NewzIntel.com

Category: KB

  • MIL-OSI USA: Make the most of managing your medical, food, cash and child care benefits

    Source: US State of Oregon

    ealth insurance open enrollment starts Nov. 1, 2024. The Oregon Department of Human Services (ODHS) is expecting an increase in calls to our ONE Customer Service Center (800-699-9075). This may mean longer wait times. We know this can be frustrating, but we want you to know that there are several ways to make getting assistance with your benefits easier and faster. Here are some tips that you can use during open enrollment and year-round:

    1. Download the Oregon ONE Mobile app

    With the Oregon ONE Mobile app, you can manage your benefits on the go, including checking messages, application status, and more. And the best part? It’s free! Find download links at benefits.oregon.gov and handle most of your benefit needs from your smartphone.

    2. Check your application status online or in-app

    If you need to know the status of your application for medical, food, cash, or child care benefits, you don’t have to wait on hold. Simply log into your ONE Online account at benefits.oregon.gov or check the Oregon ONE Mobile app. Remember – each household only needs one application, so check your household’s application status instead of submitting another!

    3. Having tech troubles?

    We have a dedicated tech support line – so no need to wait in the ONE Customer Service Center line. Call 833-978-1073 to get help quickly. They are available Monday through Friday from 7 a.m. to 6 p.m. Pacific Time.

    4. Find an office near you

    Prefer face-to-face assistance? ODHS has local offices across Oregon, and our staff is ready to help you with benefit questions. You can find the office closest to you by visiting bit.ly/ODHSoffices.

    5. Gather your documents in advance

    Before you apply, make sure to have documents ready to verify your income, expenses, and other household details. This helps speed up the application process! Some situations may require additional documents like ID, citizenship (U.S. citizens) or immigration status (non-U.S. citizens). Check out this checklist for more information about what documents you may need.

    6. Try calling in the morning

    While we expect the ONE Customer Service Center (800-699-9075) to be busy during open enrollment, in general, call wait times are lowest between 7 and 8 a.m. Pacific Time.

    7. Stay on top of your messages

    You may receive messages about your benefits that need your prompt attention. Read and respond to these messages through your ONE Online account or on the Oregon ONE Mobile app to stay up-to-date. Having trouble viewing messages? Update Adobe Reader or Acrobat, or call tech support at 833-978-1073 if you need further assistance.

    8. Providing proof of benefits

    Need to show proof of your benefits? No need to call in! You can access eligibility notices in your ONE Online account or through the Oregon ONE Mobile app’s Message Center.

    9. Lost or stolen Oregon Trail (EBT) Card?

    If you lose your EBT card, report it immediately. Call 855-328-6715 during business hours (Monday through Friday between 8:30 a.m. and 4:30 p.m. Pacific Time) to cancel and request a new card. Outside business hours, call 888-997-4447 to freeze your account and protect your benefits 24/7.

    Navigating benefits can be stressful. But hopefully by following these tips, you can get the assistance you need efficiently – even during high call volume times. Visit benefits.oregon.gov for more information and to explore all your options.

    MIL OSI USA News –

  • MIL-Evening Report: How does a jury reach a conclusion? A new SBS show painstakingly recreates details to take us behind the scenes

    Source: The Conversation (Au and NZ) – By Xanthe Mallett, Forensic Criminologist, University of Newcastle

    SBS

    Juries are the bedrock of common law, and have been used for centuries to decide factual issues before the court.

    Jury research has for years attempted to improve our understanding of how jurors reach a conclusion, both individually and as a collective. But we have very little understanding of how each specific case is decided: in Australia, jurors are banned from discussing their deliberations outside of the jury room.

    Predicting the jury’s decision in criminal matters is impossible: the whole system remains totally opaque. This has been evident in a very high-profile case just this year, when a very surprising decision was handed down; I would love to be able to pick that one apart.

    A new show by SBS attempts to demystify the process. The Jury: Death on the Staircase follows the deliberations of 12 jurors as they listen to nine days’ worth of evidence in a real, concluded manslaughter case.

    Observing the trial, and the jury

    The names, dates, locations and images from the original case have been changed to make sure the jurors could not look up the result, and to protect the individuals involved in the real trial. These changes could, of course, alter the jury’s decision-making process.

    Actors are used to re-enact the trial, using transcripts of the original case to simulate the real trial as closely as possible. The jurors are everyday Australians who volunteered to take part in this experiment.

    The case revolves around the death of a man who was found at the bottom of a staircase, in the home he shared with his male partner.

    Other factors the jury attaches relevance to are the 20-year age gap between the deceased and the younger accused man, and the accused is Asian.

    We hear the pre-trial thoughts and motivations of the jurors, and some of the biases and prejudices start to show early on.

    As the trial unfolds, specific aspects of the accused’s personality impress different members of the jury – some finding points of commonality that encourage them to be very sympathetic, others highly sceptical of his innocence. This seems less based on the evidence being heard, and instead reflects directly the personality and life experience of the juror.

    The jurors, like a real jury, come from all walks of life, educational backgrounds, sexualities and ancestral groups. There are some big, dominant voices, as well as others who are much quieter and more circumspect.

    What surprised me while watching was that many of the impressions the jury discuss – and their interpretations of them – aren’t based on the evidence at all. They’re watching the accused, trying to get a read on his guilt or innocence from his body language, where he looks at certain times.

    None of them are body language experts, but they seem to think they can reliably extrapolate how he is feeling from observing him.

    Some of them also speculate wildly as to what could have happened, and why.
    If that’s what real jurors do, that’s worrying.

    I have some questions

    It’s hard to know how closely the producers mirrored the original case: was it a homosexual relationship, was there a large age gap, was the accused Asian?

    These factors are important, because the jury puts weight on them and hypothesises with these in mind.

    Another big question for me was how they chose the members of the jury. Was it random? If it was, they do not reflect the personalities of the original jurors and it is very clear that personality and life experience were heavily influential in each person’s response to the case.

    The question was asked by one of the jurors: what if they reach a different conclusion than the original, genuine jury? What would that mean for the accused?

    My sense was they were wondering if they found him not guilty of manslaughter, would that have any legal implication.

    The answer is no.

    It’s impossible to truly replicate a case. I would even suggest the same jury could reach a different conclusion at a different time, depending on what had happened in their lives recently and other external factors. Regardless of what result this jury reached, it could not hurt or help the real accused person.

    But it is certainly an interesting program, and will give the viewer an insight into what factors most influence jurors.

    It might also scare them slightly. We like to think juries make their decision based on the evidence put before them, but that does not appear to be the case, at least certainly not early on in the trial process.

    The jurors focused on how the accused lived their life, and judged him accordingly – both positively and negatively. The scientist in me feels that it would be great to repeat this experience, to see if the same or a different result was achieved under these, somewhat controlled conditions.

    I’d also love to see more access to real jurors, post decision: that is the only true way to gauge their thoughts and impressions as they work through a case. But as that is unlikely, this series is as close as we’ll get. It is worth a watch if you’re interested in how juries reach their – sometimes apparently inexplicable – decisions.

    The Jury: Death on the Staircase is on SBS and SBS On Demand from today.

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

    – ref. How does a jury reach a conclusion? A new SBS show painstakingly recreates details to take us behind the scenes – https://theconversation.com/how-does-a-jury-reach-a-conclusion-a-new-sbs-show-painstakingly-recreates-details-to-take-us-behind-the-scenes-242114

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: Parex Resources Announces Third Quarter Results, Declaration of Q4 2024 Dividend, and Operational Update

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Nov. 05, 2024 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce its financial and operating results for the three-month period ended September 30, 2024, the declaration of its Q4 2024 regular dividend of C$0.385 per share, as well as an operational update. All amounts herein are in United States Dollars (“USD”) unless otherwise stated.

    “Following lower than expected results, Management is focused on driving production efficiency and optimizing performance from our key assets,” commented Imad Mohsen, President & Chief Executive Officer.

    “As we transition from 2024 to our 2025 planning phase, we are committed to improving results, delivering safe and reliable production, and positioning Parex to outperform.”

    Key Highlights

    • Generated Q3 2024 funds flow provided by operations (“FFO”)(1) of $152 million and FFO per share(2)(3) of $1.50.
    • FY 2024 average production guidance increased from 48,000-50,000 boe/d to 49,000-50,000 boe/d, based on stable operations at key assets as well as successful well results at Capachos and LLA-32.
    • FY 2024 capital expenditure(6) guidance updated from $370-390 million to $350-370 million, based on a conservative capital program focused on improving capital returns.
    • Declared Q4 2024 regular dividend of C$0.385 per share(4) or C$1.54 per share annualized.
    • Repurchased approximately 4.5 million shares YTD 2024 under the Company’s current normal course issuer bid (“NCIB”).
    • October 2024 average production was 47,000 boe/d(5).

    Q3 2024 Results

    • Quarterly average oil & natural gas production was 47,569 boe/d(7).
    • Realized net income of $66 million or $0.65 per share basic(3).
    • Generated quarterly FFO(1) of $152 million and FFO per share(2)(3) of $1.50, a 4% decrease and a 1% increase from Q3 2023, respectively.
    • Current taxes decreased from Q2 2024 by $39 million due to reduced corporate production as well as lower global oil prices; the Company also moved from an estimated 15% surtax to a projected 10% surtax with the depreciation of Brent oil price in the quarter.
    • Produced an operating netback(2) of $39.64/boe and an FFO netback(2) of $34.58/boe from an average Brent price of $78.71/bbl.
    • Incurred $82 million of capital expenditures(6), primarily from activities at LLA-34, Capachos, LLA-32 and LLA-122.
    • Generated $69 million of free funds flow(6) that was used for return of capital initiatives and $20 million of bank debt repayment; working capital surplus(1) was $38 million and cash $147 million at quarter end.
    • Paid a C$0.385 per share(4) regular quarterly dividend and repurchased 1,584,650 shares.

    (1) Capital management measure. See “Non-GAAP and Other Financial Measures Advisory.”
    (2) Non-GAAP ratio. See “Non-GAAP and Other Financial Measures Advisory.”
    (3) Per share amounts (with the exception of dividends) are based on weighted-average common shares; dividends paid per share are based on the number of common shares outstanding at each dividend date.
    (4) Supplementary financial measure. See “Non-GAAP and Other Financial Measures Advisory.”
    (5) Light & medium crude oil: ~8,956 bbl/d, heavy crude oil: ~37,325 bbl/d, conventional natural gas: ~4,316 mcf/d; rounded for presentation purposes.
    (6) Non-GAAP financial measure. See “Non-GAAP and Other Financial Measures Advisory.”
    (7) See “Operational and Financial Highlights” for a breakdown of production by product type.

    Operational and Financial Highlights Three Months Ended Nine Months Ended  
    (unaudited) Sep. 30,   Sep. 30,   Jun. 30,   Sep. 30,  
      2024   2023   2024   2024  
    Operational        
    Average daily production        
    Light Crude Oil and Medium Crude Oil (bbl/d) 9,064   8,837   9,541   8,615  
    Heavy Crude Oil (bbl/d) 37,777   44,779   43,229   42,167  
    Crude Oil (bbl/d) 46,841   53,616   52,770   50,782  
    Conventional Natural Gas (mcf/d) 4,368   5,742   4,788   4,170  
    Oil & Gas (boe/d)(1) 47,569   54,573   53,568   51,477  
             
    Operating netback ($/boe)        
    Reference price – Brent ($/bbl) 78.71   85.92   85.03   81.82  
    Oil & gas sales(4) 68.75   75.83   75.21   71.69  
    Royalties(4) (10.59 ) (13.72 ) (12.54 ) (11.48 )
    Net revenue(4) 58.16   62.11   62.67   60.21  
    Production expense(4) (14.81 ) (9.73 ) (12.95 ) (13.43 )
    Transportation expense(4) (3.71 ) (3.56 ) (3.40 ) (3.50 )
    Operating netback ($/boe)(2) 39.64   48.82   46.32   43.28  
             
    Funds flow provided by operations netback ($/boe)(2) 34.58   31.28   37.34   34.43  
             
    Financial ($000s except per share amounts)        
             
    Net income 65,793   119,736   3,845   129,731  
    Per share – basic(6) 0.65   1.13   0.04   1.27  
             
    Funds flow provided by operations(5) 151,773   157,839   180,952   481,032  
    Per share – basic(2)(6) 1.50   1.49   1.77   4.71  
             
    Capital expenditures(3) 82,367   156,747   97,797   265,585  
             
    Free funds flow(3) 69,406   1,092   83,155   215,447  
             
    EBITDA(3) 167,763   221,271   195,940   555,781  
    Adjusted EBITDA(3) 164,002   225,784   230,547   582,777  
             
    Long-term inventory expenditures (6,318 ) (374 ) 9,817   7,342  
             
    Dividends paid 28,467   29,239   28,528   85,526  
    Per share – Cdn$(4) 0.385   0.375   0.385   1.145  
             
    Shares repurchased 20,723   24,273   21,367   57,381  
    Number of shares repurchased (000s) 1,585   1,240   1,298   3,803  
             
    Outstanding shares (end of period) (000s)        
    Basic 100,031   105,014   101,616   100,031  
    Weighted average basic 100,891   105,621   102,259   102,203  
    Diluted(8) 100,933   105,722   102,528   100,933  
             
    Working capital surplus (deficit)(5) 37,509   (57,511 ) 34,156   37,509  
    Bank debt(7) 30,000   —   50,000   30,000  
    Cash 147,454   34,548   119,468   147,454  

    (1) Reference to crude oil or natural gas in the above table and elsewhere in this press release refer to the light and medium crude oil and heavy crude oil and conventional natural gas, respectively, product types as defined in National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities.
    (2) Non-GAAP ratio. See “Non-GAAP and Other Financial Measures Advisory”.
    (3) Non-GAAP financial measure. See “Non-GAAP and Other Financial Measures Advisory”.
    (4) Supplementary financial measure. See “Non-GAAP and Other Financial Measures Advisory”.
    (5) Capital management measure. See “Non-GAAP and Other Financial Measures Advisory”.
    (6) Per share amounts (with the exception of dividends) are based on weighted average common shares. Dividends paid per share are based on the number of common shares outstanding at each dividend record date.
    (7) Syndicated bank credit facility borrowing base of $200.0 million as at September 30, 2024.
    (8) Diluted shares as stated include common shares and stock options outstanding at period end; September 30, 2024 closing price was C$12.00 per share.

    Operational Update

    2024 Corporate Guidance Update

    FY 2024 average production guidance has been updated to 49,000 to 50,000 boe/d (49,500 boe/d midpoint) and concurrently, capital expenditure(5) guidance for the year has been updated to $350 to $370 million ($360 million midpoint).

    At $80/bbl Brent crude oil price, funds flow provided by operations(4) is expected to be $575 to $585 million and generate roughly $220 million of free funds flow(5) at the midpoint of guidance. A key driver of the funds flow provided by operations increase from the prior updated guidance is a lower projected effective tax rate for FY 2024.

    Category 2024 Updated Guidance
    (August 28, 2024)    		 2024 Updated Guidance
    (November 5, 2024)
    Brent Crude Oil Average Price $80/bbl $80/bbl
    Average Production 48,000-50,000 boe/d 49,000-50,000 boe/d
    Funds Flow Provided by Operations Netback(1)(2)(3) $30-32/boe $31-33/boe
    Funds Flow Provided by Operations(4) $545-565 million $575-585 million
    Capital Expenditures(5) $370-390 million $350-370 million
    Free Funds Flow(5) $175 million (midpoint) $220 million (midpoint)

    (1) Non-GAAP ratio. See “Non-GAAP and Other Financial Measures Advisory”.
    (2) 2024 updated assumptions: Vasconia differential: ~$4/bbl; production expense: $13-14/bbl; transportation expense: ~$3.50/bbl; G&A expense: ~$4.00/bbl; effective tax rate: 14-17%.
    (3) Supplementary financial measure. See “Non-GAAP and Other Financial Measures Advisory”.
    (4) Capital management measure. See “Non-GAAP and Other Financial Measures Advisory”.
    (5) Non-GAAP financial measure. See “Non-GAAP and Other Financial Measures Advisory”.

    Cabrestero and LLA-34(1)(2)

    The Cabrestero and LLA-34 blocks had average production of approximately 37,000 bbl/d of heavy crude oil (net) combined in Q3 2024. During the quarter, both blocks experienced higher-than-expected downtime that adversely affected quarterly production.

    Additionally, at both blocks, annual decline rates are broadly in line with Management budgeting where there is a continued focus on ramping up injection rates. At Cabrestero specifically, the Company continues to progress its polymer injection pilot and is moving towards approving a full field expansion based on success to date.

    (1) Cabrestero: 100% W.I.
    (2) LLA-34: 55% W.I.

    LLA-32 – Exploitation Update(1)

    Following the mid-year reallocation of 2024 capital to LLA-32, the Company has now drilled three successful wells on the block. The most recent well, the second follow-up appraisal well, is producing roughly 2,000 bbl/d of light crude oil (gross)(2). Based on success to date, Parex is continuing to invest capital and has spud a horizontal well.

    (1) 87.5% W.I.
    (2) Short-term production rate. See “Oil & Gas Matters Advisory.”

    Northern Llanos – Capachos Update(1)

    The first well of a three-well campaign came online in late Q3 2024. The well is currently producing roughly 4,000 bbl/d of light crude oil with approximately 6,000 mcf/d of natural gas (gross)(2).

    Parex plans to fulfill an exploration commitment and spud the second well of the campaign in the coming weeks.

    (1) 50% W.I.
    (2) Short-term production rate. See “Oil & Gas Matters Advisory.”

    Northern Llanos – Arauca(1)

    The Arauca-81 well is expected to be onstream in Q4 2024, following a successful operational sidetrack.

    (1) Business Collaboration Agreement with Ecopetrol S.A. (Parex 50% Participating Share); Ecopetrol S.A. currently holds 100% of the working interest in the Convenio Arauca while the assignment procedure is pending.

    Big ‘E’ Exploration – Llanos Foothills – LLA-122(1)

    The drilling of the Arantes well in the high-potential Colombian Foothills continues to progress on an extended timeline. In Q3 2024, an operational sidetrack was executed following a stuck pipe event; the sidetrack was successful, and the well is now at roughly 17,750 feet. Parex is progressing toward the setting of the final liner immediately above the zones of interest, prior to drilling and evaluating the prospective zones. Based on the current pace of operations, the Company expects preliminary results by YE 2024.

    (1) 50% W.I.

    Return of Capital Update

    Q4 2024 Dividend

    Parex’s Board of Directors have approved a Q4 2024 regular dividend of C$0.385 per share to shareholders of record on December 9, 2024, to be paid on December 16, 2024. This regular dividend payment to shareholders is designated as an “eligible dividend” for purposes of the Income Tax Act (Canada).

    Current Normal Course Issuer Bid

    As at October 31, 2024, Parex has repurchased approximately 4.5 million shares under its current NCIB, for total consideration of roughly C$85 million.

    2025 Budget & Guidance

    The Company continues to assess its short- and long-term development and exploration opportunities as it progresses through its 2025 budgeting and planning process, with next year’s corporate guidance expected to be released in January 2025.

    Q3 2024 Results – Conference Call & Webcast

    Parex will host a conference call and webcast to discuss its Q3 2024 results on Wednesday, November 6, 2024, beginning at 9:30 am MT (11:30 am ET). To participate in the conference call or webcast, please see the access information below:

    Conference ID:   7102953
    Participant Toll-Free Dial-In Number   1-646-307-1963
    Participant Dial-In Number:   1-647-932-3411
    Webcast:   https://events.q4inc.com/attendee/321063614
         

    About Parex Resources Inc.

    Parex is one of the largest independent oil and gas companies in Colombia, focusing on sustainable conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogotá, Colombia. Parex shares trade on the Toronto Stock Exchange under the symbol PXT.

    For more information, please contact:

    Mike Kruchten
    Senior Vice President, Capital Markets & Corporate Planning
    Parex Resources Inc.
    403-517-1733
    investor.relations@parexresources.com

    Steven Eirich
    Investor Relations & Communications Advisor
    Parex Resources Inc.
    587-293-3286
    investor.relations@parexresources.com

    NOT FOR DISTRIBUTION OR FOR DISSEMINATION IN THE UNITED STATES

    Non-GAAP and Other Financial Measures Advisory

    This press release uses various “non-GAAP financial measures”, “non-GAAP ratios”, “supplementary financial measures” and “capital management measures” (as such terms are defined in NI 52-112), which are described in further detail below. Such measures are not standardized financial measures under IFRS and might not be comparable to similar financial measures disclosed by other issuers. Investors are cautioned that non-GAAP financial measures should not be construed as alternatives to or more meaningful than the most directly comparable GAAP measures as indicators of Parex’s performance.

    These measures facilitate management’s comparisons to the Company’s historical operating results in assessing its results and strategic and operational decision-making and may be used by financial analysts and others in the oil and natural gas industry to evaluate the Company’s performance. Further, management believes that such financial measures are useful supplemental information to analyze operating performance and provide an indication of the results generated by the Company’s principal business activities.

    Set forth below is a description of the non-GAAP financial measures, non-GAAP ratios, supplementary financial measures and capital management measures used in this press release.

    Non-GAAP Financial Measures

    Capital expenditures, is a non-GAAP financial measure which the Company uses to describe its capital costs associated with oil and gas expenditures. The measure considers both property, plant and equipment expenditures and exploration and evaluation asset expenditures which are items in the Company’s statement of cash flows for the period and is calculated as follows:

     
      For the three months ended       For the nine months ended  
      Sep. 30,     Sep. 30,   Jun. 30,       Sep. 30,  
    ($000s)   2024       2023     2024       2024  
    Property, plant and equipment expenditures $ 68,406     $ 93,957   $ 49,214     $ 158,451  
    Exploration and evaluation expenditures   13,961       62,790     48,583       107,134  
    Capital expenditures $ 82,367     $ 156,747   $ 97,797     $ 265,585  


    Free funds flow,     is a non-GAAP financial measure that is determined by funds flow provided by operations less capital expenditures. The Company considers free funds flow to be a key measure as it demonstrates Parex’s ability to fund return of capital, such as the NCIB and dividends, without accessing outside funds and is calculated as follows:

     
      For the three months ended     For the nine months ended  
        Sep. 30,     Sep. 30,     Jun. 30,       Sep. 30,  
    ($000s)   2024       2023     2024       2024  
    Cash provided by operating activities $ 181,874     $ 87,568   $ 222,782     $ 502,068  
    Net change in non-cash working capital   (30,101 )     70,271     (41,830 )     (21,036 )
    Funds flow provided by operations   151,773       157,839     180,952       481,032  
    Capital expenditures   82,367       156,747     97,797       265,585  
    Free funds flow $ 69,406     $ 1,092   $ 83,155     $ 215,447  


    EBITDA    , is a non-GAAP financial measure that is defined as net income adjusted for finance income and expenses, income tax expense (recovery) and depletion, depreciation and amortization.

    Adjusted EBITDA, is a non-GAAP financial measure defined as EBITDA adjusted for non-cash impairment charges, unrealized foreign exchange gains (losses), unrealized gains (losses) on risk management contracts and share-based compensation expense (recovery).

    The Company considers EBITDA and Adjusted EBITDA to be key measures as they demonstrates Parex’s profitability before finance income and expenses, taxes, depletion, depreciation and amortization and other non-cash items. A reconciliation from net income to EBITDA and Adjusted EBITDA is as follows:

     
      For the three months ended     For the nine months ended  
        Sep. 30,       Sep. 30,       Jun. 30,       Sep. 30,  
    ($000s)   2024       2023       2024       2024  
    Net income $ 65,793     $ 119,736     $ 3,845     $ 129,731  
    Adjustments to reconcile net income to EBITDA:              
    Finance income   (963 )     (2,496 )     (1,097 )     (3,317 )
    Finance expense   7,494       5,219       5,421       18,109  
    Income tax expense   42,767       49,995       130,888       249,472  
    Depletion, depreciation and amortization   52,672       48,817       56,883       161,786  
    EBITDA $ 167,763     $ 221,271     $ 195,940     $ 555,781  
    Non-cash impairment charges   —       2,189       4,661       4,661  
    Share-based compensation expense (recovery)   (7,994 )     4,642       5,770       (4,687 )
    Unrealized foreign exchange loss (gain)   4,233       (2,318 )     24,176       27,022  
    Adjusted EBITDA $ 164,002     $ 225,784     $ 230,547     $ 582,777  


    Non-GAAP Ratios

    Operating netback per boe, is a non-GAAP ratio that the Company considers to be a key measure as it demonstrates Parex’ profitability relative to current commodity prices. Parex calculates operating netback per boe as operating netback (calculated as oil and natural gas sales from production, less royalties, operating, and transportation expense) divided by the total equivalent sales volume including purchased oil volumes for oil and natural gas sales price and transportation expense per boe and by the total equivalent sales volume excluding purchased oil volumes for royalties and operating expense per boe.

    Funds flow provided by operations netback per boe or FFO netback per boe, is a non-GAAP ratio that includes all cash generated from operating activities and is calculated before changes in non-cash working capital, divided by produced oil and natural gas sales volumes. The Company considers funds flow provided by operations netback per boe to be a key measure as it demonstrates Parex’s profitability after all cash costs relative to current commodity prices.

    Basic funds flow provided by operations per share or FFO per share, is a non-GAAP ratio that is calculated by dividing funds flow provided by operations by the weighted average number of basic shares outstanding. Parex presents basic funds flow provided by operations per share whereby per share amounts are calculated using weighted-average shares outstanding, consistent with the calculation of earnings per share. The Company considers basic funds flow provided by operations per share or FFO per share to be a key measure as it demonstrates Parex’s profitability after all cash costs relative to the weighted average number of basic shares outstanding.

    Capital Management Measures

    Funds flow provided by operations, is a capital management measure that includes all cash generated from operating activities and is calculated before changes in non-cash working capital. The Company considers funds flow provided by operations to be a key measure as it demonstrates Parex’s profitability after all cash costs. A reconciliation from cash provided by operating activities to funds flow provided by operations is as follows:

     
      For the three months ended     For the nine months ended  
        Sep. 30,     Sep. 30,     Jun. 30,       Sep. 30,  
    ($000s)   2024       2023     2024       2024  
    Cash provided by operating activities $ 181,874     $ 87,568   $ 222,782     $ 502,068  
    Net change in non-cash working capital   (30,101 )     70,271     (41,830 )     (21,036 )
    Funds flow provided by operations $ 151,773     $ 157,839   $ 180,952     $ 481,032  


    Working capital surplus (deficit),     is a capital management measure which the Company uses to describe its liquidity position and ability to meet its short-term liabilities. Working capital surplus (deficit) defined as current assets less current liabilities.

     
      For the three months ended     For the nine months ended  
      Sep. 30,       Sep. 30,     Jun. 30,     Sep. 30,  
    ($000s)   2024       2023       2024     2024  
    Current assets $ 248,208     $ 240,559     $ 281,846   $ 248,208  
    Current liabilities   210,699       298,070       247,690     210,699  
    Working capital surplus (deficit) $ 37,509     $ (57,511 )   $ 34,156   $ 37,509  


    Supplementary Financial Measures

    “Oil and natural gas sales per boe” is determined by sales revenue excluding risk management contracts, as determined in accordance with IFRS, divided by total equivalent sales volume including purchased oil volumes.

    “Royalties per boe” is comprised of royalties, as determined in accordance with IFRS, divided by the total equivalent sales volume and excludes purchased oil volumes.

    “Net revenue per boe” is comprised of net revenue, as determined in accordance with IFRS, divided by the total equivalent sales volume and excludes purchased oil volumes.

    “Production expense per boe” is comprised of production expense, as determined in accordance with IFRS, divided by the total equivalent sales volume and excludes purchased oil volumes.

    “Transportation expense per boe” is comprised of transportation expense, as determined in accordance with IFRS, divided by the total equivalent sales volumes including purchased oil volumes.

    “Dividends paid per share” is comprised of dividends declared, as determined in accordance with IFRS, divided by the number of shares outstanding at the dividend record date.

    Oil & Gas Matters Advisory

    The term “Boe” means a barrel of oil equivalent on the basis of 6 Mcf of natural gas to 1 barrel of oil (“bbl”). Boe’s may be misleading, particularly if used in isolation. A boe conversation ratio of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6 Mcf: 1Bbl, utilizing a conversion ratio at 6 Mcf: 1 Bbl may be misleading as an indication of value.

    This press release contains a number of oil and gas metrics, including, operating netbacks and FFO netbacks. These oil and gas metrics have been prepared by management and do not have standardized meanings or standard methods of calculation and therefore such measures may not be comparable to similar measures used by other companies and should not be used to make comparisons. Such metrics have been included herein to provide readers with additional measures to evaluate the Company’s performance; however, such measures are not reliable indicators of the future performance of the Company and future performance may not compare to the performance in previous periods and therefore such metrics should not be unduly relied upon. Management uses these oil and gas metrics for its own performance measurements and to provide security holders with measures to compare the Company’s operations over time. Readers are cautioned that the information provided by these metrics, or that can be derived from the metrics presented in this news release, should not be relied upon for investment or other purposes.

    Any reference in this press release to short-term production rates are useful in confirming the presence of hydrocarbons, however such rates are not determination of the rates at which such wells will continue production and decline thereafter and readers are cautioned not to place reliance on such rates in calculating the aggregate production of Parex.

    Distribution Advisory

    The Company’s future shareholder distributions, including but not limited to the payment of dividends and the acquisition by the Company of its shares pursuant to an NCIB, if any, and the level thereof is uncertain. Any decision to pay further dividends on the common shares (including the actual amount, the declaration date, the record date and the payment date in connection therewith and any special dividends) or acquire shares of the Company will be subject to the discretion of the Board of Directors of Parex and may depend on a variety of factors, including, without limitation the Company’s business performance, financial condition, financial requirements, growth plans, expected capital requirements and other conditions existing at such future time including, without limitation, contractual restrictions and satisfaction of the solvency tests imposed on the Company under applicable corporate law. Further, the actual amount, the declaration date, the record date and the payment date of any dividend are subject to the discretion of the Board. There can be no assurance that the Company will pay dividends or repurchase any shares of the Company in the future.

    Advisory on Forward Looking Statements

    Certain information regarding Parex set forth in this document contains forward-looking statements that involve substantial known and unknown risks and uncertainties. The use of any of the words “plan”, “expect”, “prospective”, “project”, “intend”, “believe”, “should”, “anticipate”, “estimate”, “forecast”, “guidance”, “budget” or other similar words, or statements that certain events or conditions “may” or “will” occur are intended to identify forward-looking statements. Such statements represent Parex’s internal projections, estimates or beliefs concerning, among other things, future growth, results of operations, production, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, plans for and results of drilling activity, environmental matters, business prospects and opportunities. These statements are only predictions and actual events or results may differ materially. Although the Company’s management believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievement since such expectations are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause Parex’s actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Parex.

    In particular, forward-looking statements contained in this document include, but are not limited to, statements with respect to: the Company’s focus, plans, priorities and strategies; average production guidance and capital expenditure guidance; expectations and plans regarding the Cabrestero and LLA-34 blocks, the LLA-32 block, Northern Llanos – Capachos, the Arauca-81 well, and Llanos Foothills – LLA-122; the anticipated terms of the Company’s Q4 2024 regular quarterly dividend, including its expectation that it will be designated as an “eligible dividend”; and the anticipated date and time of Parex’s conference call to discuss Q3 2024 results.

    These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to, the impact of general economic conditions in Canada and Colombia; prolonged volatility in commodity prices; industry conditions including changes in laws and regulations including adoption of new environmental laws and regulations, and changes in how they are interpreted and enforced in Canada and Colombia; determinations by OPEC and other countries as to production levels; competition; lack of availability of qualified personnel; the results of exploration and development drilling and related activities; obtaining required approvals of regulatory authorities in Canada and Colombia; the risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities; volatility in market prices for oil; fluctuations in foreign exchange or interest rates; environmental risks; changes in income tax laws or changes in tax laws and incentive programs relating to the oil industry; changes to pipeline capacity; ability to access sufficient capital from internal and external sources; failure of counterparties to perform under contracts; the risk that Brent oil prices may be lower than anticipated; the risk that Parex’s evaluation of its existing portfolio of development and exploration opportunities may not be consistent with its expectations; the risk that Parex may not have sufficient financial resources in the future to provide distributions to its shareholders; the risk that the Board may not declare dividends in the future or that Parex’s dividend policy changes; the risk that Parex may not be responsive to changes in commodity prices; the risk that Parex may not meet its production guidance for the year ended December 31, 2024; the risk that Parex’s 2024 capital expenditures may be greater than anticipated; the risk that plans and expectations related to Parex’s drilling program as disclosed herein do not materialize as expected and/or at all; the risk that Parex may not be able to increase production into year end; and other factors, many of which are beyond the control of the Company.

    Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Parex’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR+ website (www.sedarplus.ca).

    Although the forward-looking statements contained in this document are based upon assumptions which Management believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this document, Parex has made assumptions regarding, among other things: current and anticipated commodity prices and royalty regimes; availability of skilled labour; timing and amount of capital expenditures; future exchange rates; the price of oil, including the anticipated Brent oil price; the impact of increasing competition; conditions in general economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental agencies; receipt of partner, regulatory and community approvals; royalty rates; future operating costs; uninterrupted access to areas of Parex’s operations and infrastructure; recoverability of reserves and future production rates; the status of litigation; timing of drilling and completion of wells; on-stream timing of production from successful exploration wells; operational performance of non-operated producing fields; pipeline capacity; that Parex will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that Parex’s conduct and results of operations will be consistent with its expectations; that Parex will have the ability to develop its oil and gas properties in the manner currently contemplated; that Parex’s evaluation of its existing portfolio of development and exploration opportunities is consistent with its expectations; current or, where applicable, proposed industry conditions, laws and regulations will continue in effect or as anticipated as described herein; that the estimates of Parex’s production and reserves volumes and the assumptions related thereto (including commodity prices and development costs) are accurate in all material respects; that Parex will be able to obtain contract extensions or fulfill the contractual obligations required to retain its rights to explore, develop and exploit any of its undeveloped properties; that Parex will have sufficient financial resources to pay dividends and acquire shares pursuant to its NCIB in the future; that Parex is able to execute its plans with respect to the Company’s drilling program as disclosed herein; and other matters.

    Management has included the above summary of assumptions and risks related to forward-looking information provided in this document in order to provide shareholders with a more complete perspective on Parex’s current and future operations and such information may not be appropriate for other purposes. Parex’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits Parex will derive. These forward-looking statements are made as of the date of this document and Parex disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

    This press release contains information that may be considered a financial outlook under applicable securities laws about the Company’s potential financial position, including, but not limited to; Parex’s FY 2024 capital expenditure guidance and midpoint capital expenditure guidance; Parex 2024 guidance, including anticipated Brent crude oil average prices, funds flow provided by operations netback; funds flow provided by operations, capital expenditures, free funds flow; and the anticipated terms of the Company’s Q4 2024 regular quarterly dividend including its expectation that it will be designated as an “eligible dividend”, all of which are subject to numerous assumptions, risk factors, limitations and qualifications, including those set forth in the above paragraphs. The actual results of operations of the Company and the resulting financial results will vary from the amounts set forth in this press release and such variations may be material. This information has been provided for illustration only and with respect to future periods are based on budgets and forecasts that are speculative and are subject to a variety of contingencies and may not be appropriate for other purposes. Accordingly, these estimates are not to be relied upon as indicative of future results. Except as required by applicable securities laws, the Company undertakes no obligation to update such financial outlook. The financial outlook contained in this press release was made as of the date of this press release and was provided for the purpose of providing further information about the Company’s potential future business operations. Readers are cautioned that the financial outlook contained in this press release is not conclusive and is subject to change.

    The following abbreviations used in this press release have the meanings set forth below:

    bbl   one barrel
    bbls   barrels
    bbl/d   barrels per day
    boe   barrels of oil equivalent of natural gas; one barrel of oil or natural gas liquids for six thousand cubic feet of natural gas
    boe/d   barrels of oil equivalent of natural gas per day
    mcf   thousand cubic feet
    mcf/d   thousand cubic feet per day
    W.I.   working interest
     

    PDF available: http://ml.globenewswire.com/Resource/Download/036d688c-0a1e-4b88-a59e-ea8a6ec811a7

    The MIL Network –

  • MIL-OSI: CEO Hwang Kyu-jin of Ionpolis Co., Ltd. Targets the Southeast Asian Market by Participating in K-Expo

    Source: GlobeNewswire (MIL-OSI)

    SEOUL, KOREA, Nov. 05, 2024 (GLOBE NEWSWIRE) — Ionpolis Co., Ltd., a company specializing in filter showerheads, will participate in the K-Expo held from November 14th to 17th at the Sheraton Grand Gandaria City Hotel in Jakarta, Indonesia. This expo is an important event aimed at promoting excellent Korean products and technologies worldwide and facilitating entry into global markets. It is particularly regarded as an opportunity for Korean companies to solidify their position in the Southeast Asian market.

    Ionpolis, a company specializing in filter showerheads that provide clean water and a healthy shower environment, plans to actively target the Southeast Asian market through this expo. CEO Hwang kyu-jin stated, “Consumers across Southeast Asia, including Indonesia, are showing increased interest in healthy water. Therefore, we expect the demand for filter showerheads to steadily expand.” He emphasized that this expo will be a crucial opportunity to widely promote Ionpolis’s technological prowess to the world and strengthen networks with local partners.

    At this expo, Ionpolis plans to exhibit various filter showerhead products. In particular, they intend to showcase their latest product lineup that reflects diverse consumer needs. Ionpolis’s filter showerheads are gaining significant attention for their ability to effectively remove harmful substances that may be present in tap water during showers. Notably, CEO Hwang kyu-jin emphasized the technological excellence and environmentally friendly design of the products, explaining why Ionpolis can be competitive in the global market.

    Ionpolis has established itself as a trusted brand in the South Korean domestic market with great success. CEO Hwang kyu-jin said, “Based on the technological prowess and customer trust we’ve accumulated domestically, we are expecting a new leap forward in the Southeast Asian market.” He also added, “At this expo, we are focusing on expanding partnerships through meetings with local buyers and developing localization strategies tailored to the Indonesian market.” Through this, Ionpolis plans to go beyond simply selling products and introduce customized products that meet the needs and lifestyle patterns of local consumers.

    CEO Hwang kyu-jin sees this K-Expo as a crucial turning point for Ionpolis’s global market expansion. He particularly expects successful entry into Southeast Asian markets, including Indonesia. He expressed confidence, saying, “The Southeast Asian market is a region with huge growth potential, and I believe Ionpolis’s filter showerheads can be loved by many consumers in this region.”

    The K-Expo is an international trade event where various Korean industries gather to showcase innovative products and technologies. Every year, numerous overseas buyers and visitors participate. Through this expo, Ionpolis plans to introduce its innovative filter showerhead products to the world and lay the groundwork for its leap to becoming a global brand.

    CEO Hwang kyu-jin stated, “This expo is an important opportunity for Ionpolis to take another step forward in the global market,” and expressed his ambition, “We will continue to establish ourselves as a brand that consumers around the world can trust and choose through continuous innovation and quality improvement.” Under Ionpolis’s global strategy and CEO Hwang’s leadership, successful expansion in the filter showerhead market is anticipated.

    Media contact

    Company: Ionpolis Co., Ltd

    Contact: Park Ki Woong

    Email: cs@ionpolis.com

    Website: http://ionpolis.com/

    The MIL Network –

  • MIL-OSI China: World Urban Forum participants praise China’s efforts to promote urban greening

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

    CAIRO, Nov. 5 — Participants at the 12th session of the World Urban Forum (WUF12) in Egypt on Tuesday spoken highly of the Chinese experience in promoting green cities.

    “The Chinese steps towards urban greening, with much focus on promoting the concept of nature in cities, are noticeable,” said Simon Borelli, urban forestry officer and coordinator of Green Cities Initiatives Forestry Division of the UN Food and Agriculture Organization.

    “Looking at recreating natural ecosystems, and not just rows of trees and plantations, is an essential step forward for making cities more resilient and more prepared for climate change,” he added, stressing that China has been working on building park cities with a more holistic view.

    Noting China’s focus on improving urban living, the coordinator said its experience could benefit Africa, home to the largest number of developing countries.

    Shi Nan, secretary general of the Urban Planning Society of China, said, “We are trying to share our experiences and also the lessons regarding sustainable development.”

    “The city is not only … a settlement for people, but also the home for animals, forest, trees, and grasses,” he said.

    Regarding Egypt’s urban development, Shi said he was impressed by Egypt’s rich civilization, which has played a significant role in the country’s urban growth.

    There is significant potential for cooperation between China and Egypt, both of which boast ancient civilizations, he added.

    Co-organized by the United Nations Human Settlements Programme (UN-Habitat) and the Egyptian government, the WUF12 commenced on Monday and will continue until Friday.

    MIL OSI China News –

  • MIL-OSI China: China-Europe SMILE satellite to depart for Europe

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

    China-Europe SMILE satellite to depart for Europe

    Updated: November 6, 2024 09:01 Xinhua
    Technicians check the Solar Wind Magnetosphere Ionosphere Link Explorer (SMILE) at a workshop of the Innovation Academy for Microsatellites of Chinese Academy of Sciences (CAS) in Shanghai, east China, Nov. 4, 2024. The SMILE is a joint mission between the CAS and the European Space Agency (ESA) that aims to deepen the understanding of the Sun-Earth connection by observing the dynamic interaction between the solar wind and the Earth’s magnetosphere. The SMILE satellite has completed the development work in China, including satellite testing, system interface testing and environmental experiments, according to the National Space Science Center of the CAS. The SMILE is about to depart for Europe. It is scheduled for launch by the end of 2025 from Europe’s space launch site in Kourou, French Guiana, by Arianespace’s Vega-C launch vehicle. [Photo/Xinhua]
    A technician checks the Solar Wind Magnetosphere Ionosphere Link Explorer (SMILE) at a workshop of the Innovation Academy for Microsatellites of Chinese Academy of Sciences (CAS) in Shanghai, east China, Nov. 4, 2024. [Photo/Xinhua]
    A technician checks the Solar Wind Magnetosphere Ionosphere Link Explorer (SMILE) at a workshop of the Innovation Academy for Microsatellites of Chinese Academy of Sciences (CAS) in Shanghai, east China, Nov. 4, 2024. [Photo/Xinhua]
    A technician measures the Solar Wind Magnetosphere Ionosphere Link Explorer (SMILE) at a workshop of the Innovation Academy for Microsatellites of Chinese Academy of Sciences (CAS) in Shanghai, east China, Nov. 4, 2024. [Photo/Xinhua]
    Technicians check the Solar Wind Magnetosphere Ionosphere Link Explorer (SMILE) at a workshop of the Innovation Academy for Microsatellites of Chinese Academy of Sciences (CAS) in Shanghai, east China, Nov. 4, 2024. [Photo/Xinhua]
    Technicians pack the battery pack of the Solar Wind Magnetosphere Ionosphere Link Explorer (SMILE) at a workshop of the Innovation Academy for Microsatellites of Chinese Academy of Sciences (CAS) in Shanghai, east China, Nov. 4, 2024. [Photo/Xinhua]
    Customs officers check the packages for the Solar Wind Magnetosphere Ionosphere Link Explorer (SMILE) at a workshop of the Innovation Academy for Microsatellites of Chinese Academy of Sciences (CAS) in Shanghai, east China, Nov. 4, 2024. [Photo/Xinhua]
    A technician checks the Solar Wind Magnetosphere Ionosphere Link Explorer (SMILE) at a workshop of the Innovation Academy for Microsatellites of Chinese Academy of Sciences (CAS) in Shanghai, east China, Nov. 4, 2024. [Photo/Xinhua]
    A technician packs the battery pack of the Solar Wind Magnetosphere Ionosphere Link Explorer (SMILE) at a workshop of the Innovation Academy for Microsatellites of Chinese Academy of Sciences (CAS) in Shanghai, east China, Nov. 4, 2024. [Photo/Xinhua]
    Technicians measure the Solar Wind Magnetosphere Ionosphere Link Explorer (SMILE) at a workshop of the Innovation Academy for Microsatellites of Chinese Academy of Sciences (CAS) in Shanghai, east China, Nov. 4, 2024. [Photo/Xinhua]
    A technician checks the Solar Wind Magnetosphere Ionosphere Link Explorer (SMILE) at a workshop of the Innovation Academy for Microsatellites of Chinese Academy of Sciences (CAS) in Shanghai, east China, Nov. 4, 2024. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: HK release soars to top of national box office

    Source: China State Council Information Office 3

    Cesium Fallout, a disaster film starring icons Andy Lau and Bai Yu, overtook Hollywood blockbuster Venom: The Last Dance to become the country’s new box-office champion on Monday.

    As of Nov 4, the feature directed by Anthony Pun has grossed around 90 million yuan ($12.7 million) since its debut on Friday, according to the movie information live tracer, Beacon.

    Set in Hong Kong, it follows two parallel storylines about teams of specialists and firefighters as they try to prevent a doomsday disaster following an accident that leads to the release of Cesium-137, a radioactive isotope.

    During the film’s Beijing premiere last week, executive producer Bill Kong, revealed that his inspiration for the film stemmed from reports about the illegal transshipment of waste from other countries.

    He consulted environmental experts, who disclosed that some foreign companies previously dumped electronic waste overseas to reduce recycling expenses, with a portion being directed to Hong Kong.

    He emphasized the danger posed by electronic waste, highlighting the potential environmental harm if the substances they contain leached into the soil, contaminating water sources, and expressed the hope that the film would increase public awareness of the issue.

    MIL OSI China News –

  • MIL-OSI New Zealand: Health and Employment – Nurses stop work across the country – NZNO

    Source: New Zealand Nurses Organisation

    Members of the New Zealand Nurses Organisation Tōpūtanga Tapuhi Kaitiaki o Aotearoa (NZNO) employed by Te Whatu Ora are attending a series of 62 meetings across the country over urgent pressing issues.
    These hour-long meetings started on Monday and end on Friday. They aim to allow nurses, midwives, and health care assistants to review Te Whatu Ora’s intention to pause calculations for the Care Capacity Demand Management (CCDM) safe staffing programme during collective bargaining late last month.
    The employer restricting bargaining parameters to 1% of total employee costs will also be discussed.
    Meeting schedule for Thursday:
    • Whangārei – Whangārei Hospital 2nd Floor Conference Room – 2.30pm-3.30pm
    • Kaitāia – Kaitāia Hospital level 3/meeting room 1 – 2.30pm-3.30pm
    • Dargaville – Dargaville Hospital, Dargaville ward lounge – 2.30pm-3.30pm
    • Bay of Islands – Community Building Meeting Room – 2.30pm-3.30pm
    • Auckland – Greenlane Hospital, Building 13, Level 7 – 8.30am-9.30am & 10am-11am
    • Auckland – Waitakere Hospital – Muriwai A wing dining room – 2.45pm-3.45pm
    • Auckland – Manukau Health Park – Conference Room 1 – 12pm-1pm
    • Whakatāne – Clinical School Conference Hall, Whakatāne Hospital – 1.30pm-2.30pm
    • Tokoroa – Library Tokoroa Hospital – 11am-12pm
    • Hawkes Bay – Harding Hall Hastings Hospital – 1pm-2pm
    • Whanganui – Whanganui Jockey Club – 1.30pm-2.30pm
    • Wairarapa – Wairarapa Hospital -2.30pm-3.30pm
    • Blenheim – Wesley Centre – 1.30pm-2.30pm
    • Nelson – Finance Meeting Room, Braemar Campus, Nelson Hospital – 1pm-2pm & 2pm-3pm
    • Timaru – Caroline Bay Community Lounge – 1.30pm-2.30pm.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Home-based ECE care made easier

    Source: New Zealand Government

    Associate Education Minister David Seymour says the Government is cutting red tape in the ECE sector to help make it easier for providers to operate and offer more options to families looking for home-based education and care for their children.

    “I have heard from providers that some of the red tape around home-based ECE care is too onerous and makes them spend too much time on compliance,” says Mr Seymour.

    “While there is huge demand for ECEs, numbers show supply isn’t keeping up. That is why we are committed to making changes which will allow the industry to expand and continue to provide high-quality service for families and their children. 

    Current regulations require 60 percent of educators working for a home-based provider to hold a Level 4 ECE qualification. The remaining 40 percent can be anyone, whether they are working towards their qualification or not, in no particular ratio.  

    “Plans to increase the requirement to 80 percent of educators at the start of 2025 have been scrapped. It would have been burdensome for providers and make it difficult for those wanting to enter the profession by limiting opportunities. This also harms the prospects of industry growth, which providers want,” says Mr Seymour.

    “We’ve listened to providers and added flexibility to the equation. From 1 January 2025 the qualified educator requirement will be removed all together and replaced with a requirement that 100 percent of educators are either fully qualified, or in training to be fully qualified, within six months of their employment.

    “This means providers can more easily maintain the balance between qualified and in-training educators, reducing the possibility of closure. For smaller providers, the difference between compliance and non-compliance could be one qualified educator. This is the difference between a child being able to access education or not. 

    From 1 January 2025, the standard funding rate will no longer apply. All services will receive one single funding rate set at the current quality funding rate. This will become the new base rate for licensed home-based services regardless of how many qualified educators they have in their service.

    “To further increase flexibility, we are allowing home-based persons responsible (often referred to as visiting teachers or coordinators) to work in more than two licensed ECE services per month,” says Mr Seymour. 

    “These changes, which I expect to be made by the end of this year, are part of our effort to reduce red tape in the early learning sector. Alongside these changes the Ministry for Regulation is conducting a regulatory review of the ECE sector as a whole.”

    Note to editors: 

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Diwali celebrations light up Sydney

    Source: New South Wales Ministerial News

    Published: 6 November 2024

    Released by: Minister for Multiculturalism

    Whether it’s in Harris Park or Riverstone, Merrylands or the MCA, Diwali celebrations are taking over Sydney.

    Last night the NSW Government hosted the annual Diwali celebration at the Museum of Contemporary Art. The event provided multicultural leaders from across NSW a chance for to come together and celebrate the victory of light over darkness, good over evil, and knowledge over ignorance.

    Also known as Deepavali, the festival is of great significance to the Hindu, Sikh, Jain and Buddhist communities.

    The lights represent the lifting of spiritual darkness and the renewal of life. It is a time spent with family and friends, praying for health, knowledge and peace.

    In recognition of Diwali and its timeless message, the Sydney Opera House’s iconic sails were bathed in gold last night as part of the celebrations.

    Participants wear colourful clothes, decorate their homes and exchange gifts and sweets.

    NSW Minister for Multiculturalism Steve Kamper said:

    “Wherever you go in NSW you can find the positive impact in our lives made by the Indian diaspora.”

    “The ideals of knowledge over ignorance, good over evil and light over darkness are messages that everyone can embrace.”

    “By sharing in this celebration, we can all join together, foster greater understanding and keep our communities strong.”

    MIL OSI News –

  • MIL-Evening Report: US presidential election holds high stakes for Pacific relations

    PMN Pacific Mornings

    With Election Day for one of the most consequential United States presidential races in recent history underway, Pasifika communities on both sides of the Pacific Ocean are considering how a new administration could impact US-Pacific relations.

    Roy Tongilava, a public policy professional and Pacific community advocate in the United States, hopes to see improved US-Pacific relations under either a Harris or Trump administration.

    “I’m not an expert in foreign affairs, but my hope would be that either a presidency under Harris or under Trump would continue to build those relations, to build those investments, to really help not only combat climate change but also to really aid in the Pacific development, which is inherently connected to what I believe is the Pacific Islander American experience,” he said.

    Pacific commentators Roy Tongilava (left) and Christian Malietoa-Brown . . . interviewed by Pacific Media Network’s Pacific Mornings programme. Image: PMN

    New Zealand political commentator and former chair of the National Party’s Pacific Blues group, Christian Malietoa-Brown, is backing Donald Trump in the presidential race.

    He says the Pacific is caught in a “tug-of-war” between major powers like the US and China, with Australia playing an increasingly significant role.

    “For me, I think in terms of long-term investment, Trump likes to prevent war by showing strength . . .  I think they [the US] will strategically put some investments here just because they don’t want China running around too much in this area for defence reasons.

    “Under the Biden administration, we saw record investment down this way in the Pacific region, obviously to try and push away China’s influence in the region,” Malietoa-Brown says.

    Picking a big player
    “So you have China, you have America, you have Russia, you have India that’s coming up big,” Malietoa-Brown said.

    “And if I had to pick a big player to be in charge of the world, I would pretty much stick to America as it is right now, because that’s the devil we know, rather than someone else that we don’t know. And that’s probably purely a selfish thing.”

    Tongilava agrees that the Joe Biden administration has been positive for the Pacific region in terms of investment.

    “The Biden administration has pumped record investment into the Pacific to a number of things, infrastructure, education, all of that. Ultimately, though, to try and cool off and push away China’s advances towards this region.

    “We’ve seen Vice-President Harris during her time as Vicep-President really commit to climate change as well as building relations within the Pacific region,” he said.

    Education concerns
     For Tongilava, who is part of the South Pacific Islander Organization (SPIO), a nonpartisan non-profit organisation that champions education and workforce development for Pacific youth, this election has serious implications for youth.

    “Our mission is laser focused on enhancing college access, college retention, and degree completion for Native Hawai’ian and Pacific Islander students throughout our college systems,” Tongilava said.

    “A lot of our work has focused on expanding educational opportunity and workforce development for young Pacific Islander students.

    “In terms of education, I think it is crucial that Pacific Islanders turn out today in support of the policies specifically that may hinder or create opportunity for their families and for their communities,” Tongilava said.

    He said it was crucial that Pacific Islanders vote in support of the specific policies that might hinder or create opportunities for their families and their communities.

    Tongilava is concerned about Trump’s proposal to dismantle the US Department of Education, noting that such a move would disproportionately harm communities like the Pacific Islanders, who often rely on federal support for educational programmes.

    “This raises additional questions around what role does the federal government play within our school systems here within states and at the local level. For many Pacific Islander Americans, we live in under-resourced communities,” Tongilava said.

    Republished from Pacific Media Network with permission.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Security: Okmulgee Resident Pleads Guilty To Federal Firearm Charge

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    MUSKOGEE, OKLAHOMA – The United States Attorney’s Office for the Eastern District of Oklahoma announced that Wilbert Lamon Rivers, age 26, of Okmulgee, Oklahoma, entered a guilty plea to one count of Felon in Possession of a Firearm and Ammunition.

    The Indictment alleged that on November 4, 2023, Rivers knowingly possessed a semiautomatic pistol and forty rounds of ammunition after having been convicted of a crime punishable by imprisonment for a term exceeding one year.

    The charges arose from an investigation by the Muscogee (Creek) Lighthorse Police Department, the Okmulgee Police Department, and the Bureau of Alcohol, Tobacco, Firearms and Explosives.

    The Honorable Jason A. Robertson, U.S. Magistrate Judge in the United States District Court for the Eastern District of Oklahoma, accepted the plea and ordered the completion of a presentence investigation report.  Rivers will remain in the custody of the United States Marshal Service pending sentencing.

    Assistant United States Attorney Jonathan E. Soverly represented the United States.

    MIL Security OSI –

  • MIL-OSI: Cycling Enthusiasts Gear Up for the Upcoming Two-Day 2024 Areti Gran Prix Cyprus

    Source: GlobeNewswire (MIL-OSI)

    LIMASSOL, CYPRUS, Nov. 05, 2024 (GLOBE NEWSWIRE) — The vibrant local cycling community INEX CLUB is organizing the 2024 ARETI Gran Prix Cyprus on November 9-10, 2024, in the picturesque coastal city of Limassol, Cyprus. The organizers have designed the exhilarating two-day cycling event to challenge cyclists of all skill levels with two distinct stages, each offering a unique experience.

    On day one, cyclists will tackle the 70km Coastal Challenge from Limassol to Pentakomo. This route offers stunning coastal views that showcase the region’s natural beauty. On day two, a fast-paced 30km circuit race around Limassol’s new port area provides an exciting urban racing experience for both participants and spectators.

    Ilnur Zakarin, co-founder of the INEX CLUB, expressed his enthusiasm for the race. “The 2024 Areti Gran Prix Cyprus is a celebration of cycling and our region’s beautiful landscapes. We’re excited to provide a platform for cyclists to challenge themselves and inspire others to embrace this wonderful sport.”

    At the end of the race, participants and their supporters will gather at the Finish Line Village, where a lively celebration awaits. According to the INEX team, the village will be filled with refreshments, flags, and inflatables, creating a colorful and welcoming ambiance.

    The organizers encourage families and friends to come out and cheer on the cyclists as the 2024 Areti Gran Prix Cyprus will also culminate in an awards ceremony recognizing the outstanding performances of all participants.

    Sponsorship and Community Support

    The generous sponsorship of ARETI International Group, founded by Igor Makarov makes the 2024 Cyprus Gran Prix possible. A former professional cyclist and member of the UCI Management Committee, Makarov has dedicated his efforts to promoting cycling worldwide.

    Makarov’s cycling career includes initiatives and involvement with various cycling organizations, such as the Union Européenne de Cyclisme (UEC). He has also supported local charity rides like the “Tour de Broward” and “The Hublot Best Buddies Challenge: Miami.”

    The former cyclist also founded and sponsored the Katusha Team, a professional cycling team that competed successfully on the World Tour from 2009 to 2019.

    Sponsoring the 2024 Areti Gran Prix Cyprus marks Igor Makarov’s second collaboration with INEX CLUB, following the successful INEX Charity Ride held earlier this year. As a Cyprus citizen, Makarov is committed to supporting local cycling initiatives and nurturing young Cypriot talent through comprehensive support and training.

    “The 2024 Gran Prix Cyprus aims to bring together cycling enthusiasts while inspiring new young talents. We hope this race is not the last but just the start of the continuous development of the sport in the beautiful Cyprus region,” Igor Makarov mentions.

    For the complete registration details of the 2024 Areti Gran Prix Cyprus, please visit https://inex.club/granprixcyprus.

    About INEX CLUB

    Ex-professional cyclists Ilnur Zakarin and Viacheslav Kuznetsov, who have over 20 years of cycling experience, founded the INEX CLUB. They’ve won big races like the Giro d’Italia and Tour de France and completed over 15 Grand Tours. In 2023, they decided to end their professional careers and transfer their valuable experience and passion to change the cycling world in Cyprus.

    Contact Information

    Brand: ZAK INEX CLUB LTD

    Contact: Yuliia Tumenko

    Email: events@inex.club

    Website: https://inex.club

    The MIL Network –

  • MIL-OSI New Zealand: Trio arrested over alleged blessing scam

    Source: New Zealand Police (National News)

    Attribute to Detective Senior Sergeant Craig Bolton, Auckland City Financial Crime Unit:

    Three suspected scammers have been arrested trying to leave New Zealand with a large quantity of cash from their alleged victims. 

    A 50-year-old man and two women, 59 and 53, were arrested at Auckland International Airport yesterday by detectives from the Auckland City Financial Crime Unit. The trio, all Chinese nationals, were arrested just before they checked in for their flights to China.

    They arrived in New Zealand on 10 October. Police alleged that two days later, they began operating a blessing scam – a form of fraud targeting immigrant or elderly communities who are deceived into believing they or their loved ones are cursed or in spiritual danger.

    Police have jointly charged the three suspects with two counts of obtaining by deception. The charges relate to two victims – one who lost $14,500 and jewellery and another who lost $15,000.

    The accused were remanded in custody following their arrest and are due to appear in the Auckland District Court today. Police are continuing to tally the money that has been recovered, but it is a substantial amount.

    Perpetrators of blessing scams pose as healers or spiritual practitioners, offering to remove the curse or bring good fortune in exchange for money or valuable items. Victims are pressured to hand over cash or jewellery, typically instructed not to open the packages they receive, only to later discover that the contents are worthless.

    While the Financial Crime Unit has identified two victims so far, it’s highly likely more people were targeted.

    We urge anyone who may have fallen victim to this scam to contact us and encourage members of New Zealand’s Chinese community to talk with elderly relatives and make a report if they have been scammed.

    If you have any information that could help our enquiries, please contact us at https://105.police.govt.nz or call 105.

    In New Zealand, blessing scams have predominantly targeted Chinese communities, exploiting cultural beliefs in spiritual healing and curses. This type of fraud has been active in New Zealand for more than 15 years, with a notable rise in cases in Auckland in recent years.

    Police have continued to raise awareness within at-risk communities, yet these fraudulent activities persist, often carried out by well-coordinated groups.

    Police remain committed to protecting all members of the public from fraud and financial harm, and ensuring that everyone feels safe from deceptive practices.

    We encourage the community to stay vigilant against scams and to remain cautious when approached by individuals offering unsolicited services.

    If you suspect that you may have fallen victim to a scam, please contact Police via 105 immediately.

    ENDS

    Issued by the Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI USA: RGA Statement on Indiana Gubernatorial Election

    Source: US Republican Governors Association

    The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

    WASHINGTON, D.C. – Republican Governors Association Chair and Tennessee Governor Bill Lee issued the following statement congratulating Governor-elect Mike Braun on his victory in Indiana:

    “Governor-elect Mike Braun is a true conservative who built a successful business and created thousands of high-paying jobs for Hoosier families. Mike’s record of public service has delivered results for Indiana and his commitment to economic growth, protecting parental rights, and defending our constitutional freedoms will keep Indiana moving forward. The RGA is proud to congratulate Governor-elect Mike Braun and looks forward to supporting him as he puts his freedom and opportunity agenda into action.”

    ###

    MIL OSI USA News –

  • MIL-OSI USA: RGA Statement on West Virginia Gubernatorial Election

    Source: US Republican Governors Association

    The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

    WASHINGTON, D.C. – Republican Governors Association Chair and Tennessee Governor Bill Lee issued the following statement congratulating Governor-elect Patrick Morrisey on his victory in West Virginia:

    “Governor-elect Patrick Morrisey has proven himself as a relentless defender of West Virginia’s conservative values and a national leader in the fight against the Biden Administration. His unmatched record, from securing one of the largest victories against the deep state in the WV v. EPA case to bringing over $1 billion in opioid settlements to fight the drug epidemic is a testament to his commitment to fighting for West Virginians.

    “Patrick Morrisey has demonstrated time and again that he will deliver real results. His conservative leadership has made a profound impact. The RGA is proud to congratulate Governor-elect Patrick Morrisey, and we look forward to supporting his efforts to continue leading the Mountain State forward.”

    MIL OSI USA News –

  • MIL-OSI USA: RGA Statement on Vermont Gubernatorial Election

    Source: US Republican Governors Association

    The following text contains opinion that is not, or not necessarily, that of MIL-OSI –

    WASHINGTON, D.C. – Republican Governors Association Chair and Tennessee Governor Bill Lee issued the following statement congratulating Governor Phil Scott on winning re-election in Vermont:

    “Governor Phil Scott’s leadership continues to make a real difference in the lives of Vermonters. His commitment to growing the economy, making Vermont more affordable, and protecting the most vulnerable has earned him overwhelming support across the state. From investing in workforce development to addressing the opioid crisis, Governor Scott has consistently put the people of Vermont first.

    “Governor Scott’s hands-on approach and dedication to community service reflect the values that Vermonters hold dear. The RGA is proud to congratulate Governor Scott on his re-election victory and looks forward to supporting his continued efforts to keep Vermont on the path of prosperity.”

    ###

    MIL OSI USA News –

  • MIL-OSI New Zealand: Parliament Hansard Report – Oral Questions — Questions to Ministers – 001442

    Source: New Zealand Parliament – Hansard

    ORAL QUESTIONS

    QUESTIONS TO MINISTERS

    Question No. 1—Finance

    1. RYAN HAMILTON (National—Hamilton East) to the Minister of Finance: What recent reports has she seen on the economy?

    Hon NICOLA WILLIS (Minister of Finance): Today, Statistics New Zealand released its labour market statistics for the September quarter. This release includes information from the household labour force survey, which looks at people’s labour force status, and the quarterly employment survey, which captures earnings, paid hours, and jobs. The household labour force survey showed that the unemployment rate increased from 4.6 to 4.8 percent in the quarter, and the quarterly employment survey showed that average hourly earnings increased 3.9 percent over the previous year.

    Ryan Hamilton: Why is unemployment rising?

    Hon NICOLA WILLIS: Unemployment is rising and has been rising since 2001 because New Zealand has been in a prolonged recession, with monetary tightening used to drive high inflation out of the economy. Sadly, recessions have a human cost. My heart goes out to people who’ve lost their jobs and who are struggling to enter the labour market. Rising unemployment is a reminder of how letting inflation get a grip on the economy is so damaging.

    Ryan Hamilton: Was the increase in the unemployment rate as much as expected?

    Hon NICOLA WILLIS: No. The increase from 4.6 percent to 4.8 percent was lower than forecasters had been predicting. In its August Monetary Policy Statement, the Reserve Bank had forecast 5 percent unemployment and the Treasury had forecast 5.2 percent in the Budget update in May. To give some historical context, I would also point out to members that over the last 15 years, the average unemployment rate in New Zealand has been 5 percent.

    Ryan Hamilton: What is the outlook for unemployment?

    Hon NICOLA WILLIS: Today’s results reflect where we are in the economic cycle. Typically, when the economy starts underperforming, the unemployment rate is slow to rise. Then when the economy starts to pick up, it can be slow to fall. In other words, unemployment is a lagging indicator. Now, there are clear indications that the economy has turned upwards, but even so, I would expect the unemployment rate to rise a bit further before beginning to fall. In the August Monetary Policy Statement, for example, the Reserve Bank was forecasting the unemployment rate to rise to a peak of 5.4 percent early next year, then steadily decline.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Parliament Hansard Report – Karakia/Prayers – 001443

    Source: New Zealand Parliament – Hansard

    WEDNESDAY, 6 NOVEMBER 2024

    Mr Speaker took the Chair at 2 p.m.

    KARAKIA/PRAYERS

    TEANAU TUIONO (Assistant Speaker—Green): E te Atua kaha rawa, ka tuku whakamoemiti atu mātou, mō ngā karakia kua waihotia mai ki runga i a mātou. Ka waiho i ō mātou pānga whaiaro katoa ki te taha. Ka mihi mātou ki te Kīngi, me te inoi atu mō te ārahitanga i roto i ō mātou whakaaroarohanga, kia mōhio ai, kia whakaiti ai tā mātou whakahaere i ngā take o te Whare nei, mō te oranga, te maungārongo, me te aroha o Aotearoa. Amene.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Parliament Hansard Report – Wednesday, 6 November 2024 – Volume 779 – 001444

    Source: New Zealand Parliament – Hansard

    ORAL QUESTIONS

    QUESTIONS TO MINISTERS

    Question No. 1—Finance

    1. RYAN HAMILTON (National—Hamilton East) to the Minister of Finance: What recent reports has she seen on the economy?

    Hon NICOLA WILLIS (Minister of Finance): Today, Statistics New Zealand released its labour market statistics for the September quarter. This release includes information from the household labour force survey, which looks at people’s labour force status, and the quarterly employment survey, which captures earnings, paid hours, and jobs. The household labour force survey showed that the unemployment rate increased from 4.6 to 4.8 percent in the quarter, and the quarterly employment survey showed that average hourly earnings increased 3.9 percent over the previous year.

    Ryan Hamilton: Why is unemployment rising?

    Hon NICOLA WILLIS: Unemployment is rising and has been rising since 2001 because New Zealand has been in a prolonged recession, with monetary tightening used to drive high inflation out of the economy. Sadly, recessions have a human cost. My heart goes out to people who’ve lost their jobs and who are struggling to enter the labour market. Rising unemployment is a reminder of how letting inflation get a grip on the economy is so damaging.

    Ryan Hamilton: Was the increase in the unemployment rate as much as expected?

    Hon NICOLA WILLIS: No. The increase from 4.6 percent to 4.8 percent was lower than forecasters had been predicting. In its August Monetary Policy Statement, the Reserve Bank had forecast 5 percent unemployment and the Treasury had forecast 5.2 percent in the Budget update in May. To give some historical context, I would also point out to members that over the last 15 years, the average unemployment rate in New Zealand has been 5 percent.

    Ryan Hamilton: What is the outlook for unemployment?

    Hon NICOLA WILLIS: Today’s results reflect where we are in the economic cycle. Typically, when the economy starts underperforming, the unemployment rate is slow to rise. Then when the economy starts to pick up, it can be slow to fall. In other words, unemployment is a lagging indicator. Now, there are clear indications that the economy has turned upwards, but even so, I would expect the unemployment rate to rise a bit further before beginning to fall. In the August Monetary Policy Statement, for example, the Reserve Bank was forecasting the unemployment rate to rise to a peak of 5.4 percent early next year, then steadily decline.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Charges – Serious Harm – Moulden

    Source: Northern Territory Police and Fire Services

    Northern Territory Police have charged a 19-year-old man following an alleged assault on a 53-year-old male victim in Darwin on 31 October 2024.

    The incident reportedly involved multiple attacks on the victim at his residence in Moulden, resulting in serious injuries. Following the assault, it is alleged the offender posted an image on his social media account, displaying the weapon used in the attack and capturing the crime scene. Police allege the offender’s actions were intended to boast or glorify the offending.

    Police identified and apprehended the offender, who has since been charged with acts intended to cause serious harm and publishing material related to offending conduct. He has been remanded to appear in Darwin Local Court on Friday 8 November 2024.

    Detective Superintendent Mark Grieve said, “This type of behaviour has no place in our community. Northern Territory Police take these matters seriously, and we urge the public to report any concerning behaviour, especially when it glorifies criminal conduct.”

    The investigation remains ongoing, and police are encouraging anyone with further information to contact Crime Stoppers on 1800 333 000.

    MIL OSI News –

  • MIL-OSI Australia: Australians are traumatised by Middle East horrors. They deserve the facts

    Source: Australian Government – Minister of Foreign Affairs

    Many Australians are understandably traumatised by the past year in the Middle East. Every day, we see more unbearable scenes. The terrorist attack by Hamas on October 7, 2023: the worst loss of Jewish life in a single day since the Holocaust, and almost 100 hostages still held. And in Israel’s response: 42,000 Palestinians killed – including more than 13,000 children. About 2 million facing starvation.

    While this conflict might be far away, it is close to many in Australia. Some have lost family – or have loved ones in danger. Communities connect with different sides in this conflict.

    The Middle East’s contested history helps explain these divergent perspectives. Those who know the imperative of Israel for the Jewish people’s survival. Who feel October 7 as part of the long shadow of antisemitism; the abomination of the Holocaust and millennia of Jewish persecution. And those who know the dispossession of the Palestinian people; the failure of the international community to honour the 1947 promise made for a Palestinian state when Israel was established. Who feel that the loss of Muslim and Arab lives has been too easily dismissed.

    These two experiences seem less reconciled than ever – and they are intensified in a debate often framed by incorrect information.

    For example, people continue to demand Australia call for a ceasefire in Gaza. Yet, it’s nearly 11 months since Australia voted for a ceasefire with 152 other countries at the United Nations General Assembly. While some don’t hear our condemnation of Israel Defence Forces’ attacks on civilians or aid workers, others wrongly claim we enable Hamas by insisting Israel follow the rules of war.

    As the conflict spread to Lebanon, Opposition Leader Peter Dutton said Australia was isolated by calling for a ceasefire there – when we did so with dozens of other countries. And despite that call, I am asked when Australia will stop bombing Lebanon. We never started.

    These examples show what happens when certain politicians and media make false claims in bad faith – and when people shout over each other rather than listen to each other. I understand people want their government to make this war end. But this isn’t Vietnam or Iraq – Australia is not contributing to the war. Nor are we supplying weapons for it.

    There is a big difference between Australia wanting to end this war and being able to do it on our own. Our only hope is in being active in the international community. As long as this war goes on, we will keep partnering to deliver aid, uphold international law and drive towards peace.

    As well as our co-ordinated calls for ceasefire and the release of hostages, we act in concert with other donors to provide lifesaving aid. Australia has committed more than $90 million in humanitarian assistance to support civilians impacted by conflicts in Gaza and Lebanon. We have also doubled our annual funding to the United Nations Relief and Works Agency (UNRWA).

    I’m leading an influential group of countries to create a global Declaration on the Protection of Humanitarian Personnel. We are building a coalition for the safety of aid workers who provide the food, water and medicine that civilians need to survive.

    Australia works with Canada, New Zealand and other supporters of international law, including by backing the independence of the International Court of Justice and the International Criminal Court. International law includes the UN Charter that allows countries to defend themselves – and the Geneva Conventions that protect civilians during wars. Palestinian civilians cannot pay the price of defeating Hamas.

    Australia has joined a large number of countries in condemning and sanctioning Hamas, Hizballah and others for their terrorism. Just as we have partnered in sanctioning Israeli extremist settlers for their violence against Palestinians in the West Bank.

    We work with others because going it alone gets us nowhere in the Middle East. But you wouldn’t think that listening to somepoliticians. Peter Dutton demands I do what no other country has done: say the rules don’t apply to Israel. And the Greens demand I apply sanctions to Israel that no other country has applied. When Australia applies sanctions, we co-ordinate with partners. That’s what makes them effective.

    These two ends of the political spectrum repeat absolutist positions we see overseas in order to recklessly reproduce the conflict in our diverse society and exploit distressed Australians. All-or-nothing demands do nothing to end the Middle East cycle of violence.

    That can only happen when the promise of two states is fulfilled. Frustratingly, this seems a distant prospect. It is bitterly opposed by Hamas, which seeks to end the Jewish state. It is also not supported by many in the Netanyahu government. But Israel’s own long-term security requires it, and Palestinians have a right to self-determination.

    Australia was one of 143 countries to vote in support of Palestinian aspirations for full membership of the UN – where we have also called for a timeline for the international declaration of Palestinian statehood.

    On our own, we have little leverage to move the dial in the Middle East. That’s why our approach centres on building international support with other countries that want to end this war.

    Originally published in The Sydney Morning Herald and The Age on Wednesday, 6 November 2024. 

    MIL OSI News –

  • MIL-OSI Security: FBI Statement on Bomb Threats to Polling Locations

    Source: Federal Bureau of Investigation FBI Crime News (b)

    The FBI is aware of bomb threats to polling locations in several states, many of which appear to originate from Russian email domains. None of the threats have been determined to be credible thus far.

    Election integrity is among the FBI’s highest priorities. We will continue to work closely with our state and local law enforcement partners to respond to any threats to our elections and to protect our communities as Americans exercise their right to vote.

    As always, we urge the public to remain vigilant and report suspicious activity to state or local law enforcement, or submit tips to the FBI at 1-800-CALL-FBI (1-800-225-5324) or online at tips.fbi.gov.

    MIL Security OSI –

  • MIL-OSI Security: 35th ADA Brigade supports Keen Sword 25 exercise in Japan

    Source: United States INDO PACIFIC COMMAND

    SOUTH KOREA  –  

    Soldiers from Eighth Army’s 35th Air Defense Artillery Brigade participated in Keen Sword 25, which concluded Nov. 1.

    Keen Sword is a joint bilateral exercise designed to increase readiness and interoperability between the U.S. and Japan.

    Seventeen service members from E Battery, 6-52 Air Defense Artillery Battalion participated in a joint field training exercise with the 17th Field Artillery Brigade (Joint Base Lewis-McChord, Washington) in Japan. Two Avengers and one Sentinel Radar were part of a support package that provided base defense assets during the exercise.

    Additional training was accomplished when the units were able to network with the 38th Air Defense Artillery Brigade based in Japan via a tactical datalink network. Mobility training was also accomplished as Echo Battery utilized port operations to ship and receive their equipment. The team deployed to one of Japan’s islands for the 10-day exercise.

    Keen Sword 25 participants included military units from the U.S. and Japan, Australia and Canada, which all took part in integrated training across the island nation. They honed their skills to maintain warfighting readiness. Bilateral and multilateral events undertaken as part of Keen Sword 25 included joint live fire training, medical mass casualty exercises, installation security forces training and simulated airfield damage repair, among others.

    The 35th ADA Brigade is one of Eighth Army’s six major subordinate commands based at Osan Air Base, South Korea.

    MIL Security OSI –

  • MIL-OSI: AvePoint Launches AI Lab in Singapore to Drive Industry-Focused Innovation

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Nov. 06, 2024 (GLOBE NEWSWIRE) — AvePoint (Nasdaq: AVPT), the global leader in data management and data governance, today announced the launch of its AI Lab, supported by the Singapore Economic Development Board (EDB), to advance AI-driven research and innovation in the cutting-edge domains of artificial intelligence (AI) and machine learning. The AI Lab is set to address global industry challenges by fostering new research and embedding AI across the AvePoint Confidence Platform.

    The AI Lab will serve as a central hub for high-impact research in AI, focusing on spurring industry-relevant R&D while having a global reach. Researchers, drawn from both local and international talent pools, will have the opportunity to work with AvePoint’s global teams on use cases from different countries, ensuring an international exchange of knowledge and insights.

    The lab will hire over 25 AI researchers and program specialists in the next three years to support these initiatives, driving AI innovation not only in Singapore but also across the globe. It will enable local PhD-qualified researchers to work with top foreign researchers via a global rotational program to AvePoint’s HQ. Additionally, the lab will provide collaboration with a network of universities, and with AvePoint’s global product teams.

    “We are excited to launch the AvePoint AI Lab, which will be instrumental in advancing AI-driven research and addressing industry needs,” said Wei Chen, Head of R&D, AvePoint. “With this lab, we aim to develop impactful solutions that benefit industries globally while enhancing our SaaS products.”

    Global Focus on AI Innovation

    With its international exchange element, the AvePoint AI Lab will develop AI-driven solutions for key sectors including:

    • Education: AI technologies will be harnessed to transform learning and assessments, offering personalized, AI-driven academic advisors tailored to students’ levels of study.
    • FinTech: AI will streamline banking processes through advanced data aggregation and fraud detection, as well as automating Know Your Customer (KYC) services for improved financial product recommendations.

    The AI Lab will also develop solutions that cut across various sectors, such as enhancing collaboration and knowledge management through AI, and creating innovative recommendation systems for career development and lifelong learning, applicable to a global audience.

    Philbert Gomez, Executive Director & Head, Digital Industry Singapore (DISG) said, “EDB is committed to fostering AI innovation that addresses real-world industry challenges. We are pleased to support AvePoint’s AI Lab in Singapore, which will not only advance cutting-edge AI research but also translate these innovations into practical solutions for global markets. This initiative aligns with our goal of positioning Singapore as a hub for AI talent and innovation, creating high-value job opportunities and driving the development of AI applications that can enhance productivity and competitiveness across various sectors worldwide.”

    Commercialization and Global Business Impact

    The AI Lab’s primary goal is to commercialize its research into AvePoint’s SaaS products, creating new business opportunities while enhancing existing product offerings to address evolving global market needs.

    “As we explore new areas of AI applications, our focus remains on translating these breakthroughs into practical applications for our customers worldwide,” added Wei Chen. “This lab enables us to collaborate on a global scale, ensuring that the innovations we develop here in Singapore can impact industries around the world.”

    About AvePoint

    Securing the Future. AvePoint is the global leader in data management and data governance, and over 21,000 customers worldwide rely on our solutions to secure the digital workplace across Microsoft, Google, Salesforce and other cloud environments. AvePoint’s global partner program includes over 3,500 managed service providers, value-added resellers, and systems integrators, with our solutions available in more than 100 cloud marketplaces.

    Disclosure Information

    AvePoint uses the https://ir.avepoint.com/ website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

    Forward-Looking Statements

    This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and other federal securities laws including statements regarding the future performance of and market opportunities for AvePoint. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: changes in the competitive and regulated industries in which AvePoint operates, variations in operating performance across competitors, changes in laws and regulations affecting AvePoint’s business and changes in AvePoint’s ability to implement business plans, forecasts, and ability to identify and realize additional opportunities, and the risk of downturns in the market and the technology industry. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of AvePoint’s most recent Annual Report on Form 10-K and its registration statement on Form S-3 and related prospectus and prospectus supplements filed with the SEC. Copies of these and other documents filed by AvePoint from time to time are available on the SEC’s website, www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and AvePoint does not assume any obligation and does not intend to update or revise these forward-looking statements after the date of this release, whether as a result of new information, future events, or otherwise, except as required by law. AvePoint does not give any assurance that it will achieve its expectations.

    Investor Contact
    AvePoint
    Jamie Arestia
    ir@avepoint.com
    (551) 220-5654

    Media Contact
    AvePoint
    Nicole Caci
    pr@avepoint.com
    (201) 201-8143

    The MIL Network –

  • MIL-Evening Report: 5 Indian films from the 2024 Adelaide Film Festival that blew me away

    Source: The Conversation (Au and NZ) – By Yanyan Hong, PhD Candidate in Communication and Media Studies, University of Adelaide

    In The Belly of a Tiger/IMDB

    This year’s Adelaide Film Festival (AFF2024) had something truly exciting laying in wait: a spotlight on Indian cinema.

    While many people are familiar with Bollywood, most don’t know about the vast film industry that exists beyond it. And this is no small market; India is currently the most populated country in the world.

    This year’s festival delivered a variety of Indian films from regions and directors that remain underrepresented. From award-winning tales, to a poetic nature documentary, to a sweet coming-of-age story from the North East, the program promises to challenge and expand our understanding of what Indian cinema can offer.

    Of all the films I saw, these five spoke to me the most.

    All We Imagine As Light

    Payal Kapadia’s Cannes Grand Prix winner, All We Imagine as Light, was the film that I’d most looked forward to – and it turned out to be as dreamlike as its title promised.

    It’s an ode to the city of Mumbai, also known as India’s “dream-making factory” (and where Bollywood is based). Mumbai is where Indians from all states and of all languages come to fulfil their dreams.

    The story follows three female nurses, Prabha (Kani Kusruti), Anu (Divya Prabha) and Parvaty (Chhaya Kadam), who come to Mumbai looking for a better life. Yet they find themselves struggling to belong in a city that refuses to embrace them.

    As Kapadia explains: “The film is about not being able to see a way out when one is surrounded by darkness […] that hope doesn’t exist if you have never seen it.”

    Kapadia’s storytelling brings a kind of realism rarely seen in popular Indian cinema – not through larger-than-life spectacle or the resplendent city skyline, but through the quiet intimacy of shared apartments, poetry booklets, dinner dates, and small joys and defeats. It is simply soulful.

    The film blends themes of female solidarity and friendship with heavier topics such as religious differences, migrant struggles, language barriers and class divides – yet it feels as gentle as rain on skin.

    While some have critiqued the film for being too slow (and I admittedly felt this at times), this is exactly how Kapadia managed to turn a city with more than 21 million people into a place that feels completely lonely.

    Second Chance

    Unlike the vibrant image of India we’re so used to – full of colour, song and lively dances – Subhadra Mahajan’s black-and-white film Second Chance is nothing short of breathtaking.

    Set in the snowy peaks of Himachal Pradesh, the film follows 25-year-old Nia (Dheera Johnson) as she retreats to her family’s Himalayan holiday home after a painful breakup and the emotional toll of taking abortion pills. Mahajan captures the stark, quiet beauty of the Himalayan landscape, where time slows down and silence seems to heal.

    The film is shot among the snow-covered Himalayan mountains.
    Adelaide Film Festival

    There, she finds unexpected companions through Bhemi and Sunny. Bhemi, the gentle 70-year-old mother-in-law of the home’s caretaker, is played with a captivating authenticity by Thakra Devi, a local resident and non-professional actress. Sunny (Kanav Thakur) is Bhemi’s playful and curious 8-year-old grandson.

    At the top of the world, Second Chance crafts a beautiful and intimate space where we are invited to see that there’s always another chance to find oneself – a chance as infinite and expansive as the snow-capped peaks themselves.

    Nocturnes

    It’s rare to see films such as Second Chance, which are made in the Himalayas. But it’s even rarer to see an Indian nature documentary such as Nocturnes. The film follows a scientist named Mansi and her indigenous assistants as they chase down thousands of Himalayan moths (particularly Hawk moths).

    Directed by Anirban Dutta and Anupama Srinivasan, Nocturnes captures the hypnotic rhythms of field study (something that particularly resonates with me as a researcher).

    Fluttering wings and insect trills create a serene soundscape. The close-ups of the moths – their textures, patterns and slight vibrating movements – are fascinating to observe – as the the wider shots of the scientists’ glowing setup in the darkened forest, which drew me in like a moth to light.

    Nocturnes is a thoughtful, meditative film that reminds us of how our destruction of the climate can impact these ancient residents of Earth. As the voiceover reminds is, “we most likely cannot survive what the moths have been through.”

    Boong

    Right from the opening scene, Boong pulled me in with unexpected laughs. The titular character Boong (Gugun Kipgen) is a schoolboy who, along with his best friend Raju (Angom Sanamatum), embarks on a risky journey along India’s militarised eastern border to bring Boong’s absent father back home.

    In one scene, the playful prankster, Boong, aims his slingshot at his school’s entryway sign.
    IMDB

    As they make their way, we’re treated to views from Manipur, India’s North East state near Myanmar, which we rarely see in mainstream Indian cinema. Boong itself tips its hat to Bollywood a few times, such as when Raju shows his excitement upon hearing the song Lungi Dance from the Bollywood blockbuster Chennai Express (2013), or when the the chief villager’s secret home cinema is adorned with Hindi film posters.

    Director Lakshmipriya Devi does a fantastic job showcasing the region’s vibrant yet complex culture. All the while, she highlights some surprising lesser-known facts, such as how Hindi films were banned in Manipur for years in the name of protecting local culture, language and the regional film industry.

    While Manipur’s cinematic potential is still largely untapped, Boong is a brilliant step.

    In the Belly of a Tiger

    Of the 23 films I saw at AFF2024, In the Belly of a Tiger was a precious gem that stayed with me.

    This multinational production (which just won the festival’s Feature Fiction Award) tells a heart-wrenching story of an elderly and desperately poor couple faced with an impossible choice: which one of them will go into the forest to be eaten by a tiger so the other can receive government compensation?

    It’s a deeply spiritual and painfully pragmatic exploration of power, sacrifice, love and hope.

    The symbolism of the film’s poster hints at its larger themes. Just as Hindu mythology posits the universe emerged from Lord Vishnu’s navel, unfolding like the petals of a lotus, we see how fate, too, blossoms unevenly.

    The film’s poster signposts some of its larger themes.
    IMDB

    In the film, a poor family in a remote village longs for a better life in the next world, holding tightly to memories of young, innocent love.

    Shooting in Hindi, and featuring mostly non-professional actors, In the Belly of a Tiger is both authentic and ambitious. Indian director and cinematographer Jatla Siddhartha collaborated with some of the biggest names in cinema to bring the story to life, including multiple Oscar-winning sound designer Resul Pookutty (who also worked on Slumdog Millionaire).

    The music is composed by Japan’s Umebayashi Shigeru, known for his work on Wong Kar-wai’s In the Mood for Love (2000) and The Grandmaster (2013). Shigeru’s melodies bring an emotional and magical tone to what is, at its heart, a truly Indian story.

    More dreams to share

    The films I’ve highlighted here represent some of the most exciting and thought-provoking works coming out of India today.

    While the Mumbai-based Bollywood industry is undeniably a huge part of Indian culture, it’s only one piece of the puzzle. These films paint a far richer and more diverse portrait of India, its people, its struggles and its beauty.

    They also showcase a glorious future for Indian cinema – one which promises to carry the dreams of a nation eager to share its stories with the world.

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

    – ref. 5 Indian films from the 2024 Adelaide Film Festival that blew me away – https://theconversation.com/5-indian-films-from-the-2024-adelaide-film-festival-that-blew-me-away-242118

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Taikonauts to conduct in-orbit experiments on fruit flies

    Source: China State Council Information Office 2

    The newly launched Shenzhou-19 taikonauts have embarked on their six-month journey aboard China’s space station. Their packed schedule includes 86 sci-tech experiments, with a particularly intriguing one – the fruit fly research, aimed at studying the growth and behaviors of these insects at a distance of 400 km above Earth.
    The fruit fly is one of the model species frequently used in genetic experiments. It is small, measuring only 3 to 4 mm in length, and has a short life cycle with fast reproduction capabilities, enabling it to produce a large number of offspring within a short period, according to Zhang Wei, a researcher involved in the selection of in-orbit scientific experiments, at the Technology and Engineering Center for Space Utilization under the Chinese Academy of Sciences.
    “The genes of fruit flies share many similarities with those of humans, so the study can help with understanding human genetic diseases and provide insights into how humans adapt to space environments,” Zhang said in a recent interview.
    He also noted that future space research plans will involve conducting experiments on mice, which are more complex life forms compared to fruit flies.
    “We have planned to send mice to space for breeding on an animal platform. And some lab mice in space may be brought back to Earth for further study, which will focus on their nerves, bones, muscles and immunity,” the researcher added.
    This is the first time that China has taken the small insects into space, and the aim of the study seems to be exploring the deeper universe.
    According to scientists, Earth provides a magnetic field as a basic guarantee for our daily lives, but Mars does not possess similar strong magnetic protection and the moon has none at all. Understanding how the human body responds to such an environment remains a major challenge in space exploration.
    “So we have to conduct relevant research in advance, creating a sub-magnetic environment and observing how the fruit flies develop, grow and behave,” Zhang said.
    China launched the Shenzhou-19 (Magical Ship) crewed spaceship on Oct. 30, sending three taikonauts, two male and one female, to its orbiting space station Tiangong (Heavenly Palace) for a half-year stay. The trio in mid-November will witness the arrival of Tianzhou-8 (Sky Ship) cargo craft, which will send up supplies and experiment payloads, including the sub-magnetic facility with fruit flies, according to the researcher.
    The previous Shenzhou-18 crew during their six-month mission also performed numerous experiments inside the national space lab, and one task was creating an “aquarium” and raising four zebra fish and four grams of goldfish algae in zero gravity, a breakthrough in the field of raising vertebrates in space.
    Not only the taikonauts found joy in the space “aquarium,” but it also paved the way for their future counterparts to enjoy nutritious fish from their own in-orbit harvests.
    According to scientists, the water, fish eggs and other experimental samples obtained through the space “aquarium” have been brought back to Earth with the crew on Monday. These samples will provide valuable data for scientists to study vertebrate lives.
    Besides life science experiments, the orbiting taikonauts will carry out research on materials, including rare earth soft magnetic materials, blade materials for gas turbines and special functional crystals. These findings will provide insights for developing advanced instruments on Earth.

    MIL OSI China News –

  • MIL-OSI China: Notable strides made in higher education

    Source: China State Council Information Office 2

    A student and family members pose for a photo at a national college entrance examination site in Shijiazhuang, north China’s Hebei Province, June 9, 2024. [Photo/Xinhua]
    In recent years, China has made remarkable strides in the development of its higher education system, particularly through the initiative of building world-class universities and disciplines with Chinese characteristics, Education Minister Huai Jinpeng said.
    The “Double First Class” initiative, which was launched to develop a set of world-class institutions and disciplines in China, has undergone two rounds of changes, Huai said when delivering a report which was submitted to an ongoing session of the Standing Committee of the National People’s Congress, China’s top legislature, for review on Tuesday.
    The first round identified 140 universities and 465 disciplines to be part of the initiative and the second round has added seven universities and 41 disciplines, with an emphasis on foundational and cutting-edge fields that are critical to the country’s development, according to the report.
    China has implemented programs for basic disciplines, establishing 288 elite student training bases, 14 national centers for talent development in mathematics and physics and 16 interdisciplinary research centers, aiming to contribute to significant advances in disciplines such as quantum science, materials engineering and space exploration, it said.
    Universities are evaluated based on their overall development and growth potential. Some top-tier institutions like Peking University and Tsinghua University are allowed to autonomously determine their own disciplines, creating a model for personalized growth, Huai said.
    Since 2016, China has invested over 166.7 billion yuan ($23.4 billion) in “Double First Class” universities to support the development of these institutions and their high-level research programs, the report said.
    Universities involved in the initiative have trained more than half of China’s master’s degree students and 80 percent of its doctoral students.
    Focusing on national strategic needs, 84 new undergraduate majors have been added, including interdisciplinary engineering, intelligent sensing engineering and carbon storage science, it added.
    However, the traditional academic structure in Chinese universities, which was based on departments and disciplines, limits the flexibility required to foster innovative, interdisciplinary talent, Huai said.
    “The model for talent development needs to evolve, with greater emphasis on integrating STEM or science, technology, engineering and mathematics, with the humanities, and on strengthening collaboration between education and industry,” he said.
    Moreover, China still faces challenges in producing leading-edge and disruptive innovations, particularly in fundamental research. The potential for universities to contribute more effectively to economic and social development has not been fully realized, and the commercialization of scientific discoveries remains insufficient, the report said.
    “There is still a gap when compared to top universities in developed countries,” Huai said. The ability to attract and retain global talent is a key challenge, as is China’s participation in global educational governance, especially in cutting-edge fields like artificial intelligence, he said.
    There is an urgent need to refine the criteria for evaluating disciplines, particularly for interdisciplinary studies and social sciences. The lack of a clear, characteristic development model for “Double First Class” universities further complicates the process of building distinct, world-class institutions, according to the report.
    In response to these challenges, a more tailored evaluation system should be developed, focusing on contributions to society, especially in areas such as ideological leadership, national security and social stability, Huai said.
    To cultivate top talent, China should strengthen early identification of potential innovators and foster a more integrated talent development model that combines research with education, according to the report.
    Special emphasis should be placed on developing engineers, professionals in emerging fields, and interdisciplinary researchers. Improving core curriculum and integrating research breakthroughs into teaching will help nurture a new generation of world-class talent, it added.
    The ability to attract top international talent will be crucial to building globally competitive institutions, according to the report.

    MIL OSI China News –

  • MIL-OSI China: China leads in combating desertification

    Source: China State Council Information Office 2

    Workers plant Caragana seedlings at Baijitan national nature reserve of Lingwu, northwest China’s Ningxia Hui Autonomous Region, March 19, 2024. [Photo/Xinhua]
    With more than half of its reclaimable desertified land treated, China has taken the lead globally in achieving zero growth in land degradation and become the largest contributor to global afforestation, according to the National Forestry and Grassland Administration.
    Since 2012, China has seen its desertified land decrease by 4.3 million hectares, said Guan Zhiou, head of the administration, reporting to an ongoing session of the Standing Committee of the National People’s Congress, the country’s top legislature, on Tuesday.
    “This demonstrates a positive trend of overall improvement and accelerated enhancement,” he said.
    He credited the achievement to a series of concerted efforts by the country to promote initiatives aimed at controlling desertification, underpinned by the establishment of a robust and effective legal framework.
    Currently, the legal framework has included six national laws, including laws for sand prevention and control, as well as forest and wetland conservation, he noted, adding the 13 key provincial regions for desertification control have all enacted regional regulations on the issue.
    He highlighted the significant roles of a series of projects in tackling desertification, including the Three-North Shelterbelt Forest Program, which was launched in 1978.
    Thanks to these projects, 35.9 million hectares of desertified land have been brought under protection and 7.9 million hectares of such land have been effectively treated, he shared.
    Guan elaborated that within the expansive scope of the Three-North program spanning from northwestern to northeastern China, the forest coverage rate has risen significantly from approximately 12.4 percent to 13.8 percent. Moreover, effective measures have successfully controlled soil erosion on 61 percent of the affected land.
    He continued by noting that within the Yellow River Basin, the boundary delineating regions with and without vegetation cover has shifted approximately 300 kilometers westward. Due to these efforts, northern China has embraced a remarkable decrease in the number of days with severe sand and dust weather, he added.
    He also noted, however, China is still confronted with an arduous task to forge ahead with desertification control, considering the size of its desertified land and the severity.
    “Currently, there are 47.2 million hectares of desertified land that can be reclaimed across the country,” he said. “Of them, 22.2 million hectares remain untreated, mainly concentrated in the Three-North region and are all hard nuts to crack,” he said.
    The official vows a series of measures to advance the work, including incentivizing the public and enterprises to participate in desertification control.
    China will tap into different modes to encourage farmers and herdsmen to participate in desertification control, he continued.

    MIL OSI China News –

  • MIL-OSI China: Hong Kong sees brisk ETF trading in first 9 months

    Source: China State Council Information Office

    Hong Kong’s average daily turnover of ETFs reached 13 billion Hong Kong dollars (about 1.67 billion U.S. dollars) in the first three quarters of 2024, up 10 percent from the 2023 full-year average, local data showed on Tuesday.

    The increase widens to 32 percent when compared to the average in full year 2022, said Joseph Chan, acting secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region (HKSAR) government, at the ETF Summit 2024 hosted by the Hong Kong Exchanges and Clearing Limited (HKEX).

    Since launching the first ETF (Exchange-Traded Fund) in 1999, HKEX has become one of the largest and most active ETF exchanges in Asia, said Chan.

    The listing of Asia’s first ETF tracking the Saudi Arabian market in Hong Kong in November 2023 as well as the listing of two ETFs tracking Hong Kong stocks in Saudi Arabia last month will help diversify Hong Kong’s capital sources while boosting market liquidity, he said.

    About 200 ETF products are now listed in Hong Kong with a total market capitalization of 60 billion U.S. dollars, according to Wilfred Yiu, deputy chief executive officer of the HKEX Group.

    MIL OSI China News –