Category: Machine Learning

  • MIL-OSI United Kingdom: Report 02/2025: Derailment of a passenger train at Grange-over-Sands

    Source: United Kingdom – Executive Government & Departments

    RAIB has today released its report into a derailment of a passenger train at Grange-over-Sands, Cumbria, 22 March 2024.

    The rear of the train following the derailment.

    R022025_250128_Grange-over-Sands

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    Summary

    At around 06:05 on 22 March 2024, a passenger train travelling at 56 mph (90 km/h) derailed on the approach to Grange-over-Sands station. The derailment occurred because a void had opened in the embankment on which the train was travelling, leading to the rails under the train losing support. The train was carrying four train crew and four passengers when it derailed. Nobody was injured, but significant damage was caused to both the train and the railway infrastructure.

    RAIB’s investigation found that the void had been created because water had dislodged embankment material and carried it away. The water came from a pipe partially buried beneath the railway, which had been damaged during routine maintenance around 2 days before the derailment.

    The damage to the pipe had been reported immediately to the railway control room by the maintenance staff involved. However, as a result of ineffective communications, no action was taken to stop the consequent leak. The pipe had been installed by Network Rail in 2016 as a temporary measure to assist in managing flood water in the surrounding areas, but on-call engineering staff were unaware that it was in use and carrying water at the time it was damaged.

    Underlying factors to the accident were that those responsible for managing flood water at this location had not done so effectively, leading to the prolonged need to rely on temporary pumping arrangements. RAIB also identified that staffing levels at Network Rail’s Carnforth maintenance delivery unit did not provide sufficient resilience and had allowed non-compliance with the standards relating to the management of tamping to become normalised. In addition, Network Rail had allowed a temporary pumping arrangement to become permanent without applying the relevant asset management procedures.

    Recommendations

    As a result of its investigation, RAIB has made five recommendations. The first three recommendations are made to Network Rail. The first of these aims to reduce the risk associated with temporary drainage solutions which remain in place for longer than anticipated. The second asks Network Rail to review how it can improve the ability of tamper operators to detect buried services. The third aims to reduce the likelihood that buried services are struck during maintenance by ensuring staffing levels are adequate to comply with Network Rail’s own procedures. The fourth recommendation is made to the Environment Agency, and other local stakeholders, and aims to encourage timely decision-making in relation to the future of this area so that the management of flood water does not manifest in another risk to the railway. The final recommendation is addressed to Eversholt Rail Leasing Limited, the owner of the train involved, and aims to reduce the risk of a derailed train being struck by a train on the adjacent line due to a failure of communications and warning systems.

    Additionally, RAIB has identified three learning points. The first of these reminds track workers of the importance of completing required site visits ahead of planned work to mark up obstructions. The second reminds staff of the importance of being readily contactable when on call, and the final learning point encourages railway controllers to escalate issues where the first line on-call staff are not available.

    Andrew Hall, Chief Inspector of Rail Accidents said:

    Derailments of passenger trains are thankfully rare. The elements that came together and led to the derailment at Grange-over-Sands include some factors that have been seen in previous RAIB investigations. In this case Victorian infrastructure, increasing rainfall, a known flood water management problem which multiple parties had not fully resolved over years, ineffective communication and a short-term fix effectively becoming the permanent solution, all played a part. As the railway’s infrastructure will continue to age, and given the challenges of climate change, the importance of avoiding the other factors is ever more vital if such derailments are to remain a rarity.

    Notes to editors

    1. The sole purpose of RAIB investigations is to prevent future accidents and incidents and improve railway safety. RAIB does not establish blame, liability or carry out prosecutions.

    2. RAIB operates, as far as possible, in an open and transparent manner. While our investigations are completely independent of the railway industry, we do maintain close liaison with railway companies and if we discover matters that may affect the safety of the railway, we make sure that information about them is circulated to the right people as soon as possible, and certainly long before publication of our final report.

    3. For media enquiries, please call 01932 440015.

    Newsdate: 28 January 2025

    Updates to this page

    Published 28 January 2025

    MIL OSI United Kingdom

  • MIL-OSI Banking: Press Conference “Risks in BaFin’s Focus”, 28 January 2025

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    Check against delivery.

    A warm welcome from me too!

    The environment facing the German financial sector in 2025 will be challenging.

    At the moment, there is no single key risk. The situation is multifaceted and complex. Companies are having to deal with a diverse range of risks. Risks that are sometimes closely interconnected. Many of these risks can have immediate impacts, while some will only materialise in the long term. This situation is described in the fourth edition of our “Risks in BaFin’s Focus”, which we are publishing today. The picture is also very dynamic. While some risks remain consistently high – for example the strained situation on the commercial real estate markets – the risk situation in market-driven areas can change rapidly. Since going to press, we have seen a kind of party mood develop in certain parts of the financial markets. And as we all know: the bigger the party, the bigger the hangover.

    Over the next few minutes, I would like to discuss three topics. These three topics are very different, but they all make one thing clear: some of the challenges we are facing today are the result of new risk drivers. In other words, they are the result of developments that cannot be precisely gauged – in part because we lack relevant historical experience. This makes risk management more difficult. For the supervised entities, but also for us. The trend arrows for the risks I will address today are pointing in the wrong direction, symbolising a growing risk.

    The first topic I would like to address today is sustainability. Or, to be more precise: the physical risks of climate change. Still fresh in all our minds are the images of the devastating fires around Los Angeles. A tragic disaster with thousands of destroyed buildings, tens of thousands of people evacuated and more than two dozen fatalities. It is estimated that the potential property damage and economic losses could be as high as 150 billion US dollars. This will of course have an impact on the financial sector, especially on insurers’ loss amounts. Rating agencies estimate that in Europe, too, more than 30 percent of reinsurers annual loss budget for natural disasters could already be used up – and that within the first few days of the year.

    For disasters of this kind to occur, many factors have to come together. While regional weather patterns undoubtedly play a role, experts tell us that climate change is increasingly creating the conditions for these kinds of catastrophic fires. Conditions such as long periods of drought.

    Companies in the financial sector must therefore continue to address the physical risks of climate change – and they need to address these risks more intensively. That is to say, the specific effects of global warming, such as extreme weather events like droughts and flooding. Of course, the transition risks posed by the journey to a sustainable, low-carbon economy will also remain relevant.

    But I would say that in comparison, regulation and supervision have not paid sufficient attention to physical risks up to now. At BaFin, we will be putting a particular focus on these risks in 2025 – climate change is forging ahead. According to Copernicus, the EU’s Earth observation programme, the global average temperature in 2024 was more than 1.5 degrees above pre-industrial levels for the first time. Physical risks, which will have an impact on banks’ loan portfolios or insurers’ loss amounts, are continuing to rise. Think of the Spanish region of Valencia, where severe flooding last autumn caused extensive damage. According to estimates, the ratios of non-performing loans in Spanish banks’ portfolios will rise in the coming quarters.

    We are therefore taking a close look at how physical risks are addressed at the companies we supervise – such as banks and insurers that are particularly at risk due to extreme weather, supply chain dependency or concentrated credit and market risks. We have found that the companies have generally made progress in managing their sustainability risks, but there is still room for improvement.

    For example, when it comes to integrating and processing data on physical climate risks. This is important for banks and insurers to be able to assess individual natural hazards. And that means they need to draw on several sources of information. We have found that many companies lack important data. In the case of banks, this is often customer-related location data – combined with an allocation of the physical risks to an exact address, such as possible flooding due to heavy rain. Insurers have gaps in their data, for example, in terms of public flood protection measures or the building regulations of the respective cities and municipalities. It is our impression that banks, in particular, are still in the early stages in this regard. They are currently focusing on building up their data basis.

    This is very important work. Supervised companies need to manage the increasing physical risks of climate change. Take regional banks, for example. If an extreme weather event were to occur in their home region, many of their customers could be affected at the same time. Not to mention numerous employees. This geographical concentration can be problematic. It can also particularly affect insurers and banks with specialised business models, for example in agriculture and forestry. The situation is made even more difficult by the sometimes very close links between banks and insurers through risk transfers. Just think of real estate loans and the protection of properties against natural disasters. These risks in particular are becoming increasingly difficult to assess: how likely are they to occur? How severe could potential damage be? And: will the property even be insurable for a reasonable price in future? In several areas of some US states, such as Florida or California, this is no longer a possibility . Climate change is one reason for this. Such insurance gaps not only raise political and social questions, but also questions about the financial viability and recoverability of real estate loans.

    It is important to realise that historical data is only of limited value – the risk situation is changing rapidly. Depending on the scenario one takes , one neighbouring country might be almost completely under water by the end of the century. It also seems plausible to me that climate change could become a driver of another highly charged geopolitical issue: migration.

    For BaFin, one thing is certain: supervised companies must continue to address in detail the physical risks of climate change and, especially, integrate these risks into all areas of their risk management. We should not wait for the next disaster. A forward-looking approach will not only protect the solvency of insurers and banks, but also be able to drive prevention measures forward. If risks are properly priced, it is more likely that they will be mitigated. The more trouble we have getting climate change under control, the more we will have to accept that physical risks are increasing and that prevention and risk avoidance are becoming more and more essential.

    The second topic I would like to address today is the risk arising from the profound technological change taking place in the financial industry. Here, too, historical experience is not particularly helpful. New technologies – such as generative artificial intelligence or, in future, quantum computing – are driving the transformation of the industry forward. These technologies have tremendous potential. For companies. And for customers. But they also entail very significant risks.

    At the top of the list are potential cyber incidents or major IT failures. Large banks, insurers and clearing houses play an extremely important role and have highly sensitive and therefore valuable data. This makes them particularly susceptible to cyber incidents. Data presented by the International Monetary Fund (IMF) also confirms this. According to the IMF report, almost a fifth of all global cyber incidents over the past 20 years affected companies in the financial sector. The damage amounts to almost 12 billion US dollars.

    The threat of cyber incidents is globally very high. And it is continuing to rise. This is also due to the tense geopolitical situation. Many companies in the financial sector and their key service providers form part of the critical infrastructure. They are thus an attractive target for state-initiated attacks. But the threat is also rising due to the many new technological possibilities.

    For example, through generative AI. More and more companies in the financial sector are using generative AI or testing its use. And of course, criminals are also using such technologies – to develop new attack methods or malicious code, for example. High quality phishing messages can be created quickly using AI, which makes it much more difficult to identify fraudulent messages.

    Many companies are aware of all these risks and have invested in their IT security. That’s good news. But we cannot become complacent. It is important to us that companies continuously monitor current developments and threats. That they adapt their security measures. And that they prepare for crisis situations. They are currently well positioned to do so: the financial institutions reported strong earnings in 2024. They should use these earnings to invest further in their IT security. This is what we expect of them. It is also what their customers expect of them.

    It goes without saying that our work as a supervisory authority is increasingly being defined by the risks arising from technological change. Just to give one example: in the first three quarters of 2024, we received 258 reports of IT incidents in payment services. This is a significant increase compared to previous years. In two out of three incidents, the cause was not at a supervised financial institution, but at one of its service providers.

    We are also continuing to identify numerous serious IT shortcomings in our IT inspections at supervised companies.

    This is why the topics of IT security, cybersecurity and outsourcing remain high on our agenda. This year, we are planning more than 30 IT inspections, including follow-up inspections and inspections focusing on IT security.

    We will also be more closely monitoring multi-client service providers that offer services to a significant extent in the European financial market, service providers that this market also relies on. In addition, we are preparing to participate in joint examination teams led by the European Supervisory Authorities; these teams monitor critical IT service providers. Among others, the focus here will be on cloud hyperscalers.

    We need strong and effective supervision in the IT sector. At the same time, we need to keep an eye on emerging technologies. Technologies that are not yet available today, but which we know could have a very significant impact on the future of the financial sector. One such technology is quantum computing.

    Some people might argue that there aren’t yet any mass-produced quantum computers. Maybe so. There are still a few technological hurdles to overcome. But research and development are making rapid progress. You may remember that a few weeks ago, in December, Google presented a new quantum chip. In less than five minutes, this chip performed a calculation that would take one of today’s fastest supercomputers 10 quadrillion years. That is a one with 25 zeros. An unimaginable number that far exceeds the age of the universe.

    We don’t yet know when powerful quantum computers will be widely available. But there is much to suggest that we will see a breakthrough happen.

    Companies in the financial sector need to get ready for this development. They need to get ready today.

    Why do I emphasise this so strongly? Because quantum computers will be able to overcome conventional encryption technologies. Current cryptography methods such as RSA1 , which form the basis of IT security in the financial sector today, will no longer be an obstacle for quantum computers. This will pose a massive threat to data security in the financial industry. The cryptography currently used for the largest cryptoassets is probably not quantum-resistant either. Now, please be aware that this is not only some future scenario we are talking about. This risk is already relevant today. Data can already be stolen and stored today, to be decrypted later.

    Companies must not underestimate the risks that this poses. They must take protective measures – now. Especially for security-relevant data designed to have long-term validity. This is the only way they can protect this data in the long term.

    This may remind some of you, at least the older ones among us, of the millennium bug. That was a major issue at the end of the 90s. And the situation is similar today. Only this time we don’t have a target date we can work towards.

    So what exactly needs to be done? Companies must identify the data that could be jeopardised by quantum computing. And then develop a protection plan that takes existing technical possibilities and standards for post-quantum cryptography into account. A protection plan must of course be flexible by design. To ensure that IT risk management can react to future developments. And to ensure that it is in a position to implement future safety recommendations and standards.

    The fact that quantum computing is jeopardising data security is nothing new. The BSI pointed this out a good five years ago. The German government has also addressed the topic in its cybersecurity strategy. So today, I would like to emphasise once again: the time to act is now. When the first powerful quantum computers are for sale, it will be too late.

    Ladies and gentlemen,

    In addition to the physical risks associated with climate change and the risks arising from technological changes in the financial sector, we also need to talk about the current economic situation – and the risks that this situation is giving rise to.

    As you all know, the German economy is stagnating. Last year, GDP fell by 0.2%. For 2025, the German Council of Economic Experts (Sachverständigenrat) is expecting slight economic growth of 0.4%. This shows that the economic situation remains difficult.

    Geopolitical risks are currently a key factor clouding the growth prospects of the German economy. This is because the German financial system is highly susceptible to geopolitical shocks. And the risk of such shocks is currently high. For example in the area of trade policy. We are seeing a global trend towards more protectionism. In particular, an intensification of the trade dispute between the US and China would have considerable consequences for the global economy, but especially for Europe. US import tariffs on German and European goods would also have direct impacts on the German economy.

    The number of corporate insolvencies in Germany rose significantly in 2024 – by 16.8% compared to the previous year. As a consequence, the risk that companies will partially or completely default on their loans also rose. The ratio of non-performing loans at German banks rose sharply in the third quarter of 2023 and has continued to increase since then. The aggregate NPL ratio increased from 1.38% to 1.76% in the third quarter of 2024 compared with the same period in 2023. We have seen this trend in both large and less significant institutions. And we expect the proportion of problematic loans to continue rising – in part due to the weak economy. In all probability, the impact of higher value adjustments will also become evident in institutions’ earnings in the foreseeable future. Banks’ loan books are a reflection of the health of the economy.

    Loan loss provisions at German banks likewise continued to rise, but have remained at a low level. In the third quarter of 2024, the loan loss provision ratio, i.e. the ratio of cumulative loan loss provisions to the loan portfolio, was 1.41%.

    The increased credit default risks are not only relevant for banks. Insurers also have to deal with these risks. After all, insurers also grant loans to companies. And they invest in private debt funds.

    BaFin will be taking a particularly close look at the risks arising from corporate loan defaults in 2025 – at banks and at insurance companies. In particular, we will be keeping a close eye on institutions that are heavily involved in sectors that could be significantly affected by an economic downturn or by geopolitical tensions. We will also be monitoring the investment behaviour of insurers, with a particular focus on the risk management of alternative investments such as private debt.

    Macroprudential measures also remain important for the resilience of the German financial sector. These measures include instruments such as the countercyclical capital buffer, which currently stands at 0.75% of domestic risk exposure. In December 2024, the Financial Stability Committee assessed this level and once again deemed it appropriate.

    Ladies and gentlemen,

    As you can see, the financial sector is operating in a very challenging environment. This is in part because, for many risk drivers, we cannot draw on past experience. Physical climate risks, quantum computing, deglobalisation, geopolitical upheavals – the proverbial look in the rear-view mirror doesn’t help much when it comes to such developments. This makes it all the more important for companies in the financial sector to manage their risks wisely and to think in terms of scenarios. They must ask themselves: What can the risk situation mean for us? Where are we vulnerable? And how can we prepare for this? And, of course, they need to be highly resilient to potential shocks. More than anything else, this means keeping well-stocked capital and liquidity buffers. That is what we expect of them – and we will be paying particularly close attention to this over the course of the year.

    Now I look forward to your questions!

    MIL OSI Global Banks

  • MIL-OSI: Tosyalı Launches one of the World’s Largest Self-Consumption Solar Power Plant Projects

    Source: GlobeNewswire (MIL-OSI)

    DAVOS, Switzerland, Jan. 28, 2025 (GLOBE NEWSWIRE) — As one of the leading global green steel producers, with 15 million tons/year crude steel capacity, Tosyalı continues to expand its efforts to produce its energy. Tosyalı invests in cutting-edge technology, artificial intelligence, and renewable and clean energy sources, adhering to the principle of eco-efficiency.

    Tosyalı is making significant strides toward becoming a fully integrated green steel producer. Tosyalı achieved a global milestone by reaching 235 MW of installed capacity with its SPP project, which covered all its facilities, making it the holder of the world’s largest rooftop solar power installation.

    Tosyalı is embarking on an even larger project, and the company has signed an agreement with GE Vernova and its regional provider Inogen for the first 120 MWp of the 1,2 GW self-consumption SPP project. The first project is scheduled to become operational in 2025, while the 1,2 GW capacity project is targeted for completion in 2027.

    Fuat Tosyalı, Chairman of Tosyalı Holding, announced at Davos 2025: “With this investment, Tosyalı will generate approximately 50% of its self-consumption from solar energy.”

    During his interview at the World Economic Forum, Fuat Tosyalı highlighted, “We continue to invest in advanced clean energy technologies under our vision of ‘Tosyalı for a sustainable life.’ We have taken the first step toward one of the world’s largest self-consumption SPP projects with a capacity of 1,2 GW by initiating the first project in Osmaniye. We are happy to collaborate with GE Vernova, one of the world’s leading companies in this field, and Inogen, Turkey’s leading EPC contractor. These panels will be deployed across SPP sites in eight provinces. By doing so, we aim to meet approximately 50% of our energy needs from solar energy, making us stronger and more independent in energy usage and strengthening our position among the world’s leading green steel producers.”

    Tosyalı’s 1,2 GW project stands out as one of the largest self-consumption-focused projects carried out under a single umbrella in Turkey and worldwide.

    Contact:

    Emre Ersezer

    eersezer@medyaevi.com.tr

    Photo accompanying the announcement: https://www.globenewswire.com/NewsRoom/AttachmentNg/17372b3b-1aff-43c0-ab66-2bc8b0b2a007

    The MIL Network

  • MIL-OSI Europe: January 2025 euro area bank lending survey

    Source: European Central Bank

    28 January 2025

    • Credit standards tightened for firms in the fourth quarter of 2024, driven by higher perceived risks and lower risk tolerance
    • Credit standards remained unchanged for loans to households for house purchase but continued to tighten for consumer credit
    • Housing loan demand continued to rebound strongly, while demand for firm loans remained weak

    According to the January 2025 bank lending survey (BLS), euro area banks reported a renewed net tightening of credit standards – banks’ internal guidelines or loan approval criteria – for loans or credit lines to enterprises in the fourth quarter of 2024 (net percentage of banks of 7%; Chart 1). Banks also reported broadly unchanged credit standards for loans to households for house purchase (net percentage of 1%), whereas credit standards for consumer credit and other lending to households tightened further (net percentage of 6%). For firms, the net tightening followed the unchanged credit standards seen in the third quarter and was higher than banks had expected in the previous survey round. It was driven by higher perceived risks related to the economic outlook, the industry-and-firm-specific situation and banks’ lower risk tolerance. For loans to households for house purchase, the stability of credit standards, after three quarters of easing, was in contrast to the strong net easing that banks had expected in the previous quarter. Credit standards tightened further for consumer credit, mainly owing to higher perceived risks. For the first quarter of 2025, banks expect a further net tightening of credit standards for loans to firms and consumer credit, and a small net tightening for loans to households for house purchase.

    Banks’ overall terms and conditions – the actual terms and conditions agreed in loan contracts – remained broadly unchanged for loans to firms and consumer credit, but eased strongly for housing loans. For loans to firms, the contribution to easing from lower lending rates and narrower margins on average loans was broadly offset by stricter collateral requirements and other terms and conditions, such as loan covenants, to compensate for the higher perceived risks. For housing loans, lower lending rates and margins on average loans were the main drivers of the net easing. For consumer credit, lending rates had an easing impact, offset by widening loan margins.

    In the fourth quarter of 2024, demand from firms for loans or the drawing of credit lines increased slightly (Chart 2), while remaining weak overall. Loan demand from firms was supported mainly by declining interest rates, with fixed investment having a still-muted impact after its small positive contribution in the previous quarter. Net demand for housing loans continued to increase strongly, driven mainly by declining interest rates, substantiating still further the signs of a rebound from the strong declines seen in housing loan demand over previous years. Demand for consumer credit and other lending to households increased slightly, supported by declining interest rates, whereas spending on durable goods and consumer confidence, among other factors, dampened demand for consumer credit. In the first quarter of 2025, banks expect loan demand to remain broadly unchanged for firms and to increase further for households, especially for housing loans.

    Euro area banks’ access to funding worsened somewhat for retail funding, money markets and debt securities in the fourth quarter of 2024. In the first quarter of 2025, banks expect access to funding to remain broadly unchanged across all market segments.

    In response to the new regulatory or supervisory requirements in 2024, euro area banks reported a net increase in their required capital as well as increases in their liquid and risk-weighted assets. Banks also reported a net tightening impact on credit standards stemming from the requirements, especially for loans to firms, with further net tightening expected in 2025.

    Euro area banks reported that non-performing loan ratios and other indicators of credit quality had a net tightening impact on their credit standards for loans to firms and consumer credit in the second half of 2024, the largest since the height of the pandemic and the period of balance sheet clean-up in 2014-17. By contrast, for housing loans credit quality had a neutral impact on bank lending conditions. Banks expect these developments to continue in the first half of 2025.

    Banks’ credit standards tightened further in all main economic sectors in the second half of 2024, especially in commercial real estate (CRE), wholesale and retail trade, construction and energy-intensive manufacturing. Banks also reported a net decrease in loan demand in CRE, construction and energy-intensive manufacturing. For the first half of 2025, banks expect a further net tightening of credit standards in most economic sectors, except for services. They expect muted loan demand in all sectors but residential real estate, for which they expect a moderate increase.

    Banks reported that the changes in excess liquidity held with the Eurosystem had a neutral impact on bank lending conditions in the second half of 2024. They expect similar effects in the first half of 2025.

    The quarterly BLS was developed by the Eurosystem to improve its understanding of bank lending behaviour in the euro area. The results reported in the January 2025 survey relate to changes observed in the fourth quarter of 2024 and changes expected in the first quarter of 2025, unless otherwise indicated. The January 2025 survey round was conducted between 10 December 2024 and 7 January 2025. A total of 155 banks were surveyed in this round, with a response rate of 99%.

    Chart 1

    Changes in credit standards for loans or credit lines to enterprises, and contributing factors

    (net percentages of banks reporting a tightening of credit standards, and contributing factors)

    Source: ECB (BLS).

    Notes: Net percentages are defined as the difference between the sum of the percentages of banks responding “tightened considerably” and “tightened somewhat” and the sum of the percentages of banks responding “eased somewhat” and “eased considerably”. The net percentages for “Other factors” refer to an average of the further factors which were mentioned by banks as having contributed to changes in credit standards.

    Chart 2

    Changes in demand for loans or credit lines to enterprises, and contributing factors

    (net percentages of banks reporting an increase in demand, and contributing factors)

    Source: ECB (BLS).

    Notes: Net percentages for the questions on demand for loans are defined as the difference between the sum of the percentages of banks responding “increased considerably” and “increased somewhat” and the sum of the percentages of banks responding “decreased somewhat” and “decreased considerably”. The net percentages for “Other factors” refer to an average of the further factors which were mentioned by banks as having contributed to changes in loan demand.

    For media queries, please contact William Lelieveldt, tel.: +49 69 1344 7316.

    Notes

    MIL OSI Europe News

  • MIL-OSI Russia: Triage system, digital X-ray and 11 operating rooms: how the flagship center of City Clinical Hospital No. 1 named after N.I. Pirogov is organized

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    The triage system, modern equipment, the principle of a digital clinic and 11 multidisciplinary operating rooms – doctors flagship center of the City Clinical Hospital (CCH) No. 1 named after N.I. Pirogov provide emergency and planned care to patients with a wide range of illnesses. During the first month of operation, the medical facility received almost six thousand people, its specialists performed hundreds of high-tech operations and thousands of diagnostic studies.

    How the new flagship is designed and equipped, what are the advantages of the “doctor to patient” principle, how advanced equipment helps save lives, and how much the Moscow healthcare system has improved thanks to the opening of the fifth emergency care center – in a report by mos.ru.

    Diagnostics and treatment in one place

    Flagship center of City Clinical Hospital No. 1 named after N.I. Pirogov opened December 20, 2024 on Leninsky Prospekt (building 10, block 7). The seven-story building is located on the territory of the First City Hospital, one of the oldest and largest clinics in the capital.

    One of the 27 buildings of the medical facility was completely reconstructed over the course of three years to become the new flagship; it is easy to find by the signs and the blue sign with the logo of the capital city. Department of Health— the letter M enclosed in a heart. Heated overground walkways connect the building with neighboring buildings.

    The center’s patients undergo a full diagnosis and, if necessary, undergo surgery, followed by recovery in intensive care and hospital treatment, as indicated.

    “Our flagship center represents almost all medical specialties: surgery, traumatology, ophthalmology, otolaryngology, gynecology, urology and others. The staff consists of 350 people, including academicians and doctors of science. To equip the center, we purchased about 2.8 thousand units of medical equipment and furniture, including an angiographic system, a magnetic resonance imaging scanner, a whole-body X-ray computed tomography system and a mobile C-arm X-ray machine. After providing the necessary assistance, patients are either discharged for outpatient observation or sent to inpatient departments for further treatment,” says Daria Tuul, head of the emergency medical care center of City Clinical Hospital No. 1 named after N.I. Pirogov.

    Red Stream for Emergency Patients

    The flagship center of City Clinical Hospital No. 1 named after N.I. Pirogov meets modern medical standards. In the lobby and emergency department there are soft chairs and sofas, boxes for patients’ personal belongings, water coolers and coffee machines, snow-white calla lilies bloom in wooden tubs. Navigation stripes are applied to the floor – red, yellow and green, showing the directions of the corresponding flows, on the walls – illuminated signs and large screens for educational videos. The doors open at the touch of a button.

    To the right of the main entrance is the emergency medical care department, where patients are brought by ambulances. In a spacious heated vestibule, patients are transferred to gurneys. Red category patients who require urgent care are taken to the anti-shock room, where a team of resuscitators is already waiting for them, or to the operating room.

    Such patients are immediately connected to monitors that track temperature, blood pressure, heart rate, lung saturation and other vital signs. Among the modern equipment that the anti-shock room is equipped with are artificial lung ventilation and ultrasound devices, an indirect heart massage system, an anesthesia and respiratory apparatus and an electric cardiac pacemaker.

    “While the ambulance is transporting the patient, the doctors collect the anamnesis and transmit the information to us online, that is, we already understand with what preliminary diagnosis and in what condition the person will be admitted, whether he has chronic diseases, where he was taken from and how long it took. All this information is displayed on the screens in the anti-shock room and the admissions department. According to the regulations, red stream patients should receive assistance in the first minutes after admission,” explains Roman Emelin, an anesthesiologist-resuscitator at the flagship center of City Clinical Hospital No. 1 named after N.I. Pirogov.

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    Operating rooms with telemedicine

    The “heart” of the flagship center is a multidisciplinary operating block located on two floors. For the first time, City Clinical Hospital No. 1 named after N.I. Pirogov has an integrated digital operating room with automated data transfer, visualization and intelligent control. Sensors and high-resolution video cameras allow you to observe the surgical process in great detail on large screens and broadcast it to anywhere in the world, consulting with experts and training colleagues from Moscow and other regions.

    The hybrid operating room allows for simultaneous surgical interventions for various pathologies. Thanks to sophisticated angiographic equipment, doctors can penetrate the finest vessels and simultaneously perform operations on the head, chest, abdomen or limbs without moving patients.

    “In addition to the digital operating room with telemedicine and hybrid, we have nine multi-profile operating rooms equipped with the most modern equipment. Anesthesia and respiratory devices, defibrillators, endoscopic video stands, surgical microscopes, portable scanners, artificial blood circulation devices, X-ray arc and other advanced equipment allow us to perform any surgical interventions,” explains Vadim Konstantinov, a resuscitation specialist and anesthesiologist at the flagship center of City Clinical Hospital No. 1 named after N.I. Pirogov.

    After the operation, patients are transferred to the intensive care unit on the second floor. There are 11 beds, including two single boxes. Patients are under constant medical supervision for 24 hours. Each bed, which is separated by thick screens, has a syringe dispenser, an artificial lung ventilation device, a vital signs monitor, and for greater comfort, heated blankets powered by the electrical network are provided. The department is equipped with defibrillators, electrocardiographs, portable ultrasound machines, and pneumatic mail. Radiologists and endoscopists visit patients, so they leave the ward only to have a CT or MRI scan. After stabilization, patients are transferred to other hospital departments, where they stay until discharge.

    New clinics, artificial intelligence and digitalization: how Moscow healthcare developed in 2024Scientific projects of Moscow medical organizations will receive grant support — SobyaninFirst flagship: how the center of the V.V. Veresaev hospital accepts its first patients

    Bracelets with clips

    The distribution of incoming patients is done using a digital triage system. At two medical stations, their temperature, blood pressure, and pulse are measured, and after a brief anamnesis, they are distributed into yellow and green streams. Each patient receives a bracelet of the corresponding color, and if necessary, clips. Red indicates a risk of falling, yellow indicates the presence of chronic diseases such as diabetes, and turquoise indicates an allergy to medications or food.

    “The red line takes patients to the anti-shock ward, and the yellow and green lines take them to the examination rooms, which are located on the first floor. There are seven of them, each with a surgeon, traumatologist, neurosurgeon, ophthalmologist, neurologist, otolaryngologist, maxillofacial surgeon, urologist and gynecologist. The center has all the latest diagnostic equipment: a CT scanner, digital X-ray, expert-class ultrasound machines, vital function monitors,” says Marat Magomedov, deputy chief physician for emergency care at the flagship center of City Clinical Hospital No. 1 named after N.I. Pirogov.

    In addition to the six-bed examination and shock wards, the first floor houses a diagnostic ward, an isolation ward for infectious patients, and five multi-profile operating rooms for emergency interventions, including hybrid and digital ones. The second floor is occupied by six operating rooms for scheduled patients, as well as an intensive care unit with 11 beds. The hospital’s inpatient departments are located from the third to the sixth floors: neurosurgery, two traumatology departments, and cardiovascular surgery. The seventh floor houses a diagnostic complex. The minus first and minus second floors are allocated for technical premises.

    The center provides care on a doctor-to-patient basis. After a quick check-in at the emergency department, further examinations and procedures, except for CT and MRI, are performed at the patient’s bedside. And digitalization provides specialists with online access to patients’ medical records using tablets.

    The doctors are assisted in their work by employees of the capital’s government service centers. They perform administrative functions and also create a comfortable environment for patients and their accompanying relatives.

    Construction of a new clinic in Kommunarka is planned to be completed in 2025Sobyanin spoke about the first year of work of the new centers of the Botkin HospitalTesting, examination stations and interview. How to get the status of “Moscow doctor”From the triage system to the “space” operating room: how the flagship center of the O.M. Filatov Hospital No. 15 is organized

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/149388073/

    MIL OSI Russia News

  • MIL-OSI: 21Shares Adds to its “Core” Suite of Affordable Crypto Exchange-Traded Products with the Launch of the Solana Core Staking ETP (CSOL)

    Source: GlobeNewswire (MIL-OSI)

    ZURICH, 28 January 2025 – 21Shares AG (“21Shares”), one of the world’s largest issuers of crypto exchange traded products (ETPs), today announced the launch of the 21Shares Solana Core Staking ETP (CSOL) on SIX Swiss Exchange. CSOL joins the 21Shares Bitcoin Core ETP (CBTC), the 21Shares Ethereum Core Staking ETP (ETHC) and the 21Shares Crypto Basket 10 Core ETP (HOLDX) as the fourth addition to the 21Shares’ “core” suite, which offers investors exposure to cutting-edge crypto technologies at exceptionally low fees.

    Exchange Product Name Ticker ISIN Fee
    SIX Swiss Exchange 21Shares Solana Core Staking ETP CSOL CH1385084384 0.35%

    Solana is one of the top blockchain networks powering innovation, and – due to its high-speed and low fees – Solana is expected to reach an all-time high in Total Locked Value (TLV) in 2025, with net inflows of $1.2billion in 2024. With transaction costs less than $0.01 and an average of 2,400 transactions per second, Solana’s performance has led to a noticeable market shift that puts the network front and center in 2025. In addition, Solana has proven itself in the traditional finance ecosystem, evidenced by PayPal’s PYUSD stablecoin processing $13 billion as well as partnerships with Visa and Shopify to enable crypto payments. Further, institutional players like Franklin Templeton and Citibank are adopting Solana, underlining its potential to bridge crypto and traditional finance.1  

    “Launched in 2020, Solana emerged as a clear solution to the outdated technology in the blockchain space. The Solana ecosystem evolved quickly, boasting unparalleled speeds and cost efficiency, making transacting on the network essential,” said Mandy Chiu, Head of Financial Product Development at 21Shares. “21Shares launched the world’s first Solana ETP in 2021. With the launch of CSOL, the firm is continuing to leverage its expertise and track record in crypto, product development savvy and operational excellence in order to provide investors with access to Solana, one of the top growing blockchain networks, at an incredibly affordable cost.”

    With a management fee of 0.35%, CSOL offers innovative and cost-efficient exposure to a leading blockchain shaping the future. 100% physically backed, CSOL also benefits from staking rewards, which are seamlessly generated by adding the yield to the investor’s coin entitlement. By integrating staking rewards into 21Shares ETPs, investors enjoy a potential additional income stream without having to keep their assets locked, enhancing overall returns while maintaining exposure to the respective underlying assets. As of 23 January 2025, the average staking yield for Solana was 6.60%.2

    For more details about the 21Shares Solana Core Staking ETP, including the factsheet, please click here.

    Press Contact

    Audrey Belloff, Head of Global Communications, audrey.belloff@21.co

    About 21Shares

    21Shares is one of the world’s first and largest issuers of crypto exchange traded products. We were founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. In 2018, 21Shares listed the world’s first physically-backed crypto ETP, and we have a six-year track-record of creating crypto exchange-traded funds that are listed on some of the biggest, most-liquid securities exchanges globally. In addition to our six-year track record, 21Shares offers investors best-in-class research and unparalleled client service.

    21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com.

    DISCLAIMER

    This document is not an offer to sell or a solicitation of an offer to buy or subscribe for securities of 21Shares AG in any jurisdiction. Neither this document nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever or for any other purpose in any jurisdiction. Nothing in this document should be considered investment advice.

    This document and the information contained herein are not for distribution in or into (directly or indirectly) the United States, Canada, Australia or Japan or any other jurisdiction in which the distribution or release would be unlawful.

    This document does not constitute an offer of securities for sale in or into the United States, Canada, Australia or Japan. The securities of 21Shares AG to which these materials relate have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There will not be a public offering of securities in the United States. Neither the US Securities and Exchange Commission nor any securities regulatory authority of any state or other jurisdiction of the United States has approved or disapproved of an investment in the securities or passed on the accuracy or adequacy of the contents of this presentation. Any representation to the contrary is a criminal offence in the United States.

    Within the United Kingdom, this document is only being distributed to and is only directed at: (i) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”); or (iii) persons who fall within Article 43(2) of the Order, including existing members and creditors of the Company or (iv) any other persons to whom this document can be lawfully distributed in circumstances where section 21(1) of the FSMA does not apply. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

    Exclusively for potential investors in any EEA Member State that has implemented the Prospectus Regulation (EU) 2017/1129 the Issuer’s Base Prospectus (EU) is made available on the Issuer’s website under www.21Shares.com.

    The approval of the Issuer’s Base Prospectus (EU) should not be understood as an endorsement by the SFSA of the securities offered or admitted to trading on a regulated market. Eligible potential investors should read the Issuer’s Base Prospectus (EU) and the relevant Final Terms before making an investment decision in order to understand the potential risks associated with the decision to invest in the securities. You are about to purchase a product that is not simple and may be difficult to understand.

    This document constitutes advertisement within the meaning of the Prospectus Regulation (EU) 2017/1129 and the Swiss Financial Services Act (the “FinSA”) and not a prospectus. The 2024 Base Prospectus of 21Shares AG has been deposited pursuant to article 54(2) FinSA with BX Swiss AG in its function as Swiss prospectus review body within the meaning of article 52 FinSA. The 2024 Base Prospectus and the key information document for any products may be obtained at 21Shares AG’s website (https://21shares.com/ir/prospectus or https://21shares.com/ir/kids).

    ###


    1 Source: 21Shares State of Crypto #13: Market Outlook 2025
    2 Source: Coinbase, as of 23 January 2025

    The MIL Network

  • MIL-OSI Australia: Funding applications available for National Reconciliation and NAIDOC Week events

    Source: Government of Western Australia

    The City is encouraging community groups hosting National Reconciliation and NAIDOC Week events to apply for community funding.

    The Community Funding Program supports local activities, projects and events that benefit the wider community.

    The City has up to $5,925 per grant for incorporated associations hosting National Reconciliation Week (27 May-3 June) and NAIDOC Week (6-13 July) activities and events.

    Mayor Linda Aitken said she encouraged community groups and sporting clubs to apply for the funding to support events in the City.

    “This program supports the City’s commitment to continuously working towards improving relationships, opportunities and respect between Aboriginal and Torres Strait Islander peoples and other Australians,” she said.

    “Last year, through our Flagship Funding stream, we supported the Mookaroo Festival held by Ngulla Koort Indigenous Corporation.

    “Over 2,000 people went along and enjoyed a wonderful family day out, with food stalls, performances, storytelling and children’s activities.”

    Funding can also be used to facilitate Welcome to Country acknowledgements at events.

    The National Reconciliation Week 2025 theme is Bridging Now to Next, reflecting the ongoing connection between past, present and future.

    NAIDOC Week’s theme of ‘The Next Generation: Strength, Vision & Legacy,’ celebrates the achievement of the past and bright future ahead.

    Find out more and submit your application at wanneroo.wa.gov.au/communityfunding.

    NAIDOC Week grants are also open via the NAIDOC website and close on 20 February.

    MIL OSI News

  • MIL-OSI China: Tesla, BMW challenge EU tariffs on Chinese EVs

    Source: China State Council Information Office 3

    Tesla and BMW have joined Chinese electric vehicle (EV) manufacturers in challenging the European Union’s (EU) tariffs on Chinese-made EVs, filing cases with the Court of Justice of the European Union (CJEU), according to the court’s website.

    The automakers’ lawsuits follow similar filings last week by Chinese EV manufacturers BYD, Geely, and SAIC, contesting the EU’s additional import tariffs of up to over 35 percent.

    European Commission spokesperson Olof Gill confirmed at a press conference on Monday that the EU is prepared to respond to the case in court.

    Despite strong opposition from industry stakeholders in EU member states, the Commission moved forward with its proposal to impose countervailing tariffs on Chinese EVs in October.

    Under the EU tariff scheme, U.S. automaker Tesla, which manufactures vehicles in China, faces a duty of 7.8 percent after requesting an individual review. BMW, which also produces certain models in China, is subject to a 20.7-percent duty. Tariffs for Chinese manufacturers vary: 17 percent for BYD, 18.8 percent for Geely, and 35.3 percent for SAIC.

    China appealed to the World Trade Organization (WTO) in November last year against the EU’s final ruling on countervailing measures targeting Chinese EVs.

    MIL OSI China News

  • MIL-Evening Report: DeepSeek shatters beliefs about the cost of AI, leaving US tech giants reeling

    Source: The Conversation (Au and NZ) – By Michael J. Davern, Professor of Accounting & Business Information Systems, The University of Melbourne

    Almost A$1 trillion (US$600 billion) was wiped off the value of artificial intelligence microchip maker Nvidia overnight on Monday, when a little-known Chinese start up, DeepSeek, threatened to upend the US tech market.

    While Nvidia suffered the biggest one-day loss in sharemarket history, other tech giants – Microsoft, Alphabet and Amazon, who are investing heavily in competing AI tools including ChatGPT and Gemini – were also hit.

    The rout was caused by investors’ shock at the claimed performance of DeepSeek’s new R1 chatbot. The Chinese AI was reported to be more advanced than its competitors and less expensive to develop.

    DeepSeek R1 has soared, becoming the top free downloaded app on Apple’s app store, as US technology and related stock prices fell dramatically.

    Why tech stocks took a deep dive

    The market was surprised by DeepSeek providing what amounts to cheaper technology but comparable performance.

    This has dramatically changed the market’s expectations of computing power, showing more can be done for less. It has also compromised the competitiveness of the US tech companies’ existing AI products and developments.

    Stock prices are driven by market expectations. The claimed performance of DeepSeek R1 prompted a major revision of expectations about what was technologically possible and about how cheaply AI could be developed and operated.

    Investors have rapidly incorporated the news of a low-cost Chinese AI competitor into stock prices, anticipating this new entrant could disrupt the market and erode the competitive advantage of existing leaders.

    Who is DeepSeek and what is R1?

    DeepSeek was founded in 2023 by Chinese hedge fund High Flyer, which had been exclusively using AI in trading since 2021.

    DeepSeek develops large language models (LLMs) that can underpin chatbots and other AI-based tools. R1 is the latest iteration of DeepSeek’s chatbot and underlying model. It builds on earlier versions of generative AI models developed by DeepSeek, and considerable amounts of data, but is a surprising leap forward in performance and cost.

    CAPTION TO GO HERE.
    Koshiro K/Shutterstock

    Technology investors believe R1 matches or outperforms competitors, including OpenAI’s ChatGPT 4.o1 on numerous benchmarks.

    However, there are some key differences:

    1. The model underlying R1 operates in a much less intensive manner. It is much cheaper to develop and run, requiring less data and computing power.

    2. The training of the model was possible despite the US export ban preventing Chinese companies such as DeepSeek from accessing chips from US companies such as Nvidia. The Biden administration had introduced laws restricting the sale of certain computer chips and machinery to China, in a move intended to block its rival from accessing some of the world’s most advanced technology.

    3. The training data and data uploaded to R1 sit on servers in China. Given concerns about data privacy and intellectual property have already been raised about US-based companies, having data under jurisdiction of the Chinese Communist Party (CCP) is arguably even more concerning.

    4. The chatbot program code is free to download, read and modify, unlike ChatGPT. This is however somewhat a false transparency – what matters more is the underlying model, not the Chatbot code.

    5. R1 is known to censor its responses in line with Chinese Communist Party values.

    The future of AI and tech stocks

    It is unknown whether this crash in price of tech stocks is an irrational panic that will reverse, or whether it simply reflects correct pricing. The future costs and benefits of AI are still uncertain.

    This is both a technological and an economic question.

    In technological terms, it is yet to be seen whether R1 really does require less computing power and less data to train and use.

    Economically, there are potential winners and losers. AI users may win with cheaper access to AI, and LLMs in particular, leading to increased adoption and associated productivity gains. Existing producers such as Nvidia may lose out in what was a market with few real competitors.

    More broadly, society may benefit from less computationally intensive, and therefore more energy-efficient, AI. However, the geopolitical risk of a single country capturing the market, together with concerns about data privacy, intellectual property and censorship may outweigh the benefits.

    Michael J. Davern has previously received funding from CPA Australia for industry research into Artificial Intelligence.

    Matt Pinnuck 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. DeepSeek shatters beliefs about the cost of AI, leaving US tech giants reeling – https://theconversation.com/deepseek-shatters-beliefs-about-the-cost-of-ai-leaving-us-tech-giants-reeling-248424

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Haffner Energy, LanzaJet, and LanzaTech Join Forces to Unlock Alcohol-To-Jet SAF Production from Biomass Residues

    Source: GlobeNewswire (MIL-OSI)

    VITRY-LE-FRANÇOIS, France and CHICAGO, Jan. 28, 2025 (GLOBE NEWSWIRE) —

    Haffner Energy, a leading advanced solid biomass-to-clean fuels solutions provider, LanzaTech, a carbon management company providing a differentiated syngas-to-ethanol solution, and LanzaJet, the leading ethanol-to-jet technology company and fuels producer, announce today they are working together to explore joint biomass-to-Sustainable Aviation Fuel (SAF) projects covering the entire production value chain.

    The three companies are exploring SAF production opportunities, including the development of commercial plants, joint technology licenses, and offtake opportunities as they become available, and funding support and/or investment in specific SAF projects.

    The three companies together demonstrate the type of partnership and technology alignment this industry will need to be successful in meeting the global demands of aviation,” says LanzaJet CEO Jimmy Samartzis. “CirculAir™, the joint product between LanzaJet and LanzaTech, brings together our proprietary technologies to create low-carbon SAF from a variety of feedstocks, including discreet biomass sources. The technology developed by Haffner Energy further opens new opportunities for additional SAF production because it is biomass-agnostic.

    France-based Haffner Energy relies on its 31-years of experience to design, manufacture, supply, license, and operate proprietary disruptive clean fuels solutions using all types of biomass residues wet or dry, including agricultural and municipal waste.

    LanzaJet, a U.S.-based company with operations around the world, has a leading, exclusive, and patented Alcohol-to-Jet (ATJ) technology. LanzaJet is backed by global airport operator group Aéroports de Paris (ADP), British Airways, Airbus, Southwest Airlines and Microsoft, among others. In 2024 LanzaJet was named to the TIME100 Most Influential Companies list, and opened the world’s first commercial-scale ATJ plant in the U.S.

    LanzaTech is a proven leader in commercial-scale carbon management solutions, with operations worldwide that transform waste carbon into valuable raw materials, such as ethanol. Ethanol is the essential input required to produce SAF through the ATJ pathway. LanzaTech’s waste-based ethanol provides a tremendous resource for the scalability of the ATJ pathway and CirculAir™, the initiative unveiled last year by LanzaTech and LanzaJet, formally brings together both companies’ technologies into one integrated solution to take advantage of the immense opportunity in using waste-based feedstocks for SAF production.

    LanzaTech’s extensive experience using synthetic gas (syngas) as a feedstock to produce ethanol coupled with the proven flexibility of Haffner Energy’s proprietary technology to use a wide array of biomass residues to produce syngas, creates a strong foundation upon which to connect LanzaJet’s ATJ technology. The combination of the three companies’ technology unlocks a compelling pipeline of opportunities to develop and build multiple profitable projects together.

    “We are excited to team up with LanzaTech and LanzaJet to develop our first SAF projects together, says Haffner Energy co-founder and CEO Philippe Haffner. We’re confident that CirculAir™ is an exciting pathway, and we look forward to growing our global pipeline together thanks to our combined technologies.”

    Dr. Jennifer Holmgren, Chair and CEO of LanzaTech, and Board Chair of LanzaJet, stated, “The powerful combination of CirculAir and Haffner Energy’s technologies widens the range of waste-based feedstocks able to be used to meet growing SAF demand. Together, our technologies and teaming can drive innovation and economic growth through advanced technology. This partnership is about more than just fuel production; it’s about creating well-paid jobs in rural areas, generating additional value from agricultural and forestry waste, and building new refineries that can bolster local economies.”

    About Haffner Energy

    Haffner Energy designs, manufactures, supplies, and operates biofuel and hydrogen solutions using biomass residues. Its innovative, patented thermolysis technology produces Sustainable Aviation Fuel, as well as renewable gas, hydrogen, and methanol. The company also contributes to regenerating the planet through the co-production of biogenic CO2 and biochar. A family-owned company co-founded 31 years ago by Marc and Philippe Haffner, Haffner Energy has been working from the outset to decarbonize industry and all forms of mobility, as well as governments and local communities. Further information is available at https://​www.haffner-energy.com.

    About LanzaJet

    LanzaJet is a leading alternative fuels technology and engineering company with a patented Alcohol-to-Jet (ATJ) technology, LanzaJet is creating an opportunity for future generations by catalyzing the deployment of SAF and other energy solutions capable of building new industries, creating next generation jobs, and transforming the global economy. LanzaJet was named to TIME100 Most Influential Companies list in 2024. The company is backed by investors and supporters including: LanzaTech, Suncor, Mitsui, Shell, British Airways, All Nippon Airways, Microsoft, Breakthrough Energy, Southwest Airlines, MUFG, Groupe ADP and Airbus. Further information is available at https://​www.lanzajet​.com/.

    About LanzaTech

    LanzaTech Global, Inc. (NASDAQ: LNZA) is the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, materials, and protein for everyday products. Using its bio-recycling technology, LanzaTech captures carbon generated by energy-intensive industries at the source, preventing it from being emitted into the air. LanzaTech then gives that captured carbon a new life as a clean replacement for virgin fossil carbon in everything from household cleaners and clothing fibers to packaging and fuels. By partnering with companies across the global supply chain like ArcelorMittal, Coty, Craghoppers, and LanzaJet, LanzaTech is paving the way for a circular carbon economy. For more information about LanzaTech, visit https://lanzatech.com.

    Media relations

    Haffner Energy
    Laetitia Mailhes
    laetitia.mailhes@haffner-energy.com
    +33 (0)6 07 12 96 76

    LanzaJet
    Meg Whitty
    meg.whitty@lanzajet.com
    +1 (515) 554 4244

    LanzaTech
    Kit McDonnell
    press@lanzatech.com
    +1 (630) 205-5800

    Investor relations

    Haffner Energy
    investisseurs@haffner-energy.com

    LanzaTech
    investor.relations@lanzatech.com

    The MIL Network

  • MIL-OSI: Euronext to acquire Nasdaq’s Nordic power futures business

    Source: GlobeNewswire (MIL-OSI)

    Euronext to acquire Nasdaq’s Nordic power futures business

    Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris / New York – 28 January 2025 – Euronext (Euronext: ENX), the leading European capital market infrastructure, and Nasdaq (Nasdaq: NDAQ), a leading transatlantic market operator and global technology company, today announced the signing of a binding agreement under which Euronext will acquire Nasdaq’s Nordic power futures business, subject to receipt of applicable regulatory approvals.

    The agreement entails the transfer of existing open positions in Nasdaq’s Nordic power derivatives, currently held in Nasdaq Clearing, to Euronext Clearing, with approval of the members. Trading of power futures will be operated from Euronext Amsterdam and will be cleared through Euronext Clearing. Nasdaq Clearing AB, Nasdaq Oslo ASA, and their respective infrastructure are not included in the sale. Nasdaq will continue to operate its European Markets Services business and multi-asset clearinghouse.

    The anticipated combination of Euronext Nord Pool’s market initiative with Nasdaq’s Nordic power futures business is fully aligned with Euronext’s “Innovate for Growth 2027” strategic priority to expand in power and accelerates the delivery of Euronext’s power futures ambitions. The transaction complies with Euronext’s capital allocation policy and will be fully financed with existing cash.

    Camille Beudin, Euronext Head of Diversified Services, said: “Euronext, with its strong presence in the Nordics and efficient integrated trading and clearing setup, is in an excellent position to deliver a long-standing and liquid power futures market for the Nordic and Baltic region. The acquisition of Nasdaq’s Nordic power futures is a major accelerator for our power futures ambition and positions Euronext as a leading player for trading and hedging of power in Europe.”

    Roland Chai, President of European Markets at Nasdaq, said: “Nasdaq’s European multi-asset class market infrastructure is an integral part of our business as an operator of transatlantic markets. This transaction will further sharpen our focus on strategic growth areas as we lead the European capital markets with strong client commitment, state of the art infrastructure for multi-asset class trading and clearing, and expertise in sustainability solutions. We are pleased that Euronext can offer a compatible power product structure and are confident that it will provide our members with the scale and expertise needed to further their power businesses.”

    In August 2024, Euronext and Nord Pool announced their plan to launch a Nordic and Baltic power futures market that addresses the need expressed by the market to have a long-standing, sustainable market infrastructure committed to developing secure power futures trading in the Nordic and Baltic regions. Client testing for the Euronext Nord Pool power futures offering will open in March 2025. The infrastructure created as part of this project is expected to go live in June 2025 and will be able to support the existing Nasdaq Nordic power futures business.

    Euronext and Nasdaq intend to work closely together to ensure a smooth migration of Nasdaq’s Nordic power futures in the first half of 2026. Until the migration is completed, Nasdaq will continue to operate its Nordic power futures business as usual. On receipt of the required approvals, Nasdaq will inform the market about the timing for the transfer of existing open positions to Euronext and Nasdaq will exit its commodities business post migration. No financial details of the transaction are disclosed.

    CONTACTS – EURONEXT  

    ANALYSTS & INVESTORS ir@euronext.com

    Investor Relations        Aurélie Cohen         

            Judith Stein        +33 6 15 23 91 97          

    MEDIA – mediateam@euronext.com 

    Europe        Aurélie Cohen         +33 1 70 48 24 45   

            Andrea Monzani         +39 02 72 42 62 13 

    Belgium        Marianne Aalders         +32 26 20 15 01                 

    France, Corporate        Flavio Bornancin-Tomasella        +33 1 70 48 24 45                 

    Ireland        Andrea Monzani         +39 02 72 42 62 13                 

    Italy         Ester Russom         +39 02 72 42 67 56                 

    The Netherlands        Marianne Aalders         +31 20 721 41 33                 

    Norway         Cathrine Lorvik Segerlund        +47 41 69 59 10                 

    Nord Pool        Irene Zeier        +47 905 79 250

    Nord Pool        Stuart Disbrey         +44 7887 409 044

    Portugal         Sandra Machado        +351 91 777 68 97                

    Corporate Services        Coralie Patri         +33 7 88 34 27 44                                         

    CONTACTS – NASDAQ

    ANALYSTS & INVESTORS Ato.Garrett@nasdaq.com

    Investor Relations        Ato Garrett        +1 212 401 8737

    MEDIA – Hampus.Stenberg@nasdaq.com 

    European Market Services        Hampus Stenberg         +46 73 449 64 31   

    About Euronext

    Euronext is the leading European capital market infrastructure, covering the entire capital markets value chain, from listing, trading, clearing, settlement and custody, to solutions for issuers and investors. Euronext runs MTS, one of Europe’s leading electronic fixed income trading markets, and Nord Pool, the European power market. Euronext also provides clearing and settlement services through Euronext Clearing and its Euronext Securities CSDs in Denmark, Italy, Norway, and Portugal.

    As of December 2024, Euronext’s regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway, and Portugal host over 1,800 listed issuers with around €6 trillion in market capitalisation, a strong blue-chip franchise and the largest global centre for debt and fund listings. With a diverse domestic and international client base, Euronext handles 25% of European lit equity trading. Its products include equities, FX, ETFs, bonds, derivatives, commodities and indices.

    For the latest news, go to euronext.com or follow us on X and LinkedIn.

    About Nasdaq

    Nasdaq (Nasdaq: NDAQ) is a global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

    This communication contains forward-looking information related to Nasdaq and the proposed sale of the Nasdaq Nordic power futures business by an affiliate of Nasdaq to an affiliate of Euronext, which transaction involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. When used in this communication, words such as “will”, “enable”, “intends”, “plans”, “expected” and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. Forward-looking statements in this communication include, among other things, statements about the potential benefits of the proposed transaction, including statements relating to expectations of future operating results and financial performance, the anticipated timing of closing of the proposed transaction, preparations for the transfers of open interest and the actions of Nasdaq after the closing. Risks and uncertainties include, among other things, risks related to the ability of Nasdaq to consummate the proposed transaction on a timely basis or at all; Nasdaq’s ability to secure regulatory approvals on the terms expected, in a timely manner or at all; the ability to realize the anticipated benefits of the proposed transaction, including the possibility that the expected benefits from the proposed transaction will not be realized or will not be realized within the expected time period; disruption from the transaction making it more difficult to maintain business and operational relationships; risks related to diverting management’s attention from Nasdaq’s ongoing business operations; the negative effects of the announcement or the consummation of the proposed transaction on the market price of Nasdaq’s common stock or on Nasdaq’s operating results; significant transaction costs; unknown liabilities; the risk of litigation or regulatory actions related to the proposed transaction; and the effect of the announcement or pendency of the transaction on Nasdaq’s business relationships, operating results, and business generally.

    Further information on these and other risks and uncertainties relating to Nasdaq can be found in its reports filed on Forms 10-K, 10-Q and 8-K and in other filings Nasdaq makes with the SEC from time to time and available at www.sec.gov. These documents are also available under the Investor Relations section of Nasdaq’s website at http://ir.nasdaq.com/investor-relations. The forward-looking statements included in this communication are made only as of the date hereof. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law.

    Disclaimer

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  • MIL-OSI: NBPE Announces December Monthly NAV Estimate

    Source: GlobeNewswire (MIL-OSI)

    THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS

    St Peter Port, Guernsey        28 January 2025

    NB Private Equity Partners (NBPE), the $1.2bn1, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 31 December 2024 monthly NAV estimate.

    NAV Highlights (31 December 2024)

    • NAV per share was $26.91 (£21.49), a total return of (2.2%) in the month
    • Year to date NAV TR of (0.8%) (based on 31 December 2023 final numbers and 31 December 2024 monthly estimate)
    • NBPE expects to receive additional updated Q4 2024 financial information which will be incorporated in the monthly NAV updates in the coming weeks
    • $283 million of available liquidity at 31 December 2024
    As of 31 December 2024 2024 3 years 5 years 10 years
    NAV TR (USD)*
    Annualised
    (0.8%) (6.1%)
    (2.1%)
    65.0%
    10.5%
    160.2%
    10.0%
    MSCI World TR (USD)*
    Annualised
    19.2% 22.0%
    6.9%
    73.9%
    11.7%
    171.9%
    10.5%
    Share price TR (GBP)*
    Annualised
    (1.1%) (2.3%)
    (0.8%)
    62.1%
    10.1%
    231.2%
    12.7%
    FTSE All-Share TR (GBP)*
    Annualised
    9.5% 18.5%
    5.8%
    26.5%
    4.8%
    81.9%
    6.2%

    * All NBPE performance figures assume re-investment of dividends on the ex-dividend date and reflect cumulative returns over the relevant time periods shown, measured against the 31 December audited results at the beginning of the period. Three-year, five-year and ten-year annualised returns are presented for USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total Returns.

    Portfolio Update to 31 December 2024

    NAV performance during the month driven by:

    • 0.8% NAV decrease ($10 million) from the receipt of private company valuation information
    • 0.5% NAV decrease ($6 million) from negative FX movements
    • 0.7% NAV decrease ($9 million) from the value of quoted holdings (which now constitute 6% of portfolio fair value)
    • 0.2% NAV decrease ($3 million) attributable to expense accruals

    Realisations from the portfolio

    • $179 million of realisations received in 2024. Driven by full exits of Cotiviti, Safefleet, Melissa & Doug, FV Hospital and Syniti, partial realisations of Action and Qpark as well as full and partial realisations of quoted holdings and income investments

    $283 million of total liquidity at 31 December 2024

    • $73 million of cash and liquid investments with $210 million of undrawn credit line available

    Four new investments completed in 2024; $104 million invested in 2024 in new and follow-on investments

    • $25 million invested in FDH Aero, a leading parts distributor to the aerospace and defense industry
    • $38 million invested into two U.S. healthcare businesses, Benecon and Zeus
    • $30 million investment in Mariner Wealth Advisors, a financial services firm
    • $11 million of additional new and follow on investments

    Portfolio Valuation

    The fair value of NBPE’s portfolio as of 31 December 2024 was based on the following information:

    • 7% of the portfolio was valued as of 31 December 2024
      • 6% in public securities
      • 1% in private direct investments
    • 1% of the portfolio was valued as of 30 November 2024
      • 1% in private direct investments
    • 92% of the portfolio was valued as of 30 September 2024
      • 91% in private direct investments
      • 1% in private funds

    For further information, please contact:

    NBPE Investor Relations        +44 (0) 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com  

    Kaso Legg Communications        +44 (0)20 3882 6644

    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    Supplementary Information (as at 31 December 2024)

    Company Name Vintage Lead Sponsor Sector Fair Value ($m) % of FV
    Action 2020 3i Consumer 65.6 5.2%
    Osaic 2019 Reverence Capital Financial Services 62.7 4.9%
    Solenis 2021 Platinum Equity Industrials 61.3 4.8%
    BeyondTrust 2018 Francisco Partners Technology / IT 45.6 3.6%
    Branded Cities Network 2017 Shamrock Capital Communications / Media 38.3 3.0%
    Monroe Engineering 2021 AEA Investors Industrials 38.2 3.0%
    Business Services Company* 2017 Not Disclosed Business Services 38.1 3.0%
    GFL (NYSE: GFL) 2018 BC Partners Business Services 35.5 2.8%
    True Potential 2022 Cinven Financial Services 32.1 2.5%
    Staples 2017 Sycamore Partners Business Services 31.6 2.5%
    Kroll 2020 Further Global / Stone Point Financial Services 31.4 2.5%
    Marquee Brands 2014 Neuberger Berman Consumer 31.2 2.5%
    Mariner 2024 Leonard Green & Partners Financial Services 30.0 2.4%
    FDH Aero 2024 Audax Group Industrials 29.1 2.3%
    Fortna 2017 THL Industrials 28.7 2.3%
    Viant 2018 JLL Partners Healthcare 27.2 2.1%
    Stubhub 2020 Neuberger Berman Consumer 26.5 2.1%
    Agiliti 2019 THL Healthcare 25.3 2.0%
    Benecon 2024 TA Associates Healthcare 25.1 2.0%
    Solace Systems 2016 Bridge Growth Partners Technology / IT 24.4 1.9%
    Engineering 2020 NB Renaissance / Bain Capital Technology / IT 24.0 1.9%
    Addison Group 2021 Trilantic Capital Partners Business Services 23.8 1.9%
    USI 2017 KKR Financial Services 22.2 1.8%
    Auctane 2021 Thoma Bravo Technology / IT 21.9 1.7%
    Excelitas 2022 AEA Investors Industrials 21.9 1.7%
    Qpark 2017 KKR Transportation 21.3 1.7%
    AutoStore (OB.AUTO) 2019 THL Industrials 20.4 1.6%
    CH Guenther 2021 Pritzker Private Capital Consumer 20.2 1.6%
    Renaissance Learning 2018 Francisco Partners Technology / IT 19.7 1.6%
    Bylight 2017 Sagewind Partners Technology / IT 19.5 1.5%
    Total Top 30 Investments                             $942.7 74.4%

    *Undisclosed company due to confidentiality provisions.

    Geography % of Portfolio
    North America 79%
    Europe 20%
    Asia / Rest of World 1%
    Total Portfolio 100%
       
    Industry % of Portfolio
    Tech, Media & Telecom 22%
    Consumer / E-commerce 20%
    Industrials / Industrial Technology 17%
    Financial Services 16%
    Business Services 12%
    Healthcare 8%
    Other 4%
    Energy 1%
    Total Portfolio 100%
       
    Vintage Year % of Portfolio
    2016 & Earlier 10%
    2017 19%
    2018 15%
    2019 12%
    2020 12%
    2021 17%
    2022 5%
    2023 2%
    2024 8%
    Total Portfolio 100%

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman
    Neuberger Berman is an employee-owned, private, independent investment manager founded in 1939 with over 2,800 employees in 26 countries. The firm manages $508 billion of equities, fixed income, private equity, real estate and hedge fund portfolios for global institutions, advisors and individuals. Neuberger Berman’s investment philosophy is founded on active management, fundamental research and engaged ownership. The firm’s leadership in stewardship and sustainable investing is recognized by the PRI based on its consecutive above median reporting assessment results. Neuberger Berman has been named by Pensions & Investments as the #1 or #2 Best Place to Work in Money Management for each of the last eleven years (firms with more than 1,000 employees). Visit www.nb.com for more information. Data as of 31 December 2024, unless otherwise noted.


    1Based on net asset value.

    This press release appears as a matter of record only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.

    NBPE is established as a closed-end investment company domiciled in Guernsey. NBPE has received the necessary consent of the Guernsey Financial Services Commission. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. This document is not intended to constitute legal, tax or accounting advice or investment recommendations. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of NBPE’s investment manager. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this document contains “forward-looking statements.” Actual events or results or the actual performance of NBPE may differ materially from those reflected or contemplated in such targets or forward-looking statements.

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  • MIL-OSI Economics: Samsung Integrates EMBIBE’s AI-Powered Learning Platform into the Samsung Education Hub App for Smart TVs & Smart Monitors

    Source: Samsung

     
    Samsung, India’s largest consumer electronics brand, has partnered with EMBIBE, an AI-powered personalised learning outcomes platform, to integrate it into the Samsung Education Hub app, a designed-for-TV education app. The collaboration will help TVs become effective educational tools providing personalised learning experiences for students.
     
    Through this partnership, EMBIBE, as part of the Samsung Education Hub app, will offer extensive educational coverage, supporting all major curricula, including CBSE, ICSE, IB, Cambridge, all State Boards and major entrance exams such as IIT JEE and NEET. Students will benefit from a large collection of award-winning, immersive 3D explainer videos, designed to make even the most complex topics easier to understand and more engaging to learn.
     
    “The Samsung Education Hub app aims to expand the role of TVs in homes, transforming them from mere entertainment hubs to a seamless platform for online learning. This innovative ‘designed-for-TV’ education app is set to revolutionise the online learning experience, making it engaging and accessible to all. Our vision is to create a future where education knows no boundaries and knowledge is within easy reach at the click of a button,” said Viplesh Dang, Senior Director, Visual Display Business, Samsung India.
     
    “Our partnership with Samsung TV marks a significant leap in delivering a truly personal, engaging, learning experience through one of the most trusted and loved mediums. Samsung has partnered with EMBIBE because we’ve solved two critical challenges: creating stunning interactive, multi-modal content and delivering it through a deeply personalized experience powered by AI. The synergy between Samsung’s innovation and EMBIBE’s expertise in edtech is a powerful combination that sets a new standard for educational excellence, creating a transformative learning experience for everyone,” said Aditi Avasthi, Founder & CEO at EMBIBE.
     
    At the heart of EMBIBE’s offering is its personalised, AI-driven adaptive practice, which adjusts to each student’s learning level. Through the Samsung Education Hub, students will be able to access EMBIBE’s video-based learning resources and also its AI-powered adaptive practice in English, Hindi and 10 major regional languages, backed by over 10 years of educational engagement data of more than two crore students. They can choose from 54,000 practice tests and use personalised score-improvement features that will provide useful insights for improvement. In addition, students can avail Samsung’s exclusive discount of a flat 50% on EMBIBE annual subscription purchased on TV.
     
    EMBIBE content will be available on all 2024 Samsung TVs and smart monitors and will be gradually made available on earlier models. Existing subscribers of EMBIBE, who own Samsung TVs will have seamless login and access to this rich educational content, along with Samsung TV users who wish to subscribe to the platform. Earlier this year, Samsung had teamed up with the leading ed-tech platform, Physics Wallah for Samsung Education Hub on 2023 & 2024 Samsung TVs.

    MIL OSI Economics

  • MIL-OSI: ING to sell its business in Russia to Global Development JSC

    Source: GlobeNewswire (MIL-OSI)

    ING to sell its business in Russia to Global Development JSC

    ING announced today that it has reached an agreement on the sale of its business in Russia to Global Development JSC, a Russian company owned by a Moscow-based financial investor with a background in factoring services. This transaction will effectively end ING’s activities in the Russian market. Under the terms of the agreement, Global Development will acquire all shares of ING Bank (Eurasia) JSC, taking over all Russian onshore activities and staff. Global Development intends to continue to serve customers in Russia under a new brand. The transaction, which has been preceded by extensive due diligence, is subject to various regulatory approvals and is expected to be closed in the third quarter of 2025.

    Since February 2022, ING has taken on no new business with Russian companies, has scaled down operations and has taken actions to separate the business from ING’s networks and systems. At the same time ING’s total lending exposure to Russian clients has been reduced by more than 75%.

    ING expects a negative P&L impact of around €0.7 billion post tax. This includes an estimated book loss of around €0.4 billion, representing the difference between the sale price and the book value of the business, which would have a negative impact of around 5 basis points on ING’s CET1 ratio. It also includes an estimated negative impact of around €0.3 billion from recycling the currency translation adjustment through P&L, that is currently booked in equity for past changes of the value of ING Bank (Eurasia) JSC as a result of exchange rate movements. This currency translation adjustment recycling will not affect ING’s CET1 ratio and resilient net profit.

    After the transaction, ING will continue to further reduce its offshore exposure to Russian clients. This exposure, which is booked by other ING entities outside of Russia, amounted to €1.0 billion as of 30 September 2024, of which €0.5 billion is under ECA or CPRI cover.

    Note for editors

    For more on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom or via X @ING_news feed. Photos of ING operations, buildings and its executives are available for download at Flickr.

    ING PROFILE
    ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 60,000 employees offer retail and wholesale banking services to customers in over 40 countries.

    ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

    ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING’s ESG rating by MSCI was reconfirmed by MSCI as ‘AA’ in August 2024 for the fifth year. As of December 2023, in Sustainalytics’ view, ING’s management of ESG material risk is ‘Strong’. Our current ESG Risk Rating, is 17.2 (Low Risk). ING Group shares are also included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell. Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that’s not. Follow our progress on ing.com/climate.

    Important legal information

    Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014 (‘Market Abuse Regulation’).

    ING Group’s annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS- EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2023 ING Group consolidated annual accounts. All figures in this document are unaudited. Small differences are possible in the tables due to rounding.

    Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes affecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) changes affecting interest rate levels (3) any default of a major market participant and related market disruption (4) changes in performance of financial markets, including in Europe and developing markets (5) fiscal uncertainty in Europe and the United States (6) discontinuation of or changes in ‘benchmark’ indices (7) inflation and deflation in our principal markets (8) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (9) failures of banks falling under the scope of state compensation schemes (10) non-compliance with or changes in laws and regulations, including those concerning financial services, financial economic crimes and tax laws, and the interpretation and application thereof (11) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and the related international response measures (12) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (13) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (14) ING’s ability to meet minimum capital and other prudential regulatory requirements (15) changes in regulation of US commodities and derivatives businesses of ING and its customers (16) application of bank recovery and resolution regimes, including write down and conversion powers in relation to our securities (17) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (18) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change and ESG-related matters, including data gathering and reporting (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com.

    This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information.

    Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission (‘SEC’) reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are “green” or “sustainable.” Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security.

    This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING’s control.

    Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

    This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction.

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  • MIL-Evening Report: DeepSeek: how a small Chinese AI company is shaking up US tech heavyweights

    Source: The Conversation (Au and NZ) – By Tongliang Liu, Associate Professor of Machine Learning and Director of the Sydney AI Centre, University of Sydney

    Chinese artificial intelligence (AI) company DeepSeek has sent shockwaves through the tech community, with the release of extremely efficient AI models that can compete with cutting-edge products from US companies such as OpenAI and Anthropic.

    Founded in 2023, DeepSeek has achieved its results with a fraction of the cash and computing power of its competitors.

    DeepSeek’s “reasoning” R1 model, released last week, provoked excitement among researchers, shock among investors, and responses from AI heavyweights. The company followed up on January 28 with a model that can work with images as well as text.

    So what has DeepSeek done, and how did it do it?

    What DeepSeek did

    In December, DeepSeek released its V3 model. This is a very powerful “standard” large language model that performs at a similar level to OpenAI’s GPT-4o and Anthropic’s Claude 3.5.

    While these models are prone to errors and sometimes make up their own facts, they can carry out tasks such as answering questions, writing essays and generating computer code. On some tests of problem-solving and mathematical reasoning, they score better than the average human.

    V3 was trained at a reported cost of about US$5.58 million. This is dramatically cheaper than GPT-4, for example, which cost more than US$100 million to develop.

    DeepSeek also claims to have trained V3 using around 2,000 specialised computer chips, specifically H800 GPUs made by NVIDIA. This is again much fewer than other companies, which may have used up to 16,000 of the more powerful H100 chips.

    On January 20, DeepSeek released another model, called R1. This is a so-called “reasoning” model, which tries to work through complex problems step by step. These models seem to be better at many tasks that require context and have multiple interrelated parts, such as reading comprehension and strategic planning.

    The R1 model is a tweaked version of V3, modified with a technique called reinforcement learning. R1 appears to work at a similar level to OpenAI’s o1, released last year.

    DeepSeek also used the same technique to make “reasoning” versions of small open-source models that can run on home computers.

    This release has sparked a huge surge of interest in DeepSeek, driving up the popularity of its V3-powered chatbot app and triggering a massive price crash in tech stocks as investors re-evaluate the AI industry. At the time of writing, chipmaker NVIDIA has lost around US$600 billion in value.

    How DeepSeek did it

    DeepSeek’s breakthroughs have been in achieving greater efficiency: getting good results with fewer resources. In particular, DeepSeek’s developers have pioneered two techniques that may be adopted by AI researchers more broadly.

    The first has to do with a mathematical idea called “sparsity”. AI models have a lot of parameters that determine their responses to inputs (V3 has around 671 billion), but only a small fraction of these parameters is used for any given input.

    However, predicting which parameters will be needed isn’t easy. DeepSeek used a new technique to do this, and then trained only those parameters. As a result, its models needed far less training than a conventional approach.

    The other trick has to do with how V3 stores information in computer memory. DeepSeek has found a clever way to compress the relevant data, so it is easier to store and access quickly.

    What it means

    DeepSeek’s models and techniques have been released under the free MIT License, which means anyone can download and modify them.

    While this may be bad news for some AI companies – whose profits might be eroded by the existence of freely available, powerful models – it is great news for the broader AI research community.

    At present, a lot of AI research requires access to enormous amounts of computing resources. Researchers like myself who are based at universities (or anywhere except large tech companies) have had limited ability to carry out tests and experiments.

    More efficient models and techniques change the situation. Experimentation and development may now be significantly easier for us.

    For consumers, access to AI may also become cheaper. More AI models may be run on users’ own devices, such as laptops or phones, rather than running “in the cloud” for a subscription fee.

    For researchers who already have a lot of resources, more efficiency may have less of an effect. It is unclear whether DeepSeek’s approach will help to make models with better performance overall, or simply models that are more efficient.

    Tongliang Liu 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. DeepSeek: how a small Chinese AI company is shaking up US tech heavyweights – https://theconversation.com/deepseek-how-a-small-chinese-ai-company-is-shaking-up-us-tech-heavyweights-248434

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Bitfarms Enters into a Binding LOI with HIVE Digital Technologies for the Sale of its Yguazu, Paraguay Site

    Source: GlobeNewswire (MIL-OSI)

    -Bitfarms to reinvest capital in US growth opportunities-

    -Accretive transaction values the completed site at ~$85 million and significantly reduces anticipated 2025 capital requirements-

    -Rebalances YE 2025 proforma energy portfolio to ~80% North American & 20% international-

    -Reduces expected average power costs by ~10%-

    This news release constitutes a “designated news release” for the purposes of Bitfarms’ second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.

    TORONTO, Jan. 28, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global vertically integrated Bitcoin data center company, today announced that it has entered into a binding Letter of Intent (“LOI”) to sell its 200 MW site in Yguazu, Paraguay to HIVE Digital Technologies, Ltd (“HIVE”). The transaction is expected to close in the first quarter of 2025.

    Bitfarms CEO Ben Gagnon stated, “We are pleased to announce the sale of our Yguazu site to HIVE as we continue to streamline our operations and rebalance towards North America. Bitfarms will be reinvesting the capital from this sale towards its 1 GW growth pipeline in the U.S. for BTC and HPC/AI infrastructure which marks a significant milestone in our transition from an international Bitcoin miner to a North American energy and compute infrastructure company.”

    “We remain fully committed to our current operations in Latin America, with three sites totaling 144 MW that all benefit from long-term power contracts, competitive pricing and geographical diversification. This shift towards U.S.-based assets is in-line with our strategy to diversify beyond Bitcoin mining and capitalize on the significant growth opportunities in HPC/AI.”

    Terms
    Under the terms of the binding LOI, HIVE will purchase from Bitfarms its 100% ownership stake of its Yguazu, Paraguay Bitcoin mining site. The proposed transaction values the completed site at approximately $85 million, inclusive of approximately $19 million of power deposits with ANDE and the assumption of remaining capital obligations.

    Bitfarms to receive:

    • $25 million upon closing of this transaction
    • $31 million over 6 months following closing
    • $19 million as reimbursement for power deposits made to ANDE by Bitfarms
    • Approximately $10 million in remaining capital obligations

    Transaction Benefits

    • Significantly reduces Bitfarms’ anticipated 2025 capital requirements.
    • Rebalances portfolio to ~80% North American and 20% International by YE 2025, when coupled with our acquisition of Stronghold Digital Mining, which is expected to close in the next couple of months.
    • Reduces estimated average power costs by ~10%.
    • Does not impact miner deployment schedule. Reduces YE 2025 MW capacity from 955 MW to 755 MW.

    About Bitfarms Ltd.

    Founded in 2017, Bitfarms is a global vertically integrated Bitcoin data center company that contributes its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated mining facilities with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company’s proprietary data analytics system delivers best-in-class operational performance and uptime.

    Bitfarms currently has 12 operating Bitcoin data centers and two under development, as well as hosting agreements with two data centers, in four countries: Canada, the United States, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    https://twitter.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Glossary of Terms

    • Y/Y or M/M= year over year or month over month
    • EH or EH/s = Exahash or exahash per second
    • MW or MWh = Megawatts or megawatt hour
    • HPC/AI = High Performance Computing / Artificial Intelligence

    Forward-Looking Statements

    This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding the sale of the Yguazu, Paraguay Site, the merits of the rebalancing operations to North America, the reinvestment of the proceeds of the sale for growth, the North American energy and compute infrastructure strategy, and other statements regarding future growth, plans and objectives of the Company are forward-looking information. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “prospects”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

    This forward-looking information is based on assumptions and estimates of management of the Company at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to: an inability to complete the sale of the Yguazu, Paraguay Site on the terms as announced or at all; the reinvestment of the proceeds of the sale may not occur on an economic basis; the anticipated benefits of the rebalancing of operations to North America and the North American energy and compute infrastructure strategy may not be realized; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine Bitcoin; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current Bitcoin inventory, or at all; a decline in Bitcoin prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of Bitcoin prices; the anticipated growth and sustainability of hydroelectricity for the purposes of Bitcoin mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate Bitcoin mining assets; the risks of an increase in the Company’s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company’s profitability; the ability to complete current and future financings; the risk that a material weakness in internal control over financial reporting could result in a misstatement of the Company’s financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; any regulations or laws that will prevent Bitfarms from operating its business; historical prices of Bitcoin and the ability to mine Bitcoin that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca (which are also available on the website of the U.S. Securities and Exchange Commission at www.sec.gov), including the restated MD&A for the year-ended December 31, 2023, filed on December 9, 2024. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by the Company. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law . Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

    Investor Relations Contacts:

    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contacts:

    Caroline Brady Baker
    Director, Communications
    cbaker@bitfarms.com

    The MIL Network

  • MIL-OSI China: Chinese provinces set tailored plans to support emerging, future industries

    Source: China State Council Information Office 2

    Chinese provinces have outlined plans this year to strengthen support for tech-intensive industries, most of which are tailored to local conditions.
    In their annual government work reports delivered at local “two sessions” this month, regional policy-makers unveiled more details on where the provincial economic landscape will be shifting for the year ahead.
    At least five provinces or municipalities, including Shanghai, Guangdong, Zhejiang and Liaoning, proposed blueprints to boost the semiconductor industry, considered a critical “bottleneck” sector in China. Beijing is set to accelerate production capacity for major integrated circuit projects while supporting relevant firms to withstand external pressures.
    In the new energy vehicle (NEV) manufacturing field, where China holds a technological edge, Guangdong and Shanghai are gearing up to solidify their advantages. The Pearl River Delta and Yangtze River Delta regions, where Guangdong and Shanghai are located, serve as China’s major NEV hubs.
    A southwestern economic circle that covers Sichuan and Chongqing is prioritizing smart and connected vehicle technologies, another innovation that drives the automotive industry forward. The country’s southern province of Guangdong is pushing to build pilot cities for the national “vehicle-road-cloud integration” initiative.

    An automatic assembly line is pictured at a smart factory of Changan Auto in Chongqing, southwest China, Jan. 9, 2025. Chongqing, a key hub of the country’s automotive industry, boasts a complete auto industrial chain and has registered a rapid growth in new energy vehicle (NEV) production in recent years. (Xinhua/Wang Quanchao)
    Multiple provinces have introduced “AI plus” plans, with Beijing targeting the construction of two 10,000-card intelligent computing clusters. Guangdong is focusing on enhancing the application of general and industry-specific large language models (LLMs).
    Shanghai and Sichuan have identified brain-computer interfaces as a key technological frontier, while Anhui targets building a fusion reactor research facility.
    China’s local governments tend to develop innovation and industrial roadmaps based on their unique strengths. The eastern province of Anhui is advancing an international lunar research station project, while Shanghai, home to the C919 aircraft manufacturing, is pushing to grow its large aircraft industry.
    Hainan, China’s southern island province, has prioritized marine-related industries in its development strategy, accelerating offshore wind farm construction while pioneering a landmark offshore wind-to-hydrogen demonstration project.
    Anhui, Zhejiang and Hainan plan to build pilot platforms to foster the convergence of technological and industrial innovations.

    MIL OSI China News

  • MIL-OSI China: Tesla, BMW join Chinese EV makers in challenging EU tariffs

    Source: China State Council Information Office

    Tesla and BMW have joined Chinese electric vehicle (EV) manufacturers in challenging the European Union’s (EU) tariffs on Chinese-made EVs, filing cases with the Court of Justice of the European Union (CJEU), according to the court’s website.

    The automakers’ lawsuits follow similar filings last week by Chinese EV manufacturers BYD, Geely, and SAIC, contesting the EU’s additional import tariffs of up to over 35 percent.

    European Commission spokesperson Olof Gill confirmed at a press conference on Monday that the EU is prepared to respond to the case in court.

    Despite strong opposition from industry stakeholders in EU member states, the Commission moved forward with its proposal to impose countervailing tariffs on Chinese EVs in October.

    Under the EU tariff scheme, U.S. automaker Tesla, which manufactures vehicles in China, faces a duty of 7.8 percent after requesting an individual review. BMW, which also produces certain models in China, is subject to a 20.7-percent duty. Tariffs for Chinese manufacturers vary: 17 percent for BYD, 18.8 percent for Geely, and 35.3 percent for SAIC.

    China appealed to the World Trade Organization (WTO) in November last year against the EU’s final ruling on countervailing measures targeting Chinese EVs.

    MIL OSI China News

  • MIL-OSI Asia-Pac: WSD Water-smart Taskforce uses AI to help customers save water

    Source: Hong Kong Government special administrative region

    WSD Water-smart Taskforce uses AI to help customers save water
    WSD Water-smart Taskforce uses AI to help customers save water
    **************************************************************

         To strengthen the promotion of water conservation, the Water Supplies Department (WSD) has commissioned the University of Hong Kong’s (HKU) Centre for Water Technology and Policy to implement the Water-smart Taskforce Programme from February to early 2026 to offer water-saving advice to customers that have high water consumption. The HKU team will install a high-resolution smart device on top of each selected customer’s billing meter to identify causes of high water usage by analysing water usage data of the customer’s premise with the aid of artificial intelligence. A tailored report offering water-saving advice and alerts on any potential leaks will be provided for the customer to reduce water consumption and therefore save on water charges.      The WSD has started to invite appropriate customers by mail to join the Programme in batches. Participation in the Programme is free of charge and the number of selected participants is limited. The WSD encourages customers to participate in the Programme upon receipt of an invitation.      By implementation of this Programme, the WSD aims to achieve a reduction in water consumption of 500 000 cubic metres this year, which is equivalent to 200 Olympic-size swimming pools. Earlier, the WSD conducted a trial programme on a smaller scale in Tai O. The trial achieved a 6 per cent reduction in water consumption by the participating families. The result was remarkable.      According to the WSD’s big data analysis, water consumption by about 1 per cent of WSD customer groups (including domestic and non-domestic customers) has accounted for over 30 per cent of the city’s total water consumption. The Programme is set up to offer tailored water-saving advice to these high-consumption customers so as to reduce overall water consumption. The WSD launched a new round of the water conservation campaign “Save Water Today for a Sustainable Future” in February last year. With the efforts made for nearly one year, per capita domestic fresh water consumption has lowered from about 151 litres per day at the peak during the pandemic to about 133 litres per day now, which is on a par with the pre-pandemic period representing a 12 per cent decrease. This shows that the department’s water conservation promotion measures are taking effect progressively.      Details of the Water-smart Taskforce Programme are available on WSD’s dedicated webpage. For enquiries on the Programme, please call WSD’s 24-hour Customer Enquiry Hotline 2824 5000.

     
    Ends/Tuesday, January 28, 2025Issued at HKT 11:05

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI Australia: Doorstop – Jerrabombera

    Source: Australia Government Ministerial Statements

    SUBJECTS: Cheaper Child Care; Wage rise for early educators; Universal early education; Fully funding public schools; $7,200 worse off under Peter Dutton; National Bullying Action Plan; The Middle East; Antisemitism; University governance; Local government 

    KRISTY McBAIN, MINISTER FOR REGIONAL DEVELOPMENT, LOCAL GOVERNMENT AND TERRITORIES: It’s a pleasure today to welcome Minister Jason Clare to Goodstart Jerrabomberra where 90 places a day are filled, and we have a wait list. Jerrabomberra is the heart of the Queanbeyan region, it’s fast growing, and this childcare centre is one of many that have benefitted from the Albanese Labor Government’s Cheaper Childcare plan.

    We know families right across our region have benefitted from this, and it’s so great to be able to introduce Minister Clare to the wonderful staff here, the wonderful centre manager and State manager and the wonderful kids that come here each and every day to enjoy this beautiful centre.

    JASON CLARE, MINISTER FOR EDUCATION: Thanks very much, Kristy. It’s absolutely fantastic to be with you here at Jerrabomberra at the Goodstart Centre here. You are an absolutely fantastic Member of Parliament, and we are so lucky to have as part of the Albanese Labor Government and this community is lucky to have you as their Labor Member.

    When we were elected two and a half years ago, childcare costs had sky rocketed, childcare costs under the Liberals went up by 49 per cent over just under a decade, and that was double the OECD average.

    We’ve cut the cost of childcare now for more than a million Australian families. In the first 15 months of our Cheaper Childcare laws this has meant that for an average family on about 120 grand a year combined income with one child in early education or care saved them about 2,700 bucks, and that’s real money that’s making a real difference for families right across the country.

    And when we were elected two and a half years ago childcare workers were leaving the sector in droves, that’s the truth of it, and we’re now starting to see that turn around. Data that’s been released today shows that vacancy rates in the childcare sector are down 22 per cent, and at Goodstart, where we are today, all of their centres across the country, we’re seeing job applications now jump by 35 per cent, and expressions of interest jump by 50 to 60 per cent. Vacancy rates at Goodstart Centres are down by a massive 28 per cent.

    So that’s fantastic news. It shows that when you pay people more, more people want to do the job, and there aren’t many jobs that are more important than the work that our early educators do, getting young people ready for school.

    If we win the next election, the next big thing that we need to do is build more centres where they don’t exist at the moment and help to make sure that more young people get the chance that the children we’ve met here today get, help young people who can’t get into early education and care now, either because there’s no centre in their town, or because they can’t get access to the subsidy through no fault of their own.

    And that’s why if we win the next election, we’ll set up a $1 billion fund to build more centres in the outer suburbs and in the regions where they don’t exist at the moment, and implement a three day guarantee, to guarantee that every child who needs it will get access to three days a week of government supported early education and care.

    Why? To make sure that more children are ready to start school, because the evidence is, that if children spend more time in early education and care in centres like this, they’re more likely to start school ready to learn.

    And just while talking about school, last week the Prime Minister announced that South Australia and Victoria have become the fifth and sixth States to sign up to our public school funding and reform agreement, the Better and Fairer Schools Agreement, that’s along with WA, Tassie, ACT, the Northern Territory and of course now South Australia and Victoria.

    On the weekend, teachers backed this agreement, on the weekend principals backed this agreement, and now today the Business Council of Australia backed this agreement. This is real funding, to fix the funding of our public schools, and it’s not a blank cheque, it’s tied to real reform; things like phonics checks in Year 1 and numeracy checks in Year 1 to identify children who might already be falling behind, and then using that funding to make sure that children who do fall behind catch up early, because we know that children who catch up early are more likely to go on and finish high school.

    So, it’s backed by teachers, backed by principals, backed by the business community. The only people that are against it are Peter Dutton and the Liberal Party, they’re against cutting the cost of childcare for Australian parents, they’re against pay rises for childcare workers, they’re against building more childcare centres where they don’t exist, and they’re against fixing the funding of our public schools and tying that funding to evidence based teaching and real reform to help more young children to catch up, keep up and finish high school.

    Happy to take some questions.

    JOURNALIST: When do you expect that Queensland and New South Wales will sign on to that school agreement?

    CLARE: I won’t give you a date, but negotiations are going well.

    JOURNALIST: Fresh polling is showing that it’s really tight. Are your cost-of-living measures cutting through with the voters?

    CLARE: We know that Australians are doing it tough, a lot of Australians are doing it tough, that’s why creating a million jobs is really important, that’s why cutting inflation by more than half is really important, that’s why boosting real wages is really important as well.

    We’re making progress, there’s more work to do, but the evidence that came out on the weekend shows that if Peter Dutton had been the Prime Minister of Australia for the last 12 months, Australian families would be over $7,000 worse off.

    Why? Well, because he was against the tax cuts that delivered a lot of support for Australian families, he’s against cheaper childcare, he’s against cutting the cost of medicine, he’s against lifting real wages, he’s against cutting the cost of people’s energy bills through that $300 rebate, and when you add all that up, it means that Aussie families would be thousands and thousands of dollars, $7,200, worse off under Peter Dutton.

    JOURNALIST: On the School Agreement, so New South Wales and Queensland you would assume are trying to get more than 25 per cent. Are you open to that?

    CLARE: Don’t assume that. But I’m not going to negotiate through the media. What’s important here is that we fix the funding of our public schools, and we tie that to the sort of reforms that are going to help make sure that more kids that fall behind can catch up and keep up and finish high school.

    Private schools, non government schools are funded at the level that David Gonski said they should be at, public schools aren’t, and this agreement is about fixing that, but also tying that to real targets and real reforms.

    The current agreement doesn’t do that. There aren’t any real targets, there aren’t any real reforms. I want to make sure that we fix the funding of our schools and tie it to the sort of reforms that we know work. I want this money to get results.

    At the moment in public schools, over the course of say, you know, the last eight years or so, we’ve seen the percentage of kids finishing high school drop from 83 per cent to 73 per cent. Just think about that for a second. That’s happening at a time where it’s more important to finish school than it was when we were little.

    We’ve got to turn that around if we’re going to make sure that more people get a chance to go to TAFE and university and get the jobs that are being created today. That’s why this funding is important, but that’s why the reforms that it’s linked to are just as important.

    JOURNALIST: The States that signed on to it earlier, are they now pushing for 25 per cent as well, and will you grant that?

    CLARE: I’ve already spoken to those States, and we will offer to them the same deal, which is we’ll lift our offer from 20 to 25 if they get rid of that 4 per cent which is usually aligned to things like capital depreciation costs. So, we’re having great conversations with states like WA and Tassie.

    JOURNALIST: Is there a willingness though to go above 25 per cent for the two states that have paid off, and then does that open up the chance for increased funding for other states?

    CLARE: No. That’s why when I answered your previous question, I said don’t assume that the States are asking for more than 25 per cent. What the states have been asking for, for the last 12 months is that we increase our offer from 20 to 25 per cent, and we said, “Yeah, we’ll do that, but we need you to chip in as well”.

    It’s always been my view that the Commonwealth’s got to chip in and the states have to chip in as well. That’s why we’re saying to the states, if we can lift our funding from 20 to 25 per cent, let’s get rid of that other 4 per cent, which is used for things like capital depreciation that don’t actually go to real funding for schools at the moment.

    JOURNALIST: Is the absolute cap 25?

    CLARE: Well, again, I’m not going to go into the details of the conversation, but we’re not talking beyond 25.

    JOURNALIST: How exactly are you going to address high rates of absenteeism due to bullying or mental health issues, do you actually have a stepped plan in place for the next school year?

    CLARE: Yep. This is a complicated thing. There is absolutely no place for bullying in our schools. That’s why the work that we’re doing in putting together a National Bullying Action Plan with the states is so critical, so important; that’s why getting rid of mobile phones in schools is so important; that’s why the ban on access to social media for young people under the age of 16 is so important as well.

    We know fundamentally that children are less likely to be at school if they’re suffering from bullying or they’re suffering from mental health challenges. And young people with mental health challenges, by the time they’re in Year 9 are about a year and a half to two years behind the rest of the class, and less likely to finish school.

    And so the sort of things that we want to tie this funding to are early intervention when children are young at primary school to make sure that they keep up and catch up, but also more investment in things like mental health workers and paediatric nursing support in our schools.

    That investment in health is not just about health, it has real education outcomes as well.

    JOURNALIST: Donald Trump overnight said that   sorry, a couple of days ago said that he proposed “cleaning”   unquote   “cleaning out Gaza and resettling Palestinians”. What is the Government’s response to that?

    CLARE: The Government’s position for a very, very long time, I think since December of 2023, has been to call for a ceasefire in Gaza, and we’re glad that that has finally happened. We want to see an end to the killing in the Middle East, we want to see trucks come in with food and with medicine and with aid. We want to see the hostages returned.

    JOURNALIST: And what about resettling Palestinians though? What is your response directly to that suggestion that they should be moved to Jordan or Egypt?

    CLARE: The position of the Australian Government, which I think is still the position of the Opposition as well is that we believe in a two-state solution, two countries living side by side, two peoples living side by side in two nations where people can live in safety and security without having to go through checkpoints or fear that their lives will be taken from them the next day.

    JOURNALIST: Just on that language though, you know, “cleaning out”, do you think that’s triggering language or insensitive language?

    CLARE: Repeating my previous answer, we want two peoples able to be live side by side in safety and security.

    JOURNALIST: Do you have a set price tag on the number of those professional healthcare workers you want in schools?

    CLARE: No, there’s no set number, but this investment in South Australia’s an extra billion dollars over the next 10 years, in Victoria it’s an extra two and a half billion dollars over the next 10 years.

    The agreements that we’re striking with the states are all going to be slightly different depending on the needs in those states, but it’s designed to invest in real practical reforms that we know are going to get the results that we need.

    Just to add to what we’re talking about here, we’re talking about fixing the funding of our public schools. Now one in 10 children at the moment, when they sit for their NAPLAN tests in third grade, are identified as being below the national average, so one in 10   sorry, below the national minimum standard, so one in 10. But amongst children from poor families, from really disadvantaged backgrounds, it’s one in three, and most of those children go to public schools.

    So our public schools are the places that do the real heavy lifting where the challenge is three times as big, and they’re the ones that were underfunded at the moment. We want to fix that funding and tie that funding to help those children to catch up and keep up and finish high school.

    JOURNALIST: On that pay rise for early educators, do you know how many centres have used that as an excuse to immediately increase their fees by 4.4 per cent?  

    CLARE: Here’s the thing, they can’t, because a condition of getting the funding for the pay rise is they can’t increase their fees by more than 4 per cent.

    JOURNALIST: Yeah. That’s why I’m asking how many have increased their fees to that 4.4?

    CLARE: I suspect that most centres will increase their fees somewhere between zero and up to that 4 per cent over the next 12 months. The key thing is they can’t go beyond that, and that’s a big part of this deal. Number one, we want to make sure that the money goes to the worker, not the centre, and number two, in order to get that funding, they cannot increase their fees by more than 4 per cent.

    JOURNALIST: Do you know how many though have hit that cap?

    CLARE: It’s too early to give you that number.

    JOURNALIST: This billion-dollar strategy for outer suburbs and regional areas, do you have any hotspots, any, you know, regional areas that you’re concerned about that don’t have enough facilities?

    CLARE: You can look at data that shows where there are what’s called sometimes “childcare deserts” right across the country. This fund is designed to help to make sure that we build centres where they’re needed most, and in particular, if you look at the Productivity Commission report released last year it talks to this, it’s the outer suburbs, and it’s in Regional Australia.

    Just talking to the team at Goodstart here is the only childcare centre in Jerra that provides full service from six week old children right through to four year olds.

    JOURNALIST: I did just want to ask you about – there was evidence at a Parliamentary Committee last week about an online meeting of ANU to delete the Nazi salute. The investigation to my understanding is that they found that that wasn’t the case. What else do you think was happening there?

    CLARE: I make the general point, whether it’s at ANU or whether it’s at QUT that there is absolutely no place for the poison of antisemitism in our universities or anywhere in this country or anywhere in the world.

    There is a commemoration that’s just happened of the 80th Anniversary of the Holocaust and Auschwitz. You know, in the lifetime of our grandparents we’ve all seen the true terror of what antisemitism can wreak and there is no place for it, and that’s why I’ve made it very clear to every university leader in the country that they must enforce their Codes of Conduct, and that includes saying that directly to the Vice Chancellor of QUT.

    JOURNALIST: Do you believe though that it was appropriate that an ANU student who went on radio said that terrorist designated organisation, Hamas [indistinct] unconditional support was able to overturn her expulsion on appeal. You’ve just spoken about the poison of antisemitism; we have a growing issue in Australia. Is that an appropriate thing to do?

    CLARE: No.

    JOURNALIST: Are we any closer to a governance review   what’s the latest with the university governance review?

    CLARE: Yeah, last week we announced the members of the panel that will be responsible for implementing that review.

    JOURNALIST: Are you confident with the members of that panel?

    CLARE: I am.

    JOURNALIST: And then I might just Ms McBain something if that’s okay.

    CLARE: Sure.

    JOURNALIST: [Indistinct] would like to see councils auctioning off properties. What do you think of this decision?

    McBAIN: Look, every Council has the opportunity to take action when someone doesn’t pay rates for a period of time. My understanding, and it was a unanimous decision of Queanbeyan-Palerang Council to take this route, is that these rates have been unpaid for more than five years. A lot of those properties that attempted to make contact by door knocking them, letter boxing them, serving them, there’s been no contact made with any of those individuals for a variety of reasons. It is an avenue open to them, but as I said, it’s a unanimous decision of Queanbeyan-Palerang Council to take this action, which I’m sure that hasn’t been done lightly either.

    JOURNALIST: Are you concerned about the financial stability of councils if they are having to resort to methods like this just to try and stay out of debt?

    McBAIN: Look, I think when you look at it, it’s about a million dollars in unpaid rates that they are going to attempt to recruit through auction. I don’t think this goes anywhere near dealing with some of the ongoing issues that councils have, but what we’ve done since we’ve been in government, you know, there’s been more collaboration with local councils than in any time before that.

    I’ve personally met with over 250 councils either in their communities or in Canberra or at a Local Government Association conference. We have doubled Roads to Recovery funding and that means regional councils across the country have now more money than ever before to deal with road issues.

    Across Eden Monaro that’s $26.3 million extra for our local councils resulting in over $65 million for roads alone. We’ve increased road black spot funding, we’ve created the new safer local road and infrastructure program, $200 million a year, you know, we’ve been really putting our shoulder to the wheel making a difference for local councils, and just last week I was able to announce $27.2 million for Marulan Sewer Treatment Plant, you know, which is something that Council had called from but hadn’t been supported in getting.

    So, the Albanese Government takes seriously the priorities of local councils and local communities and we’ve been delivering for all of them.

    JOURNALIST: Thank you.

    MIL OSI News

  • MIL-OSI Australia: Sky News Afternoon Agenda

    Source: Australian Executive Government Ministers

    CHENG LEI: The Prime Minister has made his pitch for re-election, spelling out his second term agenda at the National Press Club. It set the scene for the campaign, the PM telling voters they have a choice between two different nations at the next election. Joining me now is Regional Development Minister, Kristy McBain. Hey there Kristy. Happy Friday to you. So how are we developing our regions to build Australia, especially going towards the future. 

    KRISTY MCBAIN: Thanks Lei, it’s great to be with you this afternoon. I’m at the Lazy George Cafe in Marulan, and we’ve made a big announcement today on the Housing Support Program. $27.2 million to help have the houses that we need to retain and attract workers into communities just like this one. When we came to government two and a half years ago, there was a skill shortage across the country, and that’s because at the state and federal level, Coalition governments had ripped money out of TAFE and they’d taken completion incentives away from apprentices. I know this firsthand because my husband and I run a small business in the construction industry. The Prime Minister’s pitch today was all about trying to continue to build those skills back in our communities, with making fee-free TAFE a permanent feature of the federal government, and also those $10,000 apprenticeship incentives. We know people are battling with the cost of living, and here’s another way that the Albanese Labor Government can commit to seeing people through their apprenticeships. $2,000 at five different points during that apprenticeship process, to help people get through what can be a tough three or four years. It’s really important that we help people build the skills that we need right across regional Australia. 

    CHENG LEI: Kristy, if you run the small business in construction, then you know the difficulties the industry faces. That is not just the labour shortage but also the land supply, the tax issue and also infrastructure that needs to be built for housing. What’s being done on that? 

    KRISTY MCBAIN: I’ve engaged with 250 councils directly, and the things that they’ve told me are that they need enabling infrastructure to get more homes on the ground quicker. That’s why we committed to the Housing Support Program. $1.5 billion helping communities build that enabling infrastructure. $27.2 million right here in Marulan to upgrade the sewerage treatment plant, so that more homes can be built in this community here. In Kempsey, it was $45 million for both water and sewerage treatment plants, so that more homes can get on the ground there. $10 million in Griffith for roads and green space, so more homes can be constructed there. We’re getting on with the job, but we’re doing it in conjunction with state and local council, because it’s really important that we’re working together. For 12 odd years that the liberal state government was in, and nearly the ten years that the former coalition government was in, there wasn’t a Housing Minister, and there weren’t any plans to help communities with this vital infrastructure. We’ve listened and we’re delivering what those local communities are asking for. 

    CHENG LEI: Tell us more about the water treatment, because I know that for a long time, water quality was quite an issue in your constituency. 

    KRISTY MCBAIN: That’s right. This project here, $27.2 million is for sewerage treatment. It will allow more homes to connect to a proper sewerage treatment option, and will also allow further land subdivisions, so that more homes will be able to connect to an upgraded sewage treatment plant. Detailed design works are currently underway, and then the local council will be working with the regulatory authorities, the Office of Water, the EPA, to make sure that plant complies with all the regulations. It’s on top of the $17.2 million I’ve just delivered down the road in the Yass Valley, where water quality was absolutely a huge issue. It’s been an issue that’s been talked about for decades, and we’ve seen press releases from a whole bunch of Liberal and National politicians, but it took a Labor Government to come in and change the guidelines to the National Water Grid to ensure that town water projects, like the Yass project, could actually get national water funding. That’s exactly what the Albanese Labor Government has delivered. $17.2 million so that people will not have to deal with brown, smelly water, which we wouldn’t expect anywhere else.

    CHENG LEI: Finally, how are you celebrating the Australia Day long weekend?

    KRISTY MCBAIN: I’m really looking forward to the Australia Day long weekend. I’ll be attending three different celebrations across my electorate. Goulburn in the morning, Captains flat in the afternoon, Queanbeyan in the evening. I’ll be heading home to my family in the evening, hopefully in time for a barbi, and hanging out with a few mates. I hope everyone has a great day, celebrates in the way they chose, and hopefully we have some nice weather so they can get out and about as well.

    CHENG LEI: Thanks so much Kristy, I was just in Queanbeyan last weekend. I enjoyed a really nice bush walk.

    KRISTY MCBAIN: We look forward to welcoming you back soon.

    CHENG LEI: Minister for Regional Development, thank you.

    MIL OSI News

  • MIL-OSI Australia: Roadmap needed to navigate the edtech landscape

    Source: Australian Education Union

    28 January 2025

    The burgeoning national edtech market must be built around high-quality resources to establish a resilient baseline for the rapid infiltration of digital resources and learning applications, say Professor Leslie Loble AM and Dr Kelly Stephens, from University of Technology (UTS) Sydney Centre for Social Justice and Inclusion.

    Loble and Stephens are the authors of a new research paper, Towards high quality in Australian educational technology, which raises concerns about the dark side of artificial intelligence (AI), including data sovereignty and safety, equity and inclusion, inherent bias, and commercial interests.

    The paper addresses concerns about public school resourcing and teacher workloads, roles and relationships with students, and generative artificial intelligence (GenAI), which is capable of mimicking human content, ideas and data, adds a layer of complexity.

    Despite the rapid growth of the market and the proliferating number of publicly available edtech apps, which number around 500,000 on Apple and Google, with more still marketed directly to schools, there is “no independent, comprehensive source of information about the quality of digitally enabled education resources in Australia”, the paper says.

    “Schools, teachers, students and their parents can find themselves having to navigate a confusing market without the time, information, or technical expertise they need to answer critical questions like:

    • -Are these tools aligned to the Australian curriculum (or local variants) and to evidence-backed approaches to teaching and learning?
    • -Are they designed to benefit the full range of learners?
    • -Who owns the data and what does that mean for data sovereignty and safety?
    • -Is there evidence that they work, and for whom?

    “In worst-case scenarios, edtech is not only ineffectual, but dangerous,” the paper says.

    Stephens says robust quality assurance (QA) can alleviate burden from teachers and schools, who should not have responsibility for making detailed and sometimes technical judgements about
    a resource’s fitness for purpose.

    The need for GenAI literacy and training for leaders, teachers, support staff, students, parents, guardians and policymakers was among the 25 recommendations of a federal parliamentary committee report, Study buddy or influencer, released in September.

    GenAI “presents exciting opportunities and yet high-stakes risks for the Australian education system”, the House of Representatives Standing Committee on Employment, Education and Training acknowledged following its inquiry into the use of GenAI.

    The recommendations included providing funding to set up virtual and physical hubs to provide expert and technical advice and support to institutions, regulating edtech companies and developers through a system-wide risks-based legal framework, and expediting the implementation of the Australian Framework for GenAI in Schools (released in January).

    Loble was an expert advisory panel member for the inquiry and is Chair of the Australian Network for Quality Digital Education (ANQDE), a cross-industry leadership group.

    “The good news is that the recommendations are substantively aligned with our QA report, and the committee has specifically called out the need to address the digital and educational divide, as well as safety and security,” she says.

    “They recognise the existing risks of these tools, which we need to mitigate, but also the risk of doing nothing – we need to be alert to both to avoid worsening Australia’s learning divide.”

    Quality assurance can support systems by providing a national process and avoiding unnecessary duplication of effort by states and territories. But states would still be able to “run their own ruler over a resource” if they wanted to assure themselves of alignment with any particular state-based criteria.

    “National quality standards mean this would be a less resource-intensive process if all the fundamentals have already been assessed,” she says.

    NSW Teachers Federation deputy president Amber Flohm agrees it would be “untenable to simply assume that school leaders, teachers and support staff possess the technical expertise, time, and resources to manage these risks on their own”.

    “Sufficient and effective regulation and scrutiny by education systems and government is the only way to ensure educational integrity, privacy and ethical concerns are balanced against commercial interests as the use of edtech and generative artificial intelligence becomes more widespread,” Flohm says.

    From trial to tool

    From Term 4, public teachers in NSW will have access to the department of education’s endorsed NSWEduChat GenAI tool, initially trialled for students in response to statewide bans on ChatGPT last year.

    The department says the trials, conducted in 50 schools, showed the tool could save time by producing student resources and automating administrative tasks, “giving teachers more time to focus on personalised learning and student interactions”.

    “NSWEduChat does not replace the valuable work of our teachers, it helps them to save time, tailor their resources, and focus on their critical work in the classroom,” says education minister Prue Car.

    Flohm says NSWEduChat was initially designed to assist with student tasks such as essay writing, and collect data on equity and data privacy, but cautions against the de-professionalisation of teachers.

    “When it comes to professional tools for teacher use, available technology should not determine what the solution is and then work back to the problem. Rather teachers should work out what they want AI to do to support their work,” she says.

    “The capacity of GenAI to create immediate lesson plans is obvious, and no doubt attractive to a time-poor profession. However, understanding how syllabus, curriculum and the associated pedagogies interact to benefit the growth of students’ knowledge and skills is the core of teachers’ intellectual labour, and this must never be reduced or outsourced to technology.”

    Testing the tools

    Though work is being done at all levels, national standards are needed, and teachers must be brought in to help with evaluation. They will need to ensure GenAI tools align with their schools’ needs, including student literacy and learning levels and backgrounds, and that teacher knowledge and skill is used to turn data into effective classroom practice.

    Dr Kelly Stephens says there is “currently nothing in the way of national standards, apart from ESA’s Safe Technology for Schools program, recently updated for GenAI”.

    She says evaluation is benefiting from reviews across diverse fields, including by teachers, edtech and learning media experts, child development scholars, instructional designers, K-12 subject matter experts, and school technology leaders.

    “Our consultations with teachers have suggested that rather than diminishing the importance of teacher professionalism, edtech highlights it.

    “This might include using an online curriculum application to help cater to a very broad range of learning levels in a classroom and rely on their breadth and depth of subject expertise to provide point-in-time support and monitoring of student progress,” says Stephens.

    “Or using generative image software to improve engagement with school and learning, build digital literacy and super-charge English language acquisition by recent migrants and refugees.”

    Equity and inclusion must remain a significant priority in the evaluation process, particularly as GenAI has the potential to increase disadvantage through cost, literacy and digital access.

    “If we drop our guard on this, there is every chance that better resourced students, families, schools and systems will be better equipped to assess, explore, and benefit from existing and emerging digital tools,” says Stephens.

    “This absolutely requires adequate and equitable resourcing at the school level. It also invites governments to consider how best to use other levers at their disposal, to bend the market toward equity, such as quality standards and procurement processes.”

    Statewide challenges

    AEU Victorian Branch vice president, secondary, Marino D’Ortenzio warns that despite the national framework for GenAI, there are different views on its use and implementation between jurisdictions in Australia. “For example, in NSW AI is permitted to be used to create newsletters, whereas in Victoria this is explicitly forbidden in the Victorian government school system policy.”

    D’Ortenzio says that as GenAI and machine learning systems become ubiquitous, system-wide training will be vital to prepare staff adequately and schools must be given the means to analyse impact on teacher workload.

    “We recognise that GenAI is here and, that students and teachers are using it. This means our approaches to learning tasks have already begun to alter. Teachers must be at the centre of decisions relating to AI and pedagogy in schools as it expands in its scope and use,” he says.

    “We know of schools that are changing the way they approach tasks to ensure that GenAI does not give students who use it an advantage. Some are returning to hand-written assessment pieces. Others are setting tasks that assume GenAI is going to be used, by getting students to identify how they might ask a GenAI model to produce a result, and then analysing the result to examine where they are flawed.

    “The department of education and training must be accountable for the implementation, use and decisions of GenAI in schools. This accountability should be set out in clear, publicly available guidelines for schools and their communities.”

    D’Ortenzio also says commercial businesses who see an opportunity for profit making must be deprioritised behind educational programs, pedagogical models, student development and student achievement.

    Ad-hoc regulation

    Use of AI technology in Queensland remains ad-hoc and regulation of platforms and guidelines for digital technology have not kept pace with change, says Queensland Teachers’ Union honorary vice president Josh Cleary.

    “There is an urgent need for the profession to adopt a decision-making framework and ensure there is industrial consultation that addresses the full suite of legal, professional and educational issues,” he says.

    When the Queensland Department of Education began consultation in 2020 it assumed teachers would familiarise themselves with new digital technologies outside of working hours.

    “The QTU successfully negotiated an allocation of additional funds for the purpose of releasing teachers to undertake training. The rollout of the professional training was not perfect, but the approach to consultation between the parties has significantly improved,” he says.

    Excessive data entry and unreasonable quantities of email are two common examples of work intensification that detract from teachers’ time to plan, implement, and evaluate effective teaching and learning practices, and the use of AI has so far added to teacher workloads rather than allow teachers to focus on what they do best: teaching students.

    “A future-focused pedagogy might use GenAI technology as a platform, but classrooms should not become subordinate to technology’s use. Teachers must be given training to help them ensure students learn to maintain a critical awareness of information and make discerning choices about the use of GenAI,” Cleary says.

    This article was originally published in the Australian Educator, Summer 2024

    MIL OSI News

  • MIL-OSI United Kingdom: Pension reforms to go further to unlock billions to drive growth and boost working peoples’ pension pots

    Source: United Kingdom – Executive Government & Departments

    Working people and businesses are set to benefit from new rules that will give more flexibility over how occupational defined benefit pension schemes are managed, as the government continues to remove blockages that are inhibiting its growth agenda that will improve lives of working people across the UK.

    • Prime Minister and Chancellor to tell leading CEOs that Britain is back and open for business.
    • Changes to pension rules will allow trapped surplus funds to be invested in the wider economy, fuelling economic growth.
    • Move is part of government action to remove blockages that are stopping growth – from regulation to planning processes.

    Working people and businesses are set to benefit from new rules that will give more flexibility over how occupational defined benefit pension schemes are managed, as the government continues to remove blockages that are inhibiting its growth agenda that will improve lives of working people across the UK. 

    Hosting a meeting with leaders of Britain’s biggest businesses in the City of London today (Tuesday 28 January), the Prime Minister and the Chancellor will set out the details of changes and tell some of the country’s leading CEOs that Britain is back and open for business.

    At the roundtable, the PM and Chancellor will outline how restrictions will be lifted on how well-funded, occupational defined benefit pension funds that are performing well will be able to invest their surplus funds. 

    This follows action taken by the government last week to bring a renewed focus on growth from some of the UK’s biggest regulators, a shake-up to legal challenges on planning applications, and new “brownfield passports” to speed up housing in commuter hotspots.

    Prime Minister, Keir Starmer said: 

    The number one mission of my government is to secure growth, drive higher living standards for everyone, and get more money into people’s pockets.

    To achieve the change our country needs requires nothing short of rewiring the economy. It needs creative reform, the removal of hurdles, and unrelenting focus. Whether it’s how public services are run, regulation or pension rules, my government will not accept the status quo. Today’s changes will unlock billions of investment, pushing forward in delivering my Plan for Change.

    Chancellor of the Exchequer, Rachel Reeves said:

    I know this government and businesses are united on growth being the top priority for our economy, which is why I am fighting every day to tear down the biggest barriers to growth, taking on regulators, planning processes and opposition to this urgent mission.

    The Prime Minister and Chancellor will tell CEOs from some of the UK’s most successful companies that that the government is seeking to create the best possible conditions for the private sector to thrive. They will promise to work in partnership with businesses, to deliver high-quality jobs across the country, and the economic growth that will fund the schools, hospitals and roads that we all rely on.

    Pension trustees and the sponsoring employers could then use this money to increase the productivity of their businesses – to boost wages and drive growth or unlock more money for pension scheme members. 

    High growth and more productive businesses boost the size of the economy which in turn will fund our vital public services.

    This more efficient approach demonstrates that the government has been listening to business, and will give businesses more flexibility, allowing trapped surplus funds to be invested into the wider UK economy, or given to scheme members as additional benefits.

    Where trustees agree to share a portion of scheme surplus with a sponsoring employer, the employer may choose to invest these funds in their core business, for example to purchase equipment or supplies, and/or provide additional benefits to members of the pension scheme.

    Approximately 75% of schemes are currently in surplus, worth £160 billion, but restrictions have meant that businesses have struggled to invest them.

    These reforms build on the Chancellor’s Mansion House reforms which will create pension megafunds as part of the biggest set of pension reforms in decades, unlocking billions of pounds of investment in exciting new businesses and infrastructure and local projects.     

    Over £1.1 trillion is held by pension funds in the UK and defined contribution pension schemes are set to manage £800 billion worth of assets by the end of the decade. This Government is determined to encourage these pension funds to deliver investment and drive economic growth – which is the only way to make people better off.    

    Jonathan Lipkin, Director of Policy, Strategy & Innovation at the Investment Association said:

    Unlocking surplus capital from defined benefit schemes has the potential to both boost UK growth by opening up investment opportunities for companies and their stakeholders, as well as the possibility of higher pensions for scheme members. With around £1.1 trillion in assets, defined benefit schemes already make a significant contribution to the funding of the UK economy and public services. 

    With the right guardrails in place, the government’s proposals could help channel more funding into the economy, by enabling schemes to invest more widely and take on greater risk, while allowing for members to receive an uplift to pension benefits.

    Zoe Alexander, Director of Policy and Advocacy at the Pensions and Lifetime Saving Association, said: 

    The PLSA backs surplus release, with the right protections in place to ensure member benefits are secure. Surpluses could be used to increase DB scheme benefits or could be redirected to fund contributions to sponsoring employers’ defined contribution workplace schemes.

    Lowering the legislative threshold for allowing returns of surplus could potentially encourage trustees, in conjunction with their employers, to adopt a more ambitious mindset and take on slightly riskier investment strategies for their DB assets, including greater investment in UK assets.

    Patrick Heath-Lay, Chief Executive Officer for The People’s Pension, said:

    It is positive news to see the government is looking at the pension industry as a whole. This will help unlock more of the £2.9trillion that is held in UK pension savings, to benefit savers and the economy alike.

    We look forward to other pension schemes following our plans and outlining how they will invest in private markets.

    The roundtable discussion will focus on the government’s partnership approach to growth with business, including how regulation can better support the Growth Mission, and the role of business in achieving the UK’s ambitions in AI which the Prime Minister unveiled earlier this month. Every regulator has a role to play in the Growth Mission and the Chancellor is hosting a series of roundtables with the 17 regulators that the Prime Minister wrote to in December, to discuss their proposals to support growth in the coming year. 

    The meeting with CEOs comes days after the Chancellor’s return from the World Economic Forum, where she pitched Britain’s investment credentials and let global business leaders know that the UK is open for business again. She championed early reforms to planning, pensions, and regulation that make it easier to do business in Britain and remove barriers investors from overseas face.

    On Wednesday, the Chancellor will make a speech where she will set out plans to push through further planning reforms to get Britian building again, rip up regulatory barriers so we can encourage more investment into the UK and announcements to boost trade and investment.

    The government will set out the details of the surplus policy in its response to the Options for Defined Benefits consultation, due this Spring.

    Further information: 

    • Currently DB scheme surplus can only be accessed where schemes passed a resolution by 2016, so not all schemes can access surplus even if trustees and sponsors both want to do so. 
    • Legislative changes could enable all DB schemes to change their rules to permit surplus extraction where there is trustee-employer agreement. This allows trustees to assess the suite of options available in striking a deal with employers on how best scheme members can also benefit – linked to improving member outcomes. 
    • Trustees have an overarching fiduciary duty to act in the best interests of their members. When considering surplus extraction, trustees must fund the scheme and invest its assets in a way that leads to members receiving their full benefits.

    Updates to this page

    Published 28 January 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Press release: Pension reforms to go further to unlock billions to drive growth and boost working peoples’ pension pots

    Source: United Kingdom – Prime Minister’s Office 10 Downing Street

    Working people and businesses are set to benefit from new rules that will give more flexibility over how occupational defined benefit pension schemes are managed, as the government continues to remove blockages that are inhibiting its growth agenda that will improve lives of working people across the UK.

    • Prime Minister and Chancellor to tell leading CEOs that Britain is back and open for business.
    • Changes to pension rules will allow trapped surplus funds to be invested in the wider economy, fuelling economic growth.
    • Move is part of government action to remove blockages that are stopping growth – from regulation to planning processes.

    Working people and businesses are set to benefit from new rules that will give more flexibility over how occupational defined benefit pension schemes are managed, as the government continues to remove blockages that are inhibiting its growth agenda that will improve lives of working people across the UK. 

    Hosting a meeting with leaders of Britain’s biggest businesses in the City of London today (Tuesday 28 January), the Prime Minister and the Chancellor will set out the details of changes and tell some of the country’s leading CEOs that Britain is back and open for business.

    At the roundtable, the PM and Chancellor will outline how restrictions will be lifted on how well-funded, occupational defined benefit pension funds that are performing well will be able to invest their surplus funds. 

    This follows action taken by the government last week to bring a renewed focus on growth from some of the UK’s biggest regulators, a shake-up to legal challenges on planning applications, and new “brownfield passports” to speed up housing in commuter hotspots.

    Prime Minister, Keir Starmer said: 

    The number one mission of my government is to secure growth, drive higher living standards for everyone, and get more money into people’s pockets.

    To achieve the change our country needs requires nothing short of rewiring the economy. It needs creative reform, the removal of hurdles, and unrelenting focus. Whether it’s how public services are run, regulation or pension rules, my government will not accept the status quo. Today’s changes will unlock billions of investment, pushing forward in delivering my Plan for Change.

    Chancellor of the Exchequer, Rachel Reeves said:

    I know this government and businesses are united on growth being the top priority for our economy, which is why I am fighting every day to tear down the biggest barriers to growth, taking on regulators, planning processes and opposition to this urgent mission.

    The Prime Minister and Chancellor will tell CEOs from some of the UK’s most successful companies that that the government is seeking to create the best possible conditions for the private sector to thrive. They will promise to work in partnership with businesses, to deliver high-quality jobs across the country, and the economic growth that will fund the schools, hospitals and roads that we all rely on.

    Pension trustees and the sponsoring employers could then use this money to increase the productivity of their businesses – to boost wages and drive growth or unlock more money for pension scheme members. 

    High growth and more productive businesses boost the size of the economy which in turn will fund our vital public services.

    This more efficient approach demonstrates that the government has been listening to business, and will give businesses more flexibility, allowing trapped surplus funds to be invested into the wider UK economy, or given to scheme members as additional benefits.

    Where trustees agree to share a portion of scheme surplus with a sponsoring employer, the employer may choose to invest these funds in their core business, for example to purchase equipment or supplies, and/or provide additional benefits to members of the pension scheme.

    Approximately 75% of schemes are currently in surplus, worth £160 billion, but restrictions have meant that businesses have struggled to invest them.

    These reforms build on the Chancellor’s Mansion House reforms which will create pension megafunds as part of the biggest set of pension reforms in decades, unlocking billions of pounds of investment in exciting new businesses and infrastructure and local projects.     

    Over £1.1 trillion is held by pension funds in the UK and defined contribution pension schemes are set to manage £800 billion worth of assets by the end of the decade. This Government is determined to encourage these pension funds to deliver investment and drive economic growth – which is the only way to make people better off.    

    Jonathan Lipkin, Director of Policy, Strategy & Innovation at the Investment Association said:

    Unlocking surplus capital from defined benefit schemes has the potential to both boost UK growth by opening up investment opportunities for companies and their stakeholders, as well as the possibility of higher pensions for scheme members. With around £1.1 trillion in assets, defined benefit schemes already make a significant contribution to the funding of the UK economy and public services. 

    With the right guardrails in place, the government’s proposals could help channel more funding into the economy, by enabling schemes to invest more widely and take on greater risk, while allowing for members to receive an uplift to pension benefits.

    Zoe Alexander, Director of Policy and Advocacy at the Pensions and Lifetime Saving Association, said: 

    The PLSA backs surplus release, with the right protections in place to ensure member benefits are secure. Surpluses could be used to increase DB scheme benefits or could be redirected to fund contributions to sponsoring employers’ defined contribution workplace schemes.

    Lowering the legislative threshold for allowing returns of surplus could potentially encourage trustees, in conjunction with their employers, to adopt a more ambitious mindset and take on slightly riskier investment strategies for their DB assets, including greater investment in UK assets.

    Patrick Heath-Lay, Chief Executive Officer for The People’s Pension, said:

    It is positive news to see the government is looking at the pension industry as a whole. This will help unlock more of the £2.9trillion that is held in UK pension savings, to benefit savers and the economy alike.

    We look forward to other pension schemes following our plans and outlining how they will invest in private markets.

    The roundtable discussion will focus on the government’s partnership approach to growth with business, including how regulation can better support the Growth Mission, and the role of business in achieving the UK’s ambitions in AI which the Prime Minister unveiled earlier this month. Every regulator has a role to play in the Growth Mission and the Chancellor is hosting a series of roundtables with the 17 regulators that the Prime Minister wrote to in December, to discuss their proposals to support growth in the coming year. 

    The meeting with CEOs comes days after the Chancellor’s return from the World Economic Forum, where she pitched Britain’s investment credentials and let global business leaders know that the UK is open for business again. She championed early reforms to planning, pensions, and regulation that make it easier to do business in Britain and remove barriers investors from overseas face.

    On Wednesday, the Chancellor will make a speech where she will set out plans to push through further planning reforms to get Britian building again, rip up regulatory barriers so we can encourage more investment into the UK and announcements to boost trade and investment.

    The government will set out the details of the surplus policy in its response to the Options for Defined Benefits consultation, due this Spring.

    Further information: 

    • Currently DB scheme surplus can only be accessed where schemes passed a resolution by 2016, so not all schemes can access surplus even if trustees and sponsors both want to do so. 
    • Legislative changes could enable all DB schemes to change their rules to permit surplus extraction where there is trustee-employer agreement. This allows trustees to assess the suite of options available in striking a deal with employers on how best scheme members can also benefit – linked to improving member outcomes. 
    • Trustees have an overarching fiduciary duty to act in the best interests of their members. When considering surplus extraction, trustees must fund the scheme and invest its assets in a way that leads to members receiving their full benefits.

    Updates to this page

    Published 28 January 2025

    MIL OSI United Kingdom

  • MIL-OSI New Zealand: Awards and Recognition – Site Safe Announces 2025 Health and Safety Award Finalists

    Source: Site Safe

    Site Safe today announced the finalists for its 2025 Health and Safety Awards, celebrating excellence in workplace safety across Aotearoa New Zealand.
    The finalists, representing a diverse range of industries, will now compete at the largest health and safety event of the year, the Evening of Celebration, for top honours at a gala evening held at the Due Drop Event Centre in Auckland on 5 March 2025, attended by hundreds of industry leaders and safety professionals.
    “We are incredibly proud to announce these outstanding finalists,” said Brett Murray, Chief Executive of Site Safe.
    “The record number of entries received this year underscores the importance industry places on effectively managing health and safety risks in their workplaces. It’s inspiring to see the dedication and innovation showcased by these individuals, teams, and organisations.”
    The judging panel, comprised of respected industry representatives and safety professionals, were highly impressed by the calibre of entries.
    The judges commented, “Selecting the finalists was a challenging task, as the level of innovation, dedication, and positive impact demonstrated by all applicants was truly exceptional.”
    Here are the 2025 Site Safe Award Finalists:
    The  Safety Innovation Award:
    • Beon  Energy Solutions: Beon’s new Pile Extractor revolutionises solar farm construction by safely and efficiently removing piles. Unlike traditional methods, which are dangerous and inefficient, the Pile Extractor is operated by one person, applies controlled forces, and eliminates the need for heavy machinery. This innovation enhances worker safety, increases productivity, and promotes a safer work culture within the renewable energy sector.
    • Fulton  Hogan: The SH1 Brynderwyns Recovery Project faced challenges due to the terrain, environmental concerns, and a major slip. Despite these obstacles, the team innovated, employing remote-controlled machinery to safely clear unstable slopes. This approach ultimately ensured a safer and more efficient recovery effort.
    • Traffic  Safe NZ: Traffic Safe developed a robotic system to eliminate the dangerous manual placement of road cones. This system uses cameras, sensors, and a robotic arm mounted on a truck to automatically deploy and retrieve cones, significantly reducing worker risk.
    The  Safety Leadership Award:
    • The  DEI team, New Zealand Defence Force: Defence Estate and Infrastructure (DEI) manages health and safety for numerous contractors across NZ. DEI developed the CHESS framework, outlining minimum H&S requirements for all contractors, with a focus on high-risk work. This framework is successfully implemented and fully supported by NZDF leadership. DEI prioritises H&S in all projects, striving to ensure all personnel return home safely each day.
    • Yolanda  Oosthuizen – Horizon Energy Group: As the Horizon Energy Group GM for HSEQ, Yolanda has led safety, wellness, quality, and sustainability. She champions their ESG agenda, fostering a Switched-ON safety culture. Her focus is on visionary leadership, aligning safety with organisational goals. Effective communication and measurable impact drive initiatives like the implementation of the ecoPortal Safety System. She also mentors’ future leaders, positioning Horizon as an industry leader in safety and sustainability.
    • Jamie  Greentree – Kinetic Electrical Wellington: Jaime started an electrical business with minimal health and safety focus initially. However, post-COVID, Jaimie prioritised compliance, investing in staff training and achieving a NZ Certificate in Workplace Health and Safety Practice (Level 3). As the sole director, Jaimie led this change, influencing other franchisees. As a small business, he adapted to the economic climate by diversifying.
    The  Safety Contribution Award (Team):
    • Canterbury  Aluminium Ltd: Chris and Nicky Averill acquired Canterbury Aluminium in 2022, prioritising staff health and safety. They believe a strong health and safety culture leads to happy staff and satisfied clients. The company’s Health & Safety Committee fosters a collaborative environment where all employees are encouraged to prioritise safety in their work. This award nomination recognises the committee’s efforts to improve health and safety outcomes for all staff.
    • Mason  Clinic Project – Southbase: Southbase Construction implemented numerous safety initiatives on the Mason Clinic project, fostering a strong safety culture. These measures included Wellbeing and Suicide Prevention, Health15 Program, Collaboration with Safety Brands and Organisations, Working at Height/Dropped Objects, Emergency Scenario Drills, and Health and Safety Recognition.
    • Tradestaff  Group Ltd: Tradestaff’s Safety Team has successfully fostered a safety-first culture within the construction sector. They’ve addressed challenges specific to on-hire labour, including short-term placements and diverse demographics. By focusing on candidates, clients, and consultants, they’ve implemented initiatives that promote safer onsite outcomes and drive cultural change in health and safety.
    The  Safety Contribution Award (Individual):
    • Glen  Sturgess, Naylor Love: Glen is a dedicated Health & Safety Champion. He consistently goes above and beyond to ensure site safety. Glen excels in logistics, effectively communicating safe movement of vehicles and personnel.
    • Shelley  Compston – Apprentice Training Trust: Shelley is a Health & Safety Co-ordinator and excels in improving workplace safety. She fosters a strong safety culture, inspires colleagues, and drives continuous improvement. Through effective collaboration and communication, she encourages best practices among hosts, staff, and apprentices. Shelley’s leadership, innovation, and dedication to protecting workers are exemplary.
    • Mark  Nicholas – Accent Construction: Mark utilises weekly toolbox meetings to upskill his construction team beyond basic safety. He develops workshops and bulletins on diverse topics like site access, hot works, and mental wellbeing. These initiatives enhance worker awareness and knowledge, leading to a stronger safety culture within the company and among subcontractors. Workers are better equipped to identify and manage hazards onsite.

    The  Mental Health and Wellbeing Award:

    • Workforce  Central Dunedin: Dunedin Hospital Outpatients workers enjoy exceptional onsite care. Services include free haircuts, health screenings, physio, GP consultations, and mental health support. Recreational activities like cornhole and billiards are provided. The site promotes a positive work-life balance and worker well-being through initiatives like Maori Language Week and Suicide Awareness Day. Workers consistently praise the unique and supportive environment.
    • Anita  Teo-Tavita – Programmed: Anita leads the Programmed Mental Health First Aid training, both internally and in the community. She’s a key figure in promoting worker wellbeing, taking a holistic approach. Anita not only facilitates training but also supports workers with initiatives outside of work hours, demonstrating her commitment to their overall wellbeing.
    • Tūpore: At Tūpore, prioritising mental wellbeing is core. They have created a supportive whanau culture, with initiatives like the “Raranga Oranga” role and the Big Buds programme. These efforts, combined with tikanga Māori practices and community partnerships, foster a thriving and connected workforce. This focus on mental health has significantly improved employee wellbeing and reduced the impact of high suicide rates in Hawke’s Bay.

    The  Future Safety Leader Award:

    • Aimee  Daw – Programmed: Aimee, initially a HSEQ Administrator at AIMs, quickly advanced to HSEQ Coordinator at Programmed, providing key HSEQ support. Despite her short tenure and lack of HSEQ background, her contributions have been significant, particularly in improving safety systems and processes. She is recognized for her dedication, resilience, and impactful safety leadership.
    • Fern  Harper – Naylor Love: Fern’s outstanding contributions to health & safety and her dedication, leadership, and commitment to safety excellence have inspired others. Fern’s inclusive approach and proactive nature make her an exceptional Emerging Practitioner in the field of health and safety.
    • Fiona  Brabant – Cook Brothers Construction: Fiona, or Fi, is a passionate Health & Safety leader at Cook Brothers Construction in Queenstown and Wanaka. Joining recently, she prioritises team wellbeing, viewing colleagues as people, not just workers. Her background in health drives innovation and motivation. From onsite care to wellness initiatives, Fi strives to ensure everyone returns home safely, despite the challenges.

    The Site Safe Awards recognise and celebrate individuals, teams, and organisations that have made significant contributions to improving workplace safety in New Zealand. These awards provide valuable recognition and inspire others to prioritise safety in their workplaces. About Site Safe Site Safe is a leading provider of health and safety training and consultancy services in New Zealand. We are committed to empowering New Zealanders to work safely and return home safely every day. For more information about Site Safe’s Evening of Celebration, click HEREhttps://www.sitesafe.org.nz/about/news-and-events/events/2025-auckland-evening-of-celebration/

    MIL OSI New Zealand News

  • MIL-OSI United Kingdom: AI sensors on fridges and kettles helping vulnerable people to live independently

    Source: United Kingdom – Executive Government & Departments 2

    Councils are leveraging AI and technology to enhance public services, save money, and improve living standards, aligning with government plans for £45 billion in efficiency savings under the Plan for Change.

    10 records of how local councils use AI to help local residents and save money.

    • From estimating budgets and improving care, to getting people new bins more quickly, new records reveal how councils are using AI and tech to help local residents and save money
    • Follows government announcing plans to put technology to work across public services, targeting £45 billion in efficiency savings
    • Innovations demonstrate the potential for AI and technology to improving public services and living standards, delivering on Plan for Change

    Local councils are picking up the AI mantle to help unleash this revolutionary technology across the UK – to turbocharge the Plan for Change and deliver a decade of national renewal.

    The latest transparency data – published by the Department for Science, Innovation and Technology (DSIT) – shows that councils are wasting no time in putting the weight of the public sector behind AI and finding new and innovative ways to make it work for working people.

    It shows that AI is being used to identify when a pensioner has had a fall, to stop people fall into rent arrears, to map which houses need loft insulation, to give people bigger bins, and – instead of taking people’s jobs – to help them find work in social care.

    The publication of records follows the Technology Secretary setting out a blueprint for how his department will help the public sector use technology to transform public services, targeting £45 billion in potential productivity savings.

    The plan will see a new team, housed in the Department for Science, Innovation and Technology (DSIT), cut across barriers to join up public services, including those provided by local councils, so people do not have to tell dozens of organisations the same thing.

    The team will first start by looking at services used by people with long term health conditions across organisations like the NHS, Department for Work and Pensions, local councils and more.

    As the digital centre of government, the Department for Science, Innovation and Technology (DSIT) will champion innovation, like that shown by the London Borough of Sutton, and help to spread it around the country so it can be used to improve public services and drive the Government’s Plan for Change.

    Speaking from a trip to see the Tech Enabled Care solution in Sutton, AI and Digital Government Minister Feryal Clark said:

    AI has immense potential to make our lives easier and improve public service. The technology we are together sharing with the public today includes shining examples of innovation that does everything from speeding up crucial applications for bigger bins, to helping people live independently.

    Being transparent with the detail of how we are putting AI to work in public services is crucial to our plans to use technology to improve public services, which is a key part of our Plan for Change.

    Other initiatives include AI-enabled fridge sensors and connected kettles are being used to detect changes in the daily routines of vulnerable people that could indicate a decline in health and ultimately lead to a fall, thanks to technology used by the London Borough of Sutton.

    Helping people who would otherwise need additional care, the technology uses sensors to spot changes in behaviour, like missed meals, a skipped cup of tea or whether a door has been left open for too long, before AI analysis is used to detect whether something might be wrong. An alert is then sent to close family members or carers so they can stop by to check on how they are and offer additional support if needed.

    Details of the technology, which was developed by Loughborough tech company The Access Group and Medequip Connect, have been released today alongside nine other public sector organisations setting out how they use AI and algorithmic tools. 

    Councillor Marian James, Lead Member for People Services at the London Borough of Sutton said:

    Research shows that people live well for longer when they can maintain their sense of independence and dignity by remaining in their own home. That’s why we are using the latest digital technology to enable our residents to continue living their lives independently within the comfort of their own home, but with the peace of mind that support is available when they need it. 

    The pressures facing our adult social care services show no sign of easing, so I’m proud the Council is taking this forward-thinking approach to find solutions that will reduce the pressure on the system, as well as being beneficial for our residents.

    Among the records published today, West Berkshire Council also shared how it is using technology to help residents get a bigger black bin more quickly, if they are eligible.

    A tool, built entirely in-house by the council, takes in information from an online application form, like the number of people living in a home, and the number of children in nappies, to automatically rule out people who might not be eligible for a bigger bin.

    Though, people whose applications are declined can still appeal the crucial decision, and have a human quickly look at their request. By speeding up the processing of requests, it makes sure families with newborns can get a bigger bin to handle the increased waste much more quickly.

    Other records published today detail chatbots used to help people apply for social care qualifications in Wales, and algorithmic tools to help councils more accurately predict the cost of adult care, so they can better manage their budgets.

    Minister of State for Care, Stephen Kinnock said:

    Around a third of adults over 65 will have at least one fall a year. This can be devastating and doesn’t just risk broken bones, but a loss of confidence and independence in older people.

    I am determined that we harness cutting-edge technology to protect them – and this groundbreaking AI will help to stop accidents before they happen and cut down on hospital visits.

    Our Plan for Change will drive forward this kind of innovation, transform the NHS, and ensure people can live safely and independently.

    Andy Sparkes, Managing Director, Local Government, The Access Group, said:

    We’re delighted to support Sutton Council’s ambitious approach to AI and technology-enabled care, which offers a personalised service that enables individuals to live independently for longer.

    AI and machine learning have the potential to enable all local authorities to shift their approach to care from the traditional reactive model to a more proactive approach that allows for early intervention. By scaling these proven examples of success, councils can reduce the pressure on current services and empower residents to remain in their homes for as long as possible.

    Notes to editors

    Full list of transparency records in this bundle.

    Dorset City Council

    Formulate for Adult Care – estimates financially sustainable personal budgets for adults with eligible care and support needs.

    Camden Council

    RentSense AI Tool Pilot – analyses council housing tenants’ rent transactions to prioritise arrears cases for management.

    Ealing Council

    Adult Social Care Annual Financial Expenditure Forecast – forecasts annual adult social care expenditure more accurately to make it easier for services to allocate budgets.

    Greater London Authority

    London Building Stock Model 2 – predicts missing information about London’s properties to help inform housing improvement programmes and decisions that reduce carbon emissions and energy bills.

    London Borough of Sutton

    Access Assure, Technology Enabled Care (TEC) – helps residents live independently by monitoring their data and alerting carers and family/friends where necessary.

    Social Care Wales

    Qualifications Chatbot – helps anyone with an interest in social care qualifications find appropriate qualification and information to work in the social care, early years, and childcare sector in Wales.

    Warwickshire County Council

    Domestic EPC Estimates – estimates domestic energy performance certificates (EPC) of households that have a missing EPC to help support better outcomes for citizens.

    West Berkshire Council

    Apply for a Larger Rubbish Bin – assesses whether applicants for a larger household waste container meet the minimum threshold set out in the council’s policy to provide a faster, improved service.

    London Borough of Barnet

    Ami Chatbot – a chatbot on the council’s website to provide better customer experience.

    Bristol City Council

    Not in Education, Employment, or Training (NEET) – assesses the risk of an individual becoming NEET to enable safeguarding professionals deliver timely and targeted interventions and support.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 300

    Updates to this page

    Published 28 January 2025

    MIL OSI United Kingdom

  • MIL-OSI USA: Hickenlooper, Colleagues Reintroduce Bill to Curb AI Deepfakes, Protect Our Children

    US Senate News:

    Source: United States Senator for Colorado John Hickenlooper
    TAKE IT DOWN Act would crack down on malicious uses of AI and protect victims of “deepfake porn”
    WASHINGTON – Last week, U.S. Senator John Hickenlooper joined a bipartisan group of Senate colleagues to reintroduce the Tools to Address Known Exploitation by Immobilizing Technological Deepfakes on Websites and Networks (TAKE IT DOWN) Act. The legislation would criminalize the publication of non-consensual, intimate imagery (NCII), including AI-generated “deepfakes,” and require social media platforms and online sites to remove NCII within 48 hours of notice.
    “It’s too easy for someone to misuse AI to generate harmful fake images depicting real people – including minors,” said Hickenlooper. “This bill will protect our children’s privacy and safety.”
    New generative artificial intelligence tools are able to create lifelike, but fake, imagery depicting real people, known as deepfakes. Deepfakes have recently been used to target minors, including incidents where classmates used AI tools to create sexually explicit images of other classmates that they then shared on social media.
    The TAKE IT DOWN Act protects Americans by making it unlawful for a person to knowingly publish sexually explicit deepfake images of an identifiable individual, and requiring social media companies and websites to remove the images promptly.
    Specifically, the TAKE IT DOWN Act would:
    Criminalize the publication of NCII in interstate commerce. The bill makes it unlawful for a person to knowingly publish NCII on social media and other online platforms. NCII is defined to include realistic, computer-generated pornographic images and videos that depict identifiable, real people. The bill also clarifies that a victim consenting to the creation of an authentic image does not mean that the victim has consented to its publication.
    Protect good faith efforts to assist victims. The bill permits the good faith disclosure of NCII, such as to law enforcement, in narrow cases.
    Require websites to take down NCII upon notice from the victim. Social media and other websites would be required to have in place procedures to remove NCII, pursuant to a valid request from a victim, within 48 hours. Websites must also make reasonable efforts to remove copies of the images. The FTC is charged with enforcement of this section.
    Protect lawful speech. The bill is narrowly tailored to criminalize knowingly publishing NCII without barring lawful speech. The bill respects first amendment protections by requiring that computer-generated NCII meet a “reasonable person” test. Meaning, it must appear to realistically depict an individual.
    Hickenlooper previously cosponsored the bill in the 118th Congress. Last Congress, the TAKE IT DOWN Act passed both the Senate Commerce Committee and the full Senate. It has widespread support from over 100 organizations, including victim advocacy groups, law enforcement, and tech industry leaders.
    Full text of the bill available HERE.

    MIL OSI USA News

  • MIL-OSI: Hola Prime Announces Exclusive Prime Bowl 5-Day Trading Competition Challenge

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, Jan. 27, 2025 (GLOBE NEWSWIRE) — Hola Prime, a leading prop trading firm, is set to launch its Prime Bowl 5-Day Trading Challenge, an innovative competition designed to challenge traders in an intense, high-stakes environment. This unique event, the first of its kind in the trading community, combines the fast-paced world of trading with the global excitement surrounding the 59th NFL Super Bowl. Unlike traditional long-duration trading contests, the Prime Bowl focuses on a short five-day timeframe, providing an opportunity for traders to show their skills under the thrill of rapid decision-making and expected market volatility.

    The decision to create a 5-day competitive trading format is rooted in the belief that it simulates real-world trading conditions where traders need to act quickly and efficiently. With  $50,000 as the initial balance and leverage up to 50:1, participants will be required to adjust their strategies in real-time and capitalize on market fluctuations. The five-day period is designed to bring out the best in traders, pushing them to make calculated moves and manage risk while responding to any sudden shifts in the market. This short, high-intensity format offers a rare opportunity for traders to experience the fast-paced nature of real trading, where timing and precision are essential for success.

    In addition to the competitive aspect, the Prime Bowl 5-Day Trading Challenge is strategically aligned with the globally recognized NFL Super Bowl, which has a significant economic impact across industries, particularly in the Forex market. The increased consumer spending power, advertising revenues, and global viewership during the Super Bowl potentially influence currency values, particularly the US dollar. By running the competition alongside this event, Hola Prime offers traders a unique opportunity to test their skills while crossing market conditions influenced by one of the world’s most-watched sporting events. This added layer of expected volatility provides a real-time backdrop for traders to engage with currency pairs and make decisions based on live economic shifts.

    “We believe the 5-day trading competition format is an ideal time period for traders to trade. It creates a high-stakes trading environment” said Mr Somesh Kapuria, CEO of Hola Prime. “By limiting the competition to five days, we are encouraging participants to focus on their strategies, sharpen their decision-making skills, and see immediate results from their trades. The alignment with the Super Bowl allows traders to tap into the economic activity surrounding the event, giving them a chance to apply their strategies to global market movements”, he added.

    Participants in the competition will not only compete for exciting prizes but will also have the chance to engage with a vibrant community of traders, exchanging tips, strategies, and insights through online forums and social media. The competition is open to traders of all experience levels, and with no KYC required to enter, anyone can sign up but the competition is thoroughly monitored to ensure no notorious activity.

    The competition will take place on the Match Trader platform, where traders can track their progress, adjust their strategies, and climb the leaderboard.

    Registration for the Prime Bowl 5-Day Trading Challenge opens on January 26th, 2025, at 00:00 UTC and closes on February 2nd, 2025, at 21:00 UTC. The competition begins on February 2nd, 2025, at 22:00 UTC and ends on February 7th, 2025, at 22:00 UTC. To participate, traders simply need to log in or sign up at Hola Prime, visit the competition tab, and click to register. With the chance to win exciting prizes and gain valuable experience in a competitive setting, the Prime Bowl 5-Day Trading Challenge promises to be a must-experience event for traders.

    Social Links

    Facebook: https://www.facebook.com/profile.php?id=61565158992654&sk=about_contact_and_basic_info

    Instagram: https://www.instagram.com/holaprime_global/

    YouTube: https://www.youtube.com/channel/UCtVEJa1Ml132Be7tnk-DjeQ

    LinkedIn: https://www.linkedin.com/company/hola-prime/?viewAsMember=true

    Twitter: https://x.com/HolaPrimeGlobal

    Discord: https://discord.gg/TJ7TcHPXBf

    Quora: https://www.quora.com/profile/HolaPrime/

    Reddit: https://www.reddit.com/user/HolaPrime/

    Medium: https://medium.com/@social_46267

    Media Contact

    Brand: Hola Prime

    Contact: Media Team

    Email: marketing@holaprime.com

    Website: https://holaprime.com/

    The MIL Network

  • MIL-OSI: IBEX Limited to Announce Second Quarter 2025 Financial Results on February 6th, 2025

    Source: GlobeNewswire (MIL-OSI)

    WASHINGTON, Jan. 27, 2025 (GLOBE NEWSWIRE) — IBEX Limited (“ibex”) (Nasdaq: IBEX), a leading global provider of business process outsourcing (BPO) and customer engagement technology solutions, today announced it will report second quarter 2025 financial results after the market close on Thursday, February 6, 2025. Management will host a conference call and webcast to discuss the Company’s financial results, recent developments, and business outlook at 4:30 p.m. ET.

    About ibex
    ibex delivers innovative business process outsourcing (BPO), smart digital marketing, online acquisition technology, and end-to-end customer engagement solutions to help companies acquire, engage and retain valuable customers. Today, ibex operates a global CX delivery center model consisting of approximately 30 operations facilities around the world, while deploying next generation technology to drive superior customer experiences for many of the world’s leading companies across retail, e-commerce, healthcare, fintech, utilities and logistics.

    ibex leverages its diverse global team of over 30,000 employees together with industry-leading technology, including the AI-powered ibex Wave iX solutions suite, to manage nearly 175 million critical customer interactions, adding over $2.2B in lifetime customer revenue each year and driving a truly differentiated customer experience. To learn more, visit our website at ibex.co and connect with us on LinkedIn.

    Investor Contact
    Michael Darwal
    ibex
    Michael.Darwal@ibex.co

    Media Contact
    Dan Burris
    ibex
    Daniel.Burris@ibex.co

    The MIL Network

  • MIL-OSI USA: Minority Leader Sen. Harold Jones II to Hold Press Conference on 2025 Senate Democratic Caucus Priorities

    Source: US State of Georgia

    ATLANTA (January 27, 2025) — On Tuesday, January 28, at 1:30 p.m., Senate Minority Leader Sen. Harold Jones II (D–Augusta) will hold a press conference on the Democratic Caucus’ legislative priorities for the 2025 Legislative Session.

    EVENT DETAILS:                      

    • Date: Tuesday, January 28, 2025
    • Time: 1:30 p.m.
    • Where: 203 Coverdell Legislative Office Building, 18 Capitol Square, S.W., Atlanta, Georgia 30334
    • This Event is Open to the Public.

    MEDIA OPPORTUNITIES:

    We kindly request that members of the media confirm their attendance in advance by contacting Jantz Womack at SenatePressInquiries@senate.ga.gov.

    # # # #

    Sen. Harold V. Jones II serves as the Democratic Leader. He represents the 22nd Senate District, which includes portions of Richmond County. He may be reached at 404.656.0036 or via email at harold.jones@senate.ga.gov

    MIL OSI USA News