Category: KB

  • MIL-OSI China: China, Nordic countries see expanding trade cooperation

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

    BEIJING, Oct. 15 — China and Nordic countries have broadened their trade and economic cooperation in recent years, with expanded scale and improved quality, the Ministry of Commerce said Tuesday.

    During the first eight months of this year, trade volume between China and five Nordic countries, including Finland, Norway, Iceland, Sweden and Denmark, reached 35.44 billion U.S. dollars, up 5.7 percent year on year, Wang Yupeng, a commerce ministry official, told a press conference in Beijing.

    Wang said that high value-added products such as computers, communication equipment, pharmaceuticals, ships, autos and their parts constituted the mainstay of bilateral trade.

    Given the current momentum, annual trade between China and the five Nordic countries is expected to exceed 50 billion U.S. dollars this year, Wang said.

    For China, the Nordic countries are important sources of foreign investment and destinations for outbound investment, official data showed.

    The cumulative direct investment from the five Nordic countries in China has exceeded 15 billion U.S. dollars so far. In the first eight months of this year, China’s direct investment in these countries amounted to approximately 1 billion U.S. dollars, accounting for over one-fifth of China’s total investment in Europe.

    “We look forward to working with the Nordic countries to uphold the multilateral trading system with the World Trade Organization at its core, maintain the stability of the China-Europe industrial and supply chains, and jointly oppose protectionism in the field of trade and investment,” Wang said.

    The 2024 China-Nordic Economic and Trade Cooperation Forum will be held this week in Wuhan, central China’s Hubei Province, according to the press conference.

    MIL OSI China News

  • MIL-OSI China: China to work with other countries to pursue open, inclusive sci-tech cooperation

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

    China to work with other countries to pursue open, inclusive sci-tech cooperation

    BEIJING, Oct. 15 — China stands ready to work with other countries to pursue open and inclusive sci-tech cooperation, a Chinese foreign ministry spokesperson said on Tuesday.

    According to the Global Innovation Index (GII) 2024 recently released by the World Intellectual Property Organization, China moved up one spot to 11th place in the ranking of the world’s most innovative economies compared with last year, remaining the only middle-income economy in the top 30.

    In response to a related query, spokesperson Mao Ning said since the GII was launched in 2007, China has steadily moved up in various GII rankings. According to this year’s report, China is one of the fastest 10-year climbers and leads with the most science and technology clusters in the top 100, showing strong momentum in and broad prospects for innovation-driven development, she said.

    Mao said the improvement of China’s innovation capability is a result of its increasing research and development (R&D) spending and open and inclusive international cooperation.

    According to statistics, China’s R&D expenditure topped 3.3 trillion yuan (over 450 billion U.S. dollars) in 2023, up 8.4 percent year on year, Mao said, adding that China has established sci-tech cooperation relations with more than 160 countries and regions and signed 118 inter-governmental agreements on sci-tech cooperation.

    The sound environment for innovation and rich human resources in China have attracted more and more multinational businesses to set up R&D centers in this country, she said.

    “China’s sci-tech innovation serves the interests of China and the whole world. In the face of the new round of scientific and technological revolution, we stand ready to work with other countries to pursue open and inclusive sci-tech cooperation, share the outcomes of sci-tech innovation and jointly address global challenges,” Mao said.

    MIL OSI China News

  • MIL-OSI China: China’s methane-tracking satellite to join fight against global warming

    Source: China State Council Information Office 2

    China’s 2024 schedule of intense spacecraft launches will include the launch of a methane tracker — a commercial satellite designed to monitor methane emissions worldwide.
    Coded XIGUANG-004, the 75-kg satellite will carry multiple payloads, including a methane concentration detector and an imaging camera. These payloads are capable of identifying sources of methane emissions in coal mines, landfills, and oil and gas fields.
    Scientists say it is important to monitor methane emissions as the colorless, odorless gas is the second-largest contributor to climate warming, after carbon dioxide.
    “The duration of methane in the atmosphere is shorter than that of carbon dioxide, making it more urgent to reduce its emissions,” said Liu Yi, director of the Carbon Neutrality Research Center under the Chinese Academy of Sciences.
    According to Liu, scientific and technological methods can help reduce methane emissions in the short term, facilitating the utilization of otherwise wasted methane produced during coal and oil mining. Increasing the number of methane-monitoring satellites is also crucial for emissions cuts.
    “One of the major challenges we are facing is that current satellites cannot provide sufficient global coverage, resulting in a lack of data,” Liu said in a media interview.
    The development of international standards for methane emissions is underway. With a sufficient number of satellites, it will become possible to effectively monitor the methane emissions of enterprises.
    “If an enterprise exceeds the set emissions standards, it will be required to provide economic compensation for failing to do so,” Liu said, explaining the role such satellites play in reducing methane emissions.
    China has set the goals of peaking its carbon emissions before 2030 and achieving carbon neutrality before 2060. This has been reinforced by its comprehensive approach to green and low-carbon development, and the new satellite is part of the efforts.
    The satellite was developed by Xiopm Space, a commercial satellite maker in Xi’an, capital city of northwestern Shaanxi Province. The firm launched a satellite into space in August 2023, and it aims to develop a constellation of 108 hyperspectral satellites by 2030.
    Qin Xiaobao, deputy director in charge of the company’s data application, said that existing technology cannot efficiently and accurately monitor small-scale human-made emissions sources, also known as point sources. In China, the main point sources of methane gas emissions are coal mining, landfill sites, rice farming areas and livestock raising areas.
    The new XIGUANG-004 satellite is capable of detecting methane leaks at such specific sources and evaluating the extent of those leakages in high spatial resolution, thus filling the gaps in existing technology, Qin said.
    “With the help of this satellite, we can effectively monitor and track point source methane emissions worldwide,” Qin added. 

    MIL OSI China News

  • MIL-OSI USA: Thanks to Rosen-Backed Law, Nevada Seniors Can Now Sign Up for Plan to Make it Easier to Pay for Prescription Drug Costs

    US Senate News:

    Source: United States Senator Jacky Rosen (D-NV)
    Senator Rosen Helped Pass Legislation To Cap Seniors’ Out-Of-Pocket Prescription Drug Costs And Allow Them To Pay In Monthly Installments
    LAS VEGAS, NV – Starting today, thanks to legislation that U.S. Senator Jacky Rosen (D-NV) helped pass, Nevada seniors can sign up for a Medicare plan to make it easier for them to pay for prescription drugs in monthly installments, beginning in January. The Rosen-backed Inflation Reduction Act will cap Medicare Part D beneficiaries’ total out-of-pocket costs for prescription drugs at no more than $2,000 a year, and it will allow them to opt-in to the new Medicare Prescription Payment Plan to spread out any out-of-pocket costs over several months. For more information, visit: http://www.medicare.gov/prescription-payment-plan. 
    “I was proud to help pass historic legislation to give Medicare the power to negotiate lower prescription drug costs, cap out-of-pocket costs, and increase payment flexibility to lower the burden on our seniors,” said Senator Rosen. “Starting today, Medicare beneficiaries can sign up for the new Medicare Prescription Payment Plan to spread out payment of their out-of-pocket drug costs over several months. I’ll keep working in the Senate to lower costs for hardworking Nevadans.”
    Senator Rosen has been leading the fight to lower prescription drug costs. Last month, she joined her colleagues in filing an amicus brief supporting the federal law they helped pass to give Medicare the power to negotiate for lower prescription drug prices. Earlier this year, Senator Rosen introduced bipartisan legislation to lower out-of-pocket prescription drug costs for seniors. Thanks to the Inflation Reduction Act, Senator Rosen helped lower prescription drug costs for seniors, lower health care premiums, and cap the insulin costs for those on Medicare Part D at $35/month per prescription.

    MIL OSI USA News

  • MIL-OSI China: China’s maritime fleet sees shipping capacity growing

    Source: China State Council Information Office 2

    As of September, China’s maritime fleet has seen its capacity grow to 430 million deadweight tonnes, accounting for 18.7 percent of the world’s total, according to a press conference held Tuesday in Shanghai.
    From January to August this year, the country’s cargo throughput at ports exceeded 11.5 billion tonnes, up 3.7 percent year on year, and its container throughput at ports reached 220 million twenty-foot equivalent units (TEUs), up 8.2 percent year on year.
    During the period, the volume of China’s rail-water intermodal transport through ports notched up 7.78 million TEUs of containers, up 17.7 percent year on year, according to the press conference on the upcoming 2024 North Bund Forum, an international shipping conference.
    A total of 49 automated port terminals have been constructed nationwide, marking a continued leading global position, said Gao Haiyun, an official from the water transport bureau under the Ministry of Transport, during the press conference.
    Shanghai is accelerating the construction of an international shipping hub. In the first three quarters of this year, the Shanghai port alone handled a container throughput of more than 39 million TEUs, up 8 percent year on year.
    Scheduled from Oct. 22 to 24 in Shanghai, the 2024 North Bund Forum is co-hosted by the Ministry of Transport and the Shanghai municipal government. This year’s edition is expected to focus on the digital, intelligent and green development of global shipping services. 

    MIL OSI China News

  • MIL-OSI Australia: Allens advises TPG Telecom on $5.25bn sale of fibre network and Enterprise, Government and Wholesale fixed line business to Vocus

    Source: Allens Insights

    Allens has advised TPG Telecom on an agreement to sell its fibre network infrastructure and its enterprise, government and wholesale (EGW) fixed line business to Vocus Group Limited for an enterprise value of $5.25 billion.

    The sale will include all of TPG Telecom’s fibre and fixed line network infrastructure, its EGW fixed line business, its PPC-1 international submarine cable system and its wholesale broadband business, Vision Network.

    The sale price is inclusive of a potential $250 million contingent value payment related to subscriber targets for the Vision Network business.

    TPG will retain its mobile and radiocommunications network infrastructure, consumer and EGW mobile business and its consumer and small office/home office fixed retail business, including fixed wireless.

    The deal also includes a long-term strategic partnership between TPG and Vocus, with Vocus to provide TPG with ongoing access to its fibre infrastructure.

    Allens acted for TPG Telecom on the strategic review of its Vision Network business in 2022. The firm then advised TPG Telecom on negotiations with Vocus and its owners, Macquarie Asset Management and Aware Super, when the parties decided to explore a larger transaction.

    ‘This transaction demonstrates that telecommunications infrastructure continues to be a highly attractive asset class for financial investors,’ said co-lead Partner and Head of Allens’ Technology, Media & Telecommunications group, Gavin Smith.

    ‘The pace of digitisation, and the continued growth in requirements for data transmission and storage, means that the physical infrastructure underpinning that trend is highly valued.

    ‘Allens has had a long-standing relationship with TPG Telecom. We are delighted to advise it on this transformational transaction which allows it to unlock the value of its fixed line networks.’

    Co-lead Partner Julian Donnan said: ‘This deal will allow TPG Telecom to focus on its mobile and its consumer and small office/home office fixed retail business, including fixed wireless. We congratulate the teams at TPG Telecom and its financial adviser, Bank of America, with which we worked closely. We also congratulate the Vocus, Macquarie Asset Management and Aware Super teams’.

    The deal cements Allens’ position as the leading advisor on telecommunications M&A activity in Australia.

    The firm advised on all major Australian and New Zealand telecommunications tower transactions between 2021 and 2024, including: the Morrison and Future Fund investment into Amplitel (Telstra towers); the sale by TPG Telecom of its towers portfolio to OMERS/Waveconn; AustralianSuper on its acquisition of a majority stake in ATN (Optus towers) and the acquisition by ATN of Axicom; Ontario Teachers’ Pension Plan’s acquisition of a majority stake in Connexa, the Spark New Zealand tower company; Connexa’s acquisition of the 2degrees NZ tower portfolio; and NorthLeaf Capital Partners and InfraRed Capital Partnerson their acquisition of Fortysouth, the Vodafone New Zealand towers business. Allens also advised Morrison and Brookfield on its acquisition of Uniti Group.

    Allens legal team

    Lead partners

    Gavin Smith, Julian Donnan

    M&A and Capital Markets

    Tom Story (Partner), Kimberley Lowrie (Managing Associate), Stephanie Rowan (Senior Associate), Harry Martin (Associate), Will Brown (Senior Associate), Sophie Stitch (Lawyer)

    Technology, Media & Telecommunications

    Jessica Mottau (Partner), Isabelle Guyot (Managing Associate), David Liao (Senior Overseas Practitioner), Alexandra Martin (Senior Associate), Isaac Nankavill (Associate), Isabelle Orazio (Lawyer), Tasnim Ahsan (Lawyer), Matilda Winnell (Lawyer)

    Competition, Consumer and Regulatory

    Rosannah Healy (Partner), Robert Walker (Partner), John Yiannakou (Managing Associate), Edison Wang (Senior Associate), Tom Hodgson (Lawyer)

    Real Estate & Development

    Victoria Holthouse (Partner), Tom Wilson (Senior Associate), Jayne Williams (Senior Associate), Alex Jeffares (Associate)

    Banking & Finance

    Alan Maxton (Partner), Sarah Denton (Senior Overseas Practitioner), Robert Lau (Senior Associate)

    Intellectual Property

    Tommy Chen (Managing Associate), Max Jones (Senior Associate)

    Employment & Safety

    Veronica Siow (Partner), Sikeli Ratu (Partner), Eden Sweeney (Associate)

    MIL OSI News

  • MIL-OSI USA: Latta Presents Paulding County Veteran with Overdue Bronze Star

    Source: United States House of Representatives – Congressman Bob Latta (R-Bowling Green Ohio)

    Congressman Bob Latta (R-OH5) today presented Paulding County Veteran William Young with a Bronze Star for his meritorious service in the U.S. Army during the Vietnam War. Young served as one of the members of the ‘B’ Company, 720th Military Police Battalion, Military Police Brigade.

    This Bronze Star awarded to Young is part of a larger effort by Latta’s office, spearheaded by a group of the members of the ‘B’ Company in their appeal to obtain the Combat Infantry Badge (CIB) to recognize their service during the Vietnam War. After Latta worked alongside the veterans, the Department of the Army concluded the men of ‘B’ Company performed actions essential to the success of the entire 720th MP Battalion during the Vietnam War, and they were recognized with Bronze Stars for their service. 

    Last year, Latta held a ceremony in the U.S. Capitol for 35 Vietnam Veterans to receive their Bronze Stars. To date, 74 Bronze Stars have been awarded to the men of ‘B’ Company. 

    “It was a true honor to present a Bronze Star to Mr. William Young, a Paulding County resident, who honorably served our great nation in the U.S. Army during the Vietnam War,” Latta said. “Mr. Young was trained to be a Military Policeman (MP) but when he arrived in Vietnam, his unit became part of the Bushwhackers whose duties included heading into the jungle to interdict North Vietnamese and Viet Cong troops. And since they were MPs, the Army would not issue them the Combat Infantry Badge. I was pleased to work with the veterans to make sure they received the recognition they deserve – the Bronze Star. We are forever grateful and indebted to our servicemembers for serving and sacrificing for our people and country.”

    Additional background on the Bronze Stars:

    Three years ago, Latta received a copy of a book written by Robert Bogison, entitled Up Close & Personal, that detailed the service and history of ‘B’ Company, 720th Military Police Battalion, 18th Military Police Brigade during the Vietnam War.

    The book came with a letter appealing for assistance with their effort to obtain the Combat Infantry Badge (CIB) to recognize their unique service during the Vietnam War. While they were classified as Military Police during their service, the Battalion unofficially performed infantry missions on the front lines.

    After contacting the U.S. Department of Defense and the Department of the Army to inquire as to the possibility of the group receiving the CIB recognition, officials within the Defense Department undertook an extensive search at multiple personnel records facilities to locate official documentation that could back up claims that the company performed infantry actions. The veterans group also provided documentation for the Army to consider.

    After the Department of the Army concluded ‘B’ Company performed actions essential to the success of the entire 720th MP Battalion during the Vietnam War, it was announced these individuals would be recognized with Bronze Stars for their service.

    MIL OSI USA News

  • MIL-OSI USA: USAF leadership engage allies, partners to counter pacing threat

    Source: United States Air Force

    Headline: USAF leadership engage allies, partners to counter pacing threat

    U.S. Air Force Chief of Staff Gen. David Allvin and Chief Master Sgt. of the Air Force David Flosi are participating in an international Air Force Forum hosted by the Japan Air Self-Defense Force in Tokyo Oct. 14-16.

    MIL OSI USA News

  • MIL-OSI Security: USAF leadership engage allies, partners to counter pacing threat

    Source: United States Air Force

    U.S. Air Force Chief of Staff Gen. David Allvin and Chief Master Sgt. of the Air Force David Flosi are participating in an international Air Force Forum hosted by the Japan Air Self-Defense Force in Tokyo Oct. 14-16.

    MIL Security OSI

  • MIL-OSI Australia: Honey Bee Education Officer Kelly Lees awarded prestigious Churchill Fellowship

    Source: New South Wales Department of Primary Industries

    16 Oct 2024

    NSW Government Honey Bee Education Officer Kelly Lees has been recognised with a top industry honour, awarded the prestigious Churchill Fellowship for her dedication and groundbreaking work in education and training of Australian beekeepers managing Varroa mite.

    Each year, after a competitive selection process over several months, Churchill Fellowships are awarded to talented Australians who are eager to push the boundaries of science and make a real difference in NSW communities.

    Kelly will head overseas in 2025 to look at innovative new ways of managing parasitic mites of honeybees including Varroa and Tropilaelaps mites.

    NSW DPIRD Acting Executive Director Agriculture Darren Bayley said this fellowship not only recognizes her talent but also underscores the importance of addressing the challenges posed by parasitic mites to our vital bee populations and industries.

    “We are proud of Kelly for receiving the Churchill Fellowship, with this recognition highlighting her dedication and the impact her work will have on bee health and agricultural sustainability well into the future,” Mr Bayley said.

    “With Kelly’s participation in the Churchill Fellowship, we anticipate significant advancements in the management of parasitic mites that threaten Australian honeybee populations and look forward to knowledge she will impart on our staff and beekeepers across NSW.”

    Kelly will be working with leading researchers in the field including Dr Samuel Ramsey and Dr Cooper Schouten.

    Kelly’s fellowship has been sponsored by Colin and Maggie Beer through the Saskia Beer Fellowship in memory of their late daughter.

    Ms Lees said by sharing insights and techniques with other researchers, we can develop more effective management strategies that will not only benefit our honeybees but also ecosystems worldwide.

    “I am incredibly honoured to receive the Churchill Fellowship, it not only represents a great personal achievement in my career but will also allow me to have a direct impact on our local beekeepers and agricultural practices,” Ms Lees said.

    “This opportunity will allow me to collaborate with some of the world’s leading experts in honeybee health and explore innovative solutions for managing parasitic mites that threaten our bees.”

    The aim of the Churchill Fellowship is a part of the Winston Churchill Trust. The trust provides an opportunity to Australians to travel overseas to conduct research in their chosen field. It also aims to reward individuals who possess passion and a commitment to make a difference in Australian society. Since 1965 they have awarded over 4500 Fellowships.

    For more information on NSW DPIRD honeybee research, please visit our website

    For more information on the Chruchill Fellowship, please visit the Winston Churchill Trust website

    Images are available here

    Media contact:
    For more information, please contact: pi.media@dpird.nsw.gov.au

    MIL OSI News

  • MIL-OSI Australia: Care for others and pre-plan this fire season

    Source: Victoria Country Fire Authority

    This National Carers Week (Oct 13-19) CFA is urging Victorians who care for others living in high bushfire risk areas to make a fire plan using CFA’s online module ahead of summer.

    The learning module Bushfire Planning: You and the person you care for, developed with Carers Victoria, is for anyone who provides informal unpaid care or support to family members or friends with a disability, mental illness, chronic health issue or age-related condition.

    The one-hour online lesson dives into who needs to be prepared, important roles played, how to start a conversation and build a plan, when to choose to stay or go, how to make it all work and what resources are available.

    Dromana Fire Brigade member Tim Marchinton, who informally cares for his mum who lives rurally and remotely in a high-risk area said the module has been a valuable tool in setting her up for any type of emergency.

    “Sometimes mum is on her own, and she lives in an area surrounded by a lot of natural bush, so we needed to have something that she could enact if I wasn’t here,” Tim said.

    “Every summer she is concerned about the what if, having previously lived in another part of Gippsland that was affected by the Black Saturday bushfires.

    “It’s been challenging to chat through this, because up until Black Saturday, mum was of the mindset that you can stay and do what you need to do on your own.

    “I’ve now got her to think differently by doing this plan and reassured her that we’ve got insurance and it’s not worth trying to stay and fight.”

    Tim and his mum watched the module together, then went through what they learnt, condensing it into a checklist and a survival plan that she has nearby at all times.

    “She now has a packed bag, with everything essential by the door as recommended, and we re-check that every summer. We make sure the batteries are fresh, that radios are in there with bottled water and a bowl is there for the dog,” Tim said.

    “A really important factor for mum throughout this process was incorporating contingencies so she could take her dog with her, otherwise she wasn’t prepared to continue creating the plan. 

    “She knows on a Total Fire Ban (TFB) day to listen to the radio continuously, and to make sure her phone is always charged.

    “It’s been a great conversation starter, her exit road has two choices, so we’ve talked about where she would go if she was to leave early as her house is wooden and more vulnerable.”

    Due to the gravity of the information, Tim took a person-centred approach when working through the online learning with his mum and completed it over a number of sessions.

    Ahead of and during summer Tim and his mum spend time cleaning up the property, emptying gutters and clearing leaves anything surrounding the area. 

    “We’ve put a ring sprinkler around the house so that there is some barrier against ember attack when she needs to leave, it has a 50,000L tank that is preserved for this purpose to create some sort of ember wash,” Tim said.

    “If she needs to leave quickly there is a safe spot for her on the neighbours’ property surrounded by low cut grass. However, mum and her neighbours have already agreed that leaving early to go and stay with friends on a TFB day is the best course of action.

    Since launching, 580 people have completed the module, with a further 184 currently in progress and another 107 enrolled to begin. Visit CFA’s website at http://www.cfa.vic.gov.au/carers for a step-by-step guide on how to complete it. To learn more about Carers Victoria, visit http://www.carersvictoria.org.au

    • Dromana Fire Brigade member Tim Marchinton often attends expos in a Community Education Officer role
    Submitted by CFA media

    MIL OSI News

  • MIL-OSI New Zealand: No escape from Eagle’s prying eyes

    Source: New Zealand Police (District News)

    Police arrested a gang member in east Auckland early this morning, after disturbing his dangerous late-night ride along the Southern Motorway.

    Auckland City Central Response Manager, Senior Sergeant Dave Plunkett, says a Police unit noticed a speeding motorcycle in Grafton just before midnight.

    “Police signalled for the rider to stop but he fled at speeds well over the legal road limit. We did not pursue the motorbike, due to this dangerous manner of driving.

    “However, the Police Eagle helicopter was deployed to the area and observed the motorbike as it exited the motorway towards Mount Wellington, and to an address on Panama Road.

    “Eagle directed Police ground staff to the address, where the alleged motorbike rider met them the gate and led them to the suspected motorbike in a garage.”

    The bike was impounded for six months along with another motorbike in the garage, that had multiple alerts for fleeing Police.

    The alleged rider, a 45-year-old patched Head Hunters gang member, was summoned to the Auckland District Court where he will face charges of failing to stop and dangerous driving.

    “This incident shows once again that we have no tolerance for reckless driving behaviour that puts other road users at risk,” Senior Sergeant Plunkett says.

    “Thanks to the good work of all Police staff involved, the rider will be held to account.”

    ENDS.

    Tony Wright/NZ Police

    MIL OSI New Zealand News

  • MIL-OSI USA: Photos: Rubio Visits Charlotte County Post-hurricane Milton

    US Senate News:

    Source: United States Senator for Florida Marco Rubio

    Photos: Rubio Visits Charlotte County Post-hurricane Milton

    Oct 15, 2024 | Press Releases

    Following Hurricane Milton’s catastrophic impact on communities throughout Florida, U.S. Senator Marco Rubio (R-FL) met with Charlotte County emergency management personnel, local officials, and small business owners to discuss the storm’s impact and current recovery efforts.

    Photo courtesy of Senator Rubio’s office.

    Senator Rubio meets with emergency management personnel at the Charlotte County Emergency Operations Center. 

    Senator Rubio meets with constituents in Charlotte County. 

    Senator Rubio discusses Hurricane recovery with Punta Gorda Mayor Lynne Matthews and River City Grill and River City Italia owners Doug and Diane Ameral.

    Senator Rubio surveys damage at Leroy’s in Charlotte County.

    MIL OSI USA News

  • MIL-OSI New Zealand: Release: Sluggish economy means struggles ahead for Kiwis

    Source: New Zealand Labour Party

    While today’s inflation numbers are good news for Kiwis, there are still struggles ahead with rising rents, rates, insurance and high unemployment.

    “Inflation is at 2.2 percent, but the rest of the economy is sluggish,” Labour finance spokesperson Barbara Edmonds said.

    “The Reserve Bank was already on track to get inflation back into the target band. However, non-tradable inflation is still high. Rents are up 4.5 percent, local authority rates and payments are up 12.2 percent. 

    “Skilled workers are leaving the country in droves, and with cuts to the apprenticeship boost, the workers to fill the gaps simply won’t exist.

    “New Zealand continues to grapple with a growing infrastructure deficit that has been generations in the making. If the Government was truly serious about tackling it, you would think having a skilled workforce would be critical.

    “Nicola Willis wants to take credit for getting inflation down. She should take responsibility for these statistics as well:

    • Net New Zealand citizen migration has never been higher at 56,100
    • There are 10,000 fewer people working in construction than when this Government took over
    • 22,000 more people are on Job Seeker Benefit

    “This Government’s decisions have led to a stagnant economy with fewer jobs,” Barbara Edmonds said.


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    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Release: Cuts to Apprenticeship Boost will fail future NZ

    Source: New Zealand Labour Party

    The Government’s cuts to the Apprenticeship Boost programme will leave New Zealand without the workforce it needs to build homes, schools and hospitals.

    “As we see more and more skilled workers leaving the country, Penny Simmonds has cut the very tool that would ensure more people are trained to fill the gap,” Labour tertiary education spokesperson Dr Deborah Russell said.

    “Apprentices in road construction and maintenance, drinking/wastewater treatment, welding and mechanical engineering are just some of the industries where the Apprenticeship Boost no longer applies.

    “New Zealand continues to grapple with a growing infrastructure deficit that has been generations in the making. If the Government was truly serious about tackling it, you would think having a skilled workforce would be critical.

    “With the economy stagnating, now is the time to support more businesses to take on apprentices to stimulate employment.

    “After the global financial crisis, the previous National Government let apprenticeship numbers plummet and did nothing to support businesses to continue to put resource into training. Labour did the opposite during COVID-19 and supported businesses to keep people in work.

    “Cutting the Apprenticeship Boost is only adding to rising unemployment, as thousands of Kiwis leave or lose their jobs in construction under National.

    “Labour was proud to support businesses to keep on more than 62,000 apprentices through the Apprenticeship Boost programme.

    “This is another example of Penny Simmonds taking the tertiary sector backwards. She will go down as the Minister who set polytechnics up to fail and failed New Zealand’s future workforce,” Dr Deborah Russell said.


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    MIL OSI New Zealand News

  • MIL-OSI: Constellation Software Inc. Announces Release Date for Third Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 15, 2024 (GLOBE NEWSWIRE) — Constellation Software Inc. (TSX:CSU) announced today it intends to release its third quarter results on November 8, 2024.

    The Company’s quarterly results will be disseminated via press release and made available on the Company’s website (http://www.csisoftware.com) and the SEDAR website (http://www.sedarplus.ca), after markets close on Friday, November 8, 2024. As outlined in Constellation’s press release on February 23, 2018, Constellation has ceased holding conference calls to discuss the Company’s quarterly financial results. In lieu of the quarterly calls the Company has created a link on its website where shareholders can submit questions to management. Periodically the Company will publish responses to selected questions received. The Company believes this Q&A facility will eventually prove to be a more effective tool than the conference calls because it will be searchable and will provide an archive of all previous responses.

    The Company’s goal in establishing this policy is to allow all investors ongoing access to information disclosed about Constellation’s strategy, operations, and ongoing business plans.

    Website link: https://www.csisoftware.com/investor-relations/shareholder-q-and-a

    About Constellation Software Inc.
    Constellation Software acquires, manages and builds vertical market software businesses.

    Contact:

    Jamal Baksh
    Chief Financial Officer
    416-861-9677

    The MIL Network

  • MIL-OSI: Topicus.com Inc. Announces Release Date for Third Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 15, 2024 (GLOBE NEWSWIRE) — Topicus.com Inc. (TSXV:TOI) announced today it intends to release its third quarter results on October 31, 2024.

    The Company’s quarterly results will be disseminated via press release and made available on the Company’s website (http://www.topicus.com) and the SEDAR website (http://www.sedarplus.ca), after markets close on Thursday, October 31, 2024.  

    About Topicus.com Inc.

    Topicus’ subordinate voting shares are listed on the Toronto Venture Stock Exchange under the symbol “TOI”. Topicus acquires, manages and builds vertical market software businesses.
    Contact:

    Jamal Baksh
    Chief Financial Officer
    416-861-9677

    The MIL Network

  • MIL-OSI USA: Grassley Stands Up for Iowa Farmers, Calls Out Biden-Harris Ag Failures

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    BUTLER COUNTY, IOWA – U.S. Sen. Chuck Grassley (R-Iowa), a lifelong family farmer and a member of the Senate Agriculture Committee, is sharing Iowa farmers’ concerns regarding the Biden-Harris administration’s approach to agriculture, energy and trade. 
    “Farmers are struggling to stay afloat thanks to falling profitability, sky high input costs and burdensome regulations,” Grassley said of his letter to President Biden and Vice President Harris. “In order to forge a better future for farmers, Washington needs to listen to the real-world experience of those with dirt under their fingernails. I’m demanding the Biden-Harris administration wake up to the challenges our farmers are facing.”
    Grassley’s letter shines light on President Biden and Vice President Harris’ harmful ag and trade policies, including:
    Grassley is urging President Biden and Vice President Harris to prioritize agricultural issues and lend farmers a helping hand by issuing timely, science-backed guidance on the 45Z Clean Fuels tax credit and expanding market access.
    Download audio of Grassley discussing his letter HERE. Read the full letter HERE and below.
    Monday, October 14, 2024
    The Honorable Joseph R. Biden
    President of the United States
    1600 Pennsylvania Ave NW
    Washington, DC 20500
    Dear President Biden and Vice President Harris,
    I am writing to express my concerns regarding the impact of your administration’s policies on the agricultural community. As a lifelong family farmer, I know first-hand the decisions made at the federal level have far-reaching consequences. It is critical that these decisions support, rather than hinder, our farmers. 
    Many aspects of farming have changed over the last four years of your administration. Unfortunately, the most important aspect of farming, profitability, has declined. In 2021, net farm cash income for the United States was around $176 billion. This year, 2024, net farm cash income is estimated to be down to $154 billion. As any farmer could tell you, if you aren’t profitable, you won’t be farming for long. I would like to take this opportunity to address areas where I believe your administration has fallen short in supporting the agriculture sector.
    First, under your administration the regulatory environment has become increasingly burdensome. Farmers and businesses alike have faced a host of new regulations that complicate their operations and drive up costs. For example, your changes to the Waters of the United States (WOTUS) rule, would have covered over 90 percent or the State of lowa and made the government involved in any land management decision for farmers, developers, and businesses such as golf courses. Thankfully, all nine Supreme Court justices agreed that the Environmental Protection Agency’s expansive regulatory efforts violated the Clean Water Act.
    From electric vehicle mandates to overly complicated strategies for herbicides and insecticides, farmers are concerned that these regulations will impose additional compliance costs and restrictions on their ability to manage their land effectively. This is also seen clearly in the Department of Treasury’s guidance for the 40B sustainable aviation fuel tax credit. Instead of enabling farmers to benefit from science-backed farming practices that work for them, your administration’s guidance restricted American farmers and benefitted foreign feedstocks. While I understand the need for sustainable practices, pushing farmers to specific farming practices can undermine the autonomy of farmers to make decisions that best suit their unique circumstances, and edge them out of new markets.
    Trade policy is another area where your administration has missed the mark. The lack of new trade agreements and uncertainty around tariffs has left the United States agriculture sector with a record estimated $30.5 billion trade deficit this year. In March, I joined 21 of my Senate colleagues in a letter to Ambassador Tai and Secretary Vilsack to ask if your administration intended to pursue any new free trade agreements. As my colleagues and I expressed at that time, the increased deficit is, “exacerbated by an unambitious U.S. trade strategy that is failing to meaningfully expand market access or reduce tariff and non-tariff barriers to trade.” Though your administration has acted in trade disputes and other areas, it has been based on previous trade agreements established before your administration. The lack of a comprehensive strategy to expand market access for American agricultural products has been frustrating for farmers who rely on exporting their products to sustain their livelihoods.
    Lastly, I urge your administration to prioritize these important issues in the agricultural community. There are still important steps that you can take to support farmers. Issuing timely guidance on the 45Z clean fuels tax credit would help provide certainty to farmers looking to market the grain they are currently harvesting. Allowing farmers a seat at the table for 45Z guidance and reducing the complicated and unworkable structure from 40B would go a long way in ensuring farmers maintain their autonomy in farming practices.
    Thank you for your attention to these important issues. I look forward to your response and hope that in the coming months you work to support our farmers who continue to contribute to the nation’s food security, fuel independence, and economic stability.
    -30-

    MIL OSI USA News

  • MIL-OSI China: Beijing explores new growth avenues by nurturing high-tech industries

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

    A technician operates a device at a workshop of Beijing CRS Medical Device Co., Ltd., a precision manufacturing company specializing in the research, production and sales of sterile dental implants in Beijing, Oct. 13, 2024. [Photo/Xinhua]

    BEIJING, Oct. 15 — In a sleek, automated workshop at the Daxing International Airport Economic Zone in southern Beijing, technicians from dental implant manufacturer CRS are meticulously checking their implants for any defects under microscopes.

    CRS, a precision manufacturing company specializing in the research, production and sales of sterile dental implants, began production here last month. The firm aims to produce one million implants annually. Its products are designed to be competitive by minimizing stress on bone and soft tissues, improving structural stability and simplifying clinical procedures.

    Su Hanqi, general manager of Beijing CRS Medical Device Co., Ltd., recalls that it took just an hour to choose the economic zone for their operations. “The one-stop services offered by the zone significantly reduced our efforts in navigating processes and approvals, while a range of supportive policies has fostered an exceptionally conducive entrepreneurial environment for us,” Su said.

    To promote the development of the medical and health industry, the economic zone and Daxing District offer policies that include monetary incentives for R&D, innovation application, mass production and space rentals.

    Su said that due to the support, overall operating costs are estimated to decrease by 30 percent. “For a manufacturing enterprise like ours, being able to focus on production and R&D is crucial.”

    The economic zone where Su’s firm operates aims to develop a series of industrial clusters in sectors such as life sciences, health, medical devices, logistics and international aviation. This aligns with the city’s broader goal of becoming a global hub for scientific and technological innovation.

    Data from the Beijing 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.

    According to the resolution adopted at the third plenum of the 20th Central Committee of the Communist Party of China held in July this year, the country seeks to establish a mechanism for ensuring funding increases for industries of the future, and improve the policy and governance systems to promote the development of strategic industries such as next-generation information technology, AI, aviation and aerospace, new energy and biomedicine, among others.

    The picture taken on Aug. 20, 2024 shows the Daxing International Hydrogen Energy Demonstration Zone in Beijing. [Photo/Xinhua]

    A 20-minute drive from Daxing airport is the Daxing International Hydrogen Energy Demonstration Zone, home to Hypower, one of the world’s largest hydrogen refueling stations. With a maximum daily capacity of 4.8 tonnes, the station can meet the hydrogen needs of 800 hydrogen-powered fuel cell electric vehicles.

    Nearby, a workshop of SinoHytec, a Chinese high-tech company specializing in the R&D and commercialization of hydrogen fuel cells, showcases fuel cells of various capacities to visitors.

    A technician is pictured working at a hydrogen fuel cell manufacturing company located at Daxing International Hydrogen Energy Demonstration Zone in Beijing, Aug. 20, 2024. [Photo/Xinhua]

    According to Bao Jianpeng, deputy director of production operations at SinoHytec, the company’s fuel cells have been used in more than 15,000 vehicles.

    “All the components of our fuel cell systems are home-grown. Another significant breakthrough is that the fuel cells we produce, which previously could only operate above zero degrees Celsius, can now function at temperatures as low as minus 35 degrees Celsius,” he said.

    The demonstration zone is focused on creating an industrial ecosystem incorporating hydrogen production, storage, transportation and refueling, fuel cell and components production, as well as testing and certification services for fuel cell vehicles and core components.

    The demonstration zone has already attracted over 20 enterprises in the hydrogen industry, including Hypower and SinoHytec, according to the Daxing district government.

    MIL OSI China News

  • MIL-OSI New Zealand: More good news for Kiwis

    Source: New Zealand Government

    Today’s inflation figures are more good news for New Zealanders, Finance Minister Nicola Willis says. 

    Stats NZ reported today that the inflation rate had dropped from 3.3 per cent in the year to June to 2.2 per cent in the year to September. That is down from 5.6 per cent just a year ago and over 7 per cent in 2022. 

    “At 2.2 per cent inflation, it is also the first time the rate has been back within the Reserve Bank’s target range of 1 to 3 per cent since March 2021. 

    “The era of crushing price rises is now over. 

    “Kiwis can look forward to mortgage rate reductions and businesses will find it easier to invest and innovate with a lower cost of borrowing. 

    “The steps the Government is taking to reduce inflationary pressures by restoring discipline to public spending, reducing the red tape that is stifling innovation and development, and rebuilding business confidence are working.  

    “Together with the tax relief that took effect on 31 July, and the FamilyBoost childcare payments that many families are now receiving, falling inflation and interest rates mean large numbers of families are now better off than they were a year ago.  

    “There is more work to be done to get the economy growing, but New Zealanders can be confident we are headed in the right direction.” 

    MIL OSI New Zealand News

  • MIL-OSI China: Senior official says to join EU for women’s broad, in-depth participation in STEM education

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

    Senior official says to join EU for women’s broad, in-depth participation in STEM education

    BEIJING, Oct. 15 — Chinese State Councilor Shen Yiqin on Tuesday said China is ready to work with the European Union (EU) to continue to promote women’s broad and in-depth participation in science, technology, engineering and mathematics (STEM) education.

    Shen, also Chinese chairperson of the China-EU High-Level People-to-People Dialogue, made the remarks in a video speech towards the opening ceremony of the China-EU Great Wall Seminar, an education policy dialogue platform within the framework of the China-EU High-Level People-to-People Dialogue.

    Since the founding of the People’s Republic of China 75 years ago, the education level of Chinese women has improved significantly, and Chinese women’s participation in STEM education has achieved remarkable results, Shen said.

    China is ready to work with the EU to strengthen policy dialogue, experience sharing and people-to-people exchanges, carry out cooperation in digital education and sister school building, and continuously increase the breadth and depth of women’s participation in STEM education, so as to promote more equitable and inclusive education for women and girls around the world, said Shen.

    The China-EU Great Wall Seminar, an education policy dialogue platform within the framework of the China-EU High-Level People-to-People Dialogue, is held in Hangzhou, east China’s Zhejiang Province, Oct. 15, 2024. [Photo/Xinhua]

    MIL OSI China News

  • MIL-OSI China: China to work with Tajikistan to tap cooperation potential: Premier Li

    Source: China State Council Information Office

    Chinese Premier Li Qiang meets with Tajik Prime Minister Kokhir Rasulzoda on the sidelines of the 23rd Meeting of the Council of Heads of Government of Member States of the Shanghai Cooperation Organization in Islamabad, Pakistan, Oct. 15, 2024. [Photo/Xinhua]

    Chinese Premier Li Qiang said on Tuesday that China is ready to work with Tajikistan, focusing on the high-quality Belt and Road cooperation, to tap the potential of cooperation in various fields and expand cooperation in emerging industries in a bid to inject more impetus into common development.

    Li made the remarks during his meeting with Tajik Prime Minister Kokhir Rasulzoda on the sidelines of the 23rd Meeting of the Council of Heads of Government of Member States of the Shanghai Cooperation Organization (SCO).

    Li said that in July, President Xi Jinping paid a successful state visit to Tajikistan, during which the two heads of state jointly announced the decision to elevate China-Tajikistan relations to a comprehensive strategic cooperative partnership in the new era, and to build the China-Tajikistan community with a shared future at a higher level, drawing a new blueprint for the development of China-Tajikistan relations and cooperation.

    China is ready to work with Tajikistan to further implement the important consensus reached by the two heads of state, carry forward traditional friendship, deepen mutual political trust, firmly support each other on core interests, lift China-Tajikistan all-round cooperation to a new level, and bring more benefits to the two peoples, he said.

    China is going to work with Tajikistan to strengthen the synergy of development strategies. Guided by the vision of the China-Tajikistan community with a shared future and focusing on the high-quality Belt and Road cooperation, China stands ready to tap the potential of bilateral cooperation in various fields, advance cooperation in such fields as trade, investment, mining and agriculture, as well as in emerging industries including new energy and digital economy, promote connectivity, and strengthen people-to-people exchanges and cooperation in culture, education and tourism, in a bid to inject more impetus into common development, he said.

    China will work with Tajikistan to implement the outcomes of the first China-Central Asia Summit, strengthen multilateral cooperation, jointly carry out the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative, advocate an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization, practice true multilateralism, and uphold international fairness and justice, Li said.

    Rasulzoda said that the traditional friendship between Tajikistan and China is profound, mutual political trust is solid, and bilateral relations are at the highest level in history.

    Tajikistan congratulates the People’s Republic of China on its remarkable development achievements since its founding 75 years ago, and thanks China for its long-term valuable support for Tajikistan’s development, he said, noting that President Xi paid a successful state visit to Tajikistan not long ago, which strongly promoted the comprehensive strategic cooperative partnership between Tajikistan and China to a higher level.

    Tajikistan is willing to work with China to fully implement the important consensus reached by the two heads of state of China and Tajikistan, strengthen exchanges at various levels, promote the Belt and Road cooperation, deepen cooperation in such fields as trade, investment, e-commerce, energy, industry, transportation and agriculture, expand cooperation in emerging fields like digital economy and green economy, and deepen cultural and people-to-people exchanges to better benefit the two peoples, he said.

    Noting that Tajikistan supports the vision of building a community with a shared future for mankind and the three global initiatives proposed by President Xi, Rasulzoda said Tajikistan expects to work with China to promote cooperation between Central Asian countries and China, deepen cooperation within the framework of the United Nations and the SCO, and jointly uphold regional and global peace, stability and development. 

    MIL OSI China News

  • MIL-OSI China: China eyes further fruitful partnership with Australia: Chinese VP

    Source: China State Council Information Office

    Chinese Vice President Han Zheng meets with President of the Australian Senate Sue Lines in Beijing, capital of China, Oct. 15, 2024. [Photo/Xinhua]

    Chinese Vice President Han Zheng met with President of the Australian Senate Sue Lines in Beijing on Tuesday, noting that China is willing to work with Australia to build a more fruitful bilateral comprehensive strategic partnership.

    Noting that this year marks the 10th anniversary of the establishment of China-Australia comprehensive strategic partnership, Han said consolidating and developing bilateral ties serves the common interests of the two countries and is conducive to regional peace, stability and prosperity, as both China and Australia are important countries in the Asia-Pacific region.

    Han said China is ready to work with Australia to implement the important consensus reached by leaders of the two countries and deepen mutually beneficial cooperation, so as to build a more mature, stable and fruitful China-Australia comprehensive strategic partnership and contribute to peace and development in the region and the world.

    Lines said she has felt the vitality and achievements of China’s development during this visit, adding that the close cooperation between Australia and China benefits the people.

    The Australian Senate is committed to promoting the sustained and steady development of Australia-China ties and the two countries being equal partners, Lines said.

    MIL OSI China News

  • MIL-OSI China: 11 killed, 19 wounded in Israeli airstrikes on different areas of Lebanon

    Source: China State Council Information Office

    At least 11 people were killed and 19 others wounded on Tuesday in Israeli airstrikes on different areas of Lebanon, local media reported.

    Five people were killed and 16 others wounded, while two children went missing in an Israeli airstrike on a residential building in Riyaq, a Lebanese town in the Bekaa governorate, according to an al-Jadeed local TV channel.

    The channel reported that civil defense teams are still searching for missing people under the rubble.

    In a separate incident, two nurses were injured in an Israeli airstrike on Mortada Hospital in Baalbek in eastern Lebanon, and they were transported to Dar al-Amal Hospital, according to al-Jadeed.

    Meanwhile, an Israeli airstrike on the southern village of Jarjouh killed an Amal Movement member and three of his family members.

    On a separate note, a violent Israeli raid targeted a house in the village of Jennata in the Tyre district, killing two people and wounding one, according to the National News Agency.

    Lebanese military sources told Xinhua that Israeli warplanes and drones carried out 17 raids on towns and villages in southern Lebanon and 11 raids on towns and villages in eastern Lebanon on Tuesday afternoon.

    For its part, Hezbollah announced that in support of the Palestinian people and in defense of Lebanon and its people, its fighters bombed the occupied city of Safed on Tuesday afternoon with a rocket salvo.

    It also announced a second attack on Marbad al-Zaoura in the occupied Syrian Golan, using a salvo of rockets and the Naftali base near the occupied city of Safed.

    Since Sept. 23, the Israeli army has been launching an unprecedented, intensive air attack on Lebanon in an escalation with Hezbollah.

    Since Oct. 8, 2023, Hezbollah and the Israeli army have been exchanging fire across the Lebanese-Israeli border amid fears of a broader conflict as the war between Hamas and Israel continues in the Gaza Strip.

    MIL OSI China News

  • MIL-OSI China: UK has no plans for EU-style tariffs on Chinese EVs

    Source: China State Council Information Office

    British Trade Secretary Jonathan Reynolds has said that the United Kingdom (UK) has no plans to follow the European Union’s (EU) decision to impose tariffs on Chinese electric vehicle (EV) imports.

    Reynolds said that there had not been any complaints from the UK automative industry to the Trade Remedies Authority (TRA), and he would not seek to follow the EU in pursuing tariffs, the Reuters reported on Monday.

    “We keep it under close analysis, but I think it’s important our industry is different, and as of yet industry itself hasn’t asked for that referral to the TRA,” Reynolds told reporters on the sidelines of the International Investment summit in London.

    Britain was an “outlier” in how little it had done in terms of building trade links with China, and engagement was a good thing, Reynolds added.

    Reynolds had made similar remarks at the G7 Trade Ministers’ Meeting in Italy in July, reaffirming that the UK would not impose punitive tariffs on Chinese EVs like the EU.

    China and the EU are yet to reach a mutually acceptable solution on the issue, despite important progress in certain areas, China’s commerce ministry said on Saturday.

    The EU’s move has also sparked criticism from several European countries and auto industries, who warn the move could backfire by undermining the EU’s own competitiveness.

    MIL OSI China News

  • MIL-OSI China: S. Korean military ‘main culprit’ of drone intrusion into Pyongyang: DPRK official

    Source: China State Council Information Office

    A senior official of the Democratic People’s Republic of Korea (DPRK) on Tuesday accused the South Korean military of being the “main culprit” of the drone intrusion into the airspace of Pyongyang, state media reported.

    Kim Yo Jong, vice department director of the Central Committee of the Workers’ Party of Korea (WPK), issued a press statement saying the DPRK has “secured clear evidence” showing that the South Korean military is “the main culprit” of the hostile provocation of violating the DPRK sovereignty by intruding into the sky over its capital city of Pyongyang, the DPRK’s official Korean Central News Agency (KCNA) reported.

    “The provocateurs will have to pay a dear price,” the senior DPRK official was quoted by the KCNA as saying.

    A day earlier, Kim Jong Un, general secretary of the WPK and president of the state affairs of the DPRK, convened a consultative meeting on national defense and security in the latest move by the country to address the escalating tensions on the Korean Peninsula, the KCNA said in an earlier report on Tuesday.

    The DPRK Foreign Ministry issued a statement last Friday evening, accusing South Korea of sending drones over Pyongyang. South Korea’s military denied the accusation on the same day, saying that “it did not send drones into North Korea.”

    MIL OSI China News

  • MIL-OSI China: Large-scale debt swap eyed to boost economy

    Source: China State Council Information Office

    A worker counts Chinese currency renminbi at a bank in Linyi, East China’s Shandong province. [Photo/Xinhua]

    China is likely to approve a debt swap program worth trillions of yuan as the beginning of a broader plan to decisively forestall any downward economic spiral, economists and policy advisers said.

    The debt resolution program — set to be the biggest of its kind in recent years — reflects policymakers’ priority not only to stimulate short-term growth, but also to proactively tackle major structural challenges, opening the door to further substantive policy support, they said.

    The policy focus for the coming quarters should include further addressing local governments’ delayed payments to businesses, acquiring idle housing and helping struggling real estate developers overcome difficulties, they said.

    The economists and advisers added that by alleviating debt pressures facing local governments, the debt swap plan will improve corporate performance, reinvigorate business expectations and serve as an important stepping stone to economic stabilization.

    Noting that this approach is as essential as direct demand stimulus, Robin Xing, chief China economist at Morgan Stanley, said, “Resolving the debt issue is a critical step in stopping a key deflationary downward spiral.”

    Xing added that the debt swap program would go beyond merely reducing interest payments. “It can improve the liquidity and balance sheets of local businesses (as local governments honor payables), but more fundamentally, restore stability in the regulatory environment and thus business expectations.”

    He estimated that the debt swap program will be no less than 6 trillion yuan ($843 billion) over multiple years, with the central government taking over some local debt burdens, and added that this year may see a 2 trillion yuan supplementary fiscal package for local debt resolution and bank recapitalization.

    Finance Minister Lan Fo’an said on Saturday that the Finance Ministry plans to increase the debt limit by a large scale at once and replace the hidden debt of local governments, without disclosing the specific size of the plan.

    The market is waiting for the Standing Committee of the National People’s Congress, the country’s top legislature, to convene in late October or early November to approve the specifics of the plan.

    Sheng Zhongming, a research fellow at the CF40 Institute, which is affiliated with the China Finance 40 Forum think tank, said that a debt swap would convert high-cost and structurally complex implicit debt into more sustainable low-cost and standardized government bonds, reflecting a policy orientation of securing this year’s growth target while tackling persistent structural problems.

    China must confront the key structural issues of local debt risks, outstanding government payments to businesses, real estate concerns and the recapitalization needs of banks, Sheng said, which will require at least 10 trillion yuan in additional public funds over several years in order to be effectively addressed.

    Wang Yiming, vice-chairman of the China Center for International Economic Exchanges, suggested leveraging central government funding to address local governments’ overdue payments to businesses that accumulated during the COVID-19 pandemic.

    To further address the real estate downturn, a feasible solution could be establishing a special fund, financed by fiscal funds, to acquire housing stock and convert it into government-subsidized rental housing for new urban residents, said Wang, who also serves as a monetary policy committee member of the nation’s central bank.

    Li Daokui, director of Tsinghua University’s Academic Center for Chinese Economic Practice and Thinking, said it is imperative to address the situation in which local governments face extremely tight cash flows while banks are flush with liquidity.

    Li suggested that local debt at least equivalent to 20 percent of the country’s GDP, or around 30 trillion yuan, should be replaced with longer-term treasury bonds.

    MIL OSI China News

  • MIL-OSI Australia: New Key Worker Accommodation arrives in Finley

    Source: New South Wales Government 2

    Headline: New Key Worker Accommodation arrives in Finley

    Published: 16 October 2024

    Released by: Minister for Regional Health


    Healthcare workers will soon have access to modern, fit for purpose accommodation in Finley with the arrival of new accommodation units to support staff at Finley Health Service. 

    Six self-contained units are being installed on the east side of the Health Service on Dawe Avenue, delivered as part of the NSW Government’s $45.3 million Key Worker Accommodation Program.

    The prefabricated units are built off-site and modelled on the Key Worker Accommodation Program Prototype Unit completed earlier this year. 

    The new units will be fully furnished and self-contained, and feature a screened verandah, a light-filled living and dining area, modern kitchen, bedroom with ensuite, and an internal laundry. Parking spaces and secure access are also provided.

    Healthcare workers are expected to move into the new accommodation before the end of the year, once installation, connection of services, fencing, landscaping, and furnishing of the new units is completed.  

    Murrumbidgee Local Health District is one of three regional local health districts to benefit from a $45.3 million investment to deliver accommodation for health workers under the Key Worker Accommodation Program.  

    Finley is the second site in the Murrumbidgee Local Health District to receive new accommodation under the program.

    In the coming months, Leeton and Narrandera health services will also benefit from the Program with the installation of three units at West Wyalong now complete.

    An additional $200.1 million has been committed by the NSW Government to increase key health worker accommodation across rural and regional areas of the State as part of the 2024-25 NSW Budget.  

    Quotes attributable to Regional Health Minister Ryan Park: 

    “With the $25 million redevelopment of the Finley Health service expected to start early next year, the availability of new healthcare worker accommodation on-site will be an important boost for recruitment. 

    “Recruitment and retention of staff in rural and regional hospitals is a priority for the Minns Labor Government, which is why we are committing a further $200.1 million to increase key health worker accommodation in the state.

    “Finley is the third site in rural and regional NSW to have pre-manufactured new accommodation units delivered under the current Key Worker Accommodation Program, and it’s wonderful see the success of this innovative approach to infrastructure continue.”

    Quotes attributable to Member for Murray, Helen Dalton: 

    “I’m pleased that these new units will help support healthcare workers at Finley Health Service by providing modern, safe and comfortable accommodation close to their place of work.

    “Investments like this are vital to help attract and retain staff, particularly so for regional and rural areas where recruitment is one of the biggest challenges.”

    MIL OSI News

  • MIL-OSI China: Taiwan leader Lai’s separatist remarks escalate cross-Strait tensions: mainland spokesperson

    Source: China State Council Information Office 2

    A Chinese mainland spokesperson on Tuesday said Taiwan leader Lai Ching-te’s separatist remarks, especially his Oct. 10 speech, have escalated cross-Strait tensions and seriously undermined peace and stability across the Taiwan Strait.
    Chen Binhua, a spokesperson for the State Council Taiwan Affairs Office, made the remarks in response to a media inquiry.
    The recent series of resolute and effective countermeasures taken by the mainland are a sovereign country’s just moves to punish separatist activities and safeguard national sovereignty and territorial integrity, as well as to safeguard the peace and stability across the Strait and the safety and wellbeing of Taiwan compatriots, said Chen.
    Chen warned Taiwan authorities led by Lai that each provocation made by “Taiwan independence” separatist forces will be met with more intense countermeasures from the mainland, until China’s complete reunification is realized. 

    MIL OSI China News

  • MIL-OSI New Zealand: Palmerston North sheep farmer banned from being in charge of animals indefinitely, fined $13,000 over failure to treat flystrike and meet welfare needs for hundreds of sheep

    Source: Ministry for Primary Industries

    A Palmerston North sheep farmer has been disqualified indefinitely from being in charge of animals and fined $13,000 for failing to treat flystrike and meet welfare needs of hundreds of sheep.

    Alasdair Donald Currie (65) was sentenced in the Palmerston District Court on 6 charges yesterday (15 October) under the Animal Welfare Act, following a successful prosecution by the Ministry for Primary Industries (MPI).

    Following a complaint in February 2023, MPI sent an animal welfare inspector and a veterinarian to the farm to inspect his animals. They found some sheep recumbent or dead and others affected by fly strike – 2 of them had to be euthanised.

    The farmer was directed to muster all sheep and to take action to address a range of animal welfare issues, including shearing all woolly ewes to prevent flystrike. In April an animal welfare inspector and veterinarian returned to the farm and found Mr Currie had failed to effectively address the flystrike. Some sheep were still in full wool and a total of 48 sheep had either died or had to be euthanised.

    “Overall, 118 sheep were found to be affected by flystrike out of a mob of about 450. Our veterinarian found at least 70 of these sheep were in unnecessary pain and distress because of Mr Currie’s failure to act as directed.” says MPI regional manager Animal Welfare and National Animal Identification and Tracing (NAIT) Compliance, Gray Harrison.

    “This was aggravated by the fact Mr Currie admitted to us that he had not provided his sheep with any flystrike preventative during the 2022-2023 season.

    “The welfare of animals is our number one priority and when we find evidence of deliberate neglect – we will take action.” says Gray Harrison.

    Other animals were affected by parasites such as worms and a lamb that had a severed achilles tendon which occurred during crutching, had to be euthanised.

    Animal welfare is everyone’s responsibility and MPI strongly encourages any member of the public who is aware of animal ill-treatment or cruelty to report it to the MPI animal welfare complaints freephone 0800 00 83 33.

    For further information and general enquiries, email info@mpi.govt.nz

    For media enquiries, contact the media team on 029 894 0328.

    MIL OSI New Zealand News