Category: KB

  • MIL-OSI China: Singaporean firms eye broader cooperation with China

    Source: China State Council Information Office 3

    Workers get the venue ready for the upcoming 7th China International Import Expo (CIIE) at National Exhibition and Convention Center (Shanghai), east China’s Shanghai, Oct. 22, 2024. [Photo/Xinhua]

    A delegation of nearly 400 representatives from 44 Singaporean businesses will attend China’s upcoming landmark import expo in a bid to seek stronger and high-quality partnerships in both traditional and new sectors.

    Among the participating exhibitors for the 7th China International Import Expo (CIIE), 70 percent are repeat exhibitors, according to the Singapore Business Federation (SBF), the delegation’s organizer. This will be the seventh year for the SBF’s delegation to participate in the CIIE.

    The 7th CIIE is scheduled to be held in Shanghai from Nov. 5 to 10, with participants from 152 countries, regions and international organizations.

    CIIE remains a critical platform for Singapore’s businesses in the Chinese market, said SBF CEO Kok Ping Soon.

    With a total exhibition area of close to 912 square meters, the Singapore Pavilion, which spans across the Consumer Goods Hall, Food & Agricultural Products Hall and Trade in Services Hall, will see Singapore companies showcase a wider range of innovative, high-quality, and reliable products and services.

    The Singapore-China Trade and Investment Forum will also be held on the sidelines of the 7th CIIE in Shanghai, according to the SBF.

    China has been Singapore’s largest trading partner for 11 consecutive years. Singapore is the second-largest source of foreign investment for China and the top destination for Chinese overseas investment.

    According to the SBF National Business Survey 2023/2024, China is one of the top three countries that Singapore businesses have a presence in and is among the top three countries in Asia that Singapore businesses are looking to expand into.

    “We are committed to supporting Singapore companies in furthering their businesses in China, while boosting innovation and ensuring sustained growth through stronger bilateral partnerships,” Kok said.

    MIL OSI China News

  • MIL-OSI China: ECB rate-setters consider 50-bp rate cut for December

    Source: China State Council Information Office

    Some rate-setters of the European Central Bank (ECB) have floated the idea of a possible 50-basis point rate cut, signaling a shift in focus from inflation concern to growth challenges in the eurozone.

    The prospect of such a cut could be considered during the ECB’s December meeting, when the central bank will decide its next move, according to Portugal’s central bank governor, Mario Centeno. Speaking to CNBC on Wednesday, Centeno cited recent data that could support a more aggressive rate cut.

    Inflation in the euro area unexpectedly fell in September, leading the ECB to lower key interest rates by 25 basis points last Thursday. This marked the third rate cut this year and the first back-to-back rate reduction in 13 years.

    Although ECB President Christine Lagarde insisted that the rate cut was based on the view that the “disinflationary process is well on track,” speculation is growing in the market regarding a potential 50-basic point cut in December.

    Klaas Knot, president of the Dutch Central Bank, expressed confidence that inflation will return to target levels sometime next year, noting that a 50-basis point rate cut should not be ruled out for December.

    In contrast, Austrian central bank chief Robert Holzmann believes that, based on current data, a 50-basis point rate cut is unlikely in December.

    Inflation in the euro area dropped sharply to 1.7 percent in September, down from 2.2 percent in August. This marks the first time inflation has dipped below the 2-percent target since mid-2021.

    Following the governing council meeting last Thursday, Lagarde acknowledged that the inflation figure was a surprise. “I’m not sure we had anticipated that 1.7 percent, nor did anyone else for that matter.”

    An ECB survey of professional forecasters published last Friday adjusted the inflation expectation for 2025, lowering it to 1.9 percent from two percent.

    Lagarde stressed that the fight against inflation is not over and it is still premature for the central bank to claim victory.

    The euro area economy stagnated throughout 2023 and recovery has been slow in 2024. While Lagarde dismissed concerns about a recession, she acknowledged that economic activity has been weaker than expected.

    There are rising concerns that the current restrictive monetary policy may hinder the fragile economic recovery.

    Knot told CNBC that the ECB should be as concerned about undershooting targets as it is about overshooting them. He noted that the ECB can continue to cut rates until it reaches a neutral stance, defined as neither expansionary nor contractionary, particularly if the December projections align with further deterioration in economic data.

    There have been calls for the ECB to lower its key interest rate to the neutral rate, also known as the natural rate, which is neither expansionary nor contractionary. The natural rate is not constant over time and was near zero during the 2010s (equivalent to a nominal rate of two percent), according to an ECB study published in September.

    Given that the current policy rate remains significantly higher than the neutral rate, analysts suggest that the ECB will need to implement further cuts in the future to quickly reach neutral territory.

    MIL OSI China News

  • MIL-OSI China: Cambodia, China-ASEAN Information Harbor sign MoU to boost digital infrastructure, economy

    Source: China State Council Information Office

    Cambodia and the China-ASEAN Information Harbor Co., Ltd. (CAIH) have signed a memorandum of understanding (MoU) to boost technological innovation, digital infrastructure, and digital economy, said a news release on Thursday.

    The deal was inked in Phnom Penh on Wednesday between Cambodia’s Ministry of Industry, Science, Technology & Innovation (MISTI) and the CAIH under the presence of MISTI’s Undersecretary of State Hul Seingheng.

    The MoU marks a significant step for Cambodia towards enhancing technological innovation and connectivity in the Association of Southeast Asian Nations (ASEAN), the news release said.

    “This agreement aims to leverage advanced digital infrastructure and cutting-edge technologies to promote economic development and improve quality of life across the region,” the news release said.

    Seingheng said the partnership builds on years of collaboration, which gained momentum after a MISTI delegation visited the CAIH in June 2024 and that the visit laid the groundwork for this formalized agreement.

    “This agreement is another milestone in our efforts to enhance digital cooperation and strengthen Cambodia’s science, technology, and innovation ecosystem,” he said.

    “It aims to increase digital connectivity and the exchange of expertise that will benefit both Cambodia and the ASEAN region,” he added.

    Leveraging CAIH’s skills in the digital economy, intelligent interconnection, and data interoperability, the MoU highlights key areas of collaboration, including advanced digital infrastructure, digital economy, and knowledge sharing.

    “Both parties will focus on sectors such as healthcare and tourism, utilizing digital technologies to spur economic growth and elevate living standards,” the news release said.

    Kong Mengke, deputy general manager of CAIH International, expressed enthusiasm for the MoU’s potential.

    “To implement these areas of cooperation, we propose to prioritize the development of a digital government. The next step will be to create a smart governance platform,” he said.

    “We strive to be a ‘super-connector’ of industries, resources, and customers, positioning ourselves as enablers of digital transformation and leaders of the Digital Silk Road,” he said.

    According to the news release, the CAIH is a digital tech company approved by China’s State Council in 2016 in line with the Belt and Road Initiative.

    Its mission is to build and operate the Digital Silk Road and Digital Guangxi, promoting closer ties between China and ASEAN and supporting the 21st Century Maritime Silk Road, it said.

    MIL OSI China News

  • MIL-OSI New Zealand: Plant elicitors – a vaccine for plants? (BDIS)

    Source: Plant and Food New Zealand – Press Release/Statement:

    Headline: Plant elicitors – a vaccine for plants? (BDIS)

    Plant elicitors have huge potential to help protect New Zealand crops from disease. Acting much like a vaccine, these elicitors allow plants to defend themselves better against disease. Coming from a biological source like seaweed, they offer a more ecologically friendly crop protection option, too.
    This week James Sainsbury from our Ruakura site speaks to Dr Joel Vanneste about his research on the recently Ministry of Business, Innovation and Employment-funded, 5-year project on plant elicitors led by Dr Marie Magnuson and Chris Glasson from Waikato University. Listen along to learn more about plant elicitors and how they could help manage plant diseases, whether in crops or our native trees. To view our catalogue of podcasts, including extra links on some podcasts, please go to our Scigest page: www.plantandfood.com/scigest

    – –

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Op Huia: Police Recover Critical Evidence in relation to Baby Ru’s death

    Source: New Zealand Police (District News)

    As a result of new information, Police investigating the murder of Baby Ru have completed a targeted search in a semi-rural area north of Wellington.

    The concentrated area along Moonshine Road, off State Highway 58, is 20 minutes by car from the Taita home where Ru lived and received the injuries that caused his death on 22 October 2023.

    Items of property highly relevant to the homicide investigation were located during the search and are undergoing forensic examination. 

    Police are not in a position to say exactly what the new information was, but Detective Inspector Pritchard confirmed it did not come from the public.

    “This was information that wasn’t available when Ru died.

    “Part of that work included searching for items that have been deliberately concealed.”

    Detective Inspector Pritchard said Police hope the latest development jogs people’s memory, especially those on Moonshine Road.

    Police are also appealing for sightings of the vehicle that shuttled items from the crime scene.

    “Our message to them is please contact us if you saw something out of place on 22 October last year.” 

    That car is a grey-green 1994 Nissan Sentra, registration TE6972.

    Anyone who has information that may help the investigation is asked to contact Police on 105, quoting file number 231022/1708.

    Information can also be passed to Crime Stoppers on 0800 555 111 or www.crimestoppers-nz.org

    ENDS

    Issued by the Police Media Centre

    MIL OSI New Zealand News

  • MIL-OSI Asia-Pac: Extending the “1+” mechanism to all new drugs on November 1

    Source: Hong Kong Government special administrative region

    Extending the “1+” mechanism to all new drugs on November 1
    Extending the “1+” mechanism to all new drugs on November 1
    *********************************************************************

         The Department of Health (DH) today (October 25) said that according to measures announced in “The Chief Executive’s 2024 Policy Address”, the “1+” mechanism will extend to all new drugs, including vaccines and advanced therapy products, on November 1, 2024, facilitating good drugs for use in Hong Kong. Extending the “1+” mechanism will attract more new drugs from different parts of the world seeking approval for registration in Hong Kong, giving patients more choices and further strengthening the local capacity for drug evaluation while enhancing the development of relevant software, hardware and expertise with a view to progressing towards “primary evaluation”. The Government will complement technological innovation with institutional innovation, developing Hong Kong into an international health and medical innovation hub.     Under the Pharmacy and Poisons Ordinance (Cap. 138), pharmaceutical products must satisfy the criteria of safety, efficacy and quality and be registered with the Pharmacy and Poisons Board of Hong Kong before they can be sold or supplied in Hong Kong. According to the “1+” mechanism that came into effect on November 1 last year, new drugs used for the treatment of life-threatening or severely debilitating diseases that are supported by local clinical data and whose scope of application is recognised by local relevant experts are required to submit approval from one reference drug regulatory authority (instead of two in the past) for application for registration in Hong Kong. The “1+” mechanism will be extended on November 1, applicable to applications for registration of all new drugs.     The DH has announced on its relevant website the arrangement for extending the “1+” mechanism to all new drugs and issued letters to notify relevant stakeholders (including relevant pharmaceutical associations and holders of certificates of drug registration) about the extension measure and relevant details of the “1+” mechanism. For further details, please refer to the Drug Office’s website. The DH will also introduce consultation service for new drug applications under the “1+” mechanism in the first quarter of 2025 to enhance efficiency in processing relevant applications.     Since the implementation of the “1+” mechanism, the DH has received more than 260 enquiries from over 80 pharmaceutical companies, including those from overseas and the Mainland. A total of five new drugs have been approved under this mechanism. These included two new drugs for treating metastatic colorectal cancer, one for treating paroxysmal nocturnal haemoglobinuria, and two new drugs for treating hypercalcaemia in patients with parathyroid carcinoma and in certain patients with primary hyperparathyroidism, bringing new hope for treatment to patients.     The first two new drugs approved under the “1+” mechanism for treating metastatic colorectal cancer have been listed under the category of “Special Drug” on the Hospital Authority (HA) Drug Formulary. Patients prescribed these two drugs under specified clinical applications are only required to pay standard fees and charges, which are substantially subsidised, greatly alleviating their financial burden. The HA will encourage drug manufacturers or suppliers to apply for local registration of unregistered drugs with ongoing needs and continue to liaise closely with the DH regarding the “1+” mechanism.     The Policy Address also announced other measures to expedite the reform of the approval mechanism of drugs. These include putting forward a timetable for establishing the Hong Kong Centre for Medical Products Regulation and charting a roadmap towards “primary evaluation” in the first half of 2025, as well as formulating strategies and measures to facilitate research and development of medical products.

     
    Ends/Friday, October 25, 2024Issued at HKT 12:15

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Economics: Joint Media Statement of the 11th Meeting of the ASEAN Ministers Responsible for Culture and Arts (AMCA)

    Source: ASEAN – Association of SouthEast Asian Nations

    The Eleventh ASEAN Ministers Responsible for Culture and Arts (AMCA) Meeting and the AMCA Meetings with Dialogue Partners, including the ASEAN Plus Three, China, Japan and the Republic of Korea, were held on 24 October 2024, in Melaka, Malaysia. Timor-Leste was in attendance as observer.The theme of the 11th AMCA was “Bridging Cultures, Building Futures: Unity in Diversity” underlined the pivotal role of culture and the arts in promoting sustainable and inclusive development towards strengthening ASEAN’s solidarity.

    Download the full statement here.

    The post Joint Media Statement of the 11th Meeting of the ASEAN Ministers Responsible for Culture and Arts (AMCA) appeared first on ASEAN Main Portal.

    MIL OSI Economics

  • MIL-OSI New Zealand: Save the Children welcomes announcement of remodelled Ka Ora, Ka Ako Healthy School Lunches Programme

    Source: Save the Children

    Child rights organisation Save the Children has welcomed the announcement of the remodelled Ka Ora, Ka Ako Healthy School Lunches Programme, along with the extended investment to deliver to eligible Early Childhood Centres.
    The new model will continue to provide free healthy school lunches to 242,000 primary and secondary students and an additional 10,000 preschoolers.
    Save the Children Advocacy Director Jacqui Southey, who was part of the Expert Advisory Group for the remodelled programme in her independent capacity, says the extension into ECEs is a welcome addition to the vital programme that improves outcomes for children, as is including children’s views.
    “It is heartening to see in the new programme that hot meals continue to feature and include a favourite, Butter Chicken. It is incredibly positive that though the budget for the programme is much tighter, the new suppliers under the School Lunch Collective have committed to quality, nutritious meals that children will enjoy.”
    In a Save the Children survey conducted earlier this year with more than 3000 children across the country, Kiwi kids unanimously supported providing children with healthy and delicious lunches at school. In the survey, children said the programme was important to them and their friends, with some children stating that they didn’t have a lot of food at home and their lunches at school were really important to them.
    Says Ms Southey: “Children are most impacted by changes to the programme so ensuring their voices were heard as part of the redesign was crucial. Continuing to consult with children on a regular basis is essential to ensure the programme works best for them.”
    Save the Children has long been a supporter of food in school provision, and has seen the success of similar programmes in overseas projects.
    Says Ms Southey: “These insights directly align with the findings of evaluations of the Ka Ora Ka Ako programme here in Aotearoa New Zealand that show that the programme directly improves the wellbeing of children receiving the lunches, and teachers report improved concentration and positive behaviours of their students. A number of principals have credited the programme with improved attendance levels in their schools.
    “Ensuring the best for children has remained at the heart of the redesign of the new model. The Government has committed to funding this programme for the next two years, providing crucial investment toward the wellbeing of children and that supports them and their whānau in this very tough economic climate.
    “We call on New Zealand governments now, and in the future, to get behind this important programme and ensure that it has long term sustainable investment that will see it become permanently embedded as part of a progressive education offering delivered by New Zealand schools.”
    About Save the Children NZ:
    Save the Children works in 120 countries across the world. The organisation responds to emergencies and works with children and their communities to ensure they survive, learn and are protected.
    Save the Children NZ currently supports international programmes in Fiji, Cambodia, Bangladesh, Laos, Nepal, Vanuatu, Solomon Islands and Papua New Guinea. Areas of work include child protection, education and literacy, disaster risk reduction and climate adaptation, and alleviating child poverty.

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Commercial jet boat driver sentenced for operating dangerously on a popular South Island river

    Source: Maritime New Zealand

    The need for commercial jet boat operators to have a safety first approach to the routes they take has been highlighted in the prosecution of a driver.
    Today, Patrick Perkins was sentenced in the District Court at Queenstown following a guilty plea for operating a jet boat in a manner which caused unnecessary danger or risk to other persons or property under section 65 of the Maritime Transport Act 1994.
    The charge related to an incident on 30 December, 2022 when Mr Perkins’s jet boat collided with a recreational jet boat on the Clutha River during a commercial run with four passengers on-board. Mr Perkins was the sole director and driver for Go Jets Wanaka Ltd.
    Recreational users of the Clutha are many and varied, from rafts of all types, tyre tubes, kayakers, bathers and recreational jet boaters. The river is close to a large population and easily accessed by all, meaning collisions like this can have devastating outcomes.
    Investigation’s Manager at Maritime NZ, John Maxwell says experts views are that the Clutha is generally not a difficult river to boat.
    “It is predominately a wide deep river with a fast current. It has pressure waves which are best avoided for reasons of passenger comfort and safety, however these hazards can easily be navigated around,” he says.
    Like all rivers in New Zealand, skippers must keep right, if going upstream must give way to vessels coming downstream. In addition, skippers must operate vessels in a manner that is safe and will avoid collision should the risk of collision arise.
    In this case, the driver of the recreational jet boat had spent most of the day parked up downstream to an island in the middle of the river fishing. A spot he regularly went to.
    As the commercial jet boat with four passengers on-board approached the island, where the recreational vessel was waiting, it cut across the river to do a close pass of a rock just downstream of the island.
    “Due to the line, Mr Perkins was unable to see the recreational craft at the head of the island. Despite attempting to take action to avoid collision, the commercial boat struck the recreational craft at about 65 kilometres an hour.
    Fortunately the driver of the recreational jet boat survived, however, he suffered significant injuries and was in hospital for a prolonged period.
    “This incident is a strong reminder to everyone driving jet boats, commercial and recreational, to understand their surroundings, to drive safe lines and to open up corners to ensure visibility. The consequences of failing to do so can be catastrophic for all involved.
    “Everyone deserves to come home safe from a day out on the water,” John Maxwell says.
    Sentencing notes:
    Mr Perkins and convicted and sentenced for one charge under s 65(1) of the Maritime Transport Act 1994.
    The total sentence of $51,727.41:
    – Fine: $4,950 (starting point of $9,000 reduced by 45 per cent to allow for early guilty plea, remorse, payment of reparation and good character).
    – Total reparation of $46,777.41 (which had been paid by Mr Perkins ahead of sentencing). 

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: First Responders – Waikato wetland fire update #13

    Source: Fire and Emergency New Zealand

    Fire and Emergency will continue to monitor the Whangamarino wetland fire through the long weekend.
    Incident Controller Mark Tinworth says the fire has now been under control for two full days with no significant flareups.
    “There will still be some fire activity at the site for the foreseeable future.
    “People may still see smoke in the area due to the nature of where this fire is burning underground. People should not be alarmed by this.”
    Friday’s operations saw helicopters and ground crews dampening down the 16 hotspots identified by the drone crew overnight.
    Crews will be in attendance through the long weekend, with air operations supporting as needed.
    There will be no further updates this weekend unless significant developments occur. 

    MIL OSI New Zealand News

  • MIL-OSI Economics: UK startups secure $12 billion VC funding during Q1-Q3 2024, finds GlobalData

    Source: GlobalData

    UK startups secure $12 billion VC funding during Q1-Q3 2024, finds GlobalData

    Posted in Business Fundamentals

    The UK witnessed the announcement of a total of 877 venture capital (VC) funding deals during January to September (Q1-Q3) 2024, marking a year-on-year (YoY) decline of 15.1%. However, despite the decline in volume, the total disclosed funding value of these deals was up by 9.4% YoY to $12 billion, reveals GlobalData a leading data and analytics company.

    An analysis of GlobalData’s Deals Database revealed that a total of 1,033 VC deals were announced in the UK during Q1-Q3 2023 while the disclosed funding value of these deals stood at $10.9 billion.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The improvement in the total funding value despite a fall in deal volume can be attributed to some big-ticket deals announced during the review period.”

    Some of the notable VC funding deals announced in the UK during Q1-Q3 2024 included $1.05 billion worth of funding raised by Wayve Technologies, $1 billion raised by Abound, $431 million raised by Monzo, and $200 million worth funding raised by DNEG Group, among others.

    Bose adds: “The UK, apart from being the top European market, continues to remain one of the top five global markets for VC funding activity both in terms of deal volume and value.”

    The UK accounted for 7.2% share of the total number of VC deals announced globally during Q1-Q3 2024 while its share of the corresponding disclosed funding value stood at 6.5%.

    Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.

    MIL OSI Economics

  • MIL-OSI Economics: Citi and Jefferies top M&A financial advisers in oil & gas sector during Q1-Q3 2024, reveals GlobalData

    Source: GlobalData

    Citi and Jefferies top M&A financial advisers in oil & gas sector during Q1-Q3 2024, reveals GlobalData

    Posted in Business Fundamentals

    Citi and Jefferies were the top mergers and acquisitions (M&A) financial advisers in the oil & gas sector during Q1-Q3 2024 by value and volume, respectively, according to the latest financial advisers league table by GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Deals Database reveals that Citi achieved the top position in terms of value by advising on $53 billion worth of deals. Meanwhile, Jefferies led in terms of volume by advising on a total of 15 deals.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Both Citi and Jefferies registered improvement in the volume and value of deals advised by them, respectively, as well as their ranking during Q1-Q3 2024 compared to Q1-Q3 2023. Jefferies’ ranking by volume improved from 11th during Q1-Q3 2023 to the top position during Q1-Q3 2024. Meanwhile, Citi went ahead from occupying the eighth position by value during Q1-Q3 2023 to top the chart by this metric during Q1-Q3 2024.

    “During Q1-Q3 2024, Citi advised on six billion-dollar deals* that also included two mega deals valued more than $10 billion. The involvement in these big-ticket deals helped Citi register a significant jump in terms of value.”

    JP Morgan occupied the second position in terms of value, by advising on $48.9 billion worth of deals, followed by Goldman Sachs with $39.7 billion, Jefferies with $39.5 billion and Evercore with $38.3 billion.

    Meanwhile, Evercore occupied the second position in terms of volume with 15 deals, followed by RBC Capital Markets with 12 deals, Barclays with 10 deals and Lazard with nine deals.

    * ≥ $1 billion

    MIL OSI Economics

  • MIL-OSI Economics: Wachtell, Lipton, Rosen & Katz and Kirkland & Ellis top M&A legal advisers in oil & gas sector during Q1-Q3 2024, reveals GlobalData

    Source: GlobalData

    Wachtell, Lipton, Rosen & Katz and Kirkland & Ellis top M&A legal advisers in oil & gas sector during Q1-Q3 2024, reveals GlobalData

    Posted in Business Fundamentals

    Wachtell, Lipton, Rosen & Katz and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the oil & gas sector during Q1-Q3 2024 by value and volume, respectively, according to the latest legal advisers league table by GlobalData, , a leading data and analytics company.

    An analysis of GlobalData’s Deals Database reveals that Wachtell, Lipton, Rosen & Katz achieved the top position in terms of value by advising on $71.7 billion worth of deals. Meanwhile, Kirkland & Ellis led in terms of volume by advising on a total of 31 deals.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Interestingly, Kirkland & Ellis was the top adviser by both value and volume during Q1-Q3 2023. While it managed to retain the top position by volume during Q1-Q3 2024, it lost the top position in terms of value by a whisker to Wachtell, Lipton, Rosen & Katz.

    “The total value of deals advised by Wachtell, Lipton, Rosen & Katz increased by close to 10 times and resultantly it witnessed a massive jump in its ranking by value from 17th position during Q1-Q3 2023 to the top position during Q1-Q3 2023. During the review period, Wachtell, Lipton, Rosen & Katz advised on six billion-dollar deals*, that also included two mega deals valued more than $10 billion. The involvement in these big-ticket deals helped Wachtell, Lipton, Rosen & Katz register a massive jump in terms of value.”

    Kirkland & Ellis occupied the second position in terms of value, by advising on $70.3 billion worth of deals, followed by Vinson & Elkins with $59.2 billion, Latham & Watkins with $43.9 billion and Paul, Weiss, Rifkind, Wharton & Garrison with $35 billion.

    Meanwhile, Vinson & Elkins occupied the second position in terms of volume with 22 deals, followed by Latham & Watkins with 21 deals, White & Case with 16 deals and Gibson, Dunn & Crutcher with 14 deals.

    *≥ $1 billion

    MIL OSI Economics

  • MIL-OSI Economics: South Korea insurance industry to surpass $191 billion by 2029, forecasts GlobalData

    Source: GlobalData

    South Korea insurance industry to surpass $191 billion by 2029, forecasts GlobalData

    Posted in Insurance

    South Korea’s insurance industry is forecast to grow at a compound annual growth rate (CAGR) of 3.4% from KRW 218.3 trillion ($167.1 billion) in 2025 to KRW 249.7 trillion ($191.2 billion) in 2029, in terms of direct written premiums (DWP), according to GlobalData, a leading data and analytics company.

    GlobalData’s Insurance Database reveals that the insurance industry in South Korea is expected to grow by 1.2% in 2024, supported by changing demographics that will lead to an increase in demand for health and retirement pensions products.

    Sneha Verma, Insurance Analyst at GlobalData, comments: “The South Korean insurance industry contracted by 7.5% in 2023 due to slower economic growth which impacted the demand for life insurance products. The growth is expected to bounce back in 2024, supported by a recovery in economy and increase in ageing population.”

    Life insurance and pension is the leading segment in the South Korean insurance industry and is expected to account for an 84% share of the premiums in 2024. After declining by 9.3% in 2023, the life insurance segment is expected to grow by 0.5% in 2024, driven by changing demographic factors, which will drive the demand for health and annuity products. Life insurance and pension is expected to grow at CAGR of 3.1% during 2025-29.

    South Korea is rapidly changing into a super-ageing society. Higher life expectancy and low fertility rates are adding significant pressure on the working age population. As per the Economic and Social Commission for Asia and the Pacific (ESCAP), the share of people aged 65 years and above reached 18.4% in 2023. It is expected to increase sharply and reach 39.4% by 2050, which will support the demand for life insurance.

    Sneha adds: “Increased awareness about health and financial planning will also support life insurance growth in South Korea. The demand for health insurance is increasing due to rising cases of life-threatening diseases. According to the Central Dementia Center of the Ministry of Health and Welfare, the number of dementia cases have increased significantly, and one dementia patient is being identified every 12 minutes.”

    General insurance will account for the remaining 16% share of the DWP in 2024. The segment is expected to grow by 4.9% in 2024 as compared to 4.1% growth in 2023, driven by compulsory lines and increased awareness for liability protection, leading to higher demand for liability insurance products.

    Motor insurance, which is the leading line of business in the general insurance segment, is expected to witness a flat growth in 2024, due to declining vehicle sales. According to Korea Automobile Mobility Industry Association (KAMA), domestic sales decreased by 10.1% to 8,00,000 units in the first half of 2024 compared to 8,90,000 units during the same period in 2023. Weak consumer sentiment driven by economic slowdown and high interest rates have slowed down the sales for new vehicles.

    South Korea is also prone to frequent natural-catastrophic (nat-cat) events, which will support the demand for policies covering fire and natural hazards. As per the National Fire Information System, South Korea has faced 30,316 incidents of fire accidents with a total loss of KRW589.9 billion ($456 million) till October 2024. General insurance is expected to grow at CAGR of 5.1% from 2025-29.

    Sneha concludes: “The South Korean insurance industry is set to experience steady growth over the next five years, with demographic changes driving the demand for life and health insurance. Products catering to the growing needs of a rapidly aging population are expected to be a focus area for insurers over the coming years.”

    MIL OSI Economics

  • MIL-OSI Economics: Results of Underwriting Auctions Conducted on October 25, 2024

    Source: Reserve Bank of India

    In the underwriting auctions conducted on October 25, 2024, for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:

    (₹ crore)
    Nomenclature of the Security Notified Amount Minimum Underwriting Commitment (MUC) Amount Additional Competitive Underwriting Amount Accepted Total Amount underwritten ACU Commission Cut-off rate
    (paise per ₹100)
    6.79% GS 2034 22,000 11,004 10,996 22,000 0.05
    7.46% GS 2073 10,000 5,019 4,981 10,000 0.09
    Auction for the sale of securities will be held on October 25, 2024.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1368

    MIL OSI Economics

  • MIL-OSI New Zealand: Police increase visibility across Auckland transport hubs

    Source: New Zealand Police (National News)

    Police have increased visibility at transport hubs across Tāmaki Makaurau following the fatal Onehunga bus attack and will continue with this increased presence over the long weekend.

    Auckland City Acting District Commander Sunny Patel says it’s important the public knows that Police are continuing to take action.

    “It’s understandable the community are feeling shaken. We want to provide reassurance heading into the long weekend that we will have an ongoing presence around public transport.

    “Our beat teams will also maintain their presence in and around key public spaces.

    “Our city and transport system are important spaces for the public, and people should be free to use these areas without fear.

    “Police and partner agencies will be focused on ensuring these hubs are places where the public and commuters can be safe and feel safe.”

    Police continue to encourage the public to report incidents that may be unfolding so appropriate action can be taken.

    “If an incident is happening now, I urge people to report it to 111 as soon as they can.”

    Information can also be provided to Police by making an online report at 105.police.govt.nz using “Update Report” or by calling 105.

    ENDS

    Issued by Police Media Centre 

    MIL OSI New Zealand News

  • MIL-OSI: LA Airsoft, Founded by Sutton Smith, Announces Significant Growth and Expansion, Solidifying Position as a Leading Airsoft Retailer and Manufacturer

    Source: GlobeNewswire (MIL-OSI)

    FORT WORTH, Texas, Oct. 25, 2024 (GLOBE NEWSWIRE) — LA Airsoft laairsoft.com, a premier airsoft retailer and manufacturer founded by Sutton Smith, proudly announces its remarkable growth and expansion over the past year. With revenues surpassing $2.3 million in the last fiscal year and over 30,000 orders fulfilled, LA Airsoft has firmly established itself as one of the leading brands in airsoft retail and aftermarket part manufacturing.

    Company Expansion and New Retail Storefront

    In early 2024, LA Airsoft relocated its operations to a new 3,700+ sq ft facility in Fort Worth, Texas, tripling its previous space. The state-of-the-art facility features a comprehensive retail storefront, dedicated office spaces, a specialized tech room, a media production area, and an optimized fulfillment center. This expansion has enabled the company to significantly increase its inventory, offering a wider range of products to meet the growing demands of the airsoft community.

    Product Line Diversification and Innovation

    LA Airsoft has substantially expanded its product line to include over 200 new items, featuring more than 50 new base rifles, batteries, chargers, and other essential airsoft equipment. The company continues to innovate within the industry, holding two utility patents pending for proprietary designs. Notably, LA Airsoft introduced regulated large CO2 cartridges as an alternative air source for airsoft guns. Collaborating with a leading company in high-pressure air systems, LA Airsoft designed a special adapter, revolutionizing the way players experience the game.

    Manufacturing Excellence: LA Innovations and LA Capa Customs

    Under its manufacturing brands, **LA Innovations** and **LA Capa Customs**, the company produces a wide array of aftermarket parts for high-end airsoft pistols and rifles. LA Airsoft prides itself on innovative designs, exceptional color matching, and ease of installation. By manufacturing its own products, the company maintains control over supply chains, ensuring consistent availability and quality for its customers.

    Awards and Recognition

    LA Airsoft has been voted “Best Hi Capa Company” by the airsoft community for two consecutive years, 2022 and 2023. These accolades reflect the company’s commitment to excellence, innovation, and customer satisfaction.

    About Founder Sutton Smith

    At just 21 years old, Sutton Smith has transformed LA Airsoft from a small startup into a thriving multi-million-dollar enterprise. Balancing his role as CEO with his full-time undergraduate studies, Sutton’s entrepreneurial drive and strategic vision have been key factors in the company’s rapid growth and ongoing success. To learn more about Sutton’s professional journey and connect with him directly, visit his LinkedIn profile.

    Future Endeavors

    Looking ahead, LA Airsoft plans to continue expanding its operations, increasing manufacturing capabilities, and exploring new markets. The company is enhancing its online presence by selling select products on Amazon via FBA and boosting its social media engagement. LA Airsoft aims to become the one-stop shop for all airsoft needs, both domestically and internationally.

    About LA Airsoft

    Founded in 2020 by Sutton Smith, LA Airsoft has evolved from a modest startup into a multi-million-dollar enterprise. Specializing in airsoft retail and aftermarket part manufacturing, the company serves customers worldwide from its headquarters in Fort Worth, Texas. LA Airsoft is dedicated to providing high-quality products and exceptional service to the global airsoft community.

    For more information, please visit
    laairsoft.com or
    follow us on social media:
    – Instagram: @lacapacustoms
    – YouTube: LA Capa Customs

    Media Contact:

    Company name: LA Airsoft
    Contact Name: Sutton Smith
    Contact Title: Founder
    Email: sutton@laairsoft.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9eab2b72-7b30-467d-8e3a-f92234f1dbda

    The MIL Network

  • MIL-OSI: Bigbank’s Unaudited Financial Results for Q3 2024

    Source: GlobeNewswire (MIL-OSI)

    Bigbank’s total gross loan portfolio grew to a record 2.1 billion euros by the end of the quarter, increasing by 158 million euros (+8%) quarter on quarter and by 451 million euros (+28%) year on year. All three main product lines posted solid quarter-on-quarter growth. The corporate loan portfolio grew by 46 million euros (+7%) to 703 million euros, the housing loan portfolio by 78 million euros (+17%) to 534 million euros and the consumer loan portfolio by 36 million euros (+4%) to 837 million euros.

    On the deposit side, the term deposit portfolio showed solid growth, increasing by 86 million euros to 1.25 billion euros (+7%) in the third quarter. The savings deposit portfolio decreased by 82 million euros to 1.01 billion euros during the quarter. This was mainly because our deposit customers continued to switch their short-term savings products to 3- to 9-month term deposits to lock in an attractive interest rate for the chosen period. The Group’s total deposit portfolio grew by 11 million euros (+0.5%) over the quarter and by 484 million euros (+27%) over the year to 2.27 billion euros.

    Bigbank ended the first nine months of 2024 with a net profit of 27.6 million euros, compared with 29.4 million euros for the same period in 2023. In the third quarter, Bigbank earned a net profit of 11.8 million euros. Compared to the third quarter of 2023, net profit decreased by 0.6 million euros (-5%).

    Group’s net interest income increased compared to the third quarter of 2023: net interest income for the third quarter of 2024 was 27.7 million euros (Q3 2023: 26.1 million euros), 1.6 million euros (+6%) higher than a year earlier. Net interest income for the first nine months of 2024 was 79.1 million euros, up 6.3 million euros (+9%) year on year.

    In the third quarter, the credit quality of the loan portfolio remained stable compared to the previous quarter. However, compared with the 2023 figures, there was some deterioration in the consumer and corporate loan portfolios, but this is due to a decline in quality in the first quarter of 2024. The quality of the housing loan portfolio remains excellent.

    Net loss allowances for loans and provision expenses totalled 4.2 million euros. This represents a significant decrease of 2.1 million euros compared to the previous quarter (6.3 million euros) and a decrease of 0.8 million euros compared to the third quarter of 2023 (5.0 million euros).

    The Group’s income tax expense increased by 0.6 million euros to 2.4 million euros compared to the third quarter of 2023. The increase was driven by the introduction of advance income tax in Latvia at the end of 2023, which was only reflected in the figures for the fourth quarter of 2023 but will affect all quarters in 2024.

    The Group’s investment property portfolio, which includes both agricultural land and commercial real estate, stood at 48.7 million euros at the end of the third quarter. During the quarter, the Group sold agricultural land of 0.3 million euros.

    Income statement, in thousands of euros Q3 2024 Q3 2023 9M 2024 9M 2023
    Net interest income 27,717 26,090 79,090 72,790
    Net fee and commission income 2,316 2,097 6,725 6,116
    Net income (loss) on financial assets 1,023 3,965 4,101 4,976
    Net other operating income -974 -1,033 -2,800 -1,686
    Total net operating income 30,082 31,119 87,116 82,196
    Salaries and associated charges -6,813 -6,072 -19,576 -17,687
    Administrative expenses -2,827 -3,845 -8,781 -11,158
    Depreciation, amortisation and impairment -2,145 -2,001 -6,297 -4,361
    Total expenses -11,785 -11,918 -34,654 -33,206
    Provision income (expense) 1,223 79 -106 -882
    Profit before loss allowances 19,520 19,280 52,356 48,108
    Net loss allowances on loans and financial investments -5,410 -5,023 -19,293 -13,985
    Profit before income tax 14,110 14,257 33,063 34,123
    Income tax expense -2,371 -1,887 -5,503 -4,169
    Profit for the period from continuing operations 11,739 12,370 27,560 29,954
    Income (loss) from discontinued operations 0 61 29 -557
    Profit for the period 11,739 12,431 27,589 29,397
             
             
             
    Statement of financial position, in thousands of euros 30 Sept 2024 30 June 2024 31 Dec 2023 restated* 30 Sept 2023
    Cash and cash equivalents 475,284 626,081 518,672 406,837
    Debt securities at FVOCI 14,992 9,907 15,400 14,942
    Loans to customers 2,059,625 1,902,001 1,662,002 1,608,720
    Other assets 87,126 89,255 91,324 88,709
    Total assets 2,637,027 2,627,244 2,287,398 2,119,208
    Customer deposits and loans received 2,274,269 2,264,137 1,946,314 1,791,581
    Subordinated notes 83,437 88,148 76,109 71,490
    Other liabilities 14,585 22,113 20,182 18,909
    Total liabilities 2,372,291 2,374,398 2,042,605 1,881,980
    Equity 264,736 252,846 244,793 237,228
    Total liabilities and equity 2,637,027 2,627,244 2,287,398 2,119,208

    Commentary by Martin Länts, chairman of the management board of Bigbank AS: “The third quarter of 2024 marked the continuation of stable and strategic growth for Bigbank, highlighted by a significant milestone as our gross loan portfolio surpassed 2 billion euros for the first time, reaching 2.1 billion euros. Our bank’s strategy focuses on stable growth in the home loan and business loan product lines, and this is reflected in the results. In the third quarter, our gross portfolio grew by 158 million euros (+8%), marking the largest quarterly growth in Bigbank’s history. I would particularly highlight the home loan portfolio’s quarterly growth of 78 million euros (+17%), bringing it to a total of 534 million. In a declining interest rate environment, we are also pleased with the 6% growth in net interest income compared to Q3 2023 and the 9% year-on-year increase for the first nine months.”

    Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 30 September 2024, the bank’s total assets amounted to 2.6 billion euros, with equity of 264,7 million euros. Operating in nine countries, the bank serves more than 150,000 active customers and employs over 500 people. The credit rating agency Moody’s has assigned Bigbank a long-term deposit rating of Ba1, as well as a baseline credit assessment (BCA) and adjusted BCA of Ba2.

    Argo Kiltsmann
    Member of the Management Board
    Tel: +372 53 930 833
    Email: Argo.Kiltsmann@bigbank.ee 
    www.bigbank.ee

    Attachment

    The MIL Network

  • MIL-OSI Economics: TOYOTA GAZOO Racing to Exhibit Immersive Content at Super Taikyu Series 2024 Final Fuji

    Source: Toyota

    Headline: TOYOTA GAZOO Racing to Exhibit Immersive Content at Super Taikyu Series 2024 Final Fuji

    TOYOTA GAZOO Racing (TGR) announced today that it will exhibit Japan’s first outdoor-compatible mobile immersive dome tent in the event square at the ENEOS Super Taikyu Series 2024 Empowered by BRIDGESTONE Round7 (Round 7 Super Taikyu Final Fuji), to be held on Saturday, November 16 and Sunday, November 17, 2024. This initiative aims to communicate the appeal of motorsports and the Super Taikyu Series in a new way while conveying its fun and depth to as many people as possible, including children.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: FS concludes US visit

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan wrapped up his visit in New York yesterday by meeting representatives from several family offices and touring a technology accelerator and venture capital platform.

    In the morning, Mr Chan held a breakfast meeting with representatives from several family offices, introducing Hong Kong’s unique advantages as a global leading hub for asset and wealth management, as well as the latest developments in this field.

    He welcomed them to leverage Hong Kong’s efficient and diverse capital markets, robust family office service network and ecosystem, and global business connections for wealth succession and developing family philanthropies, while exploring more investment opportunities in the Mainland and Asia.

    The Financial Secretary then visited the technology accelerator and venture capital platform Newlab, where apart from touring the startups they nurture and support, he met their staff in charge.

    Noting that the platform is considering expanding its business overseas and establishing more locations, Mr Chan highlighted the Innovation & Technology Accelerator Pilot Scheme in the recently announced Policy Address.

    He said that with over 4,200 startups in Hong Kong, the city has a vibrant and active startup ecosystem, a full-chain fundraising market, and a listing system tailored for specialised tech companies.

    Furthermore, with ongoing deepening co-operation with the Guangdong-Hong Kong-Macao Greater Bay Area cities in innovation and technology, he welcomed the platform to set up a base in Hong Kong and explore collaboration opportunities.

    Mr Chan is expected to arrive back in Hong Kong tonight.

    MIL OSI Asia Pacific News

  • MIL-OSI Economics: RBI@90 Art Competition for Fine Art Students

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) conducted an Art Competition, as part of the commemoration of its 90th year, for fine art students in India. 71 undergraduate fine arts students from 71 colleges in the country participated in the competition.

    Eligible artworks focusing on themes associated with the Reserve Bank of India, received during the month of August and September 2024, were displayed and evaluated in an event organised by the Reserve Bank at its New Delhi Regional Office on October 22, 2024. Students and faculty members of participating colleges/ institutes from 25 states of India attended the event. The artworks, inspired by Indian art forms showcased the creative talents of undergraduate students at fine art institutes in the country.

    A panel of judges from the art world evaluated the artworks. 15 artworks out of the submissions received were awarded and felicitated.

    The event also included a panel discussion on evolution of Indian art, influence of social media on art, future of traditional painting forms with advent of digital tools and artificial intelligence, impact of globalisation, art fairs, biennales, etc.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1369

    MIL OSI Economics

  • MIL-OSI Video: President Cyril Ramaphosa concludes his working visit to the BRICS Summit in Russia

    Source: Republic of South Africa (video statements)

    Stay updated, South Africa! Subscribe to The Presidency’s Channel here: https://www.youtube.com/@PresidencyZA/?sub_confirmation=1.

    Checkout more: http://www.thepresidency.gov.za

    Get Social
    Facebook ► https://www.facebook.com/PresidencyZA
    Instagram ► https://www.instagram.com/presidencyza/?hl=en
    Twitter ► @PresidencyZA

    #ThePresidencyofSouthAfrica #PresidencyZA

    https://www.youtube.com/watch?v=wOYRFecG7LY

    MIL OSI Video

  • MIL-OSI Russia: NSU scientists have received the first pilot batch of synthetic fuel from non-recyclable plastic

    Translation. Region: Russian Federation –

    Source: Novosibirsk State University – Novosibirsk State University –

    A catalytic unit for processing liquid products of polymer waste pyrolysis into synthetic fuel has been installed in the laboratory of the Department of Physical Chemistry of the Faculty of Natural Sciences of Novosibirsk State University. During the first three weeks of its operation, scientists obtained the first three liters of kerosene. At present, optimal operating modes of the capillary reactor are being determined, important catalyst regeneration cycles are being worked out, optimal parameters of the catalytic process are being selected, a catalyst is being selected, the most important performance indicators of the unit are being monitored, and the resulting product is being analyzed.

    The equipment was provided to NSU scientists by specialists from Onium Plus LLC (Yaroslavl). They were also involved in the installation of the equipment. Publication about the joint work of scientists from the Department of Physical Chemistry Faculty of Natural Sciences of NSU, the Boreskov Institute of Catalysis of the Siberian Branch of the Russian Academy of Sciences and representatives of this company to create a technology for converting non-recyclable plastic into synthetic fuel was published on the NSU website in December 2023. You can read it by link.

    The jointly developed technology consists of several stages. First, non-recyclable plastic undergoes pyrolysis – thermal destruction without oxygen at temperatures from 400 to 600 ° C. The output is pyrolysis oil – a heterogeneous liquid mixture of hydrocarbons containing a large number of undesirable impurities, dark yellow in color with a strong unpleasant odor. Then the multicomponent mixture is divided into fractions based on boiling point. Pyrolysis oil and its fractions are not yet suitable for use as fuel – due to the high content of unsaturated hydrocarbons, this substance can damage internal combustion engines. It can be converted into usable fuel through the use of catalytic technology. Representatives of Onium Plus LLC asked NSU researchers to develop it, who conducted preliminary experiments with nickel-molybdenum catalysts on an aluminum oxide support. The first positive results were obtained using them in tubular reactors – a transparent, colorless liquid with a faint odor of kerosene was synthesized. However, before using it for internal combustion engines, it is necessary not only to develop a new composition and method of catalyst synthesis, but also to modify the hydrogenation plant, select the optimal parameters of the catalytic process, and work out all cycles of automatic catalyst regeneration. For this purpose, the company’s specialists created two more catalytic installations – a pilot and a laboratory. The pilot one is working at the enterprise, and the laboratory one was made available to NSU researchers at the end of May. Parallel trials of the catalytic process are currently underway. NSU scientists select catalyst compositions, process conditions, temperature conditions, pressure, flow rates, and company specialists conduct life tests on an enlarged scale. An important condition of the experiment is that both installations must operate around the clock in a continuous mode.

    — The liquid product of plastic waste pyrolysis, which mainly consists of medium and heavy fractions with a large amount of unsaturated hydrocarbons, is fed from the feedstock tank using a high-pressure liquid pump to the mixer, where it is mixed with hydrogen under a pressure of 40 atmospheres. Then the mixture is fed in portions to the reactor, inside which a catalytic reaction occurs under conditions of high pressure and high temperature. Depending on the composition of the catalyst, hydrogenation, hydrocracking or hydroisomerization occurs. At the moment, this is hydrocracking at a pressure of 40 atmospheres and a temperature of 360 – 400 degrees Celsius, which is considered the norm for this process. These parameters are selected depending on what product needs to be obtained. In this case, the task is to obtain kerosene, — said Anton Lysikov, a researcher at the Department of Physical Chemistry of the Faculty of Natural Sciences of Novosibirsk State University, about the device of the installation.

    From the reactor, the product mixture enters the separator via a coil, where it cools down and separates into gas and liquid. The gas goes up, and the liquid gradually condenses in the accumulator. When the liquid weight reaches a specified value, it is discharged using the lock method: the first valve of the discharge line is turned on, and the liquid product is poured into the buffer tank. After the weight decrease is recorded, this valve closes and the second one opens, the liquid enters the receiver, and the product yield is assessed in accordance with the scale readings. Then the second valve is also closed until the next sampling. This design with automatic overflow allows to avoid a significant pressure drop when removing products from the process and to accumulate them stably during long-term experiments.

    — Our first attempts to process the liquid product of polymer waste pyrolysis resulted in obtaining a substance similar to what we are synthesizing now, only its freezing temperature was about zero degrees Celsius. This figure is much higher than what we intended to achieve. Therefore, we had to select a catalyst composition that would initiate a cracking and isomerization reaction, leading to a strong decrease in the freezing temperature. And now it is already -20 degrees. In three weeks of continuous round-the-clock work, we extracted about 3 liters of high-quality non-freezing kerosene from the pyrolysis product, which can be used as a fuel additive. The production rate is 6 ml per hour, — said Ekaterina Parkhomchuk, Associate Professor of the Department of Physical Chemistry of the NSU Natural Sciences Department.

    The finished product undergoes a thorough analysis: researchers study its fractional, group, component and elemental composition. They measure the sulfur and chlorine indicators at the outlet, flash point and turbidity. These parameters are very important for the further use of the final product, they determine its practical purpose.

    The first experiments were suggested by NSU scientists to start with widespread and well-known systems: nickel-molybdenum catalysts on an aluminum oxide carrier. They managed to obtain the first positive results.

    — We have gained the first experience — we have determined the activity of this catalyst, observed the process, acquired the skill of working with unusual raw materials, and identified the main problem. It is that pyrolysis oil is very different from traditional oil. Most often, such raw materials contain long-chain hydrocarbons and are characterized by a high content of C17 hydrocarbons, which have high freezing and boiling points. They accumulate in the cold zones of the reactor, forming “wax” plugs, due to which pressure drops can occur. Having encountered this problem, we began to select hydrocracking and hydroisomerization catalysts to break long-chain hydrocarbons into smaller molecules, making them branched. This allowed us to solve the problem of reactor waxing, as well as reduce the freezing and turbidity temperatures of the product, and at the output we received higher quality and flammable hydrocarbons, — explained Ekaterina Vorobyova, a postgraduate student of the Department of Physical Chemistry of the Faculty of Natural Sciences of NSU.

    First, a hydrogenation catalyst was obtained, then a hydroisomerization and hydrocracking catalyst, on which the first positive results were obtained: the cloud point began to decrease significantly, hydrocarbons began to burn differently. Now scientists are working on a catalyst with increased activity in hydrocracking and hydroisomerization, while obtaining a product with a cloud point below -20. It is important to note that this is its stable operation for several hundred hours. But the most important thing is that products were obtained that flash and burn as needed, hydrogenation and hydrocracking processes are underway, the products contain a large number of isomers, which is required to obtain synthetic motor fuels and oils.

    The installation with the new catalyst has been operating continuously for almost four weeks, and the catalyst activity has not been lost, no pressure drops have been observed, and no coking has occurred.

    — The main thing is that while developing this technology, we continue to improve our skills in working with this special raw material, which is so different from oil. For us, this is a very interesting task, since plastic waste is really growing. And not all of it is recyclable. Burying it in landfills is not a solution to the problem. For me, from a scientific point of view, it is interesting to identify the features of processing this raw material, as well as the requirements for the properties of the catalyst, which will allow us to stably and for a long time obtain high-quality motor fuels and oils from non-recyclable waste into valuable fuel, — said Ekaterina Vorobyova.

    Scientists assess the results of their work as encouraging, and the production of fuel from pyrolysis products as profitable, because only 5% of the original substance turns into gas, the rest of the mass turns into high-quality synthetic fuel. At the moment, this technology can be considered almost ready for implementation, which will be determined only by the speed of construction of catalytic units. The main difference between production samples and a laboratory unit is the number of reactors. In a laboratory unit, there is one reactor, and in industrial ones, it is theoretically possible to install hundreds and even thousands. Then the productivity will increase many times over.

    — Each type of catalyst or new parameters, before being implemented, requires thousands of running hours. The more parallel tests, the faster the process optimization and confirmation of the success of certain solutions. By the end of the year, we will put into operation two additional laboratory units for hydrogenation, increasing the number of simultaneously running processes. But the most interesting task, in our area of responsibility, which we are currently implementing, is the creation of a pilot unit with dozens of micro reactors simultaneously. This module will allow the process to be carried out with a capacity of liters per hour. All systems will be integrated in it, as in a “large” plant. It is equipped with its own hydrogen source, its own hydrogen purification and recompression unit and an automatic regeneration system. In addition to confirming the readiness of the catalytic system for industrial use, this device will also confirm the economic aspects of fuel production. The cost of the process will be very accurately determined, which is necessary for further industrial implementation, — explained Alexander Klimov, a representative of the company OOO Onium Plus.

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

    MIL OSI Russia News

  • MIL-OSI Australia: Next round of funding opens to boost mobile network resilience

    Source: Australian Ministers 1

    The Albanese Government is continuing to strengthen the resilience of mobile network communications in regional, remote and peri-urban Australia to keep communities safer and better connected during, and after, natural disasters.
     
    Up to $20 million (GST exclusive) is available through Round 3 of the Albanese Government’s Mobile Network Hardening Program (MNHP), with applications open and guidelines available at www.grants.gov.au
     
    The MNHP co-funds projects with mobile carriers and tower companies to deliver upgrades that reduce the risk of outages and improve restoration times, for example, portable generators, back-up power equipment and physical mobile tower hardening.
     
    Round 3 of the MNHP is open to projects located natural disaster-prone areas in regional and remote Australia and, for the first time, in the peri-urban fringe of 19 capital and major regional cities.
     
    Applications for Round 3 of MNHP close 5 PM AEDT Friday, 20 December 2024.
     
    An online Project Noticeboard allows communities to provide advice to the telco industry on potential projects or locations.

    The Noticeboard is available on the Department’s website until Friday 13 December 2024, at: https://www.infrastructure.gov.au/media-communications-arts/phone/mobile-network-hardening-program/mobile-network-hardening-program-round-3-project-noticeboard
     
    In total, the Albanese Government is investing $2.2 billion in regional communications – the most significant investment in this critical area since the inception of the National Broadband Network.
     
    Including up to $100 million towards improving the resilience of networks against natural disasters through the Better Connectivity Plan for Regional and Rural Australia.
     
    Rounds 1 and 2 of the MNHP are funding 1,386 projects nationwide, with 896 already complete.
     
    For more information on the Government’s Better Connectivity Plan, visit: www.infrastructure.gov.au/bcp.
     
    For more information on the Mobile Network Hardening Program, visit: www.infrastructure.gov.au/mnhp
     
    Quotes attributable to Minister for Communications, the Hon Michelle Rowland MP:
     
    “The Albanese Government understands how vital telecommunication services are for keeping communities safe, connected and informed during disruptions, emergencies and natural disasters – in some circumstances, it can mean the difference between life and death.
     
    “Through the Better Connectivity Plan for Regional and Rural Australia, we are investing up to $100 million towards improving the resilience of networks against natural disasters.

    “This includes $20 million through the latest round of the Mobile Network Hardening Program to boost the resilience of communications networks outside major cities.
     
    “For the first time, this program is available for communities on the urban fringes of our major cities, which are prone to natural disasters.
     
    “I encourage local communities to speak with their Councillors, State, Territory and Federal representatives to identify potential projects or locations that could benefit from improved communications resilience.”

    MIL OSI News

  • MIL-OSI Australia: Adelaide family the key to new disease breakthrough

    Source: University of South Australia

    25 October 2024

    L-R: Jiarna Zerella (PhD student, SA Pathology), Kristijan Ramsea (family member whose samples were used to make to make this discovery), Prof. Hamish Scott and Assoc. Prof. Chris Hahn.

    An Adelaide family has played a crucial role in the discovery of a new bone marrow disease called ERG Deficiency Syndrome, leading to the introduction of a new clinical diagnostic test.

    Centre for Cancer Biology (CCB) researchers at SA Pathology and the University of South Australia made the breakthrough after investigating the family’s battle with a complex set of blood disorders.

    The mother who suffered from several blood disorders in early adulthood, was subsequently diagnosed with acute myeloid leukaemia. A pattern of similar blood disorders was also recognised in her children, prompting genetic researchers to investigate.

    Extensive genetic testing by genome sequencing was performed on each affected family member ruling out all known genes associated with bone marrow failure and blood cancer.

    The family was then recruited into the Australian Familial Haematological Conditions Study (AFHCS) based in Adelaide, and their genome was re-examined by the researchers to detail their genetic information.

    It was here that researchers made a surprising discovery, identifying a highly suspicious mutation in the ERG gene, not previously known to cause symptoms linked to familial bone marrow failures and blood cancers.

    Adding to the complexity, the mutation was discovered by looking at hair samples as it was hidden by a mechanism called somatic gene rescue, masking the variant in each of the family members’ blood samples.

    After calling national and international colleagues and entering the mutation into an international matchmaking database (used for rare diseases to bring together researchers, who have identified patients with similar clinical symptoms and mutations in the same gene), the genetic researchers identified a cohort of patients from around the world with ERG mutations linked to bone marrow failure and blood cancer.

    The team then designed state-of-the-art bespoke tests to demonstrate that the mutations severely disrupt the role of ERG in the normal development of blood cells in a way that may predispose them to bone marrow failure and blood cancer.

    As a result, ERG has now been added to routine testing as a clinical screening test for bone marrow failure and blood cancer at SA Pathology and is being implemented worldwide.

    The discovery also opens the door for predictive testing, offering reproductive choices to families at risk, and screening of unaffected family members carrying the mutation for early detection of the disease.

    For those diagnosed with the disease, bone marrow transplantation offers a potential cure so the breakthrough also means that clinicians can identify unaffected family members as potential bone marrow donors.

    Quotes attributable to Lead Researcher and SA Pathology Head of Genetics and Molecular Pathology, Professor Hamish Scott

    This Adelaide family has helped us pave the way for the identification of ERG Deficiency Syndrome, marking an exciting new chapter in our understanding of blood conditions.

    By being able to identify this mutated gene, we can diagnose patients and predict the likelihood of bone marrow failure and blood cancer occurring in the future, which will undoubtedly help countless families across the world.

    Quotes attributable to Researcher and Section Head of the Molecular Pathology Research Laboratory, Associate Professor Chris Hahn

    Thanks to this one Adelaide family, we have uncovered a new pathway in understanding blood conditions, enabling doctors to better monitor and counsel individuals at risk, which will help to improve blood cancer outcomes by early detection and optimal therapy.

    Hereditary cases of bone marrow failure and blood cancers are devastating for families, so identifying genetic mutations in those affected by these diseases has immediate implications for family members.

     ………………………………………………………………………………………………………………….

     

     

    Other articles you may be interested in

    MIL OSI News

  • MIL-OSI Australia: CFA announced as EQUITANA’s 2024 official community partner

    Source: Victoria Country Fire Authority

    The four-day event from 14 to 17 November 2024 at Melbourne Showgrounds includes a mix of competition, education, entertainment and exhibition.

    It is regarded as the largest equine showcase in the Southern Hemisphere.

    As EQUITANA’s official community Partner, CFA will focus on helping horse owners prepare and plan for the bushfire season.

    Every Victorian who lives near dense forest, bush, grassland or the coast needs to prepare their property for bushfire. This includes considering what to do with animals.

    CFA members from Wingeel, Macclesfield and Arthurs Creek brigades, a fire truck and a mobile education unit will attend the event to engage with visitors about property maintenance, making the decision to relocate your horses, preparing your horse for survival and actions to take after a fire.

    This information is also relevant to those running agistment properties, trail ride centres and riding schools.

    CFA thanks the organisers of EQUITANA Melbourne 2024 for inviting us be part of this event.

    Horse lovers interested in attending the event can find more on the EQUITANA website.

    Submitted by Georgina Hill

    MIL OSI News

  • MIL-OSI: Sampo plc’s share buybacks 24 October 2024

    Source: GlobeNewswire (MIL-OSI)

    Sampo plc, stock exchange release, 25 October 2024 at 8:30 am EEST

    Sampo plc’s share buybacks 24 October 2024

    On 24 October 2024, Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI4000552500) as follows:                

    Sampo plc’s share buybacks Aggregated daily volume (in number of shares) Daily weighted average price of the purchased shares* Market (MIC Code)
      4,428 40.36 AQEU        
      44,395 40.37 CEUX
      135 40.39 TQEX
      44,537 40.37 XHEL
    TOTAL 93,495 40.37  

    *rounded to two decimals                

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

    After the disclosed transactions, the company owns in total 9,321,206 Sampo A shares representing 1.69 per cent of the total number of shares in Sampo plc, taking the issuance of shares on 16 September 2024 into account.

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

    On behalf of Sampo plc,
    Morgan Stanley

    For further information, please contact:

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

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

    Attachment

    The MIL Network

  • MIL-OSI Economics: Result of the 6-day Variable Rate Repo (VRR) auction held on October 25, 2024

    Source: Reserve Bank of India

    Tenor 6-day
    Notified Amount (in ₹ crore) 25,000
    Total amount of bids received (in ₹ crore) 48,700
    Amount allotted (in ₹ crore) 25,005
    Cut off Rate (%) 6.55
    Weighted Average Rate (%) 6.57
    Partial Allotment Percentage of bids received at cut off rate (%) 17.12

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1370

    MIL OSI Economics

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    Source: Hong Kong Information Services

    The Buildings Department said that it is following up on an incident of broken glass cladding at the external wall of Citywalk in Tsuen Wan tonight and added that no obvious danger to the overall building structure was noted.

    Upon notification of the incident by Police at about 7.30pm, the department immediately deployed staff to carry out a site inspection and found that a piece of glass cladding, measuring about 3m by 2m, at the external wall of the building’s fifth floor facing Wo Tik Street was broken. 

    The affected pavement is temporarily fenced off and the department will continue to follow up on the matter.

    As instructed by the department, the property management company (PMC) of the building has arranged a contractor to remove the remaining loose pieces of glass tonight.

    The PMC is also tasked with arranging to have the other glass cladding inspected and carrying out necessary repairs as soon as possible to ensure public safety.

    The department will issue an investigation order to require the owner to appoint an authorised person to conduct the investigation and submit an investigation report together with a remedial proposal.

    It will also maintain contact with the PMC to monitor the progress of the investigation and repair works.

    The department pointed out that it has specific requirements on the quality and construction of glass cladding. For example, the testing of materials and procedures before installation should comply with the relevant statutory requirements. 

    It emphasised that it is the owners’ responsibility to ensure the safety of their buildings, adding that timely repair and maintenance of private buildings is the owners’ basic responsibility.

    Owners may be liable to criminal prosecution and civil proceedings if the building dilapidation causes damage to property or injury to persons, the department said.

    MIL OSI Asia Pacific News

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    Source: Hong Kong Information Services

    The Education Bureau today announced that applications will open for the fourth cohort of the School Nominations Direct Admission Scheme to provide an additional pathway to university for students with exceptional talent.

    The bureau noted that the scheme recognises the outstanding talent of students in specific disciplines that may not be fully assessed by the Hong Kong Diploma of Secondary Education (HKDSE) Examination.

    The scheme is open for application by local Secondary 6 students who will be taking the 2025 HKDSE and commencing their undergraduate studies in September 2025.

    Its nomination period will run from October 25 to December 4.

    Each local secondary school can nominate two students with exceptional talent and interests in specific disciplines or areas and each nominee can apply for admission to one of the around 300 designated University Grants Committee (UGC)-funded undergraduate programme participating in the scheme.

    The eight UGC-funded universities have set admission criteria that are not based on HKDSE Examination results for individual programmes.

    Participating universities will arrange interviews for all students nominated and make firm offers to successful students prior to the release of the 2025 HKDSE Examination results.

    Starting from the 2025-26 academic year, the Home & Youth Affairs Bureau will introduce a new scholarship scheme for successful admittees with remarkable achievements in arts, sports or community service.

    Each awardee, who will not be subject to means testing, will be granted a scholarship of $10,000 per year throughout their four-year tuition period.

    MIL OSI Asia Pacific News