NewzIntel.com

Category: Machine Learning

  • MIL-OSI USA: DLNR News Release – Non-Resident Fishing Licenses Expected to Generate $1 Million Annually, Feb. 6, 2025

    Source: US State of Hawaii

    DLNR News Release – Non-Resident Fishing Licenses Expected to Generate $1 Million Annually, Feb. 6, 2025

    Posted on Feb 6, 2025 in Latest Department News, Newsroom

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

    DEPARTMENT OF LAND AND NATURAL RESOURCES

    KA ʻOIHANA KUMUWAIWAI ‘ĀINA

     

    JOSH GREEN, M.D.
    GOVERNOR

    KE KIAʻĀINA

     

    DAWN CHANG

    CHAIR

     

    NON-RESIDENT FISHING LICENSES EXPECTED TO GENERATE $1 MILLION ANNUALLY

    FOR IMMEDIATE RELEASE

    Feb. 6, 2025

    HONOLULU – Hawai‘i is joining other ocean states and now requires a license for recreational ocean fishing for non-Hawai‘i residents.

    Revenues from license sales will be used exclusively to support fishing in the state. An anticipated $1 million each year will be used to fund fish aggregation devices (FADs), artificial reefs, stock enhancement and other fish restoration projects conducted by the DLNR Division of Aquatic Resources (DAR).

    In June 2021, the Hawai‘i State Legislature passed Act into law, requiring nonresidents of Hawaiʻi to obtain recreational marine fishing licenses. The law was codified at Hawaii Revised Statutes (HRS) §188-72. The DLNR subsequently adopted rules to implement the law, Hawai‘i Administrative Rules (HAR) § 13- 74-11, which took effect on May 2, 2024.

    Licenses cost $20 for one day and $40 for seven days. Annual licenses are available for $70. Nonresident youth under age 15 can fish without licenses, as can active-duty military personnel and their families.

    # # #

     

    RESOURCES

    (All images/video courtesy: DLNR)

    HD video – Kewalo Basin Harbor (June 3, 2021):

    Photographs – Kewalo Basin, O‘ahu charter fishing vessels (June 3, 2021):

    Get licenses at the DLNR/DAR website:

    Website screen shots:

     

    Media contact:

    Dan Dennison

    Communications Director

    Hawai‘i Dept. of Land and Natural Resources

    Phone: 808-587-0396

    MIL OSI USA News –

  • MIL-OSI: Hyperscale Data Announces 19.2 Bitcoin Mined in January 2025

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Feb. 07, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its wholly owned subsidiary Sentinum, Inc. (“Sentinum”) mined approximately 19.2 Bitcoin in the month of January 2025, which were mined at the Company’s data center in Michigan (the “Data Center”). The January monthly mining run rate of approximately $1.9 million in Bitcoin mining revenue is based upon a current Bitcoin price of approximately $97,000.

    Milton “Todd” Ault III, Executive Chairman of Hyperscale Data, stated, “We are transitioning to becoming a provider of high-performance computing (“HPC”) services powering AI solutions, which we believe holds greater promise in the foreseeable future, and we expect the transition will be completed at the end of September 2025. In the meantime, we remain confident in our mining operations and maintain our medium-term view on Bitcoin as an appreciating asset that supports the Company’s overall capital allocation strategy. We also expect to bring Bitcoin mining machines back online at our Montana location by the end of March, which will bolster our mining activities. Assuming Bitcoin maintains its current price of approximately $97,000, and that the Company has fully transitioned the Data Center’s existing power capacity of 30MW from self-mining of Bitcoin to HPC services in September of this year, we anticipate generating approximately $20 million in Bitcoin mining revenue in 2025. If our transition to HPC services is delayed, then we would realize additional revenue from our Bitcoin operations.”

    Hyperscale Data notes that all estimates and other projections are subject to the volatility in Bitcoin market price, the fluctuation in the mining difficulty level, the ability to build out and provide the necessary power for miners, and other factors that may impact the results of Bitcoin mining production or operations.

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Hyperscale Data is transitioning from a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact to becoming solely an owner and operator of data centers to support high performance computing services. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides, through its wholly owned subsidiary, Ault Capital Group, Inc., mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network –

  • MIL-OSI Asia-Pac: ESTABLISHMENT OF CRIDA MISSION OFFICE IN MARATHWADA REGION

    Source: Government of India

    Posted On: 07 FEB 2025 4:46PM by PIB Delhi

    ICAR- CRIDA is working in the Marathwada region of Maharashtra extensively and directly in three different ways with an overall aim to conduct essential and strategic research on dryland agriculture (through All India Coordinated Research Project on Dry Land Agriculture (AICRPDA) and All India Coordinated Research Project on Agro-Meteorology (AICRPAM) centres and utilize its results in the Marathwada Region to assist struggling farmers through National Innovations in Climate Resilient Agriculture – Technology demonstration component (NICRA-TDC):

    (1). AICRPDA Parbhani centre located in Marathwada region is working for evaluation and establishment of region-specific crops and cropping systems; rainwater management; nutrient management; energy management; alternate land use management and Rainfed Integrated Farming Systems (RIFS).

    (2). AICRPAM Parbhani centre located in Marathwada region is working in the area of resource characterization; establishing crop-weather-insect-pest relationship of major crops in Marathwada region, and dissemination of region based agro-met advisories.

    (3). Jalna, Latur and Osmanabad centres of NICRA-TDC through the KVKs situated in the Marathwada region are upscaling the climate resilient technologies in the region under four modules, i.e., natural resource management, crops and cropping system, livestock, village level institutions, capacity building etc. The major technologies which are being upscaled in the region are short duration and drought escaping soybean variety (MAUS-158); short duration pigeonpea variety (BDN-711) for the frequently drought prone regions; stress tolerant variety of safflower (PBNS-12) for receding moisture conditions; stress tolerant rabi sorghum variety (Parbhani Moti); Intercropping systems for stabilizing production and to minimize risk in drought prone-regions for risk minimization in frequently drought prone regions of Maharashtra to assist struggling farmers.     

    The proposal to establish a mission office in Marathwada region of Maharashtra is not under consideration.

    ICAR-IGFRI has developed Fodder Resource Development Plan for Maharashtra including Marathwada Region focused on aiding farmers in distress.  This Plan helped in reducing the gap of 31.3% shortage of dry fodder and 59.4% shortage of green fodder in Maharashtra. To further add the forage availability, a policy was developed for Indian Rangeland and Grassland Conservation, Restoration and Sustenance, which helped in rejuvenating the grasslands of Maharashtra.

    Further, Two Centres of All India Coordinated Research Project on Forage Crops and Utilization (AICRP-FC&U) supported from ICAR are already working at Pune and Rahuri, to generate and disseminate the technologies for whole of the Maharashtra including Marathwada region on fodder Crops in Rabi and Kharif season on Farmers’ Field.

    During the last five years, more than 50 varieties in different fodder crops have been developed and recommended by AICRP-FC&U and ICAR-IGFRI for the cultivation in the different parts of Maharashtra.

    This information was given by Minister of State for Agriculture and Farmers Welfare, Shri Bhagirath Choudhary in a written reply in Rajya Sabha today.

    ******

     MG/KSR

    (Release ID: 2100675) Visitor Counter : 30

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: INITIATIVES TO PROMOTE SUSTAINABLE FARMING PRACTICES AND RESILIENCE AGAINST CLIMATE CHANGE

    Source: Government of India

    Posted On: 07 FEB 2025 4:45PM by PIB Delhi

    The Government through ICAR flagship network project ‘National Innovations in Climate Resilient Agriculture’ (NICRA) develop and promotes climate resilient agricultural technologies in 151 climatically vulnerable districts spread across the country, which are prone to extreme weather conditions like droughts, floods, frost, heatwaves, etc in light of the challenges posed by climate change. Climate resilient technologies viz., climate resilient varieties, intercropping systems, conservation agriculture, crop diversification, agroforestry systems, zero-till sowing, green manuring, integrated farming systems, integrated nutrient and pest management, organic farming, site specific nutrient management, in-situ moisture conservation, protective irrigation, micro irrigation methods etc. have been developed and demonstrated to large number of farmers through farmers’ participatory approach. Further, these technologies have been documented for 23 States and 3 Union Territories and shared with the State departments for further upscaling and convergence with on-going schemes in the States.

    To promote Precision Agriculture, ICAR has a Network Program on Precision Agriculture (ICAR-NePPA) working at 16 locations to develop ICT based technologies for accelerated profitable and sustainable system through precise use of inputs. Some of the outcomes of the project related to adopting to climate change/ weather aberrations are as, sensor-based soil and crop health monitoring and precision management of inputs (water and fertilizer) using robotics, IoTs and Data analytics; developed technologies for pest and disease monitoring particularly for rice and cotton crops for value added advisories for real time management.

    ICAR operates All India Coordinated Research Programme on Integrated Farming Systems (AICRP-IFS) in 25 States/UTs and All India Network Programme on Organic Farming (AINP-OF) in 16 States to develop sustainable farming practices such as alternate efficient cropping systems, integrated farming systems, organic farming and natural farming to address the challenges posed by climate change. A total of 76 models of integrated farming system (IFS) including 8 integrated organic farming system models for 26 States/UTs and organic farming packages for 80 cropping systems suitable to 16 States have been developed so far.          

    (c):    To help farmers in building resilience against extreme weather events and ensure long-term agricultural sustainability in the country, the Government of India implements National Mission for Sustainable Agriculture (NMSA), which is one of the Missions within the National Action Plan on Climate Change (NAPCC). NMSA has three major components i.e. Rainfed Area Development (RAD); On Farm Water Management (OFWM); and Soil Health Management (SHM). The Government of India provides financial assistance to the states through the NMSA to cope with the adverse impacts of climate change.

    Further, Government has introduced flagship yield based Pradhan Mantri Fasal Bima Yojana (PMFBY) along with Restructured Weather Based Crop Insurance Scheme (RWBCIS) from Kharif 2016 to help farmers build resilience against extreme weather events.

    Through Technology Demonstration component of NICRA, 6,93,629 farmers were benefitted through technology demonstrations and 6,47,735 farmers were benefitted through 23,613 capacity building programs on climate resilient agriculture.

    This information was given by Minister of State for Agriculture and Farmers Welfare, Shri Bhagirath Choudhary in a written reply in Rajya Sabha today.

    ******

     MG/KSR

    (Release ID: 2100674) Visitor Counter : 39

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: ACHIEVEMENT OF TARGETS UNDER PMAY-G

    Source: Government of India

    Posted On: 07 FEB 2025 4:28PM by PIB Delhi

    In order to achieve the objective of “Housing for All” in rural areas, the Ministry of Rural Development is implementing Pradhan Mantri Awaas Yojana- Gramin (PMAY-G) with effect from 1st April 2016 to provide assistance to 2.95 crore eligible rural households with basic amenities by March 2024. As on 31.03.2024, all houses have been sanctioned to the eligible beneficiaries by the states/UTs.

    The Union Cabinet has approved the proposal for “Implementation of the Pradhan Mantri Awaas Yojana- Gramin (PMAY-G) during FY 2024-25 to 2028-29” for construction of additional 2 crore houses. Ministry has allocated targets of 84,37,139 houses during 2024-25 to the 18 States viz. Assam, Bihar, Chhattisgarh, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Kerala, Madhya Pradesh, Maharashtra, Manipur, Odisha, Punjab, Rajasthan, Tamil Nadu, Uttar Pradesh, Andhra Pradesh, and Karnataka.

    As on 02.02.2025, a cumulative target of 3.79 crore houses have been allotted to States/UTs out of which 3.34 crore houses have been sanctioned and 2.69 crore houses have been completed.

    The main challenges in implementation of PMAY-G include the delay in release of Central & State Share from State Treasury to State Nodal Account of PMAY-G, cases of unwillingness of beneficiaries, permanent migration, disputed succession of deceased beneficiaries, delay in allotment of land to landless beneficiaries by the States/UTs and at times General/Assembly/Panchayat elections, unavailability of building materials.

    The Ministry is taking the following initiatives to ensure monitoring and timely completion of the houses under PMAY-G:

    1. Timely allocation of targets to the States/UTs.follow-up with States / UTs on providing land to landless beneficiaries of PMAY-G
    2. Issue based monitoring of house sanction and completion through workflow enabled transaction-based MIS-AwaasSoft, analytic Dashboard and using other IT tools & latest AI/ML technologies.
    3. Regular review by Minister/ Secretary/ Deputy Director General.
    4. Separate review of States with high targets.
    5. Timely release of funds to the States/UTs and follow up with the States/UTs for onward release to beneficiaries.
    6. Training to Rural Masons under Rural Mason Training (RMT) programme to make available pool of trained rural masons for faster construction of quality houses.
    7. Using newly launched IT tools including Awaas+ 2024 mobile app which ensures transparent beneficiary identification with Aadhaar-based face authentication.
    8. Creation of a dedicated performance index dashboard to create healthy competition and motivation among the States/UTs for achieving the set targets.

    This information was given by Minister of State for Rural Development, Shri Dr. Chandra Sekhar Pemmasani written reply in Rajya Sabha today.

    ******

     MG/KSR

    (Release ID: 2100662) Visitor Counter : 57

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Ministry of Electronics & Information Technology (MeitY) drives Swachhata Pakhwada: A two-week cleanliness campaign being implemented during February 1-15, 2025

    Source: Government of India (2)

    Posted On: 07 FEB 2025 3:08PM by PIB Delhi

    Ministry of Electronics & Information Technology (MeitY) celebrates a fortnight long Swachhata Pakhwada this year, inspired by the Prime Minister’s vision to make swachhata “everyone’s business” and to involve all Central Government Ministries and Departments including all the attached institutions/organizations/autonomous bodies/CPSEs also in swachhata related activities.

     

    Swachhata pledge being administered by Shri S Krishnan, Secretary MeitY

    10 years of swachhata pakhwada

    The year 2025 is the 10th consecutive year of Swachhata Pakhwada implementation. The proposed calendar, along with guidelines for Swachhata Pakhwada, has been shared with all the associated organizations of MeitY. They are engaging in Shramdan activities in the communities where they are located and to which they are connected by virtue of their work. Departmental canteens run by MeitY have been taken up for priority Swachhata makeover.

    A Step towards clean India, healthy India

    The Swachhata Pledge was administered by Secretary MeitY on 03.02.2025 with the participation of AS, JSs, GCs, CISF officers & staff, CEOs and officers and officials of MeitY. The officers/officials of autonomous/ attached/subordinate offices/statutory bodies/Autonomous societies and PSUs viz. NIC, STQC, CCA, ICERT, UIDAI, NIELIT, STPI, ERNET India, C-DAC, C-MET, SAMEET, SCL, BISAG(N) NIXI, NICSI, DIC (incl. My-Gov, NeGD), CSC participated in their respective Swachhata pledges.

    The banners and posters on Swachhata Pakhwada were prominently displayed. All organizations participated enthusiastically on daily basis to achieve the goal of “Clean India and Healthy India: With your cooperation, a step towards cleanliness”. Activities like removal of unwanted clutter, dusting and sanitization, waste segregation, toilet cleaning etc. were carried out to achieve cleaner workplace and pleasant surrounding area.

    Photographs and videos of the event were taken and uploaded on Swachhata Portal. The MeitY has also issued messages on X social media.

    *****

    Dharmendra Tewari/Kshitij Singha

    (Release ID: 2100614) Visitor Counter : 80

    MIL OSI Asia Pacific News –

  • MIL-OSI: Levels Protocol Launches Solana’s First-Ever Changing Token

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Feb. 07, 2025 (GLOBE NEWSWIRE) — By introducing the first token that changes in real-time as its market capitalisation increases, Levels Protocol is revolutionising cryptocurrency in the Solana Ecosystem. In contrast to conventional digital assets, level tokens automatically update their names, symbols, and metadata on-chain to reflect significant events and promote an engaging, dynamic trading environment.

    A Token That Grows Alongside Its Community

    Levels Protocol, based on Solana’s fast blockchain, allows tokens to change without requiring manual modification. With each price milestone being a collective accomplishment for token holders, this innovation produces an exciting investment experience.

    Users can create changing tokens with the Levels Launchpad dApp, transforming market momentum into a gamified experience where progress is rewarded at every round.

    How It Works:

    * $0.0001: Token name = “levels”
    * $0.001: Token name = “levelsss”
    * $0.01: Token name = “levelssssss”
    * $0.1: Token name = “levelssssssssss”
    * $1: Token name = “levelssssssssssssssss”

    An Ecosystem Driven by the Community

    The foundation of Levels Protocol is an incentive-driven framework intended to encourage participation and long-term viability.

    Promoting Intense Engagement

    Every $500 invested earns traders points, which they can use to obtain $LEVELS airdrops and guarantee leaderboard rankings.

    Developers vie for rewards ranging from $30,000 to $50,000+, which spurs ongoing innovation.

    Platform fees are distributed to stakers, guaranteeing long-term value and usefulness.

    A Well-Timed Launch for Long-Term Effects

    In order to sustain community participation and enthusiasm, Levels Protocol uses a staggered release strategy, providing new utilities gradually rather than launching with all features at once.

    Transforming the Cryptocurrency Trading Industry

    Levels Protocol provides a distinctive take on tokenomics by fusing gamification, decentralised technology, and community cooperation. With each milestone reflecting collective progress, its dynamic structure turns static digital assets into community-driven, dynamic entities.

    MEDIA DETAILS:
    Website: https://levelsprotocol.dev
    Person Name: Azul Yager
    Webmail: Azulyager@levelsprotocol.dev
    Location: Sheikh Mohammed Bin Rashed Boulevard, Downtown Dubai, PO Box 111969, Dubai, United Arab Emirates.

    Disclaimer: This press release is provided by Levels Protocol. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cd15edb4-2a68-4b03-9cb1-e0d1525cc748

    The MIL Network –

  • MIL-OSI: The GraniteShares YieldBoost TSLA ETF (TSYY) Yielded an Annualized Distribution of Approximately 35% Generating a 7.9% Total Return. TSYY Went Ex-Dividend on January 24, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 07, 2025 (GLOBE NEWSWIRE) — YieldBOOST is an innovative strategy that aims to combine high income potential by selling options on leveraged ETFs which generally command a higher premium than options on stocks, while focusing on NAV preservation by writing options which have a lower chance of being exercised (“out of the money” options). GraniteShares believes that this holistic approach is an improvement over existing option income strategies mainly known as “covered call” strategies.

    The fact that TSYY was able to generate a positive total return over the same period the TSLA stock price was significantly down, illustrates the robustness of the YieldBOOST approach developed by GraniteShares.

    The main problem with covered call strategies is that they prioritize income or yield over total return. With a covered call, the options seller typically sells “at the money” which enables the seller to generate the maximum amount of premium at the point of sale. An option is considered at-the-money when the strike price is very close to the current market price of the underlying asset.

    This approach encompasses the problem that the option has a much higher chance of being exercised if the value of the underlying asset goes up, hence capping the upside. If the underlying asset falls in value, the strategy is fully exposed to the downside. The main design flaw with covered call strategies can be a nice yield but poor total return and therefore a poor investment long term.

    TSYY is the first ETF in GraniteShares’ YieldBOOST lineup, and additional YieldBOOST products are expected to come to market over the coming months. The fund’s primary investment objective is to seek current income. The fund’s secondary investment objective is to seek exposure to the performance of one or more exchange-traded funds whose shares trade on a U.S.-regulated securities exchange and that seek daily leverage investment results of 2 times (200%) the daily percentage of the common stock of Tesla Inc. (NASDAQ: TSLA) (the “Underlying Stock”) subject to a limit on potential investment gains.

    About GraniteShares:

    GraniteShares is an award-winning global investment firm dedicated to creating and managing ETFs. Headquartered in New York City, GraniteShares provides products on U.S., U.K, German, French & Italian stock exchanges. The firm is a market leader in leveraged single-stock ETFs and provides innovative, cutting-edge investment solutions for the high conviction investor.

    Founded in 2016, GraniteShares is an ETF provider focused on providing innovative, cutting-edge alternative investment solutions. Its U.S. ETF offerings include a broad-based commodity index fund, physically backed gold and platinum funds and a high-income pass-through securities index fund.

    GraniteShares also offers a suite of leveraged single stock ETFs, including those targeting NVIDIA, Coinbase and Tesla. The company has $8.9 billion in assets under management as of January 24, 2025.

    For complete information about the GraniteShares YieldBOOST TSLA ETF (TSYY), please visit:
    https://graniteshares.com/institutional/us/en-us/

    Link to Prospectus: https://graniteshares.com/institutional/us/en-us/etfs/tsyy/

    Media Contact:

    GraniteShares Inc.
    William Rhind
    222 Broadway, 21 Floor,
    New York, NY, 10038
    844-476-8747
    info@graniteshares.com

    Disclaimer 

    IMPORTANT INFORMATION 

    This material must be preceded or accompanied by a Prospectus. Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. Please read the prospectus before investing.

    Shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns. 

    An investment in the Fund involves risk, including the possible loss of principal. The Fund is non-diversified and includes risks associated with the Fund concentrating its investments in a particular industry, sector, or geographic region which can result in increased volatility. The use of derivatives such as option contracts and swaps are subject to market risks that may cause their price to fluctuate over time. Risks of the Fund include Risk of the Underlying ETF, Derivatives Risk, Affiliate Fund Risk, Counterparty Risk, Price Participation Risk, Distribution Risk, NAV Erosion Risk, Put Writing Strategy Risk, Option Market Liquidity Risk. These and other risks can be found in the prospectus.

    This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Please consult your tax advisor about the tax consequences of an investment in Fund shares, including the possible application of foreign, state, and local tax laws. You could lose money by investing in the ETFs. There can be no assurance that the investment objective of the Funds will be achieved. None of the Funds should be relied upon as a complete investment program.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/b9c2ffd3-df2f-498d-847a-56a103777b2d

    https://www.globenewswire.com/NewsRoom/AttachmentNg/bb08dd54-2840-4d31-8d6a-762d522d31b3

    The MIL Network –

  • MIL-OSI: Defiance Launches ORCX, The First 2X Leveraged Single-Stock ETF on Oracle Corporation.

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Feb. 07, 2025 (GLOBE NEWSWIRE) — Defiance ETFs is proud to unveil ORCX, the first 2X long ETF for Oracle Corporation. ORCX seeks to provide 200% long daily targeted exposure to Oracle Corporation (NYSE: ORCL) (the “Underlying Security” or “ORCL”). Defiance’s single-stock ETFs provide leveraged exposure to disruptive companies without the need for a margin account.

    “Defiance is excited to launch ORCX, which seeks to provide amplified exposure to Oracle. Oracle’s Stargate initiative is a game-changer, enhancing multi-cloud connectivity and driving seamless data integration across platforms. This innovation enhances Oracle’s position in enterprise AI and cloud infrastructure, presenting a potential growth avenue for investors interested in the evolving tech landscape,” said Sylvia Jablonski, CEO of Defiance ETFs.

    The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund pursues a daily leveraged investment objective, which means that the Fund is riskier than alternatives that do not use leverage because the Fund magnifies the performance of its Underlying Security. The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. For periods longer than a single day, the Fund will lose money if the Underlying Security’s performance is flat, and it is possible that the Fund will lose money even if the Underlying Security’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day.

    An investment in the ETF is not an investment in Oracle Corporation.

    About Defiance ETFs

    Founded in 2018, Defiance is at the forefront of ETF innovation. Defiance is a leading ETF issuer specializing in thematic, income, and leveraged ETFs.

    Our first-mover leveraged single-stock ETFs empower investors to take amplified positions in high-growth companies, providing precise leverage exposure without the need to open a margin account.

    Important Disclosures

    The fund attempts to provide daily investment results that correspond to two times (200%) the share price performance of an underlying exchange-traded fund (an “Underlying Security”). The Fund is not intended to be used by, and are not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund is very different from most mutual funds and exchange-traded funds. The Fund may not achieve investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Underlying Security, and may return substantially less during such periods. During such periods, the Fund’s actual leverage levels may differ substantially from its intended target, both intraday and at the close of trading, potentially resulting in significantly lower returns.

    The Fund’s investment adviser will not attempt to position a Fund’s portfolio to ensure that the Fund does not gain or lose more than a maximum percentage of its net asset value on a given trading day. As a consequence, if an Underlying Security’s share price referenced by a Fund decreases by more than 50% on a given trading day, the corresponding Fund’s investors could lose all of their money.

    Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments, LLC (“Tidal” or the “Adviser”).

    The Funds’ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company. Please read carefully before investing. A hard copy of the prospectuses can be requested by calling 833.333.9383.

    Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single industry or country, may be subject to a higher degree of risk.

    Underlying Security Risk. The Fund invests in swap contracts and options that are based on the share price of ORCL. This subjects the Fund to certain of the same risks as if it owned shares of ORCL, even though it does not.

    Indirect Investment in ORCL Risk. ORCL is not affiliated with the Trust, the Fund, or the Adviser, or their respective affiliates and is not involved with this offering in any way and has no obligation to consider your Shares in taking any corporate actions that might affect the value of Shares.

    ORCL Trading Risk. The trading price of ORCL may be subject to volatility and could experience wide fluctuations due to various factors. Short sellers may also play a significant role in trading ORCL, potentially affecting the supply and demand dynamics and contributing to market price volatility. Public perception and external factors beyond the company’s control may influence ORCL’s stock price disproportionately.

    ORCL Performance Risk. ORCL may fail to meet its publicly announced guidelines or other expectations about its business, which could cause the price of ORCL to decline. ORCL provides guidance regarding its expected financial and business performance, such as projections regarding sales and production, as well as anticipated future revenues, gross margins, profitability and cash flows. Correctly identifying key factors affecting business conditions and predicting future events is inherently an uncertain process, and the guidance ORCL provides may not ultimately be accurate.

    Software Industry Risk. The software industry can be significantly affected by intense competition, aggressive pricing, technological innovations, and product obsolescence. Companies in the software industry are subject to significant competitive pressures, such as aggressive pricing, new market entrants, competition for market share, short product cycles due to an accelerated rate of technological developments and the potential for limited earnings and/or falling profit margins.

    Operations and Business Risks. ORCL may be unsuccessful in developing and selling new products and services, integrating acquired products and services and enhancing its existing products and services.

    Data Security Risks. If ORCL’s security measures for its products and services are compromised and as a result, its data, its customers’ data or its IT systems are accessed improperly, made unavailable, or improperly modified, ORCL’s products and services may be perceived as vulnerable, its brand and reputation could be damaged, the IT services ORCL provides to its customers could be disrupted, and customers may stop using ORCL’s products and services, any of which could reduce ORCL’s revenue and earnings, increase its expenses and expose it to legal claims and regulatory actions.

    Intellectual Property Risks. ORCL relies on copyright, trademark, patent and trade secret laws, confidentiality procedures, controls and contractual commitments to protect its intellectual property. Despite ORCL’s efforts, these protections may be limited.

    Leverage Risk. The Fund obtains investment exposure in excess of its net assets by utilizing leverage and may lose more money in market conditions that are adverse to its investment objective than a fund that does not utilize leverage. An investment in the Fund is exposed to the risk that a decline in the daily performance of the Underlying Security will be magnified.

    High Portfolio Turnover Risk. Daily rebalancing of the Fund’s holdings pursuant to its daily investment objective causes a much greater number of portfolio transactions when compared to most ETFs.

    Liquidity Risk. Some securities held by the Fund may be difficult to sell or be illiquid, particularly during times of market turmoil. Markets for securities or financial instruments could be disrupted by a number of events, including, but not limited to, an economic crisis, natural disasters, epidemics/pandemics, new legislation or regulatory changes inside or outside the United States.

    Derivatives Risk. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, leverage, imperfect daily correlations with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Compounding and Market Volatility Risk. The Fund has a daily leveraged investment objective and the Fund’s performance for periods greater than a trading day will be the result of each day’s returns compounded over the period, which is very likely to differ from two times (200%) the Underlying Security’s performance, before the Fund’s management fee and other expenses.

    Fixed Income Securities Risk. When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security, may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Diversification does not ensure a profit nor protect against loss in a declining market.

    Brokerage Commissions may be charged on trades.

    Distributed by Foreside Fund Services, LLC

    Contact Information:

    David Hanono

    833.333.9383
    info@defianceetfs.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9a2f6854-1043-4edc-8250-60065d17e319

    The MIL Network –

  • MIL-OSI Russia: “The situation in Russian science looks stable and positive”

    Translartion. Region: Russians Fedetion –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    © Higher School of Economics

    On the eve of Russian Science Day, TASS held a press conference dedicated to the results of the third round of the comprehensive study “We do science in Russia” He was conducted Institute for Statistical Research and Economics of Knowledge (ISSEZ) HSE. The authors of the study and experts representing higher education, research institutes and industry spoke about the state of domestic science, the drivers of its development, the dynamics of change and the barriers that need to be overcome.

    The first “Making Science in Russia” study was conducted in 2017, the second round took place in 2022, and the third from October to November 2024.

    Present and future

    As explained by the first vice-rector, director of the HSE ISSEK Leonid Gokhberg, the basis of the study was the results of a survey of the heads of 719 universities and leading scientific organizations, which make up almost the entire core of Russian science. These are “the key players who make the weather in this area and determine its development with their daily practices.”

    The assessment was carried out on 87 factors grouped into 8 large blocks, which made it possible to determine the sentiment index in Russian science. In the second step, the researchers identified 47 measures of state scientific and technical policy, assessed their effectiveness on a number of parameters and rated them.

    “The situation in Russian science looks stable and positive, there is progress compared to previous rounds of the study,” Leonid Gokhberg noted. For example, assessments related to the institutional conditions of functioning of universities and scientific organizations have improved – first of all, we are talking about increasing awareness of policy measures and regulation of important aspects of their daily life (regulation of state assignments and state purchases, tender procedures, etc.).

    Representatives of the scientific sphere assess the prospects for the coming years even more optimistically. Expectations are connected with further increase in the efficiency of scientific research, cooperation with business and stimulation of investment inflow from commercial structures, development of the information base of science.

    At the same time, the situation looks different in different sectors. “Universities are feeling the best, and this correlates with the measures of their support that have been launched in recent years and have had a rather positive impact on the development of university science,” Leonid Gokhberg stated.

    Financing

    The director continued the topic Center for Statistics and Monitoring of Science and Innovation ISSEK Ekaterina Streltsova, touching upon “the most sensitive issue” – funding of science.

    This block received the most restrained assessment from the scientific community, but this does not mean that everything is bad. Science is financed from many sources, and the study showed that the situations with different sources differ for different organizations. Key sources of budgetary financing are assessed more restrainedly in general, since they may not be very relevant for non-profit organizations that participated in the survey (for example, grants from Russian scientific foundations).

    “We see a significant improvement in the situation for all types of organizations compared to 2022, as budget expenditures on science are steadily increasing. This year, almost 3% of federal budget funds are planned to be allocated to support science, this is the highest figure in the last ten years, and we hope that funding for science will continue to increase,” Ekaterina Streltsova emphasized.

    Organizations of all types were skeptical about the provision of funding from state companies and especially from business, and, in her opinion, this is a predictable result given the current structure of funding for Russian science. In recent years, the business sector has provided about 30% of the costs of science, and although this figure has increased compared to 2010, measures are needed to stimulate investment.

    Of all the sources of funds, foreign organizations received the lowest ratings. “It was these ratings that influenced the overall score for the entire area and pulled it down, and this is understandable,” says Ekaterina Streltsova. “Foreign resources have never been significant for the development of Russian science; in the last five to six years, the share of these sources in the total volume of expenses has not exceeded 2.5%.”

    Personnel and equipment

    Ekaterina Streltsova noted that the human resources potential received a positive assessment for most factors: the managers are satisfied with both the quantitative and qualitative characteristics of the scientific personnel they work with. Compared to 2022, some values have improved due to the implementation of a whole range of measures. Difficulties are associated with attracting foreign researchers and participation in international projects.

    The assessment of material and technical conditions is also quite stable: organizations are generally optimistic about the availability of scientific equipment and consumables, but many note the complication of supplies from abroad. The availability of access to specialized domestic software and Russian AI-based systems is assessed cautiously, but it is in this area that expectations are high and positive.

    The weak point remains the commercialization of results – their promotion and implementation in the economy. For example, universities and research organizations are actively involved in patent activities, but their contribution to the development of licensing activities in the domestic market is still limited. Obviously, this is due, among other things, to insufficient dialogue between science and business. “Although the situation has improved somewhat compared to 2022, we see that the intensity of interaction with business in the form of joint laboratories, basic departments, and so on is still assessed rather restrainedly, which, of course, requires further implementation, including of the measures already in force,” concluded Ekaterina Streltsova.

    “A most interesting analysis”

    The results of the study “Making Science in Russia” were commented on by representatives of science, higher education and industry.

    Director of the Joint Institute for Nuclear Research, Academician of the Russian Academy of Sciences Grigory Trubnikov noted that HSE scientists conducted “a most interesting analysis.” In his opinion, over three rounds of research, “analytics has taken off,” it has a large audience, and the data can be trusted.

    Commenting on the conclusions about science funding, he put forward the hypothesis that the problem is not that it should be increased, say, twofold, but that “science should be done faster” — this is the main request of the scientific community. If we remove the obstacles associated with control, procurement procedures, academic mobility, and foreign restrictions, then the competitiveness of Russian science will increase.

    Grigory Trubnikov also noted that in terms of international cooperation, everything depends on the specific organization, and things are going well at his institute in Dubna – cooperation with China, Mexico, Brazil is developing, and this is a noticeable trend in general.

    Stanislav Terekhov, head of the laboratory of antibiotic resistance at the Institute of Bioorganic Chemistry of the Russian Academy of Sciences, highly praised the existing measures to support science, including the creation of youth laboratories (his laboratory is one of them). In his opinion, this allows the best personnel to be retained in the country and students and postgraduates to be integrated into laboratory practice, but state support should be supplemented by private initiatives.

    Science and Business

    Director of the Institute of Translational Medicine and Biotechnology at Sechenov University Vadim Tarasov emphasized the links between science and business in his speech. In his opinion, the Priority 2030 program “gave universities a huge opportunity to be flexible in their interactions with industry,” and now it is necessary to set goals for 10-15 years ahead, understanding what technologies the country needs to ensure sovereignty, and which ones are worth entering foreign markets with.

    First Vice President for MTS Technologies, Head of the MTS Basic Department at HSE Pavel Voronin also highly praised the study, calling it very complete and high-quality.

    In his opinion, science is the foundation for technology, and “the geopolitical situation requires us to invest more in this fundamental part,” but the economic situation forces many companies in the market to approach finances prudently. When it is necessary to monitor expenses more closely, the first thing that is cut is unpredictable, long-term investments. “From a business point of view, it is important not to get caught in these scissors, to correctly determine priorities and leave a certain share of investments for long-term research,” concluded Pavel Voronin.

    Head of the scientific and technical cooperation department of the State Corporation Rosatom Ekaterina Chaban stated that in her corporation “every scientific project is also a business project” and confirmed the researchers’ findings on the successful attraction of young people to science. In the scientific division of Rosatom, out of 2 thousand scientists, 38% are under 35 years old, 48% are under 39 years old, and among the directors of institutes there are scientists and designers under 40 years old. “The corporation does a lot to maintain the influx of young people and retain young personnel,” she explained.

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

    MIL OSI Russia News –

  • MIL-OSI: GPTBots.ai Redefines On-Premise AI Excellence with DeepSeek Integration

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, Feb. 07, 2025 (GLOBE NEWSWIRE) — GPTBots.ai, a leading enterprise AI agent platform, is proud to unveil its enhanced on-premise deployment solutions powered by the integration of the highly acclaimed DeepSeek LLM. This integration empowers enterprises to harness the advanced capabilities of DeepSeek while leveraging GPTBots’ robust, enterprise-grade platform, delivering a secure, flexible, and scalable AI solution tailored to diverse business needs.

    As businesses worldwide accelerate their adoption of AI, GPTBots.ai provides a comprehensive platform that combines cutting-edge technology with industry-specific solutions, enabling enterprises to achieve measurable results while maintaining full control over their data and infrastructure.

    Cost-Effective AI Deployment for Businesses of All Sizes

    DeepSeek’s lightweight architecture, including its MoE (Mixture of Experts) design, significantly reduces the hardware and operational costs associated with AI deployment:

    • Optimized Resource Utilization: DeepSeek can operate seamlessly on consumer-grade GPUs (e.g., RTX 4090), eliminating the need for expensive high-end clusters.
    • Energy Efficiency: Enhanced inference optimization reduces energy consumption, making it ideal for businesses prioritizing cost control and sustainability.

    When deployed through GPTBots, enterprises benefit from streamlined workflows, pre-configured tools, and optimized resource allocation, ensuring a lower total cost of ownership while maintaining high performance.

    Transforming On-Premise AI for Industry-Specific Applications

    The integration of DeepSeek into GPTBots’ platform delivers significant value across industries, enabling businesses to address unique challenges and unlock new opportunities:

    • Retail, E-Commerce, and Gaming: GPTBots revolutionizes customer support by automating inquiries, providing 24/7 multilingual assistance, and enhancing user experiences. A global gaming platform using GPTBots reduced response times by 95% and automated 98% of inquiries, freeing resources for creative tasks.
    • Finance: GPTBots streamlines customer service, compliance workflows, and risk analysis, reducing operational costs while improving customer satisfaction and regulatory adherence.
    • Energy: GPTBots supports real-time monitoring and data analysis, helping energy companies optimize resource allocation and equipment management. Businesses can leverage GPTBots for equipment failure prediction, energy consumption analysis, and renewable energy management, thereby improving operational efficiency and reducing costs.
    • Government and Enterprises: GPTBots provides intelligent administrative management and public service support for government and enterprise sectors, enhancing service efficiency and decision-making quality. For example, GPTBots can be used for automated government service consultations, policy interpretation, and the intelligent upgrade of public service platforms, driving digital transformation for government and enterprise organizations.

    Flexible Deployment for Data Control and Security

    GPTBots’ on-premise deployment ensures enterprises maintain full control over their data, aligning with the highest standards of security and operational independence:

    • Data Ownership: All data is stored within the enterprise’s infrastructure, ensuring complete autonomy and privacy.
    • Advanced Security Protocols: GPTBots provides enterprise-grade SLA guarantees, role-based access control, and encryption, safeguarding sensitive information and critical operations.

    This approach is particularly valuable for industries such as finance, healthcare, and legal services, where data privacy and compliance are paramount.

    Empowering Enterprises to Embrace AI with Confidence

    GPTBots’ integration of DeepSeek is more than just a technological advancement—it’s a commitment to empowering businesses to thrive in the AI-driven era. By combining DeepSeek’s advanced capabilities with GPTBots’ enterprise-grade platform, businesses gain access to:

    • Customizable Solutions: Tailor AI deployments to specific business needs with GPTBots’ no-code/low-code platform and robust APIs.
    • Comprehensive Tool Ecosystem: From LinkedIn and HubSpot integrations to advanced image generation tools, GPTBots provides everything enterprises need to automate workflows and enhance productivity.
    • End-to-End Support: From deployment to ongoing optimization, GPTBots offers professional services to ensure long-term success.

    “GPTBots is committed to empowering businesses with the tools they need to innovate and grow,” said Jerry Yin, VP of GPTBots.ai. “By integrating DeepSeek into our on-premise deployment solutions, we’re providing a powerful, secure, and flexible AI platform that drives measurable results across industries.”

    About GPTBots.ai

    GPTBots.ai is an enterprise AI agent platform that empowers businesses to streamline operations, enhance customer experiences, and drive growth. Offering end-to-end AI solutions across customer service, knowledge search, data analysis, and lead generation, GPTBots enables enterprises to harness the full potential of AI with ease. With seamless integration into various systems, and support for scalable, secure deployments, GPTBots is dedicated to reducing costs, accelerating growth, and helping businesses thrive in the AI era.

    For more information, visit www.gptbots.ai.

    Media Contact:
    Silvia
    Senior Marketing Manager
    marketing@gptbots.ai

    The MIL Network –

  • MIL-OSI: Aurora Mobile’s GPTBots.ai Integrates DeepSeek into On-Premise Al Solutions

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, Feb. 07, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, today announced that its leading enterprise AI agent platform, GPTBots.ai, has unveiled its enhanced on-premise deployment solutions powered by the integration of the highly acclaimed DeepSeek LLM. This integration empowers enterprises to harness the advanced capabilities of DeepSeek while leveraging GPTBots’ robust, enterprise-grade platform, delivering a secure, flexible, and scalable AI solution tailored to diverse business needs.

    As businesses worldwide accelerate their adoption of AI, GPTBots.ai provides a comprehensive platform that combines cutting-edge technology with industry-specific solutions, enabling enterprises to achieve measurable results while maintaining full control over their data and infrastructure.

    Cost-Effective AI Deployment for Businesses of All Sizes

    DeepSeek’s lightweight architecture, including its MoE (Mixture of Experts) design, significantly reduces the hardware and operational costs associated with AI deployment:

    • Optimized Resource Utilization: DeepSeek can operate seamlessly on consumer-grade GPUs (e.g., RTX 4090), eliminating the need for expensive high-end clusters.
    • Energy Efficiency: Enhanced inference optimization reduces energy consumption, making it ideal for businesses prioritizing cost control and sustainability.

    When deployed through GPTBots, enterprises benefit from streamlined workflows, pre-configured tools, and optimized resource allocation, ensuring a lower total cost of ownership while maintaining high performance.

    Transforming On-Premise AI for Industry-Specific Applications

    The integration of DeepSeek into GPTBots’ platform delivers significant value across industries, enabling businesses to address unique challenges and unlock new opportunities:

    • Retail, E-Commerce, and Gaming: GPTBots revolutionizes customer support by automating inquiries, providing 24/7 multilingual assistance, and enhancing user experiences. A global gaming platform using GPTBots reduced response times by 95% and automated 98% of inquiries, freeing resources for creative tasks.
    • Finance: GPTBots streamlines customer service, compliance workflows, and risk analysis, reducing operational costs while improving customer satisfaction and regulatory adherence.
    • Energy: GPTBots supports real-time monitoring and data analysis, helping energy companies optimize resource allocation and equipment management. Businesses can leverage GPTBots for equipment failure prediction, energy consumption analysis, and renewable energy management, thereby improving operational efficiency and reducing costs.
    • Government and Enterprises: GPTBots provides intelligent administrative management and public service support for government and enterprise sectors, enhancing service efficiency and decision-making quality. For example, GPTBots can be used for automated government service consultations, policy interpretation, and the intelligent upgrade of public service platforms, driving digital transformation for government and enterprise organizations.

    Flexible Deployment for Data Control and Security

    GPTBots’ on-premise deployment ensures enterprises maintain full control over their data, aligning with the highest standards of security and operational independence:

    • Data Ownership: All data is stored within the enterprise’s infrastructure, ensuring complete autonomy and privacy.
    • Advanced Security Protocols: GPTBots provides enterprise-grade SLA guarantees, role-based access control, and encryption, safeguarding sensitive information and critical operations.

    This approach is particularly valuable for industries such as finance, healthcare, and legal services, where data privacy and compliance are paramount.

    Empowering Enterprises to Embrace AI with Confidence

    GPTBots’ integration of DeepSeek is more than just a technological advancement—it’s a commitment to empowering businesses to thrive in the AI-driven era. By combining DeepSeek’s advanced capabilities with GPTBots’ enterprise-grade platform, businesses gain access to:

    • Customizable Solutions: Tailor AI deployments to specific business needs with GPTBots’ no-code/low-code platform and robust APIs.
    • Comprehensive Tool Ecosystem: From LinkedIn and HubSpot integrations to advanced image generation tools, GPTBots provides everything enterprises need to automate workflows and enhance productivity.
    • End-to-End Support: From deployment to ongoing optimization, GPTBots offers professional services to ensure long-term success.

    “GPTBots is committed to empowering businesses with the tools they need to innovate and grow,” said Jerry Yin, VP of GPTBots.ai. “By integrating DeepSeek into our on-premise deployment solutions, we’re providing a powerful, secure, and flexible AI platform that drives measurable results across industries.”

    About GPTBots.ai

    GPTBots.ai is a complementary general-purpose LLM AI bot featuring private data input and continuous fine-tuning, which can replace ‘rule-based’ chatbots, improve user experience, and reduce costs. GPTBots.ai aims to provide users with an end-to-end business platform that can seamlessly integrate robots into existing applications and workflows via plug-ins. GPTBots.ai also allow users to have great access to, and more efficiently and effectively using, AIGC to improve overall corporate productivity and output quality.

    To know more, please visit https://www.gptbots.ai.

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    For more information, please contact:

    Aurora Mobile Limited

    E-mail: ir@jiguang.cn

    Christensen

    In China

    Ms. Xiaoyan Su

    Phone: +86-10-5900-1548

    E-mail: Xiaoyan.Su@christensencomms.com

    In U.S.

    Ms. Linda Bergkamp

    Phone: +1-480-614-3004

    Email: linda.bergkamp@christensencomms.com

    The MIL Network –

  • MIL-OSI: Progress in customer activity as well as core banking activities continued, and credit quality remained strong Record-high net profit of DKK 23.6 billion, improving return on equity to 13.4%

    Source: GlobeNewswire (MIL-OSI)

    Press release Danske Bank
    Bernstorffsgade 40
    DK-1577 København V
    Tel. + 45 45 14 14 00

    7 February 2025

    Progress in customer activity as well as core banking activities continued,
    and credit quality remained strong
    Record-high net profit of DKK 23.6 billion, improving return on equity to 13.4%
    Dividend of DKK 9.35 per share for the second half of 2024 as well as an extraordinary dividend of DKK 5.35 per share, in total DKK 14.7 per share
    The Board of Directors has decided to initiate a new share buy-back programme of DKK 5 billion

    Danske Bank has announced its financial results for 2024.
    Carsten Egeriis, Chief Executive Officer, comments on the financial results:

    “For Danske Bank, 2024 was a year in which we consistently delivered positive results from quarter to quarter, driven by increased customer activity, continually strong credit quality and a sustained, dedicated effort from the entire organisation. Consequently, we maintained our positive commercial momentum, resulting in a solid financial performance.

    One year into the execution of our Forward ’28 strategy, we have made substantial progress within our technology transformation and customer engagement, and we can see that our investments in enhancing the customer experience have resulted in increasingly positive customer satisfaction scores.

    Our continued focus on cost discipline and on maintaining strong credit quality resulted in two upward adjustments of our financial guidance in 2024. On the basis of our strong financial results and solid capital position, the total distribution in 2024 amounts to 100% of net profit, thus honouring the commitment we have made to our shareholders.

    With our advanced customer offerings, deep expertise and solid financial position, Danske Bank is strongly positioned to create value for customers, shareholders and society. In a time of heightened geopolitical uncertainty, rapid technological shifts and increasing sustainability challenges, we will continue to focus on opportunities and solutions for households and businesses alike.”

    The annual report is available at www.danskebank.com. Highlights are shown below:

    2024 vs 2023
    Total income of DKK 56.4 billion (up 8%)
    Operating expenses of DKK 25.7 billion (up 1%)
    Loan impairments of DKK -543 million (2023: DKK 262 million)
    Net profit of DKK 23.6 billion (up 11%)
    Return on shareholders’ equity of 13.4% (2023: 12.7%)
    Strong capital position, with a CET1 capital ratio of 17.8% (2023: 18.8%). The ratio reflects strong capital generation and the full deduction of the announced 40% additional capital distribution.
    Solid progress towards Forward ’28 ambitions and 2026 targets
    2024 was the first full year of our Forward ’28 strategy, and we are well-positioned for future growth as we maintain our trajectory towards strengthening our position as a leading bank in the Nordic region and make significant investments in our customer offerings.

    For personal and private banking customers, with Forward ’28, a sharpened focus in each of our markets has allowed us to further strengthen our relations with existing customers and attract new ones. For business and institutional customers, we want to be a leading bank in the markets in which we operate. Our approach focuses on meeting evolving market demands while fostering high long-term customer and employee satisfaction.

    Significant progress with our technology transformation paved the way for a better customer experience and improved efficiency. In 2024, we made substantial progress in terms of using digitalisation, data, AI and technology to improve customer engagement while reducing costs and operational risks. We developed a new version of our District online banking platform that is tailored to small businesses and is expected to launch in Denmark in the first half of 2025. We also launched a new welcoming app that makes it both easier and faster to become a personal customer with us.

    Across the bank, we have made GenAI a strategic priority, and our GenAI-powered solutions offer key opportunities to unlock productivity gains. During 2024, we launched DanskeGPT, which has been adopted by almost 16,000 users across the organisation, corresponding to 74% of all employees. We have also deployed GenAI-powered tools for our software developers, and these tools are driving solid productivity improvements.

    In 2024, Danica developed its new commercial strategy, Forward ’28 – Danica, which aims to make Danica the preferred pension company in Denmark by 2028. The strategy, which took effect on 1 January 2025, focuses on the importance of making customer interactions with Danica easy and convenient through digital solutions and on offering comprehensive healthcare offerings, attractive returns and quality advice. These elements are expected to be key growth drivers over the next few years. The strategy aligns with the strategic direction set in Danske Bank’s Forward ’28 strategy, underscoring the significant potential in synchronising services between the bank and the pension business.

    As the success of our strategy relies on solid execution, we have a significant focus on our employees, supported by investments in development activities, leadership and the workplace. Employee satisfaction and engagement scores continued to improve from already high levels and are now above the industry benchmark.

    Sustainability is a key focus area in Forward ’28, and our ambition is to be a leading Nordic bank in terms of supporting the sustainability transition of customers, businesses and the Nordic societies that we are a part of. Our efforts are reinforced by new ESG advisory services, comprehensive staff training, recruitment of specialists and strategic partnerships, all aimed at supporting our customers’ sustainability transition. In line with European regulation, for the 2024 annual report, Danske Bank has prepared a sustainability statement in accordance with the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS).

    Better-than-expected macroeconomic conditions
    Macroeconomic conditions developed more favourably than expected in the markets in which we operate. Especially in Denmark, the inflation and growth outlook improved during the year, and this development is forecast to continue as central banks continue their easing trajectories, leading to lower rates for both households and businesses. Although the growth outlook has improved broadly speaking in the Nordic region, the uncertainty related to Europe’s long-term growth prospects and ability to innovate persists.

    In times of uncertainty for both Danske Bank and our customers, our well-capitalised balance sheet has enabled us to be a strong financial partner for our customers, and we have continued to support them with risk management expertise and expert advice.

    Strong financial performance
    An improved commercial momentum in our business, supported by better-than-expected macroeconomic conditions and strong credit quality have enabled us to strengthen profitability and generate record-high net profit. The return on equity thus increased from 12.7% to 13.4%, highlighting our positive trajectory and progress towards our 2026 targets.

    In 2024, total income grew 8%, driven by a sustained uplift in core banking income. Despite central bank rate cuts and lower deposit margins as well as overall muted credit demand, net interest income showed the expected strong development, with increasing net interest income throughout the year. Net fee income continued the positive traction throughout the year, reflecting our overall strong development and ability to do more business with existing customers and to attract new customers. We saw a higher level of fee income from cash management products, and customer activity generally remained high. Furthermore, we saw an increase in investment fees generated by strategic investments in our private banking offerings as well as a strong development in fees from asset management.

    Net trading income remained stable, and net income from insurance business benefited from stable financial markets, with the health and accident business continuing to be challenged, however.

    Operating expenses developed according to plan and were at the same level as in 2023. The minor year-on-year increase was caused mainly by higher investments in our technology transformation made under our Forward ’28 strategy and staff costs that were impacted by wage inflation. Costs related to financial crime prevention and legacy remediation decreased in line with our plan for a normalisation of costs, and together with prudent cost management, this led to an improvement in the cost/income ratio to 46% from 49%.

    Loan impairment charges amounted to a net reversal of DKK 543 million, reflecting strong credit quality and modest impairments against single-name exposures coupled with a review of post-model adjustments. We continue to apply significant post-model adjustments as well as a scenario-based macroeconomic model to cater for potential tail risks that are not evident in our portfolio. Overall, the macroeconomic environment improved during 2024 and was characterised by lower inflation, lower interest rates and an enhanced growth momentum.

    Overall, we ended the year with the same positive momentum that we saw in the first nine months of 2024. This resulted in record-high net profit of DKK 23.6 billion, up 11% from 2023.

    “The first year of execution of our Forward ’28 strategy, 2024 was an important year for Danske Bank’s financial performance: With income growth driven by our growing core income as well as our continued efforts to support customers and drive the commercial momentum, net profit represents a record-high result,” says Stephan Engels, Chief Financial Officer.
    We continue to create value to the benefit of our customers, our shareholders and society: Our tax expense amounted to DKK 7.6 billion, and given our strong capital position, and in line with the Forward ’28 strategy, the financial year 2024 enables us to make a significant payout to our shareholders.

    Delivering on capital distribution
    Given our strong balance sheet, and as planned in the Forward ’28 strategy, the financial year 2024 yields a significant payout to our shareholders. We paid a dividend of DKK 7.50 per share in connection with the interim report for the first half of 2024, and we propose a dividend of DKK 9.35 per share for the second half of 2024 as well as an extraordinary dividend of DKK 5.35 per share. Furthermore, on 6 December 2024, we announced a special dividend of DKK 6.50 per share following the successful transfer of the personal customer business in Norway. In total, our distribution for 2024 amounts to DKK 28.70 per share.

    It remains crucial for us to create value for all our stakeholders, including our shareholders, customers, employees and the societies we are part of, and as a bank we need to attract capital from shareholders to lend and do business. Besides large institutional investors, our capital distribution benefits most major pension funds in Denmark as well as private individuals in Denmark, who have invested part of their savings in Danske Bank shares. In total, we have more than a quarter of a million investors, of which more than half are private individuals in Denmark.

    Danske Bank’s dividend policy for 2025 remains unchanged, targeting a dividend payout of 40-60% of net profit in the form of annual dividend payments.

    Share buy-back
    The share buy-back programme launched in February 2024 of DKK 5.5 billion was completed in January 2025.

    On the basis of the financial results for 2024, the Board of Directors has decided to initiate a new share buy-back programme of DKK 5 billion, taking the total payout ratio to 100% of net profits when including the dividend for 2024 but excluding the special dividend related to the transfer of the personal customer business in Norway. The programme, which has been approved by the Danish Financial Supervisory Authority, will start on 10 February 2025.

    Outlook for 2025
    We expect net profit for 2025 to be in the range of DKK 21-23 billion.
    The outlook is subject to uncertainty and depends on economic conditions.

    Danske Bank

    Contact: Helga Heyn, Head of Media Relations, tel. +45 45 14 14 00

    More information about Danske Bank’s financial results is available at www.danskebank.com/reports.

    Attachments

    The MIL Network –

  • MIL-OSI Russia: Rosneft Celebrates Russian Science Day with New Achievements

    Translartion. Region: Russians Fedetion –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    In 2024, Rosneft received more than 70 patents for innovative inventions. Thus, today the portfolio of the technological leader in the oil and gas industry includes more than 1,100 objects of intellectual activity that have undergone state registration.

    Rosneft is the first oil company in the country that successfully creates software that covers all key processes of oil and gas production. Last year, specialists from the Ufa Scientific Institute presented an updated simulator RN-SIMTEP, the economic effect of which will exceed 1 billion rubles by 2030. The software package is designed to simulate the processes of preparation, transportation and primary processing of hydrocarbon raw materials.

    The Company’s specialists have also developed the RN-AKZT expert system, which allows selecting steel for pipe products and methods of their anti-corrosion protection depending on operating conditions. The innovative product includes an artificial intelligence model that is trained on real data and is capable of predicting the intensity of metal corrosion. The software operates autonomously and does not depend on external sources of information. Its use in production processes will significantly increase the reliability of pipelines.

    Another new software is a mobile application for mine surveyors, developed by Tomsk scientists of Rosneft. The service allows for prompt access to field maps in the field, updating information on existing infrastructure, and adding new objects to the map.

    Rosneft is betting on digitalization in all areas of activity. The emphasis on the implementation of digital technologies increases transparency, controllability and speed of decision-making throughout the production chain.

    In 2024, at the Barsukovskoye field of RN-Purneftegaz (part of Rosneft), the Company’s scientists created a “digital twin” of a preliminary gas treatment unit. This is one of the largest interactive objects designed in Russia – its area is 270 thousand square meters, which is comparable to the size of a populated area.

    Rosneft is one of the leaders in the development of 3D design. Hundreds of objects have been designed in the Company using information modeling technologies. Last year, the Ufa scientific institute presented an updated unified catalog of 3D products, the digital database of which currently contains 277 thousand three-dimensional products: from complex equipment to the simplest parts. Rosneft design institutes use the catalog when developing structures, plant sites, pipelines and other industrial facilities. Ready-made solutions significantly reduce time and increase design efficiency. The institute’s specialists regularly update the catalog taking into account changes in industry documents.

    In 2024, the Company updated its fleet of diagnostic robotic complexes. Specialists from the Volgograd Scientific Institute created two new devices for diagnosing petrochemical facilities, such as high-temperature furnaces and propane dehydrogenation reactors. The robots transmit measurement results in real time and generate a report on the study conducted. Due to the reduction in the time of shutdown repairs, the economic effect at the plant with robotic diagnostics reaches 280 million rubles per year.

    Also, as part of the consistent robotization of production processes, Rosneft has equipped all echelon-type drilling rigs at the Verkhnechonskoye and Severo-Danilovskoye oil and gas condensate fields with robotic equipment for connecting drill pipes. The economic effect of using the new domestically produced development is 1.5 million rubles for each well.

    In 2024, the Tomsk Scientific Institute opened a new, second core storage facility, which will increase the total volume of core stored in the Company’s institutes by 25%, providing the corporate research and design unit with reserve space for at least 10 years.

    In addition, the institute’s specialists have put into operation an innovative mesotomograph – a device for studying a full-size core using X-ray tomography. Improved characteristics will help to select tools for searching and developing new deposits and increasing production at the Company’s existing assets more quickly and efficiently.

    Rosneft is actively developing technologies for developing complex reserves. At the Priobskoye field of the key production asset RN-Yuganskneftegaz, specialists from the scientific block have successfully implemented their own data processing technology, which determines oil-saturated zones for drilling with high accuracy. The innovation will allow for an additional extraction of more than 100 million tons of oil at the field.

    Rosneft is one of the largest petrochemical producers in Russia. In 2024, experts from a scientific institute in Novokuibyshevsk developed and patented a modified bitumen that can withstand increased transport loads. The new product is used in road surfaces and has an increased operating temperature range from plus 40°C to minus 50°C. The new bitumen can also withstand increased transport loads.

    The Company’s innovative development program is aimed at replacing imported technologies in the production of high-quality petroleum products. One of the main objectives of the program is the transition of Rosneft’s oil refineries to the use of highly efficient catalysts of their own production, which allows avoiding the risks of dependence on supplies of foreign products.

    Rosneft has been implementing a large-scale program for the comprehensive study and environmental monitoring of the Arctic since 2012. Together with the country’s leading specialized institutes, the Company’s scientific unit organizes hydrometeorological, geological, and biological research that is unprecedented in its geographical coverage.

    In 2024, the Company conducted its 50th anniversary research expedition to clarify the ice conditions of the Yenisei Gulf. During the work, a wide range of regular studies was carried out, covering all stages of ice cover development and destruction. The data obtained will form the basis for planning and organizing a system for safe and efficient transportation of hydrocarbons in the waters of Sever Bay and the northern part of the Yenisei Gulf.

    Also last year, Rosneft summed up the results of the first field season of the corporate biodiversity conservation program Tamura, the purpose of which is to obtain information on the state of key animal species in the Arctic region. The data obtained on the population of polar bears, wild reindeer and rare bird species will allow scientists to draw conclusions about the state of ecosystems and develop measures to preserve biodiversity.

    To update the geological model and resource potential of the Company in the East Siberian Sea, two shallow wells were drilled, from which 204 m of core were collected.

    Rosneft has unique capabilities both in developing its own technologies and in implementing them. By increasing the technological efficiency of production and actively improving its own intellectual competencies, the Company sees its goal as the development of Russian technological sovereignty across all production chains.

    Department of Information and Advertising of PJSC NK Rosneft February 7, 2025

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

    MIL OSI Russia News –

  • MIL-OSI: Ress Life Investments A/S publishes financial calendar

    Source: GlobeNewswire (MIL-OSI)

    Ress Life Investments A/S
    Nybrogade 12
    DK-1203 Copenhagen K
    Denmark
    CVR nr. 33593163
    www.resslifeinvestments.com
    To: Nasdaq Copenhagen
    Date: 7 February 2025

    Corporate Announcement 05/2025

    Ress Life Investments A/S publishes financial calendar

    The current financial year runs from 1 January to 31 December.

    Financial Calendar

    19th March 2025 Annual Report ending 31 December 2024

    16th April 2025 Annual General Meeting 

    9th September 2025 Interim financial statement for the period from 1 January 2025 through 30 June 2025

    Questions related to this announcement can be made to the company’s AIF-manager, Resscapital AB.

    Contact person:
    Gustaf Hagerud
    gustaf.hagerud@resscapital.com
    Tel + 46 8 545 282 27

    Attachment

    The MIL Network –

  • MIL-OSI China: The Spring Festival: A global gateway to understanding China

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

    BEIJING, Feb. 7 — As the world ushers in the Year of the Snake on the Chinese lunar calendar, the Spring Festival has expanded beyond its traditional roots to become a global phenomenon, offering a window through which people around the world can learn about China’s cultural ethos and contemporary dynamism.

    To mark the Chinese New Year, the London Eye was lit up in auspicious red, while Dubai’s Burj Khalifa dazzled with festive projections. Global iconic landmarks joined China in celebrating a millennia-old tradition. Additionally, the festival’s global imprint extends beyond the lights: dragon dances, temple fairs and other activities were held across the world.

    This year’s Spring Festival is the first since its inscription on the UNESCO intangible cultural heritage list. The Chinese New Year is becoming a festival celebrated across the world. As nearly 20 nations recognize the Spring Festival as an official holiday and some 200 countries hold celebrations, this cultural event reflects humanity’s shared yearning for renewal and connection.

    China’s expanded visa-free travel policies have amplified this cultural exchange, enabling more international travelers to visit China and immerse themselves in the festival’s rich customs.

    Foreign visitors have experienced not just festive fireworks, but the profound values embedded in the tradition: familial bonds that transcend borders, the harmony between humanity and nature, and an emphasis on social cohesion. These values resonate across cultures, dismantle stereotypes and nurture mutual cultural appreciation.

    “The Spring Festival Gala,” an annual TV program broadcast live and watched by billions worldwide, epitomizes China’s cultural appeal. The 2025 gala featured the performances of U.S. band OneRepublic and Peruvian artists, demonstrating artistic dialogue between East and West.

    The televised extravaganza also offers a glimpse of the integration of tradition and modernity as well as technological progress in the country. AI-powered robots performed a synchronized dance in embroidered jackets during the show, showcasing China’s fusion of heritage and cutting-edge technology, and the openness, inclusiveness and innovation of Chinese culture.

    Beyond culture, this year’s Spring Festival illuminated China’s economic resilience amid global economic headwinds.

    The eight-day holiday saw year-on-year increases in tourist numbers and expenditure, as well as record box office revenue. Boosted by trade-in programs and other policies, the sales of home appliances and communication equipment at key retailers jumped during the festival, reflecting the vibrancy of China’s consumption market.

    In Chinese culture, the snake symbolizes agility, wisdom and vitality. As the world is fraught with growing uncertainties and regional frictions, the Spring Festival, an age-old tradition that perpetually rejuvenates itself, serves as a unique portal to a dynamically evolving China.

    Moreover, the values enshrined within the Spring Festival not only act as a guiding light for individuals, but also hold the potential to foster deeper mutual understanding among different cultures and promote world peace and prosperity.

    MIL OSI China News –

  • MIL-OSI China: Xi Jinping’s vision drives China’s winter sports boom

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

    BEIJING, Feb. 6 — As winter settles across China, excitement for winter sports is in full swing, with skiers carving down slopes and ice skaters gliding across rinks from north to south. Enthusiasm is especially high as the 9th Asian Winter Games opens Friday in Harbin, marking another milestone for China’s winter sports development.

    At the heart of this movement is Chinese President Xi Jinping, whose lifelong passion for sports has fueled the rapid expansion of winter activities nationwide.

    The foundation for this boom was laid more than a decade ago when Xi, attending the Sochi Winter Olympics, met with International Olympic Committee (IOC) President Thomas Bach. During their meeting, Xi set an ambitious goal: to engage 300 million people in winter sports. That vision has since become a reality.

    By April 2024, following the Beijing 2022 Winter Olympics, around 313 million people – over 22% of China’s population – had actively participated in ice and snow activities.

    FROM CHILDHOOD PASSION TO NATIONAL LEGACY

    Xi’s love for winter sports dates back to his childhood. In the 1950s and 1960s, skating on Beijing’s Shichahai Lake was a popular winter pastime. Young Xi often rushed home from school to skate on the frozen lake.

    That early connection to winter sports evolved into a national mission. Historically, winter sports in China were largely confined to the colder northern regions and were practiced in harsh conditions. Xi sought to change that.

    From the successful bid for the 2022 Beijing Winter Olympics to the Games’ execution, Xi played a leading role. Between 2015 and 2022, he visited Olympic venues in Beijing and Zhangjiakou five times, overseeing venue construction, management, and volunteer operations. During a 2021 inspection visit, he emphasized using the Winter Olympics as a catalyst to elevate the nation’s ice and snow sports culture.

    Beijing’s hosting of the Winter Games proved transformative. Today, seniors and children alike are skating and skiing in places where snow was once rare. Increased investment in facilities has made winter sports more accessible and affordable.

    By the end of 2023, the number of winter sports venues in China had reached 2,847, a 16.1% year-over-year increase, with new facilities even emerging in southern regions.

    Xi’s vision for China’s winter sports development has reshaped the landscape. From his childhood struggles to afford skates to today’s youth training in state-of-the-art facilities, the progress is evident.

    “You now have excellent training facilities and a wonderful environment to strengthen your bodies and foster teamwork and bravery,” Xi told young ice hockey players in 2017. “The future of China’s ice and snow sports depends on your generation.”

    RISE OF ICE AND SNOW ECONOMY

    The 9th Asian Winter Games, running from February 7 to 14 in Harbin, highlights China’s growing influence in global winter sports.

    Xi has described the ice and snow industry as a “mountain of gold and silver,” emphasizing the need to leverage natural winter resources. His vision includes a comprehensive winter sports economy encompassing equipment manufacturing, tourism, and cultural industries.

    China’s ice and snow economy is projected to exceed 1 trillion yuan (about 138 billion U.S. dollars) in 2025, with estimates reaching 1.2 trillion yuan by 2027 and 1.5 trillion yuan by 2030.

    Last winter, China recorded more than 385 million winter leisure visits, a 38% year-over-year increase, with related revenue rising 50%.

    Harbin, one of China’s top winter tourism destinations, welcomed 87 million visitors – up 300% year-over-year – generating 124.8 billion yuan in tourism revenue, a 500% increase.

    China’s winter sports equipment industry is also expanding, bolstered by advancements in 5G, artificial intelligence, and virtual reality. The country now produces a full range of 15 ice and snow equipment categories, with innovations such as smart ski insoles, heated snow boots, and VR skiing simulators.

    In 2023, Xi visited a village in Mohe, China’s northernmost city, and emphasized the importance of utilizing snow and ice resources for economic growth. Today, the village has become a top destination for southern tourists, reflecting a broader trend across the country.

    Chongli, Hebei province, is a prime example of this transformation. Once a poverty-stricken area, it has become a world-renowned ski resort, with one in four locals now employed in winter sports-related jobs.

    “The ultimate goal of building a sporting powerhouse and a healthy China is to strengthen people’s fitness,” Xi said. “This is also an essential part of China’s effort to build a modern socialist country in all respects.”

    STRONGER GLOBAL TIES THROUGH WINTER SPORTS

    Xi’s leadership in winter sports has not only transformed China’s ice and snow culture but has also fostered international cooperation. Through strategic policies and personal commitment, he has positioned sports as a bridge for global friendship and mutual understanding.

    In August 2023, Xi wrote to the U.S.-China Youth and Student Exchange Association and friendly personages in the U.S. state of Washington, stating, “Sport is a bond that promotes friendship among peoples.” This principle has guided China’s efforts to use winter sports as a tool for diplomacy.

    During a 2017 visit to Finland, Xi and then-Finnish President Sauli Niinisto met with Chinese and Finnish winter athletes, highlighting the role of sports in strengthening bilateral relations. Similarly, in 2018, Xi and Russian President Vladimir Putin watched a youth ice hockey match in Tianjin, reinforcing China-Russia ties.

    Beyond individual partnerships, China has collaborated with multiple Asian nations to promote winter sports by sharing expertise, resources, and experiences. The upcoming Asian Winter Games exemplifies this spirit of unity and cooperation, with Cambodia and Saudi Arabia making their debut at the Games.

    At the 2022 Beijing Winter Olympics, Xi underscored how the Games fostered global unity during challenging times. “It has also brought confidence and hope to a world overshadowed by instability,” he said, reinforcing the Games’ motto: “Together for a Shared Future.”

    Xi’s contributions have long been recognized by the international sports community. IOC Vice President Juan Antonio Samaranch Jr. praised his leadership, saying, “It’s great to have such an important partner for sports and international Olympic matters.”

    Bach also commended Xi as a “true champion” with a clear vision for the role of sports in society.

    MIL OSI China News –

  • MIL-OSI China: Xi’s special representative to attend AI summit in France

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

    BEIJING, Feb. 7 — Chinese President Xi Jinping’s special representative Zhang Guoqing will travel to France from Feb. 9 to 12 for the Artificial Intelligence Action Summit at the invitation of the host, the Chinese foreign ministry announced on Friday.

    Zhang is a member of the Political Bureau of the Communist Party of China Central Committee and a vice premier of the State Council.

    MIL OSI China News –

  • MIL-OSI United Kingdom: Using AI to digitally twin a climate change frontier The University of Aberdeen has been awarded funding by the European Space Agency (ESA) to create a digital twin of the Arctic islands at the forefront of climate change.

    Source: University of Aberdeen

    The University of Aberdeen has been awarded funding by the European Space Agency (ESA) to create a digital twin of the Arctic islands at the forefront of climate change.
    Aberdeen will lead the development of a real-time digital replica for the Norwegian archipelago Svalbard (SvalbardDT; www.svalbarddt.org), which is said to be warming six times faster than the global average.
    Lying within the Arctic Circle, Svalbard is one of the areas where the visible consequences of climate change can be seen most clearly. The drastic decline in its ice areas over recent years has serious implications for wildlife, diminishing the natural hunting grounds of polar bears and increasing competition for resources affecting other Arctic species such as walruses, seals, and seabirds.
    Svalbard lies at the boundary between the warm Atlantic and the cold Polar region, therefore even a small change in temperature can have a dramatic impact.
    The warming seen in recent years has shifted this boundary and now Svalbard is responding much faster anticipated to climate change but understanding this requires greater understanding of the interconnections between different environments such as glaciers, sea ice, snow and weather that cannot be done with current tools.
    The creation of a digital twin – designed to behave as closely as possible to its real-world counterpart – will enable these changes to be monitored in real time and forms part of ESAs ambitious goal to create a digital twin of the Earth, called Destination Earth (https://destination-earth.eu/).
    Aberdeen researchers, working in collaboration with Swansea University, Svalbard Integrated Arctic Earth Observing System (SIOS), Norwegian Research Centre (NORCE), EarthWave, University of Edinburgh, and Uppsala University will develop real-time models of Svalbard’s ice and snow in order to generate more up-to-date information on their state.

    Having a digital twin will enable us to see what is happening in real time, from anywhere in the world” Dr William Harcourt

    Glaciologist Dr William Harcourt from the University of Aberdeen will lead the project. He said:
    “Svalbard is really important in our understanding of climate change impacts on the fragile Arctic it is a location where we have seen accelerated warming.
    “The creation of its digital twin is a major step forward in understanding the changes – and importantly the speed of change – happening there.
    “Having a digital twin will enable us to see what is happening in real time, from anywhere in the world.
    “Unlike isolated field campaigns that reflect data at one point in time and rely on new funding and logistical support to collect, we will use satellite data and develop real-time models of Svalbard’s snow and ice. The project will develop an end-to-end workflow to ingest data from satellites into Artificial Intelligence (AI) models and produce real-time data cubes describing Svalbard’s cryosphere.”
    The project team develop tools for decision-making processes and to understand the impact of extreme weather events on Svalbard’s ice and snow. These will be developed in direct consultation with local stakeholders in Svalbard to ensure the new tool will provide tangible impacts to communities.
    European space Agency funding of 400,000 Euros (£310,000) has been allocated to the Svalbard project.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Rosneft scientists introduce schoolchildren to the profession of geologist

    Translartion. Region: Russians Fedetion –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    On the eve of Russian Science Day, the Ufa scientific institute of Rosneft held a scientific and educational lecture for schoolchildren of the all-Russian “Movement of the First”. As part of the “Visiting a Scientist” project, students of grades 7-9 learned about the profession of a modern geologist.

    Schoolchildren learned about geological discoveries that influenced scientists’ ideas about the development of the Earth over billions of years. Today, this information helps answer the question of where it is best to look for oil. Rosneft searches for and explores hydrocarbon raw materials on land and water, and conducts scientific research in the Arctic and the World Ocean. Modern digital products developed by specialists at the research institute help with this. Millions of gigabytes of data are analyzed using artificial intelligence, and 3D models are built to make decisions, allowing for the prediction of events at a depth of several kilometers.

    Using high-precision microscopes, young researchers were able to study rock samples. Schoolchildren were also shown unique specimens of fossils, minerals, ancient microorganisms, shells and other geological finds dating back hundreds of millions of years.

    The company actively involves young people in science, helps them choose promising specialties for their future education and career. Schoolchildren were told about 13 corporate departments of Rosneft in leading universities of Bashkortostan – Ufa University of Science and Technology and Ufa State Petroleum Technological University. The best students, while still studying at the university, have the opportunity to find employment at Rosneft enterprises and participate in real production projects side by side with professionals.

    The event ended with a quiz, during which the most attentive listeners received gifts. On the same day, more than 100 Ufa residents had the opportunity to listen to a lecture on science and the Earth. The Institute organized a meeting with geologists for everyone at the site of the city coworking space “People”.

    Department of Information and Advertising of PJSC NK Rosneft February 6, 2025

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

    MIL OSI Russia News –

  • MIL-OSI: Municipality Finance issues GBP 14,6 million notes under its MTN programme

    Source: GlobeNewswire (MIL-OSI)

    Municipality Finance Plc
    Stock exchange release
    7 February 2025 at 10:00 am (EET)

    Municipality Finance issues GBP 14,6 million notes under its MTN programme

    Municipality Finance Plc issues GBP 14,6 million notes on 10 February 2025. The maturity date of the notes is 10 February 2026. The notes bear interest at a fixed rate of 4.30% per annum.

    The notes are issued under MuniFin’s EUR 50 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and the final terms of the notes are available in English on the company’s website at https://www.kuntarahoitus.fi/en/for-investors.

    MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 10 February 2025.

    Morgan Stanley & Co. International plc acts as the dealer for the issue of the notes.

    MUNICIPALITY FINANCE PLC

    Further information:

    Joakim Holmström
    Executive Vice President, Capital Markets and Sustainability
    tel. +358 50 444 3638

    MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.
    The Group’s balance sheet totals over EUR 50 billion.

    MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, corporate entities under their control, and non-profit organisations nominated by the Housing Finance and Development Centre of Finland (ARA). Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

    MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

    Read more: https://www.kuntarahoitus.fi/en/

    Important Information

    The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

    This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

    The MIL Network –

  • MIL-OSI: Aki Rahunen appointed Innofactor’s CFO

    Source: GlobeNewswire (MIL-OSI)

    Innofactor Plc Stock Exchange Release – Changes in Board/Management/Auditing February 7, 2025, at 9:30 Finnish time

    Innofactor’s Board of Directors has appointed Aki Rahunen as the CFO for Innofactor Group, and he will assume the position no later than May 8, 2025. Rahunen is currently serving as the CFO of Avidly. Previously, Rahunen has held the position of CFO at Fluido, among others. M.Sc. (Econ.) Rahunen will become a member of Innofactor’s Executive Board in his role as the CFO and will report to the Group’s CEO Sami Ensio.

    “I am excited about my new role at Innofactor. It is great to join this journey. I believe that with my broad experience, I can support Innofactor’s business and help Innofactor continue on the path of profitable growth,” says Aki Rahunen.

    “I am very pleased that we have Aki joining our team. He has exactly the right kind of practical expertise for Innofactor’s new strategic phase. I am convinced that in his role as CFO, Aki will further develop Innofactor’s financial management and support our business leadership in achieving our business goals,” says CEO Sami Ensio.

    Espoo, February 7, 2025

    INNOFACTOR PLC

    Sami Ensio, CEO

    Additional information:
    Sami Ensio, CEO
    Innofactor Plc
    Tel. +358 50 584 2029
    sami.ensio@innofactor.com

    Distribution:
    NASDAQ Helsinki
    Main media
    www.innofactor.com

    Innofactor
    Innofactor is the leading driver of the modern digital organization in the Nordic Countries for its about 1,000 customers in commercial and public sector. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor has about 600 enthusiastic and motivated top specialists in Finland, Sweden, Denmark and Norway. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ Helsinki Oy. www.innofactor.com  #AIDriven #PeopleFirst #CreatingSmiles #BeTheRealYou

    The MIL Network –

  • MIL-OSI: Falcon Oil & Gas Ltd. – Completion of Shenandoah SS-2H ST1 stimulation

    Source: GlobeNewswire (MIL-OSI)

    Falcon Oil & Gas Ltd.

    Completion of Shenandoah SS-2H ST1 stimulation

    07 February 2025 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce the completion the Shenandoah S2-2H ST1 (“SS-2H ST1”) stimulation in the Beetaloo Sub-basin, Northern Territory, Australia with Falcon Oil & Gas Australia Limited’s joint venture partner, Tamboran (B2) Pty Limited.

    Key Highlights

    • Successfully completed 35 stages across the 1,671-metre (5,483-feet) horizontal section of the Amungee Member B-shale with the Liberty Energy (NYSE: LBRT) modern stimulation equipment.
    • Stimulation activities achieved five stages over a 24-hour period on multiple days.
    • The average proppant intensity was 2,706 pounds per foot (lb/ft) and achieved wellhead injection rates above 100 barrels per minute.
    • The average stage spacing is 48-metres (~157-feet).
    • The SS-2H ST1 well will be completed ahead of clean out activities and the commencement of initial flow back and extended production testing.
    • Further updates on the completion of the Shenandoah South 4H (SS-4H) well will be provided in due course.

    Philip O’Quigley, CEO of Falcon commented:

    “We are extremely encouraged about the potential of the current stimulation program based on strong gas shows and other data observed whilst drilling. In addition, the experienced US operator, Liberty Energy, have shown the efficiencies they can achieve which will provide us with the greatest opportunity for the best possible outcomes from this stimulation program. We look forward to updating the market on the IP30 flow test results as soon as they become available.”
                                                    Ends.

    CONTACT DETAILS:

    Falcon Oil & Gas Ltd.          +353 1 676 8702
    Philip O’Quigley, CEO +353 87 814 7042
    Anne Flynn, CFO +353 1 676 9162
     
    Cavendish Capital Markets Limited (NOMAD & Broker)
    Neil McDonald / Adam Rae +44 131 220 9771

    This announcement has been reviewed by Dr. Gábor Bada, Falcon Oil & Gas Ltd’s Technical Advisor. Dr. Bada obtained his geology degree at the Eötvös L. University in Budapest, Hungary and his PhD at the Vrije Universiteit Amsterdam, the Netherlands. He is a member of AAPG.

    About Falcon Oil & Gas Ltd.

    Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland.

    Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd.

    For further information on Falcon Oil & Gas Ltd. Please visit www.falconoilandgas.com

    About Beetaloo Joint Venture (EP 76, 98 and 117)

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 22.5%
    Tamboran (B2) Pty Limited 77.5%
    Total 100.0%

    Shenandoah South Pilot Project -2 Drilling Space Units – 46,080 acres1

    Company Interest
    Falcon Oil & Gas Australia Limited (Falcon Australia) 5.0%
    Tamboran (B2) Pty Limited 95.0%
    Total 100.0%

    1Subject to the completion of the SS2H ST1 and SS4H wells on the Shenandoah South pad 2.

    About Tamboran (B2) Pty Limited
    Tamboran (B1) Pty Limited (“Tamboran B1”) is the 100% holder of Tamboran (B2) Pty Limited, with Tamboran B1 being a 50:50 joint venture between Tamboran Resources Corporation and Daly Waters Energy, LP.

    Tamboran Resources Corporation, is a natural gas company listed on the NYSE (TBN) and ASX (TBN). Tamboran is focused on playing a constructive role in the global energy transition towards a lower carbon future, by developing the significant low CO2 gas resource within the Beetaloo Basin through cutting-edge drilling and completion design technology as well as management’s experience in successfully commercialising unconventional shale in North America.

    Bryan Sheffield of Daly Waters Energy, LP is a highly successful investor and has made significant returns in the US unconventional energy sector in the past. He was Founder of Parsley Energy Inc. (“PE”), an independent unconventional oil and gas producer in the Permian Basin, Texas and previously served as its Chairman and CEO. PE was acquired for over US$7 billion by Pioneer Natural Resources Company.

    Advisory regarding forward-looking statements
    Certain information in this press release may constitute forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking information. Forward-looking information typically contains statements with words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “dependent”, “consider” “potential”, “scheduled”, “forecast”, “outlook”, “budget”, “hope”, “suggest”, “support” “planned”, “approximately”, “potential” or the negative of those terms or similar words suggesting future outcomes. In particular, forward-looking information in this press release includes, details on the completion of the stimulation of SS-2H ST1; Liberty Energy conducting the stimulation campaign; and commencement of initial flow back and extended production testing and updates on SS-4H.

    This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. The risks, assumptions and other factors that could influence actual results include risks associated with fluctuations in market prices for shale gas; risks related to the exploration, development and production of shale gas reserves; general economic, market and business conditions; substantial capital requirements; uncertainties inherent in estimating quantities of reserves and resources; extent of, and cost of compliance with, government laws and regulations and the effect of changes in such laws and regulations; the need to obtain regulatory approvals before development commences; environmental risks and hazards and the cost of compliance with environmental regulations; aboriginal claims; inherent risks and hazards with operations such as mechanical or pipe failure, cratering and other dangerous conditions; potential cost overruns, drilling wells is speculative, often involving significant costs that may be more than estimated and may not result in any discoveries; variations in foreign exchange rates; competition for capital, equipment, new leases, pipeline capacity and skilled personnel; the failure of the holder of licenses, leases and permits to meet requirements of such; changes in royalty regimes; failure to accurately estimate abandonment and reclamation costs; inaccurate estimates and assumptions by management and their joint venture partners; effectiveness of internal controls; the potential lack of available drilling equipment; failure to obtain or keep key personnel; title deficiencies; geo-political risks; and risk of litigation.

    Readers are cautioned that the foregoing list of important factors is not exhaustive and that these factors and risks are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at www.sedarplus.com, including under “Risk Factors” in the Annual Information Form.

    Any references in this news release to initial production rates are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter and are not necessarily indicative of long-term performance or ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for Falcon. Such rates are based on field estimates and may be based on limited data available at this time.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    The MIL Network –

  • MIL-OSI: Progress in customer activity as well as core banking activities continued, and credit quality remained strong – Record-high net profit of DKK 23.6 billion, improving return on equity to 13.4%

    Source: GlobeNewswire (MIL-OSI)

    Press release Danske Bank
    Bernstorffsgade 40
    DK-1577 København V
    Tel. + 45 45 14 14 00

    7 February 2025

    Progress in customer activity as well as core banking activities continued,
    and credit quality remained strong
    Record-high net profit of DKK 23.6 billion, improving return on equity to 13.4%
    Dividend of DKK 9.35 per share for the second half of 2024 as well as an extraordinary dividend of DKK 5.35 per share, in total DKK 14.7 per share
    The Board of Directors has decided to initiate a new share buy-back programme of DKK 5 billion

    Danske Bank has announced its financial results for 2024.
    Carsten Egeriis, Chief Executive Officer, comments on the financial results:

    “For Danske Bank, 2024 was a year in which we consistently delivered positive results from quarter to quarter, driven by increased customer activity, continually strong credit quality and a sustained, dedicated effort from the entire organisation. Consequently, we maintained our positive commercial momentum, resulting in a solid financial performance.

    One year into the execution of our Forward ’28 strategy, we have made substantial progress within our technology transformation and customer engagement, and we can see that our investments in enhancing the customer experience have resulted in increasingly positive customer satisfaction scores.

    Our continued focus on cost discipline and on maintaining strong credit quality resulted in two upward adjustments of our financial guidance in 2024. On the basis of our strong financial results and solid capital position, the total distribution in 2024 amounts to 100% of net profit, thus honouring the commitment we have made to our shareholders.

    With our advanced customer offerings, deep expertise and solid financial position, Danske Bank is strongly positioned to create value for customers, shareholders and society. In a time of heightened geopolitical uncertainty, rapid technological shifts and increasing sustainability challenges, we will continue to focus on opportunities and solutions for households and businesses alike.”

    The annual report is available at www.danskebank.com. Highlights are shown below:

    2024 vs 2023
    Total income of DKK 56.4 billion (up 8%)
    Operating expenses of DKK 25.7 billion (up 1%)
    Loan impairments of DKK -543 million (2023: DKK 262 million)
    Net profit of DKK 23.6 billion (up 11%)
    Return on shareholders’ equity of 13.4% (2023: 12.7%)
    Strong capital position, with a CET1 capital ratio of 17.8% (2023: 18.8%). The ratio reflects strong capital generation and the full deduction of the announced 40% additional capital distribution.
    Solid progress towards Forward ’28 ambitions and 2026 targets
    2024 was the first full year of our Forward ’28 strategy, and we are well-positioned for future growth as we maintain our trajectory towards strengthening our position as a leading bank in the Nordic region and make significant investments in our customer offerings.

    For personal and private banking customers, with Forward ’28, a sharpened focus in each of our markets has allowed us to further strengthen our relations with existing customers and attract new ones. For business and institutional customers, we want to be a leading bank in the markets in which we operate. Our approach focuses on meeting evolving market demands while fostering high long-term customer and employee satisfaction.

    Significant progress with our technology transformation paved the way for a better customer experience and improved efficiency. In 2024, we made substantial progress in terms of using digitalisation, data, AI and technology to improve customer engagement while reducing costs and operational risks. We developed a new version of our District online banking platform that is tailored to small businesses and is expected to launch in Denmark in the first half of 2025. We also launched a new welcoming app that makes it both easier and faster to become a personal customer with us.

    Across the bank, we have made GenAI a strategic priority, and our GenAI-powered solutions offer key opportunities to unlock productivity gains. During 2024, we launched DanskeGPT, which has been adopted by almost 16,000 users across the organisation, corresponding to 74% of all employees. We have also deployed GenAI-powered tools for our software developers, and these tools are driving solid productivity improvements.

    In 2024, Danica developed its new commercial strategy, Forward ’28 – Danica, which aims to make Danica the preferred pension company in Denmark by 2028. The strategy, which took effect on 1 January 2025, focuses on the importance of making customer interactions with Danica easy and convenient through digital solutions and on offering comprehensive healthcare offerings, attractive returns and quality advice. These elements are expected to be key growth drivers over the next few years. The strategy aligns with the strategic direction set in Danske Bank’s Forward ’28 strategy, underscoring the significant potential in synchronising services between the bank and the pension business.

    As the success of our strategy relies on solid execution, we have a significant focus on our employees, supported by investments in development activities, leadership and the workplace. Employee satisfaction and engagement scores continued to improve from already high levels and are now above the industry benchmark.

    Sustainability is a key focus area in Forward ’28, and our ambition is to be a leading Nordic bank in terms of supporting the sustainability transition of customers, businesses and the Nordic societies that we are a part of. Our efforts are reinforced by new ESG advisory services, comprehensive staff training, recruitment of specialists and strategic partnerships, all aimed at supporting our customers’ sustainability transition. In line with European regulation, for the 2024 annual report, Danske Bank has prepared a sustainability statement in accordance with the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS).

    Better-than-expected macroeconomic conditions
    Macroeconomic conditions developed more favourably than expected in the markets in which we operate. Especially in Denmark, the inflation and growth outlook improved during the year, and this development is forecast to continue as central banks continue their easing trajectories, leading to lower rates for both households and businesses. Although the growth outlook has improved broadly speaking in the Nordic region, the uncertainty related to Europe’s long-term growth prospects and ability to innovate persists.

    In times of uncertainty for both Danske Bank and our customers, our well-capitalised balance sheet has enabled us to be a strong financial partner for our customers, and we have continued to support them with risk management expertise and expert advice.

    Strong financial performance
    An improved commercial momentum in our business, supported by better-than-expected macroeconomic conditions and strong credit quality have enabled us to strengthen profitability and generate record-high net profit. The return on equity thus increased from 12.7% to 13.4%, highlighting our positive trajectory and progress towards our 2026 targets.

    In 2024, total income grew 8%, driven by a sustained uplift in core banking income. Despite central bank rate cuts and lower deposit margins as well as overall muted credit demand, net interest income showed the expected strong development, with increasing net interest income throughout the year. Net fee income continued the positive traction throughout the year, reflecting our overall strong development and ability to do more business with existing customers and to attract new customers. We saw a higher level of fee income from cash management products, and customer activity generally remained high. Furthermore, we saw an increase in investment fees generated by strategic investments in our private banking offerings as well as a strong development in fees from asset management.

    Net trading income remained stable, and net income from insurance business benefited from stable financial markets, with the health and accident business continuing to be challenged, however.

    Operating expenses developed according to plan and were at the same level as in 2023. The minor year-on-year increase was caused mainly by higher investments in our technology transformation made under our Forward ’28 strategy and staff costs that were impacted by wage inflation. Costs related to financial crime prevention and legacy remediation decreased in line with our plan for a normalisation of costs, and together with prudent cost management, this led to an improvement in the cost/income ratio to 46% from 49%.

    Loan impairment charges amounted to a net reversal of DKK 543 million, reflecting strong credit quality and modest impairments against single-name exposures coupled with a review of post-model adjustments. We continue to apply significant post-model adjustments as well as a scenario-based macroeconomic model to cater for potential tail risks that are not evident in our portfolio. Overall, the macroeconomic environment improved during 2024 and was characterised by lower inflation, lower interest rates and an enhanced growth momentum.

    Overall, we ended the year with the same positive momentum that we saw in the first nine months of 2024. This resulted in record-high net profit of DKK 23.6 billion, up 11% from 2023.

    “The first year of execution of our Forward ’28 strategy, 2024 was an important year for Danske Bank’s financial performance: With income growth driven by our growing core income as well as our continued efforts to support customers and drive the commercial momentum, net profit represents a record-high result,” says Stephan Engels, Chief Financial Officer.
    We continue to create value to the benefit of our customers, our shareholders and society: Our tax expense amounted to DKK 7.6 billion, and given our strong capital position, and in line with the Forward ’28 strategy, the financial year 2024 enables us to make a significant payout to our shareholders.

    Delivering on capital distribution
    Given our strong balance sheet, and as planned in the Forward ’28 strategy, the financial year 2024 yields a significant payout to our shareholders. We paid a dividend of DKK 7.50 per share in connection with the interim report for the first half of 2024, and we propose a dividend of DKK 9.35 per share for the second half of 2024 as well as an extraordinary dividend of DKK 5.35 per share. Furthermore, on 6 December 2024, we announced a special dividend of DKK 6.50 per share following the successful transfer of the personal customer business in Norway. In total, our distribution for 2024 amounts to DKK 28.70 per share.

    It remains crucial for us to create value for all our stakeholders, including our shareholders, customers, employees and the societies we are part of, and as a bank we need to attract capital from shareholders to lend and do business. Besides large institutional investors, our capital distribution benefits most major pension funds in Denmark as well as private individuals in Denmark, who have invested part of their savings in Danske Bank shares. In total, we have more than a quarter of a million investors, of which more than half are private individuals in Denmark.

    Danske Bank’s dividend policy for 2025 remains unchanged, targeting a dividend payout of 40-60% of net profit in the form of annual dividend payments.

    Share buy-back
    The share buy-back programme launched in February 2024 of DKK 5.5 billion was completed in January 2025.

    On the basis of the financial results for 2024, the Board of Directors has decided to initiate a new share buy-back programme of DKK 5 billion, taking the total payout ratio to 100% of net profits when including the dividend for 2024 but excluding the special dividend related to the transfer of the personal customer business in Norway. The programme, which has been approved by the Danish Financial Supervisory Authority, will start on 10 February 2025.

    Outlook for 2025
    We expect net profit for 2025 to be in the range of DKK 21-23 billion.
    The outlook is subject to uncertainty and depends on economic conditions.

    Download the Annual Report as zip here.

    Danske Bank

    Contact: Helga Heyn, Head of Media Relations, tel. +45 45 14 14 00

    More information about Danske Bank’s financial results is available at www.danskebank.com/reports.

    Attachments

    The MIL Network –

  • MIL-OSI USA: Murphy, Blumenthal Call For Investigation Into RealPage Algorithm Potentially Hiking Rents For Military Families, Siphoning Money From U.S. Military

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    HARTFORD—U.S. Senators Chris Murphy (D-Conn.) and Richard Blumenthal (D-Conn.), on Thursday joined their colleagues in sending a letter to U.S. Secretary of Defense Pete Hegseth calling for an investigation into whether landlords may be using property management software company RealPage’s services to price gouge military families.

    The U.S. Department of Defense (DoD) provides servicemembers with a Basic Allowance for Housing (BAH) to cover the costs of owning or renting privately managed housing, an allowance that is adjusted periodically by region to keep up with housing costs. In 2023, DoD spent $24 billion on housing allowances for servicemembers. 

    There are long-held concerns that landlords are raising rents to pocket these BAH increases, rather than raising rents because of market conditions. One recent study even found that it was “common for landlords to base their rent on the BAH for a particular rank,” so servicemembers see no difference in their yearly income. 

    Services provided by RealPage may enable landlords to raise rents even more aggressively, to the detriment of military families, by allowing landlords to exchange proprietary information about lease terms and rents and to set prices using non-public information.

    DOJ and state attorneys generals have already alleged that RealPage contributed to excessive rental costs in several places where DoD raised housing allowances, including Houston, San Diego, Spokane, and Wilmington. Florida has also opened an investigation into whether RealPage is violating antitrust laws; notably, military housing rents increased across Florida during 2022 and 2023 including in Miami, West Palm Beach, Volusia County, and Fort Myers Beach. 

    In addition to hurting military families, unsustainable housing prices have negative implications for recruitment and retention for our military. Increasing housing costs are forcing families to delay moves and choose housing in unsafe neighborhoods or with low-quality conditions. Unlike civilian families, military families “do not have the opportunity to stabilize their housing costs due to frequent relocation.” 

    A recent Government Accountability Office report on military housing confirmed the negative impacts of high housing prices, including servicemembers taking on debt or commuting long distances for quality housing. 

    “The Department of Defense has a responsibility to protect military families from predatory private housing companies and ensure that taxpayer dollars meant for military families are not being pocketed by unscrupulous landlords,” the senators wrote. 

    The senators requested that DoD provide information on whether algorithms like RealPage’s are artificially driving up housing prices for military families by February 13, 2025. 

    U.S. Senators Elizabeth Warren (D-Mass.), Ruben Gallego (D-Ariz.), Catherine Cortez Masto (D-Nev.), Tammy Duckworth (D-Ill.), Andy Kim (D-N.J.), Ed Markey (D-Mass.), Jeff Merkley (D-Ore.), Bernie Sanders (I-Vt.), Tina Smith (D-Minn.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Peter Welch (D-Vt.), and Ron Wyden (D-Ore.) also signed the letter.

    Full text of the letter is available HERE and below.

    Dear Secretary Hegseth:

    In the wake of the Department of Justice’s (DOJ) recent antitrust lawsuit against RealPage, joined by ten states across the country,1 we write with significant concern about whether companies and landlords using RealPage may be price gouging military families.

    The Department of Defense (DoD) provides service members a Basic Allowance for Housing (BAH) to cover the costs of owning or renting privately managed housing.2 But families continue to report that BAH rates are not keeping up with rising housing costs.3

    In fiscal year 2023, DoD spent $24 billion on BAH.4 There are long-held concerns, however, that landlords are raising rents to pocket these BAH increases, rather than raising rents because of market conditions.5 One recent study found that it was “common for landlords to base their rent on the BAH for a particular rank.”6 These findings raise significant concerns that landlords are profiteering by taking taxpayer money that is intended to support military families.

    Services provided by RealPage may enable landlords to raise rents even more aggressively to the detriment of military families. RealPage’s services YieldStar and AIRM help landlords exchange proprietary information about lease terms and rents in order to maximize revenue.7

    In August 2024, the Justice Department and attorneys general in eight states filed an antitrust lawsuit alleging that RealPage engaged in an “unlawful scheme to decrease competition among landlords in apartment pricing and to monopolize the market for commercial revenue management software that landlords use to price apartments.”8 Last month, two more state attorneys general joined the suit, and the Justice Department expanded the lawsuit to six of the nation’s largest landlords.9 RealPage’s tactics allegedly included exerting significant pressure on landlords to accept their recommendations to increase prices, including an “auto accept” feature which automatically adjusted rents for property managers.10 If a landlord or property manager rejected a recommendation, a “pricing advisor” from RealPage allegedly reached out and pushed them to take the recommendation.11 In 2022, a vice president of RealPage credited their software for increasing apartment rents by over 14.5%.12

    In 2022, DoD increased the BAH for 28 military housing areas where rental housing costs increased by an average of more than 20 percent.13 The lawsuit of DOJ and state attorneys general alleges that RealPage contributed to excessive rental costs in several of these places, including San Diego,14 Wilmington,15 and Houston.16 Similarly, in 2021, DoD selected Spokane, Washington as one of the five military housing areas to receive a temporary 20 percent BAH hike;17 the antitrust suit alleges that RealPage contributed to drastic increases in rent prices in this area, where Fairchild Air Force Base and Joint Base Lewis McChord are located.18 Florida has also opened an investigation into whether RealPage is violating antitrust laws; notably, military housing rents increased across Florida during 2022 and 2023 including in Miami, West Palm Beach, Volusia County, and Fort Myers Beach.19

    In addition to harming military families, unsustainable housing prices have negative implications for recruitment and retention for the U.S. Armed Forces. Increasing housing costs have forced some families to delay permanent change of station moves and choose housing in unsafe neighborhoods or in unsatisfactory conditions. A recent military family lifestyle survey found that “housing costs remain the top contributing factor to financial stress for active-duty famil[ies]” and that “higher out-of-pocket housing costs may influence military families’ likelihood to recommend military service.”20 A majority of those who live in civilian housing “continue to pay well over

    $200 per month in housing costs out of pocket”21 on top of their BAH. These predatory housing practices are especially detrimental to military families because “unlike civilian peers, military families do not have the opportunity to stabilize their housing costs due to frequent relocation.”22

    A recent Government Accountability Office (GAO) report on military housing confirmed the negative impacts of high housing prices on military families, finding that “some service members reported having to take on debt or commute long distances to afford quality housing.”23 GAO determined that existing DoD guidance is “insufficient to address military population effects on local housing market.”24 “GAO’s statistical analyses found that counties with higher military populations were associated with having higher median rents and rent-to-income ratios.”25 Local government officials also acknowledged the largely insufficient housing supply and issues with affordability.26 In its report, GAO recommended that DoD develop a comprehensive list of critical housing areas, regularly update said list, obtain and use feedback on the financial and quality-of- life effects of limited supply or unaffordable housing on service members, develop a plan for DoD to respond to and address those effects, and clearly define the roles and responsibilities of installation commanders and military housing offices in addressing housing needs.27

    The Department of Defense has a responsibility to protect military families from predatory private housing companies and ensure that taxpayer dollars meant for military families are not being pocketed by unscrupulous landlords. We seek information that DoD may have on whether algorithms such as those used by RealPage are artificially driving up housing prices for military families, as well as members of the community who do not receive BAH.28 We are also interested in DoD’s broader strategy to ensure landlords are not using RealPage’s services to price gouge military families. Therefore, we ask that you provide answers to the following questions by February 17, 2025.

    1. How effective have DoD’s targeted BAH temporary hikes been at ensuring that military families have access to safe, clean, and affordable housing?
    2. How many reports has DoD received, if any, involving landlords increasing rents in response to BAH increases?
    3. Has DoD conducted any assessments or made any determinations regarding whether landlords in military communities are using RealPage’s YieldStar or AIRM products to price gouge military families?
      1. If so, what have these assessments found?
        1. How many military families rent from landlords who use YieldStar or AIRM products?
        2. Have these products contributed to rent increases for these families?
        3. What information or data has DoD collected to determine the impact of rent-setting algorithms on BAH rates?
        4. What information or notifications has DoD provided to service members or military families in these communities to help prevent them from being gouged by landlords using these algorithms?
      1. If not, why not?
    1. What language, if any, does DoD include in its housing agreements with private companies to ensure programs like RealPage’s YieldStar or AIRM products are not used to influence their rent prices?
    2. Does DoD policy allow private military housing companies to collect data on renters and share it with other landlords, whether through RealPage or through other means?
    3. How does DoD protect military families’ personal information from being disclosed by private housing companies who provide military housing?

    Thank you for your attention to this important matter.

    MIL OSI USA News –

  • MIL-OSI China: Amazon posts net income, revenue growth in Q4 results

    Source: China State Council Information Office 3

    Amazon.com, Inc. on Thursday announced its financial results for the fourth quarter ending Dec. 31, 2024, with net sales of 187.8 billion U.S. dollars, up 10 percent year on year.

    The company’s net income increased to 20.0 billion dollars in the fourth quarter, or 1.86 dollars per diluted share, compared with 10.6 billion dollars, or 1.00 dollars per diluted share, in the fourth quarter of 2023.

    Its net income increased to 59.2 billion dollars in the full year of 2024, or 5.53 dollars per diluted share, compared with 30.4 billion dollars, or 2.90 dollars per diluted share, in 2023.

    Amazon’s net sales increased 11 percent to 638.0 billion dollars in 2024, compared with 574.8 billion dollars in 2023.

    The company’s operating cash flow increased 36 percent to 115.9 billion dollars for the trailing 12 months, compared with 84.9 billion dollars for the trailing 12 months ending Dec. 31, 2023.

    Its free cash flow increased to 38.2 billion dollars for the trailing 12 months, compared with 36.8 billion dollars for the trailing 12 months ending Dec. 31, 2023.

    “The holiday shopping season was the most successful yet for Amazon,” said Andy Jassy, president and CEO of Amazon.

    The introduction of new Trainium2 artificial intelligence chip, the foundation models in Amazon Nova, and the next edition of Amazon SageMaker are among the most remarkable innovation delivered across Amazon’s businesses, he said, adding that these are substantial enablers in the emerging technology environment.

    MIL OSI China News –

  • MIL-OSI Security: WRAIR empowers far-forward medics with advanced behavioral health training

    Source: United States INDO PACIFIC COMMAND

    CAMP HUMPHREYS, South Korea  –  

    In January 2025, the Walter Reed Army Institute of Research joined forces with the 65th Medical Brigade at Camp Humphreys, South Korea, to conduct a train-the-trainer course on Behavioral Health Guidelines for mEdic Assessment and Response. Designed to equip medics and unit helpers—many without prior behavioral health training—with essential skills for assessing and addressing mental health issues, the course marks a significant step toward bolstering mental health support within military units.

    Led by Dr. Katie Nugent, a behavioral health epidemiologist at WRAIR’s Military Psychiatry branch, the three-and-a-half-day program was supported by an expert team that included Dr. Josh Wilk, Ms. Kristina Clarke-Walper, Maj. Jose Nunuz, Capt. George Mesias, and Ms. Mary Sampson. The training provided a comprehensive, hands-on experience that prepared participants not only to implement BH GEAR within their own units but also to train others, thereby creating a multiplier effect.

    “We know that behavioral health problems are commonly experienced, but in garrison and far-forward environments, there just aren’t enough trained providers to meet the need” said Dr. Nugent on BH GEAR’s origin. “Medics are ideally suited to fill this need because they are already monitoring their unit’s health.”

    Recent data underscores that medics often feel less confident when discussing mental health compared to physical health. To address this, BH GEAR was developed to enhance medics’ knowledge and confidence in identifying and managing mental health concerns, ensuring they have the practical tools needed to support their units effectively.

    This course was the fifth iteration of the BH GEAR train-the-trainer program, following successful sessions at Joint Base Lewis McChord, Fort Drum, Landstuhl Regional Medical Center, and Fort Bliss. The training format is dynamic and interactive: after observing a sample session on the first day, participants were divided into groups to practice segments of the training, receive targeted feedback, and refine their delivery techniques. The curriculum also covered common challenges in facilitation and provided extensive training materials to ensure that every participant could confidently conduct BH GEAR sessions independently.

    Dr. Nugent emphasized the importance of this hands-on approach: “you can’t just show them the training and be done with it. Our method of breaking into groups, practicing, and receiving feedback ensures that each trainee is fully prepared to lead BH GEAR training within their own unit.”

    The successful delivery of the training at Camp Humphreys represents a significant milestone toward more widespread implementation of BH GEAR. “Our team is excited to meet the increasing demand for mental health support,” Dr. Nugent said. “We are actively working to integrate BH GEAR into the initial, annual, and pre-deployment training curricula for Army, Navy, and Air Force medics. This integration is essential for ensuring that medics are equipped to safeguard not only the physical but also the mental well-being of their units.”

    MIL Security OSI –

  • MIL-Evening Report: Belle Gibson built a ‘wellness’ empire on a lie about cancer. Apple Cider Vinegar expertly unravels her con

    Source: The Conversation (Au and NZ) – By Edith Jennifer Hill, Associate Lecturer, Learning & Teaching Innovation, Flinders University

    Netflix

    Netflix’s new limited series, Apple Cider Vinegar, tells the story of the elaborate cancer con orchestrated by Australian blogger Annabelle (Belle) Gibson.

    The first episode opens with Gibson’s character (played by Kaitlyn Dever) breaking the wall between the performance and the audience, saying:

    This is a true story based on a lie. Some names have been changed to protect the innocent. Belle Gibson has not been paid for the recreation of her story.

    And from these first few seconds, we know, Gibson herself is not innocent.

    A familiar story

    For anyone who followed Gibson during her rise to fame in the 2010s – or her spectacular fall – the show feels eerily familiar.

    From the clothing, to the makeup, to the food, Apple Cider Vinegar excels in set design and staging. Every effort has been made to ensure this true story, based on a lie, looks like it did when it was unfolding on our phone screens in 2010s.

    As someone who followed Gibson closely and spent months hunting down the recalled cookbook to see if the health claims were as outlandish as I’d heard (they were), this show was a treat to watch.

    The scenes are cut with recreations of Belle’s stylised Instagram pictures of green juices, beaches and food with “no nasties”. Belle’s account was removed from Instagram after the massive public ousting of her hoax.

    Apple Cider Vinegar has done an incredible job recreating this account and breathing life back into the deleted content.

    Even after being caught out, the real Gibson claimed ‘unscrupulous natural therapists duped her into believing she was dying’, according to 60 Minutes.
    Netflix

    The cancer con

    While the core story of Apple Cider Vinegar is unpacking Gibson’s lies and path to destruction, it also shows us a very real and heartbreaking side to cancer.

    Other prominent characters include fellow influencer, Milla Blake (played by Alycia Debnam-Carey) and follower Lucy (played by Tilda Cobham-Harvey). Both of these women are battling cancer. We learn about their relationships with Gibson and how her lies so easily bled into their lives.

    We witness how alluring Gibson’s lies were for people who were desperately looking to feel “well”. We understand her magnetism, and just as easily to feel the rage of the families who watched as their loved ones deteriorated. In the words of Lucy’s partner:

    I’m not letting some influencer with a nose ring undercut years of medical research.

    Apple Cider Vinegar demonstrates how one can be taken down a path of cancer treatment quackery. The allure of alternative medicine is presented compellingly when contrasted with the painful realities of traditional cancer treatment.

    Milla, suffering from an aggressive form of cancer, seeks out alternative options after doctors recommend an amputation. She says:

    I didn’t know the words to describe the rage I felt when the doctors looked at my body and only saw disease.

    While holistic approaches to many diseases can be helpful when combined with traditional treatment, Apple Cider Vinegar illustrates how toxic it can be to “moralise” health.

    When people assign moral properties to neutral health conditions such as cancer, AIDS or COVID, this can lead to stigmatisation and feelings of being “bad”. Some characters in the show talk about how their behaviours led them to sickness and how “healthy” actions would save them (rather than medical treatment).

    The show also regularly uses language that is prominent in online health communities, such as referring to certain foods as “good” or “toxic”. In one scene, we see a character fall into a panic and call a holistic health professional after her parent takes a pain killer.

    The real story

    Apple Cider Vinegar is based on the book The Woman Who Fooled the World by Beau Donelly and Nick Toscano, two journalists who were instrumental in uncovering Gibson’s lies.

    Creator Samantha Strauss crafts this story expertly. We see Gibson’s story from all sides. We feel sympathy for her – for her childhood and loneliness – before being put in the shoes of someone whose partner is dying because they followed Gibson’s advice.

    Some characters and scenes have clearly been fabricated, such as when Gibson claims to see a doctor named “Dr Phil”. But these fabrications seem acceptable, because we are told from the beginning that’s what this show would do: create and fictionalise some characters.

    Other scenes feel very real. The character Milla Blake, a fellow influencer, is heavily inspired by the real woman who died in 2015 from epithelioid sarcoma.

    She made a platform online by sharing how she rejected traditional cancer treatment in favour of alternative treatments (Gerson therapy). Like Belle, she was a part of the inspirational speaking and author circuit at the time.

    Alycia Debnam-Carey (left) plays Milla Blake, a character based on a real woman who died from epithelioid sarcoma in 2015.
    Netflix

    In their book The Woman Who Fooled the World, Donelly and Toscano speculate about how Belle got close to this influencer (to follow her pattern of success online) and to other cancer patients, including a young boy and his family (to mimic symptoms and appear more authentic).

    Apple Cider Vinegar shows us hints of this behaviour. We see Belle begin to mimic the language of other people sharing their experiences with cancer and act in similar ways.

    Whether or not you are already familiar Gibson’s story, Apple Cider Vinegar is a compelling watch. You’ll especially love it if you enjoy non-fiction productions that play with ideas of truth such as iTonya, the Tinder Swindler and Inventing Anna.

    Apple Cider Vinegar is streaming now on Netflix.

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

    – ref. Belle Gibson built a ‘wellness’ empire on a lie about cancer. Apple Cider Vinegar expertly unravels her con – https://theconversation.com/belle-gibson-built-a-wellness-empire-on-a-lie-about-cancer-apple-cider-vinegar-expertly-unravels-her-con-248999

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Russia: The XIV Siberian Tournament of Young Physicists was held at NSU

    Translartion. Region: Russians Fedetion –

    Source: Novosibirsk State University – Novosibirsk State University –

    From January 29 to February 2, schoolchildren from the Novosibirsk Region, Moscow, Ufa, and Tyumen “fought” in team physical battles. In the Budker Large Physics Auditorium in the main building of NSU (Pirogov, 2), 22 teams that made it to the finals examined physics problems that were not typical for the school curriculum from three different angles over several days.

    TUF is a personal and team competition of senior schoolchildren in the ability to solve complex research and scientific problems, convincingly present their solutions, and defend them in scientific discussions – physical battles.

    — In Russia, the Tournament of Young Physicists has been held since 1979. The first competitions in Siberia were held in 1990. That tournament did not last long. In 2012, the Siberian Tournament of Young Physicists was held. It was held according to the same rules that we play by to this day. The tournament is absolutely open to everyone, so guests from other regions always come to us. This year, in addition to Novosibirsk and regional teams, there were teams from Moscow, Ufa and Tyumen. Mostly, high school students in grades 9-11 participate in the tournament, but there are also guys in grades 7-8 who are interested in physics in the teams, — said Mikhail Solodovnikov, President of the Public Movement “Tournament of Young Physicists”.

    For the team to participate in the tournament, the coach must submit an application and confirm that his team has solved at least 5 problems. The list of problems at SibTUF consists of 10 problems.

    The participants demonstrated a high level of preparation and professionalism in the competition, which was held according to traditional rules. The teams prepared solutions to the problems in advance, distributing roles: one group acted as a speaker, another as an opponent, and a third as a reviewer.

    The final part of the competition was a fascinating confrontation between the three strongest teams. The panel of judges included representatives of the Physics Department and other departments of Novosibirsk State University, as well as teachers of the Specialized Educational and Scientific Center of NSU.

    The winner of the final of the competition was the team “Beavers” from the Municipal Budgetary Educational Institution “Gymnasium No. 4” of the city of Novosibirsk. The second place was taken by the team “Physicon-1”, consisting of students from schools of the Iskitimsky district, including the villages of Lebedevka and Talmenka, as well as the city of Iskitim. The third place, slightly behind the leader, was taken by the team “DIO-GEN”, representing WITHspecialized educational and scientific center of NSU and other schools in the city of Novosibirsk.

    — I have been participating in “young” tournaments for the past five years. From the 7th to the 9th grade, I played in the TYuE (Young Naturalists Tournament), and from the 9th to the 11th grade, in the TYuF. This tournament was our first face-to-face appearance in such a line-up. It happens that from year to year, children in a team do not change much, but this is not our case. Therefore, during the qualifying battles, we learned how to interact with each other correctly. And I think we learned For me, this is the main result of the tournament — the team is happy, we love each other and the tournament. At the final, to be honest, everything did not go exactly according to plan right away, so even after the victory we … We were not very happy. But this will pass, and warm memories will remain) Our team is strong enough to survive this with dignity and draw the right conclusions. It will be better from now on, — shared her impressions Anastasia Litvinova, a member of the “Bobry” team.

    — Participants of the tournament of young physicists receive a lot of knowledge and skills that help them not only in their studies, but also in their future life. Naturally, the first thing is a different understanding of physics from school. Each team member faces a new type of problems for him, which do not have a clear answer. This is real research work! Teamwork. For a successful result, it is necessary to be able to competently compose work within the team. This develops a number of competencies in the child: communication, leadership, cooperation and self-confidence. The tournament is also an opportunity to see the work of a research fellow in action, to try it on yourself. After all, the path that a schoolchild goes through when solving a tournament problem is very similar to work in research institutes, — said Anastasia Kutepova, junior research fellow at ITAM SB RAS, responsible for the work of the judging teams of SibTUF, and also the coach of the DIO-GEN team.

    In addition to competencies and experience, TUF winners and prize winners receive bonuses for further education:

    – First-degree winners receive 10 points for their entrance exams to NSU.

    – 2nd and 3rd place winners receive 7 points for admission.

    – Schoolchildren in grades 8-10 receive invitations to the summer school of the NSU SUNC based on the results of the individual championship.

    According to the President of SibTUF, the tournament will not only not lose its relevance in the coming years, but, on the contrary, will gain great popularity due to the global development of technologies and interest in science. The advantage of physics is that it has a very compact, but at the same time effective apparatus of natural-scientific knowledge of nature. The apparatus that was formed in Ancient Greece, then by Newton and the classics of modern physics, remains very compressed and convenient. The number of formulas is growing, but the principles of observation, experiment, confirmation of theoretical hypotheses, creation of new theories based on experiments – all this remains, and therefore, interest in physics remains:

    — We live in a technological age, but we must not forget that the hardware of information technologies is created by physicists. If physicists do not create modern equipment, then specialists in the field of artificial intelligence, other information technologies, virtual reality technologies, simply will not be able to work. Physics continues to be the foundation of foundations and attracts even more interested people from among young people, — Mikhail Solodovnikov believes.

    As part of the tournament of young physicists, excursions for schoolchildren and their teachers were held at the Physics Department of NSU. The tournament participants visited the laboratory of molecular physics and the laboratory of physical optics, and also watched unique physical demonstrations from active physicists – master’s students of the Physics Department of NSU. The highlight of the excursions was live communication with scientists of the department – schoolchildren were able to ask questions of interest to teachers of the Physics Department.

    — Such open events with a physical focus allow children whose interests go beyond the school curriculum and computer games to develop their creative and scientific potential, express themselves, receive feedback from professionals in the physical field and visit the university they may enter in the future, — said a junior researcher at the Institute of Hydrodynamics SB RAS and a first-year master’s student Physics Department of NSU Alexander Paraskun, he conducted a demonstration of phenomena for schoolchildren.

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

    MIL OSI Russia News –

  • MIL-OSI Economics: Japan: Staff Concluding Statement of the 2025 Article IV Mission

    Source: International Monetary Fund

    February 7, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    Washington, DC – February 7, 2025[1]:

    After three decades of near-zero inflation, there are signs that Japan’s economy can sustainably converge to a new equilibrium. Inflation has surpassed the Bank of Japan’s 2-percent target for over two years and a tight labor market is delivering the strongest wage growth since the 1990s. But Japan continues to face challenges from its aging population and high public debt. Policy priorities are to re-anchor inflation expectations, rebuild fiscal buffers, and advance labor market reforms to support potential growth.

    RECENT DEVELOPMENTS, OUTLOOK, AND RISKS

    The economy contracted in the first half of 2024 due to temporary supply disruptions but gained momentum in the rest of the year. Domestic demand, private consumption in particular, has strengthened, while net external demand has been sluggish. Both headline and core inflation (excluding fresh food and energy) remain above the BoJ’s 2-percent headline inflation target. Goods inflation has been boosted by energy and food prices, while services price growth is relatively weaker and below 2 percent. Inflation expectations are becoming increasingly aligned with the inflation target, though some measures remain below that target. The yen-dollar exchange rate has experienced sizable swings, largely driven by shifts in interest rate differentials (which reflect broader macroeconomic developments), but also amplified by the build-up and subsequent unwinding of yen carry-trade positions. The pass-through to inflation is estimated to have been relatively mild so far. Wages are growing at their highest rate since the 1990s amid labor shortages and strong inflation, but they have remained lackluster in real terms.

    Growth is expected to accelerate in 2025, with private consumption strengthening further, as above-inflation wage growth will boost households’ disposable income. Private investment is also expected to remain strong, supported by high corporate profits and accommodative financial conditions. The output gap is estimated to be closed, and growth is expected to converge to its potential of 0.5 percent in the medium term. Headline and core inflation are expected to converge to the BoJ’s 2-percent headline inflation target in late 2025, helped by a moderation in commodity prices for oil and food. The current account surplus is expected to moderate in 2025 as the income balance narrows, with the trade balance remaining in deficit. The external position is assessed as broadly in line with the level implied by medium-term fundamentals and desirable policies.

    Risks to growth are tilted to the downside. On the external side, these include a slowdown in the global economy, deepening geoeconomic fragmentation and increasing trade restrictions, and more volatile food and energy prices. On the domestic side, the main downside risk is weak consumption if real wages do not pick up. Another domestic risk to the outlook is a possible decline in confidence in fiscal sustainability that leads to a tightening of financial conditions in the context of high public debt and gross financing needs. If downside risks materialize, it could result in Japan reverting to an effective-lower-bound constrained environment given the still-low level of the policy rate. 

    Risks to inflation are broadly balanced. On the downside, inflation expectations may stall below the headline inflation target following Japan’s prolonged experience with low inflation. Upside risks stem from rising food and energy prices, and from stronger-than-expected wages in the upcoming spring wage negotiations. Higher barriers to trade and cost pressures in major trading partners could spill over to Japan but the impact on domestic prices would be ambiguous given lower economic activity.

    ECONOMIC POLICIES

    Fiscal Policy

    The estimated fiscal deficit in 2024 is smaller than expected at the time of the 2024 Article IV. Tax revenues have been boosted by high corporate profits, and expenditures to support the economic recovery (such as transfers to households and SMEs) have been partly phased out. The fiscal deficit is projected to increase slightly in 2025, with additional spending planned for defense, children-related measures, and industrial policies (IP). There is a significant risk that the deficit will widen further, given the political demands on the minority government. This should be avoided as fiscal space remains limited: any expansionary measure should be offset by higher revenues or expenditure savings elsewhere in the budget.

    Public debt, as a share of GDP, is expected to decline in the near term, as nominal GDP growth is projected to exceed the effective interest rate on public debt. Public debt will remain high, however, and is estimated to start rising by 2030, driven by a higher interest bill and expenditure pressures related to spending on health and long-term care for an aging population. A clear consolidation plan is needed even in the near term to fully offset these pressures, ensure debt sustainability, and increase fiscal space needed to respond to shocks (including from natural disasters). This will require elaborating concrete and credible expenditure and revenue measures in the context of a robust medium-term fiscal framework:

    • The composition of public spending should be more growth-friendly, including by eliminating poorly targeted subsidies, notably energy subsidies, while preserving expenditure on high-quality public investment. Enhancing the targeting and efficiency of social security spending is critical to containing rising costs while preserving quality.
    • On the revenue side, options include strengthening financial income taxation for high-income earners, lowering exemptions and broadening the taxable valuation base under the property tax, streamlining income tax deductions, and unifying and eventually increasing the consumption tax rate. The PIT reform to the income deduction limit that is currently under consideration would need to be financed by additional revenues or savings elsewhere in the budget.
    • The repeated use, and incomplete execution of supplementary budgets undermines efficient resource allocation, budget transparency, and fiscal discipline. The use of supplementary budgets should be limited to responding to large, unexpected shocks that overwhelm automatic stabilizers, which would also avoid providing unwarranted stimulus in normal times. All medium-term spending commitments—including on IP and green transformation—should be incorporated into the regular budget process.

    As interest rates rise, the cost of servicing the large public debt is expected to double by 2030, putting a premium on a robust debt management strategy. In the face of rising gross financing needs and a shrinking BoJ balance sheet, government bond issuance will need to rely on additional demand from foreign investors and domestic institutions.

    Monetary and Exchange Rate Policies

    The current accommodative monetary policy stance is appropriate and will ensure inflation expectations rise sustainably to the 2-percent inflation target. Accommodation should continue to be withdrawn gradually if the baseline forecast bears out, under which we expect the policy rate would reach a neutral level by end-2027. High domestic and external uncertainty underscore the need for the BoJ to maintain its data-dependent and flexible approach and clear communications to anchor market expectations.

    The BOJ’s ongoing reduction in the size of its balance sheet has been clearly communicated, is appropriately modest in pace, and is proceeding smoothly. The BoJ should stand ready to modify the pace of its purchases should disorderly bond market conditions arise or if financial conditions become inconsistent with the desired monetary policy stance.

    Japan’s large stock of outstanding government debt and sizable net international investment position provide an important transmission channel for monetary policy to spill over into asset prices abroad. Clear communication and gradualism can limit adverse asset price reactions and outward spillovers.

    The authorities’ continued commitment to a flexible exchange rate regime is welcome. Exchange rate flexibility should continue to help absorb external shocks and support monetary policy’s focus on price stability. At the same time, it will also help maintain an external position in line with fundamentals.

    Financial Stability

    Japan’s financial system remains broadly resilient, supported by strong capital and liquidity buffers. Banks’ revenues have generally increased as credit costs remain low, the rise in interest rates has been gradual, and the yen has depreciated. Major banks continue to manage interest rate risks proactively through portfolio rebalancing and diversifying their funding sources. Financial intermediation remains stable supported by continued demand for loans from both corporate and household sectors. The insurance sector is well-capitalized and profitable, despite challenges from market volatility and demographic shifts.

    While the financial system remains generally resilient, systemic risk has risen slightly since the 2024 Article IV consultation, reflecting a combination of rising macroeconomic uncertainty, risk of faster than expected interest rates increases or unrealized losses, and rising bankruptcies among SMEs. Rising global macroeconomic uncertainty could impact Japanese banks’ investments. While gradually rising interest rates have helped bank profitability, faster-than-expected increases in interest rates or sudden changes in global financial conditions could amplify financial market volatility and interact with three persisting vulnerabilities identified in the 2024 FSAP: large securities held under mark-to-market accounting, significant foreign currency exposures—particularly through US dollar funding instruments—and signs of overheating in some areas of real estate. A faster-than-expected tightening of financial conditions could also disrupt the JGB market, amplifying interest rate risks for banks with larger exposures. Less-capitalized domestic banks are more vulnerable to rate hikes, facing heightened risks from unrealized losses and higher funding costs. Corporate defaults among smaller SMEs have been increasing, albeit from a low base, and could pose risks for regional banks with high SME loan exposure. 

    Strengthening systemic risk monitoring and the macroprudential policy framework is needed to better mitigate risks in the financial system. Ongoing efforts to expand data collection, enhance analytical capacity, and improve coordination between the FSA and BOJ are welcome. To further enhance systemic risk analysis, closing remaining data gaps and advancing analytical tools for a more comprehensive assessment of systemic vulnerabilities, including those related to foreign currency exposure, remain key priorities. Assigning a formal mandate to the Council for Cooperation on Financial Stability would reinforce the institutional framework, while expanding the macroprudential policy toolkit with targeted borrower-based measures would help mitigate vulnerabilities in the real estate sector.

    Further strengthening financial sector oversight is essential to bolster stability and resilience against emerging risks and vulnerabilities. While progress has been made in expanding staffing resources in certain areas, additional allocations are needed to reinforce financial supervision. The authorities should continue to enhance risk-based supervision to respond flexibly to an evolving banking system. Strengthening the Early Warning System with more forward-looking indicators, especially for credit and liquidity risks, and establishing minimum liquidity requirements for domestic banks would enhance stability. Supervisors should also have the authority to adjust bank capital ratios above minimum requirements based on individual risk profiles and financial conditions.

    The authorities should remain prepared to address market strains as they arise. The liquidity and functioning of the JGB market have improved since April but experienced temporary deterioration in early August amid a spike in market volatility. Rising foreign market volatility could impact domestic liquidity conditions, potentially triggering spillover effects. To mitigate these risks the central bank should closely monitor liquidity conditions and funding rates in money markets, while paying particular attention to the uneven distribution of liquidity among banks as well as the growth in repo transactions driven by demand from financial dealers and foreign investors. The scope of institutions eligible to receive emergency liquidity assistance could be expanded to nonbank financial institutions, prioritizing central counterparties. Recovery and Resolution Planning should be gradually expanded to all banks that could be systemic at failure, requiring more banks to maintain a minimum amount of loss-absorbing capacity tailored to their resolvability needs.

    Structural Policies

    Japan’s total factor productivity growth has been slowing for a decade and has fallen further behind the United States. A steady decline in allocative efficiency since the early 2000s has been a drag on productivity, and likely reflects an increase in market frictions. In addition, Japan’s ultra-low interest rates may have allowed low-productivity firms to survive longer than they otherwise would have, delaying necessary economic restructuring. Reforms aimed at improving labor mobility across firms would help improve Japan’s allocative efficiency and boost productivity.

    Japan’s labor market is expected to witness a significant transformation driven by population aging and advances in artificial intelligence (AI). Japan is aging rapidly—a trend that is expected to continue over coming decades—and has been at the forefront in labor-saving automation to alleviate labor shortages. Policies can play a crucial role in mitigating the impact of aging on labor supply and facilitating mobility needed to benefit from AI adoption:

    • Thanks to government efforts, Japan’s seniors already have a relatively high labor force participation rate compared to other OECD countries. But policy frictions such as an income threshold that triggers a loss of pension benefits may be inducing seniors to work fewer hours than they otherwise would.
    • Japan has made significant progress in increasing female labor force participation during the last decade. Further supporting women’s ability to fully participate in the labor force will require continuing to expand childcare resources and facilitate fathers’ contribution to home/childcare, and further encouraging the use of flexible working arrangements.
    • Training programs are crucial to enhance the complementarity of AI with the labor force and improve the productivity of senior workers.
    • Improving mobility and reducing barriers to job switching are essential to address labor shortages due to aging and the potential job displacement impact of AI. Subsidized training programs that are targeted to in-demand occupations could help reskill and upskill the labor force and facilitate occupational mobility.

    While AI may help to address some of Japan’s labor shortages, and since upskilling/reskilling the labor force takes time, attracting foreign workers could help alleviate labor shortages. Government programs have led to a tripling of the number of foreign workers in Japan during the past decade. However, foreigners continue to play a much smaller role in the Japanese labor force than they do in other OECD economies.

    Similar to other G20 economies, Japan has increased its adoption of industrial policies. Japan’s industrial policies aim to advance several objectives, including economic security, resilience, inclusive growth, and green and digital transformation (the latter including support for the semiconductor industry). Under this umbrella, multi-year envelopes of 20 trillion and 10 trillion yen have been identified for green transformation and the semiconductor/AI industries, respectively. Given Japan’s limited fiscal space and the unclear growth impact of past IP, industrial policy schemes should be subjected to a comprehensive cost-benefit analysis. Going forward, IP should be narrowly targeted to specific objectives when externalities or market failures exist, to minimize distortions. It should avoid favoring domestic products over imports or creating incentives that lead to a fragmentation of the global system for trade and investment, in line with Japan’s commitment to multilateral economic cooperation.

    Japan remains committed to green transformation, and further progress on policies would enable reaching its targets. Notable ongoing efforts—such as the issuance of climate transition bonds to finance government green investment, and the implementation of carbon credits trading—are in line with international practices and previous staff advice. Nevertheless, without further policy changes, Japan is likely to fall short of its targets. To help meet its green commitments while boosting growth, a combination of policies is needed. Options include the removal of energy subsidies, the expansion of carbon pricing, feebates and tradable performance standards. Carbon pricing would need to be accompanied by targeted cash transfers to protect the vulnerable from adverse distributional effects.

    The IMF team would like to thank the authorities and other interlocutors in Japan for the frank and open discussions.

    Table 1. Japan: Selected Economic Indicators, 2021-26

    Nominal GDP: US$ 4,213 billion (2023)

    GDP per capita: US$ 33,849 (2023)

    Population: 124 million (2023)

    Quota: SDR 30.8 billion (2023)

    2021

    2022

    2023

    2024

    2025

    2026

    Est.

    Proj.

    (In percent change)

    Growth

      Real GDP

    2.7

    0.9

    1.5

    -0.2

    1.1

    0.8

      Domestic demand

    1.7

    1.5

    0.4

    0.2

    1.2

    0.8

        Private consumption  

    0.7

    2.1

    0.8

    -0.3

    0.9

    0.6

        Gross Private Fixed Investment

    1.3

    1.6

    1.5

    0.6

    1.1

    0.8

        Business investment  

    1.7

    2.6

    1.5

    1.3

    1.2

    0.9

        Residential investment  

    -0.3

    -2.7

    1.5

    -2.4

    0.8

    0.4

        Government consumption   

    3.4

    1.4

    -0.3

    1.0

    1.3

    1.2

        Public investment   

    -2.6

    -8.3

    1.5

    -1.2

    0.3

    0.0

        Stockbuilding

    0.5

    0.2

    -0.3

    0.1

    0.1

    0.0

      Net exports

    1.0

    -0.5

    1.0

    -0.2

    0.0

    0.1

        Exports of goods and services

    11.9

    5.5

    3.0

    0.7

    2.9

    2.0

        Imports of goods and services

    5.2

    8.3

    -1.5

    2.0

    2.9

    1.8

    Output Gap

    -1.6

    -0.9

    0.2

    0.1

    0.2

    0.0

    (In percent change, period average)

    Inflation

      Headline CPI

    -0.2

    2.5

    3.2

    2.8

    2.4

    2.0

      GDP deflator  

    -0.2

    0.4

    4.1

    3.0

    2.3

    2.1

    (In percent of GDP)

    Government

        Revenue  

    36.3

    37.5

    36.8

    36.9

    36.8

    36.8

        Expenditure  

    42.5

    41.8

    39.1

    39.4

    39.4

    39.7

        Overall Balance  

    -6.2

    -4.3

    -2.3

    -2.5

    -2.6

    -2.9

        Primary balance

    -5.6

    -3.9

    -2.1

    -2.1

    -2.2

    -2.2

    Structural primary balance

    -4.9

    -3.8

    -2.2

    -2.1

    -2.3

    -2.2

        Public debt, gross

    253.7

    248.3

    240.0

        237.0

    232.7

    230.0

    (In percent change, end-of-period)

    Macro-financial

    Base money

    8.5

    -5.6

    6.4

    -1.0

    2.2

    2.2

    Broad money

    2.9

    2.3

    2.2

    1.1

    2.1

    2.1

    Credit to the private sector

    2.3

    3.6

    4.2

    3.1

    1.8

    1.6

    Non-financial corporate debt in percent of GDP

    157.1

    161.2

    156.7

    159.8

    160.2

    161.3

    (In percent)

    Interest rate   

      Overnight call rate, uncollateralized (end-of-period)

    0.0

    0.0

    0.0

    …

    …

    …

      10-year JGB yield (end-of-period)

    0.1

    0.4

    0.6

    …

    …

    …

     

     

     

     

     

     

     

    (In billions of USD)

    Balance of payments    

    Current account balance   

    196.2

    89.9

    158.5

    179.4

    166.7

    162.2

            Percent of GDP   

    3.9

    2.1

    3.8

    4.5

    4.1

    3.8

        Trade balance

    16.4

    -115.8

    -48.2

    -31.5

    -26.2

    -24.1

            Percent of GDP   

    0.3

    -2.7

    -1.1

    -0.8

    -0.6

    -0.6

          Exports of goods, f.o.b.  

    749.2

    752.5

    713.7

    691.6

    705.5

    720.9

          Imports of goods, f.o.b.  

    732.7

    868.3

    761.9

    723.1

    731.7

    745.0

    Energy imports

    127.8

    195.5

    152.9

    145.2

    135.9

    122.5

    (In percent of GDP)

    FDI, net

    3.5

    3.0

    4.1

    4.8

    4.2

    4.1

    Portfolio Investment

    -3.9

    -3.3

    4.7

    5.5

    0.9

    0.9

    (In billions of USD)

    Change in reserves   

    62.8

    -47.4

    29.8

    -74.7

    11.5

    11.5

    Total reserves minus gold (in billions of US$)             

    1356.2

    1178.3

    1238.5

    …

    …

    …

    (In units, period average)

    Exchange rates                

      Yen/dollar rate    

    109.8

    131.5

    140.5

    …

    …

    …

      Yen/euro rate    

    129.9

    138.6

    152.0

    …

    …

    …

      Real effective exchange rate (ULC-based, 2010=100)       

    73.5

    61.8

    56.1

    …

    …

    …

      Real effective exchange rate (CPI-based, 2010=100)

    70.7

    61.0

    58.1

    …

    …

    …

     

    (In percent)

    Demographic Indicators

    Population Growth

    -0.3

    -0.3

    -0.5

    -0.5

    -0.5

    -0.5

    Old-age dependency

    48.7

    48.8

    48.9

    49.2

    49.7

    50.1

    Sources: Haver Analytics; OECD; Japanese authorities; and IMF staff estimates and projections.
                       

    [1] An IMF mission, led by Nada Choueiri and including Kohei Asao, Yan Carrière-Swallow, Andrea Deghi, Shujaat Khan, Gene Kindberg-Hanlon, Haruki Seitani, Danila Smirnov and Ara Stepanyan, conducted meetings in Japan during January 23-February 6, 2025. The mission met with senior officials at the Ministry of Finance, Bank of Japan, and other ministries and government agencies, along with representatives of labor unions, the business community, financial sector, and academics.

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