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Category: KB

  • MIL-OSI Australia: Antarctic season begins

    Source: Australian Government – Antarctic Division

    Australia’s Antarctic science and logistics season has started, with RSV Nuyina leaving Hobart on a six-week resupply voyage to Davis research station.
    The ship has 100 expeditioners on board, two helicopters, a hot pink Antarctic tractor, 240,000 litres of water, 13 tonnes of dry food and more than 20 tonnes of fresh and frozen food.
    It marks the start of an ambitious year for science and infrastructure at Australia’s Antarctic and sub-Antarctic stations.

    “We’re all very excited to be underway,” Voyage Leader Anthea Fisher said.
    “We’ve been chatting to the team who are down at Davis – they’ve been there for a year now – and they’re pretty excited for us to turn up too, to resupply the station and bring them home again.”
    The journey south will take 15 days and require the ship to break ice for the last nine or ten kilometres.
    “At this time of year there’s a section of ice breaking through the pack ice and then the fast ice,” the voyage leader said.
    “We’ll break into that and park about a kilometre out from station and once we’re parked in there, people will be able to just walk off the ship across the ice to station.”
    The trades team travelling to Davis will aim to complete work on a new reverse osmosis plant, which creates drinking water from sea water.
    Along with a third water tank installed last year, it will give the station the water capacity it needs to support station populations in future.
     “Davis station doesn’t have a fresh water source so we have to produce fresh water from salt water via a desalination plant and then store that water for most of the year until we can produce fresh water for a short window in summer,” Construction Supervisor for summer, Tom de Leon, said.
    “A huge amount of planning goes into making sure we don’t run out of materials.
    “There’s no Bunnings down there we can duck into so we have to think very carefully about what we bring and what we use when we’re down there.”
    There are also science project teams on board.
    “We have an important season of science ahead of us this year, kicking off with this first voyage,” Head of the Australian Antarctic Division’s Science Branch, Rhonda Bartley, said.
    Two seabird scientists on board will stop at Davis for a few weeks to monitor local seabird colonies and look for any signs of avian influenza in bird populations and seals near the station. They will then go to Mawson research station for the rest of the summer season to monitor and conduct research on penguins and flying seabirds.
    “We haven’t had any signs of avian influenza in East Antarctica yet but it’s really important that we have people there to look for those signs and assess the impacts of any outbreak,”
     “We’re also very concerned for the health and welfare of our expeditioners so a lot of our planning is around having good biosecurity measures in place and being able to respond to protect our people.”
    Three scientists on the voyage from the Cleaner Antarctica program – which assesses and remediates legacy waste at Antarctic and sub-Antarctic stations – will also carry out work at Davis before transiting to Mawson for the summer’s program of works.
    Three scientific technicians are doing the round trip to maintain key geophysical and atmospheric monitoring equipment on board Nuyina.
    In December, scientists will return to Bunger Hills for the third and final year of the Denman Terrestrial Campaign, which aims to increase our understanding of the glacier’s stability and possible contribution to sea level rise, through research projects carried out inland.
    After the scientists leave in January, trades teams and expeditioners will start the mammoth task of packing the camp up and remediating the site.
    Then in February, RSV Nuyina leaves for the 60-day Denman Marine Voyage, the ship’s first dedicated marine science journey.
    The voyage will take 60 scientists from a range of universities and disciplines to the Denman Glacier region so they can study the system from the sea.
    This content was last updated 14 hours ago on 8 October 2024.

    MIL OSI News –

    January 23, 2025

  • MIL-OSI USA News: Remarks by APNSA Jake Sullivan on the Anniversary of the October 7th  Attacks

    Source: The White House

    Embassy of Israel
    Washington, D.C.

    MR. SULLIVAN:  Thank you all for having me here today. 

    Ambassador Herzog, Mike, thank you — both for your hospitality here and for a year that has been difficult and challenging, but you have always stayed committed to the strength of the U.S.-Israel relationship and see it as larger than any two people, and I’m grateful to you for that.

    And it means a lot to me that I’ve been invited here to mark this solemn occasion with all of you.

    As you know, President Biden spoke with President Herzog earlier today, and he shared his deepest condolences with the President and the people of Israel as they commemorate this godawful anniversary. 

    He lit a candle in the White House together with the First Lady, and they said a prayer in remembrance of those lost, loved ones massacred by terrorists who exalted in the assault and murder of innocent Jewish men, women, and children. 

    Perhaps for the first time ever, this morning, the traditional mourning prayer, El Malei Rachamim, was read in Hebrew in the quiet of the residence of the White House.  One line from that prayer, as many of you know: “God full of mercy…grant rest on the wings of the Divine.” 

    The thousands of miles between Washington and Israel do not feel so distant today.  As the President shared in his statement this morning, we grieve with the families and communities who are still in mourning, just as we share in the excruciating pain of those whose loved ones are still held hostage by Hamas, including American citizens. 

    I’ve spent a lot of time with the families of the American hostages over the past year.  I remain humbled by their resilience and their courage.  Instead of succumbing to the dark paralysis of grief, they are working every day to secure the return of their loved ones — always thoughtful, always constructive, always pushing us hard, as they should. 

    I look around this room and I see colleagues here that I’ve gotten to know very, very well through these challenging times.  In the days that followed October 7th, our defense, intelligence, and national security teams were in constant touch.  At President Biden’s direction, we moved military assets into the region, including carrier strike groups with their destroyer escorts and air wings, the finest on the planet, to protect U.S. forces in the region and, yes, to support the defense of the State of Israel. 

    I traveled with President Biden to Israel on October 18th, the first president to visit Israel in a time of war.  And I was with him this past Tuesday.  He was scheduled to be in the Oval Office for his annual Rosh Hashanah call with Jewish leaders.  Instead, he was in the Situation Room, where, for the second time in five months, he ordered the U.S. military to take action to defend Israel from a significant attack by Iran. 

    Side by side, U.S. naval destroyers joined Israeli air defense units in again intercepting a rainfall of inbound missiles — ballistic missiles from Iran.  We thank God we were successful in rendering that attack ineffective, but we remain highly vigilant to the further threats and attacks from Iran and its proxies, including Hamas, Hezbollah, and the Houthis.

    Backed by the ironclad security partnership of the United States, Israel has demonstrated its remarkable capacity, including through impressive operations that killed terrorists with Israeli and, yes, with American blood on their hands. 

    The challenge going forward is to turn tactical wins in battle into a strategy that secures Israel’s people and its future.  That takes real discipline, it takes courage, it takes foresight to match the conduct of war to a clear and sustainable set of objectives and to turn tactical advantage into enduring strategic gains.  That is never easy, but it’s imperative, and we are here to work with you on that. 

    Because as I look around this room, I see colleagues that I haven’t just gotten to know in the crucible of the past year but in the work that preceded it, a project to make real the vision of broader peace, stability, and economic connectivity across the Middle East and to make real a future where Israelis and Palestinians can live alongside one another in security, dignity, self-determination, and peace.

    As the President said in his statement this morning, “I believe that history will also remember October 7th as a dark day for the Palestinian people because of the conflict that Hamas unleashed that day.  Far too many civilians have suffered far too much during this year of conflict — and tens of thousands have been killed, a human toll made far worse by terrorists hiding and operating among innocent people.” 

    Ambassador Herzog spoke in his remarks of the Jewish commandment that every innocent life has value, whether it’s American or Israeli, Lebanese or Palestinian.  Every innocent life.

    In my family, we read the poet John Donne, who said, and I quote, “Any man’s death diminishes me, / because I am involved in mankind.”  And we have to bring that spirit to this conflict as well. 

    We have continued to actively pursue a pathway to a future where Israel enjoys normalized relations with all of its Arab neighbors, where Palestinians have a state of their own, and where Israel’s security is assured forever. 

    And we have continued to stand strong against the antisemitism that still burns in America, around the world, and that has gotten oxygen since October 7th, as the Ambassador said.  And we will continue, from the President through every member of his administration, to stand firmly against it. 

    I’m not blind to the difficulties of this moment.  I’m not blind to their deep roots.  The challenges are many.  The suffering and trauma is real, and it’s with me always.  And no one is ever criticized for predicting that things will only get worse in the Middle East.  The hard thing is to push past the hopelessness and put the pieces down that build toward a genuinely brighter future, even as we navigate the heightened risks and exacting human toll of the present day. 

    This is a focus of my own conversations, President Biden’s conversations, the Vice President’s conversations, the Secretary of State, every member of our team, with leaders across the Middle East who recognize that this future I’m describing can still be the ultimate legacy of October 7th.  And we stand ready to work with all of you, everyone here, everyone of good faith across the region. 

    But this future, as you all know and has been shown to us so many times, is far from assured.  We have to work to make it so. 

    So, may God protect our troops and watch over the hostages.  May the memory of those lost be a blessing, just as the joyousness of their lives remains our light and inspiration forward. 

    Thank you.  (Applause.)

    MIL OSI USA News –

    January 23, 2025

  • MIL-OSI USA: Senator Marshall and Colleagues Sound Alarm After DHS Whistleblowers Exposes Biden-Harris Breaking the Law

    US Senate News:

    Source: United States Senator for Kansas Roger Marshall
    Washington, D.C. – U.S. Senator Roger Marshall, M.D. joined a letter led by Senator Chuck Grassley (R-IA) demanding President Joe Biden and Vice President Kamala Harris collect DNA samples from every immigrant the Department of Homeland Security (DHS) encounters, per the DNA Fingerprint Act of 2005.  
    Legally protected whistleblowers have exposed how DHS’s failure to collect DNA hampers law enforcement efforts to stop violent crime. Notably, DHS missed three separate opportunities to gather DNA from the illegal immigrant who murdered Rachel Morin, a Maryland mother of five.  
    “It is beyond heartbreaking to know that my daughter’s brutal death could have been prevented. This isn’t just a bureaucratic oversight; it’s a deadly failure that turned a protective measure into a hollow promise,” said Patty Morin, mother of Rachel Morin. “President Biden and Vice President Harris’ reckless disregard for border security puts every American family in imminent danger. How many more precious lives have to be lost before they decide to protect the people they were elected to serve?”  
    “Following the law, protecting whistleblowers and ensuring the safety of American citizens like Rachel Morin shouldn’t be controversial,” Senators Marshall and Grassley wrote to President Biden and Vice President Harris. “The Biden-Harris administration’s DHS must follow the law—the consequences are stark when they don’t.” 
    Read the full letter HERE.  
    Background: 
    The DNA Fingerprint Act of 2005 requires federal law enforcement to collect DNA from every individual Customs and Border Protections (CBP) arrests, charges, convicts or detains. Yet, per whistleblower disclosures, DHS has collected DNA samples from less than than approximately 40 percent of the more than 10 million known illegal immigrants who have entered the country during the Biden-Harris administration.   Whistleblowers additionally revealed that a CBP official who recently visited major border facilities in Arizona and California did not observe any DNA collection taking place. As a result of disclosing DHS’s failures to Congress, whistleblowers have suffered long-term, severe retaliation. 

    MIL OSI USA News –

    January 23, 2025

  • MIL-OSI Economics: Targeted Policies for Digital Creative Industries Can Drive Economic Growth in Asia and Pacific

    Source: Asia Development Bank

    MANILA, PHILIPPINES (8 October 2024) — Coherent national strategies that develop talent and expand digital creative industries can help developing countries tap into the global creative economy, generating high-quality jobs that contribute to economic growth, according to a new report published today by the Asian Development Bank (ADB).

    “Digital disruption of creative industries can present huge economic potential in Asia and the Pacific,” said ADB Director General for Climate Change and Sustainable Development Bruno Carrasco about the launch of A Review of Digital Creative Industries in Asia: Opportunities and Policies to Foster Growth and Create High-Quality Jobs.

    “Yet the policy environment does not always allow creatives to thrive and connect with the global value chain,” added Mr. Carrasco. “This report can help industry and policy makers shape Asia and the Pacific’s digital creative industries, foster opportunities to bridge the region’s rich cultural heritage with the rest of the world and drive economic growth.”

    Based on more than 40 interviews with key individuals across India, Indonesia, Thailand, and Viet Nam—including with industry associations and creative professionals in the film, gaming and music industries—the report highlights opportunities for emerging countries to boost their digital creative industries, assess domestic talent development, and encourage policies that create high-quality jobs.

    While there is strong demand from global entertainment companies to produce local content and work with local talent, there are not enough skilled local producers, screenwriters, and programmers. To address this, the report recommends that governments and industry define the essential knowledge and skills required to perform different creative roles, build lifelong training systems, incentivize businesses to upskill their workers, and improve creative industry working standards.

    Such long-term strategies have helped creative powerhouses—such as Canada, the Republic of Korea, Singapore, and the United Kingdom—to grow their domestic talent pools and attract foreign investment. The report distills key lessons from these countries that can help guide policymakers aiming to develop creative industries.

    Another barrier identified is a severe lack of funding in the four countries examined in South and Southeast Asia. This limits the potential for local film producers, game developers, and musicians to grow, even as high-speed internet, streaming platforms, and portable devices have enabled them to reach much wider audiences.

    Establishing structured funding facilities, including loans, credit guarantees, grants, and venture capital financing, can transform creative ideas into concrete projects, according to the report. With sufficient support from the government or through public–private collaboration, these businesses can be provided with a financial safety net to innovate.

    The report was produced with support from Netflix, the video entertainment streaming service. As ADB’s knowledge partner, Netflix provided experts to be interviewed for the report and enabled access to key stakeholders in the digital creative industry. The work on the report is part of the two organizations’ ongoing collaboration to generate knowledge and boost Asia and the Pacific’s creative industries.
        
    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

    MIL OSI Economics –

    January 23, 2025

  • MIL-OSI Economics: Additional ADB Grant to Strengthen Energy Security in Central Asia

    Source: Asia Development Bank

    DUSHANBE, TAJIKISTAN (8 October 2024) — The Asian Development Bank (ADB) has approved additional grant financing of $15 million to help Tajikistan scale up an ongoing project to reconnect the country’s power system to the Central Asian Power System (CAPS) through interconnections with neighboring Uzbekistan.

    “Through the Central Asia Regional Economic Cooperation (CAREC) program, ADB actively promotes regional power trade among countries in Central Asia and beyond,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “Our support improves the sustainability of the regional power system and helps reduce greenhouse gas emissions in the region.”

    The additional financing will construct a new 22 kilometer, 500-kilovolt transmission line in northern Tajikistan—between the country’s Sughd substation and the New Syrdarya substation in Uzbekistan. It will scale up the transmission capacity for power exports and imports among CAPS countries, which include Kazakhstan, the Kyrgyz Republic, Tajikistan, and Uzbekistan, and strengthen infrastructure to prevent grid failures which lead to blackouts.

    The project will also help ensure Tajikistan’s power system is ready to provide regulating capacity for the smooth integration of renewable energy in the region. In the long term, it will become a key component of the power evacuation scheme for the Rogun hydropower plant in Tajikistan.

    Tajikistan joined ADB in 1998. For 26 years, ADB has supported a wide range of sectors from strategic road and energy infrastructure to health, education, agriculture, urban development, public sector management and finance for a total of over $2.7 billion in assistance—including over $2.1 billion in grants.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

    MIL OSI Economics –

    January 23, 2025

  • MIL-OSI Economics: New ADB Country Director for Azerbaijan Assumes Office

    Source: Asia Development Bank

    BAKU, AZERBAIJAN (7 October 2024) — The Asian Development Bank (ADB) has appointed Sunniya Durrani-Jamal as its new Country Director for Azerbaijan. She joined the Azerbaijan Resident Mission today to officially commence her role.

    Ms. Durrani-Jamal will lead ADB’s operations in Azerbaijan and manage the bank’s relationships with the government and other stakeholders. She will oversee the preparation and implementation of the bank’s new country partnership strategy (CPS). The new CPS will build on ADB’s existing work in Azerbaijan, and its strategic focus areas will be aligned with the government’s development strategy and ADB’s Strategy 2030.

    “It is an honor to lead ADB’s efforts in Azerbaijan, a country of rich culture and significant economic potential,” said Ms. Durrani-Jamal. “My priority is to extend ADB’s enduring collaboration with the government, help diversify the economy and improve the quality of life for people in Azerbaijan. This includes expanding renewable energy, addressing climate change, and helping the Caucasus nation transition to a private-sector-led green economy.”

    Azerbaijan’s 10-year development strategy, Azerbaijan 2030: National Priorities for Socio-Economic Development, outlines the country’s ambitions to develop a sustainable and competitive economy, foster an inclusive society, improve human capital, transition to green growth, and improve infrastructure.

    As Asia and the Pacific’s climate bank, ADB is also supporting Azerbaijan’s Presidency of COP29, including via capacity building ahead of the landmark United Nations climate summit set to take place in Baku next month

    Ms. Durrani-Jamal has more than 25 years’ professional experience, including 16 years with ADB where she has held key senior roles. These include country director for Cambodia, senior advisor to ADB’s vice president for east Asia, southeast Asia, and the pacific; and senior economist.

    Ms. Durrani-Jamal holds a master’s degree in economics (human development) from the University of Sussex, United Kingdom, and a master of science in economics (monetary policy) from Quaid-i-Azam University, Pakistan. She succeeds outgoing Country Director Candice McDeigan who held this position from 2021.

    Since Azerbaijan joined the bank in 1999, ADB has committed more than $5 billion in sovereign and private sector assistance, including in transport, energy, health care, and agriculture.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region.

    MIL OSI Economics –

    January 23, 2025

  • MIL-OSI Asia-Pac: Appointment of Director of Hong Kong International Legal Talents Training Office announced

    Source: Hong Kong Government special administrative region

    Appointment of Director of Hong Kong International Legal Talents Training Office announced
    Appointment of Director of Hong Kong International Legal Talents Training Office announced
    ******************************************************************************************

         The Department of Justice announced today (October 8) that following an open recruitment exercise, Dr Yang Ling will take up the appointment as the Director of the Hong Kong International Legal Talents Training Office. Dr Yang will take up the appointment on November 1. The Secretary for Justice, Mr Paul Lam, SC, welcomed the appointment.     Commenting on Dr Yang’s appointment, Mr Lam said, “Dr Yang is a recognised scholar in international legal and dispute resolution with extensive management experience, including from her time at the Hong Kong International Arbitration Centre. I am confident that she will be able to lead the office to take forward the policy initiatives of developing Hong Kong as a capacity-building centre for legal talent in domestic, foreign and international law.”     The Hong Kong International Legal Talents Training Office has been set up to serve as the co-ordinating body to take forward the establishment of the Hong Kong International Legal Talents Training Academy set out in the 2023 Policy Address. The Office will also serve as the secretariat for the Hong Kong International Legal Talents Training Expert Committee, which has been established and formed by three advisory boards comprising eminent legal experts and scholars from renowned international, Mainland and local legal organisations, and universities as members. Members of the Expert Committee are appointed in their personal capacity, and the list of membership is set out in the Appendix.     Capitalising on Hong Kong’s bilingual common law system and international status, the Academy will regularly organise practical training courses, seminars, international exchange programmes and more to promote exchanges among talent in regions along the Belt and Road. It will also provide training for talent in the practice of foreign-related legal affairs for the country, and nurture legal talent conversant with international law, common law, civil law and the country’s legal system. This initiative will be conducive in consolidating Hong Kong’s position as an international legal and dispute resolution services centre in the Asia-Pacific region.     A brief biographical note of Dr Yang is set out below:     Dr Yang was admitted to the Chinese Bar in 2004 and currently holds the position of the Deputy Secretary-General and Head of China Relations of the Hong Kong International Arbitration Centre (HKIAC). She obtained an LL.M. in International Law in 2006 and a PhD in 2009 from Wuhan University. Prior to joining the HKIAC in 2018, she was an Associate Professor at the East China University of Political Science and Law where she taught international arbitration for more than eight years. In addition, she was a visiting scholar at the University of Aix-en-Provence Marseille III in 2008 and at Boston University School of Law in 2017. Dr Yang has published widely on issues of international dispute resolution and arbitration in China, and currently serves as Executive Editor-in-Chief for the Shanghai International Arbitration Review. She has also been appointed as an arbitrator.

     
    Ends/Tuesday, October 8, 2024Issued at HKT 11:30

    NNNN

    MIL OSI Asia Pacific News –

    January 23, 2025

  • MIL-OSI New Zealand: Funding and payments – MPTT

    Source: Tertiary Education Commission

    For the full requirements, see the MPTT funding conditions for the relevant year.
    Funding mechanism
    The Minister responsible for tertiary education issues the MPTT funding mechanism. The funding mechanism outlines the general form and essential components of the fund. It provides the mandate for the Tertiary Education Commission (TEC) to allocate the funding and what the funding can be used for, and details how we administer the fund.
    Funding is agreed off-Plan via a funding confirmation letter.
    A TEO that receives MPTT funding is required to:

    The overall amount of MPTT funding available is set through the Government’s annual budget process. We determine the appropriate amount of MPTT funding for a TEO through an off-Plan assessment process.
    Funding allocation and payments
    Funding allocations, including any amendments, are available through the My Allocations and Payments app on Ngā Kete.
    MPTT funding is paid in accordance with your funding confirmation documentation, which specifies the amount of funding payable for consortium activities and/or fees top-ups, and/or brokerage services (as applicable).
    For the calculation of indicative allocations see the methodology from the relevant year. The most recent information is at the top.
    For more details regarding your specific allocation, please contact customerservice@tec.govt.nz or your Relationship Manager.
    Fees top-ups and brokerage services (first 50%)
    MPTT fees top-ups and brokerage services is paid in equal monthly instalments, except for the brokerage incentive success payment (second 50%).
    Brokerage success (second 50%)
    Brokerage success payments (second 50%) are made three times per year, based on the MPTT Actuals reports provisioned on Workspace 2.
    For the TEO to receive the success payment:

    the learner must achieve the successful outcome within 18 months of leaving the MPTT programme, and
    the TEO must report the successful outcome through Workspace 2 using the provisioned MPTT Actuals template.

    Both brokerage payments are made to the TEO that the learner first enrolled with.
    Consortium activities funding
    MPTT consortium activities funding is paid in equal monthly instalments.
    Learner Support Funding
    As of 30 June 2020, Learner Support Funding has replaced the MPTT Transitional Tools Grant. Learner Support Funding is allocated to each consortium. 
    Learners have access to the support funding when they need it, as assessed by the consortium.
    Consortia will receive the learner support funding via monthly instalments as part of their consortium funding.
    We determine the amount of funding that each consortium receives by using the number of learners the consortium is funded for. Any unspent funding will be recovered.
    Funding rates
    This page provides information on the MPTT funding rates.
    Interactions with Fees Free
    MPTT interaction with Fees Free
    If a learner enrolled in MPTT on or after 1 July 2020, their MPTT training does not count towards the use of a learner’s fees-free entitlement, or count as prior study. This means learners will not be disadvantaged by enrolling in MPTT initiatives.
    Learners must meet all other Fees Free eligibility criteria to qualify to receive Fees Free.
    See the Fees Free website for more information on eligibility requirements.
    Fees free for learners who completed an MPTT course that started after 1 July 2020
    If a learner completed an MPTT course that started on or after 1 July 2020, this study will not impact their eligibility for Fees Free tertiary education. If the learner has previously accessed Fees Free, and has remaining entitlement, they may be able to use this at a later date (should they meet the criteria applicable at the time of enrolment in further study).
    Credits obtained from MPTT courses that started on or after 1 July 2020 are not included as part of the prior study criteria 60 credits limit. 
    Fees Free for learners who completed an MPTT course prior to 1 July 2020
    Any MPTT study that started before 1 July 2020 will continue to be included in prior study calculations for fees-free eligibility.
    This table shows entitlement based on when a learner started MPTT

    MPTT course start/end date

    Outcome

    Starts on, or after, 1 January 2018, and ends prior to 30 June 2020

    This study will count towards the use of a learner’s fees-free entitlement.

    Starts on, or after, 1 January 2020 and continues after July 2020

    See table below.

    Starts on, or after, 1 July 2020

    The study will not count towards the use of a learner’s fees-free entitlement.

    This table shows the proportion of a course that does count towards a learner’s fees-free entitlement use.

    Course start date 

    Percentage of course post 1 July 

    Proportion of course that counts towards entitlement use

     1 January – 30 April 2020

     Less than 50%

     100%

     1 January – 30 April 2020

     50% to less than 75%

     50%

     1 January – 30 April 2020

     75% or more

     0%

     1 May – 30 June 2020

     33% or more

     0%

     1 May – 30 June 2020

     Less than 33%

     100%

    Funding wash-ups
    For the calculation of funding wash-ups see the methodology and technical specifications from the relevant year. The most recent information is at the top.

    MIL OSI New Zealand News –

    January 23, 2025

  • MIL-OSI Economics: RBI to conduct 3-day Variable Rate Reverse Repo (VRRR) auction under LAF on October 08, 2024

    Source: Reserve Bank of India

    On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 08, 2024, Tuesday, as under:

    Sl. No. Notified Amount
    (₹ crore)    		 Tenor
    (day)    		 Window Timing Date of Reversal
    1 50,000 3 11:00 AM to 11:30 AM October 11, 2024
    (Friday)

    2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1244

    MIL OSI Economics –

    January 23, 2025

  • MIL-OSI Security: International appeal seeks to uncover identities of 46 deceased women

    Source: Interpol (news and events)

    8 October 2024

    LYON, France – Six European countries and INTERPOL have joined forces to solve 46 cold cases involving unidentified women whose remains were found across Europe years ago.

    Most of the women were either murdered or had died in suspicious or unexplained circumstances. Some of the cases date from decades ago.

    The initiative builds on the success of the Identify Me appeal launched in May 2023 to identify 22 deceased women, with some 1,800 tips received from the public. It has now been expanded to include additional cold cases from Belgium, Germany, and the Netherlands, as well as cases from new participating countries France, Italy, and Spain.

    The appeal highlights the importance of public involvement and international cooperation in solving cold cases. It provides hope that crucial leads can be generated, so more of these women can be identified and that justice is served if murder has been established.

    Identify Me has already seen noteworthy results after a case was solved after 31 years. Within two days of the launch of the first phase of Identify Me on 10 May 2023, relatives of Rita Roberts in the United Kingdom contacted the appeal hotline after they recognized their relative’s tattoo from news coverage.

    Rita Roberts was 31 when she left Cardiff, Wales in February 1992. Her family last heard from her in May 1992, and her unidentified body was discovered in Antwerp on 3 June 1992. An investigation determined that she was a victim of murder. That case remains part of the international effort to request information, identify and seek justice for these deceased women.

    Celebrity ambassadors

    The appeal features the strong support – including in the video below – of the following leading actresses, singers, and sports figures from the participating countries, to help raise awareness of the cold cases and encourage public involvement:

    Belgium: Veerle Baetens and Axelle Red

    France: Marie-José Pérec and Sarah Biasini

    Germany: Regina Halmich and Katrin Müller-Hohenstein

    Italy: Carolina Kostner and Alice Bellandi

    Netherlands: Carice van Houten and Stien den Hollander

    Spain: Luisa Martin and Mabel Lozano

    The cold cases

    Details on each case have been made available on INTERPOL’s Identify Me web page, depicting facial reconstructions of some of the women.

    There are also images of items such as jewellery and clothing which were discovered at the various land and water sites where the women’s remains were abandoned.

    These cases underscore the difficulties in identifying human remains, often found years ago in remote or isolated locations, as well as the challenge of tracing some of these deceased women back to their home countries.

    INTERPOL Secretary General Jürgen Stock said:

    “Our goal in the Identify Me campaign is simple. We want to identify the deceased women, bring answers to families, and deliver justice to the victims. But we can’t do it alone. That is why we are appealing to the public to join us in this effort. Their help could make the difference.

    “Even the smallest piece of information can be vital in helping solve these cold cases. Whether it is a memory, a tip, or a shared story, the smallest detail could help uncover the truth. The public could be the key to unlocking a name, a past, and in delivering long-overdue justice.”

    Role of forensics in cold cases

    The participating member countries and INTERPOL are working closely together in the appeal to leverage their analytical capabilities and advanced forensic methods, such as DNA profiling, facial reconstruction, and isotopic analysis. These techniques can provide significant clues about the victim’s origin, lifestyle, and cause of death. 

    Since 2021, INTERPOL has been providing investigators with a new global tool, the I-Familia database, which contains some 20,000 profiles from almost 80 countries. It has already solved cases by helping identify unknown bodies through international family DNA kinship matching.

    Such cases draw on the voluntary DNA contributions made by relatives of the missing, and underline the role played by the public and partners when it comes to identifying missing persons.

    INTERPOL Black Notices

    INTERPOL has published a Black Notice alert for each of the unknown women, to seek information on the unidentified bodies and determine the circumstances of their death.

    While these alerts are intended for the police only, Identify Me represents the first time INTERPOL has publicly released extracts from Black Notices.

    Black Notices can include information on the location where the body was found, biometric information (DNA, fingerprints, facial images), dental charts, physical descriptions of the body or clothing, and any other details relevant to identifying the deceased.

    What you can do

    Each of these deceased women has a story and relatives who deserve answers. We urge anyone with information to come forward and assist in this vital effort.

    Members of the public, particularly those who remember a missing friend or family member, are invited to consult the INTERPOL website and contact the relevant national police team should they have any information. Details can be found on http://www.interpol.int/IM

    For biological relatives who believe one of the women could be their missing loved one, national police can liaise with INTERPOL for international DNA comparison.

    Contact forms are at the bottom of each case summary, providing a crucial link for families seeking answers and justice.

    MIL Security OSI –

    January 23, 2025

  • MIL-OSI Australia: Sharing the National Collection: Griffith gets decked out in dazzling jewels

    Source: Australian Ministers for Regional Development

    A stunning display of almost 40 pieces of Australian contemporary jewellery from the National Gallery will travel to Griffith Regional Art Gallery in regional NSW for two years as part of the Albanese Labor Government’s Sharing the National Collection program. 

    The pieces – including brooches, rings, necklaces, pendants, bracelets and more – were created by a variety of Australian artists from the 1970s to the 2010s.

    The display will complement a selection of works from the Griffith Regional Art Gallery’s own collection and will coincide with the opening of the National Contemporary Jewellery Awards on 8 November 2024.

    Minister for the Arts, Tony Burke, said the Sharing the National Collection program is already having a positive impact on regional galleries.

    “We’ve seen participating galleries report a serious uptick in visitors as a result of being able to display locally-significant pieces from the National Gallery, and I’m sure it will be the same for Griffith.

    “At any one time 98 per cent of the National Gallery’s collection is in storage. Thanks to this program these pieces are travelling the distance so you don’t have to – being seen and appreciated right across the country.”

    Senator for New South Wales Deborah O’Neill said, “The loan of these beautiful pieces will be the perfect counterpart to the Griffith Regional Art Gallery’s celebrated Jewellery Awards, I hope both the art and the awards will attract even more visitors to the gallery.”

    National Gallery Director Dr Nick Mitzevich said, “This partnership between the National Gallery and Griffith Regional Art Gallery has been made possible through the Sharing the National Collection initiative. 

    “It will bring a significant selection of jewellery to the Western Riverina, reflecting the venue and region’s important contemporary jewellery collection.”

    Raymond Wholohan, Griffith Regional Gallery Coordinator said “This is an incredible opportunity to elevate the Griffith Regional Gallery’s audience around our bi-annual contemporary Jewellery Prize which coincides with the showcasing of treasures from the National Gallery through the Sharing the National Collection initiative.

    “The works of arts that will come on loan reflect the Australian Jewellers represented in our own collection, providing students and artist in the region with a unique opportunity to learn about Australian contemporary jewellery practice in our own community.”

    Sharing the National Collection is part of Revive, Australia’s new national cultural policy, with $11.8m over four years to fund the costs of transporting, installing and insuring works in the national art collection so that they can be seen across the country for extended periods.

    The works can be viewed via the National Gallery’s website.

    Regional and suburban galleries can register their expressions of interest via this link. 

    MIL OSI News –

    January 23, 2025

  • MIL-OSI New Zealand: Plan ahead for three nights partial road closures of SH6, Kawarau Gorge

    Source: New Zealand Transport Agency

    NZ Transport Agency Waka Kotahi (NZTA) is advising drivers to plan ahead for upcoming night closures on sections of SH6 through the Kawarau Gorge, between Cromwell and Frankton. 

    Three separate sections of SH6 will be closed over three nights, Monday to Wednesday/Thursday morning, for essential post-winter maintenance works at the times listed below: 

    Monday, 14 October  – Thursday morning 17 October: Road closed from 9pm to 5:30am. The road will be under a soft closure and traffic will be piloted through the site.  Expect delays of up to half an hour, says Peter Standring, Maintenance Contract Manager for NZTA in Central Otago.

    Because the Kawarau Gorge is sensitive to weather conditions, work may be postponed at short notice to keep workers safe, says Mr Standring.   

    NZTA is urging drivers to plan their journeys around the closures, and if possible to postpone travel during the closure times. 

    Please check the NZTA on-line Journey Planner at http://www.journeys.nzta.govt.nz(external link) for the latest up to date road conditions.

    MIL OSI New Zealand News –

    January 23, 2025

  • MIL-OSI New Zealand: Spring is sprung, the grass is riz… I wonder where those roadworks is?*

    Source: New Zealand Transport Agency

    Spring is upon us, and so too is the summer roadworks programme on Southland’s state highways.

    “Two road reconstructions are in the final stages of being completed at Wallacetown and Lowther, and another is underway on SH6 near Centre Bush.  We appreciate the patience of road users while we have had traffic management at these sites,” says Justin Reid, Maintenance Contract Manager for NZ Transport Agency Waka Kotahi (NZTA) in Southland. “Two more reconstruction sites near Mossburn and another near Balfour will also be underway in the next few weeks.” 

    “Our Highways South team will be reconstructing and resurfacing highways from now until the end of March as daylight hours increase, and the warmer temperatures and dry air help new seals stick as intended to the road surface,” he says.  “Major construction and resurfacing work are not possible in Southland outside of this time due to our cooler temperatures.”

    Oreti highway rehabilitation currently under construction.

    “We know that road works can be disruptive for all road users and often residents too, but these are critical reconstruction projects which will improve everyone’s journeys long-term.” 

    • The first road rehabilitation projects began mid-September near Wallacetown, in Lowther and early October Centre Bush. 
    • There is asphalting planned for inner-city Invercargill in the New Year also, with details being finalised.
    • All work is funded through the State Highway Maintenance and Pothole Prevention activity classes in the National Land Transport Programme (NLTP).

    Any road closures required for works will be notified closer to the time.

    The compendium of Southland road rehabilitation projects

    Before the end of the season in March, Highways South is aiming to complete 11 projects:

    • SH1 Bluff highway at Kekeno Place
    • SH6 Dipton-Winton highway at Centre Bush
    • SH6 Five Rivers-Lumsden highway south of Five Rivers
    • SH6 Athol-Five Rivers highway at Jollies Hill
    • SH94 Mossburn-Lumsden highway east of Mossburn township
    • SH94 Te Anau-Mossburn highway west of Mossburn
    • SH94 Lumsden-Riversdale highway west of Balfour
    • SH96 Glencoe highway at Brydone-Glencoe Road
    • SH99 at Lorneville overbridge
    • SH99 Riverton Wallacetown highway west of Wallacetown
    • SH99 Main Road Tuatapere at Jenkins Road.

    “NZTA and our Highways South crews acknowledge that this work will cause disruption and appreciates the patience of our community,” says Mr Reid.   “Give them a wave and keep the mood on the highways relaxed this summer.”

    If there are concerns or questions around these works, road users can call 03 211 1561 to speak with the Highways South team, or sign up for email updates regarding interruptions and possible delays on Southland highways via our Facebook page:

    wwe.facebook.com/HighwaysSouthNZ(external link)

    *(Apologies to the poet, be it Anon, Ogden Nash, or ee cummings)

    MIL OSI New Zealand News –

    January 23, 2025

  • MIL-OSI New Zealand: New local road layout between Bethlehem and Tauriko – Takitimu North Link 

    Source: New Zealand Transport Agency

    There is now a new road layout between Bethlehem and Tauriko as part of the Takitimu North Link project.  

    Finishing the local roads in this area makes way for the 4-lane expressway to be built underneath.  

    This big job has seen the relocation of underground cables and pipes, installation of 1660m of subsoil drains, 15,000 cubic metres of dirt moved, construction of the new 100m long bridge and associated tie-in works, as well as construction of the new road and roundabout at St Andrews Drive, and the relocation of Harrison and Cambridge roads. 

    A massive 445 truck and trailer loads of pavement aggregates and over 50,000 litres of bitumen were delivered to site.  

    “Working with our partners Tauranga City Council we have been able to improve the Cambridge/Moffat roads intersection, which was previously a tricky spot for road users. Now there are better sight lines and a safer intersection with left and right turning lanes,” says NZ Transport Agency Waka Kotahi Senior Manager Project Services, Jo Wilton. 

    Works in the area have also allowed for future development of the Smiths Farm area, with a 25m bridge under construction and a fourth leg from St Andrews Drive roundabout, which will provide access. 

    “Completing extensive work in this area is another great step forward for the project. We’re grateful to our neighbours and the surrounding community for their support and patience as we’ve moved through the different phases. We also acknowledge the mahi of local hapū, who have carried out kaitiaki responsibilities throughout, and played an important role,” Ms Wilton says. 

    There are a couple of finishing touches to do in the coming week as the final chip beds in, including final line-marking. 

    Crews expect to break through the ground underneath Cambridge Road overbridge, as part of the 2024/25 earthworks programme soon, to link the new road sections on either side of Moffatt Road. 

    The project has enjoyed a productive winter earthworks season shifting 120,000 cubic metres of material in the cooler months of the year.  

    “We are now preparing for the upcoming earthworks season with a target of shifting a further 600,000 cubic metres of material over the warmer months,” says Ms Wilton. 

    Major work sites are at SH2/Fifteenth Ave, State Highway 29/Takitimu Drive Toll Road, and Minden Road, Te Puna. These sites will have traffic management in place and changes to road layout while works are underway.  

    Notes to editor 

    Service relocations on Cambridge Road:   

    • 1660m of watermain 
    • 1900m of communication 
    • 2130m of power 
    • 155m of sewer main  

    Takitimu North Link Stage 1 will connect Tauranga and Te Puna with a new 4-lane expressway. This Road of National Significance contributes to building a transport network that enables people and freight to move around efficiently, quickly, and safely.   

    Contractors Fulton Hogan/HEB Joint Venture are designing and constructing the project, with BBO the principal’s advisor. The design of Takitimu North Link is being delivered by Beca, with Holmes Consultancy Limited Partnership as a subconsultant. 

    Read more here:

    Cambridge Road

    The intersection at Cambridge/Moffat roads, to St Andrews Drive roundabout, opened 7 October 2024.

    The connection from St Andrews Drive roundabout to Cambridge/Moffat roads opened 7 October 2024, the new bridge at Cambridge Road is pictured in the background – earthworks are due to break through underneath this summer.  

    Pavements crew make the finishing touches to the local roads between Bethlehem and Tauriko, as part of works on the Takitimu North Link project. 

    Artist impression – bridge at Cambridge Road, Takitimu North Link.

    MIL OSI New Zealand News –

    January 23, 2025

  • MIL-OSI New Zealand: Here comes the Summer Road Renewals

    Source: New Zealand Transport Agency

    The Bay of Plenty will benefit from its share of more than $2 billion in funding for nationwide pothole prevention and maintenance over the next 3 years, with a significant volume of road renewals planned for the region.

    This funding boost enables NZ Transport Agency Waka Kotahi (NZTA) to focus on road rebuilding and improving the overall network condition through more intensive treatments and increasing the road surface quality.

    Approximately 110 lane kilometres in the Bay of Plenty will either be rebuilt or resealed over coming summers, with a significant portion of this planned to take place over the next 6 months.

    “The Bay of Plenty network is heavily used every day by a variety of road users, including freight operators, commuters, and tourists,” says Sandra King, NZTA’s Bay of Plenty System Manager.

    “To complete the volume of road renewals needed, people can expect disruption across the network. Road rebuilding can often involve replacing all or most of the structural road layers, it’s intensive work with some sections under construction for extended periods of time.

    “We’re looking at how we can minimise disruption by thinking differently and challenging ourselves and our suppliers to be as efficient and effective as possible. This includes using methods such as road closures to allow suppliers to get in and complete work in a quicker and safer way, and with fewer road cones,” Ms King explains.

    While there will be various maintenance worksites across the Bay of Plenty this summer, there is a focus on State Highway 29 (SH29), specifically near Hanga Road, the Kaimai Café and the Kaimai School. To minimise impacts to traffic, this work will be done at night and starts this month.

    Some renewal sites have kicked off early, crews are making the most of the weather now with 2 worksites on State Highway 2 (SH2) between Paengaroa and Ōtamarākau already halfway through construction.

    As much work as possible will be completed before Christmas, then there will be a short break over the holiday period. Workers will then get back into it until autumn sets in.

    “With so much work taking place it is inevitable road users will come across worksites and traffic management. When you see roadworkers out on the road, travel safely through their worksites, follow signage and any instructions you receive, and give them a wave to say thanks for their tremendous work,” says Ms King.

    The sites that will be the most disruptive over the summer months are indicated on the maps  attached.

    This work is funded through the State Highway Maintenance and Pothole Prevention activity classes in the National Land Transport Programme (NLTP).

    MIL OSI New Zealand News –

    January 23, 2025

  • MIL-OSI Australia: Italy

    Source: Australia Safe Travel Advisories

    We’ve reviewed our travel advice for Italy and continue to advise exercise normal safety precautions. From November, the new European Entry/Exit System will start for all non-EU nationals, including Australians, travelling in or out of the Schengen Area, which includes Italy (see ‘Travel’).

    MIL OSI News –

    January 23, 2025

  • MIL-Evening Report: Productivity is often mistaken for wages. What does it really mean? How does it work?

    Source: The Conversation (Au and NZ) – By David Peetz, Laurie Carmichael Distinguished Research Fellow at the Centre for Future Work, and Professor Emeritus, Griffith Business School, Griffith University

    Alexey_Rezvykh/Shutterstock

    Australia’s productivity growth has reverted to the same stagnant pattern as before the pandemic, according to the Productivity Commission’s latest quarterly report.

    Productivity is complex and often misunderstood in media and policy debates. So before we read too much into this latest data, here are six key things to understand about productivity.

    1. It’s about quantities, not costs

    Productivity “measures the rate at which output of goods and services are produced per unit of input”. So it’s about how many workers does it take to make how many widgets?

    Most Australian workplace managers don’t know how to measure productivity correctly.

    If someone says “higher wages mean lower productivity”, they don’t know what they’re talking about. Wages aren’t part of the productivity equation. People often cite “productivity” as a reason for a policy they like because they can’t say “we like higher profits”.

    In fact, high wages can encourage firms to introduce new technology that improves productivity. If labour becomes more expensive, it may be more profitable for firms to invest in labour-saving technology.

    But lower productivity isn’t always a bad thing. Sometimes higher selling prices can lower productivity. It seems odd, but works like this: if prices for commodities such as iron ore or coal are high, it becomes profitable for mining companies to dig through more rock to get to it.

    This takes more time. But it’s now worth extracting these small quantities, because they’re so valuable. For this reason, with high commodity prices, mining labour productivity fell by 13% between 2019-20 and 2022-23. Mining productivity had the largest negative impact on national productivity growth in 2022-23.

    2. Productivity is directed by management, not workers

    The biggest single factor that shapes productivity is technology. Who’s responsible for what technology a business introduces? Management. Workers often don’t have much of a say.

    OECD research suggests new technology such as artificial intelligence (AI) meets lower resistance from employees when they are consulted over its introduction. That’s because new technology makes their firms more competitive and they want to keep their jobs.

    Not surprisingly, there’s lots of research showing management that engages and consults workers gets greater output.

    Output will also be better with an educated and skilled workforce. If people can do more things with their brains, they’ll be more productive.

    3. Measuring productivity is dodgier the more complex it gets

    Measuring labour productivity – output per unit of labour input – is fairly straightforward if you’ve got a single output that is sold in a free market, and you’re looking at a single input (labour). It’s not hard to measure, or describe, the number of cars produced per worker in a week.

    It gets very tricky when you’re looking at multi-factor productivity (output per unit of, say, labour-and-capital input). Economists can’t even describe the denominator. (What even is a unit of “labour-and-capital”?) So they express what they measure as an index (giving it a value of 100 in some base year). All sorts of bold assumptions get made.

    Estimates are highly creative. In its report, the Productivity Commission looked at revisions to quarterly growth figures and found productivity estimates are “constantly being revised”.

    On almost a third of occasions, initial estimates are out by 0.5 percentage points or more. When your estimate is that productivity increased by 0.5% – the number for the year to this June quarter – the potential for error is huge.

    Even more creative assumptions are made when you try to measure productivity in the public sector, when the market is not the aim.

    Productivity is higher in classrooms when there are fewer teachers per student. At least, the bean-counters will tell you that, but the students will tell you the opposite.

    So you should be very wary when someone says the “productivity challenge is […] greater and more pressing in the non-market sector”, when the meaning is so contested.

    4. It is best measured over long periods

    Productivity growth is so erratic, that you can tell very little from one quarter’s figures. “Revise, revise, revise again”, as the PC report said.

    Often the best thing to do, as the Australian Bureau of Statistics recognised long ago is to average it over the whole of a “growth cycle”, that is, between one peak of growth and the next.

    Trouble is, growth cycles vary in length, and the end point is not easy to pick when it happens, only later.

    Growth averaged over a long period is a lot more meaningful than growth measured over a short period. At least the Productivity Commission showed five-year averages alongside it’s latest quarterly estimates. But chances are your start date will be at a different stage in the growth cycle to your end date, so it’s not that good a measure.

    5. Productivity is falling here and overseas

    In Australia, productivity growth has been on a long-term decline since the 1960s, with a brief, unsustained upturn in the mid 1990s.

    That pattern gives pause for thought: if big reforms to competition policy, industrial relations and wage fixing were aimed at improving productivity growth, why was that unsustainable, and why did it then continue to decline? It pays to remember that a lot of reforms people advocate in the name of productivity growth have quite different aims and effects anyway.

    Internationally, the picture is not much different.

    Productivity growth across industrialised countries has unevenly but gradually declined since the 1950s and 1960s. The world-wide adoption of what were often called neoliberal reforms from the 1980s failed to improve productivity growth.

    6. Productivity growth once drove living standards. Not any more

    In theory, higher labour productivity enables higher living standards. In practice, that is driven by the ability of workers to negotiate for higher wages.

    It depends on how you measure it and what years you focus on, but from at least the early 2010s, productivity growth was much faster than hourly compensation per employee.

    Again, it’s not just Australia. The OECD calls this the “decoupling” of wages and productivity.

    Just because something can increase potential earnings growth, it does not follow that it will.

    As a university employee and since then, David Peetz has undertaken research over many years with occasional financial support from governments from both sides of politics, employers and unions. He has been and is involved in several Australian Research Council-funded and approved projects, some of which included contributions from an employer body, a superannuation fund, and two unions. The projects do not concern the subject matter of this article.

    – ref. Productivity is often mistaken for wages. What does it really mean? How does it work? – https://theconversation.com/productivity-is-often-mistaken-for-wages-what-does-it-really-mean-how-does-it-work-240113

    MIL OSI Analysis – EveningReport.nz –

    January 23, 2025

  • MIL-OSI Economics: Secretary-General of ASEAN participates in the 28th ASEAN Political-Security Community Council Meeting

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today participated in the 28th ASEAN Political-Security Community (APSC) Council Meeting in Vientiane, Lao PDR. The APSC Council took stock of the progress of the work of APSC sectoral bodies and reviewed the implementation of the APSC Blueprint 2025 in preparations for the 44th and 45th ASEAN Summits and Related Summits to be convened in Vientiane, Lao PDR, later this week.

    The post Secretary-General of ASEAN participates in the 28th ASEAN Political-Security Community Council Meeting appeared first on ASEAN Main Portal.

    MIL OSI Economics –

    January 23, 2025

  • MIL-OSI: Final result of the subsequent offer period of Onni Bidco Oy’s voluntary recommended public cash tender offer for all the shares in Innofactor Plc

    Source: GlobeNewswire (MIL-OSI)

    Innofactor Plc          Stock Exchange Release         October 8, 2024 at 8:35 a.m. (EEST)

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER WOULD BE PROHIBITED BY APPLICABLE LAW. FOR FURTHER INFORMATION, PLEASE SEE SECTION ENTITLED “IMPORTANT INFORMATION” BELOW.

    Final result of the subsequent offer period of Onni Bidco Oy’s voluntary recommended public cash tender offer for all the shares in Innofactor Plc

    As announced on July 22, 2024, CapMan Growth Equity Fund III Ky, a fund managed by CapMan Group affiliated companies, (“CapMan Growth”), Sami Ensio, the founder, CEO and member of the Board of Directors of Innofactor Plc, through the holding company Ensio Investment Group Oy controlled by him, and the co-investor Osprey Capital Oy (“Osprey Capital”) form a consortium (the “Consortium”) for the purposes of the voluntary recommended public cash tender offer for all the issued and outstanding shares in Innofactor Plc (“Innofactor” or the “Company”) that are not held by Innofactor or its subsidiaries (the “Shares”) (the “Tender Offer”), made by Onni Bidco Oy (the “Offeror”), a private limited liability company incorporated and existing under the laws of Finland. The Offeror has on August 2, 2024, published the tender offer document concerning the Tender Offer. The original offer period for the Tender Offer commenced on August 5, 2024, at 9:30 a.m. (Finnish time) and expired on September 16, 2024, at 4:00 p.m. (Finnish time) (the “Original Offer Period”). The Offeror announced on September 19, 2024 in connection with the announcement of the final result of the Original Offer Period, that it will complete the Tender Offer and commence a subsequent offer period in accordance with the terms and conditions of the Tender Offer, which commenced  on September 19, 2024, at 9:30 a.m. (Finnish time) and expired on October 3, 2024, at 4:00 p.m. (Finnish time) (the “Subsequent Offer Period”).

    Based on the final result of the Subsequent Offer Period, the 914,649 Shares tendered during the Subsequent Offer Period represent approximately 2.56 percent of the Shares and voting rights in Innofactor. Together with the Shares validly accepted during the Original Offer Period and the Shares otherwise acquired or to be acquired by the Offeror (comprising 148,127 Shares that Sami Ensio has received as board remuneration), the Shares tendered during the Subsequent Offer Period represent approximately 85.05 percent of the Shares and voting rights in Innofactor.

    The offer price will be paid on or about October 10, 2024, to shareholders who have validly accepted the Tender Offer during the Subsequent Offer Period in accordance with the terms and conditions of the Tender Offer. The offer price will be paid in accordance with the payment procedures described in the terms and conditions of the Tender Offer. The actual time of receipt of the payment by each shareholder will depend on the schedule for payment transactions between financial institutions.

    The Offeror has reserved the right to acquire Shares on or after the date of this release in public trading on Nasdaq Helsinki Ltd (“Nasdaq Helsinki”) or otherwise to the extent permitted by applicable laws and regulations.

    Investor and Media enquiries:

    Innofactor

    Iida Suominen (Innofactor), ir@innofactor.com, +358 40 716 7173

    Lasse Lautsuo (Innofactor), ir@innofactor.com, +358 50 480 1597

    For further information, please visit the dedicated website at https://www.innofactor.com/invest-in-us/onni-tender-offer/.

    The Consortium

    Antti Kummu, CapMan Growth

    +358 50 432 4486

    Media

    press.contact@miltton.com

    +358 45 788 51840

    For further information, please visit the dedicated website at: https://innofactor.tenderoffer.fi/en/pto/. The link does not redirect to Innofactor’s website, but to a website operated by the Offeror.

    Distribution:

    NASDAQ Helsinki
    Main media
    http://www.innofactor.com

    ABOUT THE CONSORTIUM

    CapMan Growth and Sami Ensio (through the holding company controlled by him) together with Osprey Capital form the Consortium for the purposes of the Tender Offer. As at the date of this release, the Offeror is indirectly owned by Onni Topco Oy, a private limited liability company incorporated under the laws of Finland. Onni Topco Oy was incorporated to be the holding company in the acquisition structure and is currently owned by CapMan Growth. Following the completion of the Tender Offer, CapMan Growth is expected to own approximately 52.4 percent, Ensio Investment Group Oy approximately 42.6 percent and Osprey Capital approximately 5.0 percent of the shares in Onni Topco Oy.

    ABOUT INNOFACTOR

    Innofactor is the leading promoter of the modern digital organization in the Nordic countries for its approximately 1,000 customers in the commercial and public sectors. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor’s offering includes planning services for business-critical IT solutions, project deliveries, implementation support and maintenance services, as well as own software and services. Innofactor employs nearly 600 experts in Finland, Sweden, Denmark and Norway. Innofactor’s shares are listed on Nasdaq Helsinki with the ticker symbol IFA1V.

    IMPORTANT INFORMATION

    THIS RELEASE MAY NOT BE RELEASED OR OTHERWISE DISTRIBUTED, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE TENDER OFFER WOULD BE PROHIBITED BY APPLICABLE LAW.

    THIS RELEASE IS NOT A TENDER OFFER DOCUMENT AND AS SUCH DOES NOT CONSTITUTE AN OFFER OR INVITATION TO MAKE A SALES OFFER. IN PARTICULAR, THIS RELEASE IS NOT AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES DESCRIBED HEREIN, AND IS NOT AN EXTENSION OF THE TENDER OFFER, IN, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA. INVESTORS SHALL ACCEPT THE TENDER OFFER FOR THE SHARES ONLY ON THE BASIS OF THE INFORMATION PROVIDED IN A TENDER OFFER DOCUMENT. OFFERS WILL NOT BE MADE DIRECTLY OR INDIRECTLY IN ANY JURISDICTION WHERE EITHER AN OFFER OR PARTICIPATION THEREIN IS PROHIBITED BY APPLICABLE LAW OR WHERE ANY TENDER OFFER DOCUMENT OR REGISTRATION OR OTHER REQUIREMENTS WOULD APPLY IN ADDITION TO THOSE UNDERTAKEN IN FINLAND.

    THE TENDER OFFER IS NOT BEING MADE DIRECTLY OR INDIRECTLY IN ANY JURISDICTION WHERE PROHIBITED BY APPLICABLE LAW AND, WHEN PUBLISHED, THE TENDER OFFER DOCUMENT AND RELATED ACCEPTANCE FORMS WILL NOT AND MAY NOT BE DISTRIBUTED, FORWARDED OR TRANSMITTED INTO OR FROM ANY JURISDICTION WHERE PROHIBITED BY APPLICABLE LAWS OR REGULATIONS. IN PARTICULAR, THE TENDER OFFER IS NOT BEING MADE, DIRECTLY OR INDIRECTLY, IN OR INTO, OR BY USE OF THE POSTAL SERVICE OF, OR BY ANY MEANS OR INSTRUMENTALITY (INCLUDING, WITHOUT LIMITATION, FACSIMILE TRANSMISSION, TELEX, TELEPHONE OR THE INTERNET) OF INTERSTATE OR FOREIGN COMMERCE OF, OR ANY FACILITIES OF A NATIONAL SECURITIES EXCHANGE OF, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA. THE TENDER OFFER CANNOT BE ACCEPTED, DIRECTLY OR INDIRECTLY, BY ANY SUCH USE, MEANS OR INSTRUMENTALITY OR FROM WITHIN, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA AND ANY PURPORTED ACCEPTANCE OF THE TENDER OFFER RESULTING DIRECTLY OR INDIRECTLY FROM A VIOLATION OF THESE RESTRICTIONS WILL BE INVALID.

    THIS RELEASE HAS BEEN PREPARED IN COMPLIANCE WITH FINNISH LAW, THE RULES OF NASDAQ HELSINKI AND THE HELSINKI TAKEOVER CODE AND THE INFORMATION DISCLOSED MAY NOT BE THE SAME AS THAT WHICH WOULD HAVE BEEN DISCLOSED IF THIS RELEASE HAD BEEN PREPARED IN ACCORDANCE WITH THE LAWS OF JURISDICTIONS OUTSIDE OF FINLAND.

    Information for shareholders of Innofactor in the United States

    Shareholders of Innofactor in the United States are advised that the Shares are not listed on a U.S. securities exchange and that Innofactor is not subject to the periodic reporting requirements of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is not required to, and does not, file any reports with the U.S. Securities and Exchange Commission (the “SEC”) thereunder.

    The Tender Offer will be made for the issued and outstanding shares of Innofactor, which is domiciled in Finland, and is subject to Finnish disclosure and procedural requirements. The Tender Offer is made in the United States pursuant to Section 14(e) and Regulation 14E under the Exchange Act, subject to the exemption provided under Rule 14d-1(c) under the Exchange Act, for a Tier I tender offer, and otherwise in accordance with the disclosure and procedural requirements of Finnish law, including with respect to the Tender Offer timetable, settlement procedures, withdrawal, waiver of conditions and timing of payments, which are different from those of the United States. In particular, the financial information included in this stock exchange release has been prepared in accordance with applicable accounting standards in Finland, which may not be comparable to the financial statements or financial information of U.S. companies. The Tender Offer is made to Innofactor’s shareholders resident in the United States on the same terms and conditions as those made to all other shareholders of Innofactor to whom an offer is made. Any informational documents, including this stock exchange release, are being disseminated to U.S. shareholders on a basis comparable to the method that such documents are provided to Innofactor’s other shareholders.

    To the extent permissible under applicable law or regulations, the Offeror and its affiliates or its brokers and its brokers’ affiliates (acting as agents for the Offeror or its affiliates, as applicable) may from time to time after the date of this stock exchange release and during the pendency of the Tender Offer, and other than pursuant to the Tender Offer, directly or indirectly purchase or arrange to purchase Shares or any securities that are convertible into, exchangeable for or exercisable for Shares. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. To the extent information about such purchases or arrangements to purchase is made public in Finland, such information will be disclosed by means of a press release or other means reasonably calculated to inform U.S. shareholders of Innofactor of such information. In addition, the financial adviser to the Offeror may also engage in ordinary course trading activities in securities of Innofactor, which may include purchases or arrangements to purchase such securities. To the extent required in Finland, any information about such purchases will be made public in Finland in the manner required by Finnish law.

    Neither the SEC nor any U.S. state securities commission has approved or disapproved the Tender Offer, passed upon the merits or fairness of the Tender Offer, or passed any comment upon the adequacy, accuracy or completeness of the disclosure in relation to the Tender Offer. Any representation to the contrary is a criminal offence in the United States.

    The receipt of cash pursuant to the Tender Offer by a U.S. holder of Shares may be a taxable transaction for U.S. federal income tax purposes and under applicable U.S. state and local, as well as foreign and other, tax laws. Each holder of Shares is urged to consult its independent professional advisers immediately regarding the tax and other consequences of accepting the Tender Offer.

    To the extent the Tender Offer is subject to U.S. securities laws, those laws only apply to U.S. holders of Shares and will not give rise to claims on the part of any other person. It may be difficult for Innofactor’s shareholders to enforce their rights and any claims they may have arising under the U.S. federal securities laws, since the Offeror and Innofactor are located in non-U.S. jurisdictions and some or all of their respective officers and directors may be residents of non-U.S. jurisdictions. Innofactor shareholders may not be able to sue the Offeror or Innofactor or their respective officers or directors in a non-U.S. court for violations of the U.S. federal securities laws. It may be difficult to compel the Offeror and Innofactor and their respective affiliates to subject themselves to a U.S. court’s judgment.

    Forward-looking statements

    This release contains statements that, to the extent they are not historical facts, constitute “forward-looking statements”. Forward-looking statements include statements concerning plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, competitive strengths and weaknesses, plans or goals relating to financial position, future operations and development, business strategy and the trends in the industries and the political and legal environment and other information that is not historical information. In some instances, they can be identified by the use of forward-looking terminology, including the terms “believes”, “intends”, “may”, “will” or “should” or, in each case, their negative or variations on comparable terminology. By their very nature, forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. Given these risks, uncertainties and assumptions, investors are cautioned not to place undue reliance on such forward-looking statements. Any forward-looking statements contained herein speak only as at the date of this release.

    Disclaimer

    Carnegie Investment Bank AB (publ), which is authorised and supervised by the Swedish Financial Supervisory Authority (Finansinspektionen), is acting through its Finland Branch (“Carnegie”). The Finland branch is authorised by the Swedish Financial Supervisory Authority and subject to limited supervision by the Finnish Financial Supervisory Authority (Finanssivalvonta). Carnegie is acting exclusively for the Offeror and no one else in connection with the Tender Offer and the matters set out in this release. Neither Carnegie nor its affiliates, nor their respective partners, directors, officers, employees or agents are responsible to anyone other than the Offeror for providing the protections afforded to clients of Carnegie, or for giving advice in connection with the Tender Offer or any matter or arrangement referred to in this release.

    Advium Corporate Finance Ltd. is acting exclusively on behalf of Innofactor and no one else in connection with the Tender Offer or other matters referred to in this release, does not consider any other person (whether the recipient of this release or not) as a client in connection to the Tender Offer, and is not responsible to anyone other than Innofactor for providing protection or providing advice in connection with the Tender Offer or any other transaction or arrangement referred to in this release.

    The MIL Network –

    January 23, 2025

  • MIL-OSI: Sampo plc’s share buybacks 7 October 2024

    Source: GlobeNewswire (MIL-OSI)

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

    Sampo plc’s share buybacks 7 October 2024

    On 7 October 2024, Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI4000552500) as follows:                

    Sampo plc’s share buybacks Aggregated daily volume (in number of shares) Daily weighted average price of the purchased shares* Market (MIC Code)
      4,177 41.13 AQEU        
      44,885 41.21 CEUX
      1,123 41.25 TQEX
      43,707 41.17 XHEL
    TOTAL 93,892 41.19  

    *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 8,131,614 Sampo A shares representing 1.48 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_07_10_2024

    The MIL Network –

    January 23, 2025

  • MIL-OSI United Nations: Paraguay achieves inter-institutional commitment to risk management in the Jesuit Guarani Missions

    Source: UNESCO World Heritage Centre

    Presentation events were held to present the results of the project with technical assistance from UNESCO and financed by the Netherlands Funds-in-Trust.

    Asunción hosted on 6 August the presentation of the initial results of the project ‘Design and implementation of the Risk Management Plan for the Jesuit Missions of Santísima Trinidad de Paraná and Jesús de Tavarangüe, World Heritage site in Paraguay’, financed by the Netherlands Funds-in-Trust and implemented by the National Secretariat of Tourism-SENATUR and UNESCO Montevideo, in coordination with the Latin America and Caribbean Unit of the UNESCO World Heritage Centre. 

    The participation of the National Secretariat of Culture and other national and local stakeholders in this process was fundamental in the framework of the technical assistance project for the elaboration of a risk management plan for the Jesuit Missions of Santísima Trinidad de Paraná and Jesús de Tavarangüe, a site included in the World Heritage List since 1993. 

    ‘This document is intended to be a National Risk Plan due to the responsibility that all Paraguayans have towards World Heritage and the different risks that have been identified and those that will continue to be added,’ said Paraguay’s Minister of Tourism, Angie Duarte. 

    The work carried out for the preparation of the risk management plan document through various workshops and training sessions lays the foundations for a long-term inter-institutional commitment between SENATUR and the National Secretariat of Culture-SNC, as well as coordination with local and departmental governments and other key institutions of the central administration, such as the Ministry of Environment and Sustainable Development, Ministry of Foreign Affairs, National Emergency Secretariat, National Institute of Indigenous People, Armed Forces, National Police, INTERPOL Paraguay, among others. 

    This cooperation will continue in the future to further develop risk prevention and risk management protocols that will prevent or reduce the negative effects of potential disasters on the World Heritage property and thus protect its outstanding universal value. 

    In this sense, the Minister of Culture, Adriana Ortiz underlined the relevance of the project implemented in view of the need to ‘continuously promote and coordinate this type of action to preserve this world heritage that distinguishes us as unique’.

    Subsequently, on 8 August, two presentations of the results of the project were held in the Mission of Jesus and the Mission of Trinidad, respectively, in the presence of national authorities from SENATUR, local authorities and officials from the Missions, as well as members of local communities, civil society, universities and the Church. 

    During the event, a message was delivered by Elma Stoffelen, Head of Policy, Press and Culture of the Netherlands Representation in Buenos Aires, who stressed: ‘The identification and mitigation of risks is key to the management of world heritage and for this reason we are grateful for the cooperation we have with the State of Paraguay for the implementation of this project and for the participation of other state agencies’. 

    Alcira Sandoval Ruiz, Culture Specialist at UNESCO’s Regional Office in Montevideo, said that ‘with this project, Paraguay is fulfilling one more of the requirements established for the proper conservation of the site’ and thanked the national consultants and the international consultant in charge of the implementation of the plan in coordination with the counterparts. 

    The project has also enabled the preparation of a carrying capacity study at the World Heritage site, as well as a climate change impact study, relevant documents that complement the risk management plan and align with the provisions of the 2014-2024 Action Plan for World Heritage in the Latin America and Caribbean Region and the Policy Document on Climate Action for World Heritage. 

    A second stage is planned, in which working groups will be held to elaborate protocols for action and responsibilities with the partners who have participated in the process. 

    The project’s consulting team was made up of Francisco Vidargas, Bettina Bray and Edgar García.

    MIL OSI United Nations News –

    January 23, 2025

  • MIL-OSI United Kingdom: Marine Pollution Incident Resilience workshop begins in Honiara

    Source: United Kingdom – Executive Government & Departments

    It brings together key stakeholders to enhance local and regional collaboration, communication and strengthen environmental response capabilities.

    Group photo with the Supervising Minister of Environment for Solomon Islands, Hon. Rexon Ramofafia and British High Commissioner to Solomon Islands H.E Thomas Coward.

    A four-day workshop on “Strengthening Marine Pollution Incident Resilience in the Pacific begins in Honiara, Solomon Islands today.

    It is funded by the Ocean Country Partnership Programme (OCPP) an Official Development Assistance (ODA) programme under the UK’s Blue Planet Fund, in collaboration with the Secretariat of the Pacific Regional Environment Programme (SPREP).

    The objective is to bring together key stakeholders to enhance local and regional collaboration, communication and strengthen environmental response capabilities for marine pollution emergency incidents in the Pacific.

    It hopes to increase awareness and education around the risks and threats of pollution from marine activities in the Pacific (including Potentially Polluting Wrecks) by sharing global best practice, guidance, and knowledge.

    Other workshop outcomes include enhancing knowledge and bridge gaps in contingency planning to respond to a marine incident and increase the capacity for local stakeholders to engage, assess and monitor potentially polluting wrecks.

    Exploring actions to empower communities to further value and protect the marine environment and ensure participation in future actions on wrecks and marine pollution emergency response also forms part of the workshop outcomes.

    It is also expected to enhance communication and collaboration between key stakeholders in the Pacific.

    Delivered by OCPP, SPREP and Major Projects Foundation with support from the British High Commission in Honiara, a range of topics will be discussed.

    They include from national contingency planning, roles and responsibilities, oil 7 chemical fate and transport modelling, vessel traffic analysis, risks and impacts from spills and potentially polluting wrecks and a table top exercise are among the various topics that will be covered.

    PacPlan Project Officer, Paul Irving said:

    SPREP is very proud to partner and work with the OCPP to assist Solomon Islands and other Pacific Island nations build marine pollution response preparedness and capability. The Pacific Marine Oil Pollution Contingency Plan (PacPlan) strongly encourages multilateral practical support like this workshop. Participants will leave better informed, and more capable to lead preparedness, response and recovery, should a marine emergency occur.

    Held from 8 to 11 October at the Nahona conference, Heritage Park Hotel, the workshop will feature comprehensive discussions, knowledge sharing sessions, presentations and exercises.

    Participants will be invited to exchange knowledge and ideas during the workshop exercises to encourage effective collaboration between stakeholders, the sharing of data, expertise and tools to bring together experiences, knowledge and expertise to learn together on how to better prepare for marine pollution incidents in the region.

    Government, non-government, industry and academia are expected to attend including those who are involved in marine pollution emergency response or have an interest in the subject.

    Delegates from Solomon Islands, Vanuatu, Fiji, Kiribati, Australia, Samoa and the United States are expected to attend the four days’ workshop in the capital.

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    Updates to this page

    Published 8 October 2024

    MIL OSI United Kingdom –

    January 23, 2025

  • MIL-OSI: TGS Q3 2024 Operational Update

    Source: GlobeNewswire (MIL-OSI)

    OSLO, Norway (8 October 2024) – TGS, a leading global provider of energy data and intelligence routinely publishes a quarterly operational update six working days after quarter-end.

    The table below shows TGS’s normalized Ocean Bottom Node (OBN) crew count:  

       

    2022

    		  

    2023

    		  

    2024
    Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
    Normalized crewcount1  

    2.9

    		  

    3.2

    		  

    3.2

    		  

    2.3

    		  

    2.6

    		  

    3.2

    		  

    3.2

    		  

    1.9

    		  

    1.9

    		  

    2.7

    		  

    3.8

    1) The table shows average number of crews in operation when assuming a normalized crew size. In Q3 2024 all crews were used for contract work. If crews are used for multi-client in the future that will be disclosed.
      
    The table below shows TGS’s streamer vessel allocation:

    Allocation of active seismic 3D vessel capacity2  

     

    2022

    		  

     

    2023

    		  

     

    2024
      Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
    Contract 39% 41% 60% 63% 51% 34% 16% 25% 36% 28% 20%
    Multi-client 16% 24% 28% 12% 23% 41% 70% 31% 30% 36% 57%
    Steaming 8% 14% 8% 16% 11% 13% 6% 18% 7% 14% 6%
    Yard 6% 9% 3% 3% 2% 10% 4% 14% 6% 6% 2%
    Stacked/Standby 31% 12% 1% 6% 13% 2% 4% 12% 21% 16% 15%
    Number of vessels 6 6 6 6 6 6 7 7 7 6 6

    2) The statistics include only active seismic 3D vessels (capacity working on New Energy Solutions projects are excluded). The Ramform Victory was brought into operation in Q3 2023, and the Ramform Vanguard was converted to a dual-purpose seismic and offshore wind vessel in Q2 2024. The two cold-stacked vessels are excluded from the statistics.

    Based on a preliminary financial review TGS expects Q3 2024 multi-client investment to be approximately USD 132 million.

    The table below shows pro-forma multi-client investment:

    In USD million  

    2022

    		  

    2023

    		  

    2024
      Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
    Multi-client investment  

    60

    		  

    70

    		  

    129

    		  

    90

    		  

    163

    		  

    125

    		  

    181

    		  

    106

    		  

    106

    		  

    92

    		  

    132

    Kristian Johansen, CEO at TGS, commented: “I am very pleased to see strong utilization of our OBN crews in Q3, where we had one crew in West Africa, two crews in the Gulf of Mexico and one crew in Europe. Demand for our OBN services continues to be strong and we achieved a solid order inflow during the quarter. Our seismic streamer vessel utilization in Q3 ended at 77%, a sequential increase, but still below the approximately 85% level we consider full utilization, when adjusting for steaming and yard time. Active tenders for streamer contract work have increased significantly over the summer. We expect that higher contract bidding activity in combination with the synergy effects of a larger multi-client project portfolio, will improve our streamer vessel utilization going forward.”

    TGS will release its Q3 2024 results at 07:00 a.m. CEST on 24 October 2024. CEO Kristian Johansen and CFO Sven Børre Larsen will present the results at 09:00 a.m. CEST during a live presentation and webcast. The presentation will take place at House of Oslo, Ruseløkkveien 34, 0251 Oslo and is open to the public.

    The webcast can be followed live via this link:
    https://channel.royalcast.com/landingpage/hegnarmedia/20241024_5/

    For more information, visit TGS.com (http://www.tgs.com) or contact:

    Bård Stenberg, VP IR & Communication
    Tel.: +47 992 45 235
    E-mail: investor@tgs.com

    About TGS
    TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit http://www.tgs.com (https://www.tgs.com/).

    Forward Looking Statement
    All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward- looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

    The MIL Network –

    January 23, 2025

  • MIL-OSI: Xalts onboards Polygon on its enterprise grade RWA tokenization platform for financial institutions

    Source: GlobeNewswire (MIL-OSI)

    Singapore, Oct. 08, 2024 (GLOBE NEWSWIRE) — Xalts today announced a deeper collaboration to bring its enterprise-grade real world asset tokenization platform, RWA Cloud, to the Polygon blockchain network. RWA Cloud provides out-of-the-box solutions to enable financial services, governments, and other enterprise developers looking to build digital asset platforms for implementing blockchain, tokenization, and smart contract applications for different use cases.

    Xalts works with financial services and businesses to provide connectivity by leveraging a modern technology stack, including APIs, Blockchains, and Orchestration layers. Its product suite includes solutions such as the RWA Cloud platform, which enables large institutions such as financial services and governments to quickly build complex solutions on blockchains. 

    By integrating Polygon within Xalts’ RWA Cloud platform, enterprise application developers will be able to deploy and build blockchain applications quickly and at a very low cost using Polygon. Xalts will further partner with the Polygon Labs team on a host of institutional applications, including those around trade and supply chain finance, treasury management, and digital currency adoption.

    Xalts’ RWA Cloud addresses challenges enterprises and regulators face while implementing blockchain, such as retaining complex rules, workflows, processes, and user compliances mandated by internal or regulatory governance. Enterprises can manage process complexity associated with events like issuance, servicing, or transfers by leveraging RWA Cloud’s Smart Workflow Core, an orchestration layer that connects with smart contract libraries and multiple off-chain systems. 

    “We are very excited to onboard Polygon. Deeper collaboration and integrations with blockchain partners enables regulated financial institutions to build their enterprise use cases in a seamless way. We look forward to accelerating the adoption of RWA tokenization by enterprises.”, said Supreet Kaur, Chief Operating Officer, Xalts.

    This year has marked a significant step forward in the advancement of tokenization in real-world application within the financial sector with regulators such as Hong Kong Monetary Authority (HKMA) Project Ensemble for asset tokenization and Monetary Authority of Singapore (MAS) expanding the Project Guardian and Global Layer One (GL1) initiatives. 

    “Integrating Polygon with Xalts RWA Cloud will speed up the enterprise adoption of blockchain & RWA Tokenization use cases. We look forward to working closely with the Xalts team to enable financial institutions and fintechs with a plug and play solution”, said Colin Butler, Global Head of Institutional Capital at Polygon Labs.

    Ends

    About Xalts
    Xalts is a financial technology firm providing enterprise grade, real time connectivity between financial services & businesses by leveraging modern technology stack including APIs, Blockchains & Orchestration layers to automate complex workflows. Xalts is backed by Accel and Citi Ventures and has a presence in Singapore, Hong Kong, India, UAE and UK. To learn more about Xalts, visit https://xalts.io/ 

    The MIL Network –

    January 23, 2025

  • MIL-OSI: Notice on Public Offering of Subordinated Bonds of Bigbank AS

    Source: GlobeNewswire (MIL-OSI)

    Bigbank AS (registry code 10183757, address Riia tn 2, Tartu, 51004) (Bigbank) hereby announces a public offering of its unsecured subordinated bonds (Offering) and informs about the approval of prospectus supplement no. 2 by the Estonian Financial Supervision and Resolution Authority (FSA) to the base prospectus registered on 13 November 2023 (the base prospectus, its earlier supplement no. 1, and supplement no. 2 approved by FSA for this offering, hereinafter collectively referred to as the Prospectus).

    The Offering is a third series of the Bigbank unsecured subordinated bond programme (Programme) described in the Prospectus. The Offering is conducted on the basis of the Prospectus, which has been supplemented and includes supplement no. 1 (Supplement  1), approved by the FSA on 13 May 2024, and supplement no. 2 (Supplement 2), approved by the FSA on 7 October 2024, both of which have been  disclosed on the date of this announcement on the web pages of Bigbank (https://investor.bigbank.eu) and the FSA (https://www.fi.ee). Supplements 1 and 2 incorporate into the Prospectus Bigbank’s audited annual report for the financial year ended 31 December 2023, the interim report for the 6-month period ended on 30 June 2024, and update the Prospectus with information about recent events, changes, and their potential impact on Bigbank.

    The planned volume of the third series is up to 3 million euros with the option of increasing the amount up to 8 million euros. Under the Programme it is possible for Bigbank to raise up to 30 million euros in total.

    Main terms of the Offering

    Under the Offering, Bigbank offers up to 3,000 unsecured subordinated bonds “EUR 6.50 BIGBANK ALLUTATUD VÕLAKIRI 24-2034” with the nominal value of EUR 1,000 per bond, with a maturity date of 23 October 2034. Bigbank will pay interest on the bonds quarterly at a fixed rate of 6.50% per annum. In the event of oversubscription, Bigbank is entitled to increase the amount of bonds offered by 5,000 bonds, bringing the total up to 8,000 bonds. Bigbank is also entitled to cancel the Offering in the volume not subscribed. The unsecured subordinated bonds are offered at a price of EUR 1,000 per one bond. The unsecured subordinated bonds are registered in the Estonian Register of Securities operated by Nasdaq CSD Estonian Branch (Nasdaq CSD) under ISIN code EE3300004977.

    The subscription period for the bonds starts on 8 October 2024 at 10:00 and will end on 18 October 2024 at 15:30. The Offering will be targeted to retail and qualified investors in Estonia, Latvia, and Lithuania. The unsecured subordinated bonds will be offered only in Estonia, Latvia, and Lithuania and not in any other jurisdiction. Additionally, Bigbank may offer the bonds non-publicly in all the member states of the European Economic Area in accordance with exemptions provided for in Article 1(4) of Regulation (EU) 2017/1129.

    A subordinated bond represents an unsecured debt obligation of Bigbank before the investor. The subordination of the bonds means that upon the liquidation or bankruptcy of Bigbank, all the claims arising from the subordinated bonds shall fall due and shall be satisfied only after the full satisfaction of all unsubordinated recognised claims in accordance with the applicable law. Among other things, with subordinated bonds, the risk of write-down or conversion of liabilities and claims (bail-in risk) must be considered.

    Specific details of the Offering are provided in the Prospectus and the Prospectus summary for third series.

    The indicative timetable of the Offering is the following:

    Subscription period starts 8 October 2024 at 10:00
    Subscription period ends 18 October 2024 at 15:30
    Announcement of the Offering results On or around 21 October 2024
    Settlement of the Offering On or around 23 October 2024
    First trading day On or around 24 October 2024

     

    Submitting subscription undertakings

    To subscribe for the bonds during the Offering, an investor must have a securities account with a Nasdaq CSD account operator or a financial institution who is a member of the Nasdaq Riga or Nasdaq Vilnius Stock Exchange.

    An Estonian investor wishing to subscribe for the bonds should contact the securities account operator that operates their securities account and submit the subscription undertaking during the offering period.

    A Latvian or Lithuanian investor wishing to subscribe for the bonds should contact the relevant financial institution and submit the subscription undertaking in the format and manner prescribed by the financial institution and in accordance with the terms of the Prospectus. 

    By submitting the subscription undertaking, an investor authorises the account operator or the relevant financial institution who operates the investor’s current account connected to its securities account to immediately block the whole transaction amount on the investor’s current account until the settlement is completed or funds are released in accordance with the terms set out in the Prospectus.

    Listing and admission to trading of unsecured subordinated bonds of Bigbank

    Nasdaq Tallinn Stock Exchange operator has on 29 November 2023 approved Bigbank’s application to list and admit to trading up to 30,000 subordinated bonds with nominal value of EUR 1,000 to be issued by Bigbank under the Programme. Bigbank shall also submit an application to Nasdaq Tallinn Stock Exchange operator for listing and admission to trading of all the bonds issued during the Offering on the Baltic Bond List of the Nasdaq Tallinn Stock Exchange. The expected date of listing and admission to trading is on or about 24 October 2024. 

    While every effort will be made and due care will be taken to ensure the listing and the admission to trading of the unsecured subordinated bonds, Bigbank cannot ensure that the unsecured subordinated bonds will be listed and admitted to trading.

    Availability of the documentation of the Offering

    The Prospectus (including its Supplement 1 and Supplement 2), along with the terms and conditions of the bonds, the final terms of the third series, and the summary of the Prospectus for the third series, has been published and is available in electronic form on Bigbank’s website at https://investor.bigbank.eu and on the FSA’s website at https://www.fi.ee. In addition to the above, translations of the third series summary of the Prospectus into Estonian, Latvian and Lithuanian are available in electronic form on Bigbank’s website at https://investor.bigbank.eu.

    Before investing in Bigbank’s unsecured subordinated bonds, please review the Prospectus (including Supplement 1 and Supplement 2), its third series summary, the terms and conditions of the bonds, and the final terms of the bonds for the third series in full, and consult an expert if necessary.

     

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

     

    Important information

    This notice is an advertisement for securities within the meaning of the Regulation No 2017/1129/EU of 14 June 2017 of the European Parliament and of the Council European Parliament and does not constitute an offer to sell subordinated bonds or an invitation to subscribe to subordinated bonds. Each investor should make any decision to invest in the bonds only based on the information contained in the Prospectus (including Supplement 1 and Supplement 2), its third series summary, the terms and conditions of the bonds, and the final terms of the bonds for the third series. The approval of the Prospectus by the Financial Supervision Authority is not considered to be a recommendation for Bigbank’s subordinated bonds.

    The information contained in this notice is not intended to be published, distributed, or transmitted, in whole or in part, directly or indirectly, in any country or under any circumstance where publication, sharing or transmission would be unlawful or to any persons to whom the competent authorities have applied financial sanctions. Bigbank’s unsecured subordinated bonds will be publicly offered only in Estonia, Latvia and Lithuania and the sale or offer of the bonds shall not take place in any jurisdiction where such offer, invitation or sale would be unlawful without the exception or qualification of law or to any persons to whom the competent authorities have applied financial sanctions. The unsecured subordinated bonds are offered solely based on the Prospectus (including Supplement 1 and Supplement 2), its third series summary, the terms and conditions of the bonds, and the final terms of the bonds for the third series, and the Offering is intended only for the persons to whom the Prospectus is directed. The present notice is not reviewed or confirmed by any supervisory authority, and it does not constitute a prospectus.

    Attachments

    The MIL Network –

    January 23, 2025

  • MIL-OSI Asia-Pac: Legal training office director named

    Source: Hong Kong Information Services

    The Department of Justice announced today that Yang Ling will take up the appointment as Director of the Hong Kong International Legal Talents Training Office with effect from November 1.

    Secretary for Justice Paul Lam welcomed Dr Yang’s appointment, which was made following an open recruitment exercise, noting that she is a recognised scholar in international legal and dispute resolution with extensive management experience, including her time at the Hong Kong International Arbitration Centre.

    “She will be able to lead the office to take forward the policy initiatives of developing Hong Kong as a capacity-building centre for legal talent in domestic, foreign and international law,” he added.

    The International Legal Talents Training Office has been set up to serve as the co-ordinating body to take forward the establishment of the Hong Kong International Legal Talents Training Academy set out in the 2023 Policy Address.

    The office will also serve as the secretariat for the Hong Kong International Legal Talents Training Expert Committee, which was formed by three advisory boards comprising eminent legal experts and scholars from renowned international, Mainland and local legal organisations, and universities as members.

    Capitalising on Hong Kong’s bilingual common law system and international status, the academy will regularly organise training courses, seminars, international exchange programmes and more to promote exchanges among talent in regions along the Belt & Road.

    It will also provide training for talent in the practice of foreign-related legal affairs for the country, and nurture legal talent conversant with international law, common law, civil law and the country’s legal system.

    Dr Yang was admitted to the Chinese Bar in 2004 and currently holds the position of Deputy Secretary-General and Head of China Relations of the Hong Kong International Arbitration Centre (HKIAC).

    Prior to joining the HKIAC in 2018, Dr Yang was Associate Professor at the East China University of Political Science & Law where she taught international arbitration. She was also a visiting scholar at the University of Aix-en-Provence Marseille III in 2008 and at Boston University School of Law in 2017.

    MIL OSI Asia Pacific News –

    January 23, 2025

  • MIL-Evening Report: 700 million plastic bottles: we worked out how much microplastic is in Queensland’s Moreton Bay

    Source: The Conversation (Au and NZ) – By Elvis Okoffo, PhD candidate in Environmental Science, The University of Queensland

    M-Productions/Shutterstock

    When it rains heavily, plastic waste is washed off our streets into rivers, flowing out to the ocean. Most plastic is trapped in estuaries and coastal ecosystems, with a small fraction ending up offshore in the high seas.

    In the coastal ocean, waves and tides break down plastic waste into smaller and smaller bits. These micro and nanoplastics linger in the environment indefinitely, impacting the health of marine creatures from microorganisms all the way up to seabirds and whales, which mistake them for food.

    When we look at the scale of the problem of microplastics (smaller than 5mm) and nanoplastics (defined as 1 micrometer or less), we find something alarming. Our new research shows the shallow embayment of Moreton Bay, off Brisbane in Southeast Queensland now has roughly 7,000 tonnes of accumulated microplastics, the same as 700 million half-litre plastic bottles.

    This bay accumulates plastics fast, as the Brisbane River funnels the city’s waste into it, along with several other urban rivers. The research hasn’t yet been done, but we would expect similar rates of microplastics in Melbourne’s Port Phillip Bay and Sydney Harbour.

    Our research shows how much plastic waste from a big city makes it into its oceans.

    Brisbane’s Moreton Bay has mangroves and seagrass meadows as well as a port and many urban rivers.
    Ecopix/Shutterstock

    Plastic buildup in Moreton Bay

    What volume of microplastics does a large city accumulate offshore? It’s hard to measure this for cities built on open coastlines. That’s because sediments and microplastics are rapidly washed away from the original source by waves and currents.

    But Moreton Bay is different. The large sand islands, Moreton (Mugulpin) and North Stradbroke (Minjerribah) Islands largely protect the bay from the open ocean. This is why the bay is better described as an enclosed embayment. These restricted bays act as a trap for sediments and pollutants, as waves and currents have limited ability to wash them out. These bays make it possible to accurately measure a city’s microplastic build-up.

    The bay supports a range of marine habitats from mangroves, seagrass and coral reefs, as well as an internationally recognised wetland for migrating seabirds. Dugong and turtles have long grazed the seagrass in Moreton Bay’s shallow protected waters, while dolphins and whales are also present. But microplastic buildup may threaten their existence.

    Most types of plastic are denser than water, which means most microplastics in coastal seas will eventually sink to the seafloor and accumulate in sediment. Mangroves and seagrass ecosystems are particularly good at trapping sediment, which means they trap more microplastics.

    We wanted to determine whether Moreton Bay’s varying ecosystems had accumulated different amounts of plastics in the sediment.

    We measured the plastic stored in 50 samples of surface sediment (the top 10cm) from a range of different ecosystems across Moreton Bay, including mangroves, seagrass meadows and mud from the main tidal channels.

    The result? Microplastics were present in all our samples, but their concentrations varied hugely. We found no clear pattern in how plastics had built up. This suggests plastics were entering the bay from many sources.

    We tested for seven common plastics: polycarbonate (PC), polyethylene (PE), polyethylene terephthalate (PET), poly (methyl methacrylate) (PMMA), polypropylene (PP), polystyrene (PS), and polyvinyl chloride (PVC).

    Of these, the most abundant microplastic was polyethylene (PE). This plastic is widely used for single-use plastic items such as chip packets, plastic bags and plastic bottles. It’s the most commonly produced and used plastic in Australia and globally.

    In total, we estimate the bay now holds about 7,000 tonnes of microplastic in its surface sediments.

    In our follow-up paper we explored how rapidly these plastics had built up over time. We took two sediment cores from the central part of the bay, where sediment is accumulating. Cores like this act as an archive of sediment and environmental changes over time.

    The trend was clear. Before the 1970s, there were no microplastics in Moreton Bay. They began appearing over the next three decades. But from the early 2000s onwards, the rate rose exponentially. This is in line with the soaring rate of plastic production and use globally. Our analysis shows a direct link between microplastic concentration and population growth in Southeast Queensland.

    The challenge of measuring microplastics

    To date, we have had limited knowledge of how much plastic is piling up on shallow ocean floors. This is because measuring microplastics is challenging. Traditionally, we’ve used observation by microscope and a technique called absorption spectroscopy, in which we shine infrared light on samples to determine what it’s made up of. But these methods are time-consuming and can only spot plastic particles larger than 20 micrometres, meaning nanoplastics weren’t being measured.

    Our research team has been working to get better estimates of microplastic and nanoplastic using a different technique: pyrolysis-gas chromatography mass spectrometry. Here, a sample is dissolved in a solvent and then heated until it vaporises. Once in vapour form, we can determine the concentration of plastic and what types of plastics are present.

    This method can be used to estimate how much plastic pollution is present in everything from water to seafood to biosolids and wastewater.

    What’s next?

    It’s very likely microplastics are building up rapidly in other restricted bays and harbours near large cities, both in Australia and globally.

    While we might think microplastics are safe once buried in sediment, they can be consumed by organisms that live in the sediments. Currents, tides and storms can also wash them out again, where marine creatures can eat them.

    This is not a problem that will solve itself. We’ll need clear management strategies and policies to cut plastic consumption and improve waste disposal. Doing nothing means microplastics will keep building up, and up, and up.

    Elvis Okoffo receives funding from the Goodman Foundation, The Australian Academy of Science and The Australian Research Council (ARC) Training Centre for Hyphenated Analytical Separation Technologies (HyTECH).

    Alistair Grinham has received funding from state and federal government, industry and NGOs. He has an honorary role at the University and works for environmental monitoring company Fluvio.

    Ben Tscharke receives funding from the Australian Criminal Intelligence Commission and the Australian Research Council.

    Helen Bostock receives funding from the Australian Research Council.

    Kevin Thomas receives funding from the Australian Criminal Intelligence Commission, Australian Research Council, Goodman Foundation, Minderoo Foundation, National Health and Medical, Research Council, Queensland Corrective Services, Queensland Health and Research Council of Norway.

    – ref. 700 million plastic bottles: we worked out how much microplastic is in Queensland’s Moreton Bay – https://theconversation.com/700-million-plastic-bottles-we-worked-out-how-much-microplastic-is-in-queenslands-moreton-bay-238892

    MIL OSI Analysis – EveningReport.nz –

    January 23, 2025

  • MIL-Evening Report: Australia will protect a vast swathe of the Southern Ocean, but squanders the chance to show global leadership

    Source: The Conversation (Au and NZ) – By Andrew J Constable, Adviser, Antarctica and Marine Systems, Science & Policy, University of Tasmania

    The Albanese government has today declared stronger protections for the waters around Heard Island and McDonald Islands, one of Australia’s wildest, most remote areas. The marine park surrounding the islands will be extended by 310,000 square kilometres, quadrupling its size.

    Announcing the decision, Environment Minister Tanya Plibersek said Heard Island and McDonald Islands – about 4,000 kilometres southwest of Perth – are a “unique and extraordinary part of our planet. We are doing everything we can to protect it.”

    But the announcement, while welcome, is a missed opportunity on several fronts.

    Important areas around the islands remain unprotected, despite a wealth of scientific evidence pointing to the need for safeguards. On this measure, the government could have done far more to protect this unique wildlife haven.

    A special place

    Heard Island and McDonald Islands are a crucial sanctuary for marine life in the Southern Ocean. The land and surrounding waters support a food chain ranging from tiny plankton to fish, invertebrates, seabirds and marine mammals such as elephant seals and sperm whales.

    Both the marine and land environments of the islands are globally recognised for their ecological significance, and include species not found elsewhere in Australia.

    In 2002, a marine reserve was declared over the islands and parts of the surrounding waters. The reserve was extended in 2014.

    The expansion announced today means most waters around the islands have protection. The new safeguards primarily extend to foraging areas for seals, penguins and flying birds such as albatrosses.

    The expansion covers some deep water areas but excludes important deeper water locations including underwater canyons and seamounts, and a feature known as Williams Ridge.

    This is an important oversight that compromises the strength of the expanded protections.

    The protections do not extend to an important undersea feature known as William’s Ridge.

    The science is clear

    In March this year, my colleagues and I released a report showing existing protections for Heard Island and McDonald Islands were no longer adequate and should urgently be expanded.

    The report drew on more than two decades’ of research and new scientific understanding. In particular, we found climate change was warming the waters around the islands, posing risks to marine life such as the mackerel icefish.

    The icefish lives in shallow water and is an important food source for other animals. To maintain the islands’ biodiversity as the climate warms, we recommended extending the existing marine reserve to cover more shallow waters in the east, and protecting currently unprotected deeper waters.

    Today’s announcement does not protect these deeper waters. This is a major shortcoming. Our report showed deeper water areas to the east of Heard Island are significant to the region’s biodiversity, and to its ability to cope with warmer seas under climate change.

    The government says its decision came after extensive consultation with a range of parties – including the fishing industry and conservation groups.

    Heard Island and McDonald Islands host valuable fisheries for Patagonian toothfish and mackerel icefish. The footprint of fishing operations has expanded over the past 30 years.

    The fishery for mackerel icefish uses a range of methods including bottom trawling. This is the only fishery in the Southern Ocean to use bottom trawling methods. This is a damaging fishing technique that uses towed nets to catch fish and other marine species on or near the seabed.



    Read more:
    These extraordinary Australian islands are teeming with life – and we must protect them before it’s too late

    Deeper water areas to the east of Heard Island are significant to the region’s biodiversity.
    Wikimedia/Tristannew, CC BY

    A range of non-target fish species, especially skates, are accidentally caught by the fisheries around Heard Island and McDonald Islands. Skates are a vulnerable species because they are slow to grow and mature. Indicators suggest skate bycatch is too high.

    The new measures should have prevented fishing in some deeper waters to reduce pressure on this and other vulnerable species. In particular, bottom trawling should have been prohibited.

    As climate change worsens and fishing activity continues, the area must be managed to take account of these dual pressures. The management should also maximise the resilience of species imperilled by climate change, such as mackerel icefish – a cold-adapted species not found anywhere else in Australia’s marine zone.

    My colleagues and I proposed deep-sea protections over about 30% of the existing fishing grounds around Heard Island and McDonald Islands. Catch limits would not have been adjusted, and the fisheries were not likely to have been substantially affected.

    The decision to allow fishing, including bottom-trawling, in some areas of high conservation value means other measures will be needed to protect marine life in deep areas under pressure from climate change.

    An opportunity missed

    Today’s announcement follows a decision by the government last year to triple the size of Macquarie Island Marine Park. The move was largely in keeping with the science, and both protected important biodiversity regions and provided for fisheries.

    The protection awarded to Heard Island and McDonald Islands falls short of this standard. It fails to protect vulnerable marine species from climate change and fishing, and squanders a chance for Australia to show international leadership.

    Andrew J Constable received part funding from Pew Charitable Trusts and Australian Marine Conservation Society to produce the independent report on “Understanding the marine ecosystems surrounding Heard Island and McDonald Islands (HIMI) and their conservation status”.

    – ref. Australia will protect a vast swathe of the Southern Ocean, but squanders the chance to show global leadership – https://theconversation.com/australia-will-protect-a-vast-swathe-of-the-southern-ocean-but-squanders-the-chance-to-show-global-leadership-240789

    MIL OSI Analysis – EveningReport.nz –

    January 23, 2025

  • MIL-OSI: Clean Energy Technologies, Inc. Collaborates with True North Computing to Deliver Advanced Microgrid Solutions for Cryptocurrency Mining Operations

    Source: GlobeNewswire (MIL-OSI)

    Irvine, CA., Oct. 08, 2024 (GLOBE NEWSWIRE) — Clean Energy Technologies, Inc. (“CETY”) (Nasdaq: CETY), a clean energy manufacturing and services company offering eco-friendly green energy solutions, clean energy fuels, and alternative electric power for small and mid-size projects in North America, Europe, and Asia, has signed a memorandum of understanding with True North Computation, Inc. (TNC), a premier bitcoin mining company, to deliver advanced microgrid solutions for their datacenters and cryptocurrency mining operations.

    TNC is a well-established leader in the cryptocurrency mining sector, recognized for its focus on efficiency and environmental sustainability. This collaboration will empower TNC to optimize its energy consumption and improve the environmental impact of its mining operations by integrating CETY’s advanced microgrid solutions. CETY’s technology will reduce TNC’s energy costs through fully integrated power generation, energy storage, heat recovery, and energy management systems, delivering long-term savings in a 20MW microgrid application within the U.S. CETY and its affiliates will provide comprehensive engineering, procurement, and management services for this project.

    CETY’s solutions offer the following key benefits to crypto mining operations:

    • Reduce emissions from mining activities.
    • Increase uptime and ensure continuous, reliable operations.
    • Utilize an advanced energy management system to boost efficiency and lower operational costs.
    • Lower overall maintenance costs, contributing to long-term operational savings.

    “We are thrilled to partner with True North Computing to provide tailored microgrid solutions that meet the unique demands of crypto mining,” said Kam Mahdi, CEO of Clean Energy Technologies, Inc. “This partnership reflects our commitment to delivering innovative and environmentally friendly energy solutions that support the growth and productivity of high-energy-demand industries like cryptocurrency mining.”

    Microgrids are transforming the way energy is managed, particularly for high-demand operations such as AI datacenters and Bitcoin mining. These innovative systems provide localized power generation that can operate independently or alongside the main grid, ensuring uninterrupted power and increased operational resilience. With CETY’s advanced microgrid technologies, TNC will benefit from tailored solutions that not only enhance energy efficiency and reliability but also reduce operational costs and environmental impact.

    “We are excited to collaborate with Clean Energy Technologies, Inc. to enhance the energy efficiency and sustainability of our mining operations,” said Bruno Lauducer, CEO of TNC. “CETY’s expertise in microgrid solutions will enable us to achieve greater operational efficiency and reduce our environmental impact.”

    About True North Computation Group

    True North Computation Group (TNC) is a leading cryptocurrency mining company dedicated to achieving operational excellence and sustainability. TNC leverages cutting-edge technology and innovative strategies to maintain its position at the forefront of the bitcoin mining industry.

    For more information, visit https://www.tncgroup.ca

    About Clean Energy Technologies, Inc. (CETY)

    Headquartered in Irvine, California, Clean Energy Technologies, Inc. (CETY) is a rising leader in the zero-emission revolution by offering eco-friendly green energy solutions, clean energy fuels and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We deliver power from heat and biomass with zero emission and low cost. The Company’s principal products are Waste Heat Recovery Solutions using our patented Clean CycleTM generator to create electricity. Waste to Energy Solutions convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electricity and BioChar. Engineering, Consulting and Project Management Solutions provide expertise and experience in developing clean energy projects for municipal and industrial customers and Engineering, Procurement and Construction (EPC) companies.

    CETY’s common stock is currently traded on the Nasdaq Capital Market under the symbol “CETY.” For more information, visit http://www.cetyinc.com.

    For more information, visit http://www.cetyinc.com.

    Follow CETY on our social media channels: Twitter | LinkedIn | Facebook

    This summary should be read in conjunction with the Company’s quarterly report on Form 10-Q for the quarterly period ended March 31, 2024 and other periodic filings made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, which contain, among other matters, risk factors and financial footnotes as well as a discussions of our business, operations and financial matters located on the website of the Securities and Exchange Commission at http://www.sec.gov.

    Safe Harbor Statement

    This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company’s analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the “Safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of CETY’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by words such as: “anticipate,” “plan,” “expect,” “estimate,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Any forward-looking statement made by the Company in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Clean Energy Technologies, Inc.

    Investor and Investment Media inquiries:

    949-273-4990

    ir@cetyinc.com

    Source: Clean Energy Technologies, Inc.

    The MIL Network –

    January 23, 2025

  • MIL-OSI Australia: Federal Court orders Qantas to pay $100m in penalties for misleading consumers

    Source: Australian Competition and Consumer Commission

    Scam warning: The ACCC is aware that scammers have been calling people, falsely claiming to help them get payments. They may be using this media release about Qantas refunds to convince you that it is real.

    If you receive a call from anyone offering to help you with a payment or refund, hang up immediately. Never give personal information to anyone calling you out of the blue, never give access to your computer or bank account and never click on a link in a text message or open an attachment in an email if you were not expecting the text or email. If you have given information to a scammer or lost money, contact your bank immediately. Report scams to Scamwatch.

    Qantas, Australia’s largest airline, has today been ordered by the Federal Court to pay $100 million in penalties for misleading consumers by offering and selling tickets for flights it had already decided to cancel, and by failing to promptly tell existing ticketholders of its decision, in a case brought by the ACCC.

    These penalties were imposed after Qantas admitted that it had contravened the Australian Consumer Law (ACL) and agreed to make joint submissions with the ACCC to the Court that penalties of $100 million were appropriate to deter Qantas and other businesses from breaching the ACL in the future, while recognising Qantas’ cooperation in resolving the proceedings at an early stage.

    “This is a substantial penalty, which sets a strong signal to all businesses, big or small, that they will face serious consequences if they mislead their customers,” ACCC Chair Gina Cass-Gottlieb said.

    In addition to these penalties, on 5 May 2024 Qantas gave an undertaking to the ACCC that it would pay about $20 million to consumers who purchased tickets on flights that Qantas had already decided to cancel, or in some cases who were re-accommodated on those flights after their original flights were cancelled. These payments are on top of any remedies these consumers already received from Qantas, such as alternative flights or refunds. Consumers are encouraged to follow the steps outlined below to check if they are eligible for a payment. 

    “We all know the inconvenience of cancelled flights. When this happens, consumers need to know about the cancellation as soon as possible, so they can work out alternative arrangements which suit them.”

    “Up to about 880,000 consumers were affected by Qantas’ conduct. People had made plans, and may have spent money on other related purchases, relying on the fact that the flight would depart as advertised. And the delay in notifying them of the cancellation may have made it more stressful and costly to make alternative arrangements,” Ms Cass-Gottlieb said.

    Qantas knew of the issues and benefited from misleading consumers

    Qantas admitted that senior managers responsible for different aspects of Qantas’ systems and operations between them knew that cancelled flights were not immediately removed from sale; that some consumers booked tickets for flights that had already been cancelled; that existing ticketholders were not immediately notified; and that the ‘Manage Booking’ pages were not promptly updated when flights were cancelled.

    Qantas admitted that it benefited from the conduct by obtaining revenue from consumers who may have chosen a cheaper Qantas flight or a flight with another carrier had they known their chosen flight had already been cancelled. Qantas also benefited by retaining revenue from consumers who were less likely to change carrier when they were eventually notified their flight had been cancelled. In addition, by delaying fixing its systems, Qantas saved the costs of doing so at an earlier point in time.

    How Qantas breached the Australian Consumer Law

    Qantas admitted it breached the Australian Consumer Law by engaging in misleading or deceptive conduct, making false or misleading representations and engaging in conduct liable to mislead the public about more than 82,000 flights scheduled to depart between May 2022 and May 2024.

    Qantas breached the law in two ways. First, it continued to offer and sell tickets for flights for two or more days after it had decided to cancel those flights. Second, Qantas continued to display flight details on the ‘Manage Booking’ page of existing ticketholders for two or more days after it had decided to cancel the relevant flight with no indication that Qantas had decided to cancel that flight. Qantas also did not otherwise notify consumers that their flight had been cancelled.

    Qantas continued to sell tickets to cancelled flights

    Qantas continued to offer tickets for sale to tens of thousands of domestic and international flights for two or more days after it had decided to cancel those flights and sold tickets to consumers on some of those flights. This affected:

    • 70,543 flights (69,237 domestic and trans-Tasman flights, and 1,306 international flights).
    • 86,597 consumers who made bookings on, or were re-accommodated to, a flight that had already been cancelled (81,238 of those consumers made a booking on a domestic or trans-Tasman flight and 5,359 made a booking on an international flight).

    On average, tickets for these cancelled flights were offered for sale for about 11 days after cancellation, and in some cases, for up to 62 days after cancellation.

    Qantas delayed notifying ticketholders of flight cancellation

    Qantas also continued to display details for flights on the ‘Manage Booking’ page of ticketholders for two or more days after Qantas had decided to cancel the flight with no indication that Qantas had already decided to cancel the flight. This affected:

    • 60,297 flights (57,274 domestic/trans-Tasman and 3,023 international).
    • 883,977 consumers (806,406 had bookings on a domestic/trans-Tasman flight and 77,571 held bookings on an international flight).

    On average, it took Qantas about 11 days for ticketholders to be notified of the cancellation of their flight. In some cases, this took up to 67 days.

    Payments of around $20 million to certain affected consumers

    In addition to the $100 million in penalties, Qantas has undertaken to pay around $20 million to consumers who made bookings on flights that Qantas had already decided to cancel, or were reaccommodated onto these flights after the cancellation of another flight.

    Consumers who made a booking (or were reaccommodated) on a flight two or more days after a decision had already been made to cancel that flight are eligible to receive payments of $225 for domestic/trans-Tasman passengers or $450 for international passengers.

    These payments are in addition to any remedies consumers already received from Qantas, such as alternative flights or refunds.

    The payments are being made in accordance with a court-enforceable undertaking Qantas gave to the ACCC, which requires it to establish a consumer remediation program.

    Consumers should check their emails for communications from Qantas and Deloitte, which they should have received if they are eligible to make a claim.

    Qantas contacted the majority of eligible consumers on or before 10 July 2024. Consumers have until 6 May 2025 to submit their claim for a payment through the Qantas Customer Remediation Program.

    “The ACCC urges all eligible consumers impacted by this conduct to submit their claims as soon as possible, so they can receive their payment,” Ms Cass-Gottlieb said.

    Qantas is required to make all payments to eligible consumers within 60 days of payment information being provided by the consumer (or a person on their behalf) and acceptance of this information by Qantas/Deloitte.

    Payments are made to the banking details nominated by the relevant person. The intention is that payments will be made to affected travellers.

    Further information is available at https://www.qantas.com/au/en/book-a-trip/flights/qantas-customer-remediation-program.html which links to the secure online portal hosted by Deloitte through which eligibility assessment and collection of payment information are conducted.

    If the amount paid does not reach $20 million at the conclusion of the remediation program (6 May 2025), the residual balance will be donated to a charitable organisation to be approved by the ACCC.

    Qantas systems changed

    After the start of the proceedings, Qantas made changes to its operating and scheduling systems so that it is no longer engaging in the conduct.

    “A large, well-resourced company like Qantas should have had strong operating and compliance programs in place that would have prevented these issues from arising. However, we are pleased that Qantas has made changes to its operating and scheduling, and has undertaken to amend its compliance programs,” Ms Cass-Gottlieb said.

    The ACCC acknowledges Qantas’ cooperation in resolving this proceeding at an early stage, and its undertaking to implement a remediation program ahead of the Court hearing to finalise this case.

    The court also ordered Qantas to pay a contribution to the ACCC’s costs, by consent.

    Background

    Qantas is Australia’s largest domestic airline operator. It is a publicly listed company which operates domestic and international passenger flights under its mainline brand, Qantas, and through its subsidiary Jetstar. It offers flights for sale through direct channels, such as its website and app, and indirect channels, such as travel agents and third-party online booking websites.

    The ACCC is an independent statutory government authority and Australia’s peak consumer protection and competition agency.

    The ACCC uses a range of tools to promote compliance with the Competition and Consumer Act (CCA) and the Australian Consumer Law.

    This includes commencing proceedings in the Federal Court for alleged breaches of the CCA and ACL. The ACCC is not able to determine a breach of the law – only a Court can find that a contravention has occurred.

    If the ACCC is successful in a Federal Court matter, the penalty imposed is determined by the Court. The ACCC makes submissions to the Court on the appropriate penalty it considers should be imposed. In this instance the submissions were jointly made with Qantas.

    The ACCC commenced its court action against Qantas on 31 August 2023, and Qantas agreed to make joint submissions in support of $100 million in penalties with the ACCC in May 2024.

    MIL OSI News –

    January 23, 2025
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