Category: KB

  • MIL-OSI Australia: Serious crash at Pewsey Vale

    Source: South Australia Police

    Police are at the scene of a serious crash at Pewsey Vale.

    About 12.30pm today (Sunday 22 December), police and emergency services were called to Springton Road after reports that a car had crashed down an embankment.

    Major Crash officers are attending the scene.

    Please avoid the area if possible.

    MIL OSI News

  • MIL-OSI China: Iraqi PM, Omani FM meet on bilateral ties

    Source: China State Council Information Office

    Iraqi Prime Minister Mohammed Shia’al-Sudani and Omani Foreign Minister Sayyid Badr Albusaidi met in Baghdad on Saturday to discuss ways to enhance bilateral relations.

    They underscored the importance of strengthening ties between the two nations and enhancing bilateral economic and trade exchanges, particularly in the oil derivatives sector, a statement by al-Sudani’s media office said.

    The meeting also addressed the latest developments in the region, particularly the situation in Syria, with both sides emphasizing the need to coordinate positions among Arab countries to solidify stability, the statement said.

    Their discussions also touched on the conflict in Gaza, efforts to support the Palestinian people, and the necessity of consolidating the ceasefire in Lebanon, it said. 

    MIL OSI China News

  • MIL-OSI China: Gaza ceasefire agreement nearly finalized: Palestinian source

    Source: China State Council Information Office

    A ceasefire agreement in the Gaza Strip is imminent, with most of its terms already agreed upon, a senior official from the Palestinian Islamic Jihad movement said on Saturday.

    The official, who required anonymity, said the proposed agreement outlines a gradual cessation of hostilities and the withdrawal of Israeli forces from the Gaza Strip, with the final deal also including a comprehensive prisoner-for-hostage exchange and a permanent end to the war between Hamas and Israel.

    Although some contentious points are still being negotiated, they are not expected to be a major obstacle to reaching a final agreement, added the official.

    The source also expressed optimism that the agreement would be finalized before the end of the year, as long as Israel does not impose new conditions.

    There is political will from all parties to reach a lasting resolution to the Gaza conflict, which has persisted for over 14 months, according to the official.

    The ongoing negotiations, mediated by Egypt and Qatar with the participation of the United States, are based on a plan introduced by the United States in May to end the war, which began on Oct. 7, 2023, after Hamas’s attack on southern Israel that resulted in about 1,200 deaths. 

    MIL OSI China News

  • MIL-OSI China: Russia’s Tatarstan declares emergency after Ukrainian drone attacks

    Source: China State Council Information Office

    Russia’s Tatarstan Republic on Saturday declared a state of emergency for government bodies and emergency response units to manage the aftermath of Ukrainian drone attacks.

    “The head of Tatarstan has signed an order imposing a special emergency mode for government agencies and the Ministry of Emergency Situations. This status is necessary to swiftly handle the consequences of the attacks in accordance with the law,” the press service of Tatarstan President Rustam Minnikhanov said. “The order applies exclusively to those involved in the response efforts and does not affect the general population.”

    On Saturday, eight drone strikes were reported in Tatarstan’s capital city of Kazan, six of which targeted residential buildings. Preliminary reports indicated there were no injuries.

    Following the attack, operations at Izhevsk Airport near Kazan were temporarily restricted. The restrictions were lifted by 15:00 local time (1100 GMT) on Saturday, Russia’s TASS news agency quoted Alexander Sinelnikov, general director of Izhevsk-based aviation company Izhavia, as saying. 

    MIL OSI China News

  • MIL-OSI China: Belarus ready to enhance cultural exchanges with China

    Source: China State Council Information Office

    Belarus is ready to enhance cultural exchanges with China, jointly launch new cooperation initiatives, and develop creative projects based on the traditional values of their people, Belarusian Culture Minister Ruslan Chernetsky said Saturday.

    At a Spring Festival concert held at the Belarusian State Philharmonic, Chernetsky said although separated by thousands of kilometers, Belarus and China have maintained close and effective cooperation, and the foundation of cultural cooperation has grown stronger.

    Chinese Ambassador to Belarus Zhang Wenchuan said that the concert is a significant cultural exchange event between China and Belarus and a testament to bilateral relations.

    Zhang added that China is willing to continue to make joint efforts with the people from all walks of life in Belarus to implement the Global Civilization Initiative through practical actions and continuously open up a new chapter of cultural exchanges, integration, and mutual understanding between the two peoples.

    Around 700 people attended the event, including representatives from various sectors of the Belarusian society, foreign ambassadors, Chinese nationals residing in Belarus, representatives of Chinese enterprises, and Chinese students.

    MIL OSI China News

  • MIL-OSI Australia: Additional assistance in response to Vanuatu earthquake

    Source: Australian Government – Minister of Foreign Affairs

    The Australian Government will provide an additional $5 million in practical humanitarian assistance to the people of Vanuatu, following Tuesday’s tragic earthquake.

    This support builds on the Australian Government’s initial $2 million package and will assist the next phase of the Vanuatu Government’s emergency response.

    It includes $2.5 million for medical care for those injured, and to supply water, sanitation and hygiene products and services.

    Assistance will also be directed to NGOs through the Australian Humanitarian Partnership (AHP) consortium to address the distinct needs of vulnerable community members and to the Australian Red Cross, who in partnership with the Vanuatu Red Cross will deliver services and supplies including shelter, first aid and non-food items.

    An Australian Medical Assistance Team (AUSMAT), with 16 members will depart tomorrow. They will continue to support local health services to address critical injuries. The team has been drawn from across Australia, and we thank them for their contribution, especially over Christmas.

    The 64-member Disaster Assistance Response Team (DART), which has been assisting with search and rescue efforts, and the six-person AUSMAT team that were deployed on Wednesday will return to Australia tomorrow.

    The Royal Australian Air Force will conduct two further flights to Port Vila today. Commercial flights are now resuming.

    Australians should be proud of the emergency rescue and medical teams that deployed less than 24 hours after the earthquake. We are grateful to all of those involved in Australia’s response for their work.

    The Department of Foreign Affairs and Trade is continuing to provide consular assistance where needed to Australians present in the affected region.

    Australians in need of emergency consular assistance should contact the Australian Government 24-hour Consular Emergency Centre (+61 2 6261 3305 from overseas or 1300 555 135 in Australia).

    Imagery will be available via Dropbox.

    MIL OSI News

  • MIL-OSI Australia: Transcript – Press conference, Ballarat

    Source: Australian Ministers 1

    CATHERINE KING: Today the Albanese Labor government is releasing our draft consumer rights charter for airline travellers. This is part of the work we have done this year as part of the Aviation White Paper and the establishment for the first time ever of an aviation industry ombudsman. We know the travelling public has not been happy with the services that they are getting both from our airlines and from our airports, and we want to improve the circumstances. Customers should get what they pay for or they should get a refund. This Charter of Rights, which is out for consultation now, spells out very clearly what people, the flying public, can expect. If they have flight cancellations, they should expect, at no cost of their own, to either be rebooked on that airline or another airline, or they should get a refund and that refund should be a timely refund within 14 days. We also know that people should – if they are stuck away from their home, away from the where they actually live – that they should also get access to accommodation and food to be able to stay overnight then go onto their travels. This is the first time we’ve had a consumer rights for the air travelling public and it’s part of the reforms that we have of trying to make sure customers actually get what they pay for or get a refund. 

    JOURNALIST: If this charter is ultimately improved, is there a plan to impose penalties on airlines if they don’t comply with it and how will you ensure that they do comply? 

    CATHERINE KING: We will be legislating next year the aviation industry ombudsman scheme. We’ve got an interim person in at the moment who’s been developing this Consumer Rights Charter and all of those issues in relation to penalties, in relation to the way in which people can get remedies, will all be detailed as part of that legislation. This is the first part of putting that together, drafting the consumer rights charter to make sure we get that right. 

    JOURNALIST: And what powers can you say at this stage? What powers will the interim ombudsman have? 

    CATHERINE KING: Well, similar to the communications industry ombudsman, where they will be able to seek remedies directly from airlines, being able to name and shame in terms of the amount of complaints that they are getting, and to seek remedies. But again, all of that will be in the draft legislation. 

    JOURNALIST: And I understand that this aviation code is now out for public comment until the end of January?

    CATHERINE KING: Until the end of February, so 28th of February, people can access it on my department’s website, infrastructure.gov.au and look for the Aviation Charter of Rights, [indistinct] and you can just send an email to the email but basically says we think it should be this way, or we think it should have a shorter time frame, all of those things. It can just be a line in an email to give us some feedback about it. 

    JOURNALIST: And so after feedback closes, how long could it realistically take for this charter to be approved and become legislation? 

    CATHERINE KING: Well, not long. We’re obviously subject to parliament sitting, and they’re sitting in February, and then obviously getting it past, but we hope to do so as quickly as possible. 

    JOURNALIST: The feedback closes at the end of February, after Parliament sits, so at this stage, is it likely there’ll be another sitting after that before the next election? 

    CATHERINE KING: What we will be doing is that obviously the legislation will reference the charter and then the actual wording of the charter can be finalised later. 

    JOURNALIST: So you hope to pass this legislation in the February week of parliament, is that correct? 

    CATHERINE KING: Well we are certainly hoping to introduce the legislation as soon as possible, but again, we announced this back in November that we were establishing an aviation industry ombudsman scheme. The drafting of that legislation is underway, but it is part of our commitment to improving the experience of the travelling public.

    JOURNALIST: Obviously, the changes won’t be in effect this Christmas, this travel season, when do you want the changes to kick in, and if companies do not comply with the changes will there be penalties and what will they be?

    CATHERINE KING: Well, people already have rights under Australian Consumer Law. The problem we have is, when you’re booking a flight ticket, very few of us look at the terms and conditions of the contract you’re entering into. But people do already have existing rights really under Australian Consumer Law, part of the problem has been, A). not knowing what those rights are, but also having real difficulty enforcing those rights – trying to get hold of someone in the first place, and waiting for hours on the phone to a call centre, or then in some cases, having almost 100 days in some cases before any remedy is put in place. So, building in a Charter that basically says, this is what your rights are, this is making it very clear what our expectation of the airlines and the airports are, provides that opportunity for remedies. 

    JOURNALIST: And when do you want that to kick in, and will there be penalties? 

    CATHERINE KING: It certainly when the legislation passes through the parliament, obviously the timing of that will be a part of the legislation but as I said, people do have rights and they should be upheld, but really what this charter is doing – and what we’re consulting on – is trying to codify those rights and ensure that they are part of the legislation and the ombudsman scheme going forward. But we hope for that to be in place certainly for next year. 

    JOURNALIST: And the penalties for non-compliant?

    CATHERINE KING: Again, that would be part of legislation that we’re drafting at the moment. 

    JOURNALIST: You mentioned that this is the first time that airlines have been held to account or have such harsh laws in place. Why has it taken so long and I understand the Coalition’s private members bill has been up since March on Pay on Delay, why not support that? And do you think you will have the Coalition’s support in Parliament next year? 

    CATHERINE KING: Well, who knows what the Coalition is going to do, frankly, you know, you never know they seem to have decided to say no to absolutely everything just to cause political havoc, even when it is in the travelling public’s actual interest to do so. We know that the previous government, they were in power for a decade, they couldn’t have cared less about the aviation industry, couldn’t have cared less about aviation consumers, did nothing for a decade. What we’ve seen in the two and a half years of the Albanese Labor Government is the most significant reforms that they aviation sector and the travelling public have ever seen. That’s what we’ve done in the two and a half years that we’ve been in Government. The opposition can be accountable for their lack of action in the last decade. 

    JOURNALIST: [indistinct] is it enough to deter the practice? 

    CATHERINE KING: What we’re seeing in terms of the travelling public is where consumers are more informed about what their rights are, where they have information about what to expect and what their rights are, we know that they can be enforced in a much stronger way. Having an ombudsman for the first time, we’ve had a sort of voluntary system at the moment that’s really not been working for the travelling public. Having an ombudsman who then, you know, if you can’t get anywhere with the airline and yourself, then actually going to the ombudsman and having that capacity to get a remedy through that process really will be a significant change from the Australian travelling public. 

    JOURNALIST: Airlines make it hard enough to get a voucher or switch flight, how hard do you think they’re going to make it for passengers to get a refund? 

    CATHERINE KING: Well, certainly this is what we’re trying to rectify, we’re trying to make sure that the traveling public either gets what they pay for or they get a refund. If someone wants to have a credit voucher then that it is an option that they have available but it has to be at, the travelling public, if that’s what you want and you want the voucher, then that’s what you get, but that can’t be the default. So that’s what this Charter of Rights lays out really clearly that if you need a refund and you want and refund, then that is what you should actually get, you shouldn’t get a flight credit that you may or may not be able to use later on, unless you want one. 

    JOURNALIST: Minster, on Sunrise this morning, this flight delays of three hours or more, what about for delays like say a Volcano in Bali or you know, this considered out of the airlines control will you expect refunds for cancellations or at least a some sort of hotel room or meal provided oin those circumstances?  

    CATHERINE KING: So, certainly refunds for cancellations is part of the charter of rights and that’s important. If a flight gets cancelled, those refunds are important. If you don’t get what you pay for, then you should get a refund, and that is very much part of the charter. In terms of the delay, really, uh, you know, there are delays that, of course, that are no fault of the airlines themselves. Really what this is about is where the airline is at fault, you know, had crewing issues or maintenance issues, or they’ve really not delivered what they should be delivering. Then, really, the next thing is to say can you rebook? how else can we travel? And if you can’t do any of those things, being able to get a refund for your flight or getting your meals and your accommodation paid if you’re not at your home port. 

    JOURNALIST: Arguable you’ve got bigger airlines, Virgin and Qantas, [indistinct]… do you think that legislation like this might create a barrier for new airlines entering the market? 

    CATHERINE KING: No, I think that any new airline entering the market really should take into account what they are supposed to do under Australian Consumer Law. People do have substantial rights under Australian Consumer Law. What this draft charter is doing is codifying that, is putting that down in writing, so that people have a much better understanding of it. And of course, any new entrant it has to comply with that law. 

    JOURNALIST: So far have you had any feedback from the airlines? 

    CATHERINE KING: Well, we are just releasing it today. I’m sure they’ll have plenty to say. I’m sure the airports will have plenty to say, but at the end of the day, this is about the travelling public and improving the experience for everybody. 

    JOURNALIST: How much can you estimate this will cost the airlines annually?

    CATHERINE KING: Well, we don’t know, hopefully it costs them nothing because they actually deliver the service that people pay for and that’s what really this is about improving the experience of the travelling public, and if nothing goes wrong, then it’s not you know, their fault, then they won’t have to pay for it. And so that’s what this is really about –  improving the experience of the travelling public. And again, as I said, you know, we’ve had this is the single biggest reform, we’ve had to the aviation sector. Our demand management system at Sydney Airport, the slots reforms there, and this ombudsman scheme, really is a significant reform and it should improve the services that people are experiencing going forward. 

    JOURNALIST: And what lost luggage? 

    CATHERINE KING: Yeah, well, certainly in terms of luggage that is one of the rights that is part of the charter, and I encourage people to have a look at it and again, [indistinct]. So sometimes you have delayed luggage, your luggage, they can’t find where it is, so you might have some costs that are incurred having to buy some toiletries so that you can actually get through the next day or so. So, getting a refund or getting money back for those, but also making sure that you are fairly refunded or compensated for the luggage if it’s lost for good and that is very much part of the consumer rights charter that we’re putting forward at the moment and again encourage people to have a look at that and give us feedback as to whether that goes far enough. 

    JOURNALIST: Apologies, I haven’t read the paper… 

    CATHERINE KING: [laughs] I certainly have read it, yes, I’ve read it extensively. 

    JOURNALIST: Will there be any scope in here for how loyalty programs are managed? 

    CATHERINE KING: It doesn’t cover so much loyalty programs. Again, there are significant rights that people have under consumer law in relation to those. That certainly has been an area of some contention as well. Uh, but again, this is a draft, it’s out for consultation and we’re happy to have a look at whether there is broader things that needs to be picked up in the charter, or there needs to be something else that the ombudsperson looks at more broadly as part of those flight incentives as well. 

    JOURNALIST: I’ve just got a few more questions about two unrelated matters, first of all, have you heard the latest about the ADF flights out of Vanuatu? 

    CATHERINE KING: Yes, so certainly we’ve already repatriated 568 people out of Vanuatu. There are two more flights today, more RAF flights out of Port Vila today, and commercial flights are restarting as well. So options for people to get home continue. Obviously, it continues to be a difficult circumstance on the ground there, but really that’s what we’ve done, so there are two more flights out of Port Vila today and commercial flights are commencing as well. We’ve already repatriated 568 people. We’ve also announced a further $5 million of humanitarian assistance on top of the two million that’s already been there, but, you know, we’re in there for the long haul. This is a really important, one of our important Pacific neighbours and we want to make sure that we do everything we can to help them recover. 

    JOURNALIST: And looking a bit closer to home, obviously, there’s a bushfire emergency into Grampians at the moment. Can you say at this stage what Federal support is available to people who are evacuating or who might be spending weeks away from home?

    CATHERINE KING: At the moment we’re really in the emergency phase. There’s an emergency warning, obviously for Grampians fire and a watch and act in Pomonal. These are communities that we’re hit very hard in February Pomonal, in particular. We’ll let the emergency services agencies do their work at the moment, in fighting the fires. This is going to be something that is quite difficult, but Minister McAllister will have a bit more to say when we are working with the Victorian state government about what emergency services and relief will be put in place fairly quickly for people. But right at the moment it’s really the emergency situation just trying to make sure we keep people safe. I do want to give a shout out to our emergency services personnel, from our firefighters in the air to those that are on the ground, really doing an amazing job, to our relief services, there’s relief centres at Stawell, at Ararat and I believe one opening up at Kyneton shortly. Just doing an amazing job and I want to thank them and say, please stay safe everyone. Take head of the emergency warnings. It is absolutely critical that you do so. Leave if leaving is your best option and leave if they tell you to leave. 

    MIL OSI News

  • MIL-OSI Economics: Available for sale soon… Silver Commemorative Coin on the occasion of the Silver Jubilee of His Majesty the King, marking 25 years of His Majesty’s reign

    Source: Central Bank of Bahrain

    Available for sale soon… Silver Commemorative Coin on the occasion of the Silver Jubilee of His Majesty the King, marking 25 years of His Majesty’s reign

    Published on 22 December 2024

    Manama, Kingdom of Bahrain – 22 December 2024 – The Central Bank of Bahrain announces the issuance of a silver commemorative coin minted on the occasion of the Silver Jubilee of His Majesty King Hamad bin Isa Al Khalifa, marking 25 years of His Majesty’s reign, in a limited quantity of 1,000 coins.

    The front side of the silver commemorative coin features the portrait of His Majesty King Hamad bin Isa Al Khalifa and the Silver Jubilee logo, while the reverse side features The Prosperous Al- Sakhir Palace.

    It is worth noting that the Central Bank of Bahrain issued the commemorative coin using Ultra High Relief Technology for a three dimensional (3-D) effect on both sides.

    Under the directives of His Majesty King Hamad bin Isa Al Khalifa, all proceeds from the sale of the coin will go to charitable organisations and funds, through the Royal Humanitarian Foundation (RHF).

    The sale of the silver commemorative coin will be announced shortly, noting that appointments will be open for booking soon through ‘Mawaeed’ National Appointment System app. The app can be downloaded from the eGovernment App Store www.bahrain.bh/apps.

    Share this

    MIL OSI Economics

  • MIL-OSI New Zealand: Search continues for Maia Johnston

    Source: New Zealand Police (National News)

    Police are still actively searching for 19-year-old Maia Johnston, who is missing from Totara Park, Upper Hutt.

    Maia was last seen leaving a family home in Totara Park at around 8.30pm yesterday (Saturday 21 December).

    Previously, Police asked for residents in the Totara Park, Upper Hutt area to share any CCTV footage they might have.

    We are now expanding this request and are asking for anyone in the vicinity of Harcourt Park and Brown Owl, as well as those in Totara Park, to review their CCTV for any sightings of Maia after 8:15 PM last night.

    We believe that Maia was wearing a black cardigan or light top, short shorts, and black and white converse shoes.

    Police continue to search this evening. 

    Residents of Totara Park may see a drone in the air behind the houses on the northern end of Totara Park and should not be alarmed, as this is part of the search.

    If you have any information or CCTV footage that could help our enquiries, please update us online now or call 105. Please use the reference number 241222/0237.

    ENDS

    Issued by Police Media Centre. 
     

    MIL OSI New Zealand News

  • MIL-OSI Australia: NORTH COAST ROAD, KINGSCOTE (Building Fire)

    Source: Country Fire Service – South Australia

    Issued on
    22 Dec 2024 17:51

    Issued for
    KINGSCOTE in Kangaroo Island.

    Warning level
    Advice – Monitor Conditions

    Action
    There is a shed fire at the waste recovery resource centre on North Coast Road, Kingscote, Kangaroo Island.

    There is currently no threat to the community. If you are in this area, stay informed and monitor local conditions.

    Smoke can affect people’s health. If you are having difficulty breathing, seek medical attention from your local GP. If your symptoms become severe, call 000.

    More information will be provided by the CFS when it is available.

    MIL OSI News

  • MIL-OSI China: China firmly opposes US military assistance to Taiwan

    Source: China State Council Information Office

    China strongly deplores and firmly opposes U.S. military assistance and arms sales to China’s Taiwan region, and has immediately lodged solemn representations with the United States, a Chinese foreign ministry spokesperson said Sunday.

    The White House on Dec. 21 announced military assistance worth 571.3 million U.S. dollars to Taiwan. The U.S. Department of Defense announced on the same day that the State Department has approved 295 million U.S. dollars worth of arms sales to Taiwan.

    In response, the spokesperson said the United States once again approved military assistance and arms sales to China’s Taiwan region. This seriously violates the one-China principle and the three China-U.S. joint communiques, especially the August 17 Communique of 1982, and China’s sovereignty and security interests.

    The decision is a severe breach of the U.S. leaders’ commitment of not supporting “Taiwan independence,” and sends a gravely wrong signal to “Taiwan independence” separatist forces. “China strongly deplores and firmly opposes it and lodged solemn representations at once with the United States,” the spokesperson said.

    The Taiwan question is at the core of China’s core interests, and the first red line that cannot be crossed in China-U.S. relations, the spokesperson said. “To aid ‘Taiwan independence’ by arming Taiwan is just like playing with fire and will get the United States burned, and to use the Taiwan question to contain China is doomed to fail.”

    The spokesperson said that China urges the United States to immediately stop arming Taiwan and stop the dangerous moves that undermine peace and stability in the Taiwan Strait.

    “China will take all measures necessary to firmly defend national sovereignty, security and territorial integrity,” the spokesperson said.

    MIL OSI China News

  • MIL-OSI China: 5 injured after driver crashes into shopping mall in Texas

    Source: China State Council Information Office

    Five people were injured after a fleeing driver crashed into a shopping mall in Killeen in the U.S. state of Texas on Saturday evening, according to the Texas Department of Public Safety.

    Responding law enforcement officers shot the driver dead, who was chased by police for nearly 32 km before driving his pickup truck “several hundred yards” through the entrance of the mall and “actively running people over,” Sgt. Bryan Washko of the Texas Department of Public Safety said at a news conference.

    The victims are aged from six to 75, Washko said. The suspect has not yet been identified.

    A Texas Highway Patrol trooper attempted to stop the driver around 5 p.m. Central Time (2300 GMT) for possibly driving while intoxicated, Washko said.

    According to Washko, the driver exited the highway and entered the Killeen Mall parking lot, where he drove through the glass doors of the main entrance of a JCPenney store.

    “The suspect drove through the doors and continued to travel through the JCPenney store, striking multiple people,” he said.

    “This mall is pretty busy at this time of year,” he said.

    An investigation is underway to determine whether the man drove into the mall intentionally or “out of desperation because he was being pursued,” Washko said.

    Killeen, a city of nearly 160,000 residents, is about 240 km south of Dallas.

    MIL OSI China News

  • MIL-OSI China: Trump threatens retaking Panama Canal, whining “unfair” fees

    Source: China State Council Information Office

    U.S. President-elect Donald Trump on Saturday called the Panama Canal “a VITAL National Asset for the United States,” threatening to retake the canal, citing “exorbitant prices” on U.S. ships.

    In a Truth Social post, Trump claimed that Panama has been treating the United States “in a very unfair and injudicious way” by charging U.S. Navy and commercial vessels transiting the waterway “exorbitant prices and rates of passage.”

    “This complete ‘rip-off’ of our Country will immediately stop,” Trump said.

    Panama Canal, now a vital international maritime trade route connecting the Pacific and Atlantic oceans, was returned to Panamanian control in 1999 according to the Torrijos-Carter Treaties signed in 1977 under pressure from the Panamanian people.

    In 1903, the United States signed a treaty with the newly independent state of Panama to construct the canal. After its inauguration in 1914, the canal and its surrounding area, known as the Panama Canal Zone, were administered and governed under U.S. jurisdiction.

    MIL OSI China News

  • MIL-OSI China: S. Korean main opposition party urges acting president to promulgate special counsel bills

    Source: China State Council Information Office

    Park Chan-dae, floor leader of South Korea’s main opposition party, on Sunday called on acting President Han Duck-soo to promulgate special counsel bills against impeached President Yoon Suk-yeol and first lady Kim Keon-hee by Tuesday, vowing to hold him accountable if he fails to do so, Yonhap news agency reported.

    Earlier this month, the National Assembly passed a special counsel bill to investigate whether President Yoon committed insurrection and other violations over his declaration of martial law.

    The parliament also passed a bill mandating a special counsel probe into two key allegations involving the first lady — her alleged involvement in a stock manipulation scheme and interference in election nominations through a power broker. 

    MIL OSI China News

  • MIL-OSI Russia: Leo Antonovich Bockeria, cardiac surgeon, academician of the Russian Academy of Sciences

    Translation. Region: Russian Federation –

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

    Mikhail Mishustin congratulated the President of the A.N. Bakulev National Medical Research Center for Cardiovascular Surgery on his 85th birthday.

    The telegram states, in particular:

    “Your life is an example of selfless service to people, boundless devotion to your calling. You have made a significant contribution to the development of domestic medicine and health care, and your advanced scientific discoveries have become a real breakthrough in the field of cardiac surgery and have been awarded honorary titles and state awards.

    For over thirty years, you have headed the Bakulev Center, which, thanks to your deep knowledge, high level of professionalism, experience and organizational skills, has become a major clinic, research and educational center. Over these years, you have developed and successfully implemented innovative methods of performing operations, clinical diagnostics and treatment of cardiovascular diseases in surgical practice, saving the lives of thousands of seriously ill patients.

    I wish you good health, happiness and prosperity.”

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

    MIL OSI Russia News

  • MIL-OSI China: Brazilian Sinologist applauds Macao’s role in promoting Chinese culture

    Source: China State Council Information Office 3

    Brazilian Sinologist Giorgio Sinedino has developed an interest in China since childhood when he read The Adventures of Tintin and was impressed by the cultural elements such as traditional Chinese attire and delicate ceramics introduced in the famous comic series.

    “I like Tintin because of his interest in different cultures across the globe,” says Sinedino, an assistant professor at the University of Macao. “I find his introduction of cultures positive and appealing and want to visit these countries.”

    Following Tintin’s footsteps, Sinedino crossed oceans to pursue studies in China and has been living in the country for about 20 years, committing himself to introducing Chinese classics to Portuguese-speaking countries.

    Starting in 2012, the scholar published Portuguese versions of several millennia-old Chinese classics, including The Analects of Confucius, Dao De Jing and Zhuangzi.

    His passion for the Chinese language and ancient wisdom was sparked in 2004 when he began learning the language in Brazil with a visiting scholar from Peking University.

    After years of studying and working in Beijing, Sinedino decided to settle in Macao, which returned to its motherland China in 1999 after a long history of Portuguese rule, to further his cause in promoting Chinese culture to audiences of Portuguese-speaking countries.

    During the 17th century, Macao played an important role in introducing Chinese learning to the West, according to Sinedino. “Early Western Sinologists received basic training in Macao, working on dictionary compilations and translations of Chinese classics,” he says.

    As a bridge linking China and Portuguese-speaking countries, the Macao Special Administrative Region has another appeal for the Brazilian Sinologist who has traveled to numerous places worldwide and has always been fascinated by various cultures. In his opinion, it is an ideal place to live due to its embrace of cultural diversity.

    He says that Brazilians not only focus on China’s economic growth but also show an interest in the country’s classical culture.

    The ever-growing demand for Chinese culture inspired him to introduce more classics to Portuguese-speaking countries, including The Art of War, a world-renowned book by the ancient Chinese military strategist Sun Tzu.

    Sinedino believes that it is crucial to understand the historical background behind Sun Tzu’s strategic thinking. “I hope to present the uniqueness of this work through supplementary materials, allowing readers to understand this classic from the perspective of Chinese culture and ancient thoughts,” he says.

    In addition to classics, the Brazilian also pays attention to the studies of modern Chinese literature. He plans to publish in Brazil next year the Portuguese version of Na Han, or Call to Arms, a representative work of Lu Xun, one of the most important Chinese writers of the 20th century.

    Speaking of future cross-cultural exchanges, the Sinologist looks forward to cooperating with experts from China to study and translate more Chinese works to better promote Chinese culture.

    “As a new wave of introducing Chinese learning to the West unfolds, Macao will continue to contribute to the global promotion of Chinese culture,” he says.

    MIL OSI China News

  • MIL-OSI Russia: The government will allocate more than half a billion rubles for the construction of medical institutions in Ingushetia and the Smolensk region

    Translation. Region: Russian Federation –

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

    More than 500 million rubles will be allocated in 2024 for the construction of medical institutions in the Smolensk Region and the Republic of Ingushetia. An order has been signed to redistribute federal budget funds for these purposes.

    Of the total amount, over 232.4 million rubles will go to completing the construction of the infectious diseases department of the Children’s Republican Clinical Hospital in Ingushetia. The new building is designed for 60 beds. Additional funds for these purposes will be allocated within the framework of the federal project “Development of children’s health care, including the creation of a modern infrastructure for providing medical care to children.”

    The Smolensk region will receive an additional 282.5 million rubles to support the first stage of construction of the regional oncology dispensary. The funds will be allocated within the framework of the federal project “Fight against oncological diseases”.

    The federal projects “Development of children’s healthcare, including the creation of a modern infrastructure for providing medical care to children” and “Fight against oncological diseases” are being implemented within the framework of the state program “Development of healthcare”.

    The document will be published.

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

    MIL OSI Russia News

  • MIL-OSI China: China combines policy tools to revitalize property sector

    Source: China State Council Information Office

    An aerial drone photo taken on Jan. 16, 2024 shows people waiting to receive the keys to their new homes at a relocation residential complex in Shijiazhuang, north China’s Hebei Province. (Xinhua/Yang Shiyao)

    In a year of heightened challenges, China’s property market is showing clearer signs of recovery, bolstered by well-targeted policies that have restored confidence and rekindled demand.

    In late September, a key meeting convened by the Political Bureau of the Communist Party of China Central Committee emphasized the need to stabilize the property market and reverse its downturn, calling for adjustments to housing purchase restrictions, reduction in interest rates on existing mortgage loans, and improvement to land, fiscal, tax and financial policies.

    In keeping with these imperatives, authorities have acted decisively to reduce home-buying costs, ease mortgage burdens, and provide critical support to first-time homebuyers and those looking to upgrade their housing.

    On September 29, the country’s central bank instructed commercial banks to reduce interest rates for existing housing loans, including first and second home mortgages, by no lower than 30 basis points below the loan prime rate (LPR), a market-based benchmark lending rate, by October 31, 2024, to ease financial burdens on property owners.

    Following this, major cities, including the Chinese capital of Beijing and the cities of Shanghai, Guangzhou and Shenzhen, have adjusted their real estate policies, unveiling a raft of measures to boost local property markets.

    These new initiatives represent a further step in the ongoing policy push, building on landmark measures announced on May 17 that included cutting minimum down payment ratios, setting up a relending facility for affordable housing, and pledging to deliver unfinished homes.

    Together, these efforts are swiftly reflected in the latest market data. According to the National Bureau of Statistics (NBS), the decline in the prices of commercial residential homes in the country’s 70 large and medium-sized cities narrowed on a year-on-year basis in November.

    Home transactions also showed a turnaround in October, with new home transactions reversing a 15-month decline and rising 0.9 percent year on year. The total transactions of both new and second-hand homes grew by 3.9 percent, marking the first increase following eight months of drops.

    The market’s renewed confidence can be traced to several high-level meetings where a flurry of policies to support the property market were unveiled, sending a wave of optimism, said Lu Wenxi, a market analyst with the real estate agency Centaline Property, highlighting notably active second home transactions in major cities like Shanghai.

    The shift in market sentiment is palpable on the ground. In a bustling real estate office in Beijing’s Chaoyang District, a manager described the past two months as the busiest period of this year. “I sometimes have to take clients on seven viewings in a single day, barely having time for lunch,” he said.

    This rebound signals the start of a recovery, but long-term stability also hinges on rebuilding market confidence, particularly ensuring the timely delivery of housing projects.

    In this respect, the “white list” mechanism launched in January has played a pivotal role, offering targeted financial support to eligible real estate projects.

    As of the end of October, loans approved for “white list” real estate projects had exceeded 3 trillion yuan (about 417.24 billion U.S. dollars). By the end of this year, the approved loan amount for these projects is expected to reach 4 trillion yuan.

    The current rebound might be the strongest in two years, largely driven by restored market confidence, said Gao Yuan, director of the Beijing Lianjia Research Institute. He anticipated lasting momentum as buyers and sellers steadily return, pointing to a more sustainable recovery.

    The focus on stabilizing the property market is a part of the country’s broader drive to anchor expectations and secure economic growth. In its recent tone-setting Central Economic Work Conference, the country stressed the importance of “stabilizing expectations” as a key objective for the coming year.

    Analysts say these expectations — often the unseen force that drives market sentiment — are considered a linchpin for overall economic recovery.

    The latest business activity and expectation indices reflect growing optimism among market players. In October, the property sector’s business activity in the purchasing managers’ index rose by 2.5 percentage points month on month, while the business expectation index climbed by 1.8 percentage points.

    “With improved expectations, the market is sustaining a sound recovery from the previous downturn,” noted NBS spokesperson Fu Linghui at a press conference on Monday.

    After three years of adjustment, “the real estate market is starting to bottom out as the policies take effect,” the Ministry of Housing and Urban-Rural Development noted at a recent press conference.

    Beyond the goal of stabilization, China’s housing policies are also shifting focus towards quality and sustainability. The emphasis is no longer merely on “having a home” but on “having a better home,” aiming to ensure a resilient rebound capable of weathering future challenges.

    Urban renewal projects spearhead this transition, breathing new life into older neighborhoods and improving living conditions for millions. Over 66,000 such projects were implemented in 2023. In 2024, another 54,000 projects are set to revitalize aging residential areas.

    Looking ahead to 2025, a report by China Minsheng Bank noted that market confidence is the golden key to stabilizing the property sector, urging further efforts to foster confidence, guide expectations, and ensure the successful implementation of existing and upcoming policies. 

    MIL OSI China News

  • MIL-OSI China: Shanghai Port sees annual container throughput exceed 50M TEUs

    Source: China State Council Information Office

    Shanghai Port became the first in the world to see the annual container throughput exceed 50 million 20-foot equivalent units (TEUs) on Sunday.

    The port has ranked first globally for 14 consecutive years in terms of annual container throughput.

    According to Yang Yanbin, deputy general manager of the production and business department of the Shanghai International Port (Group) Co., Ltd, the growth of container throughput indicates that China’s complete industrial system and manufacturing capability continue to empower global trade.

    Seen as a window of China’s opening up and collaboration with the world as well as an engine boosting trade and exchanges, Shanghai Port saw its annual container throughput top 1 million in 1994.

    Yang noted that the growth in container throughput at Shanghai Port was driven not only by the rise in export-heavy containers but also by an increase in international transfer containers and ship-to-ship transfer volumes.

    “The port’s robust functionality and high-quality services attract large cargo ships from around the world,” he said, adding that the proportion of ship-to-ship transfers at the port is expected to reach a record 60 percent in 2024, which highlights the continued enhancement of Shanghai Port’s role as a global hub.

    At present, the Shanghai Port boasts nearly 350 international ship routes reaching more than 700 ports in over 200 countries and regions around the world.

    The development of Shanghai Port reflects the broader transformation of Shanghai as a whole.

    The eastern Chinese metropolis has once again secured third place in the 2024 Xinhua-Baltic International Shipping Center Development Index Report, demonstrating that its status as an international shipping center of great significance has been continuously consolidated.

    MIL OSI China News

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

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

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

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

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

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

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

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

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

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

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

    MIL OSI Africa

  • MIL-OSI Europe: Why EU cooperation is more important than ever

    Source: Government of Sweden

    Being an EU member has made Sweden stronger and wealthier. Through EU cooperation, we are better equipped today to meet the challenges and problems that our societies face. Continued support to Ukraine, criminality, competitiveness and the climate transition, sum up the Government’s priorities in its continued work in the EU.

    1. Continued support to Ukraine

    Russia’s full-scale war of aggression against Ukraine will soon be entering its fourth year. Supporting Ukraine is the most important task of our generation. Russia’s actions are a threat to the security of Europe and the rules-based international order. The Russian regime is also attempting to undermine democracy in other European countries. This autumn, for instance, we saw, among other things, how Russia tried to affect the election outcome in Moldavia. It is clear that Europe needs to take greater responsibility for its own security. Individually and collectively.

    In Sweden, the Government is making record investments in civil and military defence. We have already reached the NATO target of spending at least two percent of GDP on defence. In the EU, we are pushing to systematically increase pressure on Russia, such as by imposing more and tougher sanctions, including against the Russian ‘shadow fleet’ and liquefied natural gas. We are also encouraging the Commission to present proposals on how to limit Russia’s influence within every political sphere, such as by imposing import tariffs on Russian goods. The Government is prepared to go further and use a larger amount of frozen Russian assets to support Ukraine. 

    Ukraine’s path to EU membership is crucial. In the coming months, the Government would like the EU to open accession negotiations with both Ukraine and Moldova, who have taken impressive steps towards reform. Despite Russia’s war and pressure.   

    2. Criminality

    Criminality is a growing problem throughout Europe. Some 70 per cent of gangs in the EU operate in at least three countries. In Sweden we are making life harder for criminals. The same kind of offensive is needed in the EU. The Government is advocating close cooperation to help confiscate criminals’ assets and status items, and to stop the transfer of crime proceeds to third countries. During Sweden’s Presidency of the EU, we started the work to give national police authorities better access to digital information. This work must continue. Europol, the EU’s cooperation body for law enforcement, needs to have a more prominent role.

    Combatting criminality includes having control over migration. 50 per cent of gang members are not EU citizens. The Government wants the Commission to present concrete proposals on how irregular migration can be curbed and also how to make the return of those whose asylum applications have been rejected more efficient, including through the use of ‘return hubs’.

    3. Competitiveness

    Many of Sweden’s and Europe’s priorities require a growing economy. Yet the EU is lagging behind globally. 90 per cent of the world’s economic growth is expected to happen outside the EU. We are in danger of falling behind in the global techrace. The EU needs a deeper and wider internal market, greater investment in research, a continued strong free trade agenda, increased access to capital, and an aggressive simplification agenda to address red tape.

    4. Climate

    Climate change is a global challenge. Fit for 55, the world’s most ambitious climate package was adopted during Sweden’s EU Presidency. Now the work continues. When the EU decides on a new climate goal for 2040, the Government will support the Commission’s proposal that emissions should be reduced by 90 per cent by then, compared to 1990. This requires that the EU’s climate transition is implemented in a realistic and sustainable way, hand in hand with the work on strengthening EU competitiveness. The Government is working to ensure that EU’s regulatory framework promotes active forestry and the use of renewable forest raw materials, a fossil-free and technology-neutral energy policy that includes nuclear power and a cost-effective climate policy that is broadly accepted in society.

    Central to the EU’s climate transition is that all member states achieve climate neutrality by 2050 at the latest. The Government will not accept that countries who reach the zero-emissions climate goal are forced to compensate for those countries that do not. 

    The Government is protecting Swedish interests. At home and in the EU, we are driving a determined reform agenda. We are implementing purposeful initiatives to get more Swedes into EU institutions, so that important perspectives are taken into account. We are cooperating with others to solve joint problems. We are taking responsibility during troubled times. 

    The war in Ukraine, criminality, competitiveness and the climate. These are crucial issues that show why EU cooperation, 30 years in, is more important than ever. 

    Jessica Rosencrantz, Minister of EU Affairs 

    MIL OSI Europe News

  • MIL-OSI Russia: The government has secured a new opportunity to use maternity capital to improve housing conditions

    Translation. Region: Russian Federation –

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

    The government has secured the possibility of using maternal capital funds for the construction of an individual residential building under a construction contract using an escrow account. A resolution on this has been signed.

    It will be possible to use maternity capital for these purposes from March 1, 2025, when new provisions of a number of federal laws come into force.

    Parents who receive a certificate for maternity capital will be able to use its funds to pay a mortgage for the construction of a house using a contractor company that works with escrow accounts. Such accounts allow payment for the work performed only after its actual completion, which ensures the integrity of the hired construction company.

    Currently, certificates for maternity capital are issued without an application – after the birth of the child, the document is automatically sent to the mother’s personal account on the public services portal.

    Speaking about the decision taken onmeeting with deputy prime ministers on January 27, Mikhail Mishustin noted that the total number of families who have used maternity capital to purchase or renovate their home has now reached more than 9.5 million. A third of them did so without taking out loans.

    From February 2025, the amount of maternity capital will be increased taking into account actual inflation and will amount to more than 690 thousand rubles for the first child, and more than 912 thousand rubles for the second child and subsequent children.

    In addition to building or buying housing, these funds can be used to pay for education, form the mother’s savings pension, and purchase goods and services for disabled children. Families with an income below two subsistence minimums per person can use maternity capital for monthly payments for a second child until he or she turns three years old.

    The possibility of using maternity capital for the construction of an individual residential building using escrow accounts is enshrined in new provisions of a number of federal laws. They were adopted in July 2024.

    Increasing the well-being of families, including those with many children, by improving their living conditions is one of the goals of the national project “Family”, the implementation of which began on January 1, 2025.

    The document will be published.

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

    MIL OSI Russia News

  • MIL-OSI Economics: “Be honest with yourself”

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    Mr Bock, BaFin recently conducted a survey of more than 3,000 people on the topic of property financing. One area of focus was whether respondents could afford to repay their loans.

    Christian Bock: Yes, that’s correct. We asked consumers with property loans how often in the preceding 24 months they had faced difficulties making their monthly repayments while also covering their living costs with their regular income. We found that over half of them experience such difficulties. Many of them stated that this happened “rarely” or “sometimes”, while 13% said it occurred “frequently” or “always”.

    What do such borrowers do when they have difficulties making payments?

    Bock: Many dip into their savings, postpone or reduce planned expenses, work more or take on an additional job.

    What worries us is that more than half of respondents who experienced problems at least “rarely” said that they took on further debt, which has to be repaid in the short term. They stated that they pay bills late or by credit card and that they use overdrafts or exceed arranged overdraft limits. We view this as a problem because such short-term forms of credit are usually very costly.

    And that isn’t the only problem.

    Bock: Correct. Such consumers can lose track of their debts and slip into a debt spiral, meaning that they will no longer be able to repay their debts.

    Information from BaFin

    The BaFin website provides consumers with comprehensive information about property loans.

    What can borrowers do if they are struggling with loan payments?

    Bock: If anyone has difficulties making their monthly loan payments, they should seek professional support. This is especially important if borrowers are overindebted. In such cases, it can be helpful to look at the website of the German association of debt advisors (Bundesarbeitsgemeinschaft Schuldnerberatung). This website informs consumers about where they can obtain advice and what assistance is on offer.

    How can consumers avoid getting into such situations?

    Bock: There are a few questions that borrowers need an answer to before taking out a property loan. No matter how alluring the property seems or how strong your desire to own it might be, the first step always has to be careful planning and asking yourself honestly: What are my regular expenses? What level of repayments can I actually afford? Loan payments need to be set at a level that leaves some money for savings.

    When seeking to buy a property, also remember that your life circumstances may change. This may be due to an accident or illness, for example, or perhaps due to separation. Various unplanned events could undermine your ability to finance the loan. In some cases, just a career change is enough.

    We also advise borrowers to agree to loans that allow for unscheduled repayments. If borrowers have money to spare, they can use it to reduce the interest they will pay over the long run. The resulting savings are often greater than the potential gains from conservative investments, in fixed-term deposits for example.

    Are longer periods at fixed interest rates advisable?

    Bock: Fixed interest rates for longer periods usually mean the interest rates are higher. The upside is that they provide borrowers with far greater certainty when planning. Anyone interested in a property loan should take these factors into account. After all, interest rates may change in the future. If they rise again, this could result in higher repayments and problems in obtaining follow-up financing.

    This is also reflected in the results of our survey. Of the respondents who were seeking follow-up financing in summer 2024, almost one quarter received one or more rejections in response to their enquires with banks. The most common reasons that banks provided were inadequate income levels and insufficient own funds. If borrowers need follow-up financing, they should leave themselves enough time to obtain it and to seek advice.

    MIL OSI Economics

  • MIL-OSI Economics: When loan payments become a burden

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    Very few people can afford to buy a property without financial assistance. That is why so many want to take out loans. Do they think they received good advice? Were they granted the loan? Do they have problems making loan payments? And do they need follow-up financing? These are some of the questions that BaFin sought to answer in its survey of more than 3,000 consumers in summer 2024 (see info box).

    The key findings of the BaFin survey:

    Überwiegend gute Beratung zur Immobilienfinanzierung

    • Around four in five respondents seeking a property loan get professional advice. 88% believe that they are well informed about the risks associated with the loan.
    • Just under half of respondents with a current fixed-rate property loan will need follow-up financing. 40% of this subset will need it as early as 2025 or 2026.
    • Almost one in four people who made enquiries about conditions or applications for follow-up financing received one or more rejections.
    • More than half of the respondents with a property loan find it difficult to cover their costs of living alongside monthly loan payments.
    • Every fifth woman and every tenth man who is paying off a property loan on their own spends more than 40% of their monthly net income on loan payments.

    Advice on property financing generally good

    81% of respondents who were looking for a property loan when BaFin conducted its survey had sought professional advice from a bank, savings bank (Sparkasse), insurance company, Bausparkasse or credit intermediary. Almost all of them felt they were well informed. During discussions, respondents were almost always given a precise calculation of the loan payments that would suit their individual circumstances. Most respondents also thought they were well informed about how to safeguard financing arrangements against unfortunate life events, such as unemployment or illness. 88% believed they had been well informed by their advisor about the risks relating to property loans. However, that also means that more than one in ten respondents do not think they were well informed.

    Loans rejected if own funds are lacking and income is low

    71% of respondents who were looking for a property loan had made one or more loan applications or enquiries about conditions. Almost a third of them received at least one rejection. The rejection rate for applications for follow-up financing was somewhat lower (22%). When providers gave reasons for their rejection, the most frequently cited factors were insufficient own funds or insufficient income. Other reasons for rejection included bounced payments on bank statements, overdrafts exceeding agreed limits and negative Schufa scores.

    BaFin survey on property financing

    A representative sample of 3,060 people took part in BaFin’s online survey on property financing.

    • At the time of the survey, 21% (633) of the respondents were seeking a property loan, most commonly to buy or renovate an existing property.
    • 23% (706) of the respondents had a current property loan when the survey was conducted. Just under a quarter of them had two or more such loans.

    The main aims of BaFin’s study were to find out:

    • how respondents rate the quality of the advice they received;
    • how many loan applications are rejected and why;
    • whether payments of instalments cause financial difficulties for the respondents; and
    • the level of demand for follow-up financing as well as the amounts concerned.

    Financial shortfalls not unusual

    BaFin’s survey also looked into how often borrowers struggle to cover their costs of living alongside monthly loan payments using their regular income. The results showed that more than 50% have such problems at least “rarely” (see infographic 1). In order to cover their expenses, many people dip into savings, postpone planned spending or take on an additional job.

    Of the respondents who experienced payment difficulties, more than half stated that they had taken on additional short-term debt, e.g. by paying bills late or using credit cards and arranged overdrafts. “We view this as a problem because short-term borrowing like this is usually quite costly,” explains BaFin Consumer Protection Officer Christian Bock in an interview on the BaFin website. He also noted that consumers might also lose track of their debts and slip into a debt spiral.

    Of the respondents who had a property loan at the time BaFin conducted its survey, almost one quarter were concerned that they might not be able to finance it.

    Figure 1: Difficulties with loan repayments

    On the basis of 706 participants Source: BaFin

    High demand for follow-up financing

    Most borrowers (91%) had agreed a fixed interest rate for their current loan. Almost half will need follow-up financing to pay off the remaining debt. Of this amount, 40% will require such financing as early as 2025 or 2026. If mortgage interest rates do not fall significantly by then, many of these borrowers will have to obtain follow-up financing at a substantially higher interest rate, in particular those whose interest rate is currently fixed for a period of five or ten years. Durchschnittliche Kreditrate: 767 Euro

    Average monthly payment: €767

    The survey also revealed that 44% of respondents finance their loan jointly while 56% do so alone. The average monthly rate paid by the borrowers surveyed is €767. This equates to an average debt-to-income ratio of 27% in the case of those paying off loans alone and only 16% in the case of those paying off loans jointly.

    Higher debt-to-income ratio among women

    There is also a clear gender gap here. 20% of women paying off loans alone have a debt-to-income ratio of more than 40%. This is the case for just under one in ten men paying off debt alone (see figure 2). Regardless of gender, once they have made their repayments, these respondents have an average of €823 remaining from their net income to cover all other expenses. This group is therefore at a particular risk of becoming overindebted, especially if an unfortunate life event, such as an accident or job loss, further undermines their financial fitness.

    Figure 2: Debt-to-income ratio

    On the basis of 694 borrowers (167 female, 227 male) Source: BaFin

    Information from BaFin

    The BaFin website provides consumers with comprehensive information about property loans.

    MIL OSI Economics

  • MIL-OSI Economics: Multi-channel commerce, stronger promotional deals, and social media marketing to shape foodservice trends in 2025, says GlobalData

    Source: GlobalData

    Several emerging trends and themes in the foodservice sector, such as multi-channel commerce, innovation in deals and promotions, and the impact of social media marketing, are expected to play a greater role in shaping consumer preferences and behavior in 2025.

    GlobalData, a leading data and analytics company, offers its view on five key trends/themes that are set to shape the foodservice sector this year:

    Multi-Channel commercial approaches

    Some foodservice operators are leaning into a multi-channel approach by incorporating retail offerings to boost brand salience, increase footfall, and generally turn their stores into more of a destination. UK-based Pasta Evangelists provides an interesting example of this trend. As well as functioning as a restaurant specializing in pasta dishes, the company also sells pasta-making kits, so consumers can learn to make their own pasta at home using ingredients and equipment provided by the company. Approaches like this give consumers more reasons to enter their outlets or log onto the website, benefiting all aspects of the business.

    Bundle, mix-and-match, and group deals

    Across much of the world, QSR chains tend to have some kind of ‘saver’ menu, a side menu featuring cheaper ‘value’ products aimed at enticing consumers on a budget. Major players such as McDonald’s, KFC, and Burger King all have some version of this concept.

    Economic challenges resulted in an expansion and reimagination of value concepts in 2023 and 2024, with more bundle deals appearing in foodservice outlets across the US and Europe. As QSR players learn more about how best to effectively deploy bundle deals, mix-and-match deals, and other similar promotions, this trend could  accelerate in 2025.

    Vegan alternatives impact set to be long-lasting

    The plant-based meat alternatives industry enjoyed a period of rapid growth in recent years, moving from a niche category to a maturing, salient food trend, with brands like Impossible and Beyond Meat reaping the rewards of big brand collaborations in foodservice. In 2022, Burger King opened a vegan-only store in London as part of a campaign to encourage the shift from meat to meat-alternatives, even stating they planned to get their menu to 50% vegan by 2025. However, not long later, it became apparent that the growth potential of plant-based meat alternatives may have been overestimated.

    Beyond Meat’s Q2 2023 Financial Highlights Report revealed that net revenues were $102.1 million, down 30.5% compared to the previous year, prompting fears in some quarters of a bubble about to burst. However, the vegan surge of recent years should not be seen as a fad, as its presence is still significant and its impact long-lasting. Though at one-point, brands like McDonald’s, Burger King, and KFC had plans to significantly expand their vegan ranges, those plans have been scaled back, but core vegan options remain on menus and are likely to be an important part of QSR brands’ value offering throughout 2025.

    Social media food trends

    Foodservice settings are highly ‘Instagrammable’, and so being active on social media is essential for contemporary foodservice brands. Many people enjoy taking pictures of their meals, or the restaurant setting they are in, and sharing the photos online. This gives brands opportunities to be tagged in such photos, to reply to them, and to go viral. The ‘Menu hack’ is one example of the growing symbiosis between young foodservice patrons and foodservice brands where people share their favorite menu customizations. In 2023 a popular ‘menu hack’ for Chipotle was an order of the steak quesadilla with extra cheese and fajita veggies. Fans of this order claimed it tasted like Philly cheesesteak. Chipotle responded by adding this item to its official *menu.

    This kind of consumer-driven marketing is ultimately seen as more authentic and interesting than traditional advertising. In 2025, expect foodservice brands to continue to up their online activity and be highly responsive to social media trends.

    Supply chain transparency

    Big brands are experiencing more scrutiny than ever when it comes to their value chains. Consumers are increasingly interested in concepts like sustainable sourcing, supply-chain transparency, and what brands ‘give back’ to the people and places they source their ingredients from.

    Consumers play a role in driving this trend, with 74% of consumers worldwide stating that “sustainable/environmentally-friendly” is an ‘essential’ or ‘nice to have’ feature when deciding to make a purchase, according to GlobalData’s Consumer Survey, Q3 2024.

    Governments and regulatory bodies are also driving disclosure policies aimed at making restaurant supply chains more transparent and less of a mystery. More effort is likely to be made by large foodservice brands in 2025 to promote the measures they are taking to source ingredients ethically and sustainably.

    Fred Diamond, Senior Food and Foodservice Analyst at GlobalData, comments: “This year, the key trends shaping the foodservice market will revolve around establishing strong and more dynamic relationships with consumers. Multi-channel approaches will do this by turning the consumer into both a retail and foodservice customer. Social media innovations will do this by striving to build a more responsive dialogue between brands and the wider consumer base. Developments in supply-chain transparency will build the relationship by acknowledging the ethical and moral questions held by consumers, and finally, the continued relevance of plant-based alternatives will seek to cement the bond between brands and consumers with more specific dietary requests, as well as generate wider curiosity.”

    * Source: Today article: “Chipotle is adding the TikTok-famous quesadilla hack to its official menu”.

    GlobalData Consumer Custom Solutions offers sector-level expertise in the Consumer Packaged GoodsFood, Beverages, Foodservice, Retail, Apparel, Packaging, Agribusiness, and Automotive industries. We use our unique data, insights and analytics to answer your bespoke questions with a tailored approach and deliverables.​ To learn more about this press release or have a chat, please drop us an email consulting@globaldata.com or contact us here and we’ll get in touch!

    MIL OSI Economics

  • MIL-OSI China: China mulls law revision to foster fair market environment

    Source: China State Council Information Office 2

    Chinese lawmakers are considering a draft revision to the Anti-Unfair Competition Law, which is expected to foster a fair market environment for business entities.
    The draft revision was submitted on Saturday to the ongoing session of the Standing Committee of the National People’s Congress, the national legislature, for deliberation.
    This is the third major revision of the law since its promulgation in 1993.
    The draft revision focuses on clarifying the general requirements for anti-unfair competition, refining regulations to address unfair practices, and strengthening enforcement and penalty measures, thus fostering a favorable institutional environment that enables fair competition for various market players.

    MIL OSI China News

  • MIL-OSI China: China’s top legislature convenes standing committee session

    Source: China State Council Information Office 2

    Zhao Leji, chairman of the National People’s Congress (NPC) Standing Committee, presides over the first plenary meeting of the 13th session of the 14th NPC Standing Committee at the Great Hall of the People in Beijing, capital of China, Dec. 21, 2024. (Xinhua/Li Tao)
    China’s top legislature on Saturday started a regular session to review a raft of bills including law drafts and reports.
    Zhao Leji, chairman of the 14th National People’s Congress (NPC) Standing Committee, presided over the first plenary meeting of the committee’s 13th session.
    Lawmakers reviewed a draft value-added tax law, a draft national park law, a draft law on the publicity and education regarding the rule of law, a draft private sector promotion law, and a draft hazardous chemicals safety law.
    They deliberated a draft amendment to the law on people’s congress deputies, a draft amendment to the supervision law, a draft revision to science and technology popularization law, a draft revision to the anti-unfair competition law, and a draft revision to the fisheries law.
    Lawmakers also reviewed a draft decision on convening the third session of the 14th NPC, reports on the handling of the suggestions, criticisms and comments submitted by lawmakers at the second session of the 14th NPC, a deputy qualification report, and personnel-related bills, among others. 

    MIL OSI China News

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

    Source: China State Council Information Office 2

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

    MIL OSI China News

  • MIL-OSI China: Beijing symposium discusses legal protection for autistic individuals

    Source: China State Council Information Office 2

    Signage at an autism legislation symposium in Beijing, Dec. 20, 2024. [Photo by Xu Xiaoxuan/China.org.cn]
    A symposium focused on advancing the enactment and implementation of autism-related laws and regulations was held in Beijing on Friday. The China Legal Exchange Foundation (CLEF) and Beijing Highking Law Firm hosted the event, gathering experts from the legislative, judicial, education and social service sectors to discuss building a more inclusive society for people with autism.
    Zhang Mingqi, vice president and secretary-general of the China Law Society, highlighted the urgency of this initiative. He referenced the decision from the third plenary session of the 20th Central Committee of the Communist Party of China to improve the social security and service systems for people with disabilities.
    “China has over 13 million individuals with autism,” Zhang said. “The challenges they face are multifaceted, spanning access to education, health care and employment, as well as long-term structural issues like social integration and support. This makes the creation of autism-specific laws and regulations both critical and urgent.”
    He advocated for an inclusive judicial system with protective measures for individuals with autism in legal proceedings, calling for increased policy support across multiple sectors.
    CLEF Chairwoman Zhang Suofei emphasized the symposium’s role in facilitating professional exchange. She expressed hope that it would advance autism-related legislation and create a friendlier, more inclusive social environment where individuals with autism can live with equality and dignity.
    Zhang Qinghua, director of Beijing Highking Law Firm, discussed the firm’s two decades of public welfare work and its commitment to supporting the autism community through legal advocacy and public interest initiatives.

    Participants attend an autism legislation symposium in Beijing, Dec. 20, 2024. [Photo by Xu Xiaoxuan/China.org.cn]
    Zhang Junru, founder of the Golden Wings Rehabilitation Center, shared the organization’s achievements in empowering autistic youth through art and physical rehabilitation over 14 years. Since its founding in 2010, Golden Wings has developed a unique teaching system that combines art and sports to build confidence and a sense of accomplishment among its participants.
    The center provides instruction in painting, music, calligraphy, fitness, basketball and climbing. Participants’ artwork has been converted into postcards, calendars, stickers and silk scarves, generating 1.34 million yuan ($183,649.68) in supplemental income for families.
    Golden Wings has helped 1,425 young people with autism develop their artistic abilities, with 523 winning awards at home and abroad. The center has mounted exhibitions in the Netherlands, France, Germany, Japan and seven Chinese cities, displaying 11,888 paintings to over 100,000 visitors.
    Experts from Peking University, Beijing Normal University and the Beijing Financial and Tax Law Society joined an Australian autism behavior therapist to offer recommendations for protecting the rights of people with autism.
    The symposium marked the official launch of the Starlight Rights and Interests Fund under the CLEF. The fund, initiated by Beijing Highking Law Firm, will support autism research, public welfare activities and legislative efforts while raising public awareness.

    Golden Wings students’ artwork is displayed at a charity auction during an autism legislation symposium in Beijing, Dec. 20, 2024. [Photo by Xu Xiaoxuan/China.org.cn]
    The event concluded with a charity auction of paintings by Golden Wings students. Proceeds will support the center’s rehabilitation programs.

    MIL OSI China News

  • MIL-OSI China: Death anniv of Canadian surgeon Norman Bethune commemorated in China

    Source: China State Council Information Office 2

    A commemoration event was held in north China’s Hebei Province on Saturday to honor Canadian surgeon Norman Bethune for his selflessness and spirit of internationalism.
    Titled “Memories Through Time and Space,” the event was hosted by the North China Military Martyrs Cemetery in the provincial capital Shijiazhuang.
    Around 100 people, including soldiers, students and individuals from various walks of life, attended the event.
    This year marks the 85th death anniversary of Bethune, who died of blood poisoning at the age of 49 on Nov. 12, 1939 in China while aiding the Chinese people in their fight against Japanese aggression. His remains were relocated to the cemetery in 1953.
    The commemoration began at 10 a.m., with participants bowing before the surgeon’s tomb and presenting flower baskets.
    “My father met Norman Bethune in Spain during his recovery from battle injuries. Influenced by him, my father aspired to come to China, where he met my mother and later had me,” said Michael Crook, chairman of the International Committee for the Promotion of Chinese Industrial Cooperatives.
    His parents, David and Isabel Crook, played an important role in training a large number of foreign-language professionals for China.
    “The spirit of Bethune has not faded with time; instead, it has been widely inherited and carried forward in both China and Canada,” said Hu Jinqiang, director of the North China Military Martyrs Cemetery.
    Hu noted that today Bethune is not just a name but a symbol of internationalism, humanism and selfless dedication. “We commemorate him to inspire more people to remember history and carry forward his spirit.”

    MIL OSI China News