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Category: KB

  • MIL-OSI Economics: Secretary General of ASEAN participates in Singapore International Energy Week 2024

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today delivered a keynote speech at the Singapore International Energy Week (SIEW) 2024 Summit, held in Singapore. In his remarks, Dr. Kao emphasized the need for enhanced cooperation among ASEAN Member States as well as between ASEAN and its external partners in strengthening regional energy security and sustainable development. He also highlighted ASEAN’s efforts under the ASEAN Plan of Action and Energy Cooperation (APAEC) Phase II 2021-2025, in which he urged for greater synergy in advancing regional initiatives such as the ASEAN Power Grid (APG) and fostering innovation in renewable energy to meet future energy demands.

    Download the full speech here.

    The post Secretary General of ASEAN participates in Singapore International Energy Week 2024 appeared first on ASEAN Main Portal.

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI China: China’s new policies spur foreign investor confidence

    Source: China State Council Information Office

    Foreign entrepreneurs are increasingly bullish on the Chinese market, buoyed by recent economic policies aimed at encouraging growth and stability. This heightened optimism was evident at the Annual Conference of Financial Street Forum 2024, held Oct. 18-20 in Beijing.

    Pan Gongsheng, governor of the People’s Bank of China, highlighted the positive reception of these policies at the forum’s opening ceremony on Oct. 18. “Since the implementation of the policy package, we have received positive feedback from home and abroad, effectively boosting social confidence and promoting the stable operation of the economy and financial markets,” Pan said.

    “China’s forward-thinking government policies, such as the recent stimulus package, have demonstrated a commitment to fostering stable and sustainable growth, particularly in key sectors like technology, green energy and healthcare,” said Jack Perry, chairman of the 48 Group and CEO of London Export Corporation, at an afternoon subforum titled “Joint Promoting Enterprise Development with Global Capital Integration.”

    Perry praised China’s leadership, reassuring international investors that China is not only a place of opportunity but also a reliable partner for long-term investment.

    “As the country transitions from an industry-driven to a consumption-driven economy, it opens doors to investors from across the globe,” Perry said.

    He added, “The sheer size of China’s market and its growing middle class of 400 million, which will soon expand to nearly 800 million, offers significant opportunities for international companies to expand their reach.”

    Regarding how China can continue to attract international capital, Perry said the answer lies in creating an inclusive environment for investment.

    “Optimizing regulatory frameworks, strengthening intellectual property protections and fostering transparent communication between foreign and domestic stakeholders are all crucial steps in this process,” Perry said.

    He stressed that international markets stand to gain from Chinese capital just as China benefits from foreign investment. “This two-way exchange strengthens global partnerships and fosters innovation on both sides,” Perry emphasized.

    Shane Tedjarati, vice chairman of Prologis Global, speaks at a subforum titled “Jointly Promoting Enterprise Development with Global Capital Integration,” during the Annual Conference of Financial Street Forum 2024 in Beijing, Oct. 18, 2024. [Photo by Wang Yiming/China.org.cn]

    Shane Tedjarati, vice chairman of Prologis Global, echoed these sentiments. “Today, as we’ve seen over the past 30 years, there’s little debate that China was the priority investment for the whole world,” Tedjarati said, noting that China’s economic trajectory has generated real wealth “not just for China, but for the whole world for three consecutive decades.”

    Despite acknowledging several challenges facing the country, Tedjarati maintained a positive outlook on China’s economic prospects.

    “The theme of this conference, ‘trust and confidence,’ is at the heart of the policies the Chinese government is now taking to confront these challenges head-on,” he explained, adding that early signs of a recovery in consumption were emerging.

    Tedjarati underscored China’s significance as a global manufacturing powerhouse, supported by “an impressive infrastructure with a complete industrial supply chain, highly skilled workers, an extensive supply system and a growing domestic market.”

    One key driver of China’s growth is consumption and the rise of the middle class, Tedjarati said.

    He noted that China has been the main contributor to the creation of the global middle class. “The middle class in China is expected to rise in the next 15 years from about 31% of the world’s total to nearly 40%, making it the world’s largest middle class,” Tedjarati added.

    Tedjarati also highlighted China’s urbanization, noting its distinct and systematic approach to urban planning, which he said bodes well for China’s growth. Additionally, he praised China’s e-commerce infrastructure as “a trailblazer in the world,” a model that few other major economies have been able to replicate.

    Concluding his speech, Tedjarati addressed a question on many minds: “Where is the next China?” His answer was clear and confident: “The next China is still China.”

    MIL OSI China News –

    January 24, 2025
  • MIL-OSI Australia: Call for information – Traffic offences and vehicle fire – Alice Springs

    Source: Northern Territory Police and Fire Services

    Northern Territory Police Fire and Emergency Services are calling for information after a traffic incident involving a vehicle fire occurred in Alice Springs early Saturday morning.

    Around 2:25am, Joint Emergency Services Communications Centre received reports of a vehicle fire at the Stuart Highway and Wills Terrace intersection.

    CCTV footage reviewed by police showed a silver Holden Commodore travelling outbound on Willis Terrace when it approached the Stuart Highway intersection and a red Holden Commodore contacted the rear of the vehicle, causing the silver Holden to lose control and crash.

    A group of people exited the crashed vehicle and fled the scene on foot.

    The occupants in the red holden commodore then approached the crashed vehicle and began causing further damage before they also fled the scene on foot.

    A short time later, the silver Holden Commodore became engulfed in flames.

    Police and Fire and Rescue Services attended the scene, and the vehicle fire was extinguished.

    A 21-year-old male later approached the officers in attendance and informed them he was the owner and driver of the red commodore.

    He has since been transported to Alice Springs Hospital for treatment and blood testing.

    Police urge anyone with information about the incident to make contact on 131 444 and quote reference NTP2400105383.

    Anonymous reports can be made via Crime Stoppers on 1800 333 000 or through https://crimestoppersnt.com.au/.

    MIL OSI News –

    January 24, 2025
  • MIL-OSI New Zealand: Government to Clarify s70 Discharge Consent to Provide Certainty for Councils and Primary Sector

    Source: New Zealand Government

    The Government has announced its intention to provide certainty on discharge rules under section 70 of the Resource Management Act (RMA) for primary producers, and councils – enabling permitted discharge activities to be managed in a practical way, Agriculture Minister Todd McClay confirmed today.

    “The clarification will be introduced via the second Resource Management Amendment Bill. It will safeguard permitted activities and restore certainty for councils and the primary sector around diffuse discharges.

    “The recent High Court decision threatens to require consents for previously permitted discharges into waterways, imposing costs that would hinder the primary sector’s ability to improve freshwater quality over time,” Mr McClay says.

    “The High Court decision will also significantly increase the consenting workload of councils, affecting clearance timeframes and consent backlogs.

    “The work progressed through the second Resource Management Amendment Bill will provide legal clarity to councils and applicants so that they can plan ahead and ensure that key operations in the primary sector can continue without disruption.

    “Our goal is to produce clear rules that unlock the double dividend of higher growth and productivity alongside positive environmental outcomes.

    “The Government is committed to providing the settings regional councils and the primary sector need to support New Zealand’s economic growth while maintaining environmental standards.”

    MIL OSI New Zealand News –

    January 24, 2025
  • MIL-OSI Australia: The CFA volunteers who love marrying people

    Source: Victoria Country Fire Authority

    The COVID-19 lockdowns led to an exciting and fulfilling change of direction for CFA volunteers and married couple Greg Thorpe and Anne Tammesild.

    Instead of sitting idle, they both completed a Certificate IV in celebrancy, and now get a lot of joy from marrying people – especially fellow CFA volunteers.

    “I retired during the COVID-19 pandemic after being an air traffic controller for 43 years,” Greg said. “Anne saw me getting bored and suggested I find something new to do. I said I wouldn’t mind being a marriage celebrant, and Anne replied that she’d like to do that too.”

    Greg and Anne both completed their certificate IV in about nine months, but because of COVID-19 they weren’t able to get their new business off the ground the way they had hoped.

    Greg and Anne, who live in Hampton, are members of District 8 Headquarters Brigade where they are learning new skills to work in an Incident Control Centre. Before moving to Hampton, Greg had been a firefighter with St Andrews Fire Brigade since 2008, and the impact of the 2009 fires on Greg and those around him prompted him to become a peer in CFA’s Peer Support Program.

    “At St Andrews I got really interested in firefighting and learned a range of skills. Then after 2009 I also wanted to help fellow volunteers, so I trained to be a peer supporter,” Greg said. 

    Greg and Anne love marrying people, and are happy to conduct weddings in addition to having daytime jobs.

    “We aim to do 15 weddings a year in between my part-time job as the manager of emergency management and business continuity across 51 magistrates’ courts, and Anne’s full-time teaching role.”

    Anne became a CFA member about a year ago after many years as a Life Saving Victoria volunteer where she was a district assessor and trainer. She now wants to contribute to the operation of CFA Incident Control Centres.

    Greg and Anne approach a wedding as a team. Although only one celebrant can legally marry a couple, they both attend the wedding.

    “We do it together because we enjoy it so much,” Greg said. “If Anne conducts the ceremony, I’ll be the roadie and set everything up. It brings us a lot of joy. After the wedding, we walk away with a big smile. We’re not in it to make much money but to marry people and make them happy.

    “I see how much work CFA members devote to supporting their communities and we like to give back by marrying them for a reasonable fee. We’re not worried about travelling a long distance to marry CFA people – we just turn the occasion into a weekend away.”

    One happy occasion was when Greg married CFA employee Jacinta McMahon and her partner Tim late last year in their backyard with about 30 guests. Their beloved dog Bundy was the ring bearer.

    Greg and Anne discuss each wedding together and writing the couple’s love story is a joint effort.

    “Having two celebrants who know all the documents and the members of the bridal party means that either of us can conduct the ceremony. If I was sick, Anne could take the ceremony and vice versa. Fortunately, that hasn’t been a problem,” Greg said.

    Submitted by News and Media

    MIL OSI News –

    January 24, 2025
  • MIL-OSI Australia: Serious crash at Kapunda

    Source: South Australia Police

    Police and emergency services are at the scene of a serious crash at Kapunda.

    Just after 2.30pm on Monday 21 October, Police responded to a two car crash on the Thiele Highway.

    South bound traffic out of the Kapunda township is closed and northbound traffic is being diverted down East Terrace.

    Please avoid the area.

    MIL OSI News –

    January 24, 2025
  • MIL-OSI Asia-Pac: FS attends APEC meeting in Peru

    Source: Hong Kong Information Services

    Financial Secretary Paul Chan began his visit in Lima, Peru, to attend the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting and related activities.

    Yesterday morning, he attended the Finance Ministers’ Retreat, a meeting focused on discussing the fiscal policies of economies and several specific topics, including tax administration, promoting quality infrastructure development, and the digital transformation of financial services.

    Mr Chan introduced the latest developments in Hong Kong regarding these topics and specifically shared Hong Kong’s experience in issuing retail bonds to support infrastructure projects that benefit the economy and people’s lives.

    He highlighted that this arrangement allows residents to participate in advancing infrastructure projects, and providing them with a safe, reliable, and stable investment option, while also raising funds for such projects. This approach, Mr Chan pointed out, achieves the dual goals of supporting inclusive finance and infrastructure development.

    He also shared Hong Kong’s progress in promoting the digitalisation of financial services, including ongoing optimisation of the fintech ecosystem, launching regulatory sandboxes to test and promote innovative projects across various financial sectors, and facilitating data sharing between small and medium-sized enterprises and banks to facilitate business lending.

    In the afternoon, while participating in the High Level Event on Sustainable Finance under Finance Ministers’ Meeting, Mr Chan engaged in in-depth discussions with finance ministers on the strategies for the development of sustainable finance and transition finance, governance frameworks and international co-operation.

    The Financial Secretary outlined the Hong Kong Special Administrative Region Government’s emission reduction targets and action strategies set forth in Hong Kong’s Climate Action Plan 2050.

    Additionally, he shared Hong Kong’s latest developments as a leading green finance centre in Asia, including the issuance of green and sustainable bonds, participation in the formulation of relevant international standards and climate disclosure guidelines, talent training, and promoting transition finance to build a thriving green and sustainable finance ecosystem.

    Moreover, he noted that a steering group comprising all financial regulators has been established to drive related efforts.

    What’s more, Mr Chan met Vice Minister of Finance Liao Min as well as several representatives from participating economies, including Peru’s Minister of Economy & Finance José Arista Arbildo, Singapore’s Minister for Transport and Second Minister for Finance Chee Hong Tat and Thai Deputy Minister of Finance Paopoom Rojanasakul to discuss deepening bilateral co-operation and exchange views on common concerns.

    During the bilateral meetings, Mr Chan introduced Hong Kong’s latest economic situation and various policy measures set out in the Policy Address that the Chief Executive delivered last week.

    In the evening, he attended a welcome reception for the Finance Ministers’ Meeting.

    MIL OSI Asia Pacific News –

    January 24, 2025
  • MIL-OSI Asia-Pac: Students’ Study Room and Computer and Information Centre at Yuen Chau Kok Public Library reopened

    Source: Hong Kong Government special administrative region

    Students’ Study Room and Computer and Information Centre at Yuen Chau Kok Public Library reopened
    Students’ Study Room and Computer and Information Centre at Yuen Chau Kok Public Library reopened
    ******************************************************************************************

         A Leisure and Cultural Services Department spokesman announced today (October 21) that the Students’ Study Room and the Computer and Information Centre of Yuen Chau Kok Public Library, closed earlier on for urgent repair works, have been reopened.      For enquiries, please call 2324 2700.

     
    Ends/Monday, October 21, 2024Issued at HKT 13:15

    NNNN

    MIL OSI Asia Pacific News –

    January 24, 2025
  • MIL-OSI: LHV Pank completed the acquisition of part of TBB pank’s credit portfolio

    Source: GlobeNewswire (MIL-OSI)

    AS LHV Pank and AS TBB Pank completed the transaction whereby the LHV Group’s subsidiary acquired a part of TBB Pank’s loan portfolio.

    By today, the transfer of the acquired loan portfolio has been completed, the volume of the acquired portfolio was 19,2 million euros, which may increase by up to 4,3 million euros within the next three months. The transaction concerned a total of 72 clients and the final discount amount was approximately 4 million euros.

    The completed transaction did not significantly impact LHV Pank’s capitalization or liquidity. The transaction can not be considered as a transaction between related parties.

    LHV Group is the largest domestic financial group and capital provider in Estonia. The LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,100 people. As at the end of August, LHV’s banking services are used by 441,000 clients, the pension funds managed by LHV have 118,000 active clients, and LHV Kindlustus protects a total of 168,000 clients. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

    Priit Rum
    Communications Manager
    Phone: +372 502 0786
    Email: priit.rum@lhv.ee 

    The MIL Network –

    January 24, 2025
  • MIL-OSI: Results of the Offering of Unsecured Subordinated Bonds of Bigbank AS

    Source: GlobeNewswire (MIL-OSI)

    The public offering of Bigbank AS (Bigbank) unsecured subordinated bonds (the Offering) ended on Friday, 18 October 2024. It was the third series under Bigbank’s unsecured subordinated bond programme, conducted based on the base prospectus of the subordinated bond programme. Under the programme, Bigbank can raise up to 30 million euros in total.

    During the Offering, up to 3,000 unsecured subordinated bonds, each with a nominal value of EUR 1,000, a maturity date of 23 October 2034, and a fixed interest rate of 6.5% per annum, payable quarterly, were offered by Bigbank. In the event of oversubscription, Bigbank had the right to increase the volume of the Offering by up to 5,000 bonds, bringing the total to a maximum of 8,000 bonds. The Offering was carried out in Estonia, Latvia, and Lithuania.

    789 investors participated in the subscription and submitted subscription orders for the subordinated bonds in the total amount of 8.7 million euros. Therefore, the base issue volume of 3 million euros was oversubscribed by nearly 3 times. Bigbank exercised its right to increase the volume of the Offering, bringing the total volume of the Offering to 5 million euros.

    The Management Board of Bigbank decided to allocate the bonds according to the following principles:

    1. All subscription orders from the same subscriber were summed up;
    2. Subscriptions by investors up to the amount of 30,000 euros were accepted in full;
    3. Employees of companies belonging to Bigbank group were allocated 100% of the amount subscribed;
    4. Investors were allocated 2.75% of the amount subscribed exceeding 30,000 euros;
    5. The number of bonds with decimal places was rounded to the nearest whole number.

    Martin Länts, Chairman of the Management Board of Bigbank, thanked all investors who participated in the public issue for their trust in the bank’s strategy and growth prospects. “The subscription results show that investor confidence in Bigbank’s future plans remains very high, and the interest rate on the bonds offered may have been slightly too high, considering the rapid developments in the interest rate environment over the past month. With the capital raised, Bigbank will be even stronger in implementing its business strategy, planning to continue growing primarily in the housing and corporate loan segments while ensuring compliance with established capital requirements,” commented Martin Länts.

    The Bonds are expected to be transferred to the securities accounts of investors on or around 23 October 2024 and the first trading day of the bonds on the Baltic Bonds List of Nasdaq Tallinn Stock Exchange is expected to be on or around 24 October 2024.

    Bigbank AS (http://www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 30 June 2024, the bank’s total assets amounted to 2.6 billion euros, with equity of 252.8 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 
    http://www.bigbank.ee

    The MIL Network –

    January 24, 2025
  • MIL-OSI Economics: Secretary-General of ASEAN shares key priorities in ASEAN energy sector with Asian Power

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today granted an interview to Asian Power, a quarterly publication for the power generation, transmission and distribution industry in the Asia Pacific region. During the interview, Dr. Kao highlighted ASEAN’s various initiatives in promoting regional energy transition such as the development of the ASEAN Power Grid (APG), which aims to connect the region’s electricity networks to improve energy supply and resilience.

    The post Secretary-General of ASEAN shares key priorities in ASEAN energy sector with Asian Power appeared first on ASEAN Main Portal.

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI China: Beijing’s growing appeal amid city’s pursuit of high-quality development

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

    BEIJING, Oct. 20 — Walking through the Chaoyangmen South and North streets spanning 2.8 km in downtown Beijing, clean streets adorned with delicately designed miniature gardens, well-refurbished restaurants and convenience stores bustle with life as residents bask in the sun on a late autumn day.

    First established in ancient China’s Yuan Dynasty (1271-1368), the streets over 700 years old have defied age by constantly renewing themselves, where businesses are thriving and original residents and newcomers mingle and pursue life and work goals.

    Not far away from the neighborhood is Qianmen, a hotspot for tourists. From here, the attention-catching antique buses called “dang dang che” move slowly as tourists on these buses enjoy learning about the history and culture of the Beijing Central Axis, a newly recognized UNESCO World Heritage Site.

    As the refurbished antique bus travels on its routine path, modern clean-energy double-deckers and dual-carriage buses hurtle by, conjuring up a city image that showcases both the history and modern-day development of Beijing.

    As China’s political and cultural center, the city receives people from around the world for important meetings and its many historical attractions such as the Forbidden City and the Great Wall. But apart from that, the megacity with a population of around 22 million is also one of the most modern, vibrant, and technologically advanced Chinese cities, providing a window to look at and digest the historical changes brought about by economic and social development in China.

    ANCIENT CITY WITH RENEWED IMAGE

    In the Chinese capital, clean energy public buses accounted for nearly 95 percent of the city’s public buses as of the end of 2023, per capita GDP ranked first compared to other Chinese regions and people’s average life expectancy reached 82.51 years in the same cited year, according to data from local authorities.

    For An Zhifeng, a resident living in the Chaoyangmen South and North streets area, her life after retirement focuses on leading a healthy lifestyle. “The streets have become wider and more beautiful now. There are seats everywhere along the streets and we can sit down for some rest after a walk or exercise.”

    An was referring to an already completed urban renewal project for the streets that started at the end of 2023, through which the functions of the streets were analyzed and redesigned by removing traffic barriers that used to be set up to prioritize fast-moving vehicles, setting up new slow-traffic lanes for the passage of pedestrians and bicycles, and renovating municipal facilities to improve the streets’ image and residents’ life quality in the area.

    “Before the renewal, the hutongs were very narrow and residents parked cars in quite a limited space, and they often quarreled for parking. With this newly built multi-level parking facility in our neighborhood, we have more parking lots and it helped strengthen the harmony and unity within our community,” said Jiang Xiuping, another resident.

    Sun Yang, deputy head of the Dongcheng district government, said that the renewal project lasted for nearly a year, and is an example of Beijing’s practice in upholding the “people’s city” concept and responding to the people’s needs.

    The changes in Chaoyangmen South and North streets epitomize city-wide urban renewal projects conducted across various districts based on local conditions. In terms of urban renewal, data from the Beijing municipal government shows that the city has completed the renovation of 565 residential communities from 2021 to 2023, with more such projects being carried out.

    The city also promotes digitalization and green transformation for major projects during urban renewal. For instance, the Liangma River region in eastern Beijing’s Chaoyang district has become a bustling commercial hub for its robust night activities and light shows, while the Beijing South Central Axis Culture and Innovation Park in Fengtai district, once the site of a major clothing wholesale market, has now transformed into a hub where high-tech firms gather.

    GLOBAL HIGH-TECH HUB AMBITION

    Apart from its roles as China’s political, cultural and international exchange centers, the city also aims to become a hub for key engines driving high-quality development as well as a global hub of science and technological innovation.

    The Dongsheng Industrial Park in the city’s Haidian district is a hub where high-tech firms concentrate. “After years of development, Dongsheng Town is now home to nearly 4,000 enterprises, including 1,879 technology enterprises, 16 listed enterprises, and 7 unicorn enterprises…the advantages of large-scale industrial agglomeration are significant,” according to Ren Yiding, deputy mayor of the town.

    With its success in electric mobility products, the Ninebot company based in the park has in recent years developed products such as smart lawn mower robots that meet the user needs in the global market. “The lawnmowers have been exported to European and American markets and are well received, further establishing the Made-in-China brand,” said Gao Lufeng, founder and CEO of Ninebot.

    In the first half of this year, retail sales of its scooters reached 518,100 units and the sales volume of electric motorbikes exceeded 1.2 million units. In addition, sales of all-terrain vehicles stood at 12,100 units, and the emerging business of lawn mowing robots also achieved remarkable results, according to the company’s 2024 half-year report.

    These products enabled the company to realize a net profit growth of 168 percent year on year during the period as its business revenues reached nearly 6.7 billion yuan (about 940 million U.S. dollars), up 52.2 percent, according to the report.

    As an early explorer of computer vision and AI technology applications, Beijing Deep Glint Technology Co., Ltd., also based in the park, has rolled out AI-enabled services that can be used in some sports tests for students. Company founder Zhao Yong said that its AI-enabled system can automatically count students’ sit-ups during the test while recognizing unqualified body moves.

    Zhao said that in May this year, the company’s integrated sports training and test system was applied in many test sites for sixth-grade students who were about to enroll at junior high schools. “In the future, we will use this technology in physical education and promote it nationwide.”

    Data from the municipal government shows that, from January to August this year, investment in high-tech manufacturing and high-tech services grew by 72.7 percent and 19.4 percent year on year, respectively, driven by policies aimed at accelerating the development of new quality productive forces. This surge has fostered deeper integration between technological and industrial innovation, aligning with the national push for new quality productive forces.

    OPTIMIZED PUBLIC SERVICES FOR THE PEOPLE

    The development level in a city is reflected to some extent by the sophistication of its public service system. At the Fengtai District Government Service Center, hundreds of counters occupied by working staff provide varied services for individuals and companies.

    Launched in April 2021, the center has gathered 23 sub-centers in profession categories, which can offer services on more than 1,500 district-level matters, such as establishing a company, property transactions, marriage registration, medical insurance and social security, passports and driving licenses, among others.

    The concentration of these varied services means individuals or companies can settle all their matters at the same place without the need to go to different government venues, which greatly improves efficiency and people’s satisfaction levels.

    Data from the local government shows that over the past five years, the 12345 citizen hotline service has picked up 140 million complaints and inquiries from the public, with 96.5 percent of them settled. The public’s satisfaction rate on the service reached nearly 97 percent.

    Yang Junyao, an employee with 12345, said that the hotline service, first set up as the “mayor hotline” in the 1980s with only one telephone and three operators, has now grown into a center with hundreds of service desks and nearly 1,700 operators.

    The 12345 service, which serves both individuals and companies and offers foreign language services, also relies on Internet portals and other platforms such as WeChat and Weibo in handling inquiries and complaints from the public, with itself becoming a driving force that pushes the modernization of megacity governance by addressing people’s needs.

    MIL OSI China News –

    January 24, 2025
  • MIL-OSI: Sampo plc’s share buybacks 18 October 2024

    Source: GlobeNewswire (MIL-OSI)

    Sampo plc, stock exchange release, 21 October 2024 at 8:30 am EEST

    Sampo plc’s share buybacks 18 October 2024

    On 18 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)
      3,612 41.79 AQEU        
      35,351 41.81 CEUX
      1,257 41.80 TQEX
      49,617 41.81 XHEL
    TOTAL 89,837 41.81  

    *rounded to two decimals                

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

    After the disclosed transactions, the company owns in total 8,952,245 Sampo A shares representing 1.63 per cent of the total number of shares in Sampo plc, taking the issuance of shares on 16 September 2024 into account.

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

    On behalf of Sampo plc,
    Morgan Stanley

    For further information, please contact:

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

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

    Attachment

    • Sampo_share_buyback_18_10_2024

    The MIL Network –

    January 24, 2025
  • MIL-OSI Economics: Premiumization trend reshapes consumer beauty preferences in APAC, says GlobalData

    Source: GlobalData

    Premiumization trend reshapes consumer beauty preferences in APAC, says GlobalData

    Posted in Consumer

    Rising consumer disposable income coupled with the increasing consumer inclination towards high quality ingredients in products is creating demand for premium and ultra-premium products in the Asia-Pacific (APAC). Consumers, especially older ones, are seeking luxury goods to get a superior experience. Moreover, the growing consumer preferences for a healthy grooming routine are enabling them to invest more in beauty products with high quality attributes. These factors are reshaping consumer preferences, which is supporting the growth of the premium cosmetics market in the APAC region, says GlobalData, a leading data and analytics company.

    Naveed Khan, Consumer Analyst at GlobalData, comments: “Premiumization is an emerging trend in the APAC region, which is fueled by changing consumer needs and increasing affinity towards superior quality products. Countries such as China, India, and South Korea registered significant growths in gross disposable income per household in 2023+, supporting the trend. Moreover, the high internet penetration in APAC countries such as South Korea (98.6%) and China (78%) made beauty products more accessible to consumers through e-commerce platforms, benefiting the trend. Additionally, consumers are also seeking quality products with unique and uncommon ingredients that are well researched and have stable formulations.”

    GlobalData 2024 Q2 Consumer Survey* corroborates this trend, where 66% of respondents in Asia & Australasia stated that they find “novel/unique” attributes in product purchases as either essential or nice to have. In the same survey, 34% of respondents stated that they prefer “high quality products/ingredients” in beauty and grooming products.

    In response, manufacturers are using novel and uncommon ingredients to align with consumer preferences. For instance, in October 2023, Bio Essence introduced a Gel Cleanser in Malaysia, containing unique and high-quality ingredients such as 24k bio-gold and nano gold peptide, which provide antioxidant protection, reduce signs of anti-aging, and rejuvenate skin.

    Deepak Nautiyal, Consumer and Retail Commercial Director, APAC and ME at GlobalData, adds: “Young consumers, especially Gen-Z, are preferring quality over quantity and are seeking premium cosmetics. Moreover, the ease of availability of both local and international brands through e-commerce platforms and growing consumer focus on their appearance is boosting the premiumization trend in the region. Furthermore, changing global beauty standards and the growing K-beauty and J-beauty trend that focus on traditional methods and unique ingredients are further fueling the premium products market in the region. As a result, in the past few years, various premium beauty brands such as Charlotte Tilbury and Sulwhasoo have established their base in Asian geographies.”

    American beauty company Coty is also looking to leverage the rising premiumization trend in China to improve its market in the region. In 2023, the company introduced Lancaster Ligne Princiere, an ultra-premium cosmetic product range in the country. It also introduced its premium skincare brand Orveda in the year.

    In 2024, Sisley Paris introduced a high-quality anti-aging cream, Sisleÿa L’Intégral Anti-Age Fresh Gel Cream in Hong Kong. It is claimed to contain quality ingredients such as Alchemilla extract, Lindera extract, Persian acacia extract, apple pip extracts, yeast, and soy protein complex.

    Khan concludes: “Growing consumer inclination towards high quality and premium priced products will offer significant growth opportunities to manufacturers in the region. Moreover, manufacturers must concentrate on introducing products with innovative ingredient combinations in attractive and sustainable packaging to offer the premium appeal capable of attracting consumers.”

    *GlobalData 2024 Q2 Consumer Survey – Asia & Australasia, published in July 2024, included 6,506 respondents

    +GlobalData Macroeconomic Data, accessed on October 15, 2024

    MIL OSI Economics –

    January 24, 2025
  • MIL-Evening Report: Australia’s fertility rate has reached a record low. What might that mean for the economy?

    Source: The Conversation (Au and NZ) – By Jonathan Boymal, Associate Professor of Economics, RMIT University

    BaLL LunLa/Shutterstock

    Australia’s fertility rate has fallen to a new record low of 1.5 babies per woman. That’s well below the “replacement rate” of 2.1 needed to sustain a country’s population.

    On face value, it might not seem like a big deal. But we can’t afford to ignore this issue. The health of an economy is deeply intertwined with the size and structure of its population.

    Australians simply aren’t having as many babies as they used to, raising some serious questions about how we can maintain our country’s workforce, sustain economic growth and fund important services.

    So what’s going on with fertility rates here and around the world, and what might it mean for the future of our economy? What can we do about it?

    Are lower birth rates always a problem?

    Falling fertility rates can actually have some short-term benefits. Having fewer dependent young people in an economy can increase workforce participation, as well as boost savings and wealth.

    Smaller populations can also benefit from increased investment per person in education and health.

    But the picture gets more complex in the long term, and less rosy. An ageing population can strain pensions, health care and social services. This can hinder economic growth, unless it’s offset by increased productivity.

    Other scholars have warned that a falling population could stifle innovation, with fewer young people meaning fewer breakthrough ideas.

    Students sitting at a school assembly
    In the short term, lower birth rates can mean more is able to be spent per-person on services like education.
    Jandrie Lombard/Shutterstock

    A global phenomenon

    The trend towards women having fewer children is not unique to Australia. The global fertility rate has dropped over the past couple of decades, from 2.7 babies per woman in 2000 to 2.4 in 2023.

    However, the distribution is not evenly spread. In 2021, 29% of the world’s babies were born in sub-Saharan Africa. This is projected to rise to 54% by 2100.

    There’s also a regional-urban divide. Childbearing is often delayed in urban areas and late fertility is more common in cities.

    In Australia, we see higher fertility rates in inner and outer regional areas than in metro areas. This could be because of more affordable housing and a better work-life balance.

    But it raises questions about whether people are moving out of cities to start families, or if something intrinsic about living in the regions promotes higher birth rates.

    Fewer workers, more pressure on services

    Changes to the makeup of a population can be just as important as changes to its size. With fewer babies being born and increased life expectancy, the proportion of older Australians who have left the workforce will keep rising.

    One way of tracking this is with a metric called the old-age dependency ratio – the number of people aged 65 and over per 100 working-age individuals.

    In Australia, this ratio is currently about 27%. But according to the latest Intergenerational Report, it’s expected to rise to 38% by 2063.

    An ageing population means greater demand for medical services and aged care. As the working-age population shrinks, the tax base that funds these services will also decline.

    Aged care worker holding the hand of an aged care resident.
    An ageing population can mean more pressure on tax-payer funded services like healthcare.
    Chinnapong/Shutterstock

    Unless this is offset by technological advances or policy innovations, it can mean higher taxes, longer working lives, or the government providing fewer public services in general.

    What about housing?

    It’s tempting to think a falling birth rate might be good news for Australia’s stubborn housing crisis.

    The issues are linked – rising real estate prices have made it difficult for many young people to afford homes, with a significant number of people in their 20s still living with their parents.

    This can mean delaying starting a family and reducing the number of children they have.

    At the same time, if fertility rates stay low, demand for large family homes may decrease, impacting one of Australia’s most significant economic sectors and sources of household wealth.




    Read more:
    No savings? No plans? No Great Australian Dream. How housing is reshaping young people’s lives


    Can governments turn the tide?

    Governments worldwide, including Australia, have long experimented with policies that encourage families to have more children. Examples include paid parental leave, childcare subsidies and financial incentives, such as Australia’s “baby bonus”.

    Many of these efforts have had only limited success. One reason is the rising average age at which women have their first child. In many developed countries, including Australia, the average age for first-time mothers has surpassed 30.

    As women delay childbirth, they become less likely to have multiple children, further contributing to declining birth rates. Encouraging women to start a family earlier could be one policy lever, but it must be balanced with women’s growing workforce participation and career goals.

    Research has previously highlighted the factors influencing fertility decisions, including levels of paternal involvement and workplace flexibility. Countries that offer part-time work or maternity leave without career penalties have seen a stabilisation or slight increases in fertility rates.

    Mother with small baby working from homeoffice, typing on laptop
    Any solutions to falling fertility rates must balance other important factors such as women’s increased workforce participation.
    Halfpoint/Shutterstock

    The way forward

    Historically, one of the ways Australia has countered its low birth rate is through immigration. Bringing in a lot of people – especially skilled people of working age – can help offset the effects of a low fertility rate.

    However, relying on immigration alone is not a long-term solution. The global fertility slump means that the pool of young, educated workers from other countries is shrinking, too. This makes it harder for Australia to attract the talent it needs to sustain economic growth.

    Australia’s record-low fertility rate presents both challenges and opportunities. On one hand, the shrinking number of young people will place a strain on public services, innovation and the labour market.

    On the other hand, advances in technology, particularly in artificial intelligence and robotics, may help ease the challenges of an ageing population.

    That’s the optimistic scenario. AI and other tech-driven productivity gains could reduce the need for large workforces. And robotics could assist in aged care, lessening the impact of this demographic shift.

    The Conversation

    The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Australia’s fertility rate has reached a record low. What might that mean for the economy? – https://theconversation.com/australias-fertility-rate-has-reached-a-record-low-what-might-that-mean-for-the-economy-241577

    MIL OSI Analysis – EveningReport.nz –

    January 24, 2025
  • MIL-OSI Economics: APAC companies add $550 billion in MCap in Q3 2024, driven by China’s stimulus and strong regional demand, reveals GlobalData

    Source: GlobalData

    APAC companies add $550 billion in MCap in Q3 2024, driven by China’s stimulus and strong regional demand, reveals GlobalData

    Posted in Business Fundamentals

    The Asia-Pacific (APAC) region experienced a significant surge in market capitalization (MCap), with the top 50 companies gaining $550 billion in the third quarter (Q3) of 2024. This growth was fueled by China’s fiscal stimulus, strong domestic demand in India and Southeast Asia, and better-than-expected corporate earnings, underscoring the region’s resilience amid global uncertainties, reveals a study by GlobalData, a leading data and analytics company.

    At the end of Q3 2024, the combined market value of the companies in the technology sector reached $3.3 trillion, while those in the financial services sector totaled $527.4 billion. Among the top 50 companies, 19 companies were from the technology sector. In terms of geographic distribution, 19 were based out of China, 15 from Japan, and seven from India.

    Murthy Grandhi, Business Fundamentals Analyst at GlobalData, comments: “Asian stocks surged in late September following the announcement of a comprehensive stimulus package by the Chinese policymakers. While individual measures such as interest rate cuts and reduced downpayment requirements for home purchases have been introduced over the past year, the coordinated nature of September’s initiative marked the strongest indication, yet Beijing is committed to bolster the Chinese economy and stabilize the stock markets.

    “The Bank of Japan’s July rate hike, coupled with Governor Ueda Kazuo’s signals of further increases, was swiftly followed by weak US labor market data. As the interest rate gap between the US and Japan narrowed, the Japanese yen strengthened significantly, triggering a rapid unwinding of many ‘carry trades’ that had benefited from low Japanese borrowing costs. A more reassuring stance from BoJ officials later helped Japanese stocks recover some of their losses.”

    Companies that witnessed significant gains include Chinese food-delivery giant Meituan, which experienced more than 50% quarter-on-quarter (QoQ) growth in its market capitalization owing to the stronger-than-expected quarterly results and share buyback announcement.

    Alibaba Group’s market valuation soared by 46.2% during the quarter, following the announcement of the completion of a three-year regulatory “rectification” process. This development came after the company was fined for monopolistic practices in 2021 as part of an antitrust investigation.

    The shares of China Life Insurance saw a 46.1% increase in market capitalization, driven by the company’s strong interim financial results.

    Grandhi adds: “The Chinese constituents in the top 50 APAC companies list witnessed a 18% increase in market value, driven by the announcement of China’s fiscal stimulus package. Oil majors CNOOC and PetroChina experienced market capitalization loss of 12.3% and 10.3%, respectively, owing to slump in crude oil prices.”

    Chipmakers SK Hynix and Samsung Electronics experienced significant declines in market value, dropping by 22.2% and 20.1%, respectively. These losses reflect concerns over a potential oversupply in the market, despite the low probability of this occurring.

    Additionally, Samsung is facing challenges in maintaining its lead in high-bandwidth memory (HBM) chips, a crucial component in AI processors, as domestic competitor SK Hynix’s latest HBM products are reportedly undergoing testing for possible integration into processors from leading AI-chip maker Nvidia.

    Grandhi concludes: “Into Q4 2024, APAC companies could be keenly keeping an eye on the monetary policies of their respective countries, with interest rates likely to be cut down, albeit not to extend of the recent US Fed rate cuts. Additionally, the ongoing Middle East crisis could disrupt the market, affecting investor confidence and business strategies. However, APAC’s resilience, driven by innovation and supply chain strengthening, will help them in navigating these uncertainties and in sustaining the growth story.”

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI Economics: Goldman Sachs and Rothschild & Co top M&A financial advisers in South & Central America during Q1-Q3 2024, finds GlobalData

    Source: GlobalData

    Goldman Sachs and Rothschild & Co top M&A financial advisers in South & Central America during Q1-Q3 2024, finds GlobalData

    Posted in Business Fundamentals

    Goldman Sachs and Rothschild & Co were the top mergers and acquisitions (M&A) financial advisers in the South & Central American region during the first three quarters (Q1-Q3) of 2024 by value and volume, respectively, according to the latest Financial Advisers League Table, which ranks legal advisers by the value and volume of mergers and acquisition (M&A) deals on which they advised, by GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Deals Database reveals that Goldman Sachs achieved the leading position in terms of value by advising on $2.5 billion worth of deals. Meanwhile, Rothschild & Co led in terms of volume by advising on a total of eight deals.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Rothschild & Co registered growth in the total number of deals advised by it during Q1-Q3 2024 compared to Q1-Q3 2023. Resultantly, its ranking by volume also improved from fifth position during Q1-Q3 2023 to the top position during Q1-Q3 2024. Apart from leading by volume, Rothschild & Co also occupied the second position by value during Q1-Q3 2024.

    “Meanwhile, Goldman Sachs was also the top adviser by value during Q1-Q3 2023. However, it registered a significant fall in the total value of deals advised by it during Q1-Q3 2024 compared to Q1-Q3 2023. Despite the decline, it still managed to retain its leadership position by value. Apart from leading by value, Goldman Sachs also occupied the third position by volume during Q1-Q3 2024.”

    Rothschild & Co occupied the second position in terms of value by advising on $1.9 billion worth of deals, followed by Bank of America with $1.9 billion, UBS with $1.5 billion, and JP Morgan with $1.5 billion.

    Meanwhile, UBS occupied the second position in terms of volume with eight deals, followed by Goldman Sachs with four deals, JP Morgan with three deals, and Morgan Stanley with three deals.

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI Economics: Clifford Chance and Skadden, Arps, Slate, Meagher & Flom top M&A legal advisers in South & Central America during Q1-Q3 2024, finds GlobalData

    Source: GlobalData

    Clifford Chance and Skadden, Arps, Slate, Meagher & Flom top M&A legal advisers in South & Central America during Q1-Q3 2024, finds GlobalData

    Posted in Business Fundamentals

    Clifford Chance and Skadden, Arps, Slate, Meagher & Flom were the top mergers and acquisitions (M&A) legal advisers in the South & Central American region during the first three quarters (Q1-Q3) of 2024 by value and volume, respectively, according to the latest Legal Advisers League Table, which ranks legal advisers by the value and volume of mergers and acquisition (M&A) deals on which they advised, by GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Deals Database reveals that Clifford Chance achieved the leading position in terms of value by advising on $6.7 billion worth of deals. Meanwhile, Skadden, Arps, Slate, Meagher & Flom led in terms of volume by advising on a total of five deals.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “It is interesting to note that Skadden, Arps, Slate, Meagher & Flom registered a decline in the number of deals advised by it but still experienced improvement in ranking by volume during Q1-Q3 2024 compared to Q1-Q3 2023.

    “Meanwhile, Clifford Chance registered a massive jump in the total value of deals advised by it during Q1-Q3 2024 compared to Q1-Q3 2023. Resultantly, its ranking by value also jumped significantly from 39th position during Q1-Q3 2023 to the top position during Q1-Q3 2024.”

    McCarthy Tetrault occupied the second position in terms of value by advising on $6.1 billion worth of deals, followed by Skadden, Arps, Slate, Meagher & Flom with $2.3 billion, Mayer Brown with $1.9 billion, and Tauil & Chequer Advogados with $1.9 billion.

    Meanwhile, Simpson Thacher & Bartlett occupied the second position in terms of volume with five deals, followed by Posse Herrera & Ruiz Abogados with five deals, Cuatrecasas with four deals, and Demarest Advogados with four deals.

    MIL OSI Economics –

    January 24, 2025
  • MIL-OSI Australia: General anti-avoidance rules and PSI

    Source: Australian Department of Revenue

    Overview of general anti-avoidance rules

    This information is relevant to you if both of the following apply:

    • you receive personal services income (PSI) as a sole trader or through your company, partnership or trust
    • the PSI rules don’t apply to your income because you are carrying on a personal services business (PSB).

    The PSI rules were introduced to prevent the diverting, alienating or splitting of income with other individuals or entities in an attempt to pay less tax.

    The general anti-avoidance rules (GAAR) may still apply if you are a PSB and the PSI rules don’t apply. For the GAAR to apply to your arrangement, there must be a sole or dominant purpose to obtain a tax benefit.

    When the GAAR may apply

    The GAAR may apply where there are factors indicating that the dominant purpose of the arrangement is to obtain a tax benefit by diverting, alienating or splitting your PSI or retaining profits in your lower-taxed company, partnership or trust (being an interposed entity).

    In deciding whether the PSB has engaged in income splitting to gain a tax benefit, the following considerations may be relevant:

    • Whether the salary or wages paid to you is commensurate with
      • the skills you exercised or services you provided, and
      • the income received by the PSB for your services.
    • Remuneration commensurate to the value of your services will generally be the gross amount received by the PSB for your services, less allowable deductions (other than deductions associated with non PSI income of the PSB or income splitting).
    • Whether the PSB distributes income to associates and does not distribute income to you, the individual who provided the actual services.
    • Whether the salary or wages paid to associates by the sole trader or PSB is not commensurate with
      • the skills exercised and services provided by the associate, and
      • the income received by the sole trader or PSB is for services performed by the individual (which is different to income being generated by assets of an interposed entity).

    Examples include if you:

    • use a company, partnership, or trust to retain profits from your PSI
    • divert, alienate or split your PSI with an associate – which reduces your overall income tax liability, or
    • create an entitlement to deductions which would not be available to an individual providing the same services as an employee.

    Example: when the GAAR may apply

    Jason provides services as a computer analyst through his trust, JB Trust. Jason’s wife and children are also beneficiaries of JB Trust. The contract price for Jason’s services is $120,000.

    Through the income year, Jason is paid a salary of $50,000 by JB Trust to perform his services. JB Trust also incurs $25,000 of deductions. The balance of $45,000 is distributed to Jason’s wife and children, who are in the lowest marginal tax rate.

    The JB Trust self-assesses as a PSB due to passing the results test. The PSI rules don’t apply to the income. The GAAR may apply to the arrangement JB Trust has in place, as Jason may be obtaining a tax benefit by splitting the income with his associates.

    If the GAAR applied, then the tax benefits would be cancelled. This is done by making a determination, and relevant amounts would be deemed to be included in Jason’s assessable income.

    End of example

    The GAAR Panel advises on the application of the GAAR to particular arrangements.

    Draft Practical Compliance Guideline (PCG 2024/D2)

    A draft Practical Compliance Guideline (PCG 2024/D2) is currently being finalised. The draft Guideline outlines the types of alienation arrangements that we consider to be of ‘low’ or ‘higher’ risk of the general anti-avoidance provisions of income tax law (Part IVA) applying and the likelihood of us reviewing those arrangements.

    For more information, visit PCG 2024/D2 Personal services businesses and Part IVA of the Income Tax Assessment Act 1936.

    MIL OSI News –

    January 24, 2025
  • MIL-OSI New Zealand: Police appealing for information following sudden death in Dunedin

    Source: New Zealand Police (National News)

    Dunedin Police investigating the sudden death of a cyclist are appealing for information from the public.

    At around 3.30pm on Sunday 20 October, Police were notified of an incident where a cyclist had been found deceased on Portobello Road.

    Police would like to speak to anyone who may have seen the cyclist in the Portobello and Taiaroa Head areas between 2pm and 4pm.

    The cyclist was wearing black and grey bike shorts, a blue t-shirt with a bright yellow ‘EUROBIKE’ logo on the back with a black long sleeve polypropylene underneath.

    The cyclist was also wearing an orange bicycle helmet and was using a silver road bike with blue front forks.

    The death has been referred to the Coroner.

    If you have information that could assist Police in our investigation, please contact us online at 105.police.govt.nz, clicking “Update Report” or call 105.

    Please use the reference number 241021/8589.

    ENDS

    Issued by Police Media Centre

    MIL OSI New Zealand News –

    January 24, 2025
  • MIL-OSI: RIBER secures order for MBE 49 GaN system in Europe

    Source: GlobeNewswire (MIL-OSI)

    Bezons (France), October 21, 2024 – 8:00am (CET) – RIBER, the global leader for Molecular Beam Epitaxy (MBE) equipment serving the semiconductor industry, announces the sale of an MBE 49 GaN production system to a European manufacturer.

    This European customer has invested in the MBE 49 system to enhance its capacity for producing advanced gallium nitride (GaN) components, which are essential for next generation of high-brightness and low-energy displays. The MBE 49 GaN system is specifically configured for Plasma-Assisted GaN epitaxy on 200mm Silicon wafers, offering a cutting-edge solution for manufacturing AlGaN and InGaN devices.

    RIBER’s MBE technology stands out due to its lower growth temperature for high-indium-content InGaN, precise control over nanowire formation, minimal residual doping, and enhanced p-type doping capabilities – crucial factors in optimizing technology performance.

    The RIBER MBE 49 system is fully automated and powered by the advanced Crystal XE process control software. It integrates in-situ instrumentation tools that enable precise monitoring and control, ensuring high-quality epitaxial growth processes. This technology is fully compatible with 200mm Silicon wafers.

    This order underscores the critical role of European collaboration in propelling the semiconductor industry forward, reinforcing Europe’s position as a hub for micro and nanoelectronics innovation.

    This order will be delivered in 2025.

     

    About RIBER

    Founded in 1964, RIBER is the global market leader for MBE – molecular beam epitaxy – equipment. It designs and produces equipment for the semiconductor industry and provides scientific and technical support for its clients (hardware and software), maintaining their equipment and optimizing their performance and output levels.
    Accelerating the performance of electronics, RIBER’s equipment performs an essential role in the development of advanced semiconductor systems that are used in numerous applications, from information technologies to photonics (lasers, sensors, etc.), 5G telecommunications networks and research including the field of quantum computing.
    RIBER is a BPI France-approved innovative company and is listed on the Euronext Growth Paris market (ISIN: FR0000075954).
    http://www.riber.com

    Contacts

    RIBER : Annie Geoffroy| tel: +33 (0)1 39 96 65 00 | invest@riber.com

    CALYPTUS : Cyril Combe | tel: +33 (0)1 53 65 68 68 | cyril.combe@calyptus.net

    Attachment

    • 2024 10 16 RIBER_order MBE 49 GaN _E

    The MIL Network –

    January 24, 2025
  • MIL-OSI Asia-Pac: “M” Mark status awarded to Prudential Hong Kong Tennis Open

    Source: Hong Kong Government special administrative region

    “M” Mark status awarded to Prudential Hong Kong Tennis Open
    “M” Mark status awarded to Prudential Hong Kong Tennis Open
    *********************************************************************

    The following is issued on behalf of the Major Sports Events Committee:      The Major Sports Events Committee (MSEC) has awarded “M” Mark status to Prudential Hong Kong Tennis Open, which will be held at the Victoria Park Tennis Court from October 26 to November 3.      The Chairman of the MSEC, Mr Wilfred Ng, said today (October 21), “We are very pleased to award the ‘M’ Mark status to the Prudential Hong Kong Tennis Open. This international event attracts numerous world-class players to compete in Hong Kong each year. It is a grand occasion for the tennis community and provides them with exciting matches and unforgettable experiences. It also serves as a good opportunity to promote tourism and the economy in Hong Kong, enhancing the city’s established professional status in the international sports arena.”      The “M” Mark System aims to encourage and help local “national sports associations” and private or non-government organisations to organise more major international sports events and nurture them into sustainable undertakings. Sports events meeting the assessment criteria will be granted “M” Mark status by the MSEC. Funding support will also be provided to some events.      For details of “M” Mark events, please visit http://www.mevents.org.hk.

     
    Ends/Monday, October 21, 2024Issued at HKT 14:00

    NNNN

    MIL OSI Asia Pacific News –

    January 24, 2025
  • MIL-OSI United Kingdom: ‘Helpful insight’ into issues of static fishing gear and safety tips

    Source: United Kingdom – Executive Government & Departments

    Hazards relating to poorly marked equipment, and consideration of how these can be avoided, feature in a new report and safety leaflet for fishers.

    The Static Fishing Gear Safety Working Group Report 2024 dives into the problems relating to the marking and rigging of static fishing gear (fishing equipment that is set in place and does not move), UK regulations, and what can be improved.

    The report was produced by the Static Fishing Gear Safety Working Group, a sub-group of the MCA’s United Kingdom Safety of Navigation Committee, which is made up of industry representatives, government representatives and subject matter experts.

    The report identifies two main hazards associated with this equipment. The first is the use of floating rope on or near the water’s surface, instead of leaded or weighted, posing a risk to nearby vessels with propellers. The second is the failure to use a buoy, or similar, to visually alert other vessels that static fishing gear is in use in the area.

    UK and Scottish legislation is considered in the report, and a number of recommendations are made, to improve awareness and visibility of static fishing gear.

    A safety leaflet attached to the report provides guidance on best practice for the marking of static fishing gear, and ways to improve its visibility to reduce the risk of entanglement. The simple guidelines are visually presented for ease of use.

    MCA Assistant Director for UK Technical Services Navigation Richard Bell said:

    This report gives a helpful insight into the issues around static fishing gear and what can be done to mitigate safety risks. There is no overnight solution to the issues raised, but we hope this report raises awareness with a view to improving safety.

    Our priority, both here at the MCA and UKSON, will always be the safety of mariners users, and we hope the safety leaflet encourages fishers to follow or maintain best practice when it comes to static fishing gear.

    Here you can access the Static Fishing Gear Safety Working Group Report 2024 and the Static Fishing Gear: Design of ends safety guidance leaflet.

    Press office

    Email public.relations@mcga.gov.uk

    Press enquiries (Monday to Friday, 9am-5pm) 0203 817 2222

    Outside these hours or on bank holidays and weekends, for media enquiries ONLY, please send an email outlining your query and putting #Urgent in the subject title.

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    Updates to this page

    Published 21 October 2024

    MIL OSI United Kingdom –

    January 24, 2025
  • MIL-OSI USA: Statement from Deputy Press Secretary Sabrina Singh on Secretary of Defense Lloyd J. Austin III’s Visit to Ukraine

    Source: United States Department of Defense

    Secretary of Defense Lloyd J. Austin III arrived in Ukraine today to meet with Ukrainian leaders and reiterate the support of the United States for Ukraine’s fight for freedom. This is the Secretary’s fourth visit to Ukraine as Secretary of Defense. 

    During his engagements, the Secretary will meet with Ukrainian leadership and underscore the U.S. commitment to providing Ukraine with the security assistance it needs to defend itself from Russian aggression on the battlefield. 

    At the conclusion of his visit, the Secretary will deliver a speech that will highlight how Ukraine has skillfully fought back against Putin’s war of choice, U.S. commitment to ensuring Ukraine’s armed forces have the battlefield capabilities they need, and why Ukraine’s fight matters for U.S. security. 

    Since April 2022, the Secretary has convened the Ukraine Defense Contact Group on a near monthly basis—a coalition of some 50 countries from around the globe determined to help Ukraine fight against Putin’s aggression. And together, the nations of the UDCG have provided billions of dollars of security assistance for Ukraine—and helped pave the way to build the future force and the industrial base that will enable Ukraine to deter Russian aggression into the future.

    MIL OSI USA News –

    January 24, 2025
  • MIL-OSI Australia: (WIP) Government support for security of payment reform in Victoria

    Source: Allens Insights

    Moving towards a streamlined and uniform payment regime for the Victorian construction sector 5 min read

    The Victorian Parliament has expressed its support for many significant reforms to the Building and Construction Industry Security of Payment Act 2002 (Vic) (SOPA).

    On 17 October 2024, the Victorian Government tabled a report containing its response to the Parliamentary Inquiry into the state of payments in the Victorian construction industry (Report). The Report demonstrates broad government support for many of the Inquiry’s key recommendations.

    In this Insight, we consider some of the key reforms that are likely to soon become law.

    Background and context

    In March 2023, the Victorian Legislative Assembly launched an inquiry into the state of payments in the Victorian construction industry.

    A key focus of the Inquiry was the operation of the SOPA. The SOPA provides contractors and subcontractors in the construction industry with a statutory cause of action through which they can claim payment in a timely and efficient manner.

    In January 2024, we published an Insight examining the reforms proposed by the Parliamentary Inquiry. With the Victorian Government having expressed support for many of these reforms, it is clear that significant changes are on the horizon. These proposed reforms point to an intention to streamline the Victorian SOPA regime and align it with other states, while maintaining the ability for contractors and subcontractors to receive timely payment for work.

    Proposed reforms

    Of the 28 recommendations considered in the Report, the following 8 warrant particular attention, given Government support for their reform and their potential impact on participants in the construction industry.

    The government plans to introduce amendments to the SOPA that will repeal sections 10-10B of the Act, which prevent ‘excluded amounts’ from being taken into account when calculating progress payment entitlements. ‘Excluded amounts’ include many types of claims that commonly arise on construction projects, including damages relating to latent conditions, damages for breach of contract, time-related costs and changes in regulatory requirements. Victoria’s excluded amount provisions are inconsistent with SOP legislation in every other Australian jurisdiction. This regime has had several consequences that have undermined achievement of the SOPA’s key objectives, with such shortcomings including:

    • increasing cost and complexity of adjudication proceedings;
    • reducing the overall amount of money that can be recovered through the SOPA’s adjudication process;
    • excluding retention monies from consideration in adjudications; and
    • jeopardising the recovery of any adjudicated amount as a debt where the adjudication includes any excluded amount.

    Like the ‘excluded amount’ regime, the reference date provisions of SOPA are unique to Victoria. The calculation of reference dates can often be difficult and require legal advice to correctly identify them. These provisions can also facilitate unfair and unethical practices by which some builders and head contractors can prevent payment claims from being made by strategically invoking termination clauses prior to a reference date. By removing the concept of reference dates from Victoria’s SOPA, the government aims to bring the regime in line with NSW.

    Noting that the construction industry traditionally shuts down over the Christmas period, the SOP legislation in other states contains a blackout period during which time stops running. Currently, Victoria is the only jurisdiction not to exclude an extended Christmas shutdown period from the definition of ‘business days’. The government has now indicated its full support for an extended blackout period from 22 December-10 January, which should ensure that those who work with SOP claims can have a much-needed break over the holiday period.

    Construction contracts often include time-bar provisions that operate to bar a contractor from receiving a payment entitlement on the basis that a notice claiming the payment was not submitted within the timeframe or in the form specified by the contract. The government has indicated its support for a new provision (modelled on s16 of the WA SOP legislation) which allows for an adjudicator or other decision-maker to declare that a time-bar provision is unfair if compliance with it is onerous or not reasonably possible. This is justified on the basis that giving a decision-maker the power to determine, on a case-by-case basis, whether a notice-based time bar is unreasonable is preferable to trying to legislate any blanket prohibition. However, if a time-bar provision is declared ‘unfair’, that declaration will only affect the particular entitlement under the contract that is subject to the proceedings, but will not be binding on the same time-bar provision in another contract, or even on the same contract concerning another entitlement.

    The government has indicated support for amending the SOPA to enact regulations that expressly prohibit other contractual clauses and so render them of no effect. In enacting these reforms, the government aims to ensure its regulations can keep pace with evolving contractual practices in the construction industry.

    Due to the unequal bargaining power between parties up and down the contractual chain, lengthy payment terms are often imposed on subcontractors. To address this concern, the government has indicated its support to amend s12 of the SOPA to provide that payment under a construction contract becomes due and payable:

    • on the date set by the terms of the contract, subject to the payment term not exceeding 25 business days after the payment claim has been made; or
    • if the contract makes no express provision, 10 business days after the claim is made.

    Adopting provisions from Western Australia’s recently rewritten SOP framework, the Victorian Government is supporting amendments to SOPA that will allow service in relation to payment claims to be made electronically, such as via email.

    Without deciding on a model, the government has indicated in-principle support for processes that safeguard progress payments and retention monies from being wrongly withheld or misapplied by those higher up the contracting chain. While a range of trust models were considered, including those adopted by QLD, NSW and WA, and the Murray model (a cascading deemed statutory trust) which is yet to be adopted by an Australian jurisdiction, it ultimately decided further examination was necessary before it could decide on an appropriate trust model. However, it committed to undertaking further work towards the implementation of a trust model, and that it would need to engage in further consultation with relevant stakeholders before any specific amendments were made.

    Next steps

    The government is yet to publish a timeline for introducing legislation to give effect to these reforms. However, given the strong support for many of the reforms proposed by the Parliamentary Inquiry, we expect to see appropriate legislation enacting these reforms in the short to medium term.

    If you would like to discuss the issues raised in this Insight, please contact us below.

    MIL OSI News –

    January 24, 2025
  • MIL-OSI Russia: The government will allocate 300 million rubles for the purchase of equipment for a children’s clinical hospital in Khabarovsk Krai

    MILES AXLE Translation. Region: Russian Federation –

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

    Medical equipment will be purchased for the A.K. Piotrovich Children’s Regional Clinical Hospital in Khabarovsk. The order to allocate 300 million rubles for these purposes was signed by Prime Minister Mikhail Mishustin.

    Financing from the Government’s reserve fund will make it possible to purchase about 50 units of various equipment, including a spiral computed tomography scanner, a magnetic resonance imaging scanner, as well as endosurgical video systems, X-ray navigation systems, and anesthesiology and resuscitation equipment.

    The signed order is part of the work to implement the instructions of Mikhail Mishustin, which he gave following his working visit to the Far Eastern and Siberian Federal Districts. It took place in July 2024. While in Khabarovsk, the Prime Minister visited the A.K. Piotrovich Children’s Regional Clinical Hospital and, during a conversation with the staff of the medical institution, asked to prepare the necessary documents for additional equipment of the hospital.

    The document will be published.

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

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

    http://government.ru/nevs/53060/

    MIL OSI Russia News –

    January 24, 2025
  • MIL-OSI China: China expands elderly care services with focus on community-based solutions

    Source: China State Council Information Office 2

    China had a total of 410,000 elderly care institutions and facilities at the end of the second quarter this year, the Ministry of Civil Affairs said on Monday.
    Of these, 369,000 were community-based elderly care facilities, reflecting a marked increase compared to 2019, when the numbers were roughly half their current levels, according to the ministry.
    Specifically, the number of elderly care institutions has doubled, while that of community-based care facilities has grown by 120 percent over the same period.
    The progress comes as China has been significantly expanding its elderly care services over recent years, with a particular emphasis on the development of at-home and community-based care. With its rapidly aging population, the country is under increasing pressure to provide sufficient care for its elderly citizens.
    Official data show that there were 297 million people aged 60 and above in the country at the end of 2023, accounting for 21.1 percent of the total population. The number of people aged 65 and above reached 217 million, or 15.4 percent of the total.

    MIL OSI China News –

    January 24, 2025
  • MIL-OSI China: Forest food industry takes root under China’s canopy

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

    China’s forest food production has surpassed 200 million metric tons — about 140 kilograms per person — annually, making it the nation’s third-largest agricultural product after grains and vegetables, the National Forestry and Grassland Administration said on Friday.

    The country’s forest food production capacity is growing, with 46.7 million hectares dedicated to economic forest plantations and over 40 million hectares of forest land used for understory industries, according to Wang Junzhong, director of the administration’s reform and development department.

    “This enhances the stability of China’s food supply and provides a strong foundation for food security,” Wang said.

    Forest food products include edible oils, red dates, pine nuts and specialty products such as mushrooms and ginseng. More than 2,400 of China’s 2,800 counties have economic forests, with their combined annual output value surpassing 2 trillion yuan ($281.6 billion). Understory economic activities, such as growing mushrooms, generate another 1 trillion yuan annually, benefiting millions of forest farmers.

    In the Xinjiang Uygur autonomous region, where abundant sunshine supports forest fruit farming, 1.4 million hectares of land yield 14 million tons of forest fruit annually, with red dates being a major product.

    “This year, Xinjiang established 16 red date demonstration gardens, and the average yield per hectare has reached as much as 12 tons, with an income exceeding 44,700 yuan per hectare,” said Cai Lixin, chief economist at Xinjiang’s forestry and grassland bureau.

    In Jilin province, the ginseng industry is booming, with 77,000 hectares devoted to planting the herb, yielding over 780 tons annually. The industry is valued at close to 10 billion yuan.

    “Changbai Mountain ginseng has high national brand recognition, and the province has developed more than 1,000 ginseng-related products,” said Li Dongyou, deputy director of the Jilin Provincial Forestry and Grassland Bureau.

    “For 15 to 20-year-old larch tree forests, we manage the canopy to maintain sunlight levels favorable for both tree maturation and ginseng growth,” Li explained.

    MIL OSI China News –

    January 24, 2025
  • MIL-OSI: Resolutions of the General Extraordinary Shareholders Meeting of INVL Technology

    Source: GlobeNewswire (MIL-OSI)

    The resolutions of the General Extraordinary Shareholders Meeting (hereinafter – “the Meeting“) of special closed-ended type private equity investment company INVL Technology (hereinafter – “the Company”) that was held on 21 October 2024:

    1. Regarding the election of an auditor to carry out the audit of the annual financial statements and setting conditions of payment for audit services.

    Considering that PricewaterhouseCoopers, UAB has audited the Company for 10 years and, in accordance with the requirements of Regulation (EU) No. 537/2014 of the European Parliament and of the Council, can no longer continue to provide audit services, it is decided to:

    1.1.   Based on the results of the Company’s surveys of audit firms and the recommendation provided by the audit committee, to appoint BDO Auditas ir Apskaita, UAB, as the Company’s audit firm for the audit of the Company’s annual financial statements for the years 2024, 2025, and 2026, and for the assessment of the Company’s management reports.

    1.2.   To authorize the person appointed by the Management Company to sign the audit services contract, according to which the payment for the audit of the financial statements for the three financial years and the evaluation of the management reports will be the price agreed by the parties, but not exceeding 52,500 euros (excluding VAT) for the entire three-year period.

    1.3.   To stipulate that the Board of the Management Company reserves the right to increase the remuneration of the audit company by no more than 25 percent of the total remuneration approved by this decision if the scope of audit work changes significantly.

    The person authorized to provide additional information:
    Kazimieras Tonkūnas
    INVL Technology Managing Partner
    E-mail k.tonkunas@invltechnology.lt

    The MIL Network –

    January 24, 2025
  • MIL-OSI China: ​Universal Beijing Resort joins Wuzhen Theater Festival

    Source: China State Council Information Office 3

    Universal Beijing Resort has expanded its presence beyond its theme park borders to the 11th Wuzhen Theater Festival, showcasing its popular characters in the festival’s carnival segment.

    Iconic characters from Universal Beijing Resort and dancers perform at the opening of the 11th Wuzhen Theater Festival’s carnival segment in Tongxiang, Zhejiang province, Oct. 17, 2024. [Photo courtesy of Universal Beijing Resort]

    Universal Beijing Resort has brought Minions Bob and Kevin from Illumination Entertainment, along with Puss in Boots and King Julien from DreamWorks Animation, to the annual theater event in the ancient water town of Wuzhen, Zhejiang province. This crossover experience began at the festival’s opening Thursday, where the characters danced to upbeat music alongside performers and spectators.

    The special carnival performance by Universal Beijing Resort will take place several times a day at Shitian Square during the festival, which runs from Oct. 17 to 27. Spectators and tourists can join the festivities, and the Minions and King Julien will also appear at meet-and-greet events. Additionally, the resort will display an exhibition wall, screen an official documentary and offer free merchandise.

    An exhibition wall showcases Universal Beijing Resort attractions during the 11th Wuzhen Theater Festival in Tongxiang, Zhejiang province, Oct. 17-27, 2024. [Photo courtesy of Universal Beijing Resort]

    In a statement released on Oct. 17, the resort said the carnival extravaganza and crossover integration would allow visitors to experience the allure of its blockbuster world and immersive entertainment up close. The resort also pledged to continue expanding its creative boundaries, appeal to young visitors and inject momentum into the integration of diverse cultures.

    MIL OSI China News –

    January 24, 2025
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