness that is shown still to persist by the actions in October. Road safety has been compromised and the use of a Ltd Company driver is unfair competition.”

    The commissioner determined that K & B Haulage Limited was no longer fit to hold an operator’s licence. The company’s licence has been revoked, and its director, Kyle Gettings, has been disqualified as an operator for a period of two years. Transport manager Richard Simcox has also lost his good repute and been disqualified for an extended period.

    More details can be found here.

    For any further details or enquiries, please contact: pressoffice@otc.gov.uk

    Updates to this page

    Published 27 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Change of His Majesty’s Ambassador to the Republic of Costa Rica and to the Republic of Nicaragua: Edward Roberts

    Source: United Kingdom – Executive Government & Departments 3

    Mr Edward Roberts has been appointed His Majesty’s Ambassador to the Republic of Costa Rica, and His Majesty’s non-resident Ambassador to the Republic of Nicaragua, in succession to Mr Ben Lyster-Binns.

    Mr Edward Roberts has been appointed His Majesty’s Ambassador to the Republic of Costa Rica, and His Majesty’s non-resident Ambassador to the Republic of Nicaragua, in succession to Mr Ben Lyster-Binns, who will be transferring to another Diplomatic Service appointment.

    Mr Roberts will take up his appointment during autumn 2025.

    Curriculum vitae

    Full name: Edward John Roberts

    Year Role
    2025 Pre-posting training (including Spanish language training)
    2023 to 2024 FCDO, Europe Group, Directorate Flexible Resource
    2022 to 2023 College of Europe, Bruges, MA in EU International Relations and Diplomacy Studies
    2019 to 2022 Kathmandu, Deputy Ambassador
    2017 to 2019 Department for Exiting the European Union, Policy Manager, Security Partnership
    2016 to 2017 Cabinet Office, Senior Policy Adviser, Migration and EU Asylum Cooperation
    2013 to 2016 Kinshasa, Consul and Second Secretary Political and Prosperity
    2011 to 2013 FCO, Desk Officer, EU Institutions and Treaty Change Bill
    2010 to 2011 European Commission, Brussels, DG AIDCO, Seconded National Expert, Human Development and Migration
    2009 to 2010 Department for Education, Policy Officer, Early Years Improvement Support
    2008 to 2009 Brussels, European Commission, DG AIDCO, Stagiaire, Human Development and Migration
    2007 to 2008 Department for Education, Policy Officer, Education and Skills Bill
    2006 to 2007 Department for Education, Policy Officer, Strategy for Learners with Learning Difficulties
    2006 Joined the Civil Service Fast Stream

    Media enquiries

    Email newsdesk@fcdo.gov.uk

    Telephone 020 7008 3100

    Contact the FCDO Communication Team via email (monitored 24 hours a day) in the first instance, and we will respond as soon as possible.

    Updates to this page

    Published 24 January 2025

    MIL OSI United Kingdom –

  • MIL-OSI Asia-Pac: Appeal for information on missing woman in Tsing Yi (with photos)

    Source: Hong Kong Government special administrative region

    Appeal for information on missing woman in Tsing Yi (with photos)
    Appeal for information on missing woman in Tsing Yi (with photos)
    *****************************************************************

         Police today (January 27) appealed to the public for information on a woman who went missing in Tsing Yi.     Leung Shuk-wa, aged 37, went missing after she left her residence in Cheung Hong Estate this morning. His family then made a report to Police.         She is about 1.55 metres tall, 47 kilograms in weight and of medium build. She has a round face with yellow complexion and long black hair. She was last seen wearing a light-coloured jacket, khaki trousers and white sport shoes.     Anyone who knows the whereabouts of the missing woman or may have seen her is urged to contact the Regional Missing Persons Unit of New Territories South on 3661 1173 or 5217 5562 or email to rmpu-nts-2@police.gov.hk, or contact any police station.

     
    Ends/Monday, January 27, 2025Issued at HKT 18:50

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI: Finding the Best Wireless Modem for Rural America: Results are in, and Nomad Air 2 is 10X faster than Local DSL

    Source: GlobeNewswire (MIL-OSI)

    NEW BRAUNFELS, Texas, Jan. 27, 2025 (GLOBE NEWSWIRE) — Nomad Internet, a leader in providing high-speed internet solutions for rural America, has announced breakthrough results from a rigorous modem testing initiative led by Jaden Garza, CINO at Nomad Internet & Jessica Garza, Chief Operating Officer of Nomad Internet. The company’s new Nomad Air 2 Wireless Modem outperformed local DSL networks by over 10 times, achieving blazing-fast download speeds of 513 Mbps compared to the local DSL average of 39.6 Mbps in real-world rural environments.

    The tests, conducted in areas with zero traditional cell service, were designed to evaluate the performance of over a dozen wireless modems from leading manufacturers under real-world rural conditions. The results proved that the Nomad Air 2 is the best option for rural communities and a significant step forward in closing the digital divide.

    “This is game-changing for rural America,” said Jaden Garza, CINO at Nomad Internet. “We pushed these modems to their limits in places with no urban network advantages, and the Nomad Air 2 consistently delivered speeds faster than even some fiber networks. It’s a testament to our commitment to bringing high-speed, reliable internet to the last mile.”

    Real-World Results, Real Impact

    The testing process included hours of rigorous analysis and optimization by Garza and his team, with the Nomad Air 2 achieving a download speed of 513 Mbps—outshining all other modems tested.
    “This modem is a game-changer for rural or underserved people. It levels the playing field, providing access to affordable, high-speed internet for people who traditional providers have left behind,” added Jessica Garza.

    Partnerships Driving Innovation

    Nomad Internet credited partners like Inseego Corp, whose modem technology played a pivotal role in delivering these speeds, and Ookla, which provided the tools to measure this breakthrough.
    “We are grateful for the incredible work of Inseego Corp and partners like Ookla, whose technology makes advancements like this possible,” Mr. Garza said.

    Closing the Digital Divide

    The Nomad Air 2 represents Nomad Internet’s mission to close the digital divide, empowering rural communities with faster, more reliable, and more affordable connectivity than ever before. Whether it’s for work, education, or entertainment, this modem ensures no one is left behind.

    A Look Back at All the New Launches by Nomad Internet in 2025

    While the record-breaking modem speeds have taken center stage, Nomad Internet is also introducing new products and initiatives to enhance connectivity and customer engagement further.

    Nomad Omni Data

    One of the company’s most anticipated launches, Nomad Omni Data, redefines rural internet connectivity by offering simultaneous access to two of America’s largest networks.

    Key Features of Nomad Omni Data:

    • Dual-Network Access: The modem transitions to the most rapid and robust network signal.
    • Unlimited Data: Users experience limitless browsing, streaming, and gaming without concerns about data limits or throttling.
    • Blazing Speeds: Boasting download speeds reaching 1 Gbps, users enjoy smooth streaming, swift downloads, and gaming without interruptions.
    • Affordable Upgrade: For only $19.95/month, users can access the complete capabilities of dual-network power.

    This feature is ideal for rural families, digital nomads, and gamers who demand reliable, high-speed internet regardless of location.

    Unlimited Power Plan

    The Unlimited Power Plan has been designed by Nomad Internet for customers seeking unparalleled connectivity at an unbeatable value. This plan caters to modern, mobile lifestyles priced at $119.95 per month with a lifetime discount of $30.

    Features of the Unlimited Power Plan:

    • 500 Mbps Speeds: Say goodbye to buffering and enjoy ultra-fast connections for video calls, streaming, and more.
    • 8K Streaming: Experience unparalleled clarity for entertainment and content creation.
    • Low Latency: Competitive gamers can enjoy smooth, lag-free gameplay.

    The Unlimited Power Plan highlights Nomad Internet’s dedication to providing affordable, flexible solutions that enable users to remain connected regardless of location.

    #NomadSpeedChallenge

    Nomad Internet has introduced the #NomadSpeedChallenge to commemorate its progress, encouraging customers to post their internet speed results to win a year of complimentary Nomad Internet service.

    How to Participate:

    1. Test the Speed: Run a speed test using tools like Ookla or Fast.com.
    2. Capture the Results: Take a screenshot or record the speed test.
    3. Share the Experience: Post the results on social media platforms like X, Facebook, Instagram, or TikTok using the hashtags #NomadSpeedChallenge and #NomadInternet, and tag @NomadInternet.
    4. Submit the Entry: Upload the speed test and social media link to the official contest page.

    This initiative celebrates Nomad Internet’s achievements and builds a sense of community among users who rely on its services to power their digital lives.

    Empowering Connectivity in the Digital Age

    The industry leader in rural connectivity, Nomad Internet, released the Nomad Air 2 gadget and additional products, starting with the Unlimited Power Plan and Nomad Omni Data. Nomad Internet is dedicated to breaking down digital connectivity barriers and empowering individuals in rural and remote areas to enjoy the high-speed internet they need to succeed in today’s digital landscape.

    Jessica Garza emphasized that Nomad Internet delivers high-speed internet to the communities that need it most. “We are transforming possibilities for rural and nomadic populations through unprecedented modem speeds, creative data plans, or customer initiatives such as the #NomadSpeedChallenge.”

    About Nomad Internet

    Nomad Internet is America’s leading wireless internet provider for rural communities, delivering high-speed, reliable, and affordable connectivity to those in areas where traditional services fall short.

    For more information, visit www.nomadinternet.com.

    Media Contact

    Company Name: Nomad Internet

    Contact Person: Manish Roshan

    Email: manish@nomadinternet.com

    Website: https://nomadinternet.com

    Phone: +1 281 800 1000

    Disclaimer: This content is provided by the Nomad Internet. The statements, views, and opinions expressed in this column are solely those of the content provider. The information shared in this press release is not a solicitation for investment, nor is it intended as investment, financial, or trading advice. It is strongly recommended that you conduct thorough research and consult with a professional financial advisor before making any investment or trading decisions. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b9f5723c-5676-4c59-9960-f213d8175c52

    https://www.globenewswire.com/NewsRoom/AttachmentNg/738a6ea2-75fe-4998-8d85-0eb2ad6e1e7b

    https://www.globenewswire.com/NewsRoom/AttachmentNg/3d225766-a42d-4881-9678-5cb04c297ea1

    The MIL Network –

  • MIL-OSI: Embrace Change Acquisition Corp. Announces Entering into a Definitive Merger Agreement with Tianji

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Jan. 27, 2025 (GLOBE NEWSWIRE) — Embrace Change Acquisition Corp. (“Embrace Change”) (NASDAQ: EMCG, EMCGU, EMCGR), a publicly traded special purpose acquisition company, and Tianji Tire Global (Cayman) Limited (“Tianji,” or the “Company”), a leading tire manufacturer with operations mainly conducted by its subsidiaries based in mainland China, today announced that they have entered into a definitive merger agreement (the “Merger Agreement”) that will result in Tianji becoming a publicly listed company upon the closing of the transaction contemplated there in (the “Proposed Transaction”) on January 26, 2025. Upon closing, the combined company will be renamed “Tianji Tire Global Group (Cayman) Limited” (the “Combined Company”) and expects to list its Class A ordinary shares on Nasdaq.

    Tianji is a leading tire manufacturer with operations mainly conducted by its subsidiaries based in mainland China, specializing in the design, research and development, production and sales of tires, with a primary focus on all-steel, tubeless radial tires for medium- and short-distance transportation.

    Key Transaction Terms

    As provided in the Merger Agreement, the merger consideration is $450 million, payable by newly-issued securities of the Combined Company valued at $10.00 per share.

    Cash proceeds raised will consist of Embrace Change’s approximately $26 million in trust (assuming no redemptions by Embrace Change’s existing public shareholders) which is anticipated to support the Company’s growth capital needs and to be used for general working capital purposes. After the closing, Tianji shareholders are expected to retain a majority of the outstanding shares of the Combined Company and Tianji will designate a majority of proposed directors for the Combined Company’s board.

    The Tianji management team, led by its CEO Hailong Cheng, will continue to run the Combined Company after the closing of the Proposed Transaction.

    The boards of directors of Tianji, Embrace Change and Embrace Change’s two merger subsidiaries have unanimously approved the Proposed Transaction, which is expected to be completed in mid–2025, subject to, among other things, approval by Embrace Change’ and Tianji’ shareholders, and satisfaction (or waiver, as applicable) of the conditions provided in the Merger Agreement, including regulatory approvals and other customary closing conditions, including a registration statement in connection with the Proposed Transaction being declared effective by the U.S. Securities and Exchange Commission (the “SEC”).

    Additional information about the Proposed Transaction, including a copy of the Merger Agreement, will be provided in a Current Report on Form 8-K to be filed by Embrace Change with the SEC and available at www.sec.gov. Additional information about the Proposed Transaction will be described in the Registration Statement, which Embrace Change and/or its subsidiary will file with the SEC.

    Advisors

    Loeb & Loeb LLP, Ogier (Cayman) LLP and Beijing Dacheng Law Offices, LLP are serving as legal advisor to Embrace Change. Han Kun Law Offices LLP and Harney Westwood & Riegels are serving as legal advisor to Tianji.

    About Tianji

    Tianji is a leading tire manufacturer with operations mainly conducted by its subsidiaries based in mainland China, specializing in the design, research and development, production and sales of tires, with a primary focus on all-steel, tubeless radial tires for medium- and short-distance transportation. The Company’s collection of tires is curated under six renowned brands, namely the premium brand SEMES, the mid- to high-end brand Tianxin, the mass-market brands Lunaite, Aoben and GFT Rider, as well as the brand Kuangshan Jiuhao designed specifically for mining transportation. Each of these brands stands out in quality and technical performance characteristics with distinctive features and precise identities.

    Founded in 2020, Tianji has successfully established an extensive presence in China, and is continuing to expand its footprint nationwide to reach more potential customers.

    About Embrace Change Acquisition Corp.

    Embrace Change Acquisition Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.

    Additional Information and Where to Find It

    In connection with the Proposed Transaction, Embrace Change and/or its subsidiary will file with the SEC a Registration Statement on Form F-4 (as amended, the “Registration Statement”), which will include a proxy statement/prospectus. After the Registration Statement is declared effective, Embrace Change will send the proxy statement/prospectus and other relevant documents to its shareholders. This press release is not a substitute for the proxy statement/prospectus. INVESTORS AND SECURITY HOLDERS AND OTHER INTERESTED PARTIES ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT HAVE BEEN FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TIANJI, EMBRACE CHANGE, THE PROPOSED TRANSACTION AND RELATED MATTERS. The Registration Statement and any other relevant filed documents (when they are available) can be obtained free of charge from the SEC’s website at www.sec.gov. These documents (when they are available) can also be obtained free of charge from Embrace Change at https://www.Embrace Change.com/insights or upon written request at Embrace Change Acquisition Corp., 5186 CARROLL CANYON RD, SAN DIEGO, CA, 92121.

    Forward-Looking Statements

    This press release contains certain “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended. Statements that are not historical facts, including statements about the pending transactions described herein, and the parties’ perspectives and expectations, are forward-looking statements. Such statements include, but are not limited to, statements regarding the proposed transaction, including the anticipated initial enterprise value and post-closing equity value, the benefits of the proposed transaction, integration plans, expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the transactions. The words “expect,” “believe,” “estimate,” “intend,” “plan” and similar expressions indicate forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated.

    Such risks and uncertainties include, but are not limited to: (i) risks related to the expected timing and likelihood of completion of the pending business combination, including the risk that the transaction may not close due to one or more closing conditions to the transaction not being satisfied or waived, such as regulatory approvals not being obtained, on a timely basis or otherwise, or that a governmental entity prohibited, delayed or refused to grant approval for the consummation of the transaction or required certain conditions, limitations or restrictions in connection with such approvals; (ii) risks related to the ability of Embrace Change and the Company to successfully integrate the businesses; (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of the applicable transaction agreements; (iv) the risk that there may be a material adverse change with respect to the financial position, performance, operations or prospects of the Company or Embrace Change; (v) risks related to disruption of management time from ongoing business operations due to the Proposed Transaction; (vi) the risk that any announcements relating to the Proposed Transaction could have adverse effects on the market price of Embrace Change’s securities; (vii) the risk that the Proposed Transaction and its announcement could have an adverse effect on the ability of the Company to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally; (viii) the Company’s estimates of expenses and profitability; and (ix) risks relating to the Combined Company’s ability to enhance its services and products, execute its business strategy, expand its customer base and maintain stable relationship with its business partners.

    A further list and description of risks and uncertainties can be found in the Prospectus filed on August 9, 2022 relating Embrace Change’s initial public offering and in the Registration Statement and proxy statement that will be filed with the SEC by Embrace Change and/or its subsidiary in connection with the proposed transactions, and other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and Embrace Change, the Company and their subsidiaries undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

    No Offer or Solicitation

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the transactions described above and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Embrace Change or the Company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

    Participants in the Solicitation

    Embrace Change and the Company, and certain shareholders of Embrace Change, and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of Embrace Change ordinary shares in respect of the proposed transaction. Information about Embrace Change’s directors and executive officers and their ownership of Embrace Change ordinary shares is set forth in the Prospectus filed on August 9, 2022 and filed with the SEC as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of that filing. Other information regarding the interests of the participants in the proxy solicitation will be included in the Registration Statement/proxy statement pertaining to the proposed transaction when it becomes available. These documents can be obtained free of charge from the sources indicated above.

    Tianji and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of Embrace Change in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination will be included in the Registration Statement/proxy statement pertaining to the proposed transaction when it becomes available for the proposed business combination.

    Contacts:

    Embrace Change Acquisition Corp.
    contact@embracechange.top

    Tianji Tire Global (Cayman) Limited
    Ray Jin
    ray966@msn.com 

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    The MIL Network –

  • MIL-OSI: MEXC’s Insurance Fund Account Provides $414M+ to Mitigate Traders’ Bankruptcy Losses

    Source: GlobeNewswire (MIL-OSI)

     

    VICTORIA, Seychelles, Jan. 27, 2025 (GLOBE NEWSWIRE) — MEXC, a leading global cryptocurrency exchange, has provided over $414 million through its Insurance Fund Account to cover deficits that occur when users’ losses during liquidation exceed their available margin as of January 23, 2025. This impressive figure underscores MEXC’s commitment to asset security and risk mitigation. Combined with Proof of Reserve, MEXC offers traders robust protection against extreme market fluctuations.

     

    How MEXC’s Insurance Fund Account Mitigates Risk for Traders
    The MEXC Insurance Fund Account, launched in November 2024, is specifically designed to protect traders from extreme market fluctuations, such as those experienced during a bull run, where rapid price swings can lead to a user’s account value to dip below the required margin level, triggering a liquidation. Should the liquidation price be worse than expected, resulting in losses that exceed than the available margin (a scenario known as bankruptcy), the Insurance Fund steps in to cover these excess losses, thus facilitating a smoother liquidation process.

    The fund is continually replenished by surpluses generated from liquidation orders executed at better-than-expected prices, ensuring its stability and ongoing protection during periods of high volatility.

    In line with its commitment to transparency, MEXC provides users with direct access to both current and historical insurance fund amounts for various cryptocurrencies on the platform.

    In addition, MEXC provides Proof of Reserve to ensure asset safety and maintain transparency for its users. This allows users to trade with confidence, free from concerns about withdrawal runs. The reserve rates are updated every two months. As of Dec 1, 2024, the latest reserve rates for various cryptocurrencies are as follows:

    • USDT: 104.52%
    • USDC: 116.52%
    • BTC: 105.88%
    • ETH: 105.65%

     

    By offering high leverage alongside an Insurance Fund Account and Reserve Rate exceeding 100%, MEXC ensures multiple layers of protection to safeguard traders’ positions and ensure asset security.

    The Go-To Platform for Seamless Crypto Trading
    In addition to implementing robust safety measures to ensure a secure trading environment, the platform offers a variety of features and services designed to enhance the user experience. These features help traders minimize costs and maximize returns. MEXC is committed to empowering traders by enabling investments across the widest range of assets, ensuring safe and seamless transactions regardless of market conditions.

    • M – Most Trending Tokens: MEXC is known for its rapid token listings and diverse selection of popular tokens, helping users capitalize on emerging opportunities. To date, over 3,000 tokens have been listed on the platform.
    • E – Everyday Airdrops: MEXC makes it easy for users to engage in daily airdrop events and receive substantial rewards without complex procedures. In 2024, the platform completed 2,293 airdrop events, distributing over $136 million in rewards.
    • X – Xtremely Low Fees: MEXC offers highly competitive trading fees, helping users reduce costs and maximize their growth potential.
    • C – Comprehensive Liquidity: Backed by strong liquidity and market depth, MEXC ensures the efficient and seamless execution of every transaction, minimizing slippage even during volatile conditions.

    These features have helped MEXC attract over 30 million users across over 170 countries, establishing it as the platform of choice for an increasing number of traders around the world.

    Learn more about the MEXC Insurance Fund Account.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

    MEXC Official Website｜X｜ Telegram ｜How to Sign Up on MEXC

    Risk Disclaimer:
    The information provided in this article about cryptocurrencies does not represent MEXC’s official stance or investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully evaluate market fluctuations, project fundamentals, and potential financial risks before making any trading decisions.

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/e38abd1a-038c-4b15-9bd1-930ea95076bd
    https://www.globenewswire.com/NewsRoom/AttachmentNg/7973d05e-acf0-4aee-95b0-a1fb0e6c4a71
    https://www.globenewswire.com/NewsRoom/AttachmentNg/78296b51-e6d1-48cd-a47f-a0fbd90dd493

    The MIL Network –

  • MIL-OSI: Gate Ventures Joins Morph VC Collective to Accelerate Mainstream Blockchain Solutions

    Source: GlobeNewswire (MIL-OSI)

    PANAMA CITY, Jan. 27, 2025 (GLOBE NEWSWIRE) — Gate Ventures, the venture capital arm of Gate.io, is proud to announce its membership in the newly launched Morph Venture Capital Collective, a prestigious network of top-tier venture capital firms supporting cutting-edge consumer blockchain projects. This strategic partnership will enable Gate Ventures to further expand its portfolio in the blockchain space, particularly within the Morph ecosystem, which focuses on fostering the mass adoption of blockchain technology.

    The Morph VC Collective aims to connect promising blockchain projects with a diverse group of reputable venture capitalists, including Pantera Capital, Spartan Group, Foresight Ventures, and now, Gate Ventures. By joining this collaborative initiative, Gate Ventures will contribute to the collective’s mission to support sustainable growth for consumer blockchain applications, offering funding, strategic partnerships, and mentorship to accelerate the development and market access of emerging projects.

    “We’re excited to be part of the Morph VC Collective, a key initiative that aligns with our mission to support blockchain innovation,” said Kevin Yang, Managing Partner of Gate Ventures. “By collaborating with other leading VCs, we’re helping bridge the gap between groundbreaking blockchain projects and the resources they need to succeed. Morph’s ecosystem is primed to drive the next wave of consumer adoption, and we are proud to be part of this transformative movement.”

    Morph’s initiative will provide blockchain projects building in its ecosystem with invaluable exposure to top-tier investors and guidance to navigate the early stages of growth. Projects will be assessed based on technical feasibility, team composition, scalability, market potential, and more, ensuring that the most promising applications receive the support they need to thrive.

    As part of this collaboration, Gate Ventures will also have access to a curated pipeline of high-potential projects within the Morph ecosystem, further strengthening its commitment to identifying and nurturing the next generation of blockchain applications.

    “We’re excited to welcome Gate Ventures to the Morph VC Collective. Their addition further strengthens our network of strategic partners working to accelerate mainstream blockchain adoption. Together with our growing coalition of leading VCs, we’re building a robust support system that empowers teams to create impactful consumer applications.” said Cecilia Hsueh, CEO of Morph.

    With a strong focus on mass adoption, Morph’s innovative platform is designed to cater to mainstream audiences, including gamers and social media users, making it a perfect match for Gate Ventures’ investment philosophy. Together, the two entities aim to drive the widespread use of blockchain technology and revolutionize the way decentralized applications interact with everyday users.

    For more information on Gate Ventures’ involvement in the Morph VC Collective and the opportunities it provides to blockchain projects, visit www.gate.io/ventures.

    About Gate Ventures

    Gate Ventures, the venture capital arm of Gate.io, is focused on investments in decentralized infrastructure, middleware, and applications that will reshape the world in the Web 3.0 age. Working with industry leaders across the globe, Gate Ventures helps promising teams and startups that possess the ideas and capabilities needed to redefine social and financial interactions.

    About Morph

    Morph is the pioneering consumer layer, acting as the distribution hub for the resources builders need to launch and scale for the mass market. It leverages a hybrid solution of ZK and Optimistic roll-up technology and a decentralized sequencer to enable limitless possibilities within mainstream audiences, making it a user-friendly option for developers who require a chain to build these types of apps.

    Media Contact:
    Elaine Wang at elaine.w@gate.io

    Disclaimer
    The content herein does not constitute any offer, solicitation, or recommendation. You should always seek independent professional advice before making any investment decisions. Please be noted that Gate.io and/or Gate Ventures may restrict or prohibit the use of all or a portion of the services from restricted locations. For more information, please read its applicable user agreement.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aaa70831-c1f4-4497-bdbb-4ef3b74f8192

    The MIL Network –

  • MIL-OSI NGOs: What do trade unions have to do with human rights?

    Source: Amnesty International –

    Trade unions are critical to protecting and promoting human rights including economic, social, and cultural rights and the right to be free from discrimination.

    First, they play a key role through negotiations with employers and collective action in supporting workers’ rights. In so doing, unions balance the scales of power, ensuring that workers are in a position to advocate for their rights, and holding those who run wealthy and powerful companies to account.

    Second, the benefits of trade unions go far beyond the workplace. Unions are the fuel that keeps the fires of social justice and people power burning so that workers’ rights are respected and protected by law. Throughout history, unions have been the driving force behind calls on governments and employers to acknowledge and prevent human rights abuses that are connected to their business operations. They also ensure laws are adopted and reformed to better respect and protect the rights of workers.

    Finally, unions have a long history of solidarity with other global human rights movements. From strikes in the 80s against apartheid in South Africa to the union-backed campaigns against Israel’s genocide of Palestinians in Gaza, their actions consistently demonstrate the bond between trade unionism and social justice.

    MIL OSI NGO –